HomeMy WebLinkAbout4.05 - 1993 Q3 Investment Report
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STAFF REPORT
CITY COUNCIL
DATE: May 15, 2018
TO: Honorable Mayor and City Councilmembers
FROM:
Christopher L. Foss, City Manager
SUBJECT:
City Treasurer's Informational Report of Investments for the Quarter
Ending March 31, 2018
Prepared by: Jay Baksa, Financial Analyst
EXECUTIVE SUMMARY:
The City Council will receive an informational report of the City’s investments through
the quarter ending March 31, 2018 including a monthly transaction ledger. The City’s
investment portfolio for this period totaled $240,500,339 (book value) with an
average market yield of 2.18%. 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.
This report does not include any adjustment to the amended budget for interest
revenue, which is currently at $1,326,000 in the General Fund.
DESCRIPTION:
The total investment portfolio of $240,500,339 (book value) is comprised of
$159,554,646 managed by Chandler Asset Management (Chandler), and $80,945,692
invested by the City in local government pools. The average market yield of the
Chandler portfolio and the local pools was 2.47% and 1.62% respectively. The total
investment portfolio balance fluctuates throughout the year due to normal cash flow
needs and includes both discretionary and restricted funds.
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Economic Update Highlights
The following are some highlights from the Economic Update included in the attached
Investment Report prepared by Chandler (Attachment 1):
The Federal Open Market Committee (FOMC) raised the fed funds target rate to a
range of 1.50% -1.75% at the March 21 meeting, as expected. The FOMC left its
median fed funds rate forecast unchanged for 2018 at 2.1%, which implies two more
rate hikes by year-end. By the end of 2020, the FOMC’s median forecast now calls for
a fed funds rate of 3.4%.
GDP growth is forecasted at about 2.5% - 3.0% for 2018, which is an increase over the
2017 GDP growth of 2.3%. Overall, economic data remains solid, with the exception of
still-sluggish inflation readings. The economy is at or near full employment, consumer
confidence is strong, and leading indicators suggest the economy will continue to grow.
The Treasury yield curve flattened in March. The two-year Treasury yield increased
slightly from 2.25%, while the 10-year Treasury yield decreased about 12 basis points
to 2.86%.
City of Dublin Portfolio
The City's portfolio managed by Chandler has maintained a healthy balance of
investment types. The City’s funding levels and asset allocat ion in both the Local
Government Pools and Chandler were relatively unchanged, giving the City the
opportunity to earn a higher rate of return on the majority of its funds, as illustrated in
Chart 1 below.
Chart 1: Investments by Type, December 31, 2017 - March 31, 2018
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The market value of the City's portfolio decreased $2.01 million from December 31,
2017 (see Table 1 below), due to normal cash flow needs, but increased $2.55 million
from the same quarter the prior year.
Table 1: Portfolio Values and Yield to Maturity
March 31, 2017 December 31, 2017
Holdings Market Value Market Value
Par
Value
Book
Value Market Value
% of
Subtotal
% of Total
Portfolio
Book
Yield
Market
Yield
Managed by City
LAIF 49,978,566 40,279,741 40,402,029 40,402,029 40,402,029 49.9%16.8%1.57%1.57%
CAMP 38,745,838 42,091,706 40,543,663 40,543,663 40,543,663 50.1%16.8%1.68%1.68%
SUBTOTAL 88,724,404 82,371,447 80,945,692 80,945,692 80,945,692 100.00%33.61%1.62%1.62%
Managed by Chandler
ABS 11,958,449 6,475,552 6,828,898 6,828,506 6,798,411 4.3%2.8%1.57%2.56%
Agency 53,832,694 55,219,367 49,370,000 49,320,917 48,306,819 30.8%20.5%1.62%2.42%
Commercial Paper 2,925,668 3,160,935 3,145,000 3,131,608 3,131,608 2.0%1.3%2.14%2.14%
Foreign Corporate - - 1,500,000 1,487,019 1,458,432 0.9%0.6%2.89%3.44%
Money Market 1,217,920 205,517 3,171,409 3,171,409 3,171,409 2.0%1.3%1.22%1.22%
Negotiable CD 2,775,000 2,775,000 2,775,000 2,775,000 1.8%1.2%1.57%1.57%
Supranational 4,420,314 4,500,000 4,446,322 4,353,685 2.8%1.9%2.15%2.68%
US Corporates 34,847,969 34,291,472 35,885,000 35,943,013 35,471,943 22.6%14.9%2.01%2.75%
US Treasury 42,024,146 50,982,836 52,750,000 52,450,853 51,489,893 32.8%21.9%1.74%2.39%
SUBTOTAL 146,806,846 157,530,993 159,925,307 159,554,646 156,957,199 100.00%66.39%1.77%2.47%
Accrued Interest 576,094 762,619 751,611
147,382,940 158,293,612 157,708,810
TOTAL PORTFOLIO 236,107,345 240,665,060 240,870,999 240,500,339 238,654,502 100.00%2.18%
Change from December 31, 2017 (2,010,558)
Change from March 31, 2017 2,547,157
March 31, 2018
Overall market yield-to-maturity (YTM) increased from 1.77% to 2.18%, as shown in
Table 2 below). For detailed monthly transactions, see Attachment 2.
Table 2: Quarterly Holdings (Par Value) by Type, and YTM, 5 Quarters
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
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California Asset Management Program (CAMP). The City has typically ca rried 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.
Quarterly LAIF rates continue to rise, as shown in Table 3.
Table 3: Quarterly LAIF Yields, Recent Seven Years and One Quarter
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
None.
ATTACHMENTS:
1. City of Dublin Investment Report for Period Ending March 2018
2. Transaction Ledger - January - March 2018
6225 Lusk Blvd | San Diego, CA 92121 | Phone 800.317.4747 | Fax 858.546.3741 | www.chandlerasset.com
CHANDLER ASSET MANAGEMENT
Period Ending
March 31, 2018
City of Dublin
Investment Report
Attachment I
Table of Contents
SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Consolidated Information
SECTION 4 Portfolio Holdings
SECTION 5 Transactions
1
Attachment I
SECTION 1
Economic Update
2
Attachment I
We areforecastingGDPgrowth ofabout 2.5%-3.0%in 2018,which isin linewiththe Fed’s forecast and themarket
consensus.Thiswouldequate to an increaseover 2017 GDPgrowth of 2.3%.Overall,economicdataremainssolid,
withtheexception of still-sluggishinflationreadings.Theeconomy is atornear fullemployment,consumerconfidence
is strong, and leading indicators suggest the economy will continue to grow.
Economic Update
TheFederalOpenMarketCommittee(FOMC)raisedthefedfundstargetrate to arange of 1.50%-1.75%at theMarch
21 meeting,as expected.Thevotewasunanimous.In thepolicystatement,theFedsaideconomicactivity hasbeen
“rising at amoderate rate”whichwassomewhatlessbullishthanthe “solidrate”of growthcited in theJanuary
statement.Household and businessfixedinvestmentmoderatedfromthefourthquarter.Inflationforitemsotherthan
food and energycontinues to runbelow2.0%but theFedexpectsinflation to move up in thecomingmonths.The
FOMCleftitsmedianfedfundsrateforecastunchangedfor 2018at 2.1%whichimpliestwomoreratehikes by year-
end.Althoughtheforecastedmedianfedfundsratefor 2018 did not change,the dot plotdidchangewith 13outof15
FOMCmembersforecastingtwo or moreratehikesthisyear,comparedwith 10outof16 members at theDecember
2017 meeting.Thefedfundsratetargetsfor 2019and beyondwererevised up slightly.By the endof2020,the
FOMC’s medianforecast now callsforafedfundsrate of 3.4%.Overall,theFedrevisedtheirGDPforecasts up
slightly, their unemployment forecasts down slightly, and left their inflation projections mostly unchanged.
TheTreasuryyieldcurveflattened in March.The2-yearTreasuryyieldincreasedslightly to 2.27%from2.25%,while
the10-yearTreasuryyielddecreased about12 basispoints to 2.86%.At month end,thespreadbetween 2-and10-
yearTreasuryyieldswasjust 47 basispoints;quiteflat by historicalstandards.Allelsebeingequal,we believethe
Fed'splan to normalizethebalancesheetwillhelppromoteasteeperyieldcurvelaterthisyear.Taxreform and
strongereconomicgrowthmayalsohelpdriveyields at thelong endof thecurvehigher.However,we believethis is
somewhat offset by anticipated ongoing monetary policy normalization by the Fed.
3
Attachment I
U.S.payrollsrose by 103,000 in March,wellbelowtheconsensusforecast of 175,000.January and Februarypayrollswerealsorevised
down by a net total of 50,000.On atrailing3-month and 6-monthbasis,payrollsincreased byan average of 202,000 and 211,000 per
month,respectively.Theunemploymentratewasunchanged at 4.1%.Thelaborparticipationrate edged down to 62.9%from63.0%.A
broadermeasure of unemploymentcalledtheU-6,whichincludesthosewhoaremarginallyattached to thelaborforce and employed
parttimeforeconomicreasons,declined to 8.0%from8.2%.Wagesrose0.3%in March,in linewithexpectations.Wageswere up 2.7%
on a year-over-year basis in March, versus up 2.6% year-over-year in February. The average workweek was unchanged at 34.5 hours.
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)
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
11.0%
12.0%
13.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Ra
t
e
(
%
)
4
Attachment I
TheConsumerPriceIndex(CPI)was up 2.2%year-over-year in February,up from2.1%in January.CoreCPI(CPIlessfood and energy)
was up 1.8%year-over-year in February,unchangedfromJanuary.ThePersonalConsumptionExpenditures(PCE)indexwas up 1.8%
year-over-year in Februaryversus1.7%in January.CorePCE(excludingfood and energy)was up 1.6%on ayear-over-yearbasis in
February versus 1.5% in January. Although PCE inflation remains below the Fed's 2.0% target, it inched higher in February.
Inflation
Source: US Department of Labor Source: US Department of Labor
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
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%
3.5%
Personal Consumption Expenditures
(PCE)
PCE Price Deflator YOY % Change
PCE Core Deflator YOY % Change
YO
Y
(
%
)
C
h
a
n
g
e
5
Attachment I
On ayear-over-yearbasis,retailsaleswere up 4.0%in February,versus up 3.9%year-over-year in January.On amonth-over-month
basis,retailsalesdecreased0.1%in February(belowtheconsensusforecast of +0.4%).Excludingautos and gas,retailsaleswere up
0.3%in February,slightlybelowexpectations,followinga0.1%decline in January.TheConsumerConfidenceIndexremainedrobust but
easedslightly to 127.7 in Marchfrom130.0 in February.Despiteongoingstrength in thelabormarket and ahighlevel of consumer
confidence, consumer spending remains modest.
Consumer
Source: US Department of Commerce Source: The Conference Board
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
Retail Sales YOY % Change
YO
Y
(
%
)
C
h
a
n
g
e
85
90
95
100
105
110
115
120
125
130
135
In
d
e
x
L
e
v
e
l
Consumer Confidence
6
Attachment I
TheIndex of LeadingEconomicIndicators(LEI)rose0.6%in February,followinga0.8%increase in January.According to the
ConferenceBoard,theindexpoints to robustgrowth ahead despitethedownturn in stockmarkets and weakness in housingconstruction
in February.TheChicagoFedNationalActivityIndex(CFNAI)increasedsharply to 0.37 in Februaryfrom0.16 in January,on a3-month
moving average basis. The CFNAI suggests that the economy is gaining strength.
Economic Activity
-0.4%
-0.2%
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
Leading Economic Indicators (LEI)
M
O
M
(
%
)
C
h
a
n
g
e
-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
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
Attachment I
Totalhousingstartswereweakerthanexpected in February,down7.0%.Single-familystartsrose2.9%in January,whilemulti-family
startsfell26.1%.According to theCase-Shiller20-Cityhomepriceindex,homepriceswere up 6.4%year-over-year in January,versus
up 6.3% year-over-year in December. Pricing remains firm, owing in part to lack of supply.
Housing
Source: US Census Bureau Source: S&P
0
200
400
600
800
1000
1200
1400
1600
1800
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
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
Attachment I
TheInstituteforSupplyManagement(ISM)manufacturingindexremainedstrong at 59.3 in Marchversus60.8 in February.February's
levelwasthestrongestreading in 14 years.Areadingabove50.0suggeststhemanufacturingsector is expanding.TheIndustrial
Productionindexwas up 4.4%year-over-year in Februaryversus up 3.5%in January.On amonth-over-monthbasis,theindexincreased
1.1%in February,exceedingexpectations.Overall,theindexsuggestsactivity in thefactorysector is accelerating.CapacityUtilization
increased to 78.1%in Februaryfrom77.4%in January,but remainedbelowthelong-runaverage of 79.8%,indicatingthere is stillexcess
capacity for growth.
Manufacturing
Source: Institute for Supply Management Source: Federal Reserve
46
48
50
52
54
56
58
60
62
Institute of Supply Management
Purchasing Manager Index
Expanding
Contracting
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
Industrial Production
YO
Y
(
%
)
C
h
a
n
g
e
9
Attachment I
FourthquarterGDPgrowthwasrevised up morethanexpected to 2.9%fromthesecondestimate of 2.5%,drivenlargely byan upward
revision to consumerspending.Consumerspendingwasverystrong in thefourthquarter butnet exports and inventorieswerebotha
large drag on growth during the fourth quarter.
Gross Domestic Product (GDP)
Source: US Department of Commerce Source: US Department of Commerce
3/176/179/1712/17
1.3%2.2%1.5%2.8%
-0.2%0.6%1.2%0.8%
0.2%0.2%0.4%-1.2%
-0.2%0.1%0.1%0.2%
0.1%-0.2%0.0%0.3%
1.2%3.1%3.2%2.9%Total
Components of GDP
Net Exports and Imports
Personal Consumption Expenditures
Gross Private Domestic Investment
Federal Government Expenditures
State and Local (Consumption and Gross
Investment)
-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
Attachment I
Source: Bloomberg
Financialmarketsexperiencedincreasedvolatility in recentmonths.Uncertainty about globaltrade,inflation,and thepace of monetary
policynormalizationhaveallcontributed to thevolatility.Aftersteepeningslightlyearlierthisyear,theyieldcurveflattened in March and is
quite flat by historical standards with the spread between 2-year and 10-year Treasuries just 47 basis points at the end of March.
Bond Yields
Source: Bloomberg
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
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%
4.0%
US Treasury Yield Curve
Mar-18
Dec-17
Mar-17
Yi
e
l
d
(
%
)
11
Attachment I
SECTION 2
Account Profile
12
Attachment I
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
ICE BAML 1-5 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 fixed income instruments consistent with
the City's investment policy and California Government Code.
13
Attachment I
Compliance
Category Standard Comment
Treasury Issues No limitations Complies
Agency Issues 35% max per issuer; 25% max callables Complies
Supranationals "AA" rated or equivalent by a NRSRO; 30% maximum; 5% max per issuer; USD
denominated senior unsecured unsubordinated obligations issued by: IBRD, IFC, IADB
Complies
Municipal Securities "A" rated or higher by a NRSRO; 5% max per issuer Complies
Medium Term Notes "A" rated or higher by a NRSRO; 30% maximum; 5% max per issuer; Issued by
corporations organized and operating within the U.S. or by depository institutions licensed
by the U.S. or any state and operating within the U.S.
Complies
Banker’s Acceptances "A-1" rated or higher by a NRSRO; 40% maximum; 5% max per issuer; 20% max amount
invested in BA with any one financial institution in combination with any other debt from that
financial institution; 180 days max maturity
Complies
Commercial Paper "A-1" rated or higher by a NRSRO; 25% maximum; 5% max per issuer; 20% max amount
invested in CP of any one issuer in combination with any other debt from that issuer; 270
days max maturity
Complies
Negotiable Certificates of Deposit "A" or better long term debt rating and/or "A-1" or higher short term rating by a NRSRO;
30% maximum; 5% max per issuer; 20% max amount invested in NCDs with any one
financial institution in combination with any other debt from that financial institution.
Complies
Time Deposits/ Certificates of Deposit10% max; Collateralized/FDIC Insured; 1 year max maturity Complies
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% maximum; 5% max per issue
Complies
Money Market Mutual Funds and Mutual
Funds
Highest rating or "AAA" rated by two NRSROs; SEC registered adviser with AUM >$500
million and experience greater than 5 years; 10% per one Mutual Fund; 20% maximum in
Money Market Mutual Funds; 20% maximum combined of total portfolio in these securities
Complies
LAIF Max program limit Complies
CAMP Not used by adviser Complies
Max Per Issuer 5% (except US Government, Agencies and its instrumentalities including agency backed-
mortgage pools, Money Market Mutual Funds)
Complies
Maximum Maturity 5 years Complies
City of Dublin
March 31, 2018
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
Attachment I
Portfolio Characteristics
City of Dublin
3/31/2018 12/31/2017
Benchmark* Portfolio Portfolio
Average Maturity (yrs) 2.67 2.52 2.55
Modified Duration 2.56 2.35 2.39
Average Purchase Yield n/a 1.77% 1.67%
Average Market Yield 2.36% 2.47% 2.00%
Average Quality** AAA AA/Aa1 AA/Aa1
Total Market Value 157,566,090 158,173,214
*ICE 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
Attachment I
ABS
4.3%
Agency
30.8%
Commercial
Paper
2.0%
Money Market
Fund FI
2.0% Negotiable
CD
1.8%
Supranational
2.8% US Corporate
22.6%
US Treasury
32.8%
Foreign
Corporate
0.9%
Sector Distribution
City of Dublin
March 31, 2018 December 31, 2017
ABS
4.1%
Agency
35.1%
Commercial
Paper
2.0%
Money Market
Fund FI
0.1%
Negotiable
CD
1.8%
Supranational
2.8%
US Corporate
21.8%
US Treasury
32.3%
16
Attachment I
Issuers
City of Dublin – Account #10198 As of 3/31/2018
Issue Name Investment Type % Portfolio
Government of United States US Treasury 32.79%
Federal National Mortgage Association Agency 15.45%
Federal Home Loan Bank Agency 9.79%
Federal Home Loan Mortgage Corp Agency 5.54%
First American Govt Oblig Fund Money Market Fund FI 2.01%
Bank of Tokyo-Mit UFJ Commercial Paper 1.99%
Bank of Nova Scotia Houston Negotiable CD 1.78%
Pepsico Inc US Corporate 1.75%
ChevronTexaco Corp US Corporate 1.74%
John Deere ABS ABS 1.55%
Inter-American Dev Bank Supranational 1.53%
Toyota ABS ABS 1.45%
Chubb Corporation US Corporate 1.26%
IBM Corp US Corporate 1.26%
Qualcomm Inc US Corporate 1.26%
US Bancorp US Corporate 1.26%
Intl Bank Recon and Development Supranational 1.24%
Wells Fargo Corp US Corporate 1.21%
Honda Motor Corporation US Corporate 1.14%
JP Morgan Chase & Co US Corporate 1.13%
Microsoft US Corporate 1.13%
Exxon Mobil Corp US Corporate 1.13%
State Street Bank US Corporate 1.12%
Apple Inc US Corporate 1.11%
Bank of New York US Corporate 1.11%
Deere & Company US Corporate 1.11%
Eli Lilly & Co US Corporate 1.00%
Honda ABS ABS 0.96%
HSBC USA Corp Foreign Corporate 0.93%
Cisco Systems US Corporate 0.86%
17
Attachment I
Issuers
City of Dublin – Account #10198 As of 3/31/2018
Issue Name Investment Type % Portfolio
Oracle Corp US Corporate 0.80%
Berkshire Hathaway US Corporate 0.63%
HSBC USA Corp US Corporate 0.63%
Nissan ABS ABS 0.36%
Total 100.00%
18
Attachment I
AAA AA A <A NR
03/31/18 4.9% 74.6% 15.2% 0.0% 5.3%
12/31/17 2.2% 78.4% 13.4% 0.0% 6.0%
Source: S&P Ratings
Quality Distribution
March 31, 2018 vs. December 31, 2017
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
3/31/2018 12/31/2017
19
Attachment I
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+
City of Dublin ICE BAML 1-5 Yr US Treasury/Agency Index
Duration Distribution
City of Dublin
Portfolio Compared to the Benchmark as of March 31, 2018
0 - 0.25 0.25 - 0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+
Portfolio 7.7% 4.3% 8.2% 19.3% 24.6% 25.4% 10.4% 0.0%
Benchmark* 0.0% 0.0% 1.7% 33.2% 28.9% 21.7% 14.6% 0.0%
*ICE BAML 1-5 Yr US Treasury/Agency Index
20
Attachment I
Investment Performance
-0.20%
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
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
March 31, 2018
Total Rate of Return
Annualized Since Inception
October 31, 2013
Annualized
3 months 12 months 2 years 3 years 5 years 10 years Since
Inception
City of Dublin -0.38% 0.19% 0.22% 0.71% N/A N/A 0.84%
ICE BAML 1-5 Yr US Treasury/Agency Index -0.37% -0.08% -0.08% 0.48% N/A N/A 0.66%
*ICE BAML 1-3 Yr US Treasury/Agency Index to 12/31/2014
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.
21
Attachment I
Portfolio Characteristics
City of Dublin Reporting Account
3/31/2018 12/31/2017
Portfolio Portfolio
Average Maturity (yrs) 0.00 0.00
Modified Duration 0.00 0.00
Average Purchase Yield 1.63% 1.32%
Average Market Yield 1.62% 1.32%
Average Quality AAA/NR AAA/NR
Total Market Value 81,088,412 82,491,816
22
Attachment I
LAIF
50.0%
Local Gov
Investment
Pool
50.0%
Sector Distribution
City of Dublin Reporting Account
March 31, 2018 December 31, 2017
LAIF
49.0%
Local Gov
Investment
Pool
51.0%
23
Attachment I
Issuers
City of Dublin Reporting Account – Account #10219 As of 3/31/2018
Issue Name Investment Type % Portfolio
Local Agency Investment Fund LAIF 50.00%
CAMP Local Gov Investment Pool 50.00%
Total 100.00%
24
Attachment I
SECTION 3
Consolidated Information
25
Attachment I
Portfolio Characteristics
City of Dublin Consolidated
3/31/2018 12/31/2017
Portfolio Portfolio
Average Maturity (yrs) 1.66 1.68
Modified Duration 1.55 1.57
Average Purchase Yield 1.72% 1.55%
Average Market Yield 2.18% 1.77%
Average Quality AA+/Aaa AA+/Aaa
Total Market Value 238,654,502 240,665,030
26
Attachment I
ABS
2.9%
Agency
20.3%
Commercial
Paper
1.3%
LAIF
17.0%
Local Gov
Investment
Pool
17.0%
Money Market
Fund FI
1.3%
Negotiable
CD
1.2%
Supranational
1.8%
US Corporate
14.9%
US Treasury
21.6%
Foreign
Corporate
0.6%
Sector Distribution
City of Dublin Consolidated
March 31, 2018 December 31, 2017
ABS
2.7%
Agency
23.0%
Commercial
Paper
1.3%
LAIF
16.8%
Local Gov
Investment
Pool
17.5%
Money Market
Fund FI
0.1%
Negotiable
CD
1.2%
Supranational
1.9%
US Corporate
14.3%
US Treasury
21.3%
27
Attachment I
SECTION 4
Portfolio Holdings
28
Attachment I
Holdings Report
For the Month Ending 3/31/2018
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
89236WAC2 Toyota Auto Receivables Owner 2015-A
1.120% Due 02/15/2019
35,961.26 02/24/2015
0.61%
35,955.82
35,961.26
99.98
5.28%
35,953.56
17.90
0.02%
(7.70)
Aaa / AAA
NR
0.88
0.03
43813NAC0 Honda Auto Receivables 2015-2 A3
1.040% Due 02/21/2019
66,123.12 05/13/2015
0.29%
66,112.97
66,120.71
99.93
3.48%
66,077.10
19.10
0.04%
(43.61)
NR / AAA
AAA
0.90
0.05
65478WAB1 Nissan Auto Receivables Owner 2016-C A2A
1.070% Due 05/15/2019
133,168.90 08/02/2016
0.72%
133,163.66
133,166.77
99.97
1.56%
133,122.42
63.33
0.08%
(44.35)
Aaa / NR
AAA
1.12
0.07
89231LAB3 Toyota Auto Receivables Owner 2016-D
1.060% Due 05/15/2019
283,258.38 10/04/2016
0.82%
283,235.72
283,248.57
99.83
2.44%
282,764.38
133.45
0.18%
(484.19)
Aaa / AAA
NR
1.12
0.13
43814TAB8 Honda Auto Receivables 2017-1 A2
1.420% Due 07/22/2019
378,812.61 03/21/2017
1.28%
378,803.57
378,807.51
99.74
2.43%
377,840.20
149.42
0.24%
(967.31)
Aaa / NR
AAA
1.31
0.25
47787XAB3 John Deere Owner Trust 2017-A A2
1.500% Due 10/15/2019
434,202.85 02/22/2017
1.25%
434,201.11
434,201.83
99.73
2.48%
433,014.00
289.47
0.27%
(1,187.83)
Aaa / NR
AAA
1.54
0.28
654747AB0 Nissan Auto Receivables 2017-A A2A
1.470% Due 01/15/2020
434,149.19 03/21/2017
1.32%
434,146.99
434,147.78
99.58
2.61%
432,314.48
283.64
0.27%
(1,833.30)
Aaa / NR
AAA
1.79
0.37
43814PAB6 Honda Auto Receivables Owner T 17-3 A2
1.570% Due 01/21/2020
460,000.00 09/25/2017
1.24%
459,959.11
459,968.02
99.51
2.47%
457,724.38
260.79
0.29%
(2,243.64)
NR / AAA
AAA
1.81
0.55
47788MAC4 John Deere Owner Trust 2016-A A3
1.360% Due 04/15/2020
762,450.22 02/23/2016
1.03%
762,330.21
762,390.81
99.43
2.61%
758,085.19
460.86
0.48%
(4,305.62)
Aaa / NR
AAA
2.04
0.46
43814QAC2 Honda Auto Receivables 2016-2 A3
1.390% Due 04/15/2020
614,549.99 05/24/2016
1.24%
614,538.07
614,543.71
99.41
2.51%
610,952.41
379.66
0.39%
(3,591.30)
Aaa / NR
AAA
2.04
0.52
47788BAB0 John Deere Owner Trust 2017-B A2A
1.590% Due 04/15/2020
416,221.12 07/11/2017
1.32%
416,184.95
416,194.23
99.54
2.56%
414,289.02
294.13
0.26%
(1,905.21)
Aaa / NR
AAA
2.04
0.48
89238BAB8 Toyota Auto Receivables Owner 2018-A A2A
2.100% Due 10/15/2020
1,975,000.00 01/23/2018
2.12%
1,974,798.16
1,974,810.42
99.59
2.55%
1,966,936.08
1,843.33
1.25%
(7,874.34)
Aaa / AAA
NR
2.55
0.94
47788BAD6 John Deere Owner Trust 2017-B A3
1.820% Due 10/15/2021
320,000.00 07/11/2017
1.60%
319,976.58
319,980.46
98.49
2.75%
315,154.24
258.84
0.20%
(4,826.22)
Aaa / NR
AAA
3.55
1.64
47788CAC6 John Deere Owener Trust 2016-B A4
2.660% Due 04/18/2022
515,000.00 02/21/2018
2.68%
514,962.97
514,963.75
99.84
2.75%
514,183.21
1,179.64
0.33%
(780.54)
Aaa / NR
AAA
4.05
2.08
Total ABS 6,828,897.64 1.57%
6,828,369.89
6,828,505.83
2.56%
6,798,410.67
5,633.56
4.32%
(30,095.16)
Aaa / AAA
Aaa
2.23
0.73
Agency
3135G0G72 FNMA Note
1.125% Due 12/14/2018
2,500,000.00 12/18/2015
1.37%
2,481,975.00
2,495,746.17
99.34
2.07%
2,483,595.00
8,359.38
1.58%
(12,151.17)
Aaa / AA+
AAA
0.71
0.69
3133782M2 FHLB Note
1.500% Due 03/08/2019
2,750,000.00 04/24/2015
1.21%
2,779,892.50
2,757,224.20
99.41
2.14%
2,733,673.25
2,635.42
1.74%
(23,550.95)
Aaa / AA+
AAA
0.94
0.92
3137EADG1 FHLMC Note
1.750% Due 05/30/2019
1,000,000.00 01/29/2015
1.28%
1,019,690.00
1,005,280.56
99.53
2.16%
995,343.00
5,881.94
0.64%
(9,937.56)
Aaa / AA+
AAA
1.16
1.14
3135G0ZG1 FNMA Note
1.750% Due 09/12/2019
2,500,000.00 10/28/2014
1.68%
2,508,350.00
2,502,482.94
99.29
2.25%
2,482,205.00
2,309.03
1.58%
(20,277.94)
Aaa / AA+
AAA
1.45
1.42
City of Dublin - Account #10198
29
Attachment I
Holdings Report
For the Month Ending 3/31/2018
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
3137EADM8 FHLMC Note
1.250% Due 10/02/2019
2,500,000.00 12/18/2015
1.64%
2,464,700.00
2,485,966.91
98.50
2.27%
2,462,515.00
15,538.19
1.57%
(23,451.91)
Aaa / AA+
AAA
1.51
1.47
3135G0A78 FNMA Note
1.625% Due 01/21/2020
2,000,000.00 04/07/2015
1.44%
2,016,580.00
2,006,256.60
98.84
2.28%
1,976,876.00
6,319.44
1.26%
(29,380.60)
Aaa / AA+
AAA
1.81
1.76
313383HU8 FHLB Note
1.750% Due 06/12/2020
2,000,000.00 10/08/2015
1.46%
2,026,040.00
2,012,242.46
98.56
2.43%
1,971,250.00
10,597.22
1.26%
(40,992.46)
Aaa / AA+
NR
2.20
2.13
3137EAEK1 FHLMC Note
1.875% Due 11/17/2020
2,400,000.00 11/28/2017
1.91%
2,397,336.00
2,397,638.28
98.53
2.46%
2,364,676.80
17,000.00
1.51%
(32,961.48)
Aaa / AA+
AAA
2.64
2.53
3135G0F73 FNMA Note
1.500% Due 11/30/2020
2,500,000.00 12/04/2015
1.87%
2,455,750.00
2,476,318.96
97.63
2.42%
2,440,625.00
12,604.17
1.56%
(35,693.96)
Aaa / AA+
AAA
2.67
2.58
3130A7CV5 FHLB Note
1.375% Due 02/18/2021
3,470,000.00 Various
1.45%
3,457,221.20
3,462,589.88
97.09
2.43%
3,369,154.86
5,698.99
2.14%
(93,435.02)
Aaa / AA+
AAA
2.89
2.80
3135G0J20 FNMA Note
1.375% Due 02/26/2021
5,000,000.00 Various
1.29%
5,018,675.00
5,011,803.35
96.97
2.46%
4,848,440.00
6,684.02
3.08%
(163,363.35)
Aaa / AA+
AAA
2.91
2.82
313379RB7 FHLB Note
1.875% Due 06/11/2021
3,000,000.00 08/30/2017
1.67%
3,022,620.00
3,019,128.65
98.03
2.52%
2,940,939.00
17,187.50
1.88%
(78,189.65)
Aaa / AA+
AAA
3.20
3.06
3130A8QS5 FHLB Note
1.125% Due 07/14/2021
2,500,000.00 07/25/2016
1.28%
2,481,475.00
2,487,745.31
95.81
2.46%
2,395,312.50
6,015.63
1.52%
(92,432.81)
Aaa / AA+
AAA
3.29
3.19
3137EAEC9 FHLMC Note
1.125% Due 08/12/2021
3,000,000.00 Various
1.33%
2,971,215.00
2,980,345.96
95.53
2.52%
2,865,804.00
4,593.76
1.82%
(114,541.96)
Aaa / AA+
AAA
3.37
3.26
3135G0Q89 FNMA Note
1.375% Due 10/07/2021
2,000,000.00 10/06/2016
1.45%
1,992,924.00
1,995,020.45
96.09
2.54%
1,921,876.00
13,291.67
1.23%
(73,144.45)
Aaa / AA+
AAA
3.52
3.38
3135G0S38 FNMA Note
2.000% Due 01/05/2022
2,500,000.00 01/30/2017
2.04%
2,495,475.00
2,496,543.40
97.97
2.57%
2,449,220.00
11,944.44
1.56%
(47,323.40)
Aaa / AA+
AAA
3.77
3.58
313378CR0 FHLB Note
2.250% Due 03/11/2022
2,000,000.00 06/19/2017
1.86%
2,035,280.00
2,029,451.13
98.59
2.63%
1,971,876.00
2,500.00
1.25%
(57,575.13)
Aaa / AA+
NR
3.95
3.74
3135G0T45 FNMA Note
1.875% Due 04/05/2022
3,250,000.00 05/05/2017
1.99%
3,232,125.00
3,235,394.94
97.38
2.57%
3,164,687.50
29,791.67
2.03%
(70,707.44)
Aaa / AA+
AAA
4.02
3.80
3135G0T94 FNMA Note
2.375% Due 01/19/2023
2,500,000.00 03/28/2018
2.70%
2,463,675.00
2,463,737.02
98.75
2.65%
2,468,750.00
11,215.28
1.57%
5,012.98
Aaa / AA+
AAA
4.81
4.48
Total Agency 49,370,000.00 1.62%
49,320,998.70
49,320,917.17
2.42%
48,306,818.91
190,167.75
30.78%
(1,014,098.26)
Aaa / AA+
Aaa
2.75
2.63
Commercial Paper
06538CFD8 Bank of Tokyo Mitsubishi NY Discount CP
2.100% Due 06/13/2018
3,145,000.00 03/13/2018
2.14%
3,128,121.83
3,131,607.54
99.57
2.14%
3,131,607.54
0.00
1.99%
0.00
P-1 / A-1
NR
0.20
0.20
Total Commercial Paper 3,145,000.00 2.14%
3,128,121.83
3,131,607.54
2.14%
3,131,607.54
0.00
1.99%
0.00
P-1 / A-1
NR
0.20
0.20
City of Dublin - Account #10198
30
Attachment I
Holdings Report
For the Month Ending 3/31/2018
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
Foreign Corporate
404280BF5 HSBC Holdings PLC Note
2.650% Due 01/05/2022
1,500,000.00 01/12/2018
2.89%
1,486,320.00
1,487,018.63
97.23
3.44%
1,458,432.00
9,495.83
0.93%
(28,586.63)
A2 / A
AA-
3.77
3.52
Total Foreign Corporate 1,500,000.00 2.89%
1,486,320.00
1,487,018.63
3.44%
1,458,432.00
9,495.83
0.93%
(28,586.63)
A2 / A
AA-
3.77
3.52
Money Market Fund FI
31846V203 First American Govt Obligation Fund
3,171,409.07 Various
1.22%
3,171,409.07
3,171,409.07
1.00
1.22%
3,171,409.07
0.00
2.01%
0.00
Aaa / AAA
AAA
0.00
0.00
Total Money Market Fund FI 3,171,409.07 1.22%
3,171,409.07
3,171,409.07
1.22%
3,171,409.07
0.00
2.01%
0.00
Aaa / AAA
Aaa
0.00
0.00
Negotiable CD
06417GXH6 Bank of Nova Scotia Yankee CD
1.570% Due 08/09/2018
2,775,000.00 08/08/2017
1.57%
2,775,000.00
2,775,000.00
100.00
1.57%
2,775,000.00
28,439.90
1.78%
0.00
P-1 / A-1
NR
0.36
0.36
Total Negotiable CD 2,775,000.00 1.57%
2,775,000.00
2,775,000.00
1.57%
2,775,000.00
28,439.90
1.78%
0.00
Aaa / AA
NR
0.36
0.36
Supranational
459058FY4 Intl. Bank Recon & Development Note
2.000% Due 01/26/2022
2,000,000.00 10/26/2017
2.12%
1,990,320.00
1,991,276.13
97.48
2.70%
1,949,680.00
7,222.22
1.24%
(41,596.13)
Aaa / NR
AAA
3.83
3.63
4581X0CZ9 Inter-American Dev Bank Note
1.750% Due 09/14/2022
2,500,000.00 11/28/2017
2.18%
2,451,675.00
2,455,045.87
96.16
2.67%
2,404,005.00
2,065.97
1.53%
(51,040.87)
NR / NR
AAA
4.46
4.24
Total Supranational 4,500,000.00 2.15%
4,441,995.00
4,446,322.00
2.68%
4,353,685.00
9,288.19
2.77%
(92,637.00)
Aaa / NR
Aaa
4.18
3.97
US Corporate
713448CR7 PepsiCo Inc Note
1.250% Due 04/30/2018
1,430,000.00 Various
1.26%
1,429,428.40
1,429,984.86
99.91
2.34%
1,428,690.12
7,497.57
0.91%
(1,294.74)
A1 / A+
A
0.08
0.08
037833AJ9 Apple Inc Note
1.000% Due 05/03/2018
1,750,000.00 Various
1.34%
1,726,740.00
1,749,488.38
99.90
2.12%
1,748,250.00
7,194.44
1.11%
(1,238.38)
Aa1 / AA+
NR
0.09
0.09
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
1,750,589.68
99.85
2.72%
1,747,308.50
8,100.85
1.11%
(3,281.18)
Aa2 / AA-
NR
0.23
0.15
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
1,000,391.42
99.91
2.35%
999,141.00
3,500.00
0.64%
(1,250.42)
A1 / A
AA-
0.34
0.33
084664BY6 Berkshire Hathaway Note
2.000% Due 08/15/2018
1,000,000.00 12/12/2013
1.89%
1,004,960.00
1,000,396.33
99.80
2.54%
997,984.00
2,555.56
0.63%
(2,412.33)
Aa2 / AA
A+
0.38
0.37
17275RAR3 Cisco Systems Note
2.125% Due 03/01/2019
1,350,000.00 11/14/2014
2.05%
1,354,063.50
1,350,868.34
99.75
2.40%
1,346,604.75
2,390.63
0.86%
(4,263.59)
A1 / AA-
NR
0.92
0.90
532457BF4 Eli Lilly & Co Note
1.950% Due 03/15/2019
1,575,000.00 Various
1.91%
1,577,796.75
1,575,620.33
99.54
2.44%
1,567,783.35
1,365.00
1.00%
(7,836.98)
A2 / AA-
A
0.96
0.94
City of Dublin - Account #10198
31
Attachment I
Holdings Report
For the Month Ending 3/31/2018
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
94974BFU9 Wells Fargo Corp Note
2.125% Due 04/22/2019
1,900,000.00 Various
2.07%
1,904,120.50
1,901,108.26
99.40
2.70%
1,888,622.80
17,832.28
1.21%
(12,485.46)
A2 / A-
A+
1.06
1.03
02665WAH4 American Honda Finance Note
2.250% Due 08/15/2019
1,800,000.00 Various
2.08%
1,812,627.00
1,804,073.78
99.46
2.65%
1,790,303.40
5,175.00
1.14%
(13,770.38)
A2 / A+
NR
1.38
1.34
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
754,669.48
99.23
2.88%
744,216.00
958.33
0.47%
(10,453.48)
A1 / A
AA-
1.45
1.33
68389XAX3 Oracle Corp Note
2.250% Due 10/08/2019
1,250,000.00 Various
1.73%
1,272,172.50
1,259,537.01
99.41
2.65%
1,242,631.25
13,515.63
0.80%
(16,905.76)
A1 / AA-
A+
1.52
1.47
40428HPN6 HSBC USA Inc Note
2.375% Due 11/13/2019
1,000,000.00 11/07/2014
2.32%
1,002,440.00
1,000,789.73
99.09
2.95%
990,907.00
9,104.17
0.63%
(9,882.73)
A2 / A
AA-
1.62
1.56
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
1,796,232.03
98.78
2.94%
1,778,128.20
7,650.00
1.13%
(18,103.83)
A3 / A-
A+
1.82
1.75
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
1,329,684.64
98.34
2.71%
1,307,868.80
10,320.43
0.84%
(21,815.84)
A1 / A+
A
2.08
1.93
747525AD5 Qualcomm Inc Note
2.250% Due 05/20/2020
2,000,000.00 Various
2.22%
2,001,128.80
2,001,222.17
98.34
3.06%
1,966,772.00
16,375.01
1.26%
(34,450.17)
A1 / A
NR
2.14
2.05
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
1,015,077.66
99.03
2.81%
990,311.00
5,079.86
0.63%
(24,766.66)
A2 / A
A
2.29
2.20
00440EAT4 Chubb INA Holdings Inc Callable Note Cont
10/3/2020
2.300% Due 11/03/2020
2,000,000.00 Various
2.25%
2,003,489.00
2,002,457.70
98.49
2.93%
1,969,774.00
18,911.11
1.26%
(32,683.70)
A3 / A
A
2.60
2.39
24422ETF6 John Deere Capital Corp Note
2.550% Due 01/08/2021
750,000.00 Various
2.42%
753,733.15
752,557.72
99.10
2.89%
743,244.00
4,409.38
0.47%
(9,313.72)
A2 / A
A
2.78
2.64
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
1,807,971.59
98.51
2.76%
1,773,190.80
3,333.00
1.13%
(34,780.79)
Aaa / AA+
NR
2.92
2.80
166764BG4 Chevron Corp Callable Note Cont 4/15/2021
2.100% Due 05/16/2021
1,000,000.00 04/20/2017
2.09%
1,000,190.00
1,000,146.28
97.75
2.86%
977,479.00
7,875.00
0.63%
(22,667.28)
Aa2 / AA-
NR
3.13
2.97
857477AV5 State Street Bank Note
1.950% Due 05/19/2021
1,800,000.00 Various
1.91%
1,802,989.00
1,802,087.13
97.03
2.95%
1,746,529.20
12,870.00
1.12%
(55,557.93)
A1 / A
AA-
3.14
2.99
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
1,847,601.27
96.02
2.80%
1,776,449.56
4,221.60
1.13%
(71,151.71)
Aaa / AAA
AA+
3.36
3.23
91159HHP8 US Bancorp Callable Cont 12/23/2021
2.625% Due 01/24/2022
2,000,000.00 05/23/2017
2.35%
2,023,280.00
2,018,963.73
98.54
3.03%
1,970,822.00
9,770.83
1.26%
(48,141.73)
A1 / A+
AA-
3.82
3.58
44932HAH6 IBM Credit Corp Note
3.000% Due 02/06/2023
2,000,000.00 02/26/2018
3.09%
1,991,340.00
1,991,493.61
98.95
3.24%
1,978,932.00
9,166.67
1.26%
(12,561.61)
A1 / A+
A+
4.86
4.45
Total US Corporate 35,885,000.00 2.01%
35,994,403.35
35,943,013.13
2.75%
35,471,942.73
189,172.35
22.63%
(471,070.40)
A1 / A+
A+
1.96
1.86
US Treasury
912828C24 US Treasury Note
1.500% Due 02/28/2019
1,750,000.00 08/18/2014
1.50%
1,750,347.65
1,750,069.99
99.45
2.11%
1,740,292.75
2,282.61
1.11%
(9,777.24)
Aaa / AA+
AAA
0.92
0.90
912828D80 US Treasury Note
1.625% Due 08/31/2019
3,000,000.00 Various
1.78%
2,977,822.56
2,993,668.55
99.17
2.22%
2,975,040.00
4,239.13
1.89%
(18,628.55)
Aaa / AA+
AAA
1.42
1.39
City of Dublin - Account #10198
32
Attachment I
Holdings Report
For the Month Ending 3/31/2018
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
912828G61 US Treasury Note
1.500% Due 11/30/2019
2,000,000.00 Various
1.45%
2,003,378.10
2,001,468.03
98.77
2.26%
1,975,390.00
10,054.94
1.26%
(26,078.03)
Aaa / AA+
AAA
1.67
1.63
912828G95 US Treasury Note
1.625% Due 12/31/2019
3,000,000.00 01/08/2015
1.50%
3,017,470.99
3,006,157.73
98.91
2.26%
2,967,186.00
12,254.83
1.89%
(38,971.73)
Aaa / AA+
AAA
1.75
1.71
912828H52 US Treasury Note
1.250% Due 01/31/2020
4,500,000.00 Various
1.53%
4,440,542.42
4,477,815.28
98.16
2.28%
4,417,384.50
9,323.20
2.81%
(60,430.78)
Aaa / AA+
AAA
1.84
1.80
912828K58 US Treasury Note
1.375% Due 04/30/2020
1,750,000.00 05/06/2015
1.55%
1,735,171.88
1,743,808.04
98.08
2.32%
1,716,435.00
10,103.59
1.10%
(27,373.04)
Aaa / AA+
AAA
2.08
2.02
912828XE5 US Treasury Note
1.500% Due 05/31/2020
3,000,000.00 Various
1.67%
2,976,025.68
2,989,431.04
98.26
2.33%
2,947,734.00
15,082.42
1.88%
(41,697.04)
Aaa / AA+
AAA
2.17
2.11
912828XM7 US Treasury Note
1.625% Due 07/31/2020
1,500,000.00 09/08/2015
1.52%
1,507,622.21
1,503,634.09
98.39
2.33%
1,475,917.50
4,040.06
0.94%
(27,716.59)
Aaa / AA+
AAA
2.34
2.27
912828L99 US Treasury Note
1.375% Due 10/31/2020
5,000,000.00 Various
1.69%
4,927,376.14
4,961,699.58
97.52
2.37%
4,876,170.00
28,867.40
3.11%
(85,529.58)
Aaa / AA+
AAA
2.59
2.50
912828N89 US Treasury Note
1.375% Due 01/31/2021
2,000,000.00 03/15/2016
1.49%
1,988,834.83
1,993,508.91
97.22
2.39%
1,944,454.00
4,558.01
1.24%
(49,054.91)
Aaa / AA+
AAA
2.84
2.75
912828S76 US Treasury Note
1.125% Due 07/31/2021
1,500,000.00 12/12/2016
1.89%
1,449,262.83
1,463,484.84
95.79
2.45%
1,436,778.00
2,796.96
0.91%
(26,706.84)
Aaa / AA+
AAA
3.34
3.24
912828T34 US Treasury Note
1.125% Due 09/30/2021
2,750,000.00 Various
1.66%
2,682,431.10
2,701,120.34
95.53
2.47%
2,627,000.75
84.53
1.67%
(74,119.59)
Aaa / AA+
AAA
3.50
3.40
912828U65 US Treasury Note
1.750% Due 11/30/2021
2,500,000.00 12/28/2016
2.06%
2,464,461.50
2,473,519.17
97.45
2.48%
2,436,327.50
14,663.46
1.56%
(37,191.67)
Aaa / AA+
AAA
3.67
3.50
912828V72 US Treasury Note
1.875% Due 01/31/2022
1,500,000.00 02/27/2017
1.84%
1,502,407.37
1,501,875.82
97.73
2.50%
1,466,016.00
4,661.60
0.93%
(35,859.82)
Aaa / AA+
AAA
3.84
3.66
912828J76 US Treasury Note
1.750% Due 03/31/2022
3,000,000.00 04/25/2017
1.85%
2,985,830.37
2,988,506.86
97.17
2.50%
2,915,157.00
143.44
1.85%
(73,349.86)
Aaa / AA+
AAA
4.00
3.83
912828WZ9 US Treasury Note
1.750% Due 04/30/2022
2,750,000.00 05/23/2017
1.84%
2,738,944.75
2,740,858.87
97.05
2.51%
2,669,004.25
20,228.37
1.71%
(71,854.62)
Aaa / AA+
AAA
4.08
3.88
912828XR6 US Treasury Note
1.750% Due 05/31/2022
1,500,000.00 06/28/2017
1.81%
1,496,020.65
1,496,631.84
96.97
2.52%
1,454,590.50
8,798.08
0.93%
(42,041.34)
Aaa / AA+
AAA
4.17
3.96
912828XW5 US Treasury Note
1.750% Due 06/30/2022
3,000,000.00 07/25/2017
1.86%
2,984,072.55
2,986,275.85
96.92
2.52%
2,907,540.00
13,197.51
1.85%
(78,735.85)
Aaa / AA+
AAA
4.25
4.04
912828L24 US Treasury Note
1.875% Due 08/31/2022
2,000,000.00 09/27/2017
1.92%
1,995,944.20
1,996,361.51
97.26
2.53%
1,945,234.00
3,260.87
1.24%
(51,127.51)
Aaa / AA+
AAA
4.42
4.20
912828L57 US Treasury Note
1.750% Due 09/30/2022
3,750,000.00 Various
2.02%
3,702,841.80
3,706,675.31
96.66
2.54%
3,624,757.50
179.31
2.30%
(81,917.81)
Aaa / AA+
AAA
4.50
4.29
City of Dublin - Account #10198
33
Attachment I
Holdings Report
For the Month Ending 3/31/2018
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
912828M49 US Treasury Note
1.875% Due 10/31/2022
1,000,000.00
01/30/2018
2.47%
973,359.38
974,281.20
97.15
2.54%
971,484.00
7,872.93
0.62%
(2,797.20)
Aaa / AA+
AAA
4.59
4.32
Total US Treasury 52,750,000.00 1.74%
52,300,168.96
52,450,852.85
2.39%
51,489,893.25
176,693.25
32.79%
(960,959.60)
Aaa / AA+
Aaa
2.97
2.85
TOTAL PORTFOLIO 159,925,306.71 1.77%
159,446,786.80
159,554,646.22 2.47%
156,957,199.17
608,890.83
100.00%
(2,597,447.05)
Aa1 / AA
Aaa
2.52
2.35
TOTAL MARKET VALUE PLUS ACCRUALS 157,566,090.00
City of Dublin - Account #10198
34
Attachment I
Holdings Report
For the Month Ending 3/31/2018
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
40,402,029.17 Various
1.57%
40,402,029.17
40,402,029.17
1.00
1.57%
40,402,029.17
142,719.85
50.00%
0.00
NR / NR
NR
0.00
0.00
Total LAIF 40,402,029.17 1.57%
40,402,029.17
40,402,029.17
1.57%
40,402,029.17
142,719.85
50.00%
0.00
NR / NR
NR
0.00
0.00
Local Gov Investment Pool
90CAMP$00 Public Financial Management CAMP
40,543,663.13 Various
1.68%
40,543,663.13
40,543,663.13
1.00
1.68%
40,543,663.13
0.00
50.00%
0.00
NR / AAA
NR
0.00
0.00
Total Local Gov Investment Pool 40,543,663.13 1.68%
40,543,663.13
40,543,663.13
1.68%
40,543,663.13
0.00
50.00%
0.00
NR / AAA
NR
0.00
0.00
TOTAL PORTFOLIO 80,945,692.30 1.62%
80,945,692.30
80,945,692.30 1.62%
80,945,692.30
142,719.85
100.00%
0.00
NR / AAA
NR
0.00
0.00
TOTAL MARKET VALUE PLUS ACCRUALS 81,088,412.15
City of Dublin Reporting Account - Account #10219
35
Attachment I
SECTION 5
Transactions
36
Attachment I
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 01/17/2018 404280BF5 1,500,000.00 HSBC Holdings PLC Note
2.65% Due: 01/05/2022 99.088 2.89% 1,486,320.00 1,325.00 1,487,645.00 0.00
Purchase 01/31/2018 89238BAB8 1,975,000.00 Toyota Auto Receivables Owner 2018-A A2A
2.1% Due: 10/15/2020 99.990 2.12% 1,974,798.16 0.00 1,974,798.16 0.00
Purchase 01/31/2018 912828M49 1,000,000.00 US Treasury Note
1.875% Due: 10/31/2022 97.336 2.47% 973,359.38 4,765.19 978,124.57 0.00
Purchase 02/28/2018 44932HAH6 2,000,000.00 IBM Credit Corp Note
3% Due: 02/06/2023 99.567 3.09% 1,991,340.00 3,666.67 1,995,006.67 0.00
Purchase 02/28/2018 47788CAC6 515,000.00 John Deere Owener Trust 2016-B A4
2.66% Due: 04/18/2022 99.993 2.68% 514,962.97 0.00 514,962.97 0.00
Purchase 03/13/2018 06538CFD8 3,145,000.00 Bank of Tokyo Mitsubishi NY Discount CP
2.1% Due: 06/13/2018 99.463 2.14% 3,128,121.83 0.00 3,128,121.83 0.00
Purchase 03/29/2018 3135G0T94 2,500,000.00 FNMA Note
2.375% Due: 01/19/2023 98.547 2.70% 2,463,675.00 10,885.42 2,474,560.42 0.00
Subtotal 12,635,000.00 12,532,577.34 20,642.28 12,553,219.62 0.00
TOTAL ACQUISITIONS 12,635,000.00 12,532,577.34 20,642.28 12,553,219.62 0.00
DISPOSITIONS
Sale 01/16/2018 313378A43 1,000,000.00 FHLB Note
1.375% Due: 03/09/2018 99.999 1.38% 999,990.00 4,850.69 1,004,840.69 -598.10
Sale 01/25/2018 313379DT3 2,000,000.00 FHLB Note
1.25% Due: 06/08/2018 99.889 1.55% 1,997,780.00 3,263.89 2,001,043.89 -3183.13
Subtotal 3,000,000.00 2,997,770.00 8,114.58 3,005,884.58 -3,781.23
Maturity 01/16/2018 40428HPH9 500,000.00 HSBC USA Inc Note
1.625% Due: 01/16/2018 100.000 500,000.00 0.00 500,000.00 0.00
Maturity 02/08/2018 3135G0TG8 3,000,000.00 FNMA Note
0.875% Due: 02/08/2018 100.000 3,000,000.00 0.00 3,000,000.00 0.00
Maturity 03/09/2018 313378A43 3,000,000.00 FHLB Note
1.375% Due: 03/09/2018 100.000 3,000,000.00 0.00 3,000,000.00 0.00
December 31, 2017 through March 31, 2018
37
Attachment I
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
Maturity 03/13/2018 06538CCD1 3,170,000.00 Bank of Tokyo Mitsubishi NY Discount CP
1.45% Due: 03/13/2018 99.497 3,170,000.00 0.00 3,170,000.00 0.00
Subtotal 9,670,000.00 9,670,000.00 0.00 9,670,000.00 0.00
TOTAL DISPOSITIONS 14,821,353.23 14,819,123.23 33,260.60 14,852,383.83 -3,781.23
December 31, 2017 through March 31, 2018
38
Attachment I
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 01/15/2018 90LAIF$00 122,287.79 Local Agency Investment Fund State Pool 1.000 1.28% 122,287.79 0.00 122,287.79 0.00
Purchase 01/31/2018 90CAMP$00 54,025.45 Public Financial Management CAMP 1.000 1.46% 54,025.45 0.00 54,025.45 0.00
Purchase 02/28/2018 90CAMP$00 44,644.04 Public Financial Management CAMP 1.000 1.52% 44,644.04 0.00 44,644.04 0.00
Purchase 03/31/2018 90CAMP$00 53,317.55 Public Financial Management CAMP 1.000 1.68% 53,317.55 0.00 53,317.55 0.00
Subtotal 274,274.83 274,274.83 0.00 274,274.83 0.00
Security
Contribution 01/02/2018 90CAMP$00 8,000,000.00 Public Financial Management CAMP 1.000 8,000,000.00 0.00 8,000,000.00 0.00
Security
Contribution 03/26/2018 90CAMP$00 2,300,000.00 Public Financial Management CAMP 1.000 2,300,000.00 0.00 2,300,000.00 0.00
Subtotal 10,300,000.00 10,300,000.00 0.00 10,300,000.00 0.00
TOTAL ACQUISITIONS 10,574,274.83 10,574,274.83 0.00 10,574,274.83 0.00
DISPOSITIONS
Security
Withdrawal 01/05/2018 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
Withdrawal 01/12/2018 90CAMP$00 5,000,000.00 Public Financial Management CAMP 1.000 5,000,000.00 0.00 5,000,000.00 0.00
Security
Withdrawal 01/19/2018 90CAMP$00 1,000,000.00 Public Financial Management CAMP 1.000 1,000,000.00 0.00 1,000,000.00 0.00
Security
Withdrawal 01/26/2018 90CAMP$00 2,000,000.00 Public Financial Management CAMP 1.000 2,000,000.00 0.00 2,000,000.00 0.00
Security
Withdrawal 02/02/2018 90CAMP$00 1,700,000.00 Public Financial Management CAMP 1.000 1,700,000.00 0.00 1,700,000.00 0.00
Security
Withdrawal 02/16/2018 90CAMP$00 1,000,000.00 Public Financial Management CAMP 1.000 1,000,000.00 0.00 1,000,000.00 0.00
Subtotal 12,000,000.00 12,000,000.00 0.00 12,000,000.00 0.00
TOTAL DISPOSITIONS 12,000,000.00 12,000,000.00 0.00 12,000,000.00 0.00
December 31, 2017 through March 31, 2018
39
Attachment I
Disclosure
2018 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.
Information contained herein is confidential. Prices are provided by IDC, an independent pricing source. In the event IDC 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-fees and represent the client’s Total Return. These results include the reinvestment of dividends
and other earnings. Past performance may not be indicative of future results. Therefore, no current or prospective client should 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"
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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.
40
Attachment I
Transaction Ledger
12/31/17 Thru 1/31/18
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 01/02/2018 31846V203 344.86 First American Govt Obligation Fund 1.000 0.87 %344.86 0.00 344.86 0.00
Purchase 01/05/2018 31846V203 25,000.00 First American Govt Obligation Fund 1.000 0.87 %25,000.00 0.00 25,000.00 0.00
Purchase 01/08/2018 31846V203 9,562.50 First American Govt Obligation Fund 1.000 0.87 %9,562.50 0.00 9,562.50 0.00
Purchase 01/14/2018 31846V203 25,937.50 First American Govt Obligation Fund 1.000 0.87 %25,937.50 0.00 25,937.50 0.00
Purchase 01/15/2018 90LAIF$00 122,287.79 Local Agency Investment Fund State Pool 1.000 1.28 %122,287.79 0.00 122,287.79 0.00
Purchase 01/16/2018 31846V203 1,004,840.69 First American Govt Obligation Fund 1.000 0.87 %1,004,840.69 0.00 1,004,840.69 0.00
Purchase 01/16/2018 31846V203 4,062.50 First American Govt Obligation Fund 1.000 0.87 %4,062.50 0.00 4,062.50 0.00
Purchase 01/16/2018 31846V203 500,000.00 First American Govt Obligation Fund 1.000 0.87 %500,000.00 0.00 500,000.00 0.00
Purchase 01/16/2018 31846V203 59,424.57 First American Govt Obligation Fund 1.000 0.87 %59,424.57 0.00 59,424.57 0.00
Purchase 01/16/2018 31846V203 81,669.87 First American Govt Obligation Fund 1.000 0.87 %81,669.87 0.00 81,669.87 0.00
Purchase 01/16/2018 31846V203 602.88 First American Govt Obligation Fund 1.000 0.87 %602.88 0.00 602.88 0.00
Purchase 01/16/2018 31846V203 485.33 First American Govt Obligation Fund 1.000 0.87 %485.33 0.00 485.33 0.00
Purchase 01/16/2018 31846V203 94,040.66 First American Govt Obligation Fund 1.000 0.87 %94,040.66 0.00 94,040.66 0.00
Purchase 01/16/2018 31846V203 131,700.18 First American Govt Obligation Fund 1.000 0.87 %131,700.18 0.00 131,700.18 0.00
Purchase 01/16/2018 31846V203 48,934.91 First American Govt Obligation Fund 1.000 0.87 %48,934.91 0.00 48,934.91 0.00
Purchase 01/16/2018 31846V203 62,153.61 First American Govt Obligation Fund 1.000 0.87 %62,153.61 0.00 62,153.61 0.00
Purchase 01/16/2018 31846V203 84,580.38 First American Govt Obligation Fund 1.000 0.87 %84,580.38 0.00 84,580.38 0.00
Purchase 01/16/2018 31846V203 40,012.34 First American Govt Obligation Fund 1.000 0.87 %40,012.34 0.00 40,012.34 0.00
Purchase 01/17/2018 404280BF5 1,500,000.00 HSBC Holdings PLC Note
2.65% Due 1/5/2022
99.088 2.89 %1,486,320.00 1,325.00 1,487,645.00 0.00
Purchase 01/18/2018 31846V203 601.83 First American Govt Obligation Fund 1.000 0.87 %601.83 0.00 601.83 0.00
Purchase 01/21/2018 31846V203 16,250.00 First American Govt Obligation Fund 1.000 0.87 %16,250.00 0.00 16,250.00 0.00
Purchase 01/22/2018 31846V203 69,075.31 First American Govt Obligation Fund 1.000 0.87 %69,075.31 0.00 69,075.31 0.00
Purchase 01/22/2018 31846V203 71,216.38 First American Govt Obligation Fund 1.000 0.87 %71,216.38 0.00 71,216.38 0.00
Purchase 01/23/2018 31846V203 20,250.00 First American Govt Obligation Fund 1.000 0.87 %20,250.00 0.00 20,250.00 0.00
Purchase 01/24/2018 31846V203 26,250.00 First American Govt Obligation Fund 1.000 0.87 %26,250.00 0.00 26,250.00 0.00
Purchase 01/25/2018 31846V203 2,001,043.89 First American Govt Obligation Fund 1.000 0.87 %2,001,043.89 0.00 2,001,043.89 0.00
Purchase 01/26/2018 31846V203 20,000.00 First American Govt Obligation Fund 1.000 0.87 %20,000.00 0.00 20,000.00 0.00
Purchase 01/31/2018 31846V203 76,562.50 First American Govt Obligation Fund 1.000 0.93 %76,562.50 0.00 76,562.50 0.00
Purchase 01/31/2018 89238BAB8 1,975,000.00 Toyota Auto Receivables Owner 2018-A
A2A
2.1% Due 10/15/2020
99.990 2.12 %1,974,798.16 0.00 1,974,798.16 0.00
Execution Time: 2/14/2018 1:45:51 PMChandler Asset Management - CONFIDENTIAL Page 8
Attachment II
Transaction Ledger
12/31/17 Thru 1/31/18
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 01/31/2018 90CAMP$00 54,025.45 Public Financial Management CAMP 1.000 1.46 %54,025.45 0.00 54,025.45 0.00
Purchase 01/31/2018 912828M49 1,000,000.00 US Treasury Note
1.875% Due 10/31/2022
97.336 2.47 %973,359.38 4,765.19 978,124.57 0.00
Subtotal 9,125,915.93 9,085,393.47 6,090.19 9,091,483.66 0.00
Security
Contribution
01/02/2018 90CAMP$00 8,000,000.00 Public Financial Management CAMP 1.000 8,000,000.00 0.00 8,000,000.00 0.00
Subtotal 8,000,000.00 8,000,000.00 0.00 8,000,000.00 0.00
Short Sale 01/17/2018 31846V203 -1,487,645.00 First American Govt Obligation Fund 1.000 -1,487,645.00 0.00 -1,487,645.00 0.00
Short Sale 01/31/2018 31846V203 -1,974,798.16 First American Govt Obligation Fund 1.000 -1,974,798.16 0.00 -1,974,798.16 0.00
Subtotal -3,462,443.16 -3,462,443.16 0.00 -3,462,443.16 0.00
TOTAL ACQUISITIONS 13,663,472.77 13,622,950.31 6,090.19 13,629,040.50 0.00
DISPOSITIONS
Closing
Purchase
01/17/2018 31846V203 -1,487,645.00 First American Govt Obligation Fund 1.000 -1,487,645.00 0.00 -1,487,645.00 0.00
Closing
Purchase
01/31/2018 31846V203 -1,974,798.16 First American Govt Obligation Fund 1.000 -1,974,798.16 0.00 -1,974,798.16 0.00
Subtotal -3,462,443.16 -3,462,443.16 0.00 -3,462,443.16 0.00
Sale 01/16/2018 313378A43 1,000,000.00 FHLB Note
1.375% Due 3/9/2018
99.999 1.38 %999,990.00 4,850.69 1,004,840.69 -598.10
Sale 01/17/2018 31846V203 1,487,645.00 First American Govt Obligation Fund 1.000 0.87 %1,487,645.00 0.00 1,487,645.00 0.00
Sale 01/25/2018 313379DT3 2,000,000.00 FHLB Note
1.25% Due 6/8/2018
99.889 1.55 %1,997,780.00 3,263.89 2,001,043.89 -3,183.13
Sale 01/31/2018 31846V203 978,124.57 First American Govt Obligation Fund 1.000 0.93 %978,124.57 0.00 978,124.57 0.00
Sale 01/31/2018 31846V203 1,974,798.16 First American Govt Obligation Fund 1.000 0.93 %1,974,798.16 0.00 1,974,798.16 0.00
Subtotal 7,440,567.73 7,438,337.73 8,114.58 7,446,452.31 -3,781.23
Paydown 01/16/2018 43814QAC2 58,515.68 Honda Auto Receivables 2016-2 A3
1.39% Due 4/15/2020
100.000 58,515.68 908.89 59,424.57 0.00
Paydown 01/16/2018 47787XAB3 80,857.41 John Deere Owner Trust 2017-A A2
1.5% Due 10/15/2019
100.000 80,857.41 812.46 81,669.87 0.00
Paydown 01/16/2018 47788BAB0 0.00 John Deere Owner Trust 2017-B A2A
1.59% Due 4/15/2020
100.000 0.00 602.88 602.88 0.00
Execution Time: 2/14/2018 1:45:51 PMChandler Asset Management - CONFIDENTIAL Page 9
Attachment II
Transaction Ledger
12/31/17 Thru 1/31/18
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 01/16/2018 47788BAD6 0.00 John Deere Owner Trust 2017-B A3
1.82% Due 10/15/2021
100.000 0.00 485.33 485.33 0.00
Paydown 01/16/2018 47788MAC4 92,873.39 John Deere Owner Trust 2016-A A3
1.36% Due 4/15/2020
100.000 92,873.39 1,167.27 94,040.66 0.00
Paydown 01/16/2018 47788NAB4 131,384.01 John Deere Owner Trust 2016-B A2
1.09% Due 2/15/2019
100.000 131,384.01 316.17 131,700.18 0.00
Paydown 01/16/2018 654747AB0 48,227.80 Nissan Auto Receivables 2017-A A2A
1.47% Due 1/15/2020
100.000 48,227.80 707.11 48,934.91 0.00
Paydown 01/16/2018 65478WAB1 61,867.80 Nissan Auto Receivables Owner 2016-C
A2A
1.07% Due 5/15/2019
100.000 61,867.80 285.81 62,153.61 0.00
Paydown 01/16/2018 89231LAB3 84,102.07 Toyota Auto Receivables Owner 2016-D
1.06% Due 5/15/2019
100.000 84,102.07 478.31 84,580.38 0.00
Paydown 01/16/2018 89236WAC2 39,870.34 Toyota Auto Receivables Owner 2015-A
1.12% Due 2/15/2019
100.000 39,870.34 142.00 40,012.34 0.00
Paydown 01/18/2018 43814PAB6 0.00 Honda Auto Receivables Owner T 17-3 A2
1.57% Due 1/21/2020
100.000 0.00 601.83 601.83 0.00
Paydown 01/22/2018 43813NAC0 68,845.72 Honda Auto Receivables 2015-2 A3
1.04% Due 2/21/2019
100.000 68,845.72 229.59 69,075.31 0.00
Paydown 01/22/2018 43814TAB8 70,522.57 Honda Auto Receivables 2017-1 A2
1.42% Due 7/22/2019
100.000 70,522.57 693.81 71,216.38 0.00
Subtotal 737,066.79 737,066.79 7,431.46 744,498.25 0.00
Maturity 01/16/2018 40428HPH9 500,000.00 HSBC USA Inc Note
1.625% Due 1/16/2018
100.000 500,000.00 0.00 500,000.00 0.00
Subtotal 500,000.00 500,000.00 0.00 500,000.00 0.00
Security
Withdrawal
01/05/2018 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
Withdrawal
01/12/2018 90CAMP$00 5,000,000.00 Public Financial Management CAMP 1.000 5,000,000.00 0.00 5,000,000.00 0.00
Security
Withdrawal
01/19/2018 90CAMP$00 1,000,000.00 Public Financial Management CAMP 1.000 1,000,000.00 0.00 1,000,000.00 0.00
Security
Withdrawal
01/25/2018 31846V203 104.17 First American Govt Obligation Fund 1.000 104.17 0.00 104.17 0.00
Execution Time: 2/14/2018 1:45:51 PMChandler Asset Management - CONFIDENTIAL Page 10
Attachment II
Transaction Ledger
12/31/17 Thru 1/31/18
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
01/26/2018 90CAMP$00 2,000,000.00 Public Financial Management CAMP 1.000 2,000,000.00 0.00 2,000,000.00 0.00
Subtotal 9,300,104.17 9,300,104.17 0.00 9,300,104.17 0.00
TOTAL DISPOSITIONS 14,515,295.53 14,513,065.53 15,546.04 14,528,611.57 -3,781.23
OTHER TRANSACTIONS
Interest 01/05/2018 3135G0S38 2,500,000.00 FNMA Note
2% Due 1/5/2022
0.000 25,000.00 0.00 25,000.00 0.00
Interest 01/08/2018 24422ETF6 750,000.00 John Deere Capital Corp Note
2.55% Due 1/8/2021
0.000 9,562.50 0.00 9,562.50 0.00
Interest 01/14/2018 24422ESY6 1,000,000.00 John Deere Capital Corp Note
2.375% Due 7/14/2020
0.000 11,875.00 0.00 11,875.00 0.00
Interest 01/14/2018 3130A8QS5 2,500,000.00 FHLB Note
1.125% Due 7/14/2021
0.000 14,062.50 0.00 14,062.50 0.00
Interest 01/16/2018 40428HPH9 500,000.00 HSBC USA Inc Note
1.625% Due 1/16/2018
0.000 4,062.50 0.00 4,062.50 0.00
Interest 01/21/2018 3135G0A78 2,000,000.00 FNMA Note
1.625% Due 1/21/2020
0.000 16,250.00 0.00 16,250.00 0.00
Interest 01/23/2018 46625HKA7 1,800,000.00 JP Morgan Chase Callable Note Cont
12/23/2019
2.25% Due 1/23/2020
0.000 20,250.00 0.00 20,250.00 0.00
Interest 01/24/2018 91159HHP8 2,000,000.00 US Bancorp Callable Cont 12/23/2021
2.625% Due 1/24/2022
0.000 26,250.00 0.00 26,250.00 0.00
Interest 01/26/2018 459058FY4 2,000,000.00 Intl. Bank Recon & Development Note
2% Due 1/26/2022
0.000 20,000.00 0.00 20,000.00 0.00
Interest 01/31/2018 912828H52 4,500,000.00 US Treasury Note
1.25% Due 1/31/2020
0.000 28,125.00 0.00 28,125.00 0.00
Interest 01/31/2018 912828N89 2,000,000.00 US Treasury Note
1.375% Due 1/31/2021
0.000 13,750.00 0.00 13,750.00 0.00
Interest 01/31/2018 912828S76 1,500,000.00 US Treasury Note
1.125% Due 7/31/2021
0.000 8,437.50 0.00 8,437.50 0.00
Interest 01/31/2018 912828V72 1,500,000.00 US Treasury Note
1.875% Due 1/31/2022
0.000 14,062.50 0.00 14,062.50 0.00
Execution Time: 2/14/2018 1:45:51 PMChandler Asset Management - CONFIDENTIAL Page 11
Attachment II
Transaction Ledger
12/31/17 Thru 1/31/18
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 01/31/2018 912828XM7 1,500,000.00 US Treasury Note
1.625% Due 7/31/2020
0.000 12,187.50 0.00 12,187.50 0.00
Subtotal 26,050,000.00 223,875.00 0.00 223,875.00 0.00
Dividend 01/02/2018 31846V203 205,517.22 First American Govt Obligation Fund 0.000 344.86 0.00 344.86 0.00
Dividend 01/15/2018 90LAIF$00 3,704,214,077.9
6
Local Agency Investment Fund State Pool 0.000 122,287.79 0.00 122,287.79 0.00
Dividend 01/31/2018 90CAMP$00 40,791,706.09 Public Financial Management CAMP 0.000 54,025.45 0.00 54,025.45 0.00
Subtotal 3,745,211,301.2
7
176,658.10 0.00 176,658.10 0.00
TOTAL OTHER TRANSACTIONS 3,771,261,301.2
7
400,533.10 0.00 400,533.10 0.00
Execution Time: 2/14/2018 1:45:51 PMChandler Asset Management - CONFIDENTIAL Page 12
Attachment II
Transaction Ledger
1/31/18 Thru 2/28/18
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 02/01/2018 31846V203 10,500.00 First American Govt Obligation Fund 1.000 0.93 %10,500.00 0.00 10,500.00 0.00
Purchase 02/01/2018 31846V203 820.80 First American Govt Obligation Fund 1.000 0.93 %820.80 0.00 820.80 0.00
Purchase 02/08/2018 31846V203 3,000,000.00 First American Govt Obligation Fund 1.000 0.93 %3,000,000.00 0.00 3,000,000.00 0.00
Purchase 02/08/2018 31846V203 27,462.50 First American Govt Obligation Fund 1.000 0.93 %27,462.50 0.00 27,462.50 0.00
Purchase 02/12/2018 31846V203 16,875.00 First American Govt Obligation Fund 1.000 0.93 %16,875.00 0.00 16,875.00 0.00
Purchase 02/15/2018 31846V203 30,250.00 First American Govt Obligation Fund 1.000 0.93 %30,250.00 0.00 30,250.00 0.00
Purchase 02/15/2018 31846V203 58,967.94 First American Govt Obligation Fund 1.000 0.93 %58,967.94 0.00 58,967.94 0.00
Purchase 02/15/2018 31846V203 82,427.49 First American Govt Obligation Fund 1.000 0.93 %82,427.49 0.00 82,427.49 0.00
Purchase 02/15/2018 31846V203 602.88 First American Govt Obligation Fund 1.000 0.93 %602.88 0.00 602.88 0.00
Purchase 02/15/2018 31846V203 485.33 First American Govt Obligation Fund 1.000 0.93 %485.33 0.00 485.33 0.00
Purchase 02/15/2018 31846V203 104,945.35 First American Govt Obligation Fund 1.000 0.93 %104,945.35 0.00 104,945.35 0.00
Purchase 02/15/2018 31846V203 154,373.98 First American Govt Obligation Fund 1.000 0.93 %154,373.98 0.00 154,373.98 0.00
Purchase 02/15/2018 31846V203 50,998.65 First American Govt Obligation Fund 1.000 0.93 %50,998.65 0.00 50,998.65 0.00
Purchase 02/15/2018 31846V203 67,576.88 First American Govt Obligation Fund 1.000 0.93 %67,576.88 0.00 67,576.88 0.00
Purchase 02/15/2018 31846V203 91,664.74 First American Govt Obligation Fund 1.000 0.93 %91,664.74 0.00 91,664.74 0.00
Purchase 02/15/2018 31846V203 40,073.64 First American Govt Obligation Fund 1.000 0.93 %40,073.64 0.00 40,073.64 0.00
Purchase 02/18/2018 31846V203 23,856.25 First American Govt Obligation Fund 1.000 0.93 %23,856.25 0.00 23,856.25 0.00
Purchase 02/20/2018 31846V203 601.83 First American Govt Obligation Fund 1.000 0.93 %601.83 0.00 601.83 0.00
Purchase 02/21/2018 31846V203 66,721.37 First American Govt Obligation Fund 1.000 0.93 %66,721.37 0.00 66,721.37 0.00
Purchase 02/21/2018 31846V203 71,189.14 First American Govt Obligation Fund 1.000 0.93 %71,189.14 0.00 71,189.14 0.00
Purchase 02/26/2018 31846V203 34,375.00 First American Govt Obligation Fund 1.000 0.93 %34,375.00 0.00 34,375.00 0.00
Purchase 02/28/2018 31846V203 56,250.00 First American Govt Obligation Fund 1.000 0.97 %56,250.00 0.00 56,250.00 0.00
Purchase 02/28/2018 44932HAH6 2,000,000.00 IBM Credit Corp Note
3% Due 2/6/2023
99.567 3.09 %1,991,340.00 3,666.67 1,995,006.67 0.00
Purchase 02/28/2018 47788CAC6 515,000.00 John Deere Owener Trust 2016-B A4
2.66% Due 4/18/2022
99.993 2.68 %514,962.97 0.00 514,962.97 0.00
Purchase 02/28/2018 90CAMP$00 44,644.04 Public Financial Management CAMP 1.000 1.52 %44,644.04 0.00 44,644.04 0.00
Subtotal 6,550,662.81 6,541,965.78 3,666.67 6,545,632.45 0.00
TOTAL ACQUISITIONS 6,550,662.81 6,541,965.78 3,666.67 6,545,632.45 0.00
Execution Time: 3/6/2018 11:28:20 AMChandler Asset Management - CONFIDENTIAL Page 8
Attachment II
Transaction Ledger
1/31/18 Thru 2/28/18
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 02/28/2018 31846V203 514,962.97 First American Govt Obligation Fund 1.000 0.97 %514,962.97 0.00 514,962.97 0.00
Sale 02/28/2018 31846V203 1,995,006.67 First American Govt Obligation Fund 1.000 0.97 %1,995,006.67 0.00 1,995,006.67 0.00
Subtotal 2,509,969.64 2,509,969.64 0.00 2,509,969.64 0.00
Paydown 02/15/2018 43814QAC2 58,126.83 Honda Auto Receivables 2016-2 A3
1.39% Due 4/15/2020
100.000 58,126.83 841.11 58,967.94 0.00
Paydown 02/15/2018 47787XAB3 81,716.10 John Deere Owner Trust 2017-A A2
1.5% Due 10/15/2019
100.000 81,716.10 711.39 82,427.49 0.00
Paydown 02/15/2018 47788BAB0 0.00 John Deere Owner Trust 2017-B A2A
1.59% Due 4/15/2020
100.000 0.00 602.88 602.88 0.00
Paydown 02/15/2018 47788BAD6 0.00 John Deere Owner Trust 2017-B A3
1.82% Due 10/15/2021
100.000 0.00 485.33 485.33 0.00
Paydown 02/15/2018 47788MAC4 103,883.33 John Deere Owner Trust 2016-A A3
1.36% Due 4/15/2020
100.000 103,883.33 1,062.02 104,945.35 0.00
Paydown 02/15/2018 47788NAB4 154,177.15 John Deere Owner Trust 2016-B A2
1.09% Due 2/15/2019
100.000 154,177.15 196.83 154,373.98 0.00
Paydown 02/15/2018 654747AB0 50,350.62 Nissan Auto Receivables 2017-A A2A
1.47% Due 1/15/2020
100.000 50,350.62 648.03 50,998.65 0.00
Paydown 02/15/2018 65478WAB1 67,346.24 Nissan Auto Receivables Owner 2016-C
A2A
1.07% Due 5/15/2019
100.000 67,346.24 230.64 67,576.88 0.00
Paydown 02/15/2018 89231LAB3 91,260.72 Toyota Auto Receivables Owner 2016-D
1.06% Due 5/15/2019
100.000 91,260.72 404.02 91,664.74 0.00
Paydown 02/15/2018 89236WAC2 39,968.85 Toyota Auto Receivables Owner 2015-A
1.12% Due 2/15/2019
100.000 39,968.85 104.79 40,073.64 0.00
Paydown 02/20/2018 43814PAB6 0.00 Honda Auto Receivables Owner T 17-3 A2
1.57% Due 1/21/2020
100.000 0.00 601.83 601.83 0.00
Paydown 02/21/2018 43813NAC0 66,551.45 Honda Auto Receivables 2015-2 A3
1.04% Due 2/21/2019
100.000 66,551.45 169.92 66,721.37 0.00
Paydown 02/21/2018 43814TAB8 70,578.78 Honda Auto Receivables 2017-1 A2
1.42% Due 7/22/2019
100.000 70,578.78 610.36 71,189.14 0.00
Subtotal 783,960.07 783,960.07 6,669.15 790,629.22 0.00
Maturity 02/08/2018 3135G0TG8 3,000,000.00 FNMA Note
0.875% Due 2/8/2018
100.000 3,000,000.00 0.00 3,000,000.00 0.00
Subtotal 3,000,000.00 3,000,000.00 0.00 3,000,000.00 0.00
Security
Withdrawal
02/02/2018 90CAMP$00 1,700,000.00 Public Financial Management CAMP 1.000 1,700,000.00 0.00 1,700,000.00 0.00
Execution Time: 3/6/2018 11:28:20 AMChandler Asset Management - CONFIDENTIAL Page 9
Attachment II
Transaction Ledger
1/31/18 Thru 2/28/18
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
02/16/2018 90CAMP$00 1,000,000.00 Public Financial Management CAMP 1.000 1,000,000.00 0.00 1,000,000.00 0.00
Security
Withdrawal
02/26/2018 31846V203 104.17 First American Govt Obligation Fund 1.000 104.17 0.00 104.17 0.00
Subtotal 2,700,104.17 2,700,104.17 0.00 2,700,104.17 0.00
TOTAL DISPOSITIONS 8,994,033.88 8,994,033.88 6,669.15 9,000,703.03 0.00
OTHER TRANSACTIONS
Interest 02/01/2018 06406HCL1 1,000,000.00 Bank of New York Callable Note Cont
7/2/2018
2.1% Due 8/1/2018
0.000 10,500.00 0.00 10,500.00 0.00
Interest 02/08/2018 3135G0TG8 3,000,000.00 FNMA Note
0.875% Due 2/8/2018
0.000 13,125.00 0.00 13,125.00 0.00
Interest 02/08/2018 594918BP8 1,850,000.00 Microsoft Callable Note Cont 7/8/21
1.55% Due 8/8/2021
0.000 14,337.50 0.00 14,337.50 0.00
Interest 02/12/2018 3137EAEC9 3,000,000.00 FHLMC Note
1.125% Due 8/12/2021
0.000 16,875.00 0.00 16,875.00 0.00
Interest 02/15/2018 02665WAH4 1,800,000.00 American Honda Finance Note
2.25% Due 8/15/2019
0.000 20,250.00 0.00 20,250.00 0.00
Interest 02/15/2018 084664BY6 1,000,000.00 Berkshire Hathaway Note
2% Due 8/15/2018
0.000 10,000.00 0.00 10,000.00 0.00
Interest 02/18/2018 3130A7CV5 3,470,000.00 FHLB Note
1.375% Due 2/18/2021
0.000 23,856.25 0.00 23,856.25 0.00
Interest 02/26/2018 3135G0J20 5,000,000.00 FNMA Note
1.375% Due 2/26/2021
0.000 34,375.00 0.00 34,375.00 0.00
Interest 02/28/2018 912828C24 1,750,000.00 US Treasury Note
1.5% Due 2/28/2019
0.000 13,125.00 0.00 13,125.00 0.00
Interest 02/28/2018 912828D80 3,000,000.00 US Treasury Note
1.625% Due 8/31/2019
0.000 24,375.00 0.00 24,375.00 0.00
Interest 02/28/2018 912828L24 2,000,000.00 US Treasury Note
1.875% Due 8/31/2022
0.000 18,750.00 0.00 18,750.00 0.00
Subtotal 26,870,000.00 199,568.75 0.00 199,568.75 0.00
Dividend 02/01/2018 31846V203 249,948.01 First American Govt Obligation Fund 0.000 820.80 0.00 820.80 0.00
Execution Time: 3/6/2018 11:28:20 AMChandler Asset Management - CONFIDENTIAL Page 10
Attachment II
Transaction Ledger
1/31/18 Thru 2/28/18
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 02/28/2018 90CAMP$00 38,145,701.54 Public Financial Management CAMP 0.000 44,644.04 0.00 44,644.04 0.00
Subtotal 38,395,649.55 45,464.84 0.00 45,464.84 0.00
TOTAL OTHER TRANSACTIONS 65,265,649.55 245,033.59 0.00 245,033.59 0.00
Execution Time: 3/6/2018 11:28:20 AMChandler Asset Management - CONFIDENTIAL Page 11
Attachment II
Transaction Ledger
2/28/18 Thru 3/31/18
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 03/01/2018 31846V203 34,341.75 First American Govt Obligation Fund 1.000 0.97 %34,341.75 0.00 34,341.75 0.00
Purchase 03/01/2018 31846V203 2,076.49 First American Govt Obligation Fund 1.000 0.97 %2,076.49 0.00 2,076.49 0.00
Purchase 03/08/2018 31846V203 20,625.00 First American Govt Obligation Fund 1.000 0.97 %20,625.00 0.00 20,625.00 0.00
Purchase 03/09/2018 31846V203 3,000,000.00 First American Govt Obligation Fund 1.000 0.97 %3,000,000.00 0.00 3,000,000.00 0.00
Purchase 03/09/2018 31846V203 20,625.00 First American Govt Obligation Fund 1.000 0.97 %20,625.00 0.00 20,625.00 0.00
Purchase 03/11/2018 31846V203 31,125.00 First American Govt Obligation Fund 1.000 0.97 %31,125.00 0.00 31,125.00 0.00
Purchase 03/12/2018 31846V203 21,875.00 First American Govt Obligation Fund 1.000 0.97 %21,875.00 0.00 21,875.00 0.00
Purchase 03/13/2018 06538CFD8 3,145,000.00 Bank of Tokyo Mitsubishi NY Discount CP
2.1% Due 6/13/2018
99.463 2.14 %3,128,121.83 0.00 3,128,121.83 0.00
Purchase 03/13/2018 31846V203 3,170,000.00 First American Govt Obligation Fund 1.000 0.97 %3,170,000.00 0.00 3,170,000.00 0.00
Purchase 03/14/2018 31846V203 21,875.00 First American Govt Obligation Fund 1.000 0.97 %21,875.00 0.00 21,875.00 0.00
Purchase 03/15/2018 31846V203 15,356.25 First American Govt Obligation Fund 1.000 0.97 %15,356.25 0.00 15,356.25 0.00
Purchase 03/15/2018 31846V203 54,232.33 First American Govt Obligation Fund 1.000 0.97 %54,232.33 0.00 54,232.33 0.00
Purchase 03/15/2018 31846V203 53,798.90 First American Govt Obligation Fund 1.000 0.97 %53,798.90 0.00 53,798.90 0.00
Purchase 03/15/2018 31846V203 39,381.76 First American Govt Obligation Fund 1.000 0.97 %39,381.76 0.00 39,381.76 0.00
Purchase 03/15/2018 31846V203 485.33 First American Govt Obligation Fund 1.000 0.97 %485.33 0.00 485.33 0.00
Purchase 03/15/2018 31846V203 71,684.90 First American Govt Obligation Fund 1.000 0.97 %71,684.90 0.00 71,684.90 0.00
Purchase 03/15/2018 31846V203 62,571.63 First American Govt Obligation Fund 1.000 0.97 %62,571.63 0.00 62,571.63 0.00
Purchase 03/15/2018 31846V203 45,089.90 First American Govt Obligation Fund 1.000 0.97 %45,089.90 0.00 45,089.90 0.00
Purchase 03/15/2018 31846V203 58,315.96 First American Govt Obligation Fund 1.000 0.97 %58,315.96 0.00 58,315.96 0.00
Purchase 03/15/2018 31846V203 83,181.67 First American Govt Obligation Fund 1.000 0.97 %83,181.67 0.00 83,181.67 0.00
Purchase 03/15/2018 31846V203 36,414.56 First American Govt Obligation Fund 1.000 0.97 %36,414.56 0.00 36,414.56 0.00
Purchase 03/15/2018 31846V203 5,184.38 First American Govt Obligation Fund 1.000 0.97 %5,184.38 0.00 5,184.38 0.00
Purchase 03/19/2018 31846V203 601.83 First American Govt Obligation Fund 1.000 0.97 %601.83 0.00 601.83 0.00
Purchase 03/21/2018 31846V203 63,498.67 First American Govt Obligation Fund 1.000 0.97 %63,498.67 0.00 63,498.67 0.00
Purchase 03/21/2018 31846V203 66,929.96 First American Govt Obligation Fund 1.000 0.97 %66,929.96 0.00 66,929.96 0.00
Purchase 03/29/2018 3135G0T94 2,500,000.00 FNMA Note
2.375% Due 1/19/2023
98.547 2.70 %2,463,675.00 10,885.42 2,474,560.42 0.00
Purchase 03/31/2018 31846V203 74,531.25 First American Govt Obligation Fund 1.000 1.22 %74,531.25 0.00 74,531.25 0.00
Purchase 03/31/2018 90CAMP$00 53,317.55 Public Financial Management CAMP 1.000 1.68 %53,317.55 0.00 53,317.55 0.00
Subtotal 12,752,120.07 12,698,916.90 10,885.42 12,709,802.32 0.00
Execution Time: 4/10/2018 7:49:13 AMChandler Asset Management - CONFIDENTIAL Page 8
Attachment II
Transaction Ledger
2/28/18 Thru 3/31/18
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
Security
Contribution
03/26/2018 90CAMP$00 2,300,000.00 Public Financial Management CAMP 1.000 2,300,000.00 0.00 2,300,000.00 0.00
Subtotal 2,300,000.00 2,300,000.00 0.00 2,300,000.00 0.00
TOTAL ACQUISITIONS 15,052,120.07 14,998,916.90 10,885.42 15,009,802.32 0.00
DISPOSITIONS
Sale 03/13/2018 31846V203 3,128,121.83 First American Govt Obligation Fund 1.000 0.97 %3,128,121.83 0.00 3,128,121.83 0.00
Sale 03/29/2018 31846V203 2,474,560.42 First American Govt Obligation Fund 1.000 1.22 %2,474,560.42 0.00 2,474,560.42 0.00
Subtotal 5,602,682.25 5,602,682.25 0.00 5,602,682.25 0.00
Paydown 03/15/2018 43814QAC2 53,458.55 Honda Auto Receivables 2016-2 A3
1.39% Due 4/15/2020
100.000 53,458.55 773.78 54,232.33 0.00
Paydown 03/15/2018 47787XAB3 53,189.66 John Deere Owner Trust 2017-A A2
1.5% Due 10/15/2019
100.000 53,189.66 609.24 53,798.90 0.00
Paydown 03/15/2018 47788BAB0 38,778.88 John Deere Owner Trust 2017-B A2A
1.59% Due 4/15/2020
100.000 38,778.88 602.88 39,381.76 0.00
Paydown 03/15/2018 47788BAD6 0.00 John Deere Owner Trust 2017-B A3
1.82% Due 10/15/2021
100.000 0.00 485.33 485.33 0.00
Paydown 03/15/2018 47788MAC4 70,740.62 John Deere Owner Trust 2016-A A3
1.36% Due 4/15/2020
100.000 70,740.62 944.28 71,684.90 0.00
Paydown 03/15/2018 47788NAB4 62,514.85 John Deere Owner Trust 2016-B A2
1.09% Due 2/15/2019
100.000 62,514.85 56.78 62,571.63 0.00
Paydown 03/15/2018 654747AB0 44,503.55 Nissan Auto Receivables 2017-A A2A
1.47% Due 1/15/2020
100.000 44,503.55 586.35 45,089.90 0.00
Paydown 03/15/2018 65478WAB1 58,145.37 Nissan Auto Receivables Owner 2016-C
A2A
1.07% Due 5/15/2019
100.000 58,145.37 170.59 58,315.96 0.00
Paydown 03/15/2018 89231LAB3 82,858.27 Toyota Auto Receivables Owner 2016-D
1.06% Due 5/15/2019
100.000 82,858.27 323.40 83,181.67 0.00
Paydown 03/15/2018 89236WAC2 36,347.07 Toyota Auto Receivables Owner 2015-A
1.12% Due 2/15/2019
100.000 36,347.07 67.49 36,414.56 0.00
Paydown 03/15/2018 89238BAB8 0.00 Toyota Auto Receivables Owner 2018-A
A2A
2.1% Due 10/15/2020
100.000 0.00 5,184.38 5,184.38 0.00
Execution Time: 4/10/2018 7:49:13 AMChandler Asset Management - CONFIDENTIAL Page 9
Attachment II
Transaction Ledger
2/28/18 Thru 3/31/18
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 03/19/2018 43814PAB6 0.00 Honda Auto Receivables Owner T 17-3 A2
1.57% Due 1/21/2020
100.000 0.00 601.83 601.83 0.00
Paydown 03/21/2018 43813NAC0 63,386.43 Honda Auto Receivables 2015-2 A3
1.04% Due 2/21/2019
100.000 63,386.43 112.24 63,498.67 0.00
Paydown 03/21/2018 43814TAB8 66,403.12 Honda Auto Receivables 2017-1 A2
1.42% Due 7/22/2019
100.000 66,403.12 526.84 66,929.96 0.00
Subtotal 630,326.37 630,326.37 11,045.41 641,371.78 0.00
Maturity 03/09/2018 313378A43 3,000,000.00 FHLB Note
1.375% Due 3/9/2018
100.000 3,000,000.00 0.00 3,000,000.00 0.00
Maturity 03/13/2018 06538CCD1 3,170,000.00 Bank of Tokyo Mitsubishi NY Discount CP
1.45% Due 3/13/2018
99.497 3,170,000.00 0.00 3,170,000.00 0.00
Subtotal 6,170,000.00 6,170,000.00 0.00 6,170,000.00 0.00
Security
Withdrawal
03/26/2018 31846V203 104.17 First American Govt Obligation Fund 1.000 104.17 0.00 104.17 0.00
Subtotal 104.17 104.17 0.00 104.17 0.00
TOTAL DISPOSITIONS 12,403,112.79 12,403,112.79 11,045.41 12,414,158.20 0.00
OTHER TRANSACTIONS
Interest 03/01/2018 17275RAR3 1,350,000.00 Cisco Systems Note
2.125% Due 3/1/2019
0.000 14,343.75 0.00 14,343.75 0.00
Interest 03/01/2018 30231GAV4 1,800,000.00 Exxon Mobil Corp Callable Note Cont
2/1/2021
2.222% Due 3/1/2021
0.000 19,998.00 0.00 19,998.00 0.00
Interest 03/08/2018 3133782M2 2,750,000.00 FHLB Note
1.5% Due 3/8/2019
0.000 20,625.00 0.00 20,625.00 0.00
Interest 03/09/2018 313378A43 3,000,000.00 FHLB Note
1.375% Due 3/9/2018
0.000 20,625.00 0.00 20,625.00 0.00
Interest 03/11/2018 06406HCW7 750,000.00 Bank of New York Callable Note Cont
8/11/2019
2.3% Due 9/11/2019
0.000 8,625.00 0.00 8,625.00 0.00
Interest 03/11/2018 313378CR0 2,000,000.00 FHLB Note
2.25% Due 3/11/2022
0.000 22,500.00 0.00 22,500.00 0.00
Interest 03/12/2018 3135G0ZG1 2,500,000.00 FNMA Note
1.75% Due 9/12/2019
0.000 21,875.00 0.00 21,875.00 0.00
Interest 03/14/2018 4581X0CZ9 2,500,000.00 Inter-American Dev Bank Note
1.75% Due 9/14/2022
0.000 21,875.00 0.00 21,875.00 0.00
Execution Time: 4/10/2018 7:49:13 AMChandler Asset Management - CONFIDENTIAL Page 10
Attachment II
Transaction Ledger
2/28/18 Thru 3/31/18
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 03/15/2018 532457BF4 1,575,000.00 Eli Lilly & Co Note
1.95% Due 3/15/2019
0.000 15,356.25 0.00 15,356.25 0.00
Interest 03/31/2018 912828J76 3,000,000.00 US Treasury Note
1.75% Due 3/31/2022
0.000 26,250.00 0.00 26,250.00 0.00
Interest 03/31/2018 912828L57 3,750,000.00 US Treasury Note
1.75% Due 9/30/2022
0.000 32,812.50 0.00 32,812.50 0.00
Interest 03/31/2018 912828T34 2,750,000.00 US Treasury Note
1.125% Due 9/30/2021
0.000 15,468.75 0.00 15,468.75 0.00
Subtotal 27,725,000.00 240,354.25 0.00 240,354.25 0.00
Dividend 03/01/2018 31846V203 1,754,734.72 First American Govt Obligation Fund 0.000 2,076.49 0.00 2,076.49 0.00
Dividend 03/31/2018 90CAMP$00 40,490,345.58 Public Financial Management CAMP 0.000 53,317.55 0.00 53,317.55 0.00
Subtotal 42,245,080.30 55,394.04 0.00 55,394.04 0.00
TOTAL OTHER TRANSACTIONS 69,970,080.30 295,748.29 0.00 295,748.29 0.00
Execution Time: 4/10/2018 7:49:13 AMChandler Asset Management - CONFIDENTIAL Page 11
Attachment II