A
TTACHMENT A
Treasurer’s Investment Report
INVESTMENT REPORT
City of Palm Springs | As of June 30, 2026
CHANDLER ASSET MANAGEMENT | chandlerasset.com
Chandler Team:
For questions about your account, please call (800) 317-4747, or contact [email protected]
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.
TABLE OF CONTENTS
ECONOMIC UPDATE
ACCOUNT PROFILE
CONSOLIDATED INFORMATION
PORTFOLIO HOLDINGS
TRANSACTIONS
1 ECONOMIC UPDATE
2 ▪
▪
▪
Energy prices and inflation remained the primary drivers of the macro backdrop as the U.S.-Israel-Iran conflict entered its third month, disrupting global oil supply. Headline CPI accelerated at the fastest pace in more than three years, reflecting volatility in the energy component. Crude oil, however, retraced roughly 20% from its May–early June peak as diplomatic progress between the United States and Iran pointed to a potential framework for de-escalation. The labor market remained resilient, with continued payroll growth and subdued jobless claims. Risk assets held firm, as equities hovered near record highs and credit spreads remained historically tight amid broadly better-than-expected corporate earnings. Taken together, the current market environment has further constrained the case for near-term monetary policy easing, leading the Chandler team to push out its expected timing for rate cuts beyond the six-month investment horizon.
The Federal Reserve’s June FOMC meeting ended with policymakers unanimously holding the target range at 3.50%–3.75%, a notable shift from the8–4 split at April’s meeting, which marked JeromePowell’s final session as Chair. Under new Chair Kevin Warsh, sworn in on May 22, the Committee released an unusually concise statement that referenced Middle East tensions and energy supply disruptions while removing prior forward guidance that had suggested a bias toward rate cuts. Updated projections leaned more hawkish, with 9 of 18 officials expecting at least one rate hike this year and 6 anticipating multiple increases. The shift signals that restoring price stability has reemerged as the central focus of monetary policy deliberations.
The Treasury yield curve flattened modestly in June as short-term yields responded to a more hawkish shift in Federal Reserve guidance.
The 2-year yield rose to 4.15% from 3.98% the prior month, while the 10-year yield edged down slightly to 4.44% from 4.45%. As a result, the 2s/10s spread narrowed to 29 basis points, down from roughly 47 basis points a month earlier and significantly below the 69 basis point spread at the start of the year. Meanwhile, the 3-month/10-year spread remained positive at 64 basis points. Front-end rates absorbed the bulk of the Fed’s updated rate outlook, while longer maturities were partly anchored by a late-month decline in oil prices.
ECONOMIC UPDATE
3 -400
-200
0 200
400
600
800
1,000MOM Change In Thousands (000's)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3-month average (000's)
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
Nonfarm payrolls increased by just 57,000 in June, well below the 113,000 consensus and marking a sharp slowdown from May’s pace. The unemployment rate edged down to 4.2%, though the decline was driven by a drop in labor force participation to 61.5%, its lowest level since March 2021. Revisions further weakened the report’s signal. April payrolls were revised down by 31,000 to 148,000, while May was lowered by 43,000 to 129,000, resulting in a combined two-month downward revision of 74,000.
Source: US Department of Labor Source: US Department of Labor
EMPLOYMENT
4 0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Job Openings
Recession
Historical Average
In Thousands (000's)
Job openings were essentially unchanged at 7.6 million in May, remaining elevated by historical standards even as hiring momentum moderates. Gains in wholesale trade and accommodation and food services were offsetby declines in health care and social assistance, as well as finance and insurance. April openings were revised down by 33,000 to 7.6 million, while hires were revised up by 99,000, highlighting ongoing churn but a broadly stable labor market backdrop.
Source: US Department of Labor
JOB OPENINGS & LABOR TURNOVER SURVEY
5 Source: Bloomberg Indices Source: Bloomberg Indices
ENERGY MARKETS
Crude oil prices declined sharply in June as supply disruptions tied to the Middle East conflict began to ease. Tanker traffic through the Strait of Hormuz normalized, and signs of progress in U.S.–Iran negotiations helped unwind the geopolitical risk premium that had driven prices higher earlier in the year. West Texas Intermediate settled near $69.37 per barrel on June 30, while Brent crude closed around $72.96, both well below their recent peaks. Brent’s 21% monthly decline marked its steepest drop since March 2020, while WTI fell more than 20%, its largest monthly loss since late 2021. Beyond crude, broader energy markets also softened. Refined product cracks narrowed as gasoline and diesel demand showed signs of seasonal moderation, while U.S. natural gas prices remained range-bound amid ample storage and steady production. Taken together, the retracement in oil and broader energy prices reflects a rapid compression in geopolitical risk premia and improved near-term supply visibility, even as underlying structural risks in the region remain unresolved.
2.00 2.50
3.00 3.50
4.00 4.50
5.00 5.50
6.00 6.50
US Fuel Prices
Average Retail Price US Diesel
Average Retail Price US Gas
($) Per Gallon
40 60
80 100
120
140
160
Oil Prices
West Texas Intermediate (WTI Spot Cushing)
Dated Brent (Global Spot)
Price Per Barrel (WTI Spot)
6 0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY %
Change
PCE Core Deflator YOY %
Change
Fed Target
YOY (%) Change
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
Inflation firmed in May, with the Personal Consumption Expenditures (PCE) price index rising 0.4% on the month and 4.1% year over year, up from 3.8% in April and marking the highest annual rate of the current cycle. Core PCE, which excludes food and energy, increased 0.3% in May and 3.4% over the year. Energy prices remained the primary driverof the headline acceleration, reflecting supply disruptions tied to the Iranian conflict. A similar pattern was evident in the headline Consumer Price Index (CPI), which rose 0.5% on the month and 4.2% year over year, the fastest annual pace since 2023. Energy prices climbed 3.9% in May and 23.5% from a year earlier, largely due to crude oil reaching a four-year high. In contrast, core CPI rose a more modest 0.2% on the month and 2.9% year over year, indicating that inflation pressures remain concentrated in energy rather than broad-based.
Source: US Department of Labor Source: US Department of Commerce
INFLATION
7 0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
Retail Sales YOY % Change
YOY (%) Change
Retail sales rose a robust 0.9% in May to $763.7 billion, nearly double the pace economists had penciled in and an acceleration from April's downwardly revised 0.4% gain. The closely watched control group, which feeds directly into gross domestic product calculations, advanced
0.7%, pointing to durable underlying demand. Gasoline station receipts roseas energy prices stayed high, while auto sales rebounded after an April pullback. The Conference Board's Consumer Confidence Index tickedup 0.6 points to 91.2 in June, though the improvement masked a further deterioration in how households view the job market, with the share calling jobs ‘hard-to-get’ climbing to a five year high.
Spending has proven more resilient than sentiment across recent months. 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)
CONSUMER
8 -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) edged up 0.1% in May to 99.3, following a revised 0.2% increase in April. Despite the monthly gains, the LEI’s six- and twelve-month growth rates remained negative at -0.6% and -1.5%, respectively. The advance was driven primarily by financial components, including equity prices and the interest rate spread, while consumer expectations continuedto weigh on the index. The Chicago Fed National Activity Index fell to -0.10 in May from an upwardly revised 0.19 in April. Production-related and employment-related indicators each subtracted from the index, while the sales, orders, and inventories category made a small positive contribution.
Source: The Conference Board Source: Federal Reserve Bank of Chicago
LEADING INDICATORS OF ECONOMIC ACTIVITY
9 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 declined sharply in May to a seasonally adjusted annual rate of 1,177,000, a 15.4% drop from a downwardly revised 1,392,000 in April. The pullback was driven primarily by multifamily construction, while single-family starts edged down a more modest
1.9% to 882,000; total multifamily starts came in at 295,000 units. The S&P CoreLogic Case-Shiller 20-City Composite rose 1.1% year over year in April, marking its first pickup since November 2025, following an upwardly revised 0.9% gain in March. Freddie Mac’s average 30- year fixed mortgage rate increased to 6.44% in May from 6.33% in April, reinforcing ongoing affordability constraints for prospective buyers.
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
HOUSING
10 40
45 50
55 60
65 70
Institute of Supply Management (ISM) Surveys
ISM Manufacturing ISM Services
EXPANDING
CONTRACTING
Manufacturing activity cooled slightly in June, with the Institute for Supply Management's Manufacturing Index easing to 53.3%, down 0.7 percentage point from May but still marking a sixth consecutive month of expansion. Services activity also moderated, as the ISM Services Index eased to 54.0% from 54.5%, a twenty-fourth consecutive monthin expansion territory. Business activity and new orders both slowed, though the employment component jumpedto 51.2% from 47.9%, its strongest reading since late 2021 and the first expansion in services hiring in four months.
Source: Institute for Supply Management
PURCHASING MANAGERS INDEX (PMI)
11 Components of GDP 6/25 9/25 12/25 3/26
1.7% 2.3% 1.3% 0.4%
-2.7% 0.0% 0.4% 1.4%
4.8% 1.6% -0.2% -0.4%
-0.4% 0.2% -1.2% 0.6%
0.3% 0.2% 0.2% 0.2%
3.8% 4.4% 0.5% 2.1%
Personal Consumption Expenditures
Gross Private Domestic Investment
Net Exports and Imports
Federal Government Expenditures
Total
State and Local (Consumption and Gross
Investment)
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
Source: US Department of Commerce Source: US Department of Commerce Real gross domestic product increased at an annualized rate of 2.1% in the first quarter of 2026, according to the Bureau of Economic Analysis’ third estimate, up from 1.6%in the prior estimate andan acceleration from 0.5% in the fourth quarterof 2025. The 0.5 percentage point upward revision was driven primarily by a downward revision to imports—which subtract from GDP—partly offset by a downward revision to consumer spending.
GROSS DOMESTIC PRODUCT (GDP)
12 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
The Federal Open Market Committee (FOMC) held the target range for the federal funds rate at 3.50% to 3.75% at its June 16–17 meeting, with a unanimous 12–0 vote. This marked a notable shift from the Aprilmeeting—Jerome Powell’slast as chair—which saw four dissents in an 8–4 decision. The return to consensus under Chair Kevin Warsh signals a clear change in tone. Minutes from the June meeting are scheduled for release in early July. The June Summaryof Economic Projections reflected a more hawkish outlook. The median projection for the federal funds rate at year-end 2026 rose to 3.8%, up from 3.4%in March, before easing to 3.6% in 2027 and 3.4% in 2028. Officials also revised their inflation forecasts, with headline PCE projected at 3.6% in 2026 (from 2.7%) and core PCE at 3.3%. By contrast, median projections for real GDP growth and the unemployment rate—2.2% and 4.3%, respectively—were little changed.
FEDERAL RESERVE
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Effective Federal Funds Rate
Recession
Yield (%)
13 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 (%)
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
US Treasury Yield Curve
Jun-26
Mar-26
Jun-25
Yield (%)
Treasury yields ended June mixed, with a modest flattening across the curve as markets digested a more hawkish Federal Reserve signal.
The 2-year yield rose to 4.15% from 3.98% at the end of May, while the 10-year yield edged down to 4.44% from 4.45%. The 2s/10s spread narrowedto 29 basis points, down from 47 basis points a month earlier. The 3-month/10-year spread remained positive at roughly 64 basis points at month-end. Relativeto the 69 basis point spread at the start of 2026, the curve has flattened materially year to date, reflecting a repricing higher in front-end rates as expectations shift toward the possibility of further Fed tightening rather than easing.
BOND YIELDS
14 PERIODIC TABLE OF ASSET CLASS RETURNS
As of June 30, 2026
Index returns as of 6/30/2026. Past performance is not indicative of future results. Index returns assume reinvestment of all distributions and do not reflect fees or expenses. It is not possible to invest directly in an index. This information is not intended to constitute an offer, solicitation, recommendation, or advice regarding securities or investment strategy. Please see attached Asset Class Disclosure. 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 YTD 2026 US Mid Cap
Stocks
20.7%
Emerging Market
Stocks
37.3%
International
Bonds
3.2%
US Large Cap
Stocks
31.5%
US Small Cap
Stocks
19.1%
US Real Estate
42.8%
Diversified
Commodities
16.1%
US Large Cap
Stocks
26.3%
US Large Cap
Stocks
25.0%
Emerging Market
Stocks
33.6%
Emerging Market
Stocks
23.8%
US Small Cap
Stocks
18.3%
International
Stocks
24.2%
US Core Bonds
0.0%
US Small Cap
Stocks
27.3%
US Large Cap
Stocks
18.4%
US Large Cap
Stocks
28.7%
International
Bonds
-9.8%
US Small Cap
Stocks
18.1%
US Small Cap
Stocks
14.2%
International
Stocks
31.9%
US Small Cap
Stocks
18.2%
US High Yield
Bonds
17.5%
US Large Cap
Stocks
21.8%
US High Yield
Bonds
-2.3%
US Mid Cap
Stocks
26.2%
Emerging Market
Stocks
18.3%
Diversified
Commodities
27.1%
US High Yield
Bonds
-11.2%
International
Stocks
17.9%
US Mid Cap
Stocks
13.9%
International Real
Estate
25.2%
US Real Estate
17.6%
US Large Cap
Stocks
12.0%
International Real
Estate
20.0%
US Real Estate
-3.9%
US Real Estate
24.3%
US Mid Cap
Stocks
13.7%
US Mid Cap
Stocks
24.8%
US Mid Cap
Stocks
-13.1%
US Mid Cap
Stocks
16.4%
US High Yield
Bonds
8.2%
US Large Cap
Stocks
17.9%
US Mid Cap
Stocks
17.3%
Diversified
Commodities
11.8%
US Mid Cap
Stocks
16.2%
US Large Cap
Stocks
-4.4%
International
Stocks
22.5%
International
Stocks
7.6%
US Small Cap
Stocks
17.7%
US Core Bonds
-13.2%
US High Yield
Bonds
13.5%
US Real Estate
7.9%
Diversified
Commodities
15.8%
Diversified
Commodities
14.4%
Emerging Market
Stocks
11.2%
US Small Cap
Stocks
16.2%
International Real
Estate
-6.4%
International Real
Estate
21.0%
US Core Bonds
7.6%
International
Stocks
12.6%
International
Stocks
-14.3%
US Real Estate
13.3%
Emerging Market
Stocks
7.5%
US Small Cap
Stocks
8.8%
US Large Cap
Stocks
10.2%
US Real Estate
7.6%
US High Yield
Bonds
7.5%
US Small Cap
Stocks
-9.3%
Emerging Market
Stocks
18.4%
US High Yield
Bonds
6.2%
International Real
Estate
8.1%
US Small Cap
Stocks
-17.6%
Emerging Market
Stocks
9.8%
Diversified
Commodities
5.4%
US High Yield
Bonds
8.5%
International
Stocks
9.2%
International
Bonds
4.9%
US Real Estate
3.9%
US Mid Cap
Stocks
-11.1%
US High Yield
Bonds
14.4%
International
Bonds
3.9%
US High Yield
Bonds
5.4%
US Large Cap
Stocks
-18.1%
International
Bonds
8.3%
International
Bonds
5.0%
US Mid Cap
Stocks
7.5%
US High Yield
Bonds
1.9%
International
Stocks
2.7%
US Core Bonds
3.6%
Diversified
Commodities
-11.2%
US Core Bonds
8.9%
Diversified
Commodities
-3.1%
International
Bonds
-1.4%
Emerging Market
Stocks
-20.1%
International Real
Estate
6.3%
International
Stocks
4.7%
US Core Bonds
7.1%
International
Bonds
1.6%
US Core Bonds
2.6%
International
Bonds
2.5%
International
Stocks
-14.1%
Diversified
Commodities
7.7%
International Real
Estate
-7.1%
US Core Bonds
-1.6%
International Real
Estate
-24.3%
US Core Bonds
5.4%
US Core Bonds
1.5%
International
Bonds
2.8%
US Core Bonds
0.8%
International Real
Estate
1.3%
Diversified
Commodities
1.7%
Emerging Market
Stocks
-14.6%
International
Bonds
7.6%
US Real Estate
-9.6%
Emerging Market
Stocks
-2.5%
US Real Estate
-24.8%
Diversified
Commodities
-7.9%
International Real
Estate
-8.4%
US Real Estate
2.7%
International Real
Estate
-2.0%
15 ACCOUNT PROFILE
16 OBJECTIVES
Investment Objectives
The investment objectives of the City of Palm Springs are first, to provide safety of principal to ensure the preservation of capital in the overall portfolio; second, to provide adequate liquidity to meet all requirements which might be reasonably anticipated; and third, to earn a commensurate rate of return.
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.
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. 17 STATEMENT OF COMPLIANCE
City of Palm Springs | Account #10805 | As of June 30, 2026 Rules Name Limit Actual Compliance
Status Notes
AGENCY MORTGAGE SECURITIES
Max % (MV) 20.0 6.7 Compliant
Max Maturity (Years) 5.0 4.4 Compliant
ASSET-BACKED SECURITIES (ABS)
Max % (MV) 20.0 3.1 Compliant
Max % Issuer (MV) 5.0 1.2 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
BANKERS' ACCEPTANCES
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant
Min Rating (A-1 by 3) 0.0 0.0 Compliant
CERTIFICATE OF DEPOSIT PLACEMENT SERVICE
(CDARS)
Max % (MV) 30.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
COLLATERALIZED TIME DEPOSITS (NON-
NEGOTIABLE CD/TD)
Max % (MV) 20.0 0.0 Compliant
Max Issuer Amount (MV) 250,000.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (A-1 by 2; A- by 2) 0.0 0.0 Compliant
COMMERCIAL PAPER
Max % (MV) 40.0 1.8 Compliant
Max % Issuer (MV) 5.0 1.8 Compliant
Max Maturity (Days) 397 93 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant
CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 24.9 Compliant
18 STATEMENT OF COMPLIANCE
City of Palm Springs | Account #10805 | As of June 30, 2026 Rules Name Limit Actual Compliance
Status Notes
Max % Issuer (MV) 5.0 1.2 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant
FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
FEDERAL AGENCIES
Max % (MV) 60.0 19.6 Compliant
Max Callables (MV) 20.0 2.1 Compliant
Max Maturity (Years) 5 2 Compliant
LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV) 75.0 0.0 Compliant
LOCAL GOVERNMENT INVESTMENT POOL (LGIP)
Max % (MV) 20.0 0.0 Compliant
MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 0.1 Compliant
Max % Issuer (MV) 20.0 0.1 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant
MORTGAGE -BACKED SECURITIES (NON-AGENCY)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 15.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant
MUTUAL FUNDS
19 STATEMENT OF COMPLIANCE
City of Palm Springs | Account #10805 | As of June 30, 2026 Rules Name Limit Actual Compliance
Status Notes
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 10.0 0.0 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant
NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 2 or A-1 by 2 if > FDIC Limit) 0.0 0.0 Compliant
SRI PROHIBITED INVESTMENTS
Prohibited Investments - Firearms 0.0 0.0 Compliant
SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 10.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 43.7 Compliant
Max Maturity (Years) 5 4 Compliant
20 PORTFOLIO CHARACTERISTICS
City of Palm Springs | Account #10805 | As of June 30, 2026 Benchmark* 6/30/2026
Portfolio
6/30/2025
Portfolio
Average Maturity (yrs) 2.64 2.33 2.35
Average Modified Duration 2.46 2.05 2.11
Average Purchase Yield 4.07% 3.91%
Average Market Yield 4.16% 4.23% 3.97%
Average Quality** AA+ AA+ AA+
Total Market Value 432,147,811 417,459,258
*Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index **The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 21 SECTOR DISTRIBUTION
City of Palm Springs | Account #10805 | As of June 30, 2026 Sector as a Percentage of Market Value
Sector 06/30/2026 06/30/2025
US Treasury 43.67% 44.96%
Corporate 24.85% 20.17%
Agency 19.64% 24.97%
Agency CMBS 6.74% 4.14%
ABS 3.12% 2.43%
Comm Paper 1.85% --
Money Mkt Fd 0.12% 2.12%
Supras -- 1.19%
22 ISSUERS
City of Palm Springs | Account #10805 | As of June 30, 2026 Issuer Investment Type % Portfolio
United States US Treasury 43.67%
Farm Credit System Agency 10.48%
Federal Home Loan Banks Agency 9.15%
Federal Home Loan Mortgage Corp Agency CMBS 6.74%
Mitsubishi UFJ Financial Group, Inc. Comm Paper 1.85%
Eli Lilly and Company Corporate 1.18%
PepsiCo, Inc. Corporate 1.18%
Mercedes-Benz Auto Lease Trust ABS 1.17%
GM Financial Auto Leasing Trust ABS 1.17%
The Goldman Sachs Group, Inc. Corporate 1.17%
BNY Mellon Corp Corporate 1.17%
Toyota Motor Corporation Corporate 1.17%
Deere & Company Corporate 1.17%
NVIDIA Corporation Corporate 1.16%
CME Group Inc. Corporate 1.16%
Merck & Co., Inc. Corporate 1.15%
Alphabet Inc. Corporate 1.15%
Bank of America Corporation Corporate 0.94%
JPMorgan Chase & Co. Corporate 0.94%
Pfizer Inc. Corporate 0.93%
Mastercard Incorporated Corporate 0.93%
Morgan Stanley Corporate 0.92%
Visa Inc. Corporate 0.92%
Amazon.com, Inc. Corporate 0.91%
The Home Depot, Inc. Corporate 0.84%
Chase Issuance Trust ABS 0.78%
Target Corporation Corporate 0.75%
Caterpillar Inc. Corporate 0.71%
PACCAR Inc Corporate 0.70%
Northern Trust Corporation Corporate 0.70%
23 ISSUERS
City of Palm Springs | Account #10805 | As of June 30, 2026 Issuer Investment Type % Portfolio
Microsoft Corporation Corporate 0.70%
The Procter & Gamble Company Corporate 0.59%
U.S. Bancorp Corporate 0.47%
Costco Wholesale Corporation Corporate 0.46%
Apple Inc. Corporate 0.46%
State Street Corporation Corporate 0.35%
Allspring Group Holdings LLC Money Mkt Fd 0.12%
Cash Cash 0.01%
TOTAL 100.00%
24 QUALITY DISTRIBUTION
City of Palm Springs | Account #10805 | As of June 30, 2026 S&P Rating Moody’s Rating Fitch Rating
Rating 06/30/2026 06/30/2025
AAA 5.37% 8.03%
AA 76.55% 74.68%
A 16.24% 16.10%
A-1+ -- 1.19%
A-1 1.83% --
Rating 06/30/2026 06/30/2025
Aaa 3.12% 5.44%
Aa 78.40% 77.86%
A 13.54% 13.09%
P-1 1.83% 1.19%
NA 3.10% 2.42%
Rating 06/30/2026 06/30/2025
AAA 7.20% 4.66%
AA 73.15% 74.38%
A 6.00% 6.50%
F1+ -- 1.19%
NA 13.65% 13.27%
25 DURATION DISTRIBUTION
City of Palm Springs | Account #10805 | As of June 30, 2026 Date 0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
06/30/2026 6.7% 2.8% 13.7% 22.7% 34.4% 13.4% 6.3% 0.0% 0.0% 06/30/2025 8.7% 2.3% 11.3% 23.9% 22.7% 28.0% 3.1% 0.0% 0.0% 26 DURATION DISTRIBUTION
City of Palm Springs | Account #10805 | As of June 30, 2026 Portfolio Compared to the Benchmark
0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
Portfolio 6.7% 2.8% 13.7% 22.7% 34.4% 13.4% 6.3% 0.0% 0.0% ICE BofA 1-5 Year Unsubordinated US Treasury &
Agency Index 0.0% 0.0% 2.5% 36.2% 28.4% 20.6% 12.3% 0.0% 0.0% 27 DURATION ALLOCATION
City of Palm Springs | Account #10805 | As of June 30, 2026 0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
06/30/2026 6.7% 2.8% 13.7% 22.7% 34.4% 13.4% 6.3% 0.0% 0.0% 28 INVESTMENT PERFORMANCE
City of Palm Springs | Account #10805 | As of June 30, 2026 Total Rate of Return: Inception | 04/01/2021
TOTAL RATE OF RETURN* 3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception City of Palm Springs 0.46% 3.27% 4.64% 4.62% 2.33% 2.22% Benchmark 0.24% 2.71% 4.37% 4.30% 1.52% 1.46%
*Periods over 1 year are annualized.
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 market value; it includes interest earnings, realized and unrealized gains and losses in the portfolio.
Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index 29 PORTFOLIO CHARACTERISTICS
City of Palm Springs Reporting | Account #10806 | As of June 30, 2026 6/30/2026
Portfolio
6/30/2025
Portfolio
Average Maturity (yrs) 0.00 0.00
Average Modified Duration 0.00 0.00
Average Purchase Yield 3.84% 4.27%
Average Market Yield 3.84% 4.27%
Average Quality** AAA AAA
Total Market Value 39,104,489 65,774,404
*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 30 SECTOR DISTRIBUTION
City of Palm Springs Reporting | Account #10806 | As of June 30, 2026 Sector as a Percentage of Market Value
Sector 06/30/2026 06/30/2025
LAIF 80.46% 88.25%
LGIP 18.94% 10.86%
Cash 0.60% 0.89%
31 CONSOLIDATED INFORMATION
32 PORTFOLIO CHARACTERISTICS
City of Palm Springs Cons | Account #10807 | As of June 30, 2026 6/30/2026
Portfolio
6/30/2025
Portfolio
Average Maturity (yrs) 2.13 2.03
Average Modified Duration 1.88 1.82
Average Purchase Yield 4.05% 3.96%
Average Market Yield 4.20% 4.01%
Average Quality** AA+ AA+
Total Market Value 471,252,301 483,233,662
*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 33 SECTOR DISTRIBUTION
City of Palm Springs Cons | Account #10807 | As of June 30, 2026 Sector as a Percentage of Market Value
Sector 06/30/2026 06/30/2025
US Treasury 40.02% 38.80%
Corporate 22.77% 17.41%
Agency 18.00% 21.55%
LAIF 6.73% 12.09%
Agency CMBS 6.17% 3.57%
ABS 2.86% 2.10%
Comm Paper 1.69% --
LGIP 1.58% 1.49%
Money Mkt Fd 0.11% 1.83%
Cash 0.06% 0.13%
Supras -- 1.03%
34 PORTFOLIO HOLDINGS
35 HOLDINGS REPORT
City of Palm Springs | Account #10805 | As of June 30, 2026 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
362962AD4 GMALT 2025-2 A3 4.58
05/22/2028 5,000,000.00 05/27/2025
4.77%
5,005,664.06
5,002,666.32
100.23
4.29%
5,011,355.00
6,997.22
1.17%
8,688.68
NA/AAA
AAA
1.90 0.68
58768YAD7 MBALT 2025-A A3 4.61
04/16/2029 5,000,000.00 05/19/2025
4.54%
5,012,304.69
5,007,282.14
100.31
4.42%
5,015,650.00
10,244.44
1.17%
8,367.86
NA/AAA
AAA
2.79 1.34
161571HW7 CHAIT 2024-2 A 4.63 01/15/2031 3,334,000.00 04/28/2026
4.15%
3,378,019.22
3,375,226.46
100.65
4.40%
3,355,821.03
6,860.63
0.78%
(19,405.43)
NA/AAA
AAA
4.54 2.34
Total ABS 13,334,000.00 4.53%
13,395,987.97
13,385,174.92
100.37
4.37%
13,382,826.03
24,102.30
3.12%
(2,348.89)
2.90 1.35
AGENCY
3130ANMH0 FEDERAL HOME LOAN BANKS 1.1
08/20/2026 2,000,000.00 09/08/2022
3.68%
1,810,600.00
1,993,428.17
99.62 3.90%
1,992,376.00
8,005.56
0.46%
(1,052.17)
Aa1/AA+
AA+
0.14 0.14
3133EMNW8 FEDERAL FARM CREDIT BANKS
FUNDING CORP 0.7 01/27/2027 2,000,000.00 04/25/2022
3.01%
1,795,000.00
1,975,215.89
98.11 4.08%
1,962,134.00
5,988.89
0.46%
(13,081.89)
Aa1/AA+
AA+
0.58 0.56
3130AL5A8 FEDERAL HOME LOAN BANKS 0.9
02/26/2027 5,000,000.00 --
3.15%
4,501,000.00
4,931,116.33
97.99 4.06%
4,899,275.00
15,625.00
1.14%
(31,841.33)
Aa1/AA+
AA+
0.66 0.64
3133EPBM6 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.125 08/23/2027 3,800,000.00 02/24/2023
4.36%
3,763,862.00
3,790,777.97
99.97 4.15%
3,798,977.80
55,733.33
0.89%
8,199.83
Aa1/AA+
AA+
1.15 1.09
3130ATUS4 FEDERAL HOME LOAN BANKS 4.25
12/10/2027 6,000,000.00 01/25/2023
3.63%
6,162,990.00
6,048,283.15
100.08
4.19%
6,004,500.00
14,875.00
1.40%
(43,783.15)
Aa1/AA+
AA+
1.45 1.38
3133EPAV7 FEDERAL FARM CREDIT BANKS
FUNDING CORP 3.875 02/14/2028 6,000,000.00 02/14/2023
4.07%
5,948,760.00
5,983,350.51
99.38 4.27%
5,962,866.00
88,479.17
1.39%
(20,484.51)
Aa1/AA+
AA+
1.63 1.53
3130ATS57 FEDERAL HOME LOAN BANKS 4.5
03/10/2028 6,000,000.00 03/30/2023
3.89%
6,163,404.00
6,055,915.65
100.53
4.17%
6,031,854.00
83,250.00
1.41%
(24,061.65)
Aa1/AA+
AA+
1.70 1.59
3133EPGW9 FEDERAL FARM CREDIT BANKS
FUNDING CORP 3.875 04/25/2028 5,000,000.00 04/26/2023
3.64%
5,053,550.00
5,019,483.40
99.50 4.16%
4,975,220.00
35,520.83
1.16%
(44,263.40)
Aa1/AA+
AA+
1.82 1.72
3133EPNH4 FEDERAL FARM CREDIT BANKS
FUNDING CORP 3.875 06/21/2028 7,000,000.00 06/22/2023
4.10%
6,928,110.00
6,971,598.53
99.44 4.17%
6,960,751.00
7,534.72
1.62%
(10,847.53)
Aa1/AA+
AA+
1.98 1.88
3130AWTR1 FEDERAL HOME LOAN BANKS
4.375 09/08/2028 5,000,000.00 10/19/2023
5.04%
4,856,850.00
4,935,843.14
100.40
4.18%
5,019,795.00
68,663.19
1.17%
83,951.86
Aa1/AA+
AA+
2.19 2.04
3130AXQK7 FEDERAL HOME LOAN BANKS 4.75
12/08/2028 7,100,000.00 01/23/2024
4.10%
7,299,865.00
7,200,044.78
101.29
4.19%
7,191,632.60
21,546.53
1.68%
(8,412.18)
Aa1/AA+
AA+
2.44 2.28
36 HOLDINGS REPORT
City of Palm Springs | Account #10805 | As of June 30, 2026 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
3133EWKC3 FEDERAL FARM CREDIT BANKS
FUNDING CORP 3.875 03/27/2029 8,000,000.00 04/27/2026
3.85%
8,006,160.00
8,005,789.47
99.15 4.20%
7,932,344.00
80,944.44
1.85%
(73,445.47)
Aa1/AA+
AA+
2.74 2.55
3133ERAK7 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.375 04/10/2029 5,200,000.00 04/25/2024
4.71%
5,122,780.00
5,156,739.73
100.50
4.18%
5,226,057.20
51,187.50
1.22%
69,317.47
Aa1/AA+
AA+
2.78 2.57
3133ERDH1 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.75 04/30/2029 8,000,000.00 05/07/2024
4.53%
8,077,200.00
8,043,908.03
101.52
4.17%
8,121,992.00
64,388.89
1.89%
78,083.97
Aa1/AA+
AA+
2.83 2.61
3130B1BC0 FEDERAL HOME LOAN BANKS
4.625 06/08/2029 8,000,000.00 06/06/2024
4.35%
8,097,920.00
8,057,508.57
101.20
4.19%
8,096,064.00
23,638.89
1.89%
38,555.43
Aa1/AA+
AA+
2.94 2.72
83,588,051.00 100.10 84,175,838.60 19.64% 2.04
Total Agency 84,100,000.00 4.08% 84,169,003.34 4.17% 625,381.94 6,835.26 1.91
AGENCY CMBS
3137BSRE5 FHMS K-059 A2 3.12 09/25/2026 2,322,470.67 02/18/2022
1.98%
2,422,264.33
2,326,220.49
99.58 4.13%
2,312,797.58
6,038.42
0.54%
(13,422.91)
Aa1/AAA
AAA
0.24 0.21
3137H4BY5 FHMS K-746 A2 2.031 09/25/2028 7,000,000.00 10/18/2023
5.43%
5,993,476.56
6,550,325.02
94.97 4.43%
6,647,907.00
11,847.50
1.55%
97,581.98
Aa1/AA+
AAA
2.24 2.09
3137FK4M5 FHMS K-085 A2 4.06 10/25/2028 4,000,000.00 07/28/2025
4.17%
3,980,312.50
3,986,007.93
99.03 4.42%
3,961,204.00
13,533.33
0.92%
(24,803.93)
Aaa/AA+
AA+
2.32 2.13
3137FKZZ2 FHMS K-088 A2 3.69 01/25/2029 4,000,000.00 05/01/2025
3.97%
3,956,406.25
3,970,143.50
98.12 4.43%
3,924,856.00
12,300.00
0.92%
(45,287.50)
Aaa/AA+
AA+
2.57 2.33
3137FLN91 FHMS K-091 A2 3.505 03/25/2029 4,000,000.00 05/01/2025
3.98%
3,929,375.00
3,950,689.07
97.59 4.43%
3,903,720.00
11,683.33
0.91%
(46,969.07)
Aa1/AAA
AA+
2.73 2.45
3137HBC51 FHMS K-754 A2 4.94 11/25/2030 8,000,000.00 04/27/2026
4.16%
8,241,250.00
8,232,162.82
101.65
4.48%
8,131,824.00
32,933.33
1.90%
(100,338.82)
Aa1/AA+
AAA
4.41 3.84
28,523,084.64 98.56 28,882,308.58 6.74% 2.81
Total Agency CMBS 29,322,470.67 4.23% 29,015,548.84 4.42% 88,335.92 (133,240.26) 2.52 CASH
CCYUSD Receivable 51,878.58 -- 51,878.58
51,878.58
1.00 51,878.58
0.00 0.01%
0.00 Aaa/AAA
AAA
0.00 0.00
51,878.58 1.00 51,878.58 0.01% 0.00
Total Cash 51,878.58 51,878.58 0.00 0.00 0.00
37 HOLDINGS REPORT
City of Palm Springs | Account #10805 | As of June 30, 2026 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
COMMERCIAL
PAPER
62479MK10 MUFG Bank, Ltd., New York
Branch 10/01/2026 8,000,000.00 02/10/2026
3.72%
7,812,853.33
7,925,786.67
99.01 3.91%
7,920,920.00
0.00 1.85%
(4,866.67)
P-1/A-1
NA
0.25 0.25
Total Commercial
Paper 8,000,000.00 3.72%
7,812,853.33
7,925,786.67
99.01 3.91%
7,920,920.00
0.00 1.85%
(4,866.67)
0.25 0.25
CORPORATE
91159HHN3 US BANCORP 2.375 07/22/2026 2,000,000.00 08/11/2022
3.49%
1,918,340.00
1,998,806.64
99.89 4.21%
1,997,808.00
20,979.17
0.47%
(998.64)
A3/A
A+
0.06 0.06
24422EVB2 JOHN DEERE CAPITAL CORP 2.25
09/14/2026 2,500,000.00 --
3.83%
2,357,655.00
2,492,504.69
99.61 4.15%
2,490,332.50
16,718.75
0.58%
(2,172.19)
A1/A
A+
0.21 0.20
437076CV2 HOME DEPOT INC 4.95
09/30/2026 3,600,000.00 12/21/2023
4.42%
3,647,736.00
3,602,928.59
100.13
4.38%
3,604,500.00
45,045.00
0.84%
1,571.41
A2/A
A
0.25 0.16
717081EA7 PFIZER INC 3.0 12/15/2026 4,000,000.00 --
4.00%
3,852,095.00
3,983,218.88
99.56 3.98%
3,982,380.00
5,333.33
0.93%
(838.88)
A2/A
NA
0.46 0.45
87612EBM7 TARGET CORP 1.95 01/15/2027 3,250,000.00 --
2.59%
3,164,240.00
3,239,551.50
98.83 4.16%
3,212,033.50
29,222.92
0.75%
(27,518.00)
A2/A
NA
0.54 0.52
742718FV6 PROCTER & GAMBLE CO 1.9
02/01/2027 2,550,000.00 01/27/2022
1.93%
2,546,379.00
2,549,573.65
98.78 4.04%
2,518,872.15
20,187.50
0.59%
(30,701.50)
Aa3/AA-
NA
0.59 0.57
594918BY9 MICROSOFT CORP 3.3 02/06/2027 3,000,000.00 01/25/2023
3.96%
2,926,980.00
2,989,079.27
99.47 4.20%
2,984,211.00
39,875.00
0.70%
(4,868.27)
Aaa/AAA
NA
0.61 0.58
57636QAR5 MASTERCARD INC 3.3 03/26/2027 4,000,000.00 05/30/2023
4.36%
3,852,800.00
3,971,720.72
99.39 4.15%
3,975,520.00
34,833.33
0.93%
3,799.28
Aa3/A+
NA
0.74 0.71
92826CAL6 VISA INC 1.9 04/15/2027 4,000,000.00 02/14/2023
4.44%
3,617,920.00
3,927,558.24
98.25 4.18%
3,929,904.00
16,044.44
0.92%
2,345.76
Aa3/AA-
NA
0.79 0.77
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027 3,000,000.00 06/13/2022
4.20%
2,973,570.00
2,995,378.44
99.81 4.22%
2,994,282.00
17,000.00
0.70%
(1,096.44)
A2/A+
A+
0.86 0.83
22160KAM7 COSTCO WHOLESALE CORP 3.0
05/18/2027 2,000,000.00 08/24/2022
3.50%
1,956,700.00
1,991,947.10
99.09 4.06%
1,981,774.00
7,166.67
0.46%
(10,173.10)
Aa3/AA
AA
0.88 0.86
037833DB3 APPLE INC 2.9 09/12/2027 2,000,000.00 02/14/2023
4.45%
1,872,980.00
1,966,665.81
98.59 4.12%
1,971,704.00
17,561.11
0.46%
5,038.19
Aaa/AA+
NA
1.20 1.15
38 HOLDINGS REPORT
City of Palm Springs | Account #10805 | As of June 30, 2026 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
857477BS1 STATE STREET CORP 2.203
02/07/2028 1,500,000.00 02/14/2023
5.03%
1,362,523.37
1,479,075.53
98.74 4.36%
1,481,097.00
13,218.00
0.35%
2,021.47
Aa3/A
AA-
1.61 0.58
24422EXH7 JOHN DEERE CAPITAL CORP 4.5
01/16/2029 2,500,000.00 06/06/2024
4.83%
2,466,550.00
2,481,527.02
100.26
4.39%
2,506,445.00
51,562.50
0.58%
24,917.98
A1/A
A+
2.55 2.33
61744YAP3 MORGAN STANLEY 3.772
01/24/2029 4,000,000.00 04/30/2025
4.52%
3,924,160.00
3,956,576.10
98.64 4.87%
3,945,632.00
65,800.44
0.92%
(10,944.10)
A1/A-
A+
2.57 1.47
69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029 3,000,000.00 02/12/2024
4.64%
2,994,863.00
2,997,322.41
100.64
4.33%
3,019,158.00
57,883.33
0.70%
21,835.59
A1/A+
NA
2.59 2.37
14913UAJ9 CATERPILLAR FINANCIAL SERVICES
CORP 4.85 02/27/2029 3,000,000.00 06/06/2024
4.73%
3,015,000.00
3,008,447.28
101.21
4.36%
3,036,420.00
50,116.67
0.71%
27,972.72
A1/A
A+
2.66 2.43
532457BV9 ELI LILLY AND CO 3.375
03/15/2029 5,200,000.00 04/24/2024
4.96%
4,846,452.00
5,004,201.00
97.58 4.33%
5,073,910.40
51,675.00
1.18%
69,709.40
Aa3/AA-
NA
2.71 2.53
023135CG9 AMAZON.COM INC 3.45
04/13/2029 4,000,000.00 07/30/2024
4.35%
3,848,280.00
3,910,134.40
97.58 4.38%
3,903,352.00
29,900.00
0.91%
(6,782.40)
A1/AA
AA-
2.79 2.60
06051GLG2 BANK OF AMERICA CORP 5.202
04/25/2029 4,000,000.00 06/06/2024
5.18%
4,002,680.00
4,001,254.95
100.93
4.87%
4,037,336.00
38,148.00
0.94%
36,081.05
A1/A-
AA-
2.82 1.70
38151LAJ9 GOLDMAN SACHS BANK USA
4.656 06/03/2029 5,000,000.00 06/05/2026
4.61%
4,993,500.00
4,993,637.03
100.06
4.54%
5,003,095.00
18,106.67
1.17%
9,457.97
A1/A+
AA-
2.93 1.81
89236TMK8 TOYOTA MOTOR CREDIT CORP
4.55 08/09/2029 5,000,000.00 06/24/2026
4.51%
5,004,950.00
5,004,923.97
99.96 4.56%
4,998,065.00
89,736.11
1.17%
(6,858.97)
A1/A+
A+
3.11 2.82
46647PEB8 JPMORGAN CHASE & CO 5.012
01/23/2030 4,000,000.00 04/30/2025
4.57%
4,059,200.00
4,040,667.45
100.68
4.79%
4,027,096.00
87,988.44
0.94%
(13,571.45)
A1/A
AA-
3.57 2.33
713448GB8 PEPSICO INC 4.6 02/07/2030 5,000,000.00 05/19/2025
4.49%
5,021,750.00
5,016,521.26
100.79
4.36%
5,039,600.00
92,000.00
1.18%
23,078.74
A1/A+
NA
3.61 3.16
12572QAL9 CME GROUP INC 4.4 03/15/2030 5,000,000.00 02/10/2026
3.99%
5,075,800.00
5,068,556.31
99.53 4.54%
4,976,305.00
64,777.78
1.16%
(92,251.31)
Aa3/AA-
AA-
3.71 3.34
06406RBK2 BANK OF NEW YORK MELLON
CORP 4.596 07/26/2030 5,000,000.00 04/27/2026
4.33%
5,039,400.00
5,037,272.07
99.99 4.78%
4,999,515.00
98,941.67
1.17%
(37,757.07)
Aa3/A
AA-
4.07 2.78
58933YBQ7 MERCK & CO INC 4.15 09/15/2030 5,000,000.00 04/27/2026
4.18%
4,993,700.00
4,993,951.84
98.82 4.46%
4,940,800.00
61,097.22
1.15%
(53,151.84)
Aa3/A+
NA
4.21 3.77
02079KBK2 ALPHABET INC 4.1 02/15/2031 5,000,000.00 06/05/2026
4.56%
4,904,300.00
4,905,584.94
98.26 4.52%
4,912,900.00
78,583.33
1.15%
7,315.06
Aa2/AA+
NA
4.63 4.10
67066GAR5 NVIDIA CORP 4.5 06/15/2031 5,000,000.00 06/24/2026
4.55%
4,988,750.00
4,988,787.17
99.65 4.58%
4,982,300.00
8,125.00
1.16%
(6,487.17)
Aa1/AA
NA
4.96 4.39
39 HOLDINGS REPORT
City of Palm Springs | Account #10805 | As of June 30, 2026 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 Corporate 107,100,000.00 4.31%
105,229,253.37
106,597,374.24
99.47 4.41%
106,526,347.55
1,227,627.39
24.85%
(71,026.69)
2.46 2.03
MONEY MARKET
FUND
94975P405 ALLSPRING:GOVT MM I 506,140.75 --
3.53%
506,140.75
506,140.75
1.00 3.53%
506,140.75
0.00 0.12%
0.00 Aaa/AAAm
AAA
0.00 0.00
Total Money Market
Fund 506,140.75 3.53%
506,140.75
506,140.75
1.00 3.53%
506,140.75
0.00 0.12%
0.00 0.00
0.00 US TREASURY
912828Y95 UNITED STATES TREASURY 1.875
07/31/2026 5,000,000.00 06/27/2022
3.21%
4,743,164.06
4,994,842.65
99.85 3.67%
4,992,445.00
39,105.66
1.16%
(2,397.65)
Aa1/AA+
AA+
0.08 0.08
9128282A7 UNITED STATES TREASURY 1.5
08/15/2026 3,100,000.00 12/28/2021
1.23%
3,137,296.88
3,100,993.11
99.70 3.88%
3,090,793.00
17,469.61
0.72%
(10,200.11)
Aa1/AA+
AA+
0.13 0.12
91282CDG3 UNITED STATES TREASURY 1.125
10/31/2026 5,000,000.00 08/11/2022
3.00%
4,629,687.50
4,970,682.59
99.08 3.92%
4,954,150.00
9,476.90
1.16%
(16,532.59)
Aa1/AA+
AA+
0.34 0.33
912828U24 UNITED STATES TREASURY 2.0
11/15/2026 3,000,000.00 05/25/2022
2.76%
2,903,789.06
2,991,933.35
99.28 3.96%
2,978,343.00
7,663.04
0.69%
(13,590.35)
Aa1/AA+
AA+
0.38 0.37
912828V98 UNITED STATES TREASURY 2.25
02/15/2027 7,000,000.00 --
3.60%
6,696,316.41
6,944,741.12
98.92 4.01%
6,924,519.00
59,171.27
1.62%
(20,222.12)
Aa1/AA+
AA+
0.63 0.61
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027 5,000,000.00 06/27/2022
3.23%
4,839,648.44
4,974,797.94
98.89 4.01%
4,944,530.00
31,420.77
1.15%
(30,267.94)
Aa1/AA+
AA+
0.75 0.73
91282CEN7 UNITED STATES TREASURY 2.75
04/30/2027 5,000,000.00 08/24/2022
3.18%
4,905,859.38
4,983,309.18
98.93 4.07%
4,946,565.00
23,165.76
1.15%
(36,744.18)
Aa1/AA+
AA+
0.83 0.81
912828X88 UNITED STATES TREASURY 2.375
05/15/2027 7,000,000.00 --
3.79%
6,635,781.25
6,920,266.93
98.55 4.08%
6,898,339.00
21,233.02
1.61%
(21,927.93)
Aa1/AA+
AA+
0.87 0.85
91282CFB2 UNITED STATES TREASURY 2.75
07/31/2027 5,000,000.00 11/23/2022
4.04%
4,726,953.13
4,936,779.89
98.54 4.15%
4,926,760.00
57,354.97
1.15%
(10,019.89)
Aa1/AA+
AA+
1.08 1.04
9128282R0 UNITED STATES TREASURY 2.25
08/15/2027 7,000,000.00 05/30/2023
3.94%
6,545,546.88
6,878,773.08
97.93 4.15%
6,855,079.00
59,171.27
1.60%
(23,694.08)
Aa1/AA+
AA+
1.13 1.08
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 7,000,000.00 05/30/2023
3.94%
7,050,039.06
7,014,414.28
99.97 4.14%
6,998,089.00
72,581.97
1.63%
(16,325.28)
Aa1/AA+
AA+
1.25 1.19
40 HOLDINGS REPORT
City of Palm Springs | Account #10805 | As of June 30, 2026 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
9128283F5 UNITED STATES TREASURY 2.25
11/15/2027 6,000,000.00 01/25/2023
3.58%
5,651,718.75
5,900,320.87
97.46 4.17%
5,847,888.00
17,241.85
1.36%
(52,432.87)
Aa1/AA+
AA+
1.38 1.33
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 6,900,000.00 06/22/2023
4.11%
6,723,726.56
6,839,356.91
98.97 4.18%
6,828,847.20
100,736.19
1.59%
(10,509.71)
Aa1/AA+
AA+
1.59 1.50
91282CGT2 UNITED STATES TREASURY 3.625
03/31/2028 5,200,000.00 11/15/2023
4.56%
5,008,859.38
5,123,519.81
99.09 4.17%
5,152,466.80
47,382.51
1.20%
28,946.99
Aa1/AA+
AA+
1.75 1.66
91282CHE4 UNITED STATES TREASURY 3.625
05/31/2028 7,000,000.00 05/30/2023
3.81%
6,940,664.06
6,977,265.92
99.02 4.16%
6,931,092.00
21,492.49
1.62%
(46,173.92)
Aa1/AA+
AA+
1.92 1.82
9128284V9 UNITED STATES TREASURY 2.875
08/15/2028 5,250,000.00 08/22/2023
4.48%
4,878,398.44
5,091,471.79
97.40 4.17%
5,113,416.00
56,705.80
1.19%
21,944.21
Aa1/AA+
AA+
2.13 2.01
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 7,000,000.00 02/12/2024
4.14%
7,217,656.25
7,107,816.95
101.54
4.17%
7,107,737.00
57,493.21
1.66%
(79.95)
Aa1/AA+
AA+
2.34 2.17
9128285M8 UNITED STATES TREASURY 3.125
11/15/2028 7,000,000.00 02/12/2024
4.14%
6,696,757.81
6,848,466.19
97.66 4.17%
6,836,487.00
27,938.18
1.59%
(11,979.19)
Aa1/AA+
AA+
2.38 2.25
912810FG8 UNITED STATES TREASURY 5.25
02/15/2029 7,000,000.00 --
4.57%
7,201,062.51
7,110,114.88
102.95
4.05%
7,206,171.00
138,066.30
1.68%
96,056.12
Aa1/AA+
AA+
2.63 2.39
91282CKG5 UNITED STATES TREASURY 4.125
03/31/2029 4,000,000.00 06/20/2024
4.29%
3,971,562.50
3,983,628.87
99.88 4.17%
3,995,312.00
41,475.41
0.93%
11,683.13
Aa1/AA+
AA+
2.75 2.55
9128286T2 UNITED STATES TREASURY 2.375
05/15/2029 5,200,000.00 07/30/2024
4.06%
4,821,781.25
4,973,155.25
95.21 4.16%
4,951,169.60
15,773.10
1.16%
(21,985.65)
Aa1/AA+
AA+
2.87 2.73
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029 5,000,000.00 06/20/2024
4.27%
5,050,585.94
5,029,847.11
100.91
4.17%
5,045,315.00
19,057.38
1.18%
15,467.89
Aa1/AA+
AA+
2.92 2.70
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 7,000,000.00 06/24/2026
4.16%
6,967,734.38
6,967,905.40
99.52 4.17%
6,966,638.00
116,795.58
1.63%
(1,267.40)
Aa1/AA+
AA+
3.08 2.82
91282CFL0 UNITED STATES TREASURY 3.875
09/30/2029 5,000,000.00 10/30/2024
4.13%
4,943,750.00
4,962,802.92
99.09 4.17%
4,954,690.00
48,702.19
1.16%
(8,112.92)
Aa1/AA+
AA+
3.25 2.99
91282CFT3 UNITED STATES TREASURY 4.0
10/31/2029 5,000,000.00 05/27/2025
4.03%
4,992,968.75
4,994,703.73
99.45 4.18%
4,972,460.00
33,695.65
1.16%
(22,243.73)
Aa1/AA+
AA+
3.34 3.07
91282CGS4 UNITED STATES TREASURY 3.625
03/31/2030 7,000,000.00 04/30/2025
3.77%
6,955,976.56
6,966,443.16
98.06 4.19%
6,864,375.00
63,784.15
1.60%
(102,068.16)
Aa1/AA+
AA+
3.75 3.43
91282CGZ8 UNITED STATES TREASURY 3.5
04/30/2030 6,000,000.00 05/13/2025
4.09%
5,841,562.50
5,877,674.36
97.58 4.19%
5,854,686.00
35,380.43
1.37%
(22,988.36)
Aa1/AA+
AA+
3.83 3.52
91282CHJ3 UNITED STATES TREASURY 3.75
06/30/2030 5,000,000.00 07/28/2025
3.99%
4,947,460.94
4,957,313.84
98.38 4.20%
4,918,750.00
509.51
1.15%
(38,563.84)
Aa1/AA+
AA+
4.00 3.67
41 HOLDINGS REPORT
City of Palm Springs | Account #10805 | As of June 30, 2026 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
91282CHW4 UNITED STATES TREASURY 4.125
08/31/2030 7,000,000.00 06/24/2026
4.18%
6,984,140.63
6,984,202.78
99.72 4.20%
6,980,589.00
96,511.55
1.63%
(3,613.78)
Aa1/AA+
AA+
4.17 3.74
91282CPD7 UNITED STATES TREASURY 3.625
10/31/2030 5,000,000.00 02/10/2026
3.68%
4,988,671.88
4,989,592.33
97.74 4.20%
4,887,110.00
30,536.68
1.14%
(102,482.33)
Aa1/AA+
AA+
4.34 3.94
91282CPW5 UNITED STATES TREASURY 3.75
01/31/2031 6,000,000.00 02/10/2026
3.69%
6,015,468.75
6,014,275.57
98.11 4.21%
5,886,798.00
93,853.59
1.37%
(127,477.57)
Aa1/AA+
AA+
4.59 4.10
91282CQG9 UNITED STATES TREASURY 3.875
03/31/2031 8,000,000.00 06/24/2026
4.19%
7,892,812.50
7,893,182.11
98.58 4.21%
7,886,248.00
77,923.50
1.84%
(6,934.11)
Aa1/AA+
AA+
4.75 4.25
91282CQU8 UNITED STATES TREASURY 4.125
05/31/2031 3,500,000.00 06/05/2026
4.26%
3,478,261.72
3,478,536.74
99.63 4.21%
3,487,148.00
12,228.48
0.81%
8,611.26
Aa1/AA+
AA+
4.92 4.39
Total US Treasury 189,150,000.00 3.89%
184,985,664.11
187,783,131.63
98.98 4.13%
187,185,005.60
1,551,097.97
43.67%
(598,126.03)
2.36 2.18
Total Portfolio 431,564,490.00 4.07%
424,092,913.75
429,434,038.97
99.21 4.23%
428,631,265.69
3,516,545.53
100.00%
(802,773.28)
2.33 2.05
Total Market Value +
Accrued 432,147,811.22
42 HOLDINGS REPORT
City of Palm Springs Reporting | Account #10806 | As of June 30, 2026 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 233,424.67 -- 233,424.67
233,424.67
1.00 233,424.67
0.00 0.60%
0.00 Aaa/AAA
AAA
0.00 0.00
Total Cash 233,424.67
233,424.67
233,424.67
1.00 233,424.67
0.00 0.60%
0.00 0.00
0.00 LAIF
90LAIF$00 Local Agency Investment Fund
State Pool 31,465,243.67 --
3.82%
31,465,243.67
31,465,243.67
1.00 3.82%
31,465,243.67
0.00 80.46%
0.00 NA/NA
NA
0.00 0.00
Total LAIF 31,465,243.67 3.82%
31,465,243.67
31,465,243.67
1.00 3.82%
31,465,243.67
0.00 80.46%
0.00 0.00
0.00 LOCAL GOV
INVESTMENT POOL
09CATR$04 CalTrust STF 738,367.00 --
3.92%
7,441,468.03
7,441,468.03
10.03 3.92%
7,405,821.00
0.00 18.94%
(35,647.03)
NA/AAAm
NA
0.00 0.00
Total Local Gov
Investment Pool 738,367.00 3.92%
7,441,468.03
7,441,468.03
10.03 3.92%
7,405,821.00
0.00 18.94%
(35,647.03)
0.00 0.00
Total Portfolio 32,437,035.34 3.84%
39,140,136.37
39,140,136.37
2.71 3.84%
39,104,489.34
0.00 100.00%
(35,647.03)
0.00 0.00
Total Market Value +
Accrued 39,104,489.34
43 TRANSACTIONS
44 TRANSACTION LEDGER
City of Palm Springs | Account #10805|07/01/2025 Through 06/30/2026| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 07/29/2025 91282CHJ3 5,000,000.00
UNITED STATES
TREASURY 3.75
06/30/2030
98.949 3.99% (4,947,460.94) (14,775.82) (4,962,236.76) 0.00 Purchase 07/31/2025 3137FK4M5 4,000,000.00 FHMS K-085 A2 4.06 10/25/2028 99.508 4.17% (3,980,312.50) (13,533.33) (3,993,845.83) 0.00 Purchase 12/31/2025 912797SF5 5,360,000.00 UNITED STATES TREASURY 01/13/2026 99.873 3.58% (5,353,179.10) 0.00 (5,353,179.10) 0.00 Purchase 02/11/2026 62479MK10 8,000,000.00
MUFG Bank, Ltd.,
New York Branch
10/01/2026
97.661 3.72% (7,812,853.33) 0.00 (7,812,853.33) 0.00
Purchase 02/11/2026 12572QAL9 5,000,000.00 CME GROUP INC 4.4 03/15/2030 101.516 3.99% (5,075,800.00) (89,222.22) (5,165,022.22) 0.00 Purchase 02/11/2026 91282CPD7 5,000,000.00
UNITED STATES
TREASURY 3.625
10/31/2030
99.773 3.68% (4,988,671.88) (51,571.13) (5,040,243.01) 0.00 Purchase 02/11/2026 91282CPW5 6,000,000.00
UNITED STATES
TREASURY 3.75
01/31/2031
100.258 3.69% (6,015,468.75) (6,837.02) (6,022,305.77) 0.00 Purchase 04/28/2026 3133EWKC3 8,000,000.00
FEDERAL FARM CREDIT
BANKS FUNDING CORP
3.875 03/27/2029
100.077 3.85% (8,006,160.00) (26,694.44) (8,032,854.44) 0.00 Purchase 04/28/2026 06406RBK2 5,000,000.00
BANK OF NEW YORK
MELLON CORP 4.596
07/26/2030
100.788 4.33% (5,039,400.00) (58,726.67) (5,098,126.67) 0.00 Purchase 04/28/2026 58933YBQ7 5,000,000.00 MERCK & CO INC 4.15 09/15/2030 99.874 4.18% (4,993,700.00) (24,784.72) (5,018,484.72) 0.00 Purchase 04/28/2026 912797UA3 6,000,000.00 UNITED STATES TREASURY 06/16/2026 99.510 3.66% (5,970,626.95) 0.00 (5,970,626.95) 0.00 Purchase 04/29/2026 161571HW7 3,334,000.00 CHAIT 2024-2 A 4.63 01/15/2031 101.320 4.15% (3,378,019.22) (6,003.05) (3,384,022.27) 0.00 Purchase 04/30/2026 3137HBC51 8,000,000.00 FHMS K-754 A2 4.94 11/25/2030 103.016 4.16% (8,241,250.00) (31,835.56) (8,273,085.56) 0.00 Purchase 06/08/2026 02079KBK2 5,000,000.00 ALPHABET INC 4.1 02/15/2031 98.086 4.56% (4,904,300.00) (65,486.11) (4,969,786.11) 0.00 45 TRANSACTION LEDGER
City of Palm Springs | Account #10805|07/01/2025 Through 06/30/2026| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Purchase 06/08/2026 38151LAJ9 5,000,000.00
GOLDMAN SACHS
BANK USA 4.656
06/03/2029
99.870 4.61% (4,993,500.00) (3,233.33) (4,996,733.33) 0.00 Purchase 06/08/2026 91282CQU8 3,500,000.00
UNITED STATES
TREASURY 4.125
05/31/2031
99.379 4.26% (3,478,261.72) (3,155.74) (3,481,417.46) 0.00 Purchase 06/25/2026 89236TMK8 5,000,000.00
TOYOTA MOTOR
CREDIT CORP 4.55
08/09/2029
100.099 4.51% (5,004,950.00) (85,944.44) (5,090,894.44) 0.00 Purchase 06/25/2026 67066GAR5 5,000,000.00 NVIDIA CORP 4.5 06/15/2031 99.775 4.55% (4,988,750.00) (4,375.00) (4,993,125.00) 0.00 Purchase 06/25/2026 91282CLC3 7,000,000.00
UNITED STATES
TREASURY 4.0
07/31/2029
99.539 4.16% (6,967,734.38) (112,154.70) (7,079,889.08) 0.00 Purchase 06/25/2026 91282CHW4 7,000,000.00
UNITED STATES
TREASURY 4.125
08/31/2030
99.773 4.18% (6,984,140.63) (91,803.67) (7,075,944.30) 0.00 Purchase 06/25/2026 91282CQG9 8,000,000.00
UNITED STATES
TREASURY 3.875
03/31/2031
98.660 4.19% (7,892,812.50) (72,841.53) (7,965,654.03) 0.00 Total Purchase 119,194,000.00 (119,017,351.90) (762,978.48) (119,780,330.38) 0.00 TOTAL
ACQUISITIONS 119,194,000.00 (119,017,351.90) (762,978.48) (119,780,330.38) 0.00
DISPOSITIONS
Maturity 07/28/2025 3133EPRS6 (5,250,000.00)
FEDERAL FARM CREDIT
BANKS FUNDING CORP
4.875 07/28/2025
100.000 5.09% 5,250,000.00 0.00 5,250,000.00 0.00
Maturity 07/31/2025 91282CAB7 (2,800,000.00)
UNITED STATES
TREASURY 0.25
07/31/2025
100.000 0.93% 2,800,000.00 0.00 2,800,000.00 0.00
Maturity 08/11/2025 69371RR99 (3,000,000.00) PACCAR FINANCIAL CORP 3.55 08/11/2025 100.000 3.60% 3,000,000.00 0.00 3,000,000.00 0.00 Maturity 08/31/2025 91282CAJ0 (2,750,000.00)
UNITED STATES
TREASURY 0.25
08/31/2025
100.000 0.64% 2,750,000.00 0.00 2,750,000.00 0.00
46 TRANSACTION LEDGER
City of Palm Springs | Account #10805|07/01/2025 Through 06/30/2026| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Maturity 09/09/2025 912797QT7 (5,000,000.00) UNITED STATES TREASURY 09/09/2025 100.000 4.33% 5,000,000.00 0.00 5,000,000.00 0.00 Maturity 09/15/2025 437076CR1 (925,000.00) HOME DEPOT INC 4.0 09/15/2025 100.000 4.01% 925,000.00 0.00 925,000.00 0.00 Maturity 09/30/2025 3133ENP95 (4,200,000.00)
FEDERAL FARM CREDIT
BANKS FUNDING CORP
4.25 09/30/2025
100.000 4.49% 4,200,000.00 0.00 4,200,000.00 0.00
Maturity 09/30/2025 91282CAM3 (3,300,000.00)
UNITED STATES
TREASURY 0.25
09/30/2025
100.000 1.12% 3,300,000.00 0.00 3,300,000.00 0.00
Maturity 10/31/2025 91282CAT8 (2,750,000.00)
UNITED STATES
TREASURY 0.25
10/31/2025
100.000 0.67% 2,750,000.00 0.00 2,750,000.00 0.00
Maturity 11/15/2025 912828M56 (3,000,000.00)
UNITED STATES
TREASURY 2.25
11/15/2025
100.000 2.70% 3,000,000.00 0.00 3,000,000.00 0.00
Maturity 12/12/2025 3130ATUC9 (4,000,000.00) FEDERAL HOME LOAN BANKS 4.5 12/12/2025 100.000 4.40% 4,000,000.00 0.00 4,000,000.00 0.00 Maturity 01/13/2026 912797SF5 (5,360,000.00) UNITED STATES TREASURY 01/13/2026 100.000 3.58% 5,360,000.00 0.00 5,360,000.00 0.00 Maturity 01/31/2026 91282CBH3 (2,800,000.00)
UNITED STATES
TREASURY 0.375
01/31/2026
100.000 1.07% 2,800,000.00 0.00 2,800,000.00 0.00
Maturity 02/15/2026 912828P46 (6,000,000.00)
UNITED STATES
TREASURY 1.625
02/15/2026
100.000 3.83% 6,000,000.00 0.00 6,000,000.00 0.00
Maturity 02/24/2026 58933YAY1 (4,000,000.00) MERCK & CO INC 0.75 02/24/2026 100.000 2.77% 4,000,000.00 0.00 4,000,000.00 0.00 Maturity 03/05/2026 3130ALHH0 (3,000,000.00)
FEDERAL HOME
LOAN BANKS 0.96
03/05/2026
100.000 2.68% 3,000,000.00 0.00 3,000,000.00 0.00
Maturity 03/09/2026 3133EPCR4 (5,000,000.00)
FEDERAL FARM CREDIT
BANKS FUNDING CORP
4.75 03/09/2026
100.000 3.87% 5,000,000.00 0.00 5,000,000.00 0.00
Maturity 03/31/2026 9128286L9 (5,000,000.00)
UNITED STATES
TREASURY 2.25
03/31/2026
100.000 3.27% 5,000,000.00 0.00 5,000,000.00 0.00
47 TRANSACTION LEDGER
City of Palm Springs | Account #10805|07/01/2025 Through 06/30/2026| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Maturity 04/07/2026 45950VHX7 (5,000,000.00)
INTERNATIONAL
FINANCE CORP 2.125
04/07/2026
100.000 3.19% 5,000,000.00 0.00 5,000,000.00 0.00
Maturity 04/30/2026 9128286S4 (7,000,000.00)
UNITED STATES
TREASURY 2.375
04/30/2026
100.000 3.39% 7,000,000.00 0.00 7,000,000.00 0.00
Maturity 05/04/2026 06406FAC7 (2,000,000.00)
BANK OF NEW YORK
MELLON CORP 2.8
05/04/2026
100.000 4.38% 2,000,000.00 0.00 2,000,000.00 0.00
Maturity 05/13/2026 808513BR5 (2,250,000.00) CHARLES SCHWAB CORP 1.15 05/13/2026 100.000 3.39% 2,250,000.00 0.00 2,250,000.00 0.00 Maturity 06/12/2026 3130AWLZ1 (5,250,000.00)
FEDERAL HOME
LOAN BANKS 4.75
06/12/2026
100.000 4.85% 5,250,000.00 0.00 5,250,000.00 0.00
Maturity 06/16/2026 912797UA3 (6,000,000.00) UNITED STATES TREASURY 06/16/2026 100.000 3.66% 6,000,000.00 0.00 6,000,000.00 0.00 Total Maturity (95,635,000.00) 95,635,000.00 0.00 95,635,000.00 0.00 TOTAL
DISPOSITIONS (95,635,000.00) 95,635,000.00 0.00 95,635,000.00 0.00 48 TRANSACTION LEDGER
City of Palm Springs Reporting | Account #10806|07/01/2025 Through 06/30/2026| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 07/15/2025 90LAIF$00 616,214.65
Local Agency
Investment Fund State
Pool
1.000 4.26% (616,214.65) 0.00 (616,214.65) 0.00
Purchase 07/31/2025 09CATR$04 2,530.09 CalTrust STF 10.050 4.20% (25,427.40) 0.00 (25,427.40) 0.00 Purchase 08/29/2025 09CATR$04 2,372.95 CalTrust STF 10.070 4.19% (23,895.63) 0.00 (23,895.63) 0.00 Purchase 09/30/2025 09CATR$04 2,610.96 CalTrust STF 10.080 4.17% (26,318.49) 0.00 (26,318.49) 0.00 Purchase 10/15/2025 90LAIF$00 360,859.22
Local Agency
Investment Fund State
Pool
1.000 4.15% (360,859.22) 0.00 (360,859.22) 0.00
Purchase 10/31/2025 09CATR$04 2,508.31 CalTrust STF 10.070 4.12% (25,258.67) 0.00 (25,258.67) 0.00 Purchase 11/30/2025 09CATR$04 2,241.26 CalTrust STF 10.070 4.05% (22,569.50) 0.00 (22,569.50) 0.00 Purchase 12/31/2025 09CATR$04 2,578.65 CalTrust STF 10.080 3.96% (25,992.78) 0.00 (25,992.78) 0.00 Purchase 01/08/2026 90LAIF$00 10,000,000.00
Local Agency
Investment Fund State
Pool
1.000 3.95% (10,000,000.00) 0.00 (10,000,000.00) 0.00
Purchase 01/15/2026 90LAIF$00 255,785.86
Local Agency
Investment Fund State
Pool
1.000 3.93% (255,785.86) 0.00 (255,785.86) 0.00
Purchase 01/30/2026 09CATR$04 2,317.37 CalTrust STF 10.070 3.89% (23,335.93) 0.00 (23,335.93) 0.00 Purchase 02/27/2026 09CATR$04 2,193.69 CalTrust STF 10.070 3.64% (22,090.43) 0.00 (22,090.43) 0.00 Purchase 03/31/2026 09CATR$04 2,529.04 CalTrust STF 10.050 3.87% (25,416.85) 0.00 (25,416.85) 0.00 Purchase 04/15/2026 90LAIF$00 286,019.93
Local Agency
Investment Fund State
Pool
1.000 3.81% (286,019.93) 0.00 (286,019.93) 0.00
Purchase 04/30/2026 09CATR$04 2,319.04 CalTrust STF 10.050 3.89% (23,306.39) 0.00 (23,306.39) 0.00 Purchase 05/29/2026 09CATR$04 2,211.61 CalTrust STF 10.040 3.91% (22,204.51) 0.00 (22,204.51) 0.00 Purchase 06/10/2026 90LAIF$00 9,000,000.00
Local Agency
Investment Fund State
Pool
1.000 3.81% (9,000,000.00) 0.00 (9,000,000.00) 0.00
Purchase 06/30/2026 09CATR$04 2,386.22 CalTrust STF 10.030 3.92% (23,933.80) 0.00 (23,933.80) 0.00 Total Purchase 20,547,678.85 (20,808,630.04) 0.00 (20,808,630.04) 0.00 TOTAL
ACQUISITIONS 20,547,678.85 (20,808,630.04) 0.00 (20,808,630.04) 0.00 49 TRANSACTION LEDGER
City of Palm Springs Reporting | Account #10806|07/01/2025 Through 06/30/2026| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
DISPOSITIONS
Sale 07/10/2025 90LAIF$00 (26,000,000.00)
Local Agency
Investment Fund State
Pool
1.000 4.26% 26,000,000.00 0.00 26,000,000.00 0.00
Sale 08/31/2025 90LAIF$00 (1,100,000.00)
Local Agency
Investment Fund State
Pool
1.000 4.25% 1,100,000.00 0.00 1,100,000.00 0.00
Sale 10/22/2025 90LAIF$00 (10,000,000.00)
Local Agency
Investment Fund State
Pool
1.000 4.14% 10,000,000.00 0.00 10,000,000.00 0.00
Sale 03/12/2026 90LAIF$00 (10,000,000.00)
Local Agency
Investment Fund State
Pool
1.000 3.83% 10,000,000.00 0.00 10,000,000.00 0.00
Total Sale (47,100,000.00) 47,100,000.00 0.00 47,100,000.00 0.00 TOTAL
DISPOSITIONS (47,100,000.00) 47,100,000.00 0.00 47,100,000.00 0.00 50 IMPORTANT DISCLOSURES
2026 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.
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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.
LGIP Yields: Reported yields for local government investment pools may be presented as either the 30-day yield or the monthly distribution yield, as applicable. For certain funds, the 30-day yield is calculated using reported daily yield data. Yield calculations are subject to change and may not be directly comparable across funds.
LAIF Yields: Additional Disclosure for CA Clients - As a result of a reporting lag from the Local Agency Investment Fund (LAIF), reported LAIF yields represent the most recently available Daily Effective Yield and may reflect data from approximately 7–10 days prior to month-end. 51 PERIODIC TABLE OF ASSET CLASS RETURNS DISCLOSURES
▪ US Large Cap Stocks – Standard & Poor’s (S&P) 500 – The S&P 500 is a market value weighted index of the 500 largest market capitalization stocks that trade on U.S. exchanges. ▪ US Mid Cap Stocks – Standard & Poor’s (S&P) Mid Cap 400 – The S&P Mid Cap 400 is a market capitalization weighted index that measures the performance of mid-capitalization U.S. traded stocks.
▪ US Small Cap Stocks – Center for Research in Security Prices (CRSP) US Small Cap – The CRSP US Small Cap Index is a market capitalization weighted index that measures the performance of small capitalization U.S. stocks.
▪ International Stocks – Morgan Stanley Capital International (MSCI) World ex USA Net – The MSCI World ex USA Index is a market capitalization weighted index of large and mid-cap stocks from the developed markets, excluding the U.S.
▪ Emerging Market Stocks – Morgan Stanley Capital International (MSCI) Emerging Markets Net – The MSCI Emerging Markets Index is a market capitalization weighted index that captures equity performance of large and mid-cap stocks from emerging market countries. ▪ U.S. Real Estate – FTSE EPRA Nareit Developed REITs USA – The FTSE EPRA Nareit Developed REITs USA Index includes Real Estate Investment Trusts (REITs) publicly traded in the U.S. ▪ International Real Estate – FTSE EPRA Nareit Developed ex US REITs Net – The FTSE EPRA Nareit Developed ex US REITs Index includes Real Estate Investment Trusts (REITs) publicly traded in developed markets, excluding the U.S.
▪ US Core Bonds – ICE BofA US Broad Market – The ICE BofA US Broad Market Index is a broad measure of U.S. investment grade bond performance that includes U.S. Treasuries, agencies, corporates, mortgage, and securitized products.
▪ US High Yield Bonds – ICE BofA US High Yield – The ICE BofA High Yield Bond Index measures the market performance of USD-denominated, non-investment grade, fixed-rate, taxable corporate bonds.
▪ International Bonds – Bloomberg Global Aggregate ex USD – The Bloomberg Global Aggregate ex USD Index is an investment grade multi-currency benchmark that includes treasury, government- related, corporate and securitized fixed-rate bonds from developed and emerging markets issuers.
Bonds issued in USD are excluded.
▪ Diversified Commodities – Bloomberg Commodity Index – The Bloomberg Commodity Index tracks the price movement of a diversified basket of commodities. Commodity weights are determined by world production and trading volume, with single commodity and sector concentration limits. The index consists of futures contracts across energy, agriculture, metals, and livestock sectors.
Source ICE Data Indices, LLC ("ICE"), used with permission. ICE permits the use of 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 representation, 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 is at licensee’s own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend Chandler, or any of its products or services.
Bloomberg® and Bloomberg Barclays Global Aggregate ex-USD Total Return Index Value Unhedged USD are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited ("BISL"), the administrator of the index (collectively, "Bloomberg") and have been licensed for use for certain purposes by Chandler Asset Management Inc. Bloomberg is not affiliated with Chandler Asset Management Inc., and Bloomberg does not approve, endorse, review, or recommend this product. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to this product.
Morgan Stanley Capital International® (MSCI), the MSCI indices are service marks of Morgan Stanley Capital International and its affiliates, and have been licensed for use for certain purposes by Chandler Asset Management Inc. MSCI is not affiliated with Chandler Asset Management Inc., and MSCI does not approve, endorse, review, or recommend these products. MSCI does not guarantee the timeliness, accurateness, or completeness of any data or information relating to these products.
Disclosure: This report is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice.
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 judgement.
All investments contain risk and may lose value. Fixed income investments are subject to interest rate, 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. International: Non-US markets may be more volatile due to a variety of factors including less liquidity, transparency and oversight of companies and assets. Values of non-US investments may fluctuate due to changes in currency exchange rates. Non-US companies are also subject to risks that come with political and economic stability that may affect their respective countries. These risks may be greater in emerging market countries. Equities: Investments on equities are subject to risks from stock market fluctuations that occur in response to economic and business developments. 52 BENCHMARK DISCLOSURES
City of Palm Springs | Account #10805 | As of March 31, 2026 Benchmark Disclosure
ICE BofA 1-5 Yr Unsubordinated US
Treasury & Agency Index
The ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies. 53