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2023-10-17; City Council; ; Report on City Investments as of Aug. 31, 2023
CA Review JRT Meeting Date: To: From: Staff Contact: Subject: District: Oct. 17, 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 Aug. 31, 2023 All Recommended Action Accept and file Report on City Investments as of Aug. 31, 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. Explanation and Fiscal Analysis The city’s pooled investment portfolio as of the month ending Aug. 31, 2023, is summarized below: Pooled investment portfolio (cash and securities) Current month Prior month Par value1 $862,758,107 $858,905,852 Investment cost $868,011,715 $864,719,920 Amortized cost2 $862,076,655 $858,945,684 Market value3 $820,924,344 $816,237,410 (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). Oct. 17, 2023 Item #1 Page 1 of 19 Pooled investment interest income Fiscal year to date Current month Prior month Cash income $3,220,500 $1,631,044 $1,589,456 The cash income received is adjusted for any received interest previously purchased. Pooled investment performance Average life (years) Yield4 Modified duration June 2023 1.73 2.22% 1.55 July 2023 1.74 2.23% 1.56 August 2023 1.71 2.39% 1.52 (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 three 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. Capital projects $399 Enterprise $205 General$148 Internal service $59 Special revenue $34 Fiduciary $9 Fund equity in pooled investments August 31, 2023 ($ in millions) Oct. 17, 2023 Item #1 Page 2 of 19 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. 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 Oct. 17, 2023 Item #1 Page 3 of 19 Exhibit 1 Investment cost Market value Average yield Class Current month Prior month Current month Prior month YTD income Current month Prior month Federal Agency $ 326,351,227 $ 333,892,082 $ 304,913,604 $ 311,540,257 $ 447,419 1.39% 1.38% Supranational Securities 21,303,332 21,303,332 19,701,078 19,654,444 20,800 1.44% 1.44% US Treasury 70,777,750 74,206,495 68,185,328 71,483,153 123,778 1.81% 1.80% Corporate Notes 155,557,944 157,557,944 142,933,058 144,741,834 779,868 1.86% 1.88% Certificate of Deposit 21,016,877 21,262,877 19,605,388 19,825,022 51,361 1.81% 1.82% Mortgage Passthrough Securities 41,236,146 38,150,940 39,068,314 35,962,555 146,151 2.81% 2.62% Municipal Bonds 75,022,370 70,242,657 69,771,506 64,926,551 323,947 2.38% 1.83% General cash account 2,606,119 2,488,161 2,606,119 2,488,161 - 0.10% 0.10% Sweep Account 10,637,500 4,137,369 10,637,500 4,137,369 64,410 5.20% 5.16% Investment cash account 474,398 5,060,771 474,398 5,060,771 19,623 0.10% 0.10% California Asset Management Program 141,235,235 134,624,477 141,235,235 134,624,477 1,229,178 5.52% 5.31% Local Area Investment Fund 1,792,816 1,792,816 1,792,816 1,792,816 13,966 3.43% 3.39% Total 868,011,715$ 864,719,920$ 820,924,344$ 816,237,410$ 3,220,500$ 2.39% 2.23% City of Carlsbad investment portfolio Investments by cost, market value, cash income, and average yield by class August 31, 2023 Oct. 17, 2023 Item #1 Page 4 of 19 Exhibit 2 Class Within 6 months 7 to 12 months 1 to 5 years Total % Total Federal Agency 35,730,688.50$ 28,216,452.60$ 240,966,463.08$ 304,913,604.18$ 37.14% Supranational Securities 4,990,100.00 1,925,600.00 12,785,377.80 19,701,077.80 2.40% US Treasury 16,743,530.00 14,802,812.50 36,638,985.00 68,185,327.50 8.31% Corporate Notes 18,564,582.40 33,130,310.00 91,238,165.69 142,933,058.09 17.41% (2) Certificate of Deposit 1,465,665.95 1,207,380.05 16,932,342.40 19,605,388.40 2.39% Mortgage Passthrough Securities - 2,903,196.33 36,165,117.38 39,068,313.71 4.76% (3) Municipal Bonds - 4,678,605.00 65,092,900.85 69,771,505.85 8.50% (5) General cash account 2,606,119.00 - - 2,606,119.00 0.32% Sweep Account 10,637,500.25 - - 10,637,500.25 1.30% Investment cash account 474,398.00 - - 474,398.00 0.06% California Asset Management Program 141,235,234.95 - - 141,235,234.95 17.20% Local Area Investment Fund 1,792,815.95 - - 1,792,815.95 0.22% Totals 234,240,635.00$ 86,864,356.48$ 499,819,352.20$ 820,924,343.68$ 100.0% % Totals 28.5%10.6%60.9%100.0% Total within one year $321,104,991 (1) Percentage of the budget within one year 86.4% Policy (1) Not less than $247,900,000 to mature within one year, two-thirds of FY 23-24 operating budget of $371,850,000. (2) Policy states that not more than 30% of portfolio is to be invested in corporate notes at time of purchase. (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. (5) Policy states that not more than 15% of portfolio is to be invested in municipal bonds at time of purchase. City of Carlsbad investment portfolio Maturities by classification and length of time at market value August 31, 2023 Oct. 17, 2023 Item #1 Page 5 of 19 Exhibit 3 0.00 1.00 2.00 3.00 4.00 5.00 6.00 Se p No v 20 2 1 J a n Ma r Ma y Ju l Se p No v 20 2 2 J a n Ma r Ma y Ju l Se p No v 20 2 3 J a n Ma r Ma y Ju l Yi e l d ( % ) City of Carlsbad investment portfolio Yield comparison: portfolio ex PIMA vs CAMP vs LAIF Three year comparison 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 FY 2022-23 end 5.43 4.87 4.13 3.81 August 31, 2023 5.56 4.85 4.23 4.09 Ma r k e t r a t e ( % ) City of Carlsbad investment portfolio Market yield curve Fiscal year ends compared to current Oct. 17, 2023 Item #1 Page 6 of 19 Exhibit 4 $- $200,000.00 $400,000.00 $600,000.00 $800,000.00 $1,000,000.00 $1,200,000.00 $1,400,000.00 $1,600,000.00 $1,800,000.00 $2,000,000.00 In t e r e s t I n c o m e City of Carlsbad investment portfolio Cash income by month 13-month comparison $- $2,000,000.00 $4,000,000.00 $6,000,000.00 $8,000,000.00 $10,000,000.00 $12,000,000.00 $14,000,000.00 $16,000,000.00 $18,000,000.00 In t e r e s t I n c o m e City of Carlsbad investment portfolio Cumulative cash income 13-month comparison Oct. 17, 2023 Item #1 Page 7 of 19 Exhibit 5 Maturities CUSIP Issuer Settled Maturity Par value Book value Interest Total 31398E6W9 FHLMC FHR 3544 08/27/20 07/17/23 13,181.83 13,812.09 352.36 14,164.45 90331HNV1 USBANK 07/25/18 07/24/23 1,250,000.00 1,251,625.00 21,250.00 1,272,875.00 90331HNV1 USBANK 12/11/18 07/24/23 2,500,000.00 2,489,250.00 42,500.00 2,531,750.00 90331HNV1 USBANK 01/24/19 07/24/23 1,000,000.00 1,010,000.00 17,000.00 1,027,000.00 90331HNV1 USBANK 02/28/19 07/24/23 1,800,000.00 1,835,100.00 30,600.00 1,865,700.00 3137F32A1 FHLMC FHMS 04/15/20 07/25/23 88,537.44 94,901.07 4,153.61 99,054.68 30315EAA4 FRESB 07/24/20 07/25/23 1,416.70 1,423.63 619.02 2,042.65 30318NAA1 FRESB 02/19/21 07/25/23 2,295.86 2,306.64 676.09 2,982.73 3137FBTA4 FHLMC FHMS 03/10/21 07/25/23 4,410.39 4,757.19 7,400.12 12,157.31 30321CAQ5 FRESB 07/23/21 07/25/23 3,035.16 3,049.41 1,310.06 4,359.47 3137BP4J5 FHLMC 08/20/21 07/25/23 43,669.46 45,736.94 3,040.05 48,776.99 30324QAC2 FRESB 01/21/22 07/25/23 7,413.48 7,447.77 5,815.13 13,262.90 30311SAA7 FRESB 04/22/22 07/25/23 5,150.99 4,946.85 5,042.99 9,989.84 3137BM7B6 FHLMC FHMS 06/30/22 07/25/23 94,671.18 93,931.56 6,790.67 100,722.23 3137BL6J2 FHLMC FHMC 07/22/22 07/25/23 73,907.00 73,167.93 2,609.89 75,777.82 30329MAA0 FRESB 10/28/22 07/25/23 2,219.56 1,988.47 2,765.42 4,753.89 30329QAA1 FAMCA 11/18/22 07/25/23 3,486.93 3,183.00 8,620.66 11,803.66 3138L7D60 FNMA 12/19/22 07/25/23 2,469.21 2,390.50 2,853.31 5,243.81 06426KAN8 BK NEN 07/31/18 07/31/23 249,000.00 249,000.00 665.14 249,665.14 58404DCM1 MEDALL 07/31/18 07/31/23 249,000.00 249,000.00 665.14 249,665.14 91282CCN9 USTR 01/20/22 07/31/23 2,000,000.00 1,977,812.50 1,250.00 1,979,062.50 91282CCN9 USTR 04/12/22 07/31/23 3,000,000.00 2,925,937.50 1,875.00 2,927,812.50 797508HV3 SDTSCD 06/09/21 08/01/23 500,000.00 500,000.00 687.50 500,687.50 3135G05R0 FNMA 08/13/20 08/10/23 2,000,000.00 2,000,000.00 3,000.00 2,003,000.00 3133EKZK5 FFCB 09/13/19 08/14/23 1,800,000.00 1,800,000.00 14,400.00 1,814,400.00 32100LBY0 FMST 02/13/19 08/14/23 246,000.00 246,000.00 3,495.90 249,495.90 31398E6W9 FHLMC FHR 3544 08/27/20 08/15/23 14,502.10 15,195.48 308.42 15,503.90 78014RFS4 RYBK 08/15/22 08/17/23 2,000,000.00 2,000,000.00 17,750.00 2,017,750.00 3135G05U3 FNMA 12/15/21 08/18/23 1,250,000.00 1,250,000.00 2,187.50 1,252,187.50 3137F32A1 FHLMC FHMS 04/15/20 08/25/23 83,159.40 89,136.48 3,907.11 93,043.59 30315EAA4 FRESB 07/24/20 08/25/23 1,340.00 1,346.55 618.04 1,964.59 30318NAA1 FRESB 02/19/21 08/25/23 2,191.27 2,201.56 674.89 2,876.45 3137FBTA4 FHLMC FHMS 03/10/21 08/25/23 4,144.47 4,470.36 7,388.86 11,859.22 30321CAQ5 FRESB 07/23/21 08/25/23 2,877.09 2,890.60 1,307.84 4,198.44 3137BP4J5 FHLMC 08/20/21 08/25/23 41,375.25 43,334.11 2,951.03 46,285.14 30324QAC2 FRESB 01/21/22 08/25/23 7,050.56 7,083.17 5,804.99 12,888.16 30311SAA7 FRESB 04/22/22 08/25/23 4,888.17 4,694.44 5,035.35 9,729.79 3137BM7B6 FHLMC FHMS 06/30/22 08/25/23 88,954.00 88,295.05 6,562.89 94,857.94 3137BL6J2 FHLMC FHMC 07/22/22 08/25/23 70,014.45 69,314.31 2,444.28 71,758.59 30329MAA0 FRESB 10/28/22 08/25/23 2,079.68 1,863.16 2,761.58 4,624.74 30329QAA1 FAMCA 11/18/22 08/25/23 3,802.34 3,470.92 8,613.11 12,084.03 3138L7D60 FNMA 12/19/22 08/25/23 2,477.59 2,398.62 2,846.21 5,244.83 30332EAA3 FRESB 07/20/23 08/25/23 363.18 355.28 10,225.00 10,580.28 3130APV85 FHLB 11/30/21 08/25/23 2,500,000.00 2,500,000.00 6,250.00 2,506,250.00 91282CCU3 US Treasury 01/21/22 08/31/23 2,000,000.00 2,000,000.00 1,250.00 2,001,250.00 91282CCU3 US Treasury 06/23/22 08/31/23 1,500,000.00 1,500,000.00 937.50 1,500,937.50 26,519,084.74 26,472,818.14 279,262.66 26,752,080.80 Calls CUSIP Issuer Settled Maturity Redeemed Par value Book value Total No calls this quarter - - - City of Carlsbad investment portfolio Maturities, calls, and purchases this quarter August 31, 2023 Oct. 17, 2023 Item #1 Page 8 of 19 City of Carlsbad investment portfolio Maturities, calls, and purchases this quarter August 31, 2023Purchases CUSIP Issuer Settled Maturity First Coupon Yield Par value Dollar price Book value 3130AVZQ8 FHLB 07/07/23 05/17/28 11/17/23 5.150194%1,880,000.00 99.53 1,871,070.00 910286GS6 United Fidelity Bank 07/14/23 07/14/27 08/14/23 4.600000%249,000.00 100.00 249,000.00 9128284N7 US Treasury 07/17/23 05/15/28 11/15/23 3.952000%1,000,000.00 95.31 953,056.42 501798UJ9 LCA Bank Corporation 07/18/23 07/18/28 01/18/24 4.500000%243,000.00 100.00 243,000.00 30332EAA3 FRESB 07/20/23 05/25/28 08/25/23 4.633100%3,000,000.00 97.83 2,934,777.00 64952WEQ2 New York Life Global 07/20/23 04/07/27 10/07/23 4.610201%2,000,000.00 95.40 1,908,020.00 45906M4E8 IBRD 07/31/23 06/26/28 12/26/23 4.683580%1,250,000.00 99.20 1,240,000.00 072031AP2 Bay Area Water 08/01/23 10/01/27 10/01/23 4.742000%1,250,000.00 94.85 1,185,562.50 798170AL0 San Jose Redev 08/09/23 08/01/28 12/01/23 4.750000%1,000,000.00 92.87 928,700.00 30333AAA0 FRESB 08/17/23 06/25/28 09/25/23 4.793300%3,500,000.00 97.84 3,424,568.00 68609TU22 Oregon State 08/22/23 08/01/27 02/01/24 4.740000%1,585,000.00 87.95 1,394,070.90 7994082H1 San Ramon Valley USD 08/24/23 08/01/28 02/01/24 4.850000%1,000,000.00 86.19 861,870.00 212204JH5 Contra Costa CCD 08/31/23 08/01/27 02/01/24 4.720000%1,000,000.00 90.95 909,510.00 18,957,000.00 95.22 18,103,204.82 Oct. 17, 2023 Item #1 Page 9 of 19 Exhibit 6 CUSIP Settlement Maturity Issuer Par Invested Yield Weighted average Interest expected Return 3133EJYL7 09/18/18 09/05/23 FFCB 1,000,000.00 991,290.00 2.990%0.0000908 138,988.89 1,138,988.89 3133EJYL7 10/10/18 09/05/23 FFCB 2,300,000.00 2,266,190.00 3.125%0.0002170 315,738.89 2,615,738.89 3130A3DL5 09/03/19 09/08/23 FHLB 2,000,000.00 2,069,108.00 1.485%0.0000942 190,659.72 2,190,659.72 3135G0U43 02/27/19 09/12/23 FNMA 1,000,000.00 1,016,210.00 2.495%0.0000777 130,572.92 1,130,572.92 3135G0U43 04/16/19 09/12/23 FNMA 1,750,000.00 1,783,757.50 2.410%0.0001317 221,375.00 1,971,375.00 3130ASLE7 06/30/22 09/29/23 FHLB 1,500,000.00 1,500,000.00 3.200%0.0001471 59,866.67 1,559,866.67 3133EJD48 10/17/18 10/02/23 FFCB 2,500,000.00 2,493,150.00 3.050%0.0002330 378,072.92 2,878,072.92 3133EJQA0 02/07/19 10/23/23 FFCB 1,000,000.00 1,017,530.00 2.602%0.0000811 141,333.33 1,141,333.33 3133EKKU9 05/09/19 11/08/23 FFCB 2,000,000.00 2,001,700.00 2.280%0.0001398 206,872.22 2,206,872.22 3134GXCA0 11/24/20 11/24/23 FHLMC 2,500,000.00 2,500,000.00 0.320%0.0000245 24,000.00 2,524,000.00 3133EMHL9 11/30/20 11/30/23 FFCB 3,000,000.00 3,000,000.00 0.310%0.0000285 26,917.50 3,027,900.00 3137EAFA2 03/19/21 12/04/23 FHLMC 2,000,000.00 1,998,100.00 0.250%0.0000153 13,541.67 2,013,541.67 31331KZ78 06/28/19 12/05/23 FFCB 1,500,000.00 1,569,280.50 1.870%0.0000899 196,963.33 1,696,963.33 3133EMJQ6 12/09/20 12/08/23 FFCB 2,500,000.00 2,500,000.00 0.280%0.0000214 20,980.56 2,520,980.56 3130A0F70 05/13/20 12/08/23 FHLB 1,000,000.00 1,107,630.00 0.339%0.0000115 120,468.75 1,120,468.75 3133EDBU5 05/09/19 12/20/23 FFCB 1,000,000.00 1,052,900.00 3.500%0.0001129 161,486.11 1,161,486.11 3130AQD26 12/29/21 12/29/23 FHLB 2,000,000.00 2,000,000.00 0.720%0.0000441 28,800.00 2,028,800.00 3133EKBW5 03/06/19 02/27/24 FFCB 1,500,000.00 1,498,950.00 2.610%0.0001199 194,771.25 1,694,771.25 3130APZV0 11/30/21 02/28/24 FHLB 1,500,000.00 1,500,000.00 0.770%0.0000354 25,922.80 1,525,922.80 3133ELNJ9 02/28/20 02/28/24 FFCB 2,500,000.00 2,500,000.00 1.550%0.0001187 155,000.00 2,655,000.00 3130A0XE5 03/08/19 03/08/24 FHLB 3,000,000.00 3,100,851.00 2.530%0.0002404 487,500.00 3,487,500.00 3133EKGD2 04/09/19 04/05/24 FFCB 2,000,000.00 1,994,380.00 2.360%0.0001442 229,105.56 2,229,105.56 3133EMXB3 04/23/21 04/22/24 FFCB 2,000,000.00 2,000,000.00 0.340%0.0000208 20,381.11 2,020,381.11 3134GWZT6 04/05/21 04/23/24 FHLMC 1,000,000.00 997,570.00 0.400%0.0000122 9,760.00 1,009,760.00 3130AGEF8 05/09/19 05/07/24 FHLB 1,000,000.00 1,005,320.00 2.287%0.0000705 119,866.67 1,119,866.67 3135GA5Y3 11/29/21 06/14/24 FNMA 2,000,000.00 1,976,200.00 0.849%0.0000514 19,062.50 2,019,062.50 3133EKEC6 08/28/19 06/25/24 FFCB 1,183,000.00 1,237,524.47 1.457%0.0000552 139,845.39 1,322,845.39 3133EKNX0 08/28/19 06/30/24 FFCB 1,470,000.00 1,517,378.10 1.457%0.0000677 151,263.00 1,621,263.00 3133ELQ56 03/21/22 07/02/24 FFCB 2,005,000.00 1,942,243.50 1.980%0.0001179 26,063.33 2,031,063.33 3130AP7D1 12/10/21 07/19/24 FHLB 2,000,000.00 1,978,000.00 0.878%0.0000532 23,475.00 2,023,475.00 3133ELX66 07/24/20 07/22/24 FFCB 2,000,000.00 2,000,000.00 0.440%0.0000270 35,151.11 2,035,151.11 3133EKWV4 08/08/19 07/26/24 FFCB 2,500,000.00 2,532,125.00 1.582%0.0001227 229,708.33 2,729,708.33 3134GW4X1 10/29/20 07/29/24 FHLMC 3,000,000.00 3,000,000.00 0.375%0.0000345 42,187.50 3,042,187.50 3130AGWK7 11/10/20 08/15/24 FHLB 4,000,000.00 4,191,800.00 1.500%0.0001927 255,833.33 4,255,833.33 3133EKQA7 08/30/19 09/10/24 FFCB 2,500,000.00 2,572,420.00 1.480%0.0001167 261,444.44 2,761,444.44 880591ER9 02/19/21 09/15/24 TVA 1,000,000.00 1,091,424.00 0.300%0.0000100 102,701.39 1,102,701.39 3134GWVM5 11/06/20 09/30/24 FHLMC 1,170,000.00 1,170,000.00 0.350%0.0000125 15,970.50 1,185,970.50 3130ALRK2 03/30/21 09/30/24 FHLB 1,500,000.00 1,500,000.00 0.520%0.0000239 27,300.00 1,527,300.00 3134GWVM5 10/22/20 09/30/24 FHLMC 3,000,000.00 3,000,000.00 0.350%0.0000322 41,358.33 3,041,358.33 31422XMV1 10/04/21 10/04/24 FAMCA 2,000,000.00 2,000,000.00 0.500%0.0000306 30,000.00 2,030,000.00 3133EK3B0 11/25/20 10/16/24 FFCB 1,400,000.00 1,466,052.00 0.280%0.0000126 81,725.00 1,481,725.00 31422BPG9 11/15/19 11/01/24 FAMCA 2,000,000.00 1,999,720.00 1.793%0.0001099 177,607.78 2,177,607.78 3133EC2D5 07/10/20 11/13/24 FFCB 1,621,000.00 1,751,360.82 0.390%0.0000209 159,055.22 1,780,055.22 3135G06E8 11/18/20 11/18/24 FNMA 2,000,000.00 2,000,000.00 0.420%0.0000257 33,600.00 2,033,600.00 3130APVZ5 12/02/21 12/02/24 FHLB 1,900,000.00 1,900,000.00 1.050%0.0000611 59,850.00 1,959,850.00 3130AQ5L3 12/16/21 12/16/24 FHLB 2,000,000.00 2,000,000.00 0.500%0.0000306 70,000.00 2,070,000.00 3134GXYX6 07/07/22 12/30/24 FHLMC 2,500,000.00 2,500,000.00 3.348%0.0002565 207,746.53 2,707,746.53 3130AKLQ7 12/30/20 12/30/24 FHLB 4,000,000.00 4,000,000.00 0.310%0.0000380 49,600.00 4,049,600.00 3130AJSF7 05/27/21 01/08/25 FHLB 2,000,000.00 2,000,000.00 0.648%0.0000397 46,980.56 2,046,980.56 3130ASLP2 07/21/22 01/21/25 FHLB 2,000,000.00 2,000,000.00 3.500%0.0002145 175,000.00 2,175,000.00 3130AN7L8 07/28/21 01/28/25 FHLB 1,750,000.00 1,750,000.00 0.520%0.0000279 31,850.00 1,781,850.00 3133EMPV8 02/03/21 02/03/25 FFCB 2,000,000.00 2,000,000.00 0.320%0.0000196 25,600.00 2,025,600.00 3130A4CH3 02/18/21 03/14/25 FHLB 1,500,000.00 1,620,240.00 0.389%0.0000193 145,072.92 1,645,072.92 3130A4CH3 04/09/20 03/14/25 FHLB 3,000,000.00 3,231,300.00 0.778%0.0000770 351,302.08 3,351,302.08 3134GWP26 06/07/21 03/28/25 FHLMC 1,000,000.00 998,500.00 0.540%0.0000165 19,041.67 1,019,041.67 3130AMRJ3 06/28/21 03/28/25 FHLB 3,120,000.00 3,122,340.00 0.500%0.0000478 70,200.00 3,190,200.00 3133EMWH1 04/21/21 04/21/25 FFCB 1,500,000.00 1,500,000.00 0.710%0.0000326 42,600.00 1,542,600.00 3130APA39 09/30/22 04/21/25 FHLB 1,055,000.00 963,215.00 4.287%0.0001265 17,813.67 1,072,813.67 3135GAA43 12/23/20 04/23/25 FNMA 3,000,000.00 3,000,000.00 0.500%0.0000460 65,000.00 3,065,000.00 3134GWYW0 10/30/20 04/30/25 FHLMC 2,000,000.00 2,000,000.00 0.500%0.0000306 45,111.12 2,045,111.12 3133ELC28 06/03/20 05/27/25 FFCB 3,500,000.00 3,499,300.00 0.734%0.0000787 127,324.17 3,627,324.17 3134GVB31 06/03/20 05/28/25 FHLMC 2,000,000.00 2,000,000.00 0.750%0.0000460 74,791.66 2,074,791.66 3135GA5S6 12/16/20 06/16/25 FNMA 2,000,000.00 2,000,000.00 0.450%0.0000276 40,500.00 2,040,500.00 3135G04Z3 01/11/21 06/17/25 FNMA 3,000,000.00 3,014,640.00 0.389%0.0000359 66,500.00 3,066,500.00 3135G04Z3 05/20/21 06/17/25 FNMA 2,000,000.00 1,991,940.00 0.600%0.0000366 40,750.00 2,040,750.00 3136G4XZ1 07/01/20 06/30/25 FNMA 2,500,000.00 2,500,000.00 0.740%0.0000567 92,448.61 2,592,448.61 3133EMMP4 01/15/21 07/14/25 FFCB 2,225,000.00 2,218,325.00 0.457%0.0000311 39,024.65 2,264,024.65 3137EAEU9 09/14/20 07/21/25 FHLMC 1,500,000.00 1,499,625.00 0.380%0.0000175 27,296.87 1,527,296.87 3133ELZ80 07/29/20 07/29/25 FFCB 3,000,000.00 3,000,000.00 0.580%0.0000533 87,000.00 3,087,000.00 3133EMFC1 10/29/20 07/29/25 FFCB 3,000,000.00 3,000,000.00 0.530%0.0000487 75,525.00 3,075,525.00 3134GWXM3 10/01/20 07/30/25 FHLMC 2,000,000.00 2,000,000.00 0.510%0.0000313 49,271.67 2,049,271.67 3133EL3P7 08/12/20 08/12/25 FFCB 3,500,000.00 3,500,000.00 0.530%0.0000568 92,750.00 3,592,750.00 3136G4C43 08/14/20 08/14/25 FNMA 2,000,000.00 2,000,000.00 0.650%0.0000398 65,000.00 2,065,000.00 3136G4H71 11/06/20 08/18/25 FNMA 2,000,000.00 1,999,000.00 0.500%0.0000306 47,833.33 2,047,833.33 3136G4K77 08/21/20 08/21/25 FNMA 2,000,000.00 2,000,000.00 0.450%0.0000276 45,000.00 2,045,000.00 3134GWMN3 08/27/20 08/27/25 FHLMC 2,500,000.00 2,500,000.00 0.520%0.0000398 58,500.00 2,558,500.00 3136G4X24 08/31/20 08/29/25 FNMA 3,000,000.00 3,000,000.00 0.600%0.0000552 89,900.00 3,089,900.00 3137EAEX3 12/28/20 09/23/25 FHLMC 3,000,000.00 2,996,460.00 0.400%0.0000367 53,281.25 3,053,281.25 3137EAEX3 10/22/20 09/23/25 FHLMC 4,000,000.00 3,989,280.00 0.430%0.0000526 73,791.67 4,073,791.67 3133EMCP5 10/14/20 10/14/25 FFCB 1,500,000.00 1,500,000.00 0.520%0.0000239 39,000.00 1,539,000.00 3132X0CK5 11/01/22 10/14/25 FAMCA 1,650,000.00 1,645,264.50 2.153%0.0001086 184,415.59 1,834,415.59 3134GWXX9 10/15/20 10/15/25 FHLMC 3,000,000.00 3,000,000.00 0.550%0.0000506 82,500.00 3,082,500.00 3135G06A6 12/11/20 10/20/25 FNMA 2,410,000.00 2,408,795.00 0.590%0.0000436 67,909.78 2,477,909.78 3133EMDZ2 12/09/20 10/21/25 FFCB 3,000,000.00 2,994,300.00 0.560%0.0000513 75,920.00 3,075,920.00 3133EMFR8 11/03/20 11/03/25 FFCB 4,500,000.00 4,500,000.00 0.540%0.0000745 121,500.00 4,621,500.00 3135G06G3 12/29/20 11/07/25 FNMA 3,000,000.00 3,012,960.00 0.410%0.0000379 72,833.34 3,072,833.34 3130ALFF6 03/10/21 12/10/25 FHLB 1,750,000.00 1,750,000.00 0.650%0.0000349 54,031.25 1,804,031.25 31422XAT9 03/02/21 12/15/25 FAMCA 3,000,000.00 3,000,000.00 0.520%0.0000478 74,663.33 3,074,663.33 City of Carlsbad investment portfolio Investment detail August 31, 2023 Federal investments Oct. 17, 2023 Item #1 Page 10 of 19 City of Carlsbad investment portfolio Investment detail August 31, 2023 3134GXFV1 12/17/20 12/17/25 FHLMC 5,000,000.00 5,000,000.00 0.625%0.0000958 156,250.00 5,156,250.00 3134GXHD9 03/24/21 12/23/25 FHLMC 1,500,000.00 1,489,500.00 0.700%0.0000319 49,845.83 1,549,845.83 3135G06Q1 12/30/20 12/30/25 FNMA 2,500,000.00 2,504,125.00 0.474%0.0000364 80,000.00 2,580,000.00 3130AKMZ6 01/14/21 01/14/26 FHLB 4,000,000.00 4,000,000.00 0.510%0.0000625 102,000.00 4,102,000.00 3130AKMZ6 01/14/21 01/14/26 FHLB 1,750,000.00 1,747,375.00 0.540%0.0000289 44,625.00 1,794,625.00 31422B6K1 01/25/21 01/15/26 FAMCA 1,500,000.00 1,500,000.00 0.480%0.0000221 35,800.00 1,535,800.00 3130AKN69 01/28/21 01/28/26 FHLB 3,000,000.00 3,000,000.00 0.500%0.0000460 75,000.00 3,075,000.00 3130AKRF5 02/09/21 02/09/26 FHLB 2,050,000.00 2,050,000.00 0.350%0.0000220 14,575.00 2,064,575.00 3130AKVR4 02/12/21 02/12/26 FHLB 2,000,000.00 2,000,000.00 0.550%0.0000337 55,000.00 2,055,000.00 3130AKVV5 02/18/21 02/18/26 FHLB 4,000,000.00 4,000,000.00 0.500%0.0000613 100,000.00 4,100,000.00 3133EMSH6 03/03/21 03/03/26 FFCB 674,000.00 674,000.00 0.790%0.0000163 26,623.00 700,623.00 3133EMSU7 03/09/21 03/09/26 FFCB 3,500,000.00 3,500,000.00 0.800%0.0000858 140,000.00 3,640,000.00 3130ALH56 03/18/21 03/18/26 FHLB 3,000,000.00 2,997,000.00 0.750%0.0000689 112,500.00 3,112,500.00 3130ALUQ5 03/30/21 03/30/26 FHLB 1,500,000.00 1,500,000.00 0.300%0.0000138 22,500.00 1,522,500.00 31422XCX8 04/20/21 04/20/26 FAMCA 2,000,000.00 2,000,000.00 1.000%0.0000613 100,000.00 2,100,000.00 3130ALVB7 04/21/21 04/21/26 FHLB 2,000,000.00 1,998,500.00 0.915%0.0000561 90,000.00 2,090,000.00 3130AM4L3 04/29/21 04/29/26 FHLB 4,000,000.00 4,000,000.00 0.500%0.0000613 100,000.00 4,100,000.00 31422XFP2 05/04/21 05/04/26 FAMCA 2,500,000.00 2,500,000.00 0.950%0.0000728 118,750.00 2,618,750.00 3130AMCL4 09/30/22 05/19/26 FHLB 1,100,000.00 979,726.00 4.300%0.0001291 40,797.17 1,140,797.17 3130AMHN5 05/26/21 05/26/26 FHLB 2,500,000.00 2,500,000.00 0.500%0.0000383 112,500.00 2,612,500.00 31422XGL0 05/27/21 05/27/26 FAMCA 2,000,000.00 2,000,000.00 0.920%0.0000564 92,000.00 2,092,000.00 3130AMQK1 06/16/21 06/16/26 FHLB 2,000,000.00 2,000,000.00 0.500%0.0000306 94,000.00 2,094,000.00 3130AMQK1 06/16/21 06/16/26 FHLB 2,500,000.00 2,500,000.00 0.500%0.0000383 117,500.00 2,617,500.00 3133EML67 06/22/21 06/22/26 FFCB 2,000,000.00 1,993,160.00 0.870%0.0000531 80,000.00 2,080,000.00 3130AMTW2 06/30/21 06/30/26 FHLB 4,500,000.00 4,500,000.00 0.500%0.0000689 186,750.00 4,686,750.00 3130AMWN8 06/30/21 06/30/26 FHLB 2,000,000.00 2,000,000.00 0.550%0.0000337 88,000.00 2,088,000.00 3130ANCH1 07/27/21 07/27/26 FHLB 2,500,000.00 2,500,000.00 1.000%0.0000766 125,000.00 2,625,000.00 3130ANL57 08/25/21 08/25/26 FHLB 3,500,000.00 3,494,750.00 0.906%0.0000970 153,125.00 3,653,125.00 31422XLY6 09/01/21 09/01/26 FAMCA 4,000,000.00 4,000,000.00 0.900%0.0001103 180,000.00 4,180,000.00 3133EM3T7 09/07/21 09/01/26 FFCB 3,000,000.00 2,997,750.00 0.885%0.0000813 130,065.00 3,130,065.00 31422XNB4 09/30/21 09/30/26 FAMCA 2,500,000.00 2,500,000.00 0.860%0.0000659 107,798.60 2,607,798.60 3133ENAF7 12/27/21 10/07/26 FFCB 2,500,000.00 2,469,000.00 1.268%0.0000959 119,444.44 2,619,444.44 3133ENT26 10/19/22 10/19/26 FFCB 3,000,000.00 3,000,000.00 5.300%0.0004872 636,000.00 3,636,000.00 3134GW6C5 02/15/22 10/28/26 FHLMC 4,500,000.00 4,266,900.00 1.958%0.0002560 169,300.00 4,669,300.00 48128G6F2 02/25/22 10/28/26 FHLB 3,500,000.00 3,378,200.00 1.979%0.0002049 197,283.33 3,697,283.33 3133ENFP0 12/09/21 11/30/26 FFCB 2,950,000.00 2,952,950.00 1.408%0.0001274 167,958.25 3,117,958.25 3130AQF65 01/14/22 12/21/26 FHLB 1,550,000.00 1,532,857.00 1.483%0.0000697 95,637.15 1,645,637.15 3130AQMX8 02/07/22 01/26/27 FHLB 1,250,000.00 1,245,000.00 1.331%0.0000508 112,070.31 1,362,070.31 3130AQLD3 03/29/22 01/28/27 FHLB 2,500,000.00 2,384,750.00 2.776%0.0002029 211,336.81 2,711,336.81 3130ARAB7 06/24/22 03/25/27 FHLB 2,000,000.00 1,941,720.00 3.420%0.0002035 260,791.67 2,260,791.67 3130ARL58 06/10/22 04/26/27 FHLB 4,000,000.00 3,982,764.44 3.198%0.0003903 589,235.56 4,589,235.56 3133EPJP1 05/12/23 05/12/27 FFCB 2,000,000.00 1,999,260.00 3.620%0.0002218 290,000.00 2,290,000.00 3130ASCT4 06/28/22 06/28/27 FHLB 2,500,000.00 2,500,000.00 3.250%0.0002490 406,250.00 2,906,250.00 3130ASF46 06/30/22 06/30/27 FHLB 2,500,000.00 2,500,000.00 3.500%0.0002681 437,500.00 2,937,500.00 3133ENL99 09/30/22 09/15/27 FFCB 2,500,000.00 2,432,200.00 3.983%0.0002968 418,359.37 2,918,359.37 3130AW6F2 05/22/23 11/22/27 FHLB 1,500,000.00 1,500,000.00 5.000%0.0004821 337,500.00 1,837,500.00 3133EN3S7 12/07/22 12/07/27 FFCB 3,000,000.00 2,995,920.00 3.780%0.0003470 562,500.00 3,562,500.00 3130AUQA5 02/02/23 02/02/28 FHLB 2,500,000.00 2,500,000.00 4.050%0.0006509 506,250.00 3,006,250.00 3130AUW59 03/08/23 02/17/28 FHLB 1,500,000.00 1,480,500.00 4.240%0.0004035 318,000.00 1,798,500.00 3133EPDC6 03/13/23 03/13/28 FFCB 1,000,000.00 1,000,000.00 5.350%0.0001639 267,500.00 1,267,500.00 3130AVCS9 03/29/23 03/29/28 FHLB 1,000,000.00 1,000,000.00 6.000%0.0001839 300,000.00 1,300,000.00 3133EPFU4 04/12/23 04/12/28 FFCB 2,500,000.00 2,496,600.00 3.530%0.0002700 437,500.00 2,937,500.00 3130AVK50 04/24/23 04/24/28 FHLB 1,500,000.00 1,500,000.00 5.000%0.0002298 375,000.00 1,875,000.00 3130AVZQ8 04/12/23 05/17/28 FHLB 1,880,000.00 1,871,070.00 5.150%0.0002953 460,600.00 2,340,600.00 3133EPMA0 06/09/23 06/09/28 FFCB 1,500,000.00 1,500,000.00 4.690%0.0002156 351,750.00 1,851,750.00 08/31/23 325,963,000.00 326,351,226.83 1.392%19,873,100.23 345,817,582.73 CUSIP Settlement Maturity Issuer Par Invested Yield Weighted average Interest expected Return 4581X0CC0 11/10/20 10/04/23 IADB 3,000,000.00 3,240,000.00 3.000%0.0045627 261,000.00 3,261,000.00 4581X0CC0 05/09/19 10/24/23 IADB 2,000,000.00 2,058,280.00 2.300%0.0022222 264,166.67 2,264,166.67 459056HV2 08/29/19 08/28/24 IBRD 2,000,000.00 2,006,920.00 1.428%0.0013453 149,916.67 2,149,916.67 45818WCW4 11/03/21 10/15/24 IADB 1,440,000.00 1,419,552.00 0.828%0.0005519 14,443.20 1,454,443.20 45950KCR9 02/04/21 10/16/24 IFC 2,000,000.00 2,079,800.00 0.290%0.0002833 101,750.00 2,101,750.00 45905U6L3 01/14/21 11/20/25 IBRD 2,000,000.00 2,250,220.00 0.510%0.0005387 303,125.00 2,303,125.00 45950VPJ9 01/25/21 01/15/26 IFC 2,000,000.00 2,007,840.00 0.500%0.0004713 57,677.78 2,057,677.78 4581X0DV7 04/23/21 04/20/26 IADB 3,000,000.00 3,000,720.00 0.870%0.0012256 131,031.25 3,131,031.25 45950VPY6 05/28/21 05/15/26 IFC 2,000,000.00 2,000,000.00 0.500%0.0004694 49,638.89 2,049,638.89 45906M4E8 07/31/23 06/26/28 IBRD 1,250,000.00 1,240,000.00 4.684%0.0027262 281,250.00 1,531,250.00 08/31/23 20,690,000.00 21,303,332.00 1.440%1,613,999.46 22,303,999.46 CUSIP Settlement Maturity Issuer Par Invested Yield Weighted average Interest expected Return 91282CAP6 01/10/22 10/15/23 US Treasury 2,500,000.00 2,455,078.13 1.211%0.0004202 5,236.95 2,505,236.95 91282CDD0 11/12/21 10/31/23 US Treasury 2,000,000.00 1,996,562.50 0.463%0.0001306 14,751.38 2,014,751.38 91282CDM0 01/14/22 11/30/23 US Treasury 2,000,000.00 1,987,343.75 0.841%0.0002360 18,763.74 2,018,763.74 91282CBE0 12/13/21 01/15/24 US Treasury 2,000,000.00 1,976,920.00 0.682%0.0001905 5,224.18 2,005,224.18 91282CBE0 11/15/21 01/15/24 US Treasury 1,500,000.00 1,485,825.00 0.126%0.0000265 4,060.80 1,504,060.80 91282CDV0 06/13/22 01/31/24 US Treasury 2,000,000.00 1,942,288.94 2.900%0.0007958 28,570.44 2,028,570.44 91282CBM2 06/25/21 02/15/24 US Treasury 2,500,000.00 2,484,765.63 0.357%0.0001253 8,252.76 2,508,252.76 9128286G0 11/15/21 02/29/24 US Treasury 2,500,000.00 2,600,183.50 2.283%0.0008387 135,972.03 2,635,972.03 91282CEG2 06/13/22 03/31/24 US Treasury 2,000,000.00 1,984,020.24 2.970%0.0008325 80,901.64 2,080,901.64 91282CBV2 12/07/21 04/15/24 US Treasury 2,000,000.00 1,985,937.50 0.677%0.0001898 17,657.97 2,017,657.97 9128286R6 03/17/22 04/30/24 US Treasury 2,000,000.00 2,011,875.00 1.961%0.0005574 94,972.38 2,094,972.38 912828WJ5 10/21/22 05/15/24 US Treasury 1,750,000.00 1,694,057.40 2.500%0.0005984 68,597.15 1,818,597.15 91282CCC3 12/07/21 05/15/24 US Treasury 2,000,000.00 1,978,437.50 0.697%0.0001947 12,196.13 2,012,196.13 9128286Z8 03/01/21 06/30/24 US Treasury 2,500,000.00 2,614,215.00 0.370%0.0001367 145,873.62 2,645,873.62 91282CCL3 10/21/22 07/15/24 US Treasury 3,000,000.00 2,789,648.44 4.302%0.0016955 19,504.08 3,019,504.08 9128282Y5 10/21/22 09/30/24 US Treasury 2,000,000.00 1,912,187.50 4.511%0.0012187 82,548.08 2,082,548.08 912828YH7 01/14/21 09/30/24 US Treasury 2,000,000.00 2,088,448.94 1.500%0.0004426 111,263.74 2,111,263.74 912828YV6 06/07/21 11/30/24 US Treasury 2,000,000.00 2,073,437.50 0.436%0.0001277 104,426.23 2,104,426.23 91282CDS7 10/21/22 01/15/25 US Treasury 4,000,000.00 3,712,187.50 4.548%0.0023854 100,516.30 4,100,516.30 US Treasury Supranationals Oct. 17, 2023 Item #1 Page 11 of 19 City of Carlsbad investment portfolio Investment detail August 31, 2023 912828ZC7 07/15/21 02/28/25 US Treasury 2,000,000.00 2,040,312.50 0.563%0.0001623 81,623.64 2,081,623.64 912828ZL7 02/19/21 04/30/25 US Treasury 2,000,000.00 1,997,920.00 0.400%0.0001129 31,450.28 2,031,450.28 912828ZT0 02/19/21 05/31/25 US Treasury 2,000,000.00 1,987,280.00 0.400%0.0001123 21,387.36 2,021,387.36 91282CEU1 10/21/22 06/15/25 US Treasury 3,000,000.00 2,877,180.00 4.530%0.0018416 228,586.07 3,228,586.07 91282CAM3 01/11/21 09/30/25 US Treasury 2,500,000.00 2,481,332.50 0.250%0.0000876 29,481.46 2,529,481.46 91282CAZ4 01/11/21 11/30/25 US Treasury 2,500,000.00 2,493,350.00 0.375%0.0001321 45,793.27 2,545,793.27 91282CBQ3 03/01/21 02/28/26 US Treasury 3,000,000.00 2,964,726.56 0.740%0.0003100 74,959.24 3,074,959.24 91282CBQ3 03/02/21 02/28/26 US Treasury 2,000,000.00 1,975,513.02 0.750%0.0002094 49,945.65 2,049,945.65 912828U24 12/27/21 11/15/26 US Treasury 2,500,000.00 2,594,531.25 1.200%0.0004400 244,198.90 2,744,198.90 91282CDK4 01/14/22 11/30/26 US Treasury 1,500,000.00 1,485,000.00 1.463%0.0003070 91,432.01 1,591,432.01 912828Z78 05/08/23 01/31/27 US Treasury 1,500,000.00 1,485,855.00 3.500%0.0007348 83,970.99 1,583,970.99 91282CFB2 04/21/23 07/31/27 US Treasury 2,500,000.00 2,400,000.00 3.770%0.0012784 294,181.63 2,794,181.63 91282CGC9 01/25/23 12/31/27 US Treasury 500,000.00 508,167.05 3.570%0.0002563 96,393.30 596,393.30 91282CGC9 01/31/23 12/31/27 US Treasury 750,000.00 760,105.97 3.647%0.0003916 144,108.25 894,108.25 9128284N7 07/17/23 05/15/28 US Treasury 1,000,000.00 953,056.40 3.952%0.0005322 143,750.00 1,143,750.00 08/31/23 71,500,000.00 70,777,750.22 1.805%2,720,551.65 74,220,551.65 CUSIP Settlement Maturity Issuer Par Invested Yield Weighted average Interest expected Return 74456QBW5 05/14/20 09/01/23 Public Service Electric 2,500,000.00 2,700,575.00 0.720%0.0001250 267,899.31 2,767,899.31 857477AM5 12/23/19 11/20/23 State Street Corporation 2,000,000.00 2,130,440.00 1.958%0.0002682 289,216.67 2,289,216.67 478160BH6 01/28/19 12/05/23 Johnson & Johnson (JNJ)1,500,000.00 1,541,250.00 2.765%0.0002740 245,671.87 1,745,671.87 89236TFS9 03/07/19 01/08/24 Toyota 1,000,000.00 1,017,865.00 2.950%0.0001930 162,009.72 1,162,009.72 931142DV2 01/16/20 01/15/24 Wal-Mart (WMT)2,000,000.00 2,067,790.00 1.900%0.0002526 260,436.11 2,260,436.11 17325FAS7 05/16/19 01/23/24 Citibank 1,000,000.00 1,034,870.00 2.836%0.0001887 171,043.06 1,171,043.06 17325FAS7 02/13/20 01/23/24 Citibank 2,500,000.00 2,674,670.00 1.770%0.0003043 359,930.56 2,859,930.56 17325FAS7 02/13/20 01/23/24 Citibank 2,000,000.00 2,142,600.00 1.733%0.0002387 287,944.44 2,287,944.44 17325FAS7 02/20/20 01/23/24 Citibank 1,500,000.00 1,603,710.00 1.780%0.0001835 214,893.75 1,714,893.75 46625HJT8 10/11/19 02/01/24 JP Morgan Chase Bank (JPM)1,765,000.00 1,900,834.40 2.000%0.0002444 294,473.10 2,059,473.10 06048WL40 01/24/22 02/26/24 Bank of America (BAC)3,000,000.00 2,945,610.00 1.300%0.0002462 26,300.00 3,026,300.00 58933YAU9 10/08/19 03/07/24 Microsoft (MSFT)1,500,000.00 1,581,000.00 1.604%0.0001630 188,379.17 1,688,379.17 09247XAL5 08/29/19 03/18/24 Blackrock Inc.2,000,000.00 2,162,500.00 1.640%0.0002280 318,694.44 2,318,694.44 09247XAL5 10/28/19 03/18/24 Blackrock Inc.1,000,000.00 1,071,360.00 1.801%0.0001241 153,611.11 1,153,611.11 09247XAL5 11/14/19 03/18/24 Blackrock Inc.1,000,000.00 1,065,420.00 1.923%0.0001317 152,055.56 1,152,055.56 09247XAL5 05/14/20 03/18/24 Blackrock Inc.3,000,000.00 3,300,600.00 0.845%0.0001794 403,666.67 3,403,666.67 931142DP5 04/24/20 04/22/24 Wal-Mart (WMT)2,500,000.00 2,737,467.50 0.875%0.0001540 329,541.67 2,829,541.67 931142DP5 04/24/20 04/22/24 Wal-Mart (WMT)2,000,000.00 2,191,860.00 0.700%0.0000986 263,633.33 2,263,633.33 48133DE55 04/29/22 04/29/24 JP Morgan Chase Bank (JPM)1,500,000.00 1,500,000.00 3.125%0.0003013 93,750.00 1,593,750.00 46625HJX9 07/31/19 05/13/24 JP Morgan Chase Bank (JPM)2,000,000.00 2,119,320.00 2.300%0.0003134 346,791.67 2,346,791.67 46625HJX9 07/13/20 05/13/24 JP Morgan Chase Bank (JPM)3,000,000.00 3,331,290.00 0.700%0.0001499 416,875.00 3,416,875.00 46625HJX9 12/13/21 05/13/24 JP Morgan Chase Bank (JPM)1,750,000.00 1,859,392.50 1.000%0.0001196 153,307.29 1,903,307.29 06406HCV9 07/01/20 05/15/24 Bank of NY Mellon (BNY)3,000,000.00 3,316,860.00 0.560%0.0001194 392,416.67 3,392,416.67 06048WQ60 12/03/21 06/03/24 Bank of America (BAC)2,500,000.00 2,500,000.00 1.000%0.0001607 62,500.00 2,562,500.00 742651DP4 06/27/19 07/15/24 PEFCO 2,500,000.00 2,565,850.00 1.900%0.0001494 309,142.36 2,809,142.36 023135AZ9 08/22/19 08/22/24 Amazon.com Inc. (AMZN)2,000,000.00 2,087,280.00 2.800%0.0003757 279,377.78 2,279,377.78 023135AZ9 10/17/19 08/22/24 Amazon.com Inc. (AMZN)2,500,000.00 2,604,850.00 1.860%0.0003115 339,305.56 2,839,305.56 06406RAL1 02/18/20 10/24/24 Bank of NY Mellon (BNY)3,055,000.00 3,093,737.40 1.816%0.0003612 300,459.25 3,355,459.25 06368G3W5 11/15/21 11/15/24 BMO 2,000,000.00 2,000,000.00 1.000%0.0001286 60,000.00 2,060,000.00 478160CJ1 01/15/20 01/15/25 Johnson & Johnson (JNJ)1,820,000.00 1,882,380.50 1.586%0.0001919 238,875.00 2,058,875.00 478160CJ1 04/08/20 01/15/25 Johnson & Johnson (JNJ)3,000,000.00 3,231,960.00 0.906%0.0001882 375,593.75 3,375,593.75 478160CJ1 07/13/20 01/15/25 Johnson & Johnson (JNJ)1,000,000.00 1,090,640.00 0.510%0.0000358 118,270.83 1,118,270.83 037833AZ3 09/10/21 02/09/25 Apple Inc. (AAPL)1,500,000.00 1,588,155.00 0.753%0.0000769 128,020.83 1,628,020.83 66989HAP3 04/13/20 02/14/25 Novartis Capital Corp 3,310,000.00 3,379,576.20 1.300%0.0002824 280,131.74 3,590,131.74 12572QAG0 06/03/20 03/15/25 CME Group Inc 2,771,000.00 3,050,981.84 0.730%0.0001432 397,638.50 3,168,638.50 654106AH6 12/31/20 03/27/25 Nike Inc.2,867,000.00 3,090,740.68 0.500%0.0000994 291,669.47 3,158,669.47 341081FZ53 05/13/20 04/01/25 Flordia Power & Light 3,667,000.00 3,980,565.17 1.020%0.0002610 509,193.51 4,176,193.51 78015K7H17 12/07/21 06/10/25 Royal Bank of Canada (RY)2,000,000.00 1,989,460.00 1.304%0.0001668 80,691.67 2,080,691.67 478160CN2 04/23/21 09/01/25 Johnson & Johnson (JNJ)1,250,000.00 1,241,700.00 0.705%0.0000563 29,944.44 1,279,944.44 742718FL8 09/20/21 10/29/25 Procter & Gamble (PG)1,500,000.00 1,487,460.00 0.757%0.0000724 33,893.75 1,533,893.75 92826CAD4 05/17/21 12/14/25 Visa Inc 1,250,000.00 1,368,500.00 0.910%0.0000801 180,140.62 1,430,140.62 06048WK82 08/23/21 01/26/26 Bank of America (BAC)1,000,000.00 989,470.00 1.000%0.0000636 33,550.00 1,033,550.00 58933YAY1 04/12/21 02/24/26 Merck 1,500,000.00 1,485,750.00 0.950%0.0000907 54,750.00 1,554,750.00 48128G2Q2 03/01/21 02/26/26 JP Morgan Chase Bank (JPM)2,000,000.00 2,000,000.00 0.800%0.0001029 80,000.00 2,080,000.00 478160BY9 03/01/21 03/01/26 Johnson & Johnson (JNJ)2,500,000.00 2,697,950.00 0.750%0.0001301 306,250.00 2,806,250.00 48128G3A6 03/03/21 03/03/26 JP Morgan Chase Bank (JPM)2,000,000.00 2,000,000.00 1.000%0.0001286 100,000.00 2,100,000.00 48128G3V0 06/11/21 06/11/26 JP Morgan Chase Bank (JPM)2,000,000.00 2,000,000.00 1.150%0.0001479 115,000.00 2,115,000.00 06048WM64 07/12/21 06/25/26 Bank of America (BAC)3,000,000.00 2,998,500.00 1.210%0.0002333 178,300.00 3,178,300.00 57629WDE7 07/22/21 07/16/26 Massmtual Global 3,750,000.00 3,784,537.50 1.010%0.0002457 224,250.00 3,974,250.00 594918BR4 08/11/21 08/08/26 Microsoft (MSFT)4,000,000.00 4,292,240.00 0.900%0.0002483 293,040.00 4,293,040.00 48128G5A4 08/25/21 08/25/26 JP Morgan Chase Bank (JPM)2,000,000.00 2,000,000.00 1.200%0.0001543 120,000.00 2,120,000.00 06048WN63 09/10/21 09/10/26 Bank of America (BAC)2,000,000.00 2,000,000.00 1.150%0.0001479 115,000.00 2,115,000.00 06048WP20 09/24/21 09/24/26 Bank of America (BAC)2,000,000.00 2,000,000.00 1.250%0.0001607 125,000.00 2,125,000.00 59217GBY4 01/19/22 12/18/26 Metlife (MET)4,000,000.00 4,281,720.00 1.940%0.0005340 678,116.67 4,678,116.67 06368GC39 12/30/21 12/30/26 BMO 2,450,000.00 2,450,000.00 2.000%0.0003150 245,000.00 2,695,000.00 742718FV6 02/04/22 02/01/27 Procter & Gamble (PG)2,000,000.00 2,010,459.28 1.331%0.0001721 189,683.33 2,189,683.33 742718FV6 05/11/23 02/01/27 Procter & Gamble (PG)1,000,000.00 935,367.00 3.620%0.0002177 76,000.00 1,076,000.00 48128G6F2 02/25/22 02/25/27 JP Morgan Chase Bank (JPM)5,000,000.00 5,000,000.00 2.550%0.0008196 637,500.00 5,637,500.00 478160CE2 04/18/22 03/03/27 Johnson & Johnson (JNJ)1,750,000.00 1,757,538.77 2.850%0.0003220 251,671.87 2,001,671.87 742718FG9 07/08/22 03/25/27 Procter & Gamble (PG)2,500,000.00 2,456,475.00 3.200%0.0005054 329,972.22 2,829,972.22 64952WEQ2 06/23/23 04/07/27 New York Life Global 1,500,000.00 1,428,750.00 4.630%0.0004252 195,000.00 1,695,000.00 64952WEQ2 07/18/23 04/07/27 New York Life Global 2,000,000.00 1,908,020.00 4.610%0.0005655 260,000.00 2,260,000.00 06048WW63 06/23/22 06/22/27 BAC 3,000,000.00 3,000,000.00 5.000%0.0009643 750,000.00 3,750,000.00 194162AN3 05/09/23 08/15/27 Colgate-Palmolive (COLGAT)2,000,000.00 1,997,600.00 3.694%0.0004744 223,408.33 2,264,533.33 81257VAA9 03/10/23 10/01/27 Seattle Children Hosp (CHLDHS)1,000,000.00 852,445.33 5.000%0.0002740 222,581.34 1,222,581.34 78014RHK9 10/18/22 10/18/27 Royal Bank of Canada (RY)2,500,000.00 2,500,000.00 5.700%0.0009161 712,500.00 3,212,500.00 06374VBX3 11/15/22 11/15/27 BMO 4,000,000.00 4,000,000.00 6.250%0.0016071 1,250,000.00 5,250,000.00 78014RKF6 01/18/23 01/18/28 Royal Bank of Canada (RY)2,500,000.00 2,500,000.00 5.450%0.0008759 691,090.22 3,191,090.22 08/31/23 150,455,000.00 155,557,944.07 1.858%18,265,054.21 168,761,179.21 Corporate notes Oct. 17, 2023 Item #1 Page 12 of 19 City of Carlsbad investment portfolio Investment detail August 31, 2023 CUSIP Settlement Maturity Issuer Par Invested Yield Weighted average Interest expected Return 063615BQ0 09/26/18 09/26/23 Bank Midwest 245,000.00 245,000.00 3.150%0.0003672 38,587.50 283,587.50 06062R4E9 09/28/18 09/28/23 Bank Of Baroda 245,000.00 245,000.00 3.300%0.0003847 40,425.00 285,425.00 635573AK4 11/15/18 10/30/23 National Cooperative Bank 245,000.00 245,000.00 3.450%0.0004022 41,891.98 286,891.98 06251AV31 11/14/18 11/14/23 Bank Hapoalim Bm 245,000.00 245,000.00 3.500%0.0004080 42,875.00 287,875.00 61760ARV3 11/15/18 11/15/23 Morgan Stanley Pvt Bank 245,000.00 245,000.00 3.550%0.0004138 43,487.50 288,487.50 856283G59 11/29/18 11/29/23 State Bank Of India 245,000.00 245,000.00 3.600%0.0004197 44,100.00 289,100.00 29367RKT2 05/16/19 05/16/24 Enterprise Bank 246,000.00 246,000.00 2.600%0.0003043 31,980.00 277,980.00 27002YEN2 05/24/19 05/24/24 Eagle Bank 249,000.00 249,000.00 2.500%0.0002962 31,125.00 280,125.00 336460CQ1 06/28/19 06/28/24 First State Bank Dequeen 249,000.00 249,000.00 2.300%0.0002725 28,635.00 277,635.00 14042RMN8 07/31/19 07/31/24 Capital One 247,000.00 247,000.00 2.250%0.0002644 27,787.50 274,787.50 938828BM1 08/30/19 08/30/24 Washington Federal 249,000.00 249,000.00 2.000%0.0002370 24,900.00 273,900.00 29278TLH1 09/13/19 09/13/24 Enerbank Usa 249,000.00 249,000.00 1.750%0.0002073 21,787.50 270,787.50 15118RSC2 09/18/19 09/30/24 Celtic Bank 249,000.00 249,000.00 1.700%0.0002014 20,956.25 269,956.25 75472RAN1 11/26/19 11/26/24 Raymond James Bank NA 247,000.00 247,000.00 1.850%0.0002174 22,872.54 269,872.54 61690URM4 01/09/20 01/09/25 Morgan Stanley Bank NA 247,000.00 247,000.00 1.900%0.0002233 23,490.72 270,490.72 07815AAZ0 02/27/20 02/27/25 Bell Bank Corp 249,000.00 249,000.00 1.600%0.0001896 19,941.88 268,941.88 17037TEN3 03/13/20 03/13/25 Choice Financial Group 248,000.00 248,000.00 1.100%0.0001298 13,647.47 261,647.47 02554BDA6 03/13/20 03/13/25 American Eagle bank 249,000.00 249,000.00 1.100%0.0001303 13,702.54 262,702.54 73319FAF6 03/18/20 03/18/25 Poppy Bank 249,000.00 249,000.00 1.100%0.0001303 13,702.54 262,702.54 835104BZ2 03/19/20 03/19/25 Somerset Trust 249,000.00 249,000.00 1.000%0.0001185 12,456.88 261,456.88 45083ANS7 03/20/20 03/20/25 Iberia Bank 248,000.00 248,000.00 1.000%0.0001180 12,406.79 260,406.79 072727BF6 03/27/20 03/27/25 Baycoast Bank 248,000.00 248,000.00 0.950%0.0001121 11,786.45 259,786.45 02519TAZ9 03/27/20 03/27/25 American Commerce Bank 249,000.00 249,000.00 0.950%0.0001126 11,834.03 260,834.03 14042TDD6 04/08/20 04/08/25 Capital One 248,000.00 248,000.00 1.600%0.0001888 19,850.88 267,850.88 33847E3H8 05/15/20 05/15/25 Flagstar Bank 248,000.00 248,000.00 0.850%0.0001003 10,545.77 258,545.77 29260MBF1 05/15/20 05/15/25 Encore Bank 249,000.00 249,000.00 0.800%0.0000948 9,965.41 258,965.41 404730CR2 05/26/20 05/27/25 Haddon Savings Bank 248,000.00 248,000.00 0.750%0.0000885 9,310.19 257,310.19 43719LAE5 05/29/20 05/29/25 Home Loan Inv Bank 249,000.00 249,000.00 0.800%0.0000948 9,965.41 258,965.41 69506YRT8 05/29/20 05/29/25 Pacific Western Bank 249,000.00 249,000.00 0.700%0.0000829 8,719.77 257,719.77 56102AAJ5 05/29/20 05/29/25 Malaga Bank 249,000.00 249,000.00 0.700%0.0000829 8,719.87 257,719.87 86128QCF3 06/10/20 06/10/25 Stockman Bank 249,000.00 249,000.00 0.600%0.0000711 7,474.10 256,474.10 740367MA2 07/17/20 07/17/25 Preferred Bank 249,000.00 249,000.00 0.500%0.0000592 6,228.46 255,228.46 89235MJZ5 07/16/20 07/28/25 Toyota Financial Savings Bank 249,000.00 249,000.00 0.650%0.0000770 8,096.93 257,096.93 211163KQ2 07/29/20 07/29/25 Continental Bank 249,000.00 249,000.00 0.500%0.0000592 6,228.46 255,228.46 02007GXF5 08/09/22 08/04/25 Ally Bank (GMATBK)201,000.00 201,000.00 3.400%0.0003252 20,427.10 221,427.10 549104RV1 08/14/20 08/14/25 Luana Savings Bank 249,000.00 249,000.00 0.450%0.0000533 5,605.57 254,605.57 32022RNT0 08/19/20 08/19/25 1st Financial Bank 249,000.00 249,000.00 0.450%0.0000533 5,605.82 254,605.82 31944MBB0 08/20/20 08/20/25 1st Carolina Bank 249,000.00 249,000.00 0.450%0.0000533 5,605.82 254,605.82 664122AF5 08/20/20 08/20/25 Northeast Community Bank 249,000.00 249,000.00 0.450%0.0000533 5,605.82 254,605.82 228212AQ9 09/04/20 09/04/25 Crown Bank 249,000.00 249,000.00 0.400%0.0000474 4,982.62 253,982.62 59013KKJ4 09/15/20 09/15/25 Merrick 249,000.00 249,000.00 0.400%0.0000474 4,982.62 253,982.62 2027506P5 10/22/20 09/25/25 Commonwealth Bus Bank 249,000.00 249,000.00 0.400%0.0000474 4,908.94 253,908.94 51507LBY9 09/29/20 09/29/25 Landmark Community 249,000.00 249,000.00 0.400%0.0000474 4,982.58 253,982.58 538036LQ5 10/22/20 10/08/25 Live Oak Bank 249,000.00 249,000.00 0.400%0.0000474 4,944.42 253,944.42 560390AS5 10/15/20 10/15/25 Maine Comm Bank 249,000.00 249,000.00 0.350%0.0000415 4,359.94 253,359.94 33625CDS5 10/16/20 10/16/25 First Security Bank Wash 249,000.00 249,000.00 0.350%0.0000415 4,359.94 253,359.94 780684AJ5 11/06/20 10/23/25 Royal Savings Bank 249,000.00 249,000.00 0.400%0.0000474 4,944.42 253,944.42 33744AAW9 11/18/20 11/18/25 First US Bank 249,000.00 249,000.00 0.400%0.0000474 4,982.62 253,982.62 88413QCU0 12/18/20 12/18/25 Third Federal Savings and Loan 249,000.00 249,000.00 0.450%0.0000533 5,605.56 254,605.56 91330ACR6 12/18/20 12/18/25 Unity Bank 249,000.00 248,377.50 0.400%0.0000473 4,982.72 253,982.72 882214AA7 01/08/21 12/23/25 Texas Bank Henderson 249,000.00 249,000.00 0.450%0.0000533 5,556.70 254,556.70 634116CW5 12/28/20 12/23/25 National Bank of NY City 249,000.00 248,688.75 0.400%0.0000473 4,968.98 253,968.98 08016PDV8 12/23/20 12/23/25 Belmont Savings Bank 249,000.00 248,377.50 0.400%0.0000473 4,982.62 253,982.62 06424KBH2 01/08/21 01/08/26 Bank of Santa Clarita 249,000.00 248,688.75 0.400%0.0000473 4,982.62 253,982.62 38522ABP0 01/08/21 01/08/26 Grand Bank Tulsa 249,000.00 248,688.75 0.400%0.0000473 4,982.62 253,982.62 20143PEH9 01/26/21 01/26/26 Commercial Bank 249,000.00 248,751.00 0.471%0.0000557 5,605.82 254,605.82 15258RAV9 01/27/21 01/27/26 Central Bank Storm Lake 249,000.00 248,751.00 0.471%0.0000557 5,605.82 254,605.82 43786UAJ2 02/18/21 01/29/26 Hometown Bk of Alabama 249,000.00 249,000.00 0.400%0.0000474 4,928.04 253,928.04 909242AN9 02/26/21 02/26/26 United Rep Bk Omaha 249,000.00 249,000.00 0.400%0.0000474 4,982.61 253,982.61 12527CDV1 03/03/21 03/03/26 CFG Community Bk 249,000.00 249,000.00 0.400%0.0000474 4,982.73 253,982.73 110087AS2 03/10/21 03/10/26 Bristol Morgan Bank 249,000.00 249,000.00 0.450%0.0000533 5,605.82 254,605.82 87164XA30 09/03/21 09/03/26 Syncrony Bank (SYF)249,000.00 249,000.00 0.900%0.0001066 11,205.00 260,205.00 90348JS92 09/09/21 09/09/26 UBS Bank USA (UBS)249,000.00 249,000.00 0.950%0.0001126 11,834.03 260,834.03 795451BH5 04/05/22 02/23/27 Sallie May Bank 247,000.00 242,902.27 2.564%0.0002963 26,574.50 273,574.50 598580AM0 03/08/23 03/08/27 Mifflinburg Bank and Trust Company 249,000.00 249,000.00 4.650%0.0005509 46,345.77 295,345.77 64034KBF7 03/09/22 03/09/27 Nelnet Bank Inc (NELNTB)247,000.00 247,000.00 1.950%0.0002292 24,095.69 271,095.69 27004PCN1 03/09/22 03/09/27 Eaglemark Savings (EAGSBK)247,000.00 247,000.00 2.000%0.0002350 24,713.53 271,713.53 07371CN21 03/16/22 03/10/27 Beal Bank NV (BSVBK)247,000.00 247,000.00 1.800%0.0002115 22,169.09 269,169.09 07371AB28 03/16/22 03/10/27 Beal Bank TX (BEALBK)247,000.00 247,000.00 1.800%0.0002115 22,169.09 269,169.09 02589ABW1 03/23/22 03/23/27 American Exp Bank (AXP)247,000.00 247,000.00 2.200%0.0002586 27,184.89 274,184.89 31938QW34 02/15/22 04/15/27 First Business Bank 245,000.00 245,000.00 3.900%0.0004546 33,790.69 278,790.69 254673D94 05/18/22 05/19/27 Discover Bank 246,000.00 246,000.00 3.200%0.0003746 39,403.14 285,403.14 910286GS6 07/14/23 07/14/27 United Fidelity Bank 249,000.00 249,000.00 4.600%0.0005450 45,847.38 294,847.38 34520LAY9 12/15/22 12/15/27 Forebright Bank (FORBBK)249,000.00 248,651.40 4.031%0.0004769 49,827.34 298,827.34 84229LBJ0 12/16/22 12/16/27 Southern Bank (SBSARD)245,000.00 245,000.00 4.000%0.0004663 49,026.84 294,026.84 70212YBE1 02/22/23 02/22/28 Partners Bank California 245,000.00 245,000.00 3.850%0.0004488 47,188.34 292,188.34 062119BH4 03/08/23 03/07/28 Bank Five Nine 249,000.00 249,000.00 4.550%0.0005391 56,678.44 305,678.44 05580AW59 03/10/23 03/10/28 BMW Bank North America 244,000.00 244,000.00 4.600%0.0005340 56,181.50 300,181.50 108622NK3 03/29/23 03/29/28 Bridgewater Bk 249,000.00 249,000.00 4.800%0.0005687 59,825.54 308,825.54 178180GY5 03/31/23 03/31/28 City Natl Bk - Los Angeles 243,000.00 243,000.00 5.000%0.0005781 60,816.56 303,816.56 914098DQ8 04/03/23 04/03/28 University Bank NA 249,000.00 249,000.00 4.800%0.0005687 59,825.53 308,825.53 23204HPB8 06/06/23 04/14/28 Customers Bank 244,000.00 244,000.00 4.500%0.0005224 53,365.81 298,960.16 05600XQE3 05/16/23 05/16/28 BMO Harris Bank NA 244,000.00 244,000.00 4.500%0.0005224 54,960.16 298,960.16 91527PCD7 06/06/23 06/21/28 Univest Bank & Trust 249,000.00 249,000.00 4.500%0.0005331 56,546.88 305,546.88 501798UJ9 07/18/23 07/18/28 LCA Bank Corporation 243,000.00 243,000.00 4.500%0.0005203 54,734.92 297,734.92 08/31/23 21,024,000.00 21,016,876.92 1.813%1,847,866.87 22,873,461.22 Certificate of deposit Oct. 17, 2023 Item #1 Page 13 of 19 City of Carlsbad investment portfolio Investment detail August 31, 2023 CUSIP Settlement Maturity Issuer Par Invested Yield Weighted average Interest expected Return 3137FBTA4 03/10/21 08/25/24 FHLM - FHMS K728 2,889,665.55 3,122,455.07 3.064%0.0023201 153,244.21 3,042,909.76 3137F32A1 04/15/20 11/25/24 FHMS KHG1 A1 1,320,172.47 1,411,422.71 0.999%0.0003419 217,130.28 1,537,302.75 3137BL6J2 07/22/22 12/25/24 FHLMC FHMS K048 A1 1,020,774.05 1,010,566.31 3.425%0.0008394 64,096.69 1,084,870.74 3137BM7B6 06/30/22 04/25/25 FHMS K051 A1 2,638,956.55 2,618,339.70 3.299%0.0020947 163,239.98 2,802,196.53 30315EAA4 07/24/20 05/25/25 FRESB MFM 892,204.24 893,220.15 0.830%0.0001798 15,869.91 908,074.15 3137BJQ71 03/15/21 05/25/25 FHLMC - FHMS KPLB A 2,000,000.00 2,157,500.00 2.770%0.0014493 110,231.60 2,110,231.60 31398E6W9 08/27/20 06/15/25 FHLMC FHR 3544 BC 78,025.12 144,442.39 0.532%0.0000186 83,540.73 161,565.85 30318NAA1 02/19/21 01/25/26 FRESB 2021-SB83 1,283,310.02 1,288,657.34 0.505%0.0001578 22,551.11 1,305,861.13 3137BPW21 03/25/21 03/25/26 FHLM - KHMS K055 2,500,000.00 2,700,000.00 2.673%0.0017502 154,976.68 2,654,976.68 3137BP4J5 08/20/21 03/25/26 FHLMC - FHMS K1R1 1,406,392.45 1,246,502.04 0.414%0.0001251 239,848.91 1,646,241.36 30321CAQ5 07/23/21 04/25/26 FRESB 1,783,379.91 1,791,756.43 0.746%0.0003241 40,587.56 1,823,967.47 30324QAC2 01/21/22 11/25/26 FRESB 2022-SB94 4,237,662.49 4,257,261.47 1.500%0.0015486 171,584.69 4,409,247.18 30311SAA7 04/22/22 04/25/27 FRESB 2022-SB97 A5F 3,389,732.35 3,255,390.49 2.803%0.0022128 145,119.91 3,534,852.26 30329MAA0 10/28/22 06/25/27 FRESB 2022-SB103 A5F 1,591,138.09 1,425,479.92 4.989%0.0017246 186,362.10 1,777,500.19 30329QAA1 11/18/22 09/25/27 FRESB 3,971,479.35 3,625,317.28 2.600%0.0022858 248,449.63 4,219,928.98 3132XGRH1 01/27/23 11/01/27 FRESB - FR WN2287 3,000,000.00 2,972,812.50 3.929%0.0028323 259,613.30 3,259,613.30 3138L7D60 12/16/22 12/16/27 FN AM6424 987,509.45 956,032.59 4.212%0.0009765 77,476.88 1,064,986.33 30332EAA3 07/20/23 05/25/28 FRESB 2,999,636.82 2,934,421.72 4.090%0.0029105 298,198.55 3,297,472.19 30333AAA0 08/17/23 06/25/28 FRESB 3,500,000.00 3,424,568.00 4.793%0.0039807 360,293.39 3,860,293.39 08/31/23 41,490,038.91 41,236,146.11 2.807%3,012,416.11 44,502,091.84 Municpal Bonds CUSIP Settlement Maturity Issuer Par Invested Yield Weighted average Interest expected Return 005158XL9 06/17/21 03/15/24 Ada&Canyon Cty SD 1,500,000.00 1,710,405.00 0.520%0.0001186 237,083.33 1,737,083.33 127145LE8 05/27/21 06/15/24 Cache County SD 3,250,000.00 3,505,872.50 0.400%0.0001869 297,375.00 3,547,375.00 419792ZK5 02/26/21 10/01/24 State of Hawaii 3,000,000.00 3,039,420.00 0.433%0.0001754 86,549.17 3,086,549.17 419792ZK5 03/17/22 10/01/24 State of Hawaii 2,000,000.00 1,933,240.00 2.160%0.0005566 40,723.78 2,040,723.78 79771FAX5 03/01/21 11/01/24 City of San Francisco Util 1,000,000.00 1,004,450.00 0.600%0.0000803 26,523.31 1,026,523.31 575181GX 06/02/21 12/01/24 Mason & Kitsap Counties SD 640,000.00 640,000.00 0.538%0.0000459 12,041.64 652,041.64 023051YW9 07/19/21 02/01/25 Amarillo Independent SD 1,800,000.00 1,762,290.00 0.600%0.0001409 - 1,800,000.00 3130ALRK2 03/22/21 02/15/25 Texas St Tech Univ 2,500,000.00 2,524,850.00 0.679%0.0002285 91,389.86 2,591,389.86 91412HGE7 06/29/21 05/15/25 University of California 1,960,000.00 1,966,154.40 0.799%0.0002094 67,111.92 2,027,111.92 91412HGE7 03/01/21 05/15/25 University of California 1,500,000.00 1,517,250.00 0.600%0.0001213 55,724.13 1,555,724.13 625506QN3 02/02/21 06/15/25 County of Multnomah OR 2,000,000.00 2,006,040.00 0.430%0.0001150 37,553.89 2,037,553.89 91412GU94 01/28/21 07/01/25 University of California UNVHGR 1,805,000.00 1,995,210.90 0.509%0.0001354 244,645.68 2,049,645.68 13063DMA3 06/30/22 09/15/25 State of Connecticut 2,850,000.00 2,850,000.00 3.201%0.0012159 342,250.56 3,192,250.56 13063DMA3 05/18/21 04/01/26 State of California 1,250,000.00 1,353,350.00 0.910%0.0001642 161,300.35 1,411,300.35 569280EX4 04/01/21 04/01/26 State of California 4,140,000.00 4,478,652.00 0.970%0.0005791 548,550.00 4,688,550.00 736688MF6 12/07/21 06/15/26 Marion County School (MARSCD)1,880,000.00 1,885,245.20 1.374%0.0003453 122,255.56 2,002,255.56 842475P82 09/01/21 06/15/26 Portland Community College (PORHGR)1,100,000.00 1,102,992.00 0.841%0.0001236 47,357.32 1,147,357.32 544646A77 02/11/22 07/01/26 Sthrn CA ST Pub Pwr Auth (STNPWR)2,485,000.00 2,415,643.65 1.930%0.0006214 15,705.20 2,500,705.20 20772KEW5 01/06/22 08/01/26 San Jose Redev (SJSDEV)3,000,000.00 3,220,260.00 1.507%0.0006469 476,400.00 3,476,400.00 798170AJ5 08/12/21 08/01/26 San Diego Community College 3,000,000.00 3,209,550.00 0.860%0.0003679 342,742.58 3,342,742.58 797272QR5 08/23/21 08/01/26 Santa Barbara CA USD (SBBSCD)500,000.00 511,970.00 0.842%0.0000575 33,041.17 533,041.17 801315KR2 08/23/21 08/01/26 San Jose Evergreen CC (SJSHGR)750,000.00 799,522.50 0.842%0.0000897 81,862.08 831,862.08 6041295T9 08/10/22 08/01/26 Minnesota State (MNS)1,215,000.00 1,215,000.00 3.250%0.0005263 174,512.81 1,389,512.81 798189PY6 03/02/22 10/01/26 State of Hawaii (HIS)2,000,000.00 1,938,920.00 1.810%0.0004678 101,809.78 2,101,809.78 419792ZN9 02/08/22 10/01/26 CAS 2,400,000.00 2,468,808.00 1.730%0.0005693 264,891.67 2,664,891.67 13063DRD2 04/18/22 12/01/26 CASWTR 2,705,000.00 2,475,237.30 3.035%0.0010013 170,415.98 2,875,415.98 13067WSW3 03/29/22 12/01/26 CASWTR 1,425,000.00 1,322,001.00 2.708%0.0004772 90,565.95 1,515,565.95 13067WSW3 12/20/21 12/01/26 CASWTR 1,275,000.00 1,257,405.00 1.051%0.0001762 84,523.29 1,359,523.29 13067WSW3 06/13/22 05/01/27 LA Unified (LOSSCD)3,500,000.00 3,883,600.00 3.820%0.0019775 977,643.33 4,477,643.33 419794F72 06/06/23 07/01/27 Hawaii State (HISAPT)1,125,000.00 1,004,962.50 4.720%0.0006323 82,624.50 1,207,624.50 544495VX9 08/27/23 07/01/27 Los Angeles Dept of Water & Power 1,500,000.00 1,580,685.00 4.100%0.0008639 345,669.33 1,845,669.33 438701Y40 06/28/23 07/01/27 Honolulu Wastewater System Revenue 1,500,000.00 1,392,885.00 4.460%0.0008281 168,412.50 1,668,412.50 357155BA7 05/09/23 08/01/27 Fremont CA Unified School District 2,000,000.00 1,795,450.00 3.750%0.0008975 94,110.34 2,094,110.34 796720NT3 02/22/23 08/01/27 SBDHGR 1,500,000.00 1,328,325.00 1.480%0.0009228 107,266.25 1,607,266.25 212204JH5 08/31/23 08/01/27 Contra Costa CA Community College Dist 1,000,000.00 909,510.00 4.720%0.0020151 86,520.00 1,086,520.00 68609TU22 08/22/23 08/01/27 Oregon State Dept of Transportation 1,585,000.00 1,394,070.90 1.354%0.0008860 85,843.60 1,670,843.60 91412HGF4 05/15/23 08/15/27 University of California 1,000,000.00 908,270.00 3.810%0.0004613 52,640.00 1,052,640.00 072031AP2 08/01/23 10/01/27 Bay Area Water 1,250,000.00 1,185,562.50 4.742%0.0026390 189,281.25 1,439,281.25 68607DVD4 06/16/23 11/15/27 Oregon State Dept of Transportation 2,000,000.00 1,738,740.00 4.370%0.0010128 97,560.00 2,097,560.00 7994082H1 08/24/23 08/01/28 San Ramon Valley School District 1,000,000.00 861,870.00 4.850%0.0005572 83,500.00 1,083,500.00 798170AL0 08/01/23 08/01/28 San Jose Redevelopment 1,000,000.00 928,700.00 4.750%0.0005880 156,250.00 1,156,250.00 08/31/23 74,890,000.00 75,022,370.35 2.383%6,782,227.11 81,672,227.11 Cash CUSIP Settlement Maturity Issuer Par Invested Yield Weighted average Interest expected Return 01WFBCASH Wells Fargo Bank - General 2,606,119.00 2,606,119.00 0.100%0.0000166 214.20 2,606,333.20 01WFBSWEEP Wells Fargo Sweep account 10,637,500.25 10,637,500.25 5.202%0.0035303 45,482.31 10,682,982.56 01WFBCUSTODY Wells Fargo Bank - Custody 474,398.00 474,398.00 0.100%0.0000030 38.99 474,436.99 01CAMP1028 CAMP 141,235,234.95 141,235,234.95 5.520%0.0497377 640,782.33 141,876,017.28 01CI0502 LAIF City 205,022.72 205,022.72 3.434%0.0000449 586.71 205,609.43 01CM0502 LAIF CMWD 828,686.04 828,686.04 3.434%0.0001815 2,371.42 831,057.46 01PF10391 LAIF CPFA 759,107.19 759,107.19 3.434%0.0001663 2,172.31 761,279.50 08/31/23 156,746,068.15 156,746,068.15 5.368%691,648.27 157,437,716.42 GRAND TOTAL 862,758,107.06 868,011,714.65 2.392%54,806,863.91 917,588,809.64 Mortgage backed securities (agency) Oct. 17, 2023 Item #1 Page 14 of 19 Exhibit 7 City of Carlsbad investment portfolio Fund equity in pooled investments August 31, 2023 Cash balance by fund: General 156,293,419 Special revenue 33,568,581 Capital projects: Infrastructure replacement 121,671,616 Special districts 107,818,590 General capital construction 50,596,153 Public facilities fees 30,678,760 Traffic impact fees 22,374,933 Gas tax 19,437,517 Park development 16,545,033 Technology investment 15,246,582 TransNet taxes 7,748,644 Drainage fees 5,015,031 Capital project subtotal 397,132,859 Enterprise: Carlsbad Municipal Water District 142,164,504 Sewer fund 45,823,007 Storm water 6,838,675 Solid waste 4,128,141 Golf course 5,657,385 Enterprise subtotal 204,611,712 Internal service 56,092,964 Fiduciary 8,294,300 Total general ledger balance **855,993,835 Reconciling adjustments (1)6,082,820 Total treasurer's investment portfolio at amortized cost $862,076,655 **Figures based on best estimate at the time report run on 09/14/2023. (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. Oct. 17, 2023 Item #1 Page 15 of 19 Exhibit 8 City of Carlsbad investment portfolio Security ratings and outlooks As of August 31, 2023 Corporate notes Moody's S&P Fitch Outlook 3M Company A1 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 Bank of New York Mellon Corp A1 A AA-Neg/Stable/Stable Blackrock Inc AA3 AA-Stable/Stable/ Citibank AA3 A+ A+Stable/Stable/Stable CME Group Inc AA3 AA- AA-Stable/Stable/Stable Colgate-Palmolive AA3 AA-Stable/Negative Flordia Power and Light Co AA2 A+ AA-Stable/Stable/Stable Johnson & Johnson AAA AAA Stable/Neg JP Morgan Chase Bank A1 A- AA-Stable/Stable/Stable MassMutual Global Funding AA3 AA+ AA+ /Stable/ Merck & Co A1 A+Stable/Stable/ Met Life Global AA3 AA- AA- /Stable/ Microsoft AAA AAA Stable/Stable/ Nike Inc.A1 AA-Stable/Stable/ New York Life AAA AA+ AAA Stable Novartis Capital Corp A1 AA- AA-Positive/Stable Procter & Gamble AA3 AA-Stable/Stable/ Private Export Funding AAA N/R AA+Stable Public Service Electric A1 A Stable/Stable/ Royal Bank of Canada A1 A AA-Stable/Stable/Stable Seattle Children's Hospital AA2 N/A AA Stable State Street Corporation A1 A AA-Stable/Stable/Stable Toyota A1 A+ A+Stable/Stable/Stable Visa Inc.AA3 AA-Stable/Stable/ Wal-Mart AA2 AA AA Stable/Stable/Stable 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. 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. Oct. 17, 2023 Item #1 Page 16 of 19 City of Carlsbad investment portfolio Security ratings and outlooks As of August 31, 2023 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 N/A AA-Stable Los Angeles Water & Power AA2 AA-Stable LA County SD AA3 AA-Stable Marion County SD AA1 AA+ AA+Stable Mason/Kitsap Cty SD AAA AA+ AA+Stable Minnesota State AAA AAA AAA Stable Oregon State Dept of Transp AA1 AAA AA+Stable Portland CC AA1 AA+ AA+Stable San Bernardino CCD AA1 AA Stable San Diego CC AA1 AAA Stable San Dieguito Union HS AA1 AAA 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 N/A AA- AA-Stable State of California AA2 AA- AA Stable/positive/stable State of Hawaii AA2 AA+ AA Stable Texas Tech University AA1 AA+ Stable University of California AA2 AA AA Stable Corporate notes Moody's S&P Fitch Maturity date Purchased Book value Merck A1 A+ 04/24/26 04/12/21 1,492,737$ Public Service Electric A1 A 09/01/23 05/14/20 2,500,000$ Toyota A1 A+A+01/08/24 07/01/19 1,001,303$ 4,994,040$ 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 shoud be sold. Investments with subsequent changes in credit rating * 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. * All investments were in compliance with the city's investment policy unless otherwise denoted. Oct. 17, 2023 Item #1 Page 17 of 19 Exhibit 9 City of Carlsbad investment portfolio Portfolio allocation at amortized cost by issuer August 31, 2023 Corporate notes Amortized cost Portfolio allocation* 3M Company 1,509,481$ 0.18% Amazon.com Inc.4,538,148 0.53% Apple Inc.1,537,156 0.18% Bank of America 16,480,772 1.91% Bank of Montreal 8,450,000 0.98% Bank of New York Mellon 6,122,599 0.71% Blackrock Inc.7,079,457 0.82% Citibank 7,045,085 0.82% CME Group 2,861,075 0.33% Colgate-Palmolive 1,956,816 0.23% Florida Power & Light 3,768,668 0.44% Johnson & Johnson 13,034,267 1.51% JP Morgan Chase Bank 23,137,789 2.68% Massmutual Global 3,769,925 0.44% Merck 1,492,737 0.17% Metlife 4,188,079 0.49% Microsoft 4,171,896 0.48% New York Life Global 3,343,143 0.39% Nike Inc.2,949,986 0.34% Novartis Capital Corp 3,330,901 0.39% Procter & Gamble 6,908,303 0.80% Private Export Funding Corp.2,511,380 0.29% Public Service Electric 2,500,000 0.29% Royal Bank of Canada 6,994,667 0.81% Seattle Children's Hospital 863,042 0.10% State Street Corporation 2,007,324 0.23% Toyota 1,001,303 0.12% Visa Inc.1,309,214 0.15% Wal-Mart 6,586,748 0.76% Mortgage backed securities Amortized cost Portfolio allocation* FAMCA 3,625,317 0.42% FHLMC 14,573,086 1.69% FNMA 23,203,626 2.69% Federal agencies Amortized cost Portfolio allocation** Federal Agricultural Mortgage Corp.23,146,535 2.68% Federal Farm Credit Bank 97,313,197 11.29% Federal Home Loan Bank 120,906,775 14.03% Federal Home Loan Mortgage Corp.47,000,848 5.45% Federal National Mortgage Assoc.36,162,169 4.19% Tennessee Valley Authority 1,026,588 0.12% Oct. 17, 2023 Item #1 Page 18 of 19 City of Carlsbad investment portfolio Portfolio allocation at amortized cost by issuer August 31, 2023 Municipal Bonds Amortized cost Portfolio allocation* Ada/Canyon Cty SD 1,563,602 0.18% Amarillo Independent SD 1,784,864 0.21% Bay Area Water 1,186,851 0.14% Cache County SD 3,316,182 0.38% City of San Francisco 1,001,417 0.12% Contra Costa CC 909,510 0.11% County of Multnomah 2,002,473 0.23% Fremont CA SD 1,810,586 0.21% Honolulu Wastewater 1,397,562 0.16% LA Unified SD 3,720,383 0.43% LA Dept of Water & Power 1,574,033 0.18% Marion County SD 1,883,234 0.22% Mason/Kitsap Cty SD 640,000 0.07% Minnesota State 1,215,000 0.14% Oregon State Dept of Transp 3,146,353 0.36% Portland CC 1,101,742 0.13% San Bernardino CC 1,348,553 0.16% San Diego CC 3,122,989 0.36% San Jose Evergreen CC 779,246 0.09% San Jose Redevelpment 4,070,167 0.47% San Ramon Valley SD 862,414 0.10% Santa Barbara CA USD 507,069 0.06% Southern CA Public Power 2,440,226 0.28% State of California 13,225,598 1.53% State of Connecticut 2,858,295 0.33% State of Hawaii 7,954,197 0.92% Texas Tech University 2,509,281 0.29% University of California 6,268,518 0.73% Other Amortized cost Portfolio allocation Supranational 20,782,493 2.41% US Treasury 70,919,815 8.23% Certificate of deposits 21,019,831 2.44% Cash 156,746,068 18.18% Total portfolio amortized cost 862,076,655$ * No more than 5% may be invested with a single issuer. **There are no percentage limits on federal agency issuers. Oct. 17, 2023 Item #1 Page 19 of 19