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HomeMy WebLinkAboutItem No. 17 SA Investment Report October 2020City of Lake Elsinore LW811-Si no 130 South Main Street Lake Elsinore, CA 92530 www.lake - elsinore.org Ne °— IKikr- ' City Council Agenda Report File Number: TMP 19 -1016 Agenda Date: 11/10/2020 Version: 1 Status: Approval Final In Control: City Council / Successor Aqency Agenda Number: 17) SA Investment Report for October 2020 Receive and file. File Type: Successor Consent Calendar City of Lake Elsinore Page 1 Printed on 111512020 CITY OF_., LAKE LS I I`�OI�E ` DREAM EXTREME, REPORT TO SUCCESSOR AGENCY BOARD OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE To: Honorable Agency Chairman and Members of the Successor Agency From: Grant Yates, Executive Director Prepared by: Nancy Lassey, Finance Administrator Approved by: Jason Simpson, Assistant Executive Director Date: November 10, 2020 Subject: Investment Report for October 2020 Recommendation Receive and file the Investment Report for October 2020. Background and Discussion The Investment Report is a listing of all funds invested for the City of Lake Elsinore and includes funds held for the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore as of the date shown on the report. Additionally, this report includes the City's Investment Performance Review for the Quarter Ended September 30, 2020. Fiscal Impact No fiscal impact. Exhibits A: Investment Report for October 2020 CITY OF 4 LADE (3:,2LSll-i0P,E rr � DREAM EXTREME- CITY ITY OF LAKE ELSINORE INVESTMENT REPORT CITY OF LAKE ELSINORE INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF OCTOBER 31, 2020 BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account $ 1,208,199 $ 233,090 $ (659,825) $ 781,464 Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 1,208,199 233,090 (659,825) 782,764 INVESTMENTS Local Agency Investment Fund 6,390,944 - - 6,390,944 CAMP Investments: CAMP Pool Account 50,688 - - 50,688 U.S. Treasury Bond / Note 11,542,905 - - 11,542,905 Supra - National Agency Bond / Note 399,700 - - 399,700 Municipal Bond / Note 1,004,846 - - 1,004,846 Federal Agency Collateralized Mortgage Obligation 766,118 - - 766,118 Federal Agency Bond / Note 4,438,996 - - 4,438,996 Corporate Notes 8,376,408 - - 8,376,408 Negotiable Certificate of Deposit 2,125,000 - - 2,125,000 Asset - Backed Security / Collaterized Mortgage 2,955,722 - - 2,955,722 Sub -total Investments 38,051,327 - - 38,051,327 Market Value Adjustment: Unrealized Gain /(Loss) at 09/30/2020 792,133 - - 792,133 Total Investments 38,843,460 - - 38,843,460 Total Pooled Cash and Investments $ 40,051,659 $ 233,090 $ (659,825) $ 39,626,224 TOTAL POOLED CASH AND INVESTMENTS $ 39,626,224 I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 23, 2020. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures Jason P. Simpson November 4, 2020 Assistant City Manager ate CITY OF LAKE ELSINORE POOLED CASH AND INVESTMENTS BY FUND AS OF OCTOBER 31, 2020 FUND NO FUND NAME 100 General 106 Affordable Housing In Lieu 107 Developer Agreement Revenue 109 Road Maintenance and Rehabilitation (SB1) 110 State Gas Tax 112 Measure A 114 SB1186 CASP Education Program 115 Traffic Safety 119 Animal Shelter DIF 121 T.R.I.P. -2014A 135 Lighting & Landscape Maintenance - Dist. No 140 Geothermal 155 CSA152 -- N.P.D.E.S. 160 PEG Grant 180 Launch Pointe 202 La Strada RBBD 203 E.L.S.P. - S.T.I.F. 205 Traffic Impact Fee 211 Storm Drain C.I.P. 221 Quimby Park C.I.P. 231 Library C.I.P. 232 City Fire Protection 300 Insurance Service 305 Information Systems Service 320 Facilities Service 332 CFD 2006 -1 Improvement Area B, Summerly 334 CFD 2015 -5 Trieste - Far West Industries 338 CFD 2006 -1 IA -JJ Summerly Improvement Area 346 CFD 2014 -1 Southshore 370 CFD 2006 -1 IA -HH Summerly Improvement 376 CFD 2006 -3 La Strada 377 CFD 2006 -6 Tessara 378 CFD 2006 -8 Running Deer Estates 384 CFD 2003 -2 Area B Canyon Hills Improvement Area 388 CFD 2007 -6 Holiday Inn Express 394 CFD 2005 -5 (2012A) Wasson Canyon 395 CFD 2018 -1 Wasson Canyon II Improvement Area 396 CFD 2018 -2 Nichols Ranch Improvement Area 500 Capital Improvement Plan 510 Successor To RDA Area I, 11, & I II 540 Successor To RDA Diamond Stadium AMOUNT 5,375,659 1,300,640 89,201 103,669 381,559 1,697,741 28,951 23,374 10,795 148 1,179, 921 11,844 407,014 37,576 170,047 24,155 3,117,672 1,150, 872 719,702 561,291 1,284,916 221,630 748,428 214,390 521,519 21,087 667 2,857 68,844 11,378 22,130 28,067 8,838 531,441 7,210 49,717 2,637 35,600 5,751,501 7,627,180 171,795 CITY OF LAKE ELSINORE POOLED CASH AND INVESTMENTS BY FUND AS OF OCTOBER 31, 2020 M iKin Kin M iKin KinnnG 603 Endowment Trust - Carl Graves 604 Endowment Trust - Korn Memorial 605 Public Improvement Trust 606 Mobile Source Air Polution Reduction 608 Trust Deposit & Pre Paid Expense 617 Successor Agency Housing 620 Cost Recovery System 631 Lake Destratification Equipment Replacement Total Pooled Cash & Investments AMOUNT 57,334 34,033 1,411,775 412,026 522,571 1,864,870 1,184, 041 415,910 $ 39,626,224 CITY OF LAKE ELSINORE SUMMARY OF POLICY LIMITATIONS FOR THE MONTH ENDING OCTOBER 31, 2020 LAIF (Local Agency Investment Fund) $75 Million 16.80% (2) $ 6,390,944 TOTAL 100.00% $ 38,051,327 Note: (1) No more than 40% in any one federal agency. See CAMP Portfolio Statement for listing of agencies. (2) Investment in LAIF may not exceed $75 million in each agency. MAXIMUM DIVERSIFICATION CURRENT TYPES OF SECURITIES PERCENTAGE PERCENTAGE BALANCE CAMP - Pooled Sweep Account Unlimited 0.13% $ 50,688 U.S. Treasury Bond / Note Unlimited 30.34% $ 11,542,905 Supra - National Agency Bond / Note 30% 1.05% $ 399,700 Municipal Bond / Note Unlimited 2.64% $ 1,004,846 Federal Agency Collaterized Mortgage Obligation 40.00% 2.01% $ 766,118 Federal Agency Bond / Note Unlimited 11.67% $ 4,438,996 Corporate Note 30.00% 22.01% $ 8,376,408 Negotiable Certificates of Deposit 30.00% 5.58% $ 2,125,000 Asset - Backed Security/ Collaterized Mortgage 20% 7.77% $ 2,955,722 LAIF (Local Agency Investment Fund) $75 Million 16.80% (2) $ 6,390,944 TOTAL 100.00% $ 38,051,327 Note: (1) No more than 40% in any one federal agency. See CAMP Portfolio Statement for listing of agencies. (2) Investment in LAIF may not exceed $75 million in each agency. CITY OF 4 LADE (3:,2LS11-iOP,E ,�V DREAM EXTREME- Local Agency Investment Fund CITY OF LAKE ELSINORE LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING OCTOBER 31, 2020 Yield Purchase Date 0.620% Daily Investment Beginning Balance Net Increase /(Decrease) Total Investments Held with Local Agency Investment Fund: $ 7,350,103 $ (959,160) Maturity Rate 24 -Hour Ending Balance $ 6,390,944 Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $75 million cap per agency. % %V FS r,yjF2f Cj IN VEq,� q T, PMIA /LAIF Performance Report o d s� o as of 11/04/20 as9� FlY- 11f1U165Y� i �od �'11�ll101S'� PMIA Average Monthly Quarterly Performance Effective Yields(') Quarter Ended 09/30/20 Oct 0.620 LAIF Apportionment Rate ( 2): 0.84 Sep 0.685 LAIF Earnings Ratio ( 2): 0.00002309407394024 Aug 0.784 LAIF Fair Value Factor(l): 1.004114534 PMIA Daily((): 0.65% PMIA Quarter to Date(1): 0.80% PMIA Average Life(1): 169 Pooled Money Investment Account Monthly Portfolio Composition c1) 09/30/20 $109.2 billion i ime Certificates of Deposit /Bank Notes 13.10% Agencies 18.42% Commercial Paper Loans 6.88% 0.64% Treasuries 56.44% Chart does not include 0.01% of mortgages. Percentages may not total 100% due to rounding. Daily rates are now available here. View PMIA Daily Rates Notes: The apportionment rate includes interest earned on the CaIPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) and interest earned on the Wildfire Fund loan pursuant to Public Utility Code 3288 (a). Source: Ill State of California, Office of the Treasurer Izl State of Calfiornia, Office of the Controller CITY OF 4 LADE (3:,2LS1HOP,E ,�V DREAM EXTREME- CAMP Investment Portfolio � r CALIJ — Account Statement - Transaction Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Opening Market Value 204,871.58 Purchases 744,203.22 Redemptions (898,387.06) Unsettled Trades 0.00 Change in Value 0.00 Closing Market Value $50,687.74 Cash Dividends and Income 26.38 Opening Market Value 32,019,062.10 Purchases 888,929.50 Redemptions (697,958.38) Unsettled Trades 140,000.00 Change in Value (76,752.22) Closing Market Value $32,273,281.00 Cash Dividends and Income 85,185.45 PFM Asset Management LLC CAMP Pool CAMP Managed Account Total CAMP Managed Account 99.84% For the Month Ending October 31, 2020 October 31, 2020 September 30, 2020 50,687.74 204,871.58 32,273,281.00 32,019,062.10 $32,323,968.74 $32,223,933.68 CAMP Pool 0.16% Page 1 C,W � r J — Managed Account Summary Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Opening Market Value Purchases Redemptions Closing Market Value Dividend $204,871.58 744,203.22 (898,387.06) $50,687.74 26.38 Interest /Dividends /Coupons Received Less Purchased Interest Related to Interest /Coupons Plus Net Realized Gains /Losses Total Cash Basis Earninas Ending Amortized Value of Securities Ending Accrued Interest Plus Proceeds from Sales Plus Proceeds of Maturities /Calls /Principal Payments Plus Coupons /Dividends Received Less Cost of New Purchases Less Beginning Amortized Value of Securities Less Beginning Accrued Interest Dividends Total Accrual Basis Earnings For the Month Ending October 31, 2020 Opening Market Value $32,019,062.10 Opening Market Value $32,223,933.68 Maturities /Calls (114,663.29) Principal Dispositions (583,295.09) Principal Acquisitions 888,929.50 Unsettled Trades 140,000.00 Change in Current Value (76,752.22) Closing Market Value $32,273,281.00 Closing Market Value $32,323,968.74 67,749.72 Closing Cash Balance $0.00 (4,116.88) 21,552.61 $85,185.45 31,572,675.21 31,623,362.95 Maturities /Calls 0.00 134,612.32 134,612.32 Sale Proceeds 588,030.83 588,030.83 1,486,417.89 Coupon /Interest /Dividend Income 63,013.98 114,663.29 114,663.29 Principal Payments 114,663.29 63,013.98 63,013.98 Security Purchases (893,046.38) (1,033,046.38) (1,777,249.60) Net Cash Contribution 127,338.29 (31,228,381.48) (31,433,253.06) Reconciling Transactions 0.00 (147,780.33) (147, 780.33) 0.00 26.38 $63,787.44 $63,813.82 PFM Asset Management LLC Page 2 � r J — Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Description Par Value Market Value Percent U.S. Treasury Bond / Note 11,325,000.00 11,911,786.41 36.84 Supra - National Agency Bond / Note 400,000.00 403,325.60 1.25 Municipal Bond / Note 1,000,000.00 1,013,389.05 3.14 Federal Agency Collateralized Mortgage 749,503.65 784,553.25 2.43 Obligation Federal Agency Bond / Note 4,450,000.00 4,441,771.33 13.74 Corporate Note 8,190,000.00 8,558,664.81 26.48 Certificate of Deposit 2,125,000.00 2,149,940.98 6.65 Asset - Backed Security 2,956,127.26 3,009,849.57 9.31 Managed Account Sub -Total 31,195,630.91 32,273,281.00 99.84% Accrued Interest 134,612.32 Total Portfolio 31,195,630.91 32,407,893.32 CAMP Pool 50,687.74 50,687.74 0.16 Total Investments 31,246,318.65 32,458,581.06 100.00% Unsettled Trades 30.94% 140,000.00 140,000.00 0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years US TSY Bond / 36. Supra - Natior Agency Bond / 1. Muni Bond / 3. Mny Mkt I 0. Fed Agy Bc Note 13.74% For the Month Ending October 31, 2020 ABS 9.31% Cert of Deposit 6.65% Yield to Maturity at Cost Corporate Note 26.48% Fed Agency CMO 41 1.65% Yield to Maturity at Market 0.68% Weighted Average Days to Maturity 1104 PFM Asset Management LLO Page 3 � r J - Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS PFM Asset Management LLC For the Month Ending October 31, 2020 NR Market Value 1.09% Issuer of Holdings Percent ABBOTT LABORATORIES 256,693.95 0.79 AMAZON.COM INC 479,269.78 1.48 AMERICAN EXPRESS CO 201,727.00 0.62 AMERICAN HONDA FINANCE 422,530.40 1.31 APPLE INC 560,495.65 1.73 BANK OF AMERICA CO 254,783.03 0.79 BMW FINANCIAL SERVICES NA LLC 302,610.48 0.94 BRISTOL -MYERS SQUIBB CO 143,324.75 0.44 CAMP Pool 50,687.74 0.16 CAPITAL ONE FINANCIAL CORP 820,697.28 2.55 CARMAX AUTO OWNER TRUST 618,904.04 1.91 CATERPILLAR INC 225,900.00 0.70 CHAFFEY CA JT UNION HS DIST 104,831.00 0.32 CHARLES SCHWAB 238,218.80 0.74 CITIGROUP INC 248,915.03 0.77 CREDIT SUISSE GROUP RK 250,327.75 0.77 DEERE & COMPANY 333,862.75 1.03 FANNIE MAE 815,243.33 2.53 FEDERAL HOME LOAN BANKS 500,180.35 1.55 FLORIDA ST HURRICAN CAT FUND 313,348.00 0.97 FREDDIE MAC 3,910,900.90 12.11 GENERAL DYNAMICS CORP 250,077.15 0.77 GM FINANCIAL AUTO LEASING TRUST 275,792.55 0.85 GM FINANCIAL SECURITIZED TERM 424,405.78 1.31 GOLDMAN SACHS GROUP INC 436,314.00 1.35 HERSHEY COMPANY 177,572.33 0.55 HONDA AUTO RECEIVABLES 311,593.35 0.96 IBM CORP 301,869.60 0.93 INTERNATIONAL FINANCE CORPORATION 403,325.60 1.25 JP MORGAN CHASE & CO 701,285.18 2.17 LOS ANGELES CA CMNTY CLG DIST 140,000.00 0.43 MINNESOTA ST 100,079.00 0.31 PFM Asset Management LLC For the Month Ending October 31, 2020 NR 8.07% 1.09% A+ BBB+ F4.71% 3.64% A- AAArn 9.32% 0.16% A -1 AAA 2.48% 10.18% AA- 1.81% L 2. 13% 1+ 2. AA AA+ 1.23% 55.18% Page 4 � r J — Managed Account Issuer Summary For the Month Ending October 31, 2020 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total $32,323,968.74 100.000/0 PFM Asset Management LLC Page 5 Market Value Issuer of Holdings Percent MORGAN STANLEY 440,963.20 1.36 NATIONAL RURAL UTILITIES CO FINANCE CORP 403,927.60 1.25 PACCAR FINANCIAL CORP 182,876.58 0.57 PEPSICO INC 281,887.48 0.87 PNC FINANCIAL SERVICES GROUP 435,037.60 1.35 ROYAL BANK OF CANADA 687,562.43 2.13 SAN JUAN UNIFIED SCHOOL DISTRICT 129,386.40 0.40 SKANDINAVISKA ENSKILDA BANKEN AB 411,448.40 1.27 STATE OF CONNECTICUT 140,488.80 0.43 STATE STREET CORPORATION 126,190.25 0.39 SWEDBANK AB 800,602.40 2.48 THE BANK OF NEW YORK MELLON CORPORATION 411,474.80 1.27 THE WALT DISNEY CORPORATION 414,883.20 1.28 TOYOTA MOTOR CORP 251,651.30 0.78 TRUIST FIN CORP 326,808.40 1.01 UNITED STATES TREASURY 11,911,786.41 36.86 UNIVERSITY OF CALIFORNIA 85,255.85 0.26 VOLKSWAGEN OF AMERICA 255,846.09 0.79 WELLS FARGO & COMPANY 50,125.00 0.16 Total $32,323,968.74 100.000/0 PFM Asset Management LLC Page 5 � r CALIJ — Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description S &P Moody's Trade Settle Original YTM Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 US TREASURY NOTES DTD 12/31/2015 1.750% 12/31/2020 US TREASURY N/B NOTES DTD 05/31/2016 1.625% 05/31/2023 US TREASURY NOTES DTD 10/31/2016 1.625% 10/31/2023 US TREASURY NOTES DTD 10/31/2016 1.625% 10/31/2023 US TREASURY N/B NOTES DTD 06/30/2017 2.000% 06/30/2024 US TREASURY N/B NOTES DTD 06/30/2017 2.000% 06/30/2024 US TREASURY N/B NOTES DTD 06/30/2017 2.000% 06/30/2024 US TREASURY N/B NOTES DTD 06/30/2017 2.000% 06/30/2024 US TREASURY N/B DTD 12/31/2019 1.750% 12/31/2024 US TREASURY N/B DTD 12/31/2019 1.750% 12/31/2024 Security Type Sub -Total For the Month Ending October 31, 2020 Accrued Amortized Market Interest Cost Value 912828A83 10,000.00 AA+ Aaa 03/30/16 03/31/16 10,502.34 2.51 80.03 10,017.36 10,035.94 912828N48 15,000.00 AA+ Aaa 05/27/16 05/31/16 15,268.94 2.24 88.45 15,009.63 15,039.84 912828869 2,450,000.00 AA+ Aaa 06/03/19 06/07/19 2,430,763.68 1.83 16,751.71 2,437,550.63 2,540,726.44 912828T91 1,000.000.00 AA+ Aaa 10/02/19 10/04/19 1,005.742.19 1.48 44.89 1,004,221.74 1,042.500.00 912828T91 1,650,000.00 AA+ Aaa 07/01/19 07/03/19 1,639,107.42 1.78 74.07 1,642,462.69 1,720,125.00 912828XX3 175,000.00 AA+ Aaa 11/01/19 11/06/19 178,541.01 1.55 1,179.35 177,788.18 186,074.21 912828XX3 325,000.00 AA+ Aaa 02/03/20 02/07/20 333.823.24 1.36 2,190.22 332,349.95 345,566.39 912828XX3 500,000.00 AA+ Aaa 03/02/20 03/06/20 524,355.47 0.85 3,369.56 520,648.87 531,640.60 912828XX3 2,700,000.00 AA+ Aaa 01/02/20 01/07/20 2,739,761.72 1.66 18,195.65 2,732,494.76 2,870,859.24 912828YYO 500,000.00 AA+ Aaa 08/05/20 08/07/20 534,414.06 0.18 2,948.37 532,572.36 529,843.75 912828YYO 2,000.000.00 AA+ Aaa 07/01/20 07/06/20 2,130,625.00 0.28 11,793.48 2,121,220.64 2,119.375.00 INTERNATIONAL FINANCE CORPORATION 45950VLO7 NOTE DTD 03/16/2018 2.635% 03/09/2021 11,325,000.00 11,542,905.07 1.34 56,715.78 11,526,336.81 11,911,786.41 50,000.00 AAA Aaa 03/09/18 03/16/18 49,962.50 2.97 190.31 49,995.59 50,415.70 PFM Asset Management LLC Page 6 � r CALIJ _ Mnnnnorl Aro-niinf Ilotnil of Coe -iiritioc 14xalel For the Month Endin4 October 31, 2020 5 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description S &P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value INTERNATIONAL FINANCE CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 INTERNATIONAL FINANCE CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 45950VLO7 45950VLO7 50,000.00 300,000.00 AAA AAA Aaa Aaa 03/09/18 03/09/18 03/16/18 03/16/18 49,962.50 299.775.00 2.97 2.66 190.31 1,141.83 49,995.59 299,973.55 50,415.70 302,494.20 Security Type Sub -Total Municipal Bond Note 400,000.00 399,700.00 2.74 1,522.45 399,964.73 403,325.60 / CT ST TXBL GO BONDS 20772KJWO 60,000.00 A Al 05/29/20 06/11/20 60,000.00 2.00 466.20 60,000.00 62,089.80 DTD 06/11/2020 1.998% 07/01/2024 CHAFFEY UHSD, CA TXBL GO BONDS 157411TK5 100,000.00 AA- Aal 11/06/19 12/05/19 100,000.00 2.10 525.25 100,000.00 104,831.00 DTD 12/05/2019 2.101% 08/01/2024 UNIV OF CAL TXBL REV BONDS 91412HGE7 85,000.00 AA Aa2 07/10/20 07/16/20 85,000.00 0.88 218.91 85,000.00 85,255.85 DTD 07/16/2020 0.883% 05/15/2025 CT ST T/E GO BONDS 20772KKK4 75,000.00 A Al 06/12/20 06/25/20 78,822.75 0.94 525.00 78,549.09 78,399.00 DTD 06/25/2020 2.000% 06/01/2025 FL ST BOARD OF ADMIN TXBL REV BONDS 341271AD6 65,000.00 AA Aa3 09/03/20 09/16/20 65,459.55 1.11 102.21 65,447.46 65,702.00 DTD 09/16/2020 1.258% 07/01/2025 FL ST BOARD OF ADMIN TXBL REV BONDS 341271AD6 85,000.00 AA Aa3 09/03/20 09/16/20 85,563.55 1.12 133.66 85,548.73 85,918.00 DTD 09/16/2020 1.258% 07/01/2025 FL ST BOARD OF ADMIN TXBL REV BONDS 341271AD6 160,000.00 AA Aa3 09/03/20 09/16/20 160,000.00 1.26 251.60 160,000.00 161,728.00 DTD 09/16/2020 1.258% 07/01/2025 MN ST TXBL GO BONDS 60412AVJ9 100,000.00 AAA Aal 08/11/20 08/25/20 100,000.00 0.63 115.50 100,000.00 100,079.00 DTD 08/25/2020 0.630% 08/01/2025 SAN JUAN USD, CA TXBL GO BONDS 798306WP7 130,000.00 NR Aa2 10/16/20 10/29/20 130.000.00 0.85 6.15 130,000.00 129,386.40 DTD 10/29/2020 0.852% 08/01/2025 LOS ANGELES CCD, CA TXBL GO BONDS 54438CYK2 140,000.00 AA+ Aaa 10/30/20 11/10/20 140,000.00 0.77 0.00 140,000.00 140,000.00 DTD 11/10/2020 0.7730/a 08/01/2025 PFM Asset Management LLC Page 7 � r CALIJ - M =n =nnel A#d-niinIF notmil of Cne- iiriiFinc 14niel For the Month Endin4 October 31, 2020 5 CITY OF LAKE ELSINORE - LAKE ELSINORE Security Type/ Description Dated Date /Coupon /Maturity CUSIP - CITY FUNDS S &P Par Rating Moody's Rating Trade Date Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market Value Security Type Sub -Total 1,000,000.00 1,004,845.85 1.13 2,344.48 1,004,545.28 1,013,389.05 Federal Agency Collateralized Mortgage Obligation FNA 2018 -M5 A2 3136B1XP4 16,342.64 AA+ Aaa 04/11/18 04/30/18 16,667.71 3.11 48.48 16,421.00 16,411.18 DTD 04/01/2018 3.560% 09/01/2021 FNA 2018 -M5 A2 3136B1XP4 16,342.64 AA+ Aaa 04/11/18 04/30/18 16,667.71 3.11 48.48 16,421.00 16,411.18 DTD 04/01/2018 3.560% 09/01/2021 FNA 2018 -M5 A2 3136B1XP4 81,713.18 AA+ Aaa 04/11/18 04/30/18 83,338.53 2.93 242.41 82,104.99 82,055.92 DTD 04/01/2018 3.560% 09/01/2021 FHLMC SERIES K721 A2 3137BM6P6 35,000.00 AA+ Aaa 04/04/18 04/09/18 35,298.05 3.08 90.12 35,120.73 36,032.04 DTD 12/01/2015 3.090% 08/01/2022 FHLMC SERIES K721 A2 3137BM6P6 35,000.00 AA+ Aaa 04/04/18 04/09/18 35,298.05 3.09 90.12 35,120.73 36,032.04 DTD 12/01/2015 3.090% 08/01/2022 FHLMC SERIES K721 A2 3137BM6P6 160,000.00 AA+ Aaa 04/04/18 04/09/18 161,362.50 2.88 412.00 160,551.92 164,717.89 DTD 12/01/2015 3.090% 08/01/2022 FHMS KP05 A 3137FKK39 55,080.18 AA+ Aaa 12/07/18 12/17/18 55,080.01 3.20 147.02 55,080.08 56,941.29 DTD 12/01/2018 3.203% 07/01/2023 FHMS KJ27 Al 3137FO3V3 100,025.02 AA+ Aaa 11/20/19 11/26/19 100,022.61 2.09 174.38 100,023.10 103,226.91 DTD 11/01/2019 2.092% 07/01/2024 FHMS K043 A2 3137BGK24 250,000.00 AA+ Aaa 03/19/20 03/25/20 262,382.81 1.95 637.92 260,784.33 272,724.80 DTD 03/01/2015 3.062% 12/01/2024 Security Type Sub -Total Federal Agency Bond / Note 749,503.65 766,117.98 2.51 1,890.93 761,627.88 784,553.25 FREDDIE MAC NOTES 3137EAEV7 900,000.00 AA+ Aaa 08/19/20 08/21/20 899,082.00 0.28 437.50 899,142.20 900,015.30 DTD 08/21/2020 0.250% 08/24/2023 FREDDIE MAC NOTES 3137EAEW5 375,000.00 AA+ Aaa 09/02/20 09/04/20 375,068.48 0.24 148.44 375,064.87 375,006.38 DTD 09/04/2020 0.250% 09/08/2023 FREDDIE MAC NOTES 3137EAEW5 525,000.00 AA+ Aaa 09/02/20 09/04/20 524,826.75 0.26 207.81 524,835.89 525,008.92 DTD 09/04/2020 0.250% 09/08/2023 PFM Asset Management LLC Page 8 � r CALIJ _ Mnnnnorl Aro-niinf Ilotnil of Coe -iiritioc 14xalel For the Month Endin4 October 31, 2020 5 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description S &P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date /Coupon /Maturity Federal Agency Bond / Note CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value FREDDIE MAC NOTES 3137EAEY1 325,000.00 AA+ Aaa 10/14/20 10/16/20 323,787.75 0.25 16.93 323,805.46 323,714.95 DTD 10/16/2020 0.125% 10/16/2023 FEDERAL HOME LOAN BANK NOTES 3130AJHU6 350,000.00 AA+ Aaa 04/15/20 04/16/20 348.264.00 0.60 82.64 348,453.40 350.881.30 DTD 04/16/2020 0.500% 04/14/2025 FANNIE MAE NOTES 3135G03U5 350,000.00 AA+ Aaa 04/22/20 04/24/20 349,279.00 0.67 54.69 349,354.50 352,821.00 DTD 04/24/2020 0.625% 04/22/2025 FREDDIE MAC NOTES 3137EAEU9 425,000.00 AA+ Aaa 07/21/20 07/23/20 422,883.50 0.48 433.85 423,000.70 422,469.98 DTD 07/23/2020 0.375% 07/21/2025 FANNIE MAE NOTES 3135G05X7 350,000.00 AA+ Aaa 08/25/20 08/27/20 348,362.00 0.47 233.33 348,421.27 347,544.05 DTD 08/27/2020 0.375% 08/25/2025 FEDERAL HOME LOAN BANK NOTES 3130AK5E2 150,000.00 AA+ Aaa 09/10/20 09/11/20 149,550.00 0.44 78.13 149,562.62 149,299.05 DTD 09/11/2020 0.375% 09/04/2025 FREDDIE MAC NOTES 3137EAEX3 700,000.00 AA+ Aaa 09/23/20 09/25/20 697,893.00 0.44 262.50 697,935.74 695,010.40 DTD 09/25/2020 0.375% 09/23/2025 Security Type Sub -Total Corporate 4,450,000.00 4,438,996.48 0.39 1,955.82 4,439,576.65 4,441,771.33 WELLS FARGO & COMPANY NOTES 94974BGR5 50,000.00 BBB+ A2 05/06/16 05/10/16 51,108.00 2.96 510.00 50,024.41 50,125.00 DTD 12/07/2015 2.550% 12/07/2020 BRANCH BANKING & TRUST (CALLABLE) 05531FAZ6 25,000.00 A- A3 10/23/17 10/26/17 24,988.50 3.00 134.38 24,999.11 25,063.00 NOTES DTD 10/26/2017 2.150% 02/01/2021 BRANCH BANKING & TRUST (CALLABLE) 05531FAZ6 25,000.00 A- A3 10/23/17 10/26/17 24,988.50 3.00 134.38 24,999.11 25,063.00 NOTES DTD 10/26/2017 2.150% 02/01/2021 BRANCH BANKING & TRUST (CALLABLE) 05531FAZ6 75,000.00 A- A3 10/23/17 10/26/17 74,965.50 2.17 403.13 74,997.34 75,189.00 NOTES DTD 10/26/2017 2.150% 02/01/2021 PFM Asset Management LLC Page 9 CALIJ� r _ M�n�norl Ar�n��nt Ilotnil of Coe���ritioc 1 -lolrl 5 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description S &P Moody's Trade Settle Original YTM Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost IBM CORP CORP NOTES DTD 02/06/2018 2.650% 02/05/2021 NATIONAL RURAL UTIL COOP NOTE DTD 02/26/2018 2.900% 03/15/2021 NATIONAL RURAL UTIL COOP NOTE DTD 02/26/2018 2.900% 03/15/2021 NATIONAL RURAL UTIL COOP NOTE DTD 02/26/2018 2.900% 03/15/2021 NATIONAL RURAL UTIL COOP NOTE DTD 02/26/2018 2.900% 03/15/2021 NATIONAL RURAL UTIL COOP NOTE DTD 02/26/2018 2.900% 03/15/2021 NATIONAL RURAL UTIL COOP NOTE DTD 02/26/2018 2.900% 03/15/2021 TOYOTA MOTOR CREDIT CORP NOTES DTD 04/13/2018 2.950% 04/13/2021 PEPSICO INC CORP (CALLABLE) NOTE DTD 10/10/2017 2.000% 04/15/2021 PEPSICO INC CORP (CALLABLE) NOTE DTD 10/10/2017 2.000% 04/15/2021 BANK OF NEW YORK MELLON CORP (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 BANK OF NEW YORK MELLON CORP (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 BANK OF NEW YORK MELLON CORP (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 For the Month Ending October 31, 2020 Accrued Amortized Market Interest Cost Value 44932HAG8 300,000.00 A A2 02/01/18 02/06/18 299,853.00 2.67 1,899.17 299,987.11 301,869.60 63743HER9 25,000.00 A A2 02/21/18 02/26/18 24,894.25 3.17 92.64 24,987.27 25,245.47 63743HER9 25,000.00 A A2 02/21/18 02/26/18 24,972.25 3.17 92.64 24,996.66 25,245.48 63743HER9 25,000.00 A A2 04/12/18 04/19/18 24,894.25 3.18 92.64 24,986.64 25,245.48 63743HER9 25,000.00 A A2 04/12/18 04/19/18 24,972.25 3.18 92.64 24,996.50 25,245.47 63743HER9 125,000.00 A A2 02/21/18 02/26/18 124,861.25 2.94 463.19 124,983.30 126,227.38 63743HER9 175,000.00 A A2 04/12/18 04/19/18 174,259.75 3.05 648.47 174,906.51 176,718.32 89236TEU5 50,000.00 A+ Al 04/10/18 04/13/18 49,980.00 3.05 73.75 49,997.03 50,587.10 713448DX3 40,000.00 A+ Al 10/05/17 10110117 39,992.00 2.78 35.56 39,998.97 40,269.64 713448DX3 40,000.00 A+ Al 10/05/17 10/10/17 39,992.00 2.78 35.56 39,998.97 40,269.64 06406FAA1 50,000.00 A Al 05/16/16 05/19/16 51,149.00 2.90 55.56 50,087.43 50,373.20 06406FAA1 50,000.00 A Al 05/16/16 05/19/16 51,149.00 2.90 55.56 50,087.43 50,373.20 06406FAA1 100,000.00 A Al 05/16/16 05/19/16 102,326.00 2.00 111.11 100,189.03 100.746.40 PFM Asset Management LLC Page 10 � r CALIJ _ Mnnnnorl Areniint Ilotnil of Coe -iiritioc 14olel For the Month Endin4 October 31, 2020 5 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description S &P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date /Coupon /Maturity CUSIP Corporate Par Rating Rating Date Date Cost at Cost Interest Cost Value PEPSICO INC CORP (CALLABLE) NOTE 713448DX3 200,000.00 A+ Al 10/05/17 10/10/17 199,960.00 2.01 177.78 199,994.86 201,348.20 DTD 10/10/2017 2.000% 04/15/2021 AMERICAN EXPRESS CREDIT (CALLABLE) 0258MOEB1 200,000.00 A- A2 05/25/16 05/31/16 199.536.00 2.30 2,200.00 199,952.31 201,727.00 NOTES DTD 05/05/2016 2.250% 05/05/2021 BRANCH BANKING & TRUST (CALLABLE) 05531FAV5 25,000.00 A- A3 05/10/16 05/16/16 24,983.50 2.78 243.44 24,998.28 25,186.68 NOTE DTD 05/10/2016 2.050% 05/10/2021 BRANCH BANKING & TRUST (CALLABLE) 05531FAV5 25,000.00 A- A3 05/10/16 05/16/16 24,983.50 2.78 243.44 24,998.28 25,186.67 NOTE DTD 05/10/2016 2.050% 05/10/2021 BRANCH BANKING & TRUST (CALLABLE) 05531FAV5 150,000.00 A- A3 05/10/16 05/16/16 149,901.00 2.06 1,460.63 149,989.66 151,120.05 NOTE DTD 05/10/2016 2.050% 05/10/2021 HERSHEY COMPANY CORP NOTES 427866BA5 25,000.00 A Al 05/03/18 05/10/18 24,982.75 3.09 357.36 24,996.94 25,367.48 DTD 05/10/2018 3.100% 05/15/2021 HERSHEY COMPANY CORP NOTES 427866BA5 25,000.00 A Al 05/03/18 05/10/18 24,982.75 3.09 357.36 24,996.94 25,367.48 DTD 05/10/2018 3.100% 05/15/2021 HERSHEY COMPANY CORP NOTES 427866BA5 125,000.00 A Al 05/03/18 05/10/18 124,913.75 3.12 1,786.81 124,984.72 126,837.37 DTD 05/10/2018 3.100% 05/15/2021 STATE STREET CORP NOTES 857477AV5 25,000.00 A Al 05/19/16 05/24/16 24,905.50 2.64 219.38 24,989.67 25,238.05 DTD 05/19/2016 1.950% 05/19/2021 STATE STREET CORP NOTES 857477AV5 25,000.00 A Al 05/19/16 05/24/16 24,905.50 2.64 219.38 24,989.67 25,238.05 DTD 05/19/2016 1.950% 05/19/2021 STATE STREET CORP NOTES 857477AV5 75,000.00 A Al 05/19/16 05/24/16 74,716.50 2.03 658.13 74,969.02 75,714.15 DTD 05/19/2016 1.950% 05/19/2021 CHARLES SCHWAB CORP NOTES 808513AW5 35,000.00 A A2 05/17/18 05/22/18 34,998.95 3.18 505.55 34,999.81 35,479.40 DTD 05/22/2018 3.250% 05/21/2021 CHARLES SCHWAB CORP NOTES 808513AW5 200,000.00 A A2 05/17/18 05/22/18 199,994.00 3.25 2,888.89 199,998.90 202,739.40 DTD 05/22/2018 3.250% 05/21/2021 PFM Asset Management LLC Page 11 CALIJ� r _ M�n�norl Ar�n��nt Ilotnil of Coe���ritioc 1 -lolrl 5 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description S &P Moody's Trade Settle Original YTM Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost JOHN DEERE CAPITAL CORP NOTES 24422ETL3 DTD 01/06/2017 2.650% 01/06/2022 03/10/17 JOHN DEERE CAPITAL CORP NOTES 24422ETL3 DTD 01/06/2017 2.650% 01/06/2022 423.26 JPMORGAN CHASE & CO BONDS 46647PBB1 DTD 03/22/2019 3.207% 04/01/2023 A CATERPILLAR FINL SERVICE CORPORATE 14913R2D8 NOTES 273,787.25 DTD 07/08/2020 0.650% 07/07/2023 2,327.96 TOYOTA MOTOR CREDIT CORP CORPORATE 89236THF5 NOTES A- DTD 08/14/2020 0.500% 08/14/2023 03/15/19 PNC BANK NA CORP NOTES 693475AV7 DTD 01/23/2019 3.500% 01/23/2024 1,803.94 MORGAN STANLEY CORP NOTES 61746BDO6 DTD 04/28/2014 3.875% 04/29/2024 A AMERICAN HONDA FINANCE CORP NOTE 02665WCZ2 DTD 06/27/2019 2.400% 06/27/2024 224,874.00 GOLDMAN SACHS GROUP INC BONDS 38141EC23 DTD 07/08/2014 3.850% 07/08/2024 225,900.00 WALT DISNEY COMPANY /THE 254687FK7 DTD 09/06/2019 1.750% 08/30/2024 08/11/20 BANK OF NY MELLON CORP 06406RAL1 DTD 10/24/2019 2.100% 10/24/2024 213.89 PACCAR FINANCIAL CORP CORPORATE 69371RO66 NOTES A- DTD 02/06/2020 1.800% 02/06/2025 02/12/19 CITIGROUP INC CORP NOTES 172967JP7 DTD 04/27/2015 3.300% 04/27/2025 3,811.11 For the Month Ending October 31, 2020 Accrued Amortized Market Interest Cost Value 50,000.00 A A2 03/10/17 03/15/17 49,779.50 3.04 423.26 49,945.94 51,363.50 275,000.00 A A2 03/10/17 03/15/17 273,787.25 2.75 2,327.96 274,702.68 282,499.25 675,000.00 A- A2 03/15/19 03/22/19 675,000.00 3.21 1,803.94 675,000.00 701,285.18 225,000.00 A A3 07/06/20 07/08/20 224,874.00 0.67 459.06 224,887.36 225,900.00 200,000.00 A+ Al 08/11/20 08/14/20 199,846.00 0.53 213.89 199,857.11 201,064.20 400,000.00 A- A3 02/12/19 02/15/19 402,848.00 3.34 3,811.11 401,860.76 435,037.60 400,000.00 BBB+ A2 07/19/19 07/23/19 422,916.00 2.59 86.11 416,772.62 440,963.20 400,000.00 A- A3 07/11/19 07/15/19 398.016.00 2.51 3,306.67 398,536.95 422,530.40 400,000.00 BBB+ A3 07/08/19 07/11/19 418,632.00 2.84 4,833.89 413,739.06 436,314.00 400,000.00 A- A2 09/03/19 09/06/19 398,368.00 1.84 1,186.11 398,746.41 414,883.20 200,000.00 A Al 01/21/20 01/28/20 200,880.00 2.00 81.67 200,738.67 209,982.00 175,000.00 A+ Al 10/22/20 10/29/20 182,894.25 0.73 743.75 182,879.08 182,876.58 225,000.00 BBB+ A3 08/28/20 09/01/20 249,738.75 0.88 82.50 248,850.54 248,915.03 PFM Asset Management LLC Page 12 � r CALIJ _ Mnnnnorl Areniinf Ilotnil of Cxariiritioc 14xalel 5 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description S &P Moody's Trade Settle Original YTM Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost APPLE INC (CALLABLE) CORP NOTES DTD 05/11/2020 1.125% 05/11/2025 GENERAL DYNAMICS CORP DTD 05/11/2018 3.500% 05/15/2025 AMAZON.COM INC CORPORATE NOTES DTD 06/03/2020 0.800% 06/03/2025 BANK OF AMERICA CORP NOTES DTD 07/30/2015 3.875% 08/01/2025 BRISTOL -MYERS SQUIBB CO CORPORATE NOTES DTD 07/15/2020 3.875% 08/15/2025 ABBOTT LABORATORIES CORPORATE NOTES (CAL DTD 03/22/2017 3.875% 09/15/2025 For the Month Ending October 31, 2020 Accrued Amortized Market Interest Cost Value 037833DT4 550,000.00 AA+ Aa1 05/11/20 05/13/20 551,105.50 1.08 2,921.88 550,999.51 560,495.65 369550BG2 225,000.00 A A2 10/16/20 10/20/20 252.247.50 0.80 3,631.25 252,051.47 250.077.15 023135BO8 475,000.00 AA- A2 06/03/20 06/05/20 474,767.25 0.81 1,562.22 474,786.26 479,269.78 06051GFS3 225,000.00 A- A2 08/18/20 08/20/20 256,918.50 0.93 2,179.69 255,629.04 254,783.03 110122DC9 125,000.00 A+ A2 09/29/20 09/30/20 142,835.00 0.88 1,022.57 142,496.90 143,324.75 002824BM1 225,000.00 A- A3 09/24/20 09/28/20 257,845.50 0.86 1,114.06 257,196.61 256.693.95 Security Type Sub -Total 8,190,000.00 8,376,408.20 2.10 48,040.12 8,359,758.85 8,558,664.81 Deposit Certificate of SWEDBANK (NEW YORK) CERT DEPOS 87019U6D6 100,000.00 A -1 P -1 11/16/17 11/17/17 100,000.00 3.01 1,053.03 100,000.00 100,075.30 DTD 11/17/2017 2.270% 11/16/2020 SWEDBANK (NEW YORK) CERT DEPOS 87019U6D6 100,000.00 A -1 P -1 11/16/17 11/17/17 100,000.00 3.01 1,053.03 100,000.00 100,075.30 DTD 11/17/2017 2.270% 11/16/2020 SWEDBANK (NEW YORK) CERT DEPOS 87019U6D6 600,000.00 A -1 P -1 11/16/17 11/17/17 600,000.00 2.27 6,318.17 600,000.00 600,451.80 DTD 11/17/2017 2.270% 11/16/2020 ROYAL BANK OF CANADA NY CD 78012UEE1 50,000.00 A -1+ P -1 06/07/18 06/08/18 50,000.00 2.98 648.00 50,000.00 50,930.55 DTD 06/08/2018 3.240% 06/07/2021 ROYAL BANK OF CANADA NY CD 78012UEE1 100,000.00 A -1+ P -1 06/07/18 06/08/18 100.000.00 2.98 1,296.00 100,000.00 101,861.10 DTD 06/08/2018 3.240% 06/07/2021 ROYAL BANK OF CANADA NY CD 78012UEE1 525,000.00 A -1+ P -1 06/07/18 06/08/18 525,000.00 3.24 6,804.00 525,000.00 534,770.78 DTD 06/08/2018 3.240% 06/07/2021 PFM Asset Management LLC Page 13 � r CALIJ _ Mnnnnorl Aro-niinf Ilotnil of Coe -iiritioc 14xalel For the Month Endin4 October 31, 2020 5 CITY OF LAKE ELSINORE - LAKE ELSINORE Security Type/ Description Dated Date /Coupon /Maturity CUSIP Deposit Certificate of CREDIT SUISSE NEW YORK CERT DEPOS 22549L6F7 DTD 08/07/2020 0.520% 02/01/2022 SKANDINAV ENSKILDA BANK LT CD 83050PDR7 DTD 09/03/2019 1.860% 08/26/2022 - CITY FUNDS S &P Par Rating 250,000.00 A+ 400,000.00 A+ Moody's Rating Al Aa2 Trade Date 08/05/20 08/29/19 Settle Date 08/07/20 09/03/19 Original Cost 250,000.00 400.000.00 YTM at Cost 0.52 1.85 Accrued Interest 310.56 1,384.67 Amortized Cost 250,000.00 400,000.00 Market Value 250,327.75 411,448.40 Security Type Sub -Total Asset-Backed Security 2,125,000.00 2,125,000.00 2.35 18,867.46 2,125,000.00 2,149,940.98 BMWLT 2018 -1 A4 05586CAD6 300,000.00 AAA Aaa 10/10/18 10/17/18 299,997.33 3.36 308.00 299,998.92 302,610.48 DTD 10/17/2018 3.360% 03/20/2022 GMALT 2018 -3 A4 36256GAE9 275,000.00 AAA Aaa 09/18/18 09/26/18 274,964.97 3.30 277.29 274,984.26 275,792.55 DTD 09/26/2018 3.300% 07/20/2022 HAROT 2018 -4 A3 43815AAC6 306,301.86 AAA Aaa 11/20/18 11/28/18 306,256.07 3.16 430.18 306,277.43 311,593.35 DTD 11/28/2018 3.160% 01/15/2023 VALET 2018 -2 A3 92869BAD4 251,010.25 AAA Aaa 11/15/18 11/21/18 250,999.71 3.25 249.27 251,004.36 255,846.09 DTD 11/21/2018 3.250% 04/20/2023 GMCAR 2018 -3 A3 36255JAD6 198,623.25 AAA NR 07/11/18 07/18/18 198,576.93 3.03 249.93 198,598.92 201,597.63 DTD 07/18/2018 3.020% 05/16/2023 CARMAX AUTO OWNER TRUST 14313FAD1 266,471.23 AAA NR 07/18/18 07/25/18 266,434.92 3.13 370.69 266,451.79 271,328.28 DTD 07/25/2018 3.130% 06/15/2023 CARMAX AUTO OWNER TRUST 14315EAC4 339,814.07 AAA NR 10/17/18 10/24/18 339,810.94 3.36 507.46 339,812.23 347,575.76 DTD 10/24/2018 3.360% 09/15/2023 GMCAR 2019 -1 A3 36256XAD4 218,906.60 NR Aaa 01/08/19 01/16/19 218,882.36 2.97 270.90 218,891.36 222,808.15 DTD 01/16/2019 2.970% 11/16/2023 COMET 2019 -A2 A2 14041NFUO 800,000.00 AAA NR 08/28/19 09/05/19 799.798.56 1.73 611.56 799,845.74 820,697.28 DTD 09/05/2019 1.720% 08/15/2024 Security Type Sub -Total 2,956,127.26 2,955,721.79 2.81 3,275.28 2,955,865.01 3,009,849.57 Managed Account Sub -Total 31,195,630.91 31,609,695.37 1.65 134,612.32 31,572,675.21 32,273,281.00 PFM Asset Management LLC Page 14 � r CALIJ _ Mnnnnorl Aro-niint Ilotnil of Coe -iiritioc 14xalel For the Month Endin4 October 31, 2020 5 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description S &P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date /Coupon /Maturity CUSIP Money Market Mutual Fund Par Rating Rating Date Date Cost at Cost Interest Cost Value CAMP Pool 50,687.74 AAAm NR 50,687.74 0.00 50,687.74 50,687.74 Money Market Sub -Total 50,687.74 50,687.74 0.00 50,687.74 50,687.74 Securities Sub -Total $31,246,318.65 $31,660,383.11 1.65% $134,612.32 $31,623,362.95 $32,323,968.74 Accrued Interest $134,612.32 Total Investments $32,458,581.06 Bolded items are forward settling trades PFM Asset Management LLC Page 15 � r � CAE1J__F___ Mnnnnnrl Airemint emir Mmrlrot Vnimm IL Annhitirc For the Month Endin4 October 31, 2020 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Dated Date /Coupon /Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost Duration at Mkt US TREASURY NOTES 912828A83 10.000.00 MERRILL 100.36 10,035.94 (466.40) 18.58 0.17 0.20 DTD 12/31/2013 2.375% 12/31/2020 US TREASURY NOTES 912828N48 15.000.00 MORGANST 100.27 15,039.84 (229.10) 30.21 0.17 0.15 DTD 12/31/2015 1.750% 12/31/2020 US TREASURY N/B NOTES 912828R69 2,450,000.00 MORGANSS 103.70 2,540,726.44 109,962.76 103,175.81 2.53 0.19 DTD 05/31/2016 1.625% 05/31/2023 US TREASURY NOTES 912828T91 1,000,000.00 BNP_PARI 104.25 1,042,500.00 36,757.81 38,278.26 2.92 0.20 DTD 10/31/2016 1.625% 10/31/2023 US TREASURY NOTES 912828T91 1,650,000.00 MERRILL 104.25 1,720,125.00 81,017.58 77,662.31 2.92 0.20 DTD 10/31/2016 1.625% 10/31/2023 US TREASURY N/B NOTES 912828XX3 175,000.00 MORGANSS 106.33 186,074.21 7,533.20 8,286.03 3.54 0.26 DTD 06/30/2017 2.000% 06/30/2024 US TREASURY N/B NOTES 912828XX3 325,000.00 HSBC 106.33 345,566.39 11,743.15 13,216.44 3.54 0.26 DTD 06/30/2017 2.000% 06/30/2024 US TREASURY N/B NOTES 912828XX3 500,000.00 HSBC 106.33 531,640.60 7,285.13 10,991.73 3.54 0.26 DTD 06/30/2017 2.000% 06/30/2024 US TREASURY N/B NOTES 912828XX3 2,700,000.00 HSBC 106.33 2,870,859.24 131,097.52 138,364.48 3.54 0.26 DTD 06/30/2017 2.000% 06/30/2024 US TREASURY N/B 912828YYO 500,000.00 WELLS _F 105.97 529,843.75 (4,570.31) (2,728.61) 4.02 0.31 DTD 12/31/2019 1.750% 12/31/2024 US TREASURY N/B 912828YYO 2,000,000.00 WELLS _F 105.97 2,119,375.00 (11,250.00) (1,845.64) 4.02 0.31 DTD 12/31/2019 1.750% 12/31/2024 Security Type Sub -Total 11,325,000.00 11,911,786.41 368,881.34 385,449.60 3.28 0.24 INTERNATIONAL FINANCE CORPORATION 45950VLO7 50,000.00 HSBC 100.83 50,415.70 453.20 420.11 0.36 0.31 NOTE DTD 03/16/2018 2.635% 03/09/2021 INTERNATIONAL FINANCE CORPORATION 45950VLO7 50,000.00 HSBC 100.83 50,415.70 453.20 420.11 0.36 0.31 NOTE DTD 03/16/2018 2.635% 03/09/2021 PFM Asset Management LLC Page 16 � r � CAE1j__F___ Mnnnnnrl Airnmint emir Mmr4ot Vnimm IL Annhhirc For the Month Endin4 October 31, 2020 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Dated Date /Coupon /Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost Duration at Mkt INTERNATIONAL FINANCE CORPORATION 45950VLO7 300,000.00 HSBC 100.83 302,494.20 2,719.20 2,520.65 0.36 0.31 NOTE DTD 03/16/2018 2.635% 03/09/2021 Security Type Sub -Total 400,000.00 403,325.60 3,625.60 3,360.87 0.36 0.31 CT ST TXBL GO BONDS DTD 06/11/2020 1.998% 07/01/2024 CHAFFEY UHSD, CA TXBL GO BONDS DTD 12/05/2019 2.101% 08/01/2024 UNIV OF CAL TXBL REV BONDS DTD 07/16/2020 0.883% 05/15/2025 CT ST T/E GO BONDS DTD 06/25/2020 2.000% 06/01/2025 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 MN ST TXBL GO BONDS DTD 08/25/2020 0.630% 08/01/2025 SAN JUAN USD, CA TXBL GO BONDS DTD 10/29/2020 0.852% 08/01/2025 LOS ANGELES CCD, CA TXBL GO BONDS DTD 11/10/2020 0.7730/a Security Type Sub -Total PFM Asset Management LLC 20772KJW0 60,000.00 SIEBERT 103.48 62,089.80 2,089.80 2,089.80 3.53 1.03 157411TK5 100,000.00 RBC 104.83 104,831.00 4,831.00 4,831.00 3.61 0.79 91412HGE7 85,000.00 JPM_CHA 04/15/25 100.30 85,255.85 255.85 255.85 4.45 0.82 20772KKK4 75,000.00 MORGAN_ 104.53 78,399.00 (423.75) (150.09) 4.38 0.99 341271AD6 65,000.00 MERRILL 101.08 65,702.00 242.45 254.54 4.54 1.02 341271AD6 85,000.00 MERRILL 101.08 85,918.00 354.45 369.27 4.54 1.02 341271AD6 160,000.00 MERRILL 101.08 161,728.00 1,728.00 1,728.00 4.54 1.02 60412AV19 100,000.00 MORGAN_ 100.08 100,079.00 79.00 79.00 4.68 0.61 798306WP7 130,000.00 KEYBANC 99.53 129,386.40 (613.60) (613.60) 4.67 0.95 54438CYK2 140,000.00 MERRILL 100.00 140,000.00 0.00 0.00 4.68 0.77 1,000,000.00 1,013,389.05 8,543.20 8,843.77 4.41 0.89 Page 17 � F- � CAE1J__F___ Mnnnnnrl Airemint emir Mmrlrot Vnimm IL Annhitirc For the Month Endin4 October 31, 2020 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Dated Date /Coupon /Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost Duration at Mkt FNA 2018 -M5 A2 3136B1XP4 16,342.64 3PM_CHAS 100.42 16,411.18 (256.53) (9.82) 0.45 3.05 DTD 04/01/2018 3.560% 09/01/2021 FREDDIE MAC NOTES 3137EAEW5 FNA 2018 -M5 A2 3136B1XP4 16,342.64 3PM_CHAS 100.42 16,411.18 (256.53) (9.82) 0.45 3.05 DTD 04/01/2018 3.560% 09/01/2021 FREDDIE MAC NOTES 3137EAEW5 525,000.00 WELLS_F 100.00 FNA 2018 -M5 A2 3136B1XP4 81,713.18 3PM_CHAS 100.42 82,055.92 (1,282.61) (49.07) 0.45 3.05 DTD 04/01/2018 3.560% 09/01/2021 FREDDIE MAC NOTES 3137EAEY1 325,000.00 WELLS_F 99.60 323,714.95 (72.80) FHLMC SERIES K721 A2 3137BM6P6 35,000.00 CITIGRP 102.95 36,032.04 733.99 911.31 1.58 1.39 DTD 12/01/2015 3.090% 08/01/2022 FEDERAL HOME LOAN BANK NOTES 3130A)HU6 350,000.00 CITIGRP 100.25 350,881.30 2,617.30 2,427.90 4.41 FHLMC SERIES K721 A2 3137BM6P6 35,000.00 CITIGRP 102.95 36,032.04 733.99 911.31 1.58 1.39 DTD 12/01/2015 3.090% 08/01/2022 3135G03U5 350,000.00 CITIGRP 100.81 352,821.00 3,542.00 3,466.50 4.42 0.44 DTD 04/24/2020 0.625% 04/22/2025 FHLMC SERIES K721 A2 3137BM6P6 160,000.00 CITIGRP 102.95 164,717.89 3,355.39 4,165.97 1.58 1.39 DTD 12/01/2015 3.090% 08/01/2022 FHMS KP05 A 3137FKK39 55,080.18 CSFB 103.38 56,941.29 1,861.28 1,861.21 1.62 1.90 DTD 12/01/2018 3.203% 07/01/2023 FHMS KJ27 Al 3137FO3V3 100,025.02 3PM_CHAS 103.20 103,226.91 3,204.30 3,203.81 2.29 1.20 DTD 11/01/2019 2.092% 07/01/2024 FHMS K043 A2 3137BGK24 250,000.00 CITIGRP 109.09 272,724.80 10,341.99 11,940.47 3.84 0.80 DTD 03/01/2015 3.062% 12/01/2024 Security Type Sub -Total 749,503.65 784,553.25 18,435.27 22,925.37 2.29 1.44 FREDDIE MAC NOTES 3137EAEV7 900,000.00 CITIGRP 100.00 900,015.30 933.30 873.10 2.81 0.25 DTD 08/21/2020 0.250% 08/24/2023 FREDDIE MAC NOTES 3137EAEW5 375,000.00 NOMURA 100.00 375,006.38 (62.10) (58.49) 2.85 0.25 DTD 09/04/2020 0.250% 09/08/2023 FREDDIE MAC NOTES 3137EAEW5 525,000.00 WELLS_F 100.00 525,008.92 182.17 173.03 2.85 0.25 DTD 09/04/2020 0.250% 09/08/2023 FREDDIE MAC NOTES 3137EAEY1 325,000.00 WELLS_F 99.60 323,714.95 (72.80) (90.51) 2.96 0.26 DTD 10/16/2020 0.125% 10/16/2023 FEDERAL HOME LOAN BANK NOTES 3130A)HU6 350,000.00 CITIGRP 100.25 350,881.30 2,617.30 2,427.90 4.41 0.44 DTD 04/16/2020 0.500% 04/14/2025 FANNIE MAE NOTES 3135G03U5 350,000.00 CITIGRP 100.81 352,821.00 3,542.00 3,466.50 4.42 0.44 DTD 04/24/2020 0.625% 04/22/2025 PFM Asset Management LLC Page 18 � r � CAE1J__F___ Mnnnnnrl Airemint emir MmAot Vnimm IL Annhitirc For the Month Endin4 October 31, 2020 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Dated Date /Coupon /Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost Duration at Mkt FREDDIE MAC NOTES 3137EAEU9 425,000.00 WELLS _F 99.40 422,469.98 (413.52) (530.72) 4.68 0.50 DTD 07/23/2020 0.375% 07/21/2025 25,000.00 MORGAN_S 01/01/21 100.25 25,063.00 74.50 63.89 0.17 1.14 FANNIE MAE NOTES 3135G05X7 350,000.00 BARCLAY 99.30 347,544.05 (817.95) (877.22) 4.78 0.52 DTD 08/27/2020 0.375% 08/25/2025 75,000.00 MORGAN_S 01/01/21 100.25 75,189.00 223.50 191.66 0.17 1.14 FEDERAL HOME LOAN BANK NOTES 3130AK5E2 150,000.00 WELLS _F 99.53 149,299.05 (250.95) (263.57) 4.80 0.47 DTD 09/11/2020 0.375% 09/04/2025 25,000.00 RBC 100.98 25,245.47 351.22 258.20 0.38 0.28 FREDDIE MAC NOTES 3137EAEX3 700,000.00 CITIGRP 99.29 695,010.40 (2,882.60) (2,925.34) 4.86 0.52 DTD 09/25/2020 0.375% 09/23/2025 25,000.00 RBC 100.98 25,245.48 351.23 258.84 0.38 0.28 Security Type Sub -Total 4,450,000.00 4,441,771.33 2,774.85 2,194.68 3.80 0.38 WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 BRANCH BANKING & TRUST (CALLABLE) NOTES DTD 10/26/2017 2.150% 02/01/2021 BRANCH BANKING & TRUST (CALLABLE) NOTES DTD 10/26/2017 2.150% 02/01/2021 BRANCH BANKING & TRUST (CALLABLE) NOTES DTD 10/26/2017 2.150% 02/01/2021 IBM CORP CORP NOTES DTD 02/06/2018 2.650% 02/05/2021 NATIONAL RURAL UTIL COOP NOTE DTD 02/26/2018 2.900% 03/15/2021 NATIONAL RURAL UTIL COOP NOTE DTD 02/26/2018 2.900% 03/15/2021 NATIONAL RURAL UTIL COOP NOTE DTD 02/26/2018 2.900% 03/15/2021 NATIONAL RURAL UTIL COOP NOTE DTD 02/26/2018 2.900% 03/15/2021 PFM Asset Management LLC 94974BGR5 50,000.00 UBS AG 100.25 50,125.00 (983.00) 100.59 0.10 0.12 05531FAZ6 25,000.00 MORGAN_S 01/01/21 100.25 25,063.00 74.50 63.89 0.17 1.14 05531FAZ6 25,000.00 MORGAN_S 01/01/21 100.25 25,063.00 74.50 63.89 0.17 1.14 05531FAZ6 75,000.00 MORGAN_S 01/01/21 100.25 75,189.00 223.50 191.66 0.17 1.14 44932HAG8 300,000.00 BNP_PARI 100.62 301,869.60 2,016.60 1,882.49 0.26 0.28 63743HER9 25,000.00 RBC 100.98 25,245.47 351.22 258.20 0.38 0.28 63743HER9 25,000.00 RBC 100.98 25,245.48 273.23 248.82 0.38 0.28 63743HER9 25,000.00 RBC 100.98 25,245.48 351.23 258.84 0.38 0.28 63743HER9 25,000.00 RBC 100.98 25,245.47 273.22 248.97 0.38 0.28 Page 19 � r � Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending October 31, 2020 Security Type/ Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Dated Date /Coupon /Maturity Corporate CUSIP Par Broker Date Price Value On Cost Amort Cost Duration at Mkt NATIONAL RURAL UTIL COOP NOTE 63743HER9 125,000.00 RBC 100.98 126,227.38 1,366.13 1,244.08 0.38 0.28 DTD 02/26/2018 2.900% 03/15/2021 NATIONAL RURAL UTIL COOP NOTE 63743HER9 175,000.00 RBC 100.98 176,718.32 2,458.57 1,811.81 0.38 0.28 DTD 02/26/2018 2.900% 03/15/2021 TOYOTA MOTOR CREDIT CORP NOTES 89236TEU5 50,000.00 JPM_CHAS 101.17 50,587.10 607.10 590.07 0.45 0.35 DTD 04/13/2018 2.950% 04/13/2021 PEPSICO INC CORP (CALLABLE) NOTE 713448DX3 40,000.00 MERRILL 03/15/21 100.67 40,269.64 277.64 270.67 0.38 0.53 DTD 10/10/2017 2.000% 04/15/2021 PEPSICO INC CORP (CALLABLE) NOTE 713448DX3 40,000.00 MERRILL 03/15/21 100.67 40,269.64 277.64 270.67 0.38 0.53 DTD 10/10/2017 2.000% 04/15/2021 BANK OF NEW YORK MELLON CORP 06406FAA1 50,000.00 KEYBAN 03/15/21 100.75 50,373.20 (775.80) 285.77 0.37 0.86 (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 BANK OF NEW YORK MELLON CORP 06406FAA1 50,000.00 KEYBAN 03/15/21 100.75 50,373.20 (775.80) 285.77 0.37 0.86 (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 BANK OF NEW YORK MELLON CORP 06406FAA1 100,000.00 KEYBAN 03/15/21 100.75 100,746.40 (1,579.60) 557.37 0.37 0.86 (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 PEPSICO INC CORP (CALLABLE) NOTE 713448DX3 200,000.00 MERRILL 03/15/21 100.67 201,348.20 1,388.20 1,353.34 0.38 0.53 DTD 10/10/2017 2.000% 04/15/2021 AMERICAN EXPRESS CREDIT (CALLABLE) 0258MOEB1 200,000.00 KEYBAN 04/04/21 100.86 201,727.00 2,191.00 1,774.69 0.42 0.56 NOTES DTD 05/05/2016 2.250% 05/05/2021 BRANCH BANKING & TRUST (CALLABLE) 05531FAV5 25,000.00 SCOTIA 04/09/21 100.75 25,186.68 203.18 188.40 0.44 0.63 NOTE DTD 05/10/2016 2.050% 05/10/2021 BRANCH BANKING & TRUST (CALLABLE) 05531FAV5 25,000.00 SCOTIA 04/09/21 100.75 25,186.67 203.17 188.39 0.44 0.63 NOTE DTD 05/10/2016 2.050% 05/10/2021 BRANCH BANKING & TRUST (CALLABLE) 05531FAV5 150,000.00 SCOTIA 04/09/21 100.75 151,120.05 1,219.05 1,130.39 0.44 0.63 NOTE DTD 05/10/2016 2.050% 05/10/2021 PFM Asset Management LLC Page 20 � r � CALIJ--F--- Mnnnnnrl Airemint 1;nir Mnrlrot- Vnlno IL Annhitirc CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description Next Call Market Market Dated Date /Coupon /Maturity CUSIP Par Broker Date Price Value HERSHEY COMPANY CORP NOTES DTD 05/10/2018 3.100% 05/15/2021 HERSHEY COMPANY CORP NOTES DTD 05/10/2018 3.100% 05/15/2021 HERSHEY COMPANY CORP NOTES DTD 05/10/2018 3.100% 05/15/2021 STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 CHARLES SCHWAB CORP NOTES DTD 05/22/2018 3.250% 05/21/2021 CHARLES SCHWAB CORP NOTES DTD 05/22/2018 3.250% 05/21/2021 JOHN DEERE CAPITAL CORP NOTES DTD 01/06/2017 2.650% 01/06/2022 JOHN DEERE CAPITAL CORP NOTES DTD 01/06/2017 2.650% 01/06/2022 JPMORGAN CHASE & CO BONDS DTD 03/22/2019 3.207% 04/01/2023 CATERPILLAR FINL SERVICE CORPORATE NOTES DTD 07/08/2020 0.650% 07/07/2023 TOYOTA MOTOR CREDIT CORP CORPORATE NOTES DTD 08/14/2020 0.500% 08/14/2023 PNC BANK NA CORP NOTES DTD 01/23/2019 3.500% 01/23/2024 MORGAN STANLEY CORP NOTES DTD 04/28/2014 3.875% 04/29/2024 AMERICAN HONDA FINANCE CORP NOTE DTD 06/27/2019 2.400% 06/27/2024 For the Month Ending October 31, 2020 Unreal G/L Unreal G/L Effective YTM On Cost Amort Cost Duration at Mkt 427866BA5 25.000.00 MERRILL 101.47 25,367.48 384.73 370.54 0.53 0.38 427866BA5 25.000.00 MERRILL 101.47 25,367.48 384.73 370.54 0.53 0.38 427866BA5 125,000.00 MERRILL 101.47 126,837.37 1,923.62 1,852.65 0.53 0.38 857477AV5 25.000.00 GOLDMAN 100.95 25,238.05 332.55 248.38 0.55 0.23 857477AV5 25.000.00 GOLDMAN 100.95 25,238.05 332.55 248.38 0.55 0.23 857477AV5 75.000.00 GOLDMAN 100.95 75,714.15 997.65 745.13 0.55 0.23 808513AW5 35.000.00 CSFB 04/21/21 101.37 35,479.40 480.45 479.59 0.47 0.79 808513AW5 200,000.00 CSFB 04/21/21 101.37 202,739.40 2,745.40 2,740.50 0.47 0.79 24422ETL3 50.000.00 MITSU 102.73 51,363.50 1,584.00 1,417.56 1.16 0.34 24422ETL3 275,000.00 MITSU 102.73 282,499.25 8,712.00 7,796.57 1.16 0.34 46647PBB1 675,000.00 3PM_CHAS 04/01/22 103.89 701,285.18 26,285.18 26,285.18 1.40 1.56 14913R2D8 225,000.00 BARCLAY 100.40 225,900.00 1,026.00 1,012.64 2.66 0.50 89236THF5 200,000.00 3PM_CHA 100.53 201,064.20 1,218.20 1,207.09 2.77 0.31 693475AV7 400,000.00 CITIGRP 108.76 435,037.60 32,189.60 33,176.84 3.06 0.75 61746BDO6 400,000.00 WELLS FA 110.24 440,963.20 18,047.20 24,190.58 3.31 0.89 02665WCZ2 400,000.00 WELLS FA 105.63 422,530.40 24,514.40 23,993.45 3.50 0.83 PFM Asset Management LLC Page 21 � F- � CAE1J__F___ Mnnnnnrl Airemint emir Mmrlrot Vnimm IL Annhitirc For the Month Endin4 October 31, 2020 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Dated Date /Coupon /Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost Duration at Mkt GOLDMAN SACHS GROUP INC BONDS 38141EC23 400,000.00 SUSQ 109.08 436,314.00 17,682.00 22,574.94 3.45 1.32 DTD 07/08/2014 3.850% 07/08/2024 WALT DISNEY COMPANY /THE 254687FK7 400,000.00 JPM_CHAS 103.72 414,883.20 16,515.20 16,136.79 3.72 0.76 DTD 09/06/2019 1.750% 08/30/2024 BANK OF NY MELLON CORP 06406RALl 200,000.00 MORGAN_S 104.99 209,982.00 9,102.00 9,243.33 3.84 0.82 DTD 10/24/2019 2.100% 10/24/2024 PACCAR FINANCIAL CORP CORPORATE 69371RO66 175,000.00 MERRILL 104.50 182,876.58 (17.67) (2.50) 4.11 0.73 NOTES DTD 02/06/2020 1.800% 02/06/2025 CITIGROUP INC CORP NOTES 172967JP7 225,000.00 MKTX 110.63 248,915.03 (823.72) 64.49 4.23 0.88 DTD 04/27/2015 3.300% 04/27/2025 APPLE INC (CALLABLE) CORP NOTES 037833DT4 550,000.00 GOLDMAN 04/11/25 101.91 560,495.65 9,390.15 9,496.14 4.33 0.70 DTD 05/11/2020 1.125% 05/11/2025 GENERAL DYNAMICS CORP 369550BG2 225,000.00 JPM_CHA 111.15 250,077.15 (2,170.35) (1,974.32) 4.20 0.98 DTD 05/11/2018 3.500% 05/15/2025 AMAZON.COM INC CORPORATE NOTES 023135BOS 475,000.00 GOLDMAN 100.90 479,269.78 4,502.53 4,483.52 4.50 0.60 DTD 06/03/2020 0.800% 06/03/2025 BANK OF AMERICA CORP NOTES 06051GFS3 225,000.00 MERRILL 113.24 254,783.03 (2,135.47) (846.01) 4.38 1.01 DTD 07/30/2015 3.875% 08/01/2025 BRISTOL -MYERS SQUIBB CO CORPORATE 110122DC9 125,000.00 WELLS _F 05/15/25 114.66 143,324.75 489.75 827.85 4.20 0.75 NOTES DTD 07/15/2020 3.875% 08/15/2025 ABBOTT LABORATORIES CORPORATE 002824BM1 225,000.00 US_BANC 06/15/25 114.09 256,693.95 (1,151.55) (502.66) 4.29 0.91 NOTES (CAL DTD 03/22/2017 3.875% 09/15/2025 Security Type Sub -Total 8,190,000.00 8,558,664.81 182,256.61 198,905.96 2.55 0.77 SWEDBANK (NEW YORK) CERT DEPOS 87019U6D6 100,000.00 MERRILL 100.08 100,075.30 75.30 75.30 0.05 2.27 DTD 11/17/2017 2.270% 11/16/2020 SWEDBANK (NEW YORK) CERT DEPOS 87019U6D6 100,000.00 MERRILL 100.08 100,075.30 75.30 75.30 0.05 2.27 DTD 11/17/2017 2.270% 11/16/2020 PFM Asset Management LLC Page 22 � F- � CAE1J__F___ Mnnnnnrl Airemint emir Mmrlrot Vnimm IL Annhitirc For the Month Endin4 October 31, 2020 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Dated Date /Coupon /Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost Duration at Mkt SWEDBANK (NEW YORK) CERT DEPOS 87019U6D6 600,000.00 MERRILL 100.08 600,451.80 451.80 451.80 0.05 2.27 DTD 11/17/2017 2.270% 11/16/2020 DTD 10/17/2018 3.360% 03/20/2022 ROYAL BANK OF CANADA NY CD 78012UEE1 50,000.00 RBC 101.86 50,930.55 930.55 930.55 0.59 0.15 DTD 06/08/2018 3.240% 06/07/2021 0.11 3.13 DTD 09/26/2018 3.300% 07/20/2022 ROYAL BANK OF CANADA NY CD 78012UEE1 100,000.00 RBC 101.86 101,861.10 1,861.10 1,861.10 0.59 0.15 DTD 06/08/2018 3.240% 06/07/2021 5,337.28 5,315.92 0.61 2.36 DTD 11/28/2018 3.160% 01/15/2023 ROYAL BANK OF CANADA NY CD 78012UEE1 525,000.00 RBC 101.86 534,770.78 9,770.78 9,770.78 0.59 0.15 DTD 06/08/2018 3.240% 06/07/2021 101.93 255,846.09 4,846.38 4,841.73 0.64 2.45 DTD 11/21/2018 3.250% 04/20/2023 CREDIT SUISSE NEW YORK CERT DEPOS 22549L6F7 250,000.00 CSFB 100.13 250,327.75 327.75 327.75 1.27 0.42 DTD 08/07/2020 0.520% 02/01/2022 198,623.25 3PM_CHAS 101.50 201,597.63 3,020.70 2,998.71 0.60 2.41 SKANDINAV ENSKILDA BANK LT CD 83050PDR7 400,000.00 BARCLAYS 102.86 411,448.40 11,448.40 11,448.40 1.80 0.28 DTD 09/03/2019 1.860% 08/26/2022 CARMAX AUTO OWNER TRUST 14313FAD1 266,471.23 BARCLAYS 101.82 271,328.28 4,893.36 4,876.49 Security Type Sub -Total 2,125,000.00 2,149,940.98 24,940.98 24,940.98 0.70 1.00 BMWLT 2018 -1 A4 05586CAD6 300,000.00 SOCGEN 100.87 302,610.48 2,613.15 2,611.56 0.29 2.72 DTD 10/17/2018 3.360% 03/20/2022 GMALT 2018 -3 A4 36256GAE9 275,000.00 RBC 100.29 275,792.55 827.58 808.29 0.11 3.13 DTD 09/26/2018 3.300% 07/20/2022 HAROT 2018 -4 A3 43815AAC6 306,301.86 JPM_CHAS 101.73 311,593.35 5,337.28 5,315.92 0.61 2.36 DTD 11/28/2018 3.160% 01/15/2023 VALET 2018 -2 A3 92869BAD4 251,010.25 CITIGRP 101.93 255,846.09 4,846.38 4,841.73 0.64 2.45 DTD 11/21/2018 3.250% 04/20/2023 GMCAR 2018 -3 A3 362553AD6 198,623.25 3PM_CHAS 101.50 201,597.63 3,020.70 2,998.71 0.60 2.41 DTD 07/18/2018 3.020% 05/16/2023 CARMAX AUTO OWNER TRUST 14313FAD1 266,471.23 BARCLAYS 101.82 271,328.28 4,893.36 4,876.49 0.66 2.41 DTD 07/25/2018 3.130% 06/15/2023 CARMAX AUTO OWNER TRUST 14315EAC4 339,814.07 MERRILL 102.28 347,575.76 7,764.82 7,763.53 0.79 2.54 DTD 10/24/2018 3.360% 09/15/2023 GMCAR 2019 -1 A3 36256XAD4 218,906.60 RBC 101.78 222,808.15 3,925.79 3,916.79 0.70 2.36 DTD 01/16/2019 2.970% 11/16/2023 COMET 2019 -A2 A2 14041NFUO 800,000.00 RBC 102.59 820,697.28 20,898.72 20,851.54 1.77 1.02 DTD 09/05/2019 1.720% 08/15/2024 PFM Asset Management LLC Page 23 CALIJ— Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/ Description Next Call Market Market Unreal G/L Dated Date /Coupon /Maturity CUSIP Par Broker Date Price Value On Cost For the Month Ending October 31, 2020 Unreal G/L Effective YTM Amort Cost Duration at Mkt Security Type Sub -Total 2,956,127.26 3,009,849.57 54,127.78 53,984.56 0.88 2.14 Managed Account Sub -Total 31,195,630.91 32,273,281.00 663,585.63 700,605.79 2.74 0.68 Money Market Mutual Fund CAMP Pool 50,687.74 1.00 50,687.74 0.00 0.00 0.00 Money Market Sub -Total 50,687.74 50,687.74 0.00 0.00 0.00 Securities Sub -Total $31,246,318.65 $32,323,968.74 $663,585.63 $700,605.79 2.74 0.68% Accrued Interest $134,612.32 Total Investments $32,458,581.06 Bolded items are forward settling trades PFM Asset Management LLC Page 24 � r � CAE1j__F___ M =n =nnel Annnirnt Corirrifti Trnncnrtinnc IL Tntoroct CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Principal Accrued Trade Settle Securitv Description CUSIP Par Proceeds Interest 10/14/20 10/16/20 FREDDIE MAC NOTES (323,787.75) DTD 10/16/2020 0.125% 10/16/2023 10/16/20 10/20/20 GENERAL DYNAMICS CORP 225,000.00 DTD 05/11/2018 3.500% 05/15/2025 10/16/20 10/29/20 SAN JUAN USD, CA TXBL GO BONDS 798306WP7 DTD 10/29/2020 0.852% 08/01/2025 10/22/20 10/29/20 PACCAR FINANCIAL CORP CORPORATE (130,000.00) NOTES 175,000.00 DTD 02/06/2020 1.800% 02/06/2025 10/30/20 11/10/20 LOS ANGELES CCD, CA TXBL GO (183,620.50) BONDS 140,000.00 DTD 11/10/2020 0.773% 0.00 08/01/2025 Transaction Type Sub -Total 10/01/20 10/01/20 JPMORGAN CHASE & CO BONDS DTD 03/22/2019 3.207% 04/01/2023 10/01/20 10/25/20 FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024 10/01/20 10/25/20 FHLMC SERIES K721 A2 DTD 12/01/2015 3.090% 08/01/2022 10/01/20 10/25/20 FHMS KJ27 Al DTD 11/01/2019 2.092% 07/01/2024 10/01/20 10/25/20 FHMS KP05 A DTD 12/01/2018 3.203% 07/01/2023 10/01/20 10/25/20 FNA 2018 -M5 A2 DTD 04/01/2018 3.560% 09/01/2021 10/13/20 10/13/20 TOYOTA MOTOR CREDIT CORP NOTES DTD 04/13/2018 2.950% 04/13/2021 10/14/20 10/14/20 FEDERAL HOME LOAN BANK NOTES DTD 04/16/2020 0.500% 04/14/2025 10/15/20 10/15/20 COMET 2019 -A2 A2 DTD 09/05/2019 1.720% 08/15/2024 For the Month Ending October 31, 2020 Realized GIL Realized GIL Sale Total Cost Amort Cost Method 3137EAEY1 325,000.00 (323,787.75) 0.00 (323,787.75) 369550BG2 225,000.00 (252,247.50) (3,390.63) (255,638.13) 798306WP7 130,000.00 (130,000.00) 0.00 (130,000.00) 69371RO66 175,000.00 (182,894.25) (726.25) (183,620.50) 54438CYK2 140,000.00 (140,000.00) 0.00 (140,000.00) 995,000.00 (1,028,929.50) (4,116.88) (1,033,046.38) 46647PBB1 675,000.00 0.00 10,823.63 10,823.63 3137BGK24 250,000.00 0.00 637.92 637.92 3137BM6P6 230,000.00 0.00 592.26 592.26 3137FO3V3 100,223.07 0.00 174.72 174.72 3137FKK39 55,177.71 0.00 147.28 147.28 3136B1XP4 120,870.31 0.00 359.89 359.89 89236TEU5 50,000.00 0.00 737.50 737.50 3130A)HU6 350,000.00 0.00 865.28 865.28 14041NFUO 800,000.00 0.00 1,146.67 1,146.67 PFM Asset Management LLC Page 25 � F- � Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade Settle Securitv Descri CUSIP 10/15/20 10/15/20 BANK OF NEW YORK MELLON CORP 06406FAAl Principal Accrued Par Proceeds Interest Total 200,000.00 0.00 2,500.00 2,500.00 For the Month Ending October 31, 2020 Realized GIL Realized GIL Sale Cost Amort Cost Method Transaction Type Sub -Total 9,200,294.20 0.00 63,013.98 63,013.98 PFM Asset Management LLC Page 26 (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 10/15/20 10/15/20 CARMAX AUTO OWNER TRUST 14315EAC4 350,000.00 0.00 980.00 980.00 DTD 10/24/2018 3.360% 09/15/2023 10/15/20 10/15/20 PEPSICO INC CORP (CALLABLE) NOTE 713448DX3 280,000.00 0.00 2,800.00 2,800.00 DTD 10/10/2017 2.000% 04/15/2021 10/15/20 10/15/20 CARMAX AUTO OWNER TRUST 14313FAD1 285,564.25 0.00 744.85 744.85 DTD 07/25/2018 3.130% 06/15/2023 10/15/20 10/15/20 HAROT 2018 -4 A3 43815AAC6 332,043.40 0.00 874.38 874.38 DTD 11/28/2018 3.160% 01/15/2023 10/16/20 10/16/20 GMCAR 2019 -1 A3 36256XAD4 234,100.45 0.00 579.40 579.40 DTD 01/16/2019 2.970% 11/16/2023 10/16/20 10/16/20 GMCAR 2018 -3 A3 36255JAD6 214,991.82 0.00 541.06 541.06 DTD 07/18/2018 3.020% 05/16/2023 10/20/20 10/20/20 VALET 2018 -2 A3 92869BAD4 272,323.19 0.00 737.54 737.54 DTD 11/21/2018 3.250% 04/20/2023 10/20/20 10/20/20 GMALT 2018 -3 A4 36256GAE9 275,000.00 0.00 756.25 756.25 DTD 09/26/2018 3.300% 07/20/2022 10/20/20 10/20/20 BMWLT 2018 -1 A4 05586CAD6 300,000.00 0.00 840.00 840.00 DTD 10/17/2018 3.360% 03/20/2022 10/22/20 10/22/20 FANNIE MAE NOTES 3135G03U5 350,000.00 0.00 1,081.60 1,081.60 DTD 04/24/2020 0.625% 04/22/2025 10/24/20 10/24/20 BANK OF NY MELLON CORP 06406RAL1 200,000.00 0.00 2,100.00 2,100.00 DTD 10/24/2019 2.100% 10/24/2024 10/27/20 10/27/20 CITIGROUP INC CORP NOTES 172967JP7 225,000.00 0.00 3,712.50 3,712.50 DTD 04/27/2015 3.300% 04/27/2025 10/29/20 10/29/20 MORGAN STANLEY CORP NOTES 61746BDO6 400,000.00 0.00 7,750.00 7,750.00 DTD 04/28/2014 3.875% 04/29/2024 10/31/20 10/31/20 US TREASURY NOTES 912828T91 2,650,000.00 0.00 21,531.25 21,531.25 DTD 10/31/2016 1.625% 10/31/2023 Transaction Type Sub -Total 9,200,294.20 0.00 63,013.98 63,013.98 PFM Asset Management LLC Page 26 � F- � CAE1J__F___ M =n =nnel Annnirnt Corirrifti Tr =nc =rtinnc IL Tntnroct For the Month Endin4 October 31, 2020 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Principal Accrued Realized GIL Realized GIL Sale Trade Settle Securitv Description CUSIP Par Proceeds Interest Total Cost Amort Cost Method 10/01/20 10/25/20 FNA 2018 -M5 A2 3136B1XP4 924.55 924.55 0.00 924.55 (18.39) 0.00 DTD 04/01/2018 3.560% 09/01/2021 10/01/20 10/25/20 FHMS KJ27 Al 3137FO3V3 198.05 198.05 0.00 198.05 0.00 0.00 DTD 11/01/2019 2.092% 07/01/2024 10/01/20 10/25/20 FHMS KP05 A 3137FKK39 97.53 97.53 0.00 97.53 0.00 0.00 DTD 12/01/2018 3.203% 07/01/2023 10/01/20 10/25/20 FNA 2018 -M5 A2 3136B1XP4 924.55 924.55 0.00 924.55 (18.39) 0.00 DTD 04/01/2018 3.560% 09/01/2021 10/01/20 10/25/20 FNA 2018 -M5 A2 3136B1XP4 4,622.76 4,622.76 0.00 4,622.76 (91.95) 0.00 DTD 04/01/2018 3.560% 09/01/2021 10/15/20 10/15/20 CARMAX AUTO OWNER TRUST 14315EAC4 10,185.93 10,185.93 0.00 10,185.93 0.09 0.00 DTD 10/24/2018 3.360% 09/15/2023 10/15/20 10/15/20 HAROT 2018 -4 A3 43815AAC6 25,741.54 25,741.54 0.00 25,741.54 3.85 0.00 DTD 11/28/2018 3.160% 01/15/2023 10/15/20 10/15/20 CARMAX AUTO OWNER TRUST 14313FAD1 19,093.02 19,093.02 0.00 19,093.02 2.60 0.00 DTD 07/25/2018 3.130% 06/15/2023 10/16/20 10/16/20 GMCAR 2018 -3 A3 36255JAD6 16,368.57 16,368.57 0.00 16,368.57 3.82 0.00 DTD 07/18/2018 3.020% 05/16/2023 10/16/20 10/16/20 GMCAR 2019 -1 A3 36256XAD4 15,193.85 15,193.85 0.00 15,193.85 1.68 0.00 DTD 01/16/2019 2.970% 11/16/2023 10/20/20 10/20/20 VALET 2018 -2 A3 92869BAD4 21,312.94 21,312.94 0.00 21,312.94 0.89 0.00 DTD 11/21/2018 3.250% 04/20/2023 Transaction Type Sub -Total 114,663.29 114,663.29 0.00 114,663.29 (115.80) 0.00 10/14/20 10/16/20 US TREASURY N/B NOTES 912828R69 50,000.00 51,921.88 306.35 52,228.23 2,314.46 2,180.27 FIFO DTD 05/31/2016 1.625% 05/31/2023 10/15/20 10/16/20 US TREASURY N/B NOTES 912828R69 125,000.00 129,794.92 765.88 130,560.80 5,776.37 5,440.90 FIFO DTD 05/31/2016 1.625% 05/31/2023 10/16/20 10/20/20 US TREASURY N/B NOTES 912828R69 125,000.00 129,790.04 788.08 130,578.12 5,771.48 5,433.31 FIFO DTD 05/31/2016 1.625% 05/31/2023 10/22/20 10/29/20 US TREASURY N/B NOTES 912828R69 125,000.00 129,672.85 838.03 130,510.88 5,654.30 5,310.05 FIFO DTD 05/31/2016 1.625% 05/31/2023 PFM Asset Management LLO Page 27 � r � CAE1J__F___ M =n =nnel Annnirnt Corirritti Tr =nc =rtinnc IL Tntnroct For the Month Endin4 October 31, 2020 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Principal Accrued Realized GIL Realized GIL Sale Trade Settle Securitv Description CUSIP Par Proceeds Interest Total Cost Amort Cost Method 10/22/20 10/29/20 PACCAR FINANCIAL CORP 69371RP26 20,000.00 20,302.20 291.06 20,593.26 307.40 303.12 FIFO DTD 05/10/2018 3.100% 05/10/2021 10/22/20 10/29/20 PACCAR FINANCIAL CORP 69371RP26 20,000.00 20,302.20 291.06 20,593.26 307.40 303.12 FIFO DTD 05/10/2018 3.100% 05/10/2021 10/22/20 10/29/20 PACCAR FINANCIAL CORP 69371RP26 100,000.00 101,511.00 1,455.28 102,966.28 1,537.00 1,515.58 FIFO DTD 05/10/2018 3.100% 05/10/2021 Transaction Type Sub -Total 565,000.00 583,295.09 4,735.74 588,030.83 21,668.41 20,486.35 Managed Account Sub -Total (330,971.12) 63,632.84 (267,338.28) 21,552.61 20,486.35 Total Security Transactions Bolded items are forward settling trades. PFM Asset Management LLC ($330,971.12) $63,632.84 ($267,338.28) $21,552.61 $20,486.35 Page 28 � r CALIJ — Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Trade Settlement Date Date Transaction Description For the Month Ending October 31, 2020 Share or Dollar Amount Unit Price of Transaction Total Shares Owned Opening Balance 204,871.58 10/01/20 10/01/20 Purchase - Interest 46647PBB1 1.00 10,823.63 215,695.21 10/06/20 10/06/20 IP Fees August 2020 1.00 (2,500.85) 213,194.36 10/06/20 10/06/20 U.S. Bank Fees July 2020 1.00 (167.92) 213,026.44 10/13/20 10/13/20 Purchase - Interest 89236TEU5 1.00 737.50 213,763.94 10/14/20 10/14/20 Purchase - Interest 3130AJHU6 1.00 865.28 214,629.22 10/15/20 10/15/20 Purchase - Interest 06406FAA1 1.00 2,500.00 217,129.22 10/15/20 10/15/20 Purchase - Interest 713448DX3 1.00 2,800.00 219,929.22 10/15/20 10/15/20 Purchase - Interest 14041NFUO 1.00 1,146.67 221,075.89 10/15/20 10/15/20 Purchase - Interest 14313FAD1 1.00 744.85 221,820.74 10/15/20 10/15/20 Purchase - Interest 14315EAC4 1.00 980.00 222,800.74 10/15/20 10/15/20 Purchase - Interest 43815AAC6 1.00 874.38 223,675.12 10/15/20 10/15/20 Purchase - Principal 14313FAD1 1.00 19,093.02 242,768.14 10/15/20 10/15/20 Purchase - Principal 14315EAC4 1.00 10,185.93 252,954.07 10/15/20 10/15/20 Purchase - Principal 43815AAC6 1.00 25,741.54 278,695.61 10/16/20 10/16/20 Purchase - Interest 36255JAD6 1.00 541.06 279,236.67 10/16/20 10/16/20 Purchase - Interest 36256XAD4 1.00 579.40 279,816.07 10/16/20 10/16/20 Purchase - Principal 912828R69 1.00 129,794.92 409,610.99 10/16/20 10/16/20 Purchase - Interest 912828R69 1.00 765.88 410,376.87 10/16/20 10/16/20 Purchase - Interest 912828R69 1.00 306.35 410,683.22 10/16/20 10/16/20 Purchase - Principal 912828R69 1.00 51,921.88 462,605.10 10/16/20 10/16/20 Purchase - Principal 36255JAD6 1.00 16,368.57 478,973.67 PFM Asset Management LLC Page 29 � r J - Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Trade Settlement Date Date Transaction Description For the Month Ending October 31, 2020 Share or Dollar Amount Unit Price of Transaction Total Shares Owned 10/16/20 10/16/20 Purchase - Principal 36256XAD4 1.00 15,193.85 494,167.52 10/16/20 10/16/20 Redemption - Principal 3137EAEY1 1.00 (323,787.75) 170,379.77 10/20/20 10/20/20 Purchase - Interest 05586CAD6 1.00 840.00 171,219.77 10/20/20 10/20/20 Purchase - Interest 36256GAE9 1.00 756.25 171,976.02 10/20/20 10/20/20 Purchase - Interest 92869BAD4 1.00 737.54 172,713.56 10/20/20 10/20/20 Purchase - Interest 912828R69 1.00 788.08 173,501.64 10/20/20 10/20/20 Purchase - Principal 912828R69 1.00 129,790.04 303,291.68 10/20/20 10/20/20 Purchase - Principal 92869BAD4 1.00 21,312.94 324,604.62 10/20/20 10/20/20 Redemption - Principal 369550BG2 1.00 (252,247.50) 72,357.12 10/20/20 10/20/20 Redemption - Interest 369550BG2 1.00 (3,390.63) 68,966.49 10/22/20 10/22/20 Purchase - Interest 3135G03U5 1.00 1,081.60 70,048.09 10/23/20 10/23/20 IP Fees September 2020 1.00 (2,445.90) 67,602.19 10/23/20 10/23/20 U.S. Bank Fees August 2020 1.00 (226.01) 67,376.18 10/26/20 10/26/20 Purchase - Interest 06406RAL1 1.00 2,100.00 69,476.18 10/26/20 10/26/20 Purchase - Interest 3136B1XP4 1.00 359.89 69,836.07 10/26/20 10/26/20 Purchase - Interest 3137BGK24 1.00 637.92 70,473.99 10/26/20 10/26/20 Purchase - Interest 3137BM6P6 1.00 592.26 71,066.25 10/26/20 10/26/20 Purchase - Interest 3137FKK39 1.00 147.28 71,213.53 10/26/20 10/26/20 Purchase - Interest 3137FQ3V3 1.00 174.72 71,388.25 10/26/20 10/26/20 Purchase - Principal 3137FKK39 1.00 97.53 71,485.78 10/26/20 10/26/20 Purchase- Principal3137FQ3V3 1.00 198.05 71,683.83 10/26/20 10/26/20 Purchase - Principal 3136B1XP4 1.00 924.55 72,608.38 PFM Asset Management LLC Page 30 � r J — Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Trade Settlement Date Date Transaction Description For the Month Ending October 31, 2020 Share or Dollar Amount Unit Price of Transaction Total Shares Owned 10/26/20 10/26/20 Purchase - Principal 3136B1XP4 1.00 924.55 73,532.93 10/26/20 10/26/20 Purchase - Principal 3136B1XP4 1.00 4,622.76 78,155.69 10/27/20 10/27/20 Purchase - Interest 172967JP7 1.00 3,712.50 81,868.19 10/29/20 10/29/20 Purchase - Interest 61746BDQ6 1.00 7,750.00 89,618.19 10/29/20 10/29/20 Purchase - Principal 69371RP26 1.00 142,115.40 231,733.59 10/29/20 10/29/20 Purchase - Interest 69371RP26 1.00 2,037.39 233,770.98 10/29/20 10/29/20 Purchase - Principal 912828R69 1.00 129,672.85 363,443.83 10/29/20 10/29/20 Purchase - Interest 912828R69 1.00 838.03 364,281.86 10/29/20 10/29/20 Redemption - Principal 69371RQ66 1.00 (182,894.25) 181,387.61 10/29/20 10/29/20 Redemption - Interest 69371RQ66 1.00 (726.25) 180,661.36 10/29/20 10/29/20 Redemption - Principal 798306WP7 1.00 (130,000.00) 50,661.36 10/30/20 11/02/20 Accrual Income Div Reinvestment - Distributions 1.00 26.38 50,687.74 PFM Asset Management LLC Page 31 CALIJ — Aeeniint Ctntmmnnt CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Trade Settlement Date Date Transaction Description Closing Balance Month of Fiscal YTD October January- October Opening Balance 204,871.58 109,033.70 Closing Balance Purchases 744,203.22 14,963,963.54 Average Monthly Balance Redemptions (Excl. Checks) (898,387.06) (15,022,309.50) Monthly Distribution Yield Check Disbursements 0.00 0.00 Closing Balance 50,687.74 50,687.74 Cash Dividends and Income 26.38 2,453.28 For the Month Ending October 31, 2020 Share or Dollar Amount Unit Price of Transaction 50,687.74 153,622.82 0.19% PFM Asset Management LLC Page 32 Total Shares Owned 50,687.74 CITY OF 4 LADE LSIHORE 1W DREAM EXTREME- Review of Investment Performance CAMP Accounts PfM CITY OF LAKE ELSINORE Investment Performance Review For the Quarter Ended September 30, 2020 PFM Asset Management LLC Market Update QUARTERLY MARKET SUMMARY SUMMARY • In Q3, U.S. economic conditions were characterized by: (1) economic indicators improving at a faster - than - expected pace, yet still trailing pre -virus levels; (2) equity markets surpassing their February all -time highs before selling off marginally in September; (3) investment -grade (IG) sector spreads continuing to grind tighter as the Fed reaffirmed its accommodative monetary policy and unconditional support of financial markets; and (4) daily COVID -19 cases remaining stubbornly high despite continued containment efforts, reminding all of its lingering presence. • The Fed spent Q3 refining its messaging after deploying a wide variety of tools in Q1 and Q2. At its two meetings over the quarter, the central bank voted to leave the target range for the federal funds rate unchanged at 0% to 0.25 %. At the Fed's annual Economic Symposium hosted in Jackson Hole, the central bank announced a major policy shift on inflation and will now seek to achieve inflation that "averages 2% over time," moving away from the prior point -in -time target approach. Interestingly, the FOMC's updated economic projections released at its September policy meeting show inflation only reaching 2% in 2023. The new average inflation goal implies that the federal funds target rate may stay at near 0% beyond 2023 as the Fed can allow faster growth and higher inflation. Given the better - than - expected economic recovery pace so far, the Fed's updated forward projections for growth and unemployment improved but still portrayed a drawn -out recovery. • Shorter -term Treasury yields remained low and range- bound, anchored by the Fed's zero - interest -rate policy. Longer -term Treasury yields edged higher due to positive economic news, the Fed's shifting stance, on inflation, and optimism about another potential round of fiscal stimulus. As a result, Treasury index returns were muted. Meanwhile, IG sector spreads continued to compress, although at a slower rate than the preceding quarter, leading to positive excess returns. Diversification, once again, played an important role in portfolio performance in Q3. • Although economic activity trails pre - pandemic levels, the strong recovery thus far has propelled stock market performance and equity indices, both in the U.S. and around the globe. The S &P returned 8.5% in Q3, following Q2's impressive 20% rebound. ECONOMIC SNAPSHOT • The U.S. economy contracted at an annual rate of 31.4% in Q2, following Q1's 5.0% decline, due to the pandemic- induced economic shutdown. The American consumer, who accounts for about two - thirds of GDP, was the largest detractor in Q2. • The labor market continued to improve in Q3 but still has an uphill battle to reach pre - pandemic levels. The unemployment rate declined to 7.9% in September, from 11.1 % in June and 14.7% in April, as an additional 3.9 million people became employed over the quarter. However, total employment remains about 11.2 million less than in February. Furthermore, the number of permanent job losses rose in Q3 and weekly initial jobless claims remained stubbornly high, evidence of the headwinds facing future jobs reports. For the Quarter Ended September 30, 2020 Fixed Income Management INTEREST RATES • The U.S. Treasury yield curve remained relatively unchanged over the quarter. Shorter - dated yields on maturities less than 6 months decreased four bps as they continued to reset closer to the Fed's zero- interest -rate policy amid less Treasury Bill issuance compared to Q2. Long -term yields on maturities 10 -years and longer inched only slightly higher by five bps, largely on the Fed's renewed inflation outlook. • At quarter -end, the yield on a 3 -month Treasury Bill stood at 0.10 %, the 2 -year note was 0.13 %, 5- and 10 -year notes were 0.28% and 0.69 %, respectively, while the 30 -year Treasury ended the quarter at 1.46 %. • The combination of lower rates on maturities out to seven years and modest curve steepening on only the longest maturities resulted in intermediate -term Treasuries providing the most attractive performance amongst Treasury indices. For example, the 3 -month and 2 -year Constant Maturity U.S. Treasury Indices returned 0.04% and 0.05 %, respectively. Meanwhile, the 5- and 7 -year indices returned 0.18% and 0.40 %, and the 10- and 30 -year benchmark notes returned 0.04% and - 0.78 %, respectively. SECTOR PERFORMANCE • Diversification away from Treasuries was again additive to performance in Q3. Momentum from the retracement of wider spreads at the onset of the pandemic continued in Q3, albeit at a reduced pace, and led to most IG fixed income sectors generating strongly positive excess returns relative to similar duration Treasuries. • Federal agency yield spreads remained wide from a historical perspective, most notably on maturities three years and longer. Shorter -dated agency yield spreads, on the other hand, snapped back to pre - pandemic levels. Because of higher yields and immediate spread tightening after issuance, agency indices generated excess returns, with longer - dated agencies outperforming shorter maturities. • The IG corporate sector was a top performer in Q3 as spreads retraced nearly all the widening experienced earlier in the year. Continued support from the Fed helped to anchor spreads, as did better - than - expected corporate earnings and robust demand as investors continued to search for yield in the ultra -low rate environment. Like Q2, longer duration and lower- quality issuers outperformed shorter- and higher - quality issuers. • The asset - backed security (ABS) sector was the primary beneficiary of the stronger -than- expected consumer, as the collateral performance was better - than - expected. As a result, ABS yield spreads compressed to levels even tighter than at the beginning of the year. Limited new supply and heightened investor demand was also supportive. Over the quarter, longer- duration ABS outperformed shorter- duration securities, while auto loan/ lease structures outperformed credit card - backed issues. • The federal agency mortgage- backed security sector (MBS) continued to experience elevated prepayments as homeowners took advantage of today's low mortgage rates to refinance. As a result, the overall sector underperformed similar- duration Treasuries, After cratering in Q1, U.S. manufacturing and services activity continued to rebound, although a few structures and coupons generated positive excess returns. Within the with both ISM surveys moving firmly back into expansionary territory. Meanwhile, most entire agency- backed mortgage security sector, commercial MBS (CMBS) was the top housing market measures, including new home sales, existing home sales, building performer, generating positive excess returns largely due to increased prepayment permits and mortgage applications, all surged above pre - pandemic levels due to record- protection. low mortgage rates. PFM Asset Management LLC For the Quarter Ended September 30, 2020 QUARTERLY MARKET SUMMARY Fixed Income Management Economic Snapshot Unemployment Rate Sep'20 7.9% 11.1% 3.5% Unemployment Rate (left) vs. Change in Non -farm Payrolls (right) Change In Non -Farm Payrolls Unemployment Rate 90R"Msep'20 1 16.0% 10,000K Change In Non -Farm Payrolls Sep'20 661,000 4,781,000 3. 14.0% 5,000K 12.0% - - - - - - - - - -- -------- - - - - -� 0 Average Hourly Earnings (YoY) Sep'20 4.7% 4.9% 3.1% 10.0% 5 -OOOK 8.0% Consumer Price Index Core (YoY) Sep'20 1.7% 1.2% 2.4% 10 -0o0K 6.0% Retail Sales (YoY) Sep'20 5.4% 2.2% 3.8% 4.0% 15 -OOOK Personal Income (YoY) Aug '20 4.7% 7.8% 3.5% 2.0% 20 -OOOK 1 Sep 30 $1,888 $1,801 $1,466 0.0% 25 -OOOK Initial Jobless Claims (week) 10/10/20 898,000 1,408,000 218,000 Sep'17 Mar'18 Sep' Mar'19 Sep'19 Mar'20 Sep'20 Real GDP (QoQ SAAR) 2020 Q2 - 31.4% -5.0 %1 1.5% z ReaIGDP (QoQ) 10% 90R"Msep'20 1 5% GDP Personal Consumption (QoQ SAAR) 2020 Q2 - 33.2% -6.9% 3. 0% -5% Consumer Price Index Core (YoY) Sep'20 1.7% 1.2% 2.4% -10% Retail Sales (YoY) Sep'20 5.4% 2.2% 3.8% -15% 71 ' -20% Gold Futures (oz.) Sep 30 $1,888 $1,801 $1,466 -25% 5% ISM Manufacturing Survey (month) Sep '20 55.4 -3 2. Data as of Second Quarter 2019. -35% Existing Home Sales SAAR (month) Aug '20 6.00 mil. 4.70 mil. 5.41 mil. Jun'17 Dec'17 Jun'18 Dec'l8 Jun '19 Dec'l9 Jun'20 Personal Consumption Expenditures (YoY) Aug'20 1.4% 0.9% 1.4% Consumer Price Index CPI (YoY) Core CPI (YoY) 90R"Msep'20 4% Consumer Price Index (YoY) 1.4% 0.6% 1 3% Consumer Price Index Core (YoY) Sep'20 1.7% 1.2% 2.4% 2% rude Oil Futures (WTI, per barrel) Sep 30 $40.22 $39.27 $54.07 1% ' 0% Gold Futures (oz.) Sep 30 $1,888 $1,801 $1,466 Sep'17 Mar'18 Sep'18 Mar'19 Sep'19 Mar'20 Sep'20 1. Data as of First Quarter 2020. 2. Data as of Second Quarter 2019. Note: YoY = year - over -year, QoQ = quarter - over - quarter, SAAR = seasonally adjusted annual rate, WTI = West Texas Intermediate crude oil. Source: Bloomberg. PFM Asset Management LLC 2 U.S. Treasury Note Yields 3.5% For the Quarter Ended September 30, 2020 QUARTERLY MARKET SUMMARY Fixed Income Management Interest Rate Overview 3.0% 2.5% ------- - - -- -- 2.0% ----------------------------------------------------------------------------------------- 1.0% ---------------------------------- 0.5% ------------------------ - - - - -- fir - - - -- - - - -; - - - - - - - - - - -- - 0.0% 9/30/19 12/31/19 3/31/20 6/30/20 9/30/20 2 -Year 5 -Year 10 -Year U.S. Treasury Yields 3 -Month Sep'20 0.10% Jun'20 0.14% Change over Quarter ') 04 %) 1.82% Change over (1.72 %) 1 -Year 0.12% 0.15% (0.03 %) 1.76% (1.64 %) 2 -Year 0.13% 0.15% (0.02%) 1.62% (1.49 %) 5 -Year 0.28% 0.29% (0.01 %) 1.55% (1.27 %) 10 -Year 0.69% 0.66% 0.03% 1.67% 30 -Year 1.46% 1.41% 0.05% 2.11% Source: Bloomberg. PFM Asset Management LLC U.S. Treasury Yield Curve 3% 2% v m 1% 0% _ WNW Cn �l O O 0 o Maturity September 30, 2020 June 30, 2020 September 30, 2019 Yield Curves as of 09/30/2020 3% 2% a d 1% 0% _ W NNW cpco ­j N W 3 O Ui O o Maturity U.S. Treasury Federal Agency Corporates, A Rated 3 For the Quarter Ended September 30, 2020 QUARTERLY MARKET SUMMARY ICE B&AML Index Returns As of 09/30/2020 Returns for Periods ended 09/30/2020 Fixed Income Management September 1 2020 Duration Yield 3 Month Indices 1-3 Year U.S. Treasury 1.90 0.13% 0.10% 3.58% 2.64% Federal Agency 1.74 0.22% 0.20% 3.10% 2.53% U.S. Corporates, A -AAA rated 1.90 0.57% 0.46% 4.32% 3.35% 2.48 1.39% 40" 7,0o 4.61 % 3.88% Taxable Municipals 1.77 1.26% 0.93.88% 3.43% U.S. Treasury 2.65 0.16% 0.13016 4.60% 3.17% Federal Agency 2.29 0.29% 0.26% 2.80% U.S. Corporates, A -AAA rated 2.77 0.73% 0.67% 5.51% 3.99% Agency MBS (0 to 5 years) 1.84 1.40 ° / 3.27% Taxable Municipals 2.87 1.03% 1.23% 4.44% 3.72% Indices Master or U.S. Treasury 7.52 0.51% 0.18% 8.25% 5.64% low 9w Federal Agency 0.52% 4.29% U.S. Corporates, A -AAA rated 8.64 1.66% 1.25% 8.35% 6.39% 30 years) 3.77% Taxable Municipals 11.63 2.51% 1.80% 8.34% 8.19% Returns for periods greater than one year are annualized. Source: ICE BofAML Indices. PFM Asset Management LLC 4 QUARTERLY MARKET SUMMARY DISCLOSURES For the Quarter Ended September 30, 2020 Fixed Income Management PFM is the marketing name for a group of affiliated companies providing a range of services. All services are provided through separate agreements with each company. This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation. Investment advisory services are provided by PFM Asset Management LLC, which is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request. For more information regarding PFM's services or entities, please visit www.pfm.com. The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC at the time of distribution and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public, however, PFM Asset Management LLC cannot guarantee its accuracy, completeness, or suitability. The information contained in this report is not an offer to purchase or sell any securities. © 2020 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. 0 Pfm PFM Asset Management LLC 5 Investment Strategy & Portfolio Review CITY OF LAKE ELSINORE Portfolio Recap For the Quarter Ended September 30, 2020 Portfolio Review • The effects of the coronavirus continued to ripple through global economies and financial markets during the third quarter: Global Health Crisis — Coronavirus restrictions were gradually eased throughout the U.S. but were followed by regional hot spots of infection, reminding people of how long the virus may linger. Economic Shutdown — U.S. second quarter GDP plunged by a record annualized rate of 31.7 %. For context, GDP fell by 8.4% during the height of the 2008 financial crisis. However, other economic indicators were surprisingly strong and recovered at a faster pace than originally expected, leading various economists to pull forward the expected timeframe for recovery. The labor market has rebounded off its lows; but with the unemployment rate still near 8 %, the jobs landscape remains a significant headwind to a more robust and sustained recovery. Financial Markets — The Federal Reserve (Fed) continued to play a large role in supporting financial market stability. The central bank reaffirmed its ongoing support of many bond market sectors through its continuing purchase and liquidity programs, and it extended the expiration date of many of its lending facilities. The Fed also extended its forward guidance regarding zero short -term interest rates through 2023. • The U.S. Treasury yield curve remained relatively unchanged over the quarter, with all maturities ending the quarter within 0.05% of where they began. Yields on shorter -term maturities drifted lower as the lack of new fiscal stimulus resulted in lighter Treasury debt issuance. Longer -dated yields inched only slightly higher, nudged primarily by the Fed's new inflation targeting policy. As a result, Treasury index returns were muted for the quarter. Diversification away from Treasuries was again additive to performance in the third quarter. Momentum from the narrowing of spreads at the onset of the pandemic continued, albeit at a reduced pace, but led most investment -grade fixed income sectors to generate positive excess returns relative to similar- duration Treasuries. • Our third quarter strategy encompassed the following: We maintained a sharp focus on portfolio safety with robust due diligence on credit and securitized products given the backdrop of a fragile economic environment. Portfolio durations were targeted to match their respective benchmarks as few catalysts were present to push yields meaningfully higher over the near term. U.S. Treasury allocations were reduced further as financial markets stabilized and other sectors presented better investment opportunities to enhance portfolio earnings. Increased allocations to other investment -grade sectors boosted performance for the second consecutive quarter. PFM Asset Management LLC 6 CITY OF LAKE ELSINORE Portfolio Recap - continued For the Quarter Ended September 30, 2020 Portfolio Review • We continued to increase allocations to the federal agency sector as yield spreads on new issue Fannie Mae, Freddie Mac, and Federal Home Loan Bank bonds remained elevated from a historical perspective, especially for maturities of three years and longer. Value in callable structures was limited as spreads narrowed noticeably on most structures. • In the supranational sector, heavy issuance was met with increased global demand, driving yield spreads narrower. In some cases, supranational spreads compressed to levels below those on comparable- maturity federal agencies, making them unattractive. As a result, we preferred federal agencies. • Investment -grade corporate notes were, once again, a significant boon for portfolio performance during the quarter. Supply was robust as corporations continued to take advantage of the low borrowing rate environment by issuing new bonds at a rapid pace. However, investor demand was strong and pressured spreads lower. While narrower spreads benefited third quarter performance, they also reduced future earnings potential. • Despite the Fed's continued support of the mortgage markets through its ongoing purchase program, the MBS sector was a mixed bag. Elevated prepayments were the primary headwind, as borrowers sought to take advantage of record low mortgage rates. Our preference continues to be for MBS structures that are less exposed to prepayment such as agency commercial mortgages. • AAA -rated ABS offered fair value. After pausing new purchases in the second quarter, we reevaluated underlying risks in the sector by conducting robust stress testing under a wide range of adverse scenarios, which affirmed the ability of most ABS to weather the current economic downturn. In the third quarter, we once again became selective buyers of new issues, focusing on those issues with increased credit enhancements. • The taxable municipal sector remained active as entities benefited from the low borrowing rate environment. Finding value and diversification, PFM increased its participation in new issue municipal debt during the quarter as we viewed the sector to be quite attractive, even compared to some high - quality corporate issuers. • Short -term credit (negotiable CDs) spreads completely reversed the brief, crisis - induced sell -off in March which suppressed the value of most money market instruments. Allocations were reduced in favor of Treasury Bills whose yields ticked up on the back of huge issuance. PFM Asset Management LLC CITY OF LAKE ELSINORE Sector Allocation & Compliance • The portfolio is in compliance with the City Investment Policy and California Government Code. For the Quarter Ended September 30, 2020 Portfolio Compliance Security Type Market Value % of % Change Permitted by In Compliance Portfolio vs. 6/30/20 Policy U.S. Treasury $12,390,457 38.5% -8.6% 100% ✓ Federal Agency $4,126,939 12.8% +10.6% 100% ✓ Federal Agency CMOs $793,514 2.5% -0.3% 100% ✓ Municipal Obligations $746,586 2.3% +1.6% 100% ✓ Supranationals $404,186 1.3% -1.0% 30% ✓ Negotiable CDs $2,153,440 6.7% -3.7% 30% ✓ Corporate Notes $8,279,212 25.7% +1.9% 30% ✓ Asset - Backed Securities $3,124,729 9.7% -0.8% 20% ✓ Securities Sub -Total $32,019,062 99.4% Accrued Interest $147,780 Securities Total $32,166,842 CAMP Cash Reserve Portfolio $204,872 0.6% +0.3% 100% ✓ Total Investments $32,371,714 100.0% Market values, excluding accrued interest. Detail may not add to total due to rounding. Current investment policy as of June 2020. PFM Asset Management LLC 8 CITY OF LAKE ELSINORE Portfolio Statistics As of September 30, 2020 Par Value: $31,085,166 Total Market Value: $32,371,714 Security Market Value: $32,019,062 Accrued Interest: $147,780 Cash: - CAMP $204,872 Amortized Cost: $31,433,253 Yield at Market: 0.64% Yield at Cost: 1.70% Effective Duration: 2.76 Years Average Maturity: 3.06 Years Average Credit: * AA For the Quarter Ended September 30, 2020 Portfolio Snapshot Credit Quality (S &P Ratings)" Sector Allocation A Asset- Backed Not Rated 7.3% U.S. 9.7% 0.7% A- Treas u Certificate BB �9 4% 38.4% of Deposit 3.6% , A+ 6.7% AAArn 4.6% Supra -Sov / 0.6% A -1 Supra -Natl AAA X2.5% Agency 0 1.3% ° 2.1% Municipal 2.3% Mny Mkt Corporate LAA Fund / Pool 25.7% 1.2% 0.6% Federal AA- Federal L-Age ncy /C M O AA+ 1.8% Agency/GSE 2.5% 12.8% 55.5% 35% 30% 25% 20% 15% 10% 5% 0% Maturity Distribution 0- 1 Year 1- 2 Years 2- 3 Years 3- 4 Years 4- 5 Years > 5 Years *An average of each security's credit rating assigned a numeric value and adjusted for its relative weighting in the portfolio. "Securities in the portfolio are in compliance with California Government Code and the City's Investment Policy dated June 2020. PFM Asset Management LLC 9 CITY OF LAKE ELSINORE Sector For the Quarter Ended September 30, 2020 Portfolio Composition Sector Allocation September 30, 2020 June 30, 2020 March 31, 2020 December 31, 2019 My ($MM) % of Total My ($MM) % of Total My ($MM) % of Total My ($MM) % of Total U.S. Treasury 12.4 38.4% Corporate 8.3 25.7% Federal Agency /GSE 4.1 12.8% Asset - Backed 3.1 9.7% Certificate of Deposit 2.2 6.7% Federal Agency /CMO 0.8 2.5% Municipal 0.7 2.3% Supra -Sov / Supra -Natl Agency 0.4 1.3% Mny Mkt Fund / Pool 0.2 0.6% Total $32.2 100.0% 100% 47.1% • Mny Mkt Fund / Pool 50.4% 90% 23.8% Supra -Sov / Supra -Natl 20.5% Agency 80% 2.2% • Municipal 70% _ Federal Agency /CMO 60% 10.5% 50% 10.6% • Certificate of Deposit 10.3% 40% 11.7% ■ Asset - Backed 2.7% 30% 2.9% ■ Federal Agency /GSE 20% 0.8% 0 Corporate 10% 0.3% - U.S. Treasury 0% 2.3% 0.7 Se pte m be r 2020 Detail may not add to total due to rounding. 15.2 47.1% 15.9 50.4% 7.7 23.8% 6.5 20.5% 0.7 2.2% 0.0 0.0% 3.4 10.5% 3.4 10.6% 3.3 10.3% 3.7 11.7% 0.9 2.7% 0.9 2.9% 0.2 0.8% 0.1 0.3% 0.7 2.3% 0.7 2.3% 0.1 0.3% 0.4 1.3% $32.2 100.0% June 2020 $31.6 100.0% March 2020 14.4 46.5% 6.8 21.9% 0.0 0.0% 3.4 10.9% 4.8 15.4% 0.7 2.2% 0.1 0.3% 0.7 2.4% 0.1 0.4% $30.9 100.0% ■ December 2019 PFM Asset Management LLC 10 CITY OF LAKE ELSINORE For the Quarter Ended September 30, 2020 Portfolio Composition Maturity Distribution As of September 30, 2020 Yield Average 0 -1 1 -2 2 -3 3 -4 4 -5 >5 Portfolio /Benchmark at Market Maturity Years Years Years Years Years Years CITY OF LAKE ELSINORE 0.64% 3.06 yrs 14.8% 5.6% 23.1% 31.7% 24.8% 0.0% ICE BofAML 1 -5 Year U.S. Treasury Index 0.16% 2.73 yrs 1.6% 33.8% 27.2% 18.4% 19.0% 0.0% 35% 30% 25% 20% 15% 10% 5% 0% 0 -1 Years 1 -2 Years 2 -3 Years 3 -4 Years 4 -5 Years > 5 Years ■ CITY OF LAKE ELSINORE ICE BofAML 1 -5 Year U.S. Treasury Index PFM Asset Management LLC 11 CITY OF LAKE ELSINORE Portfolio /Benchmark For the Quarter Ended September 30, 2020 Portfolio Performance Portfolio Performance (Total Return) Annualized Return Effective Current Duration Quarter 1 Year 3 Year 5 Year 10 Year Since Inception (09/30/10) CITY OF LAKE ELSINORE 2.76 0.27% 4.85% 3.43% 2.55% 2.04% 2.04% ICE BofAML 1 -5 Year U.S. Treasury Index 2.58 0.13% 4.60% 3.18% 2.19% 1.72% 1.72% Difference 0.14% 0.25% 0.25% 0.36% 0.32% 0.32% PFM Asset Management LLC 3 Year 5 Year 10 Year Since Inception ICE BofAML 1 -5 Year U.S. Treasury Index 12 5.0% 4.85% 4. 4.0% 3.0% w d �a p 2.0% I— 1.0% 0.0% 0.27% 0.13 ° /a Current Quarter 1 Year ■ CITY OF LAKE ELSINORE Portfolio performance is gross of fees unless otherwise indicated. PFM Asset Management LLC 3 Year 5 Year 10 Year Since Inception ICE BofAML 1 -5 Year U.S. Treasury Index 12 CITY OF LAKE ELSINORE Portfolio Earnings Quarter -Ended September 30, 2020 Market Value Basis For the Quarter Ended September 30, 2020 Portfolio Performance Accrual (Amortized Cost) Basis Beginning Value (06/30/2020) $32,179,109.78 $31,023,055.29 Net Purchases /Sales $116,099.35 $116,099.35 Change in Value ($71,275.45) $294,098.42 Ending Value (09/30/2020) $32,223,933.68 $31,433,253.06 Interest Earned $158,968.31 $158,968.31 Portfolio Earnings $87,692.86 $453,066.73 PFM Asset Management LLC 13 CITY OF LAKE ELSINORE Investment Strategy Outlook For the Quarter Ended September 30, 2020 Outlook • The U.S. and global economic recoveries have been stronger than expected. In the U.S., however, the pace of recovery appears to be slowing. Getting back to pre - pandemic growth and employment levels will likely be challenging. • Considering the economic uncertainties that remain, we plan on structuring portfolios to have neutral durations relative to their respective benchmarks. • Our outlook for major investment -grade sectors includes the following: • Agencies — The continued reach for yield and safety should pressure agency spreads back to pre - COVID levels. Given this backdrop, we plan to continue to add to allocations at current yield spreads, which remain historically wide. Value is concentrated in maturities of three years and longer. • Supranationals — Agencies are also more attractive than supranationals, whose spreads have tightened dramatically. Supply is expected to be light and value significantly limited as we head towards year end. • Corporates — Corporate liquidity is strong, and debt servicing costs are low, but we have concerns about the slowing of the economic recovery and the longer -term effects of increased leverage on corporate balance sheets. Another surge in COVID -19 cases, a stock market sell -off, rising geopolitical tensions, and the presidential election could be catalysts for a potential spike in volatility. Further, a global slowdown, trade conflicts, and a weaker dollar may continue to pressure industrial profits. On the other hand, rating agency downgrades have slowed materially, which is a positive, and the Fed's unprecedented support should help anchor spreads. As a result, corporates will remain a core, long -term holding in diversified portfolios, albeit over the near term, and we will continue to exercise caution. • Asset - Backed Securities (ABS) — The ABS sector outperformed Treasuries during September as spreads continued to tighten due to limited supply amid continuing economic recovery. Our expectation is for delinquency rates and net losses to increase as deferral programs start to phase out and the consumer feels the pinch from reduced federal unemployment benefits. However, we believe these factors will remain well within an acceptable range based upon PFM's stress tests. Value is now on par with the corporate sector. We will continue to be selective when evaluating new issues. • Taxable Municipals — The taxable municipal sector remains attractive even though valuations have increased. We remain focused on the largest issuers while exercising caution on many subsectors given the fiscal impact from COVID-19. Purchases in the sector will likely be made in new issues, which are expected to remain elevated. PFM Asset Management LLC 14 Issuer Distribution CITY OF LAKE ELSINORE Issuer Issuer Distribution As of September 30, 2020 Market Value ($) For the Quarter Ended September 30, 2020 Portfolio Composition % of Portfolio UNITED STATES TREASURY 12,390,457 38.4% FREDDIE MAC 3,594,505 11.1% FANNIE MAE 824,374 2.6% CAPITAL ONE FINANCIAL CORP 821,962 2.6% SWEDBANK AB 801,969 2.5% JP MORGAN CHASE & CO 701,356 2.2% ROYAL BANK OF CANADA 689,363 2.1% CARMAX AUTO OWNER TRUST 649,731 2.0% APPLE INC 561,908 1.7% FEDERAL HOME LOAN BANKS 501,573 1.6% AMAZON.COM INC 479,788 1.5% GM FINANCIAL SECURITIZED TERM 457,325 1.4% MORGAN STANLEY 440,082 1.4% GOLDMAN SACHS GROUP INC 438,839 1.4% PNC FINANCIAL SERVICES GROUP 435,356 1.4% AMERICAN HONDA FINANCE 422,488 1.3% THE WALT DISNEY CORPORATION 416,327 1.3% THE BANK OF NEW YORK MELLON CORPORATION 413,738 1.3% PFM Asset Management LLC 15 For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE Issuer Market Value ($) % of Portfolio Portfolio Composition SKANDINAVISKA ENSKILDA BANKEN AB 411,894 1.3% 16 Ad 303,178 0.9% NATIONAL RURAL UTILITIES CO FINANCE CORP 404,803 1.3% INTERNATIONAL FINANCE CORPORATION 282,376 1.3% EL HONDA AUTO RECEIVABLES 338,130 1.1% GM FINANCIAL AUTO LEASING TRUST 276,500 0.9% DEERE & COMPANY 256,828 1.0% TRUIST FIN CORP 327,363 1.0% FLORIDA ST HURRICAN CAT FUND 314,703 BMW FINANCIAL SERVICES NA LLC 303,178 0.9% IBM CORP 302,458 PEPSICO INC 282,376 0.9% VOLKSWAGEN OF AMERICA EndL GM FINANCIAL AUTO LEASING TRUST 276,500 0.9% 256,828 0.8% BANK OF AMERICA CO 255,332 0.8% CREDIT SUISSE GROUP RK 250,213 0.8% ypiiiiq�� CITIGROUP INC 813 CHARLES SCHWAB 238,763 0.7% CATERPILLAR INC rp 226,254 _ CAMP POOL 204,872 0.6% AMERICAN EXPRESS CO 201,953 ' PFM Asset Management LLC 16 CITY OF LAKE ELSINORE Issuer Market Value ($) For the Quarter Ended September 30, 2020 Portfolio Composition % of Portfolio HERSHEY COMPANY 178,073 0.6% BRISTOL -MYERS SQUIBB CO 143,388 0.4% PACCAR FINANCIAL CORP 142,421 0.4% STATE OF CONNECTICUT 140,852 0.4% STATE STREET CORPORATION 126,234 0.4% CHAFFEY CA JT UNION HS DIST 105,231 0.3% MINNESOTA ST 100,448 0.3% UNIVERSITY OF CALIFORNIA 85,352 0.3% WELLS FARGO & COMPANY 50,188 0.2% Grand Total: 32,223,934 100.0% PFM Asset Management LLC 17 CITY OF LAKE ELSINORE Quarterly Portfolio Transactions For the Quarter Ended September 30, 2020 Portfolio Activity Tran. Trade Settle Par ($) CUSIP Security Description Maturity Coupon Transact Realized Yield Type Yp Date Date 3137FKK39 Date Amt ($) G/L (BV) BUY 7/1/2M/6/20 aTERES /1/20 2,000,000.00 912828YIIWS TREASURY N/ 12/31/24 (2,131,195.65) 0.28% SELL 7/1/20 7/6/20 1,200,000.00 912828R69 US TREASURY N/B NOTES 1.62% 5/31/23 1,251,793.03 79,685.05 7/1/20 7/6/ 03F 800,000.00 912828R69 US TREASURY N/B NOTES 3136B1XP4 FNA 2018 -M5 A2 834,528.69 48,455.24 INTEREST 7/1/20 7125/20 100,017.45 3137FKK39 FHMS KP05 A 3.20% 7/1/23 266.96 aTERES /1/20 7/25/250,000.00 3137BGK24 IHMS K043 A2 3.06% `0 PAYDOWNS INTEREST 7/1/20 7/25/20 230,000.00 3137BM6P6 FHLMC SERIES K721 A2 3.09% 8/1/22 592.26 INTEREST 7/1/20 7/25/20 153,287.48 313661XP4 FNA 2018 -M5A2 INTEREST 7/1/20 7/25/20 103,343.42 3137FQ3V3 FHMS KJ27 Al 3.56% /1/ 2.09% 7/1/24 180.16 2018 -M5 A2 7,948.44 "00 PAYDOWNS 7/1/20 7/25/20 1,589.69 3136B1XP4 FNA 2018 -M5 A2 3.56% 9/1/21 1,589.69 0.00 �OW 7/1/2 /25/2 2.41 3137FKK3fiWHMS KP 3.20% `0 PAYDOWNS 7/1/20 7/25/20 193.58 3137FQ3V3 FHMS KJ27 Al 2.09% 7/1/24 193.58 0.00 PAYDOWNS 7/1/20 7/25/20 589.69 3136131XP4 FNA 2018 -M5 A2 3.56% 1,589.69 INTEREST 7/6/20 7/6/20 325,000.00 24422ETL3 JOHN DEERE CAPITAL CORP NOTES 2.65% 1/6/22 4,306.25 20 0 14913R2D8 FINL SERVICE CORPORATE (224,8 , N(;ATERPILLAR SELL 7/6/20 7/8/20 225,000.00 912828R69 US TREASURY N/B NOTES 1.62% 5/31/23 234,748.75 13,637.54 /8120 400,000.00 3814n GOLDMAN SACHS GROUP INC BONDS 3.85% ML7`8// 7,700.00 BUY 7/10/20 7/16/20 85,000.00 91412HGE7 UNIV OF CAL TXBL REV BONDS 0.88% 5/15/25 (85,000.00) 0.88% F INTEREST 7/15/20 7/15/20 800,000.00 14041NFUO COMET 2019 -A2 A2 1.72% 8/15/24 1,146.67 L INTEREST 7/15/20 7/15/20 375,000.00 43815AAC6 HAROT 2018 -4 A3 3.16% 1/15/23 987.50 PFM Asset Management LLC 18 For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE Portfolio Activity Tran. Trade Settle Par ($) CUSIP Security Description Coupon Maturity Transact Yield Realized Type YP Date Date Date Amt ($) G/L (BV) INTEREST 7/15/20 7/15/20 346,204.68 14313FAD1 CARMAX AUTO OWNER TRUST 3.13% 6/15/23 A03-A& INTEREST 7/15/20 7/15/20 350,000.00 14315EAC4 CARMAX AUTO OWNER TRUST 3.36% 9/15/23 980.00 �PAYDOWNS 7/15/20 20,325.32 1 ARMAX AUTO OWNER TRUST 3.13% 20,325.3 0.00 INTEREST 7116/20 7/16/20 270,000.00 36256XAD4 GMCAR 2019 -1 A3 2.97% 11/16/23 668.25 INTEREST /16/20 7/16/20 264,631.31 36255JAD6 GMCAR 2018 -3 A3 3.02% 5/16 665.99 PAYDOWNS 7/16/20 7/16/20 16,248.97 36255JAD6 GMCAR 2018 -3 A3 3.02% 5116123 16,248.97 0.00 362 /0 4,757.88 0.00 INTEREST 7/20/20 7/20/20 300,000.00 05586CAD6 BMWLT 2018 -1 A4 3.36% 3/20/22 840.00 7/20/20 7/20/2 5,000.00 2869BAD4 VALET 2018 -2 A3 3.25% 4/20/ 80.21 INTEREST 7/20/20 7/20/20 275,000.00 36256GAE9 GMALT 2018 -3 A4 3.30% 7/20/22 756.25 PAYDOWNS 7/20/20 7/20/20 9,423.02 92869BAD4 VALET 2018 -2 A3 3.25% 4/20/23 9,423.02 0.00 BUY 7/21/20 7/23/20 425,000.00 3137EAEU9 FREDDIE MAC NOTES 0.37% 7/21/25 (422,883.50) 0.48% rli- 7/21/20 //23/225,000.00 qP912828XX3 RY N/B NOTES 455,397.46 AM 22,583.38 INTEREST 7/23/20 7/23/20 400,000.00 693475AV7 PNC BANK NA CORP NOTES 3.50% 1/23/24 7,000.00 L INTEREST 8/1/20 8/1/20 100,000.00 157411TK5 CHAFFEY UHSD, CA TXBL GO BOND 2.10% 8/1/24 1,050.50 INTEREST 8/1/20 8/1/20 125,000.00 05531FAZ6 BRANCH BANKING & TRUST (CALLABLE) NOTES 2.15% 2/1/21 1,343.75 INTERES FHMS KP05 0 iiiiiiiiiiiiiiiiiiiiiililillll INTEREST 8/1/20 8/25/20 103,149.84 3137F03V3 FHMS KJ27 Al 2.09% 7/1/24 242,92 MITEREST 8/1/20 8/25/2 30,000.00.6137BM6P MHLMdlkERIES K721 A2 3.09% 8/1/ INTEREST 8/1/20 8/25/20 142,159.66 3136B1XP4 FNA2018 -M5A2 3.56% 9/1/21 425.97 INTEREST 8/1/20 8/25/20 250,000.00 3137BGK24 FHMS K043 A2 3.06% 12/1/24 637.92 PAYDOWNS 8/1/20 8/25/20 174.71 3137FKK39 FHMS KP05 A 3.20% 7/1/23 174.71 0.00 PFM Asset Management LLC 19 CITY OF LAKE ELSINORE For the Quarter Ended September 30, 2020 Portfolio Activity Tran. Trade Settle Par ($) CUSIP Security Description Maturity Coupon Transact Realized Yield Yp Type Date Date 0.00 Date Amt ($) G/L (BV) PAYDOWNS 8/1/20 8/25/20 12,590.34 3136B1XP4 FNA 2018 -M5 A2 3.56% 12,590.33 0.01 PAYDOWNS 8/1/20 8/25/20 2,518.07 3136131XP4 FNA 2018 -M5 A2 3.56% 9/1/21 2,518.07 0.00 L PAYDOWNS 9/1/2M L 2,752.88 3137FQ3V3 HMS KJ27 PAYDOWNS 8/1/20 8/25/20 2,518.07 3136131XP4 FNA 2018 -M5 A2 M I h 3.56% 9/1/21 2,518.07 0.00 0.00 MATURITY 8/3/20 8/3/20 540,000.00 96121T4A3 WESTPAC BANKING CORP NY CD 2.05% 9/15/ 545,412.00 INTEREST 0.00 MATURITY 8/3/20 813/20 100,000.00 96121T4A3 WESTPAC BANKING CORP NY CD 2.05% 8/3/20 101,002.22 8/15/20 0.00 MATURITY 2018 -4 A 00.00�EU9 AL C RT DEP 987.50 PAYDOWNS 8/15/20 8/15/20 17,277.37 43815AAC6 691,610.48 3.16% 0.00 MATURITY 8/3/20 8/3/20 100,000.00 96121T4A3 WESTPAC BANKING CORP NY CD 2.05% 8/3/20 101,002.22 969.9 0.00 0.00 8/16/20 8/5/2 /5/200,000.00 36255JAD6 44932HAG8 IBM CORP CORP NOTES A 2.65% IIIIIIIIIIIIIIIINTERES 8/16/20 8/16/20 BUY 8/5/20 8/7/20250,000.00 2.97% 225491-6F7 CREDIT SUISSE NEW YORK CERT DEPOS 0.52% 2/1/22 (250,000.00) 0.52% 36255JAD6 GMCAR 2018 -3 A3 8/5/20 8/7/2W 500,000.00 912828YY0 US TREASURY N/B 12/31/24 (535, 59) 0 BUY 8/11/20 8/14/20 200,000.00 89236THF5 TOYOTA MOTOR CREDIT CORP CORPORATE 0.50% 8/14/23 (199,846.00) 0.53% NOTES wu—y INTEREST w 11/20 8/25/20 100,000.00 60412AVJ9 8/15/20 8/15/20 800,000.00 14041NFUO MN ST TXBL GO BONDS 1/25 Jr (100,000.00) 0.63% COMET 2019 -A2 A2 1.72% 8/15/24 1,146.67 PFM Asset Management LLC 20 8/15/20 8/15/2 000.00 14315EAC4 CARMAX AUTO OWNER TRUST AL 3.36% 9/15/ 0.00 INTEREST 8/15/20 8/15/20 325,879.36 14313FAD1 CARMAX AUTO OWNER TRUST 3.13% 6/15/23 850.00 INTEREST 8115120 8/15/20 375,000.00 43815AAROT 2018 -4 A 3.16% 1/15/23 987.50 PAYDOWNS 8/15/20 8/15/20 17,277.37 43815AAC6 HAROT 2018 -4 A3 3.16% 1/15/23 17,277.37 0.00 5AYDOWNS 8/15/20 969.9 0.00 INTEREST 8/16/20 8/16/20 248,382.34 36255JAD6 GMCAR 2018 -3 A3 3.02% 5/16/23 IIIIIIIIIIIIIIIINTERES 8/16/20 8/16/20 265,242.12 36256XAD4 &MCAR 201 9-A 2.97% 11/16 656. PAYDOWNS 8/16/20 8/16/20 16,615.06 36255JAD6 GMCAR 2018 -3 A3 3.02% 5/16/23 16,615.06 0.00 PFM Asset Management LLC 20 For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE Portfolio Activity Tran. Trade Settle Par ($) CUSIP Security Description Coupon Maturity Transact Yield Realized Type Yp Date Date Date Amt ($) G/L (BV) PAYDOWNS 8/16/20 8/16/20 15,564.76 36256XAD4 GMCAR 2019 -1 A3 2.97% 11/16/23 5,564.76 0.00 BUY 8/18/20 8/20/20 225,000.00 06051GFS3 BANK OF AMERICA CORP NOTES 3.87% 8/1/25 (257,378.66) 0.93% SELL /18/20 ANK OF AMERICA CORP NOTES 3.49% 5/17/22 SELL 8/18/20 8/20/20 15,000.00 06051GHH5 BANK OF AMERICA CORP NOTES 3.49% 5117/22 15,461.39 325.80 8/18/20 8/20/20 35,000.00 06051 GGS2 BANK OF AMERICA CORP (CALLED OMD 10/01/2 2.32% 10/1/20 35,391.95 SELL 8/18/20 8120/20 35,000.00 06051 GGS2 BANK OF AMERICA CORP (CALLED OMD 10/01/2 2.32% 10/1120 35,391.95 77.35 8/20/20 000.00 25,599.57 SELL 8/18/20 8/20/20 75,000.00 06051GHH5 BANK OF AMERICA CORP NOTES 3.49% 5/17/22 77,306.93 1,629.00 8/18/ /20/2`0,000.00 06051 GGS2 BANK OF AMERICA CORP (CALLED OMD 10/01/2 2.32% Ahin/1�02,239.7.1 442.00-6 BUY 8/19/20 8/21/20 900,000.00 3137EAEV7 FREDDIE MAC NOTES 0.25% 8/24/23 (899,082.00) 0.28% 8/19/20 8/21/20 825,000.00 912828R69— US TREASURY N/B NOTES 1/23 861,519.22 47,021.09 SELL 8/19/20 8/21/20 75,000.00 912828R69 US TREASURY N/B NOTES 1.62% 5/31/23 78,319.92 4,410.44 JIFIMT 1 qF05586CAD6 BMWLT 2018 -1 A4 3.36% _ INTEREST 8/20/20 8/20/20 315,576.98 92869BAD4 VALET 2018 -2 A3 3.25% 4/20/23 854.69 REST 8/20/20 8/20120 275,000.00 36256GAE9 GMALT 2018 -3 A4 3.30% W/20 56.25 PAYDOWNS 8/20/20 8/20/20 21,357.62 92869BAD4 VALET 2018 -2 A3 3.25% 4/20/23 21,357.62 0.00 BUY 8/25/20 E MAE NOTES ,362.00) INTEREST 8/26/20 8/26/20 400,000.00 83050PDR7 SKANDINAV ENSKILDA BANK LT CD 1.86% 8/26/22 3,761.33 BUY 8/28/20 9/1/20 1TIGROUP INC CORP NC&S ML 3.30% 4/27/25 (252,296.25) 0.8 _ AL SELL 8/28/20 9/1/20 300,000.00 904764AZO UNILEVER CAPITAL CORP NOTES 2.75% 3/22/21 307,912.75 4,551.54 INTEREST 8/30120 8/30/20 400,000.00 254687FK7 WALT DISNEY COMPANY/TH 1.75% 8/30/24 3,538.89 INTEREST 9/1/20 9/25/20 230,000.00 3137BM6P6 FHLMC SERIES K721 A2 3.09% 8/1/22 592.26 PFM Asset Management LLC 21 For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE 9/1/20 9/25/20 � 523.27 3136B1XP4 018 -M5 INTERNATIONAL FINANCE COR Portfolio Activity Tran. Trade Settle Par ($) CUSIP Security Description Coupon Maturity Transact Realized Yield Type Date Yp Date 375,000.00 3137EAEW5 FREDDIE MAC NOTE 0.25% 9/8/23 Date Amt ($) G/L (BV) INTEREST 9/1/20 9/25/20 99,660.33 3137FKK39 FHMS KP05 A 3.20% NOTE g 9/4/20 "1 INTEREST 9/1/20 9/25/20 124,533.19 3136B1XP4 FNA 2018 -M5 A2 3.56% 9/1/21 370.55 341271AD6 FL ST BOARD OF ADMIN TXBL REV BONDS 1.25% 7/1/25 100,396.96 3137FQ3V3 J &MS KJ27 9/16120 85,000.00 341271AD6 FL ST BOARD OF ADMIN TXBL REV BONDS 1.25% INTEREST 9/1/20 9/25/20 250,000.00 3137BGK24 FHMS K043 A2 3.06% 12/1/24 637.92 9/12/20 PAYDOWNS 9/1/20 9/25/20 3137FQ3V3 FHMS KJ27 Al 2.09% NOTE 0.00 173.89 73.89 16- PAYDOWNS 9/1/20 9125/20 44,482.62 3137FKK39 FHMS KP05 A 3.20% 7/1/23 44,482.62 0.00 J�EEW,616.34 1 XP4 5 A2 PAYDOWNS 9/1/20 9/25/20 523.27 3136B1XP4 FNA 2018 -M5 A2 3 2,616.34 0.00 3.56% 9/1/21 523.27 0.00 AYDOWNS 9/1/20 9/25/20 � 523.27 3136B1XP4 018 -M5 INTERNATIONAL FINANCE COR .0� BUY 9/2/20 9/4/20 525,000.00 3137EAEW5 FREDDIE MAC NOTES 0.25% 9/8/23 (524,826.75) 0.26% 9/4/25 9/2/20 9 4 20 375,000.00 3137EAEW5 FREDDIE MAC NOTE 0.25% 9/8/23 (375,068.48) SELL 9/2/20 9/4/20 700,000.00 912828R69 US TREASURY N/B NOTES 1.62% 5/31/23 731,311.74 39,628.94 NOTE 9/2/20 9/4/20 "1 200,000.00 1912828R69ASURY N/B NOTES MATURITY 9/12/20 208,946.21 BUY 9/3/20 9/16/20 65,000.00 341271AD6 FL ST BOARD OF ADMIN TXBL REV BONDS 1.25% 7/1/25 (65,459.55) 1.11% 9/3/20 9/16120 85,000.00 341271AD6 FL ST BOARD OF ADMIN TXBL REV BONDS 1.25% 7/1/25 (85,563.55) BUY 9/3/20 9/16/20 160,000.00 341271AD6 FL ST BOARD OF ADMIN TXBL REV BONDS 1.25% 7/1/25 (160,000.00) 1.26% INTEREST 0.00 45950VLQ7 INTERNATIONAL FINANCE COR 5,272.00 BUY 9/10/20 9/11/20 150,000.00 3130AK5E2 FEDERAL HOME LOAN BANK NOTES 0.37% 9/4/25 (149,550.00) 0.44% INTEREST 9/12/20 9/12/20 0.00 45905UP32 INTL BANK OF RECONSTRUCTION AND DEV 1.56% 9/12/20 2,538.25 NOTE MATURITY 9/12/20 9/12/20 125,000.00 45905UP32 INTL BANK OF RECONSTRUCTION AND DEV 1.56% 9/12/20 125,000.00 0.00 NOTE MATURITY 9/12/20 9/12/20 50,000.00 45905UP32 INTL BANK OF RECONSTRUCTION AND DEV 1.56% 9/12/20 50,000.00 0.00 NOTE PFM Asset Management LLC Vj For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE 3743HE UTIL COOP NOTE Portfolio Activity Tran. Trade Settle Par ($) CUSIP Security Description Coupon Maturity Transact Realized Yield Yp Type Date Date A04,90M MARMAX AUTO OWNER TRUST 3.13% Date Amt ($) G/L (BV) MATURITY 9/12/20 9/12/20 150,000.00 45905UP32 INTL BANK OF RECONSTRUCTION AND DEV 1.56% 9/12/20 150,000.00 0.00 9/15/20 350,000.00 14315EAC4 CARMAX AUTO OWNER TRUST 3.36% NOTE PAYDOWNS 9/15/20 9/15/20 25,679.23 9/14/20 9/14/2 0 00&546 1/15/23 WALT DISNEY COMPANYAF It AYDOWNS 8/30 9/15/20 9�345.10 INTEREST 9/14/20 9/14/20 0.00 254687FK7 WALT DISNEY COMPANY/THE 1.75% 8/30/24 3,500.00 36256XAD4 INTEREST 9/14/20 9/14/20 0.00 254687FK7 WALT DISNEY COMPANY/THE 1.75% 8/30/24 (3,538.89) GMCAR 2018 -3 A3 J& INTEREST 9/14/20 9/14/20 0.00 254687FK7 WALT DISNEY COMPANY/THE 1.75% 8/30/24 3,383.33 2.97% MMrNTEREST 3743HE UTIL COOP NOTE , INTEREST 9/15/20 9/15/20 357,722.63 43815AAC6 HAROT 2018 -4 A3 3.16% 1/15/23 942.00 TEREST 9/15/20 9/15/20 A04,90M MARMAX AUTO OWNER TRUST 3.13% INTEREST 9/15/20 9/15/20 800,000.00 14041NFUO COMET 2019 -A2 A2 1.72% 8/15/24 1,146.67 I ETN REST 9/15/20 9/15/20 350,000.00 14315EAC4 CARMAX AUTO OWNER TRUST 3.36% PAYDOWNS 9/15/20 9/15/20 25,679.23 43815AAC6 HAROT 2018 -4 A3 3.16% 1/15/23 25,679.23 0.00 It AYDOWNS 9/15/20 9/15/20 9�345.10 1-113FAD1 MARMAX AUTO OWNER TRUST 3.13% w 4 INTEREST 9/16/20 9116120 249,677.36 36256XAD4 GMCAR 2019 -1 A3 2.97% 11/16/23 617.95 INTEREST L 9/16/20 9/16/20 231,767.28 36255JAD6 GMCAR 2018 -3 A3 J& 3.02% PAYDOWNS 9/16/20 9/16/20 15,576.91 36256XAD4 GMCAR 2019 -1 A3 2.97% 11/16/23 15,576.91 0.00 VIDOWNS 36255J�6 A3 16,775.46 0.00 INTEREST 9/20/20 9/20/20 300,000.00 05586CAD6 BMWLT 2018 -1 A4 3.36% 3/20122 840.00 9/20/ /20/2 275,000.00 36256GAE9 MALT 2018 -3 A4 3.30% 7/20 756.25 INTEREST 9/20/20 9/20/20 294,219.36 92869BAD4 VALET 2018 -2 A3 3.25% 4/20/23 796.84 PAYDOWNS 9/20/20 9/20 20 21,896.17 92869BAD4 VALET 2018 -2 A3 3.25% 7T BUY 9/23/20 9/25/20 700,000.00 3137EAEX3 FREDDIE MAC NOTES 0.37% 9/23/25 (697,893.00) 0.44% PFM Asset Management LLC ,000.00 912828XX3 US TREASURY N/B NOTES 23 For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE Portfolio Activity Tran. Trade Settle Maturity Transact Realized Type Date Date Par ($) CUSIP Security Description Coupon Date Amt ($) Yield G/L (BV) BUY 9/24/20 9/28/20 225,000.00 002824BM1 ABBOTT LABORATORIES CORPORATE NOTES 3.87% 9/15/25 (258,160.34) 0.86% (CAL SELL 9/24/20 9/28,000.00 912828XX3 USURY N/B NOTE 2.00% 6/30 241,296.83 11,520.31 BUY 9/29/20 9/30/20 125,000.00 110122DC9 BRISTOL -MYERS SQUIBB CO CORPORATE 3.87% 8/15/25 (143,440.47) 0.88% NOTES SELL 9/29/20 9/30/20 125,000.00 912828XX3 US TREASURY N/B NOTES 134,135.74 6,471.51 TOTALS 117,774.66 308,333.18 PFM Asset Management LLC 24 Portfolio Holdings CITY OF LAKE ELSINORE Managed Account Detail of Securities Held For the Quarter Ended September 30, 2020 Portfolio Holdings Security Type /Description S &P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value U.S. Treasury Bond / Note 912828XX3 2,700,000.00 AA+ Aaa 1/2/2020 1/7/2020 2,739,761.72 1.66 13,646.74 2,733,248.19 DTD 06/30/2017 2.000% 06/30/2024 US TREASURY NOTES 912828N48 15,000.00 AA+ Aaa 5/27/2016 5/31/2016 15,268.94 2.24 66.34 15,014.61 15,060.94 DTD 12/31/2015 1.750% 12/31/2020 US TREASURY N/B 912828YYO 500,000.00 AA+ Aaa 8/5/2020 8/7/2020 534,414.06 0.18 2,211.28 533,236.23 DTD 12/31/2019 1.750% 12/31/2024 US TREASURY NOTES 912828A83 10,000.00 AA+ Aaa 3/30/2016 3/31/2016 10,502.34 2.51 60.02 10,026.33 10,056.25 DTD 12/31/2013 2.375% 12/31/2020 DTD 12/31/2019 1.750% 12/31/2024 US TREASURY N/B NOTES 912828R69 2,875,000.00 AA+ /7/2019 2,852,426.76 1.83 15,700.56 2,859,909.77 2,987,754.05 DTD 05/31/2016 1.625% 05/31/2023 US TREASURY NOTES 912828T91 1,650,000.00 AA+ Aaa 7/1/2019 7/3/2019 1,639,107.42 1.78 11,220.45 1,642,249.11 1,723,992.27 DTD 10/31/2016 1.625% 10/31/2023 912828791 1,000,000.00 AA+ as 10/2/2019 10/4/2019 1,005,742.19 1.48 6,800.27 1,004,341.37 1,044,843.80 DTD 10/31 /2016 1.625% 10/31/2023 i r _ US TREASURY N/B NOTES 912828XX3 500,000.00 AA+ Aaa 3/2/2020 3/6/2020 524,355.47 0.85 2,527.17 521,127.64 533,593.75 DTD 06/30/2017 2.000% 06/30/2024 US TREASURY N/B NOTES 912828XX3 175,000.00 AA+ Aaa 11/1/2019 11/6/2019 178,541.01 1.55 qw884.W 177,852.83 186,757.81 DTD 06/30/2017 2.000% 06/30/2024 US TREASURY N/B NOTES 912828XX3 2,700,000.00 AA+ Aaa 1/2/2020 1/7/2020 2,739,761.72 1.66 13,646.74 2,733,248.19 DTD 06/30/2017 2.000% 06/30/2024 US TREASURY N/B NOT 912828XX3 325,000.00 AA+ /3/2020 2/7/2020 3,823.2 LOW 1,642.66 332,520.37 DTD 06/30/2017 2.000% 06/30/2024 US TREASURY N/B 912828YYO 500,000.00 AA+ Aaa 8/5/2020 8/7/2020 534,414.06 0.18 2,211.28 533,236.23 DTD 12/31/2019 1.750% 12/31/2024 US TREASURY N/B 912828YY0 2,000,000.00 AA+ 2,130,625.00 0.28 8,845. 2,123,691.28 DTD 12/31/2019 1.750% 12/31/2024 2,881,406.25 346,835.94 532,031.25 2,128,125.00 Security Type Sub -Total 11,750,000.00 11,964,568.15 1.36 63,605.11 11,953,217.73 12,390,457.31 Supra - National Agency Bond / Note INTERNATIONAL FINANCE 45950VL07 50,000.00 AAA Aaa 3/9/2018 3/16/2018 49,962.50 2.97 80.51 49,994.52 50,523.20 CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 PFM Asset Management LLC CITY OF LAKE ELSINORE For the Quarter Ended September 30, 2020 Portfolio Holdings Security Type Sub -Total 730,000.00 734,845.85 1.25 1,498.32 734,629.18 746,585.85 PFM Asset Management LLC 26 Managed Account Detail of Securities Held Security Type /Description S &P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Supra - National Agency Bond / Note INTERNATIONAL FINANCE 45950VLQ7 50,000.00 AAA Aaa 3/9/2018 3/16/2018 49,962.50 2.97 80.51 49,994.52 50,523.20 CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 INTERNATIONAL FINANCE 45950VLQ7 300,000.00 AAA Aaa 3/9/2018 3/16/2018 299,775.00 2.66 483.08 299,967.15 303,139.20 CORPORATION NOTE DTD 03/16/2018 2.635% 03/09/2021 Security Type Sub -Total 400,000.00 399,700.00 2.74 644.10 399,956.19 404,185.60 Municipal Bond / Note CT ST TXBL GO BONDS 20772KJWO 60,000.00 A Al 5/29/2020 6/11/2020 60,000.00 2.00 366.30 60,000.00 62,244.00 DTD 06/11 /2020 1.998% 07/01 /2024 CHAFFEY UHSD, CA TXBL GO BONDS 157411TK5 100,000.00 AA- Aal 11/6/2019 12/5/2019 100,000.00 2.10 350.17 100,000.00 105,231.00 DTD 12/05/2019 2.101% 08/01/2024 UNIV OF CAL TXBL REV BONDS 91412HGE7 85,000.00 AA Aa2 7110/2020 7/16/2020 85,000.00 0.88 156.36 85,000.00 85,351.90 DTD 07/16/2020 0.883% 05/15/2025 CT ST T/E GO BONDS 20772KKK4 75,000.00 A Al 6/12/2020 6/25/2020 78,822.75 0.94 400.00 78,614.85 78,608.25 DTD 06/25/2020 2.000% 06/01/2025 FL ST BOARD OF ADMIN TXBL REV 341271AD6 65,000.00 AA Aa3 9/3/2020 9/16/2020 65,459.55 1.11 34.07 65,455.61 65,986.05 BONDS DTD 09/16/2020 1.258% 07/01/2025 FL ST BOARD OF ADMIN TXBL REV 341271AD6 160,000.00 AA Aa3 9/3/2020 9/16/2020 160,000.00 1.26 83.87 160,000.00 162,427.20 BONDS DTD 09/16/2020 1.258% 07/01/2025 FL ST BOARD OF ADMIN TXBL REV 341271AD6 85,000.00 AA Aa3 9/3/2020 9/16/2020 85,563.55 1.12 44.55 85,558.72 86,289.45 BONDS DTD 09/16/2020 1.258% 07/01/2025 MN ST TXBL GO BONDS 60412AVJ9 100,000.00 AAA Aal 8/11/2020 8/25/2020 100,000.00 0.63 63.00 100,000.00 100,448.00 DTD 08/25/2020 0.630% 08/01/2025 Security Type Sub -Total 730,000.00 734,845.85 1.25 1,498.32 734,629.18 746,585.85 PFM Asset Management LLC 26 CITY OF LAKE ELSINORE For the Quarter Ended September 30, 2020 Portfolio Holdings Managed Account Detail of Securities Held Security Type /Description S &P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Federal Agency Collateralized Mortgage Obligation 3137EAEV7 FHMS KP05 A 3137FKK39 55,177.71 AA+ Aaa 12/7/2018 12/17/2018 DTD 12/01/2018 3.203% 07/01/2023 8/19/2020 FHMS KJ27 Al 3137FQ3V3 100,223.07 AA+ Aaa 11/20/2019 11/26/2019 DTD 11/01/20192.092 %07/01/2024 F�018 -M5 A2 136B1XP4 17,267.19 FHMS K043 A2 Aaa 4/11/2018 4/30/2018 10.65 3.11 51.23 DTD 04/01 /2018 3.560% 09/01 /202 FREDDIE MAC NOTES 3137EAEW5 375,000.00 AA+ Aaa 9/2/2020 914/2020 FNA 2018 -M5 A2 3136131XP4 17,267.19 AA+ Aaa 4/11/2018 4/30/2018 17,610.65 3.11 51.23 DTD 04/01/2018 3.560% 09/01/2021 FREDDIE MAC NOTES 3137EAEW5 525,000.00 AA+ Aaa _ 9/4/2020 524,826.75 0.26 98.44 524,831.01 DTD 09/04/2020 0.250% 09/08/2023 14 FNA 2018 -M5 A2 3136B1XP4 86,335.94 AA+ Aaa 11/2018 4/30/201 88,053.24 2.93 256 DTD 04/01/2018 3.560% 09/01/2021 Aaa 4/15/2020 4/1612020 348,264.00 0.60 802.08 348,423.89 DTD 04/16/2020 0.500% 04/14/2025 FHLMC SERIES K721 A2 3137BM6P6 160,000.00 AA+ Aaa 4/4/2018 4/9/2018 161,362.50 2.88 412.00 DTD 12/01/2015 3.090% 08/01/2022 SERIL-5 M2 I AZ 3137BM6P6 35,000.00 AA+ /4/2 4/9/2018 35,298.05 3.08 90.12 LL/01/2015 3 non0022 FHLMC SERIES K721 A2 3137BM6P6 35,000.00 AA+ Aaa 4/4/2018 4/9/2018 35 298.05 3.09 90.12 DTD 12/01/2015 3.090% 08/01/2022 3137EAEV7 FHMS KP05 A 3137FKK39 55,177.71 AA+ Aaa 12/7/2018 12/17/2018 DTD 12/01/2018 3.203% 07/01/2023 8/19/2020 FHMS KJ27 Al 3137FQ3V3 100,223.07 AA+ Aaa 11/20/2019 11/26/2019 DTD 11/01/20192.092 %07/01/2024 250.00 899,116.28 ■ FHMS K043 A2 3137BGK24 250,000.00 AA+ Aaa 3/19/2020 3/25/2020 DTD 03/01/2015 3.062% 12/01/20 Security Type Sub -Total 756,271.09 Federal Agency Bond / Note 55,177.54 3.20 100,220.66 2.09 X62,382.81 1.95 773,014.15 2.52 147.28 174.72 637.92 1,910.75 17,358.43 17,358.43 86,792.13 160,578.74 35,126.60 35,126.60 55,177.61 100,221.10 261,008.55 768,748.19 FREDDIE MAC NOTES 3137EAEV7 900,000.00 AA+ Aaa 8/19/2020 8121/2020 899,082.00 0.28 250.00 899,116.28 DTD 08/21/2020 0.250% 08/24/2023 FREDDIE MAC NOTES 3137EAEW5 375,000.00 AA+ Aaa 9/2/2020 914/2020 375,068.48 0.24 70.31 375,066.80 DTD 09/04/2020 0.250% 09/08/2023 FREDDIE MAC NOTES 3137EAEW5 525,000.00 AA+ Aaa 9/2/2020 9/4/2020 524,826.75 0.26 98.44 524,831.01 DTD 09/04/2020 0.250% 09/08/2023 FEDERAL HOME LOAN BANK NOTES 3130AJHU6 350,000.00 AA+ Aaa 4/15/2020 4/1612020 348,264.00 0.60 802.08 348,423.89 DTD 04/16/2020 0.500% 04/14/2025 PFM Asset Management LLC 17,385.59 i 17, 385.59 86,927.95 164,860.92 36,063.33 36,063.33 57,150.86 103,446.35 274,229.68 793,513.60 900,602.10 375,144.75 525,202.65 351,597.75 27 CITY OF LAKE ELSINORE Managed Account Detail of Securities Held For the Quarter Ended September 30, 2020 Portfolio Holdings Security Type /Description S &P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Federal Agency Bond / Note 2.67 IL 1,236.67 299,982.95 DTD 10/26/2017 2.150% 02/01/2021 174,259.75 3.05 225.56 IBM CORP CORP NOTES 44932HAG8 300,000.00 A FANNIE MAE NOTES 3135G03U5 350,000.00 AA+ Aaa 4122/2020 4/24/2020 349,279.00 0.67 953.99 349,342.25 353,579.80 DTD 04/24/2020 0.625% 04/22/2025 NATIONAL RURAL UTIL COOP NOTE MW 25,000.00 A A2 4/12/2018 4/19/20181 DTD 02/26/2018 2.900% 03/15/2021 FREDDIE MAC NOTES EAEU9 425,000.00 AA+ /21/2020 7/23/2020 422,883.50 0.48 422,964.73 423,922.20 DTD 07/23/2020 0.375% 07/21/2025 FANNIE MAE NOTES 3135G05X7 350,000.00 AA+ Aaa 8/25/2020 8/27/2020 348,362.00 0.47 123.96 348,393.43 349,095.25 DTD 08/27/2020 0.375% 08/25/2025 T FEDERAL HOME LOAN BANK NOTES 3130AK5E2 150,000.00 AA +rAaa 9/10/2020 9/11/2020 149,550.00 0.44 31.25 149,554.95 149,975.40 DTD 09/11/2020 0.375% 09/04/2025 FREDDIE MAC NOTES 3137EAEX3 700,000.00 AA+ Aaa 9/23/2020 9/25/2020 697,893.00 0.44 43.75 697,899.93 697,818.80 DTD 09/25/2020 0.375% 09/23/2025 Security Type Sub -Total Corporate Note 4,125,000.00 WELLS FARGO & COMPANY NOTES 94974BGR5 50,000.00 BBE DTD 12/07/2015 2.550% 12/07/2020 BRANCH BANKING & TRUST 05531 FAZE 75,000.00 A- (CALLABLE) NOTES DTD 10/26/2017 2.150% 02/01/2021 4,115,208.73 0.40 6/2016 5/10/2016 51,108.00 A3 10/23/2017 10/26/2017 74,965.50 2.96 2.17 2,674.82 403.75 268.75 4,115,593.27 4,126,938.70 50,045.07 50,187.50 74,996.45 75,375.60 BRANCH BANKING & TRU 05531 FAZE 25,000.00 A- A3 10/23/2017 10/26/2017 24,988.50 3.00 89.58 24,998.82 25,125.20 (CALLABLE) NOTES AL AL AL AL A DTD 10/26/2017 2.150% 02/01/2021 BRANCH BANKING & TRUST 05531 FAZE 25,000.00 A- A3 10/23/2017 10/26/2017 24,988.50 3.00 89.58 24,998.82 25,125.20 (CALLABLE) NOTES 2.67 IL 1,236.67 299,982.95 DTD 10/26/2017 2.150% 02/01/2021 174,259.75 3.05 225.56 IBM CORP CORP NOTES 44932HAG8 300,000.00 A A2 2/1/2018 2/6/2018 DTD 02/06/2018 2.650% 02/05/20 24,983.55 NATIONAL RURAL UTIL COOP NOTE 63743HER9 175,000.00 A A2 4/12/2018 4/19/2018 DTD 02/26/2018 2.900% 03/15/2021 NATIONAL RURAL UTIL COOP NOTE MW 25,000.00 A A2 4/12/2018 4/19/20181 DTD 02/26/2018 2.900% 03/15/2021 PFM Asset Management LLC 299,853.00 2.67 IL 1,236.67 299,982.95 174,259.75 3.05 225.56 174,884.88 24,894.25 3.18 32.22 24,983.55 302,457.60 177,101.40 25,300.20 28 For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE Portfolio Holdings Managed Account Detail of Securities Held Security Type /Description S &P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Corporate Note NATIONAL RURAL UTIL COOP NOTE 63743HER9 125,000.00 A A2 2121/2018 2/26/2018 124,861.25 2.94 161.11 124,979.43 126,501.00 DTD 02/26/2018 2.900% 03/15/2021 NATIONAL RURAL UTIL COOP NOTE 63743HER9 25,000.00 A A2 4/12/2018 4/19/2018 24,972.25 3.18 32.22 24,995.68 25,300.20 DTD 02/26/2018 2.900% 03/15/2021 NATIONAL RURAL UTIL COOP NOTE 63743HER9 25,000.00 A A2 2/21/2018 2/26/2018 24,972.25 3.17 32.22 24,995.89 25,300.20 DTD 02/26/2018 2.900% 03/15/2021 NATIONAL RURAL UTIL COOP NOTE 63743HER9 25,000.00 A A2 2/21/2018 2/26/2018 24,894.25 3.17 32.22 24,984.32 25,300.20 DTD 02/26/2018 2.900% 03/15/2021 TOYOTA MOTOR CREDIT CORP 89236TEU5 50,000.00 A+ Al 4/10/2018 4/13/2018 49,980.00 3.05 688.33 49,996.46 50,646.15 NOTES DTD 04/13/2018 2.950% 04/13/2021 BANK OF NEW YORK MELLON CORP 06406FAAl 50,000.00 A Al 5/16/2016 5/19/2016 51,149.00 2.90 576.39 50,107.66 50,497.45 (CALLABLE) JL DTD 02/19/2016 2.500% 04/15/2021 BANK OF NEW YORK MELLON CORP 06406FAAl 100,000.00 A Al 5/16/2016 5/19/2016 102,326.00 2.00 1,152.78 100,232.76 100,994.90 (CALLABLE) DTD 02/19/2016 2.500% 04/15/2021 PEPSICO INC CORP (CALLABLE) 713448DX3 40,000.00 A+ Al 10/5/2017 10/10/2017 39,992.00 2.78 368.89 39,998.78 40,339.40 NOTE CAD 10/10/2017 2.000% 04/15/2021 PEPSICO INC CORP (CALLABLE) 713448DX3 200,000.00 A+ Al 10/5/2017 10/10/2017 199,960.00 2.01 1,844.44 199,993.89 201,697.00 NOTE DTD 10/10/2017 2.000% 04/15/2021 BANK OF NEW YORK MELLON CORP 06406FAAl 50,000.00 A Al 5/16/2016 5/19/20161iff 51,149.00 2.90 576.39 50,107.66 50,497.45 (CALLABLE) AL DTD 02/19/2016 2.500% 04/15/2021 PEPSICO INC CORP (CALLABLE) 713448DX3 40,000.00 A+ Al 10/5/2017 10/10/2017 39,992.00 2.78 368.89 39,998.78 40,339.40 NOTE DTD 10/10/2017 2.000% 04/15/2021 AMERICAN EXPRESS CREDIT 0258MOEB1 200,000.00 A- A2 5/25/2016 5/31/2016 199,536.00 2.30 1,825.00 199,944.32 201,953.00 (CALLABLE) NOTES DTD 05/05/2016 2.250% 05/05/2021 PFM Asset Management LLC 29 For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE Portfolio Holdings Managed Account Detail of Securities Held Security Type /Description S &P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Corporate Note BRANCH BANKING & TRUST 05531 FAV5 25,000.00 A- A3 5/10/2016 5/16/2016 24,983.50 2.78 200.73 24,998.00 25,217.18 (CALLABLE) NOTE DTD 05/10/2016 2.050% 05/10/2021 BRANCH BANKING & TRUST 05531 FAV5 150,000.00 A- A3 5/10/2016 5/16/2016 149,901.00 2.06 1,204.37 149,987.98 151,303.05 (CALLABLE) NOTE DTD 05/10/2016 2.050% 05/10/2021 BRANCH BANKING & TRUST 05531 FAV5 25,000.00 A- A3 5/10/2016 5/16/2016 24,983.50 2.78 200.73 24,998.00 25,217.17 (CALLABLE) NOTE DTD 05/10/2016 2.050% 05/10/2021 PACCAR FINANCIAL CORP 69371RP26 100,000.00 A+ Al 5/7/2018 5110/2018 99,974.00 3.11 1,214.16 99,994.76 101,729.30 DTD 05/10/2018 3.100% 05/10/2021 PACCAR FINANCIAL CORP 69371 RP26 20,000.00 A+ Al 5/7/2018 5/10/2018 19,994.80 3.07 242.83 19,998.95 20,345.86 DTD 05/10/2018 3.100% 05/10/2021 PACCAR FINANCIAL CORP 69371RP26 20,000.00 A+ Al 5/7/2018 5/10/2018 19,994.80 3.07 242.83 19,998.95 20,345.86 DTD 05/10/2018 3.100% 05/10/20 HERSHEY COMPANY CORP NOTES 427866BA5 125,000.00 A Al 5/3/2018 5/10/2018 124,913.75 3.12 1,463.89 124,982.30 127,194.87 DTD 05/10/2018 3.100% 05/15/2021 HERSHEY COMPANY CORP NOTES 427866BA5 25,000.00 A Al 5/3/2018 5/10/2018 24,982.75 3.09 292.78 24,996.46 25,438.98 DTD 05/10/2018 3.100% 05/15/2021 HERSHEY COMPANY CORP NOTES 427866BA5 25,000.00 A Al 5/3/2018 5/10/2018 24,982.75 3.09 292.78 24,996.46 25,438.98 DTD 05/10/2018 3.100% 05/15/2021 STATE STREET CORP NOTES 857477AV5 25,000.00 A Al 5/19/2016 5/24/2016 24,905.50 2.64 178.75 24,988.06 25,246.75 DTD 05/19/2016 1.950% 05/19/2021 STATE STREET CORP NOTES 857477AV5 25,000.00 A Al 5/19/2016 5/24/2016 24,905.50 2.64 178.75 24,988.06 25,246.75 DTD 05/19/2016 1.950% 05/19/2021 STATE STREET CORP NOTES 857477AV5 75,000.00 A Al 5/19/2016 5/24/2016 16.50 2.03 536. 74,9 75,740.25 DTD 05/19/2016 1.950% 05/19/2021 CHARLES SCHWAB CORP NOTES 808513AW5 35,000.00 A A2 5/17/2018 5/22/2018 34,998.95 3.18 410.76 34,999.78 35,560.49 DTD 05/22/2018 3.250% 05/21/2021 CHARLES SCHWAB CORP NOTES 808513AW5 200,000.00 A A2 5/17/2018 5/22/2018 199,994.00 3.25 2,347.23 199,998.73 203,202.80 DTD 05/22/2018 3.250% 05/21/2021 PFM Asset Management LLC 30 CITY OF LAKE ELSINORE Managed Account Detail of Securities Held For the Quarter Ended September 30, 2020 Portfolio Holdings Security Type /Description S &P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Corporate Note JOHN DEERE CAPITAL CORP NOTES 24422ETL3 275,000.00 A A2 3/10/2017 3/15/2017 273,787.25 2.75 1,720.66 274,681.29 282,862.53 DTD 01/06/2017 2.650% 01/06/2022 JOHN DEERE CAPITAL CORP NOTES 4422ETL3 50,000.00 A 3/10/2017 3/15/201 49,779.50 3.04 3 12.85 4 42. 51,429.55 DTD 01/06/2017 2.650% 01/06/2022 JPMORGAN CHASE & CO BONDS 46647PBB1 675,000.00 A- A2 3/15/2019 3/22/2019 675,000.00 3.21 10,823.63 675,000.00 701,356.05 DTD 03/22/2019 3.207% 04/01/2023 CATERPILLAR FINL SERVICE 14913R2D8 225,000.00 A A 224,874.00 0.67 337.19 224,883.79 226,254.38 CORPORATE NOTES CORPORATE NOTES DTD 07/07/2023 TOYOTA MOTOR CREDIT CORP 89236THF5 200,000.00 A+ Al 8/11/2020 8/14/2020 199,846.00 0.53 130.56 199,852.75 200,144.60 CORPORATE NOTES DTD 08/14/2020 0.500% 08/14/2023 PNC BANK NA CORP NOTES 693475AV7 400,000.00 A- A3 2/12/2019 2/15/2019 402,848.00 3.34 2,644.44 401,909.72 435,356.00 DTD 01/23/2019 3.500% 01/23/2024 MORGAN STANLEY CORP NOTES 61746BDQ6 400,000.00 BBB+ A2 7/19/2019 7/23/2019 422,916.00 2.59 6,544.44 417,180.42 440,082.40 DTD 04/28/2014 3.875% 04/29/2024 AMERICAN HONDA FINANCE CORP 02665WCZ2 400,000.00 A- 7/15/2019 398,016.00 2.51 2,506.67 398,502.95 422,488.40 NOTE DTD 06/27/2019 2.400% 06/27/2024 GOLDMAN SACHS GROUP INC 38141EC23 400,000.00 BBB+ A3 7/8/2019 7/11/2019 418,632.00 2.84 3,550.56 414,055.72 438,839.20 BONDS DTD 07/08/2014 3.850% 07/08/2024 WALT DISNEY COMPANY /THE ' 254687FK7 400,000.00 A- A2 9/3/2019 9/6/2019 398,368.00 1.84 602.78 398,718.61 416,327.20 DTD 09/06/2019 1.750% 08/30/2024 BANK OF NY MELLON CORP 06406RALl 200,000.00 A Al 1/21/2020 1/28/2020 200,880.00 2.00 1,831.67 200,754.43 211,748.00 DTD 10/24/2019 2.100% 10/24/2024 CITIGROUP INC CORP NOTES 172967JP7 225,000.00 1313� 8/28/2020 9/1/202249,738.75 0.88 3,176.25 249,301.93 247,812.98 jDTD 04/27/2015 3.300% 04/27/2025 JIM APPLE INC (CALLABLE) CORP NOTES 037833DT4 550,000.00 AA+ Aal 5/11/2020 5/13/2020 551,105.50 1.08 2,406.25 551,018.61 561,907.50 DTD 05/11/2020 1.125% 05/11/2025 PFM Asset Management LLC 31 For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE Portfolio Holdings Managed Account Detail of Securities Held Security Type /Description S &P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Corporate Note 78012UEE1 50,000.00 A -1+ P -1 DTD 06/08/2018 3.240% 06/07/2021 ROYAL BANK OF CANADA NY CD 78012UEE1 525,000.00 A -1+ P -1 DTD 06/08/2018 3.240% 06/07/2021 ROYAL BANK OF CANADA NY CD 78012UEE1 100,000.00 A -1+ P -1 DTD 06/08/2018 3.240% 06/07/2021 AMAZON.COM INC CORPORATE 023135BQ8 475,000.00 AA- A2 6/3/2020 6/5/2020 474,767.25 0.81 1,245.56 474,782.31 479,788.00 NOTES DTD 06/03/2020 0.800% 06/03/2025 BANK OF AMERICA CORP NOTES 06051GFS3 225,000.00 A- A2 8/18/2020 8/20/2020 256,918.50 0.93 1,453.13 256,176.62 255,332.25 DTD 07/30/2015 3.875% 08/01/2025 BRISTOL -MYERS SQUIBB CO 110122DC9 125,000.00 A+ A2 9/29/2020 9/30/2020 142,835.00 0.88 618.92 142,824.43 143,387.75 CORPORATE NOTES DTD 07/15/2020 3.875% 08/15/2025 A ABBOTT LABORATORIES 002824BM1 225,000.00 A- A3 9/24/2020 9/28/2020 257,845.50 0.86 387.50 257,788.24 256,828.05 CORPORATE NOTES (CAL DTD 03/22/2017 3.875% 09/15/2025 Security Type Sub -Total 7,930,000.00 8,081,230.05 2.18 59,304.89 8,067,490.72 8,279,212.18 Certificate of Deposit SWEDBANK (NEW YORK) CERT 87019U6D6 100,000.00 A -1 P -1 11/16/2017 11/17/2017 100,000.00 3.01 857.56 100,000.00 100,246.10 DEPOS DTD 11/17/2017 2.270% 11/16/2020 SWEDBANK (NEW YORK) CERT 87019U6D6 600,000.00 A -1 P -1 11/16/2017 11/17/2017 600,000.00 2.27 5,145.34 600,000.00 601,476.60 DEPOS DTD 11/17/2017 2.270% 11/16/2020 SWEDBANK (NEW YORK) CER 87019U6D6 100,000.00 A -1 DEPOS DTD 11/17/2017 2.270% 11/16/2020 w P -1 11/16/2017 11/17/2017 100,000.00 3.01 857.56 100,000.00 ROYAL BANK OF CANADA NY CD 78012UEE1 50,000.00 A -1+ P -1 DTD 06/08/2018 3.240% 06/07/2021 ROYAL BANK OF CANADA NY CD 78012UEE1 525,000.00 A -1+ P -1 DTD 06/08/2018 3.240% 06/07/2021 ROYAL BANK OF CANADA NY CD 78012UEE1 100,000.00 A -1+ P -1 DTD 06/08/2018 3.240% 06/07/2021 PFM Asset Management LLC A A&� 6/7/2018 6/8/2018 50,000.00 2.98 513.00 50,000.00 6/7/2018 6/8/2018 525,000.00 3.24 5,386.50 525,000.00 6/7/2018 6/8/2018 100,000.00 2.98 1,026.00 100,000.00 100,246.10 51,063.95 536,171.48 102,127.90 For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE Portfolio Holdings Managed Account Detail of Securities Held Security Type /Description S &P Moody's Trade Settle Original YTM Accrued Amortized Market Dated Date /Coupon /Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value Certificate of Deposit CREDIT SUISSE NEW YORK CERT 22549L6F7 250,000.00 A+ Al 8/5/2020 8/7/2020 250,000.00 0.52 198.61 250,000.00 250,213.25 DEPOS DTD 08/07/2020 0.520% 02/01/2022 SKANDINAV ENSKILDA BANK LT CD 83050PDR7 400,000.00 A+ Aa2 8/29/2019 9/3/2019 400,000.00 1.85 744.00 400,000.00 411,894.40 DTD 09/03/2019 1.860% 08/26/2022 Security Type Sub -Total 2,125,000.00 2,125,000.00 2.35 14,728.57 2,125,000.00 2,153,439.78 Asset - Backed Security BMWLT 2018 -1 A4 05586CAD6 300,000.00 AAA Aaa 10/10/2018 10/17/2018 299,997.33 3.36 308.00 299,998.86 303,177.78 DTD 10/17/2018 3.360% 03/20/2022 GMALT 2018 -3 A4 36256GAE9 275,000.00 AAA Aaa 9/18/2018 9/26/2018 274,964.97 3.30 277.29 274,983.48 276,499.99 DTD 09/26/2018 3.300% 07/20/2022 HAROT 2018 -4 A3 43815AAC6 332,043.40 AAA Aaa 11/20/2018 11/28/2018 331,993.76 3.16 466.34 332,015.90 338,129.72 DTD 11/28/2018 3.160% 01/15/2023 VALET 2018 -2 A3 92869BAD4 272,323.19 AAA Aaa 11/15/2018 11/21/2018 272,311.76 3.25 270.43 272,316.58 277,902.98 DTD 11/21/2018 3.250% 04/20/2023 GMCAR 2018 -3 A3 36255JAD6 214,991.82 AAA NR 7/11/2018 7/1812018 214,941.68 3.03 270.53 214,964.60 218,581.60 DTD 07/18/2018 3.020% 05/16/2023 CARMAX AUTO OWNER TRUST 14313FAD1 285,564.25 AAA NR 7/18/2018 7/25/2018 285,525.34 3.13 397.25 285,542.75 290,856.41 DTD 07/25/2018 3.130% 06/15/2023 CARMAX AUTO OWNER TRUST 14315EAC4 350,000.00 AAA NR 10/17/2018 10/24/2018 349,996.78 3.36 522.67 349,998.06 358,874.92 DTD 10/24/2018 3.360% 09/15/2023 GMCAR 2019 -1 A3 36256XAD4 234,100.45 NR Aaa 1/8/2019 1/16/2019 234,074.53 2.97 289.70 234,083.69 238,743.36 DTD 01/16/2019 2.970% 11/16/2023 OMET2019 -A2 A2 14041NFU0 800,000.00 AAA NR 8/28/2019 9/5/2018.56 1.73 611.56 842.28 821,962.32 DTD 09/05/2019 1.720% 08/15/2024 Security Type Sub -Total 3,064,023.11 3,063,604.71 2.82 3,413.77 3,063,746.20 3,124,729.08 Managed Account Sub Total 30,880,294.20 31,257,171.64 1.70 147,780.33 31,228,381.48 32,019,062.10 PFM Asset Management LLC 33 For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE Portfolio Holdings Managed Account Detail of Securities Held Security Type /Description Dated Date /Coupon /Maturity S &P Moody's Trade CUSIP Par Rating Rating Date Settle Original YTM Date Cost at Cost Accrued Interest Amortized Cost Market Value Money Market Mutual Fund CAMP Pool 204,871.58 AAAm NR 204,871.58 0.00 204,871.58 204,871.58 Money Market Sub Total Securities Sub -Total Accrued Interest 204,871.58 $31,085,165.78 204,871.58 $31,462,043.22 1.70% 0.00 $147,780.33 204,871.58 $31,433,253.06 204,871.58 $32,223,933.68 $147,780.33 Total Investments $32,371,714.01 Bolded items are forward settling trades PFM Asset Management LLC 34 Appendix For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE IMPORTANT DISCLOSURES This material is based on information obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management LLC cannot guarantee its accuracy, completeness or suitability. This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation. All statements as to what will or may happen under certain circumstances are based on assumptions, some, but not all of which, are noted in the presentation. Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Past performance does not necessarily reflect and is not a guaranty of future results. The information contained in this presentation is not an offer to purchase or sell any securities. • Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Refinitiv, Bloomberg, or Telerate. Where prices are not available from generally recognized sources, the securities are priced using a yield based matrix system to arrive at an estimated market value. • In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and forward settling sales are excluded. • Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns. • Bank of America /Merrill Lynch Indices provided by Bloomberg Financial Markets. • Money market fund /cash balances are included in performance and duration computations • Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund /LGIP holdings. • Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity. • MBS maturities are represented by expected average life. Appendix PFM Asset Management LLC 35 For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE GLOSSARY • ACCRUED INTEREST: Interest that is due on a bond or other fixed income security since the last interest payment was made. • AGENCIES: Federal agency securities and /or Government - sponsored enterprises. • AMORTIZED COST: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short -term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer -term securities is amortized using the constant yield basis. • BANKERS' ACCEPTANCE: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer. • COMMERCIAL PAPER: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory • CONTRIBUTION TO DURATION: Represents each sector or maturity range's relative contribution to the overall duration of the portfolio measured as a percentage weighting. Since duration is a key measure of interest rate sensitivity, the contribution to duration measures the relative amount or contribution of that sector or maturity range to the total rate sensitivity of the portfolio. • EFFECTIVE DURATION: A measure of the sensitivity of a security's price to a change in interest rates, stated in years. • EFFECTIVE YIELD: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compounding on investment returns, while nominal yield does not. • FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount. • INTEREST RATE: Interest per year divided by principal amount and expressed as a percentage. • MARKET VALUE: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date. • MATURITY: The date upon which the principal or stated value of an investment becomes due and payable. • NEGOTIABLE CERTIFICATES OF DEPOSIT: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets. • PAR VALUE: The nominal dollar face amount of a security. • PASS THROUGH SECURITY: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the mortgage- backed security. Appendix PFM Asset Management LLC 36 For the Quarter Ended September 30, 2020 CITY OF LAKE ELSINORE GLOSSARY • REPURCHASE AGREEMENTS: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. • SETTLE DATE: The date on which the transaction is settled and monies /securities are exchanged. If the settle date of the transaction (i.e., coupon payments and maturity proceeds) occurs on a non- business day, the funds are exchanged on the next business day. • TRADE DATE: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place. • UNSETTLED TRADE: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place. • U.S. TREASURY: The department of the U.S. government that issues Treasury securities. • YIELD: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis. • YTM AT COST: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time period from purchase date to maturity, stated as a percentage on an annualized basis. • YTM AT MARKET: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis. Appendix PFM Asset Management LLC 37