August 18, 2026, Item #5
AGENDA RE PO RT City of Poway
DATE:
TO:
FROM:
CONTACT:
SUBJECT:
Summary:
August 18, 2026
Honorable Mayor and Members of the City Council
Craig Schmollinger, Director of Finance @
Elsie Koyama, Interim Finance Manager or
(858) 668-4432 or [email protected]
City's Investment Report as of June 30, 2026
CITY COUNCIL
Quarterly reports of investments are required to be presented to the City Council per California Government Code and the City's Investment Policy. Attached is the Investment Portfolio Report as of June 30, 2026.
Recommended Action:
It is recommended the City Council accept and file the attached report.
Discussion:
Pursuant to California Government Code Sec. 53646(b)(1) and the City's Investment Policy, the Director of Finance (i.e., City Treasurer) renders a quarterly investment report to the City Council concerning the investment portfolio's earnings and performance results. In accordance with the Investment Policy, the quarterly report includes information such as the investment type, issuer, date of maturity, par value, amount invested, current market value, and the source of the market value information.
The City is in compliance with its adopted Investment Policy, and the City's investment program provides sufficient liquidity to meet its cash flow requirements for the next six months. The fair value of the City's investment portfolio as of June 30, 2026, was $167,433,019. It consisted of the following:
(Remainder of page intentionally left blank)
1 of 35
August 18, 2026, Item #5
Investment Portfolio Total
Cash $339,745
Deposits at CalTRUST $26,590,054
Deposits at the Local Agency Investment Fund (LAIF) $53,623,81 8 U. S. Treasury Notes $32,347,463
U.S. Instrumentalities $33,349,332
Corporate Notes $21, 182,607
Fair Value of Investment Portfolio as of June 30, 2026 $167,433,019 It is the City's practice to keep funds (including those identified to pay for Capital Improvement Projects) invested and earning interest until they are needed. In addition to changing market conditions, reductions in the fair value of the investment portfolio can also be reflective of payments for large capital projects as well as operational expenses.
The attached Monthly Consolidated Investment Portfolio Report (Attachment B) and Investment Report (Attachment C) were prepared by the City's investment manager, Insight Investment, with input from the City's Finance Department. The Portfolio Report includes all investments while the Investment Report includes only those investments managed by Insight Investment.
CalTRUST is a joint powers authority created by and for California public agencies to pool their assets and invest local agency funds until they are needed. Any California public agency may participate in the CalTRUST, including the state, counties, cities, and special districts. The City invests portions of investable funds of the portfolio in the Short Term CalTRUST account with target investment of funds up to two years. The City also invests portions of the investable funds of the portfolio in the Medium Term CalTRUST account with target investment of funds between one and three years.
The Local Agency Investment Fund (LAIF) is a California State offered and administered investment pool made available to local agencies within the State. This program offers local agencies, such as the City, the opportunity to participate in a major portfolio, which invests hundreds of millions of dollars, using the investment expertise of the State Treasurer's Office professional investment staff. The State of California cannot borrow or withhold LAIF money per California statute.
All City funds, including the General Fund, Water Fund, Wastewater Fund and others -except those identified in Attachment D, are pooled and invested, with earned interest allocated quarterly based on the average daily cash balance in each fund. The funds on deposit at LAIF and CalTRUST earn interest at variable rates. The interest rate for the month ending June 30, 2026, is estimated at 3.81 % for LAIF, 3.71 % for the CalTRUST short-term fund, and 3.88% for the CalTRUST medium-term fund.
For fixed income securities, the difference between amortized cost and fair value is considered an unrealized gain or loss. A realized loss is when the principal of the security is redeemed before its maturity date at a fair value lower than its amortized cost value. The amortized cost value of the externally managed investment portfolio is $87,389,01 O; the fair value is $87,219,147 for an unrealized loss of $169,863 or -0.19% of the total amortized cost value. The source of the fair value information for the U.S. Treasury Notes, the U.S. Instrumentalities, Corporate Notes, and Municipal Bonds is Interactive Data Corporation.
2 of 35
August 18, 2026, Item #5
Also included with this report are recaps of the City's cash and investments held by fiscal agents, non managed investments, and cash on hand. The total book value of the cash and investments held by our fiscal agent, U.S. Bank, at June 30, 2026, was $22,784. The source of the market value information for these investments was U.S. Bank. The total book value of the non-managed investments was $8,246 at June 30, 2026. The City's cash on hand at June 30, 2026 totaled $960,539.
The June 30, 2026 balance of the City's Library Trust Fund is $263,676. Through the Fiscal Year 2025- 26 period ending June 30, 2026, $4,787 of interest earnings has been transferred to the General Fund.
The City Transfers 90% of the Library Trust Fund's interest revenue to the General Fund on an annual basis to help offset library operating costs.
Environmental Review:
This action is not subject to review under the California Environmental Quality Act (CEQA).
Fiscal Impact:
The externally managed investment portfolio earned $249,639 of interest during June 2026, as well as $266,608 of interest during May 2026, and $247,030 during April 2026. Fees for investment services during this period totaled $10,872. Net revenues received from investments are recorded to each fund based on a proportional share of invested funds for the period. Investment income is budgeted each year to account for this revenue source in each impacted City fund.
Public Notification:
None.
Attachments:
A. Investment Statistics
B. Monthly Consolidated Investment Portfolio Report prepared by Insight Investment C. Investment Report prepared by Insight Investment
D. City of Poway Cash and Investments Report at June 30, 2026 Reviewed/Approved By:
3 of 35
Reviewed By:
Alan Fenstermacher
City Attorney
Chris Hazeltine
City Manager
August 18, 2026, Item #5
City of Poway
Investment Statistics
Separately Managed Investment Pools
Fair Value:
CalTRUST Short-Term Deposits
CalTRUST Medium-Term Deposits
June
2025
$ 13,009,065
12,731,443
53,734,135
March
2026
$ 13,383,617
13,059,956
52,113,628
June
2026
13,483,291
13,106,763
53,623,818
Deposits at the Local Agency Investment Fund (LAIF)
Total Fair Value $ 79,474,643 $ 78,557,201 $ 80,213,872 Weighted Average Yield
Effective Average Duration in days
Weighted Average Maturity in days
Externally Managed Investment Pools
Fair Value:
4.24%
1 1
3.86%
1 1
3.80%
1 1
Cash $ 2,101,399 $ 2,125,104 $ 339,745
U.S. Treasury Notes
U.S. Instrumentalities
Corporate Bonds
Total Fair Value
Amortized Cost Value:
Cash
U.S. Treasury Notes
U.S. Instrumentalities
Corporate Bonds
Total Amortized Cost Value
Unrealized Gain (Loss)
Unrealized Gain (Loss) Percentage
Accrued Interest Earned
Weighted Average Yield
Effective Average Duration in years
Weighted Average Maturity in years
33,605,166
27,101,776
21,761,482
84,569,823
2,101,399
33,356,403
26,861,039
21,515,548
83,834,389
735,435
0.88%
211,884
4.36%
1.82 2.03
30,615,974
33,090,662
21,057,755
86,889,495
2,125,104
30,530,656
32,994,082
20,890,580
86,540,422
349,073
0.40%
268,809
4.29%
1.80 2.13
32,347,463
33,349,332
21,182,607
87,219,147
339,745
32,480,477
33,450,506
21,118,282
87,389,010
(169,863)
-0.19%
249,639
4.26%
1.83 2.16
Total Fair Value of Portfolio Assets $ 164,044,466 $ 165,446,696 $ 167,433,019 Weighted Average Yield
Effective Average Duration in years
Weighted Average Maturity in years
Glossary of Yield Terminology
4.30%
0.94 1.05
4.09%
0.95 1.12
Coupon: A bond's coupon is the periodic interest payment made to the holder of the fixed income security during the life of the bond. Coupon payments can be made monthly, quarterly, or annually.
Book Yield: The Book Yield is that rate of return that will make the present value of the future cash flows of a fixed income security equal to the price paid for the security. This assumes that the security will be held to its maturity.
Current Yield: Annual rate of return on an investment expressed as a percentage. Current Yield of a fixed income security is the annualized earnings (coupon) divided by the bond's market value as of the valuation date.
One Year Total Yield: The One Year Total Yield or One Year Return represents the portfolio's percentage change over a year's time, factoring in interest payments, changes in market value and reinvestment of distributions.
4.04%
0.95 1.13
Weighted Average Yield: The total yield on a bond portfolio divided by the number of bonds contained in it, weighted for the size of each bond so that the yield of large holdings does not drown out the calculation of yields on small holdings.
Yield to Maturity: The Yield to Maturity (YTM) or Market Yield to Maturity of a fixed income security is that rate of interest that will make the present value of the future cash flows equal to the market value as of the valuation date, assuming the bond is held to maturity. 4 of 35 ATTACHMENT A
August 18, 2026, Item #5
City of Poway
Monthly Consolidated Portfolio Report
June 30, 2026
City Managed Assets Market Value % Yield
LAIF 53,623,818 67% 3.81%
CalTrust -Short 13,483,291 17% 3.71%
CalTrust -Medium 13,106,763 16% 3.88%
Total Managed by City 80,213,872 100%
as % of Total Portfolio Assets 48%
Weighted Average Yield 3.80%
Days CalTrust-
Effective Average Duration 1.00 Short, 17%
Weighted Average Maturity 1.00
Insight Managed Assets Market Value % Yield
Cash 339,745 0% 3.52%
Treasury Securities 32,347,463 37% 4.12%
Instrumentality Securities 33,349,332 38% 4.20%
Corporate Notes 21,182,607 24% 4.64%
Total Managed by Insight 87,219,147 100%
as % of Total Portfolio Assets 52%
Weighted Average Yield 4.26%
Years
Effective Average Duration 1.83
Weighted Average Final Maturity 2.16
Total Portfolio Assets Market Value % Yield
LAIF 53,623,818 32% 3.81%
CalTrust -Short 13,483,291 8% 3.71%
CalTrust -Medium 13,106,763 8% 3.88%
Cash 339,745 0% 3.52%
Treasury Securities 32,347,463 19% 4.12%
Instrumentality Securities 33,349,332 20% 4.20%
Corporate Notes 21,182,607 13% 4.64%
Total Portfolio Assets 167,433,019 100% CalTrust-
Medium 8%
Weighted Average Yield 4.04%
Years
Effective Average Duration 0.95
Weighted Average Maturity 1.13
Total Portfolio Change Market Value
Beginning Balance 164,627,651
Ending Balance 167,433,019
For Insight Managed Assets, market values exclude accrued interest and purchase yields are presented.
The City provides the City Managed Assets information.
Insight Investment -Confidential -External
5 of 35 ATTACHMENT B
August 18, 2026, Item #5
6 of 35 ATTACHMENT C
August 18, 2026, Item #5
-.J
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U'I Contents
Fixed income market review
Activity and performance summary
Performance
Recap of securities held
Maturity distribution of securities held
Securities held
GASB 40 - Deposit and investment risk disclosure
Securities purchased
Securities sold and matured
Detail of return and interest received
Transaction report
Additional information
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3 4
6 7
8 9
15 20
21 22
26 28
August 18, 2026, Item #5
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FIXED INCOME MARKET REVIEW
As of June 30, 2026
Chart 1: FOMC and market participants turn more hawkish 6 5
4 3
2 0
2022
• • • • • • Market expectation s
(July 30, 2026)
- FOMC dot s (Mar 18,
2026)
- .. _ FOMC dots (June 17,
2026)
- Fed funds rate
2023 2024 2025 2026
Source: Bloomberg, June 30, 2026.
2027
Chart 2: Global oil prices revert closer to pre-war levels ~
io
~
:;;
a.
tF;
120
110
100
90 80
70 60
50 2025
2028
2026
- US-Iran war start s - VvTI crude oil
Source: Bloomberg, June 30, 2026
2029 2030
CITY OF POWAY
Economic Indicators and Monetary Policy
The FOMC voted unanimously to keep the Fed Funds Rate unchanged at 3.5% to 3.75%, as expected . The central bank's "dot plot" projections reflected that nine members estimated at least one hike by the end of 2026. This was a change from the median expectation of roughly one rate cut that the committee had previously forecast in March (Chart 1).
All eyes were on Kevin Warsh's debut press conference as Fed chair. He indicated the Federal Reserve will scale back forward guidance and other market communications. Chair Warsh also announced task forces to explore further changes to the Fed's approach.
Geopolitical risk appeared to ease as the US and Iran continued negotiations through mediators to resolve the conflict. Global oil prices moved close to pre-war levels (Chart 2).
Headline CPI accelerated in May from 3.8% to 4.2% year-over-year, and headline PCE inflation accelerated from 3.8% to 4.1 % year-over-year . Energy prices continued to be the major driver .
Core CPI rose from 2.8% to 2.9%, while core PCE rose from 3.3% to 3.4%.
Nonfarm payrolls increased by 172,000 in May, above expectations and with upward revisions to the prior two months . The unemployment rate held steady at 4.3%. Weekly initial jobless claims remained contained in June. Continuing claims rose modestly from 1.786 million to
1.821 million .
Nominal personal income rose 0.7% month-over-month in May, a rebound from April's flat reading. Consumer spending increased 0.7% month-over-month in nominal terms. The personal savings rate was 3.0% in May and remained near multi-year lows. The Conference Board's consumer confidence index fell 1.9 points in June to 91 .2.
The final estimate of Q1 GDP growth was 2.1 % annualized, higher than the previous estimate of 1.6%. Downward revisions to imports were a major driver .
Interest Rate Summary
Front-end yields rose as markets priced in stronger rate hike probabilities over the next year.
At the end of June, the 3-month US Treasury bill yielded 3.81 %, the 6-month US Treasury bill yielded 3.97%, the 2-year US Treasury note yielded 4.17%, the 5-year US Treasury note yielded
4.23% and the 10-year US Treasury note yielded 4.47%.
3 August 18, 2026, Item #5
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ACTIVITY AND PERFORMANCE SUMMARY
For the period June 1, 2026 - June 30, 2026
Amortized Cost Basis Activity Summary
Opening balance
Income received
Total receipts
Total disbursements
lnterportf olio transfers
Total lnterportfolio transfers
Realized gain (loss)
Change in accruals from security movement
Total amortization expense
Total 01D/MKT accretion Income
Return of capital
Closing balance
Ending fair value
Unrealized gain (loss)
461,681.39
0.00 CQrnp11rntive B11tes Qf Beturn 1%)
*Twelve *Six
month trailing month trailing
Fed Funds
Overnight Repo
Merrill Lynch 3m US Treas Bill
Merrill Lynch 6m US Treas Bill
ML 1 Year US Treasury Note
ML 2 Year US Treasury Note
ML 5 Year US Treasury Note
* rates reflected are cumulative
9 of35
3.87 1.79
3.94 1.81
3.76 1.78
3.70 1.77
3.71 1.81
3.70 1.85
3.84 1.93
86,874,409 .30
461,681 .39
0.00 0.00
0.00 0.00
(5,474.75)
58,394.05
0.00 87,389,009.99
87,219,147.29
(169,862.70)
*One month
0.29 0.30
0.30 0.30
0.32 0.33
0.34 l:!etail Qf ArnQr:tized CQst 611sis Beturn
Interest Accretion Realized
earned (amortization) gain (loss)
Cash and Cash Equivalents 1,023.69 0.00 0.00
Corporate Bonds 71,647.05 6,665.70 0.00
Government Agencies 96,295.54 19,913.56 0.00
Government Bonds 80,672.75 26,340 .04 0.00
Total 249,639.03 52,919.30 0.00
surnrn11ry Qf ArnQr:tized CQst Basis Beturn for the PedQd Interest earned
Accretion (amortization)
Realized gain (loss) on sales
Total income on portfolio
Average daily amortized cost
Period return (%)
YTD return (%)
Weighted average final maturity in days
CITY OF POWAY
Total
income
1,023.69
78,312.75
116,209.10
107,01 2.79
302,558.33
Total portfolio
249,639 .03
52,919 .30
0.00 302,558.33
87,186,205 .34
0.34 2. 14
790
4 August 18, 2026, Item #5
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ACTIVITY AND PERFORMANCE SUMMARY
For the period June 1, 2026 - June 30, 2026
Fair Value Basis Activity Summary
Opening balance
Income received
Total receipts
Total disbursements
lnterportfolio transfers
Total lnterportfollo transfers
unrealized gain (loss) on security movements
Change in accruals from security movement
Return of capital
Change in fair value for the period
Ending fair value
461,681.39
0.00 CQroPi!@tive Bi!tes Qf Beturn (%l
*Twelve * Six
month trailing month trailing
Fed Funds
Overnight Repo
ICE Bola 3 Months UST-BILL
ICE Bola 6m US Treas Bill
ICE Bola 1 Yr US Treasury Note
ICE BofA US Treasury 1-3
ICE BofA US Treasury 1-5
* rates reflected are cumulative
10 of 35
3.87 1.79
3.94 1.81
3.84 1.74
3.86 1.62
3.37 1.21
2.94 0.68
2.71 0.43
86,911,816.32
461,681 .39
0.00 0.00
0.00 0.00
0.00 (154,350.42)
87,219,147.29
* One month
0.29 0.30
0.29 0.24
0.12 0.06
0.06 C!etail Qf Eai[ ~!!II.le B!!sis Betum
Interest Change in
earned fair value
Cash and Cash Equivalents 1,023.69 0.00
Corporate Bonds 71 ,647.05 (43,395.49)
Government Agencies 96,295.54 (59,838.47)
Government Bonds 80,672.75 (51,116.46)
Total 249,639 .03 (154,350.42)
suroro!lry Qf Ei!i[ V!!lue B!!sis Betum fo[ the Pe[iQd
Interest earned
Change in fair value
Total income on portfolio
Average daily total value*
Period return(%)
YTD return(%)
Weighted average final maturity in days
* Total value equals market value and accrued interest
--·------
CITY OF POWAY
Total
income
1,023.69
28,251.56
36,457 .07
29,556.29
95,288.61
Total portfolio
249,639.03
(154,350.42)
95,288.61
87,820,160.41
0.11 0.90
790
5 August 18, 2026, Item #5
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PERFORMANCE
For the period June 1, 2026 - June 30, 2026
Total return performance(%)
CITY OF POWAY
Benchmark
~
5 4
3 2
1 month
0.11 0.06
oL------ ---
1 month
*Returns for periods greater than one year are annualized Returns are gross of fees
Portfolio incept ion is 08/3112015
Benchmark history
ICE BofA US Treasury 1-3: 08/31/2015 - present
11 of 35
3 months
0.46 0.39
3 months YTD
YTD
0.90 0.68
1 year
3.27 2.94
Total return performance
1 year 3 years*
- CITYOFPOWAY - BENCHMARK
3 years*
4.66 4.38
5 years* 1 O years*
5 years*
2.61 1.94
Since
inception*
10 years*
2.23 1.77
CITY OF POWAY
Since inception*
2.18 1.75
6 August 18, 2026, Item #5
RECAP OF SECURITIES HELD .....
N
0 As of June 30, 2026 ....
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Historical
cost
Cash and Cash Equivalents 339,745 .1 1
Corporate Bonds 20,885,608.50
Government Agencies 32,927,529.49
Government Bonds 31,617,101.25
.t} f::11
Amortized Fair value Unrealized Weighted
cost gain (loss) average
final
maturity (days)
339,745.11 339,745.11 0.00 1
21,118,282 .11 21,182,606.89 64,324.78 653
33,450,505 .95 33,349,332 .29 (101,173.66) 816
32,480,476 .82 32,347,463.00 (133,013.82) 862
l!S&i!Z.l1f1f.kim l!5Mt-•~ -
Portfolio diversification (%)
■ Cash and Cash Equivalents
■ Corporate Bonds
■ Government Agencies
■ Government Bonds
Total
Percent
of
portfolio
0.40 24.35
38.39 36.86
0.40 24.35
38.39 36.86
100.00
CITY OF POWAY
Weighted
average
effective
duration (years)
0.00 1.42
1.75 2.19
7 August 18, 2026, Item #5
.... w
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U'I
MATURITY DISTRIBUTION OF SECURITIES HELD
As of June 30, 2026
Maturity
---
Under 90 days
90 to 179 days
180 days to 1 year
1 to 2 years
2 to 3 years
3 to 4 years
4 to 5 years
Over 5 years
13 of 35
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.B
V,
:i:
ti~ o:,<~ '\'1>
-0,t. " c§:>'o v~
Maturity distribution
o~~ ,g} ~~ rb.,
"~ -:,.e -:,.e
,o 0'1, ~
c,, .__~ '1,,o
o1fi
'b<::)
"
CITY OF POWAY
Historic cost Percent
4,305,834.11 5.02
8,000,643.91 9.33
6,167,892.47 7.19
24,737,624.19 28.84
15,843,119.02 18.47
18,466,123.63 21 .53
8,248,747.02 9.62
0.00 0.00
85,769,984.35 100.00
rb"' rb., rb"' -:,.e -:,.e -:,.e
b, <-:, ~<-:, ,o t.'o ~ ,,.e
0 8
August 18, 2026, Item #5
SECURITIES HELD
CITY OF POWAY
.....
.i:,.
As of June 30, 2026 0 ....
w u, Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % Call date shares gain accrued Port
(loss) interest cost
Cash and Cash Equivalents
Cash and Cash Equivalents 0.000 339,745.11 339,745.11 339,745.11 339,745.11 0.00 0.00 0.40 r ~
-Total Cash and Cash Equivalents 339,745.11 339,745.11 339,745.11 339,745.11 0.00 0.00 0.40 Corporate Bonds
91159HHN3 US BANCORP 2.375% 22JUL2026 (CALLABLE 25JUN26) 2.375 07/22/2026 1,000,000.00 944,140.00 998,494.87 998,904.29 409.42 10,423.61 1.10 02665WBH3 AMERICAN HONDA FINANCE 2.3% 09SEP2026 2.300 09/09/2026 1,100,000.00 1,034,869.00 1,096,024.20 1,095,943.30 (80.90) 7,800.83 1.21 17325FBC1 CITIBANK NA 5.488% 04DEC2026 (CALLABLE 04NOV26) 5.488 12/04/2026 1,400,000.00 1,420,132.00 1,402,459.71 1,406,240.77 3,781.06 5,548.98 1.66 11/04/2026
17275RBQ4 CISCO SYSTEMS INC 4.8% 26FEB2027 (CALLABLE 4.800 02/26/2027 1,250,000.00 1,253,775.00 1,250,775.29 1,254,448 .11 3,672.82 20,666.67 1.46 26JAN27) 01/26/2027
037833DB3 APPLE INC 2.9% 12SEP2027 (CALLABLE 12JUN27) 2.900 09/12/2027 1,300,000.00 1,234,987.00 1,282,088.47 1,281,607 .90 (480.57) 11,310.00 1.44 06/12/2027
24422EWK1 JOHN DEERE CAPITAL CORP 4. 15% 15SEP2027 4.150 09/15/2027 1,000,000.00 992,020.00 997,745.37 998,748.74 1,003.37 12,104 .17 1.16 89236TKQ7 TOYOTA MOTOR CREDIT CORP 4.625% 12JAN2028 4.625 01/12/2028 1,100,000.00 1,091,585.00 1,097 ,125 .26 1,105,285.07 8,159.8 1 23,741.67 1.27 46625HRY8 JPMORGAN CHASE & CO 3.782% 01 FEB2028 (CALLABLE 3.782 02/01/2028 2,000,000.00 1,909,600.00 1,963,401.34 1,991,873 .90 28,472.56 31,306.56 2.23 01FEB27) 02/01/2027
194162AR4 COLGATE-PALMOLIVE CO 4.6% 01 MAR2028 (CALLABLE 4.600 03/01/2028 2,400,000.00 2,391,240.00 2,396,703.73 2,414,554.13 17,850.40 36,493.33 2.79 01 FEB28) 02/01/2028
91159HJF8 US BANCORP 4.548% 22JUL2028 (CALLABLE 22JUL27) 4.548 07/22/2028 900,000.00 890,253.00 895,231.56 900,132.65 4,901.09 17,964.60 1.04 0712212027
9 14 of 35
August 18, 2026, Item #5
SECURITIES HELD
CITY OF POWAY
....
u,
As of June 30, 2026 0 ....
w u, Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % Call date shares gain accrued Port
(loss) interest cost
Corporate Bonds
17325FBB3 CITIBANK NA 5.803% 29SEP2028 (CALLABLE 29AUG28) 5.803 09/29/2028 1,000,000.00 1,027,800.00 1,013,492.81 1,028,834.80 15,341.99 14,66 8.69 1.20 08/29/2028
24422EXH7 JOHN DEERE CAPITAL CORP 4.5% 16JAN2029 4.500 01/16/2029 1,200,000.00 1,220,316.00 1,217,262.08 1,203,093.82 (14,168.26) 24,600.00 1.42 17275RBR2 CISCO SYSTEMS INC 4.85% 26FEB2029 (CALLABLE 4.850 02/26 /2029 1,000,000.00 999,390.00 999,647.99 1,010,618.90 10,970.91 16,705.56 1.17 26JAN29) 01/26/2029
717081ET6 PFIZER INC 3.45% 15MAR2029 (CALLABLE 15DEC28) 3.450 03/15/2029 1,300,000.00 1,222,104.00 1,254 ,249.35 1,269,739 .56 15,490.21 13,081 .25 1.42 12/15/2028
95040QAH7 WELL TOWER OP LLC 4. 125% 15MAR2029 (CALLABLE 4.125 03/15/2029 1,250,000.00 1,246,837.50 1,247,532.85 1,235,194.13 (12,338 .72) 15,039.06 1.45 15DEC28) 12/15/2028
06051GMY2 BANK OF AMERICA CORP 4.477% 23APR2030 4.477 04/23/2030 2,000 ,000.00 2,006,560.00 2,006,047.23 1,987,386 .82 (18,660.41) 16,664 .39 2.34 (CALLABLE 23APR29) 04/23/2029
-Total Corporate Bonds 21,200,000.00 20,885,608.50 21 ,118,282.11 21,182,606.89 64,324.78 278,119 .37 24.35 Government Agencies
3133EPUW3 FEDERAL FARM CREDIT BANK 4.75% 01 SEP2026 4.750 09/01/2026 2,000 ,000.00 1,987,080.00 1,998,923 .63 2,002 ,445.62 3,521 .99 31,402.78 2.32 3130APJH9 FEDERAL HOME LOAN BANK 2.5% 280CT2026 2.500 10/28/2026 2,050,000.00 1,860,110.55 2,031,809 .59 2,040,777 .79 8,968.20 8,826.39 2.17 (CALLABLE 28JUL26) #0006 07/28/2026
3133EPK79 FEDERAL FARM CREDIT BANK 4.375% 07DEC2026 4.375 12/07/2026 1,200,000. 00 1, 196,508.00 1,199,400.20 1,201,519.85 2,119.65 3,354 .17 1.40 3130AQF65 FEDERAL HOME LOAN BANK 1 .25% 21 DEC2026 1.250 12/21/ 2026 2,300,000 .00 2,055 ,763.00 2,269,275 .65 2,270,398 .10 1,122.45 718.75 2.40 3130ATHWO FEDERAL HOME LOAN BANK 4.125% 1 OSEP2027 4.125 09/1012027 2,000,000 .00 1,993,260.00 1,998,146.89 1,998,668.76 521 .87 25,208 .33 2.32 10 15 of 35
August 18, 2026, Item #5
.....
O'\
SECURITIES HELD
CITY OF POWAY
0 ....
w u,
As of June 30, 2026
Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % Call date shares gain accrued Port
(loss) interest cost
Government Agencies
3133EPCG8 FEDERAL FARM CREDIT BANK 4.125% 01 DEC2027 4.125 12/01/2027 1,000,000 .00 989,640 .00 996 ,655.70 999,569 .80 2,914 .10 3,322 .92 1.15 3130ATUS4 FEDERAL HOME LOAN BANK 4.25% 1 ODEC2027 4.250 12/10/2027 2,000,000.00 2,010,731.16 2,003,429.89 2,001 ,500.06 (1 ,929.83) 4,722.22 2.34 3133EN5N6 FEDERAL FARM CREDIT BANK 4% 06JAN2028 4.000 01/06/2028 1,100,000.00 1,105,292.88 1,101,743.71 1,097,799.73 (3,943.98) 21,266.67 1.29 3130AEB25 FEDERAL HOME LOAN BANK 3.25% 09JUN2028 3.250 06/09/2028 2,700 ,000.00 2,574,679.50 2,635,425.27 2,651 ,946.45 16,521.18 5,118.75 3.00 3134HBT43 FREDDIE MAC 4.125% 265EP2028 (CALLABLE 265EP26) 4.125 09/26/2028 1,500,000 .00 1,496,100.00 1,496,220.52 1,493,515.37 (2,705.15) 16,156.25 1.74 09/26/2026
3135GAV57 FANNIE MAE 3.91 % 020CT2028 (CALLABLE 020CT26) 3. 910 1 0/02/2028 1,200,000.00 1,199,400 .00 1,199,510.77 1,192,439 .27 (7,071.50) 11,469.33 1.40 10/02/2026
3133ER5D9 FEDERAL FARM CREDIT BANK 4.49% 05MAR2029 4.490 03/05/2029 1,900,000.00 1,911,894.00 1,904,476.54 1,889,094 .89 (15,381.65) 27,251 .81 2.23 (CALLABLE 05MAR27) 03/05/2027
3133EP5U5 FEDERAL FARM CREDIT BANK 4.125% 20MAR2029 4.125 03/20/2029 2,000 ,000.00 1,985,860.00 1,991,810.02 1,996, 168.00 4,357.98 22,916.67 2.32 3130ATUT2 FEDERAL HOME LOAN BANK 4.5% 14DEC2029 4.500 12/14/2029 1,200,000.00 1,211,040 .00 1,208,106.47 1,211,856 .48 3,750.01 2,400.00 1.41 3134HAW33 FREDDIE MAC 4.75% 18DEC2029 (CALLABLE 18SEP26) 4.750 12/18/2029 1,000,000 .00 1,005,145.00 1,000,000.00 998,079.42 (1 ,920.58) 1,583.33 1.17 09/18/2026
3133EMM41 FEDERAL FARM CREDIT BANK 1 .85% 28MAR2030 1.850 03/28/2030 2,500,000.00 2,323,482.50 2,336,384 .64 2,286,350 .98 (50,033.66) 11,819.44 2.71 (CALLABLE 26JUN26)
31358DDR2 FANNIE MAE 0% 15MAY2030 0.000 05/15/2030 1,900,000.00 1,563,815.15 1,626,167.27 1,610,562.47 (15,604.80) 0.00 1.82 11 16 of 35
August 18, 2026, Item #5
..... ....,
SECURITIES HELD
CITY OF POWAY
0 ....
w u,
As of June 30, 2026
Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % Call date shares gain accrued Port
(loss) interest cost
Government Agencies
3134HBSXO FREDDIE MAC 4.5% 23MAY2030 (CALLABLE 23NOV26) 4.500 05/23/2030 1,000,000.00 1,006 ,399.00 1,002,068.75 996,138.20 (5,930.55) 4,625.00 1.17 11/23/2026
880591 FE7 TENN VALLEY AUTHORITY 3.875% 01 AUG2030 3.875 08/01/2030 1,000,000.00 1,001 , 180.00 1,001,054.00 987,609.88 (13,444.12) 16,D38.19 1.17 3133ETW29 FEDERAL FARM CREDIT BANK 4.17% 19AUG2030 4.170 08/19/2030 1,200,000.00 1,199,760.00 1,199,810.76 1,189,210.27 (10,600.49) 18,209.00 1.40 (CALLABLE 23JUN26)
3134HCQK8 FREDDIE MAC 4.125% 21JAN2031 (CALLABLE 210CT26) 4.125 01/21/2031 1,250,000.00 1,250,388.7 5 1,250,085.68 1,233,680.90 (16,404.78) 22,773.44 1.46 10/21/2026
--Total Government Agencies 34,000 ,000.00 32,927,529 .49 33,450,505 .95 33,349 ,332.29 (101,173.66) 259,183 .44 38.39 Government Bonds
912828YU8 USA TREASURY 1.625% 30NOV2026 1.625 11/30/2026 1 ,600,000.00 1 ,468, 130.36 1 ,580,50 5.04 1,585,248.43 4,743.39 2,131.15 1.71 91282CDQ1 USA TREASURY 1 .25% 31 DEC2026 1.250 12131 /2026 2,350,000.00 2,088 ,287.11 2,316,237.59 2,318,868.00 2,630.41 0.00 2.43 91282CEF4 USA TREASURY 2.5%31 MAR2027 2.500 03/31/2027 1 ,000,000.00 924,573.66 982,644.81 988,906.25 6,261.44 6,215.85 1.08 91282CET4 USA TREASURY 2.625% 31 MAY2027 2.625 05/31/2027 2,000,000.00 1,901,256 .70 1,971,264.09 1,973 ,546.88 2,282.79 4,303.28 2.22 91282CEW7 USA TREASURY 3.25% 30JUN2027 3.250 06/30/2027 740,000.00 699,620.45 728,498.85 733,790.93 5,292.08 0.00 0.82 91282CFB2 USA TREASURY 2.75% 31JUL2027 2.750 07/31/2027 1 ,800,000.00 1,671,756.03 1,760,562.18 1,773,632.81 13,070.63 20,511.05 1.95 91282CFUO USA TREASURY 4.125% 31 OCT2027 4.125 10131/2027 2,100,000.00 2,077,858.60 2,092,407.27 2,098,769.53 6,362.26 14,359.04 2.42 12 17 of 35
August 18, 2026, Item #5
.....
00 SECURITIES HELD
CITY OF POWAY
0 ....
w
VI
As of June 30, 2026
Cusip Description Coupon Maturity/ Par value or Historical cost Amortized cost Fair value Unrealized Total % Call date shares gain accrued Port
(loss) interest cost
Government Bonds
9128283FS USA TREASURY 2.25% 15NOV2027 2.250 11/15/2027 1,100,000.00 1,030,523 .22 1,079,311 .50 1,072,113 .28 (7,198.22) 3,093 .75 1.20 91282CHE4 USA TREASURY 3.625% 31 MAY2028 3.625 05/31/2028 2,100 ,000.00 2,074,577 .35 2,088,293.70 2,079,328 .13 18,965.57) 6,239.75 2.42 91282CCH2 USA TREASURY 1 .25% 30JUN2028 1.250 06/30/2028 1,700,000.00 1,473,488.28 1,602,324.04 1,605,968 .75 3,644.71 0.00 1.72 9128285M8 USA TREASURY 3.125% 15NOV2028 3.125 11/15/2028 2,200,000.00 2,059,929.24 2,123,054.95 2,148,609 .36 25,554.41 8,593.75 2.40 91282CKX8 USA TREASURY 4.25% 30JUN2029 4.250 06/30/2029 1,200,000.00 1,206,004.02 1,204,027.20 1,202,718 .74 11,308.46) 0.00 1.41 91282CFJ5 USA TREASURY 3.125% 31 AUG2029 3.125 08/31/2029 1,200,000.00 1,175,300 .90 1,183,604.59 1,162,968.74 120,635.85) 12,432.07 1.37 91282CLK5 USA TREASURY 3.625% 31 AUG2029 3.625 08/3112029 1,200,000.00 1,197,332.15 1,197,790.94 1,180,781.26 117,009.68) 14,421.20 1.40 91282CFT3 USA TREASURY 4% 31 OCT2029 4.000 10/31/2029 1,600,000.00 1,616,255.36 1,612,230.13 1,591,187.50 121,042.63) 10,608 .70 1.88 91282CMG3 USA TREASURY 4.25% 31JAN2030 4.250 01/31/2030 1 ,600,000.00 1,633,755.36 1 ,626,006.34 1,603,500.00 122,506.34) 28,176.80 1.90 91282CMU2 USA TREASURY 4% 31 MAR2030 4.000 03/31/2030 1,750,000 .00 1,759,439.46 1,758,868 .59 1,738,857.42 120,011.17) 17,404 .37 2.05 912828ZQ6 USA TREASURY 0.625% 15MAY2030 0.625 05/15/2030 875,000.00 761,594.73 780,050.41 764,497.07 (15,553.34) 683.59 0.89 91282CHJ3 USA TREASURY 3.75% 30JUN2030 3.750 06130/2030 2,000,000 .00 2,013,991.08 2,012,361.74 1,967,500.00 144,861.74) 0.00 2.35 13 18 of 35
August 18, 2026, Item #5
...
\0
0 ....
w u,
SECURITIES HELD
As of June 30, 2026
Cusip Description
Government Bonds
91282CHW4 USA TREASURY 4.125% 31 AUG2030
91282CJM4 USA TREASURY 4.375% 30NOV2030
Total Government Bonds
19 of 35
Coupon Maturity/ Par value or Historical cost
Call date shares
4.125 08/3112030 1 ,250,000.00 1,272,465.13
4.375 11/30/2030 1,500 ,000.00 1,510,962 .06
32,865,000.00 31,617,101.25
:!:11\[1:tllrii~ i:l-irl&kl:MiJ.1
CITY OF POWAY
Amortized cost Fair value Unrealized Total %
gain accrued Port
(loss) interest cost
1,269,606.78 1,246,533.20 (23,073.58) 17,094.09 1.48
1,510,826.08 1,510,136.72 (689.36) 5,379.10 1.76
32,480,476.82 32,347,463.00 (133,013.821 171,647.54 36.86 t:ill:tlilma-1-> l;t-Jm,.U,.E,!J Iha,,.
14 August 18, 2026, Item #5
N
0 GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
CITY OF POWAY 0 .....
w u,
As of June 30, 2026
Cusip Description Coupon Maturity Call date S&P Moody Par value or Historical % Portfolio Market % Portfolio Effective date rating rating shares cost hist cost value mkt value dur (yrs) United States Treasury Note/Bond
912828YU8 USA TREASURY 1 .625% 1.625 11/30/2026 AA+ Aa1 1,600,000.00 1,468,130.36 1.71 1,585,248.43 1.82 0.41 91282CDQ1 USA TREASURY 1 .25% 1.250 12/31/2026 AA+ Aa1 2,350,000.00 2,088,287.11 2.43 2,318,868.00 2.66 0.49 91282CEF4 USA TREASURY 2.5% 2.500 03/31/2027 AA+ Aa1 1,000,000.00 924,573.66 1.08 988,906.25 1.13 0.73 91282CET4 USA TREASURY 2.625% 2.625 05/31/2027 AA+ Aa1 2,000,000.00 1,901,256.70 2.22 1,973,546.88 2.26 0.90 91282CEW7 USA TREASURY 3.25% 3.250 06/30/2027 AA+ Aa1 740,000.00 699,620.45 0.82 733,790.93 0.84 0.97 91282CFB2 USA TREASURY 2. 75% 2.750 07/31/2027 AA+ Aa1 1,800,000.00 1,671,756.03 1.95 1,773,632.81 2.03 1.04 91282CFUO USA TREASURY 4.125% 4.125 10/31/2027 AA+ Aa1 2,100,000.00 2,077,858.60 2.42 2,098,769.53 2.41 1.28 9128283F5 USA TREASURY 2.25% 2.250 11/15/2027 AA+ Aa1 1,100,000.00 1,030,523.22 1.20 1,072,113.28 1.23 1.33 91282CHE4 USA TREASURY 3.625% 3.625 05/31/2028 AA+ Aa1 2,100,000.00 2,074,577.35 2.42 2,079,328.13 2.38 1.82 91282CCH2 USA TREASURY 1.25% 1.250 06/30/2028 AA+ Aa1 1,700,000.00 1,473,488.28 1.72 1 ,605, 968.75 1.84 1.94 9128285MB USA TREASURY 3.125% 3.125 11/15/2028 AA+ Aal 2,200,000.00 2,059,929.24 2.40 2,148,609.36 2.46 2.25 91282CKX8 USA TREASURY 4.25% 4.250 06/30/2029 AA+ Aal 1,200,000.00 1,206,004.02 1.41 1,202,718.74 1.38 2.79 91282CLK5 USA TREASURY 3.625% 3.625 08/31/2029 AA+ Aal 1,200,000.00 1,197,332.15 1.40 1,180,781.26 1.35 2.92 91282CFJ5 USA TREASURY 3.125% 3.125 08/31/2029 AA+ Aal 1,200,000.00 1,175,300.90 1.37 1,162,968.74 1.33 2.95 91282CFT3 USA TREASURY 4% 4.000 10/31/2029 AA+ Aa1 1,600,000.00 1,616,255.36 1.88 1,591,187.50 1.82 3.07 91282CMG3 USA TREASURY 4.25% 4.250 01/31/2030 AA+ Aa1 1,600,000.00 1,633,755.36 1.90 1,603,500.00 1.84 3.24 91282CMU2 USA TREASURY 4% 4.000 03/31/2030 AA+ Aa1 1,750,000.00 1,759,439.46 2.05 1,738,857.42 1.99 3.41 912828ZQ6 USA TREASURY 0.625% 0.625 05/15/2030 AA+ Aa1 875,000.00 761,594.73 0.89 764,497.07 0.88 3.75 91282CHJ3 USA TREASURY 3.75% 3.750 06/30/2030 AA+ Aa1 2,000,000.00 2,013,991.08 2.35 1,967,500.00 2.26 3.67 91282CHW4 USA TREASURY 4.125% 4.125 08/31/2030 AA+ Aa1 1,250,000.00 1,272,465.13 1.48 1,246,533.20 1.43 3.74 91282CJM4 USA TREASURY 4.375% 4.375 11/30/2030 AA+ Aa1 1,500,000.00 1,510,962.06 1.76 1,510,136.72 1.73 3.97 Issuer total 32,865,000.00 31,617,101.25 36.86 32,347,463.00 37.09 2.19 Federal Farm Credit Banks Funding Corp
3133EPUW3 FEDERAL FARM CREDIT 4.750 09/01/2026 AA+ Aa1 2,000,000.00 1,987,080.00 2.32 2,002,445.62 2.30 0.17 15 20 of35
August 18, 2026, Item #5
GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
CITY OF POWAY
N ..... As of June 30, 2026 0 ....
w
U1 Cusip Description Coupon Maturity Call date S&P Moody Par value or Historical % Portfolio Market % Portfolio Effective date rating rating shares cost hist cost value mktvalue dur (yrs) Federal Farm Credit Banks Funding Corp
3133EPK79 FEDERAL FARM CREDIT 4.375 12/07/2026 AA+ Aa1 1,200,000.00 1,196,508.00 1.40 1,201,519.85 1.38 0.43 3133EPCG8 FEDERAL FARM CREDIT 4.125 12/01/2027 AA+ Aa1 1,000,000.00 989,640.00 1.15 999,569.80 1.15 1.36 3133ENSN6 FEDERAL FARM CREDIT 4.000 01/06/2028 AA+ Aa1 1,100,000.00 1,105,292.88 1.29 1,097,799.73 1.26 1.43 3133ER5D9 FEDERAL FARM CREDIT 4.490 03/05/2029 03/05/2027 AA+ Aa1 1,900,000.00 1,911,894.00 2.23 1,889,094.89 2.17 1.63 3133EPSU5 FEDERAL FARM CREDIT 4.125 03/20/2029 AA+ Aa1 2,000,000.00 1,985,860.00 2.32 1,996,168.00 2.29 2.52 3133EMM41 FEDERAL FARM CREDIT 1.850 03/28/2030 AA+ Aa1 2,500,000.00 2,323,482.50 2.71 2,286,350.98 2.62 3.49 3133ETW29 FEDERAL FARM CREDIT 4.170 08/19/2030 AA+ Aa1 1,200,000.00 1,199,760.00 1.40 1,189,210.27 1.36 2.01 Issuer total 12,900,000.00 12,699,517.38 14.81 12,662,159.14 14.52 1.77 Federal Home Loan Banks
3130APJH9 FEDERAL HOME LOAN 2.500 10/28/2026 07/28/2026 AA+ Aa1 2,050,000 .00 1,860,110.55 2.17 2,040,777.79 2.34 0.32 3130AQF65 FEDERAL HOME LOAN 1.250 12/21/2026 AA+ Aa1 2,300,000.00 2,055,763.00 2.40 2,270,398.10 2.60 0.47 3130ATHWO FEDERAL HOME LOAN 4.125 09/10/2027 AA+ Aa1 2,000,000.00 1,993,260.00 2.32 1,998,668.76 2.29 1.14 3130ATUS4 FEDERAL HOME LOAN 4.250 12/10/2027 AA+ Aa1 2,000,000.00 2,010,731.16 2.34 2,001,500.06 2.29 1.38 3130AEB25 FEDERAL HOME LOAN 3.250 06/09/2028 AA+ Aa1 2,700,000.00 2,574,679.50 3.00 2,651,946.45 3.04 1.85 3130ATUT2 FEDERAL HOME LOAN 4.500 12/14/2029 AA+ Aa1 1,200,000.00 1,211,040.00 1.41 1,211,856.48 1.39 3.17 lssuertotal 12,250,000.00 11,705,584.21 13.65 12,175,147.64 13.96 1.30 Federal Home Loan Mortgage Corp
3134HBT43 FREDDIE MAC 4.125% 4.125 09/26/2028 09/26/2026 AA+ Aa1 1,500,000.00 1,496,100.00 1.74 1,493,515.37 1.71 1.29 3134HAW33 FREDDIE MAC 4.75% 4.750 12/18/2029 09/18/2026 AA+ Aa1 1,000,000.00 1,005,145.00 1.17 998,079.42 1.14 1.34 3134HBSXO FREDDIE MAC 4.5% 4.500 05/23/2030 11/23/2026 AA+ Aa1 1,000,000.00 1,006,399.00 1.17 996,138.20 1.14 1.87 3134HCQK8 FREDDIE MAC 4.125% 4.125 01/21/2031 10/21/2026 AA+ Aa1 1,250,000 .00 1,250,388.75 1.46 1,233,680.90 1.41 2.71 Issuer total 4,750,000.00 4,758,032.75 5.55 4,721,413.89 5.41 1.80 ----- ------ ----- -·--··-------~--
16 21 of 35
August 18, 2026, Item #5
N
N
GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
CITY OF POWAY 0 ....
w u,
As of June 30, 2026
Cusip Description Coupon Maturity Call date S&P Moody Par value or Historical % Portfolio Market % Portfolio Effective date rating rating shares cost hist cost value mkt value dur (yrs) Citibank NA
17325FBC1 CITIBANK NA 5.488 % 5.488 12/04/2026 11/04/2026 A+ Aa3 1,400,000 .00 1,420,132 .00 1.66 1,406 ,240.77 1.61 0.34 17325FBB3 CITIBANK NA 5.803% 5.803 09/29/2028 08/29/2028 A+ Aa3 1,000,000 .00 1,027,800.00 1.20 1,028,834.80 1.18 2.01 Issuer total 2,400,000.00 2,447,932 .00 2.85 2,435,075 .57 2.79 1.04 Colgate-Palmolive Co
194162AR4 COLGATE-PALMOLIVE CO 4.600 03/01/2028 02/01/2028 A+ Aa3 2,400,000.00 2,391,240 .00 2.79 2,414,554 .13 2.77 1.52 Issuer total 2,400,000.00 2,391,240.00 2.79 2,414,554.13 2.77 1.52 Cisco Systems Inc
17275RBQ4 CISCO SYSTEMS INC 4.8% 4.800 02/26/2027 01/26/2027 AA· Al 1,250,000.00 1,253,775.00 1.46 1,254,448.11 1.44 0.58 17275RBR2 CISCO SYSTEMS INC 4.85% 4.850 02/26/2029 01/26/2029 AA· Al 1,000,000 .00 999,390 .00 1.17 1,010,618. 90 1.16 2.39 Issuer total 2,250,000.00 2,253,165 .00 2.63 2,265,067.01 2.60 1.38 John Deere Capital Corp
24422EWK1 JOHN DEERE CAPITAL 4.150 09/15/2027 A Al 1,000,000.00 992,020 .00 1.16 998,748.74 1.15 1.16 24422EXH7 JOHN DEERE CAPITAL 4.500 01/16/2029 A Al 1,200,000.00 1,220,316 .00 1.42 1,203,093.82 1.38 2.33 Issuer total 2,200,000.00 2,212,336.00 2.58 2,201,842.56 2.52 1.81 JPMorgan Chase & Co
46625HRYB JPMORGAN CHASE & CO 3.782 02/01/2028 02/01/2027 A Al 2,000,000.00 1,909,600.00 2.23 1,991,873.90 2.28 0.57 Issuer total 2,000,000.00 1,909,600 .00 2.23 1,991,873 .90 2.28 0.57 Bank of America Corp
06051GMY2 BANK OF AMERICA CORP 4.477 04/23/2030 04/23/2029 A· Al 2,000,000.00 2,006,560 .00 2.34 1,987,386.82 2.28 2.60 Issuer total 2,000,000.00 2,006,560.00 2.34 1,987,386.82 2.28 2.60 US Bancorp
91159HHN3 US BANCORP 2.375% 2.375 07/22/2026 A A3 1,000,000.00 944,140.00 1.10 998,904 .29 1.15 0.06 17 22 of35
August 18, 2026, Item #5
GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
CITY OF POWAY
N w
As of June 30, 2026 0 ...,
w u, Cusip Description Coupon Maturity Call date S&P Moody Par value or Historical % Portfolio Market % Portfolio Effective date rating rating shares cost hist cost value mktvalue dur (yrs) US Bancorp
91159HJF8 US BANCORP 4.548% 4.548 07/22/2028 07/22/2027 A A3 900,000.00 890,253.00 1.04 900,132.65 1.03 1.00 Issuer total 1,900,000.00 1,834,393.00 2.14 1,899,036 .94 2.18 0.52 Fannie Mae Principal Strip
31358DDR2 FANNIE MAE 0% 0.000 05/15/2030 AA+ Aa1 1,900,000.00 1,563,815.15 1.82 1,610,562.47 1.85 3.80 Issuer total 1,900,000 .00 1,563,815.15 1.82 1,610,562.47 1.85 3.80 Apple Inc
037833D63 APPLE INC 2.9% 2.900 09/12/2027 06/12/2027 AA+ Aaa 1,300,000.00 1,234,987.00 1.44 1,281 ,607.90 1.47 1.13 Issuer tot a I 1,300,000.00 1 ,234, 987 .00 1.44 1,281,607.90 1.47 1.13 Pfizer Inc
717081ET6 PFIZER INC 3.45% 3.450 03/15/2029 12/15/2028 A A2 1,300,000.00 1,222,104.00 1.42 1,269,739.56 1.46 2.46 Issuer total 1,300,000.00 1,222,104.00 1.42 1,269,739.56 1.46 2.46 Welltower OP LLC
95040QAH7 WELL TOWER OP LLC 4.125 03/15/2029 12/15/2028 A- A3 1,250,000.00 1,246,837.50 1.45 1,235,194.13 1.42 2.41 Issuer total 1,250,000.00 1,246,837.50 1.45 1,235,194.13 1.42 2.41 Federal National Mortgage Association
3135GAVS7 FANNIEMAE3.91% 3.910 10/02/2028 10/02/2026 AA+ Aa1 1,200,000.00 1,199,400.00 1.40 1 , 192,439.27 1.37 1.42 Issuer total 1,200,000.00 1,199,400.00 1.40 1,192,439 .27 1.37 1.42 Toyota Motor Credit Corp
89236TKQ7 TOY OT A MOTOR CREDIT 4.625 01/12/2028 A+ A1 1,100,000.00 1,091 ,585.00 1.27 1,105,285.07 1.27 1.44 Issuer total 1,100,000.00 1,091,585.00 1.27 1,105 ,285.07 1.27 1.44 18 23 of35
August 18, 2026, Item #5
GASB 40 - DEPOSIT AND INVESTMENT RISK DISCLOSURE
CITY OF POWAY
N
.I:,,
As of June 30, 2026 0 ....
w
VI Cusip Description Coupon Maturity Call date S&P Moody Par value or Historical % Portfolio Market % Portfolio Effective date rating rating shares cost hist cost value mktvalue dur (yrs) American Honda Finance Corp
02665WBH3 AMERICAN HONDA 2.300 09/09/2026 BBB+ A3 1,100,000.00 1,034,869.00 1.21 1,095,943.30 1.26 0.19 Issuer total 1, 100,000.00 1,034,869.00 1.21 1,095,943.30 1.26 0.19 Tennessee Valley Authority
880591FE7 TENN VALLEY AUTHORITY 3.875 08/01/2030 AA+ Aa1 1,000,000.00 1,001,180.00 1.17 987,609.88 1.13 3.68 Issuer total 1,000,000.00 1,001,180.00 1.17 987,609.88 1.13 3.68 Cash and Cash Equivalents
CASH 0.000 339,745.11 339,745.11 0.00 339,745.11 0.39 0.00 Issuer total 339,745.11 339,745.11 0.00 339,745.11 0.39 0.00 19 24 of 35
August 18, 2026, Item #5
SECURITIES PURCHASED
CITY OF POWAY
N u,
For the period June 1, 2026 - June 30, 2026 0 ....
w u, Cusip Description I Broker Trade date Coupon Maturity/ Par value or Unit cost Principal Accrued Settle date Call date shares cost interest
Government Agencies
3134HBT43 FREDDIE MAC 4.125 % 26SEP2028 06/01/2026 4.125 09/26/2028 1,500 ,000 .00 99.74 (1 ,496, 100.00) (11 ,343 .75) MERRILL LYNCH, PIERCE, 06/02/2026 09/26/2026
Total Government Agencies 1,500,000.00 (1,496, 100.00) (11,343.75) Government Bonds
91282CJM4 USA TREASURY 4.375% 30NOV2030 06/12/2026 4.375 11/30/2030 1,500,000 .00 100.73 (1,510 ,962 .06) (2,689 .55) THE BANK OF NEW YORK MELLON 06/15/2026
- ---Total Government Bonds 1,500,000.00 (1,510,962.06) (2,689.55) •IIL~
-
20 25 of 35
August 18, 2026, Item #5
SECURITIES SOLD AND MATURED
CITY OF POWAY
N
CJ\
For the period June 1, 2026 - June 30, 2026 0 ....
w u, Cusip Description/ Broker Trade date Coupon Maturity/ Par value or Historical cost Amortized cost Price Fair value at Realized Accrued Settle date Call date shares at sale or sale or gain interest maturity maturity (loss) sold
Government Agencies
3130AWLZ1 FEDERAL HOME LN BK DISC NT 06/1 2/2026 4.750 (1,100,000.00) 1,096,612.00 1,100,000.00 0.00 1,100,000.00 0.00 0.00 06-12-2026 06/12/2026
~
Total (Government Agencies) (1, 100,000.00) 1,096,612.00 1,100,000.00 1, 100,000.00 0.00 0.00 -
Government Bonds
91282CKS9 UNITED STATES TREAS 4.875% 06/01/2026 4.875 (1,400,000.00) 1,410,340.63 1,400,000.00 0.00 1,400,000.00 0.00 0.00 05-31-2026 06/01/2026
--Jotal (Government Bonds) (1,400,000 .00) 1,410,340.63 1,400,000.00 1,400,000 .00 0.00 0.00 21 26 of35
August 18, 2026, Item #5
DETAIL OF RETURN AND INTEREST RECEIVED
CITY OF POWAY
N ..... For the period June 1, 2026 - June 30, 2026 0 .... w
U1 Cusip Description Accretion Realized gain Change in fair Interest earned Interest received (amortization) (loss) value
Cash
Cash and Cash Equivalents 0.00 0.00 0.00 1,023.69 1,023.69 -Total Cash 0.00 0.00 0.00 1,023.69 1,023 .69
-
Corporate Bonds
02665WBH3 AMERICAN HONDA FINANCE 2.3% 09SEP2026 1,629.34 0.00 1,581.20 2,038.05 0.00 037833DB3 APPLE INC 2.9% 12SEP2027 (CALLABLE 12JUN27) 1,169.70 0.00 (781.51) 3,036.94 0.00 06051GMY2 BANK OF AMERICA CORP 4.477% 23APR2030 (CALLABLE 23APR29) (198.03) 0.00 (3,744.54) 7,212.95 0.00 17275RBQ4 CISCO SYSTEMS INC 4.8% 26FEB2027 (CALLABLE 26JAN27) (82.71) 0.00 (2,013.32) 4,833.34 0.00 17275RBR2 CISCO SYSTEMS INC 4.85% 26FEB2029 (CALLABLE 26JAN29) 0.00 0.00 (4,614.36) 3,906.95 0.00 17325FBC1 CITIBANK NA 5.488% 04DEC2026 (CALLABLE 04NOV26) (690.40) 0.00 (2,878.68) 6,189.25 38,416.00 17325FBB3 ClTIBANK NA 5.803% 29SEP2028 (CALLABLE 29AUG28) (466.37) 0.00 (4,951.34) 4,674.63 0.00 194162AR4 COLGATE-PALMOLIVE CO 4.6% 01 MAR2028 (CALLABLE 01 FEB28) 162.47 0.00 (7,267.01) 8,893.33 0.00 24422EWK1 JOHN DEERE CAPITAL CORP 4. 15% 15SEP2027 142.82 0.00 (2,464.52) 3,343.06 0.00 24422EXH7 JOHN DEERE CAPITAL CORP 4.5% 16JAN2029 (492.13) 0.00 (4,466.56) 4,350.00 0.00 46625HRY8 JPMORGAN CHASE & CO 3. 782% 01 FEB2028 (CALLABLE 01 FEB27) 1,817.33 0.00 (711.32) 6,093.23 0.00 717081ET6 PFIZER INC 3.45% 15MAR2029 (CALLABLE 15DEC28) 1,270.27 0.00 (2,602.94) 3,612.92 0.00 89236TKQ7 TOYOTA MOTOR CREDIT CORP 4.625% 12JAN2028 178.72 0.00 (3,239.96) 4,098.27 0.00 91159HHN3 US BANCORP 2.375% 22JUL2026 (CALLABLE 25JUN26) 1,957.74 0.00 1,133.74 1,913.19 0.00 91159HJF8 US BANCORP 4.548% 22JUL2028 (CALLABLE 22JUL27) 199.40 0.00 (1,347.36) 3,297.30 0.00 95040QAH7 WELL TOWER OP LLC 4.125% 15MAR2029 (CALLABLE 15DEC28) 67.55 0.00 (5,027.01) 4,153.64 0.00 - -
-Total Corporate Bonds 6,665.70 0.00 (43,395.49) 71,647.05 38,416.00 22 27 of35
August 18, 2026, Item #5
DETAIL OF RETURN AND INTEREST RECEIVED
CITY OF POWAY
N
00 For the period June 1, 2026 - June 30, 2026 0 ....
w
U1 Cusip Description Accretion Realized gain Change in fair Interest earned Interest received (amortization) (loss) value
Government Agencies
31358DDR2 FANNIE MAE 0% 15MAY2030 5,355.32 0.00 (1,615.40) 0.00 0.00 3135GAVS7 FANNIE MAE 3.91 % 020CT2028 (CALLABLE 020CT26) 0.00 0.00 (1,958.81) 3,779.66 0.00 3133EMM41 FEDERAL FARM CREDIT BANK 1.85% 28MAR2030 (CALLABLE 26JUN26) 3,270.64 0.00 (8,167.17) 3,725.69 0.00 3133EN5N6 FEDERAL FARM CREDIT BANK 4% 06JAN2028 (63.74) 0.00 (2,609.11) 3,544.45 0.00 3133EPCG8 FEDERAL FARM CREDIT BANK 4. 125% 01 DEC2027 152.03 0.00 (2,423.11) 3,322.92 20,625.00 3133EP5U5 FEDERAL FARM CREDIT BANK 4.125% 20MAR2029 221.60 0.00 (6,144.62) 6,645.84 0.00 3133ETW29 FEDERAL FARM CREDIT BANK 4.17% 19AUG2030 (CALLABLE 23JUN26) 0.00 0.00 (2,398.56) 4,031.00 0.00 3133EPK79 FEDERAL FARM CREDIT BANK 4.375% 07DEC2026 42.04 0.00 (1,586.46) 4,229.17 26,250.00 3133ER5D9 FEDERAL FARM CREDIT BANK 4.49% 05MAR2029 (CALLABLE 05MAR27) (525.34) 0.00 (4,342.87) 6,872.20 0.00 3133EPUW3 FEDERAL FARM CREDIT BANK 4.75% 01 SEP2026 411 .08 0.00 (2,313.98) 7,652.78 0.00 3130AWLZ1 FEDERAL HOME LN BK DISC NT 06-12-2026 37.48 0.00 (54.99) 1,596.53 26,125.00 3130AQF65 FEDERAL HOME LOAN BANK 1.25% 21 DEC2026 5,132.28 0.00 2,424.75 2,315.97 14,375.00 3130APJH9 FEDERAL HOME LOAN BANK 2.5% 280CT2026 (CALLABLE 28JUL26) #0006 4,290.70 0.00 1,960.36 4,128.47 0.00 3130AEB25 FEDERAL HOME LOAN BANK 3.25% 09JUN2028 2,527.43 0.00 (7,744.71) 7,068.75 43,875.00 3130ATHWO FEDERAL HOME LOAN BANK 4.125% 1 OSEP2027 119.10 0.00 (4,458.74) 6,645.83 0.00 3130ATUS4 FEDERAL HOME LOAN BANK 4.25% 1 ODEC2027 (209.77) 0.00 (6,246.40) 6,847.22 42,500.00 3130ATUT2 FEDERAL HOME LOAN BANK 4.5% 14DEC2029 (179.54) 0.00 (4,106.38) 4,350.00 27,000.00 3134HCQK8 FREDDIE MAC 4.125% 21 JAN2031 (CALLABLE 210CT26) (86.76) 0.00 (2,703.40) 4,153.65 0.00 3134HBT43 FREDDIE MAC 4.125% 26SEP2028 (CALLABLE 26SEP26) 120.52 0.00 (2,584.63) 4,812.50 0.00 3134HBSXO FREDDIE MAC 4.5% 23MAY2030 (CALLABLE 23NOV26) (478.95) 0.00 (2,150.40) 3,625.00 0.00 3134HAW33 FREDDIE MAC 4. 75% 18DEC2029 (CALLABLE 18SEP26) (217.60) 0.00 (920.42) 3,826.39 23,750.00 --- ---
23 28 of 35
August 18, 2026, Item #5
DETAIL OF RETURN AND INTEREST RECEIVED
CITY OF POWAY
N
\0
For the period June 1, 2026 - June 30, 2026 0 ....
w u, Cusip Description Accretion Realized gain Change in fair Interest earned Interest received (amortization) (loss) value
Government Agencies
880591FE7 TENN VALLEY AUTHORITY 3.875% 01AUG2030 (4.96) 0.00 306.58 3,121.52 0.00 Total Government Agencies 19,913.56 0.00 (59,838.47) 96,295.54 224,500.00 - -
Government Bonds
91282CKS9 UNITED STATES TREAS 4.875% 05-31-2026 0.00 0.00 0.00 0.00 34,125.00 912828ZQ6 USA TREASURY 0.625% 15MAY2030 1,855.18 0.00 (307.62) 445.82 0.00 91282CCH2 USA TREASURY 1.25% 30JUN2028 3,887.23 0.00 (1,062.50) 1,761.05 10,625.00 91282CDQ1 USA TREASURY 1.25% 31 DEC2026 5,549.84 0.00 2,998.08 2,434.39 14,687.50 912828YU8 USA TREASURY 1.625% 30NOV2026 3,688.99 0.00 2,113.44 2,131.15 13,000.00 9128283F5 USA TREASURY 2.25% 15NOV2027 1,181.11 0.00 (1,246.10) 2,017.66 0.00 91282CEF4 USA TREASURY 2.5% 31 MAR2027 1,847.33 0.00 (312.50) 2,049.18 0.00 91282CET4 USA TREASURY 2.625% 31 MAY2027 2,471.46 0.00 (1,484.36) 4,303.28 26,250.00 91282CFB2 USA TREASURY 2.75% 31JUL2027 2,948.16 0.00 (2,250.00) 4,102.21 0.00 9128285M8 USA TREASURY 3.125% 15NOV2028 2,447.98 0.00 (4,812.50) 5,604.62 0.00 91282CFJ5 USA TREASURY 3.1 25% 31 AUG2029 401.45 0.00 (2,578.13) 3,057.07 0.00 91282CEW7 USA TREASURY 3.25% 30JUN2027 948.59 0.00 (1,063.76) 1,993.09 12,025.00 91282CLK5 USA TREASURY 3.625% 31 AUG2029 57.69 0.00 (2,812.48) 3,546.20 0.00 91282CHE4 USA TREASURY 3.625% 31 MA Y2028 428.37 0.00 (5,167.97) 6,239.75 38,062.50 91282CHJ3 USA TREASURY 3. 75% 30JUN2030 (191.88) 0.00 (5,234.38) 6,215.47 37,500.00 91282CMU2 USA TREASURY 4% 31 MAR2030 (191.00) 0.00 (5,058.60) 5,737.70 0.00 91282CFT3 USA TREASURY 4% 310CT2029 (306.22) 0.00 (4,625.00) 5,217.40 0.00 91282CHW4 USA TREASURY 4. 125% 31 AUG2030 (348.96) 0.00 (3,320.31) 4,203.46 0.00 -- --- -·- ~--- ~~~ --- - .
24 29 of35
August 18, 2026, Item #5
w
0 0 ...,
w
U'I
DETAIL OF RETURN AND INTEREST RECEIVED
For the period June 1, 2026 - June 30, 2026
Cusip Description
Government Bonds
91282CFUO
91282CKX8
91282CMG3
91282CJM4
USA TREASURY 4.125% 31 OCT2027
USA TREASURY 4.25% 30JUN2029
USA TREASURY 4.25% 31JAN2030
USA TREASURY 4.375% 30NOV2030
Total Government Bonds
30 of 35
Accretion
(amortization)
405.11
(68.27)
(536.14)
(135.98)
---26,340.04
~
-- --------
Realized gain
(loss)
0.00 0.00
0.00 0.00
0.00 (ililil
Change in fair
value
(5,660.17)
(3,656.26)
(4,750.00)
(825.34)
(51,116.46)
~
CITY OF POWAY
Interest earned Interest received
7,061.82 0.00
4,226.52 25,500.00
5,635.36 0.00
2,689.55 0.00
- - 80,672.75 211,775.00
- ----~ - -
25 August 18, 2026, Item #5
TRANSACTION REPORT
CITY OF POWAY
w ..... For the period June 1, 2026 - June 30, 2026 0 .... w
U1 Trade date Cusip Transaction Sec type Description Maturity Par value or Realized Principal Interest Transaction total Settle date shares gain(loss)
05/31/2026 912828YU8 Income Government Bonds USA TREASURY 1.625% 11/30/2026 1,600,000.00 0.00 0.00 13,000.00 13,000.00 05/31/2026
05/31/2026 91282CET4 Income Government Bonds USA TREASURY 2.625% 05/31/2027 2,000,000.00 0.00 0.00 26,250.00 26,250.00 05/31/2026
05/31/2026 91282CHE4 Income Government Bonds
USA TREASURY 3.625% 05/31/2028 2,100,000 .00 0.00 0.00 38,062.50 38,062 .50 05/31/2026
05/31/2026 91282CKS9 Income Government Bonds
UNITED STATES TREAS 4.875% 05/31/2026 1,400,000.00 0.00 0.00 34,125.00 34,125.00 05/31/2026
06/01/2026 3133EPCG8 Income Government Agencies FEDERAL FARM CREDIT BANK 12/01/2027 1,000,000.00 0.00 0.00 20,625.00 20,625.00 06/01/2026
06/01/2026 3134HBT43 Bought Government Agencies
FREDDIE MAC 4.125% 09/26/2028 1,500,000.00 0.00 (1,496,100.00) (11,343.75) (1,507,443.75) 06/02/2026
06/01/2026 91282CKS9 Capital Change Government Bonds UNITED STA TES TREAS 4.875% 05/31/2026 (1,400,000 .00) 0.00 1,400,000 .00 0.00 1,400,000 .00 06/01/2026
06/04/2026 17325FBC1 Income Corporate Bonds CITIBANK NA 5.488% 12/04/2026 1,400,000.00 0.00 0.00 38,416.00 38,416 .00 06/04/2026
06/07/2026 3133EPK79 Income Government Agencies
FEDERAL FARM CREDIT BANK 12/07/2026 1,200,000 .00 0.00 0.00 26,250.00 26,250.00 06/07/2026
06/09/2026 3130AEB25 Income Government Agencies
FEDERAL HOME LOAN BANK 06/09/2028 2,700,000 .00 0.00 0.00 43,875.00 43,875.00 06/09/2026
06/10/2026 3130ATUS4 Income Government Agencies
FEDERAL HOME LOAN BANK 12/10/2027 2,000,000.00 0.00 0.00 42,500.00 42,500.00 06/10/2026
06/12/2026 3130AWLZ1 Income Government Agencies
FEDERAL HOME LN BK DISC NT 06/12/2026 1,100,000.00 0.00 0.00 26,125.00 26,125 .00 06/12/2026
06/12/2026 3130AWLZ1 Capital Change Government Agencies FEDERAL HOME LN BK DISC NT 06/12/2026 (1 ,100,000.00) 0.00 1,100,000 .00 0.00 1,100,000 .00 06/12/2026
06/12/2026 91282CJM4 Bought Government Bonds USA TREASURY 4.375% 11/30/2030 1,500,000 .00 0.00 (1,510,962.06) (2,689.55) (1,513,651.61) 06/15/2026
06/14/2026 3130ATUT2 Income Government Agencies FEDERAL HOME LOAN BANK 12/14/2029 1,200,000.00 0.00 0.00 27,000 .00 27,000.00 06/14/2026
06/18/2026 3134HAW33 Income Government Agencies FREDDIE MAC 4.75% 12/18/2029 1,000,000.00 0.00 0.00 23,750.00 23,750.00 06/18/2026
06/21/2026 3130AQF65 Income Government Agencies FEDERAL HOME LOAN BANK 12/21/2026 2,300,000.00 0.00 0.00 14,375.00 14,375 .00 06/21/2026
26 31 of 35
August 18, 2026, Item #5
TRANSACTION REPORT
CITY OF POWAY
w N
For the period June 1, 2026 - June 30, 2026 0 ....
w u, Trade date Cusip Transaction Sec type Description Maturity Par value or Realized Principal Interest Transaction total Settle date shares gain(loss)
06/30/2026 91282CCH2 Income Government Bonds USA TREASURY 1.25% 06/30/2028 1,700,000 .00 0.00 0.00 10,625.00 10,625.00 06/30/2026
06/30/2026 91282CDQ1 Income Government Bonds USA TREASURY 1.25% 12/31/2026 2,350,000 .00 0.00 0.00 14,687.50 14,687.50 06/30/2026
06/30/2026 91282CEW7 Income Government Bonds USA TREASURY 3.25% 06/30/2027 740,000.00 0.00 0.00 12,025.00 12,025.00 06/30/2026
06/30/2026 91282CHJ3 Income Government Bonds
USA TREASURY 3.75% 06/30/2030 2,000,000. 00 0.00 0.00 37,500.00 37,500 .00 06/30/2026
06/30/ 2026 91282CKX8 Income Government Bonds
USA TREASURY 4.25% 06/30/2029 1,200,000 .00 0.00 0.00 25,500 .00 25,500.00 06/30/2026
06/30/2026 Income Cash and Cash Equivalents Cash 0.00 0.00 0.00 1,023.69 1,023.69 27 32 of35
August 18, 2026, Item #5
ADDITIONAL INFORMATION
CITY OF POWAY
w
~ As of June 30, 2026 ....
~ Past performance is not indicative offuture results. Investment in any strategy involves a risk of loss which may partly be due to exchange rate fluctuations.
The performance results shown, whether net or gross of investment management fees, reflect the reinvestment of dividends and/or income and other earnings. Any gross of fees performance does not include fees and charges and these can have a material detrimental effect on the performance of an investment. The performance shown is for the stated time period{s) only.
Any target performance aims are not a guarantee, may not be achieved and a capital loss may occur. Funds which have a higher performance aim generally take more risk to achieve this and so have a greater potential for the returns to be significantly different than expected. Investments are subject to risks, including loss of principal. There can be no guarantee that any investment strategy will meet the liability funding needs of a particular client.
Performance information for certain accounts may reflect performance achieved while the account was managed at a prior firm. In addition, the performance and customized benchmark information for these periods are based on Information from 3rd parties that Insight believes to be accurate, but Insight has not independently verified such information and no representation is made regarding its accuracy or completeness.
The quoted benchmarks do not reflect deductions for fees, expenses or taxes. These benchmarks are unmanaged and cannot be purchased directly by investors. Benchmark performance is shown for illustrative purposes only and does not predict or depict the performance of any investment. There may be material factors relevant to any such comparison such as differences in volatility, and regulatory and legal restrictions between the indices shown and the strategy.
Any currency conversions performed for this presentation, use FX rates as per WM Reuters 4pm spot rates, unless noted otherwise.
Funds and portfolios with an ESG objective follow a sustainable or ESG related investment approach, which may cause them to perform differently than funds that are not required to integrate sustainable investment criteria when selecting securities. Funds and portfolios with no ESG objective are not required to integrate sustainable investment criteria when selecting securities so any ESG approach shown is only indicative and there is no guarantee that the specific approach will be applied across the whole portfolio.
This is a client report intended for professional clients only. This material is for professional clients only and is not intended for distribution to retail clients. This document must not be used for the purpose of an offer or solicitation in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or otherwise not permitted. This document is intended only for the parties to whom it was delivered or its authorised agents and should not be copied or passed to any other person. Please contact the Client Services Team if there has been any change in your financial circumstances or risk tolerance since the previous valuation that could affect the investment objective of your portfolio. Insight obtains market data and prices from an independent pricing source for all of our currency positions on a daily basis. For trading activity the Clearing broker will be reflected. In certain cases the Clearing broker will differ from the Executing broker.
Some information contained in this client report comes from external sources which Insight believes to be reliable. A list of sources is available on request. All statistics represent month end figures unless otherwise noted. It should not be assumed that any of the security transactions or holdings referenced herein have been or will prove to be profitable or that future investment decisions will be profitable or will equal or exceed the past investment performance of the securities listed. Tax treatment depends on the individual circumstances of each investor and may be subject to change in the future. Insight does not provide tax or legal advice to its clients and all investors are strongly urged to seek professional advice regarding any potential strategy or investment. Material in this publication is for general information only and is not advice, investment advice, or the recommendation of any purchase or sale of any security.
Insight Investment is the corporate brand for certain companies operated by Insight Investment Management Limited {IIML). Insight includes, among others, Insight Investment Management {Global) Limited {IIMG), Insight Investment International Limited {IIIL) and Insight North America LLC {INA), each of which provides asset management services. This group of companies may be referred to as 'Insight' or 'Insight Investment'.
Please compare the information provided in this statement to the information provided in the statement received from your Custodian. This report is not intended to replace your custodial statement which is your official record for all pertinent account information. Please notify us promptly if you do not receive from your custodian on at least a quarterly basis account statements that contain the amount of funds and each security in the account at the end of the period and all transactions in the account during that period.
For clients based in North America:
This material is for professional clients only and is not intended for distribution to retail clients.
Investment advisory services in North America are provided through two different investment advisers registered with the Securities and Exchange Commission {SEC), using the brand Insight Investment: Insight North America LLC {INA) and Insight Investment International Limited {IIIL). The North American investment advisers are associated with other global investment managers that also {individually and collectively) use the corporate brand Insight Investment and may be referred to as 'Insight' or 'Insight Investment'. INA is registered with the CFTC as a Commodity Trading Advisor and a Commodity Pool Operator and are members of the NFA.
Information about the indices shown here is provided to allow for comparison of the performance of the strategy to that of certain well-known and widely recognized indices. There is no representation that such index is an appropriate benchmark for such comparison . You cannot invest directly in an index and the indices represented do not take into account trading commissions and/or other brokerage or custodial costs. The volatility of the indices may be materially different from that of the strategy. In addition, the strategy's holdings may differ substantially from the securities that comprise the indices shown.
The ICE BofA 3 Month UST-Bill index is an unmanaged market index of U.S. Treasury securities maturing in 90 days that assumes reinvestment of all income.
The ICE BofA 6 Month UST-Bill index measures the performance of Treasury bills with time to maturity of less than 6 months. 33 of 35
28 August 18, 2026, Item #5
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ADDITIONAL INFORMATION
As of June 30, 2026
CITY OF POWAY
The ICE BofA 1-Year US Treasury Index is a one-security index comprised of the most recently issued 1-year US Treasury note. The index is rebalanced monthly. In order to qualify for inclusion, a 1-year note must be auctioned on or before the third business day before the last business day of the month.
The ICE BofA 3-Year US Treasury Index is a one-security index comprised of the most recently issued 3-year US Treasury note. The index is rebalanced monthly. In order to qualify for inclusion, a 3-year note must be auctioned on or before the third business day before the last business day of the month.
The ICE BofA 5-Year US Treasury Index is a one-security index comprised of the most recently issued 5-year US Treasury note. The index is rebalanced monthly. In order to qualify for inclusion, a 5-year note must be auctioned on or before the third business day before the last business day of the month.
The ICE BofA 1-3 US Year Treasury Index is an unmanaged index that tracks the performance of the direct sovereign debt of the U.S. Government having a maturity of at least one year and less than three years.
The ICE BofA 1-5 US Year Treasury Index is an unmanaged index that tracks the performance of the direct sovereign debt of the U.S. Government having a maturity of at least one year and less than five years. © 2026 Insight Investment. All rights reserved.
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29 August 18, 2026, Item #5
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June 2026
Cash with Fiscal Agents
Investment Type Settlement Date Book Value Market Value Unrealized Trustee Description Gain (Loss)
US Bank 2005 Refunding Certificates of Participation Money Market 6/30/2026 30.08 30.08 Successor Agency to the Poway
US Bank Redevelopment Agency 2015A T ARB and Money Market 6/30/2026 19,509.44 19,509.44 20158 TARB
US Bank Pension Obligation Bonds Series 2021 Money Market 6/30/2026 1,047.32 1,047.32 US Bank Public Financing Authority Water Revenue Money Market 6/30/2026 2,196.71 2,196.71 Bonds 2021A > -I Total Cash with Fiscal Agents 22,783.55 22,783.55 -I > n
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s: No n-Managed Investments m
z Investment Type Settlement Date Book Value Market Value Unrealized -I Treasurer Description Gain (Loss) C
County of San 800MHz Zone F Funds Local Agency 6/30/2026 8,246.22 8,209.00 (37.22) Diego Investment Pool Total Non-Managed Investments 8,246.22 8,209.00 (37.22) Bank Accounts and Petty Cash
Custodians Description Cash Type Settlement Date Book Value Market Value Unrealized Gain (Loss)
US Bank Bank Accounts Demand Deposits 6/30/2026 951,939.44 951,939.44 City of Poway Petty Cash Accounts Cash on Hand 6/30/2026 8,600.00 8,600.00 Total Cash 960,539.44 960,539.44
Total 991,569.21 991,531.99