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Home My WebLink About4.6 City Treasurer's Informational Report of Investments for the Quarter Ending June 30,STAFF REPORT CITY COUNCIL Page 1 of 5 Agenda Item 4.6 DATE:August 17, 2021 TO:Honorable Mayor and City Councilmembers FROM:Linda Smith, City Manager SUBJECT:City Treasurer's Informational Report of Investments for the Quarter Ending June 30, 2021 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 June 30, 2021 including a monthly transaction ledger. The City’s investment portfolio for this period totaled $332,259,129 (market value) with an average market yield of 0.39%. 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 June 30, 2021. 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 $234,573,108 managed by Chandler Asset Management (Chandler), and $97,686,022 invested by the City in local government pools, the Local Agency Investment Fund (LAIF) and the California Asset Management Program (CAMP). The average market yield of the Chandler portfolio and the local pools was 0.49% and 0.15% respectively. The total investment portfolio balance fluctuates throughout the year due to normal cash flow needs and includes both discretionary and restricted funds. 92 Page 2 of 5 Economic Update Highlights The following are some highlights from the Economic Update included in the Investment Report prepared by Chandler (Attachment 1). The US economy continues to recover and while some pockets of the economy remain dislocated, real gross domestic product (GDP) is approaching pre-pandemic levels. The recovery has been fueled by robust fiscal spending, accommodative monetary policy, and a swift vaccine rollout. These factors are beginning to moderate but should continue to provide tailwinds for the economy in the coming quarters. Vaccinations have slowed down, and infection rates in the US have recently ticked up but remain well below their peak. Some pandemic-related fiscal relief is starting to phase out, but President Biden and a group of bipartisan senators have agreed to an overall framework for a $1-trillion infrastructure plan (including about $579 billion in new federal spending above previously approved levels). Though the details still need to be hashed out and a deal would need full congressional approval, the negotiations signal that more fiscal stimulus is likely on the horizon. Meanwhile, the Federal Reserve continues to signal that it will look past any near-term uptick in inflation to facilitate continued improvement in the labor market. Estimates for US GDP growth remain strong. The current Bloomberg consensus estimate for 2021 and 2022 US GDP growth are 6.6% and 4.1%, respectively. 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. 93 Page 3 of 5 Chart 1: Investments by Type June 30, 2021 and March 31, 2021 The market value of the City's portfolio increased by $10,398,362 from the March 31, 2021 quarter. The quarterly increase results from the normal fluctuations in the timing of incoming revenue, predominantly the receipt of property tax allocations and sales tax revenue, expenditures on Capital Projects, and payments to Alameda County for Police and Fire Services. The City’s portfolio increased $13.4 million from the same quarter the prior year due to the excess of revenues over expenditures trending on an annual basis (shown in Table 1). Overall market yield-to-maturity remained constant at 0.39% (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 US-based corporations for reporting purposes. 94 Page 4 of 5 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). Table 3 reflects the recent quarterly yields for these funds. March 31, 2021 Holdings Market Value Market Value Par Value Book Value Market Value % of Subtotal % of Total Portfolio Book Yield Market Yield Managed by City LAIF 49,900,973 50,268,759 50,323,677 50,323,677 50,323,677 51.5%15.4%0.25%0.25% CAMP 52,556,760 45,517,393 47,323,490 47,323,490 47,323,490 48.5%14.5%0.05%0.05% SUBTOTAL 102,457,734 95,786,151 97,647,167 97,647,167 97,647,167 100.00%29.95%0.15%0.15% Accrued Interest 173,647 51,201 38,855 102,631,381 95,837,352 97,686,022 Managed by Chandler ABS 10,752,557 7,785,198 9,802,706 9,808,527 9,835,052 4.2%3.0%0.97%0.32% Agency 78,621,769 78,831,782 73,570,000 73,925,186 75,581,659 32.4%22.6%1.62%0.41% Money Market 2,018,086 7,546,801 756,163 756,163 756,163 0.3%0.2%0.01%0.01% Negotiable CD 2,500,000 2,500,000 2,499,825 1.1%0.8%0.20%0.21% Supranational 6,913,320 14,391,293 19,060,000 19,013,962 19,043,767 8.2%5.8%1.04%0.65% Corporate 51,557,374 48,771,479 52,170,000 52,693,410 54,161,172 23.2%16.0%2.01%0.66% US Treasury 65,288,940 67,900,673 70,500,000 70,413,534 71,745,729 30.7%21.6%1.60%0.49% SUBTOTAL 215,152,047 225,227,225 228,358,869 229,110,782 233,623,366 100.00%70.05%1.60%0.49% Accrued Interest 1,030,251 796,190 949,741 216,355,946 226,023,415 234,573,108 TOTAL PORTFOLIO 318,813,679 321,860,767 326,006,036 326,757,949 332,259,129 100.00%0.39% 21,442,145 13,445,450 (5,263,094) 10,398,362 June 30, 2021 Change from Prior Year Change from Prior Quarter June 30, 2020 Holdings (Market Value)6/30/20 9/30/20 12/31/20 3/31/21 6/30/21 LAIF/CAMP 102,457,734 87,959,776 109,794,497 95,786,151 97,647,167 ABS 10,752,557 10,967,071 8,651,697 7,785,198 9,835,052 Agency 78,621,769 86,962,937 88,099,396 78,831,782 75,581,659 Money Market 2,018,086 287,330 1,494,033 7,546,801 756,163 Negotiable CD - - - - 2,499,825 Supranational 6,913,320 6,901,940 9,291,429 14,391,293 19,043,767 Corporate 51,557,374 48,948,015 49,090,006 48,771,479 54,161,172 US Treasury 65,288,940 61,909,753 59,632,976 67,900,673 71,745,729 Accrued Interest 1,030,251 923,702 1,069,828 847,391 988,596 TOTAL 318,640,032 304,860,526 327,123,861 321,860,767 332,259,129 YIELD TO MATURITY 0.50%0.34%0.28%0.39%0.39% 95 Page 5 of 5 Table 3: Quarterly Portfolio Yields, Recent 8 Quarters Market Yield LAIF CAMP Chandler 6/30/19 2.41%2.45%1.98% 9/30/19 2.25%2.25%1.81% 12/31/19 2.03%1.77%1.75% 3/31/20 1.74%1.50%0.89% 6/30/20 1.15%0.48%0.36% 9/30/20 0.66%0.25%0.30% 12/31/20 0.52%0.12%0.27% 3/31/21 0.35%0.07%0.46% 6/30/21 0.25%0.05%0.49% STRATEGIC PLAN INITIATIVE: Strategy 2: Explore New City Revenue Streams for Long Term Financial Stability 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 June 30, 2021 2) Transaction Ledger – April through June 2021 96 CHANDLER ASSET MANAGEMENT, INC. | 800.317.4747 | www.chandlerasset.com INVESTMENT REPORT Period Ending June 30, 2021 City of Dublin Attachment 1 97 SECTION 1 Economic Update SECTION 2 Account Profile SECTION 3 Consolidated Information SECTION 4 Portfolio Holdings SECTION 5 Transactions Table of Contents As of June 30, 2021 1 98 SECTION |Section 1 |Economic Update 2 99 Economic Update    The US economy continues to recover and while some pockets of the economy remain dislocated,real gross domestic product (GDP)is approachingpre-pandemic levels.The recovery has been fueled by robust fiscal spending,accommodative monetary policy,and a swift vaccine rollout.These factors are beginning to moderate but should continue to provide tailwinds for the economy in the coming quarters.Vaccinations have slowed down,and infection rates in the US have recently ticked up but remain well below their peak.Some pandemic-related fiscal relief is starting to phase out,but President Biden and a group of bipartisan senators have agreed to an overall framework for a roughly $1 trillion infrastructure plan (including about $579 billion in new federal spending above previously approved levels).Though the details still need to be hashed out and a deal would need full congressional approval,the negotiations signal that more fiscal stimulus is likely on the horizon.Meanwhile,the Federal Reserve continues to signal that itwill look past any near- term uptick in inflation to facilitate continued improvement in the labor market.Estimates for US GDP growth remain strong. The current Bloomberg consensus estimate for 2021 and 2022 US GDP growth are 6.6% and 4.1%, respectively. The Federal Open Market Committee (FOMC)kept monetary policy unchanged at its June meeting.The fed funds target rate remains in the range of 0.0%to 0.25%,and the Fed continues to purchase $80 billion of Treasuries permonth,and $40 billion of agency mortgage-backed securities per month.The Fed has started to discuss the idea of reducing its asset purchases at some point, but that decision remains uncertain.FOMC members’updated economicprojections also suggest that the Fed may start to raise interest rates in 2023,versus the previous estimate of 2024,as the economy may be on track to reach their employment and inflation goals at a faster than expected pace.Overall,monetary policy remains highly accommodative fornow,but the Fed seems to be inching toward a path of policy normalization.We anticipate the Fed will remain on the sidelines over the near-term,but we believe the probability that the Fed will begin tapering its asset purchases during the first half of next year has increased. The yield curve flattened in June.We believe multiple factors influenced Treasury rates in the month, including market technicals,dollar strengthening, uneven global vaccination rates,and a more modest forecast for U.S.infrastructure spending than initially expected. Nevertheless,we believe longer-term rates have room to move higher this year and we believe the Treasury yield curve is poised to steepen in the second half of the year. 3 100 Source: US Department of Labor Source: US Department of Labor Employment Job growth was s tronger than expected in June.U.S.nonfarm payrolls increased by 850,000,versus the consensus forecast of 720,000.May payrolls were also revised up by 24,000 to 583,000.On a trailing 3-month and 6-month basis,payrolls increased by an average of 567,000 and 543,000 per month,respectively,which is indicative of a steady recovery in the labor market.The leisure and hospitality sectors continue to drive the job gains in June and increased by 343,000.Government payrolls also posted a solid increase of 188,000 in June.The labor participation rate was unchanged at 61.6%in June and is 1.7%lower than the pre-pandemic level.The employment-population ratio was also unchanged in the month at 58.0%and is 3.1%below the pre-pandemic level.The unemployment rate ticked higher to 5.9%in June from 5.8% in May and remains well above the pre-pandemic low of 3.5%in February 2020.The U-6 underemployment rate,which includes those who are marginally attached to the labor force and employed part time foreconomic reasons,declined to 9.8%in June from 10.2%in May (versus 7.0% in February 2020).The index of aggregate private weekly payrolls was up 2.8%in June from February 2020,suggesting a solid increase in aggregate wages. -22,000 -18,000 -14,000 -10,000 -6,000 -2,000 2,000 6,000 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% Unemployment Rate Underemployment Rate (U6) Unemployment Rate (U3)Rate (%)4 101 Initial Claims for Unemployment 373 371 416 418 374 388 405 444 478 507 590 566 586 742 3,339 3,484 3,412 3,528 3,517 3,769 3,611 3,738 3,640 3,680 3,653 3,652 3,708 - 1,000 2,000 3,000 4,000 5,000 6,000 In thousandsInitial Jobless Claims Continuing Claims Initial Claims For Unemployment April 02, 2021 -July 02, 2021 In the most recent week,the number of initial jobless claims was 373,000 versus 371,000 in the prior week.The level of continuing unemployment claims (where the data is lagged by one week)declined modestly to 3.339 million versus 3.484 million in the prior week. Although continuing jobless claims have declined significantly from the peak of nearly 25 million last May,they remained above the 2019 (pre- pandemic) average of 1.7 million. Source: US Department of Labor 5 102 Source: US Department of Labor Source: US Department of Commerce Inflation The Consumer Price Index (CPI)was up 5.0%year-over-year in May versus up 4.2%in April.Core CPI (CPI less food and energy)was up 3.8% year-over-year in May,versus up 3.0%inApril.The Personal Consumption Expenditures (PCE)index was up 3.9%year-over-year in May,versus up 3.6%year-over-year inApril.Core PCE was up 3.4%year-over-year in May,versus up 3.1%year-over-year in April.Current inflation readings are running well above the Fed’s longer-run target of around 2.0%.However,the Fed believes that much (if not all)of the recent pricing pressure have been caused by pandemic-related factors (e.g.,base effects and supply chain disruptions).Fed policymakers have reiterated that they believe most of those factors will be temporary. 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 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% 3.5% 4.0% 4.5% 5.0% 5.5% Consumer Price Index (CPI) CPI YOY % Change Core CPI YOY % Change YOY( %) Change6 103 On a year-over-year basis,retail sales were up 28.1%in May versus up 53.4%in April.The year-over-year gains are distorted by the drop-off in spending and activity at the early stage of the pandemic last year.On a month-over-month basis,retail sales declined 1.3%in May,following a 0.9%increase in April.Retail sales have been somewhat uneven on a monthly basis due to the timing of fiscal stimulus and economic reopening.Overall,we believe consumer spending remains healthy and consistent with an ongoing recovery in economic activity.The Consumer Confidence index jumped to 127.3 in June from 120.0 in May,reflecting a strong view of current conditions and a more upbeat outlook. Source: US Department of Commerce Source: The Conference Board -30.0% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% Retail Sales YOY % Change YOY (%) Change80 90 100 110 120 130 140 Index LevelConsumer Confidence Consumer 7 104 Source: The Conference Board Source: Federal Reserve Bank of Chicago Economic Activity The Conference Board’s Leading Economic Index (LEI)increased 1.3%month-over-month in May (in line with expectations),following a 1.3% increase in April.On a year-over-year basis,the LEI was up 14.7%in May against a severe decline in the index during the early stage of the pandemic last year.According to the Conference Board,the index suggests that economic growth will remain strong in the near term. Meanwhile,the Chicago Fed National Activity Index (CFNAI)increased to 0.29 in May from -0.09 inApril.On a 3-month moving average basis, the CFNAI increased to 0.81 in May from 0.17 in April, and it continues to signal above-trend economic 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% Leading Economic Indicators (LEI)MOM ( %) Change8 105 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% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% S&P/Case -Shiller 20 City Composite Home Price Index YOY( %) ChangeTotal housing starts rose 3.6%in May to an annual pace of 1,572,000.Single-family starts rose 4.2%in May while multi-family starts were up 2.4%.On a year-over-year basis,housing starts were up 50.3%in May,due in part to the steep decline in activity during the early stage of the pandemic last year.According to the Case-Shiller 20-City home price index,home prices were up 14.9%year-over-year in April versus up 13.4% year-over-year in March. Low inventory and strong demand continue to put upward pressure on home prices. 9 106 Source: Institute for Supply Management Source: Federal Reserve Manufacturing The Institute for Supply Management (ISM) manufacturing index eased slightly to 60.6 in June from 61.2 in May. The index continues to point to strength in manufacturing,as readings above 50.0 are indicative of expansion in the manufacturing sector. We believe a weaker US dollar has been supportive of the US manufacturing sector during the pandemic, though the dollar index has been creeping higher since the end of May. The Industrial Production index was up 16.3%year-over-year in May,versus up 17.6%in April.The year-over-year rates are distorted by the effects of the pandemic last year.On a month-over-month basis,the Industrial Production index increased 0.8%in May,following a 0.1% increase inApril.Capacity Utilization increased to 75.2%in May from 74.6%in April but remains well below the long-run average of 79.8%.Chip shortages continue to weigh on activity in the manufacturing sector. 40 42 44 46 48 50 52 54 56 58 60 62 64 66 Institute of Supply Management Purchasing Manager Index EXPANDING CONTRACTING -20.0% -15.0% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% Industrial Production YOY( %) Change10 107 Source: US Department of Commerce Source: US Department of Commerce 6/20 9/20 12/20 3/21 -24.0% 25.4% 1.6% 7.4% -8.8% 12.0% 4.4% -0.6% 0.6% -3.2% -1.5% -1.5% 1.2% -0.4% -0.1% 0.9% -0.4% -0.4% -0.1% 0.1% -31.4% 33.4% 4.3% 6.4% Components of GDP Federal Government Expenditures State and Local (Consumption and Gross Investment) Net Exports and Imports Total Gross Private Domestic Investment Personal Consumption Expenditures -35.0% -30.0% -25.0% -20.0% -15.0% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% Gross Domestic Product (GDP) GDP QOQ % Change GDP YOY % Change Gross Domestic Product (GDP) US economic growth accelerated in the first quarter.According to the third estimate,real US gross domestic product (GDP)grew at an annualized rate of 6.4%in the first quarter,following 4.3%growth in the fourth quarter of 2020.Economic growth is believed to have accelerated even further in the second quarter to an annualized rate of 9.2%.The consensus forecast for full year 2021 US gross domestic product growth is 6.6%, following a 3.5% decline in 2020. 11 108 Federal Reserve Source: Federal Reserve Source: Bloomberg Last year,the Fed took a wide range of aggressive actions to help stabilize and provide liquidity to the financial markets.The Fed 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.Last 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 expired at the end of 2020,including the Fed’s corporate credit,asset-backed securities,municipal lending,and Main Street Lending programs.In June 2021,the Fed announced plans to gradually unwind its corporate credit facility and expects to sell the full portfolio by year-end. 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 8,500,000 Federal Reserve Balance Sheet Assets In$ millions12 109 Source: Bloomberg Source: Bloomberg 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% US Treasury Note Yields 2-Year 5-Year 10-Year Yield (%)0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% US Treasury Yield Curve Jun-21 Mar-21 Jun-20 Yield (%)Bond Yields The treasury yield curve is steeper on a year-over-year basis.The 3-month T-bill yield was about nine basis points lower,while the 2-year Treasury yield was about ten basis points higher,and the 10-Year Treasury yield was about 81 basis points higher,year-over-year,as of June month-end.The Fed has signaled plans to keep the front end of the Treasury yield curve anchored near zero until 2023.We believe longer- term rates still have room to move higher this year. 13 110 Section 2|SECTION |Section 2 |Account Profile 14 111 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 June 30, 2021 15 112 Compliance As of June 30, 2021 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. 16 113 Portfolio Characteristics City of Dublin 6/30/2021 3/31/2021 Benchmark*Portfolio Portfolio Average Maturity (yrs)2.66 2.76 2.68 Average Modified Duration 2.59 2.57 2.52 Average Purchase Yield n/a 1.60%1.67% Average Market Yield 0.41%0.49%0.46% Average Quality**AAA AA/Aa1 AA+/Aa1 Total Market Value 234,573,108 226,023,415 *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 June 30, 2021 17 114 City of Dublin Sector Distribution ABS 4.2% Agency 32.4% Corporate 23.2% Money Market Fund 0.3% Supranational 8.1% US Treasury 30.7% Negotiable CD 1.1% June 30, 2021 March 31, 2021 ABS 3.5% Agency 35.0% Corporate 21.7% Money Market Fund 3.3% Supranational 6.4% US Treasury 30.1% As of June 30, 2021 18 115 Issue Name Investment Type % Portfolio Government of United States US Treasury 30.68% Federal National Mortgage Association Agency 13.73% Federal Home Loan Bank Agency 9.86% Federal Home Loan Mortgage Corp Agency 5.89% Intl Bank Recon and Development Supranational 4.36% Inter-American Dev Bank Supranational 3.78% Federal Farm Credit Bank Agency 2.88% JP Morgan Chase & Co Corporate 1.82% Bank of America Corp Corporate 1.64% US Bancorp Corporate 1.61% Royal Bank of Canada Corporate 1.57% Toronto Dominion Holdings Corporate 1.48% Charles Schwab Corp/The Corporate 1.48% Apple Inc Corporate 1.36% Morgan Stanley Corporate 1.29% Chubb Corporation Corporate 1.16% Honda Motor Corporation Corporate 1.13% Honeywell Corp Corporate 1.09% Bank of Nova Scotia Houston Negotiable CD 1.07% Toyota Motor Corp Corporate 1.06% PNC Financial Services Group Corporate 1.00% Deere & Company Corporate 0.91% Nissan ABS ABS 0.85% Berkshire Hathaway Corporate 0.83% Amazon.com Inc Corporate 0.79% Microsoft Corporate 0.79% Toyota ABS ABS 0.72% John Deere ABS ABS 0.64% Wal-Mart Stores Corporate 0.62% Hyundai Auto Lease Securitization ABS 0.60% Honda ABS ABS 0.59% Bank of New York Corporate 0.55% Mercedes-Benz Auto Lease Trust ABS 0.48% ChevronTexaco Corp Corporate 0.45% Merck & Company Corporate 0.33% First American Govt Oblig Fund Money Market Fund 0.32% Hyundai Auot Receivables ABS 0.31% United Health Group Inc Corporate 0.26% TOTAL 100.00% Issuers City of Dublin –Account #10198 As of June 30, 2021 19 116 AAA AA A <A NR 06/30/21 11.8%69.4%15.9%1.3%1.6% 03/31/21 12.1%70.6%15.5%0.0%1.9% Source: S&P Ratings June 30, 2021 vs. March 31, 2021 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% AAA AA A <A NR 6/30/2021 3/31/2021 Quality Distribution City of Dublin As of June 30, 2021 20 117 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 June 30, 2021 0 -0.25 0.25 -0.50 0.50 - 1 1 - 2 2 - 3 3 - 4 4 - 5 5+ Portfolio 3.7% 2.6% 11.1% 18.2% 25.9% 20.4% 18.2% 0.0% Benchmark*0.2% 0.0% 1.6% 34.4% 27.9% 19.0% 16.8% 0.0% *ICE BAML 1-5 Year US Treasury/Agency Index Duration Distribution City of Dublin As of June 30, 2021 21 118 -0.50% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 12 months 2 years 3 years 5 years 10 years Since Inception City of Dublin ICE BAML 1-5 Year 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 0.24%0.19%2.68%3.40%2.02%N/A 1.84% ICE BAML 1-5 Year US Treasury/Agency Index 0.11%-0.25%2.44%3.24%1.77%N/A 1.66% *ICE BAML 1-3 Yr US Treasury/Agency Index to 12/31/2014 Total rate of return: A measure of a portfolio’s performance over time.It is the internal rate of return,which equates the beginning value of the portfolio with the ending value;it includes interest earnings,realized and unrealized gains and losses in the portfolio. Investment Performance City of Dublin As of June 30, 2021 22 119 Portfolio Characteristics City of Dublin Reporting Account 6/30/2021 Portfolio 3/31/2021 Portfolio Average Maturity (yrs)0.00 0.00 Modified Duration 0.00 0.00 Average Purchase Yield 0.15%0.22% Average Market Yield 0.15%0.22% Average Quality*AAA/NR AAA/NR Total Market Value 97,686,022 95,837,352 *Portfolio is S&P and Moody’s, respectively. As of June 30, 2021 23 120 City of Dublin Reporting Account Sector Distribution LAIF 51.6% Local Gov Investment Pool 48.4% June 30, 2021 March 31, 2021 LAIF 52.5% Local Gov Investment Pool 47.5% As of June 30, 2021 24 121 Issue Name Investment Type % Portfolio Local Agency Investment Fund LAIF 51.56% CAMP Local Gov Investment Pool 48.44% TOTAL 100.00% Issuers City of Dublin Reporting Account –Account #10219 As of June 30, 2021 25 122 SECTION |Section 3 |Consolidated Information 26 123 Portfolio Characteristics City of Dublin Consolidated 6/30/2021 3/31/2021 Portfolio Portfolio Average Maturity (yrs)1.95 1.88 Modified Duration 1.81 1.77 Average Purchase Yield 1.17%1.23% Average Market Yield 0.39%0.39% Average Quality*AA+/Aa1 AA+/Aa1 Total Market Value 332,259,129 321,860,767 * Portfolio is S&P and Moody’s respectively. As of June 30, 2021 27 124 City of Dublin Consolidated Sector Distribution ABS 3.0% Agency 22.9% Corporate 16.4% LAIF 15.2% Local Gov Investment Pool 14.2% Money Market Fund 0.2% Supranational 5.7% US Treasury 21.7% Negotiable CD 0.8% June 30, 2021 March 31, 2021 ABS 2.4% Agency 24.6% Corporate 15.2% LAIF 15.6% Local Gov Investment Pool 14.1% Money Market Fund 2.3% Supranational 4.5% US Treasury 21.2% As of June 30, 2021 28 125 SECTION |Section 4 |Portfolio Holdings 29 126 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 43814UAG4 Honda Auto Receivables Trust 2018-2 A3 3.010% Due 05/18/2022 34,710.16 05/22/2018 2.13% 34,709.40 34,709.99 100.20 0.16% 34,779.68 37.73 0.01% 69.69 NR / AAA AAA 0.88 0.07 43815HAC1 Honda Auto Receivables Trust 2018-3 A3 2.950% Due 08/22/2022 225,807.12 08/21/2018 2.57% 225,776.15 225,798.24 100.52 0.30% 226,978.61 185.04 0.10% 1,180.37 Aaa / NR AAA 1.15 0.20 47788EAC2 John Deere Owner Trust 2018-B A3 3.080% Due 11/15/2022 183,676.86 07/18/2018 3.10% 183,662.95 183,672.42 100.51 0.14% 184,621.69 251.43 0.08% 949.27 Aaa / NR AAA 1.38 0.17 65479GAD1 Nissan Auto Receivables Trust 2018-B A3 3.060% Due 03/15/2023 392,379.58 07/17/2018 3.08% 392,366.86 392,377.34 100.79 0.37% 395,491.03 533.64 0.17% 3,113.69 Aaa / AAA NR 1.71 0.29 89231PAD0 Toyota Auto Receivables Trust 2018-D A3 3.180% Due 03/15/2023 646,132.44 08/29/2019 2.09% 659,938.47 652,773.86 101.02 0.07% 652,752.71 913.20 0.28% (21.15) Aaa / AAA NR 1.71 0.33 44891VAC5 Hyundai Auto Lease Trust 2021-B A3 0.330% Due 06/17/2024 1,420,000.00 06/08/2021 0.34% 1,419,787.00 1,419,790.89 99.82 0.43% 1,417,411.34 195.25 0.60% (2,379.55) Aaa / AAA NR 2.97 1.89 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 1,579,946.38 101.24 0.29% 1,599,650.46 1,355.29 0.68% 19,704.08 Aaa / AAA NR 3.04 0.76 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 1,024,938.44 100.24 0.24% 1,027,472.30 200.44 0.44% 2,533.86 Aaa / AAA NR 3.30 1.18 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 1,119,874.99 100.13 0.28% 1,121,440.32 149.64 0.48% 1,565.33 NR / AAA AAA 3.30 1.43 47787NAC3 John Deere Owner Trust 2020-B A3 0.510% Due 11/15/2024 515,000.00 07/14/2020 0.52% 514,921.51 514,942.74 100.25 0.29% 516,277.72 116.73 0.22% 1,334.98 Aaa / NR AAA 3.38 1.13 58769KAD6 Mercedes-Benz Auto Lease Trust 2021-B A3 0.400% Due 11/15/2024 1,135,000.00 06/22/2021 0.40% 1,134,914.31 1,134,914.49 99.95 0.42% 1,134,439.31 25.22 0.48% (475.18) NR / AAA AAA 3.38 2.06 47788UAC6 John Deere Owner Trust 2021-A A3 0.360% Due 09/15/2025 800,000.00 03/02/2021 0.37% 799,846.24 799,859.45 99.87 0.43% 798,964.01 128.00 0.34% (895.44) Aaa / NR AAA 4.21 1.92 44933LAC7 Hyundai Auto Receivables Trust 2021-A A3 0.380% Due 09/15/2025 725,000.00 04/20/2021 0.38% 724,923.73 724,928.12 99.97 0.40% 724,773.08 122.44 0.31% (155.04) NR / AAA AAA 4.21 2.11 TOTAL ABS 9,802,706.16 0.97% 9,815,519.75 9,808,527.35 0.32% 9,835,052.26 4,214.05 4.19% 26,524.91 Aaa / AAA Aaa 3.10 1.33 Agency 3130A8QS5 FHLB Note 1.125% Due 07/14/2021 2,500,000.00 07/25/2016 1.28% 2,481,475.00 2,499,867.24 100.04 0.13% 2,500,970.00 13,046.88 1.07% 1,102.76 Aaa / AA+ AAA 0.04 0.04 3137EAEC9 FHLMC Note 1.125% Due 08/12/2021 3,000,000.00 Various 1.33% 2,971,215.00 2,999,328.34 100.12 0.08% 3,003,639.00 13,031.26 1.29% 4,310.66 Aaa / AA+ AAA 0.12 0.12 As of June 30, 2021 30 127 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 3135G0Q89 FNMA Note 1.375% Due 10/07/2021 2,000,000.00 10/06/2016 1.45% 1,992,924.00 1,999,620.24 100.35 0.08% 2,006,972.00 6,416.67 0.86% 7,351.76 Aaa / AA+ AAA 0.27 0.27 3135G0S38 FNMA Note 2.000% Due 01/05/2022 2,500,000.00 01/30/2017 2.04% 2,495,475.00 2,499,527.39 100.98 0.09% 2,524,507.50 24,444.44 1.09% 24,980.11 Aaa / AA+ AAA 0.52 0.51 313378CR0 FHLB Note 2.250% Due 03/11/2022 2,000,000.00 06/19/2017 1.86% 2,035,280.00 2,005,174.40 101.51 0.09% 2,030,162.00 13,750.00 0.87% 24,987.60 Aaa / AA+ NR 0.70 0.69 3135G0T45 FNMA Note 1.875% Due 04/05/2022 3,250,000.00 05/05/2017 1.99% 3,232,125.00 3,247,228.53 101.37 0.08% 3,294,479.50 14,557.29 1.41% 47,250.97 Aaa / AA+ AAA 0.76 0.76 3135G0T94 FNMA Note 2.375% Due 01/19/2023 2,500,000.00 03/28/2018 2.70% 2,463,675.00 2,488,277.59 103.37 0.20% 2,584,282.50 26,718.75 1.11% 96,004.91 Aaa / AA+ AAA 1.56 1.52 313383QR5 FHLB Note 3.250% Due 06/09/2023 1,500,000.00 08/28/2018 2.87% 1,525,005.00 1,510,145.30 105.78 0.26% 1,586,703.00 2,979.17 0.68% 76,557.70 Aaa / AA+ NR 1.94 1.89 3137EAEN5 FHLMC Note 2.750% Due 06/19/2023 2,000,000.00 07/16/2018 2.88% 1,988,360.00 1,995,351.77 104.91 0.25% 2,098,134.00 1,833.33 0.90% 102,782.23 Aaa / AA+ AAA 1.97 1.93 3135G05G4 FNMA Note 0.250% Due 07/10/2023 2,350,000.00 07/08/2020 0.32% 2,344,947.50 2,346,590.14 99.99 0.26% 2,349,732.10 2,790.63 1.00% 3,141.96 Aaa / AA+ AAA 2.03 2.02 3133EKZK5 FFCB Note 1.600% Due 08/14/2023 4,000,000.00 08/26/2019 1.54% 4,009,000.00 4,004,810.77 102.74 0.31% 4,109,476.00 24,355.56 1.76% 104,665.23 Aaa / AA+ AAA 2.12 2.08 313383YJ4 FHLB Note 3.375% Due 09/08/2023 5,000,000.00 Various 2.90% 5,102,615.00 5,047,781.98 106.58 0.35% 5,328,950.00 52,968.76 2.29% 281,168.02 Aaa / AA+ NR 2.19 2.11 3130A0F70 FHLB Note 3.375% Due 12/08/2023 5,000,000.00 Various 2.73% 5,147,870.00 5,073,266.15 107.34 0.35% 5,367,220.00 10,781.25 2.29% 293,953.85 Aaa / AA+ AAA 2.44 2.36 3135G0V34 FNMA Note 2.500% Due 02/05/2024 2,000,000.00 02/27/2019 2.58% 1,992,340.00 1,995,968.20 105.46 0.38% 2,109,228.00 20,277.78 0.91% 113,259.80 Aaa / AA+ AAA 2.60 2.50 3130A1XJ2 FHLB Note 2.875% Due 06/14/2024 3,795,000.00 Various 1.96% 3,958,639.85 3,891,855.50 106.99 0.49% 4,060,289.48 5,152.24 1.73% 168,433.98 Aaa / AA+ NR 2.96 2.85 3133EKWV4 FFCB Note 1.850% Due 07/26/2024 2,500,000.00 08/13/2019 1.65% 2,524,140.00 2,514,967.33 104.16 0.48% 2,604,007.50 19,913.19 1.12% 89,040.17 Aaa / AA+ AAA 3.07 2.97 3130A2UW4 FHLB Note 2.875% Due 09/13/2024 2,000,000.00 10/10/2019 1.58% 2,122,020.00 2,079,357.09 107.44 0.53% 2,148,800.00 17,250.00 0.92% 69,442.91 Aaa / AA+ AAA 3.21 3.06 3135G0W66 FNMA Note 1.625% Due 10/15/2024 2,000,000.00 11/08/2019 1.80% 1,983,400.00 1,988,908.73 103.59 0.52% 2,071,804.00 6,861.11 0.89% 82,895.27 Aaa / AA+ AAA 3.30 3.20 3135G0X24 FNMA Note 1.625% Due 01/07/2025 4,200,000.00 Various 1.18% 4,287,898.80 4,264,008.38 103.56 0.60% 4,349,633.40 32,987.50 1.87% 85,625.02 Aaa / AA+ AAA 3.53 3.40 3137EAEP0 FHLMC Note 1.500% Due 02/12/2025 4,200,000.00 Various 1.23% 4,254,786.30 4,240,140.34 103.21 0.60% 4,334,727.60 24,325.00 1.86% 94,587.26 Aaa / AA+ AAA 3.62 3.51 As of June 30, 2021 31 128 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 3135G03U5 FNMA Note 0.625% Due 04/22/2025 1,825,000.00 04/22/2020 0.67% 1,821,240.50 1,822,132.97 99.91 0.65% 1,823,404.95 2,186.20 0.78% 1,271.98 Aaa / AA+ AAA 3.81 3.76 3135G04Z3 FNMA Note 0.500% Due 06/17/2025 3,435,000.00 06/17/2020 0.54% 3,427,889.55 3,429,359.20 99.41 0.65% 3,414,774.72 667.92 1.46% (14,584.48) Aaa / AA+ AAA 3.97 3.92 3137EAEU9 FHLMC Note 0.375% Due 07/21/2025 1,745,000.00 07/21/2020 0.48% 1,736,309.90 1,737,944.06 98.63 0.72% 1,721,095.25 2,908.33 0.73% (16,848.81) Aaa / AA+ AAA 4.06 4.01 3135G05X7 FNMA Note 0.375% Due 08/25/2025 2,755,000.00 08/25/2020 0.47% 2,742,106.60 2,744,283.78 98.56 0.73% 2,715,261.88 3,615.94 1.16% (29,021.90) Aaa / AA+ AAA 4.16 4.10 3137EAEX3 FHLMC Note 0.375% Due 09/23/2025 2,655,000.00 09/23/2020 0.44% 2,647,008.45 2,648,230.84 98.47 0.74% 2,614,495.32 2,710.31 1.12% (33,735.52) Aaa / AA+ AAA 4.24 4.18 3135G06G3 FNMA Note 0.500% Due 11/07/2025 2,860,000.00 11/09/2020 0.57% 2,849,761.20 2,851,060.03 98.91 0.75% 2,828,908.94 2,145.00 1.21% (22,151.09) Aaa / AA+ AAA 4.36 4.29 TOTAL Agency 73,570,000.00 1.62% 74,137,507.65 73,925,186.29 0.41% 75,581,658.64 348,674.51 32.37% 1,656,472.35 Aaa / AA+ Aaa 2.49 2.43 Corporate 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 1,849,925.58 100.02 0.49% 1,850,434.76 11,390.35 0.79% 509.18 Aaa / AAA AAA 0.11 0.02 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 1,001,218.30 101.17 0.19% 1,011,669.00 11,447.92 0.44% 10,450.70 A1 / A+ A+ 0.57 0.47 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 1,997,405.93 103.36 0.38% 2,067,270.00 22,966.67 0.89% 69,864.07 A2 / A A 1.57 1.45 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 1,847,574.97 103.77 0.30% 1,935,289.99 15,101.32 0.83% 87,715.02 Aa2 / AA A+ 1.71 1.51 58933YAF2 Merck & Co Note 2.800% Due 05/18/2023 740,000.00 10/26/2018 3.41% 720,996.80 732,151.60 104.67 0.31% 774,589.08 2,474.89 0.33% 42,437.48 A1 / A+ A+ 1.88 1.84 46625HRL6 JP Morgan Chase Callable Note Cont 3/18/2023 2.700% Due 05/18/2023 500,000.00 12/20/2018 3.74% 479,055.00 491,053.38 103.96 0.38% 519,811.00 1,612.50 0.22% 28,757.62 A2 / A- AA- 1.88 1.68 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 2,208,819.23 105.83 0.34% 2,338,909.30 4,941.80 1.00% 130,090.07 A2 / A A+ 1.94 1.81 166764AH3 Chevron Corp Callable Note Cont 3/24/2023 3.191% Due 06/24/2023 1,000,000.00 11/08/2018 3.59% 983,170.00 992,774.29 104.98 0.31% 1,049,812.00 620.47 0.45% 57,037.71 Aa2 / AA- NR 1.98 1.70 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 1,379,857.51 105.98 0.25% 1,462,463.28 651.66 0.62% 82,605.77 Aa2 / AA AA 1.99 1.86 As of June 30, 2021 32 129 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 02665WCJ8 American Honda Finance Note 3.450% Due 07/14/2023 1,000,000.00 Various 3.54% 996,275.00 998,360.50 106.18 0.40% 1,061,781.00 16,004.17 0.46% 63,420.50 A3 / A- NR 2.04 1.96 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 1,200,782.51 106.50 0.36% 1,278,057.60 16,100.00 0.55% 77,275.09 A1 / A AA- 2.12 2.03 06051GHF9 Bank of America Corp Callable Note 1X 3/5/2023 3.550% Due 03/05/2024 2,400,000.00 Various 2.75% 2,434,650.00 2,418,880.73 105.06 0.52% 2,521,468.80 27,453.33 1.09% 102,588.07 A2 / A- AA- 2.68 1.63 89114QCB2 Toronto Dominion Bank Note 3.250% Due 03/11/2024 2,300,000.00 03/26/2019 2.95% 2,331,234.00 2,316,980.25 107.07 0.60% 2,462,513.40 22,840.28 1.06% 145,533.15 Aa3 / A AA- 2.70 2.58 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 3,022,288.75 106.14 0.55% 3,184,071.00 11,875.00 1.36% 161,782.25 Aa1 / AA+ NR 2.87 2.60 023135BW5 Amazon.com Inc Callable Note Cont 11/12/2021 0.450% Due 05/12/2024 1,865,000.00 05/10/2021 0.50% 1,862,277.10 1,862,401.32 99.81 0.52% 1,861,512.45 1,142.31 0.79% (888.87) A1 / AA AA- 2.87 2.84 24422ETT6 John Deere Capital Corp Note 2.650% Due 06/24/2024 2,000,000.00 Various 1.31% 2,093,680.00 2,077,109.25 106.33 0.51% 2,126,520.00 1,030.56 0.91% 49,410.75 A2 / A A 2.99 2.88 02665WCZ2 American Honda Finance Note 2.400% Due 06/27/2024 1,500,000.00 07/10/2019 2.49% 1,493,742.00 1,496,228.62 105.00 0.71% 1,574,989.50 400.00 0.67% 78,760.88 A3 / A- NR 2.99 2.90 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 2,519,673.30 105.46 0.73% 2,636,580.00 29,218.75 1.14% 116,906.70 A2 / A AA 3.05 2.91 46647PAU0 JP Morgan Chase & Co Callable Note 1X 7/23/2023 3.797% Due 07/23/2024 2,500,000.00 09/12/2019 2.10% 2,632,175.00 2,583,392.58 106.54 0.60% 2,663,507.50 41,661.53 1.15% 80,114.92 A2 / A- AA- 3.07 1.97 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 2,606,044.29 104.44 0.75% 2,725,970.13 23,780.00 1.17% 119,925.84 A1 / AA- AA- 3.56 3.33 00440EAS6 Chubb INA Holdings Inc Note 3.150% Due 03/15/2025 2,500,000.00 Various 0.76% 2,753,600.00 2,717,405.82 108.13 0.92% 2,703,242.50 23,187.50 1.16% (14,163.32) A3 / A A 3.71 3.49 61747YEA9 Morgan Stanley Callable Note Cont 5/30/2024 0.790% Due 05/30/2025 3,040,000.00 05/26/2021 0.73% 3,041,611.70 3,041,578.56 99.60 0.93% 3,027,900.80 2,001.34 1.29% (13,677.76) A1 / BBB+ A 3.92 2.87 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 2,547,035.57 101.94 0.84% 2,548,467.50 2,812.50 1.09% 1,431.93 A2 / A A 3.92 3.73 78015K7H1 Royal Bank of Canada Note 1.150% Due 06/10/2025 1,000,000.00 02/22/2021 0.86% 1,012,240.00 1,011,247.99 100.57 1.00% 1,005,712.00 670.83 0.43% (5,535.99) A2 / A AA 3.95 3.85 89114QCK2 Toronto Dominion Bank Note 0.750% Due 09/11/2025 1,000,000.00 02/16/2021 0.81% 997,230.00 997,451.13 99.09 0.97% 990,905.00 2,291.67 0.42% (6,546.13) Aa3 / A AA- 4.20 4.11 06051GHY8 Bank of America Corp Callable Note Cont 2/13/2025 2.015% Due 02/13/2026 1,250,000.00 03/04/2021 1.08% 1,291,725.00 1,289,063.67 103.14 1.13% 1,289,240.00 9,655.21 0.55% 176.33 A2 / A- AA- 4.63 3.47 As of June 30, 2021 33 130 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 46647PBH8 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 03/13/2026 1,000,000.00 04/29/2021 1.20% 1,030,270.00 1,028,941.80 103.28 1.10% 1,032,754.00 6,015.00 0.44% 3,812.20 A2 / A- AA- 4.70 3.55 808513BR5 Charles Schwab Corp Callable Note Cont 4/13/2026 1.150% Due 05/13/2026 1,370,000.00 05/11/2021 1.20% 1,366,821.60 1,366,906.89 100.07 1.13% 1,371,015.17 2,100.67 0.59% 4,108.28 A2 / A A 4.87 4.64 91324PEC2 United Health Group Inc Callable Note Cont 4/15/2026 1.150% Due 05/15/2026 605,000.00 Various 1.08% 606,957.25 606,940.95 100.05 1.14% 605,311.58 811.71 0.26% (1,629.37) A3 / A+ A 4.88 4.64 89236TJK2 Toyota Motor Credit Corp Note 1.125% Due 06/18/2026 2,485,000.00 06/15/2021 1.13% 2,483,906.60 2,483,914.38 99.77 1.17% 2,479,403.78 1,009.53 1.06% (4,510.60) A1 / A+ A+ 4.97 4.81 TOTAL Corporate 52,170,000.00 2.01% 52,804,182.45 52,693,409.65 0.66% 54,161,172.12 313,269.47 23.22% 1,467,762.47 A1 / A+ A+ 2.99 2.65 Money Market Fund 31846V203 First American Govt Obligation Fund Class Y 756,163.00 Various 0.01% 756,163.00 756,163.00 1.00 0.01% 756,163.00 0.00 0.32% 0.00 Aaa / AAA AAA 0.00 0.00 TOTAL Money Market Fund 756,163.00 0.01% 756,163.00 756,163.00 0.01% 756,163.00 0.00 0.32% 0.00 Aaa / AAA Aaa 0.00 0.00 Negotiable CD 06417MQL2 Bank of Nova Scotia Houston Yankee CD 0.200% Due 06/23/2022 2,500,000.00 06/29/2021 0.20% 2,499,999.81 2,499,999.81 99.99 0.21% 2,499,825.00 111.11 1.07% (174.81) P-1 / A-1 F-1+ 0.98 0.98 TOTAL Negotiable CD 2,500,000.00 0.20% 2,499,999.81 2,499,999.81 0.21% 2,499,825.00 111.11 1.07% (174.81) Aaa / AA Aaa 0.98 0.98 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 1,998,693.92 101.04 0.18% 2,020,750.00 17,222.22 0.87% 22,056.08 Aaa / NR AAA 0.58 0.57 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 2,487,842.77 101.88 0.19% 2,547,085.00 13,003.47 1.09% 59,242.23 Aaa / AAA AAA 1.21 1.19 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 2,253,337.37 99.68 0.71% 2,252,700.20 2,707.29 0.96% (637.17) Aaa / AAA NR 3.81 3.75 4581X0DN5 Inter-American Dev Bank Note 0.625% Due 07/15/2025 1,685,000.00 01/13/2021 0.53% 1,692,329.75 1,691,584.28 99.58 0.73% 1,677,995.46 4,856.08 0.72% (13,588.82) Aaa / AAA NR 4.04 3.97 As of June 30, 2021 34 131 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 459058JL8 Intl. Bank Recon & Development Note 0.500% Due 10/28/2025 6,000,000.00 Various 0.55% 5,986,632.00 5,987,806.98 98.81 0.78% 5,928,570.00 5,250.00 2.53% (59,236.98) Aaa / AAA AAA 4.33 4.27 4581X0DV7 Inter-American Dev Bank Note 0.875% Due 04/20/2026 4,615,000.00 04/13/2021 0.97% 4,593,863.30 4,594,696.73 100.04 0.87% 4,616,666.01 7,964.08 1.97% 21,969.28 Aaa / AAA AAA 4.81 4.69 TOTAL Supranational 19,060,000.00 1.04% 18,966,073.85 19,013,962.05 0.65% 19,043,766.67 51,003.14 8.14% 29,804.62 Aaa / AAA Aaa 3.54 3.47 US Treasury 912828U65 US Treasury Note 1.750% Due 11/30/2021 2,000,000.00 12/28/2016 2.06% 1,971,569.20 1,997,595.17 100.70 0.09% 2,013,906.00 2,964.48 0.86% 16,310.83 Aaa / AA+ AAA 0.42 0.42 912828V72 US Treasury Note 1.875% Due 01/31/2022 1,500,000.00 02/27/2017 1.84% 1,502,407.37 1,500,286.53 101.05 0.09% 1,515,703.50 11,731.70 0.65% 15,416.97 Aaa / AA+ AAA 0.59 0.58 912828J76 US Treasury Note 1.750% Due 03/31/2022 3,000,000.00 04/25/2017 1.85% 2,985,830.37 2,997,850.94 101.24 0.10% 3,037,266.00 13,196.72 1.30% 39,415.06 Aaa / AA+ AAA 0.75 0.75 912828WZ9 US Treasury Note 1.750% Due 04/30/2022 2,750,000.00 05/23/2017 1.84% 2,738,944.75 2,748,141.10 101.38 0.10% 2,787,812.50 8,152.32 1.19% 39,671.40 Aaa / AA+ AAA 0.83 0.83 912828XR6 US Treasury Note 1.750% Due 05/31/2022 1,500,000.00 06/28/2017 1.81% 1,496,020.65 1,499,260.38 101.51 0.11% 1,522,617.00 2,223.36 0.65% 23,356.62 Aaa / AA+ AAA 0.92 0.91 912828XW5 US Treasury Note 1.750% Due 06/30/2022 3,000,000.00 07/25/2017 1.86% 2,984,072.55 2,996,779.12 101.64 0.11% 3,049,101.00 142.66 1.30% 52,321.88 Aaa / AA+ AAA 1.00 1.00 912828L24 US Treasury Note 1.875% Due 08/31/2022 2,000,000.00 09/27/2017 1.92% 1,995,944.20 1,999,039.06 102.04 0.13% 2,040,782.00 12,533.97 0.88% 41,742.94 Aaa / AA+ AAA 1.17 1.15 912828L57 US Treasury Note 1.750% Due 09/30/2022 3,750,000.00 Various 2.02% 3,702,841.80 3,737,975.63 102.01 0.14% 3,825,438.75 16,495.90 1.64% 87,463.12 Aaa / AA+ AAA 1.25 1.24 912828M49 US Treasury Note 1.875% Due 10/31/2022 1,000,000.00 01/30/2018 2.47% 973,359.38 992,517.89 102.30 0.15% 1,023,008.00 3,158.97 0.44% 30,490.11 Aaa / AA+ AAA 1.34 1.32 9128284D9 US Treasury Note 2.500% Due 03/31/2023 3,750,000.00 Various 2.75% 3,706,123.05 3,734,475.38 103.98 0.22% 3,899,415.00 23,565.58 1.67% 164,939.62 Aaa / AA+ AAA 1.75 1.71 912828R69 US Treasury Note 1.625% Due 05/31/2023 1,500,000.00 05/30/2018 2.67% 1,427,167.97 1,472,119.61 102.64 0.25% 1,539,550.50 2,064.55 0.66% 67,430.89 Aaa / AA+ AAA 1.92 1.89 912828U57 US Treasury Note 2.125% Due 11/30/2023 5,000,000.00 Various 2.53% 4,908,242.19 4,954,234.72 104.32 0.33% 5,215,820.00 8,999.32 2.23% 261,585.28 Aaa / AA+ AAA 2.42 2.36 912828V80 US Treasury Note 2.250% Due 01/31/2024 5,000,000.00 Various 2.32% 4,983,691.41 4,991,245.27 104.85 0.36% 5,242,385.00 46,926.80 2.25% 251,139.73 Aaa / AA+ AAA 2.59 2.50 912828WJ5 US Treasury Note 2.500% Due 05/15/2024 1,750,000.00 06/10/2019 1.91% 1,798,261.72 1,778,125.86 105.93 0.42% 1,853,838.00 5,587.64 0.79% 75,712.14 Aaa / AA+ AAA 2.88 2.78 As of June 30, 2021 35 132 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 9128282N9 US Treasury Note 2.125% Due 07/31/2024 2,000,000.00 08/30/2019 1.44% 2,064,531.25 2,040,435.27 105.04 0.48% 2,100,782.00 17,727.90 0.90% 60,346.73 Aaa / AA+ AAA 3.09 2.97 912828YH7 US Treasury Note 1.500% Due 09/30/2024 3,500,000.00 Various 1.65% 3,474,941.41 3,483,201.14 103.18 0.51% 3,611,426.00 13,196.72 1.55% 128,224.86 Aaa / AA+ AAA 3.25 3.17 9128283J7 US Treasury Note 2.125% Due 11/30/2024 3,000,000.00 Various 1.76% 3,051,650.40 3,035,588.67 105.34 0.55% 3,160,194.00 5,399.59 1.35% 124,605.33 Aaa / AA+ AAA 3.42 3.30 912828ZC7 US Treasury Note 1.125% Due 02/28/2025 3,500,000.00 03/24/2020 0.52% 3,603,222.66 3,576,686.24 101.85 0.61% 3,564,806.00 13,160.67 1.53% (11,880.24) Aaa / AA+ AAA 3.67 3.58 912828ZL7 US Treasury Note 0.375% Due 04/30/2025 4,000,000.00 Various 0.38% 3,998,593.75 3,998,894.74 98.96 0.65% 3,958,280.00 2,527.18 1.69% (40,614.74) Aaa / AA+ AAA 3.84 3.80 91282CAM3 US Treasury Note 0.250% Due 09/30/2025 2,500,000.00 10/16/2020 0.32% 2,491,406.25 2,492,618.98 97.93 0.75% 2,448,145.00 1,571.04 1.04% (44,473.98) Aaa / AA+ AAA 4.25 4.21 91282CBC4 US Treasury Note 0.375% Due 12/31/2025 1,000,000.00 12/29/2020 0.38% 999,921.88 999,929.67 98.14 0.80% 981,445.00 10.19 0.42% (18,484.67) Aaa / AA+ AAA 4.51 4.45 91282CBH3 US Treasury Note 0.375% Due 01/31/2026 4,000,000.00 02/23/2021 0.58% 3,960,625.00 3,963,400.04 98.04 0.81% 3,921,408.00 6,256.91 1.67% (41,992.04) Aaa / AA+ AAA 4.59 4.52 91282CBQ3 US Treasury Note 0.500% Due 02/28/2026 2,500,000.00 03/26/2021 0.83% 2,459,960.94 2,462,055.36 98.53 0.82% 2,463,182.50 4,177.99 1.05% 1,127.14 Aaa / AA+ AAA 4.67 4.59 91282CBT7 US Treasury Note 0.750% Due 03/31/2026 5,000,000.00 Various 0.85% 4,974,804.69 4,975,993.80 99.60 0.84% 4,979,885.00 9,426.23 2.13% 3,891.20 Aaa / AA+ AAA 4.75 4.65 91282CCF6 US Treasury Note 0.750% Due 05/31/2026 2,000,000.00 06/18/2021 0.91% 1,985,000.00 1,985,083.10 99.48 0.86% 1,989,532.00 1,270.49 0.85% 4,448.90 Aaa / AA+ AAA 4.92 4.81 TOTAL US Treasury 70,500,000.00 1.57% 70,239,134.84 70,413,533.67 0.43% 71,745,728.75 232,468.88 30.68% 1,332,195.08 Aaa / AA+ Aaa 2.73 2.67 TOTAL PORTFOLIO 228,358,869.16 1.60% 229,218,581.35 229,110,781.82 0.49% 233,623,366.44 949,741.16 100.00% 4,512,584.62 Aa1 / AA Aaa 2.76 2.57 TOTAL MARKET VALUE PLUS ACCRUALS 234,573,107.60 As of June 30, 2021 36 133 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 50,323,676.61 Various 0.25% 50,323,676.61 50,323,676.61 1.00 0.25% 50,323,676.61 38,855.16 51.56% 0.00 NR / NR NR 0.00 0.00 TOTAL LAIF 50,323,676.61 0.25% 50,323,676.61 50,323,676.61 0.25% 50,323,676.61 38,855.16 51.56% 0.00 NR / NR NR 0.00 0.00 Local Gov Investment Pool 90CAMP$00 California Asset Mgmt Program CAMP 47,323,490.11 Various 0.05% 47,323,490.11 47,323,490.11 1.00 0.05% 47,323,490.11 0.00 48.44% 0.00 NR / AAA NR 0.00 0.00 TOTAL Local Gov Investment Pool 47,323,490.11 0.05% 47,323,490.11 47,323,490.11 0.05% 47,323,490.11 0.00 48.44% 0.00 NR / AAA NR 0.00 0.00 TOTAL PORTFOLIO 97,647,166.72 0.15% 97,647,166.72 97,647,166.72 0.15% 97,647,166.72 38,855.16 100.00% 0.00 NR / AAA NR 0.00 0.00 TOTAL MARKET VALUE PLUS ACCRUALS 97,686,021.88 As of June 30, 2021 37 134 SECTION |Section 5 |Transactions 38 135 Transaction Ledger City of Dublin -Account #10198 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 04/20/2021 4581X0DV7 4,615,000.00 Inter-American Dev Bank Note 0.875% Due: 04/20/2026 99.542 0.97%4,593,863.30 0.00 4,593,863.30 0.00 Purchase 04/28/2021 44933LAC7 725,000.00 Hyundai Auto Receivables Trust 2021-A A3 0.38% Due: 09/15/2025 99.989 0.38%724,923.73 0.00 724,923.73 0.00 Purchase 04/30/2021 46647PBH8 1,000,000.00 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due: 03/13/2026 103.027 1.20%1,030,270.00 2,617.64 1,032,887.64 0.00 Purchase 05/12/2021 023135BW5 1,865,000.00 Amazon.com Inc Callable Note Cont 11/12/2021 0.45% Due: 05/12/2024 99.854 0.50%1,862,277.10 0.00 1,862,277.10 0.00 Purchase 05/13/2021 808513BR5 1,370,000.00 Charles Schwab Corp Callable Note Cont 4/13/2026 1.15% Due: 05/13/2026 99.768 1.20%1,366,821.60 0.00 1,366,821.60 0.00 Purchase 05/28/2021 91282CBT7 2,000,000.00 US Treasury Note 0.75% Due: 03/31/2026 99.871 0.78%1,997,421.88 2,377.05 1,999,798.93 0.00 Purchase 06/01/2021 61747YEA9 1,620,000.00 Morgan Stanley Callable Note Cont 5/30/2024 0.79% Due: 05/30/2025 100.000 0.74%1,620,000.00 0.00 1,620,000.00 0.00 Purchase 06/01/2021 61747YEA9 710,000.00 Morgan Stanley Callable Note Cont 5/30/2024 0.79% Due: 05/30/2025 100.109 0.71%710,773.90 0.00 710,773.90 0.00 Purchase 06/01/2021 61747YEA9 710,000.00 Morgan Stanley Callable Note Cont 5/30/2024 0.79% Due: 05/30/2025 100.118 0.71%710,837.80 0.00 710,837.80 0.00 Purchase 06/16/2021 44891VAC5 1,420,000.00 Hyundai Auto Lease Trust 2021-B A3 0.33% Due: 06/17/2024 99.985 0.34%1,419,787.00 0.00 1,419,787.00 0.00 Purchase 06/16/2021 91324PEC2 400,000.00 United Health Group Inc Callable Note Cont 4/15/2026 1.15% Due: 05/15/2026 100.333 1.08%401,332.00 345.00 401,677.00 0.00 Purchase 06/17/2021 91324PEC2 205,000.00 United Health Group Inc Callable Note Cont 4/15/2026 1.15% Due: 05/15/2026 100.305 1.08%205,625.25 183.36 205,808.61 0.00 Purchase 06/18/2021 89236TJK2 2,485,000.00 Toyota Motor Credit Corp Note 1.125% Due: 06/18/2026 99.956 1.13%2,483,906.60 0.00 2,483,906.60 0.00 March 31, 2021 through June 30, 2021 As of June 30, 2021 39 136 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 Purchase 06/21/2021 91282CCF6 2,000,000.00 US Treasury Note 0.75% Due: 05/31/2026 99.250 0.91%1,985,000.00 860.66 1,985,860.66 0.00 Purchase 06/29/2021 58769KAD6 1,135,000.00 Mercedes-Benz Auto Lease Trust 2021-B A3 0.4% Due: 11/15/2024 99.992 0.40%1,134,914.31 0.00 1,134,914.31 0.00 Purchase 06/30/2021 06417MQL2 2,500,000.00 Bank of Nova Scotia Houston Yankee CD 0.2% Due: 06/23/2022 100.000 0.20%2,499,999.81 97.22 2,500,097.03 0.00 Subtotal 24,760,000.00 24,747,754.28 6,480.93 24,754,235.21 0.00 TOTAL ACQUISITIONS 24,760,000.00 24,747,754.28 6,480.93 24,754,235.21 0.00 DISPOSITIONS Sale 04/16/2021 68389XBK0 1,000,000.00 Oracle Corp Callable Note Cont 8/15/2021 1.9% Due: 09/15/2021 100.539 3.08%1,005,390.00 1,636.11 1,007,026.11 10,040.63 Subtotal 1,000,000.00 1,005,390.00 1,636.11 1,007,026.11 10,040.63 Maturity 05/11/2021 369550BE7 1,130,000.00 General Dynamics Corp Note 3% Due: 05/11/2021 100.000 1,130,000.00 0.00 1,130,000.00 0.00 Maturity 05/16/2021 166764BG4 1,000,000.00 Chevron Corp Callable Note Cont 4/15/2021 2.1% Due: 05/16/2021 100.000 1,000,000.00 0.00 1,000,000.00 0.00 Maturity 05/19/2021 857477AV5 1,800,000.00 State Street Bank Note 1.95% Due: 05/19/2021 100.000 1,800,000.00 0.00 1,800,000.00 0.00 Maturity 06/11/2021 313379RB7 3,000,000.00 FHLB Note 1.875% Due: 06/11/2021 100.000 3,000,000.00 0.00 3,000,000.00 0.00 Subtotal 6,930,000.00 6,930,000.00 0.00 6,930,000.00 0.00 TOTAL DISPOSITIONS 7,930,000.00 7,935,390.00 1,636.11 7,937,026.11 10,040.63 March 31, 2021 through June 30, 2021 As of June 30, 2021 40 137 Transaction Ledger City of Dublin Reporting Account -Account #10219 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 04/15/2021 90LAIF$00 54,918.10 Local Agency Investment Fund State Pool 1.000 0.35%54,918.10 0.00 54,918.10 0.00 Purchase 04/30/2021 90CAMP$00 2,097.01 California Asset Mgmt Program CAMP 1.000 0.07%2,097.01 0.00 2,097.01 0.00 Purchase 05/31/2021 90CAMP$00 2,102.19 California Asset Mgmt Program CAMP 1.000 0.05%2,102.19 0.00 2,102.19 0.00 Purchase 06/30/2021 90CAMP$00 1,897.98 California Asset Mgmt Program CAMP 1.000 0.05%1,897.98 0.00 1,897.98 0.00 Subtotal 61,015.28 61,015.28 0.00 61,015.28 0.00 Security Contribution 04/21/2021 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 Contribution 06/01/2021 90CAMP$00 3,600,000.00 California Asset Mgmt Program CAMP 1.000 3,600,000.00 0.00 3,600,000.00 0.00 Security Contribution 06/21/2021 90CAMP$00 2,300,000.00 California Asset Mgmt Program CAMP 1.000 2,300,000.00 0.00 2,300,000.00 0.00 Subtotal 10,900,000.00 10,900,000.00 0.00 10,900,000.00 0.00 TOTAL ACQUISITIONS 10,961,015.28 10,961,015.28 0.00 10,961,015.28 0.00 DISPOSITIONS Security Withdrawal 04/12/2021 90CAMP$00 1,500,000.00 California Asset Mgmt Program CAMP 1.000 1,500,000.00 0.00 1,500,000.00 0.00 Security Withdrawal 05/05/2021 90CAMP$00 2,500,000.00 California Asset Mgmt Program CAMP 1.000 2,500,000.00 0.00 2,500,000.00 0.00 Security Withdrawal 05/14/2021 90CAMP$00 500,000.00 California Asset Mgmt Program CAMP 1.000 500,000.00 0.00 500,000.00 0.00 Security Withdrawal 05/21/2021 90CAMP$00 2,500,000.00 California Asset Mgmt Program CAMP 1.000 2,500,000.00 0.00 2,500,000.00 0.00 March 31, 2021 through June 30, 2021 As of June 30, 2021 41 138 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 06/04/2021 90CAMP$00 1,700,000.00 California Asset Mgmt Program CAMP 1.000 1,700,000.00 0.00 1,700,000.00 0.00 Security Withdrawal 06/07/2021 90CAMP$00 400,000.00 California Asset Mgmt Program CAMP 1.000 400,000.00 0.00 400,000.00 0.00 Subtotal 9,100,000.00 9,100,000.00 0.00 9,100,000.00 0.00 TOTAL DISPOSITIONS 9,100,000.00 9,100,000.00 0.00 9,100,000.00 0.00 March 31, 2021 through June 30, 2021 As of June 30, 2021 42 139 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 04/15/2021 90LAIF$00 54,918.10 Local Agency Investment Fund State Pool 1.000 0.35%54,918.10 0.00 54,918.10 0.00 Purchase 04/20/2021 4581X0DV7 4,615,000.00 Inter-American Dev Bank Note 0.875% Due: 04/20/2026 99.542 0.97%4,593,863.30 0.00 4,593,863.30 0.00 Purchase 04/28/2021 44933LAC7 725,000.00 Hyundai Auto Receivables Trust 2021-A A3 0.38% Due: 09/15/2025 99.989 0.38%724,923.73 0.00 724,923.73 0.00 Purchase 04/30/2021 46647PBH8 1,000,000.00 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due: 03/13/2026 103.027 1.20%1,030,270.00 2,617.64 1,032,887.64 0.00 Purchase 04/30/2021 90CAMP$00 2,097.01 California Asset Mgmt Program CAMP 1.000 0.07%2,097.01 0.00 2,097.01 0.00 Purchase 05/12/2021 023135BW5 1,865,000.00 Amazon.com Inc Callable Note Cont 11/12/2021 0.45% Due: 05/12/2024 99.854 0.50%1,862,277.10 0.00 1,862,277.10 0.00 Purchase 05/13/2021 808513BR5 1,370,000.00 Charles Schwab Corp Callable Note Cont 4/13/2026 1.15% Due: 05/13/2026 99.768 1.20%1,366,821.60 0.00 1,366,821.60 0.00 Purchase 05/28/2021 91282CBT7 2,000,000.00 US Treasury Note 0.75% Due: 03/31/2026 99.871 0.78%1,997,421.88 2,377.05 1,999,798.93 0.00 Purchase 05/31/2021 90CAMP$00 2,102.19 California Asset Mgmt Program CAMP 1.000 0.05%2,102.19 0.00 2,102.19 0.00 Purchase 06/01/2021 61747YEA9 1,620,000.00 Morgan Stanley Callable Note Cont 5/30/2024 0.79% Due: 05/30/2025 100.000 0.74%1,620,000.00 0.00 1,620,000.00 0.00 Purchase 06/01/2021 61747YEA9 710,000.00 Morgan Stanley Callable Note Cont 5/30/2024 0.79% Due: 05/30/2025 100.109 0.71%710,773.90 0.00 710,773.90 0.00 Purchase 06/01/2021 61747YEA9 710,000.00 Morgan Stanley Callable Note Cont 5/30/2024 0.79% Due: 05/30/2025 100.118 0.71%710,837.80 0.00 710,837.80 0.00 Purchase 06/16/2021 44891VAC5 1,420,000.00 Hyundai Auto Lease Trust 2021-B A3 0.33% Due: 06/17/2024 99.985 0.34%1,419,787.00 0.00 1,419,787.00 0.00 Purchase 06/16/2021 91324PEC2 400,000.00 United Health Group Inc Callable Note Cont 4/15/2026 1.15% Due: 05/15/2026 100.333 1.08%401,332.00 345.00 401,677.00 0.00 Purchase 06/17/2021 91324PEC2 205,000.00 United Health Group Inc Callable Note Cont 4/15/2026 1.15% Due: 05/15/2026 100.305 1.08%205,625.25 183.36 205,808.61 0.00 March 31, 2021 through June 30, 2021 As of June 30, 2021 43 140 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 Purchase 06/18/2021 89236TJK2 2,485,000.00 Toyota Motor Credit Corp Note 1.125% Due: 06/18/2026 99.956 1.13%2,483,906.60 0.00 2,483,906.60 0.00 Purchase 06/21/2021 91282CCF6 2,000,000.00 US Treasury Note 0.75% Due: 05/31/2026 99.250 0.91%1,985,000.00 860.66 1,985,860.66 0.00 Purchase 06/29/2021 58769KAD6 1,135,000.00 Mercedes-Benz Auto Lease Trust 2021-B A3 0.4% Due: 11/15/2024 99.992 0.40%1,134,914.31 0.00 1,134,914.31 0.00 Purchase 06/30/2021 06417MQL2 2,500,000.00 Bank of Nova Scotia Houston Yankee CD 0.2% Due: 06/23/2022 100.000 0.20%2,499,999.81 97.22 2,500,097.03 0.00 Purchase 06/30/2021 90CAMP$00 1,897.98 California Asset Mgmt Program CAMP 1.000 0.05%1,897.98 0.00 1,897.98 0.00 Subtotal 24,821,015.28 24,808,769.56 6,480.93 24,815,250.49 0.00 Security Contribution 04/21/2021 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 Contribution 06/01/2021 90CAMP$00 3,600,000.00 California Asset Mgmt Program CAMP 1.000 3,600,000.00 0.00 3,600,000.00 0.00 Security Contribution 06/21/2021 90CAMP$00 2,300,000.00 California Asset Mgmt Program CAMP 1.000 2,300,000.00 0.00 2,300,000.00 0.00 Subtotal 10,900,000.00 10,900,000.00 0.00 10,900,000.00 0.00 TOTAL ACQUISITIONS 35,721,015.28 35,708,769.56 6,480.93 35,715,250.49 0.00 DISPOSITIONS Sale 04/16/2021 68389XBK0 1,000,000.00 Oracle Corp Callable Note Cont 8/15/2021 1.9% Due: 09/15/2021 100.539 3.08%1,005,390.00 1,636.11 1,007,026.11 10,040.63 Subtotal 1,000,000.00 1,005,390.00 1,636.11 1,007,026.11 10,040.63 March 31, 2021 through June 30, 2021 As of June 30, 2021 44 141 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 Maturity 05/11/2021 369550BE7 1,130,000.00 General Dynamics Corp Note 3% Due: 05/11/2021 100.000 1,130,000.00 0.00 1,130,000.00 0.00 Maturity 05/16/2021 166764BG4 1,000,000.00 Chevron Corp Callable Note Cont 4/15/2021 2.1% Due: 05/16/2021 100.000 1,000,000.00 0.00 1,000,000.00 0.00 Maturity 05/19/2021 857477AV5 1,800,000.00 State Street Bank Note 1.95% Due: 05/19/2021 100.000 1,800,000.00 0.00 1,800,000.00 0.00 Maturity 06/11/2021 313379RB7 3,000,000.00 FHLB Note 1.875% Due: 06/11/2021 100.000 3,000,000.00 0.00 3,000,000.00 0.00 Subtotal 6,930,000.00 6,930,000.00 0.00 6,930,000.00 0.00 Security Withdrawal 04/12/2021 90CAMP$00 1,500,000.00 California Asset Mgmt Program CAMP 1.000 1,500,000.00 0.00 1,500,000.00 0.00 Security Withdrawal 05/05/2021 90CAMP$00 2,500,000.00 California Asset Mgmt Program CAMP 1.000 2,500,000.00 0.00 2,500,000.00 0.00 Security Withdrawal 05/14/2021 90CAMP$00 500,000.00 California Asset Mgmt Program CAMP 1.000 500,000.00 0.00 500,000.00 0.00 Security Withdrawal 05/21/2021 90CAMP$00 2,500,000.00 California Asset Mgmt Program CAMP 1.000 2,500,000.00 0.00 2,500,000.00 0.00 Security Withdrawal 06/04/2021 90CAMP$00 1,700,000.00 California Asset Mgmt Program CAMP 1.000 1,700,000.00 0.00 1,700,000.00 0.00 Security Withdrawal 06/07/2021 90CAMP$00 400,000.00 California Asset Mgmt Program CAMP 1.000 400,000.00 0.00 400,000.00 0.00 Subtotal 9,100,000.00 9,100,000.00 0.00 9,100,000.00 0.00 TOTAL DISPOSITIONS 17,030,000.00 17,035,390.00 1,636.11 17,037,026.11 10,040.63 March 31, 2021 through June 30, 2021 As of June 30, 2021 45 142 Important Disclosures 2021 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 June 30, 2021 46 143 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 June 30, 2021 47 144 Transaction Ledger As of April 30, 2021 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 04/01/2021 31846V203 59.40 First American Govt Obligation Fund Class Y 1.000 0.01%59.40 0.00 59.40 0.00 Purchase 04/05/2021 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 04/07/2021 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 04/15/2021 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 04/15/2021 31846V203 375.83 First American Govt Obligation Fund Class Y 1.000 0.01%375.83 0.00 375.83 0.00 Purchase 04/15/2021 31846V203 218.88 First American Govt Obligation Fund Class Y 1.000 0.01%218.88 0.00 218.88 0.00 Purchase 04/15/2021 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 04/15/2021 31846V203 105,057.75 First American Govt Obligation Fund Class Y 1.000 0.01%105,057.75 0.00 105,057.75 0.00 Purchase 04/15/2021 31846V203 94,214.14 First American Govt Obligation Fund Class Y 1.000 0.01%94,214.14 0.00 94,214.14 0.00 Purchase 04/15/2021 31846V203 70,938.76 First American Govt Obligation Fund Class Y 1.000 0.01%70,938.76 0.00 70,938.76 0.00 Purchase 04/15/2021 31846V203 109,012.87 First American Govt Obligation Fund Class Y 1.000 0.01%109,012.87 0.00 109,012.87 0.00 Purchase 04/15/2021 90LAIF$00 54,918.10 Local Agency Investment Fund State Pool 1.000 0.35%54,918.10 0.00 54,918.10 0.00 Purchase 04/16/2021 31846V203 1,007,026.11 First American Govt Obligation Fund Class Y 1.000 0.01%1,007,026.11 0.00 1,007,026.11 0.00 Purchase 04/19/2021 31846V203 345.33 First American Govt Obligation Fund Class Y 1.000 0.01%345.33 0.00 345.33 0.00 Purchase 04/19/2021 31846V203 34,773.34 First American Govt Obligation Fund Class Y 1.000 0.01%34,773.34 0.00 34,773.34 0.00 Purchase 04/20/2021 4581X0DV7 4,615,000.00 Inter-American Dev Bank Note 0.875% Due 4/20/2026 99.542 0.97%4,593,863.30 0.00 4,593,863.30 0.00 Execution Time: 5/5/2021 11:02:43 AMChandler Asset Management - CONFIDENTIAL Page 11 Attachment 2 145 Transaction Ledger As of April 30, 2021 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 04/21/2021 31846V203 72,573.18 First American Govt Obligation Fund Class Y 1.000 0.01%72,573.18 0.00 72,573.18 0.00 Purchase 04/22/2021 31846V203 12,776.93 First American Govt Obligation Fund Class Y 1.000 0.01%12,776.93 0.00 12,776.93 0.00 Purchase 04/26/2021 31846V203 280.00 First American Govt Obligation Fund Class Y 1.000 0.01%280.00 0.00 280.00 0.00 Purchase 04/28/2021 31846V203 15,000.00 First American Govt Obligation Fund Class Y 1.000 0.01%15,000.00 0.00 15,000.00 0.00 Purchase 04/28/2021 44933LAC7 725,000.00 Hyundai Auto Receivables Trust 2021-A A3 0.38% Due 9/15/2025 99.989 0.38%724,923.73 0.00 724,923.73 0.00 Purchase 04/30/2021 31846V203 40,937.50 First American Govt Obligation Fund Class Y 1.000 0.01%40,937.50 0.00 40,937.50 0.00 Purchase 04/30/2021 46647PBH8 1,000,000.00 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 3/13/2026 103.027 1.20%1,030,270.00 2,617.64 1,032,887.64 0.00 Purchase 04/30/2021 90CAMP$00 2,097.01 California Asset Mgmt Program CAMP 1.000 0.07%2,097.01 0.00 2,097.01 0.00 Subtotal 8,023,615.05 8,032,672.08 2,617.64 8,035,289.72 0.00 Security Contribution 04/21/2021 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 Contribution 04/28/2021 31846V203 8,000,000.00 First American Govt Obligation Fund Class Y 1.000 8,000,000.00 0.00 8,000,000.00 0.00 Subtotal 13,000,000.00 13,000,000.00 0.00 13,000,000.00 0.00 TOTAL ACQUISITIONS 21,023,615.05 21,032,672.08 2,617.64 21,035,289.72 0.00 DISPOSITIONS Sale 04/16/2021 68389XBK0 1,000,000.00 Oracle Corp Callable Note Cont 8/15/2021 1.9% Due 9/15/2021 100.539 3.08%1,005,390.00 1,636.11 1,007,026.11 10,040.63 Sale 04/20/2021 31846V203 4,593,863.30 First American Govt Obligation Fund Class Y 1.000 0.01%4,593,863.30 0.00 4,593,863.30 0.00 Execution Time: 5/5/2021 11:02:43 AMChandler Asset Management - CONFIDENTIAL Page 12 146 Transaction Ledger As of April 30, 2021 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 04/28/2021 31846V203 724,923.73 First American Govt Obligation Fund Class Y 1.000 0.01%724,923.73 0.00 724,923.73 0.00 Sale 04/30/2021 31846V203 1,032,887.64 First American Govt Obligation Fund Class Y 1.000 0.01%1,032,887.64 0.00 1,032,887.64 0.00 Subtotal 7,351,674.67 7,357,064.67 1,636.11 7,358,700.78 10,040.63 Paydown 04/15/2021 43815NAB0 104,720.69 Honda Auto Receivables Trust 2019-3 A2 1.9% Due 4/15/2022 100.000 104,720.69 337.06 105,057.75 0.00 Paydown 04/15/2021 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 04/15/2021 47788EAC2 93,107.54 John Deere Owner Trust 2018-B A3 3.08% Due 11/15/2022 100.000 93,107.54 1,106.60 94,214.14 0.00 Paydown 04/15/2021 65479GAD1 69,461.87 Nissan Auto Receivables Trust 2018-B A3 3.06% Due 3/15/2023 100.000 69,461.87 1,476.89 70,938.76 0.00 Paydown 04/15/2021 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 04/15/2021 89231PAD0 106,558.94 Toyota Auto Receivables Trust 2018-D A3 3.18% Due 3/15/2023 100.000 106,558.94 2,453.93 109,012.87 0.00 Paydown 04/15/2021 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 04/19/2021 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 04/19/2021 43814UAG4 34,456.34 Honda Auto Receivables Trust 2018-2 A3 3.01% Due 5/18/2022 100.000 34,456.34 317.00 34,773.34 0.00 Paydown 04/21/2021 43815HAC1 71,555.60 Honda Auto Receivables Trust 2018-3 A3 2.95% Due 8/22/2022 100.000 71,555.60 1,017.58 72,573.18 0.00 Execution Time: 5/5/2021 11:02:43 AMChandler Asset Management - CONFIDENTIAL Page 13 147 Transaction Ledger As of April 30, 2021 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss DISPOSITIONS Paydown 04/26/2021 47788UAC6 0.00 John Deere Owner Trust 2021-A A3 0.36% Due 9/15/2025 100.000 0.00 280.00 280.00 0.00 Subtotal 479,860.98 479,860.98 10,470.27 490,331.25 0.00 Security Withdrawal 04/12/2021 90CAMP$00 1,500,000.00 California Asset Mgmt Program CAMP 1.000 1,500,000.00 0.00 1,500,000.00 0.00 Security Withdrawal 04/27/2021 31846V203 104.17 First American Govt Obligation Fund Class Y 1.000 104.17 0.00 104.17 0.00 Subtotal 1,500,104.17 1,500,104.17 0.00 1,500,104.17 0.00 TOTAL DISPOSITIONS 9,331,639.82 9,337,029.82 12,106.38 9,349,136.20 10,040.63 OTHER TRANSACTIONS Interest 04/05/2021 3135G0T45 3,250,000.00 FNMA Note 1.875% Due 4/5/2022 0.000 30,468.75 0.00 30,468.75 0.00 Interest 04/07/2021 3135G0Q89 2,000,000.00 FNMA Note 1.375% Due 10/7/2021 0.000 13,750.00 0.00 13,750.00 0.00 Interest 04/15/2021 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 04/22/2021 3135G03U5 1,825,000.00 FNMA Note 0.625% Due 4/22/2025 0.000 5,703.13 0.00 5,703.13 0.00 Interest 04/22/2021 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 04/28/2021 459058JL8 6,000,000.00 Intl. Bank Recon & Development Note 0.5% Due 10/28/2025 0.000 15,000.00 0.00 15,000.00 0.00 Interest 04/30/2021 912828M49 1,000,000.00 US Treasury Note 1.875% Due 10/31/2022 0.000 9,375.00 0.00 9,375.00 0.00 Interest 04/30/2021 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 Execution Time: 5/5/2021 11:02:43 AMChandler Asset Management - CONFIDENTIAL Page 14 148 Transaction Ledger As of April 30, 2021 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss OTHER TRANSACTIONS Interest 04/30/2021 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 25,085,000.00 129,183.18 0.00 129,183.18 0.00 Dividend 04/01/2021 31846V203 7,546,800.68 First American Govt Obligation Fund Class Y 0.000 59.40 0.00 59.40 0.00 Dividend 04/15/2021 90LAIF$00 4,523,077,284.56 Local Agency Investment Fund State Pool 0.000 54,918.10 0.00 54,918.10 0.00 Dividend 04/30/2021 90CAMP$00 49,017,392.93 California Asset Mgmt Program CAMP 0.000 2,097.01 0.00 2,097.01 0.00 Subtotal 4,579,641,478.17 57,074.51 0.00 57,074.51 0.00 TOTAL OTHER TRANSACTIONS 4,604,726,478.17 186,257.69 0.00 186,257.69 0.00 Execution Time: 5/5/2021 11:02:43 AMChandler Asset Management - CONFIDENTIAL Page 15 149 Transaction Ledger As of May 31, 2021 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 05/03/2021 31846V203 36.18 First American Govt Obligation Fund Class Y 1.000 0.01%36.18 0.00 36.18 0.00 Purchase 05/07/2021 31846V203 6,951.39 First American Govt Obligation Fund Class Y 1.000 0.01%6,951.39 0.00 6,951.39 0.00 Purchase 05/11/2021 31846V203 1,130,000.00 First American Govt Obligation Fund Class Y 1.000 0.01%1,130,000.00 0.00 1,130,000.00 0.00 Purchase 05/11/2021 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 05/12/2021 023135BW5 1,865,000.00 Amazon.com Inc Callable Note Cont 11/12/2021 0.45% Due 5/12/2024 99.854 0.50%1,862,277.10 0.00 1,862,277.10 0.00 Purchase 05/13/2021 808513BR5 1,370,000.00 Charles Schwab Corp Callable Note Cont 4/13/2026 1.15% Due 5/13/2026 99.768 1.20%1,366,821.60 0.00 1,366,821.60 0.00 Purchase 05/15/2021 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 05/16/2021 31846V203 1,000,000.00 First American Govt Obligation Fund Class Y 1.000 0.01%1,000,000.00 0.00 1,000,000.00 0.00 Purchase 05/16/2021 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 05/17/2021 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 05/17/2021 31846V203 375.83 First American Govt Obligation Fund Class Y 1.000 0.01%375.83 0.00 375.83 0.00 Purchase 05/17/2021 31846V203 130.10 First American Govt Obligation Fund Class Y 1.000 0.01%130.10 0.00 130.10 0.00 Purchase 05/17/2021 31846V203 218.88 First American Govt Obligation Fund Class Y 1.000 0.01%218.88 0.00 218.88 0.00 Purchase 05/17/2021 31846V203 93,817.84 First American Govt Obligation Fund Class Y 1.000 0.01%93,817.84 0.00 93,817.84 0.00 Purchase 05/17/2021 31846V203 107,602.76 First American Govt Obligation Fund Class Y 1.000 0.01%107,602.76 0.00 107,602.76 0.00 Execution Time: 6/8/2021 11:20:08 AMChandler Asset Management - CONFIDENTIAL Page 10 150 Transaction Ledger As of May 31, 2021 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 05/17/2021 31846V203 62,431.85 First American Govt Obligation Fund Class Y 1.000 0.01%62,431.85 0.00 62,431.85 0.00 Purchase 05/17/2021 31846V203 94,235.90 First American Govt Obligation Fund Class Y 1.000 0.01%94,235.90 0.00 94,235.90 0.00 Purchase 05/18/2021 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 05/18/2021 31846V203 345.33 First American Govt Obligation Fund Class Y 1.000 0.01%345.33 0.00 345.33 0.00 Purchase 05/18/2021 31846V203 29,936.51 First American Govt Obligation Fund Class Y 1.000 0.01%29,936.51 0.00 29,936.51 0.00 Purchase 05/19/2021 31846V203 1,800,000.00 First American Govt Obligation Fund Class Y 1.000 0.01%1,800,000.00 0.00 1,800,000.00 0.00 Purchase 05/19/2021 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 05/21/2021 31846V203 61,124.70 First American Govt Obligation Fund Class Y 1.000 0.01%61,124.70 0.00 61,124.70 0.00 Purchase 05/24/2021 31846V203 240.00 First American Govt Obligation Fund Class Y 1.000 0.01%240.00 0.00 240.00 0.00 Purchase 05/28/2021 91282CBT7 2,000,000.00 US Treasury Note 0.75% Due 3/31/2026 99.871 0.78%1,997,421.88 2,377.05 1,999,798.93 0.00 Purchase 05/31/2021 31846V203 127,812.50 First American Govt Obligation Fund Class Y 1.000 0.01%127,812.50 0.00 127,812.50 0.00 Purchase 05/31/2021 90CAMP$00 2,102.19 California Asset Mgmt Program CAMP 1.000 0.05%2,102.19 0.00 2,102.19 0.00 Subtotal 9,881,638.13 9,873,158.71 2,377.05 9,875,535.76 0.00 TOTAL ACQUISITIONS 9,881,638.13 9,873,158.71 2,377.05 9,875,535.76 0.00 Execution Time: 6/8/2021 11:20:08 AMChandler Asset Management - CONFIDENTIAL Page 11 151 Transaction Ledger As of May 31, 2021 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 05/12/2021 31846V203 1,862,277.10 First American Govt Obligation Fund Class Y 1.000 0.01%1,862,277.10 0.00 1,862,277.10 0.00 Sale 05/13/2021 31846V203 1,366,821.60 First American Govt Obligation Fund Class Y 1.000 0.01%1,366,821.60 0.00 1,366,821.60 0.00 Sale 05/28/2021 31846V203 1,999,798.93 First American Govt Obligation Fund Class Y 1.000 0.01%1,999,798.93 0.00 1,999,798.93 0.00 Subtotal 5,228,897.63 5,228,897.63 0.00 5,228,897.63 0.00 Paydown 05/17/2021 43815NAB0 93,646.59 Honda Auto Receivables Trust 2019-3 A2 1.9% Due 4/15/2022 100.000 93,646.59 171.25 93,817.84 0.00 Paydown 05/17/2021 44933LAC7 0.00 Hyundai Auto Receivables Trust 2021-A A3 0.38% Due 9/15/2025 100.000 0.00 130.10 130.10 0.00 Paydown 05/17/2021 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 05/17/2021 47788EAC2 106,735.14 John Deere Owner Trust 2018-B A3 3.08% Due 11/15/2022 100.000 106,735.14 867.62 107,602.76 0.00 Paydown 05/17/2021 65479GAD1 61,132.09 Nissan Auto Receivables Trust 2018-B A3 3.06% Due 3/15/2023 100.000 61,132.09 1,299.76 62,431.85 0.00 Paydown 05/17/2021 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 05/17/2021 89231PAD0 92,064.35 Toyota Auto Receivables Trust 2018-D A3 3.18% Due 3/15/2023 100.000 92,064.35 2,171.55 94,235.90 0.00 Paydown 05/17/2021 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 05/18/2021 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 Execution Time: 6/8/2021 11:20:08 AMChandler Asset Management - CONFIDENTIAL Page 12 152 Transaction Ledger As of May 31, 2021 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss DISPOSITIONS Paydown 05/18/2021 43814UAG4 29,705.94 Honda Auto Receivables Trust 2018-2 A3 3.01% Due 5/18/2022 100.000 29,705.94 230.57 29,936.51 0.00 Paydown 05/21/2021 43815HAC1 60,283.03 Honda Auto Receivables Trust 2018-3 A3 2.95% Due 8/22/2022 100.000 60,283.03 841.67 61,124.70 0.00 Paydown 05/24/2021 47788UAC6 0.00 John Deere Owner Trust 2021-A A3 0.36% Due 9/15/2025 100.000 0.00 240.00 240.00 0.00 Subtotal 443,567.14 443,567.14 9,433.73 453,000.87 0.00 Maturity 05/11/2021 369550BE7 1,130,000.00 General Dynamics Corp Note 3% Due 5/11/2021 100.000 1,130,000.00 0.00 1,130,000.00 0.00 Maturity 05/16/2021 166764BG4 1,000,000.00 Chevron Corp Callable Note Cont 4/15/2021 2.1% Due 5/16/2021 100.000 1,000,000.00 0.00 1,000,000.00 0.00 Maturity 05/19/2021 857477AV5 1,800,000.00 State Street Bank Note 1.95% Due 5/19/2021 100.000 1,800,000.00 0.00 1,800,000.00 0.00 Subtotal 3,930,000.00 3,930,000.00 0.00 3,930,000.00 0.00 Security Withdrawal 05/05/2021 90CAMP$00 2,500,000.00 California Asset Mgmt Program CAMP 1.000 2,500,000.00 0.00 2,500,000.00 0.00 Security Withdrawal 05/14/2021 90CAMP$00 500,000.00 California Asset Mgmt Program CAMP 1.000 500,000.00 0.00 500,000.00 0.00 Security Withdrawal 05/21/2021 90CAMP$00 2,500,000.00 California Asset Mgmt Program CAMP 1.000 2,500,000.00 0.00 2,500,000.00 0.00 Security Withdrawal 05/25/2021 31846V203 104.17 First American Govt Obligation Fund Class Y 1.000 104.17 0.00 104.17 0.00 Subtotal 5,500,104.17 5,500,104.17 0.00 5,500,104.17 0.00 TOTAL DISPOSITIONS 15,102,568.94 15,102,568.94 9,433.73 15,112,002.67 0.00 OTHER TRANSACTIONS Interest 05/07/2021 3135G06G3 2,860,000.00 FNMA Note 0.5% Due 11/7/2025 0.000 6,951.39 0.00 6,951.39 0.00 Execution Time: 6/8/2021 11:20:08 AMChandler Asset Management - CONFIDENTIAL Page 13 153 Transaction Ledger As of May 31, 2021 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss OTHER TRANSACTIONS Interest 05/11/2021 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 05/11/2021 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 05/15/2021 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 05/16/2021 166764BG4 1,000,000.00 Chevron Corp Callable Note Cont 4/15/2021 2.1% Due 5/16/2021 0.000 10,500.00 0.00 10,500.00 0.00 Interest 05/18/2021 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 05/18/2021 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 05/19/2021 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 05/31/2021 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 05/31/2021 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 05/31/2021 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 05/31/2021 912828U65 2,000,000.00 US Treasury Note 1.75% Due 11/30/2021 0.000 17,500.00 0.00 17,500.00 0.00 Interest 05/31/2021 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 25,780,000.00 261,498.89 0.00 261,498.89 0.00 Dividend 05/03/2021 31846V203 10,821,621.78 First American Govt Obligation Fund Class Y 0.000 36.18 0.00 36.18 0.00 Execution Time: 6/8/2021 11:20:08 AMChandler Asset Management - CONFIDENTIAL Page 14 154 Transaction Ledger As of May 31, 2021 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 05/31/2021 90CAMP$00 43,519,489.94 California Asset Mgmt Program CAMP 0.000 2,102.19 0.00 2,102.19 0.00 Subtotal 54,341,111.72 2,138.37 0.00 2,138.37 0.00 TOTAL OTHER TRANSACTIONS 80,121,111.72 263,637.26 0.00 263,637.26 0.00 Execution Time: 6/8/2021 11:20:08 AMChandler Asset Management - CONFIDENTIAL Page 15 155 Transaction Ledger As of June 30, 2021 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 06/01/2021 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 06/01/2021 31846V203 54.99 First American Govt Obligation Fund Class Y 1.000 0.01%54.99 0.00 54.99 0.00 Purchase 06/01/2021 61747YEA9 1,620,000.00 Morgan Stanley Callable Note Cont 5/30/2024 0.79% Due 5/30/2025 100.000 0.74%1,620,000.00 0.00 1,620,000.00 0.00 Purchase 06/01/2021 61747YEA9 710,000.00 Morgan Stanley Callable Note Cont 5/30/2024 0.79% Due 5/30/2025 100.109 0.71%710,773.90 0.00 710,773.90 0.00 Purchase 06/01/2021 61747YEA9 710,000.00 Morgan Stanley Callable Note Cont 5/30/2024 0.79% Due 5/30/2025 100.118 0.71%710,837.80 0.00 710,837.80 0.00 Purchase 06/08/2021 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 06/09/2021 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 06/10/2021 31846V203 5,750.00 First American Govt Obligation Fund Class Y 1.000 0.01%5,750.00 0.00 5,750.00 0.00 Purchase 06/11/2021 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 06/11/2021 31846V203 3,000,000.00 First American Govt Obligation Fund Class Y 1.000 0.01%3,000,000.00 0.00 3,000,000.00 0.00 Purchase 06/14/2021 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 06/15/2021 31846V203 375.83 First American Govt Obligation Fund Class Y 1.000 0.01%375.83 0.00 375.83 0.00 Purchase 06/15/2021 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 06/15/2021 31846V203 240.00 First American Govt Obligation Fund Class Y 1.000 0.01%240.00 0.00 240.00 0.00 Purchase 06/15/2021 31846V203 218.88 First American Govt Obligation Fund Class Y 1.000 0.01%218.88 0.00 218.88 0.00 Execution Time: 7/8/2021 2:10:51 PMChandler Asset Management - CONFIDENTIAL Page 11 156 Transaction Ledger As of June 30, 2021 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 06/15/2021 31846V203 229.58 First American Govt Obligation Fund Class Y 1.000 0.01%229.58 0.00 229.58 0.00 Purchase 06/15/2021 31846V203 14,533.98 First American Govt Obligation Fund Class Y 1.000 0.01%14,533.98 0.00 14,533.98 0.00 Purchase 06/15/2021 31846V203 48,216.26 First American Govt Obligation Fund Class Y 1.000 0.01%48,216.26 0.00 48,216.26 0.00 Purchase 06/15/2021 31846V203 57,341.93 First American Govt Obligation Fund Class Y 1.000 0.01%57,341.93 0.00 57,341.93 0.00 Purchase 06/15/2021 31846V203 83,181.61 First American Govt Obligation Fund Class Y 1.000 0.01%83,181.61 0.00 83,181.61 0.00 Purchase 06/16/2021 44891VAC5 1,420,000.00 Hyundai Auto Lease Trust 2021-B A3 0.33% Due 6/17/2024 99.985 0.34%1,419,787.00 0.00 1,419,787.00 0.00 Purchase 06/16/2021 91324PEC2 400,000.00 United Health Group Inc Callable Note Cont 4/15/2026 1.15% Due 5/15/2026 100.333 1.08%401,332.00 345.00 401,677.00 0.00 Purchase 06/17/2021 31846V203 8,587.50 First American Govt Obligation Fund Class Y 1.000 0.01%8,587.50 0.00 8,587.50 0.00 Purchase 06/17/2021 91324PEC2 205,000.00 United Health Group Inc Callable Note Cont 4/15/2026 1.15% Due 5/15/2026 100.305 1.08%205,625.25 183.36 205,808.61 0.00 Purchase 06/18/2021 31846V203 345.33 First American Govt Obligation Fund Class Y 1.000 0.01%345.33 0.00 345.33 0.00 Purchase 06/18/2021 31846V203 27,662.50 First American Govt Obligation Fund Class Y 1.000 0.01%27,662.50 0.00 27,662.50 0.00 Purchase 06/18/2021 89236TJK2 2,485,000.00 Toyota Motor Credit Corp Note 1.125% Due 6/18/2026 99.956 1.13%2,483,906.60 0.00 2,483,906.60 0.00 Purchase 06/19/2021 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 06/21/2021 31846V203 56,976.47 First American Govt Obligation Fund Class Y 1.000 0.01%56,976.47 0.00 56,976.47 0.00 Purchase 06/21/2021 91282CCF6 2,000,000.00 US Treasury Note 0.75% Due 5/31/2026 99.250 0.91%1,985,000.00 860.66 1,985,860.66 0.00 Execution Time: 7/8/2021 2:10:51 PMChandler Asset Management - CONFIDENTIAL Page 12 157 Transaction Ledger As of June 30, 2021 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 06/24/2021 31846V203 42,455.00 First American Govt Obligation Fund Class Y 1.000 0.01%42,455.00 0.00 42,455.00 0.00 Purchase 06/26/2021 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 06/27/2021 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 06/29/2021 58769KAD6 1,135,000.00 Mercedes-Benz Auto Lease Trust 2021- B A3 0.4% Due 11/15/2024 99.992 0.40%1,134,914.31 0.00 1,134,914.31 0.00 Purchase 06/30/2021 06417MQL2 2,500,000.00 Bank of Nova Scotia Houston Yankee CD 0.2% Due 6/23/2022 100.000 0.20%2,499,999.81 97.22 2,500,097.03 0.00 Purchase 06/30/2021 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 06/30/2021 90CAMP$00 1,897.98 California Asset Mgmt Program CAMP 1.000 0.05%1,897.98 0.00 1,897.98 0.00 Subtotal 16,879,672.14 16,866,848.81 1,486.24 16,868,335.05 0.00 Security Contribution 06/01/2021 90CAMP$00 3,600,000.00 California Asset Mgmt Program CAMP 1.000 3,600,000.00 0.00 3,600,000.00 0.00 Security Contribution 06/21/2021 90CAMP$00 2,300,000.00 California Asset Mgmt Program CAMP 1.000 2,300,000.00 0.00 2,300,000.00 0.00 Subtotal 5,900,000.00 5,900,000.00 0.00 5,900,000.00 0.00 TOTAL ACQUISITIONS 22,779,672.14 22,766,848.81 1,486.24 22,768,335.05 0.00 DISPOSITIONS Sale 06/01/2021 31846V203 3,041,611.70 First American Govt Obligation Fund Class Y 1.000 0.01%3,041,611.70 0.00 3,041,611.70 0.00 Sale 06/16/2021 31846V203 1,419,787.00 First American Govt Obligation Fund Class Y 1.000 0.01%1,419,787.00 0.00 1,419,787.00 0.00 Sale 06/16/2021 31846V203 401,677.00 First American Govt Obligation Fund Class Y 1.000 0.01%401,677.00 0.00 401,677.00 0.00 Execution Time: 7/8/2021 2:10:51 PMChandler Asset Management - CONFIDENTIAL Page 13 158 Transaction Ledger As of June 30, 2021 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 06/17/2021 31846V203 205,808.61 First American Govt Obligation Fund Class Y 1.000 0.01%205,808.61 0.00 205,808.61 0.00 Sale 06/18/2021 31846V203 2,483,906.60 First American Govt Obligation Fund Class Y 1.000 0.01%2,483,906.60 0.00 2,483,906.60 0.00 Sale 06/21/2021 31846V203 1,985,860.66 First American Govt Obligation Fund Class Y 1.000 0.01%1,985,860.66 0.00 1,985,860.66 0.00 Sale 06/29/2021 31846V203 1,134,914.31 First American Govt Obligation Fund Class Y 1.000 0.01%1,134,914.31 0.00 1,134,914.31 0.00 Sale 06/30/2021 31846V203 2,500,097.03 First American Govt Obligation Fund Class Y 1.000 0.01%2,500,097.03 0.00 2,500,097.03 0.00 Subtotal 13,173,662.91 13,173,662.91 0.00 13,173,662.91 0.00 Paydown 06/15/2021 43815NAB0 14,511.00 Honda Auto Receivables Trust 2019-3 A2 1.9% Due 4/15/2022 100.000 14,511.00 22.98 14,533.98 0.00 Paydown 06/15/2021 44933LAC7 0.00 Hyundai Auto Receivables Trust 2021-A A3 0.38% Due 9/15/2025 100.000 0.00 229.58 229.58 0.00 Paydown 06/15/2021 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 06/15/2021 47788EAC2 47,622.59 John Deere Owner Trust 2018-B A3 3.08% Due 11/15/2022 100.000 47,622.59 593.67 48,216.26 0.00 Paydown 06/15/2021 47788UAC6 0.00 John Deere Owner Trust 2021-A A3 0.36% Due 9/15/2025 100.000 0.00 240.00 240.00 0.00 Paydown 06/15/2021 65479GAD1 56,198.06 Nissan Auto Receivables Trust 2018-B A3 3.06% Due 3/15/2023 100.000 56,198.06 1,143.87 57,341.93 0.00 Paydown 06/15/2021 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 06/15/2021 89231PAD0 81,254.04 Toyota Auto Receivables Trust 2018-D A3 3.18% Due 3/15/2023 100.000 81,254.04 1,927.57 83,181.61 0.00 Execution Time: 7/8/2021 2:10:51 PMChandler Asset Management - CONFIDENTIAL Page 14 159 Transaction Ledger As of June 30, 2021 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss DISPOSITIONS Paydown 06/15/2021 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 06/18/2021 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 06/18/2021 43814UAG4 27,506.44 Honda Auto Receivables Trust 2018-2 A3 3.01% Due 5/18/2022 100.000 27,506.44 156.06 27,662.50 0.00 Paydown 06/21/2021 43815HAC1 56,283.00 Honda Auto Receivables Trust 2018-3 A3 2.95% Due 8/22/2022 100.000 56,283.00 693.47 56,976.47 0.00 Subtotal 283,375.13 283,375.13 8,488.41 291,863.54 0.00 Maturity 06/11/2021 313379RB7 3,000,000.00 FHLB Note 1.875% Due 6/11/2021 100.000 3,000,000.00 0.00 3,000,000.00 0.00 Subtotal 3,000,000.00 3,000,000.00 0.00 3,000,000.00 0.00 Security Withdrawal 06/04/2021 90CAMP$00 1,700,000.00 California Asset Mgmt Program CAMP 1.000 1,700,000.00 0.00 1,700,000.00 0.00 Security Withdrawal 06/07/2021 90CAMP$00 400,000.00 California Asset Mgmt Program CAMP 1.000 400,000.00 0.00 400,000.00 0.00 Security Withdrawal 06/24/2021 31846V203 104.17 First American Govt Obligation Fund Class Y 1.000 104.17 0.00 104.17 0.00 Subtotal 2,100,104.17 2,100,104.17 0.00 2,100,104.17 0.00 TOTAL DISPOSITIONS 18,557,142.21 18,557,142.21 8,488.41 18,565,630.62 0.00 OTHER TRANSACTIONS Interest 06/01/2021 438516CB0 2,500,000.00 Honeywell Intl Callable Note Cont 5/1/2025 1.35% Due 6/1/2025 0.000 16,875.00 0.00 16,875.00 0.00 Interest 06/08/2021 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 Execution Time: 7/8/2021 2:10:51 PMChandler Asset Management - CONFIDENTIAL Page 15 160 Transaction Ledger As of June 30, 2021 City of Dublin Consolidated Account #10221 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss OTHER TRANSACTIONS Interest 06/08/2021 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 06/09/2021 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 06/10/2021 78015K7H1 1,000,000.00 Royal Bank of Canada Note 1.15% Due 6/10/2025 0.000 5,750.00 0.00 5,750.00 0.00 Interest 06/11/2021 313379RB7 3,000,000.00 FHLB Note 1.875% Due 6/11/2021 0.000 28,125.00 0.00 28,125.00 0.00 Interest 06/14/2021 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 06/17/2021 3135G04Z3 3,435,000.00 FNMA Note 0.5% Due 6/17/2025 0.000 8,587.50 0.00 8,587.50 0.00 Interest 06/19/2021 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 06/24/2021 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 06/24/2021 24422ETT6 2,000,000.00 John Deere Capital Corp Note 2.65% Due 6/24/2024 0.000 26,500.00 0.00 26,500.00 0.00 Interest 06/26/2021 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 06/27/2021 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 06/30/2021 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 Interest 06/30/2021 91282CBC4 1,000,000.00 US Treasury Note 0.375% Due 12/31/2025 0.000 1,875.00 0.00 1,875.00 0.00 Subtotal 34,320,000.00 400,855.63 0.00 400,855.63 0.00 Dividend 06/01/2021 31846V203 7,205,319.22 First American Govt Obligation Fund Class Y 0.000 54.99 0.00 54.99 0.00 Execution Time: 7/8/2021 2:10:51 PMChandler Asset Management - CONFIDENTIAL Page 16 161 Transaction Ledger As of June 30, 2021 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 06/30/2021 90CAMP$00 47,321,592.13 California Asset Mgmt Program CAMP 0.000 1,897.98 0.00 1,897.98 0.00 Subtotal 54,526,911.35 1,952.97 0.00 1,952.97 0.00 TOTAL OTHER TRANSACTIONS 88,846,911.35 402,808.60 0.00 402,808.60 0.00 Execution Time: 7/8/2021 2:10:51 PMChandler Asset Management - CONFIDENTIAL Page 17 162