# EDGAR Filing Document

**Accession Number:** 0001890141
**File Stem:** 0001752724-25-165058
**Filing Date:** 2025-7
**Character Count:** 79032
**Document Hash:** db09296bd0db36e644a4e9082b473808
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-165058.hdr.sgml**: 20250708

**ACCESSION NUMBER**: 0001752724-25-165058

**CONFORMED SUBMISSION TYPE**: N-MFP3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250708

**DATE AS OF CHANGE**: 20250708

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** 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:** 251110985

**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):** 2025-06-30

**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:** 28 days

- **WAL:** 28 days

- **Total Value of Portfolio Securities:** $409341507.40

- **Amortized Cost of Portfolio Securities:** $409327655.36

- **Cash:** $10383.46

- **Total Other Assets:** $1979444.57

- **Total Liabilities:** $12850440.74

- **Net Assets of Series:** $398480894.69

- **Number of Shares Outstanding (Series):** 398442423.3800

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

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

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

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

### Daily & Weekly Liquid Assets
| Date       | Daily Liquid Assets ($)   | Weekly Liquid Assets ($)   | Daily Liquid Assets (%)   | Weekly Liquid Assets (%)   |
|:---|:---|:---|:---|:---|
| 2025-06-02 | $23461810.30              | $289026810.30              | 5.9000%                   | 72.9000%                   |
| 2025-06-03 | $27562364.87              | $297032364.87              | 6.8000%                   | 73.5000%                   |
| 2025-06-04 | $32787405.66              | $302257405.66              | 8.1000%                   | 74.4000%                   |
| 2025-06-05 | $33914285.77              | $303384285.77              | 8.3000%                   | 74.4000%                   |
| 2025-06-06 | $33905419.58              | $300505419.58              | 8.4000%                   | 74.2000%                   |
| 2025-06-09 | $42086057.70              | $296041057.70              | 10.5000%                  | 73.9000%                   |
| 2025-06-10 | $45453342.15              | $299408342.15              | 11.3000%                  | 74.2000%                   |
| 2025-06-11 | $32341611.81              | $298291611.81              | 8.0000%                   | 74.1000%                   |
| 2025-06-12 | $42452854.99              | $306812854.99              | 10.3000%                  | 74.6000%                   |
| 2025-06-13 | $43186454.09              | $307546454.09              | 10.5000%                  | 74.6000%                   |
| 2025-06-16 | $46234004.44              | $320295606.54              | 11.1000%                  | 77.1000%                   |
| 2025-06-17 | $36428928.80              | $315290263.88              | 8.9000%                   | 76.9000%                   |
| 2025-06-18 | $32936132.90              | $311796933.95              | 8.1000%                   | 76.7000%                   |
| 2025-06-20 | $45192208.43              | $312362208.43              | 11.1000%                  | 76.7000%                   |
| 2025-06-23 | $44492759.18              | $310902759.18              | 11.0000%                  | 76.6000%                   |
| 2025-06-24 | $45575302.48              | $311985302.48              | 11.2000%                  | 76.7000%                   |
| 2025-06-25 | $43311164.41              | $309721164.41              | 10.7000%                  | 76.5000%                   |
| 2025-06-26 | $43310675.23              | $305840675.23              | 10.8000%                  | 76.3000%                   |
| 2025-06-27 | $41711432.64              | $304241432.64              | 10.4000%                  | 76.2000%                   |
| 2025-06-30 | $29685383.46              | $317215383.46              | 7.2000%                   | 77.1000%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2025-06-02 | 2.4100%             |
| 2025-06-03 | 2.3500%             |
| 2025-06-04 | 2.3000%             |
| 2025-06-05 | 2.2600%             |
| 2025-06-06 | 2.1600%             |
| 2025-06-09 | 2.1400%             |
| 2025-06-10 | 2.1400%             |
| 2025-06-11 | 2.2300%             |
| 2025-06-12 | 2.4100%             |
| 2025-06-13 | 2.9000%             |
| 2025-06-16 | 3.0500%             |
| 2025-06-17 | 3.1900%             |
| 2025-06-18 | 3.2100%             |
| 2025-06-20 | 3.0200%             |
| 2025-06-23 | 2.9700%             |
| 2025-06-24 | 2.9200%             |
| 2025-06-25 | 2.8400%             |
| 2025-06-26 | 2.7400%             |
| 2025-06-27 | 2.5400%             |
| 2025-06-30 | 2.4800%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2025-06-02 | 1.0000                      |
|  |  |
| 2025-06-03 | 1.0000                      |
|  |  |
| 2025-06-04 | 1.0000                      |
|  |  |
| 2025-06-05 | 1.0000                      |
|  |  |
| 2025-06-06 | 1.0000                      |
|  |  |
| 2025-06-09 | 1.0000                      |
|  |  |
| 2025-06-10 | 1.0000                      |
|  |  |
| 2025-06-11 | 1.0000                      |
|  |  |
| 2025-06-12 | 1.0000                      |
|  |  |
| 2025-06-13 | 1.0000                      |
|  |  |
| 2025-06-16 | 1.0000                      |
|  |  |
| 2025-06-17 | 1.0000                      |
|  |  |
| 2025-06-18 | 1.0000                      |
|  |  |
| 2025-06-20 | 1.0000                      |
|  |  |
| 2025-06-23 | 1.0000                      |
|  |  |
| 2025-06-24 | 1.0000                      |
|  |  |
| 2025-06-25 | 1.0001                      |
|  |  |
| 2025-06-26 | 1.0001                      |
|  |  |
| 2025-06-27 | 1.0001                      |
|  |  |
| 2025-06-30 | 1.0001                      |
|  |  |

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

### Class: Class Y

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $18447772.20

- **Number of Shares Outstanding:** 18439400.8600

- **Expense Reimbursement/Waiver:** 1892.74

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-06-02 | 1.0004          |
|  |  |
| 2025-06-03 | 1.0003          |
|  |  |
| 2025-06-04 | 1.0003          |
|  |  |
| 2025-06-05 | 1.0003          |
|  |  |
| 2025-06-06 | 1.0003          |
|  |  |
| 2025-06-09 | 1.0003          |
|  |  |
| 2025-06-10 | 1.0003          |
|  |  |
| 2025-06-11 | 1.0003          |
|  |  |
| 2025-06-12 | 1.0004          |
|  |  |
| 2025-06-13 | 1.0003          |
|  |  |
| 2025-06-16 | 1.0003          |
|  |  |
| 2025-06-17 | 1.0003          |
|  |  |
| 2025-06-18 | 1.0003          |
|  |  |
| 2025-06-20 | 1.0003          |
|  |  |
| 2025-06-23 | 1.0003          |
|  |  |
| 2025-06-24 | 1.0004          |
|  |  |
| 2025-06-25 | 1.0004          |
|  |  |
| 2025-06-26 | 1.0004          |
|  |  |
| 2025-06-27 | 1.0004          |
|  |  |
| 2025-06-30 | 1.0005          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-06-02 | $240012.69                | $0.00                   |
| 2025-06-03 | $2426516.98               | $0.00                   |
| 2025-06-04 | $2980.07                  | $110121.57              |
| 2025-06-05 | $1180985.62               | $253756.50              |
| 2025-06-06 | $0.00                     | $1492499.06             |
| 2025-06-09 | $111134.29                | $0.00                   |
| 2025-06-10 | $259561.42                | $395279.19              |
| 2025-06-11 | $411315.81                | $178895.45              |
| 2025-06-12 | $0.00                     | $1331420.10             |
| 2025-06-13 | $1552647.93               | $0.00                   |
| 2025-06-16 | $1357949.36               | $0.00                   |
| 2025-06-17 | $0.00                     | $706527.83              |
| 2025-06-18 | $137480.34                | $2135060.39             |
| 2025-06-20 | $337959.17                | $10949.63               |
| 2025-06-23 | $67740.14                 | $0.00                   |
| 2025-06-24 | $0.00                     | $154806.18              |
| 2025-06-25 | $38478.62                 | $0.00                   |
| 2025-06-26 | $0.00                     | $1529806.12             |
| 2025-06-27 | $1469335.76               | $1198369.68             |
| 2025-06-30 | $0.00                     | $750720.15              |

**Total Gross Subscriptions (Month):** $9594098.20

**Total Gross Redemptions (Month):** $10248211.85

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-06-02 | 1.9600%           |
| 2025-06-03 | 1.9000%           |
| 2025-06-04 | 1.8500%           |
| 2025-06-05 | 1.8100%           |
| 2025-06-06 | 1.7100%           |
| 2025-06-09 | 1.6900%           |
| 2025-06-10 | 1.6900%           |
| 2025-06-11 | 1.7900%           |
| 2025-06-12 | 1.9600%           |
| 2025-06-13 | 2.4500%           |
| 2025-06-16 | 2.6000%           |
| 2025-06-17 | 2.7400%           |
| 2025-06-18 | 2.7600%           |
| 2025-06-20 | 2.5700%           |
| 2025-06-23 | 2.5200%           |
| 2025-06-24 | 2.4700%           |
| 2025-06-25 | 2.3900%           |
| 2025-06-26 | 2.2900%           |
| 2025-06-27 | 2.0900%           |
| 2025-06-30 | 2.0300%           |

**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:** $334115162.93

- **Number of Shares Outstanding:** 334130319.6900

- **Expense Reimbursement/Waiver:** 31051.83

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-06-02 | 0.9999          |
|  |  |
| 2025-06-03 | 0.9999          |
|  |  |
| 2025-06-04 | 0.9999          |
|  |  |
| 2025-06-05 | 0.9999          |
|  |  |
| 2025-06-06 | 0.9999          |
|  |  |
| 2025-06-09 | 0.9999          |
|  |  |
| 2025-06-10 | 0.9999          |
|  |  |
| 2025-06-11 | 0.9999          |
|  |  |
| 2025-06-12 | 0.9999          |
|  |  |
| 2025-06-13 | 0.9999          |
|  |  |
| 2025-06-16 | 0.9999          |
|  |  |
| 2025-06-17 | 0.9999          |
|  |  |
| 2025-06-18 | 0.9999          |
|  |  |
| 2025-06-20 | 0.9999          |
|  |  |
| 2025-06-23 | 0.9999          |
|  |  |
| 2025-06-24 | 0.9999          |
|  |  |
| 2025-06-25 | 0.9999          |
|  |  |
| 2025-06-26 | 0.9999          |
|  |  |
| 2025-06-27 | 0.9999          |
|  |  |
| 2025-06-30 | 1.0000          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-06-02 | $9206233.19               | $4007908.05             |
| 2025-06-03 | $5687449.25               | $0.00                   |
| 2025-06-04 | $8522111.10               | $3142376.97             |
| 2025-06-05 | $997578.38                | $695206.39              |
| 2025-06-06 | $352780.49                | $1942760.78             |
| 2025-06-09 | $4909.80                  | $3899969.31             |
| 2025-06-10 | $4503305.32               | $933795.35              |
| 2025-06-11 | $420427.48                | $1559351.93             |
| 2025-06-12 | $12175986.04              | $2216078.04             |
| 2025-06-13 | $1192983.33               | $2001244.87             |
| 2025-06-16 | $3277914.25               | $1784615.04             |
| 2025-06-17 | $323173.21                | $4597545.44             |
| 2025-06-18 | $24343.03                 | $1043624.67             |
| 2025-06-20 | $507818.51                | $499165.97              |
| 2025-06-23 | $3651.75                  | $1704242.16             |
| 2025-06-24 | $1135922.72               | $418337.50              |
| 2025-06-25 | $0.00                     | $2288363.57             |
| 2025-06-26 | $2899.89                  | $2380647.51             |
| 2025-06-27 | $254992.48                | $2466436.00             |
| 2025-06-30 | $722331.04                | $181263.32              |

**Total Gross Subscriptions (Month):** $49316811.26

**Total Gross Redemptions (Month):** $37762932.87

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-06-02 | 2.2100%           |
| 2025-06-03 | 2.1500%           |
| 2025-06-04 | 2.1000%           |
| 2025-06-05 | 2.0600%           |
| 2025-06-06 | 1.9600%           |
| 2025-06-09 | 1.9400%           |
| 2025-06-10 | 1.9400%           |
| 2025-06-11 | 2.0300%           |
| 2025-06-12 | 2.2100%           |
| 2025-06-13 | 2.7000%           |
| 2025-06-16 | 2.8500%           |
| 2025-06-17 | 2.9900%           |
| 2025-06-18 | 3.0100%           |
| 2025-06-20 | 2.8200%           |
| 2025-06-23 | 2.7700%           |
| 2025-06-24 | 2.7200%           |
| 2025-06-25 | 2.6400%           |
| 2025-06-26 | 2.5400%           |
| 2025-06-27 | 2.3400%           |
| 2025-06-30 | 2.2800%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 99.3800%         | 0.0000%              |

### Class: Class T

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $15463243.84

- **Number of Shares Outstanding:** 15421175.0100

- **Expense Reimbursement/Waiver:** 1421.42

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-06-02 | 1.0027          |
|  |  |
| 2025-06-03 | 1.0027          |
|  |  |
| 2025-06-04 | 1.0027          |
|  |  |
| 2025-06-05 | 1.0027          |
|  |  |
| 2025-06-06 | 1.0027          |
|  |  |
| 2025-06-09 | 1.0027          |
|  |  |
| 2025-06-10 | 1.0027          |
|  |  |
| 2025-06-11 | 1.0027          |
|  |  |
| 2025-06-12 | 1.0027          |
|  |  |
| 2025-06-13 | 1.0027          |
|  |  |
| 2025-06-16 | 1.0027          |
|  |  |
| 2025-06-17 | 1.0027          |
|  |  |
| 2025-06-18 | 1.0026          |
|  |  |
| 2025-06-20 | 1.0027          |
|  |  |
| 2025-06-23 | 1.0027          |
|  |  |
| 2025-06-24 | 1.0027          |
|  |  |
| 2025-06-25 | 1.0027          |
|  |  |
| 2025-06-26 | 1.0027          |
|  |  |
| 2025-06-27 | 1.0027          |
|  |  |
| 2025-06-30 | 1.0027          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-06-02 | $1.99                     | $0.00                   |
| 2025-06-03 | $28329.14                 | $0.00                   |
| 2025-06-04 | $0.00                     | $0.00                   |
| 2025-06-05 | $0.00                     | $0.00                   |
| 2025-06-06 | $0.00                     | $0.00                   |
| 2025-06-09 | $0.00                     | $0.00                   |
| 2025-06-10 | $0.00                     | $0.00                   |
| 2025-06-11 | $50.00                    | $0.00                   |
| 2025-06-12 | $332.00                   | $0.00                   |
| 2025-06-13 | $0.00                     | $0.00                   |
| 2025-06-16 | $84.00                    | $0.00                   |
| 2025-06-17 | $201.05                   | $5000.00                |
| 2025-06-18 | $0.00                     | $0.00                   |
| 2025-06-20 | $0.00                     | $0.00                   |
| 2025-06-23 | $0.00                     | $1123.21                |
| 2025-06-24 | $0.00                     | $35000.00               |
| 2025-06-25 | $0.00                     | $0.00                   |
| 2025-06-26 | $0.00                     | $0.00                   |
| 2025-06-27 | $0.00                     | $0.00                   |
| 2025-06-30 | $8281.99                  | $0.00                   |

**Total Gross Subscriptions (Month):** $37280.17

**Total Gross Redemptions (Month):** $41123.21

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-06-02 | 2.0200%           |
| 2025-06-03 | 1.9600%           |
| 2025-06-04 | 1.9000%           |
| 2025-06-05 | 1.8600%           |
| 2025-06-06 | 1.7700%           |
| 2025-06-09 | 1.7500%           |
| 2025-06-10 | 1.7400%           |
| 2025-06-11 | 1.8400%           |
| 2025-06-12 | 2.0100%           |
| 2025-06-13 | 2.5100%           |
| 2025-06-16 | 2.6600%           |
| 2025-06-17 | 2.8000%           |
| 2025-06-18 | 2.8200%           |
| 2025-06-20 | 2.6300%           |
| 2025-06-23 | 2.5800%           |
| 2025-06-24 | 2.5300%           |
| 2025-06-25 | 2.4500%           |
| 2025-06-26 | 2.3500%           |
| 2025-06-27 | 2.1500%           |
| 2025-06-30 | 2.0800%           |

**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:** $30338366.53

- **Number of Shares Outstanding:** 30335165.4700

- **Expense Reimbursement/Waiver:** 2736.40

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-06-02 | 1.0000          |
|  |  |
| 2025-06-03 | 1.0000          |
|  |  |
| 2025-06-04 | 1.0001          |
|  |  |
| 2025-06-05 | 1.0001          |
|  |  |
| 2025-06-06 | 1.0001          |
|  |  |
| 2025-06-09 | 1.0001          |
|  |  |
| 2025-06-10 | 1.0000          |
|  |  |
| 2025-06-11 | 1.0000          |
|  |  |
| 2025-06-12 | 1.0000          |
|  |  |
| 2025-06-13 | 1.0000          |
|  |  |
| 2025-06-16 | 1.0000          |
|  |  |
| 2025-06-17 | 1.0000          |
|  |  |
| 2025-06-18 | 1.0000          |
|  |  |
| 2025-06-20 | 1.0000          |
|  |  |
| 2025-06-23 | 1.0000          |
|  |  |
| 2025-06-24 | 1.0001          |
|  |  |
| 2025-06-25 | 1.0001          |
|  |  |
| 2025-06-26 | 1.0001          |
|  |  |
| 2025-06-27 | 1.0001          |
|  |  |
| 2025-06-30 | 1.0001          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-06-02 | $1355212.40               | $0.00                   |
| 2025-06-03 | $33839.62                 | $152867.75              |
| 2025-06-04 | $2106.35                  | $77475.44               |
| 2025-06-05 | $0.00                     | $97807.88               |
| 2025-06-06 | $203377.27                | $0.00                   |
| 2025-06-09 | $14142.73                 | $694684.76              |
| 2025-06-10 | $150149.55                | $215000.00              |
| 2025-06-11 | $151485.44                | $359717.91              |
| 2025-06-12 | $2127.16                  | $103611.72              |
| 2025-06-13 | $16947.26                 | $27126.64               |
| 2025-06-16 | $199602.23                | $0.00                   |
| 2025-06-17 | $0.00                     | $26854.87               |
| 2025-06-18 | $51905.46                 | $532159.20              |
| 2025-06-20 | $225418.18                | $71037.45               |
| 2025-06-23 | $0.00                     | $17893.91               |
| 2025-06-24 | $588319.79                | $31390.02               |
| 2025-06-25 | $4312.37                  | $14180.92               |
| 2025-06-26 | $35638.62                 | $13692.81               |
| 2025-06-27 | $340544.94                | $2483.79                |
| 2025-06-30 | $178142.06                | $2880.96                |

**Total Gross Subscriptions (Month):** $3553271.43

**Total Gross Redemptions (Month):** $2440866.03

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-06-02 | 1.6600%           |
| 2025-06-03 | 1.6000%           |
| 2025-06-04 | 1.5500%           |
| 2025-06-05 | 1.5100%           |
| 2025-06-06 | 1.4100%           |
| 2025-06-09 | 1.3900%           |
| 2025-06-10 | 1.3900%           |
| 2025-06-11 | 1.4800%           |
| 2025-06-12 | 1.6600%           |
| 2025-06-13 | 2.1500%           |
| 2025-06-16 | 2.3000%           |
| 2025-06-17 | 2.4400%           |
| 2025-06-18 | 2.4600%           |
| 2025-06-20 | 2.2700%           |
| 2025-06-23 | 2.2200%           |
| 2025-06-24 | 2.1700%           |
| 2025-06-25 | 2.0900%           |
| 2025-06-26 | 1.9900%           |
| 2025-06-27 | 1.7900%           |
| 2025-06-30 | 1.7300%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 74.1800%         | 0.0000%              |

### Class: Class V

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $116349.19

- **Number of Shares Outstanding:** 116362.3500

- **Expense Reimbursement/Waiver:** 5.73

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-06-02 | 0.9995          |
|  |  |
| 2025-06-03 | 0.9995          |
|  |  |
| 2025-06-04 | 0.9995          |
|  |  |
| 2025-06-05 | 0.9995          |
|  |  |
| 2025-06-06 | 0.9995          |
|  |  |
| 2025-06-09 | 0.9995          |
|  |  |
| 2025-06-10 | 0.9995          |
|  |  |
| 2025-06-11 | 0.9995          |
|  |  |
| 2025-06-12 | 0.9995          |
|  |  |
| 2025-06-13 | 0.9995          |
|  |  |
| 2025-06-16 | 0.9995          |
|  |  |
| 2025-06-17 | 0.9995          |
|  |  |
| 2025-06-18 | 0.9995          |
|  |  |
| 2025-06-20 | 0.9998          |
|  |  |
| 2025-06-23 | 0.9998          |
|  |  |
| 2025-06-24 | 0.9998          |
|  |  |
| 2025-06-25 | 0.9998          |
|  |  |
| 2025-06-26 | 0.9999          |
|  |  |
| 2025-06-27 | 0.9999          |
|  |  |
| 2025-06-30 | 0.9999          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-06-02 | $2102.05                  | $0.00                   |
| 2025-06-03 | $56.11                    | $0.00                   |
| 2025-06-04 | $146.26                   | $0.00                   |
| 2025-06-05 | $0.00                     | $0.00                   |
| 2025-06-06 | $0.00                     | $0.00                   |
| 2025-06-09 | $0.00                     | $0.00                   |
| 2025-06-10 | $0.00                     | $0.00                   |
| 2025-06-11 | $0.00                     | $0.00                   |
| 2025-06-12 | $0.00                     | $0.00                   |
| 2025-06-13 | $0.00                     | $0.00                   |
| 2025-06-16 | $0.00                     | $0.00                   |
| 2025-06-17 | $0.00                     | $0.00                   |
| 2025-06-18 | $4.97                     | $0.00                   |
| 2025-06-20 | $82857.12                 | $738.19                 |
| 2025-06-23 | $0.00                     | $0.00                   |
| 2025-06-24 | $0.00                     | $0.00                   |
| 2025-06-25 | $0.00                     | $83.33                  |
| 2025-06-26 | $0.00                     | $0.00                   |
| 2025-06-27 | $0.00                     | $0.00                   |
| 2025-06-30 | $3.38                     | $0.00                   |

**Total Gross Subscriptions (Month):** $85169.89

**Total Gross Redemptions (Month):** $821.52

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-06-02 | 2.1200%           |
| 2025-06-03 | 2.0600%           |
| 2025-06-04 | 2.0000%           |
| 2025-06-05 | 1.9700%           |
| 2025-06-06 | 1.8700%           |
| 2025-06-09 | 1.8500%           |
| 2025-06-10 | 1.8500%           |
| 2025-06-11 | 1.9400%           |
| 2025-06-12 | 2.1100%           |
| 2025-06-13 | 2.6000%           |
| 2025-06-16 | 2.7500%           |
| 2025-06-17 | 2.8900%           |
| 2025-06-18 | 2.9200%           |
| 2025-06-20 | 2.7300%           |
| 2025-06-23 | 2.6800%           |
| 2025-06-24 | 2.6300%           |
| 2025-06-25 | 2.5500%           |
| 2025-06-26 | 2.4400%           |
| 2025-06-27 | 2.2400%           |
| 2025-06-30 | 2.1700%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 99.1400%         | 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:** 3.3100%
- **C.17 - Yield as of Reporting Date:** 1.9000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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):** $14999397.00
- **C.18.a - Value (excl. sponsor support):** $14999397.00
- **C.19 - Percentage of Net Assets:** 3.7600%
- **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:** 0.0300%
- **C.17 - Yield as of Reporting Date:** 2.0000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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: UNIVERSITY OF MICHIGAN

- **C.1 - Title:** University of Michigan, Series B
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 91445AR43, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $9000729.90
- **C.18.a - Value (excl. sponsor support):** $9000729.90
- **C.19 - Percentage of Net Assets:** 2.2600%
- **C.17 - Yield as of Reporting Date:** 3.2000%
- **C.11 - Maturity Date (WAM):** 2025-07-16
- **C.12 - Maturity Date (WAL):** 2025-07-16
- **C.13 - Final Legal Maturity Date:** 2025-07-16
- **C.10 - Ratings:** Moodys Short: VMIG1; 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 5: 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:** 2.3500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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 6: 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):** $8875818.88
- **C.18.a - Value (excl. sponsor support):** $8875818.88
- **C.19 - Percentage of Net Assets:** 2.2300%
- **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 7: 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):** $3906945.47
- **C.18.a - Value (excl. sponsor support):** $3906945.47
- **C.19 - Percentage of Net Assets:** 0.9800%
- **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 8: 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):** $6410000.00
- **C.18.a - Value (excl. sponsor support):** $6410000.00
- **C.19 - Percentage of Net Assets:** 1.6100%
- **C.17 - Yield as of Reporting Date:** 3.6500%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2025-07-01
- **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 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:** 4.4700%
- **C.17 - Yield as of Reporting Date:** 1.7500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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):** $3009430.50
- **C.18.a - Value (excl. sponsor support):** $3009430.50
- **C.19 - Percentage of Net Assets:** 0.7600%
- **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):** $12000000.00
- **C.18.a - Value (excl. sponsor support):** $12000000.00
- **C.19 - Percentage of Net Assets:** 3.0100%
- **C.17 - Yield as of Reporting Date:** 1.9000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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):** $5007226.50
- **C.18.a - Value (excl. sponsor support):** $5007226.50
- **C.19 - Percentage of Net Assets:** 1.2600%
- **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:** 3.0100%
- **C.17 - Yield as of Reporting Date:** 1.8000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Chevron U.S.A. Inc. Project, Series 2010A
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ABS2, C.4 - ISIN: US60528ABS24, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $120000.00
- **C.18.a - Value (excl. sponsor support):** $120000.00
- **C.19 - Percentage of Net Assets:** 0.0300%
- **C.17 - Yield as of Reporting Date:** 1.9000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Moodys Long: Aa2; Moodys Short: VMIG1; 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? 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: 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:** 2.1500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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 16: NORTON HEALTHCARE OBLIG

- **C.1 - Title:** Louisville/Jefferson County Metro Government, Norton Healthcare, Inc, Series 2013C
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 54659LAW4, C.4 - ISIN: US54659LAW46, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $14990000.00
- **C.18.a - Value (excl. sponsor support):** $14990000.00
- **C.19 - Percentage of Net Assets:** 3.7600%
- **C.17 - Yield as of Reporting Date:** 1.8000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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 17: ANDERSON TWP OH PARK DIST

- **C.1 - Title:** Anderson Township Park District, Ohio, General Obligation Notes, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 034150AV4, C.4 - ISIN: US034150AV42, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $4108016.73
- **C.18.a - Value (excl. sponsor support):** $4108016.73
- **C.19 - Percentage of Net Assets:** 1.0300%
- **C.17 - Yield as of Reporting Date:** 3.1200%
- **C.11 - Maturity Date (WAM):** 2026-03-11
- **C.12 - Maturity Date (WAL):** 2026-03-11
- **C.13 - Final Legal Maturity Date:** 2026-03-11
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 18: PARKVIEW HEALTH SYSTEM

- **C.1 - Title:** Indiana Finance Authority, Parkview Health System Obligated Group, Series 2009C
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45471AAQ5, C.4 - ISIN: US45471AAQ58, C.3 - LEI: 549300PS0PAS7NDSSI20
- **C.18 - Value (incl. sponsor support):** $2175000.00
- **C.18.a - Value (excl. sponsor support):** $2175000.00
- **C.19 - Percentage of Net Assets:** 0.5500%
- **C.17 - Yield as of Reporting Date:** 1.8000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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 19: MACON GA WTR AUTH

- **C.1 - Title:** Macon Water Authority, Tax-Exempt Adjustable Mode Water & Sewer Refunding and Improvement Revenue Bonds, Series 2018B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 555758HX2, C.4 - ISIN: US555758HX27, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $17120000.00
- **C.18.a - Value (excl. sponsor support):** $17120000.00
- **C.19 - Percentage of Net Assets:** 4.3000%
- **C.17 - Yield as of Reporting Date:** 1.9500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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 20: CLARK CNTY NV ARPT REVENUE

- **C.1 - Title:** Clark County, Nevada Airport System, Series 2008D-2B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 18085PNC4, C.4 - ISIN: US18085PNC40, C.3 - LEI: 549300LDD8NZB2EOVG83
- **C.18 - Value (incl. sponsor support):** $4720000.00
- **C.18.a - Value (excl. sponsor support):** $4720000.00
- **C.19 - Percentage of Net Assets:** 1.1800%
- **C.17 - Yield as of Reporting Date:** 2.0500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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 21: METHODIST HOSPS DALLAS OB

- **C.1 - Title:** Tarrant County Cultural Education Facilities Finance Corp, Methodist Hospitals of Dallas Project, Series 2008A
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 87638QBE8, C.4 - ISIN: US87638QBE89, C.3 - LEI: MLU0ZO3ML4LN2LL2TL39
- **C.18 - Value (incl. sponsor support):** $9000000.00
- **C.18.a - Value (excl. sponsor support):** $9000000.00
- **C.19 - Percentage of Net Assets:** 2.2600%
- **C.17 - Yield as of Reporting Date:** 3.9000%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2025-07-01
- **C.13 - Final Legal Maturity Date:** 2041-10-01
- **C.10 - Ratings:** Moodys Long: Aa1; Standard and Poors Long: AA+; Standard and Poors Short: A-1; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 22: 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: 91514YEJ8, C.3 - LEI: TEHUYFNKZR6XVWLGEU86
- **C.18 - Value (incl. sponsor support):** $12999790.70
- **C.18.a - Value (excl. sponsor support):** $12999790.70
- **C.19 - Percentage of Net Assets:** 3.2600%
- **C.17 - Yield as of Reporting Date:** 2.8800%
- **C.11 - Maturity Date (WAM):** 2025-07-08
- **C.12 - Maturity Date (WAL):** 2025-07-08
- **C.13 - Final Legal Maturity Date:** 2025-07-08
- **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? 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:** 0.0800%
- **C.17 - Yield as of Reporting Date:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 24: 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):** $4334412.82
- **C.18.a - Value (excl. sponsor support):** $4334412.82
- **C.19 - Percentage of Net Assets:** 1.0900%
- **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 25: 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):** $6850000.00
- **C.18.a - Value (excl. sponsor support):** $6850000.00
- **C.19 - Percentage of Net Assets:** 1.7200%
- **C.17 - Yield as of Reporting Date:** 3.6500%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2025-07-01
- **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 26: UNIVERSITY OF MINNESOTA

- **C.1 - Title:** University of Minnesota, Series D
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 91447AHP5, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $11978225.25
- **C.18.a - Value (excl. sponsor support):** $11978225.25
- **C.19 - Percentage of Net Assets:** 3.0100%
- **C.17 - Yield as of Reporting Date:** 3.3000%
- **C.11 - Maturity Date (WAM):** 2025-07-16
- **C.12 - Maturity Date (WAL):** 2025-07-16
- **C.13 - Final Legal Maturity Date:** 2025-07-16
- **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 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:** 3.8300%
- **C.17 - Yield as of Reporting Date:** 1.9500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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:** 2.4500%
- **C.17 - Yield as of Reporting Date:** 1.7500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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:** 2.0000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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: HOUSTON TX UTILITY SYS REVENUE

- **C.1 - Title:** City of Houston, Texas, Combined Utility System, Series 2018C
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 44244CN94, C.4 - ISIN: US44244CN944, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $12810000.00
- **C.18.a - Value (excl. sponsor support):** $12810000.00
- **C.19 - Percentage of Net Assets:** 3.2100%
- **C.17 - Yield as of Reporting Date:** 2.3500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **C.13 - Final Legal Maturity Date:** 2034-05-15
- **C.10 - Ratings:** Fitch Short: F1; Moodys Long: Aa1; Fitch Long: AAA; 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: 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:** 2.6500%
- **C.17 - Yield as of Reporting Date:** 1.7500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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 32: 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):** $19415000.00
- **C.18.a - Value (excl. sponsor support):** $19415000.00
- **C.19 - Percentage of Net Assets:** 4.8700%
- **C.17 - Yield as of Reporting Date:** 3.9500%
- **C.11 - Maturity Date (WAM):** 2025-07-01
- **C.12 - Maturity Date (WAL):** 2025-07-01
- **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 33: 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):** $5564500.82
- **C.18.a - Value (excl. sponsor support):** $5564500.82
- **C.19 - Percentage of Net Assets:** 1.4000%
- **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 34: CHEVRON USA INC

- **C.1 - Title:** Mississippi Business Finance Corporation, Chevron U.S.A. Inc. Project, Series 2010B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 60528ABR4, C.4 - ISIN: US60528ABR41, C.3 - LEI: 549300DYV074JUDKBQ77
- **C.18 - Value (incl. sponsor support):** $450000.00
- **C.18.a - Value (excl. sponsor support):** $450000.00
- **C.19 - Percentage of Net Assets:** 0.1100%
- **C.17 - Yield as of Reporting Date:** 1.9000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **C.13 - Final Legal Maturity Date:** 2030-12-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Standard and Poors Long: AA-; 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? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 35: 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:** 4.7700%
- **C.17 - Yield as of Reporting Date:** 2.0500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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 36: VIRTUA HEALTH OBLIG GRP

- **C.1 - Title:** New Jersey Health Care Facilities Financing  Authority, Virtua Health Issue, Series 2004
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 64579FEB5, C.4 - ISIN: US64579FEB58, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $610000.00
- **C.18.a - Value (excl. sponsor support):** $610000.00
- **C.19 - Percentage of Net Assets:** 0.1500%
- **C.17 - Yield as of Reporting Date:** 1.2500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **C.13 - Final Legal Maturity Date:** 2033-07-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Fitch Long: AA-; Moodys Long: Aa2
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 37: 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):** $5016433.50
- **C.18.a - Value (excl. sponsor support):** $5016433.50
- **C.19 - Percentage of Net Assets:** 1.2600%
- **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 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:** 2.4500%
- **C.17 - Yield as of Reporting Date:** 1.9000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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:** 2.4700%
- **C.17 - Yield as of Reporting Date:** 2.0200%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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: THE NEWBERRY LIBRARY

- **C.1 - Title:** Illinois Educational Facilities Authority, The Newberry Library Project, 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):** $325000.00
- **C.18.a - Value (excl. sponsor support):** $325000.00
- **C.19 - Percentage of Net Assets:** 0.0800%
- **C.17 - Yield as of Reporting Date:** 1.8000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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: UNIV OF TEXAS TX

- **C.1 - Title:** University of Texas System, Series 2008B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 915137U35, C.4 - ISIN: US915137U355, C.3 - LEI: TEHUYFNKZR6XVWLGEU86
- **C.18 - Value (incl. sponsor support):** $750000.00
- **C.18.a - Value (excl. sponsor support):** $750000.00
- **C.19 - Percentage of Net Assets:** 0.1900%
- **C.17 - Yield as of Reporting Date:** 1.8500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **C.13 - Final Legal Maturity Date:** 2039-08-01
- **C.10 - Ratings:** Fitch Short: F1+; Fitch Long: AAA; Standard and Poors Long: AAA; Moodys Short: VMIG1; Moodys 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 42: TEXAS CHILDRENS HOSP OBLG

- **C.1 - Title:** Harris County Cultural Education Facilities Finance Corp, Texas Children's Hospital, Series 2015-3
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 414009SA9, C.4 - ISIN: US414009SA93, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $18605000.00
- **C.18.a - Value (excl. sponsor support):** $18605000.00
- **C.19 - Percentage of Net Assets:** 4.6700%
- **C.17 - Yield as of Reporting Date:** 2.0000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **C.13 - Final Legal Maturity Date:** 2045-10-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Standard and Poors Long: AA+; Moodys Long: Aa1; Fitch 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 43: CARNEGIE ENDOW INTL PEACE

- **C.1 - Title:** District of Columbia Carnegie Endowment for International Peace, Series 2006
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 25483VAE4, C.4 - ISIN: US25483VAE48, C.3 - LEI: 549300HWFOZXPKGOX654
- **C.18 - Value (incl. sponsor support):** $200000.00
- **C.18.a - Value (excl. sponsor support):** $200000.00
- **C.19 - Percentage of Net Assets:** 0.0500%
- **C.17 - Yield as of Reporting Date:** 1.9500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **C.13 - Final Legal Maturity Date:** 2045-11-01
- **C.10 - Ratings:** Moodys Short: VMIG1; 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 44: 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:** 1.2800%
- **C.17 - Yield as of Reporting Date:** 1.8000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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 45: 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):** $3033717.60
- **C.18.a - Value (excl. sponsor support):** $3033717.60
- **C.19 - Percentage of Net Assets:** 0.7600%
- **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 46: 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:** 2.0000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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 47: 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:** 5.0100%
- **C.17 - Yield as of Reporting Date:** 2.0000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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 48: 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:** 1.8500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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 49: BROWN UNIVERSITY

- **C.1 - Title:** Rhode Island Health and Educational Building Corp, Brown University, Series 2005A
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 762243MY6, C.4 - ISIN: US762243MY65, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5000000.00
- **C.18.a - Value (excl. sponsor support):** $5000000.00
- **C.19 - Percentage of Net Assets:** 1.2500%
- **C.17 - Yield as of Reporting Date:** 1.7500%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **C.13 - Final Legal Maturity Date:** 2035-05-01
- **C.10 - Ratings:** Standard and Poors Long: AA+; Standard and Poors Short: A-1; Moodys Short: VMIG1; Moodys Long: Aa1
- **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 50: 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):** $1301861.73
- **C.18.a - Value (excl. sponsor support):** $1301861.73
- **C.19 - Percentage of Net Assets:** 0.3300%
- **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 51: 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:** 2.3300%
- **C.17 - Yield as of Reporting Date:** 1.9000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **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

### Security 52: WILSON CNTY TN SPORTS AUTH INF

- **C.1 - Title:** The Sports Authority of the County of Wilson,Tennessee, Series 1999
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 97218MAA3, C.4 - ISIN: US97218MAA36, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $3905000.00
- **C.18.a - Value (excl. sponsor support):** $3905000.00
- **C.19 - Percentage of Net Assets:** 0.9800%
- **C.17 - Yield as of Reporting Date:** 1.8000%
- **C.11 - Maturity Date (WAM):** 2025-07-07
- **C.12 - Maturity Date (WAL):** 2025-07-07
- **C.13 - Final Legal Maturity Date:** 2029-09-01
- **C.10 - Ratings:** Moodys Long: A1
- **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

## N-MFP: Signatures

**Registrant:** First American Funds Trust

**Date:** 2025-07-08

**By:** Brent G. Smith

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

**Title of Signing Officer:** Assistant Treasurer