CITY OF LAGUNA NIGUEL
CITY COUNCIL AGENDA ITEM
1989
To: Honorable Mayor and Council Members
FROM: Tamara S. Letourneau, City Manager
DATE: February 18, 2025
SUBJECT: Investment Report as of December 31, 2024
RECOMMENDATION
Staff recommends that the City Council receive and file the City of Laguna Niguel Investment Report as of December 31, 2024.
BACKGROUND
The City Investment Policy requires the City Manager to submit an Investment Report monthly to the City Council that contains a summary of investment transactions, including investment types, percent of portfolio, yield, purchase date, maturity date, issuer or institution, par and dollar amount invested, market value, source of market valuation, the portfolio's average weighted yield and maturity, and a description of any local agency funds or investments under the management of contracted parties.
Submission of, and the City Council's action of receiving and filing this report, addresses Goal #2, fiscal sustainability, in the City's Strategic Plan.
ANALYSIS
At the first Federal Open Market Committee (FOMC) meeting in 2025, the Committee unanimously elected to maintain the target range for federal funds at 4.25-4.50%. This move was in line with market expectations. And despite a new White House administration, expectations around future rate setting policy have remained relatively unchanged. For example, the CME FedWatch tool is predicting a greater than 96% chance the fed funds rate will be at or above 3.50% at the end of December 2025. A screenshot of the tool is provided on the next page.
This is significant because the City has $18.8 million in securities maturing in 2025. With most of that $18.8 million underperforming as compared to the current Fed Funds rate, the City will be able to invest those funds at a significantly higher yield and potentially lock in a much higher yield for up to ten years. Both the 5-year and 10-year Treasury rates remain near 20-year highs, so this is a great time to have liquidity available to re-enter the market.
The City's current weighted average yield is 2.93%, however, if it was assumed the $18.8
million were re-invested at 3.75%, the weighted average yield will increase by 70 basis points to 3.63%. That 3.63% yield would represent the highest yield the City has earned in over fifteen years!
FedWatch Tool
Tafoet Kale 19Mar5 MarS 1Jun2s30Ju2 30Ju Sc0z5 29 0029 28 Jan26 18 Mars 294p28 17 Jun28 29Ju26 16 Sep26 230c26 9 0ec26
MEETING INFORMATON PROBABILITIES
MEEING DATE CONTRACT EXPIRES MID PRICE PRION VOLUME PRIOR OF EASE
NO CHANGE HIKE
10 Dec 2025 ZOzS 31 Dec 2025 96 0325 900g 826 % 174% 00% TARGET RATE PROBABILITIES FOR 10 DEC 2025 FED MEETING
histoncal
Current target rate is 425-450
Historical 100%
Downloads
ГЛО ПІКОЯ
Dot Plot
Chart
Tools
CVOL
SOER WatCh
ESTR Watch
35.5%
29.8%
17.4%
3.4%
325-350 350-375 400-425 325-450
laroeckate lin bosi
Source: CME FedWatch Tool
The City has strategically staggered the maturity schedule for the portfolio so there is a minimum of $7.0 million maturing in each of the next five years. That total doesn't include the additional $7.0-$10.0 million typically invested in the short-term money market or investment pool accounts. The City will have a sufficient amount of liquidity to fund ongoing operations while being able to significantly increase the yield and duration of the entire portfolio.
CITY OF LAGUNA NIGUEL Page 15 of 16
ACCOUNT NUMBER: 6736304200 January 1, 2025 to January 31. 2025
BOND SUMMARY
40%
32%
24%
16%
8%
0%
2025 2026 2027 2028 2029 2030 2031 2032 2033 2034
Percentage of
Par Value Market Value Category
MATURITY
2025 18.654.648.50 31.92
2026 7.254.800.00 12.42
2027 6,889,790.00 11.79
2028 7.250,000.00 7.266.827.50 12.43
2029 10,250.000.00 10,090.927.50 17.26
2030 0.00 0.00 0.00
2031 0.00 0.00
2032 0.00 0.00
2033 1.500.000 d 497,945.0
2034 7.000.000.0 .791,870.01 1262
Total of Category $59,325,000.00 S58,446,808.50 100.00
The following table compares the portfolio balance as of December 2024 to November 2024.
Portfolio Balance November 2024 December 2024 Difference Balance $58,277,925 $61,137,884 $2,859,959
• Over the past month, the City's total cash and investments experienced a net increase of $2,859,959. The City received another $5.5 million allotment of property taxes in December. As the City historically receives a large allotment of property taxes during these months, the City's total cash and investments balances typically increases on a month-over-month basis at this time of year. • The percentage of pooled investments decreased to 0.17%. Pooled investments include the Local Agency Investment Fund (LAIF) and the Orange County Investment Pool (OCIP).
• The average weighted maturity of City investments, including investment pools and money market, increased to 842 days. With the City focusing on longer- term investments, the average weighted maturity should continue to increase over the next several months. The average weighted maturity of City investments, including investment pools and money market, is calculated as follows: Sum of days left until maturity of each individual investment multiplied by the cost of each individual investment divided by the total portfolio at cost, excluding cash in bank
• The net yield of LAIF decreased from 4.477% to 4.434%. The net yield of OCIP decreased from 4.348% to 4.301%. The net yield for the First American money market funds in the City's custodian account decreased from 4.510% to
4.330%. This is the third consecutive month each of the money market, OCIP and LAIF rates all decreased in this rate cycle. The Fed Funds rate and the LAIF/PMIA rate are nearly even.
Average Monthly Yield Comparison - 12/2019 through 12/2024
6.00%
5.00% → PMIA
4.00% — S&P GIP
3.00% •--- Fed Funds
2.00%
1.00%
0.00%
312020 6/2022 9/2022 12/2022 3/2023 6/2023 шШ!!
• The average weighted yield of City investments, including investment pools and money market, increased from 2.895% to 2.937%. The increase is mostly due to an increase in the overall portfolio, as the money market accounts are yielding 4.330% on average. The City's average weighted yield of City investments, including investment pools and money market, is calculated by
taking the total investment earnings divided by the total portfolio at cost, and includes cash in the sweep investments.
• A comparison of the City's average weighted yield to short-term and long-term benchmarks is presented below:
City Portfolio Benchmark Comparisons
Average 5-Year 1-Year 6-Month OCIP LAIF
Weiahted Treasury Treasury Treasury
Yield
2.895% 4.380% 4. 160% 4.240% 4.301% 4.434%
The monthly Investment Report as of December 31, 2024, is attached.
ALTERNATIVES CONSIDERED
The City Council can choose not to receive and file the City of Laguna Niguel Investment Report as of December 31, 2024.
FISCAL REVIEW
There is no fiscal impact as a result of this action.
CONCLUSION
The City Investment Policy requires the submittal of a monthly Investment Report. Staff recommends that the City Council receive and file this Report.
Sanasa S Detousseau In
Tamara S. Letourneau Trevor Agrelius
City Manager Finance Director
Attachment:
A. Monthly Investment Report as of December 31, 2024
ATTACHMENT A
Investment Report as of December 31, 2024
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
as of
December 31, 2024
Tamara S. Letourneau
CITY MANAGER
Trevor Agrelius
FINANCE DIRECTOR
February 18, 2025
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
TABLE OF CONTENTS
Statement of Compliance/Non-Compliance 1
Report of Cash and Investments 2
LAIF Investment Reports 3-5
OCIP Investment Reports 6-9
US Bank Statement 10-25
PARS Statement 26
City of Laguna Niguel
Statement of Compliance/Non-Compliance with the City's Investment Policy The undersigned officers of the City of Laguna Niguel hereby certify that:
As of December 31, 2024, the City was in compliance with the Investment Policy adopted at the June 4, 2024, Regular City Council Meeting.
Sufficient investment liquidity from cash and cash equivalents and anticipated revenues are available to meet the City's budgeted expenditure requirements for the next six months.
Jenas Stuseau In An
Tamara S. Letourneau Trevor Agrelius
City Manager Finance Director
City of Laguna Niguel
Summary of Cash and Investments
12/31/2024
settemen Maturity Coupon Purchased
Description Date Rate Yield Cost
Petty Cash/Change Drawers $ 2,500.00 2,500.00
US Bank Checking & Investment Accounts 4.145% 4,719,121.84 4,719,121.84 US Bank Money Market 4.330% 194,581.63 194,581.63
Local Agency Investment Fund 4.434% 105,399.23 105,399.23 Orange County Investment Pool 4.301% 310.49 310.49
US Treasury Note:
912810EV6 6/22/2023 8/15/2025 6.875% 3.750% 2,104,000.00 2,036,880.00 91282CJK8 11/30/2023 11/15/2026 4.625% 3.500% 1,008,640.00 1,006,520.00 91282CJA0 11/10/2023 9/30/2028 4.625% 4.500% 1,005,380.00 1,009,350.00 91282CJN2 12/8/2023 11/30/2028 4.375% 4.020% 2,031,720.00 91282CHD6 4/12/2024 3/31/2029 4.250% 4.500% 205-5000
1,475,175.00
91282CFJ5 10/24/2024 8/31/2029 3.505% 4.000% 961,730.00 947,190.00 91282CLN9 11/6/2024 9/30/2029 4.310% 970,990.00 962,190.00 91282CMA6 12/20/2024 11/30/2029 4.125% 4.330% 990,940.00 988,640.00 91282CLF6 10/9/2024 8/15/2034 3.875% 4.079% 1,955,400.00 1,891,080.00 91282CLW9 12/20/2024 11/30/2028 4.250% 4.349% 3,968,200.00 3,895,760.00 Certificates of Deposit: 7.36%
949764GT5 10/24/2023 4/24/2025 5.500% 3.750% 250,000.00 250,930.00 83407DBPO 10/30/2023 4/30/2025 5.450% 3.750% 250,000.00 250,885.00 15140RCY3 7/25/2023 7/26/2027 4.700% 4.700% 250,000.00 254,095.00 8562834C7 7/31/2023 8/2/2027 4.600% 4.600% 250,000.00 253,517.50 15118RM38 12/8/2023 12/8/2027 4.600% 4.600% 250,000.00 254,115.00 33610RVD2 12/12/2023 12/10/2027 4.550% 4.550% 250,000.00 253,797.50 05580AY24 7/18/2023 4/14/2028 4.400% 4.408% 249,875.00 252,980.00 2546733V6 7/18/2023 4/17/2028 4.400% 4.408% 249,875.00 253,067.50 20033A412 7/26/2023 7/26/2028 4.450% 4.450% 250,000.00 253,707.50 062119CD2 7/28/2023 7/28/2028 4.500% 4.500% 250,000.00 254,130.00 02589AF64 11/1/2023 11/1/2028 5.000% 5.000% 250,000.00 258,762.50 87165E3V7 11/3/2023 11/3/2028 5.000% 5.000% 250,000.00 258,772.50 795451DH3 12/13/2023 12/13/2028 4.400% 4.400% 250,000.00 253,560.00 58404DTX9 12/22/2023 12/22/2028 4.300% 4.300% 250,000.00 252,725.00 32110YK46 12/28/2023 12/28/2028 4.300% 4.300% 250,000.00 252,735.00 848608FB6 1/31/2024 1/31/2029 3.950% 3.950% 250,000.00 249,530.00 903572GQ2 2/14/2024 2/14/2029 3.950% 3.950% 250,000.00 249,497.50 89235MPR6 6/28/2024 6/28/2029 4.500% 4.500% 250,000.00 255,035.00 Federal Home Loan Mortgage Corporation:
3137EAEP0 1/29/2021 2/12/2025 1.500% 3.750% 4,188,112.71 3,987,000.00 Federal National Mortgage Association:
3135G05X7 1/29/2021 8/25/2025 0.375% 3.750% 8,645,922.29 8,482,152.00 Federal Farm Credit Banks:
3133EPYW9 10/20/2023 10/20/2025 5.125% 3.750% 999,000.00 1,006,740.00 3133ENVD9 4/26/2022 4/26/2027 2.875% 2.900% 3,995,360.00 3,867,280.00 3133EPH81 12/8/2023 10/4/2027 4.500% 4.150% 2,024,580.00 2,008,400.00 3133EPW84 1/30/2024 1/18/2029 3.875% 3.930% 2,493,800.0 2,450,575.00 3133EP389 2/26/2024 2/13/2029 4.125% 4.200% 1,494,975.00 1,483,245.00 Federal Home Loan Banks: 18.49% 25.00%
3130AWLY4 7/25/2023 6/13/2025 5.125% 3.750% 1,004,010.00 1,003,550.00 3130AJTF6 7/14/2020 7/14/2025 0.740% 3.750% 1,000,000.00 981,540.00 3130AJTX7 7/21/2020 7/21/2025 0.720% 3.750% 625,000.00 612,943.75 3130AMFS6 8/12/2021 6/12/2026 0.750% 3.500% 2,001,415.36 1,900,460.00 3130A8XY4 10/18/2021 9/11/2026 1.875% 3.500% 4,665,690.00 4,318,515.00 3130AWC24 6/23/2023 6/9/2028 4.000% 3.930% 2,006,180.00 1,973,960.00
57.48% 60.00%
Total City Investments Including Investment Pools 3 61,137,883.55 93.51% 359.893,801.41 Restricted for Specific Use
PARS 115 Pension Trust $ 2,000,000.00 20.00% $ 2,288,081.82 Average weighted maturity of Investments, excluding investment Pools: 917 days Average weighted maturity of Investments, including Investment Pools and Money Market: 842 days Average weighted yield of Investments, excluding Investment Pools 3.869% Average weighted yield of investments, including investment Pools and Money Market 3.893% * Market value of City investments is provided by US Bank 2 1/9/25. 1:45 PM LAIF Regular Monthly Statement
California State Treasurer
Fiona Ma, CPA
Local Agency Investment Fund January 09, 2025
P.O. Box 942809
Sacramento, CA 94209-0001 LAIF Home
(916) 653-3001 PMIA Average Monthly
Yields
CITY OF LAGUNA NIGUEL
TREASURER
30111 CROWN VALLEY PARK WAY
LAGUNA NIGUEL, CA 92677
Tran Type Definitions
Account Number: 98-30-408
December 2024 Statement
Account Summary
Total Deposit: 0.00 Beginning Balance: 105,399.23
Total Withdrawal: 0.00 Ending Balance: 105,399.23
3 https://laifms.treasurer.ca.gov/RegularStatement.aspx 1/1 PMIA/LAIF Performance Report
as of 02/05/25
Quarterly Performance PMIA Average Monthly
Quarter Ended 12/31/24 Effective Yields(2)
LAIF Apportionment Rate: 4.62 January 4.366
LAIF Earnings Ratio 12). 0.00012664187216722 December 4.434 LAIF Administrative Cost(2)*, 0.28 November 4.477
LAIF Fair Value Factor?). 0.999621985 October 4.518
PMIA Daily). 4.40 September 4.575
PMIA Quarter to Date("). 4.48 August 4.579
PMIA Average Life( 252
Pooled Money Investment Account
Monthly Portfolio Composition (1)
12/31/24
$155.4 billion
Corporate
Commercial Bonds
Paper 0.58%
Time 6.40%
Loans
Deposits _0.13%
3.27%
Certificates of
Deposit/Bank Notes
8.46%
Treasuries
55.91%
Agencies
25.25%
Chart does not include $1,239,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.
Daily rates are now available here. View PMIA Daily Rates Notes The reportement note indudes net en per on the liFe Sulent pension lyment pursuent to overnment Code 20825 *The percentage of administrative cost equals the total administrative cost divided by the quarterly interest earnings. The law provides thai administrative costs are not to exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rate on the last day oj the fiscal year is below 1%, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fund for the subsequent fiscal year.
Source:
(1) State of California, Office of the Treasurer
2) State of California, Office of the Controlle
4 State of California
Pooled Money Investment Account
Market Valuation
SATY LAUDIT HED 12/31/2024
Carrying Cost Plus
Description Accrued Interest Purch. Amortized Cost Fair Value Accrued Interest United States Treasury:
Bills $ 37,200,362,729.27 $ 37,578,467,975.08 $ 37,598,038,116.50 NA Notes $ 49,665,562,393.13| $ 49,643,342,570.29 $ 49,613,793,037.00 $ 456,248,631.50 Federal Agency:
SBA $ 222,988,043.71 222,988,043.71 $ 224,917,838.54 $ 986,692.09 MBS-REMICs $ 1,239,158.24 $ 1,239,158.24 1,224,593.17 $ 5,405.72 Debentures $ 7.776.611,325.51 $ 7,776,123,304.68 7,750,461,150.00 $ 83,135,528.50 Debentures FR $ $ $
Debentures CL $ 2,550,000,000.00 $ 2,550,000,000.00 2,548,389,000.00 $ 21,607,623.50 Discount Notes $ 25,790,437,970.76 $ 26,046,333,391.63 26,049,911,000.00 NA Supranational Debentures $ 2,896,697,399.81 $ 2,896,274,656.75 $ 2,873,776,000.00 $ 30,191,592.50 Supranational Debentures FR $ $ $ - $ -
CDs and YCDs FR $ $ - $ $
Bank Notes $ $ $
CDs and YCDs $ 13,150,000,000.00 $ 13,150,000,000.00 $ 13,151,991,371.89 $ 189,510,569.41 Commercial Paper $ 9,942,308,583.28 $ 10,047,868,071.48 $ 10,051,627,805.51 NA Corporate:
Bonds FR $ $ $
Bonds $ 898,812,556.16| 898,667,140.88 888,168,435.00 8,541,998.72 Repurchase Agreements $ $ $
Reverse Repurchase $ $ $ $
Time Deposits $ 5,088,500,000.00 $ 5,088,500,000.00 $ 5,088,500,000.00 NA PMIA & GF Loans $ 194,249,000.00 $ 194,249,000.00 $ 194,249,000.00 NA TOTAL $ 155,377,769,159.87 $ 156,094,053,312.74 156,035,047,347.61 I$ 790,228,041.94 Fair Value Including Accrued Interest $ 156,825,275,389.55 Repurchase Agreements, Time Deposits, PMIA & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost).
The value of each participating dollar equals the fair value divided by the amortized cost (0.999621985).
As an example: if an agency has an account balance of $20,000,000.00, then the agency would report its participation in the LAIF valued at $19,992,439.69 or $20,000,000.00 x 0.999621985.
COUNTY OF ORANGE
OFFICE OF THE TREASURER-TAX COLLECTOR DANCE COUNT
Shari L. Freidenrich, CPA, CCT, CPFA, ACPFIM
P. O. BOX 4515
CLIFORNTE SANTA ANA, CA 92702-4515
octreasurer.gov/publicfunds
December 31, 2024
CITY OF LAGUNA NIGUEL
Fund Number: 9LQ
DECEMBER 2024 STATEMENT
Transactions
Transaction Transaction Description
Date Authorized Signer Amount
12/02/2024 November 2024 Investment Admin Fee (3.31)
12/19/2024 September 2024 Interest Paid 293.36
12/20/2024 Withdrawal Trevor Agrelius $ (80,000.00)
Summary
Total Deposit: $ 293.36 Beginning Balance: $ 80,020.44
Total Withdrawal: $ (80,003.31) Ending Balance: $ 310.49
ORANGE COUNTY TREASURER-TAX COLLECTOR
ORANGE COUNTY INVESTMENT FUND (OCIF)
ORANGE COUNTY TREASURER'S POOL (OCTP), SPECIFIC INVESTMENT AND BOND PROCEEDS ACCOUNTS ( FOR THE MONTH AND QUARTER ENDED DECEMBER 31, 2024
OCT INVESTMENT STATISTICS
DESCRIPTION CURRENT BALANCES Duration Daily Yield as MONTHLY QUARTERLY Current NAV of 12/31/2024 Gross Yield Gross Yield
Market Value 16,607,935,486
Cost (Capital) s 16,539,075,370
Orange County Treasurer's Pool (OCTP) Monthly Avg Balance S 16,035,687,692 0.75 4.301% 4.282% 4.324% 1.0000 QUARTERLY AVG Balance S 14,694,316,460
Book Value $ 16,608,675,519
SPECIFIC INVESTMENT ACCOUNTS STATISTICS
DESCRIPTION CURRENT BALANCE Fund MONTHLY QUARTERLY MARKET Value Book Value Current NAV Gross Yield Gross Yield
Pension Prepayment-CEO (PP-CEO) Market Value! s 547,474,227 PP-CEO 5.105% 5.105% 513,975,429 512,079,390 1.0037 Fountain Valley School District Fund 40 (FVSD) Cost (Capital) $ 532,390,205 FVSD 2.901% 2.907% 33,498,798 33,892,011 0.9884 Monthly Avg Balance S 532,390,205
QUARTERLY AVG Balance S 532,390,205
Book Value S 545,971,401
BOND PROCEEDS ACCOUNT STATISTICS 12)
DESCRIPTION CURRENT BALANCE Fund MONTHLY QUARTERLY MARKET Value Book Value Current NAV Gross Yielc Gross Yield
CCCD Series 2017E Bonds (CCCD) Market Value!) $ 22,757,879 CCCD 3.075% 3.100% 22,757,879 24,321,158 0.9357 Cost (Capital) $ 25,362,332
Monthly Avg Balance $ 25,351,097
QUARTERLY AVG Balance $ 25,303,466
Book Value S 24,321,158
OCIF TOTALS
INVESTMENTS & CASH YEAR-TO-DATE EARNINGS
OCT Investments at Cost 16,539,075,370 OCTP 320,148,828 OCT Cash 15,752,403 OCIP 143,245,666
OCEIP 176,903,162
Specific Investment Accounts at Cost 532,390,205 Specific Investment Accounts 13,330,001 Bond Proceeds Account at Cost 25,362,332 Bond Proceeds Account 403,905 Total Assets in the County Treasury 17.112,580,310 | Total OCIF Year-To-Date Earnings 333,882,734
INTEREST RATE YIELD WEIGHTED AVERAGE MATURITY (WAM)
OCT - YTD NET YIELD 4.312% OCTP 286
90-DAY T-BILL YIELD - YTD AVERAGE 4.907% LGIP (Standard & Poors) 37 ) Reported in compliance with the 2024 IPS Section XII that requires at least quarterly reporting per Government Code Section (GCS) 53646 and 27134, and GCS 53607 which requires monthly investment transactions:
ported in the pages followin
(2) The market values of FVSD and CCCD continue to stay below book values. The FVSD and CCCD have sufficient liquidity to meet projected cash flow needs. (3) Market values provided by Northern Trust and exclude accrued interest. 5 ORANGE COUNTY TREASURER-TAX COLLECTOR
SUMMARY OF INVESTMENT DATA - ORANGE COUNTY TREASURER'S POOL
INVESTMENT TRENDS
INCREASE INCREASE
DECEMBER 2024 NOVEMBER 2024 NET CHANGE % DECEMBER 2023 NET CHANGE % (DECREASE) (DECREASE)
End Of Month Market Value!? $ 16,607,935,486 $ 14,342,347,238 2,265,588,248 15.80% $ 16,371,516,176 236,419,310 1.44% End Of Month Book Value? $ 16,608,675,519 $ 14,341,972,751 2,266,702,768 15.80% $ 16,424,652,838 184,022,681 1.12% Monthly Average Balance? $ 16,035,687,692 $ 14,185,273,736 1,850,413,956 13.04% $ 15,953,786,310 81,901,382 0.51% Year-To-Date Average Balance $ 14,410,450,480 14,085,403,037 $ 325,047,443 2.31% $ 14,234,837,766 175,612,714 1.23% Monthly Accrued Earnings? 58,641,770 $ 51,634,267 $ 7,007,503 13.57% 59,992,997 (1,351,227) -2.25% Monthly Net Yield 4.242% 4.323% -0.081% -1.86% 4.348% -0.106% -2.43% Year-To-Date Net Yield 4.312% 4.328% -0.016% -0.36% 4.059% 0.253% 6.24% Annual Estimated Gross Yield* 4.000% 3.500% 0.500% 14.29% 4.280% -0.280% -6.54% Weighted Average Maturity (WAM) 286 313 (27) -8.63% 290 (4) -1.38% 1 Market values provided by Northern Trust and exclude accrued interest. 2 The OCT End of Month Market Value, End of Month Book Value and Monthly Average Balance are higher than the prior month due to higher property tax receipts in December. 3 The OCT Monthly Accrued Earnings are higher than the prior month due to a higher average balance in December than November. 4 The Annual Estimated Gross Yield is higher than the prior month due to an update of the forecast. The Annual Estimated Gross Yield for December 2023 is reported at the actual annual gross yields for FY 23-24. 6 ORANGE COUNTY TREASURER'S POOL
INVESTMENT TYPE AND CREDIT QUALITY BY MARKET VALUE
December 31, 2024
Investment Type Credit Quality
0.01%
100% 0.01%
100%
9.89%
90% 90%
80% 21.39% 80%
70% 70%
60% 60%
50% Security Type in Percent 50% 99.99%
Investment Type in Percent
40% 40%
68.71%
30% 30%
20% 20%
10% 10%
0% 0%
In Thousands In Thousands
IU. S. GOVERNMENT AGENCIES 11,409,938 68.71% US GOVERNMENT $ 16,606,527 99.99% U. S. TREASURIES 3,553,247 21.39% NOT RATED 1,408 0.01% MONEY MARKET MUTUAL FUNDS 1,643,342 9.89% 16,607,935 100.00% LOCAL AGENCY INVESTMENT FUND 1,408 0.01%
16.607,935 100.00%
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CITY OF LAGUNA NIGUEL Page 1 of 16
ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024
MARKET VALUE SUMMARY
Current Period
12/01/24 to 12/31/24
Change: 2,941,713.88
Beginning Market Value $52,114,756.00 $70,000,000
Taxable Interest 152,243.63 $60,000,000
Cash Receipts 3,000,000.00 $50,000,000
Long Term Gains/Losses 7,187.50 $40,000,000
Change in Investment Value -217,717.25 $30,000,000
$20,000,000
Ending Market Value $55,056,469.88
$10,000,000
$0'
Beginning Ending
MV MV
$52,114,756.00 $55,056,469.88
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ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024
ASSET SUMMARY
Current Period % of Estimated
Assets Market Value Total Annual Income
Cash & Equivalents 194,581.63 0.40 8,429.14
Taxable Bonds 54,861,888.25 99.60 1,690,900.00
Total Market Value $55,056,469.88 100.00 $1,699,329.14
Fixed Income Summary
Corporate Issues
$4,561,842.50
US Government Issues
$50.300.045.75
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CITY OF LAGUNA NIGUEL Page 3 of 16
ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024
INCOME SUMMARY
Income Received
Current Period
Taxable Interest 152,243.63
Total Current Period Income $152,243.63
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ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024
CASH SUMMARY
Cash
Beginning Cash 12/01/2024 $0.00
Taxable Interest 152,243.63
Cash Receipts 3,000,000.00
Purchases -4,959,140.00
Sales 1,000,000.00
Net Money Market Activity 806,896.37
Ending Cash 12/31/2024 $0.00
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ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024
ASSET DETAIL
Security Description Percent
Unrealized of Total Estimated Estimated
Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Cash & Equivalents
Cash/Money Market
First American Treasury Oblig - 31846V542
Fd CIZ
#3678
194,581.630 1.0000 194,581.63 194,581.63 0.00 0.4 8,429.14 4.33 Total Cash/Money Market $194,581.63 $194,581.63 $0.00 0.4 $8,429.14 Total Cash & Equivalents $194,581.63 $194,581.63 $0.00 0.4 $8,429.14 Taxable Bonds
US Government Issues
3137EAEP
HD 02/2.202
4,000,000.000 99.6750 3,987,000.00 4, 188,112.71 -201,112.71 7.2 60,000.00 1.50 F N MA - 3135G05X7
).375 08/25/202:
8,700,000.000 97.4960 8,482,152.00 8,645,922.29 -163,770.29 15.4 32,625.00 0.38 Federal Farm Credit Bks - 3133ENVD9
2.875 04/26/2027
4,000,000.000 96.6820 3,867,280.00 3,995,360.00 -128,080.00 7.0 115,000.00 2.97 Federal Farm Credit Bks - 3133EPW84
3.875 01/18/2029
2,500,000.000 98.0230 2,450,575.00 2,493,800.00 -43,225.00 4.5 96,875.00 3.95 Federal Farm Credit Bks - 3133ЕP3B9
4.125 02/13/2029
1,500,000.000 98.8830 1,483,245.00 1,494,975.00 -11,730.00 2.7 61,875.00 4.17 14 25849
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CITY OF LAGUNA NIGUEL Page 6 of 16
ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024 ASSET DETAIL (continued)
Security Description Percent
Unrealized of Total Estimated Estimated
Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Federal Farm Credit Bks - 3133EPH81
4.500 10/04/2027
2,000,000.000 100.4200 2,008,400.00 2,024,580.00 -16,180.00 3.6 90,000.00 4.48 Federal Farm Credit Bks - 3133EPYW9
5.125 10/20/2025
1,000,000.000 100.6740 1,006,740.00 999,000.00 7,740.00 1.8 51,250.00 5.09 Federal Home Loan Bks - 3130AJTX7
0.720 07/21/2025
625,000.000 98.0710 612,943.75 625,000.00 -12,056.25 1.1 4,500.00 0.73 Federal Home Loan Bks - 3130AJTF6
0.740 07/14/2025
1,000,000.000 98.1540 981,540.00 1,000,000.00 -18,460.00 1.8 7,400.00 0.75 Federal Home Loan Bks - 3130AMFS6
0.750 06/12/2026
2,000,000.000 95.0230 1,900,460.00 2,001,415.36 -100,955.36 3.5 15,000.00 0.79 Federal Home Loan Bks - 3130A8XY4
1.875 09/11/2026
4,500,000.000 95.9670 4,318,515.00 4,665,690.00 -347,175.00 7.8 84,375.00 1.95 Federal Home Loan Bks - 3130AWC24
4.000 06/09/2028
2,000,000.000 98.6980 1,973,960.00 2,006,180.00 -32,220.00 3.6 80,000.00 4.05 Federal Home Loan Bks - 3130AWLY4
5.125 06/13/2025
1,000,000.000 100.3550 1,003,550.00 1,004,010.00 -460.00 1.8 51,250.00 5.11 US Treasury Bond - 912810EV6
6.875 08/15/2025
2,000,000.000 101.8440 2,036,880.00 2,104,000.00 -67,120.00 3.7 137,500.00 6.75 U S Treasury Note - 91282CFJ5
3.125 08/31/2029
1,000,000.000 94.7190 947,190.00 961,730.00 -14,540.00 1.7 31,250.00 3.30 15 25849
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ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024 ASSET DETAIL (continued)
Security Description Percent
Unrealized of Total Estimated Estimated
Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield U S Treasury Note - 91282CLN9
3.500 09/30/2029
1,000,000.000 96.2190 962,190.00 970,990.00 -8,800.00 1.7 35,000.00 3.64 U S Treasury Note - 91282CLF6
3.875 08/15/2034
2,000,000.000 94.5540 1,891,080.00 1,955,400.00 -64,320.00 3.4 77,500.00 4.10 US Treasury Note - 91282CKG5
4.125 03/31/2029
1,500,000.000 99.0170 1,485,255.00 1,475,175.00 10,080.00 2.7 61,875.00 4.17 US Treasury Note - 91282CMA6
4.125 11/30/2029
1,000,000.000 98.8640 988,640.00 990,940.00 -2,300.00 1.8 41,250.00 4.17 US Treasury Note - 91282CLW9
4.250 11/15/2034
4,000,000.000 97.3940 3,895,760.00 3,968,200.00 -72,440.00 7.1 170,000.00 4.36 US Treasury Note - 91282CJ2
4.375 11/30/2028
2,000,000.000 100.0410 2,000,820.00 2,031,720.00 -30,900.00 3.6 87,500.00 4.37 US Treasury Note - 91282CJAO
4.625 09/30/2028
1,000,000.000 100.9350 1,009,350.00 1,005,380.00 3,970.00 1.8 46,250.00 4.58 US Treasury Note - 91282CJK8
4.625 11/15/2026
1,000,000.000 100.6520 1,006,520.00 1,008,640.00 -2,120.00 1.8 46,250.00 4.59 Total US Government Issues $50,300,045.75 $51,616,220.36 -$1,316,174.61 91.4 $1,484,525.00 Corporate Issues
Cmerican Express Natt BK - 02589AF64
5.000 11/01/2028
250,000.000 103.5050 258,762.50 16 250,000.00 8,762.50 0.5 12,500.00 4.83 25849
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ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024 ASSET DETAIL (continued)
Security Description Percent
Unrealized of Total Estimated Estimated
Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Bank Five Nine Oconomowoc Wis - 062119CD2
4.500 07/28/2028
250,000.000 101.6520 254,130.00 250,000.00 4,130.00 0.5 11,250.00 4.43 Bmw Bk North Amer Salt Lake City - 05580AY24
4.400 04/14/2028
250,000.000 101.1920 252,980.00 249,875.00 3,105.00 0.5 11,000.00 4.35 Celtic Bk Salt Lake City Utah - 15118RM38
4.600 12/08/2027
250,000.000 101.6460 254,115.00 250,000.00 4,115.00 0.5 11,500.00 4.53 Centier Bk Whitting Ind - 15140RCY3
C D
4.700 07/26/2027
250,000.000 101.6380 254,095.00 250,000.00 4,095.00 0.5 11,750.00 4.62 Commity Cap Bk Draper - 20033A./2
4.450 07/26/2028
250,000.000 101.4830 253,707.50 250,000.00 3,707.50 0.5 11,125.00 4.38 Discover Bk Greenwood Del - 2546733V6
CD
4.400 04/17/2028
250,000.000 101.2270 253,067.50 249,875.00 3,192.50 0.5 11,000.00 4.35 First Natl Bk Amer East Lans - 32110YK46
4300 1222812028
250,000.000 101.0940 252,735.00 250,000.00 2,735.00 0.5 10,750.00 4.25 First Premier Bk Sioux Falls - 33610RVD2
C D
4.550 12/10/2027
250,000.000 101.5190 253,797.50 250,000.00 3,797.50 0.5 11,375.00 4.48 17 25849
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ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024 ASSET DETAIL (continued)
Security Description Percent
Unrealized of Total Estimated Estimated
Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Medallion Bk Utah - 58404DTX9
C D
4.300 12/22/2028
250,000.000 101.0900 252,725.00 250,000.00 2,725.00 0.5 10,750.00 4.25 Sallie Mae Bk Salt Lake City - 795451DH3
4.400 12/13/2028
250,000.000 101.4240 253,560.00 250,000.00 3,560.00 0.5 11,000.00 4.34 Sofi Bk Natl Assn Cottonwood H - 83407DBPO
5.450 04/30/2025
250,000.000 100.3540 250,885.00 250,000.00 885.00 0.5 13,625.00 5.43 Spiritbank Tulsa Okla - 848608FB6
CD
3.950 01/31/2029
250,000.000 99.8120 249,530.00 250,000.00 -470.00 0.5 9,875.00 3.96 State Bk India Chicago III - 8562834C7
4.600 08/02/2027
250,000.000 101.4070 253,517.50 250,000.00 3,517.50 0.5 11,500.00 4.54 Synchrony Bank CD- 87165E3V7
5.000 11/03/2028
250,000.000 103.5090 258,772.50 250,000.00 8,772.50 0.5 12,500.00 4.83 Toyota Finl Svgs Bk Hend Nv - 89235MPR6
4.500 06/28/2029
250,000.000 102.0140 255,035.00 250,000.00 5,035.00 0.5 11,250.00 4.41 Uinta Bk Mtn View - 903572GQ2
3.950 02/14/2029
250,000.000 99.7990 249,497.50 250,000.00 -502.50 0.5 9,875.00 3.96 18 25849
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ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024 ASSET DETAIL (continued)
Security Description Percent
Unrealized of Total Estimated Estimated
Shares/Face Amt Price Market Value Tax Cost Gain/Loss Portfolio Annual Income Current Yield Wells Fargo Bank Natl Assn - 949764GT5
CD
5.500 04/24/2025
250,000.000 100.3720 250,930.00 250,000.00 930.00 0.5 13,750.00 5.48 Total Corporate Issues $4,561,842.50 $4,499,750.00 $62,092.50 8.3 $206,375.00 Total Taxable Bonds $54,861,888.25 $56,115,970.36 -$1,254,082.11 99.6 $1,690,900.00 Total Assets $55,056,469.88 $56,310,551.99 -$1,254,082.11 100.0 $1,699,329.14 Estimated Current Yield 3.08
ASSET DETAIL MESSAGES
Time of trade execution and trading party (if not disclosed) will be provided upon request. not necessarily reflect prices at which assets could be bought or sold. Values are updated based on internal policy and may be updated less frequently than statement generation Eesy ate present he da sin ad an you one are at her preter grain at your enter area in en or making nestmen, rating, or la decisions. The estimates 19 25849
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CITY OF LAGUNA NIGUEL Page 11 of 16
ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024
TRANSACTION DETAIL
Date
Posted Activity Description Cash Tax Cost
Beginning Balance 12/01/2024 $0.00 $53,151,120.86
12/02/24 Sale 1,000,000.00 -992,812.50
12/02/24 Asset Income Interest Earned On 811.64
Spiritbank Tulsa C D 3.950% 1/31/2:
).003247 USD/$1 Pv On 250,000 Par Value Due 11/30/2
12/02/24 Asset Income Interest Earned On 43,750.00
J S Treasury Nt 4.375% 11/30/2
).021875 USD/$1 Pv On 2,000,000 Par Value Due 11/30/2
12/02/24 Asset Income Interest Earned On 22,500.00
US Treasury Nt 4.500% 11/30/24
0.0225 USD/$1 Pv On 1,000,000 Par Value Due 11/30/24
12/02/24 Asset Income Interest Earned On 4,925.88
First Am Treas Ob Fd CI Z
Interest From 11/1/24 To 11/30/24
12/09/24 Asset Income Interest Earned On 945.21
Celtic Bk C D 4.600% 12/08/27
0.003781 USD/$1 Pv On 250,000 Par Value Due 12/8/24
12/09/24 Asset Income Interest Earned On 40,000.00
F HL B Deb 4.000% 6/09/28
0.02 USD/$1 Pv On 2,000,000 Par Value Due 12/9/24
12/12/24 Asset Income Interest Earned On 7,500.00
F HL B Deb 0.750% 6/12/26
0.00375 USD/$1 Pv On 2,000,000 Par Value Due 12/12/24
12/12/24 Asset Income Interest Earned On 5,703.08
First Premier Bk C D 4.550% 12/10/2
.022812 USD/$1 Pv On 250,000 Par Value Due 12/12/2
12/13/24 Purchase U Treasury N 4 20% 1/1530 -2,004,760.00 2,004,760.00 Trade Date 12/12/24
Purchased Through Cantor Fitzgerald & Co
2,000,000 Par Value At 100.238 %
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ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024 TRANSACTION DETAIL (continued)
Date
Posted Activity Description Cash Tax Cost
12/13/24 Purchase Accrued Interest -6,574.59
12/13/24 Asset Income Interest Earned On 25,625.00
F HL B Deb 5.125% 6/13/25
0.025625 USD/$1 Pv On 1,000,000 Par Value Due 12/13/24
12/13/24 Asset Income Interest Earned On 5,515.07
Sallie Mae Bk C D 4.400% 12/13/28
0.02206 USD/$1 Pv On 250,000 Par Value Due 12/13/24
12/16/24 Asset Income Interest Earned On 811.64
Uinta Bk Mtn C D 3.950% 2/14/29
0.003247 USD/$1 Pv On 250,000 Par Value Due 12/14/24
12/19/24 Cash Receipt Cash Receipt 3,000,000.00
Transfer From Checking
Per Ins Dtd 12/19/2024
12/20/24 Purchase Pus Treasury IN 4 20%g Vau20f -990,940.00 990,940.00 Trade Date 12/19/24
P.00 Par vale A Aa ral 8 Co.
12/20/24 Purchase Accrued Interest Paid Accrued Interest On Purchase Of -2,266.48 U S Treasury Nt 4.250% 11/30/29
Income Debit 2,266.48- USD
12/20/24 Purchase 'urchased 2,000,000 Par Value O -1,963,440.00 1,963,440.00 1S Treasury 14.250% 11/15/30
Trade Date 12/19/24
12/20/24 Purchase Accrued Interest Paid Accrued Interest On Purchase Of -8,218.23 U S Treasury Nt 4.250% 11/15/34
Income Debit 8,218.23- USD
12/23/24 Asset Income Interest Earned On 883.56
Medallion Bk C D 4.300% 12/22/28
0.003534 USD/$1 Pv On 250,000 Par Value Due 12/22/24
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ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024 TRANSACTION DETAIL (continued)
Date
Posted Activity Description Cash Tax Cost
12/24/24 Asset Income 1,130.14
12/26/24 Asset Income terest Earned O 914.38
- 00368 USDIS PV 250,000 Par Value Due 12126/2
12/30/24 Asset Income Interest Earned On 924.66
Bank Five Nine C D 4.500% 7/28/28
0.003699 USD/$1 Pv On 250,000 Par Value Due 12/28/24
12/30/24 Asset Income Interest Earned On 883.56
First Natl Bk C D 4.300% 12/28/28
0.003534 USD/$1 Pv On 250,000 Par Value Due 12/28/24
12/30/24 Asset Income Interest Earned On 5,640.41
Toyota Finl C D 4.500% 6/28/29
0.022562 USD/$1 Pv On 250,000 Par Value Due 12/28/24
12/31/24 Asset Income Interest Earned On 838.70
Spiritbank Tulsa C D 3.950% 1/31/29
0.003355 USD/$1 Pv On 250,000 Par Value Due 12/31/24
Purchase Fust An Treas ob FaCIL The Period 12/124 - 1213124 0f -4,138,162.86 4,138,162.86 Sale combined Sales For The Period 12/ 1/24 - 12/31/24 C 4,945,059.23 -4,945,059.23 irst Am Treas Ob Fd Cl:
Ending Balance 12/31/2024 $0.00 $56,310,551.99
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ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024
SALE/MATURITY SUMMARY
Settlement Estimated
Date Description Tax Cost Proceeds Gain/Loss
Taxable Bonds
US Treasury Note
4.500 11/30/2024
91282CFX4
12/02/24 Matured 1,000,000 -992,812.50 1,000,000.00 7,187.50 Par Value
Trade Date 11/30/24
1,000,000 Par Value At 100 %
Total Taxable Bonds -$992,812.50 $1,000,000.00 $7,187.50 Total Sales & Maturities -$992,812.50 $1,000,000.00 $7,187.50
SALE/MATURITY SUMMARY MESSAGES
Estimated Year-To-Date Short-Term Gain (Loss): $145,566.88 Estimated Year-To-Date Long-Term Gain (Loss): $7,187.50 Estimates should not be used for tax purposes
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ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024
BOND SUMMARY
50% |
40%
30%
20%
10%
0%
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034
2038
Percentage of
Par Value Market Value Categor
MATURITY
2024 0.00 0.00
2025 18,825,000.00 18.612.620.05 33.93
2026 7,225,495.00
2027 6,891,205.00
2028 7,274,570.00
2029 ,071, 157.50
2030 0.00
2031 0.00 0.00
2032 0.00 0.00
2033 0.00 0.00
2034 - 2038 6,000,000.00 5,786,840.00
Total of Category $55,825,000.00 $54,861,888.25 100.00
MOODY'S RATING
Aaa 1,325,000.00 50,300,045.75
N/A 24 1.750,000.00 1,766,530.00 9383
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ACCOUNT NUMBER: 6736304200 December 1, 2024 to December 31, 2024 BOND SUMMARY (continued)
Percentage of
Par Value Market Value Category
NOT RATED 2,750,000.00 2,795,312.50 5.10
Total of Category $55,825,000.00 $54,861,888.25 100.00
S&P RATING
AA+ 34,825,000.00 34,076,360.75
N/A 16,500,000.00 16,223,685.00 2951
NOT RATED 4,500,000.00 4,561,842.50 8.32
Total of Category $55,825,000.00 $54,861,888.25 100.00
BOND SUMMARY MESSAGES
Data contained within this section excluded Mutual Funds, Exchange Traded Funds, and Closed-Ended Funds. 25 PARS PUBLIC AGENCY
• RETIREMENT SERVICES
CITY OF LAGUNA NIGUEL Account Report for the Period
PARS Post-Employment Benefits Trust 12/1/2024 to 12/31/2024 Tamara Letourneau
City Manager
City of Laguna Niguel
30111 Crown Valley Parkway
Laguna Niguel, CA 92677
Account Summary
Balance as of
Source 12/1/2024 Contributions Earnings 1223020201
Expenses Distributions Transfers
PENSION $2,347.645.86 $0.00 -$58.429.74 $1.134.30
$0.00 $0.00 $2.288.081.82
Totals $2.347,645.86 $0.00 - $58.429.74 S1,134.30 $0.00 $0.00 S2,288.081.82
Investment Selection
Source
PENSION Moderate - Index
Investment Objective
Source
The dual goals of the Moderate Strategy are growth of principal and income. It is expected that dividend and interest income will comprise a significant portion
PENSION
of total return, although growth through capital appreciation is equally important. The portfolio will be allocated between equity and fixed income investments Investment Return
Annualized Return
Source 1-Month 3-Months 1-Year 3-Years 5-Years
10-Years Plan's Inception Date
PENSION -2.49% -1.07% 9.37% 1.80%
5/26/2020
Information as provided by US Bank, Trustee for PARS: Not FDIC Insured: No Bank Guarantee: May Lose Value Past performance does not guarantee future results. Performance returns may not reflect the deduction of applicable fees, which could reduce returns. Information is deemed reliable but may be subject to change Investment Return: Annualized rate of return is the return on an investment over a periad other than one year multiplied or divided to give a comparable one-year return Account balances are inclusive of 1 rust Administration. Trustee and Investment Management fees Headquarters - 4350 Von Karman Ave., Suite 100, Newport Beach. CA 92660 800.540.6369 www.pars.org 26