# EDGAR Filing Document

**Accession Number:** 0000822977
**File Stem:** 0001193125-25-232904
**Filing Date:** 2025-10
**Character Count:** 56505
**Document Hash:** 7fa30021411deacdbef8abfff8fcfd6f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-232904.hdr.sgml**: 20251007

**ACCESSION NUMBER**: 0001193125-25-232904

**CONFORMED SUBMISSION TYPE**: N-MFP3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251007

**DATE AS OF CHANGE**: 20251007

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GOLDMAN SACHS TRUST
- **CENTRAL INDEX KEY:** 0000822977

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-MFP3
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05349
- **FILM NUMBER:** 251378702

**BUSINESS ADDRESS:**
- **STREET 1:** 71  SOUTH WACKER DRIVE
- **STREET 2:** C/O GOLDMAN SACHS & CO
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3126554400

**MAIL ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GOLDMAN SACHS SHORT INTERMEDIATE GOVERNMENT FUND
- **DATE OF NAME CHANGE:** 19910711

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SHORT INTERMEDIATE GOVERNMENT FUND
- **DATE OF NAME CHANGE:** 19900104

## Series and Classes Contracts Data

### Goldman Sachs Investor Tax-Exempt California Money Market Fund (Series ID: S000086404)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000251955 | Administration Shares | ICBXX           |
| C000251956 | Class A Shares        | INCXX           |
| C000251957 | Preferred Shares      | ICPXX           |
| C000251958 | Service Shares        | ICSXX           |
| C000251959 | Class I Shares        | ICIXX           |

# Form N-MFP3: Monthly Schedule of Portfolio Holdings

## N-MFP: Filer Information
**Submission Type:** N-MFP3
**CIK:** 0000822977

### General Information

**Report for (YYYY-MM-DD):** 2025-09-30

**Registrant Full Name:** Goldman Sachs Trust

**CIK Number of Registrant:** 0000822977

**LEI of Registrant:** S2FHCT8U6D2VORP0J605

**Name of Series:** Goldman Sachs Investor Tax-Exempt California Money Market Fund

**LEI of Series:** 9845002G2F8C7A7WFD39

**EDGAR Series Identifier:** S000086404

**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            | Goldman Sachs Asset Management, L.P.                    | 801-37591         |
| Independent Public Accountant | PricewaterhouseCoopers LLP<br>City: Boston<br>State: MA |  |
| Administrator                 | Goldman Sachs Asset Management, L.P.                    |  |
| Transfer Agent                | Goldman Sachs & Co. LLC<br>CIK: 0000734700              | 084-01100         |

### Fund Characteristics & Assets

- **Securities Act File Number:** 033-17619

- **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:** Single State

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

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

- **WAM:** 57 days

- **WAL:** 57 days

- **Total Value of Portfolio Securities:** $8098500.39

- **Amortized Cost of Portfolio Securities:** $8094037.65

- **Cash:** $23984.31

- **Total Other Assets:** $1139945.40

- **Total Liabilities:** $400563.63

- **Net Assets of Series:** $8857403.73

- **Number of Shares Outstanding (Series):** 8857704.9500

- **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 (%)   |
|:---|:---|:---|:---|:---|
| 2025-09-02 | $10095994.84              | $17061060.87               | 48.6200%                  | 82.1500%                   |
| 2025-09-03 | $10193130.72              | $17058182.50               | 49.0900%                  | 82.1500%                   |
| 2025-09-04 | $10753544.28              | $17058683.87               | 51.7900%                  | 82.1500%                   |
| 2025-09-05 | $11420331.46              | $18000471.05               | 52.6100%                  | 82.9200%                   |
| 2025-09-08 | $11420702.69              | $18000842.28               | 52.6100%                  | 82.9200%                   |
| 2025-09-09 | $11421156.78              | $18001156.78               | 52.6100%                  | 82.9200%                   |
| 2025-09-10 | $11419923.19              | $18149923.19               | 52.6000%                  | 83.6000%                   |
| 2025-09-11 | $10670610.34              | $18150610.34               | 49.1500%                  | 83.6000%                   |
| 2025-09-12 | $10671695.33              | $18151695.33               | 49.1400%                  | 83.5900%                   |
| 2025-09-15 | $10672492.60              | $18152492.60               | 49.1400%                  | 83.5900%                   |
| 2025-09-16 | $10738987.44              | $18168987.44               | 49.6400%                  | 83.9800%                   |
| 2025-09-17 | $10585524.37              | $18015524.37               | 48.9400%                  | 83.2900%                   |
| 2025-09-18 | $10285829.05              | $17715829.05               | 47.5500%                  | 81.8900%                   |
| 2025-09-19 | $10286743.08              | $17716743.08               | 47.5400%                  | 81.8800%                   |
| 2025-09-22 | $10386929.62              | $17716929.62               | 48.0000%                  | 81.8800%                   |
| 2025-09-23 |  | $6874374.59                |  | 62.2800%                   |
| 2025-09-24 | $1485654.65               | $7162126.87                | 13.4600%                  | 64.8800%                   |
| 2025-09-25 | $1207637.91               | $6884110.13                | 11.2200%                  | 63.9700%                   |
| 2025-09-26 | $1725043.93               | $7652320.66                | 15.0900%                  | 66.9400%                   |
| 2025-09-29 | $2034916.40               | $7751333.00                | 18.1200%                  | 69.0200%                   |
| 2025-09-30 | $1959596.40               | $5780400.91                | 21.1700%                  | 62.4500%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2025-09-02 | 2.7100%             |
| 2025-09-03 | 2.6900%             |
| 2025-09-04 | 2.6400%             |
| 2025-09-05 | 2.5800%             |
| 2025-09-08 | 2.3800%             |
| 2025-09-09 | 2.3600%             |
| 2025-09-10 | 2.3700%             |
| 2025-09-11 | 2.4000%             |
| 2025-09-12 | 2.4100%             |
| 2025-09-15 | 2.4600%             |
| 2025-09-16 | 2.4500%             |
| 2025-09-17 | 2.4300%             |
| 2025-09-18 | 2.4000%             |
| 2025-09-19 | 2.3600%             |
| 2025-09-22 | 2.2400%             |
| 2025-09-23 | 2.2900%             |
| 2025-09-24 | 2.3100%             |
| 2025-09-25 | 2.3300%             |
| 2025-09-26 | 2.3600%             |
| 2025-09-29 | 2.4400%             |
| 2025-09-30 | 2.4500%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2025-09-02 | 1.0003                      |
|  |  |
| 2025-09-03 | 1.0003                      |
|  |  |
| 2025-09-04 | 1.0003                      |
|  |  |
| 2025-09-05 | 1.0003                      |
|  |  |
| 2025-09-08 | 1.0003                      |
|  |  |
| 2025-09-09 | 1.0003                      |
|  |  |
| 2025-09-10 | 1.0003                      |
|  |  |
| 2025-09-11 | 1.0003                      |
|  |  |
| 2025-09-12 | 1.0003                      |
|  |  |
| 2025-09-15 | 1.0003                      |
|  |  |
| 2025-09-16 | 1.0003                      |
|  |  |
| 2025-09-17 | 1.0003                      |
|  |  |
| 2025-09-18 | 1.0003                      |
|  |  |
| 2025-09-19 | 1.0003                      |
|  |  |
| 2025-09-22 | 1.0003                      |
|  |  |
| 2025-09-23 | 1.0006                      |
|  |  |
| 2025-09-24 | 1.0006                      |
|  |  |
| 2025-09-25 | 1.0006                      |
|  |  |
| 2025-09-26 | 1.0005                      |
|  |  |
| 2025-09-29 | 1.0004                      |
|  |  |
| 2025-09-30 | 1.0005                      |
|  |  |

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

### Class: Administration Shares

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $51089.01

- **Number of Shares Outstanding:** 51090.7500

- **Expense Reimbursement/Waiver:** 123.00

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-09-02 | 1.0003          |
|  |  |
| 2025-09-03 | 1.0003          |
|  |  |
| 2025-09-04 | 1.0003          |
|  |  |
| 2025-09-05 | 1.0003          |
|  |  |
| 2025-09-08 | 1.0003          |
|  |  |
| 2025-09-09 | 1.0003          |
|  |  |
| 2025-09-10 | 1.0003          |
|  |  |
| 2025-09-11 | 1.0003          |
|  |  |
| 2025-09-12 | 1.0003          |
|  |  |
| 2025-09-15 | 1.0003          |
|  |  |
| 2025-09-16 | 1.0003          |
|  |  |
| 2025-09-17 | 1.0003          |
|  |  |
| 2025-09-18 | 1.0003          |
|  |  |
| 2025-09-19 | 1.0003          |
|  |  |
| 2025-09-22 | 1.0003          |
|  |  |
| 2025-09-23 | 1.0006          |
|  |  |
| 2025-09-24 | 1.0006          |
|  |  |
| 2025-09-25 | 1.0006          |
|  |  |
| 2025-09-26 | 1.0005          |
|  |  |
| 2025-09-29 | 1.0004          |
|  |  |
| 2025-09-30 | 1.0005          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-09-02 | $80.88                    | $0.00                   |
| 2025-09-03 | $1.00                     | $1.00                   |
| 2025-09-11 | $1.00                     | $1.00                   |

**Total Gross Subscriptions (Month):** $82.88

**Total Gross Redemptions (Month):** $2.00

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-09-02 | 2.2800%           |
| 2025-09-03 | 2.2500%           |
| 2025-09-04 | 2.2000%           |
| 2025-09-05 | 2.1400%           |
| 2025-09-08 | 1.9400%           |
| 2025-09-09 | 1.9300%           |
| 2025-09-10 | 1.9400%           |
| 2025-09-11 | 1.9700%           |
| 2025-09-12 | 1.9800%           |
| 2025-09-15 | 2.0300%           |
| 2025-09-16 | 2.0200%           |
| 2025-09-17 | 2.0000%           |
| 2025-09-18 | 1.9700%           |
| 2025-09-19 | 1.9300%           |
| 2025-09-22 | 1.8100%           |
| 2025-09-23 | 1.8500%           |
| 2025-09-24 | 1.8700%           |
| 2025-09-25 | 1.9000%           |
| 2025-09-26 | 1.9200%           |
| 2025-09-29 | 2.0100%           |
| 2025-09-30 | 2.0100%           |

**Beneficial/Record Owner Categories**
| Category      | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Broker-dealer |  | 99.9600%         | 0.0000%              |

### Class: Class A Shares

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $51068.08

- **Number of Shares Outstanding:** 51069.8200

- **Expense Reimbursement/Waiver:** 123.00

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-09-02 | 1.0003          |
|  |  |
| 2025-09-03 | 1.0003          |
|  |  |
| 2025-09-04 | 1.0003          |
|  |  |
| 2025-09-05 | 1.0003          |
|  |  |
| 2025-09-08 | 1.0003          |
|  |  |
| 2025-09-09 | 1.0003          |
|  |  |
| 2025-09-10 | 1.0003          |
|  |  |
| 2025-09-11 | 1.0003          |
|  |  |
| 2025-09-12 | 1.0003          |
|  |  |
| 2025-09-15 | 1.0003          |
|  |  |
| 2025-09-16 | 1.0003          |
|  |  |
| 2025-09-17 | 1.0003          |
|  |  |
| 2025-09-18 | 1.0003          |
|  |  |
| 2025-09-19 | 1.0003          |
|  |  |
| 2025-09-22 | 1.0003          |
|  |  |
| 2025-09-23 | 1.0006          |
|  |  |
| 2025-09-24 | 1.0006          |
|  |  |
| 2025-09-25 | 1.0006          |
|  |  |
| 2025-09-26 | 1.0005          |
|  |  |
| 2025-09-29 | 1.0004          |
|  |  |
| 2025-09-30 | 1.0005          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-09-02 | $80.89                    | $0.00                   |

**Total Gross Subscriptions (Month):** $80.89

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

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-09-02 | 2.2800%           |
| 2025-09-03 | 2.2500%           |
| 2025-09-04 | 2.2000%           |
| 2025-09-05 | 2.1400%           |
| 2025-09-08 | 1.9400%           |
| 2025-09-09 | 1.9300%           |
| 2025-09-10 | 1.9400%           |
| 2025-09-11 | 1.9700%           |
| 2025-09-12 | 1.9800%           |
| 2025-09-15 | 2.0300%           |
| 2025-09-16 | 2.0200%           |
| 2025-09-17 | 2.0000%           |
| 2025-09-18 | 1.9700%           |
| 2025-09-19 | 1.9300%           |
| 2025-09-22 | 1.8100%           |
| 2025-09-23 | 1.8500%           |
| 2025-09-24 | 1.8700%           |
| 2025-09-25 | 1.9000%           |
| 2025-09-26 | 1.9200%           |
| 2025-09-29 | 2.0100%           |
| 2025-09-30 | 2.0100%           |

**Beneficial/Record Owner Categories**
| Category      | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Broker-dealer |  | 100.0000%        | 0.0000%              |

### Class: Preferred Shares

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $51142.66

- **Number of Shares Outstanding:** 51144.4100

- **Expense Reimbursement/Waiver:** 123.00

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-09-02 | 1.0003          |
|  |  |
| 2025-09-03 | 1.0003          |
|  |  |
| 2025-09-04 | 1.0003          |
|  |  |
| 2025-09-05 | 1.0003          |
|  |  |
| 2025-09-08 | 1.0003          |
|  |  |
| 2025-09-09 | 1.0003          |
|  |  |
| 2025-09-10 | 1.0003          |
|  |  |
| 2025-09-11 | 1.0003          |
|  |  |
| 2025-09-12 | 1.0003          |
|  |  |
| 2025-09-15 | 1.0003          |
|  |  |
| 2025-09-16 | 1.0003          |
|  |  |
| 2025-09-17 | 1.0003          |
|  |  |
| 2025-09-18 | 1.0003          |
|  |  |
| 2025-09-19 | 1.0003          |
|  |  |
| 2025-09-22 | 1.0003          |
|  |  |
| 2025-09-23 | 1.0006          |
|  |  |
| 2025-09-24 | 1.0006          |
|  |  |
| 2025-09-25 | 1.0006          |
|  |  |
| 2025-09-26 | 1.0005          |
|  |  |
| 2025-09-29 | 1.0004          |
|  |  |
| 2025-09-30 | 1.0005          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-09-02 | $87.52                    | $0.00                   |

**Total Gross Subscriptions (Month):** $87.52

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

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-09-02 | 2.4300%           |
| 2025-09-03 | 2.4000%           |
| 2025-09-04 | 2.3500%           |
| 2025-09-05 | 2.2900%           |
| 2025-09-08 | 2.0900%           |
| 2025-09-09 | 2.0800%           |
| 2025-09-10 | 2.0900%           |
| 2025-09-11 | 2.1200%           |
| 2025-09-12 | 2.1300%           |
| 2025-09-15 | 2.1800%           |
| 2025-09-16 | 2.1700%           |
| 2025-09-17 | 2.1500%           |
| 2025-09-18 | 2.1200%           |
| 2025-09-19 | 2.0800%           |
| 2025-09-22 | 1.9600%           |
| 2025-09-23 | 2.0000%           |
| 2025-09-24 | 2.0200%           |
| 2025-09-25 | 2.0500%           |
| 2025-09-26 | 2.0700%           |
| 2025-09-29 | 2.1600%           |
| 2025-09-30 | 2.1600%           |

**Beneficial/Record Owner Categories**
| Category      | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Broker-dealer |  | 100.0000%        | 0.0000%              |

### Class: Service Shares

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $50944.03

- **Number of Shares Outstanding:** 50945.7600

- **Expense Reimbursement/Waiver:** 123.00

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-09-02 | 1.0003          |
|  |  |
| 2025-09-03 | 1.0003          |
|  |  |
| 2025-09-04 | 1.0003          |
|  |  |
| 2025-09-05 | 1.0003          |
|  |  |
| 2025-09-08 | 1.0003          |
|  |  |
| 2025-09-09 | 1.0003          |
|  |  |
| 2025-09-10 | 1.0003          |
|  |  |
| 2025-09-11 | 1.0003          |
|  |  |
| 2025-09-12 | 1.0003          |
|  |  |
| 2025-09-15 | 1.0003          |
|  |  |
| 2025-09-16 | 1.0003          |
|  |  |
| 2025-09-17 | 1.0003          |
|  |  |
| 2025-09-18 | 1.0003          |
|  |  |
| 2025-09-19 | 1.0003          |
|  |  |
| 2025-09-22 | 1.0003          |
|  |  |
| 2025-09-23 | 1.0006          |
|  |  |
| 2025-09-24 | 1.0006          |
|  |  |
| 2025-09-25 | 1.0006          |
|  |  |
| 2025-09-26 | 1.0005          |
|  |  |
| 2025-09-29 | 1.0004          |
|  |  |
| 2025-09-30 | 1.0005          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-09-02 | $69.89                    | $0.00                   |

**Total Gross Subscriptions (Month):** $69.89

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

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-09-02 | 2.0300%           |
| 2025-09-03 | 2.0000%           |
| 2025-09-04 | 1.9500%           |
| 2025-09-05 | 1.8900%           |
| 2025-09-08 | 1.6900%           |
| 2025-09-09 | 1.6800%           |
| 2025-09-10 | 1.6900%           |
| 2025-09-11 | 1.7200%           |
| 2025-09-12 | 1.7300%           |
| 2025-09-15 | 1.7800%           |
| 2025-09-16 | 1.7700%           |
| 2025-09-17 | 1.7500%           |
| 2025-09-18 | 1.7200%           |
| 2025-09-19 | 1.6800%           |
| 2025-09-22 | 1.5600%           |
| 2025-09-23 | 1.6000%           |
| 2025-09-24 | 1.6200%           |
| 2025-09-25 | 1.6500%           |
| 2025-09-26 | 1.6700%           |
| 2025-09-29 | 1.7600%           |
| 2025-09-30 | 1.7600%           |

**Beneficial/Record Owner Categories**
| Category      | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Broker-dealer |  | 100.0000%        | 0.0000%              |

### Class: Class I Shares

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $8653159.95

- **Number of Shares Outstanding:** 8653454.2100

- **Expense Reimbursement/Waiver:** 37984.00

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-09-02 | 1.0003          |
|  |  |
| 2025-09-03 | 1.0003          |
|  |  |
| 2025-09-04 | 1.0003          |
|  |  |
| 2025-09-05 | 1.0003          |
|  |  |
| 2025-09-08 | 1.0003          |
|  |  |
| 2025-09-09 | 1.0003          |
|  |  |
| 2025-09-10 | 1.0003          |
|  |  |
| 2025-09-11 | 1.0003          |
|  |  |
| 2025-09-12 | 1.0003          |
|  |  |
| 2025-09-15 | 1.0003          |
|  |  |
| 2025-09-16 | 1.0003          |
|  |  |
| 2025-09-17 | 1.0003          |
|  |  |
| 2025-09-18 | 1.0003          |
|  |  |
| 2025-09-19 | 1.0003          |
|  |  |
| 2025-09-22 | 1.0003          |
|  |  |
| 2025-09-23 | 1.0006          |
|  |  |
| 2025-09-24 | 1.0006          |
|  |  |
| 2025-09-25 | 1.0006          |
|  |  |
| 2025-09-26 | 1.0005          |
|  |  |
| 2025-09-29 | 1.0004          |
|  |  |
| 2025-09-30 | 1.0005          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-09-02 | $33050.77                 | $2400000.00             |
| 2025-09-03 | $0.03                     | $0.00                   |
| 2025-09-05 | $7851112.32               | $6910310.63             |
| 2025-09-16 | $0.00                     | $83845.99               |
| 2025-09-23 | $0.00                     | $10600183.45            |
| 2025-09-25 | $0.00                     | $277834.05              |
| 2025-09-26 | $248198.07                | $11054.07               |
| 2025-09-29 | $0.00                     | $50000.00               |
| 2025-09-30 | $0.00                     | $2000000.00             |

**Total Gross Subscriptions (Month):** $8132361.19

**Total Gross Redemptions (Month):** $22333228.19

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-09-02 | 2.5300%           |
| 2025-09-03 | 2.5000%           |
| 2025-09-04 | 2.4500%           |
| 2025-09-05 | 2.3900%           |
| 2025-09-08 | 2.1900%           |
| 2025-09-09 | 2.1800%           |
| 2025-09-10 | 2.1900%           |
| 2025-09-11 | 2.2200%           |
| 2025-09-12 | 2.2300%           |
| 2025-09-15 | 2.2800%           |
| 2025-09-16 | 2.2700%           |
| 2025-09-17 | 2.2500%           |
| 2025-09-18 | 2.2200%           |
| 2025-09-19 | 2.1800%           |
| 2025-09-22 | 2.0600%           |
| 2025-09-23 | 2.1000%           |
| 2025-09-24 | 2.1200%           |
| 2025-09-25 | 2.1500%           |
| 2025-09-26 | 2.1700%           |
| 2025-09-29 | 2.2600%           |
| 2025-09-30 | 2.2600%           |

**Beneficial/Record Owner Categories**
| Category      | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Broker-dealer |  | 43.2100%         | 0.0000%              |
| Broker-dealer |  | 56.7900%         | 0.0000%              |

## Part C: Schedule of Portfolio Securities

### Security 1: BAY AREA TOLL AUTHORITY

- **C.1 - Title:** BAY AREA TOLL AUTHORITY 1.599999%
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 072024ZD7, C.4 - ISIN: US072024ZD72, C.3 - LEI: 5493001FUZGUQMIP5D78
- **C.18 - Value (incl. sponsor support):** $200000.00
- **C.18.a - Value (excl. sponsor support):** $200000.00
- **C.19 - Percentage of Net Assets:** 2.2600%
- **C.17 - Yield as of Reporting Date:** 1.6000%
- **C.11 - Maturity Date (WAM):** 2025-10-07
- **C.12 - Maturity Date (WAL):** 2025-10-07
- **C.13 - Final Legal Maturity Date:** 2059-04-01
- **C.10 - Ratings:** Fitch, Inc.: F1; Standard and Poor's Ratings Services: 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: BERKELEY, CALIFORNIA (CITY OF)

- **C.1 - Title:** BERKELEY, CALIFORNIA (CITY OF) 4.000000%
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 084113F95, C.4 - ISIN: US084113F956, C.3 - LEI: N.A.
- **C.18 - Value (incl. sponsor support):** $238418.15
- **C.18.a - Value (excl. sponsor support):** $238418.15
- **C.19 - Percentage of Net Assets:** 2.6900%
- **C.17 - Yield as of Reporting Date:** 4.0000%
- **C.11 - Maturity Date (WAM):** 2026-07-28
- **C.12 - Maturity Date (WAL):** 2026-07-28
- **C.13 - Final Legal Maturity Date:** 2026-07-28
- **C.10 - Ratings:** Standard and Poor's Ratings Services: 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 3: BLACKROCK MUNIHOLDINGS CALIF QUALITY FD INC (FORMERLY BLACKR

- **C.1 - Title:** BLACKROCK MUNIHOLDINGS CALIF QUALITY FD INC (FORMERLY BLACKR 3.030000%
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 09254L800, C.4 - ISIN: US09254L8000, C.3 - LEI: N.A.
- **C.18 - Value (incl. sponsor support):** $200000.00
- **C.18.a - Value (excl. sponsor support):** $200000.00
- **C.19 - Percentage of Net Assets:** 2.2600%
- **C.17 - Yield as of Reporting Date:** 3.0300%
- **C.11 - Maturity Date (WAM):** 2025-10-07
- **C.12 - Maturity Date (WAL):** 2025-10-07
- **C.13 - Final Legal Maturity Date:** 2054-09-01
- **C.10 - Ratings:** Moody's Investors Service, Inc.: P-1; Standard and Poor's Ratings Services: A-1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? Yes, 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: CALIFORNIA INSTITUTE OF TECHNOLOGY

- **C.1 - Title:** CALIFORNIA INSTITUTE OF TECHNOLOGY 1.690001%
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 130178EY8, C.4 - ISIN: US130178EY80, C.3 - LEI: 549300CITPNHOTVPHC04
- **C.18 - Value (incl. sponsor support):** $500000.00
- **C.18.a - Value (excl. sponsor support):** $500000.00
- **C.19 - Percentage of Net Assets:** 5.6400%
- **C.17 - Yield as of Reporting Date:** 1.6900%
- **C.11 - Maturity Date (WAM):** 2025-10-07
- **C.12 - Maturity Date (WAL):** 2025-10-07
- **C.13 - Final Legal Maturity Date:** 2036-10-01
- **C.10 - Ratings:** Moody's Investors Service, Inc.: VMIG1; Standard and Poor's Ratings Services: 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 5: LELAND STANFORD JUNIOR UNIVERSITY (THE)

- **C.1 - Title:** LELAND STANFORD JUNIOR UNIVERSITY (THE) 2.460000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 13017RBR4, C.4 - ISIN: US13017RBR49, C.3 - LEI: JIUV0DC2REIJXQ26CR37
- **C.18 - Value (incl. sponsor support):** $500417.95
- **C.18.a - Value (excl. sponsor support):** $500417.95
- **C.19 - Percentage of Net Assets:** 5.6500%
- **C.17 - Yield as of Reporting Date:** 2.4600%
- **C.11 - Maturity Date (WAM):** 2026-05-05
- **C.12 - Maturity Date (WAL):** 2026-05-05
- **C.13 - Final Legal Maturity Date:** 2026-05-05
- **C.10 - Ratings:** Fitch, Inc.: F1+; Moody's Investors Service, Inc.: VMIG1; Standard and Poor's Ratings Services: 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 6: KAISER PERMANENTE

- **C.1 - Title:** KAISER PERMANENTE 2.600000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 13032TTC5, C.3 - LEI: N.A.
- **C.18 - Value (incl. sponsor support):** $100023.75
- **C.18.a - Value (excl. sponsor support):** $100023.75
- **C.19 - Percentage of Net Assets:** 1.1300%
- **C.17 - Yield as of Reporting Date:** 2.6000%
- **C.11 - Maturity Date (WAM):** 2025-12-02
- **C.12 - Maturity Date (WAL):** 2025-12-02
- **C.13 - Final Legal Maturity Date:** 2025-12-02
- **C.10 - Ratings:** Fitch, Inc.: F1; Standard and Poor's Ratings Services: 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 7: CHEVRON CORPORATION

- **C.1 - Title:** CHEVRON CORPORATION 2.249999%
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 13048TGV9, C.4 - ISIN: US13048TGV98, C.3 - LEI: N.A.
- **C.18 - Value (incl. sponsor support):** $420000.00
- **C.18.a - Value (excl. sponsor support):** $420000.00
- **C.19 - Percentage of Net Assets:** 4.7400%
- **C.17 - Yield as of Reporting Date:** 2.2500%
- **C.11 - Maturity Date (WAM):** 2025-10-01
- **C.12 - Maturity Date (WAL):** 2025-10-01
- **C.13 - Final Legal Maturity Date:** 2035-11-01
- **C.10 - Ratings:** Moody's Investors Service, Inc.: VMIG1; Standard and Poor's Ratings Services: 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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 8: STATE OF CALIFORNIA

- **C.1 - Title:** STATE OF CALIFORNIA 3.000000%
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 13063DUG1, C.4 - ISIN: US13063DUG14, C.3 - LEI: 9845007J7054602FF597
- **C.18 - Value (incl. sponsor support):** $155320.35
- **C.18.a - Value (excl. sponsor support):** $155320.35
- **C.19 - Percentage of Net Assets:** 1.7500%
- **C.17 - Yield as of Reporting Date:** 2.4900%
- **C.11 - Maturity Date (WAM):** 2026-03-01
- **C.12 - Maturity Date (WAL):** 2026-03-01
- **C.13 - Final Legal Maturity Date:** 2026-03-01
- **C.10 - Ratings:** Fitch, Inc.: F1+; Moody's Investors Service, Inc.: P-1; Standard and Poor's Ratings Services: 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 9: STATE OF CALIFORNIA

- **C.1 - Title:** STATE OF CALIFORNIA 1.900000%
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 13063EGK6, C.4 - ISIN: US13063EGK64, C.3 - LEI: 9845007J7054602FF597
- **C.18 - Value (incl. sponsor support):** $275000.00
- **C.18.a - Value (excl. sponsor support):** $275000.00
- **C.19 - Percentage of Net Assets:** 3.1000%
- **C.17 - Yield as of Reporting Date:** 1.9000%
- **C.11 - Maturity Date (WAM):** 2025-10-07
- **C.12 - Maturity Date (WAL):** 2025-10-07
- **C.13 - Final Legal Maturity Date:** 2050-05-01
- **C.10 - Ratings:** Fitch, Inc.: F1+; Moody's Investors Service, Inc.: VMIG1; Standard and Poor's Ratings Services: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 10: STATE OF CALIFORNIA

- **C.1 - Title:** STATE OF CALIFORNIA 5.000000%
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 13063EMG8, C.4 - ISIN: US13063EMG88, C.3 - LEI: 9845007J7054602FF597
- **C.18 - Value (incl. sponsor support):** $101104.17
- **C.18.a - Value (excl. sponsor support):** $101104.17
- **C.19 - Percentage of Net Assets:** 1.1400%
- **C.17 - Yield as of Reporting Date:** 2.3200%
- **C.11 - Maturity Date (WAM):** 2026-03-01
- **C.12 - Maturity Date (WAL):** 2026-03-01
- **C.13 - Final Legal Maturity Date:** 2026-03-01
- **C.10 - Ratings:** Fitch, Inc.: F1+; Moody's Investors Service, Inc.: P-1; Standard and Poor's Ratings Services: 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 11: DEPARTMENT OF WATER RESOURCES OF THE STATE OF CALIFORNIA

- **C.1 - Title:** DEPARTMENT OF WATER RESOURCES OF THE STATE OF CALIFORNIA 2.500000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 13069KEX0, C.3 - LEI: 549300X618YEC5LGBQ98
- **C.18 - Value (incl. sponsor support):** $149999.37
- **C.18.a - Value (excl. sponsor support):** $149999.37
- **C.19 - Percentage of Net Assets:** 1.6900%
- **C.17 - Yield as of Reporting Date:** 2.5000%
- **C.11 - Maturity Date (WAM):** 2025-12-09
- **C.12 - Maturity Date (WAL):** 2025-12-09
- **C.13 - Final Legal Maturity Date:** 2025-12-09
- **C.10 - Ratings:** Moody's Investors Service, Inc.: P-1; Standard and Poor's Ratings Services: 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 12: DEPARTMENT OF WATER RESOURCES OF THE STATE OF CALIFORNIA

- **C.1 - Title:** DEPARTMENT OF WATER RESOURCES OF THE STATE OF CALIFORNIA 2.500000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 13069KFA9, C.3 - LEI: 549300X618YEC5LGBQ98
- **C.18 - Value (incl. sponsor support):** $300011.43
- **C.18.a - Value (excl. sponsor support):** $300011.43
- **C.19 - Percentage of Net Assets:** 3.3900%
- **C.17 - Yield as of Reporting Date:** 2.5000%
- **C.11 - Maturity Date (WAM):** 2025-10-30
- **C.12 - Maturity Date (WAL):** 2025-10-30
- **C.13 - Final Legal Maturity Date:** 2025-10-30
- **C.10 - Ratings:** Moody's Investors Service, Inc.: P-1; Standard and Poor's Ratings Services: 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 13: RADY CHILDREN'S HOSPITAL-SAN DIEGO

- **C.1 - Title:** RADY CHILDREN'S HOSPITAL-SAN DIEGO 2.600001%
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 130795W29, C.4 - ISIN: US130795W298, C.3 - LEI: 549300KTNI2GCJNX2U48
- **C.18 - Value (incl. sponsor support):** $500000.00
- **C.18.a - Value (excl. sponsor support):** $500000.00
- **C.19 - Percentage of Net Assets:** 5.6400%
- **C.17 - Yield as of Reporting Date:** 2.6000%
- **C.11 - Maturity Date (WAM):** 2025-10-01
- **C.12 - Maturity Date (WAL):** 2025-10-01
- **C.13 - Final Legal Maturity Date:** 2047-08-15
- **C.10 - Ratings:** Moody's Investors Service, Inc.: 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 14: KAISER FOUNDATION HOSPITALS

- **C.1 - Title:** KAISER FOUNDATION HOSPITALS 2.830000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 13080MEP8, C.3 - LEI: DW4Z57L3G4IRMHYZYK62
- **C.18 - Value (incl. sponsor support):** $100002.57
- **C.18.a - Value (excl. sponsor support):** $100002.57
- **C.19 - Percentage of Net Assets:** 1.1300%
- **C.17 - Yield as of Reporting Date:** 2.8300%
- **C.11 - Maturity Date (WAM):** 2025-10-08
- **C.12 - Maturity Date (WAL):** 2025-10-08
- **C.13 - Final Legal Maturity Date:** 2025-10-08
- **C.10 - Ratings:** Fitch, Inc.: F1; Standard and Poor's Ratings Services: 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 15: KAISER FOUNDATION HOSPITALS

- **C.1 - Title:** KAISER FOUNDATION HOSPITALS 2.680000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 13080MER4, C.3 - LEI: DW4Z57L3G4IRMHYZYK62
- **C.18 - Value (incl. sponsor support):** $300114.66
- **C.18.a - Value (excl. sponsor support):** $300114.66
- **C.19 - Percentage of Net Assets:** 3.3900%
- **C.17 - Yield as of Reporting Date:** 2.6800%
- **C.11 - Maturity Date (WAM):** 2026-01-08
- **C.12 - Maturity Date (WAL):** 2026-01-08
- **C.13 - Final Legal Maturity Date:** 2026-01-08
- **C.10 - Ratings:** Fitch, Inc.: F1; Standard and Poor's Ratings Services: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 16: CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY

- **C.1 - Title:** CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 2.600000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 13080QEM6, C.3 - LEI: 549300KTNI2GCJNX2U48
- **C.18 - Value (incl. sponsor support):** $100037.40
- **C.18.a - Value (excl. sponsor support):** $100037.40
- **C.19 - Percentage of Net Assets:** 1.1300%
- **C.17 - Yield as of Reporting Date:** 2.4500%
- **C.11 - Maturity Date (WAM):** 2026-01-06
- **C.12 - Maturity Date (WAL):** 2026-01-06
- **C.13 - Final Legal Maturity Date:** 2026-01-06
- **C.10 - Ratings:** Fitch, Inc.: F1; Standard and Poor's Ratings Services: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 17: CALIFORNIA STATE UNIVERSITY

- **C.1 - Title:** CALIFORNIA STATE UNIVERSITY 2.700000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 13080UAK5, C.3 - LEI: N.A.
- **C.18 - Value (incl. sponsor support):** $100002.51
- **C.18.a - Value (excl. sponsor support):** $100002.51
- **C.19 - Percentage of Net Assets:** 1.1300%
- **C.17 - Yield as of Reporting Date:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2025-10-06
- **C.12 - Maturity Date (WAL):** 2025-10-06
- **C.13 - Final Legal Maturity Date:** 2025-10-06
- **C.10 - Ratings:** Moody's Investors Service, Inc.: P-1; Standard and Poor's Ratings Services: 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 18: CALIFORNIA STATE UNIVERSITY

- **C.1 - Title:** CALIFORNIA STATE UNIVERSITY 2.680000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 13080UAM1, C.4 - ISIN: US13080UAM18, C.3 - LEI: N.A.
- **C.18 - Value (incl. sponsor support):** $100001.15
- **C.18.a - Value (excl. sponsor support):** $100001.15
- **C.19 - Percentage of Net Assets:** 1.1300%
- **C.17 - Yield as of Reporting Date:** 2.6800%
- **C.11 - Maturity Date (WAM):** 2025-10-06
- **C.12 - Maturity Date (WAL):** 2025-10-06
- **C.13 - Final Legal Maturity Date:** 2025-10-06
- **C.10 - Ratings:** Moody's Investors Service, Inc.: P-1; Standard and Poor's Ratings Services: 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 19: CALIFORNIA STATE UNIVERSITY

- **C.1 - Title:** CALIFORNIA STATE UNIVERSITY 2.750000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 13080UAN9, C.3 - LEI: N.A.
- **C.18 - Value (incl. sponsor support):** $100001.14
- **C.18.a - Value (excl. sponsor support):** $100001.14
- **C.19 - Percentage of Net Assets:** 1.1300%
- **C.17 - Yield as of Reporting Date:** 2.7500%
- **C.11 - Maturity Date (WAM):** 2025-10-06
- **C.12 - Maturity Date (WAL):** 2025-10-06
- **C.13 - Final Legal Maturity Date:** 2025-10-06
- **C.10 - Ratings:** Moody's Investors Service, Inc.: P-1; Standard and Poor's Ratings Services: 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 20: DEUTSCHE BANK SPEARS/LIFERS TRUST

- **C.1 - Title:** DEUTSCHE BANK SPEARS/LIFERS TRUST 2.979999%
- **C.6 - Investment Category:** Tender Option Bond
- **Identifiers:** C.3 - CUSIP: 25156SHV2, C.4 - ISIN: US25156SHV25, C.3 - LEI: N.A.
- **C.18 - Value (incl. sponsor support):** $100000.00
- **C.18.a - Value (excl. sponsor support):** $100000.00
- **C.19 - Percentage of Net Assets:** 1.1300%
- **C.17 - Yield as of Reporting Date:** 2.9800%
- **C.11 - Maturity Date (WAM):** 2025-10-07
- **C.12 - Maturity Date (WAL):** 2025-10-07
- **C.13 - Final Legal Maturity Date:** 2050-05-15
- **C.10 - Ratings:** Moody's Investors Service, Inc.: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? Yes, 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: FRESNO CALIFORNIA UNIFIED SCHOOL DISTRICT

- **C.1 - Title:** FRESNO CALIFORNIA UNIFIED SCHOOL DISTRICT 4.450000%
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 358233EA8, C.4 - ISIN: US358233EA88, C.3 - LEI: 549300WL4QIP65TFU882
- **C.18 - Value (incl. sponsor support):** $285000.00
- **C.18.a - Value (excl. sponsor support):** $285000.00
- **C.19 - Percentage of Net Assets:** 3.2200%
- **C.17 - Yield as of Reporting Date:** 4.4500%
- **C.11 - Maturity Date (WAM):** 2025-10-01
- **C.12 - Maturity Date (WAL):** 2025-10-01
- **C.13 - Final Legal Maturity Date:** 2025-10-01
- **C.10 - Ratings:** Moody's Investors Service, Inc.: 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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 22: LOS ANGELES, CALIFORNIA (CITY OF)

- **C.1 - Title:** LOS ANGELES, CALIFORNIA (CITY OF) 5.000000%
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 544351SF7, C.4 - ISIN: US544351SF70, C.3 - LEI: 549300E7TO710PTXPJ65
- **C.18 - Value (incl. sponsor support):** $203844.08
- **C.18.a - Value (excl. sponsor support):** $203844.08
- **C.19 - Percentage of Net Assets:** 2.3000%
- **C.17 - Yield as of Reporting Date:** 2.3100%
- **C.11 - Maturity Date (WAM):** 2026-06-25
- **C.12 - Maturity Date (WAL):** 2026-06-25
- **C.13 - Final Legal Maturity Date:** 2026-06-25
- **C.10 - Ratings:** Moody's Investors Service, Inc.: MIG1; Standard and Poor's Ratings Services: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 23: LOS ANGELES, CALIFORNIA (COUNTY OF)

- **C.1 - Title:** LOS ANGELES, CALIFORNIA (COUNTY OF) 5.000000%
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 544657JC4, C.4 - ISIN: US544657JC42, C.3 - LEI: 254900NGUPWO7FB6II89
- **C.18 - Value (incl. sponsor support):** $168492.52
- **C.18.a - Value (excl. sponsor support):** $168492.52
- **C.19 - Percentage of Net Assets:** 1.9000%
- **C.17 - Yield as of Reporting Date:** 2.1000%
- **C.11 - Maturity Date (WAM):** 2026-06-30
- **C.12 - Maturity Date (WAL):** 2026-06-30
- **C.13 - Final Legal Maturity Date:** 2026-06-30
- **C.10 - Ratings:** Fitch, Inc.: F1+; Moody's Investors Service, Inc.: MIG1; Standard and Poor's Ratings Services: 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 24: ORANGE COUNTY WATER DISTRICT

- **C.1 - Title:** ORANGE COUNTY WATER DISTRICT 2.780001%
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 684421CB4, C.4 - ISIN: US684421CB49, C.3 - LEI: 549300KBQTX6CMJ3U708
- **C.18 - Value (incl. sponsor support):** $300000.00
- **C.18.a - Value (excl. sponsor support):** $300000.00
- **C.19 - Percentage of Net Assets:** 3.3900%
- **C.17 - Yield as of Reporting Date:** 2.7800%
- **C.11 - Maturity Date (WAM):** 2025-10-07
- **C.12 - Maturity Date (WAL):** 2025-10-07
- **C.13 - Final Legal Maturity Date:** 2042-08-01
- **C.10 - Ratings:** Fitch, Inc.: F1+; Standard and Poor's Ratings Services: 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 25: RIVERSIDE, CALIFORNIA (COUNTY OF)

- **C.1 - Title:** RIVERSIDE, CALIFORNIA (COUNTY OF) 5.000000%
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 769110CZ8, C.4 - ISIN: US769110CZ87, C.3 - LEI: 254900CB5HEOBAVTY629
- **C.18 - Value (incl. sponsor support):** $260572.18
- **C.18.a - Value (excl. sponsor support):** $260572.18
- **C.19 - Percentage of Net Assets:** 2.9400%
- **C.17 - Yield as of Reporting Date:** 2.0100%
- **C.11 - Maturity Date (WAM):** 2026-06-30
- **C.12 - Maturity Date (WAL):** 2026-06-30
- **C.13 - Final Legal Maturity Date:** 2026-06-30
- **C.10 - Ratings:** Fitch, Inc.: F1+; Standard and Poor's Ratings Services: 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 26: HOUSING AUTHORITY OF THE COUNTY OF SACRAMENTO

- **C.1 - Title:** HOUSING AUTHORITY OF THE COUNTY OF SACRAMENTO 1.550002%
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 786111EW0, C.4 - ISIN: US786111EW08, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $255000.00
- **C.18.a - Value (excl. sponsor support):** $255000.00
- **C.19 - Percentage of Net Assets:** 2.8800%
- **C.17 - Yield as of Reporting Date:** 1.5500%
- **C.11 - Maturity Date (WAM):** 2025-10-07
- **C.12 - Maturity Date (WAL):** 2025-10-07
- **C.13 - Final Legal Maturity Date:** 2029-07-15
- **C.10 - Ratings:** Fitch, Inc.: F1+; Moody's Investors Service, Inc.: P-1; Standard and Poor's Ratings Services: 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 27: SAN DIEGO COUNTY WATER AUTHORITY

- **C.1 - Title:** SAN DIEGO COUNTY WATER AUTHORITY 2.700000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 79741WAS6, C.4 - ISIN: US79741WAS61, C.3 - LEI: 549300Y0QN5OFKA1G520
- **C.18 - Value (incl. sponsor support):** $250082.20
- **C.18.a - Value (excl. sponsor support):** $250082.20
- **C.19 - Percentage of Net Assets:** 2.8200%
- **C.17 - Yield as of Reporting Date:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2025-11-13
- **C.12 - Maturity Date (WAL):** 2025-11-13
- **C.13 - Final Legal Maturity Date:** 2025-11-13
- **C.10 - Ratings:** Fitch, Inc.: F1+; Moody's Investors Service, Inc.: P-1; Standard and Poor's Ratings Services: 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 28: AIRPORT COMMISSION OF THE CITY AND COUNTY OF SAN FRANCISCO

- **C.1 - Title:** AIRPORT COMMISSION OF THE CITY AND COUNTY OF SAN FRANCISCO 1.650001%
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 79766DLB3, C.4 - ISIN: US79766DLB37, C.3 - LEI: 54930055TIDYHNDP4F84
- **C.18 - Value (incl. sponsor support):** $525000.00
- **C.18.a - Value (excl. sponsor support):** $525000.00
- **C.19 - Percentage of Net Assets:** 5.9300%
- **C.17 - Yield as of Reporting Date:** 1.6500%
- **C.11 - Maturity Date (WAM):** 2025-10-07
- **C.12 - Maturity Date (WAL):** 2025-10-07
- **C.13 - Final Legal Maturity Date:** 2058-05-01
- **C.10 - Ratings:** Fitch, Inc.: F1; Moody's Investors Service, Inc.: VMIG1; Standard and Poor's Ratings Services: A-1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 29: SAN FRANCISCO AIRPORT COMMISSION

- **C.1 - Title:** SAN FRANCISCO AIRPORT COMMISSION 2.650000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 79768KAZ4, C.3 - LEI: N.A.
- **C.18 - Value (incl. sponsor support):** $150021.02
- **C.18.a - Value (excl. sponsor support):** $150021.02
- **C.19 - Percentage of Net Assets:** 1.6900%
- **C.17 - Yield as of Reporting Date:** 2.5500%
- **C.11 - Maturity Date (WAM):** 2025-11-06
- **C.12 - Maturity Date (WAL):** 2025-11-06
- **C.13 - Final Legal Maturity Date:** 2025-11-06
- **C.10 - Ratings:** Fitch, Inc.: F1+; Moody's Investors Service, Inc.: P-1; Standard and Poor's Ratings Services: 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 30: SAN MATEO COUNTY JOINT POWERS FINANCING AUTHORITY

- **C.1 - Title:** SAN MATEO COUNTY JOINT POWERS FINANCING AUTHORITY 2.099998%
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 799002AA8, C.4 - ISIN: US799002AA86, C.3 - LEI: N.A.
- **C.18 - Value (incl. sponsor support):** $440000.00
- **C.18.a - Value (excl. sponsor support):** $440000.00
- **C.19 - Percentage of Net Assets:** 4.9700%
- **C.17 - Yield as of Reporting Date:** 2.1000%
- **C.11 - Maturity Date (WAM):** 2025-10-07
- **C.12 - Maturity Date (WAL):** 2025-10-07
- **C.13 - Final Legal Maturity Date:** 2039-04-01
- **C.10 - Ratings:** Standard and Poor's Ratings Services: 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 31: SANTA CLARITA VALLEY WATER AGENCY

- **C.1 - Title:** SANTA CLARITA VALLEY WATER AGENCY 2.680000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 80169FAA3, C.3 - LEI: N.A.
- **C.18 - Value (incl. sponsor support):** $100026.73
- **C.18.a - Value (excl. sponsor support):** $100026.73
- **C.19 - Percentage of Net Assets:** 1.1300%
- **C.17 - Yield as of Reporting Date:** 2.6800%
- **C.11 - Maturity Date (WAM):** 2025-11-05
- **C.12 - Maturity Date (WAL):** 2025-11-05
- **C.13 - Final Legal Maturity Date:** 2025-11-05
- **C.10 - Ratings:** Fitch, Inc.: F1+; Standard and Poor's Ratings Services: 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 32: TENDER OPTION BOND TRUST RECEIPTS/CERTIFICATES

- **C.1 - Title:** TENDER OPTION BOND TRUST RECEIPTS/CERTIFICATES 2.909999%
- **C.6 - Investment Category:** Tender Option Bond
- **Identifiers:** C.3 - CUSIP: 88035P6K9, C.4 - ISIN: US88035P6K91, C.3 - LEI: N.A.
- **C.18 - Value (incl. sponsor support):** $200000.00
- **C.18.a - Value (excl. sponsor support):** $200000.00
- **C.19 - Percentage of Net Assets:** 2.2600%
- **C.17 - Yield as of Reporting Date:** 2.9100%
- **C.11 - Maturity Date (WAM):** 2025-10-07
- **C.12 - Maturity Date (WAL):** 2025-10-07
- **C.13 - Final Legal Maturity Date:** 2056-11-01
- **C.10 - Ratings:** Standard and Poor's Ratings Services: A-1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? Yes, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 33: TENDER OPTION BOND TRUST RECEIPTS/CERTIFICATES

- **C.1 - Title:** TENDER OPTION BOND TRUST RECEIPTS/CERTIFICATES 3.800000%
- **C.6 - Investment Category:** Tender Option Bond
- **Identifiers:** C.3 - CUSIP: 88035PYP7, C.4 - ISIN: US88035PYP79, C.3 - LEI: N.A.
- **C.18 - Value (incl. sponsor support):** $150000.00
- **C.18.a - Value (excl. sponsor support):** $150000.00
- **C.19 - Percentage of Net Assets:** 1.6900%
- **C.17 - Yield as of Reporting Date:** 3.8000%
- **C.11 - Maturity Date (WAM):** 2025-10-01
- **C.12 - Maturity Date (WAL):** 2025-10-01
- **C.13 - Final Legal Maturity Date:** 2055-08-01
- **C.10 - Ratings:** Moody's Investors Service, Inc.: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? Yes, 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 34: REGENTS OF THE UNIVERSITY OF CALIFORNIA (THE)

- **C.1 - Title:** REGENTS OF THE UNIVERSITY OF CALIFORNIA (THE) 2.950000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 91412X6V5, C.3 - LEI: RRR42I7GG51DB5HDQR14
- **C.18 - Value (incl. sponsor support):** $170007.29
- **C.18.a - Value (excl. sponsor support):** $170007.29
- **C.19 - Percentage of Net Assets:** 1.9200%
- **C.17 - Yield as of Reporting Date:** 2.7000%
- **C.11 - Maturity Date (WAM):** 2025-10-08
- **C.12 - Maturity Date (WAL):** 2025-10-08
- **C.13 - Final Legal Maturity Date:** 2025-10-08
- **C.10 - Ratings:** Fitch, Inc.: F1+; Moody's Investors Service, Inc.: P-1; Standard and Poor's Ratings Services: 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 35: REGENTS OF THE UNIVERSITY OF CALIFORNIA (THE)

- **C.1 - Title:** REGENTS OF THE UNIVERSITY OF CALIFORNIA (THE) 2.500000%
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 91412YCR5, C.3 - LEI: RRR42I7GG51DB5HDQR14
- **C.18 - Value (incl. sponsor support):** $99999.77
- **C.18.a - Value (excl. sponsor support):** $99999.77
- **C.19 - Percentage of Net Assets:** 1.1300%
- **C.17 - Yield as of Reporting Date:** 2.5500%
- **C.11 - Maturity Date (WAM):** 2025-12-11
- **C.12 - Maturity Date (WAL):** 2025-12-11
- **C.13 - Final Legal Maturity Date:** 2025-12-11
- **C.10 - Ratings:** Fitch, Inc.: F1+; Moody's Investors Service, Inc.: P-1; Standard and Poor's Ratings Services: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

## N-MFP: Signatures

**Registrant:** Goldman Sachs Trust

**Date:** 2025-10-07

**By:** Peter W. Fortner

**Name of Signing Officer:** Peter W. Fortner

**Title of Signing Officer:** Assistant Treasurer