To:
FROM:
DATE:
SUBJECT:
CITY OF LAGUNA NIGUEL
CITY COUNCIL AGENDA ITEM
Honorable Mayor and Council Members
Tamara S. Letourneau, City Manager
July 15, 2025
Investment Report as of May 31, 2025
RECOMMENDATION
Staff recommends that the City Council receive and file the City of Laguna Niguel Investment Report as of May 31, 2025.
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
The Federal Open Market Committee (FOMC) left the Federal Funds rate unchanged at the June meeting, with rates remaining at 4.25%-4.50%, marking the fourth straight meeting rates have remained at that level. The Committee stated the "uncertainty about the economic outlook has diminished but remains elevated". The FOMC released the latest "dot plot", which can be found on the following page. Based on this dot plot, the year-end average projection of where interest rates will be on December 31, 2025, is
3.875%. This means that the Committee is projecting additional rate cuts to occur between now and the end of the calendar year.
Fed members are still projecting two rate cuts this year 10 9
8 7
6 5
4 3
2 1
0 2
2025
Source: Bloomberg, as of 6118/2025
2026
Page2
so
GO
7 [;
1 0
JO
Median dot represents the median forecast from the 6/18/2025 FOMC meeting. Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data, Furthermore, the CME Fed Watch Tool is projecting the first rate cut to occur at the September FOMC meeting. Between May 31 st and September 17th , the City has $13.4 million of securities maturing, yielding an average of 1.47%. The City will have a prime opportunity to reinvest those maturing funds at a significantly higher yield, while locking those yields in for up to five years. The City's portfolio continues to be in a strong position, and regardless of where the interest rates move, the average weighted yield will increase dramatically over the next few months.
30 JUl25 17 Sep25 29 Oct25
MEETING DATE
17 Sep2025
CONTRACT
zaus
W EflNG PlilFOR:111,TlON'
EXPIRES
30 sep 2025
MID PRICE
95,7525
PRIOR VOLUME PRIOR DI
7,510 192,616
Target Rate Probabilities for 17 Sep 2025 Fed Meeting
Current target rate is 425•450
\ OOS
sos
62.9!,;
6~
,.
s
~ .c
£
40S
20S
3.0'6
OS
375-~00 400-(25
T .uget Rate (m bps)
EASE
659%
PROBABIUTIES
NO CHANGE MIKE
341% 00%
34.1116
,zs-,so
Page3
The following table compares the portfolio balance as of May 2025 to April 2025.
Portfolio Balance April 2025 May 2025 Difference
6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
Balance $65,436,454 $68,766,305 $3,329,851
• Over the past month, the City's total cash and investments experienced a net increase of $3,329,851. This increase is primarily due to the City receiving a large share of property tax allotments from the County. • The percentage of pooled investments in the Local Agency Investment Fund (LAIF) remained at 0.16%.
• The average weighted maturity of City investments, including investment pools and money market funds, increased to 1,235 days. 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 the bank.
• The net yield of LAIF decreased from 4.281 % to 4.272%. This represents the ninth consecutive month the LAIF yield has decreased. The net yield for the First American money market funds in the City's custodian account decreased to 4.200% . The Fed Funds rate and the LAIF/PMIA rate are nearly even and on a downward trend.
Average Monthly Yield Comparison - 05/2020 through 05/2025 - PMIA
--S&P
---•Fed Funds
May Yields
0 0 0 ... N ... ... N N N N .., .., .., .., ..,. ..,. ..,. ..,. Ll) Ll)
N N N N N N N N N N N N N N N N N N N N
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
!:::! !:::! !:::! !:::! ~ !:::! !:::! !:::! !:::! !:::! !:::! N !:::! !:::! ~ ~ !:::! !:::! ~ !:::! ~ Ll) CX) ... N CX) ... N Ll) CX) ... N Ll) CX) ... N Ll) CX) ... N Ll) PMIA 4.272%
S&P GIP 4.480%
Fed Funds 4.310°/4
... ... - - ...
• The average weighted yield of City investments , including investment pools and money market funds, increased from 3.264% to 3.307%. The increase is mostly due to an increase in the size of the portfolio, specifically the recent influx of cash due to the property tax receipts being stored in the money market account, which is still generating high returns at 4.200%. The City's average weighted yield of City investments, including investment pools and money market funds, 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 Weighted 5-Year 1-Year 6-Month
Yield Treasury Treasury Treasury
3.3074% 3.960% 4.110% 4.360%
The monthly Investment Report as of May 31, 2025, is attached .
ALTERNATIVES CONSIDERED
LAIF
4.272%
The City Council can choose not to receive and file the City of Laguna Niguel Investment Report as of May 31, 2025.
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.
Attachment:
Trevor Agrelius
Finance Director
A. Monthly Investment Report as of May 31, 2025
ATTACHMENT A
Investment Report as of May 31, 2025
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
as of
May 31, 2025
Tamara S. Letourneau
CITY MANAGER
Trevor Agrelius
FINANCE DIRECTOR
July 15, 2025
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
TABLE OF CONTENTS
Statement of Compliance/Non-Compliance
Report of Cash and Investments
LAIF Investment Reports
US Bank Statement
PARS Statement
1 2
3-5
6-20
21 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 May 31, 2025, 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.
Trevor Agrelius
Finance Director
City of Laguna Niguel
Summary of Cash and Investments
5/31/2025
Settlement Maturity Coupon Purchased Percent of Max Allowed Per Market Anticipated total Description Date Date Rate Yield Cost Portfolio Investment Policy Value Interest earned Petty Cash/Change Drawers s 2,500 .00 0.00% N/A s 2,500 .00 US Bank Checking & Investment Accounts 3.920% 3,320,874 .96 4.83% N/A 3,320,874.96 US Bank Money Market 4.200% 2,366 ,722.12 3.44% 10.00% 2,366,722.12 Local Agency Investment Fund 4.272% 107,800 .05 0.16% >$40 million or 55% 107,800.05 US Treasury Note: 40.74% N/A
912810EV6 6/22/2023 8/15/2025 6,875% 4.311% 2,104,000.00 2,011,480 .00 195,074 .52 91282CJK8 11/30/2023 11/15/2026 4.625% 4.310% 1,008,640.00 1,008,320 ,00 128,749 .72 91282CJAO 11/10/2023 9/30/2028 4.625% 4.500% 1,005,380.00 1,023,010 .00 221,376.41 91282CJN2 12/8/2023 11/30/2028 4.375% 4.020% 2,031,720.00 2,030,860 .00 407,033.11 91282CHD6 4/12/2024 3/31/2029 4.250% 4.500% 1,475,175.00 1,511,250.00 329,913.80 91282CFJ5 10/24/2024 8/31/2029 3.125% 4.000% 961,730.00 968,560.00 186,760.06 91282CLN9 11/6/2024 9/30/2029 3.500% 4.310% 970,990 .00 982,810.00 205,120.71 91282CMA6 12/20/2024 11/30/2029 4.125% 4.330% 990 ,940.00 1,007,540.00 212,304.96 91282CMDO 1/13/2025 12/31/2029 4.375% 4.470% 995,790.00 1,017,500.00 221,095.66 91282CGZ8 5/13/2025 4/30/2030 3.500% 4.000% 1,466,505 .00 1,468 ,245.00 291,372.45 91282CMC2 4/24/2025 12/31/2031 4.500% 4.075% 1,024 ,620.00 1,020,430 .00 279,346 .50 91282CFV8 4/11/2025 11/15/2032 4.125% 4.126% 1,999 ,870.00 1,991,180 .00 627,306.89 91282CJJ1 1/7/2025 11/15/2033 4.500% 4.530% 1,496,655.00 1,522,380.00 600,713.03 91282CKQ3 1/13/2025 5/15/2034 4.375% 4.660% 978,560.00 1,002 ,810 .00 425,899.88 91282CLF6 10/9/2024 8/15/2034 3.875% 4,079% 1,955 ,400.00 1,926,880.00 786,025 .96 91282CLW9 12/20/2024 11/30/2034 4.250% 4.349% 3,968,200 .00 3,960,640.00 1,717,119 .88 91282CMMO 3/25/2025 2/15/2035 4.625% 4.275% 3,083,550 .00 3,056,250.00 1,305,216 .03 91282CNC1 5/15/2025 5/15/2035 4.125% 4.375% 495,000.00 494,375.00 216,681.16 Certificates of Deposit: 5.82% 30%
15140RCY3 7/25/2023 7/26/2027 4.700% 4.700% 250,000.00 252,795.00 47,064.38 8562834(7 7/31/2023 8/2/2027 4.600% 4.600% 250,000 .00 252,305 .00 46,094 .52 15118RM38 12/8/2023 12/8/2027 4.600% 4.600% 250,000.00 252,660.00 46,031.51 33610RVD2 12/12/2023 12/10/2027 4.550% 4.550% 250,000 .00 252,397.50 45,468 ,84 05580AY24 7/18/2023 4/14/2028 4.400% 4.408% 249,875 .00 251,580.00 52,266 .02 2546733V6 7/18/2023 4/17/2028 4.400% 4.408% 249,875.00 251,665 .00 52,356 .55 20033A4J2 7/26/2023 7/26/2028 4.450% 4.450% 250,000 .00 252,067.50 55,685 .96 062119CD2 7/28/2023 7/28/2028 4.500% 4.500% 250,000.00 252,437 .50 56,311.64 02589AF64 11/1/2023 11/1/2028 5.000% 5.000% 250,000.00 256,240.00 62,568.49 87165E3V7 11/3/2023 11/3/2028 5.000% 5.000% 250,000 .00 256,245.00 62,568.49 795451DH3 12/13/2023 12/13/2028 4.400% 4.400% 250,000.00 251,527.50 55,060 .27 58404DTX9 12/22/2023 12/22/2028 4.300% 4.300% 250,000.00 250,740.00 53,808.90 32110YK46 12/28/2023 12/28/2028 4.300% 4.300% 250,000.00 250,730.00 53,808.90 848608F86 1/31/2024 1/31/2029 3.950% 3.950% 250,000 .00 247,702.50 49,429.11 903572GQ2 2/14/2024 2/14/2029 3,950% 3.950% 250,000 .00 247,645.00 49,429 .11 89235MPR6 6/28/2024 6/28/2029 4.500% 4.500% 250,000 .00 252,247 .50 56,280 .82 Federal National Mortgage Association: 12.57% 25.00%
3135G05X7 1/29/2021 8/25/2025 0.375% 0.519% 8,645 ,922 .29 8,619,960.00 205,183 .37 Federal Farm Credit Banks: 16.01% 25.00%
3133EPYW9 10/20/2023 10/20/2025 5.125% 5.178% 999,000.00 1,002,360.00 103,598.16 3133ENVD9 4/26/2022 4/26/2027 2.875% 2.900% 3,995,360 .00 3,920 ,920.00 579 ,644.64 3133EPH81 12/8/2023 10/4/2027 4.500% 4.150"/4 2,024,580.00 2,022,640 .00 321 ,347.99 3133EPW84 1/30/2024 1/18/2029 3.875% 3.930% 2,493 ,800 ,00 2,481,275 .00 487,370 .28 3133EP3B9 2/26/2024 2/13/2029 4.125% 4,200% 1,494,975 .00 1,502,040 .00 312,052.48 Federal Home Loan Banks: 16.44% 25.00%
3130AWLY4 7/25/2023 6/13/2025 5.125% 4.900% 1,004,010 .00 1,000,200 .00 92,866.80 3130AJTF6 7/14/2020 7/14/2025 0,740% 0.740% 1,000,000 .00 995,480 .00 37,020 .27 3130AJTX7 7/21/2020 7/21/2025 0.720% 0.720% 625,000.00 621,731.25 22,512 .33 3130AMF56 8/12/2021 6/12/2026 0.750% 0.735% 2,001,415.36 1,932,600 .00 71,133.87 3130A8XY4 10/18/2021 9/11/2026 1.875% 1.100% 4,665 ,690 .00 4,379,805 .00 251,551.00 3130AWC24 6/23/2023 6/9/2028 4.000% 3,930% 2,006,180.00 2,006,080.00 391,622.28
45.02% 60.00%
Total City Investments Including Investment Pools $ 68,766,304 .78 100.00"/4 S 68,318,493 .38 S 12,077,247.72 Restricted for Specific Use
PARS 115 Pension Trust s 2,000,000.00 20.00% $ 2,350,746.80 Average weighted maturity of Investments, excluding Investment Pools: 1,349 days Average weighted maturity of Investments, including Investment Pools and Money Market: 1,235 days Average weighted yield of Investments, excluding Investment Pools: 3.239% Average weighted yield of Investments, including Investment Pools and Money Market : 3.307% • Market value of City investments is provided by US Bank 2 7/8/25, 10:21 PM
California State Treasurer
Fiona Ma1 CPA
Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
CITY OF LAGUNA NIGUEL
TREASURER
30111 CROWN VALLEY PARKWAY
LAGUNA NIGUEL, CA 92677
Account Number: 98-30-408
May 2025 Statement
Account Summan
Total Deposit:
Total Withdrawal:
https://laifms.treasurer.ca.gov/RegularStatement.aspx
LAIF Regular Monthly Statement
July 08, 2025
LAIFHome
PMIAAverage Monthly:
Yields
Tran TY.Re Definitions
/,
0.00 Beginning Balance:
0.00 Ending Balance:
3 107,800.05
107,800.05
1/1
i,MMI '-""'' ._, •--- _,, _,.6/ .__,
____ .,. ____
:ionment Rate(2l: 4.48 May
Earnings Ratio(2l: 0.00012266258268207 April
istrative Cost(ll*: 0.26 March
r Value Factor'1l: 1.000849191 February
PMIA Daily(1l: 4.30 January
uarter to Date(1l: 4.34 December
A Average Life(1l: 244
Pooled Money Investment Account
Monthly Portfolio Composition (l)
5/31/25
Certificates of
Deposit/Bank Notes
9.63%
$166. 7 billion
Commercial
Paper
7.40%
Corporate
Bonds
0.61%
. ·-·--...
4.272
4.281
4.313
4.333
4.366
4.434
Treasuries
53.83%
Agencies
25.22%
::hart does not include $1,087,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding. , available here. View PMIA Daily Rates
~...,_ \tiVEST,ff~ State of California
~~~.,,. ~ . . ~ Pooled Money Investment Account § {i ~ g g l ~~ Market Valuation 0-- . ...,
ti'. <;:,
'f,,.-". ,~
5/31/2025 ">--ttou101•'\ •
Carrying Cost Plus
Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury:
Bills $ 45,564,078,040.78 $ 45,961,568,430.50 NA
Notes $ 43,268,662,162.03 $ 43,377,802,112.00 $ 430,419,269.50 Federal AQencv:
SBA $ 223,245,669.54 $ 226, 115,992.58 $ 892,317.36
MBS-REMICs $ 1,087,384.32 $ 1,076,576.81 $ 4,743.62
Debentures $ 6,825,660,283 .48 $ 6,816,848,650.00 $ 66,790,804.50 Debentures FR $ - $ - $ -
Debentures CL $ 2,900,000,000.00 $ 2,902,818,000.00 $ 24,319,783.50 Discount Notes $ 28,404,055,736.03 $ 28,646,520,100.00 NA Supranational Debentures $ 3,680,324,110.27 $ 3,678,762,000.00 $ 36,401,591.70 Supranational Debentures FR $ - $ - $ -
CDs and YCDs FR $ - $ - $ -
Bank Notes
CDs and YCDs $ 16,050,000,000.00 $ 16,043,568,402.73 $ 168,870,569.47 Commercial Paper $ 12,336,261,722.23 $ 12,430,366,430.44 NA Corporate:
Bonds FR $ - $ - $ -
Bonds $ 1,019,874,145.06 $ 1,016,756,700.00 $ 9,407,486.30 Repurchase AQreements $ - $ - $ -
Reverse Repurchase $ - $ - $ -
Time Deposits $ 5,281,000,000.00 $ 5,281,000,000.00 NA
PMIA & GF Loans $ 236,264,000.00 $ 236,264,000.00 NA
TOTAL $ 165,790,513,253.74 $ 166,619,467,395.06 $ 737,106,565.95 Fair Value Including Accrued Interest $ 167,356,573,961.01 Repurchase Agreements, Time Deposits, PMIA & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 5 CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Beginning Market Value
Taxable Interest
Cash Receipts
Change in Investment Value
Ending Market Value
MARKET VALUE SUMMARY
Current Period
05/01/25 to 05/31/25
$61,569,680.68 $80,000,000
225,454.69
3,500,000.00
-407,817.00
$64,887,318.37
$70,000,000
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$20,000,000
$10,000,000
Change: 3,317,637.69
21006
00- -M -UC-UU -151-04
0220657 -00-04007 -04
May 1, 2025 to May 31, 2025
$0,.._ ______ -,-___ _._ __ ...._ ___ ....... ______ _
6 Beginning
MV
$61,569,680.68
Ending
MV
$64,887,318.37
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Assets
Cash & Equivalents
Taxable Bonds
Total Market Value
Current Period
Market Value
2,366,722.12
62,520,596 .25
$64,887,318.37
% of
Total
3.60 96.40
100.00
ASSET SUMMARY
Estimated
Annual Income
99,374.26
2,097,900.00
$2, 197,274.26
7 21006
00- -M -UC-UU -15 1-04
0220657 -00-04007 -04
May 1, 2025 to May 31, 2025
Fixed Income Summary
US Government Issues
$58,489,611 .25 ___ _
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Taxable Interest
Total Current Period Income
INCOME SUMMARY
Income Received
Current Period
225,454.69
$225,454.69
8 21006
00- -M -UC-UU-151-04
0220657 -00-04007 -04
May 1, 2025 to May 31, 2025
~ bank~
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Beginning Cash 05/01/2025
Taxable Interest
Cash Receipts
Purchases
Net Money Market Activity
Ending Cash 05/31/2025
CASH SUMMARY
Cash
$0.00
225,454 .69
3,500,000 .00
-1,961,505 .00
-1,763,949.69
$0.00
9 21006
00- -M -UC-UU -151-04
0220657 -00-04007-04
May 1, 2025 to May 31, 2025
21006
00- -M -UC-UU -151-04
0220657 -00-04007 -04
[!Ijbank.
CITY OF LAGUNA NIGUEL Page 5 of 15
ACCOUNT NUMBER: 6736304200 May 1, 2025 to May 31, 2025
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
2,366,722.120 1.0000 2,366,722.12 2,366,722.12 0.00 3.6 99,374.26 4.20 Total Cash/Money Market $2,366,722.12 $2,366,722.12 $0.00 3.6 $99,374.26 Total Cash & Equivalents $2,366,722.12 $2,366,722.12 $0.00 3.6 $99,374.26 Taxable Bonds
US Government Issues
FNMA - 3135G05X7
0.375 08/25/2025
8,700,000.000 99.0800 8,619,960.00 8,645,922.29 -25,962.29 13.3 32,625.00 0.38 Federal Farm Credit Bks - 3133ENVD9
2.875 04/26/2027
4,000,000.000 98.0230 3,920,920.00 3,995,360.00 -74,440.00 6.0 115,000.00 2.93 Federal Farm Credit Bks - 3133EPW84
3.875 01/18/2029
2,500,000.000 99.2510 2,481,275.00 2,493,800.00 -12,525.00 3.8 96,875.00 3.90 Federal Farm Credit Bks - 3133EP389
4.125 02/13/2029
1,500,000.000 100.1360 1,502,040.00 1,494,975.00 7,065.00 2.3 61,875.00 4.12 Federal Farm Credit Bks - 3133EPH81
4.500 10/04/2027
2,000,000.000 101.1320 2,022,640.00 2,024,580.00 -1,940.00 3.1 90,000.00 4.45 10 21006
00- -M -UC-UU -151-04
0220657 -00-04007 -04
CTI3bank® ~
.
CITY OF LAGUNA NIGUEL Page 6 of 15
ACCOUNT NUMBER: 6736304200 May 1, 2025 to May 31, 2025
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 - 3133EPYW9
5.125 10/20/2025
1,000,000.000 100.2360 1,002,360.00 999,000.00 3,360.00 1.5 51,250.00 5.11 Federal Home Loan Bks - 3130AJTX7
0.720 07/21/2025
625,000.000 99.4770 621,731.25 625,000.00 -3,268.75 1.0 4,500.00 0.72 Federal Home Loan Bks - 3130AJTF6
0.740 07/14/2025
1,000,000.000 99.5480 995,480.00 1,000,000.00 -4,520.00 1.5 7,400.00 0.74 Federal Home Loan Bks - 3130AMFS6
0.750 06/12/2026
2,000,000.000 96.6300 1,932,600.00 2,001,415.36 -68,815.36 3.0 15,000.00 0.78 Federal Home Loan Bks - 3130A8XY4
1.875 09/11/2026
4,500,000.000 97.3290 4,379,805.00 4,665,690.00 -285,885.00 6.7 84,375.00 1.93 Federal Home Loan Bks - 3130AWC24
4.000 06/09/2028
2,000,000.000 100.3040 2,006,080.00 2,006,180.00 -100.00 3.1 80,000.00 3.99 Federal Home Loan Bks - 3130AWLY4
5.125 06/13/2025
1,000,000.000 100.0200 1,000,200.00 1,004,010.00 -3,810.00 1.5 51,250.00 5.12 US Treasury Bond - 912810EV6
6.875 08/15/2025
2,000,000.000 100.5740 2,011,480.00 2,104,000.00 -92,520.00 3.1 137,500.00 6.84 U S Treasury Note - 91282CMMO
02/15/2035
3,000,000.000 101.8750 3,056,250.00 3,083,550.00 -27,300.00 4.7 138,750.00 4.54 US Treasury Note - 91282CFJ5
3.125 08/31/2029
1,000,000.000 96.8560 968,560.00 961,730.00 6,830.00 1.5 31,250.00 3.23 11 21006
00- -M -UC-UU -151-04
0220657-00-04007 -04
[!Ljbank®
CITY OF LAGUNA NIGUEL Page 7 of 15
ACCOUNT NUMBER: 6736304200 May 1, 2025 to May 31, 2025
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 US Treasury Note - 91282CGZ8
3.500 04/30/2030
1,500,000.000 97.8830 1,468,245.00 1,466,505.00 1,740.00 2.3 52,500.00 3.58 US Treasury Note - 91282CLN9
3.500 09/30/2029
1,000,000.000 98.2810 982,810.00 970,990.00 11,820.00 1.5 35,000.00 3.56 US Treasury Note - 91282CLF6
3.875 08/15/2034
2,000,000.000 96.3440 1,926,880.00 1,955,400.00 -28,520.00 3.0 77,500.00 4.02 U S Treasury Note - 91282CKG5
4.125 03/31/2029
1,500,000.000 100.7500 1,511,250.00 1,475,175.00 36,075.00 2.3 61,875.00 4.09 US Treasury Note - 91282CNC1
4.125 05/15/2035
500,000.000 98.8750 494,375.00 495,000.00 -625.00 0.8 20,625.00 4.17 US Treasury Note - 91282CFV8
4.125 11/15/2032
2,000,000.000 99.5590 1,991,180.00 1,999,870.00 -8,690.00 3.1 82,500.00 4.14 US Treasury Note - 91282CMA6
4.125 11/30/2029
1,000,000.000 100.7540 1,007,540.00 990,940.00 16,600.00 1.6 41,250.00 4.09 US Treasury Note - 91282CLW9
4.250 11/15/2034
4,000,000.000 99.0160 3,960,640.00 3,968,200.00 -7,560.00 6.1 170,000.00 4.29 U S Treasury Note - 91282CKQ3
4.375 05/15/2034
1,000,000.000 100.2810 1,002,810.00 978,560.00 24,250.00 1.5 43,750.00 4.36 US Treasury Note - 91282CJN2
4.375 11/30/2028
2,000,000.000 101.5430 2,030,860.00 2,031,720.00 -860.00 3.1 87,500.00 4.31 12 21006
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[!ljbank® ~
,:
CITY OF LAGUNA NIGUEL Page 8 of 15
ACCOUNT NUMBER: 6736304200 May 1, 2025 to May 31, 2025
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 US Treasury Note - 91282CMDO
4.375 12/31/2029
1,000,000.000 101.7500 1,017,500.00 995,790.00 21 ,710.00 1.6 43,750.00 4,30 US Treasury Note - 91282CJJ1
4.500 11/15/2033
1,500,000.000 101.4920 1,522,380.00 1,496,655.00 25,725.00 2.3 67,500.00 4.43 US Treasury Note - 91282CMC2
4.500 12/31/2031
1,000,000.000 102.0430 1,020,430.00 1,024,620.00 -4,190.00 1.6 45,000.00 4.41 US Treasury Note - 91282CJAO
4.625 09/30/2028
1,000,000.000 102.3010 1,023,010.00 1,005,380.00 17,630.00 1.6 46,250.00 4.52 US Treasury Note - 91282CJK8
4.625 11/15/2026
1,000,000.000 100.8320 1,008,320.00 1,008,640.00 -320.00 1.6 46,250.00 4.59 Total US Government Issues $58,489,611.25 $58,968,657.65 -$479,046.40 90.1 $1,918,900.00 Corporate Issues
American Express Natl Bk - 02589AF64
CD
5.000 11/01/2028
250,000.000 102.4960 256,240.00 250,000.00 6,240.00 0.4 12,500.00 4.88 Bank Five Nine Oconomowoc Wis - 062119CD2
CD
4.500 07/28/2028
250,000.000 100.9750 252,437.50 250,000.00 2,437.50 0.4 11,250.00 4.46 Bmw Bk North Amer Salt Lake City - 05580A Y24
CD
4.400 04/14/2028
250,000.000 100.6320 251,580.00 249,875.00 1,705.00 0.4 11,000.00 4.37 13 21006
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[$jbank
CITY OF LAGUNA NIGUEL Page 9 of 15
ACCOUNT NUMBER: 6736304200 May 1, 2025 to May 31, 2025
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 Celtic Bk Salt Lake City Utah - 15118RM38
CD
4.600 12/08/2027
250,000.000 101.0640 252,660.00 250,000.00 2,660.00 0.4 11 ,500.00 4.55 Centier Bk Whitting Ind - 15140RCY3
CD
4.700 07/26/2027
250,000.000 101.1180 252,795.00 250,000.00 2,795.00 0.4 11,750.00 4.65 Comenity Cap Bk Draper - 20033A4J2
CD
4.450 07/26/2028
250,000.000 100.8270 252,067.50 250,000.00 2,067.50 0.4 11 ,125.00 4.41 Discover Bk Greenwood Del - 2546733V6
CD
4.400 04/17/2028
250,000.000 100.6660 251,665.00 249,875.00 1,790.00 0.4 11,000.00 4.37 First Natl Bk Amer East Lans - 3211 OYK46
CD
4.300 12/28/2028
250,000.000 100.2920 250,730.00 250,000.00 730.00 0.4 10,750.00 4.29 First Premier Bk Sioux Falls - 33610RVD2
CD
4.550 12/10/2027
250,000.000 100.9590 252,397.50 250,000.00 2,397.50 0.4 11,375.00 4.51 Medallion Bk Utah - 58404DTX9
CD
4.300 12/22/2028
250,000.000 100.2960 250,740.00 250,000.00 740.00 0.4 10,750.00 4.29 Sallie Mae Bk Salt Lake City - 795451 DH3
CD
4.400 12/13/2028
250,000.000 100.6110 251,527.50 250,000.00 1,527.50 0.4 11 ,000.00 4.37 14 21006
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[!Ijbanke m1
CITY OF LAGUNA NIGUEL Page 10 of 15
ACCOUNT NUMBER: 6736304200 May 1, 2025 to May 31, 2025
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 Spiritbank Tulsa Okla - 848608FB6
CD
3.950 01/31/2029
250,000.000 99.0810 247,702.50 250,000.00 -2,297.50 0.4 9,875.00 3.99 State Bk India Chicago Ill - 8562834C7
CD
4.600 08/02/2027
250,000.000 100.9220 252,305.00 250,000.00 2,305.00 0.4 11,500.00 4.56 Synchrony Bank CD - 87165E3V7
CD
5.000 11/03/2028
250,000.000 102.4980 256,245.00 250,000.00 6,245.00 0.4 12,500.00 4.88 Toyota Finl Svgs Bk Hend Nv - 89235MPR6
CD
4.500 06/28/2029
250,000.000 100.8990 252,247.50 250,000.00 2,247.50 0.4 11,250.00 4.46 Uinta Bk Mtn View - 903572GQ2
CD
3.950 02/14/2029
250,000.000 99.0580 247,645.00 250,000.00 -2,355.00 0.4 9,875.00 3.99 Total Corporate Issues $4,030,985.00 $3,999,750.00 $31,235.00 6.2 $179,000.00 Total Taxable Bonds $62,520,596.25 $62,968,407.65 -$447,811.40 96.4 $2,097,900.00 Total Assets $64,887,318.37 $65,335,129.77 -$447,811.40 100.0 $2,197,274.26 Estimated Current Yield 3.38
15 CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
ASSET DETAIL MESSAGES
Time of trade execution and trading party (if not disclosed) will be provided upon request. 21006
00- -M -UC-UU -151-04
0220657-00-04007-04
May 1, 2025 to May 31, 2025
Publicly traded assets are valued in accordance with market quotations or valuation methodologies from financial industry services believed by us to be reliable. Assets that are not publicly traded may be reflected at values from other external sources. Assets for which a current value is not available may be reflected at a previous value or as not valued, at par value, or at a nominal value. Values shown do 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.
Estimated Current Yield and Estimated Annual Income are estimates provided for informational purposes only and should not be relied on for making investment, trading, or tax decisions. The estimates may not represent the actual value earned by your investments and they provide no guarantee of what your investments may earn in the future. 16 [!libank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
TRANSACTION DETAIL
Date
Posted Activity
Beginning Balance 05/01/2025
05/01/25 Asset Income
05/01/25 Asset Income
05/05/25 Asset Income
05/08/25 Cash Receipt
05/08/25 Asset Income
05/13/25 Purchase
05/13/25 Purchase Accrued Interest
05/14/25 Asset Income
05/15/25 Purchase
05/15/25 Asset Income
Description
Interest Earned On
American Express C D 5.000% 11 /01 /28
0.024795 USD/$1 Pv On 250,000 Par Value Due 5/1/25
Interest Earned On
First Am Treas Ob Fd Cl Z
Interest From 4/1/25 To 4/30/25
Interest Earned On
Synchrony Bank C D 5.000% 11 /03/28
0.024795 USD/$1 Pv On 250,000 Par Value Due 5/5/25
Cash Receipt
Transfer From Checking
Per Ins Dtd 05/08/2025
Interest Earned On
Celtic Bk C D 4.600% 12/08/27
0.003781 USD/$1 Pv On 250,000 Par Value Due 5/8/25
Purchased 1,500,000 Par Value Of
U S Treasury Nt 3.500% 4/30/30
Trade Date 5/12/25
Purchased Through Cantor Fitzgerald & Co.
1,500,000 Par Value At 97.767 %
Paid Accrued Interest On Purchase Of
U S Treasury Nt 3.500% 4/30/30
Income Debit 1,854.62- USD
Interest Earned On
Uinta Bk Mtn CD 3.950% 2/14/29
0.003247 USD/$1 Pv On 250,000 Par Value Due 5/14/25
Purchased 500,000 Par Value Of
U S Treasury Nt 4.125% 5/15/35
Trade Date 5/12/25
Purchased Through Cantor Fitzgerald & Co.
500,000 Par Value At 99 %
Interest Earned On
U S Treasury Nt 4.125% 11 /15/32
0.020625 USD/$1 Pv On 2,000,000 Par Value Due 5/15/25
17 Cash
$0.00
6,198.63
4,549.04
6,198.63
3,500,000.00
945.21
-1,466,505.00
-1,854.62
811.64
-495,000.00
41,250.00
21006
DD- -M -UC-UU -151-04
0220657 -00-04007-04
May 1, 2025 to May 31, 2025
Tax Cost
$61,609,675.08
1,466,505.00
495,000.00
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
TRANSACTION DETAIL continued
Date
Posted Activity
05/15/25 Asset Income
05/15/25 Asset Income
05/15/25 Asset Income
05/15/25 Asset Income
05/22/25 Asset Income
05/27/25 Asset Income
05/28/25 Asset Income
05/28/25 Asset Income
Purchase
Sale
Ending Balance 05/31/2025
Description
Interest Earned On
U S Treasury Nt 4.250% 11 /15/34
0.02125 USD/$1 Pv On 4,000,000 Par Value Due 5/15/25
Interest Earned On
U S Treasury Nt 4.375% 5/15/34
0.021875 USD/$1 Pv On 1,000,000 Par Value Due 5/15/25
Interest Earned On
US Treasury Nt 4.500% 11/15/33
0.0225 USD/$1 Pv On 1,500,000 Par Value Due 5/15/25
Interest Earned On
US Treasury NI 4.625% 11/15/26
0.023125 USD/$1 Pv On 1,000,000 Par Value Due 5/15/25
Interest Earned On
Medallion Bk CD 4.300% 12/22/28
0.003534 USD/$1 Pv On 250,000 Par Value Due 5/22/25
Interest Earned On
Comenity Cap Bk C D 4.450% 7/26/28
0.003658 USD/$1 Pv On 250,000 Par Value Due 5/26/25
Interest Earned On
Bank Five Nine CD 4.500% 7/28/28
0.003699 USD/$1 Pv On 250,000 Par Value Due 5/28/25
Interest Earned On
First Natl Bk C D 4.300% 12/28/28
0.003534 USD/$1 Pv On 250,000 Par Value Due 5/28/25
Combined Purchases For The Period 5/ 1/25 - 5/31/25 Of
First Am Treas Ob Fd Cl Z
Combined Sales For The Period 5/ 1 /25 - 5/31 /25 Of
First Am Treas Ob Fd Cl Z
18 Cash
85,000.00
21,875.00
33,750.00
23,125.00
883.56
914.38
924.66
883.56
-3,522,309.31
1,758,359.62
21006
00- -M -UC-UU -151-04
0220657 -00-04007 -04
May 1, 2025 to May 31, 2025
Tax Cost
3,522,309 .31
-1,758,359.62
$0.00 $65,335,129.77
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
MATURITY
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035 - 2039
Total of Category
MOODY'S RA TING
Aa1
N/A
30%
24%
18%
12%
6%
0%
2025
BOND SUMMARY
2026 2027 2028 2029 2030
19 2031 2032
Par Value
14,325,000.00
7,500,000.00
7,000,000.00
7,250,000.00
10,250,000.00
1,500,000.00
1,000,000.00
2,000,000.00
1,500,000.00
7,000,000.00
3,500,000.00
$62,825,000.00
58,325,000.00
2,250,000.00
2033
21006
00- -M -UC-UU -151-04
0220657 -00-04007 -04
May 1, 202~ to May 31, 2025
2034 2035
2039
Market Value
14,251,211.25
7,320,725.00
6,953,717 .50
7,333,182.50
10,218,570.00
1,468,245.00
1,020,430.00
1,991,180.00
1,522,380.00
6,890,330.00
3,550,625.00
$62,520,596.25
57,995,236 .25
2,248,687.50
Percentage of
Category
22.80 11.71
11.13 11.73
16.35 2.35
1.63 3.18
2.43 11.02
5.67 100.00
92.76 3.60
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
NOT RATED
Total of Category
S&P RATING
AA+
N/A
NOT RATED
Total of Category
BOND SUMMARY continued
Par Value
2,250,000.00
$62,825,000.00
30,825,000.00
28,000,000.00
4,000,000 .00
$62,825,000.00
BOND SUMMARY MESSAGES
Data contained within this section excluded Mutual Funds, Exchange Traded Funds, and Closed-Ended Funds. 20 Market Value
2,276,672.50
$62,520,596.25
30,485,091.25
28,004,520.00
4,030,985.00
$62,520,596.25
21006
00- -M -UC-UU -151-04
0220657 -00-04007-04
May 1, 2025 to May 31, 2025
Percentage of
Category
3.64 100.00
48.76 44.79
6.45 100.00
•
CITY OF LAGUNA NIGUEL
PUBLIC AGENCY
RETIREMENT SERVICES
PARS Post-Emp loyment Benefits Trust
Tamara Letourneau
City Manager
City of Laguna Niguel
30111 Crown Valley Parkway
Laguna Niguel. CA 92677
Account Summary
Source
PENSION
Totals
Investment Selection
Source
PENSION Moderate • Index
Investment Objective
Source
Balance as of
5/1/2025
$2,291,882.64
$2,291,882 64
Contributions
$0.00
Earnings
$59,992 .19
$59,992 19
Expenses
$1,128.03
$1.128.03
Account Report for the Period
5/1/ 2025 to 5/31/ 202 5
Distributions Transfers
$0.00 $0.00
$0 .00 $000
Balance as of
5/31/2025
$2,350,746 .80
$2,350,746 .80
PENSION
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 of total return. although growth through capital appreciation is equally important . The portfolio Investment Return
Source 1-Month 3-Months
PENSION 2.62% 0.58%
will be allocated between equity and fixed income investments 1-Year l •Years
967% 6.13%
A11nua!ited Return
5-Years
502%
TO-Years
Information as provided by US Bank, Trustee for PARS Not FDIC Insured No Bank Guarantee May Lose Value Plan's I nee tion Date
5/26/2020
Past performance does not guarantee future results Performance returns may not reflect the deductJon of applicable fees, which could reduce returns Information Is deemed re!iable but may be subJeCt to change Investment Return Annuahzed rate of re1urn 1s the return on an investment over a perrod other lhan one year mulUphed or d1v1ded to give a compa rable one-year return Account balances are Inclus1ve of Trust Adm1n1strat1on. Trustee and Investment Maa.;u;iement fees.
Headquarters • 4350 Von Karman Ave, Surte 100. Newport Beach. CA 92660 800 540 6369 Fax 949 250 1250 www pars org 21