Investment Report for January 2024 — Lake Elsinore City Council, March 12, 2024

CITY OF LAKE ELSINORE

INVESTMENT REPORT

BANK DEPOSITS OUTSTANDING BOOK

CASH ACCOUNTS BALANCE IN TRANSIT PAYMENTS BALANCE
Bank Accounts:

General Checking Account 21,657,608 $ 534,410 $ (2,882) $ 22,189,136$ Cash On Hand:

Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 2,000 Total Cash Accounts 21,657,608 534,410 (2,882) 22,191,436

INVESTMENTS
Local Agency Investment Funds 50,976,822 - - 50,976,822 CAMP Investments:

CAMP Pool Account 191,349 - - 191,349 U.S. Treasury Bond / Note 22,477,966 - - 22,477,966 Supra-National Agency Bond / Note 634,530 - - 634,530 Municipal Bond / Note 1,536,023 - - 1,536,023 Federal Agency Commercial Mortgage-Backed Security 6,983,775 - - 6,983,775 Federal Agency Bond / Note 2,266,362 - - 2,266,362 Corporate Note 11,943,094 - - 11,943,094 Certificate of Deposit 900,000 - - 900,000 Asset-Backed Security 5,349,105 - - 5,349,105 Sub-total Investments 103,259,025 - - 103,259,025 Market Value Adjustment:

Unrealized Gain/(Loss) at 09/30/2023 (584,093) - - (584,093) Total Investments 102,674,932 - - 102,674,932 Total Pooled Cash and Investments 124,332,540 $ 534,410 $ (2,882) $ 124,866,368$ TOTAL POOLED CASH AND INVESTMENTS 124,866,368$
I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 28, 2022. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures.

Jason P. Simpson February 20, 2024
City Manager Date

C I T Y O F L A K E E L S I N O R E

INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS
AS OF JANUARY 31, 2024

FUND NO FUND NAME AMOUNT
100 General 16,257,636 $
102 Measure Z 17,317,285
106 Affordable Housing In Lieu 777,624
107 Developer Agreement Revenue 256,871
108 American Rescue Plan 5,788,473
109 Road Maintenance and Rehabilitation (SB1) 978,729
110 State Gas Tax 404,323
112 Measure A 839,261
114 SB1186 CASP Education Program 63,209
116 City Hall-Public Works DIF 79,364
117 Community Center DIF 270,206
118 Lake Side Facility DIF 424,641
119 Animal Shelter DIF 66,224
121 T.R.I.P.-2014A 520
135 Lighting & Landscape Maintenance - Dist. No. 1 1,391,357 140 Geothermal 12,119
180 Launch Pointe 489,110
202 La Strada RBBD 24,716
203 E.L.S.P. - S.T.I.F. 3,485,332
205 Traffic Impact Fee 445,786
211 Storm Drain C.I.P. 3,225,088
221 Quimby Park C.I.P. 194,385
231 Library C.I.P. 1,404,320
232 City Fire Protection 761,190
300 Insurance Service 952,342
305 Information Systems Service 2,456,334
310 Support Service 24,819
320 Facilities Service 2,195,837
331 CFD 2006-1CC Summerly Improvement Area CC 92,762
332 CFD 2006-1 Improvement Area B, Summerly 82,009
334 CFD 2015-5 Trieste - Far West Industries 76,945
335 CFD 2003-2E Canyon Hills Improvement Area E 86,158
336 CFD 2006-1FF Summerly Improvement Area FF 97,226
337 CFD 2016-2 Canyon Hills 654,736
338 CFD 2006-1 IA-JJ Summerly Improvement Area 170,513
339 CFD 2006-1 IA-KK Summerly Improvement Area 137,676
340 CFD 2006-1 IA-EE Summerly Improvement Area 146,042
345 CFD 2003-2 Improvement Area D, Canyon Hills 982,463 346 CFD 2014-1 Southshore 70,443
347 CFD 2006-1 Improvement Area A, Summerly 120,938
350 CFD 98-1 Summerhill 475,534
351 CFD 2006-1 IA-II Summerly Improvement 162,232
354 CFD 90-2 Tuscany Hills 545,586
355 RAD 2021-1 Canyon Hills Improvement 370,687
357 CFD 2003-2 Canyon Hills Improvement Area 269,281

C I T Y O F L A K E E L S I N O R E

POOLED CASH AND INVESTMENTS BY FUND
AS OF JANUARY 31, 2024

FUND NO FUND NAME AMOUNT

C I T Y O F L A K E E L S I N O R E

POOLED CASH AND INVESTMENTS BY FUND
AS OF JANUARY 31, 2024
361 CFD 2022-2 Lakeshore Improvement 10,959
363 CFD 2022-3 Lakeside 844
364 CFD 2023-2 Coastal Mission Trail Improvement 20,812 366 CFD 2005-6 City Center Townhomes 141,442
368 CFD 2006-2 Viscaya 307,720
369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 917,106 370 CFD 2006-1 IA-HH Summerly Improvement 172,481
371 CFD 2005-1 Serenity 329,914
372 CFD 2005-2 Alberhill Ranch Improvement Area 785,899 374 CFD 2005-4 Lakeview Villas 3,037
375 CFD 2006-4 Clurman 126,650
377 CFD 2006-6 Tessara 42,779
378 CFD 2006-8 Running Deer Estates 57,081
384 CFD 2003-2 Area B Canyon Hills Improvement Area 981,160 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 937,820 386 CFD 2007-4 Mekenna Court 79,800
387 CFD 2007-5 Red Kite 58,019
388 CFD 2007-6 Holiday Inn Express 2,631
390 CFD 2003-2 Area C Canyon Hills Improvement Area 376,790 392 CFD 95-1 City Center 49,931
394 CFD 2005-5 (2012A) Wasson Canyon 140,478
395 CFD 2018-1 Wasson Canyon II Improvement Area 1,879
396 CFD 2018-2 Nichols Ranch Improvement Area 92,708
397 CFD 2018-3 Village at Lakeshore 169,300
500 Capital Improvement Plan 6,541,778
510 Successor To RDA Area I, II, & III 827,970
603 Endowment Trust - Carl Graves 62,291
604 Endowment Trust - Korn Memorial 34,823
605 Public Improvement Trust 1,773,370
606 Mobile Source Air Polution Reduction 75,257
608 Trust Deposit & Pre Paid Expense 1,570,414
617 Successor Agency Housing 34,951,818
620 Cost Recovery System 7,566,036
631 Lake Destratification Equipment Replacement 508,669 655 CFD 2015-1s Law, Fire, Paramedic Services 14,742
Total Pooled Cash & Investments 124,862,739$

MAXIMUM DIVERSIFICATION CURRENT

TYPES OF SECURITIES PERCENTAGE PERCENTAGE BALANCE
CAMP - Pooled Sweep Account Unlimited 0.19% 191,349 $
U.S. Treasury Bond / Note Unlimited 21.77% 22,477,966 $ Supra-National Agency Bond / Note 30% 0.61% 634,530 $
Municipal Bond / Note Unlimited 1.49% 1,536,023 $
Federal Agency Collaterized Mortgage Obligation 40% 6.76% 6,983,77 5$ Federal Agency Bond / Note Unlimited 2.19% (1) 2,266,362$ Corporate Note 30% 11.57% 11,943,094 $
Negotiable Certificates of Deposit 30% 0.87% 900,000 $
Asset-Backed Security / Collaterized Mortgage 20% 5.18% 5,349,105 $ LAIF (Local Agency Investment Funds) $150 Million 49.37% (2) 50,976,822$ TOTAL 100.00% 103,259 ,025$
Note:
(1) No more than 40% in any one federal agency. See CAMP Portfolio Statement for listing of agencies. (2) Investment in LAIF may not exceed $75 million in each agency.

C I T Y O F L A K E E L S I N O R E

SUMMARY OF POLICY LIMITATIONS
FOR THE MONTH ENDING JANUARY 31, 2024

Local Agency Investment Fund

January 4.012
December 3.929
November 3.843
October 3.670
September 3.534
August 3.434
LAIF Apportionment Rate(2): 4.00
LAIF Earnings Ratio(2): 0.00010932476863589
LAIF Administrative Cost(1)*: 0.29
PMIA Average Life(1): 230
LAIF Fair Value Factor(1): 0.993543131
PMIA Daily(1): 3.96
PMIA Quarter to Date(1): 3.81
Treasuries

58.88%Agencies

22.53%
Certificates of
Deposit/Bank Notes

8.98%
Time
Deposits

3.13%
Commercial
Paper

5.91%
Corporate
Bonds

0.37%
Loans

0.20%
Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) and interest earned on the Wildfire Fund loan pursuant to Public Utility Code 3288 (a). *The percentage of administrative cost equals the total administrative cost divided by the quarterly interest earnings. The law provides that administrative costs are not to exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rate on the last day of the fiscal year is below 1%, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fund for the subsequent fiscal year.

Source:
(1) State of California, Office of the Treasurer
(2) State of Calfiornia, Office of the Controller
PMIA Average Monthly
Effective Yields(1)
PMIA/LAIF Performance Report
as of 2/14/24
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 12/31/23
Chart does not include $2,112,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.

Pooled Money Investment Account
Monthly Portfolio Composition (1)
1/31/24
$165.8 billion

Yield Purchase Date Maturity Rate

4.012% Daily 24-Hour
Investment Beginning Balance Net Increase/(Decrease) Ending Balance Total Investments Held with
Local Agency Investment Fund: 43,522,208$ 7,454,614 $ 50,976,822 $ Note:

Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained.

C I T Y O F L A K E E L S I N O R E

LOCAL AGENCY INVESTMENT FUND

TRANSACTION SUMMARY
FOR THE MONTH ENDING JANUARY 31, 2024
CAMP
Investment Portfolio

For the Month Ending January 31, 2024Account Statement - Transaction Summary

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
116,772.96
1,253,766.61
(1,179,190.52)

0.00 $191,349.05
CAMP Pool
Unsettled Trades 0.00
477.89 Cash Dividends and Income
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
51,767,158.04
1,170,501.95
(1,113,414.15)
46,741.17
$51,870,987.01
CAMP Managed Account
Unsettled Trades 0.00
98,302.99 Cash Dividends and Income
January 31, 2024 December 31, 2023
Asset Summary
CAMP Pool 191,349.05 116,772.96
CAMP Managed Account 51,870,987.01 51,767,158.04
$52,062,336.06 $51,883,931.00 Total
Asset Allocation

0.37%
CAMP Pool

99.63%
CAMP Managed
Account

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For the Month Ending January 31, 2024Managed Account Summary Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dividend
Closing Market Value
Redemptions
Purchases
Opening Market Value
Closing Market Value
Change in Current Value
Unsettled Trades
Principal Acquisitions
Principal Dispositions
Maturities/Calls
Opening Market Value
Closing Market Value
Opening Market Value
Account Total
Total Cash Basis Earnings
Plus Net Realized Gains/Losses
Less Purchased Interest Related to Interest/Coupons
Interest/Dividends/Coupons Received
Earnings Reconciliation (Cash Basis) - Managed Account
Dividends
Less Beginning Accrued Interest
Less Beginning Amortized Value of Securities
Less Cost of New Purchases
Plus Coupons/Dividends Received
Plus Proceeds of Maturities/Calls/Principal Payments
Plus Proceeds from Sales
Ending Accrued Interest
Ending Amortized Value of Securities
Earnings Reconciliation (Accrual Basis)
Reconciling Transactions
Net Cash Contribution
Security Purchases
Principal Payments
Coupon/Interest/Dividend Income
Sale Proceeds
Maturities/Calls
Cash Transactions Summary- Managed Account
$116,772.96
1,253,766.61
(1,179,190.52)
$191,349.05
477.89
$51,767,158.04
(49,498.15)
(1,063,916.00)
1,170,501.95

0.00 46,741.17
$51,870,987.01
$51,883,931.00
$52,062,336.06
139,249.57
(4,478.48)
(36,468.10)
$98,302.99

0.00 1,071,014.44
132,151.13
49,498.15
(1,174,980.43)
(77,683.29)

0.00 Managed Account Total
52,436,031.88 52,627,380.93
240,417.99
1,071,014.44
49,498.15
132,151.13
(1,174,980.43)
(52,381,236.70)
(253,286.16)

0.00 240,417.99
2,250,204.96
49,498.15
132,151.13
(2,428,747.04)
(52,498,009.66)
(253,286.16)
477.89
Total Accrual Basis Earnings $119,610.30 $120,088.19
Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance
$0.00 Closing Cash Balance

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For the Month Ending January 31, 2024
Portfolio Summary and Statistics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Account Summary
Percent Par Value Market ValueDescription
U.S. Treasury Bond / Note 23,850,000.00 22,630,304.64 43.46 Supra-National Agency Bond / Note 635,000.00 616,686.60 1.18 Municipal Bond / Note 1,535,000.00 1,476,458.80 2.84 Federal Agency Commercial
Mortgage-Backed Security
7,117,846.96 7,078,985.95 13.60
Federal Agency Bond / Note 2,275,000.00 2,133,512.55 4.10 Corporate Note 11,965,000.00 11,676,188.69 22.43
Certificate of Deposit 900,000.00 907,860.36 1.74
Asset-Backed Security 5,349,837.24 5,350,989.42 10.28 Managed Account Sub-Total 53,627,684.20 51,870,987.01 99.63% Accrued Interest 240,417.99
Total Portfolio 53,627,684.20 52,111,405.00
CAMP Pool 191,349.05 191,349.05 0.37
Total Investments 53,819,033.25 52,302,754.05 100.00%
Unsettled Trades 0.00 0.00
Sector Allocation

10.28%
ABS

1.74%
Cert of Deposit

22.43%
Corporate Note

4.10%
Fed Agy Bond /
Note

13.60%
Federal Agency
Commercial
Mortgage-Backed
Security

0.37%
Joint Powers
Authority

2.84%
Muni Bond / Note

1.18%
Supra-National
Agency Bond / Note

43.46%
US TSY Bond / Note
0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years

3.36% 2.82%

15.36%

36.25%

22.91%

19.30%

0.00%
Maturity Distribution Characteristics
Yield to Maturity at Cost
Yield to Maturity at Market
Weighted Average Days to Maturity 1056

3.54%

4.33%

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For the Month Ending January 31, 2024
Managed Account Issuer Summary

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Credit Quality (S&P Ratings)

4.53%
A

3.11%
A+

6.62%
A-

3.64%
AA

62.84%
AA+

3.56%
AA-

11.48%
AAA

0.37%
AAAm

1.45%
BBB+

2.40%
NR
Issuer Summary
Percentof HoldingsIssuer
Market Value
222,757.43 0.43 ABBOTT LABORATORIES
451,686.05 0.87 AMAZON.COM INC
966,306.41 1.86 AMERICAN EXPRESS CO
395,019.60 0.76 AMERICAN HONDA FINANCE
740,178.48 1.42 APPLE INC
790,909.81 1.52 BANK OF AMERICA CO
448,790.45 0.86 BERKSHIRE HATHAWAY INC
228,849.95 0.44 BMW FINANCIAL SERVICES NA LLC
367,781.63 0.71 BRISTOL-MYERS SQUIBB CO
79,901.70 0.15 CALIFORNIA STATE UNIVERSITY
191,349.05 0.37 CAMP Pool
733,667.28 1.41 CAPITAL ONE FINANCIAL CORP
246,160.20 0.47 CARMAX AUTO OWNER TRUST
209,105.33 0.40 CATERPILLAR INC
98,511.00 0.19 CHAFFEY JOINT UNION HIGH SCHOOL DISTRICT 392,078.82 0.75 CHARLES SCHWAB
411,172.69 0.79 CHASE ISSURANCE
63,766.43 0.12 CINTAS CORPORATION NO. 2
778,422.00 1.50 CITIGROUP INC
382,768.50 0.74 DEERE & COMPANY
859,228.07 1.65 DISCOVER FINANCIAL SERVICES
1,482,009.15 2.84 FANNIE MAE
140,804.40 0.27 FEDERAL HOME LOAN BANKS
353,199.18 0.68 FIFTH THIRD AUTO TRUST
295,092.10 0.57 FLORIDA STATE BOARD OF ADMIN FIN CORP 129,460.60 0.25 FORD CREDIT AUTO OWNER TRUST
7,589,684.95 14.57 FREDDIE MAC
221,067.23 0.42 GENERAL DYNAMICS CORP
329,986.11 0.63 GM FINANCIAL CONSUMER AUTOMOBILE TRUST 396,936.00 0.76 GOLDMAN SACHS GROUP INC
169,571.63 0.33 HARLEY-DAVIDSON MOTORCYCLE TRUST
24,407.63 0.05 HOME DEPOT INC

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For the Month Ending January 31, 2024Managed Account Issuer Summary

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Percentof HoldingsIssuer
Market Value
473,159.37 0.91 HONDA AUTO RECEIVABLES
67,830.55 0.13 HYUNDAI AUTO RECEIVABLES
222,804.00 0.43 IBM CORP
616,686.60 1.18 INTER-AMERICAN DEVELOPMENT BANK
479,667.59 0.92 JP MORGAN CHASE & CO
60,048.00 0.12 LOCKHEED MARTIN CORP
132,008.80 0.25 LOS ANGELES COMMUNITY COLLEGE DISTRICT 731,166.75 1.40 MICROSOFT CORP
398,493.60 0.77 MORGAN STANLEY
736,748.50 1.42 NATIONAL AUSTRALIA BANK LTD
384,891.15 0.74 NATIONAL RURAL UTILITIES CO FINANCE CORP 309,656.75 0.59 NEW YORK ST URBAN DEVELOPMENT CORP
256,954.08 0.49 NISSAN AUTO RECEIVABLES
450,826.65 0.87 NORDEA BANK ABP
169,439.55 0.33 PACCAR FINANCIAL CORP
398,624.55 0.77 ROCHE HOLDINGS INC
123,038.50 0.24 SAN JUAN UNIFIED SCHOOL DISTRICT
203,922.00 0.39 STATE OF CALIFORNIA
59,171.40 0.11 STATE OF CONNECTICUT
94,370.00 0.18 STATE OF MINNESOTA
37,395.92 0.07 TARGET CORP
85,927.35 0.17 TEXAS INSTRUMENTS INC
650,651.14 1.25 THE BANK OF NEW YORK MELLON CORPORATION 392,135.60 0.75 THE WALT DISNEY CORPORATION
457,033.71 0.88 TORONTO-DOMINION BANK
738,022.55 1.42 TOYOTA MOTOR CORP
22,630,304.64 43.46 UNITED STATES TREASURY
208,744.65 0.40 UNITEDHEALTH GROUP INC
80,786.55 0.16 UNIVERSITY OF CALIFORNIA
221,195.70 0.42 USAA CAPITAL CORP
$52,062,336.06 Total 100.00%

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For the Month Ending January 31, 2024Managed Account Detail of Securities Held

US TREASURY NOTES
DTD 12/31/2019 1.750% 12/31/2024
48,640.63 50,715.27 76.92 53,441.41 08/07/2008/05/20AaaAA+ 50,000.00 912828YY0 0.18

US TREASURY NOTES
DTD 06/30/2020 0.250% 06/30/2025
141,421.88 149,032.50 32.97 147,093.75 04/05/2104/01/21AaaAA+ 150,000.00 912828ZW3 0.72

US TREASURY NOTES
DTD 04/30/2021 0.750% 04/30/2026
69,585.94 73,111.40 143.72 71,458.01 02/14/2202/10/22AaaAA+ 75,000.00 91282CBW0 1.92

US TREASURY NOTES
DTD 04/30/2021 0.750% 04/30/2026
719,054.69 765,176.87 1,485.06 756,109.37 01/06/2201/04/22AaaAA+ 775,000.00 91282CBW0 1.33

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
183,687.50 186,570.31 3.43 179,007.81 09/06/2209/01/22AaaAA+ 200,000.00 91282CCP4 3.53

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
229,609.38 236,023.09 4.29 226,250.00 05/05/2205/03/22AaaAA+ 250,000.00 91282CCP4 3.03

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
688,828.12 712,777.65 12.88 690,468.75 08/04/2208/01/22AaaAA+ 750,000.00 91282CCP4 2.74

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
734,750.00 758,467.09 13.74 732,343.75 07/08/2207/05/22AaaAA+ 800,000.00 91282CCP4 2.84

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
826,593.75 851,346.33 15.45 819,035.16 06/06/2206/02/22AaaAA+ 900,000.00 91282CCP4 2.94

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
826,593.75 849,323.26 15.45 819,562.50 08/15/2208/08/22AaaAA+ 900,000.00 91282CCP4 3.04

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
236,640.62 234,885.28 1,071.43 228,144.53 11/04/2211/01/22AaaAA+ 250,000.00 912828U24 4.39

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
922,898.44 925,937.15 4,178.57 907,092.77 01/06/2301/04/23AaaAA+ 975,000.00 912828U24 3.96

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
1,987,781.25 1,996,761.37 9,000.00 1,954,066.41 12/07/2212/05/22AaaAA+ 2,100,000.00 912828U24 3.92

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
8,992,343.75 9,079,531.14 40,714.29 8,922,578.13 01/17/2301/13/23AaaAA+ 9,500,000.00 912828U24 3.72

Page 6 ends

For the Month Ending January 31, 2024Managed Account Detail of Securities Held

US TREASURY NOTES
DTD 04/30/2022 2.750% 04/30/2027
1,155,187.44 1,165,882.03 8,431.32 1,155,421.88 02/03/2301/31/23AaaAA+ 1,200,000.00 91282CEN7 3.70

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
360,234.38 364,555.51 28.33 362,329.10 05/05/2305/01/23AaaAA+ 375,000.00 91282CFB2 3.62

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
576,375.00 570,476.39 45.33 565,640.63 07/07/2307/03/23AaaAA+ 600,000.00 91282CFB2 4.30

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
768,500.00 757,570.82 60.44 746,531.25 03/06/2303/02/23AaaAA+ 800,000.00 91282CFB2 4.44

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
792,515.62 792,830.07 62.33 786,779.30 06/06/2306/02/23AaaAA+ 825,000.00 91282CFB2 3.97

US TREASURY NOTES
DTD 11/30/2022 3.875% 11/30/2027
1,172,062.50 1,170,587.18 7,837.34 1,170,501.95 01/05/2401/02/24AaaAA+ 1,175,000.00 91282CFZ9 3.98

US TREASURY NOTES
DTD 11/30/2022 3.875% 11/30/2027
1,197,000.00 1,184,742.39 8,004.10 1,184,109.38 12/05/2312/01/23AaaAA+ 1,200,000.00 91282CFZ9 4.24 81,237.39 22,630,304.64 22,876,303.10 3.61 22,477,965.84 23,850,000.00 Security Type Sub-Total Supra-National Agency Bond / Note

INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
616,686.60 634,899.25 1,128.89 634,530.10 09/23/2109/15/21AaaAAA 635,000.00 4581X0DZ8 0.52 1,128.89 616,686.60 634,899.25 0.52 634,530.10 635,000.00 Security Type Sub-Total Municipal Bond / Note

CT ST TXBL GO BONDS
DTD 06/11/2020 1.998% 07/01/2024
59,171.40 60,000.00 99.90 60,000.00 06/11/2005/29/20Aa3AA- 60,000.00 20772KJW0 2.00

CHAFFEY UHSD, CA TXBL GO BONDS
DTD 12/05/2019 2.101% 08/01/2024
98,511.00 100,000.00 1,050.50 100,000.00 12/05/1911/06/19Aa1AA- 100,000.00 157411TK5 2.10

NY ST URBAN DEV CORP TXBL REV BONDS
DTD 12/23/2020 0.870% 03/15/2025
309,656.75 325,000.00 1,068.17 325,000.00 12/23/2012/16/20NRNR 325,000.00 650036DT0 0.87

Page 7 ends

For the Month Ending January 31, 2024Managed Account Detail of Securities Held

UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
80,786.55 85,000.00 158.45 85,000.00 07/16/2007/10/20Aa2AA 85,000.00 91412HGE7 0.88

FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
61,874.15 65,135.58 68.14 65,459.55 09/16/2009/03/20Aa3AA 65,000.00 341271AD6 1.11

FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
80,912.35 85,166.26 89.11 85,563.55 09/16/2009/03/20Aa3AA 85,000.00 341271AD6 1.12

FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
152,305.60 160,000.00 167.73 160,000.00 09/16/2009/03/20Aa3AA 160,000.00 341271AD6 1.26

MN ST TXBL GO BONDS
DTD 08/25/2020 0.630% 08/01/2025
94,370.00 100,000.00 315.00 100,000.00 08/25/2008/11/20AaaAAA 100,000.00 60412AVJ9 0.63

SAN JUAN USD, CA TXBL GO BONDS
DTD 10/29/2020 0.852% 08/01/2025
123,038.50 130,000.00 553.80 130,000.00 10/29/2010/16/20Aa2NR 130,000.00 798306WP7 0.85

LOS ANGELES CCD, CA TXBL GO BONDS
DTD 11/10/2020 0.773% 08/01/2025
132,008.80 140,000.00 541.10 140,000.00 11/10/2010/30/20AaaAA+ 140,000.00 54438CYK2 0.77

CA ST UNIV TXBL REV BONDS
DTD 07/29/2021 0.862% 11/01/2025
79,901.70 85,000.00 183.18 85,000.00 07/29/2107/09/21Aa2AA- 85,000.00 13077DQD7 0.86

CA ST MUNICIPAL BONDS
DTD 03/15/2023 4.846% 03/01/2027
203,922.00 200,000.00 4,038.33 200,000.00 03/15/2303/09/23Aa2AA- 200,000.00 13063D3N6 4.85 8,333.41 1,476,458.80 1,535,301.84 1.58 1,536,023.10 1,535,000.00 Security Type Sub-Total Federal Agency Commercial Mortgage-Backed Security
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
241,445.83 248,160.00 627.70 258,180.90 03/25/2003/19/20AaaAA+ 245,996.40 3137BGK24 1.95 FHMS K054 A2
DTD 04/20/2016 2.745% 01/01/2026
265,497.60 266,973.11 629.06 263,613.28 04/14/2304/11/23AaaAA+ 275,000.00 3137BNGT5 4.37 FHMS K058 A2
DTD 11/09/2016 2.653% 08/01/2026
525,849.79 532,500.36 1,215.96 526,839.84 04/12/2304/06/23AaaAA+ 550,000.00 3137BSP72 4.02 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
367,929.60 369,409.34 1,056.31 367,063.00 05/24/2305/19/23AaaAA+ 378,720.49 3137BTUM1 4.31

Page 8 ends

For the Month Ending January 31, 2024Managed Account Detail of Securities Held

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par
Federal Agency Commercial Mortgage-Backed Security
FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
531,628.48 522,840.02 1,477.67 518,804.69 08/18/2308/16/23AaaAA+ 550,000.00 3137BXQY1 4.98

FHLMC MULTIFAMILY STRUCTURED P
DTD 07/01/2017 3.243% 04/01/2027
531,290.50 530,888.58 1,486.38 527,033.20 06/13/2306/08/23AaaAA+ 550,000.00 3137F1G44 4.44 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
403,660.41 399,537.90 1,617.48 399,537.81 12/14/2312/06/23AaaAA+ 399,541.01 3137HBC69 4.86 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
440,697.66 438,579.29 1,745.95 438,578.12 07/27/2307/19/23AaaAA+ 438,589.06 3137HAD45 4.78 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
557,391.69 554,887.83 2,208.71 555,493.40 07/20/2307/13/23AaaAA+ 550,000.00 3137HACX2 4.59 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
545,624.05 541,635.70 1,920.42 540,675.78 07/31/2307/18/23AaaAA+ 550,000.00 3136BQDE6 4.58 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
506,434.29 489,610.89 1,975.00 489,032.00 10/19/2310/11/23AaaAA+ 500,000.00 3137HAQ74 5.26 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
807,847.71 788,988.51 3,100.00 788,165.60 09/14/2309/07/23AaaAA+ 800,000.00 3137HAMH6 4.99 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
381,413.23 363,591.81 1,515.63 363,043.88 10/31/2310/25/23AaaAA+ 375,000.00 3137HAST4 5.60 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
507,480.72 494,391.73 2,000.00 494,023.50 09/28/2309/20/23AaaAA+ 500,000.00 3137HAMS2 5.07 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
184,748.82 179,498.04 760.35 179,479.62 11/21/2311/14/23AaaAA+ 180,000.00 3137HB3D4 5.14 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
280,045.57 274,231.89 1,113.75 274,209.93 12/07/2311/28/23AaaAA+ 275,000.00 3137HB3G7 4.93 24,450.37 7,078,985.95 6,995,725.00 4.69 6,983,774.55 7,117,846.96 Security Type Sub-Total Federal Agency Bond / Note

Page 9 ends

For the Month Ending January 31, 2024Managed Account Detail of Securities Held

FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
400,609.25 424,378.05 44.27 422,883.50 07/23/2007/21/20AaaAA+ 425,000.00 3137EAEU9 0.48

FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
328,769.00 349,487.23 568.75 348,362.00 08/27/2008/25/20AaaAA+ 350,000.00 3135G05X7 0.47

FEDERAL HOME LOAN BANK NOTES
DTD 09/11/2020 0.375% 09/04/2025
140,804.40 149,856.27 229.69 149,550.00 09/11/2009/10/20AaaAA+ 150,000.00 3130AK5E2 0.44

FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
655,713.80 699,306.91 933.33 697,893.00 09/25/2009/23/20AaaAA+ 700,000.00 3137EAEX3 0.44

FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
607,616.10 649,175.77 758.33 647,673.00 11/12/2011/09/20AaaAA+ 650,000.00 3135G06G3 0.57 2,534.37 2,133,512.55 2,272,204.23 0.49 2,266,361.50 2,275,000.00 Security Type Sub-Total Corporate Note

CHARLES SCHWAB CORP NOTES
(CALLABLE)
DTD 03/18/2021 0.750% 03/18/2024
104,357.82 104,997.80 290.94 104,947.50 03/18/2103/16/21A2A- 105,000.00 808513BN4 0.77

BANK OF NY MELLON CORP NOTES
(CALLABLE)
DTD 04/26/2021 0.500% 04/26/2024
207,661.86 209,982.57 277.08 209,775.30 04/26/2104/19/21A1A 210,000.00 06406RAS6 0.54

MORGAN STANLEY CORP NOTES
DTD 04/28/2014 3.875% 04/29/2024
398,493.60 401,157.64 3,961.11 422,916.00 07/23/1907/19/19A1A- 400,000.00 61746BDQ6 2.59

AMERICAN HONDA FINANCE CORP NOTE
DTD 06/27/2019 2.400% 06/27/2024
395,019.60 399,838.78 906.67 398,016.00 07/15/1907/11/19A3A- 400,000.00 02665WCZ2 2.51

GOLDMAN SACHS GROUP INC (CALLABLE)
BONDS
DTD 07/08/2014 3.850% 07/08/2024
396,936.00 400,720.34 983.89 418,632.00 07/11/1907/08/19A2BBB+ 400,000.00 38141EC23 2.84

BMW US CAPITAL LLC CORPORATE NOTES
DTD 08/12/2021 0.750% 08/12/2024
68,266.45 69,998.89 246.46 69,993.70 08/12/2108/09/21A2A 70,000.00 05565EBU8 0.75

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For the Month Ending January 31, 2024Managed Account Detail of Securities Held

WALT DISNEY COMPANY/THE (CALLABLE)
DTD 09/06/2019 1.750% 08/30/2024
392,135.60 399,810.80 2,936.11 398,368.00 09/06/1909/03/19A2A- 400,000.00 254687FK7 1.84

PACCAR FINANCIAL CORP CORPORATE
NOTES
DTD 02/06/2020 1.800% 02/06/2025
169,439.55 176,876.21 1,531.25 182,894.25 10/29/2010/22/20A1A+ 175,000.00 69371RQ66 0.73

AMERICAN EXPRESS CO CORP NOTES
(CALLABLE
DTD 03/04/2022 2.250% 03/04/2025
77,442.80 79,970.73 735.00 79,919.20 03/04/2203/01/22A2BBB+ 80,000.00 025816CQ0 2.29

ROCHE HOLDINGS INC (CALLABLE)

CORPORATE
DTD 03/10/2022 2.132% 03/10/2025
398,624.55 410,000.00 3,423.64 410,000.00 03/10/2203/03/22Aa2AA 410,000.00 771196BT8 2.13

HOME DEPOT INC (CALLABLE) CORPORATE
NOTE
DTD 03/28/2022 2.700% 04/15/2025
24,407.63 24,982.76 198.75 24,956.25 03/28/2203/24/22A2A 25,000.00 437076CM2 2.76 CINTAS CORPORATION NO. 2 CORP NOTE
(CALL
DTD 05/03/2022 3.450% 05/01/2025
63,766.43 64,994.05 560.63 64,985.70 05/03/2204/26/22A3A- 65,000.00 17252MAP5 3.46

USAA CAPITAL CORP CORPORATE NOTES
DTD 05/26/2022 3.375% 05/01/2025
221,195.70 224,687.43 1,898.44 224,264.25 05/26/2205/23/22Aa1AA 225,000.00 90327QD89 3.49

GENERAL DYNAMICS CORP (CALLABLE)

CORP NO
DTD 05/11/2018 3.500% 05/15/2025
221,067.23 231,917.85 1,662.50 252,247.50 10/20/2010/16/20A3A- 225,000.00 369550BG2 0.80

JPMORGAN CHASE & CO (CALLABLE) CORP
NOTE
DTD 06/01/2021 0.824% 06/01/2025
309,748.01 315,000.00 432.60 315,000.00 06/01/2105/24/21A1A- 315,000.00 46647PCH7 0.82

AMAZON INC CORP NOTES (CALLABLE)
DTD 06/03/2020 0.800% 06/03/2025
451,686.05 474,937.73 612.22 474,767.25 06/05/2006/03/20A1AA 475,000.00 023135BQ8 0.81

NATIONAL AUSTRALIA BK/NY CORPORATE
NOTES
DTD 06/09/2022 3.500% 06/09/2025
245,520.50 250,000.00 1,263.89 250,000.00 06/09/2205/31/22Aa3AA- 250,000.00 63254ABD9 3.50

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For the Month Ending January 31, 2024Managed Account Detail of Securities Held

NATIONAL RURAL UTIL COOP CORPORATE
NOTES
DTD 05/04/2022 3.450% 06/15/2025
48,959.40 49,994.07 220.42 49,986.50 05/04/2204/27/22A2A- 50,000.00 63743HFE7 3.46

IBM CORP CORPORATE NOTES
DTD 07/27/2022 4.000% 07/27/2025
222,804.00 225,000.00 100.00 225,000.00 07/27/2207/20/22A3A- 225,000.00 459200KS9 4.00

BANK OF AMERICA CORP NOTES
DTD 07/30/2015 3.875% 08/01/2025
221,553.45 234,662.10 4,359.38 256,918.50 08/20/2008/18/20A1A- 225,000.00 06051GFS3 0.93

ABBOTT LABORATORIES CORPORATE

NOTES (CAL
DTD 03/22/2017 3.875% 09/15/2025
222,757.43 234,542.56 3,293.75 257,845.50 09/28/2009/24/20Aa3AA- 225,000.00 002824BM1 0.86

BANK OF AMERICA CORP NOTES
(CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025
217,100.48 225,000.00 525.94 225,000.00 12/06/2112/01/21A1A- 225,000.00 06051GKE8 1.53

JPMORGAN CHASE & CO CORP NOTES
(CALLABLE
DTD 02/24/2022 2.595% 02/24/2026
169,919.58 175,000.00 1,980.49 175,000.00 02/24/2202/16/22A1A- 175,000.00 46647PCV6 2.60

UNITEDHEALTH GROUP INC (CALLABLE)
CORPOR
DTD 05/19/2021 1.150% 05/15/2026
208,744.65 224,820.80 546.25 224,608.50 05/19/2105/17/21A2A+ 225,000.00 91324PEC2 1.19

BMW US CAPITAL LLC (CALLABLE)

CORPORATE
DTD 08/12/2021 1.250% 08/12/2026
160,583.50 174,973.40 1,026.91 174,947.50 08/16/2108/12/21A2A 175,000.00 05565EBW4 1.26

CATERPILLAR FINL SERVICE CORPORATE
NOTES
DTD 01/10/2022 1.700% 01/08/2027
209,105.33 224,331.10 244.38 223,863.75 01/13/2201/11/22A2A 225,000.00 14913R2U0 1.81

TARGET CORP CORP NOTES (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
37,395.92 39,959.62 34.67 39,932.00 01/24/2201/19/22A2A 40,000.00 87612EBM7 1.99

BANK OF NY MELLON CORP (CALLABLE)
CORPOR
DTD 01/26/2022 2.050% 01/26/2027
442,989.28 474,369.84 135.24 473,945.50 01/28/2201/26/22A1A 475,000.00 06406RBA4 2.10

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For the Month Ending January 31, 2024Managed Account Detail of Securities Held

MICROSOFT CORP CORP NOTES (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
731,166.75 728,276.16 12,031.25 721,942.50 03/17/2303/14/23AaaAAA 750,000.00 594918BY9 4.36

AMERICAN EXPRESS CO CORP NOTES
(CALLABLE
DTD 03/04/2022 2.550% 03/04/2027
281,088.00 282,940.09 3,123.75 277,203.00 01/18/2301/13/23A2BBB+ 300,000.00 025816CS6 4.59

BERKSHIRE HATHAWAY CORP NOTES
(CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027
448,790.45 469,440.40 4,127.22 466,089.00 03/17/2203/15/22Aa2AA 475,000.00 084664CZ2 2.70

CHARLES SCHWAB CORP NOTES
(CALLABLE)
DTD 09/24/2021 3.300% 04/01/2027
287,721.00 288,384.51 3,300.00 284,925.00 02/22/2302/17/23A2A- 300,000.00 808513BW4 4.66

NATIONAL AUSTRALIA BK/NY CORPORATE
NOTES
DTD 06/09/2022 3.905% 06/09/2027
491,228.00 491,085.34 2,820.28 488,325.00 01/18/2301/13/23Aa3AA- 500,000.00 63254ABE7 4.50

APPLE INC (CALLABLE) BONDS
DTD 09/12/2017 2.900% 09/12/2027
740,178.48 748,559.82 8,677.85 741,062.75 01/23/2301/19/23AaaAA+ 775,000.00 037833DB3 3.94

TOYOTA MOTOR CREDIT CORP CORPORATE
NOTES
DTD 01/12/2023 4.625% 01/12/2028
377,454.38 376,028.43 915.36 376,282.50 02/10/2302/08/23A1A+ 375,000.00 89236TKQ7 4.55

NATIONAL RURAL UTIL COOP CORP NOTES
(CAL
DTD 02/07/2018 3.400% 02/07/2028
335,931.75 333,142.06 5,751.67 329,189.00 02/22/2302/17/23A1A- 350,000.00 637432NP6 4.76

TEXAS INSTRUMENTS INC CORP NOTE
(CALLABL
DTD 11/18/2022 4.600% 02/15/2028
85,927.35 86,732.63 1,802.94 87,043.40 05/18/2305/11/23Aa3A+ 85,000.00 882508BV5 4.04

BRISTOL-MYERS SQUIBB CO CORP NOTES
(CALL
DTD 07/15/2020 3.900% 02/20/2028
367,781.63 361,277.20 6,540.63 358,263.75 03/13/2303/09/23A2A 375,000.00 110122DE5 4.93

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For the Month Ending January 31, 2024Managed Account Detail of Securities Held

LOCKHEED MARTIN CORP NOTES
(CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
60,048.00 59,906.98 563.67 59,892.00 05/25/2305/23/23A2A- 60,000.00 539830BZ1 4.49

JOHN DEERE CAPITAL CORP CORPORATE
NOTES
DTD 07/14/2023 4.950% 07/14/2028
382,768.50 377,563.67 876.56 377,865.00 07/25/2307/21/23A2A 375,000.00 24422EXB0 4.78

CITIBANK NA CORP NOTES (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
778,422.00 746,493.96 14,749.29 746,280.00 10/04/2310/02/23Aa3A+ 750,000.00 17325FBB3 5.92 99,669.08 11,676,188.69 11,872,358.32 3.12 11,943,093.55 11,965,000.00 Security Type Sub-Total Certificate of Deposit

TORONTO DOMINION BANK NY CERT
DEPOS
DTD 10/31/2022 5.600% 10/27/2025
457,033.71 450,000.00 6,930.00 450,000.00 10/31/2210/27/22A1A 450,000.00 89115B6K1 5.58

NORDEA BANK ABP NEW YORK CERT DEPOS
DTD 11/03/2022 5.530% 11/03/2025
450,826.65 450,000.00 6,083.00 450,000.00 11/03/2211/02/22Aa3AA- 450,000.00 65558UYF3 5.53 13,013.00 907,860.36 900,000.00 5.56 900,000.00 900,000.00 Security Type Sub-Total Asset-Backed Security
HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
18,111.80 18,335.40 3.10 18,334.18 04/28/2104/20/21NRAAA 18,336.11 44933LAC7 0.38 NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
117,960.53 120,291.35 17.64 120,290.11 06/23/2106/15/21AaaAAA 120,292.16 65480BAC1 0.33 TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
116,441.33 118,763.75 13.72 118,756.13 06/14/2106/08/21NRAAA 118,768.93 89190GAC1 0.26 HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
62,704.24 64,452.45 15.76 64,445.31 11/24/2111/16/21AaaNR 64,458.89 43815GAC3 0.89 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
38,806.77 39,609.54 9.16 39,604.61 04/21/2104/13/21NRAAA 39,613.16 14314QAC8 0.52

Page 14 ends

For the Month Ending January 31, 2024Managed Account Detail of Securities Held

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par
Asset-Backed Security
HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
49,718.75 50,980.39 16.77 50,974.79 11/17/2111/09/21NRAAA 50,986.18 44935FAD6 0.75 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
189,486.96 194,977.97 50.27 194,958.25 09/27/2109/20/21AaaAAA 195,000.00 254683CP8 0.58 GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
55,549.12 57,381.02 16.26 57,380.34 10/21/2110/13/21AaaAAA 57,381.81 362554AC1 0.68 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
207,353.43 209,996.65 370.53 209,995.04 07/20/2207/12/22NRAAA 210,000.00 14318MAD1 3.97 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
138,993.55 139,979.44 277.51 139,971.03 09/28/2209/20/22AaaAAA 140,000.00 65480JAC4 4.46 GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
274,436.99 274,967.08 552.29 274,954.93 10/12/2210/04/22NRAAA 275,000.00 36265QAD8 4.82 TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
244,126.84 244,999.91 504.16 244,999.88 01/30/2301/24/23NRAAA 245,000.00 891940AC2 4.63 COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
245,235.13 244,971.24 539.00 244,961.56 11/03/2210/27/22NRAAA 245,000.00 14041NGB1 4.95 HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
169,571.63 169,986.22 381.56 169,982.88 02/23/2302/13/23AaaNR 170,000.00 41285JAD0 5.05 FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
129,460.60 129,988.78 268.67 129,986.44 03/31/2303/28/23NRAAA 130,000.00 344928AD8 4.65 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
323,708.38 319,940.57 625.16 319,934.02 08/22/2308/15/23NRAAA 320,000.00 43815QAC1 5.42 DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
317,074.11 319,984.49 612.98 319,981.44 04/11/2304/04/23AaaNR 320,000.00 254683CY9 4.31 BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
170,223.57 169,966.44 361.91 169,961.51 06/16/2306/08/23NRAAA 170,000.00 05522RDG0 4.79 AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
190,618.98 189,985.33 411.24 189,983.15 06/14/2306/07/23NRAAA 190,000.00 02582JJZ4 4.87

Page 15 ends

For the Month Ending January 31, 2024Managed Account Detail of Securities Held

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par
Asset-Backed Security
COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
488,432.15 489,903.28 962.58 489,887.64 05/24/2305/17/23NRAAA 490,000.00 14041NGD7 4.43 DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
352,667.00 349,958.40 766.89 349,952.72 06/28/2306/21/23AaaAAA 350,000.00 254683CZ6 4.93 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
86,746.75 84,985.69 133.88 84,985.03 11/08/2311/01/23AaaNR 85,000.00 438123AC5 5.67 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
353,199.18 349,980.23 860.22 349,978.30 08/23/2308/15/23AaaAAA 350,000.00 31680EAD3 5.53 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
411,172.69 404,895.26 928.80 404,887.73 09/15/2309/07/23NRAAA 405,000.00 161571HT4 5.17 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
417,156.63 409,982.86 953.02 409,981.67 09/19/2309/12/23NRAAA 410,000.00 02582JKD1 5.23 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
182,032.31 179,976.40 398.40 179,975.83 12/14/2312/07/23AaaNR 180,000.00 05522RDH8 4.98 10,051.48 5,350,989.42 5,349,240.14 4.36 5,349,104.52 5,349,837.24 Security Type Sub-Total 53,627,684.20 52,090,853.16 3.54 240,417.99 52,436,031.88 51,870,987.01 Managed Account Sub-Total Joint Powers Authority
CAMP Pool 191,349.05 191,349.05 0.00 191,349.05 NRAAAm 191,349.05 191,349.05 191,349.05 0.00 191,349.05 191,349.05 Liquid Sub-Total $53,819,033.25 $52,282,202.21 $240,417.99 $52,627,380.93 $52,062,336.06 3.54% $52,302,754.05
$240,417.99
Total Investments
Accrued Interest
Securities Sub-Total

Page 16 ends

For the Month Ending January 31, 2024Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
U.S. Treasury Bond / Note
(2,074.64)(4,800.78) 48,640.63 97.28 WELLS_F 50,000.00 912828YY0US TREASURY NOTES DTD 12/31/2019 1.750% 12/31/2024

4.82 0.91
(7,610.62)(5,671.87) 141,421.88 94.28 GOLDMAN 150,000.00 912828ZW3US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025

4.47 1.41
(3,525.46)(1,872.07) 69,585.94 92.78 BMO 75,000.00 91282CBW0US TREASURY NOTES DTD 04/30/2021 0.750% 04/30/2026

4.15 2.23
(46,122.18)(37,054.68) 719,054.69 92.78 CITIGRP 775,000.00 91282CBW0US TREASURY NOTES DTD 04/30/2021 0.750% 04/30/2026

4.15 2.23
(2,882.81) 4,679.69 183,687.50 91.84 BMO 200,000.00 91282CCP4US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026

4.09 2.48
(6,413.71) 3,359.38 229,609.38 91.84 HSBC 250,000.00 91282CCP4US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026

4.09 2.48
(23,949.53)(1,640.63) 688,828.12 91.84 BMO 750,000.00 91282CCP4US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026

4.09 2.48
(23,717.09) 2,406.25 734,750.00 91.84 HSBC 800,000.00 91282CCP4US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026

4.09 2.48
(24,752.58) 7,558.59 826,593.75 91.84 MERRILL 900,000.00 91282CCP4US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026

4.09 2.48
(22,729.51) 7,031.25 826,593.75 91.84 BMO 900,000.00 91282CCP4US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026

4.09 2.48
1,755.34 8,496.09 236,640.62 94.66 BMO 250,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026

4.04 2.71
(3,038.71) 15,805.67 922,898.44 94.66 BMO 975,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026

4.04 2.71
(8,980.12) 33,714.84 1,987,781.25 94.66 HSBC 2,100,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026

4.04 2.71
(87,187.39) 69,765.62 8,992,343.75 94.66 JPM_CHA 9,500,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026

4.04 2.71
(10,694.59)(234.44) 1,155,187.44 96.27 BNP_PAR 1,200,000.00 91282CEN7US TREASURY NOTES DTD 04/30/2022 2.750% 04/30/2027

3.99 3.10
(4,321.13)(2,094.72) 360,234.38 96.06 MORGAN_ 375,000.00 91282CFB2US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027

3.97 3.36
5,898.61 10,734.37 576,375.00 96.06 CITIGRP 600,000.00 91282CFB2US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027

3.97 3.36

Page 17 ends

For the Month Ending January 31, 2024Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
U.S. Treasury Bond / Note
10,929.18 21,968.75 768,500.00 96.06 BMO 800,000.00 91282CFB2US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027

3.97 3.36
(314.45) 5,736.32 792,515.62 96.06 HSBC 825,000.00 91282CFB2US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027

3.97 3.36
1,475.32 1,560.55 1,172,062.50 99.75 CITIGRP 1,175,000.00 91282CFZ9US TREASURY NOTES DTD 11/30/2022 3.875% 11/30/2027

3.94 3.57
12,257.61 12,890.62 1,197,000.00 99.75 HSBC 1,200,000.00 91282CFZ9US TREASURY NOTES DTD 11/30/2022 3.875% 11/30/2027

3.94 3.57
152,338.80 4.04 (245,998.46) 22,630,304.64 23,850,000.00 Security Type Sub-Total 2.83 Supra-National Agency Bond / Note
(18,212.65)(17,843.50) 616,686.60 97.12 JPM_CHA 635,000.00 4581X0DZ8INTER-AMERICAN DEVEL BK NOTES DTD 09/23/2021 0.500% 09/23/2024

5.09 0.65
(17,843.50) 5.09 (18,212.65) 616,686.60 635,000.00 Security Type Sub-Total 0.65 Municipal Bond / Note
(828.60)(828.60) 59,171.40 98.62 SIEBERT 60,000.00 20772KJW0CT ST TXBL GO BONDS DTD 06/11/2020 1.998% 07/01/2024

5.36 0.42
(1,489.00)(1,489.00) 98,511.00 98.51 RBC 100,000.00 157411TK5CHAFFEY UHSD, CA TXBL GO BONDS DTD 12/05/2019 2.101% 08/01/2024

5.14 0.50
(15,343.25)(15,343.25) 309,656.75 95.28 WELLS_F 325,000.00 650036DT0NY ST URBAN DEV CORP TXBL REV BONDS DTD 12/23/2020 0.870% 03/15/2025

5.25 1.12
(4,213.45)(4,213.45) 80,786.55 95.04 04/15/25JPM_CHA 85,000.00 91412HGE7UNIV OF CAL TXBL REV BONDS DTD 07/16/2020 0.883% 05/15/2025

4.89 1.20
(3,261.43)(3,585.40) 61,874.15 95.19 MERRILL 65,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025

4.80 1.41
(4,253.91)(4,651.20) 80,912.35 95.19 MERRILL 85,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025

4.80 1.41
(7,694.40)(7,694.40) 152,305.60 95.19 MERRILL 160,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025

4.80 1.41
(5,630.00)(5,630.00) 94,370.00 94.37 MORGAN_ 100,000.00 60412AVJ9MN ST TXBL GO BONDS DTD 08/25/2020 0.630% 08/01/2025

4.55 1.49

Page 18 ends

For the Month Ending January 31, 2024Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Municipal Bond / Note
(6,961.50)(6,961.50) 123,038.50 94.65 KEYBANC 130,000.00 798306WP7SAN JUAN USD, CA TXBL GO BONDS DTD 10/29/2020 0.852% 08/01/2025

4.58 1.49
(7,991.20)(7,991.20) 132,008.80 94.29 MERRILL 140,000.00 54438CYK2LOS ANGELES CCD, CA TXBL GO BONDS DTD 11/10/2020 0.773% 08/01/2025

4.75 1.49
(5,098.30)(5,098.30) 79,901.70 94.00 JPM_CHA 85,000.00 13077DQD7CA ST UNIV TXBL REV BONDS DTD 07/29/2021 0.862% 11/01/2025

4.46 1.74
3,922.00 3,922.00 203,922.00 101.96 WELLS_F 200,000.00 13063D3N6CA ST MUNICIPAL BONDS DTD 03/15/2023 4.846% 03/01/2027

4.16 2.85
(59,564.30) 4.80 (58,843.04) 1,476,458.80 1,535,000.00 Security Type Sub-Total 1.47 Federal Agency Commercial Mortgage-Backed Security
(6,714.17)(16,735.07) 241,445.83 98.15 CITIGRP 245,996.40 3137BGK24FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024

5.33 0.80
(1,475.51) 1,884.32 265,497.60 96.54 BAIRD 275,000.00 3137BNGT5FHMS K054 A2 DTD 04/20/2016 2.745% 01/01/2026

4.63 1.76
(6,650.57)(990.05) 525,849.79 95.61 BREAN 550,000.00 3137BSP72FHMS K058 A2 DTD 11/09/2016 2.653% 08/01/2026

4.51 2.37
(1,479.74) 866.60 367,929.60 97.15 CITIGRP 378,720.49 3137BTUM1FHMS K061 A2 DTD 01/30/2017 3.347% 11/01/2026

4.45 2.48
8,788.46 12,823.79 531,628.48 96.66 MORGAN_ 550,000.00 3137BXQY1FHMS K064 A2 DTD 05/15/2017 3.224% 03/01/2027

4.38 2.77
401.92 4,257.30 531,290.50 96.60 CITIGRP 550,000.00 3137F1G44FHLMC MULTIFAMILY STRUCTURED P DTD 07/01/2017 3.243% 04/01/2027

4.39 2.91
4,122.51 4,122.60 403,660.41 101.03 JPM_CHA 399,541.01 3137HBC69FHMS KJ48 A1 DTD 12/01/2023 4.858% 05/01/2028

4.59 3.44
2,118.37 2,119.54 440,697.66 100.48 JPM_CHA 438,589.06 3137HAD45FHMS KJ46 A1 DTD 07/01/2023 4.777% 06/01/2028

4.65 3.02
2,503.86 1,898.29 557,391.69 101.34 JPM_CHA 550,000.00 3137HACX2FHMS K505 A2 DTD 07/01/2023 4.819% 06/01/2028

4.48 3.79
3,988.35 4,948.27 545,624.05 99.20 JPM_CHA 550,000.00 3136BQDE6FNA 2023-M6 A2 DTD 07/01/2023 4.190% 07/01/2028

4.39 3.95
16,823.40 17,402.29 506,434.29 101.29 BMO 500,000.00 3137HAQ74FHMS K508 A2 DTD 10/01/2023 4.740% 08/01/2028

4.42 3.95

Page 19 ends

For the Month Ending January 31, 2024Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Federal Agency Commercial Mortgage-Backed Security
18,859.20 19,682.11 807,847.71 100.98 WELLS_F 800,000.00 3137HAMH6FHMS K506 A2 DTD 09/01/2023 4.650% 08/01/2028

4.41 3.93
17,821.42 18,369.35 381,413.23 101.71 MORGAN_ 375,000.00 3137HAST4FHMS K509 A2 DTD 10/01/2023 4.850% 09/01/2028

4.44 4.02
13,088.99 13,457.22 507,480.72 101.50 MERRILL 500,000.00 3137HAMS2FHMS K507 A2 DTD 09/01/2023 4.800% 09/01/2028

4.44 3.98
5,250.78 5,269.20 184,748.82 102.64 JPM_CHA 180,000.00 3137HB3D4FHMS K510 A2 DTD 11/01/2023 5.069% 10/01/2028

4.44 4.04
5,813.68 5,835.64 280,045.57 101.83 MERRILL 275,000.00 3137HB3G7FHMS K511 A2 DTD 12/01/2023 4.860% 10/01/2028

4.42 4.08
95,211.40 4.49 83,260.95 7,078,985.95 7,117,846.96 Security Type Sub-Total 3.31 Federal Agency Bond / Note
(23,768.80)(22,274.25) 400,609.25 94.26 WELLS_F 425,000.00 3137EAEU9FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025

4.44 1.47
(20,718.23)(19,593.00) 328,769.00 93.93 BARCLAY 350,000.00 3135G05X7FANNIE MAE NOTES DTD 08/27/2020 0.375% 08/25/2025

4.42 1.56
(9,051.87)(8,745.60) 140,804.40 93.87 WELLS_F 150,000.00 3130AK5E2FEDERAL HOME LOAN BANK NOTES DTD 09/11/2020 0.375% 09/04/2025

4.40 1.59
(43,593.11)(42,179.20) 655,713.80 93.67 CITIGRP 700,000.00 3137EAEX3FREDDIE MAC NOTES DTD 09/25/2020 0.375% 09/23/2025

4.40 1.64
(41,559.67)(40,056.90) 607,616.10 93.48 BARCLAY 650,000.00 3135G06G3FANNIE MAE NOTES DTD 11/12/2020 0.500% 11/07/2025

4.37 1.76
(132,848.95) 4.40 (138,691.68) 2,133,512.55 2,275,000.00 Security Type Sub-Total 1.63 Corporate Note
(639.98)(589.68) 104,357.82 99.39 02/18/24CSFB 105,000.00 808513BN4CHARLES SCHWAB CORP NOTES (CALLABLE)
DTD 03/18/2021 0.750% 03/18/2024

5.36 0.05
(2,320.71)(2,113.44) 207,661.86 98.89 03/26/24JPM_CHA 210,000.00 06406RAS6BANK OF NY MELLON CORP NOTES (CALLABLE)
DTD 04/26/2021 0.500% 04/26/2024

5.21 0.16

Page 20 ends

For the Month Ending January 31, 2024Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Corporate Note
(2,664.04)(24,422.40) 398,493.60 99.62 WELLS_FA 400,000.00 61746BDQ6MORGAN STANLEY CORP NOTES DTD 04/28/2014 3.875% 04/29/2024

5.37 0.25
(4,819.18)(2,996.40) 395,019.60 98.75 WELLS_FA 400,000.00 02665WCZ2AMERICAN HONDA FINANCE CORP NOTE DTD 06/27/2019 2.400% 06/27/2024

5.51 0.41
(3,784.34)(21,696.00) 396,936.00 99.23 04/08/24SUSQ 400,000.00 38141EC23GOLDMAN SACHS GROUP INC (CALLABLE) BONDS
DTD 07/08/2014 3.850% 07/08/2024

5.63 0.19
(1,732.44)(1,727.25) 68,266.45 97.52 GOLDMAN 70,000.00 05565EBU8BMW US CAPITAL LLC CORPORATE NOTES DTD 08/12/2021 0.750% 08/12/2024

5.53 0.53
(7,675.20)(6,232.40) 392,135.60 98.03 07/30/24JPM_CHAS 400,000.00 254687FK7WALT DISNEY COMPANY/THE (CALLABLE) DTD 09/06/2019 1.750% 08/30/2024

5.21 0.50
(7,436.66)(13,454.70) 169,439.55 96.82 MERRILL 175,000.00 69371RQ66PACCAR FINANCIAL CORP CORPORATE NOTES
DTD 02/06/2020 1.800% 02/06/2025

5.05 1.00
(2,527.93)(2,476.40) 77,442.80 96.80 02/01/25BARCLAY 80,000.00 025816CQ0AMERICAN EXPRESS CO CORP NOTES (CALLABLE
DTD 03/04/2022 2.250% 03/04/2025

5.29 0.99
(11,375.45)(11,375.45) 398,624.55 97.23 02/10/25DEUTSCH 410,000.00 771196BT8ROCHE HOLDINGS INC (CALLABLE)

CORPORATE
DTD 03/10/2022 2.132% 03/10/2025

4.72 1.01
(575.13)(548.62) 24,407.63 97.63 03/15/25MORGAN_ 25,000.00 437076CM2HOME DEPOT INC (CALLABLE) CORPORATE NOTE
DTD 03/28/2022 2.700% 04/15/2025

4.74 1.11
(1,227.62)(1,219.27) 63,766.43 98.10 04/01/25KEYBANC 65,000.00 17252MAP5CINTAS CORPORATION NO. 2 CORP NOTE (CALL
DTD 05/03/2022 3.450% 05/01/2025

5.03 1.15
(3,491.73)(3,068.55) 221,195.70 98.31 MERRILL 225,000.00 90327QD89USAA CAPITAL CORP CORPORATE NOTES DTD 05/26/2022 3.375% 05/01/2025

4.78 1.23
(10,850.62)(31,180.27) 221,067.23 98.25 03/15/25JPM_CHA 225,000.00 369550BG2GENERAL DYNAMICS CORP (CALLABLE)

CORP NO
DTD 05/11/2018 3.500% 05/15/2025

4.91 1.10
(5,251.99)(5,251.99) 309,748.01 98.33 06/01/24JPM_CHA 315,000.00 46647PCH7JPMORGAN CHASE & CO (CALLABLE) CORP NOTE
DTD 06/01/2021 0.824% 06/01/2025

2.10 0.34

Page 21 ends

For the Month Ending January 31, 2024Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Corporate Note
(23,251.68)(23,081.20) 451,686.05 95.09 05/03/25GOLDMAN 475,000.00 023135BQ8AMAZON INC CORP NOTES (CALLABLE) DTD 06/03/2020 0.800% 06/03/2025

4.61 1.25
(4,479.50)(4,479.50) 245,520.50 98.21 CITIGRP 250,000.00 63254ABD9NATIONAL AUSTRALIA BK/NY CORPORATE NOTES
DTD 06/09/2022 3.500% 06/09/2025

4.88 1.33
(1,034.67)(1,027.10) 48,959.40 97.92 RBC 50,000.00 63743HFE7NATIONAL RURAL UTIL COOP CORPORATE NOTES
DTD 05/04/2022 3.450% 06/15/2025

5.03 1.35
(2,196.00)(2,196.00) 222,804.00 99.02 JPM_CHA 225,000.00 459200KS9IBM CORP CORPORATE NOTES DTD 07/27/2022 4.000% 07/27/2025

4.68 1.46
(13,108.65)(35,365.05) 221,553.45 98.47 MERRILL 225,000.00 06051GFS3BANK OF AMERICA CORP NOTES DTD 07/30/2015 3.875% 08/01/2025

4.95 1.45
(11,785.13)(35,088.07) 222,757.43 99.00 06/15/25US_BANC 225,000.00 002824BM1ABBOTT LABORATORIES CORPORATE

NOTES (CAL
DTD 03/22/2017 3.875% 09/15/2025

4.52 1.33
(7,899.52)(7,899.52) 217,100.48 96.49 12/06/24MERRILL 225,000.00 06051GKE8BANK OF AMERICA CORP NOTES (CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025

3.51 0.85
(5,080.42)(5,080.42) 169,919.58 97.10 02/24/25JPM_CHA 175,000.00 46647PCV6JPMORGAN CHASE & CO CORP NOTES (CALLABLE
DTD 02/24/2022 2.595% 02/24/2026

4.07 1.05
(16,076.15)(15,863.85) 208,744.65 92.78 04/15/26CITIGRP 225,000.00 91324PEC2UNITEDHEALTH GROUP INC (CALLABLE) CORPOR
DTD 05/19/2021 1.150% 05/15/2026

4.50 2.18
(14,389.90)(14,364.00) 160,583.50 91.76 07/12/26MITSU 175,000.00 05565EBW4BMW US CAPITAL LLC (CALLABLE)

CORPORATE
DTD 08/12/2021 1.250% 08/12/2026

4.74 2.40
(15,225.77)(14,758.42) 209,105.33 92.94 JPM_CHA 225,000.00 14913R2U0CATERPILLAR FINL SERVICE CORPORATE NOTES
DTD 01/10/2022 1.700% 01/08/2027

4.28 2.87
(2,563.70)(2,536.08) 37,395.92 93.49 12/15/26CITIGRP 40,000.00 87612EBM7TARGET CORP CORP NOTES (CALLABLE) DTD 01/24/2022 1.950% 01/15/2027

4.32 2.80

Page 22 ends

For the Month Ending January 31, 2024Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Corporate Note
(31,380.56)(30,956.22) 442,989.28 93.26 12/26/26DEUTSCH 475,000.00 06406RBA4BANK OF NY MELLON CORP (CALLABLE) CORPOR
DTD 01/26/2022 2.050% 01/26/2027

4.48 2.83
2,890.59 9,224.25 731,166.75 97.49 11/06/26GOLDMAN 750,000.00 594918BY9MICROSOFT CORP CORP NOTES (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027

4.19 2.62
(1,852.09) 3,885.00 281,088.00 93.70 02/01/27RBS 300,000.00 025816CS6AMERICAN EXPRESS CO CORP NOTES (CALLABLE
DTD 03/04/2022 2.550% 03/04/2027

4.76 2.87
(20,649.95)(17,298.55) 448,790.45 94.48 02/15/27SEEL 475,000.00 084664CZ2BERKSHIRE HATHAWAY CORP NOTES (CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027

4.20 2.93
(663.51) 2,796.00 287,721.00 95.91 01/01/27BARCLAY 300,000.00 808513BW4CHARLES SCHWAB CORP NOTES (CALLABLE)
DTD 09/24/2021 3.300% 04/01/2027

4.70 2.77
142.66 2,903.00 491,228.00 98.25 CBAA 500,000.00 63254ABE7NATIONAL AUSTRALIA BK/NY CORPORATE NOTES
DTD 06/09/2022 3.905% 06/09/2027

4.47 3.16
(8,381.34)(884.27) 740,178.48 95.51 06/12/27TD 775,000.00 037833DB3APPLE INC (CALLABLE) BONDS DTD 09/12/2017 2.900% 09/12/2027

4.25 3.19
1,425.95 1,171.88 377,454.38 100.65 WELLS_F 375,000.00 89236TKQ7TOYOTA MOTOR CREDIT CORP

CORPORATE NOTES
DTD 01/12/2023 4.625% 01/12/2028

4.44 3.65
2,789.69 6,742.75 335,931.75 95.98 11/07/27MORGAN_ 350,000.00 637432NP6NATIONAL RURAL UTIL COOP CORP NOTES (CAL
DTD 02/07/2018 3.400% 02/07/2028

4.50 3.50
(805.28)(1,116.05) 85,927.35 101.09 01/15/28JPM_CHA 85,000.00 882508BV5TEXAS INSTRUMENTS INC CORP NOTE (CALLABL
DTD 11/18/2022 4.600% 02/15/2028

4.30 3.59
6,504.43 9,517.88 367,781.63 98.08 11/20/27MKTX 375,000.00 110122DE5BRISTOL-MYERS SQUIBB CO CORP NOTES (CALL
DTD 07/15/2020 3.900% 02/20/2028

4.42 3.51

Page 23 ends

For the Month Ending January 31, 2024Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Corporate Note
141.02 156.00 60,048.00 100.08 04/15/28BARCLAY 60,000.00 539830BZ1LOCKHEED MARTIN CORP NOTES (CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028

4.43 3.85
5,204.83 4,903.50 382,768.50 102.07 CITIGRP 375,000.00 24422EXB0JOHN DEERE CAPITAL CORP CORPORATE NOTES
DTD 07/14/2023 4.950% 07/14/2028

4.43 4.05
31,928.04 32,142.00 778,422.00 103.79 08/29/28BARCLAY 750,000.00 17325FBB3CITIBANK NA CORP NOTES (CALLABLE) DTD 09/29/2023 5.803% 09/29/2028

4.88 4.02
(266,904.86) 4.61 (196,169.63) 11,676,188.69 11,965,000.00 Security Type Sub-Total 2.13 Certificate of Deposit
7,033.71 7,033.71 457,033.71 101.56 TD 450,000.00 89115B6K1TORONTO DOMINION BANK NY CERT DEPOS
DTD 10/31/2022 5.600% 10/27/2025

4.58 1.70
826.65 826.65 450,826.65 100.18 WELLS_F 450,000.00 65558UYF3NORDEA BANK ABP NEW YORK CERT DEPOS
DTD 11/03/2022 5.530% 11/03/2025

5.41 1.68
7,860.36 4.99 7,860.36 907,860.36 900,000.00 Security Type Sub-Total 1.69 Asset-Backed Security
(223.60)(222.38) 18,111.80 98.78 BARCLAY 18,336.11 44933LAC7HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025

1.14 0.22
(2,330.82)(2,329.58) 117,960.53 98.06 MITSU 120,292.16 65480BAC1NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025

1.48 0.36
(2,322.42)(2,314.80) 116,441.33 98.04 CITIGRP 118,768.93 89190GAC1TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025

1.36 0.33
(1,748.21)(1,741.07) 62,704.24 97.28 MERRILL 64,458.89 43815GAC3HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026

2.29 0.57
(802.77)(797.84) 38,806.77 97.96 MERRILL 39,613.16 14314QAC8CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026

1.53 0.34
(1,261.64)(1,256.04) 49,718.75 97.51 SMBC 50,986.18 44935FAD6HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026

1.85 0.49

Page 24 ends

For the Month Ending January 31, 2024Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Asset-Backed Security
(5,491.01)(5,471.29) 189,486.96 97.17 CITIGRP 195,000.00 254683CP8DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026

1.68 0.61
(1,831.90)(1,831.22) 55,549.12 96.81 JPM_CHA 57,381.81 362554AC1GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026

1.93 0.61
(2,643.22)(2,641.61) 207,353.43 98.74 RBC 210,000.00 14318MAD1CARMX 2022-3 A3 DTD 07/20/2022 3.970% 04/15/2027

4.39 0.96
(985.89)(977.48) 138,993.55 99.28 WELLS_F 140,000.00 65480JAC4NAROT 2022-B A3 DTD 09/28/2022 4.460% 05/17/2027

4.70 1.24
(530.09)(517.94) 274,436.99 99.80 RBC 275,000.00 36265QAD8GMCAR 2022-4 A3 DTD 10/12/2022 4.820% 08/16/2027

4.88 1.15
(873.07)(873.04) 244,126.84 99.64 MERRILL 245,000.00 891940AC2TAOT 2023-A A3 DTD 01/30/2023 4.630% 09/15/2027

4.74 1.36
263.89 273.57 245,235.13 100.10 RBC 245,000.00 14041NGB1COMET 2022-A3 A DTD 11/03/2022 4.950% 10/15/2027

4.92 1.59
(414.59)(411.25) 169,571.63 99.75 JPM_CHA 170,000.00 41285JAD0HDMOT 2023-A A3 DTD 02/23/2023 5.050% 12/15/2027

5.12 1.51
(528.18)(525.84) 129,460.60 99.59 BNP_PAR 130,000.00 344928AD8FORDO 2023-A A3 DTD 03/31/2023 4.650% 02/15/2028

4.76 1.59
3,767.81 3,774.36 323,708.38 101.16 MERRILL 320,000.00 43815QAC1HAROT 2023-3 A3 DTD 08/22/2023 5.410% 02/18/2028

5.09 1.81
(2,910.38)(2,907.33) 317,074.11 99.09 RBC 320,000.00 254683CY9DCENT 2023-A1 A DTD 04/11/2023 4.310% 03/15/2028

4.55 1.97
257.13 262.06 170,223.57 100.13 MERRILL 170,000.00 05522RDG0BACCT 2023-A1 A1 DTD 06/16/2023 4.790% 05/15/2028

4.76 2.11
633.65 635.83 190,618.98 100.33 RBC 190,000.00 02582JJZ4AMXCA 2023-1 A DTD 06/14/2023 4.870% 05/15/2028

4.79 2.10
(1,471.13)(1,455.49) 488,432.15 99.68 RBC 490,000.00 14041NGD7COMET 2023-A1 A DTD 05/24/2023 4.420% 05/15/2028

4.50 2.11
2,708.60 2,714.28 352,667.00 100.76 MERRILL 350,000.00 254683CZ6DCENT 2023-A2 A DTD 06/28/2023 4.930% 06/15/2028

4.74 2.18
1,761.06 1,761.72 86,746.75 102.06 JPM_CHA 85,000.00 438123AC5HAROT 2023-4 A3 DTD 11/08/2023 5.670% 06/21/2028

5.15 2.08
3,218.95 3,220.88 353,199.18 100.91 JPM_CHA 350,000.00 31680EAD3FITAT 2023-1 A3 DTD 08/23/2023 5.530% 08/15/2028

5.30 1.88

Page 25 ends

For the Month Ending January 31, 2024Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Value On Cost Amort CostCUSIP Broker Date PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration
Asset-Backed Security
6,277.43 6,284.96 411,172.69 101.52 JPM_CHA 405,000.00 161571HT4CHAIT 2023-A1 A DTD 09/15/2023 5.160% 09/15/2028

4.79 2.39
7,173.77 7,174.96 417,156.63 101.75 CITIGRP 410,000.00 02582JKD1AMXCA 2023-3 A DTD 09/19/2023 5.230% 09/15/2028

4.81 2.39
2,055.91 2,056.48 182,032.31 101.13 MERRILL 180,000.00 05522RDH8BACCT 2023-A2 A2 DTD 12/14/2023 4.980% 11/15/2028

4.72 2.54
1,884.90 4.42 1,749.28 5,350,989.42 5,349,837.24 Security Type Sub-Total 1.73 53,627,684.20 51,870,987.01 (219,866.15) (565,044.87) 4.33 Managed Account Sub-Total 2.49 Joint Powers Authority

0.00 0.00 191,349.05 1.00 191,349.05 CAMP Pool 0.00 191,349.05 191,349.05 0.00 0.00 Liquid Sub-Total 0.00 Total Investments $52,302,754.05
$240,417.99
$52,062,336.06
Accrued Interest
Securities Sub-Total $53,819,033.25 ($219,866.15) ($565,044.87) 4.33% 2.49

Page 26 ends

For the Month Ending January 31, 2024Managed Account Security Transactions & Interest

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Transaction Type
Trade CUSIPSecurity DescriptionSettle Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
BUY
01/05/24 US TREASURY NOTES
DTD 11/30/2022 3.875% 11/30/2027
91282CFZ9 (1,170,501.95) (4,478.48) (1,174,980.43) 1,175,000.00 01/02/24 (4,478.48) (1,174,980.43)(1,170,501.95) 1,175,000.00 Transaction Type Sub-Total

INTEREST
01/01/24 FL ST BOARD OF ADMIN TXBL REV
BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 0.00 1,949.90 1,949.90 310,000.00 01/01/24 01/01/24 CT ST TXBL GO BONDS
DTD 06/11/2020 1.998% 07/01/2024
20772KJW0 0.00 599.40 599.40 60,000.00 01/01/24
01/25/24 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
3137HBC69 0.00 1,619.33 1,619.33 400,000.00 01/01/24 01/25/24 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 0.00 1,113.75 1,113.75 275,000.00 01/01/24 01/25/24 FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
3137BXQY1 0.00 1,477.67 1,477.67 550,000.00 01/01/24 01/25/24 FHMS K058 A2
DTD 11/09/2016 2.653% 08/01/2026
3137BSP72 0.00 1,215.96 1,215.96 550,000.00 01/01/24 01/25/24 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 0.00 3,100.00 3,100.00 800,000.00 01/01/24 01/25/24 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 0.00 760.35 760.35 180,000.00 01/01/24
01/25/24 FHLMC MULTIFAMILY STRUCTURED P
DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 0.00 1,486.38 1,486.38 550,000.00 01/01/24 01/25/24 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 0.00 2,208.71 2,208.71 550,000.00 01/01/24 01/25/24 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 0.00 1,515.63 1,515.63 375,000.00 01/01/24 01/25/24 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
3136BQDE6 0.00 1,920.42 1,920.42 550,000.00 01/01/24 01/25/24 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 0.00 1,746.85 1,746.85 438,814.98 01/01/24 01/25/24 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
3137BTUM1 0.00 1,058.30 1,058.30 379,432.02 01/01/24

Page 27 ends

For the Month Ending January 31, 2024Managed Account Security Transactions & Interest

INTEREST
01/25/24 FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24 0.00 628.74 628.74 246,403.24 01/01/24
01/25/24 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 0.00 1,975.00 1,975.00 500,000.00 01/01/24 01/25/24 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 0.00 2,000.00 2,000.00 500,000.00 01/01/24 01/25/24 FHMS K054 A2
DTD 04/20/2016 2.745% 01/01/2026
3137BNGT5 0.00 629.06 629.06 275,000.00 01/01/24
01/08/24 GOLDMAN SACHS GROUP INC
(CALLABLE) BONDS
DTD 07/08/2014 3.850% 07/08/2024
38141EC23 0.00 7,700.00 7,700.00 400,000.00 01/08/24 01/08/24 CATERPILLAR FINL SERVICE

CORPORATE NOTES
DTD 01/10/2022 1.700% 01/08/2027
14913R2U0 0.00 1,912.50 1,912.50 225,000.00 01/08/24 01/12/24 TOYOTA MOTOR CREDIT CORP

CORPORATE NOTES
DTD 01/12/2023 4.625% 01/12/2028
89236TKQ7 0.00 8,671.88 8,671.88 375,000.00 01/12/24 01/14/24 JOHN DEERE CAPITAL CORP

CORPORATE NOTES
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 0.00 9,281.25 9,281.25 375,000.00 01/14/24 01/15/24 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
254683CP8 0.00 94.25 94.25 195,000.00 01/15/24
01/15/24 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
161571HT4 0.00 1,741.50 1,741.50 405,000.00 01/15/24 01/15/24 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 0.00 771.90 771.90 180,000.00 01/15/24
01/15/24 COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
14041NGD7 0.00 1,804.83 1,804.83 490,000.00 01/15/24 01/15/24 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
65480JAC4 0.00 520.33 520.33 140,000.00 01/15/24
01/15/24 NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
65480BAC1 0.00 36.66 36.66 133,305.37 01/15/24
01/15/24 COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
14041NGB1 0.00 1,010.63 1,010.63 245,000.00 01/15/24

Page 28 ends

For the Month Ending January 31, 2024Managed Account Security Transactions & Interest

INTEREST
01/15/24 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
14318MAD1 0.00 694.75 694.75 210,000.00 01/15/24
01/15/24 TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
89190GAC1 0.00 28.68 28.68 132,375.83 01/15/24
01/15/24 BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
05522RDG0 0.00 678.58 678.58 170,000.00 01/15/24
01/15/24 TARGET CORP CORP NOTES
(CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 0.00 390.00 390.00 40,000.00 01/15/24
01/15/24 FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
344928AD8 0.00 503.75 503.75 130,000.00 01/15/24
01/15/24 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 0.00 1,612.92 1,612.92 350,000.00 01/15/24 01/15/24 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 0.00 19.08 19.08 44,027.41 01/15/24
01/15/24 DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
254683CZ6 0.00 1,437.92 1,437.92 350,000.00 01/15/24 01/15/24 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 0.00 6.87 6.87 21,690.17 01/15/24
01/15/24 TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
891940AC2 0.00 945.29 945.29 245,000.00 01/15/24
01/15/24 DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
254683CY9 0.00 1,149.33 1,149.33 320,000.00 01/15/24 01/15/24 AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
02582JJZ4 0.00 771.08 771.08 190,000.00 01/15/24
01/15/24 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 0.00 34.07 34.07 55,241.14 01/15/24
01/15/24 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02582JKD1 0.00 1,786.92 1,786.92 410,000.00 01/15/24 01/15/24 HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
41285JAD0 0.00 715.42 715.42 170,000.00 01/15/24
01/16/24 GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
36265QAD8 0.00 1,104.58 1,104.58 275,000.00 01/16/24

Page 29 ends

For the Month Ending January 31, 2024Managed Account Security Transactions & Interest

INTEREST
01/16/24 GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
362554AC1 0.00 34.70 34.70 61,236.98 01/16/24
01/18/24 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
43815QAC1 0.00 1,442.67 1,442.67 320,000.00 01/18/24 01/21/24 HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
43815GAC3 0.00 51.08 51.08 69,655.21 01/21/24
01/21/24 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
438123AC5 0.00 401.63 401.63 85,000.00 01/21/24
01/21/24 FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
3137EAEU9 0.00 796.88 796.88 425,000.00 01/21/24
01/26/24 BANK OF NY MELLON CORP (CALLABLE)
CORPOR
DTD 01/26/2022 2.050% 01/26/2027
06406RBA4 0.00 4,868.75 4,868.75 475,000.00 01/26/24 01/27/24 IBM CORP CORPORATE NOTES
DTD 07/27/2022 4.000% 07/27/2025
459200KS9 0.00 4,500.00 4,500.00 225,000.00 01/27/24 01/31/24 US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
91282CCP4 0.00 11,875.00 11,875.00 3,800,000.00 01/31/24 01/31/24 US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
91282CFB2 0.00 35,750.00 35,750.00 2,600,000.00 01/31/24 132,151.13 132,151.13 0.00 21,827,182.35 Transaction Type Sub-Total

PAYDOWNS
01/25/24 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 225.92 0.00 225.92 0.01 0.00 225.92 01/01/24 01/25/24 FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24 406.84 0.00 406.84 (20.15) 0.00 406.84 01/01/24 01/25/24 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
3137HBC69 458.99 0.00 458.99 0.00 0.00 458.99 01/01/24 01/25/24 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
3137BTUM1 711.53 0.00 711.53 21.90 0.00 711.53 01/01/24 01/15/24 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 4,414.25 0.00 4,414.25 0.95 0.00 4,414.25 01/15/24 01/15/24 TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
89190GAC1 13,606.90 0.00 13,606.90 1.47 0.00 13,606.90 01/15/24

Page 30 ends

For the Month Ending January 31, 2024Managed Account Security Transactions & Interest

PAYDOWNS
01/15/24 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 4,254.96 0.00 4,254.96 0.95 0.00 4,254.96 01/15/24 01/15/24 NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
65480BAC1 13,013.21 0.00 13,013.21 0.22 0.00 13,013.21 01/15/24 01/15/24 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 3,354.06 0.00 3,354.06 0.35 0.00 3,354.06 01/15/24 01/16/24 GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
362554AC1 3,855.17 0.00 3,855.17 0.10 0.00 3,855.17 01/16/24 01/21/24 HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
43815GAC3 5,196.32 0.00 5,196.32 1.10 0.00 5,196.32 01/21/24

0.00 0.00 6.90 49,498.15 49,498.15 49,498.15 Transaction Type Sub-Total SELL
01/04/24 PNC BANK NA CORP NOTES (CALLABLE)
DTD 01/23/2019 3.500% 01/23/2024
693475AV7 399,476.00 6,261.11 405,737.11 (3,372.00) (524.00) FIFO 400,000.00 01/02/24 01/05/24 FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025
3130AJHU6 332,097.50 393.75 332,491.25 (16,166.50) (17,459.93) FIFO 350,000.00 01/02/24 01/05/24 FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 332,342.50 443.58 332,786.08 (16,936.50) (17,470.53) FIFO 350,000.00 01/02/24 7,098.44 (35,454.46)(36,475.00) 1,071,014.44 1,063,916.00 1,100,000.00 Transaction Type Sub-Total (57,087.80) 134,771.09 77,683.29 (36,468.10) (35,454.46)Managed Account Sub-Total Total Security Transactions ($36,468.10)$77,683.29 $134,771.09 ($57,087.80) ($35,454.46)

Page 31 ends

For the Month Ending January 31, 2024Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool
116,772.96 Opening Balance
01/02/24 01/02/24 Purchase - Interest 20772KJW0 1.00 599.40 117,372.36 01/02/24 01/02/24 Purchase - Interest 341271AD6 1.00 1,949.90 119,322.26 01/02/24 01/02/24 Purchase - Interest 912828YY0 1.00 437.50 119,759.76 01/02/24 01/02/24 Purchase - Interest 912828ZW3 1.00 187.50 119,947.26 01/04/24 01/04/24 Purchase - Principal 693475AV7 1.00 399,476.00 519,423.26 01/04/24 01/04/24 Purchase - Interest 693475AV7 1.00 6,261.11 525,684.37 01/05/24 01/05/24 Purchase - Principal 3130AJHU6 1.00 332,097.50 857,781.87 01/05/24 01/05/24 Purchase - Interest 3130AJHU6 1.00 393.75 858,175.62 01/05/24 01/05/24 Purchase - Interest 3135G03U5 1.00 443.58 858,619.20 01/05/24 01/05/24 Purchase - Principal 3135G03U5 1.00 332,342.50 1,190,961.70 01/05/24 01/05/24 Redemption - Principal 91282CFZ9 1.00 (1,170,501.95) 20,459.75 01/05/24 01/05/24 Redemption - Interest 91282CFZ9 1.00 (4,478.48) 15,981.27 01/08/24 01/08/24 Purchase - Interest 14913R2U0 1.00 1,912.50 17,893.77 01/08/24 01/08/24 Purchase - Interest 38141EC23 1.00 7,700.00 25,593.77 01/12/24 01/12/24 Purchase - Interest 89236TKQ7 1.00 8,671.88 34,265.65 01/16/24 01/16/24 Purchase - Interest 24422EXB0 1.00 9,281.25 43,546.90 01/16/24 01/16/24 Purchase - Interest 87612EBM7 1.00 390.00 43,936.90 01/16/24 01/16/24 Purchase - Interest 02582JJZ4 1.00 771.08 44,707.98 01/16/24 01/16/24 Purchase - Interest 02582JKD1 1.00 1,786.92 46,494.90 01/16/24 01/16/24 Purchase - Interest 05522RDG0 1.00 678.58 47,173.48 01/16/24 01/16/24 Purchase - Interest 05522RDH8 1.00 771.90 47,945.38

Page 32 ends

For the Month Ending January 31, 2024Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool
01/16/24 01/16/24 Purchase - Interest 14041NGB1 1.00 1,010.63 48,956.01 01/16/24 01/16/24 Purchase - Interest 14041NGD7 1.00 1,804.83 50,760.84 01/16/24 01/16/24 Purchase - Interest 14314QAC8 1.00 19.08 50,779.92 01/16/24 01/16/24 Purchase - Interest 14318MAD1 1.00 694.75 51,474.67 01/16/24 01/16/24 Purchase - Interest 161571HT4 1.00 1,741.50 53,216.17 01/16/24 01/16/24 Purchase - Interest 254683CP8 1.00 94.25 53,310.42 01/16/24 01/16/24 Purchase - Interest 254683CY9 1.00 1,149.33 54,459.75 01/16/24 01/16/24 Purchase - Interest 31680EAD3 1.00 1,612.92 56,072.67 01/16/24 01/16/24 Purchase - Interest 344928AD8 1.00 503.75 56,576.42 01/16/24 01/16/24 Purchase - Interest 41285JAD0 1.00 715.42 57,291.84 01/16/24 01/16/24 Purchase - Interest 44933LAC7 1.00 6.87 57,298.71 01/16/24 01/16/24 Purchase - Interest 44935FAD6 1.00 34.07 57,332.78 01/16/24 01/16/24 Purchase - Interest 65480JAC4 1.00 520.33 57,853.11 01/16/24 01/16/24 Purchase - Interest 254683CZ6 1.00 1,437.92 59,291.03 01/16/24 01/16/24 Purchase - Interest 362554AC1 1.00 34.70 59,325.73 01/16/24 01/16/24 Purchase - Interest 36265QAD8 1.00 1,104.58 60,430.31 01/16/24 01/16/24 Purchase - Interest 65480BAC1 1.00 36.66 60,466.97 01/16/24 01/16/24 Purchase - Interest 89190GAC1 1.00 28.68 60,495.65 01/16/24 01/16/24 Purchase - Interest 891940AC2 1.00 945.29 61,440.94 01/16/24 01/16/24 Purchase - Principal 14314QAC8 1.00 4,414.25 65,855.19 01/16/24 01/16/24 Purchase - Principal 44933LAC7 1.00 3,354.06 69,209.25 01/16/24 01/16/24 Purchase - Principal 44935FAD6 1.00 4,254.96 73,464.21

Page 33 ends

For the Month Ending January 31, 2024Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool
01/16/24 01/16/24 Purchase - Principal 65480BAC1 1.00 13,013.21 86,477.42 01/16/24 01/16/24 Purchase - Principal 89190GAC1 1.00 13,606.90 100,084.32 01/16/24 01/16/24 Purchase - Principal 362554AC1 1.00 3,855.17 103,939.49 01/18/24 01/18/24 Purchase - Interest 43815QAC1 1.00 1,442.67 105,382.16 01/22/24 01/22/24 Purchase - Interest 3137EAEU9 1.00 796.88 106,179.04 01/22/24 01/22/24 Purchase - Interest 43815GAC3 1.00 51.08 106,230.12 01/22/24 01/22/24 Purchase - Interest 438123AC5 1.00 401.63 106,631.75 01/22/24 01/22/24 Purchase - Principal 43815GAC3 1.00 5,196.32 111,828.07 01/24/24 01/24/24 IP Fees December 2023 1.00 (3,987.80) 107,840.27 01/24/24 01/24/24 U.S. Bank Fees November 2023 1.00 (222.29) 107,617.98 01/25/24 01/25/24 Purchase - Interest 3137HBC69 1.00 1,619.33 109,237.31 01/25/24 01/25/24 Purchase - Interest 3137HB3G7 1.00 1,113.75 110,351.06 01/25/24 01/25/24 Purchase - Interest 3137HB3D4 1.00 760.35 111,111.41 01/25/24 01/25/24 Purchase - Interest 3137HAST4 1.00 1,515.63 112,627.04 01/25/24 01/25/24 Purchase - Interest 3137HAQ74 1.00 1,975.00 114,602.04 01/25/24 01/25/24 Purchase - Interest 3137HAMS2 1.00 2,000.00 116,602.04 01/25/24 01/25/24 Purchase - Interest 3137HAMH6 1.00 3,100.00 119,702.04 01/25/24 01/25/24 Purchase - Interest 3137HAD45 1.00 1,746.85 121,448.89 01/25/24 01/25/24 Purchase - Interest 3137HACX2 1.00 2,208.71 123,657.60 01/25/24 01/25/24 Purchase - Interest 3137F1G44 1.00 1,486.38 125,143.98 01/25/24 01/25/24 Purchase - Interest 3137BXQY1 1.00 1,477.67 126,621.65 01/25/24 01/25/24 Purchase - Interest 3137BTUM1 1.00 1,058.30 127,679.95

Page 34 ends

For the Month Ending January 31, 2024Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool
01/25/24 01/25/24 Purchase - Interest 3137BSP72 1.00 1,215.96 128,895.91 01/25/24 01/25/24 Purchase - Interest 3137BNGT5 1.00 629.06 129,524.97 01/25/24 01/25/24 Purchase - Interest 3137BGK24 1.00 628.74 130,153.71 01/25/24 01/25/24 Purchase - Interest 3136BQDE6 1.00 1,920.42 132,074.13 01/25/24 01/25/24 Purchase - Principal 3137HBC69 1.00 458.99 132,533.12 01/25/24 01/25/24 Purchase - Principal 3137HAD45 1.00 225.92 132,759.04 01/25/24 01/25/24 Purchase - Principal 3137BGK24 1.00 406.84 133,165.88 01/25/24 01/25/24 Purchase - Principal 3137BTUM1 1.00 711.53 133,877.41 01/26/24 01/26/24 Purchase - Interest 06406RBA4 1.00 4,868.75 138,746.16 01/29/24 01/29/24 Purchase - Interest 459200KS9 1.00 4,500.00 143,246.16 01/31/24 01/31/24 Purchase - Interest 91282CCP4 1.00 11,875.00 155,121.16 01/31/24 01/31/24 Purchase - Interest 91282CFB2 1.00 35,750.00 190,871.16 01/31/24 02/01/24 Accrual Income Div Reinvestment - Distributions 1.00 477.89 191,349.05

Page 35 ends

For the Month Ending January 31, 2024Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDate Transaction Description of TransactionUnit PriceDate 191,349.05
191,349.05
191,349.05
101,882.98
477.89

0.00 (1,179,190.52)
1,253,766.61
116,772.96
477.89
191,349.05

0.00 (1,179,190.52)
1,253,766.61
116,772.96
Monthly Distribution Yield
Average Monthly Balance
Closing Balance
Fiscal YTDMonth of
Cash Dividends and Income
Closing Balance
Check Disbursements
Redemptions (Excl. Checks)
Purchases
Opening Balance
Closing Balance
January January-January

5.54%

Page 36 ends

R
eview of Investment Performance
CAM
P Accounts

Investment Performance Review
For the Quarter Ended December 31, 2023
Client Management Team PFM Asset Management LLC
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public City Of Lake Elsinore
© PFM Asset Management LLC pfmam.com|
Market Update
PFM Asset Management LLC
For the Quarter Ended March 31, 2022
Market Update
▸ The U.S. economy is characterized by:
▹ Economic resilience but expectations for a slowdown
▹ Cooling inflation that still remains above the Federal Reserve’s (“Fed”) target ▹ The labor market coming into better balance
▹ Consumers that continue to support growth through spending ▸ Federal Reserve signals end to rate hiking cycle
▹ Fed projected to cut the short-term Fed funds rate by 75 basis points by December 2024, with the overnight rate falling to 4.50% to 4.75%
▹ Markets are pricing a more aggressive 6 rate cuts by year end ▹ Fed officials reaffirm that restoring price stability is the priority ▸ Treasury yields ended the quarter materially lower
▹ After peaking in October, yields reversed course on dovish Fed pivot ▹ Yield curve inversion persisted throughout the rally
▹ Credit spreads narrowed sharply on increased expectations for a soft landing

CLIENT NAME
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC | pfmam.com
Current Market Themes

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|
1 Source: Bloomberg, as of December 2023.

For the Quarter Ended March 31, 2022
Market U pdate
F
or the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC | pfmam.com
While Up in December, Inflation Trended Lower During The Quarter Lower energy
and goods prices
helped to offset
increases in
wage-driven
services costs 3.4%
-2%
0%
2%
4%
6%
8%
10%
Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23 Factors Contributing to the Consumer Price Index (CPI YoY) Food Energy Core Goods Core Services CPI
Dec - 23

CITY OF LAKE ELSINORE
2 Source: Bloomberg, Economist Forecasts.

For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC | pfmam.com
Balanced Risks Support Soft Landing

2.2% 2.1%

4.9%

2.6%
1 .3%

1.7%

0.0%
1 .0%

2.0%

3.0%

4.0%

5.0%

6.0%
Q1 '23 Q2 '23 Q3 '23 Q4 '23 2024 2025
U.S. GDP Forecasts
Annualized Rate
Actual Range Median of Forecasts
Employment
Consumer
Wages
Manufacturing
Housing
Inverted yield curve
Fed Policy
Inflation
Credit spreads

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|
3 5.4%

4.6%

3.6%

2.9% 2.5%
0%
2 %
4%
6%
8%
2023 2024 2025 2026 Longer
Run
Federal Funds Rate
September Projections December Projections

2.8%

2.4% 2.1% 2.0% 2.0%
0%
1 %
2%
3%
4%
5%
2023 2024 2025 2026 Longer
Run
PCE Inflation
September Projections December Projections

3.8% 4.1% 4.1% 4.1% 4.1%
0%
1 %
2%
3%
4%
5%
6%
2023 2024 2025 2026 Longer
Run
Unemployment Rate
September Projections December Projections
Federal Reserve Projects a Soft Landing
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2023
Market Update
Source: Federal Reserve, latest economic projections as of December 2023.

2.6%

1.4%

1.8% 1.9% 1.8%
0%
1 %
2%
3%
4%
2023 2024 2025 2026 Longer
Run
Change in Real GDP
September Projections December Projections

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|
4 Market Expects Lower Rates
Source: Bloomberg, as of December 2023.
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2023
Market Update
Expectations for
Fed Funds have
reached their
most dovish
levels in 6
months in
response to
falling inflation,
Fed pivot and
moderating
labor market

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%

5.00%

5.50%

6.00%
Dec-23 Jun-24 Dec-24 Jun-25 Dec-25
Implied Fed Funds Rate
6-Month Range Fed Funds as of December 29, 2023 Fed Funds as of September 29, 2023 -89 bps
-108 bps

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|
5 Rates Fall on Softer Inflation and Fed Pivot
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2023
Market Update
Source: Bloomberg, as of 12/31/2023.

4.00%

4.25%

4.50%

4.75%

5.00%

5.25%

5.50%
Oct-23 Nov-23 Dec-23 Jan-24
2-Year US Treasury Yield
Week of November 27th
Fed speeches portend
policy shift
-41 bps
November 14th
CPI inflation cools more
than markets expected
-20 bps
December 13th
Fed releases updated
dot plot showing 3 cuts
in ’24
-30 bps
November 1
st - 3rd
Fed keeps rates
unchanged and
Treasury slows pace
of debt issuance
-25 bps

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|
6 Interest Rates Moderate But Remain High
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2023
Market Update
Source: Bloomberg, as of December 31, 2023.

5.33%

4.25%

3.85% 3.88% 4.03%

0.0%

1. 0%

2.0%

3.0%

4.0%

5.0%

6.0% Yield
Maturity
U.S. Treasury Yield Curve
15 Year Range
December 31, 2023
September 30, 2023
3-Month 2-Year
5-Year
10-Year 3 0-Year

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|
7 Sector Yield Spreads
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2023
Market Update
Source: ICE BofA 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of December 31, 2023. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.

CMBS is Commercial Mortgage-Backed Securities and represented by the ICE BofA Agency CMBS Index.

0.0%

0.2%

0.4%

0.6%

0.8%
Dec-22 Mar-23 Jun-23 Sep-23 Dec-23
Federal Agency Yield Spreads
Bullet Callable

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%
Dec-22 Mar-23 Jun-23 Sep-23 Dec-23
Corporate Notes A-AAA Yield Spreads

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%
Dec-22 Mar-23 Jun-23 Sep-23 Dec-23
Mortgage-Backed Securities Yield Spreads
Agency MBS Agency CMBS Index

0.0%

0.5%

1.0%

1.5%
Dec-22 Mar-23 Jun-23 Sep-23 Dec-23
Asset-Backed Securities AAA Yield Spreads

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|
8 Fixed-Income Markets in 4Q 2023
1-5 Year Indices
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2023
Market Update
Source: ICE BofA Indices. ABS indices are 0-5 year, based on weighted average life. As of December 31, 2023.

3.10%

2.81%

2.47%

3.82%

4.13%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
1-5 Year Indices Quarterly Returns

4.30%

4.69%

5.40%

5.89%

6.82%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
1-Year Return

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|
9 © PFM Asset Management LLC pfmam.com|
Portfolio Review
© PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Portfolio Snapshot
|
Total market value includes accrued interest and balances invested in CAMP, as of December 31, 2023.

Yield and duration calculations exclude balances invested in CAMP.

The portfolio’s benchmark is the ICE BofA 1-5 Year U.S. Treasury Index. Source: Bloomberg.

An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.

1. Portfolio Snapshot¹
Credit Quality - S&P
9%
19%
45%
18%
9%
4%
34%
27%
21%
14%
0%
10%
20%
30%
40%
50%
0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 41%
Corporate | 23%
Agency CMBS | 14%
ABS | 10%
Federal Agency | 5%
Municipal | 3%
Negotiable CD | 2%
Supranational | 1%
Joint Powers Authority | <1%
Sector Allocation
AAA | 12%
AAAm | <1%
AA+ | 62%
AA | 4%
AA- | 4%
A+ | 3%
A | 5%
A- | 7%
BBB+ | 1%
Not Rated | 2%
Portfolio Statistics
Portfolio Effective Duration 2. 52 years
Benchmark Effective Duration 2.53 years
Portfolio Credit Quality AA
Yield At Market 4.34%
Yield At Cost 3.49%
Total Market Value $52,137,217.16
$51,767,158.04Managed Account Sub-Total
$116,772.96Pool
$253,286.16Accrued Interest
10 PFM Asset Management LLC
For the Quarter Ended June 30, 2022
MarketU pdate
For the Quarter Ended December 31, 2023
Sector Analytics
© PFM Asset Management LLC | pfmam.com
Sector Allocation Analytics
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest. *Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided.

0.2%

10.4%

23. 4%

1.8%

2. 8%

1.2%

13.6%

5.4%

41.3%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
CAMP I $116,773
Asset-Backed I $5,407,918
Corporate I $12,177,870
Negotiable CD I $914,348
Municipal I $1,479,697
Supranational I $615,446
Agency MBS I $7,112,424
Federal Agency I $2,796,048
U.S. Treasury I $21,516,693
Sector Limit for Analysis* Portfolio Allocation

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Compliance
|
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM").

Certificate of Compliance
During the reporting period for the quarter ended December 31, 2023, the account(s) managed by PFM Asset Management ("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Portfolio Activity
|
Portfolio Activity
Net Activity by Sector
($ millions)
Federal Agency
Supranational
U.S. Treasury
ABS
Corporate
Agency CMBS
Federal Agency
Su
pranational
U.S. Treasury
ABS
Corporate
Agency CMBS
($1.5) ($1.0) ($0.5) $0.0 $0.5 $1.0 $1.5 $2.0
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.

Sector Net Activity
Agency CMBS $1,704,970
Corporate $527,867
ABS $105,973
U.S. Treasury ($255,496)
Supranational ($500,625)
Federal Agency ($1,301,422)
$281,267Total Net Activity
Sales/Maturities Purchases
13 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Portfolio Characteristics
|
Historical Sector Allocation
Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. 42%
8%
10%
2%
3%
2%
22%
10%
Sep-23
41%
5%
14%
1%3%2%
23%
10%
Dec-23
14 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Portfolio Performance
|
The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is September 30, 2010.1.

Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.

Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.3.

The portfolio’s benchmark is the ICE BofA 1-5 Year U.S. Treasury Index. Source: Bloomberg.4. -2.0%

0.0%

2.0%

4.0%

6.0%
Return
Portfolio Benchmark
Portfolio Performance
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years 10 Years¹ Interest Earned² $3 42,941 $1,086,145 $1,949,849 $3,467,413 $5,928,488 Change in Market Value $1,323,515 $1,200,023 ($1,640,737) $93,247 ($246,419) $1,666,456Total Dollar Return $2,286,168 $309,112 $3,560,660 $5,682,069 Total Return³
Portfolio 3.30% 4.93% -0.50% 1.53% 1.43%
Benchmark⁴ 3.10% 4.30% -0.76% 1.21% 1.15%
3 Months 1 Year 3 Years 5 Years 10 Years
Difference 0.20% 0.63% 0.26% 0.32% 0.28%
15 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Portfolio Performance
|
The lesser of 10 years or since inception is shown. Performance inception date is September 30, 2010.1.

Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.

Realized gains / (losses) are shown on an amortized cost basis.3.

Accrual Basis Earnings
Accrual Basis Earnings
Interest Earned²
Re
alized Gains / (Losses)³
Change in Amortized Cost
Total Earnings
3 Months
$342,941
($
98,240)
$99,125
$343,825
1 Year
$1,086,145
($
468,974)
$457,835
$1,075,007
3 Years
$1,949,849
($
708,094)
$357,676
$1,599,431
5 Year
$3,467,413
($
4,490)
$398,797
$3,861,721
10 Year¹
$5,928,488
($
7,046)
$217,028
$6,138,470
16 Fixed-Income Sector Outlook – 1Q 2024
Negative Slightly
Negative Neutral Slightly
Positive PositiveCurrent outlook Outlook one quarter ago Sector Our Investment Preferences

C O M M E R C I A L PA P E R
/
C D

T R E A S U R I E S
T-Bill
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-Note

F E D E R A L A G E N C I E S
Bullets
C
allables

S U P R A N AT I O N A L S
C

O R P O R AT E S
Financials
I
ndustrials

S E C U R I T I Z E D
Asset-Backed
A
gency Mortgage-Backed
Agency CMBS

M U N I C I P A L S
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2023
Market UpdateCITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Market Update
© PFM Asset Management LLC pfmam.com|
17 © PFM Asset Management LLC | pfmam.com
Issuer Distribution
© PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Portfolio Summary
|
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings, excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balances invested in overnight funds.

Issuer Diversification
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer U.S. Treasury 41.4%
UNITED STATES TREASURY 41.4% AA / Aaa / AA
Federal Agency 5.4%
FANNIE MAE 2.4% AA / Aaa / AA
FEDERAL HOME LOAN BANKS 0.9% AA / Aaa / NR
FREDDIE MAC 2.0% AA / Aaa / AA
Agency CMBS 13.7%
FANNIE MAE 1.1% AA / Aaa / AA
FREDDIE MAC 12.6% AA / Aaa / AA
Supranational 1.2%
INTER-AMERICAN DEVELOPMENT BANK 1.2% AAA / Aaa / AAA
Municipal 2.8%
CALIFORNIA STATE UNIVERSITY 0.2% AA / Aa / NR

CHAFFEY JOINT UNION HIGH SCHOOL

DISTRICT

0.2% AA / Aa / NR
FLORIDA STATE BOARD OF ADMIN FIN CORP 0.6% AA / Aa / AA

LOS ANGELES COMMUNITY COLLEGE

DISTRICT

0.3% AA / Aaa / NR
NEW YORK ST URBAN DEVELOPMENT CORP 0.6% NR / NR / AA
SAN JUAN UNIFIED SCHOOL DISTRICT 0.2% NR / Aa / NR
STATE OF CALIFORNIA 0.4% AA / Aa / AA
STATE OF CONNECTICUT 0.1% AA / Aa / AA
STATE OF MINNESOTA 0.2% AAA / Aaa / AAA
UNIVERSITY OF CALIFORNIA 0.2% AA / Aa / AA
Negotiable CD 1.8%
NORDEA BANK ABP 0.9% AA / Aa / AA
TORONTO-DOMINION BANK 0.9% A / A / NR
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Corporate 23.4%
ABBOTT LABORATORIES 0.4% AA / Aa / NR
AMAZON.COM INC 0.9% AA / A / AA
AMERICAN EXPRESS CO 0.7% BBB / A / A
AMERICAN HONDA FINANCE 0.8% A / A / A
APPLE INC 1.4% AA / Aaa / NR
BANK OF AMERICA CO 0.9% A / A / AA
BERKSHIRE HATHAWAY INC 0.9% AA / Aa / A
BMW FINANCIAL SERVICES NA LLC 0.4% A / A / NR
BRISTOL-MYERS SQUIBB CO 0.7% A / A / NR
CATERPILLAR INC 0.4% A / A / A
CHARLES SCHWAB 0.8% A / A / A
CINTAS CORPORATION NO. 2 0.1% A / A / NR
CITIGROUP INC 1.5% A / Aa / A
DEERE & COMPANY 0.8% A / A / A
GENERAL DYNAMICS CORP 0.4% A / A / NR
GOLDMAN SACHS GROUP INC 0.8% BBB / A / A
HOME DEPOT INC 0.0% A / A / A
IBM CORP 0.4% A / A / A
JP MORGAN CHASE & CO 0.9% A / A / AA
LOCKHEED MARTIN CORP 0.1% A / A / A
MICROSOFT CORP 1.4% AAA / Aaa / NR
MORGAN STANLEY 0.8% A / A / A
NATIONAL AUSTRALIA BANK LTD 1.4% AA / Aa / NR

NATIONAL RURAL UTILITIES CO FINANCE
CORP

0.7% A / A / A
PACCAR FINANCIAL CORP 0.3% A / A / NR
PNC FINANCIAL SERVICES GROUP 0.8% A / A / A
18 © PFM Asset Management LLC pfmam.com

Issuer Diversification
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Corporate 23.4%
ROCHE HOLDINGS INC 0.8% AA / Aa / AA
TARGET CORP 0.1% A / A / A
TEXAS INSTRUMENTS INC 0.2% A / Aa / NR

THE BANK OF NEW YORK MELLON

CORPORATION

1.3% A / A / AA
THE WALT DISNEY CORPORATION 0.8% A / A / A
TOYOTA MOTOR CORP 0.7% A / A / A
UNITEDHEALTH GROUP INC 0.4% A / A / A
USAA CAPITAL CORP 0.4% AA / Aa / NR
ABS 10.4%
AMERICAN EXPRESS CO 1.2% AAA / NR / AAA
BANK OF AMERICA CO 0.7% AAA / Aaa / AAA
CAPITAL ONE FINANCIAL CORP 1.4% AAA / NR / AAA
CARMAX AUTO OWNER TRUST 0.5% AAA / NR / AAA
CHASE ISSURANCE 0.8% AAA / NR / AAA
DISCOVER FINANCIAL SERVICES 1.7% AAA / Aaa / AAA
FIFTH THIRD AUTO TRUST 0.7% AAA / Aaa / NR
FORD CREDIT AUTO OWNER TRUST 0.2% AAA / NR / AAA

GM FINANCIAL CONSUMER AUTOMOBILE
TRUST

0.6% AAA / Aaa / AAA
HARLEY-DAVIDSON MOTORCYCLE TRUST 0.3% NR / Aaa / AAA
HONDA AUTO RECEIVABLES 0.9% AAA / Aaa / AAA
HYUNDAI AUTO RECEIVABLES 0.1% AAA / NR / AAA
NISSAN AUTO RECEIVABLES 0.5% AAA / Aaa / NR
TOYOTA MOTOR CORP 0.7% AAA / NR / AAA
100.0%Total
19 © PFM Asset Management LLC | pfmam.com
Portfolio Transactions
© PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
BUY
10/2/2023 10/4/2023 750,000.00 17325FBB3 CITIBANK NA CORP NOTES (CALLABLE) 5.80% 9/29/2028 746,884.48 5.92% 10/11/2023 10/19/2023 500,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 490,217.00 5.26% 10/25/2023 10/31/2023 375,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 364,559.51 5.60% 11/1/2023 11/8/2023 85,000.00 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 84,985.03 5.67% 11/14/2023 11/21/2023 180,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 179,986.52 5.14% 11/28/2023 12/7/2023 275,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 274,432.68 4.93% 12/1/2023 12/5/2023 1,200,000.00 91282CFZ9 US TREASURY NOTES 3.87% 11/30/2027 1,184,744.63 4.24% 12/6/2023 12/14/2023 400,000.00 3137HBC69 FHMS KJ48 A1 4.85% 5/1/2028 400,698.51 4.86% 12/7/2023 12/14/2023 180,000.00 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 179,975.83 4.98% Total BUY 3,945,000.00 3,906,484.19 0.00

INTEREST
10/1/2023 10/1/2023 300,000.00 808513BW4 CHARLES SCHWAB CORP NOTES (CALLABLE) 3.30% 4/1/2027 4,950.00 10/1/2023 10/25/2023 380,000.00 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 1,059.88 10/1/2023 10/25/2023 275,000.00 3137BNGT5 FHMS K054 A2 2.74% 1/1/2026 629.06 10/1/2023 10/25/2023 550,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 2,208.71 10/1/2023 10/25/2023 500,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 2,000.00 10/1/2023 10/25/2023 550,000.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 1,477.67 20 © PFM Asset Management LLC pfmam.com

INTEREST
10/1/2023 10/25/2023 550,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 1,920.42 10/1/2023 10/25/2023 550,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 1,486.38 10/1/2023 10/25/2023 550,000.00 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 1,215.96 10/1/2023 10/25/2023 439,574.59 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,749.87 10/1/2023 10/25/2023 800,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 3,100.00 10/1/2023 10/25/2023 250,000.00 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 637.92 10/14/2023 10/14/2023 350,000.00 3130AJHU6 FEDERAL HOME LOAN BANK NOTES 0.50% 4/14/2025 875.00 10/15/2023 10/15/2023 490,000.00 14041NGD7 COMET 2023-A1 A 4.42% 5/15/2028 1,804.83 10/15/2023 10/15/2023 190,000.00 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 771.08 10/15/2023 10/15/2023 410,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 1,548.66 10/15/2023 10/15/2023 405,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 1,741.50 10/15/2023 10/15/2023 245,000.00 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 945.29 10/15/2023 10/15/2023 32,583.46 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 10.32 10/15/2023 10/15/2023 350,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 1,612.92 10/15/2023 10/15/2023 210,000.00 14318MAD1 CARMX 2022-3 A3 3.97% 4/15/2027 694.75 10/15/2023 10/15/2023 320,000.00 254683CY9 DCENT 2023-A1 A 4.31% 3/15/2028 1,149.33 10/15/2023 10/15/2023 174,780.61 65480BAC1 NAROT 2021-A A3 0.33% 10/15/2025 48.06 21 © PFM Asset Management LLC pfmam.com

INTEREST
10/15/2023 10/15/2023 245,000.00 14041NGB1 COMET 2022-A3 A 4.95% 10/15/2027 1,010.63 10/15/2023 10/15/2023 170,000.00 05522RDG0 BACCT 2023-A1 A1 4.79% 5/15/2028 678.58 10/15/2023 10/15/2023 140,000.00 65480JAC4 NAROT 2022-B A3 4.46% 5/17/2027 520.33 10/15/2023 10/15/2023 195,000.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 94.25 10/15/2023 10/15/2023 68,549.39 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 42.27 10/15/2023 10/15/2023 170,000.00 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 715.42 10/15/2023 10/15/2023 25,000.00 437076CM2 HOME DEPOT INC (CALLABLE) CORPORATE NOTE 2.70% 4/15/2025 337.50 10/15/2023 10/15/2023 176,061.06 89190GAC1 TAOT 2021-B A3 0.26% 11/17/2025 38.15 10/15/2023 10/15/2023 130,000.00 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 503.75 10/15/2023 10/15/2023 350,000.00 254683CZ6 DCENT 2023-A2 A 4.93% 6/15/2028 1,437.92 10/15/2023 10/15/2023 57,634.38 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 24.97 10/16/2023 10/16/2023 275,000.00 36265QAD8 GMCAR 2022-4 A3 4.82% 8/16/2027 1,104.58 10/16/2023 10/16/2023 73,291.67 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 41.53 10/18/2023 10/18/2023 320,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 1,442.67 10/20/2023 10/20/2023 7,905.67 380144AD7 GMALT 2021-2 A4 0.41% 5/20/2025 2.70 10/21/2023 10/21/2023 85,713.92 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 62.86 10/22/2023 10/22/2023 350,000.00 3135G03U5 FANNIE MAE NOTES 0.62% 4/22/2025 1,093.75 22 © PFM Asset Management LLC pfmam.com

INTEREST
10/25/2023 10/25/2023 450,000.00 89115B6K1 TORONTO DOMINION BANK NY CERT DEPOS 5.60% 10/27/2025 25,130.00 10/26/2023 10/26/2023 210,000.00 06406RAS6 BANK OF NY MELLON CORP NOTES (CALLABLE) 0.50% 4/26/2024 525.00 10/29/2023 10/29/2023 400,000.00 61746BDQ6 MORGAN STANLEY CORP NOTES 3.87% 4/29/2024 7,750.00 10/31/2023 10/31/2023 1,200,000.00 91282CEN7 US TREASURY NOTES 2.75% 4/30/2027 16,500.00 10/31/2023 10/31/2023 1,025,000.00 91282CBW0 US TREASURY NOTES 0.75% 4/30/2026 3,843.75 11/1/2023 11/1/2023 65,000.00 17252MAP5 CINTAS CORPORATION NO. 2 CORP NOTE (CALL 3.45% 5/1/2025 1,121.25 11/1/2023 11/1/2023 225,000.00 90327QD89 USAA CAPITAL CORP CORPORATE NOTES 3.37% 5/1/2025 3,796.88 11/1/2023 11/1/2023 85,000.00 13077DQD7 CA ST UNIV TXBL REV BONDS 0.86% 11/1/2025 366.35 11/1/2023 11/25/2023 550,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 2,208.71 11/1/2023 11/25/2023 500,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 1,975.00 11/1/2023 11/25/2023 550,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 1,920.42 11/1/2023 11/25/2023 275,000.00 3137BNGT5 FHMS K054 A2 2.74% 1/1/2026 629.06 11/1/2023 11/25/2023 247,236.53 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 630.87 11/1/2023 11/25/2023 500,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 2,000.00 11/1/2023 11/25/2023 439,312.38 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,748.83 11/1/2023 11/25/2023 550,000.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 1,477.67 11/1/2023 11/25/2023 800,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 3,100.00 23 © PFM Asset Management LLC pfmam.com

INTEREST
11/1/2023 11/25/2023 380,000.00 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 1,059.88 11/1/2023 11/25/2023 550,000.00 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 1,215.96 11/1/2023 11/25/2023 550,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 1,486.38 11/1/2023 11/25/2023 375,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 1,515.63 11/3/2023 11/3/2023 450,000.00 65558UYF3 NORDEA BANK ABP NEW YORK CERT DEPOS 5.53% 11/3/2025 12,442.50 11/7/2023 11/7/2023 650,000.00 3135G06G3 FANNIE MAE NOTES 0.50% 11/7/2025 1,625.00 11/15/2023 11/15/2023 140,000.00 65480JAC4 NAROT 2022-B A3 4.46% 5/17/2027 520.33 11/15/2023 11/15/2023 28,771.97 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 9.11 11/15/2023 11/15/2023 210,000.00 14318MAD1 CARMX 2022-3 A3 3.97% 4/15/2027 694.75 11/15/2023 11/15/2023 85,000.00 91412HGE7 UNIV OF CAL TXBL REV BONDS 0.88% 5/15/2025 375.28 11/15/2023 11/15/2023 63,922.68 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 39.42 11/15/2023 11/15/2023 490,000.00 14041NGD7 COMET 2023-A1 A 4.42% 5/15/2028 1,804.83 11/15/2023 11/15/2023 320,000.00 254683CY9 DCENT 2023-A1 A 4.31% 3/15/2028 1,149.33 11/15/2023 11/15/2023 225,000.00 91324PEC2 UNITEDHEALTH GROUP INC (CALLABLE) CORPOR 1.15% 5/15/2026 1,293.75 11/15/2023 11/15/2023 190,000.00 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 771.08 11/15/2023 11/15/2023 410,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 1,786.92 11/15/2023 11/15/2023 245,000.00 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 945.29 24 © PFM Asset Management LLC pfmam.com

INTEREST
11/15/2023 11/15/2023 245,000.00 14041NGB1 COMET 2022-A3 A 4.95% 10/15/2027 1,010.63 11/15/2023 11/15/2023 170,000.00 05522RDG0 BACCT 2023-A1 A1 4.79% 5/15/2028 678.58 11/15/2023 11/15/2023 130,000.00 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 503.75 11/15/2023 11/15/2023 52,946.61 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 22.94 11/15/2023 11/15/2023 161,204.86 89190GAC1 TAOT 2021-B A3 0.26% 11/17/2025 34.93 11/15/2023 11/15/2023 60,000.00 539830BZ1 LOCKHEED MARTIN CORP NOTES (CALLABLE) 4.45% 5/15/2028 1,260.83 11/15/2023 11/15/2023 170,000.00 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 715.42 11/15/2023 11/15/2023 12,825,000.00 912828U24 US TREASURY NOTES 2.00% 11/15/2026 128,250.00 11/15/2023 11/15/2023 195,000.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 94.25 11/15/2023 11/15/2023 350,000.00 254683CZ6 DCENT 2023-A2 A 4.93% 6/15/2028 1,437.92 11/15/2023 11/15/2023 350,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 1,612.92 11/15/2023 11/15/2023 225,000.00 369550BG2 GENERAL DYNAMICS CORP (CALLABLE) CORP NO 3.50% 5/15/2025 3,937.50 11/15/2023 11/15/2023 405,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 1,741.50 11/15/2023 11/15/2023 160,682.51 65480BAC1 NAROT 2021-A A3 0.33% 10/15/2025 44.19 11/16/2023 11/16/2023 69,087.56 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 39.15 11/16/2023 11/16/2023 275,000.00 36265QAD8 GMCAR 2022-4 A3 4.82% 8/16/2027 1,104.58 11/18/2023 11/18/2023 320,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 1,442.67 25 © PFM Asset Management LLC pfmam.com

INTEREST
11/21/2023 11/21/2023 80,224.67 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 58.83 12/1/2023 12/25/2023 550,000.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 1,477.67 12/1/2023 12/25/2023 550,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 2,208.71 12/1/2023 12/25/2023 550,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 1,486.38 12/1/2023 12/25/2023 500,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 1,975.00 12/1/2023 12/25/2023 439,089.13 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,747.94 12/1/2023 12/25/2023 800,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 3,100.00 12/1/2023 12/25/2023 375,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 1,515.63 12/1/2023 12/25/2023 500,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 2,000.00 12/1/2023 12/25/2023 550,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 1,920.42 12/1/2023 12/25/2023 246,832.58 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 629.83 12/1/2023 12/25/2023 550,000.00 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 1,215.96 12/1/2023 12/25/2023 275,000.00 3137BNGT5 FHMS K054 A2 2.74% 1/1/2026 629.06 12/1/2023 12/25/2023 180,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 760.35 12/1/2023 12/25/2023 380,000.00 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 1,059.88 12/1/2023 12/1/2023 315,000.00 46647PCH7 JPMORGAN CHASE & CO (CALLABLE) CORP NOTE 0.82% 6/1/2025 1,297.80 12/3/2023 12/3/2023 475,000.00 023135BQ8 AMAZON INC CORP NOTES (CALLABLE) 0.80% 6/3/2025 1,900.00 26 © PFM Asset Management LLC pfmam.com

INTEREST
12/6/2023 12/6/2023 225,000.00 06051GKE8 BANK OF AMERICA CORP NOTES (CALLABLE) 1.53% 12/6/2025 1,721.25 12/9/2023 12/9/2023 500,000.00 63254ABE7 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES 3.90% 6/9/2027 9,762.50 12/9/2023 12/9/2023 250,000.00 63254ABD9 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES 3.50% 6/9/2025 4,375.00 12/15/2023 12/15/2023 210,000.00 14318MAD1 CARMX 2022-3 A3 3.97% 4/15/2027 694.75 12/15/2023 12/15/2023 405,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 1,741.50 12/15/2023 12/15/2023 195,000.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 94.25 12/15/2023 12/15/2023 140,000.00 65480JAC4 NAROT 2022-B A3 4.46% 5/17/2027 520.33 12/15/2023 12/15/2023 245,000.00 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 945.29 12/15/2023 12/15/2023 190,000.00 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 771.08 12/15/2023 12/15/2023 50,000.00 63743HFE7 NATIONAL RURAL UTIL COOP CORPORATE NOTES 3.45% 6/15/2025 862.50 12/15/2023 12/15/2023 59,471.73 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 36.67 12/15/2023 12/15/2023 490,000.00 14041NGD7 COMET 2023-A1 A 4.42% 5/15/2028 1,804.83 12/15/2023 12/15/2023 320,000.00 254683CY9 DCENT 2023-A1 A 4.31% 3/15/2028 1,149.33 12/15/2023 12/15/2023 48,380.22 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 20.96 12/15/2023 12/15/2023 146,429.92 89190GAC1 TAOT 2021-B A3 0.26% 11/17/2025 31.73 12/15/2023 12/15/2023 410,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 1,786.92 12/15/2023 12/15/2023 146,397.68 65480BAC1 NAROT 2021-A A3 0.33% 10/15/2025 40.26 27 © PFM Asset Management LLC pfmam.com

INTEREST
12/15/2023 12/15/2023 130,000.00 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 503.75 12/15/2023 12/15/2023 170,000.00 05522RDG0 BACCT 2023-A1 A1 4.79% 5/15/2028 678.58 12/15/2023 12/15/2023 350,000.00 254683CZ6 DCENT 2023-A2 A 4.93% 6/15/2028 1,437.92 12/15/2023 12/15/2023 170,000.00 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 715.42 12/15/2023 12/15/2023 350,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 1,612.92 12/15/2023 12/15/2023 25,148.51 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 7.96 12/15/2023 12/15/2023 245,000.00 14041NGB1 COMET 2022-A3 A 4.95% 10/15/2027 1,010.63 12/16/2023 12/16/2023 65,083.25 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 36.88 12/16/2023 12/16/2023 275,000.00 36265QAD8 GMCAR 2022-4 A3 4.82% 8/16/2027 1,104.58 12/18/2023 12/18/2023 320,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 1,442.67 12/21/2023 12/21/2023 85,000.00 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 575.66 12/21/2023 12/21/2023 74,789.59 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 54.85 12/27/2023 12/27/2023 400,000.00 02665WCZ2 AMERICAN HONDA FINANCE CORP NOTE 2.40% 6/27/2024 4,800.00 12/31/2023 12/31/2023 50,000.00 912828YY0 US TREASURY NOTES 1.75% 12/31/2024 437.50 12/31/2023 12/31/2023 150,000.00 912828ZW3 US TREASURY NOTES 0.25% 6/30/2025 187.50 Total INTEREST 55,516,107.13 356,129.89 0.00
28 © PFM Asset Management LLC pfmam.com

MATURITY
10/16/2023 10/16/2023 325,000.00 3137EAEY1 FREDDIE MAC NOTES 0.12% 10/16/2023 325,203.13 11/6/2023 11/6/2023 350,000.00 3137EAEZ8 FREDDIE MAC NOTES 0.25% 11/6/2023 350,437.50 11/24/2023 11/24/2023 500,000.00 459058JM6 INTL BK RECON & DEVELOP NOTES 0.25% 11/24/2023 500,625.00 11/27/2023 11/27/2023 325,000.00 3135G06H1 FANNIE MAE NOTES 0.25% 11/27/2023 325,406.25 12/4/2023 12/4/2023 300,000.00 3137EAFA2 FREDDIE MAC NOTES 0.25% 12/4/2023 300,375.00 Total MATURITY 1,800,000.00 1,802,046.88 0.00

PAYDOWNS
10/1/2023 10/25/2023 2,763.47 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 2,763.47 10/1/2023 10/25/2023 262.21 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 262.21 10/15/2023 10/15/2023 14,098.10 65480BAC1 NAROT 2021-A A3 0.33% 10/15/2025 14,098.10 10/15/2023 10/15/2023 14,856.20 89190GAC1 TAOT 2021-B A3 0.26% 11/17/2025 14,856.20 10/15/2023 10/15/2023 4,687.77 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 4,687.77 10/15/2023 10/15/2023 3,811.49 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 3,811.49 10/15/2023 10/15/2023 4,626.71 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 4,626.71 10/16/2023 10/16/2023 4,204.11 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 4,204.11 10/20/2023 10/20/2023 7,905.67 380144AD7 GMALT 2021-2 A4 0.41% 5/20/2025 7,905.67 10/21/2023 10/21/2023 5,489.25 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 5,489.25 29 © PFM Asset Management LLC pfmam.com

PAYDOWNS
11/1/2023 11/25/2023 403.95 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 403.95 11/1/2023 11/25/2023 223.25 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 223.25 11/15/2023 11/15/2023 14,774.94 89190GAC1 TAOT 2021-B A3 0.26% 11/17/2025 14,774.94 11/15/2023 11/15/2023 14,284.83 65480BAC1 NAROT 2021-A A3 0.33% 10/15/2025 14,284.83 11/15/2023 11/15/2023 3,623.46 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 3,623.46 11/15/2023 11/15/2023 4,566.39 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 4,566.39 11/15/2023 11/15/2023 4,450.95 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 4,450.95 11/16/2023 11/16/2023 4,004.31 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 4,004.31 11/21/2023 11/21/2023 5,435.08 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 5,435.08 12/1/2023 12/25/2023 274.15 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 274.15 12/1/2023 12/25/2023 567.98 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 567.98 12/1/2023 12/25/2023 429.34 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 429.34 12/15/2023 12/15/2023 4,230.59 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 4,230.59 12/15/2023 12/15/2023 14,054.09 89190GAC1 TAOT 2021-B A3 0.26% 11/17/2025 14,054.09 12/15/2023 12/15/2023 4,352.81 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 4,352.81 12/15/2023 12/15/2023 13,092.31 65480BAC1 NAROT 2021-A A3 0.33% 10/15/2025 13,092.31 12/15/2023 12/15/2023 3,458.34 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 3,458.34 30 © PFM Asset Management LLC pfmam.com

PAYDOWNS
12/16/2023 12/16/2023 3,846.27 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 3,846.27 12/21/2023 12/21/2023 5,134.38 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 5,134.38 Total PAYDOWNS 163,912.40 163,912.40 0.00
SELL
10/2/2023 10/4/2023 200,000.00 91282CBC4 US TREASURY NOTES 0.37% 12/31/2025 180,765.96 -16,483.37 10/2/2023 10/4/2023 225,000.00 172967JP7 CITIGROUP INC CORP NOTES 3.30% 4/27/2025 219,017.63 -17,534.70 10/2/2023 10/4/2023 400,000.00 91282CBC4 US TREASURY NOTES 0.37% 12/31/2025 361,531.94 -32,228.42 10/11/2023 10/18/2023 50,000.00 91282CDV0 US TREASURY NOTES 0.87% 1/31/2024 49,457.20 -108.60 10/16/2023 10/19/2023 50,000.00 91282CDV0 US TREASURY NOTES 0.87% 1/31/2024 49,464.25 -107.77 10/26/2023 10/31/2023 250,000.00 912828YY0 US TREASURY NOTES 1.75% 12/31/2024 241,472.07 -14,562.35 12/7/2023 12/14/2023 300,000.00 91282CDV0 US TREASURY NOTES 0.87% 1/31/2024 299,212.30 -309.26 12/7/2023 12/14/2023 100,000.00 912828YY0 US TREASURY NOTES 1.75% 12/31/2024 97,485.57 -4,948.99 12/7/2023 12/14/2023 175,000.00 91282CBW0 US TREASURY NOTES 0.75% 4/30/2026 160,851.03 -11,956.79 Total SELL 1,750,000.00 1 ,659,257.95 -98,240.25
31 © PFM Asset Management LLC | pfmam.com
Portfolio Holdings
© PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Portfolio Holdings
|
Managed Account Detail of Securities Held
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury

US TREASURY NOTES
DTD 12/31/2019 1.750% 12/31/2024
912828YY0 50,000.00 AA+ Aaa 8/5/2020 8/7/2020 53,441.41 0.18 2.40 48,523.4450,781.65

US TREASURY NOTES
DTD 06/30/2020 0.250% 06/30/2025
912828ZW3 150,000.00 AA+ Aaa 4/1/2021 4/5/2021 147,093.75 0.72 1.03 140,859.38148,974.26

US TREASURY NOTES
DTD 04/30/2021 0.750% 04/30/2026
91282CBW0 75,000.00 AA+ Aaa 2/10/2022 2/14/2022 71,458.01 1.92 95.81 69,386.7173,039.91

US TREASURY NOTES
DTD 04/30/2021 0.750% 04/30/2026
91282CBW0 775,000.00 AA+ Aaa 1/4/2022 1/6/2022 756,109.37 1.33 990.04 716,996.06764,805.06

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
91282CCP4 800,000.00 AA+ Aaa 7/5/2022 7/8/2022 732,343.75 2.84 2,092.39 732,750.00757,053.78

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
91282CCP4 200,000.00 AA+ Aaa 9/1/2022 9/6/2022 179,007.81 3.53 523.10 183,187.50186,113.31

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
91282CCP4 900,000.00 AA+ Aaa 6/2/2022 6/6/2022 819,035.16 2.94 2,353.94 824,343.75849,690.71

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
91282CCP4 250,000.00 AA+ Aaa 5/3/2022 5/5/2022 226,250.00 3.03 653.87 228,984.38235,547.48

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
91282CCP4 900,000.00 AA+ Aaa 8/8/2022 8/15/2022 819,562.50 3.04 2,353.94 824,343.75847,598.81

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
91282CCP4 750,000.00 AA+ Aaa 8/1/2022 8/4/2022 690,468.75 2.74 1,961.62 686,953.12711,511.02

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
912828U24 9,500,000.00 AA+ Aaa 1/13/2023 1/17/2023 8,922,578.13 3.72 24,532.97 8,983,437.509,066,727.08

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
912828U24 975,000.00 AA+ Aaa 1/4/2023 1/6/2023 907,092.77 3.96 2,517.86 921,984.38924,443.09

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
912828U24 2,100,000.00 AA+ Aaa 12/5/2022 12/7/2022 1,954,066.41 3.92 5,423.08 1,985,812.501,993,617.56

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
912828U24 250,000.00 AA+ Aaa 11/1/2022 11/4/2022 228,144.53 4.39 645.60 236,406.25234,425.01

US TREASURY NOTES
DTD 04/30/2022 2.750% 04/30/2027
91282CEN7 1,200,000.00 AA+ Aaa 1/31/2023 2/3/2023 1,155,421.88 3.70 5,620.88 1,154,625.001,164,988.74 32 © PFM Asset Management LLC pfmam.com

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
91282CFB2 825,000.00 AA+ Aaa 6/2/2023 6/6/2023 786,779.30 3.97 9,494.23 792,128.86792,048.51

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
91282CFB2 600,000.00 AA+ Aaa 7/3/2023 7/7/2023 565,640.63 4.30 6,904.89 576,093.72569,759.13

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
91282CFB2 375,000.00 AA+ Aaa 5/1/2023 5/5/2023 362,329.10 3.62 4,315.56 360,058.58364,301.77

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
91282CFB2 800,000.00 AA+ Aaa 3/2/2023 3/6/2023 746,531.25 4.44 9,206.52 768,124.96756,540.01

US TREASURY NOTES
DTD 11/30/2022 3.875% 11/30/2027
91282CFZ9 1,200,000.00 AA+ Aaa 12/1/2023 12/5/2023 1,184,109.38 4.24 4,065.57 1,197,937.441,184,404.05 22,675,000.00 21,307,463.89 83,755.30 21,432,937.28Security Type Sub-Total 3.59 21,676,370.94 Supranational

INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
4581X0DZ8 635,000.00 AAA Aaa 9/15/2021 9/23/2021 634,530.10 0.52 864.31 614,581.58634,885.95 635,000.00 634,530.10 864.31 614,581.58Security Type Sub-Total 0.52 634,885.95 Negotiable CD

TORONTO DOMINION BANK NY CERT
DEPOS
DTD 10/31/2022 5.600% 10/27/2025
89115B6K1 450,000.00 A A1 10/27/2022 10/31/2022 450,000.00 5.58 4,760.00 458,633.30450,000.00

NORDEA BANK ABP NEW YORK CERT
DEPOS
DTD 11/03/2022 5.530% 11/03/2025
65558UYF3 450,000.00 AA- Aa3 11/2/2022 11/3/2022 450,000.00 5.53 4,009.25 446,945.85450,000.00 900,000.00 900,000.00 8,769.25 905,579.15Security Type Sub-Total 5.56 900,000.00 Municipal

CT ST TXBL GO BONDS
DTD 06/11/2020 1.998% 07/01/2024
20772KJW0 60,000.00 AA- Aa3 5/29/2020 6/11/2020 60,000.00 2.00 599.40 58,998.6060,000.00

CHAFFEY UHSD, CA TXBL GO BONDS
DTD 12/05/2019 2.101% 08/01/2024
157411TK5 100,000.00 AA- Aa1 11/6/2019 12/5/2019 100,000.00 2.10 875.42 98,242.00100,000.00 33 © PFM Asset Management LLC pfmam.com

NY ST URBAN DEV CORP TXBL REV
BONDS
DTD 12/23/2020 0.870% 03/15/2025
650036DT0 325,000.00 NR NR 12/16/2020 12/23/2020 325,000.00 0.87 832.54 308,376.25325,000.00

UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 85,000.00 AA Aa2 7/10/2020 7/16/2020 85,000.00 0.88 95.90 80,679.4585,000.00

FL ST BOARD OF ADMIN TXBL REV
BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 65,000.00 AA Aa3 9/3/2020 9/16/2020 65,459.55 1.11 408.85 61,727.2565,143.72

FL ST BOARD OF ADMIN TXBL REV
BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 85,000.00 AA Aa3 9/3/2020 9/16/2020 85,563.55 1.12 534.65 80,720.2585,176.25

FL ST BOARD OF ADMIN TXBL REV
BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 160,000.00 AA Aa3 9/3/2020 9/16/2020 160,000.00 1.26 1,006.40 151,944.00160,000.00

SAN JUAN USD, CA TXBL GO BONDS
DTD 10/29/2020 0.852% 08/01/2025
798306WP7 130,000.00 NR Aa2 10/16/2020 10/29/2020 130,000.00 0.85 461.50 122,638.10130,000.00

LOS ANGELES CCD, CA TXBL GO
BONDS
DTD 11/10/2020 0.773% 08/01/2025
54438CYK2 140,000.00 AA+ Aaa 10/30/2020 11/10/2020 140,000.00 0.77 450.92 131,584.60140,000.00

MN ST TXBL GO BONDS
DTD 08/25/2020 0.630% 08/01/2025
60412AVJ9 100,000.00 AAA Aaa 8/11/2020 8/25/2020 100,000.00 0.63 262.50 94,005.00100,000.00

CA ST UNIV TXBL REV BONDS
DTD 07/29/2021 0.862% 11/01/2025
13077DQD7 85,000.00 AA- Aa2 7/9/2021 7/29/2021 85,000.00 0.86 122.12 79,352.6085,000.00

CA ST MUNICIPAL BONDS
DTD 03/15/2023 4.846% 03/01/2027
13063D3N6 200,000.00 AA- Aa2 3/9/2023 3/15/2023 200,000.00 4.85 3,230.67 202,548.00200,000.00 1,535,000.00 1,536,023.10 8,880.87 1,470,816.10Security Type Sub-Total 1.58 1,535,319.97 Joint Powers Authority
CAMP Pool 116,772.96 AAAm NR 116,772.96 0.00 116,772.96 116,772.96 116,772.96 116,772.96 0.00 116,772.96Security Type Sub-Total 116,772.96 34 © PFM Asset Management LLC pfmam.com

FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025
3130AJHU6 350,000.00 AA+ Aaa 4/15/2020 4/16/2020 348,264.00 0.60 374.31 332,520.30349,553.63

FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 350,000.00 AA+ Aaa 4/22/2020 4/24/2020 349,279.00 0.67 419.27 332,732.05349,811.45

FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
3137EAEU9 425,000.00 AA+ Aaa 7/21/2020 7/23/2020 422,883.50 0.48 708.33 399,351.68424,342.07

FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 350,000.00 AA+ Aaa 8/25/2020 8/27/2020 348,362.00 0.47 459.38 327,743.50349,459.39

FEDERAL HOME LOAN BANK NOTES
DTD 09/11/2020 0.375% 09/04/2025
3130AK5E2 150,000.00 AA+ Aaa 9/10/2020 9/11/2020 149,550.00 0.44 182.81 140,413.65149,848.60

FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
3137EAEX3 700,000.00 AA+ Aaa 9/23/2020 9/25/2020 697,893.00 0.44 714.58 653,903.60699,271.10

FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
3135G06G3 650,000.00 AA+ Aaa 11/9/2020 11/12/2020 647,673.00 0.57 487.50 606,037.25649,136.16 2,975,000.00 2,963,904.50 3,346.18 2,792,702.03Security Type Sub-Total 0.52 2,971,422.40 Corporate

PNC BANK NA CORP NOTES
(CALLABLE)
DTD 01/23/2019 3.500% 01/23/2024
693475AV7 400,000.00 A- A3 2/12/2019 2/15/2019 402,848.00 3.34 6,144.44 399,574.80400,000.00

CHARLES SCHWAB CORP NOTES
(CALLABLE)
DTD 03/18/2021 0.750% 03/18/2024
808513BN4 105,000.00 A- A2 3/16/2021 3/18/2021 104,947.50 0.77 225.31 103,883.33104,996.31

BANK OF NY MELLON CORP NOTES
(CALLABLE)
DTD 04/26/2021 0.500% 04/26/2024
06406RAS6 210,000.00 A A1 4/19/2021 4/26/2021 209,775.30 0.54 189.58 206,645.25209,976.22

MORGAN STANLEY CORP NOTES
DTD 04/28/2014 3.875% 04/29/2024
61746BDQ6 400,000.00 A- A1 7/19/2019 7/23/2019 422,916.00 2.59 2,669.44 397,572.00401,565.44

AMERICAN HONDA FINANCE CORP
NOTE
DTD 06/27/2019 2.400% 06/27/2024
02665WCZ2 400,000.00 A- A3 7/11/2019 7/15/2019 398,016.00 2.51 106.67 394,030.80399,804.78

GOLDMAN SACHS GROUP INC
(CALLABLE) BONDS
DTD 07/08/2014 3.850% 07/08/2024
38141EC23 400,000.00 BBB+ A2 7/8/2019 7/11/2019 418,632.00 2.84 7,400.56 396,079.60401,053.63 35 © PFM Asset Management LLC pfmam.com

BMW US CAPITAL LLC CORPORATE
NOTES
DTD 08/12/2021 0.750% 08/12/2024
05565EBU8 70,000.00 A A2 8/9/2021 8/12/2021 69,993.70 0.75 202.71 68,080.1869,998.71

WALT DISNEY COMPANY/THE
(CALLABLE)
DTD 09/06/2019 1.750% 08/30/2024
254687FK7 400,000.00 A- A2 9/3/2019 9/6/2019 398,368.00 1.84 2,352.78 390,472.00399,783.00

PACCAR FINANCIAL CORP

CORPORATE NOTES
DTD 02/06/2020 1.800% 02/06/2025
69371RQ66 175,000.00 A+ A1 10/22/2020 10/29/2020 182,894.25 0.73 1,268.75 169,285.73177,032.98

AMERICAN EXPRESS CO CORP

NOTES (CALLABLE
DTD 03/04/2022 2.250% 03/04/2025
025816CQ0 80,000.00 BBB+ A2 3/1/2022 3/4/2022 79,919.20 2.29 585.00 77,427.6079,968.45

ROCHE HOLDINGS INC (CALLABLE)

CORPORATE
DTD 03/10/2022 2.132% 03/10/2025
771196BT8 410,000.00 AA Aa2 3/3/2022 3/10/2022 410,000.00 2.13 2,695.20 397,900.49410,000.00

HOME DEPOT INC (CALLABLE)

CORPORATE NOTE
DTD 03/28/2022 2.700% 04/15/2025
437076CM2 25,000.00 A A2 3/24/2022 3/28/2022 24,956.25 2.76 142.50 24,381.6324,981.54

USAA CAPITAL CORP CORPORATE
NOTES
DTD 05/26/2022 3.375% 05/01/2025
90327QD89 225,000.00 AA Aa1 5/23/2022 5/26/2022 224,264.25 3.49 1,265.63 220,595.85224,666.13 CINTAS CORPORATION NO. 2 CORP

NOTE (CALL
DTD 05/03/2022 3.450% 05/01/2025
17252MAP5 65,000.00 A- A3 4/26/2022 5/3/2022 64,985.70 3.46 373.75 63,830.3964,993.65

GENERAL DYNAMICS CORP
(CALLABLE) CORP NO
DTD 05/11/2018 3.500% 05/15/2025
369550BG2 225,000.00 A- A3 10/16/2020 10/20/2020 252,247.50 0.80 1,006.25 220,957.65232,443.47

JPMORGAN CHASE & CO (CALLABLE)

CORP NOTE
DTD 06/01/2021 0.824% 06/01/2025
46647PCH7 315,000.00 A- A1 5/24/2021 6/1/2021 315,000.00 0.82 216.30 309,543.57315,000.00

AMAZON INC CORP NOTES
(CALLABLE)
DTD 06/03/2020 0.800% 06/03/2025
023135BQ8 475,000.00 AA A1 6/3/2020 6/5/2020 474,767.25 0.81 295.56 450,045.88474,933.77

NATIONAL AUSTRALIA BK/NY

CORPORATE NOTES
DTD 06/09/2022 3.500% 06/09/2025
63254ABD9 250,000.00 AA- Aa3 5/31/2022 6/9/2022 250,000.00 3.50 534.72 245,772.50250,000.00 36 © PFM Asset Management LLC pfmam.com

NATIONAL RURAL UTIL COOP

CORPORATE NOTES
DTD 05/04/2022 3.450% 06/15/2025
63743HFE7 50,000.00 A- A2 4/27/2022 5/4/2022 49,986.50 3.46 76.67 48,968.0549,993.70

IBM CORP CORPORATE NOTES
DTD 07/27/2022 4.000% 07/27/2025
459200KS9 225,000.00 A- A3 7/20/2022 7/27/2022 225,000.00 4.00 3,850.00 222,493.28225,000.00

BANK OF AMERICA CORP NOTES
DTD 07/30/2015 3.875% 08/01/2025
06051GFS3 225,000.00 A- A1 8/18/2020 8/20/2020 256,918.50 0.93 3,632.81 222,185.03235,209.68

ABBOTT LABORATORIES

CORPORATE NOTES (CAL
DTD 03/22/2017 3.875% 09/15/2025
002824BM1 225,000.00 AA- Aa3 9/24/2020 9/28/2020 257,845.50 0.86 2,567.19 222,583.05235,134.20

BANK OF AMERICA CORP NOTES
(CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025
06051GKE8 225,000.00 A- A1 12/1/2021 12/6/2021 225,000.00 1.53 239.06 216,295.43225,000.00

JPMORGAN CHASE & CO CORP

NOTES (CALLABLE
DTD 02/24/2022 2.595% 02/24/2026
46647PCV6 175,000.00 A- A1 2/16/2022 2/24/2022 175,000.00 2.60 1,602.05 169,541.93175,000.00

UNITEDHEALTH GROUP INC
(CALLABLE) CORPOR
DTD 05/19/2021 1.150% 05/15/2026
91324PEC2 225,000.00 A+ A2 5/17/2021 5/19/2021 224,608.50 1.19 330.63 208,299.60224,814.13

BMW US CAPITAL LLC (CALLABLE)

CORPORATE
DTD 08/12/2021 1.250% 08/12/2026
05565EBW4 175,000.00 A A2 8/12/2021 8/16/2021 174,947.50 1.26 844.62 160,218.63174,972.51

CATERPILLAR FINL SERVICE

CORPORATE NOTES
DTD 01/10/2022 1.700% 01/08/2027
14913R2U0 225,000.00 A A2 1/11/2022 1/13/2022 223,863.75 1.81 1,838.13 207,993.83224,311.76

TARGET CORP CORP NOTES
(CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 40,000.00 A A2 1/19/2022 1/24/2022 39,932.00 1.99 359.67 37,327.2839,958.46

BANK OF NY MELLON CORP
(CALLABLE) CORPOR
DTD 01/26/2022 2.050% 01/26/2027
06406RBA4 475,000.00 A A1 1/26/2022 1/28/2022 473,945.50 2.10 4,192.53 441,818.88474,351.92

MICROSOFT CORP CORP NOTES
(CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
594918BY9 750,000.00 AAA Aaa 3/14/2023 3/17/2023 721,942.50 4.36 9,968.75 730,581.75727,664.49 37 © PFM Asset Management LLC pfmam.com

AMERICAN EXPRESS CO CORP

NOTES (CALLABLE
DTD 03/04/2022 2.550% 03/04/2027
025816CS6 300,000.00 BBB+ A2 1/13/2023 1/18/2023 277,203.00 4.59 2,486.25 280,753.50282,470.83

BERKSHIRE HATHAWAY CORP NOTES
(CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027
084664CZ2 475,000.00 AA Aa2 3/15/2022 3/17/2022 466,089.00 2.70 3,216.81 447,941.15469,288.95

CHARLES SCHWAB CORP NOTES
(CALLABLE)
DTD 09/24/2021 3.300% 04/01/2027
808513BW4 300,000.00 A- A2 2/17/2023 2/22/2023 284,925.00 4.66 2,475.00 285,968.70288,072.75

NATIONAL AUSTRALIA BK/NY

CORPORATE NOTES
DTD 06/09/2022 3.905% 06/09/2027
63254ABE7 500,000.00 AA- Aa3 1/13/2023 1/18/2023 488,325.00 4.50 1,193.19 489,165.50490,859.56

APPLE INC (CALLABLE) BONDS
DTD 09/12/2017 2.900% 09/12/2027
037833DB3 775,000.00 AA+ Aaa 1/19/2023 1/23/2023 741,062.75 3.94 6,804.93 742,405.83747,938.40

TOYOTA MOTOR CREDIT CORP

CORPORATE NOTES
DTD 01/12/2023 4.625% 01/12/2028
89236TKQ7 375,000.00 A+ A1 2/8/2023 2/10/2023 376,282.50 4.55 8,141.93 379,230.38376,050.55

NATIONAL RURAL UTIL COOP CORP

NOTES (CAL
DTD 02/07/2018 3.400% 02/07/2028
637432NP6 350,000.00 A- A1 2/17/2023 2/22/2023 329,189.00 4.76 4,760.00 334,339.60332,785.82

TEXAS INSTRUMENTS INC CORP

NOTE (CALLABL
DTD 11/18/2022 4.600% 02/15/2028
882508BV5 85,000.00 A+ Aa3 5/11/2023 5/18/2023 87,043.40 4.04 1,477.11 86,368.5986,769.83

BRISTOL-MYERS SQUIBB CO CORP

NOTES (CALL
DTD 07/15/2020 3.900% 02/20/2028
110122DE5 375,000.00 A A2 3/9/2023 3/13/2023 358,263.75 4.93 5,321.88 368,560.88360,989.77

LOCKHEED MARTIN CORP NOTES
(CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
539830BZ1 60,000.00 A- A2 5/23/2023 5/25/2023 59,892.00 4.49 341.17 60,281.7659,905.14

JOHN DEERE CAPITAL CORP

CORPORATE NOTES
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 375,000.00 A A2 7/21/2023 7/25/2023 377,865.00 4.78 8,610.94 384,516.00377,612.58 38 © PFM Asset Management LLC pfmam.com

CITIBANK NA CORP NOTES
(CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
17325FBB3 750,000.00 A+ Aa3 10/2/2023 10/4/2023 746,280.00 5.92 11,122.42 780,822.75746,438.29 12,365,000.00 12,345,941.55 113,128.89 12,064,740.63Security Type Sub-Total 3.13 12,271,791.40 Agency CMBS
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24 246,403.24 AA+ Aaa 3/19/2020 3/25/2020 258,607.89 1.95 628.74 241,470.71248,791.42 FHMS K054 A2
DTD 04/20/2016 2.745% 01/01/2026
3137BNGT5 275,000.00 AA+ Aaa 4/11/2023 4/14/2023 263,613.28 4.37 629.06 265,159.80266,617.63 FHMS K058 A2
DTD 11/09/2016 2.653% 08/01/2026
3137BSP72 550,000.00 AA+ Aaa 4/6/2023 4/12/2023 526,839.84 4.02 1,215.96 525,101.46531,905.53 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
3137BTUM1 379,432.02 AA+ Aaa 5/19/2023 5/24/2023 367,752.63 4.31 1,058.30 368,373.42369,815.34 FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
3137BXQY1 550,000.00 AA+ Aaa 8/16/2023 8/18/2023 518,804.69 4.98 1,477.67 531,336.07522,090.95

FHLMC MULTIFAMILY STRUCTURED P
DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 550,000.00 AA+ Aaa 6/8/2023 6/13/2023 527,033.20 4.44 1,486.38 530,852.51530,375.63 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
3137HBC69 400,000.00 AA+ Aaa 12/6/2023 12/14/2023 399,996.80 4.86 1,619.33 405,352.19399,996.83 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 550,000.00 AA+ Aaa 7/13/2023 7/20/2023 555,493.40 4.59 2,208.71 559,019.43554,983.61 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 438,814.98 AA+ Aaa 7/19/2023 7/27/2023 438,804.03 4.78 1,746.85 440,732.53438,805.01 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
3136BQDE6 550,000.00 AA+ Aaa 7/18/2023 7/31/2023 540,675.78 4.58 1,920.42 546,132.14541,474.85 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 800,000.00 AA+ Aaa 9/7/2023 9/14/2023 788,165.60 4.99 3,100.00 809,248.43788,806.98 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 500,000.00 AA+ Aaa 10/11/2023 10/19/2023 489,032.00 5.26 1,975.00 507,553.87489,440.69 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 500,000.00 AA+ Aaa 9/20/2023 9/28/2023 494,023.50 5.07 2,000.00 509,185.98494,301.33 39 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Agency CMBS
FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 375,000.00 AA+ Aaa 10/25/2023 10/31/2023 363,043.88 5.60 1,515.63 382,526.16363,410.25 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 275,000.00 AA+ Aaa 11/28/2023 12/7/2023 274,209.93 4.93 1,113.75 280,826.30274,219.71 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 180,000.00 AA+ Aaa 11/14/2023 11/21/2023 179,479.62 5.14 760.35 185,097.21179,490.12 7,119,650.24 6,985,576.07 24,456.15 7,087,968.21Security Type Sub-Total 4.69 6,994,525.88 ABS
HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 21,690.17 AAA NR 4/20/2021 4/28/2021 21,687.89 0.38 3.66 21,394.0721,689.28 NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
65480BAC1 133,305.37 AAA Aaa 6/15/2021 6/23/2021 133,303.10 0.33 19.55 130,387.22133,304.43 TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
89190GAC1 132,375.83 AAA NR 6/8/2021 6/14/2021 132,361.56 0.26 15.30 129,378.38132,369.78 HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
43815GAC3 69,655.21 NR Aaa 11/16/2021 11/24/2021 69,640.53 0.89 17.03 67,579.0969,647.95 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 44,027.41 AAA NR 4/13/2021 4/21/2021 44,017.91 0.52 10.18 43,051.2344,023.22 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 55,241.14 AAA NR 11/9/2021 11/17/2021 55,228.80 0.75 18.17 53,766.5655,234.63 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
254683CP8 195,000.00 AAA Aaa 9/20/2021 9/27/2021 194,958.25 0.58 50.27 188,543.45194,977.26 GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
362554AC1 61,236.98 AAA Aaa 10/13/2021 10/21/2021 61,235.41 0.68 17.35 59,216.8361,236.11 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
14318MAD1 210,000.00 AAA NR 7/12/2022 7/20/2022 209,995.04 3.97 370.53 207,139.07209,996.56 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
65480JAC4 140,000.00 AAA Aaa 9/20/2022 9/28/2022 139,971.03 4.46 277.51 139,020.59139,978.91 GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
36265QAD8 275,000.00 AAA NR 10/4/2022 10/12/2022 274,954.93 4.82 552.29 273,901.27274,966.29 TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
891940AC2 245,000.00 AAA NR 1/24/2023 1/30/2023 244,999.88 4.63 504.16 243,659.48244,999.90 40 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Portfolio Holdings
|
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
14041NGB1 245,000.00 AAA NR 10/27/2022 11/3/2022 244,961.56 4.95 539.00 246,024.61244,970.58 HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
41285JAD0 170,000.00 NR Aaa 2/13/2023 2/23/2023 169,982.88 5.05 381.56 169,586.32169,985.92 FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
344928AD8 130,000.00 AAA NR 3/28/2023 3/31/2023 129,986.44 4.65 268.67 129,403.27129,988.54 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
43815QAC1 320,000.00 AAA NR 8/15/2023 8/22/2023 319,934.02 5.42 625.16 324,447.46319,939.33 DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
254683CY9 320,000.00 NR Aaa 4/4/2023 4/11/2023 319,981.44 4.31 612.98 317,760.99319,984.17 AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
02582JJZ4 190,000.00 AAA NR 6/7/2023 6/14/2023 189,983.15 4.87 411.24 191,464.35189,985.03 COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
14041NGD7 490,000.00 AAA NR 5/17/2023 5/24/2023 489,887.64 4.43 962.58 487,976.84489,901.36 BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
05522RDG0 170,000.00 AAA NR 6/8/2023 6/16/2023 169,961.51 4.79 361.91 170,556.34169,965.78 DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
254683CZ6 350,000.00 AAA Aaa 6/21/2023 6/28/2023 349,952.72 4.93 766.89 352,800.39349,957.59 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
438123AC5 85,000.00 NR Aaa 11/1/2023 11/8/2023 84,985.03 5.67 133.88 86,794.1984,985.45 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 350,000.00 AAA Aaa 8/15/2023 8/23/2023 349,978.30 5.53 860.22 353,832.05349,979.86 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
161571HT4 405,000.00 AAA NR 9/7/2023 9/15/2023 404,887.73 5.17 928.80 411,241.05404,893.60 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02582JKD1 410,000.00 AAA NR 9/12/2023 9/19/2023 409,981.67 5.23 953.02 417,045.97409,982.59 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 180,000.00 NR Aaa 12/7/2023 12/14/2023 179,975.83 4.98 423.30 181,861.99179,976.04 5,397,532.11 5,396,794.25 10,085.21 5,397,833.06Security Type Sub-Total 4.33 5,396,920.16 53,602,182.35 52,070,233.46 253,286.16 51,767,158.04Managed Account Sub Total Securities Sub Total
Accrued Interest
$53,718,955.31 $52,187,006.42 $253,286.16 $51,883,931.00 $253,286.16
52,381,236.70
$52,498,009.66

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Portfolio Holdings
|
Total Investments $52,137,217.16
42 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Appendix
|
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.

Investment advisory services are provided by PFM Asset Management LLC ("PFMAM"), an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. ("USBAM"). USBAM is a subsidiary of U.S. Bank National Association ("U.S. Bank"). U.S. Bank is a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.

PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sources external to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements. While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to particular issuers are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion of the strategy rated by a NRSRO.

It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.

Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to be lower than the performance shown.

The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast, projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion as of the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and data presented are not necessarily indicative of future events or expected performance.

For more information regarding PFMAM's services or entities, please visit www.pfmam.com. © 2023 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. 43 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Appendix
|
Important Disclosures
This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the Trust's investment objectives, risks, charges, and expenses before investing in the Trust. This and other information about the Trust is available in the Trust's current Information Sheet, which should be read carefully before investing. A copy of the Trust's information Statement may be available by calling 1-800-729-7665 or is available on the Trust's website at www.camponline.com. While the Cash Reserve Portfolio seeks to maintain a stable net asset value of $1.00 per share and the CAMP TERM Portfolio seeks to achieve a net asset value of $1.00 per share at the stated maturity, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Trust are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.

Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Refinitiv, Bloomberg, or Telerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimated market value.

In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and forward settling sales are excluded.

Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns.

Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets.

Money market fund/cash balances are included in performance and duration computations.

Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.

Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Appendix
|
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.

Agencies: Federal agency securities and/or Government-sponsored enterprises.

Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.

Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans, leases, credit card balances, and receivables.

Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.

Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.

Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector added or subtracted from the overall portfolio performance.

Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.

Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compounding on investment returns, while nominal yield does not.

FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.

Interest Rate: Interest per year divided by principal amount and expressed as a percentage.

Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.

Maturity: The date upon which the principal or stated value of an investment becomes due and payable.

Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.

Par Value: The nominal dollar face amount of a security.

Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the mortgage-backed security.
45 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended December 31, 2023
Appendix
|
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.

Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments and maturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.

Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whose decisions are binding on its members.

Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.

Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.

U.S. Treasury: The department of the U.S. government that issues Treasury securities.

Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.

YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time period from purchase date to maturity, stated as a percentage on an annualized basis.

YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis. 46

Lake Elsinore City CouncilMarch 12, 2024

Lake Elsinore City Council
March 12, 2024