Attachment A - Quarterly Investment Report 9-30-2022 — City Council and Concurrent Authorities, November 15, 2022

For the Quarter Ended September 30, 2022
Consolidated Summary
Account Summary
Reserve Portfolio1 $558,997,954
Short-Term Portfolio2 $119,090,495
BoW Main Account $38,186,571
CAMP Pool $30,223,355
Local Agency Investment Fund $75,000,000
Total Program $821,498,375
$0
$25
$50
$75
$100
$125
$150
$175
$200
30 Days
and Under
31 to 60
Days
61 to 90
Days
91 to 180
Days
181 to 1
Year
1 to 2
Years
2 to 3
Years
3 to 4
Years
4 to 5
Years
5 to 7
Years
7 to 10
Years
Over 10
Years
Millions
Maturity Distribution
Weighted Average Maturity: 667 Days

17.5%

0.5%

1.6%

7.3%

13.8%

17.3%

20.4%

16.6%

3.9%

0.5% 0.5% 0.0%
Corporate
Note
14%
Municipal
2%
Federal
Agency
16%
Agency MBS
<1%
Supranational
1%Cash
<1
U.S. Treasury
32%
Bank of the
West
5%
CAMP
4%
LAIF
9%
Certificate of
Deposit
8%
Asset-Backed
Security
1%
Commercial
Paper
8%
Consolidated Sector Allocation

1. Reserve Portfolio combines Reserve portfolios from both PFMAM and Chandler Asset Management.

2. Short
-Term Portfoli
o assets ar e managed by PFMAM .

ATTACHMENT A
1 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended
September 30, 2022
|
Yield and duration calculations exclude cash and cash equivalents. Sector allocation includes market values and accrued interest.

The portfolio’s benchmark is the ICE BofAML 1-5 Year U.S. Government/Corp A or Better, U.S. issuers only Index. Source: Bloomberg.

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

1. Credit Quality - S&P
15%
25%
30%
23%
6%
<1% 1% 1%4%
35%
27%
22%
12%
0%
10%
20%
30%
40%
0-1 Yr 1-2
Yrs
2-3
Yrs
3-4
Yrs
4-5
Yrs
5-6
Yrs
6-7
Yrs
> 7
Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 48%
Federal Agency | 22%
Corporate | 20%
Municipal | 3%
Negotiable CD | 2%
ABS | 2%
Supranational | 2%
Agency CMBS | <1%
Sector Allocation
AAA | 5%
AA+ | 71%
AA | 4%
AA- | 2%
A-1+ | 1%
A+ | 6%
A | 5%
A- | 4%
A-1 | 2%
BBB+ | 1%
Not Rated | <1%
Portfolio Statistics
Portfolio Effective Duration 2.38 years
Benchm
ark Effective Duration 2.50 years
Portfolio Credit Quality AA
Yield At Market 4.25%
Yield At Cost 1.40%
Total Market Value $281,999,078.44
$281,063,013.87Securities Sub-Total
$102,329.75Cash
$833,734.82Accrued Interest
0% 0%0%

ATTACHMENT A
Portfolio Snapshot - CITY OF STOCKTON RESERVE PORTFOLIO¹ Portion Managed By PFM Asset Management
2 Portfolio Snapshot - CITY OF STOCKTON RESERVE PORTFOLIO Portion Managed By Chandler Asset Management

ATTACHMENT ACITY OF STOCKTON
For the
Quarter Ended
September 30, 2022
3 Investment Performance Review
For the Quarter Ended September 30, 2022
Client Management Team PFM Asset Management LLC
Monique Spyke, Managing Director
Allison Kaune, Senior Analyst
Joseph Creason, Portfolio Manager
Gray Lepley, Portfolio Strategist
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 STOCKTON

ATTACHMENT A
4 © PFM Asset Management LLC pfmam.com|
Market Update

ATTACHMENT A
5 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market UpdateCLIENT NAME For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Current Market Themes
▸ The U.S. economy is characterized by:
▹ Persistent high inflati
on
▹ A deteriorating housing market
▹ Continued personal consumption that is impacting household savings and balance sheets
▹ Worsening economic outlook that is propped up by a strong labor market
▸ The Federal Reserve has committed to a heavy-handed policy ▹ Expectations have shifted from a soft landing to a moderate/hard landing, with increased recession risks
▹ Short-term fed funds rate projected to reach 4.25% to 4.50% by year end
▹ Increased pace of quantitative tightening
▸ Rapidly rising rates negatively impacting valuations and inducing market volatility
▹ Yields across curve reached their highest levels in 14 years ▹ Treasury yield curve is inverted
▹ Elevated volatility across all major asset classes

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
6 For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market UpdateCLIENT NAME For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source: Bloomberg, Bureau of Labor Statistics as of August 2022. 1Index weights are as of July 2022 as they are published on a one-month lag. 2Other services is a weighted blend of Water/Sewer/Trash, Household Operations, Recreation, Education, Communication Services, and Other Personal Services.

Headline Inflation Remains Elevated Despite Recent Reduction in Energy Prices -20%
-10%
0%
10%
20%
30%
40%
50%
60%
Aug-22Feb-22Aug-21Feb-21Aug-20Feb-20
Price Change of Major CPI Components
Since Decemb
er 2019
CPI Component
12-mo.

Change Weight 1
Contribution
to YoY CPI
Energy 23.8% 8.8% 1.7%
Food 11.4% 13.5% 1.5%
Goods 7.1% 21.2% 1.5%
Transportation 11.3% 5.9% 0.6%
Shelter 6.2% 32.2% 2.1%
Medical Services 5.6% 6.8% 0.4%
Other Services2 3.4% 11.6% 0.4%
Detail may not add to total due to rounding.

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
7 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market UpdateCLIENT NAME For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Economist and Market Expectations Point to Slowly Moderating Inflation Source: Bloomberg, data as of September 30, 2022.

6.7%

8.0%

8.7%

8.2%

7.2 %

5.8%

4.0%

3.2%

2.9% 2.7%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Q4
21 Q1
22 Q2
22 Q3
22 Q4
22 Q1
23 Q2
23 Q3
23 Q4
23 Q1
24 U.S. Inflation Forecasts
Annualized Rate
Range Median of Forecasts
-2.0%
-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22
Breakeven Inflation Rates
2 Yr. 5 Yr. 10 Yr.

Bloomberg Forecasts

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
8 For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update Labor Force Continues to Recover

CLIENT NAME
For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source: Congressional Budget Office September 2022 economic projections, Bureau of Labor Statistics. Bloomberg, as of September 2022. Data is seasonally adjusted.

April 20

14.7%
September 22

3.5%
0%
2%
4%
6%
8%
10%
12%
14%
16%
2019 2020 2021 2022
Unemployment Rate
56%
58%
60%
62%
64%
66%
68%
2000 2005 2010 2015 2020 2025 2030
Labor Force Participation Rate
Actual LFPR CBO Forecast Potential

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
9 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market UpdateCLIENT NAME For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source: Bloomberg, most recent data as of August 2022.

Housing Affordability Deteriorating Amid Soaring Rates and H ome Prices 0 50
100
150
200
250
1989 1992 1995 1998 2001 2004 2007 2010 2013 2016 2019 2022 Homebuyer Affordability
National Association of Realtors
This index blends home prices, income, and mortgage rates.

A value
of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home.

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
10 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market UpdateCLIENT NAME For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Fed Makes Aggressive Stance Clear But Market Uncertainty Persists Source: Federal Reserve, Bloomberg, Bloomberg Economist Fore casts as of September 30, 2022. 0%
1%
2%
3%
4%
5%
6%
Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24 2-Year U.S. Treasury Yield
0%
1%
2%
3%
4%
5%
6%
Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24 10-Year U.S. Treasury Yield
Median forecast
Range of Forecasts
Median forecast
“Without price stability, the economy does not work for anyone.” “We are moving our policy stance purposefully to a level that will be sufficiently restrictive to return inflation to 2%.” “No one knows whether this process will lead to a recession or if so, how significant that recession would be.”
From the
September 2022
FOMC Meeting
Press Conference

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
11 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market UpdateCLIENT NAME For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Source: Federal Reserve, latest economic projections as of September 2022.

Fed’s Projections Reflect Weaker Economic Growth and Extend e d Timeline for Tighter Policy

0.2%

1.2%

1.7% 1.8%
0%
1%
2%
3%
2022 2023 2024 Longer
Run
Change in Real GDP
June Projections Sept Projections

3.8%

4.4% 4.4% 4.0%
0%
1%
2%
3%
4%
5%
2022 2023 2024 Longer
Run
Unemployment Rate
June Projections Sept Projections

4.5%

3.1%

2.3%
0%
2%
4%
6%
2022 2023 2024
Core PCE Inflation
June Projections Sept Projections

4.4% 4.6%

3.9%

2.5%
0%
1%
2%
3%
4%
5%
2022 2023 2024 Longer
Run
Federal Funds Rate
June Projections Sept Projections

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
12 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market UpdateCLIENT NAME For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
The Pros and Cons of Rising Rates: Lower Market Values and Stronger Income Potential
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
2020
2022
Annual Price & Income Returns
(1-5 Year Treasury)
Income Return Price Return Total Return

3.25%

3.90%

4.29%

4.09% 3.98%

3.83%

0.0%

0.5%

1.0%

1.5%
2 .0%

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%
Yield
U.S. Treasury Yield Curve
September 30, 2022
June 30, 2022
3mo 2yr 5yr 7yr 10yr
Source: ICE BofAML Indices via Bloomberg, as of September 30, 2022; PFMAM calculations. 2022 Price, income, and total return is YTD as of September 30, 2022. Income return is based on the starting yield from the prior year ended December 31, 20xx. Price return is calculated as the difference between the total return and calculated income return for each period.

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
13 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market UpdateCLIENT NAME For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Sector Yield Spreads Mixed in Q3 2022
-0.3%
-0.2%
-0.1%

0.0%

0.1%

0.2%

0.3%
Sep-21 Dec-21 Mar-22 Jun-22 Sep-22
Federal Agency Yield Spreads
Bullet Callable

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%
Sep-21 Dec-21 Mar-22 Jun-22 Sep-22
Corporate Notes A-AAA Yield Spreads
-0.5%

0.0%

0.5%

1.0%

1.5%

2.0%
Sep-21 Dec-21 Mar-22 Jun-22 Sep-22
Mortgage-Backed Securities Yield Spreads
Agency MBS AAA CMBS Index

0.0%

0.4%

0.8%

1.2%

1.6%
Sep-21 Dec-21 Mar-22 Jun-22 Sep-22
Asset-Backed Securities AAA Yield Spreads
Source: ICE BofAML 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of September 30, 2022. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.

CMBS is Commercial Mortgage-Backed Securities.

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
14 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market UpdateCLIENT NAME For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
$100
$120
$140
$160
$180
$200
$220
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
2020
2022
Growth of $100
(1/1/2000 - 9/30/2022)
-2.28%
-2.17%
-0.85%
-2.18%
-1.84%
-3.0%
-2.5%
-2.0%
-1.5%
-1.0%
-0.5%

0.0%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
Q3 2022
Source: ICE BofAML Indices. ABS indices are 0-5 year, based o n weighted average life. As of September 30, 2022.

Right Chart: 1-5 Year Treasury (GVQ0 Index).
1-5 Year Indices
Fixed Inc
ome Returns in Q3 2022

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
15 PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market UpdateCLIENT NAME For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC | pfmam.com
Fixed-Income Sector Commentary – 3Q 2022
▸ U.S. Treasury securities post ed negative
absolute returns during Q3 as interest rates
continue to ascend to levels not seen in over
14 years.
▸ Federal agency bullet spreads remained
mostly unchanged in the low single-digits and
the sector remained largely stagnant on light
issuance. Conversely, the rapid rise in rates
and volatility prompted a widening in spreads
for callable federal agencies.
▸ Supranational yield spreads widened slightly
in the longer-end of the curve while issuance
has consistently lagged projections this year.

Unattractive funding levels compounded by
liquidity pressures resulted in minimal activity
in the sector. New issues at attractive
concessions to secondary inventory were the
lone avenue to new exposure.
▸ Investment-Grade Corporates were a strong
performer for much of the quarter as spreads
tightened. Increases to allocations in the
sector over recent months played a significant
role in the strong performance relative to
benchmarks.
▸ Asset-Backed yield spreads lagged the
comparative narrowing in other sectors but
remained relatively elevated in relation to high
quality corporate notes. Although elevated
relative to corporates, spreads tightened
throughout the quarter and the sector generated
attractive excess returns, with automobile
collateral besting credit card structures.
▸ Mortgage-Backed Securities have been a
staggering underperformer so far this year.

Soaring mortgage rates combined with record
high housing prices caused refinancing and new
purchases to grind to a halt. Heightened volatility
and concerns about an economic slowdown
continued to weigh on the sector, while the
looming Fed balance sheet reduction
compounded the gloomy outlook.
▸ Taxable Municipals were another sector that
generated positive excess returns in Q3. New
issuance was generally lackluster with deals
being heavily oversubscribed, pressuring spreads
lower.
▸ Commercial Paper and CDs have been subject
to a rapidly changing backdrop influenced by the
Fed’s aggressive series of rate hikes. Fixed-rate
credit spreads widened during the quarter and
the short-term credit curve remains steep.

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Market Update
© PFM Asset Management LLC pfmam.com|

ATTACHMENT A
16 © PFM Asset Management LLC pfmam.com|
Portfolio Review:

CITY OF STOCKTON RESERVE PORTFOLIO

ATTACHMENT A
17 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
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 BofAML 1-5 Year U.S. Government/Corp A or Better, U.S. issuers only Index. Source: Bloomberg.

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 STOCKTON RESERVE PORTFOLIO¹ Credit Quality - S&P
15%
25%
30%
23%
6%
<1% 1% 1%4%
35%
27%
22%
12%
0%
10%
20%
30%
40%
0-1 Yr 1-2
Yrs
2-3
Yrs
3-4
Yrs
4-5
Yrs
5-6
Yrs
6-7
Yrs
> 7
Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 48%
Federal Agency | 22%
Corporate | 20%
Municipal | 3%
Negotiable CD | 2%
ABS | 2%
Supranational | 2%
Agency CMBS | <1%
Sector Allocation
AAA | 5%
AA+ | 71%
AA | 4%
AA- | 2%
A-1+ | 1%
A+ | 6%
A | 5%
A- | 4%
A-1 | 2%
BBB+ | 1%
Not Rated | <1%
Portfolio Statistics
Portfolio Effective Duration 2.38 years
B
enchmark Effective Duration 2.50 years
Portfolio Credit Quality AA
Yield At Market 4.25%
Yield At Cost 1.40%
Total Market Value $281,999,078.44
$281,063,013.87Securities Sub-Total
$102,329.75Cash
$833,734.82Accrued Interest
0% 0%0%

ATTACHMENT A
18 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
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 balances invested in overnight funds.

Issuer Diversification - CITY OF STOCKTON RESERVE PORTFOLIO Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer U.S. Treasury 47.9%
UNITED STATES TREASURY 47.9% AA / Aaa / AAA
Federal Agency 21.9%
FANNIE MAE 15.6% AA / Aaa / AAA
FEDERAL FARM CREDIT BANKS 1.0% AA / Aaa / AAA
FEDERAL HOME LOAN BANKS 1.4% AA / Aaa / NR
FREDDIE MAC 3.9% AA / Aaa / AAA
Agency CMBS 0.3%
FANNIE MAE 0.3% AA / Aaa / AAA
FREDDIE MAC 0.0% AA / Aaa / AAA
Supranational 2.0%
INTER-AMERICAN DEVELOPMENT BANK 1.4% AAA / Aaa / AAA
INTL BANK OF RECONSTRUCTION AND DEV 0.6% AAA / Aaa / AAA Municipal 2.8%

CALIFORNIA DEPARTMENT OF WATER

RESOURCES

0.0% AAA / Aa / NR
CALIFORNIA STATE UNIVERSITY 0.2% AA / Aa / NR
FLORIDA STATE BOARD OF ADMIN FIN CORP 0.6% AA / Aa / AA

LOS ANGELES COMMUNITY COLLEGE

DISTRICT

0.3% AA / Aaa / NR
NEW JERSEY TURNPIKE AUTHORITY 0.2% AA / A / A
SAN DIEGO COMMUNITY COLLEGE DISTRICT 0.2% AAA / Aaa / NR STATE OF CALIFORNIA 0.8% AA / Aa / AA
STATE OF MARYLAND 0.2% AAA / Aaa / AAA
UNIVERSITY OF CALIFORNIA 0.2% AA / Aa / AA
Negotiable CD 2.4%
BARCLAYS PLC 1.0% A / Aa / A
Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Negotiable CD 2.4%
CREDIT SUISSE GROUP RK 0.7% A / Aa / BBB
DNB ASA 0.6% AA / Aa / NR
Corporate 20.4%
3M COMPANY 0.5% A / A / NR
AMAZON.COM INC 1.4% AA / A / AA
AMERICAN HONDA FINANCE 0.6% A / A / A
BANK OF AMERICA CO 1.3% A / A / AA
CITIGROUP INC 0.4% BBB / A / A
DEERE & COMPANY 0.8% A / A / A
GOLDMAN SACHS GROUP INC 0.6% BBB / A / A
HONEYWELL INTERNATIONAL 0.7% A / A / A
INTEL CORPORATION 0.7% A / A / A
JP MORGAN CHASE & CO 1.0% A / A / AA
MASTERCARD INC 0.8% A / A / NR
MERCK & CO INC 0.8% A / A / A
MICROSOFT CORP 0.9% AAA / Aaa / AAA
MORGAN STANLEY 0.5% A / A / A
NOVARTIS AG 1.2% AA / A / AA
PACCAR FINANCIAL CORP 0.1% A / A / NR
PFIZER INC 1.1% A / A / A
STATE STREET CORPORATION 1.4% A / A / AA
TARGET CORP 0.7% A / A / A

THE BANK OF NEW YORK MELLON

CORPORATION

1.2% A / A / AA
TOYOTA MOTOR CORP 0.6% A / A / A
TRUIST FIN CORP 0.7% A / A / A

ATTACHMENT A
19 © PFM Asset Management LLC pfmam.com

Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Corporate 20.4%
US BANCORP 0.9% A / A / A
WAL-MART STORES INC 1.4% AA / Aa / AA
ABS 2.1%
CARMAX AUTO OWNER TRUST 0.6% AAA / NR / AAA
DISCOVER FINANCIAL SERVICES 0.3% AAA / Aaa / NR
HONDA AUTO RECEIVABLES 0.3% AAA / Aaa / AAA
HYUNDAI AUTO RECEIVABLES 0.4% AAA / NR / AAA
NISSAN AUTO RECEIVABLES 0.1% AAA / Aaa / AAA
TOYOTA MOTOR CORP 0.5% AAA / Aaa / NR
100.0%Total
Issuer Diversification - CITY OF STOCKTON RESERVE PORTFOLIO

ATTACHMENT A
20 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Portfolio Characteristics
|
$0.0
$118.0
$236.0
$354.0
$472.0
$590.0
Millions
September 2022
$0.0
$118.0
$236.0
$354.0
$472.0
$590.0
Millions
June 2022
$0.0
$118.0
$236.0
$354.0
$472.0
$590.0
Millions
March 2022
$0.0
$118.0
$236.0
$354.0
$472.0
$590.0
Millions
December 2021
Sector Allocation Review - CITY OF STOCKTON RESERVE PORTFOLIO U.S. Treasury
Federal Agency
Agency CMBS Supranational Municipal Negotiable CD 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.

Dec-21 % of TotalSecurity Type Mar-22 % of Total Jun-22 % of Total % of TotalSep-22 U.S. Treasury $244.5 41.4% $239.5 41.7% $249.5 44.0% $134.9 48.0% Federal Agency $160.0 27.2% $146.7 25.6% $144.3 25.4% $61.7 21.9% Agency CMBS $8.4 1.4% $7.2 1.3% $4.0 0.7% $0.9 0.3%
Supranational $12.0 2.0% $11.6 2.0% $11.5 2.0% $5.7 2.0% Municipal $16.9 2.9% $16.2 2.8% $16.0 2.8% $7.9 2.8%
Negotiable CD $25.1 4.3% $30.8 5.4% $20.8 3.7% $6.7 2.4% Commercial Paper $0.0 0.0% $0.0 0.0% $7.1 1.2% $0.0 0.0% Corporate $102.5 17.4% $105.0 18.3% $101.3 17.8% $57.3 20.4% ABS $19.8 3.4% $16.4 2.9% $13.7 2.4% $6.1 2.2%
Total $589.3 100.0% $573.4 100.0% $568.1 100.0% $281.1 100.0%

ATTACHMENT A
21 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Portfolio Activity
|
Portfolio Activity - CITY OF STOCKTON RESERVE PORTFOLIO Net Activity by Sector
($ millions)
U.S. Treasury
Federal Agency
Corporate
Negotiable CD
Municipal
ABS
Commercial Paper
Supranational
Agency CMBS
U.S. Treasury
Federal Age
ncy
Corporate
Negotiable CD
Municipal
ABS
Commercial Paper
Supranational
Agency CMBS
($150.0) ($100.0) ($50.0) $0.0 $50.0
Sales/Maturities include securities that were transferred out of the portfolio.

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 Activity
Agency CMBS ($3,071,584)
Supranational ($5,768,064)
Commercial Paper ($7,083,417)
ABS ($7,608,791)
Municipal ($8,050,303)
Negotiable CD ($14,138,274)
Corporate ($43,016,132)
Federal Agency ($81,619,212)
U.S. Treasury ($111,366,143)
($281,721,920)Total Net Activity
Sales/Maturities Purchases

ATTACHMENT A
22 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Portfolio Performance
|
Performance on trade-date basis, gross (i.e., before fees), in accordance with the CFA Institute’s Global Investment Performance Standards (GIPS).1.

Income returns calculated as interest earned on investments during the period.2.

Price returns calculated as the change in market value of each security for the period.3.

Returns are presented on a periodic basis.4.

Total Return by Sector Contribution to Total Return
ABS
Corporate
Commercial Paper
Negotiable CD
Municipal
Supranational
Agency CMBS
Federal Agency
U.S. Treasury
-2.00%
-1.50%
-1.00%
-0.50%

0.00%

0.22%

0.58%

0.00%

0.34%

0.37%

0.11%

0.83%

0.21%

0.26%
-0.42%
-2.02%

0.49%

0.17%
-1.99%
-1.29%
-0.44%
-1.90%
-2.74%
-5.0% -3.4% -1.8% -0.2% 1.4% 3.0%
Return
Quarterly Sector Performance - CITY OF STOCKTON RESERVE PORTFOLIO

ATTACHMENT A
23 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Portfolio Performance
|
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 June 30, 2017.1.

Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.

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.3.

The portfolio’s benchmark is the ICE BofAML 1-5 Year U.S. Government/Corp A or Better, U.S. issuers only Index. Source: Bloomberg.4. -8.0%
-6.0%
-4.0%
-2.0%

0.0%

2.0%
Return
Portfolio Benchmark Net of Fees
Portfolio Performance - CITY OF STOCKTON RESERVE PORTFOLIO Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years Since Inception¹ Interest Earned² $982,563 $6, 465,846 $25,440,094 $42,324,630 $43,631,137 Change in Market Value ($6,272,428) ($39,025,746) ($34,679,258) ($27,504,222) ($27,323,918) ($5,289,865)Total Dollar Return ($32,559,900) ($9,239,164) $14,820,408 $16,307,219 Total Return³
Portfolio -1.92% -6.38% -0.64% 0.69% 0.73%
Benchmark⁴ -2.27% -6.91% -0.95% 0.44% 0.49%
Basis Point Fee 0.01% 0.06% 0.06% 0.05% 0.05%
Net of Fee Return -1.93% -6.43% -0.70% 0.63% 0.68%
3 Months 1 Year 3 Years 5 Years Since Inception

ATTACHMENT A
24 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Portfolio Performance
|
The lesser of 10 years or since inception is shown. Performance inception date is June 30, 2017.1.

Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.

Realized gains / (losses) are shown on an amortized cost basis.3.

Accrual Basis Earnings - CITY OF STOCKTON RESERVE PORTFOLIO Accrual Basis Earnings
Interest Earned²
Realized
Gains / (Losses)³
Change in Amortized Cost
Total Earnings
3 Months
$982,563
($13,823,
282)
$13,696,477
$855,757
1 Year
$6,465,846
($13,606,
548)
$13,181,103
$6,040,401
3 Years
$25,440,094
($5,898,5
39)
$11,930,423
$31,471,978
5 Year
$42,324,630
($8,322,7
27)
$13,771,311
$47,773,214
Since Inception¹
$43,631,137
($8,354,1
64)
$14,037,032
$49,314,005

ATTACHMENT A
25 © PFM Asset Management LLC pfmam.com|
Portfolio Review:

CITY OF STOCKTON SHORT-TERM PORTFOLIO

ATTACHMENT A
26 © PFM Asset Management LLC pfmam.com

The portfolio’s benchmark is . Source: Bloomberg.

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 STOCKTON SHORT-TERM PORTFOLIO¹ Credit Quality - S&P
100%
0%
20%
40%
60%
80%
100%
0-1 Yr
Portfolio
Duration Distribution
Commercial Paper | 59%
Negotiable CD | 42%
Sector Allocation
A-1+ | 8%
A-1 | 92%
Portfolio Statistics

0.47 years
A

4.34%
Portfolio Effective Duration
Yield At Cost
Yield At Market
Portfolio Credit Quality

3.03%
Total Market Value $119,618,069.87
$119,090,494.87Securities Sub-Total
$0.00Cash
$527,575.00Accrued Interest

ATTACHMENT A
27 © PFM Asset Management LLC pfmam.com

Issuer Diversification - CITY OF STOCKTON SHORT-TERM PORTFOLIO Market Value (%) S&P / Moody's / FitchSecurity Type / Issuer Negotiable CD 41.7%
MITSUBISHI UFJ FINANCIAL GROUP INC 16.7% A / Aa / A
NATIXIS NY BRANCH 12.5% A / Aa / A
SUMITOMO MITSUI FINANCIAL GROUP INC 12.5% A / Aa / A
Commercial Paper 58.3%
BANK OF AMERICA CO 8.2% A / NR / AA
BNP PARIBAS 8.2% A / Aa / AA
COLLAT COMM PAPER V CO 16.7% A / Aa / AA
ING GROEP NV 8.4% A / Aa / NR
LMA AMERICAS LLC 8.4% A / Aa / AA
OLD LINE FUNDING LLC 8.4% AA / Aa / AA
100.0%Total

ATTACHMENT A
28 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Portfolio Characteristics
|
$0.0
$24.0
$48.0
$72.0
$96.0
$120.0
Millions
$0.0
$24.0
$48.0
$72.0
$96.0
$120.0
Millions
September 2022
$0.0
$24.0
$48.0
$72.0
$96.0
$120.0
Millions
June 2022
$0.0
$24.0
$48.0
$72.0
$96.0
$120.0
Millions
March 2022
Sector Allocation Review - CITY OF STOCKTON SHORT-TERM PORTFOLIO Negotiable CD Commercial Paper
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.

Mar-22 % of TotalSecurity Type Jun-22 % of Total Sep-22 % of Total % of Total Negotiable CD $0.0 0.0% $49.5 62.7% $49.4 41.5% $0.0 0.0% Commercial Paper $29.9 100.0% $29.4 37.3% $69.7 58.5% $0.0 0.0% Total $29.9 100.0% $78.9 100.0% $119.1 100.0% $0.0 0.0%

ATTACHMENT A
29 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Portfolio Activity
|
Portfolio Activity - CITY OF STOCKTON SHORT-TERM PORTFOLIO Net Activity by Sector
($ millio
ns)
Commercial PaperCommercial Paper
$0.0 $10.0 $20.0 $30.0 $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 Activity
Commercial Paper $39,983,234
$39,983,234Total Net Activity
Sales/Maturities Purchases

ATTACHMENT A
30 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Portfolio Performance
|
Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.1.

Realized gains / (losses) are shown on an amortized cost basis.2.

Accrual Basis Earnings - CITY OF STOCKTON SHORT-TERM PORTFOLIO Accrual Basis Earnings
Interest Earned¹
Realized
Gains / (Losses)²
Change in Amortized Cost
Total Earnings
4Q2021
-
-
-
-
1Q2022
-
-
-
-
2Q2022
$183,342
-
$57,953
$258,794
3Q2022
$344,233
-
$519,254
$863,487

ATTACHMENT A
31 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Compliance
|
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM").

Certificate of Compliance
During the reporting period for the quarter ended September 30, 2022, the account(s) managed by PFM Asset Management ("PFMAM"
) were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged :PFM Asset Management LLC

ATTACHMENT A
32 © PFM Asset Management LLC pfmam.com|
Reserve Portfolio Holdings and Transactions

ATTACHMENT A
33 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Portfolio Holdings
|
Managed Account Detail of Securities Held
Security Type/Description
Dated Da
te/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 NOTES
DTD 10/31/2020 0.125% 10/31/2022
91282CAR2 4,180,000.00 AA+ Aaa 9/29/2022 9/30/2022 4,170,692.97 2.77 2,186.55 4,169,550.004,170,993.20

US TREASURY NOTES
DTD 08/01/2016 1.250% 07/31/2023
912828S92 807,500.00 AA+ Aaa 4/2/2019 4/4/2019 773,307.42 2.28 1,700.58 787,817.19800,938.66

US TREASURY NOTES
DTD 09/30/2016 1.375% 09/30/2023
912828T26 2,500,000.00 AA+ Aaa 8/7/2019 8/8/2019 2,491,503.90 1.46 94.44 2,428,906.252,497,957.34

US TREASURY NOTES
DTD 11/15/2020 0.250% 11/15/2023
91282CAW1 1,572,500.00 AA+ Aaa 10/4/2021 10/6/2021 1,570,780.08 0.30 1,484.90 1,502,720.311,571,584.20

US TREASURY NOTES
DTD 11/15/2013 2.750% 11/15/2023
912828WE6 12,500.00 AA+ Aaa 3/6/2019 3/8/2019 12,626.46 2.52 129.84 12,279.3012,530.27

US TREASURY NOTES
DTD 11/30/2016 2.125% 11/30/2023
912828U57 4,257,500.00 AA+ Aaa 1/7/2019 1/9/2019 4,181,330.66 2.52 30,404.48 4,153,723.444,239,374.60

US TREASURY NOTES
DTD 12/31/2018 2.625% 12/31/2023
9128285U0 230,000.00 AA+ Aaa 1/30/2019 1/31/2019 230,682.81 2.56 1,525.78 225,220.32230,173.46

US TREASURY NOTES
DTD 02/28/2019 2.375% 02/29/2024
9128286G0 763,000.00 AA+ Aaa 8/11/2021 8/12/2021 802,521.02 0.33 1,551.82 742,494.38784,904.24

US TREASURY NOTES
DTD 02/28/2019 2.375% 02/29/2024
9128286G0 946,500.00 AA+ Aaa 8/11/2021 8/12/2021 995,266.93 0.35 1,925.03 921,062.81973,528.72

US TREASURY NOTES
DTD 03/31/2017 2.125% 03/31/2024
912828W71 2,965,000.00 AA+ Aaa 1/5/2022 1/6/2022 3,046,537.50 0.88 173.09 2,870,027.493,019,725.17

US TREASURY N/B NOTES
DTD 04/15/2021 0.375% 04/15/2024
91282CBV2 1,570,000.00 AA+ Aaa 10/4/2021 10/6/2021 1,569,141.40 0.40 2,718.55 1,477,762.501,569,476.65

US TREASURY NOTES
DTD 05/01/2017 2.000% 04/30/2024
912828X70 2,257,500.00 AA+ Aaa 6/3/2019 6/5/2019 2,267,729.29 1.90 18,894.29 2,176,723.942,260,795.53

US TREASURY NOTES
DTD 06/30/2017 2.000% 06/30/2024
912828XX3 5,715,000.00 AA+ Aaa 7/1/2019 7/3/2019 5,773,935.94 1.78 28,885.60 5,494,436.435,735,614.65

US TREASURY NOTES
DTD 07/31/2017 2.125% 07/31/2024
9128282N9 1,250,000.00 AA+ Aaa 8/7/2019 8/8/2019 1,289,453.12 1.47 4,475.20 1,202,343.751,264,510.25

US TREASURY N/B NOTES
DTD 08/15/2021 0.375% 08/15/2024
91282CCT6 3,010,000.00 AA+ Aaa 8/19/2021 8/20/2021 3,006,002.34 0.42 1,441.61 2,799,300.003,007,493.68

ATTACHMENT A
34 © PFM Asset Management LLC pfmam.com

US TREASURY NOTES
DTD 08/31/2017 1.875% 08/31/2024
9128282U3 7,137,500.00 AA+ Aaa 11/25/2020 11/27/2020 7,567,701.66 0.26 11,460.42 6,823,003.917,356,830.78

US TREASURY N/B NOTES
DTD 09/15/2021 0.375% 09/15/2024
91282CCX7 1,577,500.00 AA+ Aaa 10/4/2021 10/6/2021 1,571,769.24 0.50 261.46 1,462,638.281,573,688.38

US TREASURY NOTES
DTD 10/31/2019 1.500% 10/31/2024
912828YM6 1,060,000.00 AA+ Aaa 1/12/2021 1/13/2021 1,106,043.75 0.35 6,653.80 1,002,031.251,085,262.65

US TREASURY NOTES
DTD 10/31/2017 2.250% 10/31/2024
9128283D0 1,700,000.00 AA+ Aaa 11/1/2019 11/5/2019 1,755,582.03 1.57 16,006.79 1,632,000.001,723,215.11

US TREASURY NOTES
DTD 11/30/2017 2.125% 11/30/2024
9128283J7 5,457,500.00 AA+ Aaa 1/3/2020 1/7/2020 5,583,917.87 1.63 38,974.15 5,215,323.445,513,395.21

US TREASURY NOTES
DTD 02/29/2020 1.125% 02/28/2025
912828ZC7 1,387,500.00 AA+ Aaa 8/19/2021 8/20/2021 1,416,442.38 0.53 1,336.72 1,287,990.171,407,296.77

US TREASURY NOTES
DTD 02/29/2020 1.125% 02/28/2025
912828ZC7 3,085,000.00 AA+ Aaa 10/4/2021 10/6/2021 3,139,108.01 0.60 2,972.08 2,863,747.503,123,411.89

US TREASURY NOTES
DTD 04/30/2020 0.375% 04/30/2025
912828ZL7 2,997,500.00 AA+ Aaa 4/5/2021 4/7/2021 2,958,391.99 0.70 4,703.96 2,714,610.942,972,675.37

US TREASURY NOTES
DTD 06/30/2020 0.250% 06/30/2025
912828ZW3 1,597,500.00 AA+ Aaa 10/4/2021 10/6/2021 1,571,103.81 0.70 1,009.29 1,433,257.031,578,075.66

US TREASURY NOTES
DTD 08/31/2020 0.250% 08/31/2025
91282CAJ0 2,725,000.00 AA+ Aaa 8/17/2021 8/20/2021 2,683,486.33 0.63 583.39 2,426,953.132,694,964.63

US TREASURY NOTES
DTD 08/31/2020 0.250% 08/31/2025
91282CAJ0 6,095,000.00 AA+ Aaa 8/19/2021 8/20/2021 6,004,527.34 0.62 1,304.87 5,428,359.376,029,542.54

US TREASURY NOTES
DTD 10/31/2020 0.250% 10/31/2025
91282CAT8 3,500,000.00 AA+ Aaa 10/4/2021 10/6/2021 3,425,898.44 0.78 3,661.68 3,098,593.753,443,850.37

US TREASURY NOTES
DTD 11/30/2020 0.375% 11/30/2025
91282CAZ4 6,772,500.00 AA+ Aaa 11/1/2021 11/2/2021 6,589,430.86 1.05 8,535.02 6,003,185.996,630,372.45

US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 700,000.00 AA+ Aaa 1/11/2021 1/13/2021 695,980.47 0.49 663.38 618,953.16697,368.35

US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 5,700,000.00 AA+ Aaa 5/6/2021 5/10/2021 5,606,707.03 0.73 5,401.84 5,040,047.165,634,705.92

US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 8,475,000.00 AA+ Aaa 1/4/2022 1/6/2022 8,174,402.34 1.27 5,354.45 7,465,945.328,228,615.11

US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 7,635,000.00 AA+ Aaa 2/18/2022 2/22/2022 7,215,969.73 1.83 4,823.74 6,725,957.817,280,323.93

ATTACHMENT A
35 © PFM Asset Management LLC pfmam.com

US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 1,195,000.00 AA+ Aaa 7/2/2021 7/7/2021 1,172,033.59 0.80 754.99 1,052,720.311,178,239.61

US TREASURY NOTES
DTD 01/31/2019 2.625% 01/31/2026
9128286A3 1,707,500.00 AA+ Aaa 2/4/2021 2/4/2021 1,890,055.76 0.46 7,551.51 1,622,658.591,829,537.82

US TREASURY NOTES
DTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 1,980,000.00 AA+ Aaa 12/3/2021 12/7/2021 1,926,632.81 1.15 847.79 1,747,040.721,936,932.95

US TREASURY NOTES
DTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 10,690,000.00 AA+ Aaa 2/2/2022 2/3/2022 10,249,872.66 1.55 4,577.21 9,432,255.2310,320,956.48

US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 805,000.00 AA+ Aaa 6/7/2021 6/7/2021 803,176.17 0.80 2,029.00 711,041.37803,658.45

US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 4,360,000.00 AA+ Aaa 6/6/2022 6/8/2022 3,995,871.88 2.99 10,989.34 3,851,106.034,024,691.38

US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 3,155,000.00 AA+ Aaa 10/4/2021 10/6/2021 3,133,186.13 0.90 7,952.15 2,786,752.183,137,810.98

US TREASURY N/B NOTES
DTD 09/30/2021 0.875% 09/30/2026
91282CCZ2 3,700,000.00 AA+ Aaa 4/5/2022 4/7/2022 3,406,746.09 2.77 88.94 3,255,422.063,438,454.06

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
912828U24 2,540,000.00 AA+ Aaa 8/8/2022 8/9/2022 2,437,606.25 3.01 19,188.04 2,332,434.252,441,087.24

US TREASURY NOTES
DTD 02/15/2017 2.250% 02/15/2027
912828V98 855,000.00 AA+ Aaa 8/8/2022 8/9/2022 828,515.04 2.99 2,456.96 790,340.63829,365.25

US TREASURY N/B NOTES
DTD 04/30/2020 0.500% 04/30/2027
912828ZN3 4,840,000.00 AA+ Aaa 8/2/2022 8/3/2022 4,331,989.06 2.88 10,127.17 4,117,025.004,349,304.28

US TREASURY NOTES
DTD 06/30/2020 0.500% 06/30/2027
912828ZV5 4,215,000.00 AA+ Aaa 8/25/2022 8/26/2022 3,705,577.73 3.21 5,326.02 3,568,260.943,715,944.72

US TREASURY NOTES
DTD 08/15/2017 2.250% 08/15/2027
9128282R0 2,730,000.00 AA+ Aaa 9/1/2022 9/6/2022 2,588,274.61 3.40 7,845.04 2,508,187.502,590,238.65

US TREASURY NOTES
DTD 01/31/2021 0.750% 01/31/2028
91282CBJ9 540,000.00 AA+ Aaa 3/14/2022 3/15/2022 498,382.03 2.15 682.34 454,528.15502,257.07

US TREASURY N/B NOTES
DTD 09/30/2021 1.250% 09/30/2028
91282CCY5 525,000.00 AA+ Aaa 3/14/2022 3/15/2022 495,591.79 2.17 18.03 446,906.25498,051.70

US TREASURY NOTES
DTD 02/15/2019 2.625% 02/15/2029
9128286B1 500,000.00 AA+ Aaa 3/21/2022 3/22/2022 509,433.59 2.33 1,676.29 460,625.00508,711.67

US TREASURY N/B NOTES
DTD 05/31/2022 2.750% 05/31/2029
91282CES6 670,000.00 AA+ Aaa 8/5/2022 8/9/2022 662,698.05 2.93 6,192.01 620,587.50662,853.66

ATTACHMENT A
36 © PFM Asset Management LLC pfmam.com

US TREASURY NOTES
DTD 08/15/2019 1.625% 08/15/2029
912828YB0 520,000.00 AA+ Aaa 3/21/2022 3/22/2022 496,518.75 2.29 1,079.21 448,337.50498,195.36

US TREASURY NOTES
DTD 02/15/2020 1.500% 02/15/2030
912828Z94 542,500.00 AA+ Aaa 4/6/2022 4/11/2022 498,040.43 2.66 1,039.30 460,362.14500,723.20

US TREASURY NOTES
DTD 08/15/2020 0.625% 08/15/2030
91282CAE1 587,500.00 AA+ Aaa 4/6/2022 4/11/2022 498,755.37 2.65 468.96 460,269.53503,792.38

US TREASURY NOTES
DTD 02/15/2021 1.125% 02/15/2031
91282CBL4 565,000.00 AA+ Aaa 4/6/2022 4/11/2022 498,104.88 2.63 811.80 457,650.00501,685.59

US TREASURY N/B NOTES
DTD 08/15/2021 1.250% 08/15/2031
91282CCS8 562,500.00 AA+ Aaa 4/6/2022 4/11/2022 498,515.62 2.63 898.01 454,570.31501,758.90

US TREASURY N/B NOTES
DTD 05/15/2022 2.875% 05/15/2032
91282CEP2 660,000.00 AA+ Aaa 8/5/2022 8/9/2022 662,629.69 2.83 7,167.19 610,500.00662,590.62 148,084,500.00 145,036,183.10 311,066.10 134,856,547.51Security Type Sub-Total 1.51 145,050,037.76 Supranational

INTL BK RECON & DEVELOP NOTES
DTD 11/24/2020 0.250% 11/24/2023
459058JM6 1,870,000.00 AAA Aaa 11/17/2020 11/24/2020 1,865,979.50 0.32 1,649.24 1,785,793.901,868,461.56

INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
4581X0DZ8 4,190,000.00 AAA Aaa 9/15/2021 9/23/2021 4,186,899.40 0.52 465.56 3,889,765.554,187,954.62 6,060,000.00 6,052,878.90 2,114.80 5,675,559.45Security Type Sub-Total 0.46 6,056,416.18 Negotiable CD

DNB BANK ASA/NY LT CD
DTD 12/06/2019 2.040% 12/02/2022
23341VZT1 1,810,000.00 A-1+ P-1 12/5/2019 12/6/2019 1,810,000.00 2.03 12,410.57 1,805,194.451,810,000.00

BARCLAYS BANK PLC NY CERT
DEPOS
DTD 02/03/2022 1.050% 02/01/2023
06742TG34 2,942,500.00 A-1 P-1 2/2/2022 2/3/2022 2,942,500.00 1.05 20,597.50 2,908,349.982,942,500.00

CREDIT SUISSE NEW YORK CERT
DEPOS
DTD 03/23/2021 0.590% 03/17/2023
22552G3C2 2,032,500.00 A-1 P-1 3/19/2021 3/23/2021 2,032,500.00 0.59 6,595.46 1,997,725.962,032,500.00 6,785,000.00 6,785,000.00 39,603.53 6,711,270.39Security Type Sub-Total 1.18 6,785,000.00

ATTACHMENT A
37 © PFM Asset Management LLC pfmam.com

CA ST TXBL GO BONDS
DTD 10/24/2019 2.400% 10/01/2023
13063DRJ9 2,192,500.00 AA- Aa2 10/16/2019 10/24/2019 2,236,371.92 1.87 26,310.00 2,151,785.282,203,635.78

MD ST TXBL GO BONDS
DTD 08/05/2020 0.510% 08/01/2024
574193TQ1 647,500.00 AAA Aaa 7/23/2020 8/5/2020 647,318.70 0.52 550.38 605,412.50647,416.63

SAN DIEGO CCD, CA TXBL GO BONDS
DTD 10/16/2019 2.046% 08/01/2024
797272QP9 725,000.00 AAA Aaa 9/18/2019 10/16/2019 725,000.00 2.05 2,472.25 695,681.00725,000.00

CA ST UNIV TXBL REV BONDS
DTD 09/17/2020 0.685% 11/01/2024
13077DNC2 625,000.00 AA- Aa2 8/27/2020 9/17/2020 625,000.00 0.69 1,783.85 576,481.25625,000.00

CA ST DEPT WTR RES WTR SYS TXBL

REV BNDS
DTD 08/06/2020 0.560% 12/01/2024
13067WRB0 77,500.00 AAA Aa1 7/30/2020 8/6/2020 77,500.00 0.56 144.67 70,788.5077,500.00

UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 300,000.00 AA Aa2 7/10/2020 7/16/2020 300,000.00 0.88 1,000.73 271,683.00300,000.00

UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 460,000.00 AA Aa2 7/14/2020 7/16/2020 461,665.20 0.81 1,534.46 416,580.60460,890.22

FL ST BOARD OF ADMIN TXBL REV
BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 825,000.00 AA Aa3 9/3/2020 9/16/2020 825,000.00 1.26 2,594.63 748,885.50825,000.00

FL ST BOARD OF ADMIN TXBL REV
BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6 1,050,000.00 AA Aa3 9/3/2020 9/16/2020 1,057,423.50 1.11 3,302.25 953,127.001,054,261.40

LOS ANGELES CCD, CA TXBL GO
BONDS
DTD 11/10/2020 0.773% 08/01/2025
54438CYK2 965,000.00 AA+ Aaa 10/30/2020 11/10/2020 965,000.00 0.77 1,243.24 865,180.40965,000.00

NJ TURNPIKE AUTHORITY TXBL REV
BONDS
DTD 02/04/2021 1.047% 01/01/2026
646140DP5 557,500.00 AA- A1 1/22/2021 2/4/2021 557,500.00 1.05 1,459.26 497,267.70557,500.00 8,425,000.00 8,477,779.32 42,395.72 7,852,872.73Security Type Sub-Total 1.27 8,441,204.03 Federal Agency

FREDDIE MAC NOTES
DTD 06/26/2020 0.250% 06/26/2023
3137EAES4 1,452,500.00 AA+ Aaa 6/24/2020 6/26/2020 1,448,258.70 0.35 958.25 1,412,137.931,451,461.95

ATTACHMENT A
38 © PFM Asset Management LLC pfmam.com

FANNIE MAE NOTES
DTD 07/10/2020 0.250% 07/10/2023
3135G05G4 4,285,000.00 AA+ Aaa 7/8/2020 7/10/2020 4,275,787.25 0.32 2,410.31 4,160,002.274,282,627.40

FREDDIE MAC NOTES
DTD 08/21/2020 0.250% 08/24/2023
3137EAEV7 2,292,500.00 AA+ Aaa 8/19/2020 8/21/2020 2,290,161.65 0.28 589.05 2,214,039.192,291,803.61

FANNIE MAE NOTES
DTD 09/14/2018 2.875% 09/12/2023
3135G0U43 6,162,500.00 AA+ Aaa 11/29/2018 11/30/2018 6,136,124.50 2.97 9,350.74 6,085,518.056,157,276.23

FANNIE MAE NOTES
DTD 11/25/2020 0.250% 11/27/2023
3135G06H1 3,047,500.00 AA+ Aaa 1/25/2021 1/26/2021 3,052,132.20 0.20 2,624.24 2,910,746.493,049,388.68

FREDDIE MAC NOTES
DTD 12/04/2020 0.250% 12/04/2023
3137EAFA2 2,222,500.00 AA+ Aaa 12/2/2020 12/4/2020 2,220,299.72 0.28 1,805.78 2,119,560.472,221,637.97

FEDERAL HOME LOAN BANKS NOTES
DTD 12/09/2013 3.375% 12/08/2023
3130A0F70 1,712,500.00 AA+ Aaa 1/30/2019 1/31/2019 1,763,703.75 2.71 18,141.80 1,693,318.291,725,011.98

FEDERAL FARM CREDIT BANK NOTES
DTD 04/08/2020 0.875% 04/08/2024
3133ELVX9 750,000.00 AA+ Aaa 4/7/2020 4/8/2020 750,000.00 0.88 3,153.65 712,583.25750,000.00

FANNIE MAE NOTES
DTD 01/10/2020 1.625% 01/07/2025
3135G0X24 4,380,000.00 AA+ Aaa 3/4/2020 3/5/2020 4,542,673.20 0.84 16,607.50 4,125,578.944,456,232.95

FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025
3130AJHU6 2,460,000.00 AA+ Aaa 4/15/2020 4/16/2020 2,447,798.40 0.60 5,705.83 2,235,399.542,453,805.55

FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 10,880,000.00 AA+ Aaa 6/2/2020 6/3/2020 10,949,305.60 0.49 30,033.33 9,910,896.6410,916,284.43

FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 1,490,000.00 AA+ Aaa 9/17/2020 9/18/2020 1,495,304.40 0.42 2,152.22 1,345,082.601,493,030.21

FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 4,150,000.00 AA+ Aaa 10/2/2020 10/5/2020 4,167,720.50 0.41 5,994.44 3,746,371.004,160,223.37

FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 1,002,500.00 AA+ Aaa 6/17/2020 6/19/2020 1,000,424.83 0.54 1,448.06 904,996.851,001,373.67

FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
3137EAEU9 2,310,000.00 AA+ Aaa 7/21/2020 7/23/2020 2,298,496.20 0.48 1,684.38 2,070,984.302,303,541.73

FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 920,000.00 AA+ Aaa 8/25/2020 8/27/2020 915,694.40 0.47 345.00 821,792.76917,500.20

FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 3,075,000.00 AA+ Aaa 10/22/2020 10/23/2020 3,057,780.00 0.49 1,153.13 2,746,752.983,064,679.69

FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
3137EAEX3 3,545,000.00 AA+ Aaa 9/23/2020 9/25/2020 3,534,329.55 0.44 295.42 3,157,971.083,538,635.17

ATTACHMENT A
39 © PFM Asset Management LLC pfmam.com

FEDERAL FARM CREDIT BANK
(CALLABLE)
DTD 09/29/2020 0.530% 09/29/2025
3133EMBH4 2,265,000.00 AA+ Aaa 10/7/2020 10/9/2020 2,261,036.25 0.57 66.69 2,024,228.242,262,612.15

FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
3135G06G3 1,955,000.00 AA+ Aaa 11/19/2020 11/24/2020 1,954,257.10 0.51 3,910.00 1,740,743.731,954,534.71

FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
3135G06G3 6,190,000.00 AA+ Aaa 12/3/2020 12/4/2020 6,188,885.80 0.50 12,380.00 5,511,613.146,189,298.28 66,547,500.00 66,750,174.00 120,809.82 61,650,317.74Security Type Sub-Total 0.78 66,640,959.93 Corporate

AMERICAN HONDA FINANCE
DTD 01/10/2020 1.950% 05/10/2023
02665WDH1 1,775,000.00 A- A3 1/7/2020 1/10/2020 1,774,343.25 1.96 13,556.56 1,749,273.151,774,880.64

PACCAR FINANCIAL CORP

CORPORATE NOTES
DTD 08/11/2020 0.350% 08/11/2023
69371RQ90 242,500.00 A+ A1 8/4/2020 8/11/2020 242,182.32 0.39 117.88 234,186.13242,408.90

BANK OF NY MELLON CORP CORP
NOTES
DTD 08/13/2018 3.450% 08/11/2023
06406RAJ6 3,367,500.00 A A1 1/30/2019 1/31/2019 3,407,371.20 3.17 16,135.94 3,341,092.073,375,073.84

US BANK NA CINCINNATI CORP

NOTES (CALLAB
DTD 02/04/2019 3.375% 02/05/2024
91159HHV5 1,062,500.00 A+ A2 4/2/2019 4/4/2019 1,085,598.75 2.89 5,578.13 1,044,325.941,068,630.41

MERCK & CO INC (CALLABLE) CORP
NOTES
DTD 03/07/2019 2.900% 03/07/2024
58933YAU9 2,312,500.00 A+ A1 11/19/2021 11/23/2021 2,419,591.87 0.85 4,470.83 2,260,639.882,378,136.95

PFIZER INC CORP NOTES
DTD 03/11/2019 2.950% 03/15/2024
717081ES8 3,200,000.00 A+ A2 6/3/2019 6/5/2019 3,281,376.00 2.38 4,195.56 3,139,635.203,223,805.80

MASTERCARD INC CORP NOTES
DTD 03/31/2014 3.375% 04/01/2024
57636QAB0 2,125,000.00 A+ A1 4/2/2019 4/4/2019 2,194,381.25 2.67 35,859.38 2,089,151.252,145,844.81

MORGAN STANLEY CORP NOTES
(CALLABLE)
DTD 04/22/2021 0.731% 04/05/2024
61772BAA1 1,332,500.00 A- A1 4/20/2021 4/22/2021 1,334,178.95 0.69 4,762.06 1,300,985.041,332,937.99 AMAZON.COM INC CORPORATE
NOTES
DTD 05/12/2021 0.450% 05/12/2024
023135BW5 1,542,500.00 AA A1 5/10/2021 5/12/2021 1,540,247.95 0.50 2,680.09 1,446,848.031,541,289.73

ATTACHMENT A
40 © PFM Asset Management LLC pfmam.com

WALMART INC CORPORATE NOTES
DTD 04/23/2019 2.850% 07/08/2024
931142EL3 4,100,000.00 AA Aa2 5/12/2020 5/14/2020 4,418,693.00 0.94 26,940.42 3,977,508.404,232,109.62

US BANCORP NOTES (CALLABLE)
DTD 07/29/2019 2.400% 07/30/2024
91159HHX1 1,650,000.00 A+ A2 8/1/2019 8/5/2019 1,651,369.50 2.38 6,710.00 1,580,673.601,650,486.87

JPMORGAN CHASE & CO

CORPORATE NOTES (CAL
DTD 09/16/2020 0.653% 09/16/2024
46647PBS4 1,467,500.00 A- A1 9/9/2020 9/16/2020 1,467,500.00 0.65 399.28 1,400,128.541,467,500.00

BANK OF AMERICA CORP
(CALLABLE) CORPORAT
DTD 10/21/2020 0.810% 10/24/2024
06051GJH3 1,907,500.00 A- A2 10/16/2020 10/21/2020 1,907,500.00 0.81 6,738.24 1,812,119.281,907,500.00

JOHN DEERE CAPITAL CORP

CORPORATE NOTES
DTD 01/10/2022 1.250% 01/10/2025
24422EVY2 2,357,500.00 A A2 3/8/2022 3/10/2022 2,298,067.42 2.17 6,630.47 2,184,544.372,309,816.39

MICROSOFT CORP (CALLABLE)
NOTES
DTD 02/12/2015 2.700% 02/12/2025
594918BB9 2,675,000.00 AAA Aaa 3/4/2021 3/8/2021 2,863,881.75 0.87 9,830.63 2,566,681.232,783,554.34

TOYOTA MOTOR CREDIT CORP CORP
NOTES
DTD 02/13/2020 1.800% 02/13/2025
89236TGT6 292,500.00 A+ A1 5/20/2020 5/26/2020 295,357.73 1.58 702.00 273,205.24293,935.50

TOYOTA MOTOR CREDIT CORP CORP
NOTES
DTD 02/13/2020 1.800% 02/13/2025
89236TGT6 1,595,000.00 A+ A1 5/21/2020 5/26/2020 1,616,692.00 1.50 3,828.00 1,489,785.821,605,896.33

NOVARTIS CAPITAL CORP
DTD 02/14/2020 1.750% 02/14/2025
66989HAP3 3,680,000.00 AA- A1 5/8/2020 5/12/2020 3,809,756.80 0.99 8,407.78 3,451,586.083,743,510.94 AMAZON.COM INC CORPORATE
NOTES
DTD 04/13/2022 3.000% 04/13/2025
023135CE4 2,567,500.00 AA A1 4/11/2022 4/13/2022 2,563,417.67 3.06 35,945.00 2,476,348.622,564,054.60 3M COMPANY (CALLABLE)

CORPORATE NOTES
DTD 03/27/2020 2.650% 04/15/2025
88579YBM2 1,450,000.00 A+ A1 4/21/2022 4/25/2022 1,422,595.00 3.32 17,718.19 1,367,856.051,426,607.33

CITIGROUP INC (CALLABLE)

CORPORATE NOTES
DTD 05/04/2021 0.981% 05/01/2025
172967MX6 1,355,000.00 BBB+ A3 4/28/2021 5/4/2021 1,358,590.75 0.91 5,538.56 1,254,151.421,356,898.86

GOLDMAN SACHS GROUP INC

CORPORATE NOTES
DTD 05/22/2015 3.750% 05/22/2025
38148LAE6 1,817,500.00 BBB+ A2 2/12/2021 2/17/2021 2,030,474.65 0.94 24,422.66 1,738,938.561,944,616.52

ATTACHMENT A
41 © PFM Asset Management LLC pfmam.com

HONEYWELL INTL CORP NOTES
(CALLABLE)
DTD 05/18/2020 1.350% 06/01/2025
438516CB0 2,000,000.00 A A2 9/3/2021 9/8/2021 2,039,160.00 0.82 9,000.00 1,839,768.002,027,744.46

JPMORGAN CHASE & CO CORP

NOTES (CALLABLE
DTD 08/10/2021 0.768% 08/09/2025
46647PCM6 1,680,000.00 A- A1 8/3/2021 8/10/2021 1,680,000.00 0.77 1,863.68 1,546,974.241,680,000.00

STATE STREET CORP (CALLABLE)

CORPORATE N
DTD 02/07/2022 1.746% 02/06/2026
857477BR3 437,500.00 A A1 2/2/2022 2/7/2022 437,500.00 1.75 1,167.03 404,827.06437,500.00

STATE STREET CORP NOTES
(CALLABLE)
DTD 10/29/2020 2.901% 03/30/2026
857477BM4 3,750,000.00 A A1 8/8/2022 8/10/2022 3,639,037.50 3.78 302.19 3,537,832.503,643,382.42

BANK OF AMERICA CORP NOTES
(CALLABLE)
DTD 03/22/2022 3.384% 04/02/2026
06051GKM0 1,875,000.00 A- A2 3/17/2022 3/22/2022 1,875,000.00 3.38 33,311.25 1,773,847.501,875,000.00

TARGET CORP CORP NOTES
(CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 2,140,000.00 A A2 1/27/2022 1/31/2022 2,138,694.60 1.96 8,809.67 1,918,227.522,138,869.86

TRUIST FINANCIAL CORP NOTES
(CALLABLE)
DTD 08/03/2020 1.125% 08/03/2027
89788MAC6 2,520,000.00 A- A3 8/5/2022 8/9/2022 2,213,719.20 3.83 4,567.50 2,067,937.202,222,638.37

INTEL CORP NOTES (CALLABLE)
DTD 08/05/2022 3.750% 08/05/2027
458140BY5 2,165,000.00 A+ A1 8/10/2022 8/12/2022 2,165,476.30 3.75 12,629.17 2,055,260.482,165,462.98 60,442,500.00 61,171,755.41 312,818.15 57,324,338.40Security Type Sub-Total 1.98 60,560,094.46 Agency CMBS

FANNIEMAE-ACES
DTD 04/01/2014 3.346% 03/01/2024
3136AJB54 939,150.66 AA+ Aaa 12/13/2019 12/18/2019 984,787.52 2.14 2,618.67 927,898.75954,521.51 FHMS KJ27 A1
DTD 11/01/2019 2.092% 07/01/2024
3137FQ3V3 7,213.95 AA+ Aaa 11/20/2019 11/26/2019 7,213.77 2.09 12.58 7,213.957,213.88 946,364.61 992,001.29 2,631.25 935,112.70Security Type Sub-Total 2.14 961,735.39

ATTACHMENT A
42 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Portfolio Holdings
|
Security Type/Description
Dated 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
NAROT 2019-B A3
DTD 05/28/2019 2.500% 11/15/2023
65479HAC1 56,750.82 NR Aaa 5/21/2019 5/28/2019 56,737.99 2.51 63.06 56,730.7956,747.60 CARMX 2019-2 A3
DTD 04/17/2019 2.680% 03/15/2024
14316LAC7 57,740.91 AAA NR 4/9/2019 4/17/2019 57,735.01 2.68 68.78 57,720.0357,739.16 TAOT 2020-A A3
DTD 02/12/2020 1.660% 05/15/2024
89232HAC9 580,431.01 AAA Aaa 2/4/2020 2/12/2020 580,389.10 1.66 428.23 577,047.50580,415.04 NAROT 2020-B A3
DTD 06/30/2020 0.550% 07/15/2024
65479CAD0 173,871.91 AAA Aaa 6/23/2020 6/30/2020 173,867.15 0.55 42.50 172,202.11173,869.80 CARMX 2020-1 A3
DTD 01/22/2020 1.890% 12/16/2024
14315XAC2 375,242.14 AAA NR 1/14/2020 1/22/2020 375,168.52 1.89 315.20 371,700.68375,208.95 HAROT 2021-1 A3
DTD 02/24/2021 0.270% 04/21/2025
43813GAC5 629,786.74 NR Aaa 2/17/2021 2/24/2021 629,775.22 0.27 47.23 611,749.52629,779.65 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7 572,500.00 AAA NR 4/20/2021 4/28/2021 572,439.77 0.38 96.69 552,640.38572,459.37 CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
14316NAC3 379,813.10 AAA NR 1/20/2021 1/27/2021 379,738.05 0.34 57.39 366,969.15379,763.81 TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
89239BAC5 1,000,000.00 AAA Aaa 9/21/2021 9/27/2021 999,920.30 0.43 191.11 945,908.70999,939.02 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 862,500.00 AAA NR 4/13/2021 4/21/2021 862,314.13 0.52 199.33 835,076.47862,369.80 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 495,000.00 AAA NR 11/9/2021 11/17/2021 494,889.51 0.75 162.80 467,463.45494,910.93 HAROT 2022-2 A3
DTD 08/24/2022 3.730% 07/20/2026
43815PAC3 310,000.00 AAA NR 8/15/2022 8/24/2022 309,981.52 3.73 417.55 303,470.16309,982.01 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
254683CP8 797,500.00 AAA Aaa 9/20/2021 9/27/2021 797,329.25 0.58 205.58 738,316.01797,363.98 6,291,136.63 6,290,285.52 2,295.45 6,056,994.95Security Type Sub-Total 0.88 6,290,549.12 303,582,001.24 301,556,057.54 833,734.82 281,063,013.87Managed Account Sub Total Securities Sub Total
Accrued Interest
$303,582,001.24 $301,556,057.54 $833,734.82 $281,063,013.87 $833,734.82
300,785,996.87
$300,785,996.87

1.40 1.40%
Total Investments $281,896,748.69

ATTACHMENT A
43 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Settl e
Date Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
BUY
8/2/2022 8/3/2022 4,840,000.00 912828ZN3 US TREASURY N/B NOTES 0.50% 4/30/2027 4,338,236.34 2.88% 8/5/2022 8/9/2022 2,520,000.00 89788MAC6 TRUIST FINANCIAL CORP NOTES (CALLABLE) 1.12% 8/3/2027 2,214,191.70 3.83% 8/5/2022 8/9/2022 670,000.00 91282CES6 US TREASURY N/B NOTES 2.75% 5/31/2029 666,221.96 2.93% 8/5/2022 8/9/2022 660,000.00 91282CEP2 US TREASURY N/B NOTES 2.87% 5/15/2032 667,064.07 2.83% 8/8/2022 8/9/2022 3,060,000.00 912828V98 US TREASURY NOTES 2.25% 2/15/2027 2,998,495.56 2.99% 8/8/2022 8/10/2022 3,750,000.00 857477BM4 STATE STREET CORP NOTES (CALLABLE) 2.90% 3/30/2026 3,678,321.88 3.78% 8/8/2022 8/9/2022 2,540,000.00 912828U24 US TREASURY NOTES 2.00% 11/15/2026 2,449,477.99 3.01% 8/10/2022 8/12/2022 2,165,000.00 458140BY5 INTEL CORP NOTES (CALLABLE) 3.75% 8/5/2027 2,167,054.95 3.74% 8/15/2022 8/24/2022 310,000.00 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 309,981.52 3.73% 8/25/2022 8/26/2022 4,215,000.00 912828ZV5 US TREASURY NOTES 0.50% 6/30/2027 3,708,842.06 3.21% 9/1/2022 9/6/2022 2,730,000.00 9128282R0 US TREASURY NOTES 2.25% 8/15/2027 2,591,946.76 3.40% 9/12/2022 9/12/2022 1,925,000.00 91282CAN1 US TREASURY NOTES 0.12% 9/30/2022 1,924,054.51 2.27% 9/16/2022 9/16/2022 2,130,000.00 91282CAN1 US TREASURY NOTES 0.12% 9/30/2022 2,129,398.94 2.37% 9/29/2022 9/30/2022 4,180,000.00 91282CAR2 US TREASURY NOTES 0.12% 10/31/2022 4,172,865.32 2.77% Total BUY 35,695,000.00 34,016,153.56 0.00

INTEREST
7/1/2022 7/25/2022 1,718,729.45 3137AWQH1 FHLMC MULTIFAMILY STRUCTURED P 2.30% 8/1/2022 3,304.26

ATTACHMENT A
44 © PFM Asset Management LLC pfmam.com

INTEREST
7/1/2022 7/25/2022 288,272.24 3137BM6P6 FHLMC SERIES K721 A2 3.09% 8/1/2022 742.30 7/1/2022 7/1/2022 MONEY0002 MONEY MARKET FUND 1,135.23
7/1/2022 7/1/2022 3,750,000.00 341271AD6 FL ST BOARD OF ADMIN TXBL REV BONDS 1.25% 7/1/2025 23,587.50 7/1/2022 7/1/2022 1,115,000.00 646140DP5 NJ TURNPIKE AUTHORITY TXBL REV BONDS 1.04% 1/1/2026 5,837.03 7/1/2022 7/25/2022 102,663.57 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 178.98 7/1/2022 7/25/2022 1,911,720.85 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 5,439.47 7/7/2022 7/7/2022 8,760,000.00 3135G0X24 FANNIE MAE NOTES 1.62% 1/7/2025 35,587.50 7/8/2022 7/8/2022 8,200,000.00 931142EL3 WALMART INC CORPORATE NOTES 2.85% 7/8/2024 58,425.00 7/10/2022 7/10/2022 8,570,000.00 3135G05G4 FANNIE MAE NOTES 0.25% 7/10/2023 5,356.25 7/10/2022 7/10/2022 4,715,000.00 24422EVY2 JOHN DEERE CAPITAL CORP CORPORATE NOTES 1.25% 1/10/2025 14,734.38 7/15/2022 7/15/2022 1,725,000.00 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 747.50 7/15/2022 7/15/2022 988,471.68 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 1,556.84 7/15/2022 7/15/2022 860,000.00 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 243.67 7/15/2022 7/15/2022 364,137.15 65479HAC1 NAROT 2019-B A3 2.50% 11/15/2023 758.62 7/15/2022 7/15/2022 282,044.13 14316LAC7 CARMX 2019-2 A3 2.68% 3/15/2024 629.90 7/15/2022 7/15/2022 99,526.97 14042WAC4 COPAR 2019-1 A3 2.51% 11/15/2023 208.18 7/15/2022 7/15/2022 181,815.61 65479KAD2 NAROT 2019-A A3 2.90% 10/15/2023 439.39

ATTACHMENT A
45 © PFM Asset Management LLC pfmam.com

INTEREST
7/15/2022 7/15/2022 1,708,265.48 89232HAC9 TAOT 2020-A A3 1.66% 5/15/2024 2,363.10 7/15/2022 7/15/2022 2,000,000.00 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 716.67 7/15/2022 7/15/2022 499,855.89 65479CAD0 NAROT 2020-B A3 0.55% 7/15/2024 229.10 7/15/2022 7/15/2022 990,000.00 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 610.50 7/15/2022 7/15/2022 4,280,000.00 87612EBM7 TARGET CORP CORP NOTES (CALLABLE) 1.95% 1/15/2027 39,643.50 7/15/2022 7/15/2022 1,595,000.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 770.92 7/15/2022 7/15/2022 1,145,000.00 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 362.58 7/21/2022 7/21/2022 4,620,000.00 3137EAEU9 FREDDIE MAC NOTES 0.37% 7/21/2025 4,331.25 7/21/2022 7/21/2022 1,445,000.00 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 325.13 7/21/2022 7/21/2022 215,902.20 43815MAC0 HAROT 2019-2 A3 2.52% 6/21/2023 453.39 7/30/2022 7/30/2022 1,650,000.00 91159HHX1 US BANCORP NOTES (CALLABLE) 2.40% 7/30/2024 19,800.00 7/31/2022 7/31/2022 540,000.00 91282CBJ9 US TREASURY NOTES 0.75% 1/31/2028 2,025.00 7/31/2022 7/31/2022 17,305,000.00 91282CBH3 US TREASURY NOTES 0.37% 1/31/2026 32,446.88 7/31/2022 7/31/2022 1,250,000.00 9128282N9 US TREASURY NOTES 2.12% 7/31/2024 13,281.25 7/31/2022 7/31/2022 807,500.00 912828S92 US TREASURY NOTES 1.25% 7/31/2023 5,046.88 7/31/2022 7/31/2022 1,707,500.00 9128286A3 US TREASURY NOTES 2.62% 1/31/2026 22,410.94 8/1/2022 8/1/2022 647,500.00 574193TQ1 MD ST TXBL GO BONDS 0.51% 8/1/2024 1,651.13

ATTACHMENT A
46 © PFM Asset Management LLC pfmam.com

INTEREST
8/1/2022 8/1/2022 MONEY0002 MONEY MARKET FUND 5,596.35
8/1/2022 8/1/2022 965,000.00 54438CYK2 LOS ANGELES CCD, CA TXBL GO BONDS 0.77% 8/1/2025 3,729.73 8/1/2022 8/25/2022 65,866.36 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 57.41 8/1/2022 8/25/2022 1,885,849.79 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 2,629.06 8/1/2022 8/1/2022 725,000.00 797272QP9 SAN DIEGO CCD, CA TXBL GO BONDS 2.04% 8/1/2024 7,416.75 8/5/2022 8/5/2022 1,062,500.00 91159HHV5 US BANK NA CINCINNATI CORP NOTES (CALLAB 3.37% 2/5/2024 17,929.69 8/6/2022 8/6/2022 437,500.00 857477BR3 STATE STREET CORP (CALLABLE) CORPORATE N 1.74% 2/6/2026 3,798.16 8/9/2022 8/9/2022 1,680,000.00 46647PCM6 JPMORGAN CHASE & CO CORP NOTES (CALLABLE 0.76% 8/9/2025 6,451.20 8/11/2022 8/11/2022 242,500.00 69371RQ90 PACCAR FINANCIAL CORP CORPORATE NOTES 0.35% 8/11/2023 424.38 8/11/2022 8/11/2022 3,367,500.00 06406RAJ6 BANK OF NY MELLON CORP CORP NOTES 3.45% 8/11/2023 58,089.38 8/12/2022 8/12/2022 3137BM6P6 FHLMC SERIES K721 A2 3.09% 8/1/2022 -15.30 8/12/2022 8/12/2022 2,675,000.00 594918BB9 MICROSOFT CORP (CALLABLE) NOTES 2.70% 2/12/2025 36,112.50 8/13/2022 8/13/2022 1,887,500.00 89236TGT6 TOYOTA MOTOR CREDIT CORP CORP NOTES 1.80% 2/13/2025 16,987.50 8/14/2022 8/14/2022 3,680,000.00 66989HAP3 NOVARTIS CAPITAL CORP 1.75% 2/14/2025 32,200.00 8/15/2022 8/15/2022 452,954.55 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 713.40 8/15/2022 8/15/2022 542,500.00 912828Z94 US TREASURY NOTES 1.50% 2/15/2030 4,068.75 8/15/2022 8/15/2022 27,664.16 14042WAC4 COPAR 2019-1 A3 2.51% 11/15/2023 57.86

ATTACHMENT A
47 © PFM Asset Management LLC pfmam.com

INTEREST
8/15/2022 8/15/2022 565,000.00 91282CBL4 US TREASURY NOTES 1.12% 2/15/2031 3,178.13 8/15/2022 8/15/2022 3,010,000.00 91282CCT6 US TREASURY N/B NOTES 0.37% 8/15/2024 5,643.75 8/15/2022 8/15/2022 427,686.98 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 121.18 8/15/2022 8/15/2022 1,000,000.00 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 358.33 8/15/2022 8/15/2022 495,000.00 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 305.25 8/15/2022 8/15/2022 759,227.77 89232HAC9 TAOT 2020-A A3 1.66% 5/15/2024 1,050.27 8/15/2022 8/15/2022 587,500.00 91282CAE1 US TREASURY NOTES 0.62% 8/15/2030 1,835.94 8/15/2022 8/15/2022 223,829.37 65479CAD0 NAROT 2020-B A3 0.55% 7/15/2024 102.59 8/15/2022 8/15/2022 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.46 8/15/2022 8/15/2022 112,187.59 14316LAC7 CARMX 2019-2 A3 2.68% 3/15/2024 250.55 8/15/2022 8/15/2022 48,680.95 65479KAD2 NAROT 2019-A A3 2.90% 10/15/2023 117.65 8/15/2022 8/15/2022 500,000.00 9128286B1 US TREASURY NOTES 2.62% 2/15/2029 6,562.50 8/15/2022 8/15/2022 562,500.00 91282CCS8 US TREASURY N/B NOTES 1.25% 8/15/2031 3,515.63 8/15/2022 8/15/2022 862,500.00 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 373.75 8/15/2022 8/15/2022 572,500.00 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 181.29 8/15/2022 8/15/2022 855,000.00 912828V98 US TREASURY NOTES 2.25% 2/15/2027 9,618.75 8/15/2022 8/15/2022 520,000.00 912828YB0 US TREASURY NOTES 1.62% 8/15/2029 4,225.00

ATTACHMENT A
48 © PFM Asset Management LLC pfmam.com

INTEREST
8/15/2022 8/15/2022 139,208.47 65479HAC1 NAROT 2019-B A3 2.50% 11/15/2023 290.02 8/21/2022 8/21/2022 722,500.00 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 162.56 8/21/2022 8/21/2022 64,880.66 43815MAC0 HAROT 2019-2 A3 2.52% 6/21/2023 136.25 8/24/2022 8/24/2022 2,292,500.00 3137EAEV7 FREDDIE MAC NOTES 0.25% 8/24/2023 2,865.63 8/25/2022 8/25/2022 3,995,000.00 3135G05X7 FANNIE MAE NOTES 0.37% 8/25/2025 7,490.63 8/31/2022 8/31/2022 8,820,000.00 91282CAJ0 US TREASURY NOTES 0.25% 8/31/2025 11,025.00 8/31/2022 8/31/2022 4,472,500.00 912828ZC7 US TREASURY NOTES 1.12% 2/28/2025 25,157.81 8/31/2022 8/31/2022 1,709,500.00 9128286G0 US TREASURY NOTES 2.37% 2/29/2024 20,300.31 8/31/2022 8/31/2022 12,670,000.00 91282CBQ3 US TREASURY NOTES 0.50% 2/28/2026 31,675.00 8/31/2022 8/31/2022 7,137,500.00 9128282U3 US TREASURY NOTES 1.87% 8/31/2024 66,914.06 9/1/2022 9/1/2022 MONEY0002 MONEY MARKET FUND 1,104.30
9/1/2022 9/25/2022 7,714.54 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 13.45 9/1/2022 9/25/2022 941,041.80 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 2,623.94 9/7/2022 9/7/2022 2,312,500.00 58933YAU9 MERCK & CO INC (CALLABLE) CORP NOTES 2.90% 3/7/2024 33,531.25 9/12/2022 9/12/2022 6,162,500.00 3135G0U43 FANNIE MAE NOTES 2.87% 9/12/2023 88,585.94 9/15/2022 9/15/2022 495,000.00 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 305.25 9/15/2022 9/15/2022 862,500.00 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 373.75

ATTACHMENT A
49 © PFM Asset Management LLC pfmam.com

INTEREST
9/15/2022 9/15/2022 3,200,000.00 717081ES8 PFIZER INC CORP NOTES 2.95% 3/15/2024 47,200.00 9/15/2022 9/15/2022 98,072.38 65479HAC1 NAROT 2019-B A3 2.50% 11/15/2023 204.32 9/15/2022 9/15/2022 403,313.77 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 114.27 9/15/2022 9/15/2022 1,577,500.00 91282CCX7 US TREASURY N/B NOTES 0.37% 9/15/2024 2,957.81 9/15/2022 9/15/2022 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.46 9/15/2022 9/15/2022 672,239.77 89232HAC9 TAOT 2020-A A3 1.66% 5/15/2024 929.93 9/15/2022 9/15/2022 8,797.50 65479KAD2 NAROT 2019-A A3 2.90% 10/15/2023 21.26 9/15/2022 9/15/2022 413,154.61 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 650.72 9/15/2022 9/15/2022 1,000,000.00 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 358.33 9/15/2022 9/15/2022 84,240.97 14316LAC7 CARMX 2019-2 A3 2.68% 3/15/2024 188.14 9/15/2022 9/15/2022 572,500.00 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 181.29 9/15/2022 9/15/2022 7,451.50 14042WAC4 COPAR 2019-1 A3 2.51% 11/15/2023 15.59 9/15/2022 9/15/2022 199,395.59 65479CAD0 NAROT 2020-B A3 0.55% 7/15/2024 91.39 9/16/2022 9/16/2022 1,467,500.00 46647PBS4 JPMORGAN CHASE & CO CORPORATE NOTES (CAL 0.65% 9/16/2024 4,791.39 9/18/2022 9/18/2022 310,000.00 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 770.87 9/21/2022 9/21/2022 676,228.09 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 152.15 9/21/2022 9/21/2022 24,373.86 43815MAC0 HAROT 2019-2 A3 2.52% 6/21/2023 51.19

ATTACHMENT A
50 © PFM Asset Management LLC pfmam.com

INTEREST
9/23/2022 9/23/2022 4,190,000.00 4581X0DZ8 INTER-AMERICAN DEVEL BK NOTES 0.50% 9/23/2024 10,475.00 9/23/2022 9/23/2022 3,545,000.00 3137EAEX3 FREDDIE MAC NOTES 0.37% 9/23/2025 6,646.88 9/29/2022 9/29/2022 2,265,000.00 3133EMBH4 FEDERAL FARM CREDIT BANK (CALLABLE) 0.53% 9/29/2025 6,002.25 9/30/2022 9/30/2022 525,000.00 91282CCY5 US TREASURY N/B NOTES 1.25% 9/30/2028 3,281.25 9/30/2022 9/30/2022 3,750,000.00 857477BM4 STATE STREET CORP NOTES (CALLABLE) 2.90% 3/30/2026 54,393.75 9/30/2022 9/30/2022 3,700,000.00 91282CCZ2 US TREASURY N/B NOTES 0.87% 9/30/2026 16,187.50 9/30/2022 9/30/2022 2,965,000.00 912828W71 US TREASURY NOTES 2.12% 3/31/2024 31,503.13 9/30/2022 9/30/2022 2,500,000.00 912828T26 US TREASURY NOTES 1.37% 9/30/2023 17,187.50 Total INTEREST 205,392,466.25 1,036,749.58 0.00

MATURITY
8/1/2022 8/1/2022 159,819.88 3137AWQH1 FHLMC MULTIFAMILY STRUCTURED P 2.30% 8/1/2022 160,127.13 8/1/2022 8/1/2022 12,141.51 3137BM6P6 FHLMC SERIES K721 A2 3.09% 8/1/2022 12,172.77 8/26/2022 8/26/2022 3,682,500.00 83050PDR7 SKANDINAV ENSKILDA BANK LT CD 1.86% 8/26/2022 3,716,937.51 9/12/2022 9/12/2022 1,925,000.00 19423KJC9 COLLAT CP FLEX CO LLC COMM PAPER 0.00% 9/12/2022 1,925,000.00 9/16/2022 9/16/2022 1,625,000.00 53127UJG6 LIBERTY STREET FDG LLC COMM PAPER 0.00% 9/16/2022 1,625,000.00 9/30/2022 9/30/2022 2,130,000.00 91282CAN1 US TREASURY NOTES 0.12% 9/30/2022 2,131,331.25

ATTACHMENT A
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MATURITY
9/30/2022 9/30/2022 1,920,000.00 91282CAN1 US TREASURY NOTES 0.12% 9/30/2022 1,921,200.00 Total MATURITY 11,454,461.39 11,491,768.66 0.00

PAYDOWNS
7/1/2022 7/25/2022 263,989.15 3137BM6P6 FHLMC SERIES K721 A2 3.09% 8/1/2022 263,989.15 7/1/2022 7/25/2022 1,399,089.70 3137AWQH1 FHLMC MULTIFAMILY STRUCTURED P 2.30% 8/1/2022 1,399,089.70 7/1/2022 7/25/2022 25,871.06 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 25,871.06 7/1/2022 7/25/2022 36,797.21 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 36,797.21 7/15/2022 7/15/2022 84,453.70 65479KAD2 NAROT 2019-A A3 2.90% 10/15/2023 84,453.70 7/15/2022 7/15/2022 85,720.21 65479HAC1 NAROT 2019-B A3 2.50% 11/15/2023 85,720.21 7/15/2022 7/15/2022 189,809.96 89232HAC9 TAOT 2020-A A3 1.66% 5/15/2024 189,809.96 7/15/2022 7/15/2022 44,198.64 14042WAC4 COPAR 2019-1 A3 2.51% 11/15/2023 44,198.64 7/15/2022 7/15/2022 57,668.98 14316LAC7 CARMX 2019-2 A3 2.68% 3/15/2024 57,668.98 7/15/2022 7/15/2022 52,197.14 65479CAD0 NAROT 2020-B A3 0.55% 7/15/2024 52,197.14 7/15/2022 7/15/2022 82,562.57 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 82,562.57 7/15/2022 7/15/2022 4,626.03 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 4,626.03 7/21/2022 7/21/2022 86,140.88 43815MAC0 HAROT 2019-2 A3 2.52% 6/21/2023 86,140.88 8/1/2022 8/25/2022 25,218.62 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 25,218.62

ATTACHMENT A
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PAYDOWNS
8/1/2022 8/25/2022 1,883.10 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,883.10 8/15/2022 8/15/2022 39,883.45 65479KAD2 NAROT 2019-A A3 2.90% 10/15/2023 39,883.45 8/15/2022 8/15/2022 20,212.66 14042WAC4 COPAR 2019-1 A3 2.51% 11/15/2023 20,212.66 8/15/2022 8/15/2022 41,136.09 65479HAC1 NAROT 2019-B A3 2.50% 11/15/2023 41,136.09 8/15/2022 8/15/2022 27,946.62 14316LAC7 CARMX 2019-2 A3 2.68% 3/15/2024 27,946.62 8/15/2022 8/15/2022 39,799.94 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 39,799.94 8/15/2022 8/15/2022 24,433.78 65479CAD0 NAROT 2020-B A3 0.55% 7/15/2024 24,433.78 8/15/2022 8/15/2022 24,373.21 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 24,373.21 8/15/2022 8/15/2022 86,988.00 89232HAC9 TAOT 2020-A A3 1.66% 5/15/2024 86,988.00 8/21/2022 8/21/2022 40,506.80 43815MAC0 HAROT 2019-2 A3 2.52% 6/21/2023 40,506.80 8/21/2022 8/21/2022 46,271.91 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 46,271.91 9/1/2022 9/25/2022 500.59 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 500.59 9/1/2022 9/25/2022 1,891.14 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 1,891.14 9/15/2022 9/15/2022 25,523.68 65479CAD0 NAROT 2020-B A3 0.55% 7/15/2024 25,523.68 9/15/2022 9/15/2022 37,912.47 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 37,912.47 9/15/2022 9/15/2022 26,500.06 14316LAC7 CARMX 2019-2 A3 2.68% 3/15/2024 26,500.06 9/15/2022 9/15/2022 8,797.50 65479KAD2 NAROT 2019-A A3 2.90% 10/15/2023 8,797.50

ATTACHMENT A
53 © PFM Asset Management LLC pfmam.com

PAYDOWNS
9/15/2022 9/15/2022 7,451.50 14042WAC4 COPAR 2019-1 A3 2.51% 11/15/2023 7,451.50 9/15/2022 9/15/2022 91,808.76 89232HAC9 TAOT 2020-A A3 1.66% 5/15/2024 91,808.76 9/15/2022 9/15/2022 41,321.56 65479HAC1 NAROT 2019-B A3 2.50% 11/15/2023 41,321.56 9/15/2022 9/15/2022 23,500.67 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 23,500.67 9/21/2022 9/21/2022 24,373.86 43815MAC0 HAROT 2019-2 A3 2.52% 6/21/2023 24,373.86 9/21/2022 9/21/2022 46,441.35 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 46,441.35 Total PAYDOWNS 3,167,802.55 3,167,802.55 0.00
SELL
8/5/2022 8/9/2022 3,630,000.00 3137EAER6 FREDDIE MAC NOTES 0.37% 5/5/2023 3,557,215.48 -81,104.54 8/8/2022 8/9/2022 5,450,000.00 912828WE6 US TREASURY NOTES 2.75% 11/15/2023 5,452,239.98 -47,688.37 8/8/2022 8/10/2022 3,800,000.00 3135G04Q3 FANNIE MAE NOTES 0.25% 5/22/2023 3,713,632.33 -85,448.99 8/10/2022 8/12/2022 2,205,000.00 912828V98 US TREASURY NOTES 2.25% 2/15/2027 2,164,967.76 3,751.87 9/1/2022 9/6/2022 2,000,000.00 3137EAES4 FREDDIE MAC NOTES 0.25% 6/26/2023 1,948,292.22 -51,117.33 9/21/2022 9/21/2022 5,000.00 91282CAN1 US TREASURY NOTES 0.12% 9/30/2022 5,000.43 0.09 Total SELL 17,090,000.00 16,841,348.20 -261,607.27

ATTACHMENT A
54 © PFM Asset Management LLC pfmam.com

TRANSFER OUT
7/1/2022 7/1/2022 1,810,000.00 23341VZT1 DNB BANK ASA/NY LT CD 2.04% 12/2/2022 1,807,948.06 2.00% -5,026.37 7/1/2022 7/1/2022 540,000.00 91282CBJ9 US TREASURY NOTES 0.75% 1/31/2028 477,226.86 2.23% -24,937.05 7/1/2022 7/1/2022 4,190,000.00 4581X0DZ8 INTER-AMERICAN DEVEL BK NOTES 0.50% 9/23/2024 3,966,836.88 0.53% -226,560.53 7/1/2022 7/1/2022 2,460,000.00 3130AJHU6 FEDERAL HOME LOAN BANK NOTES 0.50% 4/14/2025 2,293,815.79 0.68% -162,005.16 7/1/2022 7/1/2022 1,875,000.00 06051GKM0 BANK OF AMERICA CORP NOTES (CALLABLE) 3.38% 4/2/2026 1,834,946.25 3.38% -57,502.50 7/1/2022 7/1/2022 1,060,000.00 912828YM6 US TREASURY NOTES 1.50% 10/31/2024 1,026,572.55 -0.35% -64,422.99 7/1/2022 7/1/2022 2,942,500.00 06742TG34 BARCLAYS BANK PLC NY CERT DEPOS 1.05% 2/1/2023 2,911,208.62 1.05% -43,993.17 7/1/2022 7/1/2022 750,000.00 3133ELVX9 FEDERAL FARM CREDIT BANK NOTES 0.87% 4/8/2024 723,820.77 0.87% -27,692.25 7/1/2022 7/1/2022 1,570,000.00 91282CBV2 US TREASURY N/B NOTES 0.37% 4/15/2024 1,499,852.62 0.41% -70,776.99 7/1/2022 7/1/2022 2,257,500.00 912828X70 US TREASURY NOTES 2.00% 4/30/2024 2,225,247.92 1.75% -43,679.86 7/1/2022 7/1/2022 1,870,000.00 459058JM6 INTL BK RECON & DEVELOP NOTES 0.25% 11/24/2023 1,801,226.91 0.40% -67,377.35 7/1/2022 7/1/2022 1,467,500.00 46647PBS4 JPMORGAN CHASE & CO CORPORATE NOTES (CAL 0.65% 9/16/2024 1,413,084.50 0.65% -57,210.48 7/1/2022 7/1/2022 3,367,500.00 06406RAJ6 BANK OF NY MELLON CORP CORP NOTES 3.45% 8/11/2023 3,423,224.28 2.36% 750.72 7/1/2022 7/1/2022 807,500.00 912828S92 US TREASURY NOTES 1.25% 7/31/2023 797,200.58 5.32% -5,956.24 7/1/2022 7/1/2022 1,597,500.00 912828ZW3 US TREASURY NOTES 0.25% 6/30/2025 1,470,459.76 0.81% -105,845.05 7/1/2022 7/1/2022 1,925,000.00 19423KJC9 COLLAT CP FLEX CO LLC COMM PAPER 0.00% 9/12/2022 1,916,191.20 2.33% -2,446.14 7/1/2022 7/1/2022 725,000.00 797272QP9 SAN DIEGO CCD, CA TXBL GO BONDS 2.04% 8/1/2024 714,353.38 2.05% -16,827.25

ATTACHMENT A
55 © PFM Asset Management LLC pfmam.com

TRANSFER OUT
7/1/2022 7/1/2022 5,715,000.00 912828XX3 US TREASURY NOTES 2.00% 6/30/2024 5,606,368.42 1.47% -132,529.48 7/1/2022 7/1/2022 437,500.00 857477BR3 STATE STREET CORP (CALLABLE) CORPORATE N 1.74% 2/6/2026 423,292.19 1.75% -17,263.31 7/1/2022 7/1/2022 1,907,500.00 06051GJH3 BANK OF AMERICA CORP (CALLABLE) CORPORAT 0.81% 10/24/2024 1,822,102.19 0.81% -88,273.37 7/1/2022 7/1/2022 2,292,500.00 3137EAEV7 FREDDIE MAC NOTES 0.25% 8/24/2023 2,225,008.68 0.34% -68,620.86 7/1/2022 7/1/2022 2,965,000.00 912828W71 US TREASURY NOTES 2.12% 3/31/2024 2,936,825.78 0.54% -107,941.26 7/1/2022 7/1/2022 4,380,000.00 3135G0X24 FANNIE MAE NOTES 1.62% 1/7/2025 4,261,263.31 0.15% -237,831.00 7/1/2022 7/1/2022 1,577,500.00 91282CCX7 US TREASURY N/B NOTES 0.37% 9/15/2024 1,490,008.77 0.54% -84,925.27 7/1/2022 7/1/2022 2,997,500.00 912828ZL7 US TREASURY NOTES 0.37% 4/30/2025 2,783,011.77 0.84% -189,132.92 7/1/2022 7/1/2022 2,567,500.00 023135CE4 AMAZON.COM INC CORPORATE NOTES 3.00% 4/13/2025 2,561,887.45 3.06% -18,513.23 7/1/2022 7/1/2022 2,310,000.00 3137EAEU9 FREDDIE MAC NOTES 0.37% 7/21/2025 2,132,341.75 0.54% -174,469.74 7/1/2022 7/1/2022 2,222,500.00 3137EAFA2 FREDDIE MAC NOTES 0.25% 12/4/2023 2,137,750.52 0.32% -84,119.31 7/1/2022 7/1/2022 2,675,000.00 594918BB9 MICROSOFT CORP (CALLABLE) NOTES 2.70% 2/12/2025 2,681,363.83 -142,997.19 7/1/2022 7/1/2022 3,682,500.00 83050PDR7 SKANDINAV ENSKILDA BANK LT CD 1.86% 8/26/2022 3,705,719.39 1.82% -563.42 7/1/2022 7/1/2022 1,062,500.00 91159HHV5 US BANK NA CINCINNATI CORP NOTES (CALLAB 3.37% 2/5/2024 1,079,060.66 1.98% -5,336.14 7/1/2022 7/1/2022 5,462,500.00 912828WE6 US TREASURY NOTES 2.75% 11/15/2023 5,463,762.00 2.00% -34,119.17 7/1/2022 7/1/2022 562,500.00 91282CCS8 US TREASURY N/B NOTES 1.25% 8/15/2031 486,831.00 2.66% -15,844.73 7/1/2022 7/1/2022 4,100,000.00 931142EL3 WALMART INC CORPORATE NOTES 2.85% 7/8/2024 4,135,234.72 -0.95% -107,019.12

ATTACHMENT A
56 © PFM Asset Management LLC pfmam.com

TRANSFER OUT
7/1/2022 7/1/2022 525,000.00 91282CCY5 US TREASURY N/B NOTES 1.25% 9/30/2028 471,852.72 2.21% -26,717.02 7/1/2022 7/1/2022 542,500.00 912828Z94 US TREASURY NOTES 1.50% 2/15/2030 490,290.00 2.70% -12,063.71 7/1/2022 7/1/2022 1,707,500.00 9128286A3 US TREASURY NOTES 2.62% 1/31/2026 1,701,384.40 -0.34% -156,067.81 7/1/2022 7/1/2022 1,700,000.00 9128283D0 US TREASURY NOTES 2.25% 10/31/2024 1,677,225.54 0.83% -55,240.41 7/1/2022 7/1/2022 1,712,500.00 3130A0F70 FEDERAL HOME LOAN BANKS NOTES 3.37% 12/8/2023 1,724,710.56 1.27% -6,652.43 7/1/2022 7/1/2022 1,680,000.00 46647PCM6 JPMORGAN CHASE & CO CORP NOTES (CALLABLE 0.76% 8/9/2025 1,565,357.36 0.77% -119,731.92 7/1/2022 7/1/2022 4,257,500.00 912828U57 US TREASURY NOTES 2.12% 11/30/2023 4,215,270.13 3.43% -27,843.77 7/1/2022 7/1/2022 1,625,000.00 53127UJG6 LIBERTY STREET FDG LLC COMM PAPER 0.00% 9/16/2022 1,617,226.00 2.55% -301.26 7/1/2022 7/1/2022 3,800,000.00 3135G04Q3 FANNIE MAE NOTES 0.25% 5/22/2023 3,715,981.37 0.59% -81,652.96 7/1/2022 7/1/2022 242,500.00 69371RQ90 PACCAR FINANCIAL CORP CORPORATE NOTES 0.35% 8/11/2023 235,112.27 0.47% -7,600.02 7/1/2022 7/1/2022 3,200,000.00 717081ES8 PFIZER INC CORP NOTES 2.95% 3/15/2024 3,215,773.16 1.43% -40,191.02 7/1/2022 7/1/2022 1,775,000.00 02665WDH1 AMERICAN HONDA FINANCE 1.95% 5/10/2023 1,760,866.57 1.99% -18,867.82 7/1/2022 7/1/2022 2,125,000.00 57636QAB0 MASTERCARD INC CORP NOTES 3.37% 4/1/2024 2,144,457.57 1.48% -22,816.42 7/1/2022 7/1/2022 3,500,000.00 91282CAT8 US TREASURY NOTES 0.25% 10/31/2025 3,190,302.48 0.90% -250,434.35 7/1/2022 7/1/2022 3,680,000.00 66989HAP3 NOVARTIS CAPITAL CORP 1.75% 2/14/2025 3,573,072.90 0.40% -201,935.06 7/1/2022 7/1/2022 2,500,000.00 912828T26 US TREASURY NOTES 1.37% 9/30/2023 2,459,421.96 1.65% -46,659.82 7/1/2022 7/1/2022 2,000,000.00 438516CB0 HONEYWELL INTL CORP NOTES (CALLABLE) 1.35% 6/1/2025 1,888,242.00 0.67% -144,459.24

ATTACHMENT A
57 © PFM Asset Management LLC pfmam.com

TRANSFER OUT
7/1/2022 7/1/2022 647,500.00 574193TQ1 MD ST TXBL GO BONDS 0.51% 8/1/2024 616,889.44 0.52% -31,891.68 7/1/2022 7/1/2022 77,500.00 13067WRB0 CA ST DEPT WTR RES WTR SYS TXBL REV BNDS 0.56% 12/1/2024 72,438.22 0.56% -5,097.95 7/1/2022 7/1/2022 6,162,500.00 3135G0U43 FANNIE MAE NOTES 2.87% 9/12/2023 6,210,049.00 3.24% 518.04 7/1/2022 7/1/2022 1,650,000.00 91159HHX1 US BANCORP NOTES (CALLABLE) 2.40% 7/30/2024 1,625,762.60 2.36% -41,404.69 7/1/2022 7/1/2022 2,192,500.00 13063DRJ9 CA ST TXBL GO BONDS 2.40% 10/1/2023 2,183,466.90 0.79% -36,130.71 7/1/2022 7/1/2022 557,500.00 646140DP5 NJ TURNPIKE AUTHORITY TXBL REV BONDS 1.04% 1/1/2026 509,058.83 1.05% -48,441.17 7/1/2022 7/1/2022 3,545,000.00 3137EAEX3 FREDDIE MAC NOTES 0.37% 9/23/2025 3,257,184.40 0.47% -284,531.42 7/1/2022 7/1/2022 2,312,500.00 58933YAU9 MERCK & CO INC (CALLABLE) CORP NOTES 2.90% 3/7/2024 2,319,035.90 0.14% -92,561.41 7/1/2022 7/1/2022 1,250,000.00 9128282N9 US TREASURY NOTES 2.12% 7/31/2024 1,239,009.69 0.60% -38,575.93 7/1/2022 7/1/2022 2,032,500.00 22552G3C2 CREDIT SUISSE NEW YORK CERT DEPOS 0.59% 3/17/2023 1,996,460.16 0.58% -39,570.74 7/1/2022 7/1/2022 500,000.00 9128286B1 US TREASURY NOTES 2.62% 2/15/2029 491,649.69 2.32% -22,337.06 7/1/2022 7/1/2022 3,452,500.00 3137EAES4 FREDDIE MAC NOTES 0.25% 6/26/2023 3,364,339.46 0.55% -84,966.02 7/1/2022 7/1/2022 587,500.00 91282CAE1 US TREASURY NOTES 0.62% 8/15/2030 488,453.71 2.71% -14,039.52 7/1/2022 7/1/2022 625,000.00 13077DNC2 CA ST UNIV TXBL REV BONDS 0.68% 11/1/2024 591,494.79 0.68% -34,218.75 7/1/2022 7/1/2022 230,000.00 9128285U0 US TREASURY NOTES 2.62% 12/31/2023 228,794.54 2.42% -1,430.33 7/1/2022 7/1/2022 520,000.00 912828YB0 US TREASURY NOTES 1.62% 8/15/2029 476,537.09 2.32% -24,033.65 7/1/2022 7/1/2022 1,572,500.00 91282CAW1 US TREASURY NOTES 0.25% 11/15/2023 1,515,261.78 0.33% -56,619.01

ATTACHMENT A
58 © PFM Asset Management LLC pfmam.com

TRANSFER OUT
7/1/2022 7/1/2022 3,700,000.00 91282CCZ2 US TREASURY N/B NOTES 0.87% 9/30/2026 3,387,278.42 2.87% -42,832.65 7/1/2022 7/1/2022 1,542,500.00 023135BW5 AMAZON.COM INC CORPORATE NOTES 0.45% 5/12/2024 1,467,344.00 0.53% -74,701.47 7/1/2022 7/1/2022 1,817,500.00 38148LAE6 GOLDMAN SACHS GROUP INC CORPORATE NOTES 3.75% 5/22/2025 1,802,112.14 -0.28% -163,253.36 7/1/2022 7/1/2022 1,450,000.00 88579YBM2 3M COMPANY (CALLABLE) CORPORATE NOTES 2.65% 4/15/2025 1,422,730.49 3.36% -9,667.18 7/1/2022 7/1/2022 2,357,500.00 24422EVY2 JOHN DEERE CAPITAL CORP CORPORATE NOTES 1.25% 1/10/2025 2,246,356.85 2.28% -72,184.50 7/1/2022 7/1/2022 3,010,000.00 91282CCT6 US TREASURY N/B NOTES 0.37% 8/15/2024 2,851,042.02 0.44% -160,355.17 7/1/2022 7/1/2022 2,265,000.00 3133EMBH4 FEDERAL FARM CREDIT BANK (CALLABLE) 0.53% 9/29/2025 2,088,265.33 0.58% -177,213.83 7/1/2022 7/1/2022 965,000.00 54438CYK2 LOS ANGELES CCD, CA TXBL GO BONDS 0.77% 8/1/2025 896,505.10 0.77% -71,603.00 7/1/2022 7/1/2022 4,285,000.00 3135G05G4 FANNIE MAE NOTES 0.25% 7/10/2023 4,175,061.90 0.46% -111,879.90 7/1/2022 7/1/2022 565,000.00 91282CBL4 US TREASURY NOTES 1.12% 2/15/2031 487,758.30 2.67% -14,411.09 7/26/2022 7/26/2022 1,360,000.00 87612EBM7 TARGET CORP CORP NOTES (CALLABLE) 1.95% 1/15/2027 1,285,107.29 1.97% -74,954.11 7/26/2022 7/26/2022 1,875,000.00 341271AD6 FL ST BOARD OF ADMIN TXBL REV BONDS 1.25% 7/1/2025 1,758,869.27 1.26% -117,768.75 7/26/2022 7/26/2022 2,800,000.00 3137EAER6 FREDDIE MAC NOTES 0.37% 5/5/2023 2,749,285.70 -0.16% -56,944.09 7/26/2022 7/26/2022 525,000.00 3135G03U5 FANNIE MAE NOTES 0.62% 4/22/2025 492,147.57 0.63% -34,674.03 7/26/2022 7/26/2022 2,840,000.00 91282CAJ0 US TREASURY NOTES 0.25% 8/31/2025 2,612,549.04 0.66% -197,034.18 7/26/2022 7/26/2022 3,255,000.00 91282CCF6 US TREASURY N/B NOTES 0.75% 5/31/2026 2,999,352.43 0.81% -253,686.64 7/26/2022 7/26/2022 1,310,000.00 172967MX6 CITIGROUP INC (CALLABLE) CORPORATE NOTES 0.98% 5/1/2025 1,237,275.68 0.98% -75,758.61

ATTACHMENT A
59 © PFM Asset Management LLC pfmam.com

TRANSFER OUT
7/26/2022 7/26/2022 6,635,000.00 91282CBQ3 US TREASURY NOTES 0.50% 2/28/2026 6,091,624.49 1.02% -404,639.25 7/26/2022 7/26/2022 3,577,500.00 91282CAZ4 US TREASURY NOTES 0.37% 11/30/2025 3,283,850.11 1.06% -216,273.83 7/26/2022 7/26/2022 4,625,000.00 3135G06G3 FANNIE MAE NOTES 0.50% 11/7/2025 4,270,869.41 0.57% -348,294.21 7/26/2022 7/26/2022 3,995,000.00 3135G05X7 FANNIE MAE NOTES 0.37% 8/25/2025 3,687,364.69 0.53% -302,377.24 7/26/2022 7/26/2022 5,425,000.00 91282CBH3 US TREASURY NOTES 0.37% 1/31/2026 4,965,289.32 0.93% -396,569.54 7/26/2022 7/26/2022 6,642,500.00 3135G04Z3 FANNIE MAE NOTES 0.50% 6/17/2025 6,181,049.96 0.57% -457,080.01 7/26/2022 7/26/2022 1,840,000.00 91282CAJ0 US TREASURY NOTES 0.25% 8/31/2025 1,692,637.41 0.66% -133,553.32 7/26/2022 7/26/2022 1,709,500.00 9128286G0 US TREASURY NOTES 2.37% 2/29/2024 1,707,398.05 -0.82% -73,586.47 7/26/2022 7/26/2022 780,000.00 87612EBM7 TARGET CORP CORP NOTES (CALLABLE) 1.95% 1/15/2027 737,046.83 1.97% -42,225.47 7/26/2022 7/26/2022 670,000.00 61772BAA1 MORGAN STANLEY CORP NOTES (CALLABLE) 0.73% 4/5/2024 656,241.49 0.69% -15,268.63 7/26/2022 7/26/2022 4,472,500.00 912828ZC7 US TREASURY NOTES 1.12% 2/28/2025 4,283,785.80 0.32% -277,616.21 7/26/2022 7/26/2022 4,140,000.00 91282CAJ0 US TREASURY NOTES 0.25% 8/31/2025 3,808,434.17 0.66% -300,811.85 7/26/2022 7/26/2022 5,065,000.00 91282CCF6 US TREASURY N/B NOTES 0.75% 5/31/2026 4,667,195.11 0.81% -395,073.31 7/26/2022 7/26/2022 1,887,500.00 89236TGT6 TOYOTA MOTOR CREDIT CORP CORP NOTES 1.80% 2/13/2025 1,828,211.75 1.41% -84,651.27 7/26/2022 7/26/2022 6,035,000.00 91282CBQ3 US TREASURY NOTES 0.50% 2/28/2026 5,540,761.68 1.02% -463,492.94 7/26/2022 7/26/2022 662,500.00 61772BAA1 MORGAN STANLEY CORP NOTES (CALLABLE) 0.73% 4/5/2024 648,895.51 0.69% -15,393.91 7/26/2022 7/26/2022 2,140,000.00 9128283J7 US TREASURY NOTES 2.12% 11/30/2024 2,102,820.43 1.17% -64,832.25

ATTACHMENT A
60 © PFM Asset Management LLC pfmam.com

TRANSFER OUT
7/26/2022 7/26/2022 3,317,500.00 9128283J7 US TREASURY NOTES 2.12% 11/30/2024 3,259,862.97 1.17% -105,278.96 7/26/2022 7/26/2022 3,520,000.00 3135G06G3 FANNIE MAE NOTES 0.50% 11/7/2025 3,250,477.90 0.57% -272,497.02 7/26/2022 7/26/2022 830,000.00 3137EAER6 FREDDIE MAC NOTES 0.37% 5/5/2023 814,966.83 -0.16% -16,108.23 7/26/2022 7/26/2022 6,400,000.00 91282CBC4 US TREASURY NOTES 0.37% 12/31/2025 5,859,695.65 0.54% -516,581.08 7/26/2022 7/26/2022 6,600,000.00 3135G03U5 FANNIE MAE NOTES 0.62% 4/22/2025 6,186,998.04 0.63% -416,311.40 7/26/2022 7/26/2022 760,000.00 91412HGE7 UNIV OF CAL TXBL REV BONDS 0.88% 5/15/2025 707,226.72 0.88% -54,096.80 7/26/2022 7/26/2022 3,035,000.00 3135G03U5 FANNIE MAE NOTES 0.62% 4/22/2025 2,845,081.67 0.63% -198,363.85 7/26/2022 7/26/2022 4,075,000.00 91282CBH3 US TREASURY NOTES 0.37% 1/31/2026 3,729,687.37 0.93% -292,514.79 7/26/2022 7/26/2022 2,180,000.00 3135G06H1 FANNIE MAE NOTES 0.25% 11/27/2023 2,101,164.06 0.23% -79,505.22 7/26/2022 7/26/2022 7,805,000.00 91282CBH3 US TREASURY NOTES 0.37% 1/31/2026 7,143,609.80 0.93% -560,130.19 7/26/2022 7/26/2022 867,500.00 3135G06H1 FANNIE MAE NOTES 0.25% 11/27/2023 836,128.36 0.23% -32,350.07 7/26/2022 7/26/2022 6,775,000.00 9128282U3 US TREASURY NOTES 1.87% 8/31/2024 6,665,182.41 0.54% -235,215.37 7/26/2022 7/26/2022 362,500.00 9128282U3 US TREASURY NOTES 1.87% 8/31/2024 356,624.15 0.54% -20,814.96 7/26/2022 7/26/2022 3,195,000.00 91282CAZ4 US TREASURY NOTES 0.37% 11/30/2025 2,932,746.64 1.06% -218,678.32 7/26/2022 7/26/2022 720,000.00 3135G03U5 FANNIE MAE NOTES 0.62% 4/22/2025 674,945.24 0.63% -48,803.18 7/26/2022 7/26/2022 45,000.00 172967MX6 CITIGROUP INC (CALLABLE) CORPORATE NOTES 0.98% 5/1/2025 42,501.84 0.98% -2,672.76 7/29/2022 7/29/2022 495,000.00 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 472,616.69 0.75% -22,432.39

ATTACHMENT A
61 © PFM Asset Management LLC pfmam.com

TRANSFER OUT
7/29/2022 7/29/2022 139,208.47 65479HAC1 NAROT 2019-B A3 2.50% 11/15/2023 139,161.38 2.52% -173.29 7/29/2022 7/29/2022 722,500.00 43813GAC5 HAROT 2021-1 A3 0.27% 4/21/2025 705,583.53 0.27% -16,951.13 7/29/2022 7/29/2022 64,880.66 43815MAC0 HAROT 2019-2 A3 2.52% 6/21/2023 64,895.25 2.52% -21.21 7/29/2022 7/29/2022 12,141.58 3137BM6P6 FHLMC SERIES K721 A2 3.09% 8/1/2022 12,170.73 -148.58% -0.23 7/29/2022 7/29/2022 427,686.99 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 416,490.96 0.35% -11,194.04 7/29/2022 7/29/2022 27,664.17 14042WAC4 COPAR 2019-1 A3 2.51% 11/15/2023 27,666.70 2.53% -22.84 7/29/2022 7/29/2022 223,829.38 65479CAD0 NAROT 2020-B A3 0.55% 7/15/2024 221,310.28 0.55% -2,563.99 7/29/2022 7/29/2022 48,680.96 65479KAD2 NAROT 2019-A A3 2.90% 10/15/2023 48,735.18 2.91% 1.24 7/29/2022 7/29/2022 759,227.75 89232HAC9 TAOT 2020-A A3 1.66% 5/15/2024 754,420.75 1.66% -5,273.98 7/29/2022 7/29/2022 862,500.00 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 836,967.61 0.53% -25,569.86 7/29/2022 7/29/2022 452,954.56 14315XAC2 CARMX 2020-1 A3 1.89% 12/16/2024 449,294.68 1.90% -3,949.55 7/29/2022 7/29/2022 159,819.87 3137AWQH1 FHLMC MULTIFAMILY STRUCTURED P 2.30% 8/1/2022 160,106.65 -259.18% -6.69 7/29/2022 7/29/2022 1,000,000.00 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 953,206.92 0.43% -46,896.07 7/29/2022 7/29/2022 112,187.56 14316LAC7 CARMX 2019-2 A3 2.68% 3/15/2024 112,232.39 2.69% -68.29 7/29/2022 7/29/2022 32,933.20 3137FQ3V3 FHMS KJ27 A1 2.09% 7/1/2024 32,510.59 2.09% -475.87 7/29/2022 7/29/2022 572,500.00 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 554,671.19 0.38% -17,870.38 7/29/2022 7/29/2022 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 748,957.18 0.59% -48,580.67

ATTACHMENT A
62 © PFM Asset Management LLC pfmam.com

TRANSFER OUT
7/29/2022 7/29/2022 942,924.89 3136AJB54 FANNIEMAE-ACES 3.34% 3/1/2024 939,255.96 0.28% -23,465.88 Total TRANSFER OUT 297,186,140.04 284,237,1 54.56 -13,561,674.

ATTACHMENT A
63 © PFM Asset Management LLC pfmam.com|
Short-Term Portfolio Holdings and Transactions

ATTACHMENT A
64 © PFM Asset Management LLC pfmam.com

SUMITOMO MITSUI BANK NY CERT
DEPOS
DTD 05/13/2022 2.750% 05/08/2023
86565FLW0 15,000,000.00 A-1 P-1 5/13/2022 5/13/2022 15,000,000.00 2.75 161,562.50 14,816,423.6915,000,000.00

NATIXIS NY BRANCH CERT DEPOS
DTD 05/13/2022 2.750% 05/11/2023
63873QTU8 15,000,000.00 A-1 P-1 5/13/2022 5/13/2022 15,000,000.00 2.75 161,562.50 14,813,992.0715,000,000.00

MUFG BANK LTD/NY CERT DEPOS
DTD 05/13/2022 2.610% 05/12/2023
55380T2B5 20,000,000.00 A-1 P-1 5/13/2022 5/13/2022 20,000,000.00 2.61 204,450.00 19,734,301.4220,000,000.00 50,000,000.00 50,000,000.00 527,575.00 49,364,717.18Security Type Sub-Total 2.69 50,000,000.00 Commercial Paper

COLLAT COMM PAPER V CO COMM
PAPER
DTD 06/01/2022 0.000% 11/30/2022
19424JLW4 10,000,000.00 A-1 P-1 6/10/2022 6/10/2022 9,888,030.56 2.36 0.00 9,937,210.009,961,166.67

LMA AMERICAS LLC COMM PAPER
DTD 07/12/2022 0.000% 01/11/2023
53944RNB0 10,165,000.00 A-1 P-1 7/15/2022 7/15/2022 9,997,277.50 3.36 0.00 10,051,477.2810,069,957.25

OLD LINE FUNDING LLC COMM PAPER
DTD 07/06/2022 0.000% 01/11/2023
67983UNB5 10,160,000.00 A-1+ P-1 7/15/2022 7/15/2022 9,994,900.00 3.30 0.00 10,050,028.1610,066,443.33

COLLAT COMM PAPER V CO COMM
PAPER
DTD 04/21/2022 0.000% 01/12/2023
19424JNC6 10,165,000.00 A-1 P-1 7/15/2022 7/18/2022 9,996,628.07 3.41 0.00 10,048,356.6310,067,571.30

BNP PARIBAS NY BRANCH COMM
PAPER
DTD 06/16/2022 0.000% 03/13/2023
09659CQD3 10,000,000.00 A-1 P-1 6/16/2022 6/16/2022 9,756,250.00 3.33 0.00 9,812,380.009,852,847.22

BOFA SECURITIES INC COMM PAPER
DTD 06/27/2022 0.000% 03/24/2023
06054PQQ2 10,000,000.00 A-1 NR 6/27/2022 6/27/2022 9,745,000.00 3.49 0.00 9,795,770.009,835,666.67

ATTACHMENT A
65 © PFM Asset Management LLC pfmam.com

ING (US) FUNDING LLC COMM PAPER
DTD 07/15/2022 0.000% 04/11/2023
4497W1RB4 10,260,000.00 A-1 P-1 7/15/2022 7/18/2022 9,994,428.45 3.58 0.00 10,030,555.6210,069,027.20 70,750,000.00 69,372,514.58 0.00 69,725,777.69Security Type Sub-Total 3.26 69,922,679.64 120,750,000.00 119,372,514.58 527,575.00 119,090,494.87Managed Account Sub Total Securities Sub Total
Accrued Interest
$120,750,000.00 $119,372,514.58 $527,575.00 $119,090,494.87 $527,575.00
119,922,679.64
$119,922,679.64

3.03 3.03%
Total Investments $119,618,069.87

ATTACHMENT A
66 © PFM Asset Management LLC pfmam.com

ATTACHMENT A
67 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
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.

Investment advisory services are provided by PFM Asset Management LLC ("PFMAM"), an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. ("USBAM"). USBAM is a subsidiary of U.S. Bank National Association ("U.S. Bank"). U.S. Bank is a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.

PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sources external 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 to particular issuers are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics 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 any sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance 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 opinion as 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 as actual 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 and data presented are not necessarily indicative of future events or expected performance.

ATTACHMENT A
68 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
Appendix
|
Important Disclosures
Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Refinitiv, Bloomberg, or Telerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimated market value.

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.

Bank of America/Merrill Lynch 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.

ATTACHMENT A
69 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
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 added or 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 compounding on 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 the mortgage-backed security.

ATTACHMENT A
70 © PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2022
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 and maturity 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, whose decisions 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 period from 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 time period remaining until maturity, stated as a percentage on an annualized basis.

ATTACHMENT A
71 CHANDLER ASSET MANAGEMENT, INC. | 800.317.4747 | www.chandlerasset.com

INVESTMENT REPORT
Period Ending September 30, 2022
City of Stockton

ATTACHMENT A
SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Portfolio Holdings
SECTION 4 Transactions
Table of Contents As of September 30, 2022
1 ATTACHMENT A
SECTION |
Section 1 |
Economic Update
2 ATTACHMENT A
Economic Update



Market volatility has intensified as fin ancial conditions tighten and globalcentral banks pursuemonetary policies to combat persistently high inflation and maintain financial market stability. Labor markets and consumer balance sheets remain strong; however, inflation is weighing heavily on consumer sentiment and beginning to impact discretionary spending.

Corporate earnings have generally performed better than expected, but warnings are growing along with wider credit spreads. While evidence of slower economicconditions has begun to mount, we expect the Federal Reserve to continue to raise rates until a sustainable improvement in inflationary conditions has been achieved. Over the near-term, we expect financial market volatility to remain intensified and conditions tighter with persistent inflation, geopolitical risk, and the Fed's hawkish monetary policy.

At the September meeting, the Federal Open Market Committee (FOMC) delivered the third 75-basis point increase to the Fed Funds Rate, increasing the range to 3.00% to 3.25%. The FOMC acknowledged spending and production are experiencing modest growth, offset by a robust labor market and elevated inflation metrics. Weexpect the Fed to continue to increase the federal funds rate in the near term until inflationary pressures weaken.

In September, yields rose significantly across the curve. The 2-year Treasury yield increased 79 basis points to 4.28%, the 5- year Treasury yield rose 74 basis points to 4.09%, and the 10-year Treasury yield gained 64 basis points to 3.83%. The spread between the 2-year Treasury yield and 10-year Treasury yield became more inverted at -45 basis points at September month-end versus -30 basis points at August month-end. The spread was a positive 121 basis points one year ago. The spread between 3-month and 10-year treasuries widened to 56 basis points in September compared to just 27 basis points in August. The shape of the curve does not necessarily indicate an imminent recession but bears watching as a better predictor of recession over the medium-term.
3 ATTACHMENT A
Source: US Department of Labor Source: US Department of Labor Employment
The U.S. economy added 263,000j obs in September, surpassing market expectations of 255,000,and gainswere revised upward by11,000for the prior two months. Trends in employment remain strong, with the three-month moving average payrolls at 372,000and the six-month moving average at 360,000. Hiring was widespread, with solid increases in education and health services, leisure and hospitality, and professional and business services. The unemployment rate fell to 3.5% from 3.7%, as the labor participation rate edged down to 62.3% in September from 62.4% in August. The U-6 underemployment rate, which includes those who are marginally attached to the labor force and employed part time for economic reasons dropped to 6.7% from 7.0% last month. Average hourly earnings rose 5.0% year-over-year in September compared to 5.2% year-over-year in August, a constructive development for the inflation outlook. The strong September labor report bolsters the case for the Fed to continue raising the federal funds rate. -200
0 200
400
600
800
1,000
1,200
1,400
MOM Change In (000's)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3 month average (000's)

0.0%

4.0%

8.0%

12.0%

16.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
4 ATTACHMENT A
Source: US Department of Labor Source: US Department of Commerce Inflation
The Consumer Price Index (CP I) increased more than expected in September, up 8.2% year-over-year versus consensus expectations for 8.1%, but down slightly from 8.3% in August. The Core CPI, which excludes volatile food and energy components, jumped to 6.6% year-over-year, up from 6.3% in August and the highest level since 1982. The report included widespread increases, particularly infood, shelter, and medical care services. Owners’ equivalent rent, which is a major contributor to CPI and tends to lag, was up 6.7% year-over-year. The Personal Consumption Expenditures (PCE) index rose 6.2% in August, higher than consensus estimates of up 6.0%, but down from a 6.4% increase last month. Core PCE was up 4.9% year-over-year in August, versus up 4.7% year-over-year in July. Persistently elevated inflation is likely to keep the Federal Reserve on the path of tightening monetary policy as long as it continues to run well above the Fed’s longer-run targetof around

2.0%.

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Cor e Deflator Y OY % Change
YOY( %) Change

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YOY( %) Change
5 ATTACHMENT A
Advance retail sales were flat for the monthbut up8.2% year-over-year in September, slowing from August’s 9.4% year-over-year gain that surprised to theupside. Retail sales growth is starting toreflect the headwinds from higher prices as consumers dipinto savings andassume more debt. The Conference Board’s Consumer Confidence Indexrose for the second month in a row to 108.0 in September, with gains in both the present situation and future expectations components. The strength was tied directly to theconsumer's assessment of the labor market, which continues to reflect the demand for labor outstripping supply.

Source: US Department of Commerce Source: The Conference Board

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%
Retail Sales YOY % Change
YOY (%) Change
80 90
100
110
120
130
140
Index Level
Consumer Confidence
Consumer
6 ATTACHMENT A
Source: The Conference Board Source: Federal Reserve Bank of Chicago Economic Activity
The Conference Board’s Leading Ec onomic Index (LEI) remained in negative territory at -0.3% in August, following a decline to -0.5% in July.

This is the sixth straight month-over-month decline for the index. With the year-over-year index now at -1.0% in August and average workweek in manufacturing having contracted for four of the last six months, the Conference Board stated that US economic activity is expected to continue to slow more broadly and is likely to contract. The Chicago Fed National Activity Index (CFNAI) fell to zero in August from +0.29 in July indicating a moderation in economic growth over the month. On a 3-month moving average basis, the CFNAI increased to 0.01in August from -.08 in each of the last two months.
-2.00
-1.00

0.00 1.00

2.00 3.00

4.00 Chicago Fed National Activity Index (CFNAI)
3 Month Average
-0.8%
-0.6%
-0.4%
-0.2%

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%
Leading Economic Indicators (LEI)
MOM ( %) Change
7 ATTACHMENT A
Source: US Department of Commerce Source: S&P
Housing
0 200
400
600
800
1000
1200
1400
1600
1800
2000
MOM Change (In Thousands of Units)
Housing Starts
Multi Family Housing Starts
Single Family Housing Starts

0.0%

3.0%

6.0%

9.0%

12.0%

15.0%

18.0%

21.0%

24.0%
S&P/Case-Shiller 20 City Composite Home Price Index
YOY( %) Change
Total housing starts increased 12.2% to an a nnual rate of 1,575,000in August, from a revised 1,404,000units in July. Single-family home starts increased 3.4% and multi-family homes increased 28% month-over-month. On a year-over-year basis, total housing starts decreased 0.1% reflecting a shift from single-family units to more affordable multi-family units as homebuyers struggle with a combination ofelevated prices and higher mortgage rates. Mortgage rates for a 30-year fixed-rate loan are higher than they have been since 2007at 6.7%. According to the Case-Shiller 20-City Home PriceIndex, the year-over-year increase receded from 18.7%in June to 16.1%in July, clearly displaying the impact of higher mortgage rates which have reduced demand for homebuying as affordability has declined. 8 ATTACHMENT A
Source: Institute for Supply Management Source: Federal Reserve Manufacturing
The Institute for Supply Man agement (ISM) manufacturing index plungednearly two points to 50.9 in September, the lowest since May 2020 and disappointing relative to consensus expectations of 52.0. Readings above 50.0 are indicative of expansion in the manufacturing sector.

New orders declined significantly, reflecting lower demand for goodsas consumers shiftto spending on services. Total industrial production declined by-0.2% in August, following a downwardly revised increase of 0.5% in July. Capacity utilization fell to 80.0%in August from 80.2%in July, a rate that is 0.4 percentage points above its long-run (1972-2021) average. 40 42
44 46
48 50
52 54
56 58
60 62
64 66
Institute of Supply Management Purchasing Manager Index

EXPANDING

CONTRACTING
-10.0%
-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%
Industrial Production
YOY( %) Change
9 ATTACHMENT A
Source: US Department of Commerce Source: US Department of Commerce 9/21 12/21 3/22 6/22

2.0% 2.1% 0.9% 1.4%

1.8% 5.1% 1.0% -2.8%
-1.1% -0.2% -3.1% 1.2%
-0.5% 0.0% -0.4% -0.2%

0.5% -0.2% 0.0% -0.1%

2.7% 7.0% -1.6% -0.6%
Gross Private Domestic Investment
Personal Consumption Expenditures
Components of GDP
Federal Government Expenditures
State and Local (Consumption and Gross
Investment)
Net Exports and Imports
Total
-35.0%
-30.0%
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
Gross Domestic Product (GDP)
According to thethird estimate, U. S. GDP was unrevised at -0.6% annualized in the second quarter. Personalconsumption expenditures rose, primarily due to spending on services. The largest negative contribution was from a drop in gross residential investment as the housing sector diminished sharply. The second quarter decline followed a first quarter contraction of -1.6%. Although many market participants link two quarters in a row of negative GDP growth with a recession, an official declaration by the National Bureau of Economic Research is unlikely given the mosaic of data and the strength of the labor market. The consensus estimate calls for 1.9% growth in the third quarter and 1.7% growth for the full year 2022.
10 ATTACHMENT A
Federal Reserve
Source: Federal Reserve Source: Bloomberg
At the September mee ting, the Federal Open Market Committee (FOMC) delivered the third 75-basis point increase to the Fed Funds Rate, increasing the range to 3.00% to 3.25%. The FOMC acknowledged spending and production are experiencing modest growth, offset by robust labor market and elevated inflation metrics. The FOMC remains data dependent to meet its long-term 2% inflation objective. The Fed also released new economic projections showing a significant slowdown in the economy later in 2022and 2023.The Fed has reduced its $9 trillion balance sheet holdings by $87.1 billion since the start of the program and will increase the rate of decrease to $95 billion a month in September. As inflation metrics begin to moderate, we believe the Federal Reserve will decelerate their pace of tightening, but a material decline in inflation in the short-term is unlikely.

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%
Effective Federal Funds Rate
Yield (%)
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
In $ millions
11 ATTACHMENT A
Source: Bloomberg Source: Bloomberg

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%
US Treasury Note Yields
2-Year
5-Year
10-Year
Yield (%)

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%
US Treasury Yield Curve
Sep-22
Jun-22
Sep-21
Yield (%)
Bond Yields
At the end of September, the 2-year Treasury yield was 400 basis points higher, and the 10-Year Treasury yield was about 234 basis points higher, year-over-year. The spread between the 2-year Treasury yield and 10-year Treasury yield became more inverted at -45 basis points at September month-end versus -30 basis points at August month-end. The average historical spread (since 2003) is about 130basis points. The spread between 3-month and 10-year treasuries widened to 56 basis points in September compared to just 27 basis points in August. The shape of the yield curve does not indicate an imminent recession but bears watching as a better predictor of recession over the medium-term. 12 ATTACHMENT A
Section 2|SECTION |
Section 2 |
Account Profile
13 ATTACHMENT A
Objectives
Chandler Asset Management Performance Objective
The performance objective for the portfolio is to earn a total rate of return through a marketcycle that is equal to or above the return on the benchmark index.

Investment Objectives
Safety of principal is the foremost objective of the investment program. The investment portfolio shall remain sufficiently liquid to meet all requirements that may be reasonably anticipated. The investment portfolio shall bedesigned with the objective of attaining a marketrate of return throughout budgetary and econmiccycles, taking into account the investment risk constraints and liquidity needs.

Strategy
In order to achieve thisobjective, the portfolio invests in high-quality fixed income securities that comply with theinvestment policy and all regulationsgoverning the funds.

As of September 30, 2022
14 ATTACHMENT A
Compliance As of September 30, 2022
Category Standard Comment
U.S. Treasuri es No l i mi t; 10 years max maturi ty Complies Federal Agenci es No limit in Federal Agencies or Government Sponsored Enterprises (GSEs), provided that: 20% max in Federal Agency or GSE issued mortgage-backed securities, mortgage pass-through securities, and collateralized mortgage obligations; 10 years max maturity Complies Supranational Obligations "AA" rating category or higher by a NRSRO; 30% max; 10% max per issuer; 5 years max maturity; USD denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by IBRD, IFC, or IADB Complies Municipal Securities (CA, Other States) "A" rating category or better by a NRSRO; 30% max; 5% max per issuer; 5 years max maturity Complies Corporate Medi um Term Notes
"A" rating category or higher by a NRSRO; 30% max; 5% max per issuer; 5 years max maturity; Corporate and depository institution debt securities; Issued by corporations organized and operating within the U.S. or by depository institutions licensed by the U.S. or any state and operating within the U.S.

Complies
Asset-Backed, Mortgage-Backed,
Mortgage Pass-Through Securities, and
Collate ralize d Mortgage Obligations
"AA" rating category or higher by a NRSRO; "A" issuer long-term debt rating category or higher by a NRSRO; 20% max (combined ABS/MBS/CMO); 5% max per Asset-Backed securi ty i ssuer; 5 years max maturi ty Complies Negoti abl e Certi fi cates of Deposi t
(NCD)
The amount of NCD insured up to the FDIC limit does not require any credit ratings; Any amount above FDIC insured limit must be issued by institutions with "A-1" short-term debt rating or better by a NRSRO; or "A" long-term rating category or better by a NRSRO; 30% max; 5% max per issuer; 5 years max maturity
Complies
Certi fi cate of Deposi t Pl acement
Servi ce (CDARS) 20% m ax (com bination of FDIC & Collate ralize d Tim e De posits, and CDA RS; 5 ye ars m ax m aturity Complies Ti me Deposi ts (Non-negoti abl e CD/TD)20% m ax (com bination of FDIC & Collate ralize d Tim e De posits, and CDA RS; 5 ye ars m ax m aturity Complies Collate ralize d Bank De posits De posits with financial institutions will be collate ralize d with ple dge d se curitie s pe r California Gove rnm e nt Code Complies Banker’s Acceptances A-1 short-term debt rated or better by a NRSRO; or "A" long-term debt rating category or better by a NRSRO; 40% max; 5% max per issuer; 180 days max maturity Complies
Commerci al Paper
25% max; 5% max per issuer; 270 days maturity; 10% max of the outstanding commercial paper of any single issuer; "Prime" quality of the highest rating by a NRSRO; The entity that issues the commercial paper shall either be:
(1) organized and operating within the U.S. as a general corporation with assets > $500 million; "A" rating category or higher by a NRSRO, if issuer has debt obligations; or
(2) organized within the U.S. as a special purpose corporation, trust, or limited liability company; has program-wide credit enhancements including, but not limited to, overcollateralization, letters of credit, or a surety bond; has commercial paper that is "A-1" rated or higher by a NRSRO
Complies
Money Market Mutual Funds
20% max in Money Market Mutual Funds; Meet either of the following criteria: (i) Attained highest rating by two NRSROs; or (ii) Retained an investment adviser registered or exempt from SEC registration with > 5 years experience investing in securities authorized by CGC and with A UM > $500 m illion
Complies
Local Agency Investment Fund (LAIF) Maximum amount permitted by LAIF; Not used by investment adviser Complies California Asset Management Program CAMP; Not used by investment adviser Complies Repurchase Agreements 1 year max maturity; 102% Collateralized; Not used by investment adviser Complies Maxi mum Maturi ty
10 years max maturity; Donated securities are not subject to maturity limits; 15% max for Investments maturing beyond a five-year horizon; Investments greater than 5 years shall be permitted for U.S. Treasuries, U.S. Agencies, as described in the policy; Investments in City Variable Rate obligations, with maturities greater than 5 years, may be made when IRS & SEC guidelines permit Complies
City of Stockton Reserve Portfolio
Assets managed by Chandler Asset Management are in full compliance with state law and the Client's investment policy. 15 ATTACHMENT A
Portfolio Characteristics
City of Stockton Reserve Portfolio
09/30/22
Benchmark* Portfolio
Average Maturity (yrs) 2.64 2.36
Average Modified Duration 2.50 2.23
Average Purchase Yield n/a 1.21%
Average Market Yield 4.35% 4.35%
Average Quality** AAA AA/Aa1
Total Market Value 278,810,328
*ICE BofA 1-5 Yr AAA-A US Corp & Govt Index
**Benchmark is a blended rating of S&P, Moody’s, and Fitch. Portfolio is S&P and Moody’s respectively.

As of September 30, 2022
16 ATTACHMENT A
City of Stockton Reserve Portfolio
Sector Distribution
ABS

2.1%
Agency

25.5%
CMO

0.3%
Corporate

20.2%
Money Market
Fund

0.0%
Municipal Bonds

2.8%
Negotiable CD

2.5%
Supranational

2.0%
US Treasury

44.6%
September 30, 2022
As of September 30, 2022
17 ATTACHMENT A
Issue Name Investment Type % Portfolio
Government of United States US Treasury 44.58%
Federal National Mortgage Association Agency 17.16%
Federal Home Loan Mortgage Corp Agency 5.91%
Wal-Mart Stores Corporate 1.44%
Amazon.com Inc Corporate 1.42%
Federal Home Loan Bank Agency 1.42%
Inter-American Dev Bank Supranational 1.40%
Bank of America Corp Corporate 1.30%
United Health Group Inc Corporate 1.28%
Novartis Capital Corp Corporate 1.24%
Bank of New York Corporate 1.20%
Morgan Stanley Corporate 1.20%
Pfizer Inc. Corporate 1.12%
JP Morgan Chase & Co Corporate 1.06%
Barclays Bank Negotiable CD 1.05%
Federal Farm Credit Bank Agency 0.98%
US Bancorp Corporate 0.95%
Microsoft Corporate 0.92%
Merck & Company Corporate 0.81%
Deere & Company Corporate 0.79%
State of California Municipal Bonds 0.78%
Northern Trust Corp Corporate 0.77%
MasterCard Inc Corporate 0.76%
Credit Suisse Group Negotiable CD 0.72%
Target Corp Corporate 0.69%
DNB NOR BANK ASA NY Negotiable CD 0.69%
Honeywell Corp Corporate 0.66%
Intl Bank Recon and Development Supranational 0.64%
Goldman Sachs Inc. Corporate 0.63%
Toyota Motor Corp Corporate 0.63%
Honda Motor Corporation Corporate 0.63%
Florida Hurricane Catastrophe Municipal Bonds 0.61%
Carmax Auto Owner Trust ABS 0.59%
Toyota ABS ABS 0.55%
Citigroup Inc Corporate 0.45%
Hyundai Auto Receivables ABS 0.37%
Federal National Mortgage Association CMO 0.33%
Los Angeles Cmnty College Dis Municipal Bonds 0.31%
Issuers
City of Stockton Reserve Portfolio – Account #10020
As of September 30, 2022
18 ATTACHMENT A
Issue Name Investment Type % Portfolio
Discover Card Execution Note Trust ABS 0.26%
San Diego Community College District Municipal Bonds 0.25% University of California Municipal Bonds 0.25%
Honda ABS ABS 0.22%
Maryland State Municipal Bonds 0.22%
California Edl Facs Auth Rev Municipal Bonds 0.21%
New Jersey State Turnpike Authority Municipal Bonds 0.18% State Street Bank Corporate 0.15%
Paccar Financial Corporate 0.08%
Nissan ABS ABS 0.08%
California State Dept Water Municipal Bonds 0.03%
Federated GOVT Obligation MMF Money Market Fund 0.02%
Federal Home Loan Mortgage Corp CMO 0.00%
Capital One Prime Auto Receivables Trust ABS 0.00%
TOTAL 100.00%
Issuers
City of Stockton Reserve Portfolio – Account #10020
As of September 30, 2022

ATTACHMENT A
AAA AA A <A NR
09/30/22 5.3% 78.2% 14.8% 1.1% 0.6%
Source: S&P Ratings
September 30, 2022

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%
AAA AA A <A NR
09/30/22
Quality Distribution
City of Stockton Reserve Portfolio
As of September 30, 2022
20 ATTACHMENT A

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%
0 - 0.25 0.25 - 0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+ City of Stockton Reserve Portfolio ICE BofA 1-5 Yr AAA-A US Corp & Govt Index Portfolio Compared to the Benchmark
0 - 0.25 0.25 - 0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+ Portfolio 0.8% 2.2% 13.0% 27.5% 28.1% 24.8% 2.3% 1.3%
Benchmark* 0.0% 0.0% 1.6% 36.2% 26.8% 21.6% 13.7% 0.0%
*ICE BofA 1-5 Yr AAA-A US Corp & Govt Index
Duration Distribution
City of Stockton Reserve Portfolio
As of September 30, 2022
21 ATTACHMENT A
-3.50%
-3.00%
-2.50%
-2.00%
-1.50%
-1.00%
-0.50%

0.00%
Since Inception
City of Stockton Reserve Portfolio ICE BofA 1-5 Yr AAA-A US Corp & Gov Index Net of Fees Total Rate of Return Since Inception July 31, 2022
MARKET VALUE BASIS EARNINGS Since Inception
Interest Earned $561,128
Change in Market Value ($8,023,719)
TOTAL DOLLAR RETURN ($7,462,591)
TOTAL RATE OF RETURN Since Inception
City of Stockton Reserve Portfolio -2.46%
ICE BofA 1-5 Yr AAA-A US Corp & Gov Index -2.99%
Basis Point Fee* 0.00
Net of Fee Return -2.46%
Investment Performance
City of Stockton Reserve Portfolio
Total rate of return: A measure of a portfolio’s performance overtime. It is the internal rate of return, which equates the beginning value of the portfolio with the ending value; it includes interest earnings, realized and unrealized gains andlosses in the portfolio. *fees had not yet beencharged during thisperiod
As of September 30, 2022
22 ATTACHMENT A
Purchase Yield as of 09/30/22 = 1.21%

1.08 1.10

1.12 1.14

1.16 1.18

1.20 1.22
Percent (%)
Historical Average Purchase Yield
City of Stockton Reserve Portfolio
As of September 30, 2022
23 ATTACHMENT A
SECTION |
Section 3 |
Portfolio Holdings
24 ATTACHMENT A
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
ABS
65479HAC1 Nissan Auto Receivables Trust 2019-B A3

2.500% Due 11/15/2023
56,750.82 05/28/2019

2.52%
56,737.99
56,747.60

99.96 3.50%
56,726.81

63.06 0.02%
(20.79)
Aaa / NR
AAA

1.13 0.04
14042WAC4 Capital One Prime Auto Trust 2019-1 A3

2.510% Due 11/15/2023

0.01 05/30/2019

2.52%

0.01 0.01
100.00

2.52%

0.01 0.00

0.00%

0.00 Aaa / AAA
AAA

1.13 0.50
14316LAC7 CarMax Auto Owner Trust 2019-2 A3

2.680% Due 03/15/2024
57,740.89 04/17/2019

2.70%
57,734.99
57,739.14

99.95 3.38%
57,709.71

68.78 0.02%
(29.43)

NR / AAA
AAA

1.46 0.08
89232HAC9 Toyota Auto Receivable Own 2020-A A3

1.660% Due 05/15/2024
580,430.98 02/12/2020

1.67%
580,389.07
580,415.01

99.39 3.93%
576,870.62
428.23

0.21%
(3,544.39)
Aaa / AAA
NR

1.62 0.27
65479CAD0 Nissan Auto Receivables Owner 2020-B A3

0.550% Due 07/15/2024
173,871.91 06/30/2020

0.55%
173,867.15
173,870.88

98.99 3.97%
172,114.59

42.50 0.06%
(1,756.29)
Aaa / AAA
NR

1.79 0.29
14315XAC2 CarMax Auto Owner Trust 2020-1 A3

1.890% Due 12/16/2024
375,242.15 01/22/2020

1.90%
375,168.52
375,224.15

99.01 4.36%
371,514.12
315.20

0.13%
(3,710.03)

NR / AAA
AAA

2.21 0.40
43813GAC5 Honda Auto Receivables Trust 2021-1 A3

0.270% Due 04/21/2025
629,786.74 02/24/2021

0.27%
629,775.22
629,781.22

97.08 4.95%
611,415.24

47.23 0.22%
(18,365.98)
Aaa / NR
AAA

2.56 0.62
44933LAC7 Hyundai Auto Receivables Trust 2021-A A3

0.380% Due 09/15/2025
572,500.00 04/28/2021

0.38%
572,439.77
572,467.96

96.68 4.59%
553,473.53

96.69 0.20%
(18,994.43)

NR / AAA
AAA

2.96 0.79
14316NAC3 CarMax Auto Owner Trust 2021-1 A3

0.340% Due 12/15/2025
379,813.11 01/27/2021

0.35%
379,738.05
379,783.00

96.78 5.40%
367,596.42

57.39 0.13%
(12,186.58)

NR / AAA
AAA

3.21 0.63
89239BAC5 Toyota Auto Receivables Trust 2021-C A3

0.430% Due 01/15/2026
1,000,000.00 09/27/2021

0.43%
999,920.30
999,945.98

94.89 5.08%
948,899.00
191.11

0.34%
(51,046.98)
Aaa / AAA
NR

3.30 1.11
14314QAC8 CarMax Auto Owner Trust 2021-2 A3

0.520% Due 02/17/2026
862,500.00 04/21/2021

0.53%
862,314.13
862,404.17

96.69 5.16%
833,953.84
199.33

0.30%
(28,450.33)

NR / AAA
AAA

3.39 0.71
44935FAD6 Hyundai Auto Receivables Trust 2021-C A3

0.740% Due 05/15/2026
495,000.00 11/17/2021

0.75%
494,889.51
494,919.93

94.36 4.93%
467,102.30
162.80

0.17%
(27,817.63)

NR / AAA
AAA

3.62 1.37
254683CP8 Discover Card Execution Trust 2021-A1 A1

0.580% Due 09/15/2026
797,500.00 09/27/2021

0.59%
797,329.25
797,387.37

92.56 4.62%
738,196.31
205.58

0.26%
(59,191.06)
Aaa / AAA
NR

3.96 1.89
TOTAL ABS 5,981,136.61 0.72%
5,980,303.96
5,980,686.42 4.75%
5,755,572.50
1,877.90

2.07%
(225,113.92)
Aaa / AAA
Aaa

2.98 0.89
Agency
3137EAER6 FHLMC Note

0.375% Due 05/05/2023
3,630,000.00 Various

0.22%
3,645,114.40
3,633,234.54

97.79 4.16%
3,549,838.71
5,520.62

1.28%
(83,395.83)
Aaa / AA+
AAA

0.59 0.58
3135G04Q3 FNMA Note

0.250% Due 05/22/2023
3,800,000.00 05/20/2020

0.35%
3,788,562.00
3,797,566.16

97.61 4.04%
3,709,320.60
3,404.17

1.33%
(88,245.56)
Aaa / AA+
AAA

0.64 0.63
As of September 30, 2022
25 ATTACHMENT A
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
3137EAES4 FHLMC Note

0.250% Due 06/26/2023
3,452,500.00 06/24/2020

0.35%
3,442,418.70
3,450,032.61

97.21 4.13%
3,356,002.63
2,277.69

1.20%
(94,029.98)
Aaa / AA+
AAA

0.74 0.72
3135G05G4 FNMA Note

0.250% Due 07/10/2023
4,285,000.00 07/08/2020

0.32%
4,275,787.25
4,282,627.40

97.13 4.04%
4,161,917.66
2,410.31

1.49%
(120,709.74)
Aaa / AA+
AAA

0.78 0.76
3137EAEV7 FHLMC Note

0.250% Due 08/24/2023
2,292,500.00 08/19/2020

0.28%
2,290,161.65
2,291,803.61

96.54 4.21%
2,213,232.23
589.05

0.79%
(78,571.38)
Aaa / AA+
AAA

0.90 0.88
3135G0U43 FNMA Note

2.875% Due 09/12/2023
6,162,500.00 11/29/2018

2.97%
6,136,124.50
6,157,276.23

98.59 4.41%
6,075,590.26
9,350.74

2.18%
(81,685.97)
Aaa / AA+
AAA

0.95 0.92
3135G06H1 FNMA Note

0.250% Due 11/27/2023
3,047,500.00 Various

0.24%
3,048,317.20
3,047,844.23

95.55 4.22%
2,911,974.63
2,624.23

1.05%
(135,869.60)
Aaa / AA+
AAA

1.16 1.13
3137EAFA2 FHLMC Note

0.250% Due 12/04/2023
2,222,500.00 12/02/2020

0.28%
2,220,299.72
2,221,637.97

95.43 4.27%
2,120,856.19
1,805.78

0.76%
(100,781.78)
Aaa / AA+
AAA

1.18 1.15
3130A0F70 FHLB Note

3.375% Due 12/08/2023
1,712,500.00 01/30/2019

2.71%
1,763,703.75
1,725,011.98

98.80 4.42%
1,691,869.51
18,141.80

0.61%
(33,142.47)
Aaa / AA+
AAA

1.19 1.14
3133ELVX9 FFCB Callable Note Cont 4/8/2022

0.875% Due 04/08/2024
750,000.00 04/07/2020

0.88%
750,000.00
750,000.00

94.67 4.54%
709,996.50
3,153.65

0.26%
(40,003.50)
Aaa / AA+
AAA

1.52 1.48
3135G0X24 FNMA Note

1.625% Due 01/07/2025
4,380,000.00 03/04/2020

0.84%
4,542,673.20
4,456,232.95

94.36 4.26%
4,132,867.26
16,607.50

1.49%
(323,365.69)
Aaa / AA+
AAA

2.27 2.18
3130AJHU6 FHLB Note

0.500% Due 04/14/2025
2,460,000.00 04/15/2020

0.60%
2,447,798.40
2,453,805.55

90.78 4.37%
2,233,274.10
5,705.83

0.80%
(220,531.45)
Aaa / AA+
AAA

2.54 2.46
3135G03U5 FNMA Note

0.625% Due 04/22/2025
10,880,000.00 Various

0.63%
10,879,060.80
10,879,600.23

91.14 4.32%
9,916,097.28
30,033.33

3.57%
(963,502.95)
Aaa / AA+
AAA

2.56 2.48
3135G04Z3 FNMA Note

0.500% Due 06/17/2025
6,642,500.00 06/17/2020

0.54%
6,628,750.02
6,635,045.19

90.39 4.29%
6,004,441.38
9,594.72

2.16%
(630,603.81)
Aaa / AA+
AAA

2.72 2.64
3137EAEU9 FHLMC Note

0.375% Due 07/21/2025
2,310,000.00 07/21/2020

0.48%
2,298,496.20
2,303,541.73

89.73 4.30%
2,072,746.83
1,684.38

0.74%
(230,794.90)
Aaa / AA+
AAA

2.81 2.73
3135G05X7 FNMA Note

0.375% Due 08/25/2025
3,995,000.00 08/25/2020

0.47%
3,976,303.40
3,984,156.79

89.43 4.29%
3,572,712.52
1,498.13

1.28%
(411,444.27)
Aaa / AA+
AAA

2.90 2.83
3137EAEX3 FHLMC Note

0.375% Due 09/23/2025
3,545,000.00 09/23/2020

0.44%
3,534,329.55
3,538,635.17

89.25 4.25%
3,163,986.95
295.42

1.13%
(374,648.22)
Aaa / AA+
AAA

2.98 2.90
3133EMBH4 FFCB Callable Note Cont 9/29/2021

0.530% Due 09/29/2025
2,265,000.00 10/07/2020

0.57%
2,261,036.25
2,262,612.15

88.93 4.52%
2,014,266.77

66.69 0.72%
(248,345.38)
Aaa / AA+
AAA

3.00 2.91
As of September 30, 2022
26 ATTACHMENT A
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
3135G06G3 FNMA Note

0.500% Due 11/07/2025
8,145,000.00 Various

0.54%
8,127,104.90
8,133,879.66

89.07 4.30%
7,254,670.05
16,290.00

2.61%
(879,209.61)
Aaa / AA+
AAA

3.11 3.01
TOTAL Agency 75,977,500.00 0.74%
76,056,041.89
76,004,544.15 4.27%
70,865,662.06
131,054.04

25.46%
(5,138,882.09)
Aaa / AA+
Aaa

1.95 1.89
CMO
3136AJB54 FNMA 2014-M4 A2

3.346% Due 03/25/2024
939,150.64 12/18/2019

2.04%
984,787.49
954,521.49

98.05 4.74%
920,871.01
2,618.54

0.33%
(33,650.48)

NR / NR
NR

1.48 1.27
3137FQ3V3 FHLMC KJ27 A1

2.092% Due 07/25/2024
7,214.01 11/26/2019

2.04%
7,213.83
7,213.94

99.38 4.13%
7,169.41

12.58 0.00%
(44.53)

NR / NR
NR

1.82 0.24
TOTAL CMO 946,364.65 2.04%
992,001.32
961,735.43 4.73%
928,040.42
2,631.12

0.33%
(33,695.01)

NR / NR
NR

1.49 1.26
Corporate
02665WDH1 American Honda Finance Note

1.950% Due 05/10/2023
1,775,000.00 01/07/2020

1.96%
1,774,343.25
1,774,880.64

98.65 4.20%
1,751,090.75
13,556.56

0.63%
(23,789.89)
A3 / A-
A

0.61 0.59
06406RAJ6 Bank of NY Mellon Corp Note

3.450% Due 08/11/2023
3,367,500.00 01/30/2019

3.17%
3,407,371.20
3,375,073.84

99.24 4.36%
3,341,752.10
16,135.94

1.20%
(33,321.74)
A1 / A
AA-

0.86 0.84
69371RQ90 Paccar Financial Corp Note

0.350% Due 08/11/2023
242,500.00 08/04/2020

0.39%
242,182.32
242,408.90

96.63 4.37%
234,320.23
117.88

0.08%
(8,088.67)
A1 / A+
NR

0.86 0.84
91159HHV5 US Bancorp Callable Note Cont 1/5/2024

3.375% Due 02/05/2024
1,062,500.00 04/02/2019

2.88%
1,085,598.75
1,068,630.41

98.24 4.73%
1,043,841.44
5,578.13

0.38%
(24,788.97)
A2 / A+
A+

1.35 1.29
58933YAU9 Merck & Co Callable Note Cont 2/7/2024

2.900% Due 03/07/2024
2,312,500.00 11/19/2021

0.78%
2,419,591.87
2,378,136.95

97.75 4.53%
2,260,542.75
4,470.83

0.81%
(117,594.20)
A1 / A+
A+

1.44 1.38
717081ES8 Pfizer Inc. Callable Note Cont 2/15/2024

2.950% Due 03/15/2024
3,200,000.00 06/03/2019

2.37%
3,281,376.00
3,223,805.80

97.87 4.47%
3,131,961.60
4,195.56

1.12%
(91,844.20)
A2 / A+
A

1.46 1.40
57636QAB0 MasterCard Inc Note

3.375% Due 04/01/2024
2,125,000.00 04/02/2019

2.67%
2,194,381.25
2,145,844.81

98.26 4.58%
2,088,118.50
35,859.38

0.76%
(57,726.31)
A1 / A+
NR

1.50 1.42
61772BAA1 Morgan Stanley Callable Note Cont 4/5/2023

0.731% Due 04/05/2024
1,332,500.00 Various

0.70%
1,333,334.75
1,332,717.15

97.59 4.31%
1,300,430.72
4,762.06

0.47%
(32,286.43)
A1 / A-
A

1.52 1.45
023135BW5 Amazon.com Inc Note

0.450% Due 05/12/2024
1,542,500.00 05/10/2021

0.50%
1,540,247.95
1,541,289.73

93.77 4.49%
1,446,325.13
2,680.09

0.52%
(94,964.60)
A1 / AA
AA-

1.62 1.57
931142EL3 Wal-Mart Stores Callable Note Cont 6/8/2024

2.850% Due 07/08/2024
4,100,000.00 05/12/2020

0.90%
4,418,693.00
4,232,109.62

97.17 4.52%
3,984,142.20
26,940.42

1.44%
(247,967.42)
Aa2 / AA
AA

1.77 1.69
As of September 30, 2022
27 ATTACHMENT A
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
91159HHX1 US Bancorp Callable Note Cont 6/28/2024

2.400% Due 07/30/2024
1,650,000.00 08/01/2019

2.38%
1,651,369.50
1,650,486.87

95.95 4.73%
1,583,206.35
6,710.00

0.57%
(67,280.52)
A2 / A+
A+

1.83 1.76
46647PBS4 JP Morgan Chase & Co Callable Note Cont 9/16/2023

0.653% Due 09/16/2024
1,467,500.00 09/09/2020

0.65%
1,467,500.00
1,467,500.00

95.38 4.64%
1,399,763.14
399.28

0.50%
(67,736.86)
A1 / A-
AA-

1.96 1.90
06051GJH3 Bank of America Corp Callable Note Cont 10/24/2023

0.810% Due 10/24/2024
1,907,500.00 10/16/2020

0.81%
1,907,500.00
1,907,500.00

95.09 4.74%
1,813,931.40
6,738.24

0.65%
(93,568.60)
A2 / A-
AA-

2.07 1.99
24422EVY2 John Deere Capital Corp Note

1.250% Due 01/10/2025
2,357,500.00 03/08/2022

2.17%
2,298,067.42
2,309,816.39

92.69 4.67%
2,185,251.62
6,630.47

0.79%
(124,564.77)
A2 / A
A

2.28 2.19
594918BB9 Microsoft Callable Note Cont 11/12/2024

2.700% Due 02/12/2025
2,675,000.00 03/04/2021

0.75%
2,863,881.75
2,783,554.34

95.87 4.56%
2,564,410.15
9,830.63

0.92%
(219,144.19)
Aaa / AAA
AAA

2.37 2.25
89236TGT6 Toyota Motor Credit Corp Note

1.800% Due 02/13/2025
1,887,500.00 05/20/2020

1.58%
1,905,940.87
1,896,731.09

93.35 4.80%
1,761,890.65
4,530.00

0.63%
(134,840.44)
A1 / A+
A+

2.38 2.27
66989HAP3 Novartis Capital Corp Callable Note Cont 1/14/2025

1.750% Due 02/14/2025
3,680,000.00 05/08/2020

0.98%
3,809,756.80
3,743,510.94

93.72 4.57%
3,448,951.20
8,407.78

1.24%
(294,559.74)
A1 / AA-
AA-

2.38 2.28
023135CE4 Amazon.com Inc Note

3.000% Due 04/13/2025
2,567,500.00 04/11/2022

3.06%
2,563,417.67
2,564,054.60

96.56 4.45%
2,479,301.24
35,945.00

0.90%
(84,753.36)
A1 / AA
AA-

2.54 2.37
172967MX6 Citigroup Inc Callable Note Cont 5/1/2024

0.981% Due 05/01/2025
1,355,000.00 Various

0.97%
1,355,119.25
1,355,062.72

92.68 5.06%
1,255,754.38
5,538.57

0.45%
(99,308.34)
A3 / BBB+
A

2.59 2.47
38148LAE6 Goldman Sachs Group Inc. Callable Note Cont
2/22/2025

3.750% Due 05/22/2025
1,817,500.00 02/12/2021

0.78%
2,030,474.65
1,944,616.52

95.87 5.45%
1,742,375.46
24,422.66

0.63%
(202,241.06)
A2 / BBB+
A

2.64 2.44
438516CB0 Honeywell Intl Callable Note Cont 5/1/2025

1.350% Due 06/01/2025
2,000,000.00 09/03/2021

0.80%
2,039,160.00
2,027,744.46

92.05 4.54%
1,841,026.00
9,000.00

0.66%
(186,718.46)
A2 / A
A

2.67 2.56
46647PCM6 JP Morgan Chase & Co Callable Note Cont 8/9/2024

0.768% Due 08/09/2025
1,680,000.00 08/03/2021

0.77%
1,680,000.00
1,680,000.00

91.70 4.84%
1,540,539.84
1,863.68

0.55%
(139,460.16)
A1 / A-
AA-

2.86 2.75
857477BR3 State Street Bank Callable Note Cont 2/6/2025

1.746% Due 02/06/2026
437,500.00 02/02/2022

1.75%
437,500.00
437,500.00

93.15 4.85%
407,548.75
1,167.03

0.15%
(29,951.25)
A1 / A
AA-

3.36 3.17
06051GKM0 Bank of America Corp Callable Note Cont 4/2/2025

3.384% Due 04/02/2026
1,875,000.00 03/17/2022

3.38%
1,875,000.00
1,875,000.00

94.48 5.40%
1,771,453.13
33,311.25

0.65%
(103,546.87)
A2 / A-
AA-

3.51 3.18
6174468Q5 Morgan Stanley Callable Note Cont 4/28/2025

2.188% Due 04/28/2026
2,200,000.00 08/24/2022

4.66%
2,072,268.00
2,075,697.05

91.74 5.51%
2,018,291.00
20,457.80

0.73%
(57,406.05)
A1 / A-
A

3.58 3.32
As of September 30, 2022
28 ATTACHMENT A
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
91324PEC2 United Health Group Inc Callable Note Cont 4/15/2026

1.150% Due 05/15/2026
4,000,000.00 09/19/2022

4.19%
3,592,560.00
3,595,618.86

88.53 4.62%
3,541,256.00
17,377.78

1.28%
(54,362.86)
A3 / A+
A

3.62 3.46
87612EBM7 Target Corp Callable Note Cont 12/15/2026

1.950% Due 01/15/2027
2,140,000.00 Various

1.97%
2,137,844.40
2,138,142.94

89.69 4.62%
1,919,432.34
8,809.67

0.69%
(218,710.60)
A2 / A
A

4.30 4.02
665859AW4 Northern Trust Company Callable Note Cont 4/10/2027

4.000% Due 05/10/2027
2,200,000.00 08/24/2022

3.93%
2,206,402.00
2,206,265.46

96.47 4.86%
2,122,362.00
34,466.67

0.77%
(83,903.46)
A2 / A+
A+

4.61 4.08
TOTAL Corporate 58,957,500.00 1.98%
59,590,882.65
58,973,700.09 4.67%
55,979,270.07
349,903.36

20.20%
(2,994,430.02)
A1 / A+
A+

2.32 2.19
Money Market Fund
60934N104 Federated Investors Government Obligations Fund 66,325.93 Various

2.80%
66,325.93
66,325.93

1.00 2.80%
66,325.93

0.00 0.02%

0.00 Aaa / AAA
AAA

0.00 0.00
TOTAL Money Market Fund 66,325.93 2.80%
66,325.93
66,325.93 2.80%
66,325.93

0.00 0.02%

0.00 Aaa / AAA
Aaa

0.00 0.00
Municipal Bonds
13063DRJ9 California State TE-GO

2.400% Due 10/01/2023
2,192,500.00 10/16/2019

1.87%
2,236,371.92
2,203,635.78

98.40 4.05%
2,157,376.15
26,310.00

0.78%
(46,259.63)
Aa2 / AA-
AA

1.00 0.97
797272QP9 San Diego Cmnty College Dist TE-GO

2.046% Due 08/01/2024
725,000.00 09/18/2019

2.05%
725,000.00
725,000.00

95.86 4.42%
694,948.75
2,472.25

0.25%
(30,051.25)
Aaa / AAA
NR

1.84 1.77
574193TQ1 Maryland State STE-GO

0.510% Due 08/01/2024
647,500.00 07/23/2020

0.52%
647,318.70
647,416.63

93.56 4.19%
605,788.05
550.38

0.22%
(41,628.58)
Aaa / AAA
AAA

1.84 1.79
13077DNC2 California State University TE-REV

0.685% Due 11/01/2024
625,000.00 08/27/2020

0.69%
625,000.00
625,000.00

92.42 4.53%
577,631.25
1,783.85

0.21%
(47,368.75)
Aa2 / AA-
NR

2.09 2.02
13067WRB0 California St Dept of Water TE-REV

0.560% Due 12/01/2024
77,500.00 07/30/2020

0.56%
77,500.00
77,500.00

92.05 4.45%
71,337.20
144.67

0.03%
(6,162.80)
Aa1 / AAA
NR

2.17 2.11
91412HGE7 University of California Callable STE-REV 1X 4/15/2025

0.883% Due 05/15/2025
760,000.00 07/10/2020

0.88%
760,000.00
760,000.00

91.04 4.54%
691,873.60
2,535.19

0.25%
(68,126.40)
Aa2 / AA
AA

2.62 2.53
341271AD6 Florida State Brd of Admin Fin ST TE-REV

1.258% Due 07/01/2025
1,875,000.00 09/03/2020

1.17%
1,882,423.50
1,879,229.96

90.54 4.98%
1,697,531.25
5,896.88

0.61%
(181,698.71)
Aa3 / AA
AA

2.75 2.64
54438CYK2 Los Angeles Cmnty College Dist STE-GO

0.773% Due 08/01/2025
965,000.00 10/30/2020

0.77%
965,000.00
965,000.00

89.77 4.67%
866,232.25
1,243.24

0.31%
(98,767.75)
Aaa / AA+
NR

2.84 2.74
As of September 30, 2022
29 ATTACHMENT A
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
646140DP5 New jersey St Turnpike Auth TE-REV

1.047% Due 01/01/2026
557,500.00 01/22/2021

1.05%
557,500.00
557,500.00

88.57 4.89%
493,755.45
1,459.26

0.18%
(63,744.55)
A1 / AA-
A+

3.26 3.12
TOTAL Municipal Bonds 8,425,000.00 1.26%
8,476,114.12
8,440,282.37 4.50%
7,856,473.95
42,395.72

2.83%
(583,808.42)
Aa2 / AA
AA

2.09 2.02
Negotiable CD
23341VZT1 DNB NOR BANK ASA NY Yankee CD

2.040% Due 12/02/2022
1,810,000.00 12/05/2019

2.04%
1,810,000.00
1,810,000.00

99.77 3.20%
1,805,748.31
105,746.23

0.69%
(4,251.69)
Aa2 / AA-
NR

0.17 0.17
06742TG34 Barclays Bank Yankee CD

1.050% Due 02/01/2023
2,942,500.00 02/03/2022

1.05%
2,942,500.00
2,942,500.00

99.05 3.81%
2,914,610.99
20,597.50

1.05%
(27,889.01)
P-1 / A-1
F-1

0.34 0.33
22552G3C2 Credit Suisse New York Yankee CD

0.590% Due 03/17/2023
2,032,500.00 03/19/2021

0.59%
2,032,500.00
2,032,500.00

98.28 4.34%
1,997,508.48
6,595.46

0.72%
(34,991.52)
Aa3 / A+
A

0.46 0.46
TOTAL Negotiable CD 6,785,000.00 1.18%
6,785,000.00
6,785,000.00 3.80%
6,717,867.78
132,939.19

2.46%
(67,132.22)
Aa1 / AA-
AA-

0.33 0.32
Supranational
459058JM6 Intl. Bank Recon & Development Note

0.250% Due 11/24/2023
1,870,000.00 11/17/2020

0.32%
1,865,979.50
1,868,461.56

95.45 4.35%
1,784,847.68
1,649.24

0.64%
(83,613.88)
Aaa / AAA
AAA

1.15 1.12
4581X0DZ8 Inter-American Dev Bank Note

0.500% Due 09/23/2024
4,190,000.00 09/15/2021

0.52%
4,186,899.40
4,187,954.62

92.88 4.29%
3,891,839.60
465.56

1.40%
(296,115.02)
Aaa / AAA
NR

1.98 1.93
TOTAL Supranational 6,060,000.00 0.46%
6,052,878.90
6,056,416.18 4.31%
5,676,687.28
2,114.80

2.04%
(379,728.90)
Aaa / AAA
Aaa

1.72 1.68
US Treasury
912828S92 US Treasury Note

1.250% Due 07/31/2023
807,500.00 04/02/2019

2.28%
773,307.42
800,938.66

97.58 4.23%
787,974.65
1,700.58

0.28%
(12,964.01)
Aaa / AA+
AAA

0.83 0.81
912828T26 US Treasury Note

1.375% Due 09/30/2023
2,500,000.00 08/07/2019

1.46%
2,491,503.90
2,497,957.34

97.17 4.30%
2,429,200.00

94.44 0.87%
(68,757.34)
Aaa / AA+
AAA

1.00 0.98
912828WE6 US Treasury Note

2.750% Due 11/15/2023
5,462,500.00 03/06/2019

2.52%
5,517,765.13
5,475,727.50

98.27 4.34%
5,367,758.40
56,740.23

1.95%
(107,969.10)
Aaa / AA+
AAA

1.13 1.08
91282CAW1 US Treasury Note

0.250% Due 11/15/2023
1,572,500.00 10/04/2021

0.30%
1,570,780.08
1,571,584.20

95.59 4.31%
1,503,088.28
1,484.90

0.54%
(68,495.92)
Aaa / AA+
AAA

1.13 1.10
912828U57 US Treasury Note

2.125% Due 11/30/2023
4,257,500.00 01/07/2019

2.52%
4,181,330.66
4,239,374.60

97.57 4.28%
4,153,889.48
30,404.48

1.50%
(85,485.12)
Aaa / AA+
AAA

1.17 1.13
9128285U0 US Treasury Note

2.625% Due 12/31/2023
230,000.00 01/30/2019

2.56%
230,682.81
230,173.46

97.98 4.30%
225,346.18
1,525.78

0.08%
(4,827.28)
Aaa / AA+
AAA

1.25 1.20
As of September 30, 2022
30 ATTACHMENT A
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
9128286G0 US Treasury Note

2.375% Due 02/29/2024
1,709,500.00 08/11/2021

0.35%
1,797,579.32
1,758,264.95

97.38 4.30%
1,664,625.63
3,476.85

0.60%
(93,639.32)
Aaa / AA+
AAA

1.42 1.37
912828W71 US Treasury Note

2.125% Due 03/31/2024
2,965,000.00 01/05/2022

0.88%
3,046,537.50
3,019,725.17

96.84 4.32%
2,871,418.67
173.09

1.03%
(148,306.50)
Aaa / AA+
AAA

1.50 1.45
91282CBV2 US Treasury Note

0.375% Due 04/15/2024
1,570,000.00 10/04/2021

0.40%
1,569,141.40
1,569,476.65

94.18 4.32%
1,478,682.52
2,718.55

0.53%
(90,794.13)
Aaa / AA+
AAA

1.54 1.50
912828X70 US Treasury Note

2.000% Due 04/30/2024
2,257,500.00 06/03/2019

1.90%
2,267,729.29
2,260,795.53

96.48 4.32%
2,178,047.29
18,894.29

0.79%
(82,748.24)
Aaa / AA+
AAA

1.58 1.52
912828XX3 US Treasury Note

2.000% Due 06/30/2024
5,715,000.00 07/01/2019

1.78%
5,773,935.94
5,735,614.65

96.18 4.29%
5,496,669.86
28,885.60

1.98%
(238,944.79)
Aaa / AA+
AAA

1.75 1.68
9128282N9 US Treasury Note

2.125% Due 07/31/2024
1,250,000.00 08/07/2019

1.47%
1,289,453.12
1,264,510.25

96.23 4.28%
1,202,881.25
4,475.20

0.43%
(61,629.00)
Aaa / AA+
AAA

1.84 1.76
91282CCT6 US Treasury Note

0.375% Due 08/15/2024
3,010,000.00 08/19/2021

0.42%
3,006,002.34
3,007,493.68

93.06 4.27%
2,801,063.86
1,441.61

1.01%
(206,429.82)
Aaa / AA+
AAA

1.88 1.83
9128282U3 US Treasury Note

1.875% Due 08/31/2024
7,137,500.00 Various

1.28%
7,335,869.62
7,216,366.80

95.66 4.26%
6,827,461.28
11,460.42

2.45%
(388,905.52)
Aaa / AA+
AAA

1.92 1.85
91282CCX7 US Treasury Note

0.375% Due 09/15/2024
1,577,500.00 10/04/2021

0.50%
1,571,769.24
1,573,688.38

92.80 4.25%
1,463,871.10
261.46

0.53%
(109,817.28)
Aaa / AA+
AAA

1.96 1.91
9128283D0 US Treasury Note

2.250% Due 10/31/2024
1,700,000.00 11/01/2019

1.57%
1,755,582.03
1,723,215.11

96.06 4.24%
1,633,062.50
16,006.79

0.59%
(90,152.61)
Aaa / AA+
AAA

2.09 1.99
912828YM6 US Treasury Note

1.500% Due 10/31/2024
1,060,000.00 01/12/2021

0.35%
1,106,043.75
1,085,262.65

94.59 4.24%
1,002,651.88
6,653.80

0.36%
(82,610.77)
Aaa / AA+
AAA

2.09 2.00
9128283J7 US Treasury Note

2.125% Due 11/30/2024
5,457,500.00 Various

1.66%
5,578,317.09
5,510,459.55

95.62 4.26%
5,218,308.69
38,974.15

1.89%
(292,150.86)
Aaa / AA+
AAA

2.17 2.07
912828ZC7 US Treasury Note

1.125% Due 02/28/2025
4,472,500.00 08/19/2021

0.53%
4,565,793.56
4,536,263.87

92.89 4.25%
4,154,706.51
4,308.80

1.49%
(381,557.36)
Aaa / AA+
AAA

2.42 2.34
912828ZL7 US Treasury Note

0.375% Due 04/30/2025
2,997,500.00 04/05/2021

0.70%
2,958,391.99
2,972,675.37

90.60 4.25%
2,715,782.96
4,703.96

0.98%
(256,892.41)
Aaa / AA+
AAA

2.58 2.52
912828ZW3 US Treasury Note

0.250% Due 06/30/2025
1,597,500.00 10/04/2021

0.70%
1,571,103.81
1,578,075.66

89.78 4.22%
1,434,254.67
1,009.29

0.51%
(143,820.99)
Aaa / AA+
AAA

2.75 2.68
91282CAJ0 US Treasury Note

0.250% Due 08/31/2025
8,820,000.00 Various

0.56%
8,710,250.00
8,741,240.04

89.11 4.26%
7,859,105.10
1,888.26

2.82%
(882,134.94)
Aaa / AA+
AAA

2.92 2.85
91282CAT8 US Treasury Note

0.250% Due 10/31/2025
3,500,000.00 10/04/2021

0.78%
3,425,898.44
3,443,850.37

88.57 4.24%
3,100,097.00
3,661.68

1.11%
(343,753.37)
Aaa / AA+
AAA

3.09 3.01
91282CAZ4 US Treasury Note

0.375% Due 11/30/2025
6,772,500.00 Various

0.94%
6,619,508.79
6,654,608.96

88.68 4.23%
6,005,568.56
8,535.02

2.16%
(649,040.40)
Aaa / AA+
AAA

3.17 3.08
As of September 30, 2022
31 ATTACHMENT A
Holdings Report
City of Stockton Reserve Portfolio - Account #10020
CUSIP Security Description Par Value/Units Purchase Date Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
91282CBC4 US Treasury Note

0.375% Due 12/31/2025
6,400,000.00 01/11/2021

0.49%
6,363,250.00
6,375,965.70

88.44 4.22%
5,660,249.60
6,065.22

2.03%
(715,716.10)
Aaa / AA+
AAA

3.25 3.16
9128286A3 US Treasury Note

2.625% Due 01/31/2026
1,707,500.00 02/04/2021

0.46%
1,890,055.76
1,829,537.82

95.06 4.23%
1,623,125.60
7,551.51

0.58%
(206,412.22)
Aaa / AA+
AAA

3.34 3.13
91282CBH3 US Treasury Note

0.375% Due 01/31/2026
17,305,000.00 Various

0.79%
16,971,456.65
17,069,586.89

88.09 4.24%
15,244,632.09
10,933.19

5.47%
(1,824,954.80)
Aaa / AA+
AAA

3.34 3.24
91282CBQ3 US Treasury Note

0.500% Due 02/28/2026
12,670,000.00 Various

0.94%
12,437,181.06
12,485,386.59

88.25 4.23%
11,181,769.14
5,425.00

4.01%
(1,303,617.45)
Aaa / AA+
AAA

3.42 3.32
91282CCF6 US Treasury Note

0.750% Due 05/31/2026
8,320,000.00 Various

0.80%
8,301,545.71
8,306,447.94

88.34 4.22%
7,349,871.36
20,970.49

2.64%
(956,576.58)
Aaa / AA+
AAA

3.67 3.54
91282CCZ2 US Treasury Note

0.875% Due 09/30/2026
3,700,000.00 04/05/2022

2.77%
3,406,746.09
3,438,454.06

88.01 4.16%
3,256,432.90

88.94 1.17%
(182,021.16)
Aaa / AA+
AAA

4.00 3.85
912828V98 US Treasury Note

2.250% Due 02/15/2027
2,650,000.00 09/30/2022

4.07%
2,458,185.55
2,458,305.51

92.48 4.15%
2,450,836.60
7,615.15

0.88%
(7,468.91)
Aaa / AA+
AAA

4.38 4.09
91282CBJ9 US Treasury Note

0.750% Due 01/31/2028
540,000.00 03/14/2022

2.15%
498,382.03
502,257.07

84.23 4.07%
454,823.64
682.34

0.16%
(47,433.43)
Aaa / AA+
AAA

5.34 5.12
91282CCY5 US Treasury Note

1.250% Due 09/30/2028
525,000.00 03/14/2022

2.17%
495,591.79
498,051.70

85.17 4.06%
447,152.48

18.03 0.16%
(50,899.22)
Aaa / AA+
AAA

6.01 5.66
9128286B1 US Treasury Note

2.625% Due 02/15/2029
500,000.00 03/21/2022

2.33%
509,433.59
508,711.67

92.18 4.03%
460,918.00
1,676.29

0.17%
(47,793.67)
Aaa / AA+
AAA

6.38 5.75
912828YB0 US Treasury Note

1.625% Due 08/15/2029
520,000.00 03/21/2022

2.29%
496,518.75
498,195.36

86.27 3.92%
448,581.12
1,079.21

0.16%
(49,614.24)
Aaa / AA+
AAA

6.88 6.36
912828Z94 US Treasury Note

1.500% Due 02/15/2030
542,500.00 04/06/2022

2.66%
498,040.43
500,723.20

84.89 3.87%
460,552.66
1,039.30

0.17%
(40,170.54)
Aaa / AA+
AAA

7.38 6.82
91282CAE1 US Treasury Note

0.625% Due 08/15/2030
587,500.00 04/06/2022

2.65%
498,755.37
503,792.38

78.35 3.84%
460,292.74
468.96

0.17%
(43,499.64)
Aaa / AA+
AAA

7.88 7.51
91282CBL4 US Treasury Note

1.125% Due 02/15/2031
565,000.00 04/06/2022

2.63%
498,104.88
501,685.59

80.96 3.80%
457,407.05
811.80

0.16%
(44,278.54)
Aaa / AA+
AAA

8.38 7.80
91282CCS8 US Treasury Note

1.250% Due 08/15/2031
562,500.00 04/06/2022

2.63%
498,515.62
501,758.90

80.81 3.82%
454,548.38
898.01

0.16%
(47,210.52)
Aaa / AA+
AAA

8.88 8.19
TOTAL US Treasury 135,494,500.00 1.18%
134,536,040.51
134,446,203.78 4.24%
123,986,709.68
314,802.67

44.58%
(10,459,494.10)
Aaa / AA+
Aaa

2.75 2.65
TOTAL PORTFOLIO 298,693,327.19 1.21%
298,535,589.28
297,714,894.35 4.35%
277,832,609.67
977,718.80
100.00%
(19,882,284.68)
Aa1 / AA
Aaa

2.36 2.23
TOTAL MARKET VALUE PLUS ACCRUALS 278,810,328.47
As of September 30, 2022
32 ATTACHMENT A
SECTION |
Section 4 |
Transactions
33 ATTACHMENT A
Transaction Ledger
City of Stockton Reserve Portfolio - Account #10020
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest
Pur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 08/26/2022 6174468Q5 2,200,000.00 Morgan Stanley Callable Note Cont 4/28/2025

2.188% Due: 04/28/2026

94.194 4.66% 2,072,268.00 15,777.91 2,088,045.91 0.00
Purchase 08/26/2022 665859AW4 2,200,000.00 Northern Trust Company Callable Note Cont 4/10/2027
4% Due: 05/10/2027
100.291 3.93% 2,206,402.00 25,911.11 2,232,313.11 0.00
Purchase 09/21/2022
91324PEC2 4,000,000.00 United Health Group Inc Callable Note Cont 4/15/2026

1.15% Due: 05/15/2026

89.814 4.19% 3,592,560.00 16,100.00 3,608,660.00 0.00
Purchase 09/30/2022
912828V98 2,650,000.00 US Treasury Note

2.25% Due: 02/15/2027

92.762 4.07% 2,458,185.55 7,453.13 2,465,638.68 0.00
Subtotal 11,050,000.00 10,329,415.55 65,242.15 10,394,657.70 0.00 Security
Contribution
07/29/2022
06742TG34 2,942,500.00 Barclays Bank Yankee CD

1.05% Due: 02/01/2023
100.000 2,942,500.00 0.00 2,942,500.00 0.00
Security
Contribution
07/29/2022
14042WAC4 27,664.17 Capital One Prime Auto Trust 2019-1 A3

2.51% Due: 11/15/2023

99.980 27,658.57 0.00 27,658.57 0.00
Security
Contribution
07/29/2022
14314QAC8 862,500.00 CarMax Auto Owner Trust 2021-2 A3

0.52% Due: 02/17/2026

99.978 862,314.13 0.00 862,314.13 0.00
Security
Contribution
07/29/2022
14315XAC2 452,954.56 CarMax Auto Owner Trust 2020-1 A3

1.89% Due: 12/16/2024

99.980 452,865.68 0.00 452,865.68 0.00
Security
Contribution
07/29/2022
14316LAC7 112,187.56 CarMax Auto Owner Trust 2019-2 A3

2.68% Due: 03/15/2024

99.990 112,176.09 0.00 112,176.09 0.00
Security
Contribution
07/29/2022
14316NAC3 427,686.99 CarMax Auto Owner Trust 2021-1 A3

0.34% Due: 12/15/2025

99.980 427,602.47 0.00 427,602.47 0.00
Security
Contribution
07/29/2022
172967MX6 1,310,000.00 Citigroup Inc Callable Note Cont 5/1/2024

0.981% Due: 05/01/2025
100.000 1,310,000.00 0.00 1,310,000.00 0.00
June 30, 2022 through September 30, 2022
As of September 30, 2022
34 ATTACHMENT A
Transaction Ledger
City of Stockton Reserve Portfolio - Account #10020
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest
Pur/Sold Total Amount Gain/Loss
Security
Contribution
07/29/2022
172967MX6 45,000.00 Citigroup Inc Callable Note Cont 5/1/2024

0.981% Due: 05/01/2025
100.265 45,119.25 0.00 45,119.25 0.00
Security
Contribution
07/29/2022
254683CP8 797,500.00 Discover Card Execution Trust 2021-A1 A1

0.58% Due: 09/15/2026

99.979 797,329.25 0.00 797,329.25 0.00
Security
Contribution
07/29/2022
3135G03U5 6,600,000.00 FNMA Note

0.625% Due: 04/22/2025

99.794 6,586,404.00 0.00 6,586,404.00 0.00
Security
Contribution
07/29/2022
3135G03U5 3,035,000.00 FNMA Note

0.625% Due: 04/22/2025
100.209 3,041,343.15 0.00 3,041,343.15 0.00
Security
Contribution
07/29/2022
3135G03U5 525,000.00 FNMA Note

0.625% Due: 04/22/2025
100.329 526,727.25 0.00 526,727.25 0.00
Security
Contribution
07/29/2022
3135G03U5 720,000.00 FNMA Note

0.625% Due: 04/22/2025
100.637 724,586.40 0.00 724,586.40 0.00
Security
Contribution
07/29/2022
3135G04Z3 6,642,500.00 FNMA Note

0.5% Due: 06/17/2025

99.793 6,628,750.02 0.00 6,628,750.02 0.00
Security
Contribution
07/29/2022
3135G05X7 3,995,000.00 FNMA Note

0.375% Due: 08/25/2025

99.532 3,976,303.40 0.00 3,976,303.40 0.00
Security
Contribution
07/29/2022
3135G06G3 4,625,000.00 FNMA Note

0.5% Due: 11/07/2025

99.642 4,608,442.50 0.00 4,608,442.50 0.00
Security
Contribution
07/29/2022
3135G06G3 3,520,000.00 FNMA Note

0.5% Due: 11/07/2025

99.962 3,518,662.40 0.00 3,518,662.40 0.00
Security
Contribution
07/29/2022
3135G06H1 2,180,000.00 FNMA Note

0.25% Due: 11/27/2023

99.977 2,179,498.60 0.00 2,179,498.60 0.00
June 30, 2022 through September 30, 2022
As of September 30, 2022
35 ATTACHMENT A
Transaction Ledger
City of Stockton Reserve Portfolio - Account #10020
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest
Pur/Sold Total Amount Gain/Loss
Security
Contribution
07/29/2022
3135G06H1 867,500.00 FNMA Note

0.25% Due: 11/27/2023
100.152 868,818.60 0.00 868,818.60 0.00
Security
Contribution
07/29/2022
3136AJB54 942,924.89 FNMA 2014-M4 A2
Due: 03/25/2024
104.859 988,745.15 0.00 988,745.15 0.00
Security
Contribution
07/29/2022
3137AWQH1 159,819.87 FHLMC K023 A2

2.307% Due: 08/25/2022
101.477 162,179.71 0.00 162,179.71 0.00
Security
Contribution
07/29/2022
3137BM6P6 12,141.58 FHLMC K721 A2
Due: 08/25/2022
100.852 12,244.98 0.00 12,244.98 0.00
Security
Contribution
07/29/2022
3137EAER6 830,000.00 FHLMC Note

0.375% Due: 05/05/2023
100.168 831,394.40 0.00 831,394.40 0.00
Security
Contribution
07/29/2022
3137EAER6 2,800,000.00 FHLMC Note

0.375% Due: 05/05/2023
100.490 2,813,720.00 0.00 2,813,720.00 0.00
Security
Contribution
07/29/2022
3137FQ3V3 32,933.20 FHLMC KJ27 A1

2.092% Due: 07/25/2024

99.998 32,932.41 0.00 32,932.41 0.00
Security
Contribution
07/29/2022
341271AD6 1,050,000.00 Florida State Brd of Admin Fin ST TE-REV

1.258% Due: 07/01/2025
100.707 1,057,423.50 0.00 1,057,423.50 0.00
Security
Contribution
07/29/2022
341271AD6 825,000.00 Florida State Brd of Admin Fin ST TE-REV

1.258% Due: 07/01/2025
100.000 825,000.00 0.00 825,000.00 0.00
Security
Contribution
07/29/2022
43813GAC5 722,500.00 Honda Auto Receivables Trust 2021-1 A3

0.27% Due: 04/21/2025

99.998 722,486.78 0.00 722,486.78 0.00
Security
Contribution
07/29/2022
43815MAC0 64,880.66 Honda Auto Receivables Trust 2019-2 A3

2.52% Due: 06/21/2023

99.996 64,878.24 0.00 64,878.24 0.00
June 30, 2022 through September 30, 2022
As of September 30, 2022
36 ATTACHMENT A
Transaction Ledger
City of Stockton Reserve Portfolio - Account #10020
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest
Pur/Sold Total Amount Gain/Loss
Security
Contribution
07/29/2022
44933LAC7 572,500.00 Hyundai Auto Receivables Trust 2021-A A3

0.38% Due: 09/15/2025

99.989 572,439.77 0.00 572,439.77 0.00
Security
Contribution
07/29/2022
44935FAD6 495,000.00 Hyundai Auto Receivables Trust 2021-C A3

0.74% Due: 05/15/2026

99.978 494,889.51 0.00 494,889.51 0.00
Security
Contribution
07/29/2022
61772BAA1 670,000.00 Morgan Stanley Callable Note Cont 4/5/2023

0.731% Due: 04/05/2024
100.000 670,000.00 0.00 670,000.00 0.00
Security
Contribution
07/29/2022
61772BAA1 662,500.00 Morgan Stanley Callable Note Cont 4/5/2023

0.731% Due: 04/05/2024
100.126 663,334.75 0.00 663,334.75 0.00
Security
Contribution
07/29/2022
65479CAD0 223,829.38 Nissan Auto Receivables Owner 2020-B A3

0.55% Due: 07/15/2024

99.997 223,823.25 47.87 223,871.12 0.00
Security
Contribution
07/29/2022
65479HAC1 139,208.47 Nissan Auto Receivables Trust 2019-B A3

2.5% Due: 11/15/2023

99.977 139,176.99 135.34 139,312.33 0.00
Security
Contribution
07/29/2022
65479KAD2 48,680.96 Nissan Auto Receivables Trust 2019-A A3

2.9% Due: 10/16/2023

99.985 48,673.58 54.90 48,728.48 0.00
Security
Contribution
07/29/2022
87612EBM7 780,000.00 Target Corp Callable Note Cont 12/15/2026

1.95% Due: 01/15/2027

99.830 778,674.00 0.00 778,674.00 0.00
Security
Contribution
07/29/2022
87612EBM7 1,360,000.00 Target Corp Callable Note Cont 12/15/2026

1.95% Due: 01/15/2027

99.939 1,359,170.40 0.00 1,359,170.40 0.00
Security
Contribution
07/29/2022
89232HAC9 759,227.75 Toyota Auto Receivable Own 2020-A A3

1.66% Due: 05/15/2024

99.993 759,172.93 0.00 759,172.93 0.00
Security
Contribution
07/29/2022
89236TGT6 1,887,500.00 Toyota Motor Credit Corp Note

1.8% Due: 02/13/2025
100.977 1,905,940.87 0.00 1,905,940.87 0.00
June 30, 2022 through September 30, 2022
As of September 30, 2022
37 ATTACHMENT A
Transaction Ledger
City of Stockton Reserve Portfolio - Account #10020
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest
Pur/Sold Total Amount Gain/Loss
Security
Contribution
07/29/2022
89239BAC5 1,000,000.00 Toyota Auto Receivables Trust 2021-C A3

0.43% Due: 01/15/2026

99.992 999,920.30 0.00 999,920.30 0.00
Security
Contribution
07/29/2022
9128282U3 6,775,000.00 US Treasury Note

1.875% Due: 08/31/2024
102.605 6,951,520.50 0.00 6,951,520.50 0.00
Security
Contribution
07/29/2022
9128282U3 362,500.00 US Treasury Note

1.875% Due: 08/31/2024
106.027 384,349.12 0.00 384,349.12 0.00
Security
Contribution
07/29/2022
9128283J7 2,140,000.00 US Treasury Note

2.125% Due: 11/30/2024
102.055 2,183,970.31 0.00 2,183,970.31 0.00
Security
Contribution
07/29/2022
9128283J7 3,317,500.00 US Treasury Note

2.125% Due: 11/30/2024
102.316 3,394,346.78 0.00 3,394,346.78 0.00
Security
Contribution
07/29/2022
9128286G0 1,709,500.00 US Treasury Note

2.375% Due: 02/29/2024
105.152 1,797,579.32 0.00 1,797,579.32 0.00
Security
Contribution
07/29/2022
912828ZC7 4,472,500.00 US Treasury Note

1.125% Due: 02/28/2025
102.086 4,565,793.56 0.00 4,565,793.56 0.00
Security
Contribution
07/29/2022
91282CAJ0 4,140,000.00 US Treasury Note

0.25% Due: 08/31/2025

98.891 4,094,071.88 0.00 4,094,071.88 0.00
Security
Contribution
07/29/2022
91282CAJ0 1,840,000.00 US Treasury Note

0.25% Due: 08/31/2025

98.883 1,819,443.75 0.00 1,819,443.75 0.00
Security
Contribution
07/29/2022
91282CAJ0 2,840,000.00 US Treasury Note

0.25% Due: 08/31/2025

98.477 2,796,734.37 0.00 2,796,734.37 0.00
Security
Contribution
07/29/2022
91282CAZ4 3,195,000.00 US Treasury Note

0.375% Due: 11/30/2025

98.238 3,138,713.09 0.00 3,138,713.09 0.00
June 30, 2022 through September 30, 2022
As of September 30, 2022
38 ATTACHMENT A
Transaction Ledger
City of Stockton Reserve Portfolio - Account #10020
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest
Pur/Sold Total Amount Gain/Loss
Security
Contribution
07/29/2022
91282CAZ4 3,577,500.00 US Treasury Note

0.375% Due: 11/30/2025

97.297 3,480,795.70 0.00 3,480,795.70 0.00
Security
Contribution
07/29/2022
91282CBC4 6,400,000.00 US Treasury Note

0.375% Due: 12/31/2025

99.426 6,363,250.00 0.00 6,363,250.00 0.00
Security
Contribution
07/29/2022
91282CBH3 4,075,000.00 US Treasury Note

0.375% Due: 01/31/2026

97.930 3,990,634.77 0.00 3,990,634.77 0.00
Security
Contribution
07/29/2022
91282CBH3 5,425,000.00 US Treasury Note

0.375% Due: 01/31/2026

98.172 5,325,824.22 0.00 5,325,824.22 0.00
Security
Contribution
07/29/2022
91282CBH3 7,805,000.00 US Treasury Note

0.375% Due: 01/31/2026

98.078 7,654,997.66 0.00 7,654,997.66 0.00
Security
Contribution
07/29/2022
91282CBQ3 6,035,000.00 US Treasury Note

0.5% Due: 02/28/2026

99.105 5,981,015.04 0.00 5,981,015.04 0.00
Security
Contribution
07/29/2022
91282CBQ3 6,635,000.00 US Treasury Note

0.5% Due: 02/28/2026

97.305 6,456,166.02 0.00 6,456,166.02 0.00
Security
Contribution
07/29/2022
91282CCF6 5,065,000.00 US Treasury Note

0.75% Due: 05/31/2026

99.781 5,053,920.32 0.00 5,053,920.32 0.00
Security
Contribution
07/29/2022
91282CCF6 3,255,000.00 US Treasury Note

0.75% Due: 05/31/2026

99.773 3,247,625.39 0.00 3,247,625.39 0.00
June 30, 2022 through September 30, 2022
As of September 30, 2022
39 ATTACHMENT A
Transaction Ledger
City of Stockton Reserve Portfolio - Account #10020
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest
Pur/Sold Total Amount Gain/Loss
Security
Contribution
07/29/2022
91412HGE7 760,000.00 University of California Callable STE-REV 1X 4/15/2025

0.883% Due: 05/15/2025
100.000 760,000.00 0.00 760,000.00 0.00
Subtotal 135,551,140.04 135,204,075.08 238.11 135,204,313.19 0.00 TOTAL ACQUISITIONS 146,601,140.04 145,533,490.6
3 65,480.26 145,598,970.89 0.00

DISPOSITIONS
Sale 09/21/2022
88579YBM2 1,450,000.00 3M Co. Callable Note Cont 3/15/2025

2.65% Due: 04/15/2025

95.363 3.32% 1,382,763.50 16,650.83 1,399,414.33 -43,591.49 Subtotal 1,450,000.00 1,382,763.50 16,650.83 1,399,414.33 -43,591.49 Maturity 08/26/2022 83050PDR7 3,682,500.00 Skandinav Enskilda BK NY Yankee CD

1.86% Due: 08/26/2022
100.000 3,682,500.00 0.00 3,682,500.00 0.00
Maturity 09/12/2022
19423KJC9 1,925,000.00 Collateralized CP Flex CO LLC Discount CP

2.53% Due: 09/12/2022

99.529 1,925,000.00 0.00 1,925,000.00 0.00
Maturity 09/16/2022
53127UJG6 1,625,000.00 Liberty Street Funding LLC Discount CP

2.15% Due: 09/16/2022

99.457 1,625,000.00 0.00 1,625,000.00 0.00
Subtotal 7,232,500.00 7,232,500.00 0.00 7,232,500.00 0.00 TOTAL DISPOSITIONS 8,682,500.00 8,615,263.50 16,650.83 8,631,914.33 -43,591.49 June 30, 2022 through September 30, 2022
As of September 30, 2022
40 ATTACHMENT A
Important Disclosures
2022 Chandler Asset Management, Inc, An IndependentRegistered Investment Adviser.

Information containedherein is confidential. Prices are provided byICE Data Services Inc (“IDS”), an independentpricing source. In the event IDS does notprovide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance withour written valuation policy and procedures. Our valuation procedures are also disclosed inItem 5 of ourForm ADVPart 2A.

Performance results arepresented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends andother earnings. Past performance maynot be indicativeof future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals maymaterially alterthe performance andresults of your portfolio.

Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly inan index.

Source ICE Data Indices, LLC ("ICE"), used with permission. ICEpermits use of the ICEindices and related data on an "as is" basis; ICE, its affiliates and their respective third partysuppliers disclaim any and all warrantiesand representations, expressand/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and anydata included in, related to, or derived therefrom. Neither ICE data, its affiliates or their respective third party providersguarantee the quality, adequacy, accuracy,timeliness or completeness of the indices or the index dataor any component thereof, and the indices and index data andall components thereof areprovided on an "as is" basis andlicensee's use it at licensee's own risk. ICE data, its affiliates and their respective third partydo not sponsor,endorse, or recommend chandlerasset management, or any of its products or services.

This report is pr ovided for informational purposesonly and should not be construedas a specific investment or legal advice. The information containedherein was obtained from sources believedto be reliable as of the dateof publication, but may become outdatedor superseded at anytime without notice. Any opinions or views expressedare based on current market conditions and are subject to change. This report may contain forecasts and forward-looking statements which are inherently limited and shouldnot be relied upon as indicator of future results. Past performance is not indicative of future results. This report is not intended to constitute an offer, solicitation, recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment.

Fixed income investments are subject to interest, credit and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise. Credit risk: the possibility that the borrower may not be ableto repay interest and principal. Low rated bonds generally have to pay higherinterest rates to attract investors willing to take on greater risk. Market risk: the bond marketin general could declinedue to economic conditions, especiallyduring periodsof rising interest rates.

Ratings information havebeen provided byMoody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guaranteeits accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflectthe issuer rating becausethe securities themselves are not rated. The issuing U.S. Agency guaranteesthe full and timely payment of both principal andinterest and carries a AA+/Aaa/AAA byS&P, Moody’s and Fitch respectively.

As of September 30, 2022
41 ATTACHMENT A
Benchmark Disclosures
ICE BofA 1-5 Yr US Treasury & Agency Index
The ICE BofA 1-5 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinatedUS agency debt issued in the US domesticmarket. Qualifying securities must have aninvestment grade rating (based on an averageof Moody’s, S&Pand Fitch). Qualifying securities must have atleast one yearremaining termto final maturity and less than five years remaining term to final maturity, atleast 18 months to maturityat time of issuance, a fixed coupon schedule, and a minimum amount outstandingof $1billion for sovereigns and$250 million for agencies.

ICE BofA 1-5 Yr AAA-A US Corp & Govt Index
The ICE BofA US 1-5 Year AAA-A US Corporate & Government Index tracks the performance of US dollar denominated investment grade debt publicly issued in the US domestic market, including US Treasury, US agency, foreign government, supranational, andcorporate securities. Qualifying securities must be issued fromUS issuers and berated AAA through A3 (based on an averageof Moody’s, S&P and Fitch). In addition, qualifying securities must have atleast one year remaining term to final maturity and less than five years remaining termto final maturity, atleast 18 months to final maturity at point of issuance, a fixed coupon schedule, anda minimum amount outstandingof $1billion for US Treasuries and $250 million for all other securities.

As of September 30, 2022
42 ATTACHMENT A

City Council and Concurrent AuthoritiesNovember 15, 2022

City Council and Concurrent Authorities
November 15, 2022