FEDERATED CALIFORNIA MUNICIPAL CASH TRUST

Transcription

1 FEDERATED CALIFORNIA MUNICIPAL CASH TRUST Portfolio as of November 30, 2011 Current Net Assets -- $ 851,135,277 Weighted Average : 46 Days Weighted Average Life: 46 Days Principal Amount MUNICIPALS % California % $ 1,925,000 ABAG Finance Authority for Non-Profit Corporations, CA (899 Charleston LLC), (Series 2007) Daily 00037CLW8 $ 1,925,000 12/1/2011 6/1/2037 Variable Rate Demand Note VRDNs,(Bank of America N.A. LOC), 0.160% $ 3,000,000 ABAG Finance Authority for Non-Profit Corporations, CA (Ecology Action of Santa Cruz), (Series 2010) 00037CQS2 $ 3,000,000 12/7/ /1/2030 Variable Rate Demand Note Weekly VRDNs,(Comerica Bank LOC), 0.230% $ 5,075,000 ABAG Finance Authority for Non-Profit Corporations, CA (Eskaton Properties, Inc.), (Series 2008A) Weekly 00037CNC0 $ 5,075,000 12/7/2011 5/15/2029 Variable Rate Demand Note VRDNs,(U.S. Bank, N.A. LOC), 0.140% $ 2,330,000 ABAG Finance Authority for Non-Profit Corporations, CA (St. Paul's Day School of Oakland), (Series 2005) 00037CGS3 $ 2,330,000 12/7/2011 7/1/2035 Variable Rate Demand Note Weekly VRDNs,(Wells Fargo Bank, N.A. LOC), 0.210% $ 2,665,000 Alameda County, CA IDA Recovery Zone Facility (Dale Hardware, Inc.), (Series 2010) Weekly 01110RAA3 $ 2,665,000 12/7/2011 6/1/2040 Variable Rate Demand Note VRDNs,(Comerica Bank LOC), 0.170% $ 5,160,000 California Educational Facilities Authority (Chapman University), (2008 Series A) Daily VRDNs,(Bank of NV4 $ 5,160,000 12/1/ /1/2036 Variable Rate Demand Note America N.A. LOC), 0.140% $ 7,770,000 California Enterprise Development Authority (Alvarado Street Bakery), (Series 2007) Weekly 13067NAC6 $ 7,770,000 12/7/ /1/2042 Variable Rate Demand Note VRDNs,(Comerica Bank LOC), 0.240% $ 7,500,000 California Enterprise Development Authority (Humane Society Silicon Valley), (Series 2008) Weekly 13067RAE3 $ 7,500,000 12/7/2011 4/1/2038 Variable Rate Demand Note VRDNs,(Federal Home Loan Bank of San Francisco LOC), 0.150% $ 6,000,000 California Health Facilities Financing Authority (Adventist Health System/West), (Series1998B) Daily 13033F7N4 $ 6,000,000 12/1/2011 9/1/2028 Variable Rate Demand Note VRDNs,(Bank of America N.A. LOC), 0.140% $ 15,000,000 California Health Facilities Financing Authority, (Series 2006E), CP, (Kaiser Permanente), 0.350% 13032TGB1 $ 15,000,000 3/8/2012 3/8/2012 Other Municipal Debt $ 3,010,000 California Infrastructure & Economic Development Bank (Hillview Mental Health Center, Inc.), (Series 2008A) Weekly VRDNs,(Comerica Bank LOC), 0.240% $ 3,065,000 California Infrastructure & Economic Development Bank (Humane Society of Sonoma County), (Series 2004) Weekly VRDNs,(Comerica Bank LOC), 0.240% $ 5,000,000 California Infrastructure & Economic Development Bank (Saddleback Valley Christian Schools), (Series 2010A) Weekly VRDNs,(Federal Home Loan Bank of San Francisco LOC), 0.150% $ 12,235,000 California Infrastructure & Economic Development Bank (St. Margaret of Scotland Episcopal School), (Series 2008) Monthly VRDNs,(Federal Home Loan Bank of San Francisco LOC), 0.400% $ 4,000,000 California Infrastructure & Economic Development Bank (Tobinworld), (Series 2007A) Weekly VRDNs,(Comerica Bank LOC), 0.240% $ 2,750,000 California Municipal Finance Authority (Central Coast YMCA), (Series 2008A) Weekly VRDNs,(Federal Home Loan Bank of San Francisco LOC), 0.150% 13033WR70 $ 3,010,000 12/7/2011 8/1/2033 Variable Rate Demand Note 13033WQF3 $ 3,065,000 12/7/ /1/2029 Variable Rate Demand Note 13033W6S7 $ 5,000,000 12/7/ /1/2040 Variable Rate Demand Note 13033W6N8 $ 12,235,000 12/30/2011 1/1/2038 Variable Rate Demand Note 13033WE33 $ 4,000,000 12/7/ /1/2036 Variable Rate Demand Note 13048TDW0 $ 2,750,000 12/7/ /1/2038 Variable Rate Demand Note CMCT - 1

2 $ 5,190,000 California PCFA (Arcata Community Recycling Center, Inc.), (Series 2005A) Weekly VRDNs,(CALSTRS MV4 $ 5,190,000 12/7/ /1/2030 Variable Rate Demand Note (California State Teachers' Retirement System) LOC), 0.150% $ 5,850,000 California PCFA (Crown Disposal Company, Inc.), (Series 2010A) Weekly VRDNs,(Union Bank, N.A. LOC), PV1 $ 5,850,000 12/7/2011 9/1/2030 Variable Rate Demand Note 0.160% $ 1,115,000 California PCFA (Garden City Sanitation, Inc.), (Series 2009B) Weekly VRDNs,(Comerica Bank LOC), 0.160% PL3 $ 1,115,000 12/7/2011 7/1/2039 Variable Rate Demand Note $ 3,140,000 California PCFA (Mission Trail Waste Systems, Inc.), (Series 2010A) Weekly VRDNs,(Comerica Bank LOC), PU3 $ 3,140,000 12/7/ /1/2030 Variable Rate Demand Note 0.160% $ 25,000,000 California State University Institute, (Series A), CP,(JPMorgan Chase Bank, N.A. LOC)/(State Street Bank and 13078JSH2 $ 25,000,000 12/1/ /1/2011 Other Municipal Debt Trust Co. LOC), 0.180% $ 12,500,000 California State, (Series A-1), RANs, 2.000% 13063BLL4 $ 12,596,964 5/24/2012 5/24/2012 Other Municipal Debt $ 16,325,000 California State, (Series A-2), RANs, 2.000% 13063BLK6 $ 16,474,490 6/26/2012 6/26/2012 Other Municipal Debt $ 21,000,000 (4)(5) California State, Floater Certificates (Series ) Weekly VRDNs,(INS by Assured Guaranty Municipal Corp.)/(Morgan Stanley Bank, N.A. LIQ), 0.240% $ 2,700,000 California Statewide Communities Development Authority (Cruzio Holding Company, LLC), (Series 2010: Recovery Zone Facility) Weekly VRDNs,(Comerica Bank LOC), 0.230% $ 1,000,000 California Statewide Communities Development Authority (House Ear Institute), (Series 2007) Weekly VRDNs,(Federal Home Loan Bank of San Francisco LOC), 0.150% $ 1,505,000 California Statewide Communities Development Authority (Nonprofits' Insurance Alliance of California), (Series 2000A) Weekly VRDNs,(Comerica Bank LOC), 0.230% $ 4,380,000 California Statewide Communities Development Authority (North Peninsula Jewish Campus), (Series 2004) Daily VRDNs,(Bank of America N.A. LOC), 0.160% $ 1,050,000 California Statewide Communities Development Authority (Penny Lane Centers), (Series 2008) Weekly VRDNs,(U.S. Bank, N.A. LOC), 0.150% $ 5,500,000 California Statewide Communities Development Authority (Plan Nine Partners LLC), (Series 2005A: Sweetwater Union High School District) Weekly VRDNs,(Union Bank, N.A. LOC), 0.220% 13063BFL1 $ 21,000,000 12/7/2011 3/1/2040 Variable Rate Demand Note Z42 $ 2,700,000 12/7/ /1/2035 Variable Rate Demand Note KA4 $ 1,000,000 12/7/2011 8/1/2037 Variable Rate Demand Note CJ7 $ 1,505,000 12/7/2011 9/1/2020 Variable Rate Demand Note ZA1 $ 4,380,000 12/1/2011 7/1/2034 Variable Rate Demand Note YR2 $ 1,050,000 12/7/2011 9/1/2038 Variable Rate Demand Note A67 $ 5,500,000 12/7/2011 2/1/2035 Variable Rate Demand Note $ 19,715,000 (4)(5) California Statewide Communities Development Authority (Sutter Health), Merlots (Series 1999E) Weekly VRDNs,(INS by Assured Guaranty Municipal Corp.)/(Wells Fargo Bank, N.A. LIQ), 0.230% $ 1,200,000 California Statewide Communities Development Authority Multi-Family Housing (Beaumont CA Leased Housing Associates I, LP), (2010 Series B: Mountain View Apartments) Weekly VRDNs,(Federal Home Loan Mortgage Corp. LOC), 0.140% $ 24,035,000 (4)(5) California Statewide Communities Development Authority Multi-Family Housing (Irvine Apartment Communities LP), Putters (Series 2680) Weekly VRDNs,(JPMorgan Chase Bank, N.A. LIQ)/(JPMorgan Chase Bank, N.A. LOC), 0.220% $ 2,850,000 California Statewide Communities Development Authority Multi-Family Housing (Lincoln Walk Studios, LP), (2010 Series D: Lincoln Walk Apartments) Weekly VRDNs,(PNC Bank, N.A. LOC), 0.130% 13077TKX4 $ 19,715,000 12/7/2011 8/15/2029 Variable Rate Demand Note 13079PQZ9 $ 1,200,000 12/7/2011 8/1/2045 Variable Rate Demand Note 13079PMQ3 $ 24,035,000 12/7/2011 5/15/2018 Variable Rate Demand Note 13079PRG0 $ 2,850,000 12/7/ /1/2050 Variable Rate Demand Note $ 20,000,000 California Statewide Communities Development Authority, (Series 2009D), CP, (Kaiser Permanente), 13080NAK1 $ 20,000,000 2/10/2012 2/10/2012 Other Municipal Debt 0.270% $ 4,500,000 California Statewide Communities Development Authority, (Series 2011A-1), TRANs, (Butte County, CA), Z8 $ 4,543,954 6/29/2012 6/29/2012 Other Municipal Debt 2.000% $ 1,075,000 California Statewide Communities Development Authority, (Series 2011A-2), TRANs, (Pacific Grove, CA), A2 $ 1,085,064 6/29/2012 6/29/2012 Other Municipal Debt 2.000% $ 3,500,000 California Statewide Communities Development Authority, (Series 2011A-3), TRANs, (Redding, CA), 2.000% B0 $ 3,533,780 6/29/2012 6/29/2012 Other Municipal Debt $ 22,000,000 California Statewide Communities Development Authority, Gas Supply Variable Rate Revenue Bonds (Series 2010) Weekly VRDNs,(GTD by Royal Bank of Canada, Montreal)/(Royal Bank of Canada, Montreal LIQ), 0.120% 13080PAA8 $ 22,000,000 12/7/ /1/2040 Variable Rate Demand Note CMCT - 2

3 $ 23,135,000 (4)(5) Clipper Tax-Exempt Certificates Trust (California Non-AMT) Series Weekly VRDNs,(GTD by State Street Bank and Trust Co.)/(State Street Bank and Trust Co. LIQ), 0.170% 18886PUP8 $ 23,135,000 12/7/ /1/2022 Variable Rate Demand Note $ 11,440,000 (4)(5) Clipper Tax-Exempt Certificates Trust (California Non-AMT) Series (California State) Weekly VRDNs,(State Street Bank and Trust Co. LIQ)/(State Street Bank and Trust Co. LOC), 0.140% 18886PYP4 $ 11,440,000 12/7/2011 2/1/2023 Variable Rate Demand Note $ 9,480,000 Corcoran Joint Powers Finance Authority, CA (Corcoran, CA Water System), (Series 2008) Weekly AZ0 $ 9,480,000 12/7/2011 7/1/2036 Variable Rate Demand Note VRDNs,(Union Bank, N.A. LOC), 0.150% $ 9,000,000 Davis Joint Unified School District, CA, TRANs, 2.000% BZ7 $ 9,063,377 5/1/2012 5/1/2012 Other Municipal Debt $ 2,900,000 Dry Creek, CA Joint Elementary School District, TRANs, 2.000% FN0 $ 2,933,942 10/4/ /4/2012 Other Municipal Debt $ 7,675,000 (4)(5) East Side Union High School District, CA, Spears (Series DBE-296) Weekly VRDNs,(Deutsche Bank AG LIQ)/(GTD by Deutsche Bank AG), 0.220% $ 3,000,000 (4)(5) Hartnell, CA Community College District, Stage Trust (Series Z) Weekly VRDNs,(GTD by Wells Fargo & Co.)/(Wells Fargo & Co. LIQ), 0.140% $ 4,975,000 Hollister, CA Redevelopment Agency (San Benito County Community Services Development Corp.), (Series 2004) Weekly VRDNs,(CALSTRS (California State Teachers' Retirement System) LOC), 0.150% 25154CNT7 $ 7,675,000 12/7/2011 8/1/2031 Variable Rate Demand Note 94985NQA2 $ 3,000,000 12/7/2011 8/1/2049 Variable Rate Demand Note AA1 $ 4,975,000 12/7/2011 2/1/2029 Variable Rate Demand Note $ 13,000,000 Long Beach, CA, TRANs, 2.000% EQ9 $ 13,183,902 9/28/2012 9/28/2012 Other Municipal Debt $ 8,000,000 Los Angeles County, CA Schools Financing Program, ( , Series F-4), TRANs, 2.000% 54515ECK8 $ 8,015,139 2/1/2012 2/1/2012 Other Municipal Debt $ 5,000,000 Los Angeles County, CA, (Series B), TRANs, 2.500% HJ1 $ 5,035,363 3/30/2012 3/30/2012 Other Municipal Debt $ 12,600,000 Los Angeles County, CA, (Series C), TRANs, 2.500% HK8 $ 12,751,865 6/29/2012 6/29/2012 Other Municipal Debt $ 14,000,000 (4)(5) Los Angeles, CA Community College District, Rocs (Series 11728) Weekly VRDNs,(Citibank NA, New York LIQ), 54438CNK4 $ 14,000,000 12/7/2011 2/1/2017 Variable Rate Demand Note 0.140% $ 31,755,000 (4)(5) Los Angeles, CA Unified School District, Austin Floater Certificates (Series ) Weekly VRDNs,(Bank of 05248PRY3 $ 31,755,000 12/7/2011 7/1/2032 Variable Rate Demand Note America N.A. LIQ), 0.200% $ 4,475,000 (4)(5) Los Angeles, CA Wastewater System, Stage Trust (Series C) Weekly VRDNs,(Wells Fargo & Co. LIQ), 94985NAQ4 $ 4,475,000 12/7/2011 6/1/2035 Variable Rate Demand Note 0.150% $ 20,000,000 (4)(5) Los Angeles, CA Wastewater System, Stage Trust (Series C) Weekly VRDNs,(Wells Fargo & Co. LIQ), 94985NAQ4 $ 20,000,000 12/8/2011 6/1/2035 Variable Rate Demand Note 0.150% $ 10,000,000 Los Angeles, CA, (2011 Series C), TRANs, 2.500% GY9 $ 10,089,209 4/30/2012 4/30/2012 Other Municipal Debt $ 3,500,000 Milpitas, CA Unified School District, TRANs, 2.000% HX3 $ 3,533,769 6/29/2012 6/29/2012 Other Municipal Debt $ 9,540,000 (4)(5) Monterey Peninsula, CA Community College District, Stage Trust (Series C) Weekly VRDNs,(INS by Assured Guaranty Municipal Corp.)/(Wells Fargo Bank, N.A. LIQ), 0.260% $ 7,180,000 (4)(5) Mount San Antonio, CA Community College District, Austin Trust (Series X) Weekly VRDNs,(Bank of America N.A. LIQ)/(INS by Assured Guaranty Municipal Corp.), 0.240% 94985NR37 $ 9,540,000 12/7/2011 8/1/2034 Variable Rate Demand Note 05248PZU2 $ 7,180,000 12/7/2011 9/1/2031 Variable Rate Demand Note $ 3,000,000 Municipal Improvement Corporation of Los Angeles, CA, (Series A-3), CP,(Bank of the West, San Francisco, 54459QAB1 $ 3,000,000 12/13/ /13/2011 Other Municipal Debt CA LOC), 0.200% $ 10,000,000 Municipal Improvement Corporation of Los Angeles, CA, (Series A-3), CP,(Bank of the West, San Francisco, 54459QJB2 $ 10,000,000 12/1/ /1/2011 Other Municipal Debt CA LOC), 0.600% $ 6,500,000 Napa Valley, CA Unified School District, TRANs, 2.000% Y6 $ 6,563,494 6/29/2012 6/29/2012 Other Municipal Debt $ 15,930,000 (4)(5) Napa Valley, CA Unified School District, Stage Trust (Series Z) Weekly VRDNs,(GTD by Wells Fargo & 94985NSB8 $ 15,930,000 12/7/2011 8/1/2049 Variable Rate Demand Note Co.)/(Wells Fargo & Co. LIQ), 0.150% $ 17,800,000 (4)(5) Nuveen Insured California Tax-Free Advantage Municipal Fund, [Series 2] Weekly VRDPs,(GTD by Deutsche $ 17,800,000 12/7/2011 6/1/2040 Variable Rate Demand Note Bank AG), 0.240% $ 4,845,000 (4)(5) Orange County, CA Sanitation District, Stage Trust (Series C) Weekly VRDNs,(Wells Fargo & Co. LIQ), 0.150% 94985NJM4 $ 4,845,000 12/7/2011 2/1/2039 Variable Rate Demand Note CMCT - 3

4 $ 6,000,000 Oxnard, CA Financing Authority (Oxnard, CA), (Series 2003B) Weekly VRDNs,(Union Bank, N.A. LOC), 0.150% AP3 $ 6,000,000 12/7/2011 6/1/2033 Variable Rate Demand Note $ 8,090,000 (4)(5) Peralta, CA Community College District, Austin Trust (Series X) Weekly VRDNs,(Bank of America 05248PC29 $ 8,090,000 12/7/2011 8/1/2030 Variable Rate Demand Note N.A. LIQ)/(INS by Assured Guaranty Municipal Corp.), 0.290% $ 4,000,000 (4)(5) Peralta, CA Community College District, Stage Trust (Series C) Weekly VRDNs,(GTD by Wells Fargo & 94985NPW5 $ 4,000,000 12/7/2011 8/1/2039 Variable Rate Demand Note Co.)/(Wells Fargo & Co. LIQ), 0.140% $ 10,000,000 Riverside County, CA, TRANs, 2.000% CH8 $ 10,096,515 6/29/2012 6/29/2012 Other Municipal Debt $ 8,855,000 (4)(5) Riverside, CA Unified School District, Floater Certificates (Series ) Weekly VRDNs,(INS by Assured WC6 $ 8,855,000 12/7/2011 9/1/2030 Variable Rate Demand Note Guaranty Corp.)/(Morgan Stanley Bank, N.A. LIQ), 0.190% $ 6,400,000 Rocklin, CA Unified School District, TRANs, 2.000% GG5 $ 6,474,906 10/4/ /4/2012 Other Municipal Debt $ 3,050,000 San Diego County, CA (Museum of Contemporaty Art San Diego), (Series 2004) Weekly VRDNs,(Northern YJ2 $ 3,050,000 12/7/ /1/2034 Variable Rate Demand Note Trust Co., Chicago, IL LOC), 0.140% $ 11,800,000 San Diego County, CA Water Authority, (Series 4), CP, 0.190% 79742CAZ3 $ 11,800,000 1/9/2012 1/9/2012 Other Municipal Debt $ 10,900,000 San Diego County, CA Water Authority, (Series 5), CP, 0.190% 79742DAU2 $ 10,900,000 1/9/2012 1/9/2012 Other Municipal Debt $ 20,415,000 (4)(5) San Diego, CA Housing Authority (Mirada at La Jolla Colony Apartments), P-Floats (Series PT-501) Weekly VRDNs,(Federal Home Loan Mortgage Corp. LIQ)/(GTD by Federal Home Loan Mortgage Corp.), 0.270% 79728FHD6 $ 20,415,000 12/7/2011 4/1/2026 Variable Rate Demand Note $ 9,945,000 (4)(5) San Francisco, CA City & County Airport Commission, Stage Trust (Series C), TOBs,(GTD by Wells 94985NUE9 $ 9,945,000 2/9/2012 5/1/2040 Other Municipal Debt Fargo Bank, N.A.)/(Wells Fargo Bank, N.A. LIQ), 0.250% $ 24,675,000 (4)(5) San Francisco, CA Public Utilities Commission (Water Enterprise), Stage Trust (Series C), TOBs,(GTD 94985NNT4 $ 24,675,000 1/26/ /1/2039 Other Municipal Debt by Wells Fargo & Co.)/(Wells Fargo & Co. LIQ), 0.230% $ 50,785,000 (4)(5) Santa Clara County, CA, Stage Trust (Series C) Weekly VRDNs,(Wells Fargo & Co. LIQ), 0.150% 94985NJT9 $ 50,785,000 12/7/2011 8/1/2039 Variable Rate Demand Note $ 3,250,000 School Project For Utility Rate Reduction, CA, (Series 2011), RANs, 2.000% AQ0 $ 3,275,872 8/1/2012 8/1/2012 Other Municipal Debt $ 10,000,000 South Coast, CA Local Education Agencies, (Series 2011B), TRANs, (Capistrano, CA Unified School District), AV7 $ 10,072,464 5/15/2012 5/15/2012 Other Municipal Debt 2.000% $ 37,075,000 (4)(5) Spears (Series DB-364) (California Non-AMT) Weekly VRDNs,(Deutsche Bank AG LIQ)/(GTD by Deutsche Bank 25154CD76 $ 37,075,000 12/7/2011 6/1/2047 Variable Rate Demand Note AG), 0.220% $ 6,500,000 (4)(5) Tamalpais, CA Union High School District, Austin Trust (Series X) Weekly VRDNs,(Bank of America 05248PA21 $ 6,500,000 12/7/2011 8/1/2028 Variable Rate Demand Note N.A. LIQ)/(INS by Assured Guaranty Municipal Corp.), 0.240% $ 14,900,000 Tustin, CA Unified School District, Special Tax District: Community Facilities District #07-1, (Series 2010) Daily FE1 $ 14,900,000 12/1/2011 9/1/2050 Variable Rate Demand Note VRDNs,(Bank of America N.A. LOC), 0.140% $ 16,590,000 West Covina, CA Public Financing Authority (West Covina, CA), (Series 2002B) Weekly VRDNs,(CALSTRS 95236PAB6 $ 16,590,000 12/7/2011 9/1/2035 Variable Rate Demand Note (California State Teachers' Retirement System) LOC), 0.150% $ 3,785,000 West Covina, CA Redevelopment Agency (West Covina, CA), (Series 1988: The Lakes Public Parking Project) 95236TAB8 $ 3,785,000 12/7/2011 8/1/2018 Variable Rate Demand Note Weekly VRDNs,(Wells Fargo Bank, N.A. LOC), 0.170% $ 5,000,000 West Hills Community College District Financing Corporation, CA (West Hills Community College District, CA) 95330RAC5 $ 5,000,000 12/7/2011 7/1/2033 Variable Rate Demand Note, (Series 2008) Weekly VRDNs,(Union Bank, N.A. LOC), 0.130% $ 285,000 (4)(5) William S. Hart, CA Union High School District, Rocs (Series 648WFZ) Weekly VRDNs,(GTD by Wells Fargo & 76113PDF2 $ 285,000 12/7/2011 9/1/2021 Variable Rate Demand Note Co.)/(Wells Fargo & Co. LIQ), 0.170% TOTAL $ 833,919,066 TOTAL MUNICIPALS $ 833,919,066 TOTAL INVESTMENTS $ 833,919,066 Includes the name of issuer and coupon or yield of the security. (2) date as determined under Rule 2a-7(d) for purposes of calculating the portfolio's Weighted Average CMCT - 4

5 Principal Amount (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) Denotes a restricted security that either: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from registration, under the Securities Act of 1933; or (b) is subject to a contractual restriction on public sales. At November 30,2011, these restricted securities amounted to $406,150,000, which represented 47.7% of total net assets. (5) Denotes a restricted security that may be resold without restriction to qualified institutional buyers as defined in Rule 144A under the Securities Act of 1933 and that the Fund has determined to be liquid under criteria established by the Fund's Board of Trustees. At November 30,2011, these liquid restricted securities amounted to $406,150,000, which represented 47.7% of total net assets. The categories of investments are shown as a percentage of net assets ($851,135,277) at the close of business on November 30,2011, 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: AMT --Alternative Minimum Tax BAN --Bond Anticipation Note COL --Collateralized COP --Certificate of Participation CP --Commercial Paper CSD --Central School District EDA --Economic Development Authority EDC --Economic Development Commission EDFA --Economic Development Financing Authority EDR --Economic Development Revenue EDRB --Economic Development Revenue Bond FHLB --Federal Home Loan Bank FHLMC --Federal Home Loan Mortgage Corporation FNMA --Federal National Mortgage Association GNMA --Government National Mortgage Association GO --General Obligation GTD --Guaranteed HEFA --Health and Education Facilities Authority HFA --Housing Finance Authority HFDC --Health Facility Development Corporation IDA --Industrial Development Authority IDB --Industrial Development Bond IDC --Industrial Development Corporation IDFA --Industrial Development Finance Authority CMCT - 5

6 IDR --Industrial Development Revenue IDRB --Industrial Development Revenue Bond INS --Insured INV --Investment Agreement ISD --Independent School District LIQ --Liquidity Agreement LLC --Limited Liability Corporation LOC --Letter of Credit LP --Limited Partnership LT --Limited Tax MERLOTS --Municipal Exempt Receipts-Liquidity Optional Tender Series MFH --Multi-Family Housing MMM --Money Market Municipal PCFA --Pollution Control Finance Authority PCR --Pollution Control Revenue PRF --Prerefunded PUTTER --Puttable Tax-Exempt Receipt ROC SFM --Reset Option Certificate --Single Family Mortgage SPEAR --Short Puttable Exempt Adjustable Receipt TAN TOB --Tax Anticipation Note --Tender Option Bond TRAN --Tax and Revenue Anticipation Note UT --Unlimited Tax VRDN --Variable Rate Demand Note VRDP --Variable Rate Demand Preferred VREN --Variable Rate Extended Note An investment in money market funds is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although money market funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in these funds. 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. These portfolio holdings are not intended to be and do not constitute recommendations that others buy, sell, or hold any of the securities listed. For more complete information on the fund, visit FederatedInvestors.com for a prospectus or a summary prospectus, if available. 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 or summary prospectus, which you should read carefully before investing. CMCT - 6

7 NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE Federated Securities Corp., Distributor (32163) 11/30/2011 Federated is a registered mark of Federated Investors, Inc Federated Investors, Inc. CMCT - 7