# EDGAR Filing Document

**Accession Number:** 0001890141
**File Stem:** 0001752724-25-132251
**Filing Date:** 2025-6
**Character Count:** 76729
**Document Hash:** 3bd3eec8952d15fea60bf2fa04faff84
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-132251.hdr.sgml**: 20250606

**ACCESSION NUMBER**: 0001752724-25-132251

**CONFORMED SUBMISSION TYPE**: N-MFP3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250606

**DATE AS OF CHANGE**: 20250606

**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:** 251030360

**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):** 2025-05-31

**Registrant Full Name:** First American Funds Trust

**CIK Number of Registrant:** 0001890141

**LEI of Registrant:** 25490017KPKDZG189N19

**Name of Series:** Retail Tax Free Obligations Fund

**LEI of Series:** 254900R8F8Y6ZLPEDJ84

**EDGAR Series Identifier:** S000074978

**Total number of share classes in the series:** 5

**Is this the fund's final filing on Form N-MFP?:** No

**Has the fund acquired or merged with another fund?:** No

## Part A: Series-Level Information about the Fund

### Service Providers
| Role                          | Details                                              | File/CIK Number   |
|:---|:---|:---|
| Investment Adviser            | U.S. Bancorp Asset Management, Inc.                  | 801-60125         |
| Independent Public Accountant | Ernst & Young, LLP<br>City: Minneapolis<br>State: MN |  |
| Administrator                 | U.S. Bancorp Asset Management, Inc.                  |  |
| Transfer Agent                | U.S. Bancorp Fund Services, LLC<br>CIK: 0001094770   | 085-11357         |

### Fund Characteristics & Assets

- **Securities Act File Number:** 333-260527

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

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

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

- **Money Market Fund Category:** Other Tax Exempt

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

- **WAM:** 37 days

- **WAL:** 37 days

- **Total Value of Portfolio Securities:** $388440301.43

- **Amortized Cost of Portfolio Securities:** $388451581.44

- **Cash:** $10550.09

- **Total Other Assets:** $1848954.77

- **Total Liabilities:** $3936719.12

- **Net Assets of Series:** $386363087.17

- **Number of Shares Outstanding (Series):** 386349747.9100

- **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 (%)   |
|:---|:---|:---|:---|:---|
| 2025-05-01 | $38182417.03              | $307457417.03              | 9.6000%                   | 77.0000%                   |
| 2025-05-02 | $38014285.17              | $307289285.17              | 9.5000%                   | 77.0000%                   |
| 2025-05-05 | $31383367.85              | $300658367.85              | 7.8000%                   | 74.8000%                   |
| 2025-05-06 | $29857540.10              | $299132540.10              | 7.5000%                   | 74.7000%                   |
| 2025-05-07 | $25959161.65              | $296134161.65              | 6.5000%                   | 74.6000%                   |
| 2025-05-08 | $25958003.10              | $297778003.10              | 6.5000%                   | 74.7000%                   |
| 2025-05-09 | $37976765.96              | $296701765.96              | 9.5000%                   | 74.6000%                   |
| 2025-05-12 | $45009604.64              | $293954604.64              | 11.4000%                  | 74.4000%                   |
| 2025-05-13 | $45007524.70              | $293117524.70              | 11.4000%                  | 74.4000%                   |
| 2025-05-14 | $28382455.30              | $290092455.30              | 7.3000%                   | 74.2000%                   |
| 2025-05-15 | $44352682.89              | $306062682.89              | 10.9000%                  | 75.2000%                   |
| 2025-05-16 | $35779015.48              | $297489015.48              | 9.0000%                   | 74.6000%                   |
| 2025-05-19 | $33424480.98              | $295134480.98              | 8.4000%                   | 74.4000%                   |
| 2025-05-20 | $31086091.32              | $292796091.32              | 7.9000%                   | 74.3000%                   |
| 2025-05-21 | $24394177.56              | $286104177.56              | 6.2000%                   | 72.7000%                   |
| 2025-05-22 | $22923978.48              | $283023978.48              | 5.9000%                   | 72.5000%                   |
| 2025-05-23 | $25039735.99              | $284399735.99              | 6.4000%                   | 72.6000%                   |
| 2025-05-27 | $23856154.78              | $283216154.78              | 6.1000%                   | 72.5000%                   |
| 2025-05-28 | $22980549.18              | $282340549.18              | 5.9000%                   | 72.4000%                   |
| 2025-05-29 | $22922512.75              | $284522512.75              | 5.8000%                   | 72.5000%                   |
| 2025-05-30 | $22924250.09              | $282564250.09              | 5.9000%                   | 72.4000%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2025-05-01 | 3.3000%             |
| 2025-05-02 | 3.0100%             |
| 2025-05-05 | 2.9100%             |
| 2025-05-06 | 2.8200%             |
| 2025-05-07 | 2.7300%             |
| 2025-05-08 | 2.6300%             |
| 2025-05-09 | 2.3700%             |
| 2025-05-12 | 2.3000%             |
| 2025-05-13 | 2.2300%             |
| 2025-05-14 | 2.3000%             |
| 2025-05-15 | 2.4700%             |
| 2025-05-16 | 2.9500%             |
| 2025-05-19 | 3.1000%             |
| 2025-05-20 | 3.2400%             |
| 2025-05-21 | 3.2400%             |
| 2025-05-22 | 3.1500%             |
| 2025-05-23 | 2.8200%             |
| 2025-05-27 | 2.7400%             |
| 2025-05-28 | 2.6800%             |
| 2025-05-29 | 2.6300%             |
| 2025-05-30 | 2.4700%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2025-05-01 | 0.9998                      |
|  |  |
| 2025-05-02 | 0.9998                      |
|  |  |
| 2025-05-05 | 0.9999                      |
|  |  |
| 2025-05-06 | 0.9999                      |
|  |  |
| 2025-05-07 | 0.9999                      |
|  |  |
| 2025-05-08 | 0.9999                      |
|  |  |
| 2025-05-09 | 1.0000                      |
|  |  |
| 2025-05-12 | 0.9999                      |
|  |  |
| 2025-05-13 | 0.9999                      |
|  |  |
| 2025-05-14 | 0.9999                      |
|  |  |
| 2025-05-15 | 0.9999                      |
|  |  |
| 2025-05-16 | 0.9999                      |
|  |  |
| 2025-05-19 | 1.0000                      |
|  |  |
| 2025-05-20 | 1.0000                      |
|  |  |
| 2025-05-21 | 1.0000                      |
|  |  |
| 2025-05-22 | 1.0000                      |
|  |  |
| 2025-05-23 | 1.0000                      |
|  |  |
| 2025-05-27 | 1.0000                      |
|  |  |
| 2025-05-28 | 1.0000                      |
|  |  |
| 2025-05-29 | 1.0000                      |
|  |  |
| 2025-05-30 | 1.0000                      |
|  |  |

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

### Class: Class Y

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $19100686.96

- **Number of Shares Outstanding:** 19093514.5100

- **Expense Reimbursement/Waiver:** 1867.22

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-05-01 | 1.0001          |
|  |  |
| 2025-05-02 | 1.0002          |
|  |  |
| 2025-05-05 | 1.0002          |
|  |  |
| 2025-05-06 | 1.0002          |
|  |  |
| 2025-05-07 | 1.0002          |
|  |  |
| 2025-05-08 | 1.0003          |
|  |  |
| 2025-05-09 | 1.0003          |
|  |  |
| 2025-05-12 | 1.0003          |
|  |  |
| 2025-05-13 | 1.0003          |
|  |  |
| 2025-05-14 | 1.0003          |
|  |  |
| 2025-05-15 | 1.0003          |
|  |  |
| 2025-05-16 | 1.0003          |
|  |  |
| 2025-05-19 | 1.0003          |
|  |  |
| 2025-05-20 | 1.0003          |
|  |  |
| 2025-05-21 | 1.0003          |
|  |  |
| 2025-05-22 | 1.0003          |
|  |  |
| 2025-05-23 | 1.0003          |
|  |  |
| 2025-05-27 | 1.0003          |
|  |  |
| 2025-05-28 | 1.0004          |
|  |  |
| 2025-05-29 | 1.0004          |
|  |  |
| 2025-05-30 | 1.0004          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-05-01 | $2039590.19               | $0.00                   |
| 2025-05-02 | $0.00                     | $1416378.03             |
| 2025-05-05 | $0.00                     | $361121.76              |
| 2025-05-06 | $0.00                     | $409891.40              |
| 2025-05-07 | $0.00                     | $664166.07              |
| 2025-05-08 | $118.97                   | $165141.59              |
| 2025-05-09 | $8171.52                  | $47270.30               |
| 2025-05-12 | $49834.60                 | $0.00                   |
| 2025-05-13 | $114658.40                | $0.00                   |
| 2025-05-14 | $14489.90                 | $114320.36              |
| 2025-05-15 | $1105336.72               | $0.00                   |
| 2025-05-16 | $0.00                     | $288025.32              |
| 2025-05-19 | $318742.37                | $0.00                   |
| 2025-05-20 | $509491.27                | $94367.24               |
| 2025-05-21 | $0.00                     | $415130.58              |
| 2025-05-22 | $0.00                     | $478390.10              |
| 2025-05-23 | $508369.62                | $201180.06              |
| 2025-05-27 | $0.00                     | $640109.84              |
| 2025-05-28 | $0.00                     | $464011.04              |
| 2025-05-29 | $1009056.87               | $663338.04              |
| 2025-05-30 | $89061.42                 | $0.00                   |

**Total Gross Subscriptions (Month):** $5766921.85

**Total Gross Redemptions (Month):** $6422841.73

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-05-01 | 2.8500%           |
| 2025-05-02 | 2.5600%           |
| 2025-05-05 | 2.4600%           |
| 2025-05-06 | 2.3800%           |
| 2025-05-07 | 2.2800%           |
| 2025-05-08 | 2.1800%           |
| 2025-05-09 | 1.9200%           |
| 2025-05-12 | 1.8500%           |
| 2025-05-13 | 1.7900%           |
| 2025-05-14 | 1.8500%           |
| 2025-05-15 | 2.0200%           |
| 2025-05-16 | 2.5100%           |
| 2025-05-19 | 2.6500%           |
| 2025-05-20 | 2.7900%           |
| 2025-05-21 | 2.7900%           |
| 2025-05-22 | 2.7000%           |
| 2025-05-23 | 2.3700%           |
| 2025-05-27 | 2.2900%           |
| 2025-05-28 | 2.2300%           |
| 2025-05-29 | 2.1800%           |
| 2025-05-30 | 2.0200%           |

**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:** $322540253.02

- **Number of Shares Outstanding:** 322576441.3000

- **Expense Reimbursement/Waiver:** 31534.73

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-05-01 | 0.9997          |
|  |  |
| 2025-05-02 | 0.9997          |
|  |  |
| 2025-05-05 | 0.9997          |
|  |  |
| 2025-05-06 | 0.9997          |
|  |  |
| 2025-05-07 | 0.9997          |
|  |  |
| 2025-05-08 | 0.9998          |
|  |  |
| 2025-05-09 | 0.9998          |
|  |  |
| 2025-05-12 | 0.9998          |
|  |  |
| 2025-05-13 | 0.9998          |
|  |  |
| 2025-05-14 | 0.9998          |
|  |  |
| 2025-05-15 | 0.9998          |
|  |  |
| 2025-05-16 | 0.9998          |
|  |  |
| 2025-05-19 | 0.9998          |
|  |  |
| 2025-05-20 | 0.9998          |
|  |  |
| 2025-05-21 | 0.9998          |
|  |  |
| 2025-05-22 | 0.9998          |
|  |  |
| 2025-05-23 | 0.9999          |
|  |  |
| 2025-05-27 | 0.9999          |
|  |  |
| 2025-05-28 | 0.9999          |
|  |  |
| 2025-05-29 | 0.9999          |
|  |  |
| 2025-05-30 | 0.9999          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-05-01 | $3054038.16               | $153031.32              |
| 2025-05-02 | $977399.55                | $397482.36              |
| 2025-05-05 | $3107037.77               | $293923.03              |
| 2025-05-06 | $22757.63                 | $1072643.08             |
| 2025-05-07 | $118.53                   | $2533301.98             |
| 2025-05-08 | $2517700.58               | $491294.95              |
| 2025-05-09 | $210528.65                | $1088011.80             |
| 2025-05-12 | $55169.22                 | $2727692.23             |
| 2025-05-13 | $61.53                    | $967042.93              |
| 2025-05-14 | $76652.22                 | $3002694.93             |
| 2025-05-15 | $14534595.16              | $0.00                   |
| 2025-05-16 | $1293126.66               | $9830745.84             |
| 2025-05-19 | $41.00                    | $2522961.43             |
| 2025-05-20 | $3491.36                  | $2731045.56             |
| 2025-05-21 | $0.00                     | $3172848.40             |
| 2025-05-22 | $0.00                     | $2635496.79             |
| 2025-05-23 | $1137376.94               | $3361.41                |
| 2025-05-27 | $0.00                     | $1008396.12             |
| 2025-05-28 | $220629.53                | $566560.31              |
| 2025-05-29 | $2290083.31               | $511267.34              |
| 2025-05-30 | $536.74                   | $1639436.60             |

**Total Gross Subscriptions (Month):** $29501344.54

**Total Gross Redemptions (Month):** $37349238.41

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-05-01 | 3.1000%           |
| 2025-05-02 | 2.8100%           |
| 2025-05-05 | 2.7100%           |
| 2025-05-06 | 2.6200%           |
| 2025-05-07 | 2.5300%           |
| 2025-05-08 | 2.4300%           |
| 2025-05-09 | 2.1700%           |
| 2025-05-12 | 2.1000%           |
| 2025-05-13 | 2.0300%           |
| 2025-05-14 | 2.1000%           |
| 2025-05-15 | 2.2700%           |
| 2025-05-16 | 2.7500%           |
| 2025-05-19 | 2.9000%           |
| 2025-05-20 | 3.0400%           |
| 2025-05-21 | 3.0400%           |
| 2025-05-22 | 2.9500%           |
| 2025-05-23 | 2.6200%           |
| 2025-05-27 | 2.5400%           |
| 2025-05-28 | 2.4800%           |
| 2025-05-29 | 2.4300%           |
| 2025-05-30 | 2.2700%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 99.1800%         | 0.0000%              |

### Class: Class T

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $15466097.94

- **Number of Shares Outstanding:** 15425018.0500

- **Expense Reimbursement/Waiver:** 1481.65

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-05-01 | 1.0025          |
|  |  |
| 2025-05-02 | 1.0025          |
|  |  |
| 2025-05-05 | 1.0025          |
|  |  |
| 2025-05-06 | 1.0025          |
|  |  |
| 2025-05-07 | 1.0025          |
|  |  |
| 2025-05-08 | 1.0026          |
|  |  |
| 2025-05-09 | 1.0026          |
|  |  |
| 2025-05-12 | 1.0026          |
|  |  |
| 2025-05-13 | 1.0026          |
|  |  |
| 2025-05-14 | 1.0026          |
|  |  |
| 2025-05-15 | 1.0026          |
|  |  |
| 2025-05-16 | 1.0026          |
|  |  |
| 2025-05-19 | 1.0026          |
|  |  |
| 2025-05-20 | 1.0026          |
|  |  |
| 2025-05-21 | 1.0026          |
|  |  |
| 2025-05-22 | 1.0026          |
|  |  |
| 2025-05-23 | 1.0026          |
|  |  |
| 2025-05-27 | 1.0026          |
|  |  |
| 2025-05-28 | 1.0026          |
|  |  |
| 2025-05-29 | 1.0027          |
|  |  |
| 2025-05-30 | 1.0027          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-05-01 | $1858.54                  | $0.00                   |
| 2025-05-02 | $38678.96                 | $0.00                   |
| 2025-05-05 | $0.00                     | $5000.00                |
| 2025-05-06 | $526.97                   | $0.00                   |
| 2025-05-07 | $0.00                     | $0.00                   |
| 2025-05-08 | $0.00                     | $0.00                   |
| 2025-05-09 | $32.91                    | $0.00                   |
| 2025-05-12 | $0.00                     | $0.00                   |
| 2025-05-13 | $0.00                     | $5000.00                |
| 2025-05-14 | $0.00                     | $3.00                   |
| 2025-05-15 | $312.00                   | $0.00                   |
| 2025-05-16 | $0.00                     | $0.00                   |
| 2025-05-19 | $0.00                     | $0.00                   |
| 2025-05-20 | $288.00                   | $0.00                   |
| 2025-05-21 | $0.00                     | $1123.30                |
| 2025-05-22 | $0.00                     | $0.00                   |
| 2025-05-23 | $5.60                     | $0.00                   |
| 2025-05-27 | $0.00                     | $0.00                   |
| 2025-05-28 | $0.00                     | $35000.00               |
| 2025-05-29 | $593.18                   | $0.00                   |
| 2025-05-30 | $0.00                     | $0.00                   |

**Total Gross Subscriptions (Month):** $42296.16

**Total Gross Redemptions (Month):** $46126.30

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-05-01 | 2.9100%           |
| 2025-05-02 | 2.6200%           |
| 2025-05-05 | 2.5100%           |
| 2025-05-06 | 2.4300%           |
| 2025-05-07 | 2.3300%           |
| 2025-05-08 | 2.2300%           |
| 2025-05-09 | 1.9800%           |
| 2025-05-12 | 1.9000%           |
| 2025-05-13 | 1.8400%           |
| 2025-05-14 | 1.9100%           |
| 2025-05-15 | 2.0800%           |
| 2025-05-16 | 2.5600%           |
| 2025-05-19 | 2.7100%           |
| 2025-05-20 | 2.8400%           |
| 2025-05-21 | 2.8500%           |
| 2025-05-22 | 2.7600%           |
| 2025-05-23 | 2.4300%           |
| 2025-05-27 | 2.3500%           |
| 2025-05-28 | 2.2800%           |
| 2025-05-29 | 2.2300%           |
| 2025-05-30 | 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:** $29224053.31

- **Number of Shares Outstanding:** 29222760.0700

- **Expense Reimbursement/Waiver:** 2791.93

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-05-01 | 0.9999          |
|  |  |
| 2025-05-02 | 0.9998          |
|  |  |
| 2025-05-05 | 0.9999          |
|  |  |
| 2025-05-06 | 0.9999          |
|  |  |
| 2025-05-07 | 0.9999          |
|  |  |
| 2025-05-08 | 1.0000          |
|  |  |
| 2025-05-09 | 1.0000          |
|  |  |
| 2025-05-12 | 1.0000          |
|  |  |
| 2025-05-13 | 1.0000          |
|  |  |
| 2025-05-14 | 0.9999          |
|  |  |
| 2025-05-15 | 1.0000          |
|  |  |
| 2025-05-16 | 1.0000          |
|  |  |
| 2025-05-19 | 1.0000          |
|  |  |
| 2025-05-20 | 1.0000          |
|  |  |
| 2025-05-21 | 1.0000          |
|  |  |
| 2025-05-22 | 1.0000          |
|  |  |
| 2025-05-23 | 1.0000          |
|  |  |
| 2025-05-27 | 1.0000          |
|  |  |
| 2025-05-28 | 1.0000          |
|  |  |
| 2025-05-29 | 1.0000          |
|  |  |
| 2025-05-30 | 1.0000          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-05-01 | $13034.70                 | $41083.93               |
| 2025-05-02 | $641465.85                | $11907.61               |
| 2025-05-05 | $12390.64                 | $50365.05               |
| 2025-05-06 | $0.00                     | $56468.64               |
| 2025-05-07 | $106273.99                | $34231.53               |
| 2025-05-08 | $0.00                     | $216707.79              |
| 2025-05-09 | $0.00                     | $160556.07              |
| 2025-05-12 | $0.00                     | $128174.45              |
| 2025-05-13 | $26688.93                 | $688.72                 |
| 2025-05-14 | $112.75                   | $1544.76                |
| 2025-05-15 | $358014.08                | $24708.88               |
| 2025-05-16 | $251618.60                | $0.00                   |
| 2025-05-19 | $0.00                     | $152799.48              |
| 2025-05-20 | $0.00                     | $29055.99               |
| 2025-05-21 | $0.00                     | $71295.02               |
| 2025-05-22 | $30668.17                 | $0.00                   |
| 2025-05-23 | $0.00                     | $63592.22               |
| 2025-05-27 | $470783.77                | $7643.00                |
| 2025-05-28 | $1216.01                  | $33510.87               |
| 2025-05-29 | $79967.71                 | $19304.94               |
| 2025-05-30 | $494.70                   | $412059.38              |

**Total Gross Subscriptions (Month):** $1992729.90

**Total Gross Redemptions (Month):** $1515698.33

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-05-01 | 2.5500%           |
| 2025-05-02 | 2.2600%           |
| 2025-05-05 | 2.1600%           |
| 2025-05-06 | 2.0700%           |
| 2025-05-07 | 1.9800%           |
| 2025-05-08 | 1.8800%           |
| 2025-05-09 | 1.6200%           |
| 2025-05-12 | 1.5500%           |
| 2025-05-13 | 1.4800%           |
| 2025-05-14 | 1.5500%           |
| 2025-05-15 | 1.7200%           |
| 2025-05-16 | 2.2000%           |
| 2025-05-19 | 2.3500%           |
| 2025-05-20 | 2.4900%           |
| 2025-05-21 | 2.4900%           |
| 2025-05-22 | 2.4000%           |
| 2025-05-23 | 2.0700%           |
| 2025-05-27 | 1.9900%           |
| 2025-05-28 | 1.9300%           |
| 2025-05-29 | 1.8800%           |
| 2025-05-30 | 1.7200%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 74.0100%         | 0.0000%              |

### Class: Class V

- **Minimum Initial Investment:** $1.00

- **Net Assets of Class:** $31995.94

- **Number of Shares Outstanding:** 32013.9800

- **Expense Reimbursement/Waiver:** 2.68

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-05-01 | 0.9990          |
|  |  |
| 2025-05-02 | 0.9990          |
|  |  |
| 2025-05-05 | 0.9991          |
|  |  |
| 2025-05-06 | 0.9991          |
|  |  |
| 2025-05-07 | 0.9991          |
|  |  |
| 2025-05-08 | 0.9992          |
|  |  |
| 2025-05-09 | 0.9992          |
|  |  |
| 2025-05-12 | 0.9992          |
|  |  |
| 2025-05-13 | 0.9992          |
|  |  |
| 2025-05-14 | 0.9991          |
|  |  |
| 2025-05-15 | 0.9994          |
|  |  |
| 2025-05-16 | 0.9994          |
|  |  |
| 2025-05-19 | 0.9994          |
|  |  |
| 2025-05-20 | 0.9994          |
|  |  |
| 2025-05-21 | 0.9994          |
|  |  |
| 2025-05-22 | 0.9994          |
|  |  |
| 2025-05-23 | 0.9994          |
|  |  |
| 2025-05-27 | 0.9994          |
|  |  |
| 2025-05-28 | 0.9994          |
|  |  |
| 2025-05-29 | 0.9994          |
|  |  |
| 2025-05-30 | 0.9994          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-05-01 | $2.72                     | $6125.00                |
| 2025-05-02 | $42.19                    | $0.00                   |
| 2025-05-05 | $140.90                   | $0.00                   |
| 2025-05-06 | $0.00                     | $0.00                   |
| 2025-05-07 | $0.00                     | $0.00                   |
| 2025-05-08 | $0.00                     | $0.00                   |
| 2025-05-09 | $0.00                     | $0.00                   |
| 2025-05-12 | $0.00                     | $0.00                   |
| 2025-05-13 | $0.00                     | $0.00                   |
| 2025-05-14 | $0.00                     | $0.00                   |
| 2025-05-15 | $8762.50                  | $0.00                   |
| 2025-05-16 | $0.00                     | $0.00                   |
| 2025-05-19 | $0.00                     | $0.00                   |
| 2025-05-20 | $0.00                     | $0.00                   |
| 2025-05-21 | $0.00                     | $0.00                   |
| 2025-05-22 | $0.00                     | $0.00                   |
| 2025-05-23 | $0.00                     | $162.33                 |
| 2025-05-27 | $0.00                     | $0.00                   |
| 2025-05-28 | $0.00                     | $0.00                   |
| 2025-05-29 | $0.00                     | $0.00                   |
| 2025-05-30 | $0.00                     | $0.00                   |

**Total Gross Subscriptions (Month):** $8948.31

**Total Gross Redemptions (Month):** $6287.33

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-05-01 | 3.0000%           |
| 2025-05-02 | 2.7100%           |
| 2025-05-05 | 2.6000%           |
| 2025-05-06 | 2.5200%           |
| 2025-05-07 | 2.4300%           |
| 2025-05-08 | 2.3200%           |
| 2025-05-09 | 2.0700%           |
| 2025-05-12 | 1.9900%           |
| 2025-05-13 | 1.9300%           |
| 2025-05-14 | 2.0000%           |
| 2025-05-15 | 2.1700%           |
| 2025-05-16 | 2.6600%           |
| 2025-05-19 | 2.8100%           |
| 2025-05-20 | 2.9500%           |
| 2025-05-21 | 2.9500%           |
| 2025-05-22 | 2.8600%           |
| 2025-05-23 | 2.5400%           |
| 2025-05-27 | 2.4500%           |
| 2025-05-28 | 2.3900%           |
| 2025-05-29 | 2.3400%           |
| 2025-05-30 | 2.1900%           |

**Beneficial/Record Owner Categories**
| Category                                            | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Depository institution or other banking institution |  | 96.8600%         | 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:** 3.4200%
- **C.17 - Yield as of Reporting Date:** 2.0500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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):** $14999551.50
- **C.18.a - Value (excl. sponsor support):** $14999551.50
- **C.19 - Percentage of Net Assets:** 3.8800%
- **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:** 2.0500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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):** $9002232.90
- **C.18.a - Value (excl. sponsor support):** $9002232.90
- **C.19 - Percentage of Net Assets:** 2.3300%
- **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:** Standard and Poors Long: A-1+; Moodys Long: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 5: MASONIC VLGS GRAND LODGE

- **C.1 - Title:** Lancaster County Hospital Authority, Masonic Homes Project, Series 2008D
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 514045ZG1, C.4 - ISIN: US514045ZG18, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $7130000.00
- **C.18.a - Value (excl. sponsor support):** $7130000.00
- **C.19 - Percentage of Net Assets:** 1.8500%
- **C.17 - Yield as of Reporting Date:** 3.0000%
- **C.11 - Maturity Date (WAM):** 2025-06-02
- **C.12 - Maturity Date (WAL):** 2025-06-02
- **C.13 - Final Legal Maturity Date:** 2034-07-01
- **C.10 - Ratings:** 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? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 6: 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:** 1.5500%
- **C.17 - Yield as of Reporting Date:** 2.0000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 7: 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):** $8877270.50
- **C.18.a - Value (excl. sponsor support):** $8877270.50
- **C.19 - Percentage of Net Assets:** 2.3000%
- **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 8: 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):** $3906305.44
- **C.18.a - Value (excl. sponsor support):** $3906305.44
- **C.19 - Percentage of Net Assets:** 1.0100%
- **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 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:** 4.6100%
- **C.17 - Yield as of Reporting Date:** 1.9000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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):** $3008945.10
- **C.18.a - Value (excl. sponsor support):** $3008945.10
- **C.19 - Percentage of Net Assets:** 0.7800%
- **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: 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):** $5008368.50
- **C.18.a - Value (excl. sponsor support):** $5008368.50
- **C.19 - Percentage of Net Assets:** 1.3000%
- **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 12: 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:** 3.1100%
- **C.17 - Yield as of Reporting Date:** 1.9500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 13: 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:** 1.8500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 14: RICHARD H DRIEHAUS MUSEUM

- **C.1 - Title:** Illinois Finance Authority, Richard Driehaus Foundation, Series 2005
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45200BKX5, C.4 - ISIN: US45200BKX54, C.3 - LEI: 549300ZG6UBPNNNRN315
- **C.18 - Value (incl. sponsor support):** $12100000.00
- **C.18.a - Value (excl. sponsor support):** $12100000.00
- **C.19 - Percentage of Net Assets:** 3.1300%
- **C.17 - Yield as of Reporting Date:** 2.3000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **C.13 - Final Legal Maturity Date:** 2035-02-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: Aa3
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 15: NORTON HEALTHCARE OBLIG

- **C.1 - Title:** Louisville/Jefferson County Metro Government, Norton Healthcare, Inc, Series 2013C
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 54659LAW4, C.4 - ISIN: US54659LAW46, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $14990000.00
- **C.18.a - Value (excl. sponsor support):** $14990000.00
- **C.19 - Percentage of Net Assets:** 3.8800%
- **C.17 - Yield as of Reporting Date:** 2.1000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **C.13 - Final Legal Maturity Date:** 2043-10-01
- **C.10 - Ratings:** Fitch Long: A+; Standard and Poors Long: AA; Standard and Poors Short: A-1; Fitch Short: F1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 16: ANDERSON TWP OH PARK DIST

- **C.1 - Title:** Anderson Township Park District, Ohio, General Obligation Notes, Series 2025
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 034150AV4, C.4 - ISIN: US034150AV42, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $4106537.04
- **C.18.a - Value (excl. sponsor support):** $4106537.04
- **C.19 - Percentage of Net Assets:** 1.0600%
- **C.17 - Yield as of Reporting Date:** 3.1200%
- **C.11 - Maturity Date (WAM):** 2026-03-11
- **C.12 - Maturity Date (WAL):** 2026-03-11
- **C.13 - Final Legal Maturity Date:** 2026-03-11
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 17: PARKVIEW HEALTH SYSTEM

- **C.1 - Title:** Indiana Finance Authority, Parkview Health System Obligated Group, Series 2009C
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45471AAQ5, C.4 - ISIN: US45471AAQ58, C.3 - LEI: 549300PS0PAS7NDSSI20
- **C.18 - Value (incl. sponsor support):** $2175000.00
- **C.18.a - Value (excl. sponsor support):** $2175000.00
- **C.19 - Percentage of Net Assets:** 0.5600%
- **C.17 - Yield as of Reporting Date:** 2.1000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **C.13 - Final Legal Maturity Date:** 2039-11-01
- **C.10 - Ratings:** Standard and Poors Long: AA+; Moodys Short: VMIG1; Standard and Poors Short: A-1; Moodys Long: Aa1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 18: MACON GA WTR AUTH

- **C.1 - Title:** Macon Water Authority, Tax-Exempt Adjustable Mode Water & Sewer Refunding and Improvement Revenue Bonds, Series 2018B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 555758HX2, C.4 - ISIN: US555758HX27, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $17120000.00
- **C.18.a - Value (excl. sponsor support):** $17120000.00
- **C.19 - Percentage of Net Assets:** 4.4300%
- **C.17 - Yield as of Reporting Date:** 2.0000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **C.13 - Final Legal Maturity Date:** 2038-10-01
- **C.10 - Ratings:** Standard and Poors Long: AA; Moodys Long: Aa2; Standard and Poors Short: A-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 19: CLARK CNTY NV ARPT REVENUE

- **C.1 - Title:** Clark County, Nevada Airport System, Series 2008D-2B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 18085PNC4, C.4 - ISIN: US18085PNC40, C.3 - LEI: 549300LDD8NZB2EOVG83
- **C.18 - Value (incl. sponsor support):** $4720000.00
- **C.18.a - Value (excl. sponsor support):** $4720000.00
- **C.19 - Percentage of Net Assets:** 1.2200%
- **C.17 - Yield as of Reporting Date:** 2.0000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **C.13 - Final Legal Maturity Date:** 2040-07-01
- **C.10 - Ratings:** Moodys Long: Aa1; Fitch Short: F1; Fitch Long: A; Moodys Short: VMIG1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 20: UNIVERSITY OF 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):** $12998384.10
- **C.18.a - Value (excl. sponsor support):** $12998384.10
- **C.19 - Percentage of Net Assets:** 3.3600%
- **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? No, C.23 Categorized at Level 3? No

### Security 21: SPRINGFIELD-CLARK CAREER TECH

- **C.1 - Title:** Springfield-Clark Career Tech Center General Obligation Note, Series 2024
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 85045AAA3, C.4 - ISIN: US85045AAA34, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $9705873.35
- **C.18.a - Value (excl. sponsor support):** $9705873.35
- **C.19 - Percentage of Net Assets:** 2.5100%
- **C.17 - Yield as of Reporting Date:** 3.2600%
- **C.11 - Maturity Date (WAM):** 2025-06-23
- **C.12 - Maturity Date (WAL):** 2025-06-23
- **C.13 - Final Legal Maturity Date:** 2025-06-23
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 22: ESSEX CNTY NJ IMPT AUTH

- **C.1 - Title:** Essex County Improvement Authority, New Jersey, Series 1986
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 296809AC0, C.4 - ISIN: US296809AC03, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $330000.00
- **C.18.a - Value (excl. sponsor support):** $330000.00
- **C.19 - Percentage of Net Assets:** 0.0900%
- **C.17 - Yield as of Reporting Date:** 2.4500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 23: 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):** $4335280.70
- **C.18.a - Value (excl. sponsor support):** $4335280.70
- **C.19 - Percentage of Net Assets:** 1.1200%
- **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 24: 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):** $11980722.45
- **C.18.a - Value (excl. sponsor support):** $11980722.45
- **C.19 - Percentage of Net Assets:** 3.1000%
- **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 25: 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:** 3.9500%
- **C.17 - Yield as of Reporting Date:** 1.9500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 26: 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:** 2.5200%
- **C.17 - Yield as of Reporting Date:** 1.8000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 27: 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):** $3295000.00
- **C.18.a - Value (excl. sponsor support):** $3295000.00
- **C.19 - Percentage of Net Assets:** 0.8500%
- **C.17 - Yield as of Reporting Date:** 2.1500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 28: 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:** 3.3200%
- **C.17 - Yield as of Reporting Date:** 2.0000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 29: 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:** 2.7400%
- **C.17 - Yield as of Reporting Date:** 1.9000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 30: 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):** $18820000.00
- **C.18.a - Value (excl. sponsor support):** $18820000.00
- **C.19 - Percentage of Net Assets:** 4.8700%
- **C.17 - Yield as of Reporting Date:** 3.0000%
- **C.11 - Maturity Date (WAM):** 2025-06-02
- **C.12 - Maturity Date (WAL):** 2025-06-02
- **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 31: 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):** $5565990.34
- **C.18.a - Value (excl. sponsor support):** $5565990.34
- **C.19 - Percentage of Net Assets:** 1.4400%
- **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 32: 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:** 0.1200%
- **C.17 - Yield as of Reporting Date:** 1.8500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 33: PORT TACOMA WA REVENUE

- **C.1 - Title:** Port of Tacoma, Subordinate Lien Revenue Bonds, Series 2008B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 735439NE7, C.4 - ISIN: US735439NE76, C.3 - LEI: 549300MLYO8L64QKXV81
- **C.18 - Value (incl. sponsor support):** $19000000.00
- **C.18.a - Value (excl. sponsor support):** $19000000.00
- **C.19 - Percentage of Net Assets:** 4.9200%
- **C.17 - Yield as of Reporting Date:** 1.8500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **C.13 - Final Legal Maturity Date:** 2044-12-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: Aa1; Standard and Poors Long: AA+; Standard and Poors Short: A-1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 34: 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:** 0.1600%
- **C.17 - Yield as of Reporting Date:** 1.4000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 35: DELAWARE OH

- **C.1 - Title:** City of Delaware, Ohio, Fire Station & Land Acquistion
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 246181UP4, C.4 - ISIN: US246181UP49, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $5015719.50
- **C.18.a - Value (excl. sponsor support):** $5015719.50
- **C.19 - Percentage of Net Assets:** 1.3000%
- **C.17 - Yield as of Reporting Date:** 3.1600%
- **C.11 - Maturity Date (WAM):** 2026-04-16
- **C.12 - Maturity Date (WAL):** 2026-04-16
- **C.13 - Final Legal Maturity Date:** 2026-04-16
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 36: 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:** 2.5300%
- **C.17 - Yield as of Reporting Date:** 1.9500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 37: 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:** 2.5400%
- **C.17 - Yield as of Reporting Date:** 2.1000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 38: 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):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 39: 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:** 1.9500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 40: 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):** $12900000.00
- **C.18.a - Value (excl. sponsor support):** $12900000.00
- **C.19 - Percentage of Net Assets:** 3.3400%
- **C.17 - Yield as of Reporting Date:** 2.1500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 41: 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:** 2.1000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 42: 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:** 1.3200%
- **C.17 - Yield as of Reporting Date:** 2.1000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 43: MARYLAND ST HLTH & HGR EDUCTNL

- **C.1 - Title:** Maryland State Health and Higher Educational Facilities Authority, Series 1985B
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 574215RD3, C.4 - ISIN: US574215RD35, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $7655000.00
- **C.18.a - Value (excl. sponsor support):** $7655000.00
- **C.19 - Percentage of Net Assets:** 1.9800%
- **C.17 - Yield as of Reporting Date:** 2.1500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **C.13 - Final Legal Maturity Date:** 2035-04-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: A1; Fitch Long: AA-
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 44: 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):** $3037153.50
- **C.18.a - Value (excl. sponsor support):** $3037153.50
- **C.19 - Percentage of Net Assets:** 0.7900%
- **C.17 - Yield as of Reporting Date:** 3.0000%
- **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 45: 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:** 1.8600%
- **C.17 - Yield as of Reporting Date:** 2.0500%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 46: 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:** 5.1700%
- **C.17 - Yield as of Reporting Date:** 2.1000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **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 47: LATIN SCHOOL OF CHICAGO

- **C.1 - Title:** Illinois Finance Authority, The Latin School of Chicago Project, Series 2005A
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 45200BVC9, C.4 - ISIN: US45200BVC98, C.3 - LEI: 549300ZG6UBPNNNRN315
- **C.18 - Value (incl. sponsor support):** $4195000.00
- **C.18.a - Value (excl. sponsor support):** $4195000.00
- **C.19 - Percentage of Net Assets:** 1.0900%
- **C.17 - Yield as of Reporting Date:** 1.9000%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **C.13 - Final Legal Maturity Date:** 2028-08-01
- **C.10 - Ratings:** Moodys Short: VMIG1; Moodys Long: Aa2
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 48: WYOMING OH

- **C.1 - Title:** City of Wyoming, Ohio, General Obligation Note, Series 2024
- **C.6 - Investment Category:** Other Municipal Security
- **Identifiers:** C.3 - CUSIP: 983425FE4, C.4 - ISIN: US983425FE45, C.3 - LEI: N/A
- **C.18 - Value (incl. sponsor support):** $1301966.51
- **C.18.a - Value (excl. sponsor support):** $1301966.51
- **C.19 - Percentage of Net Assets:** 0.3400%
- **C.17 - Yield as of Reporting Date:** 3.2200%
- **C.11 - Maturity Date (WAM):** 2025-10-15
- **C.12 - Maturity Date (WAL):** 2025-10-15
- **C.13 - Final Legal Maturity Date:** 2025-10-15
- **C.10 - Ratings:** Standard and Poors Short: SP-1+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 49: CLARK CNTY NV ARPT REVENUE

- **C.1 - Title:** Clark County, Nevada Airport System, Series 2008D-2A
- **C.6 - Investment Category:** Variable Rate Demand Note
- **Identifiers:** C.3 - CUSIP: 18085PMX9, C.4 - ISIN: US18085PMX95, C.3 - LEI: 549300LDD8NZB2EOVG83
- **C.18 - Value (incl. sponsor support):** $9300000.00
- **C.18.a - Value (excl. sponsor support):** $9300000.00
- **C.19 - Percentage of Net Assets:** 2.4100%
- **C.17 - Yield as of Reporting Date:** 2.0800%
- **C.11 - Maturity Date (WAM):** 2025-06-06
- **C.12 - Maturity Date (WAL):** 2025-06-06
- **C.13 - Final Legal Maturity Date:** 2040-07-01
- **C.10 - Ratings:** Fitch Long: AA-; Moodys Short: VMIG1; Standard and Poors Short: A-1; Standard and Poors Long: AA+; Moodys Long: Aa1
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? Yes, C.15 Has Guarantee? Yes, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

## N-MFP: Signatures

**Registrant:** First American Funds Trust

**Date:** 2025-06-06

**By:** Brent G. Smith

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

**Title of Signing Officer:** Assistant Treasurer