Attachment 1 — Burbank City Council, May 23, 2023

Dear City Council Members
Justin Hess, City Manager
Judie Wilke, Assistant City Manager
Jennifer Becker, Financial Services Director
Stela Kalomian, Acting CFO Burbank Water & Power
This report fulfills City, Youth Endowment Services Fund, Parking Authority, Public Financing Authority, Successor Agency to the Redevelopment Agency and Housing Authority resolutions.

CITY PORTFOLIO OVERVIEW
The City must maintain $101 million in liquidity at all times (maturities within one year plus real estate taxes due from the County in April and December) to meet our projected budgeted expenditures. We currently have $217 million in liquidity, with $105 million in our account at the Morgan Stanley Institutional Liquidity Fund – Government Portfolio, $65 million in investments maturing within a year and $47 million in real estate taxes due in April and December.

The City Investment Pool ended March at $549 million, up from February’s balance of $534 million. Market value came in at 96% in March, up from 94.7% in February. The weighted average yield of the portfolio at the end of the month is 2.91% and the total rate of return fiscal year-to-date is 2.47%.

Credit News
On March 30, S&P’s revised Utah Transit Authority’s rating from AA to AA+, while affirming its stable outlook, stating that it “reflects an improvement in UTA's underlying credit fundamentals, leading to a higher assessment of its general creditworthiness. Based on UTA's strong tax revenue performance, supported by the size, maturity, and diversity of the UTA's coverage area, we anticipate that maximum annual debt service (MADS) coverage will remain strong on the UTA’s outstanding sales tax revenue bonds and provide funding for operations and capital projects as ridership and fare revenue recover.” CITY OF BURBANK – OFFICE OF THE CITY TREASURER
275 East Olive Avenue, PO
Box 7145, Burbank, CA 91510-7145
(818)238 -5880
City of Burbank Investment Portfolio Report for March 2023 Dated May 3, 2023

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ATTACHMENT 1
On April 17, S&P’s revised Mars’s rating from A to A+, while affirming its stable outlook, “as a result of its increased scale, solid operating performance, and strong cash flow generation. The Mars' family ownership has allowed the company to reinvest most of its cash flow into the business versus funding large shareholder returns, which we believe supports a higher rating, despite sizable ongoing acquisitions. The stable outlook reflects our expectation that the company will maintain strong cash flow and leverage between 2x-2.5x, factoring in ongoing acquisitions. We forecast U.S.-based Mars Inc. to continue to increase its scale through acquisitions with minimal deterioration of credit metrics. Mars reported strong operating results for fiscal 2022, despite extraordinary inflationary pressures. Since 2018, the company's revenues have grown by about $10 billion from organic growth and ac quisitions.” On April 21, Moody’s revised U.S. Bancorp’s rating from A2 to A3, while changing its outlook from negative to stable, stating that it “reflects a deterioration in the operating environment and funding conditions for US banks. In response to this, Moody's has lowered the macro profile of the US banking system to 'Strong +' from 'Very Strong –'. The change in funding conditions reflects rising asset liability management challenges at US banks. Specifically, the banking system faces rising funding and profitability pressures related to the significant and rapid tightening in monetary policy, which has led to a reduction in US banking system deposits and higher funding costs. Higher interest rates have also reduced the value of US banks' fixed rate securities and loans which increases their liquidity and capital risks. The downgrade of U.S. Bancorp's ratings reflects its relatively low capitalization, which decreased following the December 2022 acquisition of MUFG Union Bank, N.A.. In addition to the slow, but steady, improvement in capitalization expected over the coming quarters, U.S. Bancorp will face heightened regulatory standards and supervisory expectations as it approaches $700 billion in total assets, a credit positive in the long run, but potentially driving higher compliance and regulatory costs. The rating action also reflects U.S. Bancorp's asset liability management challenges. The stable outlook reflects the diversity of U.S. Bancorp's franchise, its strong management team and clear strategy, as well as Moody's expectation that the bank will successfully execute the integration of MUFG Union Bank, N.A. while also strengthening its capital profile.”

MARKET OUTLOOK
In a sign of an economic slowdown, U.S. GDP came in lower than expected at 1.1% in the first quarter. While business investment and inventories fell, consumer spending remained a bright spot as it rose 3.7% from the previous year, the fastest since mid-2021. Propelled by higher wages and a resilient job market, consumers continued to spend on both goods and services. Consumer confidence continues to decline, however, hitting a 9-month low in April, and businesses have indicated that customers have cut back recently as they worry about a possible recession. Meanwhile, while inflation has moderated, it remains stubbornly higher than the Fed’s 2% target. The Core Personal Consumption Expenditures Price Index remains sticky and came in at 4.6% annualized in March. In particular, the Services component of inflation jumped 5.5% year over year, still not much lower than the 5.8% increase in February, which was the worst since 1984. When inflation started two years ago, it was primarily due to the supply shortages and increased demand for goods. However, the primary driver today has become the cost of Services, and how quickly inflation subsides depends on how much demand for these services subsides, and with that, the pricing power businesses have enjoyed in recent times. Wage growth would also need to moderate as labor is a large input cost of Services.

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There remains a lot of uncertainty in the economy and markets continue to exhibit volatility. The banking crisis is not over yet and regional banks continue to get hammered as investors worry about the threat of asset-liability mismatches and uninsured deposits to lender portfolios. This comes after JP Morgan’s recent takeover of failed bank First Republic. Meanwhile, the debt ceiling crisis also poses a risk as U.S. Treasury Secretary Janet Yellen indicated the U.S. might run out of cash as early as June if Congress does not raise the ceiling or suspend the debt limit. With the work-from-home trend since the pandemic, office vacancy rates hit an all-time
high in the first quarter as businesses are choosing not to renew their leases or just sublease their unutilized office space.

As a result, commercial real estate values have declined and mortgage defaults have increased in the sector especially as property owners refinance at higher interest rates. In its latest meeting, the Federal Reserve decided to raise rates another 25 bps, but hinted at a possible pause in rate hikes, stating that “job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated. The U.S. banking system is sound and resilient. Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. The Committee remains highly attentive to inflation risks. The Committee will closely monitor incoming information and assess the implications for monetary policy.”

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CC: Konstantine Anthony, Council Member/Liaison to Treasurer’s Office Zizette Mullins, Council Member/Liaison to Treasurer’s Office Darin Guggenheimer, Treasurer’s Oversight Review Committee Member Norelyn Kurasz, Treasurer’s Oversight Review Committee Member Richard Martin, Treasurer’s Oversight Review Committee Member Scott Rife, Treasurer’s Oversight Review Committee Member David Escobar, Treasurer’s Oversight Review Committee Member Krystle Ang Palmer
City Treasurer

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Also included with this report is a Finance-prepared report of funds with fiscal agents. The book value and market value of these investments is $377, 224,220 at March 31, 2023.

Asset Category | Policy Maximum
Face Amount/Shares
Market Value
Book Value
% of Portfolio MV
YTM @ Cost
Days To Maturity
22,785,000 22,125,975 22,785,000 4.03

3.54 857
109,387,000 104,616,227 109,219,435 19.07 2.34 710
105,426,657 105,426,657 105,426,657 19.21

4.56 1
68,925,000 64,529,911 67,064,806 11.76 2.82 1,061
24,000,000 22,056,120 23,849,930 4.02

1.74 1,146
220,700,000 207,283,053 220,085,468 37.78

3.04 1,008
Total / Average
575,223,657 548,724,393 571,610,007
100.00

2.91 842

INVESTMENT POLICY COMPLIANCE
I certify that the City's Investment Portfolio is in full compliance with the City's Investment Policy and California Government Code Section 53601, and I believe the Investment Pool contains sufficient cash flow from liquid and maturing securities, bank deposits, and income to meet the City's expenditure requirement for the next six months.

CITY OF BURBANK

OFFICE OF THE CITY TREASURER
Investment Report | March 2023
Date
Krystle Ang Palmer, City Treasurer
LAIF | Successor Agency
LAIF | Housing Authority
2,224,000
600,000
Total
2,193,999 2,224,000
591,906 600,000
05/03/23
578,047,657 551,510,298 574,434,007

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Asset Category Allocation
Asset Category | Policy Maximum
Market Value
2/28/2023
% of Portfolio
2/28/2023
Market Value
3/31/2023
% of Portfolio
3/31/2023
18,951,170

3.55 22,125,975

4.03 106,811,125

20.01 104,616,227

19.07 101,036,537

18.93 105,426,657

19.21 65,678,862

12.30 64,529,911

11.76 21,710,280

4.07 22,056,120

4.02 197,352,011

36.97 207,283,053

4.17 22,686,450

4.13 Total / Average
533,803,255
100.00
548,724,393
100.00
Portfolio Holdings as of 2/28/2023
Portfolio Holdings as of 3/31/2023
Begin Date: 2/28/2023, End Date: 3/31/2023
Monthly Treasurer's Report
Distribution by Asset Category - Market Value
City of Burbank

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Maturity Range Allocation
Maturity Range
Market Value
2/28/2023
% of Portfolio
2/28/2023
Market Value
3/31/2023
% of Portfolio
3/31/2023
0-1 Month
115,793,894

21.69 111,901,681

20.39 1-3 Months
25,369,075

4.75 22,671,977

4.13 3-6 Months
11,961,734

2.24 8,543,187

1.56 6-9 Months
6,400,436

1.20 10,875,413

1.98 9-12 Months
15,786,780

2.96 16,475,711

3.00 1-2 Years
51,013,467

9.56 60,552,619

11.04 2-3 Years
71,451,527

13.39 75,267,295

13.72 3-4 Years
153,426,317

28.74 186,720,121

34.03 4-5 Years
82,600,025

15.47 55,716,389

10.15 Total / Average
533,803,255
100.00
548,724,393
100.00
Portfolio Holdings
Begin Date: 2/28/2023, End Date: 3/31/2023
Monthly Treasurer's Report
Distribution by Maturity Range - Market Value
City of Burbank

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58,029 334,860 293, 018
48,561 193,638 360,123
241,309 2,165,786 2,112,549
Money Market Fund | 20 % 390,119 1,868,657 0 132,333 1,135,017 794,850
32,725 234,951 81,702
398,503 2,428,187 785,781
39,131 348,500 110,642
1,340,710
YTM@Cost 2.91% TRR@BV 2.47% TRR@BV 1.27%
CD | Negotiable | 30 %
Income Summary
Begin Date: 2/28/2023, End Date: 3/31/2023
City of Burbank
Monthly Treasurer's Report
Supranational Obligations | 15 %
Asset Category Allocation
Asset Category | Policy Maximum Mar 2023 | MTD Mar 2023 | Fiscal YTD US Agency | 90 %
Medium Term Note | 30 %
Municipal Bonds | 30 %
LAIF Per Account | 75M
Mar 2022 | Fiscal YTD
8,709,596 4,538,666
US Treasury | No Limit
The chart to the left shows relevant rates (Money
Market Fund, the 12-month moving average of the
2-year treasury, and portfolio current yield) as of
March 31, 2023, as well as current treasury yields
and those from a year ago.

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KEY
City of Burbank
Credit Ratings | Medium Term Notes
End Date: 3/31/23 Monthly Treasurer's Report
"Watch" implies an imminent but not inevitable action.
+ | Positive Watch - | Negative Watch
"Outlook" implies entity is being monitored.

Neg | Negative Outlook
Issuer Moody's S & P
1,401,000 05/01/2023 AA-
3,000,000 05/01/2023 Aa3 A+
7,000,000 05/03/2023 Aaa AA+
3,050,000 08/08/2023 Aaa AAA
1,850,000 08/16/2023 A1 A
3,000,000 10/01/2023 Aaa AAA
2,000,000 01/08/2024 A1 A+
1,000,000 02/05/2024 A3 A+
2,000,000 03/07/2024 A2 A
2,000,000 05/15/2023 A2 A
3,000,000 01/22/2024 A2 A-
1,270,000 02/15/2024 A2 A
A1
3,000,000 04/01/2024 A2 A
3,000,000 05/15/2024 A1 A
3,000,000 07/08/2024 Aa2 AA
3,000,000 07/30/2024 A+A2(Neg)
3,000,000 08/30/2024 A2 BBB+
2,000,000 08/15/2024 A2 A
1,036,000 09/06/2024 A1 A+
2,000,000 12/01/2024 A+
3,000,000 01/23/2025 A-
A1
A1
Nike Inc
Texas Instruments Inc
Apple Inc
TJX Cos Inc
Microsoft Corp
Bank of NY Mellon Corp
Pres & Fellows of Harvard
Toyota Motor Credit
Bank of America Corp
US Bancorp
Home Depot
John Deere Capital Corp
Suntrust Bank
Bank of NY Mellon Corp
Walmart Inc
US Bancorp
Honeywell International
Walt Disney Company
Coca-Cola Co
Estee Lauder
Co Inc
JP Morgan Chase & Co
Adobe Inc
Mastercard Inc
John Deere Capital Corp
Unilever Capital Corp
Intel Corp
Qualcomm Inc
State Street Corp
Face Amount/Shares Maturity Date
(Neg)
(Neg)
3,000,000 02/01/2025 A+
4,883,000 03/03/2025 A+
A2
Aa3
1,000,000 03/13/2025 A
2,000,000 03/22/2025 A+
A2
A1
2,000,000 03/25/2025 A2 A
3,000,000 08/18/2025 A1 A
3,674,000 0
5/20/2025 A2 A
(Neg) (Neg)
New York Life Global
Mass Institute of Tech
Mars Inc
Massmutual Global Funding
BMW US Capital
Pricoa Global Funding
Met Tower Global Funding
Caterpillar Financial Services
3,000,000 07/16
/2026 Aa3 AA+
3,000,000 01/
15/2026 Aaa AA+
1 ,995,000 0
7/16 /2026 A1 A+
3,000,000 08/12/2026
Aa3 AA
-
1,228
,000 09/14/2026 Aa3 AA-
3,000,000 07/01
/2026 Aaa AAA
A2 A
3 ,000
,000 01/08/2027 A2 A
3,000,000 09/0
1/2026

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KEY "Watch" implies an imminent but not inevitable action. + | Positive Watch - | Negative Watch
"Outlook" implies entity is being monitored.

Neg | Negative Outlook
Issuer Face Amount/Shares Maturity Date Moody's S & P
2,000,000 01/11/2027 Aaa AA+
3,000,000 01/15/2027 A2 A
2,000,000 01/11/2027 Aa3 AA-
2,000,000 01/14/2027 Aa3 AA-
3,000,000 03/15/2027 Aa2 AA
3,000,000 06/03/2027 A1 AA
Met Life Global
Northwest Mutual Global
Nestle Holdings
Target Corp
Berkshire Hathaway
Amazon

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Issuer Face Amount/Shares Moody's S & P
KEY
Credit Ratings | Municipal Bonds
End Date: 03/31/23Monthly Treasurer's Report
Maturity Date
City of Burbank
"Watch" implies an imminent but not inevitable action.
+ | Positive Watch - | Negative Watch
"Outlook" implies entity is being monitored.

Neg | Negative Outlook Pos | Positive Outlook
3,000,000 Aaa10/01/2023
A1450,000 01/01/2024
Aaa800,000 05/15/2024
Aa2
1,235,000 08/01/2024 NR AA-
1,000,000 10/01/2024 NR AA-
3,000,000 05/15/2023 Aaa
2,135,000 05/15/2024
Aa3
AAA
NR
AAA
AAA
A
AAA
NR
3,000,000 06/01/2025 AAA AAA
Aaa1,605,000 05/15/2023
1,000,000 05/15/2023 Aa2
600,000 06/01/2024
06/01/2025 Aa3 AA-
AA-
1,000,000
Connecticut State
Long Beach
Texas A&M University
Texas State
San Francisc
o CA
Connecticut Housing
Long Beach
State of California
Poway Unif
SD
South Gate Utility Authority
Ca State Health Facilities
Florida State Board Pub Edu
CA Infrastructure & Econ Dev
Oakland California Pension
500,000 10/01/2025 NR AAA
1,430,000 12/15/2025 Aa1 AA
1,100,000 05/01/2026 Aa1 AAA
750,000 03/15/2026 NR AA+New York State Dormitory Authority NY Housing Development
NYC Transitional Finance Authority
Univ of California Revenues
Beverly Hills Public Financing Authority
CA State Health Facilities
Maryland State
Burbank Unified School District
Hawaii State
San Francisco Redev Agency
1,800,000 06/01/2026 NR AA+
1,900,000 05/15/2026 Aa2 AA
3,000,000 08/ 01/2026 NR AA
1,000,000 06/01/2026 Aa3 AA-
3,000,000 06/01/2026 Aaa AAA
3,000,000 08/01/2026 Aa2 AA+
770,000 05/01/2026 Aa2 AA+
620,000 08/01/2026 Aa2 NR
Santa Monica-Malibu Unified
Massachusetts School Building Authority
Tennessee State School Bond Authority
CA State University Revenue
Utah State Transit Authority
New York State
1,800,000 08/ 15/2026 Aa2 AA+
810,000 08/ 01/2026 Aa1 AA+
3,000,000 02/1 5/2027 Aa1 AA+

3,000,000 09 /15/2026 Aa1 AA+
1,
855,000 12/15/2026 Aa2 AA+
1,040,000 11/01/2026 Aa2 AA-

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Issuer Face Amount/Shares Moody's S & P
KEY
Maturity Date
"Watch" implies an imminent but not inevitable action.
+ | Positive Watch - | Negative Watch
"Outlook" implies entity is being monitored.

Neg | Negative Outlook Pos | Positive Outlook
2,365,000 03/15/2027 NR AA+

2,000,000 03 /15/2027 Aa1 NR
1,125,000 03/15/2027 Aa1
750,000 04/01/2027 Aa2 AAA
895,000 04/01/2027 NR AA+
3,000,000 05/15/2027 Aa2 AA
Aa1 AA+ 1,525,000 05/01/2027
1,255,000 06/01/2027 Aa3 AA-
815,000 04/27/2027 Aa3 AA
2,000,000 07/15/2027 Aa1 NR
2,520,000 08/01/2027 Aa2 NR
NY Urban Development
NY Urban Development
NY Dormitory Authority
Bay Area Toll Authority
Oregon State Lottery Revenue
West Hollywood CA Lease Revenue
Wisconsin State
Wisconsin State
University of California Revenues
CA State Health Facilities
Massachusetts State Special Obligation
San Diego Public Financing
Aa1 AA+ 1,475,000 05/01/2027
NR

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Description CUSIP/Ticker % of Portfolio Settlement Date Maturity Date Days To Maturity YTM @ Cost Face Amount/Shares Cost Value Market Value Credit Rating 1 Credit Rating 2 CD | Negotiable | 30 %
Affinity Bank 4.9 3/17/2028 00833JAQ4 0.04 3/17/2023 3/17/2028 1,813 4.900 245,000.00 245,000.00 245,553.70 FDIC Insured FDIC Insured Affinity Federal Credit Union 5.05 12/16/2024 00832KBG3 0.04 12/16/2022 12/16/2024 626 5.050 245,000.00 245,000.00 245,215.60 NCUA Insured NCUA Insured Alabama Credit Union 4.9 11/22/2024 01025RAD1 0.04 11/22/2022 11/22/2024 602 4.900 245,000.00 245,000.00 244,588.40 NCUA Insured NCUA Insured Alaska USA Federal Credit Union 4.9 1/30/2025 011852AB6 0.04 1/30/2023 1/30/2025 671 4.900 245,000.00 245,000.00 244,671.70 NCUA Insured NCUA Insured All In Federal Credit Union 4.6 2/17/2028 01664MAE6 0.04 2/17/2023 2/17/2028 1,784 4.600 245,000.00 245,000.00 242,297.65 NCUA Insured NCUA Insured Alliant Credit Union 5 1/30/2026 01882MAE2 0.04 1/30/2023 1/30/2026 1,036 5.000 245,000.00 245,000.00 245,592.90 NCUA Insured NCUA Insured American Express National Bank 2 3/9/2027 02589ABQ4 0.04 3/9/2022 3/9/2027 1,439 2.000 245,000.00 245,000.00 219,630.25 FDIC Insured FDIC Insured Athol Savings Bank 2 7/31/2023 047539AM3 0.04 7/30/2019 7/31/2023 122 2.000 245,000.00 245,000.00 242,552.45 FDIC Insured FDIC Insured Austin Telco FCU 5.05 11/27/2026 052392CC9 0.04 11/28/2022 11/27/2026 1,337 5.050 245,000.00 245,000.00 246,136.80 NCUA Insured NCUA Insured Axos Bank 1.65 3/26/2024 05465DAK4 0.04 3/26/2020 3/26/2024 361 1.650 245,000.00 245,000.00 236,839.05 FDIC Insured FDIC Insured Balboa Thrift & Loan 2.1 7/19/2024 05765LAZ0 0.04 7/19/2019 7/19/2024 476 2.100 245,000.00 245,000.00 235,871.30 FDIC Insured FDIC Insured Bank Five Nine 4.65 3/20/2028 062119BK7 0.04 3/20/2023 3/20/2028 1,816 4.650 245,000.00 245,000.00 242,858.70 FDIC Insured FDIC Insured Bank of Baroda NY 3.55 11/30/2023 06062R7R7 0.04 11/30/2018 11/30/2023 244 3.550 245,000.00 245,000.00 242,505.90 FDIC Insured FDIC Insured Barclays Bank 1.95 2/23/2027 06740KNY9 0.04 2/23/2022 2/23/2027 1,425 1.950 245,000.00 245,000.00 219,478.35 FDIC Insured FDIC Insured Baxter Credit Union 5 11/30/2026 07181JAV6 0.04 11/28/2022 11/30/2026 1,340 5.000 245,000.00 245,000.00 245,727.65 NCUA Insured NCUA Insured Beal Bank 2.05 2/24/2027 07371CH69 0.04 3/2/2022 2/24/2027 1,426 2.050 245,000.00 245,000.00 220,259.90 FDIC Insured FDIC Insured Beal Bank 2.05 2/24/2027 07371AYT4 0.04 3/2/2022 2/24/2027 1,426 2.050 245,000.00 245,000.00 220,259.90 FDIC Insured FDIC Insured BMW Bank of North America 2.75 4/22/2026 05580AM92 0.04 4/22/2022 4/22/2026 1,118 2.750 245,000.00 245,000.00 230,182.40 FDIC Insured FDIC Insured Bridgewater Bank Bloom MN 4.8 3/29/2028 108622NK3 0.04 3/29/2023 3/29/2028 1,825 4.800 245,000.00 245,000.00 244,495.30 FDIC Insured FDIC Insured Capital On Bank USA NA 2.25 7/31/2024 14042TBK2 0.04 7/31/2019 7/31/2024 488 2.250 245,000.00 245,000.00 236,199.60 FDIC Insured FDIC Insured Capital One 2.8 4/20/2027 14042RQS3 0.04 4/20/2022 4/20/2027 1,481 2.800 245,000.00 245,000.00 226,166.85 FDIC Insured FDIC Insured Charles Schwab Bank5.4 9/23/2024 15987UAV0 0.04 3/17/2023 9/23/2024 542 5.400 245,000.00 245,000.00 246,271.55 FDIC Insured FDIC Insured CIBC Bank USA 4.75 3/24/2028 12547CAT5 0.04 3/24/2023 3/24/2028 1,820 4.750 245,000.00 245,000.00 243,948.95 FDIC Insured FDIC Insured Citibank National Association SD 2.9 4/11/2023 17312QJ26 0.04 4/11/2018 4/11/2023 11 2.900 245,000.00 245,000.00 244,845.65 FDIC Insured FDIC Insured Citizens First Bank WI 3.1 7/18/2023 17462VAG1 0.04 1/18/2019 7/18/2023 109 3.100 245,000.00 245,000.00 243,596.15 FDIC Insured FDIC Insured Citizens State Bank of La Crosse 4.7 3/24/2028 176688DA4 0.04 3/24/2023 3/24/2028 1,820 4.700 245,000.00 245,000.00 243,405.05 FDIC Insured FDIC Insured City National Bank Beverly Hills 4.9 11/24/2025 178180GS8 0.04 11/23/2022 11/24/2025 969 4.900 245,000.00 245,000.00 244,879.95 NCUA Insured NCUA Insured Comenity Capital Bank 2.65 4/14/2027 20033A3A2 0.04 4/14/2022 4/14/2027 1,475 2.650 245,000.00 245,000.00 224,714.00 FDIC Insured FDIC Insured Connex Credit Union 3.5 8/29/2025 208212AY6 0.04 8/31/2022 8/29/2025 882 3.500 245,000.00 245,000.00 237,044.85 NCUA Insured NCUA Insured Delta National Bank and Trust NY 2 2/25/2027 24773RCR4 0.04 3/9/2022 2/25/2027 1,427 2.000 245,000.00 245,000.00 219,814.00 FDIC Insured FDIC Insured Direct Federal Credit Union MA 3.5 9/11/2023 25460FCF1 0.04 12/10/2018 9/11/2023 164 3.500 245,000.00 245,000.00 243,348.70 NCUA Insured NCUA Insured Discover Bank 4.45 10/18/2027 254673W51 0.04 10/18/2022 10/18/2027 1,662 4.450 245,000.00 245,000.00 240,761.50 FDIC Insured FDIC Insured Dollar Bank Federal Savings PA 2.9 4/13/2023 25665QAX3 0.04 4/13/2018 4/13/2023 13 2.900 245,000.00 245,000.00 244,818.70 FDIC Insured FDIC Insured Eagle Community Credit Union 5 12/26/2023 26948GAF1 0.04 12/23/2022 12/26/2023 270 5.000 245,000.00 245,000.00 244,732.95 NCUA Insured NCUA Insured Eaglemark Savings Bank 2 3/9/2027 27004PCN1 0.04 3/9/2022 3/9/2027 1,439 2.000 245,000.00 245,000.00 219,630.25 FDIC Insured FDIC Insured First Family Federal Credit Union 4.85 1/17/2025 32014RAA5 0.04 1/19/2023 1/17/2025 658 4.850 245,000.00 245,000.00 244,426.70 NCUA Insured NCUA Insured First Financial 4.45 2/8/2028 32024DAC0 0.04 2/8/2023 2/8/2028 1,775 4.450 245,000.00 245,000.00 240,705.15 FDIC Insured FDIC Insured First Technology 3.5 11/16/2023 33715LCT5 0.04 11/16/2018 11/16/2023 230 3.500 245,000.00 245,000.00 242,589.20 FDIC Insured FDIC Insured FirstTrust Savings Bank 2.45 6/20/2023 337630BX4 0.04 6/20/2019 6/20/2023 81 2.450 245,000.00 245,000.00 243,618.20 FDIC Insured FDIC Insured Flagstar Bank N.A. 5.25 4/24/2025 33847GAK8 0.04 3/30/2023 4/24/2025 755 5.250 245,000.00 245,000.00 246,455.30 FDIC Insured FDIC Insured City of Burbank
Portfolio Position Detail Report
Monthly Treasurer's Report
03/31/2023

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Description CUSIP/Ticker % of Portfolio Settlement Date Maturity Date Days To Maturity YTM @ Cost Face Amount/Shares Cost Value Market Value Credit Rating 1 Credit Rating 2 FNB Bank WV 2.7 4/4/2024 30257JAN5 0.04 4/4/2019 4/4/2024 370 2.700 245,000.00 245,000.00 239,200.85 FDIC Insured FDIC Insured FNB of McGregor TX 2.3 6/28/2024 32112UDA6 0.04 6/28/2019 6/28/2024 455 2.300 245,000.00 245,000.00 237,586.30 FDIC Insured FDIC Insured Goldman Sachs Bank USA 2.55 6/19/2024 38149MBM4 0.04 6/19/2019 6/19/2024 446 2.550 245,000.00 245,000.00 237,750.45 FDIC Insured FDIC Insured Greenstate Credit Union 0.95 7/21/2026 39573LBM9 0.04 7/21/2021 7/21/2026 1,208 0.950 245,000.00 245,000.00 215,462.80 NCUA Insured NCUA Insured Home Loan Investment Bank 5.25 3/28/2025 43719LAJ4 0.04 3/29/2023 3/28/2025 728 5.250 245,000.00 245,000.00 246,386.70 FDIC Insured FDIC Insured Interaudi Bank NY 3.2 6/29/2023 45842PAQ4 0.04 6/29/2018 6/29/2023 90 3.200 245,000.00 245,000.00 243,868.10 FDIC Insured FDIC Insured Iowa State Bank 2.1 7/10/2024 46256YBB4 0.04 7/10/2019 7/10/2024 467 2.100 245,000.00 245,000.00 236,094.25 FDIC Insured FDIC Insured Keypoint Credit Union 5 6/23/2025 49332PAB6 0.04 12/21/2022 6/23/2025 815 5.000 245,000.00 245,000.00 245,318.50 NCUA Insured NCUA Insured Knoxville TVA Employee Credit Union 1.95 11/26/202 499724AK8 0.04 11/26/2019 11/26/2024 606 1.950 245,000.00 245,000.00 233,132.20 NCUA Insured NCUA Insured Lafayette Federal Credit Union 3.25 5/25/2027 50625LBJ1 0.04 5/25/2022 5/25/2027 1,516 3.250 245,000.00 245,000.00 229,783.05 NCUA Insured NCUA Insured Latino Community Credit Union 5 6/21/2024 51828MAE4 0.04 12/21/2022 6/21/2024 448 5.000 245,000.00 245,000.00 244,786.85 NCUA Insured NCUA Insured Leaders Credit Union 5 3/30/2028 52171MAG0 0.04 3/30/2023 3/30/2028 1,826 5.000 245,000.00 245,000.00 246,670.90 NCUA Insured NCUA Insured Legends Bank TN 2.75 2/22/2024 52465JHM2 0.04 2/22/2019 2/22/2024 328 2.750 245,000.00 245,000.00 239,923.60 FDIC Insured FDIC Insured Liberty Federal Credit Union 5 12/5/2023 53052LAD1 0.04 12/5/2022 12/5/2023 249 5.000 245,000.00 245,000.00 244,801.55 NCUA Insured NCUA Insured Liberty First Credit Union 4.35 1/27/2028 530520AD7 0.04 1/27/2023 1/27/2028 1,763 4.350 245,000.00 245,000.00 239,654.10 NCUA Insured NCUA Insured Live Oak Banking Co 1.85 11/27/2024 538036GU2 0.04 11/27/2019 11/27/2024 607 1.850 245,000.00 245,000.00 232,725.50 FDIC Insured FDIC Insured Maine Savings FCU 1.9 11/8/2024 560507AN5 0.04 11/8/2019 11/8/2024 588 1.900 245,000.00 245,000.00 233,259.60 FDIC Insured FDIC Insured Manufacturers & Traders Trust Co 4.9 12/9/2024 564759RJ9 0.04 12/7/2022 12/9/2024 619 4.900 245,000.00 245,000.00 244,593.30 FDIC Insured FDIC Insured Medallion Bank Utah 5.25 3/28/2025 58404DRU7 0.04 3/28/2023 3/28/2025 728 5.250 245,000.00 245,000.00 246,386.70 FDIC Insured FDIC Insured Merrick Bank 2.2 7/31/2024 59013KBV7 0.04 7/31/2019 7/31/2024 488 2.200 245,000.00 245,000.00 235,979.10 FDIC Insured FDIC Insured Metro Credit Union 1.7 2/18/2027 59161YAP1 0.04 2/18/2022 2/18/2027 1,420 1.700 245,000.00 245,000.00 217,204.75 FDIC Insured FDIC Insured Morgan Stanley Bank NA 2.7 6/6/2024 61690UHB9 0.04 6/6/2019 6/6/2024 433 2.700 245,000.00 245,000.00 238,360.50 FDIC Insured FDIC Insured Morgan Stanley NY 2.85 4/4/2024 61760AYB9 0.04 4/4/2019 4/4/2024 370 2.850 245,000.00 245,000.00 239,614.90 FDIC Insured FDIC Insured MVB Bank INC 5.3 3/24/2025 62847NDN3 0.04 3/24/2023 3/24/2025 724 5.300 245,000.00 245,000.00 246,602.30 FDIC Insured FDIC Insured Naheola Credit Union 2.05 1/10/2025 629801AA9 0.04 1/10/2020 1/10/2025 651 2.050 245,000.00 245,000.00 233,546.50 NCUA Insured NCUA Insured National Coop Bank OH 3.4 12/21/2023 635573AL2 0.04 12/21/2018 12/21/2023 265 3.400 245,000.00 245,000.00 241,974.25 FDIC Insured FDIC Insured Numerica Credit Union 3.1 5/13/2027 67054NAW3 0.04 5/13/2022 5/13/2027 1,504 3.100 245,000.00 245,000.00 228,504.15 NCUA Insured FDIC Insured Oklahoma's Credit Union 5 12/14/2023 67886WAF4 0.04 12/14/2022 12/14/2023 258 5.000 245,000.00 245,000.00 244,772.15 NCUA Insured NCUA Insured Oregon State Credit Union 5.05 3/21/2024 68609EAC5 0.04 12/21/2022 3/21/2024 356 5.050 245,000.00 245,000.00 244,853.00 NCUA Insured NCUA Insured Pacific Premier Bank 5.35 9/23/2024 69478QGY0 0.04 3/22/2023 9/23/2024 542 5.350 245,000.00 245,000.00 246,097.60 FDIC Insured FDIC Insured Pacific Western Bank 5.5 9/20/2024 69506YXQ7 0.04 3/20/2023 9/20/2024 539 5.500 245,000.00 245,000.00 246,602.30 FDIC Insured FDIC Insured Partners Bank California 5.05 3/17/2025 70212YBN1 0.04 3/17/2023 3/17/2025 717 5.050 245,000.00 245,000.00 245,421.40 FDIC Insured FDIC Insured Plains Commerce Bank 2.55 5/30/2024 72651LCK8 0.04 5/30/2019 5/30/2024 426 2.550 245,000.00 245,000.00 237,997.90 FDIC Insured FDIC Insured Raiz Federal Credit Union 4.7 7/25/2025 75102EAB4 0.04 1/25/2023 7/25/2025 847 4.700 245,000.00 245,000.00 243,745.60 NCUA Insured NCUA Insured Raymond James Bank NA 1.8 11/8/2024 75472RAK7 0.04 11/8/2019 11/8/2024 588 1.800 245,000.00 245,000.00 232,997.45 FDIC Insured FDIC Insured RCB Bank OK 3.15 6/20/2023 74934YAH4 0.04 6/20/2018 6/20/2023 81 3.150 245,000.00 245,000.00 243,995.50 FDIC Insured FDIC Insured Resource One Credit Union 1.9 11/27/2024 76124YAB2 0.04 11/27/2019 11/27/2024 607 1.900 245,000.00 245,000.00 232,921.50 NCUA Insured NCUA Insured Sallie Mae Bank Salt Lake 1 7/14/2026 7954507A7 0.04 7/14/2021 7/14/2026 1,201 1.000 245,000.00 245,000.00 216,239.45 FDIC Insured FDIC Insured San Francisco Credit Union 4.35 2/3/2028 79772FAG1 0.04 2/3/2023 2/3/2028 1,770 4.350 245,000.00 245,000.00 239,651.65 NCUA Insured NCUA Insured Signature Federal Credit Union 4.4 1/31/2028 82671DAB3 0.04 1/31/2023 1/31/2028 1,767 4.400 245,000.00 245,000.00 240,180.85 NCUA Insured NCUA Insured Spokane Teachers Credit Union 5 11/24/2025 849061AA4 0.04 11/23/2022 11/24/2025 969 5.000 245,000.00 245,000.00 245,502.25 NCUA Insured NCUA Insured State Bank Of India 1.65 1/21/2027 856285E31 0.04 1/21/2022 1/21/2027 1,392 1.650 245,000.00 245,000.00 217,508.55 FDIC Insured FDIC Insured Sunset Science Park FCU 5 12/14/2023 86777TAA4 0.04 12/14/2022 12/14/2023 258 5.000 245,000.00 245,000.00 244,774.60 NCUA Insured NCUA Insured Synchrony Bank 3.2 5/20/2027 87165EW45 0.04 5/20/2022 5/20/2027 1,511 3.200 245,000.00 245,000.00 229,493.95 FDIC Insured FDIC Insured Third Fed Sav&Ln Clevlnd 1.95 11/25/2024 88413QCK2 0.04 11/25/2019 11/25/2024 605 1.950 245,000.00 245,000.00 233,259.60 FDIC Insured FDIC Insured Toyota Financial SGS BK 0.95 7/15/2026 89235MLC37 0.04 7/15/2021 7/15/2026 1,202 0.950 245,000.00 245,000.00 215,847.45 FDIC Insured FDIC Insured Trustone Financial Credit Union 5 12/14/2023 89841MAM9 0.04 12/14/2022 12/14/2023 258 5.000 245,000.00 245,000.00 244,772.15 NCUA Insured NCUA Insured UBS Bank USA 0.95 8/11/2026 90348JR93 0.04 8/11/2021 8/11/2026 1,229 0.950 245,000.00 245,000.00 214,999.75 FDIC Insured FDIC Insured Uncle Credit Union 5 1/25/2024 90307LAB0 0.04 1/25/2023 1/25/2024 300 5.000 245,000.00 245,000.00 244,730.50 NCUA Insured NCUA Insured University Credit Union 5.15 3/17/2025 914242AB8 0.04 3/17/2023 3/17/2025 717 5.150 245,000.00 245,000.00 245,886.90 NCUA Insured NCUA Insured

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Description CUSIP/Ticker % of Portfolio Settlement Date Maturity Date Days To Maturity YTM @ Cost Face Amount/Shares Cost Value Market Value Credit Rating 1 Credit Rating 2 Viriva Credit Union 1.85 11/27/2024 92823NAA9 0.04 11/27/2019 11/27/2024 607 1.850 245,000.00 245,000.00 232,725.50 FDIC Insured FDIC Insured Vystar Credit Union 4.45 10/7/2027 92891CCR1 0.04 10/7/2022 10/7/2027 1,651 4.450 245,000.00 245,000.00 240,734.55 FDIC Insured FDIC Insured Wells Fargo Bank 4.85 11/29/2024 9497633X2 0.04 11/28/2022 11/29/2024 609 4.850 245,000.00 245,000.00 244,399.75 NCUA Insured NCUA Insured Sub Total / Average CD | Negotiable | 30 % 3.96 857 3.544 22,785,000.00 22,785,000.00 22,125,974.75 Medium Term Note | 30 %
Adobe Inc 3.25 2/1/2025-24 00724FAC5 0.52 3/20/2020 2/1/2025 673 2.649 3,000,000.00 3,081,780.00 2,939,970.00 Moodys-A2 S&P-A+ Amazon 1.2 6/3/2027-27 023135BR6 0.52 6/8/2022 6/3/2027 1,525 3.530 3,000,000.00 2,682,967.17 2,663,340.00 Moodys-A1 S&P-AA Apple Inc 2.4 5/3/2023 037833AK6 0.52 4/5/2019 5/3/2023 33 2.690 3,000,000.00 2,966,580.00 2,994,480.00 Moodys-Aaa S&P-AA+ Apple Inc 2.4 5/3/2023 037833AK6 0.70 6/28/2019 5/3/2023 33 2.110 4,000,000.00 4,042,595.44 3,992,640.00 Moodys-Aaa S&P-AA+ Bank of America Corp 4.125 1/22/2024 06051GFB0 0.52 3/18/2020 1/22/2024 297 2.950 3,000,000.00 3,127,140.00 2,976,060.00 Moodys-A2 S&P-A- Bank of NY Mellon Corp 2.2 8/16/2023 06406FAD5 0.32 6/19/2019 8/16/2023 138 2.480 1,850,000.00 1,829,624.10 1,828,725.00 Moodys-A1 S&P-A Bank of NY Mellon Corp 3.4 5/15/2024-24 06406HCV9 0.52 3/18/2020 5/15/2024 411 2.615 3,000,000.00 3,092,190.00 2,948,880.00 Moodys-A1 S&P-A Berkshire Hathaway 2.3 3/15/2027-27 084664CZ2 0.52 3/15/2022 3/15/2027 1,445 2.300 3,000,000.00 3,000,000.00 2,840,340.00 Moodys-Aa2 S&P-AA BMW US Capital LLC 1.25 8/12/2026-26 05565EBW4 0.52 2/14/2022 8/12/2026 1,230 2.300 3,000,000.00 2,866,200.00 2,690,370.00 Moodys-A2 S&P-A Caterpillar Financial Services 1.7 1/8/2027 14913R2U0 0.52 3/11/2022 1/8/2027 1,379 2.430 3,000,000.00 2,900,826.00 2,742,630.00 Moodys-A2 S&P-A Coca-Cola Co 1.75 9/6/2024 191216CL2 0.18 3/25/2020 9/6/2024 525 2.592 1,036,000.00 999,574.24 1,006,422.20 Moodys-A1 S&P-A+ Estee Lauder Co Inc 2 12/1/2024 29736RAN0 0.35 3/20/2020 12/1/2024 611 2.537 2,000,000.00 1,952,680.00 1,929,420.00 Moodys-A1 S&P-A+ Home Depot Inc 3.75 2/15/2024-23 437076BC5 0.22 3/27/2020 2/15/2024 321 2.452 1,270,000.00 1,330,680.60 1,257,617.50 Moodys-A2 S&P-A Honeywell International 2.3 8/15/2024 438516BW5 0.35 3/25/2020 8/15/2024 503 2.430 2,000,000.00 1,989,214.00 1,941,980.00 Moodys-A2 S&P-A Intel Corp 3.4 3/25/2025-25 458140BP4 0.35 2/8/2021 3/25/2025 725 0.760 2,000,000.00 2,214,260.00 1,964,720.00 Moodys-A2 S&P-A John Deere Capital Corp 2.6 3/7/2024 24422EUX5 0.35 6/25/2019 3/7/2024 342 2.385 2,000,000.00 2,019,036.00 1,957,180.00 Moodys-A2 S&P-A John Deere Capital Corp 3.45 3/13/2025 24422EUE7 0.17 3/20/2020 3/13/2025 713 2.801 1,000,000.00 1,029,970.00 983,550.00 Moodys-A2 S&P-A JP Morgan Chase & Co 3.125 1/23/2025-24 46625HKC3 0.52 3/19/2020 1/23/2025 664 2.815 3,000,000.00 3,041,760.00 2,904,150.00 Moodys-A1 S&P-A- Mars INC 0.875 7/16/2026-26 571676AJ4 0.35 8/11/2021 7/16/2026 1,203 1.110 1,995,000.00 1,972,516.35 1,773,116.10 Moodys-A1 S&P-A Mass Institute of Tech 3.308 7/1/2026-14 575718AD3 0.52 1/21/2022 7/1/2026 1,188 1.780 3,000,000.00 3,195,000.00 2,913,420.00 Moodys-Aaa S&P-AAA Massmutual Global Funding 1.2 7/16/2026 57629WDE7 0.52 7/16/2021 7/16/2026 1,203 1.180 3,000,000.00 3,002,880.00 2,666,280.00 Moodys-Aa3 S&P-AA+ Mastercard Inc 2 3/3/2025 57636QAN4 0.85 3/26/2020 3/3/2025 703 2.500 4,883,000.00 4,770,251.53 4,671,224.29 Moodys-Aa3 S&P-A+ Met Life Global 1.875 1/11/2027 59217GER6 0.35 2/8/2022 1/11/2027 1,382 2.350 2,000,000.00 1,956,047.61 1,787,160.00 Moodys-Aa3 S&P-AA- Met Tower Global Funding 1.25 9/14/2026 58989V2D5 0.21 10/25/2021 9/14/2026 1,263 1.530 1,228,000.00 1,211,866.41 1,089,714.92 Moodys-Aa3 S&P-AA- Microsoft Corp 2 8/8/2023-23 594918BQ6 0.53 12/6/2018 8/8/2023 130 3.296 3,050,000.00 2,880,115.00 3,019,164.50 Moodys-Aaa S&P-AAA Nestle Holdings Inc 1.15 1/14/2027-26 641062AV6 0.35 2/8/2022 1/14/2027 1,385 2.230 2,000,000.00 1,899,620.00 1,779,400.00 Moodys-Aa3 S&P-AA- New York Life Global FDG 0.85 1/15/2026 64952WDW0 0.52 7/1/2021 1/15/2026 1,021 1.100 3,000,000.00 2,966,880.00 2,703,330.00 Moodys-Aaa S&P-AA+ Nike Inc 2.25 5/1/2023-23 654106AC7 0.24 5/15/2018 5/1/2023 31 3.208 1,401,000.00 1,339,885.58 1,397,847.75 Moodys-A1 S&P-AA- Northwest Mutual Global 1.75 1/11/2027 66815L2F5 0.35 2/14/2022 1/11/2027 1,382 2.300 2,000,000.00 1,949,204.75 1,800,620.00 Moodys-Aaa S&P-AA+ Pres & Fellows of Harvard 2.3 10/1/2023 740816AJ2 0.17 5/15/2019 10/1/2023 184 2.381 1,000,000.00 996,640.00 987,130.00 Moodys-Aaa S&P-AAA Pres & Fellows of Harvard 2.3 10/1/2023 740816AJ2 0.35 5/16/2019 10/1/2023 184 2.385 2,000,000.00 1,992,950.00 1,974,260.00 Moodys-Aaa S&P-AAA Pricoa Global Funding 1.2 9/1/2026 74153WCP2 0.35 9/23/2021 9/1/2026 1,250 1.180 2,000,000.00 2,001,900.00 1,797,880.00 Moodys-Aa3 S&P-AA- Pricoa Global Funding 1.2 9/1/2026 74153WCP2 0.17 10/4/2021 9/1/2026 1,250 1.300 1,000,000.00 995,256.00 898,940.00 Moodys-Aa3 S&P-AA- Qualcomm Inc 3.45 5/20/2025-25 747525AF0 0.17 3/11/2022 5/20/2025 781 2.477 974,000.00 1,002,879.10 956,029.70 Moodys-A2 S&P-A Qualcomm Inc 3.45 5/20/2025-25 747525AF0 0.47 3/11/2022 5/20/2025 781 2.477 2,700,000.00 2,780,055.00 2,650,185.00 Moodys-A2 S&P-A State Street Corp 3.55 8/18/2025 857477AT0 0.52 3/11/2022 8/18/2025 871 2.560 3,000,000.00 3,097,050.00 2,891,850.00 Moodys-A1 S&P-A Suntrust Bank 3.2 4/1/2024-24 86787EBC0 0.52 12/11/2019 4/1/2024 367 2.198 3,000,000.00 3,122,760.00 2,926,320.00 Moodys-A2 S&P-A Target Corp 1.95 1/15/2027-22 87612EBM7 0.52 1/31/2022 1/15/2027 1,386 1.950 3,000,000.00 3,000,000.00 2,773,170.00 Moodys-A2 S&P-A Texas Instruments Inc 2.25 5/1/2023 882508AW4 0.52 6/19/2019 5/1/2023 31 2.174 3,000,000.00 3,008,310.00 2,993,250.00 Moodys-Aa3 S&P-A+ TJX Cos Inc 2.5 5/15/2023 872540AP4 0.35 3/25/2020 5/15/2023 45 2.600 2,000,000.00 1,993,976.00 1,994,140.00 Moodys-A2 S&P-A Toyota Motor Credit 3.35 1/8/2024 89236TFS9 0.35 1/8/2019 1/8/2024 283 3.356 2,000,000.00 1,999,460.00 1,974,540.00 Moodys-A1 S&P-A+ Unilever Capital Corp 3.375 3/22/2025-25 904764BB2 0.09 3/24/2020 3/22/2025 722 2.798 500,000.00 513,360.00 487,340.00 Moodys-A1 S&P-A+ Unilever Capital Corp 3.375 3/22/2025-25 904764BB2 0.26 3/24/2020 3/22/2025 722 2.752 1,500,000.00 1,543,305.00 1,462,020.00 Moodys-A1 S&P-A+ US Bancorp 2.4 7/30/2024 91159HHX1 0.52 7/31/2019 7/30/2024 487 2.380 3,000,000.00 3,002,790.00 2,883,810.00 Moodys-A2 S&P-A+ US Bancorp 3.375 2/5/2024 91159HHV5 0.17 4/15/2019 2/5/2024 311 2.844 1,000,000.00 1,023,651.00 980,920.00 Moodys-A2 S&P-A+

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Description CUSIP/Ticker % of Portfolio Settlement Date Maturity Date Days To Maturity YTM @ Cost Face Amount/Shares Cost Value Market Value Credit Rating 1 Credit Rating 2 Walmart Inc 2.85 7/8/2024 931142EL3 0.52 3/24/2020 7/8/2024 465 2.667 3,000,000.00 3,022,020.00 2,933,130.00 Moodys-Aa2 S&P-AA Walt Disney Company 1.75 8/30/2024 254687FK7 0.52 9/12/2019 8/30/2024 518 2.016 3,000,000.00 2,962,530.00 2,887,560.00 Moodys-A2 S&P-BBB+ Sub Total / Average Medium Term Note | 30 % 19.02 710 2.336 109,387,000.00 109,370,236.88 104,616,226.96 Money Market | 20 %
Morgan Stanley Institutional Liquidity Fund - Gov. 61747C319 18.33 7/29/2022 N/A 1 4.560 105,426,656.81 105,426,656.81 105,426,656.81 Moodys-Aaa S&P-AAA Sub Total / Average Money Market | 20 % 18.33 1 4.560 105,426,656.81 105,426,656.81 105,426,656.81 072024XD9 0.14 6/16/2022 4/1/2027 1,462 4.200 815,000.00 718,023.15 730,052.55 Moodys-Aa3 S&P-AA 088006KA8 0.31 3/14/2022 6/1/2026 1,158 2.280 1,800,000.00 1,718,478.00 1,627,056.00 NR S&P-AA+ 12082SDN1 0.11 11/10/2022 8/1/2026 1,219 5.050 620,000.00 543,324.60 564,727.00 Moodys-Aa2 None 13032UXM5 0.17 11/4/2020 6/1/2025 793 0.952 1,000,000.00 1,000,000.00 921,940.00 Moodys-Aa3 S&P-AA- 13032UXP8 0.22 6/7/2022 6/1/2027 1,523 3.620 1,255,000.00 1,127,178.25 1,102,329.25 Moodys-Aa3 S&P-AA- 13032UC30 0.17 4/7/2022 6/1/2026 1,158 3.044 1,000,000.00 1,000,000.00 952,990.00 Moodys-Aa3 S&P-AA- 13034AL65 0.09 12/17/2020 10/1/2025 915 0.765 500,000.00 500,000.00 458,385.00 NR S&P-AAA 13077DMM1 0.09 6/14/2022 11/1/2026 1,311 3.900 500,000.00 444,875.00 447,890.00 Moodys-Aa2 S&P-AA- 13077DQE5 0.09 6/16/2022 11/1/2026 1,311 4.171 540,000.00 475,200.00 483,791.40 Moodys-Aa2 S&P-AA- 20775C6B5 0.14 10/29/2019 5/15/2024 411 2.047 800,000.00 800,000.00 773,408.00 Moodys-Aaa S&P-AAA 20775HDA8 0.28 11/10/2020 5/15/2023 45 0.650 1,605,000.00 1,605,000.00 1,600,377.60 Moodys-Aaa S&P-AAA 34153QUD6 0.52 10/26/2020 6/1/2025 793 0.620 3,000,000.00 2,990,490.00 2,766,150.00 Moodys-Aaa S&P-AAA 419792G26 0.52 6/15/2022 8/1/2026 1,219 3.624 3,000,000.00 2,732,940.00 2,723,940.00 Moodys-Aa2 S&P-AA+ 542424VY9 0.37 3/24/2020 5/15/2024 411 2.401 2,135,000.00 2,268,843.15 2,171,892.80 Moodys-Aa2 NR 542424WF9 0.17 3/24/2020 5/15/2023 45 2.852 1,000,000.00 1,064,130.00 1,002,170.00 Moodys-Aa2 NR 574193VR6 0.52 6/22/2022 6/1/2026 1,158 3.351 3,000,000.00 2,977,950.00 2,901,300.00 Moodys-Aaa S&P-AAA 576000ZF3 0.31 4/25/2022 8/15/2026 1,233 3.300 1,800,000.00 1,644,678.00 1,618,092.00 Moodys-Aa2 S&P-AA+ 576004HD0 0.35 8/30/2022 7/15/2027 1,567 3.680 2,000,000.00 2,000,000.00 1,956,880.00 Moodys-Aa1 NR 649791PS3 0.52 5/4/2022 2/15/2027 1,417 3.309 3,000,000.00 2,874,990.00 2,785,230.00 Moodys-Aa1 S&P-AA+ 64990FD50 0.13 6/23/2021 3/15/2026 1,080 1.187 750,000.00 750,000.00 685,440.00 NR S&P-AA+ 64985TBB6 0.35 4/22/2022 3/15/2027 1,445 3.500 2,000,000.00 1,897,260.00 1,852,200.00 Moodys-Aa1 NR 6500357E2 0.20 4/6/2022 3/15/2027 1,445 3.120 1,125,000.00 1,126,518.75 1,079,505.00 Moodys-Aa1 NR 64990FD68 0.41 3/18/2022 3/15/2027 1,445 2.740 2,365,000.00 2,233,198.55 2,131,432.60 NR S&P-AA+ 64972EVX4 0.13 6/9/2022 5/1/2026 1,127 3.662 770,000.00 700,700.00 688,649.50 Moodys-Aa2 S&P-AA+ 64971XLR7 0.19 6/24/2021 5/1/2026 1,127 1.100 1,100,000.00 1,152,349.00 1,026,091.00 Moodys-Aa1 S&P-AAA 672319CF5 0.25 1/27/2021 12/15/2025 990 1.168 1,430,000.00 1,667,380.00 1,427,225.80 Moodys-Aa1 S&P-AA 68607V3L7 0.13 5/4/2022 4/1/2027 1,462 3.321 750,000.00 750,000.00 723,600.00 Moodys-Aa2 S&P-AAA 738850SX5 0.21 10/16/2019 8/1/2024 489 2.042 1,235,000.00 1,235,000.00 1,193,429.90 NR S&P-AA- 79730CJL9 0.44 8/26/2022 8/1/2027 1,584 3.737 2,520,000.00 2,324,851.20 2,282,565.60 Moodys-Aa2 NR 79766DNX3 0.08 2/26/2019 1/1/2024 276 3.038 450,000.00 450,000.00 443,898.00 Moodys-A1 S&P-A 79770GJC1 0.52 12/17/2021 8/1/2026 1,219 1.550 3,000,000.00 3,041,430.00 2,713,770.00 NR S&P-AA 802498ZA6 0.14 4/20/2022 8/1/2026 1,219 3.039 810,000.00 739,287.00 725,379.30 Moodys-Aa1 S&P-AA+ 83789TBQ1 0.17 12/18/2019 10/1/2024 550 2.224 1,000,000.00 1,000,000.00 964,080.00 NR S&P-AA- 13032UXL7 0.10 11/4/2020 6/1/2024 428 0.752 600,000.00 600,000.00 572,022.00 Moodys-Aa3 S&P-AA- 8805573E1 0.52 5/9/2022 9/15/2026 1,264 3.450 3,000,000.00 2,766,420.00 2,714,250.00 Moodys-Aa1 S&P-AA+ 88213AHK4 0.52 7/17/2018 5/15/2023 45 3.000 3,000,000.00 2,964,300.00 2,992,830.00 Moodys-Aaa S&P-AAA 8827237M5 0.52 11/1/2018 10/1/2023 184 3.106 3,000,000.00 2,951,460.00 2,968,350.00 Moodys-Aaa S&P-AAA 91412GXC4 0.33 1/28/2022 5/15/2026 1,141 1.830 1,900,000.00 2,015,577.00 1,851,740.00 Moodys-Aa2 S&P-AA 91412HGF4 0.52 5/16/2022 5/15/2027 1,506 3.600 3,000,000.00 2,689,140.00 2,669,970.00 Moodys-Aa2 S&P-AA 917567GA1 0.15 5/4/2022 12/15/2026 1,355 3.550 890,000.00 809,624.10 802,673.20 Moodys-Aa2 S&P-AA 917567GA1 0.17 5/20/2022 12/15/2026 1,355 3.750 965,000.00 871,009.00 870,314.20 Moodys-Aa2 S&P-AA Municipal Bonds | 30 %
Bay Area Toll Authority 1.433 4/1/2027-21
Beverly Hills Public Financing Authority 1.147 6/1
Burbank CA Unified School District 1.367 8/1/2026
Ca State Health Facilities0.952 6/1/2025-20
Ca State Health Facilities Financing Authority 1.3
Ca State Health Facilities Financing Authority 3.0
Ca State Infrastructure & Econ Dev Bank Revenu
CA State University Revenue 1.138 11/1/2026-20
CA State University Revenue 1.142 11/1/2026-21
Connecticut Housing 2.047 5/15/2024
Connecticut State Housing Finance Authority 0.65 5
Florida State Board of Public Education 0.55 6/1/2
Hawaii State 1.283 8/1/2026-21
Long Beach 4 5/15/2024
Long Beach 5 5/15/2023
Maryland State 3.15 6/1/2026
Massachusetts State School Building Authority 1.13
Massachusetts State Special Obligation Revenue 3.6
New York State 2.36 2/15/2027-19
New York State Dormitory Authority 1.187 3/15/2026
New York Urban Development 2.35 3/15/2027-19
New York Urban Development 3.15 3/15/2027-17
NY Dormitory Authority 1.538 3/15/2027-21
NY Housing Development 1.161 5/1/2026
NYC Transitional Finance Authority 2.11 5/1/2026
Oakland California Pension 4.676 12/15/2025-24
Oregon State Lottery Revenue 3.321 4/1/2027-22
Poway Unif SD 2.042 8/1/2024
San Diego Public Facilities Financing Authority 2.

San Francisco CA 3.038 1/1/2024
San Francisco Redev Agy Successor Agy 1.861 8/1/20
Santa Monica-Malibu Unified School District 0.849
South Gate Utility Authority 2.224 10/1/2024
State of California 0.752 6/1/2024-20
Tennessee State School Bond Authority 1.515 9/15/2
Texas A&M University 2.734 5/15/2023
Texas State 2.749 10/1/2023
Univ of California Revenues 3.309 5/15/2026-21
University of California CA Revenues 1.316 5/15/20
Utah State Transit Authority 1.411 12/15/2026-21
Utah State Transit Authority 1.411 12/15/2026-21
West Hollywood CA Lease Revenue 1.95 4/1/2027-20
95332RDK2 0.16 5/25/2022 4/1/2027 1,462 3.800 895,000.00 822,263.35 813,599.75 NR S&P-AA+

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Description CUSIP/Ticker % of Portfolio Settlement Date Maturity Date Days To Maturity YTM @ Cost Face Amount/Shares Cost Value Market Value Credit Rating 1 Credit Rating 2 Wisconsin State 2.141 5/1/2027-27 97705MZM0 0.27 1/30/2023 5/1/2027 1,492 3.777 1,525,000.00 1,427,814.94 1,406,324.50 Moodys-Aa1 S&P-AA+ Wisconsin State 2.141 5/1/2027-27 97705MZD0 0.26 1/30/2023 5/1/2027 1,492 3.777 1,475,000.00 1,381,001.33 1,341,969.75 Moodys-Aa1 S&P-AA+ Sub Total / Average Municipal Bonds | 30 % 11.98 1,061 2.816 68,925,000.00 66,852,684.37 64,529,911.70 Supranational Obligations | 15 %
IADB 0.875 4/20/2026 4581X0DV7 0.52 4/20/2021 4/20/2026 1,116 0.940 3,000,000.00 2,990,490.00 2,740,470.00 Moodys-Aaa S&P-AAA IBRD Supranational 0.6 2/18/2026-22 45905U5Y6 0.52 2/18/2021 2/18/2026 1,055 0.600 3,000,000.00 3,000,000.00 2,548,770.00 Moodys-Aaa S&P-AAA IBRD Supranational 0.65 2/10/2026-21 459058JS3 0.52 2/10/2021 2/10/2026 1,047 0.650 3,000,000.00 3,000,000.00 2,701,410.00 Moodys-Aaa S&P-AAA Inter-American Devel BK 1.5 1/13/2027 4581X0EB0 0.52 1/13/2022 1/13/2027 1,384 1.530 3,000,000.00 2,995,680.00 2,752,500.00 Moodys-Aaa S&P-AAA International Finance Corp 2.65 6/24/2024 45950VRF5 0.52 8/19/2022 6/24/2024 451 3.451 3,000,000.00 2,957,279.76 2,929,950.00 Moodys-Aaa S&P-AAA Intl Bk Recon & Develop 0.875 7/15/2026 459058JX2 0.52 11/16/2021 7/15/2026 1,202 1.200 3,000,000.00 2,955,888.00 2,728,140.00 Moodys-Aaa S&P-AAA Intl Bk Recon & Develop 4 9/9/2027-24 45906M3G4 0.52 9/9/2022 9/9/2027 1,623 4.000 3,000,000.00 3,000,000.00 2,955,450.00 Moodys-Aaa S&P-AAA Intl Finance Corp 0.75 10/8/2026 45950KCX6 0.52 1/12/2022 10/8/2026 1,287 1.550 3,000,000.00 2,890,732.98 2,699,430.00 Moodys-Aaa S&P-AAA Sub Total / Average Supranational Obligations | 15 % 4.17 1,146 1.740 24,000,000.00 23,790,070.74 22,056,120.00 US Agency | 90 %
FFCB 1.54 11/30/2026-22 3133ENFN5 0.52 11/30/2021 11/30/2026 1,340 1.540 3,000,000.00 3,000,000.00 2,737,650.00 Moodys-Aaa S&P-AA+ FFCB 1.78 1/26/2027-23 3133ENLZ1 0.52 1/26/2022 1/26/2027 1,397 1.780 3,000,000.00 3,000,000.00 2,763,480.00 Moodys-Aaa S&P-AA+
FFCB 4.89 12/28/2023-23 3133EN5G1 0.52 12/29/2022 12/28/2023 272 4.916 3,000,000.00 2,999,250.00 2,992,830.00 Moodys-Aaa S&P-AA+ FFCB 5 12/7/2023-23 3133EN3R9 0.52 12/7/2022 12/7/2023 251 5.000 3,000,000.00 3,000,000.00 2,994,750.00 Moodys-Aaa S&P-AA+ FFCB 5.33 12/20/2027-23 3133EN4K3 0.52 12/20/2022 12/20/2027 1,725 5.330 3,000,000.00 3,000,000.00 2,988,570.00 Moodys-Aaa S&P-AA+ FFCB 5.5 12/20/2027-23 3133EN4L1 0.52 12/20/2022 12/20/2027 1,725 5.523 3,000,000.00 2,997,000.00 2,988,330.00 Moodys-Aaa S&P-AA+ FHLB 0 4/17/2023 313384EL9 0.52 1/17/2023 4/17/2023 17 4.638 3,000,000.00 2,965,612.50 2,994,750.00 Moodys-Aaa S&P-AA+ FHLB 0 4/28/2023 313384EX3 0.52 12/30/2022 4/28/2023 28 4.589 3,000,000.00 2,955,176.67 2,990,610.00 Moodys-Aaa S&P-AA+ FHLB 0 6/12/2023 313384GU7 0.52 1/13/2023 6/12/2023 73 4.721 3,000,000.00 2,942,124.99 2,972,760.00 Moodys-Aaa S&P-AA+ FHLB 0 6/30/2023 313384HN2 0.52 8/26/2022 6/30/2023 91 3.365 3,000,000.00 2,916,583.32 2,965,800.00 Moodys-Aaa S&P-AA+ FHLB 0.54 10/29/2025-21 3130AKCT1 0.52 11/6/2020 10/29/2025 943 0.571 3,000,000.00 2,995,500.00 2,744,730.00 Moodys-Aaa S&P-AA+ FHLB 0.6 1/28/2026-21 3130AKPC4 0.52 1/28/2021 1/28/2026 1,034 0.600 3,000,000.00 3,000,000.00 2,723,010.00 Moodys-Aaa S&P-AA+ FHLB 0.625 1/22/2026-21 3130AKQ74 0.52 1/22/2021 1/22/2026 1,028 0.625 3,000,000.00 3,000,000.00 2,726,100.00 Moodys-Aaa S&P-AA+ FHLB 0.65 2/26/2026-21 3130AKZ25 0.52 2/26/2021 2/26/2026 1,063 0.650 3,000,000.00 3,000,000.00 2,718,930.00 Moodys-Aaa S&P-AA+ FHLB 0.72 7/14/2025-23 3130AN4N7 0.17 3/3/2023 7/14/2025 836 5.102 1,000,000.00 903,560.00 926,640.00 Moodys-Aaa S&P-AA+ FHLB 0.75 2/24/2026-21 3130ALCV4 0.52 2/24/2021 2/24/2026 1,061 0.750 3,000,000.00 3,000,000.00 2,727,360.00 Moodys-Aaa S&P-AA+ FHLB 0.8 3/16/2026-21 3130ALDN1 0.52 3/16/2021 3/16/2026 1,081 0.800 3,000,000.00 3,000,000.00 2,726,700.00 Moodys-Aaa S&P-AA+ FHLB 0.85 5/27/2026-22 3130AMLF7 0.52 5/27/2021 5/27/2026 1,153 0.850 3,000,000.00 3,000,000.00 2,731,350.00 Moodys-Aaa S&P-AA+ FHLB 0.875 3/23/2026-21 3130ALGC2 0.52 3/23/2021 3/23/2026 1,088 0.875 3,000,000.00 3,000,000.00 2,731,350.00 Moodys-Aaa S&P-AA+ FHLB 0.9 8/26/2026-22 3130ANLZ1 0.52 8/26/2021 8/26/2026 1,244 0.900 3,000,000.00 3,000,000.00 2,702,550.00 Moodys-Aaa S&P-AA+ FHLB 0.92 9/30/2026-22 3130AP2P9 0.52 9/30/2021 9/30/2026 1,279 0.920 3,000,000.00 3,000,000.00 2,696,310.00 Moodys-Aaa S&P-AA+ FHLB 1 10/14/2026-22 3130AP6U4 0.52 10/14/2021 10/14/2026 1,293 1.000 3,000,000.00 3,000,000.00 2,701,140.00 Moodys-Aaa S&P-AA+ FHLB 1.01 9/23/2026-22 3130ANW71 0.52 9/23/2021 9/23/2026 1,272 1.010 3,000,000.00 3,000,000.00 2,706,030.00 Moodys-Aaa S&P-AA+ FHLB 1.05 6/26/2026-21 3130AMWT5 0.52 6/30/2021 6/26/2026 1,183 1.064 3,000,000.00 2,997,900.00 2,724,450.00 Moodys-Aaa S&P-AA+ FHLB 1.08 10/14/2026-22 3130AP6Z3 0.52 10/14/2021 10/14/2026 1,293 1.080 3,000,000.00 3,000,000.00 2,708,760.00 Moodys-Aaa S&P-AA+ FHLB 1.1 10/13/2026-22 3130APB87 0.52 10/14/2021 10/13/2026 1,292 1.167 3,000,000.00 2,990,250.00 2,710,830.00 Moodys-Aaa S&P-AA+ FHLB 1.1 10/21/2026-22 3130APAY1 0.38 10/21/2021 10/21/2026 1,300 1.121 2,200,000.00 2,197,800.00 1,986,820.00 Moodys-Aaa S&P-AA+ FHLB 1.125 7/15/2026-21 3130AMYP1 0.52 7/15/2021 7/15/2026 1,202 1.125 3,000,000.00 3,000,000.00 2,731,410.00 Moodys-Aaa S&P-AA+ FHLB 1.15 10/26/2026-21 3130AP4H5 0.52 10/26/2021 10/26/2026 1,305 1.150 3,000,000.00 3,000,000.00 2,713,110.00 Moodys-Aaa S&P-AA+ FHLB 1.4 11/16/2026-22 3130APL37 0.52 11/16/2021 11/16/2026 1,326 1.400 3,000,000.00 3,000,000.00 2,726,730.00 Moodys-Aaa S&P-AA+ FHLB 1.45 11/23/2026-21 3130APPW9 0.52 11/23/2021 11/23/2026 1,333 1.450 3,000,000.00 3,000,000.00 2,730,090.00 Moodys-Aaa S&P-AA+ FHLB 1.5 11/23/2026-21 3130APVJ1 0.52 11/23/2021 11/23/2026 1,333 1.500 3,000,000.00 3,000,000.00 2,734,860.00 Moodys-Aaa S&P-AA+ FHLB 1.5 11/23/2026-21 3130APQB4 0.52 11/23/2021 11/23/2026 1,333 1.500 3,000,000.00 3,000,000.00 2,734,860.00 Moodys-Aaa S&P-AA+ FHLB 1.55 12/22/2026-22 3130AQ5C3 0.52 12/22/2021 12/22/2026 1,362 1.550 3,000,000.00 3,000,000.00 2,738,820.00 Moodys-Aaa S&P-AA+ FHLB 1.6 12/17/2026-22 3130APXT7 0.52 12/17/2021 12/17/2026 1,357 1.600 3,000,000.00 3,000,000.00 2,744,370.00 Moodys-Aaa S&P-AA+

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Description CUSIP/Ticker % of Portfolio Settlement Date Maturity Date Days To Maturity YTM @ Cost Face Amount/Shares Cost Value Market Value Credit Rating 1 Credit Rating 2 FHLB 1.61 12/30/2026-22 3130AQ5P4 0.52 12/30/2021 12/30/2026 1,370 1.610 3,000,000.00 3,000,000.00 2,743,560.00 Moodys-Aaa S&P-AA+ FHLB 1.625 12/30/2026-22 3130AQAB9 0.52 12/30/2021 12/30/2026 1,370 1.625 3,000,000.00 3,000,000.00 2,745,000.00 Moodys-Aaa S&P-AA+ FHLB 1.8 1/14/2027 3130AQBS1 0.52 1/14/2022 1/14/2027 1,385 1.800 3,000,000.00 3,000,000.00 2,766,930.00 Moodys-Aaa S&P-AA+ FHLB 1.85 2/17/2027-22 3130AQNS8 0.52 2/17/2022 2/17/2027 1,419 1.850 3,000,000.00 3,000,000.00 2,766,390.00 Moodys-Aaa S&P-AA+ FHLB 1.9 2/17/2027-22 3130AQPE7 0.52 2/17/2022 2/17/2027 1,419 1.900 3,000,000.00 3,000,000.00 2,771,130.00 Moodys-Aaa S&P-AA+ FHLB 1.9 2/23/2027-23 3130AQTC7 0.52 2/23/2022 2/23/2027 1,425 1.900 3,000,000.00 3,000,000.00 2,770,380.00 Moodys-Aaa S&P-AA+ FHLB 2 2/25/2027-22 3130AQRH8 0.52 2/25/2022 2/25/2027 1,427 2.000 3,000,000.00 3,000,000.00 2,779,530.00 Moodys-Aaa S&P-AA+ FHLB 2 2/25/2027-22 3130AQRQ8 0.52 2/25/2022 2/25/2027 1,427 2.000 3,000,000.00 3,000,000.00 2,779,530.00 Moodys-Aaa S&P-AA+ FHLB 2.05 2/25/2027-22 3130AQUY7 0.52 2/25/2022 2/25/2027 1,427 2.050 3,000,000.00 3,000,000.00 2,783,970.00 Moodys-Aaa S&P-AA+ FHLB 2.14 2/25/2027-22 3130AQW58 0.42 2/25/2022 2/25/2027 1,427 2.203 2,400,000.00 2,392,800.00 2,233,824.00 Moodys-Aaa S&P-AA+ FHLB 2.2 3/29/2027-23 3130ARB34 0.52 3/29/2022 3/29/2027 1,459 2.200 3,000,000.00 3,000,000.00 2,797,410.00 Moodys-Aaa S&P-AA+ FHLB 2.2 3/4/2027-22 3130AQVH3 0.52 3/4/2022 3/4/2027 1,434 2.200 3,000,000.00 3,000,000.00 2,799,930.00 Moodys-Aaa S&P-AA+ FHLB 2.25 3/4/2027-22 3130AQX65 0.52 3/4/2022 3/4/2027 1,434 2.250 3,000,000.00 3,000,000.00 2,804,460.00 Moodys-Aaa S&P-AA+ FHLB 2.3 3/29/2027-23 3130ARBF7 0.52 3/29/2022 3/29/2027 1,459 2.300 3,000,000.00 3,000,000.00 2,806,560.00 Moodys-Aaa S&P-AA+ FHLB 2.5 2/25/2027-22 3130AQYG2 0.52 2/28/2022 2/25/2027 1,427 2.500 3,000,000.00 3,000,000.00 2,824,230.00 Moodys-Aaa S&P-AA+ FHLB 2.5 3/10/2027-22 3130AQYY3 0.52 3/10/2022 3/10/2027 1,440 2.500 3,000,000.00 3,000,000.00 2,826,270.00 Moodys-Aaa S&P-AA+ FHLB 2.6 3/25/2027-22 3130AR7E5 0.52 3/25/2022 3/25/2027 1,455 2.600 3,000,000.00 3,000,000.00 2,832,810.00 Moodys-Aaa S&P-AA+ FHLB 2.75 3/25/2027-22 3130ARAB7 0.52 3/30/2022 3/25/2027 1,455 2.750 3,000,000.00 3,000,000.00 2,845,320.00 Moodys-Aaa S&P-AA+ FHLB 2.75 3/8/2027-22 3130AQZT3 0.52 3/8/2022 3/8/2027 1,438 2.750 3,000,000.00 3,000,000.00 2,846,880.00 Moodys-Aaa S&P-AA+ FHLB 3 3/25/2027-22 3130ARDV0 0.52 4/8/2022 3/25/2027 1,455 3.000 3,000,000.00 3,000,000.00 2,865,210.00 Moodys-Aaa S&P-AA+ FHLB 3 4/20/2026-22 3130ARGN5 0.52 6/2/2022 4/20/2026 1,116 3.304 3,000,000.00 2,967,000.00 2,882,460.00 Moodys-Aaa S&P-AA+ FHLB 3 4/21/2027-22 3130ARGE5 0.52 4/21/2022 4/21/2027 1,482 3.000 3,000,000.00 3,000,000.00 2,865,180.00 Moodys-Aaa S&P-AA+ FHLB 3.5 4/28/2027-22 3130ARPB1 0.52 4/28/2022 4/28/2027 1,489 3.500 3,000,000.00 3,000,000.00 2,901,270.00 Moodys-Aaa S&P-AA+ FHLB 3.75 5/26/2027-23 3130ARYT2 0.52 5/26/2022 5/26/2027 1,517 3.750 3,000,000.00 3,000,000.00 2,914,800.00 Moodys-Aaa S&P-AA+ FHLB 4.875 6/14/2024 3130ATVC8 0.54 1/30/2023 6/14/2024 441 4.700 3,100,000.00 3,106,692.90 3,111,439.00 Moodys-Aaa S&P-AA+ FHLB 5 9/14/2027 3130AT3P0 0.52 9/28/2022 9/14/2027 1,628 5.000 3,000,000.00 3,000,000.00 2,972,790.00 Moodys-Aaa S&P-AA+ FHLB 5.05 2/22/2028-24 3130AUTL8 0.52 2/22/2023 2/22/2028 1,789 5.050 3,000,000.00 3,000,000.00 2,989,590.00 Moodys-Aaa S&P-AA+ FHLB 5.55 3/8/2028-24 3130AV3V2 0.52 3/8/2023 3/8/2028 1,804 5.550 3,000,000.00 3,000,000.00 3,013,260.00 Moodys-Aaa S&P-AA+ FHLB 6.2 3/21/2028-23 3130AV4H2 0.52 3/21/2023 3/21/2028 1,817 6.200 3,000,000.00 3,000,000.00 3,002,550.00 Moodys-Aaa S&P-AA+ FHLB Step 8/12/2025-23 3130AKV78 0.17 3/3/2023 8/12/2025 865 5.102 1,000,000.00 901,205.00 925,400.00 Moodys-Aaa S&P-AA+ FHLMC 0.375 9/23/2025 3137EAEX3 0.52 2/16/2022 9/23/2025 907 1.885 3,000,000.00 2,842,922.59 2,740,830.00 Moodys-Aaa S&P-AA+ FHLMC 0.625 10/27/2025-21 3134GW3X2 0.52 10/27/2020 10/27/2025 941 0.625 3,000,000.00 3,000,000.00 2,751,270.00 Moodys-Aaa S&P-AA+ FHLMC 0.65 11/26/2025-21 3134GXFA7 0.52 11/30/2020 11/26/2025 971 0.650 3,000,000.00 3,000,000.00 2,749,140.00 Moodys-Aaa S&P-AA+ FHLMC 0.7 6/10/2025-23 3134GVB56 0.17 3/3/2023 6/10/2025 802 5.102 1,000,000.00 906,770.00 928,550.00 Moodys-Aaa S&P-AAA FHLMC 4 5/17/2027-22 3134GXSH8 0.52 5/17/2022 5/17/2027 1,508 4.000 3,000,000.00 3,000,000.00 2,929,710.00 Moodys-Aaa S&P-AA+ FHLMC 5.15 2/14/2025-24 3134GYJ29 0.52 2/14/2023 2/14/2025 686 5.150 3,000,000.00 3,000,000.00 2,998,800.00 Moodys-Aaa S&P-AA+ FHLMC 5.5 3/13/2025-24 3134GYML3 0.52 3/13/2023 3/13/2025 713 5.500 3,000,000.00 3,000,000.00 3,025,650.00 Moodys-Aaa S&P-AA+ FHLMC 5.65 9/15/2025-23 3134GYKY7 0.52 3/15/2023 9/15/2025 899 5.650 3,000,000.00 3,000,000.00 3,012,360.00 Moodys-Aaa S&P-AA+ FNMA 0.375 8/25/2025 3135GO5X7 0.52 3/15/2022 8/25/2025 878 2.050 3,000,000.00 2,833,704.00 2,746,620.00 Moodys-Aaa S&P-AA+ FNMA 0.56 11/17/2025-22 3135GA2Z3 0.52 11/17/2020 11/17/2025 962 0.560 3,000,000.00 3,000,000.00 2,744,400.00 Moodys-Aaa S&P-AA+ FNMA 0.65 11/18/2025-22 3135GA4P3 0.52 11/18/2020 11/18/2025 963 0.650 3,000,000.00 3,000,000.00 2,750,820.00 Moodys-Aaa S&P-AA+ Sub Total / Average US Agency | 90 % 38.37 1,187 2.473 220,700,000.00 219,811,851.97 207,283,053.00 US Treasury | No Limit
T-Note 0.25 7/31/2025 91282CAB7 0.52 3/29/2022 7/31/2025 853 2.605 3,000,000.00 2,775,234.38 2,754,960.00 Moodys-Aaa S&P-AA+ T-Note 0.5 5/31/2027 912828ZS2 0.52 6/14/2022 5/31/2027 1,522 3.277 3,000,000.00 2,621,250.00 2,632,500.00 Moodys-Aaa S&P-AA+ T-Note 1.5 8/15/2026 9128282A7 0.52 6/15/2022 8/15/2026 1,233 3.603 3,000,000.00 2,757,773.44 2,784,480.00 Moodys-Aaa S&P-AA+ T-Note 2 8/15/2025 912828K74 0.52 4/7/2022 8/15/2025 868 2.752 3,000,000.00 2,928,046.88 2,870,040.00 Moodys-Aaa S&P-AA+ T-Note 2.375 5/15/2027 912828X88 0.52 6/13/2022 5/15/2027 1,506 3.099 3,000,000.00 2,901,562.50 2,849,430.00 Moodys-Aaa S&P-AA+ T-Note 2.75 6/30/2025 912828XZ8 0.52 3/22/2022 6/30/2025 822 2.351 3,000,000.00 3,037,500.00 2,919,600.00 Moodys-Aaa S&P-AA+ T-Note 2.875 6/15/2025 91282CEU1 0.52 8/23/2022 6/15/2025 807 3.400 3,000,000.00 2,957,988.27 2,929,230.00 Moodys-Aaa S&P-AA+

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Description CUSIP/Ticker % of Portfolio Settlement Date Maturity Date Days To Maturity YTM @ Cost Face Amount/Shares Cost Value Market Value Credit Rating 1 Credit Rating 2 T-Note 3 6/30/2024 91282CEX5 0.52 8/8/2022 6/30/2024 457 3.251 3,000,000.00 2,986,230.47 2,946,210.00 Moodys-Aaa S&P-AA+ Sub Total / Average US Treasury | No Limit 4.17 1,008 3.042 24,000,000.00 22,965,585.94 22,686,450.00 Total / Average 100 842 2.906 575,223,656.81 571,002,086.71 548,724,393.22

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FINANCE DEPARTMENT / INVESTMENT WITH FISCAL AGENTS
AS OF March 31, 2023
Trust # Description Trustee / Employee GIC ' s U.S. Treasury U.S. Gov'tL.A. County Book Market Retirement Funds Money Market Pooled Value Value

WASTE WATER
558940 2010 Series A $0 $0 $0
558941 2011 Series A $0 $0 $0
558942 2012 Series A $0 $0 $0
558943 2013 Series A $0 $0 $0
TOTAL $0 $0 $0 $0 $0 $0 $0

WATER & POWER
214187000 Water Revenue Series 2010B - Debt Service Fund $1,239,876 $1,239,876 $1,239,876 259898000 Electric Revenue Series 2010B - Debt Service Fund $1,104,453 $1,104,453 $1,104,453 259898001 Electric Revenue Series 2010B - Bond Reserve Subaccount $2,215,104 $2,215,104 $2,215,104 273140000 Water Revenue Series 2021 - Debt Service Fund $812,099 $812,099 $812,099 273140002 Water Revenue Series 2021 - Project Fund $20,125,506 $20,125,506 $20,125,506 220957001 Electric Revenue Series 2023 - Bond Reserve Subaccount $4,019,304 $4,019,304 $4,019,304 220957002 Electric Revenue Series 2023 - Electric System Fund $126,658,320 $126,658,320 $126,658,320 220957003 Electric Revenue Series 2023 - Cost of Issuance $11,553 $11,553 $11,553 TOTAL $0 $0 $156,186,215 $0 $0 $156,186,215 $156,186,215

REDEVELOPMENT SUCCESSOR AGENCY
84070400 2015 $1 $1 $1
" 2015 $0 $0
84070401 2015 $548 $548 $548
84070402 2015 $4,269 $4,269 $4,269
84070403 2015 $1 $1 $1
TOTAL $0 $0 $4,820 $0 $0 $4,820 $4,820

DEFERRED COMPENSATION
GREAT WEST LIFE $1,101,782 $1,101,782 $1,101,782
MissionSquare - PLAN ID: 301936 $210,583,933 $210,583,933 $210,583,933 MissionSquare - PLAN ID: 306675 $905,617 $905,617 $905,617 MissionSquare - PLAN ID: 800843 $2,421,569 $2,421,569 $2,421,569 MissionSquare - PLAN ID: 801492 $2,202,214 $2,202,214 $2,202,214 MissionSquare - PLAN ID: 801493 $3,029,109 $3,029,109 $3,029,109 MissionSquare - PLAN ID: 801494 $42,511 $42,511 $42,511 MissionSquare - PLAN ID: 803383 $746,450 $746,450 $746,450 TOTAL $221,033,184 $0 $0 $0 $0 $221,033,184 $221,033,184 GRAND TOTAL $221,033,184 $0 $156,191,036 $0 $0 $377,224,220 $377,224,220

Burbank City CouncilMay 23, 2023

Burbank City Council
May 23, 2023