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Home My WebLink About4.4 City Treasurer’s Informational Report of Investments for the Quarter Ending December 31, 2020 (2)STAFF REPORT CITY COUNCIL Page 1 of 4 Agenda Item 4.4 DATE:February 16, 2021 TO:Honorable Mayor and City Councilmembers FROM:Linda Smith, City Manager SUBJECT:City Treasurer's Informational Report of Investments for the Quarter Ending December 31, 2020 Prepared by: Chris Rhoades, Financial Analyst EXECUTIVE SUMMARY: The City Council will receive an informational report of the City’s investments through the quarter ending December 31, 2020 including a monthly transaction ledger. The City’s investment portfolio for this period totaled $327,123,861 (market value) with an average market yield of 0.28%. 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 City Treasurer's Informational Report of Investments for the Quarter Ending December 31, 2020. FINANCIAL IMPACT: There is no financial impact resulting from this report. Investments are made in accordance with the City Investment Policy and State Law. Interest earned is apportioned between funds (i.e., General Fund, Gas Tax Fund, etc.) based upon their proportionate share of the total cash balance. Based on the financial needs of the City including the timing of revenues and expenditures, the quarterly cash balance can vary from quarter to quarter. DESCRIPTION: The total investment portfolio (market value) consists of $217,255,770 managed by Chandler Asset Management (Chandler), and $109,868,091 invested by the City in local government pools. The average market yield of the Chandler portfolio and the local pools was 0.27% and 0.30% respectively. The total investment portfolio balance fluctuates throughout the year due to normal cash flow needs and includes both discretionary and restricted funds. 42 Page 2 of 4 Economic Update Highlights The following are some highlights from the Economic Update included in the attached Investment Report prepared by Chandler (Attachment 1). Recent economic data suggests that the economy has lost momentum as the number of virus cases has risen. Chandler believes the near-term outlook remains challenging as the labor market remains under pressure and many regions have continued business restrictions due to the virus. However, the passage of a new $900 billion COVID-19 fiscal relief bill should help cushion the economy over the next few months, and Chandler believes the new Presidential administration will have a keen focus on getting the economy back on track. Chandler also remains very optimistic about progress on vaccines and therapeutics, which could help fuel the economic recovery later this year. Chandler also expects the Fed’s highly accommodative monetary policy framework will continue to provide support for the financial markets. City of Dublin Portfolio The City's aggregate portfolio has maintained a healthy balance of investment types with minimal change from the prior quarter as shown below in Chart 1. Chart 1: Investments by Type September 30, 2020 and December 31, 2020 The market value of the City's portfolio increased by $22.3 million from the September 30, 2020 quarter. The quarterly increase was due to normal fluctuations in the timing of incoming revenue, predominantly the receipt of property tax allocations and sales tax revenue. The City’s portfolio increased $26.6 million from the same quarter the prior year due to the excess of revenues over expenditures trending on an annual basis (see Table 1 below). Overall market yield-to-maturity decreased from 0.34% to 0.28% (shown in Table 2) due to the factors discussed in the Economic Update Highlights. For detailed monthly transactions, see Attachment 2. It should be noted that the City is no longer required to differentiate between foreign and United States (US) based corporations for reporting purposes. 43 Page 3 of 4 Table 1: Portfolio Values and Yield to Maturity Table 2: Quarterly Holdings (Market 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 typically holds $50.0 million in LAIF (the maximum allowable), with the balance of liquid funds invested with CAMP. December 31, 2019 September 30, 2020 Holdings Market Value Market Value Par Value Book Value Market Value % of Subtotal % of Total Portfolio Book Yield Market Yield Managed by City LAIF 49,367,486 50,069,345 50,189,403 50,189,403 50,189,403 45.7%15.8%0.52%0.52% CAMP 42,618,198 37,890,432 59,605,094 59,605,094 59,605,094 54.3%18.7%0.12%0.12% SUBTOTAL 91,985,684 87,959,776.47 109,794,497 109,794,497 109,794,497 100.00%34.52%0.30%0.30% Accrued Interest 263,314 100,879.68 73,594 92,248,998 88,060,656.15 109,868,091 Managed by Chandler ABS 15,224,454 10,967,071 8,563,200 8,578,796 8,651,697 4.0%2.7%1.78%0.30% Agency 67,108,075 86,962,937 85,040,000 85,455,777 88,099,396 40.7%26.7%1.61%0.23% Commercial Paper1 4,115,091 - - - - 0.0%0.0%0.00%0.00% Foreign Corporate2 6,463,483 - - - - 0.0%0.0%0.00%0.00% Money Market 337,867 287,330 1,494,033 1,494,033 1,494,033 0.7%0.5%0.01%0.01% Supranational 4,520,176 6,901,940 9,160,000 9,130,259 9,291,429 4.3%2.9%1.38%0.31% Corporate 43,978,777 48,948,015 46,535,000 46,916,144 49,090,006 22.7%14.6%2.50%0.43% US Treasury 65,485,135 61,909,753 57,500,000 57,511,184 59,632,976 27.6%18.1%1.77%0.18% SUBTOTAL 207,233,057 215,977,047 208,292,234 209,086,194 216,259,536 100.00%65.48%1.84%0.27% Accrued Interest 996,435 822,822 996,234 208,229,491 216,799,869 217,255,770 TOTAL PORTFOLIO 300,478,490 304,860,526 318,086,730 318,880,691 327,123,861 100.00%0.28% 26,645,371 1Commercial Paper reached maturity in April 2020 22,263,335 2Reported in Corporate category, as of March 2020 December 31, 2020 Change from Prior Year Change from Prior Quarter Holdings (Market Value)12/31/19 3/31/20 6/30/20 9/30/20 12/31/20 LAIF/CAMP 91,985,684 86,625,886 102,457,734 87,959,776 109,794,497 ABS 15,224,454 13,963,788 10,752,557 10,967,071 8,651,697 Agency 67,108,075 73,363,097 78,621,769 86,962,937 88,099,396 Commercial Paper 4,115,091 4,134,975 - - - Foreign Corporate 6,463,483 - - - - Money Market 337,867 1,416,205 2,018,086 287,330 1,494,033 Negotiable CD - - - - - Supranational 4,520,176 4,626,095 6,913,320 6,901,940 9,291,429 Corporate 43,978,777 49,536,671 51,557,374 48,948,015 49,090,006 US Treasury 65,485,135 65,660,509 65,288,940 61,909,753 59,632,976 Accrued Interest 1,259,749 1,091,397 1,203,899 923,702 1,069,828 TOTAL 300,478,490 300,418,622 318,813,679 304,860,526 327,123,861 YIELD TO MATURITY 1.80%1.11%0.50%0.34%0.28% 44 Page 4 of 4 STRATEGIC PLAN INITIATIVE: Strategy 2, Objective D: Continue to maintain strong fiscal policies. NOTICING REQUIREMENTS/PUBLIC OUTREACH: The City Council Agenda was posted. ATTACHMENTS: 1) City of Dublin Investment Report for Period Ending December 31, 2020 2) Transaction Ledger - October through December 2020 45 CHANDLER ASSET MANAGEMENT, INC. | 800.317.4747 | www.chandlerasset.com INVESTMENT REPORT Period Ending December 31, 2020 City of Dublin Attachment 1 46 SECTION 1 Economic Update SECTION 2 Account Profile SECTION 3 Consolidated Information SECTION 4 Portfolio Holdings SECTION 5 Transactions Table of Contents As of December 31, 2020 1 47 SECTION |Section 1 |Economic Update 2 48 Economic Update    Recent economic d ata suggests that the economy has lost momentum as virus cases have risen.We anticipated that economic data would soften during the winter months,and believe the near-term outlook remains challenging as the labor market remains under pressure and many regions have renewed business restrictions due to the virus.However,the passage of a new $900 billion COVID-19 fiscal relief bill should help cushion the economy over the next few months,and we believe the incoming Presidential administration will have a keen focus on getting the economy back on track. We also remain very optimistic about progress on vaccines.A limited number of vaccine doses have already been distributed,and we expect more widespread distribution in the second and third quarter of 2021.We believe the distribution of vaccines and therapeutics will help fuel the economic recovery later this year.We also expect the Fed’s highly accommodative monetary policy framework will continue to provide support for the financial markets. The Federal Open Market Committee (FOMC)kept monetary policy unchanged at their December meeting as expected, with the fed funds target rate in a range of 0.0%to 0.25%.The Fed intends to remain highly accommodative until their goals of maximum employment and higher inflation are achieved.The Fed’s summary of economic projections continues to signal that the target fed funds rate will remain unchanged until at least 2023,as policymakers do not expect inflation to exceed 2.0%during that timeframe.Until the Fed has made substantial progress toward achieving their dual mandate of maximum employment and price stability,they have set a floor for monthly asset purchases of at least $80 billion per month of Treasuries and $40 billion per month of agency mortgage-backed securities.Notably,the Fed's outlook for GDP over the next few years was revised higher and the outlook for unemployment was revised lower compared with their previous forecasts in September,which suggests increased optimism.Nevertheless,the outlook remains uncertain and Fed Chair Powell indicated that the Fed would increase policy accommodation further if progress toward their dual mandate slows. In 2020,the yield on 2-year Treasuries was down 145 basis points to 0.12%and the yield on 10-year Treasuries was down about 100 basis points to 0.91%.The yield curve steepened modestly in December and month-to-date the yield curve has continued to steepen, likely due in part to favorable developments on the vaccine front. Month-to-date, the yield on 2-year Treasuries is little changed but the yield on 10-year Treasuries is up about 20 basis points.We believe the Treasury yield curve is poised to steepen modestly further in 2021 as the economy reopens,driven by an increase in longer-term rates as the front end of the curve is likely to remain anchored near 0.0%. 3 49 Source: US Department of Labor Source: US Department of Labor Employment U.S.nonfarm payrolls declined by 140,000 in December.It was the first monthly decline in nonfarm payrolls since April of last yearand came in well below expectations for a 50,000 gain.The monthly decline was led by the leisure and hospitality sector which experienced a 498,000 net decline in payrolls in December,along with modest declines in government jobs and education and health services.The unemployment rate was unchanged in December at 6.7%and has improved significantly from the peak of 14.8%last April.Nevertheless,more than 10.7 million people remain unemployed.Workers who classified themselves as employed butabsent from work in December continued to understate the unemployment rate by about 0.6%.The U-6 underemployment rate,which includes those who are marginally attached to the labor force and employed part time foreconomic reasons,remained high butdeclined to 11.7%in December from 12.0%in November.The labor participation rate was unchanged at 61.5% in December and remains well below pre-pandemic levels. -22,000 -18,000 -14,000 -10,000 -6,000 -2,000 2,000 6,000 10,000 MOM Change In (000's)Nonfarm Payroll (000's) Non-farm Payroll (000's) 3 month average (000's) 0.0% 4.0% 8.0% 12.0% 16.0% 20.0% 24.0% 28.0% Unemployment Rate Underemployment Rate (U6) Unemployment Rate (U3)Rate (%)4 50 Initial Claims for Unemployment 787 790 806 892 862 716 787 748 711 757 758 797 842 767 5,072 5,198 5,322 5,507 5,781 5,527 6,089 6,370 6,798 7,222 7,823 8,472 9,398 - 5,000 10,000 15,000 20,000 25,000 In thousandsInitial Jobless Claims Continuing Claims Initial Claims For Unemployment October 02, 2020 -January 01, 2021 In the most recent week,the number of initial jobless claims decreased to 787,000 compared to 790,000 in the prior week.The level of continuing unemployment claims (where the data is lagged by one week) decreased to about 5.1 million from roughly 5.2 millionin the prior week.Although jobless claims have declined from the early stage of the pandemic,they have remained well above the 2019 average of 1.7 million.Given the resurgence of the virus and renewed lockdown measures,we believe the labor market is likely to remain under pressure over the near term. Source: US Department of Labor 5 51 Source: US Department of Labor Source: US Department of Commerce Inflation The Consumer Price Index (CPI) was up 1.2% year-over-year in November, unchanged from October. Core CPI (CPI less food and energy) was up 1.6%year-over-year in November,also unchanged from October.The Personal Consumption Expenditures (PCE)index was up 1.1%year-over- year in November,versus up 1.2%year-over-year in October.Core PCE,which is the Fed's primary inflation gauge,was up 1.4%year-over-year in November, unchanged from October. Inflation remains below the Fed's target. 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% Personal Consumption Expenditures (PCE) PCE Price Deflator YOY % Change PCE Core Deflator YOY % Change YOY( %) Change0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% Consumer Price Index (CPI) CPI YOY % Change Core CPI YOY % ChangeYOY( %) Change6 52 Consumer spending trends softened in November.On a year-over-year basis,retail sales were up 4.1%in November versus 5.5%in October. On a month-over-month basis,retail sales declined 1.1%in November,with broad-based declines in many categories on a seasonally adjusted basis. Excluding vehicles and gas, retail sales fell 0.8% in November, following a 0.1% decline in October. Notably, retail sales makes up roughly one third of the personal consumption expenditures component of US gross domestic product (GDP),while services revenue comprises roughly two thirds. Spending on services has been hit particularly hard by the pandemic and lagged the pick-up in overall third quarter GDP. While retail sales remain higher on a year-over-year basis,we believe this has been partially boosted by the contraction in spending on services.The Consumer Confidence index declined to 88.6 in December from 92.9 in November.The index is well below pre-pandemic levels at the start of this year. Source: US Department of Commerce Source: The Conference Board -25.0% -20.0% -15.0% -10.0% -5.0% 0.0% 5.0% 10.0% Retail Sales YOY % Change YOY (%) Change80 90 100 110 120 130 140 150 Index LevelConsumer Confidence Consumer 7 53 Source: The Conference Board Source: Federal Reserve Bank of Chicago Economic Activity The Conference Board’s Leading Economic Index (LEI)rose 0.6%in November (following a 0.8%increase in October)but remained down 2.2% year-over-year.According to the Conference Board,a decelerating pace of improvement in the LEI in recent months suggests that economic growth has moderated heading into 2021.Furthermore,the Conference Board warns of potential downside risks to economic growth from a second wave of the virus and high unemployment.The Chicago Fed National Activity Index (CFNAI)declined to 0.27 in November from 1.01 in October.On a 3-month moving average basis,the CFNAI declined to 0.56 in November from 0.85 in October.The index slipped on a one month and 3-month basis, but a positive index reading corresponds to above trend growth. -8.00 -6.00 -4.00 -2.00 0.00 2.00 4.00 6.00 Chicago Fed National Activity Index (CFNAI)3 Month Average-8.0% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% Leading Economic Indicators (LEI)MOM ( %) Change8 54 Source: US Department of Commerce Source: S&P Housing 0 200 400 600 800 1000 1200 1400 1600 1800 2000 MOM Change (In Thousands of Units)Housing Starts Multi Family Housing Starts Single Family Housing Starts 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% S&P/Case -Shiller 20 City Composite Home Price Index YOY( %) ChangeTotal housing starts increased 1.2%in November to an annual pace of 1,547,000.Single family starts inched up 0.4%to a very strong annualized rate of 1,186,000,whilemulti-family starts increased 4.0%to an annualized rate of 361,000.On a year-over-year basis,total housing starts were up 12.8%in November,driven by growth insingle-family starts.Meanwhile,permits were up 6.2%on a month-over-month basis in November, to an annualized rate of 1,639,000 (the strongest rate since 2006).According to the Case-Shiller 20-City home price index,home prices were up 7.9%year-over-year in October versus up 6.6%year-over-year in September.The housing market has been an area of strength during the pandemic.Very low mortgage rates,solid stock market performance,and a meaningful shift toward working from home are providing strong tailwinds for the housing sector. 9 55 Source: Institute for Supply Management Source: Federal Reserve Manufacturing The Institute for Suppl y Management (ISM)manufacturing index increased to 60.7 in December from 57.5 in November.Readings above 50.0 are indicative of expansion in the manufacturing sector. We believe a weakening US dollar has been supportive of the US manufacturing sector throughout the pandemic.The Industrial Production index was down 5.5%year-over-year in November,versus down 5.0%in October.On a month-over-month basis,the Industrial Production index increased 0.4%in November,following a 0.9%increase in October.Capacity Utilization increased to 73.3%in November from 73.0%in October,but remains well below the long-run average of 79.8%.Overall manufacturing conditions have improved since the deep contraction in activity earlier this year,but industrial production remains lower on a year-over-year basis. 40 42 44 46 48 50 52 54 56 58 60 62 Institute of Supply Management Purchasing Manager Index EXPANDING CONTRACTING -20.0% -16.0% -12.0% -8.0% -4.0% 0.0% 4.0% 8.0% Industrial Production YOY( %) Change10 56 Source: US Department of Commerce Source: US Department of Commerce 12/19 3/20 6/20 9/20 1.1% -4.8% -24.0% 25.4% -0.6% -1.6% -8.8% 12.0% 1.5% 1.1% 0.6% -3.2% 0.3% 0.1% 1.2% -0.4% 0.2% 0.1% -0.4% -0.4% 2.4% -5.0% -31.4% 33.4% Gross Private Domestic Investment Personal Consumption Expenditures Components of GDP Federal Government Expenditures State and Local (Consumption and Gross Investment) Net Exports and Imports Total -40.0% -30.0% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% Gross Domestic Product (GDP) GDP QOQ % Change GDP YOY % Change Gross Domestic Product (GDP) According to the third estimate,real US gross domestic product (GDP)grew at an annualized rate of 33.4%in the third quarter(up slightly from the advance and second estimates),following a 31.4%annualized decline in the second quarter.Third quarter GDP growth was by far the largest annualized gain on record but followed the largest annualized decline in GDP on record in the second quarter. Personal consumption expenditures rebounded in the third quarter and was by far the biggest contributor to third quarter GDP growth.The consensus estimate for fourth quarter 2020 GDP growth is 4.6%.The consensus forecast for US gross domestic product growth in 2021 is 4.0%,following an expected 3.5% decline in 2020. 11 57 Federal Reserve Source: Federal Reserve Source: Bloomberg The Fed has taken a wide range of aggressive actions to help stabilize and provide liquidity to the financial markets.The Fed has lowered the fed funds target rate to a range of 0.0%-0.25%and continues to purchase Treasury and agency mortgage-backed securities to support smooth market functioning.Earlier this year,policymakers reinstated the Commercial Paper Funding Facility and Money Market Mutual Fund Liquidity Facility.The Fed also established the Primary Market Corporate Credit Facility,Secondary Market Corporate Credit Facility,Term Asset-Backed Securities Loan Facility,Paycheck Protection Program Liquidity Facility,Main Street Lending Facility,and Municipal Liquidity Facility.The Fed has also provided short-term funding through large-scale repo operations and lowered the reserve requirement for depository institutions. Notably, many of the Fed's lending facilities are set to expire at the end of this year,including the Fed’s corporate credit,asset-backed securities,municipal lending,and Main Street Lending programs.The Fed will return the unused funds currently earmarked for those facilities to the Treasury. 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% Effective Federal Funds Rate Yield (%)3,500,000 4,000,000 4,500,000 5,000,000 5,500,000 6,000,000 6,500,000 7,000,000 7,500,000 8,000,000 Federal Reserve Balance Sheet Assets In$ millions12 58 Source: Bloomberg Source: Bloomberg 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 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% US Treasury Yield Curve Dec-20 Sep-20 Dec-19 Yield (%)Bond Yields Treasury yields were much lower on a year-over-year basis at 2020 year-end.The 3-month T-bill yield was down 149 basis points,the 2-year Treasury yield was down 145 basis points,and the 10-Year Treasury yield was down 100 basis points,year-over-year.Yields declined precipitously in March 2020,with the Fed cutting rates by a total of 150 basis points and a flight to safe-haven assets driving down yields across the curve. The Fed has signaled plans to keep the front end of the Treasury yield curve anchored near zero for at least the next few years. 13 59 Section 2|SECTION |Section 2 |Account Profile 14 60 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. As of December 31, 2020 15 61 Compliance As of December 31, 2020 Category Standard Comment U.S. Treasury Issues No limitations; Full faith and credit of the U.S. are pledged for payment of principal and interest.Complies Federal Agencies 35% max per agency issuer; 25% max callables for agency securities; Federal Agencies or U.S. Government Sponsored Enterprises (GSE), participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies or U.S. GSEs. Complies Municipal Securities "A" rated or higher by a NRSRO; 5% max per issuer; Obligations of the State of California, any of the other 49 states, or any local agency within the state of California; Complies Supranational Securities "AA" rating category or better by a Nationally Recognized Statistical Rating Organization ("NRSRO"); 30% maximum; 10% max per issuer; U.S. dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by the International Bank for Reconstruction and Development ("IBRD"), the International Finance Corporation ("IFC") or the Inter- American Development Bank ("IADB") Complies Asset-Backed Securities/Mortgage- Backed Securities/ Collateralized Mortgage Obligations "AA" rated or higher by a NRSRO; 20% maximum (combined); 5% max per issuer Complies Corporate 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 Negotiable Certificates of Deposit "A" long-term debt rated and/or "A-1" short-term rated or higher 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; Issued by a nationally or state-chartered bank, a savings association or a federal association, a state or federal credit union, or by a state- licensed branch of a foreign bank. Complies Time Deposits/ Certificates of Deposit 10% maximum; Collateralized/FDIC Insured; 1 year max maturity Complies Commercial Paper "A-1" rated or higher by a NRSRO; 25% maximum; 5% max per issuer; 10% max of the outstanding commercial paper of an issuing corporation; 20% max amount invested in CP of any one issuer in combination with any other debt from that issuer; 270 days max maturity; Issuer of the commercial paper shall meet all conditions in either A) (1) Organized and operating in the U.S. as a general corp, (2) Has AUM > $500 million, (3) "A" rated issuer debt (if any) or higher by a NRSRO; or B) (1) Organized in the U.S. as a special purpose corp, trust, LLC, (2) Has program wide credit enhancements including, but not limited to, over collateralization, LOC, or surety bond, (3) "A-1" rated or higher by a NRSRO Complies Banker’s Acceptances "A-1" short-term 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 Money Market Mutual Funds and Mutual Funds Highest rating or "AAA" rated by two NRSROs; SEC registered adviser with AUM >$500 million and experience > 5 years; 20% maximum in Mutual Funds and Money Market Mutual Funds; 20% max in Money Market Mutual Fund; 10% max per one Mutual Fund Complies Local Agency Investment Fund (LAIF) Maximum permitted by LAIF; Not used by investment adviser Complies California Asset Management Program (CAMP)Issued by joint powers authority organized pursuant to California Government Code; Not used by investment adviser Complies Prohibited Securities Inverse floaters; Ranges notes, Mortgage-derived, Interest-only strips; Any investment in a security not specifically listed as an Authorized and Suitable Investment in the policy.Complies Max Per Issuer 5% max per issuer, except US Government, its Agencies and instrumentalities (including agency backed-mortgage pools), Supranational securities, or Money Market Mutual Funds Complies Maximum Maturity 5 years, unless otherwise stated in the policy Complies City of Dublin Assets managed by Chandler Asset Management are in full compliance with state law and with the City's investment policy. 16 62 Portfolio Characteristics City of Dublin 12/31/2020 9/30/2020 Benchmark*Portfolio Portfolio Average Maturity (yrs)2.64 2.66 2.70 Average Modified Duration 2.57 2.49 2.50 Average Purchase Yield n/a 1.82%1.92% Average Market Yield 0.18%0.27%0.29% Average Quality**AAA AA/Aa1 AA/Aa1 Total Market Value 217,255,771 216,799,869 *ICE BAML 1-5 Year US Treasury/Agency Index **Benchmark is a blended rating of S&P, Moody’s, and Fitch. Portfolio is S&P and Moody’s respectively. As of December 31, 2020 17 63 City of Dublin Sector Distribution ABS 4.0% Agency 40.7% Corporate 22.8% Money Market Fund FI 0.7% Supranational 4.3% US Treasury 27.5% December 31, 2020 September 30, 2020 ABS 5.1% Agency 40.3% Corporate 22.7% Money Market Fund FI 0.1% Supranational 3.2% US Treasury 28.7% As of December 31, 2020 18 64 Issue Name Investment Type % Portfolio Government of United States US Treasury 27.55% Federal National Mortgage Association Agency 17.32% Federal Home Loan Bank Agency 13.83% Federal Home Loan Mortgage Corp Agency 6.44% Federal Farm Credit Bank Agency 3.14% Intl Bank Recon and Development Supranational 3.11% US Bancorp Corporate 1.76% JP Morgan Chase & Co Corporate 1.51% Apple Inc Corporate 1.49% Royal Bank of Canada Corporate 1.24% Honda Motor Corporation Corporate 1.24% Honeywell Corp Corporate 1.19% Bank of America Corp Corporate 1.19% Inter-American Dev Bank Supranational 1.19% Toronto Dominion Holdings Corporate 1.16% Honda ABS ABS 1.14% Nissan ABS ABS 1.10% PNC Financial Services Group Corporate 1.09% Toyota ABS ABS 1.04% Chubb Corporation Corporate 1.02% IBM Corp Corporate 0.99% Charles Schwab Corp/The Corporate 0.97% ChevronTexaco Corp Corporate 0.95% Berkshire Hathaway Corporate 0.91% Microsoft Corporate 0.86% Deere & Company Corporate 0.84% State Street Bank Corporate 0.84% Exxon Mobil Corp Corporate 0.84% John Deere ABS ABS 0.71% First American Govt Oblig Fund Money Market Fund FI 0.69% Wal-Mart Stores Corporate 0.68% Bank of New York Corporate 0.60% General Dynamics Corp Corporate 0.53% Oracle Corp Corporate 0.47% Merck & Company Corporate 0.36% TOTAL 100.00% Issuers City of Dublin –Account #10198 As of December 31, 2020 19 65 AAA AA A <A NR 12/31/20 7.9%72.8%15.4%0.0%4.0% 09/30/20 6.9%73.4%15.3%0.0%4.4% Source: S&P Ratings December 31, 2020 vs. September 30, 2020 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% AAA AA A <A NR 12/31/2020 9/30/2020 Quality Distribution City of Dublin As of December 31, 2020 20 66 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 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 Year US Treasury/Agency Index Portfolio Compared to the Benchmark as of December 31, 2020 0 -0.25 0.25 -0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+ Portfolio 6.2% 4.0% 8.6% 17.9% 24.9% 23.0% 15.5% 0.0% Benchmark*0.3% 0.2% 2.0% 33.4% 29.3% 18.8% 16.0% 0.0% *ICE BAML 1-5 Year US Treasury/Agency Index Duration Distribution City of Dublin As of December 31, 2020 21 67 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% 12 months 2 years 3 years 5 years 10 years Since Inception City of Dublin ICE BAML 1-5 Yr US Treasury/Agency Index Total Rate of Return Annualized Since Inception 10/31/2013 Annualized TOTAL RATE OF RETURN 3 months 12 months 2 years 3 years 5 years 10 years Since Inception City of Dublin 0.21%4.34%4.47%3.46%2.54%N/A 2.01% ICE BAML 1-5 Year US Treasury/Agency Index 0.03%4.23%4.20%3.31%2.33%N/A 1.84% *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. Investment Performance City of Dublin As of December 31, 2020 22 68 Portfolio Characteristics City of Dublin Reporting Account 12/31/2020 Portfolio 9/30/2020 Portfolio Average Maturity (yrs)0.00 0.00 Modified Duration 0.00 0.00 Average Purchase Yield 0.30%0.48% Average Market Yield 0.30%0.48% Average Quality*AAA/NR AAA/NR Total Market Value 109,868,091 88,060,656 *Portfolio is S&P and Moody’s, respectively. As of December 31, 2020 23 69 City of Dublin Reporting Account Sector Distribution LAIF 45.7% Local Gov Investment Pool 54.3% December 31, 2020 September 30, 2020 LAIF 57.0% Local Gov Investment Pool 43.0% As of December 31, 2020 24 70 Issue Name Investment Type % Portfolio CAMP Local Gov Investment Pool 54.25% Local Agency Investment Fund LAIF 45.75% TOTAL 100.00% Issuers City of Dublin Reporting Account –Account #10219 As of December 31, 2020 25 71 SECTION |Section 3 |Consolidated Information 26 72 Portfolio Characteristics City of Dublin Consolidated 12/31/2020 9/30/2020 Portfolio Portfolio Average Maturity (yrs)1.76 1.92 Modified Duration 1.65 1.78 Average Purchase Yield 1.30%1.50% Average Market Yield 0.28%0.35% Average Quality*AA+/Aa1 AA+/Aa1 Total Market Value 327,123,861 304,860,526 * Portfolio is S&P and Moody’s respectively. As of December 31, 2020 27 73 City of Dublin Consolidated Sector Distribution ABS 2.6% Agency 27.1% Corporate 15.1%LAIF 15.4% Local Gov Investment Pool 18.2% Money Market Fund FI 0.5% Supranational 2.9% US Treasury 18.3% December 31, 2020 September 30, 2020 ABS 3.6% Agency 28.6% Corporate 16.2% LAIF 16.5% Local Gov Investment Pool 12.4% Money Market Fund FI 0.1% Supranational 2.3% US Treasury 20.4% As of December 31, 2020 28 74 SECTION |Section 4 |Portfolio Holdings 29 75 Holdings Report City of Dublin -Account #10198 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 43815NAB0 Honda Auto Receivables Trust 2019-3 A2 1.900% Due 04/15/2022 496,190.60 08/20/2019 1.91% 496,155.87 496,184.55 100.36 0.32% 497,965.10 419.01 0.23% 1,780.55 Aaa / AAA NR 1.29 0.23 47788CAC6 John Deere Owner Trust 2018-A A3 2.660% Due 04/18/2022 63,721.49 02/21/2018 2.68% 63,716.91 63,720.06 100.25 0.44% 63,881.43 75.33 0.03% 161.37 Aaa / NR AAA 1.30 0.12 477870AB5 John Deere Owner Trust 2019-B A2 2.280% Due 05/16/2022 220,510.30 07/16/2019 2.29% 220,509.47 220,509.90 100.20 0.30% 220,958.20 223.45 0.10% 448.30 Aaa / NR AAA 1.37 0.11 43814UAG4 Honda Auto Receivables Trust 2018-2 A3 3.010% Due 05/18/2022 225,094.41 05/22/2018 2.17% 225,089.50 225,092.71 100.83 0.33% 226,971.02 244.67 0.10% 1,878.31 NR / AAA AAA 1.38 0.31 43815HAC1 Honda Auto Receivables Trust 2018-3 A3 2.950% Due 08/22/2022 613,764.71 08/21/2018 2.55% 613,680.50 613,730.10 101.18 0.17% 621,034.77 502.95 0.29% 7,304.67 Aaa / NR AAA 1.64 0.43 47788EAC2 John Deere Owner Trust 2018-B A3 3.080% Due 11/15/2022 734,601.21 07/18/2018 3.10% 734,545.54 734,577.05 101.01 0.20% 742,050.79 1,005.59 0.34% 7,473.74 Aaa / NR AAA 1.87 0.35 65479GAD1 Nissan Auto Receivables Trust 2018-B A3 3.060% Due 03/15/2023 761,738.19 07/17/2018 3.08% 761,713.51 761,730.41 101.37 0.42% 772,200.66 1,035.96 0.36% 10,470.25 Aaa / AAA NR 2.20 0.52 89231PAD0 Toyota Auto Receivables Trust 2018-D A3 3.180% Due 03/15/2023 1,207,579.22 08/29/2019 2.20% 1,233,381.79 1,223,603.55 101.63 0.22% 1,227,265.18 1,706.71 0.57% 3,661.63 Aaa / AAA NR 2.20 0.55 65479JAD5 Nissan Auto Receivables Owner 2019-C A3 1.930% Due 07/15/2024 1,580,000.00 10/16/2019 1.94% 1,579,916.58 1,579,937.64 102.04 0.43% 1,612,224.10 1,355.29 0.74% 32,286.46 Aaa / AAA NR 3.54 1.35 89237VAB5 Toyota Auto Receivables Trust 2020-C A3 0.440% Due 10/15/2024 1,025,000.00 07/21/2020 0.44% 1,024,921.08 1,024,929.17 100.35 0.23% 1,028,595.70 200.44 0.47% 3,666.53 Aaa / AAA NR 3.79 1.66 43813KAC6 Honda Auto Receivables Trust 2020-3 A3 0.370% Due 10/18/2024 1,120,000.00 09/22/2020 0.38% 1,119,835.47 1,119,848.98 100.17 0.29% 1,121,893.92 149.64 0.52% 2,044.94 NR / AAA AAA 3.80 2.01 47787NAC3 John Deere Owner Trust 2020-B A3 0.510% Due 11/15/2024 515,000.00 07/14/2020 0.52% 514,921.51 514,931.57 100.32 0.34% 516,655.73 116.73 0.24% 1,724.16 Aaa / NR AAA 3.88 1.87 TOTAL ABS 8,563,200.13 1.78% 8,588,387.73 8,578,795.69 0.30% 8,651,696.60 7,035.77 3.99% 72,900.91 Aaa / AAA Aaa 2.78 1.03 Agency 3130A7CV5 FHLB Note 1.375% Due 02/18/2021 3,470,000.00 Various 1.45% 3,457,221.20 3,469,662.54 100.16 0.18% 3,475,423.61 17,627.12 1.61% 5,761.07 Aaa / AA+ AAA 0.13 0.13 3135G0J20 FNMA Note 1.375% Due 02/26/2021 5,000,000.00 Various 1.29% 5,018,675.00 5,000,622.40 100.18 0.17% 5,009,215.00 23,871.52 2.32% 8,592.60 Aaa / AA+ AAA 0.16 0.15 313379RB7 FHLB Note 1.875% Due 06/11/2021 3,000,000.00 08/30/2017 1.67% 3,022,620.00 3,002,639.00 100.75 0.18% 3,022,572.00 3,125.00 1.39% 19,933.00 Aaa / AA+ AAA 0.44 0.44 As of December 31, 2020 30 76 Holdings Report City of Dublin -Account #10198 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 3130A8QS5 FHLB Note 1.125% Due 07/14/2021 2,500,000.00 07/25/2016 1.28% 2,481,475.00 2,498,018.83 100.54 0.12% 2,513,422.50 13,046.88 1.16% 15,403.67 Aaa / AA+ AAA 0.53 0.53 3137EAEC9 FHLMC Note 1.125% Due 08/12/2021 3,000,000.00 Various 1.33% 2,971,215.00 2,996,433.81 100.61 0.12% 3,018,417.00 13,031.26 1.40% 21,983.19 Aaa / AA+ AAA 0.61 0.61 3135G0Q89 FNMA Note 1.375% Due 10/07/2021 2,000,000.00 10/06/2016 1.45% 1,992,924.00 1,998,918.84 100.95 0.13% 2,019,082.00 6,416.67 0.93% 20,163.16 Aaa / AA+ AAA 0.77 0.76 3135G0S38 FNMA Note 2.000% Due 01/05/2022 2,500,000.00 01/30/2017 2.04% 2,495,475.00 2,499,072.38 101.90 0.12% 2,547,575.00 24,444.44 1.18% 48,502.62 Aaa / AA+ AAA 1.01 1.00 313378CR0 FHLB Note 2.250% Due 03/11/2022 2,000,000.00 06/19/2017 1.86% 2,035,280.00 2,008,876.24 102.53 0.13% 2,050,648.00 13,750.00 0.95% 41,771.76 Aaa / AA+ NR 1.19 1.18 3135G0T45 FNMA Note 1.875% Due 04/05/2022 3,250,000.00 05/05/2017 1.99% 3,232,125.00 3,245,424.08 102.21 0.12% 3,321,825.00 14,557.29 1.54% 76,400.92 Aaa / AA+ AAA 1.26 1.25 3135G0T94 FNMA Note 2.375% Due 01/19/2023 2,500,000.00 03/28/2018 2.70% 2,463,675.00 2,484,535.52 104.58 0.14% 2,614,502.50 26,718.75 1.22% 129,966.98 Aaa / AA+ AAA 2.05 1.99 313383QR5 FHLB Note 3.250% Due 06/09/2023 1,500,000.00 08/28/2018 2.87% 1,525,005.00 1,512,738.94 107.40 0.21% 1,611,054.00 2,979.17 0.74% 98,315.06 Aaa / AA+ NR 2.44 2.36 3137EAEN5 FHLMC Note 2.750% Due 06/19/2023 2,000,000.00 07/16/2018 2.88% 1,988,360.00 1,994,180.00 106.32 0.18% 2,126,342.00 1,833.33 0.98% 132,162.00 Aaa / AA+ AAA 2.47 2.40 3135G05G4 FNMA Note 0.250% Due 07/10/2023 2,350,000.00 07/08/2020 0.32% 2,344,947.50 2,345,754.98 100.24 0.16% 2,355,611.80 2,790.63 1.09% 9,856.82 Aaa / AA+ AAA 2.52 2.51 3133EKZK5 FFCB Note 1.600% Due 08/14/2023 4,000,000.00 08/26/2019 1.54% 4,009,000.00 4,005,935.77 103.57 0.23% 4,142,976.00 24,355.56 1.92% 137,040.23 Aaa / AA+ AAA 2.62 2.56 313383YJ4 FHLB Note 3.375% Due 09/08/2023 5,000,000.00 Various 2.90% 5,102,615.00 5,058,606.18 108.55 0.18% 5,427,645.00 52,968.76 2.52% 369,038.82 Aaa / AA+ NR 2.69 2.57 3130A0F70 FHLB Note 3.375% Due 12/08/2023 5,000,000.00 Various 2.73% 5,147,870.00 5,088,166.34 109.25 0.21% 5,462,620.00 10,781.25 2.52% 374,453.66 Aaa / AA+ AAA 2.94 2.82 3135G0V34 FNMA Note 2.500% Due 02/05/2024 2,000,000.00 02/27/2019 2.58% 1,992,340.00 1,995,199.22 107.11 0.20% 2,142,128.00 20,277.78 1.00% 146,928.78 Aaa / AA+ AAA 3.10 2.97 3130A1XJ2 FHLB Note 2.875% Due 06/14/2024 3,795,000.00 Various 1.96% 3,958,639.85 3,908,102.81 109.16 0.21% 4,142,511.95 5,152.24 1.91% 234,409.14 Aaa / AA+ NR 3.45 3.31 3133EKWV4 FFCB Note 1.850% Due 07/26/2024 2,500,000.00 08/13/2019 1.65% 2,524,140.00 2,517,384.00 105.60 0.27% 2,639,910.00 19,913.19 1.22% 122,526.00 Aaa / AA+ AAA 3.57 3.44 3130A2UW4 FHLB Note 2.875% Due 09/13/2024 2,000,000.00 10/10/2019 1.58% 2,122,020.00 2,091,633.70 109.67 0.25% 2,193,366.00 17,250.00 1.02% 101,732.30 Aaa / AA+ AAA 3.70 3.51 3135G0W66 FNMA Note 1.625% Due 10/15/2024 2,000,000.00 11/08/2019 1.80% 1,983,400.00 1,987,238.58 105.41 0.19% 2,108,266.00 6,861.11 0.97% 121,027.42 Aaa / AA+ AAA 3.79 3.68 As of December 31, 2020 31 77 Holdings Report City of Dublin -Account #10198 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 3135G0X24 FNMA Note 1.625% Due 01/07/2025 4,200,000.00 Various 1.18% 4,287,898.80 4,273,017.34 105.38 0.28% 4,425,825.60 32,987.50 2.05% 152,808.26 Aaa / AA+ AAA 4.02 3.87 3137EAEP0 FHLMC Note 1.500% Due 02/12/2025 4,200,000.00 Various 1.23% 4,254,786.30 4,245,636.10 104.90 0.30% 4,405,917.60 24,325.00 2.04% 160,281.50 Aaa / NR AAA 4.12 3.98 3135G03U5 FNMA Note 0.625% Due 04/22/2025 1,825,000.00 04/22/2020 0.67% 1,821,240.50 1,821,759.90 101.18 0.35% 1,846,452.88 2,186.20 0.85% 24,692.98 Aaa / AA+ AAA 4.31 4.25 3135G04Z3 FNMA Note 0.500% Due 06/17/2025 3,435,000.00 06/17/2020 0.54% 3,427,889.55 3,428,653.61 100.53 0.38% 3,453,222.68 667.92 1.59% 24,569.07 Aaa / AA+ AAA 4.46 4.41 3137EAEU9 FHLMC Note 0.375% Due 07/21/2025 1,745,000.00 07/21/2020 0.48% 1,736,309.90 1,737,081.72 100.05 0.36% 1,745,921.36 2,871.98 0.80% 8,839.64 Aaa / AA+ AAA 4.56 4.51 3135G05X7 FNMA Note 0.375% Due 08/25/2025 2,755,000.00 08/25/2020 0.47% 2,742,106.60 2,743,004.33 99.98 0.38% 2,754,396.66 3,558.54 1.27% 11,392.33 Aaa / AA+ AAA 4.65 4.60 3137EAEX3 FHLMC Note 0.375% Due 09/23/2025 2,655,000.00 09/23/2020 0.44% 2,647,008.45 2,647,437.82 99.83 0.41% 2,650,582.08 2,655.00 1.22% 3,144.26 Aaa / AA+ AAA 4.73 4.68 3135G06G3 FNMA Note 0.500% Due 11/07/2025 2,860,000.00 11/09/2020 0.57% 2,849,761.20 2,850,042.33 100.42 0.41% 2,871,963.38 1,946.39 1.32% 21,921.05 Aaa / AA+ AAA 4.85 4.78 TOTAL Agency 85,040,000.00 1.61% 85,636,023.85 85,455,777.31 0.23% 88,099,395.60 392,950.48 40.73% 2,643,618.29 Aaa / AA+ Aaa 2.63 2.56 Corporate 24422ETF6 John Deere Capital Corp Note 2.550% Due 01/08/2021 750,000.00 Various 2.42% 753,733.15 750,017.67 100.02 1.61% 750,133.50 9,190.62 0.35% 115.83 A2 / A A 0.02 0.02 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 1,800,235.83 100.14 0.48% 1,802,581.20 13,332.00 0.84% 2,345.37 Aa1 / AA NR 0.16 0.09 369550BE7 General Dynamics Corp Note 3.000% Due 05/11/2021 1,130,000.00 05/08/2018 3.24% 1,122,146.50 1,129,068.47 100.96 0.33% 1,140,885.29 4,708.33 0.53% 11,816.82 A2 / A NR 0.36 0.36 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 1,000,017.31 100.54 0.21% 1,005,448.00 2,625.00 0.46% 5,430.69 Aa2 / AA NR 0.37 0.29 857477AV5 State Street Bank Note 1.950% Due 05/19/2021 1,800,000.00 Various 1.91% 1,802,989.00 1,800,251.77 100.67 0.21% 1,811,986.21 4,095.01 0.84% 11,734.44 A1 / A AA- 0.38 0.38 594918BP8 Microsoft Callable Note Cont 7/8/2021 1.550% Due 08/08/2021 1,850,000.00 Various 1.59% 1,846,471.85 1,849,571.17 100.69 0.22% 1,862,726.16 11,390.35 0.86% 13,154.99 Aaa / AAA AA+ 0.60 0.52 68389XBK0 Oracle Corp Callable Note Cont 8/15/2021 1.900% Due 09/15/2021 1,000,000.00 06/28/2018 3.08% 964,080.00 992,136.76 101.01 0.28% 1,010,070.00 5,594.44 0.47% 17,933.24 A3 / A A- 0.71 0.62 91159HHP8 US Bancorp Callable Note Cont 12/23/2021 2.625% Due 01/24/2022 1,000,000.00 05/23/2017 2.35% 1,011,640.00 1,002,478.37 102.30 0.27% 1,022,951.00 11,447.92 0.48% 20,472.63 A1 / A+ A+ 1.07 0.96 As of December 31, 2020 32 78 Holdings Report City of Dublin -Account #10198 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 808513AT2 Charles Schwab Corp Callable Note Cont 12/25/2022 2.650% Due 01/25/2023 2,000,000.00 05/21/2019 2.74% 1,993,920.00 1,996,586.51 104.76 0.24% 2,095,118.00 22,966.67 0.97% 98,531.49 A2 / A A 2.07 1.93 44932HAH6 IBM Credit Corp Note 3.000% Due 02/06/2023 2,000,000.00 02/26/2018 3.09% 1,991,340.00 1,996,322.86 105.90 0.18% 2,118,046.00 24,166.67 0.99% 121,723.14 A2 / A NR 2.10 2.03 084670BR8 Berkshire Hathaway Callable Note Cont 1/15/2023 2.750% Due 03/15/2023 1,865,000.00 Various 3.35% 1,818,500.75 1,842,504.35 105.02 0.28% 1,958,552.13 15,101.32 0.91% 116,047.78 Aa2 / AA A+ 2.20 1.98 58933YAF2 Merck & Co Note 2.800% Due 05/18/2023 740,000.00 10/26/2018 3.41% 720,996.80 730,080.81 106.05 0.25% 784,752.24 2,474.89 0.36% 54,671.43 A1 / AA- A+ 2.38 2.31 46625HRL6 JP Morgan Chase Callable Note Cont 3/18/2023 2.700% Due 05/18/2023 500,000.00 12/20/2018 3.74% 479,055.00 488,692.83 105.13 0.37% 525,672.50 1,612.50 0.24% 36,979.67 A2 / A- AA- 2.38 2.16 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 2,208,516.93 107.35 0.36% 2,372,468.15 4,941.80 1.09% 163,951.22 A2 / A A+ 2.44 2.28 166764AH3 Chevron Corp Callable Note Cont 3/24/2023 3.191% Due 06/24/2023 1,000,000.00 11/08/2018 3.59% 983,170.00 990,965.37 106.36 0.33% 1,063,563.00 620.47 0.49% 72,597.63 Aa2 / AA NR 2.48 2.17 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 1,379,821.92 107.39 0.31% 1,482,042.72 651.66 0.68% 102,220.80 Aa2 / AA AA 2.48 2.33 02665WCJ8 American Honda Finance Note 3.450% Due 07/14/2023 1,000,000.00 Various 3.54% 996,275.00 997,961.10 107.70 0.39% 1,077,031.00 16,004.17 0.50% 79,069.90 A3 / A- NR 2.53 2.41 06406RAJ6 Bank of NY Mellon Corp Note 3.450% Due 08/11/2023 1,200,000.00 08/24/2018 3.42% 1,201,836.00 1,200,966.21 108.10 0.33% 1,297,155.60 16,100.00 0.60% 96,189.39 A1 / A AA- 2.61 2.49 06051GHF9 Bank of America Corp Callable Note 1X 3/5/2023 3.550% Due 03/05/2024 2,400,000.00 Various 2.77% 2,434,650.00 2,422,375.01 106.83 0.40% 2,563,896.00 27,453.33 1.19% 141,520.99 A2 / A- A+ 3.18 2.09 89114QCB2 Toronto Dominion Bank Note 3.250% Due 03/11/2024 2,300,000.00 03/26/2019 2.95% 2,331,234.00 2,320,103.65 108.60 0.53% 2,497,823.00 22,840.28 1.16% 177,719.35 Aa3 / A AA- 3.19 3.03 037833CU2 Apple Inc Callable Note Cont 3/11/2024 2.850% Due 05/11/2024 3,000,000.00 Various 2.56% 3,038,334.00 3,026,388.61 107.82 0.38% 3,234,747.00 11,875.00 1.49% 208,358.39 Aa1 / AA+ NR 3.36 3.07 24422ETT6 John Deere Capital Corp Note 2.650% Due 06/24/2024 1,000,000.00 08/26/2019 2.00% 1,029,680.00 1,021,392.51 107.41 0.50% 1,074,098.00 515.28 0.49% 52,705.49 A2 / A A 3.48 3.34 02665WCZ2 American Honda Finance Note 2.400% Due 06/27/2024 1,500,000.00 07/10/2019 2.49% 1,493,742.00 1,495,603.51 106.22 0.60% 1,593,297.00 400.00 0.73% 97,693.49 A3 / A- NR 3.49 3.36 78013XZU5 Royal Bank of Canada Note 2.550% Due 07/16/2024 2,500,000.00 09/10/2019 2.28% 2,531,325.00 2,522,878.41 106.93 0.57% 2,673,370.00 29,218.75 1.24% 150,491.59 A2 / A AA 3.54 3.37 46647PAU0 JP Morgan Chase & Co Callable Note 1X 7/23/2023 3.797% Due 07/23/2024 2,500,000.00 09/12/2019 2.11% 2,632,175.00 2,596,893.52 108.48 0.64% 2,711,887.50 41,661.53 1.27% 114,993.98 A2 / A- AA- 3.56 3.32 As of December 31, 2020 33 79 Holdings Report City of Dublin -Account #10198 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 90331HPL1 US Bank NA Callable Note Cont 12/21/2024 2.050% Due 01/21/2025 2,610,000.00 01/16/2020 2.10% 2,604,440.70 2,605,493.53 105.82 0.57% 2,761,959.42 23,780.00 1.28% 156,465.89 A1 / AA- AA- 4.06 3.80 00440EAS6 Chubb INA Holdings Inc Note 3.150% Due 03/15/2025 2,000,000.00 10/28/2020 0.78% 2,203,740.00 2,195,702.67 110.38 0.64% 2,207,528.00 18,550.00 1.02% 11,825.33 A3 / A A 4.21 3.94 438516CB0 Honeywell Intl Callable Note Cont 5/1/2025 1.350% Due 06/01/2025 2,500,000.00 06/23/2020 0.85% 2,559,500.00 2,553,116.60 103.61 0.51% 2,590,217.50 2,812.50 1.19% 37,100.90 A2 / A A 4.42 4.21 TOTAL Corporate 46,535,000.00 2.50% 46,944,785.85 46,916,144.26 0.43% 49,090,006.12 346,130.49 22.75% 2,173,861.86 A1 / A+ A+ 2.58 2.37 Money Market Fund FI 31846V203 First American Govt Obligation Fund Class Y 1,494,033.37 Various 0.01% 1,494,033.37 1,494,033.37 1.00 0.01% 1,494,033.37 0.00 0.69% 0.00 Aaa / AAA AAA 0.00 0.00 TOTAL Money Market Fund FI 1,494,033.37 0.01% 1,494,033.37 1,494,033.37 0.01% 1,494,033.37 0.00 0.69% 0.00 Aaa / AAA Aaa 0.00 0.00 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 1,997,562.81 101.91 0.21% 2,038,244.00 17,222.22 0.95% 40,681.19 Aaa / NR AAA 1.07 1.05 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 2,482,841.72 102.67 0.18% 2,566,862.50 13,003.47 1.19% 84,020.78 Aaa / AAA AAA 1.70 1.68 459058JB0 Intl. Bank Recon & Development Note 0.625% Due 04/22/2025 2,260,000.00 04/15/2020 0.70% 2,251,253.80 2,252,470.41 100.97 0.40% 2,281,831.60 2,707.29 1.05% 29,361.19 Aaa / AAA NR 4.31 4.24 459058JL8 Intl. Bank Recon & Development Note 0.500% Due 10/28/2025 2,400,000.00 10/21/2020 0.52% 2,397,288.00 2,397,384.54 100.19 0.46% 2,404,490.40 2,100.00 1.11% 7,105.86 Aaa / AAA AAA 4.83 4.76 TOTAL Supranational 9,160,000.00 1.38% 9,090,536.80 9,130,259.48 0.31% 9,291,428.50 35,032.98 4.29% 161,169.02 Aaa / AAA Aaa 3.01 2.96 US Treasury 912828U65 US Treasury Note 1.750% Due 11/30/2021 2,500,000.00 12/28/2016 2.06% 2,464,461.50 2,493,414.40 101.48 0.13% 2,536,915.00 3,846.15 1.17% 43,500.60 Aaa / AA+ AAA 0.92 0.91 912828V72 US Treasury Note 1.875% Due 01/31/2022 1,500,000.00 02/27/2017 1.84% 1,502,407.37 1,500,528.87 101.89 0.13% 1,528,359.00 11,769.70 0.71% 27,830.13 Aaa / AA+ AAA 1.08 1.07 912828J76 US Treasury Note 1.750% Due 03/31/2022 3,000,000.00 04/25/2017 1.85% 2,985,830.37 2,996,426.10 102.03 0.12% 3,060,936.00 13,413.46 1.42% 64,509.90 Aaa / AA+ AAA 1.25 1.23 912828WZ9 US Treasury Note 1.750% Due 04/30/2022 2,750,000.00 05/23/2017 1.84% 2,738,944.75 2,747,030.67 102.17 0.11% 2,809,727.25 8,329.33 1.30% 62,696.58 Aaa / AA+ AAA 1.33 1.32 As of December 31, 2020 34 80 Holdings Report City of Dublin -Account #10198 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 912828XR6 US Treasury Note 1.750% Due 05/31/2022 1,500,000.00 06/28/2017 1.81% 1,496,020.65 1,498,859.56 102.30 0.12% 1,534,512.00 2,307.69 0.71% 35,652.44 Aaa / AA+ AAA 1.41 1.40 912828XW5 US Treasury Note 1.750% Due 06/30/2022 3,000,000.00 07/25/2017 1.86% 2,984,072.55 2,995,177.52 102.43 0.13% 3,073,008.00 145.03 1.41% 77,830.48 Aaa / AA+ AAA 1.50 1.49 912828L24 US Treasury Note 1.875% Due 08/31/2022 2,000,000.00 09/27/2017 1.92% 1,995,944.20 1,998,630.77 102.90 0.13% 2,057,968.00 12,741.71 0.95% 59,337.23 Aaa / AA+ AAA 1.67 1.63 912828L57 US Treasury Note 1.750% Due 09/30/2022 3,750,000.00 Various 2.02% 3,702,841.80 3,733,202.78 102.82 0.13% 3,855,907.50 16,766.83 1.78% 122,704.72 Aaa / AA+ AAA 1.75 1.72 912828M49 US Treasury Note 1.875% Due 10/31/2022 1,000,000.00 01/30/2018 2.47% 973,359.38 989,737.06 103.20 0.13% 1,031,953.00 3,211.33 0.48% 42,215.94 Aaa / AA+ AAA 1.83 1.80 9128284D9 US Treasury Note 2.500% Due 03/31/2023 3,750,000.00 Various 2.75% 3,706,123.05 3,730,071.06 105.30 0.14% 3,948,633.75 23,952.61 1.83% 218,562.69 Aaa / AA+ AAA 2.25 2.19 912828R69 US Treasury Note 1.625% Due 05/31/2023 1,500,000.00 05/30/2018 2.67% 1,427,167.97 1,464,900.23 103.57 0.14% 1,553,496.00 2,142.86 0.72% 88,595.77 Aaa / AA+ AAA 2.41 2.37 912828U57 US Treasury Note 2.125% Due 11/30/2023 5,000,000.00 Various 2.53% 4,908,242.19 4,944,842.97 105.73 0.15% 5,286,525.00 9,340.66 2.44% 341,682.03 Aaa / AA+ AAA 2.92 2.84 912828V80 US Treasury Note 2.250% Due 01/31/2024 5,000,000.00 Various 2.32% 4,983,691.41 4,989,566.67 106.39 0.17% 5,319,530.00 47,078.80 2.47% 329,963.33 Aaa / AA+ AAA 3.08 2.97 912828WJ5 US Treasury Note 2.500% Due 05/15/2024 1,750,000.00 06/10/2019 1.91% 1,798,261.72 1,782,978.84 107.76 0.19% 1,885,761.50 5,680.25 0.87% 102,782.66 Aaa / AA+ AAA 3.37 3.25 9128282N9 US Treasury Note 2.125% Due 07/31/2024 2,000,000.00 08/30/2019 1.44% 2,064,531.25 2,046,935.08 106.83 0.21% 2,136,640.00 17,785.33 0.99% 89,704.92 Aaa / AA+ AAA 3.58 3.44 912828YH7 US Treasury Note 1.500% Due 09/30/2024 3,500,000.00 Various 1.65% 3,474,941.41 3,480,639.56 104.71 0.24% 3,665,018.00 13,413.47 1.69% 184,378.44 Aaa / AA+ AAA 3.75 3.64 9128283J7 US Treasury Note 2.125% Due 11/30/2024 3,000,000.00 Various 1.76% 3,051,650.40 3,040,750.17 107.29 0.25% 3,218,790.00 5,604.40 1.48% 178,039.83 Aaa / AA+ AAA 3.92 3.77 912828ZC7 US Treasury Note 1.125% Due 02/28/2025 3,500,000.00 03/24/2020 0.52% 3,603,222.66 3,587,060.09 103.53 0.27% 3,623,455.50 13,378.80 1.67% 36,395.41 Aaa / AA+ AAA 4.16 4.06 912828ZL7 US Treasury Note 0.375% Due 04/30/2025 4,000,000.00 Various 0.38% 3,998,593.75 3,998,751.74 100.36 0.29% 4,014,532.00 2,569.06 1.85% 15,780.26 Aaa / AA+ AAA 4.33 4.29 91282CAM3 US Treasury Note 0.250% Due 09/30/2025 2,500,000.00 10/16/2020 0.32% 2,491,406.25 2,491,758.18 99.62 0.33% 2,490,527.50 1,596.84 1.15% (1,230.68) Aaa / AA+ AAA 4.75 4.71 As of December 31, 2020 35 81 Holdings Report City of Dublin -Account #10198 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 91282CBC4 US Treasury Note 0.375% Due 12/31/2025 1,000,000.00 12/29/2020 0.38% 999,921.88 999,921.92 100.08 0.36% 1,000,781.00 10.36 0.46% 859.08 Aaa / AA+ AAA 5.00 4.95 TOTAL US Treasury 57,500,000.00 1.77% 57,351,636.51 57,511,184.24 0.18% 59,632,976.00 215,084.67 27.55% 2,121,791.76 Aaa / AA+ Aaa 2.76 2.69 TOTAL PORTFOLIO 208,292,233.50 1.84% 209,105,404.11 209,086,194.35 0.27% 216,259,536.19 996,234.39 100.00% 7,173,341.84 Aa1 / AA Aaa 2.66 2.49 TOTAL MARKET VALUE PLUS ACCRUALS 217,255,770.58 As of December 31, 2020 36 82 Holdings Report City of Dublin Reporting Account -Account #10219 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 50,189,402.70 Various 0.52% 50,189,402.70 50,189,402.70 1.00 0.52% 50,189,402.70 73,593.72 45.75% 0.00 NR / NR NR 0.00 0.00 TOTAL LAIF 50,189,402.70 0.52% 50,189,402.70 50,189,402.70 0.52% 50,189,402.70 73,593.72 45.75% 0.00 NR / NR NR 0.00 0.00 Local Gov Investment Pool 90CAMP$00 California Asset Mgmt Program CAMP 59,605,094.09 Various 0.12% 59,605,094.09 59,605,094.09 1.00 0.12% 59,605,094.09 0.00 54.25% 0.00 NR / AAA NR 0.00 0.00 TOTAL Local Gov Investment Pool 59,605,094.09 0.12% 59,605,094.09 59,605,094.09 0.12% 59,605,094.09 0.00 54.25% 0.00 NR / AAA NR 0.00 0.00 TOTAL PORTFOLIO 109,794,496.79 0.30% 109,794,496.79 109,794,496.79 0.30% 109,794,496.79 73,593.72 100.00% 0.00 NR / AAA NR 0.00 0.00 TOTAL MARKET VALUE PLUS ACCRUALS 109,868,090.51 As of December 31, 2020 37 83 SECTION |Section 5 |Transactions 38 84 Transaction Ledger City of Dublin -Account #10198 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 10/19/2020 91282CAM3 2,500,000.00 US Treasury Note 0.25% Due: 09/30/2025 99.656 0.32%2,491,406.25 326.24 2,491,732.49 0.00 Purchase 10/28/2020 459058JL8 2,400,000.00 Intl. Bank Recon & Development Note 0.5% Due: 10/28/2025 99.887 0.52%2,397,288.00 0.00 2,397,288.00 0.00 Purchase 10/30/2020 00440EAS6 2,000,000.00 Chubb INA Holdings Inc Note 3.15% Due: 03/15/2025 110.187 0.78%2,203,740.00 7,875.00 2,211,615.00 0.00 Purchase 11/12/2020 3135G06G3 2,860,000.00 FNMA Note 0.5% Due: 11/07/2025 99.642 0.57%2,849,761.20 0.00 2,849,761.20 0.00 Purchase 12/31/2020 91282CBC4 1,000,000.00 US Treasury Note 0.375% Due: 12/31/2025 99.992 0.38%999,921.88 0.00 999,921.88 0.00 Subtotal 10,760,000.00 10,942,117.33 8,201.24 10,950,318.57 0.00 TOTAL ACQUISITIONS 10,760,000.00 10,942,117.33 8,201.24 10,950,318.57 0.00 DISPOSITIONS Sale 10/19/2020 912828N89 1,000,000.00 US Treasury Note 1.375% Due: 01/31/2021 100.355 1.49%1,003,554.69 2,989.13 1,006,543.82 3,880.50 Sale 10/19/2020 912828P87 1,500,000.00 US Treasury Note 1.125% Due: 02/28/2021 100.375 2.54%1,505,625.00 2,284.19 1,507,909.19 13,046.08 Sale 10/22/2020 3135G0F73 1,500,000.00 FNMA Note 1.5% Due: 11/30/2020 100.149 1.87%1,502,235.00 8,875.00 1,511,110.00 2,803.93 Sale 10/29/2020 912828P87 1,500,000.00 US Treasury Note 1.125% Due: 02/28/2021 100.344 2.54%1,505,156.25 2,750.35 1,507,906.60 12,015.13 Sale 10/29/2020 912828T34 500,000.00 US Treasury Note 1.125% Due: 09/30/2021 100.918 1.69%504,589.84 448.15 505,037.99 6,926.38 Sale 11/10/2020 912828T34 1,000,000.00 US Treasury Note 1.125% Due: 09/30/2021 100.883 1.69%1,008,828.13 1,267.17 1,010,095.30 13,334.32 Subtotal 7,000,000.00 7,029,988.91 18,613.99 7,048,602.90 52,006.34 September 30, 2020 through December 31, 2020 As of December 31, 2020 39 85 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 11/03/2020 00440EAT4 2,000,000.00 Chubb INA Holdings Inc Callable Note Cont 10/3/2020 2.3% Due: 11/03/2020 100.000 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 DISPOSITIONS 9,000,000.00 9,029,988.91 18,613.99 9,048,602.90 52,006.34 September 30, 2020 through December 31, 2020 As of December 31, 2020 40 86 Transaction Ledger City of Dublin Reporting Account -Account #10219 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 10/15/2020 90LAIF$00 120,058.01 Local Agency Investment Fund State Pool 1.000 0.66%120,058.01 0.00 120,058.01 0.00 Purchase 10/31/2020 90CAMP$00 6,179.67 California Asset Mgmt Program CAMP 1.000 0.19%6,179.67 0.00 6,179.67 0.00 Purchase 11/30/2020 90CAMP$00 4,075.40 California Asset Mgmt Program CAMP 1.000 0.12%4,075.40 0.00 4,075.40 0.00 Purchase 12/31/2020 90CAMP$00 4,407.24 California Asset Mgmt Program CAMP 1.000 0.12%4,407.24 0.00 4,407.24 0.00 Subtotal 134,720.32 134,720.32 0.00 134,720.32 0.00 Security Contribution 10/09/2020 90CAMP$00 2,800,000.00 California Asset Mgmt Program CAMP 1.000 2,800,000.00 0.00 2,800,000.00 0.00 Security Contribution 10/30/2020 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 12/21/2020 90CAMP$00 28,000,000.00 California Asset Mgmt Program CAMP 1.000 28,000,000.00 0.00 28,000,000.00 0.00 Subtotal 32,800,000.00 32,800,000.00 0.00 32,800,000.00 0.00 TOTAL ACQUISITIONS 32,934,720.32 32,934,720.32 0.00 32,934,720.32 0.00 DISPOSITIONS Security Withdrawal 10/02/2020 90CAMP$00 1,200,000.00 California Asset Mgmt Program CAMP 1.000 1,200,000.00 0.00 1,200,000.00 0.00 Security Withdrawal 10/23/2020 90CAMP$00 500,000.00 California Asset Mgmt Program CAMP 1.000 500,000.00 0.00 500,000.00 0.00 Security Withdrawal 11/06/2020 90CAMP$00 5,000,000.00 California Asset Mgmt Program CAMP 1.000 5,000,000.00 0.00 5,000,000.00 0.00 Security Withdrawal 11/25/2020 90CAMP$00 1,000,000.00 California Asset Mgmt Program CAMP 1.000 1,000,000.00 0.00 1,000,000.00 0.00 September 30, 2020 through December 31, 2020 As of December 31, 2020 41 87 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 Security Withdrawal 12/11/2020 90CAMP$00 3,400,000.00 California Asset Mgmt Program CAMP 1.000 3,400,000.00 0.00 3,400,000.00 0.00 Subtotal 11,100,000.00 11,100,000.00 0.00 11,100,000.00 0.00 TOTAL DISPOSITIONS 11,100,000.00 11,100,000.00 0.00 11,100,000.00 0.00 September 30, 2020 through December 31, 2020 As of December 31, 2020 42 88 Transaction Ledger City of Dublin Consolidated -Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 10/15/2020 90LAIF$00 120,058.01 Local Agency Investment Fund State Pool 1.000 0.66%120,058.01 0.00 120,058.01 0.00 Purchase 10/19/2020 91282CAM3 2,500,000.00 US Treasury Note 0.25% Due: 09/30/2025 99.656 0.32%2,491,406.25 326.24 2,491,732.49 0.00 Purchase 10/28/2020 459058JL8 2,400,000.00 Intl. Bank Recon & Development Note 0.5% Due: 10/28/2025 99.887 0.52%2,397,288.00 0.00 2,397,288.00 0.00 Purchase 10/30/2020 00440EAS6 2,000,000.00 Chubb INA Holdings Inc Note 3.15% Due: 03/15/2025 110.187 0.78%2,203,740.00 7,875.00 2,211,615.00 0.00 Purchase 10/31/2020 90CAMP$00 6,179.67 California Asset Mgmt Program CAMP 1.000 0.19%6,179.67 0.00 6,179.67 0.00 Purchase 11/12/2020 3135G06G3 2,860,000.00 FNMA Note 0.5% Due: 11/07/2025 99.642 0.57%2,849,761.20 0.00 2,849,761.20 0.00 Purchase 11/30/2020 90CAMP$00 4,075.40 California Asset Mgmt Program CAMP 1.000 0.12%4,075.40 0.00 4,075.40 0.00 Purchase 12/31/2020 90CAMP$00 4,407.24 California Asset Mgmt Program CAMP 1.000 0.12%4,407.24 0.00 4,407.24 0.00 Purchase 12/31/2020 91282CBC4 1,000,000.00 US Treasury Note 0.375% Due: 12/31/2025 99.992 0.38%999,921.88 0.00 999,921.88 0.00 Subtotal 10,894,720.32 11,076,837.65 8,201.24 11,085,038.89 0.00 Security Contribution 10/09/2020 90CAMP$00 2,800,000.00 California Asset Mgmt Program CAMP 1.000 2,800,000.00 0.00 2,800,000.00 0.00 Security Contribution 10/30/2020 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 12/21/2020 90CAMP$00 28,000,000.00 California Asset Mgmt Program CAMP 1.000 28,000,000.00 0.00 28,000,000.00 0.00 Subtotal 32,800,000.00 32,800,000.00 0.00 32,800,000.00 0.00 TOTAL ACQUISITIONS 43,694,720.32 43,876,837.65 8,201.24 43,885,038.89 0.00 September 30, 2020 through December 31, 2020 As of December 31, 2020 43 89 Transaction Ledger 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 10/19/2020 912828N89 1,000,000.00 US Treasury Note 1.375% Due: 01/31/2021 100.355 1.49%1,003,554.69 2,989.13 1,006,543.82 3,880.50 Sale 10/19/2020 912828P87 1,500,000.00 US Treasury Note 1.125% Due: 02/28/2021 100.375 2.54%1,505,625.00 2,284.19 1,507,909.19 13,046.08 Sale 10/22/2020 3135G0F73 1,500,000.00 FNMA Note 1.5% Due: 11/30/2020 100.149 1.87%1,502,235.00 8,875.00 1,511,110.00 2,803.93 Sale 10/29/2020 912828P87 1,500,000.00 US Treasury Note 1.125% Due: 02/28/2021 100.344 2.54%1,505,156.25 2,750.35 1,507,906.60 12,015.13 Sale 10/29/2020 912828T34 500,000.00 US Treasury Note 1.125% Due: 09/30/2021 100.918 1.69%504,589.84 448.15 505,037.99 6,926.38 Sale 11/10/2020 912828T34 1,000,000.00 US Treasury Note 1.125% Due: 09/30/2021 100.883 1.69%1,008,828.13 1,267.17 1,010,095.30 13,334.32 Subtotal 7,000,000.00 7,029,988.91 18,613.99 7,048,602.90 52,006.34 Maturity 11/03/2020 00440EAT4 2,000,000.00 Chubb INA Holdings Inc Callable Note Cont 10/3/2020 2.3% Due: 11/03/2020 100.000 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 Security Withdrawal 10/02/2020 90CAMP$00 1,200,000.00 California Asset Mgmt Program CAMP 1.000 1,200,000.00 0.00 1,200,000.00 0.00 Security Withdrawal 10/23/2020 90CAMP$00 500,000.00 California Asset Mgmt Program CAMP 1.000 500,000.00 0.00 500,000.00 0.00 Security Withdrawal 11/06/2020 90CAMP$00 5,000,000.00 California Asset Mgmt Program CAMP 1.000 5,000,000.00 0.00 5,000,000.00 0.00 Security Withdrawal 11/25/2020 90CAMP$00 1,000,000.00 California Asset Mgmt Program CAMP 1.000 1,000,000.00 0.00 1,000,000.00 0.00 September 30, 2020 through December 31, 2020 As of December 31, 2020 44 90 Transaction Ledger 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 Security Withdrawal 12/11/2020 90CAMP$00 3,400,000.00 California Asset Mgmt Program CAMP 1.000 3,400,000.00 0.00 3,400,000.00 0.00 Subtotal 11,100,000.00 11,100,000.00 0.00 11,100,000.00 0.00 TOTAL DISPOSITIONS 20,100,000.00 20,129,988.91 18,613.99 20,148,602.90 52,006.34 September 30, 2020 through December 31, 2020 As of December 31, 2020 45 91 Important Disclosures 2020 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-advisory fees and represent the client’s Total Return.The deduction of advisory fees lowers performance results.These results include the reinvestment of dividends and other earnings.Past performance may not be indicative of future results.Therefore,clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels.All investment strategies have the potential for profit or loss.Economic factors,market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio. Index returns assume reinvestment of all distributions.Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee,the incurrence of which would have the effect of decreasing historical performance results.It is not possible to invest directly in an index. Source ice Data Indices,LLC ("ICE"),used with permission. ICE permits use of the ICE indices and related data on an "as is"basis; ICE,its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied,including any warranties of merchantability or fitness for a particular purpose or use,including the indices,index data and any data included in,related to,or derived therefrom.Neither ICE data,its affiliates or their respective third party providers guarantee the quality,adequacy,accuracy,timeliness or completeness of the indices or the index data or any component thereof,and the indices and index data and all components thereof are provided on an "as is"basis and licensee's use it at licensee's own risk. ICE data,its affiliates and their respective third party do not sponsor,endorse,or recommend chandler asset management,or any of its products or services. This report is provided for informational purposes only and should not be construed as a specific investment or legal advice.The information contained herein was obtained from sources believed to be reliable as of the date of publication,but may become outdated or superseded at any time without notice.Any opinions or views expressed are based on current market conditions and are subject to change.This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results.Past performance is not indicative of future results.This report is not intended to constitute an offer,solicitation,recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment. Fixed income investments are subject to interest, credit and market risk.Interest rate risk:the value of fixed income investments will decline as interest rates rise.Credit risk:the possibility that the borrower may not be able to repay interest and principal.Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk.Market risk:the bond market in general could decline due to economic conditions,especially during periods of rising interest rates. Ratings information have been provided by Moody’s,S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy. Security level ratings for U.S.Agency issued mortgage-backed securities (“MBS”)reflect the issuer rating because the securities themselves are not rated.The issuing U.S.Agency guarantees the full and timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P,Moody’s and Fitch respectively. As of December 31, 2020 46 92 Benchmark Disclosures ICE BAML 1-5 Yr US Treasury/Agency Index The ICE BAML 1-5 Year US Treasury &Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market.Qualifying securities must have an investment grade rating (based on an average of Moody’s,S&P and Fitch).Qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity,at least 18 months to maturity at time of issuance,a fixed coupon schedule and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies.(Index:GVA0.Please visit www.mlindex.ml.com for more information) The ICE BAML 1-3 Year US Treasury &Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market.Qualifying securities must have an investment grade rating (based on an average of Moody’s,S&P and Fitch).Qualifying securities must have at least one year remaining term to final maturity and less than three years remaining term to final maturity,at least 18 months to maturity at time of issuance,a fixed coupon schedule and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies.(Index:G1A0.Please visit www.mlindex.ml.com for more information) As of December 31, 2020 47 93 Transaction Ledger As of October 31, 2020 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 10/02/2020 31846V203 10.14 First American Govt Obligation Fund Class Y 1.000 0.01%10.14 0.00 10.14 0.00 Purchase 10/05/2020 31846V203 30,468.75 First American Govt Obligation Fund Class Y 1.000 0.01%30,468.75 0.00 30,468.75 0.00 Purchase 10/07/2020 31846V203 13,750.00 First American Govt Obligation Fund Class Y 1.000 0.01%13,750.00 0.00 13,750.00 0.00 Purchase 10/15/2020 31846V203 16,250.00 First American Govt Obligation Fund Class Y 1.000 0.01%16,250.00 0.00 16,250.00 0.00 Purchase 10/15/2020 31846V203 2,541.17 First American Govt Obligation Fund Class Y 1.000 0.01%2,541.17 0.00 2,541.17 0.00 Purchase 10/15/2020 31846V203 375.83 First American Govt Obligation Fund Class Y 1.000 0.01%375.83 0.00 375.83 0.00 Purchase 10/15/2020 31846V203 218.88 First American Govt Obligation Fund Class Y 1.000 0.01%218.88 0.00 218.88 0.00 Purchase 10/15/2020 31846V203 108,822.32 First American Govt Obligation Fund Class Y 1.000 0.01%108,822.32 0.00 108,822.32 0.00 Purchase 10/15/2020 31846V203 63,123.72 First American Govt Obligation Fund Class Y 1.000 0.01%63,123.72 0.00 63,123.72 0.00 Purchase 10/15/2020 31846V203 8,619.07 First American Govt Obligation Fund Class Y 1.000 0.01%8,619.07 0.00 8,619.07 0.00 Purchase 10/15/2020 31846V203 26,024.01 First American Govt Obligation Fund Class Y 1.000 0.01%26,024.01 0.00 26,024.01 0.00 Purchase 10/15/2020 31846V203 77,560.23 First American Govt Obligation Fund Class Y 1.000 0.01%77,560.23 0.00 77,560.23 0.00 Purchase 10/15/2020 31846V203 82,669.57 First American Govt Obligation Fund Class Y 1.000 0.01%82,669.57 0.00 82,669.57 0.00 Purchase 10/15/2020 31846V203 75,781.70 First American Govt Obligation Fund Class Y 1.000 0.01%75,781.70 0.00 75,781.70 0.00 Purchase 10/15/2020 31846V203 90,372.06 First American Govt Obligation Fund Class Y 1.000 0.01%90,372.06 0.00 90,372.06 0.00 Purchase 10/15/2020 31846V203 94,446.50 First American Govt Obligation Fund Class Y 1.000 0.01%94,446.50 0.00 94,446.50 0.00 Execution Time: 11/10/2020 9:43:48 AMChandler Asset Management - CONFIDENTIAL Page 11 Attachment 2 94 Transaction Ledger As of October 31, 2020 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 10/15/2020 90LAIF$00 120,058.01 Local Agency Investment Fund State Pool 1.000 0.66%120,058.01 0.00 120,058.01 0.00 Purchase 10/19/2020 31846V203 22,720.52 First American Govt Obligation Fund Class Y 1.000 0.01%22,720.52 0.00 22,720.52 0.00 Purchase 10/19/2020 31846V203 218.71 First American Govt Obligation Fund Class Y 1.000 0.01%218.71 0.00 218.71 0.00 Purchase 10/19/2020 31846V203 39,570.61 First American Govt Obligation Fund Class Y 1.000 0.01%39,570.61 0.00 39,570.61 0.00 Purchase 10/19/2020 31846V203 123,591.17 First American Govt Obligation Fund Class Y 1.000 0.01%123,591.17 0.00 123,591.17 0.00 Purchase 10/19/2020 91282CAM3 2,500,000.00 US Treasury Note 0.25% Due 9/30/2025 99.656 0.32%2,491,406.25 326.24 2,491,732.49 0.00 Purchase 10/21/2020 31846V203 79,567.58 First American Govt Obligation Fund Class Y 1.000 0.01%79,567.58 0.00 79,567.58 0.00 Purchase 10/22/2020 31846V203 1,511,110.00 First American Govt Obligation Fund Class Y 1.000 0.01%1,511,110.00 0.00 1,511,110.00 0.00 Purchase 10/22/2020 31846V203 12,713.56 First American Govt Obligation Fund Class Y 1.000 0.01%12,713.56 0.00 12,713.56 0.00 Purchase 10/28/2020 459058JL8 2,400,000.00 Intl. Bank Recon & Development Note 0.5% Due 10/28/2025 99.887 0.52%2,397,288.00 0.00 2,397,288.00 0.00 Purchase 10/29/2020 31846V203 2,012,944.59 First American Govt Obligation Fund Class Y 1.000 0.01%2,012,944.59 0.00 2,012,944.59 0.00 Purchase 10/30/2020 00440EAS6 2,000,000.00 Chubb INA Holdings Inc Note 3.15% Due 3/15/2025 110.187 0.78%2,203,740.00 7,875.00 2,211,615.00 0.00 Purchase 10/30/2020 31846V203 24,062.50 First American Govt Obligation Fund Class Y 1.000 0.01%24,062.50 0.00 24,062.50 0.00 Purchase 10/31/2020 31846V203 16,875.00 First American Govt Obligation Fund Class Y 1.000 0.01%16,875.00 0.00 16,875.00 0.00 Purchase 10/31/2020 90CAMP$00 6,179.67 California Asset Mgmt Program CAMP 1.000 0.19%6,179.67 0.00 6,179.67 0.00 Subtotal 11,560,645.87 11,753,080.12 8,201.24 11,761,281.36 0.00 Security Contribution 10/09/2020 90CAMP$00 2,800,000.00 California Asset Mgmt Program CAMP 1.000 2,800,000.00 0.00 2,800,000.00 0.00 Execution Time: 11/10/2020 9:43:48 AMChandler Asset Management - CONFIDENTIAL Page 12 95 Transaction Ledger As of October 31, 2020 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 10/30/2020 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 4,800,000.00 4,800,000.00 0.00 4,800,000.00 0.00 TOTAL ACQUISITIONS 16,360,645.87 16,553,080.12 8,201.24 16,561,281.36 0.00 DISPOSITIONS Sale 10/19/2020 912828N89 1,000,000.00 US Treasury Note 1.375% Due 1/31/2021 100.355 1.49%1,003,554.69 2,989.13 1,006,543.82 3,880.50 Sale 10/19/2020 912828P87 1,500,000.00 US Treasury Note 1.125% Due 2/28/2021 100.375 2.54%1,505,625.00 2,284.19 1,507,909.19 13,046.08 Sale 10/22/2020 3135G0F73 1,500,000.00 FNMA Note 1.5% Due 11/30/2020 100.149 1.87%1,502,235.00 8,875.00 1,511,110.00 2,803.93 Sale 10/28/2020 31846V203 2,397,288.00 First American Govt Obligation Fund Class Y 1.000 0.01%2,397,288.00 0.00 2,397,288.00 0.00 Sale 10/29/2020 912828P87 1,500,000.00 US Treasury Note 1.125% Due 2/28/2021 100.344 2.54%1,505,156.25 2,750.35 1,507,906.60 12,015.13 Sale 10/29/2020 912828T34 500,000.00 US Treasury Note 1.125% Due 9/30/2021 100.918 1.69%504,589.84 448.15 505,037.99 6,926.38 Sale 10/30/2020 31846V203 2,211,615.00 First American Govt Obligation Fund Class Y 1.000 0.01%2,211,615.00 0.00 2,211,615.00 0.00 Subtotal 10,608,903.00 10,630,063.78 17,346.82 10,647,410.60 38,672.02 Paydown 10/15/2020 43815NAB0 107,549.91 Honda Auto Receivables Trust 2019-3 A2 1.9% Due 4/15/2022 100.000 107,549.91 1,272.41 108,822.32 0.00 Paydown 10/15/2020 477870AB5 62,318.52 John Deere Owner Trust 2019-B A2 2.28% Due 5/16/2022 100.000 62,318.52 805.20 63,123.72 0.00 Execution Time: 11/10/2020 9:43:48 AMChandler Asset Management - CONFIDENTIAL Page 13 96 Transaction Ledger As of October 31, 2020 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss DISPOSITIONS Paydown 10/15/2020 47787NAC3 0.00 John Deere Owner Trust 2020-B A3 0.51% Due 11/15/2024 100.000 0.00 218.88 218.88 0.00 Paydown 10/15/2020 47788BAD6 8,605.19 John Deere Owner Trust 2017-B A3 1.82% Due 10/15/2021 100.000 8,605.19 13.88 8,619.07 0.00 Paydown 10/15/2020 47788CAC6 25,690.33 John Deere Owner Trust 2018-A A3 2.66% Due 4/18/2022 100.000 25,690.33 333.68 26,024.01 0.00 Paydown 10/15/2020 47788EAC2 75,010.68 John Deere Owner Trust 2018-B A3 3.08% Due 11/15/2022 100.000 75,010.68 2,549.55 77,560.23 0.00 Paydown 10/15/2020 47789JAB2 82,301.49 John Deere Owner Trust 2019-A A2 2.85% Due 12/15/2021 100.000 82,301.49 368.08 82,669.57 0.00 Paydown 10/15/2020 65479GAD1 73,295.07 Nissan Auto Receivables Trust 2018-B A3 3.06% Due 3/15/2023 100.000 73,295.07 2,486.63 75,781.70 0.00 Paydown 10/15/2020 65479JAD5 0.00 Nissan Auto Receivables Owner 2019-C A3 1.93% Due 7/15/2024 100.000 0.00 2,541.17 2,541.17 0.00 Paydown 10/15/2020 89231PAD0 86,397.06 Toyota Auto Receivables Trust 2018-D A3 3.18% Due 3/15/2023 100.000 86,397.06 3,975.00 90,372.06 0.00 Paydown 10/15/2020 89237VAB5 0.00 Toyota Auto Receivables Trust 2020-C A3 0.44% Due 10/15/2024 100.000 0.00 375.83 375.83 0.00 Paydown 10/15/2020 89239AAB9 94,071.18 Toyota Auto Receivables Trust 2019-A A2A 2.83% Due 10/15/2021 100.000 94,071.18 375.32 94,446.50 0.00 Paydown 10/19/2020 43813KAC6 0.00 Honda Auto Receivables Trust 2020-3 A3 0.37% Due 10/18/2024 100.000 0.00 218.71 218.71 0.00 Paydown 10/19/2020 43814UAG4 38,731.61 Honda Auto Receivables Trust 2018-2 A3 3.01% Due 5/18/2022 100.000 38,731.61 839.00 39,570.61 0.00 Paydown 10/19/2020 43814WAB1 122,992.22 Honda Auto Receivables Trust 2019-1 A2 2.75% Due 9/20/2021 100.000 122,992.22 598.95 123,591.17 0.00 Execution Time: 11/10/2020 9:43:48 AMChandler Asset Management - CONFIDENTIAL Page 14 97 Transaction Ledger As of October 31, 2020 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss DISPOSITIONS Paydown 10/21/2020 43815HAC1 77,507.90 Honda Auto Receivables Trust 2018-3 A3 2.95% Due 8/22/2022 100.000 77,507.90 2,059.68 79,567.58 0.00 Subtotal 854,471.16 854,471.16 19,031.97 873,503.13 0.00 Security Withdrawal 10/02/2020 90CAMP$00 1,200,000.00 California Asset Mgmt Program CAMP 1.000 1,200,000.00 0.00 1,200,000.00 0.00 Security Withdrawal 10/23/2020 90CAMP$00 500,000.00 California Asset Mgmt Program CAMP 1.000 500,000.00 0.00 500,000.00 0.00 Security Withdrawal 10/26/2020 31846V203 104.17 First American Govt Obligation Fund Class Y 1.000 104.17 0.00 104.17 0.00 Subtotal 1,700,104.17 1,700,104.17 0.00 1,700,104.17 0.00 TOTAL DISPOSITIONS 13,163,478.33 13,184,639.11 36,378.79 13,221,017.90 38,672.02 OTHER TRANSACTIONS Interest 10/05/2020 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 10/07/2020 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 10/15/2020 3135G0W66 2,000,000.00 FNMA Note 1.625% Due 10/15/2024 0.000 16,250.00 0.00 16,250.00 0.00 Interest 10/22/2020 3135G03U5 1,825,000.00 FNMA Note 0.625% Due 4/22/2025 0.000 5,639.76 0.00 5,639.76 0.00 Interest 10/22/2020 459058JB0 2,260,000.00 Intl. Bank Recon & Development Note 0.625% Due 4/22/2025 0.000 7,073.80 0.00 7,073.80 0.00 Interest 10/30/2020 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 Interest 10/31/2020 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 Execution Time: 11/10/2020 9:43:48 AMChandler Asset Management - CONFIDENTIAL Page 15 98 Transaction Ledger As of October 31, 2020 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss OTHER TRANSACTIONS Interest 10/31/2020 912828ZL7 4,000,000.00 US Treasury Note 0.375% Due 4/30/2025 0.000 7,500.00 0.00 7,500.00 0.00 Subtotal 19,085,000.00 114,119.81 0.00 114,119.81 0.00 Dividend 10/02/2020 31846V203 287,330.07 First American Govt Obligation Fund Class Y 0.000 10.14 0.00 10.14 0.00 Dividend 10/15/2020 90LAIF$00 4,604,022,514.54 Local Agency Investment Fund State Pool 0.000 120,058.01 0.00 120,058.01 0.00 Dividend 10/31/2020 90CAMP$00 40,990,431.78 California Asset Mgmt Program CAMP 0.000 6,179.67 0.00 6,179.67 0.00 Subtotal 4,645,300,276.39 126,247.82 0.00 126,247.82 0.00 TOTAL OTHER TRANSACTIONS 4,664,385,276.39 240,367.63 0.00 240,367.63 0.00 Execution Time: 11/10/2020 9:43:48 AMChandler Asset Management - CONFIDENTIAL Page 16 99 Transaction Ledger As of November 30, 2020 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 11/02/2020 31846V203 5.19 First American Govt Obligation Fund Class Y 1.000 0.01%5.19 0.00 5.19 0.00 Purchase 11/03/2020 31846V203 2,000,000.00 First American Govt Obligation Fund Class Y 1.000 0.01%2,000,000.00 0.00 2,000,000.00 0.00 Purchase 11/03/2020 31846V203 23,000.00 First American Govt Obligation Fund Class Y 1.000 0.01%23,000.00 0.00 23,000.00 0.00 Purchase 11/10/2020 31846V203 1,010,095.30 First American Govt Obligation Fund Class Y 1.000 0.01%1,010,095.30 0.00 1,010,095.30 0.00 Purchase 11/11/2020 31846V203 59,700.00 First American Govt Obligation Fund Class Y 1.000 0.01%59,700.00 0.00 59,700.00 0.00 Purchase 11/12/2020 3135G06G3 2,860,000.00 FNMA Note 0.5% Due 11/7/2025 99.642 0.57%2,849,761.20 0.00 2,849,761.20 0.00 Purchase 11/15/2020 31846V203 21,875.00 First American Govt Obligation Fund Class Y 1.000 0.01%21,875.00 0.00 21,875.00 0.00 Purchase 11/16/2020 31846V203 10,500.00 First American Govt Obligation Fund Class Y 1.000 0.01%10,500.00 0.00 10,500.00 0.00 Purchase 11/16/2020 31846V203 2,541.17 First American Govt Obligation Fund Class Y 1.000 0.01%2,541.17 0.00 2,541.17 0.00 Purchase 11/16/2020 31846V203 218.88 First American Govt Obligation Fund Class Y 1.000 0.01%218.88 0.00 218.88 0.00 Purchase 11/16/2020 31846V203 375.83 First American Govt Obligation Fund Class Y 1.000 0.01%375.83 0.00 375.83 0.00 Purchase 11/16/2020 31846V203 106,205.51 First American Govt Obligation Fund Class Y 1.000 0.01%106,205.51 0.00 106,205.51 0.00 Purchase 11/16/2020 31846V203 90,117.60 First American Govt Obligation Fund Class Y 1.000 0.01%90,117.60 0.00 90,117.60 0.00 Purchase 11/16/2020 31846V203 545.38 First American Govt Obligation Fund Class Y 1.000 0.01%545.38 0.00 545.38 0.00 Purchase 11/16/2020 31846V203 40,472.15 First American Govt Obligation Fund Class Y 1.000 0.01%40,472.15 0.00 40,472.15 0.00 Purchase 11/16/2020 31846V203 114,098.90 First American Govt Obligation Fund Class Y 1.000 0.01%114,098.90 0.00 114,098.90 0.00 Execution Time: 12/11/2020 8:35:07 AMChandler Asset Management - CONFIDENTIAL Page 10 100 Transaction Ledger As of November 30, 2020 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 11/16/2020 31846V203 72,851.60 First American Govt Obligation Fund Class Y 1.000 0.01%72,851.60 0.00 72,851.60 0.00 Purchase 11/16/2020 31846V203 76,234.57 First American Govt Obligation Fund Class Y 1.000 0.01%76,234.57 0.00 76,234.57 0.00 Purchase 11/16/2020 31846V203 111,789.63 First American Govt Obligation Fund Class Y 1.000 0.01%111,789.63 0.00 111,789.63 0.00 Purchase 11/16/2020 31846V203 65,226.40 First American Govt Obligation Fund Class Y 1.000 0.01%65,226.40 0.00 65,226.40 0.00 Purchase 11/18/2020 31846V203 17,110.00 First American Govt Obligation Fund Class Y 1.000 0.01%17,110.00 0.00 17,110.00 0.00 Purchase 11/18/2020 31846V203 345.33 First American Govt Obligation Fund Class Y 1.000 0.01%345.33 0.00 345.33 0.00 Purchase 11/18/2020 31846V203 37,568.68 First American Govt Obligation Fund Class Y 1.000 0.01%37,568.68 0.00 37,568.68 0.00 Purchase 11/18/2020 31846V203 119,467.23 First American Govt Obligation Fund Class Y 1.000 0.01%119,467.23 0.00 119,467.23 0.00 Purchase 11/19/2020 31846V203 17,550.00 First American Govt Obligation Fund Class Y 1.000 0.01%17,550.00 0.00 17,550.00 0.00 Purchase 11/23/2020 31846V203 78,987.68 First American Govt Obligation Fund Class Y 1.000 0.01%78,987.68 0.00 78,987.68 0.00 Purchase 11/30/2020 31846V203 132,187.50 First American Govt Obligation Fund Class Y 1.000 0.01%132,187.50 0.00 132,187.50 0.00 Purchase 11/30/2020 90CAMP$00 4,075.40 California Asset Mgmt Program CAMP 1.000 0.12%4,075.40 0.00 4,075.40 0.00 Subtotal 7,073,144.93 7,062,906.13 0.00 7,062,906.13 0.00 TOTAL ACQUISITIONS 7,073,144.93 7,062,906.13 0.00 7,062,906.13 0.00 Execution Time: 12/11/2020 8:35:07 AMChandler Asset Management - CONFIDENTIAL Page 11 101 Transaction Ledger As of November 30, 2020 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss DISPOSITIONS Sale 11/10/2020 912828T34 1,000,000.00 US Treasury Note 1.125% Due 9/30/2021 100.883 1.69%1,008,828.13 1,267.17 1,010,095.30 13,334.32 Sale 11/12/2020 31846V203 2,849,761.20 First American Govt Obligation Fund Class Y 1.000 0.01%2,849,761.20 0.00 2,849,761.20 0.00 Subtotal 3,849,761.20 3,858,589.33 1,267.17 3,859,856.50 13,334.32 Paydown 11/16/2020 43815NAB0 105,103.39 Honda Auto Receivables Trust 2019-3 A2 1.9% Due 4/15/2022 100.000 105,103.39 1,102.12 106,205.51 0.00 Paydown 11/16/2020 477870AB5 89,430.80 John Deere Owner Trust 2019-B A2 2.28% Due 5/16/2022 100.000 89,430.80 686.80 90,117.60 0.00 Paydown 11/16/2020 47787NAC3 0.00 John Deere Owner Trust 2020-B A3 0.51% Due 11/15/2024 100.000 0.00 218.88 218.88 0.00 Paydown 11/16/2020 47788BAD6 544.55 John Deere Owner Trust 2017-B A3 1.82% Due 10/15/2021 100.000 544.55 0.83 545.38 0.00 Paydown 11/16/2020 47788CAC6 40,195.42 John Deere Owner Trust 2018-A A3 2.66% Due 4/18/2022 100.000 40,195.42 276.73 40,472.15 0.00 Paydown 11/16/2020 47788EAC2 111,741.87 John Deere Owner Trust 2018-B A3 3.08% Due 11/15/2022 100.000 111,741.87 2,357.03 114,098.90 0.00 Paydown 11/16/2020 47789JAB2 72,678.99 John Deere Owner Trust 2019-A A2 2.85% Due 12/15/2021 100.000 72,678.99 172.61 72,851.60 0.00 Paydown 11/16/2020 65479GAD1 73,934.84 Nissan Auto Receivables Trust 2018-B A3 3.06% Due 3/15/2023 100.000 73,934.84 2,299.73 76,234.57 0.00 Paydown 11/16/2020 65479JAD5 0.00 Nissan Auto Receivables Owner 2019-C A3 1.93% Due 7/15/2024 100.000 0.00 2,541.17 2,541.17 0.00 Paydown 11/16/2020 89231PAD0 108,043.58 Toyota Auto Receivables Trust 2018-D A3 3.18% Due 3/15/2023 100.000 108,043.58 3,746.05 111,789.63 0.00 Paydown 11/16/2020 89237VAB5 0.00 Toyota Auto Receivables Trust 2020-C A3 0.44% Due 10/15/2024 100.000 0.00 375.83 375.83 0.00 Execution Time: 12/11/2020 8:35:07 AMChandler Asset Management - CONFIDENTIAL Page 12 102 Transaction Ledger As of November 30, 2020 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 11/16/2020 89239AAB9 65,072.94 Toyota Auto Receivables Trust 2019-A A2A 2.83% Due 10/15/2021 100.000 65,072.94 153.46 65,226.40 0.00 Paydown 11/18/2020 43813KAC6 0.00 Honda Auto Receivables Trust 2020-3 A3 0.37% Due 10/18/2024 100.000 0.00 345.33 345.33 0.00 Paydown 11/18/2020 43814UAG4 36,826.83 Honda Auto Receivables Trust 2018-2 A3 3.01% Due 5/18/2022 100.000 36,826.83 741.85 37,568.68 0.00 Paydown 11/18/2020 43814WAB1 119,150.14 Honda Auto Receivables Trust 2019-1 A2 2.75% Due 9/20/2021 100.000 119,150.14 317.09 119,467.23 0.00 Paydown 11/23/2020 43815HAC1 77,118.54 Honda Auto Receivables Trust 2018-3 A3 2.95% Due 8/22/2022 100.000 77,118.54 1,869.14 78,987.68 0.00 Subtotal 899,841.89 899,841.89 17,204.65 917,046.54 0.00 Maturity 11/03/2020 00440EAT4 2,000,000.00 Chubb INA Holdings Inc Callable Note Cont 10/3/2020 2.3% Due 11/3/2020 100.000 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 Security Withdrawal 11/06/2020 90CAMP$00 5,000,000.00 California Asset Mgmt Program CAMP 1.000 5,000,000.00 0.00 5,000,000.00 0.00 Security Withdrawal 11/25/2020 31846V203 104.17 First American Govt Obligation Fund Class Y 1.000 104.17 0.00 104.17 0.00 Security Withdrawal 11/25/2020 90CAMP$00 1,000,000.00 California Asset Mgmt Program CAMP 1.000 1,000,000.00 0.00 1,000,000.00 0.00 Subtotal 6,000,104.17 6,000,104.17 0.00 6,000,104.17 0.00 TOTAL DISPOSITIONS 12,749,707.26 12,758,535.39 18,471.82 12,777,007.21 13,334.32 Execution Time: 12/11/2020 8:35:07 AMChandler Asset Management - CONFIDENTIAL Page 13 103 Transaction Ledger As of November 30, 2020 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 11/03/2020 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 11/11/2020 037833CU2 3,000,000.00 Apple Inc Callable Note Cont 3/11/2024 2.85% Due 5/11/2024 0.000 42,750.00 0.00 42,750.00 0.00 Interest 11/11/2020 369550BE7 1,130,000.00 General Dynamics Corp Note 3% Due 5/11/2021 0.000 16,950.00 0.00 16,950.00 0.00 Interest 11/15/2020 912828WJ5 1,750,000.00 US Treasury Note 2.5% Due 5/15/2024 0.000 21,875.00 0.00 21,875.00 0.00 Interest 11/16/2020 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 11/18/2020 46625HRL6 500,000.00 JP Morgan Chase Callable Note Cont 3/18/2023 2.7% Due 5/18/2023 0.000 6,750.00 0.00 6,750.00 0.00 Interest 11/18/2020 58933YAF2 740,000.00 Merck & Co Note 2.8% Due 5/18/2023 0.000 10,360.00 0.00 10,360.00 0.00 Interest 11/19/2020 857477AV5 1,800,000.00 State Street Bank Note 1.95% Due 5/19/2021 0.000 17,550.00 0.00 17,550.00 0.00 Interest 11/30/2020 9128283J7 3,000,000.00 US Treasury Note 2.125% Due 11/30/2024 0.000 31,875.00 0.00 31,875.00 0.00 Interest 11/30/2020 912828R69 1,500,000.00 US Treasury Note 1.625% Due 5/31/2023 0.000 12,187.50 0.00 12,187.50 0.00 Interest 11/30/2020 912828U57 5,000,000.00 US Treasury Note 2.125% Due 11/30/2023 0.000 53,125.00 0.00 53,125.00 0.00 Interest 11/30/2020 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 11/30/2020 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 25,420,000.00 281,922.50 0.00 281,922.50 0.00 Dividend 11/02/2020 31846V203 212,731.09 First American Govt Obligation Fund Class Y 0.000 5.19 0.00 5.19 0.00 Execution Time: 12/11/2020 8:35:07 AMChandler Asset Management - CONFIDENTIAL Page 14 104 Transaction Ledger As of November 30, 2020 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss OTHER TRANSACTIONS Dividend 11/30/2020 90CAMP$00 36,996,611.45 California Asset Mgmt Program CAMP 0.000 4,075.40 0.00 4,075.40 0.00 Subtotal 37,209,342.54 4,080.59 0.00 4,080.59 0.00 TOTAL OTHER TRANSACTIONS 62,629,342.54 286,003.09 0.00 286,003.09 0.00 Execution Time: 12/11/2020 8:35:07 AMChandler Asset Management - CONFIDENTIAL Page 15 105 Transaction Ledger As of December 31, 2020 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 12/01/2020 31846V203 18,093.75 First American Govt Obligation Fund Class Y 1.000 0.01%18,093.75 0.00 18,093.75 0.00 Purchase 12/01/2020 31846V203 7.40 First American Govt Obligation Fund Class Y 1.000 0.01%7.40 0.00 7.40 0.00 Purchase 12/08/2020 31846V203 123,050.00 First American Govt Obligation Fund Class Y 1.000 0.01%123,050.00 0.00 123,050.00 0.00 Purchase 12/09/2020 31846V203 24,375.00 First American Govt Obligation Fund Class Y 1.000 0.01%24,375.00 0.00 24,375.00 0.00 Purchase 12/11/2020 31846V203 28,125.00 First American Govt Obligation Fund Class Y 1.000 0.01%28,125.00 0.00 28,125.00 0.00 Purchase 12/14/2020 31846V203 54,553.13 First American Govt Obligation Fund Class Y 1.000 0.01%54,553.13 0.00 54,553.13 0.00 Purchase 12/15/2020 31846V203 2,541.17 First American Govt Obligation Fund Class Y 1.000 0.01%2,541.17 0.00 2,541.17 0.00 Purchase 12/15/2020 31846V203 375.83 First American Govt Obligation Fund Class Y 1.000 0.01%375.83 0.00 375.83 0.00 Purchase 12/15/2020 31846V203 218.88 First American Govt Obligation Fund Class Y 1.000 0.01%218.88 0.00 218.88 0.00 Purchase 12/15/2020 31846V203 95,719.69 First American Govt Obligation Fund Class Y 1.000 0.01%95,719.69 0.00 95,719.69 0.00 Purchase 12/15/2020 31846V203 52,048.92 First American Govt Obligation Fund Class Y 1.000 0.01%52,048.92 0.00 52,048.92 0.00 Purchase 12/15/2020 31846V203 21,111.51 First American Govt Obligation Fund Class Y 1.000 0.01%21,111.51 0.00 21,111.51 0.00 Purchase 12/15/2020 31846V203 74,049.75 First American Govt Obligation Fund Class Y 1.000 0.01%74,049.75 0.00 74,049.75 0.00 Purchase 12/15/2020 31846V203 68,292.16 First American Govt Obligation Fund Class Y 1.000 0.01%68,292.16 0.00 68,292.16 0.00 Purchase 12/15/2020 31846V203 101,439.87 First American Govt Obligation Fund Class Y 1.000 0.01%101,439.87 0.00 101,439.87 0.00 Purchase 12/17/2020 31846V203 8,492.08 First American Govt Obligation Fund Class Y 1.000 0.01%8,492.08 0.00 8,492.08 0.00 Execution Time: 1/11/2021 9:47:04 AMChandler Asset Management - CONFIDENTIAL Page 10 106 Transaction Ledger As of December 31, 2020 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 12/18/2020 31846V203 345.33 First American Govt Obligation Fund Class Y 1.000 0.01%345.33 0.00 345.33 0.00 Purchase 12/18/2020 31846V203 34,482.29 First American Govt Obligation Fund Class Y 1.000 0.01%34,482.29 0.00 34,482.29 0.00 Purchase 12/18/2020 31846V203 19,260.20 First American Govt Obligation Fund Class Y 1.000 0.01%19,260.20 0.00 19,260.20 0.00 Purchase 12/19/2020 31846V203 27,500.00 First American Govt Obligation Fund Class Y 1.000 0.01%27,500.00 0.00 27,500.00 0.00 Purchase 12/21/2020 31846V203 71,124.41 First American Govt Obligation Fund Class Y 1.000 0.01%71,124.41 0.00 71,124.41 0.00 Purchase 12/24/2020 31846V203 29,205.00 First American Govt Obligation Fund Class Y 1.000 0.01%29,205.00 0.00 29,205.00 0.00 Purchase 12/26/2020 31846V203 23,460.00 First American Govt Obligation Fund Class Y 1.000 0.01%23,460.00 0.00 23,460.00 0.00 Purchase 12/27/2020 31846V203 18,000.00 First American Govt Obligation Fund Class Y 1.000 0.01%18,000.00 0.00 18,000.00 0.00 Purchase 12/29/2020 31846V203 2.80 First American Govt Obligation Fund Class Y 1.000 0.01%2.80 0.00 2.80 0.00 Purchase 12/31/2020 31846V203 26,250.00 First American Govt Obligation Fund Class Y 1.000 0.01%26,250.00 0.00 26,250.00 0.00 Purchase 12/31/2020 90CAMP$00 4,407.24 California Asset Mgmt Program CAMP 1.000 0.12%4,407.24 0.00 4,407.24 0.00 Purchase 12/31/2020 91282CBC4 1,000,000.00 US Treasury Note 0.375% Due 12/31/2025 99.992 0.38%999,921.88 0.00 999,921.88 0.00 Subtotal 1,926,531.41 1,926,453.29 0.00 1,926,453.29 0.00 Security Contribution 12/21/2020 90CAMP$00 28,000,000.00 California Asset Mgmt Program CAMP 1.000 28,000,000.00 0.00 28,000,000.00 0.00 Subtotal 28,000,000.00 28,000,000.00 0.00 28,000,000.00 0.00 TOTAL ACQUISITIONS 29,926,531.41 29,926,453.29 0.00 29,926,453.29 0.00 Execution Time: 1/11/2021 9:47:04 AMChandler Asset Management - CONFIDENTIAL Page 11 107 Transaction Ledger As of December 31, 2020 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 12/31/2020 31846V203 999,921.88 First American Govt Obligation Fund Class Y 1.000 0.01%999,921.88 0.00 999,921.88 0.00 Subtotal 999,921.88 999,921.88 0.00 999,921.88 0.00 Paydown 12/15/2020 43815NAB0 94,783.98 Honda Auto Receivables Trust 2019-3 A2 1.9% Due 4/15/2022 100.000 94,783.98 935.71 95,719.69 0.00 Paydown 12/15/2020 477870AB5 51,532.04 John Deere Owner Trust 2019-B A2 2.28% Due 5/16/2022 100.000 51,532.04 516.88 52,048.92 0.00 Paydown 12/15/2020 47787NAC3 0.00 John Deere Owner Trust 2020-B A3 0.51% Due 11/15/2024 100.000 0.00 218.88 218.88 0.00 Paydown 12/15/2020 47788CAC6 20,923.88 John Deere Owner Trust 2018-A A3 2.66% Due 4/18/2022 100.000 20,923.88 187.63 21,111.51 0.00 Paydown 12/15/2020 47788EAC2 71,979.53 John Deere Owner Trust 2018-B A3 3.08% Due 11/15/2022 100.000 71,979.53 2,070.22 74,049.75 0.00 Paydown 12/15/2020 65479GAD1 66,180.97 Nissan Auto Receivables Trust 2018-B A3 3.06% Due 3/15/2023 100.000 66,180.97 2,111.19 68,292.16 0.00 Paydown 12/15/2020 65479JAD5 0.00 Nissan Auto Receivables Owner 2019-C A3 1.93% Due 7/15/2024 100.000 0.00 2,541.17 2,541.17 0.00 Paydown 12/15/2020 89231PAD0 97,980.14 Toyota Auto Receivables Trust 2018-D A3 3.18% Due 3/15/2023 100.000 97,980.14 3,459.73 101,439.87 0.00 Paydown 12/15/2020 89237VAB5 0.00 Toyota Auto Receivables Trust 2020-C A3 0.44% Due 10/15/2024 100.000 0.00 375.83 375.83 0.00 Paydown 12/18/2020 43813KAC6 0.00 Honda Auto Receivables Trust 2020-3 A3 0.37% Due 10/18/2024 100.000 0.00 345.33 345.33 0.00 Paydown 12/18/2020 43814UAG4 33,832.81 Honda Auto Receivables Trust 2018-2 A3 3.01% Due 5/18/2022 100.000 33,832.81 649.48 34,482.29 0.00 Execution Time: 1/11/2021 9:47:04 AMChandler Asset Management - CONFIDENTIAL Page 12 108 Transaction Ledger As of December 31, 2020 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss DISPOSITIONS Paydown 12/18/2020 43814WAB1 19,216.16 Honda Auto Receivables Trust 2019-1 A2 2.75% Due 9/20/2021 100.000 19,216.16 44.04 19,260.20 0.00 Paydown 12/21/2020 43815HAC1 69,444.85 Honda Auto Receivables Trust 2018-3 A3 2.95% Due 8/22/2022 100.000 69,444.85 1,679.56 71,124.41 0.00 Subtotal 525,874.36 525,874.36 15,135.65 541,010.01 0.00 Security Withdrawal 12/11/2020 90CAMP$00 3,400,000.00 California Asset Mgmt Program CAMP 1.000 3,400,000.00 0.00 3,400,000.00 0.00 Security Withdrawal 12/24/2020 31846V203 104.17 First American Govt Obligation Fund Class Y 1.000 104.17 0.00 104.17 0.00 Subtotal 3,400,104.17 3,400,104.17 0.00 3,400,104.17 0.00 TOTAL DISPOSITIONS 4,925,900.41 4,925,900.41 15,135.65 4,941,036.06 0.00 OTHER TRANSACTIONS Interest 12/01/2020 438516CB0 2,500,000.00 Honeywell Intl Callable Note Cont 5/1/2025 1.35% Due 6/1/2025 0.000 18,093.75 0.00 18,093.75 0.00 Interest 12/08/2020 3130A0F70 5,000,000.00 FHLB Note 3.375% Due 12/8/2023 0.000 84,375.00 0.00 84,375.00 0.00 Interest 12/08/2020 69353RFL7 2,210,000.00 PNC Bank Callable Note Cont 5/9/2023 3.5% Due 6/8/2023 0.000 38,675.00 0.00 38,675.00 0.00 Interest 12/09/2020 313383QR5 1,500,000.00 FHLB Note 3.25% Due 6/9/2023 0.000 24,375.00 0.00 24,375.00 0.00 Interest 12/11/2020 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 12/14/2020 3130A1XJ2 3,795,000.00 FHLB Note 2.875% Due 6/14/2024 0.000 54,553.13 0.00 54,553.13 0.00 Interest 12/17/2020 3135G04Z3 3,435,000.00 FNMA Note 0.5% Due 6/17/2025 0.000 8,492.08 0.00 8,492.08 0.00 Execution Time: 1/11/2021 9:47:04 AMChandler Asset Management - CONFIDENTIAL Page 13 109 Transaction Ledger As of December 31, 2020 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss OTHER TRANSACTIONS Interest 12/19/2020 3137EAEN5 2,000,000.00 FHLMC Note 2.75% Due 6/19/2023 0.000 27,500.00 0.00 27,500.00 0.00 Interest 12/24/2020 166764AH3 1,000,000.00 Chevron Corp Callable Note Cont 3/24/2023 3.191% Due 6/24/2023 0.000 15,955.00 0.00 15,955.00 0.00 Interest 12/24/2020 24422ETT6 1,000,000.00 John Deere Capital Corp Note 2.65% Due 6/24/2024 0.000 13,250.00 0.00 13,250.00 0.00 Interest 12/26/2020 931142EK5 1,380,000.00 Wal-Mart Stores Callable Note Cont 5/26/2023 3.4% Due 6/26/2023 0.000 23,460.00 0.00 23,460.00 0.00 Interest 12/27/2020 02665WCZ2 1,500,000.00 American Honda Finance Note 2.4% Due 6/27/2024 0.000 18,000.00 0.00 18,000.00 0.00 Interest 12/31/2020 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 31,320,000.00 381,103.96 0.00 381,103.96 0.00 Dividend 12/01/2020 31846V203 1,590,029.00 First American Govt Obligation Fund Class Y 0.000 7.40 0.00 7.40 0.00 Dividend 12/29/2020 31846V203 2,467,702.45 First American Govt Obligation Fund Class Y 0.000 2.80 0.00 2.80 0.00 Dividend 12/31/2020 90CAMP$00 59,600,686.85 California Asset Mgmt Program CAMP 0.000 4,407.24 0.00 4,407.24 0.00 Subtotal 63,658,418.30 4,417.44 0.00 4,417.44 0.00 TOTAL OTHER TRANSACTIONS 94,978,418.30 385,521.40 0.00 385,521.40 0.00 Execution Time: 1/11/2021 9:47:04 AMChandler Asset Management - 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