SEMIANNUAL REPORT - USAA.com

Principal
Market
Amount Coupon Final Value
(000) Security Rate Maturity (000)
Georgia (0.5%)
$10,550 Atlanta (INS)(LIQ) (b) 0.37% 11/01/2043 $ 10,550
Idaho (0.9%)
19,885 American Falls Reservoir District 0.50 2/01/2025 19,885
Illinois (2.5%)
19,570 Chicago (LIQ) (b) 0.27 1/01/2015 19,570
34,100 State (LIQ) 2.00 10/01/2033 34,100
53,670
Kentucky (0.9%)
15,000 Economic Dev. Finance Auth. (INS)(LIQ) (b) 0.32 6/01/2016 15,000
4,060 Economic Dev. Finance Auth. (INS)(LIQ) 0.32 8/01/2018 4,060
19,060
Louisiana (3.8%)
28,000 St. James Parish (LOC - Natixis S.A.) 0.43 11/01/2039 28,000
29,000 St. James Parish 0.34 11/01/2040 29,000
25,000 St. James Parish 0.35 11/01/2040 25,000
82,000
Maine (1.1%)
23,285 Health & Higher Educational Facilities
Auth. (INS)(LIQ) 0.35 7/01/2036 23,285
New Jersey (3.5%)
28,015 EDA (LIQ)(LOC - Dexia Credit Local) (b) 0.47 9/01/2022 28,015
10,550 EDA (LIQ)(LOC - Dexia Credit Local) (b) 0.47 9/01/2025 10,550
2,600 EDA (LOC - Valley National Bank) 0.75 3/01/2031 2,600
7,135 EDA (LOC - Valley National Bank) 0.42 11/01/2031 7,135
6,435 EDA (LOC - Sovereign Bank) 0.75 5/15/2033 6,435
9,275 EDA (LOC - Valley National Bank) 0.30 11/01/2040 9,275
12,465 EDA (LOC - Valley National Bank) 0.30 11/01/2040 12,465
76,475
New York (0.2%)
4,745 Ulster County IDA (LOC - Sovereign Bank) 0.75 9/15/2037 4,745
Pennsylvania (4.4%)
11,000 Butler County General Auth. (INS)(LIQ) 0.30 9/01/2027 11,000
10,000 Delaware Valley Regional Finance Auth.
(LOC - Bayerische Landesbank) 0.31 12/01/2020 10,000
13,750 Delaware Valley Regional Finance Auth.
(LOC - Bayerische Landesbank) 0.29 6/01/2042 13,750
39,600 Emmaus General Auth. (INS)(LIQ) 0.35 12/01/2028 39,600
20,000 Luzerne County (INS)(LIQ) 0.65 11/15/2026 20,000
94,350
30 | USAA Tax Exempt Short-Term Fund