Agenda packet — Vallejo City Council, May 12, 2026 (part 1 of 5)

HYBRID MEETING
www.Cityofvallejo.net

CALL AND NOTICE OF REGULAR
MEETING AT 7:00 PM OF THE

VALLEJO CITY COUNCIL

MAY 12, 2026

Council Chambers
555 Santa Clara Street
Vallejo, CA 94590

COUNCIL MEMBERS
Andrea Sorce (Mayor)
Diosdado "JR" Matulac (Vice Mayor)
Peter Bregenzer
Helen-Marie Gordon
Tonia Lediju, PhD
Alexander Matias
Charles Palmares

NOTICE: Members of the Public will be able to participate in-person or remotely via Zoom
City Hall and the Council Chambers will be open to
members of the public 30 minutes prior to the start of
the meeting.

PUBLIC COMMENT: Members of the Public may provide
public comments during the City Council Meeting in
person or via ZOOM
(https://ZoomRegular.Cityofvallejo.net), or via
phone, by dialing (669) 900-6833.

For additional instructions on how to speak remotely
during public comment, please
visit, www.cityofvallejo.net/publiccomment
VIEW THE MEETING:

There are four different ways you can view this public meeting:
• In Person
• Watch Vallejo local channel 28
• Stream from the City
website: www.cityofvallejo.net/Streaming
• Join the Zoom webinar:
https://ZoomRegular.Cityofvallejo.net
Scan QR code for live captions and translation in Spanish and Tagalog.

Hybrid Options are available for members of the public to participate. To participate remotely

Option to Join by Computer
From your browser go to https://ZoomRegular.CityofVallejo.net to launch and join the zoom application.

Meeting ID: 914 0075 0676#
Meeting Password: 131313
Option to Join by Phone
Dial (669) 900-6833
Enter Meeting ID: 914 0075 0676#
Meeting Password: 131313
Press *9 to digitally raise your hand from the phone.

Press *6 to unmute/mute

Any supplemental writing related to an agenda item for an open session of a regular meeting that is distributed to all or a majority of all members of the City Council less than 72 hours before the meeting will be posted concurrently on the City’s website at www.cityofvallejo.net/agendas Written material distributed during the meeting, will be available at the meeting if prepared by the City or after the meeting if prepared by someone else. Such materials may be obtained from the City Clerk

Vallejo City Council Chambers ADA compliant. Devices for the hearing impaired are available from the City Clerk. Requests for disability related modifications or accommodations, aids or services may be made by a person with a disability to the City Clerk's office no less than 72 hours prior to the meeting as required by Section 202 of the Americans with Disabilities Act of 1990 and the federal rules and regulations adopted in implementation thereof

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AGENDA

1. CALL TO ORDER

2. ROLL CALL

3. PLEDGE OF ALLEGIANCE

4. REPORT OUT OF CLOSED SESSION

5. PRESENTATIONS AND COMMENDATIONS
A. VALLEJO YOUTH DELEGATION TO WASHINGTON, DC. PRESENTATION B. VALLEJO ENVIRONMENTAL LEADERSHIP FELLOWSHIP

PRESENTATIONS

6. FIRST COMMUNITY FORUM
The Community Forum is an opportunity to address the Council on any matter for which another opportunity to speak is not provided on the agenda, and which is within the jurisdiction of the Council to resolve. Any interested members of the public desiring to communicate with the City Council as part of the First Community Forum may do so in person by signing in to the Public Speaker's kiosk located in the back of the Council Chambers or via ZOOM:(https://ZoomRegular.Cityofvallejo.net), Option to join by phone: Dial (669) 900- 6833. Enter Meeting ID: 914 0075 0676#. Press * 9 to digitally raise your hand from the phone. Press *6 to unmute/mute. For additional instructions on how to speak remotely during public comment, please visit, www.cityofvallejo.net/publiccomment. In person speakers will be recognized first. When called upon, each speaker should step to the podium, state his/her name for the record. The conduct of the community forum shall be limited to a maximum of fifteen (15) minutes, with each speaker limited to a maximum of three minutes pursuant to Vallejo Municipal Code Section 2.02.300.

7. PUBLIC COMMENT REGARDING CONSENT CALENDAR ITEMS
Members of the public wishing to address the Council on Consent Calendar items may do so in person by signing in to the Public Speaker's kiosk located in the back of the Council Chambers or via ZOOM:(https://ZoomRegular.Cityofvallejo.net), Option to join by phone: Dial (669) 900-6833. Enter Meeting ID: 914 0075 0676#. Press * 9 to digitally raise your hand from the phone. Press *6 to unmute/mute. For additional instructions on how to speak remotely during public comment, please visit, www.cityofvallejo.net/publiccomment. In person speakers will be recognized first. Each speaker is limited to three minutes pursuant to Vallejo Municipal Code Section 2.02.310. Requests for removal of Consent Items received from the public are subject to approval by a majority vote of the Council. Items removed from the Consent Calendar will be heard immediately after approval of the Consent Calendar and Agenda.

8. CONSENT CALENDAR AND APPROVAL OF AGENDA
A. APPROVAL OF MINUTES
Recommendation: Approve minutes for the special meetings of April 20 and April 23, 2026
Contact: Dawn G. Abrahamson, MMC, City Clerk (707) 648-4527 [email protected]

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B. WAIVE READING AND AUTHORIZING INTRODUCTIONS AND/OR

ADOPTION OF ORDINANCES BY TITLE ONLY
Recommendation: Waive reading and authorize introductions and/or adoption of any and all ordinances on this agenda, if any, by title only. This is a standard procedural action so the City Council does not have to read an ordinance in its entirety.

Contact: Dawn G. Abrahamson, MMC, City Clerk (707) 648-4527 [email protected]
C. CITY TREASURER’S QUARTERLY INVESTMENT REPORT
Recommendation: Accept the City Treasurer’s Investment Report for the quarter ended March 31, 2026
Contact: Florita Cruz, Assistant Finance Director, (707) 648-5542 [email protected]
D. ADOPT A RESOLUTION AMENDING THE FUND 149 FISCAL YEAR 2025– 2026 BUDGET TO RECOGNIZE $1,995,873 OF CALVIP COHORT 5 GRANT

REVENUE FROM THE BOARD OF STATE AND COMMUNITY

CORRECTIONS AND TO APPROPRIATE CORRESPONDING
EXPENDITURES (STEP 2 OF 2)
Recommendation: As the second in a two-step process, adopt a Resolution amending the Fund 149 Fiscal Year 2025-2026 budget to recognize $1,995,873 of CalVIP Cohort 5 Grant (“CalVIP Grant”) revenue from the Board of State and Community Corrections (“BSCC”) and to appropriate corresponding expenditures.

Contact: Jason Ta, Chief of Police
[email protected]
E. ADOPT A RESOLUTION RECEIVING AND FILING THE ANNUAL MEASURE

P AND SINGLE AUDIT REPORTS FOR THE FISCAL YEAR ENDED JUNE 30, 2025
Recommendation: Adopt a resolution to receive and file the Annual Measure P and Single Audit reports for the fiscal year ended June 30, 2025.

Contact: Florita Cruz, Assistant Finance Director (707) 648-5542 [email protected]
F. ADOPT A RESOLUTION APPROVING THE FIFTH AMENDMENT TO THE

LEASE BETWEEN THE CITY OF VALLEJO AND MARE ISLAND BREWING CO. LLC AT THE FERRY BUILDING FOR THE PURPOSE OF CONSENTING

TO A SUBLEASE AGREEMENT BY AND BETWEEN THE SAN FRANCISCO

BAY AREA WATER EMERGENCY TRANSPORTATION AUTHORITY
(WETA), MARE ISLAND BREWING CO. LLC (MIBC), AND VALLEJO

CONVENTION AND VISITORS BUREAU (VISIT VALLEJO) AND

AUTHORIZING THE CITY MANAGER TO EXECUTE SAME
Recommendation:

Adopt a Resolution approving the Fifth Amendment to the Lease between the City of Vallejo and the Mare Island Brewing Co. LLC (MIBC) for the purpose of consenting to the sublease agreement by and between the San Francisco

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Water Emergency Transportation Authority (WETA), Mare Island Brewing Co.

LLC (MIBC), and Vallejo Convention and Visitors Bureau (Vist Vallejo) and authorizing the City Manager to execute same.

Contact: Brad Paul, Interim Economic Development Director (707) 648-4109 [email protected]
G. ADOPT A RESOLUTION APPROVING A NEW SUBDIVISION
IMPROVEMENT AGREEMENT FOR FAIRVIEW AT NORTHGATE, PHASE 1,

AND THE CONSTRUCTION PLANS FOR THE FAIRVIEW AT NORTHGATE

BLUE ROCK SPRINGS CREEK BRIDGE AND ADMIRAL CALLAGHAN

LANE & TURNER PARKWAY, VALLEJO CALIFORNIA
Recommendation: Adopt a Resolution approving a new Subdivision Improvement Agreement for Fairview at Northgate, Phase 1, and the construction plans for the Fairview at Northgate Blue Rock Springs Creek Bridge and Admiral Callaghan Lane & Turner Parkway, Vallejo, California.

Contact: Brad Job, Public Works Director (707) 648-4433 [email protected]
H. ADOPT A RESOLUTION AUTHORIZING UP-TO $50,000 FOR EMERGENCY

ANIMAL CONTROL VETERINARY COSTS
Recommendation: Adopt a resolution authorizing a not-to-exceed amount of $50,000 for emergency veterinary services paid to Solano County.

Contact: Jason Ackley, Assistant to the City Manager (707) 648-4577 [email protected]
I. ADOPT A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

VALLEJO APPROVING A THREE-YEAR MEMORANDUM OF

UNDERSTANDING BETWEEN COMMUNITY ACTION PARTNERSHIP

SOLANO, JOINT POWERS AUTHORITY AND SOLANO COUNTY, BENICIA,

FAIRFIELD, RIO VISTA, SUISUN CITY, VACAVILLE, AND VALLEJO TO

PARTIALLY FUND THE COORDINATED ENTRY SYSTEM ADDRESSING
HOMELESSNESS FROM DECEMBER 1, 2025 THROUGH DECEMBER 31, 2028 AND AUTHORIZE CITY MANAGER TO EXECUTE SAME
Recommendation: Adopt a resolution of the City Council of the City of Vallejo approving a three-year memorandum of understanding between Community Action Partnership Solano, Joint Powers Authority and Solano County, Benicia, Fairfield, Rio Vista, Suisun City, Vacaville and Callejo to partially fund the Coordinated Entry System addressing homelessness from December 1, 2025 through December 31, 2028.

Contact: Natalie Peterson, Assistant to the City Manager [email protected]
J. ADOPT A RESOLUTION APPROVING A MEMORANDUM OF

UNDERSTANDING (MOU) BETWEEN THE CITY OF VALLEJO AND THE

VALLEJO FLOOD AND WASTEWATER DISTRICT, SPECIFICALLY

OUTLINING THE DUTIES AND RESPONSIBILITIES OF EACH AGENCY

RELATED TO COMPLIANCE WITH THE MUNICIPAL REGIONAL

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STORMWATER PERMIT ISSUED BY THE STATE AND AUTHORIZING THE

CITY MANAGER TO EXECUTE SAME
Recommendation: Adopt a Resolution approving a Memorandum of Understanding (MOU) between the City of Vallejo and the Vallejo Flood and Wastewater District, specifically outlining the duties and responsibilities of each agency related to compliance with the Municipal Regional Stormwater Discharge Permit issued by the State and authorizing the City Manager to execute same.

Contact: Brad Job, Public Works Director707) 648-4105
[email protected]

9. ACTION CALENDAR
NOTICE: Members of the public wishing to address the Council on Action Calendar Items may do so in person by signing in to the Public Speaker's kiosk located in the back of the Council Chambers or via ZOOM (https://ZoomRegular.Cityofvallejo.net), or via phone, by dialing (669) 900-6833. Enter Meeting ID: 914 0075 0676#. Press *9 to digitally raise your hand from the phone. Press *6 to unmute/mute. For additional instructions on how to speak remotely during public comment, please visit, www.cityofvallejo.net/publiccomment. Each speaker is limited to five minutes pursuant to Vallejo Municipal Code Section 2.02.420 or as approved and announced by the Mayor. In person speakers will be recognized first
A. RECEIVE AN UPDATE ON ECONOMIC DEVELOPMENT DEPARTMENT (EDD ACTIVITIES) AND RECOMMEND TO UNFREEZE THE SECRETARY

AND ECONOMIC DEVELOPMENT PROGRAM MANAGER IN ORDER TO

IMPLEMENT THE DEPARTMENT WORKPLAN AND ED STRATEGIC PLAN (EDSP)
Recommendation: Receive an update on Economic Development (EDD Activities) and recommend to unfreeze the Secretary and Economic Development Program Manager in order to implement the Department Workplan and ED Strategic Plan (EDSP)
Contact: Brad Paul, Interim Economic Development Director [email protected]
B. REQUEST AUTHORIZATION TO PROCEED WITH 6TH STREET ACCESS

ROAD REPAVING
Recommendation: Request authorization to proceed with 6th Street access road repaving design.

Contact: Brad Job, Public Works Director (707) 648-4433 [email protected]
C. ADOPT A RESOLUTION APPROVING A MEASURE P GRANT AGREEMENT

TO GREATER VALLEJO RECREATION DISTRICT TO SUPPORT PUBLIC

SAFETY AND YOUTH PRIORITIES AND AUTHORIZE THE CITY MANAGER TO EXECUTE THE SAME IN AN AMOUNT NOT TO EXCEED $300,000.00.

Recommendation: Adopt a resolution approving a Measure P Grant Agreement to Greater Vallejo Recreation District to support Public Safety and Youth Priorities and authorize the City Manager to execute the same in an amount not to exceed $300,000.00.

Contact: Gillian Haen, Assistant City Manager (707)648-4163 [email protected]

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D. ADOPT A RESOLUTION APPROVING A SECOND AMENDMENT TO THE

CONSULTANT AND PROFESSIONAL SERVICES AGREEMENT WITH
4LEAF, INC. TO INCREASE THE EXISTING NOT TO EXCEED AMOUNT FROM $950,000 TO $1,581,000 AND EXTEND THE TERM THROUGH JUNE 30, 2028, AND AUTHORIZING THE CITY MANAGER TO EXECUTE SAME; AND PROVIDING NOTICE OF INTENT TO AMEND THE FISCAL YEAR 2025- 2026 GENERAL FUND BUDGET IN THE AMOUNT OF $631,000 TO COVER THE COST OF SERVICES (STEP 1 OF 2)
Recommendation:

Adopt a Resolution approving a Second Amendment to the Consultant and Professional Services Agreement with 4LEAF, Inc. to increase the existing not to exceed amount from $950,000 to $1,581,000 and extend the term through June 30, 2028, and authorizing the City Manager to execute same. This action also includes providing notice of intent (as the first step in a two-step process) to amend the Fiscal Year 2025-2026 General Fund budget to correct the budget allocation previously approved and to appropriate expenditures in the amount of $631,000.

Contact: Kristin Pollot, AICP, Planning & Development Services Director [email protected]
E. ADOPT A RESOLUTION PROVIDING DIRECTION TO STAFF AFTER

CONSIDERING THE PROPOSED AMENDMENTS TO THE VALLEJO FLOOD

AND WASTEWATER DISTRICT GOVERNANCE STRUCTURE
Recommendation: Staff recommends that the City Council review the proposed legislative language regarding the Vallejo Flood and Wastewater District governance structure and provide direction to staff on one of the following options: (1) support the proposal as drafted, (2) support the proposal with recommended amendments, (3) do not support the proposal, or (4) take no formal position and provide comments for informational purposes only. Staff will transmit the City Council’s direction, if any, to the Vallejo Flood and Wastewater District and/or other relevant stakeholders as appropriate.

Contact: Sidney Wilson, Administrative Analyst (707) 648-4576 [email protected]

10. INFORMATION CALENDAR

11. CITY MANAGER’S REPORT

12. CITY ATTORNEY’S REPORT

13. COMMUNITY FORUM
Any interested members of the public desiring to communicate with the City Council as part of the last Community Forum may do so in person by signing in to the Public Speaker's kiosk located in the back of the Council Chambers or via ZOOM:(https://ZoomRegular.Cityofvallejo.net), Option to join by phone: Dial (669) 900-6833. Enter Meeting ID: 914 0075 0676#. Press * 9 to digitally raise your hand from the phone. Press *6 to unmute/mute. For additional instructions on how to speak remotely during public comment, please visit, www.cityofvallejo.net/publiccomment. In person speakers will be recognized first.

14. REQUEST & ACTIONS FOR FUTURE AGENDA ITEMS OR SPECIAL PROJECTS

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15. REPORT OF THE PRESIDING OFFICER AND MEMBERS OF THE CITY COUNCIL

16. ADJOURNMENT

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ADDITIONAL CITY INFORMATION
Members of the public can:
• Like us on Facebook and Instagram (@cityofvallejo)
• Sign up to receive City Communications via e-mail (www.cityofvallejo.net/subscribe) • Sign up for emergency alerts at: alertsolano.com
Dated: Wednesday, May 6, 2026
Andrea Sorce, Mayor
I, Dawn Abrahamson, City Clerk do hereby certify that I have caused a true copy of the above notice and agenda to be delivered to

Andrea Sorce (Mayor)
Diosdado "JR" Matulac (Vice Mayor)
Peter Bregenzer
Helen-Marie Gordon
Tonia Lediju, PhD
Alexander Matias
Charles Palmares,

at the time and in the manner prescribed by law and that this agenda was posted at City Hall, 555 Santa Clara Street, CA at 3:45 p.m., Wednesday, May 6, 2026.

Dated: Wednesday, May 6, 2026

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Special City Council Meeting Minutes
April 20, 2026
Page | 1

VALLEJO CITY COUNCIL

SPECIAL MEETING MINUTES
APRIL 20, 2026

COUNCIL CHAMBERS
555 Santa Clara Street, Vallejo, California

1. CALL TO ORDER

The meeting was called to order at 5:03 p.m.

2. ROLL CALL

Present: Mayor Sorce, Vice Mayor Matulac, Councilmembers Bregenzer, Gordon, Lediju (arrived during Closed Session), Matias, and Palmares

Absent: None
Staff present: Acting City Manager Haen, Assistant City Manager Conley and City Attorney Nebb

The Council convened into Closed Session in the Law Library at 5:06 p.m.

3. CLOSED SESSION
A. CONFERENCE WITH LEGAL COUNSEL-EXISTING LITIGATION: Pursuant to Government Code Section 54956.9 (d)(1)
Name of Case: Taki dba Cigarette City v. City of Vallejo, Case No. CU25-08261 B. CONFERENCE WITH LEGAL COUNSEL-EXISTING LITIGATION: Pursuant to Government Code Section 54956.9 (d)(1)
Name of Case: Himayat Hotaki dba Cigarettes for Less & Check Cashing v. City of Vallejo, Case No. CU25-09788
C. CONFERENCE WITH LEGAL COUNSEL-EXISTING LITIGATION: Pursuant to Government Code Section 54956.9 (d)(1)
Name of Case: Kimberly Madkins v. City of Vallejo et al., Case No. CU24-03517 D. CONFERENCE WITH LABOR NEGOTIATORS Pursuant to Government Code Section 54957.6
Agency Designated Representatives: Gillian Haen, Acting City Manager; Nalungo Conley, Assistant City Manager; and Stephanie Sifuentes, Human Resources Director
Employee Organizations: Vallejo Police Officers Association (VPOA), International Association of Firefighters, Local 1186 (IAFF), Confidential, Administrative, Managerial, Professional Association (CAMP), and Unrepresented Employees
E. PUBLIC EMPLOYEE EMPLOYMENT
Pursuant to Government Code Section 54957(b)
Title: Interim City Manager

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Special City Council Meeting Minutes
April 20, 2026
Page | 2
The Council convened into open session in the Council Chambers at 10:09 p.m.

City Attorney Nebb reported the following:

• Closed Session Item 3A, 3B and 3C – Council provided direction to its legal counsel. There is no further action to report.
• Closed Session Item 3D – Item was not heard this evening and there is no action to report.
• Closed Session Item 3E – Council provided direction to its agency representative and there is no further action to report.

4. ADJOURNMENT

The meeting adjourned at 10:11 p.m.

________________________________

ANDREA SORCE, MAYOR

ATTEST:

_________________________________
DAWN G. ABRAHAMSON, CITY CLERK

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Special City Council Meeting Minutes
April 23, 2026
Page | 1

VALLEJO CITY COUNCIL

SPECIAL MEETING MINUTES
April 23, 2026

THE VALLEJO ROOM (Lower Level of the JFK Library)
505 Santa Clara Street, Vallejo, California

1. CALL TO ORDER

The meeting was called to order at 6:35 p.m.

2. ROLL CALL

Present: Mayor Sorce, Vice Mayor Matulac, Councilmembers Bregenzer, Gordon, Lediju (arrived during Closed Session) and Matias

Absent: Councilmember Palmares
Staff present: City Attorney Nebb

The Council convened into Closed Session in the Conference Room at 6:38p.m.

3. CLOSED SESSION
A. CONFERENCE WITH LABOR NEGOTIATOR Pursuant to Government Code Section 54957.6
Agency Designated Representative: Stephanie Sifuentes, Human Resources Director
Unrepresented Employee: Interim City Manager

The Council reconvened into open session at 8:28 p.m.

City Attorney Nebb reported Council provided direction to its agency representative and there is no further action to report.

4. ADJOURNMENT

The meeting adjourned at 8:30 p.m.

________________________________

ANDREA SORCE, MAYOR

ATTEST:

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_________________________________
DAWN G. ABRAHAMSON, CITY CLERK

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CONSENT CALENDAR 8.C.

DATE: May 12, 2026
TO: Mayor and Members of the City Council
FROM: Nalungo Conley, Assistant City Manager/Acting Finance Director SUBJECT: CITY TREASURER’S QUARTERLY INVESTMENT REPORT

RECOMMENDATION
Accept the City Treasurer’s Investment Report for the quarter ended March 31, 2026

REASONS FOR RECOMMENDATION
The City’s Investment Policy requires the City Treasurer to submit quarterly investment reports to the City Council.

BACKGROUND AND DISCUSSION
The City of Vallejo follows the provisions of California Government Code Sections 53601, 53635, and 53651 as guidelines for developing and implementing its investment policies and practices. The City Manager has delegated the authority for managing and investing City funds to the City Finance Director, who also serves as the City Treasurer. The Finance Director/Treasurer is authorized to invest and reinvest City funds, sell or exchange securities, and deposit securities for safekeeping in accordance with the Investment Policy approved annually by the City Council.

At the end of each calendar quarter, the City Treasurer is required by the City’s adopted Investment Policy to report on the status of investments to the City Council. The City Treasurer’s Investment Report as of March 31, 2026, is submitted. The report includes all securities managed by the City and its Investment Managers (excluding bond proceeds) and provides information on the values (par, fair, and cost), term, and yield of each security. Please note that because the safe-keeping custodian and the Investment Manager may use different pricing sources to determine the market value of the securities, there can be minor differences in market values shown on the custodian's monthly statement as compared to the Investment Manager's monthly statement.

Fair Value of individual securities has been provided by Chandler Asset Management. The City utilizes Principal Financial as its third-party safekeeping custodian for safekeeping of all investments except for the Local Agency Investment Fund (LAIF). LAIF, being a money market fund administered by the State Treasurer, has many governmental agency participants and holds securities through its own administrator.

The share of each fund in the City's pooled cash as of June 30, 2025, is as follows:

Water Fund 26.1%
Capital Project Funds 18.5%
General Fund 17.5%
Risk Funds 13.4%
LMD Funds 7.8%
All other funds 16.8%

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Date: May 12, 2026
Subject: CITY TREASURER’S QUARTERLY INVESTMENT REPORT

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Total 100%

Condensed investment information as of March 31, 2026, is as follows:

Condensed earnings and return information as of March 31, 2026, is as follows:

Current Quarter Fiscal Year-to-
Date
Portfolio Investment Earnings:

City of Vallejo (Realized earnings)2 $ 2,854,525 $ 8,253,958 City of Vallejo (Unrealized earnings) $ (1,328,355) $ (846,900)

Net Change in Portfolio Fair Value Balance3:

City of Vallejo $ 4,798,139 $ (5,841,575)

Approximate Portfolio Rate-of-Return:

City of Vallejo - Yield to Maturity4 3.84%

BENCHMARK COMPARISON RATE-OF-RETURN5:

Local Agency Investment Fund5 3.98% 2-Year U.S. Treasury Note Yield 0.04% 1 In accordance with Government Code Section 53646, the Fair Value of the Local Agency Investment Fund (LAIF) represents the value from the March 31, 2026, LAIF statement and has not been adjusted by the “Amortized Cost Factor” which is used in adjusting the statement balance to the actual “Fair Value” balance. 2 The City records interest income on a cash basis, whereas the attached statement uses the accrual basis. Since the accrual basis includes interest income earned but not received, there is a timing difference in recording the interest income between the City’s books and the attached statement. This difference will be trued up at fiscal year-end. 3 The “Net Change in Portfolio Fair Value Balance” is primarily a measure of the difference in the inflows and outflows of funds during the period. The change is primarily due to the timing of the receipt of property tax revenues, which are received in December and April of each year, and the timing of the City making withdrawals in the ordinary course of business to pay for expenses. 4 Yield to Maturity is the interest income the portfolio will earn for the next twelve months expressed as a percentage. Yield to maturity assumes no changes during that twelve-month period. 5 These are the performance benchmarks stated in the City’s Investment Policy. LAIF rate of return is as of March 31, 2026.

COMPLIANCE
All investment transactions were executed in accordance with the California Government Code and the City’s Investment Policies. In accordance with California Government Code section 53646(b)(3), staff believes that the investments and budgeted revenues for the City will provide sufficient cash flow to meet the anticipated cash flow requirements of each entity for the next six months.

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Date: May 12, 2026
Subject: CITY TREASURER’S QUARTERLY INVESTMENT REPORT

Page 3 ends

Pooled cash and investments book balances are adjusted annually to reflect fair value as required by Generally Accepted Accounting Principles. The term fair value was formerly known as market value and became effective with the mandatory implementation of GASB 31 in fiscal year 1998. The attached investment schedules meet these requirements.

It should be noted that this is an investment portfolio report and does not include bank checking account deposits for the City. The Housing Authority is not required to file a quarterly report because it does not have any reportable investments since it closed its investment account and transferred all funds to its bank account, which is covered by a general depository agreement, as required by HUD.

FISCAL IMPACT
There is no fiscal impact from this report. The City's portfolio had total investment earnings of $2,854,525 during the three-month period ending March 31, 2026. In addition, the portfolio also had a cumulative fair value versus cost value unrealized, non-cash loss of approximately $846,900 as of March 31, 2026. Fair value fluctuates from one period to another depending on the changes in interest rates and the supply and demand for bonds at a particular time. Therefore, there is often a difference between the cost value (the value at the time of purchase) and the fair value (the market value of the same security at a certain later period), creating an unrealized gain or loss.

ENVIRONMENTAL REVIEW
This action is exempt from the California Environmental Quality Act (CEQA) because it is not a project which has a potential for resulting in either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment, pursuant to CEQA Guideline section 15378.

ATTACHMENTS

1. 2026.03.31_Quarterly Report_Vallejo

2. City of Vallejo and Economic Account Anlaysis 03-31-26

CONTACT
Florita Cruz, Assistant Finance Director, (707) 648-5542 [email protected]

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INVESTMENT REPORT
City of Vallejo | As of March 31, 2026
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.

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TABLE OF CONTENTS

ECONOMIC UPDATE

ACCOUNT PROFILE

CONSOLIDATED INFORMATION

PORTFOLIO HOLDINGS

TRANSACTIONS
1

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ECONOMIC UPDATE
2

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▪
▪
▪
March payrolls reboundedby 178,000 after February’s revised 133,000 decline, but the war in Iran and its disruption of the Strait of Hormuz have pushed crude oil above $112, injecting a potential inflationary shock into an economy contending with sticky core prices above 3%.

The Federal Reserve has held the funds rate at 3.50–3.75% and is signaling a cautionary stance, keeping open the option of delaying cuts if oil‑related inflation proves persistent rather than transitory. As the data flow normalizes, the Chandler team anticipates additional yield curve steepening as the Federal Reserve gradually guides the policy rate toward a more neutral range. The Federal Reserve’s March dot plot still projects one cut this year, yet the Iran-driven energy shock has narrowed the path toward easing.

The Federal Reserve’s March 2026 FOMC meeting ended with policymakers again holding the target range at 3.50%–3.75%, as the Committee maintained its pause following three late ‑2025 rate cuts. Governor Stephen Miran dissented in favor of an additional quarter‑point reduction, while Christopher Waller joined the majority, tipping the vote 11–1 to leave the benchmark rate unchanged.

Meanwhile, President Trump’s nominationof Kevin Warsh to succeed Jerome Powell as chair has hit a roadblock after a Republican senator vowed to block Warsh’s confirmation amid the Justice Department’s ongoing probe of the central bank.

Treasury yields exhibited considerable first-quarter volatility as the Iran conflict injected energy-driven inflation fears into a market grappling with sticky core prices. At March month-end, the 2-year yield stood at 3.79%, up 32 basis points year-to-date, the 10-year at

4.32%, and the 30-year at 4.86%. The 2-year to 10-year spread narrowed to 52 basis points, reflecting pronounced flattening as short rates rose faster than longer maturities. One year ago, that spread stood near 32 basis points, providing context on normalization since the 2022 through 2024 yield curve inversion. The 3-month to 10-year spread was approximately 64 basis points at March month-end.

ECONOMIC UPDATE
3

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-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%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
March nonfarm payrolls rose by 178,000, a decisive reversal from February’s revised 133,000 decline that had been distorted by a Kaiser Permanente strike affecting over 30,000 healthcare workers and severe winter weather. Healthcare contributed 76,000 positions as striking nurses returned, while construction and leisure rebounded from weather-induced troughs. The unemployment rate edged lowerto

4.3%, though partly from a labor force reduction rather than a hiring acceleration. Meanwhile, the underemployment rate edged up to

8.0% from 7.9% in February. Average hourly earnings rose 0.2% over the month and 3.5% year over year—the slowest annual pace since May 2021.

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

EMPLOYMENT
4

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0 2,000
4,000
6,000
8,000
10,000
12,000
14,000
Job Openings
Recession
Historical Average
In Thousands (000's)
Job openings fell to 6.9 million in February from a revised 7.2 million in January, according to the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. The ratio of openings to unemployed workers slipped to 0.9, reinforcing the gradual rebalancing of demand and supply. Hires decreased to 4.8 million, the lowest since April 2020, suggesting employers have grown selective about adding headcount. Quits were little changed at 3 million. The data reflects a labor market consistent with the Federal Reserve’s characterization of a no-hire, no-fire environment.

Source: US Department of Labor

JOB OPENINGS & LABOR TURNOVER SURVEY
5

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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%
Personal Consumption Expenditures (PCE)
PCE Price Deflator
YOY % Change
PCE Core Deflator
YOY % Change
Fed Target
YOY (%) Change
Inflation firmed slightly in February on a headline basis, with the Consumer Price Index (CPI) rising 0.3% for the month, following a 0.2% increase in January. On an annual basis, headline CPI rose 2.4%, unchanged from January. Core CPI, which excludes volatile food and energy prices, increased 0.2% in February, down from January’s 0.3% pace, while the annual rate held steady at 2.5%. The Personal Consumption Expenditures (PCE) Index rose 0.3% in January, easing from a 0.4% gain in December. On a year-over-year basis, headline PCE also edged down to 2.8% from 2.9% the prior month. Core PCE held steady at 0.4% on the month but ticked up to 3.1% annually from

3.0% in December, driven largely by higher healthcare services costs.

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

INFLATION
6

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0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%
Retail Sales YOY % Change
YOY (%) Change
The Conference Board’s Consumer Confidence Index edged up to 91.8 in March from 91.0 in February, a second consecutive gain that nonetheless sits well below the all-time peak of 144.7 from early 2000. The Present Situation component rose 4.6 points to 123.3 on favorable assessments of business and labor conditions, while the Expectations Index slipped 1.7 points to 70.9. Inflation expectations climbed to their highest since August 2025, reflecting tariff passthrough and elevated gasoline prices. February retail sales rebounded

0.6% from January, with stronger auto and broad-based discretionary spending offsetting January’s weather- and vehicle-related weakness; the control group also advanced 0.5%, signaling firmer underlying consumer demand. 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
7

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-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 Chicago Fed National Activity Index (CFNAI) fell to ‑0.11 in February, following a positive revision to 0.20 in January. The index’s three‑month moving average edgedup to ‑0.01 from ‑0.02 the prior month. Production and employment related indicators turned negative in February, while sales, orders, and inventories also remained in negative territory. The personal consumption and housing categories slipped modestly but stayed in positive territory. The Conference Board’s Leading Economic Index (LEI) declined 0.1% in January, an improvement from ‑0.2% in December, with consumer expectations and building permits the largest drags on the index. On a year‑over‑year basis, the LEI fell 3.8%, continuing to signal slower economic growth heading into 2026. Notably, the latest LEI data do not yet reflect the impact of the war in Iran.

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

LEADING INDICATORS OF ECONOMIC ACTIVITY
8

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0 200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
In Thousands of Units
Annualized Housing Starts
Multi Family Housing Starts
Single Family Housing Starts
Housing starts rose 7.2% in January to an annualized pace of 1.487 million units, including 935,000 single-family and 552,000 multifamily starts. The January S&P Cotality Case-Shiller 20-City Composite posted a 1.18% year-over-year gain, continuing deceleration from December’s revised 1.43% annual increase. Inflation again outpaced home price appreciation, extending the erosion of real housing returns that began in the second half of 2025. The Freddie Mac 30-year fixed mortgage rate climbed to 6.46% as of April 2, its fifth consecutive weekly rise, reversing progress made when rates dipped below 6% in February. Higher borrowing costs and elevated prices continue to constrain 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
9

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

EXPANDING

CONTRACTING
The Institute for Supply Management’s Manufacturing Index rose to 52.7 in March from 52.4, the fastest factory expansion since August 2022 and a third consecutive month above 50. Production accelerated to 55.1 from 53.5, though new orders decelerated to 53.5 from 55.8.

The prices subindex leaped to 78.3 from 70.5, reflecting elevated energy costs, metals tariffs, and Iran-related supply disruptions.

Employment remained in contraction at 48.7. The Services Index eased to 54.0 in March from 56.1 in February but still posted its 21st consecutive month of expansion. With both measures above the 50 threshold, ISM data point toward a resilient if cost-pressured economy.

Source: Institute for Supply Management

SURVEY BASED MEASURES
10

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Components of GDP 3/25 6/25 9/25 12/25

0.4% 1.7% 2.3% 1.3%

3.8% -2.7% 0.0% 0.6%
-4.7% 4.8% 1.6% -0.2%
-0.4% -0.4% 0.2% -1.2%

0.2% 0.3% 0.2% 0.1%
-0.6% 3.8% 4.4% 0.7%
State and Local (Consumption and Gross
Investment)
Personal Consumption Expenditures
Gross Private Domestic Investment
Net Exports and Imports
Federal Government Expenditures
Total
-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
Source: US Department of Commerce Source: US Department of Commerce The second estimate of real gross domestic product (GDP) showed fourth-quarter growth revised down to 0.7% from the initial 1.4% estimate. The slowdown from 4.4% in the third quarter primarily reflected a sharp pullback in government spending, as the federal government shutdown weighed on activity. Personal Consumption Expenditures also declined across both goods and services.

GROSS DOMESTIC PRODUCT (GDP)
11

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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 Reserve left its benchmark interest rate unchanged in March, keeping the target range at 3.50% to 3.75% following three late‑2025 rate cuts that were justified by signs of softening in the labor market. However, policymakers have grown wary of potential inflationary pressures stemming from tariffs, the war in Iran, and the ensuing spike in commodity prices. The Federal Reserve now projects just one rate cut in 2026, even as inflation expectations rise. The Committee also reaffirmed its December decision to halt balance sheet runoff and to reinvest principal and interest payments from its securities holdings, signaling a continued emphasis on maintaining ample reserves and supporting orderly market functioning.

FEDERAL RESERVE

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
Effective Federal Funds Rate
Recession
Yield (%)
12

Page 29 of 571 ends

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 (%)

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%

5.5%
US Treasury Yield Curve
Mar-26
Dec-25
Mar-25
Yield (%)
At March month-end, the 2-year Treasury yield stood at 3.79%, down approximately 9 basis points from one year ago, while the 10-year finished at 4.32%, roughly 11 basis points higher year-over-year. The spread between the two narrowed to 52 basis points, wider by 20 basis points year-over-year. The prior 2-year to 10-year inversion from July 2022 through August 2024 was historically long. The average spread since 2005 is approximately 95 basis points, suggesting the current slope sits well below its long-run norm. The 3-month to 10- year spread stood near 64 basis points at March month-end.

BOND YIELDS
13

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ACCOUNT PROFILE
14

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OBJECTIVES
Investment Objectives
The investment objectives for the City of Vallejo, in order of priority, are to provide safety to ensure the preservation of capital in the overall portfolio, provide sufficient liquidity for cash needs, and a market rate of return consistent with the investment program.

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. 15

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STATEMENT OF COMPLIANCE
City of Vallejo | Account #260 | As of March 31, 2026
Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES
Max % (MV) 50.0 8.4 Compliant
Max % Issuer (MV) 30.0 8.4 Compliant
Max Maturity (Years) 5.0 4.8 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV) 20.0 3.2 Compliant
Max % Issuer (MV) 5.0 0.5 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

COLLATERALIZED TIME DEPOSITS (NON-

NEGOTIABLE CD/TD)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 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 Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 26.2 Compliant
Max % Issuer (MV) 5.0 1.3 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant
16

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STATEMENT OF COMPLIANCE
City of Vallejo | Account #260 | As of March 31, 2026
Rules Name Limit Actual Compliance
Status Notes

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) 50.0 2.2 Compliant
Max % Issuer (MV) 30.0 1.6 Compliant
Max Callables (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5 2 Compliant

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

LOCAL GOVERNMENT INVESTMENT POOL (LGIP)
Max % (MV) 100.0 0.0 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 1.0 Compliant
Max % Issuer (MV) 5.0 1.0 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) 10.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV) 10.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
17

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STATEMENT OF COMPLIANCE
City of Vallejo | Account #260 | As of March 31, 2026
Rules Name Limit Actual Compliance
Status Notes
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUTUAL FUNDS
Max % (MV) 10.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 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 % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 1.0 0.0 Compliant

SRI PROHIBITED INVESTMENTS
Prohibited Investment - Fossil Fuels 0.0 0.0 Compliant
Prohibited Investments - Alcohol 0.0 0.0 Compliant
Prohibited Investments - Firearms 0.0 0.0 Compliant
Prohibited Investments - Tobacco 0.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 3.1 Compliant
Max % Issuer (MV) 10.0 2.1 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 56.0 Compliant
Max Maturity (Years) 5 4 Compliant
18

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PORTFOLIO CHARACTERISTICS
City of Vallejo | Account #260 | As of March 31, 2026
Benchmark* 3/31/2026
Portfolio
12/31/2025
Portfolio
Average Maturity (yrs) 2.65 2.89 2.56
Average Modified Duration 2.47 2.55 2.24
Average Purchase Yield 3.92% 3.99%
Average Market Yield 3.84% 4.02% 3.75%
Average Quality** AA+ AA AA
Total Market Value 189,685,739 189,226,710
*Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index **The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 19

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SECTOR DISTRIBUTION
City of Vallejo | Account #260 | As of March 31, 2026
Sector as a Percentage of Market Value
Sector 03/31/2026 12/31/2025
US Treasury 56.01% 59.89%
Corporate 26.23% 24.83%
Agency CMBS 8.37% 5.40%
ABS 3.17% 2.67%
Supras 3.06% 3.09%
Agency 2.15% 2.18%
Money Mkt Fd 1.01% 1.94%
20

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0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
Portfolio 1.2% 2.4% 5.3% 23.4% 32.3% 21.6% 13.8% 0.0% 0.0% ICE BofA 1-5 Year Unsubordinated US Treasury &
Agency Index 0.0% 0.0% 2.5% 35.8% 29.1% 20.5% 12.1% 0.0% 0.0%

DURATION DISTRIBUTION
City of Vallejo | Account #260 | As of March 31, 2026
Portfolio Compared to the Benchmark
21

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QUALITY DISTRIBUTION
Rating 03/31/2026 12/31/2025
AAA 7.59% 8.64%
AA 69.47% 69.42%
A 18.62% 18.84%
BBB 1.84% 1.19%
NA 2.48% 1.91%
Rating 03/31/2026 12/31/2025
Aaa 6.69% 7.14%
Aa 70.77% 70.73%
A 20.85% 20.42%
NA 1.68% 1.71%
Rating 03/31/2026 12/31/2025
AAA 10.65% 8.07%
AA 67.27% 71.32%
A 10.79% 10.23%
NA 11.29% 10.38%
City of Vallejo | Account #260 | As of March 31, 2026
S&P Rating Moody’s Rating Fitch Rating
22

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TOTAL RATE OF RETURN* 3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception City of Vallejo 0.26% 4.18% 4.94% 4.41% 1.89% 1.96% 2.76% Benchmark 0.20% 3.87% 4.68% 3.93% 1.49% 1.70% 2.53%
*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.

Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index

INVESTMENT PERFORMANCE
City of Vallejo | Account #260 | As of March 31, 2026
Total Rate of Return : Inception | 01/01/2002
23

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HISTORICAL AVERAGE PURCHASE YIELD
City of Vallejo | Account #260 | As of March 31, 2026
Purchase Yield as of 03/31/26 = 3.92%
24

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PORTFOLIO CHARACTERISTICS
City of Vallejo Reporting Account | Account #261 | As of March 31, 2026 3/31/2026
Portfolio
12/31/2025
Portfolio
Average Maturity (yrs) 0.00 0.00
Average Modified Duration 0.00 0.00
Average Purchase Yield 3.69% 3.84%
Average Market Yield 3.69% 3.84%
Average Quality** AAA AAA
Total Market Value 106,737,920 102,743,618
*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 25

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SECTOR DISTRIBUTION
City of Vallejo Reporting Account | Account #261 | As of March 31, 2026 Sector as a Percentage of Market Value
Sector 03/31/2026 12/31/2025
LAIF 54.41% 55.97%
Money Mkt Fd 45.59% 44.03%
26

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PORTFOLIO CHARACTERISTICS
City of Vallejo Bond Proceeds | Account #10824 | As of March 31, 2026 3/31/2026
Portfolio
12/31/2025
Portfolio
Average Maturity (yrs) 25.08 25.33
Average Modified Duration 25.16 25.33
Average Purchase Yield 0.00% 0.00%
Average Market Yield 0.00% 0.00%
Average Quality** AAA AAA
Total Market Value 33,409,186 42,577,726
*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 27

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SECTOR DISTRIBUTION
City of Vallejo Bond Proceeds | Account #10824 | As of March 31, 2026 Sector as a Percentage of Market Value
Sector 03/31/2026 12/31/2025
US Trsy SLGS 99.98% 100.00%
28

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CONSOLIDATED INFORMATION
29

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PORTFOLIO CHARACTERISTICS
City of Vallejo Cons Portfolio | Account #262 | As of March 31, 2026 3/31/2026
Portfolio
12/31/2025
Portfolio
Average Maturity (yrs) 1.84 1.65
Average Modified Duration 1.62 1.45
Average Purchase Yield 3.84% 3.94%
Average Market Yield 3.90% 3.78%
Average Quality** AA AA
Total Market Value 296,423,659 291,970,328
*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 30

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SECTOR DISTRIBUTION
City of Vallejo Cons Portfolio | Account #262 | As of March 31, 2026 Sector as a Percentage of Market Value
Sector 03/31/2026 12/31/2025
US Treasury 35.80% 38.76%
LAIF 19.63% 19.75%
Money Mkt Fd 17.09% 16.79%
Corporate 16.77% 16.07%
Agency CMBS 5.35% 3.49%
ABS 2.03% 1.73%
Supras 1.96% 2.00%
Agency 1.38% 1.41%
31

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DURATION DISTRIBUTION
City of Vallejo Cons Portfolio | Account #262 | As of March 31, 2026 Date 0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
03/31/2026 36.8% 1.5% 3.4% 15.0% 20.7% 13.8% 8.8% 0.0% 0.0% 12/31/2025 47.0% 0.2% 2.5% 11.4% 17.4% 13.2% 8.3% 0.0% 0.0% 32

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QUALITY DISTRIBUTION
Rating 03/31/2026 12/31/2025
AAA 5.05% 5.80%
AA 44.46% 44.99%
A 11.91% 12.21%
BBB 1.18% 0.77%
NA 37.41% 36.23%
Rating 03/31/2026 12/31/2025
Aaa 4.47% 4.83%
Aa 45.29% 45.84%
A 13.34% 13.24%
NA 36.90% 36.10%
Rating 03/31/2026 12/31/2025
AAA 7.00% 5.43%
AA 43.05% 46.22%
A 6.91% 6.63%
NA 43.04% 41.71%
City of Vallejo Cons Portfolio | Account #262 | As of March 31, 2026 S&P Rating Moody’s Rating Fitch Rating
33

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HISTORICAL AVERAGE PURCHASE YIELD
City of Vallejo Cons Portfolio | Account #262 | As of March 31, 2026 Purchase Yield as of 03/31/26 = 3.84%
34

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PORTFOLIO HOLDINGS
35

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HOLDINGS REPORT
City of Vallejo | Account #260 | As of March 31, 2026
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
47800AAC4 JDOT 2022-B A3 3.74 02/16/2027 238.32 07/12/2022

3.77%
238.30
238.32

99.98 4.24%
238.28

0.40 0.00%
(0.04)
Aaa/NA
AAA

0.88 0.04
58768PAC8 MBART 2022-1 A3 5.21
08/16/2027 78,681.81 11/15/2022

5.27%
78,666.24
78,677.32
100.14

4.27%
78,788.03
182.19

0.04%
110.70
Aaa/AAA
NA

1.38 0.14
05592XAD2 BMWOT 2023-A A3 5.47
02/25/2028 52,031.90 07/11/2023

5.47%
52,022.68
52,028.09
100.51

4.01%
52,296.27

47.44 0.03%
268.18
NA/AAA
AAA

1.91 0.33
02582JJZ4 AMXCA 2023-1 A 4.87 05/15/2026 375,000.00 06/07/2023

4.92%
374,966.74
374,998.23
100.10

4.09%
375,373.13
811.67

0.20%
374.90
NA/AAA
AAA

0.12 0.12
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 1,005,000.00 09/07/2023

5.23%
1,004,721.41
1,004,863.07
100.54

3.99%
1,010,452.13
2,304.80

0.54%
5,589.06
NA/AAA
AAA

2.46 0.44
05594HAD5 BMWLT 2025-2 A3 3.97
09/25/2028 525,000.00 10/08/2025

4.32%
524,998.53
524,998.76

99.87 4.11%
524,291.25
347.38

0.28%
(707.51)
NA/AAA
AAA

2.49 1.26
34535VAD6 FORDO 2024-D A3 4.61
08/15/2029 580,000.00 11/19/2024

4.66%
579,981.38
579,986.72
100.61

4.14%
583,563.52
1,188.36

0.31%
3,576.80
Aaa/NA
AAA

3.38 1.19
47800DAD6 JDOT 2025 A3 4.23 09/17/2029 475,000.00 03/04/2025

5.09%
474,970.12
474,977.11
100.28

4.08%
476,327.15
893.00

0.25%
1,350.04
Aaa/NA
AAA

3.47 1.49
44935CAD3 HART 2025-A A3 4.32 10/15/2029 600,000.00 03/04/2025

4.84%
599,911.50
599,931.81
100.23

4.17%
601,402.80
1,152.00

0.32%
1,470.99
NA/AAA
AAA

3.54 1.25
58770YAD3 MBALT 2026-A A3 3.93
01/15/2030 520,000.00 01/13/2026

3.97%
519,896.88
519,901.84

99.43 4.24%
517,025.08
908.27

0.27%
(2,876.76)
Aaa/NA
AAA

3.79 2.04
34532BAG6 FORDO 2025-B A3 3.91
04/15/2030 490,000.00 09/23/2025

4.27%
489,947.13
489,953.08

99.68 4.11%
488,411.91
851.51

0.26%
(1,541.17)
Aaa/NA
AAA

4.04 1.97
89231GAD0 TAOT 2025-D A3 3.84 06/17/2030 630,000.00 10/15/2025

4.27%
629,927.55
629,934.38

99.28 4.27%
625,441.95
1,075.20

0.33%
(4,492.43)
NA/AAA
AAA

4.21 1.81
47787DAD3 JDOT 2026 A3 3.87 08/15/2030 635,000.00 03/10/2026

4.49%
634,887.48
634,888.46

99.41 4.16%
631,229.37
887.41

0.34%
(3,659.09)
Aaa/NA
AAA

4.38 2.28
Total ABS 5,965,952.03 4.66%
5,965,135.94
5,965,377.17

99.98 4.13%
5,964,840.86
10,649.61

3.17%
(536.31)

3.21 1.33
AGENCY
3130AWMN7 FEDERAL HOME LOAN BANKS

4.375 06/09/2028 1,000,000.00 07/26/2023

4.27%
1,004,500.00
1,002,023.61
101.10

3.84%
1,011,024.00
13,611.11

0.54%
9,000.39
Aa1/AA+
AA+

2.19 2.05
36

Page 53 of 571 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3130AWTR1 FEDERAL HOME LOAN BANKS

4.375 09/08/2028 1,000,000.00 09/21/2023

4.70%
985,570.00
992,908.37
101.29

3.81%
1,012,927.00
2,795.14

0.54%
20,018.63
Aa1/AA+
AA+

2.44 2.29
3133EPN50 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.25 12/15/2028 1,000,000.00 12/28/2023

3.88%
1,016,720.00
1,009,120.84
101.29

3.74%
1,012,937.00
12,513.89

0.54%
3,816.16
Aa1/AA+
AA+

2.71 2.51
3130AVBD3 FEDERAL HOME LOAN BANKS 4.5
03/09/2029 1,000,000.00 04/22/2024

4.71%
990,720.00
994,409.07
101.83

3.83%
1,018,341.00
2,750.00

0.54%
23,931.93
Aa1/AA+
AA+

2.94 2.73
3,997,510.00 101.38 4,055,229.00 2.15% 2.57
Total Agency 4,000,000.00 4.39% 3,998,461.89 3.81% 31,670.14 56,767.11 2.39

AGENCY CMBS
3137FBU79 FHMS K-069 A2 3.187 09/25/2027 1,448,679.27 12/10/2025

3.83%
1,430,853.73
1,433,905.46

98.74 3.97%
1,430,407.08
3,847.45

0.76%
(3,498.38)
Aa1/AAA
AA+

1.49 1.39
3137F4D41 FHMS K-074 A2 3.6 01/25/2028 1,191,921.72 02/10/2026

3.65%
1,188,569.44
1,188,798.78

99.07 4.04%
1,180,820.16
3,575.77

0.63%
(7,978.62)
Aa1/AA+
AAA

1.82 1.67
3137FG6X8 FHMS K-077 A2 3.85 05/25/2028 1,835,000.00 05/24/2023

4.65%
1,801,310.55
1,820,741.01

99.37 4.07%
1,823,422.99
5,887.29

0.97%
2,681.98
Aa1/AA+
AAA

2.15 1.95
3137FJZ93 FHMS K-084 A2 3.78 10/25/2028 2,000,000.00 12/08/2025

3.84%
1,993,203.13
1,993,939.18

99.11 4.08%
1,982,212.00
6,300.00

1.05%
(11,727.18)
Aaa/AA+
AA+

2.57 2.35
3137FLN91 FHMS K-091 A2 3.505 03/25/2029 2,000,000.00 12/04/2025

3.79%
1,980,312.50
1,982,201.03

98.28 4.09%
1,965,610.00
5,841.67

1.04%
(16,591.03)
Aa1/AAA
AA+

2.98 2.68
3137FMTY8 FHMS K-094 A2 2.903 06/25/2029 2,000,000.00 11/24/2025

3.79%
1,939,843.75
1,945,666.84

96.37 4.10%
1,927,358.00
4,838.33

1.02%
(18,308.84)
Aa1/AA+
AAA

3.24 2.96
3137FRUT6 FHMS K-106 A2 2.069 01/25/2030 1,000,000.00 07/14/2025

4.25%
911,445.31
925,470.55

92.74 4.14%
927,396.00
1,724.17

0.49%
1,925.45
Aa1/AA+
AAA

3.82 3.56
3137F9Z79 FHMS K-125 A2 1.846 01/25/2031 3,000,000.00 --

4.08%
2,703,339.84
2,713,162.69

89.80 4.22%
2,694,084.00
4,615.00

1.43%
(19,078.69)
Aa1/AA+
AAA

4.82 4.45
3137FXZ35 FHMS K-127 A2 2.108 01/25/2031 2,000,000.00 02/03/2026

4.11%
1,821,875.00
1,827,248.60

90.82 4.24%
1,816,488.00
3,513.33

0.97%
(10,760.60)
Aa1/AA+
AAA

4.82 4.45
15,770,753.25 95.74 15,747,798.22 8.37% 3.22
Total Agency CMBS 16,475,600.99 4.00% 15,831,134.14 4.12% 40,143.01 (83,335.92) 2.95 CASH
37

Page 54 of 571 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CCYUSD Receivable 5,015.97 -- 5,015.97
5,015.97

1.00 5,015.97

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 5,015.97
5,015.97
5,015.97

1.00 5,015.97

0.00 0.00%

0.00 0.00

0.00 CORPORATE
931142ER0 WALMART INC 1.05 09/17/2026 240,000.00 09/08/2021

1.09%
239,546.40
239,958.02

98.68 3.96%
236,830.56

98.00 0.13%
(3,127.46)
Aa2/AA
AA

0.47 0.45
87612EBM7 TARGET CORP 1.95 01/15/2027 545,000.00 01/19/2022

1.99%
544,073.50
544,852.64

98.43 3.99%
536,448.95
2,243.58

0.29%
(8,403.69)
A2/A
A

0.79 0.77
808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027 1,000,000.00 --

2.76%
985,444.30
997,301.50

98.46 4.17%
984,579.00
1,905.56

0.52%
(12,722.50)
A2/A-
A

0.92 0.90
084664CZ2 BERKSHIRE HATHAWAY FINANCE
CORP 2.3 03/15/2027 1,095,000.00 03/07/2022

2.30%
1,094,791.95
1,094,960.35

98.45 3.97%
1,078,030.79
1,119.33

0.57%
(16,929.56)
Aa2/AA
A+

0.96 0.93
023135CF1 AMAZON.COM INC 3.3
04/13/2027 750,000.00 04/25/2022

3.34%
748,702.50
749,730.05

99.25 4.05%
744,348.75
11,550.00

0.40%
(5,381.30)
A1/AA
AA-

1.04 0.99
74340XBN0 PROLOGIS LP 2.125 04/15/2027 1,000,000.00 11/09/2022

5.15%
881,290.00
972,107.20

98.05 4.06%
980,478.00
9,798.61

0.52%
8,370.80
A2/A
NA

1.04 1.00
927804GH1 VIRGINIA ELECTRIC AND POWER
CO 3.75 05/15/2027 250,000.00 05/16/2022

3.82%
249,220.00
249,823.75

99.38 4.32%
248,457.25
3,541.67

0.13%
(1,366.50)
A3/BBB+
A

1.12 1.07
14913R3A3 CATERPILLAR FINANCIAL SERVICES
CORP 3.6 08/12/2027 700,000.00 08/22/2022

3.81%
693,301.00
698,160.91

99.44 4.03%
696,047.10
3,430.00

0.37%
(2,113.81)
A2/A
A+

1.37 1.31
931142EX7 WALMART INC 3.95 09/09/2027 500,000.00 --

3.98%
499,366.20
499,817.43
100.03

3.93%
500,159.00
1,206.94

0.27%
341.57
Aa2/AA
AA

1.44 1.38
89115A2M3 TORONTO-DOMINION BANK 5.156
01/10/2028 1,100,000.00 06/28/2023

5.27%
1,094,940.00
1,098,015.75
101.27

4.40%
1,113,976.60
12,761.10

0.59%
15,960.85
A2/A-
AA-

1.78 1.66
756109AU8 REALTY INCOME CORP 3.65
01/15/2028 1,000,000.00 04/24/2023

4.71%
955,470.00
983,117.32

98.82 4.34%
988,246.00
7,705.56

0.53%
5,128.68
A3/A-
NA

1.79 1.70
06051GGF0 BANK OF AMERICA CORP 3.824
01/20/2028 1,000,000.00 04/10/2023

5.53%
956,490.00
990,723.76

99.50 5.06%
995,014.00
7,541.78

0.53%
4,290.24
A1/A-
AA-

1.81 0.78
06406RAB3 BANK OF NEW YORK MELLON
CORP 3.442 02/07/2028 1,000,000.00 04/26/2023

4.99%
961,850.00
991,381.03

99.29 4.69%
992,877.00
5,163.00

0.53%
1,495.97
Aa3/A
AA-

1.86 0.82
38

Page 55 of 571 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
74456QBU9 PUBLIC SERVICE ELECTRIC AND
GAS CO 3.7 05/01/2028 1,250,000.00 09/06/2023

5.10%
1,178,487.50
1,217,931.05

98.82 4.30%
1,235,227.50
19,270.83

0.66%
17,296.45
A1/A
NA

2.08 1.95
037833ET3 APPLE INC 4.0 05/10/2028 205,000.00 05/08/2023

4.04%
204,604.35
204,833.25
100.12

3.94%
205,244.36
3,211.67

0.11%
411.11
Aaa/AA+
NA

2.11 1.90
95000U2A0 WELLS FARGO & CO 3.584
05/22/2028 2,000,000.00 12/10/2025

4.61%
1,984,800.00
1,986,689.36

99.06 4.83%
1,981,100.00
25,685.33

1.05%
(5,589.36)
A1/BBB+
A+

2.14 1.09
02665WEM9 AMERICAN HONDA FINANCE
CORP 5.125 07/07/2028 1,200,000.00 08/17/2023

5.33%
1,189,428.00
1,195,087.76
101.06

4.62%
1,212,778.80
14,350.00

0.64%
17,691.04
A3/BBB+
A

2.27 2.10
64952WFP3 NEW YORK LIFE GLOBAL FUNDING

4.15 07/25/2028 2,000,000.00 12/23/2025

3.94%
2,010,080.00
2,009,033.56

99.67 4.30%
1,993,422.00
15,216.67

1.06%
(15,611.56)
Aa1/AA+
AAA

2.32 2.17
78016HZS2 ROYAL BANK OF CANADA 5.2
08/01/2028 1,000,000.00 09/07/2023

5.53%
986,020.00
993,323.10
101.98

4.30%
1,019,816.00
8,666.67

0.54%
26,492.90
A1/A
AA-

2.34 2.16
69371RU20 PACCAR FINANCIAL CORP 4.0
11/07/2028 1,200,000.00 11/25/2025

3.78%
1,207,380.00
1,206,516.60

99.64 4.14%
1,195,713.60
19,200.00

0.64%
(10,803.00)
A1/A+
NA

2.61 2.41
61776NZU0 MORGAN STANLEY PRIVATE BANK
NA 4.204 11/17/2028 1,000,000.00 12/10/2025

4.13%
1,001,340.00
1,001,129.32

99.65 4.43%
996,537.00
15,414.67

0.53%
(4,592.32)
Aa3/A+
AA-

2.63 1.53
89236TFT7 TOYOTA MOTOR CREDIT CORP

3.65 01/08/2029 1,500,000.00 11/25/2025

3.92%
1,488,270.00
1,489,567.61

98.44 4.25%
1,476,597.00
12,622.92

0.78%
(12,970.61)
A1/A+
A+

2.77 2.58
24422EXH7 JOHN DEERE CAPITAL CORP 4.5
01/16/2029 1,200,000.00 04/23/2024

5.08%
1,170,792.00
1,182,732.27
100.95

4.13%
1,211,438.40
11,250.00

0.64%
28,706.13
A1/A
A+

2.80 2.58
06051GMK2 BANK OF AMERICA CORP 4.979
01/24/2029 450,000.00 01/28/2025

4.92%
450,702.00
450,427.00
100.78

4.51%
453,505.95
4,169.91

0.24%
3,078.95
A1/A-
AA-

2.82 1.70
69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029 1,200,000.00 01/24/2024

4.64%
1,198,044.00
1,198,890.85
101.46

4.05%
1,217,532.00
9,353.33

0.65%
18,641.15
A1/A+
NA

2.84 2.62
14913UAJ9 CATERPILLAR FINANCIAL SERVICES
CORP 4.85 02/27/2029 450,000.00 05/21/2024

4.84%
450,193.50
450,118.15
101.76

4.20%
457,906.50
2,061.25

0.24%
7,788.36
A2/A
A+

2.91 2.68
61747YFD2 MORGAN STANLEY 5.164
04/20/2029 1,200,000.00 05/30/2024

5.44%
1,188,336.00
1,193,839.44
101.15

4.78%
1,213,821.60
27,713.47

0.64%
19,982.16
A1/A-
A+

3.05 1.89
89236TMF9 TOYOTA MOTOR CREDIT CORP

5.05 05/16/2029 500,000.00 05/21/2024

5.01%
500,975.00
500,611.59
102.13

4.31%
510,668.50
9,468.75

0.27%
10,056.91
A1/A+
A+

3.13 2.82
91159HJM3 US BANCORP 5.775 06/12/2029 1,100,000.00 06/20/2024

5.26%
1,119,910.00
1,111,010.83
102.86

4.76%
1,131,438.00
19,233.96

0.60%
20,427.17
A3/A
A

3.20 2.02
437076DC3 HOME DEPOT INC 4.75
06/25/2029 1,075,000.00 --

4.33%
1,093,949.25
1,087,754.75
101.54

4.23%
1,091,521.68
13,616.67

0.58%
3,766.92
A2/A
A

3.24 2.87
39

Page 56 of 571 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
46647PAV8 JPMORGAN CHASE & CO 4.203
07/23/2029 1,300,000.00 --

4.84%
1,270,702.00
1,282,726.95

99.43 4.68%
1,292,526.30
10,320.70

0.69%
9,799.35
A1/A
AA-

3.31 2.16
857449AE2 STATE STREET BANK AND TRUST
CO 4.782 11/23/2029 1,250,000.00 01/15/2025

4.93%
1,241,875.00
1,243,892.49
101.61

4.30%
1,270,140.00
21,253.33

0.67%
26,247.51
Aa2/AA-
AA

3.65 3.27
756109CC6 REALTY INCOME CORP 3.4
01/15/2030 1,250,000.00 12/04/2025

4.15%
1,215,000.00
1,217,726.36

95.90 4.59%
1,198,695.00
8,972.22

0.64%
(19,031.36)
A3/A-
NA

3.79 3.48
571748CA8 MARSH & MCLENNAN
COMPANIES INC 4.65 03/15/2030 1,995,000.00 --

4.52%
2,004,207.30
2,004,317.18
100.71

4.45%
2,009,228.34
4,123.00

1.07%
4,911.17
A3/A-
A-

3.96 3.50
00287YDZ9 ABBVIE INC 4.875 03/15/2030 2,200,000.00 --

4.27%
2,252,670.00
2,246,697.19
101.99

4.32%
2,243,887.80
4,766.67

1.19%
(2,809.39)
A2/A-
NA

3.96 3.50
74340XBM2 PROLOGIS LP 2.25 04/15/2030 1,200,000.00 11/24/2025

4.11%
1,111,128.00
1,118,173.41

92.08 4.41%
1,105,004.40
12,450.00

0.59%
(13,169.01)
A2/A
NA

4.04 3.75
24422EYE3 JOHN DEERE CAPITAL CORP 4.55
06/05/2030 1,200,000.00 12/04/2025

4.10%
1,221,792.00
1,220,240.17
100.68

4.37%
1,208,100.00
17,593.33

0.64%
(12,140.17)
A1/A
A+

4.18 3.72
46647PDF0 JPMORGAN CHASE & CO 4.565
06/14/2030 1,200,000.00 11/24/2025

4.19%
1,214,724.00
1,213,282.25
100.09

4.73%
1,201,128.00
16,281.83

0.64%
(12,154.25)
A1/A
AA-

4.21 2.91
06051GHV4 BANK OF AMERICA CORP 3.194
07/23/2030 1,000,000.00 12/04/2025

4.40%
966,490.00
968,808.55

95.91 4.67%
959,060.00
6,033.11

0.51%
(9,748.55)
A1/A-
AA-

4.31 3.08
828807DZ7 SIMON PROPERTY GROUP LP

4.375 10/01/2030 2,000,000.00 12/08/2025

4.27%
2,008,720.00
2,008,149.44

99.43 4.52%
1,988,656.00
53,958.33

1.06%
(19,493.44)
A3/A
NA

4.50 4.04
63743HGC0

NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP 4.3
12/10/2030
2,000,000.00 12/11/2025

4.21%
2,008,040.00
2,007,547.02

98.85 4.57%
1,976,948.00
26,516.67

1.05%
(30,599.02)
A2/NA
A

4.70 4.15
40139LBP7 GUARDIAN LIFE GLOBAL FUNDING

4.402 12/11/2030 1,000,000.00 12/08/2025

4.40%
1,000,000.00
1,000,000.00

99.22 4.59%
992,194.00
13,450.56

0.53%
(7,806.00)
Aa1/AA+
NA

4.70 4.14
14913UBH2 CATERPILLAR FINANCIAL SERVICES
CORP 4.15 01/08/2031 1,250,000.00 02/04/2026

4.19%
1,247,650.00
1,247,721.89

99.06 4.37%
1,238,293.75
11,960.07

0.66%
(9,428.14)
A2/A
A+

4.77 4.24
02079KBK2 ALPHABET INC 4.1 02/15/2031 2,000,000.00 02/12/2026

4.10%
2,000,117.04
2,000,114.07

99.31 4.26%
1,986,102.00
10,933.33

1.06%
(14,012.07)
Aa2/AA+
NA

4.88 4.35
Total Corporate 49,555,000.00 4.39%
49,090,912.79
49,368,843.13

99.66 4.40%
49,369,725.47
517,184.37

26.23%
882.34

3.04 2.55

MONEY MARKET
FUND
40

Page 57 of 571 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
94975H312 ALLSPRING:TRS+ MM S 1,895,228.86 --

3.30%
1,895,228.86
1,895,228.86

1.00 3.30%
1,895,228.86

0.00 1.01%

0.00 Aaa/AAAm
AAA

0.00 0.00
Total Money Market
Fund 1,895,228.86 3.30%
1,895,228.86
1,895,228.86

1.00 3.30%
1,895,228.86

0.00 1.01%

0.00 0.00

0.00 SUPRANATIONAL
45950KDD9 INTERNATIONAL FINANCE CORP

4.5 07/13/2028 520,000.00 07/06/2023

4.53%
519,422.80
519,736.52
101.47

3.82%
527,622.16
5,070.00

0.28%
7,885.64
Aaa/AAA
NA

2.28 2.14
4581X0EN4 INTER-AMERICAN DEVELOPMENT
BANK 4.125 02/15/2029 1,250,000.00 02/15/2024

4.31%
1,239,725.00
1,244,072.98
100.77

3.84%
1,259,578.75
6,588.54

0.67%
15,505.77
Aaa/AAA
NA

2.88 2.67
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
1,000,000.00 10/28/2024

4.14%
988,380.00
991,706.41
100.04

3.86%
1,000,360.00
17,760.00

0.53%
8,653.59
Aaa/AAA
NA

3.54 3.22
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
1,000,000.00 03/27/2025

4.22%
995,850.00
996,692.33
100.81

3.90%
1,008,097.00
1,260.42

0.54%
11,404.67
Aaa/AAA
NA

3.97 3.63
459058LY7

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.5 10/28/2030
2,000,000.00 12/10/2025

3.81%
1,972,820.00
1,974,513.03

98.18 3.94%
1,963,628.00
29,750.00

1.04%
(10,885.03)
Aaa/AAA
NA

4.58 4.12
Total Supranational 5,770,000.00 4.11%
5,716,197.80
5,726,721.27

99.83 3.89%
5,759,285.91
60,428.96

3.06%
32,564.64

3.71 3.38

US TREASURY
91282CCP4 UNITED STATES TREASURY 0.625
07/31/2026 1,000,000.00 08/10/2021

0.82%
990,507.81
999,367.19

98.97 3.74%
989,695.00
1,035.91

0.53%
(9,672.19)
Aa1/AA+
AA+

0.33 0.33
91282CCW9 UNITED STATES TREASURY 0.75
08/31/2026 2,250,000.00 --

0.97%
2,226,699.22
2,247,998.79

98.77 3.78%
2,222,226.00
1,467.39

1.18%
(25,772.79)
Aa1/AA+
AA+

0.42 0.41
91282CDG3 UNITED STATES TREASURY 1.125
10/31/2026 3,000,000.00 --

1.27%
2,979,511.72
2,997,563.68

98.48 3.80%
2,954,343.00
14,171.27

1.57%
(43,220.68)
Aa1/AA+
AA+

0.59 0.57
912828Z78 UNITED STATES TREASURY 1.5
01/31/2027 500,000.00 03/30/2022

2.45%
478,320.31
496,257.89

98.18 3.74%
490,893.50
1,243.09

0.26%
(5,364.39)
Aa1/AA+
AA+

0.84 0.82
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027 1,250,000.00 09/27/2022

4.25%
1,160,839.84
1,230,270.94

98.83 3.71%
1,235,312.50

85.38 0.66%
5,041.56
Aa1/AA+
AA+

1.00 0.97
41

Page 58 of 571 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CEN7 UNITED STATES TREASURY 2.75
04/30/2027 2,500,000.00 --

3.23%
2,445,792.97
2,488,020.52

98.92 3.78%
2,472,922.50
28,867.40

1.31%
(15,098.02)
Aa1/AA+
AA+

1.08 1.04
91282CEW7 UNITED STATES TREASURY 3.25
06/30/2027 1,400,000.00 07/12/2022

3.00%
1,416,296.88
1,404,089.95

99.30 3.82%
1,390,265.80
11,437.85

0.74%
(13,824.15)
Aa1/AA+
AA+

1.25 1.20
91282CKZ3 UNITED STATES TREASURY 4.375
07/15/2027 2,000,000.00 02/26/2026

3.48%
2,023,750.00
2,022,191.85
100.68

3.83%
2,013,594.00
18,370.17

1.07%
(8,597.85)
Aa1/AA+
AA+

1.29 1.23
91282CFH9 UNITED STATES TREASURY 3.125
08/31/2027 2,250,000.00 --

3.47%
2,231,093.75
2,239,661.19

99.02 3.84%
2,227,938.75
6,114.13

1.18%
(11,722.44)
Aa1/AA+
AA+

1.42 1.36
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 2,250,000.00 --

3.80%
2,259,423.83
2,260,545.54
100.41

3.84%
2,259,229.50
253.59

1.20%
(1,316.04)
Aa1/AA+
AA+

1.50 1.44
91282CFU0 UNITED STATES TREASURY 4.125
10/31/2027 1,100,000.00 12/20/2022

3.84%
1,113,750.00
1,104,477.47
100.41

3.85%
1,104,555.10
19,052.49

0.59%

77.63 Aa1/AA+
AA+

1.59 1.49
91282CLX7 UNITED STATES TREASURY 4.125
11/15/2027 2,000,000.00 12/04/2025

3.54%
2,021,953.13
2,018,335.50
100.43

3.85%
2,008,594.00
31,222.38

1.07%
(9,741.50)
Aa1/AA+
AA+

1.63 1.53
91282CGC9 UNITED STATES TREASURY 3.875
12/31/2027 2,050,000.00 --

3.58%
2,069,824.22
2,059,721.42
100.07

3.83%
2,051,441.15
19,969.10

1.09%
(8,280.27)
Aa1/AA+
AA+

1.75 1.66
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 2,000,000.00 12/11/2025

3.52%
1,999,218.75
1,999,328.93

99.43 3.82%
1,988,594.00
11,602.21

1.06%
(10,734.93)
Aa1/AA+
AA+

1.84 1.75
9128283W8 UNITED STATES TREASURY 2.75
02/15/2028 2,250,000.00 --

3.98%
2,146,708.98
2,202,840.43

98.08 3.82%
2,206,845.00
7,691.64

1.17%
4,004.57
Aa1/AA+
AA+

1.88 1.80
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 2,000,000.00 12/11/2025

3.52%
2,020,312.50
2,017,550.60
100.33

3.82%
2,006,562.00
6,956.52

1.07%
(10,988.60)
Aa1/AA+
AA+

1.92 1.82
91282CGT2 UNITED STATES TREASURY 3.625
03/31/2028 1,750,000.00 06/29/2023

4.18%
1,708,437.50
1,732,522.68

99.64 3.82%
1,743,642.25
173.33

0.93%
11,119.57
Aa1/AA+
AA+

2.00 1.91
91282CHA2 UNITED STATES TREASURY 3.5
04/30/2028 2,180,000.00 --

3.55%
2,175,314.06
2,178,024.36

99.37 3.82%
2,166,204.96
32,037.57

1.15%
(11,819.40)
Aa1/AA+
AA+

2.08 1.96
91282CHE4 UNITED STATES TREASURY 3.625
05/31/2028 2,250,000.00 02/04/2026

3.58%
2,252,109.38
2,251,972.25

99.61 3.81%
2,241,123.75
27,336.88

1.19%
(10,848.50)
Aa1/AA+
AA+

2.17 2.04
91282CHK0 UNITED STATES TREASURY 4.0
06/30/2028 2,250,000.00 02/09/2026

3.50%
2,275,312.50
2,273,859.43
100.42

3.80%
2,259,405.00
22,624.31

1.20%
(14,454.43)
Aa1/AA+
AA+

2.25 2.11
91282CNM9 UNITED STATES TREASURY 3.875
07/15/2028 2,250,000.00 02/04/2026

3.59%
2,264,765.63
2,263,854.17
100.12

3.82%
2,252,637.00
18,304.56

1.20%
(11,217.17)
Aa1/AA+
AA+

2.29 2.16
91282CHQ7 UNITED STATES TREASURY 4.125
07/31/2028 2,500,000.00 --

3.99%
2,497,050.78
2,508,174.37
100.69

3.81%
2,517,187.50
17,092.54

1.34%
9,013.13
Aa1/AA+
AA+

2.33 2.19
42

Page 59 of 571 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CHX2 UNITED STATES TREASURY 4.375
08/31/2028 2,500,000.00 --

4.18%
2,505,527.34
2,511,758.89
101.25

3.83%
2,531,250.00
9,510.87

1.35%
19,491.11
Aa1/AA+
AA+

2.42 2.27
91282CJA0 UNITED STATES TREASURY 4.625
09/30/2028 1,850,000.00 --

4.93%
1,825,767.58
1,837,741.43
101.91

3.81%
1,885,410.85
233.78

1.00%
47,669.42
Aa1/AA+
AA+

2.50 2.34
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 2,000,000.00 12/23/2025

3.59%
2,069,140.63
2,062,637.96
102.55

3.83%
2,051,016.00
40,939.23

1.09%
(11,621.96)
Aa1/AA+
AA+

2.59 2.36
9128285M8 UNITED STATES TREASURY 3.125
11/15/2028 1,000,000.00 11/17/2023

4.49%
939,570.31
968,193.15

98.26 3.83%
982,578.00
11,826.66

0.52%
14,384.85
Aa1/AA+
AA+

2.63 2.46
91282CJN2 UNITED STATES TREASURY 4.375
11/30/2028 2,250,000.00 --

3.70%
2,304,873.05
2,287,160.42
101.38

3.82%
2,281,113.00
32,992.79

1.21%
(6,047.42)
Aa1/AA+
AA+

2.67 2.46
91282CJR3 UNITED STATES TREASURY 3.75
12/31/2028 2,400,000.00 --

3.77%
2,394,468.76
2,399,202.47

99.80 3.83%
2,395,219.20
22,624.31

1.27%
(3,983.27)
Aa1/AA+
AA+

2.75 2.56
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029 2,000,000.00 --

4.13%
1,985,546.88
1,993,766.37
100.45

3.83%
2,009,062.00
13,259.67

1.07%
15,295.63
Aa1/AA+
AA+

2.84 2.64
91282CKD2 UNITED STATES TREASURY 4.25
02/28/2029 2,250,000.00 --

3.88%
2,274,228.52
2,272,921.71
101.15

3.83%
2,275,839.00
8,315.22

1.21%
2,917.29
Aa1/AA+
AA+

2.91 2.71
91282CKG5 UNITED STATES TREASURY 4.125
03/31/2029 2,000,000.00 --

4.09%
1,997,328.13
2,002,550.49
100.83

3.83%
2,016,640.00
225.41

1.07%
14,089.51
Aa1/AA+
AA+

3.00 2.80
91282CKP5 UNITED STATES TREASURY 4.625
04/30/2029 1,000,000.00 05/28/2024

4.54%
1,003,476.56
1,002,176.48
102.27

3.84%
1,022,656.00
19,419.89

0.54%
20,479.52
Aa1/AA+
AA+

3.08 2.80
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029 2,250,000.00 --

4.04%
2,284,882.82
2,280,434.45
101.94

3.84%
2,293,593.75
33,935.44

1.22%
13,159.30
Aa1/AA+
AA+

3.17 2.89
91282CKX8 UNITED STATES TREASURY 4.25
06/30/2029 1,850,000.00 --

3.67%
1,897,115.24
1,881,557.10
101.21

3.85%
1,872,401.65
19,764.85

0.99%
(9,155.45)
Aa1/AA+
AA+

3.25 2.98
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 1,750,000.00 --

4.02%
1,748,632.81
1,749,129.54
100.45

3.86%
1,757,792.75
11,602.21

0.93%
8,663.21
Aa1/AA+
AA+

3.33 3.08
91282CFJ5 UNITED STATES TREASURY 3.125
08/31/2029 2,250,000.00 --

3.54%
2,211,738.28
2,220,761.68

97.64 3.87%
2,197,001.25
6,114.13

1.17%
(23,760.43)
Aa1/AA+
AA+

3.42 3.19
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029 2,250,000.00 --

4.03%
2,200,917.97
2,212,505.92

98.80 3.87%
2,222,930.25
215.16

1.18%
10,424.33
Aa1/AA+
AA+

3.50 3.26
91282CLR0 UNITED STATES TREASURY 4.125
10/31/2029 2,250,000.00 --

4.01%
2,257,919.92
2,259,034.11
100.82

3.88%
2,268,456.75
38,970.99

1.21%
9,422.64
Aa1/AA+
AA+

3.59 3.25
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 1,700,000.00 --

4.09%
1,702,902.34
1,702,136.76
100.83

3.88%
1,714,077.70
23,503.43

0.91%
11,940.94
Aa1/AA+
AA+

3.67 3.33
43

Page 60 of 571 ends

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CMD0 UNITED STATES TREASURY 4.375
12/31/2029 2,250,000.00 --

4.09%
2,272,822.26
2,272,014.63
101.69

3.88%
2,288,056.50
24,745.34

1.22%
16,041.87
Aa1/AA+
AA+

3.75 3.40
91282CMG3 UNITED STATES TREASURY 4.25
01/31/2030 2,200,000.00 11/26/2025

3.54%
2,259,984.38
2,255,106.96
101.27

3.89%
2,227,843.20
15,497.24

1.18%
(27,263.76)
Aa1/AA+
AA+

3.84 3.49
91282CGQ8 UNITED STATES TREASURY 4.0
02/28/2030 2,000,000.00 12/11/2025

3.64%
2,027,500.00
2,025,534.44
100.38

3.89%
2,007,578.00
6,956.52

1.07%
(17,956.44)
Aa1/AA+
AA+

3.91 3.58
91282CMU2 UNITED STATES TREASURY 4.0
03/31/2030 2,250,000.00 --

3.79%
2,269,267.58
2,267,597.80
100.36

3.90%
2,258,086.50
245.90

1.20%
(9,511.30)
Aa1/AA+
AA+

4.00 3.66
91282CMZ1 UNITED STATES TREASURY 3.875
04/30/2030 2,050,000.00 --

3.91%
2,045,781.25
2,047,285.66

99.89 3.90%
2,047,757.30
33,354.97

1.09%
471.64
Aa1/AA+
AA+

4.08 3.68
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030 2,050,000.00 --

3.80%
2,067,031.25
2,065,352.57
100.34

3.91%
2,056,965.90
27,483.52

1.09%
(8,386.67)
Aa1/AA+
AA+

4.17 3.75
91282CNK3 UNITED STATES TREASURY 3.875
06/30/2030 2,500,000.00 --

3.87%
2,499,785.16
2,500,219.35

99.85 3.91%
2,496,192.50
24,352.56

1.33%
(4,026.85)
Aa1/AA+
AA+

4.25 3.85
91282CNN7 UNITED STATES TREASURY 3.875
07/31/2030 2,250,000.00 --

3.69%
2,267,470.70
2,265,985.40

99.83 3.92%
2,246,220.00
14,450.97

1.19%
(19,765.40)
Aa1/AA+
AA+

4.33 3.93
91282CNX5 UNITED STATES TREASURY 3.625
08/31/2030 2,250,000.00 --

3.63%
2,249,003.91
2,249,188.62

98.77 3.93%
2,222,401.50
7,092.39

1.18%
(26,787.12)
Aa1/AA+
AA+

4.42 4.02
91282CPA3 UNITED STATES TREASURY 3.625
09/30/2030 2,100,000.00 --

3.68%
2,094,605.47
2,095,152.78

98.75 3.93%
2,073,831.90
207.99

1.10%
(21,320.88)
Aa1/AA+
AA+

4.50 4.11
91282CPD7 UNITED STATES TREASURY 3.625
10/31/2030 2,250,000.00 --

3.67%
2,245,673.83
2,246,005.07

98.71 3.94%
2,220,907.50
34,247.24

1.18%
(25,097.57)
Aa1/AA+
AA+

4.59 4.11
91282CPN5 UNITED STATES TREASURY 3.5
11/30/2030 2,500,000.00 12/08/2025

3.76%
2,471,093.75
2,472,891.44

98.16 3.93%
2,454,005.00
29,326.92

1.30%
(18,886.44)
Aa1/AA+
AA+

4.67 4.21
91282CPR6 UNITED STATES TREASURY 3.625
12/31/2030 2,250,000.00 02/04/2026

3.82%
2,230,839.84
2,231,428.56

98.64 3.94%
2,219,413.50
20,503.28

1.18%
(12,015.06)
Aa1/AA+
AA+

4.75 4.28
Total US Treasury 105,430,000.00 3.63%
105,361,890.28
105,634,061.35

99.98 3.85%
105,399,509.71
829,028.57

56.00%
(234,551.64)

2.77 2.55
Total Portfolio 189,096,797.85 3.92%
187,802,644.89
188,424,843.77

98.57 4.02%
188,196,634.00
1,489,104.66
100.00%
(228,209.77)

2.89 2.55
Total Market Value +
Accrued 189,685,738.66
44

Page 61 of 571 ends

HOLDINGS REPORT
City of Vallejo Reporting Account | Account #261 | As of March 31, 2026 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 554,975.47 -- 554,975.47
554,975.47

1.00 554,975.47

0.00 0.52%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 554,975.47
554,975.47
554,975.47

1.00 554,975.47

0.00 0.52%

0.00 0.00

0.00 LAIF
90LAIF$00 Local Agency Investment Fund
State Pool 57,777,409.80 --

3.82%
57,777,409.80
57,777,409.80

1.00 3.82%
57,777,409.80

0.00 54.13%

0.00 NA/NA
NA

0.00 0.00
Total LAIF 57,777,409.80 3.82%
57,777,409.80
57,777,409.80

1.00 3.82%
57,777,409.80

0.00 54.13%

0.00 0.00

0.00 MONEY MARKET
FUND
85253$413 Wells Fargo Stagecoach Sweep
Account 48,405,534.96 --

3.54%
48,405,534.96
48,405,534.96

1.00 3.54%
48,405,534.96

0.00 45.35%

0.00 NA/NA
NA

0.00 0.00
Total Money Market
Fund 48,405,534.96 3.54%
48,405,534.96
48,405,534.96

1.00 3.54%
48,405,534.96

0.00 45.35%

0.00 0.00

0.00 Total Portfolio 106,737,920.23 3.69%
106,737,920.23
106,737,920.23

1.00 3.69%
106,737,920.23

0.00 100.00%

0.00 0.00

0.00 Total Market Value +
Accrued 106,737,920.23
45

Page 62 of 571 ends

HOLDINGS REPORT
City of Vallejo Bond Proceeds | Account #10824 | As of March 31, 2026 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 21.12 -- 21.12

21.12 1.00 21.12

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 21.12

21.12 21.12

1.00 21.12

0.00 0.00%

0.00 0.00

0.00 MONEY MARKET
FUND
94975H312 ALLSPRING:TRS+ MM S 7,577.67 --

3.29%
7,577.67
7,577.67

1.00 3.29%
7,577.67

0.00 0.02%

0.00 Aaa/AAAm
AAA

0.00 0.00
Total Money Market
Fund 7,577.67 3.29%
7,577.67
7,577.67

1.00 3.29%
7,577.67

0.00 0.02%

0.00 0.00

0.00 US TREAS SLGS
91399CKK6 US TREASURY STATE 05/01/2051 27,102,501.99 --

0.00%
27,034,987.08
27,034,987.08
100.00

0.00%
27,102,501.99

0.00 81.12%
67,514.91
NA/NA
NA

25.08 25.17
91399CHE4 US TREASURY STATE 05/01/2051 6,299,085.70 --

0.00%
6,283,418.89
6,283,418.89
100.00

0.00%
6,299,085.70

0.00 18.85%
15,666.81
NA/NA
NA

25.08 25.17
Total US Treas SLGS 33,401,587.69 0.00%
33,318,405.97
33,318,405.97
100.00

0.00%
33,401,587.69

0.00 99.98%
83,181.72

25.08 25.17
Total Portfolio 33,409,186.48 0.00%
33,326,004.76
33,326,004.76

99.98 0.00%
33,409,186.48

0.00 100.00%
83,181.72

25.08 25.16
Total Market Value +
Accrued 33,409,186.48
46

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TRANSACTIONS
47

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ACQUISITIONS
Purchase 01/21/2026 58770YAD3 520,000.00 MBALT 2026-A A3 3.93 01/15/2030 99.980 3.97% (519,896.88) 0.00 (519,896.88) 0.00 Purchase 01/28/2026 3137F9Z79 2,500,000.00 FHMS K-125 A2 1.846 01/25/2031 89.945 4.11% (2,248,632.81) (3,461.25) (2,252,094.06) 0.00 Purchase 02/05/2026 14913UBH2 1,250,000.00

CATERPILLAR

FINANCIAL SERVICES
CORP 4.15 01/08/2031

99.812 4.19% (1,247,650.00) (3,890.63) (1,251,540.63) 0.00 Purchase 02/05/2026 91282CLR0 1,000,000.00

UNITED STATES
TREASURY 4.125
10/31/2029
101.402 3.72% (1,014,023.44) (11,053.18) (1,025,076.62) 0.00 Purchase 02/05/2026 91282CFH9 1,250,000.00

UNITED STATES
TREASURY 3.125
08/31/2027

99.359 3.55% (1,241,992.19) (17,049.38) (1,259,041.57) 0.00 Purchase 02/05/2026 91282CLN9 1,000,000.00

UNITED STATES
TREASURY 3.5
09/30/2029

99.301 3.71% (993,007.81) (12,307.69) (1,005,315.50) 0.00 Purchase 02/05/2026 91282CMD0 1,000,000.00

UNITED STATES
TREASURY 4.375
12/31/2029
102.316 3.73% (1,023,164.06) (4,350.83) (1,027,514.89) 0.00 Purchase 02/05/2026 91282CHE4 2,250,000.00

UNITED STATES
TREASURY 3.625
05/31/2028
100.094 3.58% (2,252,109.38) (15,012.88) (2,267,122.26) 0.00 Purchase 02/05/2026 91282CKT7 1,000,000.00

UNITED STATES
TREASURY 4.5
05/31/2029
102.570 3.67% (1,025,703.13) (8,282.97) (1,033,986.10) 0.00 Purchase 02/05/2026 91282CNM9 2,250,000.00

UNITED STATES
TREASURY 3.875
07/15/2028
100.656 3.59% (2,264,765.63) (5,057.84) (2,269,823.47) 0.00 Purchase 02/05/2026 91282CPR6 2,250,000.00

UNITED STATES
TREASURY 3.625
12/31/2030

99.148 3.82% (2,230,839.84) (8,111.19) (2,238,951.03) 0.00 Purchase 02/06/2026 3137FXZ35 2,000,000.00 FHMS K-127 A2 2.108 01/25/2031 91.094 4.11% (1,821,875.00) (585.56) (1,822,460.56) 0.00 Purchase 02/09/2026 91282CHQ7 1,500,000.00

UNITED STATES
TREASURY 4.125
07/31/2028
101.387 3.53% (1,520,800.78) (1,538.33) (1,522,339.11) 0.00 48

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UNITED STATES
TREASURY 4.25
02/28/2029
101.895 3.59% (1,273,681.64) (23,774.17) (1,297,455.81) 0.00 Purchase 02/09/2026 91282CHX2 1,000,000.00

UNITED STATES
TREASURY 4.375
08/31/2028
101.988 3.55% (1,019,882.81) (19,578.73) (1,039,461.54) 0.00 Purchase 02/09/2026 91282CJR3 1,200,000.00

UNITED STATES
TREASURY 3.75
12/31/2028
100.488 3.57% (1,205,859.38) (4,972.38) (1,210,831.76) 0.00 Purchase 02/10/2026 91282CHK0 2,250,000.00

UNITED STATES
TREASURY 4.0
06/30/2028
101.125 3.50% (2,275,312.50) (10,193.37) (2,285,505.87) 0.00 Purchase 02/10/2026 9128283W8 1,000,000.00

UNITED STATES
TREASURY 2.75
02/15/2028

98.563 3.50% (985,625.00) (13,376.36) (999,001.36) 0.00 Purchase 02/10/2026 91282CFM8 1,250,000.00

UNITED STATES
TREASURY 4.125
09/30/2027
101.004 3.49% (1,262,548.83) (18,840.14) (1,281,388.97) 0.00 Purchase 02/13/2026 3137F4D41 1,200,000.00 FHMS K-074 A2 3.6 01/25/2028 99.719 3.65% (1,191,162.98) (1,433.43) (1,192,596.41) 0.00 Purchase 02/17/2026 02079KBK2 1,184,000.00 ALPHABET INC 4.1 02/15/2031 100.044 4.09% (1,184,520.96) (539.38) (1,185,060.34) 0.00 Purchase 02/17/2026 02079KBK2 816,000.00 ALPHABET INC 4.1 02/15/2031 99.951 4.11% (815,596.08) (371.73) (815,967.81) 0.00 Purchase 02/18/2026 91282CFJ5 750,000.00

UNITED STATES
TREASURY 3.125
08/31/2029

98.703 3.52% (740,273.44) (11,071.31) (751,344.75) 0.00 Purchase 02/18/2026 91282CJN2 750,000.00

UNITED STATES
TREASURY 4.375
11/30/2028
102.402 3.46% (768,017.58) (7,211.54) (775,229.12) 0.00 Purchase 02/20/2026 3137F9Z79 500,000.00 FHMS K-125 A2 1.846 01/25/2031 90.941 3.90% (454,707.03) (487.14) (455,194.17) 0.00 Purchase 02/27/2026 91282CKZ3 2,000,000.00

UNITED STATES
TREASURY 4.375
07/15/2027
101.188 3.48% (2,023,750.00) (10,393.65) (2,034,143.65) 0.00 Purchase 03/18/2026 47787DAD3 635,000.00 JDOT 2026 A3 3.87 08/15/2030 99.982 4.49% (634,887.48) 0.00 (634,887.48) 0.00 49

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TRANSACTION LEDGER
City of Vallejo | Account #260|01/01/2026 Through 03/31/2026| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
Total Purchase 35,555,000.00 (35,240,286.66) (212,945.06) (35,453,231.72) 0.00 TOTAL
ACQUISITIONS 35,555,000.00 (35,240,286.66) (212,945.06) (35,453,231.72) 0.00

DISPOSITIONS
Maturity 01/31/2026 91282CJV4 (30,000,000.00)

UNITED STATES
TREASURY 4.25
01/31/2026
100.000 4.12% 30,000,000.00 0.00 30,000,000.00 0.00
Total Maturity (30,000,000.00) 30,000,000.00 0.00 30,000,000.00 0.00 Sale 01/27/2026 912828V98 (1,250,000.00)

UNITED STATES
TREASURY 2.25
02/15/2027

98.652 3.92% 1,233,154.30 12,610.39 1,245,764.69 3,257.26 Total Sale (1,250,000.00) 1,233,154.30 12,610.39 1,245,764.69 3,257.26 TOTAL
DISPOSITIONS (31,250,000.00) 31,233,154.30 12,610.39 31,245,764.69 3,257.26 50

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TRANSACTION LEDGER
City of Vallejo Reporting Account | Account #261|01/01/2026 Through 03/31/2026| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 01/15/2026 90LAIF$00 604,525.18
Local Agency
Investment Fund State
Pool

1.000 3.93% (604,525.18) 0.00 (604,525.18) 0.00
Total Purchase 604,525.18 (604,525.18) 0.00 (604,525.18) 0.00 TOTAL
ACQUISITIONS 604,525.18 (604,525.18) 0.00 (604,525.18) 0.00 51

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TRANSACTION LEDGER
City of Vallejo Bond Proceeds | Account #10824|01/01/2026 Through 03/31/2026| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss

ACQUISITIONS
Transfer In 01/02/2026 91399CJM4 9,832.28 US TREASURY STATE 05/01/2051 100.000 0.00% (9,832.28) 0.00 0.00 0.00
Transfer In 01/02/2026 91399CHE4 27,805.45 US TREASURY STATE 05/01/2051 100.000 0.00% (27,805.45) 0.00 0.00 0.00
Transfer In 01/02/2026 91399CKK6 64,273.54 US TREASURY STATE 05/01/2051 100.000 0.00% (64,273.54) 0.00 0.00 0.00
Transfer In 02/02/2026 91399CJM4 9,671.12 US TREASURY STATE 05/01/2051 100.000 0.00% (9,671.12) 0.00 0.00 0.00
Transfer In 02/02/2026 91399CHE4 27,349.66 US TREASURY STATE 05/01/2051 100.000 0.00% (27,349.66) 0.00 0.00 0.00
Transfer In 02/02/2026 91399CKK6 63,219.94 US TREASURY STATE 05/01/2051 100.000 0.00% (63,219.94) 0.00 0.00 0.00
Transfer In 02/24/2026 91399CJM4 7,573.88 US TREASURY STATE 05/01/2051 100.000 0.00% (7,573.88) 0.00 0.00 0.00
Transfer In 03/02/2026 91399CHE4 23,333.62 US TREASURY STATE 05/01/2051 100.000 0.00% (23,333.62) 0.00 0.00 0.00
Transfer In 03/02/2026 91399CKK6 57,749.38 US TREASURY STATE 05/01/2051 100.000 0.00% (57,749.38) 0.00 0.00 0.00
Transfer In 03/31/2026 91399CHE4 14,965.88 US TREASURY STATE 05/01/2051 100.000 0.00% (14,965.88) 0.00 0.00 0.00
Transfer In 03/31/2026 91399CKK6 64,392.34 US TREASURY STATE 05/01/2051 100.000 0.00% (64,392.34) 0.00 0.00 0.00
Total Transfer In 370,167.09 (370,167.09) 0.00 0.00 0.00 TOTAL
DISPOSITIONS 370,167.09 (370,167.09) 0.00 0.00 0.00

DISPOSITIONS
Sale 02/24/2026 91399CJM4 (4,134,912.52) US TREASURY STATE 05/01/2051 100.000 0.00% 4,134,912.52 0.00 4,134,912.52 21,479.30 Sale 02/24/2026 91399CHE4 (5,411,214.87) US TREASURY STATE 05/01/2051 100.000 0.00% 5,411,214.87 0.00 5,411,214.87 13,540.87 Total Sale (9,546,127.39) 9,546,127.39 0.00 9,546,127.39 35,020.17 TOTAL
DISPOSITIONS (9,546,127.39) 9,546,127.39 0.00 9,546,127.39 35,020.17 52

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IMPORTANT DISCLOSURES
2026 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 Indices, 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 investments are subject to interest, credit and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise. Credit risk: the possibility that the borrower may not be 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.

LGIP Yields: Reported yields for local government investment pools may be presented as either the 30-day yield or the monthly distribution yield, as applicable. For certain funds, the 30-day yield is calculated using reported daily yield data. Yield calculations are subject to change and may not be directly comparable across funds.

LAIF Yields: Additional Disclosure for CA Clients - As a result of a reporting lag from the Local Agency Investment Fund (LAIF), reported LAIF yields represent the most recently available Daily Effective Yield and may reflect data from approximately 7–10 days prior to month-end. 53

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BENCHMARK DISCLOSURES
Benchmark Disclosure
ICE BofA 1-5 Yr Unsubordinated US
Treasury & Agency Index
The ICE BofA 1-5 Year Unsubordinated 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. 54

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INVESTMENT REPORT
City of Vallejo | Council Report | As of March 31, 2026 CHANDLER ASSET MANAGEMENT | chandlerasset.com
Chandler Team:

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TABLE OF CONTENTS

ECONOMIC UPDATE

ACCOUNT PROFILE
1

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ECONOMIC UPDATE
2

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ECONOMIC UPDATE
3

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-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%

2.0%

4.0%

6.0%

8.0%

10.0%

4.3%, though partly from a labor force reduction rather than a hiring acceleration. Meanwhile, the underemployment rate edged up to

8.0% from 7.9% in February. Average hourly earnings rose 0.2% over the month and 3.5% year over year—the slowest annual pace since May 2021.

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

EMPLOYMENT
4

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Source: US Department of Labor

JOB OPENINGS & LABOR TURNOVER SURVEY
5

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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%

3.0% in December, driven largely by higher healthcare services costs.

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

INFLATION
6

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0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

CONSUMER
7

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-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

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

LEADING INDICATORS OF ECONOMIC ACTIVITY
8

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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
9

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

EXPANDING

The prices subindex leaped to 78.3 from 70.5, reflecting elevated energy costs, metals tariffs, and Iran-related supply disruptions.

Source: Institute for Supply Management

SURVEY BASED MEASURES
10

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Components of GDP 3/25 6/25 9/25 12/25

0.4% 1.7% 2.3% 1.3%

3.8% -2.7% 0.0% 0.6%
-4.7% 4.8% 1.6% -0.2%
-0.4% -0.4% 0.2% -1.2%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

GROSS DOMESTIC PRODUCT (GDP)
11

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FEDERAL RESERVE

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
Effective Federal Funds Rate
Recession
Yield (%)
12

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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 (%)

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%

BOND YIELDS
13

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ACCOUNT PROFILE
14

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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. 15

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STATEMENT OF COMPLIANCE
City of Vallejo | Account #260 | As of March 31, 2026
Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES
Max % (MV) 50.0 8.4 Compliant
Max % Issuer (MV) 30.0 8.4 Compliant
Max Maturity (Years) 5.0 4.8 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV) 20.0 3.2 Compliant
Max % Issuer (MV) 5.0 0.5 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

COLLATERALIZED TIME DEPOSITS (NON-

NEGOTIABLE CD/TD)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 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 Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 26.2 Compliant
Max % Issuer (MV) 5.0 1.3 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant
16

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