HomeMy WebLinkAbout4.6 City Treasurer's Informational Report of Investments for the Quarter Ending March 31, 2023r
DUBLIN
CALIFORNIA
STAFF REPORT
CITY COUNCIL
DATE: May 16, 2023
TO: Honorable Mayor and City Councilmembers
FROM: Linda Smith, City Manager
Agenda Item 4.6
SU B.ECT : City Treasurer's Informational Report of Investments for the Quarter Ending
March 31, 2023
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 March 31, 2023 including a monthly transaction ledger. The City's investment portfolio for
this period totaled $388,037,166 (market value) with an average market yield of 4.39%. 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 March
31, 2023.
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 $281,327,249 managed by Chandler
Asset Management (Chandler), and $106,709,917 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 4.37% and 4.42%
respectively.
Page 1 of 4
68
The total investment portfolio balance fluctuates throughout the year due to normal cash flow
needs and includes both discretionary and restricted funds.
Economic Update Highlights
The following are some highlights from the Economic Update included in the Investment Report
prepared by Chandler (Attachment 1).
Economic trends have been decelerating along with tighter financial conditions and restrictive
monetary policy. Recent data suggests positive but below -trend growth this year. Although the
pace of job growth is slowing, labor markets remain solid, and the U.S. consumer has
demonstrated resiliency. Market participants and the Federal Reserve are maintaining very
divergent views regarding the future trajectory of monetary policy. Given the cumulative effects of
tighter monetary policy and stress in the banking sector, Chandler believes the Federal Reserve is
likely near a pause in their rate hiking campaign. If moderate growth continues, Chandler believes
the Fed will likely maintain the Federal Funds rate in restrictive territory until inflationary
pressures subside.
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, except for CAMP due to additional funds
have been deposited with the receipt of property taxes.
Supranational
4.4%
Money Market
Fund
0.2%
Local Gov
Investment Pool
20.8%
Chart 1: Investments by Type
March 31, 2023 and December 31, 2022
March 31, 2023
LAIF
6.7%
ABS
7.8%
December 31, 2022
Commercial
Paper
1.4%
LAIF
7.2%
ABS
8.7%
Agency
16.4%
Corporate
18.4%
CMO
The market value of the City's portfolio increased by $29,227,114 from the December 31, 2022
quarter. The quarterly change results from the normal fluctuations in the timing of incoming
revenue, predominantly the receipt of property tax allocations and sales tax revenue, and
expenditures on Capital Projects and payments to Alameda County for Police and Fire Services.
The City's portfolio increased by $17.1 million from the same quarter the prior year (see Table 1
below). Overall market yield -to -maturity has remained consistent at 4.39%, (shown in Table 2)
Page 2 of 4
69
due to the factors discussed in the Economic Update Highlights. For detailed monthly transactions,
see Attachment 2.
Holdings
Managed by City
LAI F
CAMP
SUBTOTAL'
Accrued Interest
Managed by Chandler
ABS
Agency
CM0
Commercial paper
Money Market
Negotiable CD
Supranational
Corporate
US Treasury
SUBTOTAL
Accrued Interest
TOTAL PORTFOLIO
Table 1: Portfolio Values and Yield to Maturity
March 31, 2022
Market
Value
50,424,445
79,661,872
130,086,317 I
36,519
130,122,836
22,814,841
57,293,846
4,052,552
632,736
4,978,673
19,609,525
66,644,264
63,976,891
240,003,327
779,938
240,783,265
370,906,101
December 31, 2022
Market
Value
25,730,693
56,195, 257
81,925,950 I
169,795
82,095,744
31,285,896
58,714,486
3,843,615
4,982,197
4,923,898
16,569,068
65,378,464
89,783,810
275,481,435
1,232,872
276,714,308
358,810,052
March 31, 2023
Par
Value
Book
Value
Market
Value
25,917,596
80,625,562
106,543,157
30,889,890
62,450,000
4,000,000
25,917,596
80,625,562
106,543,157
30,887,455
62,672,955
4,135,139
25,917,596
80,625,562
106,543,157
166,760
106,709,917
30,171,153
60,517,635
3,874,342
760,481 760,481 760,481
18,240,000
74,375,000
100,250,000
290,965,371
18,218,617
74,472,985
99,932,489
291,080,120
16,860,396
71,092,672
96,639,811
279,916,489
1,410,760
281,327,249
397,508,528 397,623,277
Change from Prior Year
Change from Prior Quarter
388,037,166
17,131,065
29,227,114
of
Subtotal
% of Total Book Market
Portfolio Yield Yield
24.3% 6.5%
2.88% 2.88%
75.7% 20.3% 4.92% 4.92%
100.00% 26.80% 4.42% 4.42%
10.8% 7.8% 2.21%
21.6% 15.7% 2.08%
1.4% 1.0% 1.35%
0.0% 0.0% 0.00%
0.3% 0.2% 4.32%
0.0% 0.0% 0.00%
6.0% 4.6% 0.67%
25.4% 18.7% 2.38%
34.5% 25.2% 2.47%
100.00% 73.20% 2.21%
5.23%
4.38%
4.57%
0.00%
4.32%
0.00%
4.05%
4.75%
3.87%
4.37%
100.00% 4.39%
Table 2: Quarterly Holdings (Market Value) by Type, and YTM, 5 Quarters
Holdings (Market Value)
LAI F/CAMP
ABS
Agency
CMO
Commercial Paper
Money Market
Negotiable CD
Supranational
Corporate
US Treasury
Accrued Interest
TOTAL
YIELD TO MATURITY
3/31/22 6/30/22 9/30/22 12/31/22 3/31/23
130,086,317 139,704,489 129,243,283 81,925,950 106,543,157
22,814,841 26,693,153 27,760,436 31,285,896 30,171,153
57, 293, 846 56, 641, 842 53, 062, 995 58, 714,486 60, 517, 635
4,052,552 3,966,300 3,839,610 3,843,615 3,874,342
4,982,197 -
632,736 3,039,481 286,323 4,923,898 760,481
4,978,673 2,486,275 2,497,243 - -
19, 609, 525 19, 403, 787 16, 428, 894 16, 569, 068 16, 860, 396
66, 644, 264 62, 892, 216 63, 373,439 65, 378, 464 71, 092, 672
63,976,891 62,468,441 65,877,816 89,783,810 96,639,811
816,458 1,012,868 1,069,574 1,402,667 1,577,520
370,906,101 378,308,853 363,439,614 358,810,052 I 388,037,166
1.62% 2.48% 3.66% 4.39% 4.39%
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). Below is the recent yield of the local pools compared to that of
Chandler.
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70
Table 3: Quarterly Portfolio Yields, Recent 8 Quarters
Market Yield LAIF CAMP Chandler
6/30/21 0.25% 0.05% 0.49%
9/30/21 0.21% 0.05% 0.56%
12/31/21 0.22% 0.05% 0.91%
3/31/22 0.42 % 0.07 % 2.38%
6/30/22 0.94% 1.40% 3.20%
9/30/22 1.60% 2.61% 4.47%
12/31/22 2.23% 4.50% 4.57%
3/31/23 2.88% 4.92% 4.37%
STRATEGIC PLAN INITIATIVE:
None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
The City Council Agenda was posted.
ATTACHMENTS:
1) City of Dublin Investment Report for Period Ending March 31, 2023
2) Transaction Ledger - January through March 2023
Page 4 of 4
71
Attachment I
INVESTMENT REPORT
City of Dublin
Period Ending March 31, 2023
CiitER CHANDLASSET MANAGEMENT
CHANDLER ASSET MANAGEMENT, INC. 1800.317.4747 I www.chandlerasset.com
ITable of Contents
SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Consolidated Information
SECTION 4 Portfolio Holdings
SECTION 5 Transactions
As of March 31, 2023
1 CA%
73
Section 1 I Economic Update
Economic Update
• Economic trends have been decelerating along with tighter financial conditions and restrictive monetary policy. Recent data
suggests positive but below trend growth this year. Although the pace of job growth is moderating, labor markets remain
solid, and the U.S. consumer has demonstrated resiliency. Market participants and the Federal Reserve are maintaining very
divergent views regarding the future trajectory of monetary policy. Given the cumulative effects of tighter monetary policy
and stress in the banking sector, we believe the Federal Reserve is likely near a pause in their rate hiking campaign. If
moderate growth continues, we believe the Fed will likely maintain the Federal Funds rate in restrictive territory until
inflationary pressures subside.
• At the March meeting, the Federal Open Market Committee voted unanimously to raise the target federal funds rate by
0.25% to a range of 4.75 — 5.00%. Fed Chair Powell reiterated the committee's focus on bringing down inflation to their 2%
target; however, the committee softened language about "ongoing increases" in rates in the prior statement to "some
additional policy firming may be appropriate". The statement also emphasized that the U.S. banking system is "sound and
resilient" and acknowledged the tightening of financial conditions. The Chandler team believes the FOMC is likely near a
pause in their rate hiking cycle.
• In March, the yield curve inversion narrowed. The 2-year Treasury yield plummeted 79 basis points to 4.03%, the 5-year
Treasury yield plunged 61 basis points to 3.58%, and the 10-year Treasury yield fell 45 basis points to 3.47%. The inversion
between the 2-year Treasury yield and 10-year Treasury yield declined to -56 basis points at March month -end versus -90
basis points at February month -end. There was no spread between the 2-year Treasury and 10-year Treasury yield one year
ago — the yields were approximately equal. The inversion between 3-month and 10-year Treasuries widened to -128 in
March from -89 basis points in February. The shape of the yield curve indicates that the probability of recession is
increasing.
MOM Change In (000's)
Employment
1,000
900
800
700
600
500
400
300
200
100
0
Nonfarm Payroll (000's)
Non -farm Payroll (000's)
3 month average (000's)
✓ S O ✓ S O
dr.,)7 4hc1 Ppc) ccc1 drc)� �'�c) Pac) Pcc� drsc)S
Source: US Department of Labor
12.0%
10.0%
8.0%
0
' ▪ 6.0%
co
re
4.0%
2.0%
0.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
✓4� S% Ooc� 47 ✓4/ So:� Ooc� dr.
1 1 7 S
Source: US Department of Labor
The U.S. economy added 236,000jobs in March, and the prior two months were revised downward by 17,000. Although the pace of job growth
is moderating, employment remains strong, with the three-month moving average payrolls at 345,000 and the six-month moving average at
315,000. The private sector reported broad gains, led by leisure and hospitality. The unemployment rate fell to 3.5% due to a sharp rise in the
number of people employed, and the participation rate increased to 62.6% from 62.5% in February. The U-6 underemployment rate, which
includes those who are marginally attached to the labor force and employed part time for economic reasons, declined to 6.7% from the prior
month at 6.8%. Average hourly earnings rose 4.2% year -over -year in March, down from a 4.6% increase in February. Job Openings dipped to 9.9
million, the first drop below 10 million since May of 2021. While the overall pace of hiring is slowing, levels remain consistent with a solid labor
market.
4 CM
76
YOY( %) Change
Inflation
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
14)
1
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
J 0,0 Ooc �ar ✓4, Sok Ooc "-7
ot
�1 c1 c)c) ,,) ,),) ,) c)0)
Source: US Department of Labor
YOY( %) Change
Personal Consumption Expenditures (PCE)
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
Source: US Department of Commerce
PCE Price Deflator YOY % Change
PCE Core Deflator YOY % Change
The Consumer Price Index (CPI) increased in March 0.1% month -over -month and 5.0% year -over -year, down from 6.0% in February. The Core
CPI, which excludes volatile food and energy components, rose 0.4% month -over -month and 5.6% year -over -year, accelerating from 5.5% in
February. Housing remained the largest factor in headline CPI representing 60% of the increase. The Personal Consumption Expenditures (PCE)
index rose 5.0% year -over -year in February, improving from a 5.3% year -over -year gain in January. Core PCE, the Federal Reserve's preferred
inflation gauge, increased 4.6% year -over -year in February, the smallest increase since October 2021. Inflationary trends are declining but
remain above the Fed's 2% target.
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77
YOY (%) Change
Consumer
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
Retail Sales YOY % Change
Ihiliildillgilludo.
Source: US Department of Commerce
140
130
120
90
80
1
Source: The Conference Board
Consumer Confidence
SPa` OPc, /�dr, ✓e,� sib 0�'C • /�°'r,
? '1 �� c� ,)� � ,),)
Advance Retail Sales fell more than expected month -over -month at -1.0% in March, which translated to a year -over -year deceleration to 2.9%
from 5.9% in February. The report indicated a broad -based cooling in discretionary spending as consumers are becoming more cautious about
the outlook for the US economy. The Conference Board's Consumer Confidence Index unexpectedly increased to 104.2 in March from 103.4 in
February. While high inflation and recession concerns remain top of mind for many consumers, the strong labor market and low
unemployment continue to support the strength in Consumer Confidence.
6 CA%
78
IEconomic Activity
MOM (%) Change
1.5%
1.0%
0.5%
0.0%
- 0.5%
- 1.0%
- 1.5%
44
1
Leading Economic Indicators (LEI)
✓0/2 i, 6Pc �dr 'le,jPo 6Pc dr
`1 c)1 c1 �,) `� c)� �c) �,))
Source: The Conference Board
3 Month Average
1.00
0.75
0.50
0.25
0.00
- 0.25
- 0.50
/
Chicago Fed National Activity Index (CFNAI)
I
Source: Federal Reserve Bank of Chicago
The Conference Board's Leading Economic Index (LEI) remained in negative territory for the twelfth consecutive month at —1.2% in March,
falling considerably from a downwardly revised -0.5% in February. The LEI was down 7.8% year -over -year in March versus down 6.5% year -over -
year in February. The consistent decline month -over -month continues to signal future contraction in the economy. The Chicago Fed National
Activity Index (CFNAI) declined to -0.19 in February from +0.23 in January. On a 3-month moving average basis, the CFNAI increased to -0.13 in
February from -0.27 in January, indicating a rate of growth below the historical average trend.
7 CA%
79
MOM Change (In Thousands of Units)
Housing
2000
1800
1600
1400
1200
1000
800
600
400
200
0
Housing Starts S&P/Case-Shiller 20 City Composite Home Price Index
24.0%
21.0%
Mu.ti Family Housing Starts
• Single Family Housing Starts
✓ S 0 ✓ S 0
dr�1 �7 �1 ��1 �°c,1 dr,)� v7 cp�� c��� dr�,3)
YOY( %) Change
18.0%
15.0%
12.0%
9.0%
6.0%
3.0%
0.0%
Source: US Department of Commerce Source: S&P
1 1sc)t
1 •0'
Total housing starts fell 0.8% month -over -month in March to 1,420,000 units and were down 17.2% compared to March 2022. The decline was
primarily driven by a drop in multifamily construction while single-family construction increased. The 30-year fixed rate mortgage averaged
approximately 6.52% in March according to Freddie Mac, down from a peak of 7.08% in October, but up from 4.67% a year ago. According to the
Case-Shiller 20-City Home Price Index, the year -over -year increase continued its declining rate of gain to +2.55% in January from +4.62% in
December, clearly displaying the impact of higher mortgage rates year -over -year, which have reduced demand for homebuying as affordability
has declined. This is the lowest rate of annual appreciation since December 2019.
8 CA%
80
Manufacturing
Institute of Supply Management Purchasing Manager Index
66
64
62
60 \,................‘
58
56
54
52
50
48
46
44
42
40
EXPANDING
CONTRACTING
So OPc
1
Source: Institute for Supply Management
410,
o
410
20.0%
15.0%
a 10.0%
c
zg
7 5.0%
0
} 0.0%
-5.0%
-10.0%
Industrial Production
✓ S
d/: ,2
1 Pa�1
1
Source: Federal Reserve
✓ J
PC di. ��• 0p O PC dr
�1 �� ,� ,)� „� ,,,o)
The Institute for Supply Management (ISM) manufacturing index fell to 46.3 in March from 47.7 in February. This is the fifth consecutive month
of readings below 50.0, which is indicative of contraction in the manufacturing sector. All components weakened, including the headline, new
orders, employment, and prices. Industrial production rose 0.4% in March due to an 8.4% increase in utilities production, as demand increased
for heating. This equates to a +0.5% increase in industrial production from the prior year. Capacity utilization increased to 79.8% in March from
an upwardly revised 79.6% in February, inching above its 1972-2021 average of 79.6%.
9 CM
81
Gross Domestic Product (GDP)
Components of GDP
3/22 6/22 9/22 12/22
Personal Consumption Expenditures
0.9% 1.4% 1.5% 0.7%
Gross Private Domestic Investment 1.0% -2.8% -1.8% 0.8%
Net Exports and Imports
-3.1% 1.2% 2.9% 0.4%
Federal Government Expenditures -0.4% -0.2% 0.2% 0.4%
State and Local (Consumption and Gross
Investment)
0.0% -0.1% 0.4% 0.3%
Total
40.0%
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)
- M • IThw.....Ahrt:%%:--F-a
GDP Q0Q % Change
-GDP YOY % Change
-1.6% -0.6% 3.3% 2.6% hoc, ✓�'/2. hoc, ✓�'/2. hoc, ✓<'/i. hoc, ✓�'.). does ✓�/i. hoc
1) 4 1� 19 19 c)O �o cl .1 c� c�
Source: US Department of Commerce Source: US Department of Commerce
According to the third estimate, fourth quarter 2022 GDP growth was revised downward to 2.6% from 2.7%. The revision lower was primarily
due to weaker growth in personal consumption expenditures and a wider trade gap in net exports. The consensus estimate calls for 1.8%
growth in the first quarter and 1.1% growth for the full year 2023.
10 C►"
82
Federal Reserve
10, 000,000
9,000,000
8,000,000
7,000,000
6,000,000
5,000,000
4,000,000
3,000,000
Federal Reserve Balance Sheet Assets
2,000,000
Oe 0 0 Oe O� 0 0 Oe 0 0 O� Oe 0
1 c1 c1 c1 c1 c1 c1 c1 c1 c1 c� c� c\
O 1 � �' St S 6 � 8 9 O 1 )
Source: Federal Reserve
5.00%
4.50%
4.00%
3.50%
3.00%
w 2.50%
} 2.00%
1.50%
1.00%
0.50%
0.00%
Effective Federal Funds Rate
00O� 0 0 0 Oo Oo Oo Oo OP O0 Oo O�
c1 c1 C. C. c1 c1 C. c1 c1 c1 C. C. c.
O 1 � �' st •S 6 � 8 9 O 1 �
Source: Bloomberg
At the March meeting, the Federal Open Market Committee voted unanimously to raise the target federal funds rate by 0.25% to a range of
4.75 — 5.00%. Fed Chair Powell reiterated the committee's focus on bringing down inflation to their 2% target; however, the committee
softened language about "ongoing increases" in rates in the prior statement to "some additional policy firming may be appropriate". The
statement also emphasized that the U.S. banking system is "sound and resilient" and acknowledged the tightening in financial conditions.
Powell indicated that the extent of these effects is uncertain but speculated that tighter credit conditions could be equivalent to a rate hike or
more. The Summary of Economic Projections was little changed, with the consensus target federal funds rate rising to 5.1% by the end of 2023
(implying one more quarter point hike), falling to 4.3% in 2024 (up from 4.1% previously), and declining to 3.1% by the end of 2025. No rate
cuts were in the Fed's base case for this year, contrary to the market consensus. Although projections imply policymakers are winding down
interest rate hikes, the statement clearly reflected optionality for the Fed to remain data dependent. The Chandler team believes the Fed is
likely near a pause in their rate hiking cycle.
11 CM
83
Bond Yields
5.0%
4.5%
4.0%
3.5%
• 3.0%
-0 2.5%
v
} 2.0%
1.5%
1.0%
0.5%
0.0%
•
US Treasury Note Yields US Treasury Yield Curve
6.0%
2-Year
5-Year
10-Year
5.0%
2.0 %
Mar-23
Dec-22
• • Mar-22
0.0 %
✓ S 0 ✓ S 0 ) 6 c) S .l '9
dr,1 4) <1 Pb,z Pcc1 dr,), �� <,Pb�� Pcc� dr\0) li o // c, 1, yr yr pyr pyr
Source: Bloomberg Source: Bloomberg
1.0%
At the end of March, the 2-year Treasury yield was 169 basis points higher, and the 10-Year Treasury yield was about 113 basis points higher,
year -over -year. The inversion between the 2-year Treasury yield and 10-year Treasury yield narrowed to -56 basis points at March month -end
versus -90 basis points at February month -end. The average historical spread (since 2003) is about +130 basis points. The inversion between 3-
month and 10-year Treasuries widened to -128 in March from -89 basis points in February. The shape of the yield curve indicates that the
probability of recession is increasing.
12 CM
84
Section 2 I Account Profile
Objectives
As of March 31, 2023
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.
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 BofA 1-5 Year Treasury and Agency Index.
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.
14 C,,
86
Compliance
City of Dublin
Assets managed by Chandler Asset Management are in full compliance with state law and with the City's investment policy.
As of March 31, 2023
Category
Standard
Comment
U.S. Treasury Issues
Federal Agencies
Municipal Securities
Supranational Securities
Asset -Backed Securities/Mortgage-
Ba c ked Securities/ Col l a tera l i zed
Mortgage Obligations
Corporate Medium Term Notes
Negotiable Certificates of Deposit
Time Deposits/ Certificates of Deposit
Commercial Paper
Banker's Acceptances
Money Market Mutual Funds and
Mutual Funds
Local Agency Investment Fund (LAIF)
California Asset Management Program
(CAMP)
Prohibited Securities
Max Per Issuer
Maximum Maturity
No limitations; Full faith and credit of the U.S. are pledged for payment of principal and interest. Complies
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. Complies
GSEs.
"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;
"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")
"AA" rated or higher by a NRSRO; 20% maximum (combined); 5% max per issuer
Complies
Complies
Complies
"A" rated or higher by a NRSRO; 30% maximum; 5% max per issuer; Issued by corporations organized and operati ng within the U.S. or by
Complies
depository institutions licensed by the U.S. or any state and operating within the U.S.
"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.
10% maximum; Collateralized/FDIC Insured; 1 year max maturity Complies
"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,
Complies
(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 col Iateralization, LOC, or surety bond, (3) "A-
1" rated or higher by a NRSRO
"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 fi na nci a l
institution in combination with any other debt from that financial institution; 180 days max maturity
Highest rating or "AAA" rated by two NRSROs; SEC registered adviser with AUM >$500 million and experience > 5 years; 20% maximum in
Complies
Complies
Mutual Funds and Money Market Mutual Funds; 20% max in Money Market Mutual Fund; 10% max per one Mutual Fund Complies
Maximum permitted by LAIF; Not used by investment adviser
Issued by joint powers authority organized pursuant to California Government Code; Not used by investment adviser
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.
5% max per issuer, except US Government, its Agencies and instrumentalities (including agency backed -mortgage pools), Supranational
securities, or Money Market Mutual Funds
5 years, unless otherwise stated in the policy
Complies
Complies
Complies
Complies
Complies
15 C
87
Portfolio Characteristics
City of Dublin
As of March 31, 2023
03/31/23 12/31/22
Benchmark* Portfolio Portfolio
Average Maturity (yrs)
Average Modified Duration
Average Purchase Yield
Average Market Yield
Average Quality**
Total Market Value
*ICE BofA 1-5 Yr US Treasury & Agency Index
**Benchmark is a blended rating of S&P, Moody's, and Fitch. Portfolio is S&P and Moody's respectively.
2.62
2.50
n/a
4.02%
AAA
2.67
2.29
2.21%
4.37%
AA/Aa1
281,327,249
2.54
2.17
2.11%
4.57%
AA+/Aa1
276,714,308
16 CM
88
I Sector Distribution
US Treasury
34.6%
Supranational
6.0%
Money Market
Fund
0.3 %
March 31, 2023
Corporate
25.4%
ABS
10.7 %
Agency
21.6%
CMO
1.4%
City of Dublin
December 31, 2022
Commercial
Paper
1.8%
US Treasury
32.6%
Supranational
6.0 %
As of March 31, 2023
ABS
11.3%
I'M
Money Market
Fund Corporate
1.8% 23.8%
CMO
1.4%
Agency
21.3%
17 CM
89
Issuers
City of Dublin - Account #10198
As of March 31, 2023
Issue Name
Investment Type % Portfolio
Government of United States
Federal Home Loan Bank
Federal National Mortgage Association
Federal Farm Credit Bank
Inter -American Dev Bank
Federal Home Loan Mortgage Corp
Intl Bank Recon and Development
John Deere ABS
Amazon.com Inc
Bank of America Corp
Deere & Company
Hyundai Auto Receivables
JP Morgan Chase & Co
Federal Home Loan Mortgage Corp
Toyota Motor Corp
Honda Motor Corporation
United Health Group Inc
Royal Bank of Canada
Toronto Dominion Holdings
Toyota Lease Owner Trust
Apple Inc
Qualcomm Inc
Morgan Stanley
Mercedes-Benz
Metlife Inc
GM Financial Automobile Leasing Trust
Caterpillar Inc
Northwestern Mutual Glbl
US Bancorp
Chubb Corporation
Honda ABS
Honeywell Corp
Bank of Montreal Chicago
Berkshire Hathaway
American Express ABS
Wal-Mart Stores
Hyundai Auto Lease Securitization
GM Financial Securitized Term Auto Trust
US Treasury
Agency
Agency
Agency
Supranational
Agency
Supranational
ABS
Corporate
Corporate
Corporate
ABS
Corporate
CMO
Corporate
Corporate
Corporate
Corporate
Corporate
ABS
Corporate
Corporate
Corporate
ABS
Corporate
ABS
Corporate
Corporate
Corporate
Corporate
ABS
Corporate
Corporate
Corporate
ABS
Corporate
ABS
ABS
34.55%
8.14%
6.39%
4.25%
3.30%
2.86%
2.71%
1.76%
1.61%
1.44%
1.43%
1.43%
1.39%
1.38%
1.34%
1.21%
1.21%
1.19%
1.12%
1.07%
1.06%
1.06%
1.03%
1.00%
1.00%
0.94%
0.89%
0.88%
0.88%
0.87%
0.85%
0.84%
0.79%
0.77%
0.77%
0.72%
0.66%
0.64%
18 CM
90
Issuers
City of Dublin — Account #10198
As of March 31, 2023
Issue Name
Investment Type % Portfolio
Charles Schwab Corp/The
BMW Vehicle Lease Trust
Target Corp
PNC Financial Services Group
Bank of New York
Mercedes-Benz Auto Lease Trust
Dominion Resources Inc
Verizon Master Trust
BMW ABS
First American Govt Oblig Fund
Guardian Life Global Funding
Salesforce.com Inc
Toyota ABS
Nissan ABS
TOTAL
Corporate
ABS
Corporate
Corporate
Corporate
ABS
Corporate
ABS
ABS
Money Market Fund
Corporate
Corporate
ABS
ABS
0.62%
0.54%
0.44%
0.43%
0.43%
0.36%
0.35%
0.32%
0.30%
0.27%
0.26%
0.16%
0.09%
0.01%
100.00%
19 CM
91
Quality Distribution
70.0%
60.0 %
50.0 %
40.0 %
30.0%
20.0 %
10.0%
0.0%
1
AAA
City of Dublin
March 31, 2023 vs. December 31, 2022
AA
■ 03/31/23
A
<A
■ 12/31/22
NR
As of March 31, 2023
AAA
AA A <A NR
03/31/23
12/31/22
Source: S&P Ratings
15.2%
18.2%
63.4%
61.5%
17.9%
16.6%
0.3%
0.3%
3.1%
3.3%
20 CA%
92
I Duration Distribution
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
0 - 0.25
City of Dublin
Portfolio Compared to the Benchmark
0.25 - 0.50 0.50 - 1
■ City of Dublin
1-2
2-3 3-4
4-5 5+
ICE BofA 1-5 Yr US Treasury & Agency Index
As of March 31, 2023
0-0.25 0.25-0.50
0.50-1 1-2
2-3 3-4
4-5 5+
Portfolio
Benchmark*
1.2%
0.0%
*ICE BofA 1-5 Yr US Treasury & Agency Index
5.5%
0.0%
7.4%
1.7%
29.6%
35.8%
27.5%
27.9%
18.1%
20.2%
10.5%
14.4%
0.0%
0.0%
21 CM
93
Investment Performance
1.50%
1.00%
0.50%
0.00%
- 0.50%
- 1.00%
- 1.50%
-2.00%
-2.50%
City of Dublin
Total Rate of Return Annualized Since Inception October 31, 2013
12 months 2 years
3 years 5 years
As of March 31, 2023
10 years Since Inception
• City of Dublin ICE BofA 1-5 Yr US Treasury & Agency Index*
Annualized
TOTAL RATE OF RETURN 3 months 12 months 2 years 3 years 5 years 10 years Since
Inception
City of Dublin 1.67% -0.16% -1.78% -0.80% 1.30% N/A 1.08%
ICE BofA 1-5 Yr US Treasury & Agency Index* 1.82% -0.38% -2.06% -1.40% 1.09% N/A 0.89%
*ICE BofA 1-3 Yr US Treasury & Agency Index to 12/31/14
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.
22 CM
94
Portfolio Characteristics
City of Dublin Reporting Account
As of March 31, 2023
03/31/23
Portfolio
12/31/22
Portfolio
Average Maturity (yrs)
Modified Duration
Average Purchase Yield
Average Market Yield
Average Quality*
Total Market Value
*Portfolio is S&P and Moody's, respectively.
0.00
0.00
4.42%
4.42%
AAA/NR
106,709,917
0.00
0.00
3.79%
3.78%
AAA/NR
82,095,744
23 CM
95
I Sector Distribution
City of Dublin Reporting Account
March 31, 2023 December 31, 2022
LAIF
24.4%
Local Gov
Investment Pool
75.6%
Local Gov
Investment Pool
68.5%
As of March 31, 2023
LAI F
31.6%
24 CM
96
Issuers
City of Dublin Reporting Account — Account #10219
As of March 31, 2023
Issue Name
Investment Type % Portfolio
CAM P
Local Agency Investment Fund
TOTAL
Local Gov Investment Pool
LAI F
75.56%
24.44%
100.00%
25 CM
97
Section 3 I Consolidated Information
26 a
98
Portfolio Characteristics
City of Dublin Consolidated
As of March 31, 2023
03/31/23
Portfolio
12/31/22
Portfolio
Average Maturity (yrs)
Modified Duration
Average Purchase Yield
Average Market Yield
Average Quality*
Total Market Value
* Portfolio is S&P and Moody's respectively.
1.94
1.66
2.80%
4.39%
AA+/Aa 1
388,037,166
1.96
1.67
2.48%
4.39%
AA+/Aa 1
358,810,052
I Sector Distribution
US Treasury
25.1%
Supranational
4.4%
Money Market
Fund
0.2
Local Gov
Investment Pool
20.8%
March 31, 2023
LAIF
6.7%
ABS
7.8%
City of Dublin Consolidated
Agency
15.7%
CMO
1.0
Corporate
18.4%
December 31, 2022
Commercial
Paper
1.4%
US Treasury
25.2%
Supranational
4.6%
Money Market
Fund
1.4%
ABS
8.7%
As of March 31, 2023
Agency
16.4%
Local Gov Corporate
Investment Pool 18.4%
15.7%
LAIF
7.2%
CMO
28 CM
100
Section 4 I Portfolio Holdings
Holdings Report
City of Dublin - Account #10198
As of March 31, 2023
CUSIP Security Description
Par Value/Units
Purchase Date Cost Value Mkt Price Market Value % of Port. Moody/S&P Maturity
Book Yield Book Value Mkt YTM Accrued Int. Gain/Loss Fitch Duration
ABS
44891VAC5 Hyundai Auto Lease Trust 2021-BA3
0.330% Due 06/17/2024
65479JAD5 Nissan Auto Receivables Owner 2019-CA3
1.930% Due 07/15/2024
89237VAB5 Toyota Auto Receivables Trust 2020-C A3
0.440% Due 10/15/2024
43813KAC6 Honda Auto Receivables Trust 2020-3A3
0.370% Due 10/18/2024
89239CAC3 Toyota Lease Owner Trust 2021-B A3
0.420% Due 10/21/2024
47787NAC3 John Deere Owner Trust 2020-B A3
0.510% Due 11/15/2024
58769KAD6 Mercedes-Benz Auto Lease Trust 2021-BA3
0.400% Due 11/15/2024
09690AAC7 BMW Vehicle Lease Trust 2021-2 A3
0.330% Due 12/26/2024
44891WAC3 Hyundai Auto Lease Trust 2022-AA3
1.160% Due 01/15/2025
89238LAC4 Toyota Lease Owner Trust 2022-AA3
1.960% Due 02/20/2025
36265MAC9 GM Financial Auto Lease Trust 2022-1 A3
1.900% Due 03/20/2025
05601XAC3 BMW Vehicle Lease Trust 2022-1 A3
1.100% Due 03/25/2025
36266FAC3 GM Financial Auto Lease Trust 2022-2 A3
3.420% Due 06/20/2025
47788UAC6 John Deere Owner Trust 2021-AA3
0.360% Due 09/15/2025
44933LAC7 Hyundai Auto Receivables Trust 2021-AA3
0.380% Due 09/15/2025
05593AAC3 BMW Vehicle Lease Trust 2023-1 A3
5.160% Due 11/25/2025
44934KAC8 Hyundai Auto Receivables Trust 2021-B A3
0.380% Due 01/15/2026
972,648.83 06/08/2021 972,502.94
0.34% 972,619.15
38,785.52 10/16/2019 38,783.48
1.94% 38,784.96
246,671.21 07/21/2020 246,652.21
0.44% 246,664.27
401,487.43 09/22/2020 401,428.44
0.38% 401,475.53
1,056,014.38 07/27/2021 1,056,000.12
0.39% 1,056,009.73
117,562.96 07/14/2020 117,545.04
0.52% 117,558.89
1,035,805.56 06/22/2021 1,035,727.36
0.40% 1,035,781.26
507,504.04 09/08/2021 507,451.67
0.34% 507,487.15
910,000.00 01/11/2022 909,979.89
1.16% 909,990.65
2,045,000.00 02/23/2022 2,044,678.12
1.98% 2,044,829.71
1,680,000.00 02/15/2022 1,679,985.55
1.91% 1,679,992.93
755,000.00 01/11/2022 754,887.13
1.05% 754,949.10
1,020,000.00 05/03/2022 1,019,893.61
3.45% 1,019,936.78
565, 545.51 03/02/2021 565,436.82
0.37% 565,498.98
552,243.47 04/20/2021 552,185.36
0.20% 552,222.06
295,000.00 02/07/2023 294,992.98
5.22% 294,993.39
1,995, 620.91 07/20/2021 1,995,180.47
0.16% 1,995,415.88
98.80
5.96%
99.86
6.61%
98.86
5.36%
98.22
5.37%
98.17
5.51%
99.01
4.91%
97.75
5.76%
98.01
5.83%
97.25
5.60%
97.04
5.54%
97.34
5.41%
97.50
5.66%
98.23
5.24%
96.78
5.63%
97.24
5.26%
100.29
5.02%
96.57
5.48%
960,978.02
142.66
38,731.30
33.27
243,869.82
48.24
394,339.34
53.64
1,036,661.86
135.52
116,393.33
26.65
1,012,493.72
184.14
497,392.03
27.91
884,959.53
469.16
1,984,394.38
1,224.73
1,635,325.44
975.33
736,149.92
138.42
1,001,943.96
1,065.90
547,333.82
90.49
537,003.76
93.27
295,859.93
253.70
1,927,262.91
337.04
0.34% Aaa / AAA
(11,641.13) NR
0.01% Aaa / AAA
(53.66) NR
0.09% Aaa / AAA
(2,794.45) NR
0.14% NR/AAA
(7,136.19) AAA
0.37% Aaa / NR
(19,347.87) AAA
0.04% Aaa / NR
(1,165.56) AAA
0.36% NR/AAA
(23,287.54) AAA
0.18% Aaa / NR
(10,095.12) AAA
0.31% Aaa / AAA
(25,031.12) NR
0.71% NR/AAA
(60,435.33) AAA
0.58% Aaa / NR
(44,667.49) AAA
0.26% NR/AAA
(18,799.18) AAA
0.36% NR / AAA
(17,992.82) AAA
0.19% Aaa / NR
(18,165.16) AAA
0.19% NR/AAA
(15,218.30) AAA
0.11% Aaa / AAA
866.54 NR
0.69% NR/AAA
(68,152.97) AAA
1.22
0.21
1.29
0.03
1.55
0.23
1.55
0.35
1.56
0.36
1.63
0.22
1.63
0.42
1.74
0.36
1.80
0.62
1.90
0.83
1.97
0.76
1.99
0.55
2.22
0.99
2.46
0.61
2.46
0.56
2.66
1.51
2.80
0.67
30 CM
102
Holdings Report
City of Dublin - Account #10198
As of March 31, 2023
CUSIP
Security Description
Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port. Moody/S&P Maturity
Gain/Loss Fitch Duration
43815GAC3
47789QAC4
44935FAD6
43815BAC4
05602RAD3
362554AC1
47787JAC2
448977AD0
380146AC4
362585AC5
47800AAC4
02582JJT8
47800BAC2
92348KAV5
58768PAC8
TOTAL ABS
Honda Auto Receivables Trust 2021-4A3
0.880% Due 01/21/2026
John Deere Owner Trust 2021-B A3
0.520% Due 03/16/2026
Hyundai Auto Receivables Trust 2021-CA3
0.740% Due 05/15/2026
Honda Auto Receivables Trust 2022-1 A3
1.880% Due 05/15/2026
BMW Vehicle Owner Trust 2022-A A3
3.210% Due 08/25/2026
GM Financial Securitized Term 2021-4A3
0.680% Due 09/16/2026
John Deere Owner Trust 2022-AA3
2.320% Due 09/16/2026
Hyundai Auto Receivables Trust 2022-AA3
2.220% Due 10/15/2026
GM Financial Auto Receivables 2022-1 A3
1.260% Due 11/16/2026
GM Financial Securitized ART 2022-2 A3
3.100% Due 02/16/2027
John Deere Owner Trust 2022-B A3
3.740% Due 02/16/2027
American Express Credit Trust 2022-2 A
3.390% Due 05/17/2027
John Deere Owner Trust 2022-C A3
5.090% Due 06/15/2027
Verizon Master Trust 2022-5 A1A
3.720% Due 07/20/2027
Mercedes-Benz Auto Receivables 2022-1 A3
5.210% Due 08/16/2027
765,000.00
965,000.00
545,000.00
1,315,000.00
850,000.00
585,000.00
1,005,000.00
1,080,000.00
500,000.00
780, 000.00
1,045,000.00
2,205,000.00
1,350,000.00
915, 000.00
2,790,000.00
30,889,889.82
11/16/2021
0.89%
07/13/2021
0.52%
11/09/2021
0.75%
02/15/2022
1.89%
05/10/2022
3.23%
10/13/2021
0.66%
03/10/2022
2.34%
03/09/2022
2.23%
01/11/2022
1.23%
04/05/2022
3.13%
07/12/2022
3.77%
05/17/2022
3.42%
10/12/2022
5.15%
08/02/2022
3.75%
11/15/2022
5.28%
2.21%
764,838.74
764,905.83
964,913.92
964,953.89
544,878.36
544,931.02
1,314,802.22
1,314,869.77
849,955.80
849,968.19
584,985.08
584,991.41
1,004,777.69
1,004,843.91
1,079,958.42
1,079,971.77
499,956.55
499,972.20
779,836.98
779,882.94
1,044,900.20
1,044,919.69
2,204,512.25
2,204,652.25
1,349,895.24
1,349,908.11
914,959.74
914,969.00
2,789,448.14
2,789,504.63
30,885,930.52
30,887,455.03
95.51
5.26%
95.67
5.59%
95.40
5.49%
95.88
4.95%
97.71
4.90%
94.86
5.77%
96.65
5.05%
96.14
5.00%
95.01
5.68%
96.84
5.16%
98.07
4.89%
97.66
4.60%
100.81
4.74%
98.64
5.10%
101.01
4.73%
5.23%
730,649.97
187.00
923,181.73
223.02
519,940.36
179.24
1,260,772.03
1,098.76
830,571.55
454.75
554,955.57
165.75
971,363.66
1,036.27
1,038,268.80
1,065.60
475,065.00
262.50
755,324.70
1,007.50
1,024,860.76
1,737.02
2,153, 336.85
3,322.20
1,360,957.95
3,054.00
902,512.08
1,040.05
2,818,298.97
6,460.40
30,171,153.05
26,594.13
0.26%
(34,255.86)
0.33%
(41,772.16)
0.18%
(24,990.66)
0.45%
(54,097.74)
0.30%
(19,396.64)
0.20%
(30,035.84)
0.35%
(33,480.25)
0.37%
(41,702.97)
0.17%
(24,907.20)
0.27%
(24,558.24)
0.36%
(20,058.93)
0.77%
(51,315.40)
0.48%
11,049.84
0.32%
(12,456.92)
1.00%
28,794.34
10.73%
(716,301.98)
Aaa / NR
AAA
Aaa / NR
AAA
NR / AAA
AM
Aaa / AAA
NR
Aaa / AAA
NR
Aaa / AAA
NR
Aaa / NR
AAA
NR/AAA
AAA
NR/AAA
AAA
Aaa / AAA
NR
Aaa / NR
AAA
NR/AAA
AAA
Aaa / NR
AAA
NR / AAA
AM
Aaa / AAA
NR
Aaa / AAA
AAA
2.81
1.03
2.96
0.86
3.13
0.97
3.13
1.36
3.41
1.38
3.47
1.02
3.47
1.24
3.55
1.41
3.63
1.14
3.88
1.56
3.88
1.72
4.13
1.99
4.21
1.98
4.31
1.32
4.38
1.86
2.96
1.12
Agency
3133EKZK5 FFCB Note
1.600% Due 08/14/2023
4,000,000.00
08/26/2019 4,009,000.00
1.54% 4,000,839.09
98.83
3,953,208.00
1.41% Aaa / AA+ 0.37
4.81% 8,355.56 (47,631.09) AAA
0.36
31 CM
103
Holdings Report
City of Dublin - Account #10198
As of March 31, 2023
CUSIP Security Description
Par Value/Units
Purchase Date Cost Value Mkt Price Market Value % of Port. Moody/S&P Maturity
Book Yield Book Value Mkt YTM Accrued Int. Gain/Loss Fitch Duration
313383YJ4
3130A0F70
3135G0V34
3130A1XJ2
3133EKWV4
3130A2 U W 4
3135G0W66
3133ENZ94
3135G0X24
3137EAEPO
3135G03U5
3135G04Z3
3137EAEU9
3135G05X7
3137EAEX3
3135G06G3
3130ATUC9
FHLB Note
3.375% Due 09/08/2023
FHLB Note
3.375% Due 12/08/2023
FNMA Note
2.500% Due 02/05/2024
FHLB Note
2.875% Due 06/14/2024
FFCB Note
1.850% Due 07/26/2024
FHLB Note
2.875% Due 09/13/2024
FNMA Note
1.625% Due 10/15/2024
FFCB Note
4.500% Due 11/18/2024
FNMA Note
1.625% Due 01/07/2025
FHLMC Note
1.500% Due 02/12/2025
FNMA Note
0.625% Due 04/22/2025
FNMA Note
0.500% Due 06/17/2025
FHLMC Note
0.375% Due 07/21/2025
FNMA Note
0.375% Due 08/25/2025
FHLMC Note
0.375% Due 09/23/2025
FNMA Note
0.500% Due 11/07/2025
FHLB Note
4.500% Due 12/12/2025
5,000,000.00
5,000,000.00
2,000,000.00
3, 795, 000.00
2, 500, 000.00
2,000,000.00
2,000,000.00
5,480,000.00
4,200,000.00
4,200,000.00
1,825,000.00
3,435,000.00
1,745,000.00
2,755,000.00
2,655,000.00
2,860,000.00
4,000,000.00
Various
2.90%
Various
2.73%
02/27/2019
2.58%
Various
1.96%
08/13/2019
1.65%
10/10/2019
1.58%
11/08/2019
1.80%
11/15/2022
4.56%
Various
1.18%
Various
1.23%
04/22/2020
0.67%
06/17/2020
0.54%
07/21/2020
0.48 %
08/25/2020
0.47%
09/23/2020
0.44%
11/09/2020
0.57%
02/09/2023
4.22%
5,102,615.00
5,009,568.35
5,147,870.00
5,020,662.70
1,992,340.00
1,998,682.97
3,958,639.85
3,834,496.22
2,524,140.00
2,506,435.55
2,122,020.00
2,036,015.91
1,983,400.00
1,994,805.00
5,474,191.20
5,475,256.01
4,287,898.80
4,232,203.29
4,254,786.30
4,220,738.17
1,821,240.50
1,823,450.03
3,427,889.55
3,431,850.20
1,736,309.90
1,740,988.45
2,742,106.60
2,748,800.71
2,647,008.45
2,651,030.51
2,849,761.20
2,854,652.88
4,029,238.40
4,027,827.28
99.37
4.83%
99.01
4.85%
98.10
4.82%
98.11
4.50%
96.28
4.79%
98.07
4.26%
96.09
4.28%
100.20
4.37%
95.59
4.24%
95.19
4.21%
92.98
4.22%
92.41
4.13%
92.00
4.04%
91.55
4.11%
91.36
4.08%
91.49
3.98%
100.75
4.20%
4,968,690.00
10,781.25
4,950,545.00
52,968.75
1,961,968.00
7,777.78
3,723,301.07
32,428.80
2,407,077.50
8,350.69
1,961,428.00
2,875.00
1,921,794.00
14,986.11
5,490,724.36
91,105.00
4,014,922.80
15,925.00
3,997,967.41
8,575.00
1,696,808.35
5,037.76
3,174, 321.29
4,961.67
1,605,452.35
1,272.40
2,522,298.93
1,033.13
2,425,621.28
221.25
2,616,639.74
5,720.00
4,029,944.00
74,000.00
1.77%
(40,878.35)
1.78%
(70,117.70)
0.70%
(36,714.97)
1.34%
(111,195.15)
0.86%
(99,358.05)
0.70%
(74,587.91)
0.69%
(73,011.00)
1.98%
15,468.35
1.43%
(217,280.49)
1.42%
(222,770.76)
0.60%
(126,641.68)
1.13%
(257,528.91)
0.57%
(135,536.10)
0.90%
(226,501.78)
0.86%
(225,409.23)
0.93%
(238,013.14)
1.46%
2,116.72
Aaa / AA+
NR
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
NR
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
NR
0.44
0.43
0.69
0.66
0.85
0.82
1.21
1.16
1.32
1.27
1.46
1.40
1.55
1.48
1.64
1.53
1.78
1.71
1.87
1.80
2.06
2.00
2.22
2.15
2.31
2.25
2.41
2.34
2.48
2.42
2.61
2.53
2.70
2.47
32 CM
104
Holdings Report
City of Dublin - Account #10198
As of March 31, 2023
CUSIP
Security Description
Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port. Moody/S&P Maturity
Gain/Loss Fitch Duration
3130ATS57
TOTAL Agency
FHLB Note
4.500% Due 03/10/2028
CMO
3137BFE98 FHLMC K041 A2
3.171% Due 10/25/2024
3137BSRE5 FHLMC K059 A2
3.120% Due 09/25/2026
TOTAL CMO
3,000,000.00
62,450,000.00
2,000,000.00
2,000,000.00
4,000,000.00
03/21/2023
4.01%
2.08%
07/01/2021
0.72%
02/18/2022
1.98%
1.35%
3,065,010.00
3,064,651.82
63,175,465.75
62,672,955.14
2,151,406.25
2,070,323.21
2,085,625.00
2,064,815.53
4,237,031.25
4,135,138.74
103.16 3,094,923.00 1.10%
3.79% 7,875.00 30,271.18
60,517,635.08 21.64%
4.38% 354,250.15 (2,155,320.06)
97.50
4.85%
96.22
4.30%
4.57%
1,949,936.00
5,285.00
1,924,406.00
5,200.00
3,874,342.00
10,485.00
0.69%
(120,387.21)
0.69%
(140,409.53)
1.38%
(260,796.74)
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AAA
AAA
NR/AAA
AAA
Aaa / AAA
AAA
4.95
4.40
1.74
1.65
1.57
1.40
3.49
3.14
2.53
2.26
Corporate
69353RFL7
06406RAJ6
89114QCB2
037833CU2
023135BW5
24422ETT6
02665 W CZ2
79466LAG9
78013XZU5
PNC Bank Callable Note Cont 5/9/2023
3.500% Due 06/08/2023
Bank of NY Mellon Corp Note
3.450% Due 08/11/2023
Toronto Dominion Bank Note
3.250% Due 03/11/2024
Apple Inc Callable Note Cont 3/11/2024
2.850% Due 05/11/2024
Amazon.com Inc Note
0.450% Due 05/12/2024
John Deere Capital Corp Note
2.650% Due 06/24/2024
American Honda Finance Note
2.400% Due 06/27/2024
Salesforce.com Inc Callable Note Cont 7/15/2022
0.625% Due 07/15/2024
Royal Bank of Canada Note
2.550% Due 07/16/2024
1,210,000.00
1,200,000.00
2,300,000.00
3,000,000.00
1,865,000.00
2,000,000.00
1,500,000.00
465,000.00
2,500,000.00
Various
3.53%
08/24/2018
3.42%
03/26/2019
2.95%
Various
2.56%
05/10/2021
0.50%
Various
1.32%
07/10/2019
2.49%
06/29/2021
0.64%
09/10/2019
2.28%
1,208,333.27
1,209,937.82
1,201,836.00
1,200,133.97
2,331,234.00
2,305,953.44
3,038,334.00
3,007,814.66
1,862,277.10
1,863,988.85
2,093,680.00
2,031,863.33
1,493,742.00
1,498,435.50
464,762.85
464,898.36
2,531,325.00
2,508,358.06
99.53
6.01%
99.32
5.35%
97.92
5.54%
98.31
4.43%
95.84
4.31%
97.48
4.78%
97.03
4.90%
94.98
4.68%
96.74
5.18%
1,204,256.13
13,293.20
1,191, 801.60
5,750.00
2,252,208.30
4,152.78
2,949,162.00
33,250.00
1,787,449.57
3,240.44
1,949,620.00
14,280.56
1,455,471.00
9,400.00
441,651.42
613.54
2,418,620.00
13,281.25
0.43%
(5,681.69)
0.43%
(8,332.37)
0.80%
(53,745.14)
1.06%
(58,652.66)
0.64%
(76,539.28)
0.70%
(82,243.33)
0.52%
(42,964.50)
0.16%
(23,246.94)
0.86%
(89,738.06)
A2 / A
A+
Al/A
AA-
A1/A
AA-
Aaa / AA+
NR
Al/AA
AA-
A2 / A
A+
A3/A-
A
A2/A+
NR
Al/A
AA-
0.19
0.18
0.36
0.35
0.95
0.91
1.12
1.07
1.12
1.09
1.24
1.18
1.24
1.19
1.29
1.25
1.30
1.24
33 CM
105
Holdings Report
City of Dublin - Account #10198
As of March 31, 2023
CUSIP Security Description
Par Value/Units
Purchase Date Cost Value Mkt Price Market Value % of Port. Moody/S&P Maturity
Book Yield Book Value Mkt YTM Accrued Int. Gain/Loss Fitch Duration
46647PAU0
02665 W EA5
90331HPL1
00440EAS6
14913R2V8
747525AF0
61747YEA9
438516CB0
78015K7H1
66815L2J7
02665 W D L2
89114QCK2
06051GHY8
46647PBH8
808513BR5
JP Morgan Chase & Co Callable Note 1X 7/23/2023
3.797% Due 07/23/2024
American Honda Finance Note
1.500% Due 01/13/2025
US Bank NA Callable Note Cont 12/21/2024
2.050% Due 01/21/2025
Chubb INA Holdings Inc Note
3.150% Due 03/15/2025
Caterpillar Financial Service Note
3.400% Due 05/13/2025
Qualcomm Inc Callable Note Cont 2/20/2025
3.450% Due 05/20/2025
Morgan Stanley Callable Note Cont 5/30/2024
0.790% Due 05/30/2025
Honeywell Intl Callable Note Cont 5/1/2025
1.350% Due 06/01/2025
Royal Bank of Canada Note
1.150% Due 06/10/2025
Northwestern Mutual Gib! Note
4.000% Due 07/01/2025
American Honda Finance Note
1.200% Due 07/08/2025
Toronto Dominion Bank Note
0.750% Due 09/11/2025
Bank of America Corp Callable Note Cont 2/13/2025
2.015% Due 02/13/2026
JP Morgan Chase & Co Callable Note Mthly 3/13/2025
2.005% Due 03/13/2026
Charles Schwab Corp Callable Note Cont 4/13/2026
1.150% Due 05/13/2026
2,500,000.00
1,075,000.00
2,610,000.00
2,500,000.00
1,165,000.00
3,000,000.00
3,040,000.00
2,500,000.00
1,000,000.00
2,500,000.00
1,000,000.00
1,000,000.00
1,250,000.00
1,000,000.00
1,370,000.00
09/12/2019
2.35%
01/11/2022
1.53%
01/16/2020
2.10%
Various
0.76%
05/10/2022
3.44%
Various
1.78%
05/26/2021
0.77%
06/23/2020
0.85%
02/22/2021
0.86%
06/27/2022
4.01%
08/10/2021
1.00%
02/16/2021
0.81%
03/04/2021
1.14%
04/29/2021
1.20%
05/11/2021
1.20%
2,632,175.00
2,510,622.88
1,074,150.75
1,074,494.01
2,604,440.70
2,607,988.67
2,753,600.00
2,614,728.57
1,163, 520.45
1,163,956.49
3,159,848.58
3,103, 218.14
3, 041, 611.70
3,040,626.12
2,559,500.00
2,525,567.19
1, 012, 240.00
1,006,256.69
2,499,150.00
2,499,362.50
1, 007, 640.00
1,004,441.49
997,230.00
998,513.58
1,291,725.00
1,269,846.94
1,030,270.00
1,015,252.82
1,366,821.60
1,368,019.16
99.48
5.43%
94.60
4.69%
94.19
5.47%
97.55
4.47%
97.96
4.42%
98.15
4.36%
94.66
5.40%
93.83
4.37%
92.01
5.04%
98.53
4.69%
92.66
4.64%
90.15
5.09%
93.69
5.61%
94.24
5.14%
87.79
5.46%
2,487,032.50
17,930.28
1,016,953.23
3,493.75
2,458,411.20
10,403.75
2,438,827.50
3,500.00
1,141, 224.68
15,183.83
2,944,641.00
37,662.50
2,877,572.80
8,072.05
2,345,677.50
11,250.00
920,140.00
3,545.83
2,463,367.50
25,000.00
926,648.00
2,766.67
901,517.00
416.67
1,171,126.25
3,358.33
942,449.00
1,002.50
1,202,705.19
6,039.42
0.89%
(23,590.38)
0.36%
(57,540.78)
0.88%
(149,577.47)
0.87%
(175,901.07)
0.41%
(22,731.81)
1.06%
(158,577.14)
1.03%
(163,053.32)
0.84%
(179,889.69)
0.33%
(86,116.69)
0.88%
(35,995.00)
0.33%
(77,793.49)
0.32%
(96,996.58)
0.42%
(98,720.69)
0.34%
(72,803.82)
0.43%
(165,313.97)
Al/A-
AA-
A3/A-
A
Al / AA-
AA-
A3 / A
A
A2 / A
A
A2 / A
NR
Al/A-
A+
A2 / A
A
Al/A
AA-
Aaa / AA+
AAA
A3/A-
A
Al/A
AA-
A2/A-
AA-
A1/A-
AA-
A2 / A
A
1.32
0.31
1.79
1.72
1.81
1.73
1.96
1.87
2.12
1.99
2.14
2.01
2.17
2.07
2.17
2.09
2.20
2.11
2.25
2.10
2.27
2.19
2.45
2.36
2.88
1.79
2.95
1.87
3.12
2.97
34 CM
106
Holdings Report
City of Dublin - Account #10198
As of March 31, 2023
CUSIP Security Description
Par Value/Units
Purchase Date Cost Value Mkt Price Market Value % of Port. Moody/S&P Maturity
Book Yield Book Value Mkt YTM Accrued Int. Gain/Loss Fitch Duration
91324PEC2
89236TJK2
58989V2D5
06368FAC3
931142ER0
59217GER6
87612EBM7
808513BY0
084664CZ2
40139LBF9
023135CF1
46647PCB0
927804GH1
United Health Group Inc Callable Note Cont 4/15/2026
1.150% Due 05/15/2026
Toyota Motor Credit Corp Note
1.125% Due 06/18/2026
Met Tower Global Funding Note
1.250% Due 09/14/2026
Bank of Montreal Note
1.250% Due 09/15/2026
Wal-Mart Stores Callable Note Cont 08/17/2026
1.050% Due 09/17/2026
Metlife Note
1.875% Due 01/11/2027
Target Corp Callable Note Cont 12/15/2026
1.950% Due 01/15/2027
Charles Schwab Corp Callable Note Cont 2/3/2027
2.450% Due 03/03/2027
Berkshire Hathaway Callable Note Cont 2/15/2027
2.300% Due 03/15/2027
Guardian Life Glob Fun Note
3.246% Due 03/29/2027
Amazon.com Inc Callable Note Cont 3/13/2027
3.300% Due 04/13/2027
JP Morgan Chase & Co Callable Note Cont 4/22/2026
1.578% Due 04/22/2027
Virginia Electric Power Corp Callable Note Cont.
4/15/2027
3.750% Due 05/15/2027
14913R3A3 Caterpillar Financial Service Note
3.600% Due 08/12/2027
931142EX7 Wal-Mart Stores Callable Note Cont 09/09/2027
3.950% Due 09/09/2027
2,000,000.00
2,485,000.00
1,285,000.00
2,500,000.00
585,000.00
1,860,000.00
1,340,000.00
585,000.00
2,295,000.00
765,000.00
1,750,000.00
500,000.00
1,000,000.00
1,375,000.00
1,500,000.00
Various
1.90%
06/15/2021
1.13%
09/07/2021
1.27%
Various
1.29%
09/08/2021
1.09%
01/03/2022
1.90%
01/19/2022
1.99%
03/01/2022
2.47%
03/07/2022
2.30%
03/24/2022
3.25%
04/25/2022
3.34%
08/23/2022
4.85%
Various
3.75%
1,939,210.15
1,954,872.98
2,483,906.60
2,484,297.01
1,283,817.80
1,284,182.95
2,495,539.50
2,496,914.78
583,894.35
584,234.04
1,857,879.60
1,858,396.35
1,337,722.00
1,338,263.60
584,368.20
584,504.52
2,294,563.95
2,294,655.17
765,000.00
765,000.00
1,746,972.50
1,747,538.90
449, 845.00
456,302.35
999,773.40
999,806.38
90.93
4.29%
90.18
4.44%
88.74
4.83%
88.38
4.95%
90.15
4.13%
89.36
5.00%
92.44
4.13%
89.57
5.44%
94.68
3.76%
94.52
4.77%
96.76
4.18%
89.85
5.21%
97.00
4.56%
1,818,500.00
8,688.89
2,240,871.12
7,998.59
1,140, 293.58
758.51
2,209,412.50
1,388.89
527,356.44
238.88
1,662,049.50
7,750.00
1,238,683.94
5,516.33
523,988.60
1,114.75
2,172, 855.51
2,346.00
723,088.71
137.96
1,693,237.00
26,950.00
449,237.00
3,484.75
969,987.00
14,166.67
0.65%
(136,372.98)
0.80%
(243,425.89)
0.41%
(143,889.37)
0.79%
(287,502.28)
0.19%
(56,877.60)
0.59%
(196,346.85)
0.44%
(99,579.66)
0.19%
(60,515.92)
0.77%
(121,799.66)
0.26%
(41,911.29)
0.61%
(54,301.90)
0.16%
(7,065.35)
0.35%
(29,819.38)
A3/A+
A
Al/A+
A+
Aa3 / AA-
AA-
A2/A-
AA-
Aa2 / AA
AA
Aa3 / AA-
AA-
A2 / A
A
A2 / A
A
Aa2 / AA
A+
Aa1 / AA+
NR
Al/AA
AA-
A1/A-
AA-
A2 / BBB+
A
3.13
2.99
3.22
3.08
3.46
3.30
3.46
3.30
3.47
3.33
3.79
3.55
3.80
3.58
3.93
3.65
3.96
3.72
4.00
3.68
4.04
3.67
4.06
2.90
4.13
3.71
Various 1,357,243.75 97.84 1,345,353.63 0.48% A2 / A 4.37
3.89% 1,359,249.37 4.14% 6,737.50 (13,895.74) A 3.97
Various 1,498,302.30 99.88 1,498,164.00 0.53% Aa2 / AA 4.45
3.98% 1,498,491.97 3.98% 3,620.83 (327.97) AA 3.96
35 CM
107
Holdings Report
City of Dublin - Account #10198
As of March 31, 2023
CUSIP
Security Description
Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port. Moody/S&P Maturity
Gain/Loss Fitch Duration
89236TKJ3
023135CP9
24422 E W R6
06051GGFO
91324PEP3
Toyota Motor Credit Corp Note
4.550% Due 09/20/2027
Amazon.com Inc Callable Note Cont 11/1/2027
4.550% Due 12/01/2027
John Deere Capital Corp Note
4.750% Due 01/20/2028
Bank of America Corp Callable Note 1/20/2027
3.824% Due 01/20/2028
United Health Group Inc Callable Note Cont 1/15/2028
5.250% Due 02/15/2028
TOTAL Corporate
Money Market Fund
I
31846V203 First American Govt Obligation Fund Class Y
TOTAL Money Market Fund
Supranational
4581XODZ8 Inter -American Dev Bank Note
0.500% Due 09/23/2024
459058JB0 Intl. Bank Recon & Development Note
0.625% Due 04/22/2025
4581X0DN5 Inter -American Dev Bank Note
0.625% Due 07/15/2025
459058JL8 Intl. Bank Recon & Development Note
0.500% Due 10/28/2025
4581X0DV7 Inter -American Dev Bank Note
0.875% Due 04/20/2026
1,500,000.00
1,000,000.00
2,000,000.00
3,000,000.00
1,500,000.00
74,375,000.00
760,480.95
760,480.95
3,680,000.00
2,260,000.00
1,685,000.00
6,000,000.00
4,615,000.00
TOTAL Supranational 18,240,000.00
11/22/2022
4.88%
01/17/2023
4.21%
01/23/2023
4.40%
Various
5.80%
02/21/2023
4.90%
2.38%
Various
4.32%
4.32%
09/15/2021
0.52%
04/15/2020
0.70%
01/13/2021
0.53%
Various
0.55%
04/13/2021
0.97%
0.67%
1,479,060.00
1,480,571.01
1,014,400.00
1,013,806.53
2,030,780.00
2,029,664.42
2,824,349.55
2,825,537.13
1,522,890.00
1,522,416.06
74,968,966.65
74,472,984.76
760,480.95
760,480.95
760,480.95
760,480.95
3,677,276.80
3,678,655.79
2,251,253.80
2,256,398.06
1,692,329.75
1,688,731.83
5,986,632.00
5,992,738.20
4,593,863.30
4,602,093.42
18,201,355.65
18,218,617.30
100.53
4.42%
101.51
4.18%
102.10
4.26%
95.54
5.12%
103.98
4.32%
4.75%
1.00
4.32%
4.32%
1,508,004.00
2,085.42
1,015,102.00
15,166.67
2,042,000.00
21,638.89
2,866,212.00
22,625.34
1,559,742.00
10,062.50
71,092,671.90
409,364.72
760,480.95
0.00
760,480.95
0.00
94.54 3,479,016.80
4.36% 408.89
93.20 2,106,277.06
4.10% 6,238.54
92.65 1,561,194.63
4.02% 2,223.26
91.64 5,498,160.00
3.95% 12,750.00
91.35 4,215,747.12
3.91% 18,059.39
16,860,395.61
4.05% 39,680.08
0.54%
27,432.99
0.37%
1,295.47
0.73%
12,335.58
1.03%
40,674.87
0.56%
37,325.94
25.42%
(3,380,312.86)
0.27%
0.00
0.27%
0.00
1.24%
(199,638.99)
0.75 %
(150,121.00)
0.56%
(127,537.20)
1.96%
(494,578.20)
1.50%
(386,346.30)
6.01%
(1,358,221.69)
Al/A+
A+
Al/AA
AA-
A2 / A
A+
A2 / A-
AA-
A3 /
A
Al / A+
A+
Aaa / AAA
AAA
Aaa / AAA
AAA
Aaa / AAA
NR
Aaa / AAA
NR
Aaa / AAA
NR
Aaa / AAA
AAA
Aaa / AAA
AAA
Aaa / AAA
AAA
4.48
4.00
4.67
4.05
4.81
4.22
4.81
3.46
4.88
4.19
2.69
2.39
0.00
0.00
0.00
0.00
1.48
1.44
2.06
2.00
2.29
2.23
2.58
2.51
3.06
2.95
2.38
2.31
36 a
108
Holdings Report
City of Dublin - Account #10198
As of March 31, 2023
Security Description Par Value/Units
Purchase Date Cost Value Mkt Price Market Value % of Port. Moody/S&P Maturity
Book Yield Book Value Mkt YTM Accrued Int. Gain/Loss Fitch Duration
US Treasury
912828V80 US Treasury Note
2.250% Due 01/31/2024
912828WJ5 US Treasury Note
2.500% Due 05/15/2024
9128282N9 US Treasury Note
2.125% Due 07/31/2024
912828YH7 US Treasury Note
1.500% Due 09/30/2024
9128283J7 US Treasury Note
2.125% Due 11/30/2024
91282CDZ1 US Treasury Note
1.500% Due 02/15/2025
912828ZC7 US Treasury Note
1.125% Due 02/28/2025
91282CED9 US Treasury Note
1.750% Due 03/15/2025
912828ZL7 US Treasury Note
0.375% Due 04/30/2025
91282CFE6 US Treasury Note
3.125% Due 08/15/2025
91282CAM3 US Treasury Note
0.250% Due 09/30/2025
91282CFP1 US Treasury Note
4.250% Due 10/15/2025
91282CBC4 US Treasury Note
0.375% Due 12/31/2025
91282CBH3 US Treasury Note
0.375% Due 01/31/2026
91282CBQ3 US Treasury Note
0.500% Due 02/28/2026
91282CBT7 US Treasury Note
0.750% Due 03/31/2026
91282CCF6 US Treasury Note
0.750% Due 05/31/2026
1,000,000.00 Various 996,738.29
2.32% 999,434.28
1,750,000.00 06/10/2019 1,798,261.72
1.91% 1,760,992.95
2,000,000.00 08/30/2019 2,064,531.25
1.44% 2,017,488.44
3,500,000.00 Various 3,474,941.41
1.65% 3,492,244.51
3,000,000.00 Various 3,051,650.40
1.76% 3,017,366.58
2,000,000.00 05/06/2022 1,925,156.25
2.92% 1,949,316.08
3,500,000.00 03/24/2020 3,603,222.66
0.52% 3,540,062.54
2,000,000.00 03/15/2022 1,985,312.50
2.00% 1,990,422.95
4,000,000.00 Various 3,998,593.75
0.38% 3,999,399.57
3,000,000.00 Various 2,905,703.13
4.34% 2,919,160.45
2,500,000.00 10/16/2020 2,491,406.25
0.32% 2,495,657.94
10,000,000.00 Various 10,002,724.61
4.24% 10,002,797.04
1,000,000.00 12/29/2020 999,921.88
0.38% 999,957.00
4,000,000.00 02/23/2021 3,960,625.00
0.58% 3,977,362.65
2,500,000.00 03/26/2021 2,459,960.94
0.83% 2,476,292.96
5,000,000.00 Various 4,974,804.69
0.85% 4,984,840.38
2,000,000.00 06/18/2021 1,985,000.00
0.91% 1,990,393.35
97.96 979,570.00 0.35% Aaa /AA+
4.77% 3,729.28 (19,864.28) AAA
97.80 1,711,445.75 0.61% Aaa / AA+
4.53% 16,557.32 (49,547.20) AAA
97.06 1,941,250.00 0.69% Aaa / AA+
4.41% 7,044.20 (76,238.44) AAA
95.95 3,358,222.00 1.19% Aaa / AA+
4.32% 143.45 (134,022.51) AAA
96.64 2,899,335.00 1.04% Aaa / AA+
4.23% 21,366.76 (118,031.58) AAA
95.27 1,905,312.00 0.68% Aaa / AA+
4.14% 3,729.28 (44,004.08) AAA
94.55 3,309,414.50 1.18% Aaa / AA+
4.11% 3,423.91 (230,648.04) AAA
95.65 1,912,968.00 0.68% Aaa / AA+
4.09% 1,616.85 (77,454.95) AAA
92.75 3,710,000.00 1.32% Aaa / AA+
4.04% 6,298.34 (289,399.57) AAA
98.12 2,943,633.00 1.05% Aaa / AA+
3.96% 11,654.01 24,472.55 AAA
91.51 2, 287, 792.50 0.81% Aaa / AA+
3.84% 17.08 (207,865.44) AAA
100.77 10, 077, 340.00 3.65% Aaa / AA+
3.93% 196,153.84 74,542.96 AAA
91.15 911,484.00 0.32% Aaa/AA+
3.79% 942.68 (88,473.00) AAA
90.78 3, 631, 092.00 1.29% Aaa / AA+
3.84% 2,486.19 (346,270.65) AAA
90.89 2,272,167.50 0.81% Aaa /AA+
3.83% 1,086.96 (204,125.46) AAA
91.49 4,574,415.00 1.63% Aaa / AA+
3.78% 102.46 (410,425.38) AAA
90.96 1,819,218.00 0.65% Aaa / AA+
3.81% 5,027.47 (171,175.35) AAA
0.84
0.81
1.13
1.08
1.34
1.29
1.50
1.46
1.67
1.60
1.88
1.82
1.92
1.86
1.96
1.89
2.08
2.03
2.38
2.26
2.50
2.45
2.55
2.34
2.76
2.69
2.84
2.77
2.92
2.84
3.00
2.92
3.17
3.07
37 CM
109
Holdings Report
City of Dublin - Account #10198
As of March 31, 2023
CUSIP
Security Description
Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port. Moody/S&P Maturity
Gain/Loss Fitch Duration
91282CCW9
91282CDG3
912828Z78
91282CEN7
91282CEW7
91282CFM8
91282CGC9
US Treasury Note
0.750% Due 08/31/2026
US Treasury Note
1.125% Due 10/31/2026
US Treasury Note
1.500% Due 01/31/2027
US Treasury Note
2.750% Due 04/30/2027
US Treasury Note
3.250% Due 06/30/2027
US Treasury Note
4.125% Due 09/30/2027
US Treasury Note
3.875% Due 12/31/2027
TOTAL US Treasury
TOTAL PORTFOLIO
TOTAL MARKET VALUE PLUS ACCRUALS
2,000,000.00
5,000,000.00
4,500,000.00
7,000,000.00
9,000,000.00
10,000,000.00
10,000,000.00
100,250,000.00
290,965,370.77
08/30/2021
0.77%
Various
1.25%
Various
2.15%
Various
3.55%
Various
3.21%
Various
3.95%
Various
3.70%
2.47%
1,998,515.63
1,998,985.49
4,970,498.06
4,978,404.58
4,367,285.16
4,393,721.22
6,761,484.38
6,790,627.16
9,018,066.41
9,011,919.19
10,074,062.50
10,069,656.59
10,078,828.13
10,075,984.60
99,947,295.00
99,932,488.50
292,176,525.77
2.21% 291,080,120.42
90.38
3.78%
91.21
3.77%
92.06
3.74%
96.38
3.71%
98.27
3.69%
101.88
3.67%
101.05
3.63%
3.87%
4.37%
1,807,500.00
1,304.35
4,560,350.00
23,618.78
4,142, 812.50
11,187.85
6,746,523.00
80,828.72
8,844,606.00
73,529.00
10,188, 280.00
1,127.04
10,105, 080.00
97,410.22
96,639,810.75
570,386.04
279,916,489.34
1,410,760.12
281,327,249.46
0.64%
(191,485.49)
1.63%
(418,054.58)
1.48%
(250,908.72)
2.43%
(44,104.16)
3.17%
(167, 313.19 )
3.62%
118,623.41
3.63%
29,095.40
34.55%
(3,292,677.75)
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
Aaa / AA+
AAA
100.00% Aa1 / AA
(11,163,631.08 AAA
3.42
3.31
3.59
3.44
3.84
3.66
4.08
3.77
4.25
3.90
4.50
4.08
4.76
4.27
3.22
3.01
2.67
2.29
38 CM
110
Holdings Report
City of Dublin Reporting Account - Account #10219
As of March 31, 2023
CUSIP
Security Description
Par Value/Units
Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port. Moody/S&P Maturity
Gain/Loss Fitch Duration
LAIF
90LAIF$00 Local Agency Investment Fund State Pool
TOTAL LAIF
Local Gov Investment Pool
90CAMP$00 California Asset Mgmt Program CAMP
TOTAL Local Gov Investment Pool
TOTAL PORTFOLIO
TOTAL MARKET VALUE PLUS ACCRUALS
25,917,595.50
25,917,595.50
80,625,561.52
80,625,561.52
106,543,157.02
Various 25,917,595.50
2.88% 25,917,595.50
25,917,595.50
2.88% 25,917,595.50
1.00
2.88%
2.88%
25,917,595.50
166,759.99
25,917,595.50
166,759.99
24.44% NR / NR
0.00 NR
24.44% NR / NR
0.00 NR
0.00
0.00
0.00
0.00
Various 80,625,561.52
4.92% 80,625,561.52
80,625,561.52
4.92% 80,625,561.52
106,543,157.02
4.42% 106,543,157.02
1.00
4.92%
4.92%
80,625,561.52
0.00
80,625,561.52
0.00
106,543,157.02
4.42% 166,759.99
106,709,917.01
75.56% NR/AAA
0.00 NR
75.56% NR / AAA
0.00 NR
100.00% NR / AAA
0.00 NR
0.00
0.00
0.00
0.00
0.00
0.00
39 CM
111
Section 5 I Transactions
40 a
112
Transaction Ledger
City of Dublin - Account #10198
December 31, 2022 through March 31, 2023
As of March 31, 2023
Transaction Settlement
Type Date
CUSIP Quantity Security Description
Price
Acq/Disp
Yield
Amount
Interest Total Amount Gain/Loss
Pur/Sold
ACQUISITIONS
Purchase 01/19/2023 023135CP9 1,000,000.00 Amazon.com Inc Callable Note Cont 11/1/2027 101.440 4.21% 1,014,400.00 6,066.67 1,020,466.67 0.00
4.55% Due: 12/01/2027
Purchase 01/25/2023 24422EWR6 2,000,000.00 John Deere Capital Corp Note 101.539 4.40% 2,030,780.00 4,222.22 2,035,002.22 0.00
4.75% Due: 01/20/2028
Purchase 01/27/2023 91282CGC9 5,000,000.00 US Treasury Note 101.148 3.62% 5,057,421.88 14,450.97 5,071,872.85 0.00
3.875% Due: 12/31/2027
Purchase 01/31/2023 91282CGC9 4,000,000.00 US Treasury Note 100.766 3.70% 4,030,625.00 13,273.48 4,043,898.48 0.00
3.875% Due: 12/31/2027
Purchase 02/10/2023 3130ATUC9 2,240,000.00 FHLB Note 100.738 4.22% 2,256,531.20 27,160.00 2,283,691.20 0.00
4.5% Due: 12/12/2025
Purchase 02/10/2023 3130ATUC9 1,760,000.00 FHLB Note 100.722 4.22% 1,772,707.20 21,340.00 1,794,047.20 0.00
4.5% Due: 12/12/2025
Purchase 02/15/2023 05593AAC3 295,000.00 BMW Vehicle Lease Trust 2023-1 A3 99.998 5.22% 294,992.98 0.00 294,992.98 0.00
5.16% Due: 11/25/2025
Purchase 02/17/2023 91282CEW7 1,000,000.00 US Treasury Note 96.410 4.16% 964,101.56 4,309.39 968,410.95 0.00
3.25% Due: 06/30/2027
Purchase 02/17/2023 91282CGC9 1,000,000.00 US Treasury Note 99.078 4.08% 990,781.25 5,138.12 995,919.37 0.00
3.875% Due: 12/31/2027
Purchase 02/23/2023 91324PEP3 1,500,000.00 United Health Group Inc Callable Note Cont 101.526 4.90% 1,522,890.00 1,750.00 1,524,640.00 0.00
1/15/2028
5.25% Due: 02/15/2028
Purchase 03/13/2023 06051GGFO 1,595,000.00 Bank of America Corp Callable Note 1/20/2027 93.531 5.94% 1,491,819.45 8,979.50 1,500,798.95 0.00
3.824% Due: 01/20/2028
Purchase 03/22/2023 3130ATS57 3,000,000.00 FHLB Note 102.167 4.01% 3,065,010.00 4,500.00 3,069,510.00 0.00
4.5% Due: 03/10/2028
41
113
Transaction Ledger
December 31,
2022 through March 31, 2023
City of Dublin - Account #10198
As of March 31, 2023
Transaction
Type
Settlement
Date
CUSIP
Quantity Security Description
Acq/Disp
Price
Yield
Amount
Interest
Pur/Sold Total Amount Gain/Loss
Purchase
Subtotal
03/30/2023
TOTAL ACQUISITIONS
06051GGF0
1,405,000.00 Bank of America Corp Callable Note 1/20/2027
3.824% Due: 01/20/2028
25,795,000.00
25,795,000.00
94.842
5.64%
1,332,530.10
10,446.96
1,342,977.06
25,824,590.62 121, 637.31 25,946, 227.93
25,824, 590.62 121, 637.31 25,946, 227.93
0.00
0.00
0.00
DISPOSITIONS
Sale
Sale
Sale
Sale
Sale
Subtotal
Call
Subtotal
01/25/2023 313383QR5
01/27/2023 912828V80
01/31/2023 912796Z85
02/10/2023 3137EAEN5
03/22/2023 3135G05G4
1, 500, 000.00
2,500,000.00
3,000,000.00
2,000,000.00
2,350,000.00
11,350,000.00
03/05/2023 06051GHF9 2,400,000.00
2,400,000.00
FHLB Note
3.25% Due: 06/09/2023
US Treasury Note
2.25% Due: 01/31/2024
US Treasury Bill
4.381% Due: 03/28/2023
FHLMC Note
2.75% Due: 06/19/2023
FNMA Note
0.25% Due: 07/10/2023
Bank of America Corp Callable Note 1X 3/5/2023
Due: 03/05/2024
99.396 2.87%
97.574 2.32%
99.299 4.51%
99.258 2.88%
98.600 0.32%
100.000 3.17%
1,490,940.00
2,439,355.47
2,978,962.67
1,985,160.00
2,317,100.00
6,229.17 1,497,169.17 -10,994.48
27,513.59 2,466,869.06 -58,933.47
0.00 2,978,962.67 -594.53
7,791.67 1,992,951.67 -14,004.87
1,175.00 2,318,275.00 -32,392.44
11,211,518.14 42,709.43 11,254,227.57 -116,919.79
2,400,000.00 0.00 2,400,000.00 0.00
2,400,000.00
0.00 2,400,000.00 0.00
42 CM
114
Transaction Ledger
City of Dublin - Account #10198
December 31, 2022 through March 31, 2023
As of March 31, 2023
Transaction Settlement
Type Date
CUSIP Quantity Security Description
Price
Acq/Disp
Yield
Amount
Interest Total Amount Gain/Loss
Pur/Sold
Maturity
Subtotal
01/30/2023
TOTAL DISPOSITIONS
62479 M N W 9
5,000,000.00 MUFG Bank Ltd/NY Discount CP
4.42% Due: 01/30/2023
5,000,000.00
18,750,000.00
99.227
5,000,000.00
0.00
5,000,000.00
0.00
5,000,000.00 0.00 5,000,000.00 0.00
18,611,518.14 42,709.43 18,654,227.57 -116,919.79
43 CM
115
Transaction Ledger
City of Dublin Reporting Account - Account #10219
December 31, 2022 through March 31, 2023
As of March 31, 2023
Transaction Settlement
Type Date
CUSIP Quantity Security Description
c
Price Aq/Disp
Yield
Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 01/15/2023 90LAIF$00 186,902.43 Local Agency Investment Fund State Pool
Purchase 01/31/2023 90CAMP$00 312,588.18 California Asset Mgmt Program CAMP
Purchase 02/28/2023 90CAMP$00 290,529.41 California Asset Mgmt Program CAMP
Purchase 03/31/2023 90CAMP$00 327,187.30 California Asset Mgmt Program CAMP
Subtotal 1,117,207.32
Security 01/03/2023 90CAMP$00 33,000,000.00 California Asset Mgmt Program CAMP
Contribution
Subtotal 33,000,000.00
TOTAL ACQUISITIONS 34,117,207.32
1.000 2.23%
1.000 4.56%
1.000 4.75%
1.000 4.92%
1.000
186,902.43
312,588.18
290,529.41
327,187.30
1,117,207.32
33,000,000.00
33,000,000.00
34,117,207.32
0.00
0.00
0.00
0.00
0.00
0.00
186,902.43
312,588.18
290,529.41
327,187.30
1,117,207.32
33,000,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00 33,000,000.00 0.00
0.00 34,117,207.32 0.00
DISPOSITIONS
Security 01/13/2023 90CAMP$00 9,500,000.00 California Asset Mgmt Program CAMP
Withdrawal
Subtotal 9,500,000.00
TOTAL DISPOSITIONS 9,500,000.00
1.000 9,500,000.00 0.00
9,500,000.00 0.00
9,500,000.00 0.00
9,500,000.00 0.00
9,500,000.00 0.00
9,500,000.00 0.00
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116
Important Disclosures
2023 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.
As of March 31, 2023
Information contained herein is confidential. Prices are provided by ICE Data Services Inc ("IDS"), an independent pricing source. In the event IDS 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.
Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does
not have any authority to withdraw or deposit funds from/to the custodian account.
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Benchmark Disclosures
As of March 31, 2023
ICE BofA 1-5 Yr US Treasury & Agency Index*
The ICE BofA 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.
The ICE BofA 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.
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118
Attachment 2
Transaction Ledger
City of Dublin - Account #10198
December 31, 2022 through March 31, 2023
As of March 31, 2023
Transaction Settlement
Type Date
CUSIP Quantity Security Description
Price
Acq/Disp
Yield
Amount
Interest Total Amount Gain/Loss
Pur/Sold
ACQUISITIONS
Purchase 01/19/2023 023135CP9 1,000,000.00 Amazon.com Inc Callable Note Cont 11/1/2027 101.440 4.21% 1,014,400.00 6,066.67 1,020,466.67 0.00
4.55% Due: 12/01/2027
Purchase 01/25/2023 24422EWR6 2,000,000.00 John Deere Capital Corp Note 101.539 4.40% 2,030,780.00 4,222.22 2,035,002.22 0.00
4.75% Due: 01/20/2028
Purchase 01/27/2023 91282CGC9 5,000,000.00 US Treasury Note 101.148 3.62% 5,057,421.88 14,450.97 5,071,872.85 0.00
3.875% Due: 12/31/2027
Purchase 01/31/2023 91282CGC9 4,000,000.00 US Treasury Note 100.766 3.70% 4,030,625.00 13,273.48 4,043,898.48 0.00
3.875% Due: 12/31/2027
Purchase 02/10/2023 3130ATUC9 2,240,000.00 FHLB Note 100.738 4.22% 2,256,531.20 27,160.00 2,283,691.20 0.00
4.5% Due: 12/12/2025
Purchase 02/10/2023 3130ATUC9 1,760,000.00 FHLB Note 100.722 4.22% 1,772,707.20 21,340.00 1,794,047.20 0.00
4.5% Due: 12/12/2025
Purchase 02/15/2023 05593AAC3 295,000.00 BMW Vehicle Lease Trust 2023-1 A3 99.998 5.22% 294,992.98 0.00 294,992.98 0.00
5.16% Due: 11/25/2025
Purchase 02/17/2023 91282CEW7 1,000,000.00 US Treasury Note 96.410 4.16% 964,101.56 4,309.39 968,410.95 0.00
3.25% Due: 06/30/2027
Purchase 02/17/2023 91282CGC9 1,000,000.00 US Treasury Note 99.078 4.08% 990,781.25 5,138.12 995,919.37 0.00
3.875% Due: 12/31/2027
Purchase 02/23/2023 91324PEP3 1,500,000.00 United Health Group Inc Callable Note Cont 101.526 4.90% 1,522,890.00 1,750.00 1,524,640.00 0.00
1/15/2028
5.25% Due: 02/15/2028
Purchase 03/13/2023 06051GGFO 1,595,000.00 Bank of America Corp Callable Note 1/20/2027 93.531 5.94% 1,491,819.45 8,979.50 1,500,798.95 0.00
3.824% Due: 01/20/2028
Purchase 03/22/2023 3130ATS57 3,000,000.00 FHLB Note 102.167 4.01% 3,065,010.00 4,500.00 3,069,510.00 0.00
4.5% Due: 03/10/2028
41
119
Transaction Ledger
December 31,
2022 through March 31, 2023
City of Dublin - Account #10198
As of March 31, 2023
Transaction
Type
Settlement
Date
CUSIP
Quantity Security Description
Acq/Disp
Price
Yield
Amount
Interest
Pur/Sold Total Amount Gain/Loss
Purchase
Subtotal
03/30/2023
TOTAL ACQUISITIONS
06051GGFO
1,405,000.00 Bank of America Corp Callable Note 1/20/2027
3.824% Due: 01/20/2028
25,795,000.00
25,795,000.00
94.842
5.64%
1,332,530.10
10,446.96
1,342,977.06
25,824,590.62 121, 637.31 25,946, 227.93
25,824, 590.62 121, 637.31 25,946, 227.93
0.00
0.00
0.00
DISPOSITIONS
Sale
Sale
Sale
Sale
Sale
Subtotal
Call
Subtotal
01/25/2023 313383QR5
01/27/2023 912828V80
01/31/2023 912796Z85
02/10/2023 3137EAEN5
03/22/2023 3135G05G4
1, 500, 000.00
2,500,000.00
3,000,000.00
2,000,000.00
2,350,000.00
11,350,000.00
03/05/2023 06051GHF9 2,400,000.00
2,400,000.00
FHLB Note
3.25% Due: 06/09/2023
US Treasury Note
2.25% Due: 01/31/2024
US Treasury Bill
4.381% Due: 03/28/2023
FHLMC Note
2.75% Due: 06/19/2023
FNMA Note
0.25% Due: 07/10/2023
Bank of America Corp Callable Note 1X 3/5/2023
Due: 03/05/2024
99.396 2.87%
97.574 2.32%
99.299 4.51%
99.258 2.88%
98.600 0.32%
100.000 3.17%
1,490,940.00
2,439,355.47
2,978,962.67
1,985,160.00
2,317,100.00
6,229.17 1,497,169.17 -10,994.48
27,513.59 2,466,869.06 -58,933.47
0.00 2,978,962.67 -594.53
7,791.67 1,992,951.67 -14,004.87
1,175.00 2,318,275.00 -32,392.44
11,211,518.14 42,709.43 11,254,227.57 -116,919.79
2,400,000.00 0.00 2,400,000.00 0.00
2,400,000.00
0.00 2,400,000.00 0.00
42 CM
120
Transaction Ledger
City of Dublin - Account #10198
December 31, 2022 through March 31, 2023
As of March 31, 2023
Transaction Settlement
Type Date
CUSIP Quantity Security Description
Price
Acq/Disp
Yield
Amount
Interest Total Amount Gain/Loss
Pur/Sold
Maturity
Subtotal
01/30/2023
TOTAL DISPOSITIONS
62479 M N W 9
5,000,000.00 MUFG Bank Ltd/NY Discount CP
4.42% Due: 01/30/2023
5,000,000.00
18,750,000.00
99.227
5,000,000.00
0.00
5,000,000.00
0.00
5,000,000.00 0.00 5,000,000.00 0.00
18,611,518.14 42,709.43 18,654,227.57 -116,919.79
43 CM
121
Transaction Ledger
City of Dublin Reporting Account - Account #10219
December 31, 2022 through March 31, 2023
As of March 31, 2023
Transaction Settlement
Type Date
CUSIP Quantity Security Description
c
Price Aq/Disp
Yield
Amount
Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 01/15/2023 90LAIF$00 186,902.43 Local Agency Investment Fund State Pool
Purchase 01/31/2023 90CAMP$00 312,588.18 California Asset Mgmt Program CAMP
Purchase 02/28/2023 90CAMP$00 290,529.41 California Asset Mgmt Program CAMP
Purchase 03/31/2023 90CAMP$00 327,187.30 California Asset Mgmt Program CAMP
Subtotal 1,117,207.32
Security 01/03/2023 90CAMP$00 33,000,000.00 California Asset Mgmt Program CAMP
Contribution
Subtotal 33,000,000.00
TOTAL ACQUISITIONS 34,117,207.32
1.000 2.23%
1.000 4.56%
1.000 4.75%
1.000 4.92%
1.000
186,902.43
312,588.18
290,529.41
327,187.30
1,117,207.32
33,000,000.00
33,000,000.00
34,117,207.32
0.00
0.00
0.00
0.00
0.00
0.00
186,902.43
312,588.18
290,529.41
327,187.30
1,117,207.32
33,000,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00 33,000,000.00 0.00
0.00 34,117,207.32 0.00
DISPOSITIONS
Security 01/13/2023 90CAMP$00 9,500,000.00 California Asset Mgmt Program CAMP
Withdrawal
Subtotal 9,500,000.00
TOTAL DISPOSITIONS 9,500,000.00
1.000 9,500,000.00 0.00
9,500,000.00 0.00
9,500,000.00 0.00
9,500,000.00 0.00
9,500,000.00 0.00
9,500,000.00 0.00
44 CM
122