To:
FROM:
DATE:
SUBJECT:
CITY OF LAGUNA NIGUEL
CITY COUNCIL AGENDA ITEM
Honorable Mayor and Council Members
Tamara S. Letourneau, City Manager
August5,2025
Investment Report as of June 30, 2025
RECOMMENDATION
Staff recommends that the City Council receive and file the City of Laguna Niguel Investment Report as of June 30, 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) recently concluded its July meeting. The Committee voted to leave the Fed funds rate unchanged for the fifth consecutive meeting at 4.25%-4.50%. The voting was not unanimous, however, as there were two Committee members that preferred the target range for interest rates be lowered by 0.25%. The Fed Watch tool is still projecting a 45% probability that interest rates will be lowered at the next meeting in September, but that is down from a 95% probability predicted a month ago, as can be seen in the graphic on the next page. The tool is also predicting an 89% probability that rates are at least 3.75% at the end of the calendar year, which is still historically high. It will also allow the City to continue to capture higher yields for longer.
Rates are predicted to continue to decrease, albeit more gradually then originally predicted.
Page2
Ml:ETINGINFOR.IMTION PftOQABIUTl'E~
IIEETINGDATE -= """RES MIDPRICE
""""'"""' ''"'""' .. .., "°O.IAHOI!
""" l7Sep2025 zaus 30S1!1p2025 9572S0 ,. ... 205192 452% 548% 00 % Target Rate Probabilities for 17 Sep 2025 Fed Meeting - Currem target rate rs 125--450
,oo,
so,
, ..
54.8'6
t 45.29'
le
40"
zos
•• 400 -42S 425-450
T.l.rgec Rate (In bps)
PRO&ABI\.ITYt'li)
TARGETAATI:{81"5)
I IIAY
·- '"°""'
HOW" ,t,N\,~ 2JJ1JL20 25 lGJUN20M
375-400 .... ""
l'it • 193%
<100-425 45:!%
""' ..... 754 '!1.
The CME FedWatch tool is predicting the target range for interest rates at the end of 2026 to be 2.25-2.50%, signifying 8 rate cuts of 0.25% over that timespan. If those predictions are correct, the City will continue to increase its yield now and in the future. And if those predictions are incorrect, the City will still receive a significant increase to the overall yield as there are still several low yielding securities in the City's portfolio. As those securities mature, the City can immediately reinvest those funds in a higher yielding investment.
In summary, the City's portfolio continues to b~ in a strong position, and regardless of where the interest rates move, the average weighted yield will increase significantly over. these next few months.
The following table compares the portfolio balance as of June 2025 to May 2025.
Portfolio Balance May 2025 June2025 I Difference
Balance $68,766,305 $66,434,746 I ($2,331,559)
• Over the past month, the City's total cash and investments experienced a net decrease of $2,331,559. This decrease was expected this month as the City does not receive much property taxes during the months of June through October. Property taxes represent more than 50% of total General Fund revenues.
• The percentage of pooled investments in the Local Agency Investment Fund (LAIF) remained at 0.16%.
6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
Page3
• The average weighted maturity of City investments, including investment pools and money market funds, increased to 1,251 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 bank.
• The net yield of LAIF decreased from 4.272% to 4.269%. This represents the tenth consecutive month the LAIF yield has decreased. The net yield for the First American money market funds in the City's custodian account remained at 4.200%. The Fed Funds rate and the LAIF/PMIA rate are nearly even, and on a downward trend.
Average Monthly Yield Comparison - 06/2020 through 06/2025 - PMIA
- S&P
---· Fed Funds
June Y-111lds
0 0 ~ 8i
~ ~
;;;j ~ ~ gj gj
(")
""
(") .., -z -z -z -z .,., .,.,
"' ~ "' ~ "" "" "" ::: f:!
<'I
"' "" ~ "" 0 0 0 0 0 0 0 0 0 0 0 0 0 0
PIIIA 4.269 "1.
S&P GIP 4.460%
"' ~ t:! ~ "' al t:! "I N
~ ~ ~ "" ~ ~ ~ "" ~
N
"' ~ co "' co "" M iD <ti N co C\J ;;a; Fed Funds 4.3 10% ~ ~ ~ ~ ~
• The average weighted yield of City investments, including investment pools and money market funds, decreased from 3.307% to 3.267%. The decrease is predominantly due to a decrease in the size of the portfolio. When the portfolio decreases, the money primarily comes from the money market pools, which are earning 4.20% , resulting in a decreased weighted yield. 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 LAIF
Yield Treasury Treasury Treasury
3.267% 3.790% 3.960% 4.290%
The monthly Investment Report as of June 30, 2025, is attached.
ALTERNA TIVES CONSI DERED
4.269%
The City Council can choose not to receive and file the City of Laguna Niguel Investment Report as of June 30, 2025.
FISCAL REVIEW
There is no fiscal impact as a result of this action.
CONCLUSION
Page4
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 June 30, 2025
ATTACHMENT A
Investment Report as of June 30, 2025
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
as of
June 30, 2025
Tamara S. Letourneau
CITY MANAGER
Trevor Agrelius
FINANCE DIRECTOR
August 5, 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
6-22
23 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 June 30, 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
6/30/2025
Settlement Maturity Coupon Purchased Percent of Max Allowed Per Market Anticipated total Description Date Date Rate Yield Cost Portfolio Investment Policy Value Interest eamed Petty Cash/Change Drawers 2,500 .00 0.00% N/A 2,500.00
US Bank Checking & Investment Accounts 3.911% 2,779,425.78 4.18% N/A 2,779,425 .78 US Bank Money Market 4.200% 1,580,621.65 2.38% 10.00% 1,580,621.65 Local Agency Investment Fund 4.269% 107,800.05 0.16% >$40 million or 55% 107,800 ,05 US Treasury Note: 42.17% N/A
912810EV6 6/22/2023 8/15/2025 6.875% 4.311% 2,104,000 .00 2,006,340.00 195,074.52 912820KB 11/30/2023 11/15/2026 4.625% 4.310% 1,008,640 ,00 1,009,690.00 128,749.72 912820AO 11/10/2023 9/30/2028 4.625% 4.500% 1,005,380.00 1,027,700 .00 221,376.41 912820N2 12/8/2023 11/30/2028 4.375% 4,020% 2,031,720 .00 2,041,640.00 407,033.11 91282CHD6 4/12/2024 3/31/2029 4.250% 4.500% 1,475,175 ,00 1,520,280 .00 329,913 ,80 91282CFJ5 10/24/2024 8/31/2029 3,125% 4.000% 961,730 .00 975,860 .00 186,760.06 91282CLN9 11/6/2024 9/30/2029 3.500% 4.310% 970,990 ,00 989,920.00 205,120 .71 9l282CMA6 12/20/2024 11/30/2029 4.125% 4.330% 990,940 ,00 1,014,690.00 212,304.96 91282CMDO 1/13/2025 12/31/2029 4.375% 4.470% 995,790.00 1,024,810 .00 221,095.66 91282CGZ8 5/13/2025 4/30/2030 3.500% 4.000% 1,466,505.00 1,480,725.00 291,372.45 91282CMC2 4/24/2025 12/31/2031 4.500% 4.075% 1,024,620.00 1,031,090 .00 279,346 .50 91282CFV8 4/11/2025 11/15/2032 4.125% 4.126% 1,999,870.00 2,013,820.00 627,306 ,89 912820Jl 1/7/2025 11/15/2033 4.500% 4.530% 1,496,655 ,00 1,540,785.00 600,713.03 91282CKQ3 1/13/2025 5/15/2034 4.375% 4.660% 978,560.00 1,015,590 .00 425,899 .88 91282CLF6 10/9/2024 8/15/2034 3.875% 4.079% 1,955,400.00 1,952,740.00 786,025.96 91282CLW9 12/20/2024 11/30/2034 4.250% 4.349% 3,968,200.00 4,013,120 .00 1,717,119 .88 91282CMMO 3/25/2025 2/15/2035 4.625% 4.275% 3,083,550.00 3,095,160 .00 1,305,216.03 91282CNC1 5/15/2025 5/15/2035 4,125% 4.375% 495,000.00 500,780.00 216,681.16 Certificates of Deposit: 6.02% 30%
15140RCY3 7/25/2023 7/26/2027 4.700% 4.700% 250,000.00 253,577.50 47,064.38 8562834C7 7/31/2023 8/2/2027 4.600% 4.600% 250,000 .00 253,107.50 46,094.52 15118RM38 12/8/2023 12/8/2027 4.600% 4,600% 250,000.00 253,577 .50 46,031 ,51 33610RVD2 12/12/2023 12/10/2027 4.550% 4,550% 250,000 .00 253,265.00 45,468.84 05580AY24 7/18/2023 4/14/2028 4.400% 4,408% 249,875.00 252,555,00 52,266 ,02 2546733V6 7/18/2023 4/17/2028 4.400% 4.408% 249,875.00 252,642.50 52,356.55 20033A4J2 7/26/2023 7/26/2028 4.450% 4.450% 250,000 .00 253,220.00 55,685.96 062119CD2 7/28/2023 7/28/2028 4.500% 4.500% 250,000 ,00 253,585.00 56,311 .64 02589AF64 11/1/2023 11/1/2028 5.000% 5.000% 250,000 .00 257,467 .50 62,568.49 87165E3V7 11/3/2023 11/3/2028 5.000% 5.000% 250,000 .00 257,477.50 62,568.49 795451DH3 12/13/2023 12/13/2028 4.400% 4.400% 250,000 .00 252,922 .50 55,060 ,27 58404DTX9 12/22/2023 12/22/2028 4.300% 4.300% 250,000.00 252,235.00 53,808.90 32110YK46 12/28/2023 12/28/2028 4.300% 4.300% 250,000.00 252,237.50 53,808.90 848608F86 1/31/2024 1/31/2029 3.950% 3,950% 250,000.00 249,337.50 49,429.11 903572GQ2 2/14/2024 2/14/2029 3.950% 3,950% 250,000.00 249,315.00 49,429 .11 89235MPR6 6/28/2024 6/28/2029 4.500% 4.500% 250,000 .00 254,027.50 56,280 ,82 Federal National Mortgage Association: 13.01% 25.00%
3135G05X7 1/29/2021 8/25/2025 0.375% 0.519% 8,645 ,922.29 8,646,669.00 205,183.37 Federal Farm Credit Banks: 16.57% 25.00%
3133EPYW9 10/20/2023 10/20/2025 5,125% 5.178% 999,000 ,00 1,001,940 ,00 103,598.16 3133ENVD9 4/26/2022 4/26/2027 2.875% 2,900% 3,995,360.00 3,930,400.00 579,644.64 3133EPH81 12/8/2023 10/4/2027 4.500% 4.150% 2,024,580.00 2,027,640 .00 321,347.99 3133EPW84 1/30/2024 1/18/2029 3.875% 3.930% 2,493,800.00 2,497,475 .00 487,370.28 3133EP3B9 2/26/2024 2/13/2029 4.125% 4,200% 1,494,975.00 1,511,100.00 312,052.48 Federal Home Loan Banks: 15.50% 25.00%
3130AJTF6 7/14/2020 7/14/2025 0.740% 0,740% 1,000,000 ,00 998,350.00 37,020,27 3130AfTX7 7/21/2020 7/21/2025 0.720% 0.720% 625,000.00 623,656.25 22,512.33 3130AMF56 8/12/2021 6/12/2026 0,750% 0.735% 2,001,415.36 1,939,820 ,00 71,133.87 3l30A8XY4 10/18/2021 9/11/2026 1.875% 1.100% 4,665,690 ,00 4,393,800 .00 251,551.00 3130AWC24 6/23/2023 6/9/2028 4.000% 3,930% 2,006 ,180.00 2,015,340 .00 391,622 ,28 45 08% 60,00%
Total City Investments Including Investment Pools 66,434,745.13 100.00% 66,361,827.73 s 11,984,380.93 Restricted for Specific Use
PARS 115 Pension Trust 2,000,000.00 20,00% 2,419,140.81 Average weighted maturity of Investments, excluding Investment Pools: 1,341 days Average weighted maturity of Investments, including Investment Pools and Money Market: 1,251 days Average weighted yield of Investments, excluding Investment Pools: 3.212% Average weighted yield of Investments, including Investment Pools and Money Market: 3.267% • Market value of City investments is provided by US Bank 2 7/8/25, 10:22 PM
California State Treasurer
Fiona Ma, 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
June 2025 Statement
Account Summan:
Total Deposit:
Total Withdrawal:
https://laifms.treasurer.ca.gov/RegularStatement.aspx
LAIF Regular Monthly Statement
July 08, 2025
LAIFHome
PMIA Average Monthly:
Yields
Tran TJ'.P-e Definition
/,
0.00 Beginning Balance :
0.00 Ending Balance:
3 107,800.05
107,800.05
1/1
PMIA/LAIF Performance Report
as of 07/09/25
Quarterly Performance
Quarter Ended 3/31/25
PMIA Average Monthly
Effective Yieldsl1l
LAIF Apportionment Rate121:
LAIF Earnings Ratio'21:
LAIF Administrative Cost111':
LAIF Fair Value Factor111:
PMIA Daily'1>:
PMIA Quarter to Date'11:
PMIA Average Life111:
4.48 0.00012266258268207
0.26 1.000849191
4.30 4.34
244
June
May
April
March
February
January
Pooled Money Investment Account
Monthly Portfolio Composition 111
5/31/25
nme
Deposits
3.17%
$166.7 billion
Corporate
Bonds
0.61%
Certificates of
Deposit/Bank Notes
9.63%
4.269
4.272
4.281
4.313
4.333
4.366
Treasuries
53.83%
Agencies
25.22%
Chart does not include $1,087,000 .00 in mortgages, which equates to 0.001%. Percentages may not total 1000/4 due to rounding.
Daily rates are now available here . .View PMIA Daily Rates Notes: The apportionment rate includes interest earned on the Ca/PERS Supplemental Pension Payment pursuant to Government Cade 20825 (c}(l) and interest earned on the Wildfire Fund loan pursuant to Public Utility Code 3288 (a). *The percentage of administrative cost equals the total administrative cost divided by the quarterly interest earnings . The law provides that 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 of 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:
111 State of California, Office of the Treasurer
121 State of California, Office of the Controller
~'\ \tiVES;41. State of California
~~~4',>
~Ii . • ~ t2 C">
... - 0
Pooled Money Investment Account
g ~ ~~ Market Valuation .... ...,
,I' ,:,
"'"<'>- ,{!."v
6/30/2025 l'.llau111\°fl '
Carrying Cost Plus
Description Accrued Interest Purch. Amortized Cost
United States Treasurv:
Bills $ 53,070,105,400.83 $ 53,553,235,136.11
Notes $ 45,065,440,536.21 $ 45,017,038,229.84
Federal Agency:
SBA $ 241,952,774.98 $ 241,882,090.69
MBS-REMICs $ 1,062,524.00 $ 1,062,524.00
Debentures $ 6,975,704,585.76 $ 6,975,704,585.76
Debentures FR $ - $ -
Debentures CL $ 3,350,000,000.00 $ 3,350,000,000.00
Discount Notes $ 30,815,944,152 .72 $ 31,081,797,090.46 Supranational Debentures $ 3,985,672,458 .38 $ 3,983,248,483.36 Supranational Debentures FR $ - $ -
CDs and YCDs FR $ - $ -
Bank Notes $ -
CDs and YCDs $ 16,250,000,000.00 $ 16,250,000,000.00
Commercial Paper $ 11,878,071,791.64 $ 11,988,394,027.79 Corporate:
Bonds FR $ - $ -
Bonds $ 952,811,187.28 $ 952,792,103.94
Repurchase Agreements $ - $ -
Reverse Repurchase $ - $ -
Time Deposits $ 5,281,000,000.00 $ 5,281,000,000.00
PMIA & GF Loans $ 262,742,740.00 $ 262,742,740 .00
TOTAL $ 178,130,508,151 .80 $ 178,938,897,011.95
Fair Value Including Accrued Interest
Repurchase Agreements , Time Deposits, PMIA & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost).
Fair Value
$ 53,553,095,196 .50
$ 45,220,920,060.50
$ 244,164,765.36
$ 1,053,290.67
$ 6,979,649,750.00
$ -
$ 3,360,195,500.00
$ 31,069,446,050 .00
$ 3,993,975,100.00
$ -
$ -
$ -
$ 16,248,094,811.24
$ 11,988,292,097.20
$ -
$ 950,691,880 .00
$ -
$ -
$ 5,281,000,000 .00
$ 262,742,740 .00
$ 179,153,321,241.47
$ 179,918,091,939 .63
The value of each participating dollar equals the fair value divided by the amortized cost (1.001198310) 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 $20,023,966.20 or $20,000,000 .00 x1 .001198310 5 -
Accrued Interest
NA
$ 456,554,961.50
$ 966,339.45
$ 4,635.17
$ 56,993,149.00
$ -
$ 27,168,533.00
NA
$ 38,528,655.00
$ -
$ -
$ -
$ 174,922,944 .49
NA
$ -
$ 9,631,480 .55
$ -
$ -
NA
NA
$ 764,770,698 .16
[!!1bank .
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Beginning Market Value
Taxable Interest
Paid To/For Beneficiaries
Long Term Gains/Losses
Change in Investment Value
Ending Market Value
MARKET VALUE SUMMARY
Current Period
06/01/25 to 06/30/25
$64,887,318.37
213,899 .53
-2,000,000.00
-4,010.00
374,894.00
$63,472,101.90
6 $80,000,000
$70,000,000
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$20,000,000
$10,000,000
$0
24752
00- -M -UC-U U -182-04
0220657-00-04007 -04
June 1, 2025 to June 30, 2025
Change: -1,415,216.47
I
Beginning
MV
$64,887,318 .37
Ending
MV
$63,472,101.90
[!Libank .
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Assets
Cash & Equivalents
Taxable Bonds
Total Market Value
Current Period %of
Market Value Total
1,580,621.65 2.50
61,891,480.25 97.50
$63,472,101.90 100.00
ASSET SUMMARY
Estimated
Annual Income
66,413.52
2,047,275.00
$2,113,688.52
7 Taxable Bonds _
$61,891,480 .25
24752
00- -M -UC-UU -182-04
0220657 -00-04007-04
~J ~
June 1, 2025 to June 30, 2025
~--- -Cash & Equiv
- - S1 ,580,621.65
Fixed Income Summary
_____ Corporate Issues
,....... - $4,050,550 .00
US Government Issues ._
$57 ,840,930.25
~ bank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Taxable Interest
Total Current Period Income
INCOME SUMMARY
Income Received
Current Period
213,899.53
$213,899.53
8 24752
00- -M -UC-UU -182-04
0220657-00-04007-04
June 1, 2025 to June 30, 2025
~ bank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Beginning Cash 06/01/2025
Taxable Interest
Paid To/For Beneficiaries
Sales
Net Money Market Activity
Ending Cash 06/30/2025
CASH SUMMARY
Cash
$0.00
213,899.53
-2,000,000.00
1,000,000.00
786,100.47
$0.00
9 24752
00- -M -UC-UU -182-04
0220657-00-04007-04
fjj
June 1, 2025 to June 30, 2025
24752
00- -M -UC-UU -182-04
0220657-00-04007-04
[!Ljbank .
CITY OF LAGUNA NIGUEL Page 5 of 17
ACCOUNT NUMBER: 6736304200 June 1, 2025 to June 30, 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
1,580,621.650 1.0000 1,580,621 .65 1,580,621.65 0.00 2.5 66,413.52 4.20 Total Cash/Money Market $1,580,621.65 $1,580,621.65 $0.00 2.5 $66,413.52 Total Cash & Equivalents $1,580,621.65 $1,580,621.65 $0.00 2.5 $66,413.52 Taxable Bonds
US Government Issues
FNMA - 3135G05X7
0.375 08/25/2025
8,700,000.000 99.3870 8,646,669.00 8,645,922.29 746.71 13.6 32,625.00 0.38 Federal Farm Credit Bks - 3133ENVD9
2.875 04/26/2027
4,000,000.000 98.2600 3,930,400.00 3,995,360.00 -64,960.00 6.2 115,000.00 2.93 Federal Farm Credit Bks - 3133EPW84
3.875 01/1812029
2,500,000.000 99.8990 2,497,475.00 2,493,800.00 3,675.00 3.9 96,875.00 3.88 Federal Farm Credit Bks - 3133EP3B9
4.125 02/1312029
1,500,000.000 100.7400 1,511,100.00 1,494,975.00 16,125.00 2.4 61 ,875.00 4.09 Federal Farm Credit Bks - 3133EPH81
4.500 10104/2027
2,000,000.000 101.3820 2,027,640.00 2,024,580.00 3,060.00 3.2 90,000.00 4.44 10 24752
DD- -M -UC-UU -182-04
0220657-00-04007-04
~ bank. ~
CITY OF LAGUNA NIGUEL Page 6 of 17
ACCOUNT NUMBER: 6736304200 June 1, 2025 to June 30, 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
1,000,000.000 100.1940 1,001 ,940.00 999,000.00 2,940.00 1.6 51,250.00 5.11 Federal Home Loan Bks - 3130AJTX7
0.720 07/21/2025
625,000.000 99.7850 623,656.25 625,000.00 -1,343.75 1.0 4,500.00 0.72 Federal Home Loan Bks - 3130AJTF6
0.740 07/14/2025
1,000,000.000 99.8350 998,350.00 1,000,000.00 -1,650.00 1.6 7,400.00 0.74 Federal Home Loan Bks - 3130AMFS6
0.750 06/12/2026
2,000,000.000 96.9910 1,939,820.00 2,001,415.36 -61,595.36 3.1 15,000.00 0.77 Federal Home Loan Bks - 3130A8XY4
1.875 09/11/2026
4,500,000.000 97.6400 4,393,800.00 4,665,690.00 -271,890.00 6.9 84,375.00 1.92 Federal Home Loan Bks - 3130AWC24
4.000 06/09/2028
2,000,000.000 100.7670 2,015,340.00 2,006,180.00 9,160.00 3.2 80,000.00 3.97 US Treasury Bond - 912810EV6
6.875 08/15/2025
2,000,000.000 100.3170 2,006,340.00 2,104,000.00 -97,660.00 3.2 137,500.00 6.85 US Treasury Note - 91282CMMO
02/15/2035
3,000,000.000 103.1720 3,095,160.00 3,083,550.00 11,610.00 4.9 138,750.00 4.48 US Treasury Note - 91282CFJ5
3.125 08/31/2029
1,000,000.000 97.5860 975,860.00 961 ,730.00 14,130.00 1.5 31,250.00 3.20 U S Treasury Note - 91282CGZ8
3.500 04/30/2030
1,500,000.000 98.7150 1,480,725.00 1,466,505.00 14,220.00 2.3 52,500.00 3.55 11 24752
00- -M -UC-UU -1B2-04
0220657-00-04007-04
[!Libank .
CITY OF LAGUNA NIGUEL Page 7 of 17
ACCOUNT NUMBER: 6736304200 June 1, 2025 to June 30, 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 U S Treasury Note - 91282CLN9
3.500 09/30/2029
1,000,000.000 98.9920 989,920.00 970,990.00 18,930.00 1.6 35,000.00 3.54 U S Treasury Note - 91282CLF6
3.875 08/15/2034
2,000,000.000 97.6370 1,952,740.00 1,955,400.00 -2,660.00 3.1 77,500.00 3.97 US Treasury Note - 91282CKG5
4.125 03/31/2029
1,500,000.000 101.3520 1,520,280.00 1,475,175.00 45,105.00 2.4 61,875.00 4.07 U S Treasury Note - 91282CFV8
4.125 11/15/2032
2,000,000.000 100.6910 2,013,820.00 1,999,870.00 13,950.00 3.2 82,500.00 4.10 U S Treasury Note - 91282CMA6
4.125 11/30/2029
1,000,000.000 101.4690 1,014,690.00 990,940.00 23,750.00 1.6 41,250.00 4.06 US Treasury Note - 91282CNC1
4.250 05/15/2035
500,000.000 100.1560 500,780.00 495,000.00 5,780.00 0.8 21,250.00 4.24 US Treasury Note - 91282CLW9
4.250 11/15/2034
4,000,000.000 100.3280 4,013,120.00 3,968,200.00 44,920.00 6.3 170,000.00 4.24 US Treasury Note - 91282CKQ3
4.375 05/15/2034
1,000,000.000 101.5590 1,015,590.00 978,560.00 37,030.00 1.6 43,750.00 4.31 US Treasury Note - 91282CJN2
4.375 11/30/2028
2,000,000.000 102.0820 2,041,640.00 2,031,720.00 9,920.00 3.2 87,500.00 4.29 U S Treasury Note - 91282CMDO
4.375 12/31/2029
1,000,000.000 102.4810 1,024,810.00 995,790.00 29,020.00 1.6 43,750.00 4.27 12 24752
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0220657-00-04007-04
[!Ljbank ~
CITY OF LAGUNA NIGUEL Page 8 of 17
ACCOUNT NUMBER: 6736304200 June 1, 2025 to June 30, 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 - 91282CJJ1
4.500 11/15/2033
1,500,000.000 102.7190 1,540,785.00 1,496,655.00 44,130.00 2.4 67,500.00 4.38 US Treasury Note - 91282CMC2
4.500 12/31/2031
1,000,000.000 103.1090 1,031,090.00 1,024,620.00 6,470.00 1.6 45,000.00 4.36 US Treasury Note - 91282CJA0
4.625 09/30/2028
1,000,000.000 102.7700 1,027,700.00 1,005,380.00 22,320.00 1.6 46,250.00 4.50 US Treasury Note - 91282CJK8
4.625 11/15/2026
1,000,000.000 100.9690 1,009,690.00 1,008,640.00 1,050.00 1.6 46,250.00 4.58 Total US Government Issues $57,840,930.25 $57,964,647.65 -$123,717.40 91.1 $1,868,275.00 Corporate Issues
American Express Natl Bk - 02589AF64
CD
5.000 11/01/2028
250,000.000 102.9870 257,467.50 250,000.00 7,467.50 0.4 12,500.00 4.85 Bank Five Nine Oconomowoc Wis - 062119CD2
CD
4.500 07/28/2028
250,000.000 101.4340 253,585.00 250,000.00 3,585.00 0.4 11,250.00 4.44 Bmw Bk North Amer Salt Lake City - 05580A Y24
CD
4.400 04/14/2028
250,000.000 101.0220 252,555.00 249,875.00 2,680.00 0.4 11,000.00 4.35 Celtic Bk Salt Lake City Utah - 15118RM38
CD
4.600 12/08/2027
250,000.000 101.4310 253,577.50 250,000.00 3,577.50 0.4 11,500.00 4.53 13 24752
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0220657-00-04007-04
[!!ibank.
CITY OF LAGUNA NIGUEL Page 9 of 17
ACCOUNT NUMBER: 6736304200 June 1, 2025 to June 30, 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 Centier Bk Whitting Ind - 15140RCY3
CD
4.700 07/26/2027
250,000.000 101.4310 253,577.50 250,000.00 3,577.50 0.4 11,750.00 4.63 Comenity Cap Bk Draper - 20033A4J2
CD
4.450 07/26/2028
250,000.000 101.2880 253,220.00 250,000.00 3,220.00 0.4 11,125.00 4.39 Discover Bk Greenwood Del - 2546733V6
CD
4.400 04/17/2028
250,000.000 101.0570 252,642.50 249,875.00 2,767.50 0.4 11,000.00 4.35 First Natl Bk Amer East Lans - 3211 0YK46
CD
4.300 12/28/2028
250,000,000 100.8950 252,237.50 250,000.00 2,237.50 0.4 10,750.00 4.26 First Premier Bk Sioux Falls - 3361 0RVD2
CD
4.550 12/10/2027
250,000.000 101.3060 253,265.00 250,000.00 3,265.00 0.4 11,375.00 4.49 Medallion Bk Utah - 58404DTX9
CD
4.300 12/22/2028
250,000.000 100.8940 252,235.00 250,000.00 2,235.00 0.4 10,750.00 4.26 Sallie Mae Bk Salt Lake City - 795451DH3
CD
4.400 12/13/2028
250,000.000 101.1690 252,922.50 250,000.00 2,922.50 0.4 11,000.00 4.35 Spiritbank Tulsa Okla - 848608FB6
CD
3.950 01/31/2029
250,000.000 99.7350 249,337.50 250,000.00 -662.50 0.4 9,875.00 3.96 14 24752
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CITY OF LAGUNA NIGUEL Page 10 of 17
ACCOUNT NUMBER: 6736304200 June 1, 2025 to June 30, 2025 ASSET DETAIL {continued
Security Description Percent
Unrealized of Total Estimated Estimated
SharesfFace Amt Price Market Value Tax Cost Gainfloss Portfolio Annual Income Current Yield State Bk India Chicago Ill - 8562834C7 .
CD
4.600 08/02/2027
250,000.000 101.2430 253,107.50 250,000.00 3,107.50 0.4 11,500.00 4.54 Synchrony Bank CD - 87165E3V7
CD
5.000 11/03/2028
250,000.000 102.9910 257,477.50 250,000.00 7,477.50 0.4 12,500.00 4.85 Toyota Finl Svgs Bk Hend Nv - 89235MPR6
CD
4.500 06/28/2029
250,000.000 101.6110 254,027.50 250,000.00 4,027.50 0.4 11,250.00 4.43 Uinta Bk Min View - 903572GQ2
CD
3.950 02/14/2029
250,000.000 99.7260 249,315.00 250,000.00 -685.00 0.4 9,875.00 3.96 Total Corporate Issues $4,050,550.00 $3,999,750.00 $50,800.00 6.4 $179,000.00 Total Taxable Bonds $61,891,480.25 $61,964,397.65 -$72,917.40 97.5 $2,047,275.00 Total Assets $63,472,101.90 $63,545,019.30 -$72,917.40 100.0 $2,113,688.52 Estimated Current Yield 3.33
ASSET DETAIL MESSAGES
Time of trade execution and trading party (if not disclosed) will be provided upon request. 15 [!L1bank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
ASSET DETAIL MESSAGES (continued)
24752
00- -M -UC-UU -182-04
0220657-00-04007-04
June 1, 2025 to June 30, 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 [!Ljbank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
TRANSACTION DETAIL
Date
Posted Activity
Beginning Balance 06/01/2025
06/02/25 Asset Income
06/02/25 Asset Income
06/02/25 Asset Income
06/02/25 Asset Income
06/06/25 Cash Disbursement
06/09/25 Asset Income
06/09/25 Asset Income
06/11 /25 Cash Disbursement
06/12/25 Asset Income
06/12/25 Asset Income
Description
Interest Earned On
Spiritbank Tulsa CD 3.950% 1/31/29
0.003355 USD/$1 Pv On 250,000 Par Value Due 5/31/25
Interest Earned On
U S Treasury Nt 4.125% 11 /30/29
0.020625 USD/$1 Pv On 1,000,000 Par Value Due 5/31/25
Interest Earned On
U S Treasury NI 4.375% 11 /30/28
0.021875 USD/$1 Pv On 2,000,000 Par Value Due 5/31/25
Interest Earned On
First Am Treas Ob Fd Cl Z
Interest From 5/1/25 To 5/31/25
Cash Disbursement
Paid To City Of Laguna Niguel
Deposit To Checking Acct
To Fund DOA 06/06/2025
Interest Earned On
Celtic Bk C D 4.600% 12/08/27
0.003907 USD/$1 Pv On 250,000 Par Value Due 6/8/25
Interest Earned On
F H L B Deb 4.000% 6/09/28
0.02 USD/$1 Pv On 2,000,000 Par Value Due 6/9/25
Cash Disbursement
Paid To City Of Laguna Niguel
Deposit To Checking Acct
To Fund DOA 06/11/2025
Interest Earned On
F H LB Deb 0.750% 6/12/26
0.00375 USD/$1 Pv On 2,000,000 Par Value Due 6/12/25
Interest Earned On
First Premier Bk CD 4.550% 12/10/27
0.022688 USD/$1 Pv On 250,000 Par Value Due 6/12/25
17 Cash
$0.00
838.70
20,625.00
43,750.00
8,065.98
-1,000,000.00
976.71
40,000.00
-1,000,000.00
7,500.00
5,671.92
24752
00- -M -UC-UU -182-04
0220657-00-04007-04
-
June 1, 2025 to June 30, 2025
Tax Cost
$65,335,129.77
[!L1bank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
TRANSACTION DETAIL (continued
Date
Posted Activity_
06/13/25 Sale
06/13/25 Asset Income
06/13/25 Asset Income
06/16/25 Asset Income
06/23/25 Asset Income
06/26/25 Asset Income
06/30/25 Asset Income
06/30/25 Asset Income
06/30/25 Asset Income
06/30/25 Asset Income
06/30/25 Asset Income
Description
Matured 1,000,000 Par Value Of
F H LB Deb 5.125% 6/13/25
Trade Date 6/13/25
1,000,000 Par Value At 100 %
Interest Earned On
F H LB Deb 5.125% 6/13/25
0.025625 USD/$1 Pv On 1,000,000 Par Value Due 6/13/25
Interest Earned On
Sallie Mae Bk C D 4.400% 12/13/28
0.02194 USD/$1 Pv On 250,000 Par Value Due 6/13/25
Interest Earned On
Uinta Bk Mtn CD 3.950% 2/14/29
0.003355 USD/$1 Pv On 250,000 Par Value Due 6/14/25
Interest Earned On
Medallion Bk CD 4.300% 12/22/28
0.003652 USD/$1 Pv On 250,000 Par Value Due 6/22/25
Interest Earned On
Comenity Cap Bk C D 4.450% 7/26/28
0.003779 USD/$1 Pv On 250,000 Par Value Due 6/26/25
Interest Earned On
Bank Five Nine C D 4.500% 7/28/28
0.003822 USD/$1 Pv On 250,000 Par Value Due 6/28/25
Interest Earned On
First Natl Bk C D 4.300% 12/28/28
0.003652 USD/$1 Pv On 250,000 Par Value Due 6/28/25
Interest Earned On
Toyota Finl C D 4.500% 6/28/29
0.022438 USD/$1 Pv On 250,000 Par Value Due 6/28/25
Interest Earned On
Spiritbank Tulsa CD 3.950% 1/31/29
0.003247 USD/$1 Pv On 250,000 Par Value Due 6/30/25
Interest Earned On
US Treasury Nt 4.375% 12/31/29
0.021875 USD/$1 Pv On 1,000,000 Par Value Due 6/30/25
18 Cash
1,000,000.00
25,625.00
5,484.93
838.70
913.01
944.86
955.48
913.01
5,609.59
811.64
21 ,875.00
24752
OD- -M -UC-UU -182-04
0220657-00-04007-04
June 1, 2025 to June 30, 2025
Tax Cost
-1,004,010 .00
[!libank~
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
TRANSACTION DETAIL (continued
Date
Posted Activity
06/30125 Asset Income
Purchase
Sale
Ending Balance 06/30/2025
Description
Interest Earned On
U S Treasury NI 4.500% 12131131
0.0225 USD/$1 Pv On 1,000,000 Par Value Due 6130125
Combined Purchases For The Period 611125 - 6130125 Of
First Am Treas Ob Fd Cl Z
Combined Sales For The Period 611125 - 6130125 Of
First Am Treas Ob Fd Cl Z
19 Cash
22,500.00
-1,213,899.53
2,000,000.00
$0.00
24752
00- -M -UC-UU -182-04
0220657-00-04007-04
rt
June 1, 2025 to June 30, 2025
Tax Cost
1,213,899 .53
-2,000,000.00
$63,545,019.30
[!Ljbank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Taxable Bonds
Federal Home Loan Bks
5.125 06/13/2025
3130AWLY4
Total Taxable Bonds
Total Sales & Maturities
Settlement
Date
06/13/25
Description
Matured 1,000,000
Par Value
Trade Date 6/13/25
SALE/MATURITY SUMMARY
1,000,000 Par Value At 100 %
SALE/MATURITY SUMMARY MESSAGES
Estimated Year-To-Date Long-Term Gain (Loss): ($192,122.71) Estimates should not be used for tax purposes
20 Tax Cost
-1,004,010.00
-$1,004,010.00
-$1,004,010.00
24752
00- -M -UC-UU -182-04
0220657-00-04007-04
June 1, 2025 to June 30, 2025
Proceeds
1,000,000 .00
$1,000,000.00
$1,000,000.00
Estimated
Gain/Loss
-4,010.00
-$4,010.00
-$4,010.00
[!Ljbank~
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
21 2031 2032
Par Value
13,325,000.00
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
$61,825,000.00
57,325,000.00
2,250,000.00
2033
24752
OD- -M -UC-UU -182-04
0220657-00-04007-04
~1
~
June 1, 2025 to June 30, 2025
2034 2035
2039
Market Value
13,276,955.25
7,343,310.00
6,971,567.50
7,369,022 .50
10,286,815.00
1,480,725.00
1,031,090.00
2,013,820.00
1,540,785.00
6,981,450.00
3,595,940.00
$61,891,480.25
57,340,150 .25
2,264,332.50
Percentage of
Category
21.46 11 .87
11 .27
11 .91
16.62 2.39
1.66 3.25
2.48 11.28
5.81 100.00
92.65 3.66
~ bank.
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
$61,825,000.00
29,825,000.00
28,000,000 .00
4,000,000.00
$61,825,000.00
BOND SUMMARY MESSAGES
Data contained within this section excluded Mutual Funds, Exchange Traded Funds, and Closed-Ended Funds. 22 24752
00- -M -UC-UU -182-04
0220657-00-04007-04
June 1, 2025 to June 30, 2025
Market Value
2,286,997 .50
$61,891,480.25
29,586,190.25
28,254 ,740.00
4,050,550.00
$61,891,480.25
Percentage of
Catego!}'
3.69 100.00
47.80 45.65
6.55 100.00
•
CITY OF LAGUNA NIGUEL
PUBLIC AGENCY
RETIREMENT SERVICES
PARS Post-Employment 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 - Ind ex
Investment Objective
Source
Balance as of
6/1/2025
$2,350 ,746 80
$2,350,746 .80
Contnbut1ons
$000
$0 ,00
Earnings
$69,527 45
569,527.45
Expenses
$1.133 44
$1,133 44
Account Report for the Period
6/1/2025 to 6/30/2025
Distributions Transfers
$000 $000
S0.00 so 00
Balance as of
6/30/2025
$2,419,140 81
$2.419,140 .81
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, althbugh growth through capital appreciation is equally important The portfolio will be allocated between equity and fixed income investments Investment Return
AnnuaHzcd Return
Source 1-Month 3-Months 1-Year 3-Ycars S-Ye~ 10-Years Plan's Inception Date PENSION 2 96% 5 91% 1163% 8 57% 5 26% 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 mt1y 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 period other than one year multiplied or divided to give a comparable one-year return Account balances are fndU!.WC of Trust Administration T rus1ee and Investment ~ fees Headquarters - 4350 Von Karman Ave ~ Suite 100, Newport Beach, CA 92660 800 540 6369 Fax 9492501250 www pars org 23