CITY OF
c
DATE:
TO:
FROM:
PREPARED BY
STAFF REPORT
March 09, 2026
Honorable Mayor and Cit
Dr. Sean M. Moore, City
Phil White, Director of Fi
SUBJECT: Monthly Treasurer's Report — January 2026
RECOMMENDATION:
That the City Council:
Item No. Z
1. Receive and file the Monthly Treasurer's Report for January 2026; or
2. Provide further direction to staff.
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 3.931 % in January.
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 recommendations do not result in a fiscal impact.
Attachment(s):
l . Treasurer Report — January
2. Treasurer Managed Portfolio Summary — January
3. LAIF Quarterly Interest Statement — January
4. Wells Fargo Operating Account — January
5. Investments with Fiscal Agent Summary — January
6. Portfolio Holdings - January
ATTACHMENT 1
City of Yucaipa
Treasurer's Report - January 31, 2026
Attachment 1
December 2025
January 2026
Institution/Investment Type
Balance
Balance
Funds Under Control of the City:
U.S. Bank Investment Account - Managed by Treasurer
Cash and Equivalents
$
326,733.61
$
66,797.12
U.S. Government Issues
35,111,317.15
35,415,216.25
Corporate Issues
6,547,791.54
6,542,776.68
Municipal Issues
198,672.50
199,105.00
$
42,184,514.80
$
42,223,895.05
Local Agency Investment Fund (LAIF)
$
4,780,357.51
$
19,854,492.59
City Checking Account (Wells Fargo)
$
15,269,064.93
$
3,984,659.14
Petty Cash / Change Drawers
$
2,750.00
$
2,750.00
Total Funds Under Control of the City
$
62,236,687.24
$
66,065,796.78
Funds with Fiscal Agents:
Bank of New York Mellon
CFD 98-1 - Municipal Bond Insurance Policy
$
1.00 $
1.00 CFD 98-1 - Cash
$
281,932.11
$
466,682.11
U.S. Bank
RDA 1998 TAB - Blackrock Instl Funds
$
192.66
$
3,919.01
RDA 1998 TAB - LAIF
$
49,629.93
$
50,154.70
RDA 2004 TAB - Blackrock Instl Funds
$
152,074.17
$
296,362.72
RDA 2010 TAB - Blackrock Instl Funds
$
377,876.37
$
379,062.35
Total Funds with Fiscal Agents
$
861,706.24
$
1,196,181.89
Grand Total
$
63,098,393.48
$
67,261,978.67
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 s Treasurer:
ATTACHMENT 2
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ATTACHMENT 3
2/18126, 6:07 PM
LAIF Regular Monthly Statement
California Mate TreaSLlrer
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: 98-36-999
January 2026 Statement
Tran
Effective
Transaction
Confirm
Type
Date
Date
Number
1/6/2026
1/5/2026
RD
1788695
1/15/2026
1/15/2026
QRD
1793440
1/30/2026
1/29/2026
RD
1794216
Account Summary
February 18, 2026
LAIF Home
PMIA Average Monthly_
Yields
Tran Type Definitions
Web
Confirm
Number Authorized Caller
1749328 PHILLIP WHITE
N/A SYSTEM
1754856 PHILLIP WHITE
Total Deposit: 15,074,135.08
Total Withdrawal: 0.00
Beginning Balance:
Ending Balance:
Amount
10,000,000.00
74,135.08
5,000,000.00
4,780,357.51
19,854,492.59
https://Iaifms.treasurer.ca.gov/RegularStatement.aspx 1/1
ATTACHMENT 4
Commercial Checking Acct Public Funds
Account number: ■ January 1, 2026 - January 31, 2026 ■ Page 1 of 6
CITY OF YUCAIPA
GENERAL OPERATING ACCOUNT
34272 YUCAIPA BLVD
YUCAIPA CA 92399-2434
Account summary
Commercial Checking Acct Public Funds
Questions?
Call your Customer Service Officer or Client Services
1-800-AT WELLS (1-800-289-3557)
S:00 AM TO 6:00 PM Pacific Time Monday - Friday
Online: wellsforgo.com
Write: Wells Fargo Bank, N.A. (114)
San Francisco Wholesale
PO Box 63020
San Francisco, CA 94163
Accountnumber Beginning balance Total credits Total debits Ending balance $15,269,064.93 $6,644,518.27-$17,928,924.06 $3,984,659.14 Credits
Deposits
Effective Posted
date date
Amount
Transaction detail
01/09
1,360.00
Deposit
01/09
1,760.00
Deposit
01 /27
10.00 Deposit
01 /27 01 /28
175.00
Reversal of Check Posted 1-27-26 Refer to Maker Our Ref: 1-27-26 00000000 $3,305.00 Total deposits
Electronic deposits/bank credits
Effective Posted
date date
Amount
Transaction detail
01/02
206.00
American Express Settlement 251231 5647699172 Comm Devt 5647699172 01 /05
6,267.58
Paymentech Transfer 260105 Tyler0005037697 Eg Css CA Yucaipa Comm 01/05
23,162.35
Desktop Check Deposit
01 /05
108,218.29
Apport St of CA Apsapports 123025 1927 Yucaipa City Treasurer 01 /06
438.00
Paymentech Transfer 260106 Tyler0005037697 Eg Css CA Yucaipa Comm 01 /06
35,100.14
County of San Be Achpayment 2008754824 City of Yucaipa
01 /06
149,409.99
Desktop Check Deposit
01/07
21.55 American Express Settlement 260106 5647699297 General Bi115647699297 01/07
70.00 Cash Only Customer Deposit
01/07
569.00
Paymentech Transfer 260107 Tyler0005037697 Eg Css CA Yucaipa Comm 01/07
581.50
Cash Only Customer Deposit
01/07
1,085.00
Cash Only Customer Deposit
01/07
23,784.76
Desktop Check Deposit
01/07
1,569.79
ZBA Funding Account Transfer From 4241875095
01/08
206.00
Paymentech Transfer 260108 Tyler0005037661 Mun Csh CA Yucaipa Gen 01 /08
686.00
American Express Settlement 260107 5647699172 Comm Devt 5647699172 82010 Wells Fargo Bank, N.A.
All rights reserved. Member FDIC.
(114)
Sheet Seq — 0036827
Sheet 00001 of 00006
ATTACHMENT 5
City of Yucaipa
Investment with Fiscal Agent Summary
FY 2026
1/31/2026
Bank of New York Mellon CFD 98-1
703130 Special Tax Acct - Cash $ 384,720.44
703132 Principal AC - Municipal Bond Insurance Policy $ 1.00 703170 Admin Exp Acct - Cash $ 81,961.67
$ 466,683.11
U.S. Bank
RDA 1998 TAB
6711616700 Project Acct - Blackrock Instl Funds
$
0.24 6711616701 Interest Acct - Blackrock Instl Funds
$
3,850.00
6711616702 Principal Acct - Blackrock Instl Funds
$
0.24 6711616703 Sinking Acct - Blackrock Instl Funds
$
68.46 6711616704 Reserve Acct - Blackrock Instl Funds
$
0.07 $
3,919.01
6711616704 Reserve Acct - LAIF
$
50,154.70
$
54,073.71
RDA 2004 TAB
6711740700 Project Acct - Blackrock Instl Funds
$
0.12 6711740701 Interest Acct - Blackrock Instl Funds
$
145,606.27
6711740702 Principal Acct - Blackrock Instl Funds
$
195.79
6711740703 Reserve Acct - Blackrock Instl Funds
$
150,560.54
$ 296,362.72
RDA 2010 TAB
6711740705 Reserve Acct - Blackrock Instl Funds $ 379,062.35
ATTACHMENT 6
T_V /� TIM
�VALEE
INVESTMENTSW
FOR INSTITUTIONAL INVESTOR USE ONLY
Yucaipa
1.3%0.9% 0.2%
Wgtd Avg YTM • 3.95% Sector Par Value YTM • Weight
igo
Wgtd AvgYTM with Liq. Bal.• 3.71% Agencies 12,1$5,000 4.4D% 18.6% 24%Wgtd Avg YTW•• 3.92% Treasuries 22,315,000 3.16% 3.8% 0.4 Wgtd Avg Mat (no call( 2.09 yrs Certificates of Deposit 2,452,000 4.16% 3.8% Wgtd Avg Mat with Liq. Rai. 1.32 yrs Municipal Bonds 200,000 1.35% 0.3% Wgtd Avg Mat (all called( 1.97 yrs Corporate Bonds 4,353,063 3.60% 6.7% 0 -, Wma Mortgages
Commercial Paper
Market Value 1/31/2026 42,157,09E Supra Nationals i4j
Total 41,475,053 3.95% 63.4%
Account Name Balance Rate Weight 0.3%
Par Value 41,475,063 LAIF 19,854,493 3.93% 30.4% „Agencies 33% .Treasuries Liquid Balances 23,905,949 Wells Fargo 3,984,659 0.00% 6.1% Total Parwith Liquid Rai. 65,381,012 US Bank Money Mkt 66,797 3.58% 0.1% Certlficates of Deposit • Munlcipal Bonds Current MV with Liquid gal. 66,063,047 • Corporate Bonds • Uquld Balances AA ° M. AA M- • A. a A A. BBB NR Total Liquid Balances Z3,905,949 3.27% 36.6% ••• All ratings ore shown in S&Pformat.
Purchase Yield to Maturity •' Purchase Held to Worst Ratings Do Not Include Liquid Balances.
DistributionMaturity
$13.MM
$]a.MM $9.SMM 64.7MM
$e.MM
$6AMM $6.1MM
$b.MM
S45MM
$4.MM S3.7MM
S2.MM 51.6MM
SOD Sao
� I
0-3mo 3-6mo 6-12mo 1-2yr 2-3yr 3-4yr 4-5yr 5-7yr 7-11hyr Over 10yr Bonds that are not found
As of
As of
will not be shown
1Yr Average
1/31/2026
1Mo Ago
Was Ago
Was Ago
Was Ago
12/31/2025
1Yr Ago
3Yrs AS.
SYn Ago CusjP Rea an
Yield to Maturity:
Portfolio
n/a
3.95%
3.89%
3.9D%
3.62%
3.51%
n/a
n/a
n/a
n/a
2-Year Treasury
3,74%
3.47%
3.47%
3.60%
3.94%
3.60%
3.47%
4,22%
4.21%
0,11%
Fed Funds
4,31%
3.75%
3.75%
4.00%
4.50%
4.50%
3,75%
4.50%
4.50%
0,25%
2 Report Date: 1/31/2026
TIME
T ♦ 1 VALUE
INVESTMENTS
Yucaipa
FOR INSTITUTIONAL INVESTOR USE ONLY
r Cash -Flows - from 1 I 01/2027 - Assuming None Called Tvce Par F 2 Mar-26 Ayr-26 ,May-26 Jun-26 1u1-26 Aug-26 54o-26 oct-26 Nov-26 Dec-26 1 n- 7 ■Callable 7,005,000 2,051,972 27,076 10,250 105,421 0 18,598 3,923 152,076 10,250 149,941 0 228,598 250,000
200,000
150,000
100,000
50,000 ` = .■
0 ,
1im,
Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Ault-26 Sep-26 Oct-26 Nav-26 Dec-26 Jan-27 5,000.000
4,500,000
4,000,000
3,500,000
3,000,000
2,500,000
2,000,WO
1,500,000
1,000,000
500,000
0 Feb-26 Mar-26 Apr-26 Wy.26 Jun-26
3 JW-26 Aug-26 Sep-26 Oct-26 Nav-26 Dec-26 J-27
Report Date:1/31/2026
TIME
PA INVES
TMENTS
Yucaipa
FOR INSTITUTIONAL INVESTOR USE ONLY
01/2027
- Recognizing
Likelihood
of Call*
Type
par
Feb-26
Mar-26
Apr-26
May-26
Jurr26
lul-25
Aug-26
Sep26
Oct-26
Nov-26
Dec-26
lan-27
i1ACallable
7,005,000
2,051,972
27,076
10,250
1,105,421
0 818,598
3,923
152,076
10,250
128,941
0 212,098
Non -Callable
34,470,063
124,256
1,197,036
562,166
351,564
4,536,028
1,807,195
334,100
29,730
661,156
300,623
132,692
93,579
TOTAL
41,475,063
2,176,228
1,224,112
572,416
1,456,985
4,536,029
2,625,793
339,023
181,906
671,406
429,564
132,692
305,677
250,000
200,000
150,OD0
100,000
�0
� ■ _
Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Oct-26 Nov-26 Dec-26 Jan-27 Principal Payments
5,000,000
4,500,000
4,000,000
3,500,000 -.
3,000,000
2,500,000
2,000,000 j
1,500,000 I
1.000,000
500,000
Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Oct-26 Nav-26 Dec-26 Jan-27 `Likelihood based on 0113112026 market rates
4 Report Date: 1/31/2026
TIME Yucaipa
ri V,,
INVESTMENTS w
FOR INSTITUTIONAL INVESTOR USE ONLY
ICusin
'Value
Feb-26
Mar-2
Apr-26
M.Y-26
Jun-26
Jul-26
AW-26
Seu26
Od-26
Nov-26
Dec-26
Jan-27
Year1TV1
1 31424WR20'"
2,000,000
_..
0 0
1 0
0 0
0 0
2,048,049
2 6499STDC2
150,000
0 15O,993
0 0
0 0
0 0
0 0
0 0
150,983
3 91282CBT7
1,015,000
0 11018,806
0 0
0 0
0 0
0 0
0 0
1,018,806
4 91232CBWO
490,0D0
0 0
491,838
0 0
0 0
0 0
0 0
0 491,938
5 O4636NAA1'
80,000
0 0
0 60,460
0 0
1 0
1_
0 80,480
6 91282CCF6
300,000
0 0
0 301,125
0 0
0 0
0 0
0 0
301,125
7 3130BIBT3
4,000,000
0 0
0 0
4,097,500
0 0
0 0
0 0
0 4,097,500
814317DAC4
1,869
1 1
1 1
1,870
0 0
0 0
0 0
0 1,874
9 345286AC2
2,655
3 3
3 3
2,658
0 0
0 0
0 0
0 2,670
10 91282CC18
300,000
0 0
0 0
301,313
0 0
0 0
0 0
0 301,313
11544647FC9
50,D00
0 0
0 0
0 50,364
0 0
0 0
0 0
50,364
12 91282CHMG
1,700,000
0 0
0 0
0 1,738,250
0 0
0 0
0 0
1,738,250
13 9128282A7
200,000
1,500
0 0
0 0
0 201,500
0 0
0 0
0 203,OD0
14 O56O2RAD3
10,030
27 27
27 27
27 27
10,057
0 0
0 0
0 10,219
15 02665WDZ1'
125,D00
0 -
0 0
0 0
J
125,813
0 126,626
16 362554ACI
2,355
1 1
1 1
1 1
1 2,356
0 0
0 0
2,363
17 449977ADO
13,934
26 26
26 26
26 26
26 26
13,960
0 0
0 14,168
18 98163KAC6
1,980
1 1
1 1
1 1
1 1
1,981
0 0
0 1,989
19 91282CDG3
575,0DO
0 0
3,234
0 0
0 0
0 578,234
0 0
0 581,468
20 025816CM9'
125,000
0 0
0 1,031
0 0
0 0
0 126,031
0 127,062
21 91282CDK4
250,000
0 0
0 1,563
0 0
0 0
0 251,563
0 0
253,126
22 24422EWA3
75,OW
0 0
0 0
0 638
0 0
0 0
0 75,638
76,276
23 87612E6M7'
110,000
0 0
0 0
0 1,073
0 0
0 0
0 111.073
112,146
24 %406RB.A4'
100,000
0 0
0 0
0 1,025
0 0
0 0
0 101,025
102,050
25 459200KM2'
135,000
1,485•
0 0
0 0
0 1,485
0 0
0 0
0 2,970
26 912828V98
650,000
7,313
0 0
0 0
0 7,313
0 0
0 0
0 14,626
27 362585AC5
12,846
33 33
33 33
33 33
33 33
33 33
33 33
396
28 433516CE4'
100,000
0 550
0 0
0 0
0 550
0 0
0 0
1,100
29 3133EP4U6
1,150,000
0 25,156
0 0
0 0
0 25,156
0 0
0 0
50,312
30 14318MADI
52,394
173
173
173
173
173
173
173
173
173
173
173
173
2,076
31 665859AW4'
90,OW
0 0
0 1,800
0 0
0 0
0 1,800
0 0
3,600
32 912828X88
510,000
0 0
0 6,056
0 0
0 0
0 6,056
0 0
12,112
33 91324PEG3'
60,000
0 0
0 1,110
0 0
0 0
0 1,110
0 0
2,220
34 254683CS2
125,000
346
3"
3"
346
346
346
346
346
3"
346
346
346
4,152
35 458140BY5'
130,000
2,438
0 0
0 0
0 2,438
0 0
0 0
0 4,876
36 9129282RO
4,300,000
48,375
0 0
0 0
0 49,375
0 0
0 0
0 96,750
37 91282CAH4
175,000
438
0 0
0 0
0 438
0 0
0 0
0 $76
38 931142EX7'
150,000
0 2,963
0 0
0 0
0 2,963
0 0
0 0
5,926
39 89236TKJ3'
1,000,000
0 22,750
0 0
0 0
0 22,750
0 0
0 0
45,500
40 91282CGHS
900,000
0 0
0 0
0 15,750
0 0
0 0
0 15,750
31,500
4191292CGPO
2,000,000
40,DOO
0 0
0 0
0 40,000
0 D
0 0
0 80,000
42 61690DRP5
244,000
0 0
0 5,747
0 0
0 0
0 5,943
0 0
11,590
43 313OAWC24
300,OD0
0 0
0 0
6,W0
0 0
0 0
0 6,OD0
0 12,0D0
44 O56121FD9
244,000
0 0
0 0
4,927
0 0
0 0
0 4,955
0 9,882
Report Date:1/31/2026
TIME Yucaipa
VALUE
INVESTMENTS
FOR INSTITUTIONAL INVESTOR USE ONLY
0 CusiP
Par Value
Febb26
Mar-26
Apr-26
may-2 6
Jun-26
lul_26
Aug-2 6
Sep-26
Oct-26
Nav-26
Dec-2 6
Jan-27
Year 1Total
45 856288BUS
244,000
0 0
0 0
5,232
0 0
0 0
0 5,260
0 10,492
46 61776NTK9
244,000
0 0
0 0
5,171
0 0
0 0
0 5,199
0 10,370
47 919853QUB
244,000
0 0
0 0
5,049
0 0
0 0
0 5,077
0 10,126
48 91232CHKO
500,000
0 0
0 0
10,000
0 0
0 0
0 10,000
0 20,0W
49 38150V4112
245,000
4,755
0 0
0 0
0 4,677
0 0
0 0
0 9,432
50 20825WEB2
249,000
867
783
867
839
867
839
867
867
839
867
839
867
10,208
51 0055948WS
245,000
4,781
0 0
0 0
0 4,677
0 0
0 0
0 9,458
52 311311A47
1,000,000
0 0
0 24,375
0 0
0 0
0 24,375
0 0
48,750
53 3130AFFXO
300,000
0 0
0 4,875
0 0
0 0
0 4,875
0 0
9,750
54 91282CXP5
2,000,000
Cl
0 46,250
0 0
0 0
0 46,250
0 0
0 92,500
55 07371BW0
244,000
0 0
0 5,626
0 0
0 0
0 5,720
0 0
11,346
56 91282CEV9
4,000,000
0 0
0 0
65,000
0 0
0 0
0 65,0D0
0 130,000
57 91282CFJ5
950,000
14,844
0 0
0 0
0 14,944
0 0
0 0
0 29,688
58 91282CGSI
1,500,000
0 0
0 0
29,063
0 0
0 0
0 29,063
0 59,126
59 76116FA83
1,000,000
0 0
0 0
0 0
0 0
0 0
0 0
0 60 76116FAC1
605,000
0 0
0 0
0 0
0 0
0 0
0 0
0 6192826CAM4'
1,000,000
0 0
10,250
0 0
0 0
a
10,250
D
D
0 20,500
62 3134HBQW4••
1,000,000
0 0
0 1,021,000
0 0
0 0
0 D
0 0
1,021,000
63 3136GAKW8'•
800,000
0 0
0 0
816,5D0
0 0
0 D
0 0
816,So0
64 24422EYFO
850,000
0 0
18,594
0 0
0 0
0 19,594
0 0
0 37,198
65 45790PDKB
249,000
772
697
772
747
772
747
772
772
747
772
747
772
9,089
TOTAL
41,475,1563
2,176,2n
1,224,112
S72,416
1,456,985
4,536,028
2,625,793
338,023
181,806
671,406
429,564
132,692
305,677
14,650,731
Callable - currenUy not likely to be called See Cash -Flows graph above "Recognizing Likelihood of Colr'for currentprojected cosh -flows' Callable - currently likely to be called
Report Date: 1/31/2026
TIT
TIME
V VALUL'
INVESTMENTS
FOR INSTITUTIONAL INVESTOR USE ONLY
Maturity Distribution
0-3mo 3.6ma 6. 12mp 1-2yr 2-3yr 3-4yr 4-Syr 5-7yr 7-10yr C-Icy, Yucaipa
Estimated Estimated
N CUSIP/Sec-10
Sec Desc 1
Wraht
Par yalw
Cmi-
Settle Dt
Mat Dt
Nwt Call Dt Ratine •
YTM ••
yTW ••
Duration
Calms
Bps to G11 Redem. Date
0 Total Llquld Balances
36.6%
23,905,949
1 31424WR20
FAMCA
3.1%
2,000,000
4,625
8/25/2025
2/21/2026
AA,
4.63 4.63
0.05 Quarterly
Bond Called 2/21/2026
2 64985TDC2
NEWYORKSTURBAN DEVCORPS
0.2%
150,000
1.310
2/29/2023
3/15/2026
NR
1.31 1.31
0.12 3/15/2026
3 91282CBT7
T
1.61A
1,015,000
0.750
2/28/2023
3/31/2026
AA+
1.07 1.07
0.16 3/32/2016
4 91282CBWO
T
0.7%
490,000
0.750
2/28/2013
4/30/2026
AA+
0.58 0.59
0.24 4/30/2026
5 04636NAA3
ASTRAZENECA FINANCE LLC NOTE
0,1%
80,000
1.200
2/28/2023
5/29/2026
4/28/2026
A.
1.17 1.17
0.32 Anytlme
5/28/2026
6 91202CCF6
T
0.5%
300,000
0.750
2/29/2023
5/31/2026
AA,
0.82 0.82
0.32 5/31/2026
7 3130010T3
FEDERAL HOME LOAN BANKSBONO
6.1%
4,000,000
4.875
5/17/2024
6/12/2026
AA+
4.76 4.76
0.36 6/1Z/2026
8 14317DAC4
CARMAK AUTO OWN TR SER 2021-3
0.0%
1,869
0.550
2/28/2023
6/15/2026
NR
0.56 0.56
0.37 6/15/2026
9 345286AC2
FORD CR AUTO OWN TR SER 2022-A
0.0%
2,655
1.290
2/28/2023
6/15/2026
NR
1.29 1.29
0.37 6/15/2026
10 91292CCIS
TREAS SER AA-202
03%
3w,000
0.875
2/28/2023
6/30/2026
AA+
3.11 3.11
0.41 6/30/2026
115446A7FC9
LOSANGELESCALIF UNISCHDI
0.2%
50,000
IA55
7/28/2023
7/1/2026
NR
1.46 1.46
0.41 7/1/2026
12 91282CHM6
TREAS SER AQ-202
2.6%
1,700,000
4.500
7/9/2024
7/15/2026
AA+
4.56 4.56
OAS
7/15/2026
13 9128282A7
T
0.3%
200,000
1.500
2/28/2023
9/15/2026
AA+
337
3.37 0.53
8/15/2026
1405602RAD3
BMW VEHICLE OWNER TRSER 2022-A
0.0%
10,030
3.210
2/28/2023
8/25/2026
NR
3.21 3.21
0.56 8/25/2026
1502665WOZ1
AMERICAN HONDA FIN CORP SER
0.2%
125,000
1.300
2/28/2023
9/9/2026
2/19/2026
A-
1.72 1.72
0.60 Anytime
9/9/202
16 362554AC1
GM FIN CONS AUTO RECSER 2021-4
0.0%
2,355
0.690
2/23/2023
9/16/2026
NR
0.69 0.68
0.62 9/16/202:
17 446977ADO
HYUNDAI AUTO REC TR SER 2022-A
0.0%
13,934
2.220
2/28/2023
10/15/2026
NR
2.22 2.22
0.70 10/15/2026
11981631AC6
WORLD OMNI AUTO REC SER 20210
0.0%
1,980
0.810
2/28/2023
10/25/2026
NR
0.81 0.81
0.70 10/15/2026
19 91282COG3
T
0.9%
575,000
1.125
2/29/2023
10/31/2026
AA+
7.43 2.43
0.73 10/31/2026
20 025816CM9
AMERICAN EXPRESS CO NOTE
0.2%
125,000
1.650
2/28/2023
11/4/2026
10/4/2026
A-
1.95 1.8E
0.75 Anytime
11/4/2026
21 91282COK4
TREAS NTS
0.4%
250,000
1.250
2/29/2023
11/W/2026
M.
1.17 1.17
0.91 11/30/2026
22 24422EWA3
JOHN DEERE CAPITAL CORPORATIO
0.1%
75,000
1.700
2/29/2023
1/11/2027
A
1.85 1.95
0.93 1/11/2027
2387612EBM7
TARGET CORP NOTE CALL
0.2%
110,000
L950
2/28/2023
1/15/2027
12/15/2026
A
1.91 1.91
0.94 Anytlme
1/15/2027
24 064D6RBA4
BANK NEW YORK MELLONCORP SER 2
0.2%
100,000
2.050
2/29/2023
1/26/2027
12/24/2026
A
2.02 2.02
DA7
Anytime
1/26/2027
2111120OKM2
INTERNATIONAL BUSINESS M
0.2%
135,000
2.200
2/28/2023
2/9/2027
1/9/2027
A-
2.53 2.53
1.DO
Anytime
2/9/2027
26 912828V98
T
1.0%
650,000
2.250
2/28/2023
2/15/2027
AA+
2.95 2.95
1.01 2/15/2027
27 362585AC5
GM FIN CONS AUT REC SER 2022-2
D.O%
12,946
3.100
2/28/2023
2/16/2027
AAA
3.11 3.11
1.01 2/16/2027
28438516CE4
HONEYWELL INTL INC NOTE CALL
D.2%
300,DD0
1.100
2/28/2023
3/1/2027
2/1/2027
A
2.33 2.33
1.07 Anytime
3/1/202
29 3133EP4U6
FFCB
1.9%
1,150,000
4.375
6/12/2025
3/8/2027
AA+
3.95 3.85
1.05 319/202;
3014319MAD1
CARMA%AUTOOWNER SER2022-3
0.1%
52,394
3.970
2/29/2023
4/15/2027
AAA
3.97 3.57
1,17
4/15/2027
7 Report Date: 1/31/2026
- TIME
VALUE
INVESTMENTS
Yucaipa
31665859AW4
NORTHERNTRCORP NOTE
0.1%
90,OD0
Portfolio
4.000
2/2812023
5/10/2027,
4/10/2027
A
3.75 3.74
1,22
Anytime
5/10/2027
32 912828X88
TREAS SER C-2027
0.8%
510,000
2.375
2/28/2023
5/15/2027
AA +
3.46 3.46
1.25 5/15/2027
33 91324PEG3
UNITEDHEALTH GROUP INC NOTE
0.1%
60,000
3.700
2/28/2023
5/15/2027
4/15/2027
A
3.56 3.56
1.24 Anytime
5/11/101;
34 254693C52
DISCOVER CARD ERE NTSER 2022-2
0.2%
125,000
3.320
2/28/2023
5/27/2027
NR
3.32 3.32
1.25 5/17/202
35 459140BY5
INTEL CORP NOTE CALL
0.2%
130,000
3.750
2/29/2023
8/5/2D27
7/5/2027
BBB
3.72 3.72
1.43 Anytime
8/5/2027
36 9129282RO
T
6.6%
4,3DO,000
2.250
7/9/2024
8/15/2027
AA.
4.41 4.41
1.48 9/15/2027
37 91282CAH4
TREAS SER P-2027
0.3%
175,000
0,500
2/28/2023
9/31/2027
AA+
3.93 3.93
1.54 9/31/2027
39931142EX7
WALMART INC NOTE CALL
0.2%
150,000
3.950
2/28/2023
9/9/2027
8/9/2027
AA
3.91 3.91
1.52 Anytime
9/9/2027
39 89236TKJ3
TOYOTA MTR CR CORP MTN CALL M
1.5%
1,000,000
4,550
7/29/2D25
9/20/2027
2/I8/2D26
A.
4.D6
2.73 1.54
Anytime
5/20/2027
4D 91282CGHB
TREAS SER U-2028
1.4%
900,000
3,500
1/19/2024
2/31/2028
AA,
4.04 4.04
1.91 1/31/2028
41 91292CGPO
T
3.2%
2,WD,000
4.W0
1/30/2024
2/29/2028
AA+
4.14 4.14
1.95 2/29/202
W 42 6169RP5
MORGAN STANLEY BK N A CD
0.4%
244,000
4.750
5/30/2024
5/30/2029
NR
4.75 4.75
2.18 5/301202:
433130AWC24
FEDERAL HOME LOAN BANKS
0.5%
300,000
4.000
2/13/2024
6/9/2028
AA+
4.18 4.18
2.22 6/9/2028
4405612LF09
BMW OR NORTH AMER SALT LAKE
0.4%
244,0004.050
6/13/2025
6/13/2028
NR
4.05 4.05
213
6/13/2028
45856288BUB
STATE BK INDIA NEW YORK NY CO
0.4%
244,000
4.3W
6/16/2025
6/16/202B
NR
4.30 4.30
2.23 6/16/2028
46 61776NTK9
MORGAN STANLEY PRIVATE BX
0.4%
244,000
4.250
6/18/2025
6/20/2028
NR
4.25 4.25
2.24 6/20/2028
47 919853QUS
VALLEY NATL BK PASSAIC N
0.4%
244,000
4.150
6/17/2025
6/20/2028
NR
4.15 4.15
2.24 61201202:
4891212CHK0
TREAS SER AA-202
0.9%
SW,OW
4.000
3/13/2024
6/30/2029
AA.
4A7
4.17 2.28
6/W/202
4938150V4152
GOLDMAN SACHS BK USACD
0.4%
245,000
3.850
8/5/2025
8/7/2028
NR
3.85 3.95
2.33 8/7/2028
50 20825WEB2
CONNEXUS CREDIT UNION WAUSAU
0.4%
249,000
4.100
8/6/2025
0/7/2028
INK
4.10 4,10
2.36 8/7/2028
51 W5554BW5
ADAMS CMNTY BK ADAMSMASS CD
0.4%
245,000
3.850
8/8/2025
8/e/2028
NR
3.85 3.95
2.34 8/8/2028
52 3113EPA47
FFCB
1.5%
1,OWW ,O
4.875
6/12/2025
11/1/2028
AA+
3.89 3.88
2.54 11/1/2028
533130AFFXO
FEDERAL HOME LOAN BANK 4973
0.5%
300,000
3.250
2/13/2024
11/16/2028
AA.
4.08 4.08
2.63 11/16/202B
54 91282CKP5
TREAS SER Y-2029
3.1%
2,OOO,O00
4.625
5/15/2025
4/30/2029
AA,
3.98 3,98
2.97 4/30/2029
5507371BW0
MONET BK PLANO TEX CD
0.4%
244,OW
4.650
6/5/2024
5/30/2029
NR
4.65 4.65
3.05 5/30/2029
56 912B2CEV9
TREAS SER M-2029
6.1%
4,000,000
3.250
10/25/2024
6/30/2029
AA+
3.98 3.98
3.19 6/30/2029
57 91292CFJ5
TREAS SER P-2029
1.5%
950,000
3.125
11/21/2024
8/31/2029
AA+
4.23 4.23
3.31 0/31/2029
5891232CGBI
TREAS SER T-2029
2.3%
1,SW,OW
3.875
2/5/2025
12/31/2029
AA+
4.30 4.30
3.59 12/31/2029
59 76116FAB3
RFC5P
1.5%
1,O00,O00
0.000
5/15/2025
1/15/2030
AA+
4.25 4.25
3.88 1/15/2030
60 76116FAC1
RFC5P
0.9%
605,DW
0A00
7/29/2025
4/15/2030
AA+
4.10 4.10
4.13 4/15/2030
6192826CAM4
VISAING NOTE CALL
1.5%
1,OW,o00
2.050
4/30/2025
4/15/2030
1/15/2030
AA-
4.12 4.12
3.99 Anytime
4/15/2030
62 3134HBQW4
FHLMC
1.5%
1,O00,O00
4.200
5/15/2025
5/20/2030
5/20/2026
AA+
4.30 4.30
0.30 Annually 12
5/20/2026
63 3136GAKW8
FEDERAL NATL MTG ASSN NOTE
1.2%
800,000
4.125
7/29/2025
7/29/2030
7/29/2026
AA+
4.21 4.21
0.49 Quarterly 5
7/29/2026
64 24422EYFO
JOHN DEERE CAPITAL CORPORATION
1.3%
850,OW
4.375
11/7/2025
10/15/2030
NR
4.08 4.08
4.17 10/15/2030
6545700PDKB
INSTITUTION FOR SVGS IN NEWBUR
0.4%
249,000
3.650
10/28/2025
10/28/2030
NR
3.65 3.65
4.33 10/28/2030
TOTAL and AVERAGES
100.0%
65,381,012
2.09 V.
1.37 V.
3.95 3.92
IAA
•Semi -Annual
Interest payment
•- Yields calculated
using cost price,
at settlement date
•..
Ratings Shown Are: Lowest
Rating In 5&P format,
NR AGY=Non-Rated U.S. Government
Agency
Report Date: 1/31/2026