CITY OF HUNTINGTON BEACH
QUARTERLY INVESTMENT REPORT
CITY TREASURER, ALISA BACKSTROM, MBA, CCMT, CPFIM
QUARTER ENDED: DECEMBER 30, 2022
INVESTMENT PORTFOLIO – SUMMARY
at 12/ 31/ 22:
Investment Type
$ in millions Market Value Book Value
Federal Agency Issues 137.7$ 147.1$
CA Asset Management Program (CAMP) 19.1$ 19.1$ Treasury Securities 81.5$ 85.7$
Supranationals 27.1$ 29.1$
Corporate Bonds 38.5$ 39.6$
Commercial Paper 4.9$ 4.9$
TOTAL 308.7$ 325.4$
INVESTMENT PORTFOLIO – INVESTMENTS BY TYPE
at 12/ 31/ 22:
45% 26% 12% 9% 6% 2%
Federal Agencies Treasuries Corporate Bonds
MTN-Supras CAMP Commercial Paper
INVESTMENT PORTFOLIO – SELECTED ACTIVITY
Q U ART E R E ND 12/ 31/ 22:
MATURITIES
◼ L iquidity funds moved from L A IF to
CAMP
◼ $ 5 MM com m ercia l paper matured
P URCHAS ES
◼ $ 8 MM Fe d e ra l Agencies purchased
◼ $5MM corporate bond (Bristol -
M yers Squibb) purchased
◼ $ 5 MM com m e rcia l p a p e r
purchased
◼ $8MM U S T reasuries purchased
Current Year - Month
❑ December 2022: $462,460
❑ Up 77% from prior year
Current Fiscal Year-to-date ❑ Through 12/30/22: $2,232,897 ❑ Up 43% from prior year
Effective Rate of Return
❑ December 2022: 1.74%
❑ Fiscal Year-to-date: 1.44%
Benchmark ❑ December 2022: 2.84%
❑ 12-month moving average 1.5-year Treasury
INVESTMENT PORTFOLIO – EARNINGS
MO NT H/ Q U ART E R E ND 12/ 31/ 22:
INTEREST RATES – US CONSTANT MATURITY TREASURY RATES
J ANU ARY 1, 2022 – DECEMBER 30, 2022:
2-year US Treasury
4. 41%
at 12 / 3 0
5-year US Treasury
3 .9 9%
at 12 / 3 0
SELECTED INVESTMENT POLICY COMPLIANCE REQUIREMENTS
at 12/ 31/ 22:
(Requirements are at purchase)
INVESTMENT TYPE MAXIMUM
MATURITY
MAXIMUM SPECIFIED
%/$ OF PORTFOLIO/
MAXIMUM PER ISSUER
MINIMUM QUALITY
REQUIREMENTS IN COMPLIANCE
Commercial Paper 270 days 25%/10% A1, "A" Rating YES
U.S. Treasuries 5 years None None YES
Federal Agencies 5 years None None YES
Supranationals 5 years 10% "AA" Rating YES
Corporate Bonds 5 years 30%/10% "A" Rating YES
CA Asset Mgt
Program (CAMP) N/A Up to $75,000,000 None YES
SUMMARY:
◼Saf et y – No principal losses
◼Liquidity – Sufficient funds for operations
◼Market rate of return – 1.74% December, 1.44% fiscal year-to- date (upward trend)
◼Prudently managed – No compliance issues
◼Positive contributor to C ity – Earnings of $2.23 million fiscal- year-to-date 2022-23