HomeMy WebLinkAboutItem 4.2 - 1313 Q2 Investment Report
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STAFF REPORT
CITY COUNCIL
DATE: February 21, 2017
TO: Honorable Mayor and City Councilmembers
FROM:
Christopher L. Foss, City Manager
SUBJECT:
City Treasurer's Informational Report of Investments for the Quarter
Ending December 31, 2016
Prepared by: Jay Baksa, Financial Analyst
EXECUTIVE SUMMARY:
The City of Dublin's Investment Policy calls for a semi-annual report of investments.
This report is for the quarter ending December 31, 2016, and includes a monthly
transaction ledger. The City’s investment portfolio for this period totaled
$206,184,902 (book value) with an average market yield of 1.28%. All investment
transactions continue to comply with the City's Investment Policy and the California
Government Code. As required by the Policy, the City Treasurer (Administrative
Services Director) affirms that the City is able to meet its expenditure requirements for
the next six months.
STAFF RECOMMENDATION:
Receive the report.
FINANCIAL IMPACT:
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 receipt of revenues and
payment of expenditures, the quarterly cash balance can vary from quarter to quarter.
Staff is including a budget adjustment of $375,000, as part of the Mid-Year Budget
Review, to account for additional projected interest revenue due to the increasing
interest rates.
DESCRIPTION:
The total investment portfolio of $206,184,902 (book value) is comprised of
$146,612,047 managed by Chandler Asset Management (Chandler), and $59,572,855
invested by the City in local government pools. The average market yield of the
Chandler portfolio and the local pools was 1.52% and 0.67% respectively. The total
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investment portfolio balance fluctuates throughout the year due to normal cash flow
needs and includes both discretionary and restricted fund s.
Economic Update Highlights
The following are highlights from the Economic Update included in the attached
Investment Report prepared by Chandler (Attachment 1).
The Federal Open Market Committee (FOMC) unanimously voted to increase the target
fed funds rate by 25 basis points to a range of 0.50%-0.75% at their December 14th
meeting. The FOMC’s median projection for the fed funds rate in 2017 was also revised
up to 1.4% from 1.1%, which would be indicative of three more 25 -basis-point rate
hikes in 2017. Fed Chair Yellen continued to emphasize that future increases in the fed
funds rate are expected to be gradual. The fed funds rate increase resulted in the yield
shifting upward as the 2-year Treasury yield increased nearly 8 basis points and the 10 -
year Treasury yield increasing about 6 basis points in December.
Domestic economic data remains indicative of slow growth. The U.S. labor market
continues to improve, consumer confidence remains strong, and housing trends remain
mostly favorable. Third quarter 2016 GDP grew 3.5%, following growth of 1.4% in the
second quarter and 0.8% in the first quarter.
City of Dublin Portfolio
The City's portfolio managed by Chandler has maintained a healthy balance of
investment types. As illustrated in Chart 1 below, the City’s holding as managed by
Chandler, remained consistent with the prior quarter with a slight shifting of funds from
Agency to US Treasury.
Chart 1: Investments by Type, September 30, 2016 - December 31, 2016
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The market value of the City's portfolio decreased $2.3 million since September 2016
(see Table 1 below), but increased $5.8 million over the same quarter the prior year.
Table 1: Portfolio Values and Yield to Maturity
Holdings Market Value Market Value
Par
Value
Book
Value Market Value
% of
Subtotal
% of Total
Portfolio
Book
Yield
Market
Yield
Weighted
Yield
Managed by City
LAIF 46,650,402 49,818,347 49,893,581 49,893,581 49,893,581 83.8%24.2%0.67%0.67%0.16%
CAMP 9,071,383 10,867,716 9,679,274 9,679,274 9,679,274 16.2%4.7%0.66%0.66%0.03%
SUBTOTAL 55,721,784 60,686,063 59,572,855 59,572,855 59,572,855 100.00%28.86%0.67%0.67%0.19%
Managed by Chandler
ABS 6,566,235 12,397,904 11,274,368 11,273,674 11,260,406 7.7%5.5%0.89%1.29%0.07%
Agency 62,090,928 61,623,358 55,720,000 55,681,019 55,305,347 37.8%27.0%1.22%1.39%0.38%
Commercial Paper 2,708,385 2,948,484 2,960,000 2,954,580 2,954,580 2.0%1.4%1.05%1.05%0.02%
Money Market 2,562,738 804,682 89,052 89,052 89,052 0.1%0.0%0.01%0.01%0.00%
Negotiable CD 1,850,000 1,850,000 1,850,000 1,850,000 1.3%0.9%1.26%1.26%0.01%
US Corporates 27,292,579 32,081,560 32,950,000 33,030,726 32,947,390 22.5%16.0%1.80%1.84%0.29%
US Treasury 43,094,431 35,789,797 42,000,000 41,732,997 41,758,999 28.6%20.3%1.60%1.56%0.32%
SUBTOTAL 144,315,296 147,495,786 146,843,420 146,612,047 146,165,774 100.00%71.14%1.43%1.52%1.08%
Accrued Interest 441,240 508,305 571,024
144,756,536 148,004,091 146,736,799
TOTAL PORTFOLIO 200,478,320 208,690,154 206,416,275 206,184,902 206,309,654 100.00%1.28%
1,483,576 Change from September 30, 2016 (2,380,501)
24,041,752 Change from December 30, 2015 5,831,334
December 31, 2016September 30, 2016December 31, 2015
Overall market yield-to-maturity (YTM) increased from 0.93% to 1.28% (See Table
below). For detailed monthly transactions, see Attachment 2.
Table 2: Quarterly Holdings (Par Value) by Type, and YTM, 5 Quarters
Holdings (Par Value)12/31/15 3/31/16 6/30/16 9/30/16 12/31/16 YTM
LAIF/CAMP 55,721,784 55,073,138 55,248,522 60,686,063 59,572,855 0.67%
ABS 6,586,279 9,084,088 9,033,859 12,392,794 11,274,368 1.29%
Agency 62,325,000 61,795,000 64,295,000 61,295,000 55,720,000 1.39%
Commercial Paper 2,710,000 2,930,000 2,950,000 2,950,000 2,960,000 1.05%
Money Market 2,562,738 665,899 101,774 804,682 89,052 0.01%
Negotiable CD - - - 1,850,000 1,850,000 1.26%
US Corporates 27,300,000 27,465,000 28,580,000 31,680,000 32,950,000 1.84%
US Treasury 43,350,000 43,350,000 40,750,000 35,250,000 42,000,000 1.56%
TOTAL 200,555,801 200,363,125 200,959,155 206,908,540 206,416,275
YIELD TO MATURITY 1.08%0.86%0.80%0.93%1.28%
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 City has typically
carried close to the $50 million maximum allowable in LAIF with any excesses resulting
from the timing of large payments deposited into CAMP as a temporary holding place.
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As shown below, the quarterly LAIF yield in December 2016 was the highest since the
2010 measuring point.
Table 3: Quarterly LAIF Yields, Recent Seven Years
March June Sept Dec
2010 0.56 0.56 0.51 0.46
2011 0.51 0.48 0.38 0.38
2012 0.38 0.36 0.35 0.32
2013 0.28 0.24 0.26 0.26
2014 0.23 0.22 0.24 0.25
2015 0.26 0.28 0.32 0.37
2016 0.46 0.55 0.60 0.68
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
None.
ATTACHMENTS:
1. City of Dublin Investment Report for Period Ending December 2016
2. Transaction Ledger, October - December 2016
6225 Lusk Blvd | San Diego, CA 92121 | Phone 800.317.4747 | Fax 858.546.3741 | www.chandlerasset.com
CHANDLER ASSET MANAGEMENT
Period Ending
December 31, 2016
City of Dublin
Investment Report
Table of Contents
SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Consolidated Information
SECTION 4 Portfolio Holdings
SECTION 5 Transactions
1
SECTION 1
Economic Update
2
Domesticeconomicdataremainsindicative of slowgrowth.TheU.S.labormarketcontinues to improve,consumer
confidenceremainsstrong,and housingtrendsremainmostlyfavorable.Themanufacturingsector has also
improved.Thirdquarter 2016 GDPgrew3.5%,followinggrowth of 1.4%in thesecondquarter and 0.8%in thefirst
quarter. Market participants estimate GDP grew 2.2% in the fourth quarter.
Economic Update
TheFederalOpenMarketCommittee(FOMC)unanimouslyvoted to increasethetargetfedfundsrate by25 basis
points to arange of 0.50%-0.75%,at theDecember 14 meeting.TheFednotedthateconomicactivity has expanded
at amoderatepace and labormarkettrendshaveimproved,but inflationremainsbelowtarget.The Fed’s revised “dot
plot”wasslightlymorehawkish,as theprojectedpath of thefedfundsratewasrevisedupward.The Committee’s
GDP and inflationforecastswerelittlechangedwhileprojectionsfortheunemploymentratewerereviseddown
slightly.The FOMC’s medianprojectionforthefedfundsrate in 2017 wasrevised up to 1.4%from1.1%,whichwould
be indicative of threemore 25 basispointratehikesnextyear.The Fed’s longer-runmedianfedfundstargetratewas
revised up to 3.0%from2.9%.FedChairYellendownplayedtheforecastchangesduring her pressconference,and
continued to emphasizethatfutureincreases in thefedfundsrateareexpected to be gradual.She added that itis too
early to anticipate how potential changes in fiscal policy will impact the economy and the Fed’s outlook.
In December,theyieldshiftedupward as the2-yearTreasuryyieldincreasednearly8basispoints and the10-year
Treasuryyieldincreased about 6basispoints.Themove up in ratesoverthepasttwomonths has largely been driven
by heightenedexpectationsforfiscalstimulus,and apotentialincrease in inflation,in light of President-electTrump's
victory and theRepublicanPartycongressionalsweep in theUS.Globalfactors(includingsteeperyieldcurves in
Japan and Germany,andan expectationforongoingstimulusfromtheEuropeanCentralBank)alsocontinue to
influence US Treasury yields.
3
Nonfarmpayrollswerelowerthanexpected in December,up 156,000versustheconsensusforecast of 175,000.However,October
and Novemberpayrollswererevised upby atotal of 19,000.On atrailing3-month and 6-monthbasis,payrollsincreased byan average
of 165,000 and 188,500 per month,respectively.Theunemploymentrateinchedback up to 4.7%from4.6%,but theparticipationrate
alsoincreased to 62.7%from62.6%.Abroadermeasure of unemploymentcalledtheU-6,whichincludesthosewhoaremarginally
attached to thelaborforce and employedparttimeforeconomicreasons,declined to 9.2%in Decemberfrom9.3%in November.
Wageswere up asolid0.4%in December,versusexpectationsfora0.3%increase.On ayear-over-yearbasis,wageswere up 2.9%
in December (the highest year-over-year increase since June 2009), vs. 2.5% in November.
Employment
Source: US Department of Labor Source: US Department of Labor
0
50
100
150
200
250
300
350
M
O
M
C
h
a
n
g
e
I
n
(
0
0
0
'
s
)
Nonfarm Payroll (000's)
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
11.0%
12.0%
13.0%
14.0%
15.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Ra
t
e
(
%
)
4
TheConsumerPriceIndex(CPI)was up 2.1%year-over-year in December,versus up 1.7%year-over-year in November,largelydriven
byan increase in energyprices.CoreCPI(CPIlessfood and energy)was up 2.2%year-over-year in December,versus up 2.1%year-
over-year in November.ThePersonalConsumptionExpenditures(PCE)indexwas up 1.4%year-over-year in November,unchanged
fromOctober.CorePCE(excludingfood and energy)was up 1.6%year-over-year in November,afterbeing up 1.8%year-over-year in
October.AlthoughCoreCPI is trendingabove2.0%,theFed'sprimaryinflation gauge is PCEwhichremainsbelowtheFed's2.0%
target.
Inflation
Source: US Department of Labor Source: US Department of Labor
-0.5%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YO
Y
(
%
)
C
h
a
n
g
e
-0.5%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
Personal Consumption Expenditures
(PCE)
PCE Price Deflator YOY % Change
PCE Core Deflator YOY % Change
YO
Y
(
%
)
C
h
a
n
g
e
5
On ayear-over-yearbasis,totalretailsaleswere up 4.1%in Decembercomparedwitha3.9%increase in November.On amonth-over-
monthbasis,retailsaleswere up 0.6%in December,drivenlargely by vehiclesales.Excludingautos and gas,retailsaleswereflat in
the month. Meanwhile, consumer confidence increased to 113.7 in December versus 109.4 in November.
Consumer
Source: US Department of Commerce Source: Federal Reserve
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
Retail Sales YOY % Change
YO
Y
(
%
)
C
h
a
n
g
e
75
80
85
90
95
100
105
110
115
120
In
d
e
x
L
e
v
e
l
Consumer Confidence
6
TheIndex of LeadingEconomicIndicators(LEI)wasflat in November,belowexpectations,pointing to flateconomicgrowth ahead.
Meanwhile,theChicagoFedNationalActivityIndex(CFNAI)improved in November on a3-monthmovingaveragebasis to -0.14from-
0.20 in October. Still, the CFNAI suggests that the pace of economic growth is below-trend.
Economic Activity
-0.4%
-0.2%
0.0%
0.2%
0.4%
0.6%
0.8%
Leading Economic Indicators (LEI)
M
O
M
(
%
)
C
h
a
n
g
e
-0.50
-0.40
-0.30
-0.20
-0.10
0.00
0.10
0.20
0.30
0.40
Chicago Fed National Activity Index
(CFNAI)
3
M
o
n
t
h
A
v
e
r
a
g
e
Source: The Conference Board Source: Federal Reserve Bank of Chicago
7
Totalhousingrose11.3%in December,followingadecline of 16.5%in November.Theoverallincreasewasdriven by multi-family
startswhichrose57.3%in December.Meanwhile,single-familystartsfell4.0%.Housingstartstend to be volatile on amonth-to-month
basis.According to theCase-Shiller20-Cityhomepriceindex,homepriceswere up 5.1%year-over-year in October,compared to
5.0% in September.
Housing
Source: US Census Bureau Source: S&P
0
200
400
600
800
1000
1200
1400
1600
M
O
M
C
h
a
n
g
e
(
I
n
T
h
o
u
s
a
n
d
s
o
f
U
n
i
t
s
)
Housing Starts
Multi Family Housing Starts
Single Family Housing Starts
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
S&P/CaseShiller 20 City Composite Home
Price Index
YO
Y
(
%
)
C
h
a
n
g
e
8
TheInstituteforSupplyManagement(ISM)manufacturingindexincreased to 54.7 in Decemberfrom53.2 in November,suggestingthat
manufacturingactivitycontinues to improve.Notably,areadingabove50.0suggeststhemanufacturingsector is expanding.Meanwhile,
capacityutilization,which is productiondivided by capacity,increased to 75.5%in Decemberfrom74.9%in November.Thecapacity
utilizationrateremainsbelowthelong-runaverage of 80.0%(1972-2015),suggestingthere is stillexcesscapacity in theindustrial
sector.
Manufacturing
Source: Institute for Supply Management Source: Federal Reserve
46
48
50
52
54
56
58
60
Institute of Supply Management Purchasing
Manager Index
Expanding
Contracting
74.0%
75.0%
76.0%
77.0%
78.0%
79.0%
80.0%
Capacity Utilization
Ra
t
e
(
%
)
9
ThirdquarterrealGDPwasrevised up to an annualizedrate of 3.5%fromthesecondestimate of 3.2%.Theupwardrevisionwas
driven by nonresidentialinvestment,PCE,and state and localspending.Thiscompares to 1.4%growth in thesecondquarter.Overall,
PersonalConsumptionExpenditurescontinued to be thebiggestcontributor of economicgrowth in thethirdquarter,although it was
down from the second quarter. Market participants estimate GDP grew 2.2% in the fourth quarter.
Gross Domestic Product (GDP)
Source: US Department of Commerce Source: US Department of Commerce
12/153/166/169/16
1.5%1.1%2.9%2.0%
-0.4%-0.6%-1.3%0.5%
-0.5%0.0%0.2%0.9%
0.3%-0.1%0.0%0.2%
-0.1%0.4%-0.3%0.0%
0.9%0.8%1.4%3.5%
State and Local (Consumption and Gross
Investment)
Components of GDP
Total
Net Exports and Imports
Personal Consumption Expenditures
Gross Private Domestic Investment
Federal Government Expenditures
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
10
Source: Bloomberg
Overthepastthreemonths,theyieldcurvesteepenedwiththe2-yearTreasuryyield up nearly 43 basispoints and the10-year
Treasuryyield up85 basispoints.On ayear-over-yearbasisthe2-yearTreasuryyieldincreased 14 basispoints and 10-yearTreasury
yieldincreased about18 basispoints.Overthepastyear,financialmarketvolatility hasbeen elevated due to weakglobaleconomic
growth, volatile commodity prices, political uncertainty, and divergent global central bank monetary policy.
Bond Yields
Source: Bloomberg
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Yi
e
l
d
(
%
)
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
US Treasury Yield Curve
Dec-16
Sep-16
Dec-15
Yi
e
l
d
(
%
)
11
SECTION 2
Account Profile
12
Objectives
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
Bank of America Merrill Lynch 1-3 Year Treasury and Agency Index.
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.
Strategy
In order to achieve this objective, the portfolio invests in high-quality money market instruments, including
US Treasury securities, US agency securities and A or higher rated Corporate medium term notes.
13
Compliance
Category Standard Comment
Treasury Issues No limitations Complies
Agency Issues 35% max per issuer; 25% max callables Complies
Municipal Issues "A" rated or higher by a NRSRO; 5% max per issuer Complies
Medium Term Notes "A" rated or higher by a NRSRO; 30% max; 5% max per issuerComplies
Banker’s Acceptances "A-1" rated or higher by a NRSRO; 40% max; 5% max per issuer;
180 days max maturity
Complies
Commercial Paper "A-1" rated or higher by a NRSRO; 25% max; 5% max per issuer;
270 days max maturity
Complies
Negotiable Certificates of Deposit "A" or better long term debt rating/"A-1" or higher short term rating
by a NRSRO; 30% max; 5% max per issuer
Complies
Corporate Debt (All)20% max per issuer Complies
Time Deposits 10% max; Collateralized/FDIC Insured; 1 year max maturityComplies
Asset-Backed and Mortgage-
Backed Securities (ABS/MBS)
"AA" rated or higher by a NRSRO; "A" rated or higher for the
issuer's debt by a NRSRO; 20% max; 5% max per issue
Complies
Money Market Mutual Funds "AAA" rated by two NRSROs or SEC registered adviser; 20% max;
10% max per fund
Complies
LAIF $50 million limit Complies
CAMP Not used by adviser Complies
Supranationals Not listed as authorized investment in investment policy Complies
Max Per Issuer 5% (except US Government, agencies, money market mutual funds)Complies
Maximum Maturity 5 years Complies
City of Dublin
December 31, 2016
COMPLIANCE WITH INVESTMENT POLICY
Assets managed by Chandler Asset Management are in full compliance with State law and with the City's investment policy.
14
Portfolio Characteristics
City of Dublin
12/31/2016 9/30/2016
Benchmark* Portfolio Portfolio
Average Maturity (yrs) 2.72 2.67 2.63
Modified Duration 2.61 2.46 2.42
Average Purchase Yield n/a 1.43% 1.36%
Average Market Yield 1.40% 1.52% 1.05%
Average Quality** AAA AA/Aa1 AA/Aa1
Contributions/Withdrawals -313
Total Market Value 146,650,812 147,927,671
*BAML 1-5 Yr US Treasury/Agency Index
**Benchmark is a blended rating of S&P, Moody’s, and Fitch. Portfolio is S&P and Moody’s respectively.
15
ABS
7.7%
Agency
37.8%
Commercial
Paper
2.0% Money Market
Fund FI
0.1%
Negotiable CD
1.3%
US Corporate
22.6%
US Treasury
28.6%
Sector Distribution
City of Dublin
December 31, 2016 September 30, 2016
ABS
8.4%
Agency
41.8%
Commercial
Paper
2.0%
Money Market
Fund FI
0.5%
Negotiable CD
1.3%
US Corporate
21.8%
US Treasury
24.3%
16
Issuers
City of Dublin – Account #10198 As of 12/31/2016
Issue Name Investment Type % Portfolio
Government of United States US Treasury 28.56%
Federal Home Loan Bank Agency 14.08%
Federal National Mortgage Association Agency 13.24%
Federal Home Loan Mortgage Corp Agency 9.15%
Honda ABS ABS 2.25%
Bank of Tokyo-Mit UFJ Commercial Paper 2.01%
John Deere ABS ABS 1.88%
Pepsico Inc US Corporate 1.88%
Toyota ABS ABS 1.63%
Federal Farm Credit Bank Agency 1.37%
Wells Fargo Corp US Corporate 1.31%
JP Morgan ABS ABS 1.28%
Bank of Nova Scotia Negotiable CD 1.27%
Honda Motor Corporation US Corporate 1.25%
Exxon Mobil Corp US Corporate 1.24%
JP Morgan Chase & Co US Corporate 1.24%
Microsoft US Corporate 1.23%
Bank of New York US Corporate 1.21%
Deere & Company US Corporate 1.21%
State Street Bank US Corporate 1.21%
ChevronTexaco Corp US Corporate 1.20%
Apple Inc US Corporate 1.19%
Qualcomm Inc US Corporate 1.17%
United Technology Corp US Corporate 1.10%
Eli Lilly & Co US Corporate 1.09%
HSBC USA Corp US Corporate 1.03%
US Bancorp US Corporate 1.03%
Cisco Systems US Corporate 0.94%
Oracle Corp US Corporate 0.87%
Berkshire Hathaway US Corporate 0.69%
17
Issuers
City of Dublin – Account #10198 As of 12/31/2016
Issue Name Investment Type % Portfolio
Nissan ABS ABS 0.63%
General Electric Co US Corporate 0.51%
First American Govt Oblig Fund Money Market Fund FI 0.06%
Total 100.00%
18
AAA AA A <A NR
12/31/16 5.9% 77.4% 13.6% 0.0% 3.1%
09/30/16 7.0% 77.0% 12.8% 0.0% 3.2%
Source: S&P Ratings
Quality Distribution
December 31, 2016 vs. September 30, 2016
City of Dublin
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
AAA AA A <A NR
12/31/2016 9/30/2016
19
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
0 - 0.25 0.25 - 0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+
12/31/2016 9/30/2016
Duration Distribution
City of Dublin
December 31, 2016 vs. September 30, 2016
0 - 0.25 0.25 - 0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+
12/31/16 4.0% 4.1% 11.1% 17.7% 29.0% 22.3% 11.9% 0.0%
09/30/16 3.7% 5.0% 10.8% 21.8% 18.5% 24.2% 15.9% 0.0%
20
Investment Performance
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
1.40%
1.60%
12 months 2 years 3 years 5 years 10 years Since Inception
City of Dublin City of Dublin Custom Index*
City of Dublin
Period Ending
December 31, 2016
Total Rate of Return
Annualized Since Inception
October 31, 2013
Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending value; it
includes interest earnings, realized and unrealized gains and losses in the portfolio.
Annualized
3 months 12 months 2 years 3 years 5 years 10 years Since
Inception
City of Dublin -0.86% 1.34% 1.16% 1.05% N/A N/A 0.97%
BAML 1-5 Yr US Treasury/Agency Index -1.07% 1.09% 1.03% 0.90% N/A N/A 0.84%
21
Portfolio Characteristics
City of Dublin Reporting Account
12/31/2016 9/30/2016
Portfolio Portfolio
Average Maturity (yrs) 0.00 0.00
Modified Duration 0.00 0.00
Average Purchase Yield 0.67% 0.63%
Average Market Yield 0.67% 0.63%
Average Quality NR/NR NR/NR
Contributions/Withdrawals -1,200,000
Total Market Value 59,658,841 60,762,483
22
LAIF
83.8%
Local Gov
Investment Pool
16.2%
Sector Distribution
City of Dublin Reporting Account
December 31, 2016 September 30, 2016
LAIF
82.1%
Local Gov
Investment Pool
17.9%
23
Issuers
City of Dublin Reporting Account – Account #10219 As of 12/31/2016
Issue Name Investment Type % Portfolio
Local Agency Investment Fund LAIF 83.78%
CAMP Local Gov Investment Pool 16.22%
Total 100.00%
24
SECTION 3
Consolidated Information
25
Portfolio Characteristics
City of Dublin Consolidated
12/31/2016 9/30/2016
Portfolio Portfolio
Average Maturity (yrs) 1.89 1.87
Modified Duration 1.75 1.71
Average Purchase Yield 1.21% 1.14%
Average Market Yield 1.27% 0.93%
Average Quality** AA/Aa1 AA/Aa1
Contributions/Withdrawals
Total Market Value 206,309,654 208,690,154
26
ABS
5.5%
Agency
26.9%
Commercial
Paper
1.4%
LAIF
24.2%
Local Gov
Investment Pool
4.7%
Money Market
Fund FI
0.0%
Negotiable CD
0.9%
US Corporate
16.1%
US Treasury
20.3%
Sector Distribution
City of Dublin Consolidated
December 31, 2016 September 30, 2016
ABS
5.9%
Agency
29.6%
Commercial
Paper
1.4%
LAIF
23.9%
Local Gov
Investment Pool
5.2%
Money Market
Fund FI
0.4%
Negotiable CD
0.9%
US Corporate
15.5%
US Treasury
17.2%
27
SECTION 4
Portfolio Holdings
28
Holdings Report
For the Month Ending 12/31/2016
CUSIP Security Description Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
ABS
89231MAC9 Toyota Auto Receivables Owner 2014-A
0.670% Due 12/15/2017
153,217.33 Various
0.70%
153,156.89
153,215.94
99.96
1.33%
153,150.38
45.62
0.10%
(65.56)
Aaa / AAA
NR
0.96
0.08
89231TAB6 Toyota Auto Receivables Owner 2015-C
0.920% Due 02/15/2018
206,620.68 08/18/2015
0.69%
206,604.06
206,613.14
99.97
1.13%
206,568.61
84.48
0.14%
(44.53)
Aaa / AAA
NR
1.13
0.12
43814GAC4 Honda Auto Receivables 2014-2 A3
0.770% Due 03/19/2018
239,208.22 05/13/2014
0.29%
239,179.48
239,204.62
99.92
1.14%
239,007.29
66.51
0.16%
(197.33)
Aaa / AAA
NR
1.21
0.23
47787VAC5 John Deere Owner Trust 2014-A A3
0.920% Due 04/16/2018
321,386.68 04/02/2014
0.86%
321,335.19
321,381.82
99.96
1.14%
321,248.48
131.41
0.22%
(133.34)
Aaa / NR
AAA
1.29
0.20
43814NAB1 Honda Auto Receivables 2016-1 A2
1.010% Due 06/18/2018
901,780.05 02/16/2016
0.74%
901,689.96
901,723.16
99.97
1.11%
901,480.66
328.90
0.61%
(242.50)
NR / AAA
AAA
1.46
0.34
89236WAC2 Toyota Auto Receivables Owner 2015-A
1.120% Due 02/15/2019
822,076.09 02/24/2015
0.70%
821,951.80
822,028.86
99.95
1.22%
821,637.92
409.21
0.56%
(390.94)
Aaa / AAA
NR
2.13
0.54
47788NAB4 John Deere Owner Trust 2016-B A2
1.090% Due 02/15/2019
1,325,000.00 07/19/2016
1.04%
1,324,919.18
1,324,932.87
99.89
1.26%
1,323,476.25
641.89
0.90%
(1,456.62)
Aaa / NR
AAA
2.13
0.70
43813NAC0 Honda Auto Receivables 2015-2 A3
1.040% Due 02/21/2019
1,360,079.09 05/13/2015
0.49%
1,359,870.31
1,359,960.33
99.89
1.23%
1,358,631.97
392.91
0.93%
(1,328.36)
NR / AAA
AAA
2.14
0.57
65478WAB1 Nissan Auto Receivables Owner 2016-C A2A
1.070% Due 05/15/2019
930,000.00 08/02/2016
0.95%
929,963.36
929,968.59
99.83
1.30%
928,410.63
442.27
0.63%
(1,557.96)
Aaa / NR
AAA
2.37
0.76
89231LAB3 Toyota Auto Receivables Owner 2016-D
1.060% Due 05/15/2019
1,215,000.00 10/04/2016
0.99%
1,214,902.80
1,214,911.13
99.81
1.29%
1,212,672.06
572.40
0.83%
(2,239.07)
Aaa / AAA
NR
2.37
0.84
161571HH0 Chase CHAIT Pool #2016-A7
1.060% Due 09/16/2019
1,880,000.00 09/06/2016
0.91%
1,879,837.94
1,879,886.51
99.91
1.20%
1,878,291.08
885.69
1.28%
(1,595.43)
Aaa / AAA
AAA
2.71
0.68
47788MAC4 John Deere Owner Trust 2016-A A3
1.360% Due 04/15/2020
1,115,000.00 02/23/2016
1.21%
1,114,824.50
1,114,860.07
99.74
1.55%
1,112,078.70
673.96
0.76%
(2,781.37)
Aaa / NR
AAA
3.29
1.41
43814QAC2 Honda Auto Receivables 2016-2 A3
1.390% Due 04/15/2020
805,000.00 05/24/2016
1.32%
804,984.38
804,986.75
99.85
1.49%
803,752.25
497.31
0.55%
(1,234.50)
Aaa / NR
AAA
3.29
1.57
Total ABS 11,274,368.14 0.89%
11,273,219.85
11,273,673.79
1.28%
11,260,406.28
5,172.56
7.68%
(13,267.51)
Aaa / AAA
Aaa
2.34
0.75
Agency
3133ECMM3 FFCB Note
0.600% Due 04/25/2017
2,000,000.00 04/25/2013
0.62%
1,998,420.00
1,999,876.71
100.01
0.58%
2,000,114.00
2,200.00
1.37%
237.29
Aaa / AA+
AAA
0.32
0.32
3134G3Y53 FHLMC Callable Note 1X 11/28/14
0.850% Due 11/28/2017
4,000,000.00 11/28/2012
0.85%
4,000,000.00
4,000,000.00
99.97
0.89%
3,998,696.00
3,116.67
2.73%
(1,304.00)
Aaa / AA+
AAA
0.91
0.90
313381B20 FHLB Note
0.750% Due 12/08/2017
4,000,000.00 12/13/2012
0.75%
3,999,960.00
3,999,992.51
99.80
0.97%
3,991,828.00
1,916.67
2.72%
(8,164.51)
Aaa / AA+
AAA
0.94
0.93
3135G0TG8 FNMA Note
0.875% Due 02/08/2018
3,000,000.00 01/21/2015
0.97%
2,991,390.00
2,996,882.45
99.93
0.94%
2,997,960.00
10,427.08
2.05%
1,077.55
Aaa / AA+
AAA
1.11
1.09
3137EADP1 FHLMC Note
0.875% Due 03/07/2018
3,000,000.00 01/27/2015
1.01%
2,987,610.00
2,995,301.85
99.87
0.99%
2,996,109.00
8,312.50
2.05%
807.15
Aaa / AA+
AAA
1.18
1.17
City of Dublin - Account #10198
29
Holdings Report
For the Month Ending 12/31/2016
CUSIP Security Description Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
313378A43 FHLB Note
1.375% Due 03/09/2018
4,000,000.00 Various
0.96%
4,047,840.00
4,019,542.88
100.36
1.07%
4,014,308.00
17,111.12
2.75%
(5,234.88)
Aaa / AA+
AAA
1.19
1.17
313379DT3 FHLB Note
1.250% Due 06/08/2018
2,000,000.00 08/18/2015
1.12%
2,007,360.00
2,003,759.06
100.23
1.09%
2,004,552.00
1,597.22
1.37%
792.94
Aaa / AA+
AAA
1.44
1.42
3135G0G72 FNMA Note
1.125% Due 12/14/2018
2,500,000.00 12/18/2015
1.37%
2,481,975.00
2,488,215.06
99.79
1.23%
2,494,842.50
1,328.13
1.70%
6,627.44
Aaa / AA+
AAA
1.95
1.92
3133782M2 FHLB Note
1.500% Due 03/08/2019
2,750,000.00 04/24/2015
1.21%
2,779,892.50
2,766,863.52
100.30
1.36%
2,758,291.25
12,947.92
1.89%
(8,572.27)
Aaa / AA+
AAA
2.18
2.13
3137EADG1 FHLMC Note
1.750% Due 05/30/2019
1,000,000.00 01/29/2015
1.28%
1,019,690.00
1,010,947.19
100.94
1.35%
1,009,422.00
1,506.94
0.69%
(1,525.19)
Aaa / AA+
AAA
2.41
2.36
3135G0ZG1 FNMA Note
1.750% Due 09/12/2019
2,500,000.00 10/28/2014
1.68%
2,508,350.00
2,504,618.55
100.95
1.39%
2,523,750.00
13,246.53
1.73%
19,131.45
Aaa / AA+
AAA
2.70
2.62
3137EADM8 FHLMC Note
1.250% Due 10/02/2019
2,500,000.00 12/18/2015
1.64%
2,464,700.00
2,474,336.57
99.42
1.47%
2,485,377.50
7,725.69
1.70%
11,040.93
Aaa / AA+
AAA
2.75
2.69
3135G0A78 FNMA Note
1.625% Due 01/21/2020
2,000,000.00 04/07/2015
1.44%
2,016,580.00
2,010,569.87
100.30
1.53%
2,005,920.00
14,444.44
1.38%
(4,649.87)
Aaa / AA+
AAA
3.06
2.95
313383HU8 FHLB Note
1.750% Due 06/12/2020
2,000,000.00 10/08/2015
1.46%
2,026,040.00
2,019,179.34
100.08
1.73%
2,001,572.00
1,847.22
1.37%
(17,607.34)
Aaa / AA+
NR
3.45
3.33
3135G0F73 FNMA Note
1.500% Due 11/30/2020
2,500,000.00 12/04/2015
1.87%
2,455,750.00
2,465,256.46
98.75
1.83%
2,468,637.50
3,229.17
1.69%
3,381.04
Aaa / AA+
AAA
3.92
3.78
3130A7CV5 FHLB Note
1.375% Due 02/18/2021
3,470,000.00 Various
1.45%
3,457,221.20
3,459,391.01
98.11
1.85%
3,404,281.67
17,627.12
2.33%
(55,109.34)
Aaa / AA+
AAA
4.14
3.97
3135G0J20 FNMA Note
1.375% Due 02/26/2021
5,000,000.00 Various
1.29%
5,018,675.00
5,016,860.35
98.05
1.86%
4,902,525.00
23,871.52
3.36%
(114,335.35)
Aaa / AA+
AAA
4.16
3.99
3130A8QS5 FHLB Note
1.125% Due 07/14/2021
2,500,000.00 07/25/2016
1.28%
2,481,475.00
2,483,098.75
96.53
1.93%
2,413,150.00
13,046.88
1.65%
(69,948.75)
Aaa / AA+
AAA
4.54
4.37
3137EAEC9 FHLMC Note
1.125% Due 08/12/2021
3,000,000.00 Various
1.33%
2,971,215.00
2,973,069.64
96.28
1.97%
2,888,271.00
13,031.26
1.98%
(84,798.64)
Aaa / AA+
AAA
4.62
4.44
3135G0Q89 FNMA Note
1.375% Due 10/07/2021
2,000,000.00 10/06/2016
1.45%
1,992,924.00
1,993,257.26
97.29
1.97%
1,945,740.00
6,416.67
1.33%
(47,517.26)
Aaa / AA+
AAA
4.77
4.57
Total Agency 55,720,000.00 1.22%
55,707,067.70
55,681,019.03
1.39%
55,305,347.42
174,950.75
37.83%
(375,671.61)
Aaa / AA+
Aaa
2.54
2.46
Commercial Paper
06538BQ63 Bank of Tokyo Mitsubishi NY Discount CP
1.030% Due 03/06/2017
2,960,000.00 10/26/2016
1.05%
2,948,990.46
2,954,579.92
99.82
1.05%
2,954,579.92
0.00
2.01%
0.00
P-1 / A-1
NR
0.18
0.18
Total Commercial Paper 2,960,000.00 1.05%
2,948,990.46
2,954,579.92
1.05%
2,954,579.92
0.00
2.01%
0.00
P-1 / A-1
NR
0.18
0.18
City of Dublin - Account #10198
30
Holdings Report
For the Month Ending 12/31/2016
CUSIP Security Description Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
Money Market Fund FI
31846V203 First American Govt Obligation Fund
89,051.91 Various
0.01%
89,051.91
89,051.91
1.00
0.01%
89,051.91
0.00
0.06%
0.00
Aaa / NR
NR
0.00
0.00
Total Money Market Fund FI 89,051.91 0.01%
89,051.91
89,051.91
0.01%
89,051.91
0.00
0.06%
0.00
Aaa / NR
NR
0.00
0.00
Negotiable CD
06417GNP9 Bank of Nova Scotia Yankee CD
1.260% Due 03/01/2017
1,850,000.00 08/29/2016
1.26%
1,849,999.59
1,849,999.87
100.00
1.26%
1,849,999.87
8,093.75
1.27%
0.00
P-1 / A-1
F-1+
0.16
0.16
Total Negotiable CD 1,850,000.00 1.26%
1,849,999.59
1,849,999.87
1.26%
1,849,999.87
8,093.75
1.27%
0.00
Aaa / AA
Aaa
0.16
0.16
US Corporate
91159HHD5 US Bancorp Callable Note Cont 4/15/2017
1.650% Due 05/15/2017
1,500,000.00 08/12/2016
0.95%
1,506,885.00
1,502,971.12
100.14
1.14%
1,502,137.50
3,162.50
1.03%
(833.62)
A1 / A+
AA
0.37
0.29
913017BU2 United Tech Corp Note
1.800% Due 06/01/2017
1,600,000.00 06/22/2015
1.04%
1,623,360.00
1,604,989.19
100.26
1.17%
1,604,180.80
2,400.00
1.10%
(808.39)
A3 / A-
A-
0.42
0.41
36962G6K5 General Electric Capital Corp Note
1.600% Due 11/20/2017
750,000.00 10/28/2014
1.31%
756,577.50
751,903.70
100.27
1.30%
752,002.50
1,366.67
0.51%
98.80
A1 / AA-
AA-
0.89
0.88
40428HPH9 HSBC USA Inc Note
1.625% Due 01/16/2018
500,000.00 11/25/2013
1.69%
498,705.00
499,674.32
99.83
1.79%
499,125.50
3,723.96
0.34%
(548.82)
A2 / A
AA-
1.04
1.02
713448CR7 PepsiCo Inc Note
1.250% Due 04/30/2018
1,430,000.00 Various
1.26%
1,429,428.40
1,429,747.37
99.87
1.35%
1,428,199.63
3,028.82
0.98%
(1,547.74)
A1 / A
A
1.33
1.32
037833AJ9 Apple Inc Note
1.000% Due 05/03/2018
1,750,000.00 Various
1.34%
1,726,740.00
1,742,213.83
99.63
1.28%
1,743,437.50
2,819.44
1.19%
1,223.67
Aa1 / AA+
NR
1.34
1.32
166764AE0 Chevron Corp Callable Note Cont 5/24/2018
1.718% Due 06/24/2018
1,750,000.00 Various
1.57%
1,758,299.00
1,753,783.84
100.31
1.49%
1,755,358.50
584.60
1.20%
1,574.66
Aa2 / AA-
NR
1.48
1.38
06406HCL1 Bank of New York Callable Note Cont 7/2/2018
2.100% Due 08/01/2018
1,000,000.00 02/05/2014
1.94%
1,006,820.00
1,002,327.22
100.80
1.56%
1,007,965.00
8,750.00
0.69%
5,637.78
A1 / A
AA-
1.58
1.47
084664BY6 Berkshire Hathaway Note
2.000% Due 08/15/2018
1,000,000.00 12/12/2013
1.89%
1,004,960.00
1,001,722.30
100.71
1.55%
1,007,122.00
7,555.56
0.69%
5,399.70
Aa2 / AA
A+
1.62
1.58
17275RAR3 Cisco Systems Note
2.125% Due 03/01/2019
1,350,000.00 11/14/2014
2.05%
1,354,063.50
1,352,051.25
101.32
1.50%
1,367,790.30
9,562.50
0.94%
15,739.05
A1 / AA-
NR
2.16
2.10
532457BF4 Eli Lilly & Co Note
1.950% Due 03/15/2019
1,575,000.00 Various
1.91%
1,577,796.75
1,576,431.41
100.62
1.66%
1,584,785.48
9,043.13
1.09%
8,354.07
A2 / AA-
A
2.20
2.14
94974BFU9 Wells Fargo Corp Note
2.125% Due 04/22/2019
1,900,000.00 Various
2.07%
1,904,120.50
1,902,414.63
100.32
1.98%
1,906,148.40
7,738.54
1.31%
3,733.77
A2 / A
AA-
2.31
2.23
02665WAH4 American Honda Finance Note
2.250% Due 08/15/2019
1,800,000.00 Various
2.08%
1,812,627.00
1,807,773.53
100.97
1.87%
1,817,526.60
15,300.00
1.25%
9,753.07
A1 / A+
NR
2.62
2.52
06406HCW7 Bank of New York Callable Note Cont 8/11/2019
2.300% Due 09/11/2019
750,000.00 04/22/2015
1.82%
764,722.50
758,944.37
100.82
1.97%
756,180.00
5,270.83
0.52%
(2,764.37)
A1 / A
AA-
2.70
2.51
City of Dublin - Account #10198
31
Holdings Report
For the Month Ending 12/31/2016
CUSIP Security Description Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
68389XAX3 Oracle Corp Note
2.250% Due 10/08/2019
1,250,000.00 Various
1.73%
1,272,172.50
1,267,355.64
101.21
1.80%
1,265,158.75
6,484.38
0.87%
(2,196.89)
A1 / AA-
A+
2.77
2.66
40428HPN6 HSBC USA Inc Note
2.375% Due 11/13/2019
1,000,000.00 11/07/2014
2.32%
1,002,440.00
1,001,397.72
100.26
2.28%
1,002,575.00
3,166.67
0.69%
1,177.28
A2 / A
AA-
2.87
2.75
46625HKA7 JP Morgan Chase Callable Note Cont 12/23/2019
2.250% Due 01/23/2020
1,800,000.00 Various
2.37%
1,790,172.00
1,793,642.27
99.76
2.33%
1,795,762.80
17,775.00
1.24%
2,120.53
A3 / A-
A+
3.06
2.91
713448CS5 PepsiCo Inc Callable Note Cont 3/30/2020
1.850% Due 04/30/2020
1,330,000.00 04/27/2015
1.86%
1,329,241.90
1,329,495.84
99.13
2.13%
1,318,391.76
4,169.18
0.90%
(11,104.08)
A1 / A
A
3.33
3.13
747525AD5 Qualcomm Inc Note
2.250% Due 05/20/2020
1,715,000.00 05/19/2015
2.27%
1,713,347.20
1,713,881.53
100.01
2.25%
1,715,125.20
4,394.69
1.17%
1,243.67
A1 / A+
NR
3.39
3.24
24422ESY6 John Deere Capital Corp Note
2.375% Due 07/14/2020
1,000,000.00 09/15/2016
1.69%
1,025,153.50
1,023,293.63
100.30
2.29%
1,002,967.00
11,017.36
0.69%
(20,326.63)
A2 / A
A
3.54
3.34
24422ETF6 John Deere Capital Corp Note
2.550% Due 01/08/2021
750,000.00 Various
2.42%
753,733.15
753,706.55
100.42
2.44%
753,131.26
9,190.62
0.52%
(575.29)
A2 / A
A
4.02
3.75
30231GAV4 Exxon Mobil Corp Callable Note Cont 2/1/2021
2.222% Due 03/01/2021
1,800,000.00 Various
2.06%
1,813,024.00
1,811,377.29
100.23
2.16%
1,804,123.80
13,332.00
1.24%
(7,253.49)
Aaa / AA+
NR
4.17
3.93
857477AV5 State Street Bank Note
1.950% Due 05/19/2021
1,800,000.00 Various
1.91%
1,802,989.00
1,802,917.24
97.99
2.44%
1,763,857.81
4,095.01
1.21%
(39,059.43)
A1 / A
AA-
4.38
4.16
594918BP8 Microsoft Callable Note Cont 7/8/21
1.550% Due 08/08/2021
1,850,000.00 Various
1.59%
1,846,471.85
1,846,710.32
96.99
2.24%
1,794,337.20
11,390.35
1.23%
(52,373.12)
Aaa / AAA
AA+
4.61
4.38
Total US Corporate 32,950,000.00 1.80%
33,073,850.25
33,030,726.11
1.84%
32,947,390.29
165,321.81
22.58%
(83,335.82)
A1 / A+
A+
2.50
2.38
US Treasury
912828RH5 US Treasury Note
1.375% Due 09/30/2018
2,000,000.00 10/30/2014
1.32%
2,004,459.82
2,001,986.65
100.38
1.16%
2,007,500.00
7,026.10
1.37%
5,513.35
Aaa / AA+
AAA
1.75
1.72
912828C24 US Treasury Note
1.500% Due 02/28/2019
3,000,000.00 08/18/2014
1.50%
3,000,595.98
3,000,283.94
100.55
1.24%
3,016,407.00
15,290.06
2.07%
16,123.06
Aaa / AA+
AAA
2.16
2.11
912828D80 US Treasury Note
1.625% Due 08/31/2019
3,000,000.00 Various
1.78%
2,977,822.56
2,988,096.38
100.69
1.36%
3,020,742.00
16,564.23
2.07%
32,645.62
Aaa / AA+
AAA
2.67
2.59
912828G61 US Treasury Note
1.500% Due 11/30/2019
6,500,000.00 Various
1.45%
6,510,978.81
6,508,341.60
100.21
1.43%
6,513,455.00
8,571.43
4.45%
5,113.40
Aaa / AA+
AAA
2.92
2.84
912828G95 US Treasury Note
1.625% Due 12/31/2019
3,000,000.00 01/08/2015
1.50%
3,017,470.99
3,010,542.34
100.49
1.46%
3,014,766.00
134.67
2.06%
4,223.66
Aaa / AA+
AAA
3.00
2.92
912828H52 US Treasury Note
1.250% Due 01/31/2020
4,500,000.00 Various
1.53%
4,440,542.42
4,462,749.55
99.27
1.49%
4,466,952.00
23,539.41
3.06%
4,202.45
Aaa / AA+
AAA
3.08
3.00
912828K58 US Treasury Note
1.375% Due 04/30/2020
1,750,000.00 05/06/2015
1.55%
1,735,171.88
1,740,101.01
99.36
1.57%
1,738,721.25
4,121.20
1.19%
(1,379.76)
Aaa / AA+
AAA
3.33
3.23
912828XE5 US Treasury Note
1.500% Due 05/31/2020
3,000,000.00 Various
1.67%
2,976,025.68
2,983,351.55
99.70
1.59%
2,990,859.00
3,956.04
2.04%
7,507.45
Aaa / AA+
AAA
3.42
3.31
912828XM7 US Treasury Note
1.625% Due 07/31/2020
1,500,000.00 09/08/2015
1.52%
1,507,622.21
1,505,574.83
99.93
1.64%
1,499,004.00
10,200.41
1.03%
(6,570.83)
Aaa / AA+
AAA
3.58
3.44
City of Dublin - Account #10198
32
Holdings Report
For the Month Ending 12/31/2016
CUSIP Security Description Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
912828L99 US Treasury Note
1.375% Due 10/31/2020
5,000,000.00 Various
1.69%
4,927,376.14
4,943,239.10
98.77
1.71%
4,938,670.00
11,774.86
3.38%
(4,569.10)
Aaa / AA+
AAA
3.84
3.70
912828N89 US Treasury Note
1.375% Due 01/31/2021
2,000,000.00 03/15/2016
1.49%
1,988,834.83
1,990,658.10
98.40
1.78%
1,968,046.00
11,508.15
1.35%
(22,612.10)
Aaa / AA+
AAA
4.09
3.93
912828S76 US Treasury Note
1.125% Due 07/31/2021
1,500,000.00 12/12/2016
1.89%
1,449,262.83
1,449,832.91
96.66
1.89%
1,449,961.50
7,061.82
0.99%
128.59
Aaa / AA+
AAA
4.58
4.42
912828T34 US Treasury Note
1.125% Due 09/30/2021
2,750,000.00 Various
1.65%
2,682,431.10
2,683,717.96
96.46
1.91%
2,652,567.50
7,904.36
1.81%
(31,150.46)
Aaa / AA+
AAA
4.75
4.58
912828U65 US Treasury Note
1.750% Due 11/30/2021
2,500,000.00 12/28/2016
2.06%
2,464,461.50
2,464,520.83
99.25
1.91%
2,481,347.50
3,846.15
1.69%
16,826.67
Aaa / AA+
AAA
4.92
4.68
Total US Treasury 42,000,000.00 1.60%
41,683,056.75
41,732,996.75
1.56%
41,758,998.75
131,498.89
28.56%
26,002.00
Aaa / AA+
Aaa
3.35
3.24
TOTAL PORTFOLIO 146,843,420.05 1.43%
146,625,236.51
146,612,047.38 1.52%
146,165,774.44
485,037.76
100.00%
(446,272.94)
Aa1 / AA
Aaa
2.67
2.46
TOTAL MARKET VALUE PLUS ACCRUALS 146,650,812.20
City of Dublin - Account #10198
33
Holdings Report
For the Month Ending 12/31/2016
CUSIP Security Description Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
LAIF
90LAIF$00 Local Agency Investment Fund State Pool
49,893,580.80 Various
0.67%
49,893,580.80
49,893,580.80
1.00
0.67%
49,893,580.80
85,986.56
83.78%
0.00
NR / NR
NR
0.00
0.00
Total LAIF 49,893,580.80 0.67%
49,893,580.80
49,893,580.80
0.67%
49,893,580.80
85,986.56
83.78%
0.00
NR / NR
NR
0.00
0.00
Local Gov Investment Pool
90CAMP$00 Public Financial Management CAMP
9,679,274.04 Various
0.66%
9,679,274.04
9,679,274.04
1.00
0.66%
9,679,274.04
0.00
16.22%
0.00
NR / NR
NR
0.00
0.00
Total Local Gov Investment Pool 9,679,274.04 0.66%
9,679,274.04
9,679,274.04
0.66%
9,679,274.04
0.00
16.22%
0.00
NR / NR
NR
0.00
0.00
TOTAL PORTFOLIO 59,572,854.84 0.67%
59,572,854.84
59,572,854.84 0.67%
59,572,854.84
85,986.56
100.00%
0.00
NR / NR
NR
0.00
0.00
TOTAL MARKET VALUE PLUS ACCRUALS 59,658,841.40
City of Dublin Reporting Account - Account #10219
34
SECTION 5
Transactions
35
Transaction Ledger
City of Dublin - Account #10198
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 10/07/2016 3135G0Q89 2,000,000.00 FNMA Note
1.375% Due: 10/07/2021 99.646 1.45% 1,992,924.00 0.00 1,992,924.00 0.00
Purchase 10/12/2016 89231LAB3 1,215,000.00 Toyota Auto Receivables Owner 2016-D
1.06% Due: 05/15/2019 99.992 1.07% 1,214,902.80 0.00 1,214,902.80 0.00
Purchase 10/27/2016 06538BQ63 2,960,000.00 Bank of Tokyo Mitsubishi NY Discount CP
1.03% Due: 03/06/2017 99.628 1.05% 2,948,990.46 0.00 2,948,990.46 0.00
Purchase 10/28/2016 857477AV5 785,000.00 State Street Bank Note
1.95% Due: 05/19/2021 100.448 1.85% 788,516.80 6,760.82 795,277.62 0.00
Purchase 11/10/2016 912828T34 1,500,000.00 US Treasury Note
1.125% Due: 09/30/2021 98.340 1.48% 1,475,102.69 1,900.76 1,477,003.45 0.00
Purchase 11/16/2016 912828T34 250,000.00 US Treasury Note
1.125% Due: 09/30/2021 97.368 1.69% 243,418.81 363.15 243,781.96 0.00
Purchase 12/02/2016 24422ETF6 485,000.00 John Deere Capital Corp Note
2.55% Due: 01/08/2021 100.826 2.34% 489,006.10 4,947.00 493,953.10 0.00
Purchase 12/13/2016 912828S76 1,500,000.00 US Treasury Note
1.125% Due: 07/31/2021 96.618 1.89% 1,449,262.83 6,190.56 1,455,453.39 0.00
Purchase 12/13/2016 912828T34 1,000,000.00 US Treasury Note
1.125% Due: 09/30/2021 96.391 1.92% 963,909.60 2,287.09 966,196.69 0.00
Purchase 12/29/2016 912828U65 2,500,000.00 US Treasury Note
1.75% Due: 11/30/2021 98.578 2.06% 2,464,461.50 3,485.58 2,467,947.08 0.00
Subtotal 14,195,000.00 14,030,495.59 25,934.96 14,056,430.55 0.00
TOTAL ACQUISITIONS 14,195,000.00 14,030,495.59 25,934.96 14,056,430.55 0.00
DISPOSITIONS
Sale 10/05/2016 3137EADT3 1,500,000.00 FHLMC Note
0.875% Due: 02/22/2017 100.138 0.51% 1,502,070.00 1,567.71 1,503,637.71 1208.81
Sale 10/07/2016 3133ECG99 2,000,000.00 FFCB Note
0.66% Due: 02/22/2017 100.076 0.46% 2,001,520.00 1,650.00 2,003,170.00 1148.31
Sale 12/13/2016 3133ECMM3 3,000,000.00 FFCB Note
0.6% Due: 04/25/2017 99.984 0.64% 2,999,520.00 2,400.00 3,001,920.00 -264.25
September 30, 2016 through December 31, 2016
36
Transaction Ledger
City of Dublin - Account #10198
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
Sale 12/29/2016 3135G0ZL0 1,075,000.00 FNMA Note
1% Due: 09/27/2017 100.092 0.88% 1,075,989.00 2,747.22 1,078,736.22 1913.60
Subtotal 7,575,000.00 7,579,099.00 8,364.93 7,587,463.93 4,006.47
Maturity 10/26/2016 06538BKS1 2,950,000.00 Bank of Tokyo Mitsubishi NY Discount CP
0.74% Due: 10/26/2016 99.753 2,950,000.00 0.00 2,950,000.00 0.00
Subtotal 2,950,000.00 2,950,000.00 0.00 2,950,000.00 0.00
TOTAL DISPOSITIONS 12,858,426.31 12,862,525.31 41,514.71 12,904,040.02 4,006.47
September 30, 2016 through December 31, 2016
37
Transaction Ledger
City of Dublin Reporting Account - Account #10219
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 10/15/2016 90LAIF$00 75,233.68 Local Agency Investment Fund State Pool 1.000 0.63% 75,233.68 0.00 75,233.68 0.00
Purchase 10/31/2016 90CAMP$00 5,818.66 Public Financial Management CAMP 1.000 0.61% 5,818.66 0.00 5,818.66 0.00
Purchase 11/30/2016 90CAMP$00 2,606.78 Public Financial Management CAMP 1.000 0.66% 2,606.78 0.00 2,606.78 0.00
Purchase 12/31/2016 90CAMP$00 3,132.73 Public Financial Management CAMP 1.000 0.66% 3,132.73 0.00 3,132.73 0.00
Subtotal 86,791.85 86,791.85 0.00 86,791.85 0.00
Security
Contribution 10/21/2016 90CAMP$00 1,300,000.00 Public Financial Management CAMP 1.000 1,300,000.00 0.00 1,300,000.00 0.00
Security
Contribution 12/22/2016 90CAMP$00 7,500,000.00 Public Financial Management CAMP 1.000 7,500,000.00 0.00 7,500,000.00 0.00
Subtotal 8,800,000.00 8,800,000.00 0.00 8,800,000.00 0.00
TOTAL ACQUISITIONS 8,886,791.85 8,886,791.85 0.00 8,886,791.85 0.00
DISPOSITIONS
Security
Withdrawal 10/28/2016 90CAMP$00 7,200,000.00 Public Financial Management CAMP 1.000 7,200,000.00 0.00 7,200,000.00 0.00
Security
Withdrawal 11/28/2016 90CAMP$00 1,200,000.00 Public Financial Management CAMP 1.000 1,200,000.00 0.00 1,200,000.00 0.00
Security
Withdrawal 12/05/2016 90CAMP$00 770,000.00 Public Financial Management CAMP 1.000 770,000.00 0.00 770,000.00 0.00
Security
Withdrawal 12/12/2016 90CAMP$00 830,000.00 Public Financial Management CAMP 1.000 830,000.00 0.00 830,000.00 0.00
Subtotal 10,000,000.00 10,000,000.00 0.00 10,000,000.00 0.00
TOTAL DISPOSITIONS 10,000,000.00 10,000,000.00 0.00 10,000,000.00 0.00
September 30, 2016 through December 31, 2016
38
Transaction Ledger
9/30/16 Thru 10/31/16
City of Dublin Consolidated
Account #10221
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 10/02/2016 31846V203 15,625.00 First American Govt Obligation Fund 1.000 0.01 %15,625.00 0.00 15,625.00 0.00
Purchase 10/03/2016 31846V203 7.30 First American Govt Obligation Fund 1.000 0.01 %7.30 0.00 7.30 0.00
Purchase 10/05/2016 31846V203 1,503,637.71 First American Govt Obligation Fund 1.000 0.01 %1,503,637.71 0.00 1,503,637.71 0.00
Purchase 10/07/2016 3135G0Q89 2,000,000.00 FNMA Note
1.375% Due 10/7/2021
99.646 1.45 %1,992,924.00 0.00 1,992,924.00 0.00
Purchase 10/07/2016 31846V203 10,246.00 First American Govt Obligation Fund 1.000 0.01 %10,246.00 0.00 10,246.00 0.00
Purchase 10/08/2016 31846V203 14,062.50 First American Govt Obligation Fund 1.000 0.01 %14,062.50 0.00 14,062.50 0.00
Purchase 10/12/2016 89231LAB3 1,215,000.00 Toyota Auto Receivables Owner 2016-D
1.06% Due 5/15/2019
99.992 1.07 %1,214,902.80 0.00 1,214,902.80 0.00
Purchase 10/15/2016 90LAIF$00 75,233.68 Local Agency Investment Fund State Pool 1.000 0.63 %75,233.68 0.00 75,233.68 0.00
Purchase 10/17/2016 31846V203 829.25 First American Govt Obligation Fund 1.000 0.01 %829.25 0.00 829.25 0.00
Purchase 10/17/2016 31846V203 1,203.54 First American Govt Obligation Fund 1.000 0.01 %1,203.54 0.00 1,203.54 0.00
Purchase 10/17/2016 31846V203 1,263.67 First American Govt Obligation Fund 1.000 0.01 %1,263.67 0.00 1,263.67 0.00
Purchase 10/17/2016 31846V203 932.46 First American Govt Obligation Fund 1.000 0.01 %932.46 0.00 932.46 0.00
Purchase 10/17/2016 31846V203 1,000,841.67 First American Govt Obligation Fund 1.000 0.01 %1,000,841.67 0.00 1,000,841.67 0.00
Purchase 10/17/2016 31846V203 53,695.72 First American Govt Obligation Fund 1.000 0.01 %53,695.72 0.00 53,695.72 0.00
Purchase 10/17/2016 31846V203 73,915.89 First American Govt Obligation Fund 1.000 0.01 %73,915.89 0.00 73,915.89 0.00
Purchase 10/17/2016 31846V203 68,486.59 First American Govt Obligation Fund 1.000 0.01 %68,486.59 0.00 68,486.59 0.00
Purchase 10/17/2016 31846V203 62,448.69 First American Govt Obligation Fund 1.000 0.01 %62,448.69 0.00 62,448.69 0.00
Purchase 10/18/2016 31846V203 1,771.38 First American Govt Obligation Fund 1.000 0.01 %1,771.38 0.00 1,771.38 0.00
Purchase 10/18/2016 31846V203 46,590.09 First American Govt Obligation Fund 1.000 0.01 %46,590.09 0.00 46,590.09 0.00
Purchase 10/18/2016 31846V203 20,612.06 First American Govt Obligation Fund 1.000 0.01 %20,612.06 0.00 20,612.06 0.00
Purchase 10/21/2016 31846V203 1,317.33 First American Govt Obligation Fund 1.000 0.01 %1,317.33 0.00 1,317.33 0.00
Purchase 10/22/2016 31846V203 20,187.50 First American Govt Obligation Fund 1.000 0.01 %20,187.50 0.00 20,187.50 0.00
Purchase 10/25/2016 31846V203 15,000.00 First American Govt Obligation Fund 1.000 0.01 %15,000.00 0.00 15,000.00 0.00
Purchase 10/26/2016 31846V203 2,950,000.00 First American Govt Obligation Fund 1.000 0.01 %2,950,000.00 0.00 2,950,000.00 0.00
Purchase 10/27/2016 06538BQ63 2,960,000.00 Bank of Tokyo Mitsubishi NY Discount CP
1.03% Due 3/6/2017
99.628 1.05 %2,948,990.46 0.00 2,948,990.46 0.00
Purchase 10/28/2016 857477AV5 785,000.00 State Street Bank Note
1.95% Due 5/19/2021
100.448 1.85 %788,516.80 6,760.82 795,277.62 0.00
Purchase 10/30/2016 31846V203 21,240.00 First American Govt Obligation Fund 1.000 0.01 %21,240.00 0.00 21,240.00 0.00
Purchase 10/31/2016 31846V203 46,406.25 First American Govt Obligation Fund 1.000 0.01 %46,406.25 0.00 46,406.25 0.00
Execution Time: 11/23/2016 11:27:52 AMChandler Asset Management - CONFIDENTIAL Page 7
Transaction Ledger
9/30/16 Thru 10/31/16
City of Dublin Consolidated
Account #10221
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 10/31/2016 90CAMP$00 5,818.66 Public Financial Management CAMP 1.000 0.61 %5,818.66 0.00 5,818.66 0.00
Subtotal 12,971,372.94 12,956,707.00 6,760.82 12,963,467.82 0.00
Security
Contribution
10/21/2016 90CAMP$00 1,300,000.00 Public Financial Management CAMP 1.000 1,300,000.00 0.00 1,300,000.00 0.00
Subtotal 1,300,000.00 1,300,000.00 0.00 1,300,000.00 0.00
TOTAL ACQUISITIONS 14,271,372.94 14,256,707.00 6,760.82 14,263,467.82 0.00
DISPOSITIONS
Sale 10/05/2016 3137EADT3 1,500,000.00 FHLMC Note
0.875% Due 2/22/2017
100.138 0.51 %1,502,070.00 1,567.71 1,503,637.71 1,208.81
Sale 10/07/2016 3133ECG99 2,000,000.00 FFCB Note
0.66% Due 2/22/2017
100.076 0.46 %2,001,520.00 1,650.00 2,003,170.00 1,148.31
Sale 10/12/2016 31846V203 1,214,902.80 First American Govt Obligation Fund 1.000 0.01 %1,214,902.80 0.00 1,214,902.80 0.00
Sale 10/27/2016 31846V203 2,948,990.46 First American Govt Obligation Fund 1.000 0.01 %2,948,990.46 0.00 2,948,990.46 0.00
Sale 10/28/2016 31846V203 795,277.62 First American Govt Obligation Fund 1.000 0.01 %795,277.62 0.00 795,277.62 0.00
Subtotal 8,459,170.88 8,462,760.88 3,217.71 8,465,978.59 2,357.12
Paydown 10/17/2016 161571GC2 1,000,000.00 Chase CHAIT Pool #2013-A8
1.01% Due 10/15/2018
100.000 1,000,000.00 841.67 1,000,841.67 0.00
Paydown 10/17/2016 43814QAC2 0.00 Honda Auto Receivables 2016-2 A3
1.39% Due 4/15/2020
100.000 0.00 932.46 932.46 0.00
Paydown 10/17/2016 47787VAC5 53,299.07 John Deere Owner Trust 2014-A A3
0.92% Due 4/16/2018
100.000 53,299.07 396.65 53,695.72 0.00
Paydown 10/17/2016 47788MAC4 0.00 John Deere Owner Trust 2016-A A3
1.36% Due 4/15/2020
100.000 0.00 1,263.67 1,263.67 0.00
Paydown 10/17/2016 47788NAB4 0.00 John Deere Owner Trust 2016-B A2
1.09% Due 2/15/2019
100.000 0.00 1,203.54 1,203.54 0.00
Paydown 10/17/2016 65478WAB1 0.00 Nissan Auto Receivables Owner 2016-C
A2A
1.07% Due 5/15/2019
100.000 0.00 829.25 829.25 0.00
Paydown 10/17/2016 89231MAC9 73,715.61 Toyota Auto Receivables Owner 2014-A
0.67% Due 12/15/2017
100.000 73,715.61 200.28 73,915.89 0.00
Paydown 10/17/2016 89231TAB6 68,179.14 Toyota Auto Receivables Owner 2015-C
0.92% Due 2/15/2018
100.000 68,179.14 307.45 68,486.59 0.00
Execution Time: 11/23/2016 11:27:52 AMChandler Asset Management - CONFIDENTIAL Page 8
Transaction Ledger
9/30/16 Thru 10/31/16
City of Dublin Consolidated
Account #10221
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
DISPOSITIONS
Paydown 10/17/2016 89236WAC2 61,492.02 Toyota Auto Receivables Owner 2015-A
1.12% Due 2/15/2019
100.000 61,492.02 956.67 62,448.69 0.00
Paydown 10/18/2016 161571HH0 0.00 Chase CHAIT Pool #2016-A7
1.06% Due 9/16/2019
100.000 0.00 1,771.38 1,771.38 0.00
Paydown 10/18/2016 43814GAC4 46,352.24 Honda Auto Receivables 2014-2 A3
0.77% Due 3/19/2018
100.000 46,352.24 237.85 46,590.09 0.00
Paydown 10/18/2016 43814NAB1 19,648.35 Honda Auto Receivables 2016-1 A2
1.01% Due 6/18/2018
100.000 19,648.35 963.71 20,612.06 0.00
Paydown 10/21/2016 43813NAC0 0.00 Honda Auto Receivables 2015-2 A3
1.04% Due 2/21/2019
100.000 0.00 1,317.33 1,317.33 0.00
Subtotal 1,322,686.43 1,322,686.43 11,221.91 1,333,908.34 0.00
Maturity 10/26/2016 06538BKS1 2,950,000.00 Bank of Tokyo Mitsubishi NY Discount CP
0.74% Due 10/26/2016
99.753 2,950,000.00 0.00 2,950,000.00 0.00
Subtotal 2,950,000.00 2,950,000.00 0.00 2,950,000.00 0.00
Security
Withdrawal
10/25/2016 31846V203 104.17 First American Govt Obligation Fund 1.000 104.17 0.00 104.17 0.00
Security
Withdrawal
10/28/2016 90CAMP$00 7,200,000.00 Public Financial Management CAMP 1.000 7,200,000.00 0.00 7,200,000.00 0.00
Subtotal 7,200,104.17 7,200,104.17 0.00 7,200,104.17 0.00
TOTAL DISPOSITIONS 19,931,961.48 19,935,551.48 14,439.62 19,949,991.10 2,357.12
OTHER TRANSACTIONS
Interest 10/02/2016 3137EADM8 2,500,000.00 FHLMC Note
1.25% Due 10/2/2019
0.000 15,625.00 0.00 15,625.00 0.00
Interest 10/08/2016 68389XAX3 1,250,000.00 Oracle Corp Note
2.25% Due 10/8/2019
0.000 14,062.50 0.00 14,062.50 0.00
Interest 10/22/2016 94974BFU9 1,900,000.00 Wells Fargo Corp Note
2.125% Due 4/22/2019
0.000 20,187.50 0.00 20,187.50 0.00
Interest 10/25/2016 3133ECMM3 5,000,000.00 FFCB Note
0.6% Due 4/25/2017
0.000 15,000.00 0.00 15,000.00 0.00
Interest 10/30/2016 713448CR7 1,430,000.00 PepsiCo Inc Note
1.25% Due 4/30/2018
0.000 8,937.50 0.00 8,937.50 0.00
Interest 10/30/2016 713448CS5 1,330,000.00 PepsiCo Inc Callable Note Cont 3/30/2020
1.85% Due 4/30/2020
0.000 12,302.50 0.00 12,302.50 0.00
Interest 10/31/2016 912828K58 1,750,000.00 US Treasury Note
1.375% Due 4/30/2020
0.000 12,031.25 0.00 12,031.25 0.00
Execution Time: 11/23/2016 11:27:52 AMChandler Asset Management - CONFIDENTIAL Page 9
Transaction Ledger
9/30/16 Thru 10/31/16
City of Dublin Consolidated
Account #10221
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
OTHER TRANSACTIONS
Interest 10/31/2016 912828L99 5,000,000.00 US Treasury Note
1.375% Due 10/31/2020
0.000 34,375.00 0.00 34,375.00 0.00
Subtotal 20,160,000.00 132,521.25 0.00 132,521.25 0.00
Dividend 10/03/2016 31846V203 820,307.25 First American Govt Obligation Fund 0.000 7.30 0.00 7.30 0.00
Dividend 10/15/2016 90LAIF$00 4,554,350,592.7
6
Local Agency Investment Fund State Pool 0.000 75,233.68 0.00 75,233.68 0.00
Dividend 10/31/2016 90CAMP$00 10,867,715.87 Public Financial Management CAMP 0.000 5,818.66 0.00 5,818.66 0.00
Subtotal 4,566,038,615.8
8
81,059.64 0.00 81,059.64 0.00
TOTAL OTHER TRANSACTIONS 4,586,198,615.8
8
213,580.89 0.00 213,580.89 0.00
Execution Time: 11/23/2016 11:27:52 AMChandler Asset Management - CONFIDENTIAL Page 10
Transaction Ledger
10/31/16 Thru 11/30/16
City of Dublin Consolidated
Account #10221
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 11/01/2016 31846V203 9.85 First American Govt Obligation Fund 1.000 0.01 %9.85 0.00 9.85 0.00
Purchase 11/03/2016 31846V203 8,750.00 First American Govt Obligation Fund 1.000 0.01 %8,750.00 0.00 8,750.00 0.00
Purchase 11/10/2016 912828T34 1,500,000.00 US Treasury Note
1.125% Due 9/30/2021
98.340 1.48 %1,475,102.69 1,900.76 1,477,003.45 0.00
Purchase 11/13/2016 31846V203 11,875.00 First American Govt Obligation Fund 1.000 0.01 %11,875.00 0.00 11,875.00 0.00
Purchase 11/15/2016 31846V203 12,375.00 First American Govt Obligation Fund 1.000 0.01 %12,375.00 0.00 12,375.00 0.00
Purchase 11/15/2016 31846V203 1,660.67 First American Govt Obligation Fund 1.000 0.01 %1,660.67 0.00 1,660.67 0.00
Purchase 11/15/2016 31846V203 1,180.58 First American Govt Obligation Fund 1.000 0.01 %1,180.58 0.00 1,180.58 0.00
Purchase 11/15/2016 31846V203 829.25 First American Govt Obligation Fund 1.000 0.01 %829.25 0.00 829.25 0.00
Purchase 11/15/2016 31846V203 932.46 First American Govt Obligation Fund 1.000 0.01 %932.46 0.00 932.46 0.00
Purchase 11/15/2016 31846V203 1,203.54 First American Govt Obligation Fund 1.000 0.01 %1,203.54 0.00 1,203.54 0.00
Purchase 11/15/2016 31846V203 1,263.67 First American Govt Obligation Fund 1.000 0.01 %1,263.67 0.00 1,263.67 0.00
Purchase 11/15/2016 31846V203 89,562.17 First American Govt Obligation Fund 1.000 0.01 %89,562.17 0.00 89,562.17 0.00
Purchase 11/15/2016 31846V203 67,070.09 First American Govt Obligation Fund 1.000 0.01 %67,070.09 0.00 67,070.09 0.00
Purchase 11/15/2016 31846V203 64,184.03 First American Govt Obligation Fund 1.000 0.01 %64,184.03 0.00 64,184.03 0.00
Purchase 11/15/2016 31846V203 72,497.21 First American Govt Obligation Fund 1.000 0.01 %72,497.21 0.00 72,497.21 0.00
Purchase 11/16/2016 912828T34 250,000.00 US Treasury Note
1.125% Due 9/30/2021
97.368 1.69 %243,418.81 363.15 243,781.96 0.00
Purchase 11/18/2016 31846V203 44,458.30 First American Govt Obligation Fund 1.000 0.01 %44,458.30 0.00 44,458.30 0.00
Purchase 11/18/2016 31846V203 114,359.25 First American Govt Obligation Fund 1.000 0.01 %114,359.25 0.00 114,359.25 0.00
Purchase 11/19/2016 31846V203 17,550.00 First American Govt Obligation Fund 1.000 0.01 %17,550.00 0.00 17,550.00 0.00
Purchase 11/20/2016 31846V203 25,293.75 First American Govt Obligation Fund 1.000 0.01 %25,293.75 0.00 25,293.75 0.00
Purchase 11/21/2016 31846V203 51,706.70 First American Govt Obligation Fund 1.000 0.01 %51,706.70 0.00 51,706.70 0.00
Purchase 11/28/2016 31846V203 17,000.00 First American Govt Obligation Fund 1.000 0.01 %17,000.00 0.00 17,000.00 0.00
Purchase 11/30/2016 31846V203 98,750.00 First American Govt Obligation Fund 1.000 0.01 %98,750.00 0.00 98,750.00 0.00
Purchase 11/30/2016 90CAMP$00 2,606.78 Public Financial Management CAMP 1.000 0.66 %2,606.78 0.00 2,606.78 0.00
Subtotal 2,455,118.30 2,423,639.80 2,263.91 2,425,903.71 0.00
TOTAL ACQUISITIONS 2,455,118.30 2,423,639.80 2,263.91 2,425,903.71 0.00
DISPOSITIONS
Sale 11/10/2016 31846V203 1,477,003.45 First American Govt Obligation Fund 1.000 0.01 %1,477,003.45 0.00 1,477,003.45 0.00
Execution Time: 12/22/2016 7:48:42 AMChandler Asset Management - CONFIDENTIAL Page 8
Transaction Ledger
10/31/16 Thru 11/30/16
City of Dublin Consolidated
Account #10221
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
DISPOSITIONS
Sale 11/16/2016 31846V203 243,781.96 First American Govt Obligation Fund 1.000 0.01 %243,781.96 0.00 243,781.96 0.00
Subtotal 1,720,785.41 1,720,785.41 0.00 1,720,785.41 0.00
Paydown 11/15/2016 161571HH0 0.00 Chase CHAIT Pool #2016-A7
1.06% Due 9/16/2019
100.000 0.00 1,660.67 1,660.67 0.00
Paydown 11/15/2016 43814QAC2 0.00 Honda Auto Receivables 2016-2 A3
1.39% Due 4/15/2020
100.000 0.00 932.46 932.46 0.00
Paydown 11/15/2016 47787VAC5 89,206.38 John Deere Owner Trust 2014-A A3
0.92% Due 4/16/2018
100.000 89,206.38 355.79 89,562.17 0.00
Paydown 11/15/2016 47788MAC4 0.00 John Deere Owner Trust 2016-A A3
1.36% Due 4/15/2020
100.000 0.00 1,263.67 1,263.67 0.00
Paydown 11/15/2016 47788NAB4 0.00 John Deere Owner Trust 2016-B A2
1.09% Due 2/15/2019
100.000 0.00 1,203.54 1,203.54 0.00
Paydown 11/15/2016 65478WAB1 0.00 Nissan Auto Receivables Owner 2016-C
A2A
1.07% Due 5/15/2019
100.000 0.00 829.25 829.25 0.00
Paydown 11/15/2016 89231LAB3 0.00 Toyota Auto Receivables Owner 2016-D
1.06% Due 5/15/2019
100.000 0.00 1,180.58 1,180.58 0.00
Paydown 11/15/2016 89231MAC9 66,910.96 Toyota Auto Receivables Owner 2014-A
0.67% Due 12/15/2017
100.000 66,910.96 159.13 67,070.09 0.00
Paydown 11/15/2016 89231TAB6 63,928.85 Toyota Auto Receivables Owner 2015-C
0.92% Due 2/15/2018
100.000 63,928.85 255.18 64,184.03 0.00
Paydown 11/15/2016 89236WAC2 71,597.94 Toyota Auto Receivables Owner 2015-A
1.12% Due 2/15/2019
100.000 71,597.94 899.27 72,497.21 0.00
Paydown 11/18/2016 43814GAC4 44,250.19 Honda Auto Receivables 2014-2 A3
0.77% Due 3/19/2018
100.000 44,250.19 208.11 44,458.30 0.00
Paydown 11/18/2016 43814NAB1 113,412.08 Honda Auto Receivables 2016-1 A2
1.01% Due 6/18/2018
100.000 113,412.08 947.17 114,359.25 0.00
Paydown 11/21/2016 43813NAC0 50,389.37 Honda Auto Receivables 2015-2 A3
1.04% Due 2/21/2019
100.000 50,389.37 1,317.33 51,706.70 0.00
Subtotal 499,695.77 499,695.77 11,212.15 510,907.92 0.00
Security
Withdrawal
11/25/2016 31846V203 104.17 First American Govt Obligation Fund 1.000 104.17 0.00 104.17 0.00
Execution Time: 12/22/2016 7:48:42 AMChandler Asset Management - CONFIDENTIAL Page 9
Transaction Ledger
10/31/16 Thru 11/30/16
City of Dublin Consolidated
Account #10221
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
DISPOSITIONS
Security
Withdrawal
11/28/2016 90CAMP$00 1,200,000.00 Public Financial Management CAMP 1.000 1,200,000.00 0.00 1,200,000.00 0.00
Subtotal 1,200,104.17 1,200,104.17 0.00 1,200,104.17 0.00
TOTAL DISPOSITIONS 3,420,585.35 3,420,585.35 11,212.15 3,431,797.50 0.00
OTHER TRANSACTIONS
Interest 11/03/2016 037833AJ9 1,750,000.00 Apple Inc Note
1% Due 5/3/2018
0.000 8,750.00 0.00 8,750.00 0.00
Interest 11/13/2016 40428HPN6 1,000,000.00 HSBC USA Inc Note
2.375% Due 11/13/2019
0.000 11,875.00 0.00 11,875.00 0.00
Interest 11/15/2016 91159HHD5 1,500,000.00 US Bancorp Callable Note Cont 4/15/2017
1.65% Due 5/15/2017
0.000 12,375.00 0.00 12,375.00 0.00
Interest 11/19/2016 857477AV5 1,800,000.00 State Street Bank Note
1.95% Due 5/19/2021
0.000 17,550.00 0.00 17,550.00 0.00
Interest 11/20/2016 36962G6K5 750,000.00 General Electric Capital Corp Note
1.6% Due 11/20/2017
0.000 6,000.00 0.00 6,000.00 0.00
Interest 11/20/2016 747525AD5 1,715,000.00 Qualcomm Inc Note
2.25% Due 5/20/2020
0.000 19,293.75 0.00 19,293.75 0.00
Interest 11/28/2016 3134G3Y53 4,000,000.00 FHLMC Callable Note 1X 11/28/14
0.85% Due 11/28/2017
0.000 17,000.00 0.00 17,000.00 0.00
Interest 11/30/2016 3135G0F73 2,500,000.00 FNMA Note
1.5% Due 11/30/2020
0.000 18,750.00 0.00 18,750.00 0.00
Interest 11/30/2016 3137EADG1 1,000,000.00 FHLMC Note
1.75% Due 5/30/2019
0.000 8,750.00 0.00 8,750.00 0.00
Interest 11/30/2016 912828G61 6,500,000.00 US Treasury Note
1.5% Due 11/30/2019
0.000 48,750.00 0.00 48,750.00 0.00
Interest 11/30/2016 912828XE5 3,000,000.00 US Treasury Note
1.5% Due 5/31/2020
0.000 22,500.00 0.00 22,500.00 0.00
Subtotal 25,515,000.00 191,593.75 0.00 191,593.75 0.00
Dividend 11/01/2016 31846V203 1,775,727.80 First American Govt Obligation Fund 0.000 9.85 0.00 9.85 0.00
Execution Time: 12/22/2016 7:48:42 AMChandler Asset Management - CONFIDENTIAL Page 10
Transaction Ledger
10/31/16 Thru 11/30/16
City of Dublin Consolidated
Account #10221
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
OTHER TRANSACTIONS
Dividend 11/30/2016 90CAMP$00 4,973,534.53 Public Financial Management CAMP 0.000 2,606.78 0.00 2,606.78 0.00
Subtotal 6,749,262.33 2,616.63 0.00 2,616.63 0.00
TOTAL OTHER TRANSACTIONS 32,264,262.33 194,210.38 0.00 194,210.38 0.00
Execution Time: 12/22/2016 7:48:42 AMChandler Asset Management - CONFIDENTIAL Page 11
Transaction Ledger
11/30/16 Thru 12/31/16
City of Dublin Consolidated
Account #10221
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 12/01/2016 31846V203 14,400.00 First American Govt Obligation Fund 1.000 0.01 %14,400.00 0.00 14,400.00 0.00
Purchase 12/01/2016 31846V203 4.49 First American Govt Obligation Fund 1.000 0.01 %4.49 0.00 4.49 0.00
Purchase 12/02/2016 24422ETF6 485,000.00 John Deere Capital Corp Note
2.55% Due 1/8/2021
100.826 2.34 %489,006.10 4,947.00 493,953.10 0.00
Purchase 12/02/2016 31846V203 65.97 First American Govt Obligation Fund 1.000 0.01 %65.97 0.00 65.97 0.00
Purchase 12/08/2016 31846V203 27,500.00 First American Govt Obligation Fund 1.000 0.01 %27,500.00 0.00 27,500.00 0.00
Purchase 12/12/2016 31846V203 17,500.00 First American Govt Obligation Fund 1.000 0.01 %17,500.00 0.00 17,500.00 0.00
Purchase 12/13/2016 31846V203 580,269.92 First American Govt Obligation Fund 1.000 0.01 %580,269.92 0.00 580,269.92 0.00
Purchase 12/13/2016 912828S76 1,500,000.00 US Treasury Note
1.125% Due 7/31/2021
96.618 1.89 %1,449,262.83 6,190.56 1,455,453.39 0.00
Purchase 12/13/2016 912828T34 1,000,000.00 US Treasury Note
1.125% Due 9/30/2021
96.391 1.92 %963,909.60 2,287.09 966,196.69 0.00
Purchase 12/14/2016 31846V203 14,062.50 First American Govt Obligation Fund 1.000 0.01 %14,062.50 0.00 14,062.50 0.00
Purchase 12/15/2016 31846V203 1,660.67 First American Govt Obligation Fund 1.000 0.01 %1,660.67 0.00 1,660.67 0.00
Purchase 12/15/2016 31846V203 1,263.67 First American Govt Obligation Fund 1.000 0.01 %1,263.67 0.00 1,263.67 0.00
Purchase 12/15/2016 31846V203 932.46 First American Govt Obligation Fund 1.000 0.01 %932.46 0.00 932.46 0.00
Purchase 12/15/2016 31846V203 1,073.25 First American Govt Obligation Fund 1.000 0.01 %1,073.25 0.00 1,073.25 0.00
Purchase 12/15/2016 31846V203 1,203.54 First American Govt Obligation Fund 1.000 0.01 %1,203.54 0.00 1,203.54 0.00
Purchase 12/15/2016 31846V203 829.25 First American Govt Obligation Fund 1.000 0.01 %829.25 0.00 829.25 0.00
Purchase 12/15/2016 31846V203 53,770.69 First American Govt Obligation Fund 1.000 0.01 %53,770.69 0.00 53,770.69 0.00
Purchase 12/15/2016 31846V203 64,989.53 First American Govt Obligation Fund 1.000 0.01 %64,989.53 0.00 64,989.53 0.00
Purchase 12/15/2016 31846V203 62,503.36 First American Govt Obligation Fund 1.000 0.01 %62,503.36 0.00 62,503.36 0.00
Purchase 12/15/2016 31846V203 70,666.40 First American Govt Obligation Fund 1.000 0.01 %70,666.40 0.00 70,666.40 0.00
Purchase 12/19/2016 31846V203 41,050.57 First American Govt Obligation Fund 1.000 0.01 %41,050.57 0.00 41,050.57 0.00
Purchase 12/19/2016 31846V203 111,011.24 First American Govt Obligation Fund 1.000 0.01 %111,011.24 0.00 111,011.24 0.00
Purchase 12/21/2016 31846V203 110,805.20 First American Govt Obligation Fund 1.000 0.01 %110,805.20 0.00 110,805.20 0.00
Purchase 12/27/2016 31846V203 15,032.50 First American Govt Obligation Fund 1.000 0.01 %15,032.50 0.00 15,032.50 0.00
Purchase 12/29/2016 31846V203 0.09 First American Govt Obligation Fund 1.000 0.01 %0.09 0.00 0.09 0.00
Purchase 12/29/2016 912828U65 2,500,000.00 US Treasury Note
1.75% Due 11/30/2021
98.578 2.06 %2,464,461.50 3,485.58 2,467,947.08 0.00
Purchase 12/31/2016 31846V203 24,375.00 First American Govt Obligation Fund 1.000 0.01 %24,375.00 0.00 24,375.00 0.00
Execution Time: 1/20/2017 10:06:26 AMChandler Asset Management - CONFIDENTIAL Page 7
Transaction Ledger
11/30/16 Thru 12/31/16
City of Dublin Consolidated
Account #10221
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 12/31/2016 90CAMP$00 3,132.73 Public Financial Management CAMP 1.000 0.66 %3,132.73 0.00 3,132.73 0.00
Subtotal 6,703,103.03 6,584,743.06 16,910.23 6,601,653.29 0.00
Security
Contribution
12/22/2016 90CAMP$00 7,500,000.00 Public Financial Management CAMP 1.000 7,500,000.00 0.00 7,500,000.00 0.00
Subtotal 7,500,000.00 7,500,000.00 0.00 7,500,000.00 0.00
TOTAL ACQUISITIONS 14,203,103.03 14,084,743.06 16,910.23 14,101,653.29 0.00
DISPOSITIONS
Sale 12/02/2016 31846V203 493,953.10 First American Govt Obligation Fund 1.000 0.01 %493,953.10 0.00 493,953.10 0.00
Sale 12/13/2016 3133ECMM3 3,000,000.00 FFCB Note
0.6% Due 4/25/2017
99.984 0.64 %2,999,520.00 2,400.00 3,001,920.00 -264.25
Sale 12/29/2016 3135G0ZL0 1,075,000.00 FNMA Note
1% Due 9/27/2017
100.092 0.88 %1,075,989.00 2,747.22 1,078,736.22 1,913.60
Sale 12/29/2016 31846V203 1,389,210.86 First American Govt Obligation Fund 1.000 0.01 %1,389,210.86 0.00 1,389,210.86 0.00
Subtotal 5,958,163.96 5,958,672.96 5,147.22 5,963,820.18 1,649.35
Paydown 12/15/2016 161571HH0 0.00 Chase CHAIT Pool #2016-A7
1.06% Due 9/16/2019
100.000 0.00 1,660.67 1,660.67 0.00
Paydown 12/15/2016 43814QAC2 0.00 Honda Auto Receivables 2016-2 A3
1.39% Due 4/15/2020
100.000 0.00 932.46 932.46 0.00
Paydown 12/15/2016 47787VAC5 53,483.29 John Deere Owner Trust 2014-A A3
0.92% Due 4/16/2018
100.000 53,483.29 287.40 53,770.69 0.00
Paydown 12/15/2016 47788MAC4 0.00 John Deere Owner Trust 2016-A A3
1.36% Due 4/15/2020
100.000 0.00 1,263.67 1,263.67 0.00
Paydown 12/15/2016 47788NAB4 0.00 John Deere Owner Trust 2016-B A2
1.09% Due 2/15/2019
100.000 0.00 1,203.54 1,203.54 0.00
Paydown 12/15/2016 65478WAB1 0.00 Nissan Auto Receivables Owner 2016-C
A2A
1.07% Due 5/15/2019
100.000 0.00 829.25 829.25 0.00
Paydown 12/15/2016 89231LAB3 0.00 Toyota Auto Receivables Owner 2016-D
1.06% Due 5/15/2019
100.000 0.00 1,073.25 1,073.25 0.00
Paydown 12/15/2016 89231MAC9 64,867.77 Toyota Auto Receivables Owner 2014-A
0.67% Due 12/15/2017
100.000 64,867.77 121.76 64,989.53 0.00
Execution Time: 1/20/2017 10:06:26 AMChandler Asset Management - CONFIDENTIAL Page 8
Transaction Ledger
11/30/16 Thru 12/31/16
City of Dublin Consolidated
Account #10221
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
DISPOSITIONS
Paydown 12/15/2016 89231TAB6 62,297.19 Toyota Auto Receivables Owner 2015-C
0.92% Due 2/15/2018
100.000 62,297.19 206.17 62,503.36 0.00
Paydown 12/15/2016 89236WAC2 69,833.95 Toyota Auto Receivables Owner 2015-A
1.12% Due 2/15/2019
100.000 69,833.95 832.45 70,666.40 0.00
Paydown 12/19/2016 43814GAC4 40,870.85 Honda Auto Receivables 2014-2 A3
0.77% Due 3/19/2018
100.000 40,870.85 179.72 41,050.57 0.00
Paydown 12/19/2016 43814NAB1 110,159.52 Honda Auto Receivables 2016-1 A2
1.01% Due 6/18/2018
100.000 110,159.52 851.72 111,011.24 0.00
Paydown 12/21/2016 43813NAC0 109,531.54 Honda Auto Receivables 2015-2 A3
1.04% Due 2/21/2019
100.000 109,531.54 1,273.66 110,805.20 0.00
Subtotal 511,044.11 511,044.11 10,715.72 521,759.83 0.00
Security
Withdrawal
12/05/2016 90CAMP$00 770,000.00 Public Financial Management CAMP 1.000 770,000.00 0.00 770,000.00 0.00
Security
Withdrawal
12/12/2016 90CAMP$00 830,000.00 Public Financial Management CAMP 1.000 830,000.00 0.00 830,000.00 0.00
Security
Withdrawal
12/27/2016 31846V203 104.17 First American Govt Obligation Fund 1.000 104.17 0.00 104.17 0.00
Subtotal 1,600,104.17 1,600,104.17 0.00 1,600,104.17 0.00
TOTAL DISPOSITIONS 8,069,312.24 8,069,821.24 15,862.94 8,085,684.18 1,649.35
OTHER TRANSACTIONS
Interest 12/01/2016 913017BU2 1,600,000.00 United Tech Corp Note
1.8% Due 6/1/2017
0.000 14,400.00 0.00 14,400.00 0.00
Interest 12/02/2016 40428HPN6 1,000,000.00 HSBC USA Inc Note
2.375% Due 11/13/2019
0.000 65.97 0.00 65.97 0.00
Interest 12/08/2016 313379DT3 2,000,000.00 FHLB Note
1.25% Due 6/8/2018
0.000 12,500.00 0.00 12,500.00 0.00
Interest 12/08/2016 313381B20 4,000,000.00 FHLB Note
0.75% Due 12/8/2017
0.000 15,000.00 0.00 15,000.00 0.00
Interest 12/12/2016 313383HU8 2,000,000.00 FHLB Note
1.75% Due 6/12/2020
0.000 17,500.00 0.00 17,500.00 0.00
Interest 12/14/2016 3135G0G72 2,500,000.00 FNMA Note
1.125% Due 12/14/2018
0.000 14,062.50 0.00 14,062.50 0.00
Interest 12/24/2016 166764AE0 1,750,000.00 Chevron Corp Callable Note Cont 5/24/2018
1.718% Due 6/24/2018
0.000 15,032.50 0.00 15,032.50 0.00
Execution Time: 1/20/2017 10:06:26 AMChandler Asset Management - CONFIDENTIAL Page 9
Transaction Ledger
11/30/16 Thru 12/31/16
City of Dublin Consolidated
Account #10221
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price
Acq/Disp
Yield Amount
Interest
Pur/Sold Total Amount Gain/Loss
OTHER TRANSACTIONS
Interest 12/31/2016 912828G95 3,000,000.00 US Treasury Note
1.625% Due 12/31/2019
0.000 24,375.00 0.00 24,375.00 0.00
Subtotal 17,850,000.00 112,935.97 0.00 112,935.97 0.00
Dividend 12/01/2016 31846V203 277,796.64 First American Govt Obligation Fund 0.000 4.49 0.00 4.49 0.00
Dividend 12/29/2016 31846V203 64,676.82 First American Govt Obligation Fund 0.000 0.09 0.00 0.09 0.00
Dividend 12/31/2016 90CAMP$00 2,176,141.31 Public Financial Management CAMP 0.000 3,132.73 0.00 3,132.73 0.00
Subtotal 2,518,614.77 3,137.31 0.00 3,137.31 0.00
TOTAL OTHER TRANSACTIONS 20,368,614.77 116,073.28 0.00 116,073.28 0.00
Execution Time: 1/20/2017 10:06:26 AMChandler Asset Management - CONFIDENTIAL Page 10