City of Manhattan Beach
Investment Portfolio
November 2021
As Finance Director for the City of Manhattan Beach, I hereby certify that these investments are in compliance with the City’s investment policy (unless otherwise noted). Sufficient liquidity has been maintained to meet budget expenditure requirements for the current six month period.
CITY OF MANHATTAN BEACH
Portfolio Management
Portfolio Summary
November 1, 2021 through November 30, 2021
Investments
Par
Value
Market
Value
Book % of
Value PortfolioTerm
Days to
Maturity
YTM
360 Equiv.
YTM
365 Equiv.
LAIF
Medium Term Notes
Federal Agency Issues - Coupon
Treasury Securities - Coupon
Investments
54,000,000.00
15,000,000.00
25,000,000.00
24,000,000.00
118,000,000.00
54,000,000.00
15,249,070.00
25,695,790.00
23,875,190.00
118,820,050.00
54,000,000.00
14,944,809.24
25,252,628.60
23,742,810.10
45.79 12.67
21.41 20.13
1 1,532
1,608
1,526
1 655
666
1,030
0.200
2.319
1.926
1.375
0.203
2.351
1.953
1.394
117,940,247.94 100.00%8464341.0751.090
Cash
Passbook/Checking
(not included in yield calculations)
Total Cash and Investments
8,946,830.39
126,946,830.39
8,946,830.39
127,766,880.39
8,946,830.39110.0000.000
126,887,078.338464341.0751.090
Total EarningsNovember 30 Month EndingFiscal Year To Date Current Year
:A^
103,371.40
ST&(/& S. CHARELIAN, FIANCE DIRECTOR
542,053.20
Reporting period 11/01/2021-11/30/2021
Run Date: 12/17/2021 -16:27
Portfolio CIT»'
CP
PM (PRF_PM1) 7.3.11
Report Ver. 7.3.11
YTM
365
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
November 30, 2021
Portfolio Details - Investments
Issuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
Maturity
S&PCUSIP Investment #
Purchase
Date
LAIF
0.203Local Agency Invest. Fund3000 54,000,000.00 54,000,000.00 0.20307/01/2018 54,000,000.00SYS3000 1 54,000,000.0054,000,000.0054,000,000.00Subtotal and Average 0.203 1 Medium Term Notes
3.060APPLE INCMTN0096 1,000,000.00 989,291.94 09/12/20222.10004/23/2018 1,011,580.00 AA+037833DC1 285
3.298APPLE INCMTN0098 1,000,000.00 985,148.20 05/03/20232.40005/22/2018 1,024,050.00 AA+037833AK6 518
1.951BANK OF NY MELLOMTN0106 1,000,000.00 1,009,011.00 08/16/20232.20009/09/2019 1,023,650.00 A06406FAD5 623
1.850BANK OF NY MELLOMTN0109 1,000,000.00 1,011,205.00 10/24/20242.10002/10/2020 1,028,070.00 A06406RAL1 1,058
2.500COSTCO COMPANIESMTN0102 1,000,000.00 994,226.00 05/18/20222.30005/13/2019 1,008,640.00 A+22160KAK1 168
1.977Walt DisneyMTN0107 2,000,000.00 1,986,161.56 08/30/20241.75012/12/2019 2,030,920.00 A-254687FK7 1,003
1.890COCA-COLA COMTN0108 1,000,000.00 993,679.00 09/06/20241.75012/12/2019 1,019,130.00 A+191216CL2 1,010
2.025MICROSOFT CORPMTN0104 1,000,000.00 999,000.00 08/08/20232.00007/01/2019 1,021,230.00 AAA594918BQ6 615
0.950MERCK & CO INCMTN0110 1,000,000.00 991,420.00 02/24/20260.75010/05/2021 974,060.0058933YAY1 1,546
2.640ORACLE CORPMTN0103 1,000,000.00 995,436.00 10/15/20222.50005/13/2019 1,016,550.00 A68389XAP0 318
3.461TOYOTA MOTOR CREDITMTN0099 1,000,000.00 999,500.00 09/20/20233.45009/21/2018 1,047,500.00 A+89236TFN0 658
2.634TOYOTA MOTOR CREDITMTN0101 1,000,000.00 991,382.16 10/18/20232.25003/26/2019 1,027,380.00 A+89236TDK8 686
3.193United Parcel ServiceMTN0100 1,000,000.00 992,597.54 05/16/20222.35010/04/2018 1,007,620.00 A-911312BC9 166
1.883US BANK NA OHIOMTN0105 1,000,000.00 1,006,750.84 05/23/20222.65009/09/2019 1,008,690.00 AA-90331HPC1 173 14,944,809.2415,249,070.0015,000,000.00Subtotal and Average 2.351 655 Federal Agency Issues - Coupon
1.894FED FARM CR BKFAC0259 1,000,000.00 1,001,852.56 03/15/20222.15005/22/2017 1,006,070.00 AA+3133EHCT8 104
2.708FED FARM CR BKFAC0271 2,000,000.00 1,996,366.80 02/16/20232.57002/16/2018 2,054,880.00 AA+3133EJDE6 442
3.000FED FARM CR BKFAC0276 2,000,000.00 1,990,360.00 06/19/20232.89010/02/2018 2,074,300.00 AA+3133EJSD2 565
2.840FED FARM CR BKFAC0278 2,000,000.00 2,010,781.95 07/24/20233.08012/12/2018 2,084,140.00 AA+3133EJK57 600
2.357Federal Home Loan BankFAC0268 2,000,000.00 2,004,328.04 12/09/20222.50001/10/2018 2,044,460.00 AA+3130A3KM5 373
1.771Federal Home Loan BankFAC0285 2,000,000.00 2,071,315.04 09/13/20242.87512/11/2019 2,113,420.003130A2UW4 1,017
1.470Federal Home Loan BankFAC0289 1,000,000.00 1,001,306.00 08/15/20241.50002/07/2020 1,018,760.003130AGWK7 988
0.312Federal Home Loan BankFAC0291 1,000,000.00 1,078,414.16 06/14/20242.87502/04/2021 1,053,760.003130A1XJ2 926
1.850Fannie MaeFAC0261 1,000,000.00 1,001,150.00 04/05/20221.87505/22/2017 1,006,180.00 AA+3135G0T45 125
1.700Fannie MaeFAC0286 2,000,000.00 1,993,020.00 10/15/20241.62512/11/2019 2,043,440.003135G0W66 1,049
1.500Fannie MaeFAC0287 2,000,000.00 2,011,260.00 10/15/20241.62502/07/2020 2,043,440.003135G0W66 1,049
1.526Fannie MaeFAC0288 2,000,000.00 2,015,066.09 07/02/20241.75002/07/2020 2,050,320.003135G0V75 944
0.259Fannie MaeFAC0290 1,000,000.00 1,045,755.91 07/02/20241.75002/04/2021 1,025,160.003135G0V75 944
0.499Fannie MaeFAC0292 1,000,000.00 1,059,671.88 09/12/20232.87502/04/2021 1,041,700.003135G0U43 650
2.793Tennessee Valley AuthorityFAC0277 2,000,000.00 1,979,306.13 08/15/20221.87512/12/2018 2,023,840.00 AA+880591EN8 257 Portfolio CITY
CP
Run Date: 12/17/2021 - 16:27 PM (PRF_PM2) 7.3.11
Report Ver. 7.3.11
YTM
365
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
November 30, 2021
Portfolio Details - Investments
Issuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
Maturity
S&PCUSIP Investment #
Purchase
Date
Federal Agency Issues - Coupon
2.493Tennessee Valley AuthorityFAC0279 1,000,000.00 992,674.04 08/15/20221.87502/14/2019 1,011,920.00 AA+880591EN8 257 25,252,628.6025,695,790.0025,000,000.00Subtotal and Average 1.953 666 Treasury Securities - Coupon
2.681US TREASURYUST0027 2,000,000.00 1,985,103.14 07/31/20222.00012/12/2018 2,024,680.00912828XQ8 242
2.510US TREASURYUST0028 1,000,000.00 994,844.30 07/31/20222.00002/14/2019 1,012,340.00912828XQ8 242
2.525US TREASURYUST0029 1,000,000.00 975,133.20 07/31/20231.25002/14/2019 1,013,360.00912828S92 607
2.432US TREASURYUST0030 1,000,000.00 976,734.33 08/31/20231.37502/14/2019 1,015,470.009128282D1 638
2.201US TREASURYUST0031 1,000,000.00 994,052.61 09/30/20221.75003/25/2019 1,012,730.00912828L57 303
2.250US TREASURYUST0032 1,000,000.00 991,406.25 10/31/20222.00003/25/2019 1,015,980.009128283C2 334
2.234US TREASURYUST0033 1,000,000.00 995,039.06 02/29/20242.12505/13/2019 1,033,240.00912828W48 820
2.240US TREASURYUST0034 1,000,000.00 994,687.50 03/31/20242.12505/13/2019 1,033,790.00912828W71 851
1.493US TREASURYUST0035 2,000,000.00 2,025,809.58 08/31/20241.87502/07/2020 2,059,300.009128282U3 1,004
0.561US TREASURYUST0036 1,000,000.00 986,548.91 06/30/20250.25005/28/2021 974,300.00912828ZW3 1,307
0.591US TREASURYUST0039 1,000,000.00 986,562.50 06/30/20250.25008/11/2021 974,300.00912828ZW3 1,307
0.576US TREASURYUST0037 2,000,000.00 1,971,781.44 07/31/20250.25005/28/2021 1,946,020.0091282CAB7 1,338
0.620US TREASURYUST0038 1,000,000.00 983,974.46 08/31/20250.25005/28/2021 971,560.0091282CAJ0 1,369
0.601US TREASURYUST0040 1,000,000.00 986,171.88 07/31/20250.25008/11/2021 973,010.0091282CAB7 1,338
0.586US TREASURYUST0041 1,000,000.00 985,156.25 08/31/20250.25008/11/2021 971,560.0091282CAJ0 1,369
0.658US TREASURYUST0042 1,000,000.00 987,500.00 11/30/20250.37508/09/2021 972,930.0091282CAZ4 1,460
0.700US TREASURYUST0043 1,000,000.00 983,046.88 07/31/20250.25010/05/2021 973,010.0091282CAB7 1,338
0.707US TREASURYUST0044 2,000,000.00 1,959,687.50 10/31/20250.25010/05/2021 1,938,980.0091282CAT8 1,430
0.907US TREASURYUST0045 1,000,000.00 992,500.00 08/31/20260.75010/05/2021 981,950.0091282CCW9 1,734
0.892US TREASURYUST0046 1,000,000.00 987,070.31 07/31/20260.62510/05/2021 976,680.0091282CCP4 1,703 23,742,810.1023,875,190.0024,000,000.00Subtotal and Average 1.394 1,030 Total and Average 118,000,000.00 1.090 434118,820,050.00 117,940,247.94 Portfolio CITY
CP
Run Date: 12/17/2021 - 16:27 PM (PRF_PM2) 7.3.11
YTM
365
Par Value Book Value
Stated
RateMarket Value
November 30, 2021
Portfolio Details - Cash
Issuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
Maturity
S&PCUSIP Investment #
Purchase
Date
Money Market Fund
0.000UNION BANK39901 8,946,830.39 8,946,830.3907/01/2018 8,946,830.39SYS39903-39902 1 Subtotal and Average
Total Cash and Investments 126,946,830.39 1.090 434
1 127,766,880.39 126,887,078.33
Portfolio CITY
CP
Run Date: 12/17/2021 - 16:27 PM (PRF_PM2) 7.3.11
City of Manhattan Beach
Investment Portfolio Summary
As of November 30, 202
1 PORTFOLIO PROFILE Nov 30, 2021 Oct 31, 2021 Sep 30, 2021 Aug 31, 2021 Jul 31, 2021 Total Book Value (Excluding Trust Funds) $117,940,248 $120,979,068 $126,026,523 $127,025,657 $120,078,977 Increase/(Decrease) from Prior Period (3,038,820) (5,047,456) (999,134) 6,946,680 (1,999,732) Percentage Change (2.5%) (4.0%) (0.8%) 5.8% (1.6%)
Average Yield to Maturity (365 Days) 1.090% 1.067% 1.006% 1.026% 1.126% Increase/(Decrease) from Prior Period 0.022% 0.061% (0.020%) (0.101%) (0.036%)
PORTFOLIO ALLOCATIONS
By Security Value (Par) Percent Par YTM Time Horizon Percent LAIF* $54,000,000 45.76% 0.203% Next 12 months 58%
Medium Term Notes 15,000,000 12.7% 2.351% Months 13-24 14% Federal Agencies 25,000,000 21.2% 1.953% Months 25-36 16% U.S. Treasuries 24,000,000 20.3% 1.394% Months 37-48 9% Total $118,000,000 100.0% 1.089% Months 49-60 3%
*LAIF YTM as of November 30, 2021 GOOD Total 100.0%
RECENT ACTIVITY
Security Date of Activity Maturity Date Purchase (Par) Maturing/Call YTM T - 0.25% Coupon 10/5/2021 7/31/2025 1,000,000 0.681%
T - 0.25% Coupon 10/5/2021 10/31/2025 2,000,000 0.707%
T - 0.75% Coupon 10/5/2021 8/31/2026 1,000,000 0.907%
T - 0.625% Coupon 10/5/2021 7/31/2026 1,000,000 0.892%
MTN - 0.75% Coupon 10/5/2021 2/24/2026 1,000,000 0.950% Total Purchases $6,000,00 0 0.807%
Matured: FHLMC - 1.125% Coupon 8/12/2021 8/12/2021 1,000,000 2.148% Matured: MTN - 3.75% Coupon 8/15/2021 8/15/2021 2,000,000 2.154% Matured: T - 2% Coupon 8/31/2021 8/31/2021 1,000,000 2.439% Total Maturing/Calls $4,000,000 2.224%
City of Manhattan Beach
Investment Portfolio Summary
As of November 30, 202
1 FUNDS HELD IN TRUST Value
Police/Fire Refunding Bonds $0.06
Fire Station 2 COPs 23,529.54
Marine Avenue Refunding Bonds 0.06
Pension Obligation Bonds 2,038.66
Metlox & Water/Wastewater Refunding Bonds 0.06
UUAD Assessment Refunding Bonds 511,585.89
UUAD Assessment District 12 & 14 402,982.91
UUAD Assessment District 4 203,682.87
PARS Investment Trust 1,819,065.01
Total Funds Held in Trust $2,962,885.06
As of November 30, 2021
3‐Month 6 ‐Month 2 ‐Year 5 ‐Year 10 ‐Year
September 2021 0.04% 0.05% 0.24% 0.86% 1.37%
October 2021 0.05% 0.06% 0.39% 1.11% 1.58%
November 2021 0.05% 0.07% 0.51% 1.20% 1.56%
Portfolio 1.090% 1.090% 1.090% 1.090% 1.090%
LAIF 0 203% 0 203% 0 203% 0 203% 0 203%
Portfolio, 1.090%
LAIF, 0.203%
0.00%
0.50%
1.00%
1.50%
2.00%
US Treasuries Yield Curve
www.treas.gov
Monthly yields are interpolated by the Treasury from the daily yield curve.
CITY OF MANHATTAN BEACH HELD TO MATURITY
Portfolio Maturity Structure Rolling 60 Months
December 2021 through November 2026
Mth Mat. YTM Inv Call Amt Mth Mat. YTM Inv Call Amt Mth Mat. YTM Inv Call Amt Mth Mat. YTM Inv Call Amt Mth Mat. YTM Inv Call Amt Dec 21 Dec 22 12/9/22 2.36% FHLB nc $2.0M Dec 23 Dec 24 Dec 25 Jan 22 Jan 23 Jan 24 Jan 25 Jan 26
Feb 22 Feb 23 2/16/23 2.71% FFCB nc $2.0M Feb 24 2/29/24 2.23% T nc $1.0M Feb 25 Feb 26 2/24/26 0.95% MTN MW: 10 $1.0M Mar 22 3/15/22 1.9% FFCB nc $1.0M Mar 23 Mar 24 3/31/24 2.24% T nc $1.0M Mar 25 Mar 26 Apr 22 4/5/22 1.9% FNMA nc $1.0M Apr 23 Apr 24 Apr 25 Apr 26 May 22 5/16/22 3.2% MTN MW: 10 $1.0M May 23 5/3/23 3.30% MTN MW: 15 $1.0M May 24 May 25 May 26 5/18/22 2.5% MTN MW: 10 $1.0M
5/23/22 1.9% MTN 4/22/22 $1.0M
Jun 22 Jun 23 6/19/23 3.00% FFCB nc $2.0M Jun 24 6/14/24 0.31% FHLB nc $1.0M Jun 25 6/30/25 0.56% T nc $1.0M Jun 26 6/30/25 0.59% T nc $1.0M
Jul 22 7/31/22 2.7% T nc $2.0M Jul 23 7/24/23 2.84% FFCB nc $2.0M Jul 24 7/2/24 1.53% FNMA nc $2.0M Jul 25 7/31/25 0.58% T nc $2.0M Jul 26 7/31/26 0.89% T nc $1.0M 7/31/22 2.5% T nc $1.0M 7/31/23 2.53% T nc $1.0M 7/2/24 0.26% FNMA nc $1.0M 7/31/25 0.60% T nc $1.0M 7/31/25 0.68% T nc $1.0M
Aug 22 8/15/22 2.8% TVA nc $2.0M Aug 23 8/31/23 2.43% T nc $1.0M Aug 24 8/15/24 1.47% FHLB nc $1.0M Aug 25 8/31/25 0.62% T nc $1.0M Aug 26 8/31/26 0.91% T nc $1.0M 8/15/22 2.5% TVA nc $1.0M 8/8/23 2.03% MTN MW:12.5 $1.0M 8/30/24 1.98% MTN 7/30/24 $2.0M 8/31/25 0.59% T nc $1.0M 8/16/23 1.95% MTN 6/16/23 $1.0M 8/31/24 1.49% T nc $2.0M Sep 22 9/12/22 3.1% MTN MW: 7.5 $1.0M Sep 23 9/20/23 3.46% MTN nc $1.0M Sep 24 9/6/24 1.89% MTN 9/6/24 $1.0M Sep 25 Sep 26 9/30/22 2.2% T nc $1.0M 9/12/23 0.50% FNMA nc $1.0M 9/13/24 1.77% FHLB nc $2.0M Oct 22 10/31/22 2.2% T nc $1.0M Oct 23 10/18/23 2.63% MTN nc $1.0M Oct 24 10/15/24 1.70% FNMA nc $2.0M Oct 25 10/31/25 0.71% T nc $2.0M Oct 26 10/15/22 2.6% MTN MW: 12.5 $1.0M 10/15/24 1.50% FNMA nc $2.0M 10/24/24 1.85% MTN 9/6/24 $1.0M
Nov 22 Nov 23 Nov 24 Nov 25 11/30/25 0.66% T nc $1.0M Nov 26 Total By Year (excl LAIF) $15.0m $16.0m $19.0m $11.0m $3.0m % of Total Securities (excl LAIF) 23% 25% 30% 17% 5%
% of Total Investments (incl LAIF) 58% 14% 16% 9% 3%
Total Securities 54% $64.0M
LAIF 46% $54.0M
Total Investments 100%
$118.0M
Shaded rows indicate months with significant cash inflows.
City of Manhattan Beach
Investment Policy Compliance Chart
As of November 30, 202
1 Instrument % of Total Limit Compliant? Limit Compliant? Limit Compliant? Local Agency Investment Fund (LAIF) $54,000,000 45.8% $75,000,000 Yes Treasury Securities
US Treasury $24,000,000 20.3% 5 Years Yes
Total U.S. Treasuries (20) TRUE $24,000,000 20.3%
Medium Term (Corporate) Notes
Costco 1,000,000 0.8% 5.0% Yes 5 Years Yes
Total Consumer Staples Sector $1,000,000 0.8% 10.0% Yes Coca-Cola 1,000,000 0.8% 5.0% Yes 5 Years Yes
Total Consumer Goods Sector $1,000,000 0.8% 10.0% Yes
Toyota Motor Credit 2,000,000 1.7% 5.0% Yes 5 Years Yes US Bank 1,000,000 0.8% 5.0% Yes 5 Years Yes
Bank of NY 2,000,000 1.7% 5.0% Yes 5 Years Yes
Total Financial Sector $5,000,000 4.2% 10.0% Yes
United Parcel Service 1,000,000 0.8% 5.0% Yes 5 Years Yes Total Industrials Sector $1,000,000 0.8% 10.0% Yes
Merck 1,000,000 0.8% 5.0% Yes 5 Years Yes
Total Pharmaceuticals Sector $1,000,000 0.8% 10.0% Yes
Apple Inc 2,000,000 1.7% 5.0% Yes 5 Years Yes
Microsoft Corp 1,000,000 0.8% 5.0% Yes 5 Years Yes
Oracle Corp 1,000,000 0.8% 5.0% Yes 5 Years Yes
Total Technology Sector $4,000,000 3.4% 10.0% Yes
Walt Disney Co 2,000,000 1.7% 5.0% Yes 5 Years Yes
Total Communication Services Sector $2,000,000
Total Medium Term Notes (14) TRUE $15,000,000 12.7% 20.0% Yes Federal Agencies
Federal Home Loan Bank (FHLB) $6,000,000 5.1% 33.3% Yes 5 Years Yes Federal Farm Credit (FFCB) 7,000,000 5.9% 33.3% Yes 5 Years Yes Fannie Mae (FNMA) 9,000,000 7.6% 33.3% Yes 5 Years Yes
Freddie Mac (FHLMC) - 0.0% 33.3% Yes 5 Years Yes
Tennessee Valley Authority (TVA) 3,000,000 2.5% 33.3% Yes 5 Years Yes Total Federal Agencies (16) TRUE $25,000,000 21.2% 60.0% Yes Total Portfolio $118,000,000 100.0%
Dollar Compliance Percentage Compliance Term Compliance Temporary Suspension
Investments Book Value
LAIF $54,000,000.00
Treasury Securities 23,742,810.10
Federal Agency Issues-Coupon 25,252,628.60
Medium Term Notes 14,944,809.24
Subtotal Investments $117,940,247.94
Demand Deposit/Petty Cash
Cash in Bank $8,946,830.39
Petty Cash 2,383.70
$8,949,214.09
Subtotal City Cash & Investments $126,889,462.03
Bond Funds Held in Trust
Police Fire Refunding $0.06
Fire Station 2 COPs 23,529.54
Marine Ave Park Refunding 0.06
Metlox & Water/Wastewater Refunding 0.06
Utility Assessment Districts 1,118,251.67
Pension Obligation Bonds 2,038.66
Subtotal Bonds Held in Trust $1,143,820.05
Investment Trust Funds
PARS Pension Rate Stabilization Trust 1,819,065.01
Treasurer's Balance $129,852,347.09
CITY OF MANHATTAN BEACH
TREASURER'S REPORT
November 30, 2021
Subtotal Demand Deposit
Nov 0.203
Oct 0.203
Sep 0.206
0.00000661958813242
0.999873661
LAIF Earnings Ratio(2):
LAIF Fair Value Factor(1):
PMIA Daily(1): 0.20%
0.24LAIF Apportionment Rate(2):
PMIA Quarter to Date(1): 0.22%
321PMIA Average Life(1):
Treasuries
68.70%
Agencies
15.60%
Certificates of
Deposit/Bank Notes
6.95%
Time
Deposits
2.25%
Commercial
Paper
5.92%
Corporate
Bonds
0.14%
Loans
0.44%
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).
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 12/09/21
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 09/30/21
Chart does not include $7,685,000.00 in mortgages, which equates to 0.004396%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
10/31/21
$174.8 billion