Fidelity Phillips Street Trust

07/23/2026 | Press release | Distributed by Public on 07/23/2026 09:13

Semi-Annual Report by Investment Company (Form N-CSRS)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-02890

Fidelity Phillips Street Trust

(Exact name of registrant as specified in charter)

245 Summer St., Boston, MA 02210

(Address of principal executive offices) (Zip code)

Nicole Macarchuk, Secretary

245 Summer St.

Boston, Massachusetts 02210

(Name and address of agent for service)

Registrant's telephone number, including area code:

617-563-7000

Date of fiscal year end:

November 30

Date of reporting period:

May 31, 2026

Item 1.

Reports to Stockholders

SEMI-ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2026
Fidelity® Government Cash Reserves
Fidelity® Government Cash Reserves : FDRXX
This semi-annual shareholder report contains information about Fidelity® Government Cash Reserves for the period December 1, 2025 to May 31, 2026. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to [email protected].
What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
Fidelity® Government Cash Reserves
$ 18
0.35%
Key Fund Statistics
(as of May 31, 2026)
KEY FACTS
Fund Size
$246,582,952,605
Number of Holdings
738
What did the Fund invest in?
(as of May 31, 2026)
EFFECTIVE MATURITY DIVERSIFICATION
(% of Fund's net assets)
Days
1-7
61.1
8-30
5.5
31-60
9.8
61-90
5.5
91-180
12.5
>180
7.7
ASSET ALLOCATION (% of Fund's net assets)
Repurchase Agreements - 41.6
U.S. Treasury Obligations - 30.9
U.S. Government Agency - Debt - 29.9
Net Other Assets (Liabilities) - (2.4)%
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2026 FMR LLC. All rights reserved.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9915844.102 55-TSRS-0726

Item 2.

Code of Ethics

Not applicable.

Item 3.

Audit Committee Financial Expert

Not applicable.

Item 4.

Principal Accountant Fees and Services

Not applicable.

Item 5.

Audit Committee of Listed Registrants

Not applicable.

Item 6.

Investments

(a)

Not applicable.

(b)

Not applicable

Item 7.

Financial Statements and Financial Highlights for Open-End Management Investment Companies

Fidelity® Government Cash Reserves
Semi-Annual Report
May 31, 2026

Contents

Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)

Fidelity® Government Cash Reserves

Notes to Financial Statements

Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies

Item 9: Proxy Disclosures for Open-End Management Investment Companies

Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies

Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2026 FMR LLC. All rights reserved.
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)
Fidelity® Government Cash Reserves
Schedule of Investments May 31, 2026 (Unaudited)
Showing Percentage of Net Assets
Repurchase Agreements - 41.6%
Maturity
Amount ($)
Value ($)
Fixed Income Clearing Corp - Credit Agricole 3.65%, dated 6/1/2026 due 6/2/2026 (b)
1,975,200,243
1,975,000,000
Fixed Income Clearing Corp - Credit Agricole 3.65%, dated 6/1/2026 due 6/2/2026 (b)
1,741,176,518
1,741,000,000
Investments in repurchase agreements in a joint trading account at 3.62%, dated 5/29/2026 due 6/1/2026 (Collateralized by U.S. Government Obligations)#
10,822,746,850
10,819,480,000
Investments in repurchase agreements in a joint trading account at 3.62%, dated 5/29/2026 due 6/1/2026 (Collateralized by U.S. Government Obligations)#
25,447,674
25,440,000
Sumitomo Mitsui Banking Corp 3.7%, dated 6/3/2026 due 6/17/2026 (b)
39,056,117
39,000,000
Repurchase Agreements*
88,069,428,251
87,903,931,000
TOTAL REPURCHASE AGREEMENTS
(Cost $102,503,851,000)
102,503,851,000
U.S. Government Agency - Debt - 29.9%
Yield (%) (c)
Principal
Amount (a)
Value ($)
Fannie Mae U.S. SOFR Index + 0.1%, 3.72% 6/18/2026 (d)(e)
3.72
365,000,000
365,000,000
Fannie Mae U.S. SOFR Index + 0.135%, 3.755% 8/21/2026 (d)(e)
3.75 to 3.76
80,000,000
80,003,322
Fannie Mae U.S. SOFR Index + 0.14%, 3.76% 10/23/2026 (d)(e)
3.76
369,000,000
369,002,886
Fannie Mae U.S. SOFR Index + 0.14%, 3.76% 9/11/2026 (d)(e)
3.76
602,000,000
602,000,000
Federal Farm Credit Banks Funding Corp 3.67% 7/14/2027 (d)(e)
3.68
14,000,000
14,000,000
Federal Farm Credit Banks Funding Corp 3.71% 7/2/2027 (d)(e)
3.69
33,000,000
33,000,000
Federal Farm Credit Banks Funding Corp 3.75% 6/2/2028 (d)(e)
3.73
111,000,000
111,000,000
Federal Farm Credit Banks Funding Corp 4.75% 7/8/2026
3.63
12,000,000
12,013,430
Federal Farm Credit Banks Funding Corp Federal Reserve Index -2.99%, 3.76% 6/18/2026 (d)(e)
3.76
31,750,000
31,750,381
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.005%, 3.625% 6/23/2026 (d)(e)
3.62
22,000,000
22,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.015%, 3.635% 8/20/2026 (d)(e)
3.63
24,000,000
24,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.015%, 3.635% 9/29/2026 (d)(e)
3.63
16,000,000
16,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.02%, 3.64% 10/6/2026 (d)(e)
3.64
68,000,000
68,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.025%, 3.645% 11/3/2026 (d)(e)
3.65
23,000,000
23,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.025%, 3.645% 6/5/2026 (d)(e)
3.65
25,000,000
25,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.03%, 3.65% 12/8/2026 (d)(e)
3.65
34,000,000
33,998,236
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.03%, 3.65% 7/28/2026 (d)(e)
3.65
18,000,000
18,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.035%, 3.655% 1/21/2027 (d)(e)
3.66
76,000,000
76,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.035%, 3.655% 1/21/2027 (d)(e)
3.66
18,000,000
18,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.035%, 3.655% 1/6/2027 (d)(e)
3.66
80,000,000
80,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.035%, 3.655% 2/9/2027 (d)(e)
3.66
57,000,000
57,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.035%, 3.655% 3/18/2027 (d)(e)
3.66
73,000,000
73,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.035%, 3.655% 3/8/2027 (d)(e)
3.66
97,000,000
97,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.04%, 3.66% 10/20/2026 (d)(e)
3.66
17,000,000
17,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.04%, 3.66% 2/1/2027 (d)(e)
3.66
130,000,000
129,999,350
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.04%, 3.66% 2/12/2027 (d)(e)
3.66
59,000,000
59,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.04%, 3.66% 2/16/2027 (d)(e)
3.66
23,000,000
23,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.04%, 3.66% 4/1/2027 (d)(e)
3.66
55,000,000
55,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.04%, 3.66% 4/26/2027 (d)(e)
3.66
167,000,000
167,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.04%, 3.66% 5/4/2027 (d)(e)
3.66
36,000,000
36,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.04%, 3.66% 6/2/2026 (d)(e)
3.66
19,000,000
19,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.04%, 3.66% 6/4/2026 (d)(e)
3.66
34,000,000
34,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.04%, 3.66% 6/9/2026 (d)(e)
3.66
23,000,000
23,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.04%, 3.66% 7/14/2026 (d)(e)
3.66
43,000,000
43,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.04%, 3.66% 7/9/2026 (d)(e)
3.66
117,000,000
117,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.045%, 3.665% 10/2/2026 (d)(e)
3.67
89,000,000
89,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.045%, 3.665% 10/27/2026 (d)(e)
3.67
99,000,000
99,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.045%, 3.665% 3/3/2027 (d)(e)
3.67
23,000,000
23,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.045%, 3.665% 4/15/2027 (d)(e)
3.67
13,000,000
12,998,251
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.045%, 3.665% 4/19/2027 (d)(e)
3.67
22,000,000
22,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.045%, 3.665% 5/26/2027 (d)(e)
3.67
73,000,000
73,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.05%, 3.67% 1/29/2027 (d)(e)
3.67
38,000,000
38,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.05%, 3.67% 10/2/2026 (d)(e)
3.67
12,000,000
12,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.05%, 3.67% 4/23/2027 (d)(e)
3.67
59,000,000
59,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.05%, 3.67% 5/20/2027 (d)(e)
3.67
47,000,000
47,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.05%, 3.67% 5/6/2027 (d)(e)
3.67
65,000,000
65,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.05%, 3.67% 6/16/2027 (d)(e)
3.67
129,000,000
128,990,764
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.05%, 3.67% 6/17/2027 (d)(e)
3.67
38,000,000
38,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.05%, 3.67% 6/23/2027 (d)(e)
3.67
56,000,000
56,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.05%, 3.67% 7/12/2027 (d)(e)
3.67
91,000,000
90,998,445
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.05%, 3.67% 7/20/2027 (d)(e)
3.67
39,000,000
39,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.05%, 3.67% 7/8/2027 (d)(e)
3.67
35,000,000
35,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.05%, 3.67% 8/18/2026 (d)(e)
3.67
14,000,000
14,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.05%, 3.67% 8/28/2026 (d)(e)
3.67
52,000,000
52,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.055%, 3.675% 5/24/2027 (d)(e)
3.67
58,000,000
58,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.055%, 3.675% 6/23/2027 (d)(e)
3.67
66,000,000
66,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.055%, 3.675% 7/16/2027 (d)(e)
3.67
30,000,000
30,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.055%, 3.675% 7/21/2026 (d)(e)
3.67
41,000,000
41,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.055%, 3.675% 7/30/2026 (d)(e)
3.67
28,000,000
28,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.055%, 3.675% 8/10/2027 (d)(e)
3.67
41,000,000
41,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.055%, 3.675% 8/26/2027 (d)(e)
3.67
39,000,000
39,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.06%, 3.68% 10/5/2026 (d)(e)
3.68
22,000,000
22,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.06%, 3.68% 10/8/2027 (d)(e)
3.68
45,000,000
45,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.06%, 3.68% 4/20/2027 (d)(e)
3.68
37,000,000
37,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.06%, 3.68% 7/26/2027 (d)(e)
3.68
65,000,000
65,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.06%, 3.68% 8/18/2027 (d)(e)
3.68
46,000,000
46,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.06%, 3.68% 8/27/2027 (d)(e)
3.68
17,000,000
17,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.06%, 3.68% 8/6/2027 (d)(e)
3.68
116,000,000
116,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.06%, 3.68% 9/22/2026 (d)(e)
3.68
35,000,000
35,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.06%, 3.68% 9/23/2027 (d)(e)
3.68
94,000,000
94,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.06%, 3.68% 9/27/2027 (d)(e)
3.68
22,000,000
22,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.06%, 3.68% 9/4/2026 (d)(e)
3.68
45,000,000
45,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.06%, 3.68% 9/4/2026 (d)(e)
3.68
15,000,000
15,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.065%, 3.685% 10/25/2027 (d)(e)
3.68
40,000,000
40,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.065%, 3.685% 11/13/2026 (d)(e)
3.68
27,000,000
27,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.065%, 3.685% 11/27/2026 (d)(e)
3.68
71,000,000
71,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.065%, 3.685% 3/5/2027 (d)(e)
3.68
40,000,000
40,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.065%, 3.685% 6/22/2027 (d)(e)
3.68
122,000,000
122,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.065%, 3.685% 7/12/2027 (d)(e)
3.68
59,000,000
59,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.065%, 3.685% 7/9/2027 (d)(e)
3.68
59,000,000
59,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.065%, 3.685% 9/10/2026 (d)(e)
3.68
30,000,000
30,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.065%, 3.685% 9/18/2026 (d)(e)
3.68
22,000,000
22,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.065%, 3.685% 9/29/2027 (d)(e)
3.68
37,000,000
37,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.065%, 3.685% 9/3/2027 (d)(e)
3.68
15,000,000
15,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.065%, 3.685% 9/9/2027 (d)(e)
3.68
49,000,000
49,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.07%, 3.69% 1/19/2028 (d)(e)
3.69
62,000,000
62,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.07%, 3.69% 10/1/2027 (d)(e)
3.69
49,000,000
48,993,589
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.07%, 3.69% 10/21/2026 (d)(e)
3.69
34,000,000
34,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.07%, 3.69% 10/28/2027 (d)(e)
3.69
22,000,000
22,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.07%, 3.69% 11/5/2027 (d)(e)
3.69
67,000,000
66,999,989
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.07%, 3.69% 12/13/2027 (d)(e)
3.69
22,000,000
22,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.07%, 3.69% 12/28/2027 (d)(e)
3.69
31,000,000
31,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.07%, 3.69% 8/12/2026 (d)(e)
3.69
18,000,000
18,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.07%, 3.69% 8/9/2027 (d)(e)
3.69
39,000,000
39,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.075%, 3.695% 1/24/2028 (d)(e)
3.70
25,000,000
25,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.075%, 3.695% 12/29/2027 (d)(e)
3.70
49,000,000
49,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.075%, 3.695% 4/1/2027 (d)(e)
3.70
45,000,000
44,998,126
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.075%, 3.695% 4/2/2027 (d)(e)
3.69 to 3.70
70,000,000
70,006,392
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.08%, 3.7% 1/12/2028 (d)(e)
3.70
96,000,000
96,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.08%, 3.7% 1/20/2028 (d)(e)
3.70
13,000,000
13,000,874
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.08%, 3.7% 1/5/2028 (d)(e)
3.70
114,000,000
114,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.08%, 3.7% 10/8/2027 (d)(e)
3.70
110,300,000
110,323,425
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.08%, 3.7% 11/16/2026 (d)(e)
3.70
16,000,000
16,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.08%, 3.7% 11/23/2027 (d)(e)
3.70
50,000,000
50,004,157
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.08%, 3.7% 12/22/2026 (d)(e)
3.70
87,000,000
87,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.08%, 3.7% 12/22/2027 (d)(e)
3.70
65,000,000
65,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.08%, 3.7% 12/29/2027 (d)(e)
3.70
34,000,000
34,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.08%, 3.7% 3/11/2027 (d)(e)
3.70
43,000,000
43,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.08%, 3.7% 3/11/2027 (d)(e)
3.70
25,000,000
24,995,843
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.08%, 3.7% 4/9/2027 (d)(e)
3.70
167,000,000
166,958,441
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 1/12/2028 (d)(e)
3.71
98,000,000
98,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 1/18/2028 (d)(e)
3.71
24,000,000
24,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 1/21/2028 (d)(e)
3.71
141,000,000
141,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 1/3/2028 (d)(e)
3.71
37,000,000
37,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 12/29/2026 (d)(e)
3.71
35,000,000
34,998,854
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 2/23/2028 (d)(e)
3.71
51,000,000
51,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 2/25/2028 (d)(e)
3.71
25,000,000
25,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 3/13/2028 (d)(e)
3.71
77,000,000
77,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 3/16/2028 (d)(e)
3.71
62,000,000
62,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 3/2/2028 (d)(e)
3.71
45,000,000
45,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 3/24/2028 (d)(e)
3.71
21,000,000
21,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 3/25/2027 (d)(e)
3.71
19,000,000
19,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 3/26/2027 (d)(e)
3.71
17,000,000
17,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 3/27/2028 (d)(e)
3.70 to 3.71
80,000,000
80,001,810
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 4/10/2028 (d)(e)
3.71
50,000,000
50,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 4/7/2028 (d)(e)
3.71
171,000,000
171,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.085%, 3.705% 4/8/2027 (d)(e)
3.71
224,500,000
224,500,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 1/12/2027 (d)(e)
3.71
18,000,000
18,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 1/19/2027 (d)(e)
3.71
27,000,000
27,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 12/17/2027 (d)(e)
3.71
122,000,000
122,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 12/24/2026 (d)(e)
3.71
128,000,000
128,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 2/11/2028 (d)(e)
3.71
18,000,000
18,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 2/17/2028 (d)(e)
3.71
51,000,000
51,002,504
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 2/19/2027 (d)(e)
3.71
15,000,000
15,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 2/2/2028 (d)(e)
3.71
69,000,000
69,002,032
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 2/24/2027 (d)(e)
3.71
18,000,000
18,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 2/9/2028 (d)(e)
3.71
58,000,000
58,002,385
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 3/17/2028 (d)(e)
3.71
189,000,000
189,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 3/20/2028 (d)(e)
3.71
135,000,000
135,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 3/27/2028 (d)(e)
3.71
52,000,000
52,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 3/9/2028 (d)(e)
3.71
114,000,000
114,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 4/14/2028 (d)(e)
3.71
166,000,000
166,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 4/6/2028 (d)(e)
3.71
162,000,000
162,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 5/12/2027 (d)(e)
3.71
20,000,000
20,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 5/15/2028 (d)(e)
3.71
40,000,000
40,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.09%, 3.71% 7/28/2026 (d)(e)
3.71
24,000,000
24,000,856
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.095%, 3.715% 12/10/2027 (d)(e)
3.71
221,000,000
221,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.095%, 3.715% 2/12/2027 (d)(e)
3.71
67,000,000
67,025,425
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.095%, 3.715% 2/2/2028 (d)(e)
3.71
113,000,000
113,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.095%, 3.715% 2/25/2027 (d)(e)
3.71
30,000,000
30,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.095%, 3.715% 2/25/2028 (d)(e)
3.71
88,000,000
88,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.095%, 3.715% 5/1/2028 (d)(e)
3.71
199,000,000
199,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.095%, 3.715% 5/24/2027 (d)(e)
3.71
61,000,000
61,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.095%, 3.715% 5/26/2028 (d)(e)
3.71
179,000,000
179,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.095%, 3.715% 5/26/2028 (d)(e)
3.71
136,000,000
136,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.095%, 3.715% 6/17/2027 (d)(e)
3.72
42,652,000
42,642,941
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.095%, 3.715% 6/3/2026 (d)(e)
3.71
40,000,000
40,000,070
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 1/12/2027 (d)(e)
3.72
83,000,000
83,001,645
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 1/28/2028 (d)(e)
3.72
91,000,000
91,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 1/8/2027 (d)(e)
3.72
86,000,000
86,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 2/9/2027 (d)(e)
3.72
20,000,000
20,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 3/25/2027 (d)(e)
3.72
49,000,000
49,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 4/6/2027 (d)(e)
3.72
18,000,000
18,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 5/27/2027 (d)(e)
3.72
87,000,000
86,993,250
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 6/18/2026 (d)(e)
3.72
132,750,000
132,751,493
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 6/23/2027 (d)(e)
3.72
45,000,000
45,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 6/24/2026 (d)(e)
3.72
124,000,000
124,001,915
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 6/29/2027 (d)(e)
3.72
41,000,000
41,001,242
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 7/1/2026 (d)(e)
3.72
38,000,000
38,001,127
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 7/9/2027 (d)(e)
3.72
23,000,000
22,995,004
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.1%, 3.72% 8/13/2027 (d)(e)
3.72
24,000,000
24,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.105%, 3.725% 12/2/2027 (d)(e)
3.72
105,000,000
105,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.105%, 3.725% 4/16/2027 (d)(e)
3.72
44,000,000
44,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.105%, 3.725% 4/21/2027 (d)(e)
3.73
17,000,000
16,999,700
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.105%, 3.725% 5/14/2027 (d)(e)
3.73
54,026,000
54,022,654
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.11%, 3.73% 11/19/2027 (d)(e)
3.73
51,000,000
51,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.11%, 3.73% 5/13/2027 (d)(e)
3.73
71,000,000
70,999,088
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.11%, 3.73% 6/24/2027 (d)(e)
3.73
86,000,000
86,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.11%, 3.73% 7/21/2027 (d)(e)
3.73
95,000,000
94,987,797
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.11%, 3.73% 8/5/2027 (d)(e)
3.73
20,000,000
20,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.115%, 3.735% 11/12/2027 (d)(e)
3.74
72,000,000
72,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.115%, 3.735% 11/26/2027 (d)(e)
3.74
81,000,000
81,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.115%, 3.735% 11/26/2027 (d)(e)
3.74
66,000,000
66,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.115%, 3.735% 2/10/2027 (d)(e)
3.73
236,000,000
236,067,086
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.115%, 3.735% 5/20/2027 (d)(e)
3.74
20,000,000
20,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.115%, 3.735% 5/27/2027 (d)(e)
3.74
52,000,000
52,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.115%, 3.735% 5/6/2027 (d)(e)
3.73 to 3.74
139,000,000
139,002,739
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.115%, 3.735% 6/7/2027 (d)(e)
3.74
97,000,000
97,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.115%, 3.735% 7/30/2027 (d)(e)
3.73
8,000,000
8,004,415
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.12%, 3.74% 2/18/2027 (d)(e)
3.74
112,000,000
112,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.12%, 3.74% 5/28/2027 (d)(e)
3.74
19,000,000
19,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.12%, 3.74% 6/9/2027 (d)(e)
3.74
8,000,000
7,999,999
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.12%, 3.74% 7/10/2026 (d)(e)
3.74
69,000,000
69,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.12%, 3.74% 7/23/2026 (d)(e)
3.74
77,000,000
77,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.12%, 3.74% 9/14/2026 (d)(e)
3.74
12,404,000
12,403,222
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.125%, 3.745% 10/6/2026 (d)(e)
3.75
30,000,000
30,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.125%, 3.745% 11/3/2027 (d)(e)
3.75
122,000,000
122,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.125%, 3.745% 3/23/2027 (d)(e)
3.75
43,000,000
43,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.125%, 3.745% 4/29/2027 (d)(e)
3.74 to 3.75
274,985,000
275,014,544
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.125%, 3.745% 6/10/2026 (d)(e)
3.74
50,000,000
50,001,014
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.125%, 3.745% 7/21/2026 (d)(e)
3.75
26,000,000
26,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.125%, 3.745% 8/18/2027 (d)(e)
3.75
110,000,000
110,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.125%, 3.745% 8/27/2026 (d)(e)
3.75
71,000,000
71,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.125%, 3.745% 9/8/2026 (d)(e)
3.75
24,000,000
24,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 1/27/2027 (d)(e)
3.75
100,000,000
100,009,355
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 10/15/2027 (d)(e)
3.75
88,000,000
88,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 10/22/2027 (d)(e)
3.75
79,000,000
79,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 11/10/2027 (d)(e)
3.75
84,000,000
84,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 2/3/2027 (d)(e)
3.75
53,000,000
53,004,187
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 4/23/2027 (d)(e)
3.75
94,000,000
94,018,797
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 5/5/2027 (d)(e)
3.75
158,000,000
158,000,732
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 6/24/2026 (d)(e)
3.75
98,000,000
98,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 6/26/2026 (d)(e)
3.75
50,000,000
50,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 7/2/2026 (d)(e)
3.75
143,000,000
143,000,447
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 7/29/2027 (d)(e)
3.75
137,000,000
137,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 8/12/2026 (d)(e)
3.75
95,000,000
95,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 8/28/2026 (d)(e)
3.75
47,000,000
47,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.13%, 3.75% 9/10/2027 (d)(e)
3.75
120,000,000
120,095,648
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.135%, 3.755% 1/8/2027 (d)(e)
3.75 to 3.76
119,000,000
119,006,643
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.135%, 3.755% 10/1/2027 (d)(e)
3.76
66,000,000
66,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.135%, 3.755% 10/15/2026 (d)(e)
3.75
123,400,000
123,430,834
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.135%, 3.755% 11/18/2026 (d)(e)
3.75 to 3.76
211,000,000
211,050,522
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.135%, 3.755% 11/23/2026 (d)(e)
3.76
111,000,000
111,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.135%, 3.755% 12/18/2026 (d)(e)
3.75
66,000,000
66,006,359
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.135%, 3.755% 2/10/2027 (d)(e)
3.76
237,500,000
237,500,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.135%, 3.755% 8/19/2026 (d)(e)
3.76
171,000,000
171,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.135%, 3.755% 8/4/2027 (d)(e)
3.76
162,000,000
162,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.135%, 3.755% 9/15/2027 (d)(e)
3.76
48,000,000
48,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.14%, 3.76% 10/23/2026 (d)(e)
3.76
137,000,000
137,008,860
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.14%, 3.76% 10/29/2027 (d)(e)
3.76
34,000,000
34,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.14%, 3.76% 11/25/2026 (d)(e)
3.76
88,610,000
88,621,268
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.14%, 3.76% 11/4/2026 (d)(e)
3.76
47,000,000
47,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.14%, 3.76% 12/2/2026 (d)(e)
3.76
61,000,000
61,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.14%, 3.76% 12/30/2026 (d)(e)
3.76
70,000,000
70,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.14%, 3.76% 8/12/2027 (d)(e)
3.76
145,000,000
145,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.14%, 3.76% 8/26/2026 (d)(e)
3.76
94,000,000
94,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.14%, 3.76% 9/3/2026 (d)(e)
3.76
103,000,000
103,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.14%, 3.76% 9/4/2026 (d)(e)
3.76
43,000,000
43,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.14%, 3.76% 9/9/2026 (d)(e)
3.76
26,000,000
26,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.145%, 3.765% 1/21/2027 (d)(e)
3.76
82,000,000
82,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.145%, 3.765% 1/8/2027 (d)(e)
3.76
161,000,000
161,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.145%, 3.765% 12/16/2026 (d)(e)
3.76
72,000,000
72,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.15%, 3.77% 10/1/2027 (d)(e)
3.77
87,000,000
87,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.15%, 3.77% 10/14/2027 (d)(e)
3.77
94,000,000
94,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.15%, 3.77% 10/22/2027 (d)(e)
3.77
57,000,000
57,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.15%, 3.77% 12/23/2026 (d)(e)
3.77
84,000,000
84,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.15%, 3.77% 12/4/2026 (d)(e)
3.77
49,000,000
49,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.15%, 3.77% 9/10/2027 (d)(e)
3.77
89,000,000
89,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.155%, 3.775% 9/24/2027 (d)(e)
3.77
193,000,000
193,000,000
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.16%, 3.78% 1/3/2028 (d)(e)
3.78
44,000,000
44,046,916
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.185%, 3.805% 5/10/2027 (d)(e)
3.80
12,000,000
12,009,115
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.19%, 3.81% 3/27/2028 (d)(e)
3.80
58,000,000
58,107,442
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.23%, 3.85% 6/28/2027 (d)(e)
3.84
63,000,000
63,070,970
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.24%, 3.86% 1/28/2028 (d)(e)
3.85
19,000,000
19,050,592
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.24%, 3.86% 7/19/2027 (d)(e)
3.85
36,000,000
36,044,344
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.25%, 3.87% 11/12/2027 (d)(e)
3.86
25,000,000
25,063,880
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.25%, 3.87% 12/13/2027 (d)(e)
3.86
73,000,000
73,196,696
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.25%, 3.87% 12/3/2027 (d)(e)
3.86
61,000,000
61,161,064
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.255%, 3.875% 9/13/2027 (d)(e)
3.87
60,000,000
60,088,949
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.27%, 3.89% 11/24/2026 (d)(e)
3.88
61,000,000
61,059,575
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.28%, 3.9% 11/20/2026 (d)(e)
3.89
11,000,000
11,010,743
Federal Farm Credit Banks Funding Corp U.S. SOFR Index + 0.42%, 4.04% 10/25/2027 (d)(e)
4.02
24,000,000
24,118,305
Federal Home Loan Bank 3.55% 6/24/2026
3.62
123,000,000
122,994,287
Federal Home Loan Bank 3.61% 6/22/2026
3.64
123,000,000
122,997,878
Federal Home Loan Bank 3.61% 6/24/2026
3.62
432,000,000
431,996,604
Federal Home Loan Bank 3.615% 2/8/2027
3.62
608,000,000
608,000,000
Federal Home Loan Bank 3.62% 2/8/2027
3.62
1,094,000,000
1,094,000,000
Federal Home Loan Bank 3.62% 2/8/2027
3.62
687,500,000
687,500,000
Federal Home Loan Bank 3.62% 2/8/2027
3.62
243,000,000
243,000,000
Federal Home Loan Bank 3.63% 2/8/2027
3.63
346,000,000
346,000,000
Federal Home Loan Bank 3.63% 2/8/2027
3.63
346,000,000
346,000,000
Federal Home Loan Bank 3.685% 6/1/2027 (d)(e)
3.69
246,000,000
246,000,000
Federal Home Loan Bank 3.725% 12/2/2027 (d)(e)
3.71
35,000,000
35,000,000
Federal Home Loan Bank 4.75% 6/12/2026
3.64
24,080,000
24,087,911
Federal Home Loan Bank Discount Notes 0% 1/15/2027
3.74
245,000,000
239,336,417
Federal Home Loan Bank Discount Notes 0% 1/19/2027
3.58
173,000,000
169,103,463
Federal Home Loan Bank Discount Notes 0% 1/21/2027
3.57 to 3.61
1,041,000,000
1,017,446,892
Federal Home Loan Bank Discount Notes 0% 1/28/2027
3.71
185,000,000
180,541,500
Federal Home Loan Bank Discount Notes 0% 1/29/2027
3.71
309,000,000
301,522,200
Federal Home Loan Bank Discount Notes 0% 10/14/2026
3.67 to 3.69
265,000,000
261,399,531
Federal Home Loan Bank Discount Notes 0% 10/16/2026
3.67 to 3.69
410,989,000
405,339,918
Federal Home Loan Bank Discount Notes 0% 10/21/2026
3.68
599,000,000
590,470,080
Federal Home Loan Bank Discount Notes 0% 10/23/2026
3.67 to 3.68
527,000,000
519,390,320
Federal Home Loan Bank Discount Notes 0% 10/28/2026
3.68
74,000,000
72,893,112
Federal Home Loan Bank Discount Notes 0% 10/30/2026
3.69
46,000,000
45,300,576
Federal Home Loan Bank Discount Notes 0% 10/7/2026
3.70
168,000,000
165,828,693
Federal Home Loan Bank Discount Notes 0% 10/9/2026
3.68
59,000,000
58,230,869
Federal Home Loan Bank Discount Notes 0% 11/12/2026
3.70
219,000,000
215,373,482
Federal Home Loan Bank Discount Notes 0% 11/13/2026
3.70
80,000,000
78,669,000
Federal Home Loan Bank Discount Notes 0% 11/18/2026
3.70
220,000,000
216,228,385
Federal Home Loan Bank Discount Notes 0% 11/20/2026
3.71
570,000,000
560,073,450
Federal Home Loan Bank Discount Notes 0% 11/25/2026
3.69 to 3.74
246,000,000
241,603,418
Federal Home Loan Bank Discount Notes 0% 11/27/2026
3.69
61,000,000
59,902,034
Federal Home Loan Bank Discount Notes 0% 11/4/2026
3.69
64,000,000
62,994,667
Federal Home Loan Bank Discount Notes 0% 11/6/2026
3.69
95,000,000
93,490,661
Federal Home Loan Bank Discount Notes 0% 12/11/2026
3.71
74,000,000
72,559,898
Federal Home Loan Bank Discount Notes 0% 12/21/2026
3.71
616,000,000
603,390,993
Federal Home Loan Bank Discount Notes 0% 12/7/2026
3.70
246,000,000
241,337,685
Federal Home Loan Bank Discount Notes 0% 6/10/2026
3.58 to 3.70
476,000,000
475,569,632
Federal Home Loan Bank Discount Notes 0% 6/12/2026
3.58 to 3.66
378,000,000
377,581,193
Federal Home Loan Bank Discount Notes 0% 6/17/2026
3.58 to 3.66
254,000,000
253,596,364
Federal Home Loan Bank Discount Notes 0% 6/22/2026
3.58 to 3.66
466,000,000
465,035,477
Federal Home Loan Bank Discount Notes 0% 6/24/2026
3.66 to 3.68
661,000,000
659,461,961
Federal Home Loan Bank Discount Notes 0% 6/26/2026
3.59 to 3.68
628,000,000
626,416,684
Federal Home Loan Bank Discount Notes 0% 6/3/2026
3.65 to 3.69
962,000,000
961,806,156
Federal Home Loan Bank Discount Notes 0% 6/5/2026
3.62
96,000,000
95,961,600
Federal Home Loan Bank Discount Notes 0% 7/1/2026
3.67 to 3.69
172,000,000
171,476,844
Federal Home Loan Bank Discount Notes 0% 7/10/2026
3.56 to 3.65
414,000,000
412,386,445
Federal Home Loan Bank Discount Notes 0% 7/13/2026
3.60
229,000,000
228,054,230
Federal Home Loan Bank Discount Notes 0% 7/15/2026
3.58 to 3.67
934,000,000
929,923,779
Federal Home Loan Bank Discount Notes 0% 7/17/2026
3.60 to 3.67
463,000,000
460,851,921
Federal Home Loan Bank Discount Notes 0% 7/22/2026
3.60 to 3.70
656,000,000
652,681,600
Federal Home Loan Bank Discount Notes 0% 7/24/2026
3.62 to 3.69
716,000,000
712,187,209
Federal Home Loan Bank Discount Notes 0% 7/29/2026
3.62 to 3.69
278,000,000
276,382,137
Federal Home Loan Bank Discount Notes 0% 7/31/2026
3.62 to 3.69
494,000,000
491,009,650
Federal Home Loan Bank Discount Notes 0% 7/6/2026
3.64 to 3.69
167,000,000
166,409,550
Federal Home Loan Bank Discount Notes 0% 7/8/2026
3.56 to 3.69
412,000,000
410,494,845
Federal Home Loan Bank Discount Notes 0% 8/12/2026
3.63 to 3.68
218,000,000
216,422,588
Federal Home Loan Bank Discount Notes 0% 8/14/2026
3.60 to 3.67
219,000,000
217,390,695
Federal Home Loan Bank Discount Notes 0% 8/19/2026
3.58 to 3.67
441,000,000
437,536,881
Federal Home Loan Bank Discount Notes 0% 8/20/2026
3.59
60,000,000
59,528,000
Federal Home Loan Bank Discount Notes 0% 8/21/2026
3.60 to 3.68
351,000,000
348,149,711
Federal Home Loan Bank Discount Notes 0% 8/26/2026
3.61 to 3.68
652,000,000
646,403,452
Federal Home Loan Bank Discount Notes 0% 8/28/2026
3.61 to 3.67
968,000,000
959,421,222
Federal Home Loan Bank Discount Notes 0% 8/5/2026
3.61 to 3.69
319,000,000
316,933,740
Federal Home Loan Bank Discount Notes 0% 8/7/2026
3.66
110,000,000
109,258,906
Federal Home Loan Bank Discount Notes 0% 9/1/2026
3.71
243,000,000
240,733,350
Federal Home Loan Bank Discount Notes 0% 9/11/2026
3.67
14,000,000
13,856,010
Federal Home Loan Bank Discount Notes 0% 9/14/2026
3.57
244,000,000
241,512,725
Federal Home Loan Bank Discount Notes 0% 9/16/2026
3.66
96,000,000
94,967,093
Federal Home Loan Bank Discount Notes 0% 9/18/2026
3.67
329,000,000
325,384,016
Federal Home Loan Bank Discount Notes 0% 9/2/2026
3.61 to 3.68
58,000,000
57,464,116
Federal Home Loan Bank Discount Notes 0% 9/21/2026
3.56
244,000,000
241,350,702
Federal Home Loan Bank Discount Notes 0% 9/23/2026
3.69 to 3.71
873,000,000
862,931,694
Federal Home Loan Bank Discount Notes 0% 9/25/2026
3.69 to 3.72
454,000,000
448,662,405
Federal Home Loan Bank Discount Notes 0% 9/4/2026
3.61
16,000,000
15,850,111
Federal Home Loan Bank Discount Notes 0% 9/9/2026
3.62 to 3.69
46,000,000
45,540,494
Federal Home Loan Bank U.S. SOFR Index + 0%, 3.62% 6/8/2026 (d)(e)
3.62
123,000,000
122,999,093
Federal Home Loan Bank U.S. SOFR Index + 0%, 3.63% 6/10/2026 (d)(e)
3.62
574,000,000
573,996,559
Federal Home Loan Bank U.S. SOFR Index + 0.005%, 3.625% 7/10/2026 (d)(e)
3.63
123,000,000
122,995,849
Federal Home Loan Bank U.S. SOFR Index + 0.01%, 3.63% 6/10/2026 (d)(e)
3.63
122,000,000
122,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.01%, 3.63% 6/15/2026 (d)(e)
3.63
457,000,000
457,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.01%, 3.63% 6/15/2026 (d)(e)
3.63
246,000,000
246,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.01%, 3.63% 6/15/2026 (d)(e)
3.63
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.01%, 3.63% 6/15/2026 (d)(e)
3.63
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.01%, 3.63% 6/5/2026 (d)(e)
3.63
93,000,000
93,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.01%, 3.63% 6/8/2026 (d)(e)
3.63
122,000,000
122,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.01%, 3.63% 6/9/2026 (d)(e)
3.63
297,000,000
297,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.01%, 3.63% 8/10/2026 (d)(e)
3.63
12,000,000
12,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.01%, 3.63% 8/17/2026 (d)(e)
3.63
37,000,000
37,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.01%, 3.63% 9/25/2026 (d)(e)
3.63
122,000,000
122,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 10/22/2026 (d)(e)
3.63
269,000,000
269,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 10/23/2026 (d)(e)
3.63
245,000,000
245,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 10/23/2026 (d)(e)
3.63
244,000,000
244,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 10/5/2026 (d)(e)
3.63
244,000,000
244,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 10/5/2026 (d)(e)
3.63
184,000,000
184,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 10/6/2026 (d)(e)
3.63
244,000,000
244,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 7/15/2026 (d)(e)
3.63
138,000,000
138,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 8/17/2026 (d)(e)
3.63
219,000,000
219,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 8/18/2026 (d)(e)
3.63
25,000,000
25,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 8/24/2026 (d)(e)
3.63
244,000,000
244,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 9/11/2026 (d)(e)
3.63
98,000,000
98,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 9/18/2026 (d)(e)
3.63
146,000,000
146,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 9/21/2026 (d)(e)
3.63
60,000,000
60,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 9/28/2026 (d)(e)
3.63
195,000,000
195,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.015%, 3.635% 9/30/2026 (d)(e)
3.63
245,000,000
245,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.02%, 3.64% 10/29/2026 (d)(e)
3.64
111,000,000
111,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.02%, 3.64% 10/7/2026 (d)(e)
3.64
243,000,000
243,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.02%, 3.64% 10/9/2026 (d)(e)
3.64
37,000,000
37,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.02%, 3.64% 11/2/2026 (d)(e)
3.64
236,000,000
236,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.02%, 3.64% 11/4/2026 (d)(e)
3.64
242,000,000
242,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.02%, 3.64% 11/5/2026 (d)(e)
3.64
245,000,000
245,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.02%, 3.64% 7/10/2026 (d)(e)
3.64
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.02%, 3.64% 7/30/2026 (d)(e)
3.64
124,000,000
124,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.02%, 3.64% 9/14/2026 (d)(e)
3.64
60,000,000
60,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.02%, 3.64% 9/15/2026 (d)(e)
3.64
244,000,000
244,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.02%, 3.64% 9/22/2026 (d)(e)
3.64
171,000,000
171,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.02%, 3.64% 9/29/2026 (d)(e)
3.64
122,000,000
122,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 10/19/2026 (d)(e)
3.65
293,000,000
293,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 10/20/2026 (d)(e)
3.65
163,000,000
163,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 11/12/2026 (d)(e)
3.65
244,000,000
244,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 11/16/2026 (d)(e)
3.65
244,000,000
244,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 11/18/2026 (d)(e)
3.65
124,000,000
124,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 11/3/2026 (d)(e)
3.65
103,000,000
103,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 12/2/2026 (d)(e)
3.65
241,000,000
241,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 12/3/2026 (d)(e)
3.65
241,000,000
241,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 12/4/2026 (d)(e)
3.65
244,000,000
244,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 12/7/2026 (d)(e)
3.65
242,000,000
242,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 12/8/2026 (d)(e)
3.65
220,000,000
220,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 6/2/2026 (d)(e)
3.65
494,000,000
494,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 6/22/2026 (d)(e)
3.65
246,000,000
246,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 6/24/2026 (d)(e)
3.65
150,000,000
150,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 9/24/2026 (d)(e)
3.65
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 9/24/2026 (d)(e)
3.65
23,000,000
23,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.025%, 3.645% 9/4/2026 (d)(e)
3.65
23,000,000
23,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.03%, 3.65% 11/19/2026 (d)(e)
3.65
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.03%, 3.65% 12/1/2026 (d)(e)
3.65
246,000,000
246,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.03%, 3.65% 12/1/2026 (d)(e)
3.65
111,000,000
111,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.03%, 3.65% 12/10/2026 (d)(e)
3.65
413,000,000
413,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.03%, 3.65% 12/22/2026 (d)(e)
3.65
123,000,000
123,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.03%, 3.65% 12/22/2026 (d)(e)
3.65
99,000,000
99,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.03%, 3.65% 12/7/2026 (d)(e)
3.65
470,000,000
470,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.03%, 3.65% 12/8/2026 (d)(e)
3.65
161,000,000
161,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.03%, 3.65% 6/29/2026 (d)(e)
3.65
371,000,000
371,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.03%, 3.65% 6/29/2026 (d)(e)
3.65
123,000,000
123,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.03%, 3.65% 7/21/2026 (d)(e)
3.65
492,000,000
492,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.03%, 3.65% 7/23/2026 (d)(e)
3.65
246,000,000
246,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 1/22/2027 (d)(e)
3.66
185,000,000
185,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 1/25/2027 (d)(e)
3.66
247,000,000
247,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 1/5/2027 (d)(e)
3.66
223,000,000
223,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 1/5/2027 (d)(e)
3.66
124,000,000
124,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 1/7/2027 (d)(e)
3.66
149,000,000
149,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 11/30/2026 (d)(e)
3.66
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 12/15/2026 (d)(e)
3.66
112,000,000
112,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 12/17/2026 (d)(e)
3.66
224,000,000
224,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 12/21/2026 (d)(e)
3.66
247,000,000
247,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 12/21/2026 (d)(e)
3.66
124,000,000
124,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 12/23/2026 (d)(e)
3.66
62,000,000
62,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 12/24/2026 (d)(e)
3.66
249,000,000
249,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 12/24/2026 (d)(e)
3.66
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 12/28/2026 (d)(e)
3.66
124,000,000
124,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 12/28/2026 (d)(e)
3.66
62,000,000
62,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 12/29/2026 (d)(e)
3.66
244,000,000
244,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 12/29/2026 (d)(e)
3.66
124,000,000
124,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 12/9/2026 (d)(e)
3.66
172,000,000
172,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.035%, 3.655% 2/9/2027 (d)(e)
3.66
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.04%, 3.66% 10/14/2026 (d)(e)
3.66
25,000,000
25,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.04%, 3.66% 3/5/2027 (d)(e)
3.66
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.045%, 3.665% 10/2/2026 (d)(e)
3.67
25,000,000
25,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.045%, 3.665% 10/6/2026 (d)(e)
3.67
29,000,000
29,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.045%, 3.665% 4/6/2027 (d)(e)
3.67
42,000,000
42,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.045%, 3.665% 5/27/2027 (d)(e)
3.67
59,000,000
59,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.05%, 3.67% 5/20/2027 (d)(e)
3.67
24,000,000
24,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.05%, 3.67% 7/12/2027 (d)(e)
3.67
183,000,000
183,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.05%, 3.67% 7/8/2027 (d)(e)
3.67
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.055%, 3.675% 5/26/2027 (d)(e)
3.67
153,000,000
153,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.055%, 3.675% 5/27/2027 (d)(e)
3.67
62,000,000
62,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.055%, 3.675% 5/28/2027 (d)(e)
3.67
93,000,000
93,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.055%, 3.675% 7/9/2027 (d)(e)
3.67
122,000,000
122,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.06%, 3.68% 2/12/2027 (d)(e)
3.68
121,000,000
121,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.06%, 3.68% 2/5/2027 (d)(e)
3.68
12,000,000
12,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.06%, 3.68% 7/30/2027 (d)(e)
3.68
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.06%, 3.68% 8/20/2027 (d)(e)
3.68
122,000,000
122,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.06%, 3.68% 9/10/2027 (d)(e)
3.68
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.065%, 3.685% 8/10/2026 (d)(e)
3.68
174,000,000
174,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.065%, 3.685% 8/12/2026 (d)(e)
3.68
328,000,000
328,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.065%, 3.685% 9/11/2026 (d)(e)
3.68
16,000,000
16,001,774
Federal Home Loan Bank U.S. SOFR Index + 0.07%, 3.69% 10/22/2027 (d)(e)
3.69
62,000,000
62,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.07%, 3.69% 11/12/2027 (d)(e)
3.69
50,000,000
50,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.07%, 3.69% 11/8/2027 (d)(e)
3.69
62,000,000
62,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.07%, 3.69% 12/23/2026 (d)(e)
3.69
52,000,000
52,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.07%, 3.69% 12/24/2026 (d)(e)
3.69
91,000,000
91,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.07%, 3.69% 12/30/2026 (d)(e)
3.69
104,000,000
104,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.075%, 3.695% 1/27/2028 (d)(e)
3.70
87,000,000
87,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.075%, 3.695% 11/18/2026 (d)(e)
3.70
187,000,000
187,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.075%, 3.695% 11/27/2026 (d)(e)
3.70
32,000,000
32,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.075%, 3.695% 4/5/2027 (d)(e)
3.70
1,015,000,000
1,015,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.075%, 3.695% 4/8/2027 (d)(e)
3.69
110,000,000
110,032,319
Federal Home Loan Bank U.S. SOFR Index + 0.08%, 3.7% 1/4/2028 (d)(e)
3.70
123,000,000
123,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.08%, 3.7% 11/13/2026 (d)(e)
3.70
51,000,000
51,001,988
Federal Home Loan Bank U.S. SOFR Index + 0.08%, 3.7% 12/11/2026 (d)(e)
3.70
184,000,000
184,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.08%, 3.7% 12/23/2027 (d)(e)
3.70
247,000,000
247,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.08%, 3.7% 12/29/2027 (d)(e)
3.70
48,000,000
48,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.08%, 3.7% 12/30/2027 (d)(e)
3.70
98,000,000
98,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.08%, 3.7% 12/8/2026 (d)(e)
3.70
80,000,000
80,003,891
Federal Home Loan Bank U.S. SOFR Index + 0.085%, 3.705% 1/26/2028 (d)(e)
3.71
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.085%, 3.705% 2/23/2028 (d)(e)
3.71
147,000,000
147,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.085%, 3.705% 3/10/2028 (d)(e)
3.70 to 3.71
227,000,000
226,999,641
Federal Home Loan Bank U.S. SOFR Index + 0.085%, 3.705% 3/2/2028 (d)(e)
3.71
122,000,000
122,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.085%, 3.705% 3/20/2028 (d)(e)
3.71
61,000,000
61,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.085%, 3.705% 3/23/2028 (d)(e)
3.71
48,000,000
48,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.085%, 3.705% 4/13/2028 (d)(e)
3.71
86,000,000
86,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.085%, 3.705% 4/17/2028 (d)(e)
3.71
62,000,000
62,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.085%, 3.705% 4/21/2028 (d)(e)
3.71
62,000,000
62,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.09%, 3.71% 12/6/2027 (d)(e)
3.71
161,000,000
161,044,733
Federal Home Loan Bank U.S. SOFR Index + 0.09%, 3.71% 12/7/2027 (d)(e)
3.71
247,000,000
247,068,832
Federal Home Loan Bank U.S. SOFR Index + 0.09%, 3.71% 12/8/2027 (d)(e)
3.71
247,000,000
247,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.09%, 3.71% 12/9/2027 (d)(e)
3.71
309,000,000
309,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.09%, 3.71% 2/12/2027 (d)(e)
3.71
61,000,000
61,021,073
Federal Home Loan Bank U.S. SOFR Index + 0.09%, 3.71% 3/1/2027 (d)(e)
3.71
58,000,000
58,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.095%, 3.715% 2/12/2027 (d)(e)
3.71
122,000,000
122,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.095%, 3.715% 2/25/2027 (d)(e)
3.71 to 3.72
155,805,000
155,850,733
Federal Home Loan Bank U.S. SOFR Index + 0.095%, 3.715% 4/14/2027 (d)(e)
3.72
47,485,000
47,480,172
Federal Home Loan Bank U.S. SOFR Index + 0.095%, 3.715% 6/11/2027 (d)(e)
3.72
52,000,000
51,996,952
Federal Home Loan Bank U.S. SOFR Index + 0.1%, 3.72% 6/10/2027 (d)(e)
3.72
126,000,000
126,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.1%, 3.72% 6/22/2026 (d)(e)
3.72
71,000,000
71,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.1%, 3.72% 6/24/2026 (d)(e)
3.72
89,000,000
89,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.1%, 3.72% 6/25/2026 (d)(e)
3.72
85,000,000
85,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.1%, 3.72% 6/26/2026 (d)(e)
3.72
142,000,000
142,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.1%, 3.72% 6/7/2027 (d)(e)
3.72
39,000,000
39,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.105%, 3.725% 2/18/2027 (d)(e)
3.72
17,000,000
17,000,323
Federal Home Loan Bank U.S. SOFR Index + 0.11%, 3.73% 2/12/2027 (d)(e)
3.73
12,000,000
12,005,789
Federal Home Loan Bank U.S. SOFR Index + 0.11%, 3.73% 7/15/2027 (d)(e)
3.73
12,000,000
11,998,469
Federal Home Loan Bank U.S. SOFR Index + 0.11%, 3.73% 7/19/2027 (d)(e)
3.73
65,990,000
65,984,176
Federal Home Loan Bank U.S. SOFR Index + 0.11%, 3.73% 7/21/2027 (d)(e)
3.73
25,000,000
24,996,789
Federal Home Loan Bank U.S. SOFR Index + 0.115%, 3.735% 7/30/2027 (d)(e)
3.74
389,000,000
389,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.12%, 3.74% 6/21/2027 (d)(e)
3.74
132,000,000
132,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.12%, 3.74% 6/22/2027 (d)(e)
3.74
119,000,000
119,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.125%, 3.745% 2/5/2027 (d)(e)
3.74
45,000,000
45,025,031
Federal Home Loan Bank U.S. SOFR Index + 0.13%, 3.75% 2/5/2027 (d)(e)
3.75
80,000,000
80,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.13%, 3.75% 4/16/2027 (d)(e)
3.75
59,000,000
59,011,516
Federal Home Loan Bank U.S. SOFR Index + 0.13%, 3.75% 4/23/2027 (d)(e)
3.75
48,000,000
48,008,573
Federal Home Loan Bank U.S. SOFR Index + 0.13%, 3.75% 6/24/2027 (d)(e)
3.75
156,500,000
156,500,000
Federal Home Loan Bank U.S. SOFR Index + 0.13%, 3.75% 6/30/2027 (d)(e)
3.75
104,000,000
104,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.13%, 3.75% 9/10/2027 (d)(e)
3.75
122,000,000
122,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.13%, 3.75% 9/7/2027 (d)(e)
3.75
60,000,000
60,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.13%, 3.75% 9/8/2027 (d)(e)
3.75
37,000,000
37,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.135%, 3.755% 1/6/2027 (d)(e)
3.75
24,000,000
24,009,698
Federal Home Loan Bank U.S. SOFR Index + 0.14%, 3.76% 10/29/2026 (d)(e)
3.76
41,000,000
41,003,098
Federal Home Loan Bank U.S. SOFR Index + 0.14%, 3.76% 7/22/2026 (d)(e)
3.76
3,750,000
3,749,999
Federal Home Loan Bank U.S. SOFR Index + 0.14%, 3.76% 8/21/2026 (d)(e)
3.76
274,000,000
274,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.14%, 3.76% 9/10/2026 (d)(e)
3.76
68,000,000
68,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.14%, 3.76% 9/4/2026 (d)(e)
3.76
204,000,000
204,000,000
Federal Home Loan Bank U.S. SOFR Index + 0.145%, 3.765% 9/25/2026 (d)(e)
3.76
539,000,000
539,000,000
Freddie Mac Discount Notes 0% 9/21/2026
3.72
244,000,000
241,229,243
Freddie Mac U.S. SOFR Index + 0.08%, 3.7% 11/5/2026 (d)(e)
3.70
657,000,000
657,000,000
Freddie Mac U.S. SOFR Index + 0.14%, 3.76% 10/16/2026 (d)(e)
3.76
644,500,000
644,500,000
Freddie Mac U.S. SOFR Index + 0.14%, 3.76% 10/29/2026 (d)(e)
3.76
452,000,000
452,000,000
Freddie Mac U.S. SOFR Index + 0.14%, 3.76% 9/23/2026 (d)(e)
3.76
817,000,000
817,000,000
Freddie Mac U.S. SOFR Index + 0.14%, 3.76% 9/4/2026 (d)(e)
3.76
284,000,000
284,000,000
TOTAL U.S. GOVERNMENT AGENCY - DEBT
(Cost $73,700,348,380)
73,700,348,380
U.S. Treasury Obligations - 30.9%
Yield (%) (c)
Principal
Amount (a)
Value ($)
US Treasury Bills 0% 1/21/2027
3.51 to 3.52
1,404,000,000
1,373,045,147
US Treasury Bills 0% 10/1/2026
3.67 to 3.71
2,606,000,000
2,574,136,324
US Treasury Bills 0% 10/15/2026
3.68
1,250,000,000
1,232,952,777
US Treasury Bills 0% 10/29/2026
3.69 to 3.71
1,261,000,000
1,242,053,729
US Treasury Bills 0% 10/8/2026
3.68 to 3.71
1,203,900,000
1,188,285,309
US Treasury Bills 0% 11/12/2026
3.68 to 3.69
2,443,000,000
2,402,737,553
US Treasury Bills 0% 11/19/2026
3.68
2,400,000,000
2,358,788,999
US Treasury Bills 0% 11/27/2026
3.70 to 3.72
2,450,000,000
2,405,556,313
US Treasury Bills 0% 11/5/2026
3.68
1,225,000,000
1,205,714,073
US Treasury Bills 0% 12/24/2026
3.50 to 3.53
479,000,000
469,710,429
US Treasury Bills 0% 2/18/2027
3.57
216,000,000
210,576,600
US Treasury Bills 0% 3/18/2027
3.68
108,000,000
104,911,500
US Treasury Bills 0% 4/15/2027
3.71
221,000,000
214,011,243
US Treasury Bills 0% 6/16/2026
3.67
41,000,000
40,937,441
US Treasury Bills 0% 6/18/2026
3.64
1,419,000,000
1,416,578,414
US Treasury Bills 0% 6/2/2026
3.63
1,200,000,000
1,199,880,333
US Treasury Bills 0% 6/23/2026
3.62
2,400,000,000
2,394,705,333
US Treasury Bills 0% 6/30/2026
3.64
875,000,000
872,529,586
US Treasury Bills 0% 7/14/2026
3.62 to 3.64
2,082,000,000
2,073,048,714
US Treasury Bills 0% 7/16/2026
3.55
425,400,000
423,544,192
US Treasury Bills 0% 7/2/2026
3.54 to 3.60
3,015,500,000
3,006,293,312
US Treasury Bills 0% 7/21/2026
3.62 to 3.65
3,574,000,000
3,556,113,692
US Treasury Bills 0% 7/28/2026
3.66 to 3.68
2,448,000,000
2,433,911,472
US Treasury Bills 0% 7/30/2026
3.60
500,000,000
497,105,313
US Treasury Bills 0% 7/7/2026
3.64
432,000,000
430,444,800
US Treasury Bills 0% 7/9/2026
3.54 to 4.11
3,206,000,000
3,192,977,303
US Treasury Bills 0% 8/13/2026
3.67 to 3.69
109,000,000
108,192,361
US Treasury Bills 0% 8/18/2026
3.67
1,538,900,000
1,526,813,223
US Treasury Bills 0% 8/20/2026
3.56
1,140,000,000
1,131,133,333
US Treasury Bills 0% 8/27/2026
3.59
688,000,000
682,130,787
US Treasury Bills 0% 8/6/2026
3.59 to 4.12
1,709,000,000
1,697,599,323
US Treasury Bills 0% 9/1/2026
3.69
361,000,000
357,637,903
US Treasury Bills 0% 9/17/2026
3.64 to 3.69
788,000,000
779,539,521
US Treasury Bills 0% 9/24/2026
3.70
2,108,700,000
2,084,247,864
US Treasury Bills 0% 9/29/2026
3.67 to 3.72
2,587,227,000
2,556,159,121
US Treasury Bills 0% 9/3/2026
3.60
2,238,800,000
2,218,135,254
US Treasury Bills 0% 9/8/2026
3.66
110,000,000
108,904,950
US Treasury Notes 0.625% 3/31/2027
3.61
108,000,000
105,395,236
US Treasury Notes 0.625% 7/31/2026
3.64 to 4.11
980,000,000
974,870,107
US Treasury Notes 0.75% 8/31/2026
3.72 to 4.16
654,000,000
648,891,884
US Treasury Notes 0.875% 6/30/2026
3.73
59,000,000
58,867,063
US Treasury Notes 0.875% 9/30/2026
3.75 to 3.85
161,000,000
159,470,143
US Treasury Notes 1.125% 10/31/2026
3.64
149,000,000
147,483,484
US Treasury Notes 1.125% 2/28/2027
3.61 to 3.74
109,000,000
106,979,459
US Treasury Notes 1.25% 11/30/2026
3.75
11,000,000
10,866,044
US Treasury Notes 1.25% 12/31/2026
3.64 to 3.75
271,000,000
267,188,052
US Treasury Notes 1.375% 8/31/2026
3.93
56,000,000
55,653,398
US Treasury Notes 1.5% 1/31/2027
3.56 to 3.77
378,500,000
373,355,919
US Treasury Notes 1.5% 8/15/2026
3.77 to 3.81
599,000,000
596,191,819
US Treasury Notes 1.625% 11/30/2026
3.75
43,000,000
42,554,828
US Treasury Notes 1.625% 9/30/2026
3.68 to 3.78
296,000,000
293,988,374
US Treasury Notes 1.875% 2/28/2027
3.57 to 3.78
1,377,000,000
1,358,691,185
US Treasury Notes 1.875% 6/30/2026
3.67
125,000,000
124,822,347
US Treasury Notes 1.875% 7/31/2026
3.69 to 4.01
392,000,000
390,819,517
US Treasury Notes 2.25% 2/15/2027
3.59
163,000,000
161,497,573
US Treasury Notes 2.5% 3/31/2027
3.58 to 3.61
1,123,000,000
1,113,073,339
US Treasury Notes 2.75% 4/30/2027
3.79
110,000,000
108,988,355
US Treasury Notes 3 month U.S. Treasury Bill INDX + 0.099%, 3.727% 1/31/2028 (d)(e)
3.73
2,052,618,000
2,052,528,474
US Treasury Notes 3 month U.S. Treasury Bill INDX + 0.103%, 3.7361% 4/30/2028 (d)(e)
3.73
1,347,126,000
1,347,243,823
US Treasury Notes 3 month U.S. Treasury Bill INDX + 0.159%, 3.787% 7/31/2027 (d)(e)
3.79
66,000,000
65,983,208
US Treasury Notes 3 month U.S. Treasury Bill INDX + 0.16%, 3.788% 4/30/2027 (d)(e)
3.79
3,087,000,000
3,087,048,487
US Treasury Notes 3 month U.S. Treasury Bill INDX + 0.19%, 3.818% 10/31/2027 (d)(e)
3.81 to 3.82
800,000,000
800,234,588
US Treasury Notes 3 month U.S. Treasury Bill INDX + 0.205%, 3.833% 10/31/2026 (d)(e)
3.83
350,000,000
350,084,699
US Treasury Notes 3.5% 9/30/2026
3.76
65,000,000
64,945,531
US Treasury Notes 3.75% 4/30/2027
3.79 to 3.86
220,000,000
219,854,675
US Treasury Notes 3.75% 8/31/2026
3.60 to 3.96
1,027,000,000
1,027,281,168
US Treasury Notes 3.875% 3/31/2027
3.58 to 3.75
1,017,000,000
1,019,052,605
US Treasury Notes 3.875% 5/31/2027
3.89
112,000,000
111,979,638
US Treasury Notes 4.125% 1/31/2027
3.57 to 3.78
846,000,000
848,722,069
US Treasury Notes 4.125% 10/31/2026
3.64 to 3.83
306,662,000
307,091,977
US Treasury Notes 4.125% 2/28/2027
3.58 to 3.84
1,705,000,000
1,710,032,842
US Treasury Notes 4.125% 6/15/2026
4.13 to 4.16
548,000,000
547,997,735
US Treasury Notes 4.25% 11/30/2026
3.58 to 3.75
285,000,000
285,895,009
US Treasury Notes 4.25% 12/31/2026
3.56 to 3.76
663,000,000
665,458,603
US Treasury Notes 4.375% 12/15/2026
3.57
54,000,000
54,229,800
US Treasury Notes 4.375% 7/31/2026
3.73 to 4.08
966,000,000
966,883,595
US Treasury Notes 4.375% 8/15/2026
3.77 to 3.79
321,932,000
322,318,187
US Treasury Notes 4.5% 7/15/2026
3.74
62,000,000
62,056,278
US Treasury Notes 4.625% 6/15/2027
3.86 to 3.90
801,000,000
807,026,592
US Treasury Notes 4.625% 6/30/2026
3.74 to 4.20
592,000,000
592,385,780
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $76,187,027,030)
76,187,027,030
TOTAL INVESTMENT IN SECURITIES - 102.4%
(Cost $252,391,226,410)
252,391,226,410
NET OTHER ASSETS (LIABILITIES) - (2.4)%
(5,808,273,805)
NET ASSETS - 100.0%
246,582,952,605
* Repurchase Agreements
Counterparty
Lending Rate (%)
Settlement Date
Maturity Date
Repurchase Agreement
Value ($)
Repurchase Agreement Proceeds ($)
Collateralized By
Collateral Coupon (%)
Collateral Maturity Date
Collateral Value Received ($)
ABN AMRO Bank NV
3.64
5/2026
6/2026
335,000,000
335,101,617
Agency Mortgage-Backed Securities
2.00 - 6.50
3/2033 - 5/2056
320,310,776
U.S. Treasuries (including strips)
0.63 - 3.75
1/2028 - 1/2033
21,506,401
341,817,177
ABN AMRO Bank NV
3.63
5/2026
6/2026
330,000,000
330,099,825
U.S. Treasuries (including strips)
0.63 - 4.38
11/2028 - 8/2034
336,701,883
BMO Capital Markets Corp
3.62
5/2026
6/2026
55,000,000
55,016,592
U.S. Treasuries (including strips)
0.00 - 2.25
6/2026 - 8/2049
56,235,535
BMO Chicago Branch
3.66
5/2026
6/2026
48,000,000
48,170,800
Agency Mortgage-Backed Securities
4.50 - 8.00
1/2054 - 5/2056
48,989,867
BMO Chicago Branch
3.61
5/2026
6/2026
194,000,000
194,564,163
Agency Mortgage-Backed Securities
4.50
4/2056
198,118,116
BMO Chicago Branch
3.67
5/2026
6/2026
58,000,000
58,195,122
Agency Mortgage-Backed Securities
4.50 - 7.50
9/2052 - 5/2056
59,274,590
BMO Chicago Branch
3.68
5/2026
6/2026
194,000,000
194,733,751
Agency Mortgage-Backed Securities
3.50 - 5.32
4/2056 - 4/2076
198,405,921
BMO Chicago Branch
3.67
5/2026
6/2026
243,000,000
243,767,948
Agency Mortgage-Backed Securities
3.00 - 6.50
10/2047 - 5/2056
248,390,628
Bank of Montreal
3.66
5/2026
6/2026
271,000,000
271,964,308
Agency Collateralized Mortgage Obligation
4.63 - 5.14
12/2054 - 5/2056
279,300,270
Bank of Montreal
3.67
5/2026
6/2026
194,000,000
194,593,317
Agency Collateralized Mortgage Obligation
4.73 - 5.38
4/2054 - 5/2055
200,207,041
Bank of Montreal
3.66
5/2026
6/2026
193,000,000
193,137,352
Agency Mortgage-Backed Securities
2.71 - 4.97
11/2028 - 7/2030
196,960,071
Bank of Montreal
3.62
5/2026
6/2026
29,000,000
29,008,748
U.S. Treasuries (including strips)
4.63
11/2045
29,588,978
Barclays Bank PLC
3.63
5/2026
6/2026
288,000,000
288,087,120
Agency Mortgage-Backed Securities
2.00 - 6.50
9/2029 - 5/2055
164,406,817
Agency Collateralized Mortgage Obligation
1.50 - 12.51
10/2027 - 1/2067
130,924,563
295,331,380
BofA Securities, Inc.
3.64(f)
3/2026
7/2026
94,000,000
95,159,542
Agency Mortgage-Backed Securities
2.00 - 7.00
7/2029 - 3/2076
96,694,422
BofA Securities, Inc.
3.64(f)
3/2026
7/2026
94,000,000
95,159,542
Agency Mortgage-Backed Securities
2.00 - 7.50
7/2027 - 6/2056
88,611,682
Agency Debentures and Agency Strips
2.93
2/2042
8,112,143
96,723,825
BofA Securities, Inc.
3.63(f)
2/2026
6/2026
128,000,000
129,548,800
U.S. Treasuries (including strips)
3.88 - 5.00
4/2029 - 11/2055
132,808,939
BofA Securities, Inc.
3.63(f)
1/2026
6/2026
42,000,000
42,546,315
U.S. Treasuries (including strips)
0.75 - 4.50
8/2026 - 1/2033
43,399,599
BofA Securities, Inc.
3.63(f)
1/2026
6/2026
233,000,000
235,936,771
U.S. Treasuries (including strips)
5.00
5/2045
240,667,909
Canadian Imperial Bank of Commerce
3.64
5/2026
6/2026
448,000,000
449,449,529
U.S. Treasuries (including strips)
0.00 - 4.88
6/2026 - 8/2055
457,728,486
Canadian Imperial Bank of Commerce
3.74
4/2026
6/2026
12,000,000
12,061,087
Agency Mortgage-Backed Securities
1.69 - 6.50
10/2029 - 10/2055
750,420
Agency Collateralized Mortgage Obligation
0.00 - 6.50
10/2038 - 10/2072
10,038,994
Agency Debentures and Agency Strips
4.81 - 5.45
8/2033 - 2/2056
1,687,772
12,477,186
Citigroup Global Capital Markets Inc
3.68(f)
5/2026
7/2026
502,000,000
505,181,565
Agency Mortgage-Backed Securities
4.50 - 6.00
2/2056 - 3/2066
512,249,511
Citigroup Global Capital Markets Inc
3.68(f)
5/2026
7/2026
506,000,000
509,206,915
Agency Mortgage-Backed Securities
4.00 - 6.50
1/2056 - 3/2066
517,158,978
Citigroup Global Capital Markets Inc
3.68(f)
5/2026
7/2026
887,000,000
892,621,609
Agency Mortgage-Backed Securities
4.00 - 7.00
2/2056 - 3/2066
907,113,938
Citigroup Global Capital Markets Inc
3.67(f)
5/2026
7/2026
505,000,000
508,191,880
U.S. Treasuries (including strips)
0.00 - 4.00
9/2026 - 7/2029
516,447,931
Credit AG
3.58
5/2026
6/2026
178,000,000
178,531,033
U.S. Treasuries (including strips)
1.13 - 4.63
6/2026 - 8/2043
181,794,750
Fixed Income Clearing Corp - BNP
3.62
5/2026
6/2026
1,651,000,000
1,651,498,052
U.S. Treasuries (including strips)
1.25 - 4.63
3/2028 - 5/2050
1,684,528,015
Fixed Income Clearing Corp - BNP
3.62
5/2026
6/2026
2,096,000,000
2,096,632,293
U.S. Treasuries (including strips)
1.25 - 4.75
12/2026 - 5/2054
2,138,564,941
Fixed Income Clearing Corp - BNP
3.62
5/2026
6/2026
1,310,000,000
1,310,395,183
U.S. Treasuries (including strips)
0.00 - 5.00
7/2026 - 2/2055
1,336,603,094
Fixed Income Clearing Corp - BNYM
3.62
5/2026
6/2026
4,192,000,000
4,193,264,587
U.S. Treasuries (including strips)
0.38 - 3.63
7/2027 - 1/2035
4,275,840,062
Fixed Income Clearing Corp - BONY
3.63
5/2026
6/2026
2,306,000,000
2,306,697,565
Agency Mortgage-Backed Securities
2.00 - 7.00
1/2036 - 6/2064
1,591,893,594
U.S. Treasuries (including strips)
3.00 - 4.75
9/2029 - 11/2055
760,226,407
2,352,120,001
Fixed Income Clearing Corp - Barclays
3.65
5/2026
6/2026
699,000,000
699,496,096
U.S. Treasuries (including strips)
0.00 - 4.63
6/2026 - 11/2052
713,196,984
Fixed Income Clearing Corp - Barclays
3.65
5/2026
6/2026
353,000,000
353,250,532
U.S. Treasuries (including strips)
3.50 - 4.75
10/2027 - 5/2054
360,169,564
Fixed Income Clearing Corp - Barclays
3.66
5/2026
6/2026
483,000,000
483,343,735
U.S. Treasuries (including strips)
0.00 - 4.63
8/2026 - 2/2055
492,810,263
Fixed Income Clearing Corp - Barclays
3.66
5/2026
6/2026
793,000,000
793,564,352
U.S. Treasuries (including strips)
2.88 - 4.75
12/2027 - 5/2052
809,106,754
Fixed Income Clearing Corp - Barclays
3.66
5/2026
6/2026
87,000,000
87,053,070
U.S. Treasuries (including strips)
0.38 - 4.25
9/2027 - 8/2049
88,767,125
Fixed Income Clearing Corp - Barclays
3.66
5/2026
6/2026
176,000,000
176,107,360
U.S. Treasuries (including strips)
0.00 - 4.75
6/2026 - 5/2055
179,574,783
Fixed Income Clearing Corp - Barclays
3.63
5/2026
6/2026
1,048,000,000
1,048,317,020
U.S. Treasuries (including strips)
0.00 - 4.88
6/2026 - 5/2033
1,069,283,405
Fixed Income Clearing Corp - Barclays
3.63
5/2026
6/2026
1,747,000,000
1,747,528,467
U.S. Treasuries (including strips)
0.00 - 4.63
8/2026 - 11/2035
1,782,479,112
Fixed Income Clearing Corp - CIBC
3.63
5/2026
6/2026
2,893,000,000
2,893,875,132
U.S. Treasuries (including strips)
0.88 - 3.88
1/2028 - 12/2030
2,950,665,818
Fixed Income Clearing Corp - CIBC
3.63
5/2026
6/2026
349,000,000
349,105,572
U.S. Treasuries (including strips)
1.63 - 2.75
8/2032 - 11/2050
355,830,023
Fixed Income Clearing Corp - Credit Agricole
3.65
5/2026
6/2026
1,757,000,000
1,757,534,421
U.S. Treasuries (including strips)
1.13 - 4.38
1/2027 - 5/2040
1,792,685,112
Fixed Income Clearing Corp - Credit Agricole
3.65
5/2026
6/2026
1,995,000,000
1,995,606,812
U.S. Treasuries (including strips)
2.00 - 4.00
8/2032 - 2/2042
2,051,478,305
Fixed Income Clearing Corp - Goldman
3.62
5/2026
6/2026
1,633,000,000
1,633,492,622
U.S. Treasuries (including strips)
0.00 - 4.50
11/2026 - 11/2030
1,666,162,534
Fixed Income Clearing Corp - Goldman
3.61
5/2026
6/2026
1,576,606,000
1,577,080,296
U.S. Treasuries (including strips)
0.00 - 5.38
7/2026 - 5/2031
1,608,621,916
Fixed Income Clearing Corp - ING
3.73
4/2026
6/2026
507,000,000
509,574,011
Agency Mortgage-Backed Securities
3.00 - 6.50
4/2040 - 5/2056
517,300,744
Fixed Income Clearing Corp - ING
3.63
5/2026
6/2026
574,000,000
574,173,635
Agency Mortgage-Backed Securities
2.00 - 6.50
7/2042 - 9/2057
585,657,108
Fixed Income Clearing Corp - ING
3.63
5/2026
6/2026
87,000,000
87,026,318
U.S. Treasuries (including strips)
1.25
8/2031
88,715,849
Fixed Income Clearing Corp - ING
3.62
5/2026
6/2026
2,270,325,000
2,271,009,881
U.S. Treasuries (including strips)
0.00 - 4.63
6/2026 - 2/2054
2,316,430,079
Fixed Income Clearing Corp - JP Morgan
3.62
5/2026
6/2026
2,923,000,000
2,923,881,772
U.S. Treasuries (including strips)
0.50 - 4.50
7/2027 - 11/2054
2,982,359,451
Fixed Income Clearing Corp - JP Morgan
3.62
5/2026
6/2026
580,000,000
580,174,967
U.S. Treasuries (including strips)
3.38
9/2027
591,778,510
Fixed Income Clearing Corp - Mizuho
3.63
5/2026
6/2026
1,053,000,000
1,053,318,533
Agency Mortgage-Backed Securities
1.50 - 8.00
1/2027 - 6/2056
979,405,972
U.S. Treasuries (including strips)
0.00 - 4.63
8/2026 - 11/2055
94,978,931
1,074,384,903
Fixed Income Clearing Corp - Mizuho
3.62
5/2026
6/2026
1,505,000,000
1,505,454,008
U.S. Treasuries (including strips)
0.63 - 4.88
11/2026 - 5/2032
1,535,563,125
Fixed Income Clearing Corp - Morgan Stanley
3.63
5/2026
6/2026
1,153,000,000
1,153,348,782
Agency Mortgage-Backed Securities
1.50 - 7.50
11/2026 - 5/2056
1,176,415,759
Fixed Income Clearing Corp - Morgan Stanley
3.63
5/2026
6/2026
3,652,000,000
3,653,104,730
Agency Mortgage-Backed Securities
1.50 - 8.00
7/2026 - 5/2056
3,726,166,825
Fixed Income Clearing Corp - Morgan Stanley
3.63
5/2026
6/2026
3,652,000,000
3,653,104,730
Agency Mortgage-Backed Securities
1.50 - 8.00
8/2026 - 1/2059
3,726,166,825
Fixed Income Clearing Corp - Morgan Stanley
3.63
5/2026
6/2026
3,652,000,000
3,653,104,730
Agency Mortgage-Backed Securities
2.00 - 7.50
7/2031 - 5/2056
3,725,198,682
U.S. Treasuries (including strips)
2.25 - 4.75
8/2039 - 2/2056
968,144
3,726,166,826
Fixed Income Clearing Corp - Morgan Stanley
3.62
5/2026
6/2026
1,355,000,000
1,355,408,758
U.S. Treasuries (including strips)
0.00 - 6.63
6/2026 - 11/2035
1,382,516,934
Fixed Income Clearing Corp - Natixis
3.63
5/2026
6/2026
1,218,000,000
1,218,368,445
U.S. Treasuries (including strips)
3.50 - 4.38
7/2027 - 9/2029
1,242,355,370
Fixed Income Clearing Corp - Natwest
3.63
5/2026
6/2026
16,000,000
16,004,840
U.S. Treasuries (including strips)
1.38
10/2028
16,324,946
Fixed Income Clearing Corp - Nomura
3.62
5/2026
6/2026
1,345,000,000
1,345,405,742
U.S. Treasuries (including strips)
2.25 - 4.63
7/2027 - 5/2034
1,372,313,887
Fixed Income Clearing Corp - Northern Trust
3.63
5/2026
6/2026
504,000,000
504,152,460
U.S. Treasuries (including strips)
0.00
7/2026 - 7/2026
514,450,635
Fixed Income Clearing Corp - Northern Trust
3.62
5/2026
6/2026
2,095,000,000
2,095,631,992
U.S. Treasuries (including strips)
3.88 - 4.63
11/2027 - 4/2029
2,138,300,028
Fixed Income Clearing Corp - State Street Bank
3.63
5/2026
6/2026
1,057,000,000
1,057,319,742
Agency Mortgage-Backed Securities
2.00 - 7.00
12/2031 - 4/2056
1,080,333,113
Fixed Income Clearing Corp - State Street Bank
3.62
5/2026
6/2026
2,270,000,000
2,270,684,783
U.S. Treasuries (including strips)
1.25 - 3.88
6/2028 - 6/2028
2,315,422,587
Fixed Income Clearing Corp - Wells Fargo Bank
3.60
5/2026
6/2026
219,000,000
219,416,100
U.S. Treasuries (including strips)
3.63
8/2030
223,447,016
Fixed Income Clearing Corp - Wells Fargo Bank
3.63
5/2026
6/2026
220,000,000
220,465,850
U.S. Treasuries (including strips)
3.50 - 3.63
12/2028 - 8/2030
224,467,972
Fixed Income Clearing Corp - Wells Fargo Bank
3.65
5/2026
6/2026
267,000,000
267,189,496
U.S. Treasuries (including strips)
4.25
11/2034
272,422,866
Fixed Income Clearing Corp - Wells Fargo Bank
3.65
5/2026
6/2026
383,000,000
383,271,824
U.S. Treasuries (including strips)
3.50 - 3.63
10/2028 - 10/2030
390,778,828
Fixed Income Clearing Corp - Wells Fargo Bank
3.60
5/2026
6/2026
66,000,000
66,092,400
U.S. Treasuries (including strips)
4.25
1/2030
67,340,255
Fixed Income Clearing Corp - Wells Fargo Bank
3.65
5/2026
6/2026
198,000,000
198,381,425
U.S. Treasuries (including strips)
3.63
8/2028
202,021,496
Fixed Income Clearing Corp - Wells Fargo Bank
3.65
5/2026
6/2026
152,000,000
152,107,878
U.S. Treasuries (including strips)
4.63
4/2029
155,087,232
Fixed Income Clearing Corp - Wells Fargo Bank
3.65
5/2026
6/2026
174,000,000
174,123,492
U.S. Treasuries (including strips)
3.88
6/2030
177,533,984
Fixed Income Clearing Corp - Wells Fargo Bank
3.65
5/2026
6/2026
521,000,000
521,369,765
U.S. Treasuries (including strips)
2.88 - 3.88
5/2032 - 8/2032
531,581,690
JP Morgan Securities, LLC
3.74(f)
5/2026
9/2026
252,000,000
255,220,140
Agency Collateralized Mortgage Obligation
1.25 - 5.50
8/2040 - 9/2065
132,640,280
Agency Debentures and Agency Strips
1.50 - 6.00
11/2036 - 2/2056
127,558,166
260,198,446
JP Morgan Securities, LLC
3.64(f)
5/2026
6/2026
1,715,000,000
1,720,375,572
U.S. Treasuries (including strips)
3.50 - 4.00
12/2028 - 11/2042
1,749,830,699
JP Morgan Securities, LLC
3.64(f)
5/2026
6/2026
1,735,000,000
1,740,262,833
U.S. Treasuries (including strips)
0.50 - 2.63
5/2027 - 5/2040
1,773,223,196
JP Morgan Securities, LLC
3.64(f)
5/2026
6/2026
2,597,000,000
2,605,140,152
U.S. Treasuries (including strips)
3.38 - 3.88
5/2027 - 4/2029
2,655,279,081
Lloyds Bank Corp Mrkts
3.66
5/2026
6/2026
141,000,000
141,100,345
U.S. Treasuries (including strips)
2.75 - 5.00
9/2027 - 5/2056
143,939,138
Lloyds Bank PLC
3.70
5/2026
9/2026
110,000,000
111,096,639
U.S. Treasuries (including strips)
0.50 - 4.88
6/2027 - 8/2034
112,234,647
Lloyds Bank PLC
3.70
5/2026
8/2026
112,000,000
113,082,044
U.S. Treasuries (including strips)
0.50 - 4.88
8/2027 - 2/2034
114,310,462
Lloyds Bank PLC
3.70
5/2026
8/2026
111,000,000
112,049,566
U.S. Treasuries (including strips)
0.50 - 4.63
6/2027 - 11/2033
113,278,192
Lloyds Bank PLC
3.67
5/2026
8/2026
112,000,000
113,016,182
U.S. Treasuries (including strips)
0.00 - 4.63
7/2026 - 8/2047
114,379,803
Lloyds Bank PLC
3.70
5/2026
8/2026
169,000,000
170,597,988
U.S. Treasuries (including strips)
0.50 - 6.75
8/2026 - 11/2033
172,698,926
Lloyds Bank PLC
3.67
5/2026
8/2026
112,000,000
112,947,676
U.S. Treasuries (including strips)
0.63 - 4.63
6/2027 - 11/2033
114,391,437
Lloyds Bank PLC
3.71
5/2026
8/2026
112,000,000
113,061,884
U.S. Treasuries (including strips)
0.50 - 4.63
6/2027 - 2/2034
114,557,898
Lloyds Bank PLC
3.72
4/2026
7/2026
56,000,000
56,526,587
U.S. Treasuries (including strips)
0.50 - 4.88
8/2027 - 2/2033
57,326,600
Lloyds Bank PLC
3.72
4/2026
7/2026
112,000,000
113,053,173
U.S. Treasuries (including strips)
0.50 - 4.63
6/2027 - 11/2033
114,700,472
Lloyds Bank PLC
3.72
4/2026
7/2026
112,000,000
112,970,854
U.S. Treasuries (including strips)
0.63 - 4.63
6/2027 - 2/2034
114,723,388
Lloyds Bank PLC
3.73
3/2026
6/2026
110,000,000
111,116,928
U.S. Treasuries (including strips)
0.50 - 4.38
4/2027 - 5/2034
113,048,690
Lloyds Bank PLC
3.73
3/2026
6/2026
55,000,000
55,564,162
U.S. Treasuries (including strips)
0.50 - 4.63
6/2027 - 2/2035
56,535,979
Lloyds Bank PLC
3.73
3/2026
6/2026
110,000,000
111,128,325
U.S. Treasuries (including strips)
0.50 - 4.63
4/2027 - 8/2034
113,095,234
MUFG Securities (Canada), Ltd.
3.71
4/2026
7/2026
127,000,000
128,060,133
Agency Mortgage-Backed Securities
2.00 - 6.50
4/2032 - 5/2056
119,753,316
U.S. Treasuries (including strips)
1.00 - 2.88
2/2031 - 2/2048
10,209,836
Agency Debentures and Agency Strips
2.88
3/2029
9,739
129,972,891
MUFG Securities (Canada), Ltd.
3.70
4/2026
7/2026
112,000,000
112,932,400
U.S. Treasuries (including strips)
0.50 - 4.88
11/2026 - 5/2046
114,615,731
MUFG Securities EMEA PLC
3.65
5/2026
7/2026
484,000,000
487,042,478
U.S. Treasuries (including strips)
0.50 - 4.13
5/2027 - 5/2033
493,685,831
MUFG Securities EMEA PLC
3.63
5/2026
6/2026
306,000,000
306,092,565
U.S. Treasuries (including strips)
0.00 - 3.88
7/2026 - 8/2033
312,113,950
Mizuho Bank, Ltd.
3.63
5/2026
6/2026
174,000,000
174,052,635
U.S. Treasuries (including strips)
1.63
5/2031
178,040,894
NatWest Market Securities Inc
3.65
5/2026
6/2026
173,000,000
173,122,782
U.S. Treasuries (including strips)
0.00 - 4.00
9/2026 - 4/2030
176,567,798
NatWest Market Securities Inc
3.62
5/2026
6/2026
242,000,000
242,073,003
U.S. Treasuries (including strips)
1.88 - 4.25
2/2028 - 5/2035
246,914,488
Norinchukin Bank
3.68
5/2026
6/2026
111,000,000
111,079,427
U.S. Treasuries (including strips)
0.00 - 4.13
5/2032 - 8/2033
113,231,667
Norinchukin Bank
3.66
5/2026
6/2026
112,000,000
112,079,707
U.S. Treasuries (including strips)
0.00 - 4.13
5/2032 - 8/2033
114,274,856
PNC Bank NA
3.62
5/2026
6/2026
55,000,000
55,016,592
Agency Mortgage-Backed Securities
2.50 - 4.21
5/2030 - 3/2052
56,116,924
RBC Dominion Securities
3.68
4/2026
7/2026
967,000,000
976,291,796
Agency Mortgage-Backed Securities
0.75 - 7.00
10/2027 - 6/2056
762,433,145
U.S. Treasuries (including strips)
0.00 - 4.75
6/2026 - 5/2055
229,085,794
991,518,939
RBC Dominion Securities
3.68
4/2026
6/2026
616,000,000
619,652,196
Agency Mortgage-Backed Securities
1.50 - 6.50
1/2036 - 4/2056
606,026,362
U.S. Treasuries (including strips)
0.00 - 4.50
10/2026 - 2/2050
24,715,864
630,742,226
RBC Dominion Securities
3.67
4/2026
6/2026
55,000,000
55,325,203
U.S. Treasuries (including strips)
1.25 - 4.63
6/2027 - 11/2035
56,294,490
RBC Dominion Securities
3.67
4/2026
6/2026
529,000,000
531,642,502
U.S. Treasuries (including strips)
0.38 - 4.63
1/2027 - 5/2054
541,662,951
RBC Financial Group
3.69
4/2026
10/2026
436,000,000
442,882,260
Agency Mortgage-Backed Securities
2.00 - 6.50
4/2028 - 3/2056
7,202,834
U.S. Treasuries (including strips)
3.38
11/2027
438,975,941
446,178,775
RBC Financial Group
3.68
5/2026
7/2026
194,000,000
195,784,800
Agency Mortgage-Backed Securities
5.00 - 6.50
3/2053 - 5/2056
30,957,240
U.S. Treasuries (including strips)
3.88
6/2028
167,549,897
198,507,137
RBC Financial Group
3.68
5/2026
7/2026
339,000,000
342,014,840
Agency Mortgage-Backed Securities
4.00 - 6.50
9/2052 - 9/2055
346,769,699
RBC Financial Group
3.66
5/2026
7/2026
529,000,000
533,248,752
U.S. Treasuries (including strips)
0.00 - 4.63
6/2026 - 11/2047
540,726,706
RBC Financial Group
3.68
5/2026
7/2026
194,000,000
195,685,644
Agency Mortgage-Backed Securities
2.00 - 6.50
5/2027 - 5/2056
6,721,264
U.S. Treasuries (including strips)
3.88
6/2028
191,704,980
198,426,244
RBC Financial Group
3.65
5/2026
6/2026
696,000,000
698,258,133
U.S. Treasuries (including strips)
0.50 - 4.63
9/2026 - 5/2035
710,135,953
RBC Financial Group
3.65
1/2026
6/2026
246,000,000
249,641,484
U.S. Treasuries (including strips)
0.00 - 4.38
7/2026 - 2/2055
254,614,289
RBC Financial Group
3.65
1/2026
6/2026
114,000,000
115,699,075
U.S. Treasuries (including strips)
0.00 - 4.38
7/2026 - 2/2054
117,814,413
RBC Financial Group
3.58
5/2026
6/2026
100,000,000
100,139,222
U.S. Treasuries (including strips)
0.75 - 4.63
6/2027 - 7/2028
102,111,596
Royal Bank of Canada
3.66
5/2026
6/2026
342,000,000
342,243,390
U.S. Treasuries (including strips)
0.75 - 4.63
8/2026 - 2/2055
349,365,814
SMBC Nikko Securities America Inc
3.62
5/2026
6/2026
263,000,000
263,079,338
Agency Mortgage-Backed Securities
2.00 - 8.50
6/2028 - 5/2056
255,157,251
U.S. Treasuries (including strips)
1.50 - 3.88
3/2028 - 2/2056
13,271,881
268,429,132
SMBC Nikko Securities America Inc
3.62
5/2026
6/2026
726,000,000
726,219,010
U.S. Treasuries (including strips)
0.00 - 4.75
7/2026 - 11/2055
740,744,934
Sumitomo Mitsui Banking Corp
3.72
4/2026
7/2026
34,000,000
34,319,713
U.S. Treasuries (including strips)
4.38
8/2028 - 12/2029
34,905,164
Sumitomo Mitsui Banking Corp
3.70
5/2026
6/2026
39,000,000
39,056,117
U.S. Treasuries (including strips)
4.50
11/2033
39,993,650
TD Securities (U.S.A.)
3.63
5/2026
6/2026
182,000,000
182,055,055
Agency Mortgage-Backed Securities
2.00 - 6.00
3/2048 - 5/2056
185,696,156
TD Securities (U.S.A.)
3.62
5/2026
6/2026
184,000,000
184,055,507
U.S. Treasuries (including strips)
1.88 - 4.38
1/2028 - 5/2034
187,736,639
TD Securities (U.S.A.)
3.62
5/2026
6/2026
96,000,000
96,028,960
U.S. Treasuries (including strips)
0.50 - 4.63
8/2027 - 5/2031
97,949,569
US Bancorp Inv
3.62
5/2026
6/2026
389,000,000
389,117,348
U.S. Treasuries (including strips)
0.00 - 4.38
7/2026 - 8/2041
398,581,323
Wells Fargo Bank NA
3.66
5/2026
6/2026
483,000,000
483,343,735
U.S. Treasuries (including strips)
1.25 - 4.25
5/2029 - 8/2031
492,860,411
Wells Fargo Securities, LLC
3.67
5/2026
7/2026
252,000,000
253,592,780
Agency Mortgage-Backed Securities
2.00 - 6.50
8/2035 - 5/2056
257,380,649
Wells Fargo Securities, LLC
3.67
5/2026
7/2026
253,000,000
254,547,516
Agency Collateralized Mortgage Obligation
0.68 - 4.25
9/2030 - 10/2042
260,961,920
Wells Fargo Securities, LLC
3.72
4/2026
7/2026
126,000,000
127,171,800
Agency Mortgage-Backed Securities
3.50 - 5.50
8/2049 - 5/2056
129,250,422
Wells Fargo Securities, LLC
3.73
3/2026
6/2026
748,000,000
755,052,601
Agency Mortgage-Backed Securities
1.50 - 7.50
7/2033 - 6/2056
768,809,785
Wells Fargo Securities, LLC
3.67
5/2026
6/2026
253,000,000
253,851,134
Agency Mortgage-Backed Securities
2.00 - 6.50
8/2031 - 10/2054
258,533,540
Wells Fargo Securities, LLC
3.71
3/2026
6/2026
249,000,000
251,335,136
Agency Mortgage-Backed Securities
2.00 - 7.00
8/2026 - 5/2056
256,073,924
Wells Fargo Securities, LLC
3.71
3/2026
6/2026
1,247,000,000
1,258,565,925
Agency Collateralized Mortgage Obligation
2.88 - 5.61
9/2027 - 6/2056
1,295,263,978
Wells Fargo Securities, LLC
3.66
5/2026
6/2026
96,000,000
96,068,320
Agency Collateralized Mortgage Obligation
1.49 - 4.25
1/2029 - 4/2033
98,930,265
Wells Fargo Securities, LLC
3.72
3/2026
6/2026
324,000,000
327,046,680
Agency Mortgage-Backed Securities
1.50 - 8.00
4/2027 - 6/2056
333,553,464
Total Repurchase Agreements
87,903,931,000
88,069,428,251
89,800,691,060
The date shown for securities represents the date when principal payments must be paid, taking into account any call options exercised by the issuer and any permissible maturity shortening features other than interest rate resets.
Legend
(a)
Amount is stated in United States dollars unless otherwise noted.
(b)
Represents a forward settling transaction and therefore no collateral securities had been allocated as of period end. The agreement contemplated the delivery of U.S. Treasury Obligations as collateral on settlement date.
(c)
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
(d)
Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
(e)
Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.
(f)
Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and / or subject to caps or floors. Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. The maturity amount is based on the rate at period end.
Investment Valuation
All investments are categorized as Level 2 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in these securities. For more information on valuation inputs, refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
Other Information
# Additional information on each counterparty to the repurchase agreement is as follows:
Repurchase Agreement / Counterparty
Value ($)
$10,819,480,000 due 06/01/2026 at 3.62%
Bank of America NA
691,274,000
Bny Mellon Capital Market LLC
755,348,000
BofA Securities Inc
575,511,000
HSBC Securities Inc (USA)
468,048,000
JPMorgan Securities LLC
1,590,032,000
MUFG Securities (Canada) Ltd.
432,046,000
Rbc Dominion Securities Inc
2,137,885,000
Societe Generale SA
852,536,000
Sumitomo Mitsui Banking Corp
1,932,264,000
Sumitomo Mitsui Banking Corp/New York
1,384,536,000
10,819,480,000
$25,440,000 due 06/01/2026 at 3.62%
HSBC Securities Inc (USA)
25,440,000
25,440,000
Financial Statements (Unaudited)
Statement of Assets and Liabilities
As of May 31, 2026 (Unaudited)
Assets
Investment in securities, at value (including repurchase agreements of $102,503,851,000) - See accompanying schedule:
Unaffiliated issuers (cost $252,391,226,410)
$
252,391,226,410
Cash
939,000,781
Receivable for investments sold
1,359,864,025
Receivable for fund shares sold
1,572,475,775
Interest receivable
579,533,068
Prepaid expenses
27,730
Other receivables
4,009,966
Total assets
256,846,137,755
Liabilities
Payable for investments purchased
$
8,635,345,508
Payable for fund shares redeemed
1,429,160,124
Distributions payable
122,564,055
Accrued management fee
70,861,696
Other payables and accrued expenses
5,253,767
Total liabilities
10,263,185,150
Net Assets
$
246,582,952,605
Net Assets consist of:
Paid in capital
$
246,583,489,560
Total accumulated earnings (loss)
(536,955)
Net Assets
$
246,582,952,605
Net Asset Value, offering price and redemption price per share ($246,582,952,605 ÷ 246,543,571,844 shares)
$
1.00
Statement of Operations
Six months ended May 31, 2026 (Unaudited)
Investment Income
Interest
$
4,524,496,884
Expenses
Management fee
$
418,318,616
Custodian fees and expenses
653,425
Independent trustees' fees and expenses
236,766
Registration fees
6,033,545
Audit fees
39,387
Legal
100,943
Miscellaneous
167,087
Total expenses
425,549,769
Net Investment income (loss)
4,098,947,115
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Unaffiliated issuers
(53,211)
Total net realized gain (loss)
(53,211)
Net increase in net assets resulting from operations
$
4,098,893,904
Statement of Changes in Net Assets
Six months ended
May 31, 2026
(Unaudited)
Year ended
November 30, 2025
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)
$
4,098,947,115
$
9,376,977,315
Net realized gain (loss)
(53,211)
1,194,884
Net increase in net assets resulting from operations
4,098,893,904
9,378,172,199
Distributions to shareholders
(4,099,153,552)
(9,376,866,609)
Share transactions
Proceeds from sales of shares
572,159,953,422
1,133,990,473,284
Reinvestment of distributions
3,364,618,528
7,617,112,067
Cost of shares redeemed
(568,449,699,681)
(1,137,614,545,454)
Net increase (decrease) in net assets and shares resulting from share transactions
7,074,872,269
3,993,039,897
Total increase (decrease) in net assets
7,074,612,621
3,994,345,487
Net Assets
Beginning of period
239,508,339,984
235,513,994,497
End of period
$
246,582,952,605
$
239,508,339,984
Other Information
Shares
Sold
572,159,998,233
1,133,990,473,307
Issued in reinvestment of distributions
3,364,618,528
7,617,112,067
Redeemed
(568,449,699,704)
(1,137,614,545,477)
Net increase (decrease)
7,074,917,057
3,993,039,897
Financial Highlights
Fidelity® Government Cash Reserves
Six months ended
May 31, 2026
(Unaudited)
Years ended November 30, 2025
2024
2023
2022
2021
Selected Per-Share Data
Net asset value, beginning of period
$
1.00
$
1.00
$
1.00
$
1.00
$
1.00
$
1.00
Income from Investment Operations
Net investment income (loss) A
.017
.040
.049
.046
.010
- B
Net realized and unrealized gain (loss) B
-
-
-
-
-
-
Total from investment operations
.017
.040
.049
.046
.010
- B
Distributions from net investment income
(.017)
(.040)
(.049)
(.046)
(.010)
- B
Total distributions
(.017)
(.040)
(.049)
(.046)
(.010)
- B
Net asset value, end of period
$
1.00
$
1.00
$
1.00
$
1.00
$
1.00
$
1.00
Total Return C,D
1.71
%
4.07%
5.02%
4.67%
1.03%
.01%
Ratios to Average Net Assets A,E,F
Expenses before reductions
.35% G
.37%
.40%
.41%
.34%
.33%
Expenses net of fee waivers, if any
.35
% G
.37%
.39%
.40%
.27%
.08%
Expenses net of all reductions, if any
.35% G
.37%
.39%
.40%
.27%
.08%
Net investment income (loss)
3.40% G
4.00%
4.90%
4.58%
1.00%
.01%
Supplemental Data
Net assets, end of period (000 omitted)
$
246,582,953
$
239,508,340
$
235,513,994
$
228,654,319
$
214,352,646
$
214,123,363
ANet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
BAmount represents less than $.005 per share.
CTotal returns for periods of less than one year are not annualized.
DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.
FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
GAnnualized.
Notes to Financial Statements
(Unaudited)
For the period ended May 31, 2026
1. Organization.
Fidelity Government Cash Reserves (the Fund) is a fund of Fidelity Phillips Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware statutory trust.
2. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's portfolio management team, part of the investment adviser, serves as the chief operating decision maker (CODM) and directs the Fund's investments in accordance with its investment objective and policies, with support from others responsible for oversight functions. The information reviewed by the CODM is consistent with the Fund's financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
Investment Valuation. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
As permitted by compliance with certain conditions under Rule 2a-7 of the 1940 Act, securities are valued at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter amortizing any discount or premium from its face value at a constant rate until maturity. Securities held by a money market fund are generally high quality and liquid; however, they are reflected as Level 2 because the inputs used to determine fair value are not quoted prices in an active market.
Investment Transactions and Income. The net asset value per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time. Security transactions are accounted for as of trade date. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.
Distributions are declared and recorded daily and paid monthly from net investment income. Distributions from realized gains, if any, are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
Book-tax differences are primarily due to capital loss carryforwards and losses deferred due to wash sales.
As of period end, the cost and unrealized appreciation (depreciation) in securities for federal income tax purposes were as follows:
Gross unrealized appreciation
$-
Gross unrealized depreciation
-
Net unrealized appreciation (depreciation)
$-
Tax cost
$252,391,226,410
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
Short-term
$-
Long-term
(600,455)
Total capital loss carryforward
$(600,455)
Repurchase Agreements. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission, funds and other registered investment companies having management contracts with Fidelity Management and Research Company LLC, or its affiliates are permitted to transfer uninvested cash balances into joint trading accounts which are then invested in repurchase agreements. Funds may also invest directly with institutions in repurchase agreements. Repurchase agreements may be collateralized by cash or government securities. Upon settlement date, collateral is held in segregated accounts with custodian banks and may be obtained in the event of a default of the counterparty. The collateral balance is monitored on a daily basis to ensure it is at least equal to the principal amount of the repurchase agreement (including accrued interest). In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the value of the collateral may decline.
3. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee.
Any reference to "class" in this note shall mean "the Fund" as the Fund currently offers only one class of shares. The Fund's management contract incorporates a management fee rate that may vary by class. The investment adviser or an affiliate pays certain expenses of managing and operating the Fund out of each class's management fee. Each class of the Fund pays a management fee to the investment adviser. The management fee is calculated and paid to the investment adviser every month. The management fee is determined by calculating a basic fee and then adding an income-related fee. When determining a class's management fee, a mandate rate is calculated based on the monthly average net assets of a group of funds advised by FMR within a designated asset class. A discount rate is subtracted from the mandate rate once the Fund's monthly average net assets reach a certain level. The mandate rate and discount rate may vary by class. The annual management fee rate for a class of shares of the Fund is the lesser of (1) the class's mandate rate reduced by the class's discount rate (if applicable) or (2) the amount set forth in the following table.
Maximum Management Fee Rate %
Fidelity Government Cash Reserves
.27
One-twelfth of the management fee rate for a class is applied to the average net assets of the class for the month, giving a dollar amount which is the management fee for the class for that month. The income-related fee varies depending on the level of the Fund's monthly gross income from an annualized rate of .05% (at a fund annualized gross yield of 0%) to .27% (at a fund annualized gross yield of 15%) of the Fund's average net assets throughout the month. The income-related fee is proportionately added to a class's basic fee. A different management fee rate may be applicable to each class of the Fund. The difference between classes is the result of separate arrangements for class-level services and/or waivers of certain expenses. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of the Fund's assets, which do not vary by class. For the reporting period, the total annualized income-related fee and management fee rates were as follows:
Total Management Fee Rate %
Income-Related Fee $
Income-Related Fee Rate %
Fidelity Government Cash Reserves
.35
102,596,489
.09
Deferred Trustee Compensation. Under a Deferred Compensation Plan (the Plan) for certain Funds, certain independent Trustees have elected to defer receipt of a portion of their annual compensation. Deferred amounts are invested in affiliated mutual funds, are marked-to-market and remain in a fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees presented below are included in the accompanying Statement of Assets and Liabilities in other receivables and other payables and accrued expenses, as applicable.
Fidelity Government Cash Reserves
$4,009,966
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. During the period, there were no interfund trades.
4. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
5. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies
(Unaudited)
Note: This is not applicable for any fund included in this document.
Item 9: Proxy Disclosures for Open-End Management Investment Companies
(Unaudited)
Note: This is not applicable for any fund included in this document.
Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies
(Unaudited)
Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.
Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract
(Unaudited)
Note: This is not applicable for any fund included in this document.
1.704549.128
CAS-SANN-0726

Item 8.

Changes in and Disagreements with Accountants for Open-End Management Investment Companies

See Item 7.

Item 9.

Proxy Disclosures for Open-End Management Investment Companies

See Item 7.

Item 10.

Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies

See Item 7.

Item 11.

Statement Regarding Basis for Approval of Investment Advisory Contract

See Item 7.

Item 12.

Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable.

Item 13.

Portfolio Managers of Closed-End Management Investment Companies

Not applicable.

Item 14.

Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable.

Item 15.

Submission of Matters to a Vote of Security Holders

There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Phillips Street Trust’s Board of Trustees.

Item 16.

Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Phillips Street Trust’s (the “Trust”) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.

Item 17.

Disclosure of Securities Lending Activities for Closed-End Management Investment Companies

Not applicable.

Item 18.

Recovery of Erroneously Awarded Compensation

(a)

Not applicable.

(b)

Not applicable.

Item 19.

Exhibits

(a)

(1)

Not applicable.

(a)

(2)

(a)

(3)

Not applicable.

(b)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Phillips Street Trust

By:

/s/Laura M. Del Prato

Laura M. Del Prato

President and Treasurer (Principal Executive Officer)

Date:

July 23, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:

/s/Laura M. Del Prato

Laura M. Del Prato

President and Treasurer (Principal Executive Officer)

Date:

July 23, 2026

By:

/s/Stephanie Caron

Stephanie Caron

Chief Financial Officer (Principal Financial Officer)

Date:

July 23, 2026

Fidelity Phillips Street Trust published this content on July 23, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on July 23, 2026 at 15:14 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]