Finance Committee
April 22, 2026

Investment Performance Review
For the Quarter Ended December 31, 2025
Client Management Team PFM Asset Management A division of U.S. Bancorp Asset Management, Inc 213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
1 California Street Ste. 1000
San Francisco, CA 94111-5411
415-393-7270
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public City of San Leandro
Monique Spyke, Managing DirectorAllison Kaune, Relationship ManagerJohn Zhang, CFA, Portfolio Manager Shelly Ilgenfritz, Key Account Manager
PFM Asset Management | pfmam.com
Market Update
2 Current Market Themes
Source: Details on market themes and economic indicators provided throughout the body of the presentation. Bloomberg Finance L.P., as of December 31, 2025. ▸ U.S. economy remains resilient but government shutdown obscures data ▹ Inflation print likely biased lower due to data collection gaps and technical adjustments▹ Unemployment rate trends higher with net new job creation near zero▹ Strong consumer and business spending, along with steadier trade dynamics, support growth ▸ The Fed lowered the target rate by 50 basis points in the fourth quarter to 3.50-3.75% ▹ Fed Chair Powell acknowledged ongoing challenges in achieving the Fed’s dual mandate of maximum employment and price stability
▹ The Fed’s December “dot plot” indicates 25 bps of cuts in both 2026 and 2027, but the wide dispersion in underlying projections highlights differing views on path forward ▹ Markets view policy is skewed towards additional easing assuming a more dovish Chair takes office in mid-2026
▸ Treasury yield curve continues to steepen but remains inverted inside 2 years ▹ Front end Treasury yields moved lower during the fourth quarter on Fed rate cut expectations▹ Yields were range bound as volatility waned into year end▹ Credit spreads widened marginally but remain near historically narrow levels City of San Leandro
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
3 2.7%

2.6%

2.0%2.5%3.0%3.5%4.0%
May-24 Nov-24 May-25 Nov-25
Consumer Price Index
Year-over-year Change
CPI Core CPI
Gaps in data collection
led to a drop in headline
and core inflation
Source: FOMC Chair Jerome Powell Press Conference, December 10, 2025. Bureau of Labor Statistics and Bloomberg Finance L.P. as of November 2025.

Fed Chair Powell: "The data may be distorted ... because [it] was not collected in October and half of November." Price Increases For Key Goods
EnergyApparel
Food at Home
Transportation
Home Furnishings
3-Month Annualized Inflation Rates (Sep-25)2024
3-MonthAverage 2024
+4.1% -0.9%+5.3% +1.2%+3.1% -1.2%+3.2% +1.8%+4.6% -0.5% Inflation Moves Lower
City of San Leandro
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
4 Source: FOMC Chair Jerome Powell Press Conference, December 10, 2025. Bureau of Labor Statistics and Bloomberg Finance L.P. as of December 2025. -300-200-100
0 100200300400
Dec-24 Jun-25 Dec-25
Thousands
Monthly Change In Nonfarm Payrolls
Private Ex Health Care & Edu Health Care & Edu Govt
-22K Avg
-173K
56K
Deferred
government
resignations
Private education and health
services remain the primary
driver of payroll gains
50K

4.4%
3%4%5%
Dec-22 Dec-23 Dec-24 Dec-25
Unemployment Rate
Fed Chair Powell: “[S]upply of workers has also gone way down, so the unemployment rate hasn’t moved that much. It is a labor market that seems to have significant downside risks…” Labor Market Continues to Cool
City of San Leandro
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
5 Fed Chair Powell: "[T]he top third [of earners] accounts for way more than a third of the consumption ... So it’s a good question how sustainable that is."

3.3%

1.9%
-0.6%

3.8%

4.3%
-6%-4
%
-2%
0%2%4%6%8%
2024Q3 2024Q4 2025Q1 2025Q2 2025Q3
U.S. Real GDP Contributors and
Detractors
Personal Consumption Fixed InvestmentPrivate Inventories Net ExportsGov't Expenditures 2%4%6%8%
2020 2021 2022 2023 2024 2025
Wage Growth by Income Quartiles
Atlanta Fed Wage Growth Tracker
Lowest quartile Highest quartile
K-Shaped Economy
Source: FOMC Chair Jerome Powell Press Conference, December 10, 2025. Bloomberg Finance L.P. and Bureau of Economic Analysis, as of September 2025 (left). Federal Reserve Bank of Atlanta, as of September 2025 (right).

City of San Leandro
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
6 Source: FOMC Chair Jerome Powell Press Conference, December 10, 2025. Federal Reserve, latest median economic projections, as of December 2025.

Fed Chair Powell: "[T]he baseline [expectation] would be solid growth next year" ... "[We] feel like we have made progress this year in nontariff-related inflation."

1.7%

2.3%

2.0% 1.9% 1.8%
0%1%2%3%
2025 2026 2027 2028 Longer
Run
Change in Real GDP
Sep Projections Dec Projections

2.9%

2.4%

2.1% 2.0% 2.0%
0%1%2%3%4%
2025 2026 2027 2028 Longer
Run
PCE Inflation
Sep Projections Dec Projections

4.5% 4.4% 4.2% 4.2% 4.2%
0%1%2%3%4%5%6%
2025 2026 2027 2028 Longer
Run
Unemployment Rate
Sep Projections Dec Projections

3.6% 3.4% 3.1% 3.1% 3.0%
0%1%2%3%4%5%
2025 2026 2027 2028 Longer
Run
Federal Funds Rate
Sep Projections Dec Projections
Fed’s Updated Summary of Economic Projections
City of San Leandro
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
7 0%
1%2%3%4%5%
Fed Participants’ Assessments of ‘Appropriate’ Monetary Policy Dec-25 FOMC ProjectionsSep-25 MedianDec-25 Median
Fed Chair Powell: “[I]t is very unusual to have persistent tension between the two parts of the mandate… But it is not like the normal situation where everyone agrees on the direction and what to do. It is more spread out.” 2025 2026 2027 2028
The December Fed “Dot Plot”
Longer Term
1 cut 1 cut 0 cuts 3.0%
Source: FOMC Chair Jerome Powell Press Conference, December 10, 2025. Federal Reserve; Bloomberg Finance L.P.. Individual dots represent each Fed members’ judgement of the midpoint of the appropriate target range for the federal funds rate at each year-end. As of December 2025.

City of San Leandro
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
8 Source: Bloomberg Finance L.P., as of December 31, 2025.

3.25%3.50%3.75%
Sep-25 Oct-25 Nov-25 Dec-25
2-Year U.S. Treasury Yield
September 30, 2025 – December 31, 2025
Nov 20thNonfarm payrolls mixed
Dec 5th September CPI subduedConsumer confidence rises for the first time in 5 months Dec 10th
Chair Powell notes
inflation excluding tariffs
nears Fed’s 2% target
Oct 10th
Government shutdown enters second week
Oct 29thHawkish comments from Chair Powell at FOMC
press conference
Nov 19th
FOMC Minutes
highlight policy
uncertainty
Treasury Yields Range Bound As Volatility Wanes
City of San Leandro
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
9 Source: Bloomberg Finance L.P., as of December 31, 2025.

3.47%
0%1%
2%3%
4%5%6%
2005 2010 2015 2020 2025
2-Year Treasury Yield
2-Year Treasury 5-Year Avg 10-Year Avg 20-Year Avg

3.21%2.31%1.90%
Treasury Yields Remain Above Historical Averages
City of San Leandro
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
10 Source: Bloomberg Finance L.P., as of December 31, 2025.

3.63%

3.47%

3.73%

3.94%

4.17%

4.84%

3.00%3.50%

4.00%4.50%5.00%5.50%
Yield
Maturity
U.S. Treasury Yield Curve
1 Year RangeDecember 31, 2025September 30, 2025
3mo 2yr 5yr 7yr 10yr 20yr 30yr
Treasury Yield Curve Nears Dis-inversion
City of San Leandro
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
11 Source: ICE BofA 1-5 year Indices via Bloomberg Finance L.P. as of December 31, 2025. Spreads on ABS and MBS are option-adjusted spreads based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries. CMBS is Commercial Mortgage-Backed Securities and represented by the ICE BofA Agency CMBS Index. -20
0 20406080
100120140
Federal
Agency
Agency
CMBS
Agency MBS AAA Auto
ABS
AAA Credit
Card ABS
AAA
Corp
AA
Corp
A
Corp
BBB
Corp
Basis Points
1-5 Year Yield Spreads
2025 Range Dec-25 Spread
Sector Yield Spreads
City of San Leandro
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
12 Source: ICE BofA Indices. ABS indices are 0-5 year, based on weighted average life. Agency CMBS represented by ICE BofA CMBY Index. As of December 31, 2025.

0.08%
-0.05%

0.07%

0.63%

0.02%

0.26%

0.05%

0.87%
-0.25%

0. 00%

0.25%0.50%0.75%1.00%
4Q25 1-Year
Excess Returns
1-5 Year Indices
Federal Agency Agency CMBS ABS Corp A-AAA
Fixed-Income Index Excess Returns
City of San Leandro
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
13 Source: ICE BofA Indices. ABS Indices are 0-5 year, based on weighted average life. As of December 31, 2025.

1.12% 1.08% 1.14% 1.19% 1.26%
0%2%4%6%8%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
Fourth Quarter 2025 Returns

5.74%

5.37% 5.33%

6.31%

7.05%
0%2%4%6%8%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
1-Year Return
1-5 Year Indices
Fixed-Income Index Total Returns in 4Q 2025
City of San Leandro
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
14 Statements and opinions expressed about the next 6-12 months were developed based on our independent research with information obtained from Bloomberg Finance L.P. and FactSet. The views expressed within this material constitute the perspective and judgment of PFM Asset Management at the time of distribution (12/31/2025) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management cannot guarantee its accuracy, completeness, or suitability.

Monetary Policy (Global):• The Fed cut rates by 50 bps in Q4 but noted continuing challenges to achieving its dual mandateof maximum employment and stable prices. • The “dot plot” indicates 25 bps of projected cuts in
both 2026 and 2027, but the wide dispersionunderscores growing differences of opinion. • Markets view policy risks as skewed towards
additional easing assuming a more dovish Chairtakes office in mid-2026 as expected. • Most major central banks have continued easing
with the BOJ being the notable exception.

Economic Growth (Global):• Strong consumer and business spending and steadier trade dynamics continue to fuel economicgrowth. • The effects of U.S. government shutdown are
expected to be temporary and fully recouped in1Q26.
• Benefits from the tax and reconciliation bill and
increases in anticipated AI capex are expected tosupport growth in 2026.

Inflation (U.S.): • While headline inflation moved lower in Q4, significant gaps in data collection due to the U.S.government shutdown likely biased the data lower. • Lower shelter inflation continues to support
disinflation going forward although goods pricescontinue to experience tariff passthroughs. • Fed Chair Powell noted inflation excluding tariffs is near 2%, suggesting the Fed is looking throughthese effects.

Financial Conditions (U.S.):• Financial conditions eased further as corporate earnings exceeded expectations and tariff concernsabated. • Equities reached new all-time highs, credit spreads
remain tight, and volatility remains low.
• Fiscal uncertainty and geopolitical risks could
reintroduce tighter financial conditions over the next6-12 months.

Consumer Spending (U.S.): • Consumer confidence sank given a more pessimistic views of the labor market, particularlyamong lower-income cohorts. • Consumer activity remained resilient through the
holiday shopping season, highlighting thedisconnect between sentiment and actual activity. • Consumer spending is dominated by higher-income
cohorts who benefit from elevated wage growth,strong equity markets, and home price appreciation. • A significant correction in the equity market or a
material slowdown in the labor market are thelargest threats to consumer spending.

Labor Markets (U.S.):• Labor market conditions continued to cool with net new job creation close to zero with gainsconcentrated in the healthcare sector. • The breakeven employment level to keep pace with
labor force growth has fallen. Initial jobless claimsand layoff rates remains low, easing some concernsover labor weakness. • The unemployment rate continued to tick higher,
while job openings declined and the quits rateremain subdued, signaling reduced workerleverage. • Wage growth continues to exceed inflation,
supporting consumer spending.

Stance Unfavorable
to Risk Assets
Stance Favorable
to Risk Assets Current outlook Outlook one quarter ago Negative Slightly Negative Neutral Slightly Positive Positive Factors to Consider for 6-12 Months
City of San Leandro
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
15 PFM Asset Management | pfmam.com
Portfolio Review:

CITY OF SAN LEANDRO INVESTMENT FUNDS
16 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Snapshot
Yield and duration calculations exclude cash and cash equivalents. Sector allocation includes market values and accrued interest.The portfolio’s benchmark is the ICE BofA 0-5 Year U.S. Treasury Index. Source: Bloomberg Financial LP.

An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.

1. Portfolio Snapshot - CITY OF SAN LEANDRO INVESTMENT FUNDS¹ Credit Quality - S&P
28%
24%
21%
18%
9%
26% 27%
22%
16%
9%
0%5%
10%15%20%25%30%
0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 41%Corporate | 24%
ABS | 13%
Federal Agency | 12%
Agency CMBS | 6%
Commercial Paper | 2%Supranational | 2%
Sector Allocation
AAA | 13%AA+ | 63%AA | 1%AA- | 3%A+ | 4%A | 5%A- | 5%A-1 | 1%A-2 | 1% Not Rated | 3%
Portfolio Statistics
Portfolio Effective Duration 2.05 years
Benchmark Effective Duration 2.02 yearsPortfolio Credit Quality AA Yield At Market 3.76%
Yield At Cost 4.16%
Total Market Value $163,304,505.25
Securities Sub-Total $160,968,330.84Cash $1,016,107.41
Accrued Interest $1,320,067.00
17 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Summary
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balancesinvested in overnight funds.

Issuer Diversification
Security Type / Issuer Market Value (%) S&P / Moody's / FitchU.S. Treasury 40.8% United States Treasury 40.8% AA / Aa / AA
Federal Agency 12.5%
Federal Farm Credit Banks Funding Corp 3.3% AA / Aa / AAFederal Home Loan Banks 9.2% AA / Aa / NR Agency CMBS 5.8%
Federal Home Loan Mortgage Corp 5.8% AA / Aa / AA
Supranational 1.9%
Inter-American Development Bank 1.0% AAA / Aaa / NRInternational Finance Corp 0.9% AAA / Aaa / NR Commercial Paper 2.1%
Barclays PLC 1.0% A / NR / ACharles Schwab Corp 1.0% BBB / Aa / A Corporate 23.7%
Accenture PLC 0.8% AA / Aa / NRAlphabet Inc 1.6% AA / Aa / NRAmazon.com Inc 0.6% AA / A / AAApple Inc 0.6% AA / Aaa / NR Bank of America Corp 1.7% A / A / AABank of New York Mellon Corp 1.6% A / Aa / AACaterpillar Inc 1.0% A / A / ACisco Systems Inc 0.8% AA / A / NRDepository Trust & Clearing Corp 2.0% AA / Aa / NRHome Depot Inc 0.4% A / A / AJPMorgan Chase & Co 1.4% A / A / AA KLA Corp 1.1% A / A / A
Security Type / Issuer Market Value (%) S&P / Moody's / FitchCorporate 23.7% Merck & Co Inc 0.6% A / Aa / NRMeta Platforms Inc 0.5% AA / Aa / NRMorgan Stanley 1.3% A / A / ANational Rural Utilities Cooperative Fi 0.4% NR / A / ANorthern Trust Corp 1.0% A / A / ANovartis AG 0.9% AA / Aa / NRPACCAR Inc 0.2% A / A / NRPNC Financial Services Group Inc 0.5% A / A / ARealty Income Corp 1.3% A / A / NRRoche Holding AG 0.8% AA / Aa / AAToyota Motor Corp 1.3% A / A / ATruist Financial Corp 0.5% A / A / A UnitedHealth Group Inc 0.6% A / A / A
ABS 13.3%
Ally Auto Receivables Trust 0.2% AAA / NR / AAAAmerican Express Co 1.3% AAA / NR / AAA BA Credit Card Trust 0.6% AAA / Aaa / NRBMW Vehicle Lease Trust 1.1% AAA / Aaa / AAACapital One Financial Corp 0.9% AAA / NR / AAAChase Auto Owner Trust 0.5% NR / Aaa / AAA Ford Credit Auto Owner Trust 0.4% NR / Aaa / AAAGM Financial Consumer Automobile Receiv 0.3% AAA / Aaa / AAAGM Financial Leasing Trust 0.6% AAA / NR / AAAHonda Auto Receivables Owner Trust 0.6% AAA / Aaa / AAAHyundai Auto Lease Securitization Trust 0.2% AAA / NR / AAAHyundai Auto Receivables Trust 1.4% AAA / NR / AAA 18 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Summary
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balancesinvested in overnight funds.

Issuer Diversification
Security Type / Issuer Market Value (%) S&P / Moody's / FitchABS 13.3% John Deere Owner Trust 0.6% NR / Aaa / AAAJPMorgan Chase & Co 2.0% AAA / NR / AAAMercedes-Benz Auto Lease Trust 0.3% NR / Aaa / AAA Mercedes-Benz Auto Receivables Trust 0.1% AAA / NR / AAAToyota Auto Receivables Owner Trust 0.3% AAA / NR / AAAToyota Lease Owner Trust 1.4% AAA / Aaa / AAAUSAA Auto Owner Trust 0.2% AAA / Aaa / NR Total 100.0%
19 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Characteristics
$0.0
$34.0$68.0
$102.0$136.0$170.0
Millions
$0.0
$34.0$68.0
$102.0$136.0$170.0
Millions
$0.0
$34.0$68.0
$102.0$136.0$170.0
Millions
December 2025
$0.0
$34.0$68.0
$102.0$136.0$170.0
Millions
September 2025
Sector Allocation Review
U.S. Treasury Federal Agency Agency CMBS Supranational Commercial Paper Corporate ABS Market values, excluding accrued interest. Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. Detail may not add to total due to rounding.

Security Type Sep-25 % of Total Dec-25 % of Total
U.S. Treasury $86.6 51.6% $65.7 40.9%Federal Agency $26.3 15.6% $20.0 12.4% Agency CMBS $4.9 2.9% $9.4 5.8%
Supranational $2.4 1.4% $3.0 1.9%Commercial Paper $1.7 1.0% $3.4 2.1%Corporate $25.8 15.3% $38.0 23.6% ABS $20.4 12.2% $21.5 13.3%
Total $168.1 100.0% $161.0 100.0%
20 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Portfolio Activity
Net Activity by Sector
($ millions)
U.S. TreasuryFederal Agency
Supranational
ABS
Commercial Paper
Agency CMBS
Corporate
U.S. Treasury
Federal Agency
Supranational
ABS
Commercial Paper
Agency CMBS
Corporate
($40.0) ($20.0) $0.0 $20.0 $40.0
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.

Sector Net ActivityCorporate $12,257,133
Agency CMBS $4,442,541
Commercial Paper $1,690,434
ABS $1,049,648
Supranational $622,276Federal Agency ($6,336,296)U.S. Treasury ($21,368,158)Total Net Activity ($7,642,423) Sales/Maturities Purchases
21 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Performance

1. The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is September 30, 2025.2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.3. Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.4. The portfolio’s benchmark is the ICE BofA 0-5 Year U.S. Treasury Index. Source: Bloomberg Financial LP.

0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Return
Portfolio Benchmark
Portfolio Performance
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years Since Inception¹ Interest Earned² $1,664,012 - - - - Change in Market Value $229,409 - - - - Total Dollar Return $1,893,421 - - - - Total Return³
Portfolio 1.12% - - - - Benchmark⁴ 1.10% - - - - 3 Months 1 Year 3 Years 5 Years Since Inception 22 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Performance

1. The lesser of 10 years or since inception is shown. Performance inception date is September 30, 2025.2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.3. Realized gains / (losses) are shown on an amortized cost basis.

Accrual Basis Earnings
Accrual Basis EarningsInterest Earned²Realized Gains / (Losses)³Change in Amortized CostTotal Earnings 3 Months
$1,664,012
$329,159
$98,767
$2,091,938
1 Year---- 3 Years---- 5 Year---- Since Inception¹ $1,664,012 $329,159 $98,767 $2,091,938 23 PFM Asset Management | pfmam.com
Portfolio Holdings and Transactions
24 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Holdings
Managed Account Detail of Securities Held
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/BDTD 08/15/2016 1.500% 08/15/2026
9128282A7 650,000.00 AA+ Aa1 12/21/2022 12/22/2022 597,212.89 3.91 3,682.74 640,474.50 641,789.85 US TREASURY N/BDTD 11/15/2016 2.000% 11/15/2026
912828U24 2,000,000.00 AA+ Aa1 3/30/2022 3/31/2022 1,953,203.13 2.54 5,193.37 1,990,778.09 1,973,574.00 US TREASURY N/BDTD 12/15/2023 4.375% 12/15/2026
91282CJP7 1,900,000.00 AA+ Aa1 12/21/2023 12/22/2023 1,916,921.88 4.05 3,882.21 1,905,632.47 1,914,903.60 US TREASURY N/BDTD 01/16/2024 4.000% 01/15/2027
91282CJT9 750,000.00 AA+ Aa1 2/28/2024 2/29/2024 740,566.41 4.47 13,858.70 746,456.75 753,596.25 US TREASURY N/BDTD 03/31/2022 2.500% 03/31/2027
91282CEF4 3,000,000.00 AA+ Aa1 8/18/2022 8/19/2022 2,928,164.06 3.06 19,162.09 2,979,638.61 2,962,851.00 US TREASURY N/BDTD 04/15/2024 4.500% 04/15/2027
91282CKJ9 3,000,000.00 AA+ Aa1 4/26/2024 4/29/2024 2,971,992.19 4.84 28,928.57 2,987,365.13 3,036,915.00 US TREASURY N/BDTD 05/15/2017 2.375% 05/15/2027
912828X88 3,000,000.00 AA+ Aa1 12/15/2022 12/16/2022 2,838,164.06 3.71 9,250.69 2,946,956.69 2,954,766.00 US TREASURY N/BDTD 07/15/2024 4.375% 07/15/2027
91282CKZ3 1,600,000.00 AA+ Aa1 7/30/2024 7/31/2024 1,608,875.00 4.17 32,336.96 1,604,753.90 1,621,249.60 US TREASURY N/BDTD 08/31/2022 3.125% 08/31/2027
91282CFH9 4,000,000.00 AA+ Aa1 5/29/2024 5/30/2024 3,802,500.00 4.78 42,472.38 3,895,440.08 3,977,032.00 US TREASURY N/BDTD 09/30/2022 4.125% 09/30/2027
91282CFM8 1,000,000.00 AA+ Aa1 7/30/2024 7/31/2024 999,570.31 4.14 10,539.15 999,756.87 1,010,703.00 US TREASURY N/BDTD 09/30/2022 4.125% 09/30/2027
91282CFM8 500,000.00 AA+ Aa1 12/15/2022 12/16/2022 510,390.63 3.65 5,269.57 503,994.17 505,351.50 US TREASURY N/BDTD 11/30/2022 3.875% 11/30/2027
91282CFZ9 1,000,000.00 AA+ Aa1 12/15/2022 12/16/2022 1,011,992.19 3.61 3,406.59 1,004,879.88 1,007,109.00 US TREASURY N/BDTD 11/30/2022 3.875% 11/30/2027
91282CFZ9 2,000,000.00 AA+ Aa1 6/14/2023 6/15/2023 1,986,015.63 4.05 6,813.19 1,993,700.85 2,014,218.00 US TREASURY N/BDTD 01/31/2023 3.500% 01/31/2028
91282CGH8 3,000,000.00 AA+ Aa1 2/23/2023 2/24/2023 2,914,101.56 4.15 43,940.22 2,961,636.80 3,000,585.00 US TREASURY N/BDTD 03/31/2023 3.625% 03/31/2028
91282CGT2 2,000,000.00 AA+ Aa1 5/9/2023 5/10/2023 2,010,156.25 3.51 18,523.35 2,004,877.70 2,005,312.00 25 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/BDTD 03/31/2023 3.625% 03/31/2028
91282CGT2 1,000,000.00 AA+ Aa1 6/14/2023 6/15/2023 983,437.50 4.01 9,261.68 991,854.55 1,002,656.00 US TREASURY N/BDTD 05/31/2023 3.625% 05/31/2028
91282CHE4 1,160,000.00 AA+ Aa1 12/18/2024 12/19/2024 1,137,615.63 4.23 3,696.70 1,144,008.55 1,163,035.72 US TREASURY N/BDTD 06/30/2023 4.000% 06/30/2028
91282CHK0 2,500,000.00 AA+ Aa1 2/12/2025 2/13/2025 2,466,503.91 4.43 276.24 2,474,761.90 2,529,297.50 US TREASURY N/BDTD 09/15/2025 3.375% 09/15/2028
91282CNY3 2,150,000.00 AA+ Aa1 9/12/2025 9/15/2025 2,140,845.70 3.53 21,648.48 2,141,717.41 2,141,180.70 US TREASURY N/BDTD 10/15/2025 3.500% 10/15/2028
91282CPC9 1,265,000.00 AA+ Aa1 12/2/2025 12/3/2025 1,263,715.23 3.54 9,487.50 1,263,752.48 1,263,714.76 US TREASURY N/BDTD 01/31/2024 4.000% 01/31/2029
91282CJW2 500,000.00 AA+ Aa1 2/27/2025 2/28/2025 498,085.94 4.11 8,369.57 498,472.21 506,367.00 US TREASURY N/BDTD 01/31/2024 4.000% 01/31/2029
91282CJW2 450,000.00 AA+ Aa1 1/28/2025 1/29/2025 444,656.25 4.33 7,532.61 445,810.90 455,730.30 US TREASURY N/BDTD 05/15/2019 2.375% 05/15/2029
9128286T2 2,500,000.00 AA+ Aa1 9/4/2025 9/5/2025 2,395,996.09 3.59 7,708.91 2,404,555.45 2,403,710.00 US TREASURY N/BDTD 06/30/2022 3.250% 06/30/2029
91282CEV9 1,300,000.00 AA+ Aa1 9/3/2025 9/4/2025 1,282,988.28 3.62 116.71 1,284,336.47 1,285,172.20 US TREASURY N/BDTD 07/01/2024 4.250% 06/30/2029
91282CKX8 1,000,000.00 AA+ Aa1 3/26/2025 3/27/2025 1,006,093.75 4.09 117.40 1,005,077.39 1,021,133.00 US TREASURY N/BDTD 07/01/2024 4.250% 06/30/2029
91282CKX8 1,500,000.00 AA+ Aa1 1/28/2025 1/29/2025 1,494,082.03 4.35 176.10 1,495,230.15 1,531,699.50 US TREASURY N/BDTD 08/31/2022 3.125% 08/31/2029
91282CFJ5 2,500,000.00 AA+ Aa1 9/4/2025 9/5/2025 2,455,761.72 3.61 26,545.23 2,459,162.86 2,457,812.50 US TREASURY N/BDTD 09/30/2024 3.500% 09/30/2029
91282CLN9 500,000.00 AA+ Aa1 9/3/2025 9/4/2025 497,636.72 3.63 4,471.15 497,814.90 497,676.00 US TREASURY N/BDTD 12/02/2024 4.125% 11/30/2029
91282CMA6 2,500,000.00 AA+ Aa1 9/4/2025 9/5/2025 2,548,925.78 3.62 9,065.93 2,545,460.54 2,543,165.00 US TREASURY N/BDTD 01/31/2023 3.500% 01/31/2030
91282CGJ4 3,250,000.00 AA+ Aa1 11/3/2025 11/6/2025 3,226,259.77 3.69 47,601.90 3,227,059.02 3,231,338.50 US TREASURY N/BDTD 02/28/2023 4.000% 02/28/2030
91282CGQ8 2,500,000.00 AA+ Aa1 9/3/2025 9/4/2025 2,535,937.50 3.65 33,977.90 2,533,493.06 2,531,835.00 US TREASURY N/BDTD 03/31/2023 3.625% 03/31/2030
91282CGS4 2,500,000.00 AA+ Aa1 9/3/2025 9/4/2025 2,495,410.16 3.67 23,154.19 2,495,723.46 2,495,312.50 26 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/BDTD 06/02/2025 4.000% 05/31/2030
91282CNG2 1,900,000.00 AA+ Aa1 9/3/2025 9/4/2025 1,927,980.47 3.66 6,681.32 1,926,212.89 1,924,194.60 US TREASURY N/BDTD 06/30/2025 3.875% 06/30/2030
91282CNK3 350,000.00 AA+ Aa1 9/2/2025 9/3/2025 352,255.86 3.73 37.47 352,116.55 352,638.65 US TREASURY N/BDTD 07/31/2025 3.875% 07/31/2030
91282CNN7 1,025,000.00 AA+ Aa1 8/28/2025 8/29/2025 1,033,047.85 3.70 16,621.43 1,032,537.94 1,032,567.58 US TREASURY N/BDTD 08/31/2023 4.125% 08/31/2030
91282CHW4 1,900,000.00 AA+ Aa1 10/1/2025 10/6/2025 1,937,480.47 3.68 26,630.18 1,935,793.71 1,933,398.20 US TREASURY N/BDTD 10/31/2025 3.625% 10/31/2030
91282CPD7 2,000,000.00 AA+ Aa1 12/1/2025 12/4/2025 2,000,859.38 3.61 12,417.13 2,000,852.37 1,991,562.00 Security Type Sub-Total 65,650,000.00 64,915,402.18 3.86 522,855.51 65,322,147.25 65,675,153.01 Supranational
INTL FINANCE CORPDTD 12/06/2023 4.375% 01/15/2027
45950KDF4 1,415,000.00 AAA Aaa 11/29/2023 12/6/2023 1,410,387.10 4.49 28,545.66 1,413,388.03 1,425,030.94 INTER-AMERICAN DEVEL BKDTD 04/25/2024 4.850% 07/19/2027 45818WFN1 1,550,000.00 AAA Aaa 10/6/2025 10/8/2025 1,577,884.50 3.79 33,828.75 1,574,387.24 1,571,576.00 Security Type Sub-Total 2,965,000.00 2,988,271.60 4.12 62,374.41 2,987,775.27 2,996,606.94 Federal Agency
FEDERAL FARM CREDIT BANKDTD 07/17/2023 4.625% 07/17/2026 3133EPQC2 1,800,000.00 AA+ Aa1 7/21/2023 7/24/2023 1,803,006.00 4.56 37,925.00 1,800,579.57 1,808,647.20 FEDERAL FARM CREDIT BANKDTD 08/14/2023 4.500% 08/14/2026 3133EPSW6 725,000.00 AA+ Aa1 10/18/2023 10/19/2023 712,972.25 5.14 12,415.63 722,211.77 728,976.63 FEDERAL FARM CREDIT BANKDTD 08/14/2023 4.500% 08/14/2026 3133EPSW6 2,775,000.00 AA+ Aa1 8/9/2023 8/14/2023 2,768,617.50 4.58 47,521.88 2,773,612.92 2,790,220.88 FEDERAL HOME LOAN BANKDTD 08/04/2023 4.625% 09/11/2026
3130AWTQ3 3,000,000.00 AA+ Aa1 9/11/2023 9/12/2023 2,984,760.00 4.80 42,395.83 2,996,279.27 3,020,682.00 FEDERAL HOME LOAN BANKDTD 11/17/2023 4.625% 11/17/2026
3130AXU63 2,790,000.00 AA+ Aa1 11/16/2023 11/17/2023 2,785,061.70 4.69 15,771.25 2,788,486.01 2,813,829.39 FEDERAL HOME LOAN BANKDTD 01/29/2024 4.125% 01/15/2027
3130AYPN0 3,000,000.00 AA+ Aa1 1/30/2024 1/31/2024 2,995,650.00 4.18 57,062.50 2,998,412.42 3,019,206.00 27 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Federal Agency
FEDERAL HOME LOAN BANKDTD 04/11/2024 4.750% 04/09/2027
3130B0TY5 1,730,000.00 AA+ Aa1 4/10/2024 4/11/2024 1,725,432.80 4.85 18,717.64 1,727,983.21 1,759,114.17 FEDERAL HOME LOAN BANKDTD 10/25/2022 4.500% 03/10/2028
3130ATS57 2,000,000.00 AA+ Aa1 3/21/2023 3/22/2023 2,045,140.00 3.99 27,750.00 2,021,008.85 2,041,812.00 FEDERAL HOME LOAN BANKDTD 07/11/2023 4.375% 06/09/2028
3130AWMN7 2,000,000.00 AA+ Aa1 7/26/2023 7/27/2023 2,008,820.00 4.27 5,347.22 2,004,649.03 2,040,706.00 Security Type Sub-Total 19,820,000.00 19,829,460.25 4.52 264,906.95 19,833,223.05 20,023,194.27 Corporate

APPLE INC (CALLABLE)
DTD 02/23/2016 3.250% 02/23/2026
037833BY5 1,000,000.00 AA+ Aaa 5/9/2023 5/11/2023 979,180.00 4.05 11,555.56 998,869.07 998,991.00 REALTY INCOME CORP (CALLABLE)DTD 01/23/2024 3.200% 01/15/2027 756109BZ6 2,124,000.00 A- A3 11/18/2025 11/19/2025 2,101,825.44 4.13 31,340.80 2,104,007.25 2,106,765.86 BANK OF AMERICA CORP(CALLABLE)DTD 01/20/2023 5.080% 01/20/2027 06051GLE7 2,000,000.00 A- A1 1/26/2023 1/30/2023 2,005,260.00 5.01 45,437.78 2,001,496.73 2,000,966.00 UNITEDHEALTH GROUP INC(CALLABLE)DTD 10/28/2022 5.250% 02/15/2028 91324PEP3 1,000,000.00 A+ A2 7/18/2023 7/20/2023 1,029,460.00 4.53 19,833.33 1,014,429.11 1,027,324.00 MORGAN STANLEY (CALLABLE)DTD 04/20/2022 4.210% 04/20/2028 61747YER2 1,500,000.00 A- A1 7/6/2023 7/10/2023 1,423,620.00 5.43 12,454.58 1,460,757.97 1,503,441.00 JPMORGAN CHASE & CO(CALLABLE)DTD 04/25/2017 3.540% 05/01/2028 46647PAF3 1,000,000.00 A A1 7/18/2023 7/20/2023 938,600.00 5.00 5,703.33 968,186.51 994,362.00 NATIONAL SECS CLEARING(CALLABLE)DTD 05/30/2023 5.000% 05/30/2028 637639AK1 800,000.00 AA+ Aa1 11/10/2025 11/12/2025 820,024.00 3.72 3,444.44 818,967.02 818,903.20 NATIONAL SECS CLEARING(CALLABLE)DTD 05/30/2023 5.000% 05/30/2028 637639AK1 775,000.00 AA+ Aa1 11/21/2025 11/24/2025 794,359.50 3.70 3,336.81 793,575.62 793,312.48 BANK OF NY MELLON CORP(CALLABLE)DTD 06/13/2022 3.992% 06/13/2028 06406RBG1 1,500,000.00 A Aa3 7/6/2023 7/10/2023 1,421,775.00 5.21 2,994.00 1,458,618.88 1,500,553.50 28 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
PNC BANK NA (CALLABLE)DTD 07/21/2025 4.429% 07/21/2028
69353RFZ6 825,000.00 A A2 10/7/2025 10/8/2025 830,007.75 4.19 16,239.67 829,383.73 830,518.42 BANK OF AMERICA CORP(CALLABLE)DTD 07/22/2022 4.948% 07/22/2028 06051GKW8 750,000.00 A- A1 9/6/2023 9/8/2023 728,677.50 5.62 16,390.25 738,089.67 760,619.25 BANK OF NY MELLON CORP(CALLABLE)DTD 10/25/2022 5.802% 10/25/2028 06406RBL0 1,000,000.00 A Aa3 5/28/2024 5/29/2024 1,015,460.00 5.40 10,637.00 1,010,296.85 1,033,493.00 PACCAR FINANCIAL CORPDTD 11/07/2025 4.000% 11/07/2028
69371RU20 360,000.00 A+ A1 11/5/2025 11/7/2025 359,798.40 2,160.00 359,808.00 361,683.00 CATERPILLAR FINL SERVICEDTD 11/14/2025 3.950% 11/14/2028 14913UBD1 1,675,000.00 A A2 11/10/2025 11/14/2025 1,674,112.25 8,637.88 1,674,149.63 1,678,937.93

ALPHABET INC (CALLABLE)
DTD 11/06/2025 3.875% 11/15/2028
02079KAV9 200,000.00 AA+ Aa2 11/3/2025 11/6/2025 199,828.00 3.91 1,184.03 199,836.38 200,975.60

ALPHABET INC (CALLABLE)
DTD 11/06/2025 3.875% 11/15/2028
02079KAV9 1,235,000.00 AA+ Aa2 11/4/2025 11/6/2025 1,235,506.35 3.86 7,311.37 1,235,482.05 1,241,024.33

ALPHABET INC (CALLABLE)
DTD 11/06/2025 3.875% 11/15/2028
02079KAV9 250,000.00 AA+ Aa2 11/4/2025 11/6/2025 250,327.50 3.83 1,480.03 250,311.90 251,219.50 CISCO SYSTEMS INC (CALLABLE)DTD 02/26/2024 4.850% 02/26/2029 17275RBR2 1,225,000.00 AA- A1 11/6/2025 11/7/2025 1,256,127.25 4.02 20,629.34 1,254,765.55 1,257,354.70 MERCK & CO INC (CALLABLE)DTD 03/07/2019 3.400% 03/07/2029 58933YAX3 965,000.00 A+ Aa3 11/21/2025 11/24/2025 948,199.35 3.97 10,389.83 948,693.92 949,623.69 KLA CORP (CALLABLE)DTD 03/20/2019 4.100% 03/15/2029
482480AG5 1,683,000.00 A- A2 11/13/2025 11/14/2025 1,684,127.61 4.08 20,317.55 1,684,086.68 1,686,822.09 HOME DEPOT INC (CALLABLE)DTD 12/04/2023 4.900% 04/15/2029 437076CW0 585,000.00 A A2 12/3/2025 12/4/2025 601,877.25 3.97 6,051.50 601,515.45 601,870.82 NATIONAL SECS CLEARING(CALLABLE)DTD 06/26/2024 4.900% 06/26/2029 637639AM7 1,625,000.00 AA+ Aa1 10/28/2025 10/29/2025 1,676,561.25 3.96 1,105.90 1,674,309.60 1,669,058.62 ROCHE HOLDINGS INC (CALLABLE)DTD 09/09/2024 4.203% 09/09/2029 771196CP5 1,250,000.00 AA Aa2 10/10/2025 10/15/2025 1,256,125.00 4.06 16,345.00 1,255,809.77 1,257,677.50

ACCENTURE CAPITAL INC
(CALLABLE)DTD 10/04/2024 4.050% 10/04/2029
00440KAB9 1,250,000.00 AA- Aa3 10/10/2025 10/15/2025 1,250,025.00 4.05 12,234.38 1,250,025.37 1,254,527.50 29 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
MORGAN STANLEY (CALLABLE)DTD 10/22/2025 4.133% 10/18/2029 61748UAK8 600,000.00 A- A1 10/17/2025 10/22/2025 600,000.00 4.13 4,752.95 600,000.00 599,806.80 TRUIST BANK (CALLABLE)DTD 10/23/2025 4.136% 10/23/2029
89788JAH2 850,000.00 A A3 11/7/2025 11/10/2025 847,067.50 4.23 6,640.58 847,165.32 849,351.45 TOYOTA MOTOR CREDIT CORP(CALLABLE)DTD 01/09/2025 4.950% 01/09/2030 89236TNA9 2,000,000.00 A+ A1 1/14/2025 1/15/2025 1,980,780.00 5.17 47,300.00 1,984,119.25 2,059,330.00 JPMORGAN CHASE & CO(CALLABLE)DTD 01/23/2024 5.012% 01/23/2030 46647PEB8 1,250,000.00 A A1 3/26/2025 3/27/2025 1,260,637.50 4.81 27,496.39 1,259,117.47 1,280,875.00 NOVARTIS CAPITAL CORP(CALLABLE)DTD 11/05/2025 4.100% 11/05/2030 66989HAY4 1,490,000.00 AA- Aa3 11/3/2025 11/5/2025 1,485,530.00 4.17 9,502.89 1,485,662.22 1,488,411.66 META PLATFORMS INC (CALLABLE)DTD 11/03/2025 4.200% 11/15/2030 30303MAB8 840,000.00 AA- Aa3 11/7/2025 11/17/2025 842,847.60 4.12 5,684.00 842,784.55 841,774.92

ALPHABET INC (CALLABLE)
DTD 11/06/2025 4.100% 11/15/2030
02079KAW7 840,000.00 AA+ Aa2 11/7/2025 11/17/2025 843,049.20 4.02 5,261.67 842,980.56 842,577.96 NORTHERN TRUST CORPDTD 11/19/2025 4.150% 11/19/2030
665859AY0 335,000.00 A+ A2 11/12/2025 11/19/2025 334,835.85 4.16 1,621.96 334,840.16 335,362.81 NORTHERN TRUST CORPDTD 11/19/2025 4.150% 11/19/2030
665859AY0 1,350,000.00 A+ A2 11/13/2025 11/19/2025 1,348,312.50 4.18 6,536.25 1,348,351.93 1,351,462.05 AMAZON.COM INC (CALLABLE)
DTD 11/20/2025 4.100% 11/20/2030
023135CT1 1,000,000.00 AA A1 11/17/2025 11/20/2025 998,930.00 4.12 4,669.44 998,952.25 1,001,090.00 NATIONAL RURAL UTIL COOP(CALLABLE)DTD 12/10/2025 4.300% 12/10/2030 63743HGC0 605,000.00 NR A2 12/1/2025 12/10/2025 604,431.30 4.32 1,517.54 604,437.46 606,382.43 Security Type Sub-Total 37,737,000.00 37,627,285.85 4.18 408,198.03 37,733,883.88 38,036,450.07 Commercial Paper
CHARLES SCHWAB CORPDTD 11/06/2025 0.000% 05/05/2026
8085A3E50 1,725,000.00 A-2 P-1 11/6/2025 11/7/2025 1,690,434.35 4.03 0.00 1,701,055.08 1,702,559.48 30 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Commercial Paper
BARCLAYS CAPITAL INCDTD 09/10/2025 0.000% 06/05/2026
06743VF54 1,725,000.00 A-1 NR 9/29/2025 9/30/2025 1,677,942.00 3.96 0.00 1,695,588.75 1,696,590.98 Security Type Sub-Total 3,450,000.00 3,368,376.35 4.00 0.00 3,396,643.83 3,399,150.46 Agency CMBS
FHMS K081 A2DTD 10/01/2018 3.900% 08/01/2028
3137FJEH8 800,000.00 AA+ Aa1 7/18/2024 7/23/2024 780,375.00 0.61 2,600.00 787,197.99 800,672.00 FHMS K081 A2DTD 10/01/2018 3.900% 08/01/2028
3137FJEH8 2,000,000.00 AA+ Aa1 5/28/2024 5/31/2024 1,915,625.00 1.03 6,500.00 1,945,583.13 2,001,680.00 FHMS K089 A2DTD 03/01/2019 3.563% 01/01/2029
3137FL6P4 1,100,000.00 AA+ Aa1 10/24/2025 10/29/2025 1,091,062.50 3.84 3,266.08 1,091,299.57 1,090,029.60 FHMS K547 A2DTD 09/01/2025 4.421% 05/01/2030
3137HN6B9 1,060,000.00 AA+ Aa1 9/23/2025 9/29/2025 1,075,867.14 4.06 3,905.22 1,075,327.57 1,074,721.28 FHMS K546 A2DTD 09/01/2025 4.361% 05/01/2030
3137HN4R6 1,045,000.00 AA+ Aa1 9/9/2025 9/18/2025 1,060,660.37 4.01 3,797.70 1,059,789.92 1,057,085.42 FHMS K548 AS FLOATINGDTD 10/16/2025 4.539% 07/25/2030
3137HNN53 1,674,612.76 AA+ Aa1 10/7/2025 10/16/2025 1,674,612.76 4.84 1,540.78 1,674,612.76 1,674,609.41 FHMS K549 AS FLOATINGDTD 11/06/2025 4.385% 07/25/2030
3137HNND6 1,673,817.26 AA+ Aa1 10/29/2025 11/6/2025 1,673,817.26 4.70 1,427.21 1,673,817.26 1,673,141.04 Security Type Sub-Total 9,353,430.02 9,272,020.03 3.34 23,036.99 9,307,628.20 9,371,938.75 ABS
JDOT 2022-B A3DTD 07/20/2022 3.740% 02/16/2027
47800AAC4 63,542.52 NR Aaa 7/12/2022 7/20/2022 63,536.45 3.74 105.62 63,540.98 63,519.01 HALST 2024-A A3DTD 01/24/2024 5.020% 03/15/2027
448988AD7 403,100.45 AAA NR 1/17/2024 1/24/2024 403,024.06 5.03 899.36 403,069.86 403,957.84 GMALT 2024-1 A3DTD 02/15/2024 5.090% 03/22/2027
36269FAD8 319,383.11 AAA NR 2/8/2024 2/15/2024 319,343.19 5.09 496.73 319,367.63 320,104.60 HART 2023-A A3DTD 04/12/2023 4.580% 04/15/2027
448979AD6 130,804.68 AAA NR 4/4/2023 4/12/2023 130,791.91 4.58 266.26 130,800.43 130,915.34 TLOT 2024-A A3DTD 02/27/2024 5.250% 04/20/2027
89238GAD3 230,056.77 AAA NR 2/21/2024 2/27/2024 230,047.06 5.29 369.05 229,950.71 230,897.40 31 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
HAROT 2023-1 A3DTD 02/24/2023 5.040% 04/21/2027
43815JAC7 97,918.18 NR Aaa 2/16/2023 2/24/2023 97,899.99 5.04 137.09 97,912.13 98,143.00 JDOT 2022-C A3DTD 10/19/2022 5.090% 06/15/2027
47800BAC2 201,441.12 NR Aaa 10/12/2022 10/19/2022 201,425.48 5.09 455.70 201,436.04 201,931.63 GMALT 2024-2 A3DTD 05/16/2024 5.390% 07/20/2027
36269WAD1 630,354.61 AAA NR 5/7/2024 5/16/2024 630,317.99 5.39 1,038.16 630,336.81 632,977.52 JDOT 2023-A A3DTD 03/02/2023 5.010% 11/15/2027
47800CAC0 308,762.73 NR Aaa 2/22/2023 3/2/2023 308,706.47 5.01 687.51 308,739.05 310,183.34 MBART 2023-1 A3DTD 01/25/2023 4.510% 11/15/2027
58770AAC7 131,581.94 AAA NR 1/18/2023 1/25/2023 131,566.15 4.51 263.75 131,575.57 131,801.68 MBALT 2024-A A3DTD 05/23/2024 5.320% 01/18/2028
58770JAD6 500,000.00 NR Aaa 5/17/2024 5/23/2024 499,941.50 5.32 1,182.22 499,966.13 504,858.50 GMCAR 2023-2 A3DTD 04/12/2023 4.470% 02/16/2028
362583AD8 226,336.88 AAA Aaa 4/4/2023 4/12/2023 226,330.65 4.47 421.55 226,334.13 226,732.06 TLOT 2025-A A3DTD 02/26/2025 4.750% 02/22/2028
89239NAD7 1,265,000.00 AAA Aaa 2/20/2025 2/26/2025 1,264,983.43 4.75 1,836.01 1,264,989.72 1,277,092.14 BMWOT 2023-A A3DTD 07/18/2023 5.470% 02/25/2028
05592XAD2 144,306.26 AAA NR 7/11/2023 7/18/2023 144,280.69 5.47 131.56 144,293.70 145,176.72 AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
02582JJZ4 625,000.00 AAA NR 6/7/2023 6/14/2023 624,944.56 4.87 1,352.78 624,972.05 627,286.25 HAROT 2023-4 A3DTD 11/08/2023 5.670% 06/21/2028
438123AC5 297,650.63 NR Aaa 11/1/2023 11/8/2023 297,598.22 5.67 468.80 297,621.18 300,898.90 TAOT 2023-D A3DTD 11/14/2023 5.540% 08/15/2028
89239FAD4 532,890.96 AAA NR 11/7/2023 11/14/2023 532,833.51 5.54 1,312.10 532,858.52 538,760.22 CHAIT 2023-A1 ADTD 09/15/2023 5.160% 09/15/2028
161571HT4 2,025,000.00 AAA NR 9/7/2023 9/15/2023 2,024,438.67 5.17 4,644.00 2,024,678.52 2,044,057.28 JDOT 2024-A A3DTD 03/19/2024 4.960% 11/15/2028
47800RAD5 360,000.00 NR Aaa 3/11/2024 3/19/2024 359,979.84 4.97 793.60 359,859.60 363,154.68 HAROT 2024-2 A3DTD 05/21/2024 5.270% 11/20/2028
437930AC4 635,567.30 AAA NR 5/14/2024 5/21/2024 635,490.08 5.27 1,209.52 635,516.36 643,254.49 TLOT 2025-B A3DTD 09/17/2025 3.960% 11/20/2028
89240NAD4 735,000.00 NR Aaa 9/9/2025 9/17/2025 734,868.44 3.97 889.35 734,879.92 736,811.04 GMCAR 2024-1 A3DTD 01/17/2024 4.850% 12/18/2028
36268GAD7 240,403.30 NR Aaa 1/9/2024 1/17/2024 240,354.95 4.85 485.82 240,372.83 241,870.24 32 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
CHAIT 2024-A1 ADTD 01/31/2024 4.600% 01/15/2029
161571HV9 1,245,000.00 AAA NR 1/24/2024 1/31/2024 1,244,810.39 4.60 2,545.33 1,244,880.17 1,256,153.96 HART 2024-A A3DTD 03/20/2024 4.990% 02/15/2029
448973AD9 763,020.74 AAA NR 3/20/2024 3/20/2024 762,852.50 5.00 1,692.21 762,910.66 769,551.43 BMWOT 2024-A A3DTD 06/11/2024 5.180% 02/26/2029
096919AD7 891,979.96 AAA Aaa 6/4/2024 6/11/2024 891,844.46 5.18 770.08 891,886.74 900,121.06 HART 2024-B A3DTD 07/24/2024 4.840% 03/15/2029
44934QAD3 570,000.00 AAA NR 7/16/2024 7/24/2024 569,913.99 4.84 1,226.13 569,939.19 576,374.88 AMXCA 2024-1 A
DTD 04/23/2024 5.230% 04/16/2029
02582JKH2 1,520,000.00 AAA NR 4/16/2024 4/23/2024 1,519,688.40 5.23 3,533.16 1,519,789.01 1,548,732.56 BACCT 2024-A1 ADTD 06/13/2024 4.930% 05/15/2029
05522RDJ4 1,020,000.00 AAA Aaa 6/6/2024 6/13/2024 1,019,942.78 4.93 2,234.93 1,019,962.04 1,035,979.32 BMWLT 2025-2 A4DTD 10/15/2025 4.030% 05/25/2029
05594HAE3 805,000.00 AAA NR 10/8/2025 10/15/2025 804,980.20 4.03 540.69 804,982.12 807,176.72 USAOT 2025-A A3DTD 10/09/2025 3.950% 12/17/2029
90327HAC3 380,000.00 AAA Aaa 10/2/2025 10/9/2025 379,966.64 3.95 667.11 379,969.39 380,945.82 ALLYA 2025-1 A3
DTD 10/16/2025 3.960% 03/15/2030
02008KAC7 345,000.00 AAA NR 10/7/2025 10/16/2025 344,950.73 3.96 607.20 344,953.30 346,059.15 HART 2025-C A3DTD 09/17/2025 3.880% 04/15/2030
44935JAD8 810,000.00 AAA NR 9/9/2025 9/17/2025 809,867.81 3.88 1,396.80 809,878.58 811,693.71 FORDO 2025-B A3DTD 09/26/2025 3.910% 04/15/2030
34532BAG6 655,000.00 NR Aaa 9/23/2025 9/26/2025 654,929.33 3.91 1,138.24 654,935.44 657,315.43 COPAR 2025-1 A3DTD 11/05/2025 3.850% 07/15/2030
14043YAD7 385,000.00 AAA NR 10/28/2025 11/5/2025 384,918.46 3.85 658.78 384,921.56 385,179.02 COMET 2025-A1 ADTD 09/16/2025 3.820% 09/15/2030
14041NGF2 1,015,000.00 AAA NR 9/9/2025 9/16/2025 1,014,807.56 3.82 1,723.24 1,014,821.05 1,015,581.60 CHAOT 2025-2A A3DTD 10/29/2025 3.860% 10/25/2030
16144MAD6 800,000.00 NR Aaa 10/17/2025 10/29/2025 799,968.32 3.86 514.67 799,971.91 800,588.80 Security Type Sub-Total 21,309,102.13 21,306,144.86 4.73 38,695.11 21,306,873.03 21,465,837.34 Managed Account Sub Total 160,284,532.15 159,306,961.12 1,320,067.00 160,968,330.84Securities Sub TotalAccrued Interest $160,284,532.15 $159,306,961.12 $1,320,067.00 $160,968,330.84 $1,320,067.00
159,888,174.51
$159,888,174.51

4.16 4.16%
33 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Holdings
Total Investments $162,288,397.84
34 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
BUY10/1/2025 10/6/2025 3,500,000.00 91282CHW4 US TREASURY N/B 4.12% 8/31/2030 3,583,400.70 3.68%10/2/2025 10/9/2025 380,000.00 90327HAC3 USAOT 2025-A A3 3.95% 12/17/2029 379,966.64 3.95%10/6/2025 10/8/2025 1,550,000.00 45818WFN1 INTER-AMERICAN DEVEL BK 4.85% 7/19/2027 1,594,381.24 3.79%10/7/2025 10/8/2025 825,000.00 69353RFZ6 PNC BANK NA (CALLABLE) 4.42% 7/21/2028 837,823.09 4.19%10/7/2025 10/16/2025 1,675,000.00 3137HNN53 FHMS K548 AS FLOATING 4.53% 7/25/2030 1,675,000.0010/7/2025 10/16/2025 345,000.00 02008KAC7 ALLYA 2025-1 A3 3.96% 3/15/2030 344,950.73 3.96%10/8/2025 10/15/2025 805,000.00 05594HAE3 BMWLT 2025-2 A4 4.03% 5/25/2029 804,980.20 4.03%10/10/2025 10/15/2025 1,250,000.00 00440KAB9 ACCENTURE CAPITAL INC (CALLABLE) 4.05% 10/4/2029 1,251,571.88 4.05%10/10/2025 10/15/2025 1,250,000.00 771196CP5 ROCHE HOLDINGS INC (CALLABLE) 4.20% 9/9/2029 1,261,378.75 4.06%10/17/2025 10/22/2025 600,000.00 61748UAK8 MORGAN STANLEY (CALLABLE) 4.13% 10/18/2029 600,000.00 4.13%10/17/2025 10/29/2025 800,000.00 16144MAD6 CHAOT 2025-2A A3 3.86% 10/25/2030 799,968.32 3.86%10/24/2025 10/29/2025 1,100,000.00 3137FL6P4 FHMS K089 A2 3.56% 1/1/2029 1,094,110.84 3.84%10/28/2025 10/29/2025 1,625,000.00 637639AM7 NATIONAL SECS CLEARING (CALLABLE) 4.90% 6/26/2029 1,703,766.46 3.96%10/28/2025 11/5/2025 385,000.00 14043YAD7 COPAR 2025-1 A3 3.85% 7/15/2030 384,918.46 3.85%10/29/2025 11/6/2025 1,675,000.00 3137HNND6 FHMS K549 AS FLOATING 4.38% 7/25/2030 1,675,000.00 4.71%11/3/2025 11/5/2025 1,490,000.00 66989HAY4 NOVARTIS CAPITAL CORP (CALLABLE) 4.10% 11/5/2030 1,485,530.00 4.17%11/3/2025 11/6/2025 200,000.00 02079KAV9 ALPHABET INC (CALLABLE) 3.87% 11/15/2028 199,828.00 3.91% 35 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
BUY11/3/2025 11/6/2025 3,250,000.00 91282CGJ4 US TREASURY N/B 3.50% 1/31/2030 3,256,551.89 3.69%11/4/2025 11/6/2025 1,235,000.00 02079KAV9 ALPHABET INC (CALLABLE) 3.87% 11/15/2028 1,235,506.35 3.86%11/4/2025 11/6/2025 250,000.00 02079KAV9 ALPHABET INC (CALLABLE) 3.87% 11/15/2028 250,327.50 3.83%11/5/2025 11/7/2025 360,000.00 69371RU20 PACCAR FINANCIAL CORP 4.00% 11/7/2028 359,798.40 4.02%11/6/2025 11/7/2025 1,225,000.00 17275RBR2 CISCO SYSTEMS INC (CALLABLE) 4.85% 2/26/2029 1,267,844.72 4.02%11/6/2025 11/7/2025 1,260,000.00 20030NCT6 COMCAST CORP (CALLABLE) 4.15% 10/15/2028 1,264,946.90 4.10%11/6/2025 11/7/2025 1,725,000.00 8085A3E50 CHARLES SCHWAB CORP 0.00% 5/5/2026 1,690,434.35 4.03%11/7/2025 11/10/2025 850,000.00 89788JAH2 TRUIST BANK (CALLABLE) 4.13% 10/23/2029 848,727.64 4.23%11/7/2025 11/17/2025 840,000.00 30303MAB8 META PLATFORMS INC (CALLABLE) 4.20% 11/15/2030 844,219.60 4.12%11/7/2025 11/17/2025 840,000.00 02079KAW7 ALPHABET INC (CALLABLE) 4.10% 11/15/2030 844,101.53 4.02%11/10/2025 11/12/2025 800,000.00 637639AK1 NATIONAL SECS CLEARING (CALLABLE) 5.00% 5/30/2028 838,024.00 3.72%11/10/2025 11/14/2025 1,675,000.00 14913UBD1 CATERPILLAR FINL SERVICE 3.95% 11/14/2028 1,674,112.25 3.97%11/12/2025 11/19/2025 335,000.00 665859AY0 NORTHERN TRUST CORP 4.15% 11/19/2030 334,835.85 4.16%11/13/2025 11/19/2025 1,350,000.00 665859AY0 NORTHERN TRUST CORP 4.15% 11/19/2030 1,348,312.50 4.18%11/13/2025 11/14/2025 1,683,000.00 482480AG5 KLA CORP (CALLABLE) 4.10% 3/15/2029 1,695,436.44 4.08%11/17/2025 11/20/2025 1,000,000.00 023135CT1 AMAZON.COM INC (CALLABLE) 4.10% 11/20/2030 998,930.00 4.12%11/18/2025 11/19/2025 2,124,000.00 756109BZ6 REALTY INCOME CORP (CALLABLE) 3.20% 1/15/2027 2,125,236.64 4.13% 36 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
BUY11/21/2025 11/24/2025 965,000.00 58933YAX3 MERCK & CO INC (CALLABLE) 3.40% 3/7/2029 955,217.04 3.97%11/21/2025 11/24/2025 775,000.00 637639AK1 NATIONAL SECS CLEARING (CALLABLE) 5.00% 5/30/2028 813,088.67 3.70%12/1/2025 12/4/2025 2,000,000.00 91282CPD7 US TREASURY N/B 3.62% 10/31/2030 2,007,668.77 3.61%12/1/2025 12/10/2025 605,000.00 63743HGC0 NATIONAL RURAL UTIL COOP (CALLABLE) 4.30% 12/10/2030 604,431.30 4.32%12/2/2025 12/3/2025 1,265,000.00 91282CPC9 US TREASURY N/B 3.50% 10/15/2028 1,269,675.33 3.54%12/3/2025 12/4/2025 585,000.00 437076CW0 HOME DEPOT INC (CALLABLE) 4.90% 4/15/2029 605,778.88 3.97% Total BUY 46,452,000.00 46,809,781.86 0.00
INTEREST10/1/2025 10/1/2025 MONEY0002 MONEY MARKET FUND 0.00% 6,569.5910/1/2025 10/25/2025 3137HN4R6 FHMS K546 A2 4.36% 5/1/2030 3,797.7010/1/2025 10/25/2025 3137HN6B9 FHMS K547 A2 4.42% 5/1/2030 3,905.2210/1/2025 10/25/2025 3137FJEH8 FHMS K081 A2 3.90% 8/1/2028 9,100.0010/9/2025 10/9/2025 3130B0TY5 FEDERAL HOME LOAN BANK 4.75% 4/9/2027 41,087.5010/15/2025 10/15/2025 02582JKH2 AMXCA 2024-1 A 5.23% 4/16/2029 6,624.6710/15/2025 10/15/2025 05522RDJ4 BACCT 2024-A1 A 4.93% 5/15/2029 4,190.5010/15/2025 10/15/2025 47800CAC0 JDOT 2023-A A3 5.01% 11/15/2027 1,904.0910/15/2025 10/15/2025 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 720.20 37 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST10/15/2025 10/15/2025 448973AD9 HART 2024-A A3 4.99% 2/15/2029 3,181.1210/15/2025 10/15/2025 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 8,707.5010/15/2025 10/15/2025 47800AAC4 JDOT 2022-B A3 3.74% 2/16/2027 371.6210/15/2025 10/15/2025 448979AD6 HART 2023-A A3 4.58% 4/15/2027 967.3010/15/2025 10/15/2025 89238FAD5 TAOT 2022-B A3 2.93% 9/15/2026 35.1110/15/2025 10/15/2025 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 2,959.1610/15/2025 10/15/2025 44934QAD3 HART 2024-B A3 4.84% 3/15/2029 2,299.0010/15/2025 10/15/2025 47787JAC2 JDOT 2022-A A3 2.32% 9/15/2026 21.8910/15/2025 10/15/2025 34532BAG6 FORDO 2025-B A3 3.91% 4/15/2030 1,351.6710/15/2025 10/15/2025 448988AD7 HALST 2024-A A3 5.02% 3/15/2027 2,656.2410/15/2025 10/15/2025 58770JAD6 MBALT 2024-A A3 5.32% 1/18/2028 2,216.6710/15/2025 10/15/2025 47800RAD5 JDOT 2024-A A3 4.96% 11/15/2028 1,488.0010/15/2025 10/15/2025 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 2,536.4610/15/2025 10/15/2025 47800BAC2 JDOT 2022-C A3 5.09% 6/15/2027 1,239.3610/15/2025 10/15/2025 44935JAD8 HART 2025-C A3 3.88% 4/15/2030 2,444.4010/15/2025 10/15/2025 161571HV9 CHAIT 2024-A1 A 4.60% 1/15/2029 4,772.5010/15/2025 10/15/2025 91282CKJ9 US TREASURY N/B 4.50% 4/15/2027 67,500.00 38 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST10/16/2025 10/16/2025 362585AC5 GMCAR 2022-2 A3 3.10% 2/16/2027 78.9910/16/2025 10/16/2025 362583AD8 GMCAR 2023-2 A3 4.47% 2/16/2028 1,149.6110/16/2025 10/16/2025 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 1,172.0810/18/2025 10/18/2025 437930AC4 HAROT 2024-2 A3 5.27% 11/20/2028 2,876.5410/20/2025 10/20/2025 36269WAD1 GMALT 2024-2 A3 5.39% 7/20/2027 3,099.2510/20/2025 10/20/2025 89238GAD3 TLOT 2024-A A3 5.25% 4/20/2027 1,713.2510/20/2025 10/20/2025 89240NAD4 TLOT 2025-B A3 3.96% 11/20/2028 2,668.0510/20/2025 10/20/2025 61747YER2 MORGAN STANLEY (CALLABLE) 4.21% 4/20/2028 31,575.0010/20/2025 10/20/2025 36269FAD8 GMALT 2024-1 A3 5.09% 3/22/2027 2,284.7610/20/2025 10/20/2025 89239NAD7 TLOT 2025-A A3 4.75% 2/22/2028 5,007.2910/21/2025 10/21/2025 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 1,736.9910/21/2025 10/21/2025 43815JAC7 HAROT 2023-1 A3 5.04% 4/21/2027 676.8510/25/2025 10/25/2025 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 897.2110/25/2025 10/25/2025 096919AD7 BMWOT 2024-A A3 5.18% 2/26/2029 3,906.5810/25/2025 10/25/2025 06406RBL0 BANK OF NY MELLON CORP (CALLABLE) 5.80% 10/25/2028 29,010.0011/1/2025 11/25/2025 3137HN4R6 FHMS K546 A2 4.36% 5/1/2030 3,797.7011/1/2025 11/25/2025 3137FL6P4 FHMS K089 A2 3.56% 1/1/2029 3,266.08 39 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST11/1/2025 11/25/2025 3137FJEH8 FHMS K081 A2 3.90% 8/1/2028 9,100.0011/1/2025 11/25/2025 3137HN6B9 FHMS K547 A2 4.42% 5/1/2030 3,905.2211/3/2025 11/3/2025 46647PAF3 JPMORGAN CHASE & CO (CALLABLE) 3.54% 5/1/2028 17,700.0011/3/2025 11/3/2025 MONEY0002 MONEY MARKET FUND 0.00% 4,447.4011/15/2025 11/15/2025 448988AD7 HALST 2024-A A3 5.02% 3/15/2027 2,303.9311/15/2025 11/15/2025 02008KAC7 ALLYA 2025-1 A3 3.96% 3/15/2030 1,100.5511/15/2025 11/15/2025 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 639.7211/15/2025 11/15/2025 912828X88 US TREASURY N/B 2.37% 5/15/2027 35,625.0011/15/2025 11/15/2025 05522RDJ4 BACCT 2024-A1 A 4.93% 5/15/2029 4,190.5011/15/2025 11/15/2025 58770JAD6 MBALT 2024-A A3 5.32% 1/18/2028 2,216.6711/15/2025 11/15/2025 34532BAG6 FORDO 2025-B A3 3.91% 4/15/2030 2,134.2111/15/2025 11/15/2025 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 2,782.1811/15/2025 11/15/2025 14041NGF2 COMET 2025-A1 A 3.82% 9/15/2030 6,354.4611/15/2025 11/15/2025 44934QAD3 HART 2024-B A3 4.84% 3/15/2029 2,299.0011/15/2025 11/15/2025 161571HV9 CHAIT 2024-A1 A 4.60% 1/15/2029 4,772.5011/15/2025 11/15/2025 90327HAC3 USAOT 2025-A A3 3.95% 12/17/2029 1,584.3911/15/2025 11/15/2025 47800AAC4 JDOT 2022-B A3 3.74% 2/16/2027 305.67 40 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST11/15/2025 11/15/2025 47800CAC0 JDOT 2023-A A3 5.01% 11/15/2027 1,690.5811/15/2025 11/15/2025 91324PEC2 UNITEDHEALTH GROUP INC (CALLABLE) 1.15% 5/15/2026 9,775.0011/15/2025 11/15/2025 47800BAC2 JDOT 2022-C A3 5.09% 6/15/2027 1,097.6411/15/2025 11/15/2025 47800RAD5 JDOT 2024-A A3 4.96% 11/15/2028 1,488.0011/15/2025 11/15/2025 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 8,707.5011/15/2025 11/15/2025 89238FAD5 TAOT 2022-B A3 2.93% 9/15/2026 0.8911/15/2025 11/15/2025 44935JAD8 HART 2025-C A3 3.88% 4/15/2030 2,619.0011/15/2025 11/15/2025 448979AD6 HART 2023-A A3 4.58% 4/15/2027 804.4511/15/2025 11/15/2025 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 2,536.4611/15/2025 11/15/2025 448973AD9 HART 2024-A A3 4.99% 2/15/2029 3,181.1211/15/2025 11/15/2025 912828U24 US TREASURY N/B 2.00% 11/15/2026 20,000.0011/15/2025 11/15/2025 9128286T2 US TREASURY N/B 2.37% 5/15/2029 29,687.5011/15/2025 11/15/2025 02582JKH2 AMXCA 2024-1 A 5.23% 4/16/2029 6,624.6711/16/2025 11/16/2025 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 1,103.7611/16/2025 11/16/2025 362585AC5 GMCAR 2022-2 A3 3.10% 2/16/2027 48.2011/16/2025 11/16/2025 362583AD8 GMCAR 2023-2 A3 4.47% 2/16/2028 1,042.0611/17/2025 11/17/2025 3130AXU63 FEDERAL HOME LOAN BANK 4.62% 11/17/2026 64,518.75 41 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST11/17/2025 11/17/2025 58933YBH7 MERCK & CO INC (CALLABLE) 4.05% 5/17/2028 30,375.0011/18/2025 11/18/2025 437930AC4 HAROT 2024-2 A3 5.27% 11/20/2028 2,876.5411/20/2025 11/20/2025 89239NAD7 TLOT 2025-A A3 4.75% 2/22/2028 5,007.2911/20/2025 11/20/2025 89240NAD4 TLOT 2025-B A3 3.96% 11/20/2028 2,425.5011/20/2025 11/20/2025 36269WAD1 GMALT 2024-2 A3 5.39% 7/20/2027 3,099.2511/20/2025 11/20/2025 89238GAD3 TLOT 2024-A A3 5.25% 4/20/2027 1,453.6711/20/2025 11/20/2025 36269FAD8 GMALT 2024-1 A3 5.09% 3/22/2027 1,956.9611/21/2025 11/21/2025 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 1,620.6411/21/2025 11/21/2025 43815JAC7 HAROT 2023-1 A3 5.04% 4/21/2027 581.9111/25/2025 11/25/2025 05594HAE3 BMWLT 2025-2 A4 4.03% 5/25/2029 3,604.6111/25/2025 11/25/2025 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 812.1811/25/2025 11/25/2025 16144MAD6 CHAOT 2025-2A A3 3.86% 10/25/2030 2,230.2211/25/2025 11/25/2025 3137HNN53 FHMS K548 AS FLOATING 4.53% 7/25/2030 9,003.2611/25/2025 11/25/2025 096919AD7 BMWOT 2024-A A3 5.18% 2/26/2029 3,906.5811/30/2025 11/30/2025 91282CMA6 US TREASURY N/B 4.12% 11/30/2029 51,562.5011/30/2025 11/30/2025 91282CNG2 US TREASURY N/B 4.00% 5/31/2030 38,000.0011/30/2025 11/30/2025 91282CHE4 US TREASURY N/B 3.62% 5/31/2028 21,025.00 42 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST11/30/2025 11/30/2025 91282CFZ9 US TREASURY N/B 3.87% 11/30/2027 58,125.0011/30/2025 11/30/2025 637639AK1 NATIONAL SECS CLEARING (CALLABLE) 5.00% 5/30/2028 39,375.0012/1/2025 12/1/2025 MONEY0002 MONEY MARKET FUND 0.00% 4,701.6512/1/2025 12/25/2025 3137HN4R6 FHMS K546 A2 4.36% 5/1/2030 3,797.7012/1/2025 12/25/2025 3137FL6P4 FHMS K089 A2 3.56% 1/1/2029 3,266.0812/1/2025 12/25/2025 3137HN6B9 FHMS K547 A2 4.42% 5/1/2030 3,905.2212/1/2025 12/25/2025 3137FJEH8 FHMS K081 A2 3.90% 8/1/2028 9,100.0012/9/2025 12/9/2025 3130AWMN7 FEDERAL HOME LOAN BANK 4.37% 6/9/2028 43,750.0012/13/2025 12/13/2025 06406RBG1 BANK OF NY MELLON CORP (CALLABLE) 3.99% 6/13/2028 29,940.0012/15/2025 12/15/2025 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 8,707.5012/15/2025 12/15/2025 91282CJP7 US TREASURY N/B 4.37% 12/15/2026 41,562.5012/15/2025 12/15/2025 47800AAC4 JDOT 2022-B A3 3.74% 2/16/2027 238.2912/15/2025 12/15/2025 14041NGF2 COMET 2025-A1 A 3.82% 9/15/2030 3,231.0812/15/2025 12/15/2025 34532BAG6 FORDO 2025-B A3 3.91% 4/15/2030 2,134.2112/15/2025 12/15/2025 44934QAD3 HART 2024-B A3 4.84% 3/15/2029 2,299.0012/15/2025 12/15/2025 47800BAC2 JDOT 2022-C A3 5.09% 6/15/2027 944.5912/15/2025 12/15/2025 448979AD6 HART 2023-A A3 4.58% 4/15/2027 646.01 43 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST12/15/2025 12/15/2025 448973AD9 HART 2024-A A3 4.99% 2/15/2029 3,181.1212/15/2025 12/15/2025 47800RAD5 JDOT 2024-A A3 4.96% 11/15/2028 1,488.0012/15/2025 12/15/2025 161571HV9 CHAIT 2024-A1 A 4.60% 1/15/2029 4,772.5012/15/2025 12/15/2025 90327HAC3 USAOT 2025-A A3 3.95% 12/17/2029 1,250.8312/15/2025 12/15/2025 448988AD7 HALST 2024-A A3 5.02% 3/15/2027 1,961.4012/15/2025 12/15/2025 14043YAD7 COPAR 2025-1 A3 3.85% 7/15/2030 1,646.9412/15/2025 12/15/2025 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 560.2812/15/2025 12/15/2025 47800CAC0 JDOT 2023-A A3 5.01% 11/15/2027 1,431.3512/15/2025 12/15/2025 02582JKH2 AMXCA 2024-1 A 5.23% 4/16/2029 6,624.6712/15/2025 12/15/2025 05522RDJ4 BACCT 2024-A1 A 4.93% 5/15/2029 4,190.5012/15/2025 12/15/2025 02008KAC7 ALLYA 2025-1 A3 3.96% 3/15/2030 1,138.5012/15/2025 12/15/2025 58770JAD6 MBALT 2024-A A3 5.32% 1/18/2028 2,216.6712/15/2025 12/15/2025 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 2,611.5612/15/2025 12/15/2025 44935JAD8 HART 2025-C A3 3.88% 4/15/2030 2,619.0012/15/2025 12/15/2025 02582JJZ4 AMXCA 2023-1 A 4.87% 5/15/2028 2,536.4612/16/2025 12/16/2025 362583AD8 GMCAR 2023-2 A3 4.47% 2/16/2028 933.1112/16/2025 12/16/2025 362585AC5 GMCAR 2022-2 A3 3.10% 2/16/2027 16.17 44 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST12/16/2025 12/16/2025 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 1,036.8412/18/2025 12/18/2025 437930AC4 HAROT 2024-2 A3 5.27% 11/20/2028 2,876.5412/20/2025 12/20/2025 89239NAD7 TLOT 2025-A A3 4.75% 2/22/2028 5,007.2912/20/2025 12/20/2025 89240NAD4 TLOT 2025-B A3 3.96% 11/20/2028 2,425.5012/20/2025 12/20/2025 89238GAD3 TLOT 2024-A A3 5.25% 4/20/2027 1,215.5612/20/2025 12/20/2025 36269WAD1 GMALT 2024-2 A3 5.39% 7/20/2027 3,071.3712/20/2025 12/20/2025 36269FAD8 GMALT 2024-1 A3 5.09% 3/22/2027 1,615.0712/21/2025 12/21/2025 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 1,506.8012/21/2025 12/21/2025 43815JAC7 HAROT 2023-1 A3 5.04% 4/21/2027 491.1512/25/2025 12/25/2025 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 729.3412/25/2025 12/25/2025 16144MAD6 CHAOT 2025-2A A3 3.86% 10/25/2030 2,573.3312/25/2025 12/25/2025 096919AD7 BMWOT 2024-A A3 5.18% 2/26/2029 3,906.5812/25/2025 12/25/2025 05594HAE3 BMWLT 2025-2 A4 4.03% 5/25/2029 2,703.4612/26/2025 12/26/2025 3137HNND6 FHMS K549 AS FLOATING 4.38% 7/25/2030 10,765.1612/26/2025 12/26/2025 3137HNN53 FHMS K548 AS FLOATING 4.53% 7/25/2030 6,604.1712/26/2025 12/26/2025 637639AM7 NATIONAL SECS CLEARING (CALLABLE) 4.90% 6/26/2029 39,812.5012/31/2025 12/31/2025 91282CNK3 US TREASURY N/B 3.87% 6/30/2030 6,781.25 45 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST12/31/2025 12/31/2025 91282CHK0 US TREASURY N/B 4.00% 6/30/2028 50,000.0012/31/2025 12/31/2025 91282CKX8 US TREASURY N/B 4.25% 6/30/2029 53,125.0012/31/2025 12/31/2025 91282CEV9 US TREASURY N/B 3.25% 6/30/2029 21,125.00 Total INTEREST 0.00 1,225,766.59 0.00
PAYDOWNS10/15/2025 10/15/2025 84,216.83 448988AD7 HALST 2024-A A3 5.02% 3/15/2027 84,216.83 7.4710/15/2025 10/15/2025 42,668.72 448979AD6 HART 2023-A A3 4.58% 4/15/2027 42,668.72 1.6110/15/2025 10/15/2025 21,414.55 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 21,414.55 1.1510/15/2025 10/15/2025 14,017.38 89238FAD5 TAOT 2022-B A3 2.93% 9/15/2026 14,017.38 0.0610/15/2025 10/15/2025 51,140.16 47800CAC0 JDOT 2023-A A3 5.01% 11/15/2027 51,140.16 4.3410/15/2025 10/15/2025 11,321.45 47787JAC2 JDOT 2022-A A3 2.32% 9/15/2026 11,321.45 0.5210/15/2025 10/15/2025 33,409.89 47800BAC2 JDOT 2022-C A3 5.09% 6/15/2027 33,409.89 0.9610/15/2025 10/15/2025 21,159.45 47800AAC4 JDOT 2022-B A3 3.74% 2/16/2027 21,159.45 0.6110/15/2025 10/15/2025 38,336.20 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 38,336.20 2.5110/16/2025 10/16/2025 28,872.47 362583AD8 GMCAR 2023-2 A3 4.47% 2/16/2028 28,872.47 0.3810/16/2025 10/16/2025 11,917.74 362585AC5 GMCAR 2022-2 A3 3.10% 2/16/2027 11,917.74 0.7210/16/2025 10/16/2025 16,904.76 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 16,904.76 2.28 46 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS10/20/2025 10/20/2025 59,331.38 89238GAD3 TLOT 2024-A A3 5.25% 4/20/2027 59,331.38 31.3310/20/2025 10/20/2025 77,282.76 36269FAD8 GMALT 2024-1 A3 5.09% 3/22/2027 77,282.76 4.3710/21/2025 10/21/2025 22,604.74 43815JAC7 HAROT 2023-1 A3 5.04% 4/21/2027 22,604.74 1.6010/21/2025 10/21/2025 24,624.78 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 24,624.78 2.6210/25/2025 10/25/2025 18,653.99 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 18,653.99 1.7511/15/2025 11/15/2025 81,878.84 448988AD7 HALST 2024-A A3 5.02% 3/15/2027 81,878.84 6.8511/15/2025 11/15/2025 36,956.80 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 36,956.80 2.3511/15/2025 11/15/2025 363.98 89238FAD5 TAOT 2022-B A3 2.93% 9/15/2026 363.9811/15/2025 11/15/2025 41,511.35 448979AD6 HART 2023-A A3 4.58% 4/15/2027 41,511.35 1.4811/15/2025 11/15/2025 21,136.42 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 21,136.42 1.0911/15/2025 11/15/2025 62,092.18 47800CAC0 JDOT 2023-A A3 5.01% 11/15/2027 62,092.18 5.0711/15/2025 11/15/2025 36,084.25 47800BAC2 JDOT 2022-C A3 5.09% 6/15/2027 36,084.25 0.9811/15/2025 11/15/2025 21,619.65 47800AAC4 JDOT 2022-B A3 3.74% 2/16/2027 21,619.65 0.5811/16/2025 11/16/2025 29,249.32 362583AD8 GMCAR 2023-2 A3 4.47% 2/16/2028 29,249.32 0.3711/16/2025 11/16/2025 12,397.55 362585AC5 GMCAR 2022-2 A3 3.10% 2/16/2027 12,397.55 0.7011/16/2025 11/16/2025 16,556.90 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 16,556.90 2.1811/20/2025 11/20/2025 54,424.38 89238GAD3 TLOT 2024-A A3 5.25% 4/20/2027 54,424.38 27.20 47 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS11/20/2025 11/20/2025 6,207.91 36269WAD1 GMALT 2024-2 A3 5.39% 7/20/2027 6,207.91 0.1911/20/2025 11/20/2025 80,601.96 36269FAD8 GMALT 2024-1 A3 5.09% 3/22/2027 80,601.96 4.2911/21/2025 11/21/2025 24,094.04 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 24,094.04 2.4811/21/2025 11/21/2025 21,609.27 43815JAC7 HAROT 2023-1 A3 5.04% 4/21/2027 21,609.27 1.4411/25/2025 11/25/2025 177.22 3137HNN53 FHMS K548 AS FLOATING 4.53% 7/25/2030 177.2211/25/2025 11/25/2025 18,174.46 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 18,174.46 1.6512/15/2025 12/15/2025 65,761.03 448988AD7 HALST 2024-A A3 5.02% 3/15/2027 65,761.03 5.1712/15/2025 12/15/2025 1,979.26 448973AD9 HART 2024-A A3 4.99% 2/15/2029 1,979.26 0.2912/15/2025 12/15/2025 32,790.32 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 32,790.32 2.0312/15/2025 12/15/2025 12,914.13 47800AAC4 JDOT 2022-B A3 3.74% 2/16/2027 12,914.13 0.3212/15/2025 12/15/2025 17,494.37 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 17,494.37 0.8712/15/2025 12/15/2025 21,251.25 47800BAC2 JDOT 2022-C A3 5.09% 6/15/2027 21,251.25 0.5512/15/2025 12/15/2025 38,456.05 448979AD6 HART 2023-A A3 4.58% 4/15/2027 38,456.05 1.2912/15/2025 12/15/2025 34,074.62 47800CAC0 JDOT 2023-A A3 5.01% 11/15/2027 34,074.62 2.6712/16/2025 12/16/2025 16,135.04 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 16,135.04 2.0712/16/2025 12/16/2025 24,161.46 362583AD8 GMCAR 2023-2 A3 4.47% 2/16/2028 24,161.46 0.3012/16/2025 12/16/2025 6,260.42 362585AC5 GMCAR 2022-2 A3 3.10% 2/16/2027 6,260.42 0.33 48 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS12/18/2025 12/18/2025 19,432.70 437930AC4 HAROT 2024-2 A3 5.27% 11/20/2028 19,432.70 1.5812/20/2025 12/20/2025 61,379.90 36269FAD8 GMALT 2024-1 A3 5.09% 3/22/2027 61,379.90 3.0512/20/2025 12/20/2025 53,437.48 36269WAD1 GMALT 2024-2 A3 5.39% 7/20/2027 53,437.48 1.5412/20/2025 12/20/2025 47,786.44 89238GAD3 TLOT 2024-A A3 5.25% 4/20/2027 47,786.44 22.5312/21/2025 12/21/2025 19,022.85 43815JAC7 HAROT 2023-1 A3 5.04% 4/21/2027 19,022.85 1.2012/21/2025 12/21/2025 21,248.00 438123AC5 HAROT 2023-4 A3 5.67% 6/21/2028 21,248.00 2.1312/25/2025 12/25/2025 210.02 3137HNN53 FHMS K548 AS FLOATING 4.53% 7/25/2030 210.0212/25/2025 12/25/2025 15,694.84 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 15,694.84 1.3812/25/2025 12/25/2025 13,020.04 096919AD7 BMWOT 2024-A A3 5.18% 2/26/2029 13,020.04 1.3612/25/2025 12/25/2025 1,182.74 3137HNND6 FHMS K549 AS FLOATING 4.38% 7/25/2030 1,182.74 Total PAYDOWNS 1,666,706.69 1,666,706.69 173.84
SELL10/1/2025 10/6/2025 2,000,000.00 3130AWGR5 FEDERAL HOME LOAN BANK 4.37% 6/12/2026 2,035,328.33 11,543.5110/1/2025 10/6/2025 1,000,000.00 438516CJ3 HONEYWELL INTERNATIONAL (CALLABLE) 4.95% 2/15/2028 1,029,992.50 16,403.6610/1/2025 10/6/2025 500,000.00 91282CHM6 US TREASURY N/B 4.50% 7/15/2026 507,984.89 3,038.6410/2/2025 10/3/2025 250,000.00 91282CHM6 US TREASURY N/B 4.50% 7/15/2026 253,910.49 1,529.7510/6/2025 10/7/2025 1,575,000.00 91282CKZ3 US TREASURY N/B 4.37% 7/15/2027 1,611,092.86 15,001.78 49 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
SELL10/7/2025 10/8/2025 825,000.00 91282CKZ3 US TREASURY N/B 4.37% 7/15/2027 844,358.35 8,216.7210/8/2025 10/9/2025 2,000,000.00 9128282A7 US TREASURY N/B 1.50% 8/15/2026 1,967,764.95 3,175.1910/8/2025 10/9/2025 1,000,000.00 438516BL9 HONEYWELL INTERNATIONAL (CALLABLE) 2.50% 11/1/2026 996,412.22 4,010.8910/10/2025 10/15/2025 1,250,000.00 91282CLN9 US TREASURY N/B 3.50% 9/30/2029 1,244,625.15 -1,422.9110/10/2025 10/15/2025 1,250,000.00 91282CLN9 US TREASURY N/B 3.50% 9/30/2029 1,244,966.94 -1,081.1210/22/2025 10/23/2025 500,000.00 91282CHM6 US TREASURY N/B 4.50% 7/15/2026 509,102.41 3,109.2110/24/2025 10/27/2025 1,075,000.00 91282CJR3 US TREASURY N/B 3.75% 12/31/2028 1,096,014.36 2,942.9710/28/2025 10/29/2025 1,700,000.00 91282CEV9 US TREASURY N/B 3.25% 6/30/2029 1,700,303.16 3,567.7310/29/2025 10/30/2025 500,000.00 808513BR5 CHARLES SCHWAB CORP (CALLABLE) 1.15% 5/13/2026 495,097.36 -7,516.7210/29/2025 10/30/2025 300,000.00 91282CHM6 US TREASURY N/B 4.50% 7/15/2026 305,636.21 1,781.6310/30/2025 10/31/2025 1,200,000.00 3133EPQC2 FEDERAL FARM CREDIT BANK 4.62% 7/17/2026 1,222,837.33 6,301.7711/3/2025 11/6/2025 1,020,000.00 17275RBQ4 CISCO SYSTEMS INC (CALLABLE) 4.80% 2/26/2027 1,040,485.00 11,563.8511/3/2025 11/6/2025 2,300,000.00 20030NBY6 COMCAST CORP (CALLABLE) 3.30% 2/1/2027 2,299,237.17 32,731.2511/3/2025 11/5/2025 1,475,000.00 91282CNN7 US TREASURY N/B 3.87% 7/31/2030 1,500,436.73 -810.9611/4/2025 11/5/2025 1,500,000.00 91282CFM8 US TREASURY N/B 4.12% 9/30/2027 1,520,943.73 1,799.2211/6/2025 11/7/2025 1,300,000.00 91282CJR3 US TREASURY N/B 3.75% 12/31/2028 1,323,162.88 -94.0911/6/2025 11/7/2025 1,600,000.00 91282CJP7 US TREASURY N/B 4.37% 12/15/2026 1,639,607.24 6,400.95 50 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
SELL11/6/2025 11/7/2025 1,700,000.00 91282CBT7 US TREASURY N/B 0.75% 3/31/2026 1,681,342.76 -18,420.9311/7/2025 11/10/2025 850,000.00 91282CNY3 US TREASURY N/B 3.37% 9/15/2028 849,955.43 -1,042.1111/7/2025 11/10/2025 1,650,000.00 91282CNK3 US TREASURY N/B 3.87% 6/30/2030 1,689,350.04 5,978.4411/10/2025 11/12/2025 1,600,000.00 91282CJA0 US TREASURY N/B 4.62% 9/30/2028 1,653,554.26 28,937.0111/10/2025 11/12/2025 840,000.00 91282CHE4 US TREASURY N/B 3.62% 5/31/2028 854,547.77 13,025.5711/13/2025 11/14/2025 400,000.00 91282CJA0 US TREASURY N/B 4.62% 9/30/2028 413,474.59 7,225.7911/13/2025 11/14/2025 625,000.00 91282CJR3 US TREASURY N/B 3.75% 12/31/2028 636,337.67 -272.8611/13/2025 11/14/2025 1,600,000.00 91282CHW4 US TREASURY N/B 4.12% 8/31/2030 1,642,924.03 -1,676.4611/13/2025 11/14/2025 600,000.00 91282CJW2 US TREASURY N/B 4.00% 1/31/2029 613,756.79 12,648.8511/17/2025 11/18/2025 600,000.00 91282CNG2 US TREASURY N/B 4.00% 5/31/2030 618,666.24 -1,033.6811/18/2025 11/19/2025 2,000,000.00 91282CJT9 US TREASURY N/B 4.00% 1/15/2027 2,035,186.83 18,056.8511/21/2025 11/24/2025 950,000.00 91282CJW2 US TREASURY N/B 4.00% 1/31/2029 975,634.51 22,775.2111/21/2025 11/24/2025 935,000.00 45950KDD9 INTL FINANCE CORP 4.50% 7/13/2028 972,105.48 22,369.3812/1/2025 12/4/2025 700,000.00 91324PEC2 UNITEDHEALTH GROUP INC (CALLABLE) 1.15% 5/15/2026 691,751.86 -1,764.3412/1/2025 12/4/2025 1,000,000.00 91324PEC2 UNITEDHEALTH GROUP INC (CALLABLE) 1.15% 5/15/2026 988,216.95 -11,022.5212/2/2025 12/3/2025 200,000.00 91282CHM6 US TREASURY N/B 4.50% 7/15/2026 204,424.93 1,017.6412/2/2025 12/3/2025 1,260,000.00 20030NCT6 COMCAST CORP (CALLABLE) 4.15% 10/15/2028 1,271,911.20 3,229.72 51 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
SELL12/3/2025 12/4/2025 175,000.00 437076DJ8 HOME DEPOT INC (CALLABLE) 3.95% 9/15/2030 176,152.91 238.3712/4/2025 12/5/2025 350,000.00 9128282A7 US TREASURY N/B 1.50% 8/15/2026 346,388.85 515.5312/9/2025 12/10/2025 2,385,000.00 857477CU5 STATE STREET CORP (CALLABLE) 4.53% 2/28/2028 2,446,490.07 30,838.0512/9/2025 12/10/2025 445,000.00 58933YBH7 MERCK & CO INC (CALLABLE) 4.05% 5/17/2028 448,425.39 2,457.9112/9/2025 12/10/2025 610,000.00 58933YBH7 MERCK & CO INC (CALLABLE) 4.05% 5/17/2028 614,695.47 3,507.9112/9/2025 12/10/2025 1,000,000.00 78016HZV5 ROYAL BANK OF CANADA 4.95% 2/1/2029 1,044,347.50 36,537.2212/9/2025 12/10/2025 445,000.00 58933YBH7 MERCK & CO INC (CALLABLE) 4.05% 5/17/2028 448,425.39 2,540.6612/9/2025 12/10/2025 3,000,000.00 3133ERMB4 FEDERAL FARM CREDIT BANK 4.25% 7/23/2027 3,078,130.83 30,125.51 Total SELL 52,040,000.00 52,785,498.01 328,985.64
52 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Appendix
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sourcesexternal to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements.While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References toparticular issuers are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and indexcharacteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion of the strategy rated by a NRSRO.It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.

Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of anysales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investmentperformance to be lower than the performance shown.The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast,projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinionas of the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct asactual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions anddata presented are not necessarily indicative of future events or expected performance.PFM Asset Management serves clients in the public sector and is a division of U.S. Bancorp Asset Management, Inc., which is the legal entity providing investmentadvisory services. U.S. Bancorp Asset Management, Inc. is a registered investment adviser, a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S.

Bancorp. U.S. Bank N.A. is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Asset Management, Inc. Theinformation contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.For more information regarding PFMAM's services or entities, please visit www.pfmam.com.Further distribution is not permitted without prior written consent. 53 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Appendix
Important Disclosures
Generally, PFMAM’s market prices are derived from closing bid prices as of the last business day of the month as supplied by ICE Data Services. There may bedifferences in the values shown for investments due to accrued but uncollected income and the use of differing valuation sources and methods. Non-negotiable FDIC-insured bank certificates of deposit are priced at par. Although PFMAM believes the prices to be reliable, the values of the securities may not represent the prices at which the securities could have been bought or sold. Explanation of the valuation methods for a registered investment company or local governmentinvestment program is contained in the appropriate fund offering documentation or information statement.

In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and forward settling sales are excluded.

Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns.

ICE Bank of America Indices provided by Bloomberg Financial Markets.Money market fund/cash balances are included in performance and duration computations.Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.MBS maturities are represented by expected average life. 54 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Appendix
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.Agencies: Federal agency securities and/or Government-sponsored enterprises.Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.

Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans, leases, credit card balances, and receivables.

Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector addedor subtracted from the overall portfolio performance.Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compoundingon investment returns, while nominal yield does not.FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.Interest Rate: Interest per year divided by principal amount and expressed as a percentage.Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.Maturity: The date upon which the principal or stated value of an investment becomes due and payable.Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.Par Value: The nominal dollar face amount of a security.Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is themortgage-backed security. 55 PFM Asset Management | pfmam.com
City of San Leandro
For the Quarter Ended December 31, 2025
Appendix
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments andmaturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whosedecisions are binding on its members.Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.U.S. Treasury: The department of the U.S. government that issues Treasury securities.Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.

YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time periodfrom purchase date to maturity, stated as a percentage on an annualized basis.YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the timeperiod remaining until maturity, stated as a percentage on an annualized basis. 56