Attachment 1 - Investment Report for May 2024 — Lake Elsinore City Council, June 25, 2024

CITY OF LAKE ELSINORE

INVESTMENT REPORT

BANK DEPOSITS OUTSTANDING BOOK

CASH ACCOUNTS BALANCE IN TRANSIT PAYMENTS BALANCE
Bank Accounts:

General Checking Account 3,280,556 $ 54,674 $ (36,168) $ 3,299,062 $ Cash On Hand:

Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 2,000 Total Cash Accounts 3,280,556 54,674 (36,168) 3,301,362

INVESTMENTS
Local Agency Investment Funds 80,146,410 - - 80,146,410 CAMP Investments:

CAMP Pool Account 312,890 - - 312,890 U.S. Treasury Bond / Note 22,427,229 - - 22,427,229 Supra-National Agency Bond / Note - - - - Municipal Bond / Note 1,536,023 - - 1,536,023 Federal Agency Commercial Mortgage-Backed Security 7,268,584 - - 7,268,584 Federal Agency Bond / Note 2,266,362 - - 2,266,362 Corporate Note 12,318,206 - - 12,318,206 Certificate of Deposit 900,000 - - 900,000 Asset-Backed Security 5,651,825 - - 5,651,825 Sub-total Investments 132,827,528 - - 132,827,528 Market Value Adjustment:

Unrealized Gain/(Loss) at 4/30/2024 (921,476) - - (921,476) Total Investments 131,906,052 - - 131,906,052 Total Pooled Cash and Investments 135,186,608 $ 54,674 $ (36,168) $ 135,207,414$ TOTAL POOLED CASH AND INVESTMENTS 135,207,414$
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 June 10, 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 MAY 31, 2024

FUND NO FUND NAME AMOUNT
100 General 11,467,393 $
101 Supplemental Law Enforcement 61,904
102 Measure Z 21,353,122
106 Affordable Housing In Lieu 1,097,505
107 Developer Agreement Revenue 445,134
108 American Rescue Plan 5,412,593
109 Road Maintenance and Rehabilitation (SB1) 1,621,159 110 State Gas Tax 731,419
111 TUMF C.I.P. 63,146
112 Measure A 666,160
114 SB1186 CASP Education Program 67,120
115 Traffic Safety 14,788
116 City Hall-Public Works DIF 228,079
117 Community Center DIF 369,823
118 Lake Side Facility DIF 555,388
119 Animal Shelter DIF 129,212
121 T.R.I.P.-2014A 520
135 Lighting & Landscape Maintenance - Dist. No. 1 1,732,070 140 Geothermal 12,172
160 PEG Grant 1,922
202 La Strada RBBD 24,824
203 E.L.S.P. - S.T.I.F. 3,500,625
205 Traffic Impact Fee 541,551
211 Storm Drain C.I.P. 3,343,765
221 Quimby Park C.I.P. 85,312
231 Library C.I.P. 1,088,401
232 City Fire Protection 909,997
300 Insurance Service 1,060,204
305 Information Systems Service 3,288,138
310 Support Service 42,781
315 Fleet Service 313,451
320 Facilities Service 2,437,097
331 CFD 2006-1CC Summerly Improvement Area CC 147,548
332 CFD 2006-1 Improvement Area B, Summerly 117,929
333 CFD 2015-3 Terracina 407
334 CFD 2015-5 Trieste - Far West Industries 117,679
335 CFD 2003-2E Canyon Hills Improvement Area E 140,116 336 CFD 2006-1FF Summerly Improvement Area FF 140,079
337 CFD 2016-2 Canyon Hills 865,015
338 CFD 2006-1 IA-JJ Summerly Improvement Area 231,700
339 CFD 2006-1 IA-KK Summerly Improvement Area 178,533
340 CFD 2006-1 IA-EE Summerly Improvement Area 202,143
345 CFD 2003-2 Improvement Area D, Canyon Hills 1,572,185 346 CFD 2014-1 Southshore 70,752
347 CFD 2006-1 Improvement Area A, Summerly 185,608
350 CFD 98-1 Summerhill 936,076
351 CFD 2006-1 IA-II Summerly Improvement 235,053
354 CFD 90-2 Tuscany Hills 1,040,728
355 RAD 2021-1 Canyon Hills Improvement 897,038
357 CFD 2003-2 Canyon Hills Improvement Area 581,424
359 CFD 2021-1 IA-2 Tuscany Valley & Crest Improvement 343

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 MAY 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 MAY 31, 2024
361 CFD 2022-2 Lakeshore Improvement 14,286
362 CFD 2006-8S Running Deer Estates Services 29,902
363 CFD 2022-3 Lakeside 4,130
364 CFD 2023-2 Coastal Mission Trail Improvement 8,504
366 CFD 2005-6 City Center Townhomes 217,991
368 CFD 2006-2 Viscaya 452,031
369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 1,419,732 370 CFD 2006-1 IA-HH Summerly Improvement 218,024
371 CFD 2005-1 Serenity 535,291
372 CFD 2005-2 Alberhill Ranch Improvement Area 1,278,942 374 CFD 2005-4 Lakeview Villas 7,450
375 CFD 2006-4 Clurman 257,354
376 CFD 2006-3 La Strada 279
377 CFD 2006-6 Tessara 97,804
378 CFD 2006-8 Running Deer Estates 109,092
379 CFD 2022-1 Alberhill 328
384 CFD 2003-2 Area B Canyon Hills Improvement Area 1,587,369 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 1,470,529 386 CFD 2007-4 Mekenna Court 122,802
387 CFD 2007-5 Red Kite 96,008
388 CFD 2007-6 Holiday Inn Express 6,002
389 CFD 88-3 (2008A) West Lake Elsinore Series A 1,092
390 CFD 2003-2 Area C Canyon Hills Improvement Area 557,250 392 CFD 95-1 City Center 127,397
394 CFD 2005-5 (2012A) Wasson Canyon 239,473
395 CFD 2018-1 Wasson Canyon II Improvement Area 5,535
396 CFD 2018-2 Nichols Ranch Improvement Area 196,880
397 CFD 2018-3 Village at Lakeshore 234,287
500 Capital Improvement Plan 6,826,548
603 Endowment Trust - Carl Graves 63,232
604 Endowment Trust - Korn Memorial 34,976
605 Public Improvement Trust 1,781,152
606 Mobile Source Air Polution Reduction 97,628
608 Trust Deposit & Pre Paid Expense 1,550,171
617 Successor Agency Housing 34,634,195
620 Cost Recovery System 7,595,297
631 Lake Destratification Equipment Replacement 468,315 650 CFD 2003-1 Law & Fire Service 1,670,926
651 CFD 2006-5 Park & Open Space Service 55,735
652 CFD 2007-1 Law & Fire Service 54,989
653 CFD 2009-1 Parks & Lighting Service 377,556
655 CFD 2015-1s Law, Fire, Paramedic Services 373,802
Total Pooled Cash & Investments 135,207,414$

MAXIMUM DIVERSIFICATION CURRENT

TYPES OF SECURITIES PERCENTAGE PERCENTAGE BALANCE
CAMP - Pooled Sweep Account Unlimited 0.24% 312,890 $
U.S. Treasury Bond / Note Unlimited 16.88% 22,427,229 $ Supra-National Agency Bond / Note 30% 0.00% - $
Municipal Bond / Note Unlimited 1.16% 1,536,023 $
Federal Agency Collaterized Mortgage Obligation 40% 5.47% 7,268,58 4$ Federal Agency Bond / Note Unlimited 1.71% (1) 2,266,362$ Corporate Note 30% 9.27% 12,318,206 $
Negotiable Certificates of Deposit 30% 0.68% 900,000 $
Asset-Backed Security / Collaterized Mortgage 20% 4.26% 5,651,825 $ LAIF (Local Agency Investment Funds) $150 Million 60.34% (2) 80,146,410$ TOTAL 100.00% 132,827 ,528$
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 MAY 31, 2024

Local Agency Investment Fund

May 4.332
April 4.272
March 4.232
February 4.122
January 4.012
December 3.929
LAIF Apportionment Rate(2): 4.30
LAIF Earnings Ratio(2): 0.00011755619077389
LAIF Administrative Cost(1)*: 0.27
PMIA Average Life(1): 226
LAIF Fair Value Factor(1): 0.994191267
PMIA Daily(1): 4.22
PMIA Quarter to Date(1): 4.12
Treasuries

58.43%
Agencies

22.59%
Certificates of
Deposit/Bank Notes

8.84%
Time
Deposits

2.99%
Commercial
Paper

6.54%
Corporate
Bonds

0.41%
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 6/05/24
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 03/31/24
Chart does not include $1,969,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.

Pooled Money Investment Account
Monthly Portfolio Composition (1)
4/30/24
$171.5 billion

Yield Purchase Date Maturity Rate

4.332% Daily 24-Hour
Investment Beginning Balance Net Increase/(Decrease) Ending Balance Total Investments Held with
Local Agency Investment Fund: 71,646,410$ 8,500,000 $ 80,146,410 $ 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 MAY 31, 2024
CAMP
Investment Portfolio

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

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
276,870.70
2,441,662.77
(2,405,643.24)

0.00 $312,890.23
CAMP Pool
Unsettled Trades 0.00
886.23 Cash Dividends and Income
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
51,212,407.54
2,477,889.63
(2,284,141.28)
317,237.00
$51,723,392.89
CAMP Managed Account
Unsettled Trades 0.00
223,019.92 Cash Dividends and Income
May 31, 2024 April 30, 2024
Asset Summary
CAMP Pool 312,890.23 276,870.70
CAMP Managed Account 51,723,392.89 51,212,407.54
$52,036,283.12 $51,489,278.24 Total
Asset Allocation

0.60%
CAMP Pool

99.40%
CAMP Managed
Account

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For the Month Ending May 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
$276,870.70
2,441,662.77
(2,405,643.24)
$312,890.23
886.23
$51,212,407.54
(52,886.42)
(2,231,254.86)
2,477,889.63

0.00 317,237.00
$51,723,392.89
$51,489,278.24
$52,036,283.12
250,853.42
(17,842.39)
(9,991.11)
$223,019.92

0.00 2,140,629.49
246,979.79
52,886.42
(2,401,233.02)
(39,262.68)

0.00 Managed Account Total
52,688,139.35 53,001,029.58
261,969.47
2,140,629.49
153,054.42
246,979.79
(2,495,900.02)
(52,565,464.87)
(353,696.78)

0.00 261,969.47
4,546,272.73
153,054.42
246,979.79
(4,937,562.79)
(52,842,335.57)
(353,696.78)
886.23
Total Accrual Basis Earnings $75,710.85 $76,597.08
Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance
$0.00 Closing Cash Balance

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For the Month Ending May 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 23,500,000.00 22,346,848.36 42.95 Municipal Bond / Note 1,535,000.00 1,482,403.35 2.85 Federal Agency Commercial
Mortgage-Backed Security
7,399,748.80 7,229,881.87 13.89
Federal Agency Bond / Note 2,275,000.00 2,141,740.85 4.12 Corporate Note 12,360,000.00 12,005,540.77 23.07
Certificate of Deposit 900,000.00 901,633.58 1.73
Asset-Backed Security 5,652,638.78 5,615,344.11 10.79 Managed Account Sub-Total 53,622,387.58 51,723,392.89 99.40% Accrued Interest 261,969.47
Total Portfolio 53,622,387.58 51,985,362.36
CAMP Pool 312,890.23 312,890.23 0.60
Total Investments 53,935,277.81 52,298,252.59 100.00%
Unsettled Trades 0.00 0.00
Sector Allocation

10.79%
ABS

1.73%
Cert of Deposit

23.07%
Corporate Note

4.12%
Fed Agy Bond /
Note

13.89%
Federal Agency
Commercial
Mortgage-Backed
Security

0.60%
Joint Powers
Authority

2.85%
Muni Bond / Note

42.95%
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

2.41% 3.58%

12.17%

35.42%

27.76%

18.66%

0.00%
Maturity Distribution Characteristics
Yield to Maturity at Cost
Yield to Maturity at Market
Weighted Average Days to Maturity 1062

3.85%

4.87%

Page 3 ends

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

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

4.73%
A

3.80%
A+

4.14%
A-

3.65%
AA

62.61%
AA+

5.82%
AA-

10.84%
AAA

0.60%
AAAm

1.45%
BBB+

2.36%
NR
Issuer Summary
Percentof HoldingsIssuer
Market Value
221,233.73 0.43 ABBOTT LABORATORIES
374,324.63 0.72 ADOBE INC
335,156.70 0.64 AIR PRODUCTS & CHEMICALS
454,025.90 0.87 AMAZON.COM INC
1,454,019.75 2.79 AMERICAN EXPRESS CO
729,633.05 1.40 APPLE INC
788,605.02 1.52 BANK OF AMERICA CO
444,082.73 0.85 BERKSHIRE HATHAWAY INC
768,231.93 1.48 BLACKROCK INC
230,024.76 0.44 BMW FINANCIAL SERVICES NA LLC
361,947.38 0.70 BRISTOL-MYERS SQUIBB CO
79,998.60 0.15 CALIFORNIA STATE UNIVERSITY
312,890.23 0.60 CAMP Pool
725,356.45 1.39 CAPITAL ONE FINANCIAL CORP
224,342.52 0.43 CARMAX AUTO OWNER TRUST
207,038.93 0.40 CATERPILLAR INC
99,582.00 0.19 CHAFFEY JOINT UNION HIGH SCHOOL DISTRICT 285,198.60 0.55 CHARLES SCHWAB
404,067.97 0.78 CHASE ISSURANCE
63,827.27 0.12 CINTAS CORPORATION NO. 2
418,133.10 0.80 CISCO SYSTEMS INC
766,550.25 1.47 CITIGROUP INC
374,460.38 0.72 DEERE & COMPANY
854,383.09 1.64 DISCOVER FINANCIAL SERVICES
1,472,902.89 2.83 FANNIE MAE
141,365.85 0.27 FEDERAL HOME LOAN BANKS
349,752.73 0.67 FIFTH THIRD AUTO TRUST
296,322.80 0.57 FLORIDA STATE BOARD OF ADMIN FIN CORP 128,685.02 0.25 FORD CREDIT AUTO OWNER TRUST
7,757,353.98 14.92 FREDDIE MAC
221,198.40 0.43 GENERAL DYNAMICS CORP
314,038.78 0.60 GM FINANCIAL CONSUMER AUTOMOBILE TRUST

Page 4 ends

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

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Percentof HoldingsIssuer
Market Value
398,999.20 0.77 GOLDMAN SACHS GROUP INC
168,995.62 0.32 HARLEY-DAVIDSON MOTORCYCLE TRUST
24,429.28 0.05 HOME DEPOT INC
449,106.35 0.86 HONDA AUTO RECEIVABLES
38,955.07 0.07 HYUNDAI AUTO RECEIVABLES
221,285.25 0.43 IBM CORP
486,043.54 0.93 JP MORGAN CHASE & CO
58,985.22 0.11 LOCKHEED MARTIN CORP
132,788.60 0.26 LOS ANGELES COMMUNITY COLLEGE DISTRICT 722,223.75 1.39 MICROSOFT CORP
728,871.00 1.40 NATIONAL AUSTRALIA BANK LTD
379,153.30 0.73 NATIONAL RURAL UTILITIES CO FINANCE CORP 314,210.00 0.60 NEW YORK ST URBAN DEVELOPMENT CORP
206,400.43 0.40 NISSAN AUTO RECEIVABLES
450,740.25 0.87 NORDEA BANK ABP
170,687.65 0.33 PACCAR FINANCIAL CORP
399,812.32 0.77 ROCHE HOLDINGS INC
123,606.60 0.24 SAN JUAN UNIFIED SCHOOL DISTRICT
199,686.00 0.38 STATE OF CALIFORNIA
59,817.60 0.11 STATE OF CONNECTICUT
94,912.70 0.18 STATE OF MINNESOTA
37,199.28 0.07 TARGET CORP
84,177.20 0.16 TEXAS INSTRUMENTS INC
439,859.03 0.85 THE BANK OF NEW YORK MELLON CORPORATION 450,893.33 0.87 TORONTO-DOMINION BANK
677,701.39 1.30 TOYOTA MOTOR CORP
22,346,848.36 42.95 UNITED STATES TREASURY
208,615.50 0.40 UNITEDHEALTH GROUP INC
81,478.45 0.16 UNIVERSITY OF CALIFORNIA
221,065.43 0.42 USAA CAPITAL CORP
$52,036,283.12 Total 100.00%

Page 5 ends

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

US TREASURY NOTES
DTD 12/31/2019 1.750% 12/31/2024
48,992.19 50,456.14 367.79 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
47,468.75 49,753.27 52.54 49,031.25 04/05/2104/01/21AaaAA+ 50,000.00 912828ZW3 0.72

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
234,179.70 236,681.82 230.98 228,144.53 11/04/2211/01/22AaaAA+ 250,000.00 912828U24 4.39

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
913,300.83 931,768.78 900.81 907,092.77 01/06/2301/04/23AaaAA+ 975,000.00 912828U24 3.96

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
1,967,109.48 2,009,032.36 1,940.22 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
8,898,828.60 9,129,508.29 8,777.17 8,922,578.13 01/17/2301/13/23AaaAA+ 9,500,000.00 912828U24 3.72

US TREASURY NOTES
DTD 04/30/2022 2.750% 04/30/2027
1,137,562.56 1,169,368.75 2,869.57 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
354,257.81 365,545.94 3,456.39 362,329.10 05/05/2305/01/23AaaAA+ 375,000.00 91282CFB2 3.62

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
377,875.00 380,797.13 3,686.81 373,265.62 03/06/2303/02/23AaaAA+ 400,000.00 91282CFB2 4.44

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
566,812.50 573,276.05 5,530.22 565,640.63 07/07/2307/03/23AaaAA+ 600,000.00 91282CFB2 4.30

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
779,367.19 795,880.67 7,604.05 786,779.30 06/06/2306/02/23AaaAA+ 825,000.00 91282CFB2 3.97

US TREASURY NOTES
DTD 11/30/2022 3.875% 11/30/2027
1,147,093.75 1,170,969.12 124.40 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
1,171,500.00 1,186,062.97 127.05 1,184,109.38 12/05/2312/01/23AaaAA+ 1,200,000.00 91282CFZ9 4.24

US TREASURY NOTES
DTD 02/28/2023 4.000% 02/29/2028
391,875.00 393,895.00 4,043.48 393,640.63 04/05/2404/03/24AaaAA+ 400,000.00 91282CGP0 4.45

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

US TREASURY NOTES
DTD 02/28/2023 4.000% 02/29/2028
587,812.50 602,311.78 6,065.22 602,507.81 02/06/2402/02/24AaaAA+ 600,000.00 91282CGP0 3.89

US TREASURY NOTES
DTD 02/28/2023 4.000% 02/29/2028
1,322,578.13 1,336,166.85 13,646.74 1,335,287.11 03/06/2403/01/24AaaAA+ 1,350,000.00 91282CGP0 4.30

US TREASURY NOTES
DTD 02/28/2023 4.000% 02/29/2028
2,400,234.37 2,384,632.99 24,766.30 2,383,390.63 05/06/2405/01/24AaaAA+ 2,450,000.00 91282CGP0 4.79 84,189.74 22,346,848.36 22,766,107.91 3.98 22,427,228.54 23,500,000.00 Security Type Sub-Total Municipal Bond / Note

CT ST TXBL GO BONDS
DTD 06/11/2020 1.998% 07/01/2024
59,817.60 60,000.00 499.50 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
99,582.00 100,000.00 700.33 100,000.00 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
314,210.00 325,000.00 596.92 325,000.00 12/23/2012/16/20NRNR 325,000.00 650036DT0 0.87

UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
81,478.45 85,000.00 33.36 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
62,132.20 65,103.79 340.71 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
81,249.80 85,127.27 445.54 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
152,940.80 160,000.00 838.67 160,000.00 09/16/2009/03/20Aa3AA 160,000.00 341271AD6 1.26

MINNESOTA ST-F-UNREF MUNICIPAL
BONDS
DTD 08/25/2020 0.630% 08/01/2025
94,912.70 100,000.00 210.00 100,000.00 05/07/2405/07/24AaaAAA 100,000.00 60412AK85 5.30

SAN JUAN USD, CA TXBL GO BONDS
DTD 10/29/2020 0.852% 08/01/2025
123,606.60 130,000.00 369.20 130,000.00 10/29/2010/16/20Aa2NR 130,000.00 798306WP7 0.85

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

LOS ANGELES CCD, CA TXBL GO BONDS
DTD 11/10/2020 0.773% 08/01/2025
132,788.60 140,000.00 360.73 140,000.00 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
79,998.60 85,000.00 61.06 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
199,686.00 200,000.00 2,423.00 200,000.00 03/15/2303/09/23Aa2AA- 200,000.00 13063D3N6 4.85 6,879.02 1,482,403.35 1,535,231.06 1.87 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
240,847.66 245,576.48 623.33 256,382.76 03/25/2003/19/20AaaAA+ 244,283.12 3137BGK24 1.95 FHMS K054 A2
DTD 04/20/2016 2.745% 01/01/2026
264,568.74 268,360.61 629.06 263,613.28 04/14/2304/11/23AaaAA+ 275,000.00 3137BNGT5 4.37 FHMS K058 A2
DTD 11/09/2016 2.653% 08/01/2026
521,386.07 534,822.13 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
360,696.90 367,588.72 1,047.93 364,147.77 05/24/2305/19/23AaaAA+ 375,712.67 3137BTUM1 4.31 FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
524,220.00 525,763.83 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
523,502.64 532,890.73 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
394,230.04 397,226.67 1,608.12 397,226.35 12/14/2312/06/23AaaAA+ 397,229.54 3137HBC69 4.86 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
433,885.53 437,514.48 1,741.71 437,512.57 07/27/2307/19/23AaaAA+ 437,523.47 3137HAD45 4.78 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
545,693.46 554,513.98 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
533,262.49 542,263.54 1,920.42 540,675.78 07/31/2307/18/23AaaAA+ 550,000.00 3136BQDE6 4.58

Page 8 ends

For the Month Ending May 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 K508 A2
DTD 10/01/2023 4.740% 08/01/2028
494,117.99 490,299.16 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
787,934.22 789,722.24 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
372,321.82 364,326.55 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
495,439.02 494,757.18 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
180,085.91 179,530.05 760.35 179,479.62 11/21/2311/14/23AaaAA+ 180,000.00 3137HB3D4 5.14 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
272,985.46 274,281.10 1,113.75 274,209.93 12/07/2311/28/23AaaAA+ 275,000.00 3137HB3G7 4.93 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
284,703.92 292,728.85 1,104.90 292,899.71 02/08/2402/01/24AaaAA+ 290,000.00 3137HBLV4 4.34 25,528.92 7,229,881.87 7,292,166.30 4.67 7,268,583.88 7,399,748.80 Security Type Sub-Total Federal Agency Bond / Note

FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
402,668.80 424,518.45 575.52 422,883.50 07/23/2007/21/20AaaAA+ 425,000.00 3137EAEU9 0.48

FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
330,203.65 349,595.89 350.00 348,362.00 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
141,365.85 149,886.20 135.94 149,550.00 09/11/2009/10/20AaaAA+ 150,000.00 3130AK5E2 0.44

FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
658,065.80 699,446.68 495.83 697,893.00 09/25/2009/23/20AaaAA+ 700,000.00 3137EAEX3 0.44

FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
609,436.75 649,330.40 216.67 647,673.00 11/12/2011/09/20AaaAA+ 650,000.00 3135G06G3 0.57 1,773.96 2,141,740.85 2,272,777.62 0.49 2,266,361.50 2,275,000.00 Security Type Sub-Total

Page 9 ends

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

JPMORGAN CHASE CORP NOTES (CALLED,
OMD 6
DTD 06/01/2021 0.824% 06/01/2024
314,992.76 315,000.00 1,297.80 315,000.00 06/01/2105/24/21A1A- 315,000.00 46647PCH7 0.82

GOLDMAN SACHS GROUP INC (CALLABLE)
BONDS
DTD 07/08/2014 3.850% 07/08/2024
398,999.20 400,000.00 6,117.22 418,632.00 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
69,297.06 69,999.59 158.96 69,993.70 08/12/2108/09/21A2A 70,000.00 05565EBU8 0.75

PACCAR FINANCIAL CORP CORPORATE
NOTES
DTD 02/06/2020 1.800% 02/06/2025
170,687.65 176,264.29 1,006.25 182,894.25 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
78,087.12 79,979.65 435.00 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
399,812.32 410,000.00 1,966.77 410,000.00 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
24,429.28 24,987.51 86.25 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
63,827.27 64,995.63 186.88 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
221,065.43 224,770.55 632.81 224,264.25 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
221,198.40 229,866.23 350.00 252,247.50 10/20/2010/16/20A3A- 225,000.00 369550BG2 0.80

AMAZON INC CORP NOTES (CALLABLE)
DTD 06/03/2020 0.800% 06/03/2025
454,025.90 474,953.17 1,878.89 474,767.25 06/05/2006/03/20A1AA 475,000.00 023135BQ8 0.81

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

NATIONAL AUSTRALIA BK/NY CORPORATE
NOTES
DTD 06/09/2022 3.500% 06/09/2025
244,788.00 250,000.00 4,180.56 250,000.00 06/09/2205/31/22Aa2AA- 250,000.00 63254ABD9 3.50

NATIONAL RURAL UTIL COOP CORPORATE
NOTES
DTD 05/04/2022 3.450% 06/15/2025
48,918.85 49,995.50 795.42 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
221,285.25 225,000.00 3,100.00 225,000.00 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
221,191.65 232,524.78 2,906.25 256,918.50 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
221,233.73 232,233.26 1,840.63 257,845.50 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
219,695.18 225,000.00 1,673.44 225,000.00 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
171,050.78 175,000.00 1,223.61 175,000.00 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
208,615.50 224,846.80 115.00 224,608.50 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
160,727.70 174,976.89 662.33 174,947.50 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
207,038.93 224,406.60 1,519.38 223,863.75 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
37,199.28 39,964.15 294.67 39,932.00 01/24/2201/19/22A2A 40,000.00 87612EBM7 1.99

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

BANK OF NY MELLON CORP (CALLABLE)
CORPOR
DTD 01/26/2022 2.050% 01/26/2027
439,859.03 474,439.80 3,381.08 473,945.50 01/28/2201/26/22A1A 475,000.00 06406RBA4 2.10

MICROSOFT CORP CORP NOTES (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
722,223.75 730,663.61 7,906.25 721,942.50 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
279,409.50 284,771.73 1,848.75 277,203.00 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
444,082.73 470,031.53 2,306.39 466,089.00 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
285,198.60 289,601.37 1,650.00 284,925.00 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
484,083.00 491,966.61 9,328.61 488,325.00 01/18/2301/13/23Aa2AA- 500,000.00 63254ABE7 4.50

APPLE INC (CALLABLE) BONDS
DTD 09/12/2017 2.900% 09/12/2027
729,633.05 750,985.34 4,932.01 741,062.75 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
370,682.63 375,942.07 6,696.61 376,282.50 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
330,234.45 334,532.52 3,768.33 329,189.00 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
84,177.20 86,587.44 1,151.28 87,043.40 05/18/2305/11/23Aa3A+ 85,000.00 882508BV5 4.04

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

BRISTOL-MYERS SQUIBB CO CORP NOTES
(CALL
DTD 07/15/2020 3.900% 02/20/2028
361,947.38 362,399.13 4,103.13 358,263.75 03/13/2303/09/23A2A 375,000.00 110122DE5 4.93

LOCKHEED MARTIN CORP NOTES
(CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
58,985.22 59,914.17 118.67 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
374,460.38 377,372.78 7,064.06 377,865.00 07/25/2307/21/23A1A 375,000.00 24422EXB0 4.78

CITIBANK NA CORP NOTES (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
766,550.25 746,712.64 7,495.54 746,280.00 10/04/2310/02/23Aa3A+ 750,000.00 17325FBB3 5.92

AIR PRODUCTS & CHEMICALS CORP NOTES
(CAL
DTD 02/08/2024 4.600% 02/08/2029
335,156.70 339,573.19 4,909.22 339,547.80 02/08/2402/06/24A2A 340,000.00 009158BH8 4.63

CISCO SYSTEMS INC CORPORATE NOTES
(CALLA
DTD 02/26/2024 4.850% 02/26/2029
418,133.10 419,859.90 5,375.42 419,853.00 02/26/2402/21/24A1AA- 420,000.00 17275RBR2 4.86

BLACKROCK FUNDING INC CORPORATE

NOTES (C
DTD 03/14/2024 4.700% 03/14/2029
49,563.35 49,912.97 502.64 49,909.50 03/14/2403/05/24Aa3AA- 50,000.00 09290DAA9 4.74

BLACKROCK FUNDING INC CORPORATE

NOTES (C
DTD 03/14/2024 4.700% 03/14/2029
718,668.58 725,341.39 7,288.26 725,355.25 03/14/2403/06/24Aa3AA- 725,000.00 09290DAA9 4.69

ADOBE INC CORP NOTES (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
169,693.83 169,781.92 1,292.00 169,775.60 04/04/2404/02/24A1A+ 170,000.00 00724PAF6 4.83

ADOBE INC CORP NOTES (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
204,630.80 204,703.15 1,558.00 204,694.55 04/04/2404/01/24A1A+ 205,000.00 00724PAF6 4.83 115,104.37 12,005,540.77 12,269,857.86 3.51 12,318,206.45 12,360,000.00 Security Type Sub-Total Certificate of Deposit

Page 13 ends

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

TORONTO DOMINION BANK NY CERT
DEPOS
DTD 10/31/2022 5.600% 10/27/2025
450,893.33 450,000.00 15,400.00 450,000.00 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
450,740.25 450,000.00 1,935.50 450,000.00 11/03/2211/02/22Aa3AA- 450,000.00 65558UYF3 5.53 17,335.50 901,633.58 900,000.00 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
5,457.83 5,481.53 0.93 5,481.12 04/28/2104/20/21NRAAA 5,481.70 44933LAC7 0.38 NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
67,887.93 68,866.27 10.10 68,865.47 06/23/2106/15/21AaaAAA 68,866.64 65480BAC1 0.33 TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
64,582.24 65,394.06 7.56 65,389.34 06/14/2106/08/21NRAAA 65,396.39 89190GAC1 0.26 HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
43,671.34 44,637.20 10.91 44,631.50 11/24/2111/16/21AaaNR 44,640.91 43815GAC3 0.89 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
22,316.42 22,596.59 5.22 22,593.44 04/21/2104/13/21NRAAA 22,598.32 14314QAC8 0.52 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
33,497.24 34,219.93 11.26 34,215.61 11/17/2111/09/21NRAAA 34,223.25 44935FAD6 0.75 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
192,160.68 194,980.76 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
40,787.09 41,843.26 11.86 41,842.69 10/21/2110/13/21AaaAAA 41,843.76 362554AC1 0.68 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
202,026.10 204,584.88 360.98 204,582.98 07/20/2207/12/22NRAAA 204,587.81 14318MAD1 3.97 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
138,512.50 139,981.51 277.51 139,971.03 09/28/2209/20/22AaaAAA 140,000.00 65480JAC4 4.46

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For the Month Ending May 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
GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
273,251.69 274,970.17 552.29 274,954.93 10/12/2210/04/22NRAAA 275,000.00 36265QAD8 4.82 TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
242,436.52 244,999.91 504.16 244,999.88 01/30/2301/24/23NRAAA 245,000.00 891940AC2 4.63 COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
243,706.69 244,973.81 539.00 244,961.56 11/03/2210/27/22NRAAA 245,000.00 14041NGB1 4.95 HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
168,995.62 169,987.40 381.56 169,982.88 02/23/2302/13/23AaaNR 170,000.00 41285JAD0 5.05 FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
128,685.02 129,989.70 268.67 129,986.44 03/31/2303/28/23NRAAA 130,000.00 344928AD8 4.65 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
319,938.62 319,945.44 625.16 319,934.02 08/22/2308/15/23NRAAA 320,000.00 43815QAC1 5.42 DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
314,484.42 319,985.74 612.98 319,981.44 04/11/2304/04/23AaaNR 320,000.00 254683CY9 4.31 BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
168,533.07 169,969.04 361.91 169,961.51 06/16/2306/08/23NRAAA 170,000.00 05522RDG0 4.79 AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
188,917.78 189,986.46 411.24 189,983.15 06/14/2306/07/23NRAAA 190,000.00 02582JJZ4 4.87 COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
481,649.76 489,910.75 962.58 489,887.64 05/24/2305/17/23NRAAA 490,000.00 14041NGD7 4.43 DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
347,737.99 349,961.56 766.89 349,952.72 06/28/2306/21/23AaaAAA 350,000.00 254683CZ6 4.93 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
85,496.39 84,986.66 133.88 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
349,752.73 349,981.68 860.22 349,978.30 08/23/2308/15/23AaaAAA 350,000.00 31680EAD3 5.53 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
404,067.97 404,902.01 928.80 404,887.73 09/15/2309/07/23NRAAA 405,000.00 161571HT4 5.17

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

Page 16 ends

For the Month Ending May 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
(1,463.95)(4,449.22) 48,992.19 97.98 WELLS_F 50,000.00 912828YY0US TREASURY NOTES DTD 12/31/2019 1.750% 12/31/2024

5.31 0.58
(2,284.52)(1,562.50) 47,468.75 94.94 GOLDMAN 50,000.00 912828ZW3US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025

5.12 1.08
(2,502.12) 6,035.17 234,179.70 93.67 BMO 250,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026

4.76 2.40
(18,467.95) 6,208.06 913,300.83 93.67 BMO 975,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026

4.76 2.40
(41,922.88) 13,043.07 1,967,109.48 93.67 HSBC 2,100,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026

4.76 2.40
(230,679.69)(23,749.53) 8,898,828.60 93.67 JPM_CHA 9,500,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026

4.76 2.40
(31,806.19)(17,859.32) 1,137,562.56 94.80 BNP_PAR 1,200,000.00 91282CEN7US TREASURY NOTES DTD 04/30/2022 2.750% 04/30/2027

4.68 2.81
(11,288.13)(8,071.29) 354,257.81 94.47 MORGAN_ 375,000.00 91282CFB2US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027

4.65 3.02
(2,922.13) 4,609.38 377,875.00 94.47 BMO 400,000.00 91282CFB2US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027

4.65 3.02
(6,463.55) 1,171.87 566,812.50 94.47 CITIGRP 600,000.00 91282CFB2US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027

4.65 3.02
(16,513.48)(7,412.11) 779,367.19 94.47 HSBC 825,000.00 91282CFB2US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027

4.65 3.02
(23,875.37)(23,408.20) 1,147,093.75 97.63 CITIGRP 1,175,000.00 91282CFZ9US TREASURY NOTES DTD 11/30/2022 3.875% 11/30/2027

4.62 3.30
(14,562.97)(12,609.38) 1,171,500.00 97.63 HSBC 1,200,000.00 91282CFZ9US TREASURY NOTES DTD 11/30/2022 3.875% 11/30/2027

4.62 3.30
(2,020.00)(1,765.63) 391,875.00 97.97 JPM_CHA 400,000.00 91282CGP0US TREASURY NOTES DTD 02/28/2023 4.000% 02/29/2028

4.59 3.48
(14,499.28)(14,695.31) 587,812.50 97.97 CITIGRP 600,000.00 91282CGP0US TREASURY NOTES DTD 02/28/2023 4.000% 02/29/2028

4.59 3.48
(13,588.72)(12,708.98) 1,322,578.13 97.97 CITIGRP 1,350,000.00 91282CGP0US TREASURY NOTES DTD 02/28/2023 4.000% 02/29/2028

4.59 3.48
15,601.38 16,843.74 2,400,234.37 97.97 HSBC 2,450,000.00 91282CGP0US TREASURY NOTES DTD 02/28/2023 4.000% 02/29/2028

4.59 3.48

Page 17 ends

For the Month Ending May 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
(80,380.18) 4.70 (419,259.55) 22,346,848.36 23,500,000.00 Security Type Sub-Total 2.80 Municipal Bond / Note
(182.40)(182.40) 59,817.60 99.70 SIEBERT 60,000.00 20772KJW0CT ST TXBL GO BONDS DTD 06/11/2020 1.998% 07/01/2024

5.50 0.09
(418.00)(418.00) 99,582.00 99.58 RBC 100,000.00 157411TK5CHAFFEY UHSD, CA TXBL GO BONDS DTD 12/05/2019 2.101% 08/01/2024

4.56 0.17
(10,790.00)(10,790.00) 314,210.00 96.68 WELLS_F 325,000.00 650036DT0NY ST URBAN DEV CORP TXBL REV BONDS DTD 12/23/2020 0.870% 03/15/2025

5.20 0.79
(3,521.55)(3,521.55) 81,478.45 95.86 04/15/25JPM_CHA 85,000.00 91412HGE7UNIV OF CAL TXBL REV BONDS DTD 07/16/2020 0.883% 05/15/2025

5.38 0.87
(2,971.59)(3,327.35) 62,132.20 95.59 MERRILL 65,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025

5.50 1.08
(3,877.47)(4,313.75) 81,249.80 95.59 MERRILL 85,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025

5.50 1.08
(7,059.20)(7,059.20) 152,940.80 95.59 MERRILL 160,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025

5.50 1.08
(5,087.30)(5,087.30) 94,912.70 94.91 MORGAN_ 100,000.00 60412AK85MINNESOTA ST-F-UNREF MUNICIPAL BONDS
DTD 08/25/2020 0.630% 08/01/2025

5.17 1.16
(6,393.40)(6,393.40) 123,606.60 95.08 KEYBANC 130,000.00 798306WP7SAN JUAN USD, CA TXBL GO BONDS DTD 10/29/2020 0.852% 08/01/2025

5.24 1.16
(7,211.40)(7,211.40) 132,788.60 94.85 MERRILL 140,000.00 54438CYK2LOS ANGELES CCD, CA TXBL GO BONDS DTD 11/10/2020 0.773% 08/01/2025

5.38 1.16
(5,001.40)(5,001.40) 79,998.60 94.12 JPM_CHA 85,000.00 13077DQD7CA ST UNIV TXBL REV BONDS DTD 07/29/2021 0.862% 11/01/2025

5.22 1.41
(314.00)(314.00) 199,686.00 99.84 WELLS_F 200,000.00 13063D3N6CA ST MUNICIPAL BONDS DTD 03/15/2023 4.846% 03/01/2027

4.90 2.58
(53,619.75) 5.22 (52,827.71) 1,482,403.35 1,535,000.00 Security Type Sub-Total 1.15 Federal Agency Commercial Mortgage-Backed Security
(4,728.82)(15,535.10) 240,847.66 98.59 CITIGRP 244,283.12 3137BGK24FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024

5.91 0.48

Page 18 ends

For the Month Ending May 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
(3,791.87) 955.46 264,568.74 96.21 BAIRD 275,000.00 3137BNGT5FHMS K054 A2 DTD 04/20/2016 2.745% 01/01/2026

5.24 1.45
(13,436.06)(5,453.77) 521,386.07 94.80 BREAN 550,000.00 3137BSP72FHMS K058 A2 DTD 11/09/2016 2.653% 08/01/2026

5.19 2.07
(6,891.82)(3,450.87) 360,696.90 96.00 CITIGRP 375,712.67 3137BTUM1FHMS K061 A2 DTD 01/30/2017 3.347% 11/01/2026

5.11 2.19
(1,543.83) 5,415.31 524,220.00 95.31 MORGAN_ 550,000.00 3137BXQY1FHMS K064 A2 DTD 05/15/2017 3.224% 03/01/2027

5.05 2.47
(9,388.09)(3,530.56) 523,502.64 95.18 CITIGRP 550,000.00 3137F1G44FHLMC MULTIFAMILY STRUCTURED P DTD 07/01/2017 3.243% 04/01/2027

5.07 2.61
(2,996.63)(2,996.31) 394,230.04 99.24 JPM_CHA 397,229.54 3137HBC69FHMS KJ48 A1 DTD 12/01/2023 4.858% 05/01/2028

5.07 3.17
(3,628.95)(3,627.04) 433,885.53 99.17 JPM_CHA 437,523.47 3137HAD45FHMS KJ46 A1 DTD 07/01/2023 4.777% 06/01/2028

5.01 2.75
(8,820.52)(9,799.94) 545,693.46 99.22 JPM_CHA 550,000.00 3137HACX2FHMS K505 A2 DTD 07/01/2023 4.819% 06/01/2028

5.04 3.51
(9,001.05)(7,413.29) 533,262.49 96.96 JPM_CHA 550,000.00 3136BQDE6FNA 2023-M6 A2 DTD 07/01/2023 4.190% 07/01/2028

5.02 3.67
3,818.83 5,085.99 494,117.99 98.82 BMO 500,000.00 3137HAQ74FHMS K508 A2 DTD 10/01/2023 4.740% 08/01/2028

5.05 3.67
(1,788.02)(231.38) 787,934.22 98.49 WELLS_F 800,000.00 3137HAMH6FHMS K506 A2 DTD 09/01/2023 4.650% 08/01/2028

5.05 3.65
7,995.27 9,277.94 372,321.82 99.29 MORGAN_ 375,000.00 3137HAST4FHMS K509 A2 DTD 10/01/2023 4.850% 09/01/2028

5.04 3.74
681.84 1,415.52 495,439.02 99.09 MERRILL 500,000.00 3137HAMS2FHMS K507 A2 DTD 09/01/2023 4.800% 09/01/2028

5.04 3.70
555.86 606.29 180,085.91 100.05 JPM_CHA 180,000.00 3137HB3D4FHMS K510 A2 DTD 11/01/2023 5.069% 10/01/2028

5.06 3.76
(1,295.64)(1,224.47) 272,985.46 99.27 MERRILL 275,000.00 3137HB3G7FHMS K511 A2 DTD 12/01/2023 4.860% 10/01/2028

5.05 3.80
(8,024.93)(8,195.79) 284,703.92 98.17 JPM_CHA 290,000.00 3137HBLV4FHMS K514 A2 DTD 02/01/2024 4.572% 12/01/2028

5.03 3.90
(38,702.01) 5.09 (62,284.43) 7,229,881.87 7,399,748.80 Security Type Sub-Total 3.06

Page 19 ends

For the Month Ending May 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 Bond / Note
(21,849.65)(20,214.70) 402,668.80 94.75 WELLS_F 425,000.00 3137EAEU9FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025

5.17 1.14
(19,392.24)(18,158.35) 330,203.65 94.34 BARCLAY 350,000.00 3135G05X7FANNIE MAE NOTES DTD 08/27/2020 0.375% 08/25/2025

5.16 1.23
(8,520.35)(8,184.15) 141,365.85 94.24 WELLS_F 150,000.00 3130AK5E2FEDERAL HOME LOAN BANK NOTES DTD 09/11/2020 0.375% 09/04/2025

5.15 1.26
(41,380.88)(39,827.20) 658,065.80 94.01 CITIGRP 700,000.00 3137EAEX3FREDDIE MAC NOTES DTD 09/25/2020 0.375% 09/23/2025

5.15 1.31
(39,893.65)(38,236.25) 609,436.75 93.76 BARCLAY 650,000.00 3135G06G3FANNIE MAE NOTES DTD 11/12/2020 0.500% 11/07/2025

5.06 1.43
(124,620.65) 5.13 (131,036.77) 2,141,740.85 2,275,000.00 Security Type Sub-Total 1.30 Corporate Note
(7.24)(7.24) 314,992.76 100.00 06/01/24JPM_CHA 315,000.00 46647PCH7JPMORGAN CHASE CORP NOTES (CALLED, OMD 6
DTD 06/01/2021 0.824% 06/01/2024

1.63 0.00
(1,000.80)(19,632.80) 398,999.20 99.75 SUSQ 400,000.00 38141EC23GOLDMAN SACHS GROUP INC (CALLABLE) BONDS
DTD 07/08/2014 3.850% 07/08/2024

6.14 0.11
(702.53)(696.64) 69,297.06 99.00 GOLDMAN 70,000.00 05565EBU8BMW US CAPITAL LLC CORPORATE NOTES DTD 08/12/2021 0.750% 08/12/2024

5.82 0.20
(5,576.64)(12,206.60) 170,687.65 97.54 MERRILL 175,000.00 69371RQ66PACCAR FINANCIAL CORP CORPORATE NOTES
DTD 02/06/2020 1.800% 02/06/2025

5.52 0.68
(1,892.53)(1,832.08) 78,087.12 97.61 02/01/25BARCLAY 80,000.00 025816CQ0AMERICAN EXPRESS CO CORP NOTES (CALLABLE
DTD 03/04/2022 2.250% 03/04/2025

5.50 0.67
(10,187.68)(10,187.68) 399,812.32 97.52 02/10/25DEUTSCH 410,000.00 771196BT8ROCHE HOLDINGS INC (CALLABLE)

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

5.43 0.69
(558.23)(526.97) 24,429.28 97.72 03/15/25MORGAN_ 25,000.00 437076CM2HOME DEPOT INC (CALLABLE) CORPORATE NOTE
DTD 03/28/2022 2.700% 04/15/2025

5.40 0.79

Page 20 ends

For the Month Ending May 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
(1,168.36)(1,158.43) 63,827.27 98.20 04/01/25KEYBANC 65,000.00 17252MAP5CINTAS CORPORATION NO. 2 CORP NOTE (CALL
DTD 05/03/2022 3.450% 05/01/2025

5.49 0.83
(3,705.12)(3,198.82) 221,065.43 98.25 MERRILL 225,000.00 90327QD89USAA CAPITAL CORP CORPORATE NOTES DTD 05/26/2022 3.375% 05/01/2025

5.35 0.91
(8,667.83)(31,049.10) 221,198.40 98.31 03/15/25JPM_CHA 225,000.00 369550BG2GENERAL DYNAMICS CORP (CALLABLE)

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

5.33 0.79
(20,927.27)(20,741.35) 454,025.90 95.58 05/03/25GOLDMAN 475,000.00 023135BQ8AMAZON INC CORP NOTES (CALLABLE) DTD 06/03/2020 0.800% 06/03/2025

5.36 0.92
(5,212.00)(5,212.00) 244,788.00 97.92 CITIGRP 250,000.00 63254ABD9NATIONAL AUSTRALIA BK/NY CORPORATE NOTES
DTD 06/09/2022 3.500% 06/09/2025

5.62 1.00
(1,076.65)(1,067.65) 48,918.85 97.84 RBC 50,000.00 63743HFE7NATIONAL RURAL UTIL COOP CORPORATE NOTES
DTD 05/04/2022 3.450% 06/15/2025

5.61 1.02
(3,714.75)(3,714.75) 221,285.25 98.35 JPM_CHA 225,000.00 459200KS9IBM CORP CORPORATE NOTES DTD 07/27/2022 4.000% 07/27/2025

5.49 1.13
(11,333.13)(35,726.85) 221,191.65 98.31 MERRILL 225,000.00 06051GFS3BANK OF AMERICA CORP NOTES DTD 07/30/2015 3.875% 08/01/2025

5.38 1.14
(10,999.53)(36,611.77) 221,233.73 98.33 06/15/25US_BANC 225,000.00 002824BM1ABBOTT LABORATORIES CORPORATE

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

5.23 1.02
(5,304.82)(5,304.82) 219,695.18 97.64 12/06/24MERRILL 225,000.00 06051GKE8BANK OF AMERICA CORP NOTES (CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025

3.13 0.51
(3,949.22)(3,949.22) 171,050.78 97.74 02/24/25JPM_CHA 175,000.00 46647PCV6JPMORGAN CHASE & CO CORP NOTES (CALLABLE
DTD 02/24/2022 2.595% 02/24/2026

3.95 0.73
(16,231.30)(15,993.00) 208,615.50 92.72 04/15/26CITIGRP 225,000.00 91324PEC2UNITEDHEALTH GROUP INC (CALLABLE) CORPOR
DTD 05/19/2021 1.150% 05/15/2026

5.10 1.86

Page 21 ends

For the Month Ending May 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
(14,249.19)(14,219.80) 160,727.70 91.84 07/12/26MITSU 175,000.00 05565EBW4BMW US CAPITAL LLC (CALLABLE)

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

5.22 2.09
(17,367.67)(16,824.82) 207,038.93 92.02 JPM_CHA 225,000.00 14913R2U0CATERPILLAR FINL SERVICE CORPORATE NOTES
DTD 01/10/2022 1.700% 01/08/2027

5.01 2.54
(2,764.87)(2,732.72) 37,199.28 93.00 12/15/26CITIGRP 40,000.00 87612EBM7TARGET CORP CORP NOTES (CALLABLE) DTD 01/24/2022 1.950% 01/15/2027

4.82 2.47
(34,580.77)(34,086.47) 439,859.03 92.60 12/26/26DEUTSCH 475,000.00 06406RBA4BANK OF NY MELLON CORP (CALLABLE) CORPOR
DTD 01/26/2022 2.050% 01/26/2027

5.06 2.50
(8,439.86) 281.25 722,223.75 96.30 11/06/26GOLDMAN 750,000.00 594918BY9MICROSOFT CORP CORP NOTES (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027

4.79 2.33
(5,362.23) 2,206.50 279,409.50 93.14 02/01/27RBS 300,000.00 025816CS6AMERICAN EXPRESS CO CORP NOTES (CALLABLE
DTD 03/04/2022 2.550% 03/04/2027

5.25 2.58
(25,948.80)(22,006.27) 444,082.73 93.49 02/15/27SEEL 475,000.00 084664CZ2BERKSHIRE HATHAWAY CORP NOTES (CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027

4.82 2.63
(4,402.77) 273.60 285,198.60 95.07 01/01/27BARCLAY 300,000.00 808513BW4CHARLES SCHWAB CORP NOTES (CALLABLE)
DTD 09/24/2021 3.300% 04/01/2027

5.19 2.48
(7,883.61)(4,242.00) 484,083.00 96.82 CBAA 500,000.00 63254ABE7NATIONAL AUSTRALIA BK/NY CORPORATE NOTES
DTD 06/09/2022 3.905% 06/09/2027

5.05 2.83
(21,352.29)(11,429.70) 729,633.05 94.15 06/12/27TD 775,000.00 037833DB3APPLE INC (CALLABLE) BONDS DTD 09/12/2017 2.900% 09/12/2027

4.85 2.90
(5,259.44)(5,599.87) 370,682.63 98.85 WELLS_F 375,000.00 89236TKQ7TOYOTA MOTOR CREDIT CORP

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

4.98 3.31
(4,298.07) 1,045.45 330,234.45 94.35 11/07/27MORGAN_ 350,000.00 637432NP6NATIONAL RURAL UTIL COOP CORP NOTES (CAL
DTD 02/07/2018 3.400% 02/07/2028

5.10 3.23

Page 22 ends

For the Month Ending May 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
(2,410.24)(2,866.20) 84,177.20 99.03 01/15/28JPM_CHA 85,000.00 882508BV5TEXAS INSTRUMENTS INC CORP NOTE (CALLABL
DTD 11/18/2022 4.600% 02/15/2028

4.89 3.33
(451.75) 3,683.63 361,947.38 96.52 11/20/27MKTX 375,000.00 110122DE5BRISTOL-MYERS SQUIBB CO CORP NOTES (CALL
DTD 07/15/2020 3.900% 02/20/2028

4.93 3.24
(928.95)(906.78) 58,985.22 98.31 04/15/28BARCLAY 60,000.00 539830BZ1LOCKHEED MARTIN CORP NOTES (CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028

4.92 3.59
(2,912.40)(3,404.62) 374,460.38 99.86 CITIGRP 375,000.00 24422EXB0JOHN DEERE CAPITAL CORP CORPORATE NOTES
DTD 07/14/2023 4.950% 07/14/2028

4.99 3.71
19,837.61 20,270.25 766,550.25 102.21 08/29/28BARCLAY 750,000.00 17325FBB3CITIBANK NA CORP NOTES (CALLABLE) DTD 09/29/2023 5.803% 09/29/2028

5.23 3.79
(4,416.49)(4,391.10) 335,156.70 98.58 01/08/29BARCLAY 340,000.00 009158BH8AIR PRODUCTS & CHEMICALS CORP NOTES (CAL
DTD 02/08/2024 4.600% 02/08/2029

4.94 4.14
(1,726.80)(1,719.90) 418,133.10 99.56 01/26/29CITIGRP 420,000.00 17275RBR2CISCO SYSTEMS INC CORPORATE NOTES (CALLA
DTD 02/26/2024 4.850% 02/26/2029

4.96 4.17
(349.62)(346.15) 49,563.35 99.13 02/14/29CITIGRP 50,000.00 09290DAA9BLACKROCK FUNDING INC CORPORATE

NOTES (C
DTD 03/14/2024 4.700% 03/14/2029

4.91 4.23
(6,672.81)(6,686.67) 718,668.58 99.13 02/14/29MERRILL 725,000.00 09290DAA9BLACKROCK FUNDING INC CORPORATE

NOTES (C
DTD 03/14/2024 4.700% 03/14/2029

4.91 4.23
(88.09)(81.77) 169,693.83 99.82 03/04/29SEEL 170,000.00 00724PAF6ADOBE INC CORP NOTES (CALLABLE) DTD 04/04/2024 4.800% 04/04/2029

4.84 4.28
(72.35)(63.75) 204,630.80 99.82 03/04/29MERRILL 205,000.00 00724PAF6ADOBE INC CORP NOTES (CALLABLE) DTD 04/04/2024 4.800% 04/04/2029

4.84 4.28
(312,665.68) 4.98 (264,317.09) 12,005,540.77 12,360,000.00 Security Type Sub-Total 2.42 Certificate of Deposit

Page 23 ends

For the Month Ending May 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
Certificate of Deposit
893.33 893.33 450,893.33 100.20 TD 450,000.00 89115B6K1TORONTO DOMINION BANK NY CERT DEPOS
DTD 10/31/2022 5.600% 10/27/2025

5.35 1.36
740.25 740.25 450,740.25 100.16 WELLS_F 450,000.00 65558UYF3NORDEA BANK ABP NEW YORK CERT DEPOS
DTD 11/03/2022 5.530% 11/03/2025

5.41 1.38
1,633.58 5.38 1,633.58 901,633.58 900,000.00 Security Type Sub-Total 1.37 Asset-Backed Security
(23.70)(23.29) 5,457.83 99.56 BARCLAY 5,481.70 44933LAC7HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025

0.72 0.07
(978.34)(977.54) 67,887.93 98.58 MITSU 68,866.64 65480BAC1NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025

1.37 0.22
(811.82)(807.10) 64,582.24 98.76 CITIGRP 65,396.39 89190GAC1TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025

1.12 0.20
(965.86)(960.16) 43,671.34 97.83 MERRILL 44,640.91 43815GAC3HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026

2.23 0.45
(280.17)(277.02) 22,316.42 98.75 MERRILL 22,598.32 14314QAC8CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026

1.26 0.20
(722.69)(718.37) 33,497.24 97.88 SMBC 34,223.25 44935FAD6HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026

1.84 0.35
(2,820.08)(2,797.57) 192,160.68 98.54 CITIGRP 195,000.00 254683CP8DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026

1.22 0.28
(1,056.17)(1,055.60) 40,787.09 97.47 JPM_CHA 41,843.76 362554AC1GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026

1.80 0.48
(2,558.78)(2,556.88) 202,026.10 98.75 RBC 204,587.81 14318MAD1CARMX 2022-3 A3 DTD 07/20/2022 3.970% 04/15/2027

4.43 0.70
(1,469.01)(1,458.53) 138,512.50 98.94 WELLS_F 140,000.00 65480JAC4NAROT 2022-B A3 DTD 09/28/2022 4.460% 05/17/2027

4.85 0.95
(1,718.48)(1,703.24) 273,251.69 99.36 RBC 275,000.00 36265QAD8GMCAR 2022-4 A3 DTD 10/12/2022 4.820% 08/16/2027

5.03 0.86
(2,563.39)(2,563.36) 242,436.52 98.95 MERRILL 245,000.00 891940AC2TAOT 2023-A A3 DTD 01/30/2023 4.630% 09/15/2027

4.98 1.11

Page 24 ends

For the Month Ending May 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
(1,267.12)(1,254.87) 243,706.69 99.47 RBC 245,000.00 14041NGB1COMET 2022-A3 A DTD 11/03/2022 4.950% 10/15/2027

5.12 1.29
(991.78)(987.26) 168,995.62 99.41 JPM_CHA 170,000.00 41285JAD0HDMOT 2023-A A3 DTD 02/23/2023 5.050% 12/15/2027

5.23 1.06
(1,304.68)(1,301.42) 128,685.02 98.99 BNP_PAR 130,000.00 344928AD8FORDO 2023-A A3 DTD 03/31/2023 4.650% 02/15/2028

4.95 1.31
(6.82) 4.60 319,938.62 99.98 MERRILL 320,000.00 43815QAC1HAROT 2023-3 A3 DTD 08/22/2023 5.410% 02/18/2028

5.42 1.55
(5,501.32)(5,497.02) 314,484.42 98.28 RBC 320,000.00 254683CY9DCENT 2023-A1 A DTD 04/11/2023 4.310% 03/15/2028

4.81 1.67
(1,435.97)(1,428.44) 168,533.07 99.14 MERRILL 170,000.00 05522RDG0BACCT 2023-A1 A1 DTD 06/16/2023 4.790% 05/15/2028

5.03 1.81
(1,068.68)(1,065.37) 188,917.78 99.43 RBC 190,000.00 02582JJZ4AMXCA 2023-1 A DTD 06/14/2023 4.870% 05/15/2028

5.03 1.81
(8,260.99)(8,237.88) 481,649.76 98.30 RBC 490,000.00 14041NGD7COMET 2023-A1 A DTD 05/24/2023 4.420% 05/15/2028

4.89 1.82
(2,223.57)(2,214.73) 347,737.99 99.35 MERRILL 350,000.00 254683CZ6DCENT 2023-A2 A DTD 06/28/2023 4.930% 06/15/2028

5.11 1.88
509.73 511.36 85,496.39 100.58 JPM_CHA 85,000.00 438123AC5HAROT 2023-4 A3 DTD 11/08/2023 5.670% 06/21/2028

5.51 1.83
(228.95)(225.57) 349,752.73 99.93 JPM_CHA 350,000.00 31680EAD3FITAT 2023-1 A3 DTD 08/23/2023 5.530% 08/15/2028

5.55 1.65
(834.04)(819.76) 404,067.97 99.77 JPM_CHA 405,000.00 161571HT4CHAIT 2023-A1 A DTD 09/15/2023 5.160% 09/15/2028

5.22 2.10
381.96 384.26 410,365.93 100.09 CITIGRP 410,000.00 02582JKD1AMXCA 2023-3 A DTD 09/19/2023 5.230% 09/15/2028

5.21 2.10
(792.75)(790.71) 179,185.12 99.55 MERRILL 180,000.00 05522RDH8BACCT 2023-A2 A2 DTD 12/14/2023 4.980% 11/15/2028

5.09 2.25
2,338.98 2,340.89 497,239.42 100.45 BARCLAY 495,000.00 02582JKH2AMXCA 2024-1 A DTD 04/23/2024 5.230% 04/16/2029

5.12 2.59
(36,480.58) 4.79 (36,654.49) 5,615,344.11 5,652,638.78 Security Type Sub-Total 1.59

Page 25 ends

For the Month Ending May 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
53,622,387.58 51,723,392.89 (644,835.27) (964,746.46) 4.87 Managed Account Sub-Total 2.48 Joint Powers Authority

0.00 0.00 312,890.23 1.00 312,890.23 CAMP Pool 0.00 312,890.23 312,890.23 0.00 0.00 Liquid Sub-Total 0.00 Total Investments $52,298,252.59
$261,969.47
$52,036,283.12
Accrued Interest
Securities Sub-Total $53,935,277.81 ($644,835.27) ($964,746.46) 4.87% 2.48

Page 26 ends

For the Month Ending May 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
05/06/24 US TREASURY NOTES
DTD 02/28/2023 4.000% 02/29/2028
91282CGP0 (2,383,390.63) (17,842.39) (2,401,233.02) 2,450,000.00 05/01/24 (17,842.39) (2,401,233.02)(2,383,390.63) 2,450,000.00 Transaction Type Sub-Total

INTEREST
05/01/24 USAA CAPITAL CORP CORPORATE
NOTES
DTD 05/26/2022 3.375% 05/01/2025
90327QD89 0.00 3,796.88 3,796.88 225,000.00 05/01/24 05/01/24 CINTAS CORPORATION NO. 2 CORP

NOTE (CALL
DTD 05/03/2022 3.450% 05/01/2025
17252MAP5 0.00 1,121.25 1,121.25 65,000.00 05/01/24 05/01/24 CA ST UNIV TXBL REV BONDS
DTD 07/29/2021 0.862% 11/01/2025
13077DQD7 0.00 366.35 366.35 85,000.00 05/01/24
05/25/24 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
3137HBC69 0.00 1,610.63 1,610.63 397,849.40 05/01/24 05/25/24 FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24 0.00 624.44 624.44 244,719.54 05/01/24
05/25/24 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 0.00 1,113.75 1,113.75 275,000.00 05/01/24 05/25/24 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 0.00 3,100.00 3,100.00 800,000.00 05/01/24 05/25/24 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 0.00 2,000.00 2,000.00 500,000.00 05/01/24 05/25/24 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
3137BTUM1 0.00 1,050.06 1,050.06 376,479.71 05/01/24 05/25/24 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 0.00 1,742.83 1,742.83 437,804.30 05/01/24 05/25/24 FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
3137BXQY1 0.00 1,477.67 1,477.67 550,000.00 05/01/24 05/25/24 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 05/01/24 05/25/24 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 0.00 2,208.71 2,208.71 550,000.00 05/01/24

Page 27 ends

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

INTEREST
05/25/24 FHMS K058 A2
DTD 11/09/2016 2.653% 08/01/2026
3137BSP72 0.00 1,215.96 1,215.96 550,000.00 05/01/24 05/25/24 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
3137HBLV4 0.00 1,104.90 1,104.90 290,000.00 05/01/24 05/25/24 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 05/01/24 05/25/24 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 0.00 1,515.63 1,515.63 375,000.00 05/01/24 05/25/24 FHMS K054 A2
DTD 04/20/2016 2.745% 01/01/2026
3137BNGT5 0.00 629.06 629.06 275,000.00 05/01/24
05/25/24 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 0.00 1,975.00 1,975.00 500,000.00 05/01/24 05/25/24 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 0.00 760.35 760.35 180,000.00 05/01/24
05/03/24 NORDEA BANK ABP NEW YORK CERT
DEPOS
DTD 11/03/2022 5.530% 11/03/2025
65558UYF3 0.00 12,442.50 12,442.50 450,000.00 05/03/24 05/07/24 FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
3135G06G3 0.00 1,625.00 1,625.00 650,000.00 05/07/24 05/15/24 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 05/15/24 05/15/24 TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
89190GAC1 0.00 16.93 16.93 78,128.60 05/15/24
05/15/24 LOCKHEED MARTIN CORP NOTES
(CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
539830BZ1 0.00 1,335.00 1,335.00 60,000.00 05/15/24 05/15/24 FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
344928AD8 0.00 503.75 503.75 130,000.00 05/15/24
05/15/24 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 05/15/24 05/15/24 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
254683CP8 0.00 94.25 94.25 195,000.00 05/15/24

Page 28 ends

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

INTEREST
05/15/24 UNITEDHEALTH GROUP INC
(CALLABLE) CORPOR
DTD 05/19/2021 1.150% 05/15/2026
91324PEC2 0.00 1,293.75 1,293.75 225,000.00 05/15/24 05/15/24 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 05/15/24 05/15/24 NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
65480BAC1 0.00 22.44 22.44 81,607.27 05/15/24
05/15/24 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 0.00 747.00 747.00 180,000.00 05/15/24
05/15/24 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
65480JAC4 0.00 520.33 520.33 140,000.00 05/15/24
05/15/24 AMXCA 2024-1 A
DTD 04/23/2024 5.230% 04/16/2029
02582JKH2 0.00 1,582.07 1,582.07 495,000.00 05/15/24 05/15/24 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 05/15/24 05/15/24 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 0.00 23.58 23.58 38,242.38 05/15/24
05/15/24 UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 0.00 375.28 375.28 85,000.00 05/15/24
05/15/24 GENERAL DYNAMICS CORP (CALLABLE)

CORP NO
DTD 05/11/2018 3.500% 05/15/2025
369550BG2 0.00 3,937.50 3,937.50 225,000.00 05/15/24 05/15/24 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 05/15/24 05/15/24 TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
891940AC2 0.00 945.29 945.29 245,000.00 05/15/24
05/15/24 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 0.00 11.57 11.57 26,694.06 05/15/24
05/15/24 AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
02582JJZ4 0.00 771.08 771.08 190,000.00 05/15/24
05/15/24 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 05/15/24 05/15/24 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 0.00 2.71 2.71 8,564.20 05/15/24

Page 29 ends

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

INTEREST
05/15/24 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 05/15/24 05/15/24 HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
41285JAD0 0.00 715.42 715.42 170,000.00 05/15/24
05/15/24 BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
05522RDG0 0.00 678.58 678.58 170,000.00 05/15/24
05/15/24 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
14318MAD1 0.00 694.75 694.75 210,000.00 05/15/24
05/15/24 US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
912828U24 0.00 128,250.00 128,250.00 12,825,000.00 05/15/24 05/16/24 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 05/16/24 05/16/24 GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
362554AC1 0.00 25.92 25.92 45,745.63 05/16/24
05/18/24 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 05/18/24 05/21/24 HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
438123AC5 0.00 401.63 401.63 85,000.00 05/21/24
05/21/24 HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
43815GAC3 0.00 36.26 36.26 49,438.91 05/21/24
05/31/24 US TREASURY NOTES
DTD 11/30/2022 3.875% 11/30/2027
91282CFZ9 0.00 46,015.63 46,015.63 2,375,000.00 05/31/24 246,979.79 246,979.79 0.00 30,375,274.00 Transaction Type Sub-Total

PAYDOWNS
05/25/24 FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
3137BTUM1 767.04 0.00 767.04 23.61 0.00 767.04 05/01/24 05/25/24 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
3137HBC69 619.86 0.00 619.86 0.00 0.00 619.86 05/01/24 05/25/24 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 280.83 0.00 280.83 0.01 0.00 280.83 05/01/24 05/25/24 FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24 436.42 0.00 436.42 (21.62) 0.00 436.42 05/01/24

Page 30 ends

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

PAYDOWNS
05/15/24 TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
89190GAC1 12,732.21 0.00 12,732.21 1.37 0.00 12,732.21 05/15/24 05/15/24 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
14318MAD1 5,412.19 0.00 5,412.19 0.13 0.00 5,412.19 05/15/24 05/15/24 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 4,019.13 0.00 4,019.13 0.90 0.00 4,019.13 05/15/24 05/15/24 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 4,095.74 0.00 4,095.74 0.88 0.00 4,095.74 05/15/24 05/15/24 NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
65480BAC1 12,740.63 0.00 12,740.63 0.22 0.00 12,740.63 05/15/24 05/15/24 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 3,082.50 0.00 3,082.50 0.32 0.00 3,082.50 05/15/24 05/16/24 GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
362554AC1 3,901.87 0.00 3,901.87 0.10 0.00 3,901.87 05/16/24 05/21/24 HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
43815GAC3 4,798.00 0.00 4,798.00 1.01 0.00 4,798.00 05/21/24

0.00 0.00 6.93 52,886.42 52,886.42 52,886.42 Transaction Type Sub-Total SELL
05/06/24 US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
91282CCP4 454,628.91 824.18 455,453.09 (3,085.93) (22,119.95) FIFO 500,000.00 05/01/24 05/06/24 US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
91282CCP4 818,332.03 1,483.52 819,815.55 (1,230.47) (36,275.85) FIFO 900,000.00 05/01/24 05/06/24 US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
91282CCP4 681,943.36 1,236.26 683,179.62 (8,525.39) (34,715.87) FIFO 750,000.00 05/01/24 05/06/24 US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
91282CCP4 181,851.56 329.67 182,181.23 2,843.75 (6,119.21) FIFO 200,000.00 05/01/24 3,873.63 (99,230.88)(9,998.04) 2,140,629.49 2,136,755.86 2,350,000.00 Transaction Type Sub-Total

TRANSFER IN
05/07/24 MINNESOTA ST-F-UNREF MUNICIPAL
BONDS
DTD 08/25/2020 0.630% 08/01/2025
60412AK85 94,499.00 168.00 94,667.00 0.00 0.00 100,000.00 05/07/24

Page 31 ends

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

TRANSFER OUT
05/07/24 MN ST TXBL GO BONDS
DTD 08/25/2020 0.630% 08/01/2025
60412AVJ9 94,499.00 168.00 94,667.00 (5,501.00) (5,501.00) 100,000.00 05/07/24 168.00 (5,501.00)(5,501.00) 94,667.00 94,499.00 100,000.00 Transaction Type Sub-Total (4,750.35) 233,347.03 228,596.68 (15,492.11) (104,731.88)Managed Account Sub-Total Total Security Transactions ($15,492.11)$228,596.68 $233,347.03 ($4,750.35) ($104,731.88)

Page 32 ends

For the Month Ending May 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
276,870.70 Opening Balance
05/01/24 05/01/24 Purchase - Interest 13077DQD7 1.00 366.35 277,237.05 05/01/24 05/01/24 Purchase - Interest 17252MAP5 1.00 1,121.25 278,358.30 05/01/24 05/01/24 Purchase - Interest 90327QD89 1.00 3,796.88 282,155.18 05/03/24 05/03/24 Purchase - Interest 65558UYF3 1.00 12,442.50 294,597.68 05/06/24 05/06/24 Purchase - Principal 91282CCP4 1.00 2,136,755.86 2,431,353.54 05/06/24 05/06/24 Purchase - Interest 91282CCP4 1.00 3,873.63 2,435,227.17 05/06/24 05/06/24 Redemption - Interest 91282CGP0 1.00 (17,842.39) 2,417,384.78 05/06/24 05/06/24 Redemption - Principal 91282CGP0 1.00 (2,383,390.63) 33,994.15 05/07/24 05/07/24 Purchase - Interest 3135G06G3 1.00 1,625.00 35,619.15 05/15/24 05/15/24 Purchase - Interest 369550BG2 1.00 3,937.50 39,556.65 05/15/24 05/15/24 Purchase - Interest 539830BZ1 1.00 1,335.00 40,891.65 05/15/24 05/15/24 Purchase - Interest 912828U24 1.00 128,250.00 169,141.65 05/15/24 05/15/24 Purchase - Interest 91324PEC2 1.00 1,293.75 170,435.40 05/15/24 05/15/24 Purchase - Interest 02582JKH2 1.00 1,582.07 172,017.47 05/15/24 05/15/24 Purchase - Interest 05522RDG0 1.00 678.58 172,696.05 05/15/24 05/15/24 Purchase - Interest 05522RDH8 1.00 747.00 173,443.05 05/15/24 05/15/24 Purchase - Interest 14041NGB1 1.00 1,010.63 174,453.68 05/15/24 05/15/24 Purchase - Interest 14041NGD7 1.00 1,804.83 176,258.51 05/15/24 05/15/24 Purchase - Interest 91412HGE7 1.00 375.28 176,633.79 05/15/24 05/15/24 Purchase - Interest 02582JJZ4 1.00 771.08 177,404.87 05/15/24 05/15/24 Purchase - Interest 02582JKD1 1.00 1,786.92 179,191.79

Page 33 ends

For the Month Ending May 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
05/15/24 05/15/24 Purchase - Interest 14314QAC8 1.00 11.57 179,203.36 05/15/24 05/15/24 Purchase - Interest 14318MAD1 1.00 694.75 179,898.11 05/15/24 05/15/24 Purchase - Interest 161571HT4 1.00 1,741.50 181,639.61 05/15/24 05/15/24 Purchase - Interest 254683CP8 1.00 94.25 181,733.86 05/15/24 05/15/24 Purchase - Interest 254683CY9 1.00 1,149.33 182,883.19 05/15/24 05/15/24 Purchase - Interest 254683CZ6 1.00 1,437.92 184,321.11 05/15/24 05/15/24 Purchase - Interest 31680EAD3 1.00 1,612.92 185,934.03 05/15/24 05/15/24 Purchase - Interest 344928AD8 1.00 503.75 186,437.78 05/15/24 05/15/24 Purchase - Interest 41285JAD0 1.00 715.42 187,153.20 05/15/24 05/15/24 Purchase - Interest 44933LAC7 1.00 2.71 187,155.91 05/15/24 05/15/24 Purchase - Interest 44935FAD6 1.00 23.58 187,179.49 05/15/24 05/15/24 Purchase - Interest 65480BAC1 1.00 22.44 187,201.93 05/15/24 05/15/24 Purchase - Interest 65480JAC4 1.00 520.33 187,722.26 05/15/24 05/15/24 Purchase - Interest 89190GAC1 1.00 16.93 187,739.19 05/15/24 05/15/24 Purchase - Interest 891940AC2 1.00 945.29 188,684.48 05/15/24 05/15/24 Purchase - Principal 14314QAC8 1.00 4,095.74 192,780.22 05/15/24 05/15/24 Purchase - Principal 14318MAD1 1.00 5,412.19 198,192.41 05/15/24 05/15/24 Purchase - Principal 89190GAC1 1.00 12,732.21 210,924.62 05/15/24 05/15/24 Purchase - Principal 44933LAC7 1.00 3,082.50 214,007.12 05/15/24 05/15/24 Purchase - Principal 65480BAC1 1.00 12,740.63 226,747.75 05/15/24 05/15/24 Purchase - Principal 44935FAD6 1.00 4,019.13 230,766.88 05/16/24 05/16/24 Purchase - Interest 362554AC1 1.00 25.92 230,792.80

Page 34 ends

For the Month Ending May 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
05/16/24 05/16/24 Purchase - Interest 36265QAD8 1.00 1,104.58 231,897.38 05/16/24 05/16/24 Purchase - Principal 362554AC1 1.00 3,901.87 235,799.25 05/20/24 05/20/24 Purchase - Interest 43815QAC1 1.00 1,442.67 237,241.92 05/21/24 05/21/24 Purchase - Interest 438123AC5 1.00 401.63 237,643.55 05/21/24 05/21/24 Purchase - Interest 43815GAC3 1.00 36.26 237,679.81 05/21/24 05/21/24 Purchase - Principal 43815GAC3 1.00 4,798.00 242,477.81 05/24/24 05/24/24 IP Fees April 2024 1.00 (3,887.31) 238,590.50 05/24/24 05/24/24 U.S. Bank Fees March 2024 1.00 (242.07) 238,348.43 05/28/24 05/28/24 Purchase - Interest 3136BQDE6 1.00 1,920.42 240,268.85 05/28/24 05/28/24 Purchase - Interest 3137BGK24 1.00 624.44 240,893.29 05/28/24 05/28/24 Purchase - Interest 3137BNGT5 1.00 629.06 241,522.35 05/28/24 05/28/24 Purchase - Interest 3137BSP72 1.00 1,215.96 242,738.31 05/28/24 05/28/24 Purchase - Interest 3137BTUM1 1.00 1,050.06 243,788.37 05/28/24 05/28/24 Purchase - Interest 3137BXQY1 1.00 1,477.67 245,266.04 05/28/24 05/28/24 Purchase - Interest 3137F1G44 1.00 1,486.38 246,752.42 05/28/24 05/28/24 Purchase - Interest 3137HACX2 1.00 2,208.71 248,961.13 05/28/24 05/28/24 Purchase - Interest 3137HAD45 1.00 1,742.83 250,703.96 05/28/24 05/28/24 Purchase - Interest 3137HAMH6 1.00 3,100.00 253,803.96 05/28/24 05/28/24 Purchase - Interest 3137HAMS2 1.00 2,000.00 255,803.96 05/28/24 05/28/24 Purchase - Interest 3137HAQ74 1.00 1,975.00 257,778.96 05/28/24 05/28/24 Purchase - Interest 3137HAST4 1.00 1,515.63 259,294.59 05/28/24 05/28/24 Purchase - Interest 3137HB3D4 1.00 760.35 260,054.94

Page 35 ends

For the Month Ending May 31, 2024Account Statement

Page 36 ends

For the Month Ending May 31, 2024Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDate Transaction Description of TransactionUnit PriceDate 312,890.23
312,890.23
312,890.23
192,578.68
3,008.88

0.00 (8,638,817.59)
8,834,934.86
116,772.96
886.23
312,890.23

0.00 (2,405,643.24)
2,441,662.77
276,870.70
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
May January-May

5.43%

Page 37 ends

Review of Investment Performance

CAMP Accounts

Investment Performance Review
For the Quarter Ended March 31, 2024
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
California Affiliated Risk Management Authorities Market Update For
the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Current Market Themes
▸ The U.S. economy is characterized by:
▹ Robust growth that continues to show surprising strength ▹ Sticky inflation that
remains above the Federal Reserve (Fed)’s 2% target
▹ Labor markets continuing to show impressive job gains and low unemployment ▹ Resilient consumer spending supported by wage growth that is outpacing inflation ▸ Federal Reserve reaffirms rate cut expectations
▹ Forecast of 75 basis points of cuts this year
▹ After entering the
year expecting 6 cuts in 2024, markets have adjusted their expectations to only 2 to 3 cuts in 2024
▹ Fed officials reaffirm that restoring price stability is the priority, but further confidence in inflation moving toward the 2% target is needed, which may delay the timing of rate cuts ▸ Treasury yields increase following the change in market expectations ▹ Yields on maturities between 2 and 10 years rose 30-40 basis points during the quarter ▹ Yield curve inversion
persists
▹ Spreads in most sectors fell to multi-year lows given the strong economic environment

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
1 1.5%

2.5%

3.5%

4.5%

5.5%

6.5%

7.5%

8.5%

9.5%
Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Consumer Price Index
Year-Over-Year Changes
CPI CPI Forecast Fed Target
Inflation Remains Range Bound After Significant
Decline in CPI in 2022 and Early 2023
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 March 31, 2024
Market Update
Source: Bloomberg, as of 4/10/2024.

CPI exceeds expectations
Federal Reserve Inflation Target

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
2 Source: Bloomberg. Job openings as of February 2024. Monthly change in nonfarm payrolls and unemployment rate as of March 2024. Data is seasonally adjusted.

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

CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Labor Market Remains Strong
0 5
10 15
20 25
Feb-20 Feb-21 Feb-22 Feb-23 Feb-24
Millions
Job Openings vs. Unemployed Workers
Job Openings Unemployed

2.3mm gap
146
278
303
240
184
210
246
165
182
290
256
270
303
0 50
100
150
200
250
300
350
400
450
500
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
Jan-24
Feb-24
Mar-24
Thousands
Monthly Change In
Nonfarm Payrolls
Jobs-to-jobless ratio
c
ontinues to come into better
balance
829K Q1
637K Q4
Apr-20

14.8 Mar-24

3.8 0%
2%
4%
6%
8%
10%
12%
14%
16%
2020 2021 2022 2023 2024
Unemployment Rate

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
3 Source: Bureau of Economic Analysis, U.S. Department of Commerce; as of March 28, 2024.

GDPNow estimates provided by the Federal Reserve Bank of Atlanta; as of April 4, 2024. The Atlanta Fed GDPNow estimate is a model-based projection not subject to judgmental adjustments. It is not an official forecast of the Atlanta Fed, its president, the Federal Reserve System, or the Federal Open Market Committee. Bloomberg Forecasts as of March 2024.

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

CLIENT NAME
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Atlanta Fed
GDPNow Forecast2.6%

2.2% 2.1%

4.9%

3.4%

2.0%
0%
1%
2 %
3%
4%
5%
6%
Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Forecast
U.S. GDP

2.5%
Bloomberg Forecast
Consumer Spending Continues to Drive Strong Economic Growth

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
4 Summary of Economic Projections Show Stronger Economic Story © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: Federal Reserve, latest economic projections as of March 2024.

For the Quarter Ended March 31, 2024
Ma
rket Update

4.6%

3.9%

3.1%

2.6%
0%
2%
4 %
6%
8%
2024 2025 2026 Longer
Run
Federal Funds Rate
December Projections March Projections

2.6%

2.2% 2.0% 2.0%
0%
1%
2 %
3%
4%
2024 2025 2026 Longer
Run
PCE Inflation
December Projections March Projections

4.0% 4.1% 4.0% 4.1%
0%
1%
2 %
3%
4%
5%
6%
2024 2025 2026 Longer
Run
Unemployment Rate
December Projections March Projections

2.1% 2.0% 2.0% 1.8%
0%
1%
2 %
3%
4%
2024 2025 2026 Longer
Run
Change in Real GDP
December Projections March Projections

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
5 Market Reversed Course and Now
Expects a Slower Pace of Rate Cuts
Source: Bloomberg, as of March 2024.
© 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 March 31, 2024
Market Update
Market reprices
expectations for
number of cuts
in 2024 in
response to
hotter than
expected
inflation and a
resilient labor
market

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%

5.5%
Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25
Implied Fed Funds Rate
3-Month Range Fed Funds as of March 28, 2024 Fed Funds as of January 02, 2024 +72 bps
+76 bps

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
6 Yields Reprice on Fed Patience
Source: Federal Reserve, Bloomberg, as of 3/31/2024.
© 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 March 31, 2024
Market Update
From the
March 24 FOMC
Meeting
Press Conference

4.62%
3%
4%
5%
6%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
2-Year Treasury Yield

4.35%
3%
4%
5%
6%
Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
10-Year Treasury Yield
+37 bps
+32 bps
“…the Committee needs to see more evidence to build our confidence that inflation is moving down sustainably toward our 2 percent goal, and we don’t expect that it will be appropriate to begin to reduce rates until we’re more
confident that that is the case”

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
7 Treasury Yields Move Higher as Market Evolves to Revised Fed Expectations 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
Source: Bloomberg, as of 3/31/2024.

For the Quarter Ended March 31, 2024
Marke
t Update

5.32%

5.02%

4.62%

4.41% 4.21% 4.21% 4.20% 4.34%

0.00%

1.0 0%

2.00%

3.00%

4.00%

5.00%

6.00%
Yield
Maturity
U.S. Treasury Yield Curve
1 Year Range
March 31, 2024
December 31, 2023
3mo 2yr 5yr 7yr 10yr 20yr 30yr

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
8 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
Source: ICE BofA 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of March 31, 2024. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average l
ife; spreads on agencies are relative to comparable maturity Treasuries.

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

For the Quarter Ended March 31, 2024
Ma
rket Update
-0.1%

0.0%

0.1%

0.2%
Dec-23 Jan-24 Feb-24 Mar-24
Federal Agency Yield Spreads
Bullet Callable 1 Year Average

0.3%

0.5%

0.7%

0.9%
Dec-23 Jan-24 Feb-24 Mar-24
Corporate Notes A-AAA Yield Spreads
1-5 Yr. AAA-A Corp 1 Year Average

0.3%

0.5%

0.7%

0.9%
Dec-23 Jan-24 Feb-24 Mar-24
Mortgage-Backed Securities Yield Spreads
Agency MBS Agency CMBS Index 1 Year Average

0.3%

0.5%

0.7%

0.9%
Dec-23 Jan-24 Feb-24 Mar-24
Asset-Backed Securities AAA Yield Spreads
AAA ABS 1 Year Average
6 bps 76 bps
57 bps
78 bps

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
9 Factors to Consider for 6-12 Months
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 March 31, 2024
Market Update
Monetary Policy:
• Fed guidance implies a soft landing and 3 rate
cuts for 2024. Market expectations have been
volatile but recently converged to Fed
projections.
• Globally, central banks are nearing the start of
cutting cycles with the Swiss central bank
being the first to cut.

Economic Growth:
• U.S. resiliency continues as expectations for a
soft-landing command center stage. Strength is
led by consumers supported by a robust labor
market.
• Eurozone growth set to improve in 2024 H2.

Although Chinese growth targets seem
aspirational, emerging economies are
expected to grow.

Inflation:
• Inflation continued to moderate but has proven
to be stickier than expected, predominantly in
housing and other service sectors.
• Further upside surprises in inflation indicators
may complicate the Fed’s path for monetary
policy.

Financial Conditions:
• Financial conditions continue to soften as the
“Fed pivot” remains in play amid sustained
strength in various economic indicators.
• With interest rates elevated, we continue to
focus on identifying potential pockets of stress
within financial markets.

Consumer Spending (U.S.):
• Consumer confidence reached a multi-year
high following strong wage growth, a resilient
labor market, and slowly moderating inflation.
• Hiring and wage growth have played a role in
boosting personal income, which combined
with record U.S. household net worth,
supported spending.

Labor Markets:
• The labor market remains strong, but a few
indicators are moderating from the extreme
tightness of 2022.
• No sign of weakness in typical economically-
sensitive industries, like retail, leisure and
hospitality, and construction.

Current outlook Outlook one quarter ago
Negative Slightly
Negative
Neutral Slightly
Positive
Positive
Statements and opinions expressed about the next 6-12 months were developed based on our independent research with information obtained from Bloomberg. The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC at the time of distribution (3/31/2024) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management LLC cannot guarantee its accuracy, completeness, or suitability.

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
10 © PFM Asset Management LLC pfmam.com|
Portfolio Review
© PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Portfolio Snapshot
|
Total market value includes accrued interest and balances invested in CAMP, as of March 31, 2024.

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
8%
17%
45%
26%
4%5%
34%
27%
22%
12%
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 | 43%
Corporate | 24%
Agency CMBS | 14%
ABS | 10%
Federal Agency | 4%
Municipal | 3%
Negotiable CD | 2%
Joint Powers Authority | <1%
Sector Allocation
AAA | 10%
AAAm | <1%
AA+ | 63%
AA | 4%
AA- | 6%
A+ | 3%
A | 5%
A- | 5%
BBB+ | 1%
Not Rated | 2%
Portfolio Statistics
Portfolio Effective Duration 2. 51 years
Benchmark Effective Duration 2.52 years
Portfolio Credit Quality AA
Yield At Market 4.66%
Yield At Cost 3.70%
Total Market Value $52,184,078.93
$51,668,359.01Managed Account Sub-Total
$221,402.57Pool
$294,317.35Accrued Interest
11 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Account Summary
|

0.4%

10.0%

23.7%

1.8%

2.8%

14.0%

4.1%

43.1%

0.0% 20.0% 40.0% 60.0% 80.0% 100.0%
CAMP - $221,403
ABS - $5,241,010
Corporate - $12,344,876
Negotiable CD - $924,560
Municipal - $1,482,816
Agency CMBS - $7,322,446
Federal Agency - $2,134,081
U.S. Treasury - $22,512,889
Portfolio Allocation Sector Limit for Analysis*
Sector Allocation Analytics
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest. *Se
ctor Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided. 12 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
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 March 31, 2024, the account(s) managed by PFM Asset Management ("PFMAM") w
ere in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Portfolio Activity
Net Activity by Sector
($ millions)
Federal Agency
Supranational
ABS
Corporate
Agency CMBS
U.S. Treasury
Federal Agency
Su
pranational
ABS
Corporate
Agency CMBS
U.S. Treasury
($4.0) ($2.0) $0.0 $2.0 $4.0
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
U.S. Treasury $1,104,801
Agency CMBS $287,190
Corporate $233,119
ABS ($141,818)
Supranational ($618,126)
Federal Agency ($665,277)
$199,888Total Net Activity
Sales/Maturities Purchases
14 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Portfolio Characteristics
|
Historical Sector Allocation
Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. 41%
5%
14%
1%
3%
2%
23%
10%
Dec-23
43%
4%
14%
3%
2%
24%
10%
Mar-24
15 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
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. -1.0%

0.0%

1.0%

2.0%

3.0%

4.0%
Return
Portfolio Benchmark
Portfolio Performance
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years 10 Years¹ Interest Earned² $3 76,675 $1,248,507 $2,198,273 $3,621,961 $6,214,062 Change in Market Value ($296,280) $391,549 ($1,634,833) ($547,268) ($570,280) $80,395Total Dollar Return $1,640,056 $563,440 $3,074,693 $5,643,782 Total Return³
Portfolio 0.15% 3.24% -0.27% 1.28% 1.41%
Benchmark⁴ -0.02% 2.42% -0.59% 0.96% 1.12%
3 Months 1 Year 3 Years 5 Years 10 Years
Difference 0.17% 0.82% 0.33% 0.32% 0.29%
16 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
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
Real
ized Gains / (Losses)³
Change in Amortized Cost
Total Earnings
3 Months
$376,675
($14
7,358)
$95,137
$324,454
1 Year
$1,248,507
($51
0,463)
$432,797
$1,170,841
3 Years
$2,198,273
($86
6,327)
$474,801
$1,806,747
5 Year
$3,621,961
$50,
131
$474,044
$4,146,136
10 Year¹
$6,214,062
($17
3,131)
$335,593
$6,376,524
17 Negative Slightly
Negative Neutral Slightly
Positive PositiveCurrent outlook Outlook one quarter ago © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Sector Our Investment Preferences

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

T R E A S U R I E S
T-Bill
T-N
ote

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

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

P O R A T E S
Financials
Ind
ustrials

S E C U R I T I Z E D
Asset-Backed
Age
ncy Mortgage-Backed
Agency CMBS

M U N I C I P A L S
For the Quarter Ended March 31, 2024
Market Update
Fixed-Income Sector Outlook – 2Q 2024

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
18 © PFM Asset Management LLC | pfmam.com
Issuer Distribution
© PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
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 43.3%
UNITED STATES TREASURY 43.3% AA / Aaa / AA
Federal Agency 4.1%
FANNIE MAE 1.8% AA / Aaa / AA
FEDERAL HOME LOAN BANKS 0.3% AA / Aaa / NR
FREDDIE MAC 2.0% AA / Aaa / AA
Agency CMBS 14.1%
FANNIE MAE 1.0% AA / Aaa / AA
FREDDIE MAC 13.1% AA / Aaa / AA
Municipal 2.9%
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
Corporate 23.8%
ABBOTT LABORATORIES 0.4% AA / Aa / NR
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Corporate 23.8%
AIR PRODUCTS & CHEMICALS 0.7% A / A / NR
AMAZON.COM INC 0.9% AA / A / AA
AMERICAN EXPRESS CO 0.7% BBB / 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
BLACKROCK INC 1.5% AA / Aa / NR
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 0.6% A / A / A
CINTAS CORPORATION NO. 2 0.1% A / A / NR
CISCO SYSTEMS INC 0.8% AA / A / NR
CITIGROUP INC 1.5% A / Aa / A
DEERE & COMPANY 0.7% 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

Issuer Diversification
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Corporate 23.8%
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
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 10.1%
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 1.6% 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 0.4% AAA / Aaa / NR
TOYOTA MOTOR CORP 0.6% AAA / NR / AAA
100.0%Total
20 © PFM Asset Management LLC | pfmam.com
Portfolio Transactions
© PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
D
ate
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
BUY
1/2/2024 1/5/2024 1,175,000.00 91282CFZ9 US TREASURY NOTES 3.87% 11/30/2027 1,174,980.43 3.98% 2/1/2024 2/8/2024 290,000.00 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 293,157.52 4.34% 2/2/2024 2/6/2024 600,000.00 91282CGP0 US TREASURY NOTES 4.00% 2/29/2028 612,991.33 3.89% 2/6/2024 2/8/2024 340,000.00 009158BH8 AIR PRODUCTS & CHEMICALS CORP NOTES (CAL 4.60% 2/8/2029 339,547.80 4.63% 2/21/2024 2/26/2024 420,000.00 17275RBR2 CISCO SYSTEMS INC CORPORATE NOTES (CALLA 4.85% 2/26/2029 419,853.00 4.86% 3/1/2024 3/6/2024 1,350,000.00 91282CGP0 US TREASURY NOTES 4.00% 2/29/2028 1,336,167.54 4.30% 3/5/2024 3/14/2024 50,000.00 09290DAA9 BLACKROCK FUNDING INC CORPORATE NOTES (C 4.70% 3/14/2029 49,909.50 4.74% 3/6/2024 3/14/2024 725,000.00 09290DAA9 BLACKROCK FUNDING INC CORPORATE NOTES (C 4.70% 3/14/2029 725,355.25 4.69% Total BUY 4,950,000.00 4,951,962.37 0.00

INTEREST
1/1/2024 1/1/2024 60,000.00 20772KJW0 CT ST TXBL GO BONDS 1.99% 7/1/2024 599.40 1/1/2024 1/1/2024 310,000.00 341271AD6 FL ST BOARD OF ADMIN TXBL REV BONDS 1.25% 7/1/2025 1,949.90 1/1/2024 1/25/2024 550,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 1,486.38 1/1/2024 1/25/2024 550,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 2,208.71 1/1/2024 1/25/2024 438,814.98 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,746.85 1/1/2024 1/25/2024 500,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 1,975.00 1/1/2024 1/25/2024 379,432.02 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 1,058.30 21 © PFM Asset Management LLC pfmam.com

INTEREST
1/1/2024 1/25/2024 275,000.00 3137BNGT5 FHMS K054 A2 2.74% 1/1/2026 629.06 1/1/2024 1/25/2024 246,403.24 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 628.74 1/1/2024 1/25/2024 800,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 3,100.00 1/1/2024 1/25/2024 550,000.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 1,477.67 1/1/2024 1/25/2024 275,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 1,113.75 1/1/2024 1/25/2024 180,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 760.35 1/1/2024 1/25/2024 500,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 2,000.00 1/1/2024 1/25/2024 400,000.00 3137HBC69 FHMS KJ48 A1 4.85% 5/1/2028 1,619.33 1/1/2024 1/25/2024 550,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 1,920.42 1/1/2024 1/25/2024 550,000.00 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 1,215.96 1/1/2024 1/25/2024 375,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 1,515.63 1/8/2024 1/8/2024 400,000.00 38141EC23 GOLDMAN SACHS GROUP INC (CALLABLE) BONDS 3.85% 7/8/2024 7,700.00 1/8/2024 1/8/2024 225,000.00 14913R2U0 CATERPILLAR FINL SERVICE CORPORATE NOTES 1.70% 1/8/2027 1,912.50 1/12/2024 1/12/2024 375,000.00 89236TKQ7 TOYOTA MOTOR CREDIT CORP CORPORATE NOTES 4.62% 1/12/2028 8,671.88 1/14/2024 1/14/2024 375,000.00 24422EXB0 JOHN DEERE CAPITAL CORP CORPORATE NOTES 4.95% 7/14/2028 9,281.25 1/15/2024 1/15/2024 320,000.00 254683CY9 DCENT 2023-A1 A 4.31% 3/15/2028 1,149.33 1/15/2024 1/15/2024 490,000.00 14041NGD7 COMET 2023-A1 A 4.42% 5/15/2028 1,804.83 22 © PFM Asset Management LLC pfmam.com

INTEREST
1/15/2024 1/15/2024 245,000.00 14041NGB1 COMET 2022-A3 A 4.95% 10/15/2027 1,010.63 1/15/2024 1/15/2024 410,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 1,786.92 1/15/2024 1/15/2024 55,241.14 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 34.07 1/15/2024 1/15/2024 195,000.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 94.25 1/15/2024 1/15/2024 190,000.00 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 771.08 1/15/2024 1/15/2024 44,027.41 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 19.08 1/15/2024 1/15/2024 140,000.00 65480JAC4 NAROT 2022-B A3 4.46% 5/17/2027 520.33 1/15/2024 1/15/2024 350,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 1,612.92 1/15/2024 1/15/2024 40,000.00 87612EBM7 TARGET CORP CORP NOTES (CALLABLE) 1.95% 1/15/2027 390.00 1/15/2024 1/15/2024 133,305.37 65480BAC1 NAROT 2021-A A3 0.33% 10/15/2025 36.66 1/15/2024 1/15/2024 180,000.00 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 771.90 1/15/2024 1/15/2024 170,000.00 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 715.42 1/15/2024 1/15/2024 350,000.00 254683CZ6 DCENT 2023-A2 A 4.93% 6/15/2028 1,437.92 1/15/2024 1/15/2024 170,000.00 05522RDG0 BACCT 2023-A1 A1 4.79% 5/15/2028 678.58 1/15/2024 1/15/2024 405,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 1,741.50 1/15/2024 1/15/2024 210,000.00 14318MAD1 CARMX 2022-3 A3 3.97% 4/15/2027 694.75 1/15/2024 1/15/2024 21,690.17 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 6.87 23 © PFM Asset Management LLC pfmam.com

INTEREST
1/15/2024 1/15/2024 245,000.00 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 945.29 1/15/2024 1/15/2024 132,375.83 89190GAC1 TAOT 2021-B A3 0.26% 11/17/2025 28.68 1/15/2024 1/15/2024 130,000.00 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 503.75 1/16/2024 1/16/2024 275,000.00 36265QAD8 GMCAR 2022-4 A3 4.82% 8/16/2027 1,104.58 1/16/2024 1/16/2024 61,236.98 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 34.70 1/18/2024 1/18/2024 320,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 1,442.67 1/21/2024 1/21/2024 85,000.00 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 401.63 1/21/2024 1/21/2024 69,655.21 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 51.08 1/21/2024 1/21/2024 425,000.00 3137EAEU9 FREDDIE MAC NOTES 0.37% 7/21/2025 796.88 1/26/2024 1/26/2024 475,000.00 06406RBA4 BANK OF NY MELLON CORP (CALLABLE) CORPOR 2.05% 1/26/2027 4,868.75 1/27/2024 1/27/2024 225,000.00 459200KS9 IBM CORP CORPORATE NOTES 4.00% 7/27/2025 4,500.00 1/31/2024 1/31/2024 3,800,000.00 91282CCP4 US TREASURY NOTES 0.62% 7/31/2026 11,875.00 1/31/2024 1/31/2024 2,600,000.00 91282CFB2 US TREASURY NOTES 2.75% 7/31/2027 35,750.00 2/1/2024 2/1/2024 225,000.00 06051GFS3 BANK OF AMERICA CORP NOTES 3.87% 8/1/2025 4,359.38 2/1/2024 2/1/2024 100,000.00 157411TK5 CHAFFEY UHSD, CA TXBL GO BONDS 2.10% 8/1/2024 1,050.50 2/1/2024 2/1/2024 100,000.00 60412AVJ9 MN ST TXBL GO BONDS 0.63% 8/1/2025 315.00 2/1/2024 2/1/2024 140,000.00 54438CYK2 LOS ANGELES CCD, CA TXBL GO BONDS 0.77% 8/1/2025 541.10 24 © PFM Asset Management LLC pfmam.com

INTEREST
2/1/2024 2/1/2024 130,000.00 798306WP7 SAN JUAN USD, CA TXBL GO BONDS 0.85% 8/1/2025 553.80 2/1/2024 2/25/2024 550,000.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 1,477.67 2/1/2024 2/25/2024 438,589.06 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,745.95 2/1/2024 2/25/2024 550,000.00 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 1,215.96 2/1/2024 2/25/2024 550,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 1,486.38 2/1/2024 2/25/2024 180,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 760.35 2/1/2024 2/25/2024 800,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 3,100.00 2/1/2024 2/25/2024 550,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 1,920.42 2/1/2024 2/25/2024 378,720.49 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 1,056.31 2/1/2024 2/25/2024 375,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 1,515.63 2/1/2024 2/25/2024 399,541.01 3137HBC69 FHMS KJ48 A1 4.85% 5/1/2028 1,617.48 2/1/2024 2/25/2024 500,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 1,975.00 2/1/2024 2/25/2024 550,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 2,208.71 2/1/2024 2/25/2024 500,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 2,000.00 2/1/2024 2/25/2024 245,996.40 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 627.70 2/1/2024 2/25/2024 275,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 1,113.75 2/1/2024 2/25/2024 275,000.00 3137BNGT5 FHMS K054 A2 2.74% 1/1/2026 629.06 25 © PFM Asset Management LLC pfmam.com

INTEREST
2/6/2024 2/6/2024 175,000.00 69371RQ66 PACCAR FINANCIAL CORP CORPORATE NOTES 1.80% 2/6/2025 1,575.00 2/6/2024 2/6/2024 750,000.00 594918BY9 MICROSOFT CORP CORP NOTES (CALLABLE) 3.30% 2/6/2027 12,375.00 2/7/2024 2/7/2024 350,000.00 637432NP6 NATIONAL RURAL UTIL COOP CORP NOTES (CAL 3.40% 2/7/2028 5,950.00 2/12/2024 2/12/2024 70,000.00 05565EBU8 BMW US CAPITAL LLC CORPORATE NOTES 0.75% 8/12/2024 262.50 2/12/2024 2/12/2024 175,000.00 05565EBW4 BMW US CAPITAL LLC (CALLABLE) CORPORATE 1.25% 8/12/2026 1,093.75 2/15/2024 2/15/2024 50,986.18 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 31.44 2/15/2024 2/15/2024 245,000.00 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 945.29 2/15/2024 2/15/2024 350,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 1,612.92 2/15/2024 2/15/2024 140,000.00 65480JAC4 NAROT 2022-B A3 4.46% 5/17/2027 520.33 2/15/2024 2/15/2024 118,768.93 89190GAC1 TAOT 2021-B A3 0.26% 11/17/2025 25.73 2/15/2024 2/15/2024 130,000.00 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 503.75 2/15/2024 2/15/2024 18,336.11 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 5.81 2/15/2024 2/15/2024 320,000.00 254683CY9 DCENT 2023-A1 A 4.31% 3/15/2028 1,149.33 2/15/2024 2/15/2024 405,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 1,741.50 2/15/2024 2/15/2024 170,000.00 05522RDG0 BACCT 2023-A1 A1 4.79% 5/15/2028 678.58 2/15/2024 2/15/2024 210,000.00 14318MAD1 CARMX 2022-3 A3 3.97% 4/15/2027 694.75 2/15/2024 2/15/2024 410,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 1,786.92 26 © PFM Asset Management LLC pfmam.com

INTEREST
2/15/2024 2/15/2024 195,000.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 94.25 2/15/2024 2/15/2024 190,000.00 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 771.08 2/15/2024 2/15/2024 490,000.00 14041NGD7 COMET 2023-A1 A 4.42% 5/15/2028 1,804.83 2/15/2024 2/15/2024 39,613.16 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 17.17 2/15/2024 2/15/2024 85,000.00 882508BV5 TEXAS INSTRUMENTS INC CORP NOTE (CALLABL 4.60% 2/15/2028 1,955.00 2/15/2024 2/15/2024 120,292.16 65480BAC1 NAROT 2021-A A3 0.33% 10/15/2025 33.08 2/15/2024 2/15/2024 350,000.00 254683CZ6 DCENT 2023-A2 A 4.93% 6/15/2028 1,437.92 2/15/2024 2/15/2024 245,000.00 14041NGB1 COMET 2022-A3 A 4.95% 10/15/2027 1,010.63 2/15/2024 2/15/2024 170,000.00 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 715.42 2/15/2024 2/15/2024 180,000.00 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 747.00 2/16/2024 2/16/2024 57,381.81 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 32.52 2/16/2024 2/16/2024 275,000.00 36265QAD8 GMCAR 2022-4 A3 4.82% 8/16/2027 1,104.58 2/18/2024 2/18/2024 320,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 1,442.67 2/20/2024 2/20/2024 375,000.00 110122DE5 BRISTOL-MYERS SQUIBB CO CORP NOTES (CALL 3.90% 2/20/2028 7,312.50 2/21/2024 2/21/2024 64,458.89 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 47.27 2/21/2024 2/21/2024 85,000.00 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 401.63 2/24/2024 2/24/2024 175,000.00 46647PCV6 JPMORGAN CHASE & CO CORP NOTES (CALLABLE 2.59% 2/24/2026 2,270.63 27 © PFM Asset Management LLC pfmam.com

INTEREST
2/25/2024 2/25/2024 350,000.00 3135G05X7 FANNIE MAE NOTES 0.37% 8/25/2025 656.25 2/28/2024 2/28/2024 400,000.00 254687FK7 WALT DISNEY COMPANY/THE (CALLABLE) 1.75% 8/30/2024 3,500.00 2/29/2024 2/29/2024 600,000.00 91282CGP0 US TREASURY NOTES 4.00% 2/29/2028 12,000.00 3/1/2024 3/1/2024 200,000.00 13063D3N6 CA ST MUNICIPAL BONDS 4.84% 3/1/2027 4,846.00 3/1/2024 3/25/2024 275,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 1,113.75 3/1/2024 3/25/2024 550,000.00 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 1,215.96 3/1/2024 3/25/2024 500,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 2,000.00 3/1/2024 3/25/2024 275,000.00 3137BNGT5 FHMS K054 A2 2.74% 1/1/2026 629.06 3/1/2024 3/25/2024 290,000.00 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 1,104.90 3/1/2024 3/25/2024 550,000.00 3136BQDE6 FNA 2023-M6 A2 4.19% 7/1/2028 1,920.42 3/1/2024 3/25/2024 550,000.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 1,477.67 3/1/2024 3/25/2024 180,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 760.35 3/1/2024 3/25/2024 438,361.93 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 1,745.05 3/1/2024 3/25/2024 245,588.15 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 626.66 3/1/2024 3/25/2024 399,079.23 3137HBC69 FHMS KJ48 A1 4.85% 5/1/2028 1,615.61 3/1/2024 3/25/2024 550,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P 3.24% 4/1/2027 1,486.38 3/1/2024 3/25/2024 500,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 1,975.00 28 © PFM Asset Management LLC pfmam.com

INTEREST
3/1/2024 3/25/2024 375,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 1,515.63 3/1/2024 3/25/2024 550,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 2,208.71 3/1/2024 3/25/2024 378,006.57 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 1,054.32 3/1/2024 3/25/2024 800,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 3,100.00 3/4/2024 3/4/2024 80,000.00 025816CQ0 AMERICAN EXPRESS CO CORP NOTES (CALLABLE 2.25% 3/4/2025 900.00 3/4/2024 3/4/2024 150,000.00 3130AK5E2 FEDERAL HOME LOAN BANK NOTES 0.37% 9/4/2025 281.25 3/4/2024 3/4/2024 300,000.00 025816CS6 AMERICAN EXPRESS CO CORP NOTES (CALLABLE 2.55% 3/4/2027 3,825.00 3/10/2024 3/10/2024 410,000.00 771196BT8 ROCHE HOLDINGS INC (CALLABLE) CORPORATE 2.13% 3/10/2025 4,370.60 3/12/2024 3/12/2024 775,000.00 037833DB3 APPLE INC (CALLABLE) BONDS 2.90% 9/12/2027 11,237.50 3/15/2024 3/15/2024 104,512.88 89190GAC1 TAOT 2021-B A3 0.26% 11/17/2025 22.64 3/15/2024 3/15/2024 410,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 1,786.92 3/15/2024 3/15/2024 475,000.00 084664CZ2 BERKSHIRE HATHAWAY CORP NOTES (CALLABLE) 2.30% 3/15/2027 5,462.50 3/15/2024 3/15/2024 190,000.00 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 771.08 3/15/2024 3/15/2024 170,000.00 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 715.42 3/15/2024 3/15/2024 350,000.00 254683CZ6 DCENT 2023-A2 A 4.93% 6/15/2028 1,437.92 3/15/2024 3/15/2024 170,000.00 05522RDG0 BACCT 2023-A1 A1 4.79% 5/15/2028 678.58 3/15/2024 3/15/2024 15,014.45 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 4.75 29 © PFM Asset Management LLC pfmam.com

INTEREST
3/15/2024 3/15/2024 325,000.00 650036DT0 NY ST URBAN DEV CORP TXBL REV BONDS 0.87% 3/15/2025 1,413.75 3/15/2024 3/15/2024 35,191.47 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 15.25 3/15/2024 3/15/2024 195,000.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 94.25 3/15/2024 3/15/2024 350,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 1,612.92 3/15/2024 3/15/2024 180,000.00 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 747.00 3/15/2024 3/15/2024 245,000.00 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 945.29 3/15/2024 3/15/2024 140,000.00 65480JAC4 NAROT 2022-B A3 4.46% 5/17/2027 520.33 3/15/2024 3/15/2024 245,000.00 14041NGB1 COMET 2022-A3 A 4.95% 10/15/2027 1,010.63 3/15/2024 3/15/2024 106,746.12 65480BAC1 NAROT 2021-A A3 0.33% 10/15/2025 29.36 3/15/2024 3/15/2024 405,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 1,741.50 3/15/2024 3/15/2024 210,000.00 14318MAD1 CARMX 2022-3 A3 3.97% 4/15/2027 694.75 3/15/2024 3/15/2024 130,000.00 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 503.75 3/15/2024 3/15/2024 490,000.00 14041NGD7 COMET 2023-A1 A 4.42% 5/15/2028 1,804.83 3/15/2024 3/15/2024 225,000.00 002824BM1 ABBOTT LABORATORIES CORPORATE NOTES (CAL 3.87% 9/15/2025 4,359.38 3/15/2024 3/15/2024 320,000.00 254683CY9 DCENT 2023-A1 A 4.31% 3/15/2028 1,149.33 3/15/2024 3/15/2024 46,680.68 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 28.79 3/16/2024 3/16/2024 53,528.62 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 30.33 30 © PFM Asset Management LLC pfmam.com

INTEREST
3/16/2024 3/16/2024 275,000.00 36265QAD8 GMCAR 2022-4 A3 4.82% 8/16/2027 1,104.58 3/18/2024 3/18/2024 320,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 1,442.67 3/21/2024 3/21/2024 59,286.74 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 43.48 3/21/2024 3/21/2024 85,000.00 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 401.63 3/23/2024 3/23/2024 700,000.00 3137EAEX3 FREDDIE MAC NOTES 0.37% 9/23/2025 1,312.50 3/29/2024 3/29/2024 750,000.00 17325FBB3 CITIBANK NA CORP NOTES (CALLABLE) 5.80% 9/29/2028 21,761.25 Total INTEREST 55,591,863.39 336,385.49 0.00

MATURITY
3/18/2024 3/18/2024 105,000.00 808513BN4 CHARLES SCHWAB CORP NOTES (CALLABLE) 0.75% 3/18/2024 105,393.75 Total MATURITY 105,000.00 105,393.75 0.00

PAYDOWNS
1/1/2024 1/25/2024 225.92 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 225.92 1/1/2024 1/25/2024 406.84 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 406.84 1/1/2024 1/25/2024 711.53 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 711.53 1/1/2024 1/25/2024 458.99 3137HBC69 FHMS KJ48 A1 4.85% 5/1/2028 458.99 1/15/2024 1/15/2024 13,606.90 89190GAC1 TAOT 2021-B A3 0.26% 11/17/2025 13,606.90 1/15/2024 1/15/2024 3,354.06 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 3,354.06 31 © PFM Asset Management LLC pfmam.com

PAYDOWNS
1/15/2024 1/15/2024 4,254.96 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 4,254.96 1/15/2024 1/15/2024 13,013.21 65480BAC1 NAROT 2021-A A3 0.33% 10/15/2025 13,013.21 1/15/2024 1/15/2024 4,414.25 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 4,414.25 1/16/2024 1/16/2024 3,855.17 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 3,855.17 1/21/2024 1/21/2024 5,196.32 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 5,196.32 2/1/2024 2/25/2024 461.78 3137HBC69 FHMS KJ48 A1 4.85% 5/1/2028 461.78 2/1/2024 2/25/2024 713.92 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 713.92 2/1/2024 2/25/2024 227.13 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 227.13 2/1/2024 2/25/2024 408.25 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 408.25 2/15/2024 2/15/2024 14,256.05 89190GAC1 TAOT 2021-B A3 0.26% 11/17/2025 14,256.05 2/15/2024 2/15/2024 4,421.69 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 4,421.69 2/15/2024 2/15/2024 13,546.04 65480BAC1 NAROT 2021-A A3 0.33% 10/15/2025 13,546.04 2/15/2024 2/15/2024 3,321.66 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 3,321.66 2/15/2024 2/15/2024 4,305.50 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 4,305.50 2/16/2024 2/16/2024 3,853.19 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 3,853.19 2/21/2024 2/21/2024 5,172.15 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 5,172.15 3/1/2024 3/25/2024 807.82 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 807.82 32 © PFM Asset Management LLC pfmam.com

PAYDOWNS
3/1/2024 3/25/2024 457.36 3137BGK24 FHMS K043 A2 3.06% 12/1/2024 457.36 3/1/2024 3/25/2024 760.56 3137HBC69 FHMS KJ48 A1 4.85% 5/1/2028 760.56 3/1/2024 3/25/2024 327.51 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 327.51 3/15/2024 3/15/2024 12,939.42 89190GAC1 TAOT 2021-B A3 0.26% 11/17/2025 12,939.42 3/15/2024 3/15/2024 4,104.79 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 4,104.79 3/15/2024 3/15/2024 3,188.02 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 3,188.02 3/15/2024 3/15/2024 4,151.06 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 4,151.06 3/15/2024 3/15/2024 12,041.14 65480BAC1 NAROT 2021-A A3 0.33% 10/15/2025 12,041.14 3/16/2024 3/16/2024 3,870.49 362554AC1 GMCAR 2021-4 A3 0.68% 9/16/2026 3,870.49 3/21/2024 3/21/2024 4,951.91 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 4,951.91 Total PAYDOWNS 147,785.59 147,785.59 0.00
SELL
1/2/2024 1/5/2024 350,000.00 3135G03U5 FANNIE MAE NOTES 0.62% 4/22/2025 332,786.08 -17,470.53 1/2/2024 1/4/2024 400,000.00 693475AV7 PNC BANK NA CORP NOTES (CALLABLE) 3.50% 1/23/2024 405,737.11 -524.00 1/2/2024 1/5/2024 350,000.00 3130AJHU6 FEDERAL HOME LOAN BANK NOTES 0.50% 4/14/2025 332,491.25 -17,459.93 2/1/2024 2/8/2024 100,000.00 912828ZW3 US TREASURY NOTES 0.25% 6/30/2025 94,483.82 -4,906.74 2/2/2024 2/6/2024 635,000.00 4581X0DZ8 INTER-AMERICAN DEVEL BK NOTES 0.50% 9/23/2024 618,126.29 -17,948.09 33 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
D
ate
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
SELL
2/6/2024 2/8/2024 400,000.00 91282CFB2 US TREASURY NOTES 2.75% 7/31/2027 382,460.51 3,316.96 2/21/2024 2/26/2024 300,000.00 91282CBW0 US TREASURY NOTES 0.75% 4/30/2026 277,186.43 -19,856.54 3/1/2024 3/6/2024 75,000.00 91282CBW0 US TREASURY NOTES 0.75% 4/30/2026 69,509.74 -3,876.32 3/1/2024 3/6/2024 400,000.00 254687FK7 WALT DISNEY COMPANY/THE (CALLABLE) 1.75% 8/30/2024 392,759.56 -7,237.28 3/1/2024 3/6/2024 400,000.00 02665WCZ2 AMERICAN HONDA FINANCE CORP NOTE 2.40% 6/27/2024 397,656.00 -4,060.07 3/1/2024 3/6/2024 475,000.00 91282CBW0 US TREASURY NOTES 0.75% 4/30/2026 440,228.31 -30,243.96 3/6/2024 3/13/2024 250,000.00 91282CCP4 US TREASURY NOTES 0.62% 7/31/2026 228,930.29 -7,902.13 3/6/2024 3/13/2024 575,000.00 91282CCP4 US TREASURY NOTES 0.62% 7/31/2026 526,539.66 -19,189.67 Total SELL 4,710,000.00 4, 498,895.05 -147,358.30
34 © PFM Asset Management LLC | pfmam.com
Portfolio Holdings
© PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
Portfolio Holdings
|
Managed Account Detail of Securities Held
Security Type/Description
D
ated 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 0.18 221.15 48,757.8150,586.77

US TREASURY NOTES
DTD 06/30/2020 0.250% 06/30/2025
912828ZW3 50,000.00 AA+ Aaa 4/1/2021 4/5/2021 49,031.25 0.72 31.59 47,195.3149,715.07

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 3.53 209.48 182,750.00187,454.81

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 3.04 942.65 822,375.00852,660.92

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 2.74 785.54 685,312.50715,229.17

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
91282CCP4 325,000.00 AA+ Aaa 6/2/2022 6/6/2022 295,762.70 2.94 340.40 296,968.75308,587.77

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 2.84 837.91 731,000.00761,202.51

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 15,923.08 1,971,375.002,002,846.16

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 7,392.86 915,281.25928,828.87

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 1,895.60 234,687.50235,776.13

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 72,032.97 8,918,125.009,104,313.20

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 13,870.88 1,142,812.561,167,610.98

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
91282CFB2 400,000.00 AA+ Aaa 3/2/2023 3/6/2023 373,265.62 4.44 1,843.41 379,875.00379,782.96

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 1,728.19 356,132.81365,046.63

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 2,765.11 569,812.50571,864.65 35 © 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 3,802.03 783,492.19794,342.76

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 15,627.05 1,180,875.001,185,397.22

US TREASURY NOTES
DTD 11/30/2022 3.875% 11/30/2027
91282CFZ9 1,175,000.00 AA+ Aaa 1/2/2024 1/5/2024 1,170,501.95 3.98 15,301.48 1,156,273.441,170,776.57

US TREASURY NOTES
DTD 02/28/2023 4.000% 02/29/2028
91282CGP0 600,000.00 AA+ Aaa 2/2/2024 2/6/2024 602,507.81 3.89 2,086.96 593,062.50602,414.87

US TREASURY NOTES
DTD 02/28/2023 4.000% 02/29/2028
91282CGP0 1,350,000.00 AA+ Aaa 3/1/2024 3/6/2024 1,335,287.11 4.30 4,695.65 1,334,390.631,335,550.02 23,625,000.00 22,367,342.79 162,333.99 22,350,554.75Security Type Sub-Total 3.76 22,769,988.04 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 11,130.00 453,024.61450,000.00

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 10,230.50 450,175.05450,000.00 900,000.00 900,000.00 21,360.50 903,199.66Security 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 2.00 299.70 59,490.0060,000.00

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 2.10 350.17 99,031.00100,000.00

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 0.87 125.67 311,987.00325,000.00

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 0.88 283.54 81,121.4585,000.00 36 © PFM Asset Management LLC pfmam.com

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 1.11 204.42 61,973.6065,119.81

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 1.26 503.20 152,550.40160,000.00

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 1.12 267.32 81,042.4085,146.93

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 0.77 180.37 132,452.60140,000.00

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 0.85 184.60 123,202.30130,000.00

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 0.63 105.00 94,499.00100,000.00

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 0.86 305.29 79,949.3085,000.00

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 4.85 807.67 201,900.00200,000.00 1,535,000.00 1,536,023.10 3,616.95 1,479,199.05Security Type Sub-Total 1.58 1,535,266.74 Joint Powers Authority
CAMP Pool 221,402.57 AAAm NR 221,402.57 0.00 221,402.57221,402.57 221,402.57 221,402.57 0.00 221,402.57Security Type Sub-Total 221,402.57 Federal Agency

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 0.48 309.90 400,591.40424,447.67

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 0.47 131.25 328,539.40349,541.11 37 © PFM Asset Management LLC pfmam.com

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 42.19 140,722.35149,871.11

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 58.33 655,536.00699,376.22

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 1,300.00 606,849.75649,252.45 2,275,000.00 2,266,361.50 1,841.67 2,132,238.90Security Type Sub-Total 0.49 2,272,488.56 Corporate

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 0.54 452.08 209,276.13209,994.87

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 6,544.44 399,029.60400,368.34

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 3,550.56 398,030.80400,075.26

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 71.46 69,112.6169,999.24

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 0.73 481.25 169,875.65176,572.78

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 2.29 135.00 77,734.0079,975.16

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 2.13 509.90 398,204.30410,000.00

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 2.76 311.25 24,323.9824,985.12

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 3,164.06 220,786.88224,728.64 38 © PFM Asset Management LLC pfmam.com

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 3.46 934.38 63,721.6564,994.84

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 2,975.00 220,798.80230,900.52

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 0.82 865.20 312,241.55315,000.00

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 1,245.56 452,574.78474,945.39

NATIONAL AUSTRALIA BK/NY

CORPORATE NOTES
DTD 06/09/2022 3.500% 06/09/2025
63254ABD9 250,000.00 AA- Aa2 5/31/2022 6/9/2022 250,000.00 3.50 2,722.22 245,273.25250,000.00

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 3.46 507.92 48,952.0049,994.78

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 1,600.00 221,373.00225,000.00

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 1,453.13 221,514.08233,602.27

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 0.86 387.50 221,598.45233,397.45

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 1,099.69 218,758.05225,000.00

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 2.60 466.74 170,609.43175,000.00

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 1.19 977.50 207,778.50224,833.69 39 © PFM Asset Management LLC pfmam.com

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 1.26 297.74 160,143.90174,975.13

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 1.81 881.88 207,113.18224,368.54

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 1.99 164.67 37,120.4439,961.86

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 1,758.16 439,585.43474,404.53

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 3,781.25 727,118.25729,460.02

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 4.59 573.75 279,772.80283,848.34

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 2.70 485.56 446,393.13469,733.52

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 4,950.00 285,588.90288,987.91

NATIONAL AUSTRALIA BK/NY

CORPORATE NOTES
DTD 06/09/2022 3.905% 06/09/2027
63254ABE7 500,000.00 AA- Aa2 1/13/2023 1/18/2023 488,325.00 4.50 6,074.44 486,069.50491,522.33

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 1,186.18 733,814.18749,762.55

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 3,805.99 372,993.00375,985.61

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 1,785.00 331,640.05333,831.54 40 © PFM Asset Management LLC pfmam.com

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 4.04 499.61 84,904.6386,660.64

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 1,665.63 363,573.38361,833.53

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 1,008.67 59,317.4459,910.54

JOHN DEERE CAPITAL CORP

CORPORATE NOTES
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 375,000.00 A A1 7/21/2023 7/25/2023 377,865.00 4.78 3,970.31 377,242.88377,469.01

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 5.92 241.79 776,103.00746,602.44

AIR PRODUCTS & CHEMICALS CORP

NOTES (CAL
DTD 02/08/2024 4.600% 02/08/2029
009158BH8 340,000.00 A A2 2/6/2024 2/8/2024 339,547.80 4.63 2,302.56 337,439.46339,559.56

CISCO SYSTEMS INC CORPORATE

NOTES (CALLA
DTD 02/26/2024 4.850% 02/26/2029
17275RBR2 420,000.00 AA- A1 2/21/2024 2/26/2024 419,853.00 4.86 1,980.42 422,352.84419,855.51

BLACKROCK FUNDING INC

CORPORATE NOTES (C
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 50,000.00 AA- Aa3 3/5/2024 3/14/2024 49,909.50 4.74 110.97 50,027.9549,910.29

BLACKROCK FUNDING INC

CORPORATE NOTES (C
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 725,000.00 AA- Aa3 3/6/2024 3/14/2024 725,355.25 4.69 1,609.10 725,405.28725,352.10 12,595,000.00 12,576,427.60 69,588.52 12,275,287.11Security Type Sub-Total 3.39 12,503,363.85 Agency CMBS
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24 245,130.79 AA+ Aaa 3/19/2020 3/25/2020 257,272.42 1.95 625.49 240,982.61246,861.26 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 4.37 629.06 264,859.26267,661.13 41 © PFM Asset Management LLC pfmam.com

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 1,486.38 527,722.34531,881.38 FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
3137HBC69 398,318.67 AA+ Aaa 12/6/2023 12/14/2023 398,315.48 4.86 1,612.53 397,821.80398,315.68 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 2,208.71 551,600.91554,702.45 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 438,034.42 AA+ Aaa 7/19/2023 7/27/2023 438,023.50 4.78 1,743.74 435,604.46438,025.04 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 1,920.42 539,097.82541,947.03 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 3,100.00 797,536.43789,353.85 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 1,975.00 500,056.14489,953.52 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 2,000.00 501,499.82494,573.68 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 1,515.63 376,815.15363,957.47 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 5.14 760.35 182,466.18179,513.98 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 1,113.75 276,557.75274,256.40 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
3137HBLV4 290,000.00 AA+ Aaa 2/1/2024 2/8/2024 292,899.71 4.34 1,104.90 288,417.12292,820.06 7,403,682.63 7,272,513.94 25,541.66 7,296,904.08Security Type Sub-Total 4.67 7,290,243.65 42 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
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
HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 11,826.43 AAA NR 4/20/2021 4/28/2021 11,825.19 0.38 2.00 11,727.7911,826.02 NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
65480BAC1 94,704.98 AAA Aaa 6/15/2021 6/23/2021 94,703.37 0.33 13.89 93,081.9994,704.41 TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
89190GAC1 91,573.46 AAA NR 6/8/2021 6/14/2021 91,563.59 0.26 10.58 90,008.6791,569.83 HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
43815GAC3 54,334.83 NR Aaa 11/16/2021 11/24/2021 54,323.38 0.89 13.28 53,027.2054,329.86 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 31,040.41 AAA NR 4/13/2021 4/21/2021 31,033.71 0.52 7.17 30,532.3831,037.80 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 42,575.89 AAA NR 11/9/2021 11/17/2021 42,566.38 0.75 14.00 41,637.8542,571.40 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 50.27 190,678.18194,979.36 GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
362554AC1 49,658.13 AAA Aaa 10/13/2021 10/21/2021 49,656.86 0.68 14.07 48,218.9049,657.49 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 3.97 370.53 207,059.77209,996.82 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 4.46 277.51 138,660.42139,980.46 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 4.82 552.29 273,623.98274,968.61 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 4.63 504.16 242,771.53244,999.91 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 4.95 539.00 244,125.64244,972.52 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 5.05 381.56 169,588.21169,986.81 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 4.65 268.67 128,866.95129,989.23 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 5.42 625.16 321,281.54319,942.99 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 4.31 612.98 315,819.84319,985.11 43 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
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. 45 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
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 March 31, 2024
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.
47 © PFM Asset Management LLC pfmam.com

CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2024
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. 48

Lake Elsinore City CouncilJune 25, 2024

Lake Elsinore City Council
June 25, 2024