CHANDLER ASSET MANAGEMENT, INC. | 800.317.4747 | www.chandlerasset.com
INVESTMENT REPORT
Period Ending March 31, 2024
City of Murrieta
SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Consolidated Information
SECTION 4 Portfolio Holdings
SECTION 5 Transactions
Table of Contents As of March 31, 2024
1 SECTION | Section 1 | Economic Update
2 Economic Update
▪
▪
▪
Recent economic data has shown above trend growth fueled by a rise in consumer spending and a continuing healthy US job market.
Inflationary trends are subsiding, but core levels remain above the Fed’s target. Given the cumulative effects of restrictive monetary policy and tighter financial conditions, we believe the economy will gradually soften and the Fed will loosen monetary policy in 2024.
As expected at the March meeting, the Federal Open Market Committee voted unanimously to leave the Federal Funds rate unchanged at a target range of 5.25 - 5.50%. The March Summary of Economic Projections (SEP) showed stronger real GDP growth outlook and higher core inflation projections for 2024 on resilient labor market and consumer data. The median projection for Federal Funds rate by year-end remained the same at 4.625%, implying three 0.25% cuts. We continue to believe the FOMC will loosen monetary policy in mid-2024 as inflation and economic growth continue to moderate.
The US Treasury yield curve stabilized in March as the FOMC left the Federal Funds rate unchanged. The 2-year Treasury yield was unchanged at 4.62%, the 5-year Treasury fell 4 basis points to 4.21%, and the 10-year Treasury yield dropped 5 basis points to 4.20%. The inversion between the 2-year Treasury yield and 10-year Treasury yield widened to -42 basis points at March month-end versus -37 basis points at February month-end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was -56 basis points. The inversion between 3-month and 10-year Treasuries widened to -117 basis points in March from -113 basis points in February. 3 Employment
-400
-200
0 200
400
600
800
1,000 MOM Change In Thousands (000's)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3-month average (000's)
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
The U.S. economy added a better-than-expected 303,000 jobs in March, and the prior two months were revised upby 22,000. Leading sectors included healthcare and government. Job creation remains healthy, with the three-month moving average payrolls at 276,000 and the six-month moving average at 244,000. The unemployment rate edged down to 3.8% in March. The labor participation rate ticked up to
62.7% but remained 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 was unchanged at 7.3%. Average hourly earnings rose 4.1% yearover-year in March, down from 4.3% last month. Employment remains strong by historical standards.
Source: US Department of Labor Source: US Department of Labor 4 Job Openings & Labor Turnover Survey
0 2,000
4,000
6,000
8,000
10,000
12,000
14,000
Job Openings
Recession
Historical Average In Thousands (000's)
The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) edged up to 8.756 million in February compared to a downwardly revised 8.748 million in January. Job openings still represent a healthy ratio of around 1.4 jobs for each unemployed individual. While the current level of job openings remains elevated from a historical perspective, the trend is decelerating.
Source: US Department of Labor
5 Inflation
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YOY (%) Change
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Core Deflator YOY % Change
Fed Target
YOY (%) Change
The Consumer Price Index (CPI) came in higher than expected in February, increasing 0.4% month-over-month and 3.2% year-over-year.
The Core CPI, which excludes volatile food and energy components, was up 0.4% month-over-month and 3.8% year-over-year in February, falling from 3.9% last month. Shelter costs remain elevated, accounting for about two-thirds of the year-over-year increase. The Personal Consumption Expenditures (PCE) Index headline inflation increased 0.3% month-over-month and rose 2.5% year-over-year in February, in line with expectations. Core PCE, the Federal Reserve’s preferred inflation gauge, increased 0.3% month-over-month and rose 2.8% yearover-year. While the trend is moderating, the path to the Fed's 2% inflation target remains uneven.
Source: US Department of Labor Source: US Department of Commerce 6 Consumer
-30.0%
-20.0%
-10.0%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
Retail Sales YOY % Change
YOY (%) Change
February Retail Sales fell short of expectations but rebounded 0.6% month-over-month from a downwardly revised 1.1% decline last month. On a year-over-year basis, Retail Sales growth increased just 1.5% for February. Sales got a boost in the month from building materials and garden equipment stores, motor vehicles, and higher prices at the pump. Control-group sales, which are used to calculate gross domestic product, were unchanged in February after falling in the prior month, suggesting weaker economic activity in the first quarter. The Conference Board’s Consumer Confidence Index edged down to 104.7 in March after a sizeable downward revision to 104.8 in February. The lower reading was largely due to a deteriorating view of the labor market and future business conditions, along with concerns about the highly polarized political environment. While the consumer has been resilient, dwindling excess savings, rising credit card balances, and the resumption of student loan payments pose potential headwinds to future economic growth. 0 20
40 60
80 100
120
140
160
Index Level
Consumer Confidence
Recession
Source: US Department of Commerce Source: The Conference Board All time high is 144.70 (1/31/00); All time low is 25.30 (2/28/09) 7 Leading Indicators of Economic Activity
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
Leading Economic Indicators (LEI)
Recession
YOY (%) Change
-1.00
-0.75
-0.50
-0.25
0.00 0.25
0.50 0.75
1.00 Chicago Fed National Activity Index (CFNAI)
Recession
3 Month Average
The Conference Board’s Leading Economic Index (LEI) rose to 0.1% month-over-month in February ending its 2-year uninterrupted contraction since February 2022. The index declined 6.3% year-over-year. The Conference Board is no longer calling for recession but expects GDP growth to slow to near zero this year. The Chicago Fed National Activity Index (CFNAI) increased +0.05 in February from a downwardly revised -0.54 in January. On a 3-month moving average basis, the CFNAI decreased to -0.18 in February from -0.11 in January, indicating moderating economic growth.
Source: The Conference Board Source: Federal Reserve Bank of Chicago 8 Housing
0 200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
In Thousands of Units
Annualized Housing Starts
Multi Family Housing Starts
Single Family Housing Starts
Housing Starts increased 10.7% month-over-month in February to 1.521 million units, due to milder weather than seen in January and some rising confidence among homebuilders as mortgage rates fell below 7%. Starts for multi-family homes increased 8.6%, while single family homes increased 11.6% for the month. Total starts of new single-family homes are up 35.2% year-over-year. According to Freddie Mac, 30-year fixed mortgage rates averaged 6.79% as of March 31st. According to the Case-Shiller 20-City Home Price Index, housing prices rose 6.59% year-over-year in January, accelerating from a 6.15% year-over-year gain in December. Tight inventories and higher mortgage rates continue to impact affordability.
Source: US Department of Commerce Source: S&P
-20.0%
-16.0%
-12.0%
-8.0%
-4.0%
0.0%
4.0%
8.0%
12.0%
16.0%
20.0%
24.0%
S&P/Case-Shiller 20 City Composite Home Price Index
Recession
YOY (%) Change
9 Survey Based Measures
40 45
50 55
60 65
70 Institute of Supply Management (ISM) Surveys
ISM Manufacturing ISM Services
EXPANDING
CONTRACTING
The Institute for Supply Management (ISM) Manufacturing index unexpectedly expanded to 50.3 in March from 47.8 in February, marking the first month of expansion in factory activity above a reading of 50 since 2022. Production and new orders surged, while employment improved and prices paid increased. The ISM Services Index fell to 51.4 in March from 52.6 in February but remained in expansion territory for the 15th consecutive month. The survey reflected slower growth in new orders, a contraction in employment, faster supplier deliveries, and declining price pressures.
Source: Institute for Supply Management
10 Gross Domestic Product (GDP)
Components of GDP 3/23 6/23 9/23 12/23
2.5% 0.6% 2.1% 2.2%
-1.7% 0.9% 1.7% 0.2%
0.6% 0.0% 0.0% 0.3%
0.3% 0.1% 0.5% 0.2%
0.5% 0.5% 0.5% 0.6%
2.3% 2.1% 4.9% 3.4%
Personal Consumption Expenditures
Gross Private Domestic Investment
Net Exports and Imports
Federal Government Expenditures
Total
State and Local (Consumption and Gross
Investment) -40.0%
-30.0%
-20.0%
-10.0%
0.0%
10.0%
20.0%
30.0%
40.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
Source: US Department of Commerce Source: US Department of Commerce According to the third estimate, fourth quarter GDP increased at an annualized rate of 3.4%, revised up from the second estimate of 3.2%.
The upward revision was due mainly to stronger personal consumption expenditures and nonresidential investment. GDP growth for the full year 2023 is estimated at 2.5%. The consensus projection calls for 2.0% growth in the first quarter and 2.2% growth for the full year 2024.
11 Federal Reserve
Source: Federal Reserve Source: Bloomberg
0 1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
Recession
In $ millions
As expected at the March meeting, the Federal Open Market Committee voted unanimously to leave the federal funds rate unchanged at a target range of 5.25-5.50%. The FOMC Statement and Summary of Economic Projections (SEP) was minimally changed from January. The Fed assesses the progress to achieving its employment and inflation goals are moving into better balance, yet changes to monetary policy remain data dependent. For 2024, the March SEP showed stronger real GDP growth outlook of 2.1% from 1.4% in December as labor market and consumer data have been resilient. Core inflation projections nudged up from 2.4% to 2.6%. The median projection for the Federal Funds rate by the end of the year remained the same at 4.625%, implying three 0.25% cuts in 2024, three cuts in 2025 and three cuts in 2026. We believe the FOMC will loosen monetary policy in mid-2024 as inflation and economic growth continue to moderate. Since the Fed began its Quantitative Tightening campaign in June 2022, securities holdings have declined by over $1.5T to approximately $7.5T.
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Effective Federal Funds Rate
Recession
Yield (%)
12 Bond Yields
Source: Bloomberg Source: Bloomberg
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Yield (%)
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
US Treasury Yield Curve
Mar-24
Dec-23
Mar-23
Yield (%)
At the end of March, the 2-year Treasury yield was 59 basis point higher, and the 10-Year Treasury yield was 73 basis points higher, yearover-year. The inversion between the 2-year Treasury yield and 10-year Treasury yield widened to -42 basis points at March month-end versus -37 basis points at February month-end. The average historical spread (since 2003) is about +130 basis points. The inversion between 3-month and 10-year Treasuries widened to -117 basis points in March from -113 basis points in February. 13 Section 2| SECTION | Section 2 | Account Profile
14 Objectives
Chandler Asset Management Performance Objective
The performance objective for the portfolio is to achieve a rate of return over a market cycle that equals or exceeds the return on a market index of similar duration and sector allocation.
Investment Objectives
The City of Murrieta's investment objectives, in order of priority, are to provide safety to ensure the preservation of capital in the overall portfolio, provide sufficient liquidity for cash needs and a market rate of return consistent with the investment program.
Strategy
In order to achieve these objectives, the portfolio invests in high quality fixed income securities consistent with the investment policy and California Government Code.
As of March 31, 2024
15 Compliance As of March 31, 2024
Category Standard Comment
U.S. Treasuries No limit; 5 years max maturity Complies Federal Agencies 30% max per Agency/GSE issuer; 20% max agency callable securities; 5 years max maturity Complies Municipal Securities (CA, Other States) "A" rating category or better by a NRSRO; 30% max; 5% max per issuer; 5 years max maturity Complies Supranational Obligations
"AA" rating category or higher by a NRSRO; 30% max; 10% max per issuer; 5 years max maturity; USD denominated senior unsecured unsubordinated obligations; Issued or unconditionally guaranteed by IBRD, IFC, or IADB Complies Corporate Medium Term Notes
"A" rating category or higher by a NRSRO; 30% max; 5% max per issuer in Medium Term Notes and Commercial Paper; 5 years max maturity; Issued by corporations organized and operating within the U.S. or by depository institutions licensed by the U.S. or any state and operating within the U.S.
Complies
Asset-Backed Securities, MortgageBacked Securities, Collateralized Mortgage Obligations, Pass-Through
Securities
"AA" rating category or higher by a NRSRO; 20% max (total aggregate in mortgage-backed and asset-backed securities); 5% max per issuer that is not a U.S. government agency; Mortgage-Backed Securities, Collateralized Mortgage Obligations and Asset-Backed Securities limited to mortgage-backed pass-through securities issued by a U.S. government agency or consumer receivable pass-through certificates or bonds; 5 years max maturity Complies
Negotiable Certificates of Deposit
(NCD)
The amount of NCD insured up to the FDIC limit does not require any credit ratings; Any amount above FDIC insured limit must be issued by institutions with "A-1" short-term debt rating or better by a NRSRO; or "A" long-term rating category or better by a NRSRO; 30% max (combined with CDARS); 5% max per issuer; 5 years max maturity Complies
Certificate of Deposit Placement
Service (CDARS) 30% max (combination of Certificates of Deposit, including CDARS); 5 years max maturity Complies Time Deposits (Non-negotiable CD/TD) 20% max combined FDIC & Collateralized CD/TD; 5 years max maturity Complies Collateralized Bank Deposits Deposits with financial institutions will be collateralized with pledged securities per California Government Code Complies Banker’s Acceptances
"A-1" rated or higher by a NRSRO; "A" rating category or higher by a NRSRO, if issuers have senior debt outstanding; 30% max; 5% max in bankers acceptance of any one commercial bank; 180 days max maturity; Issued by FDIC insured commercial banks.
Complies
Commercial Paper
25% max; 40% max if the Agency’s investment assets under management are greater than $100 million, under a provision sunsetting on January 1, 2026; 5% max per issuer in Commercial Paper and Medium Term Notes; 270 days maturity; Prime Commercial Paper with the highest rating by a NRSRO; The entity that issues the commercial paper shall meet all of the conditions in either 1) or 2): 1) (a) be organized and operating in the U.S. as a general corporation, (b) have total assets in excess of $500 million, and (c) have debt other than commercial paper, if any, that has "A" rating category or higher by a NRSRO; 2) (a) be organized within the U.S. as a special purpose corporation, trust, or limited liability company; (b) have program-wide credit enhancements including, but not limited to, overcollateralization, letters of credit, or surety bond; and (c) have commercial paper that has "A-1" rating category or higher by a NRSRO.
Complies
Murrieta Consolidated
Assets managed by Chandler Asset Management are in full compliance with state law and the Client's investment policy. 16 Compliance As of March 31, 2024
Category Standard Comment
Money Market Funds
"AAA" rating category by two NRSROs; 20% max (aggregate investment in combination of Money Market Funds and Mutual Funds); Investment in any individual fund may not exceed 10% of the fund; Registered under the Investment Company Act of 1940; "no load"; constant net asset value per share $1; invest only in securities authorized by California statute.
Complies
Mutual Funds
"AAA" rating category by two NRSROs; 20% max (aggregate investment in combination of Mutual Funds and Money Market Funds); Investment in any individual Mutual Fund shall not exceed 10% of the portfolio; Investment in any individual fund may not exceed 10% of the fund; Registered under the Investment Company Act of 1940; "no load"; invest only in securities authorized by California statute.
Complies
Local Agency Investment Fund (LAIF) Maximum amount permitted by LAIF, pursuant to California Government Code; Not used by investment adviser Complies Repurchase Agreements 20% max; 1 year max maturity; 102% collateralized; Not used by investment adviser Complies Max Per Issuer 5% max per issuer for all non-federal government securities, with the exception of Money Market Funds, Mutual Funds, Supranationals, LAIF, or unless otherwise specified in the investment policy Complies
Maximum Maturity 5 years max maturity, unless the City Council has by resolution granted authority to make such an investment at least 3 months prior to the date of the investment
Complies
Murrieta Consolidated
Assets managed by Chandler Asset Management are in full compliance with state law and the Client's investment policy. 17 Portfolio Characteristics
City of Murrieta
03/31/24 12/31/23
Benchmark* Portfolio Portfolio
Average Maturity (yrs) 1.85 2.01 2.01
Average Modified Duration 1.76 1.80 1.78
Average Purchase Yield n/a 3.28% 2.92%
Average Market Yield 4.72% 4.92% 4.62%
Average Quality** AA+ AA AA/Aa1
Total Market Value 133,134,162 132,457,325
*ICE BofA 1-3 Yr US Treasury Index
**Benchmark is a blended rating of S&P, Moody’s, and Fitch. Portfolio is S&P and Moody’s respectively.
As of March 31, 2024
18 City of Murrieta
Sector Distribution
Agency
21.4%
Asset Backed
Security
5.3%
Corporate
25.4%
Money Market
Fund
1.0%
Supranational
1.5%
US Treasury
39.1%
Agency CMBS
6.1%
Cash
0.1%
March 31, 2024
As of March 31, 2024
ABS
4.7%
Agency
20.7%
CMO
6.1%
Corporate
24.6%
Money Market
Fund
0.1%
Supranational
1.5%
US Treasury
42.3%
December 31, 2023
19 Issue Name Investment Type % Portfolio
United States Government US Treasury 39.09%
Federal Home Loan Bank Agency 12.59%
Federal Farm Credit Bank Agency 7.34%
Federal Home Loan Mortgage Corp Agency CMBS 6.09%
Royal Bank of Canada Corporate 1.67%
Federal National Mortgage Association Agency 1.50%
Bank of America Corp Corporate 1.49%
Caterpillar Inc Corporate 1.38%
Honda ABS Asset Backed Security 1.36%
Deere & Company Corporate 1.32%
Paccar Financial Corporate 1.28%
JP Morgan Chase & Co Corporate 1.21%
Inter-American Dev Bank Supranational 1.16%
State Street Bank Corporate 1.16%
Cisco Systems Corporate 1.13%
Nextera Energy Capital Corporate 1.13%
Air Products & Chemicals Corporate 1.04%
First American Govt Obligation Fund Class-Z Money Market Fund 1.00% JP Morgan ABS Asset Backed Security 1.00%
Amazon.com Inc Corporate 0.92%
Toyota Motor Corp Corporate 0.85%
National Rural Utilities Corporate 0.82%
Metlife Inc Corporate 0.77%
Morgan Stanley Corporate 0.75%
Toronto Dominion Holdings Corporate 0.75%
US Bancorp Corporate 0.75%
Northern Trust Corp Corporate 0.74%
Home Depot Corporate 0.74%
Chubb Corporation Corporate 0.74%
Duke Energy Field Services Corporate 0.74%
Apple Inc Corporate 0.73%
Honeywell Corp Corporate 0.72%
Bank of New York Corporate 0.67%
American Express ABS Asset Backed Security 0.67%
John Deere ABS Asset Backed Security 0.65%
Mass Mutual Insurance Corporate 0.57%
GM Financial Automobile Leasing Trust Asset Backed Security 0.55% Public Service El & Gas Corporate 0.55%
Issuers
City of Murrieta – Account
As of March 31, 2024
20 Issue Name Investment Type % Portfolio
GM Financial Securitized Term Auto Trust Asset Backed Security 0.45% Pepsico Inc Corporate 0.39%
Intl Bank Recon and Development Supranational 0.37%
United Health Group Inc Corporate 0.32%
Hyundai Auto Receivables Asset Backed Security 0.26%
BMW ABS Asset Backed Security 0.21%
Salesforce.com Inc Corporate 0.15%
Account Receivable Payable Cash 0.12%
BMW Vehicle Lease Trust Asset Backed Security 0.12%
Toyota ABS Asset Backed Security 0.05%
TOTAL 100.00%
Issuers
City of Murrieta – Account
As of March 31, 2024
21 0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
0 - 0.25 0.25 - 0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+ March 31, 2024 December 31, 2023
March 31, 2024 vs. December 31, 2023
0 - 0.25 0.25 - 0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+ 03/31/24 8.9% 5.3% 11.6% 28.6% 31.6% 12.5% 1.5% 0.0%
12/31/23 10.9% 7.3% 11.5% 27.6% 25.8% 12.5% 4.3% 0.0%
City of Murrieta
Duration Distribution As of March 31, 2024
22 Total Rate of Return Annualized Since Inception January 31, 2020 Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending value; it includes interest earnings, realized and unrealized gains and losses in the portfolio.
Investment Performance
City of Murrieta
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
12 months 2 years 3 years 5 years 10 years Since Inception City of Murrieta ICE BofA 1-3 Yr US Treasury Index
Annualized
TOTAL RATE OF RETURN 3 months 12 months 2 years 3 years 5 years 10 years Since Inception
City of Murrieta 0.50% 3.89% 2.14% 0.53% N/A N/A 1.01%
ICE BofA 1-3 Yr US Treasury Index 0.30% 2.97% 1.57% 0.08% N/A N/A 0.65% As of March 31, 2024
23 Portfolio Characteristics
Murrieta Liquidity
03/31/24
Portfolio
12/31/23
Portfolio
Average Maturity (yrs) 0.22 0.29
Modified Duration 0.22 0.28
Average Purchase Yield 5.58% 5.70%
Average Market Yield 5.33% 5.56%
Average Quality* AAA AAA/Aaa
Total Market Value 11,344,995 11,198,702
*Portfolio is S&P and Moody’s, respectively.
As of March 31, 2024
24 Murrieta Liquidity
Sector Distribution
Commercial
Paper
35.3%
Money Market
Fund
Negotiable CD 0.9%
17.8%
US Treasury
46.0%
March 31, 2024
As of March 31, 2024
Commercial
Paper
35.0%
Money Market
Fund
Negotiable CD 2.3%
18.3%
US Treasury
44.4%
December 31, 2023
25 Issue Name Investment Type % Portfolio
US Treasury US Treasury 45.72%
Cooperatieve Rabobank UA Negotiable CD 18.27%
MUFG Bank Ltd/NY Commercial Paper 17.59%
Toyota Motor Corp Commercial Paper 17.49%
First American Govt Obligation Fund Class-Z Money Market Fund 0.94% Account Receivable Payable Cash 0.00%
TOTAL 100.00%
Issuers
Murrieta Liquidity – Account
As of March 31, 2024
26 0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
50.0%
55.0%
60.0%
65.0%
0 - 0.25 0.25 - 0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+ March 31, 2024 December 31, 2023
March 31, 2024 vs. December 31, 2023
0 - 0.25 0.25 - 0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+ 03/31/24 57.8% 42.2% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
12/31/23 46.7% 35.0% 18.3% 0.0% 0.0% 0.0% 0.0% 0.0%
Murrieta Liquidity
Duration Distribution As of March 31, 2024
27 0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3 months Since Inception
Murrieta Liquidity
Total Rate of Return Since Inception October 31, 2023
TOTAL RATE OF RETURN Latest 3 months Since Inception
Murrieta Liquidity 1.26% 2.28%
Investment Performance
Murrieta Liquidity
Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending value; it includes interest earnings, realized and unrealized gains and losses in the portfolio.
As of March 31, 2024
28 SECTION | Section 3 | Consolidated Information
29 Portfolio Characteristics
Murrieta Consolidated
03/31/24 12/31/23
Portfolio Portfolio
Average Maturity (yrs) 1.87 1.87
Modified Duration 1.67 1.66
Average Purchase Yield 3.46% 3.13%
Average Market Yield 4.95% 4.69%
Average Quality* AA+ AA/Aa1
Total Market Value 144,479,157 143,656,027
* Portfolio is S&P and Moody’s respectively.
As of March 31, 2024
30 Murrieta Consolidated
Sector Distribution
Agency
19.8%
Asset Backed
Security
4.9%
Commercial
Paper
2.8%
Corporate
23.5%
Money Market
Fund
1.0%
Negotiable CD
1.4%
Supranational
1.4%
US Treasury
39.6%
Agency CMBS
5.6%
Cash
0.1%
March 31, 2024
As of March 31, 2024
ABS
4.3%
Agency
19.1%
CMO
5.7%
Commercial
Paper
2.7%
Corporate
22.7%
Money Market
Fund
0.2%
Negotiable CD
1.4%
Supranational
1.4%
US Treasury
42.5%
December 31, 2023
31 SECTION | Section 4 | Portfolio Holdings
32 HOLDINGS REPORT
City ofMurrieta | Account | AsofMarch 31,2024
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
43813GAC5 HAROT 2021-1 A3 0.27 04/21/2025 16,312.45 02/17/2021 16,312.15 99.43 16,219.17 0.01% Aaa/NA 1.06
0.27% 16,312.15 4.70% 1.22 (92.98) AAA 0.15
89240BAC2 TAOT 2021-A A3 0.26 05/15/2025 64,146.68 02/02/2021 64,134.77 99.49 63,819.71 0.05% Aaa/NA 1.12
0.26% 64,134.77 4.63% 7.41 (315.06) AAA 0.14
02582JJT8 AMXCA 2022-2 A 05/17/2027 905,000.00 05/17/2022 904,799.81 97.93 886,303.42 0.67% NA/AAA 1.12
3.40% 904,799.81 5.33% 1,363.53 (18,496.39) AAA 1.60
47788UAC6 JDOT 2021 A3 0.36 09/15/2025 64,220.17 03/02/2021 64,207.83 98.74 63,413.45 0.05% Aaa/NA 1.46
0.36% 64,207.83 5.84% 10.28 (794.38) AAA 0.28
44933LAC7 HART 2021-A A3 0.38 09/15/2025 67,804.84 04/20/2021 67,797.71 99.18 67,249.20 0.05% NA/AAA 1.46
0.38% 67,797.71 5.26% 11.45 (548.51) AAA 0.24
05593AAC3 BMWLT 2023-1 A3 5.16 11/25/2025 155,000.00 02/07/2023 154,996.31 99.76 154,635.58 0.12% Aaa/AAA 1.65
5.16% 154,996.31 5.64% 133.30 (360.73) NA 0.64
44934KAC8 HART 2021-B A3 0.38 01/15/2026 282,583.19 07/20/2021 282,520.82 98.47 278,253.22 0.21% NA/AAA 1.79
0.38% 282,520.82 5.90% 47.73 (4,267.60) AAA 0.46
43815GAC3 HAROT 2021-4 A3 0.88 01/21/2026 179,304.98 11/16/2021 179,267.19 97.56 174,935.27 0.13% Aaa/NA 1.81
0.89% 179,267.19 5.98% 43.83 (4,331.92) AAA 0.67
47789QAC4 JDOT 2021-B A3 0.52 03/16/2026 185,900.88 07/13/2021 185,884.30 97.64 181,522.50 0.14% Aaa/NA 1.96
0.52% 185,884.30 5.58% 42.96 (4,361.79) AAA 0.53
43815PAC3 HAROT 2022-2 A3 3.73 07/20/2026 365,000.00 08/15/2022 364,978.25 98.60 359,894.74 0.27% NA/AAA 2.30
3.73% 364,978.25 5.78% 491.63 (5,083.50) AAA 1.02
05602RAD3 BMWOT 2022-A A3 3.21 277,989.33 05/10/2022 277,974.88 98.48 273,774.74 0.21% Aaa/AAA 2.40 08/25/2026 3.21% 277,974.88 5.71% 148.72 (4,200.14) NA 0.93 47787JAC2 JDOT 2022 A3 0.36 09/15/2026 284,683.38 03/10/2022 284,620.41 97.90 278,705.77 0.21% Aaa/NA 2.46
2.33% 284,620.41 5.74% 293.54 (5,914.64) AAA 0.77
362554AC1 GMCAR 2021-4 A3 0.68 09/16/2026 146,053.32 10/13/2021 146,049.60 97.10 141,822.88 0.11% Aaa/AAA 2.46
0.68% 146,049.60 6.58% 41.38 (4,226.71) NA 0.85
380146AC4 GMCAR 2022-1 A3 1.23 11/16/2026 147,623.81 01/11/2022 147,610.98 97.54 143,994.71 0.11% NA/AAA 2.63
1.26% 147,610.98 6.28% 77.50 (3,616.27) AAA 0.90
379929AD4 GMALT 2023-3 A3 5.38 11/20/2026 280,000.00 08/08/2023 279,966.43 100.09 280,258.61 0.21% NA/AAA 2.64
5.38% 279,966.43 5.60% 460.29 292.18 AAA 1.47
36269FAD8 GMALT 2024-1 A3 5.09 03/22/2027 455,000.00 02/08/2024 454,943.13 99.93 454,699.84 0.34% NA/AAA 2.97
5.09% 454,943.13 5.49% 707.65 (243.29) AAA 1.90
36265WAD5 GMCAR 2022-3 A3 3.64 04/16/2027 320,000.00 07/06/2022 319,997.79 98.40 314,875.04 0.24% Aaa/NA 3.04
3.64% 319,997.79 5.79% 485.33 (5,122.75) AAA 1.32
33 HOLDINGS REPORT
City ofMurrieta | Account | AsofMarch 31,2024
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
437918AC9 HAROT 2024-1 A3 5.21 08/15/2028 1,250,000.00 02/13/2024 1,249,945.63 100.42 1,255,190.12 0.95% Aaa/AAA 4.38
5.21% 1,249,945.63 5.42% 2,894.44 5,244.50 NA 2.71
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 1,320,000.00 09/07/2023 1,319,634.10 100.51 1,326,727.91 1.00% NR/AAA 4.46
5.17% 1,319,634.10 5.33% 3,027.20 7,093.81 AAA 2.26
47800RAD5 JDOT 2024 A3 4.96 11/15/2028 335,000.00 03/11/2024 334,981.24 99.98 334,947.17 0.25% Aaa/NA 4.63
4.96% 334,981.24 5.41% 553.87 (34.07) AAA 2.28
7,100,623.32 99.30 7,051,243.06 5.33% Aaa/AAA 3.07
Total ABS 7,101,623.03 3.89% 7,100,623.32 5.54% 10,843.28 (49,380.27) AAA 1.68 AGENCY
3130A1XJ2 FEDERAL HOME LOAN BANKS 2.875 2,000,000.00 09/13/2019 2,101,140.00 99.52 1,990,369.04 1.50% Aaa/AA+ 0.21 06/14/2024 1.76% 2,101,140.00 5.23% 17,090.28 (110,770.96) AA+ 0.21 3135G0V75 FEDERAL NATIONAL MORTGAGE 2,000,000.00 10/21/2019 2,007,660.00 99.09 1,981,761.78 1.50% Aaa/AA+ 0.25 ASSOCIATION 1.75 07/02/2024 1.66% 2,007,660.00 5.38% 8,652.78 (25,898.22) AA+ 0.25 3130AQF40 FEDERAL HOME LOAN BANKS 1.0 1,400,000.00 12/21/2021 1,398,768.00 97.04 1,358,512.81 1.03% Aaa/AA+ 0.72 12/20/2024 1.03% 1,398,768.00 5.25% 3,927.78 (40,255.19) AA+ 0.70 3133ENKS8 FEDERAL FARM CREDIT BANKS 755,000.00 01/06/2022 753,301.25 96.99 732,254.09 0.55% Aaa/AA+ 0.77 FUNDING CORP 1.125 01/06/2025 1.20% 753,301.25 5.20% 2,005.47 (21,047.16) AA+ 0.75 3133ENPG9 FEDERAL FARM CREDIT BANKS 1,200,000.00 02/25/2022 1,197,456.00 97.17 1,166,026.18 0.88% Aaa/AA+ 0.88 FUNDING CORP 1.75 02/14/2025 1.82% 1,197,456.00 5.12% 2,741.67 (31,429.82) AA+ 0.85 3133EPW68 FEDERAL FARM CREDIT BANKS 1,400,000.00 01/24/2024 1,392,860.00 98.97 1,385,522.71 1.05% Aaa/AA+ 1.81 FUNDING CORP 4.125 01/22/2026 4.40% 1,392,860.00 4.73% 11,068.75 (7,337.29) AA+ 1.71 3130AWLZ1 FEDERAL HOME LOAN BANKS 4.75 2,000,000.00 08/16/2023 1,998,620.00 100.29 2,005,793.10 1.51% Aaa/AA+ 2.20 06/12/2026 4.78% 1,998,620.00 4.61% 28,763.89 7,173.10 AA+ 2.04 3133EPZY4 FEDERAL FARM CREDIT BANKS 2,000,000.00 11/09/2023 2,007,480.00 100.86 2,017,124.24 1.52% Aaa/AA+ 2.33 FUNDING CORP 5.0 07/30/2026 4.85% 2,007,480.00 4.61% 16,944.44 9,644.24 AA+ 2.17 3133EPSW6 FEDERAL FARM CREDIT BANKS 2,405,000.00 08/09/2023 2,399,468.50 99.94 2,403,486.53 1.82% Aaa/AA+ 2.37 FUNDING CORP 4.5 08/14/2026 4.58% 2,399,468.50 4.53% 14,129.38 4,018.03 AA+ 2.22 3130AWTQ3 FEDERAL HOME LOAN BANKS 4.625 4,500,000.00 -- 4,476,030.00 100.16 4,507,384.14 3.40% Aaa/AA+ 2.45 09/11/2026 4.81% 4,476,030.00 4.55% 11,562.50 31,354.14 AA+ 2.29 3130AXU63 FEDERAL HOME LOAN BANKS 4.625 1,750,000.00 11/30/2023 1,754,427.50 100.26 1,754,500.40 1.33% Aaa/AA+ 2.63 11/17/2026 4.53% 1,754,427.50 4.52% 30,126.74 72.90 AA+ 2.42 3130AYPN0 FEDERAL HOME LOAN BANKS 4.125 2,000,000.00 01/30/2024 1,995,560.00 99.17 1,983,467.28 1.50% Aaa/AA+ 2.79 01/15/2027 4.21% 1,995,560.00 4.44% 14,208.33 (12,092.72) AA+ 2.59 3130AVVX7 FEDERAL HOME LOAN BANKS 3.75 1,120,000.00 06/07/2023 1,107,243.20 97.70 1,094,275.66 0.83% Aaa/AA+ 4.19 06/09/2028 4.00% 1,107,243.20 4.35% 13,066.67 (12,967.54) AA+ 3.79 34 HOLDINGS REPORT
City ofMurrieta | Account | AsofMarch 31,2024
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
3130AWC24 FEDERAL HOME LOAN BANKS 4.0 2,000,000.00 07/06/2023 1,956,940.00 98.77 1,975,473.06 1.49% Aaa/AA+ 4.19 06/09/2028 4.49% 1,956,940.00 4.32% 24,888.89 18,533.06 AA+ 3.77 3133EPWK7 FEDERAL FARM CREDIT BANKS 2,000,000.00 10/12/2023 1,981,460.00 100.80 2,015,962.96 1.52% Aaa/AA+ 4.48 FUNDING CORP 4.5 09/22/2028 4.71% 1,981,460.00 4.30% 2,250.00 34,502.96 AA+ 4.02 28,528,414.45 99.46 28,371,913.99 21.43% Aaa/AA+ 2.25
Total Agency 28,530,000.00 3.82% 28,528,414.45 4.69% 201,427.55 (156,500.47) AA+ 2.08
AGENCY CMBS
3137BM7C4 FHMS K-051 A2 3.308 09/25/2025 1,223,000.00 06/23/2022 1,220,420.23 97.51 1,192,516.48 0.90% Aaa/AA+ 1.49
3.30% 1,220,420.23 5.26% 3,371.40 (27,903.75) AAA 1.29
3137BSP72 FHMS K-058 A2 2.653 08/25/2026 2,000,000.00 02/09/2023 1,890,546.88 95.21 1,904,185.20 1.44% Aaa/AA+ 2.40
4.27% 1,890,546.88 5.11% 4,421.67 13,638.32 AAA 2.24
3137BTUM1 FHMS K-061 A2 3.347 11/25/2026 893,365.47 09/22/2022 861,295.05 96.22 859,560.88 0.65% Aaa/AA+ 2.65
4.23% 861,295.05 5.12% 2,491.75 (1,734.17) AAA 2.34
3137BVZ82 FHMS K-063 A2 3.43 01/25/2027 862,000.00 -- 839,600.51 96.65 833,137.57 0.63% Aaa/AA+ 2.82
4.03% 839,600.51 5.08% 2,463.88 (6,462.94) AAA 2.50
3137F1G44 FHMS K-065 A2 3.243 04/25/2027 1,000,000.00 09/19/2022 965,468.75 95.93 959,345.20 0.72% Aaa/AA+ 3.07
4.02% 965,468.75 5.04% 2,702.50 (6,123.55) AAA 2.78
3137FBU79 FHMS K-069 A2 3.187 09/25/2027 1,250,000.00 05/18/2023 1,200,732.43 95.40 1,192,462.00 0.90% Aaa/AAA 3.49
4.13% 1,200,732.43 5.02% 3,319.79 (8,270.43) AA+ 3.11
3137F4X72 FHMS K-075 A2 3.65 02/25/2028 1,165,000.00 09/14/2023 1,107,478.13 96.44 1,123,468.22 0.85% Aaa/AA+ 3.91
4.83% 1,107,478.13 5.04% 3,543.54 15,990.09 AAA 3.52
Total Agency 8,085,541.98 96.09 8,064,675.54 6.09% Aaa/AA+ 2.79 CMBS 8,393,365.47 4.12% 8,085,541.98 5.10% 22,314.53 (20,866.44) AAA 2.51 CASH
CCYUSD Receivable 155,271.55 -- 155,271.55 1.00 155,271.55 0.12% Aaa/AAA 0.00
0.00% 155,271.55 0.00% 0.00 0.00 AAA 0.00
155,271.55 1.00 155,271.55 0.12% Aaa/AAA 0.00
Total Cash 155,271.55 0.00% 155,271.55 0.00% 0.00 0.00 AAA 0.00
CORPORATE
023135BW5 AMAZON.COM INC 0.45 05/12/2024 805,000.00 05/10/2021 803,824.70 99.41 800,243.60 0.60% A1/AA 0.11
0.50% 803,824.70 5.66% 1,398.69 (3,581.10) AA- 0.12
91324PEB4 UNITEDHEALTH GROUP INC 0.55 425,000.00 11/08/2021 422,560.50 99.41 422,497.19 0.32% A2/A+ 0.12 05/15/2024 0.78% 422,560.50 5.39% 883.06 (63.31) A 0.13 35 HOLDINGS REPORT
City ofMurrieta | Account | AsofMarch 31,2024
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
24422EVQ9 JOHN DEERE CAPITAL CORP 0.45
06/07/2024 760,000.00 06/07/20210.49%
759,050.00
759,050.00
99.08 5.50%
753,026.55
1,083.00
0.57%
(6,023.45)
A1/A
A+
0.19 0.19
06051GJY6 BANK OF AMERICA CORP 5.73449
06/14/2024 960,000.00 06/07/20210.52%
960,064.00
960,064.00
100.02
5.61%
960,149.49
2,752.56
0.73%
85.49 A1/AAA0.21
0.01 89236TJH9 TOYOTA MOTOR CREDIT CORP 0.5
06/18/2024 1,140,000.00 06/15/20210.54%
1,138,643.40
1,138,643.40
98.91 5.66%
1,127,542.15
1,630.83
0.85%
(11,101.25)
A1/A+
A+
0.22 0.22
79466LAG9 SALESFORCE INC 0.625 07/15/2024 200,000.00 06/29/2021
0.64%
199,898.00
199,898.00
98.61 5.50%
197,224.50
263.89
0.15%
(2,673.50)
A1/A+
NA
0.29 0.29
91159HHX1 US BANCORP 2.4 07/30/2024 1,000,000.00 11/09/2021
0.80%
1,041,550.00
1,041,550.00
98.94 5.61%
989,424.53
4,066.67
0.75%
(52,125.47)
A3/A
A
0.33 0.33
69371RR40 PACCAR FINANCIAL CORP 0.5
08/09/2024 245,000.00 08/03/20210.52%
244,867.70
244,867.70
98.22 5.61%
240,629.87
176.94
0.18%
(4,237.83)
A1/A+
NA
0.36 0.35
78016EYM3 ROYAL BANK OF CANADA 1.6
01/21/2025 1,000,000.00 01/12/20221.60%
1,000,000.00
1,000,000.00
97.00 5.46%
969,974.54
3,111.11
0.73%
(30,025.46)
A1/A
AA0.810.78
06406RBC0 BANK OF NEW YORK MELLON CORP
3.35 04/25/2025 900,000.00 04/19/20223.35%
899,874.00
899,874.00
97.99 5.32%
881,867.17
13,065.00
0.67%
(18,006.83)
A1/A
AA1.071.02
14913R2V8 CATERPILLAR FINANCIAL SERVICES
CORP 3.4 05/13/2025 480,000.00 05/10/20223.44%
479,390.40
479,390.40
98.08 5.19%
470,778.30
6,256.00
0.36%
(8,612.10)
A2/A
A+
1.12 1.07
438516CB0 HONEYWELL INTERNATIONAL INC
1.35 06/01/2025 1,000,000.00 03/09/20222.31%
970,280.00
970,280.00
95.83 5.07%
958,308.89
4,500.00
0.72%
(11,971.11)
A2/A
A
1.17 1.13
89115A2A9 TORONTO-DOMINION BANK 3.766
06/06/2025 1,000,000.00 06/02/20223.70%
1,001,830.00
1,001,830.00
98.23 5.32%
982,335.43
12,030.28
0.74%
(19,494.57)
A1/A
NA
1.18 1.13
63743HFE7
NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP 3.45
06/15/2025
1,105,000.00
--
3.61%
1,099,973.65
1,099,973.65
97.87 5.29%
1,081,484.44
11,224.96
0.82%
(18,489.21)
A2/AA1.21
1.15 14913R2Z9 CATERPILLAR FINANCIAL SERVICES
CORP 3.65 08/12/2025 1,375,000.00 08/08/20223.69%
1,373,336.25
1,373,336.25
98.01 5.18%
1,347,589.66
6,831.08
1.02%
(25,746.59)
A2/A
A+
1.37 1.31
26442UAA2 DUKE ENERGY PROGRESS LLC 3.25
08/15/2025 1,000,000.00 06/23/20223.57%
990,710.00
990,710.00
97.51 5.15%
975,087.43
4,152.78
0.74%
(15,622.57)
Aa3/A
WR
1.38 1.32
437076CR1 HOME DEPOT INC 4.0 09/15/2025 1,000,000.00 09/14/2022
4.13%
996,380.00
996,380.00
98.62 4.99%
986,234.18
1,777.78
0.74%
(10,145.82)
A2/A
A
1.46 1.40
023135CN4 AMAZON.COM INC 4.6 12/01/2025 425,000.00 11/29/2022
4.60%
424,974.50
424,974.50
99.60 4.85%
423,306.16
6,516.67
0.32%
(1,668.34)
A1/AA
AA1.671.57
857477BR3 STATE STREET CORP 1.746
02/06/2026 335,000.00 02/02/20221.75%
335,000.00
335,000.00
96.66 5.84%
323,803.78
893.61
0.24%
(11,196.22)
A1/A
AA1.850.82
36 HOLDINGS REPORT
City ofMurrieta | Account | AsofMarch 31,2024
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
037833BY5 APPLE INC 3.25 02/23/2026 1,000,000.00 02/22/2023 959,390.00 97.20 971,993.93 0.73% Aaa/AA+ 1.90
4.72% 959,390.00 4.81% 3,430.56 12,603.93 NA 1.81
57629W6F2 MASSMUTUAL GLOBAL FUNDING II 750,000.00 04/04/2023 749,482.50 98.82 741,169.33 0.56% Aa3/AA+ 2.03
4.5 04/10/2026 4.52% 749,482.50 5.12% 16,031.25 (8,313.17) AA+ 1.87 00440EAV9 CHUBB INA HOLDINGS INC 3.35 1,000,000.00 09/13/2023 954,220.00 96.60 965,982.58 0.73% A3/A 2.09 05/03/2026 5.23% 954,220.00 5.09% 13,772.22 11,762.58 A 1.96 58989V2F0 MET TOWER GLOBAL FUNDING 5.4 1,000,000.00 06/12/2023 1,000,440.00 100.43 1,004,328.34 0.76% Aa3/AA- 2.22 06/20/2026 5.38% 1,000,440.00 5.19% 15,150.00 3,888.34 AA- 2.04 61747YET8 MORGAN STANLEY 4.679 1,000,000.00 09/14/2022 994,030.00 98.92 989,225.22 0.75% A1/A- 2.30 07/17/2026 4.68% 994,030.00 5.55% 9,617.94 (4,804.78) A+ 1.23 69371RS56 PACCAR FINANCIAL CORP 5.05 1,450,000.00 -- 1,451,925.00 100.36 1,455,167.26 1.10% A1/A+ 2.36 08/10/2026 4.99% 1,451,925.00 4.89% 10,373.54 3,242.26 NA 2.19 06428CAA2 BANK OF AMERICA NA 5.526 1,000,000.00 09/13/2023 998,810.00 101.01 1,010,144.34 0.76% Aa1/A+ 2.38 08/18/2026 5.57% 998,810.00 5.05% 6,600.50 11,334.34 AA 2.13 713448FW3 PEPSICO INC 5.125 11/10/2026 510,000.00 11/08/2023 509,862.30 100.79 514,044.37 0.39% A1/A+ 2.61
5.13% 509,862.30 4.79% 10,237.19 4,182.07 NA 2.30
48125LRU8 JPMORGAN CHASE BANK NA 5.11 1,575,000.00 -- 1,576,460.00 100.29 1,579,522.11 1.19% Aa2/A+ 2.69 12/08/2026 5.08% 1,576,460.00 4.99% 25,262.56 3,062.11 AA 2.38 24422EXF1 JOHN DEERE CAPITAL CORP 4.5 1,000,000.00 01/10/2024 999,460.00 99.24 992,354.03 0.75% A1/A 2.77 01/08/2027 4.52% 999,460.00 4.80% 10,375.00 (7,105.97) A+ 2.55 78016HZT0 ROYAL BANK OF CANADA 4.875 1,245,000.00 01/10/2024 1,244,688.75 99.78 1,242,276.87 0.94% A1/A 2.80 01/19/2027 4.88% 1,244,688.75 4.96% 12,138.75 (2,411.88) AA- 2.57 17275RBQ4 CISCO SYSTEMS INC 4.8 02/26/2027 1,500,000.00 02/29/2024 1,500,810.00 100.16 1,502,412.78 1.13% A1/AA- 2.91
4.78% 1,500,810.00 4.74% 7,000.00 1,602.78 NA 2.67
857477CL5 STATE STREET CORP 4.993 1,210,000.00 03/13/2024 1,210,000.00 100.19 1,212,343.85 0.92% NA/A 2.96 03/18/2027 4.99% 1,210,000.00 4.92% 2,181.66 2,343.85 AA- 2.72 665859AW4 NORTHERN TRUST CORP 4.0 1,000,000.00 09/14/2022 990,460.00 97.42 974,238.40 0.74% A2/A+ 3.11 05/10/2027 4.23% 990,460.00 4.90% 15,666.67 (16,221.60) A+ 2.84 009158AY2 AIR PRODUCTS AND CHEMICALS INC 1,500,000.00 02/09/2024 1,371,945.00 91.82 1,377,227.24 1.04% A2/A 3.12
1.85 05/15/2027 4.71% 1,371,945.00 4.70% 10,483.33 5,282.24 NA 2.96 74456QBU9 PUBLIC SERVICE ELECTRICAND GAS 750,000.00 06/22/2023 715,005.00 96.02 720,143.07 0.54% A1/A 4.08 CO 3.7 05/01/2028 4.79% 715,005.00 4.78% 11,562.50 5,138.07 WR 3.68 341081GN1 FLORIDA POWER & LIGHT CO 4.4 1,500,000.00 05/22/2023 1,484,025.00 98.92 1,483,798.08 1.12% Aa2/A+ 4.12 05/15/2028 4.64% 1,484,025.00 4.69% 24,933.33 (226.92) AA- 3.67 33,853,220.65 98.52 33,627,879.67 25.40% A1/A 1.93
Total Corporate 34,145,000.00 3.73% 33,853,220.65 5.12% 287,431.90 (225,340.98) A+ 1.74 37 HOLDINGS REPORT
City ofMurrieta | Account | AsofMarch 31,2024
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
MONEY
MARKET FUND
31846V567 FIRST AMER:GVT OBLG Z 1,336,831.87
--
5.17%
1,336,831.87
1,336,831.87
1.00 5.17%
1,336,831.87
0.00 1.01%
0.00 Aaa/
AAAm
AAA
0.00 0.00
Total Money
Market Fund 1,336,831.87 5.17%
1,336,831.87
1,336,831.87
1.00 5.17%
1,336,831.87
0.00 1.01%
0.00 Aaa/
AAAm
AAA
0.00 0.00
SUPRANATIONAL
4581X0DZ8 INTER-AMERICAN DEVELOPMENT
BANK 0.5 09/23/2024 1,585,000.00 09/15/20210.52%
1,583,827.10
1,583,827.10
97.71 5.42%
1,548,662.84
176.11
1.17%
(35,164.26)
Aaa/AAA
NA
0.48 0.47
459058KT9
INTERNATIONAL BANK FOR
RECONSTRUCTION AND DEVELOPM
3.5 07/12/2028
500,000.00
07/24/2023
4.26%
483,115.00
483,115.00
96.64 4.37%
483,181.11
3,840.28
0.36%
66.11 Aaa/AAA
NA
4.28 3.89
Total
Supranational 2,085,000.00 1.41%
2,066,942.10
2,066,942.10
97.45 5.17%
2,031,843.95
4,016.39
1.53%
(35,098.15)
Aaa/AAA
NA
1.39 1.28
US TREASURY
91282CBV2 UNITED STATES TREASURY 0.375
04/15/2024 1,100,000.00 04/28/20210.36%
1,100,644.53
1,100,644.53
99.81 5.02%
1,097,904.43
1,904.71
0.83%
(2,740.10)
Aaa/AA+
AA+
0.04 0.05
91282CCC3 UNITED STATES TREASURY 0.25
05/15/2024 1,000,000.00 05/12/20210.36%
996,875.00
996,875.00
99.39 5.23%
993,882.82
947.80
0.75%
(2,992.18)
Aaa/AA+
AA+
0.12 0.13
91282CCT6 UNITED STATES TREASURY 0.375
08/15/2024 2,000,000.00 08/26/20210.46%
1,995,234.38
1,995,234.38
98.18 5.31%
1,963,554.68
947.80
1.48%
(31,679.70)
Aaa/AA+
AA+
0.38 0.37
91282CCX7 UNITED STATES TREASURY 0.375
09/15/2024 1,800,000.00 09/10/20210.44%
1,796,484.38
1,796,484.38
97.83 5.25%
1,760,871.10
311.82
1.33%
(35,613.28)
Aaa/AA+
AA+
0.46 0.45
912828YM6 UNITED STATES TREASURY 1.5
10/31/2024 1,700,000.00 09/24/20210.55%
1,749,273.44
1,749,273.44
97.86 5.28%
1,663,609.38
10,718.41
1.26%
(85,664.06)
Aaa/AA+
AA+
0.59 0.57
91282CDH1 UNITED STATES TREASURY 0.75
11/15/2024 2,000,000.00 11/29/20210.81%
1,996,328.13
1,996,328.13
97.29 5.23%
1,945,722.66
5,686.81
1.47%
(50,605.47)
Aaa/AA+
AA+
0.63 0.61
91282CDN8 UNITED STATES TREASURY 1.0
12/15/2024 900,000.00 12/29/20210.99%
900,386.72
900,386.72
97.12 5.19%
874,098.63
2,655.74
0.66%
(26,288.09)
Aaa/AA+
AA+
0.71 0.69
912828Z52 UNITED STATES TREASURY 1.375
01/31/2025 2,000,000.00 06/04/20210.51%
2,062,500.00
2,062,500.00
96.97 5.13%
1,939,375.00
4,608.52
1.46%
(123,125.00)
Aaa/AA+
AA+
0.84 0.81
38 HOLDINGS REPORT
City ofMurrieta | Account | AsofMarch 31,2024
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
912828ZC7 UNITED STATES TREASURY 1.125
02/28/2025 1,200,000.00 02/09/20221.59%
1,183,359.38
1,183,359.38
96.49 5.09%
1,157,917.97
1,173.91
0.87%
(25,441.41)
Aaa/AA+
AA+
0.91 0.89
912828ZF0 UNITED STATES TREASURY 0.5
03/31/2025 2,000,000.00 03/03/20210.54%
1,997,031.25
1,997,031.25
95.64 5.03%
1,912,723.14
27.32 1.44%
(84,308.11)
Aaa/AA+
AA+
1.00 0.98
912828ZL7 UNITED STATES TREASURY 0.375
04/30/2025 2,000,000.00 04/12/20210.66%
1,977,343.75
1,977,343.75
95.18 5.01%
1,903,593.76
3,152.47
1.44%
(73,749.99)
Aaa/AA+
AA+
1.08 1.06
912828ZT0 UNITED STATES TREASURY 0.25
05/31/2025 1,800,000.00 10/14/20210.78%
1,765,757.81
1,765,757.81
94.71 4.97%
1,704,796.88
1,512.30
1.29%
(60,960.93)
Aaa/AA+
AA+
1.17 1.14
91282CAB7 UNITED STATES TREASURY 0.25
07/31/2025 2,000,000.00 12/02/20211.06%
1,942,031.25
1,942,031.25
94.08 4.89%
1,881,562.50
837.91
1.42%
(60,468.75)
Aaa/AA+
AA+
1.33 1.31
91282CAJ0 UNITED STATES TREASURY 0.25
08/31/2025 1,000,000.00 03/22/20222.42%
928,828.13
928,828.13
93.76 4.87%
937,578.12
217.39
0.71%
8,749.99
Aaa/AA+
AA+
1.42 1.38
9128285C0 UNITED STATES TREASURY 3.0
09/30/2025 3,250,000.00 --2.90%
3,259,882.81
3,259,882.81
97.40 4.82%
3,165,449.24
266.39
2.39%
(94,433.58)
Aaa/AA+
AA+
1.50 1.43
9128285J5 UNITED STATES TREASURY 3.0
10/31/2025 2,500,000.00 06/23/20223.02%
2,498,632.81
2,498,632.81
97.29 4.80%
2,432,128.90
31,524.73
1.84%
(66,503.91)
Aaa/AA+
AA+
1.59 1.51
912828M56 UNITED STATES TREASURY 2.25
11/15/2025 2,500,000.00 06/23/20223.11%
2,431,152.34
2,431,152.34
96.06 4.80%
2,401,464.85
21,325.55
1.81%
(29,687.49)
Aaa/AA+
AA+
1.63 1.56
9128285T3 UNITED STATES TREASURY 2.625
12/31/2025 2,500,000.00 09/14/20223.76%
2,412,792.97
2,412,792.97
96.50 4.73%
2,412,597.65
16,586.54
1.82%
(195.32)
Aaa/AA+
AA+
1.75 1.68
9128286L9 UNITED STATES TREASURY 2.25
03/31/2026 2,500,000.00 09/14/20223.74%
2,377,832.03
2,377,832.03
95.50 4.63%
2,387,402.35
153.69
1.80%
9,570.32
Aaa/AA+
AA+
2.00 1.90
91282CGV7 UNITED STATES TREASURY 3.75
04/15/2026 2,000,000.00 03/20/20244.63%
1,965,703.13
1,965,703.13
98.27 4.65%
1,965,468.76
34,631.15
1.48%
(234.37)
Aaa/AA+
AA+
2.04 1.91
912828U24 UNITED STATES TREASURY 2.0
11/15/2026 3,000,000.00 09/13/20234.66%
2,767,031.25
2,767,031.25
93.88 4.50%
2,816,250.00
22,747.25
2.13%
49,218.75
Aaa/AA+
AA+
2.63 2.50
912828YX2 UNITED STATES TREASURY 1.75
12/31/2026 1,750,000.00 12/27/20233.96%
1,641,240.23
1,641,240.23
93.07 4.45%
1,628,730.46
7,740.38
1.23%
(12,509.77)
Aaa/AA+
AA+
2.75 2.63
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027 2,500,000.00 11/17/20224.02%
2,349,414.06
2,349,414.06
94.68 4.41%
2,366,992.20
170.76
1.79%
17,578.14
Aaa/AA+
AA+
3.00 2.81
91282CEW7 UNITED STATES TREASURY 3.25
06/30/2027 1,300,000.00 12/12/20223.87%
1,266,687.50
1,266,687.50
96.57 4.44%
1,255,414.06
10,678.57
0.95%
(11,273.44)
Aaa/AA+
AA+
3.25 3.02
91282CFB2 UNITED STATES TREASURY 2.75
07/31/2027 2,000,000.00 07/26/20234.30%
1,887,109.38
1,887,109.38
94.97 4.39%
1,899,375.00
9,217.03
1.43%
12,265.62
Aaa/AA+
AA+
3.33 3.13
91282CFH9 UNITED STATES TREASURY 3.125
08/31/2027 2,500,000.00 01/24/20233.65%
2,445,117.19
2,445,117.19
96.06 4.38%
2,401,562.50
6,793.48
1.81%
(43,554.69)
Aaa/AA+
AA+
3.42 3.19
39 HOLDINGS REPORT
City ofMurrieta | Account | AsofMarch 31,2024
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
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 1,600,000.00 02/22/20234.19%
1,595,500.00
1,595,500.00
99.22 4.37%
1,587,562.50
180.33
1.20%
(7,937.50)
Aaa/AA+
AA+
3.50 3.16
9128283F5 UNITED STATES TREASURY 2.25
11/15/2027 1,400,000.00 06/07/20234.05%
1,298,937.50
1,298,937.50
93.02 4.35%
1,302,218.75
11,942.31
0.98%
3,281.25
Aaa/AA+
AA+
3.63 3.39
Total US Treasury 53,800,000.00 2.52%
52,589,111.35
52,589,111.35
96.24 4.80%
51,759,808.27
208,661.08
39.09%
(829,303.08)
Aaa/AA+
AA+
1.75 1.66
Total Portfolio 135,547,091.92 3.28%
133,715,957.28
133,715,957.28
96.61 4.92%
132,399,467.90
734,694.74
100.00%
(1,316,489.37)
Aa2/AAAA2.01
1.80 Total Market
Value + Accrued 133,134,162.64
40 HOLDINGS REPORT
Murrieta Liquidity | Account | As of March 31,2024
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
CASH
CCYUSD Receivable 439.18 --
0.00%
439.18
439.18
1.00 0.00%
439.18
0.00 0.00%
0.00 Aaa/AAA
AAA
0.00 0.00
Total Cash 439.18 0.00%
439.18
439.18
1.00 0.00%
439.18
0.00 0.00%
0.00 Aaa/AAA
AAA
0.00 0.00
COMMERCIAL
PAPER
62479LDC6 MUFG Bank, Ltd., New York Branch
04/12/2024 2,000,000.00 09/13/20235.82%
1,933,886.67
1,933,886.67
99.78 5.30%
1,995,590.00
0.00 17.70%
61,703.33
P-1/A-1
NA
0.03 0.04
89233GEM4 Toyota Motor Credit Corporation
05/21/2024 2,000,000.00 10/02/20235.81%
1,927,876.67
1,927,876.67
99.20 5.33%
1,984,046.00
0.00 17.59%
56,169.33
P-1/A-1+
F1
0.14 0.14
Total Commercial
Paper 4,000,000.00 5.81%
3,861,763.34
3,861,763.34
99.49 5.31%
3,979,636.00
0.00 35.29%
117,872.66
P-1/AAA+0.09
0.09 MONEY MARKET
FUND
31846V567 FIRST AMER:GVT OBLG Z 106,208.82
--
5.17%
106,208.82
106,208.82
1.00 5.17%
106,208.82
0.00 0.94%
0.00 Aaa/
AAAm
AAA
0.00 0.00
Total Money
Market Fund 106,208.82 5.17%
106,208.82
106,208.82
1.00 5.17%
106,208.82
0.00 0.94%
0.00 Aaa/
AAAm
AAA
0.00 0.00
NEGOTIABLE CD
21684XH82 COÖPERATIEVE RABOBANK U.A.,
NEW YORK BRANCH 5.9 09/06/2024 2,000,000.00 09/13/20235.90% 1,999,872.84
1,999,872.84
100.22
5.13%
2,004,470.00
67,850.00
17.77%
4,597.16
P-1/A-1
F1+
0.44 0.44
Total Negotiable
CD 2,000,000.00
09/13/2023
5.90%
1,999,872.84
1,999,872.84
100.22
5.13%
2,004,470.00
67,850.00
17.77%
4,597.16
P-1/A-1
F1+
0.44 0.44
US TREASURY
912797HT7 UNITED STATES TREASURY
06/06/2024 2,500,000.00 03/06/20245.39%
2,466,933.51
2,466,933.51
99.04 5.39%
2,476,086.45
0.00 21.96%
9,152.94
P-1/A-1+
F1+
0.18 0.19
912797GB7 UNITED STATES TREASURY
07/11/2024 2,750,000.00 01/16/20245.20%
2,682,875.25
2,682,875.25
98.56 5.45%
2,710,304.90
0.00 24.03%
27,429.66
P-1/A-1+
F1+
0.28 0.28
41 HOLDINGS REPORT
Murrieta Liquidity | Account | As of March 31,2024
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 US Treasury 5,250,000.00 5.29%
5,149,808.76
5,149,808.76
98.79 5.42%
5,186,391.36
0.00 45.99%
36,582.60
P-1/A-1+
F1+
0.23 0.24
Total Portfolio 11,356,648.00 5.58%
11,118,092.94
11,118,092.94
98.37 5.33%
11,277,145.36
67,850.00
100.00%
159,052.42
Aaa/AA
AA
0.22 0.22
Total Market
Value + Accrued 11,344,995.36
42 SECTION | Section 5 | Transactions
43 Transaction Ledger
As of January 31, 2024
City of Murrieta
Account
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 01/02/2024 31846V567 17,500.00 First American Govt Obligation MMKT Class-Z
1.000 5.23% 17,500.00 0.00 17,500.00 0.00
Purchase 01/02/2024 31846V567 4,884.58 First American Govt Obligation MMKT Class-Z
1.000 5.23% 4,884.58 0.00 4,884.58 0.00
Purchase 01/06/2024 31846V567 4,246.88 First American Govt Obligation MMKT Class-Z
1.000 5.23% 4,246.88 0.00 4,246.88 0.00
Purchase 01/12/2024 31846V567 8,750.00 First American Govt Obligation MMKT Class-Z
1.000 5.23% 8,750.00 0.00 8,750.00 0.00
Purchase 01/15/2024 31846V567 1,875.00 First American Govt Obligation MMKT Class-Z
1.000 5.23% 1,875.00 0.00 1,875.00 0.00
Purchase 01/15/2024 31846V567 2,000,000.00 First American Govt Obligation MMKT Class-Z
1.000 5.23% 2,000,000.00 0.00 2,000,000.00 0.00
Purchase 01/16/2024 31846V567 970.67 First American Govt Obligation MMKT Class-Z
1.000 5.23% 970.67 0.00 970.67 0.00
Purchase 01/16/2024 31846V567 5,676.00 First American Govt Obligation MMKT Class-Z
1.000 5.23% 5,676.00 0.00 5,676.00 0.00
Purchase 01/16/2024 31846V567 2,556.63 First American Govt Obligation MMKT Class-Z
1.000 5.23% 2,556.63 0.00 2,556.63 0.00
Purchase 01/16/2024 31846V567 11,440.80 First American Govt Obligation MMKT Class-Z
1.000 5.23% 11,440.80 0.00 11,440.80 0.00
Purchase 01/16/2024 31846V567 10,847.97 First American Govt Obligation MMKT Class-Z
1.000 5.23% 10,847.97 0.00 10,847.97 0.00
Purchase 01/16/2024 31846V567 19,269.31 First American Govt Obligation MMKT Class-Z
1.000 5.23% 19,269.31 0.00 19,269.31 0.00
Purchase 01/16/2024 31846V567 44,424.79 First American Govt Obligation MMKT Class-Z
1.000 5.23% 44,424.79 0.00 44,424.79 0.00
Purchase 01/16/2024 31846V567 22,886.54 First American Govt Obligation MMKT Class-Z
1.000 5.23% 22,886.54 0.00 22,886.54 0.00
Purchase 01/16/2024 31846V567 14,784.12 First American Govt Obligation MMKT Class-Z
1.000 5.23% 14,784.12 0.00 14,784.12 0.00
Purchase 01/16/2024 31846V567 21,526.30 First American Govt Obligation MMKT Class-Z
1.000 5.23% 21,526.30 0.00 21,526.30 0.00
44 Transaction Ledger
As of January 31, 2024
City of Murrieta
Account
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 01/16/2024 31846V567 44,185.64 First American Govt Obligation MMKT Class-Z
1.000 5.23% 44,185.64 0.00 44,185.64 0.00
Purchase 01/16/2024 31846V567 30,850.01 First American Govt Obligation MMKT Class-Z
1.000 5.23% 30,850.01 0.00 30,850.01 0.00
Purchase 01/17/2024 24422EXF1 1,000,000.00 John Deere Capital Corp
4.5% Due 1/8/2027
99.946 4.52% 999,460.00 1,125.00 1,000,585.00 0.00
Purchase 01/17/2024 31846V567 25,341.25 First American Govt Obligation MMKT Class-Z
1.000 5.23% 25,341.25 0.00 25,341.25 0.00
Purchase 01/17/2024 31846V567 865,000.00 First American Govt Obligation MMKT Class-Z
1.000 5.23% 865,000.00 0.00 865,000.00 0.00
Purchase 01/18/2024 31846V567 1,134.54 First American Govt Obligation MMKT Class-Z
1.000 5.23% 1,134.54 0.00 1,134.54 0.00
Purchase 01/19/2024 78016HZT0 1,245,000.00 ROYAL BANK OF CANADA Note
4.875% Due 1/19/2027
99.975 4.88% 1,244,688.75 0.00 1,244,688.75 0.00
Purchase 01/21/2024 31846V567 8,000.00 First American Govt Obligation MMKT Class-Z
1.000 5.23% 8,000.00 0.00 8,000.00 0.00
Purchase 01/22/2024 31846V567 1,255.33 First American Govt Obligation MMKT Class-Z
1.000 5.23% 1,255.33 0.00 1,255.33 0.00
Purchase 01/22/2024 31846V567 8,583.73 First American Govt Obligation MMKT Class-Z
1.000 5.23% 8,583.73 0.00 8,583.73 0.00
Purchase 01/22/2024 31846V567 17,316.44 First American Govt Obligation MMKT Class-Z
1.000 5.23% 17,316.44 0.00 17,316.44 0.00
Purchase 01/22/2024 31846V567 416,286.50 First American Govt Obligation MMKT Class-Z
1.000 5.23% 416,286.50 0.00 416,286.50 0.00
Purchase 01/25/2024 3133EPW68 1,400,000.00 FFCB Note
4.125% Due 1/22/2026
99.490 4.40% 1,392,860.00 481.25 1,393,341.25 0.00
Purchase 01/25/2024 31846V567 3,371.40 First American Govt Obligation MMKT Class-Z
1.000 5.23% 3,371.40 0.00 3,371.40 0.00
Purchase 01/25/2024 31846V567 4,421.67 First American Govt Obligation MMKT Class-Z
1.000 5.23% 4,421.67 0.00 4,421.67 0.00
Purchase 01/25/2024 31846V567 2,463.88 First American Govt Obligation MMKT Class-Z
1.000 5.23% 2,463.88 0.00 2,463.88 0.00
45 Transaction Ledger
As of January 31, 2024
City of Murrieta
Account
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 01/25/2024 31846V567 2,702.50 First American Govt Obligation MMKT Class-Z
1.000 5.23% 2,702.50 0.00 2,702.50 0.00
Purchase 01/25/2024 31846V567 3,543.54 First American Govt Obligation MMKT Class-Z
1.000 5.23% 3,543.54 0.00 3,543.54 0.00
Purchase 01/25/2024 31846V567 3,319.79 First American Govt Obligation MMKT Class-Z
1.000 5.23% 3,319.79 0.00 3,319.79 0.00
Purchase 01/25/2024 31846V567 666.50 First American Govt Obligation MMKT Class-Z
1.000 5.23% 666.50 0.00 666.50 0.00
Purchase 01/25/2024 31846V567 33,486.09 First American Govt Obligation MMKT Class-Z
1.000 5.23% 33,486.09 0.00 33,486.09 0.00
Purchase 01/25/2024 31846V567 22,541.61 First American Govt Obligation MMKT Class-Z
1.000 5.23% 22,541.61 0.00 22,541.61 0.00
Purchase 01/25/2024 31846V567 4,191.70 First American Govt Obligation MMKT Class-Z
1.000 5.23% 4,191.70 0.00 4,191.70 0.00
Purchase 01/30/2024 31846V567 37,000.00 First American Govt Obligation MMKT Class-Z
1.000 5.21% 37,000.00 0.00 37,000.00 0.00
Purchase 01/31/2024 3130AYPN0 2,000,000.00 FHLB Note
4.125% Due 1/15/2027
99.778 4.21% 1,995,560.00 458.33 1,996,018.33 0.00
Purchase 01/31/2024 31846V567 68,750.00 First American Govt Obligation MMKT Class-Z
1.000 5.21% 68,750.00 0.00 68,750.00 0.00
Purchase 01/31/2024 31846V567 2,000,000.00 First American Govt Obligation MMKT Class-Z
1.000 5.21% 2,000,000.00 0.00 2,000,000.00 0.00
Subtotal 11,441,051.71 11,428,620.46 2,064.58 11,430,685.04 0.00 Short Sale 01/17/2024 31846V567 -1,000,585.00 First American Govt Obligation MMKT Class-Z
1.000 -1,000,585.00 0.00 -1,000,585.00 0.00
Short Sale 01/19/2024 31846V567 -1,244,688.75 First American Govt Obligation MMKT Class-Z
1.000 -1,244,688.75 0.00 -1,244,688.75 0.00
46 Transaction Ledger
As of January 31, 2024
City of Murrieta
Account
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Short Sale 01/31/2024 31846V567 -1,996,018.33 First American Govt Obligation MMKT Class-Z
1.000 -1,996,018.33 0.00 -1,996,018.33 0.00
Subtotal -4,241,292.08 -4,241,292.08 0.00 -4,241,292.08 0.00 TOTAL ACQUISITIONS 7,199,759.63 7,187,328.38 2,064.58 7,189,392.96 0.00
DISPOSITIONS
Closing
Purchase
01/17/2024 31846V567 -1,000,585.00 First American Govt Obligation MMKT Class-Z
1.000 -1,000,585.00 0.00 -1,000,585.00 0.00
Closing
Purchase
01/19/2024 31846V567 -1,244,688.75 First American Govt Obligation MMKT Class-Z
1.000 -1,244,688.75 0.00 -1,244,688.75 0.00
Closing
Purchase
01/31/2024 31846V567 -1,996,018.33 First American Govt Obligation MMKT Class-Z
1.000 -1,996,018.33 0.00 -1,996,018.33 0.00
Subtotal -4,241,292.08 -4,241,292.08 0.00 -4,241,292.08 0.00 Sale 01/17/2024 31846V567 1,000,585.00 First American Govt Obligation MMKT Class-Z
1.000 5.23% 1,000,585.00 0.00 1,000,585.00 0.00
Sale 01/19/2024 31846V567 1,244,688.75 First American Govt Obligation MMKT Class-Z
1.000 5.23% 1,244,688.75 0.00 1,244,688.75 0.00
Sale 01/25/2024 31846V567 1,393,341.25 First American Govt Obligation MMKT Class-Z
1.000 5.23% 1,393,341.25 0.00 1,393,341.25 0.00
Sale 01/31/2024 31846V567 1,996,018.33 First American Govt Obligation MMKT Class-Z
1.000 5.21% 1,996,018.33 0.00 1,996,018.33 0.00
Subtotal 5,634,633.33 5,634,633.33 0.00 5,634,633.33 0.00 Paydown 01/16/2024 02582JJT8 0.00 American Express Credit Trust 2022-2 A
3.39% Due 5/17/2027
100.000 0.00 2,556.63 2,556.63 0.00
Paydown 01/16/2024 161571HT4 0.00 Chase Issuance Trust 23-A1 A
5.16% Due 9/15/2028
100.000 0.00 5,676.00 5,676.00 0.00
47 Transaction Ledger
As of January 31, 2024
City of Murrieta
Account
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
DISPOSITIONS
Paydown 01/16/2024 362554AC1 11,338.74 GM Financial Securitized Term 2021-4 100.000 11,338.74 102.06 11,440.80 0.29 A3
0.68% Due 9/16/2026
Paydown 01/16/2024 36265WAD5 0.00 GM Financial Securitized Auto 2022-3 100.000 0.00 970.67 970.67 0.00 A3
3.64% Due 4/16/2027
Paydown 01/16/2024 380146AC4 10,659.70 GM Financial Auto Receivables 2022-1 100.000 10,659.70 188.27 10,847.97 0.93 A3
1.26% Due 11/16/2026
Paydown 01/16/2024 44933LAC7 19,229.93 Hyundai Auto Receivables Trust 2021-A 100.000 19,229.93 39.38 19,269.31 2.02 A3
0.38% Due 9/15/2025
Paydown 01/16/2024 44934KAC8 44,294.50 Hyundai Auto Receivables Trust 2021-B 100.000 44,294.50 130.29 44,424.79 9.78 A3
0.38% Due 1/15/2026
Paydown 01/16/2024 47787JAC2 22,216.70 John Deere Owner Trust 2022-A A3 100.000 22,216.70 669.84 22,886.54 4.91
2.32% Due 9/16/2026
Paydown 01/16/2024 47788UAC6 14,753.78 John Deere Owner Trust 2021-A A3 100.000 14,753.78 30.34 14,784.12 2.83
0.36% Due 9/15/2025
Paydown 01/16/2024 47789QAC4 21,416.73 John Deere Owner Trust 2021-B A3 100.000 21,416.73 109.57 21,526.30 1.91
0.52% Due 3/16/2026
Paydown 01/16/2024 58769KAD6 44,170.92 Mercedes-Benz Auto Lease Trust 2021- 100.000 44,170.92 14.72 44,185.64 3.33 B A3
0.4% Due 11/15/2024
Paydown 01/16/2024 89240BAC2 30,816.17 Toyota Auto Receivables Owners 2021- 100.000 30,816.17 33.84 30,850.01 5.72 A A3
0.26% Due 5/15/2025
Paydown 01/18/2024 43815PAC3 0.00 Honda Auto Receivables 2022-2 A3 100.000 0.00 1,134.54 1,134.54 0.00
3.73% Due 7/20/2026
Paydown 01/22/2024 379929AD4 0.00 GM Financial Auto Leasing 2023-3 A3 100.000 0.00 1,255.33 1,255.33 0.00
5.38% Due 11/20/2026
Paydown 01/22/2024 43813GAC5 8,574.38 Honda Auto Receivables Trust 2021-1 100.000 8,574.38 9.35 8,583.73 0.16 A3
0.27% Due 4/21/2025
48 Transaction Ledger
As of January 31, 2024
City of Murrieta
Account
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
DISPOSITIONS
Paydown 01/22/2024 43815GAC3 17,147.87 Honda Auto Receivables Trust 2021-4 A3
0.88% Due 1/21/2026
100.000 17,147.87 168.57 17,316.44 3.61
Paydown 01/22/2024 92348KAV5 415,000.00 Verizon Master Trust 2022-5 A1A
3.72% Due 7/20/2027
100.000 415,000.00 1,286.50 416,286.50 18.26
Paydown 01/25/2024 05593AAC3 0.00 BMW Vehicle Lease Trust 2023-1 A3
5.16% Due 11/25/2025
100.000 0.00 666.50 666.50 0.00
Paydown 01/25/2024 05601XAC3 33,408.63 BMW Vehicle Lease Trust 2022-1 A3
1.1% Due 3/25/2025
100.000 33,408.63 77.46 33,486.09 4.99
Paydown 01/25/2024 05602RAD3 21,627.56 BMW Vehicle Owner Trust 2022-A A3
3.21% Due 8/25/2026
100.000 21,627.56 914.05 22,541.61 1.12
Paydown 01/25/2024 3137BM7C4 0.00 FHLMC K051 A2
3.308% Due 9/25/2025
100.000 0.00 3,371.40 3,371.40 0.00
Paydown 01/25/2024 3137BSP72 0.00 FHLMC K058 A2
2.653% Due 8/25/2026
100.000 0.00 4,421.67 4,421.67 0.00
Paydown 01/25/2024 3137BTUM1 1,685.20 FHLMC K061 A2
3.347% Due 11/25/2026
100.000 1,685.20 2,506.50 4,191.70 60.50
Paydown 01/25/2024 3137BVZ82 0.00 FHLMC K063
3.43% Due 1/25/2027
100.000 0.00 2,463.88 2,463.88 0.00
Paydown 01/25/2024 3137F1G44 0.00 FHLMC K065 A2
3.243% Due 4/25/2027
100.000 0.00 2,702.50 2,702.50 0.00
Paydown 01/25/2024 3137F4X72 0.00 FHLMC K075 A2
3.65% Due 2/25/2028
100.000 0.00 3,543.54 3,543.54 0.00
Paydown 01/25/2024 3137FBU79 0.00 FHLMC K069 A2
3.187% Due 9/25/2027
100.000 0.00 3,319.79 3,319.79 0.00
Subtotal 716,340.81 716,340.81 38,363.19 754,704.00 120.36 Maturity 01/15/2024 91282CBE0 2,000,000.00 US Treasury Note
0.125% Due 1/15/2024
100.000 2,000,000.00 0.00 2,000,000.00 7,109.37
Maturity 01/17/2024 24422EVN6 865,000.00 John Deere Capital Corp Note
0.45% Due 1/17/2024
100.000 865,000.00 0.00 865,000.00 614.15
49 Transaction Ledger
As of January 31, 2024
City of Murrieta
Account
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
DISPOSITIONS
Maturity 01/31/2024 9128285Z9 2,000,000.00 US Treasury Note
2.5% Due 1/31/2024
100.000 2,000,000.00 0.00 2,000,000.00 -65,631.70
Subtotal 4,865,000.00 4,865,000.00 0.00 4,865,000.00 -57,908.18 Security
Withdrawal
01/29/2024 31846V567 369.00 First American Govt Obligation MMKT Class-Z
1.000 369.00 0.00 369.00 0.00
Subtotal 369.00 369.00 0.00 369.00 0.00
TOTAL DISPOSITIONS 6,975,051.06 6,975,051.06 38,363.19 7,013,414.25 -57,787.82
OTHER TRANSACTIONS
Interest 01/02/2024 3135G0V75 2,000,000.00 FNMA Note
1.75% Due 7/2/2024
0.000 17,500.00 0.00 17,500.00 0.00
Interest 01/06/2024 3133ENKS8 755,000.00 FFCB Note
1.125% Due 1/6/2025
0.000 4,246.88 0.00 4,246.88 0.00
Interest 01/12/2024 459058KT9 500,000.00 Intl. Bank Recon & Development Note
3.5% Due 7/12/2028
0.000 8,750.00 0.00 8,750.00 0.00
Interest 01/15/2024 79466LAG9 200,000.00 Salesforce.com Inc Callable Note Cont 7/15/2022
0.625% Due 7/15/2024
0.000 625.00 0.00 625.00 0.00
Interest 01/15/2024 91282CBE0 2,000,000.00 US Treasury Note
0.125% Due 1/15/2024
0.000 1,250.00 0.00 1,250.00 0.00
Interest 01/17/2024 24422EVN6 865,000.00 John Deere Capital Corp Note
0.45% Due 1/17/2024
0.000 1,946.25 0.00 1,946.25 0.00
Interest 01/17/2024 61747YET8 1,000,000.00 Morgan Stanley Callable Note Cont 7/17/2025
4.679% Due 7/17/2026
0.000 23,395.00 0.00 23,395.00 0.00
Interest 01/21/2024 78016EYM3 1,000,000.00 Royal Bank of Canada Note
1.6% Due 1/21/2025
0.000 8,000.00 0.00 8,000.00 0.00
Interest 01/30/2024 3133EPZY4 2,000,000.00 FFCB Note
5% Due 7/30/2026
0.000 25,000.00 0.00 25,000.00 0.00
50 Transaction Ledger
As of January 31, 2024
City of Murrieta
Account
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
OTHER TRANSACTIONS
Interest 01/30/2024 91159HHX1 1,000,000.00 US Bancorp Callable Note Cont 6/28/2024
2.4% Due 7/30/2024
0.000 12,000.00 0.00 12,000.00 0.00
Interest 01/31/2024 9128285Z9 2,000,000.00 US Treasury Note
2.5% Due 1/31/2024
0.000 25,000.00 0.00 25,000.00 0.00
Interest 01/31/2024 912828Z52 2,000,000.00 US Treasury Note
1.375% Due 1/31/2025
0.000 13,750.00 0.00 13,750.00 0.00
Interest 01/31/2024 91282CAB7 2,000,000.00 US Treasury Note
0.25% Due 7/31/2025
0.000 2,500.00 0.00 2,500.00 0.00
Interest 01/31/2024 91282CFB2 2,000,000.00 US Treasury Note
2.75% Due 7/31/2027
0.000 27,500.00 0.00 27,500.00 0.00
Subtotal 19,320,000.00 171,463.13 0.00 171,463.13 0.00
Dividend 01/02/2024 31846V567 90,320.00 First American Govt Obligation MMKT Class-Z
0.000 4,884.58 0.00 4,884.58 0.00
Subtotal 90,320.00 4,884.58 0.00 4,884.58 0.00
TOTAL OTHER TRANSACTIONS 19,410,320.00 176,347.71 0.00 176,347.71 0.00 51 TRANSACTION LEDGER
City of Murrieta | Account | Asof February29,2024
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 02/02/2024 31846V567 799,547.07 FIRST AMER:GVT OBLG Z 1.000 5.20% (799,547.07) 0.00 (799,547.07) 0.00 Purchase 02/06/2024 31846V567 1,879,518.30 FIRST AMER:GVT OBLG Z 1.000 5.19% (1,879,518.30) 0.00 (1,879,518.30) 0.00 Purchase 02/09/2024 31846V567 612.50 FIRST AMER:GVT OBLG Z 1.000 5.19% (612.50) 0.00 (612.50) 0.00 Purchase 02/12/2024 31846V567 61,706.25 FIRST AMER:GVT OBLG Z 1.000 5.19% (61,706.25) 0.00 (61,706.25) 0.00 Purchase 02/13/2024 009158AY2 1,500,000.00
AIR PRODUCTS AND
CHEMICALS INC 1.85
05/15/2027
91.463 4.71% (1,371,945.00) (6,783.33) (1,378,728.33) 0.00 Purchase 02/14/2024 31846V567 64,612.50 FIRST AMER:GVT OBLG Z 1.000 5.19% (64,612.50) 0.00 (64,612.50) 0.00 Purchase 02/15/2024 36269FAD8 455,000.00 GMALT 2024-1 A3 5.09 03/22/2027 99.988 5.09% (454,943.13) 0.00 (454,943.13) 0.00 Purchase 02/16/2024 31846V567 11,428.55 FIRST AMER:GVT OBLG Z 1.000 5.19% (11,428.55) 0.00 (11,428.55) 0.00 Purchase 02/16/2024 31846V567 11,679.53 FIRST AMER:GVT OBLG Z 1.000 5.19% (11,679.53) 0.00 (11,679.53) 0.00 Purchase 02/20/2024 31846V567 30,019.87 FIRST AMER:GVT OBLG Z 1.000 5.13% (30,019.87) 0.00 (30,019.87) 0.00 Purchase 02/21/2024 31846V567 25,725.25 FIRST AMER:GVT OBLG Z 1.000 5.19% (25,725.25) 0.00 (25,725.25) 0.00 Purchase 02/21/2024 437918AC9 1,250,000.00 HAROT 2024-1 A3 5.21 08/15/2028 99.996 5.21% (1,249,945.63) 0.00 (1,249,945.63) 0.00 Purchase 02/23/2024 31846V567 2,038,550.00 FIRST AMER:GVT OBLG Z 1.000 5.18% (2,038,550.00) 0.00 (2,038,550.00) 0.00 Purchase 02/26/2024 31846V567 53,356.41 FIRST AMER:GVT OBLG Z 1.000 5.18% (53,356.41) 0.00 (53,356.41) 0.00 Purchase 02/26/2024 31846V567 24,015.45 FIRST AMER:GVT OBLG Z 1.000 5.18% (24,015.45) 0.00 (24,015.45) 0.00 Purchase 02/29/2024 31846V567 47,062.50 FIRST AMER:GVT OBLG Z 1.000 5.20% (47,062.50) 0.00 (47,062.50) 0.00 Purchase 03/04/2024 17275RBQ4 1,500,000.00 CISCO SYSTEMS INC 4.8 02/26/2027 100.054 4.78% (1,500,810.00) (1,600.00) (1,502,410.00) 0.00 Total Purchase 9,752,834.18 (9,625,477.94) (8,383.33) (9,633,861.27) 0.00 TOTAL ACQUISITIONS 9,752,834.18 (9,625,477.94) (8,383.33) (9,633,861.27) 0.00
DISPOSITIONS
Maturity 02/02/2024 69371RR24 (795,000.00) PACCAR FINANCIAL CORP 0.35 02/02/2024 100.000 0.35% 795,000.00 0.00 795,000.00 922.20 Maturity 02/06/2024 594918BX1 (1,850,000.00) MICROSOFT CORP 2.875 02/06/2024 100.000 2.88% 1,850,000.00 0.00 1,850,000.00 (64,361.50) 52 TRANSACTION LEDGER
City of Murrieta | Account | Asof February29,2024
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss Maturity 02/23/2024 3133EKMX1 (2,000,000.00)
FEDERAL FARM CREDIT
BANKS FUNDING CORP 2.23
02/23/2024
100.000 2.23% 2,000,000.00 0.00 2,000,000.00 (22,820.00) Total Maturity (4,645,000.00) 4,645,000.00 0.00 4,645,000.00 (86,259.30) Sale 02/13/2024 31846V567 (1,378,728.33) FIRST AMER:GVT OBLG Z 1.000 5.19% 1,378,728.33 0.00 1,378,728.33 (0.00) Sale 02/15/2024 31846V567 (267,256.92) FIRST AMER:GVT OBLG Z 1.000 5.19% 267,256.92 0.00 267,256.92 0.00 Sale 02/21/2024 31846V567 (1,249,945.63) FIRST AMER:GVT OBLG Z 1.000 5.19% 1,249,945.63 0.00 1,249,945.63 0.00 Total Sale (2,895,930.88) 2,895,930.88 0.00 2,895,930.88 (0.00) TOTAL DISPOSITIONS (7,540,930.88) 7,540,930.88 0.00 7,540,930.88 (86,259.30) OTHER
TRANSACTIONS
Coupon 02/01/2024 3137BM7C4 0.00 FHMS K-051 A2 3.308
09/25/2025 3.30% 3,371.40 0.00 3,371.40 0.00
Coupon 02/01/2024 3137BSP72 0.00 FHMS K-058 A2 2.653
08/25/2026 4.27% 4,421.67 0.00 4,421.67 0.00
Coupon 02/01/2024 3137BTUM1 0.00 FHMS K-061 A2 3.347
11/25/2026 4.63% 2,501.80 0.00 2,501.80 0.00
Coupon 02/01/2024 3137BVZ82 0.00 FHMS K-063 A2 3.43
01/25/2027 4.28% 2,463.88 0.00 2,463.88 0.00
Coupon 02/01/2024 3137F1G44 0.00 FHMS K-065 A2 3.243
04/25/2027 4.02% 2,702.50 0.00 2,702.50 0.00
Coupon 02/01/2024 3137FBU79 0.00 FHMS K-069 A2 3.187
09/25/2027 4.29% 3,319.79 0.00 3,319.79 0.00
Coupon 02/01/2024 3137F4X72 0.00 FHMS K-075 A2 3.65
02/25/2028 4.93% 3,543.54 0.00 3,543.54 0.00
Coupon 02/02/2024 69371RR24 0.00 PACCAR FINANCIAL CORP 0.35 02/02/2024 0.35% 1,391.25 0.00 1,391.25 0.00
Coupon 02/06/2024 594918BX1 0.00 MICROSOFT CORP 2.875
02/06/2024 2.88% 26,593.75 0.00 26,593.75 0.00
Coupon 02/06/2024 857477BR3 0.00 STATE STREET CORP 1.746 02/06/2026 1.75% 2,924.55 0.00 2,924.55 0.00
Coupon 02/09/2024 69371RR40 0.00 PACCAR FINANCIAL CORP 0.5 08/09/2024 0.52% 612.50 0.00 612.50 0.00
53 TRANSACTION LEDGER
City of Murrieta | Account | Asof February29,2024
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss Coupon 02/10/2024 69371RS56 0.00 PACCAR FINANCIAL CORP 5.05 08/10/2026 4.99% 36,612.50 0.00 36,612.50 0.00
Coupon 02/12/2024 14913R2Z9 0.00
CATERPILLAR FINANCIAL
SERVICES CORP 3.65
08/12/2025
3.69% 25,093.75 0.00 25,093.75 0.00
Coupon 02/14/2024 3133ENPG9 0.00
FEDERAL FARM CREDIT
BANKS FUNDING CORP 1.75
02/14/2025
1.82% 10,500.00 0.00 10,500.00 0.00
Coupon 02/14/2024 3133EPSW6 0.00
FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.5
08/14/2026
4.58% 54,112.50 0.00 54,112.50 0.00
Coupon 02/15/2024 26442UAA2 0.00 DUKE ENERGY PROGRESS LLC
3.25 08/15/2025 3.57% 16,250.00 0.00 16,250.00 0.00
Coupon 02/15/2024 89240BAC2 0.00 TAOT 2021-A A3 0.26
05/15/2025 0.26% 27.17 0.00 27.17 0.00
Coupon 02/15/2024 47788UAC6 0.00 JDOT 2021 A3 0.36 09/15/2025 0.36% 25.91 0.00 25.91 0.00 Coupon 02/15/2024 44933LAC7 0.00 HART 2021-A A3 0.38
09/15/2025 0.38% 33.29 0.00 33.29 0.00
Coupon 02/15/2024 47789QAC4 0.00 JDOT 2021-B A3 0.52
03/16/2026 0.52% 100.29 0.00 100.29 0.00
Coupon 02/15/2024 44934KAC8 0.00 HART 2021-B A3 0.38
01/15/2026 0.38% 116.26 0.00 116.26 0.00
Coupon 02/15/2024 91282CCT6 0.00 UNITED STATES TREASURY
0.375 08/15/2024 0.46% 3,750.00 0.00 3,750.00 0.00
Coupon 02/15/2024 47787JAC2 0.00 JDOT 2022 A3 0.36 09/15/2026 2.33% 626.88 0.00 626.88 0.00 Coupon 02/15/2024 161571HT4 0.00 CHAIT 2023-1 A 5.16
09/15/2028 5.17% 5,676.00 0.00 5,676.00 0.00
Coupon 02/15/2024 02582JJT8 0.00 AMXCA 2022-2 A 05/17/2027 3.40% 2,556.63 0.00 2,556.63 0.00 Coupon 02/16/2024 362554AC1 0.00 GMCAR 2021-4 A3 0.68
09/16/2026 0.68% 95.64 0.00 95.64 0.00
Coupon 02/16/2024 380146AC4 0.00 GMCAR 2022-1 A3 1.23
11/16/2026 1.26% 177.07 0.00 177.07 0.00
Coupon 02/16/2024 36265WAD5 0.00 GMCAR 2022-3 A3 3.64
04/16/2027 3.64% 970.67 0.00 970.67 0.00
54 TRANSACTION LEDGER
City of Murrieta | Account | Asof February29,2024
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss Coupon 02/18/2024 43815PAC3 0.00 HAROT 2022-2 A3 3.73
07/20/2026 3.73% 1,134.54 0.00 1,134.54 0.00
Coupon 02/18/2024 06428CAA2 0.00 BANK OF AMERICA NA 5.526 08/18/2026 5.57% 27,630.00 0.00 27,630.00 0.00
Coupon 02/20/2024 379929AD4 0.00 GMALT 2023-3 A3 5.38
11/20/2026 5.38% 1,255.33 0.00 1,255.33 0.00
Coupon 02/21/2024 43813GAC5 0.00 HAROT 2021-1 A3 0.27
04/21/2025 0.27% 7.43 0.00 7.43 0.00
Coupon 02/21/2024 43815GAC3 0.00 HAROT 2021-4 A3 0.88
01/21/2026 0.89% 155.99 0.00 155.99 0.00
Coupon 02/23/2024 037833BY5 0.00 APPLE INC 3.25 02/23/2026 4.72% 16,250.00 0.00 16,250.00 0.00 Coupon 02/23/2024 3133EKMX1 0.00
FEDERAL FARM CREDIT
BANKS FUNDING CORP 2.23
02/23/2024
2.23% 22,300.00 0.00 22,300.00 0.00
Coupon 02/25/2024 05601XAC3 0.00 BMWLT 2022-1 A3 1.03
03/25/2025 1.10% 46.83 0.00 46.83 0.00
Coupon 02/25/2024 05602RAD3 0.00 BMWOT 2022-A A3 3.21
08/25/2026 3.21% 856.19 0.00 856.19 0.00
Coupon 02/25/2024 05593AAC3 0.00 BMWLT 2023-1 A3 5.16
11/25/2025 5.16% 666.50 0.00 666.50 0.00
Coupon 02/29/2024 912828ZC7 0.00 UNITED STATES TREASURY
1.125 02/28/2025 1.59% 6,750.00 0.00 6,750.00 0.00
Coupon 02/29/2024 91282CAJ0 0.00 UNITED STATES TREASURY 0.25 08/31/2025 2.42% 1,250.00 0.00 1,250.00 0.00
Coupon 02/29/2024 91282CFH9 0.00 UNITED STATES TREASURY
3.125 08/31/2027 3.65% 39,062.50 0.00 39,062.50 0.00
Total Coupon 0.00 327,936.50 0.00 327,936.50 0.00
Custody Fee 02/26/2024 CCYUSD (373.00) Cash 0.00% (373.00) 0.00 (373.00) 0.00 Total Custody Fee (373.00) (373.00) 0.00 (373.00) 0.00
Dividend 02/29/2024 31846V567 0.00 FIRST AMER:GVT OBLG Z 5.20% 342.55 0.00 7,641.55 0.00 Total Dividend 0.00 342.55 0.00 7,641.55 0.00
Principal Paydown 02/01/2024 3137BTUM1 1,690.87 FHMS K-061 A2 3.347 11/25/2026 4.66% 1,690.87 -- 1,690.87 60.70
55 TRANSACTION LEDGER
City of Murrieta | Account | Asof February29,2024
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss Principal Paydown 02/15/2024 89240BAC2 31,984.37 TAOT 2021-A A3 0.26 05/15/2025 0.26% 31,984.37 -- 31,984.37 5.94
Principal Paydown 02/15/2024 47788UAC6 12,877.99 JDOT 2021 A3 0.36 09/15/2025 0.36% 12,877.99 -- 12,877.99 2.47 Principal Paydown 02/15/2024 44933LAC7 19,044.19 HART 2021-A A3 0.38 09/15/2025 0.38% 19,044.19 -- 19,044.19 2.00
Principal Paydown 02/15/2024 44934KAC8 43,034.12 HART 2021-B A3 0.38 01/15/2026 0.38% 43,034.12 -- 43,034.12 9.50
Principal Paydown 02/15/2024 47789QAC4 26,979.28 JDOT 2021-B A3 0.52 03/16/2026 0.52% 26,979.28 -- 26,979.28 2.41
Principal Paydown 02/15/2024 47787JAC2 24,603.83 JDOT 2022 A3 0.36 09/15/2026 2.33% 24,603.83 -- 24,603.83 5.44 Principal Paydown 02/16/2024 362554AC1 11,332.91 GMCAR 2021-4 A3 0.68 09/16/2026 0.68% 11,332.91 -- 11,332.91 0.29
Principal Paydown 02/16/2024 380146AC4 10,531.79 GMCAR 2022-1 A3 1.23 11/16/2026 1.26% 10,531.79 -- 10,531.79 0.91
Principal Paydown 02/21/2024 43813GAC5 8,493.73 HAROT 2021-1 A3 0.27 04/21/2025 0.27% 8,493.73 -- 8,493.73 0.16
Principal Paydown 02/21/2024 43815GAC3 17,068.10 HAROT 2021-4 A3 0.88 01/21/2026 0.89% 17,068.10 -- 17,068.10 3.60
Principal Paydown 02/25/2024 05601XAC3 30,296.54 BMWLT 2022-1 A3 1.03 03/25/2025 1.10% 30,296.54 -- 30,296.54 4.53
Principal Paydown 02/25/2024 05602RAD3 21,863.35 BMWOT 2022-A A3 3.21 08/25/2026 3.21% 21,863.35 -- 21,863.35 1.14
Total Principal
Paydown 259,801.07 259,801.07 -- 259,801.07 99.09
TOTAL OTHER
TRANSACTIONS 259,428.07 587,707.12 0.00 595,006.12 99.09 56 TRANSACTION LEDGER
City ofMurrieta | Account | AsofMarch 31,2024
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 03/11/2024 31846V567 104,064.62 FIRST AMER:GVT OBLG Z 1.000 5.18% (104,064.62) 0.00 (104,064.62) 0.00 Purchase 03/11/2024 31846V567 21,388.50 FIRST AMER:GVT OBLG Z 1.000 5.18% (21,388.50) 0.00 (21,388.50) 0.00 Purchase 03/15/2024 31846V567 2,171,150.47 FIRST AMER:GVT OBLG Z 1.000 5.18% (2,171,150.47) 0.00 (2,171,150.47) 0.00 Purchase 03/18/2024 857477CL5 1,210,000.00 STATE STREET CORP 4.993 03/18/2027 100.000 4.99% (1,210,000.00) 0.00 (1,210,000.00) 0.00 Purchase 03/18/2024 31846V567 24,228.77 FIRST AMER:GVT OBLG Z 1.000 5.18% (24,228.77) 0.00 (24,228.77) 0.00 Purchase 03/19/2024 47800RAD5 335,000.00 JDOT 2024 A3 4.96 11/15/2028 99.994 0.00% (334,981.24) 0.00 (334,981.24) 0.00 Purchase 03/20/2024 31846V567 3,506.95 FIRST AMER:GVT OBLG Z 1.000 5.18% (3,506.95) 0.00 (3,506.95) 0.00 Purchase 03/21/2024 91282CGV7 2,000,000.00 UNITED STATES TREASURY 3.75 04/15/2026 98.285 4.63% (1,965,703.13) (32,377.05) (1,998,080.18) 0.00 Purchase 03/21/2024 31846V567 24,687.30 FIRST AMER:GVT OBLG Z 1.000 5.19% (24,687.30) 0.00 (24,687.30) 0.00 Purchase 03/22/2024 31846V567 45,000.00 FIRST AMER:GVT OBLG Z 1.000 5.19% (45,000.00) 0.00 (45,000.00) 0.00 Purchase 03/25/2024 31846V567 45,028.96 FIRST AMER:GVT OBLG Z 1.000 5.19% (45,028.96) 0.00 (45,028.96) 0.00 Purchase 03/25/2024 31846V567 25,665.89 FIRST AMER:GVT OBLG Z 1.000 5.19% (25,665.89) 0.00 (25,665.89) 0.00 Total Purchase 6,009,721.46 (5,975,405.83) (32,377.05) (6,007,782.88) 0.00 TOTAL ACQUISITIONS 6,009,721.46 (5,975,405.83) (32,377.05) (6,007,782.88) 0.00
DISPOSITIONS
Maturity 03/03/2024 166764BT6 (900,000.00) CHEVRON CORP 2.895 03/03/2024 100.000 2.90% 900,000.00 0.00 900,000.00 (35,334.00) Maturity 03/15/2024 91282CBR1 (2,000,000.00) UNITED STATES TREASURY 0.25 03/15/2024 100.000 0.25% 2,000,000.00 0.00 2,000,000.00 8,125.00 Maturity 03/18/2024 808513BN4 (575,000.00) CHARLES SCHWAB CORP 0.75 03/18/2024 100.000 0.75% 575,000.00 0.00 575,000.00 287.50 Total Maturity (3,475,000.00) 3,475,000.00 0.00 3,475,000.00 (26,921.50) Sale 03/04/2024 31846V567 (581,740.95) FIRST AMER:GVT OBLG Z 1.000 5.17% 581,740.95 0.00 581,740.95 0.00 Sale 03/18/2024 31846V567 (618,857.12) FIRST AMER:GVT OBLG Z 1.000 5.18% 618,857.12 0.00 618,857.12 0.00 Sale 03/19/2024 31846V567 (334,981.24) FIRST AMER:GVT OBLG Z 1.000 5.18% 334,981.24 0.00 334,981.24 0.00 Sale 03/21/2024 31846V567 (1,998,080.18) FIRST AMER:GVT OBLG Z 1.000 5.19% 1,998,080.18 0.00 1,998,080.18 0.00 Sale 03/26/2024 31846V567 (318.00) FIRST AMER:GVT OBLG Z 1.000 5.19% 318.00 0.00 318.00 0.00 Total Sale (3,533,977.49) 3,533,977.49 0.00 3,533,977.49 0.00 57 TRANSACTION LEDGER
City ofMurrieta | Account | AsofMarch 31,2024
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss TOTAL DISPOSITIONS (7,008,977.49) 7,008,977.49 0.00 7,008,977.49 (26,921.50) OTHER
TRANSACTIONS
Coupon 03/01/2024 3137BM7C4 0.00 FHMS K-051 A2 3.308
09/25/2025 3.30% 3,371.40 0.00 3,371.40 0.00
Coupon 03/01/2024 3137BSP72 0.00 FHMS K-058 A2 2.653
08/25/2026 4.27% 4,421.67 0.00 4,421.67 0.00
Coupon 03/01/2024 3137BTUM1 0.00 FHMS K-061 A2 3.347
11/25/2026 4.66% 2,497.08 0.00 2,497.08 0.00
Coupon 03/01/2024 3137BVZ82 0.00 FHMS K-063 A2 3.43
01/25/2027 4.30% 2,463.88 0.00 2,463.88 0.00
Coupon 03/01/2024 3137F1G44 0.00 FHMS K-065 A2 3.243
04/25/2027 4.02% 2,702.50 0.00 2,702.50 0.00
Coupon 03/01/2024 3137FBU79 0.00 FHMS K-069 A2 3.187
09/25/2027 4.32% 3,319.79 0.00 3,319.79 0.00
Coupon 03/01/2024 3137F4X72 0.00 FHMS K-075 A2 3.65
02/25/2028 4.95% 3,543.54 0.00 3,543.54 0.00
Coupon 03/03/2024 166764BT6 0.00 CHEVRON CORP 2.895
03/03/2024 2.90% 13,027.50 0.00 13,027.50 0.00
Coupon 03/11/2024 3130AWTQ3 0.00 FEDERAL HOME LOAN BANKS
4.625 09/11/2026 4.81% 125,453.12 0.00 125,453.12 0.00
Coupon 03/14/2024 06051GJY6 0.00 BANK OF AMERICA CORP 5.72 06/14/2024 5.75% 13,986.63 0.00 13,986.63 0.00
Coupon 03/15/2024 89240BAC2 0.00 TAOT 2021-A A3 0.26
05/15/2025 0.26% 20.24 0.00 20.24 0.00
Coupon 03/15/2024 47788UAC6 0.00 JDOT 2021 A3 0.36 09/15/2025 0.36% 22.05 0.00 22.05 0.00 Coupon 03/15/2024 91282CBR1 0.00 UNITED STATES TREASURY 0.25 03/15/2024 0.25% 2,500.00 0.00 2,500.00 0.00
Coupon 03/15/2024 44933LAC7 0.00 HART 2021-A A3 0.38
09/15/2025 0.38% 27.26 0.00 27.26 0.00
Coupon 03/15/2024 47789QAC4 0.00 JDOT 2021-B A3 0.52
03/16/2026 0.52% 88.60 0.00 88.60 0.00
58 TRANSACTION LEDGER
City ofMurrieta | Account | AsofMarch 31,2024
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss Coupon 03/15/2024 44934KAC8 0.00 HART 2021-B A3 0.38
01/15/2026 0.38% 102.63 0.00 102.63 0.00
Coupon 03/15/2024 91282CCX7 0.00 UNITED STATES TREASURY
0.375 09/15/2024 0.44% 3,375.00 0.00 3,375.00 0.00
Coupon 03/15/2024 47787JAC2 0.00 JDOT 2022 A3 0.36 09/15/2026 2.33% 579.32 0.00 579.32 0.00 Coupon 03/15/2024 437076CR1 0.00 HOME DEPOT INC 4.0
09/15/2025 4.13% 20,000.00 0.00 20,000.00 0.00
Coupon 03/15/2024 161571HT4 0.00 CHAIT 2023-1 A 5.16
09/15/2028 5.17% 5,676.00 0.00 5,676.00 0.00
Coupon 03/15/2024 437918AC9 0.00 HAROT 2024-1 A3 5.21
08/15/2028 5.21% 4,341.67 0.00 4,341.67 0.00
Coupon 03/15/2024 02582JJT8 0.00 AMXCA 2022-2 A 05/17/2027 3.40% 2,556.63 0.00 2,556.63 0.00 Coupon 03/16/2024 362554AC1 0.00 GMCAR 2021-4 A3 0.68
09/16/2026 0.68% 89.21 0.00 89.21 0.00
Coupon 03/16/2024 380146AC4 0.00 GMCAR 2022-1 A3 1.23
11/16/2026 1.26% 166.01 0.00 166.01 0.00
Coupon 03/16/2024 36265WAD5 0.00 GMCAR 2022-3 A3 3.64
04/16/2027 3.64% 970.67 0.00 970.67 0.00
Coupon 03/18/2024 808513BN4 0.00 CHARLES SCHWAB CORP 0.75 03/18/2024 0.75% 2,156.25 0.00 2,156.25 0.00
Coupon 03/18/2024 43815PAC3 0.00 HAROT 2022-2 A3 3.73
07/20/2026 3.73% 1,134.54 0.00 1,134.54 0.00
Coupon 03/20/2024 379929AD4 0.00 GMALT 2023-3 A3 5.38
11/20/2026 5.38% 1,255.33 0.00 1,255.33 0.00
Coupon 03/20/2024 36269FAD8 0.00 GMALT 2024-1 A3 5.09
03/22/2027 5.09% 2,251.62 0.00 2,251.62 0.00
Coupon 03/21/2024 43813GAC5 0.00 HAROT 2021-1 A3 0.27
04/21/2025 0.27% 5.51 0.00 5.51 0.00
Coupon 03/21/2024 43815GAC3 0.00 HAROT 2021-4 A3 0.88
01/21/2026 0.89% 143.47 0.00 143.47 0.00
Coupon 03/22/2024 3133EPWK7 0.00
FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.5
09/22/2028
4.71% 45,000.00 0.00 45,000.00 0.00
59 TRANSACTION LEDGER
City ofMurrieta | Account | AsofMarch 31,2024
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss Coupon 03/23/2024 4581X0DZ8 0.00
INTER-AMERICAN
DEVELOPMENT BANK 0.5
09/23/2024
0.52% 3,962.50 0.00 3,962.50 0.00
Coupon 03/25/2024 05601XAC3 0.00 BMWLT 2022-1 A3 1.03
03/25/2025 1.10% 19.06 0.00 19.06 0.00
Coupon 03/25/2024 05602RAD3 0.00 BMWOT 2022-A A3 3.21
08/25/2026 3.21% 797.71 0.00 797.71 0.00
Coupon 03/25/2024 05593AAC3 0.00 BMWLT 2023-1 A3 5.16
11/25/2025 5.16% 666.50 0.00 666.50 0.00
Coupon 03/31/2024 9128285C0 0.00 UNITED STATES TREASURY 3.0 09/30/2025 2.90% 48,750.00 0.00 48,750.00 0.00
Coupon 03/31/2024 9128286L9 0.00 UNITED STATES TREASURY 2.25 03/31/2026 3.74% 28,125.00 0.00 28,125.00 0.00
Coupon 03/31/2024 912828ZF0 0.00 UNITED STATES TREASURY 0.5 03/31/2025 0.54% 5,000.00 0.00 5,000.00 0.00
Coupon 03/31/2024 91282CEF4 0.00 UNITED STATES TREASURY 2.5 03/31/2027 4.02% 31,250.00 0.00 31,250.00 0.00
Coupon 03/31/2024 91282CFM8 0.00 UNITED STATES TREASURY
4.125 09/30/2027 4.19% 33,000.00 0.00 33,000.00 0.00
Total Coupon 0.00 418,819.89 0.00 418,819.89 0.00
Custody Fee 03/26/2024 CCYUSD (318.00) Cash 0.00% (318.00) 0.00 (318.00) 0.00 Total Custody Fee (318.00) (318.00) 0.00 (318.00) 0.00
Dividend 03/31/2024 31846V567 0.00 FIRST AMER:GVT OBLG Z 5.19% 9,146.55 0.00 9,146.55 0.00 Total Dividend 0.00 9,146.55 0.00 9,146.55 0.00
Principal Paydown 03/01/2024 3137BTUM1 1,913.25 FHMS K-061 A2 3.347 11/25/2026 4.69% 1,913.25 -- 1,913.25 68.69
Principal Paydown 03/15/2024 89240BAC2 29,253.85 TAOT 2021-A A3 0.26 05/15/2025 0.26% 29,253.85 -- 29,253.85 5.43
Principal Paydown 03/15/2024 47788UAC6 9,285.04 JDOT 2021 A3 0.36 09/15/2025 0.36% 9,285.04 -- 9,285.04 1.79 Principal Paydown 03/15/2024 44933LAC7 18,277.98 HART 2021-A A3 0.38 09/15/2025 0.38% 18,277.98 -- 18,277.98 1.93
Principal Paydown 03/15/2024 44934KAC8 41,516.05 HART 2021-B A3 0.38 01/15/2026 0.38% 41,516.05 -- 41,516.05 9.16
60 TRANSACTION LEDGER
City ofMurrieta | Account | AsofMarch 31,2024
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss Principal Paydown 03/15/2024 47789QAC4 18,564.99 JDOT 2021-B A3 0.52 03/16/2026 0.52% 18,564.99 -- 18,564.99 1.66
Principal Paydown 03/15/2024 47787JAC2 14,963.16 JDOT 2022 A3 0.36 09/15/2026 2.33% 14,963.16 -- 14,963.16 3.30 Principal Paydown 03/16/2024 362554AC1 11,383.80 GMCAR 2021-4 A3 0.68 09/16/2026 0.68% 11,383.80 -- 11,383.80 0.29
Principal Paydown 03/16/2024 380146AC4 10,484.54 GMCAR 2022-1 A3 1.23 11/16/2026 1.26% 10,484.54 -- 10,484.54 0.91
Principal Paydown 03/21/2024 43813GAC5 8,197.03 HAROT 2021-1 A3 0.27 04/21/2025 0.27% 8,197.03 -- 8,197.03 0.16
Principal Paydown 03/21/2024 43815GAC3 16,341.29 HAROT 2021-4 A3 0.88 01/21/2026 0.89% 16,341.29 -- 16,341.29 3.45
Principal Paydown 03/25/2024 05601XAC3 20,795.85 BMWLT 2022-1 A3 1.03 03/25/2025 1.10% 20,795.85 -- 20,795.85 3.12
Principal Paydown 03/25/2024 05602RAD3 20,220.12 BMWOT 2022-A A3 3.21 08/25/2026 3.21% 20,220.12 -- 20,220.12 1.06
Total Principal
Paydown 221,196.95 221,196.95 -- 221,196.95 100.93
TOTAL OTHER
TRANSACTIONS 220,878.95 648,845.39 0.00 648,845.39 100.93 61 Transaction Ledger
As of January 31, 2024
Murrieta Liquidity
Account
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 01/02/2024 31846V567 401.34 First American Govt Obligation MMKT Class-Z
1.000 5.23% 401.34 0.00 401.34 0.00
Purchase 01/09/2024 31846V567 2,500,000.00 First American Govt Obligation MMKT Class-Z
1.000 5.23% 2,500,000.00 0.00 2,500,000.00 0.00
Purchase 01/17/2024 912797GB7 2,750,000.00 US Treasury Bill
4.993% Due 7/11/2024
97.559 5.19% 2,682,875.25 0.00 2,682,875.25 0.00
Subtotal 5,250,401.34 5,183,276.59 0.00 5,183,276.59 0.00 TOTAL ACQUISITIONS 5,250,401.34 5,183,276.59 0.00 5,183,276.59 0.00
DISPOSITIONS
Sale 01/17/2024 31846V567 2,682,875.25 First American Govt Obligation MMKT Class-Z
1.000 5.23% 2,682,875.25 0.00 2,682,875.25 0.00
Subtotal 2,682,875.25 2,682,875.25 0.00 2,682,875.25 0.00 Maturity 01/09/2024 912797HY6 2,500,000.00 US Treasury Bill
5.313% Due 1/9/2024
100.000 2,456,835.94 43,164.06 2,500,000.00 0.00
Subtotal 2,500,000.00 2,456,835.94 43,164.06 2,500,000.00 0.00 TOTAL DISPOSITIONS 5,182,875.25 5,139,711.19 43,164.06 5,182,875.25 0.00
OTHER TRANSACTIONS
Dividend 01/02/2024 31846V567 255,264.98 First American Govt Obligation MMKT Class-Z
0.000 401.34 0.00 401.34 0.00
Subtotal 255,264.98 401.34 0.00 401.34 0.00
TOTAL OTHER TRANSACTIONS 255,264.98 401.34 0.00 401.34 0.00 62 TRANSACTION LEDGER
Murrieta Liquidity | Account | As of February 29,2024
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 02/02/2024 31846V567 2,866.96 FIRST AMER:GVT OBLG Z 1.000 5.20% (2,866.96) 0.00 (2,866.96) 0.00 Total Purchase 2,866.96 (2,866.96) 0.00 (2,866.96) 0.00 TOTAL ACQUISITIONS 2,866.96 (2,866.96) 0.00 (2,866.96) 0.00 OTHER
TRANSACTIONS
Dividend 02/29/2024 31846V567 0.00 FIRST AMER:GVT OBLG Z 5.19% 299.52 0.00 299.52 0.00 Total Dividend 0.00 299.52 0.00 299.52 0.00
TOTAL OTHER
TRANSACTIONS 0.00 299.52 0.00 299.52 0.00
63 TRANSACTION LEDGER
Murrieta Liquidity | Account | As of March 31,2024
Transaction Type Settlement
Date CUSIP Quantity Security Description Price Acq/DispYield Amount Interest Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 03/04/2024 31846V567 299.52 FIRST AMER:GVT OBLG Z 1.000 5.17% (299.52) 0.00 (299.52) 0.00 Purchase 03/07/2024 31846V567 33,066.49 FIRST AMER:GVT OBLG Z 1.000 5.17% (33,066.49) 0.00 (33,066.49) 0.00 Purchase 03/07/2024 912797HT7 2,500,000.00 UNITED STATES TREASURY 06/06/2024 98.677 5.39% (2,466,933.51) 0.00 (2,466,933.51) 0.00 Total Purchase 2,533,366.01 (2,500,299.52) 0.00 (2,500,299.52) 0.00 TOTAL ACQUISITIONS 2,533,366.01 (2,500,299.52) 0.00 (2,500,299.52) 0.00
DISPOSITIONS
Maturity 03/07/2024 912797GQ4 (2,500,000.00) UNITED STATES TREASURY 03/07/2024 100.000 0.00% 2,500,000.00 0.00 2,500,000.00 64,379.34 Total Maturity (2,500,000.00) 2,500,000.00 0.00 2,500,000.00 64,379.34 TOTAL DISPOSITIONS (2,500,000.00) 2,500,000.00 0.00 2,500,000.00 64,379.34 OTHER
TRANSACTIONS
Dividend 03/31/2024 31846V567 0.00 FIRST AMER:GVT OBLG Z 5.20% 439.18 0.00 439.18 0.00 Total Dividend 0.00 439.18 0.00 439.18 0.00
TOTAL OTHER
TRANSACTIONS 0.00 439.18 0.00 439.18 0.00
64 Important Disclosures
2024 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.
Information contained herein is confidential. Prices are provided by ICE Data Services Inc (“IDS”), an independent pricing source. In the event IDS does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.
Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.
Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index.
Source ICE Data Indices, LLC ("ICE"), used with permission. ICE permits use of the ICE indices and related data on an "as is" basis; ICE, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliates or their respective third party providers guarantee the quality, adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an "as is" basis and licensee's use it at licensee's own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend chandler asset management, or any of its products or services.
This report is provided for informational purposes only and should not be construed as a 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 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, credit and market risk. Interest rate risk: the value of fixed income investments will decline 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.
Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.
Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P, Moody’s and Fitch respectively.
Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account.
As of March 31, 2024
65 Benchmark Disclosures
ICE BofA 1-3 Yr US Treasury Index
The ICE BofA 1-3 Year US Treasury Index tracks the performance of US dollar-denominated sovereign debt publicly issued by the US government in its domestic market. Qualifying securities must have at least one year remaining term to final maturity and less than three years remaining term to final maturity, a fixed coupon schedule, and a minimum amount outstanding of $1 billion. Qualifying securities must have at least 18 months to final maturity at the time of issuance.
As of March 31, 2024
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