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Home My WebLink About5.7 City Treasurer's Informational Report of Investments for the Quarter Ending September 30, 2024r DUBLIN CALIFORNIA STAFF REPORT CITY COUNCIL Agenda Item 5.7 DATE: November 19, 2024 TO: Honorable Mayor and City Councilmembers FROM: Colleen Tribby, City Manager SU B.ECT : City Treasurer's Informational Report of Investments for the Quarter Ending September 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 September 30, 2024 including a monthly transaction ledger. The City's investment portfolio for this period totaled $438,121,036 (market value) with an average market yield of 4.22%. As required by the City's Investment 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 September 30, 2024. FINANCIAL IMPACT: There is no financial impact resulting from this report. Investments are made in accordance with the City's 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 $303,495,281 managed by Chandler Asset Management (Chandler), and $134,625,755 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 3.89% and 4.96% 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 has shown positive but slower growth this year fueled by consumer spending. While consumers have been resilient, declining savings rates, 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. The labor market is showing signs of cooling, reflecting an improved balance between supply and demand for workers. Given the cumulative effects of restrictive monetary policy and tighter financial conditions, Chandler believes the economy will gradually soften and the Fed will continue to lower rates at a measured pace through this year with the ability to move more aggressively should the employment data warrant. 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 $2.97 million from the June 30, 2024 quarter. The quarterly change results from the normal fluctuations in the timing of incoming revenue, predominantly the receipt of sales tax revenue, expenditures on capital projects, as well as payments to Alameda County for police and fire services. The City's portfolio increased by $47.99 million from the same quarter the prior year due to General Fund operating revenues exceeding expenditures by $39.5 million on an annual basis, as well as the timing of capital project expenditures (see Table 1 below). Overall market yield -to -maturity has decreased to 4.22%, (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 September 30, 2023 Market Value June 30, 2024 Market Value September 30, 2024 Par Value Book Value Market Value % of Subtotal Total Portfolio Book Yield Market Yield Managed by City Cash' 293,969 314,182 314,182 314,182 0.2% 0.1% 0.00% 0.00% LAIF 26,297,090 27,087,153 27,392,776 27,392,776 27,392,776 20.3% 6.3% 4.57% 4.57% CAMP 82,616,317 114,468,288 106,918,796 106,918,796 106,918,796 79.4% 24.5% 5.08% 5.08% SUBTOTAL 108,913,407 141,849,410 134,625,755 134,625,755 134,625,755 100.00% 30.85% 4.96% 4.96% Accrued Interest2 222,462 - - 109,135,869 141,849,410 134,625,755 Managed by Chandler ABS 28,613,814 31,133,561 33,636,162 33,632,451 33,965,921 11.3% 7.7% 4.64% 4.33% Agency 46,770,742 29,682,071 21,160,000 21,226,662 21,005,009 7.0% 4.8% 2.41% 3.84% Cash3 448,879 10,076 10,076 10,076 0.0% 0.0% 0.00% 0.00% Agency CMBS 7,428,709 8,540,328 12,066,167 11,737,750 11,859,631 3.9% 2.8% 3.94% 3.90% Money Market 859,487 356,932 2,161,116 2,161,116 2,161,116 0.7% 0.5% 4.54% 4.54% Supranational 23,103,092 26,304,657 27,525,000 27,201,694 27,039,073 9.0% 6.3% 2.46% 3.84% Corporate 70,490,952 75,954,352 78,690,000 78,229,235 78,453,439 26.0% 18.0% 3.68% 4.21% US Treasury 102,206,540 118,846,162 126,500,000 126,269,966 127,188,477 42.2% 29.0% 3.58% 3.59% SUBTOTAL 279,473,336 291,266,941 301,748,521 300,468,950 301,682,742 100.00% 69.15% 3.56% 3.89% Accrued Interest 1,524,241 2,031,616 1,812,539 280,997,577 293,298,557 303,495,281 TOTAL PORTFOLIO 390,133,446 435,147,967 436,374,275 435,094,704 438,121,036 100.00% 4.22% Change from Prior Year 47,987,590 Change from Prior Quarter 2,973,069 'Includes cash on hand, receivables, payables and accrued interest from the Local Pools. 2Accrued Interest is now shown in Cash. 3lncludes cash on hand, receivables and payables from accounts managed by Chandler. Table 2: Quarterly Holdings (Market Value) by Type, and YTM, Five Quarters Holdings (Market Value) LAIF/CAMP ABS Agency Cash Agency CMBS Money Market Supranational Corporate US Treasury Accrued Interest TOTAL YIELD TO MATURITY 9/30/23 12/31/23 3/31/24 6/30/24 108, 913,407 136,194, 650 131, 332, 074 141, 555,441 28,613,814 25,798,334 27,628,978 31,133,561 46,770,742 45,535,489 39,102,074 29,682,071 730,962 742,848 7,428,709 8,685,518 8,630,360 8,540,328 859,487 1,159,231 813,046 356,932 23,103,092 23,370,361 26,247,930 26,304,657 70,490,952 72,851,163 75,214,801 75,954,352 102, 206,540 110,817, 325 110, 896, 377 118, 846,162 1,746,703 2,037,268 1,713,120 2,031,616 390,133,446 426,449,339 422,309,722 435,147,967 5.19% 4.71% 4.92% 4.98% 9/30/24 134,311,573 33,965,921 21,005,009 324,258 11,859,631 2,161,116 27,039,073 78,453,439 127,188,477 1,812,539 438,121,036 4.22% 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). Table 3 shows the yields in the pools and with the assets managed by Chandler over the most recent eight quarters. Page 3 of 4 3 Table 3: Quarterly Portfolio Yields, Recent Eight Quarters Market Yield LAIF CAMP Chandler 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% 9/30/24 4.57% 5.08% 3.89% STRATEGIC PLAN INITIATIVE: None. NOTICING REQUIREMENTS/PUBLIC OUTREACH: The City Council Agenda was posted. ATTACHMENTS: 1) City of Dublin Investment Report for Period Ending September 30, 2024 2) Transaction Ledger - July through September 2024 Page 4 of 4 4 Attachment I CitiCHANDLER ASSET MANAGEMENT INVESTMENT REPORT City of Dublin I As of September 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 CM City of Dublin I As of September 30, 2024 ECONOMIC UPDATE ACCOUNT PROFILE CONSOLIDATED INFORMATION PORTFOLIO HOLDINGS TRANSACTIONS CHANDLER ASSET MANAGEMENT 1 6 GUCHANDLER ASSET MANAGEMENT ECONOMIC UPDATE 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, declining savings rates, 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. The labor market is showing signs of cooling, reflecting an improved balance between supply and demand for workers. Given the cumulative effects of restrictive monetary policy and tighter financial conditions, we believe the economy will gradually soften and the Fed will continue to lower rates at a measured pace through this year with the ability to move more aggressively should the employment data warrant. • The Federal Open Market Committee (FOMC) delivered the first rate cut of the easing cycle with a 50 basis point cut at the September meeting. Although a reduction in the Fed Funds Rate was widely anticipated, the magnitude was somewhat of a surprise, as market participants were split between whether the FOMC would cut by 25 basis points or 50 basis points. Chair Jerome Powell reiterated previous statements acknowledging that monetary policy has shifted into a more balanced approach addressing price stability and full employment in tandem. The Fed released the quarterly Summary of Economic Projections (SEP) which now forecasts a substantially lower median Fed Funds Rate expectation among Fed Governors in 2025 due to lower inflation expectations and a higher projected unemployment rate. We believe the Fed will continue to lower rates at a measured pace through this year with the ability to move more aggressively should the employment data warrant. • The US Treasury yield curve shifted lower in September following the 50 basis points rate cut by the FOMC mid -month. The 2-year Treasury yield fell 28 basis points to 3.64%, the 5-year Treasury dropped 15 basis points to 3.56%, and the 10-year Treasury yield declined 12 basis points to 3.78%. The 2-year and 10-year Treasury yield points on the curve began to normalize to +14 basis points at September month -end versus -2 basis points at August month -end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was -47 basis points. The inversion between 3-month and 10-year Treasuries ended the month of September at -85 basis points. 8 3 EMPLOYMENT 1,000 800 0 0 600 400 s = - 200 w c s 0 u • -200 -400 \Ai i Nonfarm Payroll (000's) —Non-farm Payroll (000's) 3-month average (000's) SPa. �df•SPA, dr SPa �dr SPp �Q'r, SPa �dr, SPA 25.0% 20.0% 15.0% co cc +o 10.0% 5.0% 0.0% C'MCHANDLER ASSET MANAGEMENT Unemployment Rate Underemployment Rate (U6) Unemployment Rate (U3) sCbs /(,? S'9 4c? SPA` ik) 5 4c) S) �dr sox?, Source: US Department of Labor Source: US Department of Labor The U.S. economy added 254,000 jobs in September, well above expectations of 150,000. The three-month moving average and six-month moving average payrolls continued to trend weaker to 186,000 and 167,000 respectively. The unemployment rate declined to 4.1% in September, and the labor participation rate remained at 62.7%, 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 declined to 7.7% from 7.9%. Average hourly earnings rose 4.0% year -over -year in September. U.S. labor market data from September surprised to the upside, with strong job growth and a sharper -than -expected drop in unemployment, suggesting the economy may be more resilient than anticipated. The Federal Reserve's view is that there has been "substantial" progress towards better balance in the labor market between demand and supply for workers. 4 9 JOB OPENINGS & LABOR TURNOVER SURVEY In Thousands (000's) 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 Recession Historical Average Job Openings C'MCHANDLER ASSET MANAGEMENT �9�, -9�, �9(., �9<, �9(, �94, 1, '94, -9,, -9�, -9,, 494, �9(, �94, 14, qel, 1, -9,, -9,, �94, �94, �'O �'O �'O �'O �'O �'O �1 �'.7 �1 �'1 �'1 TVs �'.1 �'1> �',7 �',I �� \D �C �� St S 6 � cQ 9 O 1 � S A S 6 cQ 9 O .l � .7' St Source: US Department of Labor The Labor Department's Job Openings and Labor Turnover Survey (JOLTS) increased to 8.04 million job openings in August from an upwardly revised 7.71 million in July. Job openings have increased to a ratio of 1.13 jobs for each unemployed individual. The quits rate, an indicator of job availability, declined to 1.9% from downwardly revised 2.0% in July. That is the lowest level since 2020. While the current level of job openings remains elevated from a historical perspective, the trend is decelerating. 10 5 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 YOY (%) Change .Smod, .SPp` dr, SPp` �dr, SPA` �dr, Sip` �dr SPp` c)1 2� 2� 2� �,33 �g �4 Source: US Department of Labor 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 1y �p Np -1 21 �� 2� ��' �0) �g �Q Source: US Department of Commerce In September, the Consumer Price Index (CPI) rose 0.2% month -over -month and 2.4% year -over -year, down from 2.5% in August, but slightly higher than expected. The Core CPI, which excludes volatile food and energy components, rose by 0.3% month -over -month and 3.3% year -over -year, also exceeding consensus forecasts. The Personal Consumption Expenditures (PCE) Index rose 0.1% from the previous month and 2.2% year -over -year in August. The Core PCE deflator (the Fed's preferred gauge) increased 0.1% month -over -month and 2.7% over the past year, still above the Fed's 2% inflation target. Much of the lingering inflation has been driven by shelter costs and demand for services, but recent data provide confirmation that inflation is moderating. 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 19 c'p �p �1 cac:31 `), � c3Q 160 140 — 120 100 a) - 80 -aa 60 40 20 0 CM Consumer Confidence CHANDLER ASSET MANAGEMENT SPp` ` SipSPp Spa` SPp` SPa` Sop` SPp` Sip` pv 96 Vc9 1p l� 1Q 'l6, `)p 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 grew more than expected month -over -month in August at 0.1% after growth of 1.1% in July. On a year -over -year basis, Retail Sales grew 2.1% in August versus 2.9% in July. Control -group sales, which are used to calculate gross domestic product, rose 0.3% month - over -month in August after last month's data was revised higher to an increase of 0.4%. E-commerce contributed the most to the increase. The Conference Board's Consumer Confidence Index for September came in below expectations, contracting to 98.7 after an upward revision to 105.6 in August. The decline reflects recent softening in labor market conditions, and less optimism about the job market and income growth. While the consumer has been resilient, consumption has begun to moderate in the face of declining savings rates, growing credit card debt, higher delinquencies, and a moderating labor market. 7 12 LEADING INDICATORS OF ECONOMIC ACTIVITY 15.0% 10.0% 5.0% a 0.0% rac -5.0% o -10.0% -15.0% C'MCHANDLER ASSET MANAGEMENT Leading Economic Indicators (LEI) Chicago Fed National Activity Index (CFNAI) 1.00 0.75 3 Month Average - 20.0% Recession - 25.0% St 8 6 O S! 8 6 O St Source: The Conference Board 0.50 0.25 41° 0.00 -0.25 - 0.50 - 0.75 - 1.00 Recession ostA, a° � a° 9 �9 a:O 'O 'O 1 a° 1 C3 -goes� St cP 6 O Q 6 O St Source: Federal Reserve Bank of Chicago The Conference Board's Leading Economic Index (LEI) remained in negative territory at -0.2% in August, improving from -0.6% in July. The index dropped 5.0% year -over -year. The improvement can be attributed to a decrease in the yield curve inversion, an increase in building permits, and stock market performance. The Chicago Fed National Activity Index (CFNAI) increased to 0.12 in August from a downwardly revised -0.42 in July, which was above consensus expectations. The three-month moving average fell to -0.17 in August from -0.13 in July, indicating below -trend growth expectations for the economy. 8 13 In Thousands of Units HOUSING 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 YOY (%) Change q4 94 q� �� -I -9 q� -T4 -To qo as as as as e g g e: as as as ov 06 09 10 1,) 14 '16 'lc9 s)0 cc) c)Q Source: US Department of Commerce 24.0% 20.0% 16.0% 12.0% 8.0% 4.0% 0.0% -4.0% -8.0% - 12.0% - 16.0% -20.0% C'MCHANDLER ASSET MANAGEMENT S&P/Case-Shiller 20 City Composite Home Price Index • '0'006 0, 10 Source: S&P 1) 1Q 16 1e • c)0 c)c) Housing starts surprised to the upside on a month -over -month basis in August, increasing 9.6% to 1.356 million units versus the previous decline of 6.9% the prior month. Starts were led by the single-family home sector. Total starts were up 3.9% year -over -year. The Freddie Mac average rate for a 30-year fixed mortgage edged down to 6.35% in August from 6.85% in July. According to the Case-Shiller 20-City Home Price Index, housing prices rose 5.9% year -over -year in July, decelerating from 6.5% reported in the previous month. Although the trend is gradually improving, tight inventories and higher mortgage rates continue to impact affordability. sc).57 9 14 SURVEY BASED MEASURES 70 65 60 55 50 45 40 Institute of Supply Management (ISM) Surveys ISM Manufacturing ISM Services • • • C'MCHANDLER ASSET MANAGEMENT • SP <) 4i ✓4 so 6o 4 ✓e/ se <) ✓4 sP 60 ✓� s� <) ✓4 sP 619 Z9 d,<�o r7' o ,6�0 c,�o d,•� j �J Z bZ c�Z dr�2 �� ,6�� dr� �.i' 6��' c�.i' d��g -St ,6�4 Source: Institute for Supply Management The Institute for Supply Management (ISM) Manufacturing index contracted at a slower rate of 47.2 in September compared to 47.5 in August. Demand remains subdued and companies are continuing to reduce head counts through layoffs, attrition and hiring freezes. The ISM Services Index increased to 54.9 in September, increasing from 51.7 in August, due stronger production and new orders. A reading over 50 indicates expansion, while a reading under 50 indicates contraction. 15 10 GROSS DOMESTIC PRODUCT (GDP) Components of GDP Personal Consumption Expenditures 1.7% 2.3% 1.3% 1.9% Gross Private Domestic Investment 1.8% 0.2% 0.6% 1.5% Net Exports and Imports -0.1% 0.1% -0.6% -0.9% Federal Government Expenditures 0.3% 0.0% 0.0% 0.3% State and Local (Consumption and Gross Investment) 0.6% 0.6% 0.3% 0.3% Total 4.4% 3.2% 1.6% 3.0% Source: US Department of Commerce 40.0% 30.0% 20.0% 10.0% 0.0% - 10.0% - 20.0% - 30.0% - 40.0% C'MCHANDLER ASSET MANAGEMENT Gross Domestic Product (GDP) d 4/2 hoc �4�7 Source: US Department of Commerce GDP QOQ % Change GDP YOY % Change According to the third estimate, second quarter GDP increased at an annualized rate of 3.0%, unchanged from the prior estimate. Growth continues to be powered by personal consumption expenditures. Gross fixed investment, government consumption expenditures, and inventories also had positive contributions, with a negative offset by net exports. The consensus projection calls for 2.0% growth in the third quarter and 2.6% growth for the full year 2024. 16 11 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 S' 3- SP ,.is J' s' SP SP S� .Ss S' �o � :off � s ,61 , .61 ,b1 ,b1 :0, :0, ,b � St 6, 8 O St 6 S O 1, Source: Federal Reserve 6.00% 5.00% 4.00% 7 v 3.00% 2.00% 1.00% 0.00% Ss .S' Ss J J S0S0S0S� SoSs b0 'bo 'b0 a1 a1a1 a1 .01 S a� a� 7 6 S O 4 6 8 O Sl C'MCHANDLER ASSET MANAGEMENT Effective Federal Funds Rate 1 • Recession Source: Bloomberg The Federal Open Market Committee (FOMC) delivered the first rate cut of the easing cycle at the September meeting. Although a reduction in the Fed Funds Rate was widely anticipated, the magnitude was somewhat of a surprise, as market participants were split between whether the FOMC would cut by 25 basis points or 50 basis points. Chair Jerome Powell reiterated previous statements acknowledging that monetary policy has shifted into a more balanced approach addressing price stability and full employment in tandem. The Fed released the quarterly Summary of Economic Projections (SEP) which now forecasts a substantially lower median Fed Funds Rate expectation among Fed Governors in 2025 to 3.1 — 3.6%. 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 $1.8T to approximately $7.1T. 17 12 BOND YIELDS 6.0 C'MCHANDLER ASSET MANAGEMENT US Treasury Note Yields US Treasury Yield Curve 6.0% 5.0 % 4.0 % 3.0 % 2.0 1.0 0.0 • 2-Year 5.0 % 5-Year 10-Year 4.0 v 3.0 >- 2.0% 1.0% 0.0 J' 4idr, SPA` �ar SPp` /J ar SPp` /j ar S630 47 SPp` ' �p 0 C)1 s),7 �� c)� cp0) 0 Source: Bloomberg a16 Syr Syr Syr 0, Source: Bloomberg Sep-24 Jun-24 Sep-23 At the end of September, the 2-year Treasury yield was 140 basis points lower, and the 10-Year Treasury yield was 79 basis points lower, year -over -year. The 2-year and 10-year Treasury yield points on the curve began to normalize to +14 basis points at September month -end versus -2 basis points at August month -end. The yield curve inversion which began in July 2022 was historically long. The average historical spread (since 2003) is about +110 basis points. The inversion between 3-month and 10-year Treasuries tightened to -85 basis points in September from -121 basis points in August. 18 13 GUCHANDLER ASSET MANAGEMENT ACCOUNT PROFILE 19 14 OBJECTIVES City of Dublin I As of September 30, 2024 CMCHANDLER 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. 20 15 STATEMENT OF COMPLIANCE City of Dublin I Account #10198 I As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Rules Name Limit Actual Compliance Status Notes AGENCY MORTGAGE SECURITIES (CMOS) Max % (MV) Max % Issuer (MV) Max Maturity (Years) 20.0 20.0 5.0 3.9 Compliant 3.9 Compliant 4.3 Compliant ASSET -BACKED SECURITIES (ABS) Max % (MV; Non Agency ABS & MBS) 20.0 11.2 Compliant Max % Issuer (MV) 5.0 1.0 Compliant Max Maturity (Years) 5 4 Compliant Min Rating (AA- by 1) 0.0 0.0 Compliant BANKERS' ACCEPTANCES Max % (MV) Max % Issuer (MV) 40.0 0.0 Compliant 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) Max % Issuer (MV) 25.0 0.0 Compliant 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) Max % Issuer (MV) 30.0 26.0 Compliant 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) Max % Issuer (MV) 100.0 7.0 Compliant 35.0 2.9 Compliant Max Callables (MV) 25.0 0.0 Compliant Max Maturity (Years) 5 3 Compliant 16 21 STATEMENT OF COMPLIANCE City of Dublin 1 Account #10198 1 As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Rules Name Limit Actual Compliance Status Notes LOCAL AGENCY INVESTMENT FUND (LAIF) Max Concentration (MV) MONEY MARKET MUTUAL FUNDS Max % (MV; Money Market Fund & Mutual Fund) 20.0 Max % Issuer (MV) Min Rating (AAA by 2) 0.0 MORTGAGE -BACKED SECURITIES (NON -AGENCY) Max % (MV) 75.0 0.0 0.7 20.0 20.0 Compliant Compliant 0.7 Compliant 0.0 Compliant 0.0 Compliant Max % Issuer (MV) 5.0 0.0 Compliant Max Maturity (Years) 5.0 0.0 Compliant Min Rating (AA- by 1) MUNICIPAL SECURITIES (ALL STATES) Max % Issuer (MV) Max Maturity (Years) 0.0 0.0 Compliant 5.0 0.0 Compliant 5.0 0.0 Compliant Min Rating (A- by 1) MUTUAL FUNDS Max % (MV; Money Market Fund & Mutual Fund) 0.0 0.0 Compliant 20.0 0.7 Compliant Max % Issuer (MV) 10.0 0.0 Compliant Min Rating (AAA by 2) NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD) Max % (MV) Max % Issuer (MV) 0.0 0.0 Compliant 30.0 0.0 Compliant 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) SUPRANATIONAL OBLIGATIONS Max % (MV) Max % Issuer (MV) 0.0 0.0 Compliant 30.0 9.0 Compliant 10.0 4.3 Compliant Max Maturity (Years) 5 4 Compliant Min Rating (AA- by 1) 0.0 0.0 Compliant 17 22 STATEMENT OF COMPLIANCE City of Dublin I Account #10198 I As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Rules Name Limit Actual Compliance Status Notes TIME DEPOSITS Max % (MV) 10.0 0.0 Compliant Max % Issuer (MV) Max Maturity (Years) 5.0 0.0 Compliant 1.0 0.0 Compliant U.S. TREASURIES Max % (MV) 100.0 42.2 Compliant Max Maturity (Years) 5 4 Compliant 18 23 PORTFOLIO CHARACTERISTICS City of Dublin I Account #10198 I As of September 30, 2024 Benchmark* 9/30/2024 6/30/2024 Portfolio Portfolio Average Maturity (yrs) Average Modified Duration Average Purchase Yield 2.69 3.07 3.03 2.52 2.61 2.57 3.56% 3.32% Average Market Yield Average Quality** 3.66% 3.89% 4.84% AA+ AA AA Total Market Value 303,495,281 293,298,557 *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 19 24 SECTOR DISTRIBUTION City of Dublin I Account #10198 I As of September 30, 2024 so% 25% 0% M 1 1 B CM CHANDLER ASSET MANAGEMENT US Treasury Corporate ABS Supras Agency Agency CMBS Money Mkt Fd Cash 09/30/2024 • 06/30/2024 Sector as a Percentage of Market Value Sector 09/30/2024 US Treasury 42.16% 40.80% Corporate 26.01% 26.08% ABS 11.26% 10.69% Supras 8.96% 9.03% Agency 6.96% 10.19% Agency CMBS 3.93% 2.93% Money Mkt Fd 0.72% 0.12% Cash 0.00% 0.15% 25 20 ISSUERS City of Dublin I Account #10198 I As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Issuer Investment Type % Portfolio United States US Treasury 42.16% International Bank for Recon and Dev Supras 4.30% Inter -American Development Bank Supras 4.11% FHLMC Agency CMBS 3.93% Federal Home Loan Banks Agency 2.87% FNMA Agency 1.80% Chase Issuance Trust ABS 1.69% UnitedHealth Group Incorporated Corporate 1.49% Bank of Montreal Corporate 1.47% John Deere Owner Trust ABS 1.43% FHLMC Agency 1.41% Bank of America Corporation Corporate 1.39% Deere & Company Corporate 1.35% The Toronto -Dominion Bank Corporate 1.35% Toyota Motor Corporation Corporate 1.29% Royal Bank of Canada Corporate 1.18% Merck & Co., Inc. Corporate 1.17% Caterpillar Inc. Corporate 1.14% JPMorgan Chase & Co. Corporate 1.14% QUALCOMM Incorporated Corporate 0.99% Amazon.com, Inc. Corporate 0.91% Tennessee Valley Authority Agency 0.89% Northwestern Mutual Global Funding Corporate 0.83% Honeywell International Inc. Corporate 0.81% Guardian Life Global Funding Corporate 0.80% MERCEDES-BENZ AUTO RECEIVABLES TRUST ABS 0.80% Honda Motor Co., Ltd. Corporate 0.79% Morgan Stanley Corporate 0.77% BMW Vehicle Owner Trust ABS 0.76% Realty Income Corporation Corporate 0.75% 26 21 ISSUERS City of Dublin I Account #10198 I As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Issuer Investment Type % Portfolio Berkshire Hathaway Inc. Corporate 0.74% American Express Credit Master Trust ABS 0.73% First American Govt Oblig fund Money Mkt Fd 0.72% GM Financial Automobile Leasing Trus ABS 0.69% Walmart Inc. Corporate 0.68% Hyundai Auto Receivables Trust ABS 0.64% The Home Depot, Inc. Corporate 0.64% GM Financial Securitized Term ABS 0.64% Toyota Lease Owner Trust 2024-B ABS 0.64% The Charles Schwab Corporation Corporate 0.62% Honda Auto Receivables 2024-3 Owner ABS 0.62% Honda Auto Receivables Owner Trust ABS 0.60% Metropolitan Life Global Funding I Corporate 0.59% International Finance Corporation Supras 0.55% Cisco Systems, Inc. Corporate 0.54% AbbVie Inc. Corporate 0.51% Bank of America Credit Card Trust ABS 0.50% BNY Mellon Corp Corporate 0.49% Target Corporation Corporate 0.43% U.S. Bancorp Corporate 0.42% Met Tower Global Funding Corporate 0.40% Toyota Lease Owner Trust ABS 0.34% Toyota Auto Receivables Owner Trust ABS 0.33% Dominion Energy, Inc. Corporate 0.33% Hyundai Auto Receivables Trust 2024- ABS 0.28% Hyundai Auto Lease Securitization Tr ABS 0.26% Mercedes-Benz Auto Lease Trust ABS 0.26% BMW Vehicle Lease Trust ABS 0.06% Cash Cash 0.00% TOTAL 100.00% 27 22 QUALITY DISTRIBUTION City of Dublin I Account #10198 I As of September 30, 2024 S&P Rating 80% 60% 40% 20% 0% II AAA II II A BBB NR 09/30/2024 06/30/2024 Rating 09/30/2024 06/30/2024 AAA 19.2% 18.5% AA 57.1% 58.2% A 20.2% _ CM CHANDLER ASSET MANAGEMENT Moody's Rating Fitch Rating 75% 50% 25% 0% 09/30/2024 06/30/2024 Rating 09/30/2024 06/30/2024 AAA 69.3% 69.1% AA 3.2% 2.7% 20.9% A BBB 0.3% 22.0% 75% 50% 25% 0% 09/30/2024 06/30/2024 II NR Rating 09/30/2024 06/30/2024 AAA 12.9% 11.4% AA 60.0% 61.0% 22.6% A 0.3% NR NR 3.2% 2.2% 5.5% 10.8 % 11.7% 5.5% NR 16.3% 15.9% 23 28 DURATION DISTRIBUTION City of Dublin 1 Account #10198 1 As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Portfolio Compared to the Benchmark 40% 30% 20% 10% 0% S 0-.25 .25-.5 .5-1 1 1-2 2-3 3-4 I 4-5 5-7 • City of Dublin ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index 7+ 0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+ Portfolio 1.6% 9.5% ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index 0.1% 0.1% 2.2% 18.3% 23.7% 37.3% 34.9% 26.8% 22.5% 8.5% 0.0% 0.0% 13.4% 0.0% 0.0% 24 29 INVESTMENT PERFORMANCE City of Dublin 1 Account #10198 1 As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Total Rate of Return : Inception 1 11/01/2013 10% 7.5% 5% 2.5 % o% 3 Months 12 Months 2 Years 3 Years Total Return Benchmark 5 Years 10 Years Since Inception* 3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception TOTAL RATE OF RETURN City of Dublin 3.48% 8.00% 5.26% 1.25% 1.65% 1.74% 1.64% Benchmark 3.37% 7.44% 4.75% 0.76% 1.28% 1.46% 1.38% *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 portfolio's performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending market value; it includes interest earnings, realized and unrealized gains and losses in the portfolio. 30 25 PORTFOLIO CHARACTERISTICS City of Dublin Reporting Account I Account #10219 I As of September 30, 2024 9/30/2024 6/30/2024 Portfolio Portfolio Average Maturity (yrs) Average Modified Duration Average Purchase Yield 0.00 0.00 0.00 0.00 4.96% Average Market Yield Average Quality** 5.26% 4.96% 5.26% MA AAA Total Market Value 134,625,755 141,849,410 *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 26 31 SECTOR DISTRIBUTION City of Dublin Reporting Account I Account #10219 I As of September 30, 2024 100% 50% 0% LGIP LAIF 09/30/2024 06/30/2024 CM CHANDLER ASSET MANAGEMENT Cash Sector as a Percentage of Market Value Sector 09/30/2024 06/30/2024 LGIP 79.42% 80.70% LAIF 20.35% 19.10% Cash 0.23% 0.21% 32 27 ISSUERS City of Dublin Reporting Account I Account #10219 I As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Issuer Investment Type % Portfolio California Asset Mgmt Program LGIP 79.42% LAIF LAIF 20.35% Cash Cash 0.23% TOTAL 100.00% 33 28 GUCHANDLER ASSET MANAGEMENT CONSOLIDATED INFORMATION 34 29 PORTFOLIO CHARACTERISTICS City of Dublin Cons I Account #10221 I As of September 30, 2024 9/30/2024 6/30/2024 Portfolio Portfolio Average Maturity (yrs) Average Modified Duration Average Purchase Yield 2.13 2.03 1.80 1.73 4.00% 3.96% Average Market Yield Average Quality** 4.22% 4.98% AA+ AA+ Total Market Value 438,121,036 435,147,967 *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 30 35 SECTOR DISTRIBUTION City of Dublin Cons I Account #10221 I As of September 30, 2024 40% 20% 0% US Treasury 1 LGIP H. _ 1 li 1 - CM CHANDLER ASSET MANAGEMENT Corporate ABS LAIF Supras Agency Agency CMBS Money Mkt Fd Cash 09/30/2024 06/30/2024 Sector as a Percentage of Market Value Sector 09/30/2024 06/30/2024 US Treasury 29.15% 27.44% LGIP 24.51% 26.43% Corporate 17.98% 17.54% ABS 7.78% 7.19% LAIF 6.28% 6.25% Supras 6.20% 6.07% Agency 4.81% 6.85% Agency CMBS 2.72% 1.97% Money Mkt Fd 0.50% 0.08% Cash 0.07% 0.17% 36 31 GUCHANDLER ASSET MANAGEMENT PORTFOLIO HOLDINGS 37 32 HOLDINGS REPORT City of Dublin 1 Account #10198 1 As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Cusip Security Description Purchase Mkt Par Value/ Date Cost Value Price Market Value % of Port. Units Purchase Book Value Mkt Accrued Int. Gain/Loss Yield YTM Moody's/ S&P/ Fitch Maturity Duration ABS 47788UAC6 05593AAC3 JDOT 2021 A3 0.36 09/15/2025 4,199.48 BMWLT 2023-1 A3 5.16 11/25/2025 172,859.36 03/02/2021 0.37% 4,198.67 99.81 4,199.34 5.41% 4,191.35 0.67 0.00% Aaa/NA 0.96 (7.99) AAA 0.04 02/07/2023 172,855.25 100.08 5.43% 172,857.66 4.88% 173,002.02 148.66 0.06% Aaa/AAA 1.15 144.36 NA 0.25 44934KAC8 HART 2021-B A3 0.38 01/15/2026 113,222.37 07/20/2021 113,197.38 0.60% 113,216.73 99.71 112,893.15 0.04% NA/AAA 1.29 5.49% 19.12 (323.58) AAA 0.06 43815GAC3 477890AC4 HAROT 2021-4 A3 0.88 01/21/2026 207,749.64 11/16/2021 207,705.85 0.89% 207,737.44 98.70 205,044.74 0.07% Aaa/NA 1.31 5.24% 50.78 (2,692.70) AAA 0.30 JDOT 2021-B A3 0.52 03/16/2026 204,684.01 07/13/2021 204,665.75 0.52% 204,679.07 98.83 202,286.16 0.07% Aaa/NA 1.46 4.69% 47.30 (2,392.92) AAA 0.28 44935FAD6 HART 2021-C A3 0.74 05/15/2026 128,165.07 11/09/2021 128,136.47 0.75% 128,156.35 99.08 126,984.77 0.04% NA/AAA 1.62 5.23% 42.15 (1,171.58) AAA 0.20 43815BAC4 HAROT 2022-1 A3 1.88 604,193.39 05/15/2026 02/15/2022 604,102.51 98.81 1.89% 604,161.65 4.89% 596,990.61 504.84 0.20% Aaa/AAA 1.62 (7,171.03) NA 0.39 05602RAD3 BMWOT 2022-A A3 3.21 397,337.38 08/25/2026 05/10/2022 397,316.71 3.23% 397,328.88 99.33 394,668.18 0.13% Aaa/AAA 1.90 4.75% 212.58 (2,660.70) NA 0.44 47787JAC2 JDOT 2022 A3 0.36 09/15/2026 428,434.57 03/10/2022 428,339.80 2.34% 428,396.27 98.85 423,507.01 0.14% Aaa/NA 1.96 4.69% 441.76 (4,889.26) AAA 0.49 362554AC1 GMCAR 2021-4 A3 0.68 190,738.93 09/16/2026 448977AD0 10/13/2021 190,734.06 0.68% 190,737.29 98.52 187,920.95 0.06% Aaa/AAA 1.96 4.96% 54.04 (2,816.34) NA 0.34 HART 2022-A A3 2.22 10/15/2026 509,424.62 03/09/2022 509,405.00 2.23% 509,416.75 98.90 503,819.16 0.17% NA/AAA 2.04 4.95% 502.63 (5,597.59) AAA 0.40 380146AC4 GMCAR 2022-1 A3 1.26 199,730.20 11/16/2026 01/11/2022 199,712.84 1.27% 199,723.50 98.64 197,018.12 0.07% NA/AAA 2.13 4.79% 104.86 (2,705.38) MA 0.38 362585AC5 GMCAR 2022-2 A3 3.1 469,291.49 02/16/2027 47800AAC4 04/05/2022 469,193.41 3.13% 469,247.36 99.15 465,322.23 0.15% Aaa/AAA 2.38 4.69% 606.17 (3,925.13) NA 0.54 JDOT 2022-B A3 3.74 02/16/2027 781,785.57 07/12/2022 781,710.90 3.77% 781,748.25 99.44 777,425.70 0.26% Aaa/NA 2.38 4.62% 1,299.50 (4,322.54) AAA 0.66 448988AD7 HALST 24A A3 5.02 03/15/2027 785,000.00 01/17/2024 784,851.24 100.81 5.03% 784,883.82 4.45% 36269FAD8 GMALT 2024-1 A3 5.09 995,000.00 03/22/2027 791,366.59 1,751.42 0.26% NA/AAA 2.45 6,482.76 AAA 1.30 02/08/2024 994,875.63 101.00 1,004,969.00 0.33% NA/AAA 2.47 5.09% 994,900.81 4.40% 1,547.50 10,068.19 AAA 1.34 33 38 HOLDINGS REPORT City of Dublin 1 Account #10198 1 As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Cusip Security Description Purchase Mkt Par Value/ Date Cost Value Price Market Value % of Port. Units Purchase Book Value Mkt Accrued Int. Gain/Loss Yield YTM Moody's/ S&P/ Fitch Maturity Duration 89238GAD3 02582JJT8 TLOT 2024-A A3 5.25 04/20/2027 1,000,000.00 AMXCA 2022-2 A 3.39 05/17/2027 2,205,000.00 02/21/2024 5.25% 999,957.80 999,965.78 101.41 4.33% 1,014,131.80 1,604.17 NA/AAA 14,166.02 AAA 0.34% 2.55 1.44 05/17/2022 2,204,512.25 3.42% 2,204,856.14 99.28 2,189,126.21 0.73% NA/AAA 0.62 4.61% 3,322.20 (15,729.94) AAA 0.60 47800BAC2 JDOT 2022-C A3 5.09 06/15/2027 1,212,808.73 10/12/2022 5.15% 1,212,714.62 1,212,755.08 100.44 1,218,205.13 0.40% Aaa/NA 2.71 4.58% 2,743.64 5,450.05 AAA 0.79 36269WAD1 58768PAC8 GMALT 2024-2 A3 5.39 07/20/2027 1,055,000.00 05/07/2024 5.85% 1,054,938.71 1,054,946.00 101.83 4.31% 1,074,306.18 1,737.53 0.36% NA/AAA 2.80 19,360.18 AAA 1.59 MBART 2022-1 A3 5.21 08/16/2027 2,396,536.99 11/15/2022 2,396,062.95 5.28% 2,396,253.67 100.50 2,408,551.31 0.80% Aaa/AAA 2.88 4.50% 5,549.31 12,297.64 NA 0.65 891943AD4 TLOT 2024-B A3 4.2109/20/2027 1,925,000.00 09/10/2024 1,924,774.78 100.05 4.25% 1,924,777.65 4.22% 1,926,036.42 3,151.65 0.64% Aaa/NA 2.97 1,258.77 AAA 1.97 58770JAD6 MBALT 2024-A A3 5.32 765,000.00 01/18/2028 362583AD8 GMCAR 2023-2 A3 4.47 625,000.00 02/16/2028 05/17/2024 5.73% 764,910.50 764,919.28 102.19 4.33% 781,773.70 1,808.80 0.26% Aaa/NA 3.30 16,854.41 AAA 2.06 04/04/2023 4.51% 624,982.81 624,988.03 100.13 4.38% 625,841.25 1,164.06 0.21% Aaa/AAA 3.38 853.22 NA 1.05 05592XAD2 BMWOT 2023-A A3 5.47 550,000.00 02/25/2028 07/11/2023 549,902.54 101.24 556,817.31 0.18% NA/AAA 3.41 5.47% 549,928.08 4.43% 501.42 6,889.23 AAA 1.12 89239FAD4 TAOT 2023-D A3 5.54 08/15/2028 980,000.00 161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 3,090,000.00 11/07/2023 979,894.36 102.33 1,002,878.30 0.33% NA/AAA 3.88 6.30% 979,913.96 4.19% 2,412.98 22,964.34 AAA 1.64 09/07/2023 3,089,143.45 102.17 3,157,066.60 1.05% NR/AAA 3.96 5.17% 3,089,322.54 4.04% 7,086.40 67,744.05 AAA 1.82 47800RAD5 JDOT 2024 A3 4.9611/15/2028 550,000.00 03/11/2024 549,969.20 101.66 559,142.54 0.19% Aaa/NA 4.13 5.12% 549,972.75 4.20% 1,212.44 9,169.79 AAA 2.04 437930AC4 H O N DO-242-A3 5.27 11/20/2028 1,000,000.00 05/14/2024 999,878.50 102.19 1,021,893.00 0.34% NA/AAA 4.14 5.27% 999,888.33 4.16% 1,903.06 22,004.67 AAA 1.86 36268GAD7 GMCAR 2024-1 A3 4.85 445,000.00 12/18/2028 01/09/2024 444,910.51 101.27 450,641.18 0.15% Aaa/NA 4.22 4.91% 444,923.36 4.18% 899.27 5,717.82 AAA 1.74 161571HV9 CHAIT 241 A 4.6 01/16/2029 1,910,000.00 01/24/2024 1,909,709.11 101.28 1,934,392.99 0.64% NR/AAA 4.30 4.61% 1,909,748.28 4.05% 3,904.89 24,644.71 AAA 2.13 448973AD9 HART 2024-A A3 4.99 02/15/2029 1,170,000.00 096919AD7 BMWOT 2024-A A3 5.18 1,305,000.00 02/26/2029 03/11/2024 1,169,742.02 101.69 1,189,772.88 0.39% NA/AAA 4.38 5.05% 1,169,770.08 4.14% 2,594.80 20,002.81 AAA 1.85 06/04/2024 1,304,801.77 102.19 1,333,609.12 0.44% Aaa/AAA 4.41 5.24% 1,304,814.67 4.05% 1,126.65 28,794.45 NA 1.84 34 39 HOLDINGS REPORT City of Dublin 1 Account #10198 1 As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Cusip Security Description Purchase Mkt Par Value/ Date Cost Value Price Market Value % of Port. Units Purchase Book Value Mkt Accrued Int. Gain/Loss Yield YTM Moody's/ S&P/ Fitch Maturity Duration 44934QAD3 47786WAD2 HART 2024-B A3 4.84 03/15/2029 825,000.00 JDOT 2024-B A3 5.2 03/15/2029 1,110,000.00 07/16/2024 4.90% 824,875.51 824,880.58 101.71 4.12% 839,074.83 1,774.67 0.28% NA/AAA 14,194.25 AAA 4.45 2.19 06/11/2024 1,109,783.00 102.53 1,138,078.23 5.26% 1,109,796.16 4.20% 2,565.33 0.38% Aaa/NA 4.45 28,282.06 AAA 2.36 43813YAC6 HAROT 2024-3 A3 4.57 03/21/2029 1,845,000.00 08/09/2024 1,844,710.15 100.97 1,862,821.22 0.62% Aaa/NA 4.47 4.62% 1,844,717.25 4.15% 2,342.13 18,103.97 AAA 2.07 05522RDJ4 Total ABS AGENCY BACCT 2024-1 A 4.93 03/15/2029 1,480,000.00 33,636,161.78 06/06/2024 1,479,916.97 102.32 1,514,351.24 0.50% Aaa/AAA 4.45 4.93% 1,479,922.23 4.03% 3,242.84 34,429.01 NA 2.41 33,631,092.99 4.64% 33,632,451.07 100.99 33,965,921.18 11.26% Aaa/AAA 3.25 4.33% 59,982.24 333,470.11 AAA 1.47 3137EAEU9 FEDERAL HOME LOAN MORTGAGE 1,745,000.00 CORP 0.375 07/21/2025 07/21/2020 1, 736, 309.90 0.48% 1,743,604.06 97.12 1,694,828.35 0.56% Aaa/AA+ 0.80 4.04% 1,272.40 (48,775.70) AA+ 0.79 3135G05X7 FEDERAL NATIONAL MORTGAGE 2,755,000.00 ASSOCIATION 0.375 08/25/2025 08/25/2020 2,742,106.60 0.47% 2,752,681.45 96.87 2,668,643.12 0.88% Aaa/AA+ 0.90 3.95% 1,033.13 (84,038.33) AA+ 0.88 3137EAEX3 FEDERAL HOME LOAN MORTGAGE 2,655,000.00 CORP 0.375 09/23/2025 09/23/2020 2,647,008.45 0.44% 2,653,435.86 96.53 2,562,961.32 0.85% Aaa/AA+ 0.98 4.03% 221.25 (90,474.54) AA+ 0.96 3135G06G3 FEDERAL NATIONAL MORTGAGE 2,860,000.00 ASSOCIATION 0.5 11/07/2025 11/09/2020 2,849,761.20 0.57% 2,857,739.71 96.23 2,752,084.48 0.91% Aaa/AA+ 1.10 4.04% 5,720.00 (105,655.23) AA+ 1.07 3130ATUC9 FEDERAL HOME LOAN BANKS 4.5 4,000,000.00 12/12/2025 3130ATS57 FEDERAL HOME LOAN BANKS 4.5 3,000,000.00 03/10/2028 880591EZ1 TENNESSEE VALLEY AUTHORITY 2,645,000.00 3.875 03/15/2028 3130AWMN7 Total Agency AGENCY CMBS FEDERAL HOME LOAN BANKS 4.375 06/09/2028 02/09/2023 4,029,238.40 100.73 4,029,298.20 1.34% Aaa/AA+ 1.20 4.22% 4,012,333.19 3.86% 54,500.00 16,965.01 AA+ 1.14 03/21/2023 3,065,010.00 102.91 3,087,373.65 1.02% Aaa/AA+ 3.44 4.01% 3,044,987.64 3.59% 7,875.00 42,386.01 AA+ 3.17 2,661,791.35 3.73% 2,656,871.39 100.99 2,671,297.81 0.89% Aaa/AA+ 3.46 3.57% 4,555.28 14,426.42 AA+ 3.21 1,500,000.00 21,160,000.00 07/26/2023 1,506,615.00 102.57 1,538,522.21 0.51% Aaa/AA+ 3.69 4.27% 1,505,008.66 3.62% 20,416.67 33,513.55 AA+ 3.35 21,237,840.90 2.41% 21,226,661.94 99.34 21,005,009.13 6.96% Aaa/AA+ 1.89 3.84% 95,593.72 (221,652.81) AA+ 1.77 35 40 HOLDINGS REPORT City of Dublin 1 Account #10198 1 As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Cusip Security Description Purchase Mkt Par Value/ Date Cost Value Price Market Value % of Port. Units Purchase Book Value Mkt Accrued Int. Gain/Loss Yield YTM Moody's/ S&P/ Fitch Maturity Duration 3137BFE98 FHMS K-041 A2 3.171 10/25/2024 651,167.00 07/01/2021 0.66% 700,462.38 651,167.00 99.66 3.17% 648,983.12 1,720.71 0.22% Aaa/AA+ (2,183.88) AAA 0.07 0.23 3137BSRE5 FHMS K-059 A2 3.12 09/25/2026 2,000,000.00 02/18/2022 2,085,625.00 98.29 2.08% 2,036,325.76 3137F4D41 FHMS K-074 A2 3.6 01/25/2028 1,000,000.00 1,965,898.40 0.65% Aaa/AAA 1.99 3.98% 5,200.00 (70,427.36) AAA 1.80 07/25/2023 954,414.06 4.73% 966,557.16 99.01 990,079.40 0.33% Aaa/AA+ 3.32 3.88% 3,000.00 23,522.24 AAA 3.01 3137FG6X8 FHMS K-077 A2 3.85 05/25/2028 2,815,000.00 3137FK4M5 FHMS K-085 A2 4.06 10/25/2028 1,100,000.00 05/24/2023 2,763,318.36 4.24% 2,777,402.90 99.59 2,803,321.41 0.93% Aaa/AA+ 3.65 3.93% 9,031.46 25,918.51 AAA 3.28 10/30/2023 1,038,253.91 100.33 1,103,589.30 0.37% Aaa/AA+ 4.07 5.37% 1,049,743.15 3.93% 3,721.67 53,846.15 AA+ 3.66 3137FKUP9 FHMS K-087 A2 3.771 12/25/2028 2,500,000.00 07/01/2024 2,391,699.22 4.86% 2,397,618.77 99.26 2,481,443.25 0.82% Aaa/AAA 4.24 3.93% 7,856.25 83,824.48 AA+ 3.76 3137H5YC5 Total Agency CMBS CASH FHMS K-748 A2 2.26 01/25/2029 CCYUSD Receivable 2,000,000.00 08/26/2024 1, 855, 937.50 4.08% 1,858,935.02 93.32 1,866,316.00 0.62% Aaa/AA+ 4.32 3.97% 3,766.67 7,380.98 AAA 3.95 12,066,167.00 3.94% 10,076.22 11,789,710.43 11,737,749.76 98.34 11,859,630.88 3.93% Aaa/AA+ 3.42 3.90% 34,296.75 121,881.12 AAA 3.09 10,076.22 1.00 10,076.22 0.00% Aaa/AAA 0.00 0.00% 10,076.22 0.00% 0.00 0.00 AAA 0.00 Total Cash 10,076.22 1.00 10,076.22 0.00% Aaa/AAA 0.00 10,076.22 0.00% 10,076.22 0.00% 0.00 0.00 AAA 0.00 CORPORATE 747525AF0 QUALCOMM INC 3.45 05/20/2025 3,000,000.00 1.61% 3,159,848.58 3,021,020.86 99.43 2,982,939.03 0.99% A2/A 0.64 4.36% 37,662.50 (38,081.83) NA 0.61 438516CB0 HONEYWELL INTERNATIONAL INC 2,500,000.00 1.35 06/01/2025 06/23/2020 2,559,500.00 0.85% 2,507,122.53 98.12 2,452,893.30 0.81% A2/A 0.67 4.24% 11,250.00 (54,229.23) A 0.65 78015K7H1 ROYAL BANK OF CANADA 1.15 1,000,000.00 06/10/2025 02/22/2021 1,012,240.00 0.86% 1,001,968.40 97.71 977,097.88 0.32% A1/A 0.69 4.55% 3,545.83 (24,870.52) AA- 0.67 66815L2J7 NORTHWESTERN MUTUAL 2,500,000.00 GLOBAL FUNDING 4.0 07/01/2025 06/27/2022 2,499,150.00 4.01% 2,499,788.27 99.65 2,491,241.40 0.83% Aaa/AA+ 0.75 4.47% 25,000.00 (8,546.87) AAA 0.72 36 41 HOLDINGS REPORT City of Dublin 1 Account #10198 1 As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Cusip Security Description Purchase Mkt Par Value/ Date Cost Value Price Market Value % of Port. Units Purchase Book Value Mkt Accrued Int. Gain/Loss Yield YTM Moody's/ S&P/ Fitch Maturity Duration 02665WDL2 AMERICAN HONDA FINANCE CORP 1.2 07/08/2025 1,000,000.00 89114QCK2 TORONTO-DOMINION BANK 0.75 09/11/2025 06051GHY8 1,000,000.00 08/10/2021 1.00% 1,007,640.00 1,001,500.14 97.57 4.45% 975,670.31 2,766.67 0.32% A3/A- (25,829.83) A 0.77 0.75 02/16/2021 997,230.00 0.81% 999,426.38 96.77 967,696.71 0.32% A1/A 0.95 4.28% 416.67 (31,729.67) AA- 0.92 BANK OF AMERICA CORP 2.015 02/13/2026 1,250,000.00 03/04/2021 1,291,725.00 1.15% 1,253,917.16 98.86 1,235,795.96 0.41% A1/A- 1.37 5.43% 3,358.33 (18,121.20) AA- 0.36 46647PBH8 JPMORGAN CHASE & CO 2.005 03/13/2026 808513BR5 CHARLES SCHWAB CORP 1.15 05/13/2026 1,000,000.00 1,370,000.00 04/29/2021 1,030,270.00 1.21% 1,003,491.87 98.67 986,660.93 0.33% A1/A- 1.45 5.85% 1,002.50 (16,830.94) AA- 0.44 05/11/2021 1,366,821.60 1.20% 1,368,974.77 95.32 1,305,895.52 0.43% A2/A- 1.62 4.17% 6,039.42 (63,079.24) A 1.57 91324PEC2 UNITEDHEALTH GROUP INC 1.15 05/15/2026 2,000,000.00 1.90% 1,939,210.15 1,976,589.17 95.60 1,912,085.86 0.63% A2/A+ 1.62 3.97% 8,688.89 (64,503.31) A 1.57 89236TJK2 TOYOTA MOTOR CREDIT CORP 2,485,000.00 1.125 06/18/2026 06/15/2021 2,483,906.60 1.13% 2,484,625.76 95.34 2,369,187.35 0.79% A1/A+ 1.71 3.96% 7,998.59 (115,438.41) A+ 1.66 58989V2D5 MET TOWER GLOBAL FUNDING 1,285,000.00 1.25 09/14/2026 09/07/2021 1,283,817.80 1.27% 1,284,538.39 94.65 1,216,275.30 0.40% Aa3/AA- 1.96 4.13% 758.51 (68,263.09) AA- 1.89 06368FAC3 BANK OF MONTREAL 1.25 2,500,000.00 2,495,539.50 94.67 09/15/2026 1.29% 2,498,255.86 4.11% 2,366,811.05 0.78% A2/A- 1.96 1,388.89 (131,444.81) AA- 1.90 931142ER0 WALMART INC 1.05 09/17/2026 585,000.00 09/08/2021 583,894.35 94.97 1.09% 584,566.46 3.74% 555,549.72 238.88 0.18% Aa2/AA 1.96 (29,016.74) AA 1.91 59217GER6 METROPOLITAN LIFE GLOBAL 1,860,000.00 FUNDING 1 1.875 01/11/2027 01/03/2022 1,857,879.60 1.90% 1,859,033.86 95.34 1,773,351.77 0.59% Aa3/AA- 2.28 4.04% 7,750.00 (85,682.09) AA- 2.19 87612EBM7 TARGET CORP 1.95 01/15/2027 1,340,000.00 01/19/2022 1,337,722.00 1.99% 1,338,951.90 96.06 1,287,197.74 0.43% A2/A 2.29 3.76% 5,516.33 (51,754.15) A 2.20 808513BY0 CHARLES SCHWAB CORP 2.45 585,000.00 03/03/2027 084664CZ2 BERKSHIRE HATHAWAY FINANCE 2,295,000.00 CORP 2.3 03/15/2027 03/01/2022 584,368.20 96.04 2.47% 584,694.48 4.19% 561,823.11 1,114.75 0.19% A2/A- 2.42 (22,871.37) A 2.31 03/07/2022 2,294,563.95 2.30% 2,294,786.27 96.79 2,221,345.58 0.74% Aa2/AA 2.45 3.68% 2,346.00 (73,440.69) A+ 2.35 40139LBF9 GUARDIAN LIFE GLOBAL FUNDING 765,000.00 3.246 03/29/2027 03/24/2022 765,000.00 3.25% 765,000.00 98.02 749,880.71 0.25% Aa1/AA+ 2.49 4.09% 137.96 (15,119.29) NA 2.37 023135CF1 AMAZON.COM INC 3.3 1,750,000.00 04/13/2027 04/25/2022 1,746,972.50 3.34% 1,748,456.18 98.72 1,727,650.02 0.57% A1/AA 2.53 3.83% 26,950.00 (20,806.16) AA- 2.37 46647PCB0 JPMORGAN CHASE & CO 1.578 500,000.00 04/22/2027 08/23/2022 449,845.00 4.64% 478,054.09 95.80 478,984.64 0.16% A1/A- 2.56 4.92% 3,484.75 930.54 AA- 1.50 37 42 HOLDINGS REPORT City of Dublin 1 Account #10198 1 As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Cusip Security Description Purchase Mkt Par Value/ Date Cost Value Price Market Value % of Port. Units Purchase Book Value Mkt Accrued Int. Gain/Loss Yield YTM Moody's/ S&P/ Fitch Maturity Duration 927804GH1 14913R3A3 VIRGINIA ELECTRIC AND POWER CO 3.75 05/15/2027 CATERPILLAR FINANCIAL SERVICES CORP 3.6 08/12/2027 1,000,000.00 1,375,000.00 3.75% 999,773.40 99.23 999,865.74 4.06% 992,289.52 14,166.67 0.33% A2/BBB+ (7,576.22) A 2.62 2.44 1,357,243.75 3.89% 1,364,674.15 99.38 3.83% 1,366,422.41 6,737.50 0.45% A2/A 1,748.26 A+ 2.68 2.87 931142EX7 WALMART INC 3.95 09/09/2027 1,500,000.00 1,498,302.30 3.97% 1,499,002.39 100.69 1,510,349.48 0.50% Aa2/AA 2.94 3.70% 3,620.83 11,347.08 AA 2.67 89236TKJ3 TOYOTA MOTOR CREDIT CORP 4.55 09/20/2027 023135CP9 AMAZON.COM INC 4.55 12/01/2027 89115A2M3 1,500,000.00 11/22/2022 1,479, 060.00 4.88% 1,487,102.87 101.61 1,524,139.98 0.51% A1/A+ 2.97 3.97% 2,085.42 37,037.11 A+ 2.75 1,000,000.00 01/17/2023 1,014,400.00 4.21% 1,009,281.28 102.09 1,020,872.46 0.34% A1/AA 3.17 3.84% 15,166.67 11,591.18 AA- 2.82 TORONTO-DOMINION BANK 5.156 01/10/2028 3,000,000.00 756109AU8 REALTY INCOME CORP 3.65 960,000.00 01/15/2028 24422EWR6 JOHN DEERE CAPITAL CORP 4.75 2,000,000.00 01/20/2028 2,984,380.00 103.00 3,089,945.67 1.02% A1/A 3.28 5.28% 2,988,822.00 4.17% 34,803.00 101,123.67 AA- 2.96 04/10/2023 910,540.80 98.18 942,550.30 0.31% A3/A- 3.29 4.87% 925,842.15 4.25% 7,397.33 16,708.15 WR 3.04 01/23/2023 2,030,780.00 102.40 2,047,986.34 0.68% A1/A 3.31 4.40% 2,020,384.78 3.97% 18,736.11 27,601.56 A+ 3.01 06051GGF0 BANK OF AMERICA CORP 3.824 3,000,000.00 01/20/2028 06368LGV2 BANK OF MONTREAL 5.203 2,000,000.00 02/01/2028 91324PEP3 UNITEDHEALTH GROUP INC 5.25 1,500,000.00 02/15/2028 2,824,349.55 5.54% 2,894,629.98 98.92 2,967,541.02 0.98% A1/A- 3.31 4.94% 22,625.33 72,911.04 AA- 2.16 08/17/2023 1,972,380.00 103.12 2,062,376.92 0.68% A2/A- 3.34 5.56% 1,979,297.75 4.19% 17,343.33 83,079.17 AA- 2.95 02/21/2023 1,522,890.00 104.07 1,561,003.79 0.52% A2/A+ 3.38 4.90% 1,515,383.82 3.95% 10,062.50 45,619.96 A 2.99 46647PAF3 JPMORGAN CHASE & CO 3.54 2,000,000.00 05/01/2028 08/16/2023 1,854,340.00 98.19 1,963,837.54 0.65% A1/A- 3.59 5.75% 1,898,512.04 4.81% 29,500.00 65,325.50 AA- 2.40 58933YBH7 MERCK & CO INC 4.05 05/17/2028 3,500,000.00 4.06% 3,497,960.40 3,498,521.66 100.84 3,529,461.64 1.17% A1/A+ 3.63 3.80% 52,762.50 30,939.98 NA 3.23 BANK OF NEW YORK MELLON 10/26/2023 1,395,930.00 99.51 1,492,632.45 0.49% Al/A 3.70 06406RBG1 CORP 3.992 06/13/2028 1,500,000.00 6.16% 1,422,459.19 4.65% 17,964.00 70,173.26 AA- 2.50 02665WEM9 AMERICAN HONDA FINANCE 1,370,000.00 CORP 5.125 07/07/2028 10/12/2023 1,343,288.50 103.32 1,415,426.53 0.47% A3/A- 3.77 5.60% 1,348,720.56 4.16% 16,382.92 66,705.97 A 3.37 78016HZS2 ROYAL BANK OF CANADA 5.2 2,500,000.00 08/01/2028 756109BS2 REALTY INCOME CORP 4.7 1,300,000.00 12/15/2028 09/07/2023 2,464,100.00 103.90 2,597,576.40 0.86% A1/A 3.84 5.54% 2,471,858.90 4.09% 21,666.67 125,717.50 AA- 3.43 1,285,086.00 4.98% 1,286,580.28 101.47 1,319,077.21 0.44% A3/A- 4.21 4.31% 17,990.56 32,496.93 NA 3.67 38 43 HOLDINGS REPORT City of Dublin I Account #10198 I As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Cusip Security Description Purchase Mkt Par Value/ Date Cost Value Price Market Value % of Port. Units Purchase Book Value Mkt Accrued Int. Gain/Loss Yield YTM Moody's/ S&P/ Fitch Maturity Duration 91324PEU2 UNITEDHEALTH GROUP INC 4.25 01/15/2029 1,000,000.00 24422EXH7 JOHN DEERE CAPITAL CORP 4.5 01/16/2029 2,000,000.00 01/23/2024 4.61% 984,020.00 986,218.68 100.86 4.03% 1,008,613.99 8,972.22 0.33% A2/A+ 22,395.31 A 4.29 3.79 04/18/2024 1,945,100.00 101.84 2,036,725.14 0.68% A1/A 5.16% 1,950,240.92 4.03% 18,750.00 86,484.22 A+ 4.30 3.84 91159HJK7 US BANCORP 4.653 02/01/2029 1,250,000.00 04/11/2024 1,207,450.00 100.97 1,262,098.50 0.42% A3/A 4.34 5.66% 1,212,634.54 4.71% 9,693.75 49,463.97 A 3.04 17275RBR2 14913 UAJ 9 CISCO SYSTEMS INC 4.85 02/26/2029 1,565,000.00 02/21/2024 1,564,452.25 103.42 1,618,496.74 0.54% A1/AA- 4.41 4.86% 1,564,517.61 3.99% 7,379.41 53,979.13 NA 3.86 CATERPILLAR FINANCIAL SERVICES CORP 4.85 02/27/2029 2,000,000.00 08/26/2024 2,053,700.00 103.47 2,069,397.12 0.69% A2/A 4.41 4.19% 2,052,557.45 3.98% 9,161.11 16,839.67 A+ 3.93 00287YDS5 ABBVIE INC 4.8 03/15/2029 1,500,000.00 07/22/2024 1,507,245.00 102.92 1,543,734.41 0.51% A3/A- 4.45 4.68% 1,506,940.95 4.08% 3,200.00 36,793.45 NA 3.91 61747YFD2 MORGAN STANLEY 5.164 2,250,000.00 04/20/2029 437076DC3 HOME DEPOT INC 4.75 1,875,000.00 06/25/2029 05/30/2024 2,228,212.50 102.79 2,312,686.71 0.77% A1/A- 4.55 5.44% 2,230,099.73 4.74% 51,962.75 82,586.98 A+ 3.16 07/18/2024 1,887,993.75 103.07 1,932,585.79 0.64% A2/A 4.73 4.59% 1,887,450.82 4.03% 23,750.00 45,134.97 A 4.10 40139LBJ1 GUARDIAN LIFE GLOBAL FUNDING 1,675,000.00 1,672,866.75 4.179 09/26/2029 4.21% 1,672,872.10 99.68 1,669,577.52 0.55% Aa1/AA+ 4.99 4.25% 972.20 (3,294.58) NA 4.45 Total Corporate 78,690,000.00 78,232,989.78 99.78 78,453,439.44 26.01% A1/A 2.88 3.68% 78,229,235.11 4.21% 600,268.23 224,204.33 A+ 2.48 MONEY MARKET FUND 31846V203 FIRST AMER:GVT OBLG Y 2,161,115.51 4.54% 2,161,115.51 2,161,115.51 1.00 4.54% 2,161,115.51 0.00 0.72% Aaa/AAAm 0.00 AAA 0.00 0.00 Total Money Market 2,161,115.51 1.00 2,161,115.51 0.72% Aaa/AAAm Fund 2,161,115.51 4.54% 2,161,115.51 4.54% 0.00 0.00 AAA 0.00 0.00 SUPRANATIONAL 459058JB0 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 0.625 04/22/2025 2,260,000.00 04/15/2020 2,251,253.80 0.70% 2,259,027.67 97.95 2,213,717.82 0.73% Aaa/AAA 0.56 4.38% 6,248.52 (45,309.85) NA 0.54 39 44 HOLDINGS REPORT City of Dublin I Account #10198 I As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Cusip Security Description Purchase Mkt Par Value/ Date Cost Value Price Market Value % of Port. Units Purchase Book Value Mkt Accrued Int. Gain/Loss Yield YTM Moody's/ S&P/ Fitch Maturity Duration 4581XODN5 459058JL8 INTER-AMERICAN DEVELOPMENT BANK 0.625 07/15/2025 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 0.5 10/28/2025 1,685,000.00 6,000,000.00 4581X0DV7 INTER-AMERICAN DEVELOPMENT BANK 0.875 04/20/2026 459058KT9 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.5 07/12/2028 4,615,000.00 45950KDD9 4581X0DC9 INTERNATIONAL FINANCE CORP 4.5 07/13/2028 INTER-AMERICAN DEVELOPMENT BANK 3.125 09/18/2028 5,000,000.00 01/13/2021 0.53% 1,692,329.75 1,686,281.14 97.26 4.19% 1,638,884.58 2,223.26 0.54% Aaa/AAA (47,396.56) NA 0.55% 5,986,632.00 5,996,974.90 0.79 0.77 96.30 5,777,743.38 1.92% Aaa/AAA 1.08 4.06% 12,750.00 (219,231.52) NA 1.05 04/13/2021 4,593,863.30 95.52 4,408,462.92 1.46% Aaa/AAA 1.55 0.97% 4,608,448.32 3.87% 18,059.39 (199,985.40) NA 1.51 -- 4,813,059.00 4.35% 4,856,102.06 99.62 4,980,928.95 1.65% Aaa/AAA 3.78 3.61% 38,402.78 124,826.89 NA 3.48 1,605,000.00 07/06/2023 1,603,218.45 103.31 1,658,158.07 0.55% Aaa/AAA 3.79 4.53% 1,603,653.35 3.56% 15,648.75 54,504.71 NA 3.43 3,360,000.00 -- 3,187,150.40 4.33% 3,216,913.15 98.27 3,301,891.52 1.09% Aaa/AAA 3.97 3.60% 3,791.67 84,978.37 NA 3.69 4581X0EN4 INTER-AMERICAN DEVELOPMENT 3,000,000.00 BANK 4.125 02/15/2029 02/15/2024 2,970,690.00 101.98 3,059,286.06 1.01% Aaa/AAA 4.38 4.34% 2,974,293.42 3.63% 15,812.50 84,992.64 NA 3.96 Total Supranational 27,525,000.00 27,098,196.70 2.46% 27,201,694.02 98.29 27,039,073.30 8.96% Aaa/AAA 2.49 3.84% 112,936.87 (162,620.72) NA 2.31 US TREASURY 91282CBQ3 UNITED STATES TREASURY0.5 2,500,000.00 02/28/2026 91282CBT7 UNITED STATES TREASURY 0.75 5,000,000.00 03/31/2026 91282CCF6 UNITED STATES TREASURY0.75 2,000,000.00 05/31/2026 91282CCW9 UNITED STATES TREASURY 0.75 2,000,000.00 08/31/2026 03/26/2021 2,459,960.94 95.52 2,387,890.63 0.79% Aaa/AA+ 1.41 0.83% 2,488,525.25 3.79% 1,070.44 (100,634.63) AA+ 1.38 -- 4,974,804.69 95.64 4,781,835.95 1.59% Aaa/AA+ 1.50 0.85% 4,992,440.95 3.77% 103.02 (210,605.00) AA+ 1.46 06/18/2021 1,985,000.00 95.25 1,904,921.88 0.63% Aaa/AA+ 1.67 0.90% 1,994,955.68 3.72% 5,040.98 (90,033.80) AA+ 1.62 08/30/2021 1,998,515.63 94.65 1,893,046.88 0.63% Aaa/AA+ 1.92 0.77% 1,999,431.78 3.67% 1,284.53 (106,384.90) AA+ 1.87 91282CDG3 UNITED STATES TREASURY 1.125 5,000,000.00 10/31/2026 1.25% 4,970,498.06 4,987,461.79 94.98 4,749,023.45 1.57% Aaa/AA+ 2.08 3.65% 23,539.40 (238,438.34) AA+ 2.02 912828Z78 UNITED STATES TREASURY 1.5 4,500,000.00 01/31/2027 91282CEN7 UNITED STATES TREASURY2.75 7,000,000.00 04/30/2027 2.15% 4,367,285.16 4,435,367.93 95.31 4,288,886.73 1.42% Aaa/AA+ 2.34 3.62% 11,372.28 (146,481.20) AA+ 2.25 -- 6,761,484.38 3.55% 6,867,771.91 97.94 6,855,898.42 2.27% Aaa/AA+ 2.58 3.59% 80,557.07 (11,873.49) AA+ 2.44 40 45 HOLDINGS REPORT City of Dublin 1 Account #10198 1 As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Cusip Security Description Purchase Mkt Par Value/ Date Cost Value Price Market Value % of Port. Units Purchase Book Value Mkt Accrued Int. Gain/Loss Yield YTM Moody's/ S&P/ Fitch Maturity Duration 91282CEW7 91282CFM8 UNITED STATES TREASURY 3.25 06/30/2027 UNITED STATES TREASURY 4.125 09/30/2027 9,000,000.00 10,000,000.00 - 9,018,066.41 3.22% 9,007,700.22 99.16 8,924,062.50 2.96% Aaa/AA+ 3.57% 73,919.84 (83,637.72) AA+ 2.75 2.58 - 10,074,062.50 101.61 10,160,546.90 3.95% 10,046,381.20 3.37% Aaa/AA+ 3.00 3.56% 1,133.24 114,165.70 AA+ 2.80 91282CGC9 UNITED STATES TREASURY 3.875 12/31/2027 10,000,000.00 3.70% 10,078,828.13 10,051,941.06 100.95 10,095,312.50 3.35% Aaa/AA+ 3.25 3.56% 97,927.99 43,371.44 AA+ 3.00 91282CGT2 91282CHE4 UNITED STATES TREASURY 3.625 03/31/2028 7,000,000.00 UNITED STATES TREASURY 3.625 05/31/2028 4,500,000.00 - 7,014,042.96 3.58% 7,010,028.80 100.20 7,014,218.75 2.33% Aaa/AA+ 3.50 3.56% 697.12 4,189.95 AA+ 3.26 4.07% 4,412,773.44 4,434,728.67 100.16 4,507,031.25 1.49% Aaa/AA+ 3.67 3.58% 54,820.70 72,302.58 AA+ 3.36 91282CHQ7 UNITED STATES TREASURY 4.125 07/31/2028 9,000,000.00 4.51% 8,848,203.13 8,880,443.85 101.94 9,174,726.54 3.04% Aaa/AA+ 3.84 3.58% 62,547.55 294,282.69 AA+ 3.50 91282CJA0 UNITED STATES TREASURY 4.625 3,750,000.00 09/30/2028 91282CJN2 - 3,702,089.84 4.92% 3,711,247.55 103.88 3,895,605.45 1.29% Aaa/AA+ 4.00 3.57% 476.48 184,357.90 AA+ 3.64 UNITED STATES TREASURY 4.375 5,500,000.00 5,584,941.41 11/30/2028 4.03% 5,571,696.67 103.06 5,668,437.50 1.88% Aaa/AA+ 4.17 3.58% 80,865.78 96,740.83 AA+ 3.74 91282CJR3 UNITED STATES TREASURY 3.75 5,500,000.00 12/31/2028 4.00% 5,438,359.38 5,446,960.04 100.67 5,536,953.13 1.84% Aaa/AA+ 4.25 3.58% 52,122.96 89,993.08 AA+ 3.86 91282CKD2 UNITED STATES TREASURY 4.25 13,000,000.00 02/28/2029 91282CKP5 UNITED STATES TREASURY 4.625 12,250,000.00 04/30/2029 4.44% 12,891,953.13 12,901,928.81 102.78 13,361,054.72 4.43% Aaa/AA+ 4.41 3.56% 47,313.54 459,125.91 AA+ 3.99 - 12,359,384.76 4.42% 12,353,147.56 104.42 12,791,679.69 4.24% Aaa/AA+ 4.58 3.57% 237,094.09 438,532.13 AA+ 4.04 91282CKX8 UNITED STATES TREASURY 4.25 6,500,000.00 06/30/2029 6,581,855.47 3.96% 6,579,621.41 102.92 6,689,921.88 2.22% Aaa/AA+ 4.75 3.57% 69,813.18 110,300.46 AA+ 4.24 91282CLK5 UNITED STATES TREASURY 3.625 2,500,000.00 O8/31/2029 09/26/2024 2,508,203.13 100.30 2,507,421.88 0.83% Aaa/AA+ 4.92 3.55% 2,508,184.89 3.56% 7,760.70 (763.02) AA+ 4.45 Total US Treasury Total Portfolio 126,500,000.00 3.58% 126,030,312.55 126,269,966.03 100.63 127,188,476.61 42.16% Aaa/AA+ 3.49 3.59% 909,460.89 918,510.57 AA+ 3.19 301,748,520.51 3.56% 300,191,335.08 300,468,949.65 99.34 301,682,742.26 100.00% Aa2/AA- 3.07 3.89% 1,812,538.70 1,213,792.61 AA 2.61 Total Market Value + Accrued 303,495,280.96 41 46 HOLDINGS REPORT City of Dublin Reporting Account 1 Account #10219 1 As of September 30, 2024 CM CHANDLER ASSET MANAGEMENT Cusip Security Description Par Value/ Units Purchase Date Purchase Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody's/ S&P/ Fitch Maturity Duration CASH CCYUSD Total Cash LAIF 90LAIF$00 Receivable 314,182.05 0.00% 314,182.05 314,182.05 1.00 0.00% 314,182.05 0.00 0.23% Aaa/AAA 0.00 AAA 0.00 0.00 314,182.05 0.00% 314,182.05 314,182.05 Local Agency Investment Fund State Pool 27,392,776.44 27,392,776.44 4.57% 27,392,776.44 1.00 0.00% 1.00 4.57% 314,182.05 0.00 27,392,776.44 0.00 0.23% Aaa/AAA 0.00 AAA 20.35% NA/NA 0.00 NA 0.00 0.00 0.00 0.00 Total LAIF 27,392,776.44 27,392,776.44 4.57% 27,392,776.44 1.00 4.57% 27,392,776.44 0.00 20.35% NA/NA 0.00 NA 0.00 0.00 LOCAL GOV INVESTMENT POOL 90CAMP$00 CAMP 106,918,796.19 5.08% 106,918,796.19 106,918,796.19 1.00 5.08% 106,918,796.19 0.00 79.42% NA/AAAm 0.00 AAA Total Local Gov Investment Pool 106,918,796.19 5.08% 106,918,796.19 106,918,796.19 1.00 5.08% 106,918,796.19 0.00 Total Portfolio Total Market Value + Accrued 134,625,754.68 134,625,754.68 4.96% 134,625,754.68 1.00 4.96% 134,625,754.68 0.00 134,625,754.68 79.42% NA/AAAm 0.00 AAA 0.00 0.00 0.00 0.00 100.00% Aaa/AAA 0.00 AAA 0.00 0.00 42 47 GUCHANDLER ASSET MANAGEMENT TRANSACTIONS 48 43 TRANSACTION LEDGER City of Dublin I Account #10198107/01/2024 Through 09/30/20241 CM CHANDLER ASSET MANAGEMENT Transaction Settlement CUSIP Type Date Quantity Security Description Acq/Disp Price Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 07/05/2024 3137FKUP9 2,500,000.00 FHMS K-087 A2 3.771 12/25/2028 95.668 4.86% (2,391,699.22) (1,047.50) (2,392,746.72) 0.00 Purchase 07/19/2024 437076DC3 1,875,000.00 HOME DEPOT INC 4.75 100.693 4.59% (1,887,993.75) (5,937.50) (1,893,931.25) 0.00 06/25/2029 Purchase 07/23/2024 00287YDS5 1,500,000.00 ABBVIE INC 4.8 03/15/2029 100.483 4.68% (1,507,245.00) (29,400.00) (1,536,645.00) 0.00 Purchase 07/24/2024 449340A03 825,000.00 HART 2024-B A3 4.84 99.985 5.45% (824,875.51) 0.00 (824,875.51) 0.00 03/15/2029 Purchase 07/31/2024 91282CKX8 5,000,000.00 UNITED STATES TREASURY 100.914 4.04% (5,045,703.13) (17,900.82) (5,063,603.95) 0.00 4.25 06/30/2029 Purchase 08/21/2024 43813YAC6 1,845,000.00 HAROT 2024-3 A3 4.57 99.984 4.66% (1,844,710.15) 0.00 (1,844,710.15) 0.00 03/21/2029 Purchase Purchase 08/27/2024 14913UAJ9 CATERPILLAR FINANCIAL 2,000,000.00 SERVICES CORP 4.85 102.685 4.19% (2,053,700.00) 0.00 (2,053,700.00) 0.00 02/27/2029 08/29/2024 3137H5YC5 2,000,000.00 FHMS K-748 A2 2.26 92.797 4.08% (1,855,937.50) (3,515.56) (1,859,453.06) 0.00 01/25/2029 Purchase 08/30/2024 91282CKX8 1,500,000.00 UNITED STATES TREASURY 102.410 3.70% (1,536,152.34) (10,567.26) (1,546,719.60) 0.00 4.25 06/30/2029 Purchase 09/17/2024 891943AD4 1,925,000.00 TLOT 2024-B A3 4.21 99.988 4.21% (1,924,774.78) 0.00 (1,924,774.78) 0.00 09/20/2027 Purchase 09/26/2024 40139LBJ1 1,195,000.00 GUARDIAN LIFE GLOBAL 99.897 4.20% (1,193,769.15) 0.00 (1,193,769.15) 0.00 FUNDING 4.179 09/26/2029 Purchase 09/27/2024 40139LBJ1 480,000.00 GUARDIAN LIFE GLOBAL 99.812 4.22% (479,097.60) (55.72) (479,153.32) 0.00 FUNDING 4.179 09/26/2029 Purchase 09/27/2024 91282CLK5 2,500,000.00 UNITED STATES TREASURY 100.328 3.55% (2,508,203.13) (6,759.32) (2,514,962.45) 0.00 3.625 08/31/2029 Total Purchase 25,145,000.00 (25,053,861.26) (75,183.68) (25,129,044.94) 0.00 TOTAL ACQUISITIONS 25,145,000.00 (25,053,861.26) (75,183.68) (25,129,044.94) 0.00 DISPOSITIONS Maturity 07/15/2024 79466LAG9 (465,000.00) SALESFORCE INC 0.625 100.000 0.63% 465,000.00 0.00 465,000.00 0.00 07/15/2024 49 44 TRANSACTION LEDGER City of Dublin 1 Account #10198107/01/2024 Through 09/30/20241 CM CHANDLER ASSET MANAGEMENT Transaction Settlement CUSIP Type Date Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss Total Maturity (465,000.00) 465,000.00 0.00 465,000.00 0.00 Sale 07/02/2024 3137EAEPO FEDERAL HOME LOAN (2,500,000.00) MORTGAGE CORP 1.5 02/12/2025 97.712 1.52% 2,442,800.00 14,583.33 2,457,383.33 (61,266.52) Sale 07/19/2024 00440EAS6 (2,500,000.00) CHUBB INA HOLDINGS LLC 98.613 0.80% 2,465,325.00 27,125.00 2,492,450.00 (73,078.54) 3.15 03/15/2025 CATERPILLAR FINANCIAL Sale 07/23/2024 14913R2V8 (1,165,000.00) SERVICES CORP 3.4 98.551 3.44% 1,148,119.15 7,701.95 1,155,821.10 (16,483.96) 05/13/2025 FEDERAL HOME LOAN Sale 07/31/2024 3137EAEPO (1,700,000.00) MORTGAGE CORP 1.5 98.094 1.52% 1,667,598.00 11,970.83 1,679,568.83 (34,810.83) 02/12/2025 Sale 07/31/2024 91282CFP1 (1,500,000.00) UNITED STATES TREASURY 4.25 10/15/2025 99.512 4.29% 1,492,675.78 18,637.30 1,511,313.08 (7,523.60) Sale 08/20/2024 91282CBH3 (500,000.00) UNITED STATES TREASURY 94.590 0.58% 472,949.22 101.90 473,051.12 (25,605.90) 0.375 01/31/2026 FEDERAL NATIONAL Sale 08/27/2024 3135G03U5 (1,825,000.00) MORTGAGE ASSOCIATION 97.408 0.67% 1,777,696.00 3,960.50 1,781,656.50 (46,813.45) 0.625 04/22/2025 Sale 08/27/2024 90331HPL1 (2,610,000.00) US BANK NA 2.05 98.718 2.09% 2,576,539.80 5,350.50 2,581,890.30 (33,012.90) 01/21/2025 Sale 08/30/2024 91282CBH3 (1,000,000.00) UNITED STATES TREASURY 0.375 01/31/2026 94.871 0.58% 948,710.94 305.71 949,016.65 (48,453.93) FEDERAL NATIONAL Sale 09/12/2024 3135G04Z3 (3,435,000.00) MORTGAGE ASSOCIATION 97.089 0.54% 3,335,007.15 4,055.21 3,339,062.36 (98,909.13) 0.5 06/17/2025 Sale 09/27/2024 91282CBH3 (1,500,000.00) UNITED STATES TREASURY 95.590 0.58% 1,433,847.66 886.55 1,434,734.21 (62,129.08) 0.375 01/31/2026 Total Sale (20,235,000.00) 19,761,268.70 94,678.78 19,855,947.48 (508,087.83) TOTAL DISPOSITIONS (20,700,000.00) 20,226,268.70 94,678.78 20,320,947.48 (508,087.83) 45 50 TRANSACTION LEDGER City of Dublin Reporting Account 1 Account #10219I07/01/2024 Through 09/30/20241 CM CHANDLER ASSET MANAGEMENT Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 07/15/2024 90LAIF$00 305,623.54 Local Agency Investment Fund State Pool Purchase 07/31/2024 90CAMP$00 511,262.96 CAMP Purchase 08/22/2024 90CAMP$00 5,800,000.00 CAMP Purchase 08/27/2024 90CAMP$00 4,000,000.00 CAMP 1.000 4.53% (305,623.54) 0.00 (305,623.54) 0.00 1.000 0.00% (511,262.96) 0.00 (511,262.96) 0.00 1.000 0.00% (5,800,000.00) 0.00 (5,800,000.00) 0.00 1.000 0.00% (4,000,000.00) 0.00 (4,000,000.00) 0.00 Purchase 08/30/2024 90CAMP$00 473,257.53 CAMP 1.000 0.00% (473,257.53) 0.00 (473,257.53) 0.00 Purchase 09/30/2024 90CAMP$00 465,987.62 CAMP 1.000 0.00% (465,987.62) 0.00 (465,987.62) 0.00 Purchase 09/30/2024 90CAMP$00 2,100,000.00 CAMP 1.000 0.00% (2,100,000.00) 0.00 (2,100,000.00) 0.00 Total Purchase 13,656,131.65 (13,656,131.65) 0.00 (13,656,131.65) 0.00 TOTAL ACQUISITIONS 13,656,131.65 (13,656,131.65) 0.00 (13,656,131.65) 0.00 DISPOSITIONS Sale 07/09/2024 90CAMP$00 (1,400,000.00) CAMP 1.000 0.00% 1,400,000.00 0.00 1,400,000.00 0.00 Sale 07/15/2024 90CAMP$00 (1,300,000.00) CAMP 1.000 0.00% 1,300,000.00 0.00 1,300,000.00 0.00 Sale 07/23/2024 90CAMP$00 (4,300,000.00) CAMP 1.000 0.00% 4,300,000.00 0.00 4,300,000.00 0.00 Sale 07/29/2024 90CAMP$00 (3,900,000.00) CAMP 1.000 0.00% 3,900,000.00 0.00 3,900,000.00 0.00 Sale 08/06/2024 90CAMP$00 (3,300,000.00) CAMP 1.000 0.00% 3,300,000.00 0.00 3,300,000.00 0.00 Sale 08/14/2024 90CAMP$00 (1,100,000.00) CAMP 1.000 0.00% 1,100,000.00 0.00 1,100,000.00 0.00 Sale 09/10/2024 90CAMP$00 (1,200,000.00) CAMP 1.000 0.00% 1,200,000.00 0.00 1,200,000.00 0.00 Sale 09/16/2024 90CAMP$00 (2,400,000.00) CAMP 1.000 0.00% 2,400,000.00 0.00 2,400,000.00 0.00 Sale 09/23/2024 90CAMP$00 (2,000,000.00) CAMP 1.000 0.00% 2,000,000.00 0.00 2,000,000.00 0.00 Total Sale (20,900,000.00) 20,900,000.00 0.00 20,900,000.00 0.00 TOTAL DISPOSITIONS (20,900,000.00) 20,900,000.00 0.00 20,900,000.00 0.00 51 46 IMPORTANT DISCLOSURES City of Dublin 1 As of September 30, 2024 2024 Chandler Asset Management, Inc, An Independent Registered Investment Adviser. C'MCHANDLER 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. 52 47 BENCHMARK DISCLOSURES City of Dublin 1 Account #10198 1 As of September 30, 2024 CM 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. 48 53 Attachment 2 TRANSACTION LEDGER City of Dublin I Account #10198107/01/2024 Through 09/30/20241 CM CHANDLER ASSET MANAGEMENT Transaction Settlement CUSIP Type Date Quantity Security Description Acq/Disp Price Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 07/05/2024 3137FKUP9 2,500,000.00 FHMS K-087 A2 3.771 12/25/2028 95.668 4.86% (2,391,699.22) (1,047.50) (2,392,746.72) 0.00 Purchase 07/19/2024 437076DC3 1,875,000.00 HOME DEPOT INC 4.75 100.693 4.59% (1,887,993.75) (5,937.50) (1,893,931.25) 0.00 06/25/2029 Purchase 07/23/2024 00287YDS5 1,500,000.00 ABBVIE INC 4.8 03/15/2029 100.483 4.68% (1,507,245.00) (29,400.00) (1,536,645.00) 0.00 Purchase 07/24/2024 449340A03 825,000.00 HART 2024-B A3 4.84 99.985 5.45% (824,875.51) 0.00 (824,875.51) 0.00 03/15/2029 Purchase 07/31/2024 91282CKX8 5,000,000.00 UNITED STATES TREASURY 100.914 4.04% (5,045,703.13) (17,900.82) (5,063,603.95) 0.00 4.25 06/30/2029 Purchase 08/21/2024 43813YAC6 1,845,000.00 HAROT 2024-3 A3 4.57 99.984 4.66% (1,844,710.15) 0.00 (1,844,710.15) 0.00 03/21/2029 Purchase Purchase 08/27/2024 14913UAJ9 CATERPILLAR FINANCIAL 2,000,000.00 SERVICES CORP 4.85 102.685 4.19% (2,053,700.00) 0.00 (2,053,700.00) 0.00 02/27/2029 08/29/2024 3137H5YC5 2,000,000.00 FHMS K-748 A2 2.26 92.797 4.08% (1,855,937.50) (3,515.56) (1,859,453.06) 0.00 01/25/2029 Purchase 08/30/2024 91282CKX8 1,500,000.00 UNITED STATES TREASURY 102.410 3.70% (1,536,152.34) (10,567.26) (1,546,719.60) 0.00 4.25 06/30/2029 Purchase 09/17/2024 891943AD4 1,925,000.00 TLOT 2024-B A3 4.21 99.988 4.21% (1,924,774.78) 0.00 (1,924,774.78) 0.00 09/20/2027 Purchase 09/26/2024 40139LBJ1 1,195,000.00 GUARDIAN LIFE GLOBAL 99.897 4.20% (1,193,769.15) 0.00 (1,193,769.15) 0.00 FUNDING 4.179 09/26/2029 Purchase 09/27/2024 40139LBJ1 480,000.00 GUARDIAN LIFE GLOBAL 99.812 4.22% (479,097.60) (55.72) (479,153.32) 0.00 FUNDING 4.179 09/26/2029 Purchase 09/27/2024 91282CLK5 2,500,000.00 UNITED STATES TREASURY 100.328 3.55% (2,508,203.13) (6,759.32) (2,514,962.45) 0.00 3.625 08/31/2029 Total Purchase 25,145,000.00 (25,053,861.26) (75,183.68) (25,129,044.94) 0.00 TOTAL ACQUISITIONS 25,145,000.00 (25,053,861.26) (75,183.68) (25,129,044.94) 0.00 DISPOSITIONS Maturity 07/15/2024 79466LAG9 (465,000.00) SALESFORCE INC 0.625 100.000 0.63% 465,000.00 0.00 465,000.00 0.00 07/15/2024 54 44 TRANSACTION LEDGER City of Dublin 1 Account #10198107/01/2024 Through 09/30/20241 CM CHANDLER ASSET MANAGEMENT Transaction Settlement CUSIP Type Date Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss Total Maturity (465,000.00) 465,000.00 0.00 465,000.00 0.00 Sale 07/02/2024 3137EAEPO FEDERAL HOME LOAN (2,500,000.00) MORTGAGE CORP 1.5 02/12/2025 97.712 1.52% 2,442,800.00 14,583.33 2,457,383.33 (61,266.52) Sale 07/19/2024 00440EAS6 (2,500,000.00) CHUBB INA HOLDINGS LLC 98.613 0.80% 2,465,325.00 27,125.00 2,492,450.00 (73,078.54) 3.15 03/15/2025 CATERPILLAR FINANCIAL Sale 07/23/2024 14913R2V8 (1,165,000.00) SERVICES CORP 3.4 98.551 3.44% 1,148,119.15 7,701.95 1,155,821.10 (16,483.96) 05/13/2025 FEDERAL HOME LOAN Sale 07/31/2024 3137EAEPO (1,700,000.00) MORTGAGE CORP 1.5 98.094 1.52% 1,667,598.00 11,970.83 1,679,568.83 (34,810.83) 02/12/2025 Sale 07/31/2024 91282CFP1 (1,500,000.00) UNITED STATES TREASURY 4.25 10/15/2025 99.512 4.29% 1,492,675.78 18,637.30 1,511,313.08 (7,523.60) Sale 08/20/2024 91282CBH3 (500,000.00) UNITED STATES TREASURY 94.590 0.58% 472,949.22 101.90 473,051.12 (25,605.90) 0.375 01/31/2026 FEDERAL NATIONAL Sale 08/27/2024 3135G03U5 (1,825,000.00) MORTGAGE ASSOCIATION 97.408 0.67% 1,777,696.00 3,960.50 1,781,656.50 (46,813.45) 0.625 04/22/2025 Sale 08/27/2024 90331HPL1 (2,610,000.00) US BANK NA 2.05 98.718 2.09% 2,576,539.80 5,350.50 2,581,890.30 (33,012.90) 01/21/2025 Sale 08/30/2024 91282CBH3 (1,000,000.00) UNITED STATES TREASURY 0.375 01/31/2026 94.871 0.58% 948,710.94 305.71 949,016.65 (48,453.93) FEDERAL NATIONAL Sale 09/12/2024 3135G04Z3 (3,435,000.00) MORTGAGE ASSOCIATION 97.089 0.54% 3,335,007.15 4,055.21 3,339,062.36 (98,909.13) 0.5 06/17/2025 Sale 09/27/2024 91282CBH3 (1,500,000.00) UNITED STATES TREASURY 95.590 0.58% 1,433,847.66 886.55 1,434,734.21 (62,129.08) 0.375 01/31/2026 Total Sale (20,235,000.00) 19,761,268.70 94,678.78 19,855,947.48 (508,087.83) TOTAL DISPOSITIONS (20,700,000.00) 20,226,268.70 94,678.78 20,320,947.48 (508,087.83) 45 55 TRANSACTION LEDGER City of Dublin Reporting Account 1 Account #10219I07/01/2024 Through 09/30/20241 CM CHANDLER ASSET MANAGEMENT Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 07/15/2024 90LAIF$00 305,623.54 Local Agency Investment Fund State Pool Purchase 07/31/2024 90CAMP$00 511,262.96 CAMP Purchase 08/22/2024 90CAMP$00 5,800,000.00 CAMP Purchase 08/27/2024 90CAMP$00 4,000,000.00 CAMP 1.000 4.53% (305,623.54) 0.00 (305,623.54) 0.00 1.000 0.00% (511,262.96) 0.00 (511,262.96) 0.00 1.000 0.00% (5,800,000.00) 0.00 (5,800,000.00) 0.00 1.000 0.00% (4,000,000.00) 0.00 (4,000,000.00) 0.00 Purchase 08/30/2024 90CAMP$00 473,257.53 CAMP 1.000 0.00% (473,257.53) 0.00 (473,257.53) 0.00 Purchase 09/30/2024 90CAMP$00 465,987.62 CAMP 1.000 0.00% (465,987.62) 0.00 (465,987.62) 0.00 Purchase 09/30/2024 90CAMP$00 2,100,000.00 CAMP 1.000 0.00% (2,100,000.00) 0.00 (2,100,000.00) 0.00 Total Purchase 13,656,131.65 (13,656,131.65) 0.00 (13,656,131.65) 0.00 TOTAL ACQUISITIONS 13,656,131.65 (13,656,131.65) 0.00 (13,656,131.65) 0.00 DISPOSITIONS Sale 07/09/2024 90CAMP$00 (1,400,000.00) CAMP 1.000 0.00% 1,400,000.00 0.00 1,400,000.00 0.00 Sale 07/15/2024 90CAMP$00 (1,300,000.00) CAMP 1.000 0.00% 1,300,000.00 0.00 1,300,000.00 0.00 Sale 07/23/2024 90CAMP$00 (4,300,000.00) CAMP 1.000 0.00% 4,300,000.00 0.00 4,300,000.00 0.00 Sale 07/29/2024 90CAMP$00 (3,900,000.00) CAMP 1.000 0.00% 3,900,000.00 0.00 3,900,000.00 0.00 Sale 08/06/2024 90CAMP$00 (3,300,000.00) CAMP 1.000 0.00% 3,300,000.00 0.00 3,300,000.00 0.00 Sale 08/14/2024 90CAMP$00 (1,100,000.00) CAMP 1.000 0.00% 1,100,000.00 0.00 1,100,000.00 0.00 Sale 09/10/2024 90CAMP$00 (1,200,000.00) CAMP 1.000 0.00% 1,200,000.00 0.00 1,200,000.00 0.00 Sale 09/16/2024 90CAMP$00 (2,400,000.00) CAMP 1.000 0.00% 2,400,000.00 0.00 2,400,000.00 0.00 Sale 09/23/2024 90CAMP$00 (2,000,000.00) CAMP 1.000 0.00% 2,000,000.00 0.00 2,000,000.00 0.00 Total Sale (20,900,000.00) 20,900,000.00 0.00 20,900,000.00 0.00 TOTAL DISPOSITIONS (20,900,000.00) 20,900,000.00 0.00 20,900,000.00 0.00 56 46