Yield to U.S. Treasury Debt UNITED STATES TREASURY 912828HN3 1.41% 01/16/2018 01/16/2018 01/16/2018 74,178,090.00 74,181,611.38 UNITED STATES TREASURY 912828UR9 1.31% 02/28/2018 02/28/2018 02/28/2018 90,000,000.00 89,918,420.02 UNITED STATES TREASURY 912796NW5 1.32% 03/15/2018 03/15/2018 03/15/2018 32,500,000.00 32,413,337.84 UNITED STATES TREASURY 912796LS6 1.46% 03/29/2018 03/29/2018 03/29/2018 22,500,000.00 22,421,101.87 U.S. Government Agency Repurchase Agreement 219,178,090.00 218,934,471.11 CREDIT AGRICOLE CIB/US RP1D0KI61 1.40% 01/02/2018 01/02/2018 01/02/2018 125,600,000.00 125,600,000.00 GOLDMAN SACHS & CO RP1D0KHW5 1.30% 01/02/2018 01/02/2018 01/02/2018 70,000,000.00 70,000,000.00 GOLDMAN SACHS & CO RP1E0F3E9 1.30% 01/07/2018 01/07/2018 01/18/2018 175,000,000.00 175,000,000.00 U.S. Government Agency Debt 370,600,000.00 370,600,000.00 FEDERAL HOME LOAN BANKS 313385SM9 1.29% 01/31/2018 01/31/2018 01/31/2018 30,000,000.00 29,967,875.00 FEDERAL HOME LOAN BANKS 313385SZ0 1.30% 02/12/2018 02/12/2018 02/12/2018 50,000,000.00 49,924,166.67 FEDERAL HOME LOAN BANKS 313385TL0 1.31% 02/23/2018 02/23/2018 02/23/2018 25,000,000.00 24,951,784.73 Non-Financial Company Commercial Paper 105,000,000.00 104,843,826.40 EXXON MOBIL CORP 30229BA31 1.41% 01/03/2018 01/03/2018 01/03/2018 50,000,000.00 49,996,083.32 EXXON MOBIL CORP 30229BA49 1.41% 01/04/2018 01/04/2018 01/04/2018 50,000,000.00 49,994,124.99 Financial Company Commercial Paper 100,000,000.00 99,990,208.31 BANK OF MONTREAL CHICAGO 06366HCC9 1.61% 03/12/2018 03/12/2018 03/12/2018 37,000,000.00 36,884,638.89 BANK OF TOKYO MITSUBISHI UFJ LTD 06538CCD1 1.54% 03/13/2018 03/13/2018 03/13/2018 70,000,000.00 69,790,156.10 BNP PARIBAS NY BRANCH 09659CC71 1.52% 03/07/2018 03/07/2018 03/07/2018 20,000,000.00 19,945,833.01 BNP PARIBAS NY BRANCH 09659CD21 1.47% 04/02/2018 04/02/2018 04/02/2018 30,000,000.00 29,889,283.52 Page 1
Yield to Financial Company Commercial Paper CANADIAN IMPERIAL HOLDING 13607JC48 1.53% 01/08/2018 03/07/2018 03/07/2018 25,000,000.00 25,000,000.00 CREDIT AGRICOLE CIB NY 22533UA29 1.39% 01/02/2018 01/02/2018 01/02/2018 40,000,000.00 39,998,455.54 CREDIT AGRICOLE CIB NY 22533UB93 1.43% 02/09/2018 02/09/2018 02/09/2018 25,000,000.00 24,961,541.51 CREDIT AGRICOLE CIB NY 22533UE25 1.60% 05/02/2018 05/02/2018 05/02/2018 55,000,000.00 54,706,070.94 ING (US) FUNDING LLC 4497W1E10 1.56% 05/01/2018 05/01/2018 05/01/2018 60,000,000.00 59,692,000.29 ING (US) FUNDING LLC 44988KCY3 1.49% 01/02/2018 05/01/2018 05/01/2018 25,000,000.00 24,999,629.85 ING (US) FUNDING LLC 44988KDC0 1.51% 01/02/2018 06/01/2018 06/01/2018 25,000,000.00 25,000,000.00 ING (US) FUNDING LLC 44988KDM8 1.76% 01/31/2018 08/31/2018 08/31/2018 10,000,000.00 10,000,000.00 JP MORGAN SECURITIES LLC 46640EEU8 1.53% 01/05/2018 01/05/2018 01/05/2018 25,000,000.00 25,000,000.00 JP MORGAN SECURITIES LLC 46640EET1 1.59% 01/08/2018 04/06/2018 04/06/2018 25,000,000.00 25,000,000.00 JP MORGAN SECURITIES LLC 46640EFQ6 1.73% 01/25/2018 05/25/2018 05/25/2018 10,000,000.00 10,000,000.00 JP MORGAN SECURITIES LLC 46640EFC7 1.81% 03/22/2018 06/22/2018 06/22/2018 50,000,000.00 50,000,000.00 JP MORGAN SECURITIES LLC 46640QJE2 2.02% 09/14/2018 09/14/2018 09/14/2018 15,000,000.00 14,787,733.36 NATIXIS NY BRANCH 63873KA49 1.45% 01/04/2018 01/04/2018 01/04/2018 48,600,000.00 48,594,127.50 PRUDENTIAL FUNDING LLC 74433HA20 1.38% 01/02/2018 01/02/2018 01/02/2018 25,000,000.00 24,999,041.66 TOYOTA MOTOR CREDIT CORP 89233HA20 1.39% 01/02/2018 01/02/2018 01/02/2018 55,000,000.00 54,997,876.38 TOYOTA MOTOR CREDIT CORP 89233HCF9 1.48% 03/15/2018 03/15/2018 03/15/2018 32,000,000.00 31,905,262.09 TOYOTA MOTOR CREDIT CORP 89233HGK4 1.66% 07/19/2018 07/19/2018 07/19/2018 30,000,000.00 29,728,033.45 737,600,000.00 735,879,684.09 BANK OF AMERICA NA 06050FCJ9 1.63% 01/16/2018 02/16/2018 02/16/2018 25,000,000.00 25,000,000.00 BANK OF AMERICA NA 06050FCK6 1.58% 01/09/2018 04/09/2018 04/09/2018 35,000,000.00 35,000,000.00 BANK OF AMERICA NA 06050FCS9 1.60% 01/16/2018 05/15/2018 05/15/2018 25,000,000.00 25,000,000.00 BANK OF AMERICA NA 06052TYA2 1.49% 05/16/2018 05/16/2018 05/16/2018 25,000,000.00 25,000,000.00 BANK OF MONTREAL CHICAGO 06427KJS7 1.69% 01/12/2018 01/12/2018 01/12/2018 20,000,000.00 20,001,424.23 BANK OF MONTREAL CHICAGO 06427KZS9 1.61% 03/05/2018 06/04/2018 06/04/2018 30,000,000.00 30,000,224.74 BANK OF MONTREAL CHICAGO 06371EQM2 1.56% 01/05/2018 07/05/2018 07/05/2018 25,000,000.00 25,000,000.00 BANK OF NOVA SCOTIA 06417GVA3 1.60% 03/01/2018 06/01/2018 06/01/2018 35,000,000.00 35,000,000.00 Page 2
Yield to BANK OF NOVA SCOTIA 06417GVY1 1.59% 01/08/2018 07/06/2018 07/06/2018 25,000,000.00 25,000,000.00 BANK OF NOVA SCOTIA 06417GD39 1.60% 01/08/2018 09/07/2018 09/07/2018 50,000,000.00 50,000,000.00 BANK OF NOVA SCOTIA HOUSTON 06417GD88 1.70% 03/15/2018 03/15/2018 03/15/2018 15,000,000.00 15,000,000.00 BANK OF TOKYO MITSUBISHI UFJ LTD 06538NG43 1.80% 03/28/2018 03/28/2018 03/28/2018 15,575,000.00 15,570,467.06 BMO HARRIS BANK NA 05574BHF0 1.51% 02/08/2018 02/08/2018 02/08/2018 13,000,000.00 13,000,000.00 BNP PARIBAS NY BRANCH 05582WK29 1.54% 04/19/2018 04/19/2018 04/19/2018 50,000,000.00 50,000,000.00 CANADIAN IMP BK COMM NY 13606BNM4 1.61% 01/16/2018 04/13/2018 04/13/2018 25,000,000.00 25,000,000.00 CANADIAN IMP BK COMM NY 13606BHS8 1.60% 03/01/2018 06/01/2018 06/01/2018 21,000,000.00 21,000,000.00 CANADIAN IMP BK COMM NY 13606BQV1 1.56% 01/12/2018 07/12/2018 07/12/2018 40,000,000.00 40,000,000.00 CITIBANK NA 17305TTK8 1.51% 02/20/2018 02/20/2018 02/20/2018 80,000,000.00 80,000,000.00 CITIBANK NA 17305TTS1 1.66% 04/02/2018 04/02/2018 04/02/2018 45,000,000.00 45,000,000.00 COMMONWEALTH BANK OF AUSTRALIA NY 20271EMC0 1.64% 02/02/2018 02/02/2018 02/02/2018 25,000,000.00 25,000,000.00 COMMONWEALTH BANK OF AUSTRALIA NY 20271EMN6 1.39% 04/09/2018 04/09/2018 04/09/2018 14,000,000.00 14,000,000.00 COMMONWEALTH BANK OF AUSTRALIA NY 20271EMP1 1.57% 01/08/2018 06/08/2018 06/08/2018 37,000,000.00 37,000,000.00 COMMONWEALTH BANK OF AUSTRALIA NY 20271EMX4 1.68% 01/11/2018 12/11/2018 12/11/2018 50,000,000.00 50,000,000.00 CREDIT SUISSE NEW YORK 22549VT52 1.60% 01/12/2018 01/12/2018 01/12/2018 20,000,000.00 20,000,000.00 CREDIT SUISSE NEW YORK 22549LAX3 1.75% 01/18/2018 05/18/2018 05/18/2018 10,000,000.00 10,000,000.00 CREDIT SUISSE NEW YORK 22549LAH8 1.47% 01/02/2018 06/01/2018 06/01/2018 25,000,000.00 25,000,000.00 CREDIT SUISSE NEW YORK 22549LGB5 1.64% 06/22/2018 06/22/2018 06/22/2018 25,000,000.00 25,000,000.00 DNB NOR BANK ASA NY 23341VBJ9 1.38% 01/02/2018 01/02/2018 01/02/2018 120,000,000.00 120,000,000.00 HSBC BANK USA NA 40428A6A0 1.54% 01/04/2018 06/04/2018 06/04/2018 26,000,000.00 26,000,000.00 HSBC BANK USA NA 40428A5P8 1.53% 01/02/2018 07/02/2018 07/02/2018 25,000,000.00 25,000,000.00 MITSUBISHI UFJ FIN GRP 06538NL21 1.53% 04/11/2018 04/11/2018 04/11/2018 40,000,000.00 40,019,734.46 MIZUHO BANK LTD/NY 60700AEX8 1.66% 01/16/2018 02/15/2018 02/15/2018 10,000,000.00 10,000,000.00 MIZUHO BANK LTD/NY 60700AJC9 1.63% 01/09/2018 04/09/2018 04/09/2018 30,000,000.00 30,000,000.00 MIZUHO BANK LTD/NY 60700ALZ5 1.71% 01/22/2018 05/21/2018 05/21/2018 50,000,000.00 50,000,000.00 MIZUHO BANK LTD/NY 60700AML5 1.77% 01/29/2018 05/29/2018 05/29/2018 20,000,000.00 20,000,000.00 NORINCHUKIN BANK NY 65602UUE6 1.68% 01/22/2018 02/20/2018 02/20/2018 10,000,000.00 10,000,157.79 NORINCHUKIN BANK NY 65602UWX2 1.50% 04/09/2018 04/09/2018 04/09/2018 25,000,000.00 25,000,000.00 NORINCHUKIN BANK NY 65602UXJ2 1.72% 01/25/2018 04/25/2018 04/25/2018 25,000,000.00 25,000,000.00 Page 3
Yield to NORINCHUKIN BANK NY 65602UYD4 1.60% 05/08/2018 05/08/2018 05/08/2018 50,000,000.00 50,000,000.00 ROYAL BANK OF CANADA NY 78009NW36 1.53% 01/05/2018 04/05/2018 04/05/2018 40,000,000.00 40,000,000.00 ROYAL BANK OF CANADA NY 78009N2R6 1.61% 01/10/2018 07/10/2018 07/10/2018 50,000,000.00 50,000,000.00 SOCIETE GENERALE 83369YYC4 1.75% 01/31/2018 05/31/2018 05/31/2018 22,000,000.00 22,000,000.00 SOCIETE GENERALE NY 83369YUC8 1.43% 01/31/2018 01/31/2018 01/31/2018 93,000,000.00 93,000,000.00 SOCIETE GENERALE NY 83369YTW6 1.41% 01/31/2018 01/31/2018 01/31/2018 10,000,000.00 10,000,000.00 SUMITOMO MITSUI BANK NY 86563YXV0 1.67% 01/16/2018 01/16/2018 01/16/2018 50,000,000.00 50,000,000.00 SUMITOMO MITSUI BANK NY 86563YZK2 1.58% 01/05/2018 02/05/2018 02/05/2018 25,000,000.00 25,000,000.00 SUMITOMO MITSUI BANK NY 86563YS46 1.62% 01/11/2018 04/11/2018 04/11/2018 10,000,000.00 10,000,000.00 SUMITOMO MITSUI BANK NY 86563YW90 1.70% 01/16/2018 05/16/2018 05/16/2018 25,000,000.00 25,000,000.00 SVENSKA HANDELSBANKEN NY 86958JRK7 1.61% 01/16/2018 02/16/2018 02/16/2018 25,000,000.00 25,000,000.00 SVENSKA HANDELSBANKEN NY 86958JSY6 1.50% 01/03/2018 04/03/2018 04/03/2018 50,000,000.00 50,000,000.00 SVENSKA HANDELSBANKEN NY 86958JSE0 1.52% 01/02/2018 05/02/2018 05/02/2018 35,000,000.00 35,000,000.00 TORONTO DOMINION BANK NY 89113XBW3 1.41% 02/23/2018 02/23/2018 02/23/2018 10,000,000.00 10,000,000.00 TORONTO DOMINION BANK NY 89113XBC7 1.41% 02/23/2018 02/23/2018 02/23/2018 50,000,000.00 50,000,000.00 TORONTO DOMINION BANK NY 89113XRM8 1.62% 03/20/2018 03/20/2018 03/20/2018 15,000,000.00 15,000,000.00 TORONTO DOMINION BANK NY 89113XKS2 1.55% 04/24/2018 04/24/2018 04/24/2018 50,000,000.00 50,000,000.00 UBS AG STAMFORD CT 90275DGR5 1.76% 01/22/2018 05/21/2018 05/21/2018 20,000,000.00 20,007,507.40 US BANK NA CINCINNATI 90333VUQ1 1.49% 03/20/2018 03/20/2018 03/20/2018 12,000,000.00 11,997,629.65 WELLS FARGO BANK NA 94989RGL6 1.67% 02/06/2018 02/06/2018 02/06/2018 30,000,000.00 30,000,000.00 WELLS FARGO BANK NA 94989RJC3 1.84% 03/29/2018 03/29/2018 03/29/2018 20,000,000.00 20,000,000.00 WELLS FARGO BANK NA 94989RTS7 1.72% 01/29/2018 06/11/2018 06/11/2018 40,000,000.00 40,000,000.00 WELLS FARGO BANK NA 94989RUU0 1.60% 01/08/2018 09/07/2018 09/07/2018 30,000,000.00 30,000,000.00 WESTPAC BANKING CORP NY 96121T5F1 1.66% 02/20/2018 02/20/2018 02/20/2018 27,000,000.00 27,000,000.00 WESTPAC BANKING CORP NY 96121T3G1 1.49% 01/12/2018 04/12/2018 04/12/2018 50,000,000.00 50,000,000.00 2,025,575,000.00 2,025,597,145.33 Portfolio Totals 3,557,953,090.00 3,555,845,335.24 Page 4
The Fund's Weighted Average and Weighted Average Life as of the reporting date are 38 and 83 days, respectively. The maturity date used to calculate weighted-average maturity (WAM) under GASB 79. This takes into account the maturity shortening provisions of GASB 79 regarding demand features and interest rate adjustments. The maturity date used to calculate weighted-average life (WAL) under GASB 79. This takes into account the maturity shortening provisions of GASB 79 regarding demand features without reference to interest rate adjustments. The ultimate legal maturity date on which, in accordance with the terms of the security, and without reference to the maturity shortening provisions of GASB 79, the principal amount must unconditionally be paid. The value in accordance with GASB 79. Unless otherwise noted, the fund utilizes the amortized cost method to value portfolio securities. Adjustable rate instrument. Rate shown is that which is in effect as of reporting date. This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the investment objectives, risks, charges and expenses before investing in the Virginia State Non-Arbitrage Program ( SNAP or the Program ). This and other information about the Program is available in the SNAP Information Statement, which should be read carefully before investing. A copy of the SNAP Information Statement may be obtained by calling 1-800-570-SNAP (7627) or is available on the Program s website at www.vasnap.com. While the seeks to maintain a stable net asset value of $1.00 per share, it is possible to lose money investing in the Program. An investment in the Program is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org ). PFM Fund Distributors, Inc. is a wholly owned subsidiary of PFM Asset Management LLC. Page 5