administration report

ADMINISTRATION REPORT MAY 13, 2021

15

STATEMENT OF NET ASSETS (UNAUDITED)

03/31/21 04/30/21 08/31/21 11/30/21 YeartoDate

AssetsInvestments in securities

U.S. Government Agencies $41,326,856 $0

U.S. Treasuries 29,845,990

Insured Cash Sweep

Wells Fargo Government Sweep 2,092,588

Letter of Credit Bank Deposits 27,042,493

Repurchase Agreement 36,000,000

Total investment in securities $136,307,927 $0 $0 $0

Cash and cash equivalents

Other assets

Accrued interest 157,795 0 0

Total Assets $136,465,722 $0 $0 $0

LiabilitiesAccrued expenses 4,226

Payable for Investments Purchased 999,949

Net assets applicable to shares outstanding $135,461,547 $0 $0 $0

STATEMENT OF OPERATIONS (UNAUDITED)Gross Investment Income $31,078 $0 $0 $0 $0

ExpensesAdministration Fees 46,598

Waiver Administration Fees (39,840)

Investment Advisory Fees 29,956

Waiver Investment Advisory Fees (25,611)

Marketing Fees 33,778

Waiver Marketing Fees (28,906)

Custody 8,310

SDFIT Administration Expenses 3,480

Audit

Trustee Fees

Sponsorship 16,642

Waiver Sponsorship (16,642) 0

Total Expenses $27,765 $0 $0 $0 $0

Net Investment Income $3,313 $0 $0 $0 $0

STATEMENT OF CHANGES IN NET ASSETS (UNAUDITED)Shares Purchased $19,198,325 $0 $0 $0 $0

Shares Redeemed (36,764,563) 0

Net Change in Share Transactions (17,566,238) (17,566,238)

Investment activities:

Net Investment Income 3,313 3,313

Net increase in net assets from share operations 3,313 3,313

Distributions to participants from net investment income (3,313) (3,313)

Net Change in Assets (17,562,925) (17,562,925)

Net Assets at Beginning of Period $153,024,472 $135,461,547 $135,461,547 $135,461,547 $153,024,472

Net Assets at End of Period $135,461,547 $135,461,547 $135,461,547 $135,461,547 $135,461,547

SOUTH DAKOTA PUBLIC FUNDS INVESTMENT TRUSTGOVERNMENT CASH RESERVE

For the Period Ending

16

CASH DISBURSEMENTS 120120 TO 033121

Check

Date Number Payee Reference Amount Admin. Advisor Audit Marketing Sponsorship Custodian Cash Mgt Trustee

Fund Expenses

12/07/20 Wells Fargo September 2020 Fees 1,772.67 1,772.67

12/01/20 PMA November 2020 Fees 11,187.59 6,809.80 4,377.79

12/01/20 SD Municipal League November 2020 Fees 4,930.12 4,930.12

12/14/20 Wells Fargo November 2020 Fees 725.06 725.06

12/28/20 Wells Fargo October 2020 Fees 1,910.12 1,910.12

01/01/21 PMA December 2020 Fees 8,973.11 5,461.90 3,511.21

01/01/21 SD Municipal League December 2020 Fees 3,898.74 3,898.74

01/12/21 Wells Fargo December 2020 Fees 645.98 645.98

01/26/21 Wells Fargo November 2020 Fees 1,933.40 1,933.40

02/01/21 PMA January 2020 Fees 7,723.24 4,701.10 3,022.14

02/01/21 SD Municipal League January 2020 Fees 3,366.64 3,366.64

02/11/21 Wells Fargo January 2020 Fees 536.30 536.30

02/19/21 Wells Fargo December 2020 Fees 4,263.53 4,263.53

03/01/21 PMA February 2020 Fees 3,315.82 2,018.30 1,297.52

03/01/21 SD Municipal League February 2020 Fees 1,467.30 1,467.30

03/11/21 Wells Fargo February 2020 Fees 437.00 437.00

03/23/21 Wells Fargo January 2020 Fees 3,601.99 3,601.99

SDFIT Administration

02/18/21 SD Municipal Leagure Marketing Reimbursement 2,586.58$ $ $ $ 2,586.58$ $ $ $

Total 33,776.52$ 6,719.40$ 4,319.66$ $ 11,319.26$ $ 9,798.92$ 1,619.28$ $

SOUTH DAKOTA PUBLIC FUNDS INVESTMENT TRUST

GOVERNMENT CASH RESERVE

17

Proposed

2021 Actual

Budget 03/31/21

Prior period balance carried forward: $22,000.00 $22,288.82

Revenue

Administration Fund Accrual 10,950.00 3,600.00

Administration Fund Interest 3.60 0.89

$10,953.60 $3,600.89

Board of Trustees meetings and expense reimbursements $3,500.00 2,586.58

Legal Frieberg, Rudolph & Nelson, L.L.P 1,000.00

Audit Eide Bailly 15,225.00

Audit Tax Filing Eide Bailly 875.00

D&O Insurance 4,000.00

SDML marketing reimbursement:

Booth rental 900.00

Convention sponsorships

Trust Materials 250.00

Postage 400.00

$26,150.00 $2,586.58

Ending Balance before reserve $6,803.60 $23,303.13

Less: D&O Insurance Deductible Reserve $5,000.00 $5,000.00

Ending Available Balance $1,803.60 $18,303.13

Expenses


SDFIT Administration Fund Budget

18

22,144,560 16% Associated School Boards Protective Trust 157,419 0% Three Rivers Special Services COOP

10,607,739 8% City of Sisseton 139,990 0% Town of Volin

9,896,150 7% City of Pierre 137,709 0% City of Hot Springs

7,913,480 6% City of Spearfish 137,602 0% Town of Hermosa

6,131,167 5% City of Sioux Falls 126,038 0% McIntosh School District

5,616,330 4% Bennett County School District 116,727 0% City of Big Stone City

4,897,611 4% LeadDeadwood School District 115,084 0% Town of Wentworth

4,600,248 3% Harrisburg School District 100,001 0% Belle Fourche School District

3,658,780 3% Douglas School District 90,045 0% City of Gregory

3,550,213 3% Rapid City Area School Distr 85,040 0% Taopi Township of Minnehaha County

3,126,720 2% Harding County School District 84,303 0% Town of Wolsey

3,126,220 2% Meade School District 68,519 0% Town of Trent

2,782,304 2% City of Madison 60,128 0% City of Springfield

2,776,110 2% Waubay School District 53,024 0% City of Roscoe

2,604,230 2% City of Harrisburg 50,004 0% City of Colman

2,603,923 2% Corson County 47,347 0% City of Burke

2,442,066 2% Elk PointJefferson School District 44,434 0% Town of Revillo

2,424,053 2% Menno School District 43,302 0% County of Lincoln

2,244,856 2% City of Onida 40,796 0% Pleasant Township of Lincoln County

1,987,787 1% Faith School District 39,415 0% Town of Bushnell

1,945,484 1% City of Vermillion 37,403 0% Town of La Bolt

1,767,046 1% Flandreau Public School District 24,925 0% East Dakota Educational Cooperative

1,766,527 1% TM Rural Water District 23,303 0% SDFIT Administration

1,670,293 1% Hot Springs School District 21,826 0% Town of Henry

1,554,728 1% City of Groton 19,992 0% City of Doland

1,435,498 1% Leola School District 17,610 0% City of New Underwood

1,435,485 1% PlatteGeddes Comm Sch Distr 17,507 0% Town of Morristown

1,400,298 1% City of Mobridge 13,979 0% City of Columbia

1,269,851 1% Webster Area School District 11,409 0% Town of Fruitdale

1,122,280 1% Mitchell School District 11,263 0% City of Redfield

1,094,999 1% Hanson School District 9,092 0% Faulkton Area Schools District 244

1,030,619 1% Northwestern Area School Dist 7,839 0% Howard School District

1,029,328 1% Black Hills Educational Benefits Cooperative 7,802 0% Town of Herrick

985,271 1% Spearfish School District 7,254 0% Codington County

832,558 1% City of North Sioux City 6,256 0% Stanley County

779,151 1% Frederick Area School District 5,873 0% Dupree School District

593,380 0% City of Baltic 4,090 0% Hartford Township

584,893 0% City of Elk Point 4,030 0% Town of Letcher

520,418 0% Custer County 3,861 0% City of Lead

483,964 0% City of Vermillion 3,690 0% City of Kimball

462,857 0% City of Beresford 3,300 0% Perkins County Conservation District

438,163 0% Parker School District 2,345 0% City of Waubay

414,272 0% Lyman School District 1,269 0% City of Crooks

404,031 0% Beresford School District 1,230 0% Town of Egan

366,423 0% City of Mitchell 848 0% Town of Nisland

304,509 0% Waverly School District 536 0% Lower James River Water Project Dist

282,281 0% City of Hecla 269 0% City of Brookings

272,345 0% City of Canton 60 0% City of Belle Fourche

267,934 0% City of Hosmer 8 0% Edmunds Central School District

259,368 0% CorsicaStickney School Dist 2 0% Garretson School District

256,174 0% City of Custer City 1 0% Aberdeen School District

248,486 0% White Lake School District 1 0% City of Howard

236,743 0% City of Gettysburg 1 0% City of Sturgis

236,377 0% Town of Akaska

233,468 0% Jones County School District

169,901 0% Rapid Valley Sanitary DistWtr Serv

165,798 0% City of Mission

Total 135,461,549

Average 1,231,469

Median 201,685

Count 110


PARTICIPANTS WITH A BALANCE INCLUDING PERCENT OF POOL OWNERSHIP AS OF 03/31/21

19

Madison Central School Distr County of MinerTown of Camp Crook Northwest Area SchoolsSpink County Treasurer Oelrichs School DistrictWarner School District Perkins CountyCity of Aberdeen Pierre School DistrictAndes Central School District Town of QuinnSanborn Central School Dist City of Rapid CityCounty of Beadle Redfield School DistrictCounty of Bennett Sanborn CountyCity of Box Elder Sisseton School DistrictBrandon Valley School District Southeast Area CooperativeCity of Brandon Stanley County School DistrictBritton-Hecla School District City of TeaBrown County Treasurer Town of TorontoCanistota School District Tri-Valley School DistrictCastlewood School District Union CountyTown of Central City Vermillion School DistrictChester Area School District Walworth CountyCity of Clear Lake Watertown School DistrictCuster School District City of WatertownDakota Valley School District City of WhitewoodDavison County Woonsocket School DistrictCity of Deadwood Yankton School DistrictDell Rapids School District City of YanktonDell Rapids Twnshp of Minnehaha Cty Mellette CountyDeuel County City of TrippCounty of Edmunds City of Valley SpringsEureka School District Colman-Egan School DistrictCounty of Faulk City of Mission HillCity of Flandreau County of ClayTown of Florence City of WorthingCity of Fort Pierre City of CentervilleCounty of Grant City of MontroseGrant Township of Lincoln County City of GaryGrant-Deuel School District Cambria Township of Brown CountyHenry School District Chester Township of Lake CountyCity of Hill City AltamontCounty of Hughes City of IreneTown of Humboldt Spring Valley Township of McCook CountyCONSOLIDATED Hurley School Dist Liberty Township of Brown CountyHuron School District Shelby Township of Brown CountyCounty of Jerauld Dakota Dunes Community Improvement DistrKadoka Area School District City of CastlewoodTown of Keystone Town of GayvilleCounty of Lake Town of ChancellorLake Poinsett Sanitary District Kimball Ambulance DistrictCity of Lake Preston Marion School DistrictTown of Langford Union TownshipLead-Deadwood Sanitary District Langford Area School DistrictLennox School District Wagner Community SchoolMcCook Central School District City of CorsicaMilbank School District Ipswich Public School DistrictCity of Milbank City of WoodMina Lake Sanitary & Water District Doland School District


Non-Investing Participants AS OF 03/31/21

20


Non-Investing Participants AS OF 03/31/21Bridgewater Emery School DistrictHaakon School DistrictCity of Miller

21

May 4, 2021

TO: The Board of TrusteesSD FIT

RE: Compliance Review for SD FITDecember 1, 2020 – April 30, 2021

SD Public Funds Investment Trust (SD FIT)

We have reviewed the weekly portfolio holdings for the period of December 1, 2020 through April 30, 2021. No exceptions were noted during the period with respect to the portfolio’s full compliance with the Investment Policy of the Fund and the provisions of the Fund’s Indenture of Trust concerning permitted investments, mark-to-market of the portfolio and weighted average maturity.

Sincerely,

Paula CooperFund Administrator

Lori A. RagusGeneral Counsel and Chief Compliance Officer

22

MMEEMMOORRAANNDDUUMM

TTOO:: TThhee BBooaarrdd ooff TTrruusstteeeess SSDD FFIITT

FFRROOMM:: PPaauullaa CCooooppeerr,, FFuunndd AAddmmiinniissttrraattoorr LLoorrii AA.. RRaagguuss,, GGeenneerraall CCoouunnsseell aanndd CChhiieeff CCoommpplliiaannccee OOffffiicceerr

DDAATTEE:: MMaayy 44,, 22002211

RREE:: MMaarrkk--ttoo--MMaarrkkeett CCoommppaarriissoonn && AAvveerraaggee PPoorrttffoolliioo MMaattuurriittyy

Please find below the weekly Mark-to-Market Comparisons & Variances for the weeks ending December 3, 2020 through April 29, 2021 as well as the last business day of the end of the reporting period. On the following page, please find the daily Average Portfolio Maturity for December 1, 2020 through April 30, 2021.

MMaarrkk--ttoo--MMaarrkkeett CCoommppaarriissoonn && VVaarriiaannccee

Date

Amortized Cost

(Book Value) Market Value Percent Difference Maximum Allowable

Difference 12/03/20 $145,059,475 $145,065,968 0.004% +/-0.500%

12/10/20 $148,103,198 $148,109,263 0.004% +/-0.500%

12/17/20 $145,449,030 $145,454,693 0.004% +/-0.500%

12/24/20 $153,847,558 $153,851,673 0.003% +/-0.500%

12/31/20 $152,933,794 $152,939,352 0.004% +/-0.500%

01/07/21 $151,826,147 $151,829,095 0.002% +/-0.500%

01/14/21 $152,089,079 $152,091,803 0.002% +/-0.500%

01/21/21 $145,398,756 $145,401,843 0.002% +/-0.500%

01/28/21 $137,062,297 $137,067,666 0.004% +/-0.500%

02/04/21 $136,586,110 $136,593,281 0.005% +/-0.500%

02/11/21 $139,799,905 $139,806,357 0.005% +/-0.500%

02/18/21 $138,741,859 $138,750,001 0.006% +/-0.500%

02/25/21 $135,197,341 $135,202,510 0.004% +/-0.500%

03/04/21 $132,098,804 $132,101,100 0.002% +/-0.500%

03/11/21 $135,890,868 $135,894,253 0.002% +/-0.500% 23

03/18/21 $135,685,871 $135,690,138 0.003% +/-0.500%

03/25/21 $136,178,124 $136,180,888 0.002% +/-0.500%

04/01/21 $135,888,001 $135,890,619 0.002% +/-0.500%

04/08/21 $130,493,810 $130,497,658 0.003% +/-0.500%

04/15/21 $132,837,781 $132,841,601 0.003% +/-0.500%

04/22/21 $132,618,219 $132,621,712 0.003% +/-0.500%

04/29/21 $134,672,024 $134,676,487 0.003% +/-0.500%

EEnndd ooff RReeppoorrttiinngg PPeerriioodd:: MMaarrkk--ttoo--MMaarrkkeett CCoommppaarriissoonn && VVaarriiaannccee

04/30/21 $134,290,323 $134,295,311 0.004% +/-0.500%

24

Date WAM (Reset) WAM (Final) Date WAM (Reset) WAM (Final)12/01/20 33.04 41.24 02/02/21 38.38 46.6812/02/20 32.70 40.88 02/03/21 38.68 46.9912/03/20 32.35 40.52 02/04/21 40.38 48.3512/04/20 31.64 40.72 02/05/21 40.61 49.6012/07/20 32.38 40.24 02/08/21 37.78 46.0512/08/20 32.37 40.54 02/09/21 37.56 45.7812/09/20 33.20 41.26 02/10/21 37.11 45.3212/10/20 34.84 42.88 02/11/21 37.98 46.2212/11/20 39.33 47.95 02/12/21 38.84 47.8012/14/20 38.16 46.15 02/15/21 38.84 47.8012/15/20 39.48 47.50 02/16/21 37.05 44.8312/16/20 39.73 47.37 02/17/21 36.66 44.3512/17/20 39.39 46.93 02/18/21 38.64 46.3512/18/20 41.43 48.89 02/19/21 40.69 48.8812/21/20 39.39 46.41 02/22/21 38.64 46.3812/22/20 41.11 49.69 02/23/21 38.12 45.8412/23/20 41.97 50.53 02/24/21 38.47 46.1612/24/20 42.65 51.77 02/25/21 39.13 46.9212/25/20 42.65 51.77 02/26/21 40.04 48.1912/28/20 39.79 48.33 03/01/21 39.22 46.5012/29/20 40.05 48.53 03/02/21 40.49 47.6212/30/20 39.64 48.12 03/03/21 43.03 50.1812/31/20 40.39 49.44 03/04/21 43.99 51.2601/01/21 40.39 49.44 03/05/21 42.92 50.3901/04/21 37.69 46.21 03/08/21 43.96 50.8501/05/21 37.19 45.68 03/09/21 44.08 50.9701/06/21 36.75 45.24 03/10/21 45.51 52.3701/07/21 36.28 44.75 03/11/21 44.99 51.8401/08/21 38.36 47.18 03/12/21 44.68 51.9401/11/21 37.10 45.60 03/15/21 43.92 49.7701/12/21 37.01 45.24 03/16/21 45.18 50.5801/13/21 36.84 45.12 03/17/21 44.78 50.1901/14/21 36.91 45.17 03/18/21 44.98 50.3801/15/21 38.79 47.88 03/19/21 45.33 51.2301/18/21 38.79 47.88 03/22/21 43.72 49.0701/19/21 36.45 44.49 03/23/21 45.48 50.7601/20/21 35.94 43.96 03/24/21 48.61 53.9101/21/21 36.21 44.25 03/25/21 49.49 54.7901/22/21 36.61 45.03 03/26/21 49.82 55.5901/25/21 34.53 42.56 03/29/21 49.27 54.5501/26/21 35.95 43.89 03/30/21 49.45 54.7201/27/21 38.15 46.38 03/31/21 48.70 54.3901/28/21 38.46 46.85 04/01/21 49.56 55.2501/29/21 38.55 47.34 04/02/21 49.56 55.2502/01/21 36.53 44.84 04/05/21 47.58 52.9725

Date WAM (Reset) WAM (Final)04/06/21 47.42 52.8304/07/21 46.93 52.3304/08/21 48.92 54.4904/09/21 47.60 53.4204/12/21 45.65 50.8904/13/21 46.07 51.2304/14/21 45.75 50.9204/15/21 47.03 52.2804/16/21 47.67 53.1004/19/21 46.35 51.0704/20/21 45.82 50.5204/21/21 45.32 50.0004/22/21 45.12 49.8104/23/21 45.22 50.5104/26/21 44.42 49.0204/27/21 45.07 49.6204/28/21 45.23 49.7604/29/21 46.28 50.7704/30/21 47.31 52.36

26

Fund Portfolio AnalysisSchedule of Current Positions

3/31/2021 4:15:14 PM

Qty or Principal/Original Face

Print Date:

20000000 - SDFIT

Ticker/Security ID Original Cost Amortized CostCurrent

PriceCurrentValue

UnrealizedGain or Loss

Est.AnnualIncome

CurrentYield

Yld toMat

(*Call)% of Tot.Portfolio

% of Tot.Assets

% of NetAssets

All Money Values and Prices are Converted to Base Currency

Description/

Based on Posting Date Data As Of 3/31/2021

Bankstar Financial2,507,503.180 2,507,503.18 2,507,503.18 100.000000 2,507,503.18 0.2920.00 7,334.45 0.29 1.84 1.84 1.85

70019 70019-ICSFDIC ICS

FFCB275,000.000 279,251.50 276,235.34 100.479770 276,319.37 2.28984.03 6,325.00 0.03 0.20 0.20 0.20

3133ECSG 3133ECSG02.30% 06/17/21

FFCB1,020,000.000 1,028,976.63 1,023,495.77 100.363780 1,023,710.56 1.644214.79 16,830.00 0.01 0.75 0.75 0.76

3133EHNX 3133EHNX71.65% 06/21/2021

FFCB1,000,000.000 1,021,480.00 1,000,258.80 100.027640 1,000,276.40 2.53917.60 25,400.00 0.05 0.73 0.73 0.74

3133EJJD 3133EJJD22.54% 04/05/2021

FFCB1,000,000.000 1,007,060.00 1,002,380.70 100.238050 1,002,380.50 2.973-0.20 29,800.00 0.02 0.74 0.73 0.74

3133EJU7 3133EJU722.98% 04/30/2021

FFCB700,000.000 699,867.33 699,960.83 100.012500 700,087.50 0.106126.67 742.91 0.06 0.51 0.51 0.52

3133EJUF 3133EJUF4VR Due 07/16/2021

FFCB370,000.000 370,316.58 370,092.73 100.041790 370,154.62 0.21361.89 789.02 0.06 0.27 0.27 0.27

3133EK2M 3133EK2M7AFR DUE 07/09/21

FFCB750,000.000 760,200.00 759,359.14 101.242220 759,316.65 1.857-42.49 14,100.00 0.10 0.56 0.56 0.56

3133EKQN 3133EKQN91.88% DUE 12/13/2021

FFCB700,000.000 708,141.00 706,931.65 100.980000 706,860.00 1.584-71.65 11,200.00 0.07 0.52 0.52 0.52

3133ELAR 3133ELAR51.60% 11/22/2021

FFCB1,000,000.000 1,000,098.34 1,000,052.11 100.005760 1,000,057.60 0.1085.49 1,085.00 0.08 0.73 0.73 0.74

3133ELF3 3133ELF33AFR DUE 06/02/2021

FFCB500,000.000 499,960.00 499,986.67 100.005320 500,026.60 0.09039.93 452.50 0.06 0.37 0.37 0.37

3133ELPA 3133ELPA6AFR DUE 05/28/21

FFCB750,000.000 750,000.00 750,000.00 99.985930 749,894.47 0.086-105.53 645.98 0.11 0.55 0.55 0.55

3133EMEP 3133EMEP311/16/21

FHLB2,000,000.000 2,017,862.77 2,008,548.49 100.424820 2,008,496.40 2.240-52.09 45,000.00 0.06 1.47 1.47 1.48

3130A1W9 3130A1W952.25% 06/11/21

FHLB2,075,000.000 2,089,061.25 2,080,977.91 100.309530 2,081,422.75 1.122444.84 23,343.75 0.04 1.53 1.53 1.541.125% 07/14/2021

Page 1 of 627


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Print Date:

20000000 - SDFIT


PriceCurrentValue


Est.AnnualIncome

CurrentYield

Yld toMat


% of Tot.Assets

% of NetAssets


Description/


3130A8QS 3130A8QS5FHLB1,020,000.000 1,035,166.38 1,031,994.33 101.191380 1,032,152.08 1.853157.75 19,125.00 0.07 0.76 0.76 0.76

3130AABG 3130AABG21.875% 11/29/21

FHLB625,000.000 629,520.73 625,168.47 100.028020 625,175.13 1.7506.66 10,937.50 0.07 0.46 0.46 0.46

3130AB5A 3130AB5A01.75% 04/07/21

FHLB1,000,000.000 1,020,050.00 1,015,558.80 101.560200 1,015,602.00 2.95443.20 30,000.00 0.06 0.75 0.74 0.75

3130AF5B 3130AF5B93.0% 10/12/2021

FHLB530,000.000 536,063.76 532,481.79 100.484990 532,570.45 1.86688.66 9,937.50 0.06 0.39 0.39 0.39

3130AGLD 3130AGLD51.875% 07/07/2021

FHLB500,000.000 500,110.00 500,034.22 100.021820 500,109.10 0.08574.88 425.00 0.01 0.37 0.37 0.37

3130AGQA 3130AGQA607/08/2021

FHLB1,385,000.000 1,385,225.19 1,385,140.21 99.996430 1,384,950.56 0.089-189.65 1,230.99 0.10 1.02 1.01 1.02

3130AH3M 3130AH3M3AFR DUE 9/13/2021

FHLB750,000.000 758,242.50 757,354.85 100.989870 757,424.02 1.60969.17 12,187.50 0.06 0.56 0.56 0.56

3130AHJY 3130AHJY01.625% 11/19/2021

FHLB500,000.000 499,852.30 499,940.06 100.002630 500,013.15 0.08773.09 436.25 0.08 0.37 0.37 0.37

3130AJ2T 3130AJ2T5AFR 08/04/21

FHLB500,000.000 500,025.00 500,011.01 100.002310 500,011.55 0.1110.54 555.65 0.11 0.37 0.37 0.37

3130AJLZ 3130AJLZ0AFR 08/16/21

FHLB2,240,000.000 2,240,009.79 2,240,013.72 100.016550 2,240,370.72 0.125357.00 2,800.00 0.08 1.64 1.64 1.65

3130AJZ4 3130AJZ440.125% 08/20/21

FHLB500,000.000 500,000.00 500,000.00 100.010220 500,051.10 0.06551.10 325.00 0.04 0.37 0.37 0.37

3130AJZN 3130AJZN2AFR 08/25/2021

FHLB1,000,000.000 1,000,330.00 1,000,300.34 100.017690 1,000,176.90 0.125-123.44 1,250.00 0.08 0.73 0.73 0.74

3130AK5A 3130AK5A00.125% 09/10/21

FHLB500,000.000 500,051.96 500,015.44 100.011060 500,055.30 0.06039.86 300.00 0.01 0.37 0.37 0.37

3130AK5P 3130AK5P7AFR 06/14/21

FHLB1,000,000.000 1,000,050.00 1,000,035.79 100.033120 1,000,331.20 0.125295.41 1,250.00 0.07 0.73 0.73 0.74

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20000000 - SDFIT


PriceCurrentValue


Est.AnnualIncome

CurrentYield

Yld toMat


% of Tot.Assets

% of NetAssets


Description/


3130AKED 3130AKED40.125% 10/27/21

FHLB1,000,000.000 999,998.90 999,999.00 99.991990 999,919.90 0.020-79.10 200.00 0.06 0.73 0.73 0.74

3130ALT9 3130ALT950.02% 06/22/2021

FHLB1,000,000.000 999,982.80 999,983.08 99.985170 999,851.70 0.040-131.38 400.00 0.07 0.73 0.73 0.74

3130ALUP 3130ALUP70.04% 09/29/21

FHLB1,000,000.000 999,966.00 999,966.32 99.982670 999,826.70 0.040-139.62 400.00 0.07 0.73 0.73 0.74

3130ALVN 3130ALVN10.04% 10/29/21

FHLB1,000,000.000 1,009,640.00 1,006,913.54 100.686910 1,006,869.10 3.600-44.44 36,250.00 0.09 0.74 0.74 0.74

313373ZY 313373ZY13.625% 6/11/2021

FHLB1,500,000.000 1,499,873.13 1,499,916.88 99.998420 1,499,976.30 0.03659.42 532.66 0.01 1.10 1.10 1.11

313385GD 313385GD2Disc Note 05/28/2021

FHLB1,000,000.000 999,962.50 999,968.33 99.995780 999,957.80 0.015-10.53 152.10 0.02 0.73 0.73 0.74

313385GY 313385GY60% DUE 06/16/2021

FHLB750,000.000 749,773.96 749,825.00 99.981330 749,859.97 0.05134.97 380.46 0.04 0.55 0.55 0.55

313385LU 313385LU80% due 9/16/21

FHLMC500,000.000 510,800.00 509,010.47 101.799350 508,996.75 2.333-13.72 11,875.00 0.08 0.37 0.37 0.38

3137EADB 3137EADB22.375% 01/13/2022

FHLMC700,000.000 704,834.22 702,613.62 100.389990 702,729.93 1.121116.31 7,875.00 0.05 0.52 0.51 0.52

3137EAEC 3137EAEC91.125% 08/12/2021

First National Bank1,085,006.120 1,085,006.12 1,085,006.12 100.000000 1,085,006.12 0.0500.00 542.50 0.05 0.80 0.80 0.80

70005 70005-ICSOmaha FDIC ICS

FNMA2,563,000.000 2,569,693.25 2,566,042.39 100.116310 2,565,981.03 1.249-61.36 32,037.50 0.05 1.88 1.88 1.89

3135G0K6 3135G0K691.25% 05/06/21

FNMA970,000.000 985,209.60 984,051.25 101.436090 983,930.07 1.972-121.18 19,400.00 0.11 0.72 0.72 0.73

3135G0S3 3135G0S382.00% DUE 01/05/2022

FNMA500,000.000 510,740.00 500,360.00 100.081910 500,409.55 2.49849.55 12,500.00 0.04 0.37 0.37 0.37

3135G0U2 3135G0U272.5% 04/13/2021

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PriceCurrentValue


Est.AnnualIncome

CurrentYield

Yld toMat


% of Tot.Assets

% of NetAssets


Description/


FNMA2,000,000.000 2,024,942.84 2,012,064.41 100.606020 2,012,120.40 2.73355.99 55,000.00 0.06 1.48 1.47 1.49

3135G0U3 3135G0U352.75% 06/22/2021

FNMA1,500,000.000 1,530,521.12 1,529,687.78 101.980930 1,529,713.95 2.57426.17 39,375.00 0.08 1.12 1.12 1.13

3135G0U9 3135G0U922.625% 01/11/2022

FNMA1,000,000.000 1,000,126.38 1,000,124.44 100.009080 1,000,090.80 0.115-33.64 850.00 0.06 0.73 0.73 0.74

3135G0Z2 3135G0Z22AFR 06/04/2021

GREAT WESTERN BANK23,449,983.840 23,449,983.84 23,449,983.84 100.000000 23,449,983.84 0.1500.00 35,174.98 0.15 17.20 17.18 17.31

70008 70008-ICSFDIC ICS

State Street B&T36,000,000.000 36,000,000.00 36,000,000.00 100.000000 36,000,000.00 0.0000.00 0.00 0.00 26.41 26.38 26.58

30D01210% due 4/ 1/21

U.S. Treasury2,250,000.000 2,249,075.58 2,249,783.58 99.997620 2,249,946.45 0.072162.87 1,613.19 0.02 1.65 1.65 1.66

9127962Y 9127962Y40% due 5/20/21

U.S. Treasury500,000.000 499,502.90 499,880.76 99.996740 499,983.70 0.113102.94 565.63 0.02 0.37 0.37 0.37

9127963H 9127963H00% 06/17/2021

U.S. Treasury750,000.000 749,565.37 749,742.74 99.988820 749,916.15 0.078173.41 583.64 0.03 0.55 0.55 0.55

9127964L 9127964L00% 09/09/2021

U.S. Treasury500,000.000 499,728.26 500,000.00 100.000000 500,000.00 0.1090.00 545.35 0.00 0.37 0.37 0.37

9127964P 9127964P1DISC 04/01/2021

U.S. Treasury750,000.000 749,528.13 749,702.72 99.984910 749,886.83 0.077184.11 574.50 0.03 0.55 0.55 0.55

9127964V 9127964V80% 10/07/2021

U.S. Treasury2,500,000.000 2,499,658.91 2,499,977.69 99.999850 2,499,996.25 0.04718.56 1,163.58 0.01 1.83 1.83 1.85

9127964X 9127964X40% due 4/ 8/21

U.S. Treasury2,000,000.000 1,999,595.56 1,999,875.56 99.999130 1,999,982.60 0.081107.04 1,623.33 0.01 1.47 1.47 1.48

9127964Z 9127964Z90% DUE 04/29/2021

U.S. Treasury2,500,000.000 2,499,235.47 2,499,791.95 99.998300 2,499,957.50 0.087165.55 2,171.17 0.02 1.83 1.83 1.85

9127965A 9127965A30% due 5/ 6/21

U.S. Treasury750,000.000 749,282.28 749,507.45 99.971640 749,787.30 0.098279.85 734.32 0.04 0.55 0.55 0.550% due 12/ 2/21

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PriceCurrentValue


Est.AnnualIncome

CurrentYield

Yld toMat


% of Tot.Assets

% of NetAssets


Description/


9127965G 9127965G0U.S. Treasury2,850,000.000 2,849,431.09 2,849,813.97 99.997380 2,849,925.33 0.057111.36 1,617.70 0.02 2.09 2.09 2.10

912796A2 912796A250% due 5/13/21

U.S. Treasury1,000,000.000 999,949.44 999,949.44 99.994310 999,943.10 0.000-6.34 0.00 0.02 0.73 0.73 0.74

912796B4 912796B400% due 7/ 1/21

U.S. Treasury750,000.000 749,400.38 749,437.96 99.948590 749,614.43 0.083176.47 623.91 0.06 0.55 0.55 0.55

912796D3 912796D300% DUE 02/24/2022

U.S. Treasury1,000,000.000 999,714.36 999,758.30 99.989840 999,898.40 0.057140.10 573.18 0.02 0.73 0.73 0.74

912796D6 912796D630% due 9/ 2/21

U.S. Treasury2,500,000.000 2,499,293.50 2,499,969.31 99.999860 2,499,996.50 0.09027.19 2,242.24 0.01 1.83 1.83 1.85

912796D7 912796D710% due 4/ 6/21

U.S. Treasury2,000,000.000 1,999,486.67 1,999,944.99 99.999830 1,999,996.60 0.08451.61 1,674.01 0.01 1.47 1.47 1.48

912796D8 912796D890% due 4/13/21

U.S. Treasury1,750,000.000 1,749,558.14 1,749,925.50 99.998940 1,749,981.45 0.08255.95 1,431.76 0.02 1.28 1.28 1.29

912796D9 912796D970% due 4/20/21

U.S. Treasury750,000.000 749,733.56 749,952.87 99.998740 749,990.55 0.08837.68 662.01 0.02 0.55 0.55 0.55

912796F2 912796F200% due 4/27/21

U.S. Treasury1,000,000.000 999,292.22 999,305.83 99.933060 999,330.60 0.07124.77 710.15 0.07 0.73 0.73 0.74

912796F3 912796F380% due 3/24/22

U.S. Treasury2,000,000.000 1,999,866.53 1,999,918.53 99.996740 1,999,934.80 0.03216.27 633.10 0.02 1.47 1.47 1.48

912796F9 912796F950% due 5/18/21

U.S. Treasury750,000.000 749,704.78 749,891.55 99.997380 749,980.35 0.09888.80 733.52 0.02 0.55 0.55 0.55

912796G2 912796G290% due 5/25/21

U.S. Treasury1,000,000.000 999,819.83 999,859.44 99.994500 999,945.00 0.04785.56 466.70 0.02 0.73 0.73 0.74

912796J2 912796J260% DUE 07/20/2021

Wells Fargo Govt2,092,587.610 2,092,587.61 2,092,587.61 100.000000 2,092,587.61 0.0100.00 209.28 0.01 1.54 1.53 1.54

94975P40 94975P405MMK Sweep

136,307,926.57 136,311,305.30 3,378.72 547,906 100.00 99.89 100.630.402 0.07

Page 5 of 6NAV 1.00002478731


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20000000 - SDFIT


PriceCurrentValue


Est.AnnualIncome

CurrentYield

Yld toMat


% of Tot.Assets

% of NetAssets


Description/


TOTAL PORTFOLIO136,158,080.750 136,408,541.42

Page 6 of 632

administration report

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