To:
FROM:
DATE:
SUBJECT:
CITY OF LAGUNA NIGUEL
CITY COUNCIL AGENDA ITEM
Honorable Mayor and Council Members
Tamara S. Letourneau , City Manager
July 21 , 2026
Investment Report as of May 31 , 2026
RECOMMENDATION
Staff recommends that the City Council receive and file the City of Laguna Niguel Investment Report as of May 31 , 2026.
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 last Federal Open Market Committee (FOMC) meeting concluded on June 17, 2026.
Despite the fact that the Federal Funds rate was left unchanged at 3.50-3. 75%, it was a historical meeting. It represented the first meeting for the new chair, Kevin Warsh, the seventeenth chair in the Committee 's history, which dates back to December 1913. Chair Warsh indicated that he was the sole member of the Committee that did not participate in the dot plot as he does not believe the dot plot is helpful in conducting the Fed policy. He also directed that the Fed policy statement be shortened and removed explicit forward looking language. He said "forward guidance isn't the business we should be in". He plans to evaluate the frequency of press conferences and the publication of economic projections , meeting transcripts , and FOMC minutes by the end of the year.
The CME Fed Watch tool is predicting a 0% chance rates are lower than the current target of 3.50-3. 75% by the end of the calendar year (Figure 1 ). The five-year treasury rate continues to hover near year-to-date highs in 2026 (Figure 2).
Figure 1
CME Tool Projections
29 Jul26 16 Sep~6 ?8 Oct26 9 Dec26 27 .Jan.27 17 Mar27 ~8Apr2~ 9 Jun~7 28 Jut:!7 15 Sep27
MEETING DATE
9 Dec 2026 ZOZ6
MEETING INFORMAT ION
31 Dec 2026
Target Rate Probabilities for 9 Dec 2026 Fed Meeting
100,
60"
40'1,
32.696
9.996
-
350-375 375-400
Figure 2
Five-Year Treasury Rates
95 9775
Current target rate 1s 350 - 375
37.2%
400-425
9 17~
FRED -
1 - Market Yield on U.S. Treasury Securit ies at 5-Year Constant Maturity , Quoted on an Investmen t Basis
4.4 4.3
PROBABILffiES
PRIOR OI EASE
143 918 00 % 9 9% 90 1 %
1 7. 596
425-450 450-475
42 j\J\J
4.1 c 4.0
Cl/
t::'.
QJ 3.9 a..
3.8 37
36 35
2025--08 2025-09 2025-10 2025-11 2025-12 2026-01 2026-02 2026-03 2026--04 2026-05 2026-06 The City's portfolio continues to be in a strong position. Upward pressure on interest rates will increase the yield offered by LAIF, as the state will be able to purchase securities at a higher yield. Additionally , higher rates will allow the City to continue to evaluate the portfolio and capture higher yields for longer time periods. 2026-07
Page3
The City's average weighted yield-of 4.023% exceeded the yields of LAIF, the 1-year Treasury, and the 6-month Treasury benchmark while remaining near the 5-year Treasury yield.
Benchmark Comparison:
City Portfolio 5-Year 1-Year 6-Month LAIF
Treasury Treasury Treasury
4.023% 4.130% 3.790% 3.780% 3.810%
The City's section 115 Trust balance was $2. 73 million at the end of May 2026, increasing nearly 37% since the original investment of $2.0 million.
The following table compares the portfolio balance for the prior two months:
• Over the past month, total cash and investments increased by $3,895,017, which was anticipated by City staff. The County historically allocates large portions of property taxes in the month of May. Because property taxes account for over 50% of General Fund revenues annually, months that include significant tax distributions typically result in overall increases in the City's total cash and investment balances.
• Although LAIF yields continue to be on a downward trend, the LAIF yield is higher than money market options available to the City. To capture additional yield without sacrificing safety or liquidity, City staff transferred additional excess property tax proceeds into LAIF during the month of May. As a result, the percentage of pooled investments in LAIF increased to 16.50%. • The average weighted maturity of City investments, including investment pools and money market funds, decreased to 1,229 days. The average weighted maturity for the portfolio, excluding money market funds, is 1,579 days.
Average weighted maturity is calculated by multiplying the days remaining to maturity of each investment by its cost and dividing by the total portfolio cost. • The net LAIF yield declined from 3.811 % to 3.810%, marking the twenty first consecutive monthly decline. The net yield of money market funds in the City's safekeeping account decreased from 3.540% to 3.530%. The LAIF/PMIA rate now slightly exceeds the federal funds rate based on the most recent State Controller data (Figure 3)
Figure 3
Average Month ly Yield Compa 1r1'son 05 0211 through 01 2026
6.00% -,------------------------
5.00% +----- --------= .,,-:;,,o....:::..._----~ "'-c------ __;
4.00% +-------- --.t!-:-=_ __ _,_.,..~~:::: ~ ~~~~-=-ll:::ld, ... _
3.00% +------- --:4'~ ~ --;.;.._------------
2.00% +--- - ----I': ~ ,.,._ ______________ __:
1.00% +-· ----~ -=-----------------____;
0.00% -----~ !!=::...--,---.-........- ........ --,----.-----.--..----.----
--PMIA
-- &P
- - - •fe Funds
ayYieilds
P 3.810%
S P GIP 3.S20"la
Fed F nds 3.630%
• The City's average weighted yield, including investment pools and money market funds, decreased from 4.031 % to 4.023% , mostly due to an increase in the overall portfolio. Any short-term increases are invested primarily in LAIF or money market accounts, which were yielding less than the City fixed income portfolio, so those investments will reduce the average yield. The weighted yield, excluding money markets and LAIF is 4.106%. The City's weighted-average yield is calculated by dividing total portfolio investment earnings by the total portfolio cost, inclusive of investment pools and money market funds.
The monthly Investment Report as of May 31 , 2026, is attached.
ALTERNATIVES CONSIDERED
The City Council can choose not to receive and file the City of Laguna Niguel Investment Report as of May 31 , 2026.
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. ~ ou~ !W~
City Manager
Attachment:
Trevor Agrelius
Finance Director
A. Monthly Investment Report as of May 31 , 2026
ATTACHMENT A
Investment Report as of May 31, 2026
CITY OF LAGUNA NIGUEL
INVESTMENT REPORT
as of
May 31, 2026
Tamara S. Letourneau
CITY MANAGER
Trevor Agrelius
FINANCE DIRECTOR
July 21, 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
6-14
15 City of Laguna Niguel
Statement of Compliance/Non-Compliance with the City's Investment Policy The undersigned officers of the City of Laguna Niguel hereby certify that:
As of May 31, 2026 , 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.
~o~a~~~ A~
City Manager Finance Director
City of Laguna Niguel
Summary of Cash and Investments
5/31/2026
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 2,500.00
Checking & Investment Accounts 3.490% 2,682,569.35 4.13% N/A 2,682,569.35 Safekeeping Money Market 3.530% 989,921.57 1.52% 10.00% 989,921.57 Local Agency Investment Fund 3.810% 10,721,381.54 16.50% >$40 million or 55% 10,721,381.54 US Treasury Note: 46.17% N/A
91282CJK8 11/30/2023 11/15/2026 4.625% 4.310% 1,008,640.00 1,003,687.50 128,749.72 91282CJAO 11/10/2023 9/30/2028 4.625% 4.500% 1,005,380.00 1,013,281.25 221,376.41 91282CJN2 12/8/2023 11/30/2028 4.375% 4.020% 2,031,720.00 2,015,156.24 407,033.11 91282CKG5 4/12/2024 3/31/2029 4.250% 4.500% 1,475,175.00 1,502,226.57 329,913.80 91282CFJ5 10/24/2024 8/31/2029 3.125% 4.000% 961,730.00 970,937.50 186,760.06 91282CLN9 11/6/2024 9/30/2029 3.500% 4.310% 970,990.00 981,718.75 205,120.71 91282CMA6 12/20/2024 11/30/2029 4.125% 4.330% 990,940.00 1,000,859.38 212,304.96 91282CMDO 1/13/2025 12/31/2029 4.375% 4.470% 995,790.00 1,009,531.25 221,095.66 91282CGZ8 5/13/2025 4/30/2030 3.500% 4.000% 1,466,505.00 1,466,601.57 291,372.45 91282CHW4 11/21/2025 8/31/2030 4.125% 3.619% 4,087,812.50 3,997,656.24 706,859.61 91282CMC2 4/24/2025 12/31/2031 4.500% 4.075% 1,024,620.00 1,014,726.56 279,346.50 91282CFV8 4/11/2025 11/15/2032 4.125% 4.126% 1,999,870.00 1,986,171.88 627,306.89 91282CJJ1 1/7/2025 11/15/2033 4.500% 4.530% 1,496,655.00 1,516,757.82 600,713.03 91282CKQ3 1/13/2025 5/15/2034 4.375% 4.660% 978,560.00 1,002,421.88 425,899.88 91282CLF6 10/9/2024 8/15/2034 3.875% 4.079% 1,955,400.00 1,934,375.00 786,025.96 91282CLW9 12/20/2024 11/30/2034 4.250% 4.349% 3,968,2po.oo 3,965,937.52 1,717,119.88 91282CMMO 3/25/2025 2/15/2035 4.625% 4.275% 3,083,550.00 3,052,265.64 1,305,216.03 91282CNC1 5/15/2025 5/15/2035 4.250% 4.375% 495,000.00 494,531.25 216,681.16 Municipal Bonds: 3.06%
13063ETP1 5/4/2026 4/1/2031 4.050% 4.150% 1,991,100.00 1,977,410.00 405,908.92 Certificates of Deposit: 6.16% 30%
15140RCY3 7/25/2023 7/26/2027 4.700% 4.700% 250,000.00 251,907.60 47,064.38 8562834C7 7/31/2023 8/2/2027 4.600% 4.600% 250,000.00 251,647.98 46,094.52 15118RM38 12/8/2023 12/8/2027 4.600% 4.600% 250,000.00 251,990.70 46,031.51 33610RVD2 12/12/2023 12/10/2027 4.550% 4.550% 250,000.00 251,849.28 45,468.84 05580AY24 7/18/2023 4/14/2028 4.400% 4.408% 249,875.00 251,298.78 52,266.02 2546733V6 7/18/2023 4/17/2028 4.400% 4.408% 249,875.00 251,386.50 52,356.55 20033A4J2 7/26/2023 7/26/2028 4.450% 4.450% 250,000.00 251,758.93 55,685.96 062119CD2 7/28/2023 7/28/2028 4.500% 4.500% 250,000.00 252,021.23 56,311.64 02589AF64 11/1/2023 11/1/2028 5.000% 5.000% 250,000.00 254,964.48 62,568.49 87165E3V7 11/3/2023 11/3/2028 5.000% 5.000% 250,000.00 254,975.45 62,568.49 795451DH3 12/13/2023 12/13/2028 4.400% 4.400% 250,000.00 251,662.10 55,060.27 58404DTX9 12/22/2023 12/22/2028 4.300% 4.300% 250,000.00 251,116.55 53,808.90 32110YK46 12/28/2023 12/28/2028 4.300% 4.300% 250,000.00 251,121.83 53,808.90 848608FB6 1/31/2024 1/31/2029 3.950% 3.950% 250,000.00 248,939.20 49,429.11 903572GQ2 2/14/2024 2/14/2029 3.950% 3.950% 250,000.00 248,919.80 49,429.11 89235MPR6 6/28/2024 6/28/2029 4.500% 4.500% 250,000.00 252,597.30 56,280.82 Federal Farm Credit Banks: 9.26% 25.00%
3133EPH81 12/8/2023 10/4/2027 4.500% 4.150% 2,024,580.00 2,015,095.96 321,347.99 3133EPW84 1/30/2024 1/18/2029 3.875% 3.930% 2,493,800.00 2,487,309.08 487,370.28 3133EP3B9 2/26/2024 2/13/2029 4.125% 4.200% 1,494,975.00 1,502,504.30 312,052.48 Federal National Mortgage Association: 6.98% 25.00%
31359MGK3 11/21/2025 11/15/2030 6.625% 3.649% 4,537,880.00 4,400,101.88 825,667.89 Federal Home Loan Banks: 6.21% 25.00%
3130AWC24 6/23/2023 6/9/2028 4.000% 3.930% 2,006,180.00 1,998,633.98 391,622.28 3130AOFR6 11/21/2025 12/8/2028 4.000% 3.507% 2,028,220.00 1,996,805.36 216,896.79
22.45% 60.00%
Total City Investments Including Investment Pools 64,969,394.96 100.00% 64,731,234.53 12,673,995.98 Restricted for Specific Use
PARS 115 Pension Trust 2,000,000.00 2.99% 20.00% 2,725,870.17 Average weighted maturity of Investments, excluding Investment Pools: 1,579 days Average weighted maturity of Investments, including Investment Pools and Money Market: 1,229 days Average weighted yield of Investments, excluding Investment Pools: 4.106% Average weighted yield of Investments, including Investment Pools and Money Market: 4.023% • Market value of City investments is provided by Wells Fargo Bank 2 6/1/26, 9:39 AM LAIF Regular Monthly Statement
Local Agency Investment Fund
PO Box 942809
Sacramento, CA 94209-000 I
(916) 6:53-3001
CITY OF LAGUNA NIGUEL
TREASURER
30 1 l l CROWN VALLEY PARKWAY
LAGUNA NTGUEL, CA 92677
June 01 , 2026
LAIF Home
P'Yll A A, erage :vtonthl~~
Tran Type Defimt1011s
Account Number: 98-30-408
May 2026 Statement
. . Tran Effective Transaction T Confirm
Date Date ype Number
5/5/2026 5/ l /2026 RW 1799627
5/8/2026 5/7/2026 RD 1799784
Account SummarY.
Web
Confirm
Number
1760317
1760485
Authorized Caller
TREVOR AGRELTUS
TREVOR AGRELIUS
Total Deposit: 3,000,000 .00 Beginning Balance•
Total Withdrawal• -2,000,000 .00 Ending Balance
https://laifms.treasurer .ca.gov/RegularStatement.aspx
3 Amount
-2,000.000 00
3,000,000 .00
9,721 ,38 1.54
10,721 ,38 1.54
1/1
PMIA/LAIF Performance Report
as of 06/10/26
Quarterly Performance
Quarter Ended 03/31/26
PMIA Average Monthly
Effective Yieldsl1l
LAIF Apportionment Rate(2):
LAIF Earnings Ratio(2):
LAIF Administrative Cost(l)*:
LAIF Fair Value Factor(1):
PM IA Daily(1):
PMIA Quart er to Date(1):
PMIA Average Life(1):
3.98 0.00010906180047888
0.24 0.999980831
3.82 3.92
261
May
April
March
February
January
December
Pooled Money Investment Account
Monthly Portfolio Composition 111
05/31/26
Time
Deposits
Certificates of
Deposit/Bank Notes
10.15%
$177.4 billion
Commerc ial
Paper
6.52%
Corporate
Bonds
0.61%
3.810
3.811
3.826
3.871
3.931
4.025
Treasuries
58.59%
Agencies
20.92%
Chart doe s not include $776,000 .00 in mortgage s, whi ch equates to 0.001%. Percentage s may not total 100% due to round ing.
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 Code 20825 {c)(l ) .
*The percentage of administrat ive cost equals the total administrative cost divided by the quarterly interest earnings. The law provides that administrat ive 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 Californ ia, Office of the Controller
~~~'\ \ti\VES1"41~~_,, State of California
~ • ' ?.
Pooled Money Investment Account c::> (")
I.I.I (") ..., 0
c::, c::
Market Valuation
c:> -a-e>- .....,
.J' ()
~ .... <". ~~
5/31/2026 '>--tmum,,,·
Carrying Cost Plus
Description Accrued Interest Purch. Fair Value Accrued Interest United States Treasury :
Bills $ 49,526,023,152.71 $ 49,899,870,150.00 NA
Notes $ 51 ,645,484,612.87 $ 51 ,525,930,700.00 $ 507,402,510.50 Federal Agency:
SBA $ 299,097,191 .51 $ 296,941 ,765.20 $ 1,002,302.30
MBS-REMICs $ 775,484.20 $ 779,821.48 $ 3,382.99
Debentures $ 4,271 ,502,750.50 $ 4,255,773,700.00 $ 38,880,873.10 Debentures FR $ - $ - $ -
Debentures CL $ 2,400 ,000,000.00 $ 2,390,221 ,450.00 $ 18,940,661 .00 Discount Notes $ 19,902,628,638.91 $ 20,060,009,900.00 NA Supranational:
Debentures $ 4,186,623,838.10 $ 4,162,433,600.00 $ 44,985,880.70 Debentures FR $ - $ - $ -
Debentures CL $ 500,000,000.00 $ 499,860,900.00 $ 3,090,556.00 Discount Notes $ 5,555,709,611 .14 $ 5,595,750,800.00 NA CDs and YCDs FR $ - $ - $ -
Bank Notes $ 600,000,000.00 $ 599,338,101 .55 $ 6,887,916.67 CDs and YCDs $ 17,400,000,000.00 $ 17,392,778,592.54 $ 184,121 ,763.84 Commercial Paper $ 11 ,562,962,430.54 $ 11 ,649,639,777.73 NA Corporate :
Bonds FR $ - $ - $ -
Bonds $ 1,072,501,225.28 $ 1,069,101 ,845.00 $ 8, 192,664.44 Repurchase Agreements $ - $ - $ -
Reverse Repurchase $ - $ - $ -
Time Deposits $ 5,467,000,000.00 $ 5,467,000,000.00 NA
PMIA & GF Loans $ 235,475,543.00 $ 235,475,543.00 NA
TOTAL $ 174,625,784,478.76 $ 175,100,906,646.50 $ 813,508,511 .54 Fair Value Including Accrued Interest $ 175,914,415,158.04 Repurchase Agreements , Time Deposits, PMIA & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). 5 Account Summary use
Multi-currency Account Net Equity
Wells Fargo Bank, N.A. Account Statement for May 2026
May 01, 2026-May 31, 2026
CITY OF LAGUNA NIGUEL Account 1 B083672
Currency Net Cash Balance Long Market Value Short Market Value USO US Dollar
Total
Portfolio Value
Classification
Fixed Income Long
Money Market Mutual Funds
Total
Income Summary
Classification
Interest
Money Market Mutual Fund Dividends
Total
Cash Activity Summary
Classification
Funds Received
Funds Issued
Other Debit
Total
Money Market Mutual Funds Summary
Classification
Opening Balance
Deposits and Other Additions
Distributions and Other Subtractions
Dividends Reinvested
Change in Value
Closlrig.Balarice
PAGE 3 OF 12
0.00 51,324,783.64 0.00
Previous Period
88,573.27
8,909.53
97;482.80
6 CCV Net Equity
CCV Rate
51,324,783.64
1.00000000
Previous Period
48,552,826.71
1,066,945.47
• 49,619,772.18
This Period
365,885.27
2,690.83
• 368;576.10 •.
Previous Period
500,000.00
(1,600,000.00)
0.00 • (1~ 100,00Q.OO)
USD Net Equity
51,324,783.64
. 51,324,783.64
This Period
50,334,862.07
989,921.57
5.1 ;324, 783.64
841,890.53
62,985.48
904,1$76.01
This Period
1,550,000.00
0.00 (1,995,600.00)
(445;600:00)
This Period
1,066,945.47
1,915,885.27
(1,995,600.00)
2,690.83
0.00 Wells Fargo Bank, N~A. Account Statement for May 2026 May 01, 2026aMay 31, 2026
Holdings use
Money Market Mutual Funds
Security ID Description
CJTXX JPMorgan 100% UST C 3163
Fixed Income - Long Positions
Security ID Descriptic:m
91282CJK8 UNITED STATES TREASURY NOTE
15140RCY3 CENTIER BANK INTEREST BEARING
8562834C7 STATE BANK INDIA INTEREST
3133EPH81 FEDERAL FARM CREDIT BANK
15118RM38 CELTIC BANK INTEREST BEARING
33610RVD2 FIRST PREMIER BANK INTEREST
05580AY24 BMW BANK NORTH AMERICA
2546733V6 CAPITAL ONE NA INTEREST
3130AWC24 FEDERAL HOME LOAN BANK
20033A4J2 COMENITY CAPITAL BANK INTEREST
062119CD2 BANK FIVE NINE INTEREST
91282CJA0 UNITED STATES TREASURY NOTE
02589AF64 AMERICAN EXPR NATL BK INTEREST
87165E3V7 SYNCHRONY BANK INTEREST
91282CJN2 UNITED STATES TREASURY NOTE
PAGE 4 OF 12
CITY OF LAGUNA NIGUEL Account 18083672
Acc:01.mt Type
CASH
Accm .. urit Type
CASH
CASH
CASH
CASH
CASH
CASH
CASH
CASH
CASH
CASH
CASH
CASH
CASH
CASH
CASH
Beginning Shara Balance
End Share Balance
7 1,066,945.47000
989,921.57000
Maturity Date
Coupon Rate
11/15/2026
4.625000000000
07/26/2027
4. 700000000000
08/02/2027
4.600000000000
10/04/2027
4.500000000000
12/08/2027
4.600000000000
12/10/2027
4.550000000000
04/14/2028
4.400000000000
04/17/2028
4.400000000000
06/09/2028
4.000000000000
07/26/2028
4.450000000000
07/28/2028
4.500000000000
09/30/2028
4.625000000000
• 11/01/2028
5.000000000000
11/03/2028
5.000000000000
11/30/2028
4.375000000000
Beginning Price
End Price
1.0000
1.0000
Quantity
Cw-rent Face
1,000,000.00
1,000,000.00
250,000.00
250,000.00
250,000.00
250,000.00
2,000,000.00
2,000,000.00
250,000.00
250,000.00
250,000.00
250,000.00
250,000.00
250,000.00
250,000.00
250,000.00
2,000,000.00
2,000,000.00
250,000.00
250,000.00
250,000.00
250,000.00
1,000,000.00
1,000,000.00
. 250,000.00
250,000.00
250,000.00
250,000.00
2,000,000.00
2,000,000.00
Beginning Market Val
End Market Value
1,066,945.47
989,921.57
•.1·,Q66,945~47'?
· JJ89;921;5T.
Market Price
Market Value
100.3688
1,003,687.50
100.7630
251,907.60
100.6592
251,647.98
100.7548
2,015,095.96
100.7963
251,990.70
100.7397
251,849.28
100.5195
251,298.78
100.5546
251,386.50
99.9317
1,998,633.98
100.7036
251,758.93
100.8085
252,021.23
101.3281
1,013,281.25
101.9858
254,964.48
101.9902
254,975.45
100.7578
2,015,156.24
Quantity Pledged
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 Holdings continued on next page ➔
Wells Fargo Bank, N.A. Account Statement for May 2026
May 01 , 2026-May 31 , 2026
CITY OF LAGUNA NIGUEL Account 18083672
Holdings USD Continued
Fixed Income - Long Positions Continued
Security ID Description Account Type Maturity Date Quantity Coupon Rate Current Face
3130A0FR6 FEDERAL HOME LOAN BANK CASH 12/08/2028 2,000,000.00
4.000000000000 2,000,000.00
795451DH3 SALLIE MAE BANK/SALT LKE CASH 12/13/2028 250,000.00 4 .400000000000 250,000.00
58404DTX9 MEDALLION BANK UT AH INTEREST CASH 12/22/2028 250,000.00
4.300000000000 250,000.00
32110YK46 FIRST NATL BK OF AMERICA CASH 12/28/2028 250,000.00
4.300000000000 250,000.00
3133EPW84 FEDERAL FARM CREDIT BANK CASH 01/18/2029 2,500,000.00
3.875000000000 2,500,000.00
848608FB6 SPIRITBANK NA INTEREST BEARING CASH 01/31/2029 250,000.00
3.950000000000 250,000.00
3133EP3B9 FEDERAL FARM CREDIT BANK CASH 02/13/2029 1,500,000.00
4.125000000000 1,500,000.00
903572GQ2 UINTA BANK INTEREST BEARING CASH 02/14/2029 250,000.00
3.950000000000 250,000.00
91282CKG5 UNITED STATES TREASURY NOTE CASH 03/31/2029 1,500,000.00
4.125000000000 1,500,000.00
89235MPR6 TOYOTA FINANCIAL SGS BK CASH 06/28/2029 250,000.00
4.500000000000 250,000.00
91282CFJ5 UNITED STATES TREASURY NOTE CASH 08/31/2029 1,000,000.00
3.125000000000 1,000,000.00
91282CLN9 UNITED STATES TREASURY NOTE CASH 09/30/2029 1,000,000.00
3. 500000000000 1,000,000.00
91282CMA6 UNITED STATES TREASURY NOTE CASH 11/30/2029 1,000,000.00
4.125000000000 1,000,000.00
91282CMD0 UNITED STATES TREASURY NOTE CASH 12/31/2029 1,000,000.00
4. 3 7 5000000000 1,000,000.00
91282CGZ8 UNITED STATES TREASURY NOTE CASH 04/30/2030 1,500,000.00
3. 500000000000 1,500,000.00
91282CHW4 UNITED STATES TREASURY NOTE CASH 08/31/2030 4,000,000.00
4.125000000000 4,000,000.00
31359MGK3 FANNIE MAE CASH 11/15/2030 4,000,000.00
6.625000000000 4,000,000.00
13063ETP1 CALIFORNIA ST TXBL-BI0 GROUP A CASH 04/01/2031 2,000,000.00
4.050000000000 2,000,000.00
91282CMC2 UNITED STATES TREASURY NOTE CASH 12/31/2031 1,000,000.00
4. 500000000000 1,000,000.00
PAGE 5 OF 12
8 Market Price Quantity Pledged Market Value
99.8403 0.00
1,996,805.36
100.6648 0.00
251 ,662.10
100.4466 0.00
251 ,116.55
100.4487 0.00
251 ,121.83
99.4924 0.00
2,487,309.08
99.5757 0.00
248,939.20
100.1670 0.00
1,502,504.30
99.5679 0.00
248,919.80
100.1484 0.00
1,502,226.57
101.0389 0.00
252,597.30
97.0938 0.00
970,937.50
98.1719 0.00
981 ,718.75
100.0859 0.00
1,000,859.38
100.9531 0.00
1,009,531 .25
97.7734 0.00
1,466,601 .57
99.9414 0.00
3,997,656.24
110.0025 0.00
4,400 ,101.88
98.8705 0.00
1,977,410.00
101.4727 0.00
1,014,726.56
Holdings continued on next page ➔
Wells Fargo Bank, N.A. Account Statement for May 2026
May 01, 2026-May 31, 2026
CITY OF LAGUNA NIGUEL Account 18083672
Holdings uso Continued
Fixed Income - Long Positions Continued
Security ID Description Account Type Maturity Date Quantity Coupon Rate Current Face
91282CFV8 UNITED STATES TREASURY NOTE CASH 11/15/2032 2,000,000.00
4.125000000000 2,000,000.00
91282CJJ1 UNITED STATES TREASURY NOTE CASH 11/15/2033 1,500,000.00
4.500000000000 1,500,000.00
91282CKQ3 UNITED STATES TREASURY NOTE CASH 05/15/2034 1,000,000.00
4.375000000000 1,000,000.00
91282CLF6 UNITED STATES TREASURY NOTE CASH 08/15/2034 2,000,000.00
3.875000000000 2,000,000.00
91282CLW9 UNITED STATES TREASURY NOTE CASH 11/15/2034 4,000,000.00
4.250000000000 4,000,000.00
91282CMM0 UNITED STATES TREASURY NOTE CASH 02/15/2035 3,000,000.00
4.625000000000 3,000,000.00
91282CNC1 UNITED STATES TREASURY NOTE CASH 05/15/2035 500,000.00
4.250000000000 500,000.00
Tatar, . . ,:,\",
,''t,-,---
'SQ,D~o,poQ:oo,<
:.,5(),Q00;000.00; .
tt Limited security description available, please contact Customer Service at [email protected] or 1-800-645-3751, option 5 for any questions. ttt There is not an active market for this investment; a market price, and therefore a market value, is not available (N/A).
Transactions uso
Interest
Transaic:tk.111 Transaction Date
05/01/2026 Interest
05/04/2026 Interest
05/08/2026 Interest
05/14/2026 Interest
05/15/2026 Interest
05/15/2026 Interest
Description
AMERICAN EXPR NATL BK INTEREST
SYNCHRONY BANK INTEREST
GEL TIC BANK INTEREST BEARING
UINTA BANK INTEREST BEARING
UNITED STATES TREASURY NOTE
UNITED STATES TREASURY NOTE
Security ID Quantity
02~89AF64 0.00
87165E3V7 0.00
15118RM38 0.00
903572GQ2 0.00
91282CJJ1 0.00
91282CNC1 0.00
Market Price Quantity Pledged Market Value
99.3086 0.00
1,986,171.88
101.1172 0.00
1,516,757.82
100.2422 0.00
1,002,421.88
96.7188 0.00
1,934,375.00
99.1484 0.00
3,965,937.52
101.7422 0.00
3,052,265.64
0.00 ,.o.oo
Credit Debit
6,198.63
6,198.63
945.21
811.64
33,750.00
10,625.00
Transactions continued on next page ➔
PAGE 6 OF 12
9 Transactions uso Continued
Interest Continued
Transaction Transaction Date
05/15/2026 Interest
05/15/2026 Interest
05/15/2026 Interest
05/15/2026 Interest
05/15/2026 Interest
05/22/2026 Interest
05/26/2026 Interest
05/28/2026 Interest
05/29/2026 Interest
Total
Funds Paid and Received
Transaction Transaction Date
05/01/2026 DESIGNATED DDA
05/07/2026 DESIGNATED DDA
Total
Other Activity
Transaction Transaction Date
05/04/2026 Security Movement
Total
Money Market Mutual Fund Activity
PAGE 7 OF 12
Wells Fargo Bank, N.A. Account Statement for May 2026
May 01, 2026-May 31, 2026
CITY OF LAGUNA NIGUEL Account 18083672
Description Security ID Quantity
UNITED STATES TREASURY NOTE 91282CFV8 0.00
UNITED STATES TREASURY NOTE 91282CJK8 0.00
UNITED STATES TREASURY NOTE 91282CLW9 0.00
FANNIE MAE 31359MGK3 0.00
UNITED STATES TREASURY NOTE 91282CKQ3 0.00
MEDALLION BANK UTAH INTEREST 58404DTX9 0.00
COMENITY CAPITAL BANK INTEREST 20033A4J2 0.00
BANK FIVE NINE INTEREST 062119CD2 0.00
FIRST NATL BK OF AMERICA 32110YK46 0.00
Description
DESIGNATED DDA
DESIGNATED ODA
Description Security ID Quantity
Price
CALIFORNIA ST TXBL-BID GROUP A 13063ETP1 2,000,000.00
99.5550000
7_da~ simple
Fund Ticker yield
JPMorgan 100% UST C 3163 CJTXX 3.53
10 Credit Debit
41,250.00
23,125.00
85,000.00
132,500.00
21 ,875.00
883.56
914.38
924.66
883.56
365,885.27 0.00
Credit Debit
1,000,000.00
550,000.00
1,550,000.00 0.00
Credit Debit
(1 ,995,600.00)
0.00 (1,995,600.00)
Beginning Price Ending Price
1.0000 1.0000
Transactions continued on next page ➔
Transactions uso Continued
Wells Fargo Bank, N.A. Account Statement for May 2026
May 01, 2026-May 31, 2026
CITY OF LAGUNA NIGUEL Account 18083672
Money Market Mutual Fund Activity Continued
Transaction Activity Shares Date Dividend Amount
Begir,ning. ;
Bal.anc.e
05/01/2026 Purchase 6, 198.63000
05/01/2026 Purchase 1,000,000.00000
05/01/2026 Dividend 2,690.83
05/01/2026 Reinvest Dividend 2,690.83000
05/04/2026 Purchase 6, 198.63000
05/04/2026 Redemption ·(1,995,600.00000)
05/07/2026 Purchase 550,000.00000
05/11/2026 Purchase 945.21000
05/14/2026 Purchase 811.64000
05/15/2026 Purchase 348,125.00000
05/22/2026 Purchase 883.56000
05/26/2026 Purchase 914.38000
05/28/2026 Purchase 924.66000
05/29/2026 Purchase 883.56000
En~ihg • : ., ·; .
\" /\~-_.'-~:··. :<::-.. : .. / :; ·:
Balance . •
~ t,'~:. •• -
tt Limited security description available, please contact Customer Service at [email protected] or 1-800-645-3751, option 5 for any questions. ttt There is not an active market for this investment; a market price, and therefore a market value, is not available (N/A).
PAGE 8 OF 12
11 Market Value Share Balance
: J ;066,9.i5.47. ·~ ,066,945.~7'.()0()
6,198.63 1,073, 144.10000
1,000,000.00 2,073, 144.10000
2,073, 144.10000
2,690.83 2,075,834.93000
6,198.63 2,082,033.56000
(1,995,600.00) 86,433.56000
550,000.00 636,433.56000
945.21 637,378.77000
811.64 638, 190.41000
.-348, 125 .00 986,315.41000
883.56 987, 198.97000
914.38 988, 113.35000 •
924.66 989,038.01000
989,921.57000
989;921.57000
BR STMT
Wells Fargo Securities, LLC
550 S Tryon St.
Charlotte, NC 28202
CITY OF LAGUNA NIGUEL
30111 CROWN VALLEY PARKWAY
LAGUNA NIGUEL CA 92677-2001
Wells Fargo Securities, LLC Account
Statement for May 2026
May 01, 2026-May 31, 2026
CITY OF LAGUNA NIGUEL Account 18083672
For inquiries, please contact:
Customer Service
Phone: 1-800-645-3751
Investments, other than Brokered Certificates of Deposits, are not FDIC insured, may lose value, and are not bank guaranteed - see important disclosures on the reverse of your account summary page.
PAGE 9 OF 12
Wells Fargo Securities, LLC Account Statement for May 2026 01, 2026-May 31, 2026
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.
CITY OF LAGUNA NIGUEL Account 18083672
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
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 For WFS customers who choose to maintain a safekeeping
account at Wells Fargo Bank, N.A. ("Bank"), this statement is accompanied by a sepa'rate Bank safekeeping statement.
The Bank safekeeping statement, if applicable, contains a list of securities held in safekeeping by the Bank as of the statement date.
Equity Extended Hours Trading: See important re-confirm in writing to the above address any oral information relating to equities trading before and after communications with WFS relating to the inaccuracies or regular trading hours at: www.wellsfargo.com/cib/regulatory discrepancies.
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 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.
price provided is the closing price at month end. For unlisted Dividend Reinvestment: In any dividend reinvestment securities, it is the "bid" price at month end. The prices of transaction, WFS acted as agent. Additional information CDs that mature in one year or less are shown at last price regarding transactions of this nature will be furnished to a traded. The prices of CDs that mature in greater than one customer upon written request. year and of other instruments that trade infrequently are estimated using similar securities for which prices are Account Transfers: A fee will be charged to customers available. Prices on the statement may not necessarily be transferring their existing WFS account to another obtained when the asset is sold. broker/dealer or any other financial institution.
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 fina_ncial 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 determines the fee is in the fund's best
interest. The Prime fund will impose a mandatory liquidity Brokered CD Pricing and Disclosure Statement: Like Non-deposit investment products recommended, fee when you redeem fund shares, if daily net redemptions bonds, brokered CDs are subject to price fluctuation and the offered or sold by WFS, including mutual funds, are exceed 5% of net assets and no exception applies. value of a CD, if sold prior to maturity, may be less than at not federally insured or guaranteed by or obligations of the time of its purchase. Significant loss of principal could the Federal Deposit Insurance Corporation ("FDIC"), Muni Substitute Interest: With respect to transactions result. While WFS generally makes a market in CDs it the Federal Reserve System or any other agency; are involving your purchase of a municipal security having underwrites, the secondary market for CDs that it does not not bank deposits; are not obligations of, or endorsed interest that is exempt from federal and/or state income underwrite may be very limited. In those cases, WFS will or guaranteed in any way by any bank or WFS; and are taxes, if you do not receive good delivery of such securities use its best efforts to help investors find a buyer. The Wells subject to risk, including the possible loss of principal, on settlement date (i.e., all requirements for transferring Fargo Securities, LLC Certificate of Disclosure Statement that may cause the value of the investment and title from the seller to the buyer have occurred), the interest can be found at investment return to fluctuate. that you accrue from the settlement date of the transaction www .wellsfargo.com/assets/pdf/cib/regulatory/cd-disclosure. pdf.
When the investment is sold, the value may be higher
SIPC: WFS is a member of the Securities Investor or lower than the amount originally invested. WFS is a Protection Corporation ("SIPC"). In the event of insolvency subsidiary of Wells Fargo & Company, is not a bank or or liquidation of WFS, securities held in safekeeping at WFS thrift, and is separate from any other affiliated bank or are covered by SIPC against the loss, but not investment thrift. WFS is a registered broker-dealer and member risk, up to a maximum of $500,000 per customer, which of FINRA. No affiliate of WFS is responsible for the includes a $250,000 limit on claims for cash held in the securities sold by WFS. 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. 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.
Securities and Exchange Commission ("SEC") and the
Trade Confirmations: Investment purchases and sales Municipal Securities Rulemaking Board ("MSRB"). The are subject to the terms and conditions stated on the trade website for the SEC is www.sec.gov and the website for 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.org). 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.
PAGE 10 Of 12
confirmation relating to that transaction. In the event of a the MSRB is www.msrb.org. There is a brochure available conflict between the trade confirmation and this statement, th t d f f .11 on the MSRB website that describes the protections e ra e con irma ion WI govern. provided by MSRB rwles and how to file a complaint with . the appropriate regulatory authority. Listed Options: Commissions and other charges related to the execution of listed option transactions have been
included in confirmations 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.
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
[email protected]
Account Summary uso
Multi-currency Account Net Equity
Currency
USD US Dollar
Total
Cash Activity Summary
Classification
Securities Purchased
Other Credit
Transactions uso
Purchase and Sale
Settlement
Date Trade Transaction
Date
05/04/2026 Buy
05/01/2026
Purchases
Total.
Sales Total
Other Activity
Transaction
Date
05/04/2026
Total
Transaction
Security Movement
Wells Fargo Securities, LLC Account Statement for May 2026 May 01, 2026-May 31, 2026
CITY OF LAGUNA NIGUEL Account 1 BO83672
Net Cash Balance long Market Value
0.00 0.00
Description
CALIFORNIA ST TXBL-BID GROUP A
Description
CALIFORNIA ST TXBL-BID GROUP A
Short Market Value
Security ID
13063ETP1
Security ID
13063ETP1
0.00 Quantity
Price
2,000,000.00
99.5550000
Quantity
Price
(2,000,000.00)
99.5550000
CCY Net Equity
CCV Rate
0.00 1.00000000
Previous Period
0.00 0.00
Principal
Interest
(1,991,100.00)
(4,500.00)
Credit
1,995,600.00
t;995;6Q0.00
tt Limited security description available, please contact Customer Service at [email protected] or 1-800-645-3751, option 5 for any questions. ttt There is not an active market for this investment; a market price, and therefore a market value, is not available (N/A).
PAGE 11 OF 12
14 USD Net Equity
0.00 0.00
This Period
(1,995,600.00)
1,995,600.00
Transaction Amount
(1,995,600.00)
. (1,995,600.00)
0.00 Debit
, 0.00
CITY OF LAGUNA NIGUEL
PUBLIC AGENCY
RETIREMENT SERVICES
PARS Post-Employm ent Benefits Trust
Tamara Letourneau
City Manager
City of Laguna Niguel
30111 Crown Valley Parkway
Laguna Niguel, CA 92677
Acco unt Summ ary
Source
PENSION
Totals
Investment Selection
Source
PE SION Moderate - Index
Investment Objective
Source
Balance as of
5/1/2026
S2,668 ,261 00
$2,668 ,261.00
Contribut ions
S000
$0 .00
Earnings
S58,890 78
$58 ,890 .78
Expenses
S1, 28161
$1 ,281.61
Accou nt Report for the Period
5/1/2026 to 5/3 1/2026
Distribut ions Transfers
S000 S000
$0 .00 $0 .00
Balance as of
5/31/2026
S2, 725,870 17
$2,725,870 .17
PENSION
The dua l goals of the Moderate Strategy are growth of prInc1pal and income . It Is expected that d1v1dend and inter est income wil l co mpri se a significant portion of total return . although growth through capital appreciation is equally important. The portfolio Investment Return
Source 1-Month 3-Month s
PENSION 2 21% 2 90%
wi ll be alloca ted between eq uity and fixed income investment s 1-Year 3-Years
16.65% 12.10 %
Annualized Return
5-Years
5.33%
10-Years
lnform.at1on as provided by US Bank. Trustee for PI\RS. Not FDIC Insured . No Bank Guarantee. May Lose Value Plan's Incept ion Date
5/26/2020
Pasl perfor mance does not guarantee future results. Performa nce returns may not reflect the deduc tion or applicable recs. which cou ld reduce returns. Information Is deemed reliable but may be subJect to change. lnvcstmcnl Rel urn : Annuali,cd 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 l\ccou nt balances are inclusive or Trusl l\dmini stralion. Trustee and Investment Management fees I lcadquar ters 4350 Von Karman Ave .. Suite 100. Newport Beach. Cl\ 92660 800.5 40 .6369 r ax 949.250.1250 www. pars.org 15