City of San Bernardino
SHUSTER
ADVISORY GROUP Portfolio Summary
As of Date: 2/28/2026
Account # x2662 & x6176
Bond Portfolio Characteristics Total Account Summary Bond Maturity Distribution Average Credit Quality End Values as of End Values as of AA 01/31/2026 02/28/2026
Market Value $321,164,944.14 $322,542,640.22 26.86%
Average Coupon 2.92%
Monthly $615,652.03
Interest Earned $1,420, 786.26 22.32%
Average Market YTM 3.80% FYTD
Interest Earned $7,238,154.90 $7,853,806.93 16.37%
13.24% 13.96%
Par $321,551,121.69 $322,893,730.81
Average Effective Duration 1.84
Cost Value $321,623,336.81 $322,353,540.25 7.24%
Weighted Average Life 2.26
Book Value $321,595,896.80 $322,320,676.46
0-5 5-1 1-2 2-3 3-4 4+
Total Investment Allocation Bond Sector Breakout Bond Credit Quality (Highest NRO Rating) 2%
Treasury 37.96% Sector Ag YTM Avg Eff Dur 22%
Corporate 20.85% 3.53 1.64
Treasury
Agency 1 16.75%
Corporate 4.13 2.54
Money Market 15.21%
Agency 3.98 1.31
LAIF I 7.00%
Supranational 3.69 1.92
Supranational | 0.94%
Muni 1 0.57% Muni 3.65 4.28
76%
Cash 1 0.57% Money Market 3.56 0.00
CD 1 0.15% LAIF 3.85 0.00 HAA •AAA
"I certify that this report accurately reflects all pooled investments and is in conformity with the Investment Policy Statement approved by the Mayor and City Council."
TARIK RAHMANI, DIRECTOR OF FINANCE & MGMT SERVICES
1 SHUSTER City of San Bernardino
53601 Cash Portfolio
ADVISORY GROUP
As of Date: 2/28/2026
Account # x2662 & x6176
Moody's/
Symbol/CUSIP: Security Name 58P/Fitch Maturity/ Weighted Daysto Vield to Adjusted Par Value Coupon Rate Purchase Date Market Value
Called Date Average Life Maturity Maturity" Cost Basis
Rating?
CASH
Cash 29,013,794.78 N/A N/A $ 29,013,794.78 $ 29,013,794.78 Money Market 49,307,393.05 0.003 3.56% $ 49,307,393.05 $ 49,307,393.05 en es en es
LAIF 22,697,542.98 0.71 3.85% $ $
22,697,542.98 22,697,542.98
101,018,730.81 $ 101,018,730.81 $ 101,018,730.81
CDs
90348JT59 UBS BANK USA UT 0.95% CD 09/22/2026 250,000.00 0.950% N/R 9/14/2021 9/22/2026 206 N/R $ 250,000.00 $ 246,202.00 es es
856285XLO STATE BANK OF INDIA NY 1.15% CD 09/28/2026 250,000.00 1.150% N/R 9/14/2021 9/28/2026 212 N/R 250,000.00 $ 246,364.25
500,000.00 500,000.00 492,566.25
US Treasury
912797TA5 US TREASURY BILL 03/24/2026 en es 10,000000.00 0.000% Aa1 2/26/2026 3/24/2026 0.06 24 3.68%$ 9,974,910.00 $ 9,977,938.00 912797TH0 US TREASURY BILL 04/14/2026 10,000,000.00 0.000% Aa1 2/19/2026 4/14/2026 0.11 45 3.70% $ 9,951,281.63 $ 9,956,701.00 91282CCF6 US TREASURY 0.75% 05/31/2026 2,500,000.00 0.750% Aa1 10/14/2025 5/31/2026 0.25 92 3.61% $ 2,458,305.08 $ 2,481,738.25 и us
9128282A7 US TREASURY 1.5% 08/15/2026 2,500,000.00 1.500% Aa1 10/6/2025 8/15/2026 0.46 168 3.63% $ 2,453,769.77 $ 2,475,292.75 91282CLH2 US TREASURY 3.75% 08/31/2026 2,500,000.00 3.750% Aa1 11/14/2025 8/31/2026 0.50 184 3.69% 2,500,202.31 2,500.585.75 91282CEF4 US TREASURY 2.5% 03/31/2027 2,500,000.00 2.500% Aa 1 11/14/2025 3/31/2027 1.08 396 3.50% S 2,461,928.26 2,473,437.50 91282CMV0 US TREASURY 3.875% 03/31/2027 1,500,000.00 3.875% Aa1 10/23/2025 3/31/2027 1.08 396 3.51% 1,507,278.52 1,505,742.15 91282CNV9 US TREASURY 3.625% 08/31/2027 4,000,000.00 3.625% Aa1 10/6/2025 8/31/2027 1.50 549 3.44% $ 4,002,668.53 4,010,624.80 91282CPB1 US TREASURY 3.5% 09/30/2027 $,000,000.00 3.500% Aa1 10/10/2025 9/30/2027 1.59 579 3.43% .$ 4,997,089.19 5,005,273.00 91282CPE5 US TREASURY 3.5% 10/31/2027 7,500,000.00 3.500% Aa1 11/5/2025 10/31/2027 1.67 610 3.43% 7,486,614.63 7.508,788.50 91282CPL9 US TREASURY 3.375% 11/30/2027 2,500,000.00 3.375% Aa1 12/4/2025 11/30/2027 1.75 640 3.41% 2.493.275.93 2,498,535.00 91282CPS4 US TREASURY 3.375% 12/31/2027 4,000,000.00 3.375% Aa1 1/22/2026 12/31/2027 1.84 671 3.40% 3,985,241.75 3,997,968.40 91282CGH8 US TREASURY 3.5% 01/31/2028 2,500,000.00 3.500% Aa1 2/26/2026 1/31/2028 1.92 702 3.39% 2,502,064.98 2,504,882.75 91282CNU1 US TREASURY 3.625% 08/15/2028 5,000,000.00 3.625% Aa1 10/10/2025 8/15/2028 2.46 899 3.38% $ 5,007,471.99 $ 5,028,710.50 91282CNY3 US TREASURY 3.375% 09/15/2028 7,500,000.00 3.375% Aa1 10/6/2025 9/15/2028 2.54 930 3.39% $ 7,459,387.98 $ 7,497,363.00 91282CPC9 US TREASURY 3.5% 10/15/2028 2,500,000.00 3.500% Aa1 10/23/2025 10/15/2028 2.62 960 3.39% $ 2,501,479.04 $ 2,506,738.25 91282CPK1 US TREASURY 3.5% 11/15/2028 3,500,000.00 3.500% Aa1 11/28/2025 11/15/2028 2.71 991 3.39% $ 3,494,771.51 $ 3,509,843.75 912828681 US TREASU NT 2,500,000.00 2.625% Aa1 11/21/2025 2/15/2029 2.97 1083 3.39% $ 2,432,338.42 $ 2,445,703.00 91282CKD2 US TREASURY 4.25% 02/28/2029 1,500,000.00 4.250% Aa1 1/2/2026 2/28/2029 3.00 1096 3.40% $ 1,528,833.20 1,536,093.75 91282CEV9 US TREASURY 3.25% 06/30/2029 1,500,000.00 3.250% Aa1 10/23/2025 6/30/2029 3.33 1218 3.42% $ 1,485,539.86 1,492,031.25 91282CNX5 US TREASURY 3.625% 08/31/2030 2,500,000.00 3.625% Aa1 10/6/2025 8/31/2030 4.50 1645 3.50% $ 2,486,635.29 2,513,085.75 91282CPA3 US TREASURY 3.625% 09/30/2030 4,500,000.00 3.625% Aa1 10/23/2025 9/30/2030 4.59 1675 3.50% $ 4,494,529.74 $ 4,523,554.35 91282CPD7 US TREASURY 3.625% 10/31/2030 8,500,000.00 3.625% Aa1 11/5/2025 10/31/2030 4.67 1706 3.51% $ 8,467,417.09 $ 8,542,500.00 91282CJM4 US TREASURY 4.375% 11/30/2030 1,000,000.00 4.375% Aa1 1/2/2026 11/30/2030 4.75 1736 3.52% S 1,028,722.68 $ 1,037,109.30 91282CPR6 US TREASURY 3.625% 12/31/2030 1,500,000.00 3.625% Aa1 1/22/2026 12/31/2030 4.84 1767 3.52% $ 1,484,250.80 $ 1,507,031.25 91282CPW5 US TREASURY 3.75% 01/31/2031 2,500,000.00 3.750% Aa1 2/26/2026 1/31/2031 4.92 1798 3.52% $ 2,517,592.33 $ 2,525,781.25 $ 101,500,000.00 $ 101,163,600.50 $ 101,563,053.25
Agency Securities*
3130ALV68 FHLB 1.03% 03/30/2026 CALLABLE $ 1,000,000.00 1.030% Aa1 3/29/2021 3/30/2026 0.09 30 3.33% $ 1,000,000.00 $ 997,947.00 3130AMUD2 FHLB 0.85% 03/30/2026 CALLABLE 1,000,000.00 0.850% Aa1 7/12/2021 3/30/2026 0.09 30 3.30% $ 1,000,000.00 997,816.00 3133EMB76 FFCB 0.95% 05/26/2026 CALLABLE 1,000,000.00 0.950% Aa1 5/21/2021 5/26/2026 0.24 87 3.71% $ 999,000.00 $ 993,432.00 3133ENGC8 FFCB 1.32% 06/01/2026 1,000,000.00 1.320% Aa1 11/24/2021 6/1/2026 0.25 93 3.61% $ 1,000,000.00 $ 994,319.00 3133EMH21 es es es es es es 2.000,000.00
FFCB 0.9% 06/15/2026 CALLABLE 0.900% Aa1 11/3/2021 6/15/2026 0.29 107 3.69% $ 1,974,490.00 1,983,860.00 3133ENHV5 FFCB 1.39% 06/22/2026 CALLABLE 1,000,000.00 1.390% Aal 12/14/2021 6/22/2026 0.31 114 3.81% $ 1,000,000.00 $ 992,878.00 3130ANKG4 FHLB 1% 08/27/2026 CALLABLE 1,000,000.00 1.000% Aa1 8/5/2021 8/27/2026 0.49 180 3.76% $ 1,000,000.00 $ 986,963.00 3133EM3T7 FFCB 0.87% 09/01/2026 CALLABLE 1,000,000.00 0.870% Aa1 8/26/2021 9/1/2026 0.51 185 3.81% $ 998,500.00 $ 985,965.00 2 SHUSTER City of San Bernardino
53601 Cash Portfolio
ADVISORY GROUP
As of Date: 2/28/2026
Account # x2662 & x6176
Moody s/
Symbol/CUSIP Security Name 58P/Fitch Maturity/ Weigbted Days to Vield. to Adjusted Par Value Coupon Rate Purchase Date Market Value
Rating" Called Date Average Life Maturity Maturity? Cost Basis 3130APCH6 FHLB 1.125% 09/29/2026 CALLABLE 1,000,000.00 1.125% Aa1 9/28/2021 9/29/2026 0.58 213 3.75% $ 1,000,000.00 $ 985,466.00 3130AP6D2 FHLB 1% 09/30/2026 CALLABLE es es es 1,000,000.00 1.000% Aa1 9/21/2021 9/30/2026 0.59 214 3.74% $ 1,000,000.00 $ 984,697.00 3130APHT5 FHLB 1.2% 10/26/2026 CALLABLE 1,000,000.00 1.200% Aa1 10/8/2021 10/26/2026 0.66 240 3.76% $ 1,000,000.00 $ 984,267.00
3130APGP4 FHLB 1.15% 10/28/2026 CALLABLE $ 1,000,000.00 1.150% Aa1 10/8/2021 10/28/2026 0.66 242 3.75% $ 1,000,000.00 $ 983,827.00 3130APHA6 FHLB STEP 10/28/2026 CALLABLE 1,000,000.00 1.250% Aa1 10/8/2021 10/28/2026 0.66 242 3.68% $ 1,000,000.00 $ 985,043.00 3133ENDC1 FFCB 1.33% 11/03/2026 CALLABLE 1,000,000.00 1.330% Aa1 11/1/2021 11/3/2026 0.68 248 3.61% $ 1,000,000.00 $ 984,605.00 3130APWE1 FHLB 1.5% 11/25/2026 CALLABLE 1,000,000.00 1.500% Aa1 11/15/2021 11/25/2026 0.74 270 3.73% $ 1,000,000.00 $ 984,580.00 3133ENFNS FFCB 1.54% 11/30/2026 CALLABLE 1,000,000.00 1.540% Aa1 11/23/2021 11/30/2026 0.75 275 3.72% $ 1,000,000.00 $ 984,617.00 3133ENJC5 FFCB 1.29% 12/22/2026 CALLABLE $ 1,000,000.00 1.290% Aa1 12/16/2021 12/22/2026 0.81 297 3.71% $ 1,000,000.00 $ 981,603.00 3130AQBE2 FHLB 1.65% 12/30/2026 CALLABLE 1,000,000.00 1,650% Aa1 12/7/2021 12/30/2026 0.84 305 3.80% $ 1,000,000.00 $ 984,074.00 3130AQET6 FHLB 1.4% 12/30/2026 CALLABLE 1,000,000.00 1.400% Aa1 12/27/2021 12/30/2026 0.84 305 3.70% $ 1,000,000.00 $ 982,056.00 3133ENKG4 FFCB 1.47% 01/11/2027 CALLABLE 1A e
1,000,000.00 1.470% Aa1 1/4/2022 1/11/2027 0.87 317 3.83% $ 1,000,000.00 $ 981,821.00 3133EWCY4 FEDERAL FARM CR BKS 3.57% 02/11/2028 CALLABLE 2,500,000.00 3.570% Aa1 2/26/2026 2/11/2028 1.95 713 3.62% $ 2,497,510.00 $ 2,495,120.00 3134HBT43 FHLMC 4.125% 09/26/2028 CALLABLE 5,000,000.00 4.125% Aa1 10/7/2025 9/26/2028 2.58 941 4.16% $ 5,000,010.00 $ 5,001,410.00 3133ETW29 FFCB 4.17% 08/19/2030 CALLABLE 5,000,000.00 4.170% Aal 12/2/2025 8/19/2030 4.47 1633 4.24% $ 4,997,510.00 $ 4,995,645.00 3134HBV65 FHLMC 4.25% 10/08/2030 CALLABLE 5,000,000.00 4.250% Aa1 10/7/2025 10/8/2030 4.61 1683 4.31% $ 5,000,010.00 4,999,285.00 3134HBW31 FHLMC 4% 10/08/2030 CALLABLE 4,000,000.00 4.000% Aa1 10/7/2025 10/8/2030 4.61 1683 4.05% 4,000,010.00 3,994,808.00 3134HCVLO FHLMC 4.125% 02/20/2031 CALLABLE $ 2,500,000.00 4.125% Aa1 2/25/2026 2/20/2031 4.98 1818 4.14% 2,499,135.00 2,499,537.50 3132D6JW1 FHLMC 4.5% SB8377 04/01/2040 3,000,000.00 4.500% Aa1 2/19/2026 4/1/2040 3.78 5146 4.30% 2,495,949.83 2,496,502.63 31418FRE9 FEDERAL NTNL MORTGAG 4% MA5884 11/01/2040 3,500,000.00 4.000% Aa1 2/19/2026 11/1/2040 4.49 5360 4.19% 3,378,233.88 $ 3,380,909.74 3140MTVW0 FEDERAL NTNL MORTAG 4.5% BW2428 01/01/2041 $ 3,500,000.00 4.500% Aa1 2/19/2026 1/1/2041 3.78 5421 4,30% 3,409,201.67 3,408,759.16 $ 55,000,000.00 $ 54,249,560.38 54,011,813.03
Municipal Bonds
797272RS2 SAN DIEGO CALIF CMNT GO 2.013% 08/01/2030 TAXABLE $ 1,000,000.00 2.013% AAA 12/11/2025 8/1/2030 4.42 1615 3.63% $ 923,990.00 934,590.00 13063DYT9 CALIFORNIA ST GO 1.75% 11/01/2030 TAXABLE 1,000,000.00 1.750% Aa2 12/11/2025 11/1/2030 4.67 1707 3.67% $ 907,810.00 $ 918,170.00
$ 2,000,000.00 1,831,800.00 $ 1,852,760.00
Corporate Bonds
14915K<K2 CATERPILLAR FINL SER 0.9% 03/02/2026 1,625,000.00 0.900% A+ 8/5/2021 3/2/2026 0.01 2 0.90% $ 1,625,339.96 $ 1,624,933.38 48128G3G3 JPMORGAN CHASE & CO. 1.2% 04/30/2026 CALLABLE $ 2,000,000.00 1.200% АД- 4/27/2021 4/30/2026 0.17 61 5.00% $ 2,000,000.00 $ 1,990,470.00 0231358X3 AMAZON.COM, INC. 1% 05/12/2026 CALLABLE 1,000,000.00 1.000% AA S/11/2021 5/12/2026 0.21 73 3.87% $ 996,840.00 $ 994,652.00 91324PEC2 UNITEDHEALTH GROUP | 1.15% 05/15/2026 CALLABLE $ 1,000,000.00 1.150% At 5/18/2021 5/15/2026 0.21 76 3.77% $ 1,000,244.41 $ 994,588.00 06048WM31| BANK OF AMERICA CORP 1.25% 05/28/2026 CALLABLE 1,000,000.00 1.250% AA- 5/26/2021 5/28/2026 0.25 89 5.06% $ 1,000,000.00 993,122.00 38150AG82 THE GOLDMAN SACHS GR 1.4% 06/16/2026 CALLABLE 1,000,000.00 1.400% AZ 6/14/2021 6/16/2026 0.30 108 5.02% $ 1,000,000.00 $ 992,168.00 24422EVR7 JOHN DEERE CAPITAL C 1.05% 06/17/2026 2,000,000.00 1.050% A1 6/15/2021 6/17/2026 0.30 109 3.85% $ 1,985,543.68 1,983,240.00 38150AGW9 THE GOLDMAN SACHS GR 1.45% 07/30/2026 CALLABLE 1,000,000.00 1.450% A2 7/28/2021 7/30/2026 0.42 152 5.02% $ 1,000,000.00 $ 989,206.00 48128G4R8 JPMORGAN CHASE & CO. 1.15% 08/17/2026 CALLABLE 1,000,000.00 1.150% AA- 8/11/2021 8/17/2026 0.47 170 4.67% $ $ 986,575.00 1,000,000.00
931142ERO WALMART INC. 1.05% 09/17/2026 CALLABLE 1,000,000.00 1.050% Aa2 9/13/2021 9/17/2026 0.55 201 3.70% $ 1,000,673.00 985,606.00 24422EVW5 JOHN DEERE CAPITAL C 1.3% 10/13/2026 1,000,000.00 1.300% A1 10/8/2021 10/13/2026 0.62 227 3.80% $ 1,000,051.29 $ 984,137.00 025816DT3 AMERICAN EXPRESS CO VAR 04/23/2027 CALLABLE 1,000,000.00 5.645% A2 10/6/2025 4/23/2027 0.15 419 4.40% $ 1,007,835.59 1,002,303.00 172967LD1 CITIGROUP INC. VAR 01/10/2028 CALLABLE 750,000.00 3.887% 10/14/2025 1/10/2028 0.37 681 4.81% $ 747,812.50 749,052.75 61747YER2 MORGAN STANLEY VAR 04/20/2028 CALLABLE 750,000.00 4.210% A1 10/23/2025 4/20/2028 1.14 782 4.59% $ 751,997.50 750,914.25 022095BQ5 ALTRIA GROUP, INC. 6.2% 11/01/2028 CALLABLE 2,500,000.00 6.200% A3 10/29/2025 11/1/2028 2.59 977 4.00% $ 2,640,078.61 2,634,495.00 17327CAW3. CITIGROUP INC. VAR 03/04/2029 CALLABLE 1,750,000.00 4.785% 10/6/2025 3/4/2029 2.02 1100 4.19% $ 1,775,685.00 1,772,030.75 14040HCZ6 CAPITAL ONE FINL COR VAR 06/08/2029 CALLABLE 750,000.00 6.312% A- 10/23/2025 6/8/2029 2.28 1196 4.79% $ 787,637.70 783,799.50 91159HJM3 U.S. BANCORP VAR 06/12/2029 CALLABLE 750,000.00 5.775% A 10/23/2025 6/12/2029 2.29 1200 4.45% $ 780,762.27 779,067.00 95000U3E1 WELLS FARGO & CO VAR 07/25/2029 CALLABLE 750,000.00 5.574% A1 10/23/2025 7/25/2029 2.41 1243 4.41% $ 177,286.81 $ 775,381.50 89236TMK8 TOYOTA MOTOR CREDIT 4.55% 08/09/2029 1,500,000.00 4.550% A1 11/14/2025 8/9/2029 3.44 1258 3.87% $ 1,522,074.82 1,534,486.50 06406YAA0 THE BANK OF NEW YORK 3.3% 08/23/2029 CALLABLE 2,750,000.00 3.300% A2 10/6/2025 8/23/2029 3.48 1272 4.00% $ 2,676,672.50 $ 2,686,323.75 3 SHUSTER City of San Bernardino
53601 Cash Portfolio
ADVISORY GROUP
As of Date: 2/28/2026
Account # x2662 & x6176
Moody's/
Symbol/CUSIP Secority Name S&P/Fitch MaturityA Weighted Days to Yield to Adjusted Par Value Coupon Rate Purchase Date Market Value
Called bate Average Life Maturity Maturity? Cost Basis
Rating"
06051GL56 BANK OF AMERICA CORP VAR 09/15/2029 CALLABLE $ 1,000,000.00 5.819% AA- 10/30/2025 9/15/2029 2.54 1295 4.34% $ 1,044,470.00 $ 1,041,193.00 00287YBX6 ABBVIE INC. 3.2% 11/21/2029 CALLABLE 1,000,000.00 3.200% A2 10/10/2025 11/21/2029 3.73 1362 3.87% $ 967,900.00 $ 975,385.00
20826F8J4 CONOCOPHILLIPS CO 4.7% 01/15/2030 CALLABLE 1,750,000.00 4.700% A2 10/6/2025 1/15/2030 3.79 1417 4.00% $ 1,785,693.30 $ 1,791,329.75 91324PFG2 UNITEDHEALTH GROUP 1 4.8% 01/15/2030 CALLABLE 1,000,000.00 4.800% A+ 10/14/2025 1/15/2030 3.79 1417 3.99% $ 1,024,083.34 1,029,225.00 61747YFK6 MORGAN STANLEY VAR 01/16/2030 CALLABLE 1,000,000.00 5.173% A1 10/6/2025 1/16/2030 2.88 1418 4.38% $ 1,026,372.04 $ 1,026,161.00 91159HJQ4 U.S. BANCORP VAR 01/23/2030 CALLABLE 1,000,000.00 5.384% 10/6/2025 1/23/2030 2.90 1425 4.31% $ 1,032,874.50 1,036,474.00 95000U3JO WELLS FARGO & CO VAR 01/23/2030 CALLABLE 1,500,000.00 5.198% A1 10/6/2025 1/23/2030 2,90 1425 4.34% $ 1,542,983.46 1,546,972.50 89788MAR3 TRUIST FINL CORP SR VAR 01/24/2030 CALLABLE 1,000,000.00 5.435% 10/14/2025 1/24/2030 2.90 1426 4.36% $ 1,034,471.73 1,035,127.00 438516CYO HONEYWELL INTERNTL 4.7% 02/01/2030 CALLABLE 2,500,000.00 4.700% A2 2/26/2026 2/1/2030 3.84 1434 3.95% $ 2,565,635.00 2,563,165.00 036752BB8 ELEVANCE HEALTH, INC 4.75% 02/15/2030 CALLABLE 1,750,000.00 4.750% A- 10/23/2025 2/15/2030 3.88 1448 4.10% $ 1,782,192.46 1,790,323.50 20030NDG3 COMCAST CORP 3.4% 04/01/2030 CALLABLE 1,000,000.00 3.400% A3 10/10/2025 4/1/2030 4.09 1493 4.00% $ 970,590.00 977,213.00 61747YFQ3 MORGAN STANLEY VAR 04/18/203D CALLABLE es en 5.656% 1,750,000.00 A1 10/31/2025 4/18/2030 3.14 1510 4.31% $ 1,826,450.00 1,821,667.75 025816DU0| AMERICAN EXPRESS CO VAR 04/25/2030 CALLABLE 1,000,000.00 5.532% A2 11/21/2025 4/25/2030 3.16 1517 4.13% $ 1,045,130.00 1,044,535.00 38141GA87 THE GOLDMAN SACHS GR VAR 04/25/2030 CALLABLE 2,000,000.00 5.727% A2 10/6/2025 4/25/2030 3.16 1517 4.32% $ 2,089,390.40 $ 2,092,640.00 718172DT3 PHILIP MORRIS INTERN 4.375% 04/30/2030 CALLABLE 3,000,000.00 4.375% A2 10/29/2025 4/30/2030 4.09 1522 4.05% $ 3,017,990.00 $ 3,032,766.00 ex es
693475BX2 THE PNC FINL SERVICE VAR 05/14/2030 CALLABLE 1,000,000.00 5.492% A 10/6/2025 5/14/2030 3.21 1536 4.20% $ 1,041,338.19 1,042,392.00 65339KBR0 NEXTERA ENERGY CAPIT 2.25% 06/01/2030 CALLABLE $ 750,000.00 2.250% A- 10/23/2025 6/1/2030 4.25 1554 4.13% $ 690,160.00 697,460.25 46647PDF0 JPMORGAN CHASE & CO. VAR 06/14/2030 CALLABLE 1,000,000.00 4.565% AA- 10/6/2025 6/14/2030 3.29 1567 4.35% $ 1,011,968.71 1,016,318.00 11135FCK5 BROADCOM INC. 4.6% 07/15/2030 CALLABLE es es
2,000,000.00 4.600% A3 2/26/2026 7/15/2030 4.30 1598 4.05% $ 2,041,670.00 2,042,004.00 38141GB29 THE GOLDMAN SACHS GR VAR 07/23/2030 CALLABLE $ 750,000.00 5.049% A2 10/23/2025 7/23/2030 3.40 1606 4.37% $ 770,361.00 769,302.75 46647PBES JPMORGAN CHASE & CO. VAR 10/15/2030 CALLABLE $ 1,750,000.00 2.739% AA- 10/29/2025 10/15/2030 3.63 1690 4.28% $ 1,658,260.00 1,674,200.50 91324PFPZ UNITEDHEALTH GROUP | 4.65% 01/15/2031 CALLABLE $ 1,000,000.00 4.650% A+ 2/25/2026 1/15/2031 4.80 1782 4.16% $ 1,019,980.00 $ 1,019,570.00 883556DC3 THERMO FISHER SCIENT 4.2% 03/01/2031 CALLABLE 2,500,000.00 4.200% A2 2/25/2026 3/1/2031 5.01 1827 4.04% $ 2,513,225.00 $ 2,513,837.50 59,875,000.00 60,579,724.77 $ 60,565,813.88
CMO & Asset Backed Securities
Supranationals
45950VPY6 INTERNNL FIN CORP 0.5% 05/15/2026 CALLABLE 1,000,000.00 0.500% Aaa 5/24/2021 5/15/2026 76 4.23% $ 1,000,000.00 $ 999,569.00 4581X0EN4 INTER-AMERICAN DEVEL 4.125% 02/15/2029 $ 2,000,000.00 4.125% Aaa 2/22/2024 2/15/2029 1083 3.43% $ 1,977,260.00 $ 2,038,334.00
3,000,000.00 $ 2,977,260.00 $ 3,037,903.00
Totals $ 322,893.730.81 $ 322,320,676.46 $ 322512,640.22 1 Account adjusted cost basis, ending value, and other information reflects the market value of your cash and investments provided by Charles Schwab & Co., Inc (Schwab). It does not include pending transactions, unpriced securities or assets held outside Schwab's custody. Values may not reflect all of your gains/losses and may be rounded up to the nearest dollar; Schwab has provided accurate gain and loss information wherever possible for most investments. Cost basis may be incomplete or unavailable for some of your holdings and may change or be adjusted in certain cases. 2 Portfolio Manager provides bond ratings from Moody and Standard & Poor, and the highest of these ratings is reported for each bond. Portfolio Manager also also provides weighted-average-life and yield-to-maturity as of the month-end's valuation. 3 See acompanying Moody's, Standard and Poor's, and Fitch's ratings descriptions and further details on the rating process from the rating agencies. 4 Agency Mortgage Pool Investments, such as bonds issued from the Federal Home Loan Mortgage Corporation (FHLMC), Federal National Mortgage Association (FNMA), or Government National Mortgage Association (GNMA), are amortizing bonds whose principal is paid down over time. As such, performance should be evaluated relative to the Cost Basis of the Investment, not the Par Value. 4 SHUSTER City of San Bernardino
ADVISORY GROUP Rating Agency Disclosures
As of Date: 2/28/2026
Rater Investment Grade Rating Non-Investment Grade Rating Moody's Aaa Aal Aa2 Aa3 A1 A2 A3 Baa1 Baa2 Bаa3 Bal Ba2 Ba3 B1 B2 B3 Below S&P/Fitch 2,3 AAA AA+ AA AA- A+ A- BBB+ BBB BBB- BB+ BB BB- B+ B- Below 1 - Moody's Official Rating Descriptor/Definition Credit Ratings are assigned on Moody's global long-term and short-term rating scales and are forward-looking opinions of the relative credit risks of financial obligations issued by non-financial corporates, financial institutions, structured finance vehicles, project finance vehicles, and public sector entities. Moody's defines credit risk as the risk that an entity may not meet its contractual financial obligations as they come due and any estimated financial loss in the event of default or impairment. The contractual financial obligations addressed by Moody's ratings are those that call for, without regard to enforceability, the payment of an ascertainable amount, which may vary based upon standard sources of variation (e.g., floating interest rates), by an ascertainable date. Moody's rating addresses the issuer's ability to obtain sufficient cash to service the obligation, and its willingness to pay. Moody's ratings do not address non-standard sources of variation in the amount of the principal obligation (e.g., equity indexed), absent an express statement to the contrary in a press release accompanying an initial rating. Long-term ratings are assigned to issuers or obligations with an original maturity of eleven months or more and reflect both on the likelihood of a default or impairment on contractual financial obligations and the expected financial loss suffered in the event of default or impairment. Short-term ratings are assigned to obligations with an original maturity of thirteen months or less and reflect both on the likelihood of a default or impairment on contractual financial obligations and the expected financial loss suffered in the event of default or impairment. Moody's issues ratings at the issuer level and instrument level on both the long-term scale and the short-term scale. Typically, ratings are made publicly available although private and unpublished ratings may also be assigned. Source: Moody's "Rating Symbols and Definitions", 2025 edition. https://ratings.moodys.com/api/rmc-documents/53954 2 - Standard & Poor's Official Rating Descriptor/Definition An S&P Global Ratings issue credit rating is a forward-looking opinion about the creditworthiness of an obligor with respect to a specific financial obligation, a specific class of financial obligations, or a specific financial program (including ratings on medium-term note programs and commercial paper programs). It takes into consideration the creditworthiness of guarantors, insurers, or other forms of credit enhancement on the obligation and considers the currency in which the obligation is denominated. The opinion reflects S&P Global Ratings' view of the obligor's capacity and willingness to meet its financial commitments as they come due, and this opinion may assess terms, such as collateral security and subordination, which could affect ultimate payment in the event of default. Source: "S&P Global Ratings Definitions" last updated 12/02/2024. https://www.spglobal.com/ratings/en/research/articles/190705-s-p-global-ratings-definitions-504352 3 - Fitch's Official Rating Descriptor/Definition: Fitch Ratings publishes credit ratings that are forward-looking opinions on the relative ability of an entity or obligation to meet financial commitments. Issuer default ratings (IDRs) are assigned to corporations, sovereign entities, financial institutions such as banks, leasing companies and insurers, and public finance entities (local and regional governments). Issue level ratings are also assigned, often include an expectation of recovery and may be notched above or below the issuer level rating. Issue ratings are assigned to secured and unsecured debt securities, loans, preferred stock and other instruments, Structured finance ratings are issue ratings to securities backed by receivables or other financial assets that consider the obligations' relative vulnerability to default. Credit ratings are indications of the likelihood of repayment in accordance with the terms of the issuance. In limited cases, Fitch may include additional considerations (i.e., rate to a higher or lower standard than that implied in the obligation's documentation). Please see the section Specific Limitations Relating to Credit Rating Scales for details. Credit ratings express risk in relative rank order, which is to say they are ordinal measures of credit risk and are not predictive of a specific frequency of default or https://www.fitchratings.com/research/banks/rating-definitions-19-09-2025 5