City of Manhattan Beach
Investment Portfolio
December 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.
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YTM
365
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
December 31, 2021
Portfolio Details - Investments
Issuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
Maturity
S&PCUSIP Investment #
Purchase
Date
LAIF
0.212Local Agency Invest. Fund3000 42,000,000.00 42,000,000.00 0.21207/01/2018 42,000,000.00SYS3000 1 42,000,000.0042,000,000.0042,000,000.00Subtotal and Average 0.212 1 Medium Term Notes
3.060APPLE INCMTN0096 1,000,000.00 993,753.64 09/12/20222.10004/23/2018 1,011,520.00 AA+037833DC1 254
3.298APPLE INCMTN0098 1,000,000.00 989,180.36 05/03/20232.40005/22/2018 1,023,850.00 AA+037833AK6 487
1.951BANK OF NY MELLOMTN0106 1,000,000.00 1,009,011.00 08/16/20232.20009/09/2019 1,021,660.00 A06406FAD5 592
1.850BANK OF NY MELLOMTN0109 1,000,000.00 1,011,205.00 10/24/20242.10002/10/2020 1,025,630.00 A06406RAL1 1,027
1.977Walt DisneyMTN0107 2,000,000.00 1,988,346.58 08/30/20241.75012/12/2019 2,031,680.00 A-254687FK7 972
1.890COCA-COLA COMTN0108 1,000,000.00 993,679.00 09/06/20241.75012/12/2019 1,018,970.00 A+191216CL2 979
2.025MICROSOFT CORPMTN0104 1,000,000.00 999,000.00 08/08/20232.00007/01/2019 1,018,960.00 AAA594918BQ6 584
0.950MERCK & CO INCMTN0110 1,000,000.00 991,420.00 02/24/20260.75010/05/2021 980,260.0058933YAY1 1,515
2.640ORACLE CORPMTN0103 1,000,000.00 995,436.00 10/15/20222.50005/13/2019 1,014,190.00 A68389XAP0 287
3.461TOYOTA MOTOR CREDITMTN0099 1,000,000.00 999,500.00 09/20/20233.45009/21/2018 1,044,970.00 A+89236TFN0 627
2.634TOYOTA MOTOR CREDITMTN0101 1,000,000.00 993,255.61 10/18/20232.25003/26/2019 1,025,240.00 A+89236TDK8 655
3.193United Parcel ServiceMTN0100 1,000,000.00 996,814.13 05/16/20222.35010/04/2018 1,005,860.00 A-911312BC9 135
1.883US BANK NA OHIOMTN0105 1,000,000.00 1,002,988.77 05/23/20222.65009/09/2019 1,007,170.00 AA-90331HPC1 142 13,963,590.0914,229,960.0014,000,000.00Subtotal and Average 2.341 659 Federal Agency Issues - Coupon
1.894FED FARM CR BKFAC0259 1,000,000.00 1,000,544.89 03/15/20222.15005/22/2017 1,003,990.00 AA+3133EHCT8 73
2.708FED FARM CR BKFAC0271 2,000,000.00 1,997,482.80 02/16/20232.57002/16/2018 2,052,380.00 AA+3133EJDE6 411
3.000FED FARM CR BKFAC0276 2,000,000.00 1,990,360.00 06/19/20232.89010/02/2018 2,074,340.00 AA+3133EJSD2 534
2.840FED FARM CR BKFAC0278 2,000,000.00 2,008,173.41 07/24/20233.08012/12/2018 2,084,100.00 AA+3133EJK57 569
2.357Federal Home Loan BankFAC0268 2,000,000.00 2,002,826.99 12/09/20222.50001/10/2018 2,039,600.00 AA+3130A3KM5 342
1.771Federal Home Loan BankFAC0285 2,000,000.00 2,060,181.73 09/13/20242.87512/11/2019 2,101,720.003130A2UW4 986
1.470Federal Home Loan BankFAC0289 1,000,000.00 1,001,306.00 08/15/20241.50002/07/2020 1,016,050.003130AGWK7 957
0.312Federal Home Loan BankFAC0291 1,000,000.00 1,065,148.61 06/14/20242.87502/04/2021 1,048,490.003130A1XJ2 895
1.850Fannie MaeFAC0261 1,000,000.00 1,001,150.00 04/05/20221.87505/22/2017 1,004,040.00 AA+3135G0T45 94
1.700Fannie MaeFAC0286 2,000,000.00 1,993,020.00 10/15/20241.62512/11/2019 2,037,200.003135G0W66 1,018
1.500Fannie MaeFAC0287 2,000,000.00 2,011,260.00 10/15/20241.62502/07/2020 2,037,200.003135G0W66 1,018
1.526Fannie MaeFAC0288 2,000,000.00 2,012,559.72 07/02/20241.75002/07/2020 2,043,820.003135G0V75 913
0.259Fannie MaeFAC0290 1,000,000.00 1,038,144.02 07/02/20241.75002/04/2021 1,021,910.003135G0V75 913
0.499Fannie MaeFAC0292 1,000,000.00 1,046,110.09 09/12/20232.87502/04/2021 1,036,880.003135G0U43 619
2.793Tennessee Valley AuthorityFAC0277 2,000,000.00 1,988,503.41 08/15/20221.87512/12/2018 2,019,900.00 AA+880591EN8 226
2.493Tennessee Valley AuthorityFAC0279 1,000,000.00 995,930.03 08/15/20221.87502/14/2019 1,009,950.00 AA+880591EN8 226 Portfolio CITY
CP
Run Date: 02/02/2022 - 09:38 PM (PRF_PM2) 7.3.11
Report Ver. 7.3.11
YTM
365
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
December 31, 2021
Portfolio Details - Investments
Issuer
Portfolio Management
CITY OF MANHATTAN BEACH
Days to
Maturity
S&PCUSIP Investment #
Purchase
Date
25,212,701.7025,631,570.0025,000,000.00Subtotal and Average 1.956 635 Treasury Securities - Coupon
2.681US TREASURYUST0027 2,000,000.00 1,991,978.62 07/31/20222.00012/12/2018 2,020,540.00912828XQ8 211
2.510US TREASURYUST0028 1,000,000.00 997,223.85 07/31/20222.00002/14/2019 1,010,270.00912828XQ8 211
2.525US TREASURYUST0029 1,000,000.00 981,101.23 07/31/20231.25002/14/2019 1,010,000.00912828S92 576
2.432US TREASURYUST0030 1,000,000.00 982,103.34 08/31/20231.37502/14/2019 1,011,840.009128282D1 607
2.201US TREASURYUST0031 1,000,000.00 996,431.56 09/30/20221.75003/25/2019 1,010,660.00912828L57 272
2.250US TREASURYUST0032 1,000,000.00 991,406.25 10/31/20222.00003/25/2019 1,013,480.009128283C2 303
2.234US TREASURYUST0033 1,000,000.00 995,039.06 02/29/20242.12505/13/2019 1,028,710.00912828W48 789
2.240US TREASURYUST0034 1,000,000.00 994,687.50 03/31/20242.12505/13/2019 1,029,220.00912828W71 820
1.493US TREASURYUST0035 2,000,000.00 2,021,737.96 08/31/20241.87502/07/2020 2,050,860.009128282U3 973
0.561US TREASURYUST0036 1,000,000.00 988,230.30 06/30/20250.25005/28/2021 971,520.00912828ZW3 1,276
0.591US TREASURYUST0039 1,000,000.00 987,897.63 06/30/20250.25008/11/2021 971,520.00912828ZW3 1,276
1.058US TREASURYUST0047 1,000,000.00 972,918.95 05/31/20250.25012/08/2021 972,730.00912828ZT0 1,246
1.001US TREASURYUST0051 1,000,000.00 1,003,906.25 02/28/20251.12512/09/2021 1,003,520.00912828ZC7 1,154
0.576US TREASURYUST0037 2,000,000.00 1,975,234.42 07/31/20250.25005/28/2021 1,940,000.0091282CAB7 1,307
0.620US TREASURYUST0038 1,000,000.00 985,896.24 08/31/20250.25005/28/2021 968,710.0091282CAJ0 1,338
0.601US TREASURYUST0040 1,000,000.00 987,525.70 07/31/20250.25008/11/2021 970,000.0091282CAB7 1,307
0.586US TREASURYUST0041 1,000,000.00 986,579.63 08/31/20250.25008/11/2021 968,710.0091282CAJ0 1,338
0.658US TREASURYUST0042 1,000,000.00 988,621.69 11/30/20250.37508/09/2021 969,810.0091282CAZ4 1,429
0.681US TREASURYUST0043 1,000,000.00 984,106.45 07/31/20250.25010/05/2021 970,000.0091282CAB7 1,307
0.707US TREASURYUST0044 2,000,000.00 1,962,052.37 10/31/20250.25010/05/2021 1,933,040.0091282CAT8 1,399
0.907US TREASURYUST0045 1,000,000.00 992,500.00 08/31/20260.75010/05/2021 977,620.0091282CCW9 1,703
0.892US TREASURYUST0046 1,000,000.00 987,710.84 07/31/20260.62510/05/2021 972,380.0091282CCP4 1,672
1.191US TREASURYUST0048 1,000,000.00 981,139.69 05/31/20260.75012/09/2021 979,450.0091282CCF6 1,611
1.176US TREASURYUST0049 1,000,000.00 985,770.37 06/30/20260.87512/09/2021 984,140.0091282CCJ8 1,641
1.210US TREASURYUST0050 1,000,000.00 984,140.04 09/30/20260.87512/09/2021 982,150.0091282CCZ2 1,733 28,705,939.9428,720,880.0029,000,000.00Subtotal and Average 1.348 1,081 Total and Average 110,000,000.00 1.180 512110,582,410.00 109,882,231.73 Portfolio CITY
CP
Run Date: 02/02/2022 - 09:38 PM (PRF_PM2) 7.3.11
YTM
365
Par Value Book Value
Stated
RateMarket Value
December 31, 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 23,591,002.61 23,591,002.6107/01/2018 23,591,002.61SYS39903-39902 1 Subtotal and Average
Total Cash and Investments 133,591,002.61 1.180 512
1 134,173,412.61 133,473,234.34
Portfolio CITY
CP
Run Date: 02/02/2022 - 09:38 PM (PRF_PM2) 7.3.11
City of Manhattan Beach
Investment Portfolio Summary
As of December 31, 202
1 PORTFOLIO PROFILE Dec 31, 2021 Dec 31, 2021 Oct 31, 2021 Sep 30, 2021 Aug 31, 2021 Total Book Value (Excluding Trust Funds) $109,882,232 $117,940,248 $120,979,068 $126,026,523 $127,025,657 Increase/(Decrease) from Prior Period (8,058,016) (3,038,820) (5,047,456) (999,134) 6,946,680 Percentage Change (6.8%) (2.5%) (4.0%) (0.8%) 5.8%
Average Yield to Maturity (365 Days) 1.180% 1.090% 1.067% 1.006% 1.026% Increase/(Decrease) from Prior Period 0.090% 0.022% 0.061% (0.020%) (0.101%)
PORTFOLIO ALLOCATIONS
By Security Value (Par) Percent Par YTM Time Horizon Percent LAIF* $42,000,000 38.18% 0.212% Next 12 months 53%
Medium Term Notes 14,000,000 12.7% 2.341% Months 13-24 13% Federal Agencies 25,000,000 22.7% 1.956% Months 25-36 17% U.S. Treasuries 29,000,000 26.4% 1.348% Months 37-48 12% Total $110,000,000 100.0% 1.179% Months 49-60 5%
*LAIF YTM as of December 31, 2021 GOOD Total 100.0%
RECENT ACTIVITY
Security Date of Activity Maturity Date Purchase (Par) Maturing/Call YTM T - 0.25% Coupon 12/8/2021 5/31/2025 1,000,000 1.058%
T - 0.75% Coupon 12/9/2021 5/31/2026 1,000,000 1.191%
T - 0.875% Coupon 12/9/2021 6/30/2026 1,000,000 1.176%
T - 0.875% Coupon 12/9/2021 9/30/2026 1,000,000 1.210%
T - 1.125% Coupon 12/9/2021 2/28/2025 1,000,000 1.001%
Total Purchases $5,000,00 0 1.127%
Matured: T - 2.125% Coupon 9/30/2021 9/30/2021 1,000,000 2.478% Called: MTN - 2.3% Coupon 12/2/2021 5/18/2022 1,000,000 2.500% Total Maturing/Calls $2,000,000 2.489%
City of Manhattan Beach
Investment Portfolio Summary
As of December 31, 202
1 FUNDS HELD IN TRUST Value
Police/Fire Refunding Bonds $660,806.32
Fire Station 2 COPs 210,806.62
Marine Avenue Refunding Bonds 401,550.03
Pension Obligation Bonds 2,038.67
Metlox & Water/Wastewater Refunding Bonds 0.06
UUAD Assessment Refunding Bonds 511,588.47
UUAD Assessment District 12 & 14 402,984.95
UUAD Assessment District 4 203,684.59
PARS Investment Trust 1,839,461.56
Total Funds Held in Trust $4,232,921.27
As of December 31, 2021
3‐Month 6 ‐Month 2 ‐Year 5 ‐Year 10 ‐Year
October 2021 0.05% 0.06% 0.39% 1.11% 1.58%
November 2021 0.05% 0.07% 0.51% 1.20% 1.56%
December 2021 0.15% 0.33% 0.98% 1.54% 1.76%
Portfolio 1.180% 1.180% 1.180% 1.180% 1.180%
LAIF 0 212% 0 212% 0 212% 0 212% 0 212%
Portfolio, 1.180%
LAIF, 0.212%
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
January 2022 through December 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 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 2/28/25 1.00% T nc $1.0M 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 5/31/25 1.06% T nc $1.0M May 26 5/31/26 1.19% T nc $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 6/30/26 1.18% T nc $1.0M 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 9/30/26 1.21% T nc $1.0M 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 Dec 22 12/9/22 2.4% FHLB nc $2.0M Dec 23 Dec 24 Dec 25 Dec 26 Total By Year (excl LAIF) $16.0m $14.0m $19.0m $13.0m $6.0m % of Total Securities (excl LAIF) 24% 21% 28% 19% 9%
% of Total Investments (incl LAIF) 53% 13% 17% 12% 5%
Total Securities 62% $68.0M
LAIF 38% $42.0M
Total Investments 100%
$110.0M
Shaded rows indicate months with significant cash inflows.
City of Manhattan Beach
Investment Policy Compliance Chart
As of December 31, 202
1 Instrument % of Total Limit Compliant? Limit Compliant? Limit Compliant? Local Agency Investment Fund (LAIF) $42,000,000 38.2% $75,000,000 Yes Treasury Securities
US Treasury $29,000,000 26.4% 5 Years Yes
Total U.S. Treasuries (25) TRUE $29,000,000 26.4%
Medium Term (Corporate) Notes
Coca-Cola 1,000,000 0.9% 5.0% Yes 5 Years Yes
Total Consumer Goods Sector $1,000,000 0.9% 10.0% Yes
Toyota Motor Credit 2,000,000 1.8% 5.0% Yes 5 Years Yes US Bank 1,000,000 0.9% 5.0% Yes 5 Years Yes
Bank of NY 2,000,000 1.8% 5.0% Yes 5 Years Yes
Total Financial Sector $5,000,000 4.5% 10.0% Yes
United Parcel Service 1,000,000 0.9% 5.0% Yes 5 Years Yes Total Industrials Sector $1,000,000 0.9% 10.0% Yes
Merck 1,000,000 0.9% 5.0% Yes 5 Years Yes
Total Pharmaceuticals Sector $1,000,000 0.9% 10.0% Yes
Apple Inc 2,000,000 1.8% 5.0% Yes 5 Years Yes
Microsoft Corp 1,000,000 0.9% 5.0% Yes 5 Years Yes
Oracle Corp 1,000,000 0.9% 5.0% Yes 5 Years Yes
Total Technology Sector $4,000,000 3.6% 10.0% Yes
Walt Disney Co 2,000,000 1.8% 5.0% Yes 5 Years Yes
Total Communication Services Sector $2,000,000
Total Medium Term Notes (13) TRUE $14,000,000 12.7% 20.0% Yes Federal Agencies
Federal Home Loan Bank (FHLB) $6,000,000 5.5% 33.3% Yes 5 Years Yes Federal Farm Credit (FFCB) 7,000,000 6.4% 33.3% Yes 5 Years Yes Fannie Mae (FNMA) 9,000,000 8.2% 33.3% Yes 5 Years Yes
Freddie Mac (FHLMC) - 0.0% 33.3% Yes 5 Years Yes
Tennessee Valley Authority (TVA) 3,000,000 2.7% 33.3% Yes 5 Years Yes Total Federal Agencies (16) TRUE $25,000,000 22.7% 60.0% Yes Total Portfolio $110,000,000 100.0%
Dollar Compliance Percentage Compliance Term Compliance Temporary Suspension
Investments Book Value
LAIF $42,000,000.00
Treasury Securities 28,705,939.94
Federal Agency Issues-Coupon 25,212,701.70
Medium Term Notes 13,963,590.09
Subtotal Investments $109,882,231.73
Demand Deposit/Petty Cash
Cash in Bank $23,591,002.61
Petty Cash 2,383.70
$23,593,386.31
Subtotal City Cash & Investments $133,475,618.04
Bond Funds Held in Trust
Police Fire Refunding $660,808.65
Fire Station 2 COPs 234,333.83
Marine Ave Park Refunding 401,550.03
Metlox & Water/Wastewater Refunding 0.06
Utility Assessment Districts 1,118,258.01
Pension Obligation Bonds 2,038.67
Subtotal Bonds Held in Trust $2,416,989.25
Investment Trust Funds
PARS Pension Rate Stabilization Trust 1,839,461.56
Treasurer's Balance $137,732,068.85
CITY OF MANHATTAN BEACH
TREASURER'S REPORT
December 31, 2021
Subtotal Demand Deposit
Dec 0.212
Nov 0.203
Oct 0.203
0.00000625812849570
0.997439120
LAIF Earnings Ratio(2):
LAIF Fair Value Factor(1):
PMIA Daily(1): 0.22%
0.23LAIF Apportionment Rate(2):
PMIA Quarter to Date(1): 0.21%
340PMIA Average Life(1):
Treasuries
65.40%
Agencies
18.20%
Certificates of
Deposit/Bank Notes
7.39%
Time
Deposits
2.10%
Commercial
Paper
6.33%
Corporate
Bonds
0.17%
Loans
0.41%
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 01/13/22
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 12/31/21
Chart does not include $6,716,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
12/31/21
$181.4 billion