HomeMy WebLinkAbout2023-08-22; City Council; ; Report on City Investments as of June 30, 2023CA Review JRT
Meeting Date:
To:
From:
Staff Contact:
Subject:
Districts:
Aug. 22, 2023
Mayor and City Council
Scott Chadwick, City Manager
Craig Lindholm, City Treasurer
craig.lindholm@carlsbadca.gov, 442-339-2472
Laura Rocha, Deputy City Manager, Administrative Services
laura.rocha@carlsbadca.gov, 442-339-2415
Report on City Investments as of June 30, 2023
All
Recommended Action
Accept and file Report on City Investments as of June 30, 2023.
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 June 30, 2023, is summarized
below.
Current month Prior month
Par value1 $874,350,106 $876,506,101
Investment cost $880,334,154 $883,064,838
Amortized cost2 $874,704,150 $877,523,225
Market value3 $830,832,607 $835,762,911
(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 Wells Fargo Bank’s custodial report.
The equity portion of the various funds in the total portfolio is summarized in the graph below.
Fund balances are restricted for various purposes (See Exhibit 7 for a more detailed
breakdown).
Aug. 22, 2023 Item #7 Page 1 of 22
Pooled investment interest income
Fiscal year to date Current month Prior month
Cash income $16,168,150 $1,759,471 $1,532,137
The cash income received is adjusted for any received interest previously purchased.
Pooled investment performance
Average life (years) Yield4 Modified duration
April 2023 1.79 2.09% 1.61
May 2023 1.76 2.21% 1.57
June 2023 1.73 2.22% 1.55
(4) 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 Feb. 7, 2023; 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.
Exhibit 8 shows the investments out of compliance with the current policy that experienced a
subsequent change in credit rating. Ratings on five investments have dropped to less than the
rating required by the Investment Policy since their initial purchase. 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. These investments are paying interest at the required
Capital projects
$376
Enterprise
$204
General
$185
Internal service
$66
Special revenue
$33
Fiduciary
$9
Fund equity in pooled investments
June 30, 2023
($ in millions)
Aug. 22, 2023 Item #7 Page 2 of 22
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.
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. Cumulative cash income
5. Maturities, calls, and purchases this quarter
6. Detailed investment report
7. Fund equity in pooled investments
8. Security ratings and outlooks
9. Portfolio allocation at amortized cost by issuer
10. Investment of bond reserve accounts
11. Affordable housing loan summary
Aug. 22, 2023 Item #7 Page 3 of 22
Ci
t
y
o
f
C
a
r
l
s
b
a
d
i
n
v
e
s
t
m
e
n
t
p
o
r
t
f
o
l
i
o
As
o
f
J
u
n
e
3
0
,
2
0
2
3
In
v
e
s
t
m
e
n
t
s
b
y
c
o
s
t
,
m
a
r
k
e
t
v
a
l
u
e
,
c
a
s
h
i
n
c
o
m
e
,
a
n
d
a
v
e
r
a
g
e
y
i
e
l
d
b
y
c
l
a
s
s
In
v
e
s
t
m
e
n
t
c
o
s
t
Ma
r
k
e
t
v
a
l
u
e
Av
e
r
a
g
e
y
i
e
l
d
Cl
a
s
s
C
u
r
r
e
n
t
m
o
n
t
h
P
r
i
o
r
m
o
n
t
h
C
u
r
r
e
n
t
m
o
n
t
h
P
r
i
o
r
m
o
n
t
h
Y
T
D
i
n
c
o
m
e
C
u
r
r
e
n
t
m
o
n
t
h
P
r
i
o
r
m
o
n
t
h
FA
$
3
3
2
,
0
2
1
,
0
1
2
$
3
3
0
,
5
2
1
,
0
1
2
$
3
0
9
,
3
2
6
,
1
6
1
$
3
0
8
,
3
3
0
,
6
1
3
$
3
,
6
9
6
,
6
5
0
1.
3
5
%
1.
3
3
%
SN
2
0
,
0
6
3
,
3
3
2
23
,
1
9
2
,
3
9
2
18
,
3
7
9
,
2
1
7
21
,
4
5
5
,
6
1
4
49
1
,
5
0
0
1.
2
4
%
1.
3
2
%
TR
7
8
,
1
5
7
,
1
8
8
80
,
0
8
3
,
4
3
8
75
,
3
1
8
,
7
0
0
77
,
4
8
4
,
9
9
0
88
2
,
2
9
5
1.
7
6
%
1.
7
4
%
CN
1
6
2
,
2
3
5
,
8
9
9
16
8
,
0
0
9
,
8
8
4
14
9
,
1
6
8
,
1
0
5
15
5
,
7
1
6
,
1
2
4
5,
0
4
0
,
8
8
1
1.
9
2
%
1.
9
1
%
CD
2
1
,
2
6
8
,
8
7
7
21
,
0
2
4
,
8
7
7
19
,
7
3
5
,
1
1
3
19
,
5
2
1
,
7
4
8
28
3
,
9
6
2
1.
7
9
%
1.
7
5
%
MB
S
(
a
g
e
n
c
y
)
3
5
,
5
6
9
,
2
0
6
35
,
9
0
1
,
7
5
4
33
,
3
5
0
,
2
3
8
33
,
9
4
7
,
2
2
9
77
1
,
4
1
9
2.
5
0
%
2.
4
9
%
Mu
n
i
7
0
,
2
4
2
,
6
5
7
66
,
1
0
6
,
0
6
9
64
,
7
7
9
,
0
9
1
61
,
0
8
1
,
1
8
2
1,
3
3
5
,
7
8
3
1.
7
6
%
1.
6
5
%
Ba
n
k
a
c
c
o
u
n
t
2
,
2
5
4
,
0
8
7
2,
1
0
7
,
5
3
7
2,
2
5
4
,
0
8
7
2,
1
0
7
,
5
3
7
-
0.
1
0
%
0.
4
0
%
Sw
e
e
p
6
,
6
2
8
,
1
6
6
9,
1
8
0
,
2
8
0
6,
6
2
8
,
1
6
6
9,
1
8
0
,
2
8
0
31
6
,
6
0
1
4.
9
6
%
4.
9
5
%
IR
T
9
,
1
0
8
,
8
2
3
2,
7
3
9
,
8
5
2
9,
1
0
8
,
8
2
3
2,
7
3
9
,
8
5
2
10
6
,
7
9
5
0.
1
0
%
0.
1
0
%
CA
M
P
1
4
1
,
0
0
6
,
0
5
7
14
2
,
4
1
8
,
8
9
3
14
1
,
0
0
6
,
0
5
7
14
2
,
4
1
8
,
8
9
3
2,
9
9
7
,
9
8
6
5.
2
4
%
5.
1
6
%
LA
I
F
1
,
7
7
8
,
8
4
9
1,
7
7
8
,
8
4
9
1,
7
7
8
,
8
4
9
1,
7
7
8
,
8
4
9
24
4
,
2
7
7
3.
2
6
%
3.
1
0
%
To
t
a
l
$8
8
0
,
3
3
4
,
1
5
4
8
8
3
,
0
6
4
,
8
3
8
$
$8
3
0
,
8
3
2
,
6
0
7
$
8
3
5
,
7
6
2
,
9
1
1
$
1
6
,
1
6
8
,
1
5
0
2
.
2
2
%
2.
2
1
%
FA
-
F
e
d
e
r
a
l
a
g
e
n
c
y
n
o
t
e
s
Mu
n
i
-
M
u
n
i
c
i
p
a
l
B
o
n
d
s
SN
-
S
u
p
r
a
n
a
t
i
o
n
a
l
Ba
n
k
a
c
c
o
u
n
t
-
G
e
n
e
r
a
l
c
a
s
h
a
c
c
o
u
n
t
TR
-
U
S
T
r
e
a
s
u
r
y
Sw
e
e
p
-
O
v
e
r
n
i
g
h
t
c
a
s
h
a
c
c
o
u
n
t
CN
-
C
o
r
p
o
r
a
t
e
n
o
t
e
s
IR
T
-
I
n
v
e
s
t
m
e
n
t
c
a
s
h
a
c
c
o
u
n
t
CD
-
C
e
r
t
i
f
i
c
a
t
e
o
f
d
e
p
o
s
i
t
CA
M
P
-
C
a
l
i
f
o
r
n
i
a
A
s
s
e
t
M
a
n
a
g
e
m
e
n
t
P
r
o
g
r
a
m
MB
S
-
P
a
s
s
t
h
r
o
u
g
h
/
m
o
r
t
g
a
g
e
b
a
c
k
e
d
s
e
c
u
r
i
t
i
e
s
LA
I
F
-
L
o
c
a
l
A
r
e
a
I
n
v
e
s
t
m
e
n
t
F
u
n
d
Exhibit 1
Aug. 22, 2023 Item #7 Page 4 of 22
Ci
t
y
o
f
C
a
r
l
s
b
a
d
i
n
v
e
s
t
m
e
n
t
p
o
r
t
f
o
l
i
o
As
o
f
J
u
n
e
3
0
,
2
0
2
3
Ma
t
u
r
i
t
i
e
s
b
y
c
l
a
s
s
i
f
i
c
a
t
i
o
n
a
n
d
l
e
n
g
t
h
o
f
t
i
m
e
a
t
m
a
r
k
e
t
v
a
l
u
e
Cl
a
s
s
Wi
t
h
i
n
6
m
o
n
t
h
s
7
t
o
1
2
m
o
n
t
h
s
1
t
o
5
y
e
a
r
s
To
t
a
l
%
T
o
t
a
l
Fe
d
e
r
a
l
I
n
v
e
s
t
m
e
n
t
s
$
3
7
,
6
6
5
,
4
4
8
$
1
6
,
6
9
5
,
1
6
5
$
2
5
4
,
9
6
5
,
5
4
8
$
3
0
9
,
3
2
6
,
1
6
1
3
7
.
2
3
%
Su
p
r
a
n
a
t
i
o
n
a
l
4
,
9
6
9
,
9
5
0
-
1
3
,
4
0
9
,
2
6
7
18
,
3
7
9
,
2
1
7
2.
2
1
%
US
T
r
e
a
s
u
r
y
1
4
,
8
4
4
,
9
9
5
19
,
6
6
6
,
2
0
0
40
,
8
0
7
,
5
0
5
75
,
3
1
8
,
7
0
0
9.
0
7
%
Co
r
p
o
r
a
t
e
N
o
t
e
s
1
4
,
4
8
2
,
0
1
8
38
,
7
6
5
,
6
1
5
95
,
9
2
0
,
4
7
3
14
9
,
1
6
8
,
1
0
5
17
.
9
5
%
(
2
)
Ce
r
t
i
f
i
c
a
t
e
o
f
D
e
p
o
s
i
t
2
,
2
0
3
,
3
3
1
72
4
,
0
2
3
16
,
8
0
7
,
7
5
9
19
,
7
3
5
,
1
1
3
2.
3
8
%
MB
S
(
a
g
e
n
c
y
)
1
,
9
2
0
,
0
0
0
2,
0
4
0
,
0
0
0
29
,
3
9
0
,
2
3
8
33
,
3
5
0
,
2
3
8
4.
0
1
%
(
3
)
MB
S
(
n
o
n
-
a
g
e
n
c
y
)
-
-
-
-
0
.
0
0
%
(
3
)
(
4
)
Mu
n
i
c
i
p
a
l
B
o
n
d
s
4
9
8
,
0
3
5
-
6
4
,
2
8
1
,
0
5
6
64
,
7
7
9
,
0
9
1
7.
8
0
%
(
5
)
Ba
n
k
a
c
c
o
u
n
t
2
,
2
5
4
,
0
8
7
-
-
2
,
2
5
4
,
0
8
7
0.
2
7
%
Sw
e
e
p
6
,
6
2
8
,
1
6
6
-
-
6
,
6
2
8
,
1
6
6
0.
8
0
%
IR
T
9
,
1
0
8
,
8
2
3
-
-
9
,
1
0
8
,
8
2
3
1.
1
0
%
CA
M
P
1
4
1
,
0
0
6
,
0
5
7
-
-
1
4
1
,
0
0
6
,
0
5
7
16
.
9
7
%
LA
I
F
1
,
7
7
8
,
8
4
9
-
-
1
,
7
7
8
,
8
4
9
0.
2
1
%
To
t
a
l
s
$2
3
7
,
3
5
9
,
7
5
9
$7
7
,
8
9
1
,
0
0
3
$5
1
5
,
5
8
1
,
8
4
5
$8
3
0
,
8
3
2
,
6
0
7
10
0
.
0
%
%
T
o
t
a
l
s
28
.
6
%
9.
4
%
62
.
1
%
10
0
.
0
%
To
t
a
l
w
i
t
h
i
n
o
n
e
y
e
a
r
$3
1
5
,
2
5
0
,
7
6
2
(1
)
Pe
r
c
e
n
t
a
g
e
o
f
t
h
e
b
u
d
g
e
t
w
i
t
h
i
n
o
n
e
y
e
a
r
92
.
1
%
Po
l
i
c
y
(1
)
N
o
t
l
e
s
s
t
h
a
n
$
2
2
8
,
0
0
0
,
0
0
0
t
o
m
a
t
u
r
e
w
i
t
h
i
n
o
n
e
y
e
a
r
,
t
w
o
-
t
h
i
r
d
s
o
f
F
Y
2
2
-
2
3
o
p
e
r
a
t
i
n
g
b
u
d
g
e
t
o
f
$
3
4
2
,
2
0
0
,
0
0
0
.
(2
)
P
o
l
i
c
y
s
t
a
t
e
s
t
h
a
t
n
o
t
m
o
r
e
t
h
a
n
3
0
%
o
f
p
o
r
t
f
o
l
i
o
i
s
t
o
b
e
i
n
v
e
s
t
e
d
i
n
c
o
r
p
o
r
a
t
e
n
o
t
e
s
a
t
t
i
m
e
o
f
p
u
r
c
h
a
s
e
.
(3
)
P
o
l
i
c
y
s
t
a
t
e
s
t
h
a
t
n
o
t
m
o
r
e
t
h
a
n
2
0
%
o
f
p
o
r
t
f
o
l
i
o
i
s
t
o
b
e
i
n
v
e
s
t
e
d
i
n
m
o
r
t
g
a
g
e
b
a
c
k
e
d
s
e
c
u
r
i
t
i
e
s
a
t
t
i
m
e
o
f
p
u
r
c
h
a
s
e
.
(4
)
T
o
t
a
l
n
o
n
-
a
g
e
n
c
y
m
o
r
t
g
a
g
e
b
a
c
k
e
d
s
e
c
u
r
i
t
i
e
s
s
h
a
l
l
b
e
l
i
m
i
t
e
d
t
o
5
%
o
f
t
h
e
c
i
t
y
'
s
p
o
r
t
f
o
l
i
o
.
(5
)
P
o
l
i
c
y
s
t
a
t
e
s
t
h
a
t
n
o
t
m
o
r
e
t
h
a
n
1
5
%
o
f
p
o
r
t
f
o
l
i
o
i
s
t
o
b
e
i
n
v
e
s
t
e
d
i
n
m
u
n
i
c
i
p
a
l
b
o
n
d
s
a
t
t
i
m
e
o
f
p
u
r
c
h
a
s
e
.
Exhibit 2
Aug. 22, 2023 Item #7 Page 5 of 22
0.00
1.00
2.00
3.00
4.00
5.00
6.00
Ju
l
Au
g
Se
p
Oc
t
No
v
De
c
20
2
1
J
a
n
Fe
b
Ma
r
Ap
r
Ma
y
Ju
n
Ju
l
Au
g
Se
p
Oc
t
No
v
De
c
20
2
2
J
a
n
Fe
b
Ma
r
Ap
r
Ma
y
Ju
n
Ju
l
Au
g
Se
p
Oc
t
No
v
De
c
20
2
3
J
a
n
Fe
b Ma
r
Ap
r
Ma
y
Ju
n
Yi
e
l
d
(
%
)
City of Carlsbad investment portfolio
Yield comparison
Portfolio yield ex pool money investment accounts (PMIA) vs CAMP yield vs LAIF
yield
Portfolio ex PMIA CAMP LAIF
0.00
1.00
2.00
3.00
4.00
5.00
6.00
3 month 2 year 5 year 10 year
FY 2020-21 end 0.05 0.25 0.87 1.45
FY 2021-22 end 1.72 2.92 3.01 2.98
June 30, 2023 5.43 4.87 4.13 3.81
Ma
r
k
e
t
r
a
t
e
(
%
)
City of Carlsbad investment portfolio
Market yield curve
Fiscal year end compared to current
Exhibit 3
Aug. 22, 2023 Item #7 Page 6 of 22
$0.98 $0.92 $1.12
$1.36 $1.24 $1.03 $1.30 $1.30 $1.37 $1.69 $1.55 $1.53 $1.76
$12.05
$16.17
-
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
In
t
e
r
e
s
t
i
n
c
o
m
e
(
$
i
n
m
i
l
l
i
o
n
s
)
City of Carlsbad investment portfolio
Cumulative cash income
13-month comparison
FY 2021-22 interest income FY 2022-23 interest income
Exhibit 4
Aug. 22, 2023 Item #7 Page 7 of 22
City of Carlsbad investment portfolio
Maturities, calls, and purchases this quarter
As of June 30, 2023
Maturities
CUSIP Issuer Settled Maturity Par value Book value Interest Total
931142DH3 WAL-MART 05/07/18 04/11/23 1,000,000.00 1,000,000.00 12,750.00 1,012,750.00
931142DH3 WAL-MART 12/06/18 04/11/23 1,000,000.00 1,000,000.00 12,750.00 1,012,750.00
31398E6W9 FHLMC FHR 3544 08/27/20 04/17/23 16,580.56 17,373.32 507.83 17,881.15
17312QJ67 CITIBANK 04/24/18 04/24/23 246,000.00 246,000.00 3,679.89 249,679.89
3137F32A1 FHLMC FHMS 04/15/20 04/25/23 82,054.68 87,952.36 4,857.07 92,809.43
30315EAA4 FRESB 07/24/20 04/25/23 1,323.46 1,329.93 621.83 1,951.76
30318NAA1 FRESB 02/19/21 04/25/23 2,166.66 2,176.83 679.57 2,856.40
3137FBTA4 FHLMC FHMS 03/10/21 04/25/23 4,085.97 4,407.26 7,432.25 11,839.51
30321CAQ5 FRESB 07/23/21 04/25/23 2,844.33 7,002.70 5,844.31 12,847.01
3137BP4J5 FHLMC 08/20/21 04/25/23 40,748.64 42,677.83 3,295.20 45,973.03
30324QAC2 FRESB 01/21/22 04/25/23 6,970.46 7,002.70 5,844.31 12,847.01
30311SAA7 FRESB 04/22/22 04/25/23 4,828.35 4,636.99 5,064.96 9,701.95
3137BM7B6 FHLMC FHMS 06/30/22 04/25/23 87,626.61 86,942.03 7,440.10 94,382.13
3137BL6J2 FHLMC FHMC 07/22/22 04/25/23 69,062.95 68,372.32 3,085.05 71,457.37
30329MAA0 FRESB 10/28/22 04/25/23 808.57 724.39 2,770.13 3,494.52
30329QAA1 FAMCA 11/18/22 04/25/23 2,884.64 2,633.21 8,639.96 11,273.17
3138L7D60 FNMA 12/19/22 04/25/23 2,444.25 2,366.34 2,874.46 5,240.80
06406RAG2 BANK NEW YORK MELLON 05/16/19 04/28/23 2,000,000.00 2,000,000.00 35,000.00 2,035,000.00
06406RAG2 BANK NEW YORK MELLON 06/25/20 04/28/23 2,000,000.00 2,000,000.00 35,000.00 2,035,000.00
91282CBX8 US TREASURY 11/09/21 05/01/23 2,000,000.00 1,967,500.00 1,250.00 1,968,750.00
91282CBX8 US TREASURY 02/04/22 05/01/23 2,500,000.00 2,478,125.00 1,562.50 2,479,687.50
91282CBX8 US TREASURY 04/14/22 05/01/23 2,000,000.00 1,995,625.00 1,250.00 1,996,875.00
19416QEC0 COLGATE-PALMOLIVE 05/02/18 05/01/23 4,666,000.00 4,443,179.84 48,993.00 4,492,172.84
037833AK6 APPLE INC 05/09/18 05/03/23 4,000,000.00 3,862,600.00 48,000.00 3,910,600.00
06653LAE0 FIRST FARMERS BANK & TRUST 05/08/19 05/08/23 249,000.00 249,000.00 511.64 249,511.64
31398E6W9 FHLMC FHR 3544 08/27/20 05/16/23 14,746.08 15,451.13 452.56 15,903.69
080515CQ0 BELMONT SAVINGS BANK 05/16/18 05/16/23 245,000.00 245,000.00 3,705.54 248,705.54
3137F32A1 FHLMC FHMS 04/15/20 05/25/23 88,002.87 94,328.08 4,628.61 98,956.69
30315EAA4 FRESB 07/24/20 05/25/23 1,408.90 1,415.79 620.91 2,036.70
30318NAA1 FRESB 02/19/21 05/25/23 2,283.96 2,294.69 678.44 2,973.13
3137FBTA4 FHLMC FHMS 03/10/21 05/25/23 4,382.07 4,726.64 7,421.82 12,148.46
30321CAQ5 FRESB 07/23/21 05/25/23 3,018.39 3,032.56 1,314.37 4,346.93
3137BP4J5 FHLMC 08/20/21 05/25/23 43,366.18 45,419.30 3,212.14 48,631.44
30324QAC2 FRESB 01/21/22 05/25/23 7,374.74 7,408.85 5,834.79 13,243.64
30311SAA7 FRESB 04/22/22 05/25/23 5,120.27 4,917.34 5,057.80 9,975.14
3137BM7B6 FHLMC FHMS 06/30/22 05/25/23 94,028.85 93,294.25 7,229.28 100,523.53
3137BL6J2 FHLMC FHMC 07/22/22 05/25/23 73,446.60 72,712.13 2,930.29 75,642.42
30329MAA0 FRESB 10/28/22 05/25/23 864.53 774.52 2,768.72 3,543.24
30329QAA1 FAMCA 11/18/22 05/25/23 3,116.44 2,844.80 8,633.71 11,478.51
3138L7D60 FNMA 12/19/22 05/25/23 2,452.55 2,374.37 2,867.44 5,241.81
91282CCD1 US TREASURY 02/07/22 05/31/23 2,000,000.00 1,978,906.26 1,250.00 1,980,156.26
023135BP0 AMAZON.COM 04/18/22 06/03/23 3,000,000.00 3,000,000.00 6,000.00 3,006,000.00
31398E6W9 FHLMC FHR 08/27/20 06/15/23 15,313.96 16,046.16 403.41 16,449.57
459058GX5 INTERNATIONAL BANK 11/10/20 06/19/23 3,000,000.00 2,999,725.11 28,125.00 3,027,850.11
74934YAH4 RBC BANK 06/20/18 06/20/23 249,000.00 249,000.00 644.67 249,644.67
3137F32A1 FHLMC FHMS 04/15/20 06/26/23 82,605.27 88,542.52 4,383.60 92,926.12
30315EAA4 FRESB 07/24/20 06/26/23 1,331.95 1,338.46 619.94 1,958.40
30318NAA1 FRESB 02/19/21 06/26/23 2,178.94 2,189.17 677.24 2,866.41
3137FBTA4 FHLMC FHMS 03/10/21 06/26/23 4,115.10 4,438.68 7,410.63 11,849.31
30321CAQ5 FRESB 07/23/21 06/26/23 2,859.70 2,873.13 1,312.16 4,185.29
3137BP4J5 FHLMC 08/20/21 06/26/23 41,060.80 43,004.77 3,123.74 46,128.51
30324QAC2 FRESB 01/21/22 06/26/23 7,010.41 7,042.83 5,824.71 12,867.54
30311SAA7 FRESB 04/22/22 06/26/23 4,859.67 4,667.07 5,050.20 9,717.27
3137BM7B6 FHLMC FHMS 06/30/22 06/26/23 88,287.98 87,598.23 7,003.07 94,601.30
3137BL6J2 FHLMC FHMC 07/22/22 06/26/23 69,537.10 68,841.73 2,765.71 71,607.44
30329MAA0 FRESB 10/28/22 06/26/23 1,039.09 930.91 2,767.23 3,698.14
30329QAA1 FAMCA 11/18/22 06/26/23 2,904.66 2,651.48 8,626.96 11,278.44
3138L7D60 FNMA 12/19/22 06/26/23 2,460.86 2,382.42 2,860.39 5,242.81
931142EK5 WAL-MART 07/25/18 06/26/23 1,500,000.00 1,500,000.00 25,500.00 1,525,500.00
931142EK5 WAL-MART 08/06/18 06/26/23 1,750,000.00 1,750,000.00 29,750.00 1,779,750.00
Exhibit 5
Aug. 22, 2023 Item #7 Page 8 of 22
Maturities
CUSIP Issuer Settled Maturity Par value Book value Interest Total
931142EK5 WAL-MART 02/21/19 06/26/23 1,000,000.00 1,000,000.00 17,000.00 1,017,000.00
912828S35 US TREASURY 01/20/22 06/30/23 2,000,000.00 2,000,000.00 13,750.00 2,013,750.00
37,398,608.05 36,983,801.43 491,909.14 37,475,710.57
Calls
CUSIP Issuer Settled Maturity Redeemed Par value Book value Total
No calls this quarter
- - -
Purchases
CUSIP Issuer Settled Maturity First Coupon Yield Par value Dollar price Book value
914098DQ8 UNIVERSITY BANK 04/03/23 04/03/28 05/03/23 4.850000%249,000.00 100.00 249,000.00
3133EPFU4 FFCB 04/12/23 04/12/28 10/12/23 3.529910%2,500,000.00 99.86 2,496,600.00
91282CFB2 US TREASURY 04/21/23 07/31/27 07/31/23 3.770184%2,500,000.00 96.00 2,400,000.00
3130AVK50 FHLB 04/24/23 04/24/28 10/24/23 5.000000%1,500,000.00 100.00 1,500,000.00
544495VX9 LA CA DEPT WTR & PWR 04/27/23 07/01/27 07/01/23 4.100000%1,500,000.00 105.38 1,580,685.00
912828Z78 US TREASURY 05/08/23 01/31/27 07/31/23 3.500275%1,500,000.00 93.06 1,395,855.00
357155BA7 FREMONT CA USD 05/09/23 08/01/27 08/11/23 3.750000%2,000,000.00 89.78 1,795,540.00
194162AN3 COLGATE-PALMOLIVE 05/09/23 08/15/27 08/15/23 3.694000%2,000,000.00 97.67 1,953,420.00
742718FV6 PROCTER & GAMBLE 05/11/23 02/01/27 08/01/23 3.777008%1,000,000.00 93.54 935,367.00
3133EPJP1 FFCB 05/12/23 05/12/27 11/12/23 3.635022%2,000,000.00 99.96 1,999,260.00
91412HGF4 UNIVERSITY OF CA 05/15/23 05/15/27 11/15/23 3.810000%1,000,000.00 90.83 908,270.00
05600XQE3 BMO HARRIS BANK NA 05/16/23 05/16/28 11/16/23 4.500000%244,000.00 100.00 244,000.00
3130AW6F2 FHLB 05/22/23 11/22/27 11/22/23 5.000000%1,500,000.00 100.00 1,500,000.00
419794F72 HAWAII STATE 06/06/23 07/01/27 07/01/23 4.720000%1,125,000.00 89.33 1,004,962.50
3133EPMA0 FFCB 06/09/23 06/09/28 12/09/23 4.690000%1,500,000.00 100.00 1,500,000.00
23204HPB8 CUSTOMERS BANK 06/14/23 06/14/28 12/14/23 4.500000%244,000.00 100.00 244,000.00
68607DVD4 OREGON ST DEPT OF TRANSP 06/16/23 11/15/27 11/15/23 4.370000%2,000,000.00 86.94 1,738,740.00
91527PCD7 UNIVEST BANK & TRUST CO 06/21/23 06/21/28 07/21/23 4.500000%249,000.00 100.00 249,000.00
64952WEQ2 NEW YORK LIFE GLOBAL 06/23/23 04/07/27 10/07/23 4.629941%1,500,000.00 95.25 1,428,750.00
438701Y40 HONOLULU WASTEWATER SYSTM 06/28/23 07/01/27 07/01/23 4.460000%1,500,000.00 92.86 1,392,885.00
27,611,000.00 96.52 26,516,334.50
Aug. 22, 2023 Item #7 Page 9 of 22
City of Carlsbad
Detailed Investment Report
As of June 2023
Settlement Maturity Type Issuer Par Invested Yield Weighted average Interest expected Return
Federal investments
08/13/20 08/10/23 FA FNMA 2,000,000.00 1,997,600.00 0.300% 0.0000180 17,950.00 2,017,950.00
09/13/19 08/14/23 FA FFCB 1,800,000.00 1,796,580.00 1.650% 0.0000893 112,880.00 1,912,880.00
12/15/21 08/18/23 FA FNMA 1,250,000.00 1,246,675.00 0.510% 0.0000191 7,328.12 1,257,328.12
11/30/21 08/25/23 FA FHLB 2,500,000.00 2,500,000.00 0.500% 0.0000376 21,701.39 2,521,701.39
09/18/18 09/05/23 FA FFCB 1,000,000.00 991,290.00 2.990% 0.0000893 138,988.89 1,138,988.89
10/10/18 09/05/23 FA FFCB 2,300,000.00 2,266,190.00 3.125% 0.0002133 315,738.89 2,615,738.89
09/03/19 09/08/23 FA FHLB 2,000,000.00 2,069,108.00 1.485% 0.0000925 190,659.72 2,190,659.72
02/27/19 09/12/23 FA FNMA 1,000,000.00 1,016,210.00 2.495% 0.0000764 130,572.92 1,130,572.92
04/16/19 09/12/23 FA FNMA 1,750,000.00 1,783,757.50 2.410% 0.0001295 221,375.00 1,971,375.00
06/30/22 09/29/23 FA FHLB 1,500,000.00 1,500,000.00 3.200% 0.0001446 59,866.67 1,559,866.67
10/17/18 10/02/23 FA FFCB 2,500,000.00 2,493,150.00 3.050% 0.0002290 378,072.92 2,878,072.92
02/07/19 10/23/23 FA FFCB 1,000,000.00 1,017,530.00 2.602% 0.0000797 141,333.33 1,141,333.33
05/09/19 11/08/23 FA FFCB 2,000,000.00 2,001,700.00 2.280% 0.0001375 206,872.22 2,206,872.22
11/24/20 11/24/23 FA FHLMC 2,500,000.00 2,500,000.00 0.320% 0.0000241 24,000.00 2,524,000.00
11/30/20 11/30/23 FA FFCB 3,000,000.00 3,000,000.00 0.310% 0.0000280 26,917.50 3,027,900.00
03/19/21 12/04/23 FA FHLMC 2,000,000.00 1,998,100.00 0.250% 0.0000150 13,541.67 2,013,541.67
06/28/19 12/05/23 FA FFCB 1,500,000.00 1,569,280.50 1.870% 0.0000884 196,963.33 1,696,963.33
12/09/20 12/08/23 FA FFCB 2,500,000.00 2,500,000.00 0.280% 0.0000211 20,980.56 2,520,980.56
05/13/20 12/08/23 FA FHLB 1,000,000.00 1,107,630.00 0.339% 0.0000113 120,468.75 1,120,468.75
05/09/19 12/20/23 FA FFCB 1,000,000.00 1,052,900.00 3.500% 0.0001110 161,486.11 1,161,486.11
12/29/21 12/29/23 FA FHLB 2,000,000.00 2,000,000.00 0.720% 0.0000434 28,800.00 2,028,800.00
03/06/19 02/27/24 FA FFCB 1,500,000.00 1,498,950.00 2.610% 0.0001178 194,771.25 1,694,771.25
11/30/21 02/28/24 FA FHLB 1,500,000.00 1,500,000.00 0.770% 0.0000348 25,922.80 1,525,922.80
02/28/20 02/28/24 FA FFCB 2,500,000.00 2,500,000.00 1.550% 0.0001167 155,000.00 2,655,000.00
03/08/19 03/08/24 FA FHLB 3,000,000.00 3,100,851.00 2.530% 0.0002363 487,500.00 3,487,500.00
04/09/19 04/05/24 FA FFCB 2,000,000.00 1,994,380.00 2.360% 0.0001418 229,105.56 2,229,105.56
04/23/21 04/22/24 FA FFCB 2,000,000.00 2,000,000.00 0.340% 0.0000205 20,381.11 2,020,381.11
04/05/21 04/23/24 FA FHLMC 1,000,000.00 997,570.00 0.400% 0.0000120 9,760.00 1,009,760.00
05/09/19 05/07/24 FA FHLB 1,000,000.00 1,005,320.00 2.287% 0.0000692 119,866.67 1,119,866.67
11/29/21 06/14/24 FA FNMA 2,000,000.00 1,976,200.00 0.849% 0.0000505 19,062.50 2,019,062.50
08/28/19 06/25/24 FA FFCB 1,183,000.00 1,237,524.47 1.457% 0.0000543 139,845.39 1,322,845.39
08/28/19 06/30/24 FA FFCB 1,470,000.00 1,517,378.10 1.457% 0.0000666 151,263.00 1,621,263.00
03/21/22 07/02/24 FA FFCB 2,005,000.00 1,942,243.50 1.980% 0.0001158 26,063.33 2,031,063.33
12/10/21 07/19/24 FA FHLB 2,000,000.00 1,978,000.00 0.878% 0.0000523 23,475.00 2,023,475.00
07/24/20 07/22/24 FA FFCB 2,000,000.00 2,000,000.00 0.440% 0.0000265 35,151.11 2,035,151.11
08/08/19 07/26/24 FA FFCB 2,500,000.00 2,532,125.00 1.582% 0.0001206 229,708.33 2,729,708.33
10/29/20 07/29/24 FA FHLMC 3,000,000.00 3,000,000.00 0.375% 0.0000339 42,187.50 3,042,187.50
11/10/20 08/15/24 FA FHLB 4,000,000.00 4,191,800.00 1.500% 0.0001894 255,833.33 4,255,833.33
08/30/19 09/10/24 FA FFCB 2,500,000.00 2,572,420.00 1.480% 0.0001147 261,444.44 2,761,444.44
02/19/21 09/15/24 FA TVA 1,000,000.00 1,091,424.00 0.300% 0.0000099 102,701.39 1,102,701.39
11/06/20 09/30/24 FA FHLMC 1,170,000.00 1,170,000.00 0.350% 0.0000123 15,970.50 1,185,970.50
03/30/21 09/30/24 FA FHLB 1,500,000.00 1,500,000.00 0.520% 0.0000235 27,300.00 1,527,300.00
10/22/20 09/30/24 FA FHLMC 3,000,000.00 3,000,000.00 0.350% 0.0000316 41,358.33 3,041,358.33
10/04/21 10/04/24 FA FAMCA 2,000,000.00 2,000,000.00 0.500% 0.0000301 30,000.00 2,030,000.00
11/25/20 10/16/24 FA FFCB 1,400,000.00 1,466,052.00 0.280% 0.0000124 81,725.00 1,481,725.00
11/15/19 11/01/24 FA FAMCA 2,000,000.00 1,999,720.00 1.793% 0.0001080 177,607.78 2,177,607.78
07/10/20 11/13/24 FA FFCB 1,621,000.00 1,751,360.82 0.390% 0.0000206 159,055.22 1,780,055.22
11/18/20 11/18/24 FA FNMA 2,000,000.00 2,000,000.00 0.420% 0.0000253 33,600.00 2,033,600.00
12/02/21 12/02/24 FA FHLB 1,900,000.00 1,900,000.00 1.050% 0.0000601 59,850.00 1,959,850.00
12/16/21 12/16/24 FA FHLB 2,000,000.00 2,000,000.00 0.500% 0.0000301 70,000.00 2,070,000.00
07/07/22 12/30/24 FA FHLMC 2,500,000.00 2,500,000.00 3.348% 0.0002521 207,746.53 2,707,746.53
12/30/20 12/30/24 FA FHLB 4,000,000.00 4,000,000.00 0.310% 0.0000373 49,600.00 4,049,600.00
05/27/21 01/08/25 FA FHLB 2,000,000.00 2,000,000.00 0.648% 0.0000391 46,980.56 2,046,980.56
07/21/22 01/21/25 FA FHLB 2,000,000.00 2,000,000.00 3.500% 0.0002108 175,000.00 2,175,000.00
07/28/21 01/28/25 FA FHLB 1,750,000.00 1,750,000.00 0.520% 0.0000274 31,850.00 1,781,850.00
02/03/21 02/03/25 FA FFCB 2,000,000.00 2,000,000.00 0.320% 0.0000193 25,600.00 2,025,600.00
02/18/21 03/14/25 FA FHLB 1,500,000.00 1,620,240.00 0.389% 0.0000190 145,072.92 1,645,072.92
04/09/20 03/14/25 FA FHLB 3,000,000.00 3,231,300.00 0.778% 0.0000757 351,302.08 3,351,302.08
06/07/21 03/28/25 FA FHLMC 1,000,000.00 998,500.00 0.540% 0.0000162 19,041.67 1,019,041.67
06/28/21 03/28/25 FA FHLB 3,120,000.00 3,122,340.00 0.500% 0.0000470 70,200.00 3,190,200.00
04/21/21 04/21/25 FA FFCB 1,500,000.00 1,500,000.00 0.710% 0.0000321 42,600.00 1,542,600.00
09/30/22 04/21/25 FA FHLB 1,055,000.00 963,215.00 4.287% 0.0001244 17,813.67 1,072,813.67
12/23/20 04/23/25 FA FNMA 3,000,000.00 3,000,000.00 0.500% 0.0000452 65,000.00 3,065,000.00
10/30/20 04/30/25 FA FHLMC 2,000,000.00 2,000,000.00 0.500% 0.0000301 45,111.12 2,045,111.12
06/03/20 05/27/25 FA FFCB 3,500,000.00 3,499,300.00 0.734% 0.0000774 127,324.17 3,627,324.17
06/03/20 05/28/25 FA FHLMC 2,000,000.00 2,000,000.00 0.750% 0.0000452 74,791.66 2,074,791.66
12/16/20 06/16/25 FA FNMA 2,000,000.00 2,000,000.00 0.450% 0.0000271 40,500.00 2,040,500.00
01/11/21 06/17/25 FA FNMA 3,000,000.00 3,014,640.00 0.389% 0.0000353 66,500.00 3,066,500.00
05/20/21 06/17/25 FA FNMA 2,000,000.00 1,991,940.00 0.600% 0.0000360 40,750.00 2,040,750.00
07/01/20 06/30/25 FA FNMA 2,500,000.00 2,500,000.00 0.740% 0.0000557 92,448.61 2,592,448.61
01/15/21 07/14/25 FA FFCB 2,225,000.00 2,218,325.00 0.457% 0.0000306 39,024.65 2,264,024.65
09/14/20 07/21/25 FA FHLMC 1,500,000.00 1,499,625.00 0.380% 0.0000172 27,296.87 1,527,296.87
07/29/20 07/29/25 FA FFCB 3,000,000.00 3,000,000.00 0.580% 0.0000524 87,000.00 3,087,000.00
10/29/20 07/29/25 FA FFCB 3,000,000.00 3,000,000.00 0.530% 0.0000479 75,525.00 3,075,525.00
10/01/20 07/30/25 FA FHLMC 2,000,000.00 2,000,000.00 0.510% 0.0000307 49,271.67 2,049,271.67
08/12/20 08/12/25 FA FFCB 3,500,000.00 3,500,000.00 0.530% 0.0000559 92,750.00 3,592,750.00
08/14/20 08/14/25 FA FNMA 2,000,000.00 2,000,000.00 0.650% 0.0000392 65,000.00 2,065,000.00
11/06/20 08/18/25 FA FNMA 2,000,000.00 1,999,000.00 0.500% 0.0000301 47,833.33 2,047,833.33
Exhibit 6
Aug. 22, 2023 Item #7 Page 10 of 22
Settlement Maturity Type Issuer Par Invested Yield Weighted average Interest expected Return
08/21/20 08/21/25 FA FNMA 2,000,000.00 2,000,000.00 0.450% 0.0000271 45,000.00 2,045,000.00
08/27/20 08/27/25 FA FHLMC 2,500,000.00 2,500,000.00 0.520% 0.0000392 58,500.00 2,558,500.00
08/31/20 08/29/25 FA FNMA 3,000,000.00 3,000,000.00 0.600% 0.0000542 89,900.00 3,089,900.00
12/28/20 09/23/25 FA FHLMC 3,000,000.00 2,996,460.00 0.400% 0.0000361 53,281.25 3,053,281.25
10/22/20 09/23/25 FA FHLMC 4,000,000.00 3,989,280.00 0.430% 0.0000517 73,791.67 4,073,791.67
10/14/20 10/14/25 FA FFCB 1,500,000.00 1,500,000.00 0.520% 0.0000235 39,000.00 1,539,000.00
11/01/22 10/14/25 FA FAMCA 1,650,000.00 1,645,264.50 2.153% 0.0001067 184,415.59 1,834,415.59
10/15/20 10/15/25 FA FHLMC 3,000,000.00 3,000,000.00 0.550% 0.0000497 82,500.00 3,082,500.00
12/11/20 10/20/25 FA FNMA 2,410,000.00 2,408,795.00 0.590% 0.0000428 67,909.78 2,477,909.78
12/09/20 10/21/25 FA FFCB 3,000,000.00 2,994,300.00 0.560% 0.0000505 75,920.00 3,075,920.00
11/03/20 11/03/25 FA FFCB 4,500,000.00 4,500,000.00 0.540% 0.0000732 121,500.00 4,621,500.00
12/29/20 11/07/25 FA FNMA 3,000,000.00 3,012,960.00 0.410% 0.0000372 72,833.34 3,072,833.34
03/10/21 12/10/25 FA FHLB 1,750,000.00 1,750,000.00 0.650% 0.0000343 54,031.25 1,804,031.25
03/02/21 12/15/25 FA FAMCA 3,000,000.00 3,000,000.00 0.520% 0.0000470 74,663.33 3,074,663.33
12/17/20 12/17/25 FA FHLMC 5,000,000.00 5,000,000.00 0.625% 0.0000941 156,250.00 5,156,250.00
03/24/21 12/23/25 FA FHLMC 1,500,000.00 1,489,500.00 0.700% 0.0000314 49,845.83 1,549,845.83
12/30/20 12/30/25 FA FNMA 2,500,000.00 2,504,125.00 0.474% 0.0000358 80,000.00 2,580,000.00
01/14/21 01/14/26 FA FHLB 4,000,000.00 4,000,000.00 0.510% 0.0000614 102,000.00 4,102,000.00
01/14/21 01/14/26 FA FHLB 1,750,000.00 1,747,375.00 0.540% 0.0000284 44,625.00 1,794,625.00
01/25/21 01/15/26 FA FAMCA 1,500,000.00 1,500,000.00 0.480% 0.0000217 35,800.00 1,535,800.00
01/28/21 01/28/26 FA FHLB 3,000,000.00 3,000,000.00 0.500% 0.0000452 75,000.00 3,075,000.00
02/09/21 02/09/26 FA FHLB 2,050,000.00 2,050,000.00 0.350% 0.0000216 14,575.00 2,064,575.00
02/12/21 02/12/26 FA FHLB 2,000,000.00 2,000,000.00 0.550% 0.0000331 55,000.00 2,055,000.00
02/18/21 02/18/26 FA FHLB 4,000,000.00 4,000,000.00 0.500% 0.0000602 100,000.00 4,100,000.00
03/03/21 03/03/26 FA FFCB 674,000.00 674,000.00 0.790% 0.0000160 26,623.00 700,623.00
03/09/21 03/09/26 FA FFCB 3,500,000.00 3,500,000.00 0.800% 0.0000843 140,000.00 3,640,000.00
03/18/21 03/18/26 FA FHLB 3,000,000.00 2,997,000.00 0.750% 0.0000677 112,500.00 3,112,500.00
03/30/21 03/30/26 FA FHLB 1,500,000.00 1,500,000.00 0.300% 0.0000136 22,500.00 1,522,500.00
04/20/21 04/20/26 FA FAMCA 2,000,000.00 2,000,000.00 1.000% 0.0000602 100,000.00 2,100,000.00
04/21/21 04/21/26 FA FHLB 2,000,000.00 1,998,500.00 0.915% 0.0000551 90,000.00 2,090,000.00
04/29/21 04/29/26 FA FHLB 4,000,000.00 4,000,000.00 0.500% 0.0000602 100,000.00 4,100,000.00
05/04/21 05/04/26 FA FAMCA 2,500,000.00 2,500,000.00 0.950% 0.0000715 118,750.00 2,618,750.00
09/30/22 05/19/26 FA FHLB 1,100,000.00 979,726.00 4.300% 0.0001269 40,797.17 1,140,797.17
05/26/21 05/26/26 FA FHLB 2,500,000.00 2,500,000.00 0.500% 0.0000376 112,500.00 2,612,500.00
05/27/21 05/27/26 FA FAMCA 2,000,000.00 2,000,000.00 0.920% 0.0000554 92,000.00 2,092,000.00
06/16/21 06/16/26 FA FHLB 2,000,000.00 2,000,000.00 0.500% 0.0000301 94,000.00 2,094,000.00
06/16/21 06/16/26 FA FHLB 2,500,000.00 2,500,000.00 0.500% 0.0000376 117,500.00 2,617,500.00
06/22/21 06/22/26 FA FFCB 2,000,000.00 1,993,160.00 0.870% 0.0000522 80,000.00 2,080,000.00
06/30/21 06/30/26 FA FHLB 4,500,000.00 4,500,000.00 0.500% 0.0000678 186,750.00 4,686,750.00
06/30/21 06/30/26 FA FHLB 2,000,000.00 2,000,000.00 0.550% 0.0000331 88,000.00 2,088,000.00
07/27/21 07/27/26 FA FHLB 2,500,000.00 2,500,000.00 1.000% 0.0000753 125,000.00 2,625,000.00
08/25/21 08/25/26 FA FHLB 3,500,000.00 3,494,750.00 0.906% 0.0000953 153,125.00 3,653,125.00
09/01/21 09/01/26 FA FAMCA 4,000,000.00 4,000,000.00 0.900% 0.0001084 180,000.00 4,180,000.00
09/07/21 09/01/26 FA FFCB 3,000,000.00 2,997,750.00 0.885% 0.0000799 130,065.00 3,130,065.00
09/30/21 09/30/26 FA FAMCA 2,500,000.00 2,500,000.00 0.860% 0.0000648 107,798.60 2,607,798.60
12/27/21 10/07/26 FA FFCB 2,500,000.00 2,469,000.00 1.268% 0.0000943 119,444.44 2,619,444.44
10/19/22 10/19/26 FA FFCB 3,000,000.00 3,000,000.00 5.300% 0.0004789 636,000.00 3,636,000.00
02/15/22 10/28/26 FA FHLMC 4,500,000.00 4,266,900.00 1.958% 0.0002517 169,300.00 4,669,300.00
02/25/22 10/28/26 FA FHLB 3,500,000.00 3,378,200.00 1.979% 0.0002014 197,283.33 3,697,283.33
12/09/21 11/30/26 FA FFCB 2,950,000.00 2,952,950.00 1.408% 0.0001253 167,958.25 3,117,958.25
01/14/22 12/21/26 FA FHLB 1,550,000.00 1,532,857.00 1.483% 0.0000685 95,637.15 1,645,637.15
02/07/22 01/26/27 FA FHLB 1,250,000.00 1,245,000.00 1.331% 0.0000499 112,070.31 1,362,070.31
03/29/22 01/28/27 FA FHLB 2,500,000.00 2,384,750.00 2.776% 0.0001994 211,336.81 2,711,336.81
06/24/22 03/25/27 FA FHLB 2,000,000.00 1,941,720.00 3.420% 0.0002000 260,791.67 2,260,791.67
06/10/22 04/26/27 FA FHLB 4,000,000.00 3,982,764.44 3.198% 0.0003836 589,235.56 4,589,235.56
05/12/23 05/12/27 FA FFCB 2,000,000.00 1,999,260.00 3.620% 0.0002180 290,000.00 2,290,000.00
06/28/22 06/28/27 FA FHLB 2,500,000.00 2,500,000.00 3.250% 0.0002447 406,250.00 2,906,250.00
06/30/22 06/30/27 FA FHLB 2,500,000.00 2,500,000.00 3.500% 0.0002635 437,500.00 2,937,500.00
09/30/22 09/15/27 FA FFCB 2,500,000.00 2,432,200.00 3.983% 0.0002918 418,359.37 2,918,359.37
05/22/23 11/22/27 FA FHLB 1,500,000.00 1,500,000.00 5.000% 0.0004623 337,500.00 1,837,500.00
12/07/22 12/07/27 FA FFCB 3,000,000.00 2,995,920.00 3.780% 0.0003411 562,500.00 3,562,500.00
02/02/23 02/02/28 FA FHLB 2,500,000.00 2,500,000.00 4.050% 0.0006241 506,250.00 3,006,250.00
03/08/23 02/17/28 FA FHLB 1,500,000.00 1,480,500.00 4.240% 0.0003869 318,000.00 1,798,500.00
03/13/23 03/13/28 FA FFCB 1,000,000.00 1,000,000.00 5.350% 0.0001611 267,500.00 1,267,500.00
03/29/23 03/29/28 FA FHLB 1,000,000.00 1,000,000.00 6.000% 0.0001807 300,000.00 1,300,000.00
04/12/23 04/12/28 FA FFCB 2,500,000.00 2,496,600.00 3.530% 0.0002654 437,500.00 2,937,500.00
04/24/23 04/24/28 FA FHLB 1,500,000.00 1,500,000.00 5.000% 0.0002259 375,000.00 1,875,000.00
06/09/23 06/09/28 FA FFCB 1,500,000.00 1,500,000.00 4.690% 0.0002119 351,750.00 1,851,750.00
Federal investments 331,633,000.00$ 332,021,011.83$ 1.352%19,572,359.74$ 351,186,842.24$
Supranationals
11/10/20 10/04/23 SN IADB 3,000,000.00 3,240,000.00 3.000% 0.0048447 261,000.00 3,261,000.00
05/09/19 10/24/23 SN IADB 2,000,000.00 2,058,280.00 2.300% 0.0023596 264,166.67 2,264,166.67
08/29/19 08/28/24 SN IBRD 2,000,000.00 2,006,920.00 1.428% 0.0014284 149,916.67 2,149,916.67
11/03/21 10/15/24 SN IADB 1,440,000.00 1,419,552.00 0.828% 0.0005860 14,443.20 1,454,443.20
02/04/21 10/16/24 SN IFC 2,000,000.00 2,079,800.00 0.290% 0.0003008 101,750.00 2,101,750.00
01/14/21 11/20/25 SN IBRD 2,000,000.00 2,250,220.00 0.510% 0.0005720 303,125.00 2,303,125.00
01/25/21 01/15/26 SN IFC 2,000,000.00 2,007,840.00 0.500% 0.0005005 57,677.78 2,057,677.78
04/23/21 04/20/26 SN IADB 3,000,000.00 3,000,720.00 0.870% 0.0013013 131,031.25 3,131,031.25
05/28/21 05/15/26 SN IFC 2,000,000.00 2,000,000.00 0.500% 0.0004984 49,638.89 2,049,638.89
Supranationals 19,440,000.00$ 20,063,332.00$ 1.239%1,332,749.46$ 20,772,749.46$
US Treasury
01/20/22 07/31/23 TR US Treasury 2,000,000.00 1,977,812.50 0.856% 0.0002166 3,824.73 2,003,824.73
04/12/22 07/31/23 TR US Treasury 3,000,000.00 2,925,937.50 2.054% 0.0007688 4,889.50 3,004,889.50
06/23/22 08/31/23 TR US Treasury 1,500,000.00 1,451,659.84 2.941% 0.0005462 2,226.56 1,502,226.56
01/21/22 08/31/23 TR US Treasury 2,000,000.00 1,977,084.46 0.844% 0.0002135 4,012.43 2,004,012.43
01/10/22 10/15/23 TR US Treasury 2,500,000.00 2,455,078.13 1.211% 0.0003805 5,236.95 2,505,236.95
11/12/21 10/31/23 TR US Treasury 2,000,000.00 1,996,562.50 0.463% 0.0001183 14,751.38 2,014,751.38
01/14/22 11/30/23 TR US Treasury 2,000,000.00 1,987,343.75 0.841% 0.0002137 18,763.74 2,018,763.74
12/13/21 01/15/24 TR US Treasury 2,000,000.00 1,976,920.00 0.682% 0.0001725 5,224.18 2,005,224.18
11/15/21 01/15/24 TR US Treasury 1,500,000.00 1,485,825.00 0.126% 0.0000240 4,060.80 1,504,060.80
Aug. 22, 2023 Item #7 Page 11 of 22
Settlement Maturity Type Issuer Par Invested Yield Weighted average Interest expected Return
06/13/22 01/31/24 TR US Treasury 2,000,000.00 1,942,288.94 2.900% 0.0007207 28,570.44 2,028,570.44
06/25/21 02/15/24 TR US Treasury 2,500,000.00 2,484,765.63 0.357% 0.0001135 8,252.76 2,508,252.76
11/15/21 02/29/24 TR US Treasury 2,500,000.00 2,600,183.50 2.283% 0.0007595 135,972.03 2,635,972.03
06/13/22 03/31/24 TR US Treasury 2,000,000.00 1,984,020.24 2.970% 0.0007539 80,901.64 2,080,901.64
12/07/21 04/15/24 TR US Treasury 2,000,000.00 1,985,937.50 0.677% 0.0001719 17,657.97 2,017,657.97
03/17/22 04/30/24 TR US Treasury 2,000,000.00 2,011,875.00 1.961% 0.0005048 94,972.38 2,094,972.38
10/21/22 05/15/24 TR US Treasury 1,750,000.00 1,694,057.40 2.500% 0.0005419 68,597.15 1,818,597.15
12/07/21 05/15/24 TR US Treasury 2,000,000.00 1,978,437.50 0.697% 0.0001763 12,196.13 2,012,196.13
03/01/21 06/30/24 TR US Treasury 2,500,000.00 2,614,215.00 0.370% 0.0001238 145,873.62 2,645,873.62
10/21/22 07/15/24 TR US Treasury 3,000,000.00 2,789,648.44 4.302% 0.0015354 19,504.08 3,019,504.08
10/21/22 09/30/24 TR US Treasury 2,000,000.00 1,912,187.50 4.511% 0.0011036 82,548.08 2,082,548.08
01/14/21 09/30/24 TR US Treasury 2,000,000.00 2,088,448.94 1.500% 0.0004008 111,263.74 2,111,263.74
06/07/21 11/30/24 TR US Treasury 2,000,000.00 2,073,437.50 0.436% 0.0001157 104,426.23 2,104,426.23
10/21/22 01/15/25 TR US Treasury 4,000,000.00 3,712,187.50 4.548% 0.0021601 100,516.30 4,100,516.30
07/15/21 02/28/25 TR US Treasury 2,000,000.00 2,040,312.50 0.563% 0.0001469 81,623.64 2,081,623.64
02/19/21 04/30/25 TR US Treasury 2,000,000.00 1,997,920.00 0.400% 0.0001023 31,450.28 2,031,450.28
02/19/21 05/31/25 TR US Treasury 2,000,000.00 1,987,280.00 0.400% 0.0001017 21,387.36 2,021,387.36
10/21/22 06/15/25 TR US Treasury 3,000,000.00 2,877,180.00 4.530% 0.0016678 228,586.07 3,228,586.07
01/11/21 09/30/25 TR US Treasury 2,500,000.00 2,481,332.50 0.250% 0.0000794 29,481.46 2,529,481.46
01/11/21 11/30/25 TR US Treasury 2,500,000.00 2,493,350.00 0.375% 0.0001196 45,793.27 2,545,793.27
03/01/21 02/28/26 TR US Treasury 3,000,000.00 2,964,726.56 0.740% 0.0002807 74,959.24 3,074,959.24
03/02/21 02/28/26 TR US Treasury 2,000,000.00 1,975,513.02 0.750% 0.0001896 49,945.65 2,049,945.65
12/27/21 11/15/26 TR US Treasury 2,500,000.00 2,594,531.25 1.200% 0.0003985 244,198.90 2,744,198.90
01/14/22 11/30/26 TR US Treasury 1,500,000.00 1,485,000.00 1.463% 0.0002780 91,432.01 1,591,432.01
05/08/23 01/31/27 TR US Treasury 1,500,000.00 1,485,855.00 3.500% 0.0006654 83,970.99 1,583,970.99
04/21/23 07/31/27 TR US Treasury 2,500,000.00 2,400,000.00 3.770% 0.0011577 294,181.63 2,794,181.63
01/25/23 12/31/27 TR US Treasury 500,000.00 508,167.05 3.570% 0.0002321 96,393.30 596,393.30
01/31/23 12/31/27 TR US Treasury 750,000.00 760,105.97 3.647% 0.0003547 144,108.25 894,108.25
US Treasury 79,000,000.00$ 78,157,188.12$ 1.761%2,591,754.87$ 81,591,754.87$
Corporate notes
07/24/18 07/24/23 CN US Bank NA (USBANK)1,250,000.00 1,251,625.00 3.371% 0.0002601 212,381.94 1,462,381.94
12/11/18 07/24/23 CN US Bank NA (USBANK)2,500,000.00 2,489,250.00 3.400% 0.0005217 21,597.22 2,521,597.22
01/24/19 07/24/23 CN US Bank NA (USBANK)1,000,000.00 1,010,000.00 3.156% 0.0001965 153,000.00 1,153,000.00
02/28/19 07/24/23 CN US Bank NA (USBANK)1,800,000.00 1,835,100.00 2.916% 0.0003298 269,620.00 2,069,620.00
08/15/22 08/15/23 CN Royal Bank of Canada (RY)2,000,000.00 2,000,000.00 3.550% 0.0004376 71,000.00 2,071,000.00
05/14/20 09/01/23 CN Public Service Electric 2,500,000.00 2,700,575.00 0.720% 0.0001199 267,899.31 2,767,899.31
12/23/19 11/20/23 CN State Street Corporation 2,000,000.00 2,130,440.00 1.958% 0.0002571 289,216.67 2,289,216.67
01/28/19 12/05/23 CN Johnson & Johnson (JNJ)1,500,000.00 1,541,250.00 2.765% 0.0002627 245,671.87 1,745,671.87
03/07/19 01/08/24 CN Toyota 1,000,000.00 1,017,865.00 2.950% 0.0001851 162,009.72 1,162,009.72
01/16/20 01/15/24 CN Wal-Mart (WMT)2,000,000.00 2,067,790.00 1.900% 0.0002422 260,436.11 2,260,436.11
05/16/19 01/23/24 CN Citibank 1,000,000.00 1,034,870.00 2.836% 0.0001809 171,043.06 1,171,043.06
02/13/20 01/23/24 CN Citibank 2,500,000.00 2,674,670.00 1.770% 0.0002918 359,930.56 2,859,930.56
02/13/20 01/23/24 CN Citibank 2,000,000.00 2,142,600.00 1.733% 0.0002289 287,944.44 2,287,944.44
02/20/20 01/23/24 CN Citibank 1,500,000.00 1,603,710.00 1.780% 0.0001760 214,893.75 1,714,893.75
10/11/19 02/01/24 CN JP Morgan Chase Bank (JPM)1,765,000.00 1,900,834.40 2.000% 0.0002343 294,473.10 2,059,473.10
01/24/22 02/26/24 CN Bank of America (BAC)3,000,000.00 2,945,610.00 1.300% 0.0002361 26,300.00 3,026,300.00
10/08/19 03/07/24 CN Microsoft (MSFT)1,500,000.00 1,581,000.00 1.604% 0.0001563 188,379.17 1,688,379.17
08/29/19 03/18/24 CN Blackrock Inc.2,000,000.00 2,162,500.00 1.640% 0.0002186 318,694.44 2,318,694.44
10/28/19 03/18/24 CN Blackrock Inc.1,000,000.00 1,071,360.00 1.801% 0.0001190 153,611.11 1,153,611.11
11/14/19 03/18/24 CN Blackrock Inc.1,000,000.00 1,065,420.00 1.923% 0.0001263 152,055.56 1,152,055.56
05/14/20 03/18/24 CN Blackrock Inc.3,000,000.00 3,300,600.00 0.845% 0.0001720 403,666.67 3,403,666.67
04/24/20 04/22/24 CN Wal-Mart (WMT)2,500,000.00 2,737,467.50 0.875% 0.0001476 329,541.67 2,829,541.67
04/24/20 04/22/24 CN Wal-Mart (WMT)2,000,000.00 2,191,860.00 0.700% 0.0000946 263,633.33 2,263,633.33
04/29/22 04/29/24 CN JP Morgan Chase Bank (JPM)1,500,000.00 1,500,000.00 3.125% 0.0002889 93,750.00 1,593,750.00
07/31/19 05/13/24 CN JP Morgan Chase Bank (JPM)2,000,000.00 2,119,320.00 2.300% 0.0003005 346,791.67 2,346,791.67
07/13/20 05/13/24 CN JP Morgan Chase Bank (JPM)3,000,000.00 3,331,290.00 0.700% 0.0001438 416,875.00 3,416,875.00
12/13/21 05/13/24 CN JP Morgan Chase Bank (JPM)1,750,000.00 1,859,392.50 1.000% 0.0001146 153,307.29 1,903,307.29
07/01/20 05/15/24 CN Bank of NY Mellon (BNY)3,000,000.00 3,316,860.00 0.560% 0.0001145 392,416.67 3,392,416.67
12/03/21 06/03/24 CN Bank of America (BAC)2,500,000.00 2,500,000.00 1.000% 0.0001541 62,500.00 2,562,500.00
06/27/19 07/15/24 CN PEFCO 2,500,000.00 2,565,850.00 1.900% 0.0003005 309,142.36 2,809,142.36
08/22/19 08/22/24 CN Amazon.com Inc. (AMZN)2,000,000.00 2,087,280.00 2.800% 0.0003602 279,377.78 2,279,377.78
10/17/19 08/22/24 CN Amazon.com Inc. (AMZN)2,500,000.00 2,604,850.00 1.860% 0.0002987 339,305.56 2,839,305.56
02/18/20 10/24/24 CN Bank of NY Mellon (BNY)3,055,000.00 3,093,737.40 1.816% 0.0003463 300,459.25 3,355,459.25
11/15/21 11/15/24 CN BMO 2,000,000.00 2,000,000.00 1.000% 0.0001233 60,000.00 2,060,000.00
01/15/20 01/15/25 CN Johnson & Johnson (JNJ)1,820,000.00 1,882,380.50 1.586% 0.0001840 238,875.00 2,058,875.00
04/08/20 01/15/25 CN Johnson & Johnson (JNJ)3,000,000.00 3,231,960.00 0.906% 0.0001805 375,593.75 3,375,593.75
07/13/20 01/15/25 CN Johnson & Johnson (JNJ)1,000,000.00 1,090,640.00 0.510% 0.0000343 118,270.83 1,118,270.83
09/10/21 02/09/25 CN Apple Inc. (AAPL)1,500,000.00 1,588,155.00 0.753% 0.0000737 128,020.83 1,628,020.83
04/13/20 02/14/25 CN Novartis Capital Corp 3,310,000.00 3,379,576.20 1.300% 0.0002708 280,131.74 3,590,131.74
06/03/20 03/15/25 CN CME Group Inc 2,771,000.00 3,050,981.84 0.730% 0.0001373 397,638.50 3,168,638.50
12/31/20 03/27/25 CN Nike Inc.2,867,000.00 3,090,740.68 0.500% 0.0000953 291,669.47 3,158,669.47
05/13/20 04/01/25 CN Flordia Power & Light 3,667,000.00 3,980,565.17 1.020% 0.0002503 509,193.51 4,176,193.51
12/07/21 06/10/25 CN Royal Bank of Canada (RY)2,000,000.00 1,989,460.00 1.304% 0.0001599 80,691.67 2,080,691.67
04/23/21 09/01/25 CN Johnson & Johnson (JNJ)1,250,000.00 1,241,700.00 0.705% 0.0000540 29,944.44 1,279,944.44
09/20/21 10/29/25 CN Procter & Gamble (PG)1,500,000.00 1,487,460.00 0.757% 0.0000694 33,893.75 1,533,893.75
05/17/21 12/14/25 CN Visa Inc 1,250,000.00 1,368,500.00 0.910% 0.0000768 180,140.62 1,430,140.62
08/23/21 01/26/26 CN Bank of America (BAC)1,000,000.00 989,470.00 1.000% 0.0000610 33,550.00 1,033,550.00
04/12/21 02/24/26 CN Merck 1,500,000.00 1,485,750.00 0.950% 0.0000870 54,750.00 1,554,750.00
03/01/21 02/26/26 CN JP Morgan Chase Bank (JPM)2,000,000.00 2,000,000.00 0.800% 0.0000986 80,000.00 2,080,000.00
03/01/21 03/01/26 CN Johnson & Johnson (JNJ)2,500,000.00 2,697,950.00 0.750% 0.0001248 306,250.00 2,806,250.00
03/03/21 03/03/26 CN JP Morgan Chase Bank (JPM)2,000,000.00 2,000,000.00 1.000% 0.0001233 100,000.00 2,100,000.00
06/11/21 06/11/26 CN JP Morgan Chase Bank (JPM)2,000,000.00 2,000,000.00 1.150% 0.0001418 115,000.00 2,115,000.00
07/12/21 06/25/26 CN Bank of America (BAC)3,000,000.00 2,998,500.00 1.210% 0.0002237 178,300.00 3,178,300.00
07/22/21 07/16/26 CN Massmtual Global 3,750,000.00 3,784,537.50 1.010% 0.0002356 224,250.00 3,974,250.00
08/11/21 08/08/26 CN Microsoft (MSFT)4,000,000.00 4,292,240.00 0.900% 0.0002381 293,040.00 4,293,040.00
08/25/21 08/25/26 CN JP Morgan Chase Bank (JPM)2,000,000.00 2,000,000.00 1.200% 0.0001479 120,000.00 2,120,000.00
09/10/21 09/10/26 CN Bank of America (BAC)2,000,000.00 2,000,000.00 1.150% 0.0001418 115,000.00 2,115,000.00
09/24/21 09/24/26 CN Bank of America (BAC)2,000,000.00 2,000,000.00 1.250% 0.0001541 125,000.00 2,125,000.00
01/19/22 12/18/26 CN Metlife (MET)4,000,000.00 4,281,720.00 1.940% 0.0005120 678,116.67 4,678,116.67
12/30/21 12/30/26 CN BMO 2,450,000.00 2,450,000.00 2.000% 0.0003020 245,000.00 2,695,000.00
02/04/22 02/01/27 CN Procter & Gamble (PG)2,000,000.00 2,010,459.28 1.331% 0.0001650 189,683.33 2,189,683.33
Aug. 22, 2023 Item #7 Page 12 of 22
Settlement Maturity Type Issuer Par Invested Yield Weighted average Interest expected Return
05/11/23 02/01/27 CN Procter & Gamble (PG)1,000,000.00 935,367.00 3.620% 0.0002087 76,000.00 1,076,000.00
02/25/22 02/25/27 CN JP Morgan Chase Bank (JPM)5,000,000.00 5,000,000.00 2.550% 0.0007859 637,500.00 5,637,500.00
04/18/22 03/03/27 CN Johnson & Johnson (JNJ)1,750,000.00 1,757,538.77 2.850% 0.0003087 251,671.87 2,001,671.87
07/08/22 03/25/27 CN Procter & Gamble (PG)2,500,000.00 2,456,475.00 3.200% 0.0004846 329,972.22 2,829,972.22
06/23/23 04/07/27 CN New York Life Global 1,500,000.00 1,428,750.00 4.630% 0.0004077 195,000.00 1,695,000.00
06/23/22 06/22/27 CN BAC 3,000,000.00 3,000,000.00 5.000% 0.0009246 750,000.00 3,750,000.00
05/09/23 08/15/27 CN Colgate-Palmolive (COLGAT)2,000,000.00 1,997,600.00 3.694% 0.0004548 223,408.33 2,264,533.33
03/10/23 10/01/27 CN Seattle Children Hosp (CHLDHS)1,000,000.00 852,445.33 5.000% 0.0002627 222,581.34 1,222,581.34
10/18/22 10/18/27 CN Royal Bank of Canada (RY)2,500,000.00 2,500,000.00 5.700% 0.0008784 712,500.00 3,212,500.00
11/15/22 11/15/27 CN BMO 4,000,000.00 4,000,000.00 6.250% 0.0015410 1,250,000.00 5,250,000.00
01/18/23 01/18/28 CN Royal Bank of Canada (RY)2,500,000.00 2,500,000.00 5.450% 0.0008398 691,090.22 3,191,090.22
Corporate notes 157,005,000.00$ 162,235,899.07$ 1.918%18,732,653.37$ 175,778,778.37$
Certificate of deposit
07/31/18 07/31/23 CD Bank Of New England 249,000.00 249,000.00 3.250% 0.0003805 40,462.50 289,462.50
07/31/18 07/31/23 CD Medallion Bank Utah 249,000.00 249,000.00 3.150% 0.0003688 40,462.50 289,462.50
02/13/19 08/14/23 CD First Missouri State Bank 246,000.00 246,000.00 2.850% 0.0003296 31,549.50 277,549.50
09/26/18 09/26/23 CD Bank Midwest 245,000.00 245,000.00 3.150% 0.0003629 38,587.50 283,587.50
09/28/18 09/28/23 CD Bank Of Baroda 245,000.00 245,000.00 3.300% 0.0003801 40,425.00 285,425.00
11/15/18 10/30/23 CD National Cooperative Bank 245,000.00 245,000.00 3.450% 0.0003974 41,891.98 286,891.98
11/14/18 11/14/23 CD Bank Hapoalim Bm 245,000.00 245,000.00 3.500% 0.0004032 42,875.00 287,875.00
11/15/18 11/15/23 CD Morgan Stanley Pvt Bank 245,000.00 245,000.00 3.550% 0.0004089 43,487.50 288,487.50
11/29/18 11/29/23 CD State Bank Of India 245,000.00 245,000.00 3.600% 0.0004147 44,100.00 289,100.00
05/16/19 05/16/24 CD Enterprise Bank 246,000.00 246,000.00 2.600% 0.0003007 31,980.00 277,980.00
05/24/19 05/24/24 CD Eagle Bank 249,000.00 249,000.00 2.500% 0.0002927 31,125.00 280,125.00
06/28/19 06/28/24 CD First State Bank Dequeen 249,000.00 249,000.00 2.300% 0.0002693 28,635.00 277,635.00
07/31/19 07/31/24 CD Capital One 247,000.00 247,000.00 2.250% 0.0002613 27,787.50 274,787.50
08/30/19 08/30/24 CD Washington Federal 249,000.00 249,000.00 2.000% 0.0002341 24,900.00 273,900.00
09/13/19 09/13/24 CD Enerbank Usa 249,000.00 249,000.00 1.750% 0.0002049 21,787.50 270,787.50
09/18/19 09/30/24 CD Celtic Bank 249,000.00 249,000.00 1.700% 0.0001990 20,956.25 269,956.25
11/26/19 11/26/24 CD Raymond James Bank NA 247,000.00 247,000.00 1.850% 0.0002148 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% 0.0002207 23,490.72 270,490.72
02/27/20 02/27/25 CD Bell Bank Corp 249,000.00 249,000.00 1.600% 0.0001873 19,941.88 268,941.88
03/13/20 03/13/25 CD Choice Financial Group 248,000.00 248,000.00 1.100% 0.0001283 13,647.47 261,647.47
03/13/20 03/13/25 CD American Eagle bank 249,000.00 249,000.00 1.100% 0.0001288 13,702.54 262,702.54
03/18/20 03/18/25 CD Poppy Bank 249,000.00 249,000.00 1.100% 0.0001288 13,702.54 262,702.54
03/19/20 03/19/25 CD Somerset Trust 249,000.00 249,000.00 1.000% 0.0001171 12,456.88 261,456.88
03/20/20 03/20/25 CD Iberia Bank 248,000.00 248,000.00 1.000% 0.0001166 12,406.79 260,406.79
03/27/20 03/27/25 CD Baycoast Bank 248,000.00 248,000.00 0.950% 0.0001108 11,786.45 259,786.45
03/27/20 03/27/25 CD American Commerce Bank 249,000.00 249,000.00 0.950% 0.0001112 11,834.03 260,834.03
04/08/20 04/08/25 CD Capital One 248,000.00 248,000.00 1.600% 0.0001866 19,850.88 267,850.88
05/15/20 05/15/25 CD Flagstar Bank 248,000.00 248,000.00 0.850% 0.0000991 10,545.77 258,545.77
05/15/20 05/15/25 CD Encore Bank 249,000.00 249,000.00 0.800% 0.0000937 9,965.41 258,965.41
05/26/20 05/27/25 CD Haddon Savings Bank 248,000.00 248,000.00 0.750% 0.0000875 9,310.19 257,310.19
05/29/20 05/29/25 CD Home Loan Inv Bank 249,000.00 249,000.00 0.800% 0.0000937 9,965.41 258,965.41
05/29/20 05/29/25 CD Pacific Western Bank 249,000.00 249,000.00 0.700% 0.0000820 8,719.77 257,719.77
05/29/20 05/29/25 CD Malaga Bank 249,000.00 249,000.00 0.700% 0.0000820 8,719.87 257,719.87
06/10/20 06/10/25 CD Stockman Bank 249,000.00 249,000.00 0.600% 0.0000702 7,474.10 256,474.10
07/17/20 07/17/25 CD Preferred Bank 249,000.00 249,000.00 0.500% 0.0000585 6,228.46 255,228.46
07/16/20 07/28/25 CD Toyota Financial Savings Bank 249,000.00 249,000.00 0.650% 0.0000761 8,096.93 257,096.93
07/29/20 07/29/25 CD Continental Bank 249,000.00 249,000.00 0.500% 0.0000585 6,228.46 255,228.46
08/09/22 08/04/25 CD Ally Bank (GMATBK)201,000.00 201,000.00 3.400% 0.0003213 20,427.10 221,427.10
08/14/20 08/14/25 CD Luana Savings Bank 249,000.00 249,000.00 0.450% 0.0000527 5,605.57 254,605.57
08/19/20 08/19/25 CD 1st Financial Bank 249,000.00 249,000.00 0.450% 0.0000527 5,605.82 254,605.82
08/20/20 08/20/25 CD 1st Carolina Bank 249,000.00 249,000.00 0.450% 0.0000527 5,605.82 254,605.82
08/20/20 08/20/25 CD Northeast Community Bank 249,000.00 249,000.00 0.450% 0.0000527 5,605.82 254,605.82
09/04/20 09/04/25 CD Crown Bank 249,000.00 249,000.00 0.400% 0.0000468 4,982.62 253,982.62
09/15/20 09/15/25 CD Merrick 249,000.00 249,000.00 0.400% 0.0000468 4,982.62 253,982.62
10/22/20 09/25/25 CD Commonwealth Bus Bank 249,000.00 249,000.00 0.400% 0.0000468 4,908.94 253,908.94
09/29/20 09/29/25 CD Landmark Community 249,000.00 249,000.00 0.400% 0.0000468 4,982.58 253,982.58
10/22/20 10/08/25 CD Live Oak Bank 249,000.00 249,000.00 0.400% 0.0000468 4,944.42 253,944.42
10/15/20 10/15/25 CD Maine Comm Bank 249,000.00 249,000.00 0.350% 0.0000410 4,359.94 253,359.94
10/16/20 10/16/25 CD First Security Bank Wash 249,000.00 249,000.00 0.350% 0.0000410 4,359.94 253,359.94
11/06/20 10/23/25 CD Royal Savings Bank 249,000.00 249,000.00 0.400% 0.0000468 4,944.42 253,944.42
11/18/20 11/18/25 CD First US Bank 249,000.00 249,000.00 0.400% 0.0000468 4,982.62 253,982.62
12/18/20 12/18/25 CD Third Federal Savings and Loan 249,000.00 249,000.00 0.450% 0.0000527 5,605.56 254,605.56
12/18/20 12/18/25 CD Unity Bank 249,000.00 248,377.50 0.400% 0.0000467 4,982.72 253,982.72
01/08/21 12/23/25 CD Texas Bank Henderson 249,000.00 249,000.00 0.450% 0.0000527 5,556.70 254,556.70
12/28/20 12/23/25 CD National Bank of NY City 249,000.00 248,688.75 0.400% 0.0000468 4,968.98 253,968.98
12/23/20 12/23/25 CD Belmont Savings Bank 249,000.00 248,377.50 0.400% 0.0000467 4,982.62 253,982.62
01/08/21 01/08/26 CD Bank of Santa Clarita 249,000.00 248,688.75 0.400% 0.0000468 4,982.62 253,982.62
01/08/21 01/08/26 CD Grand Bank Tulsa 249,000.00 248,688.75 0.400% 0.0000468 4,982.62 253,982.62
01/26/21 01/26/26 CD Commercial Bank 249,000.00 248,751.00 0.471% 0.0000550 5,605.82 254,605.82
01/27/21 01/27/26 CD Central Bank Storm Lake 249,000.00 248,751.00 0.471% 0.0000550 5,605.82 254,605.82
02/18/21 01/29/26 CD Hometown Bk of Alabama 249,000.00 249,000.00 0.400% 0.0000468 4,928.04 253,928.04
02/26/21 02/26/26 CD United Rep Bk Omaha 249,000.00 249,000.00 0.400% 0.0000468 4,982.61 253,982.61
03/03/21 03/03/26 CD CFG Community Bk 249,000.00 249,000.00 0.400% 0.0000468 4,982.73 253,982.73
03/10/21 03/10/26 CD Bristol Morgan Bank 249,000.00 249,000.00 0.450% 0.0000527 5,605.82 254,605.82
09/03/21 09/03/26 CD Syncrony Bank (SYF)249,000.00 249,000.00 0.900% 0.0001054 11,205.00 260,205.00
09/09/21 09/09/26 CD UBS Bank USA (UBS)249,000.00 249,000.00 0.950% 0.0001112 11,834.03 260,834.03
04/05/22 02/23/27 CD Sallie May Bank 247,000.00 242,902.27 2.564% 0.0002928 26,574.50 273,574.50
03/08/23 03/08/27 CD Mifflinburg Bank and Trust Company 249,000.00 249,000.00 4.650% 0.0005444 46,345.77 295,345.77
03/09/22 03/09/27 CD Nelnet Bank Inc (NELNTB)247,000.00 247,000.00 1.950% 0.0002265 24,095.69 271,095.69
03/09/22 03/09/27 CD Eaglemark Savings (EAGSBK)247,000.00 247,000.00 2.000% 0.0002323 24,713.53 271,713.53
03/16/22 03/10/27 CD Beal Bank NV (BSVBK)247,000.00 247,000.00 1.800% 0.0002090 22,169.09 269,169.09
03/16/22 03/10/27 CD Beal Bank TX (BEALBK)247,000.00 247,000.00 1.800% 0.0002090 22,169.09 269,169.09
03/23/22 03/23/27 CD American Exp Bank (AXP)247,000.00 247,000.00 2.200% 0.0002555 27,184.89 274,184.89
02/15/22 04/15/27 CD First Business Bank 245,000.00 245,000.00 3.900% 0.0004492 33,790.69 278,790.69
05/18/22 05/19/27 CD Discover Bank 246,000.00 246,000.00 3.200% 0.0003701 39,403.14 285,403.14
12/15/22 12/15/27 CD Forebright Bank (FORBBK)249,000.00 248,651.40 4.031% 0.0004713 49,827.34 298,827.34
12/16/22 12/16/27 CD Southern Bank (SBSARD)245,000.00 245,000.00 4.000% 0.0004608 49,026.84 294,026.84
02/22/23 02/22/28 CD Partners Bank California 245,000.00 245,000.00 3.850% 0.0004435 47,188.34 292,188.34
Aug. 22, 2023 Item #7 Page 13 of 22
Settlement Maturity Type Issuer Par Invested Yield Weighted average Interest expected Return
03/08/23 03/07/28 CD Bank Five Nine 249,000.00 249,000.00 4.550% 0.0005327 56,678.44 305,678.44
03/10/23 03/10/28 CD BMW Bank North America 244,000.00 244,000.00 4.600% 0.0005277 56,181.50 300,181.50
03/29/23 03/29/28 CD Bridgewater Bk 249,000.00 249,000.00 4.800% 0.0005619 59,825.54 308,825.54
03/31/23 03/31/28 CD City Natl Bk - Los Angeles 243,000.00 243,000.00 5.000% 0.0005713 60,816.56 303,816.56
04/03/23 04/03/28 CD University Bank NA 249,000.00 249,000.00 4.800% 0.0005619 59,825.53 308,825.53
06/06/23 04/14/28 CD Customers Bank 244,000.00 244,000.00 4.500% 0.0005162 54,960.16 298,960.16
05/16/23 05/16/28 CD BMO Harris Bank NA 244,000.00 244,000.00 4.500% 0.0005162 54,700.00 298,700.00
06/06/23 06/21/28 CD Univest Bank & Trust 249,000.00 249,000.00 4.500% 0.0005268 56,086.50 305,086.50
Certificate of deposit 21,276,000.00$ 21,268,876.92$ 1.794%1,860,632.88$ 23,136,632.88$
Mortgage backed securities (agency)
03/10/21 08/25/24 NM FHLM - FHMS K728 - 3137FBTA4 2,898,220.41 3,131,682.62 3.064% 0.0026977 153,244.21 3,051,464.62$
04/15/20 11/25/24 NM FHMS KHG1 A1 - 3137F32A1 1,491,869.31 1,595,460.26 0.999% 0.0004481 217,130.28 1,708,999.59
07/22/22 12/25/24 NM FHLMC FHMS K048 A1 - 3137BL6J2 1,164,695.50 1,153,048.55 3.425% 0.0011103 64,096.69 1,228,792.19
06/30/22 04/25/25 NM FHMS K051 A1 - 3137BM7B6 2,822,581.73 2,800,530.31 3.299% 0.0025975 163,239.98 2,985,821.71
07/24/20 05/25/25 NM FRESB MFM - 30315EAA4 894,960.94 899,338.22 0.830% 0.0002099 19,418.08 914,379.02
03/15/21 05/25/25 NM FHLMC - FHMS KPLB A 2,000,000.00 2,157,500.00 2.770% 0.0016802 110,231.60 2,110,231.60
08/27/20 06/15/25 NM FHLMC FHR 3544 BC - 31398E6W9 105,709.05 173,449.96 0.532% 0.0000259 83,540.73 189,249.78
02/19/21 01/25/26 NM FRESB 2021-SB83 - 30318NAA1 1,287,797.15 1,293,165.54 0.505% 0.0001836 22,551.11 1,310,348.26
03/25/21 03/25/26 NM FHLM - KHMS K055 2,500,000.00 2,700,000.00 2.673% 0.0020290 154,976.68 2,654,976.68
08/20/21 03/25/26 NM FHLMC - FHMS K1R1 - 3137BP4J5 1,491,437.16 1,335,573.09 0.414% 0.0001555 239,848.91 1,731,286.07
07/23/21 04/25/26 NM FRESB - 30321CAQ5 1,789,292.16 1,797,696.44 0.746% 0.0003770 40,587.56 1,829,879.72
01/21/22 11/25/26 NM FRESB 2022-SB94 - 30324QAC2 4,252,126.53 4,271,792.41 1.500% 0.0018015 171,584.69 4,423,711.22
04/22/22 04/25/27 NM FRESB 2022-SB97 A5F - 30311SAA7 3,399,771.51 3,265,031.78 2.803% 0.0025730 145,011.91 3,544,783.42
10/28/22 06/25/27 NM FRESB 2022-SB103 A5F - 30329MAA0 1,595,437.33 1,429,331.55 4.989% 0.0020048 186,362.10 1,781,799.43
11/18/22 09/25/27 NM FRESB - 30329QAA1 3,978,768.62 3,631,971.20 2.600% 0.0026549 248,449.63 4,227,218.25
01/27/23 11/01/27 NM FRESB - FR WN2287 3,000,000.00 2,972,812.50 3.929% 0.0032835 259,613.30 3,259,613.30
12/16/22 12/16/27 NM FNMA AM6424 - 3138L7D60 992,456.25 960,821.71 4.212% 0.0011378 77,476.88 1,069,933.13 Mortgage backed securities (agency)35,665,123.65$ 35,569,206.14$ 2.497%2,357,364.34$ 38,022,487.99$
Municpal Bonds
06/09/21 08/01/23 SC San Dieguito Union HS 500,000.00 500,000.00 0.275% 0.0000196 2,948.61 502,948.61
06/17/21 03/15/24 SC Ada&Canyon Cty SD 1,500,000.00 1,710,405.00 0.520% 0.0001266 237,083.33 1,737,083.33
05/27/21 06/15/24 SC Cache County SD 3,250,000.00 3,505,872.50 0.400% 0.0001996 297,375.00 3,547,375.00
02/26/21 10/01/24 SC State of Hawaii 3,000,000.00 3,039,420.00 0.433% 0.0001874 86,549.17 3,086,549.17
03/17/22 10/01/24 SC State of Hawaii (HIS)2,000,000.00 1,933,240.00 2.160% 0.0005945 40,723.78 2,040,723.78
03/01/21 11/01/24 SC City of San Francisco Util 1,000,000.00 1,004,450.00 0.600% 0.0000858 26,523.31 1,026,523.31
06/02/21 12/01/24 SC Mason & Kitsap Counties SD 640,000.00 640,000.00 0.538% 0.0000490 12,041.64 652,041.64
07/19/21 02/01/25 SC Amarillo Independent SD 1,800,000.00 1,762,290.00 0.600% 0.0001505 - 1,800,000.00
03/22/21 02/15/25 SC Texas St Tech Univ 2,500,000.00 2,524,850.00 0.679% 0.0002441 91,389.86 2,591,389.86
06/29/21 05/15/25 SC University of California 1,960,000.00 1,966,154.40 0.799% 0.0002236 67,111.92 2,027,111.92
03/01/21 05/15/25 SC University of California 1,500,000.00 1,517,250.00 0.600% 0.0001296 55,724.13 1,555,724.13
02/02/21 06/15/25 SC County of Multnomah OR 2,000,000.00 2,006,040.00 0.430% 0.0001228 37,553.89 2,037,553.89
01/28/21 07/01/25 SC University of California UNVHGR 1,805,000.00 1,995,210.90 0.509% 0.0001446 244,645.68 2,049,645.68
06/30/22 09/15/25 SC State of Connecticut (CTS)2,850,000.00 2,850,000.00 3.201% 0.0012986 342,250.56 3,192,250.56
05/18/21 04/01/26 SC State of California 1,250,000.00 1,353,350.00 0.910% 0.0001753 161,300.35 1,411,300.35
04/01/21 04/01/26 SC State of California 4,140,000.00 4,478,652.00 0.970% 0.0006185 548,550.00 4,688,550.00
12/07/21 06/15/26 SC Marion County School (MARSCD)1,880,000.00 1,885,245.20 1.374% 0.0003688 122,255.56 2,002,255.56
09/01/21 06/15/26 SC Portland Community College (PORHGR)1,100,000.00 1,102,992.00 0.841% 0.0001321 47,357.32 1,147,357.32
02/11/22 07/01/26 SC Sthrn CA ST Pub Pwr Auth (STNPWR)2,485,000.00 2,415,643.65 1.930% 0.0006637 15,705.20 2,500,705.20
01/06/22 08/01/26 SC San Jose Redev (SJSDEV)3,000,000.00 3,220,260.00 1.507% 0.0006909 476,400.00 3,476,400.00
08/12/21 08/01/26 SC San Diego Community College (SDGHGR)3,000,000.00 3,209,550.00 0.860% 0.0003930 342,742.58 3,342,742.58
08/23/21 08/01/26 SC Santa Barbara CA USD (SBBSCD)500,000.00 511,970.00 0.842% 0.0000614 33,041.17 533,041.17
08/23/21 08/01/26 SC San Jose Evergreen CC (SJSHGR)750,000.00 799,522.50 0.842% 0.0000958 81,862.08 831,862.08
08/10/22 08/01/26 SC Minnesota State (MNS)1,215,000.00 1,215,000.00 3.250% 0.0005622 174,512.81 1,389,512.81
03/02/22 10/01/26 SC State of Hawaii (HIS)2,000,000.00 1,938,920.00 1.810% 0.0004996 101,809.78 2,101,809.78
02/08/22 10/01/26 SC CAS 2,400,000.00 2,468,808.00 1.730% 0.0006080 264,891.67 2,664,891.67
04/18/22 12/01/26 SC CASWTR 2,705,000.00 2,475,237.30 3.035% 0.0010695 170,415.98 2,875,415.98
03/29/22 12/01/26 SC CASWTR 1,425,000.00 1,322,001.00 2.708% 0.0005097 90,565.95 1,515,565.95
12/20/21 12/01/26 SC CASWTR 1,275,000.00 1,257,405.00 1.051% 0.0001881 84,523.29 1,359,523.29
06/13/22 05/01/27 SC LA Unified (LOSSCD)3,500,000.00 3,883,600.00 3.820% 0.0021120 977,643.33 4,477,643.33
06/06/23 07/01/27 SC Hawaii State (HISAPT)1,125,000.00 1,004,962.50 4.720% 0.0006753 82,624.50 1,207,624.50
08/27/23 07/01/27 SC Los Angeles Dept of Water & Power (LASUTL)1,500,000.00 1,580,685.00 4.100% 0.0009226 345,669.33 1,845,669.33
06/28/23 07/01/27 SC Honolulu Wastewater System Revenue 1,500,000.00 1,392,885.00 4.460% 0.0008844 168,412.50 1,668,412.50
05/09/23 08/01/27 SC Fremont CA Unified School District 2,000,000.00 1,795,450.00 3.750% 0.0009585 94,110.34 2,094,110.34
02/22/23 08/01/27 SC SBDHGR 1,500,000.00 1,328,325.00 1.480% 0.0002799 107,266.25 1,607,266.25
05/15/23 08/15/27 SC University of California 1,000,000.00 908,270.00 3.810% 0.0004927 52,640.00 1,052,640.00
06/16/23 11/15/27 SC Oregon State Dept of Transportation 2,000,000.00 1,738,740.00 4.370% 0.0010817 97,560.00 2,097,560.00
Municpal Bonds 69,555,000.00$ 70,242,656.95$ 1.762%6,183,780.87$ 75,738,780.87$
Cash
12577 Wells Fargo Bank - General 2,254,087.00 2,254,087.00 0.100% 0.0000140 185.27 2,254,272.27
12577 Wells Fargo Sweep account 6,628,166.18 6,628,166.18 4.959% 0.0020444 27,015.08 6,655,181.26
12577 Wells Fargo Bank - Custody 9,108,823.08 9,108,823.08 0.100% 0.0000567 748.67 9,109,571.75
12577 CAMP 141,006,057.08 141,006,057.08 5.240% 0.0459566 607,291.84 141,613,348.92
12577 LAIF City 203,425.54 203,425.54 3.260% 0.0000412 552.64 203,978.18 12577 LAIF CMWD 822,230.38 822,230.38 3.260%0.0001667 2,233.73 824,464.11
12577 LAIF CPFA 753,193.57 753,193.57 3.260%0.0001527 2,046.18 755,239.75
Cash 160,775,982.83$ 160,775,982.83$ 4.843%640,073.40$ 161,416,056.23$
GRAND TOTAL 874,350,106.48$ 880,334,153.86$ 2.2174%53,271,368.93$ 927,644,082.91$
Aug. 22, 2023 Item #7 Page 14 of 22
City of Carlsbad investment portfolio
Fund equity in pooled investments
As of June 30, 2023
Cash balance by fund:
General 185,166,409
Special revenue 32,855,918
Capital projects:
Infrastructure replacement 117,676,704
Special districts 107,992,030
General capital construction 40,152,216
Public facilities fees 29,517,878
Traffic impact fees 22,764,387
Gas tax 18,507,129
Park development 15,401,263
Technology investment 11,086,584
TransNet taxes 7,763,404
Drainage fees 5,011,606
Capital project subtotal 375,873,203
Enterprise:
Carlsbad Municipal Water District 142,392,411
Sewer fund 45,262,182
Storm water 6,776,583
Solid waste 4,165,717
Golf course 5,602,080
Enterprise subtotal 204,198,973
Internal service 65,601,006
Fiduciary 9,496,921
Total general ledger balance **873,192,430
Reconciling adjustments (1)1,511,720
Total treasurer's investment portfolio at amortized cost $874,704,150
**Figures based on best estimate at the time report run on 07/12/2023.
(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. 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
Aug. 22, 2023 Item #7 Page 15 of 22
City of Carlsbad investment portfolio
Security ratings and outlooks
As of June 30, 2023
Corporate notes Moody's S&P Fitch Outlook
3M Company A2 A - Neg/Neg
Amazon.com Inc.A1 AA AA- Stable/Stable/Stable
Apple Inc.Aaa AA+Stable/Stable/
Bank of America A1 A- AA- Stable/ /Stable
Bank of Montreal A2 A+ AA- Stable/Stable/Neg
Bank of New York Mellon A1 A AA- Stable/Stable/Stable
Blackrock Inc.Aa3 AA-Stable/Stable/
Century Housing Corp AA AA / /Stable
Citibank Aa3 A+ A+ Stable/Stable/Stable
CME Group Aa3 AA- AA- Stable/Stable/Stable
Colgate-Palmolive Aa3 AA-Stable/Negative
Florida Power & Light Aa2 A+ AA- Stable/Stable/Stable
Johnson & Johnson Aaa AAA Stable/Neg
JP Morgan Chase Bank A1 A- AA- Stable/Stable/Stable
MassMutual Global Aa3 AA+ AA+ /Stable/
Merck A1 A+Stable/Stable/
MetLife Aa3 AA- AA- /Stable/
Microsoft Aaa AAA Stable/Stable/
Nike Inc.A1 AA-Stable/Stable/
New York Life Global Aaa AA+ AAA Stable
Novartis Capital Corp A1 AA- AA- Positive/Stable
Procter & Gamble Aa3 AA-Stable/Stable/
Private Export Funding Aaa AAA stable/negative
Public Service Electric A1 A Stable/Stable/
Royal Bank of Canada A1 A AA- Stable/Stable/Stable
Seattle Children's Hospital Aa2 AA Stable
State Street Corporation A1 A AA- Stable/Stable/Stable
Toyota A1 A+ A+ Stable/Stable/Stable
US Bank NA A2 A+ A+ stable/stable/stable
Visa Inc.Aa3 AA-Stable/Stable/
Wal-Mart Aa2 AA AA Stable/Stable/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.
Mortgage backed securities Moody's S&P Fitch Outlook
FHLMC Aaa AA+Stable
FNMA Aaa AAA Stable
FRESB Aaa AA+Stable
Ratings of mortgage backed securities must be AA or better by one of the three: Moody's, S&P, or Fitch.
Exhibit 8
Aug. 22, 2023 Item #7 Page 16 of 22
Municipal Bonds Moody's S&P Fitch Outlook
Ada/Canyon Cty SD Aa1 AA+Stable
Amarillo Independent SD Aaa AAA Stable
Cache County SD Aaa AAA1 AAA1 Stable
City of San Francisco Util Aa2 AA-Stable
County of Multnomah Aaa AAA Stable
Fremont CA Unified Aa2 AA-Stable
Honolulu Wastewater Aa3 AA- Stable
Los Angeles Water & Power Aa3 AA-Stable
LA County SD Aa3 A+Stable
Marion County SD Aa1 A-Stable
Mason/Kitsap Cty SD Aaa AA+Stable
Minnesota State Aaa AAA AAA Stable
Oregon State Dept of Transp Aa1 AAA AA+ Stable
Portland CC Aa1 AA+Stable
San Bernardino CCD Aa1 AA Stable
San Diego CC Aaa AAA Stable
San Dieguito Union HS Aa1 AA Stable
San Francisco Public Utl Comm Aa2 AA-Stable
San Jose Evergreen CC Aa1 AA+Stable
Santa Barbara CA USD Aa1 AA Stable
San Jose Redevelopment Aa1 AA AA Stable
Southern CA Public Power Aa1 AA- AA-Stable
State of California Aa2 AA- AA Stable/positive/stable
State of Connecticut Aa3 A+ AA-Stable
State of Hawaii Aa2 AA+ AA Stable
Texas Tech University Aa1 AA+ Stable
University of California Aa2 AA AA Stable
Ratings of municipal bonds must be AA or better by one and A or better another of the three: Moody's, S&P, or Fitch.
Investments with subsequent changes in credit rating *
Corporate notes Moody's S&P Fitch Maturity date Purchased Book value
3M Company A2 A -03/07/24 12/19/19 1,512,540$
Merck A1 A+04/24/26 04/12/21 1,492,249$
Public Service Electric A1 A 09/01/23 05/14/20 2,510,139$
Toyota A1 A+A+01/08/24 07/01/19 1,001,919$
US Bank NA A2 A+A+07/24/23 12/11/18 6,550,523$
13,067,369$
* All investments were in compliance with the city's investment policy unless otherwise denoted.
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.
Aug. 22, 2023 Item #7 Page 17 of 22
City of Carlsbad investment portfolio
Portfolio allocation at amortized cost by issuer
As of June 30, 2023
Corporate notes Amortized cost Portfolio allocation*
3M Company 1,512,540$ 0.17%
Amazon.com Inc.4,544,669 0.52%
Apple Inc.1,541,459 0.18%
Bank of America 16,475,985 1.88%
Bank of Montreal 8,450,000 0.97%
Bank of New York Mellon 6,137,704 0.70%
Blackrock Inc.7,103,657 0.81%
Citibank 7,064,134 0.81%
CME Group 2,870,831 0.33%
Colgate-Palmolive 1,954,997 0.22%
Florida Power & Light 3,779,370 0.43%
Johnson & Johnson 13,055,761 1.49%
JP Morgan Chase Bank 23,169,153 2.65%
Massmutual Global 3,771,081 0.43%
Merck 1,492,249 0.17%
Metlife 4,197,634 0.48%
Microsoft 4,181,654 0.48%
New York Life Global 1,429,168 0.16%
Nike Inc.2,958,784 0.34%
Novartis Capital Corp 3,333,299 0.38%
Procter & Gamble 6,903,711 0.79%
Private Export Funding Corp.2,513,554 0.29%
Public Service Electric 2,510,139 0.29%
Royal Bank of Canada 8,994,167 1.03%
Seattle Children's Hospital 857,452 0.10%
State Street Corporation 2,012,886 0.23%
Toyota 1,001,919 0.11%
US Bank NA 6,550,523 0.75%
Visa Inc.1,313,531 0.15%
Wal-Mart 6,606,961 0.76%
Exhibit 9
Aug. 22, 2023 Item #7 Page 18 of 22
Mortgage backed securities (agency)Amortized cost Portfolio allocation*
FAMCA 3,631,971 0.42%
FHLMC 15,209,103 1.74%
FNMA 16,890,667 1.93%
Federal agencies Amortized cost Portfolio allocation**
Federal Agricultural Mortgage Corp.23,146,258 2.65%
Federal Farm Credit Bank 99,122,351 11.33%
Federal Home Loan Bank 121,542,045 13.90%
Federal Home Loan Mortgage Corp.46,991,402 5.37%
Federal National Mortgage Assoc.39,412,862 4.51%
Tennessee Valley Authority 1,030,854 0.12%
Municipal Bonds Amortized cost Portfolio allocation*
Ada/Canyon Cty SD 1,574,696 0.18%
Amarillo Independent SD 1,783,055 0.20%
Cache County SD 3,330,164 0.38%
City of San Francisco 1,001,623 0.11%
County of Multnomah 2,002,703 0.23%
Fremont CA SD 1,802,525 0.21%
Honolulu Wastewater 1,393,108 0.16%
LA Unified SD 3,730,400 0.43%
LA Dept of Water & Power 1,577,252 0.18%
Marion County SD 1,883,431 0.22%
Mason/Kitsap Cty SD 640,000 0.07%
Minnesota State 1,215,000 0.14%
Oregon State Dept of Transp 1,741,206 0.20%
Portland CC 1,101,847 0.13%
San Bernardino CC 1,341,987 0.15%
San Diego CC 3,130,017 0.36%
San Dieguito Union HS 500,000 0.06%
San Jose Evergreen CC 780,917 0.09%
San Jose Redevelpment 3,148,625 0.36%
Santa Barbara CA USD 507,473 0.06%
Southern CA Public Power 2,437,592 0.28%
State of California 13,230,335 1.51%
State of Connecticut 2,858,973 0.33%
State of Hawaii 7,944,503 0.91%
Texas Tech University 2,510,344 0.29%
University of California 6,272,826 0.72%
Aug. 22, 2023 Item #7 Page 19 of 22
Other Amortized cost Portfolio allocation
Supranational 19,569,872 2.24%
US Treasury 78,379,612 8.96%
Certificate of deposits 21,271,598 2.43%
Cash 160,775,983 18.38%
Total portfolio amortized cost 874,704,150$
* No more than 5% may be invested with a single issuer.
**There are no percentage limits on federal agency issuers.
Aug. 22, 2023 Item #7 Page 20 of 22
City of Carlsbad
Investments of bond reserve accounts
As of June 30, 2023
Market Maturity
Name and fund type Investments Yield date Par value
Reassessment District 22-01 (College/Cannon)
Reserve Fund Bank of New York Mellon various 09/02/34 908,529$
Reassessment District 2012-1 (College/Cannon & Poinsettia Lane)
Reserve fund Invesco Gov. & Agency - Institutional Money Market 4.23% N/A 12$
Communities Facilities District #3 Improvement Area 1, 2016 Bonds
Reserve fund Invesco Gov. & Agency - Institutional Money Market 4.73% 09/01/36 594,072$
Communities Facilities District #3 Improvement Area 2, 2016 Bonds
Reserve fund Invesco Gov. & Agency - Institutional Money Market 4.73% 09/01/38 866,819$
2,369,433$
Exhibit 10
Aug. 22, 2023 Item #7 Page 21 of 22
Af
f
o
r
d
a
b
l
e
H
o
u
s
i
n
g
L
o
a
n
S
u
m
m
a
r
y
4t
h
Q
t
r
.
F
Y
2
0
2
2
-
2
3
Fir
s
t
D
a
t
e
Bo
r
r
o
w
e
r
De
v
e
l
o
p
m
e
n
t
Pu
r
p
o
s
e
Fo
r
g
i
v
a
b
l
e
I
s
s
u
e
d
I
s
s
u
e
d
O
u
t
s
t
a
n
d
i
n
g
Is
s
u
e
d
R
e
p
a
i
d
B
a
l
a
n
c
e
In
d
i
v
i
d
u
a
l
h
o
m
e
b
u
y
e
r
s
Ca
l
a
v
e
r
a
H
i
l
l
s
Sa
l
e
N
10
/
1
5
/
1
9
9
9
5
1
75
,
0
0
0
60
,
0
0
0
15
,
0
0
0
In
d
i
v
i
d
u
a
l
h
o
m
e
b
u
y
e
r
s
Ch
e
r
r
y
T
r
e
e
W
a
l
k
Sa
l
e
s
N
6/
2
8
/
1
9
9
9
4
2
11
45
3
,
6
0
0
33
4
,
8
0
0
11
8
,
8
0
0
In
d
i
v
i
d
u
a
l
h
o
m
e
b
u
y
e
r
s
Se
r
r
a
n
o
Sa
l
e
s
N
5/
2
5
/
2
0
0
1
9
0
19
1,
3
5
0
,
0
0
0
1,
0
6
5
,
0
0
0
28
5
,
0
0
0
In
d
i
v
i
d
u
a
l
h
o
m
e
b
u
y
e
r
s
Ra
n
c
h
o
C
a
r
l
s
b
a
d
Sa
l
e
s
N
5/
2
0
/
1
9
9
9
2
2
4
75
2
,
5
3
3
69
1
,
0
7
6
61
,
4
5
7
In
d
i
v
i
d
u
a
l
h
o
m
e
b
u
y
e
r
s
Mu
l
b
e
r
r
y
a
t
B
r
e
s
s
i
R
a
n
c
h
S
a
l
e
s
N
4/
2
9
/
2
0
0
5
1
0
0
10
0
1,
8
4
0
,
0
0
0
-
1
,
8
4
0
,
0
0
0
In
d
i
v
i
d
u
a
l
h
o
m
e
b
u
y
e
r
s
Vi
l
l
a
g
e
b
y
t
h
e
S
e
a
Sa
l
e
s
N
10
/
2
8
/
2
0
0
5
1
1
11
22
0
,
0
0
0
-
2
2
0
,
0
0
0
In
d
i
v
i
d
u
a
l
h
o
m
e
b
u
y
e
r
s
La
g
u
n
a
P
o
i
n
t
Sa
l
e
N
7/
6
/
2
0
0
6
3
2
14
0
,
0
0
0
-
1
4
0
,
0
0
0
In
d
i
v
i
d
u
a
l
h
o
m
e
b
u
y
e
r
s
Th
e
B
l
u
f
f
s
Sa
l
e
N
6/
1
4
/
2
0
0
7
1
0
10
20
0
,
0
0
0
-
2
0
0
,
0
0
0
In
d
i
v
i
d
u
a
l
h
o
m
e
b
u
y
e
r
s
Ro
o
s
e
v
e
l
t
G
a
r
d
e
n
s
Sa
l
e
s
N
8/
3
0
/
2
0
0
7
1
1
11
$1
,
5
8
3
,
4
2
3
-
1
,
5
8
3
,
4
2
3
29
4
16
9
6,
6
1
4
,
5
5
6
2,
1
5
0
,
8
7
6
4,
4
6
3
,
6
8
0
No
t
-
f
o
r
-
P
r
o
f
i
t
s
Ca
t
h
o
l
i
c
C
h
a
r
i
t
i
e
s
Ho
m
e
l
e
s
s
S
h
e
l
t
e
r
Sh
e
l
t
e
r
Y
9/
1
9
/
1
9
9
7
1
1
20
0
,
0
0
0
-
2
0
0
,
0
0
0
Ca
t
h
o
l
i
c
C
h
a
r
i
t
i
e
s
a
l
l
o
w
a
n
c
e
(2
0
0
,
0
0
0
)
-
(
2
0
0
,
0
0
0
)
Ca
t
h
o
l
i
c
C
h
a
r
i
t
i
e
s
Sh
e
l
t
e
r
Sh
e
l
t
e
r
Y
3/
1
/
2
0
1
0
3
3
50
7
,
5
8
5
-
5
0
7
,
5
8
5
Ca
t
h
o
l
i
c
C
h
a
r
i
t
i
e
s
a
l
l
o
w
a
n
c
e
(5
0
7
,
5
8
5
)
-
(
5
0
7
,
5
8
5
)
Ho
s
p
i
c
e
o
f
N
o
r
t
h
C
o
a
s
t
Pr
o
p
e
r
t
y
a
c
q
u
i
s
i
t
i
o
n
H
o
s
p
i
c
e
Y
2/
2
7
/
2
0
1
3
1
1
1,
0
6
5
,
0
0
0
-
1
,
0
6
5
,
0
0
0
Ho
s
p
i
c
e
a
l
l
o
w
a
n
c
e
(1
,
0
6
5
,
0
0
0
)
-
(
1
,
0
6
5
,
0
0
0
)
5
5
-
-
-
De
v
e
l
o
p
e
r
s
-
R
e
n
t
a
l
s
Pa
c
i
f
i
c
V
i
s
t
a
L
a
s
F
l
o
r
e
s
Vi
s
t
a
L
a
s
F
l
o
r
e
s
A
p
t
s
R
e
n
t
a
l
s
N
2/
2
7
/
2
0
0
1
1
1
36
3
,
9
4
8
-
3
6
3
,
9
4
8
CI
C
C
a
l
a
v
e
r
a
L
P
Ma
r
i
p
o
s
a
A
p
t
s
Re
n
t
a
l
s
N
9/
1
5
/
2
0
0
1
1
1
1,
0
6
0
,
0
0
0
-
1
,
0
6
0
,
0
0
0
CI
C
L
a
C
o
s
t
a
L
P
Hu
n
t
e
r
'
s
P
o
i
n
t
e
Re
n
t
a
l
s
N
8/
1
9
/
2
0
0
8
1
1
1,
9
3
2
,
0
0
0
-
1
,
9
3
2
,
0
0
0
CI
C
G
l
e
n
R
i
d
g
e
L
P
Gle
n
R
i
d
g
e
Re
n
t
a
l
s
N
10
/
5
/
2
0
0
9
1
1
1,
0
1
4
,
0
0
0
-
1
,
0
1
4
,
0
0
0
So
l
u
t
i
o
n
s
f
o
r
C
h
a
n
g
e
-
V
i
s
t
a
T
e
r
r
a
c
e
Pr
o
p
e
r
t
y
a
c
q
u
i
s
i
t
i
o
n
R
e
n
t
a
l
s
N
6/
2
8
/
2
0
1
2
1
1
78
0
,
0
0
0
-
7
8
0
,
0
0
0
Ha
r
d
i
n
g
S
t
r
e
e
t
N
e
i
g
h
b
o
r
s
L
L
P
Pr
o
p
e
r
t
y
a
c
q
u
i
s
i
t
i
o
n
R
e
n
t
a
l
s
N
3/
1
4
/
2
0
1
3
1
1
7,
4
0
8
,
0
0
0
-
7
,
4
0
8
,
0
0
0
So
l
u
t
i
o
n
s
f
o
r
C
h
a
n
g
e
-
C
h
e
s
t
n
u
t
Pr
o
p
e
r
t
y
a
c
q
u
i
s
i
t
i
o
n
R
e
n
t
a
l
s
N
12
/
1
9
/
2
0
1
4
1
1
2,
6
4
6
,
0
0
0
-
2
,
6
4
6
,
0
0
0
Ch
e
l
s
e
a
I
n
v
e
s
t
m
e
n
t
C
o
r
p
.
/
Q
u
a
r
r
y
C
r
e
e
k
C
I
C
L
L
P
Qu
a
r
r
y
C
r
e
e
k
Re
n
t
a
l
s
N
8/
3
1
/
2
0
1
6
1
1
1,
2
8
0
,
0
0
0
68
9
,
4
7
8
59
0
,
5
2
2
Ca
r
l
s
b
a
d
V
e
t
e
r
a
n
H
o
u
s
i
n
g
L
P
Wi
n
d
s
o
r
P
o
i
n
t
e
Re
n
t
a
l
s
N
12
/
3
/
2
0
2
0
1
1
3,
7
9
3
,
3
9
2
-
3
,
7
9
3
,
3
9
2
Br
i
d
g
e
H
o
u
s
i
n
g
C
o
r
p
o
r
a
t
i
o
n
Av
i
a
r
a
E
a
s
t
Re
n
t
a
l
s
N
3/
1
/
2
0
2
3
1
1
2,
7
6
9
,
5
6
2
-
2
,
7
6
9
,
5
6
2
10
10
23
,
0
4
6
,
9
0
2
68
9
,
4
7
8
22
,
3
5
7
,
4
2
4
Ot
h
e
r
A
f
f
o
r
d
a
b
l
e
H
o
u
s
i
n
g
a
s
s
i
s
t
a
n
c
e
DP
C
C
A
Va
r
i
o
u
s
Pu
r
c
h
a
s
s
i
s
t
a
n
c
e
N
6/
2
5
/
2
0
0
9
2
2
15
25
5
,
5
1
8
82
,
7
5
0
17
2
,
7
6
8
In
d
i
v
i
d
u
a
l
h
o
m
e
b
u
y
e
r
s
Va
r
i
o
u
s
Min
o
r
h
o
m
e
r
e
p
a
i
r
Y
5/
2
0
/
2
0
1
0
1
3
7
30
,
5
2
2
-
3
0
,
5
2
2
Mi
n
o
r
H
o
m
e
R
e
p
a
i
r
a
l
l
o
w
a
n
c
e
(3
0
,
5
2
2
)
-
(
3
0
,
5
2
2
)
35
22
25
5
,
5
1
8
82
,
7
5
0
17
2
,
7
6
8
In
d
i
v
i
d
u
a
l
s
(
n
o
n
-
d
e
v
e
l
o
p
m
e
n
t
r
e
l
a
t
e
d
)
In
d
i
v
i
d
u
a
l
b
o
r
r
o
w
e
r
La
g
u
n
a
P
o
i
n
t
Sa
l
e
s
N
4/
1
7
/
2
0
1
3
1
1
10
8
,
1
5
0
-
1
0
8
,
1
5
0
In
d
i
v
i
d
u
a
l
b
o
r
r
o
w
e
r
Ro
s
e
B
a
y
Sa
l
e
s
N
8/
2
3
/
2
0
1
3
1
1
22
9
,
7
7
5
-
2
2
9
,
7
7
5
2
2
33
7
,
9
2
5
-
3
3
7
,
9
2
5
Pr
i
o
r
y
e
a
r
A
R
a
d
j
u
s
t
m
e
n
t
s
(1
3
5
)
(1
3
5
)
34
6
20
8
30
,
2
5
4
,
7
6
6
2,
9
2
3
,
1
0
4
27
,
3
3
1
,
6
6
2
Nu
m
b
e
r
o
f
L
o
a
n
s
Pr
i
nc
i
p
a
l
A
m
o
u
n
t
s
Exhibit 11
Aug. 22, 2023 Item #7 Page 22 of 22