% of
Par Value Market Value Book Value Portfolio
Cash In Bank (Schedule A) 2,003,958 2,003,958 2,003,958 5.9% LAIF Statement 15,851,200 15,883,871 15,851,200 46.5%
Investments (Schedule B) 17,080,000 16,805,376 16,219,676 47.6% Total Cash and Investments 34,935,158 34,693,204 34,074,833 100% 9/30/2024
Robert Barron, Finance Director Date
Town of Atherton
Quarterly Treasurer's Report
Portfolio Summary
September 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 1,868,519
Wells Fargo Wells Fargo Trust MMF-Cash 135,439
Total 2,003,958
Town of Atherton
Quarterly Treasurer's Report
Portfolio Details - Cash In Bank
September 30, 2024
Schedule B
Town of Atherton
Treasurer's Report Schedule B
Portfolio Details - Investments
September 30, 2024
See next pages Insight Report
Town of Atherton
Quarterly Treasurer's Report
Cash & Investments Balance By Fund
September 30, 2024
Fund No. Fund Name
December
Balance
101 General Fund 15,142,133
105 Tennis Fund 140,217
610 Equipment Replacement Fund 1,081,153
614 Worker's Compensation 1,874,351
615 General Liability 224,401
616 Employee Benefits 1,901,990
Total Non-Restricted 20,364,245
201 Special Tax Fund 478,353
202 County Measure A Fund 1,752,404
203 Gas Tax Fund 519,603
204 Measure M 151,468
205 Measure W 816,805
209 SLES/COPS Grant 188
213 Library Fund 503,800
221 Refuse Rate and Stabilization 540,881
401 GF Projects 7,124,412
402 Storm Drainage 33,290
403 Atherton Channel Drainage District 1,163,547
406 Facilities Construction 591,855
730 H-P Park Improvement 6,752
740 Tree Committee 27,229
Total Restricted 13,710,588
Total Cash & Investments 34,074,833
Date Begin $$$ Contribution Earnings Expenses Distribution Ending $$$ Date 9/1/2024 15,851,200 - 15,851,200 9/30/2024
Town of Atherton
Quarterly Treasurer's Report
Local Agency Investment Fund Summary (LAIF)
September 30, 2024
Date Begin $$$ Contribution Earnings Expenses Distribution Ending $$$ Date 9/1/2024 8,932,037 157,296 (4,057) (35,024) 9,050,252 9/30/2024 (*) Town of Atherton
Quarterly Treasurer's Report
PARS Trust Account Summary
September 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 ATHERTONSeptember 2024 Treasurer's 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 September 30, 2024
TOWN OF ATHERTON
Chart 1: The FOMC cut rates by 50bp and projected a further 50bp to follow in 2024Source: Federal Reserve, Bloomberg, Insight, September 30, 2024Chart 2: The Fed shifts its focus to supporting the labor marketSource: Bureau of Labor Statistics, Bloomberg, September 30, 2024 Economic Indicators and Monetary PolicyThe FOMC cut the Fed funds rate by 50bp, taking it to a range of 4.75% to 5%. The central bankmade several changes to its official statement to reflect a shift in focus from inflation to thelabor market. The central bank noted progress on inflationand declared the committee has “gained greater confidence that inflation is moving sustainably toward 2%”. On the labormarket, it changed its characterization of job gains as having moderatedto slowedand added that the committee is strongly committed to supporting maximum employment. The FOMC projected another 50bp of further rate cuts into the end of the year and 100bp to followin 2025 (Chart 1).The FOMC left most of its longer-term estimates unchanged, but slightly adjusted some of itsnear-term projections to reflect slower growth and inflation as well as higher unemployment.The Fed trimmed its year-end PCE inflation outlook from 2.6% to 2.3% and its core inflationprojection from 2.8% to 2.6%. It raised its near-team unemployment rate projection from 4% to4.4% for end-2024.Including food and energy, CPI fell from 2.9% to 2.5% and PCE fell from 2.5% to 2.2%. Bothreached the closest levels to the Fed’s 2% target since early 2021. Core CPI remained at 3.2%and Core PCE rose slightly from 2.6% to 2.7%.The US economy added 142,000 jobs in August, below the 165,000 expected, and up from adownwardly revised 89,000 in July. Besides the pandemic, it was the weakest three months ofprivate sector hiring since 2012. The unemployment rate fell slightly from 4.3% to 4.2%. Wagegrowth rose from 3.6% to 3.8%.The third release of Q2 GDP was unchanged at 3% but with marginally softer domestic demand.Annual revisions to the five years from Q1-2019 to Q1-2023 showed notably higher postpandemic growth in 2021 (up from 5.8% to 6.1%), 2022 (up from 1.9% to 2.5%), and 2023 (upfrom 2.5% to 2.9%).Interest Rate Summary Yields generally fell during the month and the 2-year to 10-year part of the curve dis-invertedfor the first time since July 2022. At the end of September, the 3-month US Treasury bill yielded4.62%, the 6-month US Treasury bill yielded 4.40%, the 2-year US Treasury note yielded 3.64%,the 5-year US Treasury note yielded 3.56% and the 10-year US Treasury note yielded 3.78%. 3 ACTIVITY AND PERFORMANCE SUMMARY
For the period September 1, 2024 - September 30, 2024
TOWN OF ATHERTON
Amortized Cost Basis Activity Summary
Opening balance 16,651,380.74
Income received 74,311.83
Total receipts 74,311.83Total 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 (1,758.47)Total OID/MKT accretion income 27,335.59 Return of capital 0.00
Closing balance 16,751,269.69Ending fair value 16,940,814.67 Unrealized gain (loss) 189,544.98
Comparative Rates of Return (%)
* Twelve
month trailing
* Six
month trailing
* One month
Fed Funds 5.31 2.60 0.41Overnight Repo 5.38 2.65 0.42Merrill Lynch 3m US Treas Bill 5.23 2.55 0.38Merrill Lynch 6m US Treas Bill 5.10 2.47 0.36ML 1 Year US Treasury Note 4.92 2.35 0.33ML 2 Year US Treasury Note 4.53 2.18 0.29ML 5 Year US Treasury Note 4.19 2.03 0.28 * rates reflected are cumulative
Summary of Amortized Cost Basis Return for the Period
Total portfolio
Interest earned 35,597.79Accretion (amortization) 25,577.12Realized gain (loss) on sales 0.00Total income on portfolio 61,174.91Average daily amortized cost 16,702,960.29Period return (%)Weighted average final maturity in days 714YTD return (%) Detail of Amortized Cost Basis Return
Interest
earned
Realized
gain (loss)
Accretion
(amortization)
Total
income
Cash and Cash Equivalents 243.08 0.00 243.08 0.00Corporate Bonds 13,900.92 5,474.97 19,375.89 0.00Government Agencies 7,209.73 8,301.23 15,510.96 0.00Government Bonds 14,244.06 11,800.92 26,044.98 0.00Total 35,597.79 25,577.12 0.00 61,174.91
0.363.30
4 ACTIVITY AND PERFORMANCE SUMMARY
For the period September 1, 2024 - September 30, 2024
TOWN OF ATHERTON
Fair Value Basis Activity Summary
Opening balance 16,763,380.27
Income received 74,311.83
Total receipts 74,311.83Total 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 103,122.57 Ending fair value 16,940,814.67
Comparative Rates of Return (%)
* Twelve
month trailing
* Six
month trailing
* One month
Fed Funds 5.31 2.60 0.41Overnight Repo 5.38 2.65 0.42ICE Bofa 3 Months US T-BILL 5.46 2.71 0.43ICE Bofa 6m US Treas Bill 5.73 2.90 0.52ICE Bofa 1 Yr US Treasury Note 5.87 3.16 0.66ICE BofA US Treasury 1-3 6.74 3.84 0.80ICE BofA US Treasury 1-5 7.44 4.23 0.88 * rates reflected are cumulative
Detail of Fair Value Basis Return
Interest
earned
Change in
fair value
Total
income
Cash and Cash Equivalents 243.08 0.00 243.08Corporate Bonds 13,900.92 36,340.42 50,241.34Government Agencies 7,209.73 24,567.72 31,777.45Government Bonds 14,244.06 42,214.43 56,458.49Total 35,597.79 103,122.57 138,720.36 Summary of Fair Value Basis Return for the Period
Total portfolio
Interest earned 35,597.79Total income on portfolio 138,720.36Average daily total value * 17,008,368.03Period return (%) 0.82Weighted average final maturity in days 714Change in fair value 103,122.57YTD return (%) 4.36* Total value equals market value and accrued interest 5 RECAP OF SECURITIES HELD
As of September 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 135,438.62 135,438.62 135,438.62 0.00 0.83 0.00 1Corporate Bonds 4,843,907.50 4,933,809.02 5,021,973.40 88,164.38 917 29.62 2.19Government Agencies 4,334,886.75 4,463,251.83 4,492,266.71 29,014.88 565 26.50 1.49Government Bonds 7,040,881.44 7,218,770.22 7,291,135.94 72,365.72 681 43.05 1.77Total 16,355,114.31 16,751,269.69 16,940,814.67 189,544.98 714 100.00 1.80 Cash and Cash EquivalentsCorporate BondsGovernment AgenciesGovernment Bonds Portfolio diversification (%)
Cash and Cash Equivalents 0.83Corporate Bonds 29.62Government Agencies 26.50Government Bonds 43.05 Portfolio diversification (%)
6 MATURITY DISTRIBUTION OF SECURITIES HELD
As of September 30, 2024
TOWN OF ATHERTON
Maturity Historic cost PercentUnder 90 days 615,948.11 3.7790 to 179 days 0.00 0.00180 days to 1 year 1,893,154.19 11.581 to 2 years 7,070,016.40 43.232 to 3 years 4,554,029.82 27.853 to 4 years 1,657,917.79 10.144 to 5 years 564,048.00 3.45Over 5 years 0.00 0.00 16,355,114.31 100.00
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 September 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 0.000 135,438.62 135,438.62 135,438.62 0.00 0.00 0.83 135,438.62 Total Cash and Cash Equivalents 135,438.62 135,438.62 135,438.62 135,438.62 0.00 0.83 0.00Corporate Bonds24422EVK2 JOHN DEERE CAPITAL CORP 0.7% 15JAN2026 0.700 01/15/2026 439,170.00 475,594.52 3,679.79 729.17 2. 500,000.00 479,274.31 69 037833EB2 0.700 02/08/2026 593,749.00 622,604.30 524.49 657.22 01/08/2026
APPLE INC 0.7% 08FEB2026 (CALLABLE 08JAN26) 650,000.00 623,128.79 3.63 06051GFX2 BANK OF AMERICA CORP 3.5% 19APR2026 3.500 04/19/2026 623,493.00 634,972.20 8,668.33 10,174.3 650,000.00 643,640.53 1 3.8194988J6D4 5.450 08/07/2026 397,028.00 398,077.28 11,474.00 3,209.44 07/07/2026
WELLS FARGO BANK NA 5.45% 07AUG2026 (CALLABLE 400,000.00 409,551.28 2.4307JUL26) 437076BN1 2.125 09/15/2026 366,260.00 377,748.64 8,941.56 354.17 06/15/2026
HOME DEPOT INC 2.125% 15SEP2026 (CALLABLE 400,000.00 386,690.20 2.2415JUN26) 02665WFK2 AMERICAN HONDA FINANCE 4.9% 09JUL2027 4.900 07/09/2027 599,556.00 599,589.30 13,585.81 6,533.3 600,000.00 613,175.11 3 3.6789236TKL8 TOYOTA MOTOR CREDIT CORP 5.45% 10NOV2027 5.450 11/10/2027 671,703.50 667,576.23 9,812.37 13,776.3 650,000.00 677,388.60 9 4.1146647PDA1 4.323 04/26/2028 588,900.00 590,676.29 10,521.67 11,095.70 04/26/2027
JPMORGAN CHASE & CO 4.323% 26APR2028 (CALLABLE 600,000.00 601,197.96 3.6026APR27) 717081ET6 3.450 03/15/2029 564,048.00 566,970.26 20,956.36 862.50 12/15/2028
PFIZER INC 3.45% 15MAR2029 (CALLABLE 15DEC28) 600,000.00 587,926.62 3.45 Total Corporate Bonds 5,050,000.00 4,843,907.50 4,933,809.02 5,021,973.40 88,164.38 29.62 47,392.23 8 SECURITIES HELD
As of September 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 548,910.00 577,532.01 2,848.39 1,593.75 10/27/2024
FREDDIE MAC 0.625% 27OCT2025 (CALLABLE 27OCT24) 600,000.00 580,380.40 3.36 3134GXCS1 0.625 11/25/2025 547,626.00 576,062.54 455.71 1,302.08 11/25/2024
FREDDIE MAC 0.625% 25NOV2025 (CALLABLE 600,000.00 576,518.25 3.3525NOV24) 3134A2HG6 FREDDIE MAC 0% 11DEC2025 0.000 12/11/2025 675,172.50 714,957.81 477.95 0.00 4.13 750,000.00 715,435.763130AV6J6 FEDERAL HOME LOAN BANK 4.5% 13MAR2026 4.500 03/13/2026 758,133.75 753,960.85 3,334.53 1,593.75 750,000.00 757,295.38 4.643134GXCJ1 0.650 05/28/2026 451,345.00 473,331.17 1,544.13 1,101.39 11/28/2024
FREDDIE MAC 0.65% 28MAY2026 (CALLABLE 28NOV24) 500,000.00 474,875.30 2.76 3135G0Q22 FANNIE MAE 1.875% 24SEP2026 1.875 09/24/2026 606,047.00 619,111.77 8,066.00 203.13 3. 650,000.00 627,177.77 713133EPK79 FEDERAL FARM CREDIT BANK 4.375% 07DEC2026 4.375 12/07/2026 747,652.50 748,295.68 12,288.17 10,299. 750,000.00 760,583.85 48 4.57 Total Government Agencies 4,600,000.00 4,334,886.75 4,463,251.83 4,492,266.71 29,014.88 26.50 16,093.58Government Bonds912828YV6 USA TREASURY 1.5% 30NOV2024 1.500 11/30/2024 480,509.49 496,895.77 394.27 2,500.00 2. 500,000.00 497,290.04 94 91282CGU9 USA TREASURY 3.875% 31MAR2025 3.875 03/31/2025 490,782.92 496,671.61 2,113.55 0.00 3.00 500,000.00 498,785.16912828XZ8 USA TREASURY 2.75% 30JUN2025 2.750 06/30/2025 337,409.38 345,392.44 1,237.44 2,406.25 350,000.00 346,629.88 2.0691282CAJ0 USA TREASURY 0.25% 31AUG2025 0.250 08/31/2025 326,062.89 337,190.20 953.55 72.51 1.99 350,000.00 338,143.75 9 SECURITIES HELD
As of September 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 738,899.00 746,160.72 423.26 1,087.71 4. 750,000.00 746,583.98 52 91282CBC4 USA TREASURY 0.375% 31DEC2025 0.375 12/31/2025 1,063,082.15 1,146,105.55 3,597.58 1,12 1,200,000.00 1,149,703.13 5.00 6.5091282CDK4 USA TREASURY 1.25% 30NOV2026 1.250 11/30/2026 453,906.25 471,336.36 4,132.39 2,083.33 500,000.00 475,468.75 2.7891282CEC1 USA TREASURY 1.875% 28FEB2027 1.875 02/28/2027 540,646.09 548,905.12 8,098.78 901.24 3. 580,000.00 557,003.90 31 91282CEN7 USA TREASURY 2.75% 30APR2027 2.750 04/30/2027 653,053.13 665,477.01 20,112.83 8,003.4 700,000.00 685,589.84 0 3.9991282CEW7 USA TREASURY 3.25% 30JUN2027 3.250 06/30/2027 488,243.86 490,887.63 4,893.62 4,062.50 500,000.00 495,781.25 2.9991282CFH9 USA TREASURY 3.125% 31AUG2027 3.125 08/31/2027 482,071.99 485,346.64 8,461.96 1,294.89 500,000.00 493,808.60 2.9591282CGH8 USA TREASURY 3.5% 31JAN2028 3.500 01/31/2028 490,978.24 492,555.21 6,311.98 2,900.82 500,000.00 498,867.19 3.0091282CHK0 USA TREASURY 4% 30JUN2028 4.000 06/30/2028 495,236.05 495,845.96 11,634.51 5,000.0 500,000.00 507,480.47 0 3.03 Total Government Bonds 7,430,000.00 7,040,881.44 7,218,770.22 7,291,135.94 72,365.72 43.05 31,437.65Grand total 17,215,438.62 16,355,114.31 16,751,269.69 189,544.98 16,940,814.67 94,923.46 100.00 10 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of September 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 2.94 497,290.04 2.94 0.1791282CGU9 USA TREASURY 3.875% 3.875 03/31/2025 AA+ Aaa 500,000.00 490,782.92 3.00 498,785.16 2.94 0.49912828XZ8 USA TREASURY 2.75% 2.750 06/30/2025 AA+ Aaa 350,000.00 337,409.38 2.06 346,629.88 2.05 0.7391282CAJ0 USA TREASURY 0.25% 0.250 08/31/2025 AA+ Aaa 350,000.00 326,062.89 1.99 338,143.75 2.00 0.9091282CFK2 USA TREASURY 3.5% 3.500 09/15/2025 AA+ Aaa 750,000.00 738,899.00 4.52 746,583.98 4.41 0.9391282CBC4 USA TREASURY 0.375% 0.375 12/31/2025 AA+ Aaa 1,200,000.00 1,063,082.15 6.50 1,149,703.13 6.79 1.2291282CDK4 USA TREASURY 1.25% 1.250 11/30/2026 AA+ Aaa 500,000.00 453,906.25 2.78 475,468.75 2.81 2.0991282CEC1 USA TREASURY 1.875% 1.875 02/28/2027 AA+ Aaa 580,000.00 540,646.09 3.31 557,003.90 3.29 2.3291282CEN7 USA TREASURY 2.75% 2.750 04/30/2027 AA+ Aaa 700,000.00 653,053.13 3.99 685,589.84 4.05 2.4391282CEW7 USA TREASURY 3.25% 3.250 06/30/2027 AA+ Aaa 500,000.00 488,243.86 2.99 495,781.25 2.93 2.5891282CFH9 USA TREASURY 3.125% 3.125 08/31/2027 AA+ Aaa 500,000.00 482,071.99 2.95 493,808.60 2.91 2.7591282CGH8 USA TREASURY 3.5% 3.500 01/31/2028 AA+ Aaa 500,000.00 490,978.24 3.00 498,867.19 2.94 3.1091282CHK0 USA TREASURY 4% 4.000 06/30/2028 AA+ Aaa 500,000.00 495,236.05 3.03 507,480.47 3.00 3.42Issuer total 7,430,000.00 7,040,881.44 43.05 7,291,135.94 43.04 1.77Federal Home Loan Mortgage Corp3134GW3X2 FREDDIE MAC 0.625% 0.625 10/27/2025 10/27/2024 AA+ Aaa 600,000.00 548,910.00 3.36 580,380.40 3.43 1.043134GXCS1 FREDDIE MAC 0.625% 0.625 11/25/2025 11/25/2024 AA+ Aaa 600,000.00 547,626.00 3.35 576,518.25 3.40 1.123134A2HG6 FREDDIE MAC 0% 0.000 12/11/2025 AA+ Aaa 750,000.00 675,172.50 4.13 715,435.76 4.22 1.173134GXCJ1 FREDDIE MAC 0.65% 0.650 05/28/2026 11/28/2024 AA+ Aaa 500,000.00 451,345.00 2.76 474,875.30 2.80 1.61Issuer total 2,450,000.00 2,223,053.50 13.59 2,347,209.71 13.86 1.21Federal Farm Credit Banks Funding Corp3133EPK79 FEDERAL FARM CREDIT 4.375 12/07/2026 AA+ Aaa 750,000.00 747,652.50 4.57 760,583.85 4.49 2.04 Issuer total 750,000.00 747,652.50 4.57 760,583.85 4.49 2.04 11 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of September 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 Home Loan Banks3130AV6J6 FEDERAL HOME LOAN 4.500 03/13/2026 AA+ Aaa 750,000.00 758,133.75 4.64 757,295.38 4.47 1.39 Issuer total 750,000.00 758,133.75 4.64 757,295.38 4.47 1.39 Toyota Motor Credit Corp89236TKL8 TOYOTA MOTOR CREDIT 5.450 11/10/2027 A+ A1 650,000.00 671,703.50 4.11 677,388.60 4.00 2.79 Issuer total 650,000.00 671,703.50 4.11 677,388.60 4.00 2.79 Bank of America Corp06051GFX2 BANK OF AMERICA CORP 3.500 04/19/2026 A- A1 650,000.00 623,493.00 3.81 643,640.53 3.80 1.46 Issuer total 650,000.00 623,493.00 3.81 643,640.53 3.80 1.46 Federal National Mortgage Association3135G0Q22 FANNIE MAE 1.875% 1.875 09/24/2026 AA+ Aaa 650,000.00 606,047.00 3.71 627,177.77 3.70 1.91 Issuer total 650,000.00 606,047.00 3.71 627,177.77 3.70 1.91 Apple Inc037833EB2 APPLE INC 0.7% 0.700 02/08/2026 01/08/2026 AA+ Aaa 650,000.00 593,749.00 3.63 623,128.79 3.68 1.32 Issuer total 650,000.00 593,749.00 3.63 623,128.79 3.68 1.32 American Honda Finance Corp02665WFK2 AMERICAN HONDA 4.900 07/09/2027 A- A3 600,000.00 599,556.00 3.67 613,175.11 3.62 2.54 Issuer total 600,000.00 599,556.00 3.67 613,175.11 3.62 2.54 JPMorgan Chase & Co46647PDA1 JPMORGAN CHASE & CO 4.323 04/26/2028 04/26/2027 A- A1 600,000.00 588,900.00 3.60 601,197.96 3.55 2.36 Issuer total 600,000.00 588,900.00 3.60 601,197.96 3.55 2.36 12 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
As of September 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
Pfizer Inc717081ET6 PFIZER INC 3.45% 3.450 03/15/2029 12/15/2028 A A2 600,000.00 564,048.00 3.45 587,926.62 3.47 3.98 Issuer total 600,000.00 564,048.00 3.45 587,926.62 3.47 3.98 John Deere Capital Corp24422EVK2 JOHN DEERE CAPITAL 0.700 01/15/2026 A A1 500,000.00 439,170.00 2.69 479,274.31 2.83 1.26 Issuer total 500,000.00 439,170.00 2.69 479,274.31 2.83 1.26 Wells Fargo Bank NA94988J6D4 WELLS FARGO BANK NA 5.450 08/07/2026 07/07/2026 A+ Aa2 400,000.00 397,028.00 2.43 409,551.28 2.42 1.67 Issuer total 400,000.00 397,028.00 2.43 409,551.28 2.42 1.67 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 2.24 386,690.20 2.28 1.84 Issuer total 400,000.00 366,260.00 2.24 386,690.20 2.28 1.84 Cash and Cash Equivalents
CASH 0.000 135,438.62 135,438.62 0.00 135,438.62 0.80 0.00 Issuer total 135,438.62 135,438.62 0.00 135,438.62 0.80 0.00 Grand total 17,215,438.62 16,355,114.31 100.00 16,940,814.67 100.00 1.80 13 DETAIL OF RETURN AND INTEREST RECEIVED
For the period September 1, 2024 - September 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 0.00 243.08 243.08
Total Cash 0.00 0.00 0.00 243.08 243.08Corporate Bonds
02665WFK2 AMERICAN HONDA FINANCE 4.9% 09JUL2027 12.33 0.00 4,205.99 2,368.33 0.00 037833EB2 APPLE INC 0.7% 08FEB2026 (CALLABLE 08JAN26) 1,684.16 0.00 4,637.92 366.53 0.00 06051GFX2 BANK OF AMERICA CORP 3.5% 19APR2026 806.50 0.00 3,791.40 1,832.64 0.00 437076BN1 HOME DEPOT INC 2.125% 15SEP2026 (CALLABLE 15JUN26) 946.86 0.00 2,797.65 684.73 4,250.00 24422EVK2 JOHN DEERE CAPITAL CORP 0.7% 15JAN2026 1,574.55 0.00 3,473.63 281.95 0.00 46647PDA1 JPMORGAN CHASE & CO 4.323% 26APR2028 (CALLABLE 26APR27) 217.50 0.00 3,946.42 2,089.45 0.00 717081ET6 PFIZER INC 3.45% 15MAR2029 (CALLABLE 15DEC28) 617.38 0.00 6,314.62 1,667.50 10,350.00 89236TKL8 TOYOTA MOTOR CREDIT CORP 5.45% 10NOV2027 (470.79) 0.00 4,999.77 2,853.68 0.00 94988J6D4 WELLS FARGO BANK NA 5.45% 07AUG2026 (CALLABLE 07JUL26) 86.48 0.00 2,173.02 1,756.11 0.00 Total Corporate Bonds 5,474.97 0.00 36,340.42 14,600.00 13,900.92Government Agencies 3135G0Q22 FANNIE MAE 1.875% 24SEP2026 1,297.83 0.00 3,588.15 981.78 6,093.75 3133EPK79 FEDERAL FARM CREDIT BANK 4.375% 07DEC2026 64.97 0.00 3,931.77 2,643.23 0.00 3130AV6J6 FEDERAL HOME LOAN BANK 4.5% 13MAR2026 (227.20) 0.00 3,449.82 2,718.75 16,875.00 3134A2HG6 FREDDIE MAC 0% 11DEC2025 2,355.62 0.00 4,896.03 0.00 0.00 3134GXCS1 FREDDIE MAC 0.625% 25NOV2025 (CALLABLE 25NOV24) 1,730.41 0.00 1,413.50 302.08 0.00 3134GW3X2 FREDDIE MAC 0.625% 27OCT2025 (CALLABLE 27OCT24) 1,741.70 0.00 3,777.81 302.08 0.00 14 DETAIL OF RETURN AND INTEREST RECEIVED
For the period September 1, 2024 - September 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 3,510.64 261.81 0.00 Total Government Agencies 8,301.23 0.00 24,567.72 22,968.75 7,209.73Government Bonds 91282CAJ0 USA TREASURY 0.25% 31AUG2025 1,147.14 0.00 2,110.94 72.51 437.50 91282CBC4 USA TREASURY 0.375% 31DEC2025 3,537.93 0.00 8,250.00 366.85 0.00 91282CDK4 USA TREASURY 1.25% 30NOV2026 1,087.12 0.00 3,437.50 512.29 0.00 912828YV6 USA TREASURY 1.5% 30NOV2024 1,526.67 0.00 1,430.66 614.75 0.00 91282CEC1 USA TREASURY 1.875% 28FEB2027 1,058.85 0.00 3,874.21 901.24 5,437.50 91282CEN7 USA TREASURY 2.75% 30APR2027 1,099.46 0.00 4,429.68 1,569.30 0.00 912828XZ8 USA TREASURY 2.75% 30JUN2025 506.32 0.00 1,458.79 784.65 0.00 91282CFH9 USA TREASURY 3.125% 31AUG2027 412.77 0.00 3,222.66 1,294.89 7,812.50 91282CEW7 USA TREASURY 3.25% 30JUN2027 272.55 0.00 3,125.00 1,324.73 0.00 91282CFK2 USA TREASURY 3.5% 15SEP2025 329.08 0.00 3,175.77 2,157.68 13,125.00 91282CGH8 USA TREASURY 3.5% 31JAN2028 183.36 0.00 3,359.38 1,426.63 0.00 91282CGU9 USA TREASURY 3.875% 31MAR2025 548.64 0.00 1,136.72 1,588.11 9,687.50 91282CHK0 USA TREASURY 4% 30JUN2028 91.03 0.00 3,203.12 1,630.43 0.00 Total Government Bonds 11,800.92 0.00 42,214.43 36,500.00 14,244.06Grand total 25,577.12 103,122.57 74,311.83 0.00 35,597.79 15 TRANSACTION REPORT
For the period September 1, 2024 - September 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)
08/31/2024 437.5008/31/2024
91282CAJ0 Government Bonds USA TREASURY 0.25% 08/31/20 Income 25 350,000.00 0.00 437.50 0.00 08/31/2024 5,437.5008/31/2024
91282CEC1 Government Bonds USA TREASURY 1.875% 02/28/2 Income 027 580,000.00 0.00 5,437.50 0.00 08/31/2024 7,812.5008/31/2024
91282CFH9 Government Bonds USA TREASURY 3.125% 08/31/2 Income 027 500,000.00 0.00 7,812.50 0.00 09/13/2024 16,875.0009/13/2024
3130AV6J6 Government Agencies FEDERAL HOME LOAN BANK 0 Income 3/13/2026 750,000.00 0.00 16,875.00 0.00 09/15/2024 4,250.0009/15/2024
437076BN1 Corporate Bonds HOME DEPOT INC 2.125% 09/15/ Income 2026 400,000.00 0.00 4,250.00 0.00 09/15/2024 10,350.0009/15/2024
717081ET6 Corporate Bonds PFIZER INC 3.45% 15MAR2029 0 Income 3/15/2029 600,000.00 0.00 10,350.00 0.00 09/15/2024 13,125.0009/15/2024
91282CFK2 Government Bonds USA TREASURY 3.5% 09/15/202 Income 5 750,000.00 0.00 13,125.00 0.00 09/24/2024 6,093.7509/24/2024
3135G0Q22 Government Agencies FANNIE MAE 1.875% 09/24/ Income 2026 650,000.00 0.00 6,093.75 0.00 09/30/2024 9,687.5009/30/2024
91282CGU9 Government Bonds USA TREASURY 3.875% 03/31/2 Income 025 500,000.00 0.00 9,687.50 0.00 09/30/2024 Income Cash and Cash Equivalents Cash 0.00 0.00 0.00 243.08 243.08 16 ADDITIONAL INFORMATION
As of September 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 September 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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