Department of Financial Management
411 West Ocean Boulevard, 6th Floor
Long Beach, CA 90802
(562) 570-6425
June 20, 2023
HONORABLE MAYOR AND CITY COUNCIL
City of Long Beach
California
RECOMMENDATION:
Receive and file the Investment Report for Quarter Ending March 31, 2023. (Citywide)
DISCUSSION
The City of Long Beach (City) Treasurer's Office in the Financial Management Department invests funds in compliance with the California Government Code, Section 53600 et. seq., and the City's Investment Policy. As of March 31, 2023, invested funds had a book value of $2.168 billion.
Statutory Compliance
All investment transactions have been executed in conformance with the City ’s Investment Policy and the California Government Code. The Investment Advisory Committee, composed of the Assistant City Auditor, Principal Deputy City Attorney, City Treasurer, City Controller, and designated representatives from the Harbor and Water Depar tments, meets quarterly, or as needed, to review investment policies, strategies, and performance. All portfolio transactions as of March 31, 2023, can be found in the Investment Trading Activity (Attachment A).
Investment Strategies
The Investment Policy divides the City's investment portfolio into short -maturity, intermediate- maturity, and long -maturity portfolios. Their respective benchmarks are the Three -Month Treasury Bill Index, the ICE Bank of America Merrill Lynch (BAML) One -to-Three Year US Treasury/Agency, and the ICE Bank of America Merrill Lynch (BAML) One -to-Five Year US Treasury/Agency.
The short-maturity portfolio maintains a weighted average maturity of three to six months and provides sufficient liquidity to satisfy t he City's short-term cash needs. The intermediate - maturity portfolio maintains a weighted average maturity of approximately one to three years and provides for the cash needs with maturities greater than six months. The long -maturity portfolio maintains a weighted average maturity of one to five years to satisfy the City's longer- term cash needs.
The City's cash management goals are to maintain and preserve the safety of funds in custody and provide adequate liquidity for anticipated expenditure needs. Approximately $501.3 million of the total investment pool, or approximately 23.69 percent of the funds, will mature in the next six months, ensuring that sufficient funds are available to meet the City's liquidity needs.
C-9
HONORABLE MAYOR AND CITY COUNCIL
June 20, 2023
Investment Position and Performance
The following table summarizes the City's investment pool position and performance for the quarter ending March 31, 2023:
Portfolio Book
Value 1
Market
Value 1
Unrealized
Gain/(Loss) 2
Last 12 Months
Portfolio
Total Return5
Last 12 Months
Benchmark
Total Return
Short-Maturity $190,179,951 $190,083,361 ($96,589) 2.09% 2.50% Long-Maturity $508,390,802 $486,112,353 ($22,278,449) -0.09% -0.38% Total Investments $2,158,503,287 $2,105,029,129 ($53,474,158) 0.62% 0.27% Total Cash $10,348,353 $10,348,353
Total Cash and
Investments $2,168,851,640 $2,115,377,482
0.19%
QUARTERLY INTEREST EARNINGS 6
As of March 31, 2023
$8,456,472Total Interest
Earnings
0.26%
1.68% 1.82%
1.38% 1.57%
1.55%
Quarterly
Portfolio
Total Return3
Quarterly
Benchmark
Total Return
INVESTMENT VALUE
As of March 31, 2023
INVESTMENT PERFORMANCE 4
As of March 31, 2023
0.94% 1.07%
Intermediate-
Maturity $1,459,932,534 $1,428,833,414 1.29%($31,099,119)
1) Book value is the initial value/outlay for an investment at the time of purchase (as much as five years ago) and still held in the portfolios, while market value represents the value at a point in time based on current market conditions. 2) Unrealized Gain/(Loss) is the difference between book and market value. It is inversely related to the change in interest rates. As interest rates rise or fall, the value of fixed -income assets moves in the opposite direction. Typically, investments are he ld to maturity, and therefore, gains/losses are rarely realized.
3) Total return is a performance measurement metric that reflects the portfolio's overall value for this three -month period, if liquidated, including income and realized and unrealized gains and losses. 4) Investment Performance – Portfolio Total Return numbers are calculated as a weighted average. 5) Last 12 months Portfolio Total Return is a performance measurement metric that reflects a rolling 12-month return, which includes income and both realized and unrealized gains/(losses)
6) Interest Earnings is the amount of interest earned from investments over a 3-month period, net of investment-related expenses.
The quarter ending March 31, 2023, continued to experience rising market interest rates after a prolonged period of stable and historically low levels, which caused the investment value to remain negative on a mark-to-market basis. This resulted in an unrealized loss of approximately $53.5 million from the prior quarter's unrealized loss of approximately $71.1 million , for securities purchased in the last five years and still held. Generally, there will be minimal actual realized loss since most securities are held to maturity. Due to rising market interest rates, the City transferred the majority of funds invested in the State Treasurer’s Local Agency Investment Fund (LAIF) to a significantly higher interest-earning money market fund. As of March 31, 2023, the money market fund outperformed LAIF by approximately 191 basis points (1.91 percent).
For the three months ended March 31, 2023, the quarterly total return was 1.38 percent, which was 19 basis points (0.19 percent) less than the benchmark. Over the preceding 12 months, the investment portfolio generated an annualized total return of 0.62 percent, which was 35 basis points (0.35 percent) less than the benchmark.
Another view of investment performance considers actual interest earnings, ir respective of changes in market value of the portfolio that are unlikely ever to be realized. As shown in the bottom-right portion of the table above, i nterest earnings totaled $ 8.46 million for the quarter ending March 31, 2023. Using average cash balance s for each of the three months of the
HONORABLE MAYOR AND CITY COUNCIL
June 20, 2023
quarter, the actual interest earned yielded an annualized interest earnings rate of 1.57 percent over the full quarter.
Investment portfolio holdings as of March 31, 2023, are included in Attachment B.
This matter was reviewed by Principal Deputy City Attorney Richard F. Anthony and by Revenue Management Officer Geraldine Alejo on May 31, 2023.
TIMING CONSIDERATIONS
City Council action on this item is not time critical.
FISCAL IMPACT
This recommendation has no staffing impact beyond the normal budgeted scope of duties and is consistent with existing City Council priorities. There is no fiscal or local job impact associated with this recommendation.
SUGGESTED ACTION:
Approve recommendation.
Respectfully submitted,
KEVIN RIPER
DIRECTOR OF FINANCIAL MANAGEMENT
ATTACHMENTS: A - CITY OF LONG BEACH INVESTMENT TRADING ACTIVITY
B - CITY OF LONG BEACH INVESTMENT PORTFOLIO HOLDINGS
APPROVED:
THOMAS B. MODICA
CITY MANAGER
ATTACHMENT A
Fund Inv # Cusip Number Issuer Coupon (%) Par Value ($) Purchase Date Maturity Date Redemption Date SECURITY PURCHASES
99 15964 3134GYCN0 FHLMC 5.030 20,930,000.00 1/6/2023 12/29/2025 - - 99 15965 91282CFE6 USTR 3.125 9,000,000.00 1/6/2023 8/15/2025 - - 99 15968 313384JV2 FHLB - - 10,000,000.00 1/12/2023 7/31/2023 - - 99 15970 3134GW6C5 FHLMC 0.800 25,000,000.00 1/20/2023 10/28/2026 - - 99 15971 3133EN7A2 FFCB 3.625 10,000,000.00 1/26/2023 10/26/2026 - - 99 15973 3134GYFV9 FHLMC 4.900 25,000,000.00 1/30/2023 7/27/2026 - - 98 15974 91282CGC9 USTR 3.875 4,750,000.00 1/27/2023 12/31/2027 - - 98 15975 3130ATUC9 FHLB 4.500 5,000,000.00 1/27/2023 12/12/2025 - - 97 15979 313384PP8 FHLB - - 25,000,000.00 2/3/2023 11/22/2023 - - 99 15981 3130AUU93 FHLB 5.100 25,000,000.00 2/8/2023 2/8/2028 - - 98 15982 24422EWR6 JDEERE 4.750 3,000,000.00 2/9/2023 1/20/2028 - - 98 15984 91282CGC9 USTR 3.875 5,250,000.00 2/9/2023 12/31/2027 - - 99 15988 3133EPBM6 FFCB 4.125 25,000,000.00 2/23/2023 8/23/2027 - - 98 15992 91324PEP3 JPM 5.250 3,000,000.00 2/23/2023 2/15/2028 - - 99 15990 3134GYKJ0 FHLMC 5.300 15,000,000.00 2/28/2023 2/28/2028 - - 99 15998 3130AV5W8 FHLB 5.400 25,000,000.00 3/3/2023 6/3/2027 - - 98 16001 57636QAW4 JPM 4.875 3,080,000.00 3/9/2023 3/9/2028 99 16003 3134GYNB4 FHLMC 5.710 25,000,000.00 3/13/2023 3/13/2028 98 16008 3130ATS57 FHLB 4.500 5,000,000.00 3/23/2023 3/10/2028 - - TOTAL SECURITY PURCHASES 269,010,000
SECURITY MATURITIES
99 15712 912828Z29 USTR 1.500 10,000,000.00 5/11/2020 1/15/2023 - - 99 15730 912828Z29 USTR 1.500 7,500,000.00 6/9/2020 1/15/2023 - - 98 15501 3135G0T94 FNMA 2.375 6,000,000.00 3/9/2018 1/19/2023 - - 98 15512 3135G0T94 FNMA 2.375 5,000,000.00 3/20/2018 1/19/2023 - - 97 15917 912796XS3 USTR - - 15,000,000.00 7/21/2022 1/19/2023 - - 97 15878 91282CBG5 USTR 0.125 10,000,000.00 5/3/2022 1/31/2023 - - 97 15892 91282CBG5 USTR 0.125 10,800,000.00 5/26/2022 1/31/2023 - - 99 15699 912828Z86 USTR 1.375 10,000,000.00 2/28/2020 2/15/2023 - - 99 15805 912828Z86 USTR 1.375 15,000,000.00 6/14/2021 2/15/2023 - - 99 15794 91282CBN0 USTR 0.125 25,000,000.00 5/6/2021 2/28/2023 - - 98 15518 3130ADRG9 FHLB 2.750 5,000,000.00 4/18/2018 3/10/2023 - - 99 15806 91282CBU4 USTR 0.125 30,000,000.00 6/14/2021 3/31/2023 - - TOTAL SECURITY MATURITIES 149,300,000
SECURITY SALES AND CALLS
- - - - - - - - - - - - - - - - - - TOTAL SECURITY SALES AND CALLS ‐
CITY OF LONG BEACH INVESTMENT TRADING ACTIVITY
JANUARY 1, 2023 ‐ MARCH 31, 2023
CITY OF LONG BEACH INVESTMENT PORTFOLIO HOLDINGS ATTACHMENT B AS OF March 31, 2023
Inv # Security
Description
CUSIP
Number
S&P
Rating *
Coupon
Rate (%) Par Value ($) Book Value ($) Market Value ($) Trade Date Settlement Date Maturity Date
SHORT MATURITY (97)
8083 CALIF LAIFGF - - - - 111,761 111,761 111,761 - - - - - - 8084 CALIF LAIFHD - - - - 115,555 115,555 115,555 - - - - - - 8086 CALIF LAIFWD - - - - 112,746 112,746 112,746 - - - - - - 15958 FEDER 31607A885 AAA - - 121,135,799 121,135,799 121,135,799 - - - - - - 15943 FHLB 313384PG8 AA+ 4.665 5,000,000 4,852,275 4,856,250 11/21/2022 11/22/2022 11/15/2023 15979 FHLB 313384PP8 AA+ 4.650 25,000,000 24,241,146 24,259,250 2/2/2023 2/3/2023 11/22/2023 15920 USTR 912828ZY9 AA+ 0.125 15,000,000 14,873,030 14,802,600 8/3/2022 8/4/2022 7/15/2023 15921 USTR 912828R69 AA+ 1.625 15,000,000 14,964,844 14,925,600 8/3/2022 8/4/2022 5/31/2023 15940 USTR 912796YJ2 AA+ 4.374 10,000,000 9,772,795 9,763,800 10/19/2022 10/20/2022 10/5/2023 TOTAL SHORT MATURITY 191,475,861 190,179,951 190,083,361 INTERMEDIATE MATURITY (99)
15950 FFCB 3133ENJ84 AA+ 3.375 10,000,000 9,847,671 9,879,500 12/2/2002 12/5/2022 8/26/2024 15971 FFCB 3133EN7A2 AA+ 3.625 10,000,000 9,977,441 9,907,500 1/19/2023 1/26/2023 10/26/2026 15988 FFCB 3133EPBM6 AA+ 4.125 25,000,000 24,949,220 25,314,500 2/16/2023 2/23/2023 8/23/2027 15942 FHLB 3130ATUQ8 AA+ 4.750 30,000,000 30,009,512 29,979,000 11/14/2022 11/15/2022 3/8/2024 15949 FHLB 3130ATVC8 AA+ 4.875 20,000,000 20,132,815 20,141,508 12/1/2022 12/2/2022 6/14/2024 15953 FHLB 3130ATVD6 AA+ 4.875 15,000,000 15,081,654 15,078,750 12/21/2022 12/22/2022 9/13/2024 15981 FHLB 3130AUU93 AA+ 5.100 25,000,000 25,000,000 24,960,750 2/6/2023 2/8/2023 2/8/2028 15998 FHLB 3130AV5W8 AA+ 5.400 25,000,000 25,000,000 25,149,750 2/28/2023 3/3/2023 6/3/2027 15713 FHLMC 3137EAER6 AA+ 0.375 10,000,000 10,000,794 9,963,700 5/8/2020 5/11/2020 5/5/2023 15954 FHLMC 3137EAEU9 AA+ 0.375 15,000,000 13,783,438 13,800,450 12/21/2022 12/22/2022 7/21/2025 15964 FHLMC 3134GYCN0 AA+ 5.030 20,930,000 20,932,129 20,914,686 1/5/2023 1/6/2023 12/29/2025 15970 FHLMC 3134GW6C5 AA+ 0.800 25,000,000 22,425,117 22,371,306 1/19/2023 1/20/2023 10/28/2026 15973 FHLMC 3134GYFV9 AA+ 4.900 25,000,000 25,000,000 24,914,750 1/24/2023 1/30/2023 7/27/2026 15990 FHLMC 3134GYKJ0 AA+ 5.300 15,000,000 15,000,000 15,008,700 2/21/2023 2/28/2023 2/28/2028 16003 FHLMC 3134GYNB4 AA+ 5.710 25,000,000 25,000,000 25,223,000 3/8/2023 3/13/2023 3/13/2028 15951 FNMA 3135G04Z3 AA+ 0.500 14,693,000 13,547,958 13,577,948 12/5/2022 12/6/2022 6/17/2025 15925 FHLB 313384LA5 AA+ 3.440 30,000,000 29,570,000 29,425,200 8/31/2022 9/1/2022 8/29/2023 15928 FHLB 313384LB3 AA+ 3.505 10,000,000 9,852,985 9,807,100 9/7/2022 9/8/2022 8/30/2023 15929 FHLB 313384LB3 AA+ 3.505 10,000,000 9,852,985 9,807,100 9/7/2022 9/8/2022 8/30/2023 15930 FHLB 313384LB3 AA+ 3.505 10,000,000 9,852,985 9,807,100 9/7/2022 9/8/2022 8/30/2023 15934 FHLB 313384LQ0 AA+ 3.880 17,500,000 17,190,678 17,132,500 9/14/2022 9/15/2022 9/12/2023 15935 FHLB 313384LL1 AA+ 3.854 17,500,000 17,198,353 17,141,600 9/14/2022 9/15/2022 9/9/2023 15946 FHLB 313384GF0 AA+ 4.570 20,000,000 19,850,206 19,856,200 11/30/2022 12/1/2022 5/30/2023 15947 FHLB 313384GF0 AA+ 4.570 20,000,000 19,850,206 19,856,200 11/30/2022 12/1/2022 5/30/2023 15948 FHLB 313384PJ2 AA+ 4.625 30,000,000 29,113,542 29,130,000 12/1/2022 12/2/2022 11/17/2023 15968 FHLB 313384JV2 AA+ 4.660 10,000,000 9,843,372 9,845,600 1/11/2023 1/12/2023 7/31/2023 15758 USTR 91282CBE0 AA+ 0.125 15,000,000 14,993,108 14,470,350 1/28/2021 1/29/2021 1/15/2024 15759 USTR 912828YE4 AA+ 1.250 15,000,000 15,211,302 14,363,100 1/28/2021 1/29/2021 8/31/2024 15760 USTR 912828ZF0 AA+ 0.500 15,000,000 15,052,834 13,990,500 1/28/2021 1/29/2021 3/31/2025 15761 USTR 91282CAB7 AA+ 0.250 15,000,000 14,960,828 13,774,800 1/28/2021 1/29/2021 7/31/2025 15765 USTR 91282CBA8 AA+ 0.125 10,000,000 9,997,082 9,686,300 2/11/2021 2/12/2021 12/15/2023 15766 USTR 912828XT2 AA+ 2.000 12,500,000 12,759,146 12,149,375 2/11/2021 2/12/2021 5/31/2024 15767 USTR 912828ZT0 AA+ 0.250 12,500,000 12,471,937 11,534,125 2/11/2021 2/12/2021 5/31/2025 15770 USTR 912828S35 AA+ 1.375 10,000,000 10,028,889 9,920,600 3/4/2021 3/5/2021 6/30/2023 15771 USTR 91282CAP6 AA+ 0.125 12,000,000 11,992,414 11,707,920 3/4/2021 3/5/2021 10/15/2023 15772 USTR 91282CBM2 AA+ 0.125 12,000,000 11,981,616 11,532,240 3/4/2021 3/5/2021 2/15/2024 15773 USTR 91282CAZ4 AA+ 0.375 12,000,000 11,890,014 10,946,280 3/4/2021 3/5/2021 11/30/2025 15777 USTR 91282CBR1 AA+ 0.250 15,000,000 14,990,542 14,391,150 3/29/2021 3/30/2021 3/15/2024 15778 USTR 91282CAM3 AA+ 0.250 15,000,000 14,810,406 13,726,800 3/29/2021 3/30/2021 9/30/2025 15782 USTR 91282CBV2 AA+ 0.375 10,000,000 10,003,570 9,571,500 4/29/2021 4/30/2021 4/15/2024 15783 USTR 912828YM6 AA+ 1.500 10,000,000 10,160,794 9,579,700 4/29/2021 4/30/2021 10/31/2024 15784 USTR 912828ZT0 AA+ 0.250 5,000,000 4,957,649 4,613,650 4/29/2021 4/30/2021 5/31/2025 15785 USTR 91282CAZ4 AA+ 0.375 5,000,000 4,947,529 4,560,950 4/29/2021 4/30/2021 11/30/2025 15795 USTR 91282CBX8 AA+ 0.125 30,000,000 29,999,249 29,896,500 5/5/2021 5/6/2021 4/30/2023 15796 USTR 912828ZP8 AA+ 0.125 30,000,000 29,998,744 29,840,400 5/5/2021 5/6/2021 5/15/2023 15797 USTR 9128286R6 AA+ 2.250 25,000,000 25,520,929 24,382,750 5/5/2021 5/6/2021 4/30/2024 15798 USTR 91282CAM3 AA+ 0.250 20,000,000 19,795,508 18,302,400 5/5/2021 5/6/2021 9/30/2025 15799 USTR 91282CBH3 AA+ 0.375 20,000,000 19,791,461 18,155,400 5/5/2021 5/6/2021 1/31/2026 15800 USTR 91282CBW0 AA+ 0.750 20,000,000 19,973,440 18,232,800 5/5/2021 5/6/2021 4/30/2026 15807 USTR 91282CAF8 AA+ 0.125 30,000,000 29,995,170 29,486,700 6/11/2021 6/14/2021 8/15/2023 15808 USTR 91282CAK7 AA+ 0.125 20,000,000 19,994,769 19,593,800 6/11/2021 6/14/2021 9/15/2023 15809 USTR 91282CCG4 AA+ 0.250 15,000,000 14,989,155 14,264,100 6/11/2021 6/15/2021 6/15/2024 15844 USTR 91282CDS7 AA+ 1.125 25,000,000 24,970,739 23,692,500 1/13/2022 1/18/2022 1/15/2025 15848 USTR 91282CDV0 AA+ 0.875 25,000,000 24,855,838 24,210,000 2/10/2022 2/11/2022 1/31/2024 15850 USTR 91282CBR1 AA+ 0.250 10,000,000 9,871,934 9,594,100 2/14/2022 2/15/2022 3/15/2024 15851 USTR 912828ZF0 AA+ 0.500 10,000,000 9,744,860 9,327,000 2/14/2022 2/15/2022 3/31/2025 15852 USTR 912828ZW3 AA+ 0.250 15,000,000 14,473,614 13,825,200 2/14/2022 2/15/2022 6/30/2025 15858 USTR 91282CDD0 AA+ 0.375 10,000,000 9,926,709 9,755,500 3/11/2022 3/14/2022 10/31/2023 15859 USTR 91282CDH1 AA+ 0.750 20,000,000 19,639,960 18,907,000 3/11/2022 3/14/2022 11/15/2024 15860 USTR 91282CED9 AA+ 1.750 20,000,000 19,935,363 19,129,600 3/11/2022 3/15/2022 3/15/2025
CITY OF LONG BEACH INVESTMENT PORTFOLIO HOLDINGS ATTACHMENT B AS OF March 31, 2023
Inv # Security
Description
CUSIP
Number
S&P
Rating *
Coupon
Rate (%) Par Value ($) Book Value ($) Market Value ($) Trade Date Settlement Date Maturity Date
15861 USTR 91282CCF6 AA+ 0.750 10,000,000 9,627,072 9,096,100 3/11/2022 3/14/2022 5/31/2026 15865 USTR 912828W48 AA+ 2.125 25,000,000 24,958,530 24,425,750 3/30/2022 3/31/2022 2/29/2024 15866 USTR 91282CDZ1 AA+ 1.500 25,000,000 24,552,961 23,816,500 3/30/2022 3/31/2022 2/15/2025 15867 USTR 912828ZW3 AA+ 0.250 10,000,000 9,510,975 9,216,800 3/30/2022 3/31/2022 6/30/2025 15868 USTR 91282CDZ1 AA+ 1.500 5,000,000 4,888,710 4,763,300 4/6/2022 4/7/2022 2/15/2025 15869 USTR 91282CAZ4 AA+ 0.375 5,000,000 4,698,023 4,560,950 4/6/2022 4/7/2022 11/30/2025 15879 USTR 912828XT2 AA+ 2.000 12,500,000 12,396,955 12,149,375 5/2/2022 5/3/2022 5/31/2024 15880 USTR 91282CED9 AA+ 1.750 10,000,000 9,782,096 9,564,800 5/2/2022 5/3/2022 3/15/2025 15881 USTR 9128284M9 AA+ 2.875 15,000,000 14,982,073 14,649,000 5/2/2022 5/3/2022 4/30/2025 15882 USTR 91282CAB7 AA+ 0.250 7,500,000 7,049,018 6,887,400 5/2/2022 5/3/2022 7/31/2025 15893 USTR 912828ZP8 AA+ 0.125 17,600,000 17,560,692 17,506,368 5/25/2022 5/26/2022 5/15/2023 15894 USTR 91282CCK5 AA+ 0.125 17,600,000 17,517,088 17,408,160 5/25/2022 5/26/2022 6/30/2023 15895 USTR 91282CDM0 AA+ 0.500 17,600,000 17,396,922 17,116,704 5/26/2022 5/27/2022 11/30/2023 15896 USTR 91282CCC3 AA+ 0.250 17,600,000 17,178,168 16,783,184 5/26/2022 5/27/2022 5/15/2024 15897 USTR 91282CCL3 AA+ 0.375 17,600,000 17,121,175 16,717,184 5/31/2022 6/1/2022 7/15/2024 15898 USTR 912828G38 AA+ 2.250 17,600,000 17,487,674 17,047,888 5/31/2022 6/1/2022 11/15/2024 15899 USTR 91282CEQ0 AA+ 2.750 17,600,000 17,610,864 17,138,000 5/31/2022 6/1/2022 5/15/2025 15900 USTR 912828ZW3 AA+ 0.250 17,600,000 16,659,773 16,221,568 5/31/2022 6/1/2022 6/30/2025 15901 USTR 912828M56 AA+ 2.250 17,600,000 17,401,491 16,887,024 5/31/2022 5/31/2022 11/15/2024 15906 USTR 912828T91 AA+ 1.625 12,000,000 11,937,622 11,788,080 6/8/2022 6/9/2022 10/31/2023 15907 USTR 91282CDH1 AA+ 0.750 12,000,000 11,602,992 11,344,200 6/8/2022 6/9/2022 11/15/2024 15908 USTR 912828ZW3 AA+ 0.250 15,000,000 14,131,345 13,825,200 6/8/2022 6/9/2022 6/30/2025 15923 USTR 91282CFA4 AA+ 3.000 20,000,000 19,946,788 19,636,000 8/15/2022 8/16/2022 7/31/2024 15924 USTR 91282CEX5 AA+ 3.000 10,000,000 9,976,042 9,820,700 8/15/2022 8/16/2022 6/30/2024 15926 USTR 91282CDV0 AA+ 0.875 15,000,000 14,684,750 14,526,000 8/31/2022 9/1/2022 1/31/2024 15927 USTR 91282CDV0 AA+ 0.875 15,000,000 14,684,750 14,526,000 8/31/2022 9/1/2022 1/31/2024 15944 USTR 912828B66 AA+ 2.750 15,000,000 14,742,083 14,748,600 11/21/2022 11/22/2022 2/15/2024 15945 USTR 91282CEG2 AA+ 2.250 20,000,000 19,516,098 19,538,200 11/21/2022 11/22/2022 3/31/2024 15959 USTR 91282CFP1 AA+ 4.250 10,000,000 10,089,594 10,163,701 12/27/2022 12/28/2022 10/15/2025 15960 USTR 91282CCP4 AA+ 0.625 10,000,000 8,925,379 9,020,300 12/27/2022 12/28/2022 7/31/2026 15965 USTR 91282CFE6 AA+ 3.125 9,000,000 8,764,673 8,830,890 1/5/2023 1/6/2023 8/15/2025 TOTAL INTERMEDIATE MATURITY 1,478,023,000 1,459,932,534 1,428,833,414 LONG MATURITY (98)
15430 FEDER VP6000104 AA+ - - 1,002,804 1,002,804 1,002,804 - - - - - - 15642 FFCB 3133EKWV4 AA+ 1.850 7,000,000 7,036,035 6,739,810 8/28/2019 8/29/2019 7/26/2024 15530 FHLB 313383QR5 AA+ 3.250 4,000,000 4,002,470 3,989,240 6/7/2018 6/11/2018 6/9/2023 15548 FHLB 313383YJ4 AA+ 3.375 5,950,000 5,955,003 5,912,753 10/22/2018 10/23/2018 9/8/2023 15577 FHLB 3130A0F70 AA+ 3.375 10,000,000 10,038,929 9,901,100 1/22/2019 1/23/2019 12/8/2023 15612 FHLB 3130A1XJ2 AA+ 2.875 5,400,000 5,456,722 5,297,994 6/18/2019 6/20/2019 6/14/2024 15616 FHLB 3130A1XJ2 AA+ 2.875 5,000,000 5,053,942 4,905,550 7/11/2019 7/12/2019 6/14/2024 15651 FHLB 3130A2UW4 AA+ 2.875 6,600,000 6,708,465 6,472,686 9/25/2019 9/26/2019 9/13/2024 15659 FHLB 3130A2UW4 AA+ 2.875 3,400,000 3,455,723 3,334,414 10/21/2019 10/22/2019 9/13/2024 15975 FHLB 3130ATUC9 AA+ 4.500 5,000,000 5,114,466 5,089,950 1/26/2023 1/27/2023 12/12/2025 16008 FHLB 3130ATS57 AA+ 4.500 5,000,000 5,107,229 5,169,525 3/22/2023 3/23/2023 3/10/2028 15534 FHLMC 3137EAEN5 AA+ 2.750 8,000,000 7,998,323 7,964,480 7/17/2018 7/18/2018 6/19/2023 15693 FHLMC 3137EAEP0 AA+ 1.500 10,220,000 10,217,063 9,728,418 2/13/2020 2/14/2020 2/12/2025 15714 FHLMC 3137EAER6 AA+ 0.375 7,470,000 7,469,901 7,442,884 5/5/2020 5/7/2020 5/5/2023 15739 FHLMC 3137EAEU9 AA+ 0.375 6,170,000 6,155,816 5,676,585 7/21/2020 7/23/2020 7/21/2025 15744 FHLMC 3137EAEX3 AA+ 0.375 9,780,000 9,765,396 8,935,106 9/23/2020 9/25/2020 9/23/2025 15750 FHLMC 3137EAEX3 AA+ 0.375 6,000,000 5,985,536 5,481,660 10/27/2020 10/28/2020 9/23/2025 15539 FNMA 3135G0U43 AA+ 2.875 7,200,000 7,197,576 7,134,984 9/13/2018 9/14/2018 9/12/2023 15585 FNMA 3135G0V34 AA+ 2.500 11,200,000 11,189,765 10,986,976 2/21/2019 2/22/2019 2/5/2024 15682 FNMA 3135G0X24 AA+ 1.625 11,300,000 11,286,439 10,802,009 1/17/2020 1/21/2020 1/7/2025 15708 FNMA 3135G03U5 AA+ 0.625 5,570,000 5,565,271 5,178,763 4/22/2020 4/24/2020 4/22/2025 15724 FNMA 3135G03U5 AA+ 0.625 5,000,000 5,008,055 4,648,800 6/4/2020 6/5/2020 4/22/2025 15734 FNMA 3135G04Z3 AA+ 0.500 10,120,000 10,110,726 9,351,993 6/17/2020 6/19/2020 6/17/2025 15740 FNMA 3135G05X7 AA+ 0.375 9,745,000 9,723,084 8,921,937 8/25/2020 8/27/2020 8/25/2025 15754 FNMA 3135G06G3 AA+ 0.500 10,530,000 10,510,343 9,634,002 11/9/2020 11/12/2020 11/7/2025 15992 JPM 91324PEP3 A+ 5.250 3,000,000 3,044,374 3,122,990 2/21/2023 2/23/2023 2/15/2028 15560 USTR 9128285K2 AA+ 2.875 3,350,000 3,350,279 3,315,730 11/29/2018 11/30/2018 10/31/2023 15591 USTR 912828W48 AA+ 2.125 11,300,000 11,280,173 11,040,439 4/3/2019 4/4/2019 2/29/2024 15593 USTR 912828W71 AA+ 2.125 11,000,000 10,971,650 10,735,340 4/17/2019 4/18/2019 3/31/2024 15610 USTR 912828WJ5 AA+ 2.500 10,000,000 10,063,529 9,779,700 6/10/2019 6/11/2019 5/15/2024 15615 USTR 912828X70 AA+ 2.000 5,750,000 5,759,054 5,592,105 7/11/2019 7/12/2019 4/30/2024 15660 USTR 912828YH7 AA+ 1.500 7,250,000 7,241,660 6,956,303 10/21/2019 10/22/2019 9/30/2024 15663 USTR 9128282N9 AA+ 2.125 10,500,000 10,549,415 10,191,615 11/12/2019 11/13/2019 7/31/2024 15677 USTR 912828YV6 AA+ 1.500 10,000,000 9,964,198 9,564,100 12/12/2019 12/13/2019 11/30/2024 15702 USTR 912828ZC7 AA+ 1.125 6,000,000 6,069,224 5,673,300 3/24/2020 3/25/2020 2/28/2025 15725 USTR 912828ZT0 AA+ 0.250 5,000,000 4,984,644 4,613,650 6/4/2020 6/5/2020 5/31/2025 15756 USTR 91282CBC4 AA+ 0.375 6,000,000 5,999,613 5,468,880 12/30/2020 12/31/2020 12/31/2025 15763 USTR 91282CBC4 AA+ 0.375 8,000,000 7,991,786 7,291,840 1/28/2021 1/29/2021 12/31/2025 15769 USTR 91282CBH3 AA+ 0.375 10,000,000 9,949,638 9,077,700 2/16/2021 2/18/2021 1/31/2026 15776 USTR 91282CBQ3 AA+ 0.500 11,700,000 11,592,808 10,633,779 3/24/2021 3/25/2021 2/28/2026 15787 USTR 91282CBT7 AA+ 0.750 10,000,000 9,968,342 9,148,800 4/28/2021 4/29/2021 3/31/2026
CITY OF LONG BEACH INVESTMENT PORTFOLIO HOLDINGS ATTACHMENT B AS OF March 31, 2023
Inv # Security
Description
CUSIP
Number
S&P
Rating *
Coupon
Rate (%) Par Value ($) Book Value ($) Market Value ($) Trade Date Settlement Date Maturity Date
15811 USTR 91282CCF6 AA+ 0.750 5,000,000 4,978,271 4,548,050 6/17/2021 6/18/2021 5/31/2026 15819 USTR 91282CCP4 AA+ 0.625 10,000,000 9,936,282 9,020,300 8/12/2021 8/13/2021 7/31/2026
15824 USTR 91282CCW9 AA+ 0.750 5,000,000
4,980,430 4,518,750
9/17/2021 9/20/2021 8/31/2026
15826 USTR 91282CCX7 AA+ 0.375 5,000,000
4,988,059 4,724,050
9/29/2021 9/30/2021 9/15/2024
15840 USTR 91282CDQ1 AA+ 1.250 10,000,000 9,990,329 9,134,400 12/30/2021 12/31/2021 12/31/2026
15870 USTR 912828Z78 AA+ 1.500 5,000,000
4,783,614 4,603,150
4/7/2022 4/8/2022 1/31/2027
15871 USTR 912828ZC7 AA+ 1.125 5,000,000
4,859,343 4,727,750
4/7/2022 4/8/2022 2/28/2025
15902 USTR 91282CEN7 AA+ 2.750 7,500,000
7,433,631 7,228,425
6/3/2022 6/6/2022 4/30/2027
15903 USTR 91282CEQ0 AA+ 2.750 7,500,000
7,480,128 7,303,125
6/3/2022 6/6/2022 5/15/2025
15914 USTR 91282CEN7 AA+ 2.750 2,500,000
2,468,425 2,409,475
6/30/2022 6/30/2022 4/30/2027
15915 USTR 91282CEQ0 AA+ 2.750 2,500,000
2,485,080 2,434,375
6/30/2022 6/30/2022 5/15/2025
15922 USTR 91282CEW7 AA+ 3.250 7,000,000
7,071,990 6,879,110
8/9/2022 8/10/2022 6/30/2027
15932 USTR 91282CEY3 AA+ 3.000 3,000,000
2,961,172 2,935,680
9/9/2022 9/12/2022 7/15/2025
15933 USTR 91282CEW7 AA+ 3.250 3,000,000
2,975,932 2,948,190
9/9/2022 9/12/2022 6/30/2027
15937 USTR 91282CEN7 AA+ 2.750 5,000,000
4,719,756 4,818,950
9/27/2022 9/28/2022 4/30/2027
15938 USTR 91282CEW7 AA+ 3.250 5,000,000
4,807,004 4,913,650
9/27/2022 9/28/2022 6/30/2027
15941 USTR 91282CFP1 AA+ 4.250 7,500,000
7,453,044 7,562,353
10/19/2022 10/20/2022 10/15/2025
15952 USTR 91282CFM8 AA+ 4.125 7,000,000
7,080,887 7,131,810
12/20/2022 12/21/2022 9/30/2027
15974 USTR 91282CGC9 AA+ 3.875 4,750,000
4,816,339 4,813,651
1/26/2023 1/27/2023 12/31/2027
15984 USTR 91282CGC9 AA+ 3.875 5,250,000
5,279,054 5,327,657
2/8/2023 2/9/2023 12/31/2027
15875 AMAZON 023135CF1 AA 3.300 3,235,000
3,229,624 3,130,057
4/11/2022 4/13/2022 4/13/2027
15886 AMAZON 023135CF1 AA 3.300 1,765,000
1,752,512 1,707,743
5/10/2022 5/12/2022 4/13/2027
15904 AMAZON 023135CF1 AA 3.300 2,000,000
1,988,594 1,935,120
6/7/2022 6/9/2022 4/13/2027
15823 APPLE 037833DT4 AA+ 1.125 3,120,000
3,139,172 2,928,276
9/16/2021 9/20/2021 5/11/2025
15803 BOA 06051GJG5 A- 0.981 3,500,000
3,505,462 3,265,815
5/19/2021 5/21/2021 9/25/2025
15872 BOA 06051GJQ3 A- 1.658 2,000,000 1,880,544 1,810,740 4/7/2022 4/11/2022 3/11/2027 15856 BRKHAT 084664CZ2 AA 2.300 5,500,000
5,499,173 5,207,290
3/7/2022 3/15/2022 3/15/2027
15887 CATPLR 14913R2V8 A 3.400 2,225,000
2,223,006 2,179,588
5/10/2022 5/13/2022 5/13/2025
15855 CSCHWB 808513BY0 A 2.450 1,860,000
1,858,424 1,666,021
3/1/2022 3/3/2022 3/3/2027
15862 GUARD 40139LBF9 AA+ 3.246 1,465,000
1,465,000 1,384,733
3/24/2022 3/29/2022 3/29/2027
15842 HONDA 02665WEA5 A- 1.500 3,640,000
3,638,291 3,443,440
1/11/2022 1/13/2022 1/13/2025
15846 HONDA 02665WEA5 A- 1.500 1,360,000
1,350,324 1,286,560
2/7/2022 2/9/2022 1/13/2025
15829 JDEERE 24422EVW6 A 1.300 3,500,000
3,457,155 3,159,695
11/24/2021 11/29/2021 10/13/2026
15982 JDEERE 24422EWR6 A 4.750 3,000,000
3,047,232 3,074,875
2/7/2023 2/9/2023 1/20/2028
15802 JPM 46647PBK1 A- 2.083 3,500,000
3,579,094 3,275,055
5/19/2021 5/21/2021 4/22/2026
15905 JPM 46647PCB0 A- 1.578 3,000,000
2,774,774 2,695,410
6/7/2022 6/9/2022 4/22/2027
16001 JPM 57636QAW4 A+ 4.875 3,080,000
3,077,049 3,174,987
3/6/2023 3/9/2023 3/9/2028
15910 MERCK& 58933YBC8 A+ 1.700 5,000,000
4,536,702 4,542,850
6/14/2022 6/16/2022 6/10/2027
15841 METLFE 59217GER6 AA- 1.875 3,780,000
3,776,744 3,377,732
1/3/2022 1/11/2022 1/11/2027
15853 METLFE 59217GER6 AA- 1.875 1,220,000
1,191,210 1,090,168
2/23/2022 2/25/2022 1/11/2027
15818 MICRSF 594918BJ2 AAA 3.125 3,500,000
3,698,655 3,413,410
7/27/2021 7/29/2021 11/3/2025
15884 NORTHT 665859AW4 A+ 4.000 2,050,000
2,047,271 2,008,283
5/5/2022 5/10/2022 5/10/2027
15911 NORTHT 665859AW4 A+ 4.000 2,950,000
2,921,961 2,889,968
6/15/2022 6/17/2022 5/10/2027
15830 PRICOA 74153WCQ0 AA- 1.150 3,000,000
2,998,266 2,828,940
12/1/2021 12/8/2021 12/6/2024
15873 RBC 78016EZ59 A 3.375 2,420,000
2,419,392 2,348,465
4/7/2022 4/14/2022 4/14/2025
15874 RBC 78016EZ59 A 3.375 1,080,000
1,077,742 1,048,075
4/8/2022 4/14/2022 4/14/2025
15813 SFORCE 79466LAG9 A+ 0.625 945,000
944,794
897,552
6/29/2021 7/12/2021 7/15/2024
15845 STSTRT 857477BR3 A 1.746 1,570,000
1,570,000 1,474,010
2/2/2022 2/7/2022 2/6/2026
15854 STSTRT 857477BM4 A 2.901 3,250,000
3,288,443 3,104,823
2/23/2022 2/25/2022 3/30/2026
15827 TORBNK 89114TZG0 A 1.250 5,000,000
4,932,944 4,421,700
11/1/2021 11/3/2021 9/10/2026
15931 TORBNK 89115A2H4 A 4.693 1,830,000
1,830,000 1,811,737 9/8/2022 9/15/2022 9/15/2027 15812 TOYOTA 89236TJK2 A+ 1.125 5,060,000
5,058,569 4,562,906
6/15/2021 6/18/2021 6/18/2026
15822 WMART 931142ER0 AA 1.050 1,190,000
1,188,443 1,072,737
9/8/2021 9/17/2021 9/17/2026
TOTAL LONG MATURITY * 509,602,804 508,390,802 486,112,353 TOTAL INVESTMENTS 2,179,101,665 2,158,503,287 2,105,029,129 CASH
CASHBO CASHBA CASHBOA 50,000 50,000 50,000 ‐ ‐ ‐ ‐ ‐ ‐ CASHUB CASHUB CASHUBOC 10,298,353 10,298,353 10,298,353 ‐ ‐ ‐ ‐ ‐ ‐
TOTAL CASH 10,348,353 10,348,353 10,348,353 TOTAL CASH AND INVESTMENTS 2,189,450,018 2,168,851,640 2,115,377,482 Note *: Per California Government Code and industry practice, ratings modifiers (+/‐) are not utilized to determine investment eligibility, only the rating category (i.e. AAA / AA / A /BBB ) are used. The 2021 California Debt and Investment Advisory Commission (CDIAC) clarified the interpretation issue based on SB 974 t hat passed in 2016 which amended California Government Code that modifiers (+/‐) were not to be considered when determining investment eligibility in Code Sections 53601(h)(1)(C)Commercial Paper , 53601(k) Medium Term Notes, 53601(o) Mortgage Passthrough Securities, and 53601(q) Supranationals.