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Home My WebLink About5.2 City Treasurer's Informational Report of Investments for the Quarter Ending December 31, 2023r DUBLIN CALIFORNIA STAFF REPORT CITY COUNCIL DATE: February 20, 2024 TO: Honorable Mayor and City Councilmembers FROM: Linda Smith, City Manager Agenda Item 5.2 SU B.ECT : City Treasurer's Informational Report of Investments for the Quarter Ending December 31, 2023 Prepared by: Chris Rhoades, Financial Analyst EXECUTIVE SUMMARY: The City Council will receive an informational report of the City's investments through the quarter ending December 31, 2023, including a monthly transaction ledger. The City's investment portfolio for this period totaled $426,449,339 (market value) with an average market yield of 4.71%. As required by the Policy, the City Treasurer (Finance Director) affirms that the City is able to meet its expenditure requirements for the next six months. STAFF RECOMMENDATION: Receive the report. FINANCIAL IMPACT: There is no financial impact resulting from this report. Investments are made in accordance with the City Investment Policy and State Law. Interest earned is apportioned between funds (i.e., General Fund, Gas Tax Fund, etc.) based upon their proportionate share of the total cash balance. Based on the financial needs of the City including the timing of revenues and expenditures, the quarterly cash balance can vary from quarter to quarter. DESCRIPTION: The total investment portfolio (market value) consists of $290,000,185 managed by Chandler Asset Management (Chandler), and $136,449,154 invested by the City in local government pools, the Local Agency Investment Fund (LAIF) and the California Asset Management Program (CAMP). The average market yields of the Chandler portfolio and the local pools were 4.46% and 5.24% respectively. The total investment portfolio balance fluctuates throughout the year due to normal cash flow Page 1 of 4 1 needs and includes both discretionary and restricted funds. Economic Update Highlights The following are some highlights from the Economic Update included in the Investment Report prepared by Chandler (Attachment 1). Recent economic data has shown above -trend growth fueled by a rise in consumer spending and a healthy US job market. Inflationary trends are subsiding, but core levels remain above the Fed's target. Given the cumulative effects of restrictive monetary policy and tighter financial conditions, Chandler believes the economy will gradually soften and the Fed will loosen monetary policy in 2024. City of Dublin Portfolio The City's aggregate portfolio has maintained a healthy balance of investment types with minimal change from the prior quarter as shown below in Chart 1, except for CAMP due to additional funds deposited with the receipt of property taxes. Chart 1: Investments by Type December 31, 2023 and September 30, 2023 December 31, 2023 US Treasury 26.1% Supranational 5.5% Money Market Fund 0.3% Local Gov Investment Pool 25.7% ABS 6.1% LAIF 6.3% Agency 10.7% CMO 2.0% Corporate 17.2% US Treasury 26.4% Supranational 6.0% Money Market Fund 0.2% Local Gov Investment Pool 21.2% September 30, 2023 LAIF 6.8% ABS 7.3% Agency CMO 1.9% Corporate 18.2% The market value of the City's portfolio increased by $36.3 million from the September 30, 2023 quarter. The quarterly change is the result of normal fluctuations in the timing of incoming revenue, predominantly the receipt of property tax revenue, the City's largest revenue source. Property Tax payments are received in the December and June quarters each fiscal year and are typically deposited into the City's local government pools as these funds are then utilized over the following months. The City also incurred expenditures on multiple capital projects, as well as payments to Alameda County for Police and Fire Services, during the reporting period. The City's portfolio increased by $67.6 million from the same quarter the prior year, due to the timing of Page 2 of 4 2 revenues and expenditures for some of the City's larger scale capital projects (see Table 1 below). Overall market yield -to -maturity decreased to 4.71% from the previous quarter, (shown in Table 2) due to the factors discussed in the Economic Update Highlights. For detailed monthly transactions, see Attachment 2. Holdings Managed by City LAIF CAMP SUBTOTAL' Accrued Interest Managed by Chandler ABS Agency CMO Money Market Supranational Corporate US Treasury SUBTOTAL Accrued Interest TOTAL PORTFOLIO Table 1: Portfolio Values and Yield to Maturity December 31, 2022 Market Value September 30, 2023 Market Value Decemb4r 31, 2023 Par Value Book Value Market Value %of %of Total Subtotal Portfolio Book Market Yield Yield 25,730,693 26,297,090 26,534,226 56,195,257 82,616,317 109,660,424 81,925,950 I 108,913,407 I 136,194,650 169,795 222,462 82,095,744 109,135,869 31,285,896 58,714,486 3,843,615 4,923,898 16,569,068 65,378,464 89,783,810 275,481,435 1,232,872 276,714,308 358,810,052 28,613,814 46,770,742 7,428,709 859,487 23,103,092 70,490,952 102,206,540 279,473,336 1,524,241 280,997,577 390,133,446 26,012,972 46,800,000 8,893,638 1,159,231 24,525,000 75,055,000 113,500,000 295,945,841 26,534,226 109,660,424 136,194,650 26,010,722 46,924,578 8,832,414 1,159,231 24,166,111 74,666,608 113,048,802 294,808,466 26,534,226 19.5% 109,660,424 80.5% 136,194,650 I 100.00% 254,504 136,449,154 25,798,334 45,535,489 8,685,518 1,159,231 23,370,361 72,851,163 110,817,325 288,217,421 1,782,764 290,000,185 432,140,491 431,003,117 Change from Prior Year Change from Prior Quarter 426,449,339 67,639,287 36,315,893 6.1% 25.4% 3152% 9.0% 6.0% 15.8% 10.8% 3.0% 2.1% 0.4% 0.3% 8.1% 5.7% 25.3% 17.4% 38.4% 26.3% 100.00% 68A8% 3.95% 5.56% 525% 3.35% 2.12% 3.34% 4.98% 2.16% 3.00% 3.07% 2.87% 3.95% 5.56% 5.24%I 5.22% 4.56% 4.60% 4.98% 4.24% 4.78% 4.06% 4A6% 100.00% Table 2: Quarterly Holdings (Market Value) by Type, and YTM, 5 Quarters Holdings (Market Value) LAIF/CAMP ABS Agency CMO Commercial Paper Money Market Supranational Corporate US Treasury Accrued Interest TOTAL YIELD TO MATURITY 12/31/22 81,925,950 31,285,896 58,714,486 3,843,615 4,982,197 4,923,898 16,569,068 65, 378,464 89,783,810 1,402,667 358,810,052 4.39% 3/31/23 6/30/23 9/30/23 106,543,157 120,768,108 108,913,407 30,171,153 28,186,820 28,613,814 60,517,635 53,795,750 46,770,742 3,874,342 6,570,900 7,428,709 760,481 2,641,554 859,487 16,860,396 16,711,738 23,103,092 71,092,672 71,551,741 70,490,952 96, 639, 811 99, 278,149 102, 206, 540 1,577,520 1,604,620 1,746,703 388,037,166 401,109,378 390,133,446I 4.39% 4.92% 5.19% 4.71% 12/31/23 136,194,650 25,798,334 45,535,489 8,685,518 1,159,231 23,370,361 72,851,163 110,817,325 2,037,268 426,449,339 I 4.71% Page 3 of 4 3 Funds Managed by the City The City participates in two local agency investment pools managed by government finance professionals and treasurers: the Local Agency Investment Fund (LAIF) and the California Asset Management Program (CAMP). The following table shows the market yield in the local pools over the last eight quarters. Table 3: Quarterly Portfolio Yields, Recent 8 Quarters Market Yield LAIF CAMP Chandler 3/31/22 0.42% 0.07% 2.38% 6/30/22 0.94% 1.40% 3.20% 9/30/22 1.60% 2.61% 4.47% 12/31/22 2.23% 4.50% 4.57% 3/31/23 2.88% 4.92% 4.37% 6/30/23 3.26% 5.20% 4.98% 9/30/23 3.61% 5.52% 5.24% 12/31/23 3.95% 5.56% 4.46% STRATEGIC PLAN INITIATIVE: None. NOTICING REQUIREMENTS/PUBLIC OUTREACH: The City Council Agenda was posted. ATTACHMENTS: 1) City of Dublin Investment Report for Period Ending December 31, 2023 2) Transaction Ledger - October through December 2023 Page 4 of 4 4 Attachment I IINVESTMENT REPORT City of Dublin Period Ending December 31, 2023 CA%CHANDLER ASSET MANAGEMENT CHANDLER ASSET MANAGEMENT, INC. 1800.317.4747 I www.chandlerasset.com �i • Table of Contents SECTION 1 Economic Update SECTION 2 Account Profile SECTION 3 Consolidated Information SECTION 4 Portfolio Holdings SECTION 5 Transactions As of December 31, 2023 1 CM 6 Section 1 I Economic Update Economic Update • Recent economic data has shown above trend growth fueled by a rise in consumer spending and a continuing healthy US job market. Inflationary trends are subsiding, but core levels remain above the Fed's target. Given the cumulative effects of restrictive monetary policy and tighter financial conditions, we believe the economy will gradually soften and the Fed will loosen monetary policy in 2024. • As expected at the December meeting, the Federal Open Market Committee voted unanimously to leave the Federal Funds rate unchanged at a target range of 5.25 - 5.50%. Fed Chair Powell signaled that the federal funds rate is likely at or near its peak. The new Summary of Economic Projections reflected Core PCE inflation reaching the target 2% level in 2026 without a significant increase in unemployment. We believe the FOMC will loosen monetary policy in mid-2024 as inflation and economic growth continue to moderate. • US Treasury rates fell steeply across the yield curve in December on decelerating inflation readings and a more dovish Federal Reserve outlook. The 2-year Treasury yield declined 43 basis points to 4.25%, the 5-year Treasury yield dropped 42 basis points to 3.85%, and the 10. year Treasury yield decreased 45 basis points to 3.88%. The inversion between the 2-year Treasury yield and 10-year Treasury yield widened to -37 basis points at December month -end versus -35 basis points at November month -end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was -55 basis points. The inversion between 3-month and 10-year Treasuries widened to - 146 basis points in December from -107 basis points in November. Interest rates peaked in 2023 followed by the Fed's dovish pivot late in the year, resulting in a decline in yields across the curve and signaling less restrictive monetary policy in 2024. The shape of the yield curve indicates that the probability of recession persists. 3 8 IEmployment 0 0 0 1,000 800 600 tn c 3 400 0 1— c 200 ai 110 sc 0 u o -200 -400 / Nonfarm Payroll (000's) i AAPA1 Non -farm Payroll (000's) 3-month average (000's) 'Icy -I9 'I9 c)0 s\-)0 c31 ?1 ✓4� poc ✓() OPc 25.0% 20.0% e 15.0% v cc 10.0% 5.0% 0.0% Unemployment Rate Underemployment Rate (U6) Unemployment Rate (U3) 1c. 1,9 'I9 �0 �0 �-I �.I �� , �0) Source: US Department of Labor Source: US Department of Labor The U.S. economy added 216,000 jobs in December, exceeding consensus expectations of 175,000, and the last two months were revised down by 71,000 jobs. Leading sectors included government, leisure, hospitality, and healthcare. The trajectory of job creation is gradually moderating, with the three-month moving average payrolls at 165,000 and the six-month moving average at 193,000. The unemployment rate remained unchanged at 3.7%, and the labor participation rate decreased to 62.5% from 62.8%, falling well below the pre -pandemic level of 63.3%. The U-6 underemployment rate, which includes those who are marginally attached to the labor force and employed part time for economic reasons rose to 7.1% from 7.0% last month. Average hourly earnings rose 4.1% year -over -year in December, increasing from a 4.0% gain last month. Employment remains strong by historical standards, but data are trending toward a less robust labor market outlook. YOY (%) Change Inflation 10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Consumer Price Index (CPI) CPI YOY % Change Core CPI YOY % Change 4/0`1� �d`19 Nok �d`�O Kok 21c).k Source: US Department of Labor +o� mod` 4/°1, _1 [Z.,�) 410 YOY (%) Change 10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Personal Consumption Expenditures (PCE) PCE Price Deflator YOY % Change PCE Core Deflator YOY % Change Fed Target 4/0 41 titeti21 ti'4L'iti Ld`o`a`oGd`o�k0Ldyo` Q z9 19 �O �4 -1 �,I �.>' �a' Source: US Department of Commerce The Consumer Price Index (CPI) increased 0.1% month -over -month and 3.1% year -over -year in November, edging down from 3.2% year - over -year in October. The Core CPI, which excludes volatile food and energy components, was up 0.3% month -over -month and 4.0% year - over -year, unchanged from October as expected. Shelter was the largest contributor to November's Core CPI monthly advance, accounting for 70% of the increase. The Personal Consumption Expenditures (PCE) Index eased more than expected in November, as headline inflation fell 0.1% month -over -month and rose 2.6% year -over -year, down from a 2.9% increase in October. Core PCE, the Federal Reserve's preferred inflation gauge, increased 0.1% month -over -month and decelerated to 3.2% year -over -year in November from a 3.4% year -over -year increase in October. The trend is moderating, but inflation remains above the Fed's 2% target. Federal Reserve 10,000,000 9,000,000 8,000,000 7,000,000 0 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 Federal Reserve Balance Sheet Assets • Recession r 0 0 0 0P 0P 0 0 0 0 0 0 c0 c0 c0 c0 c1 c1 c1 c1 c1 c. c� .3' S 0 9 1 a' S 9 l ,)' Source: Federal Reserve Effective Federal Funds Rate 6.00% 5.00% 4.00% ma) 3.00% 2.00% 1.00% 0.00% 0, Oc OP OP OP Oc Oc Oc Oc Oc 0, c0 c0 c0 c0 c1 c1 c1 c1 1 � .�' S � 9 .j .�' S � 9 .l • Recession Source: Bloomberg As expected at the December meeting, the Federal Open Market Committee voted unanimously to leave the federal funds rate unchanged at a target range of 5.25-5.50%. The Fed acknowledged inflation eased over the past year while remaining elevated. Fed Chair Powell signaled that the federal funds rate is likely at or near its peak. The Summary of Economic Projections reflected Core PCE inflation reaching the target 2% level in 2026 without a significant increase in unemployment. The median forecast for the federal funds rate declined to 4.6%, implying three quarter -point cuts next year, four in 2025 and three in 2026, placing the federal funds target rate around 2.9% at the end of the forecast horizon. The market interpreted the statement as dovish, with futures contracts pricing in rate cuts sooner and more aggressively than the Fed's forecasts next year. We believe the FOMC will loosen monetary policy in mid-2024 as inflation and economic growth continue to moderate. Since the Fed began its Quantitative Tightening campaign in June 2022, securities holdings have declined by over $1.2T to approximately $7.8T. IConsumer YOY (%) Change 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% -10.0% -20.0% -30.0% Retail Sales YOY % Change 1_._■■.■■■■■■111 .■■II■��1 III I ��I111._._■.■.■ 11 +0 41 +°� mod` +do 41 AI 41 4/o mod +°k 16) 9 19 \-)O -)O 1 )1 � ‘-)) S -)S 100 • 80 x -00 60 c 40 20 0 Consumer Confidence OP O6, OP O6, OP OP OP O6) O6, O�cccccccccc,c �0) 0 O9 1110) 1 19�,l ,, 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) Retail Sales rose 0.3% in November after a downwards revision to -0.2% in October, exceeding the -0.1% consensus forecast. On a year - over -year basis, Retail Sales growth accelerated to 4.1% in November from 2.2% in October buoyed by non -store retailers up 10.6%, as well as food services and drinking places up 11.3%. The Conference Board's Consumer Confidence Index surged to 110.7 in December from 101.0 in November, far surpassing consensus expectations. Positive ratings of job availability and increased confidence in personal income prospects contributed to the substantial increase. While the consumer has been resilient, dwindling excess savings, rising credit card balances, and the resumption of student loan payments pose potential headwinds to future economic growth. 7 C 12 ILeading Indicators of Economic Activity 20.0% 15.0% 10.0% wb'o 5.0% u 0.0% 7 -5.0% >- o -10.0% - 15.0% - 20.0% - 25.0% Leading Economic Indicators (LEI) Recession M +o +o do +o 46 +o +o do +o +o +o GcQ ' O. 9 G 9 GO GO `1 G1 O. ' � .l S 9 .�' � .l S 9 a' Source: The Conference Board 3 Month Average 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 vfm d cS5 91 9S 99 O3, O) It 1S .Z s‘-)S Source: Federal Reserve Bank of Chicago The Conference Board's Leading Economic Index (LEI) fell 0.5% in November, marking the twentieth consecutive month -over -month decline. The index dropped 7.6% year -over -year. The Conference Board expects the consistent decline month -over -month to result in a slowdown in economic activity. The Chicago Fed National Activity Index (CFNAI) improved in November to 0.03 from a downwardly revised -0.66 in October. On a 3-month moving average basis, the CFNAI rose slightly to -0.20 in November from -0.26 in October, indicating a rate of growth below the historical average trend. IHousing In Thousands of Units 2,400 2,200 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 Annualized Housing Starts • Multi Family Housing Starts ■ Single Family Housing Starts +0, +O, +O, +O, +O, +O� +O� +O +0 +O . 4/Ok OJ, Os. O) 09 1,1 1.s' 1 1> 1 c.)1 c)o) Source: US Department of Commerce 24.0% 20.0% 16.0% 12.0% 0 8.0% 2 4.0% • 0.0% o -4.0% r -8.0% - 12.0% - 16.0% - 20.0% S&P/Case-Shiller 20 City Composite Home Price Index Recession o oC?t 00 00t 00 00 00 00t 00 00t 00 O� 0 O) 00 .71 10) 1S 1> 19 �1 s.�' Source: S&P Housing Starts increased sharply month -over -month in November by 14.8% to an annual rate of 1.560 million units. Starts were up 18% for single-family units and up 6.9% for multi -family. Total starts of new homes are up 9.3% year -over -year. The pick-up in growth can be partially attributed to lower costs of construction materials and homebuilders adjusting projects to accommodate the higher interest rate environment. According to Freddie Mac, average 30-year fixed rate mortgage rates declined to 6.49% as of December 21st, paralleling the drop in the 10-year US Treasury yield. According to the Case-Shiller 20-City Home Price Index, housing prices rose 4.9% year -over -year in October, accelerating from a 3.9% year -over -year gain in September. Tight inventories and higher mortgage rates continue to impact affordability. 14 ISurvey Based Measures 70 65 60 55 50 45 40 • Institute of Supply Management (ISM) Surveys ISM Manufacturing ISM Services je/ cZ� drZ9 j9 p'19 c19 d��O 7`DO 'DO c,O dr�z ��1 p�1 c�Z d�2� 7�� 6�2 c,�� dr . ��` p�� c�03 Source: Institute for Supply Management The Institute for Supply Management (ISM) Manufacturing index moved higher to 47.4 in December from 46.7 in November due to improved performance as suppliers are better able to meet lower demand levels. However, this marks the 14th consecutive month of contraction in factory activity below a reading of 50. The ISM Services Index unexpectedly declined to 50.6 in December from 52.7 in November, narrowly remaining in the expansion zone above 50. Notably, the employment component of the index plummeted by 7.4 points to 43.3, entering contractionary territory. This decline was primarily driven by increased layoffs and a softening in consumer demand. 10 CA 15 IGross Domestic Product (GDP) Components of GDP 12/22 3/23 6/23 9/23 Personal Consumption Expenditures 0.8% 2.5% 0.6% 2.1% Gross Private Domestic Investment 0.6% -1.7% 0.9% 1.7% Net Exports and Imports 0.3% 0.6% 0.0% 0.0% Federal Government Expenditures 0.6% 0.3% 0.1% 0.5% State and Local (Consumption and Gross Investment) 0.3% 0.5% 0.5% 0.5% Total 2.6% 2.3% 2.1% 4.9% Source: US Department of Commerce 40.0% 30.0% 20.0% 10.0% 0.0% - 10.0% - 20.0% -30.0% - 40.0% - Gross Domestic Product (GDP) GDP QOQ % Change GDP YOY % Change SoA �SPA dr0,^ 6)A /110 SPp` lk? �a` dr, SPA` 9 , .79 l9 �0 �0 �1 1 �� c �S c)S Source: US Department of Commerce According to the third estimate, third quarter GDP grew at an annualized rate of 4.9%, revised down from the second estimate of 5.2%, with the downward revisions driven primarily by personal consumption expenditures. The consensus estimate calls for a marked slowing to 1.2% in the fourth quarter and 2.4% for full year 2023. 11 CM 16 Bond Yields 6.0% 5.0 4.0% 3.0% 2.0% 1.0% US Treasury Note Yields • 2-Year 5-Year 10-Year 0.0% 1d' l9 19 �O �O �1 c1 c� �� C� C.s' Source: Bloomberg 6.0% 5.0% 4.0% 0 -a 3.0% } 2.0% 1.0 0.0% US Treasury Yield Curve Dec-23 Sep-23 Dec-22 o'o �o Syr Syr Syr Oyr Oyr Source: Bloomberg At the end of December, the 2-year Treasury yield was 18 basis points lower, and the 10-Year Treasury yield was flat, year -over -year. The inversion between the 2-year Treasury yield and 10-year Treasury yield widened to -37 basis points at December month -end versus -35 basis points at November month -end. The average historical spread (since 2003) is about +130 basis points. The inversion between 3- month and 10-year Treasuries widened to -146 basis points in December from -107 basis points in November. The shape of the yield curve indicates that the probability of recession persists. 12 CA 17 Section 2 I Account Profile Objectives As of December 31, 2023 Investment Objectives The investment objectives of the City of Dublin are first, to provide safety of principal; second, to provide adequate liquidity to meet all requirements which might be reasonably anticipated; third, to attain a market average rate of return on its investments throughout economic cycles; and fourth, to be diversified to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions. Chandler Asset Management Performance Objective The performance objective of the City of Dublin is to earn a return that equals or exceeds the return on of the ICE BofA 1-5 Year Treasury and Agency Index. Strategy In order to achieve this objective, the portfolio invests in high quality fixed income instruments consistent with the City's investment policy and California Government Code. ICompliance City of Dublin Assets managed by Chandler Asset Management are in full compliance with state law and with the City's investment policy. As of December 31, 2023 Category Standard Comment U.S. Treasury Issues Federal Agencies Municipal Securities Supranational Securities Asset -Backed Securities/Mortgage- Backed Securities/ Collateralized Mortgage Obligations Corporate Medium Term Notes Negotiable Certificates of Deposit Time Deposits/ Certificates of Deposit Commercial Paper Banker's Acceptances Money Market Mutual Funds and Mutual Funds Local Agency Investment Fund (LAIF) California Asset Management Program (CAMP) Prohibited Securities Max Per Issuer Maximum Maturity No limitations; Full faith and credit of the U.S. are pledged for payment of principal and interest. Complies 35% max per agency issuer; 25% max callables for agency securities; Federal Agencies or U.S. Government Sponsored Enterprises (GSE), participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal Complies agencies or U.S. GSEs. "A" rated or higher by a NRSRO; 5% max per issuer; Obligations of the State of California, any of the other 49 states, or any local agency within the state of California; "AA" rating category or better by a Nationally Recognized Statistical Rating Organization ("NRSRO"); 30% maximum; 10% max per issuer; U.S. dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by the International Bank for Reconstruction and Development ("IBRD"), the International Finance Corporation ("IFC") or the Inter - American Development Bank ("IADB") "AA" rated or higher by a NRSRO; 20% maximum (combined); 5% max per issuer "A" rated or higher by a NRSRO; 30% maximum; 5% max per issuer; Issued by corporations organized and operating within the U.S. or by depository institutions licensed by the U.S. or any state and operating within the U.S. "A" long-term debt rated and/or "A-1" short-term rated or higher by a NRSRO; 30% maximum; 5% max per issuer; 20% max amount invested in NCDs with any one financial institution in combination with any other debt from that financial institution; Issued by a nationally or state -chartered bank, a savings association or a federal association, a state or federal credit union, or by a state -licensed branch of a foreign bank. 10% maximum; Collateralized/FDIC Insured; 1 year max maturity Complies "A-1" rated or higher by a NRSRO; 25% maximum; 5% max per issuer; 10% max of the outstanding commercial paper of an issuing corporation; 20% max amount invested in CP of any one issuer in combination with any other debt from that issuer; 270 days max maturity; Issuer of the commercial paper shall meet all conditions in either A) (1) Organized and operating in the U.S. as a general corp, (2) Has AUM > $500 million, (3) "A" rated issuer debt (if any) or higher by a NRSRO; or B) (1) Organized in the U.S. as a special purpose corp, trust, LLC, (2) Has program wide credit enhancements including, but not limited to, over collateralization, LOC, or surety bond, (3) "A-1" rated or higher by a NRSRO "A-1" short-term rated or higher by a NRSRO; 40% maximum; 5% max per issuer; 20% max amount invested in BA with any one financial institution in combination with any other debt from that financial institution; 180 days max maturity Highest rating or "AAA" rated by two NRSROs; SEC registered adviser with AUM >$500 million and experience > 5 years; 20% maximum in Mutual Funds and Money Market Mutual Funds; 20% max in Money Market Mutual Fund; 10% max per one Mutual Complies Fund Maximum permitted by LAIF; Not used by investment adviser Complies Complies Complies Complies Issued by joint powers authority organized pursuant to California Government Code; Not used by investment adviser Inverse floaters; Ranges notes, Mortgage -derived, Interest -only strips; Any investment in a security not specifically listed as an Authorized and Suitable Investment in the policy. 5% max per issuer, except US Government, its Agencies and instrumentalities (including agency backed -mortgage pools), Supranational securities, or Money Market Mutual Funds 5 years, unless otherwise stated in the policy Complies Complies Complies Complies Complies Complies Complies Complies 15 CA 20 Portfolio Characteristics City of Dublin As of December 31, 2023 12/31/23 09/30/23 Benchmark* Portfolio Portfolio Average Maturity (yrs) Average Modified Duration Average Purchase Yield Average Market Yield Average Quality** Total Market Value *ICE BofA 1-5 Yr US Treasury & Agency Index **Benchmark is a blended rating of S&P, Moody's, and Fitch. Portfolio is S&P and Moody's respectively. 2.68 2.52 n/a 4.20% AA+ 2.87 2.45 2.87% 4.46% AA/Aa 1 290,000,185 2.89 2.46 2.66% 5.24% AA/Aa 1 280,997,577 16 CM 21 Sector Distribution US Treasury 38.4% Supranational 8.1% December 31, 2023 Money Market Fund 0.4 % ABS 8.9% Corporate 25.4% Agency 15.8% CMO 3.0% City of Dublin US Treasury 36.6% Supranational 8.3% September 30, 2023 Money Market Fund 0.3% As of December 31, 2023 ABS 10.2 % Corporate 25.3% Agency 16.7% CMO 2.7% 17 CM 22 IIssuers City of Dublin - Account #10198 As of December 31, 2023 Issue Name Investment Type % Portfolio Government of United States Federal National Mortgage Association Intl Bank Recon and Development Federal Home Loan Bank Inter -American Dev Bank Federal Home Loan Mortgage Corp Federal Home Loan Mortgage Corp Federal Farm Credit Bank Bank of Montreal Chicago Bank of America Corp Toronto Dominion Holdings Deere & Company John Deere ABS Toyota Motor Corp Amazon.com Inc Royal Bank of Canada Merck & Company United Health Group Inc JP Morgan Chase & Co JP Morgan ABS Morgan Stanley Qualcomm Inc Metlife Inc Mercedes-Benz Tennessee Valley Authority US Bancorp Hyundai Auto Receivables Northwestern Mutual Glbl Caterpillar Inc Chubb Corporation Honda Motor Corporation Honeywell Corp GM Financial Securitized Term Auto Trust Berkshire Hathaway American Express ABS Wal-Mart Stores Charles Schwab Corp/The Honda ABS US Treasury Agency Supranational Agency Supranational CMO Agency Agency Corporate Corporate Corporate Corporate ABS Corporate Corporate Corporate Corporate Corporate Corporate ABS Corporate Corporate Corporate ABS Agency Corporate ABS Corporate Corporate Corporate Corporate Corporate ABS Corporate ABS Corporate Corporate ABS 38.44% 5.62% 4.39% 3.67% 3.15% 3.00% 2.83% 2.75% 1.51% 1.43% 1.40% 1.40% 1.38% 1.32% 1.28% 1.23% 1.21% 1.18% 1.16% 1.08% 1.03% 1.02% 1.00% 0.97% 0.92% 0.88% 0.87% 0.87% 0.87% 0.85% 0.83% 0.82% 0.76% 0.75% 0.75% 0.71% 0.62% 0.62% 18 CM 23 IIssuers City of Dublin — Account #10198 As of December 31, 2023 Issue Name Investment Type % Portfolio GM Financial Automobile Leasing Trust International Finance Corp Bank of New York BMW ABS Target Corp Toyota Lease Owner Trust First American Govt Oblig Fund Toyota ABS Dominion Resources Inc Realty Income Corp Verizon Master Trust Guardian Life Global Funding BMW Vehicle Lease Trust Salesforce.com Inc Hyundai Auto Lease Securitization Mercedes-Benz Auto Lease Trust TOTAL ABS Supranational Corporate ABS Corporate ABS Money Market Fund ABS Corporate Corporate ABS Corporate ABS Corporate ABS ABS 0.59% 0.58% 0.51% 0.47% 0.44% 0.42% 0.40% 0.35% 0.34% 0.32% 0.32% 0.25% 0.17% 0.16% 0.13% 0.04% 100.00% 19 CM 24 I Quality Distribution 70.0% 60.0% 50.0% 40.0 % 30.0% 20.0% 10.0 % 0.0% 1 AAA City of Dublin December 31, 2023 vs. September 30, 2023 AA ■ 12/31/23 1 A <A 09/30/23 NR As of December 31, 2023 AAA AA A <A NR 12/31/23 09/30/23 Source: S&P Ratings 16.9% 17.7% 59.1% 58.2% 20.2% 20.1% 0.3% 3.5% 0.3% 3.7% 20 CM 25 I Duration Distribution 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 0 - 0.25 City of Dublin Portfolio Compared to the Benchmark 0.25-0.50 0.50-1 ■ City of Dublin 1-2 2-3 3-4 As of December 31, 2023 4-5 5+ ICE BofA 1-5 Yr US Treasury & Agency Index 0-0.25 0.25-0.50 0.50-1 1-2 2-3 3-4 4-5 5+ Portfolio Benchmark* 1.4% 0.1% *ICE BofA 1-5 Yr US Treasury & Agency Index 1.8% 0.0% 9.2% 1.6% 29.5% 35.4% 16.9% 26.6% 30.1% 21.4% 11.2% 15.0% 0.0% 0.0% 21 c 26 IInvestment Performance 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% - 1.00% - 2.00% City of Dublin Total Rate of Return Annualized Since Inception October 31, 2013 12 months 2 years 3 years 5 years As of December 31, 2023 10 years Since Inception • City of Dublin ICE BofA 1-5 Yr US Treasury & Agency Index* Annualized TOTAL RATE OF RETURN 3 months 12 months 2 years 3 years 5 years 10 years Since Inception City of Dublin 3.20% 4.80% -0.08% -0.37% 1.54% 1.33% 1.30% ICE BofA 1-5 Yr US Treasury & Agency Index* 3.10% 4.33% -0.58% -0.75% 1.20% 1.09% 1.07% *ICE BofA 1-3 Yr US Treasury & Agency Index to 12/31/14 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 value; it includes interest earnings, realized and unrealized gains and losses in the portfolio. 22 CA 27 Portfolio Characteristics City of Dublin Reporting Account As of December 31, 2023 12/31/23 Portfolio 09/30/23 Portfolio Average Maturity (yrs) Modified Duration Average Purchase Yield Average Market Yield Average Quality* Total Market Value *Portfolio is S&P and Moody's, respectively. 0.00 0.00 5.25% 5.24% AAA/NR 136,449,154 0.00 0.00 5.06% 5.06% AAA/NR 109,135,869 23 Q 28 Sector Distribution City of Dublin Reporting Account December 31, 2023 September 30, 2023 LAIF 19.6% Local Gov Investment Pool 80.4% Local Gov Investment Pool 75.7% As of December 31, 2023 LAIF 24.3% Issuers City of Dublin Reporting Account — Account #10219 As of December 31, 2023 Issue Name Investment Type % Portfolio CAMP Local Agency Investment Fund TOTAL Local Gov Investment Pool LAIF 80.37% 19.63% 100.00% 25 Q 30 Section 3 I Consolidated Information 26 Q 31 Portfolio Characteristics City of Dublin Consolidated As of December 31, 2023 12/31/23 Portfolio 09/30/23 Portfolio Average Maturity (yrs) Modified Duration Average Purchase Yield Average Market Yield Average Quality* Total Market Value * Portfolio is S&P and Moody's respectively. 1.95 1.67 3.62% 4.71% AA+/Aa 1 426,449,339 2.08 1.77 3.31% 5.19% AA+/Aa 1 390,133,446 27 a 32 Sector Distribution December 31, 2023 US Treasury 26.1% Supranational 5.5% Money Market Fund 0.3% Local Gov Investment Pool 25.7% ABS 6.1% LAIF 6.3% Agency 10.7 City of Dublin Consolidated CMO 2.0% Corporate 17.2% US Treasury 26.4% Supranational 6.0% Money Market Fund 0.2 Local Gov Investment Pool 21.2% September 30, 2023 LAIF 6.8% As of December 31, 2023 ABS 7.3% Agency 12.1% CMO 1.9% Corporate 18.2% 28 CM 33 Section 4 I Portfolio Holdings Holdings Report City of Dublin - Account #10198 As of December 31, 2023 CUSIP Security Description Par Value/Units Purchase Date Cost Value Mkt Price Market Value % of Port. Moody/S&P Maturity Book Yield Book Value Mkt YTM Accrued Int. Gain/Loss Fitch Duration ABS 43813KAC6 Honda Auto Receivables Trust 2020-3 A3 0.370% Due 10/18/2024 58769KAD6 Mercedes-Benz Auto Lease Trust 2021-B A3 0.400% Due 11/15/2024 44891WAC3 Hyundai Auto Lease Trust 2022-A A3 1.160% Due 01/15/2025 89238LAC4 Toyota Lease Owner Trust 2022-A A3 1.960% Due 02/20/2025 36265MAC9 GM Financial Auto Lease Trust 2022-1 A3 1.900% Due 03/20/2025 05601XAC3 BMW Vehicle Lease Trust 2022-1 A3 1.100% Due 03/25/2025 36266FAC3 GM Financial Auto Lease Trust 2022-2 A3 3.420% Due 06/20/2025 47788UAC6 John Deere Owner Trust 2021-A A3 0.360% Due 09/15/2025 44933LAC7 Hyundai Auto Receivables Trust 2021-A A3 0.380% Due 09/15/2025 05593AAC3 BMW Vehicle Lease Trust 2023-1 A3 5.160% Due 11/25/2025 44934KAC8 Hyundai Auto Receivables Trust 2021-B A3 0.380% Due 01/15/2026 43815GAC3 Honda Auto Receivables Trust 2021-4 A3 0.880% Due 01/21/2026 47789QAC4 John Deere Owner Trust 2021-B A3 0.520% Due 03/16/2026 44935FAD6 Hyundai Auto Receivables Trust 2021-C A3 0.740% Due 05/15/2026 43815BAC4 Honda Auto Receivables Trust 2022-1 A3 1.880% Due 05/15/2026 05602RAD3 BMW Vehicle Owner Trust 2022-A A3 3.210% Due 08/25/2026 362554AC1 GM Financial Securitized Term 2021-4 A3 0.680% Due 09/16/2026 22,664.36 09/22/2020 22,661.03 (1.94%) 22,664.36 102,314.29 06/22/2021 102,306.56 0.40% 102,314.17 379,826.87 01/11/2022 379,818.47 1.16% 379,825.79 1,240,081.13 02/23/2022 1,239,885.94 1.98% 1,240,041.54 833,236.01 02/15/2022 833,228.84 1.91% 833,235.01 196,302.34 01/11/2022 196,272.99 1.00% 196,299.24 874,548.32 05/03/2022 874,457.11 3.45% 874,525.43 227,914.32 03/02/2021 227,870.52 0.37% 227,904.73 209,671.57 04/20/2021 209,649.51 0.20% 209,668.89 295,000.00 02/07/2023 294,992.98 4.96% 294,995.90 954,605.10 07/20/2021 954,394.42 0.15% 954,557.63 532, 862.48 11/16/2021 532, 750.15 0.89% 532,822.95 587,980.03 07/13/2021 587,927.57 0.52% 587,962.75 376, 330.16 11/09/2021 376, 246.17 0.75% 376,302.53 1,283,313.29 02/15/2022 1,283,120.28 1.89% 1,283,231.30 829,843.72 05/10/2022 829,800.57 3.10% 829,823.13 421,454.50 10/13/2021 421,443.75 0.66% 421,450.69 99.73 7.04% 99.81 6.17% 99.35 5.93% 99.26 5.68% 99.37 5.69% 99.43 6.24% 99.38 5.86% 98.22 5.62% 98.59 5.75% 99.87 5.37% 97.82 5.84% 97.04 5.75% 97.29 5.63% 97.28 5.70% 97.33 5.61% 98.59 5.24% 96.65 5.81% 22,602.57 3.03 102,120.72 18.19 377,362.17 195.82 1,230,874.77 742.67 827,969.96 483.74 195,188.32 35.99 869,149.73 913.90 223,867.24 36.47 206,704.92 35.41 294,627.41 253.70 933,831.94 161.22 517,065.24 130.26 572,055.77 135.89 366,112.04 123.77 1,249,075.76 1,072.28 818,129.65 443.97 407,326.50 119.41 0.01% NR / AAA (61.79) AAA 0.04% NR / AAA (193.45) AAA 0.13% Aaa / AAA (2,463.62) NR 0.42% NR / AAA (9,166.77) AAA 0.29% Aaa / NR (5,265.05) AAA 0.07% NR / AAA (1,110.92) AAA 0.30% NR / AAA (5,375.70) AAA 0.08% Aaa / NR (4,037.49) AAA 0.07% NR / AAA (2,963.97) AAA 0.10% Aaa / AAA (368.49) NR 0.32% NR / AAA (20,725.69) AAA 0.18% Aaa / NR (15,757.71) AAA 0.20% Aaa / NR (15,906.98) AAA 0.13% NR / AAA (10,190.49) AAA 0.43% Aaa / AAA (34,155.54) NR 0.28% Aaa / AAA (11,693.48) NR 0.14% Aaa / AAA (14,124.19) NR 0.80 0.04 0.88 0.03 1.04 0.13 1.14 0.20 1.22 0.17 1.23 0.11 1.47 0.25 1.71 0.34 1.71 0.26 1.90 0.80 2.04 0.40 2.06 0.61 2.21 0.53 2.37 0.55 2.37 0.71 2.65 0.70 2.71 0.65 30 CM 35 Holdings Report City of Dublin - Account #10198 As of December 31, 2023 CUSIP Security Description Par Value/Units Purchase Date Cost Value Mkt Price Market Value % of Port. Moody/S&P Maturity Book Yield Book Value Mkt YTM Accrued Int. Gain/Loss Fitch Duration 47787JAC2 448977AD0 380146AC4 362585AC5 47800AAC4 025821118 47800BAC2 92348KAV5 58768PAC8 362583AD8 05592XAD2 89239FAD4 161571HT4 TOTAL ABS John Deere Owner Trust 2022-A A3 2.320% Due 09/16/2026 Hyundai Auto Receivables Trust 2022-A A3 2.220% Due 10/15/2026 GM Financial Auto Receivables 2022-1 A3 1.260% Due 11/16/2026 GM Financial Securitized ART 2022-2 A3 3.100% Due 02/16/2027 John Deere Owner Trust 2022-B A3 3.740% Due 02/16/2027 American Express Credit Trust 2022-2 A 3.390% Due 05/17/2027 John Deere Owner Trust 2022-C A3 5.090% Due 06/15/2027 Verizon Master Trust 2022-5 A1A 3.720% Due 07/20/2027 Mercedes-Benz Auto Receivables 2022-1 A3 5.210% Due 08/16/2027 GM Auto Receivable Trust 2023-2 A3 4.470% Due 02/16/2028 BMW Vehicle Owner Trust 2023-A A3 5.470% Due 02/25/2028 Toyota Auto Receivables Owner 2023-D A3 5.540% Due 08/15/2028 Chase Issuance Trust 23-Al A 5.160% Due 09/15/2028 849,266.84 1,048,780.13 416,976.37 780,000.00 1,045,000.00 2,205,000.00 1,350,000.00 915,000.00 2,790,000.00 625,000.00 550,000.00 980,000.00 3,090,000.00 03/10/2022 2.34% 03/09/2022 2.23% 01/11/2022 1.23% 04/05/2022 3.13% 07/12/2022 3.77% 05/17/2022 3.42% 10/12/2022 5.15% 08/02/2022 3.75% 11/15/2022 5.28% 04/04/2023 4.53% 07/11/2023 5.54% 11/07/2023 5.61% 09/07/2023 5.23% 26,012,971.83 3.35% 849,078.98 849,175.33 1,048,739.75 1,048,762.07 416,940.14 416,961.41 779,836.98 779,918.75 1,044,900.20 1,044,940.70 2,204,512.25 2,204,775.64 1,349,895.24 1,349,929.69 914,959.74 914,979.93 2,789,448.14 2,789,624.13 624,982.81 624,986.52 549,902.54 549,915.82 979,894.36 979,898.23 3,089,143.45 3,089,227.85 26,009,061.44 26,010,722.11 97.77 5.39% 97.72 5.40% 97.07 5.49% 98.06 5.34% 98.38 5.27% 97.95 4.99% 99.99 5.15% 99.90 4.58% 100.14 5.15% 99.36 4.90% 101.04 4.95% 101.95 3.86% 101.55 4.59% 5.22% 830,297.62 875.69 1,024,915.14 1,034.80 404,762.72 218.91 764,853.18 1,007.50 1,028,097.13 1,737.02 2,159,883.50 3,322.20 1,349,894.70 3,054.00 914,106.05 1,040.05 2,793,850.20 6,460.40 620,978.75 1,164.06 555,717.80 501.42 999,122.76 2,412.98 3,137,789.94 7,086.40 25,798,334.20 34,821.15 0.29% (18,877.71) 0.35% (23,846.93) 0.14% (12,198.69) 0.26% (15,065.57) 0.36% (16,843.57) 0.75% (44,892.14) 0.47% (34.99) 0.32% (873.88) 0.97% 4,226.07 0.21% (4,007.77) 0.19% 5,801.98 0.35% 19,224.53 1.08% 48,562.09 8.91% (212,387.91) Aaa / NR AAA NR / AAA AAA NR / AAA AAA Aaa / AAA NR Aaa / NR AAA NR / AAA AAA Aaa / NR AAA NR / AAA AAA Aaa / AAA NR Aaa / AAA NR NR / AAA AAA NR / AAA AAA NR / AAA AAA Aaa / AAA AAA 2.71 0.73 2.79 0.72 2.88 0.69 3.13 0.88 3.13 1.08 3.38 1.30 3.46 1.30 3.55 0.62 3.63 1.18 4.13 1.68 4.16 1.78 4.63 1.11 4.71 2.46 3.05 1.03 Agency 3133EKWV4 FFCB Note 2,500,000.00 08/13/2019 2,524,140.00 98.21 2,455,137.50 0.85% Aaa / AA+ 0.57 1.850% Due 07/26/2024 1.65% 2,502,763.82 5.08% 19,913.19 (47,626.32) AA+ 0.55 3130A2UW4 FHLB Note 2,000,000.00 10/10/2019 2,122,020.00 98.60 1,971,924.00 0.69% Aaa / AA+ 0.70 2.875% Due 09/13/2024 1.58% 2,017,363.60 4.93% 17,250.00 (45,439.60) NR 0.68 3135G0W66 FNMA Note 2,000,000.00 11/08/2019 1,983,400.00 97.45 1,949,040.00 0.67% Aaa / AA+ 0.79 1.625% Due 10/15/2024 1.80% 1,997,342.52 4.96% 6,861.11 (48,302.52) AA+ 0.77 31 CM 36 Holdings Report City of Dublin - Account #10198 As of December 31, 2023 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Moody/S&P Maturity Gain/Loss Fitch Duration 3133ENZ94 3135G0X24 3137EAEPO 3135G03U5 3135G04Z3 3137EAEU9 3135G05X7 3137EAEX3 3135G06G3 3130ATUC9 3130ATS57 880591EZ1 3130AWMN7 TOTAL Agency FFCB Note 4.500% Due 11/18/2024 FNMA Note 1.625% Due 01/07/2025 FHLMC Note 1.500% Due 02/12/2025 FNMA Note 0.625% Due 04/22/2025 FNMA Note 0.500% Due 06/17/2025 FHLMC Note 0.375% Due 07/21/2025 FNMA Note 0.375% Due 08/25/2025 FHLMC Note 0.375% Due 09/23/2025 FNMA Note 0.500% Due 11/07/2025 FHLB Note 4.500% Due 12/12/2025 FHLB Note 4.500% Due 03/10/2028 Tennessee Valley Authority Note 3.875% Due 03/15/2028 FHLB Note 4.375% Due 06/09/2028 5,480,000.00 4,200,000.00 4,200,000.00 1,825,000.00 3,435,000.00 1,745,000.00 2,755,000.00 2,655,000.00 2,860,000.00 4,000,000.00 3,000,000.00 2,645,000.00 1,500,000.00 46,800,000.00 11/15/2022 4.56% Various 1.18% Various 1.23% 04/22/2020 0.67% 06/17/2020 0.54% 07/21/2020 0.48% 08/25/2020 0.47% 09/23/2020 0.44% 11/09/2020 0.57% 02/09/2023 4.22% 03/21/2023 4.01% Various 3.73% 07/26/2023 4.27% 2.12% 5,474,191.20 5,477,441.27 4,287,898.80 4,218,515.65 4,254,786.30 4,212,388.24 1,821,240.50 1,824,016.84 3,427,889.55 3,432,922.22 1,736,309.90 1,742,298.64 2,742,106.60 2,750,744.61 2,647,008.45 2,652,235.38 2,849,761.20 2,856,199.11 4,029,238.40 4,020,066.12 3,065,010.00 3,054,801.82 2,661,791.35 2,659,450.89 1,506,615.00 1,506,027.50 47,133,407.25 46,924,578.23 99.63 4.93% 96.90 4.78% 96.54 4.72% 95.08 4.54% 94.36 4.53% 93.97 4.43% 93.49 4.51% 93.33 4.43% 93.15 4.40% 100.23 4.37% 102.36 3.88% 99.55 3.99% 101.83 3.92% 4.56% 5,459,839.08 29,455.00 4,069,842.00 32,987.50 4,054,717.81 24,325.00 1,735,173.50 2,186.20 3,241,386.23 667.92 1,639,825.36 2,908.33 2,575,696.34 3,615.94 2,477,985.84 2,710.31 2,663,949.86 2,145.00 4,009,388.00 9,500.00 3,070,941.00 41,625.00 2,633,203.30 30,178.71 1,527,439.50 4,010.42 45,535,489.32 230,339.63 1.89% (17,602.19) 1.41% (148,673.65) 1.41% (157,670.43) 0.60% (88,843.34) 1.12% (191,535.99) 0.57% (102,473.28) 0.89% (175,048.27) 0.86% (174,249.54) 0.92% (192,249.25) 1.39% (10,678.12) 1.07% 16,139.18 0.92% (26,247.59) 0.53% 21,412.00 15.78% (1,389,088.91) Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ NR Aaa / AA+ NR Aaa / AA+ AA+ Aaa / AA+ NR Aaa / AA+ AA+ 0.88 0.85 1.02 0.98 1.12 1.08 1.31 1.27 1.46 1.42 1.56 1.52 1.65 1.61 1.73 1.68 1.85 1.80 1.95 1.84 4.19 3.75 4.21 3.80 4.44 4.00 1.75 1.64 CMO 3137BFE98 FHLMC K041 A2 3.171% Due 10/25/2024 3137BSRE5 FHLMC K059 A2 3.120% Due 09/25/2026 1,978,638.18 2,000,000.00 07/01/2021 2,128,427.28 0.64% 2,013,360.86 02/18/2022 2,085,625.00 1.92% 2,050,544.70 98.31 1,945,137.86 0.67% Aaa / AAA 5.31% 5,228.55 (68,223.00) AAA 96.52 1,930,380.00 0.67% NR / AAA 4.48% 5,200.00 (120,164.70) AAA 0.82 0.70 2.74 2.48 32 CM 37 Holdings Report City of Dublin - Account #10198 As of December 31, 2023 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Moody/S&P Maturity Gain/Loss Fitch Duration 3137F4D41 3137FG6X8 3137FK4M5 TOTAL CMO FHLMC K074 A2 3.600% Due 01/25/2028 FHLMC K077 A2 3.850% Due 05/25/2028 FHLMC K085 A2 4.060% Due 10/25/2028 1,000,000.00 2,815,000.00 1,100,000.00 8,893,638.18 07/25/2023 5.78% 05/24/2023 4.65% 10/30/2023 5.60% 3.34% 954,414.06 958,772.76 2,763,318.36 2,769,445.27 1,038,253.91 1,040,290.61 8,970,038.61 8,832,414.20 97.06 4.38% 97.89 4.36% 98.52 4.38% 4.60% 970,611.00 600.00 2,755,702.03 1,806.29 1,083,687.00 3,721.67 8,685,517.89 16,556.51 0.33% 11,838.24 0.95% (13,743.24) 0.37% 43,396.39 3.00% (146,896.31) NR / NR AAA NR / NR AAA Aaa / NR NR Aaa / AAA AAA 4.07 3.64 4.40 3.89 4.82 4.25 3.24 2.88 Corporate 023135BW5 24422ETT6 79466LAG9 90331HPL1 00440EAS6 14913R2V8 747525AF0 61747YEA9 438516CB0 78015K7H1 66815L2J7 02665 W DL2 Amazon.com Inc Note 0.450% Due 05/12/2024 John Deere Capital Corp Note 2.650% Due 06/24/2024 Salesforce.com Inc Callable Note Cont 7/15/2022 0.625% Due 07/15/2024 US Bank NA Callable Note Cont 12/21/2024 2.050% Due 01/21/2025 Chubb INA Holdings Inc Note 3.150% Due 03/15/2025 Caterpillar Financial Service Note 3.400% Due 05/13/2025 Qualcomm Inc Callable Note Cont 2/20/2025 3.450% Due 05/20/2025 Morgan Stanley Callable Note Cont 5/30/2024 0.790% Due 05/30/2025 Honeywell Intl Callable Note Cont 5/1/2025 1.350% Due 06/01/2025 Royal Bank of Canada Note 1.150% Due 06/10/2025 Northwestern Mutual Gib! Note 4.000% Due 07/01/2025 American Honda Finance Note 1.200% Due 07/08/2025 1,000,000.00 2,000,000.00 465,000.00 2,610,000.00 2,500,000.00 1,165,000.00 3,000,000.00 3,040,000.00 2,500,000.00 1,000,000.00 2,500,000.00 1,000,000.00 05/10/2021 0.50% Various 1.32% 06/29/2021 0.64% 01/16/2020 2.10% Various 0.76% 05/10/2022 3.44% Various 1.78% 05/26/2021 0.77% 06/23/2020 0.85% 02/22/2021 0.86% 06/27/2022 4.01% 08/10/2021 1.00% 998,540.00 999,824.16 2,093,680.00 2,012,391.30 464,762.85 464,957.71 2,604,440.70 2,608,825.46 2,753,600.00 2,570,540.39 1,163,520.45 1,164,327.72 3,159,848.58 3,066,827.13 3,041,611.70 3,040,220.98 2,559,500.00 2,516,328.06 1,012,240.00 1,004,108.64 2,499,150.00 2,499,575.78 1,007,640.00 1,002,968.13 98.23 5.40% 98.71 5.40% 97.48 5.43% 96.63 5.37% 97.79 5.06% 98.29 4.70% 98.18 4.82% 97.76 6.07% 95.46 4.70% 94.77 4.95% 99.09 4.64% 94.75 4.82% 982,328.00 612.50 1,974,190.00 1,030.56 453,278.28 1,340.10 2,522,118.69 23,780.00 2,444,687.50 23,187.50 1,145,072.68 5,281.33 2,945,433.00 11,787.50 2,971,852.32 2,068.05 2,386,620.00 2,812.50 947,674.00 670.83 2,477,160.00 50,000.00 947,532.00 5,766.67 0.34% (17,496.16) 0.68% (38,201.30) 0.16% (11,679.43) 0.88% (86,706.77) 0.85% (125,852.89) 0.40% (19,255.04) 1.02% (121,394.13) 1.03% (68,368.66) 0.82% (129,708.06) 0.33% Al/AA AA- A2 / A A+ A2 / A+ NR A2 / A+ A+ A3 / A A A2 / A A+ A2 / A NR Al/A- A+ A2 / A A Al/A (56,434.64) AA- 0.87% Aaa / AA+ (22,415.78) AAA 0.33% A3 / A- (55,436.13) A 0.36 0.36 0.48 0.47 0.54 0.52 1.06 1.01 1.21 1.15 1.37 1.31 1.39 1.33 1.41 1.35 1.42 1.37 1.44 1.40 1.50 1.41 1.52 1.47 33 CM 38 Holdings Report City of Dublin - Account #10198 As of December 31, 2023 CUSIP Security Description Par Value/Units Purchase Date Cost Value Mkt Price Market Value % of Port. Moody/S&P Maturity Book Yield Book Value Mkt YTM Accrued Int. Gain/Loss Fitch Duration 89114QCK2 06051GHY8 46647PBH8 808513BR5 91324PEC2 89236TJK2 58989V2D5 06368FAC3 931142ER0 59217GER6 87612EBM7 808513BY0 084664CZ2 40139LBF9 023135CF1 Toronto Dominion Bank Note 0.750% Due 09/11/2025 Bank of America Corp Callable Note Cont 2/13/2025 2.015% Due 02/13/2026 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 03/13/2026 Charles Schwab Corp Callable Note Cont 4/13/2026 1.150% Due 05/13/2026 United Health Group Inc Callable Note Cont 4/15/2026 1.150% Due 05/15/2026 Toyota Motor Credit Corp Note 1.125% Due 06/18/2026 Met Tower Global Funding Note 1.250% Due 09/14/2026 Bank of Montreal Note 1.250% Due 09/15/2026 Wal-Mart Stores Callable Note Cont 08/17/2026 1.050% Due 09/17/2026 Metlife Note 1.875% Due 01/11/2027 Target Corp Callable Note Cont 12/15/2026 1.950% Due 01/15/2027 Charles Schwab Corp Callable Note Cont 2/3/2027 2.450% Due 03/03/2027 Berkshire Hathaway Callable Note Cont 2/15/2027 2.300% Due 03/15/2027 Guardian Life Glob Fun Note 3.246% Due 03/29/2027 Amazon.com Inc Callable Note Cont 3/13/2027 3.300% Due 04/13/2027 1,000,000.00 1,250,000.00 1,000,000.00 1,370,000.00 2,000,000.00 2,485,000.00 1,285,000.00 2,500,000.00 585,000.00 1,860,000.00 1,340,000.00 585,000.00 2,295,000.00 765,000.00 1,750,000.00 02/16/2021 0.81% 03/04/2021 1.14% 04/29/2021 1.20% 05/11/2021 1.20% Various 1.90% 06/15/2021 1.13% 09/07/2021 1.27% Various 1.29% 09/08/2021 1.09% 01/03/2022 1.90% 01/19/2022 1.99% 03/01/2022 2.47% 03/07/2022 2.30% 03/24/2022 3.25% 04/25/2022 3.34% 997,230.00 998,970.81 1,291,725.00 1,261,867.54 1,030,270.00 1,009,361.63 1,366,821.60 1,368,497.83 1,939,210.15 1,965,750.85 2,483,906.60 2,484,461.68 1,283,817.80 1,284,360.99 2,495,539.50 2,497,586.55 583,894.35 584,400.55 1,857,879.60 1,858,715.68 1,337,722.00 1,338,608.38 584,368.20 584,599.68 2,294,563.95 2,294,720.84 765,000.00 765,000.00 1,746,972.50 1,747,998.37 93.31 4.91% 96.09 5.66% 96.07 5.41% 91.64 4.93% 92.57 4.49% 92.34 4.44% 90.96 4.86% 91.09 4.80% 91.88 4.25% 91.31 5.00% 93.30 4.33% 93.09 4.83% 94.58 4.12% 95.21 4.86% 97.07 4.26% 933,063.00 2,291.67 1,201,145.00 9,655.21 960,741.00 6,015.00 1,255,526.91 2,100.67 1,851,444.00 2,938.90 2,294,636.58 1,009.53 1,168,841.14 4,774.13 2,277,320.00 9,201.39 537,501.51 1,774.50 1,698,431.10 16,468.75 1,250,183.82 12,048.83 544,561.88 4,697.88 2,170,604.12 15,542.25 728,345.79 6,345.93 1,698,735.50 12,512.50 0.32% (65,907.81) 0.42% (60,722.54) 0.33% (48,620.63) 0.43% (112,970.92) 0.64% (114,306.85) 0.79% (189,825.10) 0.40% (115,519.85) 0.79% (220,266.55) 0.19% (46,899.04) 0.59% (160,284.58) 0.44% (88,424.56) 0.19% (40,037.80) 0.75% (124,116.72) 0.25% (36,654.21) 0.59% (49,262.87) Al/A AA- A1 /A- AA- A1 /A- AA- A2 / A- A A2 / A+ A Al/A+ A+ Aa3 / AA- AA- A2 / A- AA- Aa2 / AA AA Aa3/AA- AA- A2 / A A A2 / A- A Aa2 / AA A+ Aa1 / AA+ NR Al/AA AA- 1.70 1.64 2.12 1.07 2.20 1.16 2.37 2.28 2.37 2.29 2.47 2.38 2.71 2.59 2.71 2.59 2.72 2.61 3.03 2.85 3.04 2.87 3.17 2.97 3.21 3.02 3.24 3.00 3.28 3.05 34 CM 39 Holdings Report City of Dublin - Account #10198 As of December 31, 2023 CUSIP Security Description Par Value/Units Purchase Date Cost Value Mkt Price Market Value % of Port. Moody/S&P Maturity Book Yield Book Value Mkt YTM Accrued Int. Gain/Loss Fitch Duration 46647PCB0 JP Morgan Chase & Co Callable Note Cont 4/22/2026 1.578% Due 04/22/2027 927804GH1 Virginia Electric Power Corp Callable Note Cont. 4/15/2027 3.750% Due 05/15/2027 500,000.00 1,000,000.00 08/23/2022 4.96% Various 3.75% 449,845.00 464,410.88 999,773.40 999,836.11 92.28 5.16% 97.63 4.51% 461,412.00 1,512.25 976,340.00 4,791.67 0.16% (2,998.88) 0.34% (23,496.11) Al/A- AA- A2 / BBB+ A 3.31 2.21 3.37 3.11 14913R3A3 Caterpillar Financial Service Note 1,375,000.00 Various 1,357,243.75 97.65 1,342,710.88 0.47% A2 / A 3.62 3.600% Due 08/12/2027 3.89% 1,361,966.70 4.31% 19,112.50 (19,255.82) A+ 3.30 931142EX7 Wal-Mart Stores Callable Note Cont 09/09/2027 1,500,000.00 Various 1,498,302.30 99.44 1,491,654.00 0.52% Aa2 / AA 3.69 3.950% Due 09/09/2027 3.98% 1,498,747.64 4.11% 18,433.34 (7,093.64) AA 3.36 89236TKJ3 Toyota Motor Credit Corp Note 1,500,000.00 11/22/2022 1,479,060.00 100.77 1,511,620.50 0.53% Al / A+ 3.72 4.550% Due 09/20/2027 4.88% 1,483,842.89 4.32% 19,147.92 27,777.61 A+ 3.35 023135CP9 Amazon.com Inc Callable Note Cont 11/1/2027 1,000,000.00 01/17/2023 1,014,400.00 101.53 1,015,303.00 0.35% Al / AA 3.92 4.550% Due 12/01/2027 4.21% 1,011,539.78 4.11% 3,791.67 3,763.22 AA- 3.48 89115A2M3 Toronto -Dominion Bank Note 3,000,000.00 Various 2,984,380.00 101.51 3,045,249.00 1.08% Al / A 4.03 5.156% Due 01/10/2028 5.28% 2,986,261.15 4.74% 73,473.00 58,987.85 AA- 3.52 756109AU8 Realty Income Corp Callable Note Cont 10/15/2027 960,000.00 04/10/2023 910,540.80 95.88 920,464.32 0.32% A3 / A- 4.04 3.650% Due 01/15/2028 4.87% 918,049.27 4.78% 16,157.33 2,415.05 NR 3.63 24422EWR6 John Deere Capital Corp Note 2,000,000.00 01/23/2023 2,030,780.00 101.65 2,033,096.00 0.72% A2 / A 4.06 4.750% Due 01/20/2028 4.40% 2,025,016.14 4.30% 42,486.11 8,079.86 A+ 3.58 06051GGFO Bank of America Corp Callable Note 1/20/2027 3,000,000.00 Various 2,824,349.55 96.08 2,882,346.00 1.01% Al / A- 4.06 3.824% Due 01/20/2028 5.88% 2,852,874.62 5.22% 51,305.34 29,471.38 AA- 2.79 06368LGV2 Bank of Montreal Callable Note Cont 1/1/2028 2,000,000.00 08/17/2023 1,972,380.00 101.87 2,037,302.00 0.72% A2 / A- 4.09 5.203% Due 02/01/2028 5.56% 1,974,640.59 4.68% 43,358.33 62,661.41 AA- 3.51 91324PEP3 United Health Group Inc Callable Note Cont 1/15/2028 1,500,000.00 02/21/2023 1,522,890.00 103.41 1,551,105.00 0.55% A2 / A+ 4.13 5.250% Due 02/15/2028 4.90% 1,518,893.54 4.32% 29,750.00 32,211.46 A 3.56 46647PAF3 JP Morgan Chase & Co Callable Note 2X 5/1/2027 2,000,000.00 08/16/2023 1,854,340.00 95.44 1,908,704.00 0.66% Al / A- 4.34 3.540% Due 05/01/2028 6.06% 1,865,870.71 5.04% 11,800.00 42,833.29 AA- 3.08 58933YBH7 Merck & Co Callable Note Cont 4/17/2028 3,500,000.00 Various 3,497,960.40 99.56 3,484,617.51 1.21% Al / A+ 4.38 4.050% Due 05/17/2028 4.06% 3,498,216.04 4.16% 17,325.00 (13,598.53) NR 3.89 06406RBG1 Bank of NY Mellon Corp Callable Note Cont 6/13/2027 1,500,000.00 10/26/2023 1,395,930.00 97.55 1,463,244.00 0.51% Al / A 4.45 3.992% Due 06/13/2028 6.26% 1,399,814.13 4.77% 2,994.00 63,429.87 AA- 3.18 35 CM 40 Holdings Report City of Dublin - Account #10198 As of December 31, 2023 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Moody/S&P Maturity Gain/Loss Fitch Duration 02665 W EM9 American Honda Finance Note 5.125% Due 07/07/2028 78016HZ52 ROYAL BANK OF CANADA Note 5.200% Due 08/01/2028 TOTAL Corporate Money Market Fund 31846V203 First American Govt Obligation Fund Class Y TOTAL Money Market Fund Supranational 459058JB0 4581XODN5 459058JL8 4581X0DV7 459058KT9 45950KDD9 4581X0DC9 Intl. Bank Recon & Development Note 0.625% Due 04/22/2025 Inter -American Dev Bank Note 0.625% Due 07/15/2025 Intl. Bank Recon & Development Note 0.500% Due 10/28/2025 Inter -American Dev Bank Note 0.875% Due 04/20/2026 Intl. Bank Recon & Development Note 3.500% Due 07/12/2028 International Finance Corp Note 4.500% Due 07/13/2028 Inter -American Dev Bank Note 3.125% Due 09/18/2028 TOTAL Supranational 1,370,000.00 2,500,000.00 75,055,000.00 1,159,230.66 1,159,230.66 2,260,000.00 1,685,000.00 6,000,000.00 4,615,000.00 5,000,000.00 1,605,000.00 3,360,000.00 24,525,000.00 US Treasury 91282CDZ1 US Treasury Note 1,500,000.00 1.500% Due 02/15/2025 10/12/2023 5.60% 09/07/2023 5.54% 3.00% Various 4.98% 4.98% 04/15/2020 0.70% 01/13/2021 0.53% Various 0.55% 04/13/2021 0.97% Various 4.35% 07/06/2023 4.53% Various 4.32% 2.16% 05/06/2022 2.92% 1,343,288.50 1,344,480.15 2,464,100.00 2,466,351.29 75,017,019.23 74,666,608.47 1,159,230.66 1,159,230.66 1,159,230.66 1,159,230.66 2,251,253.80 2,257,715.26 1,692,329.75 1,687,504.26 5,986,632.00 5,994,860.41 4,593,863.30 4,605,276.65 4,813,059.00 4,827,531.02 1,603,218.45 1,603,386.17 3,187,150.40 3,189,837.32 24,127,506.70 24,166,111.09 1,443,867.19 1,477,225.48 102.84 4.42% 101.92 4.73% 4.78% 1.00 4.98% 4.98% 94.99 4.62% 94.23 4.55% 93.19 4.42% 92.71 4.23% 97.91 4.01% 102.09 3.99% 96.18 4.02% 4.24% 96.50 4.73% 1,408,891.56 33,936.04 2,548,075.00 58,138.89 0.50% 64,411.41 0.90% 81,723.71 72,851,162.59 25.36% 683,228.07 (1,815,445.88) 1,159,230.66 0.00 1,159,230.66 0.00 2,146,688.12 2,707.29 1,587,709.79 4,856.08 5,591,628.00 5,250.00 4,278,626.50 7,964.08 4,895,660.00 82,152.77 1,638,568.58 33,705.00 3,231,480.00 30,041.65 23,370,360.99 166,676.87 1,447,558.50 8,498.64 0.40% 0.00 0.40% 0.00 0.74% (111,027.14) 0.55% (99,794.47) 1.93% (403,232.41) 1.48% (326,650.15) 1.72% 68,128.98 0.58% 35,182.41 1.12% 41,642.68 8.12% (795,750.10) A3/A- A Al/A AA - Al / A A+ Aaa / AAA AAA Aaa / AAA AAA Aaa / AAA NR Aaa / AAA NR Aaa / AAA AAA Aaa / AAA AAA Aaa / AAA NR Aaa / AAA NR Aaa / AAA NR Aaa / AAA AAA 0.50% Aaa / AA+ (29,666.98) AA+ 4.52 3.91 4.59 3.96 2.84 2.48 0.00 0.00 0.00 0.00 1.31 1.27 1.54 1.50 1.83 1.78 2.30 2.23 4.53 4.07 4.54 3.99 4.72 4.29 3.01 2.79 1.13 1.09 36 CA' 41 Holdings Report City of Dublin - Account #10198 As of December 31, 2023 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Moody/S&P Maturity Gain/Loss Fitch Duration 91282CED9 912828ZL7 91282CFE6 91282CAM3 91282CFP1 91282CBC4 91282CBH3 91282CBQ3 91282CBT7 91282CCF6 91282CCW9 91282CDG3 912828Z78 91282CEN7 91282CEW7 91282CFM8 91282CGC9 91282CGT2 US Treasury Note 1.750% Due 03/15/2025 US Treasury Note 0.375% Due 04/30/2025 US Treasury Note 3.125% Due 08/15/2025 US Treasury Note 0.250% Due 09/30/2025 US Treasury Note 4.250% Due 10/15/2025 US Treasury Note 0.375% Due 12/31/2025 US Treasury Note 0.375% Due 01/31/2026 US Treasury Note 0.500% Due 02/28/2026 US Treasury Note 0.750% Due 03/31/2026 US Treasury Note 0.750% Due 05/31/2026 US Treasury Note 0.750% Due 08/31/2026 US Treasury Note 1.125% Due 10/31/2026 US Treasury Note 1.500% Due 01/31/2027 US Treasury Note 2.750% Due 04/30/2027 US Treasury Note 3.250% Due 06/30/2027 US Treasury Note 4.125% Due 09/30/2027 US Treasury Note 3.875% Due 12/31/2027 US Treasury Note 3.625% Due 03/31/2028 2,000,000.00 2,750,000.00 3,000,000.00 2,500,000.00 10,000,000.00 1,000,000.00 4,000,000.00 2,500,000.00 5,000,000.00 2,000,000.00 2,000,000.00 5,000,000.00 4,500,000.00 7,000,000.00 9,000,000.00 10,000,000.00 10,000,000.00 7,000,000.00 03/15/2022 2.00% Various 0.38% Various 4.34% 10/16/2020 0.32% Various 4.24% 12/29/2020 0.38% 02/23/2021 0.58% 03/26/2021 0.83% Various 0.85% 06/18/2021 0.91% 08/30/2021 0.77% Various 1.25% Various 2.15% Various 3.55% Various 3.21% Various 3.95% Various 3.70% Various 3.58% 1,985,312.50 1,994,111.59 2,749,033.20 2,749,736.57 2,905,703.13 2,944,801.60 2,491,406.25 2,496,965.79 10,002,724.61 10,001,968.17 999,921.88 999,968.77 3,960,625.00 3,983,371.60 2,459,960.94 2,482,420.25 4,974,804.69 4,988,647.59 1,985,000.00 1,992,678.67 1,998,515.63 1,999,209.04 4,970,498.06 4,982,941.43 4,367,285.16 4,414,582.50 6,761,484.38 6,829,269.79 9,018,066.41 9,009,805.86 10,074,062.50 10,057,997.70 10,078,828.13 10,063,940.93 7,014,042.96 7,012,180.64 96.63 4.65% 94.63 4.57% 98.01 4.41% 93.13 4.38% 99.81 4.36% 92.68 4.23% 92.39 4.23% 92.41 4.20% 92.78 4.15% 92.31 4.13% 91.68 4.08% 92.28 4.04% 92.82 4.00% 96.19 3.98% 97.72 3.95% 100.63 3.94% 99.84 3.92% 98.91 3.90% 1,932,578.00 10,384.62 2,602,402.00 1,756.52 2,940,234.00 35,411.01 2,328,125.00 1,588.11 9,981,250.00 90,573.76 926,758.00 10.30 3,695,624.00 6,277.17 2,310,255.00 4,223.90 4,638,865.00 9,528.69 1,846,172.00 1,311.48 1,833,594.00 5,068.68 4,613,865.00 9,581.05 4,177,089.00 28,247.28 6,733,398.00 32,788.46 8,795,043.00 803.57 10,063,280.00 104,815.57 9,983,590.00 1,064.56 6,923,714.00 64,477.46 0.67% (61,533.59) 0.90% (147,334.57) 1.03% (4,567.60) 0.80% (168,840.79) 3.47% (20,718.17) 0.32% (73,210.77) 1.28% (287,747.60) 0.80% (172,165.25) 1.60% (349,782.59) 0.64% (146,506.67) 0.63% (165,615.04) 1.59% (369,076.43) 1.45% (237,493.50) 2.33% (95,871.79) 3.03% (214,762.86) 3.51% 5,282.30 3.44% (80,350.93) 2.41% (88,466.64) Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ 1.21 1.17 1.33 1.30 1.62 1.54 1.75 1.71 1.79 1.69 2.00 1.95 2.09 2.03 2.16 2.11 2.25 2.18 2.42 2.35 2.67 2.58 2.84 2.73 3.09 2.94 3.33 3.13 3.50 3.27 3.75 3.41 4.00 3.67 4.25 3.86 37 CM 42 I Holdings Report City of Dublin - Account #10198 As of December 31, 2023 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Moody/S&P Maturity Gain/Loss Fitch Duration 91282CHE4 91282CHQ7 91282CJA0 91282CJN2 US Treasury Note 3.625% Due 05/31/2028 US Treasury Note 4.125% Due 07/31/2028 US Treasury Note 4.625% Due 09/30/2028 US Treasury Note 4.375% Due 11/30/2028 TOTAL US Treasury TOTAL PORTFOLIO TOTAL MARKET VALUE PLUS ACCRUALS 4,500,000.00 9,000,000.00 3,750,000.00 5,500,000.00 113,500,000.00 295,945,840.67 Various 4.07% Various 4.51% Various 4.92% Various 4.03% 3.07% 4,412,773.44 4,421,362.19 8,848,203.13 8,857,028.28 3,702,089.84 3,703,974.83 5,584,941.41 5,584,612.43 112,789,150.44 113,048,801.70 295,205,414.33 2.87% 294,808,466.46 98.94 3.89% 101.03 3.88% 103.22 3.88% 102.33 3.85% 4.06% 4.46% 4,452,363.00 14,262.30 9,092,817.00 155,360.05 3,870,705.00 44,070.19 5,628,045.50 21,038.25 110,817,325.00 651,141.62 288,217,420.65 1,782,763.85 290,000,184.50 1.54% 31,000.81 3.19% 235,788.72 1.35% 166,730.17 1.95% 43,433.07 38.44% (2,231,476.70) Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ Aaa / AA+ AA+ 100.00% Aa1 / AA (6,591,045.81) AA+ 4.42 4.03 4.59 4.08 4.75 4.20 4.92 4.38 3.27 3.02 2.87 2.45 38 CM 43 I Holdings Report City of Dublin Reporting Account - Account #10219 As of December 31, 2023 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Moody/S&P Maturity Gain/Loss Fitch Duration LAIF 90LAIF$00 Local Agency Investment Fund State Pool TOTAL LAIF Local Gov Investment Pool 90CAMP$00 California Asset Mgmt Program CAMP TOTAL Local Gov Investment Pool TOTAL PORTFOLIO TOTAL MARKET VALUE PLUS ACCRUALS 26,534,226.15 26,534,226.15 109,660,424.43 109,660,424.43 136,194,650.58 Various 26,534,226.15 3.95% 26,534,226.15 26,534,226.15 3.95% 26,534,226.15 Various 109,660,424.43 5.56% 109,660,424.43 109,660,424.43 5.56% 109,660,424.43 136,194,650.58 5.25% 136,194,650.58 1.00 3.95% 26,534,226.15 254,503.67 26,534,226.15 3.95% 254,503.67 1.00 5.56% 5.56% 109,660,424.43 0.00 109,660,424.43 0.00 136,194,650.58 5.24% 254,503.67 136,449,154.25 19.63% 0.00 19.63% 0.00 80.37% 0.00 80.37% 0.00 NR / NR NR NR/NR NR NR / AAA NR NR / AAA NR 100.00% NR / AAA 0.00 NR 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 39 CM 44 Section 5 I Transactions Transaction Ledger City of Dublin - Account #10198 September 30, 2023 through December 31, 2023 As of December 31, 2023 Transaction Settlement Type Date CUSIP Quantity Security Description Acq/Disp Price Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 10/16/2023 02665WEM9 460,000.00 American Honda Finance Note 5.125% Due: 07/07/2028 Purchase 10/16/2023 02665WEM9 910,000.00 American Honda Finance Note 5.125% Due: 07/07/2028 Purchase 10/20/2023 91282CJA0 2,750,000.00 US Treasury Note 4.625% Due: 09/30/2028 Purchase 10/30/2023 06406RBG1 1,500,000.00 Bank of NY Mellon Corp Callable Note Cont 6/13/2027 3.992% Due: 06/13/2028 98.120 5.58% 451,352.00 6,483.13 457,835.13 0.00 98.015 5.61% 891,936.50 12,825.31 904,761.81 0.00 98.570 4.95% 2,710,683.59 6,950.14 2,717,633.73 0.00 93.062 6.26% 1,395,930.00 22,787.67 1,418,717.67 0.00 Purchase 10/31/2023 91282CJA0 1,000,000.00 US Treasury Note 99.141 4.82% 991,406.25 3,917.35 995,323.60 0.00 4.625% Due: 09/30/2028 Purchase 11/02/2023 3137FK4M5 1,100,000.00 FHLMC K085 A2 94.387 5.60% 1,038,253.91 124.06 1,038,377.97 0.00 4.06% Due: 10/25/2028 Purchase 11/14/2023 89239FAD4 980,000.00 Toyota Auto Receivables Owner 2023-D A3 99.989 5.61% 979,894.36 0.00 979,894.36 0.00 5.54% Due: 08/15/2028 Purchase 11/24/2023 4581X0DC9 1,680,000.00 Inter -American Dev Bank Note 93.708 4.60% 1,574,294.40 9,625.00 1,583,919.40 0.00 3.125% Due: 09/18/2028 Purchase 11/30/2023 91282CJN2 2,500,000.00 US Treasury Note 100.473 4.27% 2,511,816.41 0.00 2,511,816.41 0.00 4.375% Due: 11/30/2028 Purchase 12/19/2023 4581X0DC9 560,000.00 Inter -American Dev Bank Note 95.947 4.07% 537,303.20 4,423.61 541,726.81 0.00 3.125% Due: 09/18/2028 Purchase 12/20/2023 4581X0DC9 560,000.00 Inter -American Dev Bank Note 95.844 4.10% 536,726.40 4,472.22 541,198.62 0.00 3.125% Due: 09/18/2028 Purchase 12/26/2023 4581X0DC9 560,000.00 Inter -American Dev Bank Note 96.219 4.01% 538,826.40 4,763.89 543,590.29 0.00 3.125% Due: 09/18/2028 41 CM 46 Transaction Ledger City of Dublin - Account #10198 September 30, 2023 through December 31, 2023 As of December 31, 2023 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Total Amount Gain/Loss Pur/Sold Purchase Subtotal 12/29/2023 TOTAL ACQUISITIONS 91282CJN2 3,000,000.00 US Treasury Note 4.375% Due: 11/30/2028 17,560,000.00 17,560,000.00 102.438 3.83% 3,073,125.00 17,231,548.42 17,231,548.42 10,399.59 3,083,524.59 86, 771.97 17, 318, 320.39 86,771.97 17,318,320.39 0.00 0.00 0.00 DISPOSITIONS Sale Sale Sale Sale Sale Sale Sale Subtotal 10/16/2023 02665WCZ2 10/16/2023 02665WEA5 10/20/2023 912828ZL7 10/31/2023 912828ZC7 11/09/2023 91282CDZ1 11/24/2023 4581X0DZ8 12/22/2023 3130A1XJ2 1,500,000.00 1,075,000.00 1,250,000.00 2,000,000.00 500,000.00 3,680,000.00 2,100,000.00 12,105,000.00 TOTAL DISPOSITIONS 12,105,000.00 American Honda Finance Note 2.4% Due: 06/27/2024 American Honda Finance Note 1.5% Due: 01/13/2025 US Treasury Note 0.375% Due: 04/30/2025 US Treasury Note 1.125% Due: 02/28/2025 US Treasury Note 1.5% Due: 02/15/2025 Inter -American Dev Bank Note 0.5% Due: 09/23/2024 FHLB Note 2.875% Due: 06/14/2024 97.733 2.49% 94.978 1.53% 92.867 0.38% 94.719 0.52% 95.465 2.92% 96.077 0.52% 98.854 1.96% 1,465,995.00 10,900.00 1,476,895.00 -33,124.32 1,021,013.50 4,165.63 1,025,179.13 -53,633.94 1,160,839.84 2,203.63 1,163,043.47 -89,022.40 1,894,375.00 3,770.60 1,898,145.60 -121,541.94 477,324.22 1,752.72 479,076.94 -14,105.32 3,535,633.60 3,117.78 3,538,751.38 -143,611.06 2,075,934.00 1,341.67 2,077,275.67 -32,758.57 11,631,115.16 27,252.03 11,658,367.19 -487,797.55 11,631,115.16 27,252.03 11,658,367.19 -487,797.55 42 CA 47 Transaction Ledger City of Dublin Reporting Account - Account #10219 September 30, 2023 through December 31, 2023 As of December 31, 2023 Transaction Type Settlement Date CUSIP Quantity Security Description c Price Aq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase Purchase Purchase Purchase Subtotal Security Contribution Security Contribution Security Contribution Subtotal 10/15/2023 10/31/2023 11/30/2023 12/29/2023 11/29/2023 12/21/2023 12/27/2023 TOTAL ACQUISITIONS 90LAIF$00 90CAMP$00 90CAMP$00 90CAMP$00 90CAMP$00 90CAMP$00 90CAMP$00 237,136.58 Local Agency Investment Fund State Pool 387,880.25 California Asset Mgmt Program CAMP 341,979.40 California Asset Mgmt Program CAMP 414,247.34 California Asset Mgmt Program CAMP 1,381,243.57 5,500,000.00 California Asset Mgmt Program CAMP 33,000,000.00 California Asset Mgmt Program CAMP 1,000,000.00 California Asset Mgmt Program CAMP 39,500,000.00 40,881,243.57 1.000 1.000 1.000 1.000 1.000 1.000 1.000 3.61% 5.56% 5.57% 5.57% 237,136.58 387,880.25 341,979.40 414, 247.34 1,381,243.57 5,500,000.00 33,000,000.00 1,000,000.00 39,500,000.00 40,881,243.57 0.00 0.00 0.00 0.00 0.00 0.00 237,136.58 387,880.25 341,979.40 414, 247.34 1,381,243.57 5,500,000.00 0.00 33,000,000.00 0.00 1,000,000.00 0.00 39,500,000.00 0.00 40,881,243.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 DISPOSITIONS Security Withdrawal Security Withdrawal Security Withdrawal Security Withdrawal Security Withdrawal 10/24/2023 10/31/2023 11/06/2023 11/14/2023 11/20/2023 90CAMP$00 90CAMP$00 90CAMP$00 90CAMP$00 90CAMP$00 1,500,000.00 Californ 1,300,000.00 Californ 6,100,000.00 Californ 350,000.00 Californ 2,000,000.00 Californ ia Asset Mgmt Program CAMP ia Asset Mgmt Program CAMP ia Asset Mgmt Program CAMP ia Asset Mgmt Program CAMP ia Asset Mgmt Program CAMP 1.000 1.000 1.000 1.000 1.000 1,500,000.00 1,300,000.00 6,100,000.00 350,000.00 2,000,000.00 0.00 1,500,000.00 0.00 0.00 1,300,000.00 0.00 0.00 6,100,000.00 0.00 0.00 350,000.00 0.00 0.00 2,000,000.00 0.00 43 CM 48 Transaction Ledger City of Dublin Reporting Account - Account #10219 September 30, 2023 through December 31, 2023 As of December 31, 2023 Transaction Settlement Type Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Total Amount Gain/Loss Pur/Sold Security Withdrawal Security Withdrawal Subtotal 12/05/2023 750,000.00 California Asset Mgmt Program CAMP 12/13/2023 90CAMP$00 1,600,000.00 California Asset Mgmt Program CAMP 13,600,000.00 TOTAL DISPOSITIONS 90CAM P$00 13,600,000.00 1.000 750,000.00 0.00 1.000 1,600,000.00 0.00 1,600,000.00 13,600,000.00 0.00 13,600,000.00 0.00 13,600,000.00 750,000.00 0.00 0.00 0.00 13,600,000.00 0.00 44 CA 49 IImportant Disclosures 2023 Chandler Asset Management, Inc, An Independent Registered Investment Adviser. As of December 31, 2023 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 and carries a AA+/Aaa/AAA by S&P, Moody's and Fitch respectively. Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account. 45 CM 50 Benchmark Disclosures As of December 31, 2023 ICE BofA 1-5 Yr US Treasury & Agency Index* The ICE BofA 1-5 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody's, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies. The ICE BofA 1-3 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody's, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than three 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. Attachment 2 Transaction Ledger City of Dublin - Account #10198 September 30, 2023 through December 31, 2023 As of December 31, 2023 Transaction Settlement Type Date CUSIP Quantity Security Description Acq/Disp Price Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 10/16/2023 02665WEM9 460,000.00 American Honda Finance Note 5.125% Due: 07/07/2028 Purchase 10/16/2023 02665WEM9 910,000.00 American Honda Finance Note 5.125% Due: 07/07/2028 Purchase 10/20/2023 91282CJA0 2,750,000.00 US Treasury Note 4.625% Due: 09/30/2028 Purchase 10/30/2023 06406RBG1 1,500,000.00 Bank of NY Mellon Corp Callable Note Cont 6/13/2027 3.992% Due: 06/13/2028 98.120 5.58% 451,352.00 6,483.13 457,835.13 0.00 98.015 5.61% 891,936.50 12,825.31 904,761.81 0.00 98.570 4.95% 2,710,683.59 6,950.14 2,717,633.73 0.00 93.062 6.26% 1,395,930.00 22,787.67 1,418,717.67 0.00 Purchase 10/31/2023 91282CJA0 1,000,000.00 US Treasury Note 99.141 4.82% 991,406.25 3,917.35 995,323.60 0.00 4.625% Due: 09/30/2028 Purchase 11/02/2023 3137FK4M5 1,100,000.00 FHLMC K085 A2 94.387 5.60% 1,038,253.91 124.06 1,038,377.97 0.00 4.06% Due: 10/25/2028 Purchase 11/14/2023 89239FAD4 980,000.00 Toyota Auto Receivables Owner 2023-D A3 99.989 5.61% 979,894.36 0.00 979,894.36 0.00 5.54% Due: 08/15/2028 Purchase 11/24/2023 4581X0DC9 1,680,000.00 Inter -American Dev Bank Note 93.708 4.60% 1,574,294.40 9,625.00 1,583,919.40 0.00 3.125% Due: 09/18/2028 Purchase 11/30/2023 91282CJN2 2,500,000.00 US Treasury Note 100.473 4.27% 2,511,816.41 0.00 2,511,816.41 0.00 4.375% Due: 11/30/2028 Purchase 12/19/2023 4581X0DC9 560,000.00 Inter -American Dev Bank Note 95.947 4.07% 537,303.20 4,423.61 541,726.81 0.00 3.125% Due: 09/18/2028 Purchase 12/20/2023 4581X0DC9 560,000.00 Inter -American Dev Bank Note 95.844 4.10% 536,726.40 4,472.22 541,198.62 0.00 3.125% Due: 09/18/2028 Purchase 12/26/2023 4581X0DC9 560,000.00 Inter -American Dev Bank Note 96.219 4.01% 538,826.40 4,763.89 543,590.29 0.00 3.125% Due: 09/18/2028 41 CM 52 Transaction Ledger City of Dublin - Account #10198 September 30, 2023 through December 31, 2023 As of December 31, 2023 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Total Amount Gain/Loss Pur/Sold Purchase Subtotal 12/29/2023 TOTAL ACQUISITIONS 91282CJN2 3,000,000.00 US Treasury Note 4.375% Due: 11/30/2028 17,560,000.00 17,560,000.00 102.438 3.83% 3,073,125.00 17,231,548.42 17,231,548.42 10,399.59 3,083,524.59 86, 771.97 17, 318, 320.39 86,771.97 17,318,320.39 0.00 0.00 0.00 DISPOSITIONS Sale Sale Sale Sale Sale Sale Sale Subtotal 10/16/2023 02665WCZ2 10/16/2023 02665WEA5 10/20/2023 912828ZL7 10/31/2023 912828ZC7 11/09/2023 91282CDZ1 11/24/2023 4581X0DZ8 12/22/2023 3130A1XJ2 1,500,000.00 1,075,000.00 1,250,000.00 2,000,000.00 500,000.00 3,680,000.00 2,100,000.00 12,105,000.00 TOTAL DISPOSITIONS 12,105,000.00 American Honda Finance Note 2.4% Due: 06/27/2024 American Honda Finance Note 1.5% Due: 01/13/2025 US Treasury Note 0.375% Due: 04/30/2025 US Treasury Note 1.125% Due: 02/28/2025 US Treasury Note 1.5% Due: 02/15/2025 Inter -American Dev Bank Note 0.5% Due: 09/23/2024 FHLB Note 2.875% Due: 06/14/2024 97.733 2.49% 94.978 1.53% 92.867 0.38% 94.719 0.52% 95.465 2.92% 96.077 0.52% 98.854 1.96% 1,465,995.00 10,900.00 1,476,895.00 -33,124.32 1,021,013.50 4,165.63 1,025,179.13 -53,633.94 1,160,839.84 2,203.63 1,163,043.47 -89,022.40 1,894,375.00 3,770.60 1,898,145.60 -121,541.94 477,324.22 1,752.72 479,076.94 -14,105.32 3,535,633.60 3,117.78 3,538,751.38 -143,611.06 2,075,934.00 1,341.67 2,077,275.67 -32,758.57 11,631,115.16 27,252.03 11,658,367.19 -487,797.55 11,631,115.16 27,252.03 11,658,367.19 -487,797.55 42 c 53 Transaction Ledger City of Dublin Reporting Account - Account #10219 September 30, 2023 through December 31, 2023 As of December 31, 2023 Transaction Type Settlement Date CUSIP Quantity Security Description c Price Aq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase Purchase Purchase Purchase Subtotal Security Contribution Security Contribution Security Contribution Subtotal 10/15/2023 10/31/2023 11/30/2023 12/29/2023 11/29/2023 12/21/2023 12/27/2023 TOTAL ACQUISITIONS 90LAIF$00 90CAMP$00 90CAMP$00 90CAMP$00 90CAMP$00 90CAMP$00 90CAMP$00 237,136.58 Local Agency Investment Fund State Pool 387,880.25 California Asset Mgmt Program CAMP 341,979.40 California Asset Mgmt Program CAMP 414,247.34 California Asset Mgmt Program CAMP 1,381,243.57 5,500,000.00 California Asset Mgmt Program CAMP 33,000,000.00 California Asset Mgmt Program CAMP 1,000,000.00 California Asset Mgmt Program CAMP 39,500,000.00 40,881,243.57 1.000 1.000 1.000 1.000 1.000 1.000 1.000 3.61% 5.56% 5.57% 5.57% 237,136.58 387,880.25 341,979.40 414, 247.34 1,381,243.57 5,500,000.00 33,000,000.00 1,000,000.00 39,500,000.00 40,881,243.57 0.00 0.00 0.00 0.00 0.00 0.00 237,136.58 387,880.25 341,979.40 414, 247.34 1,381,243.57 5,500,000.00 0.00 33,000,000.00 0.00 1,000,000.00 0.00 39,500,000.00 0.00 40,881,243.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 DISPOSITIONS Security Withdrawal Security Withdrawal Security Withdrawal Security Withdrawal Security Withdrawal 10/24/2023 10/31/2023 11/06/2023 11/14/2023 11/20/2023 90CAMP$00 90CAMP$00 90CAMP$00 90CAMP$00 90CAMP$00 1,500,000.00 Californ 1,300,000.00 Californ 6,100,000.00 Californ 350,000.00 Californ 2,000,000.00 Californ ia Asset Mgmt Program CAMP ia Asset Mgmt Program CAMP ia Asset Mgmt Program CAMP ia Asset Mgmt Program CAMP ia Asset Mgmt Program CAMP 1.000 1.000 1.000 1.000 1.000 1,500,000.00 1,300,000.00 6,100,000.00 350,000.00 2,000,000.00 0.00 1,500,000.00 0.00 0.00 1,300,000.00 0.00 0.00 6,100,000.00 0.00 0.00 350,000.00 0.00 0.00 2,000,000.00 0.00 43 CM 54 Transaction Ledger City of Dublin Reporting Account - Account #10219 September 30, 2023 through December 31, 2023 As of December 31, 2023 Transaction Settlement Type Date CUSIP Quantity Security Description Acq/Di Price Yield Amount Interest Pur/Sold Total Amount Gain/Loss Security Withdrawal Security Withdrawal Subtotal 12/05/2023 750,000.00 California Asset Mgmt Program CAMP 12/13/2023 90CAMP$00 1,600,000.00 California Asset Mgmt Program CAMP 13,600,000.00 TOTAL DISPOSITIONS 90CAMP$00 13,600,000.00 1.000 750,000.00 0.00 1.000 1,600,000.00 0.00 1,600,000.00 13,600,000.00 0.00 13,600,000.00 0.00 13,600,000.00 750,000.00 0.00 0.00 0.00 13,600,000.00 0.00 44 CA 55