!tem Na, 5
AGENDA REPORT
DATE: September 8, 2025
TO: Honorable Mayor and City Council
FROM: Jennifer Crawford, Interim City I pager/ Treasurer Phil White, Director of Finance
SUBJECT: Monthly Treasurer's Report July 2025
RECOMMENDATION:
That the City Council receive and file the Monthly Treasurer's Report for July 2025.
BACKGROUND/DISCUSSION:
To comply with the requirements of California Government Code Section 53607 and the recommendation of California Government Code Section 53646, a treasurer's report is submitted to the Council monthly.
It is the responsibility of the Finance staff to develop the Monthly Treasurer's Report in a timely manner for review by the City Manager/Treasurer, and ultimately the City Council. It is the function of the Treasurer to deposit and invest funds in accordance with the Investment Policy of the City of Yucaipa to achieve the stated objectives of preservation of capital, liquidity, and return on investment. The purpose of the Monthly Treasurer's Report is to provide the City Council with a snapshot of the City's investment portfolio. The balances included in the Monthly Treasurer' s Report represent the market value of the City's investments.
The City utilizes the Monthly Treasurer's Report as one tool to monitor fiscal performance. The City's net position or fund balance (equity) is comprised of assets less liabilities. The portfolio is just one component of assets. The portfolio balance will fluctuate based on investment performance (yield) as well as the timing of cash inflows (revenue collection) and cash outflows (expenditure payments).
The yield for the investment held with the Local Agency Investment Fund (LAIF) was 4.258% in July.
While the City does not have outstanding debt related to bond issuances, the City acts in a fiduciary capacity for the Successor Agency to the former redevelopment Agency and the Chapman Heights Community Facilities District, both of which maintain outstanding bonds. The City pools cash and investments of all funds, except for assets related to the bond issuances of the Successor Agency and
Community Facilities District which are required to be held in separate accounts with fiscal agents in accordance with the bond indentures.
As required by the Investment Policy, the attached Monthly Treasurer's Report includes a certification that (1) All investment actions executed since the last report have been made in full compliance with the Investment Policy; and (2) the City will meet its expenditure obligations for the next six months.
FISCAL IMPACT:
The recommendation does not result in a fiscal impact.
Attachment(s):
1. Treasurer Report — July
2. Treasurer Managed Portfolio Summary — July
3. LAIF Quarterly Interest Statement — July
4. Wells Fargo Operating Account — July
5. Investments with Fiscal Agent Summary —July
6. Portfolio Holdings - July
ATTACHMENT 1
City of Yucaipa
Treasurer's Report - July 31, 2025
Attachment 1
Institution/Investment Type
I June 2025
Balance
July 2025 Balance
I
Funds Under Control of the City:
U.S. Bank Investment Account - Managed by Treasurer
Cash and Equivalents
$ 278,700.40
$ 73,579.74
U.S. Government Issues
37,075,669.15
35,508,249.05
Corporate Issues
3,699,408.27
5,426,425.86
Municipal Issues
195,680.50
196,027.50
$ 41,249,458.32
$ 41,204,282.15
Local Agency Investment Fund (LAIF)
$ 15,989,553.03
$ 11,150,883.99
City Checking Account (Wells Fargo)
$ 6,200,101.81
$ 5,531,710.87
Petty Cash / Change Drawers
$ 2,750.00
$ 2,750.00
Total Funds Under Control of the City
$ 63,441,863.16
$ 57,889,627.01
Funds with Fiscal Agents:
Bank of New York Mellon
CFD 98-1 - Municipal Bond Insurance Policy
$ 1.00
$ 1.00
CFD 98-1 - Admin Exp Acct
$ 80,354.58
$ 81,961.67
CFD 98-1 - Principal Acct
$ 201,577.53
$ 199,970.44
CFD 98-1- Special Tax Acct
$ 1,486,500.00
U.S. Bank
RDA 1998 TAB - Blackrock Instl Funds
$ 95.65
$ 39,848.21
RDA 1998 TAB - LAIF
$ 48,561.60
$ 49,093.64
RDA 2004 TAB - Blackrock Instl Funds
$ 160,833.46
$ 508,235.47
RDA 2010 TAB - Blackrock Instl Funds
$ 370,245.20
$ 371,516.66
Total Funds with Fiscal Agents
$ 861,669.02
$ 2,737,127.09
Grand Total
$ 64,303,532.18
$ 60,626,754.10
1. All investment actions executed since the last report have been made in full compliance with the Investment Policy; and
2. The City will meet its expenditure obligations for the next six months. ____.,.;
ATTACHMENT 2
00200701
65- -01-B -82-218-01
0101-11-04304-01
CITY OF YUCAIPA - TREASURER MANAGED
ACCOUNT
embank.
Period from July 1, 2025 to July 31, 2025
ASSET SUMMARY'
.............. ....... .. .
............ ....... ..
ASSETS
07/31/2025
MARKET VALUE
% OF
MARKET
Cash And Equivalents
U.S. Government Issues
Corporate Issues
Municipal Issues
73, 579.74
35, 508, 249.05
5,426,425.86
196,027.50
0.18 85.57
13.08 0.47
Total Assets 41,204,282.15 99.30
Accrued Income
289, 793.42 0.70
Grand Total
41,494,075.57 100.00
BONDS 99.12%
ATTACHMENT 3
8/19/25, 12:18 PM
LAIF Regular Monthly Statement
California State Treasurer
Fiona Ma, CPA
Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
CITY OF YUCAIPA
TREASURER
34272 YUCAIPA BLVD.
YUCAIPA, CA 92399
Account Number
July 2025 Statement
Effective Transaction Trap Confirm
Date Date Type Number
7/14/2025 7/10/2025
7/15/2025 7/14/2025
Account Summary
Total Deposit:
Total Withdrawal:
August 19, 2025
LAIF Home
PMIA Average Monthly.
Yields
Tran Type Definitions
Web
Confirm
Number Authorized Caller Amount
RW 1775607 1736215 PHILLIP WHITE -5,000,000.00
QRD 1780012 N/A SYSTEM 161,330.96
161,330.96 Beginning Balance:
-5,000,000.00 Ending Balance:
15,989,553.03
11,150,883.99
https://lalfms.treasurer.ca.gov/RegularStatement.aspx 1/1
ATTACHMENT 4
Commercial Checking Acct Public Funds
Account number: IN July 1, 2025 - July 31, 2025 • Page 1 of 7
CITY OF YUCAIPA
GENERAL OPERATING ACCOUNT
34272 YUCAIPA BLVD
YUCAIPA CA 92399-2434
Questions?
WELLS
FARGO
Call your Customer Service Officer or Client Services
1-800-AT WELLS (1-800-289-3557)
5:00 AM TO 6:00PM Pacific Time Monday - Friday
Online: wellsfargo.com
Write: Wells Fargo Bank, N.A. (114)
San Francisco Wholesale
PO Box 63020
San Francisco, CA 94163
Account summary
Commercial Checking Acct Public Funds
Account number Beginning balance Total credits
$6,200,101.81 $10,965,879.92
Total debits Ending balance
-$11,634,270.86 $5,531,710.87
C red its
Deposits
Effective Posted
date date
Amount Transaction detail
07/07
07/07
07/08
07/09
07/11
07/15
07/31
530.00
5,322.00
6,993.00
10,158.75
6,960.00
10.00 200.00
Deposit
Deposit
Deposit
Deposit
Deposit
Deposit
Deposit
$30,173.75
Electronic deposits/bank credits
Effective Posted
date date
Amount
Total deposits
Transaction detail
07/01
07/01
07/01
07/02
07/02
07/02
07/02
07/02
07/02
07/02
07/03
07/03
07/03
02010 wells Fargo Banc, N.A.
All rights reserved. Member FDIC.
317.00
3,515.00
117,124.97
99.42 752.20
1,586.00
3,877.00
12,963.58
65,991.35
4,700.60
21.57 112.00
160.00
Paymentech Transfer 250701 Tyler0005037697 Eg Css CA Yucaipa Comm Desktop Check Deposit
Desktop Check Deposit
Stripe Transfer St-x3P4B9C9U3M7 City of Yucaipa
Paymentech Transfer 250702 Tyler0005037697 Eg Css CA Yucaipa Comm Cash Only Customer Deposit
Cash Only Customer Deposit
Paymentech Transfer 250702 Tyler0005037697 Eg Css CA Yucaipa Comm Desktop Check Deposit
ZBA Funding Account Transfer From 4241875095
Cash Only Customer Deposit
Paymentech Transfer 250703 Tyler0005037661 Mun Csh CA Yucaipa Gen American Express Settlement 250702 5647699172 Comm Devt 5647699172 (114)
Sheet Seq - 0038597
Sheet 00001 of 00007
ATTACHMENT 5
City of Yucaipa
Investment with Fiscal Agent Summary
FY 2026
7/31/2024
Bank of New York Mellon CFD 98-1
703130 Special Tax Acct - Invesco Govt Agency Private 1903 $ 1,486,500.00 703132 Principal AC - Cash $ 199,970.44
703132 Principal AC - Municipal Bond Insurance Policy $ 1.00 703170 Admin Exp Acct $ 81,961.67
$ 1,768,433.11
U.S. Bank
RDA 1998 TAB
6711616700 Project Acct - Blackrock Instl Funds $ 0.24
6711616701 Interest Acct - Blackrock Instl Funds $ 39,779.61 6711616702 Principal Acct - Blackrock Instl Funds $ 32.89 6711616703 Sinking Acct - Blackrock Instl Funds $ 35.40 6711616704 Reserve Acct - Blackrock Instl Funds $ 0.07
$ 39,848.21
6711616704 Reserve Acct - LAIF $ 49,093.64
$ 88,941.85
RDA 2004 TAB
6711740700 Project Acct - Blackrock Instl Funds $ 0.12
6711740701 Interest Acct - Blackrock Instl Funds $ 360,429.06 6711740702 Principal Acct - Blackrock Instl Funds $ 242.84 6711740703 Reserve Acct - Blackrock Instl Funds $ 147,563.45 $ 508,235.47
RDA 2010 TAB
6711740705 Reserve Acct - Blackrock Instl Funds $ 371,516.66
ATTACHMENT 6
TIME
VALUE
INVESTMENTS'
FOR INSTITUTIONAL INVESTOR USE ONLY
Portfolio Summary
Wgtd Avg YTM •
Wgtd Avg YTM with Uq. Bal.•
Wgtd Avg YTW ••
Wgtd Avg Mat (no call)
Wgtd Avg Mat with Uq. Bal.
Wgtd Avg Mat (all called)
Market Value 7/31/2025
3.90%
3.60%
3.90%
2.4 yrs
1.71 yrs
2.22 yrs
40,728,442
Par Value
Liquid Balances
Total Par with Uquld Bal.
Current MV with Liquid Bal.
Purchase Yield to Maturity
41,289,877
16,756,175
58,046,052
57,484,617
Yucaipa
Portfolio Composition (incl. Liquid Balances)
Portfolio Ratings (Worst***)
)51q Par Value YTM• Weight
Agencies 12,905,000 4.43% 22.2%
Treasuries 23,215,000 3.67% 40.0%
Certificates of Deposit 1,464,000 4.36% 2.5%
Municipal Bonds 200,000 1.35% 0.3%
Corporate Bonds 3,505,877 3.48% 6.0%
Mortgages
Commercial Paper
Supra Nationals
Total 41,289,877 3.90% 71.1%
Account Name Balance Egg Weight
LAIF 11,150,884 4.26% 19.2%
Wells Fargo 5,531,711 0.00% 9.5%
US Bank Money Market 73,580 4.17% 0.1%
Total liquid Balances
" Purchase Yield to Worst
16,756,175 2.85%
28.9%
0.3% 2.5%
. Agencies
Certificates of Deposit
. Corporate Bonds
. Treasuries
Municipal Bonds
. Liquid Balances
AA . AA.. AA AA- . A+ . A A- BBB NR
••• All ratings are shown in S&P format.
Ratings Do Not include Liquid Balances.
Maturity Distribution
$12.MM
$10.MM
58.MM
56.MM
54.MM
$2.MM
52.0MM
0 - 3mo
$.BMM
3 - 6mo
59.OMM
6-12mo
54.5MM
1 - 2yr
510.7MM
2 - 3yr
57.SMM
3 - 4yr
56.9MM
4 - Syr
$0.0
5 - 7yr
50.0 7-l0yr
Performance versus Benchmark as of 7/31/2025
As of As of
lYr Average 7/31/2025 1Mo Ago 3Mos Ago 6Mos Ago 9Mos Ago 12/31/2024 1Yr Ago 3Yrs Ago SYrs Ago Yield to Maturity:
Portfolio
2-Year Treasury
Fed Funds
n/a 3.90% 3.79% 3.51% n/a n/a n/a n/a n/a n/a
3.98% 3.73% 3.72% 3.60% 4.22% 4.16% 4.25% 4.29% 2.89% 0.11%
4.74% 4.50% 4.50% 4.50% 4.50% 5.00% 4.50% 5.50% 2.50% 0.25% $0.0
Over l0yr
Excluded Securities
Bonds that are not found
will not be shown
Cusco Reason
2 Report Date: 7/31/2025
TVI
TIME
VALUE
INVESTMENTS*
FOR INSTITUTIONAL INVESTOR USE ONLY
Yucaipa
Cash -Flows - from 08/2025 to 07/2026 - Assuming None Called T Pe
Callable
Non -Callable
TOTAL
Par Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 6,005,000 2,032,303 4,326 10,250 26,354 0 18,598 3,923 4,326 10,250 105,421 0 18,598 35,284,877 113,083 167,058 51,935 802,045 229,980 960,118 113,081 1,218,306 541,933 349,978 4,534,389 1,805,609 41,289,877 2,145,386 171,384 62,185 828,399 229,980 978,716 117,004 1,222,632 552,183 455,399 4,534,389 1,824,207 I Interest Payments
250,000
200,000
150,000
100,000
50,000
0 Aug-25
Sep-25
Oct-25
Nov-25
Dec-25
Jan-26
Feb-26
Mar-26
Apr-26
May-26
Jun-26
Jul-26
Principal Payments
5,000,000
4,500,000
4,000,000
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0 Aug-25 Sep-25
Oct-25 Nov-25
Dec-25 Jan-26
Feb-26 Mar-26
Apr-26 May-26
Jun-26 Jul-26
3 Report Date: 7/31/2025
TVI
TIME
VALUE
INVESTMENTS
FOR INSTITUTIONAL INVESTOR USE ONLY
Yucaipa
Cash -Flows - from 08/2025 to 07/2026 - Recognizing Likelihood of Call* Tvce
Callable
Non -Callable
TOTAL
Par Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 JulJul=26 6,005,000 2,032,303 4,326 10,250 26,354 0 18,598 3,923 4,326 10,250 1,105,421 0 818,598 35,284,877 113,083 167,058 51,935 802,045 229,980 960,118 113,081 1,218,306 541,933 349,978 4,534,389 1,805,609 41,289,877 2,145,386 171,384 62,185 828,399 229,980 978,716 117,004 1,222,632 552,183 1,455,399 4,534,389 2,624,207 Interest Payments
250,000
200,000
150,000
100,000
50,000
0 Aug-25
Sep-25
Oct-25
Nov-25
Dec-25
Jan-26
Feb-26
Mar-26
Apr-26
May-26
Jun-26
Jul-26
Principal Payments
5,000,000
4,500,000
4,000,000
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0 Aug-25 Sep-25
• Likelihood based on 07/31/2025 market rates
Oct-25 Nov-25
Dec-25 Jan-26
Feb-26 Mar-26
Apr-26 May-26
Jun-26 Jul-26
4 Report Date: 7/31/2025
TIME
VALUE
INVESTMENTS
FOR INSTITUTIONAL INVESTOR USE ONLY
Yucaipa
Extended Cash -Flows
JI Cuslp r V Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Year 1 Total 1 3133ETGK7•• 2,000,000 2,028,380 c _ c
2 3135G06G3 750,000 0 0 0 751,875 0 0 0 0 0 0 0 0 751,875 3 43815GAC3 2,815 2 2 2 2 2 2,817 0 0 0 0 0 0 2,827
4 91282CBH3 900,000 0 0 0 0 0 901,688 0 0 0 0 0 0 901,688 5 64985TDC2 150,000 0 983 0 0 0 0 0 150,983 0 0 0 0 151,966 6 91282CBT7 1,015,000 0 3,806 0 0 0 0 0 1,018,806 0 0 0 0 1,022,612 7 91282C8W0 490,000 0 0 1,838 0 0 0 0 0 491,838 0 0 0 493,676 8 04636NAA1' 80,000 0 0 0 480 0 0 0 0 0 80,480 0 0 80,960 9 91282CCF6 300,000 0 0 0 1,125 0 0 0 0 0 301,125 0 0 302,250 10 3130B1BT3 4,000,000 0 0 0 0 97,500 0 0 0 0 0 4,097,500 0 4,195,000 11 14317DAC4 1,869 1 1 1 1 1 1 1 1 1 1 1,870 0 1,880
12 345286AC2 2,655 3 3 3 3 3 3 3 3 3 3 2,658 0 2,688
13 91282CCJ8 300,000 0 0 0 0 1,313 0 0 0 0 0 301,313 0 302,626 14 544647FC9 50,000 0 0 0 0 0 364 0 0 0 0 0 50,364 50,728 15 91282CHM6 1,700,000 0 0 0 0 0 38,250 0 0 0 0 0 1,738,250 1,776,500 16 9128282A7 200,000 1,500 0 0 0 0 0 1,500 0 0 0 0 0 3,000 17 05602RAD3 10,030 27 27 27 27 27 27 27 27 27 27 27 27 324 18 02665W0Z1' 125,000 0 813 0 0 0 0 0 813 0 0 0 0 1,626 19 362554AC1 2,355 1 1 1 1 1 1 1 1 1 1 1 1 12
20 98163KAC6 1,980 1 1 1 1 1 1 1 1 1 1 1 1 12
21 448977A00 13,934 26 26 26 26 26 26 26 26 26 26 26 26 312 22 91282CD63 575,000 0 0 3,234 0 0 0 0 0 3,234 0 0 0 6,468 23 025816CM9• 125,000 0 0 0 1,031 0 0 0 0 0 1,031 0 0 2,062 24 91282CDK4 250,000 0 0 0 1,563 0 0 0 0 0 1,563 0 0 3,126 25 24422EWA3 75,000 0 0 0 0 0 638 0 0 0 0 0 638 1,276
26 87612E8M7' 110,000 0 0 0 0 0 1,073 0 0 0 0 0 1,073 2,146 27 06406R844• 100,000 0 0 0 0 0 1,025 0 0 0 0 0 1,025 2,050 28 459200KM2' 135,000 1,485 0 0 0 0 0 1,485 0 0 0 0 0 2,970 29 912828V98 650,000 7,313 0 0 0 0 0 7,313 0 0 0 0 0 14,626 30 362585AC5 12,846 33 33 33 33 33 33 33 33 33 33 33 33 396 31 438516CE4• 100,000 0 550 0 0 0 0 0 550 0 0 0 0 1,100 32 3133EP4U6 1,150,000 0 25,156 0 0 0 0 0 25,156 0 0 0 0 50,312 33 14318MAD1 52,394 173 173 173 173 173 173 173 173 173 173 173 173 2,076 34 665859AW4' 90,000 0 0 0 1,800 0 0 0 0 0 1,800 0 0 3,600 35 91324PE03' 60,000 0 0 0 1,110 0 0 0 0 0 1,110 0 0 2,220 36 912828X88 510,000 0 0 0 6,056 0 0 0 0 0 6,056 0 0 12,112 37 254683C52 125,000 346 346 346 346 346 346 346 346 346 346 346 346 4,152 38 4581406E0,5' 130,000 2,438 0 0 0 0 0 2,438 0 0 0 0 0 4,876 39 9128282R0 4,300,000 48,375 0 0 0 0 0 48,375 0 0 0 0 0 96,750 40 91282CAH4 175,000 438 0 0 0 0 0 438 0 0 0 0 0 876
41 931142EX7' 150,000 0 2,963 0 0 0 0 0 2,963 0 0 0 0 5,926 42 892367KJ3 1,000,000 0 136,500 0 0 0 0 0 22,750 0 0 0 0 159,250 43 91282CGH8 900,000 0 0 0 0 0 15,750 0 0 0 0 0 15,750 31,500 44 91282CGP0 2,000,000 40,000 0 0 0 0 0 40,000 0 0 0 0 0 80,000 5 Report Date: 7/31/2025
TV'
TIME
VALUE
INVESTMENTS
FOR INSTITUTIONAL INVESTOR USE ONLY
Yucaipa
Extended Cash -Flows
JJ Cuslo Par Value Aug-25
45 61690DRP5 244,000 0
46 3130AWC24 300,000 0
47 05612LF09 244,000 0
48 856288BU8 244,000 0
49 61776NTK9 244,000 0
50 919853QU8 244,000 0
51 91282CHK0 500,000 0
52 3133EPA47 1,000,000 0
53 3130AFFX0 300,000 0
54 91282CKP5 2,000,000 0
55 07371BW0 244,000 0
56 91282CEV9 4,000,000 0
57 91282CFJ5 950,000 14,844
58 91282CG81 1,500,000 0
59 76116FAB3 1,000,000 0
60 76116FAC1 605,000 0
6192826CAM4• 1,000,000 0
62 3134H60W4•' 1,000,000
63 3136GAKW8'• 800,000
Sep-25
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 Oct-25
0 0
0 0
0 0
0 0
0 46,250
0 0
0 0
0 0
10,250
Nov-25
5,843
0 0
0 0
0 0
24,375
4,875
0 5,720
0 0
0 0
0 0
Dec-25
0 6,000
4,955
5,260
5,199
5,077
10,000
0 0
0 0
65,000
0 29,063
0 0
0 Jan-26
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 Feb-26
0 0
0 0
0 0
0 0
0 0
0 0
14,844
0 0
0 0
Mar-26
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 Apr-26
0 0
0 0
0 0
0 0
0 46,250
0 0
0 0
0 0
10.250
Mav-26
5,747
0 0
0 0
0 0
24,375
4,875
0 5,626
0 0
0 0
0 0
Jun-26
0 6,000
4,927
5,232
5,171
5,049
10,000
0 0
0 0
65,000
0 29,063
0 0
0 �uI-26 Year 1 Total
O 11,590
O 12,000
O 9,882
O 10,492
O 10,370
O 10,126
O 20,000
O 48,750
O 9,750
O 92,500
O 11,346
O 130,000
O 29,688
O 58,126
O 0
O 0
O 20,500
ITOTAL 41,289,877 2,145,386 171,384 62,185 828,399 229,980 978,716 117,004 1,222,632 552,183 1,455,399 4,534,389 2,624,207 14,921,864 • Callable - currently not likely to be called See Cosh -Flows graph above "Recognizing Likelihood of Call" for current projected cash -flows • • Callable - currently likely to be called
6 Report Date: 7/31/2025
TVI
TIME
VALUE
INVESTMENTS
FOR INSTITUTIONAL INVESTOR USE ONLY
Yucaipa
Maturity Distribution
30%
25%
20%
15%
10%
5%
4.8%
0 - 3mo
1.8%
3 - 6mo
21.8%
6 - 12mo
10.8%
1. 2yr
25.9%
2.3yr
18.3%
3. 4yr
16.6%
4 - Syr
0.0%
s• 7yr
0.0%
7 - l0yr
0.0%
Over 10yr
Portfolio Details - Sorted by Maturity
Estimated Esdmated
a CUSIP/Set-ID 5ec Des( 1 Weight Par Value Coupon • SBttk tD Mat Dt Nxt Call Dt Retina • • • YTM •• YEW •• Clulekpl 0 Total liquid Balances 28.9% 16,756,175
1 3133ETGK7 FFCB 3.4% 2,000,000 4.730 5/15/2025 8/25/2025 AA+ 4.73 4.73 0.07 Anytime Bond Called 8/25/2025 2 3135G0663 FEDL NATL MTG ASSN SER BENCHM 1.3% 750,000 0.500 8/1/2024 11/7/2025 AA+ 4.63 4.63 0.26 11/7/2025 3 43815GAC3 HONDA AUTO REC OWNR SER 2021-4 0.0% 2,815 0.880 2/28/2023 1/21/2026 AAA 0.89 0.89 0.47 1/21/2026 4 91282CBH3 T 1.6% 900,000 0.375 2/28/2023 1/31/2026 AAA 0.85 0.85 0.49 1/31/2026 5 64985TDC2 NEW YORK ST URBAN DEV CORPS 0.3% 150,000 1.310 2/28/2023 3/15/2026 NR 1.31 1.31 0.60 3/15/2026 6 91282CBT7 T 1.7% 1,015,000 0.750 2/28/2023 3/31/2026 AAA 1.07 1.07 0.65 3/31/2026 7 91282C8W0 T 0.8% 490,000 0.750 2/28/2023 4/30/2026 AAA 0.58 0.58 0.73 4/30/2026 8 04636NAA1 ASTRAZENECA FINANCE LLC NOTE 0.1% 80,000 1.200 2/28/2023 5/28/2026 4/28/2026 A* 1.17 1.17 0.82 Anytime 5/28/2026 9 91282CCF6 T 0.5% 300,000 0.750 2/28/2023 5/31/2026 AM 0.82 0.82 0.82 5/31/2026 10 313081BT3 FEDERAL HOME LOAN BANKS BOND 6.9% 4,000,000 4.875 5/17/2024 6/12/2026 AA+ 4.76 4.76 0.83 6/12/2026 11 14317OAC4 CARMAX AUTO OWN TR SER 2021-3 0.0% 1,869 0.550 2/28/2023 6/15/2026 AAA 0.56 0.56 0.87 6/15/2026 12 345286AC2 FORD CR AUTO OWN TR SER 2022-A 0.0% 2,655 1.290 2/28/2023 6/15/2026 AAA 1.29 1.29 0.86 6/15/2026 13 91282CCJ8 TREAS SER AA-202 0.5% 300,000 0.875 2/28/2023 6/30/2026 AAA 3.11 3.11 0.90 6/30/2026 14 544647FC9 LOS ANGELES CALIF UNI SCH DI 0.1% 50,000 1.455 2/28/2023 7/1/2026 NR 1.46 1.46 0.89 7/1/2026 15 91282CHM6 TREAS SER AQ-202 2.9% 1,700,000 4.500 7/9/2024 7/15/2026 AAA 4.56 4.56 0.93 7/15/2026 16 9128282A7 T 0.3% 200,000 1.500 2/28/2023 8/15/2026 AAA 3.37 3.37 1.01 8/15/2026 17 05602RA03 BMW VEHICLE OWNER TRSER 2022-A 0.0% 10,030 3.210 2/28/2023 8/25/2026 AAA 3.21 3.21 1.04 8/25/2026 18 02665WDZ1 AMERICAN HONDA FIN CORP SER 0.2% 125,000 1.300 2/28/2023 9/9/2026 8/25/2025 A- 1.72 1.72 1.09 Anytime 9/9/2026 19 362554AC1 GM FIN CONS AUTO RECSER 2021-4 0.0% 2,355 0.680 2/28/2023 9/16/2026 AAA 0.68 0.68 1.12 9/16/2026 20 98163KAC6 WORLD OMNI AUTO REC SER 2021-D 0.0% 1,980 0.810 2/28/2023 10/15/2026 AAA 0.81 0.81 1.20 10/15/2026 21 448977A00 HYUNDAI AUTO REC TR SER 2022-A 0.016 13,934 2.220 2/28/2023 10/15/2026 AAA 2.22 2.22 1.19 10/15/2026 22 91282CDG3 T 1.0% 575,000 1.125 2/28/2023 10/31/2026 AAA 2.43 2.43 1.22 10/31/2026 23 025816CM9 AMERICAN EXPRESS CO NOTE 0.2% 125,000 1.650 2/28/2023 11/4/2026 10/4/2026 A- 1.85 1.85 1.24 Anytime 11/4/2026 24 91282CDK4 TREAS NTS 0.4% 250,000 1.250 2/28/2023 11/30/2026 AAA 1.17 1.17 1.30 11/30/2026 25 24422EWA3 JOHN DEERE CAPITAL CORPORATIO 0.1% 75,000 1.700 2/28/2023 1/11/2027 A 1.85 1.85 1.42 1/11/2027 26 87612EBM7 TARGET CORP NOTE CALL 0.2% 110,000 1.950 2/28/2023 1/15/2027 12/15/2026 A 1.91 1.91 1.43 Anytime 1/15/2027 27 06406R8A4 BANK NEW YORK MELLONCORP SER1 0.2% 100,000 2.050 2/28/2023 1/26/2027 12/24/2026 A 2.02 2.02 1.46 Anytime 1/26/2027 28 459200KM2 INTERNATIONAL BUSINESS M 0.2% 135,000 2.200 2/28/2023 2/9/2027 1/9/2027 A- 2.53 2.53 1.47 Anytime 2/9/2027 29 912828V98 T 1.1% 650,000 2.250 2/28/2023 2/15/2027 AAA 2.95 2.95 1.48 2/15/2027 30 362585AC5 GM FIN CONS AUT REC SER 2022-2 0.0% 12,846 3.100 2/28/2023 2/16/2027 AAA 3.11 3.11 1.49 2/16/2027 CaII TYDe tips to Call Redem. Date
7 Report Date: 7/31/2025
T /1 I TIME
`�'\v/ VALUE
INVESTMENTS
Yucaipa
Portfolio Details - Sorted by Maturity
31 438516CE4
32 3133EP4U6
33 14318MAD1
34 665859AW4
35 91324PEG3
36 912828X88
37 254683C52
38 458140BY5
39 9128282R0
40 91282CAH4
41 931142EX7
42 89236TK13
43 91282CGH8
44 91282CGP0
45 61690DRP5
46 3130AWC24
47 056121FD9
48 856288BU8
49 61776NTK9
50 919853QU8
51 91282CHK0
52 3133EPA47
53 3130AFFX0
54 91282CKP5
55 07371BVV0
56 91282CEV9
57 91282CF15
58 91282CGB1
59 76116FAB3
60 76116FAC1
61 92826CAM4
62 3134HBQW4
63 3136GAKW8
HONEYWELL INTL INC NOTE CALL
FFCB
CARMAX AUTO OWNER SER 2022-3
NORTHERN TR CORP NOTE
UNITEDHEALTH GROUP INC NOTE
TREAS SER C-2027
DISCOVER CARD EXE NTSER 2022-2
INTEL CORP NOTE CALL
T
TREAS SER P-2027
WALMART INC NOTE CALL
TOYOTA MTR CR CORP NT
TREAS SER U-2028
MORGAN STANLEY BK N A CD
FEDERAL HOME LOAN BANKS
BMW BK CERT DEP
STATE BK INDIA CTF DEP
MORGAN STANLEY PVT BK CTF DEP
VALLEY NATL BK CTF DEP
TREAS SER AA-202
FFCB
FEDERAL HOME LOAN BANK 4973
TREAS SER Y-2029
XD BK PLANO TEX CD
TREAS SER M-2029
TREAS SER P-2029
TREAS SER T-2029
RFCSP
RFCSP
VISA INC NOTE CALL
FHLMC
FNMA
0.2% 100,000 1.100 2/28/2023 3/1/2027 2/1/2027 A 2.33 2.33 1.56
2.0% 1,150,000 4.375 6/12/2025 3/8/2027 AA+ 3.85 3.85 1.51
0.1% 52,394 3.970 2/28/2023 4/15/2027 AAA 3.97 3.97 1.64
0.2% 90,000 4.000 2/28/2023 5/10/2027 4/10/2027 A 3.75 3.74 1.68
0.1% 60,000 3.700 2/28/2023 5/15/2027 4/15/2027 A 3.56 3.56 1.70
0.9% 510,000 2.375 2/28/2023 5/15/2027 AA+ 3.46 3.46 1.72
0.2% 125,000 3.320 2/28/2023 5/17/2027 MA 3.32 3.32 1.72
0.2% 130,000 3.750 2/28/2023 8/5/2027 7/5/2027 BBB 3.72 3.72 1.89
7.4% 4,300,000 2.250 7/9/2024 8/15/2027 AAA 4.41 4.41 1.95
0.3% 175,000 0.500 2/28/2023 8/31/2027 AAA 3.93 3.93 2.03
0.3% 150,000 3.950 2/28/2023 9/9/2027 8/9/2027 AA 3.91 3.91 1.97
1.7% 1,000,000 4.550 7/29/2025 9/20/2027 NR 4.06 4.06 1.98
1.6% 900,000 3.500 1/18/2024 1/31/2028 AA+ 4.04 4.04 2.37
3.4% 2,000,000 4.000 1/30/2024 2/29/2028 AAA 4.14 4.14 2.40
0.4% 244,000 4.750 5/30/2024 5/30/2028 NR 4.75 4.75 2.61
0.5% 300,000 4.000 2/13/2024 6/9/2028 AA+ 4.18 4.18 2.66
0.4% 244,000 4.050 6/13/2025 6/13/2028 NR 4.05 4.05 2.67
0.4% 244,000 4.300 6/16/2025 6/16/2028 NR 4.30 4.30 2.67
0.4% 244,000 4.250 6/18/2025 6/20/2028 NR 4.25 4.25 2.68
0.4% 244,000 4.150 6/17/2025 6/20/2028 NR 4.15 4.15 2.68
0.9% 500,000 4.000 3/13/2024 6/30/2028 AAA 4.17 4.17 2.72
1.7% 1,000,000 4.875 6/12/2025 11/1/2028 AA+ 3.88 3.88 2.95
0.5% 300,000 3.250 2/13/2024 11/16/2028 AA+ 4.08 4.08 3.07
3.4% 2,000,000 4.625 5/15/2025 4/30/2029 AA+ 3.98 3.98 3.38
0.4% 244,000 4.650 6/5/2024 5/30/2029 NR 4.65 4.65 3.45
6.9% 4,000,000 3.250 10/25/2024 6/30/2029 AAA 3.98 3.98 3.63
1.6% 950,000 3.125 11/21/2024 8/31/2029 AAA 4.23 4.23 3.74
2.6% 1,500,000 3.875 2/5/2025 12/31/2029 AA+ 4.30 4.30 4.01
1.7% 1,000,000 0.000 5/15/2025 1/15/2030 AA+ 4.25 4.25 4.36
1.0% 605,000 0.000 7/29/2025 4/15/2030 AA+ 4.10 4.10 4.60
1.7% 1,000,000 2.050 4/30/2025 4/15/2030 1/15/2030 AA- 4.12 4.12 4.44 Anytime
1.7% 1,000,000 4.200 5/15/2025 5/20/2030 5/20/2026 AA+ 4.30 4.30 0.77 Annually
1.4% 800,000 4.125 7/29/2025 7/29/2030 7/29/2026 AA+ 4.21 4.21 0.96 Quarterly Anytime
Anytime
Anytime
Anytime
Anytime
3/1/2027
3/8/2027
4/15/2027
5/10/2027
5/15/2027
5/15/2027
5/17/2027
8/5/2027
8/15/2027
8/31/2027
9/9/2027
9/20/2027
1/31/2028
2/29/2028
5/30/2028
6/9/2028
6/13/2028
6/16/2028
6/20/2028
6/20/2028
6/30/2028
11/1/2028
11/16/2028
4/30/2029
5/30/2029
6/30/2029
8/31/2029
12/31/2029
1/15/2030
4/15/2030
4/15/2030
9 5/20/2026
1 7/29/2026
TOTAL and AVERAGES
100.0% 58,046,052 2.4 yrs 2.22 yrs
3.90 3.90 2.09
• Semi -Annual interest payment
•• Yields calculated using cost price, at settlement date • • • Ratings Shown Are: Lowest Rating in S&P format, NR AGY = Non -Rated U.S. Government Agency 8 Report Date: 7/31/2025