Attachment A - Combined Quarterly Investment Report — City Council and Concurrent Authorities, December 10, 2024

Investment Performance Review
For the Quarter Ended September 30, 2024
Client Management Team PFM Asset Management LLC
Monique Spyke, Managing Director
Allison Kaune, Senior Analyst
Joseph Creason, Portfolio Manager
Rachael Miller, Client Consultant
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
1 ATTACHMENT A
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Market Update
2 ATTACHMENT A
PFM Asset Management LLC
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Current Market Themes
▸ The U.S. economy is characterized by:
▹ A labor market that reached better balance and support consumer activity ▹ Infla
tion that has made meaningful progress towards the Federal Reserve’s (Fed) 2% target, although shelter costs remain a headwind
▹ Resilient economic growth and consumer spending that support the ‘soft landing’ scenario ▸ Fed begins the easing cycle
▹ The Fed cut the federal funds target rate by 50 basis points (bps) to 4.75% - 5.00% at its Septe
mber FOMC meeting
▹ Fed officials note they have gained greater confidence the risks to their dual mandate are “roughly” in balance
▹ The Fed’s September “dot plot” implies 50 bps of additional cuts in 2024 and 100 bps through 2025
▸ Treasury yields continued their descent
▹ Yields on maturities between 3 months and 10 years fell 62-112 bps during the 3 rd quarter
▹ The yield curve began to disinvert in the 3rd quarter as the spread between the 2-year and 10-year Treasury reached positive territory for the first time in over 2 years ▹ Despite intra-quarter spread widening, yield spreads across most credit sectors were range bound at tight levels, reflecting the strength of the economy Source: Bloomberg Finance L.P., as of September 30, 2024.

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
3 ATTACHMENT A
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; Average Cutting Cycle represents the average change in the Fed Funds Rate for the first 10 months of a cutting cycle
back to 1988. Market Implied Fed Funds as of September 30, 2024. Bloomberg Finance L.P. CPI inflation and Nonfarm payrolls from Bureau of Labor Statistics and Bloomberg Finance L.P. 0%
1%
2%
3%
4%
5%
6%
2021 2022 2023 2024 2025
Federal Funds Rate
Fed Funds Upper Bound Market Implied Fed Fund Rates Median FOMC Projections Average Cutting Cycle Dec-22
CPI Inflation

6.5% Dec-23
CPI Inflation

3.4%
Aug-24
CPI Inflation

2.5%
Dec-21
CPI Inflation

7.0%
The Fed Begins the Cutting Cycle With 50bps
Fed Chair Powell: “[I]f we’d have gotten the July [jobs] report before the [July FOMC] meeting would we have cut, well we might have.”

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
4 ATTACHMENT A
Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; Bureau of Labor Statistics and Bloomberg Finance L.P., as of September 2024. Data is seasonally adjusted.

For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC | pfmam.com
Sept-24
254
0 50
100
150
200
250
300
350
400
450
500
Sep-22 Sep-23 Sep-24
Thousands
Monthly Change In
Nonfarm Payrolls
Nonfarm Payrolls 3-month Moving Average
Sept-24

4.1%
3%
4%
5%
Sep-22 Sep-23 Sep-24
Unemployment Rate
Labor Market Moves Into Better Balance
Fed Chair Powell: “…labor market conditions have cooled off by any measure … [but] the level of those conditions is actually pretty close to what I would call maximum employment”

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
5 ATTACHMENT A
Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; Bureau of Labor Statistics and Bloomberg Finance L.P., as of August 2024. © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
Aug-24

5.2%
Aug-24

2.5%
0%
1%
2 %
3%
4%
5%
6 %
7%
8%
9%
10%
Aug-21 Dec-21 Apr-22 Aug-22 Dec-22 Apr-23 Aug-23 Dec-23 Apr-24 Aug-24 Consumer Price Index (CPI)
Top-Line Contributions, Year-over-Year Changes
Shelter CPI Ex-Shelter Headline Shelter YoY% Headline CPI YoY% The shelter
component of
CPI continues to
remain outsized
accounting for
74% of the
increase in the
headline figure
Shelter Inflation increased

5.2% while CPI Ex-Shelter
increased 1.0% (YoY)
Fed Chair Powell: “[H]ousing inflation is the … one piece that is kind of dragging a bit … it’s been slower than we expected”
Inflation Trends Lower

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
6 ATTACHMENT A
Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; (Left) Bureau of Economic Analysis and Bloomberg Finance L.P. as of September 2024. (Right) U.S. Census Bureau and Bloomberg Finance L.P., as of August 2024.
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
Fed Chair Powell: “…if you look at the growth in economic activity data—the [September] retail sales data [and] second quarter GDP—all of this indicates an economy that is still growing at a solid pace.” $11,000
$12,000
$13,000
$14,000
$15,000
$16,000
$17,000
2008 2010 2012 2014 2016 2018 2020 2022 2024
Billions
U.S. Real Personal Consumption Expenditure

4.4%

3.2%

1.6%

3.0%

2.0%

1.4%

1.8%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%
Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 2025
U.S. GDP Forecasts
Annualized Rate
Actual Range Median of Forecasts
Personal Consumption
is the main driver of
GDP and accounts for
69% of overall GDP
Pre-pandemic
trend
Consumer Activity Remains Solid

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
7 ATTACHMENT A
Source: Federal Reserve Chair Jerome Powell Press Conference as of September 18, 2024; Bloomberg Finance L.P., as of September 30, 2024. © PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
Fed Chair Powell: “…we’re recalibrating policy down over time to a more neutral level. And we’re moving at the pace that we think is appropriate given developments in the economy… The economy can develop in a way that would cause us to go faster or slower…”

4.76%

3.64%

3.5%

4.0%

4.5%

5.0%
30-Jun 31-Jul 31-Aug 30-Sep
2-Year U.S. Treasury Yield
June 30, 2024 – September 30, 2024
-112 bp
Dovish Fed Press Conference
Weak ISM Manufacturing
Weak Payrolls
Fedspeak prior to blackout period
calling for policy easing
Yields Reprice Lower In Anticipation of Fed Cuts

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
8 ATTACHMENT A
Fed’s Updated Summary of Economic Projections
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For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: Federal Reserve Chair Jerome Powell Press Conference; Federal Reserve. As of September 2024.

For the Quarter Ended September 30, 2024
Market Up
date

4.4%

3.4%

2.9% 2.9% 2.8%
0%
1%
2%
3%
4%
5%
6 %
2024 2025 2026 2027 Longer
Run
Federal Funds Rate
June Projections Sept Projections

2.3% 2.1% 2.0% 2.0% 2.0%
0%
1%
1%
2%
2%
3%
3 %
4%
4%
2024 2025 2026 2027 Longer
Run
PCE Inflation
June Projections Sept Projections

4.4% 4.4% 4.3% 4.2% 4.2%
0%
1%
2%
3%
4%
5%
6%
2024 2025 2026 2027 Longer
Run
Unemployment Rate
June Projections Sept Projections

2.0% 2.0% 2.0% 2.0% 1.8%
0%
1%
2%
3%
4%
20 24 2025 2026 2027 Longer
Run
Change in Real GDP
June Projections Sept Projections
Fed Chair Powell: “These median projections are lower than in June, consistent with projections for lower inflation and higher unemployment, as well as the change to balance of risks.”

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Market Update
© PFM Asset Management LLC pfmam.com|
9 ATTACHMENT A
U.S. Treasury Yields Fall as the Yield Curve Begins to Disinvert PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: Bloomberg Finance L.P., as of September 30, 2024 For the Quarter Ended September 30, 2024
Market Upd
ate

4.64%

3.60%

3.53%

3.63%

3.76%

4.10%

3.00%

3.50%

4.00%

4.50%

5.00%

5.50%

6.00% Yield
Maturity
U.S. Treasury Yield Curve
1 Year Range
September 30, 2024
June 30, 2024
3mo 2yr 5yr 7yr 10yr 20yr 30yr

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Market Update
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10 ATTACHMENT A
Fixed-Income Index Total Returns in 3Q 2024
1-5 Year Indices
PFM Asset Management LLC
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: ICE BofA Indices. ABS indices are 0-5 year, based on weighted average life. As of September 30, 2024.

For the Quarter Ended September 30, 2024
Market Up
date

3.39%

2.77%

2.58%

3.70% 3.76%
0%
1%
2%
3%
4%
5%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
Third Quarter 2024 Returns

7.44%

7.04%

7.43%

9.33%

10.15%
0%
2%
4%
6%
8%
10%
12%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
1-Year Return

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Market Update
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11 ATTACHMENT A
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Account Summary
12 ATTACHMENT A
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1. Reserve Portfolio includes both the PFMAM Reserve portfolio assets and Chandler Asset Management assets. Short-Term Portfolio comprises assets managed by Chandler Asset Management.

Portfolio figures include cash in portfolios’ sweep accounts and excludes accrued interest.

17.0%

1.8% 0.3% 2.2%

7.2%

16.5%

8.2%

16.5% 15.9%

6.9% 7.5%

0.0%
$0
$100
$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: 1,046 days
For the Quarter Ended September 30, 2024
Account Summary
13 ATTACHMENT A
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Portfolio Review:

CITY OF STOCKTON RESERVE PORTFOLIO
14 ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Compliance
|
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Financial LP Asset and Investment Management ("AIM").

Certificate of Compliance
During the reporting period for the quarter ended September 30, 2024, the account(s) managed by PFM Asset Management ("PFM
AM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged :PFM Asset Management LLC
15 ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Portfolio Snapshot
|
Yield and duration calculations exclude cash and cash equivalents. Sector allocation includes market values and accrued interest.

The portfolio’s benchmark is currently 80% ICE BofA 1-5 Year AAA-A US Corporate & Government Index and 20% ICE BofA 5-10 Year US Treasury Index. Prior to 3/31/23 it was the ICE BofA 1-5 year US Gov/Corp A-AAA. Source: Bloomberg Financial LP.

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

1. Portfolio Snapshot - CITY OF STOCKTON RESERVE PORTFOLIO¹ Credit Quality - S&P
5%
24%
19%
27%
9%
6% 6% 4%4%
27%
19%
12%
6% 6% 5%
0%
5%
10%
15%
20%
25%
30%
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 | 53%
Agency CMBS | 19%
Corporate | 16%
ABS | 7%
Federal Agency | 3%
Negotiable CD | 1%
Municipal | 1%
Sector Allocation
AAA | 6%
AA+ | 77%
AA | 1%
AA- | 1%
A+ | 9%
A | 3%
A- | 2%
BBB+ | <1%
Not Rated | 2%
Portfolio Statistics
Portfolio Effective Duration
Benchmark Effective Duration
Portfolio Credit Quality
Yield At Market
Yield At Cost
Total Market Value
Securities Sub-Total
Cash
$464,936,762.55
$460,255,139.90
$2,270,018.61
$2,411,604.04

3.24 years

3.73%

3.83%
AA
Accrued Interest
21%
16 ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Portfolio Characteristics
|
$0.0
$94.0
$188.0
$282.0
$376.0
$470.0
Millions
September 2024
$0.0
$94.0
$188.0
$282.0
$376.0
$470.0
Millions
June 2024
$0.0
$94.0
$188.0
$282.0
$376.0
$470.0
Millions
March 2024
$0.0
$94.0
$188.0
$282.0
$376.0
$470.0
Millions
December 2023
Sector Allocation Review - CITY OF STOCKTON RESERVE PORTFOLIO U.S. Treasury Federal Agency Agency CMBS Supranational Municipal Negotiable CD 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-23 % of TotalSecurity Type Mar-24 % of Total Jun-24 % of Total % of TotalSep-24 U.S. Treasury $217.7 50.5% $215.3 49.8% $224.0 50.4% $244.8 53.2% Federal Agency $33.4 7.8% $32.7 7.6% $26.3 5.9% $14.3 3.1% Agency CMBS $57.0 13.2% $76.5 17.8% $82.8 18.6% $88.8 19.3% Supranational $4.1 0.9% $0.0 0.0% $0.0 0.0% $0.0 0.0%
Municipal $5.9 1.4% $6.0 1.4% $3.8 0.8% $3.8 0.8%
Negotiable CD $6.9 1.6% $4.2 1.0% $4.2 0.9% $4.3 0.9%
Corporate $75.9 17.6% $62.8 14.6% $71.2 16.0% $72.0 15.7% ABS $30.0 7.0% $33.6 7.8% $32.9 7.4% $32.3 7.0%
Total $431.0 100.0% $431.1 100.0% $445.2 100.0% $460.3 100.0% 17 ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Portfolio Activity - CITY OF STOCKTON RESERVE PORTFOLIO Net Activity by Sector
($ mil
lions)
Federal Agency
ABS
Corporate
Municipal
Agency CMBS
U.S. Treasury
Federal Agency
ABS
Corp
orate
Municipal
Agency CMBS
U.S. Treasury
($20.0) ($10.0) $0.0 $10.0 $20.0 $30.0
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
U.S. Treasury $13,060,400
Agency CMBS $3,498,352
Municipal ($7,519)
Corporate ($1,126,998)
ABS ($1,195,270)
Federal Agency ($12,472,741)
$1,756,224Total Net Activity
Sales/Maturities Purchases
18 ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended September 30, 2024
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.

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

3. Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.

4. The portfolio’s benchmark is currently 80% ICE BofA 1-5 Year AAA-A US Corporate & Government Index and 20% ICE BofA 5-10 Year US Treasury Index. Prior to 3/31/23 it was the ICE BofA 1-5 year US Gov/Corp A-AAA. Source: Bloomberg Financial LP.

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%
Return
Portfolio Benchmark
Portfolio Performance - CITY OF STOCKTON RESERVE PORTFOLIO Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years Since Inception¹ Interest Earned² $3,551, 405 $12,731,286 $25,752,968 $44,727,216 $62,918,259 Change in Market Value $13,281,682 $23,344,082 ($17,721,008) ($13,374,519) ($6,019,179) $16,833,087Total Dollar Return $36,075,368 $8,031,960 $31,352,697 $56,899,080 Total Return³
Portfolio 3.76% 8.50% 1.10% 1.60% 1.91%
Benchmark⁴ 3.82% 8.33% 0.77% 1.36% 1.72%
3 Months 1 Year 3 Years 5 Years Since Inception
19 ATTACHMENT A
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CITY OF STOCKTON
For the Quarter Ended September 30, 2024
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
Realize
d Gains / (Losses)³
Change in Amortized Cost
Total Earnings
3 Months
$3,551,404
($813,4
14)
$601,525
$3,339,516
1 Year
$12,731,285
($2,486
,792)
$2,296,671
$12,541,164
3 Years
$25,752,968
($18,40
0,915)
$16,802,370
$24,154,422
5 Year
$44,727,216
($10,69
2,906)
$15,551,689
$49,585,999
Since Inception¹
$62,918,259
($13,14
8,532)
$17,658,299
$67,428,026
20 ATTACHMENT A
Factors to Consider for 6-12 Months
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended September 30, 2024
Market Update
Current outlook Outlook one quarter ago
Negative Slightly
Negative
Neutral Slightly
Positive
Positive
Statements and opinions expressed about the next 6-12 months were developed based on our independent research with information obtained from Bloomberg and FactSet. The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC at the time of distribution (9/30/2024) and are subject to change. Information is obtained from sources believed to be reliable and available to the public; however, PFM Asset Management LLC cannot guarantee its accuracy, completeness, or suitability.

Monetary Policy (Global):
• The Fed has begun its easing cycle with a 50 basis
point (bp) cut. The FOMC’s September median “dot
plot” projection suggests an additional 50 bps in rate
cuts by the end of the year “if the economy performs
as expected”. The projections also calls for an
additional full percentage point of cuts in 2025.
• The global easing cycle is underway with nearly all
major central banks (excluding the Bank of Japan)
completing multiple rate cuts.

Economic Growth (Global):
• U.S. economic growth remains strong reflecting a
consumer who continues to spend at elevated
levels.
• Economic growth outside the U.S. remains mixed.
• China has moved forward with a package of
stimulus measures aimed to boost growth. The
country remains poised to take additional swift
action should it be deemed necessary.

Inflation (U.S.):
• Inflation continues its trend lower but has been
buoyed by stubborn housing costs.
• The broad-based inflation cooling helped fuel the
Fed’s decision to cut by 50 bps but policy makers
note they are not declaring victory on price stability.

Financial Conditions (U.S.):
• The continuation of stable market measures, such
as narrow corporate yield spreads, record equity
index levels and low volatility, reflect economic
confidence.
• We remain focused on the cooling labor market and
effects this might have on the consumer as potential
catalysts for a broader slow down, but that is not our
base case expectation.

Consumer Spending (U.S.):
• The consumer continues to spend and support
economic strength. Upward revisions to the
personal savings rate paint the consumer in better
light than previously thought but the trend of
consumers dipping into savings continues.
• Moderation in the pace of overall spending is
expected given slowing wage growth and cooling
labor market conditions.

Labor Markets:
• The labor market continues to moderate from
extremely strong levels seen in prior quarters. The
recent downward revisions to nonfarm payrolls
through March 2024 further emphasized the
cooling.
• Other labor metrics remain well positioned such as
the layoffs and discharge rate pointing towards
moderation rather than deterioration.

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Market Update
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21 ATTACHMENT A
© PFM Asset Management LLC pfmam.com|
Reserve Portfolio Holdings and Transactions
22 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Portfolio Holdings
|
Managed Account Detail of Securities Held
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
U.S. Treasury

US TREASURY N/B
DTD 11/30/2017 2.125% 11/30/2024
9128283J7 7,500.00 AA+ Aaa 1/3/2020 1/7/2020 7,673.73 1.63 53.56 7,467.487,505.83

US TREASURY N/B
DTD 03/02/2020 1.125% 02/28/2025
912828ZC7 12,500.00 AA+ Aaa 10/4/2021 10/6/2021 12,719.24 0.60 12.04 12,331.0512,526.50

US TREASURY N/B
DTD 04/30/2020 0.375% 04/30/2025
912828ZL7 112,500.00 AA+ Aaa 4/5/2021 4/7/2021 111,032.23 0.70 176.55 109,974.94112,291.31

US TREASURY N/B
DTD 06/30/2020 0.250% 06/30/2025
912828ZW3 22,500.00 AA+ Aaa 10/4/2021 10/6/2021 22,128.22 0.70 14.22 21,861.5622,425.81

US TREASURY N/B
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 5,889,342.516,074,471.56

US TREASURY N/B
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 2,633,053.052,715,580.46

US TREASURY N/B
DTD 11/02/2020 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 3,364,648.003,480,302.75

US TREASURY N/B
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 6,503,983.926,720,247.22

US TREASURY N/B
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 700,000.00 AA+ Aaa 1/11/2021 1/13/2021 695,980.47 0.49 663.38 670,632.90698,989.02

US TREASURY N/B
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 5,401.83 5,460,867.905,674,916.51

US TREASURY N/B
DTD 02/01/2021 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 8,099,913.458,376,486.50

US TREASURY N/B
DTD 02/01/2021 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 1,142,111.691,188,298.60

US TREASURY N/B
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 1,681,621.131,756,295.09

US TREASURY N/B
DTD 02/01/2021 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 7,297,090.177,493,187.81

US TREASURY N/B
DTD 03/01/2021 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 1,891,131.661,962,199.42 23 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

US TREASURY N/B
DTD 03/01/2021 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 10,210,200.7310,537,465.96

US TREASURY N/B
DTD 06/01/2021 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 4,152,559.924,207,883.16

US TREASURY N/B
DTD 06/01/2021 0.750% 05/31/2026
91282CCF6 805,000.00 AA+ Aaa 6/7/2021 6/7/2021 803,176.17 0.80 2,029.00 766,699.71804,391.39

US TREASURY N/B
DTD 06/01/2021 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 3,004,891.413,147,201.99

US TREASURY N/B
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 3,504,159.003,569,406.17

US TREASURY N/B
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 2,455,169.082,489,098.68

US TREASURY N/B
DTD 02/15/2017 2.250% 02/15/2027
912828V98 1,390,000.00 AA+ Aaa 5/12/2023 5/12/2023 1,328,047.27 3.52 3,994.36 1,346,833.551,350,935.99

US TREASURY N/B
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 2,456.96 828,447.97841,091.79

US TREASURY N/B
DTD 03/31/2022 2.500% 03/31/2027
91282CEF4 5,350,000.00 AA+ Aaa 5/9/2023 5/10/2023 5,138,925.78 3.60 367.45 5,211,237.055,214,680.78

US TREASURY N/B
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 4,473,597.484,563,836.92

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2027
91282CEW7 4,300,000.00 AA+ Aaa 3/30/2023 3/31/2023 4,214,000.00 3.76 35,317.26 4,262,542.704,244,476.80

US TREASURY N/B
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 3,876,649.313,926,452.17

US TREASURY N/B
DTD 08/01/2022 2.750% 07/31/2027
91282CFB2 5,000,000.00 AA+ Aaa 5/12/2023 5/12/2023 4,857,226.56 3.48 23,165.76 4,887,110.004,904,292.69

US TREASURY N/B
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 2,630,718.092,647,667.29

US TREASURY N/B
DTD 08/31/2022 3.125% 08/31/2027
91282CFH9 5,030,000.00 AA+ Aaa 3/24/2023 3/24/2023 4,971,644.14 3.41 13,460.81 4,965,751.814,991,696.09

US TREASURY N/B
DTD 09/30/2020 0.375% 09/30/2027
91282CAL5 2,400,000.00 AA+ Aaa 10/28/2022 10/31/2022 1,998,843.75 4.17 24.73 2,182,968.002,155,507.00

US TREASURY N/B
DTD 10/31/2022 4.125% 10/31/2027
91282CFU0 4,250,000.00 AA+ Aaa 3/30/2023 3/31/2023 4,320,224.61 3.73 73,364.47 4,315,909.004,297,165.78 24 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

US TREASURY N/B
DTD 10/31/2022 4.125% 10/31/2027
91282CFU0 1,790,000.00 AA+ Aaa 12/1/2022 12/2/2022 1,820,346.09 3.74 30,899.39 1,817,759.321,809,029.74

US TREASURY N/B
DTD 11/02/2020 0.500% 10/31/2027
91282CAU5 5,340,000.00 AA+ Aaa 1/4/2023 1/6/2023 4,547,552.34 3.91 11,173.37 4,862,112.724,833,175.88

US TREASURY N/B
DTD 01/03/2023 3.875% 12/31/2027
91282CGC9 2,945,000.00 AA+ Aaa 2/1/2023 2/2/2023 2,981,582.42 3.60 28,839.79 2,972,035.102,969,197.85

US TREASURY N/B
DTD 02/01/2021 0.750% 01/31/2028
91282CBJ9 4,500,000.00 AA+ Aaa 5/12/2023 5/12/2023 3,976,347.66 3.44 5,686.14 4,101,502.504,130,559.48

US TREASURY N/B
DTD 02/01/2021 0.750% 01/31/2028
91282CBJ9 540,000.00 AA+ Aaa 3/14/2022 3/15/2022 498,382.03 2.15 682.34 492,180.30516,420.36

US TREASURY N/B
DTD 02/28/2023 4.000% 02/29/2028
91282CGP0 4,825,000.00 AA+ Aaa 3/24/2023 3/24/2023 4,967,299.80 3.35 16,527.62 4,888,704.484,923,339.18

US TREASURY N/B
DTD 03/31/2023 3.625% 03/31/2028
91282CGT2 4,260,000.00 AA+ Aaa 3/30/2023 3/31/2023 4,253,510.16 3.66 424.24 4,266,658.384,255,463.86

US TREASURY N/B
DTD 03/31/2021 1.250% 03/31/2028
91282CBS9 5,735,000.00 AA+ Aaa 5/9/2023 5/10/2023 5,152,315.04 3.53 196.94 5,297,482.595,318,610.13

US TREASURY N/B
DTD 03/31/2021 1.250% 03/31/2028
91282CBS9 1,985,000.00 AA+ Aaa 5/8/2023 5/10/2023 1,786,655.08 3.49 68.17 1,833,566.341,843,261.63

US TREASURY N/B
DTD 05/01/2023 3.500% 04/30/2028
91282CHA2 2,050,000.00 AA+ Aaa 5/1/2023 5/1/2023 2,040,230.47 3.61 30,025.82 2,043,993.502,043,007.24

US TREASURY N/B
DTD 05/15/2018 2.875% 05/15/2028
9128284N7 705,000.00 AA+ Aaa 11/30/2022 11/30/2022 666,280.08 4.00 7,655.86 687,788.13679,316.24

US TREASURY N/B
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 18.03 479,493.00507,042.67

US TREASURY N/B
DTD 11/16/1998 5.250% 11/15/2028
912810FF0 1,000,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,064,765.63 4.02 19,830.16 1,064,453.001,044,803.42

US TREASURY N/B
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 1,676.29 480,488.50505,977.35

US TREASURY N/B
DTD 02/16/1999 5.250% 02/15/2029
912810FG8 1,875,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,027,856.45 3.74 12,572.18 2,008,740.001,984,683.25

US TREASURY N/B
DTD 02/15/2019 2.625% 02/15/2029
9128286B1 2,165,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,991,630.86 4.15 7,258.34 2,080,515.212,037,857.33

US TREASURY N/B
DTD 05/31/2022 2.750% 05/31/2029
91282CES6 490,000.00 AA+ Aaa 1/11/2023 1/12/2023 464,523.83 3.67 4,528.48 472,180.17471,387.42 25 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

US TREASURY N/B
DTD 05/31/2024 4.500% 05/31/2029
91282CKT7 960,000.00 AA+ Aaa 6/6/2024 6/7/2024 968,700.00 4.30 14,518.03 997,762.56968,199.92

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 490,000.00 AA+ Aaa 7/7/2023 7/10/2023 464,026.17 4.26 4,024.52 482,611.78469,370.92

US TREASURY N/B
DTD 07/31/2024 4.000% 07/31/2029
91282CLC3 6,075,000.00 AA+ Aaa 8/1/2024 8/2/2024 6,117,240.23 3.85 40,940.22 6,186,530.936,115,991.85

US TREASURY N/B
DTD 08/16/1999 6.125% 08/15/2029
912810FJ2 1,775,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,023,083.98 3.72 13,885.28 1,975,866.101,958,281.31

US TREASURY N/B
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 1,079.21 475,333.04504,545.64

US TREASURY N/B
DTD 08/31/2022 3.125% 08/31/2029
91282CFJ5 2,120,000.00 AA+ Aaa 2/27/2023 2/28/2023 2,000,998.44 4.12 5,673.34 2,074,536.602,030,097.73

US TREASURY N/B
DTD 11/30/2022 3.875% 11/30/2029
91282CFY2 1,070,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,069,289.45 3.89 13,934.12 1,083,249.811,069,475.91

US TREASURY N/B
DTD 01/03/2023 3.875% 12/31/2029
91282CGB1 2,030,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,059,339.84 3.64 19,879.38 2,055,058.322,052,091.31

US TREASURY N/B
DTD 02/18/2020 1.500% 02/15/2030
912828Z94 542,500.00 AA+ Aaa 4/6/2022 4/11/2022 498,040.43 2.66 1,039.30 486,787.96512,059.07

US TREASURY N/B
DTD 02/28/2023 4.000% 02/28/2030
91282CGQ8 2,010,000.00 AA+ Aaa 2/27/2023 2/28/2023 2,000,892.19 4.08 6,885.08 2,047,060.382,002,961.66

US TREASURY N/B
DTD 05/01/2023 3.500% 04/30/2030
91282CGZ8 3,880,000.00 AA+ Aaa 4/25/2024 4/26/2024 3,632,498.44 4.73 56,829.35 3,855,750.003,647,994.04

US TREASURY N/B
DTD 02/15/2000 6.250% 05/15/2030
912810FM5 2,160,000.00 AA+ Aaa 1/11/2023 1/12/2023 2,519,859.38 3.64 50,991.85 2,447,802.722,435,534.12

US TREASURY N/B
DTD 02/15/2000 6.250% 05/15/2030
912810FM5 925,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,065,123.05 3.89 21,836.79 1,048,248.851,030,594.01

US TREASURY N/B
DTD 05/15/2020 0.625% 05/15/2030
912828ZQ6 2,535,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,057,608.01 3.56 5,984.46 2,150,889.202,169,610.83

US TREASURY N/B
DTD 05/31/2023 3.750% 05/31/2030
91282CHF1 2,830,000.00 AA+ Aaa 7/12/2023 7/12/2023 2,783,459.77 4.03 35,664.96 2,846,580.972,791,731.53

US TREASURY N/B
DTD 08/17/2020 0.625% 08/15/2030
91282CAE1 2,540,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,995,586.72 3.97 2,027.51 2,138,956.862,111,661.62

US TREASURY N/B
DTD 08/17/2020 0.625% 08/15/2030
91282CAE1 587,500.00 AA+ Aaa 4/6/2022 4/11/2022 498,755.37 2.65 468.96 494,739.04525,075.96 26 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

US TREASURY N/B
DTD 08/17/2020 0.625% 08/15/2030
91282CAE1 2,545,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,052,204.49 3.56 2,031.50 2,143,167.412,163,985.37

US TREASURY N/B
DTD 11/16/2020 0.875% 11/15/2030
91282CAV3 3,000,000.00 AA+ Aaa 7/11/2023 7/12/2023 2,405,390.63 4.02 9,915.08 2,551,173.002,504,455.25

US TREASURY N/B
DTD 11/16/2020 0.875% 11/15/2030
91282CAV3 1,330,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,071,065.63 3.72 4,395.69 1,131,020.031,130,833.42

US TREASURY N/B
DTD 02/15/2001 5.375% 02/15/2031
912810FP8 1,820,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,991,620.31 3.98 12,493.95 2,003,563.381,957,343.44

US TREASURY N/B
DTD 02/16/2021 1.125% 02/15/2031
91282CBL4 565,000.00 AA+ Aaa 4/6/2022 4/11/2022 498,104.88 2.63 811.80 485,436.70516,815.64

US TREASURY N/B
DTD 02/15/2001 5.375% 02/15/2031
912810FP8 1,800,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,021,273.44 3.61 12,356.66 1,981,546.201,974,205.13

US TREASURY N/B
DTD 02/15/2001 5.375% 02/15/2031
912810FP8 2,955,000.00 AA+ Aaa 7/7/2023 7/10/2023 3,201,326.95 4.09 20,285.51 3,253,038.353,161,499.51

US TREASURY N/B
DTD 04/01/2024 4.125% 03/31/2031
91282CKF7 3,820,000.00 AA+ Aaa 4/25/2024 4/26/2024 3,686,150.78 4.72 432.90 3,920,870.923,693,276.34

US TREASURY N/B
DTD 05/17/2021 1.625% 05/15/2031
91282CCB5 2,930,000.00 AA+ Aaa 1/11/2023 1/12/2023 2,530,673.05 3.53 17,984.07 2,580,574.062,613,030.13

US TREASURY N/B
DTD 05/17/2021 1.625% 05/15/2031
91282CCB5 1,265,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,070,802.73 3.76 7,764.45 1,114,138.631,113,000.39

US TREASURY N/B
DTD 07/31/2024 4.125% 07/31/2031
91282CLD1 730,000.00 AA+ Aaa 8/14/2024 8/15/2024 748,164.45 3.72 5,073.30 749,847.24747,870.44

US TREASURY N/B
DTD 08/16/2021 1.250% 08/15/2031
91282CCS8 2,465,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,994,627.93 3.92 3,935.29 2,103,049.262,083,070.06

US TREASURY N/B
DTD 08/16/2021 1.250% 08/15/2031
91282CCS8 562,500.00 AA+ Aaa 4/6/2022 4/11/2022 498,515.62 2.63 898.01 479,904.75515,463.14

US TREASURY N/B
DTD 11/15/2021 1.375% 11/15/2031
91282CDJ7 1,305,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,068,927.54 3.77 6,777.67 1,116,641.521,117,339.71

US TREASURY N/B
DTD 11/15/2021 1.375% 11/15/2031
91282CDJ7 2,080,000.00 AA+ Aaa 1/10/2023 1/11/2023 1,739,075.00 3.55 10,802.72 1,779,781.121,805,465.66

US TREASURY N/B
DTD 02/15/2022 1.875% 02/15/2032
91282CDY4 2,365,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,999,625.98 3.94 5,663.47 2,086,743.562,064,464.80

US TREASURY N/B
DTD 05/16/2022 2.875% 05/15/2032
91282CEP2 660,000.00 AA+ Aaa 8/5/2022 8/9/2022 662,629.69 2.83 7,167.19 623,338.98662,051.70 27 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

US TREASURY N/B
DTD 05/16/2022 2.875% 05/15/2032
91282CEP2 2,175,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,056,224.61 3.57 23,619.14 2,054,185.282,078,120.78

US TREASURY N/B
DTD 05/16/2022 2.875% 05/15/2032
91282CEP2 2,670,000.00 AA+ Aaa 1/11/2023 1/12/2023 2,525,548.83 3.56 28,994.53 2,521,689.512,552,143.77

US TREASURY N/B
DTD 05/16/2022 2.875% 05/15/2032
91282CEP2 1,150,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,067,164.06 3.79 12,488.28 1,086,120.951,083,256.39

US TREASURY N/B
DTD 05/16/2022 2.875% 05/15/2032
91282CEP2 1,100,000.00 AA+ Aaa 7/2/2024 7/3/2024 988,410.16 4.41 11,945.31 1,038,898.30991,336.84

US TREASURY N/B
DTD 08/15/2022 2.750% 08/15/2032
91282CFF3 2,195,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,991,190.82 3.93 7,709.34 2,048,896.412,025,453.88

US TREASURY N/B
DTD 11/15/2022 4.125% 11/15/2032
91282CFV8 3,225,000.00 AA+ Aaa 7/7/2023 7/10/2023 3,242,006.84 4.06 50,248.22 3,314,316.373,239,771.46

US TREASURY N/B
DTD 11/15/2022 4.125% 11/15/2032
91282CFV8 1,055,000.00 AA+ Aaa 11/30/2022 11/30/2022 1,084,877.93 3.78 16,437.79 1,084,218.221,079,367.18

US TREASURY N/B
DTD 11/15/2022 4.125% 11/15/2032
91282CFV8 1,965,000.00 AA+ Aaa 1/10/2023 1/11/2023 2,054,269.34 3.57 30,616.36 2,019,420.672,038,654.65

US TREASURY N/B
DTD 02/15/2023 3.500% 02/15/2033
91282CGM7 2,065,000.00 AA+ Aaa 2/27/2023 2/28/2023 1,993,450.98 3.92 9,230.77 2,027,169.202,004,871.30

US TREASURY N/B
DTD 05/15/2023 3.375% 05/15/2033
91282CHC8 1,075,000.00 AA+ Aaa 7/2/2024 7/3/2024 992,191.41 4.43 13,704.06 1,044,219.53994,072.35

US TREASURY N/B
DTD 08/15/2023 3.875% 08/15/2033
91282CHT1 2,385,000.00 AA+ Aaa 10/2/2023 10/2/2023 2,236,496.48 4.67 11,803.48 2,401,861.952,251,532.20

US TREASURY N/B
DTD 02/15/2024 4.000% 02/15/2034
91282CJZ5 3,880,000.00 AA+ Aaa 4/25/2024 4/26/2024 3,667,357.81 4.70 19,821.74 3,942,444.723,674,848.18

US TREASURY N/B
DTD 05/15/2024 4.375% 05/15/2034
91282CKQ3 1,000,000.00 AA+ Aaa 7/2/2024 7/3/2024 995,156.25 4.44 16,525.14 1,046,094.00995,256.99

US TREASURY N/B
DTD 08/15/2024 3.875% 08/15/2034
91282CLF6 8,450,000.00 AA+ Aaa 9/4/2024 9/5/2024 8,514,365.23 3.78 41,819.46 8,500,176.108,514,031.66 253,117,500.00 241,992,619.24 1,157,492.13 244,792,440.90Security Type Sub-Total 3.09 245,804,273.26 28 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

COOPERAT RABOBANK UA/NY
DTD 07/20/2023 5.080% 07/17/2026
21684LGS5 4,200,000.00 A+ Aa2 7/17/2023 7/20/2023 4,200,000.00 5.08 43,857.33 4,311,770.404,200,000.00 4,200,000.00 4,200,000.00 43,857.33 4,311,770.40Security Type Sub-Total 5.08 4,200,000.00 Municipal

CA ST UNIV-E
DTD 09/17/2020 0.685% 11/01/2024
13077DNC2 625,000.00 AA- Aa2 8/27/2020 9/17/2020 625,000.00 0.68 1,783.85 622,786.25625,000.00

CALIFORNIA ST DEPT OF
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 76,957.0477,500.00

UNIV OF CALIFORNIA-BG
(CALLABLE)
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 1,000.73 293,700.90300,000.00

UNIV OF CALIFORNIA-BG
(CALLABLE)
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 1,534.46 450,341.38460,214.49

FLORIDA ST BRD OF ADM
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 1,024,927.051,051,161.94

FLORIDA ST BRD OF ADM
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 2,594.63 805,299.83825,000.00

NJ TPK AUTH -B-TXBL
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 1,459.26 537,126.16557,500.00 3,895,000.00 3,904,088.70 11,819.85 3,811,138.61Security Type Sub-Total 1.00 3,896,376.43 Federal Agency

FANNIE MAE
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 12,500.00 AA+ Aaa 10/2/2020 10/5/2020 12,553.38 0.41 18.06 12,179.5412,508.08

FREDDIE MAC
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 3,422,385.543,542,911.01

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 2,188,153.082,264,207.25 29 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

FANNIE MAE
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 1,881,282.821,954,835.00

FANNIE MAE
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 5,956,593.676,189,751.14

FEDERAL HOME LOAN BANK
DTD 08/25/2022 3.375% 09/10/2032
3130AT4C8 875,000.00 AA+ Aaa 11/1/2022 11/3/2022 779,616.25 4.77 1,722.66 837,493.13798,117.52 14,842,500.00 14,730,678.33 18,392.83 14,298,087.78Security Type Sub-Total 0.75 14,762,330.00 Corporate

JOHN DEERE CAPITAL CORP
DTD 01/10/2022 1.250% 01/10/2025
24422EVY2 212,500.00 A A1 3/8/2022 3/10/2022 207,142.87 2.17 597.66 210,416.65211,980.04

TOYOTA MOTOR CREDIT CORP
DTD 02/13/2020 1.800% 02/13/2025
89236TGT6 7,500.00 A+ A1 5/21/2020 5/26/2020 7,602.00 1.50 18.00 7,419.807,507.93 AMAZON.COM INC
DTD 04/13/2022 3.000% 04/13/2025
023135CE4 7,500.00 AA A1 4/11/2022 4/13/2022 7,488.07 3.06 105.00 7,439.407,497.88

GOLDMAN SACHS GROUP INC
(CALLABLE)
DTD 05/22/2015 3.750% 05/22/2025
38148LAE6 837,500.00 BBB+ A2 2/12/2021 2/17/2021 935,638.25 0.94 11,253.91 832,248.88847,076.12

STATE STREET CORP (CALLABLE)
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 1,167.03 432,348.00437,500.00

STATE STREET CORP (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 3,710,805.003,704,344.43

BANK OF AMERICA CORP
(CALLABLE)
DTD 03/22/2022 3.384% 04/02/2026
06051GKM0 1,875,000.00 A- A1 3/17/2022 3/22/2022 1,875,000.00 3.38 31,548.75 1,859,968.131,875,000.00

PACCAR FINANCIAL CORP
DTD 08/10/2023 5.050% 08/10/2026
69371RS56 3,800,000.00 A+ A1 8/10/2023 8/14/2023 3,815,846.00 4.90 27,185.83 3,878,112.803,809,852.20

BANK OF AMERICA NA (CALLABLE)
DTD 08/18/2023 5.526% 08/18/2026
06428CAA2 1,885,000.00 A+ Aa1 8/14/2023 8/18/2023 1,885,000.00 5.53 12,441.94 1,935,295.571,885,000.00

JP MORGAN CHASE BANK NA
(CALLABLE)
DTD 12/08/2023 5.110% 12/08/2026
48125LRU8 3,150,000.00 A+ Aa2 12/5/2023 12/8/2023 3,150,000.00 5.11 50,525.13 3,220,515.903,150,000.00 30 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

TARGET CORP (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 2,055,294.522,139,397.06

MICROSOFT CORP (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
594918BY9 2,325,000.00 AAA Aaa 1/27/2023 1/31/2023 2,259,644.25 4.07 11,721.88 2,303,145.002,286,781.58

TRUIST FINANCIAL CORP
(CALLABLE)
DTD 08/03/2020 1.125% 08/03/2027
89788MAC6 2,520,000.00 A- Baa1 8/5/2022 8/9/2022 2,213,719.20 3.83 4,567.50 2,314,998.002,345,518.96

HOME DEPOT INC (CALLABLE)
DTD 09/14/2017 2.800% 09/14/2027
437076BT8 3,450,000.00 A A2 1/25/2023 1/27/2023 3,255,385.50 4.15 4,561.67 3,351,547.353,325,899.69

JPMORGAN CHASE & CO
(CALLABLE)
DTD 02/24/2022 2.947% 02/24/2028
46647PCW4 1,605,000.00 A- A1 9/14/2023 9/18/2023 1,467,563.85 5.13 4,861.32 1,556,135.781,499,683.95

JPMORGAN CHASE & CO
(CALLABLE)
DTD 04/25/2017 3.540% 05/01/2028
46647PAF3 1,725,000.00 A- A1 8/8/2024 8/9/2024 1,672,059.75 4.44 25,443.75 1,693,437.681,673,948.88

HERSHEY COMPANY (CALLABLE)
DTD 05/04/2023 4.250% 05/04/2028
427866BH0 2,785,000.00 A A1 5/9/2023 5/11/2023 2,801,821.40 4.11 48,331.35 2,820,937.642,797,050.72

APPLE INC (CALLABLE)
DTD 05/10/2023 4.000% 05/10/2028
037833ET3 1,370,000.00 AA+ Aaa 5/12/2023 5/16/2023 1,380,946.30 3.82 21,463.33 1,384,426.101,377,874.63

APPLE INC (CALLABLE)
DTD 05/10/2023 4.000% 05/10/2028
037833ET3 4,675,000.00 AA+ Aaa 5/9/2023 5/11/2023 4,673,083.25 4.01 73,241.67 4,724,227.754,673,615.98

MORGAN STANLEY BANK NA
(CALLABLE)
DTD 05/30/2024 5.504% 05/26/2028
61690U8B9 1,430,000.00 A+ Aa3 5/28/2024 5/30/2024 1,430,000.00 5.50 26,454.36 1,474,674.631,430,000.00

MORGAN STANLEY BANK NA
(CALLABLE)
DTD 05/30/2024 5.504% 05/26/2028
61690U8B9 2,770,000.00 A+ Aa3 5/30/2024 5/31/2024 2,775,844.70 5.45 51,243.77 2,856,537.572,774,870.51

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 1,420,000.00 A A1 7/11/2023 7/14/2023 1,417,884.20 4.98 15,034.25 1,466,361.581,418,397.87

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 600,000.00 A A1 7/13/2023 7/14/2023 608,160.00 4.64 6,352.50 619,589.40606,178.93

TOYOTA MOTOR CREDIT CORP
DTD 09/11/2023 5.250% 09/11/2028
89236TLB9 1,400,000.00 A+ A1 9/6/2023 9/11/2023 1,397,564.00 5.29 4,083.33 1,457,860.601,398,029.96

CITIBANK NA (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
17325FBB3 4,935,000.00 A+ Aa3 9/26/2023 9/29/2023 4,935,000.00 5.80 1,590.99 5,220,894.424,935,000.00 31 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

CITIBANK NA (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
17325FBB3 1,300,000.00 A+ Aa3 5/1/2024 5/3/2024 1,325,142.00 5.30 419.11 1,375,311.601,322,996.59

BLACKROCK FUNDING INC
(CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 4,200,000.00 AA- Aa3 4/9/2024 4/11/2024 4,181,646.00 4.80 9,321.67 4,317,537.004,183,225.82

BLACKROCK FUNDING INC
(CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 405,000.00 AA- Aa3 3/5/2024 3/14/2024 404,266.95 4.74 898.88 416,333.93404,340.51

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 1,775,000.00 A+ A1 4/1/2024 4/4/2024 1,772,355.25 4.83 41,890.00 1,832,430.131,772,588.49

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 1,450,000.00 A+ A1 4/2/2024 4/4/2024 1,447,578.50 4.84 34,220.00 1,496,914.751,447,792.00

MASTERCARD INC (CALLABLE)
DTD 05/31/2019 2.950% 06/01/2029
57636QAM6 3,600,000.00 A+ Aa3 6/26/2024 6/27/2024 3,307,140.00 4.82 35,400.00 3,447,414.003,321,033.93

PEPSICO INC (CALLABLE)
DTD 07/17/2024 4.500% 07/17/2029
713448FX1 2,160,000.00 A+ A1 7/15/2024 7/17/2024 2,156,652.00 4.53 19,980.00 2,221,955.282,156,785.01

TOYOTA MOTOR CREDIT CORP
DTD 08/09/2024 4.550% 08/09/2029
89236TMK8 370,000.00 A+ A1 8/6/2024 8/9/2024 369,248.90 4.60 2,431.72 375,954.41369,268.54

TOYOTA MOTOR CREDIT CORP
DTD 08/09/2024 4.550% 08/09/2029
89236TMK8 805,000.00 A+ A1 8/7/2024 8/9/2024 804,074.25 4.58 5,290.64 817,954.87804,101.56

TOYOTA MOTOR CREDIT CORP
DTD 08/09/2024 4.550% 08/09/2029
89236TMK8 925,000.00 A+ A1 8/8/2024 8/9/2024 921,198.25 4.64 6,079.31 939,886.03921,299.33

ELI LILLY & CO (CALLABLE)
DTD 08/14/2024 4.200% 08/14/2029
532457CQ9 750,000.00 A+ A1 8/12/2024 8/14/2024 748,357.50 4.25 4,112.50 756,760.50748,399.03

ELI LILLY & CO (CALLABLE)
DTD 08/14/2024 4.200% 08/14/2029
532457CQ9 2,600,000.00 A+ A1 8/13/2024 8/14/2024 2,604,420.00 4.16 14,256.67 2,623,436.402,604,314.58 71,452,500.00 70,429,705.29 617,207.28 72,016,527.05Security Type Sub-Total 4.51 70,674,152.71 Agency CMBS
FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
3137BTUM1 2,810,615.81 AA+ Aaa 5/19/2023 5/24/2023 2,724,101.53 4.29 7,839.28 2,767,992.822,757,513.46 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
3137BXQY1 4,477,651.00 AA+ Aaa 8/16/2023 8/18/2023 4,223,684.23 4.94 12,029.96 4,402,645.874,302,596.03 32 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
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
Agency CMBS
FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 2,540,000.00 AA+ Aaa 8/16/2023 8/18/2023 2,394,842.97 4.93 6,864.35 2,493,378.302,438,926.07 FHMS K066 A2
DTD 08/01/2017 3.117% 06/01/2027
3137F2LJ3 3,941,658.00 AA+ Aaa 8/17/2023 8/22/2023 3,686,066.11 4.97 10,238.46 3,855,513.063,759,805.20 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
3137HAMR4 3,936,959.11 AA+ Aaa 9/20/2023 9/28/2023 3,875,176.42 5.19 15,747.84 4,015,670.743,886,711.42 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
3137HAMG8 2,079,260.81 AA+ Aaa 9/7/2023 9/14/2023 2,048,165.47 5.01 8,057.14 2,119,064.102,054,456.54 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 3,392,395.91 AA+ Aaa 7/19/2023 7/27/2023 3,392,311.08 4.78 13,504.56 3,445,615.823,392,331.43 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 4,200,000.00 AA+ Aaa 7/13/2023 7/20/2023 4,241,949.60 4.59 16,866.50 4,308,213.004,231,763.52 FNA 2023-M6 A2
DTD 07/01/2023 4.181% 07/01/2028
3136BQDE6 4,061,119.26 AA+ Aaa 7/18/2023 7/31/2023 3,992,270.60 4.58 14,149.62 4,075,901.734,008,389.01 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 4,200,000.00 AA+ Aaa 9/7/2023 9/14/2023 4,137,869.40 4.99 16,275.00 4,287,204.604,149,736.12 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 4,300,000.00 AA+ Aaa 10/11/2023 10/19/2023 4,205,675.20 5.25 16,985.00 4,408,080.504,222,259.74 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 2,339,941.68 AA+ Aaa 9/19/2023 9/28/2023 2,339,929.98 5.27 10,280.14 2,409,201.622,339,933.42 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 4,200,000.00 AA+ Aaa 9/20/2023 9/28/2023 4,149,797.40 5.07 16,800.00 4,308,049.204,158,297.18 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 3,305,000.00 AA+ Aaa 10/25/2023 10/31/2023 3,199,626.69 5.60 13,357.71 3,398,290.243,215,830.45 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 1,675,000.00 AA+ Aaa 11/14/2023 11/21/2023 1,670,157.58 5.14 7,075.48 1,735,313.401,670,917.08 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 2,440,000.00 AA+ Aaa 11/28/2023 12/7/2023 2,432,989.88 4.93 9,882.00 2,510,211.002,434,045.36 FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
3137HBCF9 2,215,000.00 AA+ Aaa 12/11/2023 12/21/2023 2,235,683.67 4.79 9,229.17 2,290,445.122,232,747.75 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
3137HBLV4 2,495,000.00 AA+ Aaa 2/1/2024 2/8/2024 2,519,947.51 4.34 9,505.95 2,541,910.992,516,952.33 FHMS K513 A2
DTD 01/01/2024 4.724% 12/01/2028
3137HBFY5 2,505,000.00 AA+ Aaa 1/10/2024 1/18/2024 2,530,022.45 4.50 9,861.35 2,567,021.302,526,805.08 33 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
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
Agency CMBS
FHMS K518 A2
DTD 03/01/2024 5.400% 01/01/2029
3137HC2L5 3,040,000.00 AA+ Aaa 3/19/2024 3/28/2024 3,113,400.80 4.83 13,680.00 3,196,961.283,107,508.38 FHMS K515 A2
DTD 02/01/2024 5.400% 01/01/2029
3137HBPD0 4,200,000.00 AA+ Aaa 2/14/2024 2/22/2024 4,313,148.00 4.79 18,900.00 4,411,911.004,300,624.31 FHMS K516 A2
DTD 03/01/2024 5.477% 01/01/2029
3137HBPM0 4,200,000.00 AA+ Aaa 2/29/2024 3/7/2024 4,325,987.40 4.79 19,169.50 4,420,046.404,312,891.49 FHMS K517 A2
DTD 03/01/2024 5.355% 01/01/2029
3137HC2C5 3,760,000.00 AA+ Aaa 3/5/2024 3/14/2024 3,872,747.36 4.67 16,779.00 3,942,284.803,861,357.14 FHMS K520 A2
DTD 04/01/2024 5.180% 03/01/2029
3137HCKV3 2,380,000.00 AA+ Aaa 4/23/2024 4/30/2024 2,389,660.42 5.09 10,273.67 2,483,984.582,389,067.66 FHMS K522 A2
DTD 06/01/2024 4.803% 05/01/2029
3137HDJJ0 4,400,000.00 AA+ Aaa 6/5/2024 6/13/2024 4,399,986.80 4.80 17,611.00 4,530,015.604,400,000.00 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
3137HDV56 3,730,000.00 AA+ Aaa 7/16/2024 7/25/2024 3,752,905.93 4.58 14,671.33 3,830,325.813,752,484.41 86,824,601.59 86,168,104.48 335,634.01 88,755,252.88Security Type Sub-Total 4.87 86,423,950.58 ABS
TAOT 2021-C A3
DTD 09/27/2021 0.430% 01/15/2026
89239BAC5 183,844.84 AAA Aaa 9/21/2021 9/27/2021 183,830.18 0.43 35.13 182,262.30183,840.45 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 54,962.06 AAA NR 4/13/2021 4/21/2021 54,950.21 0.52 12.70 54,755.9554,958.67 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 116,406.81 AAA NR 11/9/2021 11/17/2021 116,380.82 0.75 38.28 115,333.42116,397.43 HAROT 2022-2 A3
DTD 08/24/2022 3.730% 07/20/2026
43815PAC3 216,455.87 AAA NR 8/15/2022 8/24/2022 216,442.96 3.73 291.55 215,292.42216,449.91 CCCIT 2023-A1 A1
DTD 12/11/2023 5.230% 12/08/2027
17305EGW9 930,000.00 AAA Aaa 12/4/2023 12/11/2023 929,883.38 5.23 15,267.24 939,975.18929,905.64 KCOT 2023-2A A3
DTD 07/26/2023 5.280% 01/18/2028
500945AC4 1,085,000.00 NR Aaa 7/18/2023 7/26/2023 1,084,725.93 5.29 2,546.13 1,101,711.171,084,798.19 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
06428AAC2 1,775,000.00 NR Aaa 7/25/2023 7/31/2023 1,774,932.73 5.53 4,362.56 1,799,516.301,774,950.02 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
43815QAC1 2,640,000.00 AAA NR 8/15/2023 8/22/2023 2,639,455.63 5.42 5,157.53 2,677,965.842,639,590.04 34 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
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
TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
89231FAD2 825,000.00 AAA NR 8/8/2023 8/15/2023 824,813.39 5.17 1,892.00 835,063.35824,858.43 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
90291VAC4 3,375,000.00 AAA Aaa 9/7/2023 9/15/2023 3,374,409.38 5.58 8,370.00 3,418,335.003,374,536.12 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
06054YAC1 3,075,000.00 NR Aaa 11/15/2023 11/21/2023 3,074,944.34 5.76 7,844.67 3,137,939.103,072,512.24 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 2,880,000.00 AAA Aaa 8/15/2023 8/23/2023 2,879,821.44 5.53 7,078.40 2,920,826.882,879,861.10 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
89239FAD4 805,000.00 AAA NR 11/7/2023 11/14/2023 804,913.22 5.54 1,982.09 823,762.13804,930.01 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
161571HT4 3,380,000.00 AAA NR 9/7/2023 9/15/2023 3,379,063.06 5.17 7,751.47 3,452,997.863,379,239.67 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02582JKD1 3,460,000.00 AAA NR 9/12/2023 9/19/2023 3,459,845.34 5.24 8,042.58 3,539,209.783,458,248.34 HART 2023-C A3
DTD 11/13/2023 5.540% 10/16/2028
44918CAD4 1,190,000.00 AAA NR 11/3/2023 11/13/2023 1,189,843.52 5.54 2,930.04 1,216,172.861,189,871.00 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 1,520,000.00 NR Aaa 12/7/2023 12/14/2023 1,519,795.86 4.98 3,364.27 1,550,418.241,519,830.39 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
36268GAD7 410,000.00 NR Aaa 1/9/2024 1/17/2024 409,917.55 4.85 828.54 415,174.20409,928.26 CHAIT 2024-A1 A
DTD 01/31/2024 4.600% 01/16/2029
161571HV9 3,825,000.00 AAA NR 1/24/2024 1/31/2024 3,824,417.45 4.60 7,820.00 3,873,210.303,824,494.42 31,746,669.57 31,742,386.39 85,615.18 32,269,922.28Security Type Sub-Total 5.24 31,739,200.33 466,078,771.16 453,167,582.43 2,270,018.61 460,255,139.90Managed Account Sub Total Securities Sub Total
Accrued Interest
$466,078,771.16 $453,167,582.43 $2,270,018.61 $460,255,139.90 $2,270,018.61
457,500,283.31
$457,500,283.31

3.73 3.73%
Total Investments $462,525,158.51
35 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
Portfolio Activity
|
Quarterly Portfolio Transactions
Trade
Date
Se ttle
Date Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
BUY
7/2/2024 7/3/2024 1,100,000.00 91282CEP2 US TREASURY N/B 2.87% 5/15/2032 992,621.10 4.41% 7/2/2024 7/3/2024 1,000,000.00 91282CKQ3 US TREASURY N/B 4.37% 5/15/2034 1,000,981.66 4.44% 7/2/2024 7/3/2024 1,075,000.00 91282CHC8 US TREASURY N/B 3.37% 5/15/2033 997,022.34 4.43% 7/15/2024 7/17/2024 2,160,000.00 713448FX1 PEPSICO INC (CALLABLE) 4.50% 7/17/2029 2,156,652.00 4.53% 7/16/2024 7/25/2024 3,730,000.00 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 3,764,643.00 4.58% 7/17/2024 7/17/2024 3,875,000.00 912797JT5 WI TREASURY SEC. BILLS 0.00% 7/25/2024 3,870,522.22 5.21% 8/1/2024 8/2/2024 7,325,000.00 91282CLC3 US TREASURY N/B 4.00% 7/31/2029 7,377,524.03 3.85% 8/6/2024 8/9/2024 370,000.00 89236TMK8 TOYOTA MOTOR CREDIT CORP 4.55% 8/9/2029 369,248.90 4.59% 8/7/2024 8/9/2024 805,000.00 89236TMK8 TOYOTA MOTOR CREDIT CORP 4.55% 8/9/2029 804,074.25 4.57% 8/8/2024 8/9/2024 1,725,000.00 46647PAF3 JPMORGAN CHASE & CO (CALLABLE) 3.54% 5/1/2028 1,688,683.00 4.44% 8/8/2024 8/9/2024 925,000.00 89236TMK8 TOYOTA MOTOR CREDIT CORP 4.55% 8/9/2029 921,198.25 4.64% 8/12/2024 8/14/2024 750,000.00 532457CQ9 ELI LILLY & CO (CALLABLE) 4.20% 8/14/2029 748,357.50 4.25% 8/13/2024 8/14/2024 2,600,000.00 532457CQ9 ELI LILLY & CO (CALLABLE) 4.20% 8/14/2029 2,604,420.00 4.16% 8/14/2024 8/15/2024 730,000.00 91282CLD1 US TREASURY N/B 4.12% 7/31/2031 749,391.86 3.72% 9/4/2024 9/5/2024 8,450,000.00 91282CLF6 US TREASURY N/B 3.87% 8/15/2034 8,533,050.52 3.78% Total BUY 36,620,000.00 36,578,390.63 0.00
36 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

INTEREST
7/1/2024 7/1/2024 MONEY0002 MONEY MARKET FUND 0.00% 1,352.57 7/1/2024 7/1/2024 557,500.00 646140DP5 NJ TPK AUTH -B-TXBL 1.04% 1/1/2026 2,918.51 7/1/2024 7/1/2024 1,875,000.00 341271AD6 FLORIDA ST BRD OF ADM 1.25% 7/1/2025 11,793.75 7/1/2024 7/25/2024 3,760,000.00 3137HC2C5 FHMS K517 A2 5.35% 1/1/2029 16,779.00 7/1/2024 7/25/2024 3,040,000.00 3137HC2L5 FHMS K518 A2 5.40% 1/1/2029 13,680.00 7/1/2024 7/25/2024 3,941,658.00 3137F2LJ3 FHMS K066 A2 3.11% 6/1/2027 10,238.46 7/1/2024 7/25/2024 4,200,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 16,800.00 7/1/2024 7/25/2024 4,400,000.00 3137HDJJ0 FHMS K522 A2 4.80% 5/1/2029 17,611.00 7/1/2024 7/25/2024 4,200,000.00 3137HBPM0 FHMS K516 A2 5.47% 1/1/2029 19,169.50 7/1/2024 7/25/2024 4,200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.50 7/1/2024 7/25/2024 1,675,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 7,075.48 7/1/2024 7/25/2024 2,495,000.00 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 9,505.95 7/1/2024 7/25/2024 2,352,355.02 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 10,334.68 7/1/2024 7/25/2024 3,973,581.39 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 15,894.33 7/1/2024 7/25/2024 3,305,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 13,357.71 7/1/2024 7/25/2024 4,477,651.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 12,029.96 7/1/2024 7/25/2024 4,200,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 16,275.00 37 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

INTEREST
7/1/2024 7/25/2024 4,300,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 16,985.00 7/1/2024 7/25/2024 2,380,000.00 3137HCKV3 FHMS K520 A2 5.18% 3/1/2029 10,273.67 7/1/2024 7/25/2024 2,215,000.00 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 9,229.17 7/1/2024 7/25/2024 2,440,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 9,882.00 7/1/2024 7/25/2024 3,398,940.59 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,530.62 7/1/2024 7/25/2024 2,505,000.00 3137HBFY5 FHMS K513 A2 4.72% 12/1/2028 9,861.35 7/1/2024 7/25/2024 2,540,000.00 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 6,864.35 7/1/2024 7/25/2024 4,200,000.00 3137HBPD0 FHMS K515 A2 5.40% 1/1/2029 18,900.00 7/1/2024 7/25/2024 4,250,000.00 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 14,839.58 7/1/2024 7/25/2024 2,827,273.25 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,885.74 7/1/2024 7/25/2024 2,084,432.76 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 8,077.18 7/10/2024 7/10/2024 212,500.00 24422EVY2 JOHN DEERE CAPITAL CORP 1.25% 1/10/2025 1,328.13 7/14/2024 7/14/2024 2,020,000.00 24422EXB0 JOHN DEERE CAPITAL CORP 4.95% 7/14/2028 49,995.00 7/15/2024 7/15/2024 3,375,000.00 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 15,693.75 7/15/2024 7/15/2024 1,520,000.00 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 6,308.00 7/15/2024 7/15/2024 2,880,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 13,272.00 7/15/2024 7/15/2024 3,825,000.00 161571HV9 CHAIT 2024-A1 A 4.60% 1/16/2029 14,662.50 38 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

INTEREST
7/15/2024 7/15/2024 145,824.92 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 63.19 7/15/2024 7/15/2024 805,000.00 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 3,716.42 7/15/2024 7/15/2024 3,075,000.00 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 14,708.75 7/15/2024 7/15/2024 187,115.11 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 115.39 7/15/2024 7/15/2024 825,000.00 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 3,547.50 7/15/2024 7/15/2024 1,190,000.00 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 5,493.83 7/15/2024 7/15/2024 3,380,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 14,534.00 7/15/2024 7/15/2024 33,166.67 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 9.40 7/15/2024 7/15/2024 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.46 7/15/2024 7/15/2024 18,418.35 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 5.83 7/15/2024 7/15/2024 308,457.70 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 110.53 7/15/2024 7/15/2024 1,085,000.00 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 4,774.00 7/15/2024 7/15/2024 3,460,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 15,079.83 7/15/2024 7/15/2024 2,140,000.00 87612EBM7 TARGET CORP (CALLABLE) 1.95% 1/15/2027 20,865.00 7/15/2024 7/15/2024 1,775,000.00 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 8,179.79 7/16/2024 7/16/2024 410,000.00 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 1,657.08 7/17/2024 7/17/2024 4,200,000.00 21684LGS5 COOPERAT RABOBANK UA/NY 5.08% 7/17/2026 106,680.00 39 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

INTEREST
7/18/2024 7/18/2024 276,456.35 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 859.32 7/18/2024 7/18/2024 2,640,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 11,902.00 7/21/2024 7/21/2024 2,310,000.00 3137EAEU9 FREDDIE MAC 0.37% 7/21/2025 4,331.25 7/31/2024 7/31/2024 5,000,000.00 91282CFB2 US TREASURY N/B 2.75% 7/31/2027 68,750.00 7/31/2024 7/31/2024 1,707,500.00 9128286A3 US TREASURY N/B 2.62% 1/31/2026 22,410.94 7/31/2024 7/31/2024 5,040,000.00 91282CBJ9 US TREASURY N/B 0.75% 1/31/2028 18,900.00 7/31/2024 7/31/2024 17,305,000.00 91282CBH3 US TREASURY N/B 0.37% 1/31/2026 32,446.88 8/1/2024 8/1/2024 MONEY0002 MONEY MARKET FUND 0.00% 1,795.86 8/1/2024 8/25/2024 2,821,514.25 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,869.67 8/1/2024 8/25/2024 2,380,000.00 3137HCKV3 FHMS K520 A2 5.18% 3/1/2029 10,273.67 8/1/2024 8/25/2024 2,348,802.05 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 10,319.07 8/1/2024 8/25/2024 4,200,000.00 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.50 8/1/2024 8/25/2024 4,200,000.00 3137HBPD0 FHMS K515 A2 5.40% 1/1/2029 18,900.00 8/1/2024 8/25/2024 3,396,736.94 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,521.84 8/1/2024 8/25/2024 3,760,000.00 3137HC2C5 FHMS K517 A2 5.35% 1/1/2029 16,779.00 8/1/2024 8/25/2024 4,200,000.00 3137HBPM0 FHMS K516 A2 5.47% 1/1/2029 19,169.50 8/1/2024 8/25/2024 4,200,000.00 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 16,275.00 40 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

INTEREST
8/1/2024 8/25/2024 3,961,313.15 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 15,845.25 8/1/2024 8/25/2024 1,675,000.00 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 7,075.48 8/1/2024 8/25/2024 3,941,658.00 3137F2LJ3 FHMS K066 A2 3.11% 6/1/2027 10,238.46 8/1/2024 8/25/2024 2,215,000.00 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 9,229.17 8/1/2024 8/25/2024 2,082,554.72 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 8,069.90 8/1/2024 8/25/2024 2,505,000.00 3137HBFY5 FHMS K513 A2 4.72% 12/1/2028 9,861.35 8/1/2024 8/25/2024 3,040,000.00 3137HC2L5 FHMS K518 A2 5.40% 1/1/2029 13,680.00 8/1/2024 8/25/2024 4,477,651.00 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 12,029.96 8/1/2024 8/25/2024 4,250,000.00 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 14,839.58 8/1/2024 8/25/2024 4,200,000.00 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 16,800.00 8/1/2024 8/25/2024 2,540,000.00 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 6,864.35 8/1/2024 8/25/2024 3,305,000.00 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 13,357.71 8/1/2024 8/25/2024 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 14,671.33 8/1/2024 8/25/2024 4,400,000.00 3137HDJJ0 FHMS K522 A2 4.80% 5/1/2029 17,611.00 8/1/2024 8/25/2024 4,300,000.00 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 16,985.00 8/1/2024 8/25/2024 2,440,000.00 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 9,882.00 8/1/2024 8/25/2024 2,495,000.00 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 9,505.95 41 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

INTEREST
8/3/2024 8/3/2024 2,520,000.00 89788MAC6 TRUIST FINANCIAL CORP (CALLABLE) 1.12% 8/3/2027 14,175.00 8/5/2024 8/5/2024 2,165,000.00 458140BY5 INTEL CORP (CALLABLE) 3.75% 8/5/2027 40,593.75 8/6/2024 8/6/2024 2,325,000.00 594918BY9 MICROSOFT CORP (CALLABLE) 3.30% 2/6/2027 38,362.50 8/6/2024 8/6/2024 437,500.00 857477BR3 STATE STREET CORP (CALLABLE) 1.74% 2/6/2026 3,819.38 8/10/2024 8/10/2024 3,800,000.00 69371RS56 PACCAR FINANCIAL CORP 5.05% 8/10/2026 95,950.00 8/13/2024 8/13/2024 7,500.00 89236TGT6 TOYOTA MOTOR CREDIT CORP 1.80% 2/13/2025 67.50 8/15/2024 8/15/2024 2,880,000.00 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 13,272.00 8/15/2024 8/15/2024 115,108.70 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 49.88 8/15/2024 8/15/2024 20,220.80 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 5.73 8/15/2024 8/15/2024 3,825,000.00 161571HV9 CHAIT 2024-A1 A 4.60% 1/16/2029 14,662.50 8/15/2024 8/15/2024 2,730,000.00 9128282R0 US TREASURY N/B 2.25% 8/15/2027 30,712.50 8/15/2024 8/15/2024 1,775,000.00 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 8,179.79 8/15/2024 8/15/2024 1,775,000.00 912810FJ2 US TREASURY N/B 6.12% 8/15/2029 54,359.38 8/15/2024 8/15/2024 3,075,000.00 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 14,708.75 8/15/2024 8/15/2024 1,190,000.00 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 5,493.83 8/15/2024 8/15/2024 2,665,000.00 9128286B1 US TREASURY N/B 2.62% 2/15/2029 34,978.13 8/15/2024 8/15/2024 805,000.00 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 3,716.42 42 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

INTEREST
8/15/2024 8/15/2024 1,085,000.00 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 4,774.00 8/15/2024 8/15/2024 565,000.00 91282CBL4 US TREASURY N/B 1.12% 2/15/2031 3,178.13 8/15/2024 8/15/2024 520,000.00 912828YB0 US TREASURY N/B 1.62% 8/15/2029 4,225.00 8/15/2024 8/15/2024 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.46 8/15/2024 8/15/2024 6,575,000.00 912810FP8 US TREASURY N/B 5.37% 2/15/2031 176,703.13 8/15/2024 8/15/2024 3,375,000.00 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 15,693.75 8/15/2024 8/15/2024 3,380,000.00 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 14,534.00 8/15/2024 8/15/2024 542,500.00 912828Z94 US TREASURY N/B 1.50% 2/15/2030 4,068.75 8/15/2024 8/15/2024 825,000.00 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 3,547.50 8/15/2024 8/15/2024 2,385,000.00 91282CHT1 US TREASURY N/B 3.87% 8/15/2033 46,209.38 8/15/2024 8/15/2024 1,875,000.00 912810FG8 US TREASURY N/B 5.25% 2/15/2029 49,218.75 8/15/2024 8/15/2024 2,245,000.00 912828V98 US TREASURY N/B 2.25% 2/15/2027 25,256.25 8/15/2024 8/15/2024 5,672,500.00 91282CAE1 US TREASURY N/B 0.62% 8/15/2030 17,726.56 8/15/2024 8/15/2024 2,195,000.00 91282CFF3 US TREASURY N/B 2.75% 8/15/2032 30,181.25 8/15/2024 8/15/2024 2,065,000.00 91282CGM7 US TREASURY N/B 3.50% 2/15/2033 36,137.50 8/15/2024 8/15/2024 3,880,000.00 91282CJZ5 US TREASURY N/B 4.00% 2/15/2034 77,600.00 8/15/2024 8/15/2024 2,365,000.00 91282CDY4 US TREASURY N/B 1.87% 2/15/2032 22,171.88 43 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

INTEREST
8/15/2024 8/15/2024 3,460,000.00 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 15,079.83 8/15/2024 8/15/2024 3,027,500.00 91282CCS8 US TREASURY N/B 1.25% 8/15/2031 18,921.88 8/15/2024 8/15/2024 267,787.65 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 95.96 8/15/2024 8/15/2024 1,520,000.00 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 6,308.00 8/15/2024 8/15/2024 163,554.17 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 100.86 8/16/2024 8/16/2024 410,000.00 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 1,657.08 8/18/2024 8/18/2024 256,726.38 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 797.99 8/18/2024 8/18/2024 2,640,000.00 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 11,902.00 8/18/2024 8/18/2024 1,885,000.00 06428CAA2 BANK OF AMERICA NA (CALLABLE) 5.52% 8/18/2026 52,082.55 8/24/2024 8/24/2024 1,605,000.00 46647PCW4 JPMORGAN CHASE & CO (CALLABLE) 2.94% 2/24/2028 23,649.68 8/25/2024 8/25/2024 3,995,000.00 3135G05X7 FANNIE MAE 0.37% 8/25/2025 7,490.63 8/31/2024 8/31/2024 9128282U3 US TREASURY N/B 1.87% 8/31/2024 70.31 8/31/2024 8/31/2024 91282CBQ3 US TREASURY N/B 0.50% 2/28/2026 31,675.00 8/31/2024 8/31/2024 91282CGP0 US TREASURY N/B 4.00% 2/29/2028 96,500.00 8/31/2024 8/31/2024 91282CFJ5 US TREASURY N/B 3.12% 8/31/2029 33,125.00 8/31/2024 8/31/2024 912828ZC7 US TREASURY N/B 1.12% 2/28/2025 70.31 8/31/2024 8/31/2024 91282CFH9 US TREASURY N/B 3.12% 8/31/2027 78,593.75 44 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

INTEREST
8/31/2024 8/31/2024 91282CAJ0 US TREASURY N/B 0.25% 8/31/2025 11,025.00 8/31/2024 8/31/2024 91282CGQ8 US TREASURY N/B 4.00% 2/28/2030 40,200.00 9/1/2024 9/25/2024 3137HBPM0 FHMS K516 A2 5.47% 1/1/2029 19,169.50 9/1/2024 9/25/2024 3137HCKV3 FHMS K520 A2 5.18% 3/1/2029 10,273.67 9/1/2024 9/25/2024 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 12,029.96 9/1/2024 9/25/2024 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 16,275.00 9/1/2024 9/25/2024 3137HDJJ0 FHMS K522 A2 4.80% 5/1/2029 17,611.00 9/1/2024 9/25/2024 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 6,864.35 9/1/2024 9/25/2024 3137HBFY5 FHMS K513 A2 4.72% 12/1/2028 9,861.35 9/1/2024 9/25/2024 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 13,357.71 9/1/2024 9/25/2024 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,513.23 9/1/2024 9/25/2024 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 7,075.48 9/1/2024 9/25/2024 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 14,671.33 9/1/2024 9/25/2024 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 8,063.53 9/1/2024 9/25/2024 3137HBPD0 FHMS K515 A2 5.40% 1/1/2029 18,900.00 9/1/2024 9/25/2024 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 15,802.57 9/1/2024 9/25/2024 3137F2LJ3 FHMS K066 A2 3.11% 6/1/2027 10,238.46 45 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

INTEREST
9/1/2024 9/25/2024 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 10,299.66 9/1/2024 9/25/2024 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 9,505.95 9/1/2024 9/25/2024 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 14,839.58 9/1/2024 9/25/2024 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 16,800.00 9/1/2024 9/25/2024 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 16,985.00 9/1/2024 9/25/2024 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.50 9/1/2024 9/25/2024 3137HC2L5 FHMS K518 A2 5.40% 1/1/2029 13,680.00 9/1/2024 9/25/2024 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 9,882.00 9/1/2024 9/25/2024 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 9,229.17 9/1/2024 9/25/2024 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,854.50 9/1/2024 9/25/2024 3137HC2C5 FHMS K517 A2 5.35% 1/1/2029 16,779.00 9/3/2024 9/3/2024 MONEY0002 MONEY MARKET FUND 0.00% 1,634.93 9/10/2024 9/10/2024 3130AT4C8 FEDERAL HOME LOAN BANK 3.37% 9/10/2032 14,765.63 9/11/2024 9/11/2024 89236TLB9 TOYOTA MOTOR CREDIT CORP 5.25% 9/11/2028 36,750.00 9/14/2024 9/14/2024 437076BT8 HOME DEPOT INC (CALLABLE) 2.80% 9/14/2027 48,300.00 9/14/2024 9/14/2024 09290DAA9 BLACKROCK FUNDING INC (CALLABLE) 4.70% 3/14/2029 108,217.50 9/15/2024 9/15/2024 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 15,079.83 46 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

INTEREST
9/15/2024 9/15/2024 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 5,493.83 9/15/2024 9/15/2024 91282CCX7 US TREASURY N/B 0.37% 9/15/2024 14.06 9/15/2024 9/15/2024 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 3,716.42 9/15/2024 9/15/2024 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 8,179.79 9/15/2024 9/15/2024 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 86.42 9/15/2024 9/15/2024 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 14,534.00 9/15/2024 9/15/2024 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 15,693.75 9/15/2024 9/15/2024 161571HV9 CHAIT 2024-A1 A 4.60% 1/16/2029 14,662.50 9/15/2024 9/15/2024 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 14,708.75 9/15/2024 9/15/2024 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 2.11 9/15/2024 9/15/2024 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 13,272.00 9/15/2024 9/15/2024 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 80.65 9/15/2024 9/15/2024 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 6,308.00 9/15/2024 9/15/2024 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 3,547.50 9/15/2024 9/15/2024 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 36.86 9/15/2024 9/15/2024 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 385.46 9/15/2024 9/15/2024 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 4,774.00 47 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

INTEREST
9/16/2024 9/16/2024 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 1,657.08 9/18/2024 9/18/2024 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 734.87 9/18/2024 9/18/2024 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 11,902.00 9/23/2024 9/23/2024 3137EAEX3 FREDDIE MAC 0.37% 9/23/2025 6,646.88 9/29/2024 9/29/2024 17325FBB3 CITIBANK NA (CALLABLE) 5.80% 9/29/2028 180,908.53 9/29/2024 9/29/2024 3133EMBH4 FEDERAL FARM CREDIT BANK (CALLABLE) 0.53% 9/29/2025 6,002.25 9/30/2024 9/30/2024 857477BM4 STATE STREET CORP (CALLABLE) 2.90% 3/30/2026 54,393.75 9/30/2024 9/30/2024 91282CEF4 US TREASURY N/B 2.50% 3/31/2027 66,875.00 9/30/2024 9/30/2024 91282CCZ2 US TREASURY N/B 0.87% 9/30/2026 16,187.50 9/30/2024 9/30/2024 91282CGT2 US TREASURY N/B 3.62% 3/31/2028 77,212.50 9/30/2024 9/30/2024 91282CCY5 US TREASURY N/B 1.25% 9/30/2028 3,281.25 9/30/2024 9/30/2024 91282CBS9 US TREASURY N/B 1.25% 3/31/2028 48,250.00 9/30/2024 9/30/2024 91282CKF7 US TREASURY N/B 4.12% 3/31/2031 78,787.50 9/30/2024 9/30/2024 91282CAL5 US TREASURY N/B 0.37% 9/30/2027 4,500.00 Total INTEREST 332,763,958.92 3,695,189.19 0.00

MATURITY
7/25/2024 7/25/2024 3,875,000.00 912797JT5 WI TREASURY SEC. BILLS 0.00% 7/25/2024 3,875,000.00 48 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

MATURITY
8/1/2024 8/1/2024 7,500.00 574193TQ1 MD ST TXBL GO BONDS 0.51% 8/1/2024 7,519.13 8/9/2024 8/9/2024 1,680,000.00 46647PCM6 JPMORGAN CHASE & CO CORP NOTES (CALLED, 0.76% 8/9/2024 1,686,451.20 8/31/2024 8/31/2024 7,500.00 9128282U3 US TREASURY N/B 1.87% 8/31/2024 7,500.00 9/15/2024 9/15/2024 7,500.00 91282CCX7 US TREASURY N/B 0.37% 9/15/2024 7,500.00 Total MATURITY 5,577,500.00 5,583,970.33 0.00

PAYDOWNS
7/1/2024 7/25/2024 3,552.97 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 3,552.97 7/1/2024 7/25/2024 1,878.04 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 1,878.04 7/1/2024 7/25/2024 5,759.00 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 5,759.00 7/1/2024 7/25/2024 12,268.24 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 12,268.24 7/1/2024 7/25/2024 2,203.65 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 2,203.65 7/15/2024 7/15/2024 12,945.87 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 12,945.87 7/15/2024 7/15/2024 23,560.94 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 23,560.94 7/15/2024 7/15/2024 18,418.35 44933LAC7 HART 2021-A A3 0.38% 9/15/2025 18,418.35 7/15/2024 7/15/2024 30,716.22 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 30,716.22 7/15/2024 7/15/2024 40,670.05 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 40,670.05 7/18/2024 7/18/2024 19,729.97 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 19,729.97 49 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

PAYDOWNS
8/1/2024 8/25/2024 2,164.73 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 2,164.73 0.05 8/1/2024 8/25/2024 10,670.56 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 10,670.56 8/1/2024 8/25/2024 1,643.10 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 1,643.10 8/1/2024 8/25/2024 4,417.10 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 4,417.10 0.02 8/1/2024 8/25/2024 5,440.10 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 5,440.10 8/15/2024 8/15/2024 12,772.74 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 12,772.74 8/15/2024 8/15/2024 42,720.98 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 42,720.98 8/15/2024 8/15/2024 23,407.46 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 23,407.46 8/15/2024 8/15/2024 30,051.33 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 30,051.33 8/18/2024 8/18/2024 20,307.31 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 20,307.31 9/1/2024 9/25/2024 4,443.30 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 4,443.30 0.01 9/1/2024 9/25/2024 2,176.33 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 2,176.33 0.04 9/1/2024 9/25/2024 5,458.35 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 5,458.35 107.12 9/1/2024 9/25/2024 13,683.49 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 13,683.49 178.33 9/1/2024 9/25/2024 1,650.82 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 1,650.82 20.10 9/1/2024 9/25/2024 188,880.74 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 188,880.74 2,506.01 9/15/2024 9/15/2024 797,500.00 254683CP8 DCENT 2021-A1 A1 0.58% 9/15/2026 797,500.00 68.76 50 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

PAYDOWNS
9/15/2024 9/15/2024 7,448.07 14316NAC3 CARMX 2021-1 A3 0.34% 12/15/2025 7,448.07 0.38 9/15/2024 9/15/2024 23,739.91 44935FAD6 HART 2021-C A3 0.74% 5/15/2026 23,739.91 1.97 9/15/2024 9/15/2024 41,221.84 89239BAC5 TAOT 2021-C A3 0.43% 1/15/2026 41,221.84 1.01 9/15/2024 9/15/2024 30,095.31 14314QAC8 CARMX 2021-2 A3 0.52% 2/17/2026 30,095.31 1.91 9/18/2024 9/18/2024 19,963.22 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 19,963.22 0.56 Total PAYDOWNS 1,461,560.09 1,461,560.09 2,886.27
SELL
7/2/2024 7/3/2024 2,560,000.00 023135CE4 AMAZON.COM INC 3.00% 4/13/2025 2,531,114.67 -44,897.26 7/16/2024 7/17/2024 1,190,000.00 89236TGT6 TOYOTA MOTOR CREDIT CORP 1.80% 2/13/2025 1,174,910.80 -26,232.96 7/16/2024 7/17/2024 1,145,000.00 91282CES6 US TREASURY N/B 2.75% 5/31/2029 1,081,551.10 -9,475.04 7/16/2024 7/17/2024 2,185,000.00 91282CES6 US TREASURY N/B 2.75% 5/31/2029 2,063,920.64 -42,094.69 7/16/2024 7/17/2024 670,000.00 91282CES6 US TREASURY N/B 2.75% 5/31/2029 632,872.69 -34,270.13 7/16/2024 7/17/2024 980,000.00 38148LAE6 GOLDMAN SACHS GROUP INC (CALLABLE) 3.75% 5/22/2025 972,237.58 -30,610.29 8/1/2024 8/2/2024 1,002,500.00 3135G04Z3 FANNIE MAE 0.50% 6/17/2025 966,645.59 -36,118.05 8/1/2024 8/2/2024 1,490,000.00 3135G04Z3 FANNIE MAE 0.50% 6/17/2025 1,436,710.15 -55,197.50 8/1/2024 8/2/2024 4,137,500.00 3135G04Z3 FANNIE MAE 0.50% 6/17/2025 3,989,522.31 -153,847.89 8/8/2024 8/9/2024 2,000,000.00 438516CB0 HONEYWELL INTERNATIONAL (CALLABLE) 1.35% 6/1/2025 1,949,340.00 -63,556.69 51 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
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.

For more information regarding PFMAM's services or entities, please visit www.pfmam.com. © 2023 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. 53 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
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.

ICE Bank of America Indices provided by Bloomberg Financial Markets.

Money market fund/cash balances are included in performance and duration computations.

Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.

Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.

MBS maturities are represented by expected average life. 54 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
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.
55 ATTACHMENT A
© PFM Asset Management LLC pfmam.com

CITY OF STOCKTON
For the Quarter Ended September 30, 2024
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. 56 ATTACHMENT A

INVESTMENT REPORT
City of Stockton | As of September 30, 2024
CHANDLER ASSET MANAGEMENT | chandlerasset.com
Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement. 57 ATTACHMENT A

TABLE OF CONTENTS
City of Stockton | As of September 30, 2024

ECONOMIC UPDATE

ACCOUNT PROFILE

CONSOLIDATED INFORMATION

PORTFOLIO HOLDINGS

TRANSACTIONS
58 ATTACHMENT A

ECONOMIC UPDATE
59 ATTACHMENT A
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

Recent economic data suggests positive but slower growth this year fueled by consumer spending. While the consumer has been resilient, declining savings rates, growing credit card debt, higher delinquencies, and a moderating labor market pose potential headwinds to future economic growth. Inflationary trends are subsiding, but core levels remain above the Fed’s target. The labor market is showing signs of cooling, reflecting an improved balance between supply and demand for workers. Given the cumulative effects of restrictive monetary policy and tighter financial conditions, we believe the economy will gradually soften and the Fed will continue to lower rates at a measured pace through this year with the ability to move more aggressively should the employment data warrant.

The Federal Open Market Committee (FOMC) delivered the first rate cut of the easing cycle with a 50 basis point cut at the September meeting. Although a reduction in the Fed Funds Rate was widely anticipated, the magnitude was somewhat of a surprise, as market participants were split between whether theFOMC would cut by 25 basis points or 50 basis points. Chair Jerome Powell reiterated previous statements acknowledging that monetary policy has shifted into a more balanced approach addressing price stability and full employment in tandem. The Fed released the quarterly Summary of Economic Projections (SEP) which now forecasts a substantially lower median Fed Funds Rate expectation among Fed Governors in 2025 due to lower inflation expectations and a higher projected unemploymentrate. We believe the Fed will continue to lower rates at a measured pace through this year with the ability to move more aggressively should the employment data warrant.

The US Treasury yield curve shifted lower in September following the 50 basis points rate cut by the FOMC mid-month. The 2-year Treasury yield fell 28 basis points to 3.64%, the 5-year Treasury dropped15 basis points to 3.56%, and the 10-year Treasury yield declined 12 basis points to 3.78%. The 2-year and 10-year Treasury yield points on the curve began to normalize to +14 basis points at Septembermonth-end versus -2 basis points at August month-end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was -47 basis points. The inversion between 3-month and 10-year Treasuries ended the month of September at -85 basis points.

ECONOMIC UPDATE
60 ATTACHMENT A
-400
-200
0 200
400
600
800
1,000MOM Change In Thousands (000's)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3-month average (000's)

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
The U.S. economy added 254,000 jobs in September,well above expectations of 150,000. The three-monthmoving average and six-month moving average payrolls continued to trend weaker to 186,000 and 167,000 respectively. The unemployment rate declined to 4.1% in September, and the labor participation rate remained at 62.7%, remaining below the pre-pandemic level of 63.3%. The U-6 underemployment rate, which includes those who are marginally attached to the labor force and employed part time for economic reasons declined to 7.7% from 7.9%. Average hourly earnings rose 4.0% year-over-year in September. U.S. labor market data from September surprised to the upside, with strong job growth and a sharper-than-expected drop in unemployment, suggesting the economy may be more resilient than anticipated. The Federal Reserve’s view is that there has been “substantial” progress towards better balance in the labor market between demand and supply for workers.

Source: US Department of Labor Source: US Department of Labor

EMPLOYMENT
61 ATTACHMENT A
0 2,000
4,000
6,000
8,000
10,000
12,000
14,000
Job Openings
Recession
Historical Average
In Thousands (000's)
The Labor Department’s Job Openi ngs and Labor Turnover Survey (JOLTS) increased to 8.04 million job openings in August from an upwardly revised 7.71 million in July. Job openings have increased to a ratio of 1.13 jobs for each unemployed individual. The quits rate, an indicator of job availability, declined to 1.9% from downwardly revised 2.0% in July. That is the lowest level since 2020. While the current level of job openings remains elevated from a historical perspective, the trend is decelerating.

Source: US Department of Labor

JOB OPENINGS & LABOR TURNOVER SURVEY
62 ATTACHMENT A

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

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
Fed Target
YOY (%) Change
In September, the Cons umer Price Index (CPI) rose 0.2% month-over-monthand 2.4% year-over-year, down from 2.5% in August, but slightly higher than expected. The Core CPI, which excludes volatile food and energy components, rose by 0.3% month-over-monthand

3.3% year-over-year, also exceeding consensus forecasts. The Personal Consumption Expenditures (PCE) Index rose 0.1% from the previous month and 2.2% year-over-year in August. The Core PCE deflator (the Fed’s preferred gauge) increased 0.1% month-over-month and 2.7% over the past year, still above the Fed’s 2% inflation target. Much of the lingering inflation has been driven by shelter costs and demand for services, but recent data provide confirmation that inflation is moderating.

Source: US Department of Labor Source: US Department of Commerce

INFLATION
63 ATTACHMENT A
-30.0%
-20.0%
-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%
Retail Sales YOY % Change
YOY (%) Change
Retail Sales grew more tha n expected month-over-monthin September at 0.4% after growth of 0.1% in August. On a year-over-year basis, Retail Sales grew 1.7% in Septemberversus 2.2% in August. Control-groupsales, which are used to calculate gross domestic product,rose

0.7% month-over-monthin September after last month’s increase of 0.3%. Apparel, grocery stores, and miscellaneous store retailers led the advance, while gas station sales fell reflecting lower gas prices. The Conference Board’s Consumer Confidence Index for September came in below expectations, contracting to 98.7 after an upward revision to 105.6 in August. The decline reflects recent softening in labor market conditions, and less optimism about the job market and income growth. While the consumer has been resilient, declining savings rates, growing credit card debt, higher delinquencies, and a moderating labor market pose potential risks to future spending. 0 20
40 60
80 100
120
140
160
Index Level
Consumer Confidence
Recession
Source: US Department of Commerce Source: The Conference Board All time high is 144.70 (1/31/00); All time low is 25.30 (2/28/09)

CONSUMER
64 ATTACHMENT A
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%

0.0%

5.0%

10.0%

15.0%
Leading Economic Indicators (LEI)
Recession
YOY (%) Change
-1.00
-0.75
-0.50
-0.25

0.00 0.25

0.50 0.75

1.00 Chicago Fed National Activity Index (CFNAI)
Recession
3 Month Average
The Conference Board ’s Leading Economic Index (LEI) remained in negative territory at -0.2% in August, improving from -0.6% in July. The index dropped 5.0% year-over-year. The improvementcan be attributed to a decrease in the yield curve inversion, an increase in building permits, and stock market performance. The Chicago Fed National Activity Index (CFNAI) increased to 0.12 in August from a downwardly revised -0.42 in July, which was above consensus expectations. The three-month moving average fell to -0.17 in August from -0.13 in July, indicating below-trend growth expectations for the economy.

Source: The Conference Board Source: Federal Reserve Bank of Chicago

LEADING INDICATORS OF ECONOMIC ACTIVITY
65 ATTACHMENT A
0 200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400In Thousands of Units
Annualized Housing Starts
Multi Family Housing Starts
Single Family Housing Starts
Housing starts surprised to the downside in September,declining -0.5% month-over-monthto 1.354 million units after an increase of 7.8% in August. The decline can be attributed to a drop in multi-family housing projects. Total starts were down 0.7% year-over-year. The Freddie Mac average rate for a 30-year fixed mortgage dropped to 6.18% in September from 6.44% in August. According to the Case- Shiller 20-City Home Price Index, housing prices rose 5.9% year-over-year in July, decelerating from 6.5% reported in the previous month.

Although the trend is gradually improving, tight inventories and higher mortgage rates continue to impact affordability.

Source: US Department of Commerce Source: S&P
-20.0%
-16.0%
-12.0%
-8.0%
-4.0%

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%

24.0%
S&P/Case-Shiller 20 City Composite Home Price Index
Recession
YOY (%) Change

HOUSING
66 ATTACHMENT A
40 45
50 55
60 65
70 Institute of Supply Management (ISM) Surveys
ISM Manufacturing ISM Services

EXPANDING

CONTRACTING
The Institute for Supply Management (ISM) Manufacturing index contracted at a slower rate of 47.2 in September compared to 47.5 in August. Demand remains subdued and companies are continuing to reduce head counts through layoffs, attrition and hiring freezes. The ISM Services Index increased to 54.9 in September, increasing from 51.7 in August, due to stronger production and neworders. A reading over 50 indicates expansion, while a reading under 50 indicates contraction.

Source: Institute for Supply Management

SURVEY BASED MEASURES
67 ATTACHMENT A
Components of GDP 9/23 12/23 3/24 6/ 24

1.7% 2.3% 1.3% 1.9%

1.8% 0.2% 0.6% 1.5%
-0.1% 0.1% -0.6% -0.9%

0.3% 0.0% 0.0% 0.3%

0.6% 0.6% 0.3% 0.3%

4.4% 3.2% 1.6% 3.0%
State and Local (Consumption and Gross
Investment)
Personal Consumption Expenditures
Gross Private Domestic Investment
Net Exports and Imports
Federal Government Expenditures
Total
-40.0%
-30.0%
-20.0%
-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
Source: US Department of Commerce Source: US Department of Commerce According to the third est imate, second quarter GDP increased at an annualized rate of 3.0%, unchanged from the prior estimate. Growth continues to be powered by personal consumption expenditures. Gross fixed investment, government consumption expenditures, and inventories also had positive contributions, with a negative offset by net exports. The consensus projection calls for 2.0% growth in the third quarter and 2.6% growth for the full year 2024.

GROSS DOMESTIC PRODUCT (GDP)
68 ATTACHMENT A
Source: Federal Reserve Source: Bloomberg
0 1,000,000
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
Recession
In $ millions
The Federal Open Market Committee (FOMC) delivered the first rate cut of the easing cycle at the September meeting. Although a reduction in the Fed Funds Rate was widely anticipated, the magnitude was somewhat of a surprise, as market participants were split between whether the FOMC would cut by 25 basis points or 50 basis points. Chair Jerome Powell reiterated previous statements acknowledging that monetary policy has shifted into a more balanced approach addressing price stability and full employment in tandem.

The Fed released the quarterly Summary of Economic Projections (SEP) which now forecasts a substantially lower median Fed Funds Rate expectation among Fed Governors in 2025 to 3.1 – 3.6%. The Fed continues to reduce its holdings of U.S. Treasury securities and agency mortgage-backed securities as per its predefined schedule of $25 billion and $35 billion per month. Since the Fed began its Quantitative Tightening campaign in June 2022, securities holdings have declined by approximately $1.8T to approximately $7.1T.

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
Effective Federal Funds Rate
Recession
Yield (%)

FEDERAL RESERVE
69 ATTACHMENT A
Source: Bloomberg Source: Bloomberg

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Yield (%)

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Yield Curve
Sep-24
Jun-24
Sep-23
Yield (%)
At the end of September,the 2-year Treasury yield was 140 basis points lower, and the 10-Year Treasury yield was 79 basis points lower, year-over-year. The 2-year and 10-year Treasury yield points on the curve began to normalize to +14 basis points at Septembermonth-end versus -2 basis points at August month-end. The yield curve inversion which began in July 2022 was historically long. The average historical spread (since 2003) is about +110 basis points. The inversion between 3-month and 10-year Treasuries tightened to -85 basis points in September from -121 basis points in August.

BOND YIELDS
70 ATTACHMENT A

ACCOUNT PROFILE
71 ATTACHMENT A

OBJECTIVES
City of Stockton | As of September 30, 2024
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 be designed with the objective of attaining a market rate of return throughout budgetary and econmic cycles, taking into account the investment risk constraints and liquidity needs.

Chandler Asset Management Performance Objective
The performance objective for the portfolio is to earn a total rate of return through a market cycle that is equal to or above the return on the benchmark index.

Strategy
In order to achieve this objective, the portfolio invests in high-quality fixed income securities that comply with the investment policy and all regulations governing the funds. 72 ATTACHMENT A

STATEMENT OF COMPLIANCE
City of Stockton Reserve | Account #10020 | As of September 30, 2024 Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES (CMOS)
Max % (MV) 20.0 2.3 Compliant
Max % Issuer (MV; Agencies & Agency CMOs) 20.0 8.6 Compliant Max Maturity (Years) 10.0 3.7 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV; Non Agency ABS & MBS) 20.0 5.7 Compliant
Max % Issuer (MV) 5.0 1.5 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA by 1) 0.0 0.0 Compliant

BANKERS' ACCEPTANCES
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CERTIFICATE OF DEPOSIT PLACEMENT SERVICE
(CDARS)
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 0.0 0.0 Compliant

COLLATERALIZED TIME DEPOSITS (NON-

NEGOTIABLE CD/TD)
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COMMERCIAL PAPER
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rat
ing (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 25.3 Compliant
Max % Issuer (MV) 5.0 1.4 Compliant
73 ATTACHMENT A

STATEMENT OF COMPLIANCE
City of Stockton Reserve | Account #10020 | As of September 30, 2024 Rules Name Limit Actual Compliance
Status Notes
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant

FEDERAL AGENCIES
Max % (MV) 100.0 22.3 Compliant
Max % Issuer (MV; Agencies & Agency CMOs) 100.0 8.6 Compliant Max Callables (MV) 20.0 0.7 Compliant
Max Maturity (Years) 10 9 Compliant

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV) 75.0 0.0 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 0.2 Compliant
Max % Issuer (MV) 20.0 0.2 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

MORTGAGE -BACKED SECURITIES (NON-AGENCY)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 30.0 0.7 Compliant
Max % Issuer (MV) 5.0 0.3 Compliant
Max Maturity (Years) 10 0.0 Comp liant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV) 30.0 0.7 Compliant
Max % Issuer (MV) 5.0 0.5 Compliant
74 ATTACHMENT A

STATEMENT OF COMPLIANCE
City of Stockton Reserve | Account #10020 | As of September 30, 2024 Rules Name Limit Actual Compliance
Status Notes
Max Maturity (Years) 10 1 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 1.8 Compliant
Max % Issuer (MV) 5.0 1.9 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0.0 Compliant

REPURCHASE AGREEMENTS
Max Maturity (Years) 1.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 10.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 41.0 Compliant
Max Maturity (Years) 10 8 Compliant
75 ATTACHMENT A

PORTFOLIO CHARACTERISTICS
City of Stockton Reserve | Account #10020 | As of September 30, 2024 Benchmark* 9/30/2024
Portfolio
6/30/2024
Portfolio
Average Maturity (yrs) 2.70 3.14 3.02
Average Modified Duration 2.52 2.68 2.58
Average Purchase Yield 2.99% 2.76%
Average Market Yield 3.72% 4.01% 4.96%
Average Quality** AA+ AA AA
Total Market Value 334,796,278 324,199,869
*Benchmark: ICE BofA 1-5 Year Gov/Corp A or better
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 76 ATTACHMENT A

SECTOR DISTRIBUTION
City of Stockton Reserve | Account #10020 | As of September 30, 2024 Sector as a Percentage of Market Value
Sector 09/30/2024 06/30/2024
US Treasury 41.01% 39.48%
Corporate 25.26% 25.19%
Agency 22.32% 22.58%
ABS 5.70% 5.27%
Agency CMBS 2.27% 2.28%
Neg CD 1.81% 1.86%
Muni Bonds 1.43% 1.87%
Money Mkt Fd 0.20% 0.18%
Supras -- 1.29%
77 ATTACHMENT A

ISSUERS
City of Stockton Reserve | Account #10020 | As of September 30, 2024 Issuer Investment Type % Portfolio
United States US Treasury 41.01%
FNMA Agency 8.66%
Farm Credit System Agency 5.92%
Federal Home Loan Banks Agency 5.21%
FHLMC Agency CMBS 2.27%
Westpac Banking Corporation Neg CD 1.81%
FHLMC Agency 1.70%
Chase Issuance Trust ABS 1.51%
Toyota Motor Corporation Corporate 1.34%
Bank of America Corporation Corporate 1.33%
Deere & Company Corporate 1.32%
John Deere Owner Trust ABS 1.28%
Caterpillar Inc. Corporate 1.24%
The Home Depot, Inc. Corporate 1.24%
Morgan Stanley Corporate 1.19%
Visa Inc. Corporate 1.17%
UnitedHealth Group Incorporated Corporate 1.15%
PACCAR Inc Corporate 1.11%
Novartis AG Corporate 1.09%
The Charles Schwab Corporation Corporate 1.01%
Cisco Systems, Inc. Corporate 0.93%
Mastercard Incorporated Corporate 0.93%
Massachusetts Mutual Life Insurance Corporate 0.92%
National Rural Utilities Cooperative Corporate 0.91%
Prologis, Inc. Corporate 0.88%
JPMorgan Chase & Co. Corporate 0.88%
Tennessee Valley Authority Agency 0.82%
Microsoft Corporation Corporate 0.80%
Amazon.com, Inc. Corporate 0.76%
State Street Corporation Corporate 0.74%
78 ATTACHMENT A

ISSUERS
City of Stockton Reserve | Account #10020 | As of September 30, 2024 Issuer Investment Type % Portfolio
Eli Lilly and Company Corporate 0.69%
Northern Trust Corporation Corporate 0.66%
BMW Vehicle Owner Trust ABS 0.63%
Honda Auto Receivables 2024-3 Owner ABS 0.62%
Target Corporation Corporate 0.62%
Merck & Co., Inc. Corporate 0.61%
PepsiCo, Inc. Corporate 0.60%
Honeywell International Inc. Corporate 0.59%
Florida Hurricane Catastrophe Fund F Muni Bonds 0.55%
The Goldman Sachs Group, Inc. Corporate 0.54%
Bank of America Credit Card Trust ABS 0.50%
American Express Credit Master Trust ABS 0.39%
Honda Auto Receivables Owner Trust ABS 0.32%
Los Angeles Community College Distri Muni Bonds 0.28%
Hyundai Auto Receivables Trust 2024- ABS 0.28%
University of California Muni Bonds 0.22%
Federated Hermes, Inc. Money Mkt Fd 0.20%
California State University Muni Bonds 0.19%
State of New Jersey Muni Bonds 0.16%
BMW Vehicle Lease Trust ABS 0.07%
Toyota Auto Receivables Owner Trust ABS 0.05%
Hyundai Auto Receivables Trust ABS 0.03%
State of California Muni Bonds 0.02%
CarMax Auto Owner Trust ABS 0.02%
Cash Cash 0.01%
TOTAL 100.00%
79 ATTACHMENT A

QUALITY DISTRIBUTION
Rating 09/30/2024 06/30/2024
AAA 6.3% 8.2%
AA 71.8% 71.9%
A 19.1% 17.7%
BBB 0.5% 0.6%
NR 2.2% 1.6%
Rating 09/30/2024 06/30/2024
AAA 71.9% 71.9%
AA 5.1% 6.7%
A 20.6% 19.2%
NR 2.4% 2.2%
Rating 09/30/2024 06/30/2024
AAA 7.1% 6.5%
AA 69.8% 69.8%
A 12.0% 11.4%
NR 11.1% 12.4%
City of Stockton Reserve | Account #10020 | As of September 30, 2024 S&P Rating Moody’s Rating Fitch Rating
80 ATTACHMENT A
0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
Portfolio 1.3% 7.0% 16.5% 25.5% 7.8% 14.3% 14.1% 8.3% 5.2% ICE BofA 1-5 Year Gov/Corp A or better 0.1% 0.1% 2.2% 34.6% 27.1% 23.2% 12.8% 0.0% 0.0%

DURATION DISTRIBUTION
City of Stockton Reserve | Account #10020 | As of September 30, 2024 Portfolio Compared to the Benchmark
81 ATTACHMENT A
3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception

TOTAL RATE OF RETURN
City of Stockton Reserve 3.28% 7.86% 5.08% 3.48%
ICE BofA 1-5 Year Gov/Corp A or better 3.41% 7.66% 4.94% 3.10% ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index 3.37% 7.44% 4.75% 2.96% Basis Point Fee* 0.01% 0.04% 0.04% 0.04%
Net of Fees 3.27% 7.83% 5.04% 3.44%
3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception*

MARKET VALUE BASIS EARNINGS
Income Earned 6,449,629 8,151,113 13,071,174 14,052,543 14,052,543 24,836,189 26,825,360 Change in Market Value 24,034,793 55,719,533 48,679,138 48,679,138 209,206,141 274,741,010 TOTAL DOLLAR RETURN 31,954,068 345,966,638 345,966,638 345,966,638 345,966,638 345,966,638

INVESTMENT PERFORMANCE
City of Stockton Reserve | Account #10020 | As of September 30, 2024 Total and Realized Rate of Return : Inception | 08/01/2022 *Periods over 1 year are annualized.

Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending market value; it includes interest earnings, realized and unrealized gains and losses in the portfolio. Realized rate of return: A measure of a portfolio’s return over time. It is the internal rate which equates the beginning book value of the portfolio with the ending book value; it includes interest earnings, realized gains and losses in the portfolio. 82 ATTACHMENT A

HISTORICAL AVERAGE PURCHASE YIELD
City of Stockton Reserve | Account #10020 | As of September 30, 2024 Purchase Yield as of
09/30/24 = 2.99%
83 ATTACHMENT A

PORTFOLIO CHARACTERISTICS
City of Stockton Enhanced Cash | Account #11194 | As of September 30, 2024 Benchmark* 9/30/2024
Portfolio
6/30/2024
Portfolio
Average Maturity (yrs) 0.16 0.09 0.24
Average Modified Duration 0.16 0.08 0.23
Average Purchase Yield 5.22% 5.41%
Average Market Yield 4.74% 4.84% 5.37%
Average Quality** AA+ AAA AAA
Total Market Value 30,615,901 30,193,707
*Benchmark: ICE BofA 3-Month US Treasury Bill Index
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 84 ATTACHMENT A

SECTOR DISTRIBUTION
City of Stockton Enhanced Cash | Account #11194 | As of September 30, 2024 Sector as a Percentage of Market Value
Sector 09/30/2024 06/30/2024
US Treasury 69.46% 35.67%
Comm Paper 22.90% 39.74%
Neg CD 7.60% 24.52%
85 ATTACHMENT A

ISSUERS
City of Stockton Enhanced Cash | Account #11194 | As of September 30, 2024 Issuer Investment Type % Portfolio
United States US Treasury 69.46%
Mitsubishi UFJ Financial Group, Inc. Comm Paper 22.90%
The Bank of Nova Scotia Neg CD 7.60%
Federated Hermes, Inc. Money Mkt Fd 0.03%
Cash Cash 0.01%
TOTAL 100.00%
86 ATTACHMENT A

QUALITY DISTRIBUTION
Rating 09/30/2024 06/30/2024
AAA 69.2% 69.2%
A 30.8% 30.8%
Rating 09/30/2024 06/30/2024
AAA 100.0% 100.0%
Rating 09/30/2024 06/30/2024
AAA 77.2% 60.7%
NR 22.8% 39.3%
City of Stockton Enhanced Cash | Account #11194 | As of September 30, 2024 S&P Rating Moody’s Rating Fitch Rating
87 ATTACHMENT A
0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
Portfolio 100.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% ICE BofA 3-Month US Treasury Bill Index 100.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

DURATION DISTRIBUTION
City of Stockton Enhanced Cash | Account #11194 | As of September 30, 2024 Portfolio Compared to the Benchmark
88 ATTACHMENT A

CONSOLIDATED INFORMATION
89 ATTACHMENT A

PORTFOLIO CHARACTERISTICS
City of Stockton ConsAgg | Account #10021 | As of September 30, 2024 9/30/2024
Portfolio
6/30/2024
Portfolio
Average Maturity (yrs) 2.88 2.79
Average Modified Duration 2.46 2.38
Average Purchase Yield 3.18% 2.99%
Average Market Yield 4.08% 4.99%
Average Quality** AA AA
Total Market Value 365,412,180 354,393,576
*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 90 ATTACHMENT A

SECTOR DISTRIBUTION
City of Stockton ConsAgg | Account #10021 | As of September 30, 2024 Sector as a Percentage of Market Value
Sector 09/30/2024 06/30/2024
US Treasury 43.39% 39.16%
Corporate 23.14% 23.05%
Agency 20.45% 20.66%
ABS 5.22% 4.82%
Neg CD 2.29% 3.78%
Agency CMBS 2.08% 2.09%
Comm Paper 1.92% 3.37%
Muni Bonds 1.31% 1.71%
Money Mkt Fd 0.19% 0.17%
Supras -- 1.18%
91 ATTACHMENT A

PORTFOLIO HOLDINGS
92 ATTACHMENT A

HOLDINGS REPORT
City of Stockton Reserve | Account #10020 | As of September 30, 2024 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
05593AAC3 BMWLT 2023-1 A3 5.16
11/25/2025 243,175.03 02/07/2023

5.43%
243,169.24
243,172.64
100.08

4.88%
243,375.73
209.13

0.07%
203.09
Aaa/AAA
NA

1.15 0.25
89239BAC5 TAOT 2021-C A3 0.43 01/15/2026 183,844.84 09/27/2021

0.43%
183,830.19
183,841.19

99.14 4.95%
182,263.39

35.13 0.05%
(1,577.80)
Aaa/AAA
NA

1.29 0.19
14314QAC8 CARMX 2021-2 A3 0.52
02/17/2026 54,962.08 04/21/2021

0.53%
54,950.23
54,959.91

99.62 5.41%
54,755.86

12.70 0.02%
(204.06)
NA/AAA
AAA

1.38 0.08
44935FAD6 HART 2021-C A3 0.74 05/15/2026 116,406.81 11/17/2021

0.75%
116,380.82
116,398.89

99.08 5.23%
115,334.79

38.28 0.03%
(1,064.10)
NA/AAA
AAA

1.62 0.20
05592XAD2 BMWOT 2023-A A3 5.47
02/25/2028 610,000.00 07/11/2023

5.47%
609,891.91
609,920.23
101.24

4.43%
617,561.01
556.12

0.19%
7,640.78
NA/AAA
AAA

3.41 1.12
477920AC6 JDOT 2023-B A3 5.18 03/15/2028 1,085,000.00 06/21/2023

5.51%
1,084,819.02
1,084
,867.47
101.16

4.41%
1,097,577.21
2,497.91

0.33%
12,709.74
Aaa/NA
AAA

3.46 1.40
02582JJZ4 AMXCA 2023-1 A 4.87 05/15/2026 1,270,000.00 06/07/2023

4.87%
1,269,887.35
1,269,919.34
101.19

4.14%
1,285,173.58
2,748.84

0.39%
15,254.24
NA/AAA
AAA

1.62 1.53
47787CAC7 JDOT 2023-C A3 5.48 05/15/2028
3,105
,000.00 09/12/2023

5.40%
3,104,786.69
3,104,834.12
101.66

4.46%
3,156,543.31
7,562.40

0.95%
51,709.19
Aaa/NA
AAA

3.62 1.52
438123AC5 HAROT 2023-4 A3 5.67
06/21/2028 1,050,000.00 11/01/2023

5.74%
1,049,815.10
1,049,851.05
102.32

4.18%
1,074,397.07
1,653.75

0.32%
24,546.01
Aaa/NA
AAA

3.73 1.47
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 4,915,000.00 --

5.13%
4,920,147.11
4,918,533.71
102.17

4.04%
5,021,677.13
11,271.73

1.51%
103,143.42
NR/AAA
AAA

3.96 1.82
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 1,445,000.00 06/04/2024

5.24%
1,444,780.51
1,444,794.79
102.19

4.05%
1,476,678.30
1,247.52

0.44%
31,883.51
Aaa/AAA
NA

4.41 1.84
44934QAD3 HART 2024-B A3 4.84 03/15/2029 910,000.00 07/16/2024

4.90%
909,862.68
909,868.27
101.71

4.12%
925,524.96
1,957.51

0.28%
15,656.69
NA/AAA
AAA

4.45 2.19
43813YAC6 HAROT 2024-3 A3 4.57

03/21/2029 2,040,000.00 08/09/2024

4.62%
2,039,679.52
2,039,687.37
100.97

4.15%
2,059,704.77
2,589.67

0.62%
20,017.39
Aaa/NA
AAA

4.47 2.07
05522RDJ4 BACCT 2024-1 A 4.93 03/15/2029 1,635,000.00 06/06/2024

4.93%
1,634,908.28
1,634,914.09
102.32

4.03%
1,672,948.84
3,582.47

0.50%
38,034.75
Aaa/AAA
NA

4.45 2.41
Total ABS 18,663,388.76 5.07%
18,666,908.66
18,665,563.09
101.72

4.20%
18,983,515.95
35,963.17

5.70%
317,952.86
Aaa/AAA
AAA

3.76 1.73
AGENCY
93 ATTACHMENT A

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3130AJHU6 FEDERAL HOME LOAN BANKS 0.5
04/14/2025 2,460,000.00 04/15/2020

0.60%
2,447,798.40
2,458,695.55

97.98 4.36%
2,410,259.00
5,705.83

0.72%
(48,436.56)
Aaa/AA+
AA+

0.54 0.52
3135G03U5 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.625 04/22/2025 10,880,000.00 --

0.63%
10,879,060.80
10,879,913.11

97.98 4.33%
10,660,044.81
30,033.33

3.20%
(219,868.30)
Aaa/AA+
AA+

0.56 0.54
3135G04Z3 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.5 06/17/2025 6,642,500.00 06/17/2020

0.54%
6,628,750.02
6,640,549.70

97.43 4.20%
6,471,992.21
9,594.72

1.94%
(168,557.50)
Aaa/AA+
AA+

0.71 0.70
3137EAEU9 FEDERAL HOME LOAN MORTGAGE
CORP 0.375 07/21/2025 2,310,000.00 07/21/2020

0.48%
2,298,496.20
2,308,152.08

97.12 4.04%
2,243,583.67
1,684.38

0.67%
(64,568.41)
Aaa/AA+
AA+

0.80 0.79
3135G05X7 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.375 08/25/2025 3,995,000.00 08/25/2020

0.47%
3,976,303.40
3,991,641.57

96.87 3.95%
3,869,774.69
1,498.13

1.16%
(121,866.89)
Aaa/AA+
AA+

0.90 0.88
3137EAEX3 FEDERAL HOME LOAN MORTGAGE
CORP 0.375 09/23/2025 3,545,000.00 09/23/2020

0.44%
3 ,534,329.55
3,542,911.54

96.53 4.03%
3,422,108.43
295.42

1.03%
(120,803.11)
Aaa/AA+
AA+

0.98 0.96
3133EMBH4 FEDERAL FARM CREDIT BANKS
FUNDING CORP 0.53 09/29/2025 2,265,000.00 10/07/2020

0.57%
2,261,036.25
2,264,207.69

96.60 4.05%
2,188,070.32

66.69 0.66%
(76,137.37)
Aaa/AA+
AA+

1.00 0.97
3135G06G3 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.5 11/07/2025
8,145
,000.00 --

0.54%
8,127,104.90
8,141,054.39

96.23 4.04%
7,837,667.16
16,290.00

2.35%
(303,387.23)
Aaa/AA+
AA+

1.10 1.07
3130ATS57 FEDERAL HOME LOAN BANKS 4.5
03/10/2028 4,100,000.00 03/28/2023

3.89%
4,211,028.00
4,177,130.07
102.91

3.59%
4,219,410.66
10,762.50

1.27%
42,280.58
Aaa/AA+
AA+

3.44 3.17
3133ERDH1 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.75 04/30/2029 2,500,000.00 04/29/2024

4.70%
2,505,075.00
2,504,646.99
104.80

3.60%
2,619,981.95
49,809.03

0.79%
115,334.96
Aaa/AA+
AA+

4.58 4.03
3130B1BC0 FEDERAL HOME LOAN BANKS

4.625 06/08/2029 1,900,000.00 07/30/2024

4.10%
1,943,358.00
1,941,841.82
104.30

3.62%
1,981,654.93
36,126.39

0.60%
39,813.12
Aaa/AA+
AA+

4.69 4.13
3133EN7B0 FEDERAL FARM CREDIT BANKS
FUNDING CORP 3.75 01/25/2030 3,000,000.00 01/20/2023

3.83%
2,985,090.00
2,988,676.10
100.55

3.63%
3,016,600.71
20,625.00

0.91%
27,924.61
Aaa/AA+
AA+

5.32 4.75
313
3EN4V9 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.125 09/23/2030 2,100,000.00 12/22/2022

4.22%
2,087,505.00
2,090,351.41
101.52

3.84%
2,131,871.91
1,925.00

0.64%
41,520.50
Aaa/AA+
AA+

5.98 5.26
3133ENQ45 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.25 09/30/2030 875,000.00 11/30/2022

4.40%
866,250.00
868,302.17
102.74

3.74%
898,939.73
103.30

0.27%
30,637.56
Aaa/AA+
AA+

6.00 5.27
880591EX6 TENNESSEE VALLEY AUTHORITY

1.5 09/15/2031 1,003,000.00 01/23/2023

4.03%
818,959.53
854,881.25

85.79 3.85%
860,439.38
668.67

0.26%
5,558.13
Aaa/AA+
AA+

6.96 6.47
3133E
NFQ8 FEDERAL FARM CREDIT BANKS
FUNDING CORP 1.81 12/01/2031 2,303,000.00 01/25/2023

3.94%
1,939,056.91
2,008,218.49

86.79 3.94%
1,998,726.74
13,894.77

0.60%
(9,491.75)
Aaa/AA+
AA+

7.17 6.54
3133ENGS3 FEDERAL FARM CREDIT BANKS
FUNDING CORP 1.625 12/09/2031 4,500,000.00 02/24/2023

4.35%
3,613,410.00
3,774,306.59

85.60 3.94%
3,852,211.95
22,750.00

1.16%
77,905.36
Aaa/AA+
AA+

7.19 6.61
94 ATTACHMENT A

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3133EN6M7 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.0 01/19/2033 3,000,000.00 01/18/2023

3.93%
3,017,490.00
3,014,516.75

99.92 4.01%
2,997,638.16
24,000.00

0.90%
(16,878.59)
Aaa/AA+
AA+

8.30 6.95
3130AV4X7 FEDERAL HOME LOAN BANKS

4.375 03/11/2033 2,500,000.00 05/12/2023

4.04%
2,568,175.00
2,558,579.58
102.59

4.01%
2,564,661.85
6,076.39

0.77%
6,082.27
Aaa/AA+
AA+

8.44 7.01
3130AVWG3 FEDERAL HOME LOAN BANKS 4.0
06/10/2033 6,195,000.00 --

4.40%
5,998,322.75
6,022,308.95

99.69 4.04%
6,175,761.74
76,405.00

1.85%
153,452.78
Aaa/AA+
AA+

8.69 7.19
880591FB3 TENNESSEE VALLEY AUTHORITY

4.375 08/01/2034 1,845,000.00 08/08/2024

4.49%
1,828,561.05
1,828,782.34
101.97

4.13%
1,881,263.14
10,762.50

0.57%
52,480.80
Aaa/AA+
AA+

9.84 7.91
74,535,160.76 97.91 74,302,663.11 22.32% Aaa/AA+ 3.61
Total Agency 76,063,500.00 2.27% 74,859,668.14 4.01% 339,077.04 (557,005.03) AA+ 3.16

AGENCY CMBS
3137F2LJ3 FHMS K-066 A2 3.117 06/25/2027 2,400,000.00 10/20/2022

4.80%
2,234,343.75
2,304,057.42

97.84 3.94%
2 ,348,077.92
6,234.00

0.71%
44,020.50
Aaa/AA+
AAA

2.73 2.45
3137FG6X8 FHMS K-077 A2 3.85 05/25/2028 5,245,000.00 05/24/2023

4.24%
5,148,705.08
5,174,947.86

99.59 3.93%
5,223,240.07
16,827.71

1.57%
48,292.21
Aaa/AA+
AAA

3.65 3.28
7,383,048.83

99.04 7
,571,317.99 2.27% Aaa/AA+ 3.37
Total Agency CMBS 7,645,000.00 4.42% 7,479,005.28 3.93% 23,061.71 92,312.71 AAA 3.02 CASH
CCYUSD Receivable 19,002.52 --

0.00%
19,002.52
19,002.52

1.00 0.00%
19,002.52

0.00 0.01%

0.00 Aaa/AAA
AAA

0.00 0.00
19,002.52 1.00 19,002.52 0.01% Aaa/AAA 0.00
Total Cash 19,002.52 0.00% 19,002.52 0.00% 0.00 0.00 AAA 0.00

CORPORATE
24422EVY2 JOHN DEERE CAPITAL CORP 1.25
01/10/2025 2,357,500.00 03/08/2022

2.16%
2,298,067.42
2,351,711.48

99.02 4.86%
2,334,327.66
6,630.47

0.70%
(17,383.82)
A1/A
A+

0.28 0.27
594918BB9 MICROSOFT CORP 2.7 02/12/2025 2,675,000.00 03/04/2021

0.77%
2,863,881.75
2,680,898.17

99.33 4.55%
2,657,134.85
9,830.63

0.80%
(23,763.31)
Aaa/AAA
WR

0.37 0.36
89236TGT6 TOYOTA MOTOR CREDIT CORP 1.8
02/13/2025 1,887,500.00 05/20/2020

1.59%
1,905,940.87
1,888,939.03

98.93 4.77%
1,867,248.92
4,530.00

0.56%
(21,690.11)
A1/A+
A+

0.37 0.36
95 ATTACHMENT A

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
66989HAP3 NOVARTIS CAPITAL CORP 1.75
02/14/2025 3,680,000.00 05/08/2020

0.99%
3,809,756.80
3,687,976.85

98.97 4.58%
3,642,034.76
8,407.78

1.09%
(45,942.09)
Aa3/AA-
AA-

0.38 0.36
023135CE4 AMAZON.COM INC 3.0
04/13/2025 2,567,500.00 04/11/2022

3.05%
2,563,417.67
2,566,777.40

99.19 4.55%
2,546,742.30
35,945.00

0.76%
(20,035.10)
A1/AA
AA-

0.53 0.51
38148LAE6 GOLDMAN SACHS GROUP INC

3.75 05/22/2025 1,817,500.00 02/12/2021

0.80%
2,030,474.65
1,838,419.75

99.40 4.71%
1,806,562.99
24,422.66

0.54%
(31,856.75)
A2/BBB+
A

0.64 0.62
438516CB0 HONEYWELL INTERNATIONAL INC

1.35 06/01/2025 2,000,000.00 09/03/2021

0.81%
2,039,160.00
2,006,237.36

98.12 4.24%
1,962,314.64
9,000.00

0.59%
(43,922.72)
A2/A
A

0.67 0.65
63743HFF4

NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP 5.45
10/30/2025
3,000,000.00 10/31/2022

5.26%
3,015,750.00
3,005,677.49
101.30

4.21%
3,038,885.61
68,579.17

0.91%
33,208.12
A2/A-
A

1.08 1.02
857477BR3 STATE STREET CORP 1.746
02/06/2026 437,500.00 02/02/2022

1.75%
437,500.00
437,5

00.00 98.82

5.27%
432,343.26
1,167.03

0.13%
(5,156.74)
A1/A
AA-

1.35 0.34
06051GKM0 BANK OF AMERICA CORP 3.384
04/02/2026 1,875,000.00 03/17/2022

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

99.20 5.80%
1,860,015.75
31,548.75

0.56%
(14,984.25)
A1/A-
AA-

1.50 0.48
6174468Q5 MORGAN STANLEY 2.188
04/28/2026 2,200,000.00
08/24/2
022

4.62%
2,072,268.00
2,171,198.66

98.43 6.17%
2,165,548.15
20,457.80

0.65%
(5,650.51)
A1/A-
A+

1.57 0.56
91324PEC2 UNITEDHEALTH GROUP INC 1.15
05/15/2026 4,000,000.00 09/19/2022

4.16%
3,592,560.00
3,819,221.44

95.60 3.97%
3,824,171.72
17,377.78

1.15%
4,950.28
A2/A+
A

1.62 1.57
87612EBM7 TARGET CORP 1.95 01/15/2027 2,140,000.00 --

1.97%
2,137,844.40
2,139,009.25

96.06 3.76%
2,055,674.01
8,809.67

0.62%
(83,335.25)
A2/A
A

2.29 2.20
808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027 3,500,000.00 01/23/2023

4.35%
3,251,955.00
3,353,789.23

96.04 4.19%
3,361,334.87
6,669.44

1.01%
7,545.64
A2/A-
A

2.42 2.31
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027 2,200,000.00 08/24/2022

3.93%
2,206,402.00
2,203,493.04
100.16

3.93%
2,203,579.47
34,466.67

0.66%

86.43 A2/A+
A+

2.61 2.34
92826CAH5 VISA INC 2.75 09/15/2027 4,000,000.00 03/27/2 024

4.57%
3,769,760.00
3,803,768.59

97.23 3.75%
3,889,051.64
4,888.89

1.17%
85,283.05
Aa3/AA-
NA

2.96 2.80
74340XBV2 PROLOGIS LP 3.375 12/15/2027 3,000,000.00 01/25/2023

4.28%
2,881,530.00
2,922,260.29

97.96 4.06%
2,938,709.64
29,812.50

0.88%
16,449.35
A3/A
NA

3.21 2.97
24422EWR6 JOHN DEERE CAPITAL CORP 4.75
01/20/2028 2,000,000.00 01/20/2023

4.35%
2,035,920.00
2,023,775.80
102.40

3.97%
2,047,986.34
18,736.11

0.62%
24,210.54
A1/A
A+

3.31 3.01
713448FL7 PEPSICO INC 3.6 02/18/2028 2,000,000.00 04/27/2023

4.00%
1 ,964,920.00
1,975,342.17

99.33 3.81%
1,986,667.92
8,600.00

0.60%
11,325.75
A1/A+
NA

3.39 3.14
96 ATTACHMENT A

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
57636QAW4 MASTERCARD INC 4.875
03/09/2028 3,000,000.00 06/13/2024

4.50%
3,037,110.00
3,034,156.80
103.30

3.84%
3,099,072.18
8,937.50

0.93%
64,915.38
Aa3/A+
NA

3.44 3.07
61747YER2 MORGAN STANLEY 4.21
04/20/2028 1,800,000.00 07/31/2023

5.39%
1,729,026.00
1,751,378.37

99.80 4.87%
1,796,341.45
33,890.50

0.54%
44,963.08
A1/A-
A+

3.56 2.35
58933YBH7 MERCK & CO INC 4.05 05/17/2028 2,000,000.00 --

4.03%
2,001,621.20
2,001,164.04
100.84

3.80%
2,016,835.22
30,150.00

0.61%
15,671.18
A1/A+
NA

3.63 3.23
46647PAM8 JPMORGAN CHASE & CO 3.509
01/23/2029 3,000,000.00 02/27/2024

5.19%
2,823,480.00
2,850,131.54

97.66 4.61%
2,929,849.35
19,884.33

0.88%
79,717.81
A1/A-
AA-

4.31 3.07
69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029 3,600,000.00 01/29/2024

4.52%
3,612,132.00
3,610,511.74
102.54

3.95%
3,691,497.46
28,060.00

1.11%
80,985.71
A1/A+
NA

4.34 3.88
857477CN1 STATE STREET CORP 4.53
02/20/2029 2,000,000.00 08/14/2024

4.53%
2,000,000.00
2,000,000.00
101.02

4.56%
2,020
,317.12
10,318.33

0.61%
20,317.12
A1/A
AA-

4.39 3.10
17275RBR2 CISCO SYSTEMS INC 4.85
02/26/2029 3,000,000.00 02/27/2024

4.84%
3,001,560.00
3,001,372.94
103.42

3.99%
3,102,549.66
14,145.83

0.93%
101,176.72
A1/AA-
NA

4.41 3.86
14913UAJ9 CATERPILLAR FINANCIAL SERVICES
CORP 4.85 02/27/2029 4,000,000.00 04/29/2024

5.08%
3,960,640.00
3,964,076.19
103.47

3.98%
4 ,138,794.24
18,322.22

1.24%
174,718.05
A2/A
A+

4.41 3.93
06051GLG2 BANK OF AMERICA CORP 5.202
04/25/2029 2,500,000.00 05/28/2024

5.38%
2,484,025.00
2,485,424.35
102.82

4.77%
2,570,517.90
56,355.00

0.77%
85,093.55
A1/A-
AA-

4.57 3.17
89236TMF9 TOYOTA MOTOR CREDIT CORP

5.05 05/16/2029 2,500,000.00 05/28/2024

5.09%
2,495,600.00
2,495,903.36
103.74

4.15%
2,593,537.43
47,343.75

0.78%
97,634.06
A1/A+
A+

4.62 4.03
57629W4T4 MASSMUTUAL GLOBAL FUNDING
II 5.15 05/30/2029 2,950,000.00 05/22/2024

5.17%
2,947,551.50
2,947,717.77
104.14

4.16%
3,072,267.47
51,063.68

0.92%
124,549.70
Aa3/AA+
AA+

4.66 4.06
437076DC3 HOME DEPOT INC 4.75
06/25/2029 4,000,000.00 07/30/2024

4.58%
4,028,360.00
4,027,360.39
103.07

4.03%
4,122,849.68
50,666.67

1.24%
95,489.29
A2/A
A

4.73 4.10
532457CQ9 ELI LILLY AND CO 4.2 08/14/2029 2,290,000.00 08/12/2 024

4.25%
2,284,984.90
2,285,116.73
100.96

3.98%
2,311,934.60
12,556.83

0.69%
26,817.87
A1/A+
NA

4.87 4.28
Total Corporate 83,977,500.00 3.91%
83,158,199.16
83,205,310.25
100.20

4.29%
84,086,698.26
731,574.98

25.26%
881,388.01
A1/A
A+

2.85 2.43

MONEY MARKET
FUND
60934N104 FEDERATED HRMS GV O INST 675,017.49 --

4.83%
675,017.49
675,017.49

1.00 4.83%
675,017.49

0.00 0.20%

0.00 Aaa/AAAm
AAA

0.00 0.00
97 ATTACHMENT A

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Money Market
Fund 675,017.49 4.83%
675,017.49
675,017.49

1.00 4.83%
675,017.49

0.00 0.20%

0.00 Aaa/AAAm
AAA

0.00 0.00

MUNICIPAL BONDS
13077DNC2 CALIFORNIA ST UNIV REV 0.685
11/01/2024 625,000.00 08/27/2020

0.68%
625,000.00
625,000.00

99.65 4.94%
622,787.50
1,783.85

0.19%
(2,212.50)
Aa2/AA-
NA

0.09 0.08
13067WRB0

CALIFORNIA ST DEPT WTR
RES CENT VY PROJ REV 0.56
12/01/2024
77,500.00 07/30/2020

0.56%
77,500.00
77,500.00

99.30 4.79%
76,956.73
144.67

0.02%
(543.28)
Aa1/AAA
NA

0.17 0.17
91412HGE7 UNIVERSITY CALIF REVS 0.883
05/15/2025 760,000.00 07/10/2020

0.88%
760,000.00
760,000.00

97.90 4.34%
744,040.00
2,535.19

0.22%
(15,960.00)
Aa2/AA
AA

0.62 0.61
341271AD6 FLORIDA ST BRD ADMIN FIN CORP
REV 1.258 07/01/2025 1,875,000.00 09/03/2020

1.17%
1,882,423.50
1,876,150.18

97.61 4.53%
1,830,225.00
5,896.88

0.55%
(45,925.18)
Aa3/AA
AA

0.75 0.73
54438CYK2 LOS ANGELES CALIF CMNTY
COLLEGE DIST 0.773 08/01/2025 965,000.00 10/30/2
020

0.77%
965,000.00
965,000.00

97.15 4.29%
937,507.15
1,243.24

0.28%
(27,492.85)
Aaa/AA+
NA

0.84 0.81
646140DP5 NEW JERSEY ST TPK AUTH TPK
REV 1.047 01/01/2026 557,500.00 01/22/2021

1.05%
557,500.00
557,500.00

96.35 4.07%
537,128.95
1,459.26

0.16%
(20,371.05)
A1/AA-
A+

1.25 1.22
Total Municipal
Bonds 4,860,000.00 0.96%
4,867,423.50
4,861,150.18

97.72 4.46%
4 ,748,645.33
13,063.08

1.43%
(112,504.85)
Aa2/AA
AA

0.71 0.69

NEGOTIABLE CD
96130AWR5 Westpac Banking Corporation -
New York Branch 5.32 03/14/2025 6,000,000.00 03/22/2024

5.30%
6,000,953.46
6,000,438.00
100.32

4.47%
6,019,272.00
174,673.33

1.81%
18,834.00
P-1/A-1+
NA

0.45 0.45
Total Negotiable CD 6,000,000.00 5.30%
6,000,953.46
6,000,438.00
100.32

4.47%
6,019,272.00
174,673.33

1.81%
18,834.00
P-1/A-1+
NA

0.45 0.45

US TREASURY
9128283J7 UNITED STATES TREASURY 2.125
11/30/2024 2,457,500.00 --

1.67%
2,511,903.66
2,459,308.92

99.56 4.77%
2,446,796.43
17,549.97

0.73%
(12,512.49)
Aaa/AA+
AA+

0.17 0.16
912828ZC7 UNITED STATES TREASURY 1.125
02/28/2025 4,472,500.00 08/19/2021

0.53%
4,565,793.56
4,483,356.50

98.65 4.45%
4,411,964.00
4,308.80

1.33%
(71,392.51)
Aaa/AA+
AA+

0.41 0.41
9128
28ZL7 UNITED STATES TREASURY 0.375
04/30/2025 2,997,500.00 04/05/2021

0.70%
2,958,391.99
2,991,939.50

97.76 4.32%
2,930,267.00
4,703.96

0.88%
(61,672.49)
Aaa/AA+
AA+

0.58 0.57
98 ATTACHMENT A

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
912828ZW3 UNITED STATES TREASURY 0.25
06/30/2025 1,597,500.00 10/04/2021

0.70%
1,571,103.81
1,592,232.38

97.16 4.14%
1,552,170.94
1,009.29

0.47%
(40,061.45)
Aaa/AA+
AA+

0.75 0.73
91282CAJ0 UNITED STATES TREASURY 0.25
08/31/2025 7,600,000.00 --

0.56%
7,505,432.49
7,578,716.29

96.61 4.06%
7,342,550.00
1,627.07

2.21%
(236,166.29)
Aaa/AA+
AA+

0.92 0.90
91282CAZ4 UNITED STATES TREASURY 0.375
11/30/2025 6,772,500.00 --

0.93%
6,619,508.79
6,729,157.71

96.05 3.88%
6,505,039.14
8,535.02

1.95%
(224,118.56)
Aaa/AA+
AA+

1.17 1.14
91282CGA3 UNITED STATES TREASURY 4.0
12/15/2025 5,000,000.00 01/23/2024

4.42%
4,962,109.38
4,975,872.83
100.16

3.86%
5,008,007.80
59,016.39

1.50%
32,134.97
Aaa/AA+
AA+

1.21 1.15
91282CBC4 UNITED STATES TREASURY 0.375
12/31/2025 3,100,000.00 01/11/2021

0.49%
3,082,199.22
3,095,527.74

95.81 3.85%
2,970,066.41
2,937.84

0.89%
(125,461.32)
Aaa/AA+
AA+

1.25 1.22
9128286A3 UNITED STATES TREASURY 2.625
01/31/2026 1,707,500.00 02/04/2021

0.46%
1,890,055.76
1,756,295.09

98.49 3.80%
1 ,681,687.40
7,551.51

0.51%
(74,607.69)
Aaa/AA+
AA+

1.34 1.29
91282CBH3 UNITED STATES TREASURY 0.375
01/31/2026 17,305,000.00 --

0.79%
16,971,456.65
17,210,873.41

95.57 3.82%
16,537,766.56
10,933.19

4.97%
(673,106.86)
Aaa/AA+
AA+

1.34 1.30
91282CBQ3 UNITED STATES TREASURY 0.5
02/28/2026 12,670,000.00 --

0.94%
12,43
7,181.06
12,593,695.10

95.52 3.79%
12,101,829.69
5,425.00

3.63%
(491,865.41)
Aaa/AA+
AA+

1.41 1.38
91282CCF6 UNITED STATES TREASURY 0.75
05/31/2026 8,320,000.00 --

0.80%
8,301,545.71
8,313,851.94

95.25 3.72%
7,924,475.02
20,970.49

2.38%
(389,376.92)
Aaa/AA+
AA+

1.67 1.62
91282CCZ2 UNITED STATES TREASURY 0.875
09/30/2026 3,700,000.00 04/05/2022

2.75%
3,406,746.09
3,569,406.17

94.73 3.64%
3,504,882.79

88.94 1.05%
(64,523.38)
Aaa/AA+
AA+

2.00 1.95
912828V98 UNITED STATES TREASURY 2.25
02/15/2027 2,650,000.00 09/30/2022

4.06%
2,458,185.55
2,545,995.54

96.91 3.62%
2,568,222.64
7,615.15

0.77%
22,227.10
Aaa/AA+
AA+

2.38 2.28
91282CBJ9 UNITED STATES TREASURY 0.75
01/31/2028 540,000.00 03/14/2022

2.14%
498,382.03
516,420.36

91.18 3.58%
492,370.32
682.34

0.15%
(24,050.05)
Aaa/AA+
AA+

3.34 3.23
91282CCY5 UNITED STATES TREASURY 1.25
09/30/2028 3,325,000.00 --

3.32%
3 ,058,576.17
3,070,189.27

91.38 3.58%
3,038,478.50
114.18

0.91%
(31,710.77)
Aaa/AA+
AA+

4.00 3.84
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029 7,000,000.00 03/27/2024

4.20%
6,940,117.19
6,946,443.79
101.69

3.58%
7,118,125.00
47,173.91

2.14%
171,681.21
Aaa/AA+
AA+

4.34 3.93
9128286B1 UNITED STATES TREASURY 2.625
02/15/2029 7,000,000.00 --

4.06%
6,525,214.84
6,611,390.96

96.15 3.58%
6,730,664.08
23,468.07

2.02%
119,273.12
Aaa/AA+
AA+

4.38 4.07
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029 6,500,000.00 06/13/2024

4.25%
6,572,617.19
6,568
,362.12
104.00

3.56%
6,760,000.00
98,299.18

2.03%
191,637.88
Aaa/AA+
AA+

4.67 4.13
912828YB0 UNITED STATES TREASURY 1.625
08/15/2029 7,600,000.00 --

3.42%
6,985,504.69
6,993,863.61

91.46 3.55%
6,951,328.14
15,773.10

2.09%
(42,535.47)
Aaa/AA+
AA+

4.87 4.60
99 ATTACHMENT A

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CGJ4 UNITED STATES TREASURY 3.5
01/31/2030 6,700,000.00 --

4.02%
6,511,839.85
6,540,926.37

99.50 3.60%
6,666,500.00
39,508.15

2.00%
125,573.63
Aaa/AA+
AA+

5.34 4.79
912828Z94 UNITED STATES TREASURY 1.5
02/15/2030 542,500.00 04/06/2022

2.65%
498,040.43
512,059.08

89.79 3.61%
487,126.86
1,039.30

0.15%
(24,932.22)
Aaa/AA+
AA+

5.38 5.07
91282CAE1 UNITED STATES TREASURY 0.625
08/15/2030 587,500.00 04/06/2022

2.63%
498,755.37
525,075.95

84.27 3.62%
495,106.45
468.96

0.15%
(29,969.50)
Aaa/AA+
AA+

5.87 5.66
91282CBL4 UNITED STATES TREASURY 1.125
02/15/2031 565,000.00 04/06/2022

2.62%
498,104.88
516,815.64

85.99 3.60%
485,855.86
811.80

0.15%
(30,959.78)
Aaa/AA+
AA+

6.38 6.03
912810FP8 UNITED STATES TREASURY 5.375
02/15/2031 6,000,000.00 --

4.27%
6,403,066.41
6,361,789.31
110.16

3.58%
6,609,609.36
41,188.86

1.99%
247,820.05
Aaa/AA+
AA+

6.38 5.40
91282CCS8 UNITED STATES TREASURY 1.25
08/15/2031 562,500.00 04/06/2022

2.62%
498,515.62
515,463.14

85.40 3.67%
4 80,388.19
898.01

0.14%
(35,074.96)
Aaa/AA+
AA+

6.87 6.45
91282CFV8 UNITED STATES TREASURY 4.125
11/15/2032 6,000,000.00 --

3.72%
6,197,734.38
6,163,732.25
102.86

3.71%
6,171,796.86
93,485.05

1.85%
8,064.61
Aaa/AA+
AA+

8.13 6.77
91282CHT1 UNITED STATES TREASURY 3.875
08/15/2033 6,500,000.00 --

4.73%
6,069
,570.31
6,110,079.30
100.80

3.77%
6,552,304.72
32,168.82

1.97%
442,225.42
Aaa/AA+
AA+

8.87 7.42
Total US Treasury 139,772,500.00 2.42%
136,997,653.08
137,848,840.29

97.87 3.78%
136,525,380.16
547,352.36

41.01%
(1,323,460.13)
Aaa/AA+
AA+

3.18 2.87
Total Portfolio 337,675,908.77 2.99%
332,303,367.46
333,613,995.24

98.55 4.01%
332,931,512.80
1,864,765.68
100.00%
(682,482.44)
Aa2/AA-
AA

3.14 2.68
Total Market Value +
Accrued 334,796,278.47
100

ATTACHMENT A

HOLDINGS REPORT
City of Stockton Enhanced Cash | Account #11194 | As of September 30, 2024 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CASH
CCYUSD Receivable 4,240.26 --

0.00%
4,240.26
4,240.26

1.00 0.00%
4,240.26

0.00 0.01%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 4,240.26 0.00%
4,240.26
4,240.26

1.00 0.00%
4,240.26

0.00 0.01%

0.00 Aaa/AAA
AAA

0.00 0.00

COMMERCIAL
PAPER
62479LKM6 MUFG Bank, Ltd. - New York
Branch 10/21/2024 7,000,000.00 05/23/2024

5.48%
6,842,918.06
6,979,194.45

99.72 5.06%
6,980,386.00

0.00 22.90%
1,191.56
P-1/A-1
NA

0.06 0.05
Total Commercial
Paper 7,000,000.00 5.48%
6,842,918.06
6,979,194.45

99.72 5.06%
6,980,386.00

0.00 22.90%
1,191.56
P-1/A-1
NA

0.06 0.05

MONEY MARKET
FUND
60934N104 FEDERATED HRMS GV O INST 7,788.38 --

4.83%
7,788.38
7,788.38

1.00 4.83%
7,788.38

0.00 0.03%

0.00 Aaa/AAAm
AAA

0.00 0.00
Total Money Market
Fund 7,788.38 4.83%
7,788.38
7,788.38

1.00 4.83%
7,788.38

0.00 0.03%

0.00 Aaa/AAAm
AAA

0.00 0.00
N

EGOTIABLE CD
06417M5J0 Bank of Nova Scotia, Houston
Branch 6.0 10/18/2024 2,315,000.00 05/23/2024

5.44%
2,318,380.50
2,315,388.30
100.04

4.79%
2,316,016.29
134,270.00

7.60%
627.99
P-1/A-1
F1+

0.05 0.05
Total Negotiable CD 2,315,000.00 5.44%
2,318,380.50
2,315,388.30
100.04

4.79%
2,316,016.29
134,270.00

7.60%
6 27.99
P-1/A-1
F1+

0.05 0.05

US TREASURY
912797KV8 UNITED STATES TREASURY
10/24/2024 5,000,000.00 07/29/2024

5.29%
4,938,396.53
4,983,524.65

99.70 4.80%
4,984,914.25

0.00 16.35%
1,389.60
P-1/A-1+
F1+

0.07 0.06
912797MA2 UNITED STATES TREASURY
11/05/2024 4,730,000.00 08/29/2024

5.13%
4,685,202.70
4,706,942.57

99.55 4.73%
4,708,635.63

0.00 15.45%
1,693.06
P-1/A-1+
F1+

0.10 0.10
101

ATTACHMENT A

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
912797LC9 UNITED STATES TREASURY
11/07/2024 6,200,000.00 06/14/2024

5.33%
6,073,262.99
6,167,207.91

99.52 4.79%
6,170,064.91

0.00 20.24%
2,857.01
P-1/A-1+
F1+

0.10 0.10
912797LD7 UNITED STATES TREASURY
11/14/2024 5,340,000.00 09/25/2024

4.64%
5,306,965.43
5,310,336.30

99.43 4.75%
5,309,585.71

0.00 17.42%
(750.59)
P-1/A-1+
F1+

0.12 0.12
Total US Treasury 21,270,000.00 5.10%
21,003,827.65
21,168,011.43

99.54 4.77%
21,173,200.50

0.00 69.46%
5,189.07
P-1/A-1+
F1+

0.10 0.10
Total Portfolio 30,597,028.64 5.22%
30,177,154.85
30,474,622.81

99.58 4.84%
30,481,631.43
134,270.00
100.00%
7,008.61
Aaa/AA
AAA

0.09 0.08
Total Market Value +
Accrued 30,615,901.43
102

ATTACHMENT A

TRANSACTIONS
103

ATTACHMENT A

ACQUISITIONS
Purchase 07/24/2024 44934QAD3 910,000.00 HART 2024-B A3 4.84 03/15/2029 99.985 5.45% (909,862.68) 0.00 (909,862.68) 0.00 Purchase 07/31/2024 3130B1BC0 1,900,000.00 FEDERAL HOME LOAN BANKS 4.625 06/08/2029 102.282 4.10% (1,943,358.00) (21,480.56) (1,964,838.56) 0.00 Purchase 07/31/2024 437076DC3 4,000,000.00 HOME DEPOT INC 4.75 06/25/2029 100.709 4.58% (4,028,360.00) (19,000.00) (4,047,360.00) 0.00 Purchase 08/13/2024 880591FB3 1,845,000.00

TENNESSEE VALLEY
AUTHORITY 4.375
08/01/2034

99.109 4.49% (1,828,561.05) 0.00 (1,828,561.05) 0.00
Purchase 08/14/2024 532457CQ9 2,290,000.00 ELI LILLY AND CO 4.2 08/14/2029 99.781 4.25% (2,284,984.90) 0.00 (2,284,984.90) 0.00 Purchase 08/20/2024 857477CN1 2,000,000.00 STATE STREET CORP 4.53 02/20/2029 100.000 4.53% (2,000,000.00) 0.00 (2,000,000.00) 0.00 Purchase 08/21/2024 43813YAC6 2,040,000.00 HAROT 2024-3 A3 4.57 03/21/2029 99.984 4.66% (2,039,679.52) 0.00 (2,039,679.52) 0.00 Purchase 08/30/2024 9128286B1 500,000.00 UNITED STATES TREASURY

2.625 02/15/2029 95.539 3.72% (477,695.31) (534.99) (478,230.30) 0.00 Purchase 09/30/2024 912828YB0 7,080,000.00 UNITED STATES TREASURY

1.625 08/15/2029 91.652 3.50% ( 6,488,985.94) (14,381.25) (6,503,367.19) 0.00 Purchase 09/30/2024 91282CCY5 2,800,000.00 UNITED STATES TREASURY

1.25 09/30/2028 91.535 3.54% (2,562,984.38) 0.00 (2,562,984.38) 0.00 Total Purchase 25,365,000.00 (24,564,471.78) (55,396.80) (24,619,868.58) 0.00 TOTAL
ACQUISITIONS 25,365,000.00 (24,5
64,471.78) (55,396.80) (24,619,868.58) 0.00

DISPOSITIONS
Call Redemption 08/09/2024 46647PCM6 (1,680,000.00) JPMORGAN CHASE & CO

0.768 08/09/2025 100.000 0.77% 1,680,000.00 0.00 1,680,000.00 0.00 Total Call
Redemption (1,680,000.00) 1,680,000.00 0.00 1,680,000.00 0.00 Maturity 07/08/2024 931142EL3 (4,100,000.00) WALMART INC 2.85 07/08/2024 100.000 2.85% 4,100,000.00 0.00 4,100,000.00 0.00 104

ATTACHMENT A

TRANSACTION LEDGER
City of Stockton Reserve | Account #10020|07/01/2024 Through 09/30/2024| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest
Pur/Sold Total Amount Gain/Loss
Maturity 07/30/2024 91159HHX1 (1,650,000.00) US BANCORP 2.4 07/30/2024 100.000 2.40% 1,650,000.00 0.00 1,650,000.00 0.00 Maturity 08/01/2024 574193TQ1 (647,500.00) MARYLAND ST 0.51 08/01/2024 100.000 0.51% 647,500.00 0.00 647,500.00 0.00 Maturity 08/01/2024 797272QP9 (725,000.00)

SAN DIEGO CALIF CMNTY
COLLEGE DIST 2.046
08/01/2024
100.000 2.05% 725,000.00 0.00 725,000.00 0.00
Maturity 08/31/2024 9128282U3 (2,237,500.00) UNITED STATES TREASURY

1.875 08/31/2024 100.000 1.88% 2,237,500.00 0.00 2,237,500.00 0.00 Maturity 09/15/2024 254683CP8 (797,500.00) DCENT 2021-1 A 0.58 09/15/2024 100.000 0.29% 0.00 0.00 0.00 0.00
Maturity 09/15/2024 91282CCX7 (1,577,500.00) UNITED STATES TREASURY

0.375 09/15/2024 100.000 0.38% 1,577,500.00 0.00 1,577,500.00 0.00 Maturity 09/23/2024 4581X0DZ8 (4,190,000.00)

INTER-AMERICAN
DEVELOPMENT BANK 0.5
09/23/2024
100.000 0.50% 4,190,000.00 0.00 4,190,000.00 0.00
Total Maturity (15,925,000.00) 15,127,500.00 0.00 15,127,500.00 0.00 Sale 08/14/2024 3135G0X24 (4,380,000.00)

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

1.625 01/07/2025

98.650 0.85% 4,320,870.00 7,315.21 4,328,185.21 (72,555.83) Total Sale (4,38 0,000.00) 4,320,870.00 7,315.21 4,328,185.21 (72,555.83) TOTAL
DISPOSITIONS (21,985,000.00) 21,128,370.00 7,315.21 21,135,685.21 (72,555.83) 105

ATTACHMENT A

TRANSACTION LEDGER
City of Stockton Enhanced Cash | Account #11194|07/01/2024 Through 09/30/2024| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest
Pur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 07/30/2024 912797KV8 5,000,000.00 UNITED STATES TREASURY 10/24/2024 98.768 5.29% (4,938,396.53) 0.00 (4,938,396.53) 0.00 Purchase 08/29/2024 912797MA2 4,730,000.00 UNITED STATES TREASURY 11/05/2024 99.053 5.13% (4,685,202.70) 0.00 (4,685,202.70) 0.00 Purchase 09/26/2024 912797LD7 5,340,000.00 UNITED STATES TREASURY 11/14/2024 99.381 4.64% (5,306,965.43) 0.00 (5,306,965.43) 0.00 Total Purchase 15,070,000.00 (14,930,564.66) 0.00 (14,930,564.66) 0.00 TOTAL
ACQUISITIONS 15,070,000.00 (14,930,564.66) 0.00 (14,930,564.66) 0.00

DISPOSITIONS
Maturity 07/19/2024 59515MGK5 (5,000,000.00) Microsoft Corporation 07/19/2024 100.000 0.00% 5,000,000.00 0.00 5,000,000.00 0.00 Maturity 08/22/2024 912797KC0 (4,600,000.00) UNITED STATES TREASURY 08/22/2024 100.000 0.00% 4,600,000.00 0.00 4,600,000.00 0.00 Maturity 09/20/2024 89115BAM2 (5,000,000.00)
Toronto-Dominion Bank
- New York Branch 6.0
09/20/2024
100.000 6.00% 5,000,000.00 0.00 5,000,000.00 0.00
Total Maturity (14,600,000.00) 14,600,000.00 0.00 14,600,000.00 0.00 TOTAL
DISPOSITIONS (14,600,000.00) 14,600,000.00 0.00 14,600,000.00 0.00 106

ATTACHMENT A

IMPORTANT DISCLOSURES
City of Stockton Reserve | Account #10020 | As of September 30, 2024 2024 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.

Information contained herein is confidential. Prices are provided by ICE Data Services Inc (“IDS”), an independent pricing source. In the event IDS does not provide 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 with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance results are presented 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 and other earnings. Past performance may not be indicative of 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 may materially alter the performance and results 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 in an index.

Source ICE Data In dices, LLC (“ICE”), used with permission. ICE permits use of the ICE indices and related data on an “as is” basis; ICE, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliates or their respective third party providers guarantee the quality, adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and licensee’s use it at licensee’s own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend chandler asset management, or any of its products or services.

This report is provided for informational purposes only and should not be construed as a specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice. Any opinions or views expressed are based on current market conditions and are subject to change. This report may contain forecasts and forward-looking statements which are inherently limited and should not 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 inves tments 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 able to repay interest and principal. Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk. Market risk: the bond market in general could decline due to economic conditions, especially during periods of rising interest rates.

Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P, Moody’s and Fitch respectively. 107

ATTACHMENT A

BENCHMARK DISCLOSURES
City of Stockton Reserve | Account #10020 | As of September 30, 2024 Benchmark Disclosure
ICE BofA 1-5 Year Gov/Corp A or better
The ICE BofA US Issuers 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, and corporate securities. Qualifying securities must be issued from US issuers and be rated AAA through A3 (based on an average of Moody’s, S&P and Fitch). In addition, qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to final maturity at point of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for US Treasuries and $250 million for all other securities.

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 nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies. 108

ATTACHMENT A

City Council and Concurrent AuthoritiesDecember 10, 2024

City Council and Concurrent Authorities
December 10, 2024