AR 5 ATTACHMENT A — Pasadena City Council, June 9, 2025

Attachment A
City of Pasadena
Quarterly Investment Report
Quarter Ending 03/31/2025
Prepared by the Department of Finance
Treasury Division
Quarterly Investment Report
I. Pooled Investment Portfolio
II. Capital Endowment Portfolio
I. Power Reserve Portfolio
IV. Miscellaneous Portfolios
V. Investments Held by Trustees
VI. PARS Section 115 Trust
I. Pooled Investment Portfolio
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CITY OF PASADENA
Treasurer's Pooled Investment Portfolio
March 2025
Vicken Erganian
City Treasurer

PORTFOLIO COMPLIANCE
The Treasurer's investment portfolio is in compliance with the California Government Code Section 53601 and the City's Investment Policy approved by the City Council on July 8, 2024. The holdings in the investment pool are in compliance with the current investment policy statement. Further information on compliance issues can be obtained by calling the City of Pasadena Treasurer's Office. A complete copy of the monthly investment report on the investment portfolio including a detailed listing of each investment, is available by calling the Treasurer's office at (626)744-4422.

PORTFOLIO STRUCTURE AS OF 03/31/2025
rrpE
Money Market - Collateralized
Municipal Bonds
Corporate Bonds
Federal Agencies
US Treasury Securities
Supranationals
Commercial Paper
Money Market-CAMP
Money Market Fund-US Bank
LAIF
Cash in Bank
TOTALS:

Accrued Interest Receivable
GRAND TOTAL:

MARKET VALUE
1,248
63,032,994
102,819,314
445,842,535
32,247,064
32,550,024
7,414,088
110,208,347
3,343,314
1,358,373
(1,129,087)
797,688,212
5,436,176
803,124,387

PERCENT

0.00%

7.90%

12.89%

55.89%

4.04%

4.08%

0.93%

13.82%

0.42%

0.17%
-0.14%
100.00%
Commercial
Sup,.M^P^
LAIF
M°"ey^r""F-cou..^
^,A»ftB^ "•w/'
Fund-US 14%0.42%°
USTre

4.03 .^
orp Bond

12.85%
Fed Agei

55.73%
PORTFOLIO LIQUIDITY AS OF 03/31/2025
Aging Interval
0-30 Days
31 days-1 Year
1 - 2 Years
2 - 3 Years
3 - 4 Years
4 - 5 Years
Over 5 Years
TOTAL:

Par Value
128,801,725
247,117,778
58,933,000
85,950,000
106,579,000
177,490,000
2,500,000
807,371,503
Percent of
Portfolio

15.95%

30.61%

7.30%

10.65%

13.20%

21.98%

0.31%
100.00%

PORTFOLIO STATISTICS
Mar-25 Feb-25 Jan-25 Dec-24 Nov-24 Oct-24
Month-End Market Value 803,124,387 818,520,106 837,712,301 823,742,327 790,423,402 791,805,706 Modified Duration 1.83 1.76 1.78 1.82 1.98 1.90
Weighted Average Maturity 2.05 1,96 2.01 2.07 2.19 2.12 Current Book Yield to Maturity 3.438% 3.384% 3.344% 3.308% 3.214% 3.166% Effective Yield-Year to Date 3.200% 3.180% 3.140% 3.110% 3.080% 3.050% Interest Earned 2,167,970 2,080,901 2,155,820 2,202,137 2,121,070 2,105,659 Fiscal Year To Date Interest Earned 18,682,097 16,514,127 14,433,225 12,277,406 10,075,268 7,954,198 Fair Value Change Gain/fLoss) 902,971 2,151,316 1,192,294 291,953 1,176,606 (1,826,700) Fiscal Year To Date change in fair value 13,515,462 12,612,492 10,461,176 9,268,882 8,976,930 7,800,324 Total Fiscal YTD Earnings 32,197,559 29,126,619 24,894,402 21,546,288 19,052,198 15,754,522 1 !
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12005
12006
12007
12008
12009
12010
12011
12012
12013
12014
12015
12016
12017
2018
12019
12020
12021
12022
;2023
2024
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Annual
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Annual
Annual
Annual
Annual
Annual
Annual
Annual
Annual
Annual
Annual
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
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4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
ICE BofA
1-3 Index

1.746

4.195

6.706

4.649

3.784

2.322

1.540

1.467

0.696

0.777

0.671

1.284

0.393

0.303

0.342
-0.182

0.856
-0.185

0.291

0.354

1.166

1.626

1.219

1.480

0.700

0.606

4.005

1.590

1.215

0.274

0.227

3.306
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0.063

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4.560

0.450

0.988

2.340

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4.389

1.610
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4.474

5.736

3.474

3.398

1.806

1.490

1.788

0.417

1.321

1.087

0.713

0.440

0.419

0.380
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1.180
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0.269

0.431

1.038

1.641

0.963

1.054

0.593

0.590

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0.962

0.287

0.236

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2.230

5.824

0.934
1,141

2.047

0.703

4.825

1.324

1.610 1.324
Yield Fiscal YTD
IPooled Portfolio YTM 3.34%
IStale Treasurer's LAIF yield 4.31%
|2 Year Average US Treasury yield 4.12%
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CITY OF PASADENA
Capital Endowment Portfolio
March 2025
Vicken Erganian
City Treasurer

PORTFOLIO STRUCTURE AS OF 03/31/2025
TfPE MARKET VALUE PERCENT
Money Market - CAMP 1 23,667 6.10%
Federal Agencies 1,902,177 93.90%
TOTALS: 2,025,844 100.00%
Accrued Interest Receivable 31,476
GRAND TOTAL: 2,057,320
Federal
Agencies,

93.90%
s
MMF-
CAMP,

6.10%
Aging Interval
0-30 Days
31 days-1 Year
1-2 Years
2-3 Years
3-4 Years
4 - 5 Years
Over 5 Years
TOTAL:

PORTFOLIO LIQUIDITY AS OF 03/31/2025
Percent of
Portfolio Par Value
123,667
1,900,000
2,023,667

6.11%

0.00%

93.89%

0.00%

0.00%
100.00%
Mar-25
Month-End Mkt Value 2,057,320
Modified Duration 2.28
Weighted Average Maturity 2.49
Current Book Yield to Maturity 4.690%
Effective Yield - Year to Date 2.850%
Interest Earned 7,911
Fiscal Year To Date Interest Earned 43,141
Fair Value Change Gain/(Loss) (1 ,098)
Fiscal Year To Date change in fair value 37,562
Total Fiscal YTD earnings 80,703

PORTFOLIO STATISTICS
Feb-25 Jan-25
2,050,507

2.36 2.57

4.692%

2.630%
7,868
35,230
2,839
38,660
73,890
2,039,800

2.43 2.65

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1,545
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63,182
Dec-24
2,030,339

2.51 2.73

4.706%

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19,446
(1,048)
34,275
53,721
Nov-24
2,023,457

2.59 2.81

4.714%

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46,840
Oct-24
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0.14 0.06

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CITY OF PASADENA
Power Reserve Portfolio
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March 2025
Vicken Erganian
City Treasurer

PORTFOLIO STRUCTURE AS OF 03/31/2025
TfPE MARKET VALUE PERCENT
Municipal Bonds 1,946,900 4.41%
Federal Agencies 25,593,995 58.02%
L.A.I.F. 46,371 0.11%
Money Market-CAMP 16,522,251 37.46%
TOTALS: 44,109,517 100.00%
Accrued Interest Receivable 232,241
GRAND TOTAL: 44,341,759
Money Market-
CAMP

1.03%
Municipal
Bonds
ed Agency
LAIF

0.11%
PORTFOLIO LIQUIDITY AS OF 03/31/2025
Percent of
Portfolio Aging Interval
0 - 30 days
31 days-1 Year
1 - 2 Years
2-3 Years
3 - 4 Years
4 - 5 Years
Over 5 Years
TOTAL:

Par Value
16,568,623
2,000,000
6,000,000
26,666,667
51,235,290

32.34%

0.00%

3.90%

0.00%

11.71%

0.00%

52.05%
100.00%

PORTFOLIO STATISTICS
Month-End Market Value
Modified Duration
Weighted Average Maturity
Current Book Yield to Maturity
Effective Yield - Year to Date
Interest Earned
Fiscal Year To Date Interest Earned
Fair Value Change Gain/(Loss)
Fiscal Year To Date change in fair value
Total Fiscal YTD Earnings
Mar-25
44,341,759

4.73 6.39

2.670%

2.550%
114,011
969,589
59,532
1,107,999
2,077,588
Feb-25
44,168,216

4.77 6.46

2.680%

2.540%
107,895
855,578
748,849
1,048,467
1,904,045
Jan-25
43,311,472

4.72 6.54

2.686%

2.510%
114,095
747,683
101,201
299,618
1,047,301
Dec-24
43,096,162

4.77 6.60

2.742%

2.480%
116,156
633,588
(704,543)
198,417
832,005
Nov-24
43,684,821

4.95 6.67

2.785%

2.440%
103,133
517,432
319,137
902,960
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'ower Reserve Portfolio - Total Return Performance
12003
12006
12007
12008
12009
12010
12011
12012
12013
12014
12015
12016
12017
; 2018
12019
"2020
12021
2022
2023
2024
2025
Annual
Annual
Annual
Annual
Annual
Annual
Annual
Annual
Annual
Annual
Annual
Annual
1 st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4th quarter
1st quarter
2nd quarter
3rd quarter
4lh quarter
ICE BofA
5-7 Index

4.214

4.184

7.656

4.610

3.784

1.113

1.555

1.467
-0.143

2.446

1.574

2.050

0.773

0.873

0.567
-0.398

1.815
-0.890

0.013

0.188

1.812

1.123

2.245

2.530

1.196

0.430

6.401

1.594

1.215

0.274

0.227

3.31 -1.178

0.634
-0.037
-0,896
-1.477
-5.970
-3.282
-4.420

1.918
-11.754

3.183

3.183
Power
Reserve

3.940

4.540

6.960

3.683

3.714

1.206

2.547

3.027
-0.184

2.688

1.364
-0.393

0.830

0.803

0.515

0.071

2.219
-0.702

0.284

0.048
Laaz

1.617

1.538

1.704

0.877

0.460

4.579

0.950

0.625

0.249

2.073
-2.549

3.715
-0.554
-0.015

0.597
-6.886
-4.182
-5.972

0.454
-16.586

2.517
-0.212
-2.378

6.459

6.386
-0.452

0.895

4.140
-2.083

2.500

2.894

2.894
lYeld Fiscal YTD
IPower Reserve YTM 2.63%
IState Treasurer's LAIF yield 4.31 %
|2 Year Average Treasury yield 4.12%
Index changed to ICE BofA 5-7 in 2022
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I
VI. PARS Section 115 Trust
City of Pasadena
PARS Section 115 Trust
For the Month Ended March 31, 2025
Pension Account 6746056200
Beginning Balance
Activity
Contributions
Disbursements
Mayket Value
13,947,536.04
Book Value
13,871,373.53
Total
Net Investment Income
Dividends
Interest
Other Income
Change in Accrued Income
Total Investment Income
56,598.12
1,851.08
(32.81)
58,416.39
56,598.12
1,851.08
(32.81)
58,416.39
Net Change in Unrealized Gain/Loss
Realized Gain/Loss
Total Mayket Value Adjustment
Trust Fees
PARS Fee (Net of Depository Earnings)
Unreconciled Difference
Ending Balance
Investment Return (Inception-To-Date as of 03/31/2025)
BenchMayk Return (PARS Moderately Conservative)
Total
(250,609.31)
4,452.24
(246,157.07)
(2,896.62)
(2,619.22)
(5,515.84)
13,754,279.52
4,452.24
4,452.24
(2,896.62)
(2,619.22)
(5,515.84)
13,928,726.32
1 Year Inception To Date

5.50% 4.36%

5.39% 4.46%
Asset Allocation
Cash and Equivalents
Equity
Fixed Income
Accrued Income
Total
Market Value
514,914.83
4,085,399.58
9,152,146.84
1,818.27
13,754,279.52
Percentage

3.74%

29.70%

66.54%

0.01%
100.00%
Accrued Income

0.01%
Cash and Equivalents

3.74%
Fixed Income'

66.54%
Equity

29.70%
Account Manager:

Kyra Clarke
3121 Michelson Dr 3rd Fl
Irvine, CA 92612
949-224-7214, [email protected]
30 City of Pasadena
PARS Section 115 Trust
For the Month Ended March 31,2025
Post Employments Benefits Trust 6746056201
Beginning Balance
Activity
Contributions
Disbursements
Mayket Value
2,641,956.08
Book Value
2,623,081.56
Total
Net Investment Income
Dividends
Interest
Other Income
Change in Accrued Income
Total Investment Income
Net Change in Unrealized Gain/Loss, Fee Receipts & Deliveries Net Realized Gain/Loss
Total Mayket Value Adjustment
Trust Fees
PARS Fee (Net of Depository Earnings)
Unreconciled Difference
Ending Balance
Investment Return (Inception-To-Date as of 3/31/2025)
BenchMayk Return (PARS Moderately Conservative)
Total
10,733.85
290.28

34.34 11,058.47
(46,470.10)
(375.39)
(46,845.49)
(552.70)
(496.13)
(1,048.83)
2,605,120.23
10,733.85
290.28

34.34 11,058.47
(375.39)
(375.39)
(552.70)
(496.13)
(1,048.83)
2,632,715.81
1 Year Inception To Date

5.47% 4.45%

5.39% 4.50%
Asset Allocation
Cash and Equivalents
Equity
Fixed Income
Accrued Income
Total
Marrket Value
93,093.21
777,608.23
1,734,094.17
324.62
2,605,120.23
Percentage

3.57%

29.85%

66.56%

0.01%
100.00%
Accrued Income

0.01%
Cash and Equivalents

3.57%
Fixed Income

66.56%
rEquity
s'

29.85%
Account Manager:

Kyra Clarke
3121 MichelsonDr3rdFI
lrvine.CA 92612
949-224-7214, [email protected]
31

Pasadena City CouncilJune 9, 2025

Pasadena City Council
June 9, 2025