Alameda City Council
September 17, 2024

Annual Investment Report
California
EXHIBIT 2
City of Alameda, California
Investment Portfolio Summary Report
June 30, 2024
Average
Book % of Duration Average Market
Value Total in Days Yield Value
Cash on Hand 9,730$ 0.00% - - 9,730$ Cash on Deposit 179,308,220 53.88% - - 179,308,220 Total Cash on Hand 179,317,950 53.89% - - 179,317,950 Local Agency Investment Fund (LAIF) 53,670,236 16.13% 0 4.36% 53,472,517 Certificates of Deposit 1,773,749 0.53% 470 5.18% 1,779,792 Federal/Agency Issues 44,682,628 13.43% 950 3.82% 44,110,708 Municipal Issues 205,000 0.06% 276 1.09% 198,379 Medium Term Notes/Commercial Paper 25,619,684 7.70% 848 3.78% 25,116,297 Asset Backed Securities 25,302,864 7.60% 1,009 3.26% 24,878,480 Supranationals 2,197,336 0.66% 1,094 2.67% 2,128,778 Total Pooled Investment Portfolio 153,451,498 46.11% 280 3.91% 151,684,950 Total Portfolio 332,769,448$ 100.00% 331,002,900$ Amount over (under) Market Value vs. Book Value (1,766,547) % of Portfolio -0.53%
Total Callable Investments 23,616,249$
% of Portfolio 15.57%
Irrevocable Trust - Pension 17,206,913$ 19,215,879$ Irrevocable Trust - OPEB 20,822,806 24,374,815 Total Irrevocable Trust (Pension/OPEB) 38,029,719$ 43,590,694$ I verify that this investment portfolio is in conformity with all state laws and the City's investment policy, which is reviewed annually by the City Council and the City Treasurer of the City of Alameda.

Yield shown does not account for change in market value of investments Margaret O'Brien, Finance Director
Investments by Type
Cash on Hand
Cash on Deposit
Local Agency Investment Fund (LAIF)
Certificate of Deposit
Federal/Agency Issues
Municipal Issues
Medium Term Notes/Commercial Paper
Asset Backed Securities
Supranationals
City of Alameda
Detail for Investment Portfolio Summary Report
June 30, 2024

BOOK VALUE MARKET
VALUE
June 30, 2024 June 30, 2024
CASH ON HAND:
- PETTY CASH - 5,280$ - - - - - - 5,280$
- CHANGE BOXES - 4,450 - - - - - - 4,450 - TOTAL CASH ON HAND - 9,730$ - - - - - - 9,730$ CASH ON DEPOSIT:
- WELLS FARGO GENERAL CHECKING - 179,018,833$ - - - - - - 179,018,833$ - FIDELITY - CHANDLER & PFM MONEY MARKET - 289,387 - - - - - - 289,387 - TOTAL CASH ON DEPOSIT - 179,308,220$ - - - - - - 179,308,220$ LOCAL AGENCY INVESTMENT FUND:
- LOCAL AGENCY INVESTMENT FUND - 53,670,236$ 4.52% 4.36% 4/1/2024 6/30/2024 90 0 53,472,517$ - TOTAL LOCAL AGENCY INVESTMENT FUND - 53,670,236$ 4.52% 4.36% - - - - 53,472,517$ CERTIFICATES OF DEPOSIT:
- BANK OF MARIN CD - 97,296$ 3.50% 3.50% 3/6/2024 9/6/2024 184 68 97,296$ - BEACON BUSINESS BANK CD - 101,454 3.60% 3.60% 2/2/2024 8/2/2024 182 33 101,454 PFM CREDIT AGRICOLE CRP&IN 22536DWD6 350,000 4.76% 4.76% 2/1/2024 2/1/2027 1,096 946 346,273 PFM NATIXIS NY 63873QP65 325,000 5.61% 5.61% 9/18/2023 9/8/2026 1,086 800 329,843 PFM NNORDEA BK ABP NY 65558UYF3 450,000 5.53% 5.53% 11/2/2022 11/3/2025 1,097 491 452,277 PFM Toronto Dominion Bank New York 89115B6K1 450,000 5.60% 5.58% 10/27/2022 10/27/2025 1,096 484 452,651 - TOTAL CERTIFICATES OF DEPOSIT - 1,773,749$ 5.19% 5.18% - - 790 470 1,779,792$

FEDERAL / AGENCY ISSUES:

Chandler U S TREASURY NOTE 91282CAM3 195,688$ 0.25% 0.55% 4/29/2021 9/30/2025 1,615 457 188,578$ Chandler U S TREASURY NOTE 91282CAM3 988,086 0.25% 0.55% 2/19/2021 9/30/2025 1,684 457 942,890 Chandler U S TREASURY NOTE 91282CAZ4 1,080,277 0.38% 0.76% 3/26/2021 11/30/2025 1,710 518 1,031,976 Chandler U S TREASURY NOTE 91282CCW9 258,588 0.75% 0.86% 9/17/2021 8/31/2026 1,809 792 239,119 Chandler U S TREASURY NOTE 91282CCZ2 495,156 0.88% 1.08% 10/12/2021 9/30/2026 1,814 822 460,175 Chandler U S TREASURY NOTE 91282CCZ2 502,370 0.88% 1.08% 10/18/2021 9/30/2026 1,808 822 469,379 Chandler U S TREASURY NOTE 91282CCZ2 507,350 0.88% 1.08% 10/6/2021 9/30/2026 1,820 822 469,379 Chandler U S TREASURY NOTE 91282CDG3 506,892 1.13% 1.25% 11/15/2021 10/31/2026 1,811 853 470,654 Chandler U S TREASURY NOTE 91282CET4 489,824 2.63% 3.06% 6/9/2022 5/31/2027 1,817 1,065 474,180 Chandler U S TREASURY NOTE 91282CEW7 503,047 3.25% 3.12% 7/13/2022 6/30/2027 1,813 1,095 482,440 Chandler U S TREASURY NOTE 91282CFB2 196,609 2.75% 3.12% 8/22/2022 7/31/2027 1,804 1,126 189,906 Chandler U S TREASURY NOTE 91282CFH9 194,844 3.13% 3.40% 9/19/2022 8/31/2027 1,807 1,157 191,876 Chandler U S TREASURY NOTE 91282CFH9 345,543 3.13% 3.40% 9/1/2022 8/31/2027 1,825 1,157 335,783 Chandler U S TREASURY NOTE 91282CFH9 891,527 3.13% 3.40% 9/8/2022 8/31/2027 1,818 1,157 863,442 Chandler U S TREASURY NOTE 91282CHQ7 998,867 4.13% 4.15% 8/7/2023 7/31/2028 1,820 1,492 989,410 Chandler U S TREASURY NOTE 91282CHX2 247,363 4.38% 4.62% 9/25/2023 8/31/2028 1,802 1,523 249,708 Chandler U S TREASURY NOTE 91282CJA0 869,463 4.63% 4.77% 10/4/2023 9/30/2028 1,823 1,553 882,420 Chandler USA TREASURY NTS 91282CAT8 97,750 0.25% 0.50% 3/26/2021 10/31/2025 1,680 488 93,981 Chandler USA TREASURY NTS 91282CAT8 989,219 0.25% 0.50% 1/11/2021 10/31/2025 1,754 488 939,810 Chandler USA TREASURY NTS 91282CEF4 487,754 2.50% 3.05% 6/9/2022 3/31/2027 1,756 1,004 473,925 Chandler USA TREASURY NTS 91282CFM8 1,231,934 4.13% 4.45% 10/20/2022 9/30/2027 1,806 1,187 1,235,838 Chandler USA TREASURY NTS 91282CGC9 456,223 3.88% 3.57% 1/25/2023 12/31/2027 1,801 1,279 441,369 Chandler USA TREASURY NTS 91282CGH8 1,183,172 3.50% 3.81% 2/7/2023 1/31/2028 1,819 1,310 1,162,176 Chandler USA TREASURY NTS 91282CHA2 501,738 3.50% 3.42% 5/5/2023 4/30/2028 1,822 1,400 483,635 Chandler USA TREASURY NTS 91282CHE4 983,477 3.63% 4.00% 6/14/2023 5/31/2028 1,813 1,431 971,520

PURCHASE
DATE

INVESTMENT
HELD WITH DESCRIPTION CUSIP # RATE

YIELD TO

MATURITY
(At Purchase)

MATURITY
DATE

TOTAL LIFE
(DAYS)

REMAINING

LIFE (DAYS)
City of Alameda
Detail for Investment Portfolio Summary Report
June 30, 2024

BOOK VALUE MARKET
VALUE
June 30, 2024 June 30, 2024

PURCHASE
DATE

INVESTMENT
HELD WITH DESCRIPTION CUSIP # RATE

YIELD TO

MATURITY
(At Purchase)

MATURITY
DATE

TOTAL LIFE
(DAYS)

REMAINING

LIFE (DAYS)
Chandler USA TREASURY NTS 91282CJF9 250,459 4.88% 4.83% 10/30/2023 10/31/2028 1,828 1,584 254,668 Chandler USA TREASURY NTS 91282CJR3 891,246 3.75% 3.97% 1/4/2024 12/31/2028 1,823 1,645 877,005 Chandler USA TREASURY NTS 91282CKG5 975,820 4.13% 4.68% 4/18/2024 3/31/2029 1,808 1,735 989,810 Chandler USA TREASURY NTS 91282CKT7 805,719 4.50% 4.34% 6/26/2024 5/31/2029 1,800 1,796 805,440 Chandler USA TREASURY NTS 4 % 29-FEB-20 91282CGP0 857,504 4.00% 3.80% 3/14/2023 2/29/2028 1,813 1,339 837,055 PFM FEDERAL HOME LN BKS 1 % 23-MAR 3130ALGJ7 440,978 1.00% 5.04% 9/5/2023 3/23/2026 930 631 456,061 PFM U S TREASURY NOTE 9128286F2 1,373,232 2.50% 3.87% 5/1/2023 2/28/2026 1,034 608 1,371,890 PFM U S TREASURY NOTE 91282CHH7 595,875 4.13% 4.37% 6/29/2023 6/15/2026 1,082 715 593,112 PFM U S TREASURY NOTE 91282CHM6 1,297,816 4.50% 4.56% 8/1/2023 7/15/2026 1,079 745 1,294,410 PFM USA TREASURY NTS 91282CGE5 497,148 3.88% 4.08% 2/6/2023 1/15/2026 1,074 564 492,480 PFM USA TREASURY NTS 91282CGE5 499,336 3.88% 4.08% 1/31/2023 1/15/2026 1,080 564 492,480 PFM USA TREASURY NTS 91282CGV7 74,886 3.75% 3.83% 5/1/2023 4/15/2026 1,080 654 73,658 PFM USA TREASURY NTS 91282CGV7 174,439 3.75% 3.83% 4/20/2023 4/15/2026 1,091 654 171,869 PFM USA TREASURY NTS 91282CGV7 473,961 3.75% 3.83% 5/17/2023 4/15/2026 1,064 654 466,502 PFM USA TREASURY NTS 91282CGV7 499,570 3.75% 3.83% 5/16/2023 4/15/2026 1,065 654 491,055 PFM USA TREASURY NTS 91282CHB0 3,068,637 3.63% 3.99% 6/1/2023 5/15/2026 1,079 684 3,036,791 PFM USA TREASURY NTS 91282CHU8 346,008 4.38% 4.80% 9/19/2023 8/15/2026 1,061 776 347,704 PFM USA TREASURY NTS 91282CHU8 1,485,410 4.38% 4.80% 9/6/2023 8/15/2026 1,074 776 1,490,160 PFM USA TREASURY NTS 91282CHY0 1,017,793 4.63% 4.88% 10/3/2023 9/15/2026 1,078 807 1,023,637 PFM USA TREASURY NTS 91282CJC6 2,693,777 4.63% 4.71% 11/7/2023 10/15/2026 1,073 837 2,697,570 PFM USA TREASURY NTS 91282CJK8 75,615 4.63% 4.32% 12/7/2023 11/15/2026 1,074 868 74,965 PFM USA TREASURY NTS 91282CJK8 1,965,463 4.63% 4.32% 12/6/2023 11/15/2026 1,075 868 1,949,084 PFM USA TREASURY NTS 91282CJP7 1,660,441 4.38% 4.14% 1/4/2024 12/15/2026 1,076 898 1,640,529 PFM USA TREASURY NTS 91282CJV4 149,139 4.25% 4.56% 2/15/2024 1/31/2026 716 580 148,559 PFM USA TREASURY NTS 91282CKA8 1,243,994 4.13% 4.30% 3/7/2024 2/15/2027 1,075 960 1,235,650 PFM USA TREASURY NTS 91282CKE0 546,068 4.25% 4.76% 4/1/2024 3/15/2027 1,078 988 545,595 PFM USA TREASURY NTS 91282CKE0 695,270 4.25% 4.76% 4/3/2024 3/15/2027 1,076 988 694,393 PFM USA TREASURY NTS 91282CKE0 863,003 4.25% 4.76% 4/10/2024 3/15/2027 1,069 988 867,991 PFM USA TREASURY NTS 91282CKH3 249,170 4.50% 4.68% 4/3/2024 3/31/2026 727 639 248,693 PFM USA TREASURY NTS 91282CKJ9 99,559 4.50% 4.62% 5/8/2024 4/15/2027 1,072 1,019 99,852 PFM USA TREASURY NTS 91282CKJ9 199,367 4.50% 4.62% 5/14/2024 4/15/2027 1,066 1,019 199,704 PFM USA TREASURY NTS 91282CKR1 1,524,404 4.50% 4.51% 6/6/2024 5/15/2027 1,073 1,049 1,522,972 PFM USA TREASURY NTS 91282CKV2 702,434 4.63% 4.50% 6/27/2024 6/15/2027 1,083 1,080 702,023 PFM USA TREASURY NTS 4 % 15-FEB-20 91282CGL9 449,420 4.00% 4.64% 5/19/2023 2/15/2026 1,003 595 443,916 PFM USA TREASURY NTS 4 % 15-FEB-20 91282CGL9 736,904 4.00% 4.64% 3/2/2023 2/15/2026 1,081 595 739,860 - TOTAL FEDERAL / AGENCY ISSUES - 44,682,628$ 3.56% 3.82% - - 1,417 950 44,110,708$ MUNICIPAL ISSUES:

PFM FLORIDA ST BRD ADMIN FIN CORP 341271AD6 110,000$ 1.26% 1.26% 9/3/2020 7/1/2025 1,762 366 105,575$ PFM NEW JERSEY ST TPK AUTH TPK REV 646140DN0 95,000 0.90% 0.90% 1/22/2021 1/1/2025 1,440 185 92,805 - TOTAL MUNICIPAL ISSUES - 205,000$ 1.09% 1.09% - - 1,601 276 198,379$ MEDIUM TERM NOTES / COMMERCIAL PAPER:

Chandler AMAZON COM INC 1 % 12-MAY-2026 023135BX3 786,587$ 1.00% 1.09% 5/10/2021 5/12/2026 1,828 681 734,953$ Chandler APPLE INC 037833DN7 307,452 2.05% 1.49% 12/2/2021 9/11/2026 1,744 803 282,027 Chandler BANK AMER CORP SR 06051GJD2 250,455 1.32% 1.25% 7/16/2021 6/19/2026 1,799 719 239,553 Chandler BANK AMER CORP SR 06051GJD2 250,865 1.32% 1.25% 6/17/2021 6/19/2026 1,828 719 239,553 Chandler BANK OF AMERICA CORP 06051GHT9 184,943 3.56% 4.29% 8/5/2022 4/23/2027 1,722 1,027 184,691 Chandler BANK OF AMERICA CORP 06051GHT9 202,598 3.56% 4.29% 8/3/2022 4/23/2027 1,724 1,027 202,097 City of Alameda
Detail for Investment Portfolio Summary Report
June 30, 2024

BOOK VALUE MARKET
VALUE
June 30, 2024 June 30, 2024

PURCHASE
DATE

INVESTMENT
HELD WITH DESCRIPTION CUSIP # RATE

YIELD TO

MATURITY
(At Purchase)

MATURITY
DATE

TOTAL LIFE
(DAYS)

REMAINING

LIFE (DAYS)
Chandler BANK OF MONTREAL 06367WB85 465,532 1.85% 0.86% 7/23/2021 5/1/2025 1,378 305 435,530 Chandler BANK OF MONTREAL 06368FAC3 249,698 1.25% 1.27% 9/13/2021 9/15/2026 1,828 807 228,995 Chandler BERKSHIRE HATHAWAY FIN 084664CZ2 584,889 2.30% 2.30% 3/7/2022 3/15/2027 1,834 988 548,361 Chandler CATERPILLAR FINL S 14913UAJ9 630,309 4.85% 4.84% 3/18/2024 2/27/2029 1,807 1,703 630,151 Chandler DEERE JOHN CAPITAL 24422EWR6 406,156 4.75% 4.40% 1/23/2023 1/20/2028 1,823 1,299 398,475 Chandler DUKE ENERGY FLORIDA LLC 26444HAC5 515,740 3.20% 2.49% 2/22/2022 1/15/2027 1,788 929 477,320 Chandler ELI LILLY & CO 532457CK2 374,753 4.50% 4.51% 2/7/2024 2/9/2029 1,829 1,685 371,839 Chandler FLORIDA PWR LT CO 341081GN1 395,128 4.40% 4.68% 5/19/2023 5/15/2028 1,823 1,415 393,275 Chandler HOME DEPOT INC 437076CW0 165,333 4.90% 4.84% 5/21/2024 4/15/2029 1,790 1,750 165,284 Chandler HOME DEPOT INC 437076CW0 471,159 4.90% 4.84% 5/21/2024 4/15/2029 1,790 1,750 470,808 Chandler JPMORGAN CHASE CO 46647PBK1 174,271 2.08% 1.11% 5/20/2021 4/22/2026 1,798 661 163,138 Chandler MASTERCARD INCORPO 57636QAW4 309,699 4.88% 4.90% 3/6/2023 3/9/2028 1,830 1,348 311,655 Chandler NORTHERN TR CORP SR NT 4 % 10- 665859AW4 219,644 4.00% 3.88% 5/5/2022 5/10/2027 1,831 1,044 214,751 Chandler NORTHERN TR CORP SR NT 4 % 10- 665859AW4 303,033 4.00% 3.88% 7/15/2022 5/10/2027 1,760 1,044 292,842 Chandler PROLOGIS L P 74340XCG4 248,968 4.88% 4.97% 8/7/2023 6/15/2028 1,774 1,446 249,028 Chandler PROLOGIS L P 4 % 15-SEP-2028 74340XBX8 480,850 4.00% 4.91% 12/6/2023 9/15/2028 1,745 1,538 481,190 Chandler PUB SVC ELEC & GAS 74456QBX3 76,947 3.65% 5.41% 11/2/2023 9/1/2028 1,765 1,524 79,141 Chandler PUB SVC ELEC & GAS 74456QBX3 432,363 3.65% 5.41% 11/2/2023 9/1/2028 1,765 1,524 445,285 Chandler REALTY INCOME CORP 756109BG8 334,730 3.95% 5.00% 11/28/2022 8/15/2027 1,721 1,141 337,477 Chandler REALTY INCOME CORP 756109BS2 299,919 4.70% 4.71% 12/14/2023 12/15/2028 1,828 1,629 294,522 Chandler ROYAL BK OF CANADA 78016HZS2 510,595 5.20% 4.68% 12/14/2023 8/1/2028 1,692 1,493 503,285 Chandler SCHWAB CHARLES CORP 808513BR5 463,444 1.15% 1.48% 12/14/2021 5/13/2026 1,611 682 434,642 Chandler STATE STR CORP 857477CL5 575,000 4.99% 4.99% 3/13/2024 3/18/2027 1,100 991 574,304 Chandler TARGET CORP 87612EBM7 289,507 1.95% 1.99% 1/19/2022 1/15/2027 1,822 929 269,874 Chandler TORONTO DOMINION BANK 89115A2C5 573,074 4.11% 4.18% 8/26/2022 6/8/2027 1,747 1,073 558,026 Chandler TORONTO-DOMINION 89115A2U5 257,768 5.52% 4.76% 12/14/2023 7/17/2028 1,677 1,478 253,105 Chandler TOYOTA MTR CR CORP 89236TJK2 216,467 1.13% 1.24% 12/14/2021 6/18/2026 1,647 718 203,738 Chandler TOYOTA MTR CR CORP 89236TJK2 539,762 1.13% 1.24% 6/15/2021 6/18/2026 1,829 718 500,083 Chandler TOYOTA MTR CR CORP 89236TJT3 439,410 1.45% 1.50% 1/10/2022 1/13/2025 1,099 197 430,848 Chandler UNITEDHEALTH GROUP INC 91324PEC2 45,137 1.15% 1.09% 6/15/2021 5/15/2026 1,795 684 41,831 Chandler UNITEDHEALTH GROUP INC 91324PEC2 85,283 1.15% 1.09% 6/14/2021 5/15/2026 1,796 684 79,013 Chandler UNITEDHEALTH GROUP INC 91324PEC2 501,225 1.15% 1.09% 8/10/2021 5/15/2026 1,739 684 464,785 Chandler WALMART INC 931142ER0 124,764 1.05% 1.09% 9/8/2021 9/17/2026 1,835 809 115,230 PFM ADOBE INC 00724PAE9 144,928 4.85% 4.87% 4/1/2024 4/4/2027 1,098 1,008 145,032 PFM AMERICAN EXPRESS CO 025816CQ0 39,960 2.25% 2.29% 3/1/2022 3/4/2025 1,099 247 39,130 PFM AMERICAN HONDA FIN CORP 02665WEQ0 79,926 5.80% 5.85% 10/2/2023 10/3/2025 732 460 80,397 PFM AMERICAN HONDA FIN CORP MTN FR 02665WEK3 99,877 5.25% 5.29% 7/5/2023 7/7/2026 1,098 737 100,180 PFM American Honda Finance 02665WFD8 139,923 4.90% 4.92% 3/11/2024 3/12/2027 1,096 985 139,475 PFM AUSTRALIA & NEW ZEALA BKG 05253JAZ4 460,000 4.75% 4.75% 1/8/2024 1/18/2027 1,106 932 457,645 PFM AUSTRALIA NEW ZEALAND 05254JAA8 250,000 5.09% 5.09% 11/29/2022 12/8/2025 1,105 526 249,658 PFM BANK AMERICA CORP 06051GLE7 345,000 5.08% 5.08% 1/17/2023 1/20/2027 1,464 934 342,930 PFM BK OF AMERICA CORP 06051GKE8 350,000 1.53% 1.53% 12/1/2021 12/6/2025 1,466 524 343,469 PFM BMW US CAP LLC 05565ECC7 239,986 5.30% 5.30% 8/8/2023 8/11/2025 734 407 239,666 PFM BMW US CAPITAL LLC 05565EBZ7 109,897 3.25% 3.28% 3/28/2022 4/1/2025 1,100 275 108,177 PFM BP CAP MKTS AMER INC 0 % 17-No 10373QBY5 255,000 5.02% 5.02% 5/15/2024 11/17/2027 1,281 1,235 254,717 PFM BRISTOL-MYERS SQUIBB CO SR NT 110122EE4 69,924 4.90% 4.94% 2/14/2024 2/22/2027 1,104 967 69,799 PFM CATERPILLAR FINL SERVICE 14913UAE0 169,816 4.50% 4.54% 1/2/2024 1/8/2027 1,102 922 168,280 PFM CATERPILLAR FINL SVCS 14913R3B1 134,966 4.80% 4.81% 1/3/2023 1/6/2026 1,099 555 134,339 PFM CINTAS CORP 17252MAP5 99,978 3.45% 3.46% 4/26/2022 5/1/2025 1,101 305 98,306 PFM CISCO SYS INC 17275RBQ4 289,623 4.80% 4.85% 2/21/2024 2/26/2027 1,101 971 289,217 City of Alameda
Detail for Investment Portfolio Summary Report
June 30, 2024

BOOK VALUE MARKET
VALUE
June 30, 2024 June 30, 2024

PURCHASE
DATE

INVESTMENT
HELD WITH DESCRIPTION CUSIP # RATE

YIELD TO

MATURITY
(At Purchase)

MATURITY
DATE

TOTAL LIFE
(DAYS)

REMAINING

LIFE (DAYS)
PFM CITIBANK 17325FBA5 250,000 5.86% 5.86% 9/26/2023 9/29/2025 734 456 251,265 PFM CITIGROUP INC 17327CAN3 45,000 2.01% 2.01% 1/18/2022 1/25/2026 1,468 574 44,034 PFM CITIGROUP INC SR NT 172967MT5 185,000 0.78% 0.78% 10/23/2020 10/30/2024 1,468 122 185,170 PFM COMCAST CORP NEW SR NT 20030NDZ1 59,984 5.25% 5.26% 10/31/2022 11/7/2025 1,103 495 59,957 PFM COMMONWEALTH BK AUSTR NY 20271RAR1 300,000 5.32% 5.32% 3/6/2023 3/13/2026 1,103 621 301,107 PFM COOPERATIEVE CENTRALE 21688ABA9 464,823 4.85% 4.87% 1/2/2024 1/9/2026 738 558 462,387 PFM ELI LILLY & CO 532457CJ5 239,873 4.50% 4.52% 2/7/2024 2/9/2027 1,098 954 237,917 PFM EXXON MOBIL CORPORATION 30231GAT9 336,728 3.04% 4.37% 1/30/2023 3/1/2026 1,126 609 338,520 PFM GOLDMAN SACHS BK USA 38151LAG5 140,000 5.41% 5.41% 5/15/2024 5/21/2027 1,101 1,055 139,769 PFM HOME DEPOT INC 437076DB5 104,652 4.88% 5.00% 6/17/2024 6/25/2027 1,103 1,090 104,786 PFM HORMEL FOODS CORP 440452AK6 99,903 4.80% 4.83% 3/5/2024 3/30/2027 1,120 1,003 99,613 PFM INTERNATIONAL BUSINESS MACH 4 459200KS9 175,000 4.00% 4.00% 7/20/2022 7/27/2025 1,103 392 172,504 PFM JOHN DEERE CAPITAL CORP 24422EWX3 109,936 4.75% 4.77% 6/5/2023 6/8/2026 1,099 708 109,305 PFM JOHN DEERE CAPITAL CORPORATION 24422EXM6 159,851 4.85% 4.88% 3/4/2024 3/5/2027 1,096 978 159,406 PFM JPMORGAN CHASE & CO 46647PDW3 120,000 6.07% 6.07% 10/16/2023 10/22/2027 1,467 1,209 122,100 PFM JPMORGAN CHASE & CO 46647PEE2 215,000 5.57% 5.57% 4/15/2024 4/22/2028 1,468 1,392 216,742 PFM JPMORGAN CHASE CO 46647PCZ7 225,000 4.08% 4.08% 4/19/2022 4/26/2026 1,468 665 222,010 PFM LINDE INC 53522KAB9 329,644 4.70% 4.74% 11/28/2022 12/5/2025 1,103 523 328,033 PFM MERCEDES BENZ FIN NA 58769JAK3 198,554 5.20% 5.47% 8/21/2023 8/3/2026 1,078 764 200,092 PFM MORGAN STANLEY 61747YEZ4 74,999 5.05% 5.05% 1/17/2023 1/28/2027 1,472 942 74,576 PFM MORGAN STANLEY 61747YFP5 25,000 5.65% 5.65% 4/17/2024 4/13/2028 1,457 1,383 25,248 PFM MORGAN STANLEY BK N A 61690U8B9 250,193 5.50% 5.48% 5/29/2024 5/26/2028 1,458 1,426 251,710 PFM MORGAN STANLEY FR 61747YEM3 265,000 2.63% 2.63% 2/16/2022 2/18/2026 1,463 598 259,780 PFM NATIONAL AUSTRALIA BK 63253QAA2 305,000 4.97% 4.97% 1/4/2023 1/12/2026 1,104 561 303,390 PFM NATIONAL AUSTRALIA BK 63254ABD9 250,000 3.50% 3.50% 5/31/2022 6/9/2025 1,105 344 245,695 PFM NATIONAL RURAL UTILS COOP 63743HFR8 169,895 5.10% 5.12% 5/7/2024 5/6/2027 1,094 1,040 169,973 PFM NATIONAL RURAL UTILS COOP FIN 63743HFE7 39,989 3.45% 3.46% 4/27/2022 6/15/2025 1,145 350 39,222 PFM NATIONAL RURAL UTILS COOP FIN 63743HFF4 39,946 5.45% 5.50% 10/20/2022 10/30/2025 1,106 487 40,009 PFM NATIONAL RURAL UTILS CORP FIN 63743HFH0 54,961 4.45% 4.47% 2/2/2023 3/13/2026 1,135 621 54,238 PFM NESTLE HLDGS INC 641062AU8 330,000 0.61% 0.61% 9/7/2021 9/14/2024 1,103 76 326,525 PFM NESTLE HOLDING INC 641062BK9 149,951 5.25% 5.26% 3/7/2023 3/13/2026 1,102 621 150,462 PFM PACCAR FINANCIAL CORP 69371RS56 199,900 5.05% 5.07% 8/3/2023 8/10/2026 1,103 771 199,796 PFM PACCAR FINANCIAL CORP 5 % 13-M 69371RT22 49,962 5.00% 5.03% 5/6/2024 5/13/2027 1,102 1,047 50,115 PFM PEPSICO INC 713448FQ6 159,907 4.55% 4.57% 2/13/2023 2/13/2026 1,096 593 158,922 PFM PNC FINANCIAL SERVICES 693475BH7 150,000 5.67% 5.67% 10/25/2022 10/28/2025 1,099 485 149,835 PFM PNC FINANCIAL SERVICES 693475BL8 25,000 4.76% 4.76% 1/19/2023 1/26/2027 1,468 940 24,694 PFM ROCHE HOLDINGS INC 771196CE0 255,000 5.27% 5.27% 11/6/2023 11/13/2026 1,103 866 256,285 PFM STATE STR CORP 857477BR3 90,000 1.75% 1.75% 2/2/2022 2/6/2026 1,465 586 87,816 PFM STATE STR CORP 857477BX0 65,000 5.75% 5.75% 11/1/2022 11/4/2026 1,464 857 65,256 PFM STATE STR CORP 857477BZ5 35,000 4.86% 4.86% 1/23/2023 1/26/2026 1,099 575 34,843 PFM STATE STR CORP 857477CD3 175,000 5.27% 5.27% 7/31/2023 8/3/2026 1,099 764 175,334 PFM STATE STR CORP 857477CL5 90,000 4.99% 4.99% 3/13/2024 3/18/2027 1,100 991 89,891 PFM STATE STREET CORP 857477BM4 51,525 2.90% 2.38% 2/3/2022 3/30/2026 1,516 638 48,924 PFM STATE STREET CORP 857477BM4 153,020 2.90% 2.38% 2/17/2022 3/30/2026 1,502 638 146,771 PFM TEXAS INSTRS INC SR NT 882508CE2 209,866 4.60% 4.62% 2/5/2024 2/8/2027 1,099 953 208,627 PFM THE BANK OF NEW YORK MELLON C 06406RAN7 112,607 1.60% 1.01% 3/11/2021 4/24/2025 1,505 298 106,625 PFM TOYOTA MTR CR CORP 89236TLJ2 229,823 4.80% 4.84% 1/2/2024 1/5/2026 734 554 228,857 PFM TRUIST FINANCIAL CORP 89788MAH5 145,000 4.26% 4.26% 7/25/2022 7/28/2026 1,464 758 142,622 PFM TRUIST FINANCIAL CORP 89788MAJ1 155,000 5.90% 5.90% 10/26/2022 10/28/2026 1,463 850 155,389 PFM UNITEDHEALTH GROUP INC 91324PEY4 352,526 4.60% 4.85% 3/19/2024 4/15/2027 1,122 1,019 352,107 City of Alameda
Detail for Investment Portfolio Summary Report
June 30, 2024

BOOK VALUE MARKET
VALUE
June 30, 2024 June 30, 2024

PURCHASE
DATE

INVESTMENT
HELD WITH DESCRIPTION CUSIP # RATE

YIELD TO

MATURITY
(At Purchase)

MATURITY
DATE

TOTAL LIFE
(DAYS)

REMAINING

LIFE (DAYS)
PFM USAA CAP CORP 90327QD89 179,411 3.38% 3.49% 5/23/2022 5/1/2025 1,074 305 176,927 - TOTAL MEDIUM TERM NOTES / COMMERC - 25,619,684$ 3.74% 3.78% - - 1,382 848 25,116,297$ ASSET BACKED SECURITIES:

Chandler AMER EXPRESS C/A 02582JJT8 449,900 3.39% 3.42% 5/17/2022 5/17/2027 1,826 1,051 441,945 Chandler AMERICAN EXP CR MAST TR 2024 A 02582JKH2 194,960 5.23% 5.30% 4/16/2024 4/16/2029 1,826 1,751 196,825 Chandler AMERICAN EXPRESS CR ACC 2021 A 02582JJR2 258,135 0.90% 3.59% 6/28/2022 11/16/2026 1,602 869 270,180 Chandler BMW VEHICLE OWN22A 05602RAD3 108,882 3.21% 3.63% 5/10/2022 8/25/2026 1,568 786 107,432 Chandler BMW VEHICLE OWNER 0 % 26-Feb- 096919AD7 224,966 0.00% 5.24% 6/4/2024 2/26/2029 1,728 1,702 225,222 Chandler BREAN ASST BCK 437918AC9 474,979 4.00% 5.27% 2/13/2024 8/15/2028 1,645 1,507 475,236 Chandler CHASE ISSUANCE TR 2023-1 A 161571HT4 539,850 5.16% 5.17% 9/7/2023 9/15/2028 1,835 1,538 541,379 Chandler FED FARM CREDIT 3133ERGL9 1,000,330 4.50% 4.49% 6/26/2024 6/7/2028 1,442 1,438 1,000,370 Chandler FED HOME LOAN BK 3130ATS57 1,038,600 4.50% 3.63% 4/13/2023 3/10/2028 1,793 1,349 998,770 Chandler FED HOME LOAN MTG 3137EAEU9 449,271 0.38% 0.45% 1/25/2021 7/21/2025 1,638 386 428,738 Chandler FED HOME LOAN MTG 3137EAEU9 572,137 0.38% 0.45% 7/21/2020 7/21/2025 1,826 386 547,831 Chandler FED HOME LOAN MTG 3137EAEX3 398,844 0.38% 0.44% 12/16/2020 9/23/2025 1,742 450 378,048 Chandler FED HOME LOAN MTG 3137EAEX3 623,119 0.38% 0.44% 9/23/2020 9/23/2025 1,826 450 590,700 Chandler FED NATL MORT ASSC 3135G03U5 858,228 0.63% 0.67% 4/22/2020 4/22/2025 1,826 296 829,264 Chandler FED NATL MORT ASSC 3135G04Z3 485,601 0.50% 0.51% 1/11/2021 6/17/2025 1,618 352 463,970 Chandler FED NATL MORT ASSC 3135G04Z3 538,882 0.50% 0.51% 6/17/2020 6/17/2025 1,826 352 516,586 Chandler FED NATL MORT ASSC 3135G05X7 374,036 0.38% 0.46% 12/16/2020 8/25/2025 1,713 421 355,538 Chandler FED NATL MORT ASSC 3135G05X7 646,958 0.38% 0.46% 8/25/2020 8/25/2025 1,826 421 616,265 Chandler FED NATL MORT ASSC 3135G06G3 124,948 0.50% 0.56% 1/11/2021 11/7/2025 1,761 495 117,781 Chandler FED NATL MORT ASSC 3135G06G3 896,778 0.50% 0.56% 11/9/2020 11/7/2025 1,824 495 848,025 Chandler FEDERAL FARM CR BKS 3133EPA47 254,225 4.88% 4.49% 11/27/2023 11/1/2028 1,801 1,585 254,275 Chandler FEDERAL FARM CR BKS 3133ERAK7 984,330 4.38% 4.73% 4/18/2024 4/10/2029 1,818 1,745 999,230 Chandler FEDERAL FARM CREDIT BKS 3133EPME2 398,416 3.88% 3.96% 6/7/2023 6/8/2028 1,828 1,439 392,344 Chandler FEDERAL FARM CREDIT BKS 3133EPQD0 752,370 4.25% 4.18% 7/20/2023 7/17/2028 1,824 1,478 743,535 Chandler FEDERAL HOME LOAN BKS 3130AWTR1 1,246,613 4.38% 4.43% 9/8/2023 9/8/2028 1,827 1,531 1,245,800 Chandler GM FINA AUTO LEASE 2024-2 A-3 36269WAD1 184,989 5.78% 5.85% 5/7/2024 7/20/2027 1,169 1,115 185,536 Chandler GM FINANCIAL CON 380146AC4 58,935 1.26% 1.24% 1/11/2022 11/16/2026 1,770 869 57,634 Chandler GM FINL CONS AUT 362554AC1 55,907 0.68% 0.68% 10/13/2021 9/16/2026 1,799 808 54,607 Chandler HONDA AUTO REC OWNER 2024 A-3 437930AC4 174,979 5.27% 5.27% 5/14/2024 11/20/2028 1,651 1,604 175,472 Chandler HONDA AUTO REC OWNR 2021 4 43815GAC3 65,916 4.88% 0.89% 11/16/2021 1/21/2026 1,527 570 64,588 Chandler HONDA AUTO REC22-1 43815BAC4 167,157 1.88% 1.89% 2/15/2022 5/15/2026 1,550 684 164,018 Chandler HONDA AUTO RECEIVABLER 36269FAD8 289,964 5.09% 5.09% 2/8/2024 3/22/2027 1,138 995 288,607 Chandler HYUNDAI AUTO REC TR 2021-C A-3 44935FAD6 45,351 0.74% 0.75% 11/9/2021 5/15/2026 1,648 684 44,617 Chandler HYUNDAI AUTO REC TR 2022-A A-3 448977AD0 276,548 2.22% 2.23% 3/9/2022 10/15/2026 1,681 837 271,546 Chandler HYUNDAI AUTO RECE TR 2024-A A-3 448973AD9 204,955 5.18% 5.05% 3/20/2024 2/15/2029 1,793 1,691 204,246 Chandler JOHN DEERE O 47787JAC2 91,599 2.32% 2.34% 3/10/2022 9/15/2026 1,650 807 89,817 Chandler JOHN DEERE O 47789QAC4 61,746 0.52% 0.53% 7/13/2021 3/16/2026 1,707 624 60,562 Chandler JOHN DEERE O 47800AAC4 189,216 3.74% 3.77% 7/12/2022 2/16/2027 1,680 961 186,565 Chandler JOHN DEERE OWNE20B 47788UAC6 16,134 0.36% 0.37% 3/2/2021 9/15/2025 1,658 442 16,035 Chandler JOHN DEERE OWNER TR 2023 A-3 47800CAC0 200,109 5.01% 3.36% 2/23/2023 11/15/2027 1,726 1,233 199,088 Chandler MERCEDES-BENZ AUTO 58770JAD6 134,984 5.32% 5.73% 5/17/2024 1/18/2028 1,341 1,297 135,387 Chandler TENNESSEE VALLEY AUTHORITY 880591EZ1 501,505 3.88% 3.81% 5/1/2023 3/15/2028 1,780 1,354 489,100 Chandler TOYOTA AT REC OWN 89238FAD5 101,304 2.93% 3.09% 4/7/2022 9/15/2026 1,622 807 99,747 Chandler TOYOTA AUTO REC19D 89238JAC9 64,526 0.71% 0.95% 11/9/2021 4/15/2026 1,618 654 63,236 PFM ALLY AUTO RECE22-1 02008JAC0 180,300 3.31% 3.31% 5/10/2022 11/16/2026 1,651 869 178,295 PFM ALLY AUTO RECE22-2 02008MAC3 382,848 4.76% 4.76% 10/4/2022 5/17/2027 1,686 1,051 380,832 City of Alameda
Detail for Investment Portfolio Summary Report
June 30, 2024

BOOK VALUE MARKET
VALUE
June 30, 2024 June 30, 2024

PURCHASE
DATE

INVESTMENT
HELD WITH DESCRIPTION CUSIP # RATE

YIELD TO

MATURITY
(At Purchase)

MATURITY
DATE

TOTAL LIFE
(DAYS)

REMAINING

LIFE (DAYS)
PFM AMER EXPRESS C/A 02582JJT8 174,961 3.39% 3.39% 5/17/2022 5/17/2027 1,826 1,051 171,868 PFM AMERN EXPRESS CR ACC TR 2023 A 02582JJZ4 99,991 4.87% 4.87% 6/7/2023 5/15/2028 1,804 1,415 99,555 PFM BA CREDIT CARD TRUST A 05522RDH8 124,983 4.98% 4.98% 12/7/2023 11/15/2028 1,805 1,599 124,908 PFM BMW VEH OWNER TR 2023-A A3 05592XAD2 79,986 5.47% 5.47% 7/11/2023 2/25/2028 1,690 1,335 80,251 PFM BMW VEHICLE OWN22A 05602RAD3 77,773 3.21% 3.21% 5/10/2022 8/25/2026 1,568 786 76,737 PFM BMW VEHICLE OWNER 0 % 26-Feb- 096919AD7 199,970 0.00% 5.18% 6/4/2024 2/26/2029 1,728 1,702 200,198 PFM BOFA AUTO TRUST 2024-1 A-3 09709AAC6 49,992 5.35% 5.35% 5/14/2024 11/15/2028 1,646 1,599 50,148 PFM CAP ONE MULTIASSET 14041NFZ9 449,966 2.80% 2.80% 3/23/2022 3/15/2027 1,818 988 441,488 PFM CAPITAL ONE PRIME 14043GAD6 139,990 3.66% 3.66% 8/2/2022 5/17/2027 1,749 1,051 137,797 PFM CAPITAL ONE PRIME 14043QAC6 116,253 3.17% 3.17% 4/26/2022 4/15/2027 1,815 1,019 114,174 PFM CAPITAL ONE PRIME TR 14044CAC6 60,856 0.77% 0.77% 10/19/2021 9/15/2026 1,792 807 59,413 PFM CARMAX AUTO 41285YAC9 209,953 5.69% 5.70% 9/20/2023 8/15/2028 1,791 1,507 211,354 PFM CARMAX AUTO OW22-1 14318MAD1 224,792 3.97% 3.97% 7/12/2022 4/15/2027 1,738 1,019 222,034 PFM CARMAX AUTO OW22-4 14318UAD3 279,934 5.34% 5.35% 10/26/2022 8/16/2027 1,755 1,142 279,463 PFM CARMAX AUTO OWN TR 2021-3 A-3 14317DAC4 74,795 0.55% 0.55% 7/21/2021 6/15/2026 1,790 715 73,204 PFM CARMAX AUTO OWNER 14314QAC8 25,355 0.52% 0.52% 4/13/2021 2/17/2026 1,771 597 25,094 PFM CARMAX AUTO OWNER 14316NAC3 5,784 0.34% 0.34% 1/20/2021 12/15/2025 1,790 533 5,749 PFM CARMAX AUTO OWNER TR 2022 A-3 14317HAC5 126,000 3.49% 3.49% 4/21/2022 2/16/2027 1,762 961 124,227 PFM CHASE ISSUE TR 2024-1 A 161571HV9 414,937 4.60% 4.61% 1/24/2024 1/16/2029 1,819 1,661 411,184 PFM CITIGROUP MTG LN 65480WAD3 279,951 4.91% 4.91% 4/18/2023 11/15/2027 1,672 1,233 278,403 PFM DISCOVER CARD EXEC 254683CW3 289,964 3.56% 3.56% 8/2/2022 7/15/2027 1,808 1,110 284,579 PFM DISCOVER CARD EXECUTION NT 0 % 254683CY9 144,992 4.31% 4.31% 4/4/2023 3/15/2028 1,807 1,354 142,815 PFM FHLMC STACR REMIC 344930AD4 104,999 5.23% 5.23% 6/21/2023 5/15/2028 1,790 1,415 104,914 PFM FIFTH THIRD AUTO TR 2023-1 A-3 31680EAD3 229,986 5.53% 5.53% 8/15/2023 8/15/2028 1,827 1,507 230,583 PFM FORD CR AUTO OWNER 34531QAD1 349,997 5.59% 5.10% 6/18/2024 4/15/2029 1,762 1,750 349,737 PFM FORD CR AUTO OWNER TR 344928AD8 119,987 4.65% 4.65% 3/28/2023 2/15/2028 1,785 1,325 118,880 PFM FORD CREDIT AUT22A 345286AC2 33,850 1.29% 1.29% 1/19/2022 6/15/2026 1,608 715 33,209 PFM GM FINANCIAL CON 362585AC5 86,217 2.00% 3.10% 4/5/2022 2/16/2027 1,778 961 84,873 PFM GM FINANCIAL CON 36265WAD5 138,607 3.64% 3.64% 7/6/2022 4/16/2027 1,745 1,020 136,720 PFM GM FINANCIAL CON 380146AC4 53,577 1.26% 1.26% 1/11/2022 11/16/2026 1,770 869 52,395 PFM GM FINL CONS AUT 362554AC1 49,198 0.68% 0.68% 10/13/2021 9/16/2026 1,799 808 48,054 PFM HARLEY-DAVIDSON MO 41284YAD8 119,025 3.06% 3.06% 4/12/2022 2/15/2027 1,770 960 117,456 PFM HARLEY-DAVIDSON MTRCYCLE TR A-3 41285JAD0 154,984 5.05% 5.05% 2/13/2023 12/15/2027 1,766 1,263 154,296 PFM HONDA AUTO REC OWNR 2021 4 43815GAC3 53,931 4.88% 0.89% 11/16/2021 1/21/2026 1,527 570 52,845 PFM HONDA AUTO REC22-1 43815BAC4 120,724 1.88% 1.88% 2/15/2022 5/15/2026 1,550 684 118,457 PFM HUNTINGTON AUTO TR 2024-1 A-3 446144AE7 139,995 5.23% 5.23% 2/13/2024 1/16/2029 1,799 1,661 139,605 PFM HYUNDAI AUTO REC TR 2021-A A-3 44933LAC7 3,217 0.38% 0.38% 4/20/2021 9/15/2025 1,609 442 3,209 PFM HYUNDAI AUTO REC TR 2021-C A-3 44935FAD6 37,793 0.74% 0.75% 11/9/2021 5/15/2026 1,648 684 37,181 PFM HYUNDAI AUTO REC TR 2022-A A-3 448977AD0 160,272 2.22% 2.22% 3/9/2022 10/15/2026 1,681 837 157,373 PFM HYUNDAI AUTO REC22 44918MAD2 129,485 3.72% 3.72% 7/12/2022 11/16/2026 1,588 869 127,970 PFM JP MORGAN MTGE 50117KAC4 159,975 5.02% 5.02% 3/28/2023 6/15/2027 1,540 1,080 159,127 PFM JPMDB COML MTG 362583AD8 89,998 4.47% 4.47% 4/4/2023 2/16/2028 1,779 1,326 89,007 PFM KUBOTA CR OWN TR 2022-1 A-3 50117EAC8 197,162 2.67% 2.67% 3/15/2022 10/15/2026 1,675 837 193,248 PFM KUBOTA CR OWN TR 2022-2 A-3 50117JAC7 224,959 4.09% 4.09% 7/14/2022 12/15/2026 1,615 898 222,238 PFM KUBOTA CR OWNER TR 2023-2 A-3 500945AC4 119,970 5.28% 5.29% 7/18/2023 1/18/2028 1,645 1,297 120,051 PFM KUBOTA CR OWNER TR 2021-1 A-3 50117TAC5 16,609 0.62% 0.62% 4/6/2021 8/15/2025 1,592 411 16,492 PFM KUBOTA CREDIT OW17 50117XAE2 56,070 0.56% 0.56% 7/20/2021 11/17/2025 1,581 505 55,190 PFM MERCEDES-BENZ 22-1 58768PAC8 364,928 5.21% 5.21% 11/15/2022 8/16/2027 1,735 1,142 364,298 PFM MERCEDES-BENZ AUTO 58770AAC7 119,986 4.51% 4.51% 1/18/2023 11/15/2027 1,762 1,233 118,781 PFM NISSAN AUTO RECV 2 65480JAC4 154,968 4.46% 4.46% 9/20/2022 5/17/2027 1,700 1,051 153,648 City of Alameda
Detail for Investment Portfolio Summary Report
June 30, 2024

BOOK VALUE MARKET
VALUE
June 30, 2024 June 30, 2024

PURCHASE
DATE

INVESTMENT
HELD WITH DESCRIPTION CUSIP # RATE

YIELD TO

MATURITY
(At Purchase)

MATURITY
DATE

TOTAL LIFE
(DAYS)

REMAINING

LIFE (DAYS)
PFM PRETIUM MTG CR 891941AD8 179,990 4.71% 4.71% 5/16/2023 2/15/2028 1,736 1,325 178,144 PFM TOYOTA AT REC OWN 89238FAD5 94,318 2.93% 2.93% 4/7/2022 9/15/2026 1,622 807 92,868 PFM TOYOTA AUTO REC TR 2023-D A-3 89239FAD4 79,991 5.89% 5.54% 11/7/2023 8/15/2028 1,743 1,507 80,571 PFM TOYOTA AUTO REC19D 89238JAC9 56,200 0.71% 0.71% 11/9/2021 4/15/2026 1,618 654 55,077 PFM TOYOTA AUTO RECEIVABLES 891940AC2 145,000 4.63% 4.63% 1/24/2023 9/15/2027 1,695 1,172 143,739 PFM VOLKSWAGEN AUTO LN 92868KAC7 62,987 1.02% 1.02% 12/7/2021 6/22/2026 1,658 722 61,854 PFM VOLKSWAGEN AUTO22A 92868AAC9 31,148 3.44% 3.44% 6/7/2022 7/21/2025 1,140 386 31,078 PFM WORLD OMNI AU 13-A 98163KAC6 67,253 0.81% 0.81% 10/26/2021 10/15/2026 1,815 837 65,843 - TOTAL ASSET BACKED SECURITIES - 25,302,864$ 3.16% 3.26% - - 1,700 1,009 24,878,480$ SUPRANATIONALS:

Chandler INTER-AMER DEV BK 4581X0DC9 765,752$ 3.13% 4.14% 1/17/2024 9/18/2028 1,706 1,541 757,704$ Chandler INTER-AMER DEV BK 4581X0DV7 517,618 0.88% 0.97% 4/13/2021 4/20/2026 1,833 659 484,375 Chandler INTER-AMER DEV BK 4581X0EN4 444,497 4.13% 4.40% 2/16/2024 2/15/2029 1,826 1,691 443,691 Chandler INTERNATIONAL BANK M T N 459058JL8 469,469 0.50% 0.52% 10/21/2020 10/28/2025 1,833 485 443,008 TOTAL SUPRANATIONALS - 2,197,336$ 2.24% 2.67% - - 1,800 1,094 2,128,778$ TOTAL PORTFOLIO 332,769,448$ - - - - - - 331,002,900$ IRREVOCABLE TRUST (PENSION / OPEB) *
- Pension - 17,206,913$ - - - - - - 19,215,879$
- OPEB - 20,822,806 - - - - - - 24,374,815
- TOTAL IRREVOCABLE TRUST (PENSION / OP - 38,029,719$ - - - - - - 43,590,694$ -
* Pension & OPEB Included for Information Only - They are not part of the City's Cash & Investment Portfolio.

June 4.480
May 4.332
April 4.272
March 4.232
February 4.122
January 4.012
LAIF Apportionment Rate(2): 4.55
LAIF Earnings Ratio(2): 0.00012419067099490
LAIF Administrative Cost(1)*: 0.16
PMIA Average Life(1): 217
LAIF Fair Value Factor(1): 0.996316042
PMIA Daily(1): 4.52
PMIA Quarter to Date(1): 4.36
Treasuries

56.92%
Agencies

24.41%
Certificates of
Deposit/Bank Notes

8.68%
Time
Deposits

2.84%
Commercial
Paper

6.56%
Corporate
Bonds

0.39%
Loans

0.20%
Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) and interest earned on the Wildfire Fund loan pursuant to Public Utility Code 3288 (a). *The percentage of administrative cost equals the total administrative cost divided by the quarterly interest earnings. The law provides that administrative costs are not to exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rate on the last day of the fiscal year is below 1%, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fund for the subsequent fiscal year.

Source:
(1) State of California, Office of the Treasurer
(2) State of Calfiornia, Office of the Controller
PMIA Average Monthly
Effective Yields(1)
PMIA/LAIF Performance Report
as of 7/24/24
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 06/30/24
Chart does not include $1,567,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.

Pooled Money Investment Account
Monthly Portfolio Composition (1)
6/30/24
$178.0 billion

INVESTMENT REPORT
City of Alameda | As of June 30, 2024
CHANDLER ASSET MANAGEMENT | chandlerasset.com
Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.

SECTION 1 | ECONOMIC UPDATE
2 Economic Update



Recent economic da ta suggests positive but slower growth this year fueled by consumer spending. While the consumer has been resilient, growing credit card debt, higher delinquencies, and a moderating labor market pose potential headwinds to future economic growth.

Inflationary trends are subsiding, but core levels remain above the Fed’s target. Given the cumulative effects of restrictive monetarypolicy and tighter financial conditions, we believe the economy will gradually soften and the Fed will loosen monetary policy in 2024.

As expected at t he June meeting, the Federal Open Market Committee voted unanimously to leave the federal funds rate unchanged at a target range of 5.25-5.50%, emphasizing the need to see sustained evidence of easing inflation before considering any rate cuts. The FOMC's latest projections now suggest only one interest rate cut in 2024, with four more cuts expected in 2025 and a slightly higher long- term neutral rate. Additionally, the Fed continues to reduce its holdings of U.S. Treasury securities and agency mortgage-backed securities as per its predefined schedule of $25 billion and $35 billion per month.

The US T reasury yield curve shifted lower in June as economic data moderated. The 2-year Treasury yield fell 12 basis points to 4.76%, the 5-year Treasury dropped13 basis points to 4.38%, and the 10-year Treasury yield declined 10 basis points to 4.40%. The inversion between the 2-year Treasury yield and 10-year Treasury yield remained relatively stable at -36 basis points at June month-end versus -37 basis points at May month-end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was -106 basis points. The inversion between 3-month and 10-year Treasuries widened to -96 basis points in June from -91 basis points in May. 3 Employment
-400
-200
0 200
400
600
800
1,000MOM Change In Thousands (000's)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3-month average (000's)

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
The U.S. economy added 206,000 jobs in June, remaining ahead of consensus expectations of 190,000 jobs. The gains were broad based, with government, health care, and social assistance posting the largest gains. The three-month moving average and six-month moving average payrolls have weakened from the first quarter to 177,000 and 222,000 respectively. The unemploymentrate edged up to 4.1% in June, and the labor participation rate inched up to 62.6%, remaining below the pre-pandemic level of 63.3%. The U-6 underemployment rate, which includes those who are marginally attached to the labor force and employed part time for economic reasons held steady at

7.4%. Average hourly earnings rose 3.9% year-over-year in June, down from 4.1% year-over-year in May. The labor markets continue to show signs of cooling in line with the Federal Reserve’s view that there has been “substantial” progress towards better balance in the labor market between demand and supply for workers.

Source: US Department of Labor Source: US Department of Labor 4 Job Openings & Labor Turnover Survey
0 2,000
4,000
6,000
8,000
10,000
12,000
14,000
Job Openings
Recession
Historical Average
In Thousands (000's)
The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) increased to 8.140 million job openings in May from a downwardlyrevised 7.919 million in April. Job openings still represent a healthy ratio of around 1.2 jobs for each unemployedindividual.

While the current level of job openings remains elevated from a historical perspective, the trend is decelerating.

Source: US Department of Labor
5 Inflation

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YOY (%) Change

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Cor e Deflator Y OY % Change
Fed Target
YOY (%) Change
In June, the Consumer Price Index (CPI) declined 0.1% month-over-monthand rose 3.0% year-over-year, reflecting broad-based cost reductions. The month-over-monthdrop was the first deflationary data point since the pandemic. The Core CPI, which excludes volatile food and energy components, was up just 0.1% month-over-monthand 3.3% year-over-year in June, down from 3.4% in May and lower than expected. The Personal Consumption Expenditures (PCE) Index decelerated in May as expected. The headline PCE deflator was unchanged in May from April versus up 0.3% in the prior month. Year-over-year, the PCE deflator rose 2.6%. The Core PCE deflator (the Fed’s preferred gauge) increased 0.1% in May from the prior month versus up 0.3% in April. The Core PCE deflator also rose 2.6% year- over-year, still above the Fed’s 2% inflation target. Much of the lingering inflation has been driven by shelter costs and demand for services.

Source: US Department of Labor Source: US Department of Commerce 6 Consumer
-30.0%
-20.0%
-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%
Retail Sales YOY % Change
YOY (%) Change
May Retail S ales increased below expectations to +0.1% after a downwardly revised -0.2%, pointing to a fatigued consumer. On a year- over-year basis, Retail Sales growth further slowed to +2.3% in May. Nonstore retailers were a bright spot in May, up 0.8% following a

1.8% decline in April. The Conference Board’s Consumer Confidence Index fell to 100.4 in June from 101.3 in May. While the present situation component rose marginally, consumers are less optimistic about future expectations for business conditions and potential income increases. While the consumer has been resilient, consumption has begun to moderate in the face of higher interest rates, rising credit card balances, and growing delinquencies.
0 20
40 60
80 100
120
140
160
Index Level
Consumer Confidence
Recession
Source: US Department of Commerce Source: The Conference Board All time high is 144.70 (1/31/00); All time low is 25.30 (2/28/09) 7 Leading Indicators of Economic Activity
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%

0.0%

5.0%

10.0%

15.0%
Leading Economic Indicators (LEI)
Recession
YOY (%) Change
-1.00
-0.75
-0.50
-0.25

0.00 0.25

0.50 0.75

1.00 Chicago Fed National Activity Index (CFNAI)
Recession
3 Month Average
The Conference Board’s Leading Economic Index (LEI) declined for the third consecutive month to -0.5% in May following a -0.6% decline in April. The index declined 5.3% year-over-year. The primary drivers for the negative print were a decline in new orders, weak consumer sentiment about future business conditions, and lower building permits. The Chicago Fed National Activity Index (CFNAI) increased to 0.18 in May from -0.26 in April, surpassing consensus expectations. However, the three-monthmoving average fell to -0.09 in May from -0.05 in April, indicating below-trend growth expectations for the economy.

Source: The Conference Board Source: Federal Reserve Bank of Chicago 8 Housing
0 200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400In Thousands of Units
Annualized Housing Starts
Multi Family Housing Starts
Single Family Housing Starts
May Housing St arts declined 5.5% month-over-monthfrom April to 1.352 million units. This equates to -19.3% less starts compared to May 2023. Single family starts were 5.2% lower month-over-monthdue to higher mortgage interest rates, lack of existing unit supply and home affordability. Multi-family home starts declined 10.3% month-over-month. The Freddie Mac average rate for a 30-year fixed mortgage edged down to 6.92% in June from 7.06% in May. According to the Case-Shiller 20-City Home Price Index, housing prices rose a higher-than-expected 7.2% year-over-year in April versus March's upwardly revised 7.5% increase. Tight inventories and higher mortgage rates continue to impact affordability.

Source: US Department of Commerce Source: S&P
-20.0%
-16.0%
-12.0%
-8.0%
-4.0%

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%

24.0%
S&P/Case-Shiller 20 City Composite Home Price Index
Recession
YOY (%) Change
9 Survey Based Measures
40 45
50 55
60 65
70 Institute of Supply Management (ISM) Surveys
ISM Manufacturing ISM Services

EXPANDING

CONTRACTING
The Institute for Supply Management (ISM) Manufacturing index edged down to 48.5 in June from 48.7 in May. While new orders picked up, prices paid for materials fell the most in over a year. The ISM Services Index returned to contraction declining to 48.8 in June, from

53.8 in the previous month. Although thelevel of the decline was a surprise, the trend in the Services PMI, which applies to a larger share of US economic output, has been steadily decreasing.

Source: Institute for Supply Management
10 Gross Domestic Product (GDP)
Components of GDP 6/23 9/23 12/23 3/24

0.6% 2.1% 2.2% 1.0%

0.9% 1.7% 0.2% 0.8%

0.0% 0.0% 0.3% -0.7%

0.1% 0.5% 0.2% 0.0%

0.5% 0.5% 0.6% 0.3%

2.1% 4.9% 3.4% 1.4%
State and Local (Consumption and Gross
Investment)
Personal Consumption Expenditures
Gross Private Domestic Investment
Net Exports and Imports
Federal Government Expenditures
Total
-40.0%
-30.0%
-20.0%
-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
Source: US Department of Commerce Source: US Department of Commerce The third and final estimate of first quarter GDP came in as expected with growth up 1.4%, a small upward revision from 1.3% in the second estimate. Notably, the personal consumption expenditures component was revised down substantially to +1.5% in the final estimate from +2.0% in the second estimate. Weaker growth in consumer spending was offset by upward revisions in other major categories, particularly gross fixed investment. The consensus projection calls for 2.0% growth in the second quarter and 2.3% growth for the full year 2024.
11 Federal Reserve
Source: Federal Reserve Source: Bloomberg
0 1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
Recession
In $ millions
As expected at the June meeting, the Federal Open Market Committee voted unanimously to leave the federal funds rate unchanged at a target range of 5.25-5.50%, emphasizing the need to see sustained evidence of easing inflation before considering any rate cuts. The FOMC's latest projections now suggest only one interest rate cut in 2024, with four more cuts expected in 2025 and a slightly higher long- term neutral rate. The Fed’s inflation projections ticked up marginally, while unemployment and GDP growth forecasts remained steady.

Additionally, the Fed continues to reduce its holdings of U.S. Treasury securities and agency mortgage-backed securities as per its predefined schedule of $25 billion and $35 billion per month. Since the Fed began its Quantitative Tightening campaign in June 2022, securities holdings have declined by approximately $1.7T to approximately $7.3T.

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
Effective Federal Funds Rate
Recession
Yield (%)
12 Bond Yields
Source: Bloomberg Source: Bloomberg

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Yield (%)

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Yield Curve
Jun-24
Mar-24
Jun-23
Yield (%)
At the end of June, the 2-year Treasury yield was 15 basis points lower, and the 10-Year Treasury yield was 56 basis points higher, year- over-year. The inversion between the 2-year Treasury yield and 10-year Treasury yield remained relatively stable at -36 basis points at June month-endversus -37 basis points at May month-end. The inversion has occurred since July 2022 and remains historically long. The average historical spread (since 2003) is about +130 basis points. The inversion between 3-month and 10-year Treasuries widened to -96 basis points in June from -91 basis points in May.
13 SECTION 2 | ACCOUNT PROFILE
14 OBJECTIVES
City of Alameda | Account #270 | As of June 30, 2024
Investment Ob je ctives
The investment objectives of the City of Alameda are first, to provide safety of principal; second, to provide adequate liquidity to meet all requirements that may be reasonably anticipated; and third, to earn a rate of return that is commensurate with the first two objectives. The City's finance staff invests in LAIF and in other short-term securities for liquidity; our mandate is to invest in longer-term assets for portfolio growth and income.

Chandler Asset Man agem en t Performance Objective
Our perf
ormance objective for the City of Alameda is to earn a return that equals or exceeds the return on an index of 1-5 Year Treasury and Agency securities over time.

Strategy
In or
der to achieve these objectives, we invest in high quality fixed income securities consistent with the investment policy and California Government Code.
15 STATEMENT OF COMPLIANCE
City of Alameda | Account #270 | As of June 30, 2024
Rules Name Limit Actual Compliance
Status Notes

ASSET-BACKED SECURITIES (ABS)
Max % (MV) 20.0 9.1 Compliant
Max % Issuer (MV) 5.0 1.3 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

BANKERS' ACCEPTANCES
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CERTIFICATE OF DEPOSIT PLACEMENT SERVICE (CDARS)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 3.0 0.0 Compliant

COLLATERALIZED BANK DEPOSITS
Max Maturity (Years) 5.0 0.0 Compliant

COLLATERALIZED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 3.0 0.0 Compliant

COMMERCIAL PAPER
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0. 0 Compliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 26.3 Compliant
Max % Issuer (MV) 5.0 2.2 Compliant
Max Maturity (Years) 5 4 Compliant
16 STATEMENT OF COMPLIANCE
City of Alameda | Account #270 | As of June 30, 2024
Rules Name Limit Actual Compliance
Status Notes
Min Rating (A- by 1) 0.0 0.0 Compliant

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE CD/
TD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 3 0.0 Compliant

FEDERAL AGENCIES
Max % (MV) 75.0 23.3 Compliant
Max % Issuer (MV) 25.0 7.4 Compliant
Max Maturity (Years) 5 4 Compliant

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV) 75.0 0.0 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 0.6 Compliant
Max % Issuer (MV) 20.0 0.6 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0. 0 Compliant

MUTUAL FUNDS
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 10.0 0.0 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant
17 STATEMENT OF COMPLIANCE
City of Alameda | Account #270 | As of June 30, 2024
Rules Name Limit Actual Compliance
Status Notes

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 15.0 4.2 Compliant
Max % Issuer (MV) 5.0 3.3 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 36.5 Compliant
Max Maturity (Years) 5 4 Compliant
18 PORTFOLIO CHARACTERISTICS
City of Alameda | Account #270 | As of June 30, 2024
Benchmark* 6/30/2024
Portfolio
3/31/2024
Portfolio
Average Maturity (yrs) 2.76 2.97 2.84
Average Modified Duration 2.56 2.58 2.56
Average Purchase Yield 3.05% 2.77%
Average Market Yield 4.65% 4.81% 4.78%
Average Quality** AA+ AA AA
Total Market Value 51,014,526 50,562,883
*Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index **The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 19 SECTOR DISTRIBUTION
City of Alameda | Account #270 | As of June 30, 2024
Sector as a Percentage of Market Value
Sector 06/30/2024 03/31/2024
US Treasury 36.5% 35.4%
Corporate 26.2% 26.7%
Agency 23.3% 23.4%
ABS 9.1% 8.2%
Supras 4.2% 4.2%
Money Mkt Fd 0.6% 0.8%
Cash 0.1% 0.1%
Muni Bonds -- 1.1%
20 DURATION ALLOCATION
City of Alameda | Account #270 | As of June 30, 2024
0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
06/30/2024 0.7% 0.7% 9.7% 22.9% 23.8% 30.9% 11.4% 0.0% 0.0% 21 PORTFOLIO ALLOCATION & DURATION CHANGES
City of Alameda | Account #270 | As of June 30, 2024
Portfolio Allocation | 06/30/2024
Duration as a Percentage of the Benchmark
*Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index Portfolio Allocation | 03/31/2024
22 ISSUERS
City of Alameda | Account #270 | As of June 30, 2024
Issuer Investment Type % Portfolio
United States US Treasury 36.50%
FNMA Agency 7.39%
Farm Credit System Agency 6.69%
Federal Home Loan Banks Agency 4.43%
FHLMC Agency 3.84%
Inter-American Development Bank Supras 3.33%
Toyota Motor Corporation Corporate 2.24%
American Express Credit Master Trust ABS 1.79%
Honda Auto Receivables Owner Trust ABS 1.74%
Bank of America Corporation Corporate 1.71%
The Toronto-Dominion Bank Corporate 1.60%
Amazon.com, Inc. Corporate 1.45%
Prologis, Inc. Corporate 1.44%
Bank of Montreal Corporate 1.31%
The Home Depot, Inc. Corporate 1.26%
Realty Income Corporation Corporate 1.25%
Caterpillar Inc. Corporate 1.24%
UnitedHealth Group Incorporated Corporate 1.16%
State Street Corporation Corporate 1.13%
John Deere Owner Trust ABS 1.09%
Berkshire Hathaway Inc. Corporate 1.08%
Chase Issuance Trust ABS 1.07%
Public Service Enterprise Group Inco Corporate 1.03%
Hyundai Auto Receivables Trust ABS 1.03%
Northern Trust Corporation Corporate 1.00%
Royal Bank of Canada Corporate 0.99%
Tennessee Valley Authority Agency 0.97%
Duke Energy Corporation Corporate 0.94%
23 ISSUERS
City of Alameda | Account #270 | As of June 30, 2024
Issuer Investment Type % Portfolio
GM Financial Automobile Leasing Trus ABS 0.94%
International Bank for Recon and Dev Supras 0.87%
The Charles Schwab Corporation Corporate 0.86%
Deere & Company Corporate 0.79%
NextEra Energy, Inc. Corporate 0.78%
Eli Lilly and Company Corporate 0.73%
BMW Vehicle Owner Trust ABS 0.66%
Mastercard Incorporated Corporate 0.61%
Apple Inc. Corporate 0.56%
FMR LLC Money Mkt Fd 0.56%
Target Corporation Corporate 0.53%
JPMorgan Chase & Co. Corporate 0.32%
Toyota Auto Receivables Owner Trust ABS 0.32%
Mercedes-Benz Auto Lease Trust ABS 0.27%
Walmart Inc. Corporate 0.23%
GM Financial Securitized Term ABS 0.22%
Cash Cash 0.07%
TOTAL 100.00%
24 QUALITY DISTRIBUTION
Rating 03/31/2024 06/30/2024
AAA 11.2% 11.9%
AA 63.2% 63.1%
A 23.5% 23.0%
NR 2.1% 2.0%
Rating 03/31/2024 06/30/2024
AAA 68.6% 69.4%
AA 3.9% 2.7%
A 22.3% 23.0%
NR 5.2% 4.9%
Rating 03/31/2024 06/30/2024
AAA 6.3% 6.9%
AA 68.9% 68.2%
A 10.0% 10.2%
NR 14.8% 14.7%
City of Alameda | Account #270 | As of June 30, 2024
S&P Rating Moody’s Rating Fitch Rating
25 0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
Portfolio 0.7% 0.7% 9.7% 22.9% 23.8% 30.9% 11.4% 0.0% 0.0% ICE BofA 1-5 Year Unsubordinated US
Treasury & Agency Index

0.0% 0.1% 2.4% 35.0% 26.8% 22.9% 12.8% 0.0% 0.0%

DURATION DISTRIBUTION
City of Alameda | Account #270 | As of June 30, 2024
Portfolio Compared to the Benchmark
26 3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception

TOTAL RATE OF RETURN
City of Alameda 0.89% 4.62% 2.42% 0.00% 1.10% 1.42% 2.54% Benchmark 0.82% 4.18% 1.85% (0.34%) 0.76% 1.15% 2.21%
*Periods over 1 year are annualized.

Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending market value; it includes interest earnings, realized and unrealized gains and losses in the portfolio.

INVESTMENT PERFORMANCE
City of Alameda | Account #270 | As of June 30, 2024
Total Rate of Return : Inception | 08/01/2002
-1.00%

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%
12 months 2 years 3 years 5 years 10 years Since Inception City of Alameda ICE BofA 1-5 Yr US Treasury & Agency Index 27 HISTORICAL AVERAGE PURCHASE YIELD
City of Alameda | Account #270 | As of June 30, 2024
Purchase Yield as of 06/30/24 = 3.05%

0.00 0.50

1.00 1.50

2.00 2.50

3.00 3.50
Percent (%)
28 SECTION 3 | PORTFOLIO HOLDINGS
29 HOLDINGS REPORT
City of Alameda | Account #270 | As of June 30, 2024
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
47788UAC6 JDOT 2021 A3 0.36 09/15/2025 16,136.89 03/02/2021 16,133.79 99.37 16,035.38 0.03% Aaa/NA 1.21

0.37% 16,136.22 4.93% 2.58 (100.84) AAA 0.14
43815GAC3 HAROT 2021-4 A3 0.88 01/21/2026 65,929.94 11/16/2021 65,916.04 97.97 64,588.47 0.13% Aaa/NA 1.56

0.89% 65,925.37 4.64% 16.12 (1,336.91) AAA 0.55
47789QAC4 JDOT 2021-B A3 0.52 03/16/2026 61,751.51 07/13/2021 61,746.00 98.07 60,562.34 0.12% Aaa/NA 1.71

0.53% 61,749.78 4.81% 14.27 (1,187.44) AAA 0.45
89238JAC9 TAOT2021-D A3 0.71 04/15/2026 64,527.71 11/09/2021 64,526.34 98.00 63,236.48 0.12% NA/AAA 1.79

0.95% 64,527.37 4.44% 20.36 (1,290.90) AAA 0.57
44935FAD6 HART 2021-C A3 0.74 05/15/2026 45,361.24 11/09/2021 45,351.11 98.36 44,617.37 0.09% NA/AAA 1.87

0.75% 45,357.73 4.11% 14.92 (740.36) AAA 0.49
43815BAC4 HAROT 2022-1 A3 1.88 05/15/2026 167,182.09 02/15/2022 167,156.95 98.11 164,017.57 0.32% Aaa/AAA 1.87

1.89% 167,172.05 4.63% 139.69 (3,154.48) NA 0.70
05602RAD3 B MWOT 2022-A A3 3.21 08/25/2026 108,888.05 05/10/2022 108,882.39 98.66 107,432.11 0.21% Aaa/AAA 2.15

3.63% 108,885.92 4.97% 58.26 (1,453.81) NA 0.78
47787JAC2 J
DOT 2022 A3 0.36 09/15/2026 91,619.66 03/10/2022 91,599.39 98.03 89,817.38 0.18% Aaa/NA 2.21

2.34% 91,610.49 5.46% 94.47 (1,793.11) AAA 0.64
89238FAD5 TAOT2022-B A3 2.93 09/15/2026 101,306.82 04/07/2022 101,304.45 98.46 99,747.12 0.20% Aaa/AAA 2.21

3.09% 101,305.96 4.91% 131.92 (1,558.84) NA 0.82
362554AC1 GMCAR 2021-4 A3 0.68 09/16/2026 55,908.38 10/13/2021 55,906.95 97.67 54,607.09 0.11% Aaa/AAA 2.21

0.68% 55,907.99 4.17% 15.84 (1,300.90) NA 0.69
448977AD0 HART 2022-A A3 2.22 10/15/2026 276,558.96 03/09/2022 276,548.32 98.19 271,546.25 0.54% NA/AAA 2.29

2.23% 276,555.21 4.60% 272.87 (5,008.96) AAA 0.78
380146AC4 GMCAR 2022-1 A3 1.26 11/16/2026 58,939.66 01/11/2022 58,934.54 97.78 57,633.96 0.11% NA/AAA 2.38

1.24% 58,937.98 4.27% 30.94 (1,304.02) AAA 0.76
02582JJR2 AMXCA 2021-1 A 0.9 11/15/2024 275,000.00 06/28/2022 258,134.77 98.25 270,180.43 0.53% Aaa/NA 0.38

3.59% 270,321.04 5.67% 110.00 (140.61) AAA 0.44
47800AAC4 JDOT 2022-B A3 3.74 02/16/2027 189,233.66 0 7/12/2022 189,215.59 98.59 186,565.46 0.37% Aaa/NA 2.63

3.77% 189,225.06 5.33% 314.55 (2,659.60) AAA 0.88
36269FAD8 GMALT2024-1 A3 5.09 03/22/2027 290,000.00 02/08/2024 289,963.75 99.52 288,607.13 0.57% NA/AAA 2.73

5.09% 289,968.14 5.46% 451.03 (1,361.01) AAA 1.
65 30

HOLDINGS REPORT
City of Alameda | Account #270 | As of June 30, 2024
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
02582JJT8 AMXCA 2022-2 A 05/17/2027 450,000.00 05/17/2022 449,900.46 98.21 441,945.00 0.87% NA/AAA 0.87

3.42% 449,959.35 5.54% 678.00 (8,014.35) AAA 0.92
36269WAD1 GMALT2024-2 A3 5.39 07/20/2027 185,000.00 05/07/2024 184,989.25 100.29 185,535.96 0.37% NA/AAA 3.05

5.85% 184,989.68 5.30% 304.68 546.29 AAA 1.71
47800CAC0 JDOT 2023 A3 5.01 11/15/2027 200,000.00 02/23/2023 200,109.38 99.54 199,087.86 0.39% Aaa/NA 3.38

3.36% 200,070.04 5.38% 445.33 (982.18) AAA 1.52
58770JAD6 MBALT 2024-A A3 5.32 01/18/2028 135,000.00 05/17/2024 134,984.21 100.29 135,386.56 0.27% Aaa/NA 3.55

5.73% 134,984.67 5.25% 319.20 401.89 AAA 2.00
437918AC9 HAROT 2024-1 A3 5.21 08/15/2028 475,000.00 02/13/2024 474,979.34 100.05 475,236.17 0.94% Aaa/AAA 4.13

5.27% 474,980.99 5.26% 1,099.89 255.18 NA 2.44
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 540,000.00 09/07/2023 539,850.31 100.26 541,378.51 1.07% NR/AAA 4.21

5.17% 539,874.07 5.11% 1,238.40 1,504.44 AAA 2.03
437930AC4 HONDO-242-A3 5.27 11/20/2028 175,000.00 0 5/14/2024 174,978.74 100.27 175,472.34 0.35% NA/AAA 4.39

5.27% 174,979.27 5.21% 333.03 493.07 AAA 2.06
448973AD9 HART 2024-A A3 4.99 02/15/2029 2
05,000.00 03/11/2024 204,954.80 99.63 204,246.19 0.40% NA/AAA 4.63

5.05% 204,957.40 5.24% 454.64 (711.20) AAA 2.05
096919AD7 BMWOT 2024-A A3 5.18 02/26/2029 225,000.00 06/04/2024 224,965.82 100.10 225,222.28 0.44% Aaa/AAA 4.66

5.18% 224,966.22 5.21% 647.50 256.06 NA 2.10
02582JKH2 AMXCA 2024-1 A 5.23 04/16/2029 195,000.00 04/16/2024 194,960.03 100.94 196,825.28 0.39% NA/AAA 4.79

5.30% 194,961.55 4.99% 453.27 1,863.73 AAA 2.53
4,635,992.71 99.28 4,619,530.70 9.12% Aaa/AAA 2.96
Total ABS 4,653,344.56 4.07% 4,648,309.56 5.16% 7,661.78 (28,778.86) AAA 1.48 AGENCY
3135G03U5 FEDERAL NATIONALMORTGAGE 860,000.00 04/22/2020 858,228.40 96.43 829,262.06 1.64% Aaa/AA+ 0.81 ASSOCIATION0.625 04/22/2025 0.67% 859,713.47 5.18% 1,030.21 (30,451.41) AA+ 0.79 3135G04Z3 FEDERAL NATIONALMORTGAGE 1,025,000.00 -- 1,024,483.60 95.66 980,556.00 1.93% Aaa/AA+ 0.96 ASSOCIATION0.5 06/17/2025 0.51% 1,024,915.44 5.17% 199.31 (44,359.44) AA+ 0.94 3137EAEU9 FEDERAL HOME LOAN MORTGAGE 1,025,000.00 -- 1,021,407.50 95.27 976,565.44 1 .93% Aaa/AA+ 1.06 CORP 0.375 07/21/2025 0.45% 1,024,224.14 5.01% 1,708.33 (47,658.70) AA+ 1.03 3135G05X7 FEDERAL NATIONALMORTGAGE 1,025,000.00 -- 1,020,994.25 94.81 971,805.76 1.92% Aaa/AA+ 1.15 ASSOCIATION0.375 08/25/2025 0.46% 1,024,063.10 5.07% 1,345.31 ( 52,257.34) AA+ 1.12
31 HOLDINGS REPORT
City of Alameda | Account #270 | As of June 30, 2024
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3137EAEX3 FEDERAL HOME LOAN MORTGAGE 1,025,000.00 -- 1,021,962.75 94.51 968,746.99 1.91% Aaa/AA+ 1.23 CORP 0.375 09/23/2025 0.44% 1,024,238.77 5.03% 1,046.35 (55,491.79) AA+ 1.20 3135G06G3 FEDERAL NATIONALMORTGAGE 1,025,000.00 -- 1,021,725.50 94.22 965,801.43 1.91% Aaa/AA+ 1.36 ASSOCIATION0.5 11/07/2025 0.56% 1,024,111.20 4.97% 768.75 (58,309.77) AA+ 1.32 3130ATS57 FEDERAL HOME LOAN BANKS 4.5 1,000,000.00 04/13/2023 1,038,600.00 99.88 998,773.03 1.97% Aaa/AA+ 3.70 03/10/2028 3.63% 1,029,036.16 4.53% 13,875.00 (30,263.13) AA+ 3.32 880591EZ1 TENNESSEE VALLEYAUTHORITY 500,000.00 05/01/2023 501,505.00 97.82 489,100.37 0.97% Aaa/AA+ 3.71

3.875 03/15/2028 3.81% 501,144.61 4.52% 5,704.86 (12,044.24) AA+ 3.37 3133ERGL9 FEDERAL FARM CREDIT BANKS 1,000,000.00 06/26/2024 1,000,330.00 100.04 1,000,366.41 1.97% Aaa/AA+ 3.94 FUNDING CORP 4.5 06/07/2028 4.49% 1,000,329.08 4.49% 3,000.00 37.33 AA+ 3.56 3133EPME2 FEDERAL FARM CREDIT BANKS 400,000.00 06/07/2023 398,416.00 98.09 392,342.58 0.77% Aaa/AA+ 3.94 FUNDING CORP 3.875 06/08/2028 3.96% 398,753.26 4.41% 990.28 (6,410.69) AA+ 3. 60 3133EPQD0 FEDERAL FARM CREDIT BANKS 750,000.00 07/20/2023 752,370.00 99.14 743,534.35 1.47% Aaa/AA+ 4.05 FUNDING CORP 4.25 07/17/2028 4.18% 751,920.18 4
.48% 14,520.83 (8,385.83) AA+ 3.61
3130AWTR1 FEDERAL HOME LOAN BANKS 4.375 1,250,000.00 09/08/2023 1,246,612.50 99.66 1,245,800.14 2.46% Aaa/AA+ 4.19 09/08/2028 4.43% 1,247,158.51 4.46% 17,165.80 (1,358.37) AA+ 3.74 3133EPA47 FEDERAL FARM CREDIT BANKS 250,000.00 11/27/2023 254,225.00 101.71 254,274.26 0.50% Aaa/AA+ 4.34 FUNDING CORP 4.875 11/01/2028 4.49% 253,718.00 4.44% 2,031.25 556.26 AA+ 3.85 3133ERAK7 FEDERAL FARM CREDIT BANKS 1,000,000.00 04/18/2024 984,330.00 99.92 999,232.59 1.97% Aaa/AA+ 4.78 FUNDING CORP 4.375 04/10/2029 4.73% 984,959.56 4.39% 9,843.75 14,273.03 AA+ 4.23 12,145,190.50 97.43 11,816,161.40 23.32% Aaa/AA+ 2.66
Total Agency 12,135,000.00 2.45% 12,148,285.51 4.76% 73,230.03 (332,124.11) AA+ 2.42 CASH
CCYUSD Receivable 34,635.10 -- 34,635.10 1.00 34,635.10 0.07% Aaa/AAA 0.00

0.00% 34,635.10 0.00% 0.00 0.00 AAA 0.00
34,635.10 1.00 34,635.10 0.07% Aaa/AAA 0.00
Total Cash 34,635.10 0.00% 34,635.10 0.00% 0.00 0.00 AAA 0.00

CORPORATE
32 HOLDINGS REPORT
City of Alameda | Account #270 | As of June 30, 2024
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
89236TJT3 TOYOTAMOTOR CREDIT CORP 1.45
01/13/2025
440,000.00 01/10/2022

1.50%
439,410.40
439,894.56

97.92 5.44%
430,846.27
2,977.33

0.85%
(9,048.29)
A1/A+
A+

0.54 0.52
06367WB85 BANK OF MONTREAL 1.85
05/01/2025
449,000.00 07/23/2021

0.86%
465,532.18
452,657.78

97.00 5.57%
435,531.41
1,384.42

0.86%
(17,126.36)
A2/A-
AA-

0.84 0.81
46647PBK1 JPMORGAN CHASE & CO 2.083
04/22/2026
168,000.00 05/20/2021

1.11%
174,271.44
169,294.67

97.11 6.58%
163,138.17
670.73

0.32%
(6,156.50)
A1/A-
AA-

1.81 0.78
023135BX3 AMAZON.COM INC 1.0 05/12/2026 790,000.00 05/10/2021

1.09%
786,587.20
788,729.08

93.03 4.95%
734,956.17
1,075.28

1.45%
(53,772.91)
A1/AA
AA-

1.87 1.81
808513BR5 CHARLES SCHWAB CORP 1.15
05/13/2026
470,000.00 12/14/2021

1.48%
463,443.50
467,225.00

92.48 5.44%
434,639.48
720.67

0.86%
(32,585.51)
A2/A-
A

1.87 1.80
91324PEC2 UNITEDHEALTHGROUP INC 1.15
05/15/2026
630,000.00 --

1.09%
631,645.30
630,624.23

92.96 5.14%
585,628.83
925.75

1.16%
(44,995.40)
A2/A+
A

1.87 1.81
89236TJK2 TOYOTAMOTOR CREDIT CORP 1.125
06/18/2026
760,000.00 --
1 .24%
756,229.20
758,366.70

92.61 5.12%
703,817.42
308.75

1.39%
(54,549.28)
A1/A+
A+

1.97 1.90
06051GJD2 BANK OF AMERICA CORP 1.319
06/19/2026
500,000.00 --

1.25%
501,320.00
500,321.60

95.82 6
.18%
479,104.58
219.83

0.95%
(21,217.02)
A1/A-
AA-

1.97 0.94
037833DN7 APPLE INC 2.05 09/11/2026 300,000.00 12/02/2021

1.49%
307,452.00
303,286.34

94.01 4.96%
282,027.69
1,879.17

0.56%
(21,258.65)
Aaa/AA+
NA

2.20 2.09
06368FAC3 BANK OF MONTREAL 1.25
09/15/2026
250,000.00 09/13/2021

1.27%
249,697.50
249,866.47

91.60 5.33%
228,994.07
920.14

0.45%
(20,872.40)
A2/A-
AA-

2.21 2.12
931142ER0 WALMART INC 1.05 09/17/2026 125,000.00 09/08/2021

1.09%
124,763.75
124,895.46

92.18 4.81%
115,229.64
379.17

0.23%
(9,665.82)
Aa2/AA
AA

2.22 2.14
87612EBM7 TARGETCORP 1.95 01/15/2027 290,000.00 01/19/2022

1.99%
289,507.00
289,748.21

93.06 4.89%
269,874.64
2,607.58

0.53%
(19,873.57)
A2/A
A

2.54 2.41
26444HAC5 DUKE ENERGY FLORIDA LLC 3.2
01/15/2027
500,000.00 02/22/2022

2.49%
515,740.00
507,767.79

95.46 5.13%
477,320.12
7,377.78

0.94%
(30,447.68)
A1/A
WR

2.54 2.36
084664CZ2 BERKSHIRE HATHAWAYFINANCE
CORP 2.3 03/15/2027
585,000.00 03/07/2022

2.30%
584,888.85
584,939.92

93.74 4.79%
548,363.16
3,961.75

1.08%
(36,576.76)
Aa
2/AA
A+

2.71 2.56
857477CL5 STATESTREET CORP 4.993
03/18/2027
575,000.00 03/13/2024

4.99%
575,000.00
575,000.00

99.88 5.04%
574,304.63
8,214.18

1.13%
(695.37)
A1/A
AA-

2.71 2.48
06051GHT9 BANK OF AMERICA CORP 3.559
04/23/2027
400,000.00 --

4.29%
387,541.72
392,568.72

96.70 5.91%
386,788.42
2,689.02

0.76%
(5,780.30)
A1/A-
AA-

2. 81

1.71 33

HOLDINGS REPORT
City of Alameda | Account #270 | As of June 30, 2024
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
665859AW4 NORTHERN TRUST CORP 4.0 520,000.00 -- 522,676.60 97.61 507,592.89 1.00% A2/A+ 2.86 05/10/2027 3.88% 521,576.51 4.90% 2,946.67 (13,983.63) A+ 2.65 89115A2C5 TORONTO-DOMINION BANK 4.108 575,000.00 08/26/2022 573,073.75 97.05 558,028.55 1.10% A1/A 2.94 06/08/2027 4.18% 573,815.30 5.20% 1,509.12 (15,786.74) NA 2.72 756109BG8 REALTYINCOME CORP 3.95 350,000.00 11/28/2022 334,729.50 96.42 337,476.13 0.67% A3/A- 3.13 08/15/2027 5.00% 339,872.97 5.20% 5,222.78 (2,396.84) NA 2.85 24422EWR6 JOHN DEERE CAPITALCORP 4.75 400,000.00 01/23/2023 406,156.00 99.57 398,295.85 0.79% A1/A 3.56 01/20/2028 4.40% 404,387.97 4.88% 8,497.22 (6,092.12) A+ 3.17 57636QAW4 MASTERCARD INC 4.875 03/09/2028 310,000.00 03/06/2023 309,699.30 100.53 311,656.36 0.61% Aa3/A+ 3.69

4.90% 309,778.30 4.71% 4,701.67 1,878.06 NA 3.23
341081GN1 FLORIDA POWER & LIGHT CO 4.4 400,000.00 05/19/2023 395,128.00 98.22 392,866.58 0.78% Aa2/A+ 3.88 05/15/2028 4.68% 396,212.75 4.91% 2,248.89 (3,346.17) AA- 3.50 7 4340XCG4 PROLOGIS LP 4.875 06/15/2028 250,000.00 08/07/2023 248,967.50 99.51 248,776.67 0.49% A3/A 3.96

4.97% 249,158.03 5.01% 541.67 (
381.37) NA 3.55
89115A2U5 TORONTO-DOMINION BANK 5.523 250,000.00 12/14/2023 257,767.50 101.24 253,105.96 0.50% A1/A 4.05 07/17/2028 4.76% 256,857.50 5.18% 6,290.08 (3,751.55) AA- 3.51 78016HZS2 ROYAL BANK OF CANADA 5.2 500,000.00 12/14/2023 510,595.00 100.66 503,282.98 0.99% A1/A 4.09 08/01/2028 4.68% 509,364.77 5.02% 10,833.33 (6,081.80) AA- 3.57 74456QBX3 PUBLIC SERVICE ELECTRIC AND GAS 550,000.00 11/02/2023 509,309.42 95.35 524,425.95 1.03% A1/A 4.17 CO 3.65 09/01/2028 5.41% 514,808.77 4.90% 6,691.67 9,617.17 WR 3.76 74340XBX8 PROLOGIS LP 4.0 09/15/2028 500,000.00 12/06/2023 480,850.00 96.24 481,187.45 0.95% A3/A 4.21

4.91% 483,113.28 5.00% 5,888.89 (1,925.84) NA 3.77
756109BS2 REALTYINCOME CORP 4.7 300,000.00 12/14/2023 299,919.00 98.17 294,520.66 0.58% A3/A- 4.46 12/15/2028 4.71% 299,927.70 5.16% 626.67 (5,407.04) NA 3.96 532457CK2 ELI LILLYAND CO 4.5 02/09/2029 375,000.00 02/07/2024 374,752.50 99.16 371,837.04 0.73% A1/A+ 4.61

4.51% 374,771.87 4.70% 6,656.25 (2,934.84) NA 4.04
1 4913UAJ9 CATERPILLARFINANCIAL SERVICES 630,000.00 03/18/2024 630,308.70 100.02 630,149.00 1.24% A2/A 4.66 CORP 4.85 02/27/2029 4.84% 630,291.08 4.84% 10,524.50 (142.09) A+ 4.06 437076CW0 HOME DEPOT INC 4.9 04/15/2029 635,000.00 05/21/2024 636,492.05 100.17 636,089.15 1 .26% A2/A 4.79

4.84% 636,458.93 4.86% 6,568.72 (369.79) A 4.19
13,743,454.86 96.62 13,299,855.88 26.24% A1/A 2.97
Total Corporate 13,777,000.00 3.26% 13,735,582.28 5.12% 116,059.66 (435,726.40) A+ 2.63 34 HOLDINGS REPORT
City of Alameda | Account #270 | As of June 30, 2024
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration

MONEY MARKET
FUND
316175603 FIDELITY IMM:GOVT III 282,016.42 -- 282,016.42 1.00 282,016.42 0.56% Aaa/ 0.00

4.96% 282,016.42 4.96% 0.00 0.00 AAAm 0.00
NA
Aaa/
TotalMoney Market 282,016.42 1.00 282,016.42 0.56% AAAm 0.00 Fund 282,016.42 4.96% 282,016.42 4.96% 0.00 0.00 NA 0.00

SUPRANATIONAL
459058JL8 INTERNATIONALBANK FOR 470,000.00 10/21/2020 469,468.90 94.26 443,009.44 0.87% Aaa/AAA 1.33 RECONSTRUCTIONAND DEVELOPM 0.52% 469,859.23 5.02% 411.25 (26,849.79) NA 1.29

0.5 10/28/2025
4581X0DV7 INTER-AMERICAN DEVELOPMENT 520,000.00 04/13/2021 517,618.40 93.15 484,375.53 0.96% Aaa/AAA 1.80 BANK 0.875 04/20/2026 0.97% 519,141.79 4.88% 897.36 (34,766.25) NA 1.75 4581X0DC9 INTER-AMERICAN DEVELOPMENT 800,000.00 01/17/2024 765,752.00 94.71 757,706.13 1.50% Aaa/AAA 4.22 BANK 3.125 09/18/2028 4.14% 769,048.17 4.51% 7,152.78 (11,342.04) NA 3.85 4581X0EN4 INTER-AMERICAN DEVELOPMENT 450,000.00 02/16/2024 444,496.50 98.60 443,689.46 0.88% Aaa/AAA 4.63 BANK 4.125 02/15/2029 4.40% 444,892.41 4.46% 7,785.94 ( 1,202.95) NA 4.09 2,197,335.80 95.07 2,128,780.56 4.20% Aaa/AAA 3.15
Total Supranational 2,240,000.00 2.72% 2,202,941.60 4.69% 1 6,247.33 (74,161.03) NA 2.89

US TREASURY
91282CAM3 UNITED STATESTREASURY 0.25 1,200,000.00 -- 1,183,773.44 94.29 1,131,468.74 2.23% Aaa/AA+ 1.25 09/30/2025 0.55% 1,195,549.71 5.02% 754.10 (64,080.97) AA+ 1.22 91282CAT8 UNITED STATESTREASURY 0.25 1,100,000.00 -- 1,086,968.75 93.98 1,033,785.16 2.04% Aaa/AA+ 1.34 10/31/2025 0.50% 1,096,351.47 4.97% 463.32 (62,566.31) AA+ 1.30 91282CAZ4 UNITED STATESTREASURY 0.375 1,100,000.00 03/26/2021 1,080,277.34 93.82 1,031,980.47 2.04% Aaa/AA+ 1.42 11/30/2025 0.76% 1,094,026.59 4.94% 349.39 (62,046.12) AA+ 1.38 91282CCW9 UNITED STATESTREASURY 0.75 260,000.00 09/17/2021 258,588.28 91.97 239,118.75 0.47% Aaa/AA+ 2.17 08/31/2026 0.86% 259,381.69 4.69% 651.77 (20,262.94) AA+ 2.10 35 HOLDINGS REPORT
City of Alameda | Account #270 | As of June 30, 2024
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CCZ2 UNITED STATESTREASURY 0.875
09/30/2026
1,520,000.00 --

1.08%
1,504,876.56
1,513,143.98

92.04 4.64%
1,398,934.37
3,343.17

2.76%
(114,209.61)
Aaa/AA+
AA+

2.25 2.18
91282CDG3 UNITED STATESTREASURY 1.125
10/31/2026
510,000.00 11/15/2021

1.25%
506,892.19
508,536.29

92.29 4.65%
470,654.30
966.64

0.93%
(37,881.99)
Aaa/AA+
AA+

2.34 2.25
91282CEF4 UNITED STATESTREASURY 2.5
03/31/2027
500,000.00 06/09/2022

3.05%
487,753.91
493,001.24

94.79 4.54%
473,925.78
3,142.08

0.94%
(19,075.46)
Aaa/AA+
AA+

2.75 2.60
91282CET4 UNITED STATESTREASURY 2.625
05/31/2027
500,000.00 06/09/2022

3.06%
489,824.22
494,037.98

94.84 4.53%
474,179.69
1,111.68

0.94%
(19,858.29)
Aaa/AA+
AA+

2.92 2.76
91282CEW7 UNITED STATESTREASURY 3.25
06/30/2027
500,000.00 07/13/2022

3.12%
503,046.88
501,840.58

96.49 4.51%
482,441.41

44.16 0.95%
(19,399.17)
Aaa/AA+
AA+

3.00 2.82
91282CFB2 UNITED STATESTREASURY 2.75
07/31/2027
200,000.00 08/22/2022

3.12%
196,609.38
197,884.39

94.95 4.52%
189,906.25
2,296.70

0.37%
(7,978.14)
Aaa/AA+
AA+

3.08 2.88
91282CFH9 UNITED STATESTREASURY 3.125
08/31/2027
1,450,000.00 --

3.40%
1,431,914.06
1,438,484.38

95.94 4
.51%
1,391,093.75
15,145.21

2.74%
(47,390.63)
Aaa/AA+
AA+

3.17 2.94
91282CFM8 UNITED STATESTREASURY 4.125
09/30/2027
1,250,000.00 10/20/2022

4.45%
1,231,933.59
1,238,102.85

98.87 4
.50%
1,235,839.85
12,961.07

2.44%
(2,263.00)
Aaa/AA+
AA+

3.25 2.98
91282CGC9 UNITED STATESTREASURY 3.875
12/31/2027
450,000.00 01/25/2023

3.57%
456,222.66
454,418.09

98.08 4.47%
441,369.14

47.38 0.87%
(13,048.95)
Aaa/AA+
AA+

3.50 3.23
91282CGH8 UNITED STATESTREASURY 3.5
01/31/2028
1,200,000.00 02/07/2023

3.81%
1,183,171.88
1,187,883.38

96.85 4.46%
1,162,171.87
17,538.46

2.29%
(25,711.51)
Aaa/AA+
AA+

3.59 3.27
91282CGP0 UNITED STATESTREASURY 4.0
02/29/2028
850,000.00 03/14/2023

3.80%
857,503.91
855,547.09

98.48 4.45%
837,050.78
11,364.13

1.65%
(18,496.31)
Aaa/AA+
AA+

3.67 3.33
91282CHA2 UNITED STATESTREASURY 3.5
04/30/2028
500,000.00 05/05/2023

3.42%
501,738.28
501,336.92

96.73 4.44%
483,632.81
2,948.37

0.95%
(17,704.11)
Aaa/AA+
AA+

3.84 3.52
91282CHE4 UNITED STATESTREASURY 3.625
05/31/2028
1,000,000.00 06/14/2023

4.00%
983,476.56
986,923.90

97.15 4.42%
971,523.44
3,070.36

1.92%
(15,400.46)
Aaa/AA+
AA+

3.92 3.59
91282CHQ7 UNITED STATESTREASURY 4.125
07/31/2028
1,000,000.00 08/07/2023

4.15%
998,867.19
999,071.46

98.94 4.41%
989,414.06
17,225.27

1.95%
(9,657.40)
Aaa/AA+
AA+

4.08 3.66
91282CHX2 U
NITED STATESTREASURY 4.375
08/31/2028
250,000.00 09/25/2023

4.62%
247,363.28
247,771.74

99.88 4.40%
249,707.03
3,655.74

0.49%
1,935.29
Aaa/AA+
AA+

4.17 3.72
91282CJA0 UNITED STATESTREASURY 4.625
09/30/2028
875,000.00 10/04/2023

4.77%
869,462.89
870,283.43
100.85

4.40%
882,416.99
10,172.47

1.74%
12,133.56
Aaa/AA+
AA+

4. 25

3.78 36

HOLDINGS REPORT
City of Alameda | Account #270 | As of June 30, 2024
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CJF9 UNITED STATESTREASURY 4.875
10/31/2028
250,000.00 10/30/2023

4.83%
250,458.98
250,397.68
101.87

4.40%
254,667.97
2,053.33

0.50%
4,270.29
Aaa/AA+
AA+

4.34 3.85
91282CJR3 UNITED STATESTREASURY 3.75
12/31/2028
900,000.00 01/04/2024

3.97%
891,246.09
892,101.30

97.45 4.38%
877,007.81

91.71 1.73%
(15,093.49)
Aaa/AA+
AA+

4.50 4.09
91282CKG5 UNITED STATESTREASURY 4.125
03/31/2029
1,000,000.00 04/18/2024

4.68%
975,820.31
976,797.13

98.98 4.36%
989,804.69
10,368.85

1.95%
13,007.56
Aaa/AA+
AA+

4.75 4.23
91282CKT7 UNITED STATESTREASURY 4.5
05/31/2029
800,000.00 06/26/2024

4.34%
805,718.75
805,706.03
100.68

4.34%
805,437.50
3,049.18

1.59%
(268.53)
Aaa/AA+
AA+

4.92 4.36
Total US Treasury 19,165,000.00 3.05%
18,983,509.38
19,058,579.29

96.59 4.56%
18,497,532.60
122,814.54

36.50%
(561,046.69)
Aaa/AA+
AA+

3.20 2.94
Total Portfolio 52,286,996.08 3.05%
52,022,134.77
52,110,349.75

96.38 4.81%
50,678,512.66
336,013.33
100.00%
(1,431,837.09)
Aa2/AA-
AA

2.97 2.58
Total Market Value +
Accrued 51,014,525.99
37 IMPORTANT DISCLOSURES
City of Alameda | Account #270 | As of June 30, 2024
2024 Chandler Asset Management, Inc, An Independent Registered InvestmentAdviser.

Information contained hereinis confidential. Prices are provided by ICE Data Services Inc (“IDS”), an independent pricing source. In the event IDS does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performanceresults are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategieshave the potential for profit or loss. Economic factors, market conditionsor changes in investment strategies,contributionsor withdrawals may materially alter the performance and results of your portfolio.

Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee,the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index.

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE permits use of the ICE indices and related data on an “as is” basis; ICE, its affiliatesand their respective third party suppliers disclaim any and all warranties and representations, expressand/or implied, including any warranties of merchantabilityor fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliatesor their respective third party providers guarantee the quality, adequacy, accuracy, timeliness or completenessof the indices or the index data or any component thereof,and the indices and index data and all components thereof are provided on an “as is” basis and licensee’s use it at licensee’s own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend chandler asset management, or any of its products or services.

This report is provided for informationalpurposes only and should not be construed as a specific investment or legal advice. The informationcontained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice. Any opinions or views expressed are based on current market conditions and are subject to change. This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results. Past performance is not indicative of future results. This report is not intended to constitute an offer,solicitation, recommendationor advice regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment.

Fixed i ncome investmentsare subject to interest, credit and market risk. Interest rate risk: the value of fixed income investments will decline as interest ratesrise. Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low rated bonds generally have to pay higher interest ratesto attract investors willing to take on greater risk. Market risk: the bond market in general could decline due to economic conditions, especially during periods of rising interest rates.

Ratings informationhave been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securitiesthemselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest and carries a AA+/Aaa/AAAby S&P,Moody’s and Fitch respectively. 41 BENCHMARK DISCLOSURES
City of Alameda | Account #270 | As of June 30, 2024
Benchmark Disclosure
ICE BofA 1-5 Yr US Treasury & Agency Index The ICE BofA 1-5 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinatedUS agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securitiesmust have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies.

ICE BofA 1-5 Year AAA-A Corp/Govt The ICE BofA US Issuers 1-5 Year AAA-A US Corporate & Government Index tracks the performance of US dollar denominated investment grade debt publicly issued in the US domestic market, including US Treasury, US agency, foreign government, supranational, and corporate securities. Qualifying securities must be issued from US issuers and be rated AAA through A3 (based on an average of Moody's, S&P and Fitch). In addition, qualifying securitiesmust have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to final maturity at point of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for US Treasuriesand $250 million for all other securities. 42 Investment Performance Review
For the Quarter Ended June 30, 2024
Client Management Team PFM Asset Management LLC
Justin Resuello, Client Relations Manager
Monique Spyke, Managing Director
213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
1 California Street Ste. 1000
San Francisco, CA 94111-5411
415-393-7270
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public

CITY OF ALAMEDA
© PFM Asset Management LLC pfmam.com |
Market Update
PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Current Market Themes
▸ The U.S. economy is characterized by:
▹ M oderating economic growth following two quarters of exceptional strength ▹ Recent inflation prints resuming the path towards the Federal Reserve (Fed)’s 2% target ▹ Labor markets continuing to show strength while unemployment has ticked up modestly ▹ Resilient consumer spending supported by wage growth that is outpacing inflation ▸ F ederal Reserve pushes out rate cuts
▹ F ed revises expectations from 3 rate cuts in 2024 to 1 by year end following a lack of progress in the fight against inflation
▹ Market continues to expect 1 or 2 rate cuts in 2024
▹ Fed officials note that the risks to its “dual mandate” of stable inflation and maximum employment are becoming more balanced
▸ T reasury yields increase in response to economic data over the quarter ▹ Y ields on maturities between 2 and 10 years rose 13-20 basis points during the quarter ▹ The yield curve has now been inverted for 24 months, the longest period in history ▹ Spreads across most sectors remain near multi-year tights and represent market expectations for a soft landing

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
1 Recent Economic Data Points to Moderation
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended June 30, 2024
Market Update
Source: Bloomberg, as of 7/5/2024.
-60
-40
-20
0 20
40 60
80 Dec-22 Jun-23 Dec-23 Jun-24
Citi Surprise Index
Line delineating positive and negative surprise
Negative Surprise
Inflation - Cooling
Labor - Moderating
GDP Growth - Slowing
Positive Surprise
Inflation - Hot
Labor - Robust
GDP Growth - Strong
The Citi Surprise Index measures various economic readings relative to market expectations. • A positive reading means that data releases have been greater than market expectations • A negative reading means that data releases have been less than expected

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
2 Source: Bureau of Labor Statistics, Bureau of Economic Analysis, and Bloomberg. As of May 2024.

For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Fed’s Preferred Inflation Measure Shows Progress
May-24

3.4%
May-24
2 .6%
1%
2%
3%
4%
5%
6%
7%
May-21 Nov-21 May-22 Nov-22 May-23 Nov-23 May-24
Core Inflation Measures
Year-Over-Year Changes
Core CPI Core PCE
Core CPI and PCE
strips out the volatile
food and energy
components.

Federal Reserve Inflation Target

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
3 Source: Bloomberg, Bureau of Labor Statistics. Monthly change in nonfarm payrolls and unemployment rate as of June 2024. Data is seasonally adjusted (left). Worker demand gap as of May 2024. Pre- pandemic average from February 2016 – February 2020 (right).

For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Labor Market Moves Into Better Balance
240
184
210
246
165
182
290
256
236
310
108
218
206
0 50
100
150
200
250
300
350
400
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
Apr-24
May-24
Jun-24
Thousands
Monthly Change In
Nonfarm Payrolls
Revised
lower by
combined
111K
Jun-24

4.1%
3%
4%
5%
6%
7%
2021 2022 2023 2024
Unemployment Rate

1.22 0
0 .5
1 1.5
2 2.5
May-18 May-20 May-22 May-24
Worker-Demand Gap
May 2018 - May 2024
Pre-Pandemic Average
Number of Jobs
Available Per
Unemployed Person

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
4 Economic Incentive to Switch Jobs is Declining
Source: Bloomberg, Federal Reserve Bank of Atlanta a s of March 2024. © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended June 30, 2024
Market Update

5.6%

4.9%

7.7%
5 .6%
2%
3%
4%
5%
6%
7%
8%
2015 2017 2019 2021 2023
Wage Growth
12-month moving average
Job Stayer Job Switcher
Rebalancing of labor market
h
as reduced employers’
need to pay workers more to
switch jobs

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
5 The Consumer Moderates But Remains Well
Positioned Given Strong Wage Growth
Source: Bloomberg, U.S. Census Bureau, Bureau of Eco nomic Analysis as of May 2024 (left). Bloomberg, U.S. Census Bureau as of May 2024 (right). © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended June 30, 2024
Market Update
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
2019 2020 2021 2022 2023
Percentage Change in Earnings and
Inflation
CPI Wages and Salaries
$400
$450
$500
$550
$600
$650
$700
$750
2020 2021 2022 2023 2024
Billions
Retail Sales (Monthly)

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
6 Markets Reflect a “Soft Landing”
Source: Bloomberg, ICE BofA Indices, and S&P 500 as o f June 28, 2024.

Green = wider spreads/higher dividend yield and Red = tighter spreads/lower dividend yield. Gradient color based on 1st and 3rd quartile of data series over the past 20 years. © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended June 30, 2024
Market Update
Investment Universe Pricing
Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Median, 20-Year
Investment
Grade Spreads 149 151 126 136 119 118 97 85 86 118
High Yield
S
preads 587 543 479 458 405 403 334 312 318 449
S&P 500
D
ividend Yield 1.70% 1.85 1.76% 1.68% 1.55% 1.61% 1.49% 1.36% 1.33% 1.94% Cooling Inflation
+
Labor Market Normalization
+
Moderating Spending
=
Market Prices Reduce
Recession Risk
and Reflect “Soft Landing”
Lower Prices/Cheaper | Higher Prices/More Expensive

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
7 The Fed’s Latest “Dot Plot” Shows
Only One Rate Cut In 2024
Source: Federal Reserve and Bloomberg. Individual do ts represent each Fed members’ judgement of the midpoint of the appropriate target range for the federal funds rate at each year-end. © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended June 30, 2024
Market Update
0%
1%
2%
3%
4%
5%
6%
Fed Participants’ Assessments of ‘Appropriate’ Monetary Policy Jun-24 FOMC Projections
Jun-24 Median
Mar-24 Median
2024 Longer Term2025 2026
1 cut 4 cuts 4 cuts 2.7%

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
8 5.1%

4.1%

3.1% 2.8%
0%
1 %
2%
3%
4%
5%
6%
2024 2025 2026 Longer
Run
Federal Funds Rate
March Projections June Projections

2.6% 2.3% 2.0% 2.0%
0%
1 %
2%
3%
4%
5%
6%
2024 2025 2026 Longer
Run
PCE Inflation
March Projections June Projections

2.1% 2.0% 2.0% 1.8%
0%
1 %
2%
3%
4%
2024 2025 2026 Longer
Run
Change in Real GDP
March Projections June Projections
Fed’s Updated June Projections Reflect
Stable Economic Expectations for 2024
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: Federal Reserve, latest economic projections as of June 2024.

For the Quarter Ended June 30, 2024
Market Update

4.0% 4.2% 4.1% 4.2%
0%
1 %
2%
3%
4%
5%
6%
2024 2025 2026 Longer
Run
Unemployment Rate
March Projections June Projections

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
9 Treasury Yields Move Higher as Market Evolves to Revised Fed Expectations PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: Bloomberg, as of 6/30/2024.

For the Quarter Ended June 30, 2024
Market Update

5.35%

4.75%

4.38% 4.37% 4.40% 4.56%

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00% Yield
Maturity
U.S. Treasury Yield Curve
1 Year Range
June 30, 2024
March 31, 2024
3mo 2yr 5yr 7yr 10yr 30yr

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
10 Sector Yield Spreads
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: ICE BofA 1-3 year Indices via Bloomberg, MarketAxess and PFMAM as of June 30, 2024. Spreads on ABS and MBS are option-adjusted spreads of 0-3 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.

CMBS is Commercial Mortgage-Backed Securities and represented by the ICE BofA Agency CMBS Index.

For the Quarter Ended June 30, 2024
Market Update
-0.2%

0.0%

0.2%

0.4%

0.6%
Jun-23 Sep-23 Dec-23 Mar-24 Jun-24
Federal Agency Yield Spreads
Bullet Callable

0.0%

0.3%

0.5%

0.8%

1.0%

1.3%
Jun-23 Sep-23 Dec-23 Mar-24 Jun-24
Corporate Notes A-AAA Yield Spreads

0.0%

0.3%

0.5%

0.8%

1.0%

1.3%
Jun-23 Sep-23 Dec-23 Mar-24 Jun-24
Mortgage-Backed Securities Yield Spreads
Agency MBS AAA CMBS

0.0%

0.3%

0.5%

0.8%

1.0%

1.3%
Jun-23 Sep-23 Dec-23 Mar-24 Jun-24
Asset-Backed Securities AAA Yield Spreads

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
11 Sector Yield Spreads
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: ICE BofA 1-3 year Indices via Bloomberg, MarketAxess and PFMAM as of June 30, 2024. Spreads on ABS and MBS are option-adjusted spreads of 0-3 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.

CMBS is Commercial Mortgage-Backed Securities and represented by the ICE BofA Agency CMBS Index.

For the Quarter Ended June 30, 2024
Market Update
-0.1%

0.1%

0.2%
Mar-24 Apr-24 May-24 Jun-24
Federal Agency Yield Spreads
Bullet Callable 1 Year Average
5 bps

0.3%

0.5%

0.7%

0.9%
Mar-24 Apr-24 May-24 Jun-24
Corporate Notes A-AAA Yield Spreads
1-3 Yr. AAA-A Corp 1 Year Average
60 bps

0.3%

0.5%

0.7%

0.9%
Mar-24 Apr-24 May-24 Jun-24
Mortgage-Backed Securities Yield Spreads
Agency MBS AAA CMBS 1 Year Average
62 bps

0.3%

0.5%

0.7%

0.9%
Mar-24 Apr-24 May-24 Jun-24
Asset-Backed Securities AAA Yield Spreads
AAA ABS 1 Year Average
63 bps

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
12 Fixed-Income Index Total Returns in 2Q 2024
1-3 Year Indices
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended June 30, 2024
Market Update
Source: ICE BofA Indices. ABS indices are 0-3 year, based on weighted average life. As of June 30, 2024.

0.94%

1.02%

1.21%

1.05%

1.19%

0.0%

0.5%

1.0%

1.5%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
Second Quarter 2024 Returns

4.53%

4.90%

5.73% 5.67%

6.47%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
1-Year Return

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
13 Factors to Consider for 6-12 Months
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended June 30, 2024
Market Update
Current outlook Outlook one quarter ago
Negative Slightly
Negative
Neutral Slightly
Positive
Positive
Statements and opinions expressed about the next 6-12 months were developed based on our independent research with information obtained from Bloomberg and FactSet. The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC at the time of distribution (6/30/2024) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management LLC cannot guarantee its accuracy, completeness, or suitability.

Monetary Policy (Global):
• The Fed remains data dependent. Recent Fed
guidance has been revised from three rate cuts
to one rate cut in 2024. Markets currently
e
xpect one or two cuts.
• Globally, major central banks have begun
easing cycle with rate cuts leading to
divergence from Fed policy.

Economic Growth (Global):
• U.S. economic growth remains resilient but
there has been some softness recently as
consumer spending tapers.
• Economic growth outside U.S. remain mixed
with slower but improved growth projected in
Eurozone and continued growth projected in
emerging markets.

Inflation (U.S.):
• The latest inflation reading has revived market
confidence that inflation is heading in the right
direction after experiencing broad disinflation
across both goods and services.
• Despite the progress on inflation, policymakers
would like more data to confirm the downward
trend.

Financial Conditions (U.S.):
• Market measures, such as narrow corporate
yield spreads, record equity index levels and
low volatility, reflect economic confidence.
• With interest rates elevated and the gradual
normalization of labor markets and the
consumer, we continue to focus on identifying
potential catalysts for a broader slow down.

Consumer Spending (U.S.):
• The consumer has begun to exercise caution
and limit spending, which has shed light on a
notable downshift over recent months.
• Moderation in the pace of overall spending is
expected to continue given persistent inflation,
reduced/lower savings, and a cooling job
market.

Labor Markets:
• The labor market normalization has begun.

After the pandemic-led jolt, the labor force
participation rate and non-farm payrolls have
moved to be in line with long-term averages.
• With the quits rate and excess demand fo
r
w
orkers reaching a better balance, this should
help cool wage pressures and inflation.

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
14 Fixed-Income Sector Commentary – 2Q 2024
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended June 30, 2024
Market Update
▸ U.S. Treasury yields once again rose over the quarter, reflecting the market adjusting to delayed rate cut
expectations, but remained largely range-bound following the June Fed meeting. Despite higher yields, U.S.

Treasury indexes less than 10 years posted positive
returns as higher income more than offset the negative
price effects.
▸ Federal Agency spreads remained in a narrow, tight
range over the quarter driven by limited supply. Limited value, tight spreads, and normalized liquidity are likely to remain features of this sector absent an unexpected
increase in new issuance. Callables, specifically, longer lockout structures with limited call options, can add value selectively in government-only accounts.
▸ Supranational spreads tightened on maturities on the
short end of the curve, bringing the entire supranational yield curve into rich valuations.
▸ Investment-Grade (IG) Corporates continued to perform exceedingly well for the majority of the quarter, as strong performance in April and May offset modest weakness in
June. Lower rated issuers and longer-duration securities performed best. Given strong trailing performance and
spreads near their two-year tights, selective trimming in favor of increased portfolio liquidity or new issues offered at attractive concessions remains appropriate.
▸ Asset-Backed Securities continued to generate
strong returns, as spreads in the sector flatlined in a tight range near their multi-year lows for most of Q2.

Despite modest weakening in market confidence of
consumer fundamentals and moderating personal
consumption, new issuance remained well-digested by
investors.
▸ Mortgage-Backed Securities ended the quarter with
flat excess returns as a selloff in the 30-year U.S.

Treasury over the final week of Q2 erased the strong
performance of MBS in May and June. Several new
issue opportunities in agency commercial mortgage-
backed securities offered selective new buying
opportunities.
▸ Short-term credit (commercial paper and negotiable
bank CDs) yield spreads continue to tighten closer to
similar maturity USTs. However, the sector can
selectively provide value with incremental yields
ranging 20 to 25 basis point in 9- to 12-month
maturities.

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
15 Negative Slightly
Negative Neutral Slightly
Positive PositiveCurrent outlook Outlook one quarter ago © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended June 30, 2024
Market Update
Fixed-Income Sector Outlook – 3Q 2024
Sector Our Investment Preferences

C O M M E R C I A L P A P E R
/
C D

T R E A S U R I E S
T-Bill
T
-Note

F E D E R A L A G E N C I E S
Bullets
C
allables

S U P R A N A T I O N A L S
C

O R P O R A T E S
Financials
I
ndustrials

S E C U R I T I Z E D
Asset-Backed
A
gency Mortgage-Backed
Agency CMBS

M U N I C I P A L S

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
16 © PFM Asset Management LLC pfmam.com|
Account Summary

© PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Account Summary
|
Account Summary
PFMAM Managed Account $48,113,332
Total Program $48,113,332
Consolidated Summary
Sector Allocation

0.0% 0.0% 0.7% 0.4% 1.9%

33.2%

53.8%

7.2% 2.9% 0.0% 0.0% 0.0%
$0
$5
$10
$15
$20
$25
$30
Millions
Under
30 days
31 to 60
days
61 to 90
days
91 to
180 days
181 days
to 1 year
1 to 2
years
2 to 3
years
3 to 4
years
4 to 5
years
5 to 7
years
7 to 10
years
Over 10
years
Maturity Distribution
(Weighted Average Maturity: 833 Days)
Account summary and sector allocation include market values, accrued interest, and overnight balances. Maturity distribution includes market values and excludes accrued interest and overnight balances1.

U.S. Treasury | 53%
Corporate | 25%
ABS | 18%
Negotiable CD | 3%
Federal Agency | 1%
Municipal | <1%
18 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Account Summary
|
Account Summary
Yield at market, yield on cost, and portfolio duration only include investments held within the separately managed account(s), excludes balances invested in overnight funds.1 .

CITY OF ALAMEDA (PFMAM)
Portfolio Values June 30, 2024
PFMAM Managed Account $47,642,206
Amortized Cost $47,944,027
Market Value $47,642,206
Accrued Interest $463,755
Cash $7,371
Analytics¹ June 30, 2024
Yield at Market 4.77%
Yield on Cost 4.36%
Portfolio Duration 1.79
19 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Account Summary
|

17.6%

24.9%

3. 4%

0.4%

1.0%

52.8%

0.0% 20.0% 40.0% 60.0% 80.0% 100.0%
ABS - $8,454,617
Corporate - $11,965,522
Negotiable CD - $1,621,782
Municipal - $199,580
Federal Agency - $457,064
U.S. Treasury - $25,407,396
Portfolio Allocation Sector Limit for Analysis*
Sector Allocation Analytics
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest. *
Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided. 20 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Compliance
|
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM").

Certificate of Compliance
During the reporting period for the quarter ended June 30, 2024, the account(s) managed by PFM Asset Management ("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged :PFM Asset Management LLC
21 © PFM Asset Management LLC pfmam.com|
Portfolio Review:

CITY OF ALAMEDA
(PFMAM)

© PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Snapshot
|
Yield and duration calculations exclude cash and cash equivalents. Sector allocation includes market values and accrued interest.

The portfolio’s benchmark is the ICE BofA 1-3 Year U.S. Treasury/Agency Index. Source: Bloomberg.

An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.

1. Portfolio Snapshot - CITY OF ALAMEDA (PFMAM)¹
Credit Quality - S&P
18%
39% 42%
1% 1%
8%
57%
35%
0%
20%
40%
60%
0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 53%
Corporate | 25%
ABS | 18%
Negotiable CD | 3%
Federal Agency | 1%
Municipal | <1%
Sector Allocation
AAA | 14%
AA+ | 54%
AA | 1%
AA- | 7%
A+ | 6%
A | 7%
A- | 7%
BBB+ | 1%
Not Rated | 4%
Portfolio Statistics
Portfolio Effective Duration
B
enchmark Effective Duration
Portfolio Credit Quality
Yield At Market
Yield At Cost
Total Market Value
Securities Sub-Total
Cash
$48,113,331.78
$47,642,206.25
$463,755.01
$7,370.52

1.79 years

1.75 years

4.36%

4.77%
AA
Accrued Interest
23 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Characteristics
|
$0.0
$9.6
$19.2
$28.8
$38.4
$48.0
Millions
June 2024
$0.0
$9.6
$19.2
$28.8
$38.4
$48.0
Millions
March 2024
$0.0
$9.6
$19.2
$28.8
$38.4
$48.0
Millions
December 2023
$0.0
$9.6
$19.2
$28.8
$38.4
$48.0
Millions
September 2023
Sector Allocation Review - CITY OF ALAMEDA (PFMAM)
U.S. Treasury Federal Agency Supranational Municipal Negotiable CD Corporate ABS Market values, excluding accrued interest. Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. Detail may not add to total due to rounding.

Sep-23 % of TotalSecurity Type Dec-23 % of Total Mar-24 % of Total % of TotalJun-24 U.S. Treasury $21.2 46.2% $23.7 50.6% $24.5 51.9% $25.2 52.8% Federal Agency $0.4 1.0% $0.5 1.0% $0.5 1.0% $0.5 1.0%
Supranational $0.4 0.9% $0.0 0.0% $0.0 0.0% $0.0 0.0%
Municipal $0.5 1.0% $0.5 1.0% $0.2 0.4% $0.2 0.4%
Negotiable CD $1.5 3.4% $1.6 3.3% $1.6 3.4% $1.6 3.3%
Corporate $12.7 27.7% $11.6 24.9% $11.4 24.3% $11.8 24.8% ABS $9.1 19.8% $9.0 19.2% $9.0 19.0% $8.4 17.7%
Total $45.9 100.0% $46.8 100.0% $47.2 100.0% $47.6 100.0% 24 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Activity
|
Portfolio Activity - CITY OF ALAMEDA (PFMAM)
Net Activity by Sector
($ millions)
ABS
Corporate
U.S. Treasury
ABS
C
orporate
U.S. Treasury
($6.0) ($4.0) ($2.0) $0.0 $2.0 $4.0 $6.0
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.

Sector Net Activity
U.S. Treasury $670,814
Corporate $367,753
ABS ($546,115)
$492,452Total Net Activity
Sales/Maturities Purchases
25 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Performance
|
The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is June 30, 2002.1.

Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.

Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.3.

The portfolio’s benchmark is the ICE BofA 1-3 Year U.S. Treasury/Agency Index. Source: Bloomberg.4.

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%
Return
Portfolio Benchmark Net of Fees
Portfolio Performance
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years 10 Years Interest Earned² $ 492,939 $1,739,579 $2,972,173 $4,663,779 $7,684,343 Change in Market Value ($23,550) $537,995 ($1,778,464) ($1,339,564) ($1,061,529) $469,389Total Dollar Return $2,277,574 $1,193,709 $3,324,215 $6,622,814 Total Return³
Portfolio 0.99% 4.97% 0.84% 1.45% 1.49%
Benchmark⁴ 0.94% 4.54% 0.41% 1.06% 1.14%
Basis Point Fee 0.03% 0.12% 0.12% 0.12% 0.12%
Net of Fee Return 0.96% 4.85% 0.72% 1.33% 1.37%
3 Months 1 Year 3 Years 5 Years 10 Years
26 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Performance
|
The lesser of 10 years or since inception is shown. Performance inception date is June 30, 2002.1.

Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.

Realized gains / (losses) are shown on an amortized cost basis.3.

Accrual Basis Earnings - CITY OF ALAMEDA (PFMAM)
Accrual Basis Earnings
Interest Earned²
Re
alized Gains / (Losses)³
Change in Amortized Cost
Total Earnings
3 Months
$492,939
($
92,830)
$19,197
$419,307
1 Year
$1,739,579
($
562,134)
$69,568
$1,247,013
3 Years
$2,972,173
($
1,259,630)
$58,295
$1,770,837
5 Year
$4,663,779
($
586,551)
$70,668
$4,147,895
10 Year¹
$7,684,343
($
770,157)
$67,895
$6,982,080
27 © PFM Asset Management LLC pfmam.com|
Portfolio Holdings and Transactions

© PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Summary
|
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings, excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balances invested in overnight funds.

Issuer Diversification
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer U.S. Treasury 52.8%
UNITED STATES TREASURY 52.8% AA / Aaa / AA
Federal Agency 1.0%
FEDERAL HOME LOAN BANKS 1.0% AA / Aaa / NR
Municipal 0.4%
FLORIDA STATE BOARD OF ADMIN FIN CORP 0.2% AA / Aa / AA NEW JERSEY TURNPIKE AUTHORITY 0.2% AA / A / A
Negotiable CD 3.4%
CREDIT AGRICOLE SA 0.7% A / Aa / AA
NATIXIS NY BRANCH 0.7% A / A / A
NORDEA BANK ABP 0.9% AA / Aa / AA
TORONTO-DOMINION BANK 1.0% A / A / NR
Corporate 24.9%
ADOBE INC 0.3% A / A / NR
AMERICAN EXPRESS CO 0.1% BBB / A / A
AMERICAN HONDA FINANCE 0.7% A / A / A
ANZ BANKING GROUP LTD 1.5% AA / Aa / AA
BANK OF AMERICA CO 1.4% A / A / AA
BMW FINANCIAL SERVICES NA LLC 0.7% A / A / NR
BP PLC 0.5% A / A / A
BRISTOL-MYERS SQUIBB CO 0.1% A / A / NR
CATERPILLAR INC 0.6% A / A / A
CINTAS CORPORATION NO. 2 0.2% A / A / NR
CISCO SYSTEMS INC 0.6% AA / A / NR
CITIGROUP INC 1.0% A / A / A
COMCAST CORP 0.1% A / A / A
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Corporate 24.9%
COMMONWEALTH BANK OF AUSTRALIA 0.6% AA / Aa / AA
DEERE & COMPANY 0.6% A / A / A
ELI LILLY & CO 0.5% A / A / NR
EXXON MOBIL CORP 0.7% AA / Aa / NR
GOLDMAN SACHS GROUP INC 0.3% A / A / A
HOME DEPOT INC 0.2% A / A / A
HORMEL FOODS CORP 0.2% A / A / NR
IBM CORP 0.4% A / A / A
JP MORGAN CHASE & CO 1.2% A / A / AA
LINDE PLC 0.7% A / A / NR
Mercedes-Benz Group AG 0.4% A / A / A
MORGAN STANLEY 1.3% A / A / A
NATIONAL AUSTRALIA BANK LTD 1.2% AA / Aa / NR

NATIONAL RURAL UTILITIES CO FINANCE
CORP

0.6% A / A / A
NESTLE SA 1.0% AA / Aa / A
PACCAR FINANCIAL CORP 0.5% A / A / NR
PEPSICO INC 0.3% A / A / NR
PNC FINANCIAL SERVICES GROUP 0.4% A / A / A
RABOBANK NEDERLAND 1.0% A / Aa / AA
ROCHE HOLDINGS INC 0.5% AA / Aa / AA
STATE STREET CORPORATION 1.4% A / A / AA
TEXAS INSTRUMENTS INC 0.4% A / Aa / NR

THE BANK OF NEW YORK MELLON

CORPORATION

0.2% A / A / AA
TOYOTA MOTOR CORP 0.5% A / A / A
TRUIST FIN CORP 0.6% A / Baa / A
29 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Summary
|
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings, excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balances invested in overnight funds.

Issuer Diversification
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Corporate 24.9%
UNITEDHEALTH GROUP INC 0.7% A / A / A
USAA CAPITAL CORP 0.4% AA / Aa / NR
ABS 17.6%
ALLY AUTO RECEIVABLES TRUST 1.2% AAA / Aaa / NR
AMERICAN EXPRESS CO 0.6% AAA / NR / AAA
BANK OF AMERICA CO 0.4% NR / Aaa / AAA
BMW VEHICLE OWNER TRUST 0.7% AAA / Aaa / AAA
CAPITAL ONE FINANCIAL CORP 1.6% AAA / Aaa / AAA
CARMAX AUTO OWNER TRUST 1.5% AAA / Aaa / AAA
CHASE ISSURANCE 0.9% AAA / NR / AAA
DISCOVER FINANCIAL SERVICES 0.9% AAA / Aaa / AAA
FIFTH THIRD AUTO TRUST 0.5% AAA / Aaa / NR
FORD CREDIT AUTO OWNER TRUST 1.3% AAA / Aaa / AAA

GM FINANCIAL CONSUMER AUTOMOBILE
TRUST

0.9% AAA / Aaa / AAA
HARLEY-DAVIDSON MOTORCYCLE TRUST 1.0% AAA / Aaa / AAA
HONDA AUTO RECEIVABLES 0.4% AAA / Aaa / AAA
HUNTINGTON BANCSHARES INC/OH 0.3% AAA / Aaa / NR
HYUNDAI AUTO RECEIVABLES 0.7% AAA / NR / AAA
KUBOTA CREDIT OWNER TRUST 1.6% NR / Aaa / AAA
MERCEDES-BENZ AUTO RECEIVABLES 1.0% AAA / Aaa / AAA
NISSAN AUTO RECEIVABLES 0.9% AAA / Aaa / AAA
TOYOTA MOTOR CORP 1.1% AAA / Aaa / AAA
VOLKSWAGEN AUTO LEASE TURST 0.1% NR / Aaa / AAA
VOLKSWAGEN OF AMERICA 0.1% AAA / Aaa / NR
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer ABS 17.6%
WORLD OMNI AUTO REC TRUST 0.1% AAA / NR / AAA
100.0%Total
30 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Composition
|
Issuer Distribution
As of June 30, 2024
Issuer Market Value ($) % of Portfolio
UNITED STATES TREASURY 25,157,254 52.81%
BANK OF AMERICA CO 860,277 1.82%
TOYOTA MOTOR CORP 779,168 1.64%
KUBOTA CREDIT OWNER TRUST 766,387 1.61%
CAPITAL ONE FINANCIAL CORP 752,802 1.58%
CARMAX AUTO OWNER TRUST 729,671 1.53%
ANZ BANKING GROUP LTD 706,827 1.48%
STATE STREET CORPORATION 648,186 1.36%
MORGAN STANLEY 610,519 1.28%
FORD CREDIT AUTO OWNER TRUST 606,848 1.27%
JP MORGAN CHASE & CO 561,004 1.18%
ALLY AUTO RECEIVABLES TRUST 558,392 1.17%
NATIONAL AUSTRALIA BANK LTD 549,253 1.15%
HARLEY-DAVIDSON MOTORCYCLE TRUST 482,880 1.01%
MERCEDES-BENZ AUTO RECEIVABLES 482,714 1.01%
CITIGROUP INC 479,845 1.01%
NESTLE SA 476,994 1.00%
RABOBANK NEDERLAND 462,670 0.97%
FEDERAL HOME LOAN BANKS 455,737 0.96%
TORONTO-DOMINION BANK 451,689 0.95%
NORDEA BANK ABP 450,107 0.94%
NISSAN AUTO RECEIVABLES 431,705 0.91%
DISCOVER FINANCIAL SERVICES 427,163 0.90%
GM FINANCIAL CONSUMER AUTOMOBILE TRUST 411,040 0.86%
31 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Composition
|
Issuer Market Value ($) % of Portfolio
CHASE ISSURANCE 410,295 0.86%
BMW VEHICLE OWNER TRUST 357,807 0.75%
UNITEDHEALTH GROUP INC 351,908 0.74%
CREDIT AGRICOLE SA 349,809 0.73%
BMW FINANCIAL SERVICES NA LLC 347,904 0.73%
EXXON MOBIL CORP 339,026 0.71%
LINDE PLC 327,739 0.69%
NATIXIS NY BRANCH 327,431 0.69%
HYUNDAI AUTO RECEIVABLES 325,506 0.68%
AMERICAN HONDA FINANCE 320,006 0.67%
AMERICAN EXPRESS CO 310,596 0.65%
NATIONAL RURAL UTILITIES CO FINANCE CORP 303,412 0.64%
CATERPILLAR INC 302,569 0.64%
COMMONWEALTH BANK OF AUSTRALIA 301,123 0.63%
TRUIST FIN CORP 297,994 0.63%
CISCO SYSTEMS INC 289,203 0.61%
DEERE & COMPANY 268,797 0.56%
ROCHE HOLDINGS INC 256,368 0.54%
BP PLC 254,501 0.53%
PACCAR FINANCIAL CORP 250,072 0.52%
ELI LILLY & CO 237,500 0.50%
FIFTH THIRD AUTO TRUST 230,480 0.48%
TEXAS INSTRUMENTS INC 208,470 0.44%
MERCEDES-BENZ GROUP AG 199,994 0.42%
USAA CAPITAL CORP 177,048 0.37%
PNC FINANCIAL SERVICES GROUP 174,157 0.37%
IBM CORP 172,532 0.36%
32 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Composition
|
Issuer Market Value ($) % of Portfolio
HONDA AUTO RECEIVABLES 171,164 0.36%
PEPSICO INC 158,931 0.33%
ADOBE INC 145,039 0.30%
GOLDMAN SACHS GROUP INC 139,707 0.29%
HUNTINGTON BANCSHARES INC/OH 139,597 0.29%
THE BANK OF NEW YORK MELLON CORPORATION 106,745 0.22%
FLORIDA STATE BOARD OF ADMIN FIN CORP 105,592 0.22%
HOME DEPOT INC 104,707 0.22%
HORMEL FOODS CORP 99,407 0.21%
CINTAS CORPORATION NO. 2 98,399 0.21%
NEW JERSEY TURNPIKE AUTHORITY 92,870 0.19%
BRISTOL-MYERS SQUIBB CO 69,959 0.15%
WORLD OMNI AUTO REC TRUST 65,821 0.14%
VOLKSWAGEN OF AMERICA 61,845 0.13%
COMCAST CORP 59,967 0.13%
VOLKSWAGEN AUTO LEASE TURST 31,078 0.07%
47,642,206Grand Total 100.00%
33 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Holdings
|
Managed Account Detail of Securities Held
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury

US TREASURY NOTES
DTD 01/15/2023 3.875% 01/15/2026
91282CGE5 500,000.00 AA+ Aaa 2/6/2023 2/9/2023 497,148.44 4.08 8,942.31 492,500.00498,501.00

US TREASURY NOTES
DTD 01/15/2023 3.875% 01/15/2026
91282CGE5 500,000.00 AA+ Aaa 1/31/2023 2/2/2023 499,335.94 3.92 8,942.31 492,500.00499,653.19

US TREASURY N/B NOTES
DTD 01/31/2024 4.250% 01/31/2026
91282CJV4 150,000.00 AA+ Aaa 2/15/2024 2/21/2024 149,138.67 4.56 2,662.09 148,570.32149,292.62

US TREASURY NOTES
DTD 02/15/2023 4.000% 02/15/2026
91282CGL9 750,000.00 AA+ Aaa 3/2/2023 3/7/2023 736,904.30 4.64 11,291.21 739,804.65742,770.59

US TREASURY NOTES
DTD 02/15/2023 4.000% 02/15/2026
91282CGL9 450,000.00 AA+ Aaa 5/19/2023 5/23/2023 449,419.92 4.05 6,774.72 443,882.79449,655.09

US TREASURY NOTES
DTD 02/28/2019 2.500% 02/28/2026
9128286F2 1,425,000.00 AA+ Aaa 5/1/2023 5/3/2023 1,373,232.42 3.87 11,907.27 1,371,562.501,394,551.43

US TREASURY N/B NOTES
DTD 03/31/2024 4.500% 03/31/2026
91282CKH3 250,000.00 AA+ Aaa 4/3/2024 4/5/2024 249,169.92 4.68 2,827.87 248,671.88249,265.29

US TREASURY NOTES
DTD 04/15/2023 3.750% 04/15/2026
91282CGV7 75,000.00 AA+ Aaa 5/1/2023 5/2/2023 74,885.74 3.80 591.70 73,652.3474,930.85

US TREASURY NOTES
DTD 04/15/2023 3.750% 04/15/2026
91282CGV7 475,000.00 AA+ Aaa 5/17/2023 5/19/2023 473,960.94 3.83 3,747.44 466,464.82474,361.11

US TREASURY NOTES
DTD 04/15/2023 3.750% 04/15/2026
91282CGV7 500,000.00 AA+ Aaa 5/16/2023 5/18/2023 499,570.31 3.78 3,944.67 491,015.60499,736.04

US TREASURY NOTES
DTD 04/15/2023 3.750% 04/15/2026
91282CGV7 175,000.00 AA+ Aaa 4/20/2023 4/24/2023 174,439.45 3.86 1,380.64 171,855.46174,663.26

US TREASURY NOTES
DTD 05/15/2023 3.625% 05/15/2026
91282CHB0 3,100,000.00 AA+ Aaa 6/1/2023 6/5/2023 3,068,636.72 3.99 14,352.24 3,036,546.723,080,073.38

US TREASURY NOTES
DTD 06/15/2023 4.125% 06/15/2026
91282CHH7 600,000.00 AA+ Aaa 6/29/2023 6/30/2023 595,875.00 4.37 1,081.97 593,062.50597,275.44

US TREASURY NOTES
DTD 07/15/2023 4.500% 07/15/2026
91282CHM6 1,300,000.00 AA+ Aaa 8/1/2023 8/3/2023 1,297,816.41 4.56 27,000.00 1,294,312.501,298,491.56

US TREASURY NOTES
DTD 08/15/2023 4.375% 08/15/2026
91282CHU8 1,500,000.00 AA+ Aaa 9/6/2023 9/11/2023 1,485,410.16 4.73 24,699.52 1,490,156.251,489,422.71 34 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury

US TREASURY NOTES
DTD 08/15/2023 4.375% 08/15/2026
91282CHU8 350,000.00 AA+ Aaa 9/19/2023 9/20/2023 346,007.81 4.80 5,763.22 347,703.13347,081.18

US TREASURY NOTES
DTD 09/15/2023 4.625% 09/15/2026
91282CHY0 1,025,000.00 AA+ Aaa 10/3/2023 10/5/2023 1,017,792.97 4.88 13,912.70 1,023,878.861,019,505.23

US TREASURY NOTES
DTD 10/15/2023 4.625% 10/15/2026
91282CJC6 2,700,000.00 AA+ Aaa 11/7/2023 11/10/2023 2,693,777.34 4.71 26,271.52 2,697,468.752,695,064.20

US TREASURY N/B NOTES
DTD 11/15/2023 4.625% 11/15/2026
91282CJK8 1,950,000.00 AA+ Aaa 12/6/2023 12/8/2023 1,965,462.89 4.33 11,518.51 1,949,390.631,962,639.73

US TREASURY N/B NOTES
DTD 11/15/2023 4.625% 11/15/2026
91282CJK8 75,000.00 AA+ Aaa 12/7/2023 12/12/2023 75,615.23 4.32 443.02 74,976.5675,504.66

US TREASURY N/B NOTES
DTD 12/15/2023 4.375% 12/15/2026
91282CJP7 1,650,000.00 AA+ Aaa 1/4/2024 1/8/2024 1,660,441.41 4.14 3,155.74 1,640,718.751,658,824.59

US TREASURY N/B NOTES
DTD 02/15/2024 4.125% 02/15/2027
91282CKA8 1,250,000.00 AA+ Aaa 3/7/2024 3/11/2024 1,243,994.14 4.30 19,406.77 1,235,742.251,244,589.95

US TREASURY N/B NOTES
DTD 03/15/2024 4.250% 03/15/2027
91282CKE0 700,000.00 AA+ Aaa 4/3/2024 4/5/2024 695,269.53 4.50 8,730.98 694,421.84695,627.09

US TREASURY N/B NOTES
DTD 03/15/2024 4.250% 03/15/2027
91282CKE0 550,000.00 AA+ Aaa 4/1/2024 4/3/2024 546,068.36 4.51 6,860.06 545,617.16546,371.75

US TREASURY N/B NOTES
DTD 03/15/2024 4.250% 03/15/2027
91282CKE0 875,000.00 AA+ Aaa 4/10/2024 4/12/2024 863,002.93 4.76 10,913.72 868,027.30863,839.26

US TREASURY N/B NOTES
DTD 04/15/2024 4.500% 04/15/2027
91282CKJ9 100,000.00 AA+ Aaa 5/8/2024 5/10/2024 99,558.59 4.66 946.72 99,859.3899,578.64

US TREASURY N/B NOTES
DTD 04/15/2024 4.500% 04/15/2027
91282CKJ9 200,000.00 AA+ Aaa 5/14/2024 5/16/2024 199,367.19 4.62 1,893.44 199,718.76199,392.77

US TREASURY N/B NOTES
DTD 05/15/2024 4.500% 05/15/2027
91282CKR1 1,525,000.00 AA+ Aaa 6/6/2024 6/10/2024 1,524,404.30 4.51 8,764.61 1,523,093.751,524,415.17

US TREASURY N/B NOTES
DTD 06/15/2024 4.625% 06/15/2027
91282CKV2 700,000.00 AA+ Aaa 6/27/2024 6/28/2024 702,433.59 4.50 1,415.30 702,078.16702,427.29 25,400,000.00 25,258,140.62 250,142.27 25,157,253.61Security Type Sub-Total 4.37 25,307,505.07 35 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Negotiable CD

TORONTO DOMINION BANK NY CERT
DEPOS
DTD 10/31/2022 5.600% 10/27/2025
89115B6K1 450,000.00 A A1 10/27/2022 10/31/2022 450,000.00 5.58 17,500.00 451,689.29450,000.00

NORDEA BANK ABP NEW YORK CERT
DEPOS
DTD 11/03/2022 5.530% 11/03/2025
65558UYF3 450,000.00 AA- Aa3 11/2/2022 11/3/2022 450,000.00 5.53 4,009.25 450,107.10450,000.00

NATIXIS NY BRANCH CERT DEPOS
DTD 09/20/2023 5.610% 09/18/2026
63873QP65 325,000.00 A A1 9/18/2023 9/20/2023 325,000.00 5.61 14,434.06 327,431.00325,000.00

CREDIT AGRICOLE CIB NY CERT
DEPOS
DTD 02/05/2024 4.760% 02/01/2027
22536DWD6 350,000.00 A+ Aa3 2/1/2024 2/5/2024 350,000.00 4.76 6,802.83 349,808.55350,000.00 1,575,000.00 1,575,000.00 42,746.14 1,579,035.94Security Type Sub-Total 5.39 1,575,000.00 Municipal

NJ TURNPIKE AUTHORITY TXBL REV
BONDS
DTD 02/04/2021 0.897% 01/01/2025
646140DN0 95,000.00 AA- A1 1/22/2021 2/4/2021 95,000.00 0.90 426.08 92,870.1095,000.00

FL ST BOARD OF ADMIN TXBL REV
BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 110,000.00 AA Aa3 9/3/2020 9/16/2020 110,000.00 1.26 691.90 105,592.30110,000.00 205,000.00 205,000.00 1,117.98 198,462.40Security Type Sub-Total 1.09 205,000.00 Federal Agency

FEDERAL HOME LOAN BANK NOTES
(CALLABLE)
DTD 03/23/2021 1.000% 03/23/2026
3130ALGJ7 487,500.00 AA+ Aaa 9/5/2023 9/7/2023 440,977.88 5.04 1,327.08 455,736.94455,917.10 487,500.00 440,977.88 1,327.08 455,736.94Security Type Sub-Total 5.04 455,917.10 Corporate

NESTLE HOLDINGS INC CORP NOTES
(CALLABLE
DTD 09/14/2021 0.606% 09/14/2024
641062AU8 330,000.00 AA- Aa3 9/7/2021 9/14/2021 330,000.00 0.61 594.39 326,519.16330,000.00 36 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate

CITIGROUP INC CORP NOTES
(CALLABLE)
DTD 10/30/2020 6.026% 10/30/2024
172967MT5 185,000.00 BBB+ A3 10/23/2020 10/30/2020 185,000.00 0.78 1,919.87 184,950.05185,000.00

AMERICAN EXPRESS CO CORP

NOTES (CALLABLE
DTD 03/04/2022 2.250% 03/04/2025
025816CQ0 40,000.00 BBB+ A2 3/1/2022 3/4/2022 39,959.60 2.29 292.50 39,133.4839,990.93

BMW US CAPITAL LLC CORP NOTES
DTD 04/01/2022 3.250% 04/01/2025
05565EBZ7 110,000.00 A A2 3/28/2022 4/1/2022 109,896.60 3.28 893.75 108,184.34109,974.15

BANK OF NY MELLON (CALLABLE)

CORP NOTES
DTD 04/24/2020 1.600% 04/24/2025
06406RAN7 110,000.00 A A1 3/11/2021 3/15/2021 112,607.00 1.01 327.56 106,744.77110,471.74 CINTAS CORPORATION NO. 2 CORP

NOTE (CALL
DTD 05/03/2022 3.450% 05/01/2025
17252MAP5 100,000.00 A- A3 4/26/2022 5/3/2022 99,978.00 3.46 575.00 98,398.9099,993.89

USAA CAPITAL CORP CORPORATE
NOTES
DTD 05/26/2022 3.375% 05/01/2025
90327QD89 180,000.00 AA Aa1 5/23/2022 5/26/2022 179,411.40 3.49 1,012.50 177,048.18179,832.93

NATIONAL AUSTRALIA BK/NY

CORPORATE NOTES
DTD 06/09/2022 3.500% 06/09/2025
63254ABD9 250,000.00 AA- Aa2 5/31/2022 6/9/2022 250,000.00 3.50 534.72 245,744.50250,000.00

NATIONAL RURAL UTIL COOP

CORPORATE NOTES
DTD 05/04/2022 3.450% 06/15/2025
63743HFE7 40,000.00 A- A2 4/27/2022 5/4/2022 39,989.20 3.46 61.33 39,221.0439,996.69

IBM CORP CORPORATE NOTES
DTD 07/27/2022 4.000% 07/27/2025
459200KS9 175,000.00 A- A3 7/20/2022 7/27/2022 175,000.00 4.00 2,994.44 172,532.33175,000.00

BMW US CAPITAL LLC CORPORATE
NOTES
DTD 08/11/2023 5.300% 08/11/2025
05565ECC7 240,000.00 A A2 8/8/2023 8/11/2023 239,985.60 5.30 4,946.67 239,719.44239,992.00

CITIBANK NA CORP NOTES
(CALLABLE)
DTD 09/29/2023 5.864% 09/29/2025
17325FBA5 250,000.00 A+ Aa3 9/26/2023 9/29/2023 250,000.00 5.86 3,746.44 250,964.00250,000.00

AMERICAN HONDA FINANCE

CORPORATE NOTES
DTD 10/04/2023 5.800% 10/03/2025
02665WEQ0 80,000.00 A- A3 10/2/2023 10/4/2023 79,925.60 5.85 1,134.22 80,425.4479,952.19 37 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate

PNC FINANCIAL SERVICES CORP

NOTE (CALLAB
DTD 10/28/2022 5.671% 10/28/2025
693475BH7 150,000.00 A- A3 10/25/2022 10/28/2022 150,000.00 5.67 1,488.64 149,453.25150,000.00

NATIONAL RURAL UTIL COOP

CORPORATE NOTES
DTD 10/31/2022 5.450% 10/30/2025
63743HFF4 40,000.00 A- A2 10/20/2022 10/31/2022 39,946.40 5.50 369.39 40,009.3639,976.21

COMCAST CORP CORPORATE NOTES
DTD 11/07/2022 5.250% 11/07/2025
20030NDZ1 60,000.00 A- A3 10/31/2022 11/7/2022 59,983.80 5.26 472.50 59,966.5259,992.70

LINDE INC/CT CORPORATE NOTES
(CALLABLE)
DTD 12/05/2022 4.700% 12/05/2025
53522KAB9 330,000.00 A A2 11/28/2022 12/5/2022 329,643.60 4.74 1,120.17 327,739.17329,830.25

BANK OF AMERICA CORP NOTES
(CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025
06051GKE8 350,000.00 A- A1 12/1/2021 12/6/2021 350,000.00 1.53 371.88 342,571.60350,000.00

AUST & NZ BANKING GRP NY

CORPORATE NOTES
DTD 12/08/2022 5.088% 12/08/2025
05254JAA8 250,000.00 AA- Aa2 11/29/2022 12/8/2022 250,000.00 5.09 812.67 249,781.75250,000.00

TOYOTA MOTOR CREDIT CORP

CORPORATE NOTES
DTD 01/05/2024 4.800% 01/05/2026
89236TLJ2 230,000.00 A+ A1 1/2/2024 1/5/2024 229,822.90 4.84 5,397.33 228,846.09229,864.65

CATERPILLAR FINL SERVICE

CORPORATE NOTES
DTD 01/06/2023 4.800% 01/06/2026
14913R3B1 135,000.00 A A2 1/3/2023 1/6/2023 134,966.25 4.81 3,150.00 134,365.91134,982.94

COOPERAT RABOBANK UA/NY
DTD 01/09/2024 4.850% 01/09/2026
21688ABA9 465,000.00 A+ Aa2 1/2/2024 1/9/2024 464,823.30 4.87 10,775.08 462,670.35464,864.00

NATIONAL AUSTRALIA BK/NY

CORPORATE NOTES
DTD 01/12/2023 4.966% 01/12/2026
63253QAA2 305,000.00 AA- Aa2 1/4/2023 1/12/2023 305,000.00 4.97 7,110.35 303,508.55305,000.00

CITIGROUP INC CORP NOTES
(CALLABLE)
DTD 01/25/2022 2.014% 01/25/2026
17327CAN3 45,000.00 BBB+ A3 1/18/2022 1/25/2022 45,000.00 2.01 392.73 43,930.7645,000.00

STATE STREET CORP NOTES
(CALLABLE)
DTD 01/26/2023 4.857% 01/26/2026
857477BZ5 35,000.00 A A1 1/23/2023 1/26/2023 35,000.00 4.86 731.92 34,780.2435,000.00 38 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate

STATE STREET CORP (CALLABLE)

CORPORATE N
DTD 02/07/2022 1.746% 02/06/2026
857477BR3 90,000.00 A A1 2/2/2022 2/7/2022 90,000.00 1.75 632.93 87,810.2190,000.00

PEPSICO INC CORP NOTES
(CALLABLE)
DTD 02/15/2023 4.550% 02/13/2026
713448FQ6 160,000.00 A+ A1 2/13/2023 2/15/2023 159,907.20 4.57 2,790.67 158,931.04159,949.78

MORGAN STANLEY CORP NOTES
(CALLABLE)
DTD 02/18/2022 2.630% 02/18/2026
61747YEM3 265,000.00 A- A1 2/16/2022 2/18/2022 265,000.00 2.63 2,574.84 259,129.46265,000.00

EXXON MOBIL CORP NOTES
(CALLABLE)
DTD 03/03/2016 3.043% 03/01/2026
30231GAT9 350,000.00 AA- Aa2 1/30/2023 2/1/2023 336,728.00 4.37 3,550.17 339,025.75342,820.84

NATIONAL RURAL UTIL COOP CORP

NOTES (CAL
DTD 02/09/2023 4.450% 03/13/2026
63743HFH0 55,000.00 A- A2 2/2/2023 2/9/2023 54,960.95 4.47 734.25 54,207.5654,978.54

COMMONWEALTH BK AUSTR NY

CORPORATE NOTES
DTD 03/13/2023 5.316% 03/13/2026
20271RAR1 300,000.00 AA- Aa2 3/6/2023 3/13/2023 300,000.00 5.32 4,784.40 301,122.60300,000.00

NESTLE HOLDINGS INC CORPORATE
NOTES
DTD 03/14/2023 5.250% 03/13/2026
641062BK9 150,000.00 AA- Aa3 3/7/2023 3/14/2023 149,950.50 5.26 2,362.50 150,474.75149,971.97

STATE STREET CORP NOTES
(CALLABLE)
DTD 10/29/2020 2.901% 03/30/2026
857477BM4 150,000.00 A A1 2/17/2022 2/22/2022 153,019.50 2.38 1,099.97 146,678.10150,725.53

STATE STREET CORP NOTES
(CALLABLE)
DTD 10/29/2020 2.901% 03/30/2026
857477BM4 50,000.00 A A1 2/3/2022 2/7/2022 51,524.50 2.13 366.66 48,892.7050,361.52

JPMORGAN CHASE & CO (CALLABLE)

CORPORATE
DTD 04/26/2022 4.080% 04/26/2026
46647PCZ7 225,000.00 A- A1 4/19/2022 4/26/2022 225,000.00 4.08 1,657.50 221,886.90225,000.00

JOHN DEERE CAPITAL CORP

CORPORATE NOTES
DTD 06/08/2023 4.750% 06/08/2026
24422EWX3 110,000.00 A A1 6/5/2023 6/8/2023 109,936.20 4.77 333.82 109,346.49109,958.84

AMERICAN HONDA FINANCE

CORPORATE NOTES
DTD 07/07/2023 5.250% 07/07/2026
02665WEK3 100,000.00 A- A3 7/5/2023 7/7/2023 99,877.00 5.29 2,537.50 100,089.6099,917.40 39 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate

TRUIST FIN CORP NOTES (CALLABLE)
DTD 07/28/2022 4.260% 07/28/2026
89788MAH5 145,000.00 A- Baa1 7/25/2022 7/28/2022 145,000.00 4.26 2,625.23 142,704.94145,000.00

MERCEDES-BENZ FIN NA

CORPORATE NOTES
DTD 08/03/2023 5.200% 08/03/2026
58769JAK3 200,000.00 A A2 8/21/2023 8/23/2023 198,554.00 5.47 4,275.56 199,994.20198,974.63

STATE STREET CORP NOTES
(CALLABLE)
DTD 08/03/2023 5.272% 08/03/2026
857477CD3 175,000.00 A A1 7/31/2023 8/3/2023 175,000.00 5.27 3,792.91 175,008.40175,000.00

PACCAR FINANCIAL CORP

CORPORATE NOTES
DTD 08/10/2023 5.050% 08/10/2026
69371RS56 200,000.00 A+ A1 8/3/2023 8/10/2023 199,900.00 5.07 3,955.83 199,973.80199,929.74

TRUIST FINANCIAL CORP NOTES
(CALLABLE)
DTD 10/28/2022 5.900% 10/28/2026
89788MAJ1 155,000.00 A- Baa1 10/26/2022 10/28/2022 155,000.00 5.90 1,600.38 155,289.54155,000.00

STATE STREET CORP NOTES
(CALLABLE)
DTD 11/04/2022 5.751% 11/04/2026
857477BX0 65,000.00 A A1 11/1/2022 11/4/2022 65,000.00 5.75 591.87 65,279.4465,000.00

ROCHE HOLDINGS INC CORP NOTE
(CALLABLE)
DTD 11/13/2023 5.265% 11/13/2026
771196CE0 255,000.00 AA Aa2 11/6/2023 11/13/2023 255,000.00 5.27 1,790.10 256,367.57255,000.00

CATERPILLAR FINL SERVICE

CORPORATE NOTES
DTD 01/08/2024 4.500% 01/08/2027
14913UAE0 170,000.00 A A2 1/2/2024 1/8/2024 169,816.40 4.54 3,676.25 168,202.76169,844.19

AUST & NZ BANKING GRP NY BONDS
DTD 01/18/2024 4.750% 01/18/2027
05253JAZ4 460,000.00 AA- Aa2 1/8/2024 1/18/2024 460,000.00 4.75 9,893.19 457,045.42460,000.00

BANK OF AMERICA CORP NOTES
(CALLABLE)
DTD 01/20/2023 5.080% 01/20/2027
06051GLE7 345,000.00 A- A1 1/17/2023 1/20/2023 345,000.00 5.08 7,838.02 342,762.33345,000.00

PNC FINANCIAL SERVICES CORP

NOTES (CALLA
DTD 01/24/2023 4.758% 01/26/2027
693475BL8 25,000.00 A- A3 1/19/2023 1/24/2023 25,000.00 4.76 512.15 24,703.8825,000.00

MORGAN STANLEY CORPORATE

NOTES (CALLABLE
DTD 01/19/2023 5.050% 01/28/2027
61747YEZ4 75,000.00 A- A1 1/17/2023 1/19/2023 74,998.50 5.05 1,609.69 74,378.4874,999.04 40 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate

TEXAS INSTRUMENTS CORP NOTES
(CALLABLE)
DTD 02/08/2024 4.600% 02/08/2027
882508CE2 210,000.00 A+ Aa3 2/5/2024 2/8/2024 209,865.60 4.62 3,837.17 208,469.94209,882.29

ELI LILLY & CO CORPORATE NOTES
DTD 02/09/2024 4.500% 02/09/2027
532457CJ5 240,000.00 A+ A1 2/7/2024 2/9/2024 239,872.80 4.52 4,260.00 237,499.68239,888.50

BRISTOL-MYERS SQUIBB CORP

NOTES (CALLABL
DTD 02/22/2024 4.900% 02/22/2027
110122EE4 70,000.00 A A2 2/14/2024 2/22/2024 69,924.40 4.94 1,229.08 69,958.8469,932.83

CISCO SYSTEMS INC CORPORATE

NOTES (CALLA
DTD 02/26/2024 4.800% 02/26/2027
17275RBQ4 290,000.00 AA- A1 2/21/2024 2/26/2024 289,623.00 4.85 4,833.33 289,203.08289,663.79

DEERE & COMPANY CAPITAL CORP
NOTE
DTD 03/07/2024 4.850% 03/05/2027
24422EXM6 160,000.00 A A1 3/4/2024 3/7/2024 159,851.20 4.88 2,457.33 159,450.24159,865.87

AMERICAN HONDA FINANCE

CORPORATE NOTES
DTD 03/13/2024 4.900% 03/12/2027
02665WFD8 140,000.00 A- A3 3/11/2024 3/13/2024 139,923.00 4.92 2,058.00 139,491.10139,930.19

STATE STREET CORP NOTE
(CALLABLE)
DTD 03/18/2024 4.993% 03/18/2027
857477CL5 90,000.00 A A1 3/13/2024 3/18/2024 90,000.00 4.99 1,285.70 89,737.2990,000.00

HORMEL FOODS CORP CORPORATE

NOTES (CALLA
DTD 03/08/2024 4.800% 03/30/2027
440452AK6 100,000.00 A- A1 3/5/2024 3/8/2024 99,903.00 4.83 1,506.66 99,406.9099,912.29

ADOBE INC CORPORATE NOTES
DTD 04/04/2024 4.850% 04/04/2027
00724PAE9 145,000.00 A+ A1 4/1/2024 4/4/2024 144,927.50 4.87 1,699.52 145,039.15144,932.93

UNITEDHEALTH GROUP INC

CORPORATE NOTES (
DTD 03/21/2024 4.600% 04/15/2027
91324PEY4 355,000.00 A+ A2 3/19/2024 3/21/2024 352,525.65 4.85 4,536.11 351,907.95352,735.68

NATIONAL RURAL UTIL CORP NOTES
(CALLABLE
DTD 05/10/2024 5.100% 05/06/2027
63743HFR8 170,000.00 A- A2 5/7/2024 5/10/2024 169,894.60 5.12 1,228.25 169,973.99169,899.23

PACCAR FINANCIAL CORP

CORPORATE NOTES
DTD 05/13/2024 5.000% 05/13/2027
69371RT22 50,000.00 A+ A1 5/6/2024 5/13/2024 49,961.50 5.03 333.33 50,098.0549,963.09 41 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate

GOLDMAN SACHS BANK USA

CORPORATE NOTES (
DTD 05/21/2024 5.414% 05/21/2027
38151LAG5 140,000.00 A+ A1 5/15/2024 5/21/2024 140,000.00 5.41 842.18 139,707.12140,000.00

HOME DEPOT CORP NOTES
(CALLABLE)
DTD 06/25/2024 4.875% 06/25/2027
437076DB5 105,000.00 A A2 6/17/2024 6/25/2024 104,652.45 5.00 85.31 104,706.74104,654.21

JPMORGAN CHASE & CO CORP NOTE
(CALLABLE)
DTD 10/23/2023 6.070% 10/22/2027
46647PDW3 120,000.00 A- A1 10/16/2023 10/23/2023 120,000.00 6.07 1,396.10 122,029.32120,000.00

BP CAP MARKETS AMERICA

CORPORATE NOTES (
DTD 05/17/2024 5.017% 11/17/2027
10373QBY5 255,000.00 A- A1 5/15/2024 5/17/2024 255,000.00 5.02 1,563.63 254,500.97255,000.00

MORGAN STANLEY CORP NOTES
(CALLABLE)
DTD 04/19/2024 5.652% 04/13/2028
61747YFP5 25,000.00 A- A1 4/17/2024 4/19/2024 25,000.00 5.65 282.60 25,246.0325,000.00

JPMORGAN CHASE & CO

CORPORATE NOTES (CAL
DTD 04/22/2024 5.571% 04/22/2028
46647PEE2 215,000.00 A- A1 4/15/2024 4/22/2024 215,000.00 5.57 2,295.72 217,088.08215,000.00

MORGAN STANLEY BANK NA BANK

NOTES (CALLA
DTD 05/30/2024 5.504% 05/26/2028
61690U8B9 250,000.00 A+ Aa3 5/29/2024 5/30/2024 250,192.50 5.48 1,184.89 251,765.00250,187.33 11,890,000.00 11,876,229.20 153,727.35 11,811,794.57Security Type Sub-Total 4.45 11,878,595.52 ABS
VWALT 2022-A A3
DTD 06/14/2022 3.440% 07/21/2025
92868AAC9 31,150.91 NR Aaa 6/7/2022 6/14/2022 31,148.44 3.44 32.74 31,077.6331,150.07 KCOT 2021-1A A3
DTD 04/14/2021 0.620% 08/15/2025
50117TAC5 16,612.50 NR Aaa 4/6/2021 4/14/2021 16,609.10 0.62 4.58 16,490.6616,611.62 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 3,217.17 AAA NR 4/20/2021 4/28/2021 3,216.84 0.38 0.54 3,209.073,217.08 KCOT 2021-2A A3
DTD 07/28/2021 0.560% 11/17/2025
50117XAE2 56,072.11 NR Aaa 7/20/2021 7/28/2021 56,070.01 0.56 13.96 55,184.8956,071.44 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
14316NAC3 5,784.87 AAA NR 1/20/2021 1/27/2021 5,783.72 0.34 0.87 5,749.135,784.53 42 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
43815GAC3 53,942.66 NR Aaa 11/16/2021 11/24/2021 53,931.28 0.89 13.19 52,850.3553,938.40 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 25,360.89 AAA NR 4/13/2021 4/21/2021 25,355.43 0.52 5.86 25,084.4225,359.04 TAOT 2021-D A3
DTD 11/15/2021 0.710% 04/15/2026
89238JAC9 56,201.55 AAA NR 11/9/2021 11/15/2021 56,200.35 0.71 17.73 55,077.2856,201.06 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 37,801.04 AAA NR 11/9/2021 11/17/2021 37,792.60 0.75 12.43 37,144.5737,797.53 HAROT 2022-1 A3
DTD 02/23/2022 1.880% 05/15/2026
43815BAC4 120,742.63 AAA Aaa 2/15/2022 2/23/2022 120,724.48 1.88 100.89 118,313.42120,734.59 CARMX 2021-3 A3
DTD 07/28/2021 0.550% 06/15/2026
14317DAC4 74,807.28 AAA Aaa 7/21/2021 7/28/2021 74,794.96 0.55 18.29 73,225.3574,802.35 FORDO 2022-A A3
DTD 01/24/2022 1.290% 06/15/2026
345286AC2 33,854.20 AAA NR 1/19/2022 1/24/2022 33,850.19 1.29 19.41 33,206.9733,852.41 VALET 2021-1 A3
DTD 12/13/2021 1.020% 06/22/2026
92868KAC7 62,989.61 AAA Aaa 12/7/2021 12/13/2021 62,987.14 1.02 19.63 61,845.4562,988.53 BMWOT 2022-A A3
DTD 05/18/2022 3.210% 08/25/2026
05602RAD3 77,777.17 AAA Aaa 5/10/2022 5/18/2022 77,773.13 3.21 41.61 76,725.4577,775.14 COPAR 2021-1 A3
DTD 10/27/2021 0.770% 09/15/2026
14044CAC6 60,856.92 AAA Aaa 10/19/2021 10/27/2021 60,855.76 0.77 20.83 59,399.5960,856.40 TAOT 2022-B A3
DTD 04/13/2022 2.930% 09/15/2026
89238FAD5 94,320.14 AAA Aaa 4/7/2022 4/13/2022 94,317.94 2.93 122.83 92,787.9794,319.04 GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
362554AC1 49,199.37 AAA Aaa 10/13/2021 10/21/2021 49,198.13 0.68 13.94 48,075.3949,198.81 HART 2022-A A3
DTD 03/16/2022 2.220% 10/15/2026
448977AD0 160,278.49 AAA NR 3/9/2022 3/16/2022 160,272.32 2.22 158.14 157,246.97160,275.41 WOART 2021-D A3
DTD 11/03/2021 0.810% 10/15/2026
98163KAC6 67,262.03 AAA NR 10/26/2021 11/3/2021 67,252.86 0.81 24.21 65,821.2667,257.79 KCOT 2022-1A A3
DTD 03/23/2022 2.670% 10/15/2026
50117EAC8 197,190.26 NR Aaa 3/15/2022 3/23/2022 197,162.07 2.67 234.00 193,240.97197,176.12 ALLYA 2022-1 A3
DTD 05/18/2022 3.310% 11/15/2026
02008JAC0 180,334.99 AAA Aaa 5/10/2022 5/18/2022 180,300.08 3.31 265.29 177,819.95180,316.56 HART 2022-B A3
DTD 07/20/2022 3.720% 11/16/2026
44918MAD2 129,485.33 AAA NR 7/12/2022 7/20/2022 129,485.27 3.72 214.08 127,905.00129,485.30 43 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
GMCAR 2022-1 A3
DTD 01/19/2022 1.260% 11/16/2026
380146AC4 53,581.51 AAA NR 1/11/2022 1/19/2022 53,576.85 1.26 28.13 52,393.0853,579.21 KCOT 2022-2A A3
DTD 07/21/2022 4.090% 12/15/2026
50117JAC7 225,000.00 NR Aaa 7/14/2022 7/21/2022 224,958.76 4.09 409.00 222,218.33224,976.99 CHAIT 2024-A1 A
DTD 01/31/2024 4.600% 01/15/2027
161571HV9 415,000.00 AAA NR 1/24/2024 1/31/2024 414,936.80 4.61 848.44 410,294.98414,945.22 HDMOT 2022-A A3
DTD 04/20/2022 3.060% 02/15/2027
41284YAD8 119,045.18 AAA Aaa 4/12/2022 4/20/2022 119,025.36 3.06 161.90 117,399.61119,034.39 GMCAR 2022-2 A3
DTD 04/13/2022 3.100% 02/16/2027
362585AC5 86,235.16 AAA Aaa 4/5/2022 4/13/2022 86,217.15 3.10 111.39 84,860.2086,225.39 CARMX 2022-2 A3
DTD 04/28/2022 3.490% 02/16/2027
14317HAC5 126,018.94 AAA Aaa 4/21/2022 4/28/2022 125,999.77 3.49 195.47 124,223.77126,008.45 COMET 2022-A1 A1
DTD 03/30/2022 2.800% 03/15/2027
14041NFZ9 450,000.00 AAA NR 3/23/2022 3/30/2022 449,966.07 2.80 560.00 441,454.73449,981.51 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
14318MAD1 224,797.38 AAA NR 7/12/2022 7/20/2022 224,792.08 3.97 396.64 222,008.03224,794.26 COPAR 2022-1 A3
DTD 05/04/2022 3.170% 04/15/2027
14043QAC6 116,278.15 AAA NR 4/26/2022 5/4/2022 116,252.74 3.17 163.82 114,156.02116,263.83 GMCAR 2022-3 A3
DTD 07/13/2022 3.640% 04/16/2027
36265WAD5 138,607.48 NR Aaa 7/6/2022 7/13/2022 138,606.52 3.64 210.22 136,716.96138,606.92 ALLYA 2022-2 A3
DTD 10/12/2022 4.760% 05/17/2027
02008MAC3 382,853.22 AAA Aaa 10/4/2022 10/12/2022 382,848.47 4.76 809.95 380,571.76382,850.25 COPAR 2022-2 A3
DTD 08/10/2022 3.660% 05/17/2027
14043GAD6 140,000.00 AAA Aaa 8/2/2022 8/10/2022 139,989.98 3.66 227.73 137,791.61139,993.96 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
65480JAC4 155,000.00 AAA Aaa 9/20/2022 9/28/2022 154,967.93 4.46 307.24 153,439.10154,980.10 AMXCA 2022-2 A
DTD 05/24/2022 3.390% 05/17/2027
02582JJT8 175,000.00 AAA NR 5/17/2022 5/24/2022 174,961.29 3.39 263.67 171,875.90174,977.66 KCOT 2023-1A A3
DTD 03/31/2023 5.020% 06/15/2027
50117KAC4 160,000.00 NR Aaa 3/28/2023 3/31/2023 159,974.96 5.02 356.98 159,098.85159,982.42 DCENT 2022-A3 A3
DTD 08/09/2022 3.560% 07/15/2027
254683CW3 290,000.00 AAA Aaa 8/2/2022 8/9/2022 289,964.01 3.56 458.84 284,379.92289,977.84 MBART 2022-1 A3
DTD 11/22/2022 5.210% 08/16/2027
58768PAC8 365,000.00 AAA Aaa 11/15/2022 11/22/2022 364,927.80 5.21 845.18 363,938.58364,952.33 44 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
CARMX 2022-4 A3
DTD 10/31/2022 5.340% 08/16/2027
14318UAD3 280,000.00 AAA NR 10/26/2022 10/31/2022 279,934.34 5.35 664.53 279,379.91279,957.19 TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
891940AC2 145,000.00 AAA NR 1/24/2023 1/30/2023 144,999.93 4.63 298.38 143,725.60144,999.95 NAROT 2023-A A3
DTD 04/26/2023 4.910% 11/15/2027
65480WAD3 280,000.00 NR Aaa 4/18/2023 4/26/2023 279,950.52 4.91 611.02 278,265.79279,963.37 MBART 2023-1 A3
DTD 01/25/2023 4.510% 11/15/2027
58770AAC7 120,000.00 AAA NR 1/18/2023 1/25/2023 119,985.60 4.51 240.53 118,775.42119,989.89 HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
41285JAD0 155,000.00 NR Aaa 2/13/2023 2/23/2023 154,984.39 5.05 347.89 154,241.97154,988.78 KCOT 2023-2A A3
DTD 07/26/2023 5.280% 01/18/2028
500945AC4 120,000.00 NR Aaa 7/18/2023 7/26/2023 119,969.69 5.29 281.60 120,153.00119,976.00 TAOT 2023-B A3
DTD 05/23/2023 4.710% 02/15/2028
891941AD8 180,000.00 NR Aaa 5/16/2023 5/23/2023 179,989.94 4.71 376.80 178,086.76179,992.30 FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
344928AD8 120,000.00 AAA NR 3/28/2023 3/31/2023 119,987.48 4.65 248.00 118,873.39119,990.70 GMCAR 2023-2 A3
DTD 04/12/2023 4.470% 02/16/2028
362583AD8 90,000.00 AAA Aaa 4/4/2023 4/12/2023 89,997.53 4.47 167.63 88,994.6889,998.15 BMWOT 2023-A A3
DTD 07/18/2023 5.470% 02/25/2028
05592XAD2 80,000.00 AAA NR 7/11/2023 7/18/2023 79,985.82 5.47 72.93 80,251.5779,988.76 DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
254683CY9 145,000.00 NR Aaa 4/4/2023 4/11/2023 144,991.59 4.31 277.76 142,783.34144,993.68 AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
02582JJZ4 100,000.00 AAA NR 6/7/2023 6/14/2023 99,991.13 4.87 216.44 99,586.9999,993.02 FORDO 2023-B A3
DTD 06/26/2023 5.230% 05/15/2028
344930AD4 105,000.00 AAA NR 6/21/2023 6/26/2023 104,998.58 5.23 244.07 104,829.62104,998.88 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
89239FAD4 80,000.00 AAA NR 11/7/2023 11/14/2023 79,991.38 5.54 196.98 80,644.5079,992.40 HDMOT 2023-B A3
DTD 09/27/2023 5.690% 08/15/2028
41285YAC9 210,000.00 AAA Aaa 9/20/2023 9/27/2023 209,952.52 5.70 531.07 211,238.20209,959.08 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 230,000.00 AAA Aaa 8/15/2023 8/23/2023 229,985.74 5.53 565.29 230,480.45229,988.19 BAAT 2024-1A A3
DTD 05/22/2024 5.350% 11/15/2028
09709AAC6 50,000.00 NR Aaa 5/14/2024 5/22/2024 49,991.86 5.35 118.89 50,136.5949,992.04 45 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 125,000.00 NR Aaa 12/7/2023 12/14/2023 124,983.21 4.98 276.67 124,806.74124,984.88 HUNT 2024-1A A3
DTD 02/22/2024 5.230% 01/16/2029
446144AE7 140,000.00 AAA Aaa 2/13/2024 2/22/2024 139,994.79 5.23 325.42 139,596.97139,995.13 BMWOT 2024-A A3
DTD 06/11/2024 5.180% 02/26/2029
096919AD7 200,000.00 AAA Aaa 6/4/2024 6/11/2024 199,969.62 5.18 575.56 200,830.40199,969.93 FORDO 2024-B A3
DTD 06/24/2024 5.100% 04/15/2029
34531QAD1 350,000.00 AAA Aaa 6/18/2024 6/24/2024 349,996.78 5.10 347.08 349,937.73349,996.79 8,522,659.14 8,521,681.08 14,694.19 8,439,922.79Security Type Sub-Total 4.05 8,522,009.06 48,080,159.14 47,877,028.78 463,755.01 47,642,206.25Managed Account Sub Total Securities Sub Total
Accrued Interest
$48,080,159.14 $47,877,028.78 $463,755.01 $47,642,206.25 $463,755.01
47,944,026.75
$47,944,026.75

4.36 4.36%
Total Investments $48,105,961.26
46 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Appendix
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Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.

Investment advisory services are provided by PFM Asset Management LLC ("PFMAM"), an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. ("USBAM"). USBAM is a subsidiary of U.S. Bank National Association ("U.S. Bank"). U.S. Bank is a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.

PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sources external to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements. While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to particular issuers are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion of the strategy rated by a NRSRO.

It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.

Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to be lower than the performance shown.

The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast, projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion as of the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and data presented are not necessarily indicative of future events or expected performance.

For more information regarding PFMAM's services or entities, please visit www.pfmam.com. © 2023 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. 68 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Appendix
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Important Disclosures
Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Refinitiv, Bloomberg, or Telerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimated market value.

In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and forward settling sales are excluded.

Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns.

Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets.

Money market fund/cash balances are included in performance and duration computations.

Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.

Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.

MBS maturities are represented by expected average life. 69 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Appendix
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Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.

Agencies: Federal agency securities and/or Government-sponsored enterprises.

Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.

Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans, leases, credit card balances, and receivables.

Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.

Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.

Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector added or subtracted from the overall portfolio performance.

Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.

Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compounding on investment returns, while nominal yield does not.

FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.

Interest Rate: Interest per year divided by principal amount and expressed as a percentage.

Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.

Maturity: The date upon which the principal or stated value of an investment becomes due and payable.

Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.

Par Value: The nominal dollar face amount of a security.

Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the mortgage-backed security.
70 © PFM Asset Management LLC pfmam.com

CITY OF ALAMEDA
For the Quarter Ended June 30, 2024
Appendix
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Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.

Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments and maturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.

Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whose decisions are binding on its members.

Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.

Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.

U.S. Treasury: The department of the U.S. government that issues Treasury securities.

Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.

YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time period from purchase date to maturity, stated as a percentage on an annualized basis.

YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis. 71