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Item No. 13 - SA Investment Report for January 2022
City Council Agenda Report City of Lake Elsinore 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore.org File Number: ID# 22-100 Agenda Date: 3/8/2022 Status: Approval FinalVersion: 1 File Type: Successor Consent Calendar In Control: Successor Agency Agenda Number: 13) SA Investment Report for January 2022 Receive and file the Investment Report for January 2022. Page 1 City of Lake Elsinore Printed on 3/4/2022 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: Jason Simpson, Executive Director Prepared by: Domenico Piazza, Senior Accountant Date: March 8, 2022 Subject: Investment Report for January 2022 Recommendation Receive and file the Investment Report for January 2022. 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, the Review of the Investment Performance for the quarter ended December 31, 2021, is included. Fiscal Impact No fiscal impact. Exhibits A: Investment Report for January 2022 CITY OF LAKE ELSINORE INVESTMENT REPORT BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 18,468,511$ 41,178$ (132,620)$ 18,377,070$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 2,000 Total Cash Accounts 18,468,511 41,178 (132,620) 18,379,370 INVESTMENTS Local Agency Investment Fund 52,889,438 - - 52,889,438 CAMP Investments: CAMP Pool Account 436,607 - - 436,607 U.S. Treasury Bond / Note 12,605,338 - - 12,605,338 Supra-National Agency Bond / Note 1,377,948 - - 1,377,948 Municipal Bond / Note 1,414,846 - - 1,414,846 Federal Agency Commercial Mortgage-Backed Security 486,073 - - 486,073 Federal Agency Bond / Note 6,060,687 - - 6,060,687 Corporate Note 6,890,284 - - 6,890,284 Certificate of Deposit 650,000 - - 650,000 Asset-Backed Security 2,354,725 - - 2,354,725 Sub-total Investments 85,165,946 - - 85,165,946 Market Value Adjustment: Unrealized Gain/(Loss) at 12/31/2021 (331,756) - - (331,756) Total Investments 84,834,189 - - 84,834,189 Total Pooled Cash and Investments 103,302,700$ 41,178$ (132,620)$ 103,213,559$ TOTAL POOLED CASH AND INVESTMENTS 103,213,559$ 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 May 25, 2021. 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 February 18, 2022 City Manager Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF JANUARY 31, 2022 FUND NO FUND NAME AMOUNT 100 General 12,918,124$ 102 Measure Z 4,588,264 106 Affordable Housing In Lieu 692,221 107 Developer Agreement Revenue 10,978 108 American Rescue Plan 7,339,937 109 Road Maintenance and Rehabilitation (SB1) 278,962 110 State Gas Tax 625,956 112 Measure A 1,501,007 113 SB821 Pedestrian Sidewalk 96 114 SB1186 CASP Education Program 41,268 115 Traffic Safety 64,018 116 City Hall-Public Works DIF 76,579 117 Community Center DIF 46,179 118 Lake Side Facility DIF 107,717 119 Animal Shelter DIF 41,657 130 Lighting & Landscape Maintenance Fund - City-wide 774,397 135 Lighting & Landscape Maintenance - Dist. No. 1 581,417 140 Geothermal 11,821 160 PEG Grant 55,923 180 Launch Pointe 786,884 202 La Strada RBBD 24,109 203 E.L.S.P. - S.T.I.F. 3,399,719 205 Traffic Impact Fee 216,136 211 Storm Drain C.I.P. 2,159,620 221 Quimby Park C.I.P. 754,224 231 Library C.I.P. 1,290,097 232 City Fire Protection 383,465 300 Insurance Service 1,400,100 305 Information Systems Service 1,492,364 310 Support Service 19,144 315 Fleet Service 607,512 320 Facilities Service 716,629 331 CFD 2006-1CC Summerly Improvement Area CC 88,158 332 CFD 2006-1 Improvement Area B, Summerly 86,855 333 CFD 2015-3 Terracina 32,161 334 CFD 2015-5 Trieste - Far West Industries 81,587 335 CFD 2003-2E Canyon Hills Improvement Area E 33,149 336 CFD 2006-1FF Summerly Improvement Area FF 138,104 337 CFD 2016-2 Canyon Hills 602,731 338 CFD 2006-1 IA-JJ Summerly Improvement Area 211,456 339 CFD 2006-1 IA-KK Summerly Improvement Area 121,543 340 CFD 2006-1 IA-EE Summerly Improvement Area 180,236 341 CFD 2017-1S Public Safety Services 9,024 342 CFD 2007-5S Red Kite Service 3,734 343 CFD 2006-2S Viscaya Services 27,543 344 CFD 2005-2S Alberhill Ranch Services 92,885 345 CFD 2003-2 Improvement Area D, Canyon Hills 1,077,837 346 CFD 2014-1 Southshore 68,712 347 CFD 2006-1 Improvement Area A, Summerly 101,724 350 CFD 98-1 Summerhill 410,301 351 CFD 2006-1 IA-II Summerly Improvement 88,121 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF JANUARY 31, 2022 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF JANUARY 31, 2022 354 CFD 90-2 Tuscany Hills 926,195 357 CFD 2003-2 Canyon Hills Improvement Area 150,619 366 CFD 2005-6 City Center Townhomes 145,587 368 CFD 2006-2 Viscaya 270,884 369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 704,952 370 CFD 2006-1 IA-HH Summerly Improvement 203,574 371 CFD 2005-1 Serenity 243,228 372 CFD 2005-2 Alberhill Ranch Improvement Area 605,412 374 CFD 2005-4 Lakeview Villas 9,721 376 CFD 2006-3 La Strada 1,289 377 CFD 2006-6 Tessara 9,848 378 CFD 2006-8 Running Deer Estates 12,743 379 CFD 2022-1 ALBERHILL 45,000 384 CFD 2003-2 Area B Canyon Hills Improvement Area 1,399,212 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 1,017,238 386 CFD 2007-4 Mekenna Court 125,244 387 CFD 2007-5 Red Kite 61,110 388 CFD 2007-6 Holiday Inn Express 6,819 389 CFD 88-3 (2008A) West Lake Elsinore Series A 16,726 390 CFD 2003-2 Area C Canyon Hills Improvement Area 252,512 392 CFD 95-1 City Center 1,151 393 AD 93-1 Cottonwood Hills 288,551 394 CFD 2005-5 (2012A) Wasson Canyon 98,144 395 CFD 2018-1 Wasson Canyon II Improvement Area 2,535 396 CFD 2018-2 Nichols Ranch Improvement Area 16,395 398 CFD 2021-1 Tuscany Valley and Crest 21,528 500 Capital Improvement Plan 14,554,797 510 Successor To RDA Area I, II, & III 3,816,819 540 Successor To RDA Diamond Stadium 2,150,836 603 Endowment Trust - Carl Graves 57,224 604 Endowment Trust - Korn Memorial 33,968 605 Public Improvement Trust 1,583,168 606 Mobile Source Air Polution Reduction 352,908 608 Trust Deposit & Pre Paid Expense 1,808,459 617 Successor Agency Housing 18,422,974 620 Cost Recovery System 4,463,092 631 Lake Destratification Equipment Replacement 471,743 650 CFD 2003-1 Law & Fire Service 1,726,802 651 CFD 2006-5 Park & Open Space Service 71,039 652 CFD 2007-1 Law & Fire Service 54,957 653 CFD 2009-1 Parks & Lighting Service 367,106 655 CFD 2015-1s Law, Fire, Paramedic Services 179,066 Total Pooled Cash & Investments 103,213,559$ MAXIMUM DIVERSIFICATION CURRENT TYPES OF SECURITIES PERCENTAGE PERCENTAGE BALANCE CAMP - Pooled Sweep Account Unlimited 0.51% 436,607$ U.S. Treasury Bond / Note Unlimited 14.80% 12,605,338$ Supra-National Agency Bond / Note 30% 1.62% 1,377,948$ Municipal Bond / Note Unlimited 1.66% 1,414,846$ Federal Agency Collaterized Mortgage Obligation 40% 0.57% 486,073$ Federal Agency Bond / Note Unlimited 7.12% (1)6,060,687$ Corporate Note 30% 8.09% 6,890,284$ Negotiable Certificates of Deposit 30% 0.76% 650,000$ Asset-Backed Security / Collaterized Mortgage 20% 2.76% 2,354,725$ LAIF (Local Agency Investment Fund) $75 Million 62.10% (2)52,889,438$ TOTAL 100.00% 85,165,946$ 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. C I T Y O F L A K E E L S I N O R E SUMMARY OF POLICY LIMITATIONS FOR THE MONTH ENDING JANUARY 31, 2022 Local Agency Investment Fund Jan 0.234 Dec 0.212 Nov 0.203 PMIA Quarter to Date(1):0.21% 340PMIA Average Life(1): 0.23LAIF Apportionment Rate(2): 0.00000625812849570 0.997439120 LAIF Earnings Ratio(2): LAIF Fair Value Factor(1): PMIA Daily(1):0.22% Treasuries 66.16% Agencies 17.81% Certificates of Deposit/Bank Notes 7.36% Time Deposits 1.92% Commercial Paper 6.22% Corporate Bonds 0.16% Loans 0.37% Notes: The apportionment rate includes interest earned on the CalPERS 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: (1) State of California, Office of the Treasurer (2) State of Calfiornia, Office of the Controller PMIA Average Monthly Effective Yields(1) PMIA/LAIF Performance Report as of 02/10/22 Daily rates are now available here. View PMIA Daily Rates Quarterly Performance Quarter Ended 12/31/21 Chart does not include $6,159,000.00 in mortgages, which equates to 0.003%.Percentages may not total 100% due to rounding. Pooled Money Investment Account Monthly Portfolio Composition (1) 01/31/22 $202.8 billion Yield Purchase Date Maturity Rate 0.234% Daily 24-Hour Investment Beginning Balance Net Increase/(Decrease)Ending Balance Total Investments Held with Local Agency Investment Fund:42,866,862$ 10,022,576$ 52,889,438$ 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. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING JANUARY 31, 2022 CAMP Investment Portfolio For the Month Ending January 31, 2022Account Statement - Transaction Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Opening Market Value Purchases Redemptions Change in Value Closing Market Value 255,176.68 1,850,238.20 (1,668,808.37) 0.00 $436,606.51 CAMP Pool Unsettled Trades 0.00 9.90 Cash Dividends and Income Opening Market Value Purchases Redemptions Change in Value Closing Market Value 31,759,450.90 1,664,585.00 (1,824,549.09) (336,835.80) $31,262,651.01 CAMP Managed Account Unsettled Trades 0.00 42,650.28 Cash Dividends and Income January 31, 2022 December 31, 2021 Asset Summary CAMP Pool 436,606.51 255,176.68 CAMP Managed Account 31,262,651.01 31,759,450.90 $31,699,257.52 $32,014,627.58 Total Asset Allocation 1.38% CAMP Pool 98.62% CAMP Managed Account Page 1 For the Month Ending January 31, 2022Managed Account Summary Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dividend Closing Market Value Redemptions Purchases Opening Market Value Closing Market Value Change in Current Value Unsettled Trades Principal Acquisitions Principal Dispositions Maturities/Calls Opening Market Value Closing Market Value Opening Market Value Account Total Total Cash Basis Earnings Plus Net Realized Gains/Losses Less Purchased Interest Related to Interest/Coupons Interest/Dividends/Coupons Received Earnings Reconciliation (Cash Basis) - Managed Account Dividends Less Beginning Accrued Interest Less Beginning Amortized Value of Securities Less Cost of New Purchases Plus Coupons/Dividends Received Plus Proceeds of Maturities/Calls/Principal Payments Plus Proceeds from Sales Ending Accrued Interest Ending Amortized Value of Securities Earnings Reconciliation (Accrual Basis) Reconciling Transactions Net Cash Contribution Security Purchases Principal Payments Coupon/Interest/Dividend Income Sale Proceeds Maturities/Calls Cash Transactions Summary- Managed Account $255,176.68 1,850,238.20 (1,668,808.37) $436,606.51 9.90 $31,759,450.90 (686,101.68) (1,138,447.41) 1,664,585.00 0.00 (336,835.80) $31,262,651.01 $32,014,627.58 $31,699,257.52 25,619.92 (1,404.70) 18,435.06 $42,650.28 600,000.00 1,141,673.78 22,393.55 86,101.68 (1,665,989.70) (184,179.31) 0.00 Managed Account Total 31,690,508.93 32,127,115.44 70,844.58 1,141,673.78 686,101.68 22,393.55 (1,665,989.70) (31,842,011.28) (61,518.29) 0.00 70,844.58 2,810,482.15 686,101.68 22,393.55 (3,516,227.90) (32,097,187.96) (61,518.29) 9.90 Total Accrual Basis Earnings $42,003.25 $42,013.15 Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance $0.00 Closing Cash Balance Page 2 For the Month Ending January 31, 2022Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Account Summary Percent Par Value Market ValueDescription U.S. Treasury Bond / Note 12,450,000.00 12,372,472.52 39.02 Supra-National Agency Bond / Note 1,380,000.00 1,355,640.53 4.28 Municipal Bond / Note 1,410,000.00 1,382,153.30 4.36 Federal Agency Commercial Mortgage-Backed Security 472,113.99 482,398.69 1.52 Federal Agency Bond / Note 6,075,000.00 5,922,336.06 18.68 Corporate Note 6,719,000.00 6,760,057.97 21.33 Certificate of Deposit 650,000.00 651,667.50 2.06 Asset-Backed Security 2,355,110.06 2,335,924.44 7.37 Managed Account Sub-Total 31,511,224.05 31,262,651.01 98.62% Accrued Interest 70,844.58 Total Portfolio 31,511,224.05 31,333,495.59 CAMP Pool 436,606.51 436,606.51 1.38 Total Investments 31,947,830.56 31,770,102.10 100.00% Unsettled Trades 0.00 0.00 Sector Allocation 7.37% ABS 2.06% Cert of Deposit 21.33% Corporate Note 18.68% Fed Agy Bond / Note 1.52% Federal Agency Commercial Mortgage-Backed Security 1.38% Joint Powers Authority 4.36% Muni Bond / Note 4.28% Supra-National Agency Bond / Note 39.02% US TSY Bond / Note 0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years 1.37%1.93% 20.97% 32.45% 34.94% 8.34% 0.00% Maturity Distribution Characteristics Yield to Maturity at Cost Yield to Maturity at Market Weighted Average Days to Maturity 1043 1.06% 1.45% Page 3 For the Month Ending January 31, 2022Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Credit Quality (S&P Ratings) 4.35% A 4.09% A+ 6.31% A- 1.27% A-1 2.67% AA 62.37% AA+ 0.58% AA- 11.27% AAA 1.38% AAAm 4.63% BBB+ 1.08% NR Issuer Summary Percentof HoldingsIssuer Market Value 239,737.05 0.76 ABBOTT LABORATORIES 460,709.15 1.45 AMAZON.COM INC 407,526.40 1.29 AMERICAN HONDA FINANCE 540,010.35 1.70 APPLE INC 460,591.66 1.45 BANK OF AMERICA CO 237,720.28 0.75 BMW FINANCIAL SERVICES NA LLC 62,829.81 0.20 BRISTOL-MYERS SQUIBB CO 82,630.20 0.26 CALIFORNIA STATE UNIVERSITY 436,606.51 1.38 CAMP Pool 803,525.36 2.53 CAPITAL ONE FINANCIAL CORP 198,165.68 0.63 CARMAX AUTO OWNER TRUST 221,962.73 0.70 CATERPILLAR INC 101,460.00 0.32 CHAFFEY JOINT UNION HIGH SCHOOL DISTRICT 103,245.45 0.33 CHARLES SCHWAB 233,028.45 0.74 CITIGROUP INC 248,839.50 0.79 CREDIT SUISSE GROUP RK 97,567.10 0.31 DEERE & COMPANY 190,295.72 0.60 DISCOVER FINANCIAL SERVICES 1,622,237.68 5.11 FANNIE MAE 483,433.40 1.53 FEDERAL HOME LOAN BANKS 304,491.30 0.96 FLORIDA STATE BOARD OF ADMIN FIN CORP 4,299,063.67 13.55 FREDDIE MAC 236,313.90 0.75 GENERAL DYNAMICS CORP 129,840.52 0.41 GM FINANCIAL CONSUMER AUTOMOBILE TRUST 118,610.51 0.37 GM FINANCIAL LEASINGTRUST 417,121.20 1.32 GOLDMAN SACHS GROUP INC 120,822.46 0.38 HONDA AUTO RECEIVABLES 152,743.00 0.48 HYUNDAI AUTO RECEIVABLES 621,207.17 1.96 INTER-AMERICAN DEVELOPMENT BANK 734,433.36 2.32 INTL BANK OF RECONSTRUCTION AND DEV 482,675.17 1.52 JP MORGAN CHASE & CO 135,119.60 0.43 LOS ANGELES COMMUNITY COLLEGE DISTRICT Page 4 For the Month Ending January 31, 2022Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Percentof HoldingsIssuer Market Value 417,899.60 1.32 MORGAN STANLEY 314,993.25 0.99 NEW YORK ST URBAN DEVELOPMENT CORP 290,117.96 0.92 NISSAN AUTO RECEIVABLES 175,341.60 0.55 PACCAR FINANCIAL CORP 413,957.20 1.31 PNC FINANCIAL SERVICES GROUP 126,126.00 0.40 SAN JUAN UNIFIED SCHOOL DISTRICT 402,828.00 1.27 SKANDINAVISKA ENSKILDA BANKEN AB 137,815.20 0.43 STATE OF CONNECTICUT 96,800.00 0.31 STATE OF MINNESOTA 39,921.64 0.13 TARGET CORP 678,575.87 2.14 THE BANK OF NEW YORK MELLON CORPORATION 400,981.20 1.26 THE WALT DISNEY CORPORATION 532,644.15 1.68 TOYOTA MOTOR CORP 12,372,472.52 39.02 UNITED STATES TREASURY 217,944.90 0.69 UNITEDHEALTH GROUP INC 82,717.75 0.26 UNIVERSITY OF CALIFORNIA 13,556.34 0.04 VOLKSWAGEN OF AMERICA $31,699,257.52 Total 100.00% Page 5 For the Month Ending January 31, 2022Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 10/31/2016 1.625% 10/31/2023 781,781.25 772,938.63 3,235.41 769,883.79 07/03/1907/01/19AaaAA+ 775,000.00 912828T91 1.78 US TREASURY NOTES DTD 10/31/2016 1.625% 10/31/2023 1,008,750.00 1,002,458.18 4,174.72 1,005,742.19 10/04/1910/02/19AaaAA+ 1,000,000.00 912828T91 1.48 US TREASURY NOTES DTD 06/30/2017 2.000% 06/30/2024 178,007.81 176,835.15 309.39 178,541.01 11/06/1911/01/19AaaAA+ 175,000.00 912828XX3 1.55 US TREASURY NOTES DTD 06/30/2017 2.000% 06/30/2024 330,585.94 329,837.66 574.59 333,823.24 02/07/2002/03/20AaaAA+ 325,000.00 912828XX3 1.36 US TREASURY NOTES DTD 06/30/2017 2.000% 06/30/2024 508,593.75 513,590.88 883.98 524,355.47 03/06/2003/02/20AaaAA+ 500,000.00 912828XX3 0.85 US TREASURY NOTES DTD 06/30/2017 2.000% 06/30/2024 2,746,406.25 2,721,387.72 4,773.48 2,739,761.72 01/07/2001/02/20AaaAA+ 2,700,000.00 912828XX3 1.66 US TREASURY NOTES DTD 12/31/2019 1.750% 12/31/2024 505,312.50 522,785.66 773.48 534,414.06 08/07/2008/05/20AaaAA+ 500,000.00 912828YY0 0.18 US TREASURY NOTES DTD 12/31/2019 1.750% 12/31/2024 2,021,250.00 2,084,798.66 3,093.92 2,130,625.00 07/06/2007/01/20AaaAA+ 2,000,000.00 912828YY0 0.28 US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025 240,000.00 246,101.83 55.25 245,156.25 04/05/2104/01/21AaaAA+ 250,000.00 912828ZW3 0.72 US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025 432,000.00 444,996.58 99.45 443,654.30 03/04/2103/01/21AaaAA+ 450,000.00 912828ZW3 0.58 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 143,460.93 147,428.79 49.72 147,052.73 07/07/2107/01/21AaaAA+ 150,000.00 91282CBC4 0.82 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 334,742.17 345,595.96 116.02 344,859.38 06/07/2106/02/21AaaAA+ 350,000.00 91282CBC4 0.70 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 382,562.48 388,430.24 132.60 387,968.75 12/06/2112/02/21AaaAA+ 400,000.00 91282CBC4 1.13 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 430,382.79 446,596.66 149.17 446,167.97 08/05/2108/03/21AaaAA+ 450,000.00 91282CBC4 0.57 Page 6 For the Month Ending January 31, 2022Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 621,664.03 633,292.51 215.47 632,251.95 11/04/2111/02/21AaaAA+ 650,000.00 91282CBC4 1.05 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 789,035.12 815,240.30 273.48 814,236.33 09/07/2109/01/21AaaAA+ 825,000.00 91282CBC4 0.68 US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026 917,937.50 927,226.01 1,830.46 926,843.75 01/06/2201/04/22AaaAA+ 950,000.00 91282CBW0 1.33 20,740.59 12,372,472.52 12,519,541.42 1.06 12,605,337.89 12,450,000.00 Security Type Sub-Total Supra-National Agency Bond / Note INTL BK OF RECON AND DEV NOTE DTD 04/20/2021 0.126% 04/20/2023 242,605.86 244,692.24 86.61 244,492.85 04/20/2104/13/21AaaAAA 245,000.00 459058JV6 0.23 INTL BK RECON & DEVELOP NOTES DTD 11/24/2020 0.250% 11/24/2023 491,827.50 499,351.07 232.64 498,925.00 11/24/2011/17/20AaaAAA 500,000.00 459058JM6 0.32 INTER-AMERICAN DEVEL BK NOTES DTD 09/23/2021 0.500% 09/23/2024 621,207.17 634,586.27 1,128.89 634,530.10 09/23/2109/15/21AaaAAA 635,000.00 4581X0DZ8 0.52 1,448.14 1,355,640.53 1,378,629.58 0.40 1,377,947.95 1,380,000.00 Security Type Sub-Total Municipal Bond / Note CT ST TXBL GO BONDS DTD 06/11/2020 1.998% 07/01/2024 60,691.20 60,000.00 99.90 60,000.00 06/11/2005/29/20Aa3A+ 60,000.00 20772KJW0 2.00 CHAFFEY UHSD, CA TXBL GO BONDS DTD 12/05/2019 2.101% 08/01/2024 101,460.00 100,000.00 1,050.50 100,000.00 12/05/1911/06/19Aa1AA- 100,000.00 157411TK5 2.10 NY ST URBAN DEV CORP TXBL REV BONDS DTD 12/23/2020 0.870% 03/15/2025 314,993.25 325,000.00 1,068.17 325,000.00 12/23/2012/16/20NRAA+ 325,000.00 650036DT0 0.87 UNIV OF CAL TXBL REV BONDS DTD 07/16/2020 0.883% 05/15/2025 82,717.75 85,000.00 158.45 85,000.00 07/16/2007/10/20Aa2AA 85,000.00 91412HGE7 0.88 CT ST T/E GO BONDS DTD 06/25/2020 2.000% 06/01/2025 77,124.00 77,579.61 250.00 78,822.75 06/25/2006/12/20Aa3A+ 75,000.00 20772KKK4 0.94 Page 7 For the Month Ending January 31, 2022Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Municipal Bond / Note FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 63,844.95 65,327.39 68.14 65,459.55 09/16/2009/03/20Aa3AA 65,000.00 341271AD6 1.11 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 83,489.55 85,401.48 89.11 85,563.55 09/16/2009/03/20Aa3AA 85,000.00 341271AD6 1.12 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 157,156.80 160,000.00 167.73 160,000.00 09/16/2009/03/20Aa3AA 160,000.00 341271AD6 1.26 MN ST TXBL GO BONDS DTD 08/25/2020 0.630% 08/01/2025 96,800.00 100,000.00 315.00 100,000.00 08/25/2008/11/20Aa1AAA 100,000.00 60412AVJ9 0.63 SAN JUAN USD, CA TXBL GO BONDS DTD 10/29/2020 0.852% 08/01/2025 126,126.00 130,000.00 553.80 130,000.00 10/29/2010/16/20Aa2NR 130,000.00 798306WP7 0.85 LOS ANGELES CCD, CA TXBL GO BONDS DTD 11/10/2020 0.773% 08/01/2025 135,119.60 140,000.00 541.10 140,000.00 11/10/2010/30/20AaaAA+ 140,000.00 54438CYK2 0.77 CA ST UNIV TXBL REV BONDS DTD 07/29/2021 0.862% 11/01/2025 82,630.20 85,000.00 183.18 85,000.00 07/29/2107/09/21Aa2AA- 85,000.00 13077DQD7 0.86 4,545.08 1,382,153.30 1,413,308.48 1.06 1,414,845.85 1,410,000.00 Security Type Sub-Total Federal Agency Commercial Mortgage-Backed Security FHLMC SERIES K721 A2 DTD 12/01/2015 3.090% 08/01/2022 28,373.01 28,211.60 72.57 28,424.04 04/09/1804/04/18AaaAA+ 28,184.02 3137BM6P6 3.08 FHLMC SERIES K721 A2 DTD 12/01/2015 3.090% 08/01/2022 28,373.01 28,211.60 72.57 28,424.04 04/09/1804/04/18AaaAA+ 28,184.02 3137BM6P6 3.09 FHLMC SERIES K721 A2 DTD 12/01/2015 3.090% 08/01/2022 129,705.18 128,967.33 331.76 129,938.39 04/09/1804/04/18AaaAA+ 128,841.24 3137BM6P6 2.88 FHMS KP05 A DTD 12/01/2018 3.203% 07/01/2023 5,809.63 5,709.04 15.24 5,709.03 12/17/1812/07/18AaaAA+ 5,709.05 3137FKK39 3.20 FHMS KJ27 A1 DTD 11/01/2019 2.092% 07/01/2024 31,490.03 31,195.27 54.38 31,194.91 11/26/1911/20/19AaaAA+ 31,195.66 3137FQ3V3 2.09 FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024 258,647.83 257,478.87 637.92 262,382.81 03/25/2003/19/20AaaAA+ 250,000.00 3137BGK24 1.95 Page 8 For the Month Ending January 31, 2022Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Commercial Mortgage-Backed Security 1,184.44 482,398.69 479,773.71 2.36 486,073.22 472,113.99 Security Type Sub-Total Federal Agency Bond / Note FREDDIE MAC NOTES DTD 08/21/2020 0.250% 08/24/2023 888,658.20 899,524.28 981.25 899,082.00 08/21/2008/19/20AaaAA+ 900,000.00 3137EAEV7 0.28 FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 370,039.88 375,036.39 372.40 375,068.48 09/04/2009/02/20AaaAA+ 375,000.00 3137EAEW5 0.24 FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 518,055.82 524,907.94 521.35 524,826.75 09/04/2009/02/20AaaAA+ 525,000.00 3137EAEW5 0.26 FREDDIE MAC NOTES DTD 10/16/2020 0.125% 10/16/2023 319,572.18 324,311.40 118.49 323,787.75 10/16/2010/14/20AaaAA+ 325,000.00 3137EAEY1 0.25 FREDDIE MAC NOTES DTD 11/05/2020 0.250% 11/06/2023 344,607.90 349,815.20 206.60 349,685.00 11/05/2011/03/20AaaAA+ 350,000.00 3137EAEZ8 0.28 FANNIE MAE NOTES DTD 11/25/2020 0.250% 11/27/2023 319,713.23 324,775.74 144.44 324,629.50 11/25/2011/23/20AaaAA+ 325,000.00 3135G06H1 0.29 FREDDIE MAC NOTES DTD 12/04/2020 0.250% 12/04/2023 294,960.60 299,818.00 118.75 299,703.00 12/04/2012/02/20AaaAA+ 300,000.00 3137EAFA2 0.28 FEDERAL HOME LOAN BANK NOTES DTD 04/16/2020 0.500% 04/14/2025 339,420.20 348,888.35 520.14 348,264.00 04/16/2004/15/20AaaAA+ 350,000.00 3130AJHU6 0.60 FANNIE MAE NOTES DTD 04/24/2020 0.625% 04/22/2025 340,721.50 349,535.14 601.56 349,279.00 04/24/2004/22/20AaaAA+ 350,000.00 3135G03U5 0.67 FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025 408,867.00 423,530.98 44.27 422,883.50 07/23/2007/21/20AaaAA+ 425,000.00 3137EAEU9 0.48 FANNIE MAE NOTES DTD 08/27/2020 0.375% 08/25/2025 336,243.60 348,831.67 568.75 348,362.00 08/27/2008/25/20AaaAA+ 350,000.00 3135G05X7 0.47 FEDERAL HOME LOAN BANK NOTES DTD 09/11/2020 0.375% 09/04/2025 144,013.20 149,675.67 229.69 149,550.00 09/11/2009/10/20AaaAA+ 150,000.00 3130AK5E2 0.44 Page 9 For the Month Ending January 31, 2022Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Bond / Note FREDDIE MAC NOTES DTD 09/25/2020 0.375% 09/23/2025 671,903.40 698,463.65 933.33 697,893.00 09/25/2009/23/20AaaAA+ 700,000.00 3137EAEX3 0.44 FANNIE MAE NOTES DTD 11/12/2020 0.500% 11/07/2025 625,559.35 648,242.93 758.33 647,673.00 11/12/2011/09/20AaaAA+ 650,000.00 3135G06G3 0.57 6,119.35 5,922,336.06 6,065,357.34 0.39 6,060,686.98 6,075,000.00 Security Type Sub-Total Corporate Note JPMORGAN CHASE & CO BONDS DTD 03/22/2019 3.207% 04/01/2023 175,571.90 175,000.00 1,870.75 175,000.00 03/22/1903/15/19A2A- 175,000.00 46647PBB1 3.21 TOYOTA MOTOR CREDIT CORP CORPORATE NOTES DTD 08/14/2020 0.500% 08/14/2023 74,101.20 74,970.52 173.96 74,942.25 08/14/2008/11/20A1A+ 75,000.00 89236THF5 0.53 PNC BANK NA CORP NOTES (CALLABLE) DTD 01/23/2019 3.500% 01/23/2024 413,957.20 401,108.98 311.11 402,848.00 02/15/1902/12/19A3A- 400,000.00 693475AV7 3.34 CHARLES SCHWAB CORP NOTES (CALLABLE) DTD 03/18/2021 0.750% 03/18/2024 103,245.45 104,962.83 290.94 104,947.50 03/18/2103/16/21A2A 105,000.00 808513BN4 0.77 BANK OF NY MELLON CORP NOTES (CALLABLE) DTD 04/26/2021 0.500% 04/26/2024 205,346.19 209,832.91 277.08 209,775.30 04/26/2104/19/21A1A 210,000.00 06406RAS6 0.54 MORGAN STANLEY CORP NOTES DTD 04/28/2014 3.875% 04/29/2024 417,899.60 410,760.79 3,961.11 422,916.00 07/23/1907/19/19A1BBB+ 400,000.00 61746BDQ6 2.59 AMERICAN HONDA FINANCE CORP NOTE DTD 06/27/2019 2.400% 06/27/2024 407,526.40 399,038.16 906.67 398,016.00 07/15/1907/11/19A3A- 400,000.00 02665WCZ2 2.51 GOLDMAN SACHS GROUP INC (CALLABLE) BONDS DTD 07/08/2014 3.850% 07/08/2024 417,121.20 408,568.78 983.89 418,632.00 07/11/1907/08/19A2BBB+ 400,000.00 38141EC23 2.84 BMW US CAPITAL LLC CORPORATE NOTES DTD 08/12/2021 0.750% 08/12/2024 68,424.58 69,994.69 246.46 69,993.70 08/12/2108/09/21A2A 70,000.00 05565EBU8 0.75 Page 10 For the Month Ending January 31, 2022Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note WALT DISNEY COMPANY/THE DTD 09/06/2019 1.750% 08/30/2024 400,981.20 399,156.20 2,936.11 398,368.00 09/06/1909/03/19A2BBB+ 400,000.00 254687FK7 1.84 JOHN DEERE CAPITAL CORP CORPORATE NOTES DTD 09/10/2021 0.625% 09/10/2024 97,567.10 99,943.54 244.79 99,935.00 09/10/2109/07/21A2A 100,000.00 24422EVU0 0.65 PACCAR FINANCIAL CORP CORPORATE NOTES DTD 02/06/2020 1.800% 02/06/2025 175,341.60 180,567.95 1,531.25 182,894.25 10/29/2010/22/20A1A+ 175,000.00 69371RQ66 0.73 CITIGROUP INC CORP NOTES DTD 04/27/2015 3.300% 04/27/2025 233,028.45 242,196.27 1,938.75 249,738.75 09/01/2008/28/20A3BBB+ 225,000.00 172967JP7 0.88 APPLE INC (CALLABLE) CORP NOTES DTD 05/11/2020 1.125% 05/11/2025 540,010.35 550,717.90 1,375.00 551,105.50 05/13/2005/11/20AaaAA+ 550,000.00 037833DT4 1.08 GENERAL DYNAMICS CORP (CALLABLE) CORP NO DTD 05/11/2018 3.500% 05/15/2025 236,313.90 244,295.37 1,662.50 252,247.50 10/20/2010/16/20A3A- 225,000.00 369550BG2 0.80 JPMORGAN CHASE & CO CORPORATE NOTES DTD 06/01/2021 0.824% 06/01/2025 307,103.27 315,000.00 432.60 315,000.00 06/01/2105/24/21A2A- 315,000.00 46647PCH7 0.82 AMAZON.COM INC CORPORATE NOTES DTD 06/03/2020 0.800% 06/03/2025 460,709.15 474,844.58 612.22 474,767.25 06/05/2006/03/20A1AA 475,000.00 023135BQ8 0.81 BANK OF AMERICA CORP NOTES DTD 07/30/2015 3.875% 08/01/2025 239,266.58 247,556.68 4,359.38 256,918.50 08/20/2008/18/20A2A- 225,000.00 06051GFS3 0.93 BRISTOL-MYERS SQUIBB CO CORPORATE NOTES DTD 07/15/2020 3.875% 08/15/2025 62,829.81 64,979.46 1,054.22 67,418.12 09/30/2009/29/20A2A+ 59,000.00 110122DC9 0.88 ABBOTT LABORATORIES CORPORATE NOTES (CAL DTD 03/22/2017 3.875% 09/15/2025 239,737.05 248,474.70 3,293.75 257,845.50 09/28/2009/24/20A2A+ 225,000.00 002824BM1 0.86 Page 11 For the Month Ending January 31, 2022Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note BANK OF AMERICA CORP NOTES (CALLABLE) DTD 12/06/2021 1.530% 12/06/2025 221,325.08 225,000.00 525.94 225,000.00 12/06/2112/01/21A2A- 225,000.00 06051GKE8 1.53 UNITEDHEALTH GROUP INC (CALLABLE) CORPOR DTD 05/19/2021 1.150% 05/15/2026 217,944.90 224,663.94 546.25 224,608.50 05/19/2105/17/21A3A+ 225,000.00 91324PEC2 1.19 TOYOTA MOTOR CREDIT CORP CORPORATE NOTES DTD 06/18/2021 1.125% 06/18/2026 140,296.06 144,704.20 194.84 144,678.10 09/13/2109/08/21A1A+ 145,000.00 89236TJK2 1.17 BMW US CAPITAL LLC (CALLABLE) CORPORATE DTD 08/12/2021 1.250% 08/12/2026 169,295.70 174,952.37 1,026.91 174,947.50 08/16/2108/12/21A2A 175,000.00 05565EBW4 1.26 CATERPILLAR FINL SERVICE CORPORATE NOTES DTD 01/10/2022 1.700% 01/08/2027 221,962.73 223,875.61 223.13 223,863.75 01/13/2201/11/22A2A 225,000.00 14913R2U0 1.81 TARGET CORP CORPORATE NOTES DTD 01/24/2022 1.950% 01/15/2027 39,921.64 39,932.30 15.17 39,932.00 01/24/2201/19/22A2A 40,000.00 87612EBM7 1.99 BANK OF NY MELLON CORP (CALLABLE) CORPOR DTD 01/26/2022 2.050% 01/26/2027 473,229.68 473,947.81 135.24 473,945.50 01/28/2201/26/22A1A 475,000.00 06406RBA4 2.10 31,130.02 6,760,057.97 6,829,046.54 1.62 6,890,284.47 6,719,000.00 Security Type Sub-Total Certificate of Deposit SKANDINAV ENSKILDA BANK LT CD DTD 09/03/2019 1.860% 08/26/2022 402,828.00 400,000.00 3,286.00 400,000.00 09/03/1908/29/19P-1A-1 400,000.00 83050PDR7 1.85 CREDIT SUISSE NEW YORK CERT DEPOS DTD 03/23/2021 0.590% 03/17/2023 248,839.50 250,000.00 1,290.63 250,000.00 03/23/2103/19/21A1A+ 250,000.00 22552G3C2 0.59 4,576.63 651,667.50 650,000.00 1.37 650,000.00 650,000.00 Security Type Sub-Total Page 12 For the Month Ending January 31, 2022Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Asset-Backed Security HAROT 2018-4 A3 DTD 11/28/2018 3.160% 01/15/2023 21,861.97 21,818.93 30.64 21,816.42 11/28/1811/20/18AaaAAA 21,819.68 43815AAC6 3.16 VALET 2018-2 A3 DTD 11/21/2018 3.250% 04/20/2023 13,556.34 13,529.94 13.44 13,529.53 11/21/1811/15/18AaaAAA 13,530.10 92869BAD4 3.25 GMCAR 2018-3 A3 DTD 07/18/2018 3.020% 05/16/2023 11,171.39 11,158.73 14.04 11,156.82 07/18/1807/11/18NRAAA 11,159.42 36255JAD6 3.03 CARMAX AUTO OWNER TRUST DTD 07/25/2018 3.130% 06/15/2023 20,063.76 20,026.79 27.86 20,024.82 07/25/1807/18/18NRAAA 20,027.55 14313FAD1 3.13 CARMAX AUTO OWNER TRUST DTD 10/24/2018 3.360% 09/15/2023 69,396.92 69,008.37 103.05 69,007.95 10/24/1810/17/18NRAAA 69,008.58 14315EAC4 3.36 GMCAR 2019-1 A3 DTD 01/16/2019 2.970% 11/16/2023 34,691.76 34,563.32 42.77 34,560.91 01/16/1901/08/19AaaNR 34,564.73 36256XAD4 2.97 COMET 2019-A2 A2 DTD 09/05/2019 1.720% 08/15/2024 803,525.36 799,896.71 611.56 799,798.56 09/05/1908/28/19NRAAA 800,000.00 14041NFU0 1.73 GMALT 2021-1 A4 DTD 02/24/2021 0.330% 02/20/2025 84,146.12 84,990.18 8.57 84,987.17 02/24/2102/17/21AaaNR 85,000.00 36261RAD0 0.33 GMALT 2021-2 A4 DTD 05/26/2021 0.410% 05/20/2025 34,464.39 34,997.56 4.38 34,997.05 05/26/2105/18/21NRAAA 35,000.00 380144AD7 0.41 HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 73,833.64 74,993.48 12.67 74,992.11 04/28/2104/20/21NRAAA 75,000.00 44933LAC7 0.38 NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 290,117.96 294,995.72 43.27 294,995.01 06/23/2106/15/21AaaAAA 295,000.00 65480BAC1 0.33 TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 318,246.89 324,970.02 37.56 324,965.00 06/14/2106/08/21NRAAA 325,000.00 89190GAC1 0.26 HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026 98,960.49 99,979.88 24.44 99,978.92 11/24/2111/16/21AaaNR 100,000.00 43815GAC3 0.89 CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 108,705.00 109,980.14 25.42 109,976.30 04/21/2104/13/21NRAAA 110,000.00 14314QAC8 0.52 Page 13 For the Month Ending January 31, 2022Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Asset-Backed Security HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 78,909.36 79,982.97 26.31 79,982.14 11/17/2111/09/21NRAAA 80,000.00 44935FAD6 0.75 DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026 190,295.72 194,961.17 50.27 194,958.25 09/27/2109/20/21AaaAAA 195,000.00 254683CP8 0.58 GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 83,977.37 84,997.95 24.08 84,997.83 10/21/2110/13/21AaaAAA 85,000.00 362554AC1 0.68 1,100.33 2,335,924.44 2,354,851.86 1.09 2,354,724.79 2,355,110.06 Security Type Sub-Total 31,511,224.05 31,839,901.15 1.06 70,844.58 31,690,508.93 31,262,651.01 Managed Account Sub-Total Joint Powers Authority CAMP Pool 436,606.51 436,606.51 0.00 436,606.51 NRAAAm 436,606.51 436,606.51 436,606.51 0.00 436,606.51 436,606.51 Liquid Sub-Total $31,947,830.56 $32,276,507.66 $70,844.58 $32,127,115.44 $31,699,257.52 1.06% $31,770,102.10 $70,844.58 Total Investments Accrued Interest Securities Sub-Total Page 14 For the Month Ending January 31, 2022Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration U.S. Treasury Bond / Note 8,842.62 11,897.46 781,781.25 100.88 MERRILL 775,000.00 912828T91US TREASURY NOTES DTD 10/31/2016 1.625% 10/31/2023 1.12 1.72 6,291.82 3,007.81 1,008,750.00 100.88 BNP_PARI 1,000,000.00 912828T91US TREASURY NOTES DTD 10/31/2016 1.625% 10/31/2023 1.12 1.72 1,172.66 (533.20) 178,007.81 101.72 MORGAN_S 175,000.00 912828XX3US TREASURY NOTES DTD 06/30/2017 2.000% 06/30/2024 1.27 2.37 748.28 (3,237.30) 330,585.94 101.72 HSBC 325,000.00 912828XX3US TREASURY NOTES DTD 06/30/2017 2.000% 06/30/2024 1.27 2.37 (4,997.13)(15,761.72) 508,593.75 101.72 HSBC 500,000.00 912828XX3US TREASURY NOTES DTD 06/30/2017 2.000% 06/30/2024 1.27 2.37 25,018.53 6,644.53 2,746,406.25 101.72 HSBC 2,700,000.00 912828XX3US TREASURY NOTES DTD 06/30/2017 2.000% 06/30/2024 1.27 2.37 (17,473.16)(29,101.56) 505,312.50 101.06 WELLS_F 500,000.00 912828YY0US TREASURY NOTES DTD 12/31/2019 1.750% 12/31/2024 1.38 2.85 (63,548.66)(109,375.00) 2,021,250.00 101.06 WELLS_F 2,000,000.00 912828YY0US TREASURY NOTES DTD 12/31/2019 1.750% 12/31/2024 1.38 2.85 (6,101.83)(5,156.25) 240,000.00 96.00 GOLDMAN 250,000.00 912828ZW3US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025 1.46 3.40 (12,996.58)(11,654.30) 432,000.00 96.00 MERRILL 450,000.00 912828ZW3US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025 1.46 3.40 (3,967.86)(3,591.80) 143,460.93 95.64 CITIGRP 150,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 1.53 3.89 (10,853.79)(10,117.21) 334,742.17 95.64 JPM_CHA 350,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 1.53 3.89 (5,867.76)(5,406.27) 382,562.48 95.64 CITIGRP 400,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 1.53 3.89 (16,213.87)(15,785.18) 430,382.79 95.64 JPM_CHA 450,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 1.53 3.89 (11,628.48)(10,587.92) 621,664.03 95.64 BNP_PAR 650,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 1.53 3.89 (26,205.18)(25,201.21) 789,035.12 95.64 CITIGRP 825,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 1.53 3.89 (9,288.51)(8,906.25) 917,937.50 96.63 CITIGRP 950,000.00 91282CBW0US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026 1.57 4.18 Page 15 For the Month Ending January 31, 2022Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration (232,865.37) 1.36 (147,068.90) 12,372,472.52 12,450,000.00 Security Type Sub-Total 2.89 Supra-National Agency Bond / Note (2,086.38)(1,886.99) 242,605.86 99.02 TD 245,000.00 459058JV6INTL BK OF RECON AND DEV NOTE DTD 04/20/2021 0.126% 04/20/2023 0.93 1.22 (7,523.57)(7,097.50) 491,827.50 98.37 TD 500,000.00 459058JM6INTL BK RECON & DEVELOP NOTES DTD 11/24/2020 0.250% 11/24/2023 1.16 1.81 (13,379.10)(13,322.93) 621,207.17 97.83 JPM_CHA 635,000.00 4581X0DZ8INTER-AMERICAN DEVEL BK NOTES DTD 09/23/2021 0.500% 09/23/2024 1.34 2.63 (22,307.42) 1.20 (22,989.05) 1,355,640.53 1,380,000.00 Security Type Sub-Total 2.08 Municipal Bond / Note 691.20 691.20 60,691.20 101.15 SIEBERT 60,000.00 20772KJW0CT ST TXBL GO BONDS DTD 06/11/2020 1.998% 07/01/2024 1.51 2.37 1,460.00 1,460.00 101,460.00 101.46 RBC 100,000.00 157411TK5CHAFFEY UHSD, CA TXBL GO BONDS DTD 12/05/2019 2.101% 08/01/2024 1.50 2.43 (10,006.75)(10,006.75) 314,993.25 96.92 WELLS_F 325,000.00 650036DT0NY ST URBAN DEV CORP TXBL REV BONDS DTD 12/23/2020 0.870% 03/15/2025 1.89 3.08 (2,282.25)(2,282.25) 82,717.75 97.32 04/15/25JPM_CHA 85,000.00 91412HGE7UNIV OF CAL TXBL REV BONDS DTD 07/16/2020 0.883% 05/15/2025 1.73 3.16 (455.61)(1,698.75) 77,124.00 102.83 MORGAN_ 75,000.00 20772KKK4CT ST T/E GO BONDS DTD 06/25/2020 2.000% 06/01/2025 1.13 3.24 (1,482.44)(1,614.60) 63,844.95 98.22 MERRILL 65,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 1.80 3.35 (1,911.93)(2,074.00) 83,489.55 98.22 MERRILL 85,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 1.80 3.35 (2,843.20)(2,843.20) 157,156.80 98.22 MERRILL 160,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 1.80 3.35 (3,200.00)(3,200.00) 96,800.00 96.80 MORGAN_ 100,000.00 60412AVJ9MN ST TXBL GO BONDS DTD 08/25/2020 0.630% 08/01/2025 1.57 3.46 (3,874.00)(3,874.00) 126,126.00 97.02 KEYBANC 130,000.00 798306WP7SAN JUAN USD, CA TXBL GO BONDS DTD 10/29/2020 0.852% 08/01/2025 1.73 3.44 (4,880.40)(4,880.40) 135,119.60 96.51 MERRILL 140,000.00 54438CYK2LOS ANGELES CCD, CA TXBL GO BONDS DTD 11/10/2020 0.773% 08/01/2025 1.80 3.45 Page 16 For the Month Ending January 31, 2022Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration Municipal Bond / Note (2,369.80)(2,369.80) 82,630.20 97.21 JPM_CHA 85,000.00 13077DQD7CA ST UNIV TXBL REV BONDS DTD 07/29/2021 0.862% 11/01/2025 1.63 3.69 (32,692.55) 1.71 (31,155.18) 1,382,153.30 1,410,000.00 Security Type Sub-Total 3.21 Federal Agency Commercial Mortgage-Backed Security 161.41 (51.03) 28,373.01 100.67 CITIGRP 28,184.02 3137BM6P6FHLMC SERIES K721 A2 DTD 12/01/2015 3.090% 08/01/2022 1.75 0.38 161.41 (51.03) 28,373.01 100.67 CITIGRP 28,184.02 3137BM6P6FHLMC SERIES K721 A2 DTD 12/01/2015 3.090% 08/01/2022 1.75 0.38 737.85 (233.21) 129,705.18 100.67 CITIGRP 128,841.24 3137BM6P6FHLMC SERIES K721 A2 DTD 12/01/2015 3.090% 08/01/2022 1.75 0.38 100.59 100.60 5,809.63 101.76 CSFB 5,709.05 3137FKK39FHMS KP05 A DTD 12/01/2018 3.203% 07/01/2023 1.94 1.42 294.76 295.12 31,490.03 100.94 JPM_CHAS 31,195.66 3137FQ3V3FHMS KJ27 A1 DTD 11/01/2019 2.092% 07/01/2024 1.69 0.92 1,168.96 (3,734.98) 258,647.83 103.46 CITIGRP 250,000.00 3137BGK24FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024 1.81 2.70 (3,674.53) 1.78 2,624.98 482,398.69 472,113.99 Security Type Sub-Total 1.67 Federal Agency Bond / Note (10,866.08)(10,423.80) 888,658.20 98.74 CITIGRP 900,000.00 3137EAEV7FREDDIE MAC NOTES DTD 08/21/2020 0.250% 08/24/2023 1.06 1.56 (4,996.51)(5,028.60) 370,039.88 98.68 NOMURA 375,000.00 3137EAEW5FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 1.08 1.60 (6,852.12)(6,770.93) 518,055.82 98.68 WELLS_F 525,000.00 3137EAEW5FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 1.08 1.60 (4,739.22)(4,215.57) 319,572.18 98.33 WELLS_F 325,000.00 3137EAEY1FREDDIE MAC NOTES DTD 10/16/2020 0.125% 10/16/2023 1.11 1.71 (5,207.30)(5,077.10) 344,607.90 98.46 CITIGRP 350,000.00 3137EAEZ8FREDDIE MAC NOTES DTD 11/05/2020 0.250% 11/06/2023 1.13 1.76 (5,062.51)(4,916.27) 319,713.23 98.37 NOMURA 325,000.00 3135G06H1FANNIE MAE NOTES DTD 11/25/2020 0.250% 11/27/2023 1.15 1.82 Page 17 For the Month Ending January 31, 2022Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration Federal Agency Bond / Note (4,857.40)(4,742.40) 294,960.60 98.32 CITIGRP 300,000.00 3137EAFA2FREDDIE MAC NOTES DTD 12/04/2020 0.250% 12/04/2023 1.17 1.84 (9,468.15)(8,843.80) 339,420.20 96.98 CITIGRP 350,000.00 3130AJHU6FEDERAL HOME LOAN BANK NOTES DTD 04/16/2020 0.500% 04/14/2025 1.47 3.18 (8,813.64)(8,557.50) 340,721.50 97.35 CITIGRP 350,000.00 3135G03U5FANNIE MAE NOTES DTD 04/24/2020 0.625% 04/22/2025 1.47 3.19 (14,663.98)(14,016.50) 408,867.00 96.20 WELLS_F 425,000.00 3137EAEU9FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025 1.50 3.45 (12,588.07)(12,118.40) 336,243.60 96.07 BARCLAY 350,000.00 3135G05X7FANNIE MAE NOTES DTD 08/27/2020 0.375% 08/25/2025 1.51 3.54 (5,662.47)(5,536.80) 144,013.20 96.01 WELLS_F 150,000.00 3130AK5E2FEDERAL HOME LOAN BANK NOTES DTD 09/11/2020 0.375% 09/04/2025 1.52 3.57 (26,560.25)(25,989.60) 671,903.40 95.99 CITIGRP 700,000.00 3137EAEX3FREDDIE MAC NOTES DTD 09/25/2020 0.375% 09/23/2025 1.51 3.62 (22,683.58)(22,113.65) 625,559.35 96.24 BARCLAY 650,000.00 3135G06G3FANNIE MAE NOTES DTD 11/12/2020 0.500% 11/07/2025 1.53 3.73 (138,350.92) 1.30 (143,021.28) 5,922,336.06 6,075,000.00 Security Type Sub-Total 2.56 Corporate Note 571.90 571.90 175,571.90 100.33 04/01/22JPM_CHAS 175,000.00 46647PBB1JPMORGAN CHASE & CO BONDS DTD 03/22/2019 3.207% 04/01/2023 2.92 0.17 (869.32)(841.05) 74,101.20 98.80 JPM_CHA 75,000.00 89236THF5TOYOTA MOTOR CREDIT CORP CORPORATE NOTES DTD 08/14/2020 0.500% 08/14/2023 1.29 1.53 12,848.22 11,109.20 413,957.20 103.49 12/23/23CITIGRP 400,000.00 693475AV7PNC BANK NA CORP NOTES (CALLABLE) DTD 01/23/2019 3.500% 01/23/2024 1.70 1.85 (1,717.38)(1,702.05) 103,245.45 98.33 02/18/24CSFB 105,000.00 808513BN4CHARLES SCHWAB CORP NOTES (CALLABLE) DTD 03/18/2021 0.750% 03/18/2024 1.55 2.03 (4,486.72)(4,429.11) 205,346.19 97.78 03/26/24JPM_CHA 210,000.00 06406RAS6BANK OF NY MELLON CORP NOTES (CALLABLE) DTD 04/26/2021 0.500% 04/26/2024 1.51 2.14 Page 18 For the Month Ending January 31, 2022Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration Corporate Note 7,138.81 (5,016.40) 417,899.60 104.47 WELLS_FA 400,000.00 61746BDQ6MORGAN STANLEY CORP NOTES DTD 04/28/2014 3.875% 04/29/2024 1.83 2.16 8,488.24 9,510.40 407,526.40 101.88 WELLS_FA 400,000.00 02665WCZ2AMERICAN HONDA FINANCE CORP NOTE DTD 06/27/2019 2.400% 06/27/2024 1.60 2.35 8,552.42 (1,510.80) 417,121.20 104.28 04/08/24SUSQ 400,000.00 38141EC23GOLDMAN SACHS GROUP INC (CALLABLE) BONDS DTD 07/08/2014 3.850% 07/08/2024 2.04 2.12 (1,570.11)(1,569.12) 68,424.58 97.75 GOLDMAN 70,000.00 05565EBU8BMW US CAPITAL LLC CORPORATE NOTES DTD 08/12/2021 0.750% 08/12/2024 1.66 2.50 1,825.00 2,613.20 400,981.20 100.25 JPM_CHAS 400,000.00 254687FK7WALT DISNEY COMPANY/THE DTD 09/06/2019 1.750% 08/30/2024 1.65 2.52 (2,376.44)(2,367.90) 97,567.10 97.57 HSBC 100,000.00 24422EVU0JOHN DEERE CAPITAL CORP CORPORATE NOTES DTD 09/10/2021 0.625% 09/10/2024 1.58 2.59 (5,226.35)(7,552.65) 175,341.60 100.20 MERRILL 175,000.00 69371RQ66PACCAR FINANCIAL CORP CORPORATE NOTES DTD 02/06/2020 1.800% 02/06/2025 1.73 2.92 (9,167.82)(16,710.30) 233,028.45 103.57 MKTX 225,000.00 172967JP7CITIGROUP INC CORP NOTES DTD 04/27/2015 3.300% 04/27/2025 2.15 3.08 (10,707.55)(11,095.15) 540,010.35 98.18 04/11/25GOLDMAN 550,000.00 037833DT4APPLE INC (CALLABLE) CORP NOTES DTD 05/11/2020 1.125% 05/11/2025 1.70 3.14 (7,981.47)(15,933.60) 236,313.90 105.03 03/15/25JPM_CHA 225,000.00 369550BG2GENERAL DYNAMICS CORP (CALLABLE) CORP NO DTD 05/11/2018 3.500% 05/15/2025 1.92 2.97 (7,896.73)(7,896.73) 307,103.27 97.49 JPM_CHA 315,000.00 46647PCH7JPMORGAN CHASE & CO CORPORATE NOTES DTD 06/01/2021 0.824% 06/01/2025 1.60 3.29 (14,135.43)(14,058.10) 460,709.15 96.99 GOLDMAN 475,000.00 023135BQ8AMAZON.COM INC CORPORATE NOTES DTD 06/03/2020 0.800% 06/03/2025 1.73 3.30 (8,290.10)(17,651.92) 239,266.58 106.34 MERRILL 225,000.00 06051GFS3BANK OF AMERICA CORP NOTES DTD 07/30/2015 3.875% 08/01/2025 1.99 3.26 (2,149.65)(4,588.31) 62,829.81 106.49 05/15/25WELLS_F 59,000.00 110122DC9BRISTOL-MYERS SQUIBB CO CORPORATE NOTES DTD 07/15/2020 3.875% 08/15/2025 1.97 3.08 Page 19 For the Month Ending January 31, 2022Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration Corporate Note (8,737.65)(18,108.45) 239,737.05 106.55 06/15/25US_BANC 225,000.00 002824BM1ABBOTT LABORATORIES CORPORATE NOTES (CAL DTD 03/22/2017 3.875% 09/15/2025 1.99 3.16 (3,674.92)(3,674.92) 221,325.08 98.37 12/06/24MERRILL 225,000.00 06051GKE8BANK OF AMERICA CORP NOTES (CALLABLE) DTD 12/06/2021 1.530% 12/06/2025 1.97 2.79 (6,719.04)(6,663.60) 217,944.90 96.86 04/15/26CITIGRP 225,000.00 91324PEC2UNITEDHEALTH GROUP INC (CALLABLE) CORPOR DTD 05/19/2021 1.150% 05/15/2026 1.91 4.11 (4,408.14)(4,382.04) 140,296.06 96.76 JPM_CHA 145,000.00 89236TJK2TOYOTA MOTOR CREDIT CORP CORPORATE NOTES DTD 06/18/2021 1.125% 06/18/2026 1.90 4.28 (5,656.67)(5,651.80) 169,295.70 96.74 07/12/26MITSU 175,000.00 05565EBW4BMW US CAPITAL LLC (CALLABLE) CORPORATE DTD 08/12/2021 1.250% 08/12/2026 2.01 4.31 (1,912.88)(1,901.02) 221,962.73 98.65 JPM_CHA 225,000.00 14913R2U0CATERPILLAR FINL SERVICE CORPORATE NOTES DTD 01/10/2022 1.700% 01/08/2027 1.99 4.75 (10.66)(10.36) 39,921.64 99.80 CITIGRP 40,000.00 87612EBM7TARGET CORP CORPORATE NOTES DTD 01/24/2022 1.950% 01/15/2027 1.99 4.75 (718.13)(715.82) 473,229.68 99.63 12/26/26DEUTSCH 475,000.00 06406RBA4BANK OF NY MELLON CORP (CALLABLE) CORPOR DTD 01/26/2022 2.050% 01/26/2027 2.13 4.69 (130,226.50) 1.85 (68,988.57) 6,760,057.97 6,719,000.00 Security Type Sub-Total 2.95 Certificate of Deposit 2,828.00 2,828.00 402,828.00 100.71 BARCLAYS 400,000.00 83050PDR7SKANDINAV ENSKILDA BANK LT CD DTD 09/03/2019 1.860% 08/26/2022 0.58 0.57 (1,160.50)(1,160.50) 248,839.50 99.54 CSFB 250,000.00 22552G3C2CREDIT SUISSE NEW YORK CERT DEPOS DTD 03/23/2021 0.590% 03/17/2023 1.00 1.12 1,667.50 0.74 1,667.50 651,667.50 650,000.00 Security Type Sub-Total 0.78 Page 20 For the Month Ending January 31, 2022Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration Asset-Backed Security 43.04 45.55 21,861.97 100.19 JPM_CHAS 21,819.68 43815AAC6HAROT 2018-4 A3 DTD 11/28/2018 3.160% 01/15/2023 2.95 0.08 26.40 26.81 13,556.34 100.19 CITIGRP 13,530.10 92869BAD4VALET 2018-2 A3 DTD 11/21/2018 3.250% 04/20/2023 3.09 0.08 12.66 14.57 11,171.39 100.11 JPM_CHAS 11,159.42 36255JAD6GMCAR 2018-3 A3 DTD 07/18/2018 3.020% 05/16/2023 2.94 0.07 36.97 38.94 20,063.76 100.18 BARCLAYS 20,027.55 14313FAD1CARMAX AUTO OWNER TRUST DTD 07/25/2018 3.130% 06/15/2023 3.00 0.08 388.55 388.97 69,396.92 100.56 MERRILL 69,008.58 14315EAC4CARMAX AUTO OWNER TRUST DTD 10/24/2018 3.360% 09/15/2023 3.00 0.21 128.44 130.85 34,691.76 100.37 RBC 34,564.73 36256XAD4GMCAR 2019-1 A3 DTD 01/16/2019 2.970% 11/16/2023 2.76 0.17 3,628.65 3,726.80 803,525.36 100.44 RBC 800,000.00 14041NFU0COMET 2019-A2 A2 DTD 09/05/2019 1.720% 08/15/2024 1.54 0.55 (844.06)(841.05) 84,146.12 99.00 RBC 85,000.00 36261RAD0GMALT 2021-1 A4 DTD 02/24/2021 0.330% 02/20/2025 0.66 1.40 (533.17)(532.66) 34,464.39 98.47 SOCGEN 35,000.00 380144AD7GMALT 2021-2 A4 DTD 05/26/2021 0.410% 05/20/2025 0.88 1.71 (1,159.84)(1,158.47) 73,833.64 98.44 BARCLAY 75,000.00 44933LAC7HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 0.82 1.45 (4,877.76)(4,877.05) 290,117.96 98.35 MITSU 295,000.00 65480BAC1NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 0.78 1.67 (6,723.13)(6,718.11) 318,246.89 97.92 CITIGRP 325,000.00 89190GAC1TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 0.82 1.50 (1,019.39)(1,018.43) 98,960.49 98.96 MERRILL 100,000.00 43815GAC3HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026 1.15 2.08 (1,275.14)(1,271.30) 108,705.00 98.82 MERRILL 110,000.00 14314QAC8CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 0.82 1.29 (1,073.61)(1,072.78) 78,909.36 98.64 SMBC 80,000.00 44935FAD6HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 1.07 2.11 (4,665.45)(4,662.53) 190,295.72 97.59 CITIGRP 195,000.00 254683CP8DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026 1.12 2.60 (1,020.58)(1,020.46) 83,977.37 98.80 JPM_CHA 85,000.00 362554AC1GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 0.95 2.13 Page 21 For the Month Ending January 31, 2022Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration (18,800.35) 1.26 (18,927.42) 2,335,924.44 2,355,110.06 Security Type Sub-Total 1.24 31,511,224.05 31,262,651.01 (577,250.14) (427,857.92) 1.45 Managed Account Sub-Total 2.63 Joint Powers Authority 0.00 0.00 436,606.51 1.00 436,606.51 CAMP Pool 0.00 436,606.51 436,606.51 0.00 0.00 Liquid Sub-Total 0.00 Total Investments $31,770,102.10 $70,844.58 $31,699,257.52 Accrued Interest Securities Sub-Total $31,947,830.56 ($577,250.14) ($427,857.92) 1.45% 2.63 Page 22 For the Month Ending January 31, 2022Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method BUY 01/06/22 US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026 91282CBW0 (926,843.75)(1,318.72)(928,162.47) 950,000.00 01/04/22 01/13/22 CATERPILLAR FINL SERVICE CORPORATE NOTES DTD 01/10/2022 1.700% 01/08/2027 14913R2U0 (223,863.75)(31.88)(223,895.63) 225,000.00 01/11/22 01/24/22 TARGET CORP CORPORATE NOTES DTD 01/24/2022 1.950% 01/15/2027 87612EBM7 (39,932.00) 0.00 (39,932.00) 40,000.00 01/19/22 01/28/22 BANK OF NY MELLON CORP (CALLABLE) CORPOR DTD 01/26/2022 2.050% 01/26/2027 06406RBA4 (473,945.50)(54.10)(473,999.60) 475,000.00 01/26/22 (1,404.70) (1,665,989.70)(1,664,585.00) 1,690,000.00 Transaction Type Sub-Total INTEREST 01/01/22 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 341271AD6 0.00 1,949.90 1,949.90 310,000.00 01/01/22 01/01/22 CT ST TXBL GO BONDS DTD 06/11/2020 1.998% 07/01/2024 20772KJW0 0.00 599.40 599.40 60,000.00 01/01/22 01/25/22 FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024 3137BGK24 0.00 637.92 637.92 250,000.00 01/01/22 01/25/22 FHMS KJ27 A1 DTD 11/01/2019 2.092% 07/01/2024 3137FQ3V3 0.00 143.65 143.65 34,007.57 01/01/22 01/25/22 FHMS KP05 A DTD 12/01/2018 3.203% 07/01/2023 3137FKK39 0.00 15.28 15.28 5,723.58 01/01/22 01/25/22 FHLMC SERIES K721 A2 DTD 12/01/2015 3.090% 08/01/2022 3137BM6P6 0.00 506.44 506.44 196,674.54 01/01/22 01/07/22 CATERPILLAR FINL SERVICE CORPORATE NOTES DTD 07/08/2020 0.650% 07/07/2023 14913R2D8 0.00 731.25 731.25 225,000.00 01/07/22 01/08/22 GOLDMAN SACHS GROUP INC (CALLABLE) BONDS DTD 07/08/2014 3.850% 07/08/2024 38141EC23 0.00 7,700.00 7,700.00 400,000.00 01/08/22 01/15/22 COMET 2019-A2 A2 DTD 09/05/2019 1.720% 08/15/2024 14041NFU0 0.00 1,146.67 1,146.67 800,000.00 01/15/22 Page 23 For the Month Ending January 31, 2022Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method INTEREST 01/15/22 CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 14314QAC8 0.00 47.67 47.67 110,000.00 01/15/22 01/15/22 HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 44935FAD6 0.00 49.33 49.33 80,000.00 01/15/22 01/15/22 TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 89190GAC1 0.00 70.42 70.42 325,000.00 01/15/22 01/15/22 DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026 254683CP8 0.00 94.25 94.25 195,000.00 01/15/22 01/15/22 NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 65480BAC1 0.00 81.13 81.13 295,000.00 01/15/22 01/15/22 HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 44933LAC7 0.00 23.75 23.75 75,000.00 01/15/22 01/15/22 CARMAX AUTO OWNER TRUST DTD 10/24/2018 3.360% 09/15/2023 14315EAC4 0.00 235.41 235.41 84,076.46 01/15/22 01/15/22 HAROT 2018-4 A3 DTD 11/28/2018 3.160% 01/15/2023 43815AAC6 0.00 93.12 93.12 35,363.87 01/15/22 01/15/22 CARMAX AUTO OWNER TRUST DTD 07/25/2018 3.130% 06/15/2023 14313FAD1 0.00 86.63 86.63 33,211.46 01/15/22 01/16/22 GMCAR 2018-3 A3 DTD 07/18/2018 3.020% 05/16/2023 36255JAD6 0.00 51.20 51.20 20,344.48 01/16/22 01/16/22 GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 362554AC1 0.00 48.17 48.17 85,000.00 01/16/22 01/16/22 GMCAR 2019-1 A3 DTD 01/16/2019 2.970% 11/16/2023 36256XAD4 0.00 108.77 108.77 43,947.57 01/16/22 01/20/22 GMALT 2021-2 A4 DTD 05/26/2021 0.410% 05/20/2025 380144AD7 0.00 11.96 11.96 35,000.00 01/20/22 01/20/22 GMALT 2021-1 A4 DTD 02/24/2021 0.330% 02/20/2025 36261RAD0 0.00 23.38 23.38 85,000.00 01/20/22 01/20/22 VALET 2018-2 A3 DTD 11/21/2018 3.250% 04/20/2023 92869BAD4 0.00 67.64 67.64 24,976.20 01/20/22 01/21/22 FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025 3137EAEU9 0.00 796.88 796.88 425,000.00 01/21/22 01/21/22 HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026 43815GAC3 0.00 73.33 73.33 100,000.00 01/21/22 Page 24 For the Month Ending January 31, 2022Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method INTEREST 01/23/22 PNC BANK NA CORP NOTES (CALLABLE) DTD 01/23/2019 3.500% 01/23/2024 693475AV7 0.00 7,000.00 7,000.00 400,000.00 01/23/22 22,393.55 22,393.55 0.00 4,733,325.73 Transaction Type Sub-Total MATURITY 01/24/22 CREDIT SUISSE NEW YORK COMM PAPER DTD 04/29/2021 0.000% 01/24/2022 2254EBAQ4 600,000.00 0.00 600,000.00 1,210.50 0.00 600,000.00 01/24/22 0.00 0.00 1,210.50 600,000.00 600,000.00 600,000.00 Transaction Type Sub-Total PAYDOWNS 01/25/22 FHLMC SERIES K721 A2 DTD 12/01/2015 3.090% 08/01/2022 3137BM6P6 1,744.71 0.00 1,744.71 (14.86) 0.00 1,744.71 01/01/22 01/25/22 FHMS KP05 A DTD 12/01/2018 3.203% 07/01/2023 3137FKK39 14.53 0.00 14.53 0.00 0.00 14.53 01/01/22 01/25/22 FHLMC SERIES K721 A2 DTD 12/01/2015 3.090% 08/01/2022 3137BM6P6 7,975.84 0.00 7,975.84 (67.92)(0.01) 7,975.83 01/01/22 01/25/22 FHLMC SERIES K721 A2 DTD 12/01/2015 3.090% 08/01/2022 3137BM6P6 1,744.71 0.00 1,744.71 (14.86) 0.00 1,744.71 01/01/22 01/25/22 FHMS KJ27 A1 DTD 11/01/2019 2.092% 07/01/2024 3137FQ3V3 2,811.91 0.00 2,811.91 0.07 0.00 2,811.91 01/01/22 01/15/22 CARMAX AUTO OWNER TRUST DTD 10/24/2018 3.360% 09/15/2023 14315EAC4 15,067.88 0.00 15,067.88 0.14 0.00 15,067.88 01/15/22 01/15/22 CARMAX AUTO OWNER TRUST DTD 07/25/2018 3.130% 06/15/2023 14313FAD1 13,183.91 0.00 13,183.91 1.79 0.00 13,183.91 01/15/22 01/15/22 HAROT 2018-4 A3 DTD 11/28/2018 3.160% 01/15/2023 43815AAC6 13,544.19 0.00 13,544.19 2.03 0.00 13,544.19 01/15/22 01/16/22 GMCAR 2019-1 A3 DTD 01/16/2019 2.970% 11/16/2023 36256XAD4 9,382.84 0.00 9,382.84 1.04 0.00 9,382.84 01/16/22 01/16/22 GMCAR 2018-3 A3 DTD 07/18/2018 3.020% 05/16/2023 36255JAD6 9,185.06 0.00 9,185.06 2.14 0.00 9,185.06 01/16/22 01/20/22 VALET 2018-2 A3 DTD 11/21/2018 3.250% 04/20/2023 92869BAD4 11,446.10 0.00 11,446.10 0.48 0.00 11,446.10 01/20/22 Page 25 For the Month Ending January 31, 2022Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method 0.00 (0.01)(89.95) 86,101.68 86,101.68 86,101.67 Transaction Type Sub-Total SELL 01/06/22 US TREASURY NOTES DTD 10/31/2016 1.625% 10/31/2023 912828T91 711,128.91 2,105.32 713,234.23 15,750.01 13,066.79 FIFO 700,000.00 01/04/22 01/13/22 CATERPILLAR FINL SERVICE CORPORATE NOTES DTD 07/08/2020 0.650% 07/07/2023 14913R2D8 224,446.50 24.38 224,470.88 (427.50)(491.31)FIFO 225,000.00 01/11/22 01/28/22 BANK OF NY MELLON CORP DTD 10/24/2019 2.100% 10/24/2024 06406RAL1 202,872.00 1,096.67 203,968.67 1,992.00 2,363.62 FIFO 200,000.00 01/26/22 3,226.37 14,939.10 17,314.51 1,141,673.78 1,138,447.41 1,125,000.00 Transaction Type Sub-Total 159,964.09 24,215.22 184,179.31 18,435.06 14,939.09 Managed Account Sub-Total Total Security Transactions $18,435.06 $184,179.31 $24,215.22 $159,964.09 $14,939.09 Page 26 For the Month Ending January 31, 2022Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 255,176.68 Opening Balance 01/03/22 01/03/22 Purchase - Interest 20772KJW0 1.00 599.40 255,776.08 01/03/22 01/03/22 Purchase - Interest 341271AD6 1.00 1,949.90 257,725.98 01/06/22 01/06/22 Purchase - Principal 912828T91 1.00 711,128.91 968,854.89 01/06/22 01/06/22 Purchase - Interest 912828T91 1.00 2,105.32 970,960.21 01/06/22 01/06/22 Redemption - Interest 91282CBW0 1.00 (1,318.72) 969,641.49 01/06/22 01/06/22 Redemption - Principal 91282CBW0 1.00 (926,843.75) 42,797.74 01/07/22 01/07/22 Purchase - Interest 14913R2D8 1.00 731.25 43,528.99 01/10/22 01/10/22 Purchase - Interest 38141EC23 1.00 7,700.00 51,228.99 01/13/22 01/13/22 Purchase - Principal 14913R2D8 1.00 224,446.50 275,675.49 01/13/22 01/13/22 Purchase - Interest 14913R2D8 1.00 24.38 275,699.87 01/13/22 01/13/22 Redemption - Principal 14913R2U0 1.00 (223,863.75) 51,836.12 01/13/22 01/13/22 Redemption - Interest 14913R2U0 1.00 (31.88) 51,804.24 01/18/22 01/18/22 Purchase - Interest 14041NFU0 1.00 1,146.67 52,950.91 01/18/22 01/18/22 Purchase - Interest 14313FAD1 1.00 86.63 53,037.54 01/18/22 01/18/22 Purchase - Interest 14314QAC8 1.00 47.67 53,085.21 01/18/22 01/18/22 Purchase - Interest 14315EAC4 1.00 235.41 53,320.62 01/18/22 01/18/22 Purchase - Interest 254683CP8 1.00 94.25 53,414.87 01/18/22 01/18/22 Purchase - Interest 362554AC1 1.00 48.17 53,463.04 01/18/22 01/18/22 Purchase - Interest 36255JAD6 1.00 51.20 53,514.24 01/18/22 01/18/22 Purchase - Interest 36256XAD4 1.00 108.77 53,623.01 01/18/22 01/18/22 Purchase - Interest 43815AAC6 1.00 93.12 53,716.13 Page 27 For the Month Ending January 31, 2022Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 01/18/22 01/18/22 Purchase - Interest 44933LAC7 1.00 23.75 53,739.88 01/18/22 01/18/22 Purchase - Interest 44935FAD6 1.00 49.33 53,789.21 01/18/22 01/18/22 Purchase - Interest 89190GAC1 1.00 70.42 53,859.63 01/18/22 01/18/22 Purchase - Interest 65480BAC1 1.00 81.13 53,940.76 01/18/22 01/18/22 Purchase - Principal 14313FAD1 1.00 13,183.91 67,124.67 01/18/22 01/18/22 Purchase - Principal 14315EAC4 1.00 15,067.88 82,192.55 01/18/22 01/18/22 Purchase - Principal 43815AAC6 1.00 13,544.19 95,736.74 01/18/22 01/18/22 Purchase - Principal 36255JAD6 1.00 9,185.06 104,921.80 01/18/22 01/18/22 Purchase - Principal 36256XAD4 1.00 9,382.84 114,304.64 01/20/22 01/20/22 Purchase - Interest 36261RAD0 1.00 23.38 114,328.02 01/20/22 01/20/22 Purchase - Interest 380144AD7 1.00 11.96 114,339.98 01/20/22 01/20/22 Purchase - Interest 92869BAD4 1.00 67.64 114,407.62 01/20/22 01/20/22 Purchase - Principal 92869BAD4 1.00 11,446.10 125,853.72 01/21/22 01/21/22 Purchase - Interest 3137EAEU9 1.00 796.88 126,650.60 01/21/22 01/21/22 Purchase - Interest 43815GAC3 1.00 73.33 126,723.93 01/24/22 01/24/22 Purchase - Interest 693475AV7 1.00 7,000.00 133,723.93 01/24/22 01/24/22 Purchase - Principal 2254EBAQ4 1.00 600,000.00 733,723.93 01/24/22 01/24/22 Redemption - Principal 87612EBM7 1.00 (39,932.00) 693,791.93 01/25/22 01/25/22 Purchase - Interest 3137BGK24 1.00 637.92 694,429.85 01/25/22 01/25/22 Purchase - Interest 3137BM6P6 1.00 506.44 694,936.29 01/25/22 01/25/22 Purchase - Interest 3137FKK39 1.00 15.28 694,951.57 01/25/22 01/25/22 Purchase - Interest 3137FQ3V3 1.00 59.29 695,010.86 Page 28 For the Month Ending January 31, 2022Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 01/25/22 01/25/22 Purchase - Correction to Interest 3137FQ3V3 from 01/25/2022 1.00 143.65 695,154.51 01/25/22 01/25/22 Purchase - Principal 3137FQ3V3 1.00 2,811.91 697,966.42 01/25/22 01/25/22 Purchase - Principal 3137FKK39 1.00 14.53 697,980.95 01/25/22 01/25/22 Purchase - Principal 3137BM6P6 1.00 1,744.71 699,725.66 01/25/22 01/25/22 Purchase - Principal 3137BM6P6 1.00 1,744.71 701,470.37 01/25/22 01/25/22 Purchase - Principal 3137BM6P6 1.00 7,975.84 709,446.21 01/25/22 01/25/22 Redemption - Reversal of Interest 3137FQ3V3 from 01/25/2022 1.00 (59.29) 709,386.92 01/26/22 01/26/22 IP Fees December 2021 1.00 (2,592.78) 706,794.14 01/26/22 01/26/22 U.S. Bank Fees November 2021 1.00 (166.60) 706,627.54 01/28/22 01/28/22 Purchase - Principal 06406RAL1 1.00 202,872.00 909,499.54 01/28/22 01/28/22 Purchase - Interest 06406RAL1 1.00 1,096.67 910,596.21 01/28/22 01/28/22 Redemption - Principal 06406RBA4 1.00 (473,945.50) 436,650.71 01/28/22 01/28/22 Redemption - Interest 06406RBA4 1.00 (54.10) 436,596.61 01/31/22 02/01/22 Accrual Income Div Reinvestment - Distributions 1.00 9.90 436,606.51 Page 29 For the Month Ending January 31, 2022Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate 436,606.51 436,606.51 436,606.51 231,196.43 9.90 0.00 (1,668,808.37) 1,850,238.20 255,176.68 9.90 436,606.51 0.00 (1,668,808.37) 1,850,238.20 255,176.68 Monthly Distribution Yield Average Monthly Balance Closing Balance Fiscal YTDMonth of Cash Dividends and Income Closing Balance Check Disbursements Redemptions (Excl. Checks) Purchases Opening Balance Closing Balance January January-January 0.05% Page 30 Review of Investment Performance CAMP Accounts Investment Performance ReviewFor the Quarter Ended December 31, 2021PFM Asset Management LLCCity of Lake ElsinoreNOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUEFor Institutional Investor or Investment Professional UseOnly - This material is not for inspection by, distributionto, or quotation to the general public © PFM Asset Management LLC pfmam.com|Market Update PFM Asset Management LLCFor the Quarter Ended December 31, 2021CLIENT NAMEMarketUpdateCurrent Market ThemesCLIENT NAMEFor the Quarter Ended December 31, 2021MarketUpdate© PFM Asset Management LLC |pfmam.com• COVID-19 caseloads reach record highs as the Omicron variant emerges as thedominant strain• The U.S. economy is characterized by:• Rapidly increasing inflation• Improved labor market conditions• Depressed consumer confidence• The Federal Reserve is reducing monetary policy accommodation• Accelerated pace of asset purchase tapering• Fed expects three rate hikes in 2022• Changing composition of FOMC leadership• The U.S. Treasury yield curve experiences “bear-flattening”• Short-term yields shift higher amid rate hike expectations• Longer-term yields adjust to evolving inflation and economic growth uncertaintiesCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Market Update© PFM Asset Management LLC pfmam.com|1 For the Quarter Ended December 31, 2021CLIENT NAMEMarketUpdateU.S. GDP Rebounds from Pandemic CLIENT NAMEFor the Quarter Ended December 31, 2021MarketUpdate• Persistent damage to supply chains continues todisrupt the production and distribution network• Age-related impacts to labor force growth predatingthe pandemic• Return to more normal household income and savingtrends• Normalizing fiscal and monetary policiesGrowth is Expected to Moderate…Factors Driving Growth…• Better-than-expected corporate profit margins fuelingequity markets• Unprecedented accommodative monetary policy andfiscal stimulus• Access to COVID-19 vaccines and reduction ofpandemic-era lockdowns• Continued adaptation of all sectors of the economy tothe challenging health situation2.3%2.9%2.3%-3.4%6.0%5.2%2.2% 2.2%-4.0%-2.0%0.0%2.0%4.0%6.0%8.0%20172018201920202021 (Estimate)2022 (Forecast)2023 (Forecast)2024 (Forecast)Real U.S. GDPSource: International Monetary Fund, October 2021 World Economic Outlook© PFM Asset Management LLC |pfmam.comActualForecastCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Market Update© PFM Asset Management LLC pfmam.com|2 PFM Asset Management LLCFor the Quarter Ended December 31, 2021MarketUpdateFor the Quarter Ended December 31, 2021MarketUpdate© PFM Asset Management LLC |pfmam.comSource: Bureau of Labor Statistics; latest available data as of December 2021; calculation from Bloomberg, pre-pandemic data as of December 2019.Uneven Labor Market Recovery Post-Pandemic Economic IndicatorPre-PandemicPandemicPeak/TroughCurrentUnemployment Rate3.6% 14.7% 3.9%Labor ForceParticipation Rate (Total)63.3% 60.2% 61.9%Labor ForceParticipation Rate(Prime Age)82.9% 79.9% 81.9%Average HourlyEarnings Growth 2.9% 0.3% 4.7%Job Opening Level6.8 MM 4.6 MM 10.6 MMTurnover Rate3.7% 10.8% 4.2%Quits Rate2.3% 1.6% 3.0%Initial Jobless Claims218 K 6.1 MM 207 KContinuing Claims1.8 MM 23.1 MM 1.8 MM1251301351401451501551602015 2016 2017 2018 2019 2020 2021MillionsTotal Nonfarm Payrolls ForecastA 4.0 million job gap from pre-pandemic levels remainsFor the Quarter Ended December 31, 2021Market Update© PFM Asset Management LLC pfmam.com|CITY OF LAKE ELSINORE3 PFM Asset Management LLC For the Quarter Ended December 31, 2021 MarketUpdate For the Quarter Ended December 31, 2021 MarketUpdate © PFM Asset Management LLC |pfmam.com Source: Bloomberg, as of December 2021. Consumer Prices Rise to Four Decade High 7.0% 5.5% -3% -2% -1% 0% 1% 2% 3% 4% 5% 6% 7% 8% Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Top -Line Contributions and CPI YoY Services (Ex Food & Energy)Goods (Ex Food & Energy)Food Energy Headline YoY%Core YoY% The spike in inflation has occurred through all sectors and persisted through much of 2021 CITY OF LAKE ELSINORE 4 PFM Asset Management LLCFor the Quarter Ended December 31, 2021CLIENT NAMEMarketUpdateCLIENT NAMEFor the Quarter Ended December 31, 2021MarketUpdate© PFM Asset Management LLC |pfmam.comSource: Federal Reserve and Bloomberg, as of 12/31/2021. Individual dots represent each Fed members’ judgement of the midpoint of the appropriate target range for the federal funds rate at each year-end. FOMC Accelerates Asset Purchase Tapering and Prepares for Rate Lift-off0%1%2%3%4%Fed Participants’ Assessments of ‘Appropriate’ Monetary PolicyDec-21 FOMC ProjectionsDec-21 MedianFed Funds Futures2024The market does not expect that the Fed will get to their longer-term neutral rate forecasts2021Longer Term20222023CITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Market Update© PFM Asset Management LLC pfmam.com|5 PFM Asset Management LLCFor the Quarter Ended December 31, 2021CLIENT NAMEMarketUpdateCLIENT NAMEFor the Quarter Ended December 31, 2021MarketUpdate© PFM Asset Management LLC |pfmam.comSource: Bloomberg, as of 12/31/2021.Impact of Curve Flattening on Performance0.03%0.73%1.26%1.51%1.90%0.00%0.50%1.00%1.50%2.00%2.50%3M1Y2Y3Y4Y5Y10Y30YMaturityU.S. Treasury Yield CurveDecember 31, 2021September 30, 2021-0.18%-0.53%-0.68%-0.51%-1.00%-0.50%0.00%0.50%1.00%1 Year1 - 3 Year1 - 5 Year1 - 10 YearU.S. Treasury Returns - Q4 2021Rising yields in Q4 negatively affected bond returnsCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Market Update© PFM Asset Management LLC pfmam.com|6 PFM Asset Management LLCFor the Quarter Ended December 31, 2021CLIENT NAMEMarketUpdateCLIENT NAMEFor the Quarter Ended December 31, 2021MarketUpdate© PFM Asset Management LLC |pfmam.comSector Yield Spreads Widened in Q4 Source: ICE BofAML 1-5 year Indices via Bloomberg, MarketAxess and PFM as of 12/31/2021. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries. CMBS is Commercial Mortgage-Backed Securities.0.00%0.15%0.30%0.45%0.60%0.75%Dec-20 Mar-21Jun-21Sep-21Dec-21Corporate Notes A-AAA Yield SpreadsCorporate yield spreads have widened modestly in Q4-0.10%-0.05%0.00%0.05%0.10%0.15%Dec-20 Mar-21 Jun-21Sep-21 Dec-21Federal Agency Yield SpreadsAgency yield spreads remained near-zero-0.50%0.00%0.50%1.00%1.50%2.00%Dec-20 Mar-21Jun-21Sep-21Dec-21Mortgage-Backed Securities Yield SpreadsAgency MBSAAA CMBS Index0.00%0.12%0.24%0.36%0.48%0.60%Dec-20 Mar-21Jun-21Sep-21Dec-21Asset-Backed Securities AAA Yield SpreadsABS yield spreads have widened off record-lowsCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Market Update© PFM Asset Management LLC pfmam.com|7 PFM Asset Management LLCFor the Quarter Ended December 31, 2021CLIENT NAMEMarketUpdateCLIENT NAMEFor the Quarter Ended December 31, 2021MarketUpdate© PFM Asset Management LLC |pfmam.comSource: ICE BofAML Indices. ABS indices are 0-5 year, based on weighted average life. As of 12/31/2021.Rising Rates and Wider Spreads Hampered Fixed-Income Returns in Q41-5 Year Indices-0.68%-0.70%-0.38%-0.69%-0.69%-1.0%-0.5%0.0%0.5%1.0%U.S. TreasuryAgencyABSCorp A-AAACorp BBBFourth Quarter 2021-1.10%-0.86%-0.18%-0.64%-0.02%-1.5%-1.0%-0.5%0.0%0.5%U.S. TreasuryAgencyABSCorp A-AAACorp BBBFull Year 2021CITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Market Update© PFM Asset Management LLC pfmam.com|8 © PFM Asset Management LLC pfmam.com|Account Summary © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Account Summary|Account SummaryYield at market, yield on cost, and portfolio duration only include investments held within the separately managed account(s).1.The current 7-day yield is the net change, exclusive of capital changes and income other than investment income, in the value of a hypothetical fund account with a balance of one share over the seven-daybase period including the statement date, expressed as a percentage of the value of one share (normally $1.00 per share) at the beginning of the seven-day period. This resulting net change in accountvalue is then annualized by multiplying it by 365 and dividing the result by 7. The yields quoted should not be considered a representation of the yield of the fund in the future, since the yield is not fixed.2.CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS - 6025-004Portfolio ValuesDecember 31, 2021CAMP Managed Account$31,759,451CAMP Pool$255,177Amortized Cost$32,097,188Market Value$31,759,451Accrued Interest$61,518Analytics¹December 31, 2021Yield at Market1.02%Yield on Cost1.04%Portfolio Duration2.54CAMP Pool7-Day Yield0.05%9 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Account Summary|0.8%7.6%20.4%1.9%2.0%4.4%4.3%1.6%18.7%38.4%0.0%20.0%40.0%60.0%80.0%100.0%Joint Powers Authority - $255,177ABS - $2,420,860Corporate - $6,542,340Commercial Paper - $599,933Negotiable CD - $653,808Municipal - $1,404,992Supranational - $1,365,868Agency CMBS - $501,232Federal Agency - $5,977,098U.S. Treasury - $12,293,320Portfolio AllocationSector Limit for Analysis*Sector Allocation AnalyticsFor informational/analytical purposes only and is not provided for compliance assurance.*Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided.10 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Compliance|Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM").Certificate of ComplianceDuring the reporting period for the quarter ended December 31, 2021, the account(s) managed by PFM Asset Management("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.Acknowledged :PFM Asset Management LLC11 © PFM Asset Management LLC pfmam.com|Portfolio Review © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Snapshot|Total market value includes accrued interest and balances invested in CAMP, as of December 31, 2021.Calculations exclude balances invested in CAMP.The portfolio’s benchmark is the the ICE BofAML 1-5 Year U.S. Treasury Index. Source: Bloomberg.An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.1.Portfolio StatisticsTotal Market Value$32,076,145.87Portfolio Effective Duration2.54 yearsBenchmark Effective Duration2.58 yearsYield At Cost1.04%Yield At Market1.02%Portfolio Credit QualityAAPortfolio Snapshot¹Credit Quality - S&P8%26%33%32%2%4%34%27%19%16%0%5%10%15%20%25%30%35%0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 YrsPortfolioBenchmarkDuration DistributionU.S. Treasury | 38%Corporate | 20%Federal Agency | 19%ABS | 8%Municipal | 4%Supranational | 4%Negotiable CD | 2%Commercial Paper | 2%Agency CMBS | 2%Joint Powers Authority | 1%Sector AllocationAAA | 11%AAAm | 1%AA+ | 62%AA | 3%AA- | 1%A+ | 4%A | 3%A- | 6%A-1 | 3%BBB+ | 5%Not Rated | 1%12 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Account Summary|Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Excludes balances invested in money marketfunds.Issuer DiversificationMarket Value (%)S&P / Moody's / FitchSecurity Type / Issuer38.7%U.S. TreasuryUNITED STATES TREASURY 38.7% AA / Aaa / AAA18.8%Federal AgencyFANNIE MAE5.2%AA / Aaa / AAAFEDERAL HOME LOAN BANKS1.5%AA / Aaa / NRFREDDIE MAC12.1% AA / Aaa / AAA1.6%Agency CMBSFREDDIE MAC1.6% AA / Aaa / AAA4.3%SupranationalINTER-AMERICAN DEVELOPMENT BANK2.0% AAA / Aaa / AAAINTL BANK OF RECONSTRUCTION AND DEV 2.3% AAA / Aaa / AAA4.4%MunicipalCALIFORNIA STATE UNIVERSITY 0.3% AA / Aa / NRCHAFFEY JOINT UNION HIGH SCHOOLDISTRICT0.3% AA / Aa / NRFLORIDA STATE BOARD OF ADMIN FIN CORP1.0% AA / Aa / AALOS ANGELES COMMUNITY COLLEGEDISTRICT0.4% AA / Aaa / NRNEW YORK ST URBAN DEVELOPMENT CORP1.0% AA / NR / AASAN JUAN UNIFIED SCHOOL DISTRICT0.4% NR / Aa / NRSTATE OF CONNECTICUT0.4% A / Aa / AASTATE OF MINNESOTA0.3% AAA / Aa / AAAUNIVERSITY OF CALIFORNIA0.3%AA / Aa / AA2.1%Negotiable CDCREDIT SUISSE GROUP RK0.8%A / A / ASKANDINAVISKA ENSKILDA BANKEN AB1.3%A / Aa / AA1.9%Commercial PaperCREDIT SUISSE GROUP RK1.9% A / Aa / AMarket Value (%)S&P / Moody's / FitchSecurity Type / Issuer20.6%CorporateABBOTT LABORATORIES0.8%A / A / NRAMAZON.COM INC1.5%AA / A / AAAMERICAN HONDA FINANCE1.3%A / A / NRAPPLE INC1.7%AA / Aaa / NRBANK OF AMERICA CO1.5%A / A / AABMW FINANCIAL SERVICES NA LLC0.8%A / A / NRBRISTOL-MYERS SQUIBB CO0.2%A / A / NRCATERPILLAR INC0.7%A / A / ACHARLES SCHWAB0.3%A / A / ACITIGROUP INC0.8%BBB / A / ADEERE & COMPANY0.3%A / A / AGENERAL DYNAMICS CORP0.8%A / A / NRGOLDMAN SACHS GROUP INC1.3%BBB / A / AJP MORGAN CHASE & CO1.5%A / A / AAMORGAN STANLEY1.3%BBB / A / APACCAR FINANCIAL CORP0.6%A / A / NRPNC FINANCIAL SERVICES GROUP1.3%A / A / ATHE BANK OF NEW YORK MELLONCORPORATION1.3%A / A / AATHE WALT DISNEY CORPORATION1.3%BBB / A / ATOYOTA MOTOR CORP0.7%A / A / AUNITEDHEALTH GROUP INC0.7%A / A / A7.6%ABSCAPITAL ONE FINANCIAL CORP2.5% AAA / NR / AAACARMAX AUTO OWNER TRUST0.7% AAA / NR / AAADISCOVER FINANCIAL SERVICES0.6%AAA / Aaa / NRGM FINANCIAL CONSUMER AUTOMOBILETRUST0.5% AAA / Aaa / AAA13 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Account Summary|Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Excludes balances invested in money marketfunds.Issuer DiversificationMarket Value (%)S&P / Moody's / FitchSecurity Type / Issuer7.6%ABSGM FINANCIAL LEASINGTRUST0.4% AAA / Aaa / AAAHONDA AUTO RECEIVABLES0.4% AAA / Aaa / AAAHYUNDAI AUTO RECEIVABLES0.5% AAA / NR / AAANISSAN AUTO RECEIVABLES0.9%AAA / Aaa / NRTOYOTA MOTOR CORP1.0% AAA / NR / AAAVOLKSWAGEN OF AMERICA0.1%AAA / Aaa / NR100.0%Total14 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Activity|Portfolio ActivityNet Activity by Sector($ millions)Commercial PaperAgency CMBSABSCorporateU.S. TreasuryCommercial PaperAgency CMBSABSCorporateU.S. Treasury($1.5) ($1.0) ($0.5) $0.0 $0.5 $1.0 $1.5Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.SectorNet ActivityU.S. Treasury$1,021,710Corporate$225,000ABS$40,117Agency CMBS($74,296)Commercial Paper($1,300,000)($87,469)Total Net ActivitySales/Maturities Purchases15 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Characteristics|$0$7$13$20$26$33December 2021$0$7$13$20$26$33September 2021$0$7$13$20$26$33June 2021$0$7$13$20$26$33MillionsMarch 2021Sector Allocation ReviewU.S. TreasuryFederal AgencyAgency CMBSSupranationalMunicipalNegotiable CDCommercial PaperCorporateABSJoint Powers AuthorityMarket values, excluding accrued interest. Only includes investments held within the separately managed account(s). Detail may not add to total due to rounding.Mar-21 % of TotalSecurity TypeJun-21 % of TotalSep-21 % of Total% of TotalDec-21U.S. Treasury$11.034.0%$11.535.7%$11.435.5%$12.338.3%Federal Agency$6.018.7%$6.018.7%$6.018.7%$6.018.7%Agency CMBS$0.72.1%$0.61.9%$0.61.8%$0.51.6%Supranational$0.51.6%$0.72.3%$1.44.3%$1.44.3%Municipal$1.34.2%$1.34.2%$1.44.4%$1.44.4%Negotiable CD$1.34.2%$0.72.0%$0.72.0%$0.72.0%Commercial Paper$0.93.0%$1.95.9%$1.95.9%$0.61.9%Corporate$6.620.4%$6.118.8%$6.419.9%$6.520.4%ABS$2.06.1%$2.57.7%$2.47.4%$2.47.6%Joint Powers Authority$1.85.7%$0.92.8%$0.00.1%$0.30.8%Total$32.1100.0%$32.3100.0%$32.2100.0%$32.0100.0%16 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Performance|The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is September 30, 2010.1.Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.3.The portfolio’s benchmark is the ICE BofAML 1-5 Year U.S. Treasury Index. Source: Bloomberg.4.-2.0%-1.0%0.0%1.0%2.0%3.0%ReturnPortfolioBenchmarkNet of FeesPortfolio PerformanceMarket Value Basis Earnings3 Months1 Year3 Years5 Years10 YearsInterest Earned²$100,791$444,728$1,962,293 $3,206,415 $5,281,880Change in Market Value($341,575) ($776,125)$957,860$694,949$262,441($240,784)Total Dollar Return($331,397)$2,920,153 $3,901,364 $5,544,321Total Return³Portfolio-0.74%-1.02%2.73%2.19%1.66%Benchmark⁴-0.68%-1.10%2.42%1.88%1.34%Basis Point Fee- 0.10%0.09%0.09%0.09%Net of Fee Return-0.74%-1.12%2.63%2.09%1.57%3 Months1 Year3 Years5 Years10 Years17 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Performance|Performance on trade-date basis, gross (i.e., before fees), in accordance with the CFA Institute’s Global Investment Performance Standards (GIPS).1.Income returns calculated as interest earned on investments during the period.2.Price returns calculated as the change in market value of each security for the period.3.Returns are presented on a periodic basis.4.Quarterly Sector PerformanceTotal Return by SectorContribution to Total ReturnCashABSCorporateCommercial PaperNegotiable CDMunicipalForeign GovernmentSupranationalAgency CMBSFederal AgencyU.S. Treasury-0.80%-0.60%-0.40%-0.20%0.00%0.20%U.S. Treasury | -0.32%Federal Agency | -0.16%Agency CMBS | -0.01%Supranational | -0.03%Municipal | -0.04%Negotiable CD | >-0.01%Commercial Paper | <0.01%Corporate | -0.15%ABS | -0.03%Cash | <0.01%Price Returns Income ReturnsReturn0.01%0.31%0.52%0.00%0.35%0.28%0.00%0.09%0.92%0.09%0.36%0.00%-0.75%-1.29%0.04%-0.44%-1.15%0.00%-0.85%-1.27%-0.94%-1.24%-4.5% -3.2% -1.8% -0.4% 0.9% 2.3%Return18 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Performance|The lesser of 10 years or since inception is shown. Performance inception date is September 30, 2010.1.Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.Realized gains / (losses) are shown on an amortized cost basis.3.Accrual Basis EarningsAccrual Basis EarningsInterest EarnedRealized Gains / (Losses)Change in Amortized CostTotal Earnings3 Months$100,791-($19,528)$81,2631 Year$444,728$64,393($81,717)$427,4043 Years$1,962,293$767,997($40,596)$2,689,6945 Year$3,206,415$511,909($76,088)$3,642,23610 Year$5,281,880$1,019,714($453,775)$5,847,81919 © PFM Asset Management LLC pfm.com|Portfolio Holdings © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Holdings|Managed Account Detail of Securities HeldSecurity Type/DescriptionDated Date/Coupon/Maturity CUSIP ParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueU.S. TreasuryUS TREASURY NOTESDTD 10/31/2016 1.625% 10/31/2023912828T91 1,000,000.00 AA+ Aaa 10/2/2019 10/4/2019 1,005,742.19 1.48 2,783.15 1,016,875.00US TREASURY NOTESDTD 10/31/2016 1.625% 10/31/2023912828T91 1,475,000.00 AA+ Aaa 7/1/2019 7/3/2019 1,465,262.69 1.78 4,105.14 1,499,890.63US TREASURY NOTESDTD 06/30/2017 2.000% 06/30/2024912828XX3 500,000.00 AA+ Aaa 3/2/2020 3/6/2020 524,355.47 0.85 27.62 513,828.10US TREASURY NOTESDTD 06/30/2017 2.000% 06/30/2024912828XX3 175,000.00 AA+ Aaa 11/1/2019 11/6/2019 178,541.01 1.559.67 179,839.84US TREASURY NOTESDTD 06/30/2017 2.000% 06/30/2024912828XX3 2,700,000.00 AA+ Aaa 1/2/2020 1/7/2020 2,739,761.72 1.66 149.17 2,774,671.74US TREASURY NOTESDTD 06/30/2017 2.000% 06/30/2024912828XX3 325,000.00 AA+ Aaa 2/3/2020 2/7/2020 333,823.24 1.36 17.96 333,988.26US TREASURY NOTESDTD 12/31/2019 1.750% 12/31/2024912828YY0 2,000,000.00 AA+ Aaa 7/1/2020 7/6/2020 2,130,625.00 0.28 96.69 2,045,312.40US TREASURY NOTESDTD 12/31/2019 1.750% 12/31/2024912828YY0500,000.00 AA+ Aaa 8/5/2020 8/7/2020 534,414.06 0.18 24.17 511,328.10US TREASURY NOTESDTD 06/30/2020 0.250% 06/30/2025912828ZW3 450,000.00 AA+ Aaa 3/1/2021 3/4/2021 443,654.30 0.583.11 437,132.79US TREASURY NOTESDTD 06/30/2020 0.250% 06/30/2025912828ZW3 250,000.00 AA+ Aaa 4/1/2021 4/5/2021 245,156.25 0.721.72 242,851.55US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/202591282CBC4350,000.00 AA+ Aaa 6/2/2021 6/7/2021 344,859.38 0.703.63 339,171.87US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/202591282CBC4650,000.00 AA+ Aaa 11/2/2021 11/4/2021 632,251.95 1.056.73 629,890.63US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/202591282CBC4150,000.00 AA+ Aaa 7/1/2021 7/7/2021 147,052.73 0.821.55 145,359.38US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/202591282CBC4825,000.00 AA+ Aaa 9/1/2021 9/7/2021 814,236.33 0.688.54 799,476.56US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/202591282CBC4400,000.00 AA+ Aaa 12/2/2021 12/6/2021 387,968.75 1.134.14 387,625.0020 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIP ParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueU.S. TreasuryUS TREASURY NOTESDTD 12/31/2020 0.375% 12/31/202591282CBC4450,000.00 AA+ Aaa 8/3/2021 8/5/2021 446,167.97 0.574.66 436,078.1212,200,000.0012,373,873.047,247.65 12,293,319.97Security Type Sub-Total1.08SupranationalINTL BK OF RECON AND DEV NOTEDTD 04/20/2021 0.126% 04/20/2023459058JV6 245,000.00 AAA Aaa 4/13/2021 4/20/2021 244,492.85 0.23 60.88 243,614.28INTL BK RECON & DEVELOP NOTESDTD 11/24/2020 0.250% 11/24/2023459058JM6 500,000.00 AAA Aaa 11/17/2020 11/24/2020 498,925.00 0.32 128.47 495,374.00INTER-AMERICAN DEVEL BK NOTESDTD 09/23/2021 0.500% 09/23/20244581X0DZ8635,000.00 AAA Aaa 9/15/2021 9/23/2021 634,530.10 0.52 864.31 626,879.621,380,000.001,377,947.951,053.66 1,365,867.90Security Type Sub-Total0.40Negotiable CDSKANDINAV ENSKILDA BANK LT CDDTD 09/03/2019 1.860% 08/26/202283050PDR7400,000.00 A-1 P-1 8/29/2019 9/3/2019 400,000.00 1.85 2,645.33 403,863.60CREDIT SUISSE NEW YORK CERTDEPOSDTD 03/23/2021 0.590% 03/17/202322552G3C2250,000.00 A+ A1 3/19/2021 3/23/2021 250,000.00 0.59 1,163.61 249,944.50650,000.00650,000.003,808.94 653,808.10Security Type Sub-Total1.37MunicipalCT ST TXBL GO BONDSDTD 06/11/2020 1.998% 07/01/202420772KJW0 60,000.00 A+ Aa3 5/29/2020 6/11/2020 60,000.00 2.00 599.40 61,548.00CHAFFEY UHSD, CA TXBL GO BONDSDTD 12/05/2019 2.101% 08/01/2024157411TK5100,000.00 AA- Aa1 11/6/2019 12/5/2019 100,000.00 2.10 875.42 102,810.00NY ST URBAN DEV CORP TXBL REVBONDSDTD 12/23/2020 0.870% 03/15/2025650036DT0325,000.00 AA+ NR 12/16/2020 12/23/2020 325,000.00 0.87 832.54 320,515.00UNIV OF CAL TXBL REV BONDSDTD 07/16/2020 0.883% 05/15/202591412HGE785,000.00 AA Aa2 7/10/2020 7/16/2020 85,000.00 0.88 95.90 84,127.9021 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIP ParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueMunicipalCT ST T/E GO BONDSDTD 06/25/2020 2.000% 06/01/202520772KKK475,000.00 A+ Aa3 6/12/2020 6/25/2020 78,822.75 0.94 125.00 79,026.75FL ST BOARD OF ADMIN TXBL REVBONDSDTD 09/16/2020 1.258% 07/01/2025341271AD685,000.00 AA Aa3 9/3/2020 9/16/2020 85,563.55 1.12 534.65 84,653.20FL ST BOARD OF ADMIN TXBL REVBONDSDTD 09/16/2020 1.258% 07/01/2025341271AD665,000.00 AA Aa3 9/3/2020 9/16/2020 65,459.55 1.11 408.85 64,734.80FL ST BOARD OF ADMIN TXBL REVBONDSDTD 09/16/2020 1.258% 07/01/2025341271AD6160,000.00 AA Aa3 9/3/2020 9/16/2020 160,000.00 1.26 1,006.40 159,347.20SAN JUAN USD, CA TXBL GO BONDSDTD 10/29/2020 0.852% 08/01/2025798306WP7130,000.00 NR Aa2 10/16/2020 10/29/2020 130,000.00 0.85 461.50 128,421.80LOS ANGELES CCD, CA TXBL GOBONDSDTD 11/10/2020 0.773% 08/01/202554438CYK2140,000.00 AA+ Aaa 10/30/2020 11/10/2020 140,000.00 0.77 450.92 137,565.40MN ST TXBL GO BONDSDTD 08/25/2020 0.630% 08/01/202560412AVJ9100,000.00 AAA Aa1 8/11/2020 8/25/2020 100,000.00 0.63 262.50 98,565.00CA ST UNIV TXBL REV BONDSDTD 07/29/2021 0.862% 11/01/202513077DQD785,000.00 AA- Aa2 7/9/2021 7/29/2021 85,000.00 0.86 122.12 83,677.401,410,000.001,414,845.855,775.20 1,404,992.45Security Type Sub-Total1.06Joint Powers AuthorityCAMP Pool255,176.68 AAAm NR255,176.68 0.00 255,176.68255,176.68255,176.68 0.00 255,176.68Security Type Sub-Total0.00Federal AgencyFREDDIE MAC NOTESDTD 08/21/2020 0.250% 08/24/20233137EAEV7900,000.00 AA+ Aaa 8/19/2020 8/21/2020 899,082.00 0.28 793.75 894,215.70FREDDIE MAC NOTESDTD 09/04/2020 0.250% 09/08/20233137EAEW5 375,000.00 AA+ Aaa 9/2/2020 9/4/2020 375,068.48 0.24 294.27 372,283.8822 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIP ParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueFederal AgencyFREDDIE MAC NOTESDTD 09/04/2020 0.250% 09/08/20233137EAEW5 525,000.00 AA+ Aaa 9/2/2020 9/4/2020 524,826.75 0.26 411.98 521,197.42FREDDIE MAC NOTESDTD 10/16/2020 0.125% 10/16/20233137EAEY1325,000.00 AA+ Aaa 10/14/2020 10/16/2020 323,787.75 0.25 84.64 321,607.65FREDDIE MAC NOTESDTD 11/05/2020 0.250% 11/06/20233137EAEZ8 350,000.00 AA+ Aaa 11/3/2020 11/5/2020 349,685.00 0.28 133.68 346,905.65FANNIE MAE NOTESDTD 11/25/2020 0.250% 11/27/20233135G06H1325,000.00 AA+ Aaa 11/23/2020 11/25/2020 324,629.50 0.29 76.74 321,975.55FREDDIE MAC NOTESDTD 12/04/2020 0.250% 12/04/20233137EAFA2 300,000.00 AA+ Aaa 12/2/2020 12/4/2020 299,703.00 0.28 56.25 297,123.00FEDERAL HOME LOAN BANK NOTESDTD 04/16/2020 0.500% 04/14/20253130AJHU6350,000.00 AA+ Aaa 4/15/2020 4/16/2020 348,264.00 0.60 374.31 343,611.45FANNIE MAE NOTESDTD 04/24/2020 0.625% 04/22/20253135G03U5350,000.00 AA+ Aaa 4/22/2020 4/24/2020 349,279.00 0.67 419.27 344,984.85FREDDIE MAC NOTESDTD 07/23/2020 0.375% 07/21/20253137EAEU9 425,000.00 AA+ Aaa 7/21/2020 7/23/2020 422,883.50 0.48 708.33 413,825.90FANNIE MAE NOTESDTD 08/27/2020 0.375% 08/25/20253135G05X7350,000.00 AA+ Aaa 8/25/2020 8/27/2020 348,362.00 0.47 459.38 340,435.20FEDERAL HOME LOAN BANK NOTESDTD 09/11/2020 0.375% 09/04/20253130AK5E2150,000.00 AA+ Aaa 9/10/2020 9/11/2020 149,550.00 0.44 182.81 145,820.40FREDDIE MAC NOTESDTD 09/25/2020 0.375% 09/23/20253137EAEX3 700,000.00 AA+ Aaa 9/23/2020 9/25/2020 697,893.00 0.44 714.58 680,220.80FANNIE MAE NOTESDTD 11/12/2020 0.500% 11/07/20253135G06G3650,000.00 AA+ Aaa 11/9/2020 11/12/2020 647,673.00 0.57 487.50 632,890.056,075,000.006,060,686.985,197.49 5,977,097.50Security Type Sub-Total0.39CorporateJPMORGAN CHASE & CO BONDSDTD 03/22/2019 3.207% 04/01/202346647PBB1175,000.00 A- A2 3/15/2019 3/22/2019 175,000.00 3.21 1,403.06 176,048.08CATERPILLAR FINL SERVICECORPORATE NOTESDTD 07/08/2020 0.650% 07/07/202314913R2D8 225,000.00 A A2 7/6/2020 7/8/2020 224,874.00 0.67 706.88 224,805.8323 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIP ParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueCorporateTOYOTA MOTOR CREDIT CORPCORPORATE NOTESDTD 08/14/2020 0.500% 08/14/202389236THF575,000.00 A+ A1 8/11/2020 8/14/2020 74,942.25 0.53 142.71 74,720.25PNC BANK NA CORP NOTES(CALLABLE)DTD 01/23/2019 3.500% 01/23/2024693475AV7400,000.00 A- A3 2/12/2019 2/15/2019 402,848.00 3.34 6,144.44 418,574.80CHARLES SCHWAB CORP NOTES(CALLABLE)DTD 03/18/2021 0.750% 03/18/2024808513BN4105,000.00 A A2 3/16/2021 3/18/2021 104,947.50 0.77 225.31 104,519.31BANK OF NY MELLON CORP NOTES(CALLABLE)DTD 04/26/2021 0.500% 04/26/202406406RAS6 210,000.00 A A1 4/19/2021 4/26/2021 209,775.30 0.54 189.58 207,335.94MORGAN STANLEY CORP NOTESDTD 04/28/2014 3.875% 04/29/202461746BDQ6400,000.00 BBB+ A1 7/19/2019 7/23/2019 422,916.00 2.59 2,669.44 423,773.60AMERICAN HONDA FINANCE CORPNOTEDTD 06/27/2019 2.400% 06/27/202402665WCZ2 400,000.00 A- A3 7/11/2019 7/15/2019 398,016.00 2.51 106.67 411,879.60GOLDMAN SACHS GROUP INC(CALLABLE) BONDSDTD 07/08/2014 3.850% 07/08/202438141EC23400,000.00 BBB+ A2 7/8/2019 7/11/2019 418,632.00 2.84 7,400.56 422,663.20BMW US CAPITAL LLC CORPORATENOTESDTD 08/12/2021 0.750% 08/12/202405565EBU870,000.00 A A2 8/9/2021 8/12/2021 69,993.70 0.75 202.71 69,170.85WALT DISNEY COMPANY/THEDTD 09/06/2019 1.750% 08/30/2024254687FK7400,000.00 BBB+ A2 9/3/2019 9/6/2019 398,368.00 1.84 2,352.78 406,546.00JOHN DEERE CAPITAL CORPCORPORATE NOTESDTD 09/10/2021 0.625% 09/10/202424422EVU0100,000.00 A A2 9/7/2021 9/10/2021 99,935.00 0.65 192.71 98,846.30BANK OF NY MELLON CORPDTD 10/24/2019 2.100% 10/24/202406406RAL1 200,000.00 A A1 1/21/2020 1/28/2020 200,880.00 2.00 781.67 205,223.00PACCAR FINANCIAL CORPCORPORATE NOTESDTD 02/06/2020 1.800% 02/06/202569371RQ66175,000.00 A+ A1 10/22/2020 10/29/2020 182,894.25 0.73 1,268.75 177,633.23CITIGROUP INC CORP NOTESDTD 04/27/2015 3.300% 04/27/2025172967JP7 225,000.00 BBB+ A3 8/28/2020 9/1/2020 249,738.75 0.88 1,320.00 238,437.2324 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIP ParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueCorporateAPPLE INC (CALLABLE) CORP NOTESDTD 05/11/2020 1.125% 05/11/2025037833DT4550,000.00 AA+ Aaa 5/11/2020 5/13/2020 551,105.50 1.08 859.38 548,373.65GENERAL DYNAMICS CORP(CALLABLE) CORP NODTD 05/11/2018 3.500% 05/15/2025369550BG2225,000.00 A- A3 10/16/2020 10/20/2020 252,247.50 0.80 1,006.25 240,505.65JPMORGAN CHASE & COCORPORATE NOTESDTD 06/01/2021 0.824% 06/01/202546647PCH7315,000.00 A- A2 5/24/2021 6/1/2021 315,000.00 0.82 216.30 311,239.22AMAZON.COM INC CORPORATENOTESDTD 06/03/2020 0.800% 06/03/2025023135BQ8475,000.00 AA A1 6/3/2020 6/5/2020 474,767.25 0.81 295.56 468,664.45BANK OF AMERICA CORP NOTESDTD 07/30/2015 3.875% 08/01/202506051GFS3225,000.00 A- A2 8/18/2020 8/20/2020 256,918.50 0.93 3,632.81 243,776.93BRISTOL-MYERS SQUIBB COCORPORATE NOTESDTD 07/15/2020 3.875% 08/15/2025110122DC959,000.00 A+ A2 9/29/2020 9/30/2020 67,418.12 0.88 863.69 63,534.56ABBOTT LABORATORIESCORPORATE NOTES (CALDTD 03/22/2017 3.875% 09/15/2025002824BM1225,000.00 A+ A2 9/24/2020 9/28/2020 257,845.50 0.86 2,567.19 243,932.18BANK OF AMERICA CORP NOTES(CALLABLE)DTD 12/06/2021 1.530% 12/06/202506051GKE8225,000.00 A- A2 12/1/2021 12/6/2021 225,000.00 1.53 239.06 225,163.13UNITEDHEALTH GROUP INC(CALLABLE) CORPORDTD 05/19/2021 1.150% 05/15/202691324PEC2225,000.00 A+ A3 5/17/2021 5/19/2021 224,608.50 1.19 330.63 222,118.43TOYOTA MOTOR CREDIT CORPCORPORATE NOTESDTD 06/18/2021 1.125% 06/18/202689236TJK2145,000.00 A+ A1 9/8/2021 9/13/2021 144,678.10 1.17 58.91 142,525.58BMW US CAPITAL LLC (CALLABLE)CORPORATEDTD 08/12/2021 1.250% 08/12/202605565EBW4 175,000.00 A A2 8/12/2021 8/16/2021 174,947.50 1.26 844.62 172,328.806,404,000.006,578,297.2236,021.67 6,542,339.80Security Type Sub-Total1.5625 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIP ParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueCommercial PaperCREDIT SUISSE NEW YORK COMMPAPERDTD 04/29/2021 0.000% 01/24/20222254EBAQ4 600,000.00 A-1 P-1 4/29/2021 4/30/2021 598,789.50 0.270.00 599,932.80600,000.00598,789.500.00 599,932.80Security Type Sub-Total0.27Agency CMBSFHLMC SERIES K721 A2DTD 12/01/2015 3.090% 08/01/20223137BM6P629,928.73 AA+ Aaa 4/4/2018 4/9/2018 30,183.61 3.09 77.07 30,188.29FHLMC SERIES K721 A2DTD 12/01/2015 3.090% 08/01/20223137BM6P629,928.73 AA+ Aaa 4/4/2018 4/9/2018 30,183.61 3.08 77.07 30,188.28FHLMC SERIES K721 A2DTD 12/01/2015 3.090% 08/01/20223137BM6P6136,817.07 AA+ Aaa 4/4/2018 4/9/2018 137,982.14 2.88 352.31 138,003.59FHMS KP05 ADTD 12/01/2018 3.203% 07/01/20233137FKK39 5,723.58 AA+ Aaa 12/7/2018 12/17/2018 5,723.56 3.20 15.28 5,869.35FHMS KJ27 A1DTD 11/01/2019 2.092% 07/01/20243137FQ3V334,007.57 AA+ Aaa 11/20/2019 11/26/2019 34,006.75 2.09 59.29 34,415.18FHMS K043 A2DTD 03/01/2015 3.062% 12/01/20243137BGK24250,000.00 AA+ Aaa 3/19/2020 3/25/2020 262,382.81 1.95 637.92 262,567.76486,405.69500,462.481,218.94 501,232.45Security Type Sub-Total2.37ABSHAROT 2018-4 A3DTD 11/28/2018 3.160% 01/15/202343815AAC6 35,363.87 AAA Aaa 11/20/2018 11/28/2018 35,358.58 3.16 49.67 35,466.84VALET 2018-2 A3DTD 11/21/2018 3.250% 04/20/202392869BAD4 24,976.20 AAA Aaa 11/15/2018 11/21/2018 24,975.15 3.25 24.80 25,033.82GMCAR 2018-3 A3DTD 07/18/2018 3.020% 05/16/202336255JAD620,344.48 AAA NR 7/11/2018 7/18/2018 20,339.74 3.03 25.60 20,381.75CARMAX AUTO OWNER TRUSTDTD 07/25/2018 3.130% 06/15/202314313FAD1 33,211.46 AAA NR 7/18/2018 7/25/2018 33,206.94 3.13 46.20 33,302.61CARMAX AUTO OWNER TRUSTDTD 10/24/2018 3.360% 09/15/202314315EAC4 84,076.46 AAA NR 10/17/2018 10/24/2018 84,075.69 3.36 125.55 84,681.8726 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIP ParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueABSGMCAR 2019-1 A3DTD 01/16/2019 2.970% 11/16/202336256XAD443,947.57 NR Aaa 1/8/2019 1/16/2019 43,942.71 2.97 54.39 44,131.87COMET 2019-A2 A2DTD 09/05/2019 1.720% 08/15/202414041NFU0800,000.00 AAA NR 8/28/2019 9/5/2019 799,798.56 1.73 611.56 806,078.72GMALT 2021-1 A4DTD 02/24/2021 0.330% 02/20/202536261RAD0 85,000.00 NR Aaa 2/17/2021 2/24/2021 84,987.17 0.338.57 84,464.60GMALT 2021-2 A4DTD 05/26/2021 0.410% 05/20/2025380144AD735,000.00 AAA NR 5/18/2021 5/26/2021 34,997.05 0.414.38 34,622.89HART 2021-A A3DTD 04/28/2021 0.380% 09/15/202544933LAC775,000.00 AAA NR 4/20/2021 4/28/2021 74,992.11 0.38 12.67 74,264.58NAROT 2021-A A3DTD 06/23/2021 0.330% 10/15/202565480BAC1 295,000.00 AAA Aaa 6/15/2021 6/23/2021 294,995.01 0.33 43.27 291,872.35TAOT 2021-B A3DTD 06/14/2021 0.260% 11/17/202589190GAC1 325,000.00 AAA NR 6/8/2021 6/14/2021 324,965.00 0.26 37.56 321,885.04HAROT 2021-4 A3DTD 11/24/2021 0.880% 01/21/202643815GAC3 100,000.00 NR Aaa 11/16/2021 11/24/2021 99,978.92 0.89 24.44 99,787.43CARMX 2021-2 A3DTD 04/21/2021 0.520% 02/17/202614314QAC8 110,000.00 AAA NR 4/13/2021 4/21/2021 109,976.30 0.52 25.42 109,064.38HART 2021-C A3DTD 11/17/2021 0.740% 05/15/202644935FAD6 80,000.00 AAA NR 11/9/2021 11/17/2021 79,982.14 0.75 26.31 79,469.60DCENT 2021-A1 A1DTD 09/27/2021 0.580% 09/15/2026254683CP8195,000.00 AAA Aaa 9/20/2021 9/27/2021 194,958.25 0.58 50.27 192,002.99GMCAR 2021-4 A3DTD 10/21/2021 0.680% 09/16/2026362554AC185,000.00 AAA Aaa 10/13/2021 10/21/2021 84,997.83 0.68 24.08 84,348.592,426,920.042,426,527.151,194.74 2,420,859.93Security Type Sub-Total1.1531,887,502.4132,236,606.85 61,518.29 32,014,627.58Managed Account Sub TotalSecurities Sub TotalAccrued Interest$31,887,502.41$32,236,606.85 $61,518.29 $32,014,627.58$61,518.29Total Investments$32,076,145.8727 © PFM Asset Management LLC pfm.com|Portfolio Transactions © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionBUY10/13/2021 10/21/2021 85,000.00 362554AC1 GMCAR 2021-4 A30.68% 9/16/2026 84,997.83 0.68%11/2/2021 11/4/2021 650,000.00 91282CBC4 US TREASURY NOTES0.37% 12/31/2025 633,093.15 1.05%11/9/2021 11/17/2021 80,000.00 44935FAD6 HART 2021-C A30.74% 5/15/2026 79,982.14 0.75%11/16/2021 11/24/2021 100,000.00 43815GAC3 HAROT 2021-4 A30.88% 1/21/2026 99,978.92 0.89%12/1/2021 12/6/2021 225,000.00 06051GKE8 BANK OF AMERICA CORP NOTES (CALLABLE)1.53% 12/6/2025 225,000.00 1.53%12/2/2021 12/6/2021 400,000.00 91282CBC4 US TREASURY NOTES0.37% 12/31/2025 388,616.85 1.13%Total BUY1,540,000.001,511,668.890.00INTEREST10/1/2021 10/25/2021 16,008.67 3137FKK39 FHMS KP05 A3.20% 7/1/2023 42.7310/1/2021 10/1/2021 175,000.00 46647PBB1 JPMORGAN CHASE & CO BONDS3.20% 4/1/20232,806.1310/1/2021 10/25/2021 75,667.00 3137FQ3V3 FHMS KJ27 A12.09% 7/1/2024 1,205.9610/1/2021 10/25/2021 219,026.03 3137BM6P6 FHLMC SERIES K721 A23.09% 8/1/2022563.9910/1/2021 10/25/2021 250,000.00 3137BGK24 FHMS K043 A23.06% 12/1/2024 637.9310/14/2021 10/14/2021 350,000.00 3130AJHU6 FEDERAL HOME LOAN BANK NOTES0.50% 4/14/2025875.0010/15/2021 10/15/2021 110,000.00 14314QAC8 CARMX 2021-2 A30.52% 2/17/202647.6710/15/2021 10/15/2021 75,000.00 44933LAC7 HART 2021-A A30.38% 9/15/202523.7510/15/2021 10/15/2021 79,086.92 43815AAC6 HAROT 2018-4 A33.16% 1/15/2023208.2628 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionINTEREST10/15/2021 10/15/2021 195,000.00 254683CP8 DCENT 2021-A1 A10.58% 9/15/202656.5510/15/2021 10/15/2021 325,000.00 89190GAC1 TAOT 2021-B A30.26% 11/17/2025 70.4210/15/2021 10/15/2021 295,000.00 65480BAC1 NAROT 2021-A A30.33% 10/15/2025 81.1310/15/2021 10/15/2021 74,395.00 14313FAD1 CARMAX AUTO OWNER TRUST3.13% 6/15/2023194.0510/15/2021 10/15/2021 129,689.65 14315EAC4 CARMAX AUTO OWNER TRUST3.36% 9/15/2023363.1310/15/2021 10/15/2021 800,000.00 14041NFU0 COMET 2019-A2 A21.72% 8/15/2024 1,146.6710/16/2021 10/16/2021 49,300.09 36255JAD6 GMCAR 2018-3 A33.02% 5/16/2023124.0710/16/2021 10/16/2021 73,085.00 36256XAD4 GMCAR 2019-1 A32.97% 11/16/2023180.8910/16/2021 10/16/2021 325,000.00 3137EAEY1 FREDDIE MAC NOTES0.12% 10/16/2023203.1310/20/2021 10/20/2021 61,204.94 92869BAD4 VALET 2018-2 A33.25% 4/20/2023165.7610/20/2021 10/20/2021 35,000.00 380144AD7 GMALT 2021-2 A40.41% 5/20/2025 11.9610/20/2021 10/20/2021 245,000.00 459058JV6 INTL BK OF RECON AND DEV NOTE0.12% 4/20/2023154.3510/20/2021 10/20/2021 85,000.00 36261RAD0 GMALT 2021-1 A40.33% 2/20/2025 23.3810/22/2021 10/22/2021 350,000.00 3135G03U5 FANNIE MAE NOTES0.62% 4/22/2025 1,093.7510/24/2021 10/24/2021 200,000.00 06406RAL1 BANK OF NY MELLON CORP2.10% 10/24/2024 2,100.0010/26/2021 10/26/2021 210,000.00 06406RAS6 BANK OF NY MELLON CORP NOTES (CALLABLE) 0.50% 4/26/2024525.0010/27/2021 10/27/2021 225,000.00 172967JP7 CITIGROUP INC CORP NOTES3.30% 4/27/2025 3,712.5029 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionINTEREST10/29/2021 10/29/2021 400,000.00 61746BDQ6 MORGAN STANLEY CORP NOTES3.87% 4/29/2024 7,750.0010/31/2021 10/31/2021 2,475,000.00 912828T91 US TREASURY NOTES1.62% 10/31/2023 20,109.3811/1/2021 11/25/2021 250,000.00 3137BGK24 FHMS K043 A23.06% 12/1/2024 637.9311/1/2021 11/25/2021 213,346.51 3137BM6P6 FHLMC SERIES K721 A23.09% 8/1/2022549.3711/1/2021 11/25/2021 34,237.18 3137FQ3V3 FHMS KJ27 A12.09% 7/1/2024 59.6911/1/2021 11/1/2021 85,000.00 13077DQD7 CA ST UNIV TXBL REV BONDS0.86% 11/1/2025187.2511/1/2021 11/25/2021 5,753.39 3137FKK39 FHMS KP05 A3.20% 7/1/2023 15.3611/6/2021 11/6/2021 350,000.00 3137EAEZ8 FREDDIE MAC NOTES0.25% 11/6/2023 437.5011/7/2021 11/7/2021 650,000.00 3135G06G3 FANNIE MAE NOTES0.50% 11/7/2025 1,625.0011/11/2021 11/11/2021 550,000.00 037833DT4 APPLE INC (CALLABLE) CORP NOTES1.12% 5/11/2025 3,093.7511/15/2021 11/15/2021 110,000.00 14314QAC8 CARMX 2021-2 A30.52% 2/17/202647.6711/15/2021 11/15/2021 60,449.59 14313FAD1 CARMAX AUTO OWNER TRUST3.13% 6/15/2023157.6711/15/2021 11/15/2021 225,000.00 91324PEC2 UNITEDHEALTH GROUP INC (CALLABLE) CORPOR 1.15% 5/15/2026 1,265.0011/15/2021 11/15/2021 85,000.00 91412HGE7 UNIV OF CAL TXBL REV BONDS0.88% 5/15/2025375.2811/15/2021 11/15/2021 195,000.00 254683CP8 DCENT 2021-A1 A10.58% 9/15/202694.2511/15/2021 11/15/2021 75,000.00 44933LAC7 HART 2021-A A30.38% 9/15/202523.7511/15/2021 11/15/2021 114,200.18 14315EAC4 CARMAX AUTO OWNER TRUST3.36% 9/15/2023319.7630 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionINTEREST11/15/2021 11/15/2021 295,000.00 65480BAC1 NAROT 2021-A A30.33% 10/15/2025 81.1311/15/2021 11/15/2021 800,000.00 14041NFU0 COMET 2019-A2 A21.72% 8/15/2024 1,146.6711/15/2021 11/15/2021 325,000.00 89190GAC1 TAOT 2021-B A30.26% 11/17/2025 70.4211/15/2021 11/15/2021 225,000.00 369550BG2 GENERAL DYNAMICS CORP (CALLABLE) CORP NO 3.50% 5/15/2025 3,937.5011/15/2021 11/15/2021 63,851.33 43815AAC6 HAROT 2018-4 A33.16% 1/15/2023168.1411/16/2021 11/16/2021 39,311.09 36255JAD6 GMCAR 2018-3 A33.02% 5/16/202398.9311/16/2021 11/16/2021 63,421.25 36256XAD4 GMCAR 2019-1 A32.97% 11/16/2023156.9711/16/2021 11/16/2021 85,000.00 362554AC1 GMCAR 2021-4 A30.68% 9/16/202640.1411/20/2021 11/20/2021 85,000.00 36261RAD0 GMALT 2021-1 A40.33% 2/20/2025 23.3811/20/2021 11/20/2021 48,593.81 92869BAD4 VALET 2018-2 A33.25% 4/20/2023131.6111/20/2021 11/20/2021 35,000.00 380144AD7 GMALT 2021-2 A40.41% 5/20/2025 11.9611/24/2021 11/24/2021 500,000.00 459058JM6 INTL BK RECON & DEVELOP NOTES0.25% 11/24/2023625.0011/27/2021 11/27/2021 325,000.00 3135G06H1 FANNIE MAE NOTES0.25% 11/27/2023 406.2512/1/2021 12/1/2021 75,000.00 20772KKK4 CT ST T/E GO BONDS2.00% 6/1/2025 750.0012/1/2021 12/25/2021 212,973.27 3137BM6P6 FHLMC SERIES K721 A23.09% 8/1/2022548.4012/1/2021 12/25/2021 5,739.02 3137FKK39 FHMS KP05 A3.20% 7/1/2023 15.3212/1/2021 12/1/2021 315,000.00 46647PCH7 JPMORGAN CHASE & CO CORPORATE NOTES 0.82% 6/1/20251,297.8031 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionINTEREST12/1/2021 12/25/2021 34,129.25 3137FQ3V3 FHMS KJ27 A12.09% 7/1/2024 59.5012/1/2021 12/25/2021 250,000.00 3137BGK24 FHMS K043 A23.06% 12/1/2024 637.9212/3/2021 12/3/2021 475,000.00 023135BQ8 AMAZON.COM INC CORPORATE NOTES0.80% 6/3/20251,900.0012/4/2021 12/4/2021 300,000.00 3137EAFA2 FREDDIE MAC NOTES0.25% 12/4/2023 375.0012/15/2021 12/15/2021 99,129.90 14315EAC4 CARMAX AUTO OWNER TRUST3.36% 9/15/2023277.5612/15/2021 12/15/2021 75,000.00 44933LAC7 HART 2021-A A30.38% 9/15/202523.7512/15/2021 12/15/2021 195,000.00 254683CP8 DCENT 2021-A1 A10.58% 9/15/202694.2512/15/2021 12/15/2021 80,000.00 44935FAD6 HART 2021-C A30.74% 5/15/2026 46.0412/15/2021 12/15/2021 800,000.00 14041NFU0 COMET 2019-A2 A21.72% 8/15/2024 1,146.6712/15/2021 12/15/2021 46,683.93 14313FAD1 CARMAX AUTO OWNER TRUST3.13% 6/15/2023121.7712/15/2021 12/15/2021 49,258.57 43815AAC6 HAROT 2018-4 A33.16% 1/15/2023129.7112/15/2021 12/15/2021 110,000.00 14314QAC8 CARMX 2021-2 A30.52% 2/17/202647.6712/15/2021 12/15/2021 295,000.00 65480BAC1 NAROT 2021-A A30.33% 10/15/2025 81.1312/15/2021 12/15/2021 325,000.00 89190GAC1 TAOT 2021-B A30.26% 11/17/2025 70.4212/16/2021 12/16/2021 53,784.98 36256XAD4 GMCAR 2019-1 A32.97% 11/16/2023133.1212/16/2021 12/16/2021 85,000.00 362554AC1 GMCAR 2021-4 A30.68% 9/16/202648.1712/16/2021 12/16/2021 29,549.42 36255JAD6 GMCAR 2018-3 A33.02% 5/16/202374.3732 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionINTEREST12/18/2021 12/18/2021 145,000.00 89236TJK2 TOYOTA MOTOR CREDIT CORP CORPORATE NOTES 1.12% 6/18/2026815.6312/20/2021 12/20/2021 85,000.00 36261RAD0 GMALT 2021-1 A40.33% 2/20/2025 23.3812/20/2021 12/20/2021 36,966.30 92869BAD4 VALET 2018-2 A33.25% 4/20/2023100.1212/20/2021 12/20/2021 35,000.00 380144AD7 GMALT 2021-2 A40.41% 5/20/2025 11.9612/21/2021 12/21/2021 100,000.00 43815GAC3 HAROT 2021-4 A30.88% 1/21/2026 66.0012/27/2021 12/29/2021 400,000.00 02665WCZ2 AMERICAN HONDA FINANCE CORP NOTE2.40% 6/27/2024 4,800.0012/31/2021 12/31/2021 3,700,000.00 912828XX3 US TREASURY NOTES2.00% 6/30/2024 37,000.0012/31/2021 12/31/2021 700,000.00 912828ZW3 US TREASURY NOTES0.25% 6/30/2025875.0012/31/2021 12/31/2021 2,825,000.00 91282CBC4 US TREASURY NOTES0.37% 12/31/2025 5,296.8812/31/2021 12/31/2021 2,500,000.00 912828YY0 US TREASURY NOTES1.75% 12/31/2024 21,875.00Total INTEREST28,233,842.27139,007.410.00MATURITY11/1/2021 11/1/2021 950,000.00 63873JY12 NATIXIS NY BRANCH COMM PAPER0.00% 11/1/2021 950,000.0011/1/2021 11/1/2021 350,000.00 86563GY14 SUMITOMO MITSUI TRUST NY COMM PAPER0.00% 11/1/2021 350,000.00Total MATURITY1,300,000.001,300,000.000.0033 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionPAYDOWNS10/1/2021 10/25/2021864.27 3137BM6P6 FHLMC SERIES K721 A23.09% 8/1/2022864.2710/1/2021 10/25/2021 10,255.28 3137FKK39 FHMS KP05 A3.20% 7/1/2023 10,255.2810/1/2021 10/25/2021 3,950.97 3137BM6P6 FHLMC SERIES K721 A23.09% 8/1/20223,950.97-0.0110/1/2021 10/25/2021 41,429.82 3137FQ3V3 FHMS KJ27 A12.09% 7/1/2024 41,429.8210/1/2021 10/25/2021864.27 3137BM6P6 FHLMC SERIES K721 A23.09% 8/1/2022864.2810/15/2021 10/15/2021 15,489.47 14315EAC4 CARMAX AUTO OWNER TRUST3.36% 9/15/2023 15,489.4710/15/2021 10/15/2021 13,945.41 14313FAD1 CARMAX AUTO OWNER TRUST3.13% 6/15/2023 13,945.4110/15/2021 10/15/2021 15,235.59 43815AAC6 HAROT 2018-4 A33.16% 1/15/2023 15,235.5910/16/2021 10/16/2021 9,989.00 36255JAD6 GMCAR 2018-3 A33.02% 5/16/2023 9,989.0010/16/2021 10/16/2021 9,663.75 36256XAD4 GMCAR 2019-1 A32.97% 11/16/2023 9,663.7510/20/2021 10/20/2021 12,611.13 92869BAD4 VALET 2018-2 A33.25% 4/20/2023 12,611.1311/1/2021 11/25/2021107.93 3137FQ3V3 FHMS KJ27 A12.09% 7/1/2024107.9311/1/2021 11/25/202156.80 3137BM6P6 FHLMC SERIES K721 A23.09% 8/1/202256.8011/1/2021 11/25/2021259.65 3137BM6P6 FHLMC SERIES K721 A23.09% 8/1/2022259.640.0111/1/2021 11/25/202156.80 3137BM6P6 FHLMC SERIES K721 A23.09% 8/1/202256.8011/1/2021 11/25/202114.37 3137FKK39 FHMS KP05 A3.20% 7/1/202314.3711/15/2021 11/15/2021 15,070.28 14315EAC4 CARMAX AUTO OWNER TRUST3.36% 9/15/2023 15,070.2834 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionPAYDOWNS11/15/2021 11/15/2021 14,592.76 43815AAC6 HAROT 2018-4 A33.16% 1/15/2023 14,592.7611/15/2021 11/15/2021 13,765.66 14313FAD1 CARMAX AUTO OWNER TRUST3.13% 6/15/2023 13,765.6611/16/2021 11/16/2021 9,761.67 36255JAD6 GMCAR 2018-3 A33.02% 5/16/2023 9,761.6711/16/2021 11/16/2021 9,636.27 36256XAD4 GMCAR 2019-1 A32.97% 11/16/2023 9,636.2711/20/2021 11/20/2021 11,627.51 92869BAD4 VALET 2018-2 A33.25% 4/20/2023 11,627.5112/1/2021 12/25/202115.44 3137FKK39 FHMS KP05 A3.20% 7/1/202315.4412/1/2021 12/25/2021121.68 3137FQ3V3 FHMS KJ27 A12.09% 7/1/2024121.6812/1/2021 12/25/2021 11,338.25 3137BM6P6 FHLMC SERIES K721 A23.09% 8/1/2022 11,338.2512/1/2021 12/25/2021 2,480.24 3137BM6P6 FHLMC SERIES K721 A23.09% 8/1/20222,480.2412/1/2021 12/25/2021 2,480.24 3137BM6P6 FHLMC SERIES K721 A23.09% 8/1/20222,480.2412/15/2021 12/15/2021 13,472.47 14313FAD1 CARMAX AUTO OWNER TRUST3.13% 6/15/2023 13,472.4712/15/2021 12/15/2021 13,894.70 43815AAC6 HAROT 2018-4 A33.16% 1/15/2023 13,894.7012/15/2021 12/15/2021 15,053.44 14315EAC4 CARMAX AUTO OWNER TRUST3.36% 9/15/2023 15,053.4412/16/2021 12/16/2021 9,837.41 36256XAD4 GMCAR 2019-1 A32.97% 11/16/2023 9,837.4112/16/2021 12/16/2021 9,204.94 36255JAD6 GMCAR 2018-3 A33.02% 5/16/2023 9,204.9435 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionPAYDOWNS12/20/2021 12/20/2021 11,990.10 92869BAD4 VALET 2018-2 A33.25% 4/20/2023 11,990.10Total PAYDOWNS299,137.57299,137.570.0036 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Appendix|Important DisclosuresThis material is based on information obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management LLC cannotguarantee its accuracy, completeness or suitability. This material is for general information purposes only and is not intended to provide specific advice or a specificrecommendation. 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 thepresentation. 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 inassumptions may have a material effect on results. Past performance does not necessarily reflect and is not a guaranty of future results. The information contained inthis presentation is not an offer to purchase or sell any securities.This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buyor sell any fund or other security. Investors should consider the Trust's investment objectives, risks, charges, and expenses before investing in the Trust. This and otherinformation about the Trust is available in the Trust's current Information Sheet, which should be read carefully before investing. A copy of the Trust's informationStatement may be available by calling 1-800-729-7665 or is available on the Trust's website at www.camponline.com. While the Trust seeks to maintain a stable netasset value of $1.00 per share, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal DepositInsurance Corporation or any other government agency. Shares of the Trust are distributed by PFM Fund Distributors, Inc., member Financial Industry RegulatoryAuthority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is an affiliate of PFM AssetManagement LLC.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, orTelerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimatedmarket value.In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthlybalances, 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 showngross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Pastperformance 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.37 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Appendix|GlossaryAccrued 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 purchasedate 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 amortizedon a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans,leases, credit card balances, and receivables.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 Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector addedor subtracted from the overall portfolio performance.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 compoundingon 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 themortgage-backed security.38 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended December 31, 2021Appendix|GlossaryRepurchase 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 andmaturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whosedecisions are binding on its members.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 apercentage 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 periodfrom 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 timeperiod remaining until maturity, stated as a percentage on an annualized basis.39