Investment Review
City of Fullerton - Aggregate
01/01/2026 to 03/31/2026
Investment Review
City of Fullerton - Aggregatttttte
01/01/2026 to 03/31/2026
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
3 PORTFOLIO CHARACTERISTICS PORTFOLIO SUMMARY
INCOME SUMMARY
12/31/25 03/31/26
Duration 2.124 1.880
<HDUVWR(ႇHFWLYH0DWXULW\ 1.544 1.254
Years to Final Maturity 1.546 1.255
Coupon Rate 3.962 3.970
Book Yield 4.324 4.325
Market Yield 3.983 4.190
Benchmark Yield 3.552 3.852
Summary 12/31/25 03/31/26
Historical Cost $172,144,593.59 $189,067,753.86
Book Value 173,030,128.80 190,073,230.97
Accrued Interest 965,821.28 1,045,769.66
Net Pending Transactions 2,355.61 7,043.28
Book Value Plus Accrued $173,998,305.68 $191,126,043.90 Net Unrealized Gain/Loss 1,045,453.91 288,845.67
Market Value Plus Accrued $175,043,759.59 $191,414,889.57 Period Income Income
Interest Income $1,707,483.06
Net Amortization/Accretion Income 120,255.10
Net Realized Gain/Loss (0.03)
Other Income/Expenses (0.01)
Net Income $1,827,738.12
ASSET ALLOCATION
Detail may not add to total due to rounding.
Portfolio Overview
EXECUTIVE SUMMARY
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
5 Portfolio Overview
MATURITY DISTRIBUTION BY SECURITY TYPE
TOP TEN HOLDINGS MATURITY DISTRIBUTION BY TYPE
Issuer Value
United States 54.28%
(LAIFUND) State of California City 19.43%
(CACLASS) California CLASS 14.60%
(LAIFCRE) State of California Covid Relief
Emergency
2.28%
U.S. Bancorp 1.42%
(LAIFRDA) State of California Successor
Agency
0.97%
Deere & Company 0.94%
Caterpillar Inc. 0.86%
Eli Lilly and Company 0.86%
Amazon.com, Inc. 0.69%
Maturity Distribution
Security
Distribution
0-3 Months 3-6 Months 6-9 Months 9-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years 5+ Years Portfolio Total CASH $7,043.28 -- -- -- -- -- -- -- -- $7,043.28
CORP 2,408,781.11 1,532,801.97 1,084,567.24 1,646,621.47 2,692,457.13 2,871,808.74 12,237,037.65 LGIP 71,365,727.29 71,365,727.29
MMFUND 2,724,376.59 2,724,376.59
MUNI 295,972.87 256,763.44 339,396.32 201,496.68 84,019.31 1,177,648.63 US GOV 10,605,356.44 39,270,445.29 33,575,549.03 11,887,991.30 8,563,714.07 103,903,056.13 TOTAL $76,801,901.14 $1,532,801.97 $1,341,330.68 $12,591,374.23 $42,164,399.11 $36,531,377.09 $11,887,991.30 $8,563,714.07 -- $191,414,88 9.57 January 1 - March 31, 2026
01/01/2026 to 03/31/2026
6 S&P RATING DISTRIBUTION MOOD Y’S RATING DISTRIBU TION ALLOCATION BY STANDARD AND POOR’S RATING ALLOCATION BY MOODY’S RATING Portfolio Overview
S&P Rating Distribution Mar 31, 2026
Ending Balance
Portfolio
Allocation
Short Term Rating Distribution
A-1+ $0.00 0.00%
A-1
A-2
Total Short Term Ratings $0.00 0.00%
Long Term Rating Distribution
AAA $2,731,419.87 1.43%
AA $109,251,237.15 57.08%
A $8,066,505.26 4.21%
Below A
Not Rated $71,365,727.29 37.28%
Total Long Term Ratings $191,414,889.57 100.00%
Portfolio Total $191,414,889.57 100.00%
Moody's Rating Distribution Mar 31, 2026
Ending Balance
Portfolio
Allocation
Short Term Rating Distribution
P-1 $0.00 0.00%
P-2
Total Short Term Ratings $0.00 0.00%
Long Term Rating Distribution
Aaa $2,731,419.87 1.43%
Aa $109,584,958.17 57.25%
A $7,732,784.24 4.04%
Below A
Not Rated $71,365,727.29 37.28%
Total Long Term Ratings $191,414,889.57 100.00%
Portfolio Total $191,414,889.57 100.00%
Rating Distribution
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
7 MARKET VALUE BASIS SECURITY DISTRIBUTION
ASSET BALANCE BY SECURITY TYPE
Portfolio Overview
Security Distribution Dec 31, 2025
Ending Balance
Dec 31, 2025
Portfolio Allocation
Mar 31, 2026
Ending Balance
Mar 31, 2026
Portfolio Allocation
Change in
Allocation
Book Yield
Cash $2,355.61 0.00% $7,043.28 0.00% 0.00% 0.00%
U.S. Treasury Notes $104,388,633.08 59.64% $103,903,056.13 54.28% (5.35%) 3.98% Money Market Funds $1,014,551.79 0.58% $2,724,376.59 1.42% 0.84% 3.27% Corporate Notes 13,038,733.12 7.45% 12,237,037.65 6.39% (1.06%) 4.72% Local Government Investment Pool 55,422,705.10 31.66% 71,365,727.29 37.28% 5.62% 4.80% Municipal Bonds 1,176,780.89 0.67% 1,177,648.63 0.62% (0.06%) 4.64% Portfolio Total $175,043,759.59 100.00% $191,414,889.57 100.00% 4.33% Security Distribution – Market Value
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
9 Portfolio Holdings
SUPPORTING REPORTS
Description
,GHQWL¿HU
Coupon
(ႇHFWLYH0DWXULW\
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of
Market
Value
Callable
Next Call
Date
Book
Yield
YTM
YTC
S&P
Moody's
CASH 0.00%
Receivable
CCYUSD
0.00%
03/31/26
03/31/26
0.00 --
--
7,043.28 $7,043.28
$7,043.28
$7,043.28
1.00 $7,043.28
$0.00
$0.00 0.00% N
--
0.00%
0.00%
0.00%
AAA
Aaa
CASH TOTAL 03/31/26
03/31/26
0.00 --
--
7,043.28 $7,043.28
$7,043.28
$7,043.28
1.00 $7,043.28
$0.00
$0.00 0.00% N
--
0.00%
0.00%
0.00%
AAA
Aaa
MMFUND 0.00%
FIRST AMER:GVT
OBLG Y
31846V203
3.27%
03/31/26
03/31/26
0.00 --
--
2,724,376.59 $2,724,376.59
$2,724,376.59
$2,724,376.59
1.00 $2,724,376.59
$0.00
$0.00 1.42% N
--
3.27%
--
--
AAAm
Aaa
MMFUND TOTAL 03/31/26
03/31/26
0.00 --
--
2,724,376.59 $2,724,376.59
$2,724,376.59
$2,724,376.59
1.00 $2,724,376.59
$0.00
$0.00 1.42% N
--
3.27%
--
--
AAAm
Aaa
US GOV 0.00%
UNITED STATES
TREASURY
912828YX2
1.75%
12/31/26
12/31/26
0.73 04/27/22
04/28/22
680,000.00 $649,267.19
$674,813.85
$670,052.34
98.54 $673,043.78
$2,991.44
($4,761.51) 0.35% N
--
2.79%
3.74%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CJT9
4.00%
01/15/27
01/15/27
0.77 04/04/24
04/05/24
1,000,000.00 986,210.94
995,924.88
1,002,070.31
100.21
1,010,468.10
8,397.79
6,145.43 0.53% N
--
4.53%
3.73%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CMH1
4.13%
01/31/27
01/31/27
0.81 04/02/25
04/03/25
350,000.00 351,052.73
350,496.35
351,100.59
100.31
353,493.54
2,392.96
604.24 0.18% N
--
3.95%
3.73%
--
AA+
Aa1
UNITED STATES
TREASURY
912828V98
2.25%
02/15/27
02/15/27
0.86 --
--
1,875,000.00 1,757,622.06
1,841,213.08
1,851,013.18
98.72 1,856,257.49
5,244.30
9,800.10 0.97% N
--
4.37%
3.74%
--
AA+
Aa1
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
10 Portfolio Holdings
SUPPORTING REPORTS
Description
,GHQWL¿HU
Coupon
(ႇHFWLYH0DWXULW\
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of
Market
Value
Callable
Next Call
Date
Book
Yield
YTM
YTC
S&P
Moody's
UNITED STATES
TREASURY
91282CKA8
4.13%
02/15/27
02/15/27
0.85 03/14/24
03/18/24
3,000,000.00 2,970,820.31
2,990,867.78
3,009,492.19
100.32
3,024,875.47
15,383.29
18,624.41 1.58% N
--
4.48%
3.75%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CEC1
1.88%
02/28/27
02/28/27
0.89 03/09/22
03/11/22
875,000.00 875,410.16
875,078.59
860,405.27
98.33 861,831.90
1,426.63
(14,673.32) 0.45% N
--
1.87%
3.74%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CKE0
4.25%
03/15/27
03/15/27
0.93 03/14/24
03/18/24
2,600,000.00 2,584,562.50
2,594,861.10
2,612,695.31
100.49
2,617,799.93
5,104.62
17,834.21 1.37% N
--
4.46%
3.72%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CEF4
2.50%
03/31/27
03/31/27
0.98 04/27/22
04/28/22
210,000.00 207,301.17
209,423.83
207,571.88
98.84 207,586.22
14.34 (1,851.95) 0.11% N
--
2.78%
3.69%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CKJ9
4.50%
04/15/27
04/15/27
0.99 04/29/24
04/30/24
2,100,000.00 2,082,691.41
2,093,664.91
2,116,201.17
100.77
2,159,816.56
43,615.38
22,536.26 1.13% N
--
4.80%
3.74%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CEN7
2.75%
04/30/27
04/30/27
1.04 --
--
1,875,000.00 1,814,414.06
1,849,457.78
1,854,968.26
98.93 1,876,618.81
21,650.55
5,510.48 0.98% N
--
4.05%
3.76%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CKR1
4.50%
05/15/27
05/15/27
1.07 06/06/24
06/07/24
3,350,000.00 3,349,607.42
3,349,880.49
3,375,059.57
100.75
3,432,111.37
57,051.80
25,179.08 1.79% N
--
4.50%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CET4
2.63%
05/31/27
05/31/27
1.13 06/09/22
06/10/22
710,000.00 696,105.08
706,558.34
700,528.71
98.67 706,775.35
6,246.63
(6,029.63) 0.37% N
--
3.05%
3.80%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CKV2
4.63%
06/15/27
06/15/27
1.15 08/01/24
08/02/24
2,200,000.00 2,238,242.19
2,216,630.38
2,220,925.78
100.95
2,250,835.81
29,910.03
4,295.40 1.18% N
--
3.98%
3.81%
--
AA+
Aa1
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
11 Portfolio Holdings
SUPPORTING REPORTS
Description
,GHQWL¿HU
Coupon
(ႇHFWLYH0DWXULW\
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of
Market
Value
Callable
Next Call
Date
Book
Yield
YTM
YTC
S&P
Moody's
UNITED STATES
TREASURY
91282CEW7
3.25%
06/30/27
06/30/27
1.20 --
--
1,060,000.00 1,057,991.60
1,058,503.16
1,052,795.31
99.32 1,061,455.40
8,660.08
(5,707.84) 0.55% N
--
3.37%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CKZ3
4.38%
07/15/27
07/15/27
1.24 01/08/25
01/09/25
875,000.00 876,333.01
875,703.97
881,135.25
100.70
889,172.20
8,036.95
5,431.29 0.46% N
--
4.31%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CFB2
2.75%
07/31/27
07/31/27
1.29 09/04/24
09/05/24
1,475,000.00 1,438,009.77
1,457,535.41
1,454,574.71
98.62 1,461,297.77
6,723.07
(2,960.71) 0.76% N
--
3.67%
3.82%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CLG4
3.75%
08/15/27
08/15/27
1.33 09/04/24
09/05/24
1,475,000.00 1,478,860.35
1,476,866.82
1,473,357.91
99.89 1,480,233.77
6,875.86
(3,508.91) 0.77% N
--
3.65%
3.83%
--
AA+
Aa1
UNITED STATES
TREASURY
9128282R0
2.25%
08/15/27
08/15/27
1.34 08/29/22
08/30/22
1,275,000.00 1,214,288.09
1,257,172.13
1,248,329.59
97.91 1,251,895.72
3,566.13
(8,842.54) 0.65% N
--
3.30%
3.82%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CFH9
3.13%
08/31/27
08/31/27
1.37 10/01/24
10/02/24
1,150,000.00 1,137,960.94
1,144,012.46
1,138,926.76
99.04 1,142,051.76
3,125.00
(5,085.71) 0.60% N
--
3.51%
3.83%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CLL3
3.38%
09/15/27
09/15/27
1.40 --
--
1,635,000.00 1,628,858.40
1,631,408.66
1,624,557.71
99.36 1,627,106.85
2,549.13
(6,850.94) 0.85% N
--
3.53%
3.83%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CFM8
4.13%
09/30/27
09/30/27
1.44 --
--
1,650,000.00 1,638,044.93
1,644,394.15
1,657,122.07
100.43
1,657,308.03
185.96
12,727.93 0.87% N
--
4.36%
3.83%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CAL5
0.38%
09/30/27
09/30/27
1.47 11/28/22
11/29/22
1,250,000.00 1,056,347.66
1,186,103.16
1,187,646.48
95.01 1,187,659.29
12.81 1,543.33 0.62% N
--
3.92%
3.83%
--
AA+
Aa1
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
12 Portfolio Holdings
SUPPORTING REPORTS
Description
,GHQWL¿HU
Coupon
(ႇHFWLYH0DWXULW\
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of
Market
Value
Callable
Next Call
Date
Book
Yield
YTM
YTC
S&P
Moody's
UNITED STATES
TREASURY
91282CLQ2
3.88%
10/15/27
10/15/27
1.46 10/01/25
10/02/25
700,000.00 704,347.66
703,319.97
700,533.20
100.08
713,052.43
12,519.23
(2,786.77) 0.37% N
--
3.56%
3.82%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CFU0
4.13%
10/31/27
10/31/27
1.49 --
--
2,850,000.00 2,841,023.45
2,845,998.60
2,861,912.11
100.42
2,911,275.37
49,363.26
15,913.51 1.52% N
--
4.22%
3.85%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CLX7
4.13%
11/15/27
11/15/27
1.54 --
--
2,750,000.00 2,761,574.22
2,758,011.45
2,762,031.25
100.44
2,804,962.02
42,930.77
4,019.80 1.47% N
--
3.94%
3.84%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CFZ9
3.88%
11/30/27
11/30/27
1.58 01/26/23
01/30/23
1,125,000.00 1,139,414.06
1,130,260.16
1,125,791.02
100.07
1,140,402.11
14,611.09
(4,469.14) 0.60% N
--
3.58%
3.83%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CMB4
4.00%
12/15/27
12/15/27
1.62 01/08/25
01/09/25
1,300,000.00 1,288,117.19
1,292,927.99
1,303,681.64
100.28
1,318,967.36
15,285.71
10,753.65 0.69% N
--
4.33%
3.82%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CBB6
0.63%
12/31/27
12/31/27
1.71 03/09/23
03/13/23
900,000.00 760,464.84
845,950.20
851,589.84
94.62 853,003.86
1,414.02
5,639.64 0.45% N
--
4.23%
3.83%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CMF5
4.25%
01/15/28
01/15/28
1.70 03/04/25
03/05/25
1,500,000.00 1,512,773.44
1,508,181.78
1,510,781.25
100.72
1,524,165.23
13,383.98
2,599.47 0.80% N
--
3.93%
3.83%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CGH8
3.50%
01/31/28
01/31/28
1.75 04/02/25
04/03/25
2,100,000.00 2,076,949.22
2,084,828.19
2,088,269.53
99.44 2,100,451.85
12,182.32
3,441.34 1.10% N
--
3.91%
3.82%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CMN8
4.25%
02/15/28
02/15/28
1.78 03/04/25
03/05/25
1,500,000.00 1,513,593.75
1,508,835.61
1,511,748.05
100.78
1,519,672.77
7,924.72
2,912.44 0.79% N
--
3.92%
3.81%
--
AA+
Aa1
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
13 Portfolio Holdings
SUPPORTING REPORTS
Description
,GHQWL¿HU
Coupon
(ႇHFWLYH0DWXULW\
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of
Market
Value
Callable
Next Call
Date
Book
Yield
YTM
YTC
S&P
Moody's
UNITED STATES
TREASURY
91282CGP0
4.00%
02/29/28
02/29/28
1.82 02/04/25
02/05/25
2,185,000.00 2,168,953.91
2,174,775.11
2,192,553.61
100.35
2,200,153.61
7,600.00
17,778.50 1.15% N
--
4.26%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CBS9
1.25%
03/31/28
03/31/28
1.94 05/01/23
05/03/23
725,000.00 646,722.66
691,464.51
689,585.45
95.12 689,610.21
24.76 (1,879.06) 0.36% N
--
3.67%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CGT2
3.63%
03/31/28
03/31/28
1.91 03/14/24
03/18/24
1,875,000.00 1,823,437.50
1,848,386.76
1,868,518.07
99.65 1,868,703.77
185.71
20,131.31 0.98% N
--
4.38%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CMW8
3.75%
04/15/28
04/15/28
1.91 05/01/25
05/05/25
2,300,000.00 2,303,503.91
2,302,491.58
2,297,214.84
99.88 2,337,022.54
39,807.69
(5,276.74) 1.22% N
--
3.69%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CHA2
3.50%
04/30/28
04/30/28
1.96 --
--
2,225,000.00 2,151,853.52
2,187,176.04
2,211,180.66
99.38 2,243,879.56
32,698.90
24,004.63 1.17% N
--
4.36%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CND9
3.75%
05/15/28
05/15/28
2.00 06/04/25
06/05/25
1,450,000.00 1,446,884.77
1,447,739.49
1,448,130.86
99.87 1,468,709.24
20,578.38
391.37 0.77% N
--
3.83%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CHE4
3.63%
05/31/28
05/31/28
2.04 --
--
2,300,000.00 2,276,201.17
2,286,719.53
2,291,375.00
99.63 2,319,319.37
27,944.37
4,655.47 1.21% N
--
3.91%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CCE9
1.25%
05/31/28
05/31/28
2.10 --
--
930,000.00 809,348.24
873,021.97
880,957.03
94.73 884,853.32
3,896.29
7,935.06 0.46% N
--
4.24%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CNH0
3.88%
06/15/28
06/15/28
2.08 07/31/25
08/01/25
2,275,000.00 2,275,000.00
2,275,000.00
2,278,554.69
100.16
2,304,468.75
25,914.06
3,554.69 1.20% N
--
3.87%
3.80%
--
AA+
Aa1
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
14 Portfolio Holdings
SUPPORTING REPORTS
Description
,GHQWL¿HU
Coupon
(ႇHFWLYH0DWXULW\
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of
Market
Value
Callable
Next Call
Date
Book
Yield
YTM
YTC
S&P
Moody's
UNITED STATES
TREASURY
91282CHK0
4.00%
06/30/28
06/30/28
2.12 07/01/25
07/02/25
2,450,000.00 2,466,843.75
2,462,819.16
2,460,718.75
100.44
2,485,354.11
24,635.36
(2,100.41) 1.30% N
--
3.76%
3.79%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CCH2
1.25%
06/30/28
06/30/28
2.18 08/29/23
08/30/23
650,000.00 563,722.66
607,675.65
614,478.52
94.54 616,520.99
2,042.47
6,802.87 0.32% N
--
4.32%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CHQ7
4.13%
07/31/28
07/31/28
2.20 --
--
3,220,000.00 3,252,780.08
3,247,653.86
3,242,640.63
100.70
3,264,655.82
22,015.19
(5,013.24) 1.71% N
--
3.74%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CCV1
1.13%
08/31/28
08/31/28
2.34 --
--
825,000.00 695,806.64
757,289.34
774,307.62
93.86 775,114.68
807.07
17,018.28 0.40% N
--
4.77%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CNY3
3.38%
09/15/28
09/15/28
2.33 10/01/25
10/02/25
1,300,000.00 1,293,093.75
1,294,225.90
1,286,695.31
98.98 1,288,722.15
2,026.83
(7,530.59) 0.67% N
--
3.57%
3.81%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CCY5
1.25%
09/30/28
09/30/28
2.42 12/06/23
12/08/23
575,000.00 502,473.63
535,568.34
540,140.63
93.94 540,160.26
19.64 4,572.28 0.28% N
--
4.17%
3.82%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CPC9
3.50%
10/15/28
10/15/28
2.37 10/30/25
10/31/25
1,950,000.00 1,944,210.94
1,945,011.68
1,935,146.48
99.24 1,966,646.48
31,500.00
(9,865.19) 1.03% N
--
3.61%
3.82%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CPK1
3.50%
11/15/28
11/15/28
2.45 12/01/25
12/02/25
2,700,000.00 2,696,519.53
2,696,915.28
2,678,484.38
99.20 2,714,248.19
35,763.81
(18,430.90) 1.42% N
--
3.55%
3.82%
--
AA+
Aa1
UNITED STATES
TREASURY
912810FF0
5.25%
11/15/28
11/15/28
2.40 12/06/23
12/08/23
300,000.00 314,906.25
308,290.82
310,734.38
103.58
316,695.01
5,960.64
2,443.55 0.17% N
--
4.13%
3.80%
--
AA+
Aa1
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
15 Portfolio Holdings
SUPPORTING REPORTS
Description
,GHQWL¿HU
Coupon
(ႇHFWLYH0DWXULW\
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of
Market
Value
Callable
Next Call
Date
Book
Yield
YTM
YTC
S&P
Moody's
UNITED STATES
TREASURY
91282CJN2
4.38%
11/30/28
11/30/28
2.47 03/14/24
03/18/24
925,000.00 927,167.97
926,312.07
937,971.68
101.40
951,535.38
13,563.70
11,659.61 0.50% N
--
4.32%
3.82%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CJR3
3.75%
12/31/28
12/31/28
2.57 10/30/24
10/31/24
825,000.00 813,172.85
816,999.90
823,485.35
99.82 831,262.46
7,777.11
6,485.45 0.43% N
--
4.13%
3.82%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CDW8
1.75%
01/31/29
01/31/29
2.72 --
--
1,750,000.00 1,554,146.48
1,630,884.56
1,653,203.13
94.47 1,658,279.09
5,075.97
22,318.56 0.87% N
--
4.33%
3.83%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CJW2
4.00%
01/31/29
01/31/29
2.64 --
--
1,575,000.00 1,550,750.97
1,560,231.18
1,582,444.34
100.47
1,592,886.32
10,441.99
22,213.16 0.83% N
--
4.36%
3.82%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CKD2
4.25%
02/28/29
02/28/29
2.71 04/04/24
04/05/24
450,000.00 448,435.55
449,041.24
455,238.28
101.16
456,901.32
1,663.04
6,197.04 0.24% N
--
4.33%
3.82%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CEE7
2.38%
03/31/29
03/31/29
2.86 04/29/24
04/30/24
775,000.00 697,560.55
725,740.81
743,364.26
95.92 743,414.55
50.29 17,623.45 0.39% N
--
4.67%
3.83%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CEM9
2.88%
04/30/29
04/30/29
2.88 09/04/24
09/05/24
800,000.00 774,781.25
782,855.26
777,875.00
97.23 787,532.46
9,657.46
(4,980.26) 0.41% N
--
3.62%
3.83%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CES6
2.75%
05/31/29
05/31/29
2.97 --
--
925,000.00 860,963.87
882,501.10
895,298.83
96.79 903,824.58
8,525.76
12,797.73 0.47% N
--
4.32%
3.84%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CKT7
4.50%
05/31/29
05/31/29
2.89 07/03/24
07/05/24
425,000.00 428,668.95
427,463.95
433,317.38
101.96
439,727.41
6,410.03
5,853.43 0.23% N
--
4.30%
3.84%
--
AA+
Aa1
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
16 Portfolio Holdings
SUPPORTING REPORTS
Description
,GHQWL¿HU
Coupon
(ႇHFWLYH0DWXULW\
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of
Market
Value
Callable
Next Call
Date
Book
Yield
YTM
YTC
S&P
Moody's
UNITED STATES
TREASURY
91282CKX8
4.25%
06/30/29
06/30/29
2.98 08/01/24
08/02/24
1,325,000.00 1,347,618.16
1,340,456.33
1,341,562.50
101.25
1,355,718.40
14,155.90
1,106.17 0.71% N
--
3.86%
3.84%
--
AA+
Aa1
UNITED STATES
TREASURY
912828YB0
1.63%
08/15/29
08/15/29
3.23 09/04/24
09/05/24
850,000.00 775,193.36
797,522.72
791,164.06
93.08 792,881.09
1,717.02
(6,358.66) 0.41% N
--
3.58%
3.83%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CLK5
3.63%
08/31/29
08/31/29
3.17 10/01/24
10/02/24
645,000.00 649,434.38
648,169.83
640,212.89
99.26 642,246.04
2,033.15
(7,956.94) 0.34% N
--
3.47%
3.86%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CFL0
3.88%
09/30/29
09/30/29
3.24 10/30/24
10/31/24
340,000.00 336,135.16
337,178.31
340,092.97
100.03
340,128.97
36.00 2,914.66 0.18% N
--
4.13%
3.87%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CLR0
4.13%
10/31/29
10/31/29
3.25 12/05/24
12/06/24
600,000.00 600,867.20
600,665.03
605,015.63
100.84
615,407.89
10,392.27
4,350.60 0.32% N
--
4.09%
3.87%
--
AA+
Aa1
UNITED STATES
TREASURY
912828YS3
1.75%
11/15/29
11/15/29
3.43 12/05/24
12/06/24
675,000.00 605,917.97
623,072.13
627,539.06
92.97 632,009.54
4,470.48
4,466.94 0.33% N
--
4.06%
3.85%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CMA6
4.13%
11/30/29
11/30/29
3.33 02/04/25
02/05/25
1,175,000.00 1,165,269.53
1,167,465.77
1,184,868.16
100.84
1,201,113.18
16,245.02
17,402.39 0.63% N
--
4.32%
3.88%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CFY2
3.88%
11/30/29
11/30/29
3.35 03/04/25
03/05/25
900,000.00 895,605.47
896,565.61
900,035.16
100.00
911,724.03
11,688.87
3,469.54 0.48% N
--
3.99%
3.87%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CMG3
4.25%
01/31/30
01/31/30
3.49 04/02/25
04/03/25
1,150,000.00 1,164,285.16
1,161,600.90
1,164,599.61
101.27
1,172,700.44
8,100.83
2,998.71 0.61% N
--
3.96%
3.89%
--
AA+
Aa1
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
17 Portfolio Holdings
SUPPORTING REPORTS
Description
,GHQWL¿HU
Coupon
(ႇHFWLYH0DWXULW\
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of
Market
Value
Callable
Next Call
Date
Book
Yield
YTM
YTC
S&P
Moody's
UNITED STATES
TREASURY
91282CGJ4
3.50%
01/31/30
01/31/30
3.53 05/01/25
05/05/25
875,000.00 863,994.14
865,980.98
862,968.75
98.63 868,044.72
5,075.97
(3,012.23) 0.45% N
--
3.79%
3.89%
--
AA+
Aa1
UNITED STATES
TREASURY
912828Z94
1.50%
02/15/30
02/15/30
3.70 03/04/25
03/05/25
525,000.00 466,532.23
478,281.25
480,539.06
91.53 481,518.00
978.94
2,257.81 0.25% N
--
4.00%
3.87%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CMU2
4.00%
03/31/30
03/31/30
3.67 06/04/25
06/05/25
1,000,000.00 1,003,203.13
1,002,735.84
1,003,750.00
100.38
1,003,859.29
109.29
1,014.16 0.52% N
--
3.93%
3.90%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CMZ1
3.88%
04/30/30
04/30/30
3.68 07/01/25
07/02/25
450,000.00 450,650.39
450,573.11
449,595.70
99.91 456,917.53
7,321.82
(977.40) 0.24% N
--
3.84%
3.90%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CGZ8
3.50%
04/30/30
04/30/30
3.71 08/27/25
08/28/25
675,000.00 669,410.16
670,090.78
664,901.37
98.50 674,821.26
9,919.89
(5,189.41) 0.35% N
--
3.69%
3.90%
--
AA+
Aa1
UNITED STATES
TREASURY
912828ZQ6
0.63%
05/15/30
05/15/30
3.99 06/04/25
06/05/25
750,000.00 639,550.78
656,484.49
656,982.42
87.60 658,756.42
1,774.00
497.94 0.34% N
--
3.93%
3.91%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CNK3
3.88%
06/30/30
06/30/30
3.85 07/31/25
08/01/25
1,250,000.00 1,246,289.06
1,246,780.81
1,248,291.02
99.86 1,260,467.29
12,176.28
1,510.21 0.66% N
--
3.94%
3.91%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CNN7
3.88%
07/31/30
07/31/30
3.93 10/01/25
10/02/25
625,000.00 630,029.30
629,575.63
624,047.85
99.85 628,062.01
4,014.16
(5,527.78) 0.33% N
--
3.69%
3.91%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CAE1
0.63%
08/15/30
08/15/30
4.23 --
--
1,075,000.00 926,672.85
941,921.00
933,612.30
86.85 934,447.51
835.20
(8,308.70) 0.49% N
--
3.72%
3.92%
--
AA+
Aa1
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
18 Portfolio Holdings
SUPPORTING REPORTS
Description
,GHQWL¿HU
Coupon
(ႇHFWLYH0DWXULW\
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of
Market
Value
Callable
Next Call
Date
Book
Yield
YTM
YTC
S&P
Moody's
UNITED STATES
TREASURY
91282CNX5
3.63%
08/31/30
08/31/30
4.03 10/30/25
10/31/25
1,250,000.00 1,245,312.50
1,245,731.01
1,234,863.28
98.79 1,238,803.50
3,940.22
(10,867.73) 0.65% N
--
3.71%
3.93%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CAV3
0.88%
11/15/30
11/15/30
4.43 12/01/25
12/02/25
700,000.00 612,171.88
617,582.66
610,339.84
87.19 612,657.87
2,318.02
(7,242.82) 0.32% N
--
3.67%
3.93%
--
AA+
Aa1
UNITED STATES
TREASURY
91282CJM4
4.38%
11/30/30
11/30/30
4.14 12/01/25
12/02/25
1,060,000.00 1,093,414.84
1,091,387.06
1,079,378.13
101.83
1,094,921.39
15,543.27
(12,008.94) 0.57% N
--
3.68%
3.94%
--
AA+
Aa1
US GOV TOTAL 05/28/28
05/28/28
2.03 --
--
$101,763,728.80
$102,772,961.57
$103,014,843.17
99.16 $103,903,056.13
$888,212.96
$241,881.60 54.28% N
--
3.98%
3.82%
--
AA+
Aa1
MUNI
0.00%
CONNECTICUT ST
20772KTH2
5.05%
05/15/26
05/15/26
0.12 06/01/23
06/22/23
290,000.00 $293,888.90
$290,171.49
$290,440.31
100.15
$295,972.87
$5,532.56
$268.82 0.15% N
--
4.55%
3.65%
--
AA-
Aa2
HAWAII ST
419792L95
4.59%
10/01/26
10/01/26
0.48 12/07/23
12/19/23
250,000.00 250,000.00
250,000.00
251,028.44
100.41
256,763.44
5,735.00
1,028.44 0.13% N
--
4.59%
3.73%
--
AA+
Aa2
CALIFORNIA STATE
13063D3N6
4.85%
03/01/27
03/01/27
0.89 03/09/23
03/15/23
335,000.00 335,000.00
335,000.00
338,043.48
100.91
339,396.32
1,352.84
3,043.48 0.18% N
--
4.85%
3.81%
--
AA-
Aa2
CONNECTICUT ST
20772KTJ8
5.05%
05/15/27
05/15/27
1.07 06/01/23
06/22/23
170,000.00 173,264.00
170,994.89
172,218.97
101.31
175,462.19
3,243.22
1,224.08 0.09% N
--
4.51%
3.84%
--
AA-
Aa2
HAWAII ST
419792M29
5.00%
10/01/27
10/01/27
1.41 12/07/23
12/19/23
25,000.00 25,420.75
25,174.66
25,409.49
101.64
26,034.49
625.00
234.84 0.01% N
--
4.51%
3.86%
--
AA+
Aa2
HAWAII ST
419792M37
5.00%
10/01/28
10/01/28
2.28 12/07/23
12/19/23
80,000.00 81,632.80
80,893.86
82,019.31
102.52
84,019.31
2,000.00
1,125.45 0.04% N
--
4.52%
3.93%
--
AA+
Aa2
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
19 Portfolio Holdings
SUPPORTING REPORTS
Description
,GHQWL¿HU
Coupon
(ႇHFWLYH0DWXULW\
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of
Market
Value
Callable
Next Call
Date
Book
Yield
YTM
YTC
S&P
Moody's
MUNI TOTAL 01/11/27
01/11/27
0.75 --
--
1,150,000.00 $1,159,206.45
$1,152,234.89
$1,159,160.01
100.80
$1,177,648.63
$18,488.62
$6,925.11 0.62% N
--
4.64%
3.77%
--
AA-
Aa2
CORP 0.00%
TOYOTA MOTOR
CREDIT CORP
89236TMD4
5.20%
05/15/26
05/15/26
0.12 05/13/24
05/16/24
1,125,000.00 $1,124,268.75
$1,124,953.63
$1,126,744.72
100.16
$1,148,844.72
$22,100.00
$1,791.09 0.60% N
--
5.23%
3.85%
--
A+
A1
NATIONAL
SECURITIES
CLEARING CORP
637639AL9
5.15%
06/26/26
06/26/26
0.23 06/17/24
06/26/24
1,240,000.00 1,239,925.60
1,239,990.87
1,243,084.44
100.25
1,259,936.38
16,851.94
3,093.57 0.66% N
--
5.15%
4.03%
--
AA+
Aa1
JOHN DEERE
CAPITAL CORP
24422EXD6
5.15%
09/08/26
09/08/26
0.43 09/05/23
09/08/23
665,000.00 664,527.85
664,927.13
668,381.47
100.51
670,569.51
2,188.03
3,454.35 0.35% N
--
5.18%
3.95%
--
A
A1
NEW YORK LIFE
GLOBAL FUNDING
64953BBF4
5.45%
09/18/26
09/18/26
0.46 09/12/23
09/19/23
855,000.00 854,837.55
854,972.97
860,549.77
100.65
862,232.46
1,682.69
5,576.80 0.45% N
--
5.46%
4.02%
--
AA+
Aa1
PEPSICO INC
713448FW3
5.13%
10/10/26
11/10/26
0.51 11/08/23
11/10/23
655,000.00 654,823.15
654,962.04
658,723.22
100.57
671,870.98
13,147.76
3,761.19 0.35% Y
10/10/26
5.13%
4.16%
4.02%
A+
A1
PACCAR FINANCIAL
CORP
69371RT55
4.50%
11/25/26
11/25/26
0.63 11/18/24
11/25/24
405,000.00 404,655.75
404,885.06
406,317.51
100.33
412,696.26
6,378.75
1,432.45 0.22% N
--
4.54%
3.98%
--
A+
A1
ELI LILLY AND CO
532457CJ5
4.50%
01/09/27
02/09/27
0.77 02/07/24
02/09/24
1,630,000.00 1,629,136.10
1,629,741.00
1,636,026.47
100.37
1,646,621.47
10,595.00
6,285.47 0.86% Y
01/09/27
4.52%
4.05%
4.01%
A+
Aa3
PACCAR FINANCIAL
CORP
69371RT22
5.00%
05/13/27
05/13/27
1.06 05/06/24
05/13/24
165,000.00 164,872.95
164,950.56
166,756.32
101.06
169,918.82
3,162.50
1,805.76 0.09% N
--
5.03%
4.01%
--
A+
A1
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
20 Portfolio Holdings
SUPPORTING REPORTS
Description
,GHQWL¿HU
Coupon
(ႇHFWLYH0DWXULW\
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of
Market
Value
Callable
Next Call
Date
Book
Yield
YTM
YTC
S&P
Moody's
CATERPILLAR
FINANCIAL
SERVICES CORP
14913UAL4
5.00%
05/14/27
05/14/27
1.06 05/07/24
05/14/24
800,000.00 799,120.00
799,656.70
808,116.50
101.01
823,338.72
15,222.22
8,459.80 0.43% N
--
5.04%
4.06%
--
A
A2
JOHN DEERE
CAPITAL CORP
24422EXZ7
4.65%
01/07/28
01/07/28
1.67 01/06/25
01/09/25
1,105,000.00 1,104,668.50
1,104,797.00
1,115,321.91
100.93
1,127,311.16
11,989.25
10,524.92 0.59% N
--
4.66%
4.09%
--
A
A1
PACCAR FINANCIAL
CORP
69371RT63
4.55%
03/03/28
03/03/28
1.82 02/20/25
03/03/25
565,000.00 564,655.35
564,774.03
569,888.96
100.87
571,888.43
1,999.47
5,114.94 0.30% N
--
4.57%
4.08%
--
A+
A1
METROPOLITAN
LIFE GLOBAL
FUNDING I
592179KR5
4.15%
08/25/28
08/25/28
2.25 08/19/25
08/25/25
735,000.00 734,941.20
734,952.34
732,412.85
99.65 735,463.10
3,050.25
(2,539.49) 0.38% N
--
4.15%
4.30%
--
AA-
Aa3
CATERPILLAR
FINANCIAL
SERVICES CORP
14913UBD1
3.95%
11/14/28
11/14/28
2.43 11/10/25
11/14/25
815,000.00 814,568.05
814,620.28
811,194.16
99.53 823,445.19
12,251.03
(3,426.12) 0.43% N
--
3.97%
4.14%
--
A
A2
AMAZON.COM INC
023135CS3
3.90%
11/20/28
11/20/28
2.43 11/17/25
11/20/25
1,300,000.00 1,299,714.00
1,299,747.10
1,294,451.28
99.57 1,312,900.45
18,449.17
(5,295.82) 0.69% Y
10/20/28
3.91%
4.07%
4.08%
AA
A1
CORP TOTAL 06/11/27
06/17/27
1.13 --
--
12,060,000.00 $12,054,714.80
$12,057,930.70
$12,097,969.58
100.32
$12,237,037.65
$139,068.07
$40,038.88 6.39%
--
4.72%
4.05%
4.03%
A+
A1
LGIP 0.00%
POOLED MONEY
INVESTMENT
ACCOUNT
LAIFRDA
3.97%
03/31/26
03/31/26
--
--
1,859,304.50 $1,859,304.40
$1,859,304.40
$1,859,304.50
1.00 $1,859,304.50
$0.00
$0.10 0.97% N
--
4.34%
--
--
NA
NA
January 1 - March 31, 2026
01/01/2026 to 03/31/2026
21 Portfolio Holdings
SUPPORTING REPORTS
Description
,GHQWL¿HU
Coupon
(ႇHFWLYH0DWXULW\
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of
Market
Value
Callable
Next Call
Date
Book
Yield
YTM
YTC
S&P
Moody's
POOLED MONEY
INVESTMENT
ACCOUNT
LAIFUND
3.97%
03/31/26
03/31/26
--
--
37,194,695.50 37,194,695.50
37,194,695.50
37,194,695.50
1.00 37,194,695.50
0.00 (0.00) 19.43% N
--
4.34%
--
--
NA
NA
POOLED MONEY
INVESTMENT
ACCOUNT
LAIFCRE
3.97%
03/31/26
03/31/26
--
--
4,358,816.60 4,358,816.63
4,358,816.63
4,358,816.60
1.00 4,358,816.60
0.00 (0.03) 2.28% N
--
4.34%
--
--
NA
NA
CALIFORNIA CLASS
CACLASS
5.48%
03/31/26
03/31/26
--
--
27,952,910.69 27,952,910.69
27,952,910.69
27,952,910.69
1.00 27,952,910.69
0.00 0.00 14.60% N
--
5.51%
--
--
NA
NA
LGIP TOTAL 03/31/26
03/31/26
--
--
71,365,727.29 $71,365,727.22
$71,365,727.22
$71,365,727.29
1.00 $71,365,727.29
$0.00
$0.07 37.28% N
--
4.80%
--
--
NA
NA
PORTFOLIO TOTAL 07/02/27
07/02/27
1.88 --
--
$189,074,797.14
$190,080,274.25
$190,369,119.91
61.24 $191,414,889.57
$1,045,769.66
$288,845.67 100.00%
--
4.33%
3.84%
4.03%
AA
Aa2
January 1 - March 31, 2026
Organizational Structure
Public Trust Advisors, LLC, PMA Financial Network, LLC, PMA Securities, LLC and PMA Asset Management, LLC are under common ownership as part of PTMA Financial Solutions, LLC (“PTMA”).
Public Trust Advisors, LLC and PMA Asset Management, LLC, are two separate SEC registered investment advisers, both doing business as PTMA Investment Advisors. PMA Securities, LLC is a broker-dealer and municipal advisor registered with the SEC and MSRB and is a member of FINRA and SIPC. Registration with the SEC does not imply a certain level of skill or training. Marketing, VHFXULWLHVLQVWLWXWLRQDOEURNHUDJHVHUYLFHVDQGPXQLFLSDODGYLVRU\VHUYLFHVDUHRႇHUHGWKURXJK30$6HFXULWLHV//&370$,QYHVWPHQW$GYLVRUVSURYLGHVLQYHVWPHQWDGYLVRU\VHUYLFHVWRORFDOJRYHUQPHQW investment pools (“Funds”) and separate accounts. All other products are provided by PMA Financial Network, LLC.
Report Information
This report is intended to detail investment advisory activity through your PTMA Investment Advisors separately managed account (hereinafter “Account”). This information is for the sole purposes of the FOLHQWDQGLVQRWLQWHQGHGWRSURYLGHVSHFL¿FLQYHVWPHQWDGYLFHRUUHFRPPHQGDWLRQV7KLVUHSRUWLVSURYLGHGIRULQIRUPDWLRQDOSXUSRVHVRQO\DQGGRHVQRWFRQVWLWXWHDQRFLDODFFRXQWVWDWHPHQW &OLHQWVVKRXOGUHIHUWRFXVWRGLDOVWDWHPHQWVIRURFLDOUHFRUGVRIKROGLQJVDQGWUDQVDFWLRQV Beginning and ending balances are based on market value plus accrued interest on a trade date basis. Information derived from sources other than PTMA (including pricing, security characteristics and market analytics), is believed to be reliable; however, the data in this report is unaudited and PTMA makes no representations as to its accuracy or completeness. Data is applicable as of the date in the report. Market values may change day-to-day based on numerous circumstances such as trading volume, news released about the underlying issuer, issuer performance, etc.
Statements and reports made available to the end user either from PTMA or Clearwater Analytics may present information and portfolio analytics using various valuation methodologies including, but not OLPLWHGWRKLVWRULFDOFRVWDPRUWL]HGFRVWDQGPDUNHWYDOXH7KHVHPHWKRGRORJLHVPD\GLႇHUIURPWKHPHWKRGRORJLHVXVHGLQ\RXULQWHUQDODFFRXQWLQJRUE\\RXUFXVWRGLDQ Forward-looking statements, including opinions or forecasts, in this report are based on current assumptions and are subject to change without notice. This report is not intended to be, nor should it be relied upon in any way as a forecast or guarantee of future events regarding a particular investment or the markets in general. Certain security characteristics may include assumptions including, but not OLPLWHGWRH[SHFWHGOHYHOVRIYRODWLOLW\SUHSD\PHQWUDWHVGHIDXOWUDWHVDQGUHFRYHU\UDWHV$FWXDOUHVXOWVPD\GLႇHUPDWHULDOO\GXHWRPDUNHWRUHFRQRPLFFRQGLWLRQV 7KHVHFXULWLHVLQWKLV$FFRXQWDUHQRWJXDUDQWHHGLQVXUHGRURWKHUZLVHSURWHFWHGE\370$WKH)',& H[FHSWIRUFHUWDLQEDQNSURGXFWV
RUE\DQ\JRYHUQPHQWDJHQF\0DQ\IDFWRUVDႇHFWSHUIRUPDQFH LQFOXGLQJFKDQJHVLQPDUNHWFRQGLWLRQVDQGLQWHUHVWUDWHVDQGLQUHVSRQVHWRRWKHUHFRQRPLFSROLWLFDORU¿QDQFLDOGHYHORSPHQWV,QYHVWPHQWLQYROYHVULVNLQFOXGLQJWKHSRVVLEOHORVVRISULQFLSDO SOHDVH
consult the Firm’s Form ADV Brochure for more detailed information on potential risks. No assurance can be given that the performance objectives of a given strategy will be achieved. Past performance is not a guarantee of future results.
This report is intended solely for the use of the client and may not be distributed or relied upon by any other party. Clients are encouraged to contact PTMA with any questions regarding the information presented herein.
Custodian Bank
$TXDOL¿HGFXVWRGLDQDVGH¿QHGXQGHU5XOH
RIWKH,QYHVWPHQW$GYLVHUV$FWRI
PDLQWDLQVFRQWURORIDOODVVHWVH[HFXWHVVHWWOHVDOOLQYHVWPHQWWUDQVDFWLRQVDQGSURYLGHVWKHRႈFLDOUHFRUGRI securities, investments, cash holdings and transactions. 7KHFXVWRGLDQZLOOSURYLGH\RXFXVWRGLDOVWDWHPHQWVDQG\RXDUHVWURQJO\HQFRXUDJHGWRFRPSDUH370$¶VVWDWHPHQWWRWKHFXVWRGLDQ¶V VWDWHPHQWDQGUHFRQFLOHDQ\GL௺HUHQFHV Please contact PTMA with any questions regarding discrepancies between your custodial statement and your PTMA statement. Many custodians use a VHWWOHPHQWGDWHEDVLVZKLFKPD\UHVXOWLQWKHQHHGWRUHFRQFLOHGXHWRDWLPLQJGLႇHUHQFH7KHFXVWRGLDQPD\DOVRSURYLGHDFFRXQWLQJLQIRUPDWLRQIRUDOODFFRXQWDVVHWVZKLFKPD\GLႇHUIURP\RXU UHFRUGVRUDFFRXQWLQJLQIRUPDWLRQSURYLGHGE\370$7KHFXVWRGLDQPD\XVHGLႇHUHQWSULFLQJVRXUFHVRUDGLႇHUHQWSULFLQJKLHUDUFK\WKDQ370$ZKLFKDOVRPD\FRQWULEXWHWRGLႇHUHQFHVLQWKHPDUNHW value of your Account.
Legal or Tax Information
370$DQGLWVHPSOR\HHVGRQRWRႇHUWD[RUOHJDODGYLFH<RXVKRXOGFRQVXOWZLWK\RXUWD[DQGRUOHJDODGYLVRUVEHIRUHPDNLQJDQ\WD[RUOHJDOUHODWHGLQYHVWPHQWGHFLVLRQV&RVWGDWDDQGUHDOL]HGJDLQV losses are provided for your informational purposes only. Please review for accuracy and consult your tax advisor to determine the tax consequences of your transactions. PTMA does not report such information to the IRS or other taxing authorities and is not responsible for the accuracy of such information that may be required to be reported. 67 DISCLAIMERS
January 1 - March 31, 2026
Account Assets, Cost, Valuation and Performance
In computing the market value of any asset of the Account, each security listed on any national securities exchange shall be valued at the last quoted sale price on the valuation date on the principal H[FKDQJHRQZKLFKVXFKVHFXULW\LVWUDGHG7KHPDUNHWYDOXHVRIPDQ\¿[HGLQFRPHVHFXULWLHVDUHSURYLGHGE\SULFLQJVHUYLFHVFRPSDQLHVZKLFKXWLOL]HSULFLQJHYDOXDWLRQVEDVHGRQYDULRXVPDUNHWDQG industry inputs. A hierarchy of pricing sources, which may include prices provided by PTMA, is used to provide a price for each security in this report. Although PTMA believes the price to be reliable, the YDOXHVRIWKHLQYHVWPHQWVGRQRWDOZD\VUHSUHVHQWWKHSULFHVDWZKLFKWKHLQYHVWPHQWVFRXOGKDYHEHHQERXJKWRUVROG7KHSULFHVSURYLGHGDUHQRW¿UPELGVRURႇHUV All return data that is provided includes the reinvestment of interest received and capital gains and is net of the expense ratio of each investment fund (as applicable). Where indicated, net returns include the deduction of management fees. Return information for periods greater than one year are annualized. When applicable, benchmark performance is provided for comparison purposes only. The EHQFKPDUNGDWDLVVRXUFHGIURPWKLUGSDUW\SURYLGHUVEHOLHYHGWREHUHOLDEOHEXWKDVQRWEHHQLQGHSHQGHQWO\YHUL¿HG7KHEHQFKPDUNVUHÀHFWWKHSHUIRUPDQFHRIXQPDQDJHGLQGLFHVDQGGRQRWLQFOXGH items like fees, expenses, or transaction costs. You cannot invest directly in the benchmark. Variances between your experience and the benchmark will exist based on tactical investment decisions and other factors. There is no guarantee your portfolio will outperform its benchmark.
Unmanaged Accounts or Assets
370$PD\SHUPLWFOLHQWVWRPDLQWDLQXQPDQDJHGDFFRXQWVRUH[WHUQDODVVHWVLQ370$¶VSRUWIROLRDFFRXQWLQJV\VWHPVROHO\IRUWKHSXUSRVHVRIFOLHQWUHSRUWLQJ370$GH¿QHVDQXQPDQDJHGDFFRXQW or asset as those for which PTMA does not contractually provide continuous and regular supervisory or management services as the Investment Manager. PTMA does not make any investment recommendations and may not charge an investment advisory fee for reporting on these accounts/assets. The primary purpose of this service is to include unmanaged accounts/assets owned by the client in consolidated reports provided by the Investment Manager. Values for unmanaged accounts/assets are shown based on information provided by the client or separate custodian. PTMA assumes no liability for the underlying value or performance, as applicable, of any unmanaged accounts or assets, and it is the client’s sole responsibility for the accuracy or correctness of any such information. 8QPDQDJHGDFFRXQWVRUH[WHUQDODVVHWVPD\QRWEHUHDGLO\LGHQWL¿DEOHDVVXFKLQWKH&OLHQW¶V$FFRXQWVWDWHPHQWRUUHSRUW Ratings
Information provided for ratings is based upon a good faith inquiry of selected sources, but their accuracy and completeness cannot be guaranteed. Standard & Poor’s and Moody’s ratings may represent WKHORQJWHUPUDWLQJRIWKHLVVXHRULVVXHUDVDYDLODEOH&UHGLWUDWLQJVDUHVXEMHFWWRFKDQJHDWDQ\WLPHDQGPD\QRWUHÀHFWWKHFXUUHQW¿QDQFLDOFRQGLWLRQRUFUHGLWZRUWKLQHVVRIWKHLVVXHU Account Control
370$GRHVQRWKDYHWKHDXWKRULW\WRZLWKGUDZIXQGVIURPWKHFOLHQW¶VDFFRXQWPDLQWDLQHGE\WKHTXDOL¿HGFXVWRGLDQH[FHSWLQOLPLWHGFLUFXPVWDQFHVDVDXWKRUL]HGE\WKHFOLHQWIRUWKHSD\PHQWRIWKH investment advisory fee. Our clients retain responsibility for their internal accounting policies, and for implementing and enforcing internal controls and generating ledger entries or otherwise recording transactions.
1RWL¿FDWLRQRI&KDQJHV
7 RDSSURSULDWHO\VHUYH\RXZHUHTXHVWWKDW\RXSURPSWO\QRWLI\XVRIDQ\PDWHULDOFKDQJHLQ\RXULQYHVWPHQWSROLF\LQYHVWPHQWREMHFWLYHRU¿QDQFLDOVLWXDWLRQ6XFKFKDQJHVPD\DႇHFW\RXUFXUUHQW investment strategy and asset allocation.
ADV Firm Brochure
PTMA Investment Advisors provides its clients with a written disclosure statement of its background and business experience. If you would like to receive another copy of the Firm Brochure, please visit the IAPD website at https://adviserinfo.sec.gov/.
Review of Report
Please review the contents of this information carefully. Should you have any questions regarding the information presented, calculation methodology, investment portfolio, security detail, or any other facet of this information, please feel free to contact us. For more information visit https://ptma.com/ ©2025 PTMA Financial Solutions
68