Final Report-2025-03 Investment Report.pdf — Moreno Valley City Council, May 20, 2025

10,344,069 10,344,069 10,344,069 State of California LAIF Pool 59,498,844 59,548,797 59,498,844 0.68 4.313% California CLASS 127,949,541 127,954,131 127,949,541 4.396% Investments 244,517,364 245,227,442 247,193,919 2.62 3.720% 2.54 442,309,818 443,074,439 444,986,373 Total Funds with Fiscal Agents 229,298
Total Investment Portfolio 443,303,737

1. I hereby certify that the investments are in compliance with the investment policy adopted by the City Council. There are n o items of non-compliance for this period.

3. The market value for LAIF is provided by the State Treasurer's Office.

4. The market values for investments held by fiscal agents are provided by each respective trustee or fiscal agent.

5. The value of LAIF incorporates accrued interest receivable provided by the City's investment advisors.

6. The City has the ability to meet its budgeted expenditures for the next six months pending any future action by City Counci l or any unforeseen catastrophic event.

/S/ Dena Heald
Chief Financial Officer/City Treasurer

2. The market values for the investments in the General Portfolio are provided by the City's investment advisors.

Par Value
Average Maturity
(in years)
Average Yield
to Maturity
Average
Duration
(in years)Cost Value Market ValueGeneral Portfolio

CITY OF MORENO VALLEY
Treasurer's Cash and Investments Report
March 2025
Bank Accounts

Page 1 of 38 ends

CITY OF MORENO VALLEY
Treasurer's Cash and Investments Report
Asset Balance (par) Avg YTM (2) Balance Yield Balance Yield Asset Balance (par) Investment
Portfolio (4)
Benchmark 1-5
Gov(5)
Apr 22 324,515,844 1.06% 107,738,556 0.523% 206,412,804 1.36% -4.72% -4.76% May 22 346,565,395 1.12% 115,338,556 0.684% 216,762,042 1.40% -4.39% -4.33% Jun 22 383,476,803 1.19% 162,579,173 0.861% 217,107,439 1.40% -4.79% -4.74% Jul 22 369,199,807 1.28% 141,304,379 1.090% 217,349,391 1.44% -4.38% -4.36% Aug 22 370,452,358 1.41% 146,304,379 1.276% 217,602,629 1.48% -5.38% -5.50% Sep 22 372,470,167 1.54% 151,304,379 1.513% 217,877,998 1.51% -6.67% -6.91% Oct 22 380,053,901 1.69% 149,798,931 1.772% 218,428,420 1.59% -6.48% -6.66% Nov 22 376,300,861 1.80% 145,798,931 2.007% 218,675,380 1.60% -5.30% -5.59% Dec 22 373,294,517 1.93% 150,798,931 2.173% 219,057,237 1.62% -4.99% -5.30% Jan 23 384,155,072 2.10% 148,573,248 2.425% 229,475,983 1.67% -3.15% -3.36% Feb 23 396,819,683 2.18% 153,573,248 2.624% 229,652,364 1.75% -3.61% -4.07% Mar 23 385,367,736 2.41% 139,573,248 2.831% 240,071,115 1.81% -0.25% -0.40% Apr 23 392,130,838 2.50% 133,568,086 2.870% 250,640,411 1.89% 1.11% 0.96% May 23 393,035,454 2.59% 117,568,086 2.993% 260,980,803 1.97% 0.10% -0.20% Jun 23 401,600,214 2.89% 124,116,027 3.167% 272,037,037 2.07% 0.25% -0.24% Jul 23 392,167,170 2.92% 107,575,030 3.296% 272,444,923 2.14% -0.17% -0.65% Aug 23 367,750,075 2.97% 84,575,030 3.434% 273,304,577 2.21% 1.22% 0.86% Sep 23 371,172,113 3.16% 93,575,029 3.534% 273,977,067 2.35% 2.56% 2.30% Oct 23 382,761,429 3.22% 99,466,248 3.670% 274,376,978 2.41% 2.89% 2.60% Nov 23 375,964,757 3.31% 97,466,247 3.843% 274,739,732 3.15% 3.31% 2.99% Dec 23 379,752,092 3.34% 97,466,248 3.929% 275,892,133 3.22% 4.70% 4.48% Jan 24 403,275,278 3.28% 102,929,639 4.012% 276,491,973 3.30% 4.11% 3.73% Feb 24 410,683,320 2.68% 57,128,309 5.440% 73,426,639 4.122% 255,895,778 3.18% 4.52% 4.25% Mar 24 406,671,661 2.48% 97,009,278 5.421% 46,944,639 4.232% 256,449,339 3.18% 3.32% 2.68% Apr 24 413,609,042 2.75% 112,466,448 5.403% 51,606,298 4.272% 240,926,798 3.16% 2.18% 1.48% May 24 423,061,594 3.93% 116,998,580 5.394% 54,171,701 4.332% 241,222,841 3.28% 3.52% 2.92% Jun 24 444,453,315 4.14% 143,599,410 5.401% 54,370,062 4.480% 242,404,341 3.36% 4.72% 4.34% Jul 24 433,779,644 4.02% 128,217,474 5.421% 46,591,572 4.516% 243,076,785 3.45% 5.94% 5.53% Aug 24 420,957,381 4.17% 121,778,896 5.408% 51,775,182 4.579% 243,407,598 3.52% 6.72% 6.32% Sep 24 418,778,861 4.23% 123,809,968 5.260% 46,707,596 4.575% 243,803,060 3.52% 8.03% 7.66% Oct 24 411,884,911 4.10% 113,310,716 5.004% 52,916,393 4.518% 244,222,753 3.62% 6.84% 6.44% Nov 24 412,552,657 4.00% 113,759,060 4.827% 49,100,233 4.477% 244,697,572 3.61% 5.65% 5.22% Dec 24 418,699,576 3.83% 104,183,400 4.639% 58,785,636 4.434% 245,458,034 3.50% 3.94% 3.58% Jan 25 428,481,534 3.86% 111,059,998 4.425% 64,046,210 4.366% 246,236,657 3.60% 4.10% 3.72% Feb 25 447,541,157 3.92% 131,471,766 4.143% 64,265,556 4.333% 246,786,521 3.63% 5.76% 5.46% Mar 25 444,986,373 3.90% 127,949,541 4.396% 59,498,844 4.313% 247,193,919 3.72% 5.74% 5.59% Notes:

PORTFOLIO PERFORMANCE - 36 MONTH TREND
Period
Total General Portfolio (1) Local Agency Investment Fund (LAIF) Chandler Asset Management (CAM) Rate of Return (3)
Weighted Avg
YTM (2)
California CLASS
(1) Total General Portfolio includes all assets that comprise the City's Investment Portfolio which is LAIF, California CLASS, as well as assets managed by Chandler Asset Management. (2) Yield to Maturity (YTM): The rate of return on an investment or security if it were to be held until maturity. This yield does not reflect changes in the market value of a security. (4) The Rate of Return for the investment portfolio reflects the performance of the portfolio during the past twelve months. (5) The portfolio benchmark is the ICE Bank of America-Merrill Lynch 1 to 5 year Government Index. (3) Rate of Return represents the gain or loss on an investment or portfolio of investments over a specified period, expressed as a percentage of increase over the initial investment cost. Gains on investments are considered to be any income received from the security or portfolio plus any realized capital gain. This measure of return recognizes the changes in market values of a security or portfolio of securities.

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CITY OF MORENO VALLEY
Treasurer's Cash and Investments Report
10/1/2023
########
260817451 273977067
0 /S/ Launa Jimenez
45230 2014136

PORTFOLIO CHARACTERISTICS
The portfolio invested in LAIF and California CLASS represents the City's immediate cash liquidity needs and is managed by City staff in a manner to fund the day to day operations of the City.

The portfolio managed by Chandler is comprised of idle cash balances related to funds that generally expect to expend cash with the next 12 to 60 months. 10 30
50 70
90 110
130
150
170
190
210
230
250
270
290
310
330
350
370
390
410
430
450
Millions
Portfolio Balances Trend ($)
LAIF
Chandler
CA Class
$
-8.0%
-6.0%
-4.0%
-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%
Benchmark Comparison
Ice BAML Government 1-5 Index City Portfolio

0.00%

0.25%

0.50%

0.75%

1.00%

1.25%

1.50%

1.75%

2.00%

2.25%

2.50%

2.75%

3.00%

3.25%

3.50%

3.75%

4.00%

4.25%

4.50%

4.75%

5.00%

5.25%

5.50%

5.75%
Avg Yield to Maturity Trend
LAIF Chandler CA Class
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Portfolio Balances Trend (%)
LAIF
Chandler
CA Class

Page 3 of 38 ends

CITY OF MORENO VALLEY
Treasurer's Cash and Investments Report
Trustee Bond Description
Investment
Type Issuer Value Date Maturity Date Market Value
Stated
Rate Yield Price
% of of
Portfolio
Wells Fargo 2017 Refunding of the 2007 RDA TABs Money Market WF Government Fund 3/31/2025 4/1/2025 $ 5,472 0.02% 0.02% 1.00 2.39% Wells Fargo 2019 Taxable Lease Revenue Bonds (Electric Utility) Money Market WF Government Fund 3/31/2025 4/1/2025 $ 199,30 2 0.02% 0.02% 1.00 86.92% Wilmington Trust 2020 Taxable Refunding of the 2013 TRIP COPs Money Market Federated Hermes Gov Fund 3/31/2025 4/1/2025 $ 10,955 0.03% 0.03% 1.00 4.78% Wilmington Trust 2024 Taxable Lease Revenue Refunding Bond Series Money Market Federated Hermes Gov Fund 3/31/2025 4/1/2025 $ 12,998 0.03% 0.03% 1.00 5.67% Wells Fargo 2021 Taxable Refunding Lease Revenue Bonds (Electric Utility) Money Market WF Government Fund 3/31/2025 4/1/2025 $ 571 0.02% 0.02% 1.00 0.25% Total 229,298$ 100.00%
Trustee Bond Description Construction fund Debt Service Reserve &
Other Total
Wells Fargo 2017 Refunding of the 2007 RDA TABs $0 $5,472 $0 $5,472 Wells Fargo 2019 Taxable Lease Revenue Bonds (Electric Utility) $0 $199,302 $0 $199,302 Wilmington Trust 2020 Taxable Refunding of the 2013 TRIP COPs $0 $10,955 $0 $10,955 Wilmington Trust 2024 Taxable Lease Revenue Refunding Bond Series $0 $12,998 $0 $12,998 Wells Fargo 2021 Taxable Refunding Lease Revenue Bonds (Electric Utility) $0 $571 $0 $571 Total $0 $229,298 $0 $229,298

FUNDS WITH FISCAL AGENTS
By Investment Type
By Fund Purpose

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CITY OF MORENO VALLEY
Treasurer's Cash and Investments Report
Account Name Account Number Investment Issuer Value Date Maturity Date Market Value Stated
Rate Yield Price
% of of
Portfolio
Wells Fargo 2017 Refunding of the 2007 RDA TABs
Income fund 49150300 Money Market WF Gov Fund 03/31/25 04/01/25 5,472 0.02% 0.02% 1.00 2.39% Interest fund 49150301 Money Market WF Gov Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% Reserve fund 49150304 Money Market WF Gov Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% 5,472
Wells Fargo 2019 Taxable Lease Revenue Bonds (Electric u tility) Revenue fund 83056100 Money Market WF Gov Fund 03/31/25 04/01/25 199,302 0.02% 0.02% 1.00 86.92% Interest fund 83056101 Money Market WF Gov Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% Construction fund 83056103 Money Market WF Gov Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% Reserve Fund 83056105 Money Market WF Gov Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% 199,302
Wilmington Trust 2020 Taxable Refunding of the 2013 TRIP COPs Revenue fund 143629-000 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 420 0.03% 0.03% 1.00 0.18% Interest fund 143629-001 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 1 0.03% 0.03% 1.00 0.00% Principal fund 143629-002 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 685 0.03% 0.03% 1.00 0.30% Reserve fund 143629-003 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% Admin fund 143629-004 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 908 0.03% 0.03% 1.00 0.40% Surplus fund 143629-005 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% Interest fund 144078-003 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 8,941 0.03% 0.03% 1.00 3.90% 10,955
Wilmington Trust 2024 Taxable Lease Revenue Refunding Bonds Series Revenue fund 171784-000 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% Interest fund 171784-001 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 12,998 0.03% 0.03% 1.00 5.67% Principal fund 171784-002 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% Redemption FD 171784-003 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% Reserve FD 171784-004 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% Cost of Issuance 171784-005 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% Proceeds 171784-006 Money Market Federated Gov Obl Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% 12,998
Wells Fargo 2021 Taxable Refunding Lease Revenue Bonds (Electric Utility) Revenue fund 83056107 Money Market WF Gov Fund 03/31/25 04/01/25 571 0.02% 0.02% 1.00 0.25% Interest fund 83056108 Money Market WF Gov Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% Principal fund 83056109 Money Market WF Gov Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% Reserve fund 83056111 Money Market WF Gov Fund 03/31/25 04/01/25 - 0.00% 0.00% 0.00 0.00% 571
Totals 229,298 100.00%
Type Summary of Bond Proceeds with Fiscal Agents
1 Construction Funds -
2 Principal & Interest Accounts 229,298
3 Debt Service Reserve Funds -
4 Custody Accounts -
5 Arbitrage Rebate Accounts -
6 Other Accounts -
Total Fiscal Agent Funds 229,298

FUNDS WITH FISCAL AGENTS
Construction Funds
Total Fiscal Agent Funds
Principal & Interest Accounts
Debt Service Reserve Funds
Custody Accounts
Arbitrage Rebate Accounts
Other Accounts

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MONTHLY ACCOUNT STATEMENT
City of Moreno Valley | As of March 31, 2025
CHANDLER ASSET MANAGEMENT | chandlerasset.com
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.

Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Custodian:

US Bank

Page 6 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Performance Review
Account Summary
Maturity Distribution
Top Issuers
Credit Quality (S&P)
Total Rate of Return** 1M 3M YTD 1YR 2YRS 3YRS 5YRS 10YRS Since Inception (06/01/10)
City of Moreno Valley 0.46% 2.04% 2.04% 5.74% 4.52% 2.90% 1.30% 1.76% 1.81% Benchmark Return 0.52% 2.00% 2.00% 5.50% 3.96% 2.49% 0.71% 1.47% 1.50% Secondary Benchmark Return 0.51% 1.99% 1.99% 5.59% 4.12% 2.59% 0.88% 1.57% 1.64% Average Modified Duration 2.54
Average Coupon 3.42%
Average Purchase YTM 3.72%
Average Market YTM 4.18%
Average Credit Quality* AA+
Average Final Maturity 2.94
Average Life 2.62
End Values as of
02/28/2025
End Values as of
03/31/2025
Market Value 244,341,006.31 245,227,441.85
Accrued Interes
t 1,334,303.39 1,562,677.61
Total Market Value 245,675,309.71 246,790,119.46
Income Earned 708,061.80 743,495.58
Cont/WD 0.00 0.00
Par 246,786,521.02 247,193,919.43
Book Value 245,008,687.46 245,453,949.46
Cost Value 244,109,263.35 244,517,364.26
Government of The United States 39.30%
FHLMC 11.25%
International Bank for Recon and Dev 3.29%
FNMA 2.62%
Toyota Motor Corporation 1.97%
Massachusetts Mutual Life Insurance 1.60%
International Finance Corporation 1.48%
American Express Credit Master Trust 1.43%
**Periods over 1 year are annualized.

Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index Secondary Benchmark: ICE BofA 1-5 Year AAA-A Corp/Govt *The average credit quality is a weighted average calculation of the highest of S&P , Moody’s and Fitch.

Page 7 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES (CMOS)
Max % (MV) 20.0 11.3 Compliant
Max Maturity (Years) 5.0 3.8 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV) 20.0 8.2 Compliant
Max % Issuer (MV) 5.0 1.4 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

BANKERS' ACCEPTANCES
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant

CERTIFICATE OF DEPOSIT PLACEMENT SERVICE (CDARS)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COLLATERALIZED BANK DEPOSITS
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COLLATERALIZED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COMMERCIAL PAPER
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 27.6 Compliant
Max % Issuer (MV) 5.0 2.0 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

Page 8 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE CD/
TD)
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant

FEDERAL AGENCIES
Max % (MV) 100.0 5.3 Compliant
Max Maturity (Years) 5 3 Compliant

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max % (MV) 100.0 0.0 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 0.2 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

MORTGAGE-BACKED SECURITIES (NON-AGENCY)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 100.0 0.9 Compliant
Max % Issuer (MV) 5.0 0.9 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV) 100.0 1.2 Compliant
Max % Issuer (MV) 5.0 1.2 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUTUAL FUNDS
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 10.0 0.0 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant

Page 9 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0.0 Compliant

REPURCHASE AGREEMENTS
Max Maturity (Years) 1.0 0.0 Compliant

REVERSE REPURCHASE AGREEMENTS
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Days) 92.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 6.1 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 39.3 Compliant
Max Maturity (Years) 5 4 Compliant

Page 10 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
43815GAC3 HAROT 2021-4 A3 0.88
01/21/2026 31,472.90 11/16/2021

0.89%
31,466.27
31,471.74

99.66 4.86%
31,365.96

7.69 0.01%
(105.78)
AAA/NA
AAA

0.81 0.08
47789QAC4 JDOT 2021-B A3 0.52
03/16/2026 15,920.85 07/13/2021

0.52%
15,919.43
15,920.60

99.82 5.22%
15,892.19

3.68 0.01%
(28.41)
AAA/NA
AAA

0.96 0.04
89238JAC9 TAOT 2021-D A3 0.71
04/15/2026 32,985.52 11/09/2021

0.71%
32,984.81
32,985.37

99.71 4.86%
32,890.16

10.41 0.01%
(95.21)
NA/AAA
AAA

1.04 0.07
43815BAC4 HAROT 2022-1 A3 1.88
05/15/2026 201,100.08 02/15/2022

1.89%
201,069.83
201,092.69

99.46 4.73%
200,017.78
168.03

0.08%
(1,074.91)

AAA/AAA
NA

1.12 0.19
05602RAD3 BMWOT 2022-A A3 3.21
08/25/2026 142,431.30 05/10/2022

3.23%
142,423.89
142,429.03

99.68 4.55%
141,975.86

76.20 0.06%
(453.17)

AAA/AAA
NA

1.40 0.24
47787JAC2 JDOT 2022 A3 2.32 09/15/2026 161,440.49 03/10/2022

2.34%
161,404.78
161,429.65

99.48 4.16%
160,597.84
166.46

0.07%
(831.81)
AAA/NA
AAA

1.46 0.28
362554AC1 GMCAR 2021-4 A3 0.68
09/16/2026 45,888.41 10/13/2021

0.68%
45,887.24
45,888.11

99.47 4.91%
45,647.45

13.00 0.02%
(240.67)

AAA/AAA
NA

1.46 0.12
448977AD0 HART 2022-A A3 2.22
10/15/2026 229,695.50 03/09/2022

2.23%
229,686.66
229,692.79

99.56 4.39%
228,689.53
226.63

0.09%
(1,003.26)
NA/AAA
AAA

1.54 0.20
380146AC4 GMCAR 2022-1 A3 1.26
11/16/2026 61,694.38 01/11/2022

1.27%
61,689.02
61,692.77

99.47 4.55%
61,369.67

32.39 0.03%
(323.10)
NA/AAA
AAA

1.63 0.16
362585AC5 GMCAR 2022-2 A3 3.1
02/16/2027 170,901.45 04/05/2022

3.13%
170,865.73
170,888.61

99.49 4.67%
170,022.46
220.75

0.07%
(866.15)

AAA/AAA
NA

1.88 0.33
47800AAC4 JDOT 2022-B A3 3.74
02/16/2027 392,896.02 07/12/2022

3.77%
392,858.50
392,881.10

99.62 4.59%
391,384.59
653.08

0.16%
(1,496.51)
AAA/NA
AAA

1.88 0.47
44934FAD7 HALST 2024-B A3 5.41
05/17/2027 810,000.00 05/14/2024

5.41%
809,977.48
809,983.97
100.89

4.61%
817,177.33
1,947.60

0.33%
7,193.36
NA/AAA
AAA

2.13 1.02
02582JJT8 AMXCA 2022-2 A 3.39
05/17/2027 1,840,000.00 05/17/2022

3.42%
1,839,592.99
1,839,976.23

99.84 4.72%
1,837,113.04
2,772.27

0.75%
(2,863.19)
NA/AAA
AAA

0.12 0.12
47800BAC2 JDOT 2022-C A3 5.09
06/15/2027 845,194.80 10/12/2022

5.15%
845,129.21
845,164.13
100.30

4.63%
847,767.41
1,912.02

0.35%
2,603.28
AAA/NA
AAA

2.21 0.58
36269WAD1 GMALT 2024-2 A3 5.39
07/20/2027 750,000.00 05/07/2024

5.85%
749,956.43
749,968.45
100.94

4.54%
757,062.90
1,235.21

0.31%
7,094.45
NA/AAA
AAA

2.30 1.03
58770JAD6 MBALT 2024-A A3 5.32
01/18/2028 545,000.00 05/17/2024

5.73%
544,936.24
544,951.19
101.19

4.52%
551,504.58
1,288.62

0.22%
6,553.38
AAA/NA
AAA

2.80 1.38
44935WAD9 HALST 25A A3 4.83 01/18/2028 1,185,000.00 01/14/2025

4.83%
1,184,911.24
1,184,916.85
100.65

4.51%
1,192,746.46
2,543.80

0.49%
7,829.61
NA/AAA
AAA

2.80 1.78

Page 11 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 2,200,000.00 09/07/2023

5.17%
2,199,390.16
2,199,578.42
101.13

4.39%
2,224,921.60
5,045.33

0.91%
25,343.18
NA/AAA
AAA

3.46 1.37
437930AC4 HAROT 2024-2 A3 5.27
11/20/2028 710,000.00 05/14/2024

5.27%
709,913.74
709,930.27
101.27

4.44%
719,040.00
1,351.17

0.29%
9,109.74
NA/AAA
AAA

3.64 1.43
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 930,000.00 06/04/2024

5.24%
929,858.73
929,882.86
101.24

4.40%
941,509.77
802.90

0.38%
11,626.91

AAA/AAA
NA

3.91 1.47
43813YAC6 HAROT 2024-3 A3 4.57
03/21/2029 1,310,000.00 08/09/2024

4.68%
1,309,794.20
1,309,821.63
100.42

4.36%
1,315,464.01
1,662.97

0.54%
5,642.38
AAA/NA
AAA

3.97 1.65
02582JKH2 AMXCA 2024-1 A 5.23
04/16/2029 1,645,000.00 04/16/2024

5.30%
1,644,662.78
1,644,726.37
101.85

4.32%
1,675,471.32
3,823.71

0.68%
30,744.95
NA/AAA
AAA

4.04 1.89
05522RDJ4 BACCT 2024-1 A 4.93
05/15/2029 1,050,000.00 06/06/2024

4.93%
1,049,941.10
1,049,950.85
101.31

4.32%
1,063,743.14
2,300.67

0.43%
13,792.28

AAA/AAA
NA

4.12 1.97
47800DAD6 JDOT 2025 A3 4.23 09/17/2029 1,180,000.00 03/04/2025

5.09%
1,179,925.78
1,179,926.72

99.92 4.30%
1,179,070.40
3,192.56

0.48%
(856.33)
AAA/NA
AAA

4.47 2.38
92970QAE5 WFCIT 2024-2 A 4.29
10/15/2029 1,160,000.00 10/17/2024

4.58%
1,159,827.62
1,159,842.70

99.98 4.34%
1,159,749.67
2,211.73

0.47%
(93.03)

AAA/AAA
NA

4.54 2.35
44935CAD3 HART 2025-A A3 4.32
10/15/2029 1,485,000.00 03/04/2025

4.84%
1,484,780.96
1,484,783.57

99.88 4.42%
1,483,241.46
3,385.80

0.60%
(1,542.11)
NA/AAA
AAA

4.54 2.06
362955AD8 GMCAR 2025-1 A3 4.62
12/17/2029 960,000.00 01/09/2025

4.67%
959,928.67
959,931.69
100.61

4.34%
965,854.08
1,848.00

0.39%
5,922.39
AAA/NA
AAA

4.71 1.86
Total ABS 20,091,621.71 4.74%
20,088,783.50
20,089,708.37
100.60

4.45%
20,211,290.65
38,902.69

8.24%
121,582.28

3.22 1.43
AGENCY
3135G05X7 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.375 08/25/2025 3,150,000.00 12/16/2020

0.43%
3,141,904.50
3,149,309.61

98.46 4.28%
3,101,585.63
1,181.25

1.26%
(47,723.98)
AAA/AA
AA

0.40 0.39
3137EAEX3

FEDERAL HOME LOAN
MORTGAGE CORP 0.375
09/23/2025
3,385,000.00 --

0.44%
3,374,969.55
3,384,020.20

98.14 4.35%
3,322,051.93
282.08

1.35%
(61,968.27)
AAA/AA
AA

0.48 0.47
3135G06G3 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.5 11/07/2025 3,400,000.00 --

0.56%
3,389,186.80
3,398,692.87

97.73 4.37%
3,322,837.99
6,800.00

1.36%
(75,854.89)
AAA/AA
AA

0.61 0.59
3133EPME2

FEDERAL FARM CREDIT
BANKS FUNDING CORP 3.875
06/08/2028
3,200,000.00 06/06/2023

3.97%
3,186,080.00
3,191,131.43

99.70 3.97%
3,190,526.72
38,922.22

1.30%
(604.71)
AAA/AA
AA

3.19 2.93
Total Agency 13,135,000.00 1.34%
13,092,140.85
13,123,154.11

98.50 4.25%
12,937,002.27
47,185.56

5.28%
(186,151.84)

1.16 1.09

Page 12 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration

AGENCY CMBS
3137BLW95 FHMS K-050 A2 3.334
08/25/2025 555,647.69 02/07/2022

1.79%
582,475.06
558,228.87

99.47 4.46%
552,712.76
1,543.77

0.23%
(5,516.11)
AAA/AA
AAA

0.40 0.28
3137BSP72 FHMS K-058 A2 2.653
08/25/2026 950,000.00 11/12/2021

1.36%
1,004,736.33
965,516.06

97.75 4.26%
928,620.92
2,100.29

0.38%
(36,895.15)
AAA/AA
AAA

1.40 1.31
3137FAWS3 FHMS K-067 A2 3.194
07/25/2027 675,000.00 09/28/2022

4.37%
640,538.09
658,652.18

97.71 4.20%
659,532.65
1,796.63

0.27%
880.47
AAA/AA
AA

2.32 2.14
3137FBU79 FHMS K-069 A2 3.187
09/25/2027 1,237,869.60 09/28/2022

4.37%
1,172,929.80
1,205,884.19

97.53 4.21%
1,207,319.72
3,287.58

0.49%
1,435.53

AAA/AAA
AA

2.49 2.27
3137FCLD4 FHMS K-071 A2 3.286
11/25/2027 3,250,000.00 04/13/2023

4.03%
3,146,914.06
3,191,306.92

97.59 4.21%
3,171,813.78
8,899.58

1.29%
(19,493.14)
AAA/AA
AAA

2.65 2.45
3137FEBQ2 FHMS K-072 A2 3.444
12/25/2027 1,115,000.00 05/05/2023

3.98%
1,088,910.74
1,099,747.34

97.94 4.21%
1,092,041.04
3,200.05

0.45%
(7,706.30)
AAA/AA
AAA

2.74 2.49
3137FETN0 FHMS K-073 A2 3.35 01/25/2028 2,005,000.00 05/24/2023

4.27%
1,926,992.97
1,958,251.60

97.65 4.22%
1,957,982.15
5,597.29

0.80%
(269.45)
AAA/AA
AAA

2.82 2.54
3137F4D41 FHMS K-074 A2 3.6 01/25/2028 2,200,000.00 07/25/2023

4.73%
2,099,710.93
2,137,706.73

98.28 4.21%
2,162,221.60
6,600.00

0.88%
24,514.87
AAA/AA
AAA

2.82 2.56
3137FEZU7 FHMS K-076 A2 3.9 04/25/2028 2,069,000.00 05/05/2023

3.94%
2,062,615.20
2,065,086.27

98.94 4.22%
2,047,015.63
6,724.25

0.83%
(18,070.64)
AAA/AA
AAA

3.07 2.76
3137FJEH8 FHMS K-081 A2 3.9 08/25/2028 6,200,000.00 --

5.01%
5,899,464.85
5,993,817.61

98.80 4.24%
6,125,541.72
20,150.00

2.50%
131,724.11
AAA/AA
AAA

3.40 3.10
3137FJKE8 FHMS K-082 A2 3.92 09/25/2028 1,500,000.00 11/28/2023

4.74%
1,446,796.88
1,461,721.95

98.85 4.24%
1,482,683.85
4,900.00

0.60%
20,961.90
AAA/AA
AAA

3.49 3.13
3137H4BY5 FHMS K-746 A2 2.031
09/25/2028 1,750,000.00 03/21/2024

4.64%
1,568,164.06
1,609,893.22

92.84 4.27%
1,624,711.90
2,961.88

0.66%
14,818.68
AAA/AA
AAA

3.49 3.25
3137H5YC5 FHMS K-748 A2 2.26 01/25/2029 2,500,000.00 04/11/2024

4.94%
2,221,191.41
2,277,892.75

93.03 4.28%
2,325,642.50
4,708.33

0.95%
47,749.75
AAA/AA
AAA

3.82 3.50
3137FKZZ2 FHMS K-088 A2 3.69 01/25/2029 2,300,000.00 07/29/2024

4.47%
2,226,507.81
2,237,649.88

97.95 4.25%
2,252,806.76
7,072.50

0.92%
15,156.88
AAA/AA
AA

3.82 3.42
Total Agency
CMBS 28,307,517.29

4.39%
27,087,948.19
27,421,355.57

97.51 4.24%
27,590,646.96
79,542.15

11.25%
169,291.39

3.06 2.79
CASH
CCYUSD Receivable 5,870.75 --

0.00%
5,870.75
5,870.75

1.00 0.00%
5,870.75

0.00 0.00%

0.00 AAA/AAA
AAA

0.00 0.00

Page 13 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Cash 5,870.75 0.00%
5,870.75
5,870.75

1.00 0.00%
5,870.75

0.00 0.00%

0.00 0.00

0.00 CORPORATE
40139LBC6 GUARDIAN LIFE GLOBAL
FUNDING 0.875 12/10/2025 1,700,000.00 --

1.12%
1,682,830.00
1,697,155.70

97.62 4.41%
1,659,477.59
4,586.46

0.68%
(37,678.11)
AA/AA
NA

0.70 0.67
66815L2A6

NORTHWESTERN MUTUAL
GLOBAL FUNDING 0.8
01/14/2026
1,100,000.00 12/06/2021

1.46%
1,070,817.00
1,094,389.38

97.25 4.39%
1,069,776.53
1,882.22

0.44%
(24,612.85)
AAA/AA
AAA

0.79 0.77
78016EZQ3 ROYAL BANK OF CANADA 1.2
04/27/2026 1,000,000.00 07/09/2021

1.13%
1,003,440.00
1,000,769.03

96.72 4.37%
967,151.29
5,133.33

0.39%
(33,617.74)
A/A
AA

1.07 1.04
023135BX3 AMAZON.COM INC 1.0
05/12/2026 2,615,000.00 05/10/2021

1.09%
2,603,703.20
2,612,488.23

96.66 4.10%
2,527,601.47
10,096.81

1.03%
(84,886.76)
A/AA
AA

1.11 1.08
91324PEC2 UNITEDHEALTH GROUP INC 1.15
05/15/2026 430,000.00 --

1.08%
431,391.30
430,298.98

96.56 4.32%
415,225.26
1,868.11

0.17%
(15,073.72)
A/A
A

1.12 1.09
89236TJK2 TOYOTA MOTOR CREDIT CORP

1.125 06/18/2026 1,785,000.00 06/15/2021

1.13%
1,784,214.60
1,784,809.46

96.29 4.30%
1,718,702.14
5,745.47

0.70%
(66,107.32)
A/A
A

1.22 1.18
57629WDE7 MASSMUTUAL GLOBAL
FUNDING II 1.2 07/16/2026 1,250,000.00 08/19/2021

1.15%
1,252,787.50
1,250,734.29

96.09 4.34%
1,201,166.23
3,125.00

0.49%
(49,568.06)
AA/AA
AA

1.29 1.26
58989V2D5 MET TOWER GLOBAL FUNDING

1.25 09/14/2026 975,000.00 09/07/2021

1.27%
974,103.00
974,739.15

95.68 4.35%
932,913.69
575.52

0.38%
(41,825.47)
AA/AA
AA

1.46 1.41
931142ER0 WALMART INC 1.05 09/17/2026 445,000.00 09/08/2021

1.09%
444,158.95
444,754.04

95.76 4.06%
426,151.62
181.71

0.17%
(18,602.43)
AA/AA
AA

1.47 1.42
59217GER6 METROPOLITAN LIFE GLOBAL
FUNDING I 1.875 01/11/2027 1,575,000.00 01/03/2022

1.90%
1,573,204.50
1,574,360.86

95.66 4.44%
1,506,627.20
6,562.50

0.61%
(67,733.65)
AA/AA
AA

1.78 1.71
808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027 1,425,000.00 03/01/2022

2.46%
1,424,601.70
1,424,842.47

96.48 4.38%
1,374,843.59
2,715.42

0.56%
(49,998.88)
A/A
A

1.92 1.85
084664CZ2 BERKSHIRE HATHAWAY FINANCE
CORP 2.3 03/15/2027 2,395,000.00 03/07/2022

2.30%
2,394,544.95
2,394,822.32

96.69 4.08%
2,315,637.46
2,448.22

0.94%
(79,184.86)
AA/AA
A

1.96 1.88
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027 895,000.00 05/05/2022

4.03%
893,550.10
894,389.39

99.55 4.23%
890,938.39
14,021.67

0.36%
(3,451.00)
A/A
A

2.11 1.97
91324PEG3
UNITEDHEALTH GROUP INC 3.7
05/15/2027 910,000.00 05/17/2022

3.69%
910,425.60
910,176.23

98.82 4.29%
899,267.86
12,719.78

0.37%
(10,908.37)
A/A
A

2.12 1.99
89115A2C5 TORONTO-DOMINION BANK

4.108 06/08/2027 2,000,000.00 08/26/2022

4.18%
1,993,300.00
1,996,932.53

99.32 4.44%
1,986,329.76
25,789.11

0.81%
(10,602.77)
A/A
NA

2.19 2.04

Page 14 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
24422EXZ7 JOHN DEERE CAPITAL CORP 4.65
01/07/2028 1,635,000.00 01/06/2025

4.66%
1,634,509.50
1,634,546.30
101.24

4.17%
1,655,281.03
17,317.38

0.67%
20,734.73
A/A
A

2.77 2.55
756109AU8 REALTY INCOME CORP 3.65
01/15/2028 1,500,000.00 04/10/2023

4.87%
1,422,720.00
1,454,716.32

97.84 4.48%
1,467,674.63
11,558.33

0.60%
12,958.31
A/A
NA

2.79 2.60
24422EWR6 JOHN DEERE CAPITAL CORP 4.75
01/20/2028 1,650,000.00 01/23/2023

4.40%
1,675,393.50
1,664,279.49
101.44

4.20%
1,673,704.48
15,457.29

0.68%
9,424.99
A/A
A

2.81 2.58
037833ET3 APPLE INC 4.0 05/10/2028 1,000,000.00 05/08/2023

4.01%
999,449.70
999,658.13

99.96 4.01%
999,617.21
15,666.67

0.41%
(40.92)
AAA/AA
NA

3.11 2.85
58933YBH7 MERCK & CO INC 4.05
05/17/2028 1,165,000.00 05/08/2023

4.05%
1,165,218.35
1,165,132.76

99.71 4.15%
1,161,574.83
17,562.38

0.47%
(3,557.93)
AA/A
NA

3.13 2.87
74340XCG4 PROLOGIS LP 4.875 06/15/2028 2,350,000.00 --

4.99%
2,338,786.70
2,342,742.71
101.11

4.50%
2,376,179.38
33,732.29

0.97%
33,436.66
A/A
NA

3.21 2.83
91324PDK5 UNITEDHEALTH GROUP INC 3.85
06/15/2028 1,000,000.00 11/02/2023

5.24%
943,820.00
960,911.00

98.62 4.31%
986,169.96
11,336.11

0.40%
25,258.96
A/A
A

3.21 2.95
89115A2U5 TORONTO-DOMINION BANK

5.523 07/17/2028 1,000,000.00 07/12/2023

5.36%
1,006,890.00
1,004,536.77
102.81

4.59%
1,028,147.64
11,352.83

0.42%
23,610.87
A/A
AA

3.30 2.96
78016HZS2 ROYAL BANK OF CANADA 5.2
08/01/2028 1,750,000.00 09/12/2023

5.50%
1,727,337.50
1,734,518.83
101.93

4.57%
1,783,796.93
15,166.67

0.73%
49,278.10
A/A
AA

3.34 3.01
74456QBX3 PUBLIC SERVICE ELECTRIC AND
GAS CO 3.65 09/01/2028 1,000,000.00 12/14/2023

4.44%
966,790.00
975,870.10

97.85 4.33%
978,452.96
3,041.67

0.40%
2,582.86
A/A
NA

3.42 3.16
40139LBH5 GUARDIAN LIFE GLOBAL
FUNDING 5.737 10/02/2028 1,000,000.00 11/02/2023

5.63%
1,004,470.00
1,003,192.86
104.07

4.47%
1,040,690.47
28,525.64

0.42%
37,497.61
AA/AA
NA

3.51 3.07
26442CAX2 DUKE ENERGY CAROLINAS LLC

3.95 11/15/2028 2,000,000.00 12/06/2023

4.79%
1,927,120.00
1,946,511.57

98.56 4.38%
1,971,247.86
29,844.44

0.80%
24,736.29
AA/A
NA

3.63 3.29
756109BS2 REALTY INCOME CORP 4.7
12/15/2028 1,000,000.00 12/14/2023

4.71%
999,730.00
999,799.57
100.33

4.60%
1,003,313.38
13,838.89

0.41%
3,513.81
A/A
NA

3.71 3.25
66815L2Q1

NORTHWESTERN MUTUAL
GLOBAL FUNDING 4.71
01/10/2029
1,500,000.00 --

4.67%
1,502,853.80
1,502,155.58
100.59

4.54%
1,508,881.29
15,896.25

0.62%
6,725.71
AAA/AA
AAA

3.78 3.39
57629W5B2 MASSMUTUAL GLOBAL
FUNDING II 4.85 01/17/2029 1,290,000.00 01/09/2024

4.85%
1,289,832.30
1,289,872.69
101.14

4.52%
1,304,678.33
12,860.58

0.53%
14,805.64
AA/AA
AA

3.80 3.40
46647PAM8 JPMORGAN CHASE & CO 3.509
01/23/2029 2,000,000.00 01/18/2024

5.07%
1,888,580.00
1,921,678.07

97.19 4.82%
1,943,889.76
13,256.22

0.79%
22,211.69
A/A
AA

3.82 2.62
64952WFF5 NEW YORK LIFE GLOBAL
FUNDING 4.7 01/29/2029 1,000,000.00 01/22/2024

4.74%
998,190.00
998,614.02
100.56

4.54%
1,005,586.20
8,094.44

0.41%
6,972.18
AAA/AA
AAA

3.83 3.44

Page 15 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029 2,000,000.00 04/09/2024

4.85%
1,978,760.00
1,983,053.96
100.66

4.41%
2,013,241.84
15,588.89

0.82%
30,187.88
A/A
NA

3.84 3.45
756109CF9 REALTY INCOME CORP 4.75
02/15/2029 1,000,000.00 05/21/2024

5.18%
982,010.00
985,266.72
100.24

4.68%
1,002,415.51
6,069.44

0.41%
17,148.79
A/A
NA

3.88 3.41
17275RBR2 CISCO SYSTEMS INC 4.85
02/26/2029 1,115,000.00 02/21/2024

4.86%
1,114,609.75
1,114,695.19
101.78

4.35%
1,134,897.07
5,257.53

0.46%
20,201.88
A/AA
NA

3.91 3.44
89236TMF9 TOYOTA MOTOR CREDIT CORP

5.05 05/16/2029 1,000,000.00 05/21/2024

5.00%
1,002,080.00
1,001,722.09
101.80

4.57%
1,017,986.68
18,937.50

0.42%
16,264.59
A/A
A

4.13 3.63
64952WFG3 NEW YORK LIFE GLOBAL
FUNDING 5.0 06/06/2029 1,060,000.00 06/03/2024

5.04%
1,057,964.80
1,058,298.06
102.07

4.45%
1,081,984.92
16,930.56

0.44%
23,686.86
AAA/AA
AAA

4.18 3.69
437076DC3 HOME DEPOT INC 4.75
06/25/2029 1,600,000.00 06/18/2024

4.82%
1,595,280.00
1,596,003.77
101.23

4.43%
1,619,615.28
20,266.67

0.66%
23,611.51
A/A
A

4.24 3.69
713448FX1 PEPSICO INC 4.5 07/17/2029 1,900,000.00 07/15/2024

4.53%
1,897,055.00
1,897,471.11
100.94

4.26%
1,917,826.07
17,575.00

0.78%
20,354.96
A/A
NA

4.30 3.77
171239AL0 CHUBB INA HOLDINGS LLC 4.65
08/15/2029 1,082,000.00 08/12/2024

4.52%
1,088,113.01
1,087,333.13
100.84

4.43%
1,091,119.25
6,428.88

0.44%
3,786.11
A/A
A

4.38 3.83
30303M8S4 META PLATFORMS INC 4.3
08/15/2029 1,140,000.00 08/12/2024

4.33%
1,138,230.18
1,138,452.13

99.98 4.30%
1,139,757.05
6,263.67

0.46%
1,304.92
AA/AA
NA

4.38 3.93
14913UAX8 CATERPILLAR FINANCIAL
SERVICES CORP 4.8 01/08/2030 2,255,000.00 01/06/2025

4.84%
2,250,647.85
2,250,845.68
101.40

4.47%
2,286,587.86
24,955.33

0.93%
35,742.18
A/A
A

4.77 4.18
59217GFT1 METROPOLITAN LIFE GLOBAL
FUNDING I 4.9 01/09/2030 1,925,000.00 01/02/2025

4.95%
1,921,034.50
1,921,212.58
100.85

4.70%
1,941,329.62
21,485.14

0.79%
20,117.04
AA/AA
AA

4.78 4.17
89236TNA9 TOYOTA MOTOR CREDIT CORP

4.95 01/09/2030 2,070,000.00 01/06/2025

5.00%
2,065,570.20
2,065,769.13
101.51

4.59%
2,101,157.66
23,339.25

0.86%
35,388.53
A/A
A

4.78 4.17
57629TBV8 MASSMUTUAL GLOBAL
FUNDING II 4.95 01/10/2030 1,400,000.00 01/03/2025

4.96%
1,399,328.00
1,399,357.81
100.80

4.76%
1,411,137.34
15,592.50

0.58%
11,779.53
AA/AA
AA

4.78 4.17
61747YFK6 MORGAN STANLEY 5.173
01/16/2030 2,000,000.00 01/13/2025

5.39%
1,984,500.00
1,985,295.69
101.33

4.98%
2,026,516.56
21,554.17

0.83%
41,220.87
A/A
A

4.80 3.38
63743HFX5

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.95 02/07/2030
2,000,000.00 02/05/2025

4.88%
2,005,746.39
2,005,576.72
101.31

4.64%
2,026,271.30
14,850.00

0.83%
20,694.58
A/NA
A

4.86 4.18
Total Corporate 67,887,000.00 4.02%
67,409,693.43
67,574,752.59

99.61 4.43%
67,592,540.41
607,053.94

27.56%
17,787.82

3.20 2.82

MONEY MARKET
FUND

Page 16 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
60934N104 FEDERATED HRMS GV O INST 426,909.69 --

4.21%
426,909.69
426,909.69

1.00 4.21%
426,909.69

0.00 0.17%

0.00 AAA/AAA
AAA

0.00 0.00
Total Money
Market Fund 426,909.69 4.21%
426,909.69
426,909.69

1.00 4.21%
426,909.69

0.00 0.17%

0.00 0.00

0.00 MUNICIPAL
BONDS
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029 2,200,000.00 10/30/2024

4.37%
2,211,594.00
2,210,608.85
100.96

4.25%
2,221,139.80
16,500.00

0.91%
10,530.95
AA/AA
AA

4.34 3.88
882724XQ5 TEXAS ST 3.0 10/01/2029 3,000,000.00 10/11/2024

4.06%
2,858,880.00
2,871,963.97

95.57 4.09%
2,866,950.00
45,000.00

1.17%
(5,013.97)
NA/AAA
AAA

4.50 4.15
Total Municipal
Bonds 5,200,000.00 4.19%
5,070,474.00
5,082,572.82

97.92 4.16%
5,088,089.80
61,500.00

2.07%
5,516.98

4.43 4.03

SUPRANATIONAL
459058JL8

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 0.5 10/28/2025
3,400,000.00 --

0.60%
3,384,848.15
3,398,148.13

97.86 4.30%
3,327,407.89
7,225.00

1.36%
(70,740.24)

AAA/AAA
NA

0.58 0.56
4581X0DV7

INTER-AMERICAN
DEVELOPMENT BANK 0.875
04/20/2026
3,435,000.00 04/13/2021

0.97%
3,419,267.70
3,431,691.56

96.72 4.09%
3,322,320.18
13,441.82

1.35%
(109,371.38)

AAA/AAA
NA

1.05 1.03
45950KCX6 INTERNATIONAL FINANCE CORP

0.75 10/08/2026 3,800,000.00 11/08/2021

1.14%
3,728,332.00
3,777,816.10

95.24 4.01%
3,618,977.69
13,695.83

1.48%
(158,838.41)

AAA/AAA
NA

1.52 1.48
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
2,250,000.00 12/12/2024

4.25%
2,213,370.00
2,215,628.30

99.26 4.06%
2,233,301.87
39,960.94

0.91%
17,673.58

AAA/AAA
NA

4.54 4.05
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
2,500,000.00 03/14/2025

4.20%
2,491,500.00
2,491,555.86
100.20

4.08%
2,505,114.38
3,151.04

1.02%
13,558.52

AAA/AAA
NA

4.97 4.45
Total
Supranational 15,385,000.00 1.96%
15,237,317.85
15,314,839.95

97.58 4.11%
15,007,122.01
77,474.64

6.12%
(307,717.94)

2.23 2.05

US TREASURY
91282CAM3 UNITED STATES TREASURY 0.25
09/30/2025 3,300,000.00 03/29/2021

4.26%
3,228,199.22
3,292,056.08

98.06 4.23%
3,236,088.27

22.54 1.32%
(55,967.81)
AAA/AA
AA

0.50 0.49

Page 17 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CAT8 UNITED STATES TREASURY 0.25
10/31/2025 3,400,000.00 02/22/2021

0.54%
3,354,046.88
3,394,279.36

97.76 4.21%
3,323,699.21
3,569.06

1.36%
(70,580.15)
AAA/AA
AA

0.59 0.57
91282CAZ4 UNITED STATES TREASURY 0.375
11/30/2025 2,200,000.00 03/26/2021

0.76%
2,160,554.69
2,194,384.76

97.54 4.17%
2,145,773.43
2,765.11

0.88%
(48,611.33)
AAA/AA
AA

0.67 0.65
91282CCZ2 UNITED STATES TREASURY 0.875
09/30/2026 1,780,000.00 10/18/2021

1.19%
1,753,369.53
1,771,938.65

95.56 3.96%
1,700,942.97

42.55 0.69%
(70,995.67)
AAA/AA
AA

1.50 1.46
91282CDK4 UNITED STATES TREASURY 1.25
11/30/2026 3,500,000.00 12/16/2021

1.17%
3,512,714.84
3,504,273.42

95.71 3.94%
3,349,882.83
14,663.46

1.37%
(154,390.59)
AAA/AA
AA

1.67 1.61
91282CLY5 UNITED STATES TREASURY 4.25
11/30/2026 2,500,000.00 12/20/2024

4.28%
2,498,437.50
2,498,656.29
100.48

3.95%
2,512,011.73
35,611.26

1.02%
13,355.43
AAA/AA
AA

1.67 1.57
91282CME8 UNITED STATES TREASURY 4.25
12/31/2026 7,500,000.00 --

4.28%
7,495,996.09
7,496,460.35
100.52

3.94%
7,538,671.88
80,127.76

3.07%
42,211.52
AAA/AA
AA

1.75 1.65
912828Z78 UNITED STATES TREASURY 1.5
01/31/2027 1,150,000.00 02/07/2022

1.77%
1,135,355.47
1,144,602.95

95.75 3.92%
1,101,125.00
2,859.12

0.45%
(43,477.95)
AAA/AA
AA

1.84 1.78
91282CET4 UNITED STATES TREASURY 2.625
05/31/2027 1,800,000.00 06/09/2022

3.07%
1,763,367.19
1,784,063.92

97.36 3.91%
1,752,398.44
15,836.54

0.71%
(31,665.48)
AAA/AA
AA

2.17 2.06
91282CEW7 UNITED STATES TREASURY 3.25
06/30/2027 2,975,000.00 --

3.12%
2,993,090.82
2,983,197.23

98.66 3.88%
2,935,024.93
24,305.42

1.20%
(48,172.31)
AAA/AA
AA

2.25 2.13
91282CFB2 UNITED STATES TREASURY 2.75
07/31/2027 900,000.00 08/22/2022

3.12%
884,742.19
892,798.45

97.46 3.90%
877,183.60
4,102.21

0.36%
(15,614.85)
AAA/AA
AA

2.33 2.22
91282CFH9 UNITED STATES TREASURY 3.125
08/31/2027 3,150,000.00 --

3.41%
3,109,707.03
3,130,391.62

98.23 3.90%
3,094,136.70
8,559.78

1.26%
(36,254.91)
AAA/AA
AA

2.42 2.29
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 3,900,000.00 10/20/2022

4.45%
3,843,632.81
3,871,456.48
100.58

3.88%
3,922,699.21
439.55

1.60%
51,242.73
AAA/AA
AA

2.50 2.35
91282CFZ9 UNITED STATES TREASURY 3.875
11/30/2027 1,250,000.00 12/05/2022

3.81%
1,253,906.25
1,252,088.34

99.96 3.89%
1,249,462.89
16,234.55

0.51%
(2,625.46)
AAA/AA
AA

2.67 2.48
91282CGC9 UNITED STATES TREASURY 3.875
12/31/2027 3,350,000.00 --

3.71%
3,375,494.14
3,364,186.32

99.98 3.88%
3,349,214.83
32,632.42

1.37%
(14,971.49)
AAA/AA
AA

2.75 2.56
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 5,000,000.00 --

3.84%
4,923,765.63
4,956,228.35

98.95 3.89%
4,947,656.25
29,005.52

2.02%
(8,572.10)
AAA/AA
AA

2.84 2.66
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 5,000,000.00 --

3.98%
4,981,033.20
4,989,004.90
100.29

3.89%
5,014,648.45
17,391.30

2.04%
25,643.55
AAA/AA
AA

2.92 2.72
91282CHE4 UNITED STATES TREASURY 3.625
05/31/2028 3,000,000.00 06/14/2023

4.00%
2,950,429.69
2,968,288.17

99.18 3.90%
2,975,390.64
36,449.18

1.21%
7,102.47
AAA/AA
AA

3.17 2.93
91282CHQ7 UNITED STATES TREASURY 4.125
07/31/2028 4,000,000.00 08/21/2023

4.29%
3,941,718.75
3,960,704.55
100.71

3.90%
4,028,281.24
27,348.07

1.64%
67,576.69
AAA/AA
AA

3.33 3.07

Page 18 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CHX2 UNITED STATES TREASURY 4.375
08/31/2028 1,100,000.00 09/25/2023

4.62%
1,088,398.44
1,091,960.72
101.46

3.91%
1,116,113.28
4,184.78

0.46%
24,152.57
AAA/AA
AA

3.42 3.14
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 1,700,000.00 10/27/2023

4.79%
1,706,441.41
1,704,615.11
103.18

3.91%
1,754,121.10
34,798.34

0.72%
49,505.99
AAA/AA
AA

3.59 3.21
91282CJN2 UNITED STATES TREASURY 4.375
11/30/2028 1,400,000.00 12/28/2023

3.83%
1,434,125.00
1,425,413.44
101.55

3.91%
1,421,765.63
20,528.85

0.58%
(3,647.81)
AAA/AA
AA

3.67 3.32
91282CJR3 UNITED STATES TREASURY 3.75
12/31/2028 4,500,000.00 --

3.99%
4,452,480.47
4,464,108.27

99.41 3.92%
4,473,457.02
42,420.58

1.82%
9,348.75
AAA/AA
AA

3.75 3.43
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029 2,500,000.00 02/16/2024

4.31%
2,465,625.00
2,473,333.68
100.27

3.92%
2,506,835.95
16,574.59

1.02%
33,502.27
AAA/AA
AA

3.84 3.50
91282CKG5 UNITED STATES TREASURY 4.125
03/31/2029 5,000,000.00 --

4.59%
4,897,460.94
4,917,315.68
100.73

3.93%
5,036,523.45
563.52

2.05%
119,207.77
AAA/AA
AA

4.00 3.66
91282CKP5 UNITED STATES TREASURY 4.625
04/30/2029 2,000,000.00 05/03/2024

4.48%
2,012,773.44
2,010,457.38
102.61

3.93%
2,052,109.38
38,839.78

0.84%
41,652.00
AAA/AA
AA

4.08 3.63
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029 1,600,000.00 06/21/2024

4.26%
1,617,187.50
1,614,507.32
102.17

3.93%
1,634,687.50
24,131.87

0.67%
20,180.19
AAA/AA
AA

4.17 3.72
91282CKX8 UNITED STATES TREASURY 4.25
06/30/2029 2,000,000.00 07/18/2024

4.09%
2,014,140.63
2,012,137.31
101.22

3.93%
2,024,376.00
21,367.40

0.83%
12,238.69
AAA/AA
AA

4.25 3.82
91282CLK5 UNITED STATES TREASURY 3.625
08/31/2029 4,000,000.00 09/11/2024

3.45%
4,031,406.25
4,027,941.69

98.75 3.94%
3,949,843.76
12,608.70

1.61%
(78,097.93)
AAA/AA
AA

4.42 4.02
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029 2,500,000.00 10/04/2024

3.76%
2,470,312.50
2,473,184.96

98.18 3.94%
2,454,589.85
239.07

1.00%
(18,595.11)
AAA/AA
AA

4.50 4.12
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 2,500,000.00 12/20/2024

4.36%
2,474,511.72
2,475,911.24
100.77

3.94%
2,519,335.95
34,563.87

1.03%
43,424.71
AAA/AA
AA

4.67 4.15
91282CMD0 UNITED STATES TREASURY 4.375
12/31/2029 3,500,000.00 01/10/2025

4.53%
3,476,347.66
3,477,365.25
101.82

3.95%
3,563,574.21
38,492.75

1.45%
86,208.96
AAA/AA
AA

4.75 4.22
91282CGQ8 UNITED STATES TREASURY 4.0
02/28/2030 2,800,000.00 --

4.02%
2,797,453.12
2,797,473.36
100.23

3.95%
2,806,343.74
9,739.13

1.14%
8,870.38
AAA/AA
AA

4.91 4.41
Total US Treasury 96,755,000.00 3.69%
96,098,226.00
96,414,785.60

99.63 3.94%
96,367,969.31
651,018.64

39.30%
(46,816.29)

2.94 2.70
Total Portfolio 247,193,919.43 3.72%
244,517,364.26
245,453,949.46

99.07 4.18%
245,227,441.85
1,562,677.61
100.00%
(226,507.60)

2.94 2.54
Total Market
Value + Accrued 246,790,119.46

Page 19 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 03/03/2025 60934N104 35,706.25 FEDERATED HRMS GV O INST 1.000 4.24% (35,706.25) 0.00 (35,706.25) 0.00
Purchase 03/04/2025 60934N104 3,046.65 FEDERATED HRMS GV O INST 1.000 4.24% (3,046.65) 0.00 (3,046.65) 0.00
Purchase 03/07/2025 60934N104 2,624,960.44 FEDERATED HRMS GV O INST 1.000 4.21% (2,624,960.44) 0.00 (2,624,960.44) 0.00 Purchase 03/11/2025 47800DAD6 1,180,000.00 JDOT 2025 A3 4.23 09/17/2029 99.994 5.09% (1,179,925.78) 0.00 (1,179,925.78) 0.00 Purchase 03/12/2025 44935CAD3 1,485,000.00 HART 2025-A A3 4.32 10/15/2029 99.985 4.84% (1,484,780.96) 0.00 (1,484,780.96) 0.00 Purchase 03/14/2025 60934N104 6,093.75 FEDERATED HRMS GV O INST 1.000 4.19% (6,093.75) 0.00 (6,093.75) 0.00
Purchase 03/17/2025 60934N104 264,506.73 FEDERATED HRMS GV O INST 1.000 4.20% (264,506.73) 0.00 (264,506.73) 0.00
Purchase 03/17/2025 60934N104 139,487.64 FEDERATED HRMS GV O INST 1.000 4.20% (139,487.64) 0.00 (139,487.64) 0.00
Purchase 03/18/2025 91282CGQ8 1,200,000.00 UNITED STATES TREASURY

4.0 02/28/2030 99.762 4.05% (1,197,140.62) (2,347.83) (1,199,488.45) 0.00 Purchase 03/18/2025 60934N104 3,118.08 FEDERATED HRMS GV O INST 1.000 4.20% (3,118.08) 0.00 (3,118.08)

0.00 Purchase 03/18/2025 60934N104 2,157,004.30 FEDERATED HRMS GV O INST 1.000 4.20% (2,157,004.30) 0.00 (2,157,004.30) 0.00 Purchase 03/20/2025 60934N104 3,368.75 FEDERATED HRMS GV O INST 1.000 4.19% (3,368.75) 0.00 (3,368.75) 0.00
Purchase 03/20/2025 459058LR2 2,500,000.00

INTERNATIONAL BANK

FOR RECONSTRUCTION
AND DEVELOPM 4.125
03/20/2030

99.660 4.20% (2,491,500.00) 0.00 (2,491,500.00) 0.00
Purchase 03/21/2025 91282CGQ8 1,600,000.00 UNITED STATES TREASURY

4.0 02/28/2030 100.020 4.00% (1,600,312.50) (3,652.18) (1,603,964.68) 0.00 Purchase 03/21/2025 60934N104 25,723.15 FEDERATED HRMS GV O INST 1.000 4.18% (25,723.15) 0.00 (25,723.15) 0.00
Purchase 03/24/2025 60934N104 6,346.88 FEDERATED HRMS GV O INST 1.000 4.19% (6,346.88) 0.00 (6,346.88) 0.00

Page 20 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Purchase 03/25/2025 60934N104 84,870.07 FEDERATED HRMS GV O INST 1.000 4.19% (84,870.07) 0.00 (84,870.07) 0.00
Purchase 03/25/2025 60934N104 32,507.48 FEDERATED HRMS GV O INST 1.000 4.19% (32,507.48) 0.00 (32,507.48) 0.00
Purchase 03/31/2025 60934N104 239,225.00 FEDERATED HRMS GV O INST 1.000 4.21% (239,225.00) 0.00 (239,225.00) 0.00
Total Purchase 13,590,965.17 (13,579,625.03) (6,000.01) (13,585,625.04) 0.00 TOTAL
ACQUISITIONS 13,590,965.17 (13,579,625.03) (6,000.01) (13,585,625.04) 0.00

DISPOSITIONS
Sale 03/07/2025 3135G04Z3 (2,650,000.00)

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.5 06/17/2025

98.944 0.50% 2,622,016.00 (2,944.44) 2,624,960.44 (27,991.49) Sale 03/11/2025 60934N104 (1,179,925.78) FEDERATED HRMS GV O INST 1.000 4.21% 1,179,925.78 0.00 1,179,925.78 0.00
Sale 03/12/2025 60934N104 (1,484,780.96) FEDERATED HRMS GV O INST 1.000 4.20% 1,484,780.96 0.00 1,484,780.96 0.00
Sale 03/18/2025 3137EAEU9 (3,400,000.00)

FEDERAL HOME LOAN
MORTGAGE CORP 0.375
07/21/2025

98.661 0.45% 3,354,474.00 (2,018.75) 3,356,492.75 (44,692.01) Sale 03/20/2025 60934N104 (2,491,500.00) FEDERATED HRMS GV O INST 1.000 4.19% 2,491,500.00 0.00 2,491,500.00 0.00
Sale 03/21/2025 60934N104 (1,603,964.68) FEDERATED HRMS GV O INST 1.000 4.18%
1,603,964.68 0.00 1,603,964.68 0.00
Total Sale (12,810,171.42) 12,736,661.42 (4,963.19) 12,741,624.61 (72,683.50) TOTAL
DISPOSITIONS (12,810,171.42) 12,736,661.42 (4,963.19) 12,741,624.61 (72,683.50) OTHER

TRANSACTIONS
Coupon 03/01/2025 3137BSP72 0.00 FHMS K-058 A2 2.653
08/25/2026 1.36% 2,100.29 0.00 2,100.29 0.00

Page 21 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 03/01/2025 3137BLW95 0.00 FHMS K-050 A2 3.334
08/25/2025 1.79% 1,551.75 0.00 1,551.75 0.00
Coupon 03/01/2025 3137FEZU7 0.00 FHMS K-076 A2 3.9
04/25/2028 3.94% 6,724.25 0.00 6,724.25 0.00
Coupon 03/01/2025 3137FEBQ2 0.00 FHMS K-072 A2 3.444
12/25/2027 3.98% 3,200.05 0.00 3,200.05 0.00
Coupon 03/01/2025 3137FCLD4 0.00 FHMS K-071 A2 3.286
11/25/2027 4.03% 8,899.58 0.00 8,899.58 0.00
Coupon 03/01/2025 3137FETN0 0.00 FHMS K-073 A2 3.35
01/25/2028 4.27% 5,597.29 0.00 5,597.29 0.00
Coupon 03/01/2025 3137FAWS3 0.00 FHMS K-067 A2 3.194
07/25/2027 4.37% 1,796.63 0.00 1,796.63 0.00
Coupon 03/01/2025 3137FBU79 0.00 FHMS K-069 A2 3.187
09/25/2027 4.37% 3,294.04 0.00 3,294.04 0.00
Coupon 03/01/2025 74456QBX3 0.00

PUBLIC SERVICE ELECTRIC
AND GAS CO 3.65
09/01/2028

4.44% 18,250.00 0.00 18,250.00 0.00
Coupon 03/01/2025 3137FKZZ2 0.00 FHMS K-088 A2 3.69
01/25/2029 4.47% 7,072.50 0.00 7,072.50 0.00
Coupon 03/01/2025 3137H4BY5 0.00 FHMS K-746 A2 2.031
09/25/2028 4.64% 2,961.88 0.00 2,961.88 0.00
Coupon 03/01/2025 3137F4D41 0.00 FHMS K-074 A2 3.6
01/25/2028 4.73% 6,600.00 0.00
6,600.00 0.00
Coupon 03/01/2025 3137FJKE8 0.00 FHMS K-082 A2 3.92
09/25/2028 4.74% 4,900.00 0.00 4,900.00 0.00
Coupon 03/01/2025 3137H5YC5 0.00 FHMS K-748 A2 2.26
01/25/2029 4.94% 4,708.33 0.00 4,708.33 0.00
Coupon 03/01/2025 3137FJEH8 0.00 FHMS K-081 A2 3.9
08/25/2028 5.05% 20,150.00 0.00 20,150.00 0.00
Coupon 03/03/2025 808513BY0 0.00 CHARLES SCHWAB CORP

2.45 03/03/2027 2.45% 17,456.25 0.00 17,456.25 0.00
Coupon 03/14/2025 58989V2D5 0.00

MET TOWER GLOBAL
FUNDING 1.25
09/14/2026

1.27% 6,093.75 0.00 6,093.75 0.00

Page 22 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 03/15/2025 47789QAC4 0.00 JDOT 2021-B A3 0.52
03/16/2026 0.52% 16.30 0.00 16.30 0.00
Coupon 03/15/2025 89238JAC9 0.00 TAOT 2021-D A3 0.71
04/15/2026 0.71% 31.56 0.00 31.56 0.00
Coupon 03/15/2025 44935FAD6 0.00 HART 2021-C A3 0.74
05/15/2026 0.75% 5.66 0.00 5.66 0.00
Coupon 03/15/2025 43815BAC4 0.00 HAROT 2022-1 A3 1.88
05/15/2026 1.89% 386.99 0.00 386.99 0.00
Coupon 03/15/2025 448977AD0 0.00 HART 2022-A A3 2.22
10/15/2026 2.23% 517.19 0.00 517.19 0.00
Coupon 03/15/2025 084664CZ2 0.00

BERKSHIRE HATHAWAY
FINANCE CORP 2.3
03/15/2027

2.30% 27,542.50 0.00 27,542.50 0.00
Coupon 03/15/2025 47787JAC2 0.00 JDOT 2022 A3 2.32
09/15/2026 2.34% 348.47 0.00 348.47 0.00
Coupon 03/15/2025 02582JJT8 0.00 AMXCA 2022-2 A 3.39
05/17/2027 3.42% 5,198.00 0.00 5,198.00 0.00
Coupon 03/15/2025 47800AAC4 0.00 JDOT 2022-B A3 3.74
02/16/2027 3.77% 1,345.55 0.00 1,345.55 0.00
Coupon 03/15/2025 92970QAE5 0.00 WFCIT 2024-2 A 4.29
10/15/2029 4.29% 4,147.00 0.00 4,147.00 0.00
Coupon 03/15/2025 44935WAD9 0.00 HALST 25A A3 4.83
01/18/2028 4.83% 4,769.63 0.00
4,769.63 0.00
Coupon 03/15/2025 05522RDJ4 0.00 BACCT 2024-1 A 4.93
05/15/2029 4.93% 4,313.75 0.00 4,313.75 0.00
Coupon 03/15/2025 47800BAC2 0.00 JDOT 2022-C A3 5.09
06/15/2027 5.15% 3,853.48 0.00 3,853.48 0.00
Coupon 03/15/2025 161571HT4 0.00 CHAIT 2023-1 A 5.16
09/15/2028 5.17% 9,460.00 0.00 9,460.00 0.00
Coupon 03/15/2025 02582JKH2 0.00 AMXCA 2024-1 A 5.23
04/16/2029 5.30% 7,169.46 0.00 7,169.46 0.00
Coupon 03/15/2025 44934FAD7 0.00 HALST 2024-B A3 5.41
05/17/2027 5.41% 3,651.75 0.00 3,651.75 0.00
Coupon 03/15/2025 58770JAD6 0.00 MBALT 2024-A A3 5.32
01/18/2028 5.73% 2,416.17 0.00 2,416.17 0.00

Page 23 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 03/16/2025 362554AC1 0.00 GMCAR 2021-4 A3 0.68
09/16/2026 0.68% 34.81 0.00 34.81 0.00
Coupon 03/16/2025 380146AC4 0.00 GMCAR 2022-1 A3 1.26
11/16/2026 1.27% 82.20 0.00 82.20 0.00
Coupon 03/16/2025 362585AC5 0.00 GMCAR 2022-2 A3 3.1
02/16/2027 3.13% 498.59 0.00 498.59 0.00
Coupon 03/16/2025 362955AD8 0.00 GMCAR 2025-1 A3 4.62
12/17/2029 5.03% 3,696.00 0.00 3,696.00 0.00
Coupon 03/17/2025 931142ER0 0.00 WALMART INC 1.05
09/17/2026 1.09% 2,336.25 0.00 2,336.25 0.00
Coupon 03/18/2025 437930AC4 0.00 HAROT 2024-2 A3 5.27
11/20/2028 5.27% 3,118.08 0.00 3,118.08 0.00
Coupon 03/20/2025 36269WAD1 0.00 GMALT 2024-2 A3 5.39
07/20/2027 5.85% 3,368.75 0.00 3,368.75 0.00
Coupon 03/21/2025 43815GAC3 0.00 HAROT 2021-4 A3 0.88
01/21/2026 0.89% 38.26 0.00 38.26 0.00
Coupon 03/21/2025 43813YAC6 0.00 HAROT 2024-3 A3 4.57
03/21/2029 4.66% 4,988.92 0.00 4,988.92 0.00
Coupon 03/23/2025 3137EAEX3 0.00

FEDERAL HOME LOAN
MORTGAGE CORP 0.375
09/23/2025

0.44% 6,346.88 0.00 6,346.88 0.00
Coupon 03/25/2025 05602RAD3 0.00 BMWOT 2022-A A3 3.21
08/25/2026 3.23% 456.03 0.00
456.03 0.00
Coupon 03/25/2025 096919AD7 0.00 BMWOT 2024-A A3 5.18
02/26/2029 5.18% 4,014.50 0.00 4,014.50 0.00
Coupon 03/31/2025 91282CAM3 0.00 UNITED STATES TREASURY

0.25 09/30/2025 0.74% 4,125.00 0.00 4,125.00 0.00
Coupon 03/31/2025 91282CCZ2 0.00 UNITED STATES TREASURY

0.875 09/30/2026 1.19% 7,787.50 0.00 7,787.50 0.00
Coupon 03/31/2025 91282CLN9 0.00 UNITED STATES TREASURY

3.5 09/30/2029 3.76% 43,750.00 0.00 43,750.00 0.00
Coupon 03/31/2025 91282CFM8 0.00 UNITED STATES TREASURY

4.125 09/30/2027 4.45% 80,437.50 0.00 80,437.50 0.00
Coupon 03/31/2025 91282CKG5 0.00 UNITED STATES TREASURY

4.125 03/31/2029 4.62% 103,125.00 0.00 103,125.00 0.00

Page 24 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Total Coupon 0.00 464,734.32 0.00 464,734.32 0.00
Dividend 03/31/2025 60934N104 0.00 FEDERATED HRMS GV O
INST 5.17% 5,870.75 0.00 5,870.75 0.00
Total Dividend 0.00 5,870.75 0.00 5,870.75 0.00
Principal Paydown 03/01/2025 3137BLW95 2,870.53 FHMS K-050 A2 3.334 08/25/2025 1.79% 2,870.53 -- 2,870.53 0.00
Principal Paydown 03/01/2025 3137FBU79 2,432.78 FHMS K-069 A2 3.187 09/25/2027 4.37% 2,432.78 -- 2,432.78 0.00
Principal Paydown 03/15/2025 47789QAC4 21,691.56 JDOT 2021-B A3 0.52 03/16/2026 0.52% 21,691.56 -- 21,691.56 0.00
Principal Paydown 03/15/2025 89238JAC9 20,358.09 TAOT 2021-D A3 0.71 04/15/2026 0.71% 20,358.09 -- 20,358.09 (0.00)
Principal Paydown 03/15/2025 44935FAD6 9,183.70 HART 2021-C A3 0.74 05/15/2026 0.75% 9,183.70 -- 9,183.70 0.02
Principal Paydown 03/15/2025 43815BAC4 45,918.29 HAROT 2022-1 A3 1.88 05/15/2026 1.89% 45,918.29 -- 45,918.29 0.00
Principal Paydown 03/15/2025 448977AD0 49,865.29 HART 2022-A A3 2.22 10/15/2026 2.23% 49,865.29 -- 49,865.29 (0.01)
Principal Paydown 03/15/2025 47787JAC2 18,804.51 JDOT 2022 A3 2.32 09/15/2026 2.34% 18,804.51 -- 18,804.51 0.00
Principal Paydown 03/15/2025 47800AAC4 38,831.87 JDOT 2022-B A3 3.74 02/16/2027 3.77% 38,831.87 --
38,831.87 (0.00)
Principal Paydown 03/15/2025 47800BAC2 63,288.60 JDOT 2022-C A3 5.09 06/15/2027 5.15% 63,288.60 -- 63,288.60 (0.00)
Principal Paydown 03/16/2025 362554AC1 15,542.04 GMCAR 2021-4 A3 0.68 09/16/2026 0.68% 15,542.04 -- 15,542.04 0.00
Principal Paydown 03/16/2025 380146AC4 16,587.54 GMCAR 2022-1 A3 1.26 11/16/2026 1.27% 16,587.54 -- 16,587.54 (0.00)
Principal Paydown 03/16/2025 362585AC5 22,101.57 GMCAR 2022-2 A3 3.1 02/16/2027 3.13% 22,101.57 -- 22,101.57 0.00
Principal Paydown 03/21/2025 43815GAC3 20,695.97 HAROT 2021-4 A3 0.88 01/21/2026 0.89% 20,695.97 -- 20,695.97 0.00
Principal Paydown 03/25/2025 05602RAD3 28,047.12 BMWOT 2022-A A3 3.21 08/25/2026 3.23% 28,047.12 -- 28,047.12 0.00

Page 25 of 38 ends

City of Moreno Valley | As of March 31, 2025
Execution Time: 04/03/2025 02:52:23 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Total Principal
Paydown 376,219.46 376,219.46 -- 376,219.46 0.02

TOTAL OTHER
TRANSACTIONS 376,219.46 846,824.53 0.00 846,824.53 0.02

Page 26 of 38 ends

MONTHLY ACCOUNT STATEMENT
City of Moreno Valley Limited Strategy | (CLOSED) | As of December 31, 2024 CHANDLER ASSET MANAGEMENT | chandlerasset.com
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.

Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Custodian:

US Bank

Page 27 of 38 ends

PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Account Summary
Maturity Distribution
Top Issuers
Credit Quality (S&P)
Average Modified Duration
Average Coupon
Average Purchase YTM
Average Market YTM
Average Quality*
Average Final Maturity
Average Life
End Values as of
11/30/2024
End V alues as of
12/31/2024
Market Value 27,678,663.57 0.00
Accrued Interest 0.00 0.00
Total Market Value 27,678,663.57 0.00
Income Earned 118,874.69 71,641.72
Cont/WD 0.00 (27,737,763.27)
Par 27,737,763.27 0.00
Book Value 27,667,008.52 0.00
Cost Value 27,042,008.23 0.00
*The credit quality is a weighted average calculation of the highest of S&P , Moody’s and Fitch

Page 28 of 38 ends

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES (CMOS)
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

BANKERS' ACCEPTANCES
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 Compliant
Max Maturity (Days) 180 0.0 Compliant

CERTIFICATE OF DEPOSIT PLACEMENT SERVICE (CDARS)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COLLATERALIZED BANK DEPOSITS
Max % Issuer (MV) 5.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COLLATERALIZED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % Issuer (MV) 5.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COMMERCIAL PAPER
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

Page 29 of 38 ends

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE CD/
TD)
Max % Issuer (MV) 5.0 Compliant
Max Maturity (Years) 5 0.0 Compliant

FEDERAL AGENCIES
Max % (MV) 100.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max % (MV) 100.0 0.0 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 0.0 Compliant Client Directed. Funds transferred to operating reserve account Min Rating (AAA by 2) 0.0 0.0 Compliant

MORTGAGE-BACKED SECURITIES (NON-AGENCY)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 100.0 0.0 Compliant
Max % Issuer (MV) 5.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV) 100.0 0.0 Compliant
Max % Issuer (MV) 5.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUTUAL FUNDS
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 10.0 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 Compliant

Page 30 of 38 ends

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0.0 Compliant

REPURCHASE AGREEMENTS
Max Maturity (Years) 1.0 0.0 Compliant

REVERSE REPURCHASE AGREEMENTS
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Days) 92.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant

Page 31 of 38 ends

RECONCILIATION SUMMARY
Accrual Activity Summary
Fair Market Activity Summary
Month t o Date Fiscal Year to Date
(07/01/2024)
Beginning Book Value 27,667,008.52 27,060,742.86
Maturities/Calls (27,500,000.00) (27,500,000.00)
Principal Paydowns 0.00 0.00
Purchases 27,500,886.97 27,524,224.83
Sales (27,737,763.27) (27,737,763.27)
Change in Cash, Payables, Receivables (886.97) (19,374.54) Amortization/Accretion 70,754.75 672,170.12
Realized Gain (Loss) 0.00 0.00
Ending Book Value 0.00 0.00
Month t o Date Fiscal Year to Date
(07/01/2024)
Beginning Market Value 27,678,663.57 27,064,700.66
Maturities/Calls (27,500,000.00) (27,500,000.00)
Principal Paydowns 0.00 0.00
Purchases 27,500,886.97 27,524,224.83
Sales (27,737,763.27) (27,737,763.27)
Change in Cash, Payables, Receivables (886.97) (19,374.54) Amortization/Accretion 70,754.75 672,170.12
Change in Net Unrealized Gain (Loss) (11,655.05) (3,957.80) Realized Gain (Loss) 0.00 0.00
Ending Market Value 0.00 0.00
Maturities / Calls
Month to Date (27,500,000.00)
Fiscal Year to Date (27,500,000.00)
Principal Paydowns
Month to Date 0.00
Fiscal Year to Date 0.00
Purchases
Month to Date 27,500,886.97
Fiscal Year to Date 27,524,224.83
Sales
Month to Date (27,737,763.27)
Fiscal Year to Date (27,737,763.27)
Interest Received
Month to Date 886.97
Fiscal Year to Date 24,224.83
Purchased / Sold Interest
Month to Date 0.00
Fiscal Year to Date 0.00

Page 32 of 38 ends

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Portfolio 0.00

0.00 0.00

0.00 0.00 0.00
Total Market
Value + Accrued 0.00

Page 33 of 38 ends

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 12/03/2024 60934N104 886.97 FEDERATED HRMS GV O INST 1.000 5.17% (886.97) 0.00 (886.97) 0.00
Purchase 12/19/2024 60934N104 27,500,000.00 FEDERATED HRMS GV O INST 1.000 5.17% (27,500,000.00) 0.00 (27,500,000.00) 0.00 Total Purchase 27,500,886.97 (27,500,886.97) 0.00 (27,500,886.97) 0.00 TOTAL
ACQUISITIONS 27,500,886.97 (27,500,886.97) 0.00 (27,500,886.97) 0.00 OTHER

TRANSACTIONS
Maturity 12/19/2024 912797LQ8 (27,500,000.00) UNITED STATES TREASURY 12/19/2024 100.000 0.00% 27,500,000.00 0.00 27,500,000.00 0.00 Total Maturity (27,500,000.00) 27,500,000.00 0.00 27,500,000.00 0.00 Sale 12/19/2024 60934N104 (27,737,763.27) FEDERATED HRMS GV O INST 1.000 5.17% 27,737,763.27 0.00 27,737,763.27 0.00
Total Sale (27,737,763.27) 27,737,763.27 0.00 27,737,763.27 0.00

TOTAL OTHER
TRANSACTIONS (55,237,763.27) 55,237,763.27 0.00 55,237,763.27 0.00 OTHER

TRANSACTIONS
Cash Transfer 12/19/2024 CCYUSD (27,737,763.27) Cash 0.00% (27,737,763.27) 0.00 (27,737,763.27) 0.00 Total Cash
Transfer (27,737,763.27) (27,737,763.27) 0.00 (27,737,763.27) 0.00

TOTAL OTHER
TRANSACTIONS (27,737,763.27) (27,737,763.27) 0.00 (27,737,763.27) 0.00

Page 34 of 38 ends

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income

CASH & EQUIVALENTS
60934N104 FEDERATED HRMS GV O INST

0.00 236,876.30
27,500,886.97
(27,737,763.27)

0.00 0.00
886.97

0.00 886.97

0.00 0.00

0.00 886.97
886.97
CCYUSD Receivable

0.00 886.97

0.00 0.00

0.00 0.00
Total Cash & Equivalents 0.00
237,763.27
27,500,886.97
(27,737,763.27)

0.00 0.00
886.97

0.00 886.97

0.00 0.00

0.00 886.97 886.97

FIXED INCOME
912797LQ8 UNITED STATES TREASURY
12/19/2024
06/24/2024
06/25/2024

0.00 27,429,245.25

0.00 (27,500,000.00)

0.00 0.00

0.00 70,754.75

0.00 70,754.75
70,754.75
70,754.75
Total Fixed Income 0.00
27,429,245.25

0.00 (27,500,000.00)

0.00 0.00

0.00 70,754.75

0.00 70,754.75
70,754.75 70,754.75
TOTAL PORTFOLIO 0.00
27,667,008.52
27,500,886.97
(55,237,763.27)

0.00 0.00
886.97

0.00 886.97
70,754.75

0.00 70,754.75
71,641.72 71,641.72

Page 35 of 38 ends

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount Grand Total

Page 36 of 38 ends

March 2025
Market Data
World Stock Market Indices
data as of 2/28/2025
$CHG .Jai.CliG....
(1/31/2025)
S&P 500
5,954.50 (86.03) (1.42%)
NASDAQ
18,847.28 (780.16)

DOW JONES
43,840.91 (703.75)

FTSE (UK)
8,809.74
DAX (Germany)
135.78
22,551.43 819.38
Hang Seng (Hong Kong)
22,941.32 2,716.21
Nikkei (Japan)
(3.97%)
(1.58%)

1.57%

3.77%

13.4%
37,155.50 (2,416.99) (6.11%)
Source: Bloomberg. Please see
descriptions of indices on Page 2.
,,,. .. CHANDLER
"'·· ASSET MANAGEMENT
Toll Free: 800.317.4747
[email protected]
chandlerasset.com

BOND MARKET REVIEW
A Monthly Review of Fi xed Income Markets
Market Summary
After a hotter than anticipated January CPI print, recent data has again pointed to inflation slowing. However, uncertainty remains as to what extent tariffs will result in more inflation. Job creation improved marginally in February, yet the underemployment rate also notably increased, which together may reflect a bias toward part-time job creation. The Federal Reserve appears poised to leave monetary policy unchanged in the near-term pending clarity on fiscal policy. As such, the Chandler team expects gradual normalization of monetary policy and a steepening yield curve through the remaining year.

After leaving the Fed Funds Rate unchanged at 4.25-4.50% at the January meeting, the Federal Open Market Committee (FOMC) did not have a scheduled meeting in February. Fed policy makers now find themselves in a precarious position as the polarizing initiatives the Trump administration posits continue to garner uncertainly and renewed fears of inflation. According to Chair Powell, the Fed is "well positioned to wait for greater clarity," and likely to leave the Fed Funds Rate unchanged at the upcoming March FOMC meeting. The market implied probability for a March rate cut is at 0.8%. As the effects of trade and fiscal policy become more clear, our view at Chandler is for monetary policy easing to continue at a slower cadence through 2025.

US Treasury yields declined, and the curve flattened in February. The 2-year Treasury yield declined 21 basis points to 3.99%, the 5-year Treasury fell 31 basis points to 4.02%, and the 10-year Treasury yield dropped 33 basis points to 4.21%.

The spread between the 2-year and 10-year Treasury yield points on the curve narrowed to +22 basis points at February month-end versus +34 basis points at January month-end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was -37 basis points. The spread between the 3-month and 10- year Treasury yield points on the curve was -9 basis points in February, versus +25 basis points in January.

TREASURY YIELDS LOWER ACROSS THE CURVE IN FEBRUARY
7,0(l)t; ,----------------------------,
6,0(l)t;

5.00%

4.00%

3.00%
- - - - February 2024 - - January 2025 - February 2025
.,,, Source: Bloomberg ,.,<>
Escalating concern over trade policy uncertainty, and recent economic data signaling potential slowing of the economy led investors to seek the safety of US Treasuries in February. Treasury yields finished the month lower with longer dated maturities declining more than shorter-dated maturities flattening the yield curve.

February also marked the first time the 2-year yield fell below 4% since October 2024, reaching 3.99%.

TREASURY YIELDS Trend (.A./'Y) 2/28/25 1/31/25 Change
3-Month ... 4.30 4.29 -0.01
2-Year ... 3.99 4.20 -0.21
3-Year ... 3.97 4.24 -0.27
5-Year ... 4.02 4.33 -0.31
7-Year ... 4.12 4.44 -0.33
10-Year ... 4.21 4.54 -0.33
30-Year ... 4.49 4.79 -1.30
Source: Bloomberg
Chandler Asset Management I 800.317.4747 I chandlerasset.com

Page 37 of 38 ends

BOND MARKET REVIEW
Since 1988, Chandler
Asset Management
has specialized in
providing fixed
income investment
solutions to risk-averse
public agencies and
institutions. Chandler's
mission is to provide
fully customizable
client-centered portfolio
management that
preserves principal,
mitigates risk, and
generates income in
our clients' portfolios.

Economic Roundup
Consumer Prices
Credit spreads were relatively unchanged in February
CREDIT SPREADS Spread to Treasuries One Month Ago Change 3-month top rated commercial paper (%) 4.33
2-year A corporate note
5-year A corporate note
5-year Agency note
Source: Bloomberg

0.36 0.59

0.03 Crude oil prices decreased in February
ECONOMIC INDICATOR Current Release
Trade Balance (131.38) $B JAN. 31
Gross Domestic Product 2.30% DEC. 31
Unemployment Rate 4.10% FEB. 28
Prime Rate 7.50% FEB. 28
Refinitiv/CoreCommodity CRB Index 301.83 FEB. 28
Oil (West Texas Int.) $69. 76 FEB. 28
Consumer Price Index (y/o/y) 2.80% FEB. 28
Producer Price Index (y/o/y) 2.10% FEB. 28
Euro/Dollar 1.04 FEB. 28
Source: Bloomberg
(%) 4.31

0.28 0.52

0.04 Prior Release
(98.06) $B DEC. 31

2.30% DEC. 31

4.00% JAN. 31

7.50% JAN. 31
304.95 JAN. 31
$72.53 JAN. 31

3.00% JAN. 31

2.90% JAN. 31

1.04 JAN. 31

0.02 0.08

0.07 (0.01)
Data as of 2/28/2025
One Year Ago
(66.86) $B JAN. 31

3.20% DEC. 31

3.90% FEB. 29

8.50% FEB. 29
275.08 FEB. 29
$78.26 FEB. 29

3.20% FEB. 29

1.00% FEB. 29

1.08 FEB. 29
Inflation pressures eased in February as consumer prices rose 0.2% from the prior month, with core CPI -which excludes food and energy -matching that pace. Notably, shelter costs continued to moderate, offering signs of relief in a persistently sticky category. At the wholesale level, the Producer Prices Index (PPI) Final Demand Index was unchanged month-over-month, while Core PPI declined -0.1%. Both measures feed into the Fed's preferred inflation gauge, the PCE Core Deflator index, which is expected to show a 0.3% gain for February, keeping annualized inflation between 2.5% and 3%. While still above the Fed's 2% target, policymakers may be inclined to ease rates if labor market conditions weaken.

Retail Sales
The Retail Sales report for February rose 0.2% month-over-month, which followed the prior decline of -1.2% in January. Online sales increased 2.4% month-over-month, which was enough to counter the drop in gas station and restaurant sales and keep the change from January in positive territory. On a year-over-year basis, retail sales were up 3.1%. The Retail Sales Control Group, which strips out food services, auto dealers, building material retailers, and gas stations surprised to the upside rising

1.0% versus the consensus estimate of 0.4% month-over-month. The control group data feeds directly into the calculation tor the PCE inflation measure.

Labor Market
The U.S. economy added 151,000 jobs in February, below consensus expectations, and the last two months were revised down by 2,000. Gains were led by education and health services, transportation, and financial activities, with cutbacks in federal jobs and consumer-oriented fields such as leisure and hospitality and retail. The three-month moving average and six-month moving average payrolls totaled 200,000 and 191,000 respectively. The unemployment rate rose to 4.1% in February, and the labor participation rate edged down to 62.4%, remaining below the pre-pandemic level of 63.3%. The U-6 underemployment rate, which includes those who are marginally attached to the labor force and employed part time for economic reasons soared to

8.0% in February from 7.5% last month to its highest level since 2021. Average hourly earnings ticked up to an increase of 4.0% year-over-year in February.

Housing Starts
Housing starts declined 9.8% to 1.4 million units in January. Total starts are down 0.7% compared to January 2024. Single family home starts slowed to 993,000 units and multi-family starts slowed to 355,000 units. The Freddie Mac 30-year fixed rate mortgage averaged approximately 6.8% in February. According to the Case-Shiller 20-City Home Price Index, housing prices rose 4.5% year-over-year in December versus 4.4% year-over-year in November. With more inventory entering the market the trend is gradually improving; however higher mortgage rates continue to impact affordability.

World Stock Market Index Descriptions
S&P 500-The S&P 500 is a market value-weighted index of 500 large-capitalization stocks. The 500 companies induded in the index capture approximately 80"A, of available US market capitalization.

NASDAQ-The NASDAQ Composite Index is the market capitalization-weighted index of over 3.300 common stocks listed on the NASDAQ stock exchange. Dow Jones-The Dow Jones Industrial Average is an index that tracks 30 large, publidy-owned companies trading on the New York Stock Exchange and the NASDAQ. The Financial Times Stock Exchange Group (FTSE}-The FTSE is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization. DAX-The Deutscher Aktienindex (DAX) is a blue chip stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange. Hang Seng-The Hang Seng Index is a freefloat-adjusted market-capitalization- weighted stock market index in Hong Kong.

It is used to record and monitor daily changes of the largest companies of the Hong Kong stock market and is the main indicator of overall market performance in Hong Kong. Nikkei-Japan's Nikkei 225 Stock Average is a price-weighted index composed of Japan's top 225 blue-chip companies traded on the Tokyo Stock Exchange. © 2025 Chandler Asset Management, Inc. An Independent Registered Investment Adviser. Data source: Bloomberg, Federal Reserve, and the US Department of Labor. This report is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice. Any opinions or views expressed are based on current market conditions and are subject to change. This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as an indicator of future results. Past performance is not indicative of future results. This report is not intended to constitute an offer, solicitation, recommendation, or advice regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment. Fixed income investments are subject to interest rate, credit, and market risk. Interest rate risk: The value of fixed income investments will dedine as interest rates rise.

Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low-rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk.

Market risk: the bond market, in general, could decline due to economic conditions, especially during periods of rising interest rates. The S&P Corelogic Case-Shiller home price index tracks monthly changes in the value of residential real estate in 20 metropolitan regions across the nation.

Chandler Asset Management I 800.317.4747 I chandlerasset.comI

Page 38 of 38 ends

Moreno Valley City CouncilMay 20, 2025

Moreno Valley City Council
May 20, 2025