To:
FROM:
DATE:
SUBJECT:
CITY OF LAGUNA NIGUEL
CITY COUNCIL AGENDA ITEM
Honorable Mayor and Council Members
Tamara S. Letourneau, City Manager
September 16, 2025
Investment Report as of July 31, 2025
RECOMMENDATION
Staff recommends that the City Council receive and file the City of Laguna Niguel Investment Report as of July 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
There have not been any Federal Open Market Committee (FOMC) meetings since July, but the Federal Reserve Chairman, Jerome Powell, did hold the annual press conference in August. At that press conference, the chairman did address potential future rate cuts by stating the current policy was in "restrictive territory" and "the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance". Since those remarks, the CME Fed Watch tool are now predicting a 100% chance of a rate cut at the September 17th meeting, with a nearly 10% chance of a 50-basis point cut. The tool is also projecting a 66% chance the Fed Funds rate will be 3.50-3.75% at December 31, 2025, representing 75 basis points in cuts over the next three meetings.
Page2
MEETING INFORMATION
MEETING DATE
17Sep2025
COHmACT
zous 30Sep2O25
IW>PRK:E PRJOA!tOI.UNli PtaOR:Ot t:A.K NOOUUiGE l41Mli
95 7818 100,839 351.078 100.0% 00'1, 00%
Target Rate Probabilities for 17 Sep 2025 Fed Meeting
so•
6OM
""'
20•
o•
TARGET RATE {BP 5)
375-'100
400,...425
42>450 (Currenl)
-
375-400
•ow·
Current target rate is 425-450
'"' 901%
""
Targe( Rate (In bps)
1 DAY
9SEP2025
70%
930"
o"'
PROBABJU~)
90. 1"
I WEEK
, ... ,.,.
"" ,..,.
34%
'""""' IAUGlOl5
00%
.. ,,.
111%
The City's portfolio continues to be in a great position. $37.5 million is locked into high yielding investments with a maturity at least 24 months away, and several lower yielding securities will be or have recently matured. Those monies will be immediately reinvested into much higher yielding securities, providing significant boost to the portfolio's average yield. And, to the extent possible, the City will invest in longer-term high yielding securities, so City investments will continue to receive strong yield even if the Fed Funds rate continues to fall as projected.
The following table compares the portfolio balance as of July 2025 to June 2025.
Portfolio Bala.nee June 2025 July 2025 Difference
Balance $66,434,746 $65,229,750 ($1,204,996)
• Over the past month, the City's total cash and investments experienced a net decrease of $1,204,996. This decrease was expected this month as the City receives little 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) increased to 0.17%, primarily due to the reduction in size of the overall portfolio.
• The average weighted maturity of City investments, including investment pools and money market funds, decreased to 1,245 days. The average weighted maturity of City investmen'ts, including investment pools and money market, is
6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
Page3
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 4.269% to 4.258%. This represents the eleventh 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 4.170%. The Fed Funds rate and the LAIF/PMIA rate are nearly even, and on a downward trend.
Average Monthly Yield Comparison - 07/2020 through 07/2025 - PMIA
--s&P
- - - • Fed Funds
July Yields
0 0 .- .- .- .- N N N <') <') <') <') "7 "7 "7 "7 LO LO LO
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
PMIA 4.258%
S&P GIP 4.470%
I:::! a I:::! N N N I:::! I:::! I:::! ~ I:::! ~
N I:::! ~ S:::! a £:! I:::! ~ .... .- ~ j::: 0 .- "7 .... "7 0 .- "7 .... .... "7 F&d Funds 4.310%
.... .- ....
• The average weighted yield of City investments, including investment pools and money market funds, increased from 3.267% to 3.336%. The increase is due to two lower earning investments maturing in the month of July. The matured funds were immediately invested in the money market funds, boosting the portfolio's overall 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
3.336% 3.960% 4.100% 4.310% 4.258%
The monthly Investment Report as of July 31, 2025, is attached.
ALTERNATIVES CONSIDERED
The City Council can choose not to receive and file the City of Laguna Niguel Investment Report as of July 31, 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 July 31, 2025
ATTACHMENT A
Investment Report as of July 31, 2025
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
as of
July 31, 2025
Tamara S. Letourneau
CITY MANAGER
Trevor Agrelius
FINANCE DIRECTOR
September 16, 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 July 31, 2025, the City was in compliance with the Investment Policy adopted at the June 3, 2025, 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.
Tamara S. Letourneau
City Manager
Trevor Agrelius
Finance Director
City of Laguna Niguel
Summary of Cash and Investments
7/31/2025
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 2,500.00 0.00% N/A s 2,500 ,00 US Bank Checking & Investment Accounts 3,912% 2,495,653 .76 3.83% N/A 2,495,653.76 US Bank Money Market 4.170% 2,283,217.81 3.50% 10.00% 2,283,217 .81 Local Agency Investment Fund 4.258% 108,981.11 0.17% >$40 million or 55% 108,981.11 US Treasury Note: 42.94% N/A
912810EV6 6/22/2023 8/15/2025 6875% 4.311% 2,104,000 ,00 2,002,000.00 195,074.52 912820K8 11/30/2023 11/15/2026 4.625% 4.310% 1,008,640 .00 1,006,450 ,00 128,749 .72 912820AO 11/10/2023 9/30/2028 4.625% 4.500% 1,005,380 .00 1,021,560.00 221,376.41 912820N2 12/8/2023 11/30/2028 4.375% 4.020% 2,031,720.00 2,029,220.00 407,033.11 91282CHD6 4/12/2024 3/31/2029 4.250% 4.500% 1,475,175 .00 1,510,845 .00 329,913.80 91282CFJ5 10/24/2024 8/31/2029 3.125% 4.000% 961,730.00 970,270 .00 186,760 ,06 91282CLN9 11/6/2024 9/30/2029 3.500% 4.310% 970,990 .00 983,670.00 205,120.71 91282CMA6 12/20/2024 11/30/2029 4.125% 4.330% 990,940.00 1,007,580.00 212,304 .96 91282CMDO 1/13/2025 12/31/2029 4.375% 4~470% 995,790.00 1,017,540 .00 221,095.66 91282CGZ8 5/13/2025 4/30/2030 3,500% 4000% 1,466,505.00 1,470,885 .00 291,372.45 91282CMC2 4/24/2025 12/31/2031 4.500% 4.075% 1,024,620 .00 1,022,460 .00 279,346.50 91282CFV8 4/11/2025 11/15/2032 4.125% 4.126% 1,999,870 .00 1,995,540 ,00 627,306.89 912820Jl 1/7/2025 11/15/2033 4.500% 4.530% 1,496,655.00 1,526,595 ,00 600,713 .03 91282CKQ3 1/13/2025 5/15/2034 4.375% 4,660% 978,560 00 1,006,060.00 425,899 .88 91282CLF6 10/9/2024 8/15/2034 3,875% 4.079% 1,955,400.00 1,934,840.00 786,025.96 91282CLW9 12/20/2024 11/30/2034 4,250% 4.349% 3,968,200 .00 3,975,000 .00 1,717,119.88 91282CMM0 3/25/2025 2/15/2035 4.625% 4 275% 3,083,550 .00 3,065,160.00 1,305,216 .03 91282CNC1 5/15/2025 5/15/2035 4.125% 4,375% 495,000.00 495,625 ,00 216,681.16 Certificates of Deposit: 6.13% 30%
02589AF64 11/1/2023 11/1/2028 5.000% 5,000% 250,000 ,00 257,485 00 62,568.49 062119CD2 7/28/2023 7/28/2028 4.500% 4,500% 250,000.00 253,580 00 56,311.64 05580AY24 7/18/2023 4/14/2028 4.400% 4.408% 249,875 ,00 252,587 so 52,266.02 15118RM38 12/8/2023 12/8/2027 4.600% 4.600% 250,000 .00 253,542.50 46,031.51 15140RCY3 7/25/2023 7/26/2027 4.700% 4.700% 250,000 ,00 253,450 .00 47,064.38 20033A4J2 7/26/2023 7/26/2028 4.450% 4.450% 250,000.00 253,225 .00 55,685 .96 2546733V6 7/18/2023 4/17/2028 4.400% 4.408% 249,875.00 252,675.00 52,356 55 32110YK46 12/28/2023 12/28/2028 4.300% 4.300% 250,000 .00 252,417 .50 53,808 90 33610RVD2 12/12/2023 12/10/2027 4.550% 4.550% 250,000.00 253,262.50 45,468 84 58404D1X9 12/22/2023 12/22/2028 4.300% 4.300% 250,000 .00 252,407.50 53,808 90 795451DH3 12/13/2023 12/13/2028 4,400% 4.400% 250,000 .00 253,087 so 55,060 .27 848608FB6 1/31/2024 1/31/2029 3.950% 3.950% 250,000 .00 249,642.50 49,429.11 8562834C7 7/31/2023 8/2/2027 4,600% 4.600% 250,000 .00 253,132.50 46,094 52 87165E3V7 11/3/2023 11/3/2028 5,0()()% 5.000% 250,000.00 257,495 00 62,568.49 89235MPR6 6/28/2024 6/28/2029 4.500% 4.500% 250,000 ,00 254,400.00 56,280.82 903572GQ2 2/14/2024 2/14/2029 3.950% 3 950% 250,000 .00 249,607.50 49,429 .11 Federal National Mortgage Association: 13,25% 25.00%
3135G05X7 1/29/2021 8/25/2025 0,375% 0,519% 8,645,922 .29 8,676,510 .00 205,183.37 Federal Farm Credit Banks: 16.88% 25.00%
3133EPYW9 10/20/2023 10/20/2025 5.125 % 5.178% 999,000 .00 1,001,370 ,00 103,598.16 3133ENVD9 4/26/2022 4/26/2027 2,875% 2.900% 3,995,360 ,00 3,918,440 ,00 579,644 .64 3133EPH81 12/8/2023 10/4/2027 4.500 % 4,150% 2,024,580.00 2,018,320.00 321,347.99 3133EPW84 1/30/2024 1/18/2029 3,875% 3,930% 2,493,800.00 2,486,375 .00 487,370.28 3133EP3B9 2/26/2024 2/13/2029 4.125% 4,200% 1,494,975 ,00 1,503,585 .00 312,052.48 Federal Hen,~ Loin Banks: 13.30% 25.00%
3130AMF56 8/12/2021 6/12/2026 0.750% 0.735% 2,001,415,36 1,942,280 .00 71,133,87 3130A8XY4 10/18/2021 9/11/2026 1875% 1100% 4,665,690 ,00 4,388,985 .00 251,551 ,00 3130AWC24 6/23/2023 6/9/2028 4,000% 3.930% 2,006,180.00 2,006,300 .00 391,622.28
43.43% 60,00%
Total City Investments Including Investment Pools 65,229,750.33 100.00% 64,925,815 .18 s 1~24,848.32 Restricted for Specific Use
PARS 115 Pension Trust s 2,000,000 00 20.00% 2,428,099 .28 Average weighted maturity of Investments, excluding Investment Pools: 1,345 days Average weighted maturity of Investments, including Investment Pools and Money Market : 1,245 days Average weighted yield of Investments, excluding Investment Pools: 3.279% Average weighted yield of Investments, including Investment Pools and Money Market: 3.336% • Mark.et value of City investments is provided by US Bank 2 9/10/25, 9:23 AM LAIF Regular Monthly Statement
California State Treasurer
Fiona Ma, CPA
Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-000 I
(9 I 6) 653-300 I
CITY OF LAGUNA NIGUEL
TREASURER
30111 CROWN VALLEY PARKWAY
LAGUNA NIGUEL, CA 92677
Account Number: 98-30-408
July 2025 Statement
Effective Transaction iran Confirm
Date Date ype Number
7/15/2025 7/14/2025 QRD 1779926
Account Summary:
Web
Confirm
Number
NIA
September 10, 2025
LAIF Home
PMTA Average MonthlY.
Yields
Tran TY.P.e Definition.
Authorized Caller
SYSTEM
Total Deposit:
Total Withdrawal:
l, 181.06 Beginning Balance:
0.00 Ending Balance:
3 https:tnaifms.treasurer.ca .gov/RegularStatement.aspx Amount
1,181.06
107,800.05
108,981.l 1
1/1
PMIA/LAIF Performance Report
as of 09/04/25
Quarterly Performance
Quarter Ended 6/30/25
PMIA Average Monthly
Effective Yieldsl11
LAIF Apportionment Rate'
2 l:
LAIF Earnings Ratio<2l:
LAIF Administrative Cost<1i•:
LAIF Fair Value Factor(
1 l:
PMIA Daily'
1 l:
PMIA Quarter to Date'1l:
PMIA Average Life'
1 l:
4.40 0.00012059828906715
0.18 1.001198310
4.26 4.27
248
August
July
June
May
April
March
Pooled Money Investment Account
Monthly Portfolio Composition 111
7/31/25
Time
Deposits
3.09%
Certificates of
Deposit/Bank Notes
9.47%
$171.6 billion
Corporate
Bonds
0.58%
4.251
4.258
4.269
4.272
4.281
4.313
Treasuries
51.92%
Agencies
28.21%
Chart does not include $1,037,0QO _QQ 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 apportionment rote includes interest earned an the Ca/PERS Supplemental Pension Payment pursuant to Government Cade 20825 (c)(l} .
*The percentage of administrative cast equals the total administrative cost divided by the quarterly interest earnings. The law provides that administrative casts are not ta exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rate an the last day of the fiscal year is below 1%, then administrative casts 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
4 ~~m~ \~VES7,i,~_,.,,_ State of California
~ ' ?.
Pooled Money Investment Account § 1j ~ - g
g ~ - ~ Market Valuation 0,- ...,
~ ~ ~ .. ~
7/31/2025 ·Ltou101'fl •
Carrying Cost Plus
Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury:
Bills $ 44,583,941,320 .10 $ 45,014,870,200.00 NA
Notes $ 44,519,287,409 .75 $ 44,543,262,600.00 $ 491,655,551 .50 Federal AQencv:
SBA $ 239,426,186 .08 $ 236,699,790 .34 $ 956,234.43
MBS-REMICs $ 1,036,900.74 $ 1,042,782.04 $ 4,523.39
Debentures $ 6,175,715,936 .02 $ 6,172,380,025.00 $ 62,214,547.00 Debentures FR $ - $ - $ -
Debentures CL $ 3,250,000,000 .00 $ 3,252,188,100.00 $ 37,220,203.50 Discount Notes $ 35,061,409,999.93 $ 35,367,924,300.00 NA Supranational Debentures $ 3,686,739,182.98 $ 3,684,826,260.00 $ 43,195,727.30 Supranational Debentures FR $ - $ - $ -
CDs and YCDs FR $ - $ - $ -
Bank Notes $ 100,000,000.00 $ 99,906,994.46 $ 269,500.00 CDs and YCDs $ 16,150,000,000.00 $ 16,144,348,637 .10 $ 193,334,111 .18 Commercial Paper $ 11,284,019,097 .24 $ 11,402,250 ,541 .68 NA Corporate:
Bonds FR $ - $ - $ -
Bonds $ 1,002,797,187 .28 $ 1,001.454,509.00 $ 9,713,1 06.99 Repurchase Agreements $ - $ - $ -
Reverse Repurchase $ - $ - $ -
Time Deposits $ 5,297,000,000 .00 $ 5,297,000,000.00 NA PMIA & GF Loans $ 262,742,740 .00 $ 262,742 ,740.00 NA
TOTAL $ 171,614,115,960 .12 $ 172,480,897,479.62 $ 838,563,505.29 Fair Value Including Accrued Interest $ 173,319,460,984 .91 Repurchase Agreements, Time Deposits, PMIA & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 5 C!Dbank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Beginning Market Value
Taxable Interest
Paid To/For Beneficiaries
Change in Investment Value
Ending Market Value
MARKET VALUE SUMMARY
Current Period
07/01/25 to 07/31/25
$63,472,101.90 $70,000,000
77,596.16 $60,000,000
-1,000,000.00 $50,000, 000
-231,017.75
$62,318,680.31
$40,000,000
$30,000,000
$20,000,000
$10,000,000
Change: -1,153,421.59
21385
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July 1, 2025 to July 31, 2025
ii
$0'-- -'----~----'----------.-----
6 Beginning
MV
$63,472,101.90
Ending
MV
$62,318,680.31
[!Libank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER : 6736304200
Assets
Cash & Equivalents
Taxable Bonds
Total Market Value
Current Period % of
Market Value Total
2,283,217.81 3.70
60,035,462.50 96.30
$62,318,680.31 100.00
ASSET SUMMARY
Estimated
Annual Income
95,151.37
2,035,375 .00
$2,130,526.37
7 Taxable Bonds ___ _
$60,035,462.50
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~~
m
July 1, 2025 to July 31, 2025
~----Cash & Equiv
- $2,283,217 .81
Fixed Income Summary
_____ Corporate Issues
$4,051,997.50
US Government Issues ____ -=---~
$55,983,465.00
[!Bbank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Taxable Interest
Total Current Period Income
INCOME SUMMARY
Income Received
Current Period
77,596.16
$77,596.16
8 21385
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July 1, 2025 to July 31, 2025
[!ljbank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Beginning Cash 07/01/2025
Taxable Interest
Paid To/For Beneficiaries
Sales
Net Money Market Activity
Ending Cash 07/31/2025
CASH SUMMARY
Cash
$0.00
77,596.16
-1 ,000,000.00
1,625,000.00
-702,596.16
$0.00
9 21385
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~
July 1, 2025 to July 31, 2025
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CITY OF LAGUNA NIGUEL Page 5 of 15
ACCOUNT NUMBER: 6736304200 July 1, 2025 to July 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
2,283,217.810 1.0000 2,283,217.81 2,283,217.81 0.00 3.7 95,151.37 4.17 Total Cash/Money Market $2,283,217.81 $2,283,217.81 $0.00 3.7 $95,151.37 Total Cash & Equivalents $2,283,217.81 $2,283,217.81 $0.00 3.7 $95,151.37 Taxable Bonds
US Government Issues
FNMA - 3135G05X7
0.375 08/25/2025
8,700,000.000 99.7300 8,676,510.00 8,645,922.29 30,587.71 13.9 32,625.00 0.38 Federal Farm Credit Bks - 3133ENVD9
2.875 04/26/2027
4,000,000.000 97.9610 3,918,440.00 3,995,360.00 -76,920.00 6.3 115,000.00 2.93 Federal Farm Credit Bks - 3133EPW84
3.875 01/18/2029
2,500,000.000 99.4550 2,486,375.00 2,493,800.00 -7,425.00 4.0 96,875.00 3.90 Federal Farm Credit Bks - 3133EP3B9
4.125 02/13/2029
1,500,000.000 100.2390 1,503,585.00 1,494,975.00 8,610.00 2.4 61,875.00 4.11 Federal Farm Credit Bks - 3133EPH81
4.500 10/04/2027
2,000,000.000 100.9160 2,018,320.00 2,024,580.00 -6,260.00 3.2 90,000.00 4.46 10 21385
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CITY OF LAGUNA NIGUEL Page 6 of 15
ACCOUNT NUMBER: 6736304200 July 1, 2025 to July 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
1,000,000.000 100.1370 1,001 ,370.00 999,000.00 2,370.00 1.6 51,250.00 5.12 Federal Home Loan Bks - 3130AMFS6
0.750 06/12/2026
2,000,000.000 97.1140 1,942,280.00 2,001,415.36 -59, 135.36 3.1 15,000.00 0.77 Federal Home Loan Bks - 3130A8XY4
1.875 09/11/2026
4,500,000.000 97.5330 4,388,985.00 4,665,690.00 -276,705.00 7.0 84,375.00 1.92 Federal Home Loan Bks - 3130AWC24
4.000 06/09/2028
2,000,000.000 100.3150 2,006,300.00 2,006,180.00 120.00 3.2 80,000.00 3.99 US Treasury Bond - 912810EV6
6.875 08/15/2025
2,000,000.000 100.1000 2,002,000.00 2,104,000.00 -102,000.00 3.2 137,500.00 6.87 US Treasury Note - 91282CMMO
02/15/2035
3,000,000.000 102.1720 3,065,160.00 3,083,550.00 -18,390.00 4.9 138,750.00 4.53 US Treasury Note - 91282CFJ5
3.125 08/31/2029
1,000,000.000 97.0270 970,270.00 961,730.00 8,540.00 1.6 31,250.00 3.22 US Treasury Note - 91282CGZ8
3.500 04/30/2030
1,500,000.000 98.0590 1,470,885.00 1,466,505.00 4,380.00 2.4 52,500.00 3.57 US Treasury Note - 91282CLN9
3.500 09/30/2029
1,000,000.000 98.3670 983,670.00 970,990.00 12,680.00 1.6 35,000.00 3.56 U S Treasury Note - 91282CLF6
3.875 08/15/2034
2,000,000.000 96.7420 1,934,840.00 1,955,400.00 -20,560.00 3.1 77,500.00 4.00 11 21385
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CITY OF LAGUNA NIGUEL Page 7 of 15
ACCOUNT NUMBER: 6736304200 July 1, 2025 to July 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 - 91282CKG5
4.125 03/31/2029
1,500,000.000 100.7230 1,510,845.00 1,475,175.00 35,670.00 2.4 61,875.00 4.09 U S Treasury Note - 91282CFV8
4.125 11/15/2032
2,000,000.000 99.7770 1,995,540.00 1,999,870.00 -4,330.00 3.2 82,500.00 4.13 U S Treasury Note - 91282CMA6
4.125 11/30/2029
1,000,000.000 100.7580 1,007,580.00 990,940.00 16,640.00 1.6 41,250.00 4.09 US Treasury Note - 91282CNC1
4.250 05/15/2035
500,000.000 99.1250 495,625.00 495,000.00 625.00 0.8 21,250.00 4.29 US Treasury Note - 91282CLW9
4.250 11/15/2034
4,000,000.000 99.3750 3,975,000.00 3,968,200.00 6,800.00 6.4 170,000.00 4.28 US Treasury Note - 91282CKQ3
4.375 05/15/2034
1,000,000.000 100.6060 1,006,060.00 978,560.00 27,500.00 1.6 43,750.00 4.35 US Treasury Note - 91282CJN2
4.375 11/30/2028
2,000,000.000 101.4610 2,029,220.00 2,031,720.00 -2,500.00 3.3 87,500.00 4.31 US Treasury Note - 91282CMDO
4.375 12/31/2029
1,000,000.000 101.7540 1,017,540.00 995,790.00 21,750.00 1.6 43,750.00 4.30 US Treasury Note - 91282CJJ1
4.500 11/15/2033
1,500,000.000 101.7730 1,526,595.00 1,496,655.00 29,940.00 2.4 67,500.00 4.42 U S Treasury Note - 91282CMC2
4.500 12/31/2031
1,000,000.000 102.2460 1,022,460.00 1,024,620.00 -2,160.00 1.6 45,000.00 4.40 12 21385
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[!libank. B
CITY OF LAGUNA NIGUEL Page 8 of 15
ACCOUNT NUMBER: 6736304200 July 1, 2025 to July 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 - 91282CJA0
4.625 09/30/2028
1,000,000.000 102.1560 1,021,560.00 1,005,380.00 16,180.00 1.6 46,250.00 4.53 U S Treasury Note - 91282CJK8
4.625 11/15/2026
1,000,000.000 100.6450 1,006,450.00 1,008,640.00 -2,190.00 1.6 46,250.00 4.59 Total US Government Issues $55,983,465.00 $56,339,647.65 -$356, 182.65 89.8 $1,856,375.00 Corporate Issues
American Express Natl Bk - 02589AF64
CD
5.000 11/01/2028
250,000.000 102.9940 257,485.00 250,000.00 7,485.00 0.4 12,500.00 4.85 Bank Five Nine Oconomowoc Wis - 062119CD2
CD
4.500 07/28/2028
250,000.000 101.4320 253,580.00 250,000.00 3,580.00 0.4 11,250.00 4.44 Bmw Bk North Amer Salt Lake City - 05580A Y24
CD
4.400 04/14/2028
250,000.000 101.0350 252,587.50 249,875.00 2,712.50 0.4 11 ,000.00 4.35 Celtic Bk Salt Lake City Utah - 15118RM38
CD
4.600 12/08/2027
250,000.000 101.4170 253,542.50 250,000.00 3,542.50 0.4 11,500.00 4.54 Centier Bk Whitting Ind - 15140RCY3
CD
4.700 07/26/2027
250,000.000 101.3800 253,450.00 250,000.00 3,450.00 0.4 11,750.00 4.64 13 21385
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[!libank.
CITY OF LAGUNA NIGUEL Page 9 of 15
ACCOUNT NUMBER: 6736304200 July 1, 2025 to July 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 Comenity Cap Bk Draper - 20033A4J2
CD
4.450 07/26/2028
250,000.000 101.2900 253,225.00 250,000.00 3,225.00 0.4 11,125.00 4.39 Discover Bk Greenwood Del - 2546733V6
CD
4.400 04/17/2028
250,000.000 101.0700 252,675.00 249,875.00 2,800.00 0.4 11 ,000.00 4.35 First Natl Bk Amer East Lans - 3211 0YK46
CD
4.300 12/28/2028
250,000.000 100.9670 252,417.50 250,000.00 2,417.50 0.4 10,750.00 4.26 First Premier Bk Sioux Falls - 33610RVD2
CD
4.550 12/10/2027
250,000.000 101.3050 253,262.50 250,000.00 3,262.50 0.4 11,375.00 4.49 Medallion Bk Utah - 58404DTX9
CD
4.300 12/22/2028
250,000.000 100.9630 252,407.50 250,000.00 2,407.50 0.4 10,750.00 4.26 Sallie Mae Bk Salt Lake City - 795451 DH3
CD
4.400 12/13/2028
250,000.000 101.2350 253,087.50 250,000.00 3,087.50 0.4 11,000.00 4.35 Spiritbank Tulsa Okla - 848608FB6
CD
3.950 01/31/2029
250,000.000 99.8570 249,642.50 250,000.00 -357.50 0.4 9,875.00 3.96 State Bk India Chicago Ill - 8562834C7
CD
4.600 08/02/2027
250,000.000 101.2530 253,1 32.50 250,000.00 3,132.50 0.4 11,500.00 4.54 14 [!Ljbank .
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Security Description
Shares/Face Amt
Synchrony Bank CD - 87165E3V7
CD
5. 000 11/03/2028
250,000 .000
Toyota Finl Svgs Bk Hend Nv - 89235MPR6
CD
4.500 06/28/2029
250,000.000
Uinta Bk Min View - 903572GQ2
CD
3.950 02/14/2029
250,000.000
Total Corporate Issues
Total Taxable Bonds
Total Assets
Estimated Current Yield
ASSET DETAIL (continued )
Price Market Value Tax Cost
102.9980 257,495.00 250,000.00
101.7600 254,400.00 250,000.00
99.8430 249,607.50 250,000 .00
$4,051,997 .50 $3,999,750.00
$60,035,462.50 $60,339,397 .65
$62,318,680.31 $62,622,615.46
ASSET DETAIL MESSAGES
Time of trade execution and trading party (if not disclosed) will be provided upon request.
Unrealized
Gain/Loss
7,495.00
4,400.00
-392.50
$52,247.50
-$303,935.15
-$303,935.15
Percent
of Total
Portfolio
0.4 0.4
0.4 6.5
96.3 100.0
21385
00- -M -UC-UU -213-04
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Ii
July 1, 2025 to July 31, 2025
Estimated
Annual Income
12,500.00
11 ,250.00
9,875.00
$179,000.00
$2,035,375.00
$2,130,526.37
Estimated
Current Yield
4.85 4.42
3.96 3.41
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 wha~ ~our investments may earn in the future. [!libank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
TRANSACTION DETAIL
Date
Posted Activity
Beginning Balance 07/01/2025
07/01/25 Asset Income
07/08/25 Asset Income
07/10/25 Cash Disbursement
07/14/25 Sale
07/14/25 Asset Income
07/14/25 Asset Income
07/18/25 Asset Income
07/21/25 Asset Income
07/21/25 Sale
07/22/25 Asset Income
Descrip_tion
Interest Earned On
First Am Treas Ob Fd Cl Z
Interest From 6/1/25 To 6/30/25
Interest Earned On
Celtic Bk C D 4.600% 12/08/27
0.003781 USD/$1 Pv On 250,000 Par Value Due 7/8/25
Cash Disbursement
Paid To City Of Laguna Niguel
Deposit To Checking Acct
To Fund DOA 07/10/2025
Matured 1,000,000 Par Value Of
F H LB Deb 0.740% 7/14/25
Trade Date 7/14/25
1,000,000 Par Value At 100 %
Interest Earned On
F H LB Deb 0.740% 7/14/25
0.0037 USD/$1 Pv On 1,000,000 Par Value Due 7/14/25
Interest Earned On
Uinta Bk Mtn C D 3.950% 2/14/29
0.003247 USD/$1 Pv On 250,000 Par Value Due 7/14/25
Interest Earned On
FF CB Deb 3.875% 1/18/29
0.019375 USD/$1 Pv On 2,500,000 Par Value Due 7/18/25
Interest Earned On
F H L B Deb 0.720% 7/21/25
$0.00360/Pv On 625,000.00 Pv Due 7/21/25
Paid Down 625,000 Par Value Of
F H L B Deb 0.720% 7/21/25
Trade Date 7/21/25
Interest Earned On
Medallion Bk C D 4.300% 12/22/28
0.003534 USD/$1 Pv On 250,000 Par Value Due 7/22/25
16 Cash
$0.00
5,477.50
945.21
-1,000,000.00
1,000,000.00
3,700.00
811.64
48,437.50
2,250.00
625,000.00
883.56
21385
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0220657-00-04007-04
July 1, 2025 to July 31, 2025
Tax Cost
$63,545,019.30
-1,000,000.00
-625,000.00
[$3bank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
TRANSACTION DETAIL (continued)
Date
Posted Activity
07/25/25 Asset Income
07/28/25 Asset Income
07/28/25 Asset Income
07/28/25 Asset Income
07/31/25 Asset Income
07/31/25 Asset Income
Purchase
Sale
Ending Balance 07/31/2025
Description
Interest Earned On
Centier Bk CD 4.700% 7/26/27
0.023307 USD/$1 Pv On 250,000 Par Value Due 7/25/25
Interest Earned On
Comenity Cap Bk C D 4.450% 7/26/28
0.003658 USD/$1 Pv On 250,000 Par Value Due 7/26/25
Interest Earned On
Bank Five Nine C D 4.500% 7/28/28
0.003699 USD/$1 Pv On 250,000 Par Value Due 7/28/25
Interest Earned On
First Natl Bk CD 4.300% 12/28/28
0.003534 USD/$1 Pv On 250,000 Par Value Due 7/28/25
Interest Earned On
Spiritbank Tulsa CD 3.950% 1/31/29
0.003355 USD/$1 Pv On 250,000 Par Value Due 7/31/25
Interest Earned On
State Bk India C D 4.600% 8/02/27
0.022811 USD/$1 Pv On 250,000 Par Value Due 7/31/25
Combined Purchases For The Period 7/ 1/25 - 7/31/25 Of
First Am Treas Ob Fd Cl Z
Combined Sales For The Period 7/ 1/25 - 7/31/25 Of
First Am Treas Ob Fd Cl Z
17 Cash
5,826.71
914.38
924.66
883.56
838.70
5,702.74
-1,702,596 .16
1,000,000.00
$0.00
21385
00- -M -UC-UU -213-04
0220657-00-04007-04
~
.., .
~ ,:
-
July 1, 2025 to July 31, 2025
Tax Cost
1,702,596 .16
-1,000,000.00
$62,622,615.46
[!libank
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
Taxable Bonds
Federal Home Loan Bks
0. 720 07/21/2025
3130AJTX7
Federal Home Loan Bks
0.740 07/14/2025
3130AJTF6
Settlement
Date
07/21/25
07/14/25
Description
Paid Down 625,000
Par Value
Trade Date 7/21/25
Matured 1,000,000
Par Value
Trade Date 7/14/25
SALE/MATURITY SUMMARY
1,000,000 Par Value At 100 %
Total Taxable Bonds
Total Sales & Maturities
Estimated Year-To-Date Long-Term Gain (Loss): ($192,122.71) Estimates should not be used for tax purposes
SALE/MATURITY SUMMARY MESSAGES
18 Tax Cost
-625,000.00
-1,000,000.00
-$1,625,000.00
-$1,625,000.00
21385
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0220657-00-04007-04
July 1, 2025 to July 31, 2025
Proceeds
625,000 .00
1,000,000.00
$1,625,000.00
$1,625,000.00
Estimated
Gain/Loss
$0.00
$0.00
~ bank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
30%
24%
18%
I I
12% '
6% I
0% I
2025
MATURITY
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035 - 2039
Total of Category
MOODY'S RA TING
Aa1
N/A
BOND SUMMARY
I
n -7 ' 2026 2027 2028 2029 2030
19 1 t I I 1
2031 2032 2033
Par Value
11,700,000.00
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
$60,200,000.00
56,200,000.00
1,750,000.00
21385
00- -M -UC-UU -213-04
0220657-00-04007-04
=
. .
July 1, 2025 to July 31, 2025
~
2034 2035
-
2039
Percentage of
Market Value Category
11,679,880.00 19.46
7,337,715.00 12.23
6,950,147.50 11 .58
7,342,040.00 12.23
10,233,515.00 17.05
1,470,885.00 2.45
1,022,460.00 1.70
1,995,540.00 3.32
1,526,595.00 2.54
6,915,900 .00 11 .51
3,560,785.00 5.93
$60,035,462.50 100.00
55,983,465 .00 93.25
1,764,460.00 2.94
[Jljbank.
CITY OF LAGUNA NIGUEL
ACCOUNT NUMBER: 6736304200
NOT RATED
Total of Category
S&P RATING
AA+
NIA
NOT RATED
Total of Category
BOND SUMMARY (continued
Par Value
2,250,000.00
$60,200,000.00
28,200,000.00
28,000,000 .00
4,000,000.00
$60,200,000.00
BOND SUMMARY MESSAGES
Data contained within this section excluded Mutual Funds, Exchange Traded Funds, and Closed-Ended Funds. 20 Market Value
2,287,537.50
$60,035,462.50
27,942,165.00
28,041,300 .00
4,051,997 .50
$60,035,462.50
21 385
00- -M -UC-UU -213-04
0220657-00-04007-04
July 1, 2025 to July 31, 2025
Percentage of
Category
3.81 100.00
46.54 46.71
6.75 100.00
•
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
Tot als
Investment Selection
Source
PENSION Moderate - Inde x
Investment Objective
Source
Balance as of
7/1/2025
$2,419,140 81
S2.419 ,140 81
Contnbut1ons
$000
$0.00
Earnings
$10,122 04
S10,122 04
Expenses
$1,163 57
S1.163.57
Account Report for the Period
7/1/2025 to 7/31/2025
Distributions Transfers
$000 $000
S0 ,00 $0.00
Balance as of
7/31/2025
$2,428 ,099 28
S2,428,099 28
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 signific ant portion of total return, although growth through capital appreciation is equally important The portfolio will be allocated between equity and fixed incom e investments Investment Return
Annualtzcd Roturn
Source 1-Month 3-Months 1-Year J•Y.Cilf5 5-Yoll/'5 10-Ycars Plan's I ncept1on Date PENSION 042% 6 10% 899 % 7 43% 4 80% 5/26/20 20
Informat ion as provided by US Bank, frustee ror PARS, Not FDIC Insured , No Bank Guarantee May Lose Value Past perfor mance does not guara ntee future results Performance return s m<ly not reflect the deduction of applicab le fees, which could reduce returns Informati on 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-yea r return Account balances are lnc~ o f r rust Adminis lrat ion r rustee and Investment Atal'\l~n l fee,; Headqu11rters - 4350 Von Karman Ave Suite 100, Newport Beach, CA 92660 800 54 0 6369 Fax 949 250 1250 www pars org 21