To:
FROM:
DATE:
SUBJECT:
CITY OF LAGUNA NIGUEL
CITY COUNCIL AGENDA ITEM
Honorable Mayor and Council Members
Tamara S. Letourneau , City Manager •
January 20, 2026
Investment Report as of November 30, 2025
RECOMMENDATION
Staff recommends that the City Council receive and file the City of Laguna Niguel Investment Report as of November 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) held its last meeting of calendar year 2025 in December. The FOMC elected to reduce the federal funds rate by 25 basis points to a target range of 3.50%-3. 75%, marking the third rate reduction in 2025. The FOMC also released an updated dot plot, which shows where Committee members anticipate the federal funds rate to be at the end of the next year, two years, three years, and beyond.
As can be seen in the dot plot provided on the next page, Committee members anticipate the fed funds rate to continue to decrease gradually over the next several years, however the floor is projected beyond 2028 at 3.00%, signaling just two to three rate reductions between now and then.
F,g • fL'<,C,,,t;mt:!lt of pprop m n ry poli y: M1dpoinl of lnrg l nge or l
-------------------.-- -
- s
------------------------ 50
------------------------ 40 ...... -♦ .. .. • . ............ . ... •• . . 35 .... ... .. . . • .... ...... ...... • • - ------------------- - - - - - 30 . .. ... ... • • • . •• ••• . .. - 25 .
• ----------- -- 20
- 15
I 0
05 - 0.0
2025 2026 2027 2028 l or,gn run
As part of the new banking services contract, the City receives professional advice from the Wells Fargo fixed income investment team. In the month of November, the City carried out three strategic trades that extended the average weighted maturity, increased the yield of the portfolio, and disposed of low earning investments , all without losses to the portfolio.
As a result, the City's portfolio continues to be in a strong position and is earning a yield nearly in line with LAIF. The City's average portfolio yield is 4.06%, representing the highest yield since April 2008! Additionally , the weighted average maturity of the portfolio is 1,662 days, or over 4 ½years.While the LAIF yield has decreased in each of the past fifteen months, the City's portfolio has continued to increase the average yield. In fact, since September 2024, the LAIF rate has decreased from 4.579% to 4.096%, a decrease of 0.483%, while the City's portfolio has increased from 2.867% to 4.063%, an increase of 1.196%. The concerted investment strategy employed by City staff has locked in these high yields without sacrificing safety or liquidity. As of the date this staff report is being written, the City has over $10.0 million in fully liquid funds being held in money market securities. Furthermore , the City has a $0.8 million unrealized gain and every individual investment except one has an unrealized gain, so the City could sell additional securities if the need arises.
Additionally, the City's Section 115 Trust is over $2.5 million. Total returns represent over 25% of the original investment. City staff restructured the portfolio in January 2024, and since that time, the Trust has earned $0.5 million at an annualized 11.7% yield.
The following table compares the portfolio balance for the prior two months:
Portfolio Balance October2026 November 2025 Difference
600%
5.00%
4.00%
300%
200%
1.00%
0.00%
Balance $52,154,384 $53,379,729 $1,225,345
• Over the past month, the City's total cash and investments experienced a net increase of $1 ,225,345. In November, the City received a portion of the 2025- 2026 property tax allotment from the County, resulting in the increase noted.
The City will receive approximately $13.0 million in property taxes in the months of December and January.
• The percentage of pooled investments in the Local Agency Investment Fund (LAIF) remained at 0.21 %.
• The average weighted maturity of City investments , including investment pools and money market funds, increased to 1,662 days, or over 4 ½ years. 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 4.150% to 4.096% . This represents the fifteenth consecutive month the LAIF yield has decreased . The net yield for the money market funds in the City's safekeeping account decreased to
3.820%. The Fed Funds rate and the LAIF/PMIA rate are nearly even, and on a downward trend, based on the most recent graphic provided by the State Controller.
Average Monthly Yield Compar ison - 11/2020 through 11/2025 ------------ _..___ - PMIA
~ .. .....
---,Y ..,.-.r --S&P
.,Y .,.-- ---· Fed Funds
,.r/ ,_ ~
November Vie.Ids
0 - - - -
N N N N <') <') <') <') .,. .,. .,. .,. "' "' "' "'
PMIA 4.096%
N 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 S&P GIP 4.240% £:-! N N N £:-! N N N £:-! N N N £:-! N N N £:-! £:-! N N £:-! ;;;; u'i co - ;;;; i:i'i co - ;;;; u'i co - ;;;; u'i co - N u'i co -
Fed Funds 3.864°.4
- - - - -
• The average weighted yield of City investments, including investment pools and money market funds, increased from 3.702% to 4.063%! 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.
Page4
• 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
4.063% 3.710% 3.700% 3.790%
The monthly Investment Report as of November 30, 2025, is attached.
ALTERNATIVES CONSIDERED
LAIF
4.096%
The City Council can choose not to receive and file the City of Laguna Niguel Investment Report as of November 30, 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:
~
liv::::::--:----
Trevor Agrelius
Finance Director
A. Monthly Investment Report as of November 30, 2025
ATTACHMENT A
Investment Report as of November 30, 2025
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
as of
November 30, 2025
Tamara S. Letourneau
CITY MANAGER
Trevor Agrelius
FINANCE DIRECTOR
January 20, 2026
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
TABLE OF CONTENTS
Statement of Compliance/Non-Compliance
Report of Cash and Investments
LAIF Investment Reports
Wells Fargo Statement
PARS Statement
1 2
3-5
6-15
16 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 November 30, 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.
Trevor Agrelius
Finance Director
City of Laguna Niguel
Summary of cash and Investments
11/ 30/ 2025
Settlemen t Maturity Coupon Purchased Percent of Max Allowed Per Market Ant icipated total Description Date Date Rate Yield Cost Portf olio Investme nt Policy Value Interest earned Petty Cash/Change Drawers 2,500.00 0.00% N/A 2,500 .00
Checking & Investment Accounts 3.571% 3,621,754 .91 6.78% N/ A 3,621,754 .91 Safekeeping Money Market 3.820% 1,063,380 .07 1.99% 10.00% 1,063 ,380 .07 Local Agency Investment Fund 4.096% 110,171.60 0.21% >$40 million or 55% 110,171.60 US Treasury Note : 56.19% N/ A
91282CJKB 11/ 30/ 2023 11/ 15/ 2026 4.625% 4.310% 1,008,640 .00 1,009 ,132 .81 128,749 .72 91282CJAO 11/ 10/2023 9/ 30/ 2028 4.625% 4.500 % 1,005,380 .00 1,030 ,507 .Bl 221,376 .41 91282CJN2 12/ 8/ 2023 11/ 30/ 2028 4.375% 4.020% 2,031,720 .00 2,049 ,218 .76 407,033 .11 9!282CKG5 4/ 12/2024 3/ 31/ 2029 4.250% 4.500% 1,475 ,175 .00 1,528,066 .41 329,913 .80 91282CFJ5 10/ 24/ 2024 8/ 31/ 2029 3.125% 4.000% 961,730 .00 985,195 .31 186,760 .06 91282CLN9 11/ 6/ 2024 9/ 30/2029 3.500% 4.310% 970,990 .00 998,164 .06 205,120 .71 91282CMA6 12/ 20/ 2024 11/ 30/ 2029 4.125% 4.330% 990,940 .00 1,021 ,132 .81 212,304 .96 91282CMDO 1/ 13/ 2025 12/ 31/2029 4.375% 4.470% 995,790 .00 1,030 ,820.31 221,095 .66 9!282CGZB 5/13 / 2025 4/ 30/2030 3.500% 4.000% 1,466,505 .00 1,495 ,195 .32 291,372.45 91282CHW4 11/21/2025 8/31/2030 4.125% 3.619% 4,087,812 .50 4,090 ,312.48 706,859 .61 91282CMC2 4/24/2025 12/31/2031 4.500% 4.075% 1,024,620.00 1,042,500.00 279,346 .50 91282C FV8 4/11/2025 11/15/2032 4.125% 4.126% 1,999,870 .00 2,042,031.26 627,306 .89 91282CJJI 1/ 7/ 2025 11/ 15/ 2033 4.500% 4.530% 1,496,655 .00 1,565,449 .22 600,713 .03 91282CKQ3 1/ 13/ 2025 5/ 15/ 2034 4.375% 4.660% 978,560 .00 1,034,531.25 425,899 .88 9!282CLF6 10/ 9/ 2024 8/ 15/ 2034 3.875% 4.079% 1,955,400 .00 1,992,812.50 786,025 .96 91282CLW9 12/ 20/ 2024 11/ 30/ 2034 4.250% 4.349% 3,968,200.00 4,091,875.00 1,717,119.88 9!282CMMO 3/ 25/ 2025 2/ 15/ 2035 4.625% 4.275% 3,083 ,550.00 3,153,046 .89 1,305,216.03 91282CNCI 5/ 15/ 2025 5/ 15/ 2035 4.125% 4.375% 495,000 .00 510,585 .94 216,681.16 Cert ificates of Deposit: 7.49% 30%
15140RCY3 7/ 25/ 2023 7/2 6/ 2027 4.700% 4.700% 250,000 .00 253,764 .75 47,064.38 85628340 7/ 31/2023 8/2/ 2027 4.600% 4.600% 250,000 .00 253,408 .80 46,094.52 15118RM38 12/ 8/ 2023 12/8/ 2027 4.600% 4.600% 250,000 .00 254,288.95 46,031 .51 33610RVD2 12/ 12/ 2023 12/ 10/2027 4.550% 4.550% 250,000 .00 254,015 .10 45,468 .84 05580AY24 7/ 18/ 2023 4/ 14/ 2028 4.400% 4.408% 249,875 .00 253,747 .03 52,266.02 2546733V6 7/ 18/ 2023 4/ 17/ 2028 4.400 % 4.408% 249,875 .00 253,843 .78 52,356 .55 20033A4J2 7/ 26/2023 7/ 26/2028 4.450% 4.450% 250,000 .00 254,574 .85 55,685.96 062119CD2 7/ 28/2023 7/ 28/2028 4.500% 4.500 % 250,000 .00 254,900 .48 56,311 .64 02589AF64 11/ 1/ 2023 11/ 1/ 2028 5.000% 5.000% 250,000 .00 258,692 .45 62,568.49 87!65E3V7 11/ 3/ 2023 11/3/ 2028 5.000% 5.000% 250,000 .00 258,708 .25 62,568 .49 795451DH3 12/ 13/ 2023 12/ 13/ 2028 4.400% 4.400% 250,000 .00 254,650 .45 55,060 .27 584040T)(9 12/ 22/ 2023 12/ 22/ 2028 4.300% 4.300% 250,000 .00 254,078 .13 53,808.90 32110YK46 12/ 28/ 2023 12/ 28/ 2028 4.300% 4.300% 250,000 .00 254,088 .40 53,808.90 848608F86 1/ 31/ 2024 1/ 31/ 2029 3.950% 3.950% 250,000 .00 251,522 .88 49,429 .11 903572GQ2 2/ 14/ 2024 2/ 14/ 2029 3.950% 3.950% 250,000 .00 251,514 .05 49,429 .11 89235MPR6 6/ 28/2024 6/ 28/ 2029 4.500% 4.500% 250,000 .00 255,857 .33 56,280.82 Federal Farm Credit Banks: 11.27% 25.00%
3!33EPH81 12/ 8/ 2023 10/ 4/ 2027 4.500% 4.150% 2,024,580 .00 2,033,909 .90 321,347.99 3133EPW84 1/ 30/2024 1/ 18/ 2029 3.875% 3.930% 2,493,800.00 2,529,048.48 487,370 .28 3133EP389 2/ 26/ 2024 2/ 13/2029 4.125% 4.200% 1,494,975.00 1,526,681.97 312,052 .48 Federal National Mortgage Association: 8.50% 25.00%
31359MGK3 11/ 21/ 2025 11/ 15/ 2030 6.625% 3.649% 4,537,880 .00 4,539,176.56 825,667 .89 Federal Home Loan Banks: 7.56 % 25.00%
3130AWC24 6/ 23/ 2023 6/9/ 2028 4.000% 3.930% 2,006,180.00 2,025,017 .26 391,622 .28 3130AOFR6 11/21 / 2025 12/8/ 2028 4.000% 3.507% 2,028,220 .00 2,027,793 .10 216,896 .79
27.32% 60.00%
Total City Investments Including Investment Pools 53,379,729 .08 100.00% 54,221,667.67 $ 12,268,087 .06 Restricted for Specific Use
PARS US Pension Trust 2,000,000 .00 3.61% 20.00% 2,567,453 .92 Average we ighted matur ity of Investments , excluding Investment Pools: 1,826 days Average we ighted maturity of Investments , including Investment Pools and Money Market 1,662 days Average we ighted yield of Investments , eKcluding Investment Pools: 4.104% Average weighted yield of Investments , including Investment Pools and Money Market : 4.063% • Market value of City investments is provided by Wells Fargo Bank 2 118126, 3:09 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
November 2025 Statement
Account SummarY.
Total Deposit:
Total Withdrawal :
hltps:1/laifms.treasurer .ca.gov/RegularStatement.aspx
LAIF Regular Monthly Statement
January 08, 2026
LAIF Home
PMIA Average MonthlY
Yields
Tran TY.P-e Definition s
/,
0.00 Beginning Balance:
0.00 Ending Balance:
3 110,171.60
110,171.60
111
~'\ \~VEST41. State of California
~
~+,..
Pooled Money Investment Account ~ ' ' -?_
~ ~
~ - 0
g ~~ Market Valuation .,.. ..,
ol' c:,
""'..-)" ,~"
11/30/2025 >'-uou,01~ •
Carrying Cost Plus
Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury:
Bills $ 45,183,720,732.62 $ 45,609,432,350.00 NA
Notes $ 41 ,095,706,869.25 $ 41 ,354,921 ,600.00 $ 396,144,902.50 Federal Agency:
SBA $ 255,264,573.90 $ 252,462,964.97 $ 1,018,286.89
MBS-REMICs $ 935,786.98 $ 944,603.03 $ 4,082.29
Debentures $ 4,721,428,119.07 $ 4,742,533,960.00 $ 45,957,960.90 Debentures FR $ - $ - $ -
Debentures CL $ 3,000,000,000.00 $ 3,013,527,450.00 $ 24,420,889 .50 Discount Notes $ 27,1 52,084,958.38 $ 27,476,236,500.00 NA Supranational Debentures $ 3,934,265,622.61 $ 3,960,258,750.00 $ 40,705,572.20 Supranational Debentures FR $ - $ - $ -
CDs and YCDs FR $ - $ - $ -
Bank Notes $ 200,000,000.00 $ 199,990,535.23 $ 2,564,972.22 CDs and YCDs $ 15,350,000,000.00 $ 15,352,444,382.31 $ 162,476,319.43 Commercial Paper $ 8,552,890,333.25 $ 8,637,066,402.75 NA Corporate:
Bonds FR $ - $ - $ -
Bonds $ 951 ,349,238.87 $ 953,672,639.00 $ 8,282,803.19 Repurchase AQreements $ - $ - $ -
Reverse Repurchase $ - $ - $ -
Time Deposits $ 5,282,000,000.00 $ 5,282,000,000.00 NA
PMIA & GF Loans $ 262,742,740.00 $ 262,742,740.00 NA
TOTAL $ 155,942,388,974.93 $ 157,098,234,877.29 $ 681 ,575,789.12 Fair Value Including Accrued Interest $ 157,779,810,666.41 Repurchase Agreements , Time Deposits, PMIA & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 4 PMIA/LAIF Performance Report
as of 01/07 /25
Quarterly Performance
Quarter Ended 9/30/25
PMIA Average Monthly
Effective Yieldsl1l
LAIF Apportionment Rate(2l:
LAIF Earnings Ratio(21 :
LAIF Admin istrat ive CostI1I·:
LAIF Fair Value FactorI1I:
PMIA DailyI1I:
PMIA Quarter to DateI1I:
PMIA Average LifeI1I:
4.34 0.00011893333163814
0.26 1.001929581
4.19 4.24
254
December
November
October
September
August
July
Pooled Money Investment Account
Monthly Portfolio Composition (ll
11/30/25
Time
Deposits
3.39%
$155.9 billion
Corporate
Bonds
0.61%
Certific ates of
Deposit/ Bank Notes
9.97%
4.025
4.096
4.150
4.212
4.251
4.258
Treasuries
SS.33%
Agencies
25.05%
Chart does not include $936 ,000 .00 in mortgages, which equates to 0.001 %. Percentages may not total 100% due to rounding.
Daily rates are now available here. View PMIA Daily Rates Notes: The apportionmen t rate includes interest earned on the Ca/PERS Supplemental Pension Payment pursuant to Governmen t Code 20825 /c)/1).
'Th e percent age of administrative cost equals the total administrat ive cost divided by the quarterly interest earnings. The law provides that admi nistrative 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 fis cal year is below 1 %, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fun d for the subsequent fiscal year.
Source:
Il l Stat e of Californ ia, Office of the Treasurer
121 Stat e of California, Office of the Contro ller
5 ■
029441 1~1570 0014 2C027 UN#4156631 -00009107 74886-00 10 25292 12102125 P Wells Fargo Securities, LLC
Wells Fargo Bank, N.A.
Combined Account Summary
CITY OF LAGUNA NIGUEL
30111 CROWN VALLEY PARKWAY
Statement Period
11/01/2025 - 11/30/2025
Account Number
1BD83672
Total Account Value Summary - us Dollar (USDJ This summary does not reflect the --------------------------------------- value of unpriced securities.
Amount Last Amount This % Repurchase agreements are reflected Statement Period Statement Period Portfolio at par value.
Cash $ 27,088.70 $ 1,868.49 0%
Money Market Mutual Funds
Bonds
2,892,285.53 1,061,511.58 2%
48,945 ,284.75 49,423,861.09 98%
Stocks 0.00 0.00 0%
Total Account Value $ =s ~1,=s=s4~,=ss=s~.=9s~ $ so,487,241.16 100% Value Change Since Last Statement Period $ (1,377,417.82) Percent Decrease Since Last Statement Period
Value Last Year-End $
Percent Increase Since Last Vear-End
•••Includes amortized Par value of municipal leases and notes.
Total Income Summary uso
Interest
Dividends/Capital Gains
Money Market Mutual Funds Dividends
Other
Income Total
Total Interest Charged uso
Description
Debit Interest For November 2025
Total Interest Charged
$
$
This Period
233,769 .51 $
0.00 7,826.05
0.00 241 ,595.56 $
$
Total Money Market Mutual Funds Summary uso
Description
Opening Balance
Deposits and Other Additions
Distributions and Other Subtractions
Dividends Reinvested
Change in Value
Closing Balance
6 Brokerage
$
$
3%
N/A
N/A
Year-To-Date
481,476.86
0.00 14,115.10
0.00 495,591.96
This Period
0.00 0.00
Amount
2,892,285.53
2,258,989.72
(4,097,589.72)
7,826 .05
0.00 1,061 ,511 .58
■ Wells Fargo Securities, LLC
550 S Tryon St.
Charlotte, NC 28202
Wells Fargo Securities, LLC
333 MARKET ST
SAN FRANCISCO , CA 94105
USA
WILLIAMS/LEWIS
1-415-644-9026
029442 10415700014 2C027 UN • 41S66J1 -00009 107 74886-0010 25292 12/02/25 P Wells Fargo Securities, LLC
Account Statement
CITY OF LAGUNA NIGUEL
30111 CROWN VALLEY PARKWAY
Account Value Summary uso
Statement Period
11/01/2025 - 11/30/2025
Account Number
1 BD83672
This summary does not reflect the
value of unpriced securities.
Amount Last Amount This % Repurchase agreements are reflected Statement Period Statement Period Portfolio at par value.
Cash $
Money Market Mutual Funds
Bonds
Stocks
Total Account Value $
Value Change Since Last Statement Period
Percent Increase Since Last Statement Period
Value Last Year-End
Percent Increase Since Last Vear-End
Income Summary uso
Interest
Dividends/Capital Gains
Money Market Mutual Funds Dividends
Other
Income Total
Interest Charged uso
Description
Debit Interest For November 2025
Total Interest Charged
$
$
0.00 $ 0.00 0%
0.00 0.00 0%
0.00 0.00 0%
0.00 0.00 0%
0.00 $ 0.00 0%
$
$
This Period
0.00 $
0.00 0.00
0.00 0.00 $
$
0.00 N/A
N/A
N/A
Year-To-Date
0.00 0.00
0.00 0.00
0.00 This Period
0.00 0.00
Money Market Mutual Funds Summary uso
Description
Opening Balance
Deposits and Other Additions
Distributions and Other Subtractions
Dividends Reinvested
Change in Value
Closing Balance
7 Brokerage
$
$
Amount
0.00 0.00
0.00 0.00
0.00 0.00
Important Information
This statement is provided to customers of Wells Fargo Securities , LLC ("WFS"), or customers of affiliated broker-dealers whose accounts are introduced to and carried by WFS. Statements are provided monthly for accounts with transactions and/or security positions .
For WFS customers who choose to maintain a safekeep ing account at Wells Fargo Bank, NA ("Bank"), this statement is accompanied by a separate Bank safekeeping statement. The Bank safekeep ing statement , if applicable, contains a list of securities held in safekeeping by the Bank as of the statement date.
Pricing: Security and other asset prices shown on the statement are obtained from independent vendors or internal pricing models . While we believe the prices are reliable, we cannot guarantee their accuracy . The prices indicated herein are as of the stated valuation date, which may not be the date of this statement, and are subject to change without notice.
For exchange- listed securities, the price provided is the closing price at month end. For unlisted securities , it is the "bid" price at month end. The prices of CDs that mature in one year or less are shown at last price traded. The prices of CDs that mature in greater than one year and of other instruments that trade infrequently are estimated using similar securities for which prices are available. Prices on the statement may not necessarily be obtained when the asset is sold.
Brokered CD Pricing and Disclosure Statement: Like bonds , brokered CDs are subject to price fluctuation and the value of a CD, if sold prior to maturity , may be less than at the time of its purchase . Significant loss of principal could result. While WFS genera lly makes a market in CDs it underwrite s, the secondary market for CDs that it does not underwrite may be very limited . In those cases, WFS will use its best efforts to help investors find a buyer. The Wells Fargo Securities , LLC Certificate of Disclosure Statement can be found at
www.wellsfargo .com/assets/pdf/cib/regulatory/cd-disclosure .pdf.
SIPC: WFS is a member of the Securities Investor Protection Corporation ("SIPC"). In the event of insolvency or liquidation of WFS, securities held in safekeeping at WFS are covered by SIPC against the loss. but not investment risk, up to a maximum of $500,000 per customer, which includes a $250,000 limit on claims for cash held in the account. SIPC protection does not provide any protection whatsoever against investment risk, including the loss of principal on an investment. This coverage does not apply to securities held in safekeeping by the Bank. Additional information about SIPC, including a SIPC brochure , may be obtained by visiting www.sipc.org or by calling SIPC at 1-202-371-8300 .
FINRA BrokerCheck Program: WFS is a member of the Financial Industry Regulatory Authority (FINRA). Under its BrokerCheck program , FINRA provides certain information regarding the disciplinary history of broker/dealers and their associated persons. Information can be obtained from the FINRA BrokerCheck program hotline number (1-800-289-9999 ) or the FINRA website (www.finra.orql. A brochure describing the FINRA BrokerCheck program will be furnished upon written request.
Free Credit Balances: Any customer free credit balances may be used in the business of WFS subject to limitations imposed by Rule 15c3-3 under the Securities Exchange Act of 1934. On demand , a customer has the right to receive delivery of the following : any free credit balances to which he or she is entitled, any fully paid securities to which he or she is entitled , and any securities purchased on margin upon full payment of indebtedness to WFS.
Equity Order Routing: WFS customers may request additional order routing information with respect to SEC Rule 606 by contacting their WFS sales representative. There are two reports available to WFS customers under amended Rule 606: (i) the 606(b)(1) held on-demand customer report and (ii) the 606(b)(3) not held on-demand customer report in the six months prior to the request. These reports can be found at www.wellsfargo.com/cib/regulatory
Equity Extended Hours Trading: See important infonmation relating to equities trading before and after regular trading hours at:
www.wellsfargo.com/cib/regulatory
Equity Open Orders : Open orders will remain in effect until executed or canceled by you. Failure to cancel an open order may result in the transaction being executed for your account. WFS has no responsibility to cancel an open order at its own initiative.
Dividend Reinvestment: In any dividend reinvestment transaction , WFS acted as agent. Additional infonmation regarding transactions of this nature will be furnished to a customer upon written request.
Account Transfers : A fee will be charged to customers transferring their existing WFS account to another broker/dealer or any other financial institution.
Non-deposit investment products recommended, offered or sold by WFS, including mutual funds, are not federally insured or guaranteed by or obligations of the Federal Deposit Insurance Corporation ("FDIC"), the Federal Reserve System or any other agency; are not bank deposits ; are not obligations of, or endorsed or guaranteed in any way by any bank or WFS; and are subject to risk, including the possible loss of principal, that may cause the value of the investment and investment return to fluctuate.
When the investment is sold, the value may be higher or lower than the amount originally invested. WFS is a subsidiary of Wells Fargo & Company , is not a bank or thrift, and is separate from any other affiliated bank or thrift. WFS is a registered broker-dealer and member of FINRA. No affiliate of WFS is responsible for the securities sold by WFS.
Trade Confirmations: Investment purchases and sales are subject to the terms and conditions stated on the trade confinmation relating to that transaction . In the event of a conflict between the trade confirmation and this statement , the trade confirmation will govern.
Listed Options: Commissions and other charges related to the execution of listed option transactions have been included in confinmations of such transactions that have been previously furnished and are available upon request. Promptly advise your WFS sales representative of any material change in your investment objectives or financial situation.
Financial Statements : WFS financial statements are available upon request.
8
Customer Complaints and Reporting Discrepancies:
Customer complaints, statement reporting inaccuracies or discrepancies should be promptly reported in writing to:
Customer Service
550 S Tryon St
Floor: 06, MAC: D1086-063
Charlotte, NC 28202-4200
wfscustomerservice@wellsfargo .com
In the event your account is introduced to WFS by an affiliated broker dealer as indicated on page 1 of your statement , you should also send a copy of your written correspondence to that introducing broker-dealer at the address appearing on that page.
Customers may also report complaints , inaccuracies or discrepancies by calling 1-800-645-3751 option 5. To further protect their rights , including rights under the Securities Investor Protection Act, customers should also re-confirm in writing to the above address any oral communications with WFS relating to the inaccuracies or discrepancies .
Mutual Funds: An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency . The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.
Institutional Prime Funds: You could lose money by investing in the fund. Because the share price of the fund will fluctuate , when you sell your shares they may be worth more or less than what you originally paid for them. During times of market stress, the fund may impose a discretionary liquidity fee upon sale of your shares, if the fund's board detenmines the fee is in the fund's best interest. The Prime fund will impose a mandatory liquidity fee when you redeem fund shares, if daily net redemptions exceed 5% of net assets and no exception applies.
Muni Substitute Interest : With respect to transactions involving your purchase of a municipal security having interest that is exempt from federal and/or state income taxes , if you do not receive good delivery of such securities on settlement date (i.e., all requirements for transferring title from the seller to the buyer have occurred) , the interest that you accrue from the settlement date of the transaction until you receive good delivery may be considered by the Internal Revenue Service ("IRS") to be taxable ("substitute") interest. If you sell such securities before receiving good delivery, the IRS may consider all of the interest that you accrue to be taxable. You should consult with your tax advisors regarding the tax implication of any such fail to receive scenario .
Muni MSRB Disclosure : WFS is registered with the U.S. Securities and Exchange Commission ("SEC") and the Municipal Securities Rulemaking Board ("MSRB"). The website for the SEC is www.sec.gov and the website for the MSRB is www.msrb.org. There is a brochure available on the MSRB website that describes the protections provided by MSRB rules and how to file a complaint with the appropriate regulatory authority.
CITY OF LAGUNA NIGUEL
Account Number: 18D83672
Daily Account Activity
Your investment transactions during this statement period.
Settlement /
Transaction / Effective
Trade Date Date Activitl Securitl ID
Transaction Activity USO
11/20/25 11/21/25 Purchase 3130A0FR6
11/20/25 11/21 /25 Purchase 31359MGK3
11/20/25 11/21 /25 Purchase 91282CHW4
11/20/25 11/21 /25 Security Delivery 3130A0FR6
11/20/25 11/21 /25 Security Delivery 31359MGK3
11/20/25 11/21 /25 Security Delivery 91282CHW4
11/20/25 11/21 /25 Security Receipt 3130AMFS6
11/20/25 11/21 /25 Security Receipt 3130A8XY4
11/20/25 11/21 /25 Security Receipt 3133ENVD9
11/20/25 11/21 /25 Sold 3130AMFS6
11/20/25 11/21 /25 Sold 3130A8XY4
11/20/25 11/21 /25 Sold 3133ENVD9
029443 1041570 0014 2C027 UNi,4156631 00009107 74886 •0010 25292 12102/25 P Description
FEDERAL HOME LOAN BANK
FANNIE MAE
UNITED STATES TREASURY NOTE
FEDERAL HOME LOAN BANK
FANNIE MAE
UNITED STATES TREASURY NOTE
FEDERAL HOME LOAN BANK
FEDERAL HOME LOAN BANK
FEDERAL FARM CREDIT BANK
FEDERAL HOME LOAN BANK
FEDERAL HOME LOAN BANK
FEDERAL FARM CREDIT BANK
9 Brokerage
Par / Quantity Price
2,000,000.00 101.4110000
4,000,000.00 113.4470000
4,000,000.00 102.1953125
(2,000,000.00) 101.4110000
(4,000,000.00) 113.4470000
(4,000,000.00) 102.1953125
2,000,000.00 98.2850000
4,500,000.00 98.5000000
4,000,000.00 98.8780000
(2,000,000.00) 98.2850000
(4,500,000.00) 98.5000000
(4,000,000 .00) 98.8780000
Statement Ending: November 30, 2025
Principal Income Debit / Credit
Amount Amount Amount
(2,028,220.00) (36,222.22) (2,064,442.22)
(4,537,880.00) (4,416.67) (4,542,296.67)
(4,087,812.50) (37,375.69) (4,125,188.19)
2,028,220.00 36,222.22 2,064,442.22
4,537,880 .00 4,416.67 4,542,296.67
4,087,812.50 37,375 .69 4,125,188.19
(1 ,965,700.00) (6,625.00) (1 ,972,325.00)
(4,432,500.00) (16,406.25) (4,448,906.25)
(3,955,120.00) (7,986.11) (3,963,106.11)
1,965,700.00 6,625.00 1,972,325.00
4,432,500.00 16,406.25 4,448,906.25
3,955,120.00 7,986.11 3,963,106.11
■ Wells Fargo Bank, N.A.
550 S Tryon St.
Charlotte, NC 28202
Wells Fargo Bank, N.A.
333 MARKET ST
SAN FRANCISCO , CA 94105
USA
WILLIAMS/LEWIS
1-41 5-644-9026
029444 1041570 0014 2C027 UN#41566JI 00009107 74886 -0010 25292 12/02/25 P Wells Fargo Bank, N.A.
Account Statement
CITY OF LAGUNA NIGUEL
30111 CROWN VALLEY PARKWAY
Statement Period
11/01/2025 - 11/30/2025
Account Number
1 BD83672
Account Value Summary uso This summary does not reflect the -------------------------------------■ va l ue of unpriced securities. Amount Last Amount This % Repurchase agreements are reflected Statement Period Statement Period Portfolio at par value.
Cash $ 27,088.70 $ 1,868.49 0%
Money Market Mutual Funds 2,892,285.53 1,061,511.58 2%
Bonds 48,945,284.75 49,423,861.09 98%
Stocks 0.00 0.00 0%
Total Account Value $ 51,864,658.98 $ 50,487,241.16 100% Value Change Since Last Statement Period
Percent Decrease Since Last Statement Period
$ (1 ,377,417.82)
Value Last Year-End
Percent Increase Since Last Year-End
Income Summary uso
Interest
Dividends /Capital Gains
Money Market Mutual Funds Dividends
Other
Income Total
Interest Charged uso
Description
Debit Interest For November 2025
Total Interest Charged
$
$
$
This Period
233,769.51 $
0.00 7,826.05
0.00 241,595.56 $
$
Money Market Mutual Funds Summary uso
Description
Opening Balance
Deposits and Other Additions
Distributions and Other Subtractions
Dividends Reinvested
Change in Value
Closing Balance
10 $
$
I
Safekeeping
3%
N/A
N/A
Year-To-Date
481 ,476.86
0.00 14,115.10
0.00 495,591 .96
This Period
0.00 0.00
Amount
2,892,285.53
2,258,989.72
(4,097,589.72)
7,826.05
0.00 1,061,511.58
Important Information
This statement is provided to customers of Wells Fargo
Bank, N.A. (the "Bank"). Statements are provided
monthly for accounts with transactions and/or security
positions.
Pricing: Security and other asset prices shown on the
statement are obtained from independent vendors or
internal pricing models. While we believe the prices are reliable, we cannot guarantee their accuracy. The
prices indicated herein are as of the stated valuation
date, which may not be the date of this statement, and
are subject to change without notice. For
exchange-listed securities , the price provided is the
closing price of the relevant security at month end. For unlisted securities , it is the "bid" price of the relevant security at month end. The prices of instruments that
trade infrequently are estimated using similar securities for which prices are available. Prices on the statement may not necessarily be obtained when the asset is
sold.
Cash Balances: Cash held at the Bank is not covered
by SIPC, but is instead eligible for FDIC insurance of
up to $250,000 per depositor , per institution, in
accordance with FDIC rules.
Mutual Funds:An investment in the fund is not insured
or guaranteed by the Federal Deposit Insurance
Corporation or any other goverment agency. The
fund's sponsor has no legal obligation to provide
financial support to the fund, and you should not
expect that the sponsor will provide financial support
to the fund at any time.You have the right, in the
course of normal business operations, to withdraw
balances in the Bank Deposit Sweep or redeem
shares of the money market mutual fund used in the
sweep, subject to any open commitments in any of
your accounts and have the proceeds returned to
your accounts or remitted to you. Note, however, that
as required by federal banking regulations, the banks
in the Bank Deposit Sweep reserve the right to
require seven days prior notice before permitting a
transfer out of the Bank Deposit Sweep. In addition,
the money market mutual funds in the sweep reserve
the right to require one or more day's prior notice
before permitting withdrawals . The Bank makes
certain money market mutual funds available through
the Bank Deposit Sweep and has entered into
agreements with the mutual fund companies with
respect to the available funds. Mutual funds are sold
by prospectus only. Please read the prospectus for
further information including sales charges ,deferred
sales charges, withdrawal charges and management
or other fees.
Institutional Prime Funds: You could lose money by
investing in the fund. Because the share price of the
fund will fluctuate , when you sell your shares they
may be worth more or less than what you originally
paid for them. During times of market stress, the fund
may impose a discretionary liquidity fee upon sale of
your shares, if the fund's board determines the fee is
in the fund's best interest. The Prime fund will impose a mandatory liquidity fee when you redeem fund
shares, if daily net redemptions exceed 5% of the net
assets and no exception applies.
Muni Substitute Interest: With respect to transactions
involving your purchase of a municipal security having
interest that is exempt from federal and/or state
income taxes, if you do not receive good delivery of
such securities on settlement date (i.e., all
requirements for transferring title from the seller to the buyer have occurred), the interest that you accrue
from the settlement date of the transaction until you
receive good delivery may be considered by the
Internal Revenue Service ("IRS") to be taxable
("substitute ") interest. If you sell such securities
before receiving good delivery, the IRS may consider
all of the interest that you accrue to be taxable. You
should consult with your tax advisor regarding the tax
implication of any such fail to receive scenario .
Muni MSRB Disclosure: WFS is registered with the U.S.
Securities and Exchange Commission ("SEC") and
the Municipal Securities Rulemaking Board
("MSRB"). The website for the SEC is www.sec.gov
and the website for the MSRB is www.msrb.org.
There is a brochure available on the MSRB website
that describes the protections provided by MSRB
rules and how to file a complaint with the appropriate
regulatory authority.
11
Non-deposit investment products offered or sold by the
Bank, including investments in mutual funds available
through the Bank, are not federally insured or guaranteed by or obligations of the U.S. government, the Federal Deposit Insurance Corporation ("FDIC"), the Federal Reserve System or any other government agency; are not bank deposits; are not obligations of, or endorsed or guaranteed in any way by any bank or the Bank; and are subject to risk, including the possible loss of principal, that may cause the value of the investment and the investment return to fluctuate. When the investment is sold, the amount may be higher or lower than the amount originally invested.
Customer Complaints and Reporting Discrepancies: All
inquiries, statement reporting inaccuracies or
discrepancies , or complaints regarding your account
or the activity therein should be directed to:
Customer Service
550 S Tryon St
Floor:06, MAC: 01086-063
Charlotte.NC 28202-4200
1-800-645-3751 , option 5,
WFSCustomerService @Wei lsfargo .com.
To further protect their rights, customers should also
reconfirm in writing to the above address any oral
communications with the Bank relating to inaccuracies
or discrepancies.
The Bank's financial statements are available upon
request.
CITY OF LAGUNA NIGUEL Statement Ending: November 30, 2025 Account Number : 1 BD836 72
Portfolio Holdings Security positions held with Wells Fargo Bank N.A.
Current Par / Market Market Original Par
Security ID Description Maturity Date Coupon Original Par Price• Value Pledged .. Callable Bonds USO
91282CJK8 UNITED STATES TREASURY NOTE 11 /15/26 4.625% 1,000,000.000 100.9133 1,009,132.81 15140RCY3 CENTIER BANK INTEREST BEARING 07/26/27 4.700% 250,000.000 101 .5059 253,764.75 N
CERTIFICATE OF DEPOSIT
8562834C7 STATE BANK INDIA INTEREST 08/02/27 4.600% 250,000.000 101 .3635 253,408 .80 N
BEARING CERTIFICATE OF DEPOSIT
3133EPH81 FEDERAL FARM CREDIT BANK 10/04/27 4.500% 2,000 ,000.000 101 .6955 2,033,909.90 N 15118RM38 CELTIC BANK INTEREST BEARING 12/08/27 4.600% 250,000.000 101 .7156 254,288.95 N
CERTIFICATE OF DEPOSIT
33610RVD2 FIRST PREMIER BANK INTEREST 12/10/27 4.550% 250,000.000 101 .6060 254,015 .10 N
BEARING CERTIFICATE OF DEPOSIT
05580AY24 BMW BANK NORTH AMERICA 04/14/28 4.400% 250,000.000 101.4988 253,747.03 N
INTEREST BEARING CERTIFICATE
OF DEPOSIT
2546733V6 CAPITAL ONE NA INTEREST 04/17/28 4.400% 250,000 .000 101 .5375 253,843.78 N
BEARING CERTIFICATE OF DEPOSIT
3130AWC24 FEDERAL HOME LOAN BANK 06/09/28 4.000% 2,000,000.000 101 .2509 2,025 ,017.26 N 20033A4J2 COMENITY CAPITAL BANK INTEREST 07/26/2 8 4.450% 250,000 .000 101 .8299 254,574.85 N
BEARING CERTIFICATE OF DEPOSIT
062119CD2 BANK FIVE NINE INTEREST 07/28/28 4.500 % 250,000 .000 101 .9602 254,900.48 N
BEARING CERTIFICATE OF DEPOSIT
91282CJA0 UNITED STATES TREASURY NOTE 09/30/28 4.625% 1,000,000.000 103.0508 1,030,507.81 02589AF64 AMERICAN EXPR NATL BK INTEREST 11/01/28 5.000% 250,000 .000 103.4770 258,692.45 N
BEARING CERTIFICATE OF DEPOSIT
87165E3V7 SYNCHRONY BANK INTEREST 11 /03/28 5.000% 250,000.000 103.4833 258,708.25 N
BEARING CERTIFICATE OF DEPOSIT
91282CJN2 UNITED STATES TREASURY NOTE 11 /30/28 4.375% 2,000,000.000 102.4609 2,049,218 .76 3130A0FR6 FEDERAL HOME LOAN BANK 12/08/28 4.000% 2,000,000.000 101.3897 2,027,793.10 N 795451DH3 SALLIE MAE BANK/SALT LKE 12/13/28 4.400% 250,000.000 101 .8602 254,650.45 N
INTEREST BEARING CERTIFICATE
OF DEPOSIT
58404DTX9 MEDALLION BANK UTAH INTEREST 12/22/28 4.300% 250,000.000 101.6313 254,078.13 N
BEARING CERTIFICATE OF DEPOSIT
321 10YK46 FIRST NATL BK OF AMERICA 12/28/28 4.300% 250,000.000 101.6354 254,088.40 N
INTEREST BEARING CERTIFICATE
OF DEPOSIT
3133EPW84 FEDERAL FARM CREDIT BANK 01 /18/29 3.875% 2,500,000.000 101 .1619 2,529,048.48 N 12 02944 5 1041570 00 14 2C027 UNlt' 4 15663 1·00009107 74886 -0010 25292 12/02/25 P Safekeeping
CITY OF LAGUNA NIGUEL Statement Ending: November 30, 2025 Account Number : 1 BD83672
Portfolio Holdings (Continued) Security positions held with Wells Fargo Bank N.A.
Current Par / Market Market Original Par
Security ID Description Maturity Date Coupon Original Par Price* Value Pledged** Callable Bonds USO
848608FB6 SPIRITBANK NA INTEREST BEARING 01 /31 /29 3.950% 250,000.000 100.6092 251 ,522.88 N
CERTIFICATE OF DEPOSIT
3133EP3B9 FEDERAL FARM CREDIT BANK 02/13/29 4.125% 1,500,000.000 101 .7788 1,526,681 .97 N 903572GQ2 UINTA BANK INTEREST BEARING 02/14/29 3.950% 250,000.000 100.6056 251 ,514.05 N
CERT IFICATE OF DEPOSIT
91282CKG5 UNITED STATES TREASURY NOTE 03/31 /29 4.125% 1,500,000.000 101 .8711 1,528,066.41 89235MPR6 TOYOTA FINANCIAL SGS BK 06/28/29 4.500% 250,000.000 102.3429 255,857.33 N
INTEREST BEARING CERTIFICATE
OF DEPOSIT
91282CFJ5 UNITED STATES TREASURY NOTE 08/31 /29 3.125% 1,000,000.000 98.5195 985,195 .31 91282CLN9 UNITED STATES TREASURY NOTE 09/30/29 3.500% 1,000,000.000 99.8164 998,164.06 91282CMA6 UNITED STATES TREASURY NOTE 11 /30/29 4.125% 1,000,000.000 102.1133 1,021 ,132.81 91282CMD0 UNITED STATES TREASURY NOTE 12/31 /29 4.375% 1,000,000.000 103.0820 1,030,820.31 91282CGZ8 UNITED STATES TREASURY NOTE 04/30/30 3.500% 1,500,000.000 99.6797 1,495,195.32 91282CHW 4 UNITED STATES TREASURY NOTE 08/31 /30 4.125% 4,000,000.000 102.2578 4,090,312.48 31359MGK3 FANNIE MAE 11 /15/30 6.625% 4,000,000.000 113.4794 4,539,176.56 N 91282CMC2 UNITED STATES TREASURY NOTE 12/31/31 4.500% 1,000,000.000 104.2500 1,042,500.00 91282CFV8 UNITED STATES TREASURY NOTE 11 /15/32 4.125% 2,000,000.000 102.1016 2,042,031 .26 91282CJJ1 UNITED STATES TREASURY NOTE 11 /15/33 4.500 % 1,500,000.000 104.3633 1,565,449.22 91282CKQ3 UNITED STATES TREASURY NOTE 05/15/34 4.375% 1,000,000.000 103.4531 1,034,531 .25 91282CLF6 UNITED STATES TREASURY NOTE 08/15/34 3.875% 2,000,000.000 99.6406 1,992,812.50 91282CLW9 UNITED STATES TREASURY NOTE 11 /15/34 4.250% 4,000,000.000 102.2969 4,091 ,875.00 91282CMM0 UNITED STATES TREASURY NOTE 02/15/35 4.625% 3,000,000.000 105.1016 3,153,046.89 91282CNC1 UNITED STATES TREASURY NOTE 05/15/35 4.250% 500,000.000 102.1172 510,585.94 48,000,000.000 49,423 ,861 .09 0.00
*See important information regarding security pricing on Page 2. **Total amount that is pledged to or held for another party or parties . Refer to the Pledge Detail Report for more information. 13 CITY OF LAGUNA NIGUEL
Account Number : 1 8D836 72
Daily Account Activity
Your investment transactions during this statement period.
Settlement /
Transaction / Effective
Trade Date Date Activitl
Transaction Activity USO
11/20/25 11/21 /25 Security Delivery
11/20/25 11/21 /25 Security Delivery
11/20/25 11/21 /25 Security Delivery
11/20/25 11/21/25 Security Receipt
11/20/25 11/21 /25 Security Receipt
11/20/25 11/21 /25 Securitl Receipt
Income / Payment Activity USO
11/03/25 11/03/25 Interest
11 /03/25 11 /03/25 Interest
11/10/25 11/10/25 Interest
11/14/25 11/14/25 Interest
11/17/25 11/17/25 Interest
11/17/25 11/17/25 Interest
11 /17/25 11 /17/25 Interest
11/17/25 11/17/25 Interest
11/17/25 11/17/25 Interest
11/17/25 11/17/25 Interest
11/24/25 11/24/25 Interest
11/26/25 11 /26/25 Interest
11/28/25 11/28/25 Interest
11/28/25 11/28/25 Interest
Cash Activity USO
Transactio n /
Trade Date
11/06/25
11/10/25
11/14/25
Settlement /
Elf. Date Activit.i'..
11/06/25 ACH/DDA Transaction
11/10/25 ACH/DDA Transaction
11/14/25 ACH/DDA Transaction
Money Market Fund Activity
JPMorgan 100% UST C 3163
• As of November 30, 2025
USO
029446 1041s10 0014 2co2·, UN#41S66J1 -00009101 74886-0010 2s292 1vo212s P Securitl ID Description
3130AMFS6 FEDERAL HOME LOAN BANK
3130A8XY4 FEDERAL HOME LOAN BANK
3133ENVD9 FEDERAL FARM CRED IT BANK
3130A0FR6 FEDERAL HOME LOAN BANK
31359MGK3 FANNIE MAE
91282C HW4 UNITED STATES TREASURY NOTE
02589AF64 AMERICAN EXPR NATL BK INTEREST
87165E3V7 SYNCHRONY BANK INTEREST
15118RM38 GEL TIC BANK INTEREST BEARING
903572GQ2 UINTA BANK INTEREST BEARING
91282CFV8 UNITED STATES TREASURY NOTE
91282CJJ1 UNITED STATES TREASUR Y NOTE
91282CJK8 UNITED STATES TREASUR Y NOTE
91282CKQ3 UNITED STATES TREASUR Y NOTE
91282CLW9 UNITED STATES TREASURY NOTE
91282CNC 1 UNITED STATES TREASUR Y NOTE
58404DTX9 MEDALLION BANK UTAH INTEREST
20033A4J2 COMENITY CAPITAL BANK INTEREST
062119CD2 BANK FIVE NINE INTEREST
32110YK46 FIRST NATL BK OF AMERICA
Descrietion
DESIGNATED DDA
DESIGNATED DDA
DESIGNATED DDA
Dividend paid
this period
7,826.05
14 Par / Ouantitl
(2,000,000.00)
(4,500,000.00)
(4,000,000.00)
2,000,000.00
4,000,000.00
4,000,000.00
Price
98.2850000
98.5000000
98.8780000
101.4110000
113.4470000
102.1953125
7 day*
simple yield
3.820 %
Safekeeping
Statement Ending: November 30, 2025
Principal
Amount
1,965,700.00
4,432,500.00
3,955,120.00
(2,028,220.00)
(4,537,880.00)
(4,087,812.50)
30 day*
simple yield
3.840%
Income
Amount
6,625.00
16,406.25
7,986.11
(36,222.22)
(4,416.67)
(37,375.69)
6,301 .37
6,301 .37
976.71
838.70
41 ,250.00
33,750.00
23,125.00
21,875.00
85,000.00
10,625.00
913.01
944.86
955.48
913.01
Debit Amount /
Disbursements
2,700,000.00
1,050,000.00
Debit / Credit
Amount
1,972,325.00
4,448,906.25
3,963,106.11
(2,064,442.22)
(4,542,296.67)
(4,125,188.19)
6,301.37
6,301.37
976.71
838.70
41 ,250.00
33,750.00
23,125.00
21 ,875.00
85,000.00
10,625.00
913.01
944.86
955.48
913.01
Credit Amount /
Receiets
2,000,000.00
CITY OF LAGUNA NIGUEL
Account Number : 18D83672
Money Market Fund Activity (Continued)
Transaction
Date Activit}'. Shares
Beginning Balance
11/03/25 Purchase 27,088.70000
11/03/25 Reinvest 7,826.05000
11 /04/25 Purchase 12,602.74000
11/06/25 Redemption (2,700,000.00000)
11 /10/25 Purchase 2,000,000.00000
11 /12/25 Purchase 976.71000
11 /14/25 Redempt ion (1 ,050,000.00000)
11/17/25 Purchase 838.70000
11 /18/25 Purchase 215,625 .00000
11/21/25 Redemption (347,589.72000)
11 /25/25 Purchase 913.01000
11 /28/25 Purchase 944.86000
Ending Balance
Price Market Value ($)
1~0000 2,892,285.53
27,088.70
12,602.74
(2,700 ,000.00)
2,000,000.00
976.71
(1 ,050,000.00)
838.70
215,625.00
(347,589.72)
913.01
944.86
1.0000 1,061,511.58
15
Statement Ending: November 30, 2025
Dividend Amount Share Balance
2,892,285.53000
2,919,374.23000
7,826.05 2,927,200.28000
2,939,803.02000
239,803.02000
2,239,803.02000
2,240,779.73000
1, 190,779.73000
1, 191 ,618.43000
1.407,243.43000
1,059,653.71000
1,060,566.72000
1,061 ,511.58000
1,061,511.58000
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
Investm ent Selection
Source
PENSION Moderate - Index
Investment Objective
Source
Balance as of
11/1/2 025
$2,554,224 99
S2,554 ,224.99
Con tributions
$0 00
S0 .00
Expenses
$14,4 78,37 $1 ,249 44
$14,478 .37 $1,249 .44
Account Report for the Period
11/1/2025 to 11/30/2025
D1stribut1ons Transfers
$0 00 $0 00
S0.00 S0 .00
Balance as of
11 /30/2025
$2,567,453 92
S2.567.453 92
PENSION
The dual goals of the Modera te Strategy are growth of principal and income It is expec ted that dividend and interest income will comp rise a significant po rtion of total return , althoug h growth through capi tal app reciatio n 1s equa lly important The portfolio Investmen t Return
Source 1-Month 3-Months
PENSION 0 57% 3 87%
will be allocated between equity and fixed income investments 1-Year
1001 % 1051%
Annualized Return
5-Ycars
502 %
10-Ycars
Information as provided by US Bank, 1 rustcc for PARS Not ~ DIC Insured. No Bank Guarantee. May Lose Value Plan·s Inception Date
512612020
Past performance does not guarantee future results Performance returns may not reflect the deduction of applicable fees. which could reduce rcIurns Information is deemed reliable but may be subj<..'CI to change Investment Rc1urn Annualized rate of return is the return on an investmem over a period other than one year multiplied or divided to give a comparab le onc•ycar return Account balances are inclusive of I rust Adminislration, I rustee and Investment Management fees Headquarters - 4350 Von Karman Ave Suite 100, Newport Beach, CA 92660 800 540 6369 Fax 9492501250 www pars org 16