HomeMy WebLinkAbout5.10 City Treasurer's Informational Report of Investments for the Quarter Ending June 30, 2024Agenda Item 5.10
r
DUBLIN
CALIFORNIA
STAFF REPORT
CITY COUNCIL
DATE: August 20, 2024
TO: Honorable Mayor and City Councilmembers
FROM: Linda Smith, City Manager
SU B.ECT : City Treasurer's Informational Report of Investments for the Quarter Ending
June 30, 2024
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 June 30, 2024 including a monthly transaction ledger. The City's investment portfolio for
this period totaled $435,147,967 (market value) with an average market yield of 4.98%. 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 City Treasurer's Informational Report of Investments for the Quarter Ending June 30,
2024.
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 $293,298,557 managed by Chandler
Asset Management (Chandler), and $141,849,410 invested by the City in local government pools,
the Local Agency Investment Fund (LAIF) and the California Asset Management Program (CAMP).
The average market yield of the Chandler portfolio and the local pools was 4.84% and 5.26%
respectively.
Page 1 of 4
1
The total investment portfolio balance fluctuates throughout the year due to normal cash flow
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 suggests positive but slower growth this year fueled by consumer spending.
While the consumer has been resilient, growing credit card debt, higher delinquencies, and a
moderating labor market pose potential headwinds to future economic growth. Inflationary
trends are subsiding, but core levels remain above the Fed's target. 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.
The market value of the City's portfolio increased by $12.8 million from the March 31, 2024
quarter. The quarterly change results from the normal fluctuations in the timing of incoming
revenue, predominantly the receipt of property tax (the City receives the second of two annual
payments in the fourth quarter), and expenditures on capital projects as well as payments to
Alameda County for Police and Fire Services. The City's portfolio increased by $34.04 million from
the same quarter the prior year (see Table 1 below). Overall market yield -to -maturity has
increased to 4.98%, (shown in Table 2) due to the factors discussed in the Economic Update
Highlights. For detailed monthly transactions, see Attachment 2.
Page 2 of 4
2
Table 1: Portfolio Values and Yield to Maturi
Holdings
June 30, 2023
Market
Value
March 31, 2024
Market
Value
June 30, 2024
Par
Value
Book
Value
Market
Value
% of
Subtotal
% of Total
Portfolio
Book
Yield
Market
Yield
Managed by City
Cash'
274,480
293,969
293,969
293,969
0.2%
0.1%
0.00%
0.00%
LAIF
26,092,229
26,800,793
27,087,153
27,087,153
27,087,153
19.1%
6.1%
4.56%
4.56%
CAMP
94,675,879
104,531,281
114,468,288
114,468,288
114,468,288
80.7%
25.9%
5.44%
5.44%
SUBTOTAL
120,768,108
131,606,553
141,849,410
141,849,410
141,849,410
100.00%
32.14%
5.26%
5.26%
Accrued Interest'
195,897
-
-
120,964,005
131,606,553
141,849,410
Managed by Chandler
ABS
28,186,820
27,628,978
31,294,642
31,291,134
31,133,561
10.7%
7.1%
4.54%
5.19%
Agency
53,795,750
39,102,074
30,620,000
30,696,639
29,682,071
10.2%
6.9%
1.94%
4.96%
Cash'
456,482
448,879
448,879
448,879
0.2%
0.1%
0.00%
0.00%
Agency CMBS4
6,570,900
8,630,360
8,808,354
8,730,912
8,540,328
2.9%
2.0%
3.16%
5.05%
Money Market
2,641,554
813,046
356,932
356,932
356,932
0.1%
0.1%
4.92%
4.92%
Supranational
16,711,738
26,247,930
27,525,000
27,179,635
26,304,657
9.0%
6.2%
2.45%
4.77%
Corporate
71,551,741
75,214,801
78,380,000
77,859,320
75,954,352
26.1%
17.8%
3.44%
5.23%
US Treasury
99,278,149
110,896,377
122,000,000
121,643,131
118,846,162
40.8%
27.6%
3.50%
4.49%
SUBTOTAL
278,736,651
288,990,049
299,433,807
298,206,582
291,266,941
100.00%
67.86%
3.33%
4.84%
Accrued Interest
1,408,723
1,713,120
2,031,616
280,145,373
290,703,168
293,298,557
TOTAL PORTFOLIO
401,109,378
422,309,722
441,283,217
440,055,992
435,147,967
100.00%
4.98%
Change from Prior Year
34,038,589
Change from Prior Quarter
12,838,245
'Includes cash on hand, receivables, payables and accrued interest from the Local Pools.
(effective March 2024)
2Accrued Interest from Local Pools shown in Cash. (effective March 2024)
3lncludes cash on hand, receivables and payables from accounts managed by Chandler. (effective
March 2024)
4CM0 is retitled to Agency CMBS. (effective March 2024)
Table 2: Quarterly Holdings (Market Value) by Type, and YTM, 5 Quarters
Holdings (Market Value)
LAI F/CAM P
ABS
Agency
Cash'
Agency CMBS2
Money Market
Supranational
Corporate
US Treasury
Accrued Interest3
TOTAL
YIELD TO MATURITY
6/30/23 9/30/23 12/31/23 3/31/24
120, 768,108
28,186, 820
53, 795, 750
6,570,900
2,641,554
16, 711, 738
71, 551, 741
99, 278,149
1,604,620
108,913,407
28, 613, 814
46, 770, 742
7,428,709
859,487
23,103,092
70,490,952
102, 206, 540
1,746,703
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
131, 332, 074
27, 628, 978
39,102, 074
730,962
8,630,360
813,046
26, 247, 930
75, 214, 801
110, 896, 377
1,713,120
401,109,378 390,133,446 426,449,339 422,309,722
4.92% 5.19% 4.71% 4.92%
6/30/24
141, 555, 441
31,133, 561
29, 682, 071
742,848
8,540,328
356,932
26, 304, 657
75, 954, 352
118, 846,162
2,031,616
435,147,967
4.98%
'Includes cash on hand, receivables, payables, from accounts managed by Chandler
Pools, and accrued interest from the Local Pools. (effective March 2024)
2CM0 is retitled to Agency CMBS. (effective March 2024)
and the Local
Page 3 of 4
3
3Accrued Interest for the Local Pools is included in Cash. (effective March 2024)
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 portfolio yields over the most recent
eight quarters.
Table 3: Quarterly Portfolio Yields, Recent 8 Quarters
Market Yield
LAIF
CAMP
Chandler
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%
3/31/24
4.27%
5.48%
4.79%
6/30/24
4.56%
5.44%
4.84%
STRATEGIC PLAN INITIATIVE:
None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
The City Council Agenda was posted.
ATTACHMENTS:
1) City of Dublin Investment Report for Period Ending June 30, 2024
2) Transaction Ledger - April through June 2024
Page 4 of 4
4
Attachment I
CAE CHANDLASSET MANAGEMENRT
INVESTMENT REPORT
City of Dublin I As of June 30, 2024
CHANDLER ASSET MANAGEMENT I chandlerasset.com
Chandler Team:
For questions about your account, please call (800) 317-4747,
or contact clientservice@chandlerasset.com
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.
5
TABLE OF CONTENTS
City of Dublin I As of June 30, 2024
ECONOMIC UPDATE
ACCOUNT PROFILE
CONSOLIDATED INFORMATION
PORTFOLIO HOLDINGS
TRANSACTIONS
CAN
CHANDLER
ASSET MANAGEMENT
1
6
CiitCHANDLER
ASSET MANAGEMENT
ECONOMIC UPDATE
2
7
Economic Update CM
CHANDLER
ASSET MANAGEMENT
• Recent economic data suggests positive but slower growth this year fueled by consumer spending. While the consumer has been resilient,
growing credit card debt, higher delinquencies, and a moderating labor market pose potential headwinds to future economic growth.
Inflationary trends are subsiding, but core levels remain above the Fed's target. 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 June meeting, the Federal Open Market Committee voted unanimously to leave the federal funds rate unchanged at a
target range of 5.25-5.50%, emphasizing the need to see sustained evidence of easing inflation before considering any rate cuts. The
FOMC's latest projections now suggest only one interest rate cut in 2024, with four more cuts expected in 2025 and a slightly higher long-
term neutral rate. Additionally, the Fed continues to reduce its holdings of U.S. Treasury securities and agency mortgage -backed securities
as per its predefined schedule of $25 billion and $35 billion per month.
• The US Treasury yield curve shifted lower in June as economic data moderated. The 2-year Treasury yield fell 12 basis points to 4.76%, the
5-year Treasury dropped 13 basis points to 4.38%, and the 10-year Treasury yield declined 10 basis points to 4.40%. The inversion between
the 2-year Treasury yield and 10-year Treasury yield remained relatively stable at -36 basis points at June month -end versus -37 basis
points at May month -end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was -106 basis points. The
inversion between 3-month and 10-year Treasuries widened to -96 basis points in June from -91 basis points in May.
3
8
cn
0
0
0
Employment CAI
1,000
800
600
c
ro
400
0
L
H
c 200
v
no
ro _c• 0
u
• -200
-400
Nonfarm Payroll (000's)
1
v�
25.0%
20.0%
15.0%
v
cc
10.0%
Non -farm Payroll (000's) 5.0%
3-month average (000's)
0.0%
19 19 0 �p �1 �1 `) ¶) :? ;s)) \-3Q
Unemployment Rate
CHANDLER
ASSET MANAGEMENT
Underemployment Rate (U6)
Unemployment Rate (U3)
1,9 19 -)0 -).0 �1 es,)1 �c) � '.3' �,,, �sr
Source: US Department of Labor Source: US Department of Labor
The U.S. economy added 206,000 jobs in June, remaining ahead of consensus expectations of 190,000 jobs. The gains were broad based,
with government, health care, and social assistance posting the largest gains. The three-month moving average and six-month moving
average payrolls have weakened from the first quarter to 177,000 and 222,000 respectively. The unemployment rate edged up to 4.1% in
June, and the labor participation rate inched up to 62.6%, remaining below the pre -pandemic level of 63.3%. The U-6 underemployment
rate, which includes those who are marginally attached to the labor force and employed part time for economic reasons held steady at
7.4%. Average hourly earnings rose 3.9% year -over -year in June, down from 4.1% year -over -year in May. The labor markets continue to
show signs of cooling in line with the Federal Reserve's view that there has been "substantial" progress towards better balance in the
labor market between demand and supply for workers.
4
9
YOY (%) Change
Inflation CAI
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
j9 '19 O '‘DO �1
Source: US Department of Labor
�Oc, �47.
s) �Q
YOY (%) Change
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
CHANDLER
ASSET MANAGEMENT
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Core Deflator YOY % Change
Fed Target
19 19 y�o O c1 c31 \� �c ��� ")� ���
Source: US Department of Commerce
In June, the Consumer Price Index (CPI) declined 0.1% month -over -month and rose 3.0% year -over -year, reflecting broad -based cost
reductions. The month -over -month drop was the first deflationary data point since the pandemic. The Core CPI, which excludes volatile
food and energy components, was up just 0.1% month -over -month and 3.3% year -over -year in June, down from 3.4% in May and lower
than expected. The Personal Consumption Expenditures (PCE) Index decelerated in May as expected. The headline PCE deflator was
unchanged in May from April versus up 0.3% in the prior month. Year -over -year, the PCE deflator rose 2.6%. The Core PCE deflator (the
Fed's preferred gauge) increased 0.1% in May from the prior month versus up 0.3% in April. The Core PCE deflator also rose 2.6% year -
over -year, still above the Fed's 2% inflation target. Much of the lingering inflation has been driven by shelter costs and demand for
services.
5
10
Federal Reserve CAI
10, 000,000
9,000,000
8,000,000
7,000,000
c 6,000,000
E 5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
0
Federal Reserve Balance Sheet Assets
• Recession
- — / - a — 7
1 s
/2.�'47���77�/i' �i�
Ot 06 0cP�O�� .7sr �6Z O �� �st
6.00%
5.00%
4.00%
7
v 3.00%
2.00%
1.00%
0.00%
Source: Federal Reserve Source: Bloomberg
CHANDLER
ASSET MANAGEMENT
Effective Federal Funds Rate
As expected at the June meeting, the Federal Open Market Committee voted unanimously to leave the federal funds rate unchanged at a
target range of 5.25-5.50%, emphasizing the need to see sustained evidence of easing inflation before considering any rate cuts. The
FOMC's latest projections now suggest only one interest rate cut in 2024, with four more cuts expected in 2025 and a slightly higher long-
term neutral rate. The Fed's inflation projections ticked up marginally, while unemployment and GDP growth forecasts remained steady.
Additionally, the Fed continues to reduce its holdings of U.S. Treasury securities and agency mortgage -backed securities as per its
predefined schedule of $25 billion and $35 billion per month. Since the Fed began its Quantitative Tightening campaign in June 2022,
securities holdings have declined by approximately $1.7T to approximately $7.3T.
6
11
YOY (%) Change
Consumer
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
-10.0%
-20.0%
-30.0%
Retail Sales YOY % Change
ll11111llllllllnl�.....�.�� .....
1g 1y �p •o z �1 \-Z) �) -Do) -),, 'Dq
160
140 —
12 0
100
a) 80
cu
60
40
20
0
CM
Consumer Confidence
O7 % Ocs, 'l0 1� v,
CHANDLER
ASSET MANAGEMENT
4.4 16 1cS) )O c)c �Q
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 were unchanged month -over -month in June after an upwardly revised 0.3% gain in May. On a year -over -year basis, Retail
Sales growth further slowed to 2.3% in June from 2.6% in May. Nonstore retailers were a bright spot in June, while motor vehicle and
gasoline sales declined. The Conference Board's Consumer Confidence Index fell to 100.4 in June from 101.3 in May. While the present
situation component rose marginally, consumers are less optimistic about future expectations for business conditions and potential
income increases. While the consumer has been resilient, consumption has begun to moderate in the face of higher interest rates, rising
credit card balances, and growing delinquencies.
7
12
YOY (%) Change
Leading Indicators of Economic Activity
15.0%
10.0%
5.0%
0.0%
-5.0%
- 10.0%
-15.0%
-20.0%
- 25.0%
Leading Economic Indicators (LEI)
3 Month Average
• Recession
✓4 ✓4 ✓4 ✓4 14 ✓4 10 ✓0 ✓4 14 ✓4
�Q (9� '9� 96 00 OS7 08 •4, l6 to c)St
Source: The Conference Board
1.00
0.75
0.50
0.25
0.00
- 0.25
-0.50
- 0.75
-1.00
CM
CHANDLER
ASSET MANAGEMENT
Chicago Fed National Activity Index (CFNAI)
✓� ✓� ✓� ✓4 ✓4 ✓4 ✓4 ✓. ✓� ✓. ✓.
4i, '2, '7, 2, 7, 1, 7, 7, 2, 2, )i,
�A 8� `9; 6 % Q 08 '4) 4 c-)O 257
Source: Federal Reserve Bank of Chicago
The Conference Board's Leading Economic Index (LEI) fell 0.2% in June following a 0.4% decline in May. The index dropped 4.8% year -over
year. The report stated that "due to the smaller month -on -month rate of decline, the LEI's long-term growth has become less negative,
pointing to a slow recovery." The Chicago Fed National Activity Index (CFNAI) decreased to 0.05 in June from 0.23 in May, surpassing
consensus expectations. The three-month moving average rose to -0.01 in June from -0.08 in May, indicating slightly below -trend growth
expectations for the economy.
8
13
In Thousands of Units
Housing CAI
2,400
2,200
2,000
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
CHANDLER
ASSET MANAGEMENT
Annualized Housing Starts S&P/Case-Shiller 20 City Composite Home Price Index
• Multi Family Housing Starts
■ Single Family Housing Starts
S! 6 8 O S! 6 cQ O � S!
Source: US Department of Commerce
24.0%
20.0%
16.0%
12.0%
8.0
c
s 4.0 %
• 0.0%
o -4.0%
} -8.0%
-12.0%
-16.0%
-20.0%
• Recession
9pr, i'br, -14 14. i Apr, 9pr, 414 14. i 1
OSt 06 O6, 10 c.) 1sr 16 l8 c-O �Q
Source: S&P
Housing starts jumped 3.0% month -over -month in June to a higher -than -expected 1.353 million units, driven primarily by the multi -family
category. Starts were down 4.4% year -over -year. The Freddie Mac average rate for a 30-year fixed mortgage edged down to 6.92% in
June from 7.06% in May. According to the Case-Shiller 20-City Home Price Index, housing prices rose a higher -than -expected 7.2% year -
over -year in April versus March's upwardly revised 7.5% increase. Tight inventories and higher mortgage rates continue to impact
affordability.
9
14
Survey Based Measures CAI
70
65
60
55
50
45
40
Institute of Supply Management (ISM) Surveys
ISM Manufacturing ISM Services
•
•
•
•
EXPANDING
CONTRACTING
• .
•
• . • • . ,
• , • , . • • •
CHANDLER
ASSET MANAGEMENT
•. • . • , •
II I
✓e/ s.0 oo 2i ✓<,�so,pO6cdr�4�✓,7sP, ��c2idr�,�sPbOPc2;�e,r7sPb66cdr7�6�c,�dr��.)' ��' �a' �Q
�QZ9g919 oc>0 c)Oc)O�1"Z�Z`DZc)��2��
Source: Institute for Supply Management
The Institute for Supply Management (ISM) Manufacturing index edged down to 48.5 in June from 48.7 in May. While new orders picked
up, prices paid for materials fell the most in over a year. The ISM Services Index returned to contraction declining to 48.8 in June, from
53.8 in the previous month. Although the level of the decline was a surprise, the trend in the Services PMI, which applies to a larger share
of US economic output, has been steadily decreasing.
10
15
Gross Domestic Product (GDP) CAI
Components of GDP - 3 9/23 12/23
3/24
Personal Consumption Expenditures
0.6% 2.1% 2.2% 1.0%
Gross Private Domestic Investment 0.9% 1.7% 0.2% 0.8%
Net Exports and Imports 0.0% 0.0% 0.3% -0.7%
Federal Government Expenditures 0.1% 0.5% 0.2% 0.0%
State and Local (Consumption and Gross
Investment)
0.5% 0.5% 0.6% 0.3%
Total 2.1% 4.9% 3.4% 1.4%
Source: US Department of Commerce
40.0%
30.0%
20.0%
10.0%
0.0%
- 10.0%
- 20.0%
- 30.0%
- 40.0%
CHANDLER
ASSET MANAGEMENT
Gross Domestic Product (GDP)
GDP Q0Q % Change
GDP YOY % Change
l9 j9 c'O '30 c',7 `),l c)c) `)� c)r' `)0' �Q
Source: US Department of Commerce
The third and final estimate of first quarter GDP came in as expected with growth up 1.4%, a small upward revision from 1.3% in the
second estimate. Notably, the personal consumption expenditures component was revised down substantially to +1.5% in the final
estimate from +2.0% in the second estimate. Weaker growth in consumer spending was offset by upward revisions in other major
categories, particularly gross fixed investment. The consensus projection calls for 2.0% growth in the second quarter and 2.3% growth for
the full year 2024.
11
16
Bond Yields
6.0
5.0
4.0%
3.0%
2.0%
1.0
0.0
CM
US Treasury Note Yields US Treasury Yield Curve
6.0%
5.0
4.0
0 0
-a 3.0%
a
>-
2.0
•
2-Year
5-Year
10-Year
19 19 s)0 )0 `),l c1 `c.) ‘) `0) cJ, `)Q
Source: Bloomberg
1.0
0.0
CHANDLER
ASSET MANAGEMENT
Jun-24
Mar-24
Jun-23
Sot 4lo j ' Sys yr 10 yr 3'0 yr
Source: Bloomberg
At the end of June, the 2-year Treasury yield was 15 basis points lower, and the 10-Year Treasury yield was 56 basis points higher, year -
over -year. The inversion between the 2-year Treasury yield and 10-year Treasury yield remained relatively stable at -36 basis points at
June month -end versus -37 basis points at May month -end. The inversion has occurred since July 2022 and remains historically long. The
average historical spread (since 2003) is about +130 basis points. The inversion between 3-month and 10-year Treasuries widened to -96
basis points in June from -91 basis points in May.
12
17
CiitCHANDLER
ASSET MANAGEMENT
ACCOUNT PROFILE
13
18
OBJECTIVES
City of Dublin I As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
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.
14
19
STATEMENT OF COMPLIANCE CA`
City of Dublin I As of June 30, 2024
Rules Name
Limit Actual
AGENCY MORTGAGE SECURITIES (CMOS)
Max % (MV)
Max % Issuer (MV)
Max Maturity (Years)
ASSET -BACKED SECURITIES (ABS)
Max % (MV; Non Agency ABS & MBS)
20.0
2.9
CHANDLER
ASSET MANAGEMENT
Compliance Notes
Status
Compliant
20.0 2.9
Compliant
5.0 4.3 Compliant
20.0 10.6 Compliant
Max % Issuer (MV)
5.0 1.1 Compliant
Max Maturity (Years)
5
4
Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
BANKERS' ACCEPTANCES
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days)
180 0.0 Compliant
Min Rating (A-1 by 1) 0.0 0.0 Compliant
COMMERCIAL PAPER
Max % (MV) 25.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days)
270 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant
CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 26.2 Compliant
Max % Issuer (MV) 5.0 1.5 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant
FEDERAL AGENCIES
Max % (MV) 100.0 10.2 Compliant
Max % Issuer (MV)
35.0 3.5 Compliant
Max Callables (MV)
25.0 0.0 Compliant
Max Maturity (Years) 5 3 Compliant
15
20
STATEMENT OF COMPLIANCE
City of Dublin 1 As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Rules Name
Limit Actual Compliance Notes
Status
LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV)
MONEY MARKET MUTUAL FUNDS
0.0
Compliant
Max % (MV; Money Market Fund & Mutual Fund) 20.0 0.1 Compliant
Max % Issuer (MV)
20.0 0.1 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant
MORTGAGE -BACKED SECURITIES (NON -AGENCY)
Max % (MV)
Max % Issuer (MV)
Max Maturity (Years)
20.0
0.0
Compliant
5.0 0.0 Compliant
5.0 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
MUNICIPAL SECURITIES (ALL STATES)
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant
MUTUAL FUNDS
Max % (MV; Money Market Fund & Mutual Fund) 20.0 0.1 Compliant
Max % Issuer (MV)
Min Rating (AAA by 2)
10.0 0.0 Compliant
0.0 0.0 Compliant
NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0.0 Compliant
SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 9.0 Compliant
Max % Issuer (MV)
10.0 4.3 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1)
0.0 0.0 Compliant
16
21
STATEMENT OF COMPLIANCE
City of Dublin I As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Rules Name
Limit Actual Compliance Notes
Status
TIME DEPOSITS
Max % (MV)
10.0
0.0
Compliant
Max % Issuer (MV)
Max Maturity (Years)
U.S. TREASURIES
Max % (MV)
5.0 0.0
Compliant
1.0 0.0 Compliant
100.0 40.8 Compliant
Max Maturity (Years)
5 4 Compliant
17
22
PORTFOLIO CHARACTERISTICS
City of Dublin I As of June 30, 2024
Benchmark*
6/30/2024 3/31/2024
Portfolio Portfolio
Average Maturity (yrs)
2.68
3.03
2.90
Average Modified Duration
2.51
2.57
2.50
Average Purchase Yield
3.32%
3.12%
Average Market Yield
Average Quality**
4.66% 4.84% 4.79%
AA+
AA AA
Total Market Value
293,298,557 290,703,168
*Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index
**The credit quality is a weighted average calculation of the highest of S&P, Moody's and Fitch.
CM
CHANDLER
ASSET MANAGEMENT
18
23
SECTOR DISTRIBUTION
City of Dublin I As of June 30, 2024
50%
25%
0%
- o
US Treasury
1
1
1 .
Corporate ABS
Agency
• •
Supras
06/30/2024 03/31/2024
Agency CMBS
CM
CHANDLER
ASSET MANAGEMENT
Cash Money Mkt Fd
Sector as a Percentage of Market Value
Sector 06/30/2024 03/31/2024
US Treasury
40.8%
38.4%
Corporate
26.1%
26.0%
ABS
10.7%
9.6%
Agency
10.2%
13.5%
Supras
9.0%
9.1%
Agency CMBS
2.9%
3.0%
Cash
0.2%
0.2%
Money Mkt Fd
0.1%
0.3%
19
24
ISSUERS
City of Dublin I As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Issuer
Investment Type % Portfolio
United States
US Treasury
FHLMC
Multiple
International Bank for Recon and Dev
Supras
40.80%
5.77%
4.34%
Inter -American Development Bank
Supras
4.14%
FNMA
Agency
3.55%
Federal Home Loan Banks
Agency
2.91%
Chase Issuance Trust
ABS
1.71%
John Deere Owner Trust
ABS
1.65%
UnitedHealth Group Incorporated
Corporate 1.49%
Bank of Montreal
Corporate 1.47%
Bank of America Corporation
Corporate 1.41%
Deere & Company
Corporate 1.36%
The Toronto -Dominion Bank
Corporate 1.35%
Toyota Motor Corporation
Corporate 1.30%
U.S. Bancorp
Corporate 1.30%
Royal Bank of Canada
Corporate 1.19%
Merck & Co., Inc.
Corporate 1.18%
JPMorgan Chase & Co.
Corporate 1.15%
QUALCOMM Incorporated
Corporate 1.01%
MERCEDES-BENZ AUTO RECEIVABLES TRUST
ABS 0.96%
Amazon.com, Inc.
Corporate 0.92%
Tennessee Valley Authority
Agency 0.89%
Caterpillar Inc.
Corporate 0.85%
Northwestern Mutual Global Funding
Corporate 0.85%
Chubb Limited
Corporate 0.84%
Hyundai Auto Receivables Trust
ABS 0.83%
Honeywell International Inc. Corporate 0.83%
BMW Vehicle Owner Trust ABS 0.82%
20
25
ISSUERS
City of Dublin I As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Issuer
Investment Type % Portfolio
Honda Motor Co., Ltd.
Corporate
0.80%
Morgan Stanley
Corporate
0.77%
Realty Income Corporation
Corporate
0.75%
American Express Credit Master Trust
ABS
0.74%
GM Financial Securitized Term
ABS
0.74%
Berkshire Hathaway Inc.
Corporate
0.74%
Honda Auto Receivables Owner Trust
ABS
0.72%
GM Financial Automobile Leasing Trus
ABS
0.70%
Walmart Inc.
Corporate 0.69%
The Charles Schwab Corporation
Corporate 0.62%
Metropolitan Life Global Funding I
Corporate 0.59%
International Finance Corporation
Supras 0.55%
Cisco Systems, Inc.
Corporate 0.54%
Bank of America Credit Card Trust
ABS 0.51 %
BNY Mellon Corp
Corporate 0.50%
Target Corporation
Corporate 0.43%
Met Tower Global Funding
Corporate 0.40%
Toyota Lease Owner Trust
ABS 0.34%
Toyota Auto Receivables Owner Trust
ABS 0.34%
Dominion Energy, Inc.
Corporate 0.33%
Hyundai Auto Lease Securitization Tr
ABS 0.27%
Mercedes-Benz Auto Lease Trust
ABS 0.26%
Guardian Life Global Funding
Corporate 0.25%
Salesforce, Inc.
Corporate 0.16%
Cash
Cash 0.15%
First American Govt Oblig fund Money Mkt Fd 0.12%
BMW Vehicle Lease Trust ABS 0.09%
TOTAL
100.00%
21
26
QUALITY DISTRIBUTION
City of Dublin 1 As of June 30, 2024
S&P Rating
CM
Moody's Rating
80% 75%
60%
40%
20%
0%
AAA
II
AA A BBB NR
06/30/2024 03/31/2024
Rating
06/30/2024 03/31/2024
AM
18.5%
17.9%
AA
58.2%
59.3%
A
20.9%
50%
25%
0%
A
AA AA
06/30/2024 03/31/2024
NR
Rating
06/30/2024 03/31/2024
AM
69.1%
69.3%
AA
2.7%
2.7%
20.7% A
BBB
0.3%
22.6%
CHANDLER
ASSET MANAGEMENT
Fitch Rating
75%
50%
25%
0%
11
II 1'!!
AA NR
06/30/2024 03/31/2024
Rating
06/30/2024 03/31/2024
AM
11.4%
11.2%
AA
61.0%
62.1%
22.5% A
0.3% NR
NR
2.2% 1.8%
5.5%
11.7%
11.6%
5.5% NR
15.9%
15.2%
22
27
DURATION DISTRIBUTION
City of Dublin 1 As of June 30, 2024
Portfolio Compared to the Benchmark
40%
30%
20%
10%
0%
0-.25 .25-.5
5-1 1-2 2-3
CM
CHANDLER
ASSET MANAGEMENT
3-4 4-5 5-7 7+
y of Dublin ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index
0-.25
.25-.5 .5-1
1-2 2-3
3-4 4-5
5-7 7+
Portfolio
0.4%
12.5%
18.7%
25.5%
29.7%
12.1%
0.0%
0.0%
ICE BofA 1-5 Year Unsubordinated US
Treasury & Agency Index
0.0%
0.1%
2.4%
35.0%
26.8%
22.9%
12.8%
0.0%
0.0%
23
28
INVESTMENT PERFORMANCE CA`
City of Dublin I As of June 30, 2024
CHANDLER
ASSET MANAGEMENT
Total Rate of Return : Inception 111/01/2013
5.00%
4.00%
3.00 %
2.00%
1.00%
0.00%
-1.00%
12 months
2 years
• City of Dublin
3 years
5 years
10 years
• ICE BofA 1-5 Yr US Treasury & Agency Index*
Since Inception
3 Months 12 Months
2 Years 3 Years
5 Years 10 Years Since Inception
TOTAL RATE OF RETURN
City of Dublin Gross of Fees
Benchmark
0.89%
0.82%
4.69%
4.18%
2.50%
0.11%
1.85% (0.34%)
1.13%
0.76%
1.39%
1.13%
1.35%
1.09%
*Periods over 1 year are annualized.
Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index
Total rate of return: A measure of a portfolios performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending market value; it includes interest earnings, realized
and unrealized gains and losses in the portfolio. Realized rate of return: A measure of a portfolio's return over time. It is the internal rate which equates the beginning book value of the portfolio with the ending book value;
it includes interest earnings, realized gains and losses in the portfolio. 24
29
PORTFOLIO CHARACTERISTICS
City of Dublin Reporting Account I As of June 30, 2024
6/30/2024 3/31/2024
Portfolio Portfolio
Average Maturity (yrs)
Average Modified Duration
Average Purchase Yield
Average Market Yield
0.00
0.00
0.00
0.00
5.26%
5.22%
5.26% 5.22%
Average Quality**
AAA AAA
Total Market Value
141,849,410 131,606,553
*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody's and Fitch.
CM
CHANDLER
ASSET MANAGEMENT
25
30
SECTOR DISTRIBUTION
City of Dublin Reporting Account I As of June 30, 2024
100%
50%
0%
LGIP
LAIF
06/30/2024 03/31/2024
CM
CHANDLER
ASSET MANAGEMENT
Cash
Sector as a Percentage of Market Value
Sector 06/30/2024 03/31/2024
LGIP
LAIF
Cash
80.7%
79.4%
19.1%
20.4%
0.2%
0.2%
26
31
ISSUERS
City of Dublin Reporting Account I As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Issuer
Investment Type % Portfolio
California Asset Mgmt Program
LGIP
80.70%
LAIF
LAIF
19.10%
Cash
Cash
0.21%
TOTAL
100.00%
27
32
CiitCHANDLER
ASSET MANAGEMENT
CONSOLIDATED INFORMATION
28
33
PORTFOLIO CHARACTERISTICS
City of Dublin Cons I As ofJune 30, 2024
6/30/2024 3/31/2024
Portfolio Portfolio
Average Maturity (yrs)
Average Modified Duration
Average Purchase Yield
Average Market Yield
2.03
1.99
Average Quality**
1.73
3.96%
4.98%
AA+
1.74
3.77%
4.93%
AA+
Total Market Value
435,147,967 422,309,722
*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody's and Fitch.
CM
CHANDLER
ASSET MANAGEMENT
29
34
SECTOR DISTRIBUTION
City of Dublin Cons I As of June 30, 2024
40%
20%
0%
US Treasury
1
1
LGIP Corporate
1 1 s I M M • M
CM
CHANDLER
ASSET MANAGEMENT
ABS Agency LAIF Supras Agency CMBS Cash Money Mkt Fd
06/30/2024 MI 03/31/2024
Sector as a Percentage of Market Value
Sector 06/30/2024 03/31/2024
US Treasury
27.4%
26.4%
LGIP
26.4%
24.9%
Corporate
17.5%
17.9%
ABS
7.2%
6.6%
Agency
6.9%
9.3%
LAIF
6.3%
6.4%
Supras
6.1%
6.2%
Agency CMBS
2.0%
2.1%
Cash
0.2 %
0.2%
Money Mkt Fd
0.1%
0.2 %
30
35
CiitCHANDLER
ASSET MANAGEMENT
PORTFOLIO HOLDINGS
31
36
HOLDINGS REPORT
City of Dublin I As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Cusip Security Description
Purchase
Par Value/ Date
Units Purchase
Yield
Cost Value Mkt Price
Book Value Mkt YTM
Market Value % of Port.
Accrued Int. Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
44933LAC7
HART 2021-A A3 0.38 09/15/2025
23,324.53 04/20/2021
0.39%
23,322.08 99.76
23,324.06 4.84%
23,268.74
0.01% NA/AAA 1.21
3.94 (55.31) AAA 0.06
47788UAC6 JDOT 2021 A3 0.36 09/15/2025
71,719.50 03/02/2021 71,705.72
99.37 71,268.35
0.02% Aaa/NA 1.21
0.37% 71,716.50 4.93% 11.48 (448.15) AAA 0.14
05593AAC3 BMWLT 2023-1 A3 5.16 11/25/2025 259,836.30 02/07/2023 259,830.12
5.43% 259,833.18
99.81 259,351.63 0.09% Aaa/AAA 1.41
5.69% 223.46 (481.55) NA 0.42
44934KAC8 HART 2021-B A3 0.38 01/15/2026 370,088.86 07/20/2021 370,007.18
0.60% 370,066.83
99.09 366,717.21 0.13% NA/AAA 1.54
3.83% 62.50 (3,349.62) AAA 0.27
43815GAC3
HAROT 2021-4 A3 0.88 01/21/2026 305,675.16 11/16/2021
0.89%
305,610.73
305,653.75
97.97 299,455.62 0.10% Aaa/NA 1.56
4.64% 74.72 (6,198.13) AAA 0.55
477890AC4
JDOT 2021-B A3 0.52 03/16/2026 283,762.88 07/13/2021
0.52%
283,737.57
283,754.85
98.07 278,298.37 0.10% Aaa/NA 1.71
4.81% 65.58 (5,456.48) AAA 0.45
44935FAD6
HART 2021-C A3 0.74 05/15/2026 206,015.62 11/09/2021
0.75%
205,969.64
205,999.43
98.36 202,637.23 0.07% NA/AAA 1.87
4.11% 67.76 (3,362.20) AAA 0.49
43815BAC4
HAROT 2022-1 A3 1.88 05/15/2026 814,238.71 02/15/2022
1.89%
814,116.25
814,189.28
98.11 798,826.32 0.27% Aaa/AAA 1.87
4.63% 680.34 (15,362.97) NA 0.70
05602RAD3
BMWOT 2022-A A3 3.2108/25/2026 528,884.81 05/10/2022
3.23%
528,857.31
528,872.01
98.66 521,813.10 0.18% Aaa/AAA 2.15
4.97% 282.95 (7,058.92) NA 0.78
47787JAC2
J DOT 2022 A3 0.36 09/15/2026 558,047.02 03/10/2022
2.34%
557,923.57
557,990.70
98.03 547,069.51 0.19% Aaa/NA 2.21
5.46% 575.41 (10,921.20) AAA 0.64
362554AC1
GMCAR 2021-4 A3 0.68 09/16/2026 261,651.22 10/13/2021
0.68%
261,644.55
261,648.68
97.67 255,561.18 0.09% Aaa/AAA 2.21
4.17% 74.13 (6,087.50) NA 0.69
448977AD0
HART 2022-A A3 2.22 10/15/2026 678,826.55 03/09/2022
2.23%
678,800.41
678,814.77
98.19 666,522.61 0.23% NA/AAA 2.29
4.60% 669.78 (12,292.16) AAA 0.78
380146AC4
362585AC5
GMCAR 2022-1 A3 1.26 11/16/2026 267,907.55 01/11/2022
1.27%
267,884.27
267,897.50
97.78 261,972.54 0.09% NA/AAA 2.38
4.27% 140.65 (5,924.96) AAA 0.76
GMCAR 2022-2 A3 3.102/16/2027 584,899.26 04/05/2022
3.13%
584,777.01
584,838.42
98.42 575,658.43 0.20% Aaa/AAA 2.63
4.81% 755.49 (9,179.99) NA 0.97
47800AAC4
JDOT 2022-B A3 3.74 02/16/2027 919,763.59 07/12/2022
3.77%
919,675.75
919,715.04
98.59 906,794.93 0.31% Aaa/NA 2.63
5.33% 1,528.85 (12,920.11) AAA 0.88
32
37
HOLDINGS REPORT
City of Dublin 1 As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Cusip Security Description
Purchase
Par Value/ Date
Units Purchase
Yield
Cost Value Mkt Price
Book Value Mkt YTM
Moody's/
Market Value % of Port. S&P/ Maturity
Accrued Int. Gain/Loss Fitch Duration
448988AD7
HALST 24A A3 5.02 03/15/2027
785,000.00 01/17/2024
5.03%
784,851.24
784,871.88
99.58
5.37%
781,682.35
1,751.42
0.27% NA/AAA
(3,189.52) AAA
2.71
1.63
36269FAD8
GMALT 2024-1 A3 5.09 03/22/2027
995,000.00 02/08/2024
5.09%
994,875.63
994,890.70
99.52
5.46%
990,221.02
1,547.50
0.34% NA/AAA
(4,669.68) AAA
2.73
1.65
89238GAD3
TLOT 2024-A A3 5.25 04/20/2027 1,000,000.00 02/21/2024
5.25%
999,957.80
999,962.39
99.99
5.36%
999,860.60
1,604.17
0.34% NA/AAA
(101.79) AAA
2.80
1.72
02582JJT8
AMXCA 2022-2 A 05/17/2027 2,205,000.00 05/17/2022
3.42%
2,204,512.25
2,204,797.58
98.21
5.54%
2,165,530.50
3,322.20
0.74% NA/AAA
(39,267.08) AAA
0.87
0.92
47800BAC2
JDOT 2022-C A3 5.09 06/15/2027 1,350,000.00 10/12/2022
5.15%
1,349,895.24
1,349,934.71
99.64
5.50%
1,345,179.29
3,054.00
0.46% Aaa/NA
(4,755.42) AAA
2.96
1.05
36269WAD1 GMALT 2024-2 A3 5.39 07/20/2027 1,055,000.00 05/07/2024 1,054,938.71 100.29 1,058,056.44
5.85% 1,054,941.14 5.30% 1,737.53
0.36% NA/AAA
3,115.30 AAA
3.05
1.71
58768PAC8
MBART 2022-1 A3 5.2108/16/2027 2,790,000.00 11/15/2022
5.28%
2,789,448.14
2,789,641.24
99.81
5.43%
2,784,636.50
6,460.40
0.96% Aaa/AAA
(5,004.73) NA
3.13
1.28
58770JAD6
MBALT 2024-A A3 5.32 01/18/2028 765,000.00 05/17/2024
5.73%
764,910.50
764,913.11
100.29
5.25%
767,190.50
1,808.80
0.26% Aaa/NA
2,277.39 AAA
3.55
2.00
362583AD8
05592XAD2
GMCAR 2023-2 A3 4.47 02/16/2028 625,000.00 04/04/2023
4.51%
624,982.81
624,987.14
98.90
5.10%
618,103.06
1,164.06
0.21% Aaa/AAA
(6,884.08) NA
3.63
1.96
BMWOT 2023-A A3 5.47 02/25/2028 550,000.00 07/11/2023
5.47%
549,902.54
549,922.75
100.31
5.39%
551,723.37
501.42
0.19% NA/AAA
1,800.62 AAA
3.66
1.96
89239FAD4
TAOT 2023-D A3 5.54 08/15/2028 980,000.00 11/07/2023
6.30%
979,894.36
979,908.36
100.71
5.32%
987,000.04
2,412.98
0.34% NA/AAA
7,091.69 AAA
4.13
2.51
161571HT4
CHAIT 2023-1 A 5.16 09/15/2028 3,090,000.00 09/07/2023
5.17%
3,089,143.45
3,089,279.41
100.26
5.11%
3,097,888.15
7,086.40
1.06% NR/AAA
8,608.74 AAA
4.21
2.03
47800RAD5
JDOT 2024 A3 4.9611/15/2028 550,000.00 03/11/2024 549,969.20
5.12% 549,971.08
99.61
5.22%
547,835.59
1,212.44
0.19% Aaa/NA
(2,135.50) AAA
4.38
2.07
437930AC4
HONDO-242-A3 5.27 11/20/2028 1,000,000.00 05/14/2024
5.27%
999,878.50
999,881.53
100.27
5.21%
1,002,699.10
1,903.06
36268GAD7
GMCAR 2024-1 A3 4.85 12/18/2028 445,000.00 01/09/2024
4.91%
444,910.51
444,918.78
99.39
5.13%
161571HV9
CHAIT 241 A 4.6 01/16/2029 1,910,000.00 01/24/2024
4.61%
1,909,709.11
1,909,733.51
99.08
5.17%
0.34% NA/AAA
2,817.57 AAA
4.39
2.06
442, 298.41
899.27
0.15% Aaa/NA
(2,620.37) AAA
4.47
2.77
1,892,436.79
3,904.89
0.65% NR/AAA
(17,296.73) AAA
4.55
2.41
33
38
HOLDINGS REPORT
City of Dublin 1 As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Cusip Security Description
Purchase
Par Value/ Date
Units Purchase
Yield
Cost Value Mkt Price
Book Value Mkt YTM
Market Value % of Port.
Accrued Int. Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
448973AD9
HART 2024-A A3 4.99 02/15/2029
1,170,000.00 03/11/2024
5.05%
096919AD7
1,169,742.02
1,169,756.84
99.63
5.24%
1,165,697.79
2,594.80
0.40% NA/AAA
(4,059.05) AAA
4.63
2.05
BMWOT 2024-A A3 5.18 02/26/2029 1,305,000.00 06/04/2024
5.18%
1,304,801.77
1,304,804.07
100.10
5.21%
1,306,289.21
3,755.50
0.45% Aaa/AAA 4.66
1,485.14 NA 2.10
47786WAD2 JDOT 2024-B A3 5.2 03/15/2029 1,110,000.00 06/11/2024 1,109,783.00 100.31 1,113,429.35 0.38% Aaa/NA 4.71
5.81% 1,109,784.63 5.14% 2,084.33 3,644.72 AAA 2.32
05522RDJ4
BACCT 2024-1 A 4.93 03/15/2029 1,480,000.00 06/06/2024
4.93%
Total ABS
31,294,641.58
1,479,916.97
1,479,917.83
100.04 1,480,586.97 0.51% Aaa/AAA 4.71
4.99% 3,648.20 669.14 NA 2.61
31,289,885.92
4.54% 31,291,133.68
99.49 31,133,560.79 10.69% Aaa/AAA 3.32
5.19% 57,670.41 (157,572.89) AAA 1.63
AGENCY
3137EAEPO
FEDERAL HOME LOAN MORTGAGE 4,200,000.00 --
CORP 1.5 02/12/2025 1.23%
3135G03U5
4,254,786.30
4,206,862.12
97.70 4,103,363.80 1.41% Aaa/AA+ 0.62
5.34% 24,325.00 (103,498.32) AA+ 0.60
FEDERAL NATIONAL MORTGAGE 1,825,000.00 04/22/2020 1,821,240.50
ASSOCIATION 0.625 04/22/2025 0.67% 1,824,391.97
96.43 1,759,771.23 0.60% Aaa/AA+ 0.81
5.18% 2,186.20 (64,620.73) AA+ 0.79
3135G04Z3
FEDERAL NATIONAL MORTGAGE 3,435,000.00 06/17/2020 3,427,889.55
ASSOCIATION 0.5 06/17/2025 0.54% 3,433,631.71
95.66 3,286,058.40 1.13% Aaa/AA+ 0.96
5.17% 667.92 (147,573.31) AA+ 0.94
3137EAEU9
FEDERAL HOME LOAN MORTGAGE 1,745,000.00 07/21/2020 1,736,309.90
CORP 0.375 07/21/2025 0.48% 1,743,165.74
95.27 1,662,543.11 0.57% Aaa/AA+ 1.06
5.01% 2,908.33 (80,622.63) AA+ 1.03
3135G05X7
FEDERAL NATIONAL MORTGAGE 2,755,000.00 08/25/2020 2,742,106.60
ASSOCIATION 0.375 08/25/2025 0.47% 2,752,031.13
3137EAEX3
94.81 2,612,024.26 0.90% Aaa/AA+ 1.15
5.07% 3,615.94 (140,006.86) AA+ 1.12
FEDERAL HOME LOAN MORTGAGE 2,655,000.00 09/23/2020 2,647,008.45
CORP 0.375 09/23/2025 0.44% 2,653,032.78
94.51 2,509,290.97 0.86% Aaa/AA+ 1.23
5.03% 2,710.31 (143,741.81) AA+ 1.20
3135G06G3
3130ATUC9
FEDERAL NATIONAL MORTGAGE 2,860,000.00 11/09/2020 2,849,761.20
ASSOCIATION 0.5 11/07/2025 0.57% 2,857,222.42
94.22 2,694,821.56 0.93% Aaa/AA+ 1.36
4.97% 2,145.00 (162,400.87) AA+ 1.32
FEDERAL HOME LOAN BANKS 4.5 4,000,000.00 02/09/2023 4,029,238.40 99.42 3,976,806.00 1.37% Aaa/AA+ 1.45
12/12/2025 4.22% 4,014,929.65 4.92% 9,500.00 (38,123.65) AA+ 1.38
3130ATS57
FEDERAL HOME LOAN BANKS4.5 3,000,000.00 03/21/2023 3,065,010.00 99.88 2,996,319.09 1.03% Aaa/AA+ 3.70
03/10/2028 4.01% 3,048,282.91 4.53% 41,625.00 (51,963.82) AA+ 3.32
880591EZ1
TENNESSEE VALLEY AUTHORITY 2,645,000.00 -- 2,661,791.35
3.875 03/15/2028 3.73% 2,657,737.50
97.82 2,587,340.96 0.89% Aaa/AA+ 3.71
4.52% 30,178.72 (70,396.54) AA+ 3.37
34
39
HOLDINGS REPORT
City of Dublin I As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Cusip Security Description
Purchase
Par Value/ Date Cost Value Mkt Price
Units Purchase Book Value Mkt YTM
Yield
Market Value % of Port.
Accrued Int. Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3130AW M N 7
Total Agency
FEDERAL HOME LOAN BANKS 4.375
06/09/2028
1,500,000.00 07/26/2023
4.27%
1,506,615.00
1,505,350.75
99.58
4.49%
1,493,731.65
4,010.42
0.51% Aaa/AA+
(11,619.10) AA+
3.94
3.57
30,741,757.25 96.98 29,682,071.03
30,620,000.00 1.94% 30,696,638.66
10.19% Aaa/AA+ 1.72
4.96% 123,872.83 (1,014,567.63) AA+ 1.60
AGENCY CMBS
3137BFE98 FHMS K-041 A2 3.171 10/25/2024 1,893,353.88 07/01/2021
0.66%
3137BSRE5
FHMS K-059 A2 3.12 09/25/2026
2,036,686.69
1,904,510.07
99.20 1,878,258.55 0.64% Aaa/AA+ 0.32
5.64% 5,003.19 (26,251.52) AAA 0.24
2,000,000.00 02/18/2022
2.08%
3137F4D41
2,085,625.00
2,041,100.00
96.11 1,922,262.60 0.66% Aaa/AAA 2.24
4.99% 5,200.00 (118,837.40) AAA 2.02
FHMS K-074 A2 3.6 01/25/2028 1,000,000.00 07/25/2023
4.73%
954,414.06
963,965.13
95.85 958,528.40 0.33% Aaa/AA+ 3.57
4.87% 3,000.00 (5,436.73) AAA 3.20
3137FG6X8
FHMS K-077 A2 3.85 05/25/2028 2,815,000.00 05/24/2023
4.24%
2,763,318.36
2,774,758.46
96.44 2,714,793.88 0.93% Aaa/AA+ 3.90
4.85% 9,031.46 (59,964.57) AAA 3.46
3137FK4M5
Total Agency CMBS
FHMS K-085 A2 4.06 10/25/2028 1,100,000.00 10/30/2023
5.37%
1,038,253.91
1,046,578.45
96.95 1,066,484.32 0.37% Aaa/AA+ 4.32
4.83% 3,721.67 19,905.87 AA+ 3.83
8,808,353.88 3.16%
8,878,298.02
8,730,912.11
96.97 8,540,327.75 2.93% Aaa/AA+ 2.76
5.05% 25,956.31 (190,584.36) AAA 2.44
CASH
CCYUSD Receivable
448,878.89
0.00%
448,878.89
448,878.89
1.00 448,878.89 0.15% Aaa/AAA 0.00
0.00% 0.00 0.00 AAA 0.00
Total Cash
448,878.89
448,878.89 0.00% 448,878.89
1.00 448,878.89 0.15% Aaa/AAA 0.00
0.00% 0.00 0.00 AAA 0.00
CORPORATE
79466LAG9
SALESFORCE INC 0.625 07/15/2024 465,000.00 06/29/2021
0.64%
464,762.85
464,996.98
99.81 464,10 6.61 0.16% A1/A+ 0.04
5.23% 1,340.10 (890.37) NA 0.04
90331HPL1
US BANK NA 2.05 01/21/2025 2,610,000.00 01/16/2020
2.09%
2,604,440.70
2,609,379.26
98.01 2,557,979.49 0.88% A2/A+ 0.56
5.73% 23,780.00 (51,399.77) A+ 0.54
35
40
HOLDINGS REPORT
City of Dublin 1 As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Cusip
Security Description
Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value Mkt Price
Book Value Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
00440EAS6
CHUBB INA HOLDINGS LLC 3.15
03/15/2025
2,500,000.00
0.78%
2,753,600.00
2,541,295.86
98.43
5.44%
2,460,641.95
23,187.50
0.84% A3/A
(80,653.91) A
0.71
0.68
14913R2V8
CATERPILLAR FINANCIAL SERVICES
CORP 3.4 05/13/2025
1,165,000.00 05/10/2022
3.44%
1,163,520.45
1,164,573.42
98.36
5.35%
1,145,870.47
5,281.33
0.39% A2/A
(18,702.95) A+
0.87
0.84
747525AF0
QUALCOMM INC 3.45 05/20/2025
3,000,000.00
1.61%
3,159,848.58
3,034,640.01
98.36
5.36%
2,950,764.09
11,787.50
1.01% A2/A
(83,875.92) NA
0.89
0.86
438516CB0
HONEYWELL INTERNATIONAL INC
1.35 06/01/2025
2,500,000.00 06/23/2020
0.85%
2,559,500.00
2,510,213.44
96.43
5.38%
2,410,813.43
2,812.50
0.83% A2/A
(99,400.01) A
0.92
0.89
78015K7H1
ROYAL BANK OF CANADA 1.15
06/10/2025
66815L2J7
02665WDL2
1,000,000.00 02/22/2021
0.86%
1,012,240.00
1,002,687.02
96.02
5.53%
960,243.36
670.83
0.33% Al/A
(42,443.66) AA-
0.94
0.92
NORTHWESTERN MUTUAL GLOBAL
FUNDING 4.0 07/01/2025
89114QCK2
AMERICAN HONDA FINANCE CORP
1.2 07/08/2025
TORONTO-DOMINION BANK 0.75
09/11/2025
2,500,000.00 06/27/2022
4.01%
2,499,150.00
2,499,716.92
98.74
5.31%
2,468,519.40
50,000.00
0.85% Aaa/AA+
(31,197.52) AAA
1.00
0.95
1,000,000.00 08/10/2021
1.00%
1,007,640.00
1,001,993.04
95.80
5.48%
958,026.26
5,766.67
0.33% A3/A-
(43,966.78) A
1.02
0.99
1,000,000.00 02/16/2021
0.81%
997,230.00
999,273.42
94.62
5.45%
946,242.16
2,291.67
0.32% Al/A
(53,031.26) AA-
1.20
1.16
06051GHY8
BANK OF AMERICA CORP 2.015
02/13/2026
1,250,000.00 03/04/2021
1.15%
46647PBH8
JPMORGAN CHASE & CO 2.005
03/13/2026
1,291,725.00
1,256,586.63
97.71
6.10%
1,221,390.88
9,655.21
0.42% A1/A-
(35,195.75) AA-
1.62
0.60
1,000,000.00 04/29/2021
1.21%
1,030,270.00
1,005,462.74
97.41
6.48%
974,105.85
6,015.00
0.33% A1/A-
(31,356.89) AA-
1.70
0.68
808513BR5
CHARLES SCHWAB CORP 1.15
05/13/2026
1,370,000.00 05/11/2021
1.20%
1,366,821.60
1,368,814.63
92.48
1,266,927.86
0.43% A2/A-
5.44% 2,100.67 (101,886.77) A
1.87
1.80
91324PEC2
UNITEDHEALTH GROUP INC 1.15
05/15/2026
2,000,000.00
1.90%
1,939,210.15
1,972,950.03
92.96
1,859,139.14
0.64% A2/A+
5.14% 2,938.89 (113,810.89) A
1.87
1.81
89236TJK2
TOYOTA MOTOR CREDIT CORP 1.125
06/18/2026
2,485,000.00 06/15/2021
1.13%
2,483,906.60
2,484,570.67
92.61
2,301,297.74
0.79% A1/A+
5.12% 1,009.53 (183,272.92) A+
1.97
1.90
58989V2D5
MET TOWER GLOBAL FUNDING 1.25
09/14/2026
06368FAC3
BANK OF MONTREAL 1.25
09/15/2026
1,285,000.00 09/07/2021
1.27%
1,283,817.80
1,284,478.82
91.68
1,178,038.13
0.40% Aa3/AA-
5.30% 4,774.13 (106,440.69) AA-
2.21
2.12
2,500,000.00
931142ER0
WALMART INC 1.05 09/17/2026
1.29%
2,495,539.50
2,498,031.13
91.60
2,289,940.70
0.79% A2/A-
5.33% 9,201.39 (208,090.43) AA-
2.21
2.12
585,000.00 09/08/2021
1.09%
583,894.35
584,510.75
92.18 539,274.71 0.19% Aa2/AA 2.22
4.81% 1,774.50 (45,236.04) AA 2.14
36
41
HOLDINGS REPORT
City of Dublin 1 As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Purchase
Moody's/
Par Value/ Date Cost Value Mkt Price Market Value % of Port. Maturity
Cusip Security Description S&P/
Units Purchase Book Value Mkt YTM Accrued Int. Gain/Loss Fitch Duration
Yield
59217GER6
87612EBM7
METROPOLITAN LIFE GLOBAL
FUNDING 11.875 01/11/2027
1,860,000.00 01/03/2022
1.90%
1,857,879.60
1,858,927.02
92.28
5.17%
1,716,316.97
16,468.75
0.59% Aa3/AA-
(142,610.05) AA-
2.53
2.40
TARGET CORP 1.95 01/15/2027
1,340,000.00 01/19/2022
1.99%
1,337,722.00
1,338,836.56
93.06 1,247,006.95 0.43% A2/A 2.54
4.89% 12,048.83 (91,829.61) A 2.41
808513BY0
CHARLES SCHWAB CORP 2.45
03/03/2027
585,000.00 03/01/2022
2.47%
584,368.20
584,662.65
93.27 545,606.14 0.19% A2/A- 2.67
5.18% 4,697.88 (39,056.51) A 2.52
084664CZ2
BERKSHIRE HATHAWAY FINANCE
CORP 2.3 03/15/2027
2,295,000.00 03/07/2022
2.30%
2,294,563.95
2,294,764.30
93.74 2,151,270.87 0.74% Aa2/AA 2.71
4.79% 15,542.25 (143,493.43) A+ 2.56
40139LBF9
GUARDIAN LIFE GLOBAL FUNDING
3.246 03/29/2027
765,000.00 03/24/2022
3.25%
765,000.00
765,000.00
95.34 729,369.09 0.25% Aa1/AA+ 2.74
5.08% 6,345.93 (35,630.91) NA 2.56
023135CF1
AMAZON.COM INC 3.3 04/13/2027
1,750,000.00 04/25/2022
3.34%
1,746,972.50
1,748,302.46
95.89 1,678,151.93 0.58% A1/AA 2.79
4.89% 12,512.50 (70,150.53) AA- 2.60
46647PCB0
JPMORGAN CHASE & CO 1.578
04/22/2027
927804GH1
500,000.00 08/23/2022
4.64%
VIRGINIA ELECTRIC AND POWER CO
3.75 05/15/2027
14913R3A3
1,000,000.00
449,845.00
474,499.47
93.32 466,604.21 0.16% A1/A- 2.81
5.77% 1,512.25 (7,895.27) AA- 1.74
999,773.40
3.75% 999,855.79
96.31 963,078.66 0.33% A2/BBB+ 2.87
5.15% 4,791.67 (36,777.13) A 2.67
CATERPILLAR FINANCIAL SERVICES
CORP 3.6 08/12/2027
1,375,000.00
1,357,243.75
3.89% 1,363,765.08
96.24 1,323,366.72 0.45% A2/A 3.12
4.91% 19,112.50 (40,398.36) A+ 2.86
931142EX7
WALMART INC 3.95 09/09/2027
1,500,000.00 -- 1,498,302.30
3.97% 1,498,916.86
89236TKJ3
97.70 1,465,552.23 0.50% Aa2/AA 3.19
4.73% 18,433.33 (33,364.63) AA 2.92
TOYOTA MOTOR CREDIT CORP 4.55 1,500,000.00 11/22/2022 1,479,060.00 98.77 1,481,608.43 0.51% Al/A+ 3.22
09/20/2027
4.88% 1,486,008.28
4.96% 19,147.92 (4,399.85) A+ 2.92
023135CP9
AMAZON.COM INC 4.55 12/01/2027 1,000,000.00 01/17/2023 1,014,400.00 99.26 992,569.69 0.34% A1/AA 3.42
4.21% 1,010,039.61 4.79% 3,791.67 (17,469.92) AA- 3.12
89115A2M3
TORONTO-DOMINION BANK 5.156 3,000,000.00 -- 2,984,380.00 99.88 2,996,396.73 1.03% Al/A 3.53
01/10/2028 5.28% 2,987,962.15 5.19% 73,473.00 8,434.58 AA- 3.11
756109AU8
REALTY INCOME CORP 3.65 960,000.00 04/10/2023 910,540.80 95.18 913,734.07 0.31% A3/A- 3.54
01/15/2028 4.87% 923,225.56 5.16% 16,157.33 (9,491.50) WR 3.21
24422EWR6
JOHN DEERE CAPITAL CORP 4.75 2,000,000.00 01/23/2023 2,030,780.00 99.57 1,991,479.24 0.68% A1/A 3.56
01/20/2028 4.40% 2,021,939.84 4.88% 42,486.11 (30,460.60) A+ 3.17
06051GG FO
BANK OF AMERICA CORP 3.824 3,000,000.00 -- 2,824,349.55 96.38 2,891,507.10 0.99% A1/A- 3.56
01/20/2028 5.54% 2,883,103.18 5.85% 51,305.33 8,403.92 AA- 2.35
37
42
HOLDINGS REPORT
City of Dublin I As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Cusip Security Description
Purchase
Par Value/ Date Cost Value Mkt Price Market Value % of Port.
Units Purchase Book Value Mkt YTM Accrued Int. Gain/Loss
Yield
Moody's/
S&P/
Fitch
Maturity
Duration
06368LGV2
BANK OF MONTREAL 5.203
02/01/2028
2,000,000.00 08/17/2023
5.56%
1,972,380.00
1,977,734.03
100.15
5.16%
2,002,921.22
43,358.33
0.69% A2/A-
25,187.19 AA-
3.59
3.17
91324PEP3
UNITEDHEALTH GROUP INC 5.25
02/15/2028
1,500,000.00 02/21/2023
4.90%
1,522,890.00
1,516,562.27
101.30
4.85%
1,519,523.91
29,750.00
0.52% A2/A+ 3.63
2,961.64 A
3.14
46647PAF3
JPMORGAN CHASE & CO 3.54 2,000,000.00 08/16/2023 1,854,340.00
05/01/2028
5.75%
95.44 1,908,740.12 0.66% A1/A- 3.84
1,888,600.27 5.72% 11,800.00 20,139.85 AA- 2.64
58933YBH7 MERCK & CO INC 4.05 05/17/2028 3,500,000.00 -- 3,497,960.40
4.06% 3,498,419.00
06406RBG1
BANK OF NEW YORK MELLON CORP
3.992 06/13/2028
97.90 3,426,391.61 1.18% A1/A+ 3.88
4.65% 17,325.00 (72,027.40) NA 3.53
1, 500, 000.00 10/26/2023 1, 395, 930.00
6.16% 1,415,216.80
96.71
5.52%
1,450,636.16
2,994.00
0.50% A1/A 3.96
35,419.35 AA- 2.74
02665WEM9 AMERICAN HONDA FINANCE CORP 1,370,000.00 10/12/2023 1,343,288.50 100.46 1,376,240.57 0.47% A3/A- 4.02
5.125 07/07/2028 5.60% 1,347,296.77 5.00% 33,936.04 28,943.80 A 3.51
78016HZS2 ROYAL BANK OF CANADA 5.2 2,500,000.00 09/07/2023 2,464,100.00 100.66 2,516,414.88 0.86% A1/A 4.09
08/01/2028 5.54% 2,470,009.63 5.02% 54,166.67 46,405.24 AA- 3.57
756109BS2
REALTY INCOME CORP 4.7 1,300,000.00 -- 1,285,086.00 98.17 1,276,256.19 0.44% A3/A- 4.46
12/15/2028 4.98% 1,285,776.49 5.16% 2,715.56 (9,520.31) NA 3.96
91324PEU2
UNITEDHEALTH GROUP INC 4.25 1,000,000.00 01/23/2024 984,020.00 97.37 973,719.05 0.33% A2/A+ 4.54
01/15/2029 4.61% 985,409.57 4.90% 19,597.22 (11,690.52) A 3.99
24422EXH7
JOHN DEERE CAPITAL CORP 4.5 2,000,000.00 04/18/2024 1,945,100.00 98.30 1,966,034.22 0.67% Al/A 4.55
01/16/2029 5.16% 1,947,321.39 4.92% 43,250.00 18,712.83 A+ 3.97
91159HJK7
US BANCORP 4.653 02/01/2029 1,250,000.00 04/11/2024
5.66%
1,207,450.00
1,209,812.18
97.85 1,223,110.64 0.42% A3/A 4.59
5.58% 24,234.38 13,298.45 A 3.19
17275RBR2
CISCO SYSTEMS INC 4.85 1,565,000.00 02/21/2024 1,564,452.25 99.98 1,564,723.90 0.54% A1/AA-
02/26/2029 4.86% 1,564,490.03 4.85% 26,355.03 233.88 NA
4.66
4.06
61747YFD2
Total Corporate
MORGAN STANLEY 5.164 2,250,000.00 05/30/2024 2,228,212.50 99.68 2,242,697.96 0.77% A1/A- 4.80
04/20/2029 5.44% 2,228,688.14 5.58% 22,915.25 14,009.82 A+ 3.38
78,097,508.28
78,380,000.00 3.44% 77,859,320.12
96.98 75,954,351.64 26.08% A1/A 2.75
5.23% 814,612.15 (1,904,968.48) A+ 2.36
MONEY MARKET
FUND
38
43
HOLDINGS REPORT
City of Dublin I As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Cusip Security Description
Purchase
Par Value/ Date
Units Purchase
Yield
Cost Value Mkt Price
Book Value Mkt YTM
Market Value % of Port.
Accrued Int. Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
31846V203
Total Money Market
Fund
FIRST AMER:GVT OBLG Y
356,932.33
4.92%
356,932.33
356,932.33
1.00
4.92%
356,932.33
0.00
0.12%
Aaa/
0.00 AAAm
AAA
0.00
0.00
356,932.33
356,932.33 4.92% 356,932.33
1.00
4.92%
356,932.33
0.00
Aaa/
0.12% AAAm 0.00
0.00 AAA 0.00
SUPRANATIONAL
459058JBO
4581X0DN5
INTERNATIONAL BANK FOR
RECONSTRUCTION AND DEVELOPM
0.625 04/22/2025
2,260,000.00 04/15/2020
0.70%
2,251,253.80
2,258,587.00
96.39 2,178,472.69 0.75% Aaa/AAA 0.81
5.23% 2,711.62 (80,114.31) NA 0.79
INTER-AMERICAN DEVELOPMENT 1,685,000.00 01/13/2021 1,692,329.75
BANK 0.625 07/15/2025 0.53% 1,686,691.82
459058JL8
INTERNATIONAL BANK FOR
RECONSTRUCTION AND DEVELOPM
0.5 10/28/2025
4581X0DV7
95.45 1,608,302.76 0.55% Aaa/AAA 1.04
5.17% 4,856.08 (78,389.06) NA 1.01
6,000,000.00
0.55%
5,986,632.00
5,996,264.92
94.26 5,655,439.68 1.94% Aaa/AAA 1.33
5.02% 5,250.00 (340,825.24) NA 1.29
INTER-AMERICAN DEVELOPMENT 4,615,000.00 04/13/2021 4,593,863.30
BANK 0.875 04/20/2026 0.97% 4,607,383.38
459058KT9
INTERNATIONAL BANK FOR
RECONSTRUCTION AND DEVELOPM
3.5 07/12/2028
93.15 4,298,832.86 1.48% Aaa/AAA 1.80
4.88% 7,964.08 (308,550.52) NA 1.75
5,000,000.00
-- 4,813,059.00
4.35% 4,846,508.87
96.35 4,817,704.75 1.65% Aaa/AAA 4.03
4.50% 82,152.78 (28,804.12) NA 3.65
45950KDD9
INTERNATIONAL FINANCE CORP 4.5 1,605,000.00 07/06/2023 1,603,218.45
07/13/2028 4.53% 1,603,563.64
100.04 1,605,608.47 0.55% Aaa/AAA 4.04
4.49% 33,705.00 2,044.83 NA 3.58
4581X0DC9
INTER-AMERICAN DEVELOPMENT 3,360,000.00 -- 3,187,150.40
BANK 3.125 09/18/2028 4.33% 3,207,822.00
4581X0EN4
94.71 3,182,365.74 1.09% Aaa/AAA 4.22
4.51% 30,041.67 (25,456.26) NA 3.85
INTER-AMERICAN DEVELOPMENT 3,000,000.00 02/15/2024 2,970,690.00
BANK 4.125 02/15/2029 4.34% 2,972,813.45
98.60 2,957,929.74 1.02% Aaa/AAA 4.63
4.46% 51,906.25 (14,883.71) NA 4.09
Total Supranational 27,525,000.00
27,098,196.70
2.45% 27,179,635.09
95.61 26,304,656.69 9.03% Aaa/AAA 2.73
4.77% 218,587.47 (874,978.40) NA 2.50
US TREASURY
39
44
HOLDINGS REPORT
City of Dublin 1 As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Cusip
Security Description
Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value Mkt Price
Book Value Mkt YTM
Market Value
Accrued Int.
of Port. Moody's/
S&P/
Gain/Loss Fitch
Maturity
Duration
91282CFP1
UNITED STATES TREASURY 4.25
10/15/2025
1,500,000.00
4.24%
1,500,431.56
99.06
1,500,212.94 5.00%
1,485,937.50
13,411.89
91282CBH3
UNITED STATES TREASURY 0.375
01/31/2026
3,000,000.00 02/23/2021
0.58%
2,970,468.75
2,990,511.32
0.51% Aaa/AA+
(14,275.44) AA+
1.29
1.23
93.20 2,795,976.57 0.96% Aaa/AA+
4.89% 4,697.80 (194,534.75) AA+
1.59
1.54
91282CBQ3
91282CBT7
UNITED STATES TREASURY 0.5
02/28/2026
UNITED STATES TREASURY 0.75
03/31/2026
2,500,000.00 03/26/2021
0.83%
2,459,960.94
2,486,475.40
93.12
2,327,929.70
0.80% Aaa/AA+
4.84% 4,177.99 (158,545.70) AA+
1.67
1.62
5,000,000.00
0.85%
4,974,804.69
4,991,167.27
93.26
4,662,890.60
1.60% Aaa/AA+
4.81% 9,426.23 (328,276.67) AA+
1.75
1.70
91282CCF6
UNITED STATES TREASURY 0.75
05/31/2026
2,000,000.00 06/18/2021
0.90%
1,985,000.00
1,994,191.14
92.74
1,854,765.62
0.64% Aaa/AA+
4.76% 1,270.49 (139,425.52) AA+
1.92
1.86
91282CCW9
UNITED STATES TREASURY 0.75
08/31/2026
2,000,000.00 08/30/2021
0.77%
1,998,515.63
1,999,356.99
91.97
1,839,375.00
0.63% Aaa/AA+ 2.17
4.69% 5,013.59 (159,981.99) AA+
91282CDG3
UNITED STATES TREASURY 1.125
10/31/2026
5,000,000.00
1.25%
4,970,498.06
92.29
2.10
4,614,257.80
1.58% Aaa/AA+
4,985,944.01 4.65% 9,476.90 (371,686.21) AA+
2.34
2.25
912828Z78
UNITED STATES TREASURY 1.5
01/31/2027
4,500,000.00
2.15%
4,367,285.16
4,428,388.88
92.55
4,164,609.38
1.43% Aaa/AA+
4.59% 28,186.81 (263,779.51) AA+
2.59
2.47
91282CEN7
UNITED STATES TREASURY 2.75
04/30/2027
91282CEW7
UNITED STATES TREASURY 3.25
06/30/2027
7,000,000.00
9,000,000.00
3.55%
6,761,484.38
6,854,844.19
95.27
6,669,140.66
2.29% Aaa/AA+
4.54% 32,432.07 (185,703.53) AA+
2.83
2.67
- 9,018,066.41
3.22%
96.49
8,683,945.29
2.98% Aaa/AA+
9,008,407.22 4.51% 794.84 (324,461.93) AA+
3.00
2.82
91282CFM8
UNITED STATES TREASURY 4.125
09/30/2027
10,000,000.00
- 10,074,062.50
98.87
9,886,718.80
3.39% Aaa/AA+
3.95% 10,050,281.63 4.50% 103,688.52 (163,562.83) AA+
3.25
2.98
91282CGC9
UNITED STATES TREASURY 3.875
12/31/2027
10,000,000.00
3.70%
10,078,828.13
10,055,970.22
98.08
9,808,203.10
3.37% Aaa/AA+
4.47% 1,052.99 (247,767.12) AA+
3.50
3.23
91282CGT2
UNITED STATES TREASURY 3.625
03/31/2028
7,000,000.00
3.58%
7,014,042.96
97.19
6,803,125.00
2.34% Aaa/AA+
7,010,751.32 4.45% 63,784.15 (207,626.32) AA+
3.75
3.43
91282CHE4
UNITED STATES TREASURY 3.625
05/31/2028
4,500,000.00
4.07%
4,412,773.44
4,430,240.65
97.15
4.42%
4,371,855.48
13,816.60
1.50% Aaa/AA+
(58,385.17) AA+
3.92
3.59
91282CHQ7
UNITED STATES TREASURY 4.125
07/31/2028
9,000,000.00
4.51%
8,848,203.13
98.94
8,872,581.69 4.41%
8,904,726.54
155,027.47
3.06% Aaa/AA+
32,144.85 AA+
4.08
3.66
91282CJA0
UNITED STATES TREASURY 4.625
09/30/2028
3,750,000.00
- 3,702,089.84
4.92% 3,708,805.61
100.85 3,781,787.10 1.30% Aaa/AA+ 4.25
4.40% 43,596.31 72,981.49 AA+ 3.78
40
45
HOLDINGS REPORT
City of Dublin 1 As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Cusip
Security Description
Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value Mkt Price
Book Value Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CJN2
UNITED STATES TREASURY 4.375
11/30/2028
5,500,000.00
91282CJR3
UNITED STATES TREASURY 3.75
12/31/2028
5,500,000.00
4.03%
5,584,941.41
5,576,033.35
99.98
4.38%
5,499,140.63
20,380.81
1.89% Aaa/AA+
(76,892.72) AA+
4.42
3.96
4.00%
5,438,359.38
5,443,815.92
97.45
4.38%
5,359,492.16
560.46
1.84% Aaa/AA+
(84,323.76) AA+
4.50
4.09
91282CKD2
91282CKP5
UNITED STATES TREASURY 4.25
02/28/2029
13,000,000.00
- 12,891,953.13
4.44%
12,941,601.53
12,896,328.22 4.36% 184,667.12
99.55
4.44% Aaa/AA+
45,273.31 AA+
4.67
4.13
UNITED STATES TREASURY 4.625
04/30/2029
Total US Treasury
Total Portfolio
Total Market Value +
Accrued
12,250,000.00
122,000,000.00
299,433,806.68
4.42%
- 12, 359, 384.76 101.15 12, 390, 683.66
12,358,823.14 4.36% 95,453.46
4.25% Aaa/AA+
31,860.52 AA+
4.83
4.27
3.50%
121,411,154.26 97.49 118,846,162.11
121,643,131.12 4.49% 790,916.50 (2,796,969.01) AA+
40.80% Aaa/AA+ 3.56
3.24
3.32%
298,322,611.65 97.07 291,266,941.23
298,206,582.00 4.84% 2,031,615.68 (6,939,640.77) AA
293,298,556.91
100.00% Aa2/AA-
41
3.03
2.57
46
HOLDINGS REPORT
City of Dublin Reporting Account 1 As of June 30, 2024
CM
CHANDLER
ASSET MANAGEMENT
Cusip Security Description
Purchase
Par Value/ Date Cost Value Mkt Price Market Value % of Port.
Units Purchase Book Value Mkt YTM Accrued Int. Gain/Loss
Yield
Moody's/
S&P/
Fitch
Maturity
Duration
CASH
CCYUSD
Total Cash
Receivable
293,968.95
0.00%
293,968.95
293,968.95
1.00
0.00%
293,968.95
0.00
0.21% Aaa/AAA
0.00 AM
0.00
0.00
293,968.95
293,968.95
0.00% 293,968.95
1.00
0.00%
293,968.95
0.00
0.21% Aaa/AAA
0.00 AAA
0.00
0.00
LAIF
90LAIF$00 Local Agency Investment Fund State 27,087,152.90 -- 27,087,152.90
Pool 4.56% 27,087,152.90
1.00
4.56%
27,087,152.90
0.00
19.10% NA/NA
0.00 NA
0.00
0.00
Total LAIF
27,087,152.90
27,087,152.90
4.56% 27,087,152.90
1.00 27,087,152.90 19.10% NA/NA 0.00
4.56% 0.00 0.00 NA 0.00
LOCAL GOV
INVESTMENT POOL
90CAMP$00 CAMP
114,468,288.08
114,468,288.08
5.44% 114,468,288.08
1.00 114,468,288.08 80.70% NA/AAAm 0.00
5.44% 0.00 0.00 AAA 0.00
Total Local Gov
Investment Pool 114,468,288.08 5.44%
114,468,288.08
114,468,288.08
1.00
5.44%
114,468,288.08
0.00
NA/
80.70% AAAm 0.00
0.00 AAA 0.00
Total Portfolio
141,849,409.93 5.26%
141,849,409.93
141,849,409.93
1.00 141,849,409.93 100.00% Aaa/AAA 0.00
5.26% 0.00 0.00 AAA 0.00
Total Market Value +
Accrued
141,849,409.93
42
47
CiitCHANDLER
ASSET MANAGEMENT
TRANSACTIONS
43
48
TRANSACTION LEDGER
City of Dublin 1 Account #10198104/01/2024 Through 06/30/20241
CM
CHANDLER
ASSET MANAGEMENT
Transaction Settlement CUSIP
Type Date
Quantity Security Description Price
Acq/Disp
Yield
Amount
Interest Pur/
Sold
Total Amount Gain/Loss
ACQUISITIONS
Purchase
04/15/2024 91159HJK7
1,250,000.00 US BANCORP 4.653
02/01/2029
96.596 5.47% (1,207,450.00) (11,955.63) (1,219,405.63)
0.00
Purchase 04/17/2024 91282CKD2 3,000,000.00 UNITED STATES 98.113 4.69% (2,943,398.44) (16,630.43) (2,960,028.87) 0.00
TREASURY 4.25
02/28/2029
Purchase 04/22/2024 24422EXH7 2,000,000.00 JOHN DEERE CAPITAL 97.255 5.16% (1,945,100.00) (26,000.00) (1,971,100.00) 0.00
CORP 4.5 01/16/2029
Purchase 04/25/2024 91282CKD2 3,000,000.00 UNITED STATES 98.246 4.66% (2,947,382.81) (19,402.17) (2,966,784.98) 0.00
TREASURY 4.25
02/28/2029
Purchase 04/30/2024 91282CKP5 2,000,000.00 UNITED STATES 99.703 4.69% (1,994,062.50) 0.00 (1,994,062.50) 0.00
TREASURY 4.625
04/30/2029
Purchase 05/16/2024 36269WAD1 1,055,000.00 GMALT 2024-2 A3 5.39 99.994 5.85% (1,054,938.71) 0.00 (1,054,938.71) 0.00
07/20/2027
Purchase 05/20/2024 91282CKP5 3,000,000.00 UNITED STATES 100.813 4.44% (3,024,375.00) (7,540.76) (3,031,915.76) 0.00
TREASURY 4.625
04/30/2029
Purchase 05/21/2024 437930AC4 1,000,000.00 HONDO-242-A3 5.27 99.988 5.27% (999,878.50) 0.00 (999,878.50) 0.00
11/20/2028
Purchase 05/23/2024 58770JAD6 765,000.00 MBALT 2024-A A3 5.32 99.988 5.73% (764,910.50) 0.00 (764,910.50) 0.00
01/18/2028
Purchase 05/30/2024 756109B52 300,000.00 REALTY INCOME CORP 96.942 5.47% (290,826.00) (6,462.50) (297,288.50) 0.00
4.7 12/15/2028
Purchase 05/31/2024 61747YFD2 750,000.00 MORGAN STANLEY 99.025 5.40% (742,687.50) (4,410.92) (747,098.42) 0.00
5.164 04/20/2029
Purchase 05/31/2024 61747YFD2 1,500,000.00 MORGAN STANLEY 99.035 5.39% (1,485,525.00) (8,821.83) (1,494,346.83) 0.00
5.164 04/20/2029
Purchase
06/11/2024 096919AD7
1,305,000.00 BMWOT 2024-A A3 99.985 5.18% (1,304,801.77) 0.00 (1,304,801.77) 0.00
5.18 02/26/2029
44
49
TRANSACTION LEDGER
City of Dublin 1 Account #10198104/01/2024 Through 06/30/20241
CM
CHANDLER
ASSET MANAGEMENT
Transaction Settlement CUSIP
Type Date
Quantity Security Description
c
Price Aq/Disp
Yield
Amount
Interest Puri
Sold
Total Amount Gain/Loss
Purchase
06/13/2024 05522RDJ4
1,480,000.00 BACCT 2024-1 A 4.93
03/15/2029
99.994
4.93%
(1,479,916.97)
0.00
(1,479,916.97)
Purchase 06/18/2024 47786WAD2
1,110,000.00 JDOT 2024-B A3 5.2
03/15/2029
99.980 5.81% (1,109,783.00)
0.00 (1,109,783.00)
0.00
0.00
Purchase 06/27/2024 91282CKP5 6,000,000.00 UNITED STATES 101.238 4.34% (6,074,296.87) (43,736.41) (6,118,033.28) 0.00
TREASURY 4.625
04/30/2029
Purchase 06/28/2024 91282CKP5 1,250,000.00 UNITED STATES 101.332 4.32% (1,266,650.39) (9,268.85) (1,275,919.24) 0.00
TREASURY 4.625
04/30/2029
Total Purchase 30,765,000.00
(30,635,983.96) (154,229.50) (30,790,213.46) 0.00
TOTAL
ACQUISITIONS
30,765,000.00
(30,635,983.96) (154,229.50) (30,790,213.46) 0.00
DISPOSITIONS
Call
Redemption
05/30/2024 61747YEA9
(3,040,000.00) MORGAN STANLEY 100.000 0.79% 3,040,000.00 0.00 3,040,000.00 0.00
0.79 05/30/2025
Total Call
Redemption (3,040,000.00) 3,040,000.00 0.00 3,040,000.00 0.00
Sale 04/17/2024 91282CBC4 (1,000,000.00) UNITED STATES 92.453 0.38% 924,531.25 1,112.64 925,643.89 (75,442.10)
TREASURY 0.375
12/31/2025
Sale 04/17/2024 91282CBH3 (1,000,000.00) UNITED STATES 92.105 0.58% 921,054.69 793.27 921,847.96 (75,372.72)
TREASURY 0.375
01/31/2026
Sale 04/17/2024 91282CFP1 (1,000,000.00) UNITED STATES 98.785 4.40% 987,851.56 232.24 988,083.80 (12,313.01)
TREASURY 4.25
10/15/2025
Sale 04/22/2024 24422ETT6 (2,000,000.00) JOHN DEERE CAPITAL 99.495 2.02% 1,989,900.00 17,372.22 2,007,272.22 (14,560.87)
CORP 2.65 06/24/2024
45
50
TRANSACTION LEDGER
City of Dublin 1 Account #10198104/01/2024 Through 06/30/20241
CM
CHANDLER
ASSET MANAGEMENT
Transaction
Type
Settlement
Date CUSIP
Quantity Security Description
Price Acq/Disp
Yield
Amount
Interest Pur/
Sold
Total Amount Gain/Loss
Sale
04/25/2024 3133ENZ94
Sale
(5,480,000.00) FEDERAL FARM CREDIT
BANKS FUNDING CORP
4.5 11/18/2024
05/20/2024 91282CFP1
99.506
4.55%
5,452,928.80
107,545.00
5,560,473.80 (25,426.30)
(3,000,000.00) UNITED STATES 98.980 4.40% 2,969,414.06 12,192.62 2,981,606.68 (31,049.80)
TREASURY 4.25
10/15/2025
Sale 06/11/2024 91282CFP1 (1,500,000.00) UNITED STATES 98.926 4.29% 1,483,886.72 9,928.28 1,493,815.00 (16,335.26)
TREASURY 4.25
10/15/2025
Sale 06/12/2024 91282CFP1 (750,000.00) UNITED STATES 98.977 4.29% 742,324.22 5,051.23 747,375.45 (7,786.55)
TREASURY 4.25
10/15/2025
Sale 06/27/2024 3135G0X24 (4,200,000.00) FEDERAL NATIONAL 98.069 1.69% 4,118,898.00 32,229.17 4,151,127.17 (90,758.01)
MORTGAGE
ASSOCIATION 1.625
01/07/2025
Sale 06/27/2024 91282CFP1 (1,000,000.00) UNITED STATES 99.070 4.29% 990,703.13 8,476.78 999,179.91 (9,440.04)
TREASURY 4.25
10/15/2025
Sale 06/28/2024 91282CFP1 (1,250,000.00) UNITED STATES 99.063 4.29% 1,238,281.25 10,741.12 1,249,022.37 (11,897.33)
TREASURY 4.25
10/15/2025
Total Sale
(22,180,000.00) 21,819,773.68
205,674.57 22,025,448.25 (370,381.98)
TOTAL
DISPOSITIONS
(25,220,000.00)
24,859,773.68 205,674.57 25,065,448.25 (370,381.98)
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IMPORTANT DISCLOSURES
City of Dublin 1 As of June 30, 2024
2024 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.
CAN
CHANDLER
ASSET MANAGEMENT
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.
47
52
BENCHMARK DISCLOSURES
City of Dublin I As of June 30, 2024
CAN
CHANDLER
ASSET MANAGEMENT
Benchmark Disclosure
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.
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Attachment 2
TRANSACTION LEDGER
City of Dublin 1 Account #10198104/01/2024 Through 06/30/20241
CM
CHANDLER
ASSET MANAGEMENT
Transaction Settlement CUSIP
Type Date
Quantity Security Description Price
Acq/Disp
Yield
Amount
Interest Pur/
Sold
Total Amount Gain/Loss
ACQUISITIONS
Purchase
04/15/2024 91159HJK7
1,250,000.00 US BANCORP 4.653
02/01/2029
96.596 5.47% (1,207,450.00) (11,955.63) (1,219,405.63)
0.00
Purchase 04/17/2024 91282CKD2 3,000,000.00 UNITED STATES 98.113 4.69% (2,943,398.44) (16,630.43) (2,960,028.87) 0.00
TREASURY 4.25
02/28/2029
Purchase 04/22/2024 24422EXH7 2,000,000.00 JOHN DEERE CAPITAL 97.255 5.16% (1,945,100.00) (26,000.00) (1,971,100.00) 0.00
CORP 4.5 01/16/2029
Purchase 04/25/2024 91282CKD2 3,000,000.00 UNITED STATES 98.246 4.66% (2,947,382.81) (19,402.17) (2,966,784.98) 0.00
TREASURY 4.25
02/28/2029
Purchase 04/30/2024 91282CKP5 2,000,000.00 UNITED STATES 99.703 4.69% (1,994,062.50) 0.00 (1,994,062.50) 0.00
TREASURY 4.625
04/30/2029
Purchase 05/16/2024 36269WAD1 1,055,000.00 GMALT 2024-2 A3 5.39 99.994 5.85% (1,054,938.71) 0.00 (1,054,938.71) 0.00
07/20/2027
Purchase 05/20/2024 91282CKP5 3,000,000.00 UNITED STATES 100.813 4.44% (3,024,375.00) (7,540.76) (3,031,915.76) 0.00
TREASURY 4.625
04/30/2029
Purchase 05/21/2024 437930AC4 1,000,000.00 HONDO-242-A3 5.27 99.988 5.27% (999,878.50) 0.00 (999,878.50) 0.00
11/20/2028
Purchase 05/23/2024 58770JAD6 765,000.00 MBALT 2024-A A3 5.32 99.988 5.73% (764,910.50) 0.00 (764,910.50) 0.00
01/18/2028
Purchase 05/30/2024 756109B52 300,000.00 REALTY INCOME CORP 96.942 5.47% (290,826.00) (6,462.50) (297,288.50) 0.00
4.7 12/15/2028
Purchase 05/31/2024 61747YFD2 750,000.00 MORGAN STANLEY 99.025 5.40% (742,687.50) (4,410.92) (747,098.42) 0.00
5.164 04/20/2029
Purchase 05/31/2024 61747YFD2 1,500,000.00 MORGAN STANLEY 99.035 5.39% (1,485,525.00) (8,821.83) (1,494,346.83) 0.00
5.164 04/20/2029
Purchase
06/11/2024 096919AD7
1,305,000.00 BMWOT 2024-A A3 99.985 5.18% (1,304,801.77) 0.00 (1,304,801.77) 0.00
5.18 02/26/2029
44
54
TRANSACTION LEDGER
City of Dublin 1 Account #10198104/01/2024 Through 06/30/20241
CM
CHANDLER
ASSET MANAGEMENT
Transaction Settlement CUSIP
Type Date
Quantity Security Description
c
Price Aq/Disp
Yield
Amount
Interest Puri
Sold
Total Amount Gain/Loss
Purchase
06/13/2024 05522RDJ4
1,480,000.00 BACCT 2024-1 A 4.93
03/15/2029
99.994
4.93%
(1,479,916.97)
0.00
(1,479,916.97)
Purchase 06/18/2024 47786WAD2
1,110,000.00 JDOT 2024-B A3 5.2
03/15/2029
99.980 5.81% (1,109,783.00)
0.00 (1,109,783.00)
0.00
0.00
Purchase 06/27/2024 91282CKP5 6,000,000.00 UNITED STATES 101.238 4.34% (6,074,296.87) (43,736.41) (6,118,033.28) 0.00
TREASURY 4.625
04/30/2029
Purchase 06/28/2024 91282CKP5 1,250,000.00 UNITED STATES 101.332 4.32% (1,266,650.39) (9,268.85) (1,275,919.24) 0.00
TREASURY 4.625
04/30/2029
Total Purchase 30,765,000.00
(30,635,983.96) (154,229.50) (30,790,213.46) 0.00
TOTAL
ACQUISITIONS
30,765,000.00
(30,635,983.96) (154,229.50) (30,790,213.46) 0.00
DISPOSITIONS
Call
Redemption
05/30/2024 61747YEA9
(3,040,000.00) MORGAN STANLEY 100.000 0.79% 3,040,000.00 0.00 3,040,000.00 0.00
0.79 05/30/2025
Total Call
Redemption (3,040,000.00) 3,040,000.00 0.00 3,040,000.00 0.00
Sale 04/17/2024 91282CBC4 (1,000,000.00) UNITED STATES 92.453 0.38% 924,531.25 1,112.64 925,643.89 (75,442.10)
TREASURY 0.375
12/31/2025
Sale 04/17/2024 91282CBH3 (1,000,000.00) UNITED STATES 92.105 0.58% 921,054.69 793.27 921,847.96 (75,372.72)
TREASURY 0.375
01/31/2026
Sale 04/17/2024 91282CFP1 (1,000,000.00) UNITED STATES 98.785 4.40% 987,851.56 232.24 988,083.80 (12,313.01)
TREASURY 4.25
10/15/2025
Sale 04/22/2024 24422ETT6 (2,000,000.00) JOHN DEERE CAPITAL 99.495 2.02% 1,989,900.00 17,372.22 2,007,272.22 (14,560.87)
CORP 2.65 06/24/2024
45
55
TRANSACTION LEDGER
City of Dublin 1 Account #10198104/01/2024 Through 06/30/20241
CM
CHANDLER
ASSET MANAGEMENT
Transaction
Type
Settlement
Date CUSIP
Quantity Security Description
Price Acq/Disp
Yield
Amount
Interest Pur/
Sold
Total Amount Gain/Loss
Sale
04/25/2024 3133ENZ94
Sale
(5,480,000.00) FEDERAL FARM CREDIT
BANKS FUNDING CORP
4.5 11/18/2024
05/20/2024 91282CFP1
99.506
4.55%
5,452,928.80
107,545.00
5,560,473.80 (25,426.30)
(3,000,000.00) UNITED STATES 98.980 4.40% 2,969,414.06 12,192.62 2,981,606.68 (31,049.80)
TREASURY 4.25
10/15/2025
Sale 06/11/2024 91282CFP1 (1,500,000.00) UNITED STATES 98.926 4.29% 1,483,886.72 9,928.28 1,493,815.00 (16,335.26)
TREASURY 4.25
10/15/2025
Sale 06/12/2024 91282CFP1 (750,000.00) UNITED STATES 98.977 4.29% 742,324.22 5,051.23 747,375.45 (7,786.55)
TREASURY 4.25
10/15/2025
Sale 06/27/2024 3135G0X24 (4,200,000.00) FEDERAL NATIONAL 98.069 1.69% 4,118,898.00 32,229.17 4,151,127.17 (90,758.01)
MORTGAGE
ASSOCIATION 1.625
01/07/2025
Sale 06/27/2024 91282CFP1 (1,000,000.00) UNITED STATES 99.070 4.29% 990,703.13 8,476.78 999,179.91 (9,440.04)
TREASURY 4.25
10/15/2025
Sale 06/28/2024 91282CFP1 (1,250,000.00) UNITED STATES 99.063 4.29% 1,238,281.25 10,741.12 1,249,022.37 (11,897.33)
TREASURY 4.25
10/15/2025
Total Sale
(22,180,000.00) 21,819,773.68
205,674.57 22,025,448.25 (370,381.98)
TOTAL
DISPOSITIONS
(25,220,000.00)
24,859,773.68 205,674.57 25,065,448.25 (370,381.98)
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