FEDERATED SHORT-TERM STERLING PRIME FUND Portfolio as of December 15, 2017 Current Net Assets -- 3,771,541,381 Weighted Average M aturity: 148 Days Weighted Average Life: 70 Days Credit Rating: AAAm STANDARD & POOR'S AAAmmf FITCH Principal Amount CERTIFICATE OF DEPOSIT - 32.0% 9,000,000 GB00BDXDMW29 8,977,597 8/3/2018 8/3/2018 Certificate of Deposit Australia & New Zealand Banking Group, Melbourne, 0.400% 5,500,000 Australia & New Zealand Banking Group, Melbourne, 0.420% GB00BDXC2T61 5,500,598 4/30/2018 4/30/2018 Certificate of Deposit 60,000,000 BNP Paribas Fortis SA/NV, 0.320% BE6298656586 59,991,065 1/4/2018 1/4/2018 Certificate of Deposit 25,000,000 Bank of America N.A., 0.330% GB00BDXF2H35 25,000,000 3/1/2018 3/1/2018 Certificate of Deposit 24,000,000 Bank of America N.A., 0.340% GB00BDXF3V44 24,000,000 3/5/2018 3/5/2018 Certificate of Deposit 15,000,000 Bank of America N.A., 0.340% GB00BDXF7F65 15,000,000 3/12/2018 3/12/2018 Certificate of Deposit 40,000,000 Bank of America N.A., 0.360% GB00BDXDF013 40,000,000 1/22/2018 1/22/2018 Certificate of Deposit 10,000,000 Bank of America N.A., 0.560% GB00BDXGN739 10,000,000 6/7/2018 6/7/2018 Certificate of Deposit 125,000,000 Bank of Tokyo-Mitsubishi UFJ Ltd., 0.490% GB00BDXG1B30 125,000,000 1/5/2018 1/5/2018 Certificate of Deposit 25,000,000 Canadian Imperial Bank of Commerce, 0.500% GB00BDXFCL71 25,000,000 9/14/2018 9/14/2018 Certificate of Deposit 20,000,000 DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.310% GB00BDXCYX41 20,000,000 12/20/2017 12/20/2017 Certificate of Deposit 50,000,000 DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.500% GB00BDXGQV80 50,000,000 6/11/2018 6/11/2018 Certificate of Deposit 50,000,000 DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.550% GB00BDXFYB10 50,000,000 5/3/2018 5/3/2018 Certificate of Deposit 30,000,000 DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.560% GB00BDXG5995 30,000,000 5/9/2018 5/9/2018 Certificate of Deposit 100,000,000 ING Bank N.V., 0.500% GB00BDXGN390 100,000,000 3/6/2018 3/6/2018 Certificate of Deposit 7,000,000 Mizuho Bank Ltd., 0.510% XS1717208778 7,000,000 2/9/2018 2/9/2018 Certificate of Deposit 30,000,000 Nordea Bank AB, 0.310% GB00BDXDNV86 30,000,000 2/5/2018 2/5/2018 Certificate of Deposit 20,000,000 Nordea Bank AB, 0.320% XS1651671809 19,993,873 1/22/2018 1/22/2018 Certificate of Deposit 65,000,000 Nordea Bank AB, 0.550% GB00BDXFZ743 65,000,000 5/3/2018 5/3/2018 Certificate of Deposit 28,000,000 Societe Generale, Paris, 0.460% GB00BDXFSJ77 28,000,000 2/9/2018 2/9/2018 Certificate of Deposit 23,000,000 Sumitomo Mitsui Banking Corp., 0.500% BE6298949601 22,993,074 1/9/2018 1/9/2018 Certificate of Deposit 40,000,000 Sumitomo Mitsui Banking Corp., 0.500% GB00BDXG1H91 40,000,000 1/5/2018 1/5/2018 Certificate of Deposit 100,000,000 Sumitomo Mitsui Banking Corp., 0.510% GB00BDXFZ073 100,000,000 1/2/2018 1/2/2018 Certificate of Deposit 40,000,000 Sumitomo Mitsui Trust Bank Ltd., 0.530% GB00BDXGN176 40,000,000 4/6/2018 4/6/2018 Certificate of Deposit 50,000,000 Svenska Handelsbanken, Stockholm, 0.300% GB00BDXDS131 50,000,000 2/12/2018 2/12/2018 Certificate of Deposit 5,500,000 Toronto Dominion Bank, 0.380% GB00BXRHBW30 5,501,665 3/29/2018 3/29/2018 Certificate of Deposit 10,000,000 Toronto Dominion Bank, 0.510% XS1547369485 10,000,000 1/3/2018 1/3/2018 Certificate of Deposit FSSPF - 1
30,000,000 Toronto Dominion Bank, 0.620% GB00BDXFKY68 30,000,000 10/3/2018 10/3/2018 Certificate of Deposit 20,000,000 Toronto Dominion Bank, 0.700% GB00BDXGKV60 20,000,000 12/3/2018 12/3/2018 Certificate of Deposit 40,000,000 Wells Fargo Bank International, 0.350% GB00BDXF6G08 40,000,000 3/7/2018 3/7/2018 Certificate of Deposit 25,000,000 Wells Fargo Bank International, 0.360% GB00BDXDLM55 25,000,000 2/5/2018 2/5/2018 Certificate of Deposit 40,000,000 Wells Fargo Bank International, 0.550% GB00BDXFWZ14 40,000,000 5/2/2018 5/2/2018 Certificate of Deposit 20,000,000 Wells Fargo Bank International, 0.560% GB00BDXGL790 20,000,000 6/4/2018 6/4/2018 Certificate of Deposit 25,000,000 Wells Fargo Bank International, 0.580% GB00BDXG4G99 25,000,000 5/10/2018 5/10/2018 Certificate of Deposit TOTAL CERTIFICATE OF DEPOSIT 1,206,957,872 COMMERCIAL PAPER - 19.6% (6) 30,000,000 Agence Centrale des Organismes de Securite Sociale, 0.240% XS1669215979 30,000,000 12/18/2017 12/18/2017 Non-Financial Company Commercial Paper 50,000,000 Agence Centrale des Organismes de Securite Sociale, 0.315% XS1645517175 49,990,953 1/8/2018 1/8/2018 Non-Financial Company Commercial Paper 19,000,000 Agence Centrale des Organismes de Securite Sociale, 0.460% XS1686551349 18,981,113 3/7/2018 3/7/2018 Non-Financial Company Commercial Paper 27,000,000 Albion Capital Corp. S.A.,(Bank of Tokyo-Mitsubishi UFJ Ltd. LIQ), 0.500% XS1722569024 26,999,261 12/20/2017 12/20/2017 Asset Backed Commercial Paper 5,015,000 Albion Capital Corp. S.A.,(Bank of Tokyo-Mitsubishi UFJ Ltd. LIQ), 0.500% XS1727359678 5,014,382 12/27/2017 12/27/2017 Asset Backed Commercial Paper 30,000,000 Caisse des Depots et Consignations (CDC), 0.265% FR0124459084 29,985,426 2/23/2018 2/23/2018 Non-Financial Company Commercial Paper 20,000,000 Collateralized Commercial Paper III Co. LLC,(J.P. Morgan Securities plc Support Agreement), 0.390% XS1667015629 19,987,630 2/14/2018 2/14/2018 Asset Backed Commercial Paper 20,000,000 Collateralized Commercial Paper III Co. LLC,(J.P. Morgan Securities plc Support Agreement), 0.400% XS1646508124 19,994,969 1/10/2018 1/10/2018 Asset Backed Commercial Paper 45,000,000 Collateralized Commercial Paper III Co. LLC,(J.P. Morgan Securities plc Support Agreement), 0.580% XS1733220385 44,879,502 6/5/2018 6/5/2018 Asset Backed Commercial Paper 45,000,000 Collateralized Commercial Paper III Co. LLC,(J.P. Morgan Securities plc Support Agreement), 0.580% XS1736502300 44,874,511 6/12/2018 6/12/2018 Asset Backed Commercial Paper 20,000,000 Collateralized Commercial Paper III Co. LLC,(J.P. Morgan Securities plc Support Agreement), 0.600% XS1717124835 19,953,454 5/9/2018 5/9/2018 Asset Backed Commercial Paper 25,000,000 Credit Industriel et Commercial, 0.280% FR0124586738 24,996,934 1/3/2018 1/3/2018 Financial Company Commercial Paper 28,000,000 Erste Abwicklungsanstalt, 0.250% XS1679529849 27,985,251 3/5/2018 3/5/2018 Non-Financial Company Commercial Paper 25,000,000 Honda Finance Europe plc,(honda Motor Co., Ltd. Support Agreement), 0.600% XS1729862349 24,933,622 5/29/2018 5/29/2018 Financial Company Commercial Paper 100,000,000 LMA S.A.,(Credit Agricole Corporate and Investment Bank LIQ), 0.500% XS1716815532 99,975,362 1/5/2018 1/5/2018 Asset Backed Commercial Paper 25,000,000 LMA S.A.,(Credit Agricole Corporate and Investment Bank LIQ), 0.500% XS1718737544 24,992,814 1/8/2018 1/8/2018 Asset Backed Commercial Paper 15,000,000 LMA S.A.,(Credit Agricole Corporate and Investment Bank LIQ), 0.500% XS1719984848 14,994,867 1/12/2018 1/12/2018 Asset Backed Commercial Paper 20,000,000 Matchpoint Finance PLC,(BNP Paribas SA LIQ), 0.550% XS1730890230 19,978,030 3/1/2018 3/1/2018 Asset Backed Commercial Paper 15,000,000 Nordea Bank AB, 0.305% XS1670632840 14,991,864 2/21/2018 2/21/2018 Financial Company Commercial Paper 500,000 OP Corporate Bank plc, 0.300% XS1679783396 499,926 1/5/2018 1/5/2018 Financial Company Commercial Paper 10,500,000 OP Corporate Bank plc, 0.330% XS1669196146 10,493,935 2/20/2018 2/20/2018 Financial Company Commercial Paper 15,000,000 OP Corporate Bank plc, 0.390% XS1645683340 14,996,641 1/8/2018 1/8/2018 Financial Company Commercial Paper 18,750,000 OP Corporate Bank plc, 0.520% XS1697542840 18,720,959 4/6/2018 4/6/2018 Financial Company Commercial Paper 10,000,000 OP Corporate Bank plc, 0.520% XS1709282963 9,986,068 3/26/2018 3/26/2018 Financial Company Commercial Paper 20,500,000 OP Corporate Bank plc, 0.610% XS1715570203 20,451,840 5/8/2018 5/8/2018 Financial Company Commercial Paper 23,000,000 Toyota Finance Australia Ltd.,(Toyota Motor Corp. Support Agreement), 0.280% XS1678874063 22,987,314 2/28/2018 2/28/2018 Financial Company Commercial Paper 27,000,000 Toyota Kreditbank GmbH,(Toyota Motor Corp. Support Agreement), 0.315% XS1659808759 26,995,113 1/8/2018 1/8/2018 Financial Company Commercial Paper 16,000,000 Toyota Kreditbank GmbH,(Toyota Motor Corp. Support Agreement), 0.330% XS1663202080 15,992,346 2/9/2018 2/9/2018 Financial Company Commercial Paper 25,000,000 Toyota Kreditbank GmbH,(Toyota Motor Corp. Support Agreement), 0.500% XS1740239485 24,937,826 6/19/2018 6/19/2018 Financial Company Commercial Paper FSSPF - 2
10,000,000 Unilever N.V., 0.500% XS1733243759 9,976,770 6/6/2018 6/6/2018 Non-Financial Company Commercial Paper TOTAL COMMERCIAL PAPER 739,548,683 CORPORATE NOTES - 0.4% 14,003,000 BMW Finance N.V.,(GTD by Bayerische Motoren Werke AG), 3.375% XS0739933421 14,357,904 12/14/2018 12/14/2018 Other Instrument TOTAL CORPORATE NOTES 14,357,904 NOTES - VARIABLE - 27.6% 5,150,000 (5) ASB Finance Ltd.,(GTD by ASB Bank Ltd.), 0.951% XS1224597648 5,157,491 2/1/2018 5/1/2018 Other Instrument 21,783,673 (5) Australia & New Zealand Banking Group, Melbourne, 0.539% AUNZ05190 21,783,673 1/16/2018 11/10/2037 Certificate of Deposit 10,000,000 (5) BMW Finance N.V., 0.581% XS1551070060 10,000,775 1/18/2018 1/18/2018 Other Instrument 30,000,000 (5) BMW International Investment B.V., 0.642% XS1730911507 30,000,000 3/5/2018 12/5/2018 Other Instrument 52,205 (5) BNP Paribas SA, 0.160% GBPF53681 52,205 12/18/2017 Certificate of Deposit 25,000,000 (5) Bank of Montreal, 0.536% XS1556039920 25,000,000 1/26/2018 1/26/2018 Other Instrument 600,000 (5) Bank of Montreal, 0.874% XS1512730174 600,656 2/5/2018 5/3/2018 Other Instrument 30,000,000 (5) Canadian Imperial Bank of Commerce, 0.560% XS1735831098 30,000,000 3/14/2018 12/14/2018 Other Instrument 20,000,000 (5) Commonwealth Bank of Australia, 0.669% GB00BDXBQV36 20,000,000 1/4/2018 4/4/2018 Certificate of Deposit 30,000,000 (5) Commonwealth Bank of Australia, 0.678% GB00BXRGHD38 30,000,000 1/8/2018 2/6/2018 Certificate of Deposit 50,000,000 (5) Commonwealth Bank of Australia, 0.689% GB00BXRGGG93 50,000,000 1/3/2018 2/5/2018 Certificate of Deposit 376,716,615 (5) Lloyds Bank plc, London, 0.470% GBF538937 376,716,615 12/18/2017 Certificate of Deposit 50,000,000 (5) National Australia Bank Ltd., Melbourne, 0.658% GB00BDXBSP16 50,000,000 1/8/2018 4/6/2018 Certificate of Deposit 30,000,000 (5) Royal Bank of Canada, 0.461% XS1602573260 30,000,000 1/26/2018 4/26/2018 Other Instrument 62,000,000 (5) Royal Bank of Canada, 0.503% XS1551747816 61,999,936 1/19/2018 1/19/2018 Other Instrument 25,000,000 (5) Royal Bank of Canada, 0.586% XS1665389398 25,000,000 2/16/2018 8/16/2018 Other Instrument 30,000,000 (5) Royal Bank of Canada, 0.590% XS1629740504 30,000,000 3/13/2018 6/13/2018 Other Instrument 5,350,000 (5) Royal Bank of Canada, 1.063% XS1304474221 5,375,817 1/9/2018 10/9/2018 Other Instrument 50,000,000 (5) Santander UK PLC, 0.750% F50067ZZ7 50,000,000 1/15/2018 1/15/2018 Certificate of Deposit 30,000,000 (5) Toronto Dominion Bank, 0.451% XS1596869732 30,000,000 1/12/2018 4/12/2018 Other Instrument 40,000,000 (5) Toronto Dominion Bank, 0.548% XS1682438129 40,000,000 1/8/2018 9/7/2018 Certificate of Deposit 20,000,000 (5) Toronto Dominion Bank, 0.568% XS1699731649 20,000,000 1/10/2018 10/10/2018 Certificate of Deposit 25,000,000 (5) Toyota Finance Australia Ltd.,(Toyota Motor Corp. Support Agreement), 0.430% XS1598037320 24,997,616 1/15/2018 4/13/2018 Other Instrument 10,000,000 (5) Toyota Motor Finance (Netherlands) B.V., 0.583% XS1722899249 10,000,000 12/25/2017 12/17/2018 Other Instrument 30,000,000 (5) Toyota Motor Finance (Netherlands) B.V.,(Toyota Motor Corp. Support Agreement), 0.519% XS1541013220 30,000,000 1/17/2018 1/17/2018 Other Instrument 97,830 (5) Wells Fargo Bank International, 0.150% GBF368822 97,830 12/18/2017 Certificate of Deposit 7,500,000 (5) Westpac Banking Corp. Ltd., Sydney, 0.411% XS1591583734 7,499,553 1/5/2018 4/5/2018 Other Instrument 25,000,000 (5) Westpac Banking Corp. Ltd., Sydney, 0.545% XS1686698959 25,000,000 12/20/2017 9/20/2018 Other Instrument TOTAL NOTES - VARIABLE 1,039,282,168 TIME DEPOSIT - 18.4% 365,645,000 Mizuho Bank Ltd., 0.460% 365,645,000 12/18/2017 12/18/2017 Non-Negotiable Time Deposit 330,000,000 Sumitomo Mitsui Trust Bank Ltd., 0.460% 330,000,000 12/18/2017 12/18/2017 Non-Negotiable Time Deposit TOTAL TIME DEPOSIT 695,645,000 TOTAL INVESTMENTS 3,695,791,626 Includes the name of issuer and coupon or yield of the security. FSSPF - 3
(2) date as determined under Rule 2a-7(d) for purposes of calculating the portfolio's Weighted Average (3) The date on which the fund has an unconditional right to payment of the full principal amount of and any remaining interest on the security. (4) Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. (5) Floating rate notes with current rate shown. The categories of investments are shown as a percentage of net assets ( 3,771,541,381) at the close of business on December 15,2017, and may not necessarily reflect adjustments that are routinely made when presenting net assets for formal financial statement purposes. Where appropriate, the following acronyms may be used throughout this portfolio: CP --Commercial Paper EDA --Economic Development Authority EDC --Economic Development Commission EDFA --Economic Development Financing Authority GTD --Guaranteed HFA --Housing Finance Authority HFDC --Health Facility Development Corporation IDA --Industrial Development Authority IDB --Industrial Development Bond IDRB --Industrial Development Revenue Bond LLC --Limited Liability Corporation LOC --Letter of Credit LP --Limited Partnership MFH --Multi-Family Housing Investment funds have risks including possible loss of principal. Although the Fund attempts to maintain a stable net asset value, there is no guarantee it will be able to do so. The value of the Fund may be affected by the creditworthiness of the issuers of the debt instruments the Fund invests in and may also be affected by substantial adverse movements in interest rates Portfolio holdings are shown as of the date indicated and are unaudited. Since market conditions fluctuate suddenly and frequently, the portfolio holdings may change and this list is not indicative of future portfolio composition. We do not give any undertaking or make any representation or warranty, express or implied, that the material in this document is complete, accurate or error free, and the material must not be relied upon as such. This document is produced for information purposes only. These portfolio holdings are not intended to be and do not constitute a recommendation that others buy, sell, or hold any of the securities listed. Information herein may not be distributed to any third party. FSSPF - 4
Federated Cash Management Funds (the "Scheme") is an investment company with variable capital incorporated in England and Wales. The Scheme comprises a number of sub-funds including the Fund. The authorised corporate director of the Scheme is Federated Investors (UK) LLP (the "ACD"). The Scheme is authorised in the UK and regulated Financial Conduct Authority. The ACD is authorised and regulated by the Financial Conduct Authority. For more complete information on the fund, please call your investment representative for a prospectus, semiannual and annual report. You should consider the fund's investment objectives, risks, charges and expenses carefully before you invest. Information about these and other important subjects is in the fund's prospectus, which you should read carefully before investing. A money market fund rated AAAm by Standard & Poor's is granted after evaluating a number of factors, including credit quality, market price exposure, and management. Fitch's money market fund ratings are an assessment of a money market fund's capacity to preserve principal and provide liquidity through limiting credit, market and liquidity risk.ratings are subject to change and do not remove market risk. Federated Investment (UK) LLP (31440) 12/15/2017 FSSPF - 5