Loading...
HomeMy WebLinkAbout2020-04-07; City Council; ; Report on City Investments as of Feb. 29, 2020~ CITY COUNCIL . ~ Staff Report Meeting Date: To: From: Staff Contact: April 7, 2020 Mayor and City Council Scott Chadwick, City Manager Craig Lindholm, City Treasurer craig.lindholm@carlsbadca.gov or 760-602-2473 /l ·LN CA Review L) ' I Laura Rocha, Deputy City Manager, Administrative Services laura.rocha@carlsbadca.gov or 760-602-2415 Subject: Report on City Investments as of Feb. 29, 2020 Recommended Action Accept and file Report on City Investments as of Feb. 29, 2020. 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 monthly. Discussion & Fiscal Analysis The city's pooled investment portfolio as of the month ending Feb. 29, 2020 is summarized below. Pooled Investment Portfolio (Cash and Securities) Par Value Investment Cost Amortized Cost (1) Market Value (2) Current Month $799,610,453 $803,624,089 $802,655,941 $812,267,690 Prior Month $802,577,215 $805,900,193 $805,064,604 $811,380,160 (11 The cost of investments adjusted for amortized premiums and discounts. (2) The amount at which the investments could be sold. Source of market va lue is Wells Fargo Bank's custodial report, as of Feb. 29, 2020. The equity portion of the various funds in the total portfolio is summarized in the graph on the next page. Fund balances are restricted for various purposes. See Exhibit 7 for a more detailed breakdown. April 7, 2020 Item #2 Page 1 of 18 Exhibit 8 shows that the investments out of compliance with the current policy had a subsequent change in credit rating. Ratings on three investments have dropped to less than the rating required by the Investment Policy. Corporate Notes require a double A (AA)/ single A (A) rating while mortgage backed securities require a double A (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. These 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. The pooled investment portfolio has the ability to meet the city's 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 (CEQA) Pursuant to Public Resources Code section 21065, this action does not constitute a "project" within the meaning of CEQA in that it has no potential to cause either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment, and therefore does not require environmental review. Public Notification and Outreach This item was noticed in accordance with the Ralph M . Brown Act and was available for viewing at least 72 hours prior to the posting of the agenda. 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. Cumulative Cash Income 5. Maturities, Purchases and Calls this Quarter 6. Detailed Investment Report 7. Fund Equity in Pooled Investments 8. Corporate Note and Mortgage Backed Security Ratings 9. Issuers Portfolio Allocation at Amortized Cost April 7, 2020 Item #2 Page 3 of 18 City of Carlsbad Investment Portfolio As of Feb. 29, 2020 Investments by Cost, Market Value, Cash Income, and Average Yield by Class Investment Cost Market Value Average Yield Class Current Month Prior Month FA $292,461,049 $296,261,912 FN 2,750,760 2,964,786 SN 36,146,764 35,040,525 TR 87,869,314 83,359,233 CN 220,391,752 205,786,940 CD 15,294,034 14,793,571 MBS (Agency) 3,964,226 1,930,995 MBS (Non-agency) Bank Account 61,668 247,805 Sweep 3,974,719 6,686,489 IRT 106,250 2,899,791 CAMP 1,000,384 1,000,000 LAIF 139,603,169 154,092,558 Total $803,624,089 $805,064,604 FA -Federal Agency Notes FN -Federal Discount Notes SN -Supranational TR -US Treasury CN -Corporate Notes CD -Certificate of Deposit Current Month $295,363,671 2,974,320 36,799,964 88,908,951 223,875,536 15,590,416 4,008,642 61,668 3,974,719 106,250 1,000,384 139,603,169 $812,267,690 Prior Month YTD Income Current Month $298,435,829 $ !;i,061,993 1.92% 2,965,170 1.75 35,442,115 304,020 1.89 83,854,705 907,941 1.66 208,769,724 2,554,047 4.04 15,037,326 470,189 2.31 1,948,649 4,456 1.85 0.00 247,805 0.30 6,686,489 68,896 1.44 2,899,791 7,296 0.60 1,000,000 384 1.73 154,092,558 2,021,558 1.91 $811,380,160 $11,400,782 2.47% MBS -Passthrough/Mortgage Backed Securities Bank Account -General Fund Cash account Sweep -General Fund Overnight Cash account IRT -Investment Cash account CAMP -California Asset Management Program LAIF -Local Area Investment Fund Prior Month 1.96% 1.75 1.90 1.74 3.91 2.35 2.00 0.00 0.30 1.48 0.60 1.76 1.94 2.43% m X :I: Ct! =i .... April 7, 2020 Item #2 Page 4 of 18 City of Carlsbad Investment Portfolio As of Feb. 29, 2020 Maturities by Classification and Length ofTime at Market Value Class Within 6 Months 7 Months to 1 Year 1 to 5 Years Total % Total FA $50,474,338 $33,261,358 $211,627,975 $295,363,671 36.36% FN 2,974,320 2,974,320 0.37 SN 1,998,180 2,609,038 32,192,746 36,799,964 4.53 TR 13,769,367 14,281,208 60,858,376 88,908,951 10.95 CN 16,809,500 20,579,145 186,486,891 223,875,536 27.56 (2) CD 1,439,912 1,247,354 12,903,150 15,590,416 1.92 MBS (Agency) 4,008,642 4,008,642 0.49 (3) MBS (Non-agency) 0.00 (4) Bank Account 106,250 106,250 0.01 Sweep 3,974,719 3,974,719 0.49 IRT 61,668 61,668 0.01 CAMP 1,000,384 1,000,384 0.12 LAIF 139,603,169 139,603,169 17.19 Totals $229,237,487 $74,952,423 $508,077,779 $812,267,690 100.0% % Totals 28.2% 9.2% 62.6% 100.0% Total within One Year $304,189,910 (1) 37.5% Policy: (1) Not less than $198,032,000 to mature within one year, two-thirds of current year operating budget $297,048,458. (2) Policy states that not more than 30% of portfolio is to be invested in corporate notes at time of purchase. (3) Policy states that not more than 20% of portfolio is to be invested in mortgage backed securities at time of purchasE (4) Total non-agency mortgage backed securities shall be limited to 5% of the city's portfolio. m X ::I: c:, =i N April 7, 2020 Item #2 Page 5 of 18 EXHIBIT 5 City of Carlsbad Investment Portfolio Maturities, Purchases, and Calls this Quarter Maturities CUSIP Issuer Settled Maturity Par Value Book Value Interest Total 3134G33T5 FHLMC 10/5/2015 1/9/2020 3,500,000 3,500,000 24,500 3,524,500 3137EAEE5 FHLMC 4/26/2027 1/17/2020 1,250,000 1,250,000 9,375 1,259,375 3137EAEE5 FHLMC 2/7/2019 1/17/2020 2,000,000 2,000,000 15,000 2,015,000 74267GUU9 Private Bank & Trust 1/23/2015 1/23/2020 247,000 247,000 2,366 249,366 26942ADEO Eagle Bank 7/24/2015 1/24/2020 249,000 249,000 368 249,368 33847EZ34 Flagstar Bank 1/26/2018 1/27/2020 247,000 247,000 15 247,015 66612AAMO Northfield Bank 1/27/2015 1/27/2020 249,000 249,000 2,071 251,071 3136G3P90 FNMA 7/28/2016 1/28/2020 4,850,000 4,850,000 29,100 4,879,100 06424XBT8 Bank Of Georgetown 1/30/2015 1/30/2020 249,000 249,000 2,071 251,071 3138Ll4F3 FNMAAM1721 12/26/2019 12/25/2022 3,300 3,300 3,739 7,039 554479DT9 Macias Savings Bank 2/6/2015 2/6/2020 247,000 247,000 2,055 249,055 64952WBY8 New York Life 4/9/2015 2/11/2020 2,000,000 2,000,000 19,500 2,019,500 64952WBY8 New York Life 1/20/2017 2/11/2020 2,000,000 2,000,000 19,500 2,019,500 3134G9CPO FHLMC 5/13/2016 2/13/2020 2,750,000 2,750,000 17,875 2,767,875 3133EFZT7 FFCB 2/24/2016 2/24/2020 1,000,000 1,000,000 7,000 1,007,000 3134G8JT7 FHLMC 2/24/2016 2/24/2020 1,750,000 1,750,000 13,125 1,763,125 88413QBB3 Third Federal 3/3/2015 2/26/2020 247,000 247,000 2,179 249,179 3134GAXC3 FHLMC 1/4/2017 2/28/2020 2,000,000 2,000,000 12,500 2,012,500 3138L14F3 FNMAAM1721 12/26/2019 2/25/2020 3,309 3,332 3,732 7,064 24,841,609 24,841,632 186,070 25,027,702 Purchases CUSIP Issuer Settled Maturity Payment Rate Par Value Dollar Price Book Value 31422BRJ1 FAMCA 1/6/2020 1/6/2023 7/6/2020 1.75% 2,000,000 100.000 2,000,000 94988J5Xl Wells Fargo Bank NA 1/6/2020 5/27/2022 5/27/2020 1.92% 3,000,000 101.334 3,040,020 45905U4Z4 IBRD 1/8/2020 12/15/2024 6/15/2020 1.70% 1,42S,OOO 100.000 1,425,000 61690URM4 Morgan Stanley Bank NA 1/9/2020 1/9/2025 7/9/2020 1.90% 247,000 100.000 247,000 3135GOT45 FNMA 1/9/2020 4/5/2022 4/5/2020 1.55% 2,500,000 100.711 2,517,775 3133XLPP2 FHLB 1/9/2020 6/10/2022 7/10/2020 1.56% 3,000,000 109.909 3,297,270 3134GUQ94 FHLMC 1/10/2020 1/10/2025 7/10/2020 1.80% 2,000,000 100.000 2,000,000 3134GUT91 FHLMC 1/15/2020 1/15/2025 7/15/2020 1.90% 2,000,000 100.000 2,000,000 3133ELHU1 FFCB 1/15/2020 7/15/2022 7/15/2020 1.59% 1,500,000 100.034 1,500,510 478160CJ1 Johnson & Johnson 1/15/2020 1/15/2025 7/15/2020 1.88% 1,820,000 103.428 1,882,381 313380GJO FHLB 1/15/2020 9/9/2022 3/9/2020 1.59% 2,000,000 101.059 2,021,180 931142DV2 Walmart Inc 1/16/2020 12/15/2024 6/15/2020 1.90% 2,000,000 103.390 2,067,790 45950VNR3 IFC 1/27/2020 1/15/2025 7/15/2020 1.63% 1,000,000 100.000 1,000,000 3138L1CU1 FN AM0982 2/4/2020 11/1/2022 3/25/2020 1.70% 2,000,000 101.828 2,036,563 912828Y20 US Treasury 2/6/2020 7/15/2021 7/15/2020 1.47% 3,000,000 101.632 3,048,960 94988J5Q6 Wells Fargo Bank 2/6/2020 7/23/2021 4/23/2020 1.74% 3,500,000 100.224 3,507,849 05580AUR3 BMW Bank 2/7/2020 2/7/2023 8/_7/2020 1.65% 247,000 100.000 247,000 3133ELMH4 FFCB 2/7/2020 5/6/2024 5/6/2020 1.78% 2,000,000 99.950 1,999,000 3130AJ3K3 FHLB 2/10/2020 2/10/2025 8/10/2020 1.87% 2,500,000 99.875 2,496,875 3134GVAT5 FHLMC 2/12/2020 2/12/2025 8/12/2020 1.80% 2,000,000 100.000 2,000,000 3134GVAS7 FHLMC 2/12/2020 8/12/2024 8/12/2020 1.80% 2,000,000 100.000 2,000,000 7954506G5 Sallie Mae Bank 2/12/2020 2/14/2022 8/12/2020 1.70% 247,000 100.000 247,000 17325FAS7 Citibank 2/13/2020 1/23/2024 7/23/2020 1.77% 2,500,000 106.987 2,674,670 17325FAS7 Citibank 2/13/2020 1/23/2024 7/23/2020 1.73% 2,000,000 107.130 2,142,600 3134GVBQO FHLMC 2/14/2020 2/14/2025 8/14/2020 1.85% 2,500,000 100.000 2,500,000 06406RAL1 Bank of NY Mellon 2/18/2020 10/24/2024 4/24/2020 1.82% 3,055,000 101.268 3,093,737 45905U5U4 IBRD 2/19/2020 1/27/2023 7/27/2020 1.73% 1,170,000 100.046 1,170,538 46632FRF4 JP Morgan 2/20/2020 6/20/2022 8/20/2020 1.78% 3,000,000 100.000 3,000,000 17325FAS7 Citibank 2/20/2020 1/23/2024 7/23/2020 1.78% 1,500,000 106.914 1,603,710 949495BC8 Wells Fargo Bank 2/21/2020 2/21/2023 3/21/2020 1.75% 249,000 100.000 249,000 478160CD4 Johnson & Johnson 2/24/2020 3/3/2022 3/3/2020 1.47% 2,000,000 101.488 2,029,760 3133ELNJ9 FFCB 2/28/2020 2/28/2024 8/28/2020 1.55% 2,500,000 100.000 2,500,000 20726ABK3 Congressional Bank 2/28/2020 2/28/2025 3/28/2020 1.75% 249,000 99.750 248,378 912828YKO US Treasury 2/27/2020 10/15/2022 4/15/2020 1.14% 1,500,000 100.605 1,509,082 07815AAZO Bell Bank Corp 2/27/2020 2/27/2025 3/27/2020 1.60% 249,000 100.000 249,000 64,458,000 3,548 65,552,647 April 7, 2020 Item #2 Page 8 of 18 Calls CUSIP Issuer Settled Maturity Redeemed Par Value Book Value Interest Total 3133EHEN9 FFCB 08/29/2027 04/03/2020 01/09/2020 2,000,000 1,999,964 8,907 2,008,907 3133EF4A2 FFCB 08/18/2017 04/19/2022 01/10/2020 2,000,000 1,996,521 8,640 2,008,640 3133EHYB3 FFCB 12/01/2017 09/12/2022 01/10/2020 1,250,000 1,242,705 7,949 1,257,949 3134GBS86 FHLMC 05/06/2019 10/16/2020 01/16/2020 1,500,000 1,493,948 6,938 1,506,938 3134G9N52 FHLMC 01/11/2019 07/19/202101/19/2020 2,000,000 1,985,727 2,000,000 3133EJ554 FFCB 01/22/2019 01/22/2024 01/22/2020 1,750,000 1,750,000 1,750,000 3134GTGT4 FHLMC 04/24/2019 01/24/2023 01/24/2020 1,750,000 1,750,000 1,750,000 3134GTHH9 FHLMC 04/24/2019 01/24/2022 01/24/2020 2,000,000 2,000,000 2,000,000 3130A8MQ3 FHLB 08/03/2018 10/12/2022 01/27/2020 595,238 579,777 3,255 598,493 3130A8N41 FHLB 04/24/2018 07/27/2021 01/27/2020 1,400,000 1,380,550 1,400,qoo 3135GOT37 FNMA 04/23/2018 10/27/2020 01/27/2020 1,750,000 1,741,376 8,313 1,758,313 3134GBYZ9 FHLMC 10/02/2017 07/27/2021 01/27/2020 3,000,000 3,001,767 3,000,000 3130AFTA5 FHLB 01/30/2019 01/30/2024 01/30/2020 2,500,000 2,500,000 2,500,000 3133EGFP5 FFCB 06/05/2018 06/15/2022 02/05/2020 1,000,000 979,776 2,542 1,002,542 3130ABHF6 FHLB 09/12/2017 06/01/2021 02/06/2020 2,500,000 2,499,557 8,464 2,508,464 48128HGB8 JP Morgan 02/15/2019 02/15/2024 02/15/2020 245,000 245,000 245,000 3133EF3R6 FFCB 04/26/2016 01/19/2021 02/21/2020 3,250,000 3,249,419 3,250,000 3133EHMT7 FFCB 06/15/2017 06/14/202102/24/2020 1,760,000 1,760,000 1,760,000 3133EHYU1 FFCB 05/01/2018 09/13/2021 02/26/2020 2,000,000 1,974,960 2,000,000 34,250,238 34,131,048 55,006 34,305,244 April 7, 2020 Item #2 Page 9 of 18 EXHIBIT 6 City of Carlsbad Investment Summary As of Februarv 29, 2020 Settlement Maturity Type Issuer Par Invested Yield Interest Expected Return Federal Investments 05/23/16 03/15/20 FA PEFCO 3,000,000.00 3,099,000.00 1.358% 158,250.00 3,257,250.00 05/04/18 03/15/20 FA TENN 1,700,000.00 1,692,265.00 2.500% 79,028.75 1,771,293.75 06/12/18 03/15/20 FA TENN 1,250,000..00 1,244,200.00 2.520% 55,253.13 1,299,453.13 06/11/18 03/15/20 FA TENN 1,250,000.00 1,244,622.50 2.500% 54,908.75 1,299,531.25 07/13/16 04/13/20 FA FNMA 5,000,000.00 5,000,000.00 1.250% 234,375.00 5,234,375.0_0 01/06/17 04/13/20 FA FFCB 1,000,000.00 992,000.00 1.652% 53,772.22 1,045,772.22 12/15/17 04/17/20 FA FAMCA 1,500,000.00 1,487,706.00 2.000% 69,830.67 1,557,536.67 07/28/16 04/28/20 FA FNMA 3,750,000.00 3,750,000.00 1.250% 175,781.25 3,925,781.25 11/03/17 05/15/20 FA FHLB 1,650,000.00 1,650,000.00 1.700% 71,060.00 1,721,060.00 05/22/17 05/22/20 FA FHLMC 1,200,000.00 1,200,000.00 1.625% 58,500.00 1,258,500.00 05/24/17 05/29/20 FA FHLMC 2,250,000.00 2,255,062.50 1.548% 104,523.44 2,359,585.94 06/27/17 05/29/20 FA FHLMC 1,600,000.00 1,604,000.00 1.537% 71,977.78 1,675,977.78 06/05/17 06/05/20 FA FHLB 1,300,000.00 1,300,000.00 1.600% 62,400.00 1,362,400.00 06/08/17 06/05/20 FA FHLB 2,500,000.00 2,500,000.00 1.600% 120,000.00 2,620,000.00 06/12/15 06/12/20 FA FHLB 3,000,000.00 3,000,000.00 1.750% 262,500.00 3,262,500.00 02/23/16 06/12/20 FA FHLB 2,000,000.00 2,039,980.00 1.271% 110,617.22 2,150,597.22 04/15/16 06/26/20 FA .FNMA 2,150,000.00 2,159,632.00 1.240% 112,192.37 2,271,824.37 07/13/16 07/13/20 FA FFCB 4,250,000.00 4,250,000.00 1.190% 202,300.00 4,452,300.00 04/13/18 07/13/20 FA FFCB 2,000,000.00 1,948,000.00 2.485% 110,050.00 2,058,050.00 04/27/17 07/27/20 FA FHLMC 1,600,000.00 1,600,000.00 1.700% 88,400.00 1,688,400.00 01/21/16 07/29/20 FA FHLB 2,500,000.00 2,549,375.00 1.378% 157,516.67 2,706,891.67 09/07/16 08/24/20 FA FFCB 3,000,000.00 2,998,260.00 1.335% 158,710.00 3,156,970.00 04/19/16 08/28/20 FA FHLMC 1,000,000.00 1,017,760.00 1.230% 54,152.50 1,071,912.50 06/08/16 09/11/20 FA FHLB 3,000,000.00 3,206,160.00 1.214% 161,121.25 3,367,281.25 10/12/16 09/11/20 FA FHLB 1,800,000.00 1,808,975.18 1.244% 87,893.57 1,896,868.75 10/12/16 10/06/20 FA FHLB 1,800,000.00 1,797,300.00 1.414% 101,287.50 1,898,587.50 04/26/17 10/16/20 FA FNMA 1,300,000.00 1,332,019.00 1.618% 74,057.39 1,406,076.39 07/22/16 11/27/20 FA FNMA 3,250,000.00 3,316,612.00 1.165% 166,507.79 3,483,119.79 11/27/17 11/27/20 FA FHLMC 1,500,000.00 1,500,000.00 1.875% 84,375.00 1,584,375.00 06/15/17 11/30/20 FA FNMA 1,100,000.00 1,113,618.00 1.630% 62,404.22 1,176,022.22 06/14/16 12/14/20 FA FFCB 2,250,000.00 2,250,000.00 1.540% 155,925.00 2,405,925.00 06/21/16 12/21/20 FA FFCB 2,000,000.00 2,000,000.00 1.550% 139,500.00 2,139,500.00 03/10/17 01/15/21 FA FAMCA 1,580,000.00 1,576,287.00 2.063% 125,285.22 1,701,572.22 07/19/16 01/19/21 FA FHLB 3,500,000.00 3,500,000.00 1.400% 220,500.00 3,720,500.00 09/09/16 01/25/21 FA FAMCA 2,000,000.00 2,018,640.00 1.550% 117,071.11 2,135,711.11 10/12/16 02/15/21 FA TENN 3,000,000.00 3,315,660.00 1.370% 189,058.75 3,504,718.75 08/16/17 02/16/21 FA FNMA 2,000,000.00 2,000,000.00 1.750% 122,500.00 2,122,500.00 01/10/19 02/23/21 FA FFCB 1,500,000.00 1,502,895.00 2.605% 82,942.50 1,585,837.50 12/12/18 02/24/21 FA FHLB 1,000,000.00 977,940.00 2.790% 60,560.00 1,038,500.00 02/26/16 02/26/21 FA FHLB 480,000.00 480,000.00 1.690% 74,495.20 554,495.20 02/14/18 03/12/21 FA FHLB 1,500,000.00 1,500,768.00 2.357% 108,778.87 1,609,546.87 06/12/18 03/12/21 FA FHLB 1,000,000.00 976,760.00 2.631% 71,365.00 1,048,125.00 03/26/19 03/26/21 FA FHLMC 2,000,000.00 2,000,000.00 2.500% 100,000.00 2,100,000.00 09/29/17 03/26/21 FA FHLMC 2,535,000.00 2,531,197.50 1.794% 158,701.56 2,689,899.06 01/08/19 04/09/21 FA FFCB 1,500,000.00 1,504,860.00 2.550% 86,377.50 1,591,237.50 10/26/17 04/26/21 FA FHLMC 1,975,000.00 1,974,012.50 1.865% 128,868.75 2,102,881.25 05/25/16 05/25/21 FA FFCB 4,000,000.00 3,997,600.00 1.673% 334,400.00 4,332,000.00 10/12/16 06/11/21 FA FHLB 1,500,000.00 1,559,427.00 1.370% 97,979.25 1,657,406.25 06/15/17 06/15/21 FA FHLMC 1,400,000.00 1,400,000.00 1.800% 100,800.00 1,500,800.00 10/26/16 07/14/21 FA FHLB 2,500,000.00 2,476,850.00 1.328% 155,806.25 2,632,656.25 02/16/17 07/26/21 FA FHLMC 1,400,000.00 1,392,580.00 2.000% 124,086.67 1,516,666.67 12/19/17 08/12/21 FA FHLMC 1,000,000.00 967,646.98 2.050% 73,384.27 1,041,031.25 03/27/19 09/27/21 FA FHLB 1,500,000.00 1,500,000.00 2.550% 95,625.00 1,595,625.00 10/28/16 10/07/21 FA FNMA 2,500,000.00 2,491,075.00 1.450% 178,794.79 2,669,869.79 01/03/18 10/29/21 FA FAMCA 2,000,000.00 1,951,928.00 2.285% 172,294.22 2,124,222.22 11/29/16 11/29/21 FA FFCB 3,000,000.00 3,000,000.00 1.760% 264,000.00 3,264,000.00 04/12/17 12/10/21 FA FHLB 2,000,000.00 2,003,620.00 1.834% 171,171.67 2,174,791.67 09/10/19 12/13/21 FA FFCB 2,000,000.00 2,017,240.00 1.490% 67,673.33 2,084,913.33 11/04/19 01/03/22 FA FAMCA 2,000,000.00 2,002,035.34 2.169% 91,697.67 2,093,733.01 11/12/19 01/13/22 FA FHLMC 1,000,000.00 1,015,200.00 1.658% 36,324.31 1,051,524.31 03/25/19 02/03/22 FA FFCB 2,500,000.00 2,483,900.00 2.264% 161,019.44 2,644,919.44 11/14/19 02/14/22 FA FFCB 2,000,000.00 2,000,000.00 1.793% 79,650.00 2,079,650.00 02/23/17 02/23/22 FA FAMCA 2,600,000.00 2,609,204.00 2.025% 263,796.00 2,873,000.00 03/01/19 03/01/22 FA FFCB 2,000,000.00 2,000,000.00 2.550% 153,000.00 2,153,000.00 03/29/17 03/29/22 FA FHLMC 1,500,000.00 1,500,000.00 2.265% 170,625.00 1,670,625.00 05/25/17 04/05/22 FA FNMA 1,600,000.00 1,600,581.01 1.867% 145,252.32 1,745,833.33 01/09/20 04/05/22 FA FNMA 2,500,000.00 2,517,775.00 1.550% 87,172.92 2,604,947.92 04/23/19 04/08/22 FA FHLMC 1,500,000.00 1,501,562.50 2.500% 109,375.00 1,610,937.50 04/27/17 04/27/22 FA FHLMC 3,500,000.00 3,545,920.00 2.345% 413,455.00 3,959,375.00 April 7, 2020 Item #2 Page 10 of 18 Settlement 01/09/20 12/23/19 01/08/18 07/03/19 01/15/20 04/17/18 08/28/19 12/01/17 07/05/19 01/15/20 09/28/17 03/09/18 · 10/05/18 08/03/18 11/15/19 09/10/19 04/24/18 07/05/19 01/06/20 03/22/19 05/22/19 06/04/18 06/28/19 07/24/18 07/30/18 09/13/19 09/13/19 08/24/18 09/18/18 10/10/18 09/03/19 02/27/19 04/16/19 09/18/18 09/28/18 10/17/18 02/07/19 05/09/19 11/27/18 12/13/19 06/28/19 12/18/19 05/09/19 12/28/18 01/29/19 02/26/19 03/06/19 02/28/20 03/08/19 04/09/19 04/09/19 04/11/19 04/10/19 02/07/20 05/09/19 05/20/19 12/19/19 08/28/19 08/28/19 07/30/19 07/02/19 06/27/19 ·08/08/19 02/12/20 09/03/19 08/30/19 09/23/19 10/15/19 10/28/19 10/18/19 11/15/19 11/19/19 01/10/20 01/15/20 02/10/20 02/12/20 02/14/20 Maturity Type 06/10/22 FA FHLB 06/23/22 FA FHLB 07 /01/22 FA FHLMC 07/01/22 FA FHLMC 07/15/22 FA FHLMC 08/23/22 FA FFCB 08/26/22 FA FFCB 09/09/22 FA FHLB 09/09/22 FA FHLB 09/09/22 FA FHLB 09/28/22 FA FNMA 10/05/22 FA FNMA 10/05/22 FA FNMA 10/12/22 FA FHLB 10/21/22 FA FHLMC 12/09/22 FA FHLB 12/09/22 FA FHLB 12/23/22 FA FHLMC 01/06/23 FA FAMCA 03/10/23 FA FHLB 04/28/23 FA FHLMC 06/26/23 FA FHLMC 06/26/23 FA FHLMC 06/29/23 FA FHLMC 07 /28/23 FA FHLMC 08/14/23 FA FFCB 08/28/23 FA FFCB 08/24/23 FA lHLB 09/05/23 FA FFCB 09/05/23 FA FFCB . 09/08/23 FA FHLB 09/12/23 FA FNMA 09/12/23 FA FNMA 09/18/23 FA FHLB 09/28/23 FA FHLB 10/02/23 FA FFCB 10/23/23 FA FFCB 11/08/23 FA FFCB 11/27/23 FA FHLB 11/27 /23 FA FHLMC 12/05/23 FA FFCB 12/18/23 FA FHLMC 12/20/23 FA FFCB 12/28/23 FA FHLB 01/29/24 FA FHLB 02/26/24 FA FHLB 02/27 /24 FA FFCB 02/28/24 FA FFCB 03/08/24 FA FHLB 04/05/24 FA FFCB 04/15/24 FA FHLB 04/15/24 FA FHLMC 04/15/24 FA FHLMC 05/06/24 FA FFCB 05/07 /24 FA FHLB 05/20/24 FA FHLMC 06/03/24 FA FFCB 06/30/24 FA FFCB 06/25/24 FA FFCB 06/26/24 FA FHLMC 07/02/24 FA FHLMC 07 /15/24 FA PEFCO 07 /26/24 FA FFCB 08/12/24 FA FHLMC 09/03/24 FA FFCB 09/10/24 FA FFCB 09/23/24 FA FHLMC 10/15/24 FA FFCB 10/15/24 FA FHLMC 10/16/24 FA FHLB 11/01/24 FA FAMCA 11/19/24 FA FHLB 01/10/25 FA FHLMC 01/15/25 FA FHLMC 02/10/25 FA FHLB 02/12/25 FA FHLMC 02/14/25 FA FHLMC Issuer Sub Total FA Par 3,000,000.00 1,500,000.00 1,500,000.00 2,500,000.00 1,500,000.00 2,000,000.00 1,500,000.00 1,750,000.00 1,800,000.00 2,000,000.00 2,500,000.00 1,000,000.00 1,000,000.00 654,761.91 2,000,000.00 1,500,000.00 2,250,000.00 1,500,000.00 2,000,000.00 2,000,000.00 5,000,000.00 1,250,000.00 3,000,000.00 1,000,000.00 2,500,000.00 1,800,000.00 1,000,000.00 1,750,000.00 1,000,000.00 2,300,000.00 2,000,000.00 1,000,000.00 1,750,000.00 1,000,000.00 1,250,000.00 2,500,000.00 1,000,000.00 2,000,000.00 1,800,000.00 1,965,000.00 1,500,000.00 1,500,000.00 1,000,000.00 2,000,000.00 1,500,000.00 2,500,000.00 1,500,000.00 2,500,000.00 3,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 2,500,000.00 3,000,000.00 1,470,000.00 1,183,000.00 2,000,000.00 2,500,000.00 2,500,000.00 2,500,000.00 2,000,000.00 4,000,000.00 2,500,000.00 1,000,000.00 2,000,000:00 2,500,000,00 2,250,000.00 2,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 2,500,000.00 2,000,000.00 2,500,000.00 290,742,761.91 Invested 3,297,270.00 1,500,000.00 1,500,000.00 2,500,000.00 1,500,510.00 1,912,000.00 1,499,565.00 1,739,692.50 1,874,106.00 2,021,180.00 2,500,000.00 971,120.00 962,570.00 628,440.48 2,002,000.00 1,670,736.00 2,215,102.50 1,500,000.00 2,000,000.00 ·2,028,220.00 5,000,000.00 1,250,000.00 3,000,000.00 1,000,000.00 2,500,000.00 1,796,580.00 997,650.00 1,750,000.00 991,290.00 2,266,190.00 2,069,108.00 1,016,210.00 1,783,757.50 999,250.00 1,250,000.00 2,493,150.00 1,017,530.00 2,001,700.00 1,800,000.00 . 1,964,017.50 1,569,280.50 1,500,000.00 1,052,900.00 2,000,000.00 1,501,125.00 2,500,000.00 1,498,950.00 2,500,000.00 3,100,851.00 1,994,380.00 2,000,000.00 1,000,000.00 2,000,000.00 1,999,000.00 1,005,320.00 2,500,000.00 2,997,750.00 1,517,378.10 1,237,524.47 2,004,000.00 2,500,000.00 2,565,850.00 2,532,125.00 2,000,000.00 4,000,000.00 2,572,420.00 1,000,000.00 2,000,000.00 2,496,692.71 2,250,250.00 1,999,720.00 3,000,000.00 2,000,000.00 2,000,000.00 2,496,875.00 2,000,000.00 2,500,000.00 292,461,049.27 Yield 1.560% 1.730% 2.220% 2.000% 1.586% 2.750% 1.860% 2.130% 1.786% 1.590% 2.000% 2.000% 3.000% 2.900% 1.825% 1.630% 2.500% 2.000% 1.750% 2.375% 2.625% 3.050% 2.050% 3.100% 3.070% 1.650% 1.982% 3.125% 2.990% 3.125% 1.485% 2.495% 2.410% 3.076% 3.200% 3.050% 2.602% 2.280% 3.350% 1.788% 1.870% 1.850% 3.500% 3.100% 2.859% 2.800% 2.610% 1.550% 2.530% 2.360% 2.742% 2.791% 2.791% 1.783% 2.287% 2.700% 1.830% 1.457% 1.457% 2.150% 2.000% 1.900% 1.582% 1.800% 2.000% 1.480% 2.100% 1.920% 1.917% 2.000% 1.793% 2.070% 1.800% 1.900% 1.866% 1.800% 1.850% 1.923% Interest Expected 120,084.17 64,875.00 149,202.50 149,722.22 59,490.00 233,290.00 83,530.83 177,335.28 104,644.00 84,820.00 249,861.11 120,324.44 117,430.00 719,801.71 107,120.00 84,545.25 295,053.75 104,416.67 105,000.00 189,946,67 516,250.00 190,625.00 246,000.00 152,847.22 383,323.61 116,300.00 78,350.00 273,437.50 147,698.89 349,548.89 121,551.72 114,362.92 187,617.50 153,750.00 200,000.00 384,922.92 123,803.33 205,172.22 301,500.00 138,947.33 127,682.83 111,000.00 108,586.11 310,000.00 214,500.00 350,000.00 195,821.25 155,000.00 386,649.00 234,725.56 245,000.00 112,500.00 250,000.00 151,351.67 114,546.67 337,500.00 246,860.00 103,884.90 85,320.92 229,013.89 250,000.00 243,292.36 197,583.33 162,000.00 400,000.00 189,024.44 10,500.00 192,000.00 235,989.58 224,500.00 177,887.78 310,500.00 180,000.00 190,000.00 233,125.00 180,000.00 231,250.00 24,237,156.98 Return 3,417,354.17 1,564,875.00 1,649,202.50 2,649,722.22 1,560,000.00 2,145,290.00 1,583,095.83 1,917,027.78 1,978,750.00 2,106,000.00 2,749,861.11 1,091,444.44 1,080,000.00 1,348,242.19 2,109,120.00 1,755,281.25 2,510,156.25 1,604,416.67 2,105,000.00 2,218,166.67 5,516,250.00 1,440,625.00 3,246,000.00 1,152,847.22 2,883,323.61 1,912,880.00 1,076,000.00 2,023,437.50 1,138,988.89 2,615,738.89 2,190,659.72 1,130,572.92 1,971,375.00 1,153,000.00 1,450,000.00 2,878,072.92 1,141,333.33 2,206,872.22 2,101,500.00 2,102,964.83 1,696,963.33 1,611,000.00 1,161,486.11 2,310,000.00 1,715,625.00 2,850,000.00 1,694,771.25 2,655,000.00 3,487,500.00 2,229,105.56 2,245,000.00 1,112,500.00 2,250,000.00 2,150,351.67 1,119,866.67 2,837,500.00 3,244,610.00 1,621,263.00 1,322,845.39 2,233,013.89 2,750,000.00 2,809,142.36 2,729,708.33 2,162,000.00 4,400,000.00 2,761,444.44 1,010,500.00 2,192,000.00 2,732,682.29 . 2,474,750.00 2,177,607.78 3,310,500.00 2,180,000.00 2,190,000.00 2,730,000.00 2,180,000.00 2,731,250.00 316,698,206.25 April 7, 2020 Item #2 Page 11 of 18 Settlement Maturity Type Issuer Par Invested Yield Interest Expected Return 10/23/15 10/15/20 FN RFCSP 3,000,000.00 2,750,760.00 1.750% 249,240.00 3,000,000.00 Sub Total FN 3,000,000.00 2,750,760.00 Federal Investments -----,,.29,.,3~,7c-4cc2~,7,.,6.,.1.""9.,.1----2,.,9,.,5~,2.,.1~1,~8'C'09c-.cc27c--1.1soo% _____ ~.,.24.,.9~,2.,.4~0~.0~0 ____ ~3""'"00"'0",o"'o"'o'"'.oo..c... 24,486,396.98 319,698,206.25 Supranationals 08/03/17 11/08/18 01/08/18 01/08/18 12/18/17 10/10/17 02/08/19 05/09/19 01/18/18 01/24/18 02/19/20 10/25/19 02/15/19 08/29/19 10/10/19 12/10/19 11/13/19 01/08/20 01/27/20 US Treasury 12/22/16 01/10/17 05/24/16 12/19/16 12/02/16 06/07/17 09/22/15 10/28/16 12/02/16 01/13/17 01/05/16 05/05/16 01/20/17 02/17/17 05/09/17 08/19/16 12/16/16 10/28/16 12/16/16 02/06/20 01/20/17 02/20/18 12/02/16 03/10/17 05/19/17 02/14/18 11/17/16 11/18/16 11/22/16 01/06/17 02/03/17 11/27/19 01/20/17 04/23/19 03/02/17 11/20/19 05/15/17 08/25/17 08/31/17 11/20/19 02/27/20 11/28/17 07/30/19 Corporate Notes 08/10/20 SN IBRD 09/04/20 SN IBRD 10/05/20 SN IBRD 01/18/22 SN IADB 01/26/22 SN IBRD 10/07 /22 SN IBRD 10/24/22 SN IFC 10/24/23 SN IADB 01/18/23 SN IADB 01/18/23 SN IADB 01/27/23 SN IBRD 10/25/23 SN IBRD 02/lS/24 SN IBRD 08/28/24 SN IBRD 09/23/24 SN IBRD 09/23/24 SN IBRD 11/13/24 SN IBRD 12/lS/24 SN IBRD 01/1S/2S SN IFC 2,000,000.00 1,972,100.00 1.600% 9S,837.SO 2,067,937.50 1,100,000.00 1,074,711.00 2.930% 57,859.27 1,132,570.27 1,500,000.00 1,486,500.00 2.164% 88,765.62 1,575,265.62 2,000,000.00 1,988,880.00 2.270% 182,300.56 2,171,180.56 2,500,000.00 2,485,325.00 2.150% 219,952.78 2,705,277.78 1,300,000.00 1,290,907.89 2.024% 130,763.88 1,421,671.77 1,500,000.00 1,470,780.00 2.553% 140,553.33 1,611,333.33 2,000,000.00 2,058,280.00 2.300% 205,886.67 2,264,166.67 1,700,000.00 1,702,652.00 2.467% 209,848.00 1,912,500.00 1,000,000.00 997,670.00 2.550% 126,913.33 1,124,583.33 1,170,000.00 1,170,538.20 1.734% 59,635.55 1,230,173.75 3,000,000.00 3,000,000.00 1.700% 204,000.00 3,204,000.00 3,000,000.00 3,000,000.00 2.625% 468,750.00 3,468,750.00 2,000,000.00 2,006,920.00 1.428% 142,996.67 2,149,916.67 3,500,000.00 3,510,500.00 2.136% 370,863.89 3,881,363.89_ 3,000,000.00 3,006,000.00 1.941% 310,066.67 3,316,066.67 1,500,000.00 1,500,000.00 2.050% 153,750.00 1,653,750.00 1,425,000.00 1,425,000.00 1.700% 119,577.30 1,544,577.30 1,000,000.00 1,000,000.00 1.625% 80,708.33 1,080,708.33 Supranationals -===3=6='=19=5,.,0=0=0=.0=0=====3=6"-,1=4=6,=7=64=.=09===1=.8=9=4=%======3=,3=6=9'-',0=2=9.=3=5====='3"'9"',5"'1"'5'=,7"'9""3.='44= 02/29/20 TR US Treasury 1.375% 02/29/20 TR US Treasury 1.375% 04/30/20 TR US Treasury 1.375% 06/30/20 TR US Treasury 1.625% 07/31/20 TR US Treasury 1.625% 07 /31/20 TR US Treasury 1.625% 08/31/20 TR US Treasury 2.125% 10/31/20 TR US Treasury 1.375% 10/31/20 TR US Treasury 1.375% 10/31/20 TR US Treasury 1.375% 12/31/20 TR US Treasury 2.375% 12/31/20 TR US Treasury 1. 75% 02/28/21 TR US Treasury 1.12S% 02/28/21 TR US Treasury 1.125% 03/31/21 TR US Treasury 1.25% 04/30/21 TR US Treasury 1.375% 05/31/21 TR US Treasury 2.000% 06/30/21 TR US Treasury 1.125% 06/30/21 TR US Treasury 1.125% 07 /15/21 TR US Treasury 2.625% 07/31/21 TR US Treasury 1.125% 08/31/21 TR US Treasury 1.125% 09/30/21 TR US Treasury 2.125% 09/30/21 TR US Treasury 1.125% 09/30/21 TR US Treasury 1.125% 09/30/21 TR US Treasury 2.125% 10/31/21 TR US Treasury 2.00% 10/31/21 TR US Treasury 2.00% 11/15/21 TR US Treasury 2.00% 12/31/21 TR US Treasury 2.125% 12/31/21 TR US Treasury 2.125% 12/31/21 TR US Treasury 2.125% 01/31/22 TR US Treasury 1.50% 02/28/22 TR US Treasury 1.875% 03/31/22 TR US Treasury 1. 750% 04/15/22 TR US Treasury 2.25% 05/15/22 TR US Treasury 1. 750% 07 /31/22 TR US Treasury 1.875% 08/31/22 TR US Treasury 1.875% 10/15/22 TR US Treasury 1.375% 10/15/22 TR US Treasury 1.375% 11/15/22 TR US Treasu·ry 1.625% 02/28/23 TR US Treasury 2.625% 2,200,000.00 2,184,531.25 1.602% 111,901.07 2,296,432.32 1,400,000.00 1,395,520.00 1.480% 64,835.66 1,460,355.66 2,300,000.00 2,315,093.75 1.204% 109,343.75 2,424,437.50 1,350,000.00 1,345,570.31 1.721% 81,926.29 1,427,496.60 1,soo,000.00 1,soo,000.00 1.625% 89,286.68 1,ss9,286.68 2,000,000.00 2,011,320.00 1.440% 91,028.07 2,102,348.07 3,000,000.00 3,085,500.00 2.097% 229,396.98 3,314,896.98 1,750,000.00 1,759,570.31 1.235% 86,875.85 1,846,446.16 1,200,000.00 1,186,200.00 1.680% 78,341.44 1,264,541.44 1,300,000.00 1,289,234.38 1.601% 78,611.61 1,367,845.99 4,000,000.00 4,127,500.00 1.705% 346,195.00 4,473,695.00 2,000,000.00 2,049,174.00 1.205% 113,710.62 2,162,884.62 2,750,000.00 2,673,515.63 1.831% 203,567.42 2,877,083.05 1,225,000.00 1,194,853.52 1.760% 85,690.25 1,280,543.77 1,400,000.00 1,374,786.00 1.730% 93,349.25 1,468,135.25 3,000,000.00 3,037,662.00 1.100% 156,145.74 3,193,807.74 2,250,000.00 2,250,000.00 2.000% 200,521.98 2,450,521.98 2,500,000.00 2,477,400.00 1.325% 154,053.80 2,631,453.80 2,650,000.00 2,547,312.50 2.022% 238,058.93 2,785,371.43 3,000,000.00 3,048,960.00 1.475% 64,405.38 3,113,365.38 1,500,000.00 1,448,203.13 1.925% 145,113.79 1,593,316.92 2,000,000.00 1,911,080.00 2.450% 168,167.24 2,079,247.24 1,600,000.00 1,615,500.00 1.913% 148,615.38 1,764,115.38 1,200,000.00 1,150,500.00 2.078% 111,028.85 1,261,528.85 1,500,000.00 1,464,375.00 1.691% 109,303.28 1,573,678.28 1,500,000.00 1,486,406.25 2.387% 129,096.84 1,615,503.09 2,000,000.00 2,030,000.00 1.683% 168,121.55 2,198,121.55 2,000,000.00 2,028,360.00 1.700% 169,651.15 2,198,011.15 2,000,000.00 2,016,562.50 1.825% 182,664.02 2,199,226.52 4,000,000.00 4,052,128.00 1.850% 371,463.16 4,423,591.16 1,850,000.00 1,867,632.81 1.920% 175,237.36 2,042,870.17 2,000,000.00 2,022,656.25 1.572% 66,270.38 2,088,926.63 3,000,000.00 2,928,555.00 2.000% 297,790.11 3,226,34S.11 1,500,000.00 1,481,015.63 1.875% 99,232.33 1,580,247.96 3,000,000.00 2,963,925.00 2.000% 302,757.69 3,266,682.69 1,200,000.00 1,219,125.00 1.571% 45,719.26 1,264,844.26 2,000,000.00 1,985,625.00 1.901% 189,375.00 2,175,000.00 1,250,000.00 1,257,346.25 1.750% 108,249.03 1,365,595.28 3,000,000.00 3,019,290.00 1.740% 261,960.00 3,281,250.00 1,500,000.00 1,491,720.00 1.570% 68,126.31 1,559,846.31 1,soo,000.00 1,so9,os2.03 1.141% 45,185.39 1,554,267.42 1,000,000.00 980,950.00 2.030% 99,716.44 1,080,666.44 3,000,000.00 3,085,572.00 1.800% 275,650.83 3,361,222.83 USTreasury====8=7=,8=7=5=,0=0=0.=0=0=====8~7 ... ,8_6.,.9, .. 3=13=.5=0===1=.6=6=0=%=-----6=,4=1=5=,7=4=1.=16=====-9-4=,2=8=5,.,.0=54=.=66= April 7, 2020 Item #2 Page 12 of 18 Settlement 09/25/15 11/04/15 11/03/15 05/24/16 11/03/15 09/25/15 09/24/15 11/10/15 06/10/16 11/13/17 01/07/19 06/29/17 02/26/18 04/28/16 07/26/16 09/16/16 11/18/19 11/18/19 06/13/18 05/26/16 04/17/17 05/14/17 02/06/20 09/13/16 02/07/17 02/22/18 10/14/16 01/10/18 12/19/19 11/07/16 10/10/17 12/04/17 12/23/19 12/20/17 11/29/19 03/07/19 02/24/20 03/06/17 05/23/17 12/06/17 01/08/18 10/09/18 02/19/i9 01/06/20 08/09/18 12/11/19 02/20/20 12/19/19 08/24/17 01/16/19 07/01/19 11/06/17 11/09/18 05/02/19 01/18/18 10/10/19 01/04/18 09/17/18 11/18/19 12/06/17 01/14/19 12/23/19 01/24/18 . 08/29/19 09/12/19 07/31/19 10/04/19 03/20/18 04/18/18 04/25/18 05/07/18 12/18/18 05/16/19 05/02/18 05/09/18 08/06/16 07/25/18 02/19/19 Maturity Type Issuer 03/03/20 CN Chevron 03/06/20 CN Exxon Mobil 05/06/20 CN Apple Inc. 05/15/20 CN IBM Corp 08/07 /20 CN 3M Campany 09/01/20 CN Johnson & Johnson 09/15/20 CN Automatic.Data Processing 11/03/20 CN Microsoft 11/03/20 CN Microsoft 11/13/20 CN Apple Inc. 12/15/20 CN Wal-Mart 12/29/20 CN Toyota 01/15/21 CN Wells Fargo Bank NA 03/01/21 CN Exxon Mobil 03/01/21 CN Exxon Mobil 04/08/21 CN Toyota 04/26/21 CN US Bank NA 04/26/21 CN JP Morgan Chase Bank 05/16/21 CN Chevron 05/19/21 CN .Alphabet Inc. 05/19/21 CN Alphabet Inc. 05/19/21 CN Alphabet Inc. 07/23/21 CN Wells Fargo Bank_NA 08/08/21 CN Microsoft 08/08/21 CN Microsoft 08/08/21 CN Microsoft 09/01/21 CN Coca Cola Company 09/01/21 CN Coca Cola Company 10/22/21 CN Wells Fargo Bank 11/01/21 CN IBM Corp 11/03/21 CN Procter & Gamble 11/15/21 CN Colgate-Palmolive 11/16/21 CN US Bank NA 02/06/22 CN Microsoft 02/09/22 CN Apple Inc. 03/03/22 CN Johnson & Johnson 03/03/22 CN Johnson & Johnson 03/06/22 CN Exxon Mobil 05/11/22 CN Apple Inc. 05/15/22 CN Berkshire Hathaway 05/15/22 CN Berkshire Hathaway 05/15/22 CN Berkshire Hathaway 05/17/22 CN Toyota 05/27 /22 CN Wells Fargo Bank NA 06/01/22 CN Blackrock Inc. 06/15/22 CN Cisco Systems Inc 06/20/22 CN JP Morgan Chase Bank 06/26/22 CN 3M Company 07/13/22 CN Toyota 07/13/22 CN Toyota 07/13/22 CN Toyota 08/11/22 CN Procter & Gamble 08/11/22 CN Procter & Gamble 08/11/22 CN Procter & Gamble 09/21/22 CN Novartis Capital Corp 11/03/22 CN Microsoft 11/15/22 CN Colgate-Palmolive 11/15/22 CN Colgate-Palmolive 11/18/22 CN JP Morgan Chase Bank 11/29/22 CN Toyota 12/15/22 CN Wal-Mart 12/15/22 CN Wal-Mart 01/26/23 CN Toyota 02/01/23 CN Colgate-Palmolive 02/11/23 CN Berkshire Hathaway 02/23/23 CN Apple Inc. 03/15/23 CN 3M Company 03/15/23 CN Berkshire Hathaway 03/15/23 CN Berkshire Hathaway 03/15/23 CN Berkshire Hathaway 04/11/23 CN Wal-Mart 04/11/23 CN Wal-Mart 04/28/23 CN Bank of New York Mellon 05/01/23 CN Colgate-Palmolive 05/03/23 CN Apple Inc. 06/26/23 CN Wal-Mart 06/26/23 CN Wal-Mart 06/26/23 CN Wal-Mart Par 2,800,000.00 5,000,000.00 4,000,000.00 1,500,000.00 3,500,000.00 1,000,000.00 4,000,000.00 5,000,000.00 1,500,000.00 2,soo,000:00 1,500,000.00 3,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 3,000,000.00 1,000,000.00 1,500,000.00 3,250,000.00 1,000,000.00 2,000,000.00 2,000,000.00 3,500,000.00 6,000,000.00 2,000,000.00 1,500,000.00 3,600,000.00 1,500,000.00 4,000,000.00 1,000,000.00 2,000,000.00 2,250,000.00 3,000,000.00 1,250,000.00 2,000,000.00 1,250,000.00 2,000,000.00 2,000,000.00 3,300,000.00 1,503,000.00 1,000,000.00 1,100,000.00 2,000,000.00 3,000,000.00 1,000,000.00 500,000.00 3,000,000.00 2,000,000.00 1,500,000.00 1,500,000.00 2,500,000.00 1,800,000.00 1,900,000.00 2,000,000.00 1,500,000.00 2,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 2,250,000.00 2,720,000.00 2,000,000.00 3,000,000.00 1,000,000.00 1,250,000.00 3,500,000.00 1,762,000.00 1,000,000.00 1,750,000.00 2,000,000.00 1,000,000.00 1,000,000.00 i,000,000.00 4,666,000.00 4,000,000.00 1,750,000.00 1,500,000.00 1,000,000.00 Invested 2,790,704.00 5,057,700.00 4,028,000.00 1,503,000.00 3,554,215.00 1,058,028.49 4,029,600.00 5,018,550.00 1,539,450.00 2,497,900.00 1,481,805.00 3,000,000.00 1,982,700.00 . 2,042,900.00 1,034,050.00 3,031,680.00 1,019,220.00 1,507,650.00 3,175,770.00 1,094,000.00 2,136,700.00 2,133,400.00 3,507,848.93 5,995,740.00 1,947,120.00 1,441,912.50 3,581,496.00 1,549,740.00 4,122,000.00 1,052,600.00 1,982,100.00 2,271,141.00 3,091,620.00 1,254,025.00 2,017,980.00 1,236,787.50 2,029,760.00 2,003,380.00 3,318,150.00 1,540,770.39 1,023,300.00 1,091,810.50 2,000,000.00 3,040,020.00 1,011,600.00 515,230.00 3,000,000.00 2,010,920.00 1,547,160.00 1,483,770.00 2,551,875.00 1,799,161.20 1,826,627.70 1,986,800.00 1,489,500.00 2,087,293.89 1,982,400.00 1,935,820.00 3,000,000.00 2,250,000.00 2,653,088.00 2,032,580.00 3,000,000.00 1,011,600.00 1,296,137.50 3,592,680.00 1,800,613.35 983,890.00 1,719,130.00 1,953,300.00 974,100.00 969,800.00 2,061,800.00 4,443,179.84 3,862,600.00 1,763,895.00 1,512,000.00 1,025,140.00 Yield 2.039% 1.630% 1.821% 1.573% 1.660% 1.718% 2.064% 1.920% 1.370% 2.029% 2.545% 2.000% 2.914% 1.750% 1.440% 1.659% 1.710% 1.911% 2.920% 1.629% 1.854% 1.876% 1:741% 1.565% 2.170% 2.730% 1.660% 2.344% 1.851% 1.792% 1.930% 2.200% 1.730% 2.316% 1.730% 2.620% 1.470% 2.360% 2.153% 2.400% 2.432% 3.220% 3.083% 1.920% 3.050% 1.755% 1.775% 1.777% 2.119% 3.129% 2.090% 2.160% 3.250% 2.150% 2.560% 1.573% 2.443% 3.077% 3.077% 2.125% 3.020% 1.770% 2.750% 1.600% 1.878% 2.039% 1.620% 3.101% 3.140% 3.270% 3.121% 3.301% 2.670%. 3.140% 3.150% 3.220% 3.220"/4 2.770% Interest Expected 253,026.51 357,097.78 332,666.66 93,890.62 279,062.78 87,504.84 418,150.00 479,505.56 92,466.67 1S2,100.00 73,453.33 210,000.00 167,377.77 172,263.67 68,038.55 228,303.33 26,105.00 58,956.17 273,861.25 86,545.14 159,744.44 159,620.83 110,314.37 460,218.33 192,466.11 138,558.33 290,839.00 130,522.50 145,041.67 91,916.67 156,072.22 196,449.62 104,742.50 119,808.33 76,381.11 97,275.00 61,365.00 236,320.00 358,820.00 162,504.36 107,283.33 126,989.50 200,044.66 167,839.75 117,306.25 22,436.67 124,250.00 89,857.78 158,056.67 162,880.00 160,458.33 185,201.30 226,786.74 154,025.00 178,400.00 75,092.22 236,475.00 251,430.00 189,000.00 238,132.81 317,442.89 107,375.56 412,500.00 55,133.33 81,883.33 262,540.83 97,611.27 153,228.06 267,083.54 315,588.89 151,558.33 141,054.17 214,700.00 712,477.98 615,800.00 276,993.89 238,891.66 122,665.56 Return 3,043,730.51 5,414,797.78 4,360,666.66 1,596,890.62 3,833,277.78 1,145,533.33 4,447,750.00 5,498,055.56 1,631,916.67 2,650,000.00 1,555,258.33 3,210,000.00 2,150,077.77 2,215,163.67 1,102,088.55 3,259,983.33 1,045,325.00 1,566,606.17 3,449,631.25 1,180,545.14 2,296,444.44 2,293,020.83 3,618,163.30 6,455,958.33 2,139,586.11 1,580,470.83 3,872,335.00 1,680,262.50 4,267,041.67 1,144,516.67 2,138,172.22 2,467,590.62 3,196,362.50 1,373,833.33 2,094,361.11 1,334,062.50 2,091,125.00 2,239,700.00 3,676,970.00 1,703,274.75 1,130,583.33 1,218,800.00 2,200,044.66 3,207,859.75 1,128,906.25 537,666.67 3,124,250.00 2,100,777.78 1,705,216.67 1,646,650.00 2,712,333.33 1,984,362.50 2,053,414.44 2,140,825.00 1,667,900.00 2,162,386.11 2,218,875.00 2,187,250.00 3,189,000.00 2,488,132.81 2,970,530.89 2,139,955.56 3,412,500.00 1,066,733.33 1,378,020.83 3,855,220.83 1,898,224.62 1,137,118.06 1,986,213.54 2,268,888.89 1,125,658.33 1,110,854.17 2,276,500.00 5,155,657.82 4,478,400.00 2,040,888.89 1,750,891.66 1,147,805.56 April 7, 2020 Item #2 Page 13 of 18 Settlement Maturity Type Issuer Par Invested Yield Interest Expected Return 07/24/18 07/24/23 CN US Bank NA l,2S0,000.00 1,251,625.00 3.371% 210,756.94 1,462,381.94 01/24/19 07/24/23 CN US Bank NA 1,000,000.00 1,010,000.00 3.156% 143,000.00 1,153,000.00 02/28/19 07/24/23 CN US Bank NA 1,800,000.00 1,835,100.00 2.916% 234,520.00 2,069,620.00 12/11/18 07/24/23 CN US Bank NA 2,500,000.00 2,489,250.00 3.371% 32,347.22 2,521,597.22 02/28/19 08/14/23" CN Wells Fargo Bank NA 2,000,000.00 2,040,700.00 3.058% 276,038.89 2,316,738.89 10/01/18 08/14/23 CN Wells.Fargo Bank NA 1,500,000.00 1,500,000.00 3.549% 259,297.92 1,759,297.92 12/23/19 11/20/23 CN State Street Corporation 2,000,000.00 2,130,440.00 1.958% 158,776.67 2,289,216.67 01/28/19 12/05/23 CN Johnson &Johnson 1,500,000.00 1,541,250.00 2.765% 204,421.87 1,745,671.87 03/07/19 01/08/24 CN Toyota 1,000,000.00 1,017,865.00 2.950% 144,144.72 1,162,009.72_ 01/16/20 01/15/24 CN Wal-Mart 2,000,000.00 2,067,790.00 1.900% 192,646.11 2,260,436.11 05/16/19 01/23/24 CN Citibank 1,000,000.00 1,034,870.00 2.836% 136,173.06 1,171,043.06 02/13/20 01/23/24 CN Citibank 2,500,000.00 2,674,670.00 1.770% 185,260.56 2,859,930.56 02/13/20 01/23/24 CN Citibank 2,000,000.00 2,142,600.00 1.733% 145,344.44 2,287,944.44 02/20/20 01/23/24 CN Citibank 1,500,000.00 1,603,710.00 1.780% 111,183.75 1,714,893.75 10/11/19 02/01/24 CN JP Morgan Chase Bank 1,765,000.00 1,914,133.18 2.000% 145,339.92 2,059,473.10 10/08/19 03/07/24 CN Microsoft 1,500,000.00 1,584,745.83 1.604% 103,633.34 1,688,379.17 08/29/19 03/18/24 CN Blackrock Inc. 2,000,000.00 2,162,500.00 1.640% 156,194.44 2,318,694.44 10/28/19 03/18/24 CN Blackrock Inc. 1,000,000.00 1,071,360.00 1.801% 82,251.11 1,153,611.11 11/14/19 03/18/24 CN Blackrock Inc. 1,000,000.00 1,070,864.44 1.923% 81,191.12 1,152,055.56 07/31/19 05/13/24 CN JP Morgan Chase Bank 2,000,000.00 2,119,320.00 2.300% 227,471.67 2,346,791.67 10/17/19 08/22/24 CN Amazon.com Inc. 2,500,000.00 2,615,544.44 1.860% 223,761.12 2,839,305.56 08/22/19 08/22/24 CN Amazon.com Inc. 2,000,000.00 2,087,280.00 1.879% 192,097.78 2,279,377.78 02/18/20 10/24/24 CN Bank of NY Mellon 3,055,000.00 3,093,737.40 1.816% 261,721.85 3,355,459.25 12/23/19 12/23/24 CN JP Morgan Chase Bank 3,500,000.00 3,500,000.00 2.200% 390,775.03 3,890,775.03 01/15/20 01/15/25 CN Johnson & Johnson 1,820,000.00 1,882,380.50 1.586% 176,494.50 2,058,875.00 Certificate of Deposit 04/22/15 05/13/15 06/29/15 07/31/15 08/02/17 08/11/15 09/10/15 09/22/15 10/19/15 12/14/17 01/15/16 05/09/18 06/10/16 06/21/18 06/22/17 06/23/16 06/24/16 06/30/16 09/21/17 01/12/18 01/18/17 01/20/17 01/24/19 02/12/20 06/07/17 07/31/17 08/16/17 08/30/17 09/29/17 09/14/17 10/18/17 10/23/19 12/22/17 01/11/19 01/29/18 02/07/20 02/21/20 04/24/18 05/08/19 05/16/18 06/20/18 07/31/18 07/31/18 02/13/19 09/26/18 09/28/18 11/15/18 11/14/18 11/15/18 11/19/18 05/16/19 05/24/19 06/28/19 Corporate Notes---~2;;17~,8;;4;;1;;,o;;;o;;;o;;.0;;;0----;;;22;;;0;;,3;;;9;;;1;;,7,;;;5;;;1.:;;58;;,..--4;;.0;;;3;;;5;;%~----~19;;,5;;;5;;;0;;,6;;7,;;;5;;;·3:;;5----;;;23;;;9;;,9;;4;;2b;,4;;2;;;6·:;;9~3 04/22/20 CD Marlin Business Bank 05/13/20 CD World Foremost Bank 06/29/20 CD First Source Bank 07/31/20 CD Institution For Savings 08/03/20 CD Wex Bank 08/25/20 CD Investor Bank 09/10/20 CD Merrick Bank 09/16/20 CD Barclays Bank 10/13/20 CD Comenity Cap Bank 12/14/20 CD Ally Bank 01/15/21 CD Investors Cmnty Bank 05/10/21 CD Connectone Bank 06/07/21 CD Ubs Bank Usa 06/21/21 CD Mercantil Bank 06/22/21 CD Lakeside Bank 06/23/21 CD East Boston Saving 06/24/21 CD First Business Bk 06/30/21 CD FirstTechnology Federal 09/21/21 CD Pinacle Bank Tn 01/12/22 CD LCA Sank Corporation 01/18/22 CD Mb Financial Bank 01/20/22 CD First Natl Bank 01/24/22 CD Dollar Bank 02/14/22 CD Sallie Mae Bank 06/07/22 CD Mechantile Bank Of 07/29/22 CD KS State Bank 08/16/22 CD Everbank 08/30/22 CD Willamette Valley Bank 09/29/22 CD Allegiane Bank Texs 09/14/22 CD First Bank Of 10/18/22 CD Beneficial Bank 10/11/22 CD Goldman Sachs Bank USA 12/22/22 CD Industrial & Com I Bak China 01/11/23 CD Sterling Bank 01/30/23 CD Suntrust Bank 02/07/23 CD BMW Bank 02/21/23 CD Wells Fargo Bank 04/24/23 CD Citibank 05/08/23 CD Bank3 05/16/23 CD Belmont Savings Bank 06/20/23 CD RBC Bank 07/31/23 CD Bank Of New England 07/31/23 CD Medallion Bank Utah 08/14/23 CD First Missouri State Bank 09/26/23 CD Bank Midwest 09/28/23 CD Bank OfBaroda .10/30/23 CO National Cooperative Bank 11/14/23 CD Bank Hapoalim Bm 11/15/23 CD Morgan Stanley Pvt Bank 11/29/23 CD State Bank Of India 05/16/24 CD Enterprise Bank 05/24/24 CD Eagle Bank 06/28/24 CD First State Bank Dequeen 247,000.00 200,000.00 247,000.00 249,000.00 247,000.00 247,000.00 249,000.00 248,000.00 249,000.00 247,000.00 249,000.00 249,000.00 249,000.00 246,000.00 249,000.00 248,000.00 248,000.00 248,000.00 249,000.00 246,000.00 249,000.00 249,000.00 246,000.00 247,000.00 247,000.00 245,000.00 247,000.00 249,000.00 249,000.00 247,000.00 247,000.00 247,000.00 249,000.00 246,000.00 246,000.00 247,000.00 249,000.00 246,000.00 249,000.00 245,000.00 249,000.00 249,000.00 249,000.00 246,000.00 245,000.00 245,000.00 245,000.00 245,000.00 245,000.00 245,000.00 246,000.00 249,000.00 249,000.00 247,000.00 200,000.00 246,382.50 249,000.00 247,000.00 247,000.00 248,377.50 248,000.00 249,000.00 247,000.00 249,000.00 249,000.00 249,000.00 246,000.00 249,000.00 248,000.00 248,000.00 248,000.00 249,000.00 246,000.00 249,000.00 249,000.00 246,000.00 247,000.00 247,000.0U 245,000.00 247,000".00 249,000.00 249,000.00 247,000.00 247,000.00 247,180.01 249,000.00 246,000.00 245,508.00 247,000.00 249,000.00 246,000.00 249,000.00 245,000.00 249,000.00 249,000.00 249,000.00 246,000.00 245,000.00 245,000.00 245,000.00 245,000.00 245,000.00 245,000.00 246,000.00 249,000.00 249,000.00 1.600% 2.000% 1.904% 2.050% 1.850% 2.000% 1.910% 2.200% 2.000% 2.102% 1.850% 2.850% 1.650% 3.000% 1.900% 1.500% 1.500% 1.750% 2.000% 2.300% 2.050% 2.050% 2.850% 1.700% 2.100% 2.100% 2.200% 2.100% 2.151% 2.150% 2.150% 1.900% 2.500% 3.100% 2.792% 1.650% 1.750% 3.002% 2.336% 3.052% 3.150% 3.252% 3.150% 2.850% 3.150% 3.300% 3.450% 3.502% 3.550% 3.600% 2.600% 2.500% 2.300% 19,760.00 20,000.00 23,465.00 25,522.50 13,721.19 24,700.00 23,655.00 27,190.31 24,818.14 15,561.00 23,032.50 21,309.21 20,508.73 22,140.00 18,924.00 18,600.00 18,600.00 21,700.00 19,920.00 22,632.00 25,522.50 25,522.50 21,033.00 8,432.52 25,935.00 25,710.71 27,170.00 26,145.00 26,767.50 26,552.50 26,552.50 13,718.98 31,125.00 30,504.00 34,547.50 12,237.67 13,084.44 36,900.00 24,900.00 37,362.50 39,217.50 40,462.50 40,462.50 31,549.50 38,587.50 40,425.00 41,891.98 42,875.00 · 43,487.50 44,100.00 31,980.00 31,125.00 28,635.00 266,760.00 220,000.00 269,847.50 274,522.50 260,721.19 271,700.00 272,032.50 275,190.31 273,818.14 262,561.00 272,032.50 270,309.21 269,508.73 268,140.00 267,924.00 266,600.00 266,600.00 269,700.00 268,920.00 268,632.00 274,522.50 274,522.50 267,033.00 255,432.52 272,935.00 270,710.71 274,170.00 275,145.00 275,767.50 273,552.50 273,552.50 260,898.99 280,125.00 276,504,00 280,055.50 259,237.67 262,084.44 282,900.00 273,900.00 282,362.50 · 288,217.50 289,462.50 289,462.50 277,549.50 283,587.50 285,425.00 286,891.98 287,875.00 288,487.50 289,100.00 277,980.00 280,125.00 277,635.00 April 7, 2020 Item #2 Page 14 of 18 Settlement Maturity Type Issuer Par Invested Yield Interest Expected Return 07/31/19 07/31/24 CD Capital One 247,000.00 247,000.00 2.250% 27,787.50 274,787.50 08/13/19 08/13/i4 CD HSBC Bank 246,000.00 246,000.00 2.300% 28,290.00 274,290.00 08/30/19 08/30/24 CD Washington Federal 249,000.00 249,000.00 2.000% 24,900.00 273,900.00 09/13/19 09/13/24 CD Enerbank Usa 249,000.00 249,000.00 1.750% 21,787.50 270,787.50 09/18/19 09/30/24 CD Celtic Bank 249,000.00 249,208.75 1.700% 20,747.50 269,956.25 11/26/19 11/26/24 CD Raymond James Bank NA 247,000.00 247,000.00 1.850% 22,872.54 269,872.54 01/09/20 01/09/25 CD Morgan Stanley Bank NA 247,000.00 247,000.00 1.900% 23,490.72 270,490.72 02/27/20 02/27/25 CD Bell Bank Corp 249,000.00 249,000.00 1.600% 19,941.88 268,941.88 02/28/20 02/28/25 CD Congressional Bank 249,000.00 248,377.50 1.750% 22,433.88 270,811.38 Certificate of Deposit 15,296,000.00 15,294,034.26 2.306% 1,632,533.90 16,926,568.16 Mortgage Backed Securities (Agency) 12/26/19 12/01/22 NM FNMAAM1721 1,914,501.22 1,927,663.41 2.001% 54,190.20 1,981,853.61 02/04/20 11/01/22 NM FNMAAM0982 2,000,000.00 2,036,562.50 1.704% 27,844.88 2,064,407.38 Mortgage Backed Securities (Agency} 3,914,501.22 3,964,225.91 1.848% 82,035.08 4,046,260.99 Cash Cash Wells Fargo Bank -General 106,250.00 106,250.00 0.300% 26.20 106,276.20 Cash Sweep Account 3,974,718.99 3,974,718.99 1.480% 4,834.54 3,979,553.53 Cash Wells Fargo Bank-.Custody 61,668.41 61,668.41 0.600% 30.83 61,699.24 Cash CAMP 1,000,384.26 1,000,384.26 1.730% 1,422.46 1,001,806.72 Cash LAIF City 70,853,256.16 70,853,256.16 1.910% 112,774.77 70,966,030.93 Cash LAIF CMWD 62,749,912.34 62,749,912.34 1.910% 99,876.94 62,849,789.28 Cash LAIF CPFA 6,000,000.00 6,000,000.00 1.910% 9,550.00 6,009,550.00 Cash LAIF CPIC 1.910% Cash 144,746,190.16 144,746,190.16 1.895% 228,515.75 144,974,705.91 GRAND TOTAL 799,610,453.29 803,624,088.77 2.474% 55,764,927.57 859,389,016.34 April 7, 2020 Item #2 Page 15 of 18 City of Carlsbad Investment Portfolio Fund Equity in Pooled Investments As of Feb. 29, 2020 Cash Balance by Fund: General Special Revenue Capital Projects: General Capital Construction Traffic Impact Fees Public Facilities Fees Park Development Transnet Taxes Drainage Fees Special Districts Infrastructure Replacement Gas Tax Capital Project Subtotal Enterprise: Carlsbad Municipal Water District Sewer Fund Solid Waste Storm Water Golf Course Enterprise Subtotal Internal Service Trust and Agency Total General Ledger Balance** Reconciling Adjustments (1) 46,147,344 24,283,660 27,734,344 12,119,626 7,624,628 5,852,871 107,856,692 123,303,891 15,406,397 139,394,462 48,576,366 6,503,604 8,083,543 1,407,170 Total Treasurer's Investment Portfolio at Amortized Cost **Figures based on best estimate at the time report run on 3/3/2020. 127,041,874 38,074,353 370,329,453 203,965,145 47,418,785 16,525,532 803,355,142 (699,201) 802,655,941 {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 the cash basis. Accrued interest, amortized premium or discounts and outstanding checks and deposits in transit are not included in the treasurer's summary. Differences between the time journal entries are posted and the time this report is produced may also be a component of the adjustment. EXHIBIT 7 April 7, 2020 Item #2 Page 16 of 18 City of Carlsbad Investment Portfolio Corporate Note and Mortgage Backed Security Ratings As of Feb. 29, 2020 Corporate Notes Moody's S&P Fitch Outlook 3M Company Al A+ Stable/Negative Alphabet Inc. Aa2 AA+ Stable Amazon.com Inc. A3 AA-A+ Positive/Stable/Positive Apple Inc. Aal AA+ Stable Automatic Data Processing Aa3 AA Stable Bank of New York Mellon Al A AA-Stable Berkshire Hathaway Aa2 AA AA-Stable Blackrock Inc. Aa3 AA-Stable Chevron Aa2 AA Stable Cisco Systems Inc. Al AA-Stable Citibank Aa3 A+ A+ Stable Coca Cola Company Al A+ A Stable Colgate-Palmolive Aa3 AA-Stable Exxon Mobil Aaa AA+ Negative IBM Corp. A2 A Stable/Negative Johnson & Johnson Aaa AAA Negative/Stable JP Morgan Chase Bank A2 A-AA-Stable Microsoft Aaa AAA AA+ Stable Novartis Capital Corp Al AA-AA-Stable Procter & Gamble Aa3 AA-Stable State Street Corporation Al A AA-Stable Toyota Aa3 AA-A+ Negative/Stab I e/Sta b I e US Bank NA Al A+ AA-Stable Wal-Mart Aa2 AA AA Stable Wells Fargo Bank NA Aa2 A+ AA-Stable Mortgage Backed Securities Moody's S&P Fitch Outlook FNMA (AM1721) Aaa AAA Stable FNMA (AM0982) Aaa AAA Stable Ratings of corporate notes must be AA or better by one and A or better another of the three: Moody's, S&P, or Fitch. Ratings of mortgage backed securities must be AA or better by one of the three: Moody's, S&P, or Fitch. Investments with Subsequent Changes in Credit Rating * EXHIBIT 8 Corporate Notes Moody's S&P Fitch Maturity Date Purchased Book Value 3M Company Al A+ Coca Cola Company IBM Corp. Al A2 A+ A A 03/15/23 09/01/21 11/01/21 * All investments were in compliance with the city's investment policy when initially purchased. 10/04/19 01/10/18 · 11/07/16 8,882,855 5,114,856 2,517,810 The city's investment policy allows the city treasurer to determine the course of action that would correct exceptions to the policy. All current exceptions are paying interest at the required times. The principal of all investments are 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. April 7, 2020 Item #2 Page 17 of 18 City of Carlsbad Investment Portfolio Issuers Portfolio Allocation at Amortized Cost As of Feb . 29, 2020 Corporate Notes 3M Company Alphabet Inc. Amazon.com Inc. Apple Inc. Automatic Data Processing Bank of New York Mellon Berkshire Hathaway Blackrock Inc. Chevron Cisco Systems Inc. Citibank Coca Cola Company Colgate-Palmolive Exxon Mobil IBM Corp Johnson & Johnson JP Morgan Chase Bank Microsoft Novartis Capital Corp Procter & Gamble State Street Corporation Toyota US Bank NA Wal-Mart Wells Fargo Bank NA Mortgage Backed Securities (Agency) FNMA Federal Agencies Federal Agricultural Mortgage Corp. Federal Farm Credit Bank Federal Home Loan Bank Federal Home Loan Mortgage Corp. Federal National Mortgage Assoc. Private Export Funding Corp. RFCO STRIPS Tennessee Valley Authority Other Supranational US Treasury Certificate of Deposits Cash Total Portfolio Amortized Cost $ Amortized Cost $ 8,882,855 5,104,270 4,675,305 19,314,659 4,003,239 5,142,986 9,610,411 5,278,427 6,019,171 513,916 7,445,765 5,114,856 11,741,998 10,017,981 2,517,810 7,689,486 14,999,807 19,274,206 1,494,234 7,634,438 2,124,321 19,824,390 10,676,099 14,510,312 16,180,472 Amortized Cost 3,964,226 Amortized Cost 15,663,182 76,953,106 79,189,151 74,693,758 32,433,956 5,558,270 2,968,622 7,269,411 Amortized Cost 36,213,082 87,916,588 15,294,983 144,746,190 802,655,941 ========== * No more than 5% may be invested with a single issuer. **There are no percentage limits on federal agency issuers. EXHIBIT 9 Portfolio Allocation* 1.11% 0.64% 0.58% 2.41% 0.50% 0.64% 1.20% 0.66% 0.75% 0.06% 0.93% 0.64% 1.46% 1.25% 0.31% 0.96% 1.87% 2.40% 0.19% 0.95% 0.26% 2.47% 1.33% 1.81% 2.02% Portfolio Allocation* 0.49% Portfolio Allocation** 1.95% 9.59% 9.87% 9.31% 4.04% 0.69% 0.37% 0.91% Portfolio Allocation 4.51% 10.95% 1.91% 18.03% April 7, 2020 Item #2 Page 18 of 18