% of
Par Value Market Value Book Value Portfolio
Cash In Bank (Schedule A) 3,098,467 3,098,467 3,098,467 8.2% LAIF Statement 18,674,461 18,391,141 18,674,461 49.3%
Investments (Schedule B) 16,980,000 16,315,337 16,092,095 42.5% Total Cash and Investments 38,752,928 37,804,946 37,865,023 100% 6/30/2024
Robert Barron, Finance Director Date
Town of Atherton
Quarterly Treasurer's Report
Portfolio Summary
June 30, 2024
The above investments are consistent with the Town's Statement of Investment Policy and are allowable under current legislation of the State of California. Investments are selected using safety, liquidity, and yield as the criteria. The Town has sufficient cash flow to cover anticipated expenditures through the next six months.
Schedule A
Reconciled
Name of Depository Investment Type Bank Balance
Wells Fargo General Account 2,988,594
Wells Fargo Wells Fargo Trust MMF-Cash 109,873
Total 3,098,467
Town of Atherton
Quarterly Treasurer's Report
Portfolio Details - Cash In Bank
June 30, 2024
Schedule B
Town of Atherton
Treasurer's Report Schedule B
Portfolio Details - Investments
June 30, 2024
See next pages Insight Report
Town of Atherton
Quarterly Treasurer's Report
Cash & Investments Balance By Fund
June 30, 2024
Fund No. Fund Name
December
Balance
101 General Fund 16,929,447
105 Tennis Fund 137,367
610 Equipment Replacement Fund 1,083,182
614 Worker's Compensation 1,990,463
615 General Liability 673,976
616 Employee Benefits 1,830,811
Total Non-Restricted 22,645,246
201 Special Tax Fund 494,064
202 County Measure A Fund 1,768,740
203 Gas Tax Fund 525,995
204 Measure M 198,321
205 Measure W 887,747
209 SLES/COPS Grant 188
213 Library Fund 250,922
221 Refuse Rate and Stabilization 548,507
401 GF Projects 8,731,783
402 Storm Drainage 33,290
403 Atherton Channel Drainage District 1,154,383
406 Facilities Construction 591,855
730 H-P Park Improvement 6,752
740 Tree Committee 27,229
Total Restricted 15,219,777
Total Cash & Investments 37,865,023
Date Begin $$$ Contribution Earnings Expenses Distribution Ending $$$ Date 6/1/2024 15,174,461 3,500,000 - 18,674,461 6/30/2024
Town of Atherton
Quarterly Treasurer's Report
Local Agency Investment Fund Summary (LAIF)
June 30, 2024
Date Begin $$$ Contribution Earnings Expenses Distribution Ending $$$ Date 6/1/2024 8,607,573 99,935 (3,867) (34,716) 8,668,925 6/30/2024 (*) Town of Atherton
Quarterly Treasurer's Report
PARS Trust Account Summary
June 30, 2024
* Recent available PARS report
FOR PROFESSIONAL CLIENTS ONLY
NOT TO BE REPRODUCED WITHOUT PRIOR WRITTEN APPROVALPLEASE REFER TO ALL RISK DISCLOSURES AT THE BACK OF THIS DOCUMENTTOWN OF ATHERTONJune 2024 Treasurers Report- Schedule B
Contents
Fixed income market review 3Activity and performance summary 4Recap of securities held 6Maturity distribution of securities held 7Securities held 8GASB 40 - Deposit and investment risk disclosure 11Detail of return and interest received 14Transaction report 16Additional information 17
FIXED INCOME MARKET REVIEW
As of June 30, 2024
TOWN OF ATHERTON
Chart 1: The Fed modestly dialed back its rate cut expectations.Source: Bureau of Labor Statistics, Macrobond, June 30, 2024Chart 2: CPI resumed its descent as core goods prices fell.Source: Bureau of Labor Statistics, Macrobond, June 30, 2024 Economic Indicators and Monetary PolicyAs expected, the FOMC held the Fed Funds Rate at 5.25% to 5.5% at the June meeting. Further,the Fed left its quarterly economic projections largely unchanged, save for very slight increasesin its unemployment, PCE and core PCE forecasts for 2025. It adjusted its dot plotto reflect a median expectation of one rate cut in 2024, down from its last projection of three. Notably alarger number of committee members voted for two cuts rather than one. The committee alsoprojected a steeper course of four rate cuts in 2025, up from three. This moves the dotsin line with the latest market expectations for the next two years (Chart 1).CPI was flat in May, down from 0.3% in April. Year-on-year, this took the rate from 3.4% to 3.3%.The slowdown in the headline index was driven by 2% drop in energy prices, while food priceswere up modestly by 0.1%. Core CPI rose 0.2% in June, taking the year-on-year measure downfrom 3.6% to 3.4%. The PCE report also softened with the headline figure flat in May and downfrom 2.7% to 2.6% year-on-year with core PCE at 0.1% in May, down from 2.8% to 2.6% year-onyear.Labor market data offered mixed signals. The establishment payrolls survey was stronger thanexpected with 272,000 jobs added in May, above consensus expectations for 175,000.However, the household survey was weaker, and the unemployment rate increased 0.1ppfrom 3.9% to 4%. Wage growth was 0.4% in May, up from 4% to 4.1% year-on-year, slightly aboveexpectations.The third estimate of Q1 GDP growth was revised up from 1.3% to 1.4%. The revisions werebroad-based across categories, with upgrades to business fixed investment, inventories andnet exports. However, consumer spending was revised down. Final sales to domestic privatepurchasers (used by the Fed as a gauge of domestic consumption) was also revised slightlylower, from 2.8% to 2.6%.Interest Rate Summary Yields generally fell during the month. At the end of June, the 3-month US Treasury bill yielded5.36%, the 6-month US Treasury bill yielded 5.33%, the 2-year US Treasury note yielded 4.75%,the 5-year US Treasury note yielded 4.38% and the 10-year US Treasury note yielded 4.40%. 3 ACTIVITY AND PERFORMANCE SUMMARY
For the period June 1, 2024 - June 30, 2024
TOWN OF ATHERTON
Amortized Cost Basis Activity Summary
Opening balance 16,504,502.00
Income received 16,843.23
Total receipts 16,843.23Total disbursements 0.00
Interportfolio transfers 0.00
Total Interportfolio transfers 0.00
Realized gain (loss) 0.00Change in accruals from security movement 0.00 Total amortization expense (1,748.22)Total OID/MKT accretion income 28,537.74 Return of capital 0.00
Closing balance 16,548,134.75Ending fair value 16,425,210.23 Unrealized gain (loss) (122,924.52)
Comparative Rates of Return (%)
* Twelve
month trailing
* Six
month trailing
* One month
Fed Funds 5.30 2.60 0.41Overnight Repo 5.36 2.64 0.43Merrill Lynch 3m US Treas Bill 5.31 2.59 0.42Merrill Lynch 6m US Treas Bill 5.24 2.54 0.42ML 1 Year US Treasury Note 5.16 2.45 0.39ML 2 Year US Treasury Note 4.75 2.27 0.36ML 5 Year US Treasury Note 4.32 2.10 0.33 * rates reflected are cumulative
Summary of Amortized Cost Basis Return for the Period
Total portfolio
Interest earned 33,650.96Accretion (amortization) 26,789.52Realized gain (loss) on sales 0.00Total income on portfolio 60,440.48Average daily amortized cost 16,531,481.69Period return (%)Weighted average final maturity in days 775YTD return (%) Detail of Amortized Cost Basis Return
Interest
earned
Realized
gain (loss)
Accretion
(amortization)
Total
income
Cash and Cash Equivalents 436.98 0.00 436.98 0.00Corporate Bonds 11,754.11 6,710.05 18,464.16 0.00Government Agencies 7,209.71 8,278.50 15,488.21 0.00Government Bonds 14,250.16 11,800.97 26,051.13 0.00Total 33,650.96 26,789.52 0.00 60,440.48
0.362.16
4 ACTIVITY AND PERFORMANCE SUMMARY
For the period June 1, 2024 - June 30, 2024
TOWN OF ATHERTON
Fair Value Basis Activity Summary
Opening balance 16,350,409.36
Income received 16,843.23
Total receipts 16,843.23Total disbursements 0.00
Interportfolio transfers 0.00
Total Interportfolio transfers 0.00
Unrealized gain (loss) on security movements 0.00Change in accruals from security movement 0.00Return of capital 0.00Change in fair value for the period 57,957.64 Ending fair value 16,425,210.23
Comparative Rates of Return (%)
* Twelve
month trailing
* Six
month trailing
* One month
Fed Funds 5.30 2.60 0.41Overnight Repo 5.36 2.64 0.43ICE Bofa 3 Months US T-BILL 5.40 2.63 0.41ICE Bofa 6m US Treas Bill 5.46 2.55 0.42ICE Bofa 1 Yr US Treasury Note 5.02 1.95 0.43ICE BofA US Treasury 1-3 4.53 1.24 0.58ICE BofA US Treasury 1-5 4.16 0.80 0.70 * rates reflected are cumulative
Detail of Fair Value Basis Return
Interest
earned
Change in
fair value
Total
income
Cash and Cash Equivalents 436.98 0.00 436.98Corporate Bonds 11,754.11 11,768.63 23,522.74Government Agencies 7,209.71 16,049.14 23,258.85Government Bonds 14,250.16 30,139.87 44,390.03Total 33,650.96 57,957.64 91,608.60 Summary of Fair Value Basis Return for the Period
Total portfolio
Interest earned 33,650.96Total income on portfolio 91,608.60Average daily total value * 16,507,135.32Period return (%) 0.56Weighted average final maturity in days 775Change in fair value 57,957.64YTD return (%) 1.30* Total value equals market value and accrued interest 5 RECAP OF SECURITIES HELD
As of June 30, 2024
TOWN OF ATHERTON
Weighted
average
final
maturity (days)
Weighted
average
effective
duration (years)
Percent
of
portfolio
Amortized
cost
Historical
cost
Fair value Unrealized
gain (loss)
Cash and Cash Equivalents 109,873.12 109,873.12 109,873.12 0.00 0.68 0.00 1Corporate Bonds 4,716,326.50 4,817,332.81 4,793,148.91 (24,183.90) 899 29.11 2.13Government Agencies 4,334,886.75 4,438,348.14 4,394,531.86 (43,816.28) 659 26.76 1.72Government Bonds 7,040,881.44 7,182,580.68 7,127,656.34 (54,924.34) 775 43.46 1.99Total 16,201,967.81 16,548,134.75 16,425,210.23 (122,924.52) 775 100.00 1.94 Cash and Cash EquivalentsCorporate BondsGovernment AgenciesGovernment Bonds Portfolio diversification (%)
Cash and Cash Equivalents 0.68Corporate Bonds 29.11Government Agencies 26.76Government Bonds 43.46 Portfolio diversification (%)
6 MATURITY DISTRIBUTION OF SECURITIES HELD
As of June 30, 2024
TOWN OF ATHERTON
Maturity Historic cost PercentUnder 90 days 581,848.12 3.5990 to 179 days 480,509.49 2.97180 days to 1 year 490,782.92 3.031 to 2 years 7,103,052.67 43.842 to 3 years 3,764,592.97 23.243 to 4 years 2,721,897.59 16.804 to 5 years 1,059,284.05 6.54Over 5 years 0.00 0.00 16,201,967.81 100.00
Maturity distribution
0.002.004.006.008.00
Historical cost (mm)
Under 90 days
90 to 179 days
180 days to 1 year
1 to 2 years
2 to 3 years
3 to 4 years
4 to 5 years
Over 5 years
7 SECURITIES HELD
As of June 30, 2024
TOWN OF ATHERTON
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Cash and Cash Equivalents
Cash and Cash Equivalents 0.000 109,873.12 109,873.12 109,873.12 0.00 0.00 0.68 109,873.12 Total Cash and Cash Equivalents 109,873.12 109,873.12 109,873.12 109,873.12 0.00 0.68 0.00Corporate Bonds02665WDS7 AMERICAN HONDA FINANCE 0.55% 12JUL2024 0.550 07/12/2024 471,975.00 499,501.04 (277.10) 1,283.33 500,000.00 499,223.94 2.91 24422EVK2 JOHN DEERE CAPITAL CORP 0.7% 15JAN2026 0.700 01/15/2026 439,170.00 470,870.88 (3,462.37) 1,604. 500,000.00 467,408.51 17 2.71 037833EB2 0.700 02/08/2026 593,749.00 617,551.82 (10,538.73) 1,794.72 01/08/2026
APPLE INC 0.7% 08FEB2026 (CALLABLE 08JAN26) 650,000.00 607,013.09 3.66 06051GFX2 BANK OF AMERICA CORP 3.5% 19APR2026 3.500 04/19/2026 623,493.00 632,552.69 (2,564.38) 4,486. 650,000.00 629,988.31 81 3.85 94988J6D4 5.450 08/07/2026 397,028.00 397,817.84 3,381.07 8,659.44 07/07/2026
WELLS FARGO BANK NA 5.45% 07AUG2026 (CALLABLE 400,000.00 401,198.91 2.4507JUL26) 437076BN1 2.125 09/15/2026 366,260.00 374,908.04 947.64 2,479.17 06/15/2026
HOME DEPOT INC 2.125% 15SEP2026 (CALLABLE 400,000.00 375,855.68 2.2615JUN26) 89236TKL8 TOYOTA MOTOR CREDIT CORP 5.45% 10NOV2027 5.450 11/10/2027 671,703.50 668,988.60 (9,424.77) 4,920. 650,000.00 659,563.83 14 4.15 46647PDA1 4.323 04/26/2028 588,900.00 590,023.78 (4,703.27) 4,611.20 04/26/2027
JPMORGAN CHASE & CO 4.323% 26APR2028 (CALLABLE 600,000.00 585,320.51 3.6326APR27) 717081ET6 3.450 03/15/2029 564,048.00 565,118.12 2,458.01 6,037.50 12/15/2028
PFIZER INC 3.45% 15MAR2029 (CALLABLE 15DEC28) 600,000.00 567,576.13 3.48 Total Corporate Bonds 4,950,000.00 4,716,326.50 4,817,332.81 4,793,148.91 (24,183.90) 29.1 35,876.48 1 8 SECURITIES HELD
As of June 30, 2024
TOWN OF ATHERTON
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Government Agencies3134GW3X2 0.625 10/27/2025 548,910.00 572,306.90 (5,731.99) 656.25 07/27/2024
FREDDIE MAC 0.625% 27OCT2025 (CALLABLE 27JUL24) 600,000.00 566,574.91 3.39 3134GXCS1 0.625 11/25/2025 547,626.00 570,871.29 (6,319.34) 364.58 11/25/2024
FREDDIE MAC 0.625% 25NOV2025 (CALLABLE 600,000.00 564,551.95 3.3825NOV24) 3134A2HG6 FREDDIE MAC 0% 11DEC2025 0.000 12/11/2025 675,172.50 707,890.95 (7,920.57) 0.00 4. 750,000.00 699,970.38 17 3130AV6J6 FEDERAL HOME LOAN BANK 4.5% 13MAR2026 4.500 03/13/2026 758,133.75 754,642.45 (9,188.08) 10,031 750,000.00 745,454.37 .25 4.683134GXCJ1 0.650 05/28/2026 451,345.00 469,317.47 (7,055.29) 288.89 11/28/2024
FREDDIE MAC 0.65% 28MAY2026 (CALLABLE 28NOV24) 500,000.00 462,262.18 2.79 3135G0Q22 FANNIE MAE 1.875% 24SEP2026 1.875 09/24/2026 606,047.00 615,218.30 (3,936.64) 3,250. 650,000.00 611,281.66 00 3.74 3133EPK79 FEDERAL FARM CREDIT BANK 4.375% 07DEC2026 4.375 12/07/2026 747,652.50 748,100.78 (3,664.37) 2,096. 750,000.00 744,436.41 35 4.61 Total Government Agencies 4,600,000.00 4,334,886.75 4,438,348.14 4,394,531.86 (43,816.28) 26.7 16,687.32 6Government Bonds912828YV6 USA TREASURY 1.5% 30NOV2024 1.500 11/30/2024 480,509.49 492,213.97 (55.76) 614.75 2.9 500,000.00 492,158.21 7 91282CGU9 USA TREASURY 3.875% 31MAR2025 3.875 03/31/2025 490,782.92 494,989.13 103.65 4,817.28 3. 500,000.00 495,092.78 03912828XZ8 USA TREASURY 2.75% 30JUN2025 2.750 06/30/2025 337,409.38 343,839.71 (1,846.87) 4,812. 350,000.00 341,992.84 50 2.08 91282CAJ0 USA TREASURY 0.25% 31AUG2025 0.250 08/31/2025 326,062.89 333,672.29 (2,525.81) 290.08 350,000.00 331,146.48 2.01 9 SECURITIES HELD
As of June 30, 2024
TOWN OF ATHERTON
Amortized cost Fair value Unrealized
gain
(loss)
Coupon Maturity/
Call date
Cusip Historical cost Total
accrued
interest
%
Portcost
Par value or
shares
Description
Government Bonds91282CFK2 USA TREASURY 3.5% 15SEP2025 3.500 09/15/2025 738,899.00 745,151.54 (8,657.40) 7,632. 750,000.00 736,494.14 47 4.56 91282CBC4 USA TREASURY 0.375% 31DEC2025 0.375 12/31/2025 1,063,082.15 1,135,255.90 (13,021.53) 2 1,200,000.00 1,122,234.37 ,250.00 6.5691282CDK4 USA TREASURY 1.25% 30NOV2026 1.250 11/30/2026 453,906.25 468,002.53 (6,225.18) 512.30 500,000.00 461,777.35 2.8091282CEC1 USA TREASURY 1.875% 28FEB2027 1.875 02/28/2027 540,646.09 545,657.98 (4,581.42) 3,605. 580,000.00 541,076.56 30 3.34 91282CEN7 USA TREASURY 2.75% 30APR2027 2.750 04/30/2027 653,053.13 662,105.34 4,808.73 3,190.90 700,000.00 666,914.07 4.0391282CEW7 USA TREASURY 3.25% 30JUN2027 3.250 06/30/2027 488,243.86 490,051.80 (7,610.39) 8,125. 500,000.00 482,441.41 00 3.01 91282CFH9 USA TREASURY 3.125% 31AUG2027 3.125 08/31/2027 482,071.99 484,080.81 (4,393.31) 5,180. 500,000.00 479,687.50 03 2.98 91282CGH8 USA TREASURY 3.5% 31JAN2028 3.500 01/31/2028 490,978.24 491,992.88 (7,754.60) 7,259. 500,000.00 484,238.28 62 3.03 91282CHK0 USA TREASURY 4% 30JUN2028 4.000 06/30/2028 495,236.05 495,566.80 (3,164.45) 10,000 500,000.00 492,402.35 .00 3.06 Total Government Bonds 7,430,000.00 7,040,881.44 7,182,580.68 7,127,656.34 (54,924.34) 43.4 58,290.23 6Grand total 17,089,873.12 16,201,967.81 16,548,134.75 (122,924.52) 16,425,210.23 110,854.03 100.00 10 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of June 30, 2024
TOWN OF ATHERTON
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
United States Treasury Note/Bond912828YV6 USA TREASURY 1.5% 1.500 11/30/2024 AA+ Aaa 500,000.00 480,509.49 2.97 492,158.21 3.00 0.4291282CGU9 USA TREASURY 3.875% 3.875 03/31/2025 AA+ Aaa 500,000.00 490,782.92 3.03 495,092.78 3.01 0.73912828XZ8 USA TREASURY 2.75% 2.750 06/30/2025 AA+ Aaa 350,000.00 337,409.38 2.08 341,992.84 2.08 0.9691282CAJ0 USA TREASURY 0.25% 0.250 08/31/2025 AA+ Aaa 350,000.00 326,062.89 2.01 331,146.48 2.02 1.1491282CFK2 USA TREASURY 3.5% 3.500 09/15/2025 AA+ Aaa 750,000.00 738,899.00 4.56 736,494.14 4.48 1.1591282CBC4 USA TREASURY 0.375% 0.375 12/31/2025 AA+ Aaa 1,200,000.00 1,063,082.15 6.56 1,122,234.37 6.83 1.4691282CDK4 USA TREASURY 1.25% 1.250 11/30/2026 AA+ Aaa 500,000.00 453,906.25 2.80 461,777.35 2.81 2.3291282CEC1 USA TREASURY 1.875% 1.875 02/28/2027 AA+ Aaa 580,000.00 540,646.09 3.34 541,076.56 3.29 2.5291282CEN7 USA TREASURY 2.75% 2.750 04/30/2027 AA+ Aaa 700,000.00 653,053.13 4.03 666,914.07 4.06 2.6691282CEW7 USA TREASURY 3.25% 3.250 06/30/2027 AA+ Aaa 500,000.00 488,243.86 3.01 482,441.41 2.94 2.8091282CFH9 USA TREASURY 3.125% 3.125 08/31/2027 AA+ Aaa 500,000.00 482,071.99 2.98 479,687.50 2.92 2.9391282CGH8 USA TREASURY 3.5% 3.500 01/31/2028 AA+ Aaa 500,000.00 490,978.24 3.03 484,238.28 2.95 3.2691282CHK0 USA TREASURY 4% 4.000 06/30/2028 AA+ Aaa 500,000.00 495,236.05 3.06 492,402.35 3.00 3.63Issuer total 7,430,000.00 7,040,881.44 43.46 7,127,656.34 43.39 1.99Federal Home Loan Mortgage Corp3134GW3X2 FREDDIE MAC 0.625% 0.625 10/27/2025 07/27/2024 AA+ Aaa 600,000.00 548,910.00 3.39 566,574.91 3.45 1.283134GXCS1 FREDDIE MAC 0.625% 0.625 11/25/2025 11/25/2024 AA+ Aaa 600,000.00 547,626.00 3.38 564,551.95 3.44 1.363134A2HG6 FREDDIE MAC 0% 0.000 12/11/2025 AA+ Aaa 750,000.00 675,172.50 4.17 699,970.38 4.26 1.413134GXCJ1 FREDDIE MAC 0.65% 0.650 05/28/2026 11/28/2024 AA+ Aaa 500,000.00 451,345.00 2.79 462,262.18 2.81 1.85Issuer total 2,450,000.00 2,223,053.50 13.72 2,293,359.42 13.96 1.45Federal Home Loan Banks3130AV6J6 FEDERAL HOME LOAN 4.500 03/13/2026 AA+ Aaa 750,000.00 758,133.75 4.68 745,454.37 4.54 1.59 Issuer total 750,000.00 758,133.75 4.68 745,454.37 4.54 1.59 11 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of June 30, 2024
TOWN OF ATHERTON
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
Federal Farm Credit Banks Funding Corp3133EPK79 FEDERAL FARM CREDIT 4.375 12/07/2026 AA+ Aaa 750,000.00 747,652.50 4.61 744,436.41 4.53 2.28 Issuer total 750,000.00 747,652.50 4.61 744,436.41 4.53 2.28 Toyota Motor Credit Corp89236TKL8 TOYOTA MOTOR CREDIT 5.450 11/10/2027 A+ A1 650,000.00 671,703.50 4.15 659,563.83 4.02 3.01 Issuer total 650,000.00 671,703.50 4.15 659,563.83 4.02 3.01 Bank of America Corp06051GFX2 BANK OF AMERICA CORP 3.500 04/19/2026 A- A1 650,000.00 623,493.00 3.85 629,988.31 3.84 1.70 Issuer total 650,000.00 623,493.00 3.85 629,988.31 3.84 1.70 Federal National Mortgage Association3135G0Q22 FANNIE MAE 1.875% 1.875 09/24/2026 AA+ Aaa 650,000.00 606,047.00 3.74 611,281.66 3.72 2.13 Issuer total 650,000.00 606,047.00 3.74 611,281.66 3.72 2.13 Apple Inc037833EB2 APPLE INC 0.7% 0.700 02/08/2026 01/08/2026 AA+ Aaa 650,000.00 593,749.00 3.66 607,013.09 3.70 1.55 Issuer total 650,000.00 593,749.00 3.66 607,013.09 3.70 1.55 JPMorgan Chase & Co46647PDA1 JPMORGAN CHASE & CO 4.323 04/26/2028 04/26/2027 A- A1 600,000.00 588,900.00 3.63 585,320.51 3.56 2.59 Issuer total 600,000.00 588,900.00 3.63 585,320.51 3.56 2.59 Pfizer Inc717081ET6 PFIZER INC 3.45% 3.450 03/15/2029 12/15/2028 A A2 600,000.00 564,048.00 3.48 567,576.13 3.46 4.14 Issuer total 600,000.00 564,048.00 3.48 567,576.13 3.46 4.14 12 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of June 30, 2024
TOWN OF ATHERTON
Cusip S&P
rating
Moody
rating
Historical
cost
% Portfolio
hist cost
Market
value
% Portfolio
mkt value
Effective
dur (yrs)
Description Coupon Maturity
date
Call date Par value or
shares
American Honda Finance Corp02665WDS7 AMERICAN HONDA 0.550 07/12/2024 A- A3 500,000.00 471,975.00 2.91 499,223.94 3.04 0.04 Issuer total 500,000.00 471,975.00 2.91 499,223.94 3.04 0.04 John Deere Capital Corp24422EVK2 JOHN DEERE CAPITAL 0.700 01/15/2026 A A1 500,000.00 439,170.00 2.71 467,408.51 2.85 1.49 Issuer total 500,000.00 439,170.00 2.71 467,408.51 2.85 1.49 Wells Fargo Bank NA94988J6D4 WELLS FARGO BANK NA 5.450 08/07/2026 07/07/2026 A+ Aa2 400,000.00 397,028.00 2.45 401,198.91 2.44 1.87 Issuer total 400,000.00 397,028.00 2.45 401,198.91 2.44 1.87 Home Depot Inc/The437076BN1 HOME DEPOT INC 2.125% 2.125 09/15/2026 06/15/2026 A A2 400,000.00 366,260.00 2.26 375,855.68 2.29 2.07 Issuer total 400,000.00 366,260.00 2.26 375,855.68 2.29 2.07 Cash and Cash Equivalents
CASH 0.000 109,873.12 109,873.12 0.00 109,873.12 0.67 0.00 Issuer total 109,873.12 109,873.12 0.00 109,873.12 0.67 0.00 Grand total 17,089,873.12 16,201,967.81 100.00 16,425,210.23 100.00 1.94 13 DETAIL OF RETURN AND INTEREST RECEIVED
For the period June 1, 2024 - June 30, 2024
TOWN OF ATHERTON
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Cash
Cash and Cash Equivalents 0.00 0.00 0.00 436.98 436.98
Total Cash 0.00 0.00 0.00 436.98 436.98Corporate Bonds
02665WDS7 AMERICAN HONDA FINANCE 0.55% 12JUL2024 1,247.40 0.00 1,942.27 221.52 0.00 037833EB2 APPLE INC 0.7% 08FEB2026 (CALLABLE 08JAN26) 1,684.16 0.00 2,112.70 366.53 0.00 06051GFX2 BANK OF AMERICA CORP 3.5% 19APR2026 806.50 0.00 129.78 1,832.64 0.00 437076BN1 HOME DEPOT INC 2.125% 15SEP2026 (CALLABLE 15JUN26) 946.86 0.00 771.63 684.73 0.00 24422EVK2 JOHN DEERE CAPITAL CORP 0.7% 15JAN2026 1,574.55 0.00 1,286.20 281.95 0.00 46647PDA1 JPMORGAN CHASE & CO 4.323% 26APR2028 (CALLABLE 26APR27) 217.51 0.00 1,707.72 2,089.45 0.00 717081ET6 PFIZER INC 3.45% 15MAR2029 (CALLABLE 15DEC28) 617.38 0.00 3,173.72 1,667.50 0.00 89236TKL8 TOYOTA MOTOR CREDIT CORP 5.45% 10NOV2027 (470.79) 0.00 862.66 2,853.68 0.00 94988J6D4 WELLS FARGO BANK NA 5.45% 07AUG2026 (CALLABLE 07JUL26) 86.48 0.00 (218.05) 1,756.11 0.00 Total Corporate Bonds 6,710.05 0.00 11,768.63 11,754.11 0.00Government Agencies 3135G0Q22 FANNIE MAE 1.875% 24SEP2026 1,297.83 0.00 2,884.41 981.77 0.00 3133EPK79 FEDERAL FARM CREDIT BANK 4.375% 07DEC2026 64.97 0.00 1,723.45 2,643.22 16,406.25 3130AV6J6 FEDERAL HOME LOAN BANK 4.5% 13MAR2026 (227.20) 0.00 937.10 2,718.75 0.00 3134A2HG6 FREDDIE MAC 0% 11DEC2025 2,332.87 0.00 4,120.91 0.00 0.00 3134GXCS1 FREDDIE MAC 0.625% 25NOV2025 (CALLABLE 25NOV24) 1,730.42 0.00 1,853.22 302.08 0.00 3134GW3X2 FREDDIE MAC 0.625% 27OCT2025 (CALLABLE 27JUL24) 1,741.71 0.00 1,984.06 302.08 0.00 14 DETAIL OF RETURN AND INTEREST RECEIVED
For the period June 1, 2024 - June 30, 2024
TOWN OF ATHERTON
Description Accretion Interest earned
(amortization)
Realized gain
(loss)
Change in fair
value
Cusip Interest received
Government Agencies
3134GXCJ1 FREDDIE MAC 0.65% 28MAY2026 (CALLABLE 28NOV24) 1,337.90 0.00 2,545.99 261.81 0.00 Total Government Agencies 8,278.50 0.00 16,049.14 16,406.25 7,209.71Government Bonds 91282CAJ0 USA TREASURY 0.25% 31AUG2025 1,147.15 0.00 1,408.20 71.33 0.00 91282CBC4 USA TREASURY 0.375% 31DEC2025 3,537.93 0.00 5,625.00 370.88 0.00 91282CDK4 USA TREASURY 1.25% 30NOV2026 1,087.12 0.00 2,558.60 512.30 0.00 912828YV6 USA TREASURY 1.5% 30NOV2024 1,526.67 0.00 1,518.56 614.75 0.00 91282CEC1 USA TREASURY 1.875% 28FEB2027 1,058.85 0.00 2,967.96 886.55 0.00 91282CEN7 USA TREASURY 2.75% 30APR2027 1,099.46 0.00 3,363.29 1,569.30 0.00 912828XZ8 USA TREASURY 2.75% 30JUN2025 506.33 0.00 710.94 793.27 0.00 91282CFH9 USA TREASURY 3.125% 31AUG2027 412.77 0.00 2,382.81 1,273.78 0.00 91282CEW7 USA TREASURY 3.25% 30JUN2027 272.56 0.00 2,324.22 1,339.29 0.00 91282CFK2 USA TREASURY 3.5% 15SEP2025 329.08 0.00 1,289.06 2,139.94 0.00 91282CGH8 USA TREASURY 3.5% 31JAN2028 183.37 0.00 2,636.72 1,442.31 0.00 91282CGU9 USA TREASURY 3.875% 31MAR2025 548.64 0.00 522.47 1,588.11 0.00 91282CHK0 USA TREASURY 4% 30JUN2028 91.04 0.00 2,832.04 1,648.35 0.00 Total Government Bonds 11,800.97 0.00 30,139.87 14,250.16 0.00Grand total 26,789.52 0.00 57,957.64 16,843.23 33,650.96 15 TRANSACTION REPORT
For the period June 1, 2024 - June 30, 2024
TOWN OF ATHERTON
Maturity Par value or
shares
Trade date Cusip Sec type Description Transaction Principal Interest Transaction totalSettle date Realized
gain(loss)
06/07/2024 16,406.2506/07/2024
3133EPK79 Government Agencies FEDERAL FARM CREDIT BAN Income K 12/07/2026 750,000.00 0.00 16,406.25 0.00 06/30/2024 Income Cash and Cash Equivalents Cash 0.00 0.00 0.00 436.98 436.98 16 ADDITIONAL INFORMATION
As of June 30, 2024
TOWN OF ATHERTON
The performance results shown, whether net or gross of investment management fees, reflect the reinvestment of dividends and/or income and other earnings. Any gross of fees performance does not include fees and charges and these can have a material detrimental effect on the performance of an investment. The performance shown is for the stated time period(s) only. Any target performance aims are not a guarantee, may not be achieved and a capital loss may occur. Funds which have a higher performance aim generally take more risk to achieve this and so have a greater potential for the returns to be significantly different than expected. Investments are subject to risks, including loss of principal. There can be no guarantee that any investment strategy will meet the liability funding needs of a particular client.
Performance information for certain accounts may reflect performance achieved while the account was managed at a prior firm. In addition, the performance and customized benchmark information for these periods are based on Information from 3rd parties that Insight believes to be accurate, but Insight has not independently verified such information and no representation is made regarding its accuracy or completeness.The quoted benchmarks do not reflect deductions for fees, expenses or taxes. These benchmarks are unmanaged and cannot be purchased directly by investors. Benchmark performance is shown for illustrative purposes only and does not predict or depict the performance of any investment. There may be material factors relevant to any such comparison such as differences in volatility, and regulatory and legal restrictions between the indices shown and the strategy.Any currency conversions performed for this presentation, use FX rates as per WM Reuters 4pm spot rates, unless noted otherwise.Funds and portfolios with an ESG objective follow a sustainable or ESG related investment approach, which may cause them to perform differently than funds that are not required to integrate sustainable investment criteriawhen selecting securities. Funds and portfolios with no ESG objective are not required to integrate sustainable investment criteria when selecting securities so any ESG approach shown is only indicative and there is noguarantee that the specific approach will be applied across the whole portfolio. . This document must not be used for the purpose of an offer or solicitation in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or otherwise not permitted. This document is intended only for the parties to whom it was delivered or its authorised agentsand should not be copied or passed to any other person. Please contact the Client Services Team if there has been any change in your financial circumstances or risk tolerance since the previous valuation that could affect theinvestment objective of your portfolio. Insight obtains market data and prices from an independent pricing source for all of our currency positions on a daily basis. For trading activity the Clearing broker will be reflected. In certain cases the Clearing broker will differ from the Executing broker.Some information contained in this client report comes from external sources which Insight believes to be reliable. A list of sources is available on request. All statistics represent month end figures unless otherwise noted. Itshould not be assumed that any of the security transactions or holdings referenced herein have been or will prove to be profitable or that future investment decisions will be profitable or will equal or exceed the past investment performance of the securities listed. Tax treatment depends on the individual circumstances of each investor and may be subject to change in the future. Insight does not provide tax or legal advice to its clients and all investors are strongly urged to seek professional advice regarding any potential strategy or investment. Material in this publication is for general information only and is not advice, investment advice, or the recommendation of any purchase or sale of any security.Insight Investment is the corporate brand for certain companies operated by Insight Investment Management Limited (IIML). Insight includes, among others, Insight Investment Management (Global) Limited (IIMG), Insight Investment International Limited (IIIL) and Insight North America LLC (INA), each of which provides asset management services. This group of companies may be referred to as 'Insight' or 'Insight Investment'.
Please compare the information provided in this statement to the information provided in the statement received from your Custodian. This report is not intended to replace your custodial statement which is your official record for all pertinent account information. Please notify us promptly if you do not receive from your custodian on at least a quarterly basis account statements that contain the amount of funds and each security in theaccount at the end of the period and all transactions in the account during that period.
Investment advisory services in North America are provided through two different investment advisers registered with the Securities and Exchange Commission (SEC), using the brand Insight Investment: Insight North America LLC (INA) and Insight Investment International Limited (IIIL). The North American investment advisers are associated with other global investment managers that also (individually and collectively) use the corporate brand Insight Investment and may be referred to as 'Insight' or 'Insight Investment'. INA is registered with the CFTC as a Commodity Trading Advisor and a Commodity Pool Operator and are members of the NFA.Information about the indices shown here is provided to allow for comparison of the performance of the strategy to that of certain well-known and widely recognized indices. There is no representation that such index is anappropriate benchmark for such comparison. You cannot invest directly in an index and the indices represented do not take into account trading commissions and/or other brokerage or custodial costs. The volatility of theindices may be materially different from that of the strategy. In addition, the strategy’s holdings may differ substantially from the securities that comprise the indices shown.
The ICE BofA 3 Month US T-Bill index is an unmanaged market index of U.S. Treasury securities maturing in 90 days that assumes reinvestment of all income. The ICE BofA 6 Month US T-Bill index measures the performance of Treasury bills with time to maturity of less than 6 months. 17 ADDITIONAL INFORMATION
As of June 30, 2024
TOWN OF ATHERTON
The ICE BofA 1-Year US Treasury Index is a one-security index comprised of the most recently issued 1-year US Treasury note. The index is rebalanced monthly. In order to qualify for inclusion, a 1-year note must be auctioned on or before the third business day before the last business day of the month.The ICE BofA 3-Year US Treasury Index is a one-security index comprised of the most recently issued 3-year US Treasury note. The index is rebalanced monthly. In order to qualify for inclusion, a 3-year note must be auctionedon or before the third business day before the last business day of the month.The ICE BofA 5-Year US Treasury Index is a one-security index comprised of the most recently issued 5-year US Treasury note. The index is rebalanced monthly. In order to qualify for inclusion, a 5-year note must be auctionedon or before the third business day before the last business day of the month.The ICE BofA 1-3 US Year Treasury Index is an unmanaged index that tracks the performance of the direct sovereign debt of the U.S. Government having a maturity of at least one year and less than three years.
The ICE BofA 1-5 US Year Treasury Index is an unmanaged index that tracks the performance of the direct sovereign debt of the U.S. Government having a maturity of at least one year and less than five years. © 2024 Insight Investment. All rights reserved.
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