USTB

USTB

Superstate Short Duration US Government Securities Fund

USTB

As of 11/05/2024

Assets Under Management

$141.77M

NAV per Share

30-Day Yield 1

4.59%

Management Fee 2

Up to 0.15%

The Superstate Short Duration US Government Securities Fund (the “Fund”) offers Qualified Purchasers access to short-duration Treasury Bills. The Fund’s investment objective is to seek current income as is consistent with liquidity and stability of principal, targeting returns in line with the federal funds rate. Ownership in the Fund is represented by an ERC-20 token, USTB. Subscriptions and redemptions are facilitated through USD or USDC, with liquidity each market day. 3

For more information on the mechanics behind USTB see our Documentation

Continuous NAV/S

The Superstate Short Duration US Government Securities Fund features a continuous NAV per share. This enables interest accrual immediately upon fund receipt, eliminating the need to wait for business days or settlement deadlines. Read more →

Network details

Ethereum

Shares

9,670,430.61 (71.22%)

Allowlist

0x42d7...dE8149

Book-Entry

Shares

3,907,988.79 (28.78%)

Fund service providers & structure

Custodian

UMB Bank, N.A.

Auditor

Ernst & Young LLP

NAV Calculation Agent

NAV Fund Services

Investment Manager

Superstate Inc.

Sub-Advisor

Federated Hermes, Inc.

Domicile

United States

Structure

The Fund is a series of a Delaware Statutory Trust

Eligible Investors

Qualified Purchasers in supported jurisdictions

Holdings
4

As of 11/01/2024

U.S. Treasury Bill 11/05/2024 5,120,000 5,117,295 05-Nov-2024 05-Nov-2024 4.8522 3.50
U.S. Treasury Bill 11/05/2024 880,000 879,537 05-Nov-2024 05-Nov-2024 4.8349 0.60
U.S. Treasury Bill 11/05/2024 1,100,000 1,099,426 05-Nov-2024 05-Nov-2024 4.7808 0.75
U.S. Treasury Bill 11/05/2024 330,000 329,828 05-Nov-2024 05-Nov-2024 4.7952 0.23
U.S. Treasury Bill 11/05/2024 750,000 749,605 05-Nov-2024 05-Nov-2024 4.8420 0.51
U.S. Treasury Bill 11/12/2024 3,900,000 3,894,054 12-Nov-2024 12-Nov-2024 5.1129 2.66
U.S. Treasury Bill 11/12/2024 3,500,000 3,494,984 12-Nov-2024 12-Nov-2024 4.7850 2.39
U.S. Treasury Bill 11/12/2024 1,200,000 1,198,273 12-Nov-2024 12-Nov-2024 4.8061 0.82
U.S. Treasury Bill 11/12/2024 2,000,000 1,997,097 12-Nov-2024 12-Nov-2024 4.8471 1.36
U.S. Treasury Bill 11/14/2024 2,220,000 2,215,936 14-Nov-2024 14-Nov-2024 5.2214 1.51
U.S. Treasury Bill 11/14/2024 4,200,000 4,192,796 14-Nov-2024 14-Nov-2024 4.8561 2.86
U.S. Treasury Bill 11/19/2024 750,000 748,241 19-Nov-2024 19-Nov-2024 4.8032 0.51
U.S. Treasury Bill 11/19/2024 6,000,000 5,985,900 19-Nov-2024 19-Nov-2024 4.7959 4.09
U.S. Treasury Bill 11/19/2024 75,000 74,824 19-Nov-2024 19-Nov-2024 4.7805 0.05
U.S. Treasury Bill 11/19/2024 4,075,000 4,065,526 19-Nov-2024 19-Nov-2024 4.7428 2.78
U.S. Treasury Bill 11/21/2024 2,000,000 1,994,756 21-Nov-2024 21-Nov-2024 4.8252 1.36
U.S. Treasury Bill 11/21/2024 2,000,000 1,994,383 21-Nov-2024 21-Nov-2024 5.2058 1.36
U.S. Treasury Bill 11/26/2024 975,000 971,845 26-Nov-2024 26-Nov-2024 4.7549 0.66
U.S. Treasury Bill 11/26/2024 4,000,000 3,987,083 26-Nov-2024 26-Nov-2024 4.7619 2.72
U.S. Treasury Bill 11/26/2024 1,550,000 1,545,000 26-Nov-2024 26-Nov-2024 4.7383 1.06
U.S. Treasury Bill 11/26/2024 21,000,000 20,932,187 26-Nov-2024 26-Nov-2024 4.7447 14.30
U.S. Treasury Bill 11/29/2024 3,050,000 3,038,186 29-Nov-2024 29-Nov-2024 5.1283 2.08
U.S. Treasury Bill 11/29/2024 3,350,000 3,337,832 29-Nov-2024 29-Nov-2024 4.7745 2.28
U.S. Treasury Bill 11/29/2024 4,000,000 3,985,424 29-Nov-2024 29-Nov-2024 4.7899 2.72
U.S. Treasury Bill 12/03/2024 4,100,000 4,085,395 03-Dec-2024 03-Dec-2024 4.6730 2.79
U.S. Treasury Bill 12/03/2024 2,750,000 2,738,621 03-Dec-2024 03-Dec-2024 4.7671 1.87
U.S. Treasury Bill 12/05/2024 10,000,000 9,956,083 05-Dec-2024 05-Dec-2024 4.7533 6.80
U.S. Treasury Bill 12/10/2024 1,000,000 994,594 10-Dec-2024 10-Dec-2024 5.1583 0.68
U.S. Treasury Bill 12/10/2024 2,000,000 1,989,947 10-Dec-2024 10-Dec-2024 4.7516 1.36
U.S. Treasury Bill, 12/12/2024 4,250,000 4,227,590 12-Dec-2024 12-Dec-2024 4.7327 2.89
U.S. Treasury Bill, 12/12/2024 5,000,000 4,972,126 12-Dec-2024 12-Dec-2024 5.0389 3.40
U.S. Treasury Bill 12/17/2024 3,000,000 2,982,252 17-Dec-2024 17-Dec-2024 4.7413 2.04
U.S. Treasury Bill 12/17/2024 1,000,000 993,611 17-Dec-2024 17-Dec-2024 5.1688 0.68
U.S. Treasury Bill 12/19/2024 2,000,000 1,987,333 19-Dec-2024 19-Dec-2024 4.8879 1.36
U.S. Treasury Bill 12/24/2024 8,000,000 7,945,940 24-Dec-2024 24-Dec-2024 4.7001 5.43
U.S. Treasury Bill 12/24/2024 1,250,000 1,240,946 24-Dec-2024 24-Dec-2024 5.0847 0.85
U.S. Treasury Bill 12/26/2024 3,000,000 2,979,192 26-Dec-2024 26-Dec-2024 4.6693 2.04
U.S. Treasury Bill 12/31/2024 2,000,000 1,985,829 31-Dec-2024 31-Dec-2024 4.6640 1.36
U.S. Treasury Bill 12/31/2024 1,000,000 991,883 31-Dec-2024 31-Dec-2024 5.0322 0.68
U.S. Treasury Bill 01/02/2025 3,000,000 2,976,750 02-Jan-2025 02-Jan-2025 4.6276 2.03
U.S. Treasury Bill 01/07/2025 1,000,000 991,048 07-Jan-2025 07-Jan-2025 4.9692 0.68
U.S. Treasury Bill 01/09/2025 2,000,000 1,982,558 09-Jan-2025 09-Jan-2025 4.6797 1.35
U.S. Treasury Bill 01/14/2025 2,000,000 1,980,513 14-Jan-2025 14-Jan-2025 4.8957 1.35
U.S. Treasury Bill 01/16/2025 2,000,000 1,980,937 16-Jan-2025 16-Jan-2025 4.6432 1.35
U.S. Treasury Bill 01/21/2025 1,000,000 989,515 21-Jan-2025 21-Jan-2025 4.8118 0.68
U.S. Treasury Bill, 01/23/2025 5,750,000 5,690,211 23-Jan-2025 23-Jan-2025 4.6380 3.89
U.S. Treasury Bill 01/28/2025 1,000,000 989,171 28-Jan-2025 28-Jan-2025 4.5708 0.68
U.S. Treasury Bill 02/04/2025 1,000,000 988,363 04-Feb-2025 04-Feb-2025 4.5498 0.68
U.S. Treasury Bill 02/11/2025 1,000,000 987,448 11-Feb-2025 11-Feb-2025 4.5708 0.67
U.S. Treasury Bill 02/18/2025 2,000,000 1,973,234 18-Feb-2025 18-Feb-2025 4.5603 1.35
U.S. Treasury Bill 02/20/2025 1,000,000 985,447 20-Feb-2025 20-Feb-2025 4.9160 0.67
U.S. Treasury Bill 02/25/2025 2,000,000 1,971,354 25-Feb-2025 25-Feb-2025 4.5865 1.35
U.S. Treasury Bill 03/04/2025 1,000,000 985,356 04-Mar-2025 04-Mar-2025 4.5708 0.67
Disclaimers

Past performance does not guarantee future results.

The Superstate Short Duration US Government Securities Fund (“USTB”) will be limited to Investors that meet certain criteria. Investors will be required to provide certain personal and financial information before eligibility to participate in this offering is determined. The information gathered is to ensure compliance with applicable laws including anti-money laundering as well as “qualified purchaser” status, as defined under the Investment Company Act of 1940, and “accredited investor” status, as defined under the Securities Act of 1933. No investment should be made until offering and Fund related documents, which are available upon request, are thoroughly reviewed and understood.

1 30 Day Yield is reflective of the accrued net income from the Fund’s underlying holdings over the past thirty days divided by the average outstanding shares for that same period, divided by the last calculated NAV of the Fund, and then annualized. This 30 Day Yield calculation is inclusive of fees and expenses, which are not accrued until the Fund reaches a $200 million Net Asset Value. The return of the Fund’s underlying holdings are variable and will vary.

2 Management Fee and other Fund expenses will not accrue until the Fund reaches a $200 million Net Asset Value; once reached, the management fee and other fees and expenses that may be incurred by investing in the Fund will accrue daily. All investors will be subject to a 0.15% management fee. The Investment Manager will provide a monthly large holder rebate for investors maintaining a daily average holding greater than $25 million and will rebate 0.10% of the management fee for the average daily holding greater than $25 million.

3 USTB purchases and redemptions are made in U.S. Dollars. USDC facilitation is done through Circle, a third party. Daily liquidity facilitated through USDC is subject to risks as outlined within USTB’s Offering Documents.

4 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.

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All content available on this Website is general in nature, not directed or tailored to any particular person, and is for informational purposes only. Neither the Website nor any of its content is offered as investment advice and should not be deemed as investment advice or a recommendation to purchase or sell any specific security. The information contained herein reflects the opinions and projections of Superstate as of the date hereof, which are subject to change without notice at any time. Superstate does not represent that any opinion or projection will be realized. Neither Superstate nor any of its advisers, officers, directors, or affiliates represents that the information presented on this Website is accurate, current or complete, and such information is subject to change without notice. Any performance information must be considered in conjunction with applicable disclosures. Past performance is not a guarantee of future results. Neither this Website nor its contents should be construed as legal, tax, or other advice. Individuals are urged to consult with their own tax or legal advisers before entering into any advisory contract.

Superstate is currently exempt from registration with the U.S. Securities and Exchange Commission (“SEC”) in reliance on the private fund adviser exemption under the Investment Advisers Act of 1940 (“Advisers Act”). Information about Superstate can be found by visiting the SEC website www.adviserinfo.sec.gov and searching for our firm name. Neither the information, nor any opinion expressed above should be construed as solicitation or recommendation to buy or sell a security or personalized investment, tax, or legal advice.