money market fund - edward jones · investment strategy: the fund operates as a “government money...

Money Market Fund

Semi-Annual Shareholder ReportAugust 31, 2019 (Unaudited)

INVESTMENT SHARES (TICKER JNSXX)

RETIREMENT SHARES (TICKER JRSXX)

Beginning on April 26, 2021, as permitted by regulations adopted by the U.S. Securities

and Exchange Commission, paper copies of the Fund’s shareholder reports will no

longer be sent by mail, unless you specifically request paper copies of the reports from

the Fund or from your Edward Jones financial advisor. Instead, the reports will be made

available on a website, and you will be notified by mail each time a report is posted and

provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be

affected by this change and you need not take any action. If you are not receiving

shareholder reports and other communications from the Fund electronically, you may

elect to do so by following the instructions at edwardjones.com/edelivery.

You may elect to receive all future reports in paper free of charge. You can inform the

Fund that you wish to continue receiving paper copies of your shareholder reports by

contacting your Edward Jones financial advisor or calling 1-855-226-9249. Your election

to receive reports in paper will apply to all funds held within your Edward Jones account,

including the Fund.

ContentsFund Facts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1Shareholder Expense Example . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Portfolio of Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Statement of Assets and Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11Statement of Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12Statements of Changes in Net Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13Financial Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14Notes to Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16Board of Trustees and Trust Officers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22Additional Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24Privacy Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

Fund Facts (Unaudited)Investment Objective: The Edward Jones Money Market Fund (the “Fund”) is a money marketfund that seeks to maintain a stable net asset value (“NAV”) of $1.00 per share. The Fund’sinvestment objective is stability of principal and current income consistent with stabilityof principal.

Investment Strategy: The Fund operates as a “government money market fund,” as such termis defined in or interpreted under Rule 2a-7 under the Investment Company Act of 1940, asamended (the “1940 Act”). As a “government money market fund”, the Fund is required to investat least 99.5% of its total assets in cash, U.S. government securities, repurchase agreements thatare collateralized by cash or U.S. government securities and/or shares of other “governmentmoney market funds.”

Portfolio Characteristics:

Portfolio Composition by Effecitve Maturity1Percentage of

Total Net Assets1 - 7 Days 64.2%8 - 30 Days 11.231 - 90 Days 9.591 - 180 Days 5.9181 Days or more 8.3Other Assets and Liabilities—Net2 0.9

TOTAL 100.0%

Portfolio Composition by Security Type3Percentage of

Total Net AssetsU.S. Government Agency Securities 33.3%U.S. Treasury Securities 16.9Repurchase Agreements 48.9Other Assets and Liabilities—Net2 0.9

TOTAL 100.0%

StatisticsWeighted Average Maturity4 39 DaysWeighted Average Life5 114 Days

1 Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the 1940 Act,which regulates money market funds.

2 Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities.3 See the Fund’s Prospectus and Statement of Additional Information for descriptions of the principal types of

securities in which the Fund invests.4 Money market funds must maintain a dollar-weighted average maturity of no longer than 60 days and

cannot invest in any security whose effective maturity is longer than 397 days (approximately 13 months).5 Money market funds must maintain a dollar-weighted average life to maturity of no longer than 120 days

and cannot invest in any security whose effective maturity is longer than 397 days (approximately13 months).

Semi-Annual Shareholder Report1

Shareholder Expense Example (Unaudited)As a shareholder of the Fund, you incur ongoing costs, including investment adviser fees,distribution (12b-1) fees, shareholder service fees and other Fund expenses. This Example isintended to help you understand your ongoing costs (in dollars) of investing in the Fund and tocompare these costs with the ongoing costs of investing in other mutual funds.

Actual Expenses

The Example is based on an investment of $1,000 invested at the beginning of the period andheld for the entire period from March 1, 2019 to August 31, 2019.

The first section of the table below provides information about actual account values and actualexpenses. You may use the information in this section, together with the amount you invested, toestimate the expenses that you incurred over the period. Simply divide your account value by$1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result bythe number in the first section under the heading entitled “Expenses Paid During Period” toestimate the expenses attributable to your investment during this period.

Hypothetical Example For Comparison Purposes

The second section of the table below provides information about hypothetical account valuesand hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate ofreturn of 5% per year before expenses, which is not the Fund’s actual return. Thus, you shouldnot use the hypothetical account values and expenses to estimate the actual ending accountbalance or your expenses for the period. Rather, these figures are required to be provided toenable you to compare the ongoing costs of investing in the Fund with other funds. To do so,compare this 5% hypothetical example with the 5% hypothetical examples that appear in theshareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only.Therefore, the second section of the table is useful in comparing ongoing costs only, and will nothelp you determine the relative total costs of owning different funds.

BeginningAccount Value

3/1/2019

EndingAccount Value

8/31/2019

AnnualizedExpense

RatioExpenses PaidDuring Period1

Actual:Investment Shares . . . . . . . . . . . . . . . . . $1,000.00 $1,008.80 0.69% $3.48Retirement Shares . . . . . . . . . . . . . . . . . $1,000.00 $1,008.60 0.72% $3.64Hypothetical:Investment Shares . . . . . . . . . . . . . . . . . $1,000.00 $1,021.67 0.69% $3.51Retirement Shares . . . . . . . . . . . . . . . . . $1,000.00 $1,021.52 0.72% $3.66

1 Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account valueover the period, multiplied by 184/366 (to reflect the six-month period).


Portfolio of InvestmentsAugust 31, 2019 (Unaudited)

PrincipalAmount Value

U.S. GOVERNMENT AGENCY SECURITIES—33.3%Federal Farm Credit System Discount Notes, 1.960% - 2.680%,12/9/2019 - 5/20/20201

$ 267,000,000 $ 264,365,894

Federal Farm Credit System Floating Rate Notes, 2.065% - 2.114%(1-month USLIBOR -0.080%), 9/13/2019 - 9/27/20192

115,000,000 114,997,711

Federal Farm Credit System Floating Rate Notes, 2.070%(1-month USLIBOR -0.075%), 9/26/20192

75,000,000 75,000,000


25,000,000 25,000,911


44,000,000 43,999,139


25,000,000 25,000,000


115,250,000 115,246,321

Federal Farm Credit System Floating Rate Notes, 2.150%(1-month USLIBOR +0.005%), 9/27/20192

60,750,000 60,748,136


50,000,000 50,000,000


109,500,000 109,500,000


20,000,000 20,000,000


65,000,000 64,999,563


117,000,000 117,000,000

Federal Farm Credit System Floating Rate Notes, 2.195%(Secured Overnight Financing Rate +0.075%), 9/3/20192

36,000,000 36,000,000


70,000,000 70,000,000


95,000,000 94,998,221


90,000,000 90,000,000


77,000,000 77,000,000

Federal Farm Credit System Floating Rate Notes, 2.245%(Effective Fed Funds +0.125%), 9/3/20192

51,800,000 51,796,126


50,000,000 49,998,746


59,000,000 58,992,926


39,000,000 39,000,000

Federal Home Loan Bank System Discount Notes, 1.950% - 2.455%,9/13/2019 - 3/24/20201

1,966,950,000 1,959,438,071

Federal Home Loan Bank System Floating Rate Notes, 2.024%(3-month USLIBOR -0.120%), 11/28/20192

149,000,000 149,000,000


225,000,000 225,000,000

The accompanying notes are an integral part of these financial statements.Semi-Annual Shareholder Report

3

Portfolio of InvestmentsAugust 31, 2019 (Unaudited) (Continued)


U.S. GOVERNMENT AGENCY SECURITIES—(continued)Federal Home Loan Bank System Floating Rate Notes, 2.074%(1-month USLIBOR -0.095%), 9/21/20192

$ 120,000,000 $ 120,000,000


125,000,000 125,000,000

Federal Home Loan Bank System Floating Rate Notes, 2.110% - 2.141%(1-month USLIBOR -0.060%), 9/11/2019 - 9/22/20192

220,000,000 220,000,000


45,000,000 45,000,000


163,000,000 163,000,000


287,000,000 287,000,000


250,000,000 250,000,000


18,000,000 18,000,000

Federal Home Loan Bank System Floating Rate Notes, 2.140%(Secured Overnight Financing Rate +0.020%), 9/3/20192

200,000,000 200,000,000


272,000,000 272,000,000


214,000,000 214,000,514


120,000,000 119,998,531


271,000,000 271,000,000


236,000,000 236,000,000


86,000,000 86,000,000


127,000,000 127,005,826


150,000,000 150,000,000


110,000,000 110,000,000


120,000,000 120,000,000


369,650,000 369,650,000

Federal Home Loan Bank System Floating Rate Notes, 2.197%(1-month USLIBOR +0.000%), 9/16/20192

100,000,000 100,000,000


100,000,000 100,000,000


100,000,000 100,000,000


95,000,000 95,000,000


47,000,000 47,000,000


4



U.S. GOVERNMENT AGENCY SECURITIES—(continued)Federal Home Loan Bank System, 1.940% - 2.580%, 10/18/2019 - 9/4/2020 $ 767,000,000 $ 767,002,159Federal Home Loan Mortgage Corp. Floating Rate Notes, 2.180%(Secured Overnight Financing Rate +0.060%), 9/3/20192

200,000,000 200,000,000

Federal Home Loan Mortgage Corp., 2.460% - 2.520%, 4/8/2020 - 6/3/2020 372,400,000 372,400,000Federal National Mortgage Association Floating Rate Notes, 2.160%(Secured Overnight Financing Rate +0.040%), 9/3/20192

39,000,000 39,000,000

Federal National Mortgage Association Floating Rate Notes, 2.190%(Secured Overnight Financing Rate +0.070%), 9/3/20192

74,000,000 74,000,000

Federal National Mortgage Association Floating Rate Notes, 2.195%(Secured Overnight Financing Rate +0.075%), 9/3/20192

88,000,000 88,000,000

Federal National Mortgage Association Notes, 1.000%, 10/24/2019 107,600,000 107,360,257Total U.S. Government Agency Securities 9,580,499,052

U.S. TREASURY SECURITIES—16.9%U.S. Treasury Bill, 1.800%, 8/13/2020 75,000,000 73,698,750U.S. Treasury Bill, 1.890%, 2/13/2020 300,000,000 297,401,250U.S. Treasury Bill, 2.010%, 1/16/2020 190,000,000 188,546,658U.S. Treasury Bill, 2.130%, 12/19/2019 210,000,000 208,645,675U.S. Treasury Bill, 2.135%, 12/12/2019 260,000,000 258,427,217U.S. Treasury Bill, 2.390%, 10/17/2019 150,000,000 149,541,917U.S. Treasury Bill, 2.395%, 10/31/2019 59,000,000 58,764,492U.S. Treasury Bill, 2.400%, 10/24/2019 100,000,000 99,646,667U.S. Treasury Bills, 1.840% - 2.468%, 2/27/2020 388,750,000 384,605,864U.S. Treasury Floating Rate Notes, 1.993% (91-day T-Bill +0.033%), 9/4/20192 176,000,000 175,979,553U.S. Treasury Floating Rate Notes, 2.003% (91-day T-Bill +0.043%), 9/4/20192 108,500,000 108,444,827U.S. Treasury Floating Rate Notes, 2.005% (91-day T-Bill +0.045%), 9/4/20192 330,000,000 329,839,714U.S. Treasury Floating Rate Notes, 2.075% (91-day T-Bill +0.115%), 9/4/20192 752,000,000 751,594,160U.S. Treasury Floating Rate Notes, 2.099% (91-day T-Bill +0.139%), 9/4/20192 160,000,000 159,996,112U.S. Treasury Note, 1.250%, 2/29/2020 150,000,000 149,357,697U.S. Treasury Note, 1.375%, 5/31/2020 29,500,000 29,359,541U.S. Treasury Note, 1.500%, 10/31/2019 246,900,000 246,463,110U.S. Treasury Note, 1.500%, 11/30/2019 33,500,000 33,414,719U.S. Treasury Note, 1.500%, 4/15/2020 99,750,000 99,426,544U.S. Treasury Note, 1.875%, 12/31/2019 72,750,000 72,593,158U.S. Treasury Note, 3.375%, 11/15/2019 235,000,000 235,404,045U.S. Treasury Notes, 1.125% - 1.375%, 3/31/2020 170,800,000 169,933,227U.S. Treasury Notes, 1.125% - 2.375%, 4/30/2020 248,000,000 247,689,103U.S. Treasury Notes, 1.250% - 1.375%, 1/31/2020 119,000,000 118,513,983U.S. Treasury Notes, 1.500% - 3.500%, 5/15/2020 217,500,000 218,174,535

Total U.S. Treasury Securities 4,865,462,518

REPURCHASE AGREEMENTS—48.9%Interest in $500,000,000 joint repurchase agreement 2.07%, dated 8/27/2019under which Bank of Montreal will repurchase securities provided ascollateral for $501,092,500 on 10/4/2019. The securities provided as collateralat the end of the period held with BNY Mellon as tri-party agent, wereU.S. Treasury securities, 0.000% - 3.875%, with various maturities to8/15/2049 and the market value of those underlying securitieswas $510,205,333.3

120,000,000 120,000,000


5



REPURCHASE AGREEMENTS—(continued)Interest in $300,000,000 joint repurchase agreement 2.07%, dated 8/28/2019under which Bank of Montreal will repurchase securities provided ascollateral for $300,690,000 on 10/7/2019. The securities provided as collateralat the end of the period held with BNY Mellon as tri-party agent, wereU.S. Treasury securities, 0.000% - 3.125%, with various maturities to2/15/2047 and the market value of those underlying securitieswas $306,105,657.3

$ 75,000,000 $ 75,000,000

Interest in $300,000,000 joint repurchase agreement 2.08%, dated 8/28/2019under which Bank of Montreal will repurchase securities provided ascollateral for $300,606,667 on 10/3/2019. The securities provided as collateralat the end of the period held with BNY Mellon as tri-party agent, wereU.S. Treasury securities, 0.000% - 3.000%, with various maturities to5/15/2047 and the market value of those underlying securitieswas $306,088,456.3

75,000,000 75,000,000


100,000,000 100,000,000


175,000,000 175,000,000

Interest in $1,400,000,000 joint repurchase agreement 2.15%, dated 8/30/2019under which Bank of Nova Scotia will repurchase securities provided ascollateral for $1,400,334,444 on 9/3/2019. The securities provided as collateralat the end of the period held with BNY Mellon as tri-party agent, wereU.S. Treasury securities, 0.000% – 4.500%, with various maturitiesto 2/15/2048 and the market value of those underlying securities was$1,428,341,151.

400,000,000 400,000,000

Interest in $1,600,000,000 joint repurchase agreement 2.17%, dated 8/30/2019under which Bank of Nova Scotia will repurchase securities provided ascollateral for $1,600,385,778 on 9/3/2019. The securities provided as collateralat the end of the period held with BNY Mellon as tri-party agent, wereU.S. Government Agency securities, 2.500% – 3.000%, with various maturitiesto 4/1/2049 and the market value of those underlying securitieswas $1,632,393,494.

525,000,000 525,000,000

Interest in $450,000,000 joint repurchase agreement 2.14%, dated 8/23/2019under which Barclays Bank PLC will repurchase securities provided ascollateral for $450,722,250 on 9/19/2019. The securities provided as collateralat the end of the period held with BNY Mellon as tri-party agent, wereU.S. Government Agency securities, 3.500% – 4.256%, with various maturitiesto 5/20/2049 and the market value of those underlying securitieswas $459,987,188.3

150,000,000 150,000,000

Interest in $300,000,000 joint repurchase agreement 2.21%, dated 8/1/2019under which Barclays Bank PLC will repurchase securities provided ascollateral for $300,607,750 on 9/3/2019. The securities provided as collateralat the end of the period held with BNY Mellon as tri-party agent, wereU.S. Government Agency securities, 3.500% – 4.000%, with various maturitiesto 1/20/2049 and the market value of those underlying securitieswas $306,619,905.3

70,000,000 70,000,000


6



REPURCHASE AGREEMENTS—(continued)Interest in $450,000,000 joint repurchase agreement 2.10%, dated 8/14/2019under which BMO Capital Markets Corp. will repurchase securities providedas collateral for $451,260,000 on 10/2/2019. The securities provided ascollateral at the end of the period held with BNY Mellon as tri-party agent,were U.S. Treasury securities, 0.000% – 3.625%, with various maturities to5/15/2049 and the market value of those underlying securitieswas $459,508,800.3

$ 100,000,000 $ 100,000,000

Interest in $700,000,000 joint repurchase agreement 2.14%, dated 8/30/2019under which BMO Capital Markets Corp. will repurchase securities providedas collateral for $701,165,111 on 9/27/2019. The securities provided ascollateral at the end of the period held with BNY Mellon as tri-party agent,were U.S. Government Agency securities, 2.200% – 7.500%, with variousmaturities to 7/20/2069 and the market value of those underlying securitieswas $718,286,794.3

200,000,000 200,000,000

Interest in $575,000,000 joint repurchase agreement 2.17%, dated 8/9/2019under which BMO Capital Markets Corp. will repurchase securities providedas collateral for $576,074,451 on 9/9/2019. The securities provided ascollateral at the end of the period held with BNY Mellon as tri-party agent,were U.S. Government Agency securities, 0.000% – 6.000%, with variousmaturities to 7/20/2069 and the market value of those underlying securitieswas $592,509,308.3

175,000,000 175,000,000

Interest in $970,000,000 joint repurchase agreement 2.09%, dated 8/29/2019under which BNP Paribas Securities Corp. will repurchase securities providedas collateral for $971,802,044 on 9/30/2019. The securities provided ascollateral at the end of the period held with BNY Mellon as tri-party agent,were U.S. Treasury securities, 0.375% - 7.625%, with various maturities to2/15/2049 and the market value of those underlying securities was$989,687,279.3

270,000,000 270,000,000

Interest in $1,500,000,000 joint repurchase agreement 2.15%, dated 8/8/2019under which BNP Paribas Securities Corp. will repurchase securities providedas collateral for $1,502,866,667 on 9/9/2019. The securities provided ascollateral at the end of the period held with BNY Mellon as tri-party agent,were U.S. Treasury securities, 3.000% - 3.125%, with various maturities to5/15/2041 and the market value of those underlying securitieswas $1,532,375,773.3

350,000,000 350,000,000

Interest in $2,000,000,000 joint repurchase agreement 2.17%, dated 8/30/2019under which BNP Paribas Securities Corp. will repurchase securities providedas collateral for $2,000,482,222 on 9/3/2019. The securities provided ascollateral at the end of the period held with State Street Bank & Trust Co.,were U.S. Government Agency securities, 0.375% - 7.625%, with variousmaturities to 11/15/2045 and the market value of those underlying securitieswas $2,042,604,055.

1,000,000,000 1,000,000,000

Interest in $500,000,000 joint repurchase agreement 2.18%, dated 8/6/2019under which BNP Paribas Securities Corp. will repurchase securities providedas collateral for $500,908,333 on 9/5/2019. The securities provided ascollateral at the end of the period held with BNY Mellon as tri-party agent,were U.S. Treasury securities, 0.125% - 3.000%, with various maturities to8/15/2045 and the market value of those underlying securitieswas $510,864,769.3

100,000,000 100,000,000


7



REPURCHASE AGREEMENTS—(continued)Interest in $835,000,000 joint repurchase agreement 2.21%, dated 7/25/2019under which BNP Paribas Securities Corp. will repurchase securities providedas collateral for $838,126,843 on 9/24/2019. The securities provided ascollateral at the end of the period held with BNY Mellon as tri-party agent,were U.S. Government Agency and U.S. Treasury securities, 0.000% - 8.500%,with various maturities to 8/1/2049 and the market value of those underlyingsecurities was $853,835,538.3

$ 285,000,000 $ 285,000,000

Interest in $1,000,000,000 joint repurchase agreement 2.21%, dated 8/2/2019under which BNP Paribas Securities Corp. will repurchase securities providedas collateral for $1,001,964,444 on 9/3/2019. The securities provided ascollateral at the end of the period held with BNY Mellon as tri-party agent,were U.S. Government Agency and U.S. Treasury securities, 0.000% - 8.750%,with various maturities to 2/1/2056 and the market value of those underlyingsecurities was $1,022,003,823.3

250,000,000 250,000,000

Interest in $350,000,000 joint repurchase agreement 2.26%, dated 7/11/2019under which BNP Paribas Securities Corp. will repurchase securities providedas collateral for $351,318,333 on 9/9/2019. The securities provided ascollateral at the end of the period held with BNY Mellon as tri-party agent,were U.S. Government Agency and U.S. Treasury securities, 0.000% - 7.625%,with various maturities to 6/25/2057 and the market value of those underlyingsecurities was $358,693,939.3

90,000,000 90,000,000

Interest in $1,000,000,000 joint repurchase agreement 2.21%, dated 8/27/2019under which Citigroup Global Markets, Inc. will repurchase securitiesprovided as collateral for $1,000,429,722 on 9/3/2019. The securities providedas collateral at the end of the period held with BNY Mellon as tri-party agent,were U.S. Government Agency and U.S. Treasury securities, 0.000% -10.000%,with various maturities to 7/20/2069 and the market value of those underlyingsecurities was $1,020,995,081.

250,000,000 250,000,000

Interest in $4,000,000,000 joint repurchase agreement 2.16%, dated 8/30/2019under which Credit Agricole Securities (USA), Inc. will repurchase securitiesprovided as collateral for $4,000,960,000 on 9/3/2019. The securities providedas collateral at the end of the period held with State Street Bank & Trust Co.,were U.S. Government Agency securities, 0.125% - 3.875%, with variousmaturities to 5/15/2049 and the market value of those underlying securitieswas $4,079,598,135.

500,000,000 500,000,000

Interest in $750,000,000 joint repurchase agreement 2.20%, dated 8/23/2019under which Credit Agricole Securities (USA), Inc. will repurchase securitiesprovided as collateral for $750,641,667 on 9/6/2019. The securities providedas collateral at the end of the period held with BNY Mellon as tri-party agent,were U.S. Treasury securities, 0.750% - 5.375%, with various maturities to2/15/2031 and the market value of those underlying securitieswas $765,514,313.3

150,000,000 150,000,000

Repurchase agreement 2.16%, dated 8/30/2019 under which Fixed IncomeClearing Corp. will repurchase securities provided as collateral for$2,000,480,000 on 9/3/2019. The securities provided as collateral at the end ofthe period held with State Street Bank & Trust Co., were U.S. Treasurysecurities, 0.000% - 2.750%, with various maturities to 7/31/2023 and themarket value of those underlying securities was $2,040,000,031.

2,000,000,000 2,000,000,000


8



REPURCHASE AGREEMENTS—(continued)Repurchase agreement 2.16%, dated 8/30/2019 under which Fixed IncomeClearing Corp. will repurchase securities provided as collateral for$2,500,600,000 on 9/3/2019. The securities provided as collateral at the end ofthe period held with State Street Bank & Trust Co., were U.S. GovernmentAgency securities, 0.125% - 2.875%, with various maturities to 7/15/2027 andthe market value of those underlying securities was $2,549,960,571.

$ 2,500,000,000 $ 2,500,000,000

Interest in $1,000,000,000 joint repurchase agreement 2.13%, dated 8/30/2019under which J.P. Morgan Securities LLC will repurchase securities providedas collateral for $1,000,414,167 on 9/6/2019. The securities provided ascollateral at the end of the period held with JPMorgan Chase as tri-partyagent, were U.S. Government Agency securities, 2.500% - 7.250%, withvarious maturities to 5/15/2060 and the market value of those underlyingsecurities was $1,020,000,000.2

300,000,000 300,000,000

Interest in $3,000,000,000 joint repurchase agreement 2.16%, dated 8/30/2019under which J.P. Morgan Securities LLC will repurchase securities providedas collateral for $3,021,600,000 on 12/18/2019. The securities provided ascollateral at the end of the period held with JPMorgan Chase as tri-partyagent, were U.S. Treasury securities, 1.375% - 5.500%, with various maturitiesto 8/15/2046 and the market value of those underlying securitieswas $3,060,000,003.2

450,000,000 450,000,000

Interest in $3,900,000,000 joint repurchase agreement 2.16%, dated 8/30/2019under which J.P. Morgan Securities LLC will repurchase securities providedas collateral for $3,900,936,000 on 9/3/2019. The securities provided ascollateral at the end of the period held with BNY Mellon as tri-party agent,were U.S. Treasury securities, 1.875% - 3.625%, with various maturities to8/15/2047 and the market value of those underlying securitieswas $3,978,000,045.

341,000,000 341,000,000

Repurchase agreement 2.35%, dated 7/11/2019 under which Lloyds Bank Plcwill repurchase securities provided as collateral for $175,639,722 on 9/9/2019.The securities provided as collateral at the end of the period held with StateStreet Bank & Trust Co., were U.S. Government Agency securities, 0.125%,with various maturities to 7/15/2024 and the market value of those underlyingsecurities was $201,866,502.

175,000,000 175,000,000

Interest in $950,000,000 joint repurchase agreement 2.17%, dated 8/19/2019under which Natixis Financial Products LLC will repurchase securitiesprovided as collateral for $951,775,181 on 9/19/2019. The securities providedas collateral at the end of the period held with BNY Mellon as tri-party agent,were U.S. Treasury securities, 0.000% - 7.625%, with various maturities to8/15/2049 and the market value of those underlying securitieswas $969,876,210.3

125,000,000 125,000,000

Interest in $300,000,000 joint repurchase agreement 2.18%, dated 8/30/2019under which Pershing LLC will repurchase securities provided as collateralfor $300,072,667 on 9/3/2019. The securities provided as collateral at the endof the period held with BNY Mellon as tri-party agent, were U.S. GovernmentAgency and U.S. Treasury securities, 0.000% - 8.500%, with various maturitiesto 7/20/2069 and the market value of those underlying securitieswas $306,421,708.

100,000,000 100,000,000


9



REPURCHASE AGREEMENTS—(continued)Interest in $1,500,000,000 joint repurchase agreement 2.15%, dated8/30/2019 under which RBC Dominion Securities Inc. will repurchasesecurities provided as collateral for $1,500,358,333 on 9/3/2019. Thesecurities provided as collateral at the end of the period held with BNYMellon as tri-party agent, were U.S. Treasury securities, 1.125% - 3.125%,with various maturities to 11/15/2028 and the market value of thoseunderlying securities was $1,530,365,532.

$ 1,150,000,000 $ 1,150,000,000

Repurchase agreement 2.16%, dated 8/15/2019 under which RBC DominionSecurities Inc. will repurchase securities provided as collateral for$500,960,000 on 9/16/2019. The securities provided as collateral at the endof the period held with BNY Mellon as tri-party agent, were U.S. Treasurysecurities, 1.125% - 6.500%, with various maturities to 11/15/2043 and themarket value of those underlying securities was $510,979,236.3

500,000,000 500,000,000

Repurchase agreement 2.17%, dated 8/30/2019 under which RBC DominionSecurities Inc. will repurchase securities provided as collateral for$1,000,241,111 on 9/3/2019. The securities provided as collateral at the endof the period held with BNY Mellon as tri-party agent, were U.S.Government Agency and U.S. Treasury securities, 0.375% - 6.000%, withvarious maturities to 8/20/2049 and the market value of those underlyingsecurities was $1,020,971,516.

1,000,000,000 1,000,000,000

Total Repurchase Agreements 14,051,000,000Total Investments—99.1%(at amortized cost)4 28,496,961,570Other Assets and Liabilities – Net—0.9% 258,189,639TOTAL NET ASSETS-100% $28,755,151,209

1 Discount yield(s) at time of purchase.2 Floating rate notes with current rate and current maturity or next reset date shown.3 Although the repurchase date is more than seven days after the date of purchase, the Fund has the right to

terminate the repurchase agreement at any time with seven days’ notice.4 Also represents cost for federal tax purposes.


10

Statement of Assets and LiabilitiesAugust 31, 2019 (Unaudited)

Assets:Investment in repurchase agreements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 14,051,000,000Investment in securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,445,961,570

Total investment in securities, at amortized cost and fair value . . . . . . . . . . . . . . . . . . . . . . . . . 28,496,961,570Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 558,759Income receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38,188,665Receivable for shares sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 521,323,615Prepaid expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55,228

Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,057,087,837

Liabilities:Payable for investments purchased . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108,800,000Payable for shares redeemed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 162,324,252Income distribution payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,782,605Payable to Adviser . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,837,284Payable for 12b-1 distribution service fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,046,605Payable for shareholder service fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,627,963Accrued expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,517,919

Total Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 301,936,628

Net Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $28,755,151,209

Net Assets Consist of:Paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 28,755,186,931Distributable accumulated loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (35,722)

Net Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $28,755,151,209

Net Asset ValueInvestment Shares:Net Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $21,712,553,525Shares Outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,712,580,586Net Asset Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.00Retirement Shares:Net Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7,042,597,684Shares Outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,042,606,298Net Asset Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.00


11

Statement of OperationsSix Months Ended August 31, 2019 (Unaudited)

Investment Income:Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 353,351,343

Expenses:Investment adviser fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,091,51912b-1 distribution service fees:

Investment shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,672,169Retirement shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,692,229

Transfer agent fees:Investment shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,442,585Retirement shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,319,871

Shareholder service fees:Investment shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,603,301Retirement shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,215,338

Share registration fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,528,470Printing and mailing fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,045,580Accounting and administrative fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 377,377Professional fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 235,674Custodian fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 164,762Trustees’ fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161,385Miscellaneous fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 179,914

Total Expenses Before Fee Waivers/Reimbursements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116,730,174

Voluntary waivers/reimbursements of other operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . (15,030,359)

Net Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101,699,815

Net Investment Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251,651,528

Net Realized Gain on Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 474

Net Increase in Net Assets Resulting from Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $251,652,002


12

Statements of Changes in Net Assets

Six MonthsEnded

8/31/2019(Unaudited)

Year Ended2/28/2019

Operations:Net investment income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 251,651,528 $ 347,584,626Net investment gain/(loss) on investments . . . . . . . . . . . . . . . . . . . . . . . . 474 (9,694)

Net Increase/(Decrease) in Net Assets Resultingfrom Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251,652,002 347,574,932

Distributions to Shareholders From Distributable Earnings:Investment shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (192,096,009) (260,270,870)Retirement shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (59,550,700) (87,317,944)

Total Distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (251,646,709) (347,588,814)

Capital TransactionsInvestment sharesProceeds from shares sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,804,985,649 84,769,441,017Reinvestment of dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 188,987,377 251,212,211Cost of shares redeemed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (42,550,761,819) (78,225,285,160)

Net increase/(decrease) from capital transactions . . . . . . . . . . . . . . . . (1,556,788,793) 6,795,368,068

Retirement sharesProceeds from shares sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36,670,905,413 81,982,678,589Reinvestment of dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57,604,727 82,232,478Cost of shares redeemed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (36,964,221,615) (81,322,800,706)

Net increase/(decrease) from capital transactions . . . . . . . . . . . . . . . . (235,711,475) 742,110,361

Net Change Resulting from Total Fund Share Transactions . . . . . (1,792,500,268) 7,537,478,429

Net Increase/(Decrease) in Net Assets . . . . . . . . . . . . . . . . . . . . . . . . . $(1,792,494,975) $7,537,464,547

Net Assets:Beginning of period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 30,547,646,184 $ 23,010,181,637

End of period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 28,755,151,209 $ 30,547,646,184

Changes in Shares Outstanding:Investment SharesShares outstanding, beginning of period . . . . . . . . . . . . . . . . . . . . . . . . . . 23,269,369,379 16,474,001,311Shares sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,804,985,649 84,769,441,017Shares issued to holders in reinvestment of dividends . . . . . . . . . . . . . . . 188,987,377 251,212,211Shares redeemed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (42,550,761,819) (78,225,285,160)

Shares Outstanding, End of Period . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,712,580,586 23,269,369,379

Retirement SharesShares outstanding, beginning of period . . . . . . . . . . . . . . . . . . . . . . . . . . 7,278,317,773 6,536,207,412Shares sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36,670,905,413 81,982,678,589Shares issued to holders in reinvestment of dividends . . . . . . . . . . . . . . . 57,604,727 82,232,478Shares redeemed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (36,964,221,615) (81,322,800,706)

Shares Outstanding, End of Period . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,042,606,298 7,278,317,773


13

Financial Highlights — Investment Shares

Per ShareOperating Performance

Six MonthsEnded

(Unaudited)8/31/2019

Year Ended February 28 or 29,

2019 2018 2017 2016 2015

Net Asset Value,Beginning of Period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00

Increase/(Decrease)in Operations:Net investment income 0.009 0.014 0.004 0.0001 0.0001 0.0001

Net realized gainon investments 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001

Total fromInvestment Operations 0.009 0.014 0.004 0.0001 0.0001 0.0001

Less Distributions From:Net investment income (0.009) (0.014) (0.004) (0.000)1 (0.000)1 (0.000)1

Net realized gainon investments — — (0.000)1 (0.000)1 (0.000)1 (0.000)1

Total Distributions (0.009) (0.014) (0.004) (0.000)1 (0.000)1 (0.000)1

Net Asset Value,End of Period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00

Total Return2 0.88% 1.36% 0.36% 0.01% 0.01% 0.01%

Supplemental Data:Net assets, end of period(000’s omitted) $21,712,554 $23,269,338 $16,473,982 $15,986,777 $11,379,671 $11,385,586

Ratios to AverageNet Assets:3Expenses before waivers 0.69% 0.71% 0.70% 0.80% 0.81% 0.81%Expenses net of waivers 0.69% 0.71% 0.70% 0.47% 0.18% 0.09%Net investment income 1.74% 1.39% 0.36% 0.01% 0.01% 0.01%

1 Represents less than $0.0005 per share.2 Total return is calculated assuming an initial investment made at the net asset value at the beginning of the

period, reinvestment of all dividends and distributions at net asset value during the period and redemptionon the last day of the period and is not annualized.

3 Annualized for periods less than one year.


14

Financial Highlights — Retirement Shares

Per ShareOperating Performance

Six MonthsEnded

(Unaudited)8/31/2019

Year Ended February 28 or 29,

2019 2018 2017 2016 2015

Net Asset Value,Beginning of Period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00

Increase/(Decrease)in Operations:Net investment income 0.009 0.013 0.003 0.0001 0.0001 0.0001

Net realized gainon investments 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001

Total fromInvestment Operations 0.009 0.013 0.003 0.0001 0.0001 0.0001

Less Distributions From:Net investment income (0.009) (0.013) (0.003) (0.000)1 (0.000)1 (0.000)1

Net realized gainon investments — — (0.000)1 (0.000)1 (0.000)1 (0.000)1

Total Distributions (0.009) (0.013) (0.003) (0.000)1 (0.000)1 0.0001

Net Asset Value,End of Period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00

Total Return2 0.86% 1.35% 0.34% 0.01% 0.01% 0.01%

Supplemental Data:Net assets, end of period(000’s omitted) $7,042,598 $7,278,308 $6,536,200 $5,431,516 $3,185,729 $3,088,759

Ratios to AverageNet Assets:3Expenses before waivers 1.15% 1.17% 1.08% 0.91% 0.90% 0.89%Expenses net of waivers 0.72% 0.72% 0.72% 0.47% 0.18% 0.09%Net investment income 1.71% 1.35% 0.35% 0.01% 0.01% 0.01%

1 Represents less than $0.0005 per share.2 Total return is calculated assuming an initial investment made at the net asset value at the beginning of the

period, reinvestment of all dividends and distributions at net asset value during the period and redemptionon the last day of the period and is not annualized.

3 Annualized for periods less than one year.


15

Notes to Financial StatementsAugust 31, 2019 (Unaudited)

1. ORGANIZATION

The Edward Jones Money Market Fund (the “Fund”) is registered under the Investment Company Actof 1940, as amended (the “1940 Act”), as a diversified, open-end management investment company.The Fund was established under the laws of the Commonwealth of Massachusetts on January 9,1980. Passport Research, Ltd. (“Passport” or the “Adviser”), a wholly owned subsidiary of Edward D.Jones & Co., L.P. (“Edward Jones”), serves as the Fund’s investment adviser and administrator.

The Fund offers two classes of shares: Investment Shares and Retirement Shares. All shares ofthe Fund have equal rights with respect to voting, except on class specific matters.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies consistently followed by the Fund inthe preparation of its financial statements. The accounting policies are in conformity withgenerally accepted accounting principles (“GAAP”) in the United States of America. The Fund isan investment company and, accordingly, follows the investment company accounting andreporting guidance of the Financial Accounting Standards Board Accounting StandardsCodification Topic 946 – Investment Companies, which is part of GAAP.

a) Use of Estimates – The presentation of financial statements in conformity with GAAPrequires management to make estimates and assumptions that affect the reported amounts ofassets and liabilities at the date of the financial statements and the reported amounts ofrevenues and expenses during the reporting period. Actual results could differ from thoseestimates and assumptions.

b) Investment Valuation – All securities and other investments are recorded at their estimatedfair value, as described in Note 4.

c) Federal Income Taxes – It is the Fund’s policy to comply with the Subchapter M of the InternalRevenue Code of 1986, as amended (the “Code”), applicable to regulated investment companies,and to distribute substantially all of its net investment income and capital gains to shareholders. Asa result, no provision for Federal income tax is recorded in the financial statements.

The Adviser has reviewed the Fund’s tax positions for all open tax years (the prior three years oftax filings) and has concluded that there is no tax liability/benefit resulting from uncertainincome tax positions taken or expected to be taken in future tax returns. The Fund is also notaware of any tax position for which it is reasonably possible that the total amounts ofunrecognized tax expense will significantly change in the next twelve months.

As of August 31, 2019, the Fund had no tax examinations or audits in progress.

d) Distributions to Shareholders – Distributions from net investment income are generallydeclared daily and paid monthly and are declared separately for each class. No class haspreferential dividend rights; differences in per share dividend rates are generally due todifferences in the class specific expenses.

e) Indemnifications – Under the Fund’s organizational documents, the officers and Board ofTrustees (the “Trustees”) are entitled to certain indemnification rights against certain liabilitiesthat may arise out of performance of their duties to the Fund. Additionally, in the normal courseof business, the Fund may enter into contracts with service providers that contain general


Notes to Financial StatementsAugust 31, 2019 (Unaudited) (Continued)

indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown,as this would involve future claims against the Fund that have not yet occurred.

f) Investment Transactions, Income and Expense Allocation – Investment transactions arerecorded on trade date. Securities gains and losses, if any, are calculated on the basis ofidentified cost. Interest income is recognized on an accrual basis while discounts and premiumson securities purchased are accreted or amortized, respectively, using the constant yield methodover the life of the security. In calculating the NAV of each class, investment income, realized andunrealized gains and losses and expenses, other than class specific expenses, are allocated dailyto each class of shares based on the relative proportion of average daily net assets of each class.

3. SECURITIES AND OTHER INVESTMENTS

Repurchase Agreements

In a repurchase agreement, the Fund buys a security from another party (the counterparty),usually a financial institution, with the agreement that it be sold back in the future. Repurchaseagreements subject the Fund to counterparty risk, meaning that the Fund could lose money if theother party fails to perform under the terms of the agreement. The Fund mitigates this risk byseeking to ensure that the Fund’s repurchase agreements are collateralized by cash and/or U.S.government securities. The minimum amount of collateral held by the Fund is equal to the valueof the repurchase price plus accrued interest. All collateral is held by the Fund’s custodian (or,with multi-party agreements, the agent’s bank) and is monitored daily to seek to ensure that itsmarket value is at least equal to the repurchase price under the agreement. In the event of adefault by the counterparty, realization of the collateral proceeds could be delayed or limited andthe value of the collateral may decline. Investments in repurchase agreements are also based ona review of the credit quality of the repurchase agreement counterparty.

The Fund may enter into repurchase agreements in which eligible securities and/or cash aretransferred into joint trading accounts maintained by the custodian or sub-custodian forinvestment companies and other clients advised by the Sub-adviser (as defined below) and itsaffiliates. The Fund will participate on a pro rata basis with the other investment companies andclients in its share of the securities transferred under such repurchase agreements and in itsshare of proceeds from any repurchase or other disposition of such securities.

Repurchase agreements are subject to Master Netting Agreements, which are agreementsbetween the Fund and its counterparties that provide for the net settlement of all transactionsand collateral with the Fund through a single payment in the event of default or termination.Amounts presented on the Portfolio of Investments and Statement of Assets and Liabilities aregross settlement amounts. As indicated above, the cash or value of securities to be repurchased,as shown on the Portfolio of Investments, exceeds the repurchase price to be paid under theagreement, reducing the net settlement amount to zero.

4. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS

a) Investment Valuation Policies – Portfolio securities are valued at amortized cost, whichapproximates fair value, in accordance with Rule 2a-7 under the 1940 Act. The amortized cost ofan investment is determined by valuing it at its original cost and thereafter accreting andamortizing any discount or premium from its face value at a constant rate until maturity. Ifamortized cost is determined not to approximate fair value, the value of the portfolio securitieswill be determined in accordance with the procedures described below.



The Trustees have ultimate responsibility for determining the fair value of investments. TheTrustees have established a valuation committee (the “Valuation Committee”) comprised ofofficers and representatives of the Fund and Passport to assist in determining fair value ofsecurities and in overseeing the comparison of amortized cost to market-based value. TheTrustees have also authorized the use of pricing services recommended by the ValuationCommittee to provide fair value evaluations of the current value of certain investments forpurposes of monitoring the relationship of market-based value and amortized cost. The ValuationCommittee employs various methods for reviewing third-party pricing-service evaluationsincluding periodic reviews of third-party pricing services’ policies, procedures and valuationmethods (including key inputs and assumptions) and review of price challenges by the Adviser orSub-adviser based on recent market activity.

In the event that market quotations and price evaluations are not available for an investment, theValuation Committee determines the fair value of the investment in accordance with proceduresadopted by the Trustees. The Trustees periodically review the fair valuations made by theValuation Committee and any changes made to the procedures. The Trustees retain the authorityto make or ratify any valuation decisions.

b) Fair Value Hierarchy – Various inputs are used in determining the value of the Fund’sinvestments. These inputs are summarized in the three broad levels listed below:

Level 1 – quoted prices in active markets for identical securities.

Level 2 – other significant observable inputs (including quoted prices for similar securities,interest rates, prepayment speeds, credit risk, etc.). Also includes securities valued atamortized cost.

Level 3 – significant unobservable inputs (including the Fund’s own assumptions).

The inputs or methodology used for valuing securities are not an indication of the risk associatedwith investing in those securities.

As of August 31, 2019, all investments of the Fund were valued at amortized cost, which isconsidered a Level 2 input, in valuing the Fund’s assets.

5. FEES AND OTHER TRANSACTIONS WITH AFFILIATES

Investment Adviser Fee – Passport, an investment adviser registered with the U.S. SecuritiesExchange Commission (“SEC”), serves as the investment adviser and administrator to the Fundpursuant to an Investment Management and Administration Agreement with the Fund datedJanuary 27, 2017 (the “Advisory Agreement”).

As the Adviser, Passport has overall supervisory responsibility for the general management andinvestment of the Fund’s investment portfolio, is subject to review and approval by the Trusteesand sets the Fund’s overall investment strategies. The Adviser is also responsible for the oversightand evaluation of the Fund’s Sub-adviser (as detailed below). For its investment advisory andadministrative services, the Adviser receives an annual fee of 0.20% of the Fund’s average dailynet assets.

Expense Limitation Agreement – The Adviser has contractually agreed to waive fees and/orreimburse Fund operating expenses to the extent necessary to limit the Fund’s total annualoperating expenses (excluding acquired fund fees and expenses, portfolio transaction expenses,



interest expense in connection with investment activities, taxes and extraordinary or non-routineexpenses) to an annual rate of 0.72% of the average daily net assets of the Fund’s InvestmentShares and Retirement Shares (the “Expense Limitation Agreement”). Any payment made by theAdviser in connection with the Expense Limitation Agreement is subject to recoupment by theAdviser in the three-year period following the payment, if (i) requested by the Adviser, and (ii) theaggregate amount actually paid by a class of the Fund toward operating expenses (taking intoaccount other recoupments) does not exceed the expense cap (a) at the time of the fee waiverand/or expense reimbursement and (b) at the time of recoupment.

For the period ended August 31, 2019 the amounts waived by the Adviser, as well as the amountsavailable for potential future recoupment by the Adviser and the expiration schedule atAugust 31, 2019 were as follows:

Fees waivedfor the Period

EndedAugust 31,

2019

Total PotentialRecoupment

AvailableAugust 31,

2019

Potential Recoupment AmountsExpiring During the Fiscal

Year Ending February 28/29:

2020 2021Investment Share Class $ — $ — $ — $ —Retirement Share Class $ — $36,524 $36,524 $ —

This Expense Limitation Agreement will remain in effect until June 30, 2020, and may only bechanged or eliminated with the approval of the Trustees during such period. The ExpenseLimitation Agreement shall be automatically renewed for successive one-year periods thereafterunless the Adviser provides the Trustees with written notice of its election to not renew theagreement at least 60 days prior to the end of the current one-year term. Additionally, on behalf ofthe Adviser, Edward Jones voluntarily waived $15,030,359 of transfer agent fees during the periodended August 31, 2019. Edward Jones waived these fees to ensure that the net expense ratio ofeach class of shares did not exceed 0.72%. These waivers are not subject to future recoupment.

Sub-advisory Fee – Pursuant to the terms of the Sub-advisory and Sub-AdministrationAgreement, Federated Investment Management Company (the “Sub-adviser”) providessub-advisory services to the Fund, including buying and selling portfolio securities, andFederated Administrative Services (the “Sub-Administrator”), an affiliate of the Sub-adviser,provides sub-administrative services to the Fund, in each case subject to the supervision of theAdviser and the Trustees. For its sub-advisory and sub-administrative services, the Sub-adviser/Sub-Administrator receives an annual fee, payable monthly, directly from the Fund based on theaverage daily net assets of the Fund. The payable amount for the sub-advisory and sub-administrative services received by the Fund is included in the Payable to Adviser on theStatement of Assets and Liabilities. For the purposes of determining the compensation under theAdvisory Agreement, the Fund will be deemed to have paid the Adviser, and the Adviser will bedeemed to have received, an amount equal to any payment made by the Fund pursuant to theSub-advisory and Sub-Administration Agreement. The amounts paid to the Sub-adviser/Sub-Administrator are included in the investment adviser fees in the Statement of Operations.

12b-1 Distribution Service Fees – The Trustees have adopted, and the Fund’s shareholdershave approved, a Rule 12b-1 Plan, pursuant to which distribution and/or service fees of 0.25% ofthe average daily net assets of the Investment Shares and Retirement Shares of the Fund arepaid to Edward Jones for the sale and distribution of Fund shares, and for services provided toInvestment Shares and Retirement Shares shareholders.



Shareholder Service Fees – The Trustees have adopted a shareholder services plan, pursuantto which Investment Shares and Retirement Shares may pay shareholder service fees of 0.15% oftheir average daily net assets to Edward Jones for providing services to shareholders andmaintaining shareholder accounts.

Transfer Agent – Edward Jones serves as transfer agent for the Fund. The transfer agent feepaid to Edward Jones is based on the size, type and number of accounts in the Fund.

Affiliated Transactions – The Fund may participate in purchase and sale transactions withother funds or accounts that have a common investment adviser or Sub-adviser, commonlyreferred to as “cross trades.” These cross trades are executed in accordance with proceduresadopted by the Trust’s Board and comply with Rule 17a-7 of the 1940 Act, which require, amongother things, that such cross trades be effected at the independent current market price of thesecurity. During the period ended August 31, 2019, the Fund did not participate in any purchasesor sales cross trades with other funds or accounts.

6. FEDERAL INCOME TAX INFORMATION

The tax character of distributions as reported on the Statements of Changes in Net Assets for theyears ended February 28, 2019 and February 28, 2018 were as follows:

2019 2018Ordinary income1 $347,588,814 $76,854,673Long-term capital gains — $ 361

1 For tax purposes, short-term capital gain distributions are treated as ordinary income distributions.

As of February 28, 2019, the components of distributable earnings on a tax basis were as follows:

Undistributed ordinary income $11,298,480

At February 28, 2019, the Fund had the following capital loss carryforwards. The capital losscarryforwards do not have an expiration date and will retain their character as either short-termor long-term losses. The ability to utilize capital loss carryforwards in the future may belimited under the Code and related regulations based on the results of future transactions.

Short-Term $(6,085)Long-Term $(3,609)

7. RISKS

Investing in the Fund may involve certain risks including, but not limited to, those describedbelow. Please refer to the Fund’s prospectus and statement of additional information for moreinformation on risks associated with investing in the Fund.

Investment Risk – You could lose money by investing in the Fund. Although the Fund seeks topreserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. Aninvestment in the Fund is not insured or guaranteed by the Federal Deposit InsuranceCorporation or any other government agency. The Fund’s sponsor has no legal obligation toprovide financial support to the Fund, and you should not expect that the sponsor will providefinancial support to the Fund at any time.



Government Securities Risk – Although government securities are considered to be amongthe safest investments, they are not guaranteed against price movements due to changinginterest rates. Obligations issued by some U.S. government agencies are backed by the U.S.Treasury, while others are backed solely by the ability of the agency to borrow from the U.S.Treasury or by the agency’s own resources.

Counterparty Risk – When the Fund enters into an agreement, the Fund is exposed to the riskthe other party (i.e., the counterparty) will not fulfill its contractual obligation. For example, in arepurchase agreement, there exists the risk, when the Fund buys a security from a counterpartythat agrees to repurchase the security at an agreed upon price (usually higher) and time, thecounterparty will not repurchase the security.

Interest Rate Risk – Prices of fixed-income securities generally fall when interest rates rise. Ingeneral, interest rate changes have a greater effect on the price of fixed-income securities withlonger maturities. Although variable and floating rate securities are generally less sensitive tointerest rate changes than fixed rate instruments, the value of floating rate and variablerate securities may decline if their interest rates do not rise as quickly, or as much, as generalinterest rates.

Cybersecurity Risk – The Fund and its service providers may be susceptible to operational,information, security and related risks. While the Fund’s service providers have establishedbusiness continuity plans in the event of such cyber incidents, there are inherent limitations insuch plans and systems. Additionally, the Fund cannot control the cybersecurity plans andsystems put in place by its service providers or any other third parties whose operations mayaffect the Fund or their shareholders.

8. SUBSEQUENT EVENTS

The Fund has evaluated subsequent events through the date of issuance of this report and hasdetermined that there are no material events that would require accrual or disclosure.


Board of Trustees and Trust Officers (Unaudited)The Board of Trustees is responsible for managing the Fund’s business affairs and for exercisingall the Fund’s powers except those reserved for the shareholders. The following tables giveinformation about each Trustee and the officers of the Fund. Where required, the tablesseparately list Trustees who are “interested persons” of the Fund as defined by the 1940 Act (i.e.,“Interested” Trustees) and those who are not (i.e., the “Independent” Trustees). Unless otherwisenoted, the address of each person listed is 12555 Manchester Road, St. Louis, MO 63131. NoTrustee oversees, nor receives compensation from, any other fund within the Fund Complex. TheFund Complex includes the Fund and the nine series of the Bridge Builder Trust, which areadvised by Olive Street Investment Advisers, LLC, an affiliate of the Adviser. The Fund’sStatement of Additional Information includes additional information about the Trustees and isavailable, without charge and upon request, by calling 1-800-441-2357.

INDEPENDENT TRUSTEES OF THE FUND1

Name Role Term

Principal OccupationFor the Past Five Yearsor Longer

Other DirectorshipsHeld During PastFive Years

Timothy Jacoby(Born: 1952)

Trustee Indefinite Term;Began serving:January 2017

Retired; PreviouslyPartner at Deloitte &Touche InvestmentManagement(2000 - 2014)

IndependentTrustee, ExchangeTraded ConceptsTrust and ExchangeListed Funds Trust(2014 - present),Source ETF Trust(2014 - 2015)

MaureenLeary-Jago(Born: 1957)

LeadIndependentTrustee

Indefinite Term;Began serving:January 2017

Retired; PreviouslySenior GlobalAdvisor at MFS(2004 - 2016)

None

David Sylvester(Born: 1950)

Trustee Indefinite Term;Began serving:January 2017

Retired; PreviouslyPortfolio Manager atWells Fargo & Co.(1979 - 2015)

Trustee, MinnehahaAcademy

INTERESTED TRUSTEE OF THE FUND2

Name Role Term

Principal OccupationFor The Past Five Yearsor Longer

Other DirectorshipsHeld During PastFive Years

Lena Haas(Born: 1975)

Chairmanand Trustee

Indefinite Term,Began Serving:October 2018

Principal, Bankingand Trust Services atEdward Jones(November2017 – present);Previously Senior VicePresident, Head ofInvesting ProductManagement andRetirement, E*TRADEFinancial andPresident of E*TRADECapital Management(2011 – 2017)

Director, CraftAlliance Center of Artand Design


Board of Trustees and Trust Officers (Unaudited) (Continued)OFFICERS OF THE FUND

Name Role TermPrincipal OccupationFor The Past Five Years

Julius A. Drelick, III(Born: 1966)

President Officersince: 2017

Director of Fund Administration andStrategic Products at Edward Jones(since 2016); Previously, VicePresident of the Fund (2017 - 2019);Senior Vice President and ChiefCompliance Officer at VoyaInvestment Management, LLC (2014 -2016); Senior Vice President of MutualFund Compliance at Voya InvestmentManagement, LLC (2013); VicePresident, Head of Mutual FundProduct Development and StrategicPlanning at Voya InvestmentManagement, LLC (2007 - 2013)

Aaron J. Masek(Born: 1974)

Treasurer Officersince: 2017

Director, Mutual Fund Oversight atEdward Jones (since 2015); VicePresident and Treasurer at AQR Funds(2010 - 2015)

Alan J. Herzog(Born: 1973)

ChiefCompliance Officer

Officersince: 2017

Principal and Director of InvestmentAdvisory and Mutual FundCompliance at Edward Jones(since 2013)

Helge K. Lee(Born: 1946)

Secretary Officersince: 2017

Associate General Counsel andLeader of the Fiduciary Team in theLegal Division at Edward Jones (since2014); Special Counsel, Godfrey &Kahn (2005 - 2014)

Evan S. Posner(Born: 1979)

Assistant Secretary Officersince: 2019

Associate General Counsel, EdwardJones (since 2018); Voya InvestmentManagement, Vice President andCounsel (2012 - 2018)

1 The Trustees of the Fund who are not “interested persons” of the Fund as defined by the 1940 Act(“Independent Trustees”).

2 Ms. Haas is an “interested person” of the Fund as defined by the 1940 Act by virtue of the fact that she is anaffiliated person of the Adviser’s parent company, The Jones Financial Companies, L.L.L.P., and theFund’s distributor.


Additional Information (Unaudited)

Proxy Voting Procedures and Proxy Voting Record

A description of the policies and procedures that the Fund uses to determine how to vote proxiesrelating to portfolio securities is available, free of charge, by calling 1-800-441-2357. Thisinformation is also available through the U.S. Securities and Exchange Commission’s website athttp://www.sec.gov. Information regarding how the Fund voted proxies relating to portfoliosecurities during the 12-month period ending June 30 is available without charge, upon request,by calling 1-800-441-2357. This information is also available through the U.S. Securities andExchange Commission’s website at http://www.sec.gov.

Form N-MFP Disclosure

The Fund files its complete schedule of portfolio holdings with the U.S. Securities and ExchangeCommission monthly on Form N-MFP, which is available immediately upon filing. The Fund’sForm N-MFP filings are available on the U.S. Securities and Exchange Commission’s website athttp://www.sec.gov. Information regarding the Fund’s Form N-MFP filings is also available,without charge, by calling, 1-800-441-2357.

Household Delivery of Shareholder Documents

To reduce expenses the Fund may mail only one copy of the prospectus, Statement of AdditionalInformation and each annual and semi-annual report to those addresses shared by two or moreaccounts. If you wish to receive individual copies of these documents, please call the Fundat 1-800-441-2357. You will begin receiving individual copies thirty days after your requestis received.


Privacy Policy (Unaudited)FACTS What Does the Edward Jones Money Market Fund (“EJMMF”) Do with Your

Personal Information?

Why? Financial companies choose how they share your personal information. Federallaw gives consumers the right to limit some but not all sharing. Federal lawalso requires us to tell you how we collect, share and protect your personalinformation. Please read this notice carefully to understand what we do.

What? The types of personal information we collect and share depend on the productor service you have with us. This information can include:

* Social Security number* Account balances* Transaction history

* Investment experience* Income and risk tolerance* Assets and account transactions

When you are no longer our customer, we continue to share your informationas described in this notice.

How? All financial companies need to share customers’ personal information to runtheir everyday business. In the section below, we list the reasons financialcompanies can share their customers’ personal information; the reasonsEJMMF chooses to share; and whether you can limit this sharing.

REASONS WE CAN SHARE YOUR PERSONALINFORMATION

DOES EJMMFSHARE?

CAN YOU LIMITTHIS SHARING?

For our everyday business purposes—such as toprocess your transactions, maintain your account(s),respond to court orders and legal investigations, orreport to credit bureaus

Yes No

For our marketing purposes—to offer our productsand services to you

No We don’t share

For joint marketing with other financial companies No We don’t share

For our affiliates’ everyday business purposes—information about your transactions and experiences

Yes No

For our affiliates’ everyday business purposes—information about your creditworthiness

No We don’t share

For nonaffiliates to market to you No We don’t share

QUESTIONS? Call 1-800-441-2357 or go towww.edwardjones.com/moneymarket

WHO WE ARE

Who is providingthis notice?

The Edward Jones Money Market Fund (“EJMMF”)


Privacy Policy (Unaudited) (Continued) 08/2019

WHAT WE DO

How does the EJMMFprotect my personalinformation?

To protect your personal information from unauthorizedaccess and use, we use security measures that comply withfederal law. These measures include computer safeguards andsecured files and buildings.

How does theEJMMF collect mypersonal information?

We collect your personal information, for example, when youdeposit money with us, if you ever were to give us your contactinformation, open an account with us, provide us accountinformation or make a wire transfer. We also collect yourpersonal information from others, such as credit bureaus,affiliates or other companies.

Why can’t I limitall sharing?

Federal law gives you the right to limit only:

* Sharing for affiliates’ everyday business purposes—information about your creditworthiness* Affiliates from using your information to market to you* Sharing for nonaffiliates to market to you

State laws and individual companies may give you additionalrights to limit sharing. See the Other Important Informationsection for your rights under state law.

DEFINITIONS

Affiliates Companies related by common ownership or control. They canbe financial and nonfinancial companies.

Passport Research, Ltd. (“Passport”) our investment adviser,may be deemed to be affiliated with us. Passport is an indirectsubsidiary of The Jones Financial Companies, L.L.L.P. (“JFC”),and is affiliated with other subsidiaries of JFC, includingEdward D. Jones & Co., L.P., and Edward Jones Trust Company.

Nonaffiliates Companies not related by common ownership or control. Theycan be financial and nonfinancial companies.

EJMMF does not share with non-affiliates so they can marketto you.

Joint Marketing A formal agreement between nonaffiliated financial companiesthat together market financial products or services to you.

EJMMF does not currently engage in joint marketing efforts.

OTHER IMPORTANT INFORMATION

Californiaresidents

We will not share information we collect about you withcompanies outside of EJMMF, unless permitted by law. We alsolimit sharing among EJMMF and our affiliate companies to theextent required by California law.

Nevada residents We are providing this notice to you pursuant to state law.Nevada law requires us to disclose that you may request to beplaced on our internal “Do Not Call” list at any time by calling1-800-441-2357, and that you may obtain further informationby contacting the Nevada Attorney General, 555 E. WashingtonAve., Suite 3900, Las Vegas, NV 89101; phone 702-486-3132;email [email protected].


Investment Adviser and AdministratorPassport Research, Ltd.12555 Manchester Road

St. Louis, MO 63131

Sub-adviserFederated Investment Management Company

c/o Federated Investors, Inc.Federated Investors Tower

1001 Liberty AvenuePittsburgh, PA 15222

Sub-AdministratorFederated Administrative Services

c/o Federated Investors, Inc.Federated Investors Tower

1001 Liberty AvenuePittsburgh, PA 15222

Administrative Services ProviderState Street Bank & Trust Co.

800 Pennsylvania AvenueTower 1

Kansas City, MO 64105

Transfer Agent, Distributor & Dividend Disbursing AgentEdward D. Jones & Co., L.P.

12555 Manchester RoadSt. Louis, MO 63131

Custodian & Fund AccountantState Street Bank & Trust Co.

Channel Center1 Iron Street

Boston, MA 02210

Legal CounselMorgan, Lewis & Bockius, LLP

1701 Market StreetPhiladelphia, PA 19103

You could lose money by investing in the Fund. Although the Fund seeks to preservethe value of your investment at $1.00 per share, it cannot guarantee it will do so.An investment in the Fund is not insured or guaranteed by the Federal DepositInsurance Corporation or any other government agency. The Fund’s sponsor has nolegal obligation to provide financial support to the Fund, and you should not expectthat the sponsor will provide financial support to the Fund at any time.

This Report is authorized for distribution to prospective investors only whenpreceded or accompanied by the Fund’s Prospectus. Investors should carefullyconsider the investment objectives, risks, and charges and expenses of the Fundprior to investing. The prospectus contains this and other important information andshould be read carefully before investing.

Edward Jones12555 Manchester RoadSaint Louis, Missouri 631311-800-441-2357www.edwardjones.com

Investment Company Act File No. 811-2993

CUSIP 48019P102

CUSIP 48019P201