HomeMy WebLinkAboutItem 4.7 - 2128 Q4 Investment Report
Page 1 of 4
STAFF REPORT
CITY COUNCIL
DATE: August 21, 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 June 30, 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 June 30, 2018 including a monthly transaction ledger. The City’s
investment portfolio for this period totaled $256,311,389 (book value) with an
average market yield of 2.40%. 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.
DESCRIPTION:
The total investment portfolio of $256,311,389 (book value) is comprised of
$160,147,633 managed by Chandler Asset Management (Chandler), and $96,163,757
invested by the City in local government pools. The average market yield of the
Chandler portfolio and the local pools was 2.69% and 1.93% respectively. The total
investment portfolio balance fluctuates throughout the year due to normal cash flow
needs and includes both discretionary and restricted funds.
Economic Update Highlights
The following are some highlights from the Economic Update included in the attached
Page 2 of 4
Investment Report prepared by Chandler (Attachment 1):
The Federal Open Market Committee (FOMC) raised the fed funds target rate by 25
basis points to a range of 1.75%-2.00% at the June 13 meeting. The FOMC signaled
there could be a total of four rate hikes this year, however Chandler anticipates that
financial conditions will tighten in the second half of the year and slow down the pace of
future rate hikes. Chandler believes these factors, along with ongoing conc erns about
global trade, the potential for increased volatility sparked by the upcoming US midterm
election and a shift toward less accommodative monetary policy by the European
Central Bank, may cause the FOMC to move more gradually. However, if there are no
signs of increased financial market tightening over the next three to four months,
Chandler believes the FOMC will move forward with two more rate hikes before year -
end.
Chandler is forecasting GDP growth of 2.5%-3.0% in 2018, which is in line with the
FOMC’s forecast and the market consensus. Overall, economic data remains favorable
but predictive economic indicators suggest that economic growth is unlikely to
accelerate in the second half of the year.
The Treasury yield curve continued to flatten in June. The two-year Treasury was up 10
basis points at 2.52%, while the 10 -year Treasury yield was essentially unchanged at
2.86%.
City of Dublin Portfolio
The City's portfolio managed by Chandler has maintained a healthy balance of
investment types and remained relatively unchanged from the quarter ending March 31,
2018. The City did receive property tax revenues in the current quarter, which were
placed in the local government pools, resulting in a slight jump in the percentage
allocated to these investment types, as illustrated in Chart 1 below.
Page 3 of 4
Chart 1: Investments by Type, March 31, 2018 - June 30, 2018
The market value of the City's portfolio increased $15.64 million from the March 30,
2018 quarter (see Table 1 below) and increased $23.17 million from the same quarter
the prior year. The quarterly increase in revenue was due to the receipt of property tax
revenue, coupled with the timing of payments of year end invoices.
Table 1: Portfolio Values and Yield to Maturity
Overall market yield-to-maturity (YTM) increased from 2.18% to 2.40% as shown in
Table 2 below. For detailed monthly transactions, see Attachment 2.
Page 4 of 4
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
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.
Quarterly LAIF rates continue to rise, as shown in Table 3 .
Table 3: Quarterly LAIF Yields, Recent Seven Years and Two Quarters
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
None.
ATTACHMENTS:
1. City of Dublin Investment Report for Period Ending June 2018
2. Transaction Ledger - April - June 2018
6225 Lusk Blvd | San Diego, CA 92121 | Phone 800.317.4747 | Fax 858.546.3741 | www.chandlerasset.com
CHANDLER ASSET MAN AGEMEN T
Period Ending
June 30, 2018
City of Dublin
Investment Report
ATTACHMENT 1
Table of Contents
SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Consolidated Information
SECTION 4 Portfolio Holdings
SECTION 5 Transactions
1
ATTACHMENT 1
SECTION 1
Economic Update
2
ATTACHMENT 1
Economic Update
▪
▪
▪
As expected, the Federal Open Market Committee raised the fed funds target rate by 25 basis points to a range of
1.75%-2.00%at the June 13 meeting. Though the decision to hike the fed funds rate was widely anticipated, market
participants generally interpreted the policy statement and summary of economic projections as being more hawkish
than expected. The Fed signaled there could be a total of four rate hikes this year. However,we anticipate the impact
of market dynamics related to a stronger US dollar, increased deficit-related Treasury issuance,and the continued roll-
off of the Fed’s balance sheet will cause financial conditions to tighten in the second half of this year and thus slow
down the pace of future rate hikes. These factors, along with ongoing concerns about global trade, the potential for
increased volatility sparked by the upcoming US midterm elections,and a shift toward less accommodative monetary
policy by the European Central Bank, may cause the Fed to move more gradually. However,if we do not see signs of
increased financial market tightening over the next 3-4 months,we think the Fed will move forward with two more rate
hikes before year-end.
The Treasury yield curve continued to flatten in June.At month-end, the 2-year Treasury yield was up ten basis points
to 2.52%, while the 10-year Treasury yield was essentially unchanged at 2.86%. The spread between 2- and 10-year
Treasury yields narrowed to just 33 basis points at month-end. Over the past 20 years, the average spread between 2-
and 10-year Treasuries has been about 140 basis points, with a median spread of roughly 150 basis points.We
believe ongoing normalization of the Fed’s balance sheet, along with increased issuance by the Treasury to fund the
growing fiscal deficit, will help promote a steeper yield curve in the second half of this year.
We are forecasting GDP growth of about 2.5%-3.0%in 2018,which is in line with the Fed’s forecast and the market
consensus.This would equate to an increase over 2017 GDP growth of 2.3%.Overall,economic data remains
favorable but predictive economic indicators suggest that economic growth is unlikely to accelerate in the second half
of the year.The index of Leading Economic Indicators rose just 0.2%in May (below consensus)versus 0.4%in April
and the Chicago Fed National Activity index dropped to -0.15 in May from +0.42 in April.Although the consensus
forecast calls for GDP growth of 3.4%in the second quarter,economic growth is expected to decelerate to 3.0%and
2.6% in the third and fourth quarters, respectively.
3
ATTACHMENT 1
Employment
Source: US Department of Labor Source: US Department of Labor
0
50
100
150
200
250
300
350
MOM Change In (000's)Nonfarm Payroll (000's)
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
11.0%
12.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)Rate (%)The pace of hiring remained solid in June with non-farm payrolls increasing by 213,000,modestly above the 195,000 consensus
estimate.The prior two months were also revised higher by a net 37,000.On a trailing three and six-month basis,payrolls increased by
211,000 and 215,000,respectively.The unemployment rate ticked higher by 0.2%to 4.0%and the labor force participation rate also
increased by 0.2%to 62.9%as more people entered the workforce.A broader measure of unemployment called the U-6,which includes
those who are marginally attached to the labor force and employed part time for economic reasons,increased by 0.2%to 7.8%.The
average workweek remained unchanged at 34.5 hours.Average hourly earnings increased by 0.2%for the month and 2.7%on a year-
over-year basis, a tenth lower on a month-over-month basis and unchanged on a year-over-year basis from the prior month.
4
ATTACHMENT 1
The Consumer Price Index (CPI) was up 2.8% year-over-year in May,up from 2.5%in April. Core CPI(CPI less food and energy) was up
2.2% year-over-year in May,up from 2.1%in April. The Personal Consumption Expenditures (PCE) index was up 2.3% year-over-year in
May, versus 2.0%in April. Core PCE (excluding food and energy) was up 2.0%on a year-over-year basis in May, versus 1.8%in April.
Core PCE inflation is now in line with the Fed's 2.0% target.
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
YOY( %) Change0.0%
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
YOY( %) Change5
ATTACHMENT 1
On a year-over-year basis, retail sales were up 5.9%in May, versus up 4.8% year-over-year in April.On a month-over-month basis, retail
sales increased 0.8%in May, exceeding the consensus forecast of 0.4%, following an upwardly revised increase of 0.4%in April. The
Consumer Confidence Index remains strong but eased slightly to 126.4 in June from 128.8 in May. Ongoing strength in the labor market
continues to support consumer confidence and spending trends.
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
YOY (%) Change85
90
95
100
105
110
115
120
125
130
135
Index LevelConsumer Confidence
6
ATTACHMENT 1
The Index of Leading Economic Indicators (LEI) rose 0.2%in May, following a 0.4% increase in April. According to the Conference Board,
the index still points to solid US economic growth. However, the Conference Board also noted the index has recently moderated which
suggests economic growth is unlikely to accelerate. The Chicago Fed National Activity Index (CFNAI) decreased in May to -0.15.On a 3-
month moving average basis, the index declined to 0.18 in May from 0.48 in April. The CFNAIsuggests that the economy slowed in May.
However, the index remains well above -0.70, which is the level associated with the beginning of a recession. Production indicators
boosted the index in April but dragged down the index in May.
Economic Activity
-0.4%
-0.2%
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
Leading Economic Indicators (LEI)MOM ( %) Change-0.60
-0.40
-0.20
0.00
0.20
0.40
0.60
Chicago Fed National Activity Index
(CFNAI)3 Month AverageSource: The Conference Board Source: Federal Reserve Bank of Chicago
7
ATTACHMENT 1
Total housing starts increased 5.0%in May. Single-family starts rose 3.9% while multi-family starts rose 7.5%. According to the Case-
Shiller 20-City home price index, home prices were up 6.6% year-over-year in April, versus 6.7%in March. Home price appreciation has
recently softened.
Housing
Source: US Census Bureau Source: S&P
0
200
400
600
800
1000
1200
1400
1600
1800
MOM Change (In Thousands of Units)Housing Starts
Multi Family Housing Starts
Single Family Housing Starts
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
7.5%
S&P/CaseShiller 20 City Composite Home
Price Index YOY( %) Change8
ATTACHMENT 1
The Institute for Supply Management (ISM) manufacturing index increased to 60.2 in June from 58.7 in May. A reading above 50.0
suggests the manufacturing sector is expanding. The Industrial Production index was up 3.5% year-over-year in May versus up 3.6%in
April.On a month-over-month basis, the index declined 0.1%in May, below expectations of +0.1%, following an upwardly revised gain of
0.9%in April. The index was dragged down by a big drop in motor vehicles in the month. Capacity Utilization was 77.9%in May, down
from 78.1% in April, indicating there is still excess 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
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
Industrial Production
YOY( %) Change9
ATTACHMENT 1
First quarter GDP growth was revised down again to 2.0% from 2.2%, according to the third estimate which was below expectations due
to higher than expected inflation. Consumer spending was more subdued in the first quarter versus prior quarters but was still favorable.
GDP growth is expected to be stronger in the second quarter and second half of the year, compared with the first quarter.We expect
overall GDP growth of 2.5%-3.0% for the full year, driven by ongoing labor market strength and a tailwind from tax reform.
Gross Domestic Product (GDP)
Source: US Department of Commerce Source: US Department of Commerce
6/17 9/17 12/17 3/18
2.2% 1.5% 2.8% 0.6%
0.6% 1.2% 0.8% 1.2%
0.2% 0.4% -1.2% 0.0%
0.1% 0.1% 0.2% 0.1%
-0.2% 0.0% 0.3% 0.1%
3.1% 3.2% 2.9% 2.0%
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 1
Source: Bloomberg
On a year-over-year basis, the Treasury yield curve has flattened. Rate hikes by the Federal Reserve have put upward pressure on
shorter-term rates, while supply and demand imbalances, technical factors,and subdued inflation expectations have kept longer rates
relatively contained. The yield curve is currently quite flat by historical standards.
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
Yield (%)0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
US Treasury Yield Curve
Jun-18
Mar-18
Jun-17
Yield (%)11
ATTACHMENT 1
SECTION 2
Account Profile
12
ATTACHMENT 1
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 andAgency 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 1
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 Deposit 10% 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
June 30, 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 1
Portfolio Characteristics
City of Dublin
6/30/2018 3/31/2018
Benchmark*Portfolio Portfolio
Average Maturity (yrs)2.67 2.63 2.52
Modified Duration 2.55 2.43 2.35
Average Purchase Yield n/a 1.90%1.77%
Average Market Yield 2.58%2.69%2.47%
Average Quality**NR AA/Aa1 AA/Aa1
Total Market Value 157,957,588 157,566,090
*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 1
ABS
4.3%
Agency
30.6%
Foreign
Corporate
0.9%
Money Market
Fund FI
1.5%Negotiable
CD
1.8%
Supranational
2.8%
US Corporate
23.7%
US Treasury
34.5%
Sector Distribution
City of Dublin
June 30, 2018 March 31, 2018
ABS
4.3%
Agency
30.8%
Foreign
Corporate
0.9%
Money Market
Fund FI
2.0%Negotiable
CD
1.8%
Supranational
2.8%
US Corporate
22.6%
US Treasury
32.8%
Commercial
Paper
2.0%
16
ATTACHMENT 1
Issuers
City of Dublin –Account #10198 As of 6/30/2018
Issue Name Investment Type % Portfolio
Government of United States US Treasury 34.46%
Federal National Mortgage Association Agency 15.38%
Federal Home Loan Bank Agency 9.76%
Federal Home Loan Mortgage Corp Agency 5.51%
Bank of Nova Scotia Houston Negotiable CD 1.78%
Inter-American Dev Bank Supranational 1.52%
First American Govt Oblig Fund Money Market Fund FI 1.45%
PNC Financial Services Group US Corporate 1.40%
Oracle Corp US Corporate 1.40%
Toyota ABS ABS 1.27%
Berkshire Hathaway US Corporate 1.26%
IBM Corp US Corporate 1.25%
US Bancorp US Corporate 1.25%
Qualcomm Inc US Corporate 1.25%
Chubb Corporation US Corporate 1.25%
Intl Bank Recon and Development Supranational 1.24%
John Deere ABS ABS 1.21%
Wells Fargo Corp US Corporate 1.20%
Honda Motor Corporation US Corporate 1.14%
JP Morgan Chase & Co US Corporate 1.14%
Microsoft US Corporate 1.13%
Exxon Mobil Corp US Corporate 1.13%
Bank of New York US Corporate 1.11%
State Street Bank US Corporate 1.11%
Deere & Company US Corporate 1.11%
Honda ABS ABS 1.01%
Eli Lilly & Co US Corporate 1.00%
HSBC Holdings PLC Foreign Corporate 0.93%
Wal-Mart Stores US Corporate 0.88%
Cisco Systems US Corporate 0.86%
17
ATTACHMENT 1
Issuers
City of Dublin –Account #10198 As of 6/30/2018
Issue Name Investment Type % Portfolio
Pepsico Inc US Corporate 0.83%
General Dynamics Corp US Corporate 0.72%
HSBC Holdings PLC US Corporate 0.63%
American Express ABS ABS 0.62%
ChevronTexaco Corp US Corporate 0.62%
Nissan ABS ABS 0.18%
Total 100.00%
18
ATTACHMENT 1
AAA AA A <A NR
06/30/18 5.1%74.0%16.3%0.0%4.6%
03/31/18 4.9%74.6%15.2%0.0%5.3%
Source: S&P Ratings
Quality Distribution
June 30, 2018 vs. March 31, 2018
City of Dublin
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
AAA AA A <A NR
6/30/2018 3/31/2018
19
ATTACHMENT 1
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
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 June 30, 2018
0 -0.25 0.25 -0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+
Portfolio 5.0% 2.6% 6.7% 24.1% 24.6% 25.1% 11.9% 0.0%
Benchmark*0.0% 0.0% 1.6% 33.7% 29.1% 20.9% 14.6% 0.0%
*ICE BAML 1-5 Yr US Treasury/Agency Index
20
ATTACHMENT 1
Investment Performance
-0.60%
-0.40%
-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
June 30, 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 0.25%-0.04%-0.01%0.82%N/A N/A 0.85%
ICE BAML 1-5 Yr US Treasury/Agency Index 0.14%-0.32%-0.40%0.52%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 1
Portfolio Characteristics
City of Dublin Reporting Account
6/30/2018 3/31/2018
Portfolio Portfolio
Average Maturity (yrs)0.00 0.00
Modified Duration 0.00 0.00
Average Purchase Yield 1.93%1.63%
Average Market Yield 1.93%1.62%
Average Quality AAA/NR AAA/NR
Total Market Value 96,341,584 81,088,412
22
ATTACHMENT 1
LAIF
42.3%Local Gov
Investment
Pool
57.7%
Sector Distribution
City of Dublin Reporting Account
June 30, 2018 March 31, 2018
LAIF
50.0%
Local Gov
Investment
Pool
50.0%
23
ATTACHMENT 1
Issuers
City of Dublin Reporting Account –Account #10219 As of 6/30/2018
Issue Name Investment Type % Portfolio
CAMP Local Gov Investment Pool 57.72%
Local Agency Investment Fund LAIF 42.28%
Total 100.00%
24
ATTACHMENT 1
SECTION 3
Consolidated Information
25
ATTACHMENT 1
Portfolio Characteristics
City of Dublin Consolidated
6/30/2018 3/31/2018
Portfolio Portfolio
Average Maturity (yrs)1.63 1.66
Modified Duration 1.51 1.55
Average Purchase Yield 1.91%1.72%
Average Market Yield 2.40%2.18%
Average Quality AA+/Aaa AA+/Aaa
Total Market Value 254,299,172 238,654,502
26
ATTACHMENT 1
ABS
2.7%
Agency
19.0%
Foreign
Corporate
0.6%
LAIF
16.0%
Local Gov
Investment
Pool
21.9%
Money Market
Fund FI
0.9%
Negotiable
CD
1.1%
Supranational
1.7%
US Corporate
14.7%
US Treasury
21.4%
Sector Distribution
City of Dublin Consolidated
June 30, 2018 March 31, 2018
ABS
2.9%
Agency
20.3%
Foreign
Corporate
0.6%
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
21.7%
Commercial
Paper
1.3%
27
ATTACHMENT 1
SECTION 4
Portfolio Holdings
28
ATTACHMENT 1
Holdings Report
For the Month Ending 6/30/2018
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
89231LAB3 Toyota Auto Receivables Owner 2016-D
1.060% Due 05/15/2019
35,424.03 10/04/2016
0.80%
35,421.20
35,423.08
99.93
9.14%
35,400.94
16.69
0.02%
(22.14)
Aaa / AAA
NR
0.87
0.03
43814TAB8 Honda Auto Receivables 2017-1 A2
1.420% Due 07/22/2019
178,524.54 03/21/2017
1.28%
178,520.28
178,522.60
99.86
2.56%
178,272.93
70.42
0.11%
(249.67)
Aaa / NR
AAA
1.06
0.12
47787XAB3 John Deere Owner Trust 2017-A A2
1.500% Due 10/15/2019
249,047.33 02/22/2017
1.23%
249,046.34
249,046.84
99.83
2.52%
248,624.64
166.03
0.16%
(422.20)
Aaa / NR
AAA
1.29
0.17
654747AB0 Nissan Auto Receivables 2017-A A2A
1.470% Due 01/15/2020
291,975.12 03/21/2017
1.24%
291,973.64
291,974.31
99.73
2.57%
291,191.40
190.76
0.18%
(782.91)
Aaa / NR
AAA
1.55
0.24
43814PAB6 Honda Auto Receivables Owner T 17-3 A2
1.570% Due 01/21/2020
356,517.53 09/25/2017
1.14%
356,485.84
356,496.17
99.58
2.63%
355,037.25
202.13
0.22%
(1,458.92)
NR / AAA
AAA
1.56
0.39
47788MAC4 John Deere Owner Trust 2016-A A3
1.360% Due 04/15/2020
550,140.87 02/23/2016
1.03%
550,054.27
550,103.24
99.55
2.62%
547,659.62
332.53
0.35%
(2,443.62)
Aaa / NR
AAA
1.79
0.36
43814QAC2 Honda Auto Receivables 2016-2 A3
1.390% Due 04/15/2020
455,969.80 05/24/2016
1.19%
455,960.96
455,965.71
99.47
2.67%
453,544.82
281.69
0.29%
(2,420.89)
Aaa / NR
AAA
1.79
0.41
47788BAB0 John Deere Owner Trust 2017-B A2A
1.590% Due 04/15/2020
285,872.08 07/11/2017
1.30%
285,847.24
285,855.87
99.62
2.59%
284,787.06
202.02
0.18%
(1,068.81)
Aaa / NR
AAA
1.79
0.38
89238BAB8 Toyota Auto Receivables Owner 2018-A A2A
2.100% Due 10/15/2020
1,975,000.00 01/23/2018
1.91%
1,974,798.16
1,974,829.01
99.63
2.62%
1,967,611.47
1,843.33
1.25%
(7,217.54)
Aaa / AAA
NR
2.30
0.73
47788BAD6 John Deere Owner Trust 2017-B A3
1.820% Due 10/15/2021
320,000.00 07/11/2017
1.61%
319,976.58
319,981.84
98.55
2.88%
315,351.04
258.84
0.20%
(4,630.80)
Aaa / NR
AAA
3.30
1.38
47788CAC6 John Deere Owner Trust 2016-B A4
2.660% Due 04/18/2022
515,000.00 02/21/2018
2.68%
514,962.97
514,965.99
99.49
2.95%
512,352.37
608.84
0.32%
(2,613.62)
Aaa / NR
AAA
3.80
1.85
43814UAG4 Honda Auto Receivables 2018-2 A3
3.010% Due 05/18/2022
610,000.00 05/22/2018
3.03%
609,986.70
609,986.99
100.12
2.97%
610,750.30
663.04
0.39%
763.31
NR / AAA
AAA
3.88
2.25
02582JHE3 American Express Credit 2017-3 A
1.770% Due 11/15/2022
1,000,000.00 06/28/2018
2.69%
980,625.00
980,649.22
98.04
2.92%
980,385.00
786.67
0.62%
(264.22)
NR / AAA
AAA
4.38
1.17
Total ABS 6,823,471.30 1.91%
6,803,659.18
6,803,800.87 2.76%
6,780,968.84
5,622.99
4.30%
(22,832.03)
Aaa / AAA
Aaa
2.66
0.90
Agency
3135G0G72 FNMA Note
1.125% Due 12/14/2018
2,500,000.00 12/18/2015
1.37%
2,481,975.00
2,497,252.39
99.55
2.13%
2,488,697.50
1,328.13
1.58%
(8,554.89)
Aaa / AA+
AAA
0.46
0.45
3133782M2 FHLB Note
1.500% Due 03/08/2019
2,750,000.00 04/24/2015
1.21%
2,779,892.50
2,755,296.33
99.49
2.24%
2,736,107.00
12,947.92
1.74%
(19,189.33)
Aaa / AA+
AAA
0.69
0.68
3137EADG1 FHLMC Note
1.750% Due 05/30/2019
1,000,000.00 01/29/2015
1.28%
1,019,690.00
1,004,147.23
99.44
2.37%
994,429.00
1,506.94
0.63%
(9,718.23)
Aaa / AA+
AAA
0.92
0.90
3135G0ZG1 FNMA Note
1.750% Due 09/12/2019
2,500,000.00 10/28/2014
1.68%
2,508,350.00
2,502,055.82
99.19
2.44%
2,479,762.50
13,246.53
1.58%
(22,293.32)
Aaa / AA+
AAA
1.20
1.17
3137EADM8 FHLMC Note
1.250% Due 10/02/2019
2,500,000.00 12/18/2015
1.64%
2,464,700.00
2,488,292.98
98.48
2.49%
2,462,015.00
7,725.69
1.56%
(26,277.98)
Aaa / AA+
AAA
1.26
1.23
City of Dublin -Account #10198
29
ATTACHMENT 1
Holdings Report
For the Month Ending 6/30/2018
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
3135G0A78 FNMA Note
1.625% Due 01/21/2020
2,000,000.00 04/07/2015
1.44%
2,016,580.00
2,005,393.95
98.67
2.50%
1,973,314.00
14,444.44
1.26%
(32,079.95)
Aaa / AA+
AAA
1.56
1.52
313383HU8 FHLB Note
1.750% Due 06/12/2020
2,000,000.00 10/08/2015
1.46%
2,026,040.00
2,010,855.08
98.37
2.61%
1,967,454.00
1,847.22
1.25%
(43,401.08)
Aaa / AA+
NR
1.95
1.90
3137EAEK1 FHLMC Note
1.875% Due 11/17/2020
2,400,000.00 11/28/2017
1.91%
2,397,336.00
2,397,861.92
98.15
2.68%
2,355,650.40
5,500.00
1.49%
(42,211.52)
Aaa / AA+
AAA
2.39
2.30
3135G0F73 FNMA Note
1.500% Due 11/30/2020
2,500,000.00 12/04/2015
1.87%
2,455,750.00
2,478,531.46
97.33
2.65%
2,433,167.50
3,229.17
1.54%
(45,363.96)
Aaa / AA+
AAA
2.42
2.35
3130A7CV5 FHLB Note
1.375% Due 02/18/2021
3,470,000.00 Various
1.45%
3,457,221.20
3,463,229.65
96.80
2.64%
3,359,084.92
17,627.12
2.14%
(104,144.73)
Aaa / AA+
AAA
2.64
2.55
3135G0J20 FNMA Note
1.375% Due 02/26/2021
5,000,000.00 Various
1.29%
5,018,675.00
5,010,791.96
96.76
2.64%
4,838,245.00
23,871.52
3.08%
(172,546.96)
Aaa / AA+
AAA
2.66
2.57
313379RB7 FHLB Note
1.875% Due 06/11/2021
3,000,000.00 08/30/2017
1.67%
3,022,620.00
3,017,637.04
97.65
2.71%
2,929,431.00
3,125.00
1.86%
(88,206.04)
Aaa / AA+
AAA
2.95
2.84
3130A8QS5 FHLB Note
1.125% Due 07/14/2021
2,500,000.00 07/25/2016
1.28%
2,481,475.00
2,488,674.63
95.69
2.61%
2,392,295.00
13,046.88
1.52%
(96,379.63)
Aaa / AA+
AAA
3.04
2.94
3137EAEC9 FHLMC Note
1.125% Due 08/12/2021
3,000,000.00 Various
1.33%
2,971,215.00
2,981,801.22
95.43
2.66%
2,862,933.00
13,031.26
1.82%
(118,868.22)
Aaa / AA+
AAA
3.12
3.02
3135G0Q89 FNMA Note
1.375% Due 10/07/2021
2,000,000.00 10/06/2016
1.45%
1,992,924.00
1,995,373.09
95.86
2.71%
1,917,100.00
6,416.67
1.22%
(78,273.09)
Aaa / AA+
AAA
3.27
3.15
3135G0S38 FNMA Note
2.000% Due 01/05/2022
2,500,000.00 01/30/2017
2.04%
2,495,475.00
2,496,772.17
97.47
2.76%
2,436,735.00
24,444.44
1.56%
(60,037.17)
Aaa / AA+
AAA
3.52
3.33
313378CR0 FHLB Note
2.250% Due 03/11/2022
2,000,000.00 06/19/2017
1.86%
2,035,280.00
2,027,589.98
98.21
2.76%
1,964,174.00
13,750.00
1.25%
(63,415.98)
Aaa / AA+
NR
3.70
3.49
3135G0T45 FNMA Note
1.875% Due 04/05/2022
3,250,000.00 05/05/2017
1.99%
3,232,125.00
3,236,302.15
96.95
2.73%
3,150,813.25
14,557.29
2.00%
(85,488.90)
Aaa / AA+
AAA
3.77
3.58
3135G0T94 FNMA Note
2.375% Due 01/19/2023
2,500,000.00 03/28/2018
2.70%
2,463,675.00
2,465,618.40
98.19
2.80%
2,454,807.50
26,059.03
1.57%
(10,810.90)
Aaa / AA+
AAA
4.56
4.24
Total Agency 49,370,000.00 1.62%
49,320,998.70
49,323,477.45 2.60%
48,196,215.57
217,705.25
30.65%
(1,127,261.88)
Aaa / AA+
Aaa
2.50
2.40
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
1,487,877.76
96.82
3.62%
1,452,348.00
19,433.33
0.93%
(35,529.76)
A2 / A
AA-
3.52
3.27
Total Foreign Corporate 1,500,000.00 2.89%
1,486,320.00
1,487,877.76 3.62%
1,452,348.00
19,433.33
0.93%
(35,529.76)
A2 / A
AA-
3.52
3.27
City of Dublin -Account #10198
30
ATTACHMENT 1
Holdings Report
For the Month Ending 6/30/2018
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
Money Market Fund FI
31846V203 First American Govt Obligation Fund 2,291,367.29 Various
1.50%
2,291,367.29
2,291,367.29
1.00
1.50%
2,291,367.29
0.00
1.45%
0.00
Aaa / AAA
AAA
0.00
0.00
Total Money Market Fund FI 2,291,367.29 1.50%
2,291,367.29
2,291,367.29 1.50%
2,291,367.29
0.00
1.45%
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
39,452.79
1.78%
0.00
P-1 / A-1
NR
0.11
0.11
Total Negotiable CD 2,775,000.00 1.57%
2,775,000.00
2,775,000.00 1.57%
2,775,000.00
39,452.79
1.78%
0.00
Aaa / AA
NR
0.11
0.11
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
1,991,844.80
97.20
2.83%
1,944,048.00
17,222.22
1.24%
(47,796.80)
Aaa / NR
AAA
3.58
3.39
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
2,457,560.21
95.77
2.82%
2,394,192.50
13,003.47
1.52%
(63,367.71)
NR / NR
AAA
4.21
3.99
Total Supranational 4,500,000.00 2.15%
4,441,995.00
4,449,405.01 2.83%
4,338,240.50
30,225.69
2.77%
(111,164.51)
Aaa / NR
Aaa
3.93
3.72
US Corporate
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
1,000,004.25
99.96
2.51%
999,630.00
8,750.00
0.64%
(374.25)
A1 / A
AA-
0.09
0.09
084664BY6 Berkshire Hathaway Note
2.000% Due 08/15/2018
1,000,000.00 12/12/2013
1.89%
1,004,960.00
1,000,131.14
99.93
2.54%
999,300.00
7,555.56
0.64%
(831.14)
Aa2 / AA
A+
0.13
0.12
17275RAR3 Cisco Systems Note
2.125% Due 03/01/2019
1,350,000.00 11/14/2014
2.05%
1,354,063.50
1,350,631.75
99.75
2.50%
1,346,620.95
9,562.50
0.86%
(4,010.80)
A1 / AA-
NR
0.67
0.66
532457BF4 Eli Lilly & Co Note
1.950% Due 03/15/2019
1,575,000.00 Various
1.91%
1,577,796.75
1,575,458.12
99.53
2.63%
1,567,526.63
9,043.13
1.00%
(7,931.49)
A2 / AA-
A
0.71
0.69
94974BFU9 Wells Fargo Corp Note
2.125% Due 04/22/2019
1,900,000.00 Various
2.07%
1,904,120.50
1,900,846.99
99.44
2.83%
1,889,285.90
7,738.54
1.20%
(11,561.09)
A2 / A-
A+
0.81
0.79
02665WAH4 American Honda Finance Note
2.250% Due 08/15/2019
1,800,000.00 Various
2.08%
1,812,627.00
1,803,333.84
99.43
2.77%
1,789,727.40
15,300.00
1.14%
(13,606.44)
A2 / A+
NR
1.13
1.09
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
753,814.51
99.46
2.80%
745,941.00
5,270.83
0.48%
(7,873.51)
A1 / A
AA-
1.20
1.08
68389XAX3 Oracle Corp Note
2.250% Due 10/08/2019
1,250,000.00 Various
1.73%
1,272,172.50
1,257,973.29
99.48
2.67%
1,243,467.50
6,484.38
0.79%
(14,505.79)
A1 / AA-
A+
1.27
1.24
40428HPN6 HSBC USA Inc Note
2.375% Due 11/13/2019
1,000,000.00 11/07/2014
2.32%
1,002,440.00
1,000,668.13
99.02
3.11%
990,199.00
3,166.67
0.63%
(10,469.13)
A2 / A
AA-
1.37
1.33
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
1,796,749.99
98.71
3.10%
1,776,846.60
17,775.00
1.14%
(19,903.39)
A3 / A-
AA-
1.57
1.51
City of Dublin -Account #10198
31
ATTACHMENT 1
Holdings Report
For the Month Ending 6/30/2018
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
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
1,329,722.40
98.24
2.89%
1,306,580.03
4,169.18
0.83%
(23,142.37)
A1 / A+
A
1.84
1.70
747525AD5 Qualcomm Inc Note
2.250% Due 05/20/2020
2,000,000.00 Various
2.22%
2,001,128.80
2,001,079.59
98.53
3.06%
1,970,514.01
5,125.00
1.25%
(30,565.58)
A1 / A
NR
1.89
1.83
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
1,013,434.46
98.55
3.11%
985,496.00
11,017.36
0.63%
(27,938.46)
A2 / A
A
2.04
1.95
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
2,002,213.54
98.22
3.12%
1,964,410.00
7,411.11
1.25%
(37,803.54)
A3 / A
A
2.35
2.17
24422ETF6 John Deere Capital Corp Note
2.550% Due 01/08/2021
750,000.00 Various
2.42%
753,733.15
752,327.96
98.75
3.07%
740,655.00
9,190.62
0.47%
(11,672.96)
A2 / A
A
2.53
2.39
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
1,807,290.45
98.16
2.94%
1,766,871.00
13,332.00
1.13%
(40,419.45)
Aaa / AA+
NR
2.67
2.55
369550BE7 General Dynamics Corp Note
3.000% Due 05/11/2021
1,130,000.00 05/08/2018
3.24%
1,122,146.50
1,122,511.95
99.68
3.12%
1,126,369.31
4,708.33
0.72%
3,857.36
A2 / A+
NR
2.87
2.71
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
1,000,134.62
97.66
2.95%
976,600.00
2,625.00
0.62%
(23,534.62)
Aa2 / AA-
NR
2.88
2.76
857477AV5 State Street Bank Note
1.950% Due 05/19/2021
1,800,000.00 Various
1.91%
1,802,989.00
1,801,921.11
96.88
3.09%
1,743,805.81
4,095.01
1.11%
(58,115.30)
A1 / A
AA-
2.89
2.77
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
1,847,779.46
95.89
2.94%
1,773,977.96
11,390.35
1.13%
(73,801.50)
Aaa / AAA
AA+
3.11
2.98
68389XBK0 Oracle Corp Callable Note Cont 8/01/21
1.900% Due 09/15/2021
1,000,000.00 06/28/2018
3.08%
964,080.00
964,141.19
95.24
3.48%
952,419.00
5,594.44
0.61%
(11,722.19)
A1 / AA-
A+
3.21
3.05
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
2,017,696.70
97.84
3.27%
1,956,822.00
22,895.83
1.25%
(60,874.70)
A1 / A+
AA-
3.57
3.33
44932HAH6 IBM Credit Corp Note
3.000% Due 02/06/2023
2,000,000.00 02/26/2018
3.09%
1,991,340.00
1,991,930.45
97.79
3.52%
1,955,782.00
24,166.67
1.25%
(36,148.45)
A1 / A+
A+
4.61
4.20
084670BR8 Berkshire Hathaway Callable Note Cont 1/15/2023
2.750% Due 03/15/2023
1,000,000.00 04/20/2018
3.28%
976,380.00
977,279.31
97.86
3.24%
978,613.00
8,097.22
0.62%
1,333.69
Aa2 / AA
A+
4.71
4.34
69353RFL7 PNC Bank Callable Note Cont 5/9/2023
3.500% Due 06/08/2023
2,210,000.00 Various
3.53%
2,206,955.80
2,206,988.76
100.14
3.47%
2,213,195.66
4,941.80
1.40%
6,206.90
A2 / A
A+
4.94
4.42
931142EK5 Wal-Mart Stores Callable Note Cont 5/26/2023
3.400% Due 06/26/2023
1,380,000.00 Various
3.41%
1,379,641.30
1,379,642.09
100.74
3.24%
1,390,271.35
521.34
0.88%
10,629.26
Aa2 / AA
AA
4.99
4.49
Total US Corporate 37,675,000.00 2.34%
37,729,139.55
37,655,706.05 3.02%
37,150,927.11
229,927.87
23.67%
(504,778.94)
A1 / A+
A+
2.42
2.26
US Treasury
912828D80 US Treasury Note
1.625% Due 08/31/2019
2,500,000.00 Various
1.78%
2,481,518.80
2,495,652.49
99.09
2.42%
2,477,345.00
13,578.46
1.58%
(18,307.49)
Aaa / AA+
AAA
1.17
1.14
912828G61 US Treasury Note
1.500% Due 11/30/2019
2,000,000.00 Various
1.45%
2,003,378.10
2,001,248.32
98.65
2.47%
1,973,046.00
2,540.98
1.25%
(28,202.32)
Aaa / AA+
AAA
1.42
1.39
912828G95 US Treasury Note
1.625% Due 12/31/2019
3,000,000.00 01/08/2015
1.50%
3,017,470.99
3,005,280.81
98.76
2.47%
2,962,734.00
132.47
1.88%
(42,546.81)
Aaa / AA+
AAA
1.50
1.47
City of Dublin -Account #10198
32
ATTACHMENT 1
Holdings Report
For the Month Ending 6/30/2018
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
912828H52 US Treasury Note
1.250% Due 01/31/2020
4,500,000.00 Various
1.53%
4,440,542.42
4,480,828.43
98.09
2.49%
4,413,865.50
23,463.40
2.81%
(66,962.93)
Aaa / AA+
AAA
1.59
1.55
912828K58 US Treasury Note
1.375% Due 04/30/2020
1,750,000.00 05/06/2015
1.55%
1,735,171.88
1,744,549.44
97.95
2.52%
1,714,179.25
4,054.01
1.09%
(30,370.19)
Aaa / AA+
AAA
1.84
1.79
912828XE5 US Treasury Note
1.500% Due 05/31/2020
3,000,000.00 Various
1.67%
2,976,025.68
2,990,646.94
98.07
2.54%
2,942,109.00
3,811.47
1.87%
(48,537.94)
Aaa / AA+
AAA
1.92
1.87
912828XM7 US Treasury Note
1.625% Due 07/31/2020
1,500,000.00 09/08/2015
1.52%
1,507,622.21
1,503,245.94
98.12
2.56%
1,471,758.00
10,167.47
0.94%
(31,487.94)
Aaa / AA+
AAA
2.09
2.02
912828L99 US Treasury Note
1.375% Due 10/31/2020
5,000,000.00 Various
1.69%
4,927,376.14
4,965,391.67
97.28
2.58%
4,864,060.00
11,582.88
3.09%
(101,331.67)
Aaa / AA+
AAA
2.34
2.27
912828N89 US Treasury Note
1.375% Due 01/31/2021
2,000,000.00 03/15/2016
1.49%
1,988,834.83
1,994,079.08
96.95
2.60%
1,938,984.00
11,470.99
1.23%
(55,095.08)
Aaa / AA+
AAA
2.59
2.50
912828S76 US Treasury Note
1.125% Due 07/31/2021
1,500,000.00 12/12/2016
1.89%
1,449,262.83
1,466,215.23
95.55
2.63%
1,433,320.50
7,039.02
0.91%
(32,894.73)
Aaa / AA+
AAA
3.09
2.99
912828T34 US Treasury Note
1.125% Due 09/30/2021
2,750,000.00 Various
1.66%
2,682,431.10
2,704,600.82
95.28
2.65%
2,620,125.75
7,776.64
1.66%
(84,475.07)
Aaa / AA+
AAA
3.25
3.15
912828U65 US Treasury Note
1.750% Due 11/30/2021
2,500,000.00 12/28/2016
2.06%
2,464,461.50
2,475,318.84
97.05
2.66%
2,426,172.50
3,705.60
1.54%
(49,146.34)
Aaa / AA+
AAA
3.42
3.28
912828V72 US Treasury Note
1.875% Due 01/31/2022
1,500,000.00 02/27/2017
1.84%
1,502,407.37
1,501,753.98
97.28
2.67%
1,459,218.00
11,731.70
0.93%
(42,535.98)
Aaa / AA+
AAA
3.59
3.41
912828J76 US Treasury Note
1.750% Due 03/31/2022
3,000,000.00 04/25/2017
1.85%
2,985,830.37
2,989,223.21
96.69
2.68%
2,900,625.00
13,196.72
1.84%
(88,598.21)
Aaa / AA+
AAA
3.75
3.58
912828WZ9 US Treasury Note
1.750% Due 04/30/2022
2,750,000.00 05/23/2017
1.84%
2,738,944.75
2,741,417.15
96.58
2.69%
2,656,005.00
8,152.32
1.69%
(85,412.15)
Aaa / AA+
AAA
3.84
3.66
912828XR6 US Treasury Note
1.750% Due 05/31/2022
1,500,000.00 06/28/2017
1.81%
1,496,020.65
1,496,833.35
96.50
2.70%
1,447,441.50
2,223.36
0.92%
(49,391.85)
Aaa / AA+
AAA
3.92
3.75
912828XW5 US Treasury Note
1.750% Due 06/30/2022
3,000,000.00 07/25/2017
1.86%
2,984,072.55
2,987,081.07
96.41
2.70%
2,892,423.00
142.66
1.83%
(94,658.07)
Aaa / AA+
AAA
4.00
3.83
912828L24 US Treasury Note
1.875% Due 08/31/2022
2,000,000.00 09/27/2017
1.92%
1,995,944.20
1,996,566.78
96.74
2.71%
1,934,766.00
12,533.97
1.23%
(61,800.78)
Aaa / AA+
AAA
4.17
3.95
912828L57 US Treasury Note
1.750% Due 09/30/2022
3,750,000.00 Various
2.02%
3,702,841.80
3,709,074.92
96.18
2.71%
3,606,885.00
16,495.90
2.29%
(102,189.92)
Aaa / AA+
AAA
4.25
4.04
912828M49 US Treasury Note
1.875% Due 10/31/2022
1,000,000.00 01/30/2018
2.47%
973,359.38
975,679.30
96.59
2.71%
965,938.00
3,158.97
0.61%
(9,741.30)
Aaa / AA+
AAA
4.34
4.11
9128284D9 US Treasury Note
2.500% Due 03/31/2023
3,750,000.00 Various
2.75%
3,706,123.05
3,707,806.13
99.00
2.73%
3,712,500.00
23,565.58
2.37%
4,693.87
Aaa / AA+
AAA
4.75
4.42
City of Dublin -Account #10198
33
ATTACHMENT 1
Holdings Report
For the Month Ending 6/30/2018
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
912828R69 US Treasury Note
1.625% Due 05/31/2023
1,500,000.00 05/30/2018
2.67%
1,427,167.97
1,428,404.44
94.94
2.73%
1,424,062.50
2,064.55
0.90%
(4,341.94)
Aaa / AA+
AAA
4.92
4.67
Total US Treasury 55,750,000.00 1.84%
55,186,808.57
55,360,898.34 2.61%
54,237,563.50
192,589.12
34.46%
(1,123,334.84)
Aaa / AA+
Aaa
3.00
2.87
TOTAL PORTFOLIO 160,684,838.59 1.90%
160,035,288.29
160,147,532.77 2.69%
157,222,630.81
734,957.04
100.00%
(2,924,901.96)
Aa1 / AA
Aaa
2.63
2.43
TOTAL MARKET VALUE PLUS ACCRUALS 157,957,587.85
City of Dublin -Account #10198
34
ATTACHMENT 1
Holdings Report
For the Month Ending 6/30/2018
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 40,552,349.14 Various
1.90%
40,552,349.14
40,552,349.14
1.00
1.90%
40,552,349.14
177,827.41
42.28%
0.00
NR / NR
NR
0.00
0.00
Total LAIF 40,552,349.14 1.90%
40,552,349.14
40,552,349.14 1.90%
40,552,349.14
177,827.41
42.28%
0.00
NR / NR
NR
0.00
0.00
Local Gov Investment Pool
90CAMP$00 California Asset Mgmt Program CAMP 55,611,407.46 Various
1.96%
55,611,407.46
55,611,407.46
1.00
1.96%
55,611,407.46
0.00
57.72%
0.00
NR / AAA
NR
0.00
0.00
Total Local Gov Investment Pool 55,611,407.46 1.96%
55,611,407.46
55,611,407.46 1.96%
55,611,407.46
0.00
57.72%
0.00
NR / AAA
NR
0.00
0.00
TOTAL PORTFOLIO 96,163,756.60 1.93%
96,163,756.60
96,163,756.60 1.93%
96,163,756.60
177,827.41
100.00%
0.00
NR / AAA
NR
0.00
0.00
TOTAL MARKET VALUE PLUS ACCRUALS 96,341,584.01
City of Dublin Reporting Account -Account #10219
35
ATTACHMENT 1
SECTION 5
Transactions
36
ATTACHMENT 1
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 04/18/2018 9128284D9 2,000,000.00 US Treasury Note
2.5% Due: 03/31/2023 99.129 2.69%1,982,578.13 2,459.02 1,985,037.15 0.00
Purchase 04/24/2018 084670BR8 1,000,000.00 Berkshire Hathaway Callable Note Cont 1/15/2023
2.75% Due: 03/15/2023 97.638 3.28%976,380.00 2,979.17 979,359.17 0.00
Purchase 04/26/2018 9128284D9 1,750,000.00 US Treasury Note
2.5% Due: 03/31/2023 98.488 2.83%1,723,544.92 3,107.92 1,726,652.84 0.00
Purchase 05/11/2018 369550BE7 1,130,000.00 General Dynamics Corp Note
3% Due: 05/11/2021 99.305 3.24%1,122,146.50 0.00 1,122,146.50 0.00
Purchase 05/30/2018 43814UAG4 610,000.00 Honda Auto Receivables 2018-2 A3
3.01% Due: 05/18/2022 99.998 3.03%609,986.70 0.00 609,986.70 0.00
Purchase 05/31/2018 912828R69 1,500,000.00 US Treasury Note
1.625% Due: 05/31/2023 95.145 2.67%1,427,167.97 0.00 1,427,167.97 0.00
Purchase 06/08/2018 69353RFL7 930,000.00 PNC Bank Callable Note Cont 5/9/2023
3.5% Due: 06/08/2023 99.886 3.53%928,939.80 0.00 928,939.80 0.00
Purchase 06/13/2018 69353RFL7 1,280,000.00 PNC Bank Callable Note Cont 5/9/2023
3.5% Due: 06/08/2023 99.845 3.53%1,278,016.00 622.22 1,278,638.22 0.00
Purchase 06/27/2018 931142EK5 685,000.00 Wal-Mart Stores Callable Note Cont 5/26/2023
3.4% Due: 06/26/2023 99.973 3.41%684,815.05 0.00 684,815.05 0.00
Purchase 06/27/2018 931142EK5 695,000.00 Wal-Mart Stores Callable Note Cont 5/26/2023
3.4% Due: 06/26/2023 99.975 3.41%694,826.25 0.00 694,826.25 0.00
Purchase 06/29/2018 02582JHE3 1,000,000.00 American Express Credit 2017-3 A
1.77% Due: 11/15/2022 98.063 2.69%980,625.00 688.33 981,313.33 0.00
Purchase 06/29/2018 68389XBK0 1,000,000.00 Oracle Corp Callable Note Cont 8/01/21
1.9% Due: 09/15/2021 96.408 3.08%964,080.00 5,488.89 969,568.89 0.00
Subtotal 13,580,000.00 13,373,106.32 15,345.55 13,388,451.87 0.00
TOTAL ACQUISITIONS 13,580,000.00 13,373,106.32 15,345.55 13,388,451.87 0.00
DISPOSITIONS
Sale 04/18/2018 912828C24 1,750,000.00 US Treasury Note
1.5% Due: 02/28/2019 99.418 2.18%1,739,814.45 3,495.24 1,743,309.69 -10251.97
March 31, 2018 through June 30, 2018
37
ATTACHMENT 1
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 06/12/2018 912828D80 500,000.00 US Treasury Note
1.625% Due: 08/31/2019 99.047 2.42%495,234.38 2,296.20 497,530.58 -3857.33
Subtotal 2,250,000.00 2,235,048.83 5,791.44 2,240,840.27 -14,109.30
Maturity 04/30/2018 713448CR7 1,430,000.00 PepsiCo Inc Note
1.25% Due: 04/30/2018 100.000 1,430,000.00 0.00 1,430,000.00 0.00
Maturity 05/03/2018 037833AJ9 1,750,000.00 Apple Inc Note
1% Due: 05/03/2018 100.000 1,750,000.00 0.00 1,750,000.00 0.00
Maturity 06/13/2018 06538CFD8 3,145,000.00 Bank of Tokyo Mitsubishi NY Discount CP
2.1% Due: 06/13/2018 99.463 3,145,000.00 0.00 3,145,000.00 0.00
Maturity 06/24/2018 166764AE0 1,750,000.00 Chevron Corp Callable Note Cont 5/24/2018
1.718% Due: 06/24/2018 100.000 1,750,000.00 0.00 1,750,000.00 0.00
Subtotal 8,075,000.00 8,075,000.00 0.00 8,075,000.00 0.00
TOTAL DISPOSITIONS 11,940,426.34 11,925,475.17 34,663.24 11,960,138.41 -14,109.30
March 31, 2018 through June 30, 2018
38
ATTACHMENT 1
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 04/15/2018 90LAIF$00 150,319.97 Local Agency Investment Fund State Pool 1.000 1.57%150,319.97 0.00 150,319.97 0.00
Purchase 04/30/2018 90CAMP$00 83,099.50 California Asset Mgmt Program CAMP 1.000 1.92%83,099.50 0.00 83,099.50 0.00
Purchase 05/31/2018 90CAMP$00 93,388.96 California Asset Mgmt Program CAMP 1.000 1.96%93,388.96 0.00 93,388.96 0.00
Purchase 06/30/2018 90CAMP$00 91,255.87 California Asset Mgmt Program CAMP 1.000 1.96%91,255.87 0.00 91,255.87 0.00
Subtotal 418,064.30 418,064.30 0.00 418,064.30 0.00
Security
Contribution 04/02/2018 90CAMP$00 9,500,000.00 California Asset Mgmt Program CAMP 1.000 9,500,000.00 0.00 9,500,000.00 0.00
Security
Contribution 04/13/2018 90CAMP$00 13,000,000.00 California Asset Mgmt Program CAMP 1.000 13,000,000.00 0.00 13,000,000.00 0.00
Security
Contribution 04/27/2018 90CAMP$00 1,300,000.00 California Asset Mgmt Program CAMP 1.000 1,300,000.00 0.00 1,300,000.00 0.00
Security
Contribution 05/25/2018 90CAMP$00 2,000,000.00 California Asset Mgmt Program CAMP 1.000 2,000,000.00 0.00 2,000,000.00 0.00
Security
Contribution 06/26/2018 90CAMP$00 2,000,000.00 California Asset Mgmt Program CAMP 1.000 2,000,000.00 0.00 2,000,000.00 0.00
Subtotal 27,800,000.00 27,800,000.00 0.00 27,800,000.00 0.00
TOTAL ACQUISITIONS 28,218,064.30 28,218,064.30 0.00 28,218,064.30 0.00
DISPOSITIONS
Security
Withdrawal 04/09/2018 90CAMP$00 4,000,000.00 California Asset Mgmt Program CAMP 1.000 4,000,000.00 0.00 4,000,000.00 0.00
Security
Withdrawal 05/04/2018 90CAMP$00 2,000,000.00 California Asset Mgmt Program CAMP 1.000 2,000,000.00 0.00 2,000,000.00 0.00
Security
Withdrawal 05/14/2018 90CAMP$00 2,500,000.00 California Asset Mgmt Program CAMP 1.000 2,500,000.00 0.00 2,500,000.00 0.00
Security
Withdrawal 05/18/2018 90CAMP$00 3,000,000.00 California Asset Mgmt Program CAMP 1.000 3,000,000.00 0.00 3,000,000.00 0.00
Security
Withdrawal 06/08/2018 90CAMP$00 1,500,000.00 California Asset Mgmt Program CAMP 1.000 1,500,000.00 0.00 1,500,000.00 0.00
Subtotal 13,000,000.00 13,000,000.00 0.00 13,000,000.00 0.00
TOTAL DISPOSITIONS 13,000,000.00 13,000,000.00 0.00 13,000,000.00 0.00
March 31, 2018 through June 30, 2018
39
ATTACHMENT 1
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"
BASIS;ICE,ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND
REPRESENTATIONS, EXPRESS AND/OR IMPLIED,INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A
PARTICULAR PURPOSE OR USE,INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN,RELATED TO,OR DERIVED
THEREFROM.NEITHER ICE DATA,ITS AFFILIATES OR THEIR RESPECTIVE THIRD PARTY PROVIDERS GUARANTEE THE QUALITY,
ADEQUACY,ACCURACY,TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF,
AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN "AS IS" BASIS AND LICENSEE'S USE
IS AT LICENSEE'S OWN RISK.ICE DATA,ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE,OR
RECOMMEND CHANDLER ASSET MANAGEMENT,OR ANY OF ITS PRODUCTS OR SERVICES.
This report is provided for informational purposes only and should not be construed as a specific investment or legal advice.The information
contained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at
any time without notice.Any opinions or views expressed are based on current market conditions and are subject to change.This report may
contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results.Past
performance is not indicative of future results.This report is not intended to constitute an offer,solicitation,recommendation or advice regarding
any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment.
Fixed income investments are subject to interest,credit and market risk.Interest rate risk:the value of fixed income investments will decline as
interest rates rise.Credit risk:the possibility that the borrower may not be able to repay interest and principal.Low rated bonds generally have
to pay higher interest rates to attract investors willing to take on greater risk.Market risk:the bond market in general could decline due to
economic conditions, especially during periods of rising interest rates.
40
ATTACHMENT 1
Transaction Ledger
3/31/18 Thru 4/30/18
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 04/02/2018 31846V203 15,625.00 First American Govt Obligation Fund 1.000 1.22 %15,625.00 0.00 15,625.00 0.00
Purchase 04/02/2018 31846V203 3,942.56 First American Govt Obligation Fund 1.000 1.22 %3,942.56 0.00 3,942.56 0.00
Purchase 04/05/2018 31846V203 30,468.75 First American Govt Obligation Fund 1.000 1.22 %30,468.75 0.00 30,468.75 0.00
Purchase 04/07/2018 31846V203 13,750.00 First American Govt Obligation Fund 1.000 1.22 %13,750.00 0.00 13,750.00 0.00
Purchase 04/08/2018 31846V203 14,062.50 First American Govt Obligation Fund 1.000 1.22 %14,062.50 0.00 14,062.50 0.00
Purchase 04/15/2018 90LAIF$00 150,319.97 Local Agency Investment Fund State Pool 1.000 1.57 %150,319.97 0.00 150,319.97 0.00
Purchase 04/16/2018 31846V203 57,447.24 First American Govt Obligation Fund 1.000 1.22 %57,447.24 0.00 57,447.24 0.00
Purchase 04/16/2018 31846V203 61,715.07 First American Govt Obligation Fund 1.000 1.22 %61,715.07 0.00 61,715.07 0.00
Purchase 04/16/2018 31846V203 43,811.99 First American Govt Obligation Fund 1.000 1.22 %43,811.99 0.00 43,811.99 0.00
Purchase 04/16/2018 31846V203 485.33 First American Govt Obligation Fund 1.000 1.22 %485.33 0.00 485.33 0.00
Purchase 04/16/2018 31846V203 1,712.38 First American Govt Obligation Fund 1.000 1.22 %1,712.38 0.00 1,712.38 0.00
Purchase 04/16/2018 31846V203 79,038.11 First American Govt Obligation Fund 1.000 1.22 %79,038.11 0.00 79,038.11 0.00
Purchase 04/16/2018 31846V203 49,895.57 First American Govt Obligation Fund 1.000 1.22 %49,895.57 0.00 49,895.57 0.00
Purchase 04/16/2018 31846V203 64,557.74 First American Govt Obligation Fund 1.000 1.22 %64,557.74 0.00 64,557.74 0.00
Purchase 04/16/2018 31846V203 86,613.04 First American Govt Obligation Fund 1.000 1.22 %86,613.04 0.00 86,613.04 0.00
Purchase 04/16/2018 31846V203 35,994.82 First American Govt Obligation Fund 1.000 1.22 %35,994.82 0.00 35,994.82 0.00
Purchase 04/16/2018 31846V203 3,456.25 First American Govt Obligation Fund 1.000 1.22 %3,456.25 0.00 3,456.25 0.00
Purchase 04/18/2018 31846V203 22,399.13 First American Govt Obligation Fund 1.000 1.22 %22,399.13 0.00 22,399.13 0.00
Purchase 04/18/2018 9128284D9 2,000,000.00 US Treasury Note
2.5% Due 3/31/2023
99.129 2.69 %1,982,578.13 2,459.02 1,985,037.15 0.00
Purchase 04/22/2018 31846V203 20,187.50 First American Govt Obligation Fund 1.000 1.22 %20,187.50 0.00 20,187.50 0.00
Purchase 04/23/2018 31846V203 66,046.54 First American Govt Obligation Fund 1.000 1.22 %66,046.54 0.00 66,046.54 0.00
Purchase 04/23/2018 31846V203 71,745.30 First American Govt Obligation Fund 1.000 1.22 %71,745.30 0.00 71,745.30 0.00
Purchase 04/24/2018 084670BR8 1,000,000.00 Berkshire Hathaway Callable Note Cont
1/15/2023
2.75% Due 3/15/2023
97.638 3.28 %976,380.00 2,979.17 979,359.17 0.00
Purchase 04/26/2018 9128284D9 1,750,000.00 US Treasury Note
2.5% Due 3/31/2023
98.488 2.83 %1,723,544.92 3,107.92 1,726,652.84 0.00
Purchase 04/30/2018 31846V203 1,430,000.00 First American Govt Obligation Fund 1.000 1.27 %1,430,000.00 0.00 1,430,000.00 0.00
Purchase 04/30/2018 31846V203 101,083.75 First American Govt Obligation Fund 1.000 1.27 %101,083.75 0.00 101,083.75 0.00
Execution Time: 5/3/2018 6:15:35 AMChandler Asset Management - CONFIDENTIAL Page 8
ATTACHMENT 2
Transaction Ledger
3/31/18 Thru 4/30/18
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 04/30/2018 90CAMP$00 83,099.50 Public Financial Management CAMP 1.000 1.92 %83,099.50 0.00 83,099.50 0.00
Subtotal 7,257,458.04 7,189,961.09 8,546.11 7,198,507.20 0.00
Security
Contribution
04/02/2018 90CAMP$00 9,500,000.00 Public Financial Management CAMP 1.000 9,500,000.00 0.00 9,500,000.00 0.00
Security
Contribution
04/13/2018 90CAMP$00 13,000,000.00 Public Financial Management CAMP 1.000 13,000,000.00 0.00 13,000,000.00 0.00
Security
Contribution
04/27/2018 90CAMP$00 1,300,000.00 Public Financial Management CAMP 1.000 1,300,000.00 0.00 1,300,000.00 0.00
Subtotal 23,800,000.00 23,800,000.00 0.00 23,800,000.00 0.00
TOTAL ACQUISITIONS 31,057,458.04 30,989,961.09 8,546.11 30,998,507.20 0.00
DISPOSITIONS
Sale 04/18/2018 31846V203 241,727.46 First American Govt Obligation Fund 1.000 1.22 %241,727.46 0.00 241,727.46 0.00
Sale 04/18/2018 912828C24 1,750,000.00 US Treasury Note
1.5% Due 2/28/2019
99.418 2.18 %1,739,814.45 3,495.24 1,743,309.69 -10,251.97
Sale 04/24/2018 31846V203 979,359.17 First American Govt Obligation Fund 1.000 1.22 %979,359.17 0.00 979,359.17 0.00
Sale 04/26/2018 31846V203 1,726,652.84 First American Govt Obligation Fund 1.000 1.22 %1,726,652.84 0.00 1,726,652.84 0.00
Subtotal 4,697,739.47 4,687,553.92 3,495.24 4,691,049.16 -10,251.97
Paydown 04/16/2018 43814QAC2 56,735.39 Honda Auto Receivables 2016-2 A3
1.39% Due 4/15/2020
100.000 56,735.39 711.85 57,447.24 0.00
Paydown 04/16/2018 47787XAB3 61,172.32 John Deere Owner Trust 2017-A A2
1.5% Due 10/15/2019
100.000 61,172.32 542.75 61,715.07 0.00
Paydown 04/16/2018 47788BAB0 43,260.50 John Deere Owner Trust 2017-B A2A
1.59% Due 4/15/2020
100.000 43,260.50 551.49 43,811.99 0.00
Paydown 04/16/2018 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 04/16/2018 47788CAC6 0.00 John Deere Owener Trust 2016-B A4
2.66% Due 4/18/2022
100.000 0.00 1,712.38 1,712.38 0.00
Paydown 04/16/2018 47788MAC4 78,174.00 John Deere Owner Trust 2016-A A3
1.36% Due 4/15/2020
100.000 78,174.00 864.11 79,038.11 0.00
Paydown 04/16/2018 654747AB0 49,363.74 Nissan Auto Receivables 2017-A A2A
1.47% Due 1/15/2020
100.000 49,363.74 531.83 49,895.57 0.00
Execution Time: 5/3/2018 6:15:35 AMChandler Asset Management - CONFIDENTIAL Page 9
ATTACHMENT 2
Transaction Ledger
3/31/18 Thru 4/30/18
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 04/16/2018 65478WAB1 64,439.00 Nissan Auto Receivables Owner 2016-C
A2A
1.07% Due 5/15/2019
100.000 64,439.00 118.74 64,557.74 0.00
Paydown 04/16/2018 89231LAB3 86,362.83 Toyota Auto Receivables Owner 2016-D
1.06% Due 5/15/2019
100.000 86,362.83 250.21 86,613.04 0.00
Paydown 04/16/2018 89236WAC2 35,961.26 Toyota Auto Receivables Owner 2015-A
1.12% Due 2/15/2019
100.000 35,961.26 33.56 35,994.82 0.00
Paydown 04/16/2018 89238BAB8 0.00 Toyota Auto Receivables Owner 2018-A
A2A
2.1% Due 10/15/2020
100.000 0.00 3,456.25 3,456.25 0.00
Paydown 04/18/2018 43814PAB6 21,797.30 Honda Auto Receivables Owner T 17-3 A2
1.57% Due 1/21/2020
100.000 21,797.30 601.83 22,399.13 0.00
Paydown 04/23/2018 43813NAC0 65,989.23 Honda Auto Receivables 2015-2 A3
1.04% Due 2/21/2019
100.000 65,989.23 57.31 66,046.54 0.00
Paydown 04/23/2018 43814TAB8 71,297.04 Honda Auto Receivables 2017-1 A2
1.42% Due 7/22/2019
100.000 71,297.04 448.26 71,745.30 0.00
Subtotal 634,552.61 634,552.61 10,365.90 644,918.51 0.00
Maturity 04/30/2018 713448CR7 1,430,000.00 PepsiCo Inc Note
1.25% Due 4/30/2018
100.000 1,430,000.00 0.00 1,430,000.00 0.00
Subtotal 1,430,000.00 1,430,000.00 0.00 1,430,000.00 0.00
Security
Withdrawal
04/09/2018 90CAMP$00 4,000,000.00 Public Financial Management CAMP 1.000 4,000,000.00 0.00 4,000,000.00 0.00
Security
Withdrawal
04/25/2018 31846V203 104.17 First American Govt Obligation Fund 1.000 104.17 0.00 104.17 0.00
Subtotal 4,000,104.17 4,000,104.17 0.00 4,000,104.17 0.00
TOTAL DISPOSITIONS 10,762,396.25 10,752,210.70 13,861.14 10,766,071.84 -10,251.97
OTHER TRANSACTIONS
Interest 04/02/2018 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 04/05/2018 3135G0T45 3,250,000.00 FNMA Note
1.875% Due 4/5/2022
0.000 30,468.75 0.00 30,468.75 0.00
Interest 04/07/2018 3135G0Q89 2,000,000.00 FNMA Note
1.375% Due 10/7/2021
0.000 13,750.00 0.00 13,750.00 0.00
Interest 04/08/2018 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
Execution Time: 5/3/2018 6:15:35 AMChandler Asset Management - CONFIDENTIAL Page 10
ATTACHMENT 2
Transaction Ledger
3/31/18 Thru 4/30/18
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 04/22/2018 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 04/30/2018 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 04/30/2018 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 04/30/2018 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
Interest 04/30/2018 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
Interest 04/30/2018 912828M49 1,000,000.00 US Treasury Note
1.875% Due 10/31/2022
0.000 9,375.00 0.00 9,375.00 0.00
Interest 04/30/2018 912828WZ9 2,750,000.00 US Treasury Note
1.75% Due 4/30/2022
0.000 24,062.50 0.00 24,062.50 0.00
Subtotal 24,160,000.00 195,177.50 0.00 195,177.50 0.00
Dividend 04/02/2018 31846V203 3,187,034.07 First American Govt Obligation Fund 0.000 3,942.56 0.00 3,942.56 0.00
Dividend 04/15/2018 90LAIF$00 3,634,470,596.2
4
Local Agency Investment Fund State Pool 0.000 150,319.97 0.00 150,319.97 0.00
Dividend 04/30/2018 90CAMP$00 60,343,663.13 Public Financial Management CAMP 0.000 83,099.50 0.00 83,099.50 0.00
Subtotal 3,698,001,293.4
4
237,362.03 0.00 237,362.03 0.00
TOTAL OTHER TRANSACTIONS 3,722,161,293.4
4
432,539.53 0.00 432,539.53 0.00
Execution Time: 5/3/2018 6:15:35 AMChandler Asset Management - CONFIDENTIAL Page 11
ATTACHMENT 2
Transaction Ledger
4/30/18 Thru 5/31/18
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 05/01/2018 31846V203 3,071.23 First American Govt Obligation Fund 1.000 1.27 %3,071.23 0.00 3,071.23 0.00
Purchase 05/03/2018 31846V203 31,750.00 First American Govt Obligation Fund 1.000 1.27 %31,750.00 0.00 31,750.00 0.00
Purchase 05/03/2018 31846V203 1,750,000.00 First American Govt Obligation Fund 1.000 1.27 %1,750,000.00 0.00 1,750,000.00 0.00
Purchase 05/11/2018 369550BE7 1,130,000.00 General Dynamics Corp Note
3% Due 5/11/2021
99.305 3.24 %1,122,146.50 0.00 1,122,146.50 0.00
Purchase 05/13/2018 31846V203 11,940.97 First American Govt Obligation Fund 1.000 1.27 %11,940.97 0.00 11,940.97 0.00
Purchase 05/15/2018 31846V203 52,561.70 First American Govt Obligation Fund 1.000 1.27 %52,561.70 0.00 52,561.70 0.00
Purchase 05/15/2018 31846V203 72,371.30 First American Govt Obligation Fund 1.000 1.27 %72,371.30 0.00 72,371.30 0.00
Purchase 05/15/2018 31846V203 57,436.25 First American Govt Obligation Fund 1.000 1.27 %57,436.25 0.00 57,436.25 0.00
Purchase 05/15/2018 31846V203 485.33 First American Govt Obligation Fund 1.000 1.27 %485.33 0.00 485.33 0.00
Purchase 05/15/2018 31846V203 1,141.58 First American Govt Obligation Fund 1.000 1.27 %1,141.58 0.00 1,141.58 0.00
Purchase 05/15/2018 31846V203 80,954.64 First American Govt Obligation Fund 1.000 1.27 %80,954.64 0.00 80,954.64 0.00
Purchase 05/15/2018 31846V203 47,018.48 First American Govt Obligation Fund 1.000 1.27 %47,018.48 0.00 47,018.48 0.00
Purchase 05/15/2018 31846V203 60,214.44 First American Govt Obligation Fund 1.000 1.27 %60,214.44 0.00 60,214.44 0.00
Purchase 05/15/2018 31846V203 82,450.91 First American Govt Obligation Fund 1.000 1.27 %82,450.91 0.00 82,450.91 0.00
Purchase 05/15/2018 31846V203 3,456.25 First American Govt Obligation Fund 1.000 1.27 %3,456.25 0.00 3,456.25 0.00
Purchase 05/16/2018 31846V203 10,500.00 First American Govt Obligation Fund 1.000 1.27 %10,500.00 0.00 10,500.00 0.00
Purchase 05/17/2018 31846V203 22,750.00 First American Govt Obligation Fund 1.000 1.27 %22,750.00 0.00 22,750.00 0.00
Purchase 05/18/2018 31846V203 41,549.93 First American Govt Obligation Fund 1.000 1.27 %41,549.93 0.00 41,549.93 0.00
Purchase 05/19/2018 31846V203 17,550.00 First American Govt Obligation Fund 1.000 1.27 %17,550.00 0.00 17,550.00 0.00
Purchase 05/20/2018 31846V203 22,500.00 First American Govt Obligation Fund 1.000 1.27 %22,500.00 0.00 22,500.00 0.00
Purchase 05/21/2018 31846V203 134.01 First American Govt Obligation Fund 1.000 1.27 %134.01 0.00 134.01 0.00
Purchase 05/21/2018 31846V203 65,499.87 First American Govt Obligation Fund 1.000 1.27 %65,499.87 0.00 65,499.87 0.00
Purchase 05/30/2018 31846V203 27,500.00 First American Govt Obligation Fund 1.000 1.27 %27,500.00 0.00 27,500.00 0.00
Purchase 05/30/2018 43814UAG4 610,000.00 Honda Auto Receivables 2018-2 A3
3.01% Due 5/18/2022
99.998 3.03 %609,986.70 0.00 609,986.70 0.00
Purchase 05/31/2018 31846V203 72,500.00 First American Govt Obligation Fund 1.000 1.32 %72,500.00 0.00 72,500.00 0.00
Purchase 05/31/2018 90CAMP$00 93,388.96 California Asset Mgmt Program CAMP 1.000 1.96 %93,388.96 0.00 93,388.96 0.00
Purchase 05/31/2018 912828R69 1,500,000.00 US Treasury Note
1.625% Due 5/31/2023
95.145 2.67 %1,427,167.97 0.00 1,427,167.97 0.00
Subtotal 5,868,725.85 5,788,027.02 0.00 5,788,027.02 0.00
Execution Time: 6/26/2018 11:46:02 AMChandler Asset Management - CONFIDENTIAL Page 8
ATTACHMENT 2
Transaction Ledger
4/30/18 Thru 5/31/18
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
05/25/2018 90CAMP$00 2,000,000.00 California Asset Mgmt Program CAMP 1.000 2,000,000.00 0.00 2,000,000.00 0.00
Subtotal 2,000,000.00 2,000,000.00 0.00 2,000,000.00 0.00
TOTAL ACQUISITIONS 7,868,725.85 7,788,027.02 0.00 7,788,027.02 0.00
DISPOSITIONS
Sale 05/11/2018 31846V203 1,122,146.50 First American Govt Obligation Fund 1.000 1.27 %1,122,146.50 0.00 1,122,146.50 0.00
Sale 05/30/2018 31846V203 609,986.70 First American Govt Obligation Fund 1.000 1.27 %609,986.70 0.00 609,986.70 0.00
Sale 05/31/2018 31846V203 1,427,167.97 First American Govt Obligation Fund 1.000 1.32 %1,427,167.97 0.00 1,427,167.97 0.00
Subtotal 3,159,301.17 3,159,301.17 0.00 3,159,301.17 0.00
Paydown 05/15/2018 43814QAC2 51,915.56 Honda Auto Receivables 2016-2 A3
1.39% Due 4/15/2020
100.000 51,915.56 646.14 52,561.70 0.00
Paydown 05/15/2018 47787XAB3 71,905.01 John Deere Owner Trust 2017-A A2
1.5% Due 10/15/2019
100.000 71,905.01 466.29 72,371.30 0.00
Paydown 05/15/2018 47788BAB0 56,942.08 John Deere Owner Trust 2017-B A2A
1.59% Due 4/15/2020
100.000 56,942.08 494.17 57,436.25 0.00
Paydown 05/15/2018 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 05/15/2018 47788CAC6 0.00 John Deere Owner Trust 2016-B A4
2.66% Due 4/18/2022
100.000 0.00 1,141.58 1,141.58 0.00
Paydown 05/15/2018 47788MAC4 80,179.13 John Deere Owner Trust 2016-A A3
1.36% Due 4/15/2020
100.000 80,179.13 775.51 80,954.64 0.00
Paydown 05/15/2018 654747AB0 46,547.12 Nissan Auto Receivables 2017-A A2A
1.47% Due 1/15/2020
100.000 46,547.12 471.36 47,018.48 0.00
Paydown 05/15/2018 65478WAB1 60,153.16 Nissan Auto Receivables Owner 2016-C
A2A
1.07% Due 5/15/2019
100.000 60,153.16 61.28 60,214.44 0.00
Paydown 05/15/2018 89231LAB3 82,276.99 Toyota Auto Receivables Owner 2016-D
1.06% Due 5/15/2019
100.000 82,276.99 173.92 82,450.91 0.00
Paydown 05/15/2018 89238BAB8 0.00 Toyota Auto Receivables Owner 2018-A
A2A
2.1% Due 10/15/2020
100.000 0.00 3,456.25 3,456.25 0.00
Execution Time: 6/26/2018 11:46:02 AMChandler Asset Management - CONFIDENTIAL Page 9
ATTACHMENT 2
Transaction Ledger
4/30/18 Thru 5/31/18
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 05/18/2018 43814PAB6 40,976.61 Honda Auto Receivables Owner T 17-3 A2
1.57% Due 1/21/2020
100.000 40,976.61 573.32 41,549.93 0.00
Paydown 05/21/2018 43813NAC0 133.89 Honda Auto Receivables 2015-2 A3
1.04% Due 2/21/2019
100.000 133.89 0.12 134.01 0.00
Paydown 05/21/2018 43814TAB8 65,135.98 Honda Auto Receivables 2017-1 A2
1.42% Due 7/22/2019
100.000 65,135.98 363.89 65,499.87 0.00
Subtotal 556,165.53 556,165.53 9,109.16 565,274.69 0.00
Maturity 05/03/2018 037833AJ9 1,750,000.00 Apple Inc Note
1% Due 5/3/2018
100.000 1,750,000.00 0.00 1,750,000.00 0.00
Subtotal 1,750,000.00 1,750,000.00 0.00 1,750,000.00 0.00
Security
Withdrawal
05/04/2018 90CAMP$00 2,000,000.00 California Asset Mgmt Program CAMP 1.000 2,000,000.00 0.00 2,000,000.00 0.00
Security
Withdrawal
05/14/2018 90CAMP$00 2,500,000.00 California Asset Mgmt Program CAMP 1.000 2,500,000.00 0.00 2,500,000.00 0.00
Security
Withdrawal
05/18/2018 90CAMP$00 3,000,000.00 California Asset Mgmt Program CAMP 1.000 3,000,000.00 0.00 3,000,000.00 0.00
Security
Withdrawal
05/25/2018 31846V203 104.17 First American Govt Obligation Fund 1.000 104.17 0.00 104.17 0.00
Subtotal 7,500,104.17 7,500,104.17 0.00 7,500,104.17 0.00
TOTAL DISPOSITIONS 12,965,570.87 12,965,570.87 9,109.16 12,974,680.03 0.00
OTHER TRANSACTIONS
Interest 05/03/2018 00440EAT4 2,000,000.00 Chubb INA Holdings Inc Callable Note Cont
10/3/2020
2.3% Due 11/3/2020
0.000 23,000.00 0.00 23,000.00 0.00
Interest 05/03/2018 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 05/13/2018 40428HPN6 1,000,000.00 HSBC USA Inc Note
2.375% Due 11/13/2019
0.000 11,940.97 0.00 11,940.97 0.00
Interest 05/16/2018 166764BG4 1,000,000.00 Chevron Corp Callable Note Cont 4/15/2021
2.1% Due 5/16/2021
0.000 10,500.00 0.00 10,500.00 0.00
Interest 05/17/2018 3137EAEK1 2,400,000.00 FHLMC Note
1.875% Due 11/17/2020
0.000 22,750.00 0.00 22,750.00 0.00
Interest 05/19/2018 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
Execution Time: 6/26/2018 11:46:02 AMChandler Asset Management - CONFIDENTIAL Page 10
ATTACHMENT 2
Transaction Ledger
4/30/18 Thru 5/31/18
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 05/20/2018 747525AD5 2,000,000.00 Qualcomm Inc Note
2.25% Due 5/20/2020
0.000 22,500.00 0.00 22,500.00 0.00
Interest 05/30/2018 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 05/30/2018 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 05/31/2018 912828G61 2,000,000.00 US Treasury Note
1.5% Due 11/30/2019
0.000 15,000.00 0.00 15,000.00 0.00
Interest 05/31/2018 912828U65 2,500,000.00 US Treasury Note
1.75% Due 11/30/2021
0.000 21,875.00 0.00 21,875.00 0.00
Interest 05/31/2018 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
Interest 05/31/2018 912828XR6 1,500,000.00 US Treasury Note
1.75% Due 5/31/2022
0.000 13,125.00 0.00 13,125.00 0.00
Subtotal 24,450,000.00 216,990.97 0.00 216,990.97 0.00
Dividend 05/01/2018 31846V203 2,497,604.00 First American Govt Obligation Fund 0.000 3,071.23 0.00 3,071.23 0.00
Dividend 05/31/2018 90CAMP$00 54,926,762.63 California Asset Mgmt Program CAMP 0.000 93,388.96 0.00 93,388.96 0.00
Subtotal 57,424,366.63 96,460.19 0.00 96,460.19 0.00
TOTAL OTHER TRANSACTIONS 81,874,366.63 313,451.16 0.00 313,451.16 0.00
Execution Time: 6/26/2018 11:46:02 AMChandler Asset Management - CONFIDENTIAL Page 11
ATTACHMENT 2
Transaction Ledger
5/31/18 Thru 6/30/18
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 06/01/2018 31846V203 4,056.93 First American Govt Obligation Fund 1.000 1.32 %4,056.93 0.00 4,056.93 0.00
Purchase 06/08/2018 69353RFL7 930,000.00 PNC Bank Callable Note Cont 5/9/2023
3.5% Due 6/8/2023
99.886 3.53 %928,939.80 0.00 928,939.80 0.00
Purchase 06/11/2018 31846V203 28,125.00 First American Govt Obligation Fund 1.000 1.32 %28,125.00 0.00 28,125.00 0.00
Purchase 06/12/2018 31846V203 497,530.58 First American Govt Obligation Fund 1.000 1.32 %497,530.58 0.00 497,530.58 0.00
Purchase 06/12/2018 31846V203 17,500.00 First American Govt Obligation Fund 1.000 1.32 %17,500.00 0.00 17,500.00 0.00
Purchase 06/13/2018 31846V203 3,145,000.00 First American Govt Obligation Fund 1.000 1.32 %3,145,000.00 0.00 3,145,000.00 0.00
Purchase 06/13/2018 69353RFL7 1,280,000.00 PNC Bank Callable Note Cont 5/9/2023
3.5% Due 6/8/2023
99.845 3.53 %1,278,016.00 622.22 1,278,638.22 0.00
Purchase 06/14/2018 31846V203 14,062.50 First American Govt Obligation Fund 1.000 1.32 %14,062.50 0.00 14,062.50 0.00
Purchase 06/15/2018 31846V203 50,515.24 First American Govt Obligation Fund 1.000 1.32 %50,515.24 0.00 50,515.24 0.00
Purchase 06/15/2018 31846V203 52,454.60 First American Govt Obligation Fund 1.000 1.32 %52,454.60 0.00 52,454.60 0.00
Purchase 06/15/2018 31846V203 30,565.18 First American Govt Obligation Fund 1.000 1.32 %30,565.18 0.00 30,565.18 0.00
Purchase 06/15/2018 31846V203 485.33 First American Govt Obligation Fund 1.000 1.32 %485.33 0.00 485.33 0.00
Purchase 06/15/2018 31846V203 1,141.58 First American Govt Obligation Fund 1.000 1.32 %1,141.58 0.00 1,141.58 0.00
Purchase 06/15/2018 31846V203 54,640.86 First American Govt Obligation Fund 1.000 1.32 %54,640.86 0.00 54,640.86 0.00
Purchase 06/15/2018 31846V203 46,677.55 First American Govt Obligation Fund 1.000 1.32 %46,677.55 0.00 46,677.55 0.00
Purchase 06/15/2018 31846V203 8,584.39 First American Govt Obligation Fund 1.000 1.32 %8,584.39 0.00 8,584.39 0.00
Purchase 06/15/2018 31846V203 79,295.78 First American Govt Obligation Fund 1.000 1.32 %79,295.78 0.00 79,295.78 0.00
Purchase 06/15/2018 31846V203 3,456.25 First American Govt Obligation Fund 1.000 1.32 %3,456.25 0.00 3,456.25 0.00
Purchase 06/18/2018 31846V203 41,228.26 First American Govt Obligation Fund 1.000 1.32 %41,228.26 0.00 41,228.26 0.00
Purchase 06/18/2018 31846V203 918.05 First American Govt Obligation Fund 1.000 1.32 %918.05 0.00 918.05 0.00
Purchase 06/21/2018 31846V203 64,141.87 First American Govt Obligation Fund 1.000 1.32 %64,141.87 0.00 64,141.87 0.00
Purchase 06/24/2018 31846V203 15,032.50 First American Govt Obligation Fund 1.000 1.32 %15,032.50 0.00 15,032.50 0.00
Purchase 06/24/2018 31846V203 1,750,000.00 First American Govt Obligation Fund 1.000 1.32 %1,750,000.00 0.00 1,750,000.00 0.00
Purchase 06/27/2018 931142EK5 685,000.00 Wal-Mart Stores Callable Note Cont
5/26/2023
3.4% Due 6/26/2023
99.973 3.41 %684,815.05 0.00 684,815.05 0.00
Purchase 06/27/2018 931142EK5 695,000.00 Wal-Mart Stores Callable Note Cont
5/26/2023
3.4% Due 6/26/2023
99.975 3.41 %694,826.25 0.00 694,826.25 0.00
Purchase 06/29/2018 02582JHE3 1,000,000.00 American Express Credit 2017-3 A
1.77% Due 11/15/2022
98.063 2.69 %980,625.00 688.33 981,313.33 0.00
Execution Time: 7/10/2018 12:29:22 PMChandler Asset Management - CONFIDENTIAL Page 8
ATTACHMENT 2
Transaction Ledger
5/31/18 Thru 6/30/18
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 06/29/2018 68389XBK0 1,000,000.00 Oracle Corp Callable Note Cont 8/01/21
1.9% Due 9/15/2021
96.408 3.08 %964,080.00 5,488.89 969,568.89 0.00
Purchase 06/30/2018 31846V203 50,625.00 First American Govt Obligation Fund 1.000 1.50 %50,625.00 0.00 50,625.00 0.00
Purchase 06/30/2018 90CAMP$00 91,255.87 California Asset Mgmt Program CAMP 1.000 1.96 %91,255.87 0.00 91,255.87 0.00
Subtotal 11,637,293.32 11,578,595.42 6,799.44 11,585,394.86 0.00
Security
Contribution
06/26/2018 90CAMP$00 2,000,000.00 California Asset Mgmt Program CAMP 1.000 2,000,000.00 0.00 2,000,000.00 0.00
Subtotal 2,000,000.00 2,000,000.00 0.00 2,000,000.00 0.00
TOTAL ACQUISITIONS 13,637,293.32 13,578,595.42 6,799.44 13,585,394.86 0.00
DISPOSITIONS
Sale 06/08/2018 31846V203 928,939.80 First American Govt Obligation Fund 1.000 1.32 %928,939.80 0.00 928,939.80 0.00
Sale 06/12/2018 912828D80 500,000.00 US Treasury Note
1.625% Due 8/31/2019
99.047 2.42 %495,234.38 2,296.20 497,530.58 -3,857.33
Sale 06/13/2018 31846V203 1,278,638.22 First American Govt Obligation Fund 1.000 1.32 %1,278,638.22 0.00 1,278,638.22 0.00
Sale 06/27/2018 31846V203 684,815.05 First American Govt Obligation Fund 1.000 1.32 %684,815.05 0.00 684,815.05 0.00
Sale 06/27/2018 31846V203 694,826.25 First American Govt Obligation Fund 1.000 1.32 %694,826.25 0.00 694,826.25 0.00
Sale 06/29/2018 31846V203 1,950,882.22 First American Govt Obligation Fund 1.000 1.50 %1,950,882.22 0.00 1,950,882.22 0.00
Subtotal 6,038,101.54 6,033,335.92 2,296.20 6,035,632.12 -3,857.33
Paydown 06/15/2018 43814QAC2 49,929.24 Honda Auto Receivables 2016-2 A3
1.39% Due 4/15/2020
100.000 49,929.24 586.00 50,515.24 0.00
Paydown 06/15/2018 47787XAB3 52,078.19 John Deere Owner Trust 2017-A A2
1.5% Due 10/15/2019
100.000 52,078.19 376.41 52,454.60 0.00
Paydown 06/15/2018 47788BAB0 30,146.46 John Deere Owner Trust 2017-B A2A
1.59% Due 4/15/2020
100.000 30,146.46 418.72 30,565.18 0.00
Paydown 06/15/2018 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 06/15/2018 47788CAC6 0.00 John Deere Owner Trust 2016-B A4
2.66% Due 4/18/2022
100.000 0.00 1,141.58 1,141.58 0.00
Paydown 06/15/2018 47788MAC4 53,956.22 John Deere Owner Trust 2016-A A3
1.36% Due 4/15/2020
100.000 53,956.22 684.64 54,640.86 0.00
Paydown 06/15/2018 654747AB0 46,263.21 Nissan Auto Receivables 2017-A A2A
1.47% Due 1/15/2020
100.000 46,263.21 414.34 46,677.55 0.00
Execution Time: 7/10/2018 12:29:22 PMChandler Asset Management - CONFIDENTIAL Page 9
ATTACHMENT 2
Transaction Ledger
5/31/18 Thru 6/30/18
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 06/15/2018 65478WAB1 8,576.74 Nissan Auto Receivables Owner 2016-C
A2A
1.07% Due 5/15/2019
100.000 8,576.74 7.65 8,584.39 0.00
Paydown 06/15/2018 89231LAB3 79,194.53 Toyota Auto Receivables Owner 2016-D
1.06% Due 5/15/2019
100.000 79,194.53 101.25 79,295.78 0.00
Paydown 06/15/2018 89238BAB8 0.00 Toyota Auto Receivables Owner 2018-A
A2A
2.1% Due 10/15/2020
100.000 0.00 3,456.25 3,456.25 0.00
Paydown 06/18/2018 43814PAB6 40,708.56 Honda Auto Receivables Owner T 17-3 A2
1.57% Due 1/21/2020
100.000 40,708.56 519.70 41,228.26 0.00
Paydown 06/18/2018 43814UAG4 0.00 Honda Auto Receivables 2018-2 A3
3.01% Due 5/18/2022
100.000 0.00 918.05 918.05 0.00
Paydown 06/21/2018 43814TAB8 63,855.05 Honda Auto Receivables 2017-1 A2
1.42% Due 7/22/2019
100.000 63,855.05 286.82 64,141.87 0.00
Subtotal 424,708.20 424,708.20 9,396.74 434,104.94 0.00
Maturity 06/13/2018 06538CFD8 3,145,000.00 Bank of Tokyo Mitsubishi NY Discount CP
2.1% Due 6/13/2018
99.463 3,145,000.00 0.00 3,145,000.00 0.00
Maturity 06/24/2018 166764AE0 1,750,000.00 Chevron Corp Callable Note Cont 5/24/2018
1.718% Due 6/24/2018
100.000 1,750,000.00 0.00 1,750,000.00 0.00
Subtotal 4,895,000.00 4,895,000.00 0.00 4,895,000.00 0.00
Security
Withdrawal
06/08/2018 90CAMP$00 1,500,000.00 California Asset Mgmt Program CAMP 1.000 1,500,000.00 0.00 1,500,000.00 0.00
Security
Withdrawal
06/25/2018 31846V203 104.17 First American Govt Obligation Fund 1.000 104.17 0.00 104.17 0.00
Subtotal 1,500,104.17 1,500,104.17 0.00 1,500,104.17 0.00
TOTAL DISPOSITIONS 12,857,913.91 12,853,148.29 11,692.94 12,864,841.23 -3,857.33
OTHER TRANSACTIONS
Interest 06/11/2018 313379RB7 3,000,000.00 FHLB Note
1.875% Due 6/11/2021
0.000 28,125.00 0.00 28,125.00 0.00
Interest 06/12/2018 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 06/14/2018 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 06/24/2018 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: 7/10/2018 12:29:22 PMChandler Asset Management - CONFIDENTIAL Page 10
ATTACHMENT 2
Transaction Ledger
5/31/18 Thru 6/30/18
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 06/30/2018 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
Interest 06/30/2018 912828XW5 3,000,000.00 US Treasury Note
1.75% Due 6/30/2022
0.000 26,250.00 0.00 26,250.00 0.00
Subtotal 15,250,000.00 125,345.00 0.00 125,345.00 0.00
Dividend 06/01/2018 31846V203 1,873,535.55 First American Govt Obligation Fund 0.000 4,056.93 0.00 4,056.93 0.00
Dividend 06/30/2018 90CAMP$00 55,520,151.59 California Asset Mgmt Program CAMP 0.000 91,255.87 0.00 91,255.87 0.00
Subtotal 57,393,687.14 95,312.80 0.00 95,312.80 0.00
TOTAL OTHER TRANSACTIONS 72,643,687.14 220,657.80 0.00 220,657.80 0.00
Execution Time: 7/10/2018 12:29:22 PMChandler Asset Management - CONFIDENTIAL Page 11
ATTACHMENT 2