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Home My WebLink About2024-11-21; Investment Review Committee; ; Fiscal Year 2024-25 First Quarter Investment Review Meeting Date: Nov. 21, 2024 To: Investment Review Committee From: Zach Korach, Finance Director / Deputy City Treasurer Staff Contact: Katie Schroeder, Senior Accountant katie.schroeder@carlsbadca.gov, 442-339-5246 Subject: Fiscal Year 2024-25 First Quarter Investment Review District: All Recommended Action Receive Report on City Investments presentation for the first quarter of fiscal year 2024-25. Executive Summary The city’s Investment Policy requires quarterly reviews of the city’s investment portfolio. Discussion & Fiscal Analysis The city’s pooled investment portfolio for the quarter ending Sept. 30, 2024, is summarized below. Pooled investment portfolio (cash and securities) Valuation July 2024 Aug. 2024 Sept. 2024 Par value1 $882,114,141 $886,987,795 $884,445,644 Investment cost $877,922,449 $881,873,237 $879,000,619 Amortized cost2 $876,134,515 $880,836,137 $878,221,220 Market value3 $857,825,951 $867,374,756 $868,870,644 (1) The face value of the investments. (2) The cost of investments adjusted for amortized premiums and discounts. (3) The amount at which the investments could be sold. Source of market value is Principal custodial report. INVESTMENT REVIEW COMMITTEE Nov. 21, 2024 Item #1 Page 1 of 86 Staff Report The equity portion of the various funds in the total portfolio, that is, the part of the total investment portfolio assigned to each fund, is summarized for the quarter end in the graph below. Fund balances are restricted for various purposes. Pooled investment interest income4 Revenue July 2024 Aug. 2024 Sept. 2024 Quarter income Cash income $2,469,114 $2,225,463 $1,969,876 $6,664,453 (4) The cash income received is adjusted for any received interest previously purchased. Pooled investment performance Average life (years) Yield5 Modified duration July 2024 1.95 2.89% 1.68 Aug. 2024 1.92 2.94% 1.65 Sept. 2024 1.91 2.93% 1.65 (5) Yield is computed by totaling the weighted average of each investment’s return less any costs. All pooled investments have been made in accordance with the city’s Investment Policy, which was adopted Jan. 2, 1985, and last revised Mar. 12, 2024; however, events after the purchase might result in perceived non-compliance with the current policy. These events are typically a change in the credit rating after a purchase, a change in the city’s Investment Policy, or a temporary reduction in total portfolio assets. Investments out of compliance with the current policy experienced a subsequent change in Capital projects, $408 Enterprise, $207 General, $133 Internal service, $84 Special revenue, $36 Fiduciary, $2 Fund equity in pooled investments (in millions) Nov. 21, 2024 Item #1 Page 2 of 86 credit rating. Ratings on one investment has dropped to less than the rating required by the Investment Policy since the initial purchase. In addition, one investment was refunded and collateralized by the US Treasury since the initial purchase and is therefore not rated. Corporate notes and municipal bonds require a “split rating” of AA from one rating company and an A rating from a second. Mortgage-backed securities require an AA rating from one rating company. The city’s Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. All investments are paying interest at the required times and their principal is considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events indicate they should be sold. Not less than two-thirds of the current fiscal year operating budget shall mature within one year. As of Sept. 30, 2024, the maturity value within one year is $308,877,996 which is 73.72% of the current year operating budget. The investment portfolio has the ability to meet the city’s anticipated cash flow demands for the next six months. Next Steps The City Treasurer will continue to provide a quarterly summary of the portfolio for review. Environmental Evaluation This action does not require environmental review because it does not constitute a project within the meaning of the California Environmental Quality Act under California Public Resources Code Section 21065 in that it has no potential to cause either a direct physical change or a reasonably foreseeable indirect physical change in the environment. Exhibits 1. Report on City Investments as of July 31, 2024 2. Report on City Investments as of Aug. 31, 2024 3. Report on City Investments as of Sept. 30, 2024 Nov. 21, 2024 Item #1 Page 3 of 86 Meeting Date: Sept. 10, 2024 To: Mayor and City Council From: Scott Chadwick, City Manager Staff Contact: Zach Korach, Finance Director zach.korach@carlsbadca.gov, 442-339-2127 Subject: Report on City Investments as of July 31, 2024 District: All Recommended Action Accept and file Report on City Investments as of July 31, 2024. Executive Summary The city’s Investment Policy requires the City Treasurer to report the status of the city’s pooled investment portfolio to the City Council each month. Discussion & Fiscal Analysis The city’s pooled investment portfolio as of the month ending July 31, 2024, is summarized below. Pooled investment portfolio (cash and securities) Current month Prior month Par value1 $882,114,141 $902,855,260 Investment cost $877,922,449 $899,340,193 Amortized cost2 $876,134,515 $897,056,042 Market value3 $857,825,951 $871,929,110 (1)The face value of the investments. (2)The cost of investments adjusted for amortized premiums and discounts. (3)The amount at which the investments could be sold. Source of market value is Principal custodial report. Exhibit 1 Nov. 21, 2024 Item #1 Page 4 of 86 The equity portion of the various funds in the total portfolio, that is, the part of the total investment portfolio assigned to each fund, is summarized in the graph below. Fund balances are restricted for various purposes (See Exhibit 6 for a more detailed breakdown). Pooled investment interest income4 Fiscal year to date Current month Prior month Cash income $2,469,114 $2,469,114 $1,785,272 (4)The cash income received is adjusted for any received interest previously purchased. Pooled investment performance Average life (years) Yield5 Modified duration May 2024 1.83 2.83% 1.57 June 2024 1.85 2.88% 1.59 July 2024 1.95 2.89% 1.68 (5)Yield is computed by totaling the weighted average of each investment’s return less any costs. All pooled investments have been made in accordance with the city’s Investment Policy, which was adopted Jan. 2, 1985, and last revised Mar. 12, 2024; however, events after the purchase might result in perceived non-compliance with the current policy. These events are typically a change in the credit rating after a purchase, a change in the city’s Investment Policy, or a temporary reduction in total portfolio assets. Capital projects, $413 Enterprise, $205 General, $132 Internal service, $82 Special revenue, $36 Fiduciary, $2 Fund equity in pooled investments (in millions) Nov. 21, 2024 Item #1 Page 5 of 86 Exhibit 7 shows the investments out of compliance with the current policy that experienced a subsequent change in credit rating. Ratings on one investment has dropped to less than the rating required by the Investment Policy since the initial purchase. In addition, one investment was refunded and collateralized by the US Treasury since the initial purchase and is therefore not rated. Corporate notes and municipal bonds require a “split rating” of AA from one rating company and an A rating from a second. Mortgage-backed securities require an AA rating from one rating company. The city’s Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. All investments are paying interest at the required times and their principal is considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events indicate they should be sold. Not less than two-thirds (66.67%) of the current fiscal year operating budget shall mature within one year. The maturity value within one year is $298,713,748 which is 71.29% of the current year operating budget. The investment portfolio has the ability to meet the city’s anticipated cash flow demands for the next six months. Next Steps The report on city investments will continue to be produced monthly by the City Treasurer. Environmental Evaluation This action does not require environmental review because it does not constitute a project within the meaning of the California Environmental Quality Act under California Public Resources Code Section 21065 in that it has no potential to cause either a direct physical change or a reasonably foreseeable indirect physical change in the environment. Exhibits 1.Investments by cost, market value, cash income and average yield by class 2.Maturities by classification and length of time at market value 3.Yield comparison & market yield curve 4.Cash income by month & cumulative cash income 5.Maturities, calls and purchases this quarter 6.Fund equity in pooled investments 7.Security ratings and outlooks 8.Portfolio allocation at amortized cost by issuer 9.Investment detail 10.Section 115 Trust activity Nov. 21, 2024 Item #1 Page 6 of 86 City of Carlsbad investment portfolio Investments by cost, market value, cash income and average yield by class Exhibit 1 Investment cost Market value Average yield Class Current month Prior month Current month Prior month YTD net income Current month Prior month Percent of total Certificate of deposit 22,473,876.92$ 22,472,876.92$ 21,897,207.84$ 21,681,219.08$ 36,956.12$ 2.16% 2.13% 2.55% Corporate notes 125,390,796.00 124,920,256.00 119,824,080.96 118,114,446.81 317,247.22 2.51% 2.45% 13.97% Federal agency 348,750,195.97 348,792,389.47 339,295,953.39 336,219,140.00 838,919.04 2.12% 2.00% 39.55% Mortgage passthrough securities 79,615,433.10 76,555,994.97 78,618,748.89 74,537,656.97 220,380.49 3.90% 3.85% 9.16% Municipal bonds 102,017,450.40 99,115,970.40 99,896,286.60 95,882,866.75 213,690.03 2.77% 2.72% 11.65% Supranational securities 22,183,412.00 22,183,412.00 21,526,337.10 21,264,562.30 5,800.00 1.99% 1.99% 2.51% US Treasury 51,068,515.85 54,471,925.29 50,344,567.50 53,401,850.00 161,485.23 2.63% 2.55% 5.87% General cash account 2,220,949.00 2,413,725.00 2,220,949.00 2,413,725.00 - 0.00% 0.00% 0.26% Sweep account 7,690,448.45 12,841,166.63 7,690,448.45 12,841,166.63 72,533.73 5.18% 5.19% 0.90% Investment cash account 2,856,382.02 1,502,826.10 2,856,382.02 1,502,826.10 16,763.12 2.95% 2.95% 0.33% California Asset Mgmt Program (CAMP) 111,787,474.33 132,222,971.75 111,787,474.33 132,222,971.75 564,502.58 5.43% 5.43% 13.03% Local Agency Investment Fund (LAIF) 1,867,514.89 1,846,678.87 1,867,514.89 1,846,678.87 20,836.02 4.52% 4.48% 0.22% Total 877,922,448.93$ 899,340,193.40$ 857,825,950.97$ 871,929,110.26$ 2,469,113.58$ 2.89% 2.88% 100.00% Policy: Certificates of deposit and corporate notes are limited to 30% of total portfolio at the time of purchase. Municipal bonds are limited to 15% of total portfolio at the time of purchase. Supranational securities are limited to 10% of total portfolio at the time of purchase. July 31, 2024 Nov. 21, 2024 Item #1 Page 7 of 86 City of Carlsbad investment portfolio Maturities by classification and length of time at market value Exhibit 2 Class Overnight Within 12 months 13-36 months 37-60 months Total Certificate of deposit $ - 5,815,709.25$ 9,152,228.15$ 6,929,270.44$ 21,897,207.84$ Corporate notes - 33,027,506.96 53,900,020.50 32,896,553.50 119,824,080.96 Federal agency - 83,743,609.14 153,657,561.20 101,894,783.05 339,295,953.39 Mortgage passthrough securities - 6,323,235.11 14,081,191.08 58,214,322.70 78,618,748.89 Municipal bonds - 19,334,281.50 45,074,157.70 35,487,847.40 99,896,286.60 Supranational securities - 5,400,957.60 8,587,120.00 7,538,259.50 21,526,337.10 US Treasury - 18,645,680.00 23,503,605.00 8,195,282.50 50,344,567.50 General cash account 2,220,949.00 - - - 2,220,949.00 Sweep account 7,690,448.45 - - - 7,690,448.45 Investment cash account 2,856,382.02 - - - 2,856,382.02 California Asset Mgmt Program (CAMP) 111,787,474.33 - - - 111,787,474.33 Local Agency Investment Fund (LAIF) 1,867,514.89 - - - 1,867,514.89 Totals 126,422,768.69$ 172,290,979.56$ 307,955,883.63$ 251,156,319.09$ 857,825,950.97$ Percent Total 14.74%20.08%35.90%29.28%100.00% 298,713,748.25$ 71.29% Policy: Maximum term for all securities is five years. Not less than $279,333,609 to mature within one year, two-thirds of FY 24-25 operating budget of $419,000,413. July 31, 2024 Percentage of the budget Funds maturing within one year Nov. 21, 2024 Item #1 Page 8 of 86 City of Carlsbad investment portfolio Yield comparisons Exhibit 3 July 31, 2024 0.00 1.00 2.00 3.00 4.00 5.00 6.00 3 month 2 year 5 year 10 year FY 22-23 end 5.43 4.87 4.13 3.81 FY 23-24 end 5.48 4.71 4.33 4.36 Jul 2024 5.41 4.29 3.97 4.09 Ma r k e t r a t e ( % ) Yield comparison: market yields Fiscal year ends compared to current 0.00 1.00 2.00 3.00 4.00 5.00 6.00 Yi e l d ( % ) Yield comparison: Securities vs CAMP vs LAIF Three year comparison Securities CAMP LAIF Nov. 21, 2024 Item #1 Page 9 of 86 City of Carlsbad investment portfolio Cash income Exhibit 4 Fiscal year 2023-24 July 31, 2024 Fiscal year 2023-24 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 In t e r e s t I n c o m e Cash income by month 13-month comparison $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 In t e r e s t I n c o m e Cumulative cash income 13-month comparison, by fiscal year Nov. 21, 2024 Item #1 Page 10 of 86 City of Carlsbad investment portfolio Maturities, calls and purchases this quarter Exhibit 5 CUSIP Issuer Settled Maturity Yield Par value Book value Total Interest Total Certificate of deposit 14042RMN8 Capital One 07/31/19 07/31/24 2.25% 247,000.00$ 247,000.00$ 27,817.96$ 274,817.96$ Corporate notes 742651DP4 Private Export Funding 06/28/19 07/15/24 2.45% 2,500,000.00$ 2,565,850.00$ 309,142.36$ 2,809,142.36$ Federal agency 3133ELQ56 Federal Farm Credit Banks 03/21/22 07/02/24 0.57% 2,005,000.00$ 1,942,243.50$ 26,063.33$ 2,031,063.33$ 3130AP7D1 Federal Home Loan Banks 12/10/21 07/19/24 0.45% 2,000,000.00 1,978,000.00 26,063.33 2,026,063.33 3133ELX66 Federal Farm Credit Banks 07/24/20 07/22/24 0.44% 2,000,000.00 2,000,000.00 35,151.11 2,035,151.11 3133EKWV4 Federal Farm Credit Banks 08/08/19 07/26/24 1.85% 2,500,000.00 2,532,125.00 229,708.33 2,729,708.33 3134GW4X1 Federal Home Loan Mortgage Corp 10/29/20 07/29/24 0.38% 3,000,000.00 3,000,000.00 42,187.50 3,042,187.50 Mortgage passthrough securities 30311SAA7 FRESB - 2022-SB97 A5F 04/22/22 07/25/24 2.80%5,252.06$ 5,043.91$ 4,894.21$ 10,146.27$ 30315EAA4 FRESB - MFM 07/24/20 07/25/24 0.83%1,467.29 1,474.47 607.40 2,074.69 30318NAA1 FRESB - 2021-SB83 02/19/21 07/25/24 0.51%2,246.73 2,257.28 630.68 2,877.41 30321CAQ5 FRESB - 2021-SB88 A5F 07/23/21 07/25/24 0.75%2,994.08 3,008.14 1,219.35 4,213.43 30324QAC2 FRESB - 2022-SB94 01/21/22 07/25/24 1.50%7,250.00 7,283.53 5,381.01 12,631.01 30329MAA0 FRESB - 2022-SB103 A5F 10/28/22 07/25/24 4.99%2,122.02 1,901.09 2,547.05 4,669.07 30329QAA1 FRESB - 2022-SB104 A5F 11/18/22 07/25/24 2.60%4,955.63 4,523.69 8,405.73 13,361.36 30332EAA3 FRESB - 2023-SB107 A5F 07/20/23 07/25/24 4.09%990.32 968.79 10,208.62 11,198.94 30333AAA0 FRESB - 2023-SB108 A5F 08/17/23 07/25/24 4.79%1,961.43 1,919.16 12,364.01 14,325.44 30334CAA5 FRESB - 2023-SB111 A5F 11/16/23 07/25/24 5.28%171.61 167.77 10,789.44 10,961.05 30336BAA5 FRESB - 2024-SB113 04/25/24 07/25/24 5.22%117.93 116.94 14,640.78 14,758.71 30337MAA0 FRESB - 2024-SB114 06/27/24 07/26/24 4.99%403.27 405.27 12,475.00 12,878.27 3132XGRH1 FRESB - WN2287 01/27/23 07/25/24 3.93%4,022.67 3,986.21 9,143.13 13,165.80 3137BL6J2 FHLM - FHMS K048 A1 07/22/22 07/25/24 3.43%76,733.60 75,966.26 643.05 77,376.65 3137BM7B6 FHMS - K051 A1 06/30/22 07/25/24 3.30%98,529.11 97,759.35 4,062.78 102,591.89 3137BP4J5 FHLM - FHMS K1R1 08/20/21 07/25/24 0.41%45,535.77 47,691.60 1,980.86 47,516.63 3137F32A1 FHLM - KHG1 A1 04/15/20 07/25/24 0.99%91,816.92 98,416.26 1,239.57 93,056.49 3137FBTA4 FHLM - FHMS K728 03/10/21 07/25/24 3.06% 473,244.90 510,457.48 4,693.89 477,938.79 3138L7D60 FHLM - AM6424 12/16/22 07/25/24 4.21%2,571.60 2,489.63 2,766.52 5,338.12 35564CAA5 FHLM - SLST 2018 01/11/24 07/25/24 5.37%10,133.15 9,725.05 2,842.13 12,975.28 U.S. Treasury 9128286Z8 US Treasury 03/01/21 07/01/24 3.70% 2,500,000.00$ 2,614,215.00$ 145,873.62$ 2,645,873.62$ 91282CCL3 US Treasury 10/21/22 07/15/24 0.38% 3,000,000.00 2,789,648.44 19,504.08 3,019,504.08 20,584,520.09$ 20,544,643.82$ 973,046.83$ 21,557,566.92$ July 31, 2024 Maturities Maturities Total Nov. 21, 2024 Item #1 Page 11 of 86 City of Carlsbad investment portfolio Maturities, calls and purchases this quarter July 31, 2024 CUSIP Issuer Settled Maturity Yield First Coupon Par value Book value Certificate of deposit 06652CHX2 Bankwest Inc 07/31/24 07/31/29 4.90%08/31/24 248,000.00$ 248,000.00$ Corporate notes 64952WFG3 New York Life Global 07/16/24 06/06/29 4.72%12/06/24 3,000,000.00$ 3,036,390.00$ Federal agency 3134H16A6 Federal Home Loan Mortgage Corp 07/30/24 07/30/29 5.11%01/30/25 2,000,000.00$ 1,990,300.00$ 3133ERLM1 Federal Farm Credit Bank 07/24/24 07/24/28 5.10%01/24/25 2,500,000.00 2,500,000.00 3134H15T6 Federal Home Loan Mortgage Corp 07/16/24 07/16/29 5.07%01/16/25 2,500,000.00 2,491,875.00 3134HAAN3 Federal Home Loan Mortgage Corp 07/30/24 07/30/29 4.64%01/30/25 3,000,000.00 2,965,500.00 3133ENUR9 Federal Farm Credit Bank 07/22/24 04/18/29 4.29%10/18/24 2,000,000.00 1,950,000.00 Mortgage passthrough securities 3132XFQN1 FHLMC WN1360 07/02/24 04/01/29 4.57%08/25/24 2,000,000.00$ 1,950,000.00$ 3132XG3G9 FHLMC WN3598 07/23/24 06/01/29 4.59%08/25/24 2,000,000.00 1,985,000.00 Municipal bonds 13063DGC6 State of California 07/23/24 04/01/28 4.47%10/01/24 3,000,000.00$ 2,901,480.00$ U.S. Treasury 91282CHQ7 US Treasury 07/18/24 07/31/28 4.12%07/31/24 2,000,000.00$ 2,000,454.00$ Purchases total 24,248,000.00$ 24,018,999.00$ Purchases Nov. 21, 2024 Item #1 Page 12 of 86 City of Carlsbad investment portfolio Fund equity in pooled investments Exhibit 6 Cash balance by fund: General 132,211,288.34 Special revenue 36,018,674.06 Capital projects: Infrastructure replacement 119,374,996.26 Special districts 113,459,893.89 General capital construction 63,936,310.85 Public facilities fees 33,760,202.24 Traffic impact fees 18,449,622.27 Gas tax 19,461,187.85 Park development 15,731,406.30 Technology investment 19,359,884.99 TransNet taxes 4,454,031.26 Drainage fees 5,183,112.17 Capital project subtotal 413,170,648.08 Enterprise: Carlsbad Municipal Water District 138,367,328.44 Sewer fund 50,371,623.33 Storm water 5,198,242.83 Solid waste 4,169,123.27 Golf course 7,381,029.07 Enterprise subtotal 205,487,346.94 Internal service 81,744,458.87 Fiduciary 1,608,840.12 Total general ledger balance **870,241,256.00 Reconciling adjustments (1)5,893,259.00 876,134,515.03 **Figures based on best estimate at the time report run on 08/15/2024. Total treasurer's investment portfolio at amortized cost (1) The reconciling adjustments consist of differences between the general ledger which is prepared on an accrual basis and the treasurer's report which is prepared on a cash basis. July 31, 2024 Nov. 21, 2024 Item #1 Page 13 of 86 City of Carlsbad investment portfolio Security ratings and outlooks Exhibit 7 Issuer Moody's S&P Fitch Outlook Corporate notes Amazon.com Inc A1 AA AA-Stable/Stable/Stable Apple Inc AAA AA+Stable/Stable/ Bank of America A1 A- AA-Positive/ /Stable Bank of Montreal A2 N/A AA-Stable Bank of New York Mellon Corp A1 A AA-Neg/Stable/Stable BLC Community Bank A2 N/A AA-Stable CME Group Inc AA3 AA- AA-Stable/Stable/Stable Colgate-Palmolive AA3 A+Stable/Negative Flordia Power and Light Co AA2 A+ AA-Stable/Stable/Stable Johnson & Johnson AAA AAA Stable/Neg JP Morgan Chase Bank A1 A- AA-Stable/Stable/Stable MassMutual Global Funding AA3 AA+ AA+ /Stable/ Merck & Co*A1 A+Positive/Stable/ Met Life Global AA3 AA- AA- /Stable/ Microsoft AAA AAA Stable/Stable/ New York Life AAA AA+ AAA Stable Nike Inc.A1 AA-Stable/Stable/ Novartis Capital Corp AA3 AA- AA-Positive/Stable Pacific Life Global AA3 AA- AA-Stable Procter & Gamble AA3 AA-Stable/Stable/ Roche Holdings Inc AA2 AA AA Stable Royal Bank of Canada A1 A AA-Stable/Stable/Stable Seattle Children's Hospital AA2 N/A AA Stable Visa Inc.AA3 AA-Stable/Stable/ Wal-Mart AA2 AA AA Stable/Stable/Stable Mortgage passthrough securities FAMCA AAA AA+Stable FHLMC AAA AA+Stable FNMA AAA AA+Stable FRESB AAA AA+Stable Municipal Bonds Ada/Canyon Cty SD AA1 AA+Stable Alief Independent School Dist AAA AAA Amarillo Independent SD AAA AAA Stable Bay Area Water & Utl AA3 AA- California State University AA2 AA- City of Riverside N/A AA AA-Stable City of Anaheim N/A AA+ AA+ Ratings of corporate notes must be AA or better by one and A or better by another of the three: Moody's, S&P, or Fitch. Ratings of mortgage passthrough securities must be AA or better by one of the three: Moody's, S&P, or Fitch. July 31, 2024 All investments were in compliance with the city's investment policy at the time of purchase. Nov. 21, 2024 Item #1 Page 14 of 86 City of Carlsbad investment portfolio Security ratings and outlooks Issuer Moody's S&P Fitch Outlook July 31, 2024 All investments were in compliance with the city's investment policy at the time of purchase. Contra Costa Cmty College AA1 AA+ County of Multnomah OR AAA AAA Stable Fremont CA Unified AA2 AA-Stable Honolulu Wastewater AA3 N/A AA-Stable Los Angeles Cmty Clg Dist AAA AA+ Los Angeles Unified SD AA2 AA-Stable Los Angeles Water & Power AA2 AA-Stable Marion County SD AA1 N/A AA+Stable Mason/Kitsap Cty SD AAA N/A AA+Stable Miami Beach FL AA2 AA+ Minnesota State AAA AAA AAA Stable Oregon State Dept Admin Serv AA2 AA Oregon State Dept of Transp AA1 AAA AA+Stable Pajaro Valley Unified SD AA3 A+ Portland Cmty College AA1 N/A AA+Stable San Bernardino CCD AA1 AA Stable San Diego Cmty College AA1 AAA Stable San Diego Public Finance AA2 N/A AA Stable San Francisco City Pub Utl¹N/A N/A San Jose Evergreen CC AA1 AA+Stable San Jose Redevelopment N/A AA AA+Stable San Ramon Valley USD AA1 AA+ Santa Barbara CA USD AA1 AA Stable Santa Monica Cmty College AA2 AA+ Solano County Cmty College AA2 AA Stable Southern CA Public Power N/A AA- AA-Stable State of California AA2 AA- AA Stable/positive/stable State of Connecticut AA3 AA- State of Hawaii AA2 AA+ AA Stable Texas Tech University AA1 AA+Stable University of California AA2 AA AA Stable Corporate notes Moody's S&P Fitch Maturity date Purchased Book value Merck & Co A1 A+ N/R 02/24/26 04/12/21 1,494,689$ 1,494,689$ ¹San Francisco City Public Utility refunded and is collateralized by State and Local Government Series Securities (SLGS). The security is backed by the US Treasury and is therefore not rated. *Investments with subsequent changes in credit rating The city's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. The current exception is paying interest at the required times. The principal of the investment is considered secure. It is the intent of the City Treasurer to hold the asset in the portfolio until maturity unless events indicate they shoud be sold. Ratings of municipal bonds must be AA or better by one and A or better by another of the three: Moody's, S&P, or Fitch. Nov. 21, 2024 Item #1 Page 15 of 86 City of Carlsbad investment portfolio Portfolio allocation at amortized cost by issuer Exhibit 8 Issuer Amortized cost Portfolio allocation Corporate notes Amazon.com Inc.4,502,282.34 0.51% Apple Inc.1,513,485.06 0.17% Bank of America 10,995,888.13 1.26% Bank of Montreal 2,000,000.00 0.23% Bank of New York Mellon 3,056,907.00 0.35% BLC Community Bank (Bank of Montreal)5,950,000.00 0.68% CME Group 2,807,420.40 0.32% Colgate-Palmolive 1,966,823.88 0.22% Florida Power & Light 3,709,807.53 0.42% Johnson & Johnson 17,209,464.57 1.96% JP Morgan Chase Bank 14,800,000.00 1.69% Massmutual Global 3,763,572.43 0.43% Merck & Co 1,495,420.80 0.17% Met Life Global 5,122,142.45 0.58% Microsoft 4,118,229.54 0.47% New York Life 6,419,163.07 0.73% Nike Inc.2,901,602.10 0.33% Novartis Capital Corp 3,317,712.93 0.38% Pacific Life Global 1,005,780.99 0.11% Procter & Gamble 10,855,085.66 1.24% Roche Holdings Inc 4,831,279.14 0.55% Royal Bank of Canada 6,997,421.33 0.80% Seattle Children's Hospital 893,787.57 0.10% Visa Inc.1,285,470.86 0.15% Wal-Mart 2,005,135.03 0.23% Mortgage passthrough securities FAMCA 3,536,892.23 0.40% FHLMC 29,745,276.46 3.40% FNMA 15,696,143.68 1.79% FRESB 30,637,120.73 3.50% Federal agencies Federal Agricultural Mortgage Corp.23,148,056.94 2.64% Federal Farm Credit Bank 77,256,103.53 8.82% Federal Home Loan Bank 143,994,545.90 16.44% Federal Home Loan Mortgage Corp.67,786,355.81 7.74% Federal National Mortgage Assoc.35,898,785.41 4.10% Tennessee Valley Authority 1,003,128.04 0.11% July 31, 2024 Nov. 21, 2024 Item #1 Page 16 of 86 City of Carlsbad investment portfolio Portfolio allocation at amortized cost by issuer Issuer Amortized cost Portfolio allocation July 31, 2024 Municipal Bonds Ada/Canyon Cty SD 1,502,588.46 0.17% Alief Independent SD 1,971,676.82 0.23% Amarillo Independent SD 1,794,633.69 0.20% Bay Area Water 1,201,027.50 0.14% California State University 2,238,875.81 0.26% City of Anaheim 1,523,551.79 0.17% City of Riverside 1,254,164.11 0.14% Contra Costa Cmty College 930,688.51 0.11% County of Multnomah OR 2,001,205.70 0.23% Fremont CA Unified 1,854,916.69 0.21% Honolulu Wastewater 1,422,057.69 0.16% Los Angeles Cmty College 2,050,726.35 0.23% Los Angeles Unified SD 3,665,287.20 0.42% Los Angeles Water & Power 1,556,329.29 0.18% Marion County SD 1,882,169.88 0.21% Mason/Kitsap Cty SD 640,000.00 0.07% Miami Beach FL 1,396,808.00 0.16% Minnesota State 1,215,000.00 0.14% Oregon State Dept of Admin Services 956,100.70 0.11% Oregon State Dept of Transp 3,245,013.22 0.37% Pajaro Valley USD 1,176,774.19 0.13% Portland CC 1,101,169.73 0.13% San Bernardino CCD 1,384,032.00 0.16% San Diego Cmty College 5,156,544.22 0.59% San Diego Public Finance 1,882,953.85 0.21% San Francisco City Pub Utl 1,000,305.29 0.11% San Jose Evergreen CC 770,054.11 0.09% San Jose Redevelpment 4,039,110.95 0.46% San Ramon Valley SD 888,065.73 0.10% Santa Barbara CA USD 949,727.51 0.11% Santa Monica Cmty College 504,847.24 0.06% Solano County Cmty College 1,801,794.48 0.21% Southern CA Public Power 2,454,711.47 0.28% State of California 18,294,947.66 2.09% State of Connecticut 2,854,565.72 0.33% State of Hawaii 8,007,518.53 0.91% Texas Tech University 5,744,347.57 0.66% University of California 9,437,414.07 1.08% Nov. 21, 2024 Item #1 Page 17 of 86 City of Carlsbad investment portfolio Portfolio allocation at amortized cost by issuer Issuer Amortized cost Portfolio allocation July 31, 2024 Other Supranational 21,894,286.72 2.50% US Treasury 51,361,370.63 5.86% Certificate of deposits 22,478,091.72 2.57% Cash 126,422,768.69 14.43% Total portfolio amortized cost 876,134,515.03 100.00% Policy: Corporate notes, non-agency mortgage passthrough securities, municpal bonds, and supranational securities may have no more than 5% invested with a single issuer. Certificates of deposit may have no more than 10% invested with any single issuer. Federal agencies, U.S. Treasury and agency-backed mortgage passthrough securities do not have issuer limitations. Nov. 21, 2024 Item #1 Page 18 of 86 City of Carlsbad investment portfolio Investment detail Exhibit 9 CUSIP Settlement Maturity Issuer Par Yield Interest Return 3130AGWK7 11/10/20 08/15/24 Federal Home Loan Banks 4,000,000.00 1.500% 255,833.33 4,255,833.33 3133EKQA7 08/30/19 09/10/24 Federal Farm Credit Banks 2,500,000.00 1.480% 261,444.44 2,761,444.44 880591ER9 02/19/21 09/15/24 Tennessee Valley Authority 1,000,000.00 0.300% 102,701.39 1,102,701.39 3134GWVM5 10/22/20 09/30/24 Federal Home Loan Mortgage Corp 3,000,000.00 0.350% 41,358.33 3,041,358.33 3134GWVM5 11/06/20 09/30/24 Federal Home Loan Mortgage Corp 1,170,000.00 0.350% 15,970.50 1,185,970.50 3130ALRK2 03/30/21 09/30/24 Federal Home Loan Banks 1,500,000.00 0.520% 27,300.00 1,527,300.00 31422XMV1 10/04/21 10/04/24 Federal Agricultural Mortgage Corp 2,000,000.00 0.500% 30,000.00 2,030,000.00 3133EK3B0 11/25/20 10/16/24 Federal Farm Credit Banks 1,400,000.00 0.280% 81,725.00 1,481,725.00 31422BPG9 11/15/19 11/01/24 Federal Agricultural Mortgage Corp 2,000,000.00 1.793% 177,607.78 2,177,607.78 3133EC2D5 07/10/20 11/13/24 Federal Farm Credit Banks 1,621,000.00 0.390% 159,055.22 1,780,055.22 3135G06E8 11/18/20 11/18/24 Federal National Mortgage Assoc 2,000,000.00 0.420% 33,600.00 2,033,600.00 3130APVZ5 12/02/21 12/02/24 Federal Home Loan Banks 1,900,000.00 1.050% 59,850.00 1,959,850.00 3130AQ5L3 12/16/21 12/16/24 Federal Home Loan Banks 2,000,000.00 0.500% 70,000.00 2,070,000.00 3130AKLQ7 12/30/20 12/30/24 Federal Home Loan Banks 4,000,000.00 0.310% 49,600.00 4,049,600.00 3134GXYX6 07/07/22 12/30/24 Federal Home Loan Mortgage Corp 2,500,000.00 3.348% 207,746.53 2,707,746.53 3130AJSF7 05/27/21 01/08/25 Federal Home Loan Banks 2,000,000.00 0.648% 46,980.56 2,046,980.56 3130ASLP2 07/21/22 01/21/25 Federal Home Loan Banks 2,000,000.00 3.500% 175,000.00 2,175,000.00 3130AN7L8 07/28/21 01/28/25 Federal Home Loan Banks 1,750,000.00 0.520% 31,850.00 1,781,850.00 3133EMPV8 02/03/21 02/03/25 Federal Farm Credit Banks 2,000,000.00 0.320% 25,600.00 2,025,600.00 3134GWMN3 08/27/20 02/27/25 Federal Home Loan Mortgage Corp 2,500,000.00 0.520% 58,500.00 2,558,500.00 3130A4CH3 04/09/20 03/14/25 Federal Home Loan Banks 3,000,000.00 0.778% 351,302.08 3,351,302.08 3130A4CH3 02/18/21 03/14/25 Federal Home Loan Banks 1,500,000.00 0.389% 145,072.92 1,645,072.92 3134GWP26 06/07/21 03/28/25 Federal Home Loan Mortgage Corp 1,000,000.00 0.540% 19,041.67 1,019,041.67 3130AMRJ3 06/28/21 03/28/25 Federal Home Loan Banks 3,120,000.00 0.500% 70,200.00 3,190,200.00 3133EMWH1 04/21/21 04/21/25 Federal Farm Credit Banks 1,500,000.00 0.710% 42,600.00 1,542,600.00 3130APA39 09/30/22 04/21/25 Federal Home Loan Banks 1,055,000.00 4.287% 17,813.67 1,072,813.67 3135GAA43 12/23/20 04/23/25 Federal National Mortgage Assoc 3,000,000.00 0.500% 65,000.00 3,065,000.00 3134GWYW0 10/30/20 04/30/25 Federal Home Loan Mortgage Corp 2,000,000.00 0.500% 45,111.12 2,045,111.12 3133ELC28 06/03/20 05/27/25 Federal Farm Credit Banks 3,500,000.00 0.734% 127,324.17 3,627,324.17 3134GVB31 06/03/20 05/28/25 Federal Home Loan Mortgage Corp 2,000,000.00 0.750% 74,791.66 2,074,791.66 3135GA5S6 12/16/20 06/16/25 Federal National Mortgage Assoc 2,000,000.00 0.450% 40,500.00 2,040,500.00 3135G04Z3 01/11/21 06/17/25 Federal National Mortgage Assoc 3,000,000.00 0.389% 66,500.00 3,066,500.00 3135G04Z3 05/20/21 06/17/25 Federal National Mortgage Assoc 2,000,000.00 0.600% 40,750.00 2,040,750.00 3136G4XZ1 07/01/20 06/30/25 Federal National Mortgage Assoc 2,500,000.00 0.740% 92,448.61 2,592,448.61 3133EMMP4 01/15/21 07/14/25 Federal Farm Credit Banks 2,225,000.00 0.457% 39,024.65 2,264,024.65 3137EAEU9 09/14/20 07/21/25 Federal Home Loan Mortgage Corp 1,500,000.00 0.380% 27,296.87 1,527,296.87 3133ELZ80 07/29/20 07/29/25 Federal Farm Credit Banks 3,000,000.00 0.580% 87,000.00 3,087,000.00 3133EMFC1 10/29/20 07/29/25 Federal Farm Credit Banks 3,000,000.00 0.530% 75,525.00 3,075,525.00 3134GWXM3 10/01/20 07/30/25 Federal Home Loan Mortgage Corp 2,000,000.00 0.510% 49,271.67 2,049,271.67 3133EL3P7 08/12/20 08/12/25 Federal Farm Credit Banks 3,500,000.00 0.530% 92,750.00 3,592,750.00 3136G4C43 08/14/20 08/14/25 Federal National Mortgage Assoc 2,000,000.00 0.650% 65,000.00 2,065,000.00 3136G4H71 11/06/20 08/18/25 Federal National Mortgage Assoc 2,000,000.00 0.500% 47,833.33 2,047,833.33 3136G4K77 08/21/20 08/21/25 Federal National Mortgage Assoc 2,000,000.00 0.450% 45,000.00 2,045,000.00 3136G4X24 08/31/20 08/29/25 Federal National Mortgage Assoc 3,000,000.00 0.600% 89,900.00 3,089,900.00 3137EAEX3 10/22/20 09/23/25 Federal Home Loan Mortgage Corp 4,000,000.00 0.430% 73,791.67 4,073,791.67 3137EAEX3 12/28/20 09/23/25 Federal Home Loan Mortgage Corp 3,000,000.00 0.400% 53,281.25 3,053,281.25 3133EMCP5 10/14/20 10/14/25 Federal Farm Credit Banks 1,500,000.00 0.520% 39,000.00 1,539,000.00 3132X0CK5 11/01/22 10/14/25 Federal Agricultural Mortgage Corp 1,650,000.00 2.153% 184,415.59 1,834,415.59 3134GWXX9 10/15/20 10/15/25 Federal Home Loan Mortgage Corp 3,000,000.00 0.550% 82,500.00 3,082,500.00 3135G06A6 12/11/20 10/20/25 Federal National Mortgage Assoc 2,410,000.00 0.590% 67,909.78 2,477,909.78 3133EMDZ2 12/09/20 10/21/25 Federal Farm Credit Banks 3,000,000.00 0.560% 75,920.00 3,075,920.00 3133EMFR8 11/03/20 11/03/25 Federal Farm Credit Banks 4,500,000.00 0.540% 121,500.00 4,621,500.00 3135G06G3 12/29/20 11/07/25 Federal National Mortgage Assoc 3,000,000.00 0.410% 72,833.34 3,072,833.34 3130ALFF6 03/10/21 12/10/25 Federal Home Loan Banks 1,750,000.00 0.650% 54,031.25 1,804,031.25 31422XAT9 03/02/21 12/15/25 Federal Agricultural Mortgage Corp 3,000,000.00 0.520% 74,663.33 3,074,663.33 3134GXFV1 12/17/20 12/17/25 Federal Home Loan Mortgage Corp 5,000,000.00 0.625% 156,250.00 5,156,250.00 3134GXHD9 03/24/21 12/23/25 Federal Home Loan Mortgage Corp 1,500,000.00 0.700% 49,845.83 1,549,845.83 July 31, 2024 Federal investments Nov. 21, 2024 Item #1 Page 19 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return July 31, 2024 3135G06Q1 12/30/20 12/30/25 Federal National Mortgage Assoc 2,500,000.00 0.474% 80,000.00 2,580,000.00 3130AKMZ6 01/14/21 01/14/26 Federal Home Loan Banks 4,000,000.00 0.510% 102,000.00 4,102,000.00 3130AKMZ6 01/14/21 01/14/26 Federal Home Loan Banks 1,750,000.00 0.540% 44,625.00 1,794,625.00 31422B6K1 01/25/21 01/15/26 Federal Agricultural Mortgage Corp 1,500,000.00 0.480% 35,800.00 1,535,800.00 3130AKN69 01/28/21 01/28/26 Federal Home Loan Banks 3,000,000.00 0.500% 75,000.00 3,075,000.00 3130AKRF5 02/09/21 02/09/26 Federal Home Loan Banks 2,050,000.00 0.350% 14,575.00 2,064,575.00 3130AKVR4 02/12/21 02/12/26 Federal Home Loan Banks 2,000,000.00 0.550% 55,000.00 2,055,000.00 3130AKVV5 02/18/21 02/18/26 Federal Home Loan Banks 4,000,000.00 0.500% 100,000.00 4,100,000.00 3133EMSH6 03/03/21 03/03/26 Federal Farm Credit Banks 674,000.00 0.790% 26,623.00 700,623.00 3133EMSU7 03/09/21 03/09/26 Federal Farm Credit Banks 3,500,000.00 0.800% 140,000.00 3,640,000.00 3130ALH56 03/18/21 03/18/26 Federal Home Loan Banks 3,000,000.00 0.750% 112,500.00 3,112,500.00 3130ALUQ5 03/30/21 03/30/26 Federal Home Loan Banks 1,500,000.00 0.300% 22,500.00 1,522,500.00 31422XCX8 04/20/21 04/20/26 Federal Agricultural Mortgage Corp 2,000,000.00 1.000% 100,000.00 2,100,000.00 3130ALVB7 04/21/21 04/21/26 Federal Home Loan Banks 2,000,000.00 0.915% 90,000.00 2,090,000.00 3130AM4L3 04/29/21 04/29/26 Federal Home Loan Banks 4,000,000.00 0.500% 100,000.00 4,100,000.00 31422XFP2 05/04/21 05/04/26 Federal Agricultural Mortgage Corp 2,500,000.00 0.950% 118,750.00 2,618,750.00 3130AMCL4 09/30/22 05/19/26 Federal Home Loan Banks 1,100,000.00 4.300% 40,797.17 1,140,797.17 3130AMHN5 05/26/21 05/26/26 Federal Home Loan Banks 2,500,000.00 0.500% 112,500.00 2,612,500.00 31422XGL0 05/27/21 05/27/26 Federal Agricultural Mortgage Corp 2,000,000.00 0.920% 92,000.00 2,092,000.00 3130AMQK1 06/16/21 06/16/26 Federal Home Loan Banks 2,000,000.00 0.500% 94,000.00 2,094,000.00 3130AMQK1 06/16/21 06/16/26 Federal Home Loan Banks 2,500,000.00 0.500% 117,500.00 2,617,500.00 3133EML67 06/22/21 06/22/26 Federal Farm Credit Banks 2,000,000.00 0.870% 80,000.00 2,080,000.00 3130AMTW2 06/30/21 06/30/26 Federal Home Loan Banks 4,500,000.00 0.500% 186,750.00 4,686,750.00 3130AMWN8 06/30/21 06/30/26 Federal Home Loan Banks 2,000,000.00 0.550% 88,000.00 2,088,000.00 3130ANCH1 07/27/21 07/27/26 Federal Home Loan Banks 2,500,000.00 1.000% 125,000.00 2,625,000.00 3130ANL57 08/25/21 08/25/26 Federal Home Loan Banks 3,500,000.00 0.906% 153,125.00 3,653,125.00 31422XLY6 09/01/21 09/01/26 Federal Agricultural Mortgage Corp 4,000,000.00 0.900% 180,000.00 4,180,000.00 3133EM3T7 09/07/21 09/01/26 Federal Farm Credit Banks 3,000,000.00 0.885% 130,065.00 3,130,065.00 31422XNB4 09/30/21 09/30/26 Federal Agricultural Mortgage Corp 2,500,000.00 0.860% 107,798.60 2,607,798.60 3133ENAF7 12/27/21 10/07/26 Federal Farm Credit Banks 2,500,000.00 1.268% 119,444.44 2,619,444.44 3133ENT26 10/19/22 10/19/26 Federal Farm Credit Banks 3,000,000.00 5.300% 636,000.00 3,636,000.00 3134GW6C5 02/15/22 10/28/26 Federal Home Loan Mortgage Corp 4,500,000.00 1.958% 169,300.00 4,669,300.00 3130APJZ9 02/25/22 10/28/26 Federal Home Loan Banks 3,500,000.00 1.979% 210,000.00 3,710,000.00 3130B1DC8 05/16/24 11/09/26 Federal Home Loan Banks 1,500,000.00 5.249% 196,875.00 1,696,875.00 3133ENFP0 12/09/21 11/30/26 Federal Farm Credit Banks 2,950,000.00 1.408% 167,958.25 3,117,958.25 3130AQF65 01/14/22 12/21/26 Federal Home Loan Banks 1,550,000.00 1.483% 95,637.15 1,645,637.15 3130AQMX8 02/07/22 01/26/27 Federal Home Loan Banks 1,250,000.00 1.331% 112,070.31 1,362,070.31 3130AQJR5 12/14/23 01/27/27 Federal Home Loan Banks 2,000,000.00 4.631% 105,000.00 2,105,000.00 3130AQLD3 03/29/22 01/28/27 Federal Home Loan Banks 2,500,000.00 2.776% 211,336.81 2,711,336.81 3130ARAB7 06/24/22 03/25/27 Federal Home Loan Banks 2,000,000.00 3.420% 260,791.67 2,260,791.67 3134GXNM2 02/20/24 03/25/27 Federal Home Loan Mortgage Corp 2,000,000.00 4.419% 186,700.00 2,186,700.00 3130ARL58 06/10/22 04/26/27 Federal Home Loan Banks 4,000,000.00 3.198% 589,235.56 4,589,235.56 3133EPJP1 05/12/23 05/12/27 Federal Farm Credit Banks 2,000,000.00 3.620% 290,000.00 2,290,000.00 3130ASCT4 06/28/22 06/28/27 Federal Home Loan Banks 2,500,000.00 3.250% 406,250.00 2,906,250.00 3130ASF46 06/30/22 06/30/27 Federal Home Loan Banks 2,500,000.00 3.500% 437,500.00 2,937,500.00 3130ASLA5 09/13/23 07/26/27 Federal Home Loan Banks 1,915,000.00 4.850% 344,700.00 2,259,700.00 3133ENL99 09/30/22 09/15/27 Federal Farm Credit Banks 2,500,000.00 3.983% 418,359.37 2,918,359.37 3133EPXB6 09/28/23 09/28/27 Federal Farm Credit Banks 2,000,000.00 4.625% 370,000.00 2,370,000.00 3134GX3H5 05/15/24 09/29/27 Federal Home Loan Mortgage Corp 2,500,000.00 5.048% 415,625.00 2,915,625.00 3133EP3D5 04/30/24 11/22/27 Federal Farm Credit Banks 2,500,000.00 5.558% 517,500.00 3,017,500.00 3133EPJ30 12/06/23 12/06/27 Federal Farm Credit Banks 2,000,000.00 5.380% 430,400.00 2,430,400.00 3133EN3S7 12/07/22 12/07/27 Federal Farm Credit Banks 3,000,000.00 3.780% 562,500.00 3,562,500.00 3134H1GH0 10/30/23 12/30/27 Federal Home Loan Mortgage Corp 1,500,000.00 5.201% 312,500.00 1,812,500.00 3130AYPJ9 01/29/24 01/26/28 Federal Home Loan Banks 2,000,000.00 4.500% 359,500.00 2,359,500.00 3130AUQA5 02/02/23 02/02/28 Federal Home Loan Banks 2,500,000.00 4.050% 506,250.00 3,006,250.00 3130AYVC7 02/13/24 02/09/28 Federal Farm Credit Banks 2,000,000.00 4.625% 370,000.00 2,370,000.00 3130AUW59 03/08/23 02/17/28 Federal Home Loan Banks 1,500,000.00 4.240% 318,000.00 1,818,000.00 3133EP3Z6 02/28/24 02/28/28 Federal Farm Credit Banks 2,000,000.00 4.375% 350,000.00 2,350,000.00 Nov. 21, 2024 Item #1 Page 20 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return July 31, 2024 3130B0EE5 04/23/24 03/06/28 Federal Home Loan Banks 2,000,000.00 5.000% 384,000.00 2,384,000.00 313382GT4 11/15/23 03/10/28 Federal Home Loan Banks 2,500,000.00 4.720% 337,500.00 2,837,500.00 3133EPDC6 03/13/23 03/13/28 Federal Farm Credit Banks 1,000,000.00 5.350% 267,500.00 1,267,500.00 3133EPFU4 04/12/23 04/12/28 Federal Farm Credit Banks 2,500,000.00 3.530% 437,500.00 2,937,500.00 3130AVK50 04/24/23 04/24/28 Federal Home Loan Banks 1,500,000.00 5.000% 375,000.00 1,875,000.00 3130ALZW7 12/14/23 04/28/28 Federal Home Loan Banks 1,000,000.00 4.362% 76,500.00 1,076,500.00 3130AVZQ8 04/12/23 05/17/28 Federal Home Loan Banks 1,880,000.00 5.150% 460,600.00 2,340,600.00 3133EPMA0 06/09/23 06/09/28 Federal Farm Credit Banks 1,500,000.00 4.690% 351,750.00 1,851,750.00 3130B0NE5 05/01/24 07/06/28 Federal Home Loan Banks 2,400,000.00 4.969% 478,773.33 2,878,773.33 3134H1GL1 10/18/23 07/18/28 Federal Home Loan Mortgage Corp 2,500,000.00 5.002% 593,750.00 3,093,750.00 3134H1GL1 11/01/23 07/18/28 Federal Home Loan Mortgage Corp 2,000,000.00 5.210% 475,000.00 2,475,000.00 3133ERLM1 07/24/24 07/24/28 Federal Farm Credit Banks 2,500,000.00 5.100% 510,000.00 3,010,000.00 3134GYXX5 09/12/23 07/26/28 Federal Home Loan Mortgage Corp 1,750,000.00 5.650% 494,375.00 2,244,375.00 3133EPTA3 09/07/23 08/14/28 Federal Farm Credit Banks 1,000,000.00 5.108% 255,500.00 1,255,500.00 3134H1BP7 10/13/23 09/11/28 Federal Home Loan Mortgage Corp 1,000,000.00 5.148% 252,500.00 1,252,500.00 3134H1BP7 09/11/23 09/11/28 Federal Home Loan Mortgage Corp 3,000,000.00 5.245% 757,500.00 3,757,500.00 3134GWS23 05/17/24 09/14/28 Federal Home Loan Mortgage Corp 2,000,000.00 4.610% 90,000.00 2,090,000.00 3134H1CM3 11/17/23 09/25/28 Federal Home Loan Mortgage Corp 1,500,000.00 4.843% 327,750.00 1,827,750.00 3130B0PR4 04/02/24 10/02/28 Federal Home Loan Banks 2,000,000.00 5.000% 450,000.00 2,450,000.00 3130AP6J9 12/06/23 10/05/28 Federal Home Loan Banks 2,000,000.00 4.300% 135,000.00 2,135,000.00 3130APSR7 01/08/24 11/16/28 Federal Farm Credit Banks 1,500,000.00 4.107% 127,500.00 1,627,500.00 3130APTC9 01/19/24 11/22/28 Federal Home Loan Banks 1,000,000.00 4.193% 90,000.00 1,090,000.00 3130B0M89 03/28/24 12/28/28 Federal Home Loan Banks 3,000,000.00 4.402% 570,000.00 3,570,000.00 3130AYE51 01/08/24 01/02/29 Federal Home Loan Banks 2,500,000.00 4.947% 623,958.34 3,123,958.34 3130AYCV6 01/11/24 01/03/29 Federal Home Loan Banks 2,700,000.00 5.000% 675,000.00 3,375,000.00 3135GAM81 02/01/24 01/17/29 Federal National Mortgage Assoc 2,500,000.00 5.000% 624,305.56 3,124,305.56 3130AYJR8 02/20/24 01/17/29 Federal Home Loan Banks 2,000,000.00 4.714% 460,000.00 2,460,000.00 3130AYRG3 02/05/24 02/05/29 Federal Home Loan Banks 2,500,000.00 4.400% 550,000.00 3,050,000.00 3130AYWQ5 02/20/24 02/07/29 Federal Home Loan Banks 2,500,000.00 4.572% 568,118.05 3,068,118.05 3134H1SK0 02/09/24 02/09/29 Federal Home Loan Mortgage Corp 2,500,000.00 4.375% 546,875.00 3,046,875.00 3133ENUR9 07/22/24 04/18/29 Federal Farm Credit Banks 2,000,000.00 4.287% 370,000.00 2,370,000.00 3130B14U8 04/24/24 04/27/29 Federal Home Loan Banks 1,500,000.00 5.250% 393,093.75 1,893,093.75 3135GASP7 05/28/24 05/22/29 Federal National Mortgage Assoc 2,000,000.00 4.819% 462,500.00 2,462,500.00 3134H15T6 07/16/24 07/16/29 Federal Home Loan Mortgage Corp 2,500,000.00 4.074% 625,000.00 3,125,000.00 3134HAAN3 07/30/24 07/30/29 Federal Home Loan Mortgage Corp 3,000,000.00 4.635% 656,250.00 3,656,250.00 3134H16A6 07/30/24 07/30/29 Federal Home Loan Mortgage Corp 2,000,000.00 5.111% 500,000.00 2,500,000.00 Total federal investments 351,020,000.00$ 2.116% 32,382,163.89$ 383,402,163.89$ CUSIP Settlement Maturity Issuer Par Yield Interest Return 459056HV2 08/29/19 08/28/24 International Bank for Recon & Devel 2,000,000.00 1.428% 149,916.67 2,149,916.67 45818WCW4 11/03/21 10/15/24 Inter-American Development Bank 1,440,000.00 0.828% 14,443.20 1,454,443.20 45950KCR9 02/04/21 10/16/24 International Finance Corporation 2,000,000.00 0.290% 101,750.00 2,101,750.00 45905U6L3 01/14/21 11/20/25 International Bank for Recon & Devel 2,000,000.00 0.510% 303,125.00 2,303,125.00 45950VPJ9 01/25/21 01/15/26 International Finance Corporation 2,000,000.00 0.500% 57,677.78 2,057,677.78 4581X0DV7 04/23/21 04/20/26 Inter-American Development Bank 3,000,000.00 0.870% 131,031.25 3,131,031.25 45950VPY6 05/28/21 05/15/26 International Finance Corporation 2,000,000.00 0.500% 49,638.89 2,049,638.89 45906M4E8 07/31/23 06/26/28 International Bank for Recon & Devel 1,250,000.00 4.684% 281,250.00 1,531,250.00 45906M4E8 09/07/23 06/26/28 International Bank for Recon & Devel 1,700,000.00 4.500% 382,500.00 2,082,500.00 459058KW2 09/28/23 08/01/28 International Bank for Recon & Devel 2,000,000.00 4.720% 448,368.06 2,448,368.06 45818WFE1 03/01/24 03/01/29 Inter-American Development Bank 2,500,000.00 4.400% 550,000.00 3,050,000.00 Total supranationals 21,890,000.00$ 1.993% 2,469,700.85$ 24,359,700.85$ Supranationals Nov. 21, 2024 Item #1 Page 21 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return July 31, 2024 912828YH7 01/14/21 09/30/24 U.S. Treasury 2,000,000.00 1.500% 111,263.74 2,111,263.74 9128282Y5 10/21/22 09/30/24 U.S. Treasury 2,000,000.00 4.511% 82,548.08 2,082,548.08 912828YV6 06/07/21 11/30/24 U.S. Treasury 2,000,000.00 0.436% 104,426.23 2,104,426.23 91282CDS7 10/21/22 01/15/25 U.S. Treasury 4,000,000.00 4.548% 100,516.30 4,100,516.30 912828ZC7 07/15/21 02/28/25 U.S. Treasury 2,000,000.00 0.563% 81,623.64 2,081,623.64 912828ZL7 02/19/21 04/30/25 U.S. Treasury 2,000,000.00 0.400% 31,450.28 2,031,450.28 912828ZT0 02/19/21 05/31/25 U.S. Treasury 2,000,000.00 0.400% 21,387.36 2,021,387.36 91282CEU1 10/21/22 06/15/25 U.S. Treasury 3,000,000.00 4.530% 228,586.07 3,228,586.07 91282CAM3 01/11/21 09/30/25 U.S. Treasury 2,500,000.00 0.250% 29,481.46 2,529,481.46 91282CAZ4 01/11/21 11/30/25 U.S. Treasury 2,500,000.00 0.375% 45,793.27 2,545,793.27 91282CGA3 10/17/23 12/15/25 U.S. Treasury 2,000,000.00 4.930% 199,992.72 2,199,992.72 91282CBQ3 03/01/21 02/28/26 U.S. Treasury 3,000,000.00 0.740% 74,959.24 3,074,959.24 91282CBQ3 03/02/21 02/28/26 U.S. Treasury 2,000,000.00 0.750% 49,945.65 2,049,945.65 912828U24 12/27/21 11/15/26 U.S. Treasury 2,500,000.00 1.200% 244,198.90 2,744,198.90 91282CDK4 01/14/22 11/30/26 U.S. Treasury 1,500,000.00 1.463% 91,432.01 1,591,432.01 912828Z78 05/08/23 01/31/27 U.S. Treasury 1,500,000.00 3.500% 83,970.99 1,583,970.99 91282CKJ9 05/06/24 04/15/27 U.S. Treasury 3,000,000.00 4.710% 404,870.90 3,404,870.90 91282CFB2 04/21/23 07/31/27 U.S. Treasury 2,500,000.00 3.770% 294,181.63 2,794,181.63 91282CFB2 05/03/24 07/31/27 U.S. Treasury 1,500,000.00 4.600% 144,375.00 1,644,375.00 91282CFU0 09/08/23 10/31/27 U.S. Treasury 1,500,000.00 4.491% 278,437.50 1,778,437.50 91282CGC9 01/25/23 12/31/27 U.S. Treasury 500,000.00 3.570% 96,393.30 596,393.30 91282CGC9 01/31/23 12/31/27 U.S. Treasury 750,000.00 3.647% 144,108.25 894,108.25 91282CGC9 09/08/23 12/31/27 U.S. Treasury 1,500,000.00 4.472% 261,562.50 1,761,562.50 91282CHA2 12/14/23 04/30/28 U.S. Treasury 1,000,000.00 4.265% 157,452.99 1,157,452.99 9128284N7 07/17/23 05/15/28 U.S. Treasury 1,000,000.00 3.952% 143,750.00 1,143,750.00 91282CHQ7 07/18/24 07/31/28 U.S. Treasury 2,000,000.00 4.118% 371,250.00 2,371,250.00 Total U.S. Treasury 51,750,000.00$ 2.629% 3,877,958.01$ 55,627,958.01$ CUSIP Settlement Maturity Issuer Par Yield Interest Return 023135AZ9 08/22/19 08/22/24 Amazon.com Inc 2,000,000.00 2.800% 279,377.78 2,279,377.78 023135AZ9 10/17/19 08/22/24 Amazon.com Inc 2,500,000.00 1.860% 339,305.56 2,839,305.56 06406RAL1 02/18/20 10/24/24 Bank of NY Mellon 3,055,000.00 1.816% 300,459.25 3,355,459.25 06368G3W5 11/15/21 11/15/24 Bank of Montreal 2,000,000.00 1.000% 60,000.00 2,060,000.00 931142DV2 01/16/20 12/15/24 Wal-Mart 2,000,000.00 1.900% 260,436.11 2,260,436.11 478160CJ1 01/15/20 01/15/25 Johnson & Johnson 1,820,000.00 1.586% 238,875.00 2,058,875.00 478160CJ1 04/08/20 01/15/25 Johnson & Johnson 3,000,000.00 0.906% 375,593.75 3,375,593.75 478160CJ1 07/13/20 01/15/25 Johnson & Johnson 1,000,000.00 0.510% 118,270.83 1,118,270.83 037833AZ3 09/10/21 02/09/25 Apple Inc 1,500,000.00 0.753% 128,020.83 1,628,020.83 66989HAP3 04/13/20 02/14/25 Novartis Capital Corp 3,310,000.00 1.300% 280,131.74 3,590,131.74 12572QAG0 06/03/20 03/15/25 CME Group Inc 2,771,000.00 0.730% 397,638.50 3,168,638.50 654106AH6 12/31/20 03/27/25 Nike Inc.2,867,000.00 0.500% 291,669.47 3,158,669.47 341081FZ53 05/13/20 04/01/25 Flordia Power & Light 3,667,000.00 1.020% 509,193.51 4,176,193.51 78015K7H17 12/07/21 06/10/25 Royal Bank of Canada 2,000,000.00 1.304% 80,691.67 2,080,691.67 478160CN2 04/23/21 09/01/25 Johnson & Johnson 1,250,000.00 0.705% 29,944.44 1,279,944.44 742718FL8 09/20/21 10/29/25 Procter & Gamble 1,500,000.00 0.757% 33,893.75 1,533,893.75 92826CAD4 05/17/21 12/14/25 Visa Inc 1,250,000.00 0.910% 180,140.62 1,430,140.62 06048WK82 08/23/21 01/26/26 Bank of America 1,000,000.00 1.000% 33,550.00 1,033,550.00 58933YAY1 04/12/21 02/24/26 Merck & Co 1,500,000.00 0.950% 54,750.00 1,554,750.00 48128G2Q2 03/01/21 02/26/26 JP Morgan Chase Bank 2,000,000.00 0.800% 80,000.00 2,080,000.00 478160BY9 03/01/21 03/01/26 Johnson & Johnson 2,500,000.00 0.750% 306,250.00 2,806,250.00 48128G3A6 03/03/21 03/03/26 JP Morgan Chase Bank 2,000,000.00 1.000% 100,000.00 2,100,000.00 48128G3V0 06/11/21 06/11/26 JP Morgan Chase Bank 2,000,000.00 1.150% 115,000.00 2,115,000.00 06048WM64 07/12/21 06/25/26 Bank of America 3,000,000.00 1.210% 178,300.00 3,178,300.00 57629WDE7 07/22/21 07/16/26 Massmtual Global 3,750,000.00 1.010% 224,250.00 3,974,250.00 U.S. Treasury Corporate notes Nov. 21, 2024 Item #1 Page 22 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return July 31, 2024 594918BR4 08/11/21 08/08/26 Microsoft 4,000,000.00 0.900% 293,040.00 4,293,040.00 48128G5A4 08/25/21 08/25/26 JP Morgan Chase Bank 2,000,000.00 1.200% 120,000.00 2,120,000.00 06048WN63 09/10/21 09/10/26 Bank of America 2,000,000.00 1.150% 115,000.00 2,115,000.00 06048WP20 09/24/21 09/24/26 Bank of America 2,000,000.00 1.250% 125,000.00 2,125,000.00 59217GBY4 01/19/22 12/18/26 Met Life Global 4,000,000.00 1.940% 678,116.67 4,678,116.67 06368GC39 12/30/21 12/30/26 Bank of Montreal (BLC)2,450,000.00 2.000% 245,000.00 2,695,000.00 742718FV6 02/04/22 02/01/27 Procter & Gamble 2,000,000.00 1.331% 189,683.33 2,189,683.33 742718FV6 05/11/23 02/01/27 Procter & Gamble 1,000,000.00 3.620% 76,000.00 1,076,000.00 48128G6F2 02/25/22 02/25/27 JP Morgan Chase Bank 5,000,000.00 2.550% 197,283.33 5,197,283.33 478160CE2 04/18/22 03/03/27 Johnson & Johnson 1,750,000.00 2.850% 251,671.87 2,001,671.87 742718FG9 07/08/22 03/25/27 Procter & Gamble 2,500,000.00 3.200% 329,972.22 2,829,972.22 64952WEQ2 06/23/23 04/07/27 New York Life Global 1,500,000.00 4.630% 195,000.00 1,695,000.00 64952WEQ2 07/18/23 04/07/27 New York Life Global 2,000,000.00 4.610% 260,000.00 2,260,000.00 06048WW63 06/23/22 06/22/27 Bank of America 3,000,000.00 5.000% 750,000.00 3,750,000.00 194162AN3 05/09/23 08/15/27 Colgate-Palmolive 2,000,000.00 3.694% 223,408.33 2,223,408.33 81257VAA9 03/10/23 10/01/27 Seattle Children Hosp 1,000,000.00 5.000% 222,581.34 1,222,581.34 78014RHK9 10/18/22 10/18/27 Royal Bank of Canada 2,500,000.00 5.700% 712,500.00 3,212,500.00 592179KF1 10/17/23 01/06/28 Met Life Global 1,000,000.00 5.050% 227,250.00 1,227,250.00 78014RKF6 01/18/23 01/18/28 Royal Bank of Canada 2,500,000.00 5.450% 691,090.22 3,191,090.22 742718FZ7 11/01/23 01/26/28 Procter & Gamble 2,000,000.00 4.979% 355,500.00 2,355,500.00 48130CDL6 11/03/23 11/03/28 JP Morgan Chase Bank 1,800,000.00 6.150% 553,500.00 2,353,500.00 771196BW1 12/22/23 12/13/28 Roche Holdings Inc 2,000,000.00 4.330% 193,000.00 2,193,000.00 6944PL2Z1 01/12/24 01/11/29 Pacific Life Global 1,000,000.00 4.752% 245,000.00 1,245,000.00 742718GF0 02/20/24 01/29/29 Procter & Gamble 2,000,000.00 4.530% 435,241.67 2,435,241.67 771196CJ9 03/28/24 03/08/29 Roche Holdings Inc 3,000,000.00 4.640% 718,500.00 3,718,500.00 478160CU6 06/13/24 06/01/29 Johnson & Johnson 3,000,000.00 4.800% 724,400.00 3,724,400.00 478160CU6 06/03/24 06/01/29 Johnson & Johnson 2,750,000.00 4.895% 664,033.34 3,414,033.34 64952WFG3 07/16/24 06/06/29 New York Life Global 3,000,000.00 4.718% 750,000.00 3,750,000.00 06376A5W6 06/18/24 06/18/29 Bank of Montreal (BLC)3,500,000.00 5.750% 1,006,250.00 4,506,250.00 Total corporate notes 123,490,000.00$ 2.514% 16,543,765.13$ 140,033,765.13$ CUSIP Settlement Maturity Issuer Par Yield Interest Return 938828BM1 08/30/19 08/30/24 Washington Federal 249,000.00 2.000% 24,900.00 273,900.00 29278TLH1 09/13/19 09/13/24 Enerbank Usa 249,000.00 1.750% 21,787.50 270,787.50 15118RSC2 09/18/19 09/30/24 Celtic Bank 249,000.00 1.700% 20,956.25 269,956.25 75472RAN1 11/26/19 11/26/24 Raymond James Bank NA 247,000.00 1.850% 22,872.54 269,872.54 61690URM4 01/09/20 01/09/25 Morgan Stanley Bank NA 247,000.00 1.900% 23,490.72 270,490.72 07815AAZ0 02/27/20 02/27/25 Bell Bank Corp 249,000.00 1.600% 19,941.88 268,941.88 02554BDA6 03/13/20 03/13/25 American Eagle bank 249,000.00 1.100% 13,702.54 262,702.54 17037TEN3 03/13/20 03/13/25 Choice Financial Group 248,000.00 1.100% 13,647.47 261,647.47 73319FAF6 03/18/20 03/18/25 Poppy Bank 249,000.00 1.100% 13,702.54 262,702.54 835104BZ2 03/19/20 03/19/25 Somerset Trust 249,000.00 1.000% 12,456.88 261,456.88 45083ANS7 03/20/20 03/20/25 Iberia Bank 248,000.00 1.000% 12,406.79 260,406.79 02519TAZ9 03/27/20 03/27/25 American Commerce Bank 249,000.00 0.950% 11,834.03 260,834.03 072727BF6 03/27/20 03/27/25 Baycoast Bank 248,000.00 0.950% 11,786.45 259,786.45 14042TDD6 04/08/20 04/08/25 Capital One 248,000.00 1.600% 19,850.88 267,850.88 29260MBF1 05/15/20 05/15/25 Encore Bank 249,000.00 0.800% 9,965.41 258,965.41 33847E3H8 05/15/20 05/15/25 Flagstar Bank 248,000.00 0.850% 10,545.77 258,545.77 404730CR2 05/26/20 05/27/25 Haddon Savings Bank 248,000.00 0.750% 9,310.19 257,310.19 43719LAE5 05/29/20 05/29/25 Home Loan Inv Bank 249,000.00 0.800% 9,965.41 258,965.41 56102AAJ5 05/29/20 05/29/25 Malaga Bank 249,000.00 0.700% 8,719.87 257,719.87 69506YRT8 05/29/20 05/29/25 Pacific Western Bank 249,000.00 0.700% 8,719.77 257,719.77 86128QCF3 06/10/20 06/10/25 Stockman Bank 249,000.00 0.600% 7,474.10 256,474.10 740367MA2 07/17/20 07/17/25 Preferred Bank 249,000.00 0.500% 6,228.46 255,228.46 89235MJZ5 07/16/20 07/28/25 Toyota Financial Savings Bank 249,000.00 0.650% 8,096.93 257,096.93 Certificate of deposit Nov. 21, 2024 Item #1 Page 23 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return July 31, 2024 211163KQ2 07/29/20 07/29/25 Continental Bank 249,000.00 0.500% 6,228.46 255,228.46 02007GXF5 08/09/22 08/04/25 Ally Bank 201,000.00 3.400% 20,427.10 221,427.10 549104RV1 08/14/20 08/14/25 Luana Savings Bank 249,000.00 0.450% 5,605.57 254,605.57 32022RNT0 08/19/20 08/19/25 1st Financial Bank 249,000.00 0.450% 5,605.82 254,605.82 31944MBB0 08/20/20 08/20/25 1st Carolina Bank 249,000.00 0.450% 5,605.82 254,605.82 664122AF5 08/20/20 08/20/25 Northeast Community Bank 249,000.00 0.450% 5,605.82 254,605.82 228212AQ9 09/04/20 09/04/25 Crown Bank 249,000.00 0.400% 4,982.62 253,982.62 59013KKJ4 09/15/20 09/15/25 Merrick 249,000.00 0.400% 4,982.62 253,982.62 2027506P5 10/22/20 09/25/25 Commonwealth Bus Bank 249,000.00 0.400% 4,908.94 253,908.94 51507LBY9 09/29/20 09/29/25 Landmark Community 249,000.00 0.400% 4,982.58 253,982.58 538036LQ5 10/22/20 10/08/25 Live Oak Bank 249,000.00 0.400% 4,944.42 253,944.42 560390AS5 10/15/20 10/15/25 Maine Comm Bank 249,000.00 0.350% 4,359.94 253,359.94 33625CDS5 10/16/20 10/16/25 First Security Bank Wash 249,000.00 0.350% 4,359.94 253,359.94 780684AJ5 11/06/20 10/23/25 Royal Savings Bank 249,000.00 0.400% 4,944.42 253,944.42 33744AAW9 11/18/20 11/18/25 First US Bank 249,000.00 0.400% 4,982.62 253,982.62 88413QCU0 12/18/20 12/18/25 Third Federal Savings and Loan 249,000.00 0.450% 5,605.56 254,605.56 91330ACR6 12/18/20 12/18/25 Unity Bank 249,000.00 0.400% 4,982.72 253,982.72 08016PDV8 12/23/20 12/23/25 Belmont Savings Bank 249,000.00 0.400% 4,982.62 253,982.62 634116CW5 12/28/20 12/23/25 National Bank of NY City 249,000.00 0.400% 4,968.98 253,968.98 882214AA7 01/08/21 12/23/25 Texas Bank Henderson 249,000.00 0.450% 5,556.70 254,556.70 06424KBH2 01/08/21 01/08/26 Bank of Santa Clarita 249,000.00 0.400% 4,982.62 253,982.62 38522ABP0 01/08/21 01/08/26 Grand Bank Tulsa 249,000.00 0.400% 4,982.62 253,982.62 20143PEH9 01/26/21 01/26/26 Commercial Bank 249,000.00 0.471% 5,605.82 254,605.82 15258RAV9 01/27/21 01/27/26 Central Bank Storm Lake 249,000.00 0.471% 5,605.82 254,605.82 43786UAJ2 02/18/21 01/29/26 Hometown Bk of Alabama 249,000.00 0.400% 4,928.04 253,928.04 909242AN9 02/26/21 02/26/26 United Rep Bk Omaha 249,000.00 0.400% 4,982.61 253,982.61 12527CDV1 03/03/21 03/03/26 CFG Community Bk 249,000.00 0.400% 4,982.73 253,982.73 110087AS2 03/10/21 03/10/26 Bristol Morgan Bank 249,000.00 0.450% 5,605.82 254,605.82 87164XA30 09/03/21 09/03/26 Syncrony Bank 249,000.00 0.900% 11,205.00 260,205.00 90348JS92 09/09/21 09/09/26 UBS Bank USA 249,000.00 0.950% 11,834.03 260,834.03 795451BH5 04/05/22 02/23/27 Sallie May Bank 247,000.00 2.564% 26,574.50 273,574.50 598580AM0 03/08/23 03/08/27 Mifflinburg Bank and Trust Company 249,000.00 4.650% 46,345.77 295,345.77 27004PCN1 03/09/22 03/09/27 Eaglemark Savings 247,000.00 2.000% 24,713.53 271,713.53 64034KBF7 03/09/22 03/09/27 Nelnet Bank Inc 247,000.00 1.950% 24,095.69 271,095.69 07371CN21 03/16/22 03/10/27 Beal Bank NV 247,000.00 1.800% 22,169.09 269,169.09 07371AB28 03/16/22 03/10/27 Beal Bank TX 247,000.00 1.800% 22,169.09 269,169.09 02589ABW1 03/23/22 03/23/27 American Exp Bank 247,000.00 2.200% 27,184.89 274,184.89 31938QW34 02/15/22 04/15/27 First Business Bank 245,000.00 3.900% 33,790.69 278,790.69 254673D94 05/18/22 05/19/27 Discover Bank 246,000.00 3.200% 39,403.14 285,403.14 910286GS6 07/14/23 07/14/27 United Fidelity Bank 249,000.00 4.600% 45,847.38 294,847.38 78577TMR3 11/06/23 08/06/27 Saco & Biddeford Savings Institution 244,000.00 5.000% 45,750.00 289,750.00 68405VAU3 09/15/23 09/13/27 Optum Bank 244,000.00 4.700% 45,872.00 289,872.00 20347MAS0 10/20/23 10/20/27 Community Bank and Trust 244,000.00 4.900% 47,824.00 291,824.00 37173RAJ2 12/13/23 12/13/27 Genesee Regional Bank 244,000.00 4.400% 42,944.00 286,944.00 34520LAY9 12/15/22 12/15/27 Forebright Bank 249,000.00 4.031% 49,827.34 298,827.34 84229LBJ0 12/16/22 12/16/27 Southern Bank 245,000.00 4.000% 49,026.84 294,026.84 32026U4X1 01/17/24 01/18/28 First Foundation Bank 245,000.00 4.000% 38,689.86 283,689.86 70212YBE1 02/22/23 02/22/28 Partners Bank California 245,000.00 3.850% 47,188.34 292,188.34 062119BH4 03/08/23 03/07/28 Bank Five Nine 249,000.00 4.550% 56,678.44 305,678.44 05580AW59 03/10/23 03/10/28 BMW Bank North America 244,000.00 4.600% 56,181.50 300,181.50 108622NK3 03/29/23 03/29/28 Bridgewater Bk 249,000.00 4.800% 59,825.54 308,825.54 178180GY5 03/31/23 03/31/28 City Natl Bk - Los Angeles 243,000.00 5.000% 60,816.56 303,816.56 914098DQ8 04/03/23 04/03/28 University Bank NA 249,000.00 4.800% 59,825.53 308,825.53 61768E3D3 05/08/24 05/08/28 Morgan Stanley Bank NA 244,000.00 4.700% 45,903.42 289,903.42 05600XQE3 05/16/23 05/16/28 BMO Harris Bank NA 244,000.00 4.500% 54,960.16 298,960.16 23204HPB8 06/06/23 06/14/28 Customers Bank 244,000.00 4.500% 53,365.81 297,365.81 91527PCD7 06/06/23 06/21/28 Univest Bank & Trust 249,000.00 4.500% 56,546.88 305,546.88 501798UJ9 07/18/23 07/18/28 LCA Bank Corporation 243,000.00 4.500% 54,734.92 297,734.92 Nov. 21, 2024 Item #1 Page 24 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return July 31, 2024 58404DTG6 09/19/23 09/19/28 Medallion Bank 249,000.00 4.600% 57,332.81 306,332.81 59936MAA4 09/25/23 09/25/28 Milford Building & Loan 244,000.00 4.550% 55,510.00 299,510.00 84287PJB9 10/17/23 10/17/28 Southern First Bank 244,000.00 4.850% 59,170.00 303,170.00 949765HZ0 11/21/23 11/21/28 Wells Fargo Bank NA 248,000.00 5.050% 62,898.31 310,898.31 523343AA9 12/29/23 12/29/28 Ledyark National Bank 244,000.00 4.050% 49,464.16 293,464.16 227563EX7 03/12/24 03/07/29 Cross River Bank 244,000.00 4.250% 51,736.36 295,736.36 04518XAH7 03/14/24 03/14/29 Asian Bank 244,000.00 4.200% 51,268.08 295,268.08 38150VUH0 05/21/24 05/21/29 Goldman Sachs Bank 244,000.00 4.500% 54,930.08 298,930.08 93883MAZ1 05/22/24 05/22/29 Washington Financial Bank 244,000.00 4.450% 54,319.75 298,319.75 06652CHX2 07/31/24 07/31/29 Bankwest Inc 248,000.00 4.900% 60,760.00 308,760.00 Total certificate of deposit 22,481,000.00$ 2.162% 2,301,345.22$ 24,782,345.22$ CUSIP Settlement Maturity Issuer Par Yield Interest Return 3137FBTA4 03/10/21 08/25/24 FHLM - FHMS K728 1,365,094.80 3.064% 5,221.56 1,370,316.36 3137F32A1 04/15/20 11/25/24 FHLM - KHG1 A1 353,405.40 0.999% 2,937.05 356,342.45 3137BL6J2 07/22/22 12/25/24 FHLM - FHMS K048 A1 210,236.65 3.425% 1,637.85 211,874.50 3137BM7B6 06/30/22 04/25/25 FHMS - K051 A1 1,602,474.97 3.299% 20,954.75 1,623,429.72 30315EAA4 07/24/20 05/25/25 FRESB - MFM 876,694.69 0.830% 3,580.70 880,275.39 3137BJQ71 03/15/21 05/25/25 FHLM - FHMS KPLB A 2,000,000.00 2.770% 27,334.06 2,027,334.06 30318NAA1 02/19/21 01/25/26 FRESB - 2021-SB83 1,199,052.62 0.505% 7,185.36 1,206,237.98 3137BPW21 03/25/21 03/25/26 FHLM - KHMS K055 2,500,000.00 2.673% 59,636.80 2,559,636.80 3137BP4J5 08/20/21 03/25/26 FHLM - FHMS K1R1 926,265.28 0.414% 20,206.96 946,472.24 30321CAQ5 07/23/21 04/25/26 FRESB - 2021-SB88 1,659,762.15 0.746% 13,540.06 1,673,302.21 30324QAC2 01/21/22 11/25/26 FRESB - 2022-SB94 3,930,076.54 1.500% 77,306.69 4,007,383.23 30311SAA7 04/22/22 04/25/27 FRESB - 2022-SB97 3,294,217.43 2.803% 79,064.79 3,373,282.22 30329MAA0 10/28/22 06/25/27 FRESB - 2022-SB103 1,467,330.98 4.989% 45,015.95 1,512,346.93 30329QAA1 11/18/22 09/25/27 FRESB - 2022-SB104 3,874,611.08 2.600% 160,584.56 4,035,195.64 3138L7D60 12/16/22 10/01/27 FHLM - AM6424 959,695.09 4.212% 52,660.23 1,012,355.32 3132XGRH1 01/27/23 11/01/27 FRESB - WN2287 2,969,351.76 3.929% 180,280.07 3,149,631.83 3132XFGC6 01/08/24 03/01/28 FHLM - WN1094 1,000,000.00 4.476% 25,320.13 1,025,320.13 3140LBSE4 01/09/24 03/01/28 FNMA - BS1416 1,000,000.00 4.300% 19,127.78 1,019,127.78 3140LJJC1 01/17/24 04/01/28 FNMA - BS7458 2,000,000.00 4.780% 176,564.32 2,176,564.32 3140LKEG4 01/09/24 05/01/28 FNMA - BS8234 1,381,540.00 4.448% 114,302.49 1,495,842.49 3132XFMP0 02/06/24 05/01/28 FHLM - WN1265 2,000,000.00 4.611% 178,924.69 2,178,924.69 30332EAA3 07/20/23 05/25/28 FRESB - 2023-SB107 2,994,204.59 4.090% 237,055.86 3,231,260.45 35564CAA5 01/11/24 06/25/28 FHLM - SLST 2018 964,310.48 5.366% 66,561.79 1,030,872.27 30333AAA0 08/17/23 06/25/28 FRESB - 2023-SB108 3,489,052.26 4.793% 293,599.26 3,782,651.52 3132XGYJ9 03/07/24 09/01/28 FHLM - WN2512 1,550,000.00 4.800% 136,687.70 1,686,687.70 30334CAA5 11/16/23 09/25/28 FRESB - 2023-SB111 2,748,729.40 5.284% 273,829.18 3,022,558.58 3132XGYR1 03/18/24 11/01/28 FHLM - WN2519 2,500,000.00 4.797% 254,258.51 2,754,258.51 3132XFNX2 02/13/24 11/01/28 FHLM - WN1305 2,000,000.00 4.350% 187,826.65 2,187,826.65 3132XGYU4 03/15/24 12/01/28 FHLM - WN2522 3,000,000.00 4.530% 297,782.72 3,297,782.72 3140NUFX2 01/30/24 12/01/28 FNMA - BZ0181 3,000,000.00 4.920% 324,833.04 3,324,833.04 30336BAA5 04/25/24 12/25/28 FRESB - 2024-SB113 3,499,669.07 5.217% 397,701.07 3,897,370.14 3132XGZE9 03/13/24 01/01/29 FHLM - WN2540 3,500,000.00 4.900% 321,986.93 3,821,986.93 3140NUN54 01/29/24 01/01/29 FNMA - BZ0411 2,000,000.00 4.400% 187,433.31 2,187,433.31 3140HRZS5 01/17/24 01/01/29 FNMA - BL0752 1,500,000.00 3.650% 117,723.22 1,617,723.22 3140NUUA5 03/19/24 03/01/29 FNMA - BZ0576 2,000,000.00 4.561% 210,462.28 2,210,462.28 3140NUUL1 03/13/24 03/01/29 FNMA - BZ0586 2,000,000.00 4.371% 197,991.82 2,197,991.82 30337MAA0 06/27/24 03/25/29 FRESB - 2024-SB114 2,999,596.73 4.990% 358,369.67 3,357,966.40 3132XFQN1 07/02/24 04/01/29 FHLM - WN1360 2,000,000.00 4.568% 188,035.11 2,188,035.11 3132XG3G9 07/23/24 06/01/29 FHLM - WN3598 2,000,000.00 4.592% 210,929.09 2,210,929.09 Total mortgage backed securities (agency)80,315,371.97$ 3.895%5,534,454.06$ 85,849,826.03$ Mortgage backed securities (agency) Nov. 21, 2024 Item #1 Page 25 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return July 31, 2024 005158XL9 06/17/21 08/15/24 Ada & Canyon County School District 1,500,000.00 0.520% 237,083.33 1,737,083.33 419792ZK5 02/26/21 10/01/24 State of Hawaii 3,000,000.00 0.433% 86,549.17 3,086,549.17 419792ZK5 03/17/22 10/01/24 State of Hawaii 2,000,000.00 2.160% 40,723.78 2,040,723.78 79771FAX5 03/01/21 11/01/24 San Francisco City Public Utilities 1,000,000.00 0.600% 26,523.31 1,026,523.31 575181GX 06/02/21 12/01/24 Mason & Kitsap Counties School District 640,000.00 0.538% 12,041.64 652,041.64 023051YW9 07/19/21 02/01/25 Amarillo Independent SD 1,800,000.00 0.600%- 1,800,000.00 882806HG0 03/22/21 02/15/25 Texas St Tech Univ 2,500,000.00 0.679% 93,800.00 2,593,800.00 91412HGE7 03/01/21 05/15/25 University of California 1,500,000.00 0.600% 55,724.13 1,555,724.13 91412HGE7 06/29/21 05/15/25 University of California 1,960,000.00 0.799% 67,111.92 2,027,111.92 625506QN3 02/02/21 06/15/25 County of Multnomah OR 2,000,000.00 0.430% 37,553.89 2,037,553.89 91412GU94 01/28/21 07/01/25 University of California 1,805,000.00 0.509% 244,645.68 2,049,645.68 20772KEW5 06/30/22 09/15/25 State of Connecticut 2,850,000.00 3.201% 476,400.00 3,326,400.00 13063DMA3 04/01/21 04/01/26 State of California 4,140,000.00 0.970% 161,300.35 4,301,300.35 13063DMA3 05/18/21 04/01/26 State of California 1,250,000.00 0.910% 342,250.56 1,592,250.56 736688MF6 09/01/21 06/15/26 Portland Community College 1,100,000.00 0.841% 122,255.56 1,222,255.56 569280EX4 12/07/21 06/15/26 Marion County School 1,880,000.00 1.374% 548,550.00 2,428,550.00 842475P82 02/11/22 07/01/26 Sthrn CA ST Pub Pwr Auth 2,485,000.00 1.930% 47,357.32 2,532,357.32 797272QR5 08/12/21 08/01/26 San Diego Community College 3,000,000.00 0.860% 33,041.17 3,033,041.17 801315KR2 08/23/21 08/01/26 Santa Barbara CA USD 500,000.00 0.842% 81,862.08 581,862.08 798189PY6 08/23/21 08/01/26 San Jose Evergreen Community College 750,000.00 0.842% 101,809.78 851,809.78 798170AJ5 01/06/22 08/01/26 San Jose Redevelopment 3,000,000.00 1.507% 342,742.58 3,342,742.58 6041295T9 08/10/22 08/01/26 Minnesota State 1,215,000.00 3.250% 174,512.81 1,389,512.81 79730CJK1 04/22/24 08/01/26 San Diego Pub Fin Auth Water Revenue 2,000,000.00 5.035% 86,586.50 2,086,586.50 13063DRD2 02/08/22 10/01/26 State of California 2,400,000.00 1.730% 170,415.98 2,570,415.98 419792ZN9 03/02/22 10/01/26 State of Hawaii 2,000,000.00 1.810% 264,891.67 2,264,891.67 13067WSW3 12/20/21 12/01/26 State of California 1,275,000.00 1.051% 977,643.33 2,252,643.33 13067WSW3 03/29/22 12/01/26 State of California 1,425,000.00 2.708% 84,523.29 1,509,523.29 13067WSW3 04/18/22 12/01/26 State of California 2,705,000.00 3.035% 90,565.95 2,795,565.95 016249FQ2 10/30/23 02/15/27 Alief Independent School District 1,980,000.00 5.380% 360,360.00 2,340,360.00 544646A77 06/13/22 05/01/27 Los Angeles Unified School District 3,500,000.00 3.820% 15,705.20 3,515,705.20 68608VDX9 10/13/23 05/01/27 State of Oregon 1,000,000.00 5.080% 132,640.00 1,132,640.00 91412HGF4 05/15/23 05/15/27 University of California 1,000,000.00 3.810% 52,640.00 1,052,640.00 91412HGF4 05/16/24 05/15/27 University of California 2,500,000.00 4.712% 98,700.00 2,598,700.00 91412HGF4 05/03/24 05/15/27 University of California 1,000,000.00 4.780% 46,060.00 1,046,060.00 544495VX9 08/27/23 07/01/27 Los Angeles Dept of Water & Power 1,500,000.00 4.100% 345,669.33 1,845,669.33 419794F72 06/06/23 07/01/27 State of Hawaii 1,125,000.00 4.720% 82,624.50 1,207,624.50 438701Y40 06/28/23 07/01/27 Honolulu Wastewater System Revenue 1,500,000.00 4.460% 168,412.50 1,668,412.50 796720NT3 02/22/23 08/01/27 San Bernardino Community College Dist 1,500,000.00 1.480% 107,266.25 1,607,266.25 357155BA7 05/09/23 08/01/27 Fremont CA Unified School District 2,000,000.00 3.750% 94,110.34 2,094,110.34 68609TU22 08/22/23 08/01/27 Oregon State Dept of Transportation 1,585,000.00 1.354% 85,843.60 1,670,843.60 212204JH5 08/31/23 08/01/27 Contra Costa CA Community College Dist 1,000,000.00 4.720% 86,520.00 1,086,520.00 797272RP8 10/25/23 08/01/27 San Diego Community College 2,290,000.00 5.161% 149,582.80 2,439,582.80 072031AP2 08/01/23 10/01/27 Bay Area Water 1,250,000.00 4.742% 189,281.25 1,439,281.25 032556FB3 10/17/23 10/01/27 City of Anaheim 1,670,000.00 1.998% 133,466.40 1,803,466.40 68607DVD4 06/16/23 11/15/27 Oregon State Dept of Transportation 2,000,000.00 4.370% 97,560.00 2,097,560.00 13063DC48 12/14/23 02/01/28 State of California 1,440,000.00 4.500% 110,160.00 1,550,160.00 13063DGC6 07/23/24 04/01/28 State of California 3,000,000.00 4.474% 420,000.00 3,420,000.00 54438CYM8 12/19/23 08/01/28 Los Angeles Community College Dist 2,250,000.00 4.350% 180,675.00 2,430,675.00 802385SN5 11/17/23 08/01/28 Santa Monica Community College Dist 1,000,000.00 4.950% 176,350.00 1,176,350.00 798170AL0 08/09/23 08/01/28 San Jose Redevelopment 1,000,000.00 4.742% 189,281.25 1,189,281.25 83412PHS4 01/22/24 08/01/28 Solano County Community College Dist 2,000,000.00 4.227% 147,900.00 2,147,900.00 7994082H1 08/24/23 08/01/28 San Ramon Valley School District 1,000,000.00 4.850% 83,500.00 1,083,500.00 695802NN4 12/07/23 08/01/28 Pajaro Valley Unified School District 1,200,000.00 4.294% 257,640.00 1,457,640.00 882723B40 11/21/23 10/01/28 State of Texas 1,500,000.00 4.700% 248,325.00 1,748,325.00 882724RD1 11/21/23 10/01/28 State of Texas PFA 2,000,000.00 4.750% 227,600.00 2,227,600.00 13063DL22 11/15/23 10/01/28 State of California 1,000,000.00 5.008% 87,500.00 1,087,500.00 Municpal bonds Nov. 21, 2024 Item #1 Page 26 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return July 31, 2024 13077DQG0 02/08/24 11/01/28 California State University 2,500,000.00 4.260% 190,125.00 2,690,125.00 59320A30 05/01/24 05/01/29 City of Miami Beach FL 1,400,000.00 4.674% 327,180.00 1,727,180.00 769036BR4 06/03/24 06/01/29 City of Riverside 1,375,000.00 4.895%194,081.25 1,569,081.25 Total municpal bonds 104,745,000.00$ 2.766% 10,095,225.44$ 114,840,225.44$ CUSIP Settlement Maturity Issuer Par Yield Interest Return N/A N/A N/A Wells Fargo Bank - General 2,220,949.00 0.000%- 2,220,949.00 N/A N/A N/A Wells Fargo Sweep account 7,690,448.45 5.184% 33,221.71 7,723,670.16 N/A N/A N/A Principal - Custody 2,856,382.02 2.950% 7,021.94 2,863,403.96 N/A N/A N/A CAMP 111,787,474.33 5.430% 505,838.32 112,293,312.65 N/A N/A N/A LAIF City 213,565.13 4.516%803.72 214,368.85 N/A N/A N/A LAIF CMWD 863,213.83 4.516% 3,248.56 866,462.39 N/A N/A N/A LAIF CPFA 790,735.93 4.516%2,975.80 793,711.73 Total cash and pooled investments 126,422,768.69$ 5.250%553,110.05$ 126,975,878.74$ GRAND TOTAL 882,114,140.66$ 2.8891%73,757,722.66$ 955,871,863.32$ Cash and pooled investments Nov. 21, 2024 Item #1 Page 27 of 86 City of Carlsbad investment portfolio 115 Trust Activity Exhibit 10 Period Ending Contributions Net Earnings Distributions Ending Balance Fiscal year 2023-24 10,000,000.00 849,412.96 - 10,849,412.96 07/31/24 - 260,092.28 - 11,109,505.24 Summary 10,000,000.00$ 1,109,505.24$ -$ 11,109,505.24$ July 31, 2024 The city's Section 115 Trust is a post-employment benefit trust that was established by City Council on September 12, 2023 (Resolution 2023-240). In connection with City Council Policy No. 86 and 98, the trust allows the city to stabilize pension cost volatility, maintain local control over the city's assets and earn a potentially higher rate of return than if the assets were kept in the General Fund. These funds are restricted and not pooled with other investment funds. Nov. 21, 2024 Item #1 Page 28 of 86 Meeting Date: Oct. 8, 2024 To: Mayor and City Council From: Scott Chadwick, City Manager Staff Contact: Zach Korach, Finance Director/Deputy City Treasurer zach.korach@carlsbadca.gov, 442-339-2127 Subject: Report on City Investments as of Aug. 31, 2024 District: All Recommended Action Accept and file Report on City Investments as of Aug. 31, 2024. Executive Summary The city’s Investment Policy requires the City Treasurer to report the status of the city’s pooled investment portfolio to the City Council each month. Discussion & Fiscal Analysis The city’s pooled investment portfolio as of the month ending Aug. 31, 2024, is summarized below. Pooled investment portfolio (cash and securities) Current month Prior month Par value1 $886,987,795 $882,114,141 Investment cost $881,873,237 $877,922,449 Amortized cost2 $880,836,137 $876,134,515 Market value3 $867,374,756 $857,825,951 (1)The face value of the investments. (2)The cost of investments adjusted for amortized premiums and discounts. (3)The amount at which the investments could be sold. Source of market value is Principal custodial report. Exhibit 2 Nov. 21, 2024 Item #1 Page 29 of 86 The equity portion of the various funds in the total portfolio, that is, the part of the total investment portfolio assigned to each fund, is summarized in the graph below. Fund balances are restricted for various purposes (See Exhibit 6 for a more detailed breakdown). Pooled investment interest income4 Fiscal year to date Current month Prior month Cash income $4,694,577 $2,225,463 $2,469,114 (4) The cash income received is adjusted for any received interest previously purchased. Pooled investment performance Average life (years) Yield5 Modified duration June 2024 1.85 2.88% 1.59 July 2024 1.95 2.89% 1.68 August 2024 1.92 2.94% 1.65 (5) Yield is computed by totaling the weighted average of each investment’s return less any costs. All pooled investments have been made in accordance with the city’s Investment Policy, which was adopted Jan. 2, 1985, and last revised Mar. 12, 2024; however, events after the purchase might result in perceived non-compliance with the current policy. These events are typically a change in the credit rating after a purchase, a change in the city’s Investment Policy, or a temporary reduction in total portfolio assets. Capital projects, $409 Enterprise, $211 General, $137 Internal service, $83 Special revenue, $37 Fiduciary, $3 Fund equity in pooled investments (in millions) Nov. 21, 2024 Item #1 Page 30 of 86 Exhibit 7 shows the investments out of compliance with the current policy that experienced a subsequent change in credit rating. Ratings on one investment has dropped to less than the rating required by the Investment Policy since the initial purchase. In addition, one investment was refunded and collateralized by the US Treasury since the initial purchase and is therefore not rated. Corporate notes and municipal bonds require a “split rating” of AA from one rating company and an A rating from a second. Mortgage-backed securities require an AA rating from one rating company. The city’s Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. All investments are paying interest at the required times and their principal is considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events indicate they should be sold. Not less than two-thirds (66.67%) of the current fiscal year operating budget shall mature within one year. The maturity value within one year is $306,884,068 which is 73.24% of the current year operating budget. The investment portfolio has the ability to meet the city’s anticipated cash flow demands for the next six months. Next Steps The report on city investments will continue to be produced monthly by the Deputy City Treasurer until the new City Treasurer is elected in November 2024. Environmental Evaluation This action does not require environmental review because it does not constitute a project within the meaning of the California Environmental Quality Act under California Public Resources Code Section 21065 in that it has no potential to cause either a direct physical change or a reasonably foreseeable indirect physical change in the environment. Exhibits 1. Investments by cost, market value, cash income and average yield by class 2. Maturities by classification and length of time at market value 3. Yield comparison & market yield curve 4. Cash income by month & cumulative cash income 5. Maturities, calls and purchases this quarter 6. Fund equity in pooled investments 7. Security ratings and outlooks 8. Portfolio allocation at amortized cost by issuer 9. Investment detail 10. Section 115 Trust activity Nov. 21, 2024 Item #1 Page 31 of 86 City of Carlsbad investment portfolio Investments by cost, market value, cash income and average yield by class Exhibit 1 Investment cost Market value Average yield Class Current month Prior month Current month Prior month YTD net income Current month Prior month Percent of total Certificate of deposit 22,224,876.92$ 22,473,876.92$ 21,874,145.07$ 21,897,207.84$ 66,989.74$ 2.16% 2.16% 2.52% Corporate notes 122,738,666.00 125,390,796.00 118,160,255.15 119,824,080.96 624,834.72 2.56% 2.51% 13.62% Federal agency 346,533,570.97 348,750,195.97 339,327,961.68 339,295,953.39 1,398,542.79 2.12% 2.12% 39.12% Mortgage passthrough securities 80,325,068.70 79,615,433.10 80,056,102.88 78,618,748.89 462,233.15 3.94% 3.90% 9.23% Municipal bonds 100,126,207.90 102,017,450.40 98,968,089.95 99,896,286.60 614,282.58 2.80% 2.77% 11.41% Supranational securities 20,176,492.00 22,183,412.00 19,642,189.80 21,526,337.10 67,060.00 2.05% 1.99% 2.26% US Treasury 53,591,562.73 51,068,515.85 53,189,220.00 50,344,567.50 161,485.23 2.69% 2.63% 6.13% General cash account 2,763,702.00 2,220,949.00 2,763,702.00 2,220,949.00 - 0.00% 0.00% 0.32% Sweep account 2,671,276.77 7,690,448.45 2,671,276.77 7,690,448.45 133,387.76 5.16% 5.18% 0.31% Investment cash account 1,514,679.82 2,856,382.02 1,514,679.82 2,856,382.02 28,278.54 2.95% 2.95% 0.17% California Asset Mgmt Program (CAMP) 127,339,617.99 111,787,474.33 127,339,617.99 111,787,474.33 1,116,646.24 5.41% 5.43% 14.68% Local Agency Investment Fund (LAIF) 1,867,514.89 1,867,514.89 1,867,514.89 1,867,514.89 20,836.02 4.58% 4.52% 0.22% Total 881,873,236.69$ 877,922,448.93$ 867,374,756.00$ 857,825,950.97$ 4,694,576.77$ 2.94% 2.89% 100.00% Policy: Certificates of deposit and corporate notes are limited to 30% of total portfolio at the time of purchase. Municipal bonds are limited to 15% of total portfolio at the time of purchase. Supranational securities are limited to 10% of total portfolio at the time of purchase. Aug. 31, 2024 Nov. 21, 2024 Item #1 Page 32 of 86 City of Carlsbad investment portfolio Maturities by classification and length of time at market value Exhibit 2 Class Overnight Within 12 months 13-36 months 37-60 months Total Certificate of deposit $ - 6,747,202.07$ 8,090,078.54$ 7,036,864.46$ 21,874,145.07$ Corporate notes - 28,648,018.65 56,306,407.00 33,205,829.50 118,160,255.15 Federal agency - 92,182,746.90 142,381,021.48 104,764,193.30 339,327,961.68 Mortgage passthrough securities - 3,081,371.23 14,136,981.35 62,837,750.30 80,056,102.88 Municipal bonds - 17,918,374.90 53,198,016.05 27,851,699.00 98,968,089.95 Supranational securities - 3,422,108.80 8,647,840.00 7,572,241.00 19,642,189.80 US Treasury - 18,727,450.00 26,202,155.00 8,259,615.00 53,189,220.00 General cash account 2,763,702.00 - - - 2,763,702.00 Sweep account 2,671,276.77 - - - 2,671,276.77 Investment cash account 1,514,679.82 - - - 1,514,679.82 California Asset Mgmt Program (CAMP) 127,339,617.99 - - - 127,339,617.99 Local Agency Investment Fund (LAIF) 1,867,514.89 - - - 1,867,514.89 Totals 136,156,791.47$ 170,727,272.55$ 308,962,499.42$ 251,528,192.56$ 867,374,756.00$ Percent Total 15.70%19.68%35.62%29.00%100.00% 306,884,064.02$ 73.24% Policy: Maximum term for all securities is five years. Not less than $279,333,609 to mature within one year, two-thirds of FY 24-25 operating budget of $419,000,413. Aug. 31, 2024 Percentage of the budget Funds maturing within one year Nov. 21, 2024 Item #1 Page 33 of 86 City of Carlsbad investment portfolio Yield comparisons Exhibit 3 Aug. 31, 2024 0.00 1.00 2.00 3.00 4.00 5.00 6.00 3 month 2 year 5 year 10 year FY 22-23 end 5.43 4.87 4.13 3.81 FY 23-24 end 5.48 4.71 4.33 4.36 Aug. 2024 5.21 3.91 3.71 3.91 Ma r k e t r a t e ( % ) Yield comparison: market yields Fiscal year ends compared to current 0.00 1.00 2.00 3.00 4.00 5.00 6.00 Yi e l d ( % ) Yield comparison: Securities vs CAMP vs LAIF Three year comparison Securities CAMP LAIF Nov. 21, 2024 Item #1 Page 34 of 86 City of Carlsbad investment portfolio Cash income Exhibit 4 Fiscal year 2023-24 Aug. 31, 2024 Fiscal year 2023-24 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 In t e r e s t I n c o m e Cash income by month 13-month comparison $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 In t e r e s t I n c o m e Cumulative cash income 13-month comparison, by fiscal year Nov. 21, 2024 Item #1 Page 35 of 86 City of Carlsbad investment portfolio Maturities, calls and purchases this quarter Exhibit 5 CUSIP Issuer Settled Maturity Yield Par value Book value Total Interest Total Certificate of deposit 14042RMN8 Capital One 07/31/19 07/31/24 2.25% 247,000.00$ 247,000.00$ 27,817.96$ 274,817.96$ 938828BM1 Washington Federal 08/30/19 08/30/24 2.00% 249,000.00 249,000.00 24,927.42 273,927.42 Corporate notes 742651DP4 Private Export Funding 06/28/19 07/15/24 2.45% 2,500,000.00$ 2,565,850.00$ 309,142.36$ 2,809,142.36$ 023135AZ9 Amazon.com Inc 08/26/19 08/22/24 2.80% 2,000,000.00 2,000,000.00 279,377.78 2,279,377.78 023135AZ9 Amazon.com Inc 10/17/19 08/22/24 2.80% 2,500,000.00 2,500,000.00 339,305.56 2,839,305.56 Federal agency 3133ELQ56 Federal Farm Credit Banks 03/21/22 07/02/24 0.57% 2,005,000.00$ 1,942,243.50$ 26,063.33$ 2,031,063.33$ 3130AP7D1 Federal Home Loan Banks 12/10/21 07/19/24 0.45% 2,000,000.00 1,978,000.00 26,063.33 2,026,063.33 3133ELX66 Federal Farm Credit Banks 07/24/20 07/22/24 0.44% 2,000,000.00 2,000,000.00 35,151.11 2,035,151.11 3133EKWV4 Federal Farm Credit Banks 08/08/19 07/26/24 1.85% 2,500,000.00 2,532,125.00 229,708.33 2,729,708.33 3134GW4X1 Federal Home Loan Mortgage Corp 10/29/20 07/29/24 0.38% 3,000,000.00 3,000,000.00 42,187.50 3,042,187.50 3130AGWK7 Federal Home Loan Banks 11/10/20 08/15/24 1.50% 4,000,000.00 4,000,000.00 225,833.33 4,225,833.33 Mortgage passthrough securities 30311SAA7 FRESB - 2022-SB97 A5F 04/22/22 07/25/24 2.80%5,252.06$ 5,043.91$ 4,894.21$ 10,146.27$ 30315EAA4 FRESB - MFM 07/24/20 07/25/24 0.83%1,467.29 1,474.47 607.40 2,074.69 30318NAA1 FRESB - 2021-SB83 02/19/21 07/25/24 0.51%2,246.73 2,257.28 630.68 2,877.41 30321CAQ5 FRESB - 2021-SB88 A5F 07/23/21 07/25/24 0.75%2,994.08 3,008.14 1,219.35 4,213.43 30324QAC2 FRESB - 2022-SB94 01/21/22 07/25/24 1.50%7,250.00 7,283.53 5,381.01 12,631.01 30329MAA0 FRESB - 2022-SB103 A5F 10/28/22 07/25/24 4.99%2,122.02 1,901.09 2,547.05 4,669.07 30329QAA1 FRESB - 2022-SB104 A5F 11/18/22 07/25/24 2.60%4,955.63 4,523.69 8,405.73 13,361.36 30332EAA3 FRESB - 2023-SB107 A5F 07/20/23 07/25/24 4.09%990.32 968.79 10,208.62 11,198.94 30333AAA0 FRESB - 2023-SB108 A5F 08/17/23 07/25/24 4.79%1,961.43 1,919.16 12,364.01 14,325.44 30334CAA5 FRESB - 2023-SB111 A5F 11/16/23 07/25/24 5.28%171.61 167.77 10,789.44 10,961.05 30336BAA5 FRESB - 2024-SB113 04/25/24 07/25/24 5.22%117.93 116.94 14,640.78 14,758.71 30337MAA0 FRESB - 2024-SB114 06/27/24 07/26/24 4.99%403.27 405.27 12,475.00 12,878.27 3132XGRH1 FRESB - WN2287 01/27/23 07/25/24 3.93%4,022.67 3,986.21 9,143.13 13,165.80 3137BL6J2 FHLM - FHMS K048 A1 07/22/22 07/25/24 3.43%76,733.60 75,966.26 643.05 77,376.65 3137BM7B6 FHMS - K051 A1 06/30/22 07/25/24 3.30%98,529.11 97,759.35 4,062.78 102,591.89 3137BP4J5 FHLM - FHMS K1R1 08/20/21 07/25/24 0.41%45,535.77 47,691.60 1,980.86 47,516.63 3137F32A1 FHLM - KHG1 A1 04/15/20 07/25/24 0.99%91,816.92 98,416.26 1,239.57 93,056.49 3137FBTA4 FHLM - FHMS K728 03/10/21 07/25/24 3.06% 473,244.90 510,457.48 4,693.89 477,938.79 3138L7D60 FHLM - AM6424 12/16/22 07/25/24 4.21%2,571.60 2,489.63 2,766.52 5,338.12 35564CAA5 FHLM - SLST 2018 01/11/24 07/25/24 5.37%10,133.15 9,725.05 2,842.13 12,975.28 30311SAA7 FRESB - 2022-SB97 A5F 04/22/22 08/26/24 2.80%4,999.09 4,800.97 4,886.42 9,885.51 30315EAA4 FRESB - MFM 07/24/20 08/26/24 0.83%1,393.03 1,399.84 606.38 1,999.41 30318NAA1 FRESB - 2021-SB83 02/19/21 08/26/24 0.51%2,149.27 2,159.36 629.50 2,778.77 30321CAQ5 FRESB - 2021-SB88 A5F 07/23/21 08/26/24 0.75%2,849.42 2,862.80 1,217.16 4,066.58 Aug. 31, 2024 Maturities Nov. 21, 2024 Item #1 Page 36 of 86 City of Carlsbad investment portfolio Maturities, calls and purchases this quarter Aug. 31, 2024 CUSIP Issuer Settled Maturity Yield Par value Book value Interest Total 30324QAC2 FRESB - 2022-SB94 01/21/22 08/26/24 1.50%6,927.87 6,959.91 5,371.11 12,298.98 30329MAA0 FRESB - 2022-SB103 A5F 10/28/22 08/26/24 4.99%1,994.00 1,786.40 2,543.37 4,537.37 30329QAA1 FRESB - 2022-SB104 A5F 11/18/22 08/26/24 2.60%50,551.87 46,145.67 8,394.99 58,946.86 30332EAA3 FRESB - 2023-SB107 A5F 07/20/23 08/26/24 4.09%864.30 845.51 10,205.25 11,069.55 30333AAA0 FRESB - 2023-SB108 A5F 08/17/23 08/26/24 4.79%1,719.62 1,682.56 12,357.06 14,076.68 30334CAA5 FRESB - 2023-SB111 A5F 11/16/23 08/26/24 5.28%145.73 142.47 10,788.76 10,934.49 30336BAA5 FRESB - 2024-SB113 04/25/24 08/26/24 5.22%97.36 96.55 14,640.28 14,737.64 30337MAA0 FRESB - 2024-SB114 06/27/24 08/26/24 4.99%23,895.02 24,013.35 12,473.32 36,368.34 3132XGRH1 FRESB - WN2287 01/27/23 08/26/24 3.93%3,663.42 3,630.22 9,435.11 13,098.53 3137BL6J2 FHLM - FHMS K048 A1 07/22/22 08/26/24 3.43% 210,236.65 208,134.28 471.11 210,707.76 3137BM7B6 FHMS - K051 A1 06/30/22 08/26/24 3.30% 1,602,474.97 1,589,955.63 3,855.29 1,606,330.26 3137BP4J5 FHLM - FHMS K1R1 08/20/21 08/26/24 0.41%43,310.79 45,361.28 1,888.04 45,198.83 3137F32A1 FHLM - KHG1 A1 04/15/20 08/26/24 0.99%86,558.85 92,780.27 983.94 87,542.79 3137FBTA4 FHLM - FHMS K728 03/10/21 08/26/24 3.06% 1,365,094.80 1,472,436.07 3,485.54 1,368,580.34 3138L7D60 FHLM - AM6424 12/16/22 08/26/24 4.21%2,580.32 2,498.07 2,759.12 5,339.44 35564CAA5 FHLM - SLST 2018 01/11/24 08/26/24 5.37%14,862.42 14,263.86 2,812.57 17,674.99 Municipal bonds 005158XL9 Ada & Canyon County School District 06/17/21 08/15/24 5% 1,500,000.00 1,500,000.00 237,083.33 1,737,083.33 Supranational securities 459056HV2 International Bank for Recon & Devel 08/29/19 08/28/24 1.50% 2,000,000.00 2,000,000.00 149,916.67 2,149,916.67 U.S. Treasury 9128286Z8 US Treasury 03/01/21 07/01/24 3.70% 2,500,000.00$ 2,614,215.00$ 145,873.62$ 2,645,873.62$ 91282CCL3 US Treasury 10/21/22 07/15/24 0.38% 3,000,000.00 2,789,648.44 19,504.08 3,019,504.08 36,259,888.89$ 36,315,598.89$ 2,339,295.24$ 38,599,184.13$ Maturities Total Maturities cont. Nov. 21, 2024 Item #1 Page 37 of 86 City of Carlsbad investment portfolio Maturities, calls and purchases this quarter Aug. 31, 2024 CUSIP Issuer Settled Call Date Yield Par value Book value Interest Total Federal agency 3133EP3D5 Federal Farm Credit Banks 05/02/24 08/09/24 5.52% 2,500,000.00$ 2,497,000.00$ 29,516.67$ 2,529,516.67$ 3134H1SK0 Federal Home Loan Mortgage Corp 02/09/24 08/09/24 4.38% 2,500,000.00$ 2,483,575.00$ 54,657.50$ 2,554,657.50$ 3133ENT26 Federal Farm Credit Banks 10/12/22 08/13/24 5.30% 3,000,000.00$ 3,000,000.00$ 50,350.00$ 3,050,350.00$ Municipal bonds 695802NN4 Pajaro Valley Unified School District 12/07/23 08/01/24 4.29% 185,000.00$ 180,837.50$ 25,764.00$ 210,764.00$ Calls Total 8,185,000.00$ 8,161,412.50$ 160,288.17$ 8,345,288.17$ Calls Nov. 21, 2024 Item #1 Page 38 of 86 City of Carlsbad investment portfolio Maturities, calls and purchases this quarter Aug. 31, 2024 CUSIP Issuer Settled Maturity Yield First Coupon Par value Book value Certificate of deposit 06652CHX2 Bankwest Inc 07/31/24 07/31/29 4.90%08/31/24 248,000.00$ 248,000.00$ Corporate notes 64952WFG3 New York Life Global 07/16/24 06/06/29 4.72%12/06/24 3,000,000.00$ 3,036,390.00$ 17325FBK3 Citibank 08/20/24 08/06/29 4.38%02/06/25 2,000,000.00 2,040,000.00 Federal agency 3134H16A6 Federal Home Loan Mortgage Corp 07/30/24 07/30/29 5.11%01/30/25 2,000,000.00$ 1,990,300.00$ 3133ERLM1 Federal Farm Credit Bank 07/24/24 07/24/28 5.10%01/24/25 2,500,000.00 2,500,000.00 3134H15T6 Federal Home Loan Mortgage Corp 07/16/24 07/16/29 5.07%01/16/25 2,500,000.00 2,491,875.00 3134HAAN3 Federal Home Loan Mortgage Corp 07/30/24 07/30/29 4.64%01/30/25 3,000,000.00 2,965,500.00 3133ENUR9 Federal Farm Credit Bank 07/22/24 04/18/29 4.29%10/18/24 2,000,000.00 1,950,000.00 3134HAEB5 Federal Home Loan Mortgage Corp 08/14/24 08/14/29 4.25%02/14/25 2,500,000.00 2,472,000.00 3133ERPK1 Federal Farm Credit Banks 08/14/24 08/14/28 4.67%02/14/24 2,500,000.00 2,500,000.00 3133ERNT4 Federal Farm Credit Banks 08/14/24 08/12/27 4.97%02/12/25 2,500,000.00 2,498,750.00 3134HAGR8 Federal Home Loan Mortgage Corp 08/28/24 08/28/28 4.16%02/28/25 2,500,000.00 2,485,000.00 Mortgage passthrough securities 3132XFQN1 FHLMC WN1360 07/02/24 04/01/29 4.57%08/25/24 2,000,000.00$ 1,950,000.00$ 3132XG3G9 FHLMC WN3598 07/23/24 06/01/29 4.59%08/25/24 2,000,000.00 1,985,000.00 3140LGDL3 FNMA BS5506 08/13/24 06/01/29 4.13%09/25/24 2,000,000.00 1,912,500.00 3140HURA6 FNMA BL3180 08/27/24 07/01/29 4.01%09/25/24 2,500,000.00 2,381,250.00 Municipal bonds 13063DGC6 State of California 07/23/24 04/01/28 4.47%10/01/24 3,000,000.00$ 2,901,480.00$ U.S. Treasury 91282CHQ7 US Treasury 07/18/24 07/31/28 4.12%07/31/24 2,000,000.00$ 2,000,454.00$ 91282CLB5 US Treasury 08/27/24 07/31/26 3.87%01/31/25 2,500,000.00$ 2,523,046.88$ Purchases total 43,248,000.00$ 42,831,545.88$ Purchases Nov. 21, 2024 Item #1 Page 39 of 86 City of Carlsbad investment portfolio Fund equity in pooled investments Exhibit 6 Cash balance by fund: General 137,388,890.99 Special revenue 36,643,157.28 Capital projects: Infrastructure replacement 118,682,342.84 Special districts 110,368,493.06 General capital construction 63,697,404.88 Public facilities fees 34,166,425.17 Traffic impact fees 17,848,191.83 Gas tax 19,533,374.52 Park development 15,768,915.71 Technology investment 19,394,030.13 TransNet taxes 4,559,096.08 Drainage fees 5,200,126.69 Capital project subtotal 409,218,400.91 Enterprise: Carlsbad Municipal Water District 142,369,992.43 Sewer fund 51,798,352.61 Storm water 4,837,021.87 Solid waste 4,095,045.03 Golf course 7,416,991.85 Enterprise subtotal 210,517,403.79 Internal service 82,501,817.51 Fiduciary 2,617,598.72 Total general ledger balance **878,887,269.00 Reconciling adjustments (1)1,948,868.00 880,836,137.24 **Figures based on best estimate at the time report run on 09/13/2024. Total treasurer's investment portfolio at amortized cost (1) The reconciling adjustments consist of differences between the general ledger which is prepared on an accrual basis and the treasurer's report which is prepared on a cash basis. Aug. 31, 2024 Nov. 21, 2024 Item #1 Page 40 of 86 City of Carlsbad investment portfolio Security ratings and outlooks Exhibit 7 Issuer Moody's S&P Fitch Outlook Corporate notes Apple Inc AAA AA+Stable/Stable/ Bank of America A1 A- AA-Positive/ /Stable Bank of Montreal A2 N/A AA-Stable Bank of New York Mellon Corp A1 A AA-Neg/Stable/Stable BLC Community Bank A2 N/A AA-Stable Citibank AA3 A+ A+Stable CME Group Inc AA3 AA- AA-Stable/Stable/Stable Colgate-Palmolive AA3 A+Stable/Negative Flordia Power and Light Co AA2 A+ AA-Stable/Stable/Stable Johnson & Johnson AAA AAA Stable/Neg JP Morgan Chase Bank A1 A- AA-Stable/Stable/Stable MassMutual Global Funding AA3 AA+ AA+ /Stable/ Merck & Co*A1 A+Positive/Stable/ Met Life Global AA3 AA- AA- /Stable/ Microsoft AAA AAA Stable/Stable/ New York Life AAA AA+ AAA Stable Nike Inc.A1 AA-Stable/Stable/ Novartis Capital Corp AA3 AA- AA-Positive/Stable Pacific Life Global AA3 AA- AA-Stable Procter & Gamble AA3 AA-Stable/Stable/ Roche Holdings Inc AA2 AA AA Stable Royal Bank of Canada A1 A AA-Stable/Stable/Stable Seattle Children's Hospital AA2 N/A AA Stable Visa Inc.AA3 AA-Stable/Stable/ Wal-Mart AA2 AA AA Stable/Stable/Stable Mortgage passthrough securities FAMCA AAA AA+Stable FHLMC AAA AA+Stable FNMA AAA AA+Stable FRESB AAA AA+Stable Municipal Bonds Alief Independent School Dist AAA AAA Amarillo Independent SD AAA AAA Stable Bay Area Water & Utl AA3 AA- California State University AA2 AA- City of Riverside N/A AA AA-Stable City of Anaheim N/A AA+ AA+ Contra Costa Cmty College AA1 AA+ Ratings of corporate notes must be AA or better by one and A or better by another of the three: Moody's, S&P, or Fitch. Ratings of mortgage passthrough securities must be AA or better by one of the three: Moody's, S&P, or Fitch. Aug. 31, 2024 All investments were in compliance with the city's investment policy at the time of purchase. Nov. 21, 2024 Item #1 Page 41 of 86 City of Carlsbad investment portfolio Security ratings and outlooks Issuer Moody's S&P Fitch Outlook Aug. 31, 2024 All investments were in compliance with the city's investment policy at the time of purchase. County of Multnomah OR AAA AAA Stable Fremont CA Unified AA2 AA-Stable Honolulu Wastewater AA3 N/A AA-Stable Los Angeles Cmty Clg Dist AAA AA+ Los Angeles Unified SD AA2 AA-Stable Los Angeles Water & Power AA2 AA-Stable Marion County SD AA1 N/A AA+Stable Mason/Kitsap Cty SD AAA N/A AA+Stable Miami Beach FL AA2 AA+ Minnesota State AAA AAA AAA Stable Oregon State Dept Admin Serv AA2 AA Oregon State Dept of Transp AA1 AAA AA+Stable Pajaro Valley Unified SD AA3 A+ Portland Cmty College AA1 N/A AA+Stable San Bernardino CCD AA1 AA Stable San Diego Cmty College AA1 AAA Stable San Diego Public Finance AA2 N/A AA Stable San Francisco City Pub Utl¹N/A N/A San Jose Evergreen CC AA1 AA+Stable San Jose Redevelopment N/A AA AA+Stable San Ramon Valley USD AA1 AA+ Santa Barbara CA USD AA1 AA Stable Santa Monica Cmty College AA2 AA+ Solano County Cmty College AA2 AA Stable Southern CA Public Power N/A AA- AA-Stable State of California AA2 AA- AA Stable/positive/stable State of Connecticut AA3 AA- State of Hawaii AA2 AA+ AA Stable Texas Tech University AA1 AA+Stable University of California AA2 AA AA Stable Corporate notes Moody's S&P Fitch Maturity date Purchased Book value Merck & Co A1 A+ N/R 02/24/26 04/12/21 1,495,665$ 1,495,665$ ¹San Francisco City Public Utility refunded and is collateralized by State and Local Government Series Securities (SLGS). The security is backed by the US Treasury and is therefore not rated. *Investments with subsequent changes in credit rating The city's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. The current exception is paying interest at the required times. The principal of the investment is considered secure. It is the intent of the City Treasurer to hold the asset in the portfolio until maturity unless events indicate they shoud be sold. Ratings of municipal bonds must be AA or better by one and A or better by another of the three: Moody's, S&P, or Fitch. Nov. 21, 2024 Item #1 Page 42 of 86 City of Carlsbad investment portfolio Portfolio allocation at amortized cost by issuer Exhibit 8 Issuer Amortized cost Portfolio allocation Corporate notes Apple Inc.1,511,333.19 0.17% Bank of America 10,996,111.66 1.25% Bank of Montreal 2,000,000.00 0.23% Bank of New York Mellon 3,056,217.72 0.35% BLC Community Bank (Bank of Montreal)5,950,000.00 0.68% Citibank 2,039,753.64 0.23% CME Group 2,802,542.67 0.32% Colgate-Palmolive 1,967,733.65 0.22% Florida Power & Light 3,704,456.59 0.42% Johnson & Johnson 17,198,773.96 1.95% JP Morgan Chase Bank 14,800,000.00 1.68% Massmutual Global 3,762,994.88 0.43% Merck & Co 1,495,664.81 0.17% Met Life Global 5,117,689.91 0.58% Microsoft 4,113,350.74 0.47% New York Life 6,422,173.73 0.73% Nike Inc.2,897,203.53 0.33% Novartis Capital Corp 3,316,514.03 0.38% Pacific Life Global 1,005,672.60 0.11% Procter & Gamble 10,859,180.54 1.23% Roche Holdings Inc 4,834,516.67 0.55% Royal Bank of Canada 6,997,671.69 0.79% Seattle Children's Hospital 896,582.63 0.10% Visa Inc.1,283,312.39 0.15% Wal-Mart 2,003,985.39 0.23% Mortgage passthrough securities FAMCA 3,490,746.56 0.40% FHLMC 26,322,345.09 2.99% FNMA 19,987,395.61 2.27% FRESB 30,586,740.80 3.47% Federal agencies Federal Agricultural Mortgage Corp.23,148,195.29 2.63% Federal Farm Credit Bank 76,755,766.30 8.71% Federal Home Loan Bank 140,019,942.11 15.90% Federal Home Loan Mortgage Corp.70,274,201.48 7.98% Federal National Mortgage Assoc.35,898,706.24 4.08% Tennessee Valley Authority 1,000,995.28 0.11% Aug. 31, 2024 Nov. 21, 2024 Item #1 Page 43 of 86 City of Carlsbad investment portfolio Portfolio allocation at amortized cost by issuer Issuer Amortized cost Portfolio allocation Aug. 31, 2024 Municipal Bonds Alief Independent SD 1,971,950.01 0.22% Amarillo Independent SD 1,795,537.80 0.20% Bay Area Water 1,202,316.25 0.14% California State University 2,243,995.89 0.25% City of Anaheim 1,527,405.69 0.17% City of Riverside 1,256,247.49 0.14% Contra Costa Cmty College 932,613.83 0.11% County of Multnomah OR 2,001,090.50 0.23% Fremont CA Unified 1,858,946.78 0.21% Honolulu Wastewater 1,424,284.62 0.16% Los Angeles Cmty College 2,054,877.89 0.23% Los Angeles Unified SD 3,660,278.50 0.42% Los Angeles Water & Power 1,554,719.88 0.18% Marion County SD 1,882,071.39 0.21% Mason/Kitsap Cty SD 640,000.00 0.07% Miami Beach FL 1,396,864.00 0.16% Minnesota State 1,215,000.00 0.14% Oregon State Dept of Admin Services 957,430.99 0.11% Oregon State Dept of Transp 3,253,982.31 0.37% Pajaro Valley USD 995,764.11 0.11% Portland CC 1,101,117.66 0.13% San Bernardino CCD 1,387,315.11 0.16% San Diego Cmty College 5,159,080.01 0.59% San Diego Public Finance 1,887,830.77 0.21% San Francisco City Pub Utl 1,000,202.42 0.11% San Jose Evergreen CC 769,218.52 0.09% San Jose Redevelpment 4,036,287.69 0.46% San Ramon Valley SD 890,397.69 0.10% Santa Barbara CA USD 950,774.85 0.11% Santa Monica Cmty College 504,645.28 0.06% Solano County Cmty College 1,805,923.76 0.21% Southern CA Public Power 2,456,028.36 0.28% State of California 18,300,223.99 2.08% State of Connecticut 2,854,226.69 0.32% State of Hawaii 8,012,283.95 0.91% Texas Tech University 5,748,997.98 0.65% University of California 9,444,448.46 1.07% Nov. 21, 2024 Item #1 Page 44 of 86 City of Carlsbad investment portfolio Portfolio allocation at amortized cost by issuer Issuer Amortized cost Portfolio allocation Aug. 31, 2024 Other Supranational 19,889,065.21 2.26% US Treasury 53,908,219.69 6.12% Certificate of deposits 22,229,208.37 2.52% Cash 136,156,791.47 15.46% Total portfolio amortized cost 880,836,137.24 100.00% Policy: Corporate notes, non-agency mortgage passthrough securities, municpal bonds, and supranational securities may have no more than 5% invested with a single issuer. Certificates of deposit may have no more than 10% invested with any single issuer. Federal agencies, U.S. Treasury and agency-backed mortgage passthrough securities do not have issuer limitations. Nov. 21, 2024 Item #1 Page 45 of 86 City of Carlsbad investment portfolio Investment detail Exhibit 9 CUSIP Settlement Maturity Issuer Par Yield Interest Return 3133EKQA7 08/30/19 09/10/24 Federal Farm Credit Banks 2,500,000.00 1.480% 261,444.44 2,761,444.44 880591ER9 02/19/21 09/15/24 Tennessee Valley Authority 1,000,000.00 0.300% 102,701.39 1,102,701.39 3134GWVM5 10/22/20 09/30/24 Federal Home Loan Mortgage Corp 3,000,000.00 0.350% 41,358.33 3,041,358.33 3134GWVM5 11/06/20 09/30/24 Federal Home Loan Mortgage Corp 1,170,000.00 0.350% 15,970.50 1,185,970.50 3130ALRK2 03/30/21 09/30/24 Federal Home Loan Banks 1,500,000.00 0.520% 27,300.00 1,527,300.00 31422XMV1 10/04/21 10/04/24 Federal Agricultural Mortgage Corp 2,000,000.00 0.500% 30,000.00 2,030,000.00 3133EK3B0 11/25/20 10/16/24 Federal Farm Credit Banks 1,400,000.00 0.280% 81,725.00 1,481,725.00 31422BPG9 11/15/19 11/01/24 Federal Agricultural Mortgage Corp 2,000,000.00 1.793% 177,607.78 2,177,607.78 3133EC2D5 07/10/20 11/13/24 Federal Farm Credit Banks 1,621,000.00 0.390% 159,055.22 1,780,055.22 3135G06E8 11/18/20 11/18/24 Federal National Mortgage Assoc 2,000,000.00 0.420% 33,600.00 2,033,600.00 3130APVZ5 12/02/21 12/02/24 Federal Home Loan Banks 1,900,000.00 1.050% 59,850.00 1,959,850.00 3130AQ5L3 12/16/21 12/16/24 Federal Home Loan Banks 2,000,000.00 0.500% 70,000.00 2,070,000.00 3130AKLQ7 12/30/20 12/30/24 Federal Home Loan Banks 4,000,000.00 0.310% 49,600.00 4,049,600.00 3134GXYX6 07/07/22 12/30/24 Federal Home Loan Mortgage Corp 2,500,000.00 3.348% 207,746.53 2,707,746.53 3130AJSF7 05/27/21 01/08/25 Federal Home Loan Banks 2,000,000.00 0.648% 46,980.56 2,046,980.56 3130ASLP2 07/21/22 01/21/25 Federal Home Loan Banks 2,000,000.00 3.500% 175,000.00 2,175,000.00 3130AN7L8 07/28/21 01/28/25 Federal Home Loan Banks 1,750,000.00 0.520% 31,850.00 1,781,850.00 3133EMPV8 02/03/21 02/03/25 Federal Farm Credit Banks 2,000,000.00 0.320% 25,600.00 2,025,600.00 3134GWMN3 08/27/20 02/27/25 Federal Home Loan Mortgage Corp 2,500,000.00 0.520% 58,500.00 2,558,500.00 3130A4CH3 04/09/20 03/14/25 Federal Home Loan Banks 3,000,000.00 0.778% 351,302.08 3,351,302.08 3130A4CH3 02/18/21 03/14/25 Federal Home Loan Banks 1,500,000.00 0.389% 145,072.92 1,645,072.92 3134GWP26 06/07/21 03/28/25 Federal Home Loan Mortgage Corp 1,000,000.00 0.540% 19,041.67 1,019,041.67 3130AMRJ3 06/28/21 03/28/25 Federal Home Loan Banks 3,120,000.00 0.500% 70,200.00 3,190,200.00 3133EMWH1 04/21/21 04/21/25 Federal Farm Credit Banks 1,500,000.00 0.710% 42,600.00 1,542,600.00 3130APA39 09/30/22 04/21/25 Federal Home Loan Banks 1,055,000.00 4.287% 17,813.67 1,072,813.67 3135GAA43 12/23/20 04/23/25 Federal National Mortgage Assoc 3,000,000.00 0.500% 65,000.00 3,065,000.00 3134GWYW0 10/30/20 04/30/25 Federal Home Loan Mortgage Corp 2,000,000.00 0.500% 45,111.12 2,045,111.12 3133ELC28 06/03/20 05/27/25 Federal Farm Credit Banks 3,500,000.00 0.734% 127,324.17 3,627,324.17 3134GVB31 06/03/20 05/28/25 Federal Home Loan Mortgage Corp 2,000,000.00 0.750% 74,791.66 2,074,791.66 3135GA5S6 12/16/20 06/16/25 Federal National Mortgage Assoc 2,000,000.00 0.450% 40,500.00 2,040,500.00 3135G04Z3 01/11/21 06/17/25 Federal National Mortgage Assoc 3,000,000.00 0.389% 66,500.00 3,066,500.00 3135G04Z3 05/20/21 06/17/25 Federal National Mortgage Assoc 2,000,000.00 0.600% 40,750.00 2,040,750.00 3136G4XZ1 07/01/20 06/30/25 Federal National Mortgage Assoc 2,500,000.00 0.740% 92,448.61 2,592,448.61 3133EMMP4 01/15/21 07/14/25 Federal Farm Credit Banks 2,225,000.00 0.457% 39,024.65 2,264,024.65 3137EAEU9 09/14/20 07/21/25 Federal Home Loan Mortgage Corp 1,500,000.00 0.380% 27,296.87 1,527,296.87 3133ELZ80 07/29/20 07/29/25 Federal Farm Credit Banks 3,000,000.00 0.580% 87,000.00 3,087,000.00 3133EMFC1 10/29/20 07/29/25 Federal Farm Credit Banks 3,000,000.00 0.530% 75,525.00 3,075,525.00 3134GWXM3 10/01/20 07/30/25 Federal Home Loan Mortgage Corp 2,000,000.00 0.510% 49,271.67 2,049,271.67 3133EL3P7 08/12/20 08/12/25 Federal Farm Credit Banks 3,500,000.00 0.530% 92,750.00 3,592,750.00 3136G4C43 08/14/20 08/14/25 Federal National Mortgage Assoc 2,000,000.00 0.650% 65,000.00 2,065,000.00 3136G4H71 11/06/20 08/18/25 Federal National Mortgage Assoc 2,000,000.00 0.500% 47,833.33 2,047,833.33 3136G4K77 08/21/20 08/21/25 Federal National Mortgage Assoc 2,000,000.00 0.450% 45,000.00 2,045,000.00 3136G4X24 08/31/20 08/29/25 Federal National Mortgage Assoc 3,000,000.00 0.600% 89,900.00 3,089,900.00 3137EAEX3 10/22/20 09/23/25 Federal Home Loan Mortgage Corp 4,000,000.00 0.430% 73,791.67 4,073,791.67 3137EAEX3 12/28/20 09/23/25 Federal Home Loan Mortgage Corp 3,000,000.00 0.400% 53,281.25 3,053,281.25 3133EMCP5 10/14/20 10/14/25 Federal Farm Credit Banks 1,500,000.00 0.520% 39,000.00 1,539,000.00 3132X0CK5 11/01/22 10/14/25 Federal Agricultural Mortgage Corp 1,650,000.00 2.153% 184,415.59 1,834,415.59 3134GWXX9 10/15/20 10/15/25 Federal Home Loan Mortgage Corp 3,000,000.00 0.550% 82,500.00 3,082,500.00 3135G06A6 12/11/20 10/20/25 Federal National Mortgage Assoc 2,410,000.00 0.590% 67,909.78 2,477,909.78 3133EMDZ2 12/09/20 10/21/25 Federal Farm Credit Banks 3,000,000.00 0.560% 75,920.00 3,075,920.00 3133EMFR8 11/03/20 11/03/25 Federal Farm Credit Banks 4,500,000.00 0.540% 121,500.00 4,621,500.00 3135G06G3 12/29/20 11/07/25 Federal National Mortgage Assoc 3,000,000.00 0.410% 72,833.34 3,072,833.34 3130ALFF6 03/10/21 12/10/25 Federal Home Loan Banks 1,750,000.00 0.650% 54,031.25 1,804,031.25 31422XAT9 03/02/21 12/15/25 Federal Agricultural Mortgage Corp 3,000,000.00 0.520% 74,663.33 3,074,663.33 3134GXFV1 12/17/20 12/17/25 Federal Home Loan Mortgage Corp 5,000,000.00 0.625% 156,250.00 5,156,250.00 3134GXHD9 03/24/21 12/23/25 Federal Home Loan Mortgage Corp 1,500,000.00 0.700% 49,845.83 1,549,845.83 3135G06Q1 12/30/20 12/30/25 Federal National Mortgage Assoc 2,500,000.00 0.474% 80,000.00 2,580,000.00 Aug. 31, 2024 Federal investments Nov. 21, 2024 Item #1 Page 46 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return Aug. 31, 2024 3130AKMZ6 01/14/21 01/14/26 Federal Home Loan Banks 4,000,000.00 0.510% 102,000.00 4,102,000.00 3130AKMZ6 01/14/21 01/14/26 Federal Home Loan Banks 1,750,000.00 0.540% 44,625.00 1,794,625.00 31422B6K1 01/25/21 01/15/26 Federal Agricultural Mortgage Corp 1,500,000.00 0.480% 35,800.00 1,535,800.00 3130AKN69 01/28/21 01/28/26 Federal Home Loan Banks 3,000,000.00 0.500% 75,000.00 3,075,000.00 3130AKRF5 02/09/21 02/09/26 Federal Home Loan Banks 2,050,000.00 0.350% 14,575.00 2,064,575.00 3130AKVR4 02/12/21 02/12/26 Federal Home Loan Banks 2,000,000.00 0.550% 55,000.00 2,055,000.00 3130AKVV5 02/18/21 02/18/26 Federal Home Loan Banks 4,000,000.00 0.500% 100,000.00 4,100,000.00 3133EMSH6 03/03/21 03/03/26 Federal Farm Credit Banks 674,000.00 0.790% 26,623.00 700,623.00 3133EMSU7 03/09/21 03/09/26 Federal Farm Credit Banks 3,500,000.00 0.800% 140,000.00 3,640,000.00 3130ALH56 03/18/21 03/18/26 Federal Home Loan Banks 3,000,000.00 0.750% 112,500.00 3,112,500.00 3130ALUQ5 03/30/21 03/30/26 Federal Home Loan Banks 1,500,000.00 0.300% 22,500.00 1,522,500.00 31422XCX8 04/20/21 04/20/26 Federal Agricultural Mortgage Corp 2,000,000.00 1.000% 100,000.00 2,100,000.00 3130ALVB7 04/21/21 04/21/26 Federal Home Loan Banks 2,000,000.00 0.915% 90,000.00 2,090,000.00 3130AM4L3 04/29/21 04/29/26 Federal Home Loan Banks 4,000,000.00 0.500% 100,000.00 4,100,000.00 31422XFP2 05/04/21 05/04/26 Federal Agricultural Mortgage Corp 2,500,000.00 0.950% 118,750.00 2,618,750.00 3130AMCL4 09/30/22 05/19/26 Federal Home Loan Banks 1,100,000.00 4.300% 40,797.17 1,140,797.17 3130AMHN5 05/26/21 05/26/26 Federal Home Loan Banks 2,500,000.00 0.500% 112,500.00 2,612,500.00 31422XGL0 05/27/21 05/27/26 Federal Agricultural Mortgage Corp 2,000,000.00 0.920% 92,000.00 2,092,000.00 3130AMQK1 06/16/21 06/16/26 Federal Home Loan Banks 2,000,000.00 0.500% 94,000.00 2,094,000.00 3130AMQK1 06/16/21 06/16/26 Federal Home Loan Banks 2,500,000.00 0.500% 117,500.00 2,617,500.00 3133EML67 06/22/21 06/22/26 Federal Farm Credit Banks 2,000,000.00 0.870% 80,000.00 2,080,000.00 3130AMTW2 06/30/21 06/30/26 Federal Home Loan Banks 4,500,000.00 0.500% 186,750.00 4,686,750.00 3130AMWN8 06/30/21 06/30/26 Federal Home Loan Banks 2,000,000.00 0.550% 88,000.00 2,088,000.00 3130ANCH1 07/27/21 07/27/26 Federal Home Loan Banks 2,500,000.00 1.000% 125,000.00 2,625,000.00 3130ANL57 08/25/21 08/25/26 Federal Home Loan Banks 3,500,000.00 0.906% 153,125.00 3,653,125.00 31422XLY6 09/01/21 09/01/26 Federal Agricultural Mortgage Corp 4,000,000.00 0.900% 180,000.00 4,180,000.00 3133EM3T7 09/07/21 09/01/26 Federal Farm Credit Banks 3,000,000.00 0.885% 130,065.00 3,130,065.00 31422XNB4 09/30/21 09/30/26 Federal Agricultural Mortgage Corp 2,500,000.00 0.860% 107,798.60 2,607,798.60 3133ENAF7 12/27/21 10/07/26 Federal Farm Credit Banks 2,500,000.00 1.268% 119,444.44 2,619,444.44 3134GW6C5 02/15/22 10/28/26 Federal Home Loan Mortgage Corp 4,500,000.00 1.958% 169,300.00 4,669,300.00 3130APJZ9 02/25/22 10/28/26 Federal Home Loan Banks 3,500,000.00 1.979% 210,000.00 3,710,000.00 3130B1DC8 05/16/24 11/09/26 Federal Home Loan Banks 1,500,000.00 5.249% 196,875.00 1,696,875.00 3133ENFP0 12/09/21 11/30/26 Federal Farm Credit Banks 2,950,000.00 1.408% 167,958.25 3,117,958.25 3130AQF65 01/14/22 12/21/26 Federal Home Loan Banks 1,550,000.00 1.483% 95,637.15 1,645,637.15 3130AQMX8 02/07/22 01/26/27 Federal Home Loan Banks 1,250,000.00 1.331% 112,070.31 1,362,070.31 3130AQJR5 12/14/23 01/27/27 Federal Home Loan Banks 2,000,000.00 4.631% 105,000.00 2,105,000.00 3130AQLD3 03/29/22 01/28/27 Federal Home Loan Banks 2,500,000.00 2.776% 211,336.81 2,711,336.81 3130ARAB7 06/24/22 03/25/27 Federal Home Loan Banks 2,000,000.00 3.420% 260,791.67 2,260,791.67 3134GXNM2 02/20/24 03/25/27 Federal Home Loan Mortgage Corp 2,000,000.00 4.419% 186,700.00 2,186,700.00 3130ARL58 06/10/22 04/26/27 Federal Home Loan Banks 4,000,000.00 3.198% 589,235.56 4,589,235.56 3133EPJP1 05/12/23 05/12/27 Federal Farm Credit Banks 2,000,000.00 3.620% 290,000.00 2,290,000.00 3130ASCT4 06/28/22 06/28/27 Federal Home Loan Banks 2,500,000.00 3.250% 406,250.00 2,906,250.00 3130ASF46 06/30/22 06/30/27 Federal Home Loan Banks 2,500,000.00 3.500% 437,500.00 2,937,500.00 3130ASLA5 09/13/23 07/26/27 Federal Home Loan Banks 1,915,000.00 4.850% 344,700.00 2,259,700.00 3133ERNT4 08/14/24 08/12/27 Federal Farm Credit Banks 2,500,000.00 4.968% 371,250.00 2,871,250.00 3133ENL99 09/30/22 09/15/27 Federal Farm Credit Banks 2,500,000.00 3.983% 418,359.37 2,918,359.37 3133EPXB6 09/28/23 09/28/27 Federal Farm Credit Banks 2,000,000.00 4.625% 370,000.00 2,370,000.00 3134GX3H5 05/15/24 09/29/27 Federal Home Loan Mortgage Corp 2,500,000.00 5.048% 415,625.00 2,915,625.00 3133EPJ30 12/06/23 12/06/27 Federal Farm Credit Banks 2,000,000.00 5.380% 430,400.00 2,430,400.00 3133EN3S7 12/07/22 12/07/27 Federal Farm Credit Banks 3,000,000.00 3.780% 562,500.00 3,562,500.00 3134H1GH0 10/30/23 12/30/27 Federal Home Loan Mortgage Corp 1,500,000.00 5.201% 312,500.00 1,812,500.00 3130AYPJ9 01/29/24 01/26/28 Federal Home Loan Banks 2,000,000.00 4.500% 359,500.00 2,359,500.00 3130AUQA5 02/02/23 02/02/28 Federal Home Loan Banks 2,500,000.00 4.050% 506,250.00 3,006,250.00 3130AYVC7 02/13/24 02/09/28 Federal Farm Credit Banks 2,000,000.00 4.625% 370,000.00 2,370,000.00 3130AUW59 03/08/23 02/17/28 Federal Home Loan Banks 1,500,000.00 4.240% 318,000.00 1,818,000.00 3133EP3Z6 02/28/24 02/28/28 Federal Farm Credit Banks 2,000,000.00 4.375% 350,000.00 2,350,000.00 3130B0EE5 04/23/24 03/06/28 Federal Home Loan Banks 2,000,000.00 5.000% 384,000.00 2,384,000.00 313382GT4 11/15/23 03/10/28 Federal Home Loan Banks 2,500,000.00 4.720% 337,500.00 2,837,500.00 Nov. 21, 2024 Item #1 Page 47 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return Aug. 31, 2024 3133EPDC6 03/13/23 03/13/28 Federal Farm Credit Banks 1,000,000.00 5.350% 267,500.00 1,267,500.00 3133EPFU4 04/12/23 04/12/28 Federal Farm Credit Banks 2,500,000.00 3.530% 437,500.00 2,937,500.00 3130AVK50 04/24/23 04/24/28 Federal Home Loan Banks 1,500,000.00 5.000% 375,000.00 1,875,000.00 3130ALZW7 12/14/23 04/28/28 Federal Home Loan Banks 1,000,000.00 4.362% 76,500.00 1,076,500.00 3130AVZQ8 04/12/23 05/17/28 Federal Home Loan Banks 1,880,000.00 5.150% 460,600.00 2,340,600.00 3133EPMA0 06/09/23 06/09/28 Federal Farm Credit Banks 1,500,000.00 4.690% 351,750.00 1,851,750.00 3130B0NE5 05/01/24 07/06/28 Federal Home Loan Banks 2,400,000.00 4.969% 478,773.33 2,878,773.33 3134H1GL1 10/18/23 07/18/28 Federal Home Loan Mortgage Corp 2,500,000.00 5.002% 593,750.00 3,093,750.00 3134H1GL1 11/01/23 07/18/28 Federal Home Loan Mortgage Corp 2,000,000.00 5.210% 475,000.00 2,475,000.00 3133ERLM1 07/24/24 07/24/28 Federal Farm Credit Banks 2,500,000.00 5.100% 510,000.00 3,010,000.00 3134GYXX5 09/12/23 07/26/28 Federal Home Loan Mortgage Corp 1,750,000.00 5.650% 494,375.00 2,244,375.00 3133EPTA3 09/07/23 08/14/28 Federal Farm Credit Banks 1,000,000.00 5.108% 255,500.00 1,255,500.00 3133ERPK1 08/14/24 08/14/28 Federal Farm Credit Banks 2,500,000.00 4.670% 467,000.00 2,967,000.00 3134HAGR8 08/28/24 08/28/28 Federal Home Loan Mortgage Corp 2,500,000.00 4.164% 400,000.00 2,900,000.00 3134H1BP7 10/13/23 09/11/28 Federal Home Loan Mortgage Corp 1,000,000.00 5.148% 252,500.00 1,252,500.00 3134H1BP7 09/11/23 09/11/28 Federal Home Loan Mortgage Corp 3,000,000.00 5.245% 757,500.00 3,757,500.00 3134GWS23 05/17/24 09/14/28 Federal Home Loan Mortgage Corp 2,000,000.00 4.610% 90,000.00 2,090,000.00 3134H1CM3 11/17/23 09/25/28 Federal Home Loan Mortgage Corp 1,500,000.00 4.843% 327,750.00 1,827,750.00 3130B0PR4 04/02/24 10/02/28 Federal Home Loan Banks 2,000,000.00 5.000% 450,000.00 2,450,000.00 3130AP6J9 12/06/23 10/05/28 Federal Home Loan Banks 2,000,000.00 4.300% 135,000.00 2,135,000.00 3130APSR7 01/08/24 11/16/28 Federal Farm Credit Banks 1,500,000.00 4.107% 127,500.00 1,627,500.00 3130APTC9 01/19/24 11/22/28 Federal Home Loan Banks 1,000,000.00 4.193% 90,000.00 1,090,000.00 3130B0M89 03/28/24 12/28/28 Federal Home Loan Banks 3,000,000.00 4.402% 570,000.00 3,570,000.00 3130AYE51 01/08/24 01/02/29 Federal Home Loan Banks 2,500,000.00 4.947% 623,958.34 3,123,958.34 3130AYCV6 01/11/24 01/03/29 Federal Home Loan Banks 2,700,000.00 5.000% 675,000.00 3,375,000.00 3135GAM81 02/01/24 01/17/29 Federal National Mortgage Assoc 2,500,000.00 5.000% 624,305.56 3,124,305.56 3130AYJR8 02/20/24 01/17/29 Federal Home Loan Banks 2,000,000.00 4.714% 460,000.00 2,460,000.00 3130AYRG3 02/05/24 02/05/29 Federal Home Loan Banks 2,500,000.00 4.400% 550,000.00 3,050,000.00 3130AYWQ5 02/20/24 02/07/29 Federal Home Loan Banks 2,500,000.00 4.572% 568,118.05 3,068,118.05 3133ENUR9 07/22/24 04/18/29 Federal Farm Credit Banks 2,000,000.00 4.287% 370,000.00 2,370,000.00 3130B14U8 04/24/24 04/27/29 Federal Home Loan Banks 1,500,000.00 5.250% 393,093.75 1,893,093.75 3135GASP7 05/28/24 05/22/29 Federal National Mortgage Assoc 2,000,000.00 4.819% 462,500.00 2,462,500.00 3134H15T6 07/16/24 07/16/29 Federal Home Loan Mortgage Corp 2,500,000.00 4.074% 625,000.00 3,125,000.00 3134HAAN3 07/30/24 07/30/29 Federal Home Loan Mortgage Corp 3,000,000.00 4.635% 656,250.00 3,656,250.00 3134H16A6 07/30/24 07/30/29 Federal Home Loan Mortgage Corp 2,000,000.00 5.111% 500,000.00 2,500,000.00 3134HAEB5 08/14/24 08/14/29 Federal Home Loan Mortgage Corp 2,500,000.00 4.251%500,000.00 3,000,000.00 Total federal investments 349,020,000.00$ 2.124% 32,164,205.57$ 381,184,205.57$ CUSIP Settlement Maturity Issuer Par Yield Interest Return 45818WCW4 11/03/21 10/15/24 Inter-American Development Bank 1,440,000.00 0.828% 14,443.20 1,454,443.20 45950KCR9 02/04/21 10/16/24 International Finance Corporation 2,000,000.00 0.290% 101,750.00 2,101,750.00 45905U6L3 01/14/21 11/20/25 International Bank for Recon & Devel 2,000,000.00 0.510% 303,125.00 2,303,125.00 45950VPJ9 01/25/21 01/15/26 International Finance Corporation 2,000,000.00 0.500% 57,677.78 2,057,677.78 4581X0DV7 04/23/21 04/20/26 Inter-American Development Bank 3,000,000.00 0.870% 131,031.25 3,131,031.25 45950VPY6 05/28/21 05/15/26 International Finance Corporation 2,000,000.00 0.500% 49,638.89 2,049,638.89 45906M4E8 07/31/23 06/26/28 International Bank for Recon & Devel 1,250,000.00 4.684% 281,250.00 1,531,250.00 45906M4E8 09/07/23 06/26/28 International Bank for Recon & Devel 1,700,000.00 4.500% 382,500.00 2,082,500.00 459058KW2 09/28/23 08/01/28 International Bank for Recon & Devel 2,000,000.00 4.720% 448,368.06 2,448,368.06 45818WFE1 03/01/24 03/01/29 Inter-American Development Bank 2,500,000.00 4.400% 550,000.00 3,050,000.00 Total supranationals 19,890,000.00$ 2.049%2,319,784.18$ 22,209,784.18$ Supranationals Nov. 21, 2024 Item #1 Page 48 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return Aug. 31, 2024 912828YH7 01/14/21 09/30/24 U.S. Treasury 2,000,000.00 1.500% 111,263.74 2,111,263.74 9128282Y5 10/21/22 09/30/24 U.S. Treasury 2,000,000.00 4.511% 82,548.08 2,082,548.08 912828YV6 06/07/21 11/30/24 U.S. Treasury 2,000,000.00 0.436% 104,426.23 2,104,426.23 91282CDS7 10/21/22 01/15/25 U.S. Treasury 4,000,000.00 4.548% 100,516.30 4,100,516.30 912828ZC7 07/15/21 02/28/25 U.S. Treasury 2,000,000.00 0.563% 81,623.64 2,081,623.64 912828ZL7 02/19/21 04/30/25 U.S. Treasury 2,000,000.00 0.400% 31,450.28 2,031,450.28 912828ZT0 02/19/21 05/31/25 U.S. Treasury 2,000,000.00 0.400% 21,387.36 2,021,387.36 91282CEU1 10/21/22 06/15/25 U.S. Treasury 3,000,000.00 4.530% 228,586.07 3,228,586.07 91282CAM3 01/11/21 09/30/25 U.S. Treasury 2,500,000.00 0.250% 29,481.46 2,529,481.46 91282CAZ4 01/11/21 11/30/25 U.S. Treasury 2,500,000.00 0.375% 45,793.27 2,545,793.27 91282CGA3 10/17/23 12/15/25 U.S. Treasury 2,000,000.00 4.930% 199,992.72 2,199,992.72 91282CBQ3 03/01/21 02/28/26 U.S. Treasury 3,000,000.00 0.740% 74,959.24 3,074,959.24 91282CBQ3 03/02/21 02/28/26 U.S. Treasury 2,000,000.00 0.750% 49,945.65 2,049,945.65 91282CLB5 08/27/24 07/31/26 U.S. Treasury 2,500,000.00 3.872% 218,875.49 2,718,875.49 912828U24 12/27/21 11/15/26 U.S. Treasury 2,500,000.00 1.200% 244,198.90 2,744,198.90 91282CDK4 01/14/22 11/30/26 U.S. Treasury 1,500,000.00 1.463% 91,432.01 1,591,432.01 912828Z78 05/08/23 01/31/27 U.S. Treasury 1,500,000.00 3.500% 83,970.99 1,583,970.99 91282CKJ9 05/06/24 04/15/27 U.S. Treasury 3,000,000.00 4.710% 404,870.90 3,404,870.90 91282CFB2 04/21/23 07/31/27 U.S. Treasury 2,500,000.00 3.770% 294,181.63 2,794,181.63 91282CFB2 05/03/24 07/31/27 U.S. Treasury 1,500,000.00 4.600% 144,375.00 1,644,375.00 91282CFU0 09/08/23 10/31/27 U.S. Treasury 1,500,000.00 4.491% 278,437.50 1,778,437.50 91282CGC9 01/25/23 12/31/27 U.S. Treasury 500,000.00 3.570% 96,393.30 596,393.30 91282CGC9 01/31/23 12/31/27 U.S. Treasury 750,000.00 3.647% 144,108.25 894,108.25 91282CGC9 09/08/23 12/31/27 U.S. Treasury 1,500,000.00 4.472% 261,562.50 1,761,562.50 91282CHA2 12/14/23 04/30/28 U.S. Treasury 1,000,000.00 4.265% 157,452.99 1,157,452.99 9128284N7 07/17/23 05/15/28 U.S. Treasury 1,000,000.00 3.952% 143,750.00 1,143,750.00 91282CHQ7 07/18/24 07/31/28 U.S. Treasury 2,000,000.00 4.118% 371,250.00 2,371,250.00 Total U.S. Treasury 54,250,000.00$ 2.688% 4,096,833.50$ 58,346,833.50$ CUSIP Settlement Maturity Issuer Par Yield Interest Return 06406RAL1 02/18/20 10/24/24 Bank of NY Mellon 3,055,000.00 1.816% 300,459.25 3,355,459.25 06368G3W5 11/15/21 11/15/24 Bank of Montreal 2,000,000.00 1.000% 60,000.00 2,060,000.00 931142DV2 01/16/20 12/15/24 Wal-Mart 2,000,000.00 1.900% 260,436.11 2,260,436.11 478160CJ1 01/15/20 01/15/25 Johnson & Johnson 1,820,000.00 1.586% 238,875.00 2,058,875.00 478160CJ1 04/08/20 01/15/25 Johnson & Johnson 3,000,000.00 0.906% 375,593.75 3,375,593.75 478160CJ1 07/13/20 01/15/25 Johnson & Johnson 1,000,000.00 0.510% 118,270.83 1,118,270.83 037833AZ3 09/10/21 02/09/25 Apple Inc 1,500,000.00 0.753% 128,020.83 1,628,020.83 66989HAP3 04/13/20 02/14/25 Novartis Capital Corp 3,310,000.00 1.300% 280,131.74 3,590,131.74 12572QAG0 06/03/20 03/15/25 CME Group Inc 2,771,000.00 0.730% 397,638.50 3,168,638.50 654106AH6 12/31/20 03/27/25 Nike Inc.2,867,000.00 0.500% 291,669.47 3,158,669.47 341081FZ53 05/13/20 04/01/25 Flordia Power & Light 3,667,000.00 1.020% 509,193.51 4,176,193.51 78015K7H17 12/07/21 06/10/25 Royal Bank of Canada 2,000,000.00 1.304% 80,691.67 2,080,691.67 478160CN2 04/23/21 09/01/25 Johnson & Johnson 1,250,000.00 0.705% 29,944.44 1,279,944.44 742718FL8 09/20/21 10/29/25 Procter & Gamble 1,500,000.00 0.757% 33,893.75 1,533,893.75 92826CAD4 05/17/21 12/14/25 Visa Inc 1,250,000.00 0.910% 180,140.62 1,430,140.62 06048WK82 08/23/21 01/26/26 Bank of America 1,000,000.00 1.000% 33,550.00 1,033,550.00 58933YAY1 04/12/21 02/24/26 Merck & Co 1,500,000.00 0.950% 54,750.00 1,554,750.00 48128G2Q2 03/01/21 02/26/26 JP Morgan Chase Bank 2,000,000.00 0.800% 80,000.00 2,080,000.00 478160BY9 03/01/21 03/01/26 Johnson & Johnson 2,500,000.00 0.750% 306,250.00 2,806,250.00 48128G3A6 03/03/21 03/03/26 JP Morgan Chase Bank 2,000,000.00 1.000% 100,000.00 2,100,000.00 48128G3V0 06/11/21 06/11/26 JP Morgan Chase Bank 2,000,000.00 1.150% 115,000.00 2,115,000.00 06048WM64 07/12/21 06/25/26 Bank of America 3,000,000.00 1.210% 178,300.00 3,178,300.00 57629WDE7 07/22/21 07/16/26 Massmtual Global 3,750,000.00 1.010% 224,250.00 3,974,250.00 594918BR4 08/11/21 08/08/26 Microsoft 4,000,000.00 0.900% 293,040.00 4,293,040.00 U.S. Treasury Corporate notes Nov. 21, 2024 Item #1 Page 49 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return Aug. 31, 2024 48128G5A4 08/25/21 08/25/26 JP Morgan Chase Bank 2,000,000.00 1.200% 120,000.00 2,120,000.00 06048WN63 09/10/21 09/10/26 Bank of America 2,000,000.00 1.150% 115,000.00 2,115,000.00 06048WP20 09/24/21 09/24/26 Bank of America 2,000,000.00 1.250% 125,000.00 2,125,000.00 59217GBY4 01/19/22 12/18/26 Met Life Global 4,000,000.00 1.940% 678,116.67 4,678,116.67 06368GC39 12/30/21 12/30/26 Bank of Montreal (BLC)2,450,000.00 2.000% 245,000.00 2,695,000.00 742718FV6 02/04/22 02/01/27 Procter & Gamble 2,000,000.00 1.331% 189,683.33 2,189,683.33 742718FV6 05/11/23 02/01/27 Procter & Gamble 1,000,000.00 3.620% 76,000.00 1,076,000.00 48128G6F2 02/25/22 02/25/27 JP Morgan Chase Bank 5,000,000.00 2.550% 197,283.33 5,197,283.33 478160CE2 04/18/22 03/03/27 Johnson & Johnson 1,750,000.00 2.850% 251,671.87 2,001,671.87 742718FG9 07/08/22 03/25/27 Procter & Gamble 2,500,000.00 3.200% 329,972.22 2,829,972.22 64952WEQ2 06/23/23 04/07/27 New York Life Global 1,500,000.00 4.630% 195,000.00 1,695,000.00 64952WEQ2 07/18/23 04/07/27 New York Life Global 2,000,000.00 4.610% 260,000.00 2,260,000.00 06048WW63 06/23/22 06/22/27 Bank of America 3,000,000.00 5.000% 750,000.00 3,750,000.00 194162AN3 05/09/23 08/15/27 Colgate-Palmolive 2,000,000.00 3.694% 223,408.33 2,223,408.33 81257VAA9 03/10/23 10/01/27 Seattle Children Hosp 1,000,000.00 5.000% 222,581.34 1,222,581.34 78014RHK9 10/18/22 10/18/27 Royal Bank of Canada 2,500,000.00 5.700% 712,500.00 3,212,500.00 592179KF1 10/17/23 01/06/28 Met Life Global 1,000,000.00 5.050% 227,250.00 1,227,250.00 78014RKF6 01/18/23 01/18/28 Royal Bank of Canada 2,500,000.00 5.450% 691,090.22 3,191,090.22 742718FZ7 11/01/23 01/26/28 Procter & Gamble 2,000,000.00 4.979% 355,500.00 2,355,500.00 48130CDL6 11/03/23 11/03/28 JP Morgan Chase Bank 1,800,000.00 6.150% 553,500.00 2,353,500.00 771196BW1 12/22/23 12/13/28 Roche Holdings Inc 2,000,000.00 4.330% 193,000.00 2,193,000.00 6944PL2Z1 01/12/24 01/11/29 Pacific Life Global 1,000,000.00 4.752% 245,000.00 1,245,000.00 742718GF0 02/20/24 01/29/29 Procter & Gamble 2,000,000.00 4.530% 435,241.67 2,435,241.67 771196CJ9 03/28/24 03/08/29 Roche Holdings Inc 3,000,000.00 4.640% 718,500.00 3,718,500.00 478160CU6 06/13/24 06/01/29 Johnson & Johnson 3,000,000.00 4.800% 724,400.00 3,724,400.00 478160CU6 06/03/24 06/01/29 Johnson & Johnson 2,750,000.00 4.895% 664,033.34 3,414,033.34 64952WFG3 07/16/24 06/06/29 New York Life Global 3,000,000.00 4.718% 750,000.00 3,750,000.00 06376A5W6 06/18/24 06/18/29 Bank of Montreal (BLC)3,500,000.00 5.750% 1,006,250.00 4,506,250.00 17325FBK3 08/20/24 08/06/29 Citibank 2,000,000.00 4.838% 483,800.00 2,483,800.00 Total corporate notes 120,990,000.00$ 2.562% 16,408,881.79$ 137,398,881.79$ CUSIP Settlement Maturity Issuer Par Yield Interest Return 29278TLH1 09/13/19 09/13/24 Enerbank Usa 249,000.00 1.750% 21,787.50 270,787.50 15118RSC2 09/18/19 09/30/24 Celtic Bank 249,000.00 1.700% 20,956.25 269,956.25 75472RAN1 11/26/19 11/26/24 Raymond James Bank NA 247,000.00 1.850% 22,872.54 269,872.54 61690URM4 01/09/20 01/09/25 Morgan Stanley Bank NA 247,000.00 1.900% 23,490.72 270,490.72 07815AAZ0 02/27/20 02/27/25 Bell Bank Corp 249,000.00 1.600% 19,941.88 268,941.88 02554BDA6 03/13/20 03/13/25 American Eagle bank 249,000.00 1.100% 13,702.54 262,702.54 17037TEN3 03/13/20 03/13/25 Choice Financial Group 248,000.00 1.100% 13,647.47 261,647.47 73319FAF6 03/18/20 03/18/25 Poppy Bank 249,000.00 1.100% 13,702.54 262,702.54 835104BZ2 03/19/20 03/19/25 Somerset Trust 249,000.00 1.000% 12,456.88 261,456.88 45083ANS7 03/20/20 03/20/25 Iberia Bank 248,000.00 1.000% 12,406.79 260,406.79 02519TAZ9 03/27/20 03/27/25 American Commerce Bank 249,000.00 0.950% 11,834.03 260,834.03 072727BF6 03/27/20 03/27/25 Baycoast Bank 248,000.00 0.950% 11,786.45 259,786.45 14042TDD6 04/08/20 04/08/25 Capital One 248,000.00 1.600% 19,850.88 267,850.88 29260MBF1 05/15/20 05/15/25 Encore Bank 249,000.00 0.800% 9,965.41 258,965.41 33847E3H8 05/15/20 05/15/25 Flagstar Bank 248,000.00 0.850% 10,545.77 258,545.77 404730CR2 05/26/20 05/27/25 Haddon Savings Bank 248,000.00 0.750% 9,310.19 257,310.19 43719LAE5 05/29/20 05/29/25 Home Loan Inv Bank 249,000.00 0.800% 9,965.41 258,965.41 56102AAJ5 05/29/20 05/29/25 Malaga Bank 249,000.00 0.700% 8,719.87 257,719.87 69506YRT8 05/29/20 05/29/25 Pacific Western Bank 249,000.00 0.700% 8,719.77 257,719.77 86128QCF3 06/10/20 06/10/25 Stockman Bank 249,000.00 0.600% 7,474.10 256,474.10 740367MA2 07/17/20 07/17/25 Preferred Bank 249,000.00 0.500% 6,228.46 255,228.46 89235MJZ5 07/16/20 07/28/25 Toyota Financial Savings Bank 249,000.00 0.650% 8,096.93 257,096.93 211163KQ2 07/29/20 07/29/25 Continental Bank 249,000.00 0.500% 6,228.46 255,228.46 Certificate of deposit Nov. 21, 2024 Item #1 Page 50 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return Aug. 31, 2024 02007GXF5 08/09/22 08/04/25 Ally Bank 201,000.00 3.400% 20,427.10 221,427.10 549104RV1 08/14/20 08/14/25 Luana Savings Bank 249,000.00 0.450% 5,605.57 254,605.57 32022RNT0 08/19/20 08/19/25 1st Financial Bank 249,000.00 0.450% 5,605.82 254,605.82 31944MBB0 08/20/20 08/20/25 1st Carolina Bank 249,000.00 0.450% 5,605.82 254,605.82 664122AF5 08/20/20 08/20/25 Northeast Community Bank 249,000.00 0.450% 5,605.82 254,605.82 228212AQ9 09/04/20 09/04/25 Crown Bank 249,000.00 0.400% 4,982.62 253,982.62 59013KKJ4 09/15/20 09/15/25 Merrick 249,000.00 0.400% 4,982.62 253,982.62 2027506P5 10/22/20 09/25/25 Commonwealth Bus Bank 249,000.00 0.400% 4,908.94 253,908.94 51507LBY9 09/29/20 09/29/25 Landmark Community 249,000.00 0.400% 4,982.58 253,982.58 538036LQ5 10/22/20 10/08/25 Live Oak Bank 249,000.00 0.400% 4,944.42 253,944.42 560390AS5 10/15/20 10/15/25 Maine Comm Bank 249,000.00 0.350% 4,359.94 253,359.94 33625CDS5 10/16/20 10/16/25 First Security Bank Wash 249,000.00 0.350% 4,359.94 253,359.94 780684AJ5 11/06/20 10/23/25 Royal Savings Bank 249,000.00 0.400% 4,944.42 253,944.42 33744AAW9 11/18/20 11/18/25 First US Bank 249,000.00 0.400% 4,982.62 253,982.62 88413QCU0 12/18/20 12/18/25 Third Federal Savings and Loan 249,000.00 0.450% 5,605.56 254,605.56 91330ACR6 12/18/20 12/18/25 Unity Bank 249,000.00 0.400% 4,982.72 253,982.72 08016PDV8 12/23/20 12/23/25 Belmont Savings Bank 249,000.00 0.400% 4,982.62 253,982.62 634116CW5 12/28/20 12/23/25 National Bank of NY City 249,000.00 0.400% 4,968.98 253,968.98 882214AA7 01/08/21 12/23/25 Texas Bank Henderson 249,000.00 0.450% 5,556.70 254,556.70 06424KBH2 01/08/21 01/08/26 Bank of Santa Clarita 249,000.00 0.400% 4,982.62 253,982.62 38522ABP0 01/08/21 01/08/26 Grand Bank Tulsa 249,000.00 0.400% 4,982.62 253,982.62 20143PEH9 01/26/21 01/26/26 Commercial Bank 249,000.00 0.471% 5,605.82 254,605.82 15258RAV9 01/27/21 01/27/26 Central Bank Storm Lake 249,000.00 0.471% 5,605.82 254,605.82 43786UAJ2 02/18/21 01/29/26 Hometown Bk of Alabama 249,000.00 0.400% 4,928.04 253,928.04 909242AN9 02/26/21 02/26/26 United Rep Bk Omaha 249,000.00 0.400% 4,982.61 253,982.61 12527CDV1 03/03/21 03/03/26 CFG Community Bk 249,000.00 0.400% 4,982.73 253,982.73 110087AS2 03/10/21 03/10/26 Bristol Morgan Bank 249,000.00 0.450% 5,605.82 254,605.82 87164XA30 09/03/21 09/03/26 Syncrony Bank 249,000.00 0.900% 11,205.00 260,205.00 90348JS92 09/09/21 09/09/26 UBS Bank USA 249,000.00 0.950% 11,834.03 260,834.03 795451BH5 04/05/22 02/23/27 Sallie May Bank 247,000.00 2.564% 26,574.50 273,574.50 598580AM0 03/08/23 03/08/27 Mifflinburg Bank and Trust Company 249,000.00 4.650% 46,345.77 295,345.77 27004PCN1 03/09/22 03/09/27 Eaglemark Savings 247,000.00 2.000% 24,713.53 271,713.53 64034KBF7 03/09/22 03/09/27 Nelnet Bank Inc 247,000.00 1.950% 24,095.69 271,095.69 07371CN21 03/16/22 03/10/27 Beal Bank NV 247,000.00 1.800% 22,169.09 269,169.09 07371AB28 03/16/22 03/10/27 Beal Bank TX 247,000.00 1.800% 22,169.09 269,169.09 02589ABW1 03/23/22 03/23/27 American Exp Bank 247,000.00 2.200% 27,184.89 274,184.89 31938QW34 02/15/22 04/15/27 First Business Bank 245,000.00 3.900% 33,790.69 278,790.69 254673D94 05/18/22 05/19/27 Discover Bank 246,000.00 3.200% 39,403.14 285,403.14 910286GS6 07/14/23 07/14/27 United Fidelity Bank 249,000.00 4.600% 45,847.38 294,847.38 78577TMR3 11/06/23 08/06/27 Saco & Biddeford Savings Institution 244,000.00 5.000% 45,750.00 289,750.00 68405VAU3 09/15/23 09/13/27 Optum Bank 244,000.00 4.700% 45,872.00 289,872.00 20347MAS0 10/20/23 10/20/27 Community Bank and Trust 244,000.00 4.900% 47,824.00 291,824.00 37173RAJ2 12/13/23 12/13/27 Genesee Regional Bank 244,000.00 4.400% 42,944.00 286,944.00 34520LAY9 12/15/22 12/15/27 Forebright Bank 249,000.00 4.031% 49,827.34 298,827.34 84229LBJ0 12/16/22 12/16/27 Southern Bank 245,000.00 4.000% 49,026.84 294,026.84 32026U4X1 01/17/24 01/18/28 First Foundation Bank 245,000.00 4.000% 38,689.86 283,689.86 70212YBE1 02/22/23 02/22/28 Partners Bank California 245,000.00 3.850% 47,188.34 292,188.34 062119BH4 03/08/23 03/07/28 Bank Five Nine 249,000.00 4.550% 56,678.44 305,678.44 05580AW59 03/10/23 03/10/28 BMW Bank North America 244,000.00 4.600% 56,181.50 300,181.50 108622NK3 03/29/23 03/29/28 Bridgewater Bk 249,000.00 4.800% 59,825.54 308,825.54 178180GY5 03/31/23 03/31/28 City Natl Bk - Los Angeles 243,000.00 5.000% 60,816.56 303,816.56 914098DQ8 04/03/23 04/03/28 University Bank NA 249,000.00 4.800% 59,825.53 308,825.53 61768E3D3 05/08/24 05/08/28 Morgan Stanley Bank NA 244,000.00 4.700% 45,903.42 289,903.42 05600XQE3 05/16/23 05/16/28 BMO Harris Bank NA 244,000.00 4.500% 54,960.16 298,960.16 23204HPB8 06/06/23 06/14/28 Customers Bank 244,000.00 4.500% 53,365.81 297,365.81 91527PCD7 06/06/23 06/21/28 Univest Bank & Trust 249,000.00 4.500% 56,546.88 305,546.88 501798UJ9 07/18/23 07/18/28 LCA Bank Corporation 243,000.00 4.500% 54,734.92 297,734.92 58404DTG6 09/19/23 09/19/28 Medallion Bank 249,000.00 4.600% 57,332.81 306,332.81 Nov. 21, 2024 Item #1 Page 51 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return Aug. 31, 2024 59936MAA4 09/25/23 09/25/28 Milford Building & Loan 244,000.00 4.550% 55,510.00 299,510.00 84287PJB9 10/17/23 10/17/28 Southern First Bank 244,000.00 4.850% 59,170.00 303,170.00 949765HZ0 11/21/23 11/21/28 Wells Fargo Bank NA 248,000.00 5.050% 62,898.31 310,898.31 523343AA9 12/29/23 12/29/28 Ledyark National Bank 244,000.00 4.050% 49,464.16 293,464.16 227563EX7 03/12/24 03/07/29 Cross River Bank 244,000.00 4.250% 51,736.36 295,736.36 04518XAH7 03/14/24 03/14/29 Asian Bank 244,000.00 4.200% 51,268.08 295,268.08 38150VUH0 05/21/24 05/21/29 Goldman Sachs Bank 244,000.00 4.500% 54,930.08 298,930.08 93883MAZ1 05/22/24 05/22/29 Washington Financial Bank 244,000.00 4.450% 54,319.75 298,319.75 06652CHX2 07/31/24 07/31/29 Bankwest Inc 248,000.00 4.900% 60,760.00 308,760.00 Total certificate of deposit 22,232,000.00$ 2.163% 2,276,445.22$ 24,508,445.22$ 3137F32A1 04/15/20 11/25/24 FHLM - KHG1 A1 266,846.55 0.999% 1,953.11 268,799.66 30315EAA4 07/24/20 05/25/25 FRESB - MFM 875,301.66 0.830% 2,974.32 878,275.98 3137BJQ71 03/15/21 05/25/25 FHLM - FHMS KPLB A 2,000,000.00 2.770% 22,717.39 2,022,717.39 30318NAA1 02/19/21 01/25/26 FRESB - 2021-SB83 1,196,903.35 0.505% 6,555.86 1,203,459.21 3137BPW21 03/25/21 03/25/26 FHLM - KHMS K055 2,500,000.00 2.673% 54,068.05 2,554,068.05 3137BP4J5 08/20/21 03/25/26 FHLM - FHMS K1R1 882,954.49 0.414% 18,318.92 901,273.41 30321CAQ5 07/23/21 04/25/26 FRESB - 2021-SB88 1,656,912.73 0.746% 12,322.90 1,669,235.63 30324QAC2 01/21/22 11/25/26 FRESB - 2022-SB94 3,923,148.67 1.500% 71,935.58 3,995,084.25 30311SAA7 04/22/22 04/25/27 FRESB - 2022-SB97 3,289,218.34 2.803% 74,178.37 3,363,396.71 30329MAA0 10/28/22 06/25/27 FRESB - 2022-SB103 1,465,336.98 4.989% 42,472.58 1,507,809.56 30329QAA1 11/18/22 09/25/27 FRESB - 2022-SB104 3,824,059.21 2.600% 152,189.57 3,976,248.78 3138L7D60 12/16/22 10/01/27 FHLM - AM6424 957,114.77 4.212% 49,901.11 1,007,015.88 3132XGRH1 01/27/23 11/01/27 FRESB - WN2287 2,965,688.34 3.929% 170,844.96 3,136,533.30 3132XFGC6 01/08/24 03/01/28 FHLM - WN1094 1,000,000.00 4.476% 24,080.13 1,024,080.13 3140LBSE4 01/09/24 03/01/28 FNMA - BS1416 1,000,000.00 4.300% 18,189.17 1,018,189.17 3140LJJC1 01/17/24 04/01/28 FNMA - BS7458 2,000,000.00 4.780% 168,332.10 2,168,332.10 3140LKEG4 01/09/24 05/01/28 FNMA - BS8234 1,381,540.00 4.448% 109,103.68 1,490,643.68 3132XFMP0 02/06/24 05/01/28 FHLM - WN1265 2,000,000.00 4.611% 170,864.69 2,170,864.69 30332EAA3 07/20/23 05/25/28 FRESB - 2023-SB107 2,993,340.29 4.090% 226,850.61 3,220,190.90 35564CAA5 01/11/24 06/25/28 FHLM - SLST 2018 949,448.06 5.366% 63,749.22 1,013,197.28 30333AAA0 08/17/23 06/25/28 FRESB - 2023-SB108 3,487,332.64 4.793% 281,242.20 3,768,574.84 3132XGYJ9 03/07/24 09/01/28 FHLM - WN2512 1,550,000.00 4.800% 131,015.13 1,681,015.13 30334CAA5 11/16/23 09/25/28 FRESB - 2023-SB111 2,748,583.67 5.284% 263,040.42 3,011,624.09 3132XGYR1 03/18/24 11/01/28 FHLM - WN2519 2,500,000.00 4.797% 244,140.45 2,744,140.45 3132XFNX2 02/13/24 11/01/28 FHLM - WN1305 2,000,000.00 4.350% 180,334.98 2,180,334.98 3132XGYU4 03/15/24 12/01/28 FHLM - WN2522 3,000,000.00 4.530% 286,183.55 3,286,183.55 3140NUFX2 01/30/24 12/01/28 FNMA - BZ0181 3,000,000.00 4.920% 312,123.04 3,312,123.04 30336BAA5 04/25/24 12/25/28 FRESB - 2024-SB113 3,499,571.71 5.217% 383,060.79 3,882,632.50 3132XGZE9 03/13/24 01/01/29 FHLM - WN2540 3,500,000.00 4.900% 307,218.87 3,807,218.87 3140NUN54 01/29/24 01/01/29 FNMA - BZ0411 2,000,000.00 4.400% 180,208.59 2,180,208.59 3140HRZS5 01/17/24 01/01/29 FNMA - BL0752 1,500,000.00 3.650% 113,008.64 1,613,008.64 3140NUUA5 03/19/24 03/01/29 FNMA - BZ0576 2,000,000.00 4.561% 202,677.84 2,202,677.84 3140NUUL1 03/13/24 03/01/29 FNMA - BZ0586 2,000,000.00 4.371% 190,655.15 2,190,655.15 30337MAA0 06/27/24 03/25/29 FRESB - 2024-SB114 2,975,701.71 4.990% 345,896.35 3,321,598.06 3132XFQN1 07/02/24 04/01/29 FHLM - WN1360 2,000,000.00 4.568% 181,232.33 2,181,232.33 3140LGDL3 08/13/24 06/01/29 FNMA - BS5506 2,000,000.00 4.125% 139,832.63 2,139,832.63 3132XG3G9 07/23/24 06/01/29 FHLM - WN3598 2,000,000.00 4.592% 203,385.76 2,203,385.76 3140HURA6 08/27/24 07/01/29 FNMA - BL3180 2,500,000.00 4.007% 168,705.32 2,668,705.32 Total mortgage backed securities (agency) 81,389,003.17$ 3.941% 5,575,564.36$ 86,964,567.53$ CUSIP Settlement Maturity Issuer Par Yield Interest Return 419792ZK5 02/26/21 10/01/24 Hawaii, State of 3,000,000.00 0.433% 86,549.17 3,086,549.17 419792ZK5 03/17/22 10/01/24 Hawaii, State of 2,000,000.00 2.160% 40,723.78 2,040,723.78 Mortgage backed securities (agency) Municpal bonds Nov. 21, 2024 Item #1 Page 52 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return Aug. 31, 2024 79771FAX5 03/01/21 11/01/24 San Francisco City Public Utilities 1,000,000.00 0.600% 26,523.31 1,026,523.31 575181GX 06/02/21 12/01/24 Mason & Kitsap Counties School District 640,000.00 0.538% 12,041.64 652,041.64 023051YW9 07/19/21 02/01/25 Amarillo Independent SD 1,800,000.00 0.600%- 1,800,000.00 882806HG0 03/22/21 02/15/25 Texas St Tech Univ 2,500,000.00 0.679% 93,800.00 2,593,800.00 91412HGE7 03/01/21 05/15/25 University of California 1,500,000.00 0.600% 55,724.13 1,555,724.13 91412HGE7 06/29/21 05/15/25 University of California 1,960,000.00 0.799% 67,111.92 2,027,111.92 625506QN3 02/02/21 06/15/25 County of Multnomah OR 2,000,000.00 0.430% 37,553.89 2,037,553.89 91412GU94 01/28/21 07/01/25 University of California 1,805,000.00 0.509% 244,645.68 2,049,645.68 20772KEW5 06/30/22 09/15/25 Connecticut, State of 2,850,000.00 3.201% 476,400.00 3,326,400.00 13063DMA3 04/01/21 04/01/26 California, State of 4,140,000.00 0.970% 161,300.35 4,301,300.35 13063DMA3 05/18/21 04/01/26 California, State of 1,250,000.00 0.910% 342,250.56 1,592,250.56 736688MF6 09/01/21 06/15/26 Portland Community College 1,100,000.00 0.841% 122,255.56 1,222,255.56 569280EX4 12/07/21 06/15/26 Marion County School 1,880,000.00 1.374% 548,550.00 2,428,550.00 842475P82 02/11/22 07/01/26 Sthrn CA ST Pub Pwr Auth 2,485,000.00 1.930% 47,357.32 2,532,357.32 797272QR5 08/12/21 08/01/26 San Diego Community College 3,000,000.00 0.860% 33,041.17 3,033,041.17 801315KR2 08/23/21 08/01/26 Santa Barbara CA USD 500,000.00 0.842% 81,862.08 581,862.08 798189PY6 08/23/21 08/01/26 San Jose Evergreen Community College 750,000.00 0.842% 101,809.78 851,809.78 798170AJ5 01/06/22 08/01/26 San Jose Redevelopment 3,000,000.00 1.507% 342,742.58 3,342,742.58 6041295T9 08/10/22 08/01/26 Minnesota, State of 1,215,000.00 3.250% 174,512.81 1,389,512.81 79730CJK1 04/22/24 08/01/26 San Diego Pub Fin Auth Water Revenue 2,000,000.00 5.035% 86,586.50 2,086,586.50 13063DRD2 02/08/22 10/01/26 California, State of 2,400,000.00 1.730% 170,415.98 2,570,415.98 419792ZN9 03/02/22 10/01/26 Hawaii, State of 2,000,000.00 1.810% 264,891.67 2,264,891.67 13067WSW3 12/20/21 12/01/26 California, State of 1,275,000.00 1.051% 977,643.33 2,252,643.33 13067WSW3 03/29/22 12/01/26 California, State of 1,425,000.00 2.708% 84,523.29 1,509,523.29 13067WSW3 04/18/22 12/01/26 California, State of 2,705,000.00 3.035% 90,565.95 2,795,565.95 016249FQ2 10/30/23 02/15/27 Alief Independent School District 1,980,000.00 5.380% 360,360.00 2,340,360.00 544646A77 06/13/22 05/01/27 Los Angeles Unified School District 3,500,000.00 3.820% 15,705.20 3,515,705.20 68608VDX9 10/13/23 05/01/27 Oregon, State of 1,000,000.00 5.080% 132,640.00 1,132,640.00 91412HGF4 05/15/23 05/15/27 University of California 1,000,000.00 3.810% 52,640.00 1,052,640.00 91412HGF4 05/16/24 05/15/27 University of California 2,500,000.00 4.712% 98,700.00 2,598,700.00 91412HGF4 05/03/24 05/15/27 University of California 1,000,000.00 4.780% 46,060.00 1,046,060.00 544495VX9 08/27/23 07/01/27 Los Angeles Dept of Water & Power 1,500,000.00 4.100% 345,669.33 1,845,669.33 419794F72 06/06/23 07/01/27 Hawaii, State of 1,125,000.00 4.720% 82,624.50 1,207,624.50 438701Y40 06/28/23 07/01/27 Honolulu Wastewater System Revenue 1,500,000.00 4.460% 168,412.50 1,668,412.50 796720NT3 02/22/23 08/01/27 San Bernardino Community College Dist 1,500,000.00 1.480% 107,266.25 1,607,266.25 357155BA7 05/09/23 08/01/27 Fremont CA Unified School District 2,000,000.00 3.750% 94,110.34 2,094,110.34 68609TU22 08/22/23 08/01/27 Oregon State Dept of Transportation 1,585,000.00 1.354% 85,843.60 1,670,843.60 212204JH5 08/31/23 08/01/27 Contra Costa CA Community College Dist 1,000,000.00 4.720% 86,520.00 1,086,520.00 797272RP8 10/25/23 08/01/27 San Diego Community College 2,290,000.00 5.161% 149,582.80 2,439,582.80 072031AP2 08/01/23 10/01/27 Bay Area Water 1,250,000.00 4.742% 189,281.25 1,439,281.25 032556FB3 10/17/23 10/01/27 City of Anaheim 1,670,000.00 1.998% 133,466.40 1,803,466.40 68607DVD4 06/16/23 11/15/27 Oregon State Dept of Transportation 2,000,000.00 4.370% 97,560.00 2,097,560.00 13063DC48 12/14/23 02/01/28 California, State of 1,440,000.00 4.500% 110,160.00 1,550,160.00 13063DGC6 07/23/24 04/01/28 California, State of 3,000,000.00 4.474% 420,000.00 3,420,000.00 54438CYM8 12/19/23 08/01/28 Los Angeles Community College Dist 2,250,000.00 4.350% 180,675.00 2,430,675.00 802385SN5 11/17/23 08/01/28 Santa Monica Community College Dist 1,000,000.00 4.950% 176,350.00 1,176,350.00 798170AL0 08/09/23 08/01/28 San Jose Redevelopment 1,000,000.00 4.742% 189,281.25 1,189,281.25 83412PHS4 01/22/24 08/01/28 Solano County Community College Dist 2,000,000.00 4.227% 147,900.00 2,147,900.00 7994082H1 08/24/23 08/01/28 San Ramon Valley School District 1,000,000.00 4.850% 83,500.00 1,083,500.00 695802NN4 12/07/23 08/01/28 Pajaro Valley Unified School District 1,015,000.00 4.294% 257,640.00 1,272,640.00 882723B40 11/21/23 10/01/28 Texas, State of 1,500,000.00 4.700% 248,325.00 1,748,325.00 882724RD1 11/21/23 10/01/28 Texas PFA, State of 2,000,000.00 4.750% 227,600.00 2,227,600.00 13063DL22 11/15/23 10/01/28 California, State of 1,000,000.00 5.008% 87,500.00 1,087,500.00 13077DQG0 02/08/24 11/01/28 California State University 2,500,000.00 4.260% 190,125.00 2,690,125.00 59320A30 05/01/24 05/01/29 Miami Beach FL, City of 1,400,000.00 4.674% 327,180.00 1,727,180.00 769036BR4 06/03/24 06/01/29 Riverside, City of 1,375,000.00 4.895% 194,081.25 1,569,081.25 Total municpal bonds 103,060,000.00$ 2.802% 9,858,142.11$ 112,918,142.11$ Nov. 21, 2024 Item #1 Page 53 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Yield Interest Return Aug. 31, 2024 01WFBCASH Wells Fargo Bank - General 2,763,702.00 0.000%- 2,763,702.00 01WFBSWEEP Wells Fargo Sweep account 2,671,276.77 5.161%- 2,671,276.77 01WFBCUSTODY Principal - Custody 1,514,679.82 2.950%- 1,514,679.82 01CAMP1028 CAMP 127,339,617.99 5.410%- 127,339,617.99 01CI0502 LAIF City 213,565.13 4.579%- 213,565.13 01CM0502 LAIF CMWD 863,213.83 4.579%- 863,213.83 01PF10391 LAIF CPFA 790,735.93 4.579%- 790,735.93 Total cash and pooled investments 136,156,791.47$ 5.257%-$ 136,156,791.47$ GRAND TOTAL 886,987,794.64$ 2.9446%72,699,856.73$ 959,687,651.37$ Cash and pooled investments Nov. 21, 2024 Item #1 Page 54 of 86 City of Carlsbad investment portfolio 115 Trust Activity Exhibit 10 Period Ending Contributions Net Earnings Distributions Ending Balance Fiscal year 2023-24 10,000,000.00 849,412.96 - 10,849,412.96 07/31/24 - 260,092.28 - 11,109,505.24 08/31/24 - 228,127.56 - 11,337,632.80 Grand total 10,000,000.00$ 1,337,632.80$ -$ 11,337,632.80$ Aug. 31, 2024 The city's Section 115 Trust is a post-employment benefit trust that was established by City Council on September 12, 2023 (Resolution 2023-240). In connection with City Council Policy No. 86 and 98, the trust allows the city to stabilize pension cost volatility, maintain local control over the city's assets and earn a potentially higher rate of return than if the assets were kept in the General Fund. These funds are restricted and not pooled with other investment funds. Nov. 21, 2024 Item #1 Page 55 of 86 Meeting Date: Nov. 12, 2024 To: Mayor and City Council From: Scott Chadwick, City Manager Staff Contact: Zach Korach, Finance Director/Deputy City Treasurer zach.korach@carlsbadca.gov, 442-339-2127 Subject: Report on City Investments as of Sept. 30, 2024 District: All Recommended Action Accept and file Report on City Investments as of Sept. 30, 2024. Executive Summary The city’s Investment Policy requires the City Treasurer to report the status of the city’s pooled investment portfolio to the City Council each month. Discussion & Fiscal Analysis The city’s pooled investment portfolio as of the month ending Sept. 30, 2024, is summarized below. Pooled investment portfolio (cash and securities) Current month Prior month Par value1 $884,445,644 $886,987,795 Investment cost $879,000,619 $881,873,237 Amortized cost2 $878,221,220 $880,836,137 Market value3 $868,870,644 $867,374,756 (1)The face value of the investments. (2)The cost of investments adjusted for amortized premiums and discounts. (3)The amount at which the investments could be sold. Source of market value is Principal custodial report. Exhibit 3 Nov. 21, 2024 Item #1 Page 56 of 86 The equity portion of the various funds in the total portfolio, that is, the part of the total investment portfolio assigned to each fund, is summarized in the graph below. Fund balances are restricted for various purposes (See Exhibit 6 for a more detailed breakdown). Pooled investment interest income4 Fiscal year to date Current month Prior month Cash income $6,664,453 $1,969,876 $2,225,463 (4) The cash income received is adjusted for any received interest previously purchased. Pooled investment performance Average life (years) Yield5 Modified duration July 2024 1.95 2.89% 1.68 August 2024 1.92 2.94% 1.65 September 2024 1.91 2.93% 1.65 (5) Yield is computed by totaling the weighted average of each investment’s return less any costs. All pooled investments have been made in accordance with the city’s Investment Policy, which was adopted Jan. 2, 1985, and last revised Mar. 12, 2024; however, events after the purchase might result in perceived non-compliance with the current policy. These events are typically a change in the credit rating after a purchase, a change in the city’s Investment Policy, or a temporary reduction in total portfolio assets. Capital projects, $408 Enterprise, $207 General, $133 Internal service, $84 Special revenue, $36 Fiduciary, $2 Fund equity in pooled investments (in millions) Nov. 21, 2024 Item #1 Page 57 of 86 Exhibit 7 shows the investments out of compliance with the current policy that experienced a subsequent change in credit rating. Ratings on one investment has dropped to less than the rating required by the Investment Policy since the initial purchase. In addition, one investment was refunded and collateralized by the US Treasury since the initial purchase and is therefore not rated. Corporate notes and municipal bonds require a “split rating” of AA from one rating company and an A rating from a second. Mortgage-backed securities require an AA rating from one rating company. The city’s Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. All investments are paying interest at the required times and their principal is considered secure. It is the intent of the City Treasurer to hold these assets in the portfolio until maturity unless events indicate they should be sold. Not less than two-thirds (66.67%) of the current fiscal year operating budget shall mature within one year. The maturity value within one year is $308,877,996 which is 73.72% of the current year operating budget. The investment portfolio has the ability to meet the city’s anticipated cash flow demands for the next six months. Next Steps The report on city investments will continue to be produced monthly by the Deputy City Treasurer until the new City Treasurer is elected in November 2024. Environmental Evaluation This action does not require environmental review because it does not constitute a project within the meaning of the California Environmental Quality Act under California Public Resources Code Section 21065 in that it has no potential to cause either a direct physical change or a reasonably foreseeable indirect physical change in the environment. Exhibits 1. Investments by cost, market value, cash income and average yield by class 2. Maturities by classification and length of time at market value 3. Yield comparison & market yield curve 4. Cash income by month & cumulative cash income 5. Maturities, calls and purchases this quarter 6. Fund equity in pooled investments 7. Security ratings and outlooks 8. Portfolio allocation at amortized cost by issuer 9. Investment detail 10. Section 115 Trust activity 11. Investments of bond accounts 12. Affordable housing loan summary Nov. 21, 2024 Item #1 Page 58 of 86 City of Carlsbad investment portfolio Investments by cost, market value, cash income and average yield by class Exhibit 1 Investment cost Market value Average yield Class Current month Prior month Current month Prior month YTD net income Current month Prior month Percent of total Certificate of deposit 22,220,876.92$ 22,224,876.92$ 22,003,758.26$ 21,874,145.07$ 133,618.37$ 2.21% 2.16% 2.53% Corporate notes 128,689,806.00$ 122,738,666.00$ 124,783,077.28$ 118,160,255.15$ 893,545.39$ 2.63% 2.56% 14.36% Federal agency $ 339,676,976.97 $ 346,533,570.97 $ 334,446,669.38 $ 339,327,961.68 $ 2,054,219.14 2.16% 2.12% 38.49% Mortgage passthrough securities 78,134,782.98$ 80,325,068.70$ 78,306,684.47$ 80,056,102.88$ 709,436.43$ 3.93% 3.94% 9.01% Municipal bonds 101,613,447.90$ 100,126,207.90$ 101,214,638.90$ 98,968,089.95$ 667,620.33$ 2.82% 2.80% 11.65% Supranational securities 20,176,492.00$ 20,176,492.00$ 19,744,428.10$ 19,642,189.80$ 122,060.00$ 2.05% 2.05% 2.27% US Treasury 51,519,676.29$ 53,591,562.73$ 51,402,827.50$ 53,189,220.00$ 224,610.23$ 2.70% 2.69% 5.92% General cash account 2,351,846.00$ 2,763,702.00$ 2,351,846.00$ 2,763,702.00$ -$ 0.00% 0.00% 0.27% Sweep account 5,445,787.81$ 2,671,276.77$ 5,445,787.81$ 2,671,276.77$ 181,071.17$ 4.80% 5.16% 0.63% Investment cash account 10,482,297.37$ 1,514,679.82$ 10,482,297.37$ 1,514,679.82$ 59,293.46$ 2.65% 2.95% 1.21% California Asset Mgmt Program (CAMP) 116,821,114.17$ 127,339,617.99$ 116,821,114.17$ 127,339,617.99$ 1,598,142.42$ 5.29% 5.41% 13.45% Local Agency Investment Fund (LAIF) 1,867,514.89$ 1,867,514.89$ 1,867,514.89$ 1,867,514.89$ 20,836.02$ 4.58% 4.58% 0.21% Total 879,000,619.30$ 881,873,236.69$ 868,870,644.13$ 867,374,756.00$ 6,664,452.96$ 2.93% 2.94% 100.00% Policy: Certificates of deposit and corporate notes are limited to 30% of total portfolio at the time of purchase. Municipal bonds are limited to 15% of total portfolio at the time of purchase. Supranational securities are limited to 10% of total portfolio at the time of purchase. Sept. 30, 2024 Nov. 21, 2024 Item #1 Page 59 of 86 City of Carlsbad investment portfolio Maturities by classification and length of time at market value Exhibit 2 Class Overnight Within 12 months 13-36 months 37-60 months Total Certificate of deposit - 7,246,734.60$ 7,675,158.74$ 7,081,864.92$ 22,003,758.26$ Corporate notes - 29,950,692.78$ 57,425,852.00$ 37,406,532.50$ 124,783,077.28$ Federal agency - 90,220,258.65$ 140,614,699.08$ 103,611,711.65$ 334,446,669.38$ Mortgage passthrough securities - 3,006,570.14$ 17,817,110.43$ 57,483,003.90$ 78,306,684.47$ Municipal bonds - 20,841,677.30$ 51,286,237.75$ 29,086,723.85$ 101,214,638.90$ Supranational securities - 3,434,537.60$ 8,700,390.00$ 7,609,500.50$ 19,744,428.10$ US Treasury - 17,208,965.00$ 23,959,475.00$ 10,234,387.50$ 51,402,827.50$ General cash account 2,351,846.00$ - - - 2,351,846.00$ Sweep account 5,445,787.81$ - - - 5,445,787.81$ Investment cash account 10,482,297.37$ - - - 10,482,297.37$ California Asset Mgmt Program (CAMP) $ 116,821,114.17 - - - 116,821,114.17$ Local Agency Investment Fund (LAIF) $ 1,867,514.89 - - - 1,867,514.89$ Totals 136,968,560.24$ 171,909,436.07$ 307,478,923.00$ 252,513,724.82$ 868,870,644.13$ Percent Total 15.76%19.79%35.39%29.06%100.00% 308,877,996.31$ 73.72% Policy: Maximum term for all securities is five years. Not less than $279,333,609 to mature within one year, two-thirds of FY 24-25 operating budget of $419,000,413. Sept. 30, 2024 Percentage of the budget Funds maturing within one year Nov. 21, 2024 Item #1 Page 60 of 86 City of Carlsbad investment portfolio Yield comparisons Exhibit 3 Sept. 30, 2024 0.00 1.00 2.00 3.00 4.00 5.00 6.00 3 month 2 year 5 year 10 year FY 22-23 end 5.43 4.87 4.13 3.81 FY 23-24 end 5.48 4.71 4.33 4.36 Sept. 2024 4.73 3.66 3.58 3.81 Ma r k e t r a t e ( % ) Yield comparison: market yields Fiscal year ends compared to current 0.00 1.00 2.00 3.00 4.00 5.00 6.00 Yi e l d ( % ) Yield comparison: Securities vs CAMP vs LAIF Three year comparison Securities CAMP LAIF Nov. 21, 2024 Item #1 Page 61 of 86 City of Carlsbad investment portfolio Cash income Exhibit 4 Fiscal year 2023-24 Sept. 30, 2024 Fiscal year 2024-25 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 In t e r e s t I n c o m e Cash income by month 13-month comparison $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 In t e r e s t I n c o m e Cumulative cash income 13-month comparison, by fiscal year Nov. 21, 2024 Item #1 Page 62 of 86 City of Carlsbad investment portfolio Maturities, calls and purchases this quarter Exhibit 5 CUSIP Issuer Settled Maturity Yield Par value Book value Total Interest Total Certificate of deposit 14042RMN8 Capital One 07/31/19 07/31/24 2.25% 247,000.00$ 247,000.00$ 27,817.96$ 274,817.96$ 938828BM1 Washington Federal 08/30/19 08/30/24 2.00% 249,000.00$ 249,000.00$ 24,927.42$ 273,927.42$ 29278TLH1 Enerbank Usa 09/13/19 09/13/24 1.75% 249,000.00$ 249,000.00$ 21,811.38$ 270,811.38$ 15118RSC2 Celtic Bank 10/18/19 09/30/24 1.70% 249,000.00$ 249,000.00$ 20,979.64$ 269,979.64$ Corporate notes 742651DP4 Private Export Funding 06/28/19 07/15/24 2.45% 2,500,000.00$ 2,565,850.00$ 309,142.36$ 2,809,142.36$ 023135AZ9 Amazon.com Inc 08/26/19 08/22/24 2.80% 2,000,000.00$ 2,000,000.00$ 279,377.78$ 2,279,377.78$ 023135AZ9 Amazon.com Inc 10/17/19 08/22/24 2.80% 2,500,000.00$ 2,500,000.00$ 339,305.56$ 2,839,305.56$ Federal agency 3133ELQ56 Federal Farm Credit Banks 03/21/22 07/02/24 0.57% 2,005,000.00$ 1,942,243.50$ 26,063.33$ 2,031,063.33$ 3130AP7D1 Federal Home Loan Banks 12/10/21 07/19/24 0.45% 2,000,000.00$ 1,978,000.00$ 26,063.33$ 2,026,063.33$ 3133ELX66 Federal Farm Credit Banks 07/24/20 07/22/24 0.44% 2,000,000.00$ 2,000,000.00$ 35,151.11$ 2,035,151.11$ 3133EKWV4 Federal Farm Credit Banks 08/08/19 07/26/24 1.85% 2,500,000.00$ 2,532,125.00$ 229,708.33$ 2,729,708.33$ 3134GW4X1 Federal Home Loan Mortgage Corp 10/29/20 07/29/24 0.38% 3,000,000.00$ 3,000,000.00$ 42,187.50$ 3,042,187.50$ 3130AGWK7 Federal Home Loan Banks 11/10/20 08/15/24 1.50% 4,000,000.00$ 4,000,000.00$ 225,833.33$ 4,225,833.33$ 3133EKQA7 Federal Farm Credit Banks 08/30/19 09/10/24 1.48% 2,500,000.00$ 2,500,000.00$ 261,444.44$ 2,761,444.44$ 880591ER9 Tennessee Valley Authority 02/19/21 09/15/24 0.30% 1,000,000.00$ 1,000,000.00$ 102,701.39$ 1,102,701.39$ 3134GWVM5 Federal Home Loan Mortgage Corp 10/22/20 09/30/24 0.35% 3,000,000.00$ 3,000,000.00$ 41,358.33$ 3,041,358.33$ 3134GWVM5 Federal Home Loan Mortgage Corp 11/06/20 09/30/24 0.35% 1,170,000.00$ 1,170,000.00$ 15,970.50$ 1,185,970.50$ 3130ALRK2 Federal Home Loan Banks 03/30/21 09/30/24 0.52% 1,500,000.00$ 1,500,000.00$ 27,300.00$ 1,527,300.00$ Mortgage passthrough securities 30311SAA7 FRESB - 2022-SB97 A5F 04/22/22 07/25/24 2.80%5,252.06$ 5,043.91$ 4,894.21$ 10,146.27$ 30315EAA4 FRESB - MFM 07/24/20 07/25/24 0.83%1,467.29$ 1,474.47$ 607.40$ 2,074.69$ 30318NAA1 FRESB - 2021-SB83 02/19/21 07/25/24 0.51%2,246.73$ 2,257.28$ 630.68$ 2,877.41$ 30321CAQ5 FRESB - 2021-SB88 A5F 07/23/21 07/25/24 0.75%2,994.08$ 3,008.14$ 1,219.35$ 4,213.43$ 30324QAC2 FRESB - 2022-SB94 01/21/22 07/25/24 1.50%7,250.00$ 7,283.53$ 5,381.01$ 12,631.01$ 30329MAA0 FRESB - 2022-SB103 A5F 10/28/22 07/25/24 4.99%2,122.02$ 1,901.09$ 2,547.05$ 4,669.07$ 30329QAA1 FRESB - 2022-SB104 A5F 11/18/22 07/25/24 2.60%4,955.63$ 4,523.69$ 8,405.73$ 13,361.36$ 30332EAA3 FRESB - 2023-SB107 A5F 07/20/23 07/25/24 4.09%990.32$ 968.79$ 10,208.62$ 11,198.94$ 30333AAA0 FRESB - 2023-SB108 A5F 08/17/23 07/25/24 4.79%1,961.43$ 1,919.16$ 12,364.01$ 14,325.44$ 30334CAA5 FRESB - 2023-SB111 A5F 11/16/23 07/25/24 5.28%171.61$ 167.77$ 10,789.44$ 10,961.05$ 30336BAA5 FRESB - 2024-SB113 04/25/24 07/25/24 5.22%117.93$ 116.94$ 14,640.78$ 14,758.71$ 30337MAA0 FRESB - 2024-SB114 06/27/24 07/26/24 4.99%403.27$ 405.27$ 12,475.00$ 12,878.27$ 3132XGRH1 FRESB - WN2287 01/27/23 07/25/24 3.93%4,022.67$ 3,986.21$ 9,143.13$ 13,165.80$ 3137BL6J2 FHLM - FHMS K048 A1 07/22/22 07/25/24 3.43%76,733.60$ 75,966.26$ 643.05$ 77,376.65$ 3137BM7B6 FHMS - K051 A1 06/30/22 07/25/24 3.30%98,529.11$ 97,759.35$ 4,062.78$ 102,591.89$ 3137BP4J5 FHLM - FHMS K1R1 08/20/21 07/25/24 0.41%45,535.77$ 47,691.60$ 1,980.86$ 47,516.63$ 3137F32A1 FHLM - KHG1 A1 04/15/20 07/25/24 0.99%91,816.92$ 98,416.26$ 1,239.57$ 93,056.49$ 3137FBTA4 FHLM - FHMS K728 03/10/21 07/25/24 3.06% 473,244.90$ 510,457.48$ 4,693.89$ 477,938.79$ 3138L7D60 FHLM - AM6424 12/16/22 07/25/24 4.21%2,571.60$ 2,489.63$ 2,766.52$ 5,338.12$ Sept. 30, 2024 Maturities Nov. 21, 2024 Item #1 Page 63 of 86 City of Carlsbad investment portfolio Maturities, calls and purchases this quarter Sept. 30, 2024 CUSIP Issuer Settled Maturity Yield Par value Book value Interest Total 35564CAA5 FHLM - SLST 2018 01/11/24 07/25/24 5.37%10,133.15$ 9,725.05$ 2,842.13$ 12,975.28$ 30311SAA7 FRESB - 2022-SB97 A5F 04/22/22 08/26/24 2.80%4,999.09$ 4,800.97$ 4,886.42$ 9,885.51$ 30315EAA4 FRESB - MFM 07/24/20 08/26/24 0.83%1,393.03$ 1,399.84$ 606.38$ 1,999.41$ 30318NAA1 FRESB - 2021-SB83 02/19/21 08/26/24 0.51%2,149.27$ 2,159.36$ 629.50$ 2,778.77$ 30321CAQ5 FRESB - 2021-SB88 A5F 07/23/21 08/26/24 0.75%2,849.42$ 2,862.80$ 1,217.16$ 4,066.58$ 30324QAC2 FRESB - 2022-SB94 01/21/22 08/26/24 1.50%6,927.87$ 6,959.91$ 5,371.11$ 12,298.98$ 30329MAA0 FRESB - 2022-SB103 A5F 10/28/22 08/26/24 4.99%1,994.00$ 1,786.40$ 2,543.37$ 4,537.37$ 30329QAA1 FRESB - 2022-SB104 A5F 11/18/22 08/26/24 2.60%50,551.87$ 46,145.67$ 8,394.99$ 58,946.86$ 30332EAA3 FRESB - 2023-SB107 A5F 07/20/23 08/26/24 4.09%864.30$ 845.51$ 10,205.25$ 11,069.55$ 30333AAA0 FRESB - 2023-SB108 A5F 08/17/23 08/26/24 4.79%1,719.62$ 1,682.56$ 12,357.06$ 14,076.68$ 30334CAA5 FRESB - 2023-SB111 A5F 11/16/23 08/26/24 5.28%145.73$ 142.47$ 10,788.76$ 10,934.49$ 30336BAA5 FRESB - 2024-SB113 04/25/24 08/26/24 5.22%97.36$ 96.55$ 14,640.28$ 14,737.64$ 30337MAA0 FRESB - 2024-SB114 06/27/24 08/26/24 4.99%23,895.02$ 24,013.35$ 12,473.32$ 36,368.34$ 3132XGRH1 FRESB - WN2287 01/27/23 08/26/24 3.93%3,663.42$ 3,630.22$ 9,435.11$ 13,098.53$ 3137BL6J2 FHLM - FHMS K048 A1 07/22/22 08/26/24 3.43% 210,236.65$ 208,134.28$ 471.11$ 210,707.76$ 3137BM7B6 FHMS - K051 A1 06/30/22 08/26/24 3.30% 1,602,474.97$ 1,589,955.63$ 3,855.29$ 1,606,330.26$ 3137BP4J5 FHLM - FHMS K1R1 08/20/21 08/26/24 0.41%43,310.79$ 45,361.28$ 1,888.04$ 45,198.83$ 3137F32A1 FHLM - KHG1 A1 04/15/20 08/26/24 0.99%86,558.85$ 92,780.27$ 983.94$ 87,542.79$ 3137FBTA4 FHLM - FHMS K728 03/10/21 08/26/24 3.06% 1,365,094.80$ 1,472,436.07$ 3,485.54$ 1,368,580.34$ 3138L7D60 FHLM - AM6424 12/16/22 08/26/24 4.21%2,580.32$ 2,498.07$ 2,759.12$ 5,339.44$ 35564CAA5 FHLM - SLST 2018 01/11/24 08/26/24 5.37%14,862.42$ 14,263.86$ 2,812.57$ 17,674.99$ 30311SAA7 FRESB - 2022-SB97 A5F 04/22/22 09/25/24 2.80%5,013.29$ 4,814.60$ 4,879.01$ 9,892.30$ 30315EAA4 FRESB - MFM 07/24/20 09/25/24 0.83%1,396.95$ 1,403.78$ 605.42$ 2,002.37$ 30318NAA1 FRESB - 2021-SB83 02/19/21 09/25/24 0.51%2,155.21$ 2,165.33$ 628.37$ 2,783.58$ 30321CAQ5 FRESB - 2021-SB88 A5F 07/23/21 09/25/24 0.75%2,857.74$ 2,871.16$ 1,215.07$ 4,072.81$ 30324QAC2 FRESB - 2022-SB94 01/21/22 09/25/24 1.50%6,946.86$ 6,978.99$ 5,361.64$ 12,308.50$ 30329MAA0 FRESB - 2022-SB103 A5F 10/28/22 09/25/24 4.99%2,000.39$ 1,792.12$ 2,539.92$ 4,540.31$ 30329QAA1 FRESB - 2022-SB104 A5F 11/18/22 09/25/24 2.60%4,832.93$ 4,411.68$ 8,285.46$ 13,118.39$ 30332EAA3 FRESB - 2023-SB107 A5F 07/20/23 09/25/24 4.09%868.31$ 849.43$ 10,202.30$ 11,070.61$ 30333AAA0 FRESB - 2023-SB108 A5F 08/17/23 09/25/24 4.79%1,727.48$ 1,690.25$ 12,350.97$ 14,078.45$ 30334CAA5 FRESB - 2023-SB111 A5F 11/16/23 09/25/24 5.28%1,085.48$ 1,061.18$ 10,788.19$ 11,873.67$ 30336BAA5 FRESB - 2024-SB113 04/25/24 09/25/24 5.22%97.88$ 67.06$ 14,369.87$ 14,467.75$ 30337MAA0 FRESB - 2024-SB114 06/27/24 09/25/24 4.99%303.62$ 305.12$ 12,373.96$ 12,677.58$ 3132XGRH1 FRESB - WN2287 01/27/23 09/25/24 3.93%3,677.76$ 3,644.43$ 9,423.47$ 13,101.23$ 3137BP4J5 FHLM - FHMS K1R1 08/20/21 09/25/24 0.41%43,471.56$ 45,529.67$ 1,799.75$ 45,271.31$ 3137F32A1 FHLM - KHG1 A1 04/15/20 09/25/24 0.99%86,839.08$ 93,080.64$ 742.94$ 87,582.02$ 3138L7D60 FHLM - AM6424 12/16/22 09/25/24 4.21%2,589.09$ 2,506.56$ 2,751.70$ 5,340.79$ 3140LJJC1 FNMA - BS7458 01/17/24 09/25/24 4.78% 2,000,000.00$ 2,003,593.75$ 12,174.50$ 2,012,174.50$ 35564CAA5 FHLM - SLST 2018 01/11/24 09/25/24 5.37%14,056.06$ 13,489.97$ 2,769.22$ 16,825.28$ Municipal bonds 005158XL9 Ada & Canyon County School District 06/17/21 08/15/24 5.00% 1,500,000.00$ 1,500,000.00$ 237,083.33$ 1,737,083.33$ Maturities cont. Nov. 21, 2024 Item #1 Page 64 of 86 City of Carlsbad investment portfolio Maturities, calls and purchases this quarter Sept. 30, 2024 CUSIP Issuer Settled Maturity Yield Par value Book value Interest Total Supranational securities 459056HV2 International Bank for Recon & Devel 08/29/19 08/28/24 1.50% 2,000,000.00$ 2,000,000.00$ 149,916.67$ 2,149,916.67$ U.S. Treasury 9128286Z8 US Treasury 03/01/21 07/01/24 3.70% 2,500,000.00$ 2,614,215.00$ 145,873.62$ 2,645,873.62$ 91282CCL3 US Treasury 10/21/22 07/15/24 0.38% 3,000,000.00$ 2,789,648.44$ 19,504.08$ 3,019,504.08$ 912828YH7 US Treasury 01/14/21 09/30/24 1.50% 2,000,000.00$ 2,000,000.00$ 111,263.74$ 2,111,263.74$ 9128282Y5 US Treasury 10/21/22 09/30/24 2.13% 2,000,000.00$ 2,000,000.00$ 82,548.08$ 2,082,548.08$ 52,107,808.58$ 52,173,854.61$ 3,137,934.50$ 55,245,743.08$ Maturities Total Maturities cont. Nov. 21, 2024 Item #1 Page 65 of 86 City of Carlsbad investment portfolio Maturities, calls and purchases this quarter Sept. 30, 2024 CUSIP Issuer Settled Call Date Yield Par value Book value Interest Total Federal agency 3133EP3D5 Federal Farm Credit Banks 05/02/24 08/09/24 5.52% 2,500,000.00$ 2,497,000.00$ 29,516.67$ 2,529,516.67$ 3134H1SK0 Federal Home Loan Mortgage Corp 02/09/24 08/09/24 4.38% 2,500,000.00$ 2,483,575.00$ 54,657.50$ 2,554,657.50$ 3133ENT26 Federal Farm Credit Banks 10/12/22 08/13/24 5.30% 3,000,000.00$ 3,000,000.00$ 50,350.00$ 3,050,350.00$ 3134H1BP7 Federal Home Loan Mortgage Corp 09/11/23 09/11/24 5.05% 3,000,000.00$ 2,974,500.00$ 151,500.00$ 3,151,500.00$ 3134H1BP7 Federal Home Loan Mortgage Corp 10/13/23 09/11/24 5.05% 1,000,000.00$ 995,750.00$ 46,011.11$ 1,046,011.11$ Municipal bonds 695802NN4 Pajaro Valley Unified School District 12/07/23 08/01/24 4.29% 185,000.00$ 180,837.50$ 25,764.00$ 210,764.00$ Calls Total 12,185,000.00$ 12,131,662.50$ 357,799.28$ 12,542,799.28$ Calls Nov. 21, 2024 Item #1 Page 66 of 86 City of Carlsbad investment portfolio Maturities, calls and purchases this quarter Sept. 30, 2024 CUSIP Issuer Settled Maturity Yield First Coupon Par value Book value Certificate of deposit 06652CHX2 Bankwest Inc 07/31/24 07/31/29 4.90%08/31/24 248,000.00$ 248,000.00$ 47804GLM3 John Marshall Bank 09/20/24 03/22/27 3.80%10/20/24 249,000.00$ 249,000.00$ 919853NZ0 Valley National Bank 09/17/24 09/17/26 3.95%03/17/25 245,000.00$ 245,000.00$ Corporate notes 64952WFG3 New York Life Global 07/16/24 06/06/29 4.72%12/06/24 3,000,000.00$ 3,036,390.00$ 17325FBK3 Citibank 08/20/24 08/06/29 4.38%02/06/25 2,000,000.00$ 2,040,000.00$ 48130CSE6 JPMorgan Chase 09/13/24 09/13/29 4.13%03/13/25 2,000,000.00$ 2,000,000.00$ 48130CSW6 JPMorgan Chase 09/20/24 08/20/29 4.00%03/20/24 2,000,000.00$ 2,000,000.00$ 742718EV7 Proctor & Gamble 09/11/24 08/11/27 3.74%02/11/25 2,000,000.00$ 1,951,140.00$ Federal agency 3134H16A6 Federal Home Loan Mortgage Corp 07/30/24 07/30/29 5.11%01/30/25 2,000,000.00$ 1,990,300.00$ 3133ERLM1 Federal Farm Credit Bank 07/24/24 07/24/28 5.10%01/24/25 2,500,000.00$ 2,500,000.00$ 3134H15T6 Federal Home Loan Mortgage Corp 07/16/24 07/16/29 5.07%01/16/25 2,500,000.00$ 2,491,875.00$ 3134HAAN3 Federal Home Loan Mortgage Corp 07/30/24 07/30/29 4.64%01/30/25 3,000,000.00$ 2,965,500.00$ 3133ENUR9 Federal Farm Credit Bank 07/22/24 04/18/29 4.29%10/18/24 2,000,000.00$ 1,950,000.00$ 3134HAEB5 Federal Home Loan Mortgage Corp 08/14/24 08/14/29 4.25%02/14/25 2,500,000.00$ 2,472,000.00$ 3133ERPK1 Federal Farm Credit Banks 08/14/24 08/14/28 4.67%02/14/24 2,500,000.00$ 2,500,000.00$ 3133ERNT4 Federal Farm Credit Banks 08/14/24 08/12/27 4.97%02/12/25 2,500,000.00$ 2,498,750.00$ 3134HAGR8 Federal Home Loan Mortgage Corp 08/28/24 08/28/28 4.16%02/28/25 2,500,000.00$ 2,485,000.00$ 3130B2PT6 Federal Home Loan Bank 09/13/24 09/12/29 4.20%03/12/25 2,500,000.00$ 2,500,000.00$ 3130B2QD0 Federal Home Loan Bank 09/13/24 09/10/27 4.07%03/10/25 1,500,000.00$ 1,500,000.00$ 3133EKKA3 Federal Farm Credit Bank 09/30/24 05/02/29 3.65%11/02/24 2,500,000.00$ 2,447,500.00$ Mortgage passthrough securities 3132XFQN1 FHLMC WN1360 07/02/24 04/01/29 4.57%08/25/24 2,000,000.00$ 1,950,000.00$ 3132XG3G9 FHLMC WN3598 07/23/24 06/01/29 4.59%08/25/24 2,000,000.00$ 1,985,000.00$ 3140LGDL3 FNMA BS5506 08/13/24 06/01/29 4.13%09/25/24 2,000,000.00$ 1,912,500.00$ 3140HURA6 FNMA BL3180 08/27/24 07/01/29 4.01%09/25/24 2,500,000.00$ 2,381,250.00$ Municipal bonds 13063DGC6 State of California 07/23/24 04/01/28 4.47%10/01/24 3,000,000.00$ 2,901,480.00$ 79623PSA4 City of San Antonio TX 09/18/24 02/01/27 4.16%02/01/25 500,000.00$ 500,000.00$ 91412HFG3 University of California 09/11/24 07/01/29 3.64%01/01/25 1,000,000.00$ 987,240.00$ U.S. Treasury 91282CHQ7 US Treasury 07/18/24 07/31/28 4.12%07/31/24 2,000,000.00$ 2,000,454.00$ 91282CLB5 US Treasury 08/27/24 07/31/26 3.87%01/31/25 2,500,000.00$ 2,523,046.88$ 9128283F5 US Treasury 09/11/24 11/15/27 3.44%11/15/24 2,000,000.00$ 1,928,750.00$ Purchases total 59,742,000.00$ 59,140,175.88$ Purchases Nov. 21, 2024 Item #1 Page 67 of 86 City of Carlsbad investment portfolio Fund equity in pooled investments Exhibit 6 Cash balance by fund:Cash balance by fund: General 133,499,363.67$ Special revenue 36,274,244.91$ Capital projects: Infrastructure replacement 117,414,092.28$ Special districts 110,998,865.57$ General capital construction 63,281,948.25$ Public facilities fees 34,352,059.43$ Traffic impact fees 17,761,354.11$ Gas tax 19,362,385.56$ Park development 16,275,096.71$ Technology investment 19,325,901.58$ TransNet taxes 4,505,676.54$ Drainage fees 5,196,457.51$ Total capital projects 408,473,837.54$ Enterprise: Carlsbad Municipal Water District 140,864,347.27$ Sewer fund 50,290,407.02$ Storm water 4,557,882.51$ Solid waste 4,027,780.09$ Golf course 7,441,013.64$ Total enterprise 207,181,430.53$ Internal service 83,988,264.29$ Fiduciary 2,495,227.68$ Total general ledger balance *871,912,369.00$ Reconciling adjustments¹6,308,851.00$ Total treasurer's investment portfolio at amortized cost 878,221,220.05$ *Figures based on best estimate at the time report run on 10/11/2024. ¹The reconciling adjustments consist of differences between the general ledger which is prepared on an accrual basis and the treasurer's report which is prepared on a cash basis. Sept. 30, 2024 Nov. 21, 2024 Item #1 Page 68 of 86 City of Carlsbad investment portfolio Security ratings and outlooks Exhibit 7 Issuer Moody's S&P Fitch Outlook Corporate notes Apple Inc AAA AA+Stable/Stable/ Bank of America A1 A- AA-Positive/ /Stable Bank of Montreal A2 N/A AA-Stable Bank of New York Mellon Corp A1 A AA-Neg/Stable/Stable BLC Community Bank A2 N/A AA-Stable Citibank AA3 A+ A+Stable CME Group Inc AA3 AA- AA-Stable/Stable/Stable Colgate-Palmolive AA3 A+Stable/Negative Flordia Power and Light Co AA2 A+ AA-Stable/Stable/Stable Johnson & Johnson AAA AAA Stable/Neg JP Morgan Chase Bank A1 A- AA-Stable/Stable/Stable MassMutual Global Funding AA3 AA+ AA+ /Stable/ Merck & Co*A1 A+Positive/Stable/ Met Life Global AA3 AA- AA- /Stable/ Microsoft AAA AAA Stable/Stable/ New York Life AAA AA+ AAA Stable Nike Inc.A1 AA-Stable/Stable/ Novartis Capital Corp AA3 AA- AA-Positive/Stable Pacific Life Global AA3 AA- AA-Stable Procter & Gamble AA3 AA-Stable/Stable/ Roche Holdings Inc AA2 AA AA Stable Royal Bank of Canada A1 A AA-Stable/Stable/Stable Seattle Children's Hospital AA2 N/A AA Stable Visa Inc.AA3 AA-Stable/Stable/ Wal-Mart AA2 AA AA Stable/Stable/Stable Mortgage passthrough securities FAMCA AAA AA+Stable FHLMC AAA AA+Stable FNMA AAA AA+Stable FRESB AAA AA+Stable Municipal Bonds Alief Independent School Dist AAA AAA Amarillo Independent SD AAA AAA Stable Anaheim California N/A AA+ AA+ Bay Area Water & Utl AA3 AA- California State University AA2 AA- California, State AA2 AA- AA Stable/positive/stable Connecticut, State AA3 AA- Ratings of corporate notes must be AA or better by one and A or better by another of the three: Moody's, S&P, or Fitch. Ratings of mortgage passthrough securities must be AA or better by one of the three: Moody's, S&P, or Fitch. Sept. 30, 2024 All investments were in compliance with the city's investment policy at the time of purchase. Nov. 21, 2024 Item #1 Page 69 of 86 City of Carlsbad investment portfolio Security ratings and outlooks Issuer Moody's S&P Fitch Outlook Sept. 30, 2024 All investments were in compliance with the city's investment policy at the time of purchase. Contra Costa Cmty College AA1 AA+ Fremont CA Unified AA2 AA-Stable Hawaii, State AA2 AA+ AA Stable Honolulu Wastewater AA3 N/A AA-Stable Los Angeles Cmty Clg Dist AAA AA+ Los Angeles Unified SD AA2 AA-Stable Los Angeles Water & Power AA2 AA-Stable Marion County SD AA1 N/A AA+Stable Mason/Kitsap Cty SD AAA N/A AA+Stable Miami Beach FL AA2 AA+ Minnesota State AAA AAA AAA Stable Multnomah County OR AAA AAA Stable Oregon State Dept Admin Serv AA2 AA Oregon State Dept of Transp AA1 AAA AA+Stable Pajaro Valley Unified SD AA3 A+ Portland Cmty College AA1 N/A AA+Stable Riverside California N/A AA AA-Stable San Antonio, Texas AAA AAA San Bernardino CCD AA1 AA Stable San Diego Cmty College AA1 AAA Stable San Diego Public Finance AA2 N/A AA Stable San Francisco City Pub Utl¹N/A N/A San Jose Evergreen CC AA1 AA+Stable San Jose Redevelopment N/A AA AA+Stable San Ramon Valley USD AA1 AA+ Santa Barbara CA USD AA1 AA Stable Santa Monica Cmty College AA2 AA+ Solano County Cmty College AA2 AA Stable Southern CA Public Power N/A AA- AA-Stable Texas Tech University AA1 AA+Stable University of California AA2 AA AA Stable Corporate notes Moody's S&P Fitch Maturity date Purchased Book value Merck & Co A1 A+ N/R 02/24/26 04/12/21 1,495,665$ 1,495,665$ ¹San Francisco City Public Utility refunded and is collateralized by State and Local Government Series Securities (SLGS). The security is backed by the US Treasury and is therefore not rated. *Investments with subsequent changes in credit rating The city's Investment Policy allows the City Treasurer to determine the course of action that would correct exceptions to the policy. The current exception is paying interest at the required times. The principal of the investment is considered secure. It is the intent of the City Treasurer to hold the asset in the portfolio until maturity unless events indicate they shoud be sold. Ratings of municipal bonds must be AA or better by one and A or better by another of the three: Moody's, S&P, or Fitch. Nov. 21, 2024 Item #1 Page 70 of 86 City of Carlsbad investment portfolio Portfolio allocation at amortized cost by issuer Exhibit 8 Issuer Amortized cost Portfolio allocation Corporate notes Apple Inc.1,509,181.32$ 0.17% Bank of America 10,996,335.21$ 1.25% Bank of Montreal 2,000,000.00$ 0.23% Bank of New York Mellon 3,055,528.45$ 0.35% BLC Community Bank (Bank of Montreal)5,950,000.00$ 0.68% Citibank 2,039,081.75$ 0.23% CME Group 2,797,664.94$ 0.32% Colgate-Palmolive 1,968,643.41$ 0.22% Florida Power & Light 3,699,105.65$ 0.42% Johnson & Johnson 17,188,083.34$ 1.96% JP Morgan Chase Bank 18,800,000.00$ 2.14% Massmutual Global 3,762,417.33$ 0.43% Merck & Co 1,495,908.82$ 0.17% Met Life Global 5,113,237.38$ 0.58% Microsoft 4,108,471.94$ 0.47% New York Life 6,425,184.40$ 0.73% Nike Inc.2,892,804.95$ 0.33% Novartis Capital Corp 3,315,315.13$ 0.38% Pacific Life Global 1,005,564.20$ 0.11% Procter & Gamble 12,815,346.10$ 1.46% Roche Holdings Inc 4,837,754.19$ 0.55% Royal Bank of Canada 6,997,922.04$ 0.80% Seattle Children's Hospital 899,377.70$ 0.10% Visa Inc.1,281,153.92$ 0.15% Wal-Mart 2,002,835.76$ 0.23% Mortgage passthrough securities FAMCA 3,486,334.88$ 0.40% FHLMC 26,170,244.82$ 2.98% FNMA 17,981,295.30$ 2.05% FRESB 30,559,067.33$ 3.48% Federal agencies Federal Agricultural Mortgage Corp.23,148,333.64$ 2.64% Federal Farm Credit Bank 76,702,274.74$ 8.73% Federal Home Loan Bank 142,547,320.02$ 16.23% Federal Home Loan Mortgage Corp.62,144,205.27$ 7.08% Federal National Mortgage Assoc.35,898,627.07$ 4.09% Sept. 30, 2024 Nov. 21, 2024 Item #1 Page 71 of 86 City of Carlsbad investment portfolio Portfolio allocation at amortized cost by issuer Issuer Amortized cost Portfolio allocation Sept. 30, 2024 Municipal Bonds Alief Independent SD 1,972,223.19$ 0.22% Amarillo Independent SD 1,796,412.74$ 0.20% Anaheim California 1,531,259.59$ 0.17% Bay Area Water 1,203,605.00$ 0.14% California State University 2,249,115.97$ 0.26% California, State 18,305,500.33$ 2.08% Connecticut, State 2,853,887.65$ 0.32% Contra Costa Cmty College 934,539.15$ 0.11% Fremont CA Unified 1,862,976.87$ 0.21% Hawaii, State 8,017,131.32$ 0.91% Honolulu Wastewater 1,426,511.54$ 0.16% Los Angeles Cmty College 2,059,029.42$ 0.23% Los Angeles Unified SD 3,655,269.80$ 0.42% Los Angeles Water & Power 1,553,110.47$ 0.18% Marion County SD 1,881,976.08$ 0.21% Mason/Kitsap Cty SD 640,000.00$ 0.07% Miami Beach FL 1,396,920.00$ 0.16% Minnesota State 1,215,000.00$ 0.14% Multnomah County OR 2,000,975.31$ 0.23% Oregon State Dept of Admin Services 958,761.27$ 0.11% Oregon State Dept of Transp 3,262,951.41$ 0.37% Pajaro Valley USD 996,173.39$ 0.11% Portland CC 1,101,065.60$ 0.13% Riverside California 1,258,330.87$ 0.14% San Antonio, Texas 500,000.00$ 0.06% San Bernardino CCD 1,390,492.32$ 0.16% San Diego Cmty College 5,161,615.78$ 0.59% San Diego Public Finance 1,892,707.69$ 0.22% San Francisco City Pub Utl 1,000,102.87$ 0.11% San Jose Evergreen CC 768,382.93$ 0.09% San Jose Redevelpment 4,033,464.42$ 0.46% San Ramon Valley SD 892,729.66$ 0.10% Santa Barbara CA USD 951,822.20$ 0.11% Santa Monica Cmty College 504,443.31$ 0.06% Solano County Cmty College 1,810,053.04$ 0.21% Southern CA Public Power 2,457,345.25$ 0.28% Texas Tech University 5,753,648.38$ 0.66% University of California 10,438,885.95$ 1.19% Nov. 21, 2024 Item #1 Page 72 of 86 City of Carlsbad investment portfolio Portfolio allocation at amortized cost by issuer Issuer Amortized cost Portfolio allocation Sept. 30, 2024 Other Supranational 19,883,947.60$ 2.26% US Treasury 51,860,349.22$ 5.91% Certificate of deposits 22,225,321.22$ 2.53% Cash 136,968,560.24$ 15.60% Total portfolio amortized cost 878,221,220.05$ 100.00% Policy: Corporate notes, non-agency mortgage passthrough securities, municpal bonds, and supranational securities may have no more than 5% invested with a single issuer. Certificates of deposit may have no more than 10% invested with any single issuer. Federal agencies, U.S. Treasury and agency-backed mortgage passthrough securities do not have issuer limitations. Nov. 21, 2024 Item #1 Page 73 of 86 City of Carlsbad investment portfolio Investment detail Exhibit 9 CUSIP Settlement Maturity Issuer Par Invested Yield Interest Return 31422XMV1 10/04/21 10/04/24 Federal Agricultural Mortgage Corp 2,000,000.00$ 2,000,000.00$ 0.500% 30,000.00$ 2,030,000.00$ 3133EK3B0 11/25/20 10/16/24 Federal Farm Credit Banks 1,400,000.00$ 1,466,052.00$ 0.280% 81,725.00$ 1,481,725.00$ 31422BPG9 11/15/19 11/01/24 Federal Agricultural Mortgage Corp 2,000,000.00$ 1,999,720.00$ 1.793% 177,607.78$ 2,177,607.78$ 3133EC2D5 07/10/20 11/13/24 Federal Farm Credit Banks 1,621,000.00$ 1,751,360.82$ 0.390% 159,055.22$ 1,780,055.22$ 3135G06E8 11/18/20 11/18/24 Federal National Mortgage Assoc 2,000,000.00$ 2,000,000.00$ 0.420% 33,600.00$ 2,033,600.00$ 3130APVZ5 12/02/21 12/02/24 Federal Home Loan Banks 1,900,000.00$ 1,900,000.00$ 1.050% 59,850.00$ 1,959,850.00$ 3130AQ5L3 12/16/21 12/16/24 Federal Home Loan Banks 2,000,000.00$ 2,000,000.00$ 0.500% 70,000.00$ 2,070,000.00$ 3130AKLQ7 12/30/20 12/30/24 Federal Home Loan Banks 4,000,000.00$ 4,000,000.00$ 0.310% 49,600.00$ 4,049,600.00$ 3134GXYX6 07/07/22 12/30/24 Federal Home Loan Mortgage Corp 2,500,000.00$ 2,500,000.00$ 3.348% 207,746.53$ 2,707,746.53$ 3130AJSF7 05/27/21 01/08/25 Federal Home Loan Banks 2,000,000.00$ 2,000,000.00$ 0.648% 46,980.56$ 2,046,980.56$ 3130ASLP2 07/21/22 01/21/25 Federal Home Loan Banks 2,000,000.00$ 2,000,000.00$ 3.500% 175,000.00$ 2,175,000.00$ 3130AN7L8 07/28/21 01/28/25 Federal Home Loan Banks 1,750,000.00$ 1,750,000.00$ 0.520% 31,850.00$ 1,781,850.00$ 3133EMPV8 02/03/21 02/03/25 Federal Farm Credit Banks 2,000,000.00$ 2,000,000.00$ 0.320% 25,600.00$ 2,025,600.00$ 3134GWMN3 08/27/20 02/27/25 Federal Home Loan Mortgage Corp 2,500,000.00$ 2,500,000.00$ 0.520% 58,500.00$ 2,558,500.00$ 3130A4CH3 04/09/20 03/14/25 Federal Home Loan Banks 3,000,000.00$ 3,231,300.00$ 0.778% 351,302.08$ 3,351,302.08$ 3130A4CH3 02/18/21 03/14/25 Federal Home Loan Banks 1,500,000.00$ 1,620,240.00$ 0.389% 145,072.92$ 1,645,072.92$ 3134GWP26 06/07/21 03/28/25 Federal Home Loan Mortgage Corp 1,000,000.00$ 998,500.00$ 0.540% 19,041.67$ 1,019,041.67$ 3130AMRJ3 06/28/21 03/28/25 Federal Home Loan Banks 3,120,000.00$ 3,122,340.00$ 0.500% 70,200.00$ 3,190,200.00$ 3133EMWH1 04/21/21 04/21/25 Federal Farm Credit Banks 1,500,000.00$ 1,500,000.00$ 0.710% 42,600.00$ 1,542,600.00$ 3130APA39 09/30/22 04/21/25 Federal Home Loan Banks 1,055,000.00$ 963,215.00$ 4.287% 17,813.67$ 1,072,813.67$ 3135GAA43 12/23/20 04/23/25 Federal National Mortgage Assoc 3,000,000.00$ 3,000,000.00$ 0.500% 65,000.00$ 3,065,000.00$ 3134GWYW0 10/30/20 04/30/25 Federal Home Loan Mortgage Corp 2,000,000.00$ 2,000,000.00$ 0.500% 45,111.12$ 2,045,111.12$ 3133ELC28 06/03/20 05/27/25 Federal Farm Credit Banks 3,500,000.00$ 3,499,300.00$ 0.734% 127,324.17$ 3,627,324.17$ 3134GVB31 06/03/20 05/28/25 Federal Home Loan Mortgage Corp 2,000,000.00$ 2,000,000.00$ 0.750% 74,791.66$ 2,074,791.66$ 3135GA5S6 12/16/20 06/16/25 Federal National Mortgage Assoc 2,000,000.00$ 2,000,000.00$ 0.450% 40,500.00$ 2,040,500.00$ 3135G04Z3 01/11/21 06/17/25 Federal National Mortgage Assoc 3,000,000.00$ 3,014,640.00$ 0.389% 66,500.00$ 3,066,500.00$ 3135G04Z3 05/20/21 06/17/25 Federal National Mortgage Assoc 2,000,000.00$ 1,991,940.00$ 0.600% 40,750.00$ 2,040,750.00$ 3136G4XZ1 07/01/20 06/30/25 Federal National Mortgage Assoc 2,500,000.00$ 2,500,000.00$ 0.740% 92,448.61$ 2,592,448.61$ 3133EMMP4 01/15/21 07/14/25 Federal Farm Credit Banks 2,225,000.00$ 2,218,325.00$ 0.457% 39,024.65$ 2,264,024.65$ 3137EAEU9 09/14/20 07/21/25 Federal Home Loan Mortgage Corp 1,500,000.00$ 1,499,625.00$ 0.380% 27,296.87$ 1,527,296.87$ 3133ELZ80 07/29/20 07/29/25 Federal Farm Credit Banks 3,000,000.00$ 3,000,000.00$ 0.580% 87,000.00$ 3,087,000.00$ 3133EMFC1 10/29/20 07/29/25 Federal Farm Credit Banks 3,000,000.00$ 3,000,000.00$ 0.530% 75,525.00$ 3,075,525.00$ 3134GWXM3 10/01/20 07/30/25 Federal Home Loan Mortgage Corp 2,000,000.00$ 2,000,000.00$ 0.510% 49,271.67$ 2,049,271.67$ 3133EL3P7 08/12/20 08/12/25 Federal Farm Credit Banks 3,500,000.00$ 3,500,000.00$ 0.530% 92,750.00$ 3,592,750.00$ 3136G4C43 08/14/20 08/14/25 Federal National Mortgage Assoc 2,000,000.00$ 2,000,000.00$ 0.650% 65,000.00$ 2,065,000.00$ 3136G4H71 11/06/20 08/18/25 Federal National Mortgage Assoc 2,000,000.00$ 1,999,000.00$ 0.500% 47,833.33$ 2,047,833.33$ 3136G4K77 08/21/20 08/21/25 Federal National Mortgage Assoc 2,000,000.00$ 2,000,000.00$ 0.450% 45,000.00$ 2,045,000.00$ 3136G4X24 08/31/20 08/29/25 Federal National Mortgage Assoc 3,000,000.00$ 3,000,000.00$ 0.600% 89,900.00$ 3,089,900.00$ 3137EAEX3 10/22/20 09/23/25 Federal Home Loan Mortgage Corp 4,000,000.00$ 3,989,280.00$ 0.430% 73,791.67$ 4,073,791.67$ 3137EAEX3 12/28/20 09/23/25 Federal Home Loan Mortgage Corp 3,000,000.00$ 2,996,460.00$ 0.400% 53,281.25$ 3,053,281.25$ 3133EMCP5 10/14/20 10/14/25 Federal Farm Credit Banks 1,500,000.00$ 1,500,000.00$ 0.520% 39,000.00$ 1,539,000.00$ 3132X0CK5 11/01/22 10/14/25 Federal Agricultural Mortgage Corp 1,650,000.00$ 1,645,264.50$ 2.153% 184,415.59$ 1,834,415.59$ 3134GWXX9 10/15/20 10/15/25 Federal Home Loan Mortgage Corp 3,000,000.00$ 3,000,000.00$ 0.550% 82,500.00$ 3,082,500.00$ 3135G06A6 12/11/20 10/20/25 Federal National Mortgage Assoc 2,410,000.00$ 2,408,795.00$ 0.590% 67,909.78$ 2,477,909.78$ 3133EMDZ2 12/09/20 10/21/25 Federal Farm Credit Banks 3,000,000.00$ 2,994,300.00$ 0.560% 75,920.00$ 3,075,920.00$ 3133EMFR8 11/03/20 11/03/25 Federal Farm Credit Banks 4,500,000.00$ 4,500,000.00$ 0.540% 121,500.00$ 4,621,500.00$ 3135G06G3 12/29/20 11/07/25 Federal National Mortgage Assoc 3,000,000.00$ 3,012,960.00$ 0.410% 72,833.34$ 3,072,833.34$ 3130ALFF6 03/10/21 12/10/25 Federal Home Loan Banks 1,750,000.00$ 1,750,000.00$ 0.650% 54,031.25$ 1,804,031.25$ 31422XAT9 03/02/21 12/15/25 Federal Agricultural Mortgage Corp 3,000,000.00$ 3,000,000.00$ 0.520% 74,663.33$ 3,074,663.33$ 3134GXFV1 12/17/20 12/17/25 Federal Home Loan Mortgage Corp 5,000,000.00$ 5,000,000.00$ 0.625% 156,250.00$ 5,156,250.00$ 3134GXHD9 03/24/21 12/23/25 Federal Home Loan Mortgage Corp 1,500,000.00$ 1,489,500.00$ 0.700% 49,845.83$ 1,549,845.83$ 3135G06Q1 12/30/20 12/30/25 Federal National Mortgage Assoc 2,500,000.00$ 2,504,125.00$ 0.474% 80,000.00$ 2,580,000.00$ 3130AKMZ6 01/14/21 01/14/26 Federal Home Loan Banks 4,000,000.00$ 4,000,000.00$ 0.510% 102,000.00$ 4,102,000.00$ 3130AKMZ6 01/14/21 01/14/26 Federal Home Loan Banks 1,750,000.00$ 1,747,375.00$ 0.540% 44,625.00$ 1,794,625.00$ 31422B6K1 01/25/21 01/15/26 Federal Agricultural Mortgage Corp 1,500,000.00$ 1,500,000.00$ 0.480% 35,800.00$ 1,535,800.00$ 3130AKN69 01/28/21 01/28/26 Federal Home Loan Banks 3,000,000.00$ 3,000,000.00$ 0.500% 75,000.00$ 3,075,000.00$ Sept. 30, 2024 Federal investments Nov. 21, 2024 Item #1 Page 74 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Invested Yield Interest Return Sept. 30, 2024 3130AKRF5 02/09/21 02/09/26 Federal Home Loan Banks 2,050,000.00$ 2,050,000.00$ 0.350% 14,575.00$ 2,064,575.00$ 3130AKVR4 02/12/21 02/12/26 Federal Home Loan Banks 2,000,000.00$ 2,000,000.00$ 0.550% 55,000.00$ 2,055,000.00$ 3130AKVV5 02/18/21 02/18/26 Federal Home Loan Banks 4,000,000.00$ 4,000,000.00$ 0.500% 100,000.00$ 4,100,000.00$ 3133EMSH6 03/03/21 03/03/26 Federal Farm Credit Banks 674,000.00$ 674,000.00$ 0.790% 26,623.00$ 700,623.00$ 3133EMSU7 03/09/21 03/09/26 Federal Farm Credit Banks 3,500,000.00$ 3,500,000.00$ 0.800% 140,000.00$ 3,640,000.00$ 3130ALH56 03/18/21 03/18/26 Federal Home Loan Banks 3,000,000.00$ 2,997,000.00$ 0.750% 112,500.00$ 3,112,500.00$ 3130ALUQ5 03/30/21 03/30/26 Federal Home Loan Banks 1,500,000.00$ 1,500,000.00$ 0.300% 22,500.00$ 1,522,500.00$ 31422XCX8 04/20/21 04/20/26 Federal Agricultural Mortgage Corp 2,000,000.00$ 2,000,000.00$ 1.000% 100,000.00$ 2,100,000.00$ 3130ALVB7 04/21/21 04/21/26 Federal Home Loan Banks 2,000,000.00$ 1,998,500.00$ 0.915% 90,000.00$ 2,090,000.00$ 3130AM4L3 04/29/21 04/29/26 Federal Home Loan Banks 4,000,000.00$ 4,000,000.00$ 0.500% 100,000.00$ 4,100,000.00$ 31422XFP2 05/04/21 05/04/26 Federal Agricultural Mortgage Corp 2,500,000.00$ 2,500,000.00$ 0.950% 118,750.00$ 2,618,750.00$ 3130AMCL4 09/30/22 05/19/26 Federal Home Loan Banks 1,100,000.00$ 979,726.00$ 4.300% 40,797.17$ 1,140,797.17$ 3130AMHN5 05/26/21 05/26/26 Federal Home Loan Banks 2,500,000.00$ 2,500,000.00$ 0.500% 112,500.00$ 2,612,500.00$ 31422XGL0 05/27/21 05/27/26 Federal Agricultural Mortgage Corp 2,000,000.00$ 2,000,000.00$ 0.920% 92,000.00$ 2,092,000.00$ 3130AMQK1 06/16/21 06/16/26 Federal Home Loan Banks 2,000,000.00$ 2,000,000.00$ 0.500% 94,000.00$ 2,094,000.00$ 3130AMQK1 06/16/21 06/16/26 Federal Home Loan Banks 2,500,000.00$ 2,500,000.00$ 0.500% 117,500.00$ 2,617,500.00$ 3133EML67 06/22/21 06/22/26 Federal Farm Credit Banks 2,000,000.00$ 1,993,160.00$ 0.870% 80,000.00$ 2,080,000.00$ 3130AMTW2 06/30/21 06/30/26 Federal Home Loan Banks 4,500,000.00$ 4,500,000.00$ 0.500% 186,750.00$ 4,686,750.00$ 3130AMWN8 06/30/21 06/30/26 Federal Home Loan Banks 2,000,000.00$ 2,000,000.00$ 0.550% 88,000.00$ 2,088,000.00$ 3130ANCH1 07/27/21 07/27/26 Federal Home Loan Banks 2,500,000.00$ 2,500,000.00$ 1.000% 125,000.00$ 2,625,000.00$ 3130ANL57 08/25/21 08/25/26 Federal Home Loan Banks 3,500,000.00$ 3,494,750.00$ 0.906% 153,125.00$ 3,653,125.00$ 31422XLY6 09/01/21 09/01/26 Federal Agricultural Mortgage Corp 4,000,000.00$ 4,000,000.00$ 0.900% 180,000.00$ 4,180,000.00$ 3133EM3T7 09/07/21 09/01/26 Federal Farm Credit Banks 3,000,000.00$ 2,997,750.00$ 0.885% 130,065.00$ 3,130,065.00$ 31422XNB4 09/30/21 09/30/26 Federal Agricultural Mortgage Corp 2,500,000.00$ 2,500,000.00$ 0.860% 107,798.60$ 2,607,798.60$ 3133ENAF7 12/27/21 10/07/26 Federal Farm Credit Banks 2,500,000.00$ 2,469,000.00$ 1.268% 119,444.44$ 2,619,444.44$ 3134GW6C5 02/15/22 10/28/26 Federal Home Loan Mortgage Corp 4,500,000.00$ 4,266,900.00$ 1.958% 169,300.00$ 4,669,300.00$ 3130APJZ9 02/25/22 10/28/26 Federal Home Loan Banks 3,500,000.00$ 3,378,200.00$ 1.979% 210,000.00$ 3,710,000.00$ 3130B1DC8 05/16/24 11/09/26 Federal Home Loan Banks 1,500,000.00$ 1,500,000.00$ 5.249% 196,875.00$ 1,696,875.00$ 3133ENFP0 12/09/21 11/30/26 Federal Farm Credit Banks 2,950,000.00$ 2,952,950.00$ 1.408% 167,958.25$ 3,117,958.25$ 3130AQF65 01/14/22 12/21/26 Federal Home Loan Banks 1,550,000.00$ 1,532,857.00$ 1.483% 95,637.15$ 1,645,637.15$ 3130AQMX8 02/07/22 01/26/27 Federal Home Loan Banks 1,250,000.00$ 1,245,000.00$ 1.331% 112,070.31$ 1,362,070.31$ 3130AQJR5 12/14/23 01/27/27 Federal Home Loan Banks 2,000,000.00$ 1,820,000.00$ 4.631% 105,000.00$ 2,105,000.00$ 3130AQLD3 03/29/22 01/28/27 Federal Home Loan Banks 2,500,000.00$ 2,384,750.00$ 2.776% 211,336.81$ 2,711,336.81$ 3130ARAB7 06/24/22 03/25/27 Federal Home Loan Banks 2,000,000.00$ 1,941,720.00$ 3.420% 260,791.67$ 2,260,791.67$ 3134GXNM2 02/20/24 03/25/27 Federal Home Loan Mortgage Corp 2,000,000.00$ 1,899,720.00$ 4.419% 186,700.00$ 2,186,700.00$ 3130ARL58 06/10/22 04/26/27 Federal Home Loan Banks 4,000,000.00$ 3,982,764.44$ 3.198% 589,235.56$ 4,589,235.56$ 3133EPJP1 05/12/23 05/12/27 Federal Farm Credit Banks 2,000,000.00$ 1,999,260.00$ 3.620% 290,000.00$ 2,290,000.00$ 3130ASCT4 06/28/22 06/28/27 Federal Home Loan Banks 2,500,000.00$ 2,500,000.00$ 3.250% 406,250.00$ 2,906,250.00$ 3130ASF46 06/30/22 06/30/27 Federal Home Loan Banks 2,500,000.00$ 2,500,000.00$ 3.500% 437,500.00$ 2,937,500.00$ 3130ASLA5 09/13/23 07/26/27 Federal Home Loan Banks 1,915,000.00$ 1,891,497.21$ 4.850% 344,700.00$ 2,259,700.00$ 3133ERNT4 08/14/24 08/12/27 Federal Farm Credit Banks 2,500,000.00$ 2,498,750.00$ 4.968% 371,250.00$ 2,871,250.00$ 3130B2QD0 09/13/24 09/10/27 Federal Home Loan Banks 1,500,000.00$ 1,500,000.00$ 4.070% 182,641.25$ 1,682,641.25$ 3133ENL99 09/30/22 09/15/27 Federal Farm Credit Banks 2,500,000.00$ 2,432,200.00$ 3.983% 418,359.37$ 2,918,359.37$ 3133EPXB6 09/28/23 09/28/27 Federal Farm Credit Banks 2,000,000.00$ 1,993,860.00$ 4.625% 370,000.00$ 2,370,000.00$ 3134GX3H5 05/15/24 09/29/27 Federal Home Loan Mortgage Corp 2,500,000.00$ 2,477,000.00$ 5.048% 415,625.00$ 2,915,625.00$ 3133EPJ30 12/06/23 12/06/27 Federal Farm Credit Banks 2,000,000.00$ 2,000,000.00$ 5.380% 430,400.00$ 2,430,400.00$ 3133EN3S7 12/07/22 12/07/27 Federal Farm Credit Banks 3,000,000.00$ 2,995,920.00$ 3.780% 562,500.00$ 3,562,500.00$ 3134H1GH0 10/30/23 12/30/27 Federal Home Loan Mortgage Corp 1,500,000.00$ 1,488,900.00$ 5.201% 312,500.00$ 1,812,500.00$ 3130AYPJ9 01/29/24 01/26/28 Federal Home Loan Banks 2,000,000.00$ 2,000,000.00$ 4.500% 359,500.00$ 2,359,500.00$ 3130AUQA5 02/02/23 02/02/28 Federal Home Loan Banks 2,500,000.00$ 2,500,000.00$ 4.050% 506,250.00$ 3,006,250.00$ 3130AYVC7 02/13/24 02/09/28 Federal Farm Credit Banks 2,000,000.00$ 2,000,000.00$ 4.625% 370,000.00$ 2,370,000.00$ 3130AUW59 03/08/23 02/17/28 Federal Home Loan Banks 1,500,000.00$ 1,480,500.00$ 4.240% 318,000.00$ 1,818,000.00$ 3133EP3Z6 02/28/24 02/28/28 Federal Farm Credit Banks 2,000,000.00$ 1,997,320.00$ 4.375% 350,000.00$ 2,350,000.00$ 3130B0EE5 04/23/24 03/06/28 Federal Home Loan Banks 2,000,000.00$ 1,985,960.00$ 5.000% 384,000.00$ 2,384,000.00$ 313382GT4 11/15/23 03/10/28 Federal Home Loan Banks 2,500,000.00$ 2,333,600.00$ 4.720% 337,500.00$ 2,837,500.00$ 3133EPDC6 03/13/23 03/13/28 Federal Farm Credit Banks 1,000,000.00$ 1,000,000.00$ 5.350% 267,500.00$ 1,267,500.00$ 3133EPFU4 04/12/23 04/12/28 Federal Farm Credit Banks 2,500,000.00$ 2,496,600.00$ 3.530% 437,500.00$ 2,937,500.00$ Nov. 21, 2024 Item #1 Page 75 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Invested Yield Interest Return Sept. 30, 2024 3130AVK50 04/24/23 04/24/28 Federal Home Loan Banks 1,500,000.00$ 1,500,000.00$ 5.000% 375,000.00$ 1,875,000.00$ 3130ALZW7 12/14/23 04/28/28 Federal Home Loan Banks 1,000,000.00$ 895,070.00$ 4.362% 76,500.00$ 1,076,500.00$ 3130AVZQ8 04/12/23 05/17/28 Federal Home Loan Banks 1,880,000.00$ 1,871,070.00$ 5.150% 460,600.00$ 2,340,600.00$ 3133EPMA0 06/09/23 06/09/28 Federal Farm Credit Banks 1,500,000.00$ 1,500,000.00$ 4.690% 351,750.00$ 1,851,750.00$ 3130B0NE5 05/01/24 07/06/28 Federal Home Loan Banks 2,400,000.00$ 2,376,000.00$ 4.969% 478,773.33$ 2,878,773.33$ 3134H1GL1 10/18/23 07/18/28 Federal Home Loan Mortgage Corp 2,500,000.00$ 2,493,750.00$ 5.002% 593,750.00$ 3,093,750.00$ 3134H1GL1 11/01/23 07/18/28 Federal Home Loan Mortgage Corp 2,000,000.00$ 1,982,760.00$ 5.210% 475,000.00$ 2,475,000.00$ 3133ERLM1 07/24/24 07/24/28 Federal Farm Credit Banks 2,500,000.00$ 2,500,000.00$ 5.100% 510,000.00$ 3,010,000.00$ 3134GYXX5 09/12/23 07/26/28 Federal Home Loan Mortgage Corp 1,750,000.00$ 1,747,375.00$ 5.650% 494,375.00$ 2,244,375.00$ 3133EPTA3 09/07/23 08/14/28 Federal Farm Credit Banks 1,000,000.00$ 1,000,000.00$ 5.108% 255,500.00$ 1,255,500.00$ 3133ERPK1 08/14/24 08/14/28 Federal Farm Credit Banks 2,500,000.00$ 2,500,000.00$ 4.670% 467,000.00$ 2,967,000.00$ 3134HAGR8 08/28/24 08/28/28 Federal Home Loan Mortgage Corp 2,500,000.00$ 2,485,000.00$ 4.164% 400,000.00$ 2,900,000.00$ 3134GWS23 05/17/24 09/14/28 Federal Home Loan Mortgage Corp 2,000,000.00$ 1,719,760.00$ 4.610% 90,000.00$ 2,090,000.00$ 3134H1CM3 11/17/23 09/25/28 Federal Home Loan Mortgage Corp 1,500,000.00$ 1,477,875.00$ 4.843% 327,750.00$ 1,827,750.00$ 3130B0PR4 04/02/24 10/02/28 Federal Home Loan Banks 2,000,000.00$ 2,000,000.00$ 5.000% 450,000.00$ 2,450,000.00$ 3130AP6J9 12/06/23 10/05/28 Federal Home Loan Banks 2,000,000.00$ 1,745,060.00$ 4.300% 135,000.00$ 2,135,000.00$ 3130APSR7 01/08/24 11/16/28 Federal Farm Credit Banks 1,500,000.00$ 1,342,500.00$ 4.107% 127,500.00$ 1,627,500.00$ 3130APTC9 01/19/24 11/22/28 Federal Home Loan Banks 1,000,000.00$ 896,600.00$ 4.193% 90,000.00$ 1,090,000.00$ 3130B0M89 03/28/24 12/28/28 Federal Home Loan Banks 3,000,000.00$ 2,949,000.00$ 4.402% 570,000.00$ 3,570,000.00$ 3130AYE51 01/08/24 01/02/29 Federal Home Loan Banks 2,500,000.00$ 2,501,250.00$ 4.947% 623,958.34$ 3,123,958.34$ 3130AYCV6 01/11/24 01/03/29 Federal Home Loan Banks 2,700,000.00$ 2,700,000.00$ 5.000% 675,000.00$ 3,375,000.00$ 3135GAM81 02/01/24 01/17/29 Federal National Mortgage Assoc 2,500,000.00$ 2,500,000.00$ 5.000% 624,305.56$ 3,124,305.56$ 3130AYJR8 02/20/24 01/17/29 Federal Home Loan Banks 2,000,000.00$ 1,990,000.00$ 4.714% 460,000.00$ 2,460,000.00$ 3130AYRG3 02/05/24 02/05/29 Federal Home Loan Banks 2,500,000.00$ 2,500,000.00$ 4.400% 550,000.00$ 3,050,000.00$ 3130AYWQ5 02/20/24 02/07/29 Federal Home Loan Banks 2,500,000.00$ 2,497,500.00$ 4.572% 568,118.05$ 3,068,118.05$ 3133ENUR9 07/22/24 04/18/29 Federal Farm Credit Banks 2,000,000.00$ 1,462,500.00$ 4.287% 370,000.00$ 2,370,000.00$ 3130B14U8 04/24/24 04/27/29 Federal Home Loan Banks 1,500,000.00$ 1,500,000.00$ 5.250% 393,093.75$ 1,893,093.75$ 3133EKKA3 09/30/24 05/02/29 Federal Farm Credit Banks 2,500,000.00$ 2,447,500.00$ 3.651% 393,750.00$ 2,893,750.00$ 3135GASP7 05/28/24 05/22/29 Federal National Mortgage Assoc 2,000,000.00$ 1,983,000.00$ 4.819% 462,500.00$ 2,462,500.00$ 3134H15T6 07/16/24 07/16/29 Federal Home Loan Mortgage Corp 2,500,000.00$ 2,491,875.00$ 4.074% 625,000.00$ 3,125,000.00$ 3134HAAN3 07/30/24 07/30/29 Federal Home Loan Mortgage Corp 3,000,000.00$ 2,965,500.00$ 4.635% 656,250.00$ 3,656,250.00$ 3134H16A6 07/30/24 07/30/29 Federal Home Loan Mortgage Corp 2,000,000.00$ 1,990,300.00$ 5.111% 500,000.00$ 2,500,000.00$ 3134HAEB5 08/14/24 08/14/29 Federal Home Loan Mortgage Corp 2,500,000.00$ 2,472,000.00$ 4.251% 500,000.00$ 3,000,000.00$ 3130B2PT6 09/13/24 09/12/29 Federal Home Loan Banks 2,500,000.00$ 2,500,000.00$ 4.200% 524,708.33$ 3,024,708.33$ Total federal investments 342,350,000.00$ 339,676,976.97$ 2.162% 31,806,530.49$ 374,156,530.49$ CUSIP Settlement Maturity Issuer Par Invested Yield Interest expected Return 45818WCW4 11/03/21 10/15/24 Inter-American Development Bank 1,440,000.00$ 1,419,552.00$ 0.828% 14,443.20$ 1,454,443.20$ 45950KCR9 02/04/21 10/16/24 International Finance Corporation 2,000,000.00$ 2,079,800.00$ 0.290% 101,750.00$ 2,101,750.00$ 45905U6L3 01/14/21 11/20/25 International Bank for Recon & Devel 2,000,000.00$ 2,250,220.00$ 0.510% 303,125.00$ 2,303,125.00$ 45950VPJ9 01/25/21 01/15/26 International Finance Corporation 2,000,000.00$ 2,007,840.00$ 0.500% 57,677.78$ 2,057,677.78$ 4581X0DV7 04/23/21 04/20/26 Inter-American Development Bank 3,000,000.00$ 3,000,720.00$ 0.870% 131,031.25$ 3,131,031.25$ 45950VPY6 05/28/21 05/15/26 International Finance Corporation 2,000,000.00$ 2,000,000.00$ 0.500% 49,638.89$ 2,049,638.89$ 45906M4E8 07/31/23 06/26/28 International Bank for Recon & Devel 1,250,000.00$ 1,240,000.00$ 4.684% 281,250.00$ 1,531,250.00$ 45906M4E8 09/07/23 06/26/28 International Bank for Recon & Devel 1,700,000.00$ 1,686,400.00$ 4.500% 382,500.00$ 2,082,500.00$ 459058KW2 09/28/23 08/01/28 International Bank for Recon & Devel 2,000,000.00$ 1,991,960.00$ 4.720% 448,368.06$ 2,448,368.06$ 45818WFE1 03/01/24 03/01/29 Inter-American Development Bank 2,500,000.00$ 2,500,000.00$ 4.400% 550,000.00$ 3,050,000.00$ Total supranationals 19,890,000.00$ 20,176,492.00$ 2.049% 2,319,784.18$ 22,209,784.18$ CUSIP Settlement Maturity Issuer Par Invested Yield Interest expected Return 912828YV6 06/07/21 11/30/24 U.S. Treasury 2,000,000.00$ 2,073,437.50$ 0.436% 104,426.23$ 2,104,426.23$ 91282CDS7 10/21/22 01/15/25 U.S. Treasury 4,000,000.00$ 3,712,187.50$ 4.548% 100,516.30$ 4,100,516.30$ 912828ZC7 07/15/21 02/28/25 U.S. Treasury 2,000,000.00$ 2,040,312.50$ 0.563% 81,623.64$ 2,081,623.64$ 912828ZL7 02/19/21 04/30/25 U.S. Treasury 2,000,000.00$ 1,997,920.00$ 0.400% 31,450.28$ 2,031,450.28$ Supranationals U.S. Treasury Nov. 21, 2024 Item #1 Page 76 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Invested Yield Interest Return Sept. 30, 2024 912828ZT0 02/19/21 05/31/25 U.S. Treasury 2,000,000.00$ 1,987,280.00$ 0.400% 21,387.36$ 2,021,387.36$ 91282CEU1 10/21/22 06/15/25 U.S. Treasury 3,000,000.00$ 2,877,180.00$ 4.530% 228,586.07$ 3,228,586.07$ 91282CAM3 01/11/21 09/30/25 U.S. Treasury 2,500,000.00$ 2,481,332.50$ 0.250% 29,481.46$ 2,529,481.46$ 91282CAZ4 01/11/21 11/30/25 U.S. Treasury 2,500,000.00$ 2,493,350.00$ 0.375% 45,793.27$ 2,545,793.27$ 91282CGA3 10/17/23 12/15/25 U.S. Treasury 2,000,000.00$ 1,962,187.50$ 4.930% 199,992.72$ 2,199,992.72$ 91282CBQ3 03/01/21 02/28/26 U.S. Treasury 3,000,000.00$ 2,964,726.56$ 0.740% 74,959.24$ 3,074,959.24$ 91282CBQ3 03/02/21 02/28/26 U.S. Treasury 2,000,000.00$ 1,975,513.02$ 0.750% 49,945.65$ 2,049,945.65$ 91282CLB5 08/27/24 07/31/26 U.S. Treasury 2,500,000.00$ 2,523,046.88$ 3.872% 218,875.49$ 2,718,875.49$ 912828U24 12/27/21 11/15/26 U.S. Treasury 2,500,000.00$ 2,594,531.25$ 1.200% 244,198.90$ 2,744,198.90$ 91282CDK4 01/14/22 11/30/26 U.S. Treasury 1,500,000.00$ 1,485,000.00$ 1.463% 91,432.01$ 1,591,432.01$ 912828Z78 05/08/23 01/31/27 U.S. Treasury 1,500,000.00$ 1,485,855.00$ 3.500% 83,970.99$ 1,583,970.99$ 91282CKJ9 05/06/24 04/15/27 U.S. Treasury 3,000,000.00$ 2,983,583.44$ 4.710% 404,870.90$ 3,404,870.90$ 91282CFB2 04/21/23 07/31/27 U.S. Treasury 2,500,000.00$ 2,400,000.00$ 3.770% 294,181.63$ 2,794,181.63$ 91282CFB2 05/03/24 07/31/27 U.S. Treasury 1,500,000.00$ 1,417,441.41$ 4.600% 144,375.00$ 1,644,375.00$ 91282CFU0 09/08/23 10/31/27 U.S. Treasury 1,500,000.00$ 1,479,375.00$ 4.491% 278,437.50$ 1,778,437.50$ 9128283F5 09/11/24 11/15/27 U.S. Treasury 2,000,000.00$ 1,928,750.00$ 3.443% 157,500.00$ 2,157,500.00$ 91282CGC9 01/25/23 12/31/27 U.S. Treasury 500,000.00$ 508,167.05$ 3.570% 96,393.30$ 596,393.30$ 91282CGC9 01/31/23 12/31/27 U.S. Treasury 750,000.00$ 760,105.97$ 3.647% 144,108.25$ 894,108.25$ 91282CGC9 09/08/23 12/31/27 U.S. Treasury 1,500,000.00$ 1,465,195.31$ 4.472% 261,562.50$ 1,761,562.50$ 91282CHA2 12/14/23 04/30/28 U.S. Treasury 1,000,000.00$ 969,687.50$ 4.265% 157,452.99$ 1,157,452.99$ 9128284N7 07/17/23 05/15/28 U.S. Treasury 1,000,000.00$ 953,056.40$ 3.952% 143,750.00$ 1,143,750.00$ 91282CHQ7 07/18/24 07/31/28 U.S. Treasury 2,000,000.00$ 2,000,454.00$ 4.118% 371,250.00$ 2,371,250.00$ Total U.S. Treasury 52,250,000.00$ 51,519,676.29$ 2.696% 4,060,521.68$ 56,310,521.68$ CUSIP Settlement Maturity Issuer Par Invested Yield Interest expected Return 06406RAL1 02/18/20 10/24/24 Bank of NY Mellon 3,055,000.00$ 3,093,737.40$ 1.816% 300,459.25$ 3,355,459.25$ 06368G3W5 11/15/21 11/15/24 Bank of Montreal 2,000,000.00$ 2,000,000.00$ 1.000% 60,000.00$ 2,060,000.00$ 931142DV2 01/16/20 12/15/24 Wal-Mart 2,000,000.00$ 2,067,790.00$ 1.900% 260,436.11$ 2,260,436.11$ 478160CJ1 01/15/20 01/15/25 Johnson & Johnson 1,820,000.00$ 1,882,380.50$ 1.586% 238,875.00$ 2,058,875.00$ 478160CJ1 04/08/20 01/15/25 Johnson & Johnson 3,000,000.00$ 3,231,960.00$ 0.906% 375,593.75$ 3,375,593.75$ 478160CJ1 07/13/20 01/15/25 Johnson & Johnson 1,000,000.00$ 1,090,640.00$ 0.510% 118,270.83$ 1,118,270.83$ 037833AZ3 09/10/21 02/09/25 Apple Inc 1,500,000.00$ 1,588,155.00$ 0.753% 128,020.83$ 1,628,020.83$ 66989HAP3 04/13/20 02/14/25 Novartis Capital Corp 3,310,000.00$ 3,379,576.20$ 1.300% 280,131.74$ 3,590,131.74$ 12572QAG0 06/03/20 03/15/25 CME Group Inc 2,771,000.00$ 3,050,981.84$ 0.730% 397,638.50$ 3,168,638.50$ 654106AH6 12/31/20 03/27/25 Nike Inc.2,867,000.00$ 3,090,740.68$ 0.500% 291,669.47$ 3,158,669.47$ 341081FZ53 05/13/20 04/01/25 Flordia Power & Light 3,667,000.00$ 3,980,565.17$ 1.020% 509,193.51$ 4,176,193.51$ 78015K7H17 12/07/21 06/10/25 Royal Bank of Canada 2,000,000.00$ 1,989,460.00$ 1.304% 80,691.67$ 2,080,691.67$ 478160CN2 04/23/21 09/01/25 Johnson & Johnson 1,250,000.00$ 1,241,700.00$ 0.705% 29,944.44$ 1,279,944.44$ 742718FL8 09/20/21 10/29/25 Procter & Gamble 1,500,000.00$ 1,487,460.00$ 0.757% 33,893.75$ 1,533,893.75$ 92826CAD4 05/17/21 12/14/25 Visa Inc 1,250,000.00$ 1,368,500.00$ 0.910% 180,140.62$ 1,430,140.62$ 06048WK82 08/23/21 01/26/26 Bank of America 1,000,000.00$ 989,470.00$ 1.000% 33,550.00$ 1,033,550.00$ 58933YAY1 04/12/21 02/24/26 Merck & Co 1,500,000.00$ 1,485,750.00$ 0.950% 54,750.00$ 1,554,750.00$ 48128G2Q2 03/01/21 02/26/26 JP Morgan Chase Bank 2,000,000.00$ 2,000,000.00$ 0.800% 80,000.00$ 2,080,000.00$ 478160BY9 03/01/21 03/01/26 Johnson & Johnson 2,500,000.00$ 2,697,950.00$ 0.750% 306,250.00$ 2,806,250.00$ 48128G3A6 03/03/21 03/03/26 JP Morgan Chase Bank 2,000,000.00$ 2,000,000.00$ 1.000% 100,000.00$ 2,100,000.00$ 48128G3V0 06/11/21 06/11/26 JP Morgan Chase Bank 2,000,000.00$ 2,000,000.00$ 1.150% 115,000.00$ 2,115,000.00$ 06048WM64 07/12/21 06/25/26 Bank of America 3,000,000.00$ 2,998,500.00$ 1.210% 178,300.00$ 3,178,300.00$ 57629WDE7 07/22/21 07/16/26 Massmtual Global 3,750,000.00$ 3,784,537.50$ 1.010% 224,250.00$ 3,974,250.00$ 594918BR4 08/11/21 08/08/26 Microsoft 4,000,000.00$ 4,292,240.00$ 0.900% 293,040.00$ 4,293,040.00$ 48128G5A4 08/25/21 08/25/26 JP Morgan Chase Bank 2,000,000.00$ 2,000,000.00$ 1.200% 120,000.00$ 2,120,000.00$ 06048WN63 09/10/21 09/10/26 Bank of America 2,000,000.00$ 2,000,000.00$ 1.150% 115,000.00$ 2,115,000.00$ 06048WP20 09/24/21 09/24/26 Bank of America 2,000,000.00$ 2,000,000.00$ 1.250% 125,000.00$ 2,125,000.00$ 59217GBY4 01/19/22 12/18/26 Met Life Global 4,000,000.00$ 4,281,720.00$ 1.940% 678,116.67$ 4,678,116.67$ 06368GC39 12/30/21 12/30/26 Bank of Montreal (BLC)2,450,000.00$ 2,450,000.00$ 2.000% 245,000.00$ 2,695,000.00$ 742718FV6 02/04/22 02/01/27 Procter & Gamble 2,000,000.00$ 2,010,459.28$ 1.331% 189,683.33$ 2,189,683.33$ 742718FV6 05/11/23 02/01/27 Procter & Gamble 1,000,000.00$ 935,367.00$ 3.620% 76,000.00$ 1,076,000.00$ Corporate notes Nov. 21, 2024 Item #1 Page 77 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Invested Yield Interest Return Sept. 30, 2024 48128G6F2 02/25/22 02/25/27 JP Morgan Chase Bank 5,000,000.00$ 5,000,000.00$ 2.550% 197,283.33$ 5,197,283.33$ 478160CE2 04/18/22 03/03/27 Johnson & Johnson 1,750,000.00$ 1,757,538.77$ 2.850% 251,671.87$ 2,001,671.87$ 742718FG9 07/08/22 03/25/27 Procter & Gamble 2,500,000.00$ 2,456,475.00$ 3.200% 329,972.22$ 2,829,972.22$ 64952WEQ2 06/23/23 04/07/27 New York Life Global 1,500,000.00$ 1,428,750.00$ 4.630% 195,000.00$ 1,695,000.00$ 64952WEQ2 07/18/23 04/07/27 New York Life Global 2,000,000.00$ 1,908,020.00$ 4.610% 260,000.00$ 2,260,000.00$ 06048WW63 06/23/22 06/22/27 Bank of America 3,000,000.00$ 3,000,000.00$ 5.000% 750,000.00$ 3,750,000.00$ 742718EV7 09/11/24 08/11/27 Procter & Gamble 2,000,000.00$ 1,951,140.00$ 3.741% 171,000.00$ 2,171,000.00$ 194162AN3 05/09/23 08/15/27 Colgate-Palmolive 2,000,000.00$ 1,997,600.00$ 3.694% 223,408.33$ 2,223,408.33$ 81257VAA9 03/10/23 10/01/27 Seattle Children Hosp 1,000,000.00$ 852,445.33$ 5.000% 222,581.34$ 1,222,581.34$ 78014RHK9 10/18/22 10/18/27 Royal Bank of Canada 2,500,000.00$ 2,500,000.00$ 5.700% 712,500.00$ 3,212,500.00$ 592179KF1 10/17/23 01/06/28 Met Life Global 1,000,000.00$ 983,540.00$ 5.050% 227,250.00$ 1,227,250.00$ 78014RKF6 01/18/23 01/18/28 Royal Bank of Canada 2,500,000.00$ 2,500,000.00$ 5.450% 691,090.22$ 3,191,090.22$ 742718FZ7 11/01/23 01/26/28 Procter & Gamble 2,000,000.00$ 1,922,140.00$ 4.979% 355,500.00$ 2,355,500.00$ 48130CDL6 11/03/23 11/03/28 JP Morgan Chase Bank 1,800,000.00$ 1,800,000.00$ 6.150% 553,500.00$ 2,353,500.00$ 771196BW1 12/22/23 12/13/28 Roche Holdings Inc 2,000,000.00$ 1,787,220.00$ 4.330% 193,000.00$ 2,193,000.00$ 6944PL2Z1 01/12/24 01/11/29 Pacific Life Global 1,000,000.00$ 1,006,500.00$ 4.752% 245,000.00$ 1,245,000.00$ 742718GF0 02/20/24 01/29/29 Procter & Gamble 2,000,000.00$ 1,984,175.26$ 4.530% 435,241.67$ 2,435,241.67$ 771196CJ9 03/28/24 03/08/29 Roche Holdings Inc 3,000,000.00$ 3,019,380.00$ 4.640% 718,500.00$ 3,718,500.00$ 478160CU6 06/13/24 06/01/29 Johnson & Johnson 3,000,000.00$ 3,044,268.57$ 4.800% 724,400.00$ 3,724,400.00$ 478160CU6 06/03/24 06/01/29 Johnson & Johnson 2,750,000.00$ 2,744,582.50$ 4.895% 664,033.34$ 3,414,033.34$ 64952WFG3 07/16/24 06/06/29 New York Life Global 3,000,000.00$ 3,036,390.00$ 4.718% 750,000.00$ 3,750,000.00$ 06376A5W6 06/18/24 06/18/29 Bank of Montreal (BLC)3,500,000.00$ 3,500,000.00$ 5.750% 1,006,250.00$ 4,506,250.00$ 17325FBK3 08/20/24 08/06/29 Citibank 2,000,000.00$ 2,040,000.00$ 4.838% 483,800.00$ 2,483,800.00$ 48130CSW6 09/20/24 08/29/29 JP Morgan Chase Bank 2,000,000.00$ 2,000,000.00$ 4.000% 393,333.33$ 2,393,333.33$ 48130CSE6 09/13/24 09/13/29 JP Morgan Chase Bank 2,000,000.00$ 2,000,000.00$ 4.125% 412,500.00$ 2,412,500.00$ Total corporate notes 126,990,000.00$ 128,689,806.00$ 2.626% 17,385,715.12$ 144,375,715.12$ CUSIP Settlement Maturity Issuer Par Invested Yield Interest expected Return 75472RAN1 11/26/19 11/26/24 Raymond James Bank NA 247,000.00$ 247,000.00$ 1.850% 22,872.54$ 269,872.54$ 61690URM4 01/09/20 01/09/25 Morgan Stanley Bank NA 247,000.00$ 247,000.00$ 1.900% 23,490.72$ 270,490.72$ 07815AAZ0 02/27/20 02/27/25 Bell Bank Corp 249,000.00$ 249,000.00$ 1.600% 19,941.88$ 268,941.88$ 02554BDA6 03/13/20 03/13/25 American Eagle bank 249,000.00$ 249,000.00$ 1.100% 13,702.54$ 262,702.54$ 17037TEN3 03/13/20 03/13/25 Choice Financial Group 248,000.00$ 248,000.00$ 1.100% 13,647.47$ 261,647.47$ 73319FAF6 03/18/20 03/18/25 Poppy Bank 249,000.00$ 249,000.00$ 1.100% 13,702.54$ 262,702.54$ 835104BZ2 03/19/20 03/19/25 Somerset Trust 249,000.00$ 249,000.00$ 1.000% 12,456.88$ 261,456.88$ 45083ANS7 03/20/20 03/20/25 Iberia Bank 248,000.00$ 248,000.00$ 1.000% 12,406.79$ 260,406.79$ 02519TAZ9 03/27/20 03/27/25 American Commerce Bank 249,000.00$ 249,000.00$ 0.950% 11,834.03$ 260,834.03$ 072727BF6 03/27/20 03/27/25 Baycoast Bank 248,000.00$ 248,000.00$ 0.950% 11,786.45$ 259,786.45$ 14042TDD6 04/08/20 04/08/25 Capital One 248,000.00$ 248,000.00$ 1.600% 19,850.88$ 267,850.88$ 29260MBF1 05/15/20 05/15/25 Encore Bank 249,000.00$ 249,000.00$ 0.800% 9,965.41$ 258,965.41$ 33847E3H8 05/15/20 05/15/25 Flagstar Bank 248,000.00$ 248,000.00$ 0.850% 10,545.77$ 258,545.77$ 404730CR2 05/26/20 05/27/25 Haddon Savings Bank 248,000.00$ 248,000.00$ 0.750% 9,310.19$ 257,310.19$ 43719LAE5 05/29/20 05/29/25 Home Loan Inv Bank 249,000.00$ 249,000.00$ 0.800% 9,965.41$ 258,965.41$ 56102AAJ5 05/29/20 05/29/25 Malaga Bank 249,000.00$ 249,000.00$ 0.700% 8,719.87$ 257,719.87$ 69506YRT8 05/29/20 05/29/25 Pacific Western Bank 249,000.00$ 249,000.00$ 0.700% 8,719.77$ 257,719.77$ 86128QCF3 06/10/20 06/10/25 Stockman Bank 249,000.00$ 249,000.00$ 0.600% 7,474.10$ 256,474.10$ 740367MA2 07/17/20 07/17/25 Preferred Bank 249,000.00$ 249,000.00$ 0.500% 6,228.46$ 255,228.46$ 89235MJZ5 07/16/20 07/28/25 Toyota Financial Savings Bank 249,000.00$ 249,000.00$ 0.650% 8,096.93$ 257,096.93$ 211163KQ2 07/29/20 07/29/25 Continental Bank 249,000.00$ 249,000.00$ 0.500% 6,228.46$ 255,228.46$ 02007GXF5 08/09/22 08/04/25 Ally Bank 201,000.00$ 201,000.00$ 3.400% 20,427.10$ 221,427.10$ 549104RV1 08/14/20 08/14/25 Luana Savings Bank 249,000.00$ 249,000.00$ 0.450% 5,605.57$ 254,605.57$ 32022RNT0 08/19/20 08/19/25 1st Financial Bank 249,000.00$ 249,000.00$ 0.450% 5,605.82$ 254,605.82$ 31944MBB0 08/20/20 08/20/25 1st Carolina Bank 249,000.00$ 249,000.00$ 0.450% 5,605.82$ 254,605.82$ 664122AF5 08/20/20 08/20/25 Northeast Community Bank 249,000.00$ 249,000.00$ 0.450% 5,605.82$ 254,605.82$ 228212AQ9 09/04/20 09/04/25 Crown Bank 249,000.00$ 249,000.00$ 0.400% 4,982.62$ 253,982.62$ 59013KKJ4 09/15/20 09/15/25 Merrick 249,000.00$ 249,000.00$ 0.400% 4,982.62$ 253,982.62$ Certificate of deposit Nov. 21, 2024 Item #1 Page 78 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Invested Yield Interest Return Sept. 30, 2024 2027506P5 10/22/20 09/25/25 Commonwealth Bus Bank 249,000.00$ 249,000.00$ 0.400% 4,908.94$ 253,908.94$ 51507LBY9 09/29/20 09/29/25 Landmark Community 249,000.00$ 249,000.00$ 0.400% 4,982.58$ 253,982.58$ 538036LQ5 10/22/20 10/08/25 Live Oak Bank 249,000.00$ 249,000.00$ 0.400% 4,944.42$ 253,944.42$ 560390AS5 10/15/20 10/15/25 Maine Comm Bank 249,000.00$ 249,000.00$ 0.350% 4,359.94$ 253,359.94$ 33625CDS5 10/16/20 10/16/25 First Security Bank Wash 249,000.00$ 249,000.00$ 0.350% 4,359.94$ 253,359.94$ 780684AJ5 11/06/20 10/23/25 Royal Savings Bank 249,000.00$ 249,000.00$ 0.400% 4,944.42$ 253,944.42$ 33744AAW9 11/18/20 11/18/25 First US Bank 249,000.00$ 249,000.00$ 0.400% 4,982.62$ 253,982.62$ 88413QCU0 12/18/20 12/18/25 Third Federal Savings and Loan 249,000.00$ 249,000.00$ 0.450% 5,605.56$ 254,605.56$ 91330ACR6 12/18/20 12/18/25 Unity Bank 249,000.00$ 248,377.50$ 0.400% 4,982.72$ 253,982.72$ 08016PDV8 12/23/20 12/23/25 Belmont Savings Bank 249,000.00$ 248,377.50$ 0.400% 4,982.62$ 253,982.62$ 634116CW5 12/28/20 12/23/25 National Bank of NY City 249,000.00$ 248,688.75$ 0.400% 4,968.98$ 253,968.98$ 882214AA7 01/08/21 12/23/25 Texas Bank Henderson 249,000.00$ 249,000.00$ 0.450% 5,556.70$ 254,556.70$ 06424KBH2 01/08/21 01/08/26 Bank of Santa Clarita 249,000.00$ 248,688.75$ 0.400% 4,982.62$ 253,982.62$ 38522ABP0 01/08/21 01/08/26 Grand Bank Tulsa 249,000.00$ 248,688.75$ 0.400% 4,982.62$ 253,982.62$ 20143PEH9 01/26/21 01/26/26 Commercial Bank 249,000.00$ 248,751.00$ 0.471% 5,605.82$ 254,605.82$ 15258RAV9 01/27/21 01/27/26 Central Bank Storm Lake 249,000.00$ 248,751.00$ 0.471% 5,605.82$ 254,605.82$ 43786UAJ2 02/18/21 01/29/26 Hometown Bk of Alabama 249,000.00$ 249,000.00$ 0.400% 4,928.04$ 253,928.04$ 909242AN9 02/26/21 02/26/26 United Rep Bk Omaha 249,000.00$ 249,000.00$ 0.400% 4,982.61$ 253,982.61$ 12527CDV1 03/03/21 03/03/26 CFG Community Bk 249,000.00$ 249,000.00$ 0.400% 4,982.73$ 253,982.73$ 110087AS2 03/10/21 03/10/26 Bristol Morgan Bank 249,000.00$ 249,000.00$ 0.450% 5,605.82$ 254,605.82$ 87164XA30 09/03/21 09/03/26 Syncrony Bank 249,000.00$ 249,000.00$ 0.900% 11,205.00$ 260,205.00$ 90348JS92 09/09/21 09/09/26 UBS Bank USA 249,000.00$ 249,000.00$ 0.950% 11,834.03$ 260,834.03$ 919853NZ0 09/17/24 09/17/26 Valley National Bank 245,000.00$ 245,000.00$ 3.950% 19,355.00$ 264,355.00$ 795451BH5 04/05/22 02/23/27 Sallie May Bank 247,000.00$ 242,902.27$ 2.564% 26,574.50$ 273,574.50$ 598580AM0 03/08/23 03/08/27 Mifflinburg Bank and Trust Company 249,000.00$ 249,000.00$ 4.650% 46,345.77$ 295,345.77$ 27004PCN1 03/09/22 03/09/27 Eaglemark Savings 247,000.00$ 247,000.00$ 2.000% 24,713.53$ 271,713.53$ 64034KBF7 03/09/22 03/09/27 Nelnet Bank Inc 247,000.00$ 247,000.00$ 1.950% 24,095.69$ 271,095.69$ 07371CN21 03/16/22 03/10/27 Beal Bank NV 247,000.00$ 247,000.00$ 1.800% 22,169.09$ 269,169.09$ 07371AB28 03/16/22 03/10/27 Beal Bank TX 247,000.00$ 247,000.00$ 1.800% 22,169.09$ 269,169.09$ 47804GLM3 09/20/24 03/22/27 John Marshall Bank 249,000.00$ 249,000.00$ 3.800% 23,667.93$ 272,667.93$ 02589ABW1 03/23/22 03/23/27 American Exp Bank 247,000.00$ 247,000.00$ 2.200% 27,184.89$ 274,184.89$ 31938QW34 02/15/22 04/15/27 First Business Bank 245,000.00$ 245,000.00$ 3.900% 33,790.69$ 278,790.69$ 254673D94 05/18/22 05/19/27 Discover Bank 246,000.00$ 246,000.00$ 3.200% 39,403.14$ 285,403.14$ 910286GS6 07/14/23 07/14/27 United Fidelity Bank 249,000.00$ 249,000.00$ 4.600% 45,847.38$ 294,847.38$ 78577TMR3 11/06/23 08/06/27 Saco & Biddeford Savings Institution 244,000.00$ 244,000.00$ 5.000% 45,750.00$ 289,750.00$ 68405VAU3 09/15/23 09/13/27 Optum Bank 244,000.00$ 244,000.00$ 4.700% 45,872.00$ 289,872.00$ 20347MAS0 10/20/23 10/20/27 Community Bank and Trust 244,000.00$ 244,000.00$ 4.900% 47,824.00$ 291,824.00$ 37173RAJ2 12/13/23 12/13/27 Genesee Regional Bank 244,000.00$ 244,000.00$ 4.400% 42,944.00$ 286,944.00$ 34520LAY9 12/15/22 12/15/27 Forebright Bank 249,000.00$ 248,651.40$ 4.031% 49,827.34$ 298,827.34$ 84229LBJ0 12/16/22 12/16/27 Southern Bank 245,000.00$ 245,000.00$ 4.000% 49,026.84$ 294,026.84$ 32026U4X1 01/17/24 01/18/28 First Foundation Bank 245,000.00$ 245,000.00$ 4.000% 38,689.86$ 283,689.86$ 70212YBE1 02/22/23 02/22/28 Partners Bank California 245,000.00$ 245,000.00$ 3.850% 47,188.34$ 292,188.34$ 062119BH4 03/08/23 03/07/28 Bank Five Nine 249,000.00$ 249,000.00$ 4.550% 56,678.44$ 305,678.44$ 05580AW59 03/10/23 03/10/28 BMW Bank North America 244,000.00$ 244,000.00$ 4.600% 56,181.50$ 300,181.50$ 108622NK3 03/29/23 03/29/28 Bridgewater Bk 249,000.00$ 249,000.00$ 4.800% 59,825.54$ 308,825.54$ 178180GY5 03/31/23 03/31/28 City Natl Bk - Los Angeles 243,000.00$ 243,000.00$ 5.000% 60,816.56$ 303,816.56$ 914098DQ8 04/03/23 04/03/28 University Bank NA 249,000.00$ 249,000.00$ 4.800% 59,825.53$ 308,825.53$ 61768E3D3 05/08/24 05/08/28 Morgan Stanley Bank NA 244,000.00$ 244,000.00$ 4.700% 45,903.42$ 289,903.42$ 05600XQE3 05/16/23 05/16/28 BMO Harris Bank NA 244,000.00$ 244,000.00$ 4.500% 54,960.16$ 298,960.16$ 23204HPB8 06/06/23 06/14/28 Customers Bank 244,000.00$ 244,000.00$ 4.500% 53,365.81$ 297,365.81$ 91527PCD7 06/06/23 06/21/28 Univest Bank & Trust 249,000.00$ 249,000.00$ 4.500% 56,546.88$ 305,546.88$ 501798UJ9 07/18/23 07/18/28 LCA Bank Corporation 243,000.00$ 243,000.00$ 4.500% 54,734.92$ 297,734.92$ 58404DTG6 09/19/23 09/19/28 Medallion Bank 249,000.00$ 249,000.00$ 4.600% 57,332.81$ 306,332.81$ 59936MAA4 09/25/23 09/25/28 Milford Building & Loan 244,000.00$ 244,000.00$ 4.550% 55,510.00$ 299,510.00$ 84287PJB9 10/17/23 10/17/28 Southern First Bank 244,000.00$ 244,000.00$ 4.850% 59,170.00$ 303,170.00$ 949765HZ0 11/21/23 11/21/28 Wells Fargo Bank NA 248,000.00$ 248,000.00$ 5.050% 62,898.31$ 310,898.31$ 523343AA9 12/29/23 12/29/28 Ledyark National Bank 244,000.00$ 244,000.00$ 4.050% 49,464.16$ 293,464.16$ Nov. 21, 2024 Item #1 Page 79 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Invested Yield Interest Return Sept. 30, 2024 227563EX7 03/12/24 03/07/29 Cross River Bank 244,000.00$ 244,000.00$ 4.250% 51,736.36$ 295,736.36$ 04518XAH7 03/14/24 03/14/29 Asian Bank 244,000.00$ 244,000.00$ 4.200% 51,268.08$ 295,268.08$ 38150VUH0 05/21/24 05/21/29 Goldman Sachs Bank 244,000.00$ 244,000.00$ 4.500% 54,930.08$ 298,930.08$ 93883MAZ1 05/22/24 05/22/29 Washington Financial Bank 244,000.00$ 244,000.00$ 4.450% 54,319.75$ 298,319.75$ 06652CHX2 07/31/24 07/31/29 Bankwest Inc 248,000.00$ 248,000.00$ 4.900% 60,760.00$ 308,760.00$ Total certificate of deposit 22,228,000.00$ 22,220,876.92$ 2.211% 2,276,724.40$ 24,504,724.40$ CUSIP Settlement Maturity Issuer Par Invested Yield Interest expected Return 3137F32A1 04/15/20 11/25/24 FHLM - KHG1 A1 180,007.47$ 192,945.50$ 0.999% 1,210.17$ 181,217.64$ 30315EAA4 07/24/20 05/25/25 FRESB - MFM 873,904.71$ 878,178.98$ 0.830% 2,368.90$ 876,273.61$ 3137BJQ71 03/15/21 05/25/25 FHLM - FHMS KPLB A 2,000,000.00$ 2,157,500.00$ 2.770% 18,100.72$ 2,018,100.72$ 30318NAA1 02/19/21 01/25/26 FRESB - 2021-SB83 1,194,748.14$ 1,138,199.32$ 0.505% 5,927.49$ 1,200,675.63$ 3137BPW21 03/25/21 03/25/26 FHLM - KHMS K055 2,500,000.00$ 2,700,000.00$ 2.673% 48,499.30$ 2,548,499.30$ 3137BP4J5 08/20/21 03/25/26 FHLM - FHMS K1R1 839,482.93$ 879,227.21$ 0.414% 16,519.17$ 856,002.10$ 30321CAQ5 07/23/21 04/25/26 FRESB - 2021-SB88 1,654,054.99$ 1,661,822.43$ 0.746% 11,107.83$ 1,665,162.82$ 30324QAC2 01/21/22 11/25/26 FRESB - 2022-SB94 3,916,201.81$ 3,934,314.24$ 1.500% 66,573.94$ 3,982,775.75$ 30311SAA7 04/22/22 04/25/27 FRESB - 2022-SB97 3,284,205.05$ 3,154,045.43$ 2.803% 69,299.36$ 3,353,504.41$ 30329MAA0 10/28/22 06/25/27 FRESB - 2022-SB103 1,463,336.59$ 1,310,984.23$ 4.989% 39,932.66$ 1,503,269.25$ 30329QAA1 11/18/22 09/25/27 FRESB - 2022-SB104 3,819,226.28$ 3,486,334.88$ 2.600% 143,904.11$ 3,963,130.39$ 3138L7D60 12/16/22 10/01/27 FHLM - AM6424 954,525.68$ 924,100.18$ 4.212% 47,149.41$ 1,001,675.09$ 3132XGRH1 01/27/23 11/01/27 FRESB - WN2287 2,962,010.58$ 2,935,167.36$ 3.929% 161,421.49$ 3,123,432.07$ 3132XFGC6 01/08/24 03/01/28 FHLM - WN1094 1,000,000.00$ 884,882.81$ 4.476% 22,840.13$ 1,022,840.13$ 3140LBSE4 01/09/24 03/01/28 FNMA - BS1416 1,000,000.00$ 877,773.44$ 4.300% 17,250.56$ 1,017,250.56$ 3140LKEG4 01/09/24 05/01/28 FNMA - BS8234 1,381,540.00$ 1,378,841.68$ 4.448% 103,904.87$ 1,485,444.87$ 3132XFMP0 02/06/24 05/01/28 FHLM - WN1265 2,000,000.00$ 2,007,500.00$ 4.611% 162,804.69$ 2,162,804.69$ 30332EAA3 07/20/23 05/25/28 FRESB - 2023-SB107 2,992,471.98$ 2,927,412.65$ 4.090% 216,648.31$ 3,209,120.29$ 35564CAA5 01/11/24 06/25/28 FHLM - SLST 2018 935,392.00$ 897,720.54$ 5.366% 60,980.00$ 996,372.00$ 30333AAA0 08/17/23 06/25/28 FRESB - 2023-SB108 3,485,605.16$ 3,410,483.40$ 4.793% 268,891.23$ 3,754,496.39$ 3132XGYJ9 03/07/24 09/01/28 FHLM - WN2512 1,550,000.00$ 1,518,515.63$ 4.800% 125,342.56$ 1,675,342.56$ 30334CAA5 11/16/23 09/25/28 FRESB - 2023-SB111 2,747,498.19$ 2,685,984.45$ 5.284% 252,252.23$ 2,999,750.42$ 3132XGYR1 03/18/24 11/01/28 FHLM - WN2519 2,500,000.00$ 2,494,531.25$ 4.797% 234,022.39$ 2,734,022.39$ 3132XFNX2 02/13/24 11/01/28 FHLM - WN1305 2,000,000.00$ 1,992,031.25$ 4.350% 172,843.31$ 2,172,843.31$ 3132XGYU4 03/15/24 12/01/28 FHLM - WN2522 3,000,000.00$ 3,000,000.00$ 4.530% 274,584.38$ 3,274,584.38$ 3140NUFX2 01/30/24 12/01/28 FNMA - BZ0181 3,000,000.00$ 3,069,720.00$ 4.920% 299,413.04$ 3,299,413.04$ 30336BAA5 04/25/24 12/25/28 FRESB - 2024-SB113 3,499,473.83$ 3,470,183.24$ 5.217% 368,420.92$ 3,867,894.75$ 3132XGZE9 03/13/24 01/01/29 FHLM - WN2540 3,500,000.00$ 3,510,390.63$ 4.900% 292,450.81$ 3,792,450.81$ 3140NUN54 01/29/24 01/01/29 FNMA - BZ0411 2,000,000.00$ 1,985,220.00$ 4.400% 172,983.87$ 2,172,983.87$ 3140HRZS5 01/17/24 01/01/29 FNMA - BL0752 1,500,000.00$ 1,458,450.00$ 3.650% 108,294.06$ 1,608,294.06$ 3140NUUA5 03/19/24 03/01/29 FNMA - BZ0576 2,000,000.00$ 2,000,000.00$ 4.561% 194,893.40$ 2,194,893.40$ 3140NUUL1 03/13/24 03/01/29 FNMA - BZ0586 2,000,000.00$ 1,993,440.00$ 4.371% 183,318.48$ 2,183,318.48$ 30337MAA0 06/27/24 03/25/29 FRESB - 2024-SB114 2,975,398.09$ 2,990,132.26$ 4.990% 333,522.39$ 3,308,920.48$ 3132XFQN1 07/02/24 04/01/29 FHLM - WN1360 2,000,000.00$ 1,950,000.00$ 4.568% 174,429.55$ 2,174,429.55$ 3140LGDL3 08/13/24 06/01/29 FNMA - BS5506 2,000,000.00$ 1,912,500.00$ 4.125% 134,493.74$ 2,134,493.74$ 3132XG3G9 07/23/24 06/01/29 FHLM - WN3598 2,000,000.00$ 1,985,000.00$ 4.592% 195,842.43$ 2,195,842.43$ 3140HURA6 08/27/24 07/01/29 FNMA - BL3180 2,500,000.00$ 2,381,250.00$ 4.007% 162,440.74$ 2,662,440.74$ Total mortgage backed securities (agency) 79,209,083.48$ 78,134,782.98$ 3.925% 5,164,882.64$ 84,373,966.12$ CUSIP Settlement Maturity Issuer Par Invested Yield Interest expected Return 419792ZK5 02/26/21 10/01/24 Hawaii, State of 3,000,000.00$ 3,039,420.00$ 0.433% 86,549.17$ 3,086,549.17$ 419792ZK5 03/17/22 10/01/24 Hawaii, State of 2,000,000.00$ 1,933,240.00$ 2.160% 40,723.78$ 2,040,723.78$ 79771FAX5 03/01/21 11/01/24 San Francisco City Public Utilities 1,000,000.00$ 1,004,450.00$ 0.600% 26,523.31$ 1,026,523.31$ 575181GX 06/02/21 12/01/24 Mason & Kitsap Counties School District 640,000.00$ 640,000.00$ 0.538% 12,041.64$ 652,041.64$ 023051YW9 07/19/21 02/01/25 Amarillo Independent SD 1,800,000.00$ 1,762,290.00$ 0.600%-$ 1,800,000.00$ 882806HG0 03/22/21 02/15/25 Texas St Tech Univ 2,500,000.00$ 2,524,850.00$ 0.679% 93,800.00$ 2,593,800.00$ 91412HGE7 03/01/21 05/15/25 University of California 1,500,000.00$ 1,517,250.00$ 0.600% 55,724.13$ 1,555,724.13$ Mortgage backed securities (agency) Municpal bonds Nov. 21, 2024 Item #1 Page 80 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Invested Yield Interest Return Sept. 30, 2024 91412HGE7 06/29/21 05/15/25 University of California 1,960,000.00$ 1,966,154.40$ 0.799% 67,111.92$ 2,027,111.92$ 625506QN3 02/02/21 06/15/25 County of Multnomah OR 2,000,000.00$ 2,006,040.00$ 0.430% 37,553.89$ 2,037,553.89$ 91412GU94 01/28/21 07/01/25 University of California 1,805,000.00$ 1,995,210.90$ 0.509% 244,645.68$ 2,049,645.68$ 20772KEW5 06/30/22 09/15/25 Connecticut, State of 2,850,000.00$ 2,863,053.00$ 3.201% 476,400.00$ 3,326,400.00$ 13063DMA3 04/01/21 04/01/26 California, State of 4,140,000.00$ 4,478,652.00$ 0.970% 161,300.35$ 4,301,300.35$ 13063DMA3 05/18/21 04/01/26 California, State of 1,250,000.00$ 1,353,350.00$ 0.910% 342,250.56$ 1,592,250.56$ 736688MF6 09/01/21 06/15/26 Portland Community College 1,100,000.00$ 1,102,992.00$ 0.841% 122,255.56$ 1,222,255.56$ 569280EX4 12/07/21 06/15/26 Marion County School 1,880,000.00$ 1,885,245.20$ 1.374% 548,550.00$ 2,428,550.00$ 842475P82 02/11/22 07/01/26 Sthrn CA ST Pub Pwr Auth 2,485,000.00$ 2,415,643.65$ 1.930% 47,357.32$ 2,532,357.32$ 797272QR5 08/12/21 08/01/26 San Diego Community College 3,000,000.00$ 3,209,550.00$ 0.860% 33,041.17$ 3,033,041.17$ 801315KR2 08/23/21 08/01/26 Santa Barbara CA USD 500,000.00$ 511,970.00$ 0.842% 81,862.08$ 581,862.08$ 798189PY6 08/23/21 08/01/26 San Jose Evergreen Community College 750,000.00$ 799,522.50$ 0.842% 101,809.78$ 851,809.78$ 798170AJ5 01/06/22 08/01/26 San Jose Redevelopment 3,000,000.00$ 3,220,260.00$ 1.507% 342,742.58$ 3,342,742.58$ 6041295T9 08/10/22 08/01/26 Minnesota, State of 1,215,000.00$ 1,215,000.00$ 3.250% 174,512.81$ 1,389,512.81$ 79730CJK1 04/22/24 08/01/26 San Diego Pub Fin Auth Water Revenue 2,000,000.00$ 1,866,860.00$ 5.035% 86,586.50$ 2,086,586.50$ 13063DRD2 02/08/22 10/01/26 California, State of 2,400,000.00$ 2,468,808.00$ 1.730% 170,415.98$ 2,570,415.98$ 419792ZN9 03/02/22 10/01/26 Hawaii, State of 2,000,000.00$ 1,938,920.00$ 1.810% 264,891.67$ 2,264,891.67$ 13067WSW3 12/20/21 12/01/26 California, State of 1,275,000.00$ 1,257,405.00$ 1.051% 977,643.33$ 2,252,643.33$ 13067WSW3 03/29/22 12/01/26 California, State of 1,425,000.00$ 1,322,001.00$ 2.708% 84,523.29$ 1,509,523.29$ 13067WSW3 04/18/22 12/01/26 California, State of 2,705,000.00$ 2,475,237.30$ 3.035% 90,565.95$ 2,795,565.95$ 79623PSA4 09/18/24 02/01/27 San Antonio TX, City of 500,000.00$ 500,000.00$ 4.158% 49,260.75$ 549,260.75$ 016249FQ2 10/30/23 02/15/27 Alief Independent School District 1,980,000.00$ 1,969,209.00$ 5.380% 360,360.00$ 2,340,360.00$ 544646A77 06/13/22 05/01/27 Los Angeles Unified School District 3,500,000.00$ 3,883,600.00$ 3.820% 15,705.20$ 3,515,705.20$ 68608VDX9 10/13/23 05/01/27 Oregon, State of 1,000,000.00$ 943,330.00$ 5.080% 132,640.00$ 1,132,640.00$ 91412HGF4 05/15/23 05/15/27 University of California 1,000,000.00$ 908,270.00$ 3.810% 52,640.00$ 1,052,640.00$ 91412HGF4 05/16/24 05/15/27 University of California 2,500,000.00$ 2,266,050.00$ 4.712% 98,700.00$ 2,598,700.00$ 91412HGF4 05/03/24 05/15/27 University of California 1,000,000.00$ 904,080.00$ 4.780% 46,060.00$ 1,046,060.00$ 544495VX9 08/27/23 07/01/27 Los Angeles Dept of Water & Power 1,500,000.00$ 1,580,685.00$ 4.100% 345,669.33$ 1,845,669.33$ 419794F72 06/06/23 07/01/27 Hawaii, State of 1,125,000.00$ 1,004,962.50$ 4.720% 82,624.50$ 1,207,624.50$ 438701Y40 06/28/23 07/01/27 Honolulu Wastewater System Revenue 1,500,000.00$ 1,392,885.00$ 4.460% 168,412.50$ 1,668,412.50$ 796720NT3 02/22/23 08/01/27 San Bernardino Community College Dist 1,500,000.00$ 1,328,325.00$ 1.480% 107,266.25$ 1,607,266.25$ 357155BA7 05/09/23 08/01/27 Fremont CA Unified School District 2,000,000.00$ 1,795,450.00$ 3.750% 94,110.34$ 2,094,110.34$ 68609TU22 08/22/23 08/01/27 Oregon State Dept of Transportation 1,585,000.00$ 1,394,070.90$ 1.354% 85,843.60$ 1,670,843.60$ 212204JH5 08/31/23 08/01/27 Contra Costa CA Community College Dist 1,000,000.00$ 909,510.00$ 4.720% 86,520.00$ 1,086,520.00$ 797272RP8 10/25/23 08/01/27 San Diego Community College 2,290,000.00$ 2,016,551.10$ 5.161% 149,582.80$ 2,439,582.80$ 072031AP2 08/01/23 10/01/27 Bay Area Water 1,250,000.00$ 1,185,562.50$ 4.742% 189,281.25$ 1,439,281.25$ 032556FB3 10/17/23 10/01/27 City of Anaheim 1,670,000.00$ 1,487,068.20$ 1.998% 133,466.40$ 1,803,466.40$ 68607DVD4 06/16/23 11/15/27 Oregon State Dept of Transportation 2,000,000.00$ 1,738,740.00$ 4.370% 97,560.00$ 2,097,560.00$ 13063DC48 12/14/23 02/01/28 California, State of 1,440,000.00$ 1,289,520.00$ 4.500% 110,160.00$ 1,550,160.00$ 13063DGC6 07/23/24 04/01/28 California, State of 3,000,000.00$ 2,901,480.00$ 4.474% 420,000.00$ 3,420,000.00$ 54438CYM8 12/19/23 08/01/28 Los Angeles Community College Dist 2,250,000.00$ 2,020,005.00$ 4.350% 180,675.00$ 2,430,675.00$ 802385SN5 11/17/23 08/01/28 Santa Monica Community College Dist 1,000,000.00$ 940,860.00$ 4.950% 176,350.00$ 1,176,350.00$ 798170AL0 08/09/23 08/01/28 San Jose Redevelopment 1,000,000.00$ 948,450.00$ 4.742% 189,281.25$ 1,189,281.25$ 83412PHS4 01/22/24 08/01/28 Solano County Community College Dist 2,000,000.00$ 1,775,780.00$ 4.227% 147,900.00$ 2,147,900.00$ 7994082H1 08/24/23 08/01/28 San Ramon Valley School District 1,000,000.00$ 861,870.00$ 4.850% 83,500.00$ 1,083,500.00$ 695802NN4 12/07/23 08/01/28 Pajaro Valley Unified School District 1,015,000.00$ 992,162.50$ 4.294% 257,640.00$ 1,272,640.00$ 882723B40 11/21/23 10/01/28 Texas, State of 1,500,000.00$ 1,410,330.00$ 4.700% 248,325.00$ 1,748,325.00$ 882724RD1 11/21/23 10/01/28 Texas PFA, State of 2,000,000.00$ 1,787,400.00$ 4.750% 227,600.00$ 2,227,600.00$ 13063DL22 11/15/23 10/01/28 California, State of 1,000,000.00$ 860,500.00$ 5.008% 87,500.00$ 1,087,500.00$ 13077DQG0 02/08/24 11/01/28 California State University 2,500,000.00$ 2,209,350.00$ 4.260% 190,125.00$ 2,690,125.00$ 59320A30 05/01/24 05/01/29 Miami Beach FL, City of 1,400,000.00$ 1,396,640.00$ 4.674% 327,180.00$ 1,727,180.00$ 769036BR4 06/03/24 06/01/29 Riverside, City of 1,375,000.00$ 1,250,136.25$ 4.895% 194,081.25$ 1,569,081.25$ 91412HFG3 09/11/24 07/01/29 University of California 1,000,000.00$ 987,240.00$ 3.640% 167,450.00$ 1,167,450.00$ Total municpal bonds 104,560,000.00$ 101,613,447.90$ 2.816% 10,074,852.86$ 114,634,852.86$ Nov. 21, 2024 Item #1 Page 81 of 86 City of Carlsbad investment portfolio Investment detail CUSIP Settlement Maturity Issuer Par Invested Yield Interest Return Sept. 30, 2024 N/A N/A N/A Wells Fargo Bank - General 2,351,846.00$ 2,351,846.00$ 0.000%-$ 2,351,846.00$ N/A N/A N/A Wells Fargo Sweep account 5,445,787.81$ 5,445,787.81$ 4.799% 21,780.02$ 5,467,567.83$ N/A N/A N/A Principal - Custody 10,482,297.37$ 10,482,297.37$ 2.650% 23,148.41$ 10,505,445.78$ N/A N/A N/A CAMP 116,821,114.17$ 116,821,114.17$ 5.290% 514,986.41$ 117,336,100.58$ N/A N/A N/A LAIF City 213,565.13$ 213,565.13$ 4.575%814.22$ 214,379.35$ N/A N/A N/A LAIF CMWD 863,213.83$ 863,213.83$ 4.575% 3,291.00$ 866,504.83$ N/A N/A N/A LAIF CPFA 790,735.93$ 790,735.93$ 4.575% 3,014.68$ 793,750.61$ Total cash and pooled investments 136,968,560.24$ 136,968,560.24$ 4.968% 567,034.74$ 137,535,594.98$ GRAND TOTAL 884,445,643.72$ 879,000,619.30$ 2.9297% 73,656,046.11$ 958,101,689.83$ Cash and pooled investments Nov. 21, 2024 Item #1 Page 82 of 86 City of Carlsbad investment portfolio 115 Trust Activity Exhibit 10 Period Ending Contributions Net Earnings Distributions Ending Balance Fiscal year 2023-24 10,000,000.00$ 849,412.96$ -$ 10,849,412.96$ 07/31/24 -$ 260,092.28$ -$ 11,109,505.24$ 08/31/24 -$ 228,127.56$ -$ 11,337,632.80$ 09/30/24 -$ 219,108.00$ -$ 11,556,740.80$ Current year summary -$ 707,327.84$ -$ 11,556,740.80$ Grand total 10,000,000.00$ 1,556,740.80$ -$ 11,556,740.80$ Sept. 30, 2024 The city's Section 115 Trust is a post-employment benefit trust that was established by City Council on September 12, 2023 (Resolution 2023-240). In connection with City Council Policy No. 86 and 98, the trust allows the city to stabilize pension cost volatility, maintain local control over the city's assets and earn a potentially higher rate of return than if the assets were kept in the General Fund. These funds are restricted and not pooled with other investment funds. Nov. 21, 2024 Item #1 Page 83 of 86 City of Carlsbad investment portfolio Investments of bond accounts Exhibit 11 Fund Type Investments Market yield Maturity date Par value Reserve fund Invesco Gov. & Agency - Institutional Money Market 4.84% 09/01/36 634,045.28$ Other Invesco Gov. & Agency - Institutional Money Market 4.84% 09/01/36 587.82$ Total 634,633.10$ Reserve fund Invesco Gov. & Agency - Institutional Money Market 4.84% 09/01/38 924,821.35$ Other Invesco Gov. & Agency - Institutional Money Market 4.84% 09/01/38 867.61$ Total 925,688.96$ Reserve Fund Bank of New York Mellon 0.00% 09/01/35 882,577.60$ Other Bank of New York Mellon 0.00% 09/01/35 25,963.71$ Total 908,541.31$ 2,468,863.37$ Communities Facilities District #3 Improvement Area 2, 2016 Bonds Sept. 30, 2024 Reassessment District 22-01 (College/Cannon) Communities Facilities District #3 Improvement Area 1, 2016 Bonds Total funds held in bond accounts Nov. 21, 2024 Item #1 Page 84 of 86 City of Carlsbad investment portfolio Affordable housing loan summary Exhibit 12 Borrower Development Purpose Issued Issued Outstanding Issued Repaid Balance Individual homebuyers Calavera Hills Sale 10/15/99 5 1 75,000.00$ 60,000.00$ 15,000.00$ Individual homebuyers Cherry Tree Walk Sales 06/28/99 42 11 453,600.00$ 334,800.00$ 118,800.00$ Individual homebuyers Serrano Sales 05/25/01 90 19 1,350,000.00$ 1,065,000.00$ 285,000.00$ Individual homebuyers Rancho Carlsbad Sales 05/20/99 22 4 752,533.00$ 691,075.74$ 61,457.26$ Individual homebuyers Mulberry at Bressi Ranch Sales 04/29/05 100 100 1,780,000.00$ -$ 1,780,000.00$ Individual homebuyers Village by the Sea Sales 10/28/05 11 11 180,000.00$ -$ 180,000.00$ Individual homebuyers Laguna Point Sale 07/06/06 3 2 140,000.00$ -$ 140,000.00$ Individual homebuyers The Bluffs Sale 06/14/07 10 10 200,000.00$ -$ 200,000.00$ Individual homebuyers Roosevelt Gardens Sales 08/30/07 11 11 1,583,423.00$ -$ 1,583,423.00$ 294 169 6,514,556.00$ 2,150,875.74$ 4,363,680.26$ Not-for-Profits Catholic Charities Homeless Shelter Shelter 35692 1 1 $ 200,000.00 $ - $ 200,000.00 Catholic Charities allowance (200,000.00)$ -$ (200,000.00)$ Catholic Charities Shelter Shelter 03/01/10 3 3 507,585.00$ -$ 507,585.00$ Catholic Charities allowance (507,585.00)$ -$ (507,585.00)$ Hospice of North Coast Property acquisition Hospice 02/27/13 1 1 1,065,000.00$ -$ 1,065,000.00$ Hospice allowance (1,065,000.00)$ -$ (1,065,000.00)$ 5 5 -$ -$ -$ Developers - Rentals Pacific Vista Las Flores Vista Las Flores Apts Rentals 02/27/01 1 1 363,948.00$ -$ 363,948.00$ CIC Calavera LP Mariposa Apts Rentals 09/15/01 1 1 $ 1,060,000.00 $ - $ 1,060,000.00 CIC La Costa LP Hunter's Pointe Rentals 08/19/08 1 1 1,932,000.00$ -$ 1,932,000.00$ CIC Glen Ridge LP Glen Ridge Rentals 10/05/09 1 1 1,014,000.00$ -$ 1,014,000.00$ Solutions for Change-Vista Terrace Property acquisition Rentals 06/28/12 1 1 780,000.00$ -$ 780,000.00$ Harding Street Neighbors LLP Property acquisition Rentals 03/14/13 1 1 7,408,000.00$ -$ 7,408,000.00$ Solutions for Change-Chestnut Property acquisition Rentals 12/19/14 1 1 2,646,000.00$ -$ 2,646,000.00$ Chelsea Investment Corp. / Quarry Creek CIC LLP Quarry Creek Rentals 08/31/16 1 1 1,280,000.00$ 1,030,362.09$ 249,637.91$ Carlsbad Veteran Housing LP Windsor Pointe Rentals 12/03/20 1 1 3,793,392.00$ -$ 3,793,392.00$ Bridge Housing Corporation Aviara East Rentals 03/01/23 1 1 2,790,000.00$ -$ 2,790,000.00$ USA Properties Fund / Carlsbad 685, L.P.Marja Acres Rentals 10/26/23 1 1 715,000.04$ 715,000.04$ 11 11 23,782,340.04$ 1,030,362.09$ 22,751,977.95$ DPCCA Various Purch assistance 06/25/09 22 15 255,518.00$ 82,750.00$ 172,768.00$ Individual home buyers Various Minor home repair 05/20/10 13 1 $ 2,154.80 $ - $ 2,154.80 Minor Home Repair allowance (2,154.80)$ -$ (2,154.80)$ 35 16 255,518.00$ 82,750.00$ 172,768.00$ Other Affordable Housing assistance Sept. 30, 2024 Nov. 21, 2024 Item #1 Page 85 of 86 City of Carlsbad investment portfolio Affordable housing loan summary Borrower Development Purpose Issued Issued Outstanding Issued Repaid Balance Sept. 30, 2024 Individual home buyers Sales 04/08/24 1 1 822,866.00$ -$ 822,866.00$ Individual home buyer allowance (822,866.00)$ (822,866.00)$ Individual home buyers Rose Bay Sale 08/23/13 1 1 229,775.00$ -$ 229,775.00$ Individual home buyers Sale 01/10/24 1 1 693,103.00$ -$ 693,103.00$ Individual home buyer allowance (693,103.00)$ (693,103.00)$ Individual home buyers Sale 09/17/24 1 1 346,256.00$ -$ 346,256.00$ Individual home buyer allowance (346,256.00)$ (346,256.00)$ 4 4 229,775.00$ -$ 229,775.00$ Total Housing Loans 347 209 30,782,189.04$ 3,263,987.83$ 27,518,201.21$ Individuals (non-development related) Nov. 21, 2024 Item #1 Page 86 of 86 FY 24-25 First Quarter Investment Review Zach Korach, Finance Director/Deputy City Treasurer November 21, 2024 ( City of Carlsbad PORTFOLIO REVIEW JULY 1, 2024 – SEPTEMBER 30, 2024 FY 24-25 Q1 – Investment Review •Investment summary of changes during quarter •Graph: classification changes beginning vs. ending of the quarter •Yield summary during quarter •Positions as of September 30, 2024 •Graph: four quarter portfolio view {city of Carlsbad INVESTMENT SUMMARY OF CHANGES OVER FIRST QUARTER •$52,107,809 maturities •$59,742,000 buys •$12,185,000 calls •$13,858,808 decrease in overnight cash •$18,409,617 net decrease in total portfolio •118 investment transactions FY 24-25 Q1 – Investment Review $- $10,000,000.00 $20,000,000.00 $30,000,000.00 $40,000,000.00 $50,000,000.00 $60,000,000.00 $70,000,000.00 Maturities Buys Calls FIRST QUARTER PORTFOLIO CHANGES BY INVESTMENT CLASS, PAR VALUE 4 FY 24-25 Q1 – Investment Review Certificates of Deposit Corporate Notes Federal Agency Treasury Coupon Supra- national Municipal Pass-through Cash & Pooled Beginning Balance $22,480,000 $122,990,000 $350,525,000 $55,250,000 $21,890,000 $101,745,000 $77,147,892 $150,827,368 Ending Balance $22,228,000 $126,990,000 $342,350,000 $52,250,000 $19,890,000 $104,560,000 $79,209,083 $136,968,560 Difference $(252,000) $4,000,000 $(8,175,000) $(3,000,000) $(2,000,000) $2,815,000 $2,061,191 $(13,858,808) $(50,000,000) $- $50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 $300,000,000 $350,000,000 $400,000,000 ■ ■ ■ .. .. .. ------ .. .. .. .. .. .. YIELD SUMMARY, WEIGHTED AVERAGE Sept. 2023Sept. 2024Aug. 2024July 2024 1.43%2.16%2.13%2.13%Securities 0.90%0.77%0.81%0.76%Pooled cash 2.33%2.93%2.94%2.89%Portfolio yield 5.555.295.415.43CAMP 3.534.584.584.52LAIF 4.603.583.713.97Treasury, 5 year FY 24-25 Q1 – Investment Review INVESTMENT POSITIONS AS OF SEPTEMBER 30, 2024 % of portfolio (book)Book valueMarket valuePar valueSecurities 2.5%22,225,321 22,003,758 22,228,000 Certificates of Deposit 14.5%126,956,918 124,783,077 126,990,000 Corporate Notes 38.8%340,440,761 334,446,669 342,350,000 Federal Agency Coupon Securities 5.9%51,860,349 51,402,828 52,250,000 Treasury Coupon Securities 2.3%19,883,948 19,744,428 19,890,000 Supranational 11.6%101,688,421 101,214,639 104,560,000 Municipal 8.9%78,196,942 78,306,684 79,209,083 Pass Through Securities 84.40%$ 741,252,660 $ 731,902,084 $ 747,477,083 Total securities % of portfolio (book)Cash value Cash and Pooled Cash 13.3%116,821,114 California Asset Management Program 0.2%1,867,515 Local Agency Investment Funds 2.1%18,279,931 Cash, overnight cash, custody 15.60%136,968,560 Total cash and pooled cash 100.0%$ 878,221,220 $ 868,870,644 $ 884,445,644 Total portfolio FY 24-25 Q1 – Investment Review FOUR QUARTER PORTFOLIO COMPARISON 7 FY 24-25 Q1 – Investment Review 2024 Q2 12/31/23 2024 Q3 03/31/24 2024 Q4 06/30/24 2025 Q1 09/30/24 PAR $863,099,767 $881,953,385 $902,855,260 $884,445,644 MARKET $831,721,031 $849,376,232 $871,929,110 $868,870,644 BOOK $859,452,707 $877,073,705 $897,056,042 $878,221,220 $780,000,000 $800,000,000 $820,000,000 $840,000,000 $860,000,000 $880,000,000 $900,000,000 $920,000,000 ■ ■ ■ [ I- I- NEXT STEPS •City Treasurer election results certification •FY 24-25 Second Quarter Investment Review – February 20, 2024 FY 24-25 Q1 – Investment Review {city of Carlsbad