HomeMy WebLinkAboutItem No. 03 Investment Report May 2019City Council Agenda Report
City of Lake Elsinore 130 South Main Street
Lake Elsinore, CA 92530
www.lake-elsinore.org
File Number: ID# 19-213
Agenda Date: 6/25/2019 Status: PassedVersion: 1
File Type: Council InvestmentsIn Control: City Council / Successor Agency
Agenda Number: 3)
CC Investment Report for May 2019
Receive and file.
Page 1 City of Lake Elsinore Printed on 6/2/2023
REPORT TO CITY COUNCIL
To:Honorable Mayor and Members of the City Council
From:Grant Yates, City Manager
Prepared by:Andrew Zavala, Accountant I
Approved by:Jason Simpson, Assistant City Manager
Date:June 25, 2019
Subject:Investment Report for May 2019
Recommendation
Receive and file the Investment Report for May 2019.
Background and Discussion
The Investment Report is a listing of all funds invested for the City as of the date shown on the
report.Additionally, the Review of the Investment Performance for the quarter ended March 31,
2019 is included.
Fiscal Impact
No fiscal impact.
Exhibits
A: Investment Report for May 2019
B: Investment Performance Review for the Quarter Ended March 31, 2019
CITY OF LAKE ELSINORE
INVESTMENT REPORT
BANK DEPOSITS OUTSTANDING BOOK
CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE
Bank Accounts:
General Checking Account 3,293,083$ 138,160$ (815,895)$ 2,615,348$
Cash On Hand:
Cashier Drawers #1 & #2 - - - 300
City of Lake Elsinore Petty Cash Fund - - - 1,000
Total Cash Accounts 3,293,083 138,160 (815,895) 2,616,648
INVESTMENTS
Local Agency Investment Fund 27,455,360 - - 27,455,360
CAMP Investments:
CAMP Pool Account 94,427 - - 94,427
U.S. Treasury Bond / Note 19,376,596 - - 19,376,596
Supra-National Agency Bond / Note 1,591,950 - - 1,591,950
Federal Agency Collateralized Mortgage Obligation 632,707 - - 632,707
Federal Agency Bond / Note 1,224,056 - - 1,224,056
Corporate Notes 9,705,342 - - 9,705,342
Negotiable Certificate of Deposit 4,339,856 - - 4,339,856
Asset-Backed Security / Collaterized Mortgage 2,544,742 - - 2,544,742
Sub-total Investments 66,965,036 - - 66,965,036
Market Value Adjustment:
Unrealized Gain/(Loss) at 03-31-18 230,361 - - 230,361
Total Investments 67,195,397 - - 67,195,397
Total Pooled Cash and Investments 70,488,479$ 138,160$ (815,895)$ 69,812,044$
TOTAL POOLED CASH AND INVESTMENTS 69,812,044$
I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as
approved by the City Council on June 12, 2018. 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 June 11, 2019
Assistant 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 MAY 31, 2019
FUND NO FUND NAME AMOUNT
100 General 8,586,207$
106 Affordable Housing In Lieu 1,495,645
107 Developer Agreement Revenue 120,480
108 Misc. Grant 896,797
110 State Gas Tax 1,022,087
112 Measure A 1,878,516
114 SB1186 CASP Education Program 15,315
115 Traffic Safety 195,098
116 City Hall-Public Works DIF 58,454
117 Community Center DIF 28,028
118 Lake Side Facility DIF 59,263
119 Animal Shelter DIF 26,324
121 T.R.I.P.-2014A 142
130 Lighting & Landscape Maintenance Fund - City-wide 275,535
135 Lighting & Landscape Maintenance - Dist. No. 1 845,461
140 Geothermal 18,886
155 CSA152 -- N.P.D.E.S.133,013
160 PEG Grant 14,948
203 E.L.S.P. - S.T.I.F.2,003,418
205 Traffic Impact Fee 4,839,790
211 Storm Drain C.I.P. 408,576
220 Street Lighting C.I.P.104,057
221 Quimby Park C.I.P.207,421
231 Library C.I.P. 1,778,549
232 City Fire Protection 120,396
254 Railroad Canyon Improvement Area 89-1 126,253
300 Insurance Service 897,825
305 Information Systems Service 325,761
310 Support Service 17,024
320 Facilities Service 617,997
331 CFD 2006-1CC Summerly Improvement Area CC 131,667
332 CFD 2006-1 Improvement Area B, Summerly 142,155
334 CFD 2015-5 Trieste - Far West Industries 150,436
335 CFD 2003-2E Canyon Hills Improvement Area E 120,082
336 CFD 2006-1FF Summerly Improvement Area FF 161,383
337 CFD 2016-2 Canyon Hills 611,932
338 CFD 2006-1 IA-JJ Summerly Improvement Area 131,266
340 CFD 2006-1 IA-EE Summerly Improvement Area 176,217
345 CFD 2003-2 Improvement Area D, Canyon Hills 1,316,816
346 CFD 2014-1 Southshore 65,249
347 CFD 2006-1 Improvement Area A, Summerly 174,783
350 CFD 98-1 Summerhill 842,492
351 CFD 2006-1 IA-II Summerly Improvement 14,911
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 MAY 31, 2019
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 MAY 31, 2019
354 CFD 90-2 Tuscany Hills 1,478,017
357 CFD 2003-2 Canyon Hills Improvement Area 658,031
366 CFD 2005-6 City Center Townhomes 165,799
368 CFD 2006-2 Viscaya 311,533
369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 1,084,224
371 CFD 2005-1 Serenity 478,382
372 CFD 2005-2 Alberhill Ranch Improvement Area 1,005,731
374 CFD 2005-4 Lakeview Villas 8,512
375 CFD 2006-4 Clurman 12,921
376 CFD 2006-3 La Strada 6,875
377 CFD 2006-6 Tessara 8,632
378 CFD 2006-8 Running Deer Estates 9,805
384 CFD 2003-2 Area B Canyon Hills Improvement Area 1,306,525
385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 1,194,140
386 CFD 2007-4 Mekenna Court 110,343
387 CFD 2007-5 Red Kite 124,903
388 CFD 2007-6 Holiday Inn Express 15,651
389 CFD 88-3 (2008A) West Lake Elsinore Series A 2,273,803
390 CFD 2003-2 Area C Canyon Hills Improvement Area 467,312
392 CFD 95-1 City Center 146,276
393 AD 93-1 Cottonwood Hills 1,134,827
394 CFD 2005-5 (2012A) Wasson Canyon 192,477
395 CFD 2018-1 Wasson Canyon II Improvement Area 543
396 CFD 2018-2 Nichols Ranch Improvement Area 36,639
397 CFD 2018-3 Village at Lakeshore 22,606
500 Capital Improvement Plan 11,662,791
510 Successor To RDA Area I, II, & III 4,667,479
540 Successor To RDA Diamond Stadium 1,876,469
603 Endowment Trust - Carl Graves 48,905
604 Endowment Trust - Korn Memorial 32,255
605 Public Improvement Trust 102,217
606 Mobile Source Air Polution Reduction 303,335
608 Trust Deposit & Pre Paid Expense 2,605,889
617 Successor Agency Housing 3,570,313
620 Cost Recovery System 1,174,982
631 Lake Destratification Equipment Replacement 356,246
Total Pooled Cash & Investments 69,812,044$
DIVERSIFICATION MAXIMUM
TYPES OF SECURITIES PERCENTAGE PERCENTAGE
U.S. Treasury Bills 0.00%Unlimited
U.S. Treasury Bond / Note 28.94%Unlimited
Current Balance 19,376,596$
Supra-National Agency Bond / Note 2.38%30%
Current Balance 1,591,950$
Municipal Bond / Note 0.00%Unlimited
Current Balance -$
Federal Agency Collaterized Mortgage Obligation 0.94%40.00%
Current Balance 632,707$
Federal Agency Bond / Note 1.83%*Unlimited
Current Balance 1,224,056$
Negotiable Certificates of Deposit 6.48%30.00%
Current Balance 4,339,856$
Corporate Note 14.49%30.00%
Current Balance 9,705,342$
Asset-Backed Security / Collaterized Mortgage 20%
Current Balance 4%2,544,742$
Repurchase Agreements 0.00%Unlimited
Reverse Repurchase Agreements 0.00%10.00%
LAIF (Local Agency Investment Fund)41.00%*$65 Million
Current Balance 27,455,360$
CAMP - Pooled Sweep Account 0.14%Unlimited
Current Balance 94,427$
TOTAL 100.00%66,965,036$
Note:
*No more than 40% in any one federal agency. See CAMP Portfolio Statement for listing of agencies.
*Investment in LAIF may not exceed $65 million in each agency.
FOR THE MONTH ENDING MAY 31, 2019
SUMMARY OF POLICY LIMITATIONS
C I T Y O F L A K E E L S I N O R E
Local Agency Investment Fund
Yield Purchase Date Maturity Rate
2.449%Daily 24-Hour
Investment Beginning Balance Net Increase/(Decrease)Ending Balance
Total Investments Held with
Local Agency Investment Fund:18,455,360$ 9,000,000$ 27,455,360$
Note:
Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit
shall be maintained.
LAIF accounts are subject to a $65 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 MAY 31, 2019
CALIFORNIA STATE TREASURER
FIONA MA, CPA
05/11/19 2.45 2.45 180
05/12/19 2.45 2.45 180
05/13/19 2.45 2.45 177
05/14/19 2.45 2.45 176
05/15/19 2.45 2.45 178
05/16/19 2.45 2.45 179
05/17/19 2.45 2.45 179
05/18/19 2.45 2.45 179
05/19/19 2.45 2.45 179
05/20/19 2.45 2.45 176
05/21/19 2.45 2.45 175
05/22/19 2.45 2.45 174
05/23/19 2.45 2.45 174 May 2019 2.449
05/24/19 2.45 2.45 176 Apr 2019 2.445
05/25/19 2.45 2.45 176 Mar 2019 2.436
05/26/19 2.45 2.45 176
05/27/19 2.45 2.45 176
05/28/19 2.45 2.45 172
05/29/19 2.45 2.45 174
05/30/19 2.45 2.45 174
05/31/19 2.45 2.45 180
06/01/19 2.45 2.45 180
06/02/19 2.45 2.45 180
06/03/19 2.45 2.45 177
06/04/19 2.45 2.45 177
06/05/19 2.45 2.45 176
06/06/19 2.45 2.45 176
06/07/19 2.45 2.45 175
06/08/19 2.45 2.45 175
06/09/19 2.45 2.45 175
06/10/19 2.45 2.45 172
Quarter to Date:
Average Life:
View Prior Month Daily Rates
PMIA Average Monthly
Effective Yields
2.39%
*Daily yield does not reflect capital gains or losses
179
PMIA Performance Report LAIF Performance Report
Date Daily Yield*
Quarter to
Date Yield
Average
Maturity
(in days)Apportionment Rate:2.55
Quarter Ending 03/31/19
0.00006976322349099
1.000146954
Earnings Ratio:
Fair Value Factor:
Daily:2.44%
Treasuries
50.24%
Agencies
20.77%
Certificates of
Deposit/Bank
Notes
17.41%
Time Deposits
4.99%
Commercial
Paper
5.76%
Loans
0.81%
Pooled Money Investment Account
Portfolio Composition
05/31/19
$95.3 billion
Percentages may not total 100% due to rounding
Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to
Government Code 20825 (c)(1)
Based on data available as of 06/10/2019
CAMP
Investment Portfolio
For the Month Ending May 31, 2019Account Statement - Transaction Summary
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
523,688.14
1,078,772.71
(1,508,033.59)
0.00
$94,427.26
CAMP Pool
Unsettled Trades 0.00
147.51 Cash Dividends and Income
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
39,144,825.33
1,488,304.69
(993,850.19)
302,715.20
$39,941,995.03
CAMP Managed Account
Unsettled Trades 0.00
75,420.44 Cash Dividends and Income
May 31, 2019April 30, 2019
Asset Summary
CAMP Pool 94,427.26 523,688.14
CAMP Managed Account 39,941,995.03 39,144,825.33
$40,036,422.29 $39,668,513.47 Total
Asset Allocation
0.24%
CAMP Pool
99.76%
CAMP Managed
Account
Page 1
For the Month Ending May 31, 2019Managed 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
$523,688.14
1,078,772.71
(1,508,033.59)
$94,427.26
147.51
$39,144,825.33
(4,201.75)
(989,648.44)
1,488,304.69
0.00
302,715.20
$39,941,995.03
$39,668,513.47
$40,036,422.29
78,718.55
(10,484.38)
7,186.27
$75,420.44
0.00
989,801.29
78,565.70
4,201.75
(1,498,789.07)
426,220.33
0.00
Managed Account Total
39,438,744.09 39,533,171.35
228,552.00
989,801.29
4,201.75
78,565.70
(1,498,789.07)
(38,932,620.78)
(221,031.28)
0.00
228,552.00
2,497,834.88
4,201.75
78,565.70
(2,577,561.78)
(39,456,308.92)
(221,031.28)
147.51
Total Accrual Basis Earnings $87,423.70 $87,571.21
Transaction Summary - Managed AccountTransaction Summary - Money Market
___________________________________________________________________________________________________________________________________________________
Cash Balance
$0.00 Closing Cash Balance
Page 2
For the Month Ending May 31, 2019Portfolio Summary and Statistics
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Account Summary
Percent Par ValueMarket ValueDescription
U.S. Treasury Bond / Note 19,870,000.00 19,865,269.74 49.62
Supra-National Agency Bond / Note 1,595,000.00 1,604,836.48 4.01
Federal Agency Collateralized Mortgage
Obligation
626,508.98 637,922.38 1.59
Federal Agency Bond / Note 1,230,000.00 1,210,039.64 3.02
Corporate Note 9,655,000.00 9,686,764.79 24.19
Certificate of Deposit 4,340,000.00 4,348,057.38 10.86
Asset-Backed Security 2,545,000.00 2,589,104.62 6.47
Managed Account Sub-Total 39,861,508.9839,941,995.03 99.76%
Accrued Interest 228,552.00
Total Portfolio 39,861,508.9840,170,547.03
CAMP Pool 94,427.26 94,427.26 0.24
Total Investments 39,955,936.2440,264,974.29 100.00%
Unsettled Trades 0.00 0.00
Sector Allocation
6.47%
ABS
10.86%
Cert of Deposit
24.19%
Corporate Note
1.59%
Fed Agency CMO
3.02%
Fed Agy Bond /
Note
0.24%
Mny Mkt Fund
4.01%
Supra-National
Agency Bond / Note
49.62%
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
0.65%
8.66%
22.03%
19.20%
33.10%
16.36%
0.00%
Maturity Distribution Characteristics
Yield to Maturity at Cost
Yield to Maturity at Market
Duration to Worst
Weighted Average Days to Maturity
2.50
1007
2.56%
2.16%
Page 3
For the Month Ending May 31, 2019Managed Account Issuer Summary
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Credit Quality (S&P Ratings)
8.19%
A
4.94%
A+
6.89%
A-
0.75%
A-1
1.94%
A-1+
0.93%
AA
54.72%
AA+
6.90%
AA-
10.79%
AAA
0.24%
AAAm
3.02%
BBB+
0.69%
NR
Issuer Summary
Percentof HoldingsIssuer
Market Value
438,403.76 1.10 AMERICAN EXPRESS CO
383,907.38 0.96 AMERICAN HONDA FINANCE
199,108.40 0.50 APPLE INC
400,358.08 1.00 BANK OF AMERICA CO
672,757.72 1.68 BANK OF MONTREAL
382,371.96 0.96 BANK OF NOVA SCOTIA
322,224.40 0.80 BB&T CORPORATION
305,314.62 0.76 BMW FINANCIAL SERVICES NA LLC
94,427.26 0.24 CAMP Pool
714,608.55 1.78 CARMAX AUTO OWNER TRUST
302,908.01 0.76 CATERPILLAR INC
238,696.55 0.60 CHARLES SCHWAB
554,541.71 1.39 CITIGROUP INC
351,563.93 0.88 DEERE & COMPANY
915,984.04 2.28 FANNIE MAE
516,025.65 1.29 FEDERAL HOME LOAN BANKS
415,952.33 1.04 FREDDIE MAC
253,819.50 0.63 GENERAL ELECTRIC CO
278,990.28 0.70 GM FINANCIAL AUTO LEASING TRUST
578,337.01 1.44 GM FINANCIAL SECURITIZED TERM
177,677.50 0.44 HERSHEY COMPANY
198,609.01 0.50 HOME DEPOT INC
381,263.74 0.95 HONDA AUTO RECEIVABLES
300,874.20 0.75 IBM CORP
474,819.85 1.19 INTER-AMERICAN DEVELOPMENT BANK
401,273.20 1.00 INTERNATIONAL FINANCE CORPORATION
728,743.43 1.82 INTL BANK OF RECONSTRUCTION AND DEV
682,898.18 1.71 JP MORGAN CHASE & CO
398,649.20 1.00 MICROSOFT CORP
399,008.40 1.00 MORGAN STANLEY
403,744.80 1.01 NATIONAL RURAL UTILITIES CO FINANCE CORP
776,589.53 1.94 NORDEA BANK AB
Page 4
For the Month Ending May 31, 2019Managed Account Issuer Summary
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Percentof HoldingsIssuer
Market Value
341,121.03 0.85 PACCAR FINANCIAL CORP
278,855.36 0.70 PEPSICO INC
414,273.20 1.03 PNC FINANCIAL SERVICES GROUP
684,788.85 1.71 ROYAL BANK OF CANADA
124,034.89 0.31 STATE STREET CORPORATION
794,225.60 1.97 SWEDBANK AB
400,286.00 1.00 THE BANK OF NEW YORK MELLON CORPORATION
398,140.26 0.99 THE WALT DISNEY CORPORATION
548,664.55 1.37 TOYOTA MOTOR CORP
300,855.00 0.75 UBS AG
302,319.60 0.76 UNILEVER PLC
19,865,269.74 49.61 UNITED STATES TREASURY
330,590.42 0.83 VOLKSWAGEN OF AMERICA
373,068.38 0.93 WAL-MART STORES INC
499,008.51 1.25 WELLS FARGO & COMPANY
736,468.72 1.84 WESTPAC BANKING CORP
$40,036,422.29 Total 100.00%
Page 5
For the Month Ending May 31, 2019Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/MaturityCUSIP RatingRatingDateDate Costat CostInterest Cost Value
Security Type/Description S&PMoody's OriginalYTMAccruedAmortized MarketTradeSettle
Par
U.S. Treasury Bond / Note
US TREASURY NOTES
DTD 12/31/2013 2.375% 12/31/2020
10,051.17 10,170.51 99.72 10,502.34 03/31/1603/30/16AaaAA+ 10,000.00 912828A83 1.28
US TREASURY NOTES
DTD 12/31/2015 1.750% 12/31/2020
14,933.21 15,094.62 110.22 15,268.94 05/31/1605/27/16AaaAA+ 15,000.00 912828N48 1.35
US TREASURY NOTES
DTD 05/02/2016 1.375% 04/30/2021
49,439.45 49,539.95 59.78 49,001.95 02/03/1702/01/17AaaAA+ 50,000.00 912828Q78 1.87
US TREASURY NOTES
DTD 10/31/2016 1.250% 10/31/2021
127,938.33 128,182.43 141.30 126,988.67 10/10/1710/05/17AaaAA+ 130,000.00 912828T67 1.85
US TREASURY NOTES
DTD 10/31/2016 1.250% 10/31/2021
127,938.33 128,182.43 141.30 126,988.67 10/10/1710/05/17AaaAA+ 130,000.00 912828T67 1.85
US TREASURY NOTES
DTD 10/31/2016 1.250% 10/31/2021
231,273.14 231,714.40 255.43 229,556.44 10/10/1710/05/17AaaAA+ 235,000.00 912828T67 1.85
US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
179,803.08 175,731.99 293.48 174,248.44 05/07/1805/03/18AaaAA+ 180,000.00 912828X47 2.73
US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
249,726.50 244,072.20 407.61 242,011.72 05/07/1805/03/18AaaAA+ 250,000.00 912828X47 2.73
US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
274,699.15 267,070.86 448.37 265,353.52 10/03/1810/02/18AaaAA+ 275,000.00 912828X47 2.91
US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
993,911.47 971,407.37 1,622.28 963,206.64 05/07/1805/03/18AaaAA+ 995,000.00 912828X47 2.73
US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
1,598,249.60 1,563,540.02 2,608.70 1,552,750.00 07/06/1807/03/18AaaAA+ 1,600,000.00 912828X47 2.69
US TREASURY NOTES
DTD 08/15/2012 1.625% 08/15/2022
991,172.00 965,504.07 4,758.29 958,046.88 09/07/1809/05/18AaaAA+ 1,000,000.00 912828TJ9 2.76
US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
453,322.35 438,884.28 4,015.19 436,464.84 08/03/1808/01/18AaaAA+ 450,000.00 912828N30 2.86
US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
805,906.40 776,279.88 7,138.12 772,718.75 11/06/1811/02/18AaaAA+ 800,000.00 912828N30 3.00
Page 6
For the Month Ending May 31, 2019Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/MaturityCUSIP RatingRatingDateDate Costat CostInterest Cost Value
Security Type/Description S&PMoody's OriginalYTMAccruedAmortized MarketTradeSettle
Par
U.S. Treasury Bond / Note
US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
1,208,859.60 1,173,565.03 10,707.18 1,170,281.25 12/13/1812/12/18AaaAA+ 1,200,000.00 912828N30 2.78
US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
3,198,441.03 3,128,779.87 28,329.42 3,124,646.48 01/31/1901/30/19AaaAA+ 3,175,000.00 912828N30 2.55
US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
4,382,116.05 4,293,234.85 38,813.54 4,287,298.83 01/10/1901/07/19AaaAA+ 4,350,000.00 912828N30 2.51
US TREASURY N/B NOTES
DTD 05/31/2016 1.625% 05/31/2023
1,087,410.50 1,071,139.20 48.84 1,070,050.78 04/05/1904/01/19AaaAA+ 1,100,000.00 912828R69 2.32
US TREASURY N/B NOTES
DTD 05/31/2016 1.625% 05/31/2023
1,507,546.38 1,488,999.10 67.71 1,488,304.69 05/03/1905/01/19AaaAA+ 1,525,000.00 912828R69 2.25
US TREASURY N/B NOTES
DTD 05/31/2016 1.625% 05/31/2023
2,372,532.00 2,317,605.74 106.56 2,312,906.25 03/06/1903/04/19AaaAA+ 2,400,000.00 912828R69 2.53
100,173.04 19,865,269.74 19,438,698.80 2.56 19,376,596.08 19,870,000.00 Security Type Sub-Total
Supra-National Agency Bond / Note
INTL BANK OF RECONSTRUCTION AND DEV
NOTE
DTD 09/19/2017 1.561% 09/12/2020
49,623.85 49,947.72 171.28 49,880.00 09/19/1709/12/17AaaAAA 50,000.00 45905UP32 1.64
INTL BANK OF RECONSTRUCTION AND DEV
NOTE
DTD 09/19/2017 1.561% 09/12/2020
124,059.63 124,869.30 428.19 124,700.00 09/19/1709/12/17AaaAAA 125,000.00 45905UP32 1.64
INTL BANK OF RECONSTRUCTION AND DEV
NOTE
DTD 09/19/2017 1.561% 09/12/2020
148,871.55 149,843.16 513.83 149,640.00 09/19/1709/12/17AaaAAA 150,000.00 45905UP32 1.64
INTERNATIONAL FINANCE CORPORATION
NOTE
DTD 03/16/2018 2.635% 03/09/2021
50,159.15 49,977.26 300.10 49,962.50 03/16/1803/09/18AaaAAA 50,000.00 45950VLQ7 2.66
INTERNATIONAL FINANCE CORPORATION
NOTE
DTD 03/16/2018 2.635% 03/09/2021
50,159.15 49,977.26 300.10 49,962.50 03/16/1803/09/18AaaAAA 50,000.00 45950VLQ7 2.66
Page 7
For the Month Ending May 31, 2019Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/MaturityCUSIP RatingRatingDateDate Costat CostInterest Cost Value
Security Type/Description S&PMoody's OriginalYTMAccruedAmortized MarketTradeSettle
Par
Supra-National Agency Bond / Note
INTERNATIONAL FINANCE CORPORATION
NOTE
DTD 03/16/2018 2.635% 03/09/2021
300,954.90 299,863.56 1,800.58 299,775.00 03/16/1803/09/18AaaAAA 300,000.00 45950VLQ7 2.66
INTER-AMERICAN DEVELOPMENT BANK
NOTE
DTD 04/19/2018 2.625% 04/19/2021
60,615.30 59,915.92 183.75 59,868.00 04/19/1804/12/18AaaAAA 60,000.00 4581X0DB1 2.70
INTER-AMERICAN DEVELOPMENT BANK
NOTE
DTD 04/19/2018 2.625% 04/19/2021
60,615.30 59,915.92 183.75 59,868.00 04/19/1804/12/18AaaAAA 60,000.00 4581X0DB1 2.70
INTER-AMERICAN DEVELOPMENT BANK
NOTE
DTD 04/19/2018 2.625% 04/19/2021
353,589.25 349,509.55 1,071.88 349,230.00 04/19/1804/12/18AaaAAA 350,000.00 4581X0DB1 2.70
INTL BANK OF RECONSTRUCTION AND DEV
NOTE
DTD 07/25/2018 2.750% 07/23/2021
406,188.40 399,321.65 3,911.11 399,064.00 07/25/1807/18/18AaaAAA 400,000.00 459058GH0 2.83
8,864.57 1,604,836.48 1,593,141.30 2.51 1,591,950.00 1,595,000.00 Security Type Sub-Total
Federal Agency Collateralized Mortgage Obligation
FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
1,356.53 1,360.54 1.87 1,374.17 10/30/1510/07/15AaaAA+ 1,360.54 3136AQDQ0 1.08
FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
1,356.53 1,360.54 1.87 1,374.17 10/30/1510/07/15AaaAA+ 1,360.54 3136AQDQ0 1.08
FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
7,988.51 8,012.11 10.99 8,092.34 10/30/1510/07/15AaaAA+ 8,012.11 3136AQDQ0 1.08
FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
30,181.21 30,081.00 88.06 30,271.97 04/30/1804/11/18AaaAA+ 29,681.58 3136B1XP4 2.27
FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
30,181.21 30,081.00 88.06 30,271.97 04/30/1804/11/18AaaAA+ 29,681.58 3136B1XP4 2.27
Page 8
For the Month Ending May 31, 2019Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/MaturityCUSIP RatingRatingDateDate Costat CostInterest Cost Value
Security Type/Description S&PMoody's OriginalYTMAccruedAmortized MarketTradeSettle
Par
Federal Agency Collateralized Mortgage Obligation
FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
150,906.06 150,405.00 440.28 151,359.88 04/30/1804/11/18AaaAA+ 148,407.91 3136B1XP4 2.27
FHLMC SERIES K721 A2
DTD 12/01/2015 3.090% 08/25/2022
35,832.80 35,207.02 90.13 35,298.05 04/09/1804/04/18AaaAA+ 35,000.00 3137BM6P6 2.61
FHLMC SERIES K721 A2
DTD 12/01/2015 3.090% 08/25/2022
35,832.80 35,207.02 90.13 35,298.05 04/09/1804/04/18AaaAA+ 35,000.00 3137BM6P6 2.61
FHLMC SERIES K721 A2
DTD 12/01/2015 3.090% 08/25/2022
163,807.07 160,946.36 412.00 161,362.50 04/09/1804/04/18AaaAA+ 160,000.00 3137BM6P6 2.61
FHMS KP05 A
DTD 12/01/2018 3.203% 07/01/2023
180,479.66 178,004.19 475.12 178,004.18 12/17/1812/07/18AaaAA+ 178,004.72 3137FKK39 3.11
1,698.51 637,922.38 630,664.78 2.61 632,707.28 626,508.98 Security Type Sub-Total
Federal Agency Bond / Note
FHLB GLOBAL NOTE
DTD 07/14/2016 1.125% 07/14/2021
122,863.25 124,671.87 535.16 124,239.88 07/15/1607/14/16AaaAA+ 125,000.00 3130A8QS5 1.25
FHLB GLOBAL NOTE
DTD 07/14/2016 1.125% 07/14/2021
393,162.40 398,949.98 1,712.50 397,567.60 07/15/1607/14/16AaaAA+ 400,000.00 3130A8QS5 1.25
FNMA NOTES
DTD 08/19/2016 1.250% 08/17/2021
24,610.43 24,961.45 90.28 24,914.48 08/19/1608/17/16AaaAA+ 25,000.00 3135G0N82 1.32
FNMA NOTES
DTD 08/19/2016 1.250% 08/17/2021
78,753.36 79,853.92 288.89 79,676.00 08/19/1608/17/16AaaAA+ 80,000.00 3135G0N82 1.33
FNMA NOTES
DTD 08/19/2016 1.250% 08/17/2021
137,818.38 139,784.10 505.56 139,521.06 08/19/1608/17/16AaaAA+ 140,000.00 3135G0N82 1.32
FNMA NOTES
DTD 08/19/2016 1.250% 08/17/2021
452,831.82 459,160.05 1,661.11 458,137.00 08/19/1608/17/16AaaAA+ 460,000.00 3135G0N82 1.33
4,793.50 1,210,039.64 1,227,381.37 1.30 1,224,056.02 1,230,000.00 Security Type Sub-Total
Corporate Note
Page 9
For the Month Ending May 31, 2019Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/MaturityCUSIP RatingRatingDateDate Costat CostInterest Cost Value
Security Type/Description S&PMoody's OriginalYTMAccruedAmortized MarketTradeSettle
Par
Corporate Note
CITIGROUP INC CORP NOTES
DTD 06/09/2016 2.050% 06/07/2019
24,998.73 24,999.93 247.71 24,987.00 06/09/1606/02/16A3BBB+ 25,000.00 172967KS9 2.07
CITIGROUP INC CORP NOTES
DTD 06/09/2016 2.050% 06/07/2019
24,998.73 24,999.93 247.71 24,987.00 06/09/1606/02/16A3BBB+ 25,000.00 172967KS9 2.07
CITIGROUP INC CORP NOTES
DTD 06/09/2016 2.050% 06/07/2019
104,994.65 104,999.69 1,040.38 104,945.40 06/09/1606/02/16A3BBB+ 105,000.00 172967KS9 2.07
GENERAL ELECTRIC CAP CORP NOTES
DTD 01/08/2010 5.500% 01/08/2020
253,819.50 255,132.62 5,461.81 289,082.50 03/25/1503/20/15Baa1BBB+ 250,000.00 36962G4J0 2.05
CITIGROUP INC (CALLABLE) CORP NOTE
DTD 01/10/2017 2.450% 01/10/2020
49,943.70 49,995.83 479.79 49,980.00 01/10/1701/04/17A3BBB+ 50,000.00 172967LF6 2.46
CITIGROUP INC (CALLABLE) CORP NOTE
DTD 01/10/2017 2.450% 01/10/2020
49,943.70 49,995.83 479.79 49,980.00 01/10/1701/04/17A3BBB+ 50,000.00 172967LF6 2.46
CITIGROUP INC (CALLABLE) CORP NOTE
DTD 01/10/2017 2.450% 01/10/2020
299,662.20 299,974.97 2,878.75 299,880.00 01/10/1701/04/17A3BBB+ 300,000.00 172967LF6 2.46
WELLS FARGO & CO CORP BONDS
DTD 02/02/2015 2.150% 01/30/2020
74,831.63 75,041.29 541.98 75,288.00 03/27/1503/24/15A2A- 75,000.00 94974BGF1 2.07
WELLS FARGO & CO CORP BONDS
DTD 02/02/2015 2.150% 01/30/2020
374,158.13 375,363.94 2,709.90 377,621.25 02/05/1502/02/15A2A- 375,000.00 94974BGF1 2.00
MICROSOFT CORP NOTES
DTD 02/06/2017 1.850% 02/06/2020
49,831.15 49,992.24 295.49 49,966.50 02/06/1701/30/17AaaAAA 50,000.00 594918BV5 1.87
MICROSOFT CORP NOTES
DTD 02/06/2017 1.850% 02/06/2020
49,831.15 49,992.24 295.49 49,966.50 02/06/1701/30/17AaaAAA 50,000.00 594918BV5 1.87
MICROSOFT CORP NOTES
DTD 02/06/2017 1.850% 02/06/2020
298,986.90 299,953.45 1,772.92 299,799.00 02/06/1701/30/17AaaAAA 300,000.00 594918BV5 1.87
AMERICAN EXPRESS CREDIT (CALLABLE)
NOTE
DTD 03/03/2017 2.200% 03/03/2020
29,945.67 29,991.95 161.33 29,968.80 03/03/1702/28/17A2A- 30,000.00 0258M0EE5 2.24
Page 10
For the Month Ending May 31, 2019Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/MaturityCUSIP RatingRatingDateDate Costat CostInterest Cost Value
Security Type/Description S&PMoody's OriginalYTMAccruedAmortized MarketTradeSettle
Par
Corporate Note
AMERICAN EXPRESS CREDIT (CALLABLE)
NOTE
DTD 03/03/2017 2.200% 03/03/2020
29,945.67 29,991.95 161.33 29,968.80 03/03/1702/28/17A2A- 30,000.00 0258M0EE5 2.24
AMERICAN EXPRESS CREDIT (CALLABLE)
NOTE
DTD 03/03/2017 2.200% 03/03/2020
179,674.02 179,951.72 968.00 179,812.80 03/03/1702/28/17A2A- 180,000.00 0258M0EE5 2.24
WALT DISNEY COMPANY CORP NOTES
DTD 03/06/2017 1.950% 03/04/2020
24,904.75 24,998.32 117.81 24,993.50 03/06/1703/01/17A2A 25,000.00 25468PDP8 1.96
WALT DISNEY COMPANY CORP NOTES
DTD 03/06/2017 1.950% 03/04/2020
124,523.75 124,991.58 589.06 124,967.50 03/06/1703/01/17A2A 125,000.00 25468PDP8 1.96
TOYOTA MOTOR CORP NOTES
DTD 03/12/2015 2.150% 03/12/2020
199,576.20 200,291.01 943.61 201,776.00 03/27/1503/23/15Aa3AA- 200,000.00 89236TCF0 1.96
TOYOTA MOTOR CREDIT CORP
DTD 04/17/2017 1.950% 04/17/2020
74,644.80 74,989.70 178.75 74,965.50 04/17/1704/11/17Aa3AA- 75,000.00 89236TDU6 1.97
TOYOTA MOTOR CREDIT CORP
DTD 04/17/2017 1.950% 04/17/2020
223,934.40 224,969.10 536.25 224,896.50 04/17/1704/11/17Aa3AA- 225,000.00 89236TDU6 1.97
HOME DEPOT INC CORP NOTES
DTD 06/05/2017 1.800% 06/05/2020
24,826.13 24,995.03 220.00 24,985.50 06/05/1705/24/17A2A 25,000.00 437076BQ4 1.82
HOME DEPOT INC CORP NOTES
DTD 06/05/2017 1.800% 06/05/2020
24,826.13 24,995.03 220.00 24,985.50 06/05/1705/24/17A2A 25,000.00 437076BQ4 1.82
WALT DISNEY COMPANY CORP NOTES
DTD 06/06/2017 1.800% 06/05/2020
24,871.18 24,990.04 220.00 24,971.00 06/06/1706/01/17A2A 25,000.00 25468PDU7 1.84
WALT DISNEY COMPANY CORP NOTES
DTD 06/06/2017 1.800% 06/05/2020
49,742.35 49,980.07 440.00 49,942.00 06/06/1706/01/17A2A 50,000.00 25468PDU7 1.84
HOME DEPOT INC CORP NOTES
DTD 06/05/2017 1.800% 06/05/2020
148,956.75 149,970.15 1,320.00 149,913.00 06/05/1705/24/17A2A 150,000.00 437076BQ4 1.82
WALT DISNEY COMPANY CORP NOTES
DTD 06/06/2017 1.800% 06/05/2020
174,098.23 174,930.26 1,540.00 174,797.00 06/06/1706/01/17A2A 175,000.00 25468PDU7 1.84
Page 11
For the Month Ending May 31, 2019Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/MaturityCUSIP RatingRatingDateDate Costat CostInterest Cost Value
Security Type/Description S&PMoody's OriginalYTMAccruedAmortized MarketTradeSettle
Par
Corporate Note
JOHN DEERE CAPITAL CORP NOTES
DTD 06/22/2017 1.950% 06/22/2020
24,867.75 24,994.52 215.31 24,984.75 06/22/1706/19/17A2A 25,000.00 24422ETS8 1.97
CATERPILLAR FINL SERVICE NOTE
DTD 09/07/2017 1.850% 09/04/2020
39,725.64 39,985.63 178.83 39,966.40 09/07/1709/05/17A3A 40,000.00 14913Q2A6 1.88
CATERPILLAR FINL SERVICE NOTE
DTD 09/07/2017 1.850% 09/04/2020
39,725.64 39,985.63 178.83 39,966.40 09/07/1709/05/17A3A 40,000.00 14913Q2A6 1.88
CATERPILLAR FINL SERVICE NOTE
DTD 09/07/2017 1.850% 09/04/2020
223,456.73 224,919.18 1,005.94 224,811.00 09/07/1709/05/17A3A 225,000.00 14913Q2A6 1.88
PACCAR FINANCIAL CORP NOTES
DTD 11/13/2017 2.050% 11/13/2020
24,915.03 24,998.90 25.63 24,997.75 11/13/1711/06/17A1A+ 25,000.00 69371RN85 2.05
PACCAR FINANCIAL CORP NOTES
DTD 11/13/2017 2.050% 11/13/2020
24,915.03 24,998.90 25.63 24,997.75 11/13/1711/06/17A1A+ 25,000.00 69371RN85 2.05
APPLE INC
DTD 11/13/2017 2.000% 11/13/2020
49,777.10 49,979.39 50.00 49,958.00 11/13/1711/06/17Aa1AA+ 50,000.00 037833DJ6 2.03
APPLE INC
DTD 11/13/2017 2.000% 11/13/2020
49,777.10 49,979.39 50.00 49,958.00 11/13/1711/06/17Aa1AA+ 50,000.00 037833DJ6 2.03
APPLE INC
DTD 11/13/2017 2.000% 11/13/2020
99,554.20 99,958.77 100.00 99,916.00 11/13/1711/06/17Aa1AA+ 100,000.00 037833DJ6 2.03
PACCAR FINANCIAL CORP NOTES
DTD 11/13/2017 2.050% 11/13/2020
149,490.15 149,993.37 153.75 149,986.50 11/13/1711/06/17A1A+ 150,000.00 69371RN85 2.05
WELLS FARGO & COMPANY NOTES
DTD 12/07/2015 2.550% 12/07/2020
50,018.75 50,378.89 616.25 51,108.00 05/10/1605/06/16A2A- 50,000.00 94974BGR5 2.04
WAL-MART STORES INC CORP NOTE
DTD 10/20/2017 1.900% 12/15/2020
74,613.68 74,945.73 657.08 74,891.25 10/20/1710/11/17Aa2AA 75,000.00 931142EA7 1.95
WAL-MART STORES INC CORP NOTE
DTD 10/20/2017 1.900% 12/15/2020
298,454.70 299,782.93 2,628.33 299,565.00 10/20/1710/11/17Aa2AA 300,000.00 931142EA7 1.95
BRANCH BANKING & TRUST (CALLABLE)
NOTES
DTD 10/26/2017 2.150% 02/01/2021
24,847.88 24,993.84 179.17 24,988.50 10/26/1710/23/17A2A- 25,000.00 05531FAZ6 2.17
Page 12
For the Month Ending May 31, 2019Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/MaturityCUSIP RatingRatingDateDate Costat CostInterest Cost Value
Security Type/Description S&PMoody's OriginalYTMAccruedAmortized MarketTradeSettle
Par
Corporate Note
BRANCH BANKING & TRUST (CALLABLE)
NOTES
DTD 10/26/2017 2.150% 02/01/2021
24,847.88 24,993.84 179.17 24,988.50 10/26/1710/23/17A2A- 25,000.00 05531FAZ6 2.17
BRANCH BANKING & TRUST (CALLABLE)
NOTES
DTD 10/26/2017 2.150% 02/01/2021
74,543.63 74,981.53 537.50 74,965.50 10/26/1710/23/17A2A- 75,000.00 05531FAZ6 2.17
IBM CORP CORP NOTES
DTD 02/06/2018 2.650% 02/05/2021
300,874.20 299,916.23 2,561.67 299,853.00 02/06/1802/01/18A1A 300,000.00 44932HAG8 2.67
NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
25,234.05 24,983.30 153.06 24,972.25 02/26/1802/21/18A2A 25,000.00 63743HER9 2.94
NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
25,234.05 24,983.30 153.06 24,972.25 02/26/1802/21/18A2A 25,000.00 63743HER9 2.94
NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
25,234.05 24,934.09 153.06 24,894.25 04/19/1804/12/18A2A 25,000.00 63743HER9 3.05
NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
25,234.05 24,934.09 153.06 24,894.25 04/19/1804/12/18A2A 25,000.00 63743HER9 3.05
NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
126,170.25 124,916.50 765.28 124,861.25 02/26/1802/21/18A2A 125,000.00 63743HER9 2.94
NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
176,638.35 174,538.64 1,071.39 174,259.75 04/19/1804/12/18A2A 175,000.00 63743HER9 3.05
UNILEVER CAPITAL CORP NOTES
DTD 03/22/2018 2.750% 03/22/2021
302,319.60 299,060.42 1,581.25 298,467.00 03/22/1803/19/18A1A+ 300,000.00 904764AZ0 2.93
TOYOTA MOTOR CREDIT CORP NOTES
DTD 04/13/2018 2.950% 04/13/2021
50,509.15 49,987.35 196.67 49,980.00 04/13/1804/10/18Aa3AA- 50,000.00 89236TEU5 2.96
PEPSICO INC CORP (CALLABLE) NOTE
DTD 10/10/2017 2.000% 04/15/2021
39,836.48 39,995.64 102.22 39,992.00 10/10/1710/05/17A1A+ 40,000.00 713448DX3 2.01
PEPSICO INC CORP (CALLABLE) NOTE
DTD 10/10/2017 2.000% 04/15/2021
39,836.48 39,995.64 102.22 39,992.00 10/10/1710/05/17A1A+ 40,000.00 713448DX3 2.01
Page 13
For the Month Ending May 31, 2019Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/MaturityCUSIP RatingRatingDateDate Costat CostInterest Cost Value
Security Type/Description S&PMoody's OriginalYTMAccruedAmortized MarketTradeSettle
Par
Corporate Note
BANK OF NEW YORK MELLON CORP
(CALLABLE)
DTD 02/19/2016 2.500% 04/15/2021
50,035.75 50,439.48 159.72 51,149.00 05/19/1605/16/16A1A 50,000.00 06406FAA1 2.00
BANK OF NEW YORK MELLON CORP
(CALLABLE)
DTD 02/19/2016 2.500% 04/15/2021
50,035.75 50,439.48 159.72 51,149.00 05/19/1605/16/16A1A 50,000.00 06406FAA1 2.00
PEPSICO INC CORP (CALLABLE) NOTE
DTD 10/10/2017 2.000% 04/15/2021
199,182.40 199,978.20 511.11 199,960.00 10/10/1710/05/17A1A+ 200,000.00 713448DX3 2.01
BANK OF NEW YORK MELLON CORP
(CALLABLE)
DTD 02/19/2016 2.500% 04/15/2021
300,214.50 302,668.72 958.33 306,978.00 05/19/1605/16/16A1A 300,000.00 06406FAA1 2.00
BANK OF AMERICA CORP NOTE
DTD 04/19/2016 2.625% 04/19/2021
25,064.53 25,107.59 76.56 25,194.00 11/03/1711/01/17A2A- 25,000.00 06051GFW4 2.39
MORGAN STANLEY CORP NOTES
DTD 04/21/2016 2.500% 04/21/2021
49,876.05 50,090.03 138.89 50,162.00 11/03/1711/01/17A3BBB+ 50,000.00 61746BEA0 2.40
MORGAN STANLEY CORP NOTES
DTD 04/21/2016 2.500% 04/21/2021
49,876.05 50,090.03 138.89 50,162.00 11/03/1711/01/17A3BBB+ 50,000.00 61746BEA0 2.40
MORGAN STANLEY CORP NOTES
DTD 04/21/2016 2.500% 04/21/2021
299,256.30 300,540.20 833.33 300,972.00 11/03/1711/01/17A3BBB+ 300,000.00 61746BEA0 2.40
AMERICAN EXPRESS CREDIT (CALLABLE)
NOTES
DTD 05/05/2016 2.250% 05/05/2021
198,838.40 199,812.91 325.00 199,536.00 05/31/1605/25/16A2A- 200,000.00 0258M0EB1 2.30
PACCAR FINANCIAL CORP
DTD 05/10/2018 3.100% 05/10/2021
20,257.26 19,996.58 36.17 19,994.80 05/10/1805/07/18A1A+ 20,000.00 69371RP26 3.11
PACCAR FINANCIAL CORP
DTD 05/10/2018 3.100% 05/10/2021
20,257.26 19,996.58 36.17 19,994.80 05/10/1805/07/18A1A+ 20,000.00 69371RP26 3.11
BRANCH BANKING & TRUST (CALLABLE)
NOTE
DTD 05/10/2016 2.050% 05/10/2021
24,748.13 24,993.39 29.90 24,983.50 05/16/1605/10/16A2A- 25,000.00 05531FAV5 2.06
Page 14
For the Month Ending May 31, 2019Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/MaturityCUSIP RatingRatingDateDate Costat CostInterest Cost Value
Security Type/Description S&PMoody's OriginalYTMAccruedAmortized MarketTradeSettle
Par
Corporate Note
BRANCH BANKING & TRUST (CALLABLE)
NOTE
DTD 05/10/2016 2.050% 05/10/2021
24,748.13 24,993.39 29.90 24,983.50 05/16/1605/10/16A2A- 25,000.00 05531FAV5 2.06
PACCAR FINANCIAL CORP
DTD 05/10/2018 3.100% 05/10/2021
101,286.30 99,982.90 180.83 99,974.00 05/10/1805/07/18A1A+ 100,000.00 69371RP26 3.11
BRANCH BANKING & TRUST (CALLABLE)
NOTE
DTD 05/10/2016 2.050% 05/10/2021
148,488.75 149,960.33 179.38 149,901.00 05/16/1605/10/16A2A- 150,000.00 05531FAV5 2.06
HERSHEY COMPANY CORP NOTES
DTD 05/10/2018 3.100% 05/15/2021
25,382.50 24,988.57 34.44 24,982.75 05/10/1805/03/18A1A 25,000.00 427866BA5 3.12
HERSHEY COMPANY CORP NOTES
DTD 05/10/2018 3.100% 05/15/2021
25,382.50 24,988.57 34.44 24,982.75 05/10/1805/03/18A1A 25,000.00 427866BA5 3.12
HERSHEY COMPANY CORP NOTES
DTD 05/10/2018 3.100% 05/15/2021
126,912.50 124,942.87 172.22 124,913.75 05/10/1805/03/18A1A 125,000.00 427866BA5 3.12
STATE STREET CORP NOTES
DTD 05/19/2016 1.950% 05/19/2021
24,806.98 24,961.60 16.25 24,905.50 05/24/1605/19/16A1A 25,000.00 857477AV5 2.03
STATE STREET CORP NOTES
DTD 05/19/2016 1.950% 05/19/2021
24,806.98 24,961.60 16.25 24,905.50 05/24/1605/19/16A1A 25,000.00 857477AV5 2.03
STATE STREET CORP NOTES
DTD 05/19/2016 1.950% 05/19/2021
74,420.93 74,884.81 48.75 74,716.50 05/24/1605/19/16A1A 75,000.00 857477AV5 2.03
CHARLES SCHWAB CORP NOTES
DTD 05/22/2018 3.250% 05/21/2021
35,550.55 34,999.28 31.60 34,998.95 05/22/1805/17/18A2A 35,000.00 808513AW5 3.25
CHARLES SCHWAB CORP NOTES
DTD 05/22/2018 3.250% 05/21/2021
203,146.00 199,995.89 180.56 199,994.00 05/22/1805/17/18A2A 200,000.00 808513AW5 3.25
BANK OF AMERICA CORP (CALLABLE)
DTD 09/18/2017 2.328% 10/01/2021
34,840.05 35,000.00 135.80 35,000.00 09/18/1709/13/17A2A- 35,000.00 06051GGS2 2.33
BANK OF AMERICA CORP (CALLABLE)
DTD 09/18/2017 2.328% 10/01/2021
34,840.05 35,000.00 135.80 35,000.00 09/18/1709/13/17A2A- 35,000.00 06051GGS2 2.33
Page 15
For the Month Ending May 31, 2019Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/MaturityCUSIP RatingRatingDateDate Costat CostInterest Cost Value
Security Type/Description S&PMoody's OriginalYTMAccruedAmortized MarketTradeSettle
Par
Corporate Note
BANK OF AMERICA CORP (CALLABLE)
DTD 09/18/2017 2.328% 10/01/2021
199,086.00 200,000.00 776.00 200,000.00 09/18/1709/13/17A2A- 200,000.00 06051GGS2 2.33
AMERICAN HONDA FINANCE CORP NOTES
DTD 10/10/2018 3.375% 12/10/2021
383,907.38 374,845.49 6,011.72 374,820.00 10/10/1810/03/18A2A 375,000.00 02665WCP4 3.39
JOHN DEERE CAPITAL CORP NOTES
DTD 01/06/2017 2.650% 01/06/2022
50,260.95 49,877.93 533.68 49,779.50 03/15/1703/10/17A2A 50,000.00 24422ETL3 2.75
JOHN DEERE CAPITAL CORP NOTES
DTD 01/06/2017 2.650% 01/06/2022
276,435.23 274,328.61 2,935.24 273,787.25 03/15/1703/10/17A2A 275,000.00 24422ETL3 2.75
BANK OF AMERICA CORP NOTES
DTD 05/17/2018 3.499% 05/17/2022
15,218.21 15,000.00 20.41 15,000.00 05/17/1805/14/18A2A- 15,000.00 06051GHH5 3.50
BANK OF AMERICA CORP NOTES
DTD 05/17/2018 3.499% 05/17/2022
15,218.21 15,000.00 20.41 15,000.00 05/17/1805/14/18A2A- 15,000.00 06051GHH5 3.50
BANK OF AMERICA CORP NOTES
DTD 05/17/2018 3.499% 05/17/2022
76,091.03 75,000.00 102.05 75,000.00 05/17/1805/14/18A2A- 75,000.00 06051GHH5 3.50
JPMORGAN CHASE & CO BONDS
DTD 03/22/2019 3.207% 04/01/2023
682,898.18 675,000.00 4,149.06 675,000.00 03/22/1903/15/19A2A- 675,000.00 46647PBB1 3.21
PNC BANK NA CORP NOTES
DTD 01/23/2019 3.500% 01/23/2024
414,273.20 402,694.41 4,977.78 402,848.00 02/15/1902/12/19A3A- 400,000.00 693475AV7 3.34
61,968.58 9,686,764.79 9,664,152.95 2.45 9,705,341.90 9,655,000.00 Security Type Sub-Total
Certificate of Deposit
NORDEA BANK AB NY CD
DTD 02/22/2018 2.720% 02/20/2020
100,205.10 100,000.00 763.11 100,000.00 02/22/1802/20/18P-1A-1+ 100,000.00 65590ASN7 2.72
NORDEA BANK AB NY CD
DTD 02/22/2018 2.720% 02/20/2020
100,205.10 100,000.00 763.11 100,000.00 02/22/1802/20/18P-1A-1+ 100,000.00 65590ASN7 2.72
NORDEA BANK AB NY CD
DTD 02/22/2018 2.720% 02/20/2020
576,179.33 575,000.00 4,387.89 575,000.00 02/22/1802/20/18P-1A-1+ 575,000.00 65590ASN7 2.72
UBS AG STAMFORD CT LT CD
DTD 03/06/2018 2.900% 03/02/2020
300,855.00 300,000.00 2,150.83 300,000.00 03/06/1803/02/18P-1A-1 300,000.00 90275DHG8 2.93
Page 16
For the Month Ending May 31, 2019Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/MaturityCUSIP RatingRatingDateDate Costat CostInterest Cost Value
Security Type/Description S&PMoody's OriginalYTMAccruedAmortized MarketTradeSettle
Par
Certificate of Deposit
BANK OF NOVA SCOTIA HOUSTON CD
DTD 06/07/2018 3.080% 06/05/2020
30,187.26 29,994.11 451.73 29,988.60 06/07/1806/05/18Aa2A+ 30,000.00 06417GU22 3.10
BANK OF NOVA SCOTIA HOUSTON CD
DTD 06/07/2018 3.080% 06/05/2020
50,312.10 49,990.19 752.89 49,981.00 06/07/1806/05/18Aa2A+ 50,000.00 06417GU22 3.10
BANK OF NOVA SCOTIA HOUSTON CD
DTD 06/07/2018 3.080% 06/05/2020
301,872.60 299,941.14 4,517.33 299,886.00 06/07/1806/05/18Aa2A+ 300,000.00 06417GU22 3.10
WESTPAC BANKING CORP NY CD
DTD 08/07/2017 2.050% 08/03/2020
99,522.80 100,000.00 649.17 100,000.00 08/07/1708/03/17Aa3AA- 100,000.00 96121T4A3 2.05
WESTPAC BANKING CORP NY CD
DTD 08/07/2017 2.050% 08/03/2020
99,522.80 100,000.00 649.17 100,000.00 08/07/1708/03/17Aa3AA- 100,000.00 96121T4A3 2.05
WESTPAC BANKING CORP NY CD
DTD 08/07/2017 2.050% 08/03/2020
537,423.12 540,000.00 3,505.50 540,000.00 08/07/1708/03/17Aa3AA- 540,000.00 96121T4A3 2.05
BANK OF MONTREAL CHICAGO CERT DEPOS
DTD 08/03/2018 3.190% 08/03/2020
672,757.72 670,000.00 17,929.57 670,000.00 08/03/1808/01/18Aa2A+ 670,000.00 06370REU9 3.23
SWEDBANK (NEW YORK) CERT DEPOS
DTD 11/17/2017 2.270% 11/16/2020
99,278.20 100,000.00 100.89 100,000.00 11/17/1711/16/17Aa2AA- 100,000.00 87019U6D6 2.30
SWEDBANK (NEW YORK) CERT DEPOS
DTD 11/17/2017 2.270% 11/16/2020
99,278.20 100,000.00 100.89 100,000.00 11/17/1711/16/17Aa2AA- 100,000.00 87019U6D6 2.30
SWEDBANK (NEW YORK) CERT DEPOS
DTD 11/17/2017 2.270% 11/16/2020
595,669.20 600,000.00 605.33 600,000.00 11/17/1711/16/17Aa2AA- 600,000.00 87019U6D6 2.30
ROYAL BANK OF CANADA NY CD
DTD 06/08/2018 3.240% 06/07/2021
50,725.10 50,000.00 783.00 50,000.00 06/08/1806/07/18Aa2AA- 50,000.00 78012UEE1 3.24
ROYAL BANK OF CANADA NY CD
DTD 06/08/2018 3.240% 06/07/2021
101,450.20 100,000.00 1,566.00 100,000.00 06/08/1806/07/18Aa2AA- 100,000.00 78012UEE1 3.24
ROYAL BANK OF CANADA NY CD
DTD 06/08/2018 3.240% 06/07/2021
532,613.55 525,000.00 8,221.50 525,000.00 06/08/1806/07/18Aa2AA- 525,000.00 78012UEE1 3.24
47,897.91 4,348,057.38 4,339,925.44 2.74 4,339,855.60 4,340,000.00 Security Type Sub-Total
Page 17
For the Month Ending May 31, 2019Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/MaturityCUSIP RatingRatingDateDate Costat CostInterest Cost Value
Security Type/Description S&PMoody's OriginalYTMAccruedAmortized MarketTradeSettle
Par
Asset-Backed Security
BMWLT 2018-1 A4
DTD 10/17/2018 3.360% 03/20/2022
305,314.62 299,997.89 308.00 299,997.33 10/17/1810/10/18AaaAAA 300,000.00 05586CAD6 3.36
GMALT 2018-3 A4
DTD 09/26/2018 3.300% 07/20/2022
278,990.28 274,970.99 277.29 274,964.97 09/26/1809/18/18AaaAAA 275,000.00 36256GAE9 3.31
HAROT 2018-4 A3
DTD 11/28/2018 3.160% 01/15/2023
381,263.74 374,950.45 526.67 374,943.94 11/28/1811/20/18AaaAAA 375,000.00 43815AAC6 3.17
VALET 2018-2 A3
DTD 11/21/2018 3.250% 04/20/2023
330,590.42 324,987.94 322.74 324,986.35 11/21/1811/15/18AaaAAA 325,000.00 92869BAD4 3.25
GMCAR 2018-3 A3
DTD 07/18/2018 3.020% 05/16/2023
304,007.88 299,942.15 377.50 299,930.04 07/18/1807/11/18NRAAA 300,000.00 36255JAD6 3.03
CARMAX AUTO OWNER TRUST
DTD 07/25/2018 3.130% 06/15/2023
355,684.07 349,960.29 486.89 349,952.30 07/25/1807/18/18NRAAA 350,000.00 14313FAD1 3.36
CARMAX AUTO OWNER TRUST
DTD 10/24/2018 3.360% 09/15/2023
358,924.48 349,997.40 522.67 349,996.78 10/24/1810/17/18NRAAA 350,000.00 14315EAC4 3.36
GMCAR 2019-1 A3
DTD 01/16/2019 2.970% 11/16/2023
274,329.13 269,972.34 334.13 269,970.11 01/16/1901/08/19AaaNR 270,000.00 36256XAD4 2.97
3,155.89 2,589,104.62 2,544,779.45 3.23 2,544,741.82 2,545,000.00 Security Type Sub-Total
39,861,508.98 39,415,248.70 2.56 228,552.00 39,438,744.09 39,941,995.03 Managed Account Sub-Total
Money Market Mutual Fund
CAMP Pool 94,427.26 94,427.26 0.00 94,427.26 NRAAAm 94,427.26
94,427.26 94,427.26 0.00 94,427.26 94,427.26 Money Market Sub-Total
$39,955,936.24 $39,509,675.96 $228,552.00 $39,533,171.35 $40,036,422.29 2.56%
$40,264,974.29
$228,552.00
Total Investments
Accrued Interest
Securities Sub-Total
Page 18
For the Month Ending May 31, 2019Managed Account Fair Market Value & Analytics
ValueOn CostAmort Cost to WorstCUSIPBrokerDatePriceDated Date/Coupon/Maturity Par at Mkt
MarketUnreal G/LUnreal G/L Duration
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Security Type/Description Next Call Market YTMEffective
Duration
U.S. Treasury Bond / Note
1.53 (119.34)(451.17) 10,051.17 100.51 MERRILL 10,000.00 912828A83US TREASURY NOTES
DTD 12/31/2013 2.375% 12/31/2020
2.04 1.53
1.54 (161.41)(335.73) 14,933.21 99.55 MORGANST 15,000.00 912828N48US TREASURY NOTES
DTD 12/31/2015 1.750% 12/31/2020
2.04 1.54
1.88 (100.50) 437.50 49,439.45 98.88 MERRILL 50,000.00 912828Q78US TREASURY NOTES
DTD 05/02/2016 1.375% 04/30/2021
1.97 1.88
2.36 (244.10) 949.66 127,938.33 98.41 MERRILL 130,000.00 912828T67US TREASURY NOTES
DTD 10/31/2016 1.250% 10/31/2021
1.92 2.36
2.36 (244.10) 949.66 127,938.33 98.41 MERRILL 130,000.00 912828T67US TREASURY NOTES
DTD 10/31/2016 1.250% 10/31/2021
1.92 2.36
2.36 (441.26) 1,716.70 231,273.14 98.41 MERRILL 235,000.00 912828T67US TREASURY NOTES
DTD 10/31/2016 1.250% 10/31/2021
1.92 2.36
2.82 4,071.09 5,554.64 179,803.08 99.89 MERRILL 180,000.00 912828X47US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
1.91 2.82
2.82 5,654.30 7,714.78 249,726.50 99.89 MERRILL 250,000.00 912828X47US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
1.91 2.82
2.82 7,628.29 9,345.63 274,699.15 99.89 MORGAN_S 275,000.00 912828X47US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
1.91 2.82
2.82 22,504.10 30,704.83 993,911.47 99.89 MERRILL 995,000.00 912828X47US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
1.91 2.82
2.82 34,709.58 45,499.60 1,598,249.60 99.89 MERRILL 1,600,000.00 912828X47US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
1.91 2.82
3.10 25,667.93 33,125.12 991,172.00 99.12 BMO 1,000,000.00 912828TJ9US TREASURY NOTES
DTD 08/15/2012 1.625% 08/15/2022
1.91 3.10
3.41 14,438.07 16,857.51 453,322.35 100.74 MERRILL 450,000.00 912828N30US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
1.91 3.41
3.41 29,626.52 33,187.65 805,906.40 100.74 MERRILL 800,000.00 912828N30US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
1.91 3.41
3.41 35,294.57 38,578.35 1,208,859.60 100.74 MERRILL 1,200,000.00 912828N30US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
1.91 3.41
3.41 69,661.16 73,794.55 3,198,441.03 100.74 MORGAN_S 3,175,000.00 912828N30US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
1.91 3.41
3.41 88,881.20 94,817.22 4,382,116.05 100.74 MERRILL 4,350,000.00 912828N30US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
1.91 3.41
Page 19
For the Month Ending May 31, 2019Managed Account Fair Market Value & Analytics
ValueOn CostAmort Cost to WorstCUSIPBrokerDatePriceDated Date/Coupon/Maturity Par at Mkt
MarketUnreal G/LUnreal G/L Duration
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Security Type/Description Next Call Market YTMEffective
Duration
U.S. Treasury Bond / Note
3.85 16,271.30 17,359.72 1,087,410.50 98.86 SOCGEN 1,100,000.00 912828R69US TREASURY N/B NOTES
DTD 05/31/2016 1.625% 05/31/2023
1.92 3.85
3.85 18,547.28 19,241.69 1,507,546.38 98.86 MORGAN_S 1,525,000.00 912828R69US TREASURY N/B NOTES
DTD 05/31/2016 1.625% 05/31/2023
1.92 3.85
3.85 54,926.26 59,625.75 2,372,532.00 98.86 MORGAN_S 2,400,000.00 912828R69US TREASURY N/B NOTES
DTD 05/31/2016 1.625% 05/31/2023
1.92 3.85
488,673.66 1.91 3.37 426,570.94 19,865,269.74 19,870,000.00 Security Type Sub-Total 3.37
Supra-National Agency Bond / Note
1.26 (323.87)(256.15) 49,623.85 99.25 HSBC 50,000.00 45905UP32INTL BANK OF RECONSTRUCTION AND
DEV NOTE
DTD 09/19/2017 1.561% 09/12/2020
2.16 1.26
1.26 (809.67)(640.37) 124,059.63 99.25 HSBC 125,000.00 45905UP32INTL BANK OF RECONSTRUCTION AND
DEV NOTE
DTD 09/19/2017 1.561% 09/12/2020
2.16 1.26
1.26 (971.61)(768.45) 148,871.55 99.25 HSBC 150,000.00 45905UP32INTL BANK OF RECONSTRUCTION AND
DEV NOTE
DTD 09/19/2017 1.561% 09/12/2020
2.16 1.26
1.71 181.89 196.65 50,159.15 100.32 HSBC 50,000.00 45950VLQ7INTERNATIONAL FINANCE CORPORATION
NOTE
DTD 03/16/2018 2.635% 03/09/2021
2.45 1.71
1.71 181.89 196.65 50,159.15 100.32 HSBC 50,000.00 45950VLQ7INTERNATIONAL FINANCE CORPORATION
NOTE
DTD 03/16/2018 2.635% 03/09/2021
2.45 1.71
1.71 1,091.34 1,179.90 300,954.90 100.32 HSBC 300,000.00 45950VLQ7INTERNATIONAL FINANCE CORPORATION
NOTE
DTD 03/16/2018 2.635% 03/09/2021
2.45 1.71
1.83 699.38 747.30 60,615.30 101.03 CITIGRP 60,000.00 4581X0DB1INTER-AMERICAN DEVELOPMENT BANK
NOTE
DTD 04/19/2018 2.625% 04/19/2021
2.07 1.83
1.83 699.38 747.30 60,615.30 101.03 CITIGRP 60,000.00 4581X0DB1INTER-AMERICAN DEVELOPMENT BANK
NOTE
DTD 04/19/2018 2.625% 04/19/2021
2.07 1.83
Page 20
For the Month Ending May 31, 2019Managed Account Fair Market Value & Analytics
ValueOn CostAmort Cost to WorstCUSIPBrokerDatePriceDated Date/Coupon/Maturity Par at Mkt
MarketUnreal G/LUnreal G/L Duration
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Security Type/Description Next Call Market YTMEffective
Duration
Supra-National Agency Bond / Note
1.83 4,079.70 4,359.25 353,589.25 101.03 CITIGRP 350,000.00 4581X0DB1INTER-AMERICAN DEVELOPMENT BANK
NOTE
DTD 04/19/2018 2.625% 04/19/2021
2.07 1.83
2.06 6,866.75 7,124.40 406,188.40 101.55 MORGAN_S 400,000.00 459058GH0INTL BANK OF RECONSTRUCTION AND
DEV NOTE
DTD 07/25/2018 2.750% 07/23/2021
2.01 2.06
12,886.48 2.17 1.74 11,695.18 1,604,836.48 1,595,000.00 Security Type Sub-Total 1.74
Federal Agency Collateralized Mortgage Obligation
0.22 (4.01)(17.64) 1,356.53 99.71 MORGANST 1,360.54 3136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
2.48 0.16
0.22 (4.01)(17.64) 1,356.53 99.71 MORGANST 1,360.54 3136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
2.48 0.16
0.22 (23.60)(103.83) 7,988.51 99.71 MORGANST 8,012.11 3136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
2.48 0.16
1.18 100.21 (90.76) 30,181.21 101.68 JPM_CHAS 29,681.58 3136B1XP4FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
1.94 1.72
1.18 100.21 (90.76) 30,181.21 101.68 JPM_CHAS 29,681.58 3136B1XP4FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
1.94 1.72
1.18 501.06 (453.82) 150,906.06 101.68 JPM_CHAS 148,407.91 3136B1XP4FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
1.94 1.72
1.63 625.78 534.75 35,832.80 102.38 CITIGRP 35,000.00 3137BM6P6FHLMC SERIES K721 A2
DTD 12/01/2015 3.090% 08/25/2022
1.52 2.87
1.63 625.78 534.75 35,832.80 102.38 CITIGRP 35,000.00 3137BM6P6FHLMC SERIES K721 A2
DTD 12/01/2015 3.090% 08/25/2022
1.52 2.87
1.63 2,860.71 2,444.57 163,807.07 102.38 CITIGRP 160,000.00 3137BM6P6FHLMC SERIES K721 A2
DTD 12/01/2015 3.090% 08/25/2022
1.52 2.87
2.07 2,475.47 2,475.48 180,479.66 101.39 CSFB 178,004.72 3137FKK39FHMS KP05 A
DTD 12/01/2018 3.203% 07/01/2023
2.43 1.77
5,215.10 1.94 1.58 7,257.60 637,922.38 626,508.98 Security Type Sub-Total 2.13
Federal Agency Bond / Note
Page 21
For the Month Ending May 31, 2019Managed Account Fair Market Value & Analytics
ValueOn CostAmort Cost to WorstCUSIPBrokerDatePriceDated Date/Coupon/Maturity Par at Mkt
MarketUnreal G/LUnreal G/L Duration
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Security Type/Description Next Call Market YTMEffective
Duration
Federal Agency Bond / Note
2.07 (1,808.62)(1,376.63) 122,863.25 98.29 TD SEC U 125,000.00 3130A8QS5FHLB GLOBAL NOTE
DTD 07/14/2016 1.125% 07/14/2021
1.95 2.07
2.07 (5,787.58)(4,405.20) 393,162.40 98.29 TD SEC U 400,000.00 3130A8QS5FHLB GLOBAL NOTE
DTD 07/14/2016 1.125% 07/14/2021
1.95 2.07
2.16 (351.02)(304.05) 24,610.43 98.44 TD SEC U 25,000.00 3135G0N82FNMA NOTES
DTD 08/19/2016 1.250% 08/17/2021
1.97 2.16
2.16 (1,100.56)(922.64) 78,753.36 98.44 CITIGRP 80,000.00 3135G0N82FNMA NOTES
DTD 08/19/2016 1.250% 08/17/2021
1.97 2.16
2.16 (1,965.72)(1,702.68) 137,818.38 98.44 TD SEC U 140,000.00 3135G0N82FNMA NOTES
DTD 08/19/2016 1.250% 08/17/2021
1.97 2.16
2.16 (6,328.23)(5,305.18) 452,831.82 98.44 CITIGRP 460,000.00 3135G0N82FNMA NOTES
DTD 08/19/2016 1.250% 08/17/2021
1.97 2.16
(14,016.38) 1.96 2.12 (17,341.73) 1,210,039.64 1,230,000.00 Security Type Sub-Total 2.12
Corporate Note
0.02 (1.20) 11.73 24,998.73 99.99 CITIGRP 25,000.00 172967KS9CITIGROUP INC CORP NOTES
DTD 06/09/2016 2.050% 06/07/2019
2.00 0.02
0.02 (1.20) 11.73 24,998.73 99.99 CITIGRP 25,000.00 172967KS9CITIGROUP INC CORP NOTES
DTD 06/09/2016 2.050% 06/07/2019
2.00 0.02
0.02 (5.04) 49.25 104,994.65 99.99 CITIGRP 105,000.00 172967KS9CITIGROUP INC CORP NOTES
DTD 06/09/2016 2.050% 06/07/2019
2.00 0.02
0.58 (1,313.12)(35,263.00) 253,819.50 101.53 GOLDMAN 250,000.00 36962G4J0GENERAL ELECTRIC CAP CORP NOTES
DTD 01/08/2010 5.500% 01/08/2020
2.92 0.58
0.59 (52.13)(36.30) 49,943.70 99.89 12/10/19CITIGRP 50,000.00 172967LF6CITIGROUP INC (CALLABLE) CORP NOTE
DTD 01/10/2017 2.450% 01/10/2020
2.64 0.55
0.59 (52.13)(36.30) 49,943.70 99.89 12/10/19CITIGRP 50,000.00 172967LF6CITIGROUP INC (CALLABLE) CORP NOTE
DTD 01/10/2017 2.450% 01/10/2020
2.64 0.55
0.59 (312.77)(217.80) 299,662.20 99.89 12/10/19CITIGRP 300,000.00 172967LF6CITIGROUP INC (CALLABLE) CORP NOTE
DTD 01/10/2017 2.450% 01/10/2020
2.64 0.55
0.65 (209.66)(456.37) 74,831.63 99.78 1ST TENN 75,000.00 94974BGF1WELLS FARGO & CO CORP BONDS
DTD 02/02/2015 2.150% 01/30/2020
2.49 0.65
0.65 (1,205.81)(3,463.12) 374,158.13 99.78 JEFFERIE 375,000.00 94974BGF1WELLS FARGO & CO CORP BONDS
DTD 02/02/2015 2.150% 01/30/2020
2.49 0.65
Page 22
For the Month Ending May 31, 2019Managed Account Fair Market Value & Analytics
ValueOn CostAmort Cost to WorstCUSIPBrokerDatePriceDated Date/Coupon/Maturity Par at Mkt
MarketUnreal G/LUnreal G/L Duration
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Security Type/Description Next Call Market YTMEffective
Duration
Corporate Note
0.67 (161.09)(135.35) 49,831.15 99.66 HSBC 50,000.00 594918BV5MICROSOFT CORP NOTES
DTD 02/06/2017 1.850% 02/06/2020
2.35 0.67
0.67 (161.09)(135.35) 49,831.15 99.66 HSBC 50,000.00 594918BV5MICROSOFT CORP NOTES
DTD 02/06/2017 1.850% 02/06/2020
2.35 0.67
0.67 (966.55)(812.10) 298,986.90 99.66 HSBC 300,000.00 594918BV5MICROSOFT CORP NOTES
DTD 02/06/2017 1.850% 02/06/2020
2.35 0.67
0.74 (46.28)(23.13) 29,945.67 99.82 02/01/20MERRILL 30,000.00 0258M0EE5AMERICAN EXPRESS CREDIT (CALLABLE)
NOTE
DTD 03/03/2017 2.200% 03/03/2020
2.44 0.69
0.74 (46.28)(23.13) 29,945.67 99.82 02/01/20MERRILL 30,000.00 0258M0EE5AMERICAN EXPRESS CREDIT (CALLABLE)
NOTE
DTD 03/03/2017 2.200% 03/03/2020
2.44 0.69
0.74 (277.70)(138.78) 179,674.02 99.82 02/01/20MERRILL 180,000.00 0258M0EE5AMERICAN EXPRESS CREDIT (CALLABLE)
NOTE
DTD 03/03/2017 2.200% 03/03/2020
2.44 0.69
0.74 (93.57)(88.75) 24,904.75 99.62 CITIGRP 25,000.00 25468PDP8WALT DISNEY COMPANY CORP NOTES
DTD 03/06/2017 1.950% 03/04/2020
2.46 0.74
0.74 (467.83)(443.75) 124,523.75 99.62 CITIGRP 125,000.00 25468PDP8WALT DISNEY COMPANY CORP NOTES
DTD 03/06/2017 1.950% 03/04/2020
2.46 0.74
0.77 (714.81)(2,199.80) 199,576.20 99.79 HSBC 200,000.00 89236TCF0TOYOTA MOTOR CORP NOTES
DTD 03/12/2015 2.150% 03/12/2020
2.42 0.77
0.86 (344.90)(320.70) 74,644.80 99.53 MERRILL 75,000.00 89236TDU6TOYOTA MOTOR CREDIT CORP
DTD 04/17/2017 1.950% 04/17/2020
2.50 0.86
0.86 (1,034.70)(962.10) 223,934.40 99.53 MERRILL 225,000.00 89236TDU6TOYOTA MOTOR CREDIT CORP
DTD 04/17/2017 1.950% 04/17/2020
2.50 0.86
0.99 (168.90)(159.37) 24,826.13 99.30 JPM_CHAS 25,000.00 437076BQ4HOME DEPOT INC CORP NOTES
DTD 06/05/2017 1.800% 06/05/2020
2.50 0.99
0.99 (168.90)(159.37) 24,826.13 99.30 JPM_CHAS 25,000.00 437076BQ4HOME DEPOT INC CORP NOTES
DTD 06/05/2017 1.800% 06/05/2020
2.50 0.99
0.99 (118.86)(99.82) 24,871.18 99.48 DEUTSCHE 25,000.00 25468PDU7WALT DISNEY COMPANY CORP NOTES
DTD 06/06/2017 1.800% 06/05/2020
2.32 0.99
0.99 (237.72)(199.65) 49,742.35 99.48 DEUTSCHE 50,000.00 25468PDU7WALT DISNEY COMPANY CORP NOTES
DTD 06/06/2017 1.800% 06/05/2020
2.32 0.99
Page 23
For the Month Ending May 31, 2019Managed Account Fair Market Value & Analytics
ValueOn CostAmort Cost to WorstCUSIPBrokerDatePriceDated Date/Coupon/Maturity Par at Mkt
MarketUnreal G/LUnreal G/L Duration
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Security Type/Description Next Call Market YTMEffective
Duration
Corporate Note
0.99 (1,013.40)(956.25) 148,956.75 99.30 JPM_CHAS 150,000.00 437076BQ4HOME DEPOT INC CORP NOTES
DTD 06/05/2017 1.800% 06/05/2020
2.50 0.99
0.99 (832.03)(698.77) 174,098.23 99.48 DEUTSCHE 175,000.00 25468PDU7WALT DISNEY COMPANY CORP NOTES
DTD 06/06/2017 1.800% 06/05/2020
2.32 0.99
1.03 (126.77)(117.00) 24,867.75 99.47 DEUTSCHE 25,000.00 24422ETS8JOHN DEERE CAPITAL CORP NOTES
DTD 06/22/2017 1.950% 06/22/2020
2.46 1.03
1.23 (259.99)(240.76) 39,725.64 99.31 BARCLAYS 40,000.00 14913Q2A6CATERPILLAR FINL SERVICE NOTE
DTD 09/07/2017 1.850% 09/04/2020
2.41 1.23
1.23 (259.99)(240.76) 39,725.64 99.31 BARCLAYS 40,000.00 14913Q2A6CATERPILLAR FINL SERVICE NOTE
DTD 09/07/2017 1.850% 09/04/2020
2.41 1.23
1.23 (1,462.45)(1,354.27) 223,456.73 99.31 BARCLAYS 225,000.00 14913Q2A6CATERPILLAR FINL SERVICE NOTE
DTD 09/07/2017 1.850% 09/04/2020
2.41 1.23
1.42 (83.87)(82.72) 24,915.03 99.66 CITIGRP 25,000.00 69371RN85PACCAR FINANCIAL CORP NOTES
DTD 11/13/2017 2.050% 11/13/2020
2.29 1.42
1.42 (83.87)(82.72) 24,915.03 99.66 CITIGRP 25,000.00 69371RN85PACCAR FINANCIAL CORP NOTES
DTD 11/13/2017 2.050% 11/13/2020
2.29 1.42
1.42 (202.29)(180.90) 49,777.10 99.55 JPM_CHAS 50,000.00 037833DJ6APPLE INC
DTD 11/13/2017 2.000% 11/13/2020
2.31 1.42
1.42 (202.29)(180.90) 49,777.10 99.55 JPM_CHAS 50,000.00 037833DJ6APPLE INC
DTD 11/13/2017 2.000% 11/13/2020
2.31 1.42
1.42 (404.57)(361.80) 99,554.20 99.55 JPM_CHAS 100,000.00 037833DJ6APPLE INC
DTD 11/13/2017 2.000% 11/13/2020
2.31 1.42
1.42 (503.22)(496.35) 149,490.15 99.66 CITIGRP 150,000.00 69371RN85PACCAR FINANCIAL CORP NOTES
DTD 11/13/2017 2.050% 11/13/2020
2.29 1.42
1.46 (360.14)(1,089.25) 50,018.75 100.04 UBS AG 50,000.00 94974BGR5WELLS FARGO & COMPANY NOTES
DTD 12/07/2015 2.550% 12/07/2020
2.52 1.46
1.49 (332.05)(277.57) 74,613.68 99.48 MORGAN_S 75,000.00 931142EA7WAL-MART STORES INC CORP NOTE
DTD 10/20/2017 1.900% 12/15/2020
2.24 1.49
1.49 (1,328.23)(1,110.30) 298,454.70 99.48 MORGAN_S 300,000.00 931142EA7WAL-MART STORES INC CORP NOTE
DTD 10/20/2017 1.900% 12/15/2020
2.24 1.49
1.61 (145.96)(140.62) 24,847.88 99.39 01/01/21MORGAN_S 25,000.00 05531FAZ6BRANCH BANKING & TRUST (CALLABLE)
NOTES
DTD 10/26/2017 2.150% 02/01/2021
2.52 1.58
Page 24
For the Month Ending May 31, 2019Managed Account Fair Market Value & Analytics
ValueOn CostAmort Cost to WorstCUSIPBrokerDatePriceDated Date/Coupon/Maturity Par at Mkt
MarketUnreal G/LUnreal G/L Duration
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Security Type/Description Next Call Market YTMEffective
Duration
Corporate Note
1.61 (145.96)(140.62) 24,847.88 99.39 01/01/21MORGAN_S 25,000.00 05531FAZ6BRANCH BANKING & TRUST (CALLABLE)
NOTES
DTD 10/26/2017 2.150% 02/01/2021
2.52 1.58
1.61 (437.90)(421.87) 74,543.63 99.39 01/01/21MORGAN_S 75,000.00 05531FAZ6BRANCH BANKING & TRUST (CALLABLE)
NOTES
DTD 10/26/2017 2.150% 02/01/2021
2.52 1.58
1.62 957.97 1,021.20 300,874.20 100.29 BNP_PARI 300,000.00 44932HAG8IBM CORP CORP NOTES
DTD 02/06/2018 2.650% 02/05/2021
2.47 1.62
1.73 250.75 261.80 25,234.05 100.94 RBC 25,000.00 63743HER9NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
2.36 1.73
1.73 250.75 261.80 25,234.05 100.94 RBC 25,000.00 63743HER9NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
2.36 1.73
1.73 299.96 339.80 25,234.05 100.94 RBC 25,000.00 63743HER9NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
2.36 1.73
1.73 299.96 339.80 25,234.05 100.94 RBC 25,000.00 63743HER9NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
2.36 1.73
1.73 1,253.75 1,309.00 126,170.25 100.94 RBC 125,000.00 63743HER9NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
2.36 1.73
1.73 2,099.71 2,378.60 176,638.35 100.94 RBC 175,000.00 63743HER9NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
2.36 1.73
1.75 3,259.18 3,852.60 302,319.60 100.77 CITIGRP 300,000.00 904764AZ0UNILEVER CAPITAL CORP NOTES
DTD 03/22/2018 2.750% 03/22/2021
2.31 1.75
1.80 521.80 529.15 50,509.15 101.02 JPM_CHAS 50,000.00 89236TEU5TOYOTA MOTOR CREDIT CORP NOTES
DTD 04/13/2018 2.950% 04/13/2021
2.39 1.80
1.82 (159.16)(155.52) 39,836.48 99.59 03/15/21MERRILL 40,000.00 713448DX3PEPSICO INC CORP (CALLABLE) NOTE
DTD 10/10/2017 2.000% 04/15/2021
2.22 1.77
1.82 (159.16)(155.52) 39,836.48 99.59 03/15/21MERRILL 40,000.00 713448DX3PEPSICO INC CORP (CALLABLE) NOTE
DTD 10/10/2017 2.000% 04/15/2021
2.22 1.77
1.73 (403.73)(1,113.25) 50,035.75 100.07 03/15/21KEYBAN 50,000.00 06406FAA1BANK OF NEW YORK MELLON CORP
(CALLABLE)
DTD 02/19/2016 2.500% 04/15/2021
2.46 1.75
1.73 (403.73)(1,113.25) 50,035.75 100.07 03/15/21KEYBAN 50,000.00 06406FAA1BANK OF NEW YORK MELLON CORP
(CALLABLE)
DTD 02/19/2016 2.500% 04/15/2021
2.46 1.75
Page 25
For the Month Ending May 31, 2019Managed Account Fair Market Value & Analytics
ValueOn CostAmort Cost to WorstCUSIPBrokerDatePriceDated Date/Coupon/Maturity Par at Mkt
MarketUnreal G/LUnreal G/L Duration
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Security Type/Description Next Call Market YTMEffective
Duration
Corporate Note
1.82 (795.80)(777.60) 199,182.40 99.59 03/15/21MERRILL 200,000.00 713448DX3PEPSICO INC CORP (CALLABLE) NOTE
DTD 10/10/2017 2.000% 04/15/2021
2.22 1.77
1.73 (2,454.22)(6,763.50) 300,214.50 100.07 03/15/21KEYBAN 300,000.00 06406FAA1BANK OF NEW YORK MELLON CORP
(CALLABLE)
DTD 02/19/2016 2.500% 04/15/2021
2.46 1.75
1.82 (43.06)(129.47) 25,064.53 100.26 MERRILL 25,000.00 06051GFW4BANK OF AMERICA CORP NOTE
DTD 04/19/2016 2.625% 04/19/2021
2.48 1.82
1.83 (213.98)(285.95) 49,876.05 99.75 MORGAN_S 50,000.00 61746BEA0MORGAN STANLEY CORP NOTES
DTD 04/21/2016 2.500% 04/21/2021
2.63 1.83
1.83 (213.98)(285.95) 49,876.05 99.75 MORGAN_S 50,000.00 61746BEA0MORGAN STANLEY CORP NOTES
DTD 04/21/2016 2.500% 04/21/2021
2.63 1.83
1.83 (1,283.90)(1,715.70) 299,256.30 99.75 MORGAN_S 300,000.00 61746BEA0MORGAN STANLEY CORP NOTES
DTD 04/21/2016 2.500% 04/21/2021
2.63 1.83
1.87 (974.51)(697.60) 198,838.40 99.42 04/04/21KEYBAN 200,000.00 0258M0EB1AMERICAN EXPRESS CREDIT (CALLABLE)
NOTES
DTD 05/05/2016 2.250% 05/05/2021
2.56 1.82
1.87 260.68 262.46 20,257.26 101.29 MERRILL 20,000.00 69371RP26PACCAR FINANCIAL CORP
DTD 05/10/2018 3.100% 05/10/2021
2.42 1.87
1.87 260.68 262.46 20,257.26 101.29 MERRILL 20,000.00 69371RP26PACCAR FINANCIAL CORP
DTD 05/10/2018 3.100% 05/10/2021
2.42 1.87
1.89 (245.26)(235.37) 24,748.13 98.99 04/09/21SCOTIA 25,000.00 05531FAV5BRANCH BANKING & TRUST (CALLABLE)
NOTE
DTD 05/10/2016 2.050% 05/10/2021
2.59 1.84
1.89 (245.26)(235.37) 24,748.13 98.99 04/09/21SCOTIA 25,000.00 05531FAV5BRANCH BANKING & TRUST (CALLABLE)
NOTE
DTD 05/10/2016 2.050% 05/10/2021
2.59 1.84
1.87 1,303.40 1,312.30 101,286.30 101.29 MERRILL 100,000.00 69371RP26PACCAR FINANCIAL CORP
DTD 05/10/2018 3.100% 05/10/2021
2.42 1.87
1.89 (1,471.58)(1,412.25) 148,488.75 98.99 04/09/21SCOTIA 150,000.00 05531FAV5BRANCH BANKING & TRUST (CALLABLE)
NOTE
DTD 05/10/2016 2.050% 05/10/2021
2.59 1.84
1.89 393.93 399.75 25,382.50 101.53 MERRILL 25,000.00 427866BA5HERSHEY COMPANY CORP NOTES
DTD 05/10/2018 3.100% 05/15/2021
2.30 1.89
Page 26
For the Month Ending May 31, 2019Managed Account Fair Market Value & Analytics
ValueOn CostAmort Cost to WorstCUSIPBrokerDatePriceDated Date/Coupon/Maturity Par at Mkt
MarketUnreal G/LUnreal G/L Duration
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Security Type/Description Next Call Market YTMEffective
Duration
Corporate Note
1.89 393.93 399.75 25,382.50 101.53 MERRILL 25,000.00 427866BA5HERSHEY COMPANY CORP NOTES
DTD 05/10/2018 3.100% 05/15/2021
2.30 1.89
1.89 1,969.63 1,998.75 126,912.50 101.53 MERRILL 125,000.00 427866BA5HERSHEY COMPANY CORP NOTES
DTD 05/10/2018 3.100% 05/15/2021
2.30 1.89
1.92 (154.62)(98.52) 24,806.98 99.23 GOLDMAN 25,000.00 857477AV5STATE STREET CORP NOTES
DTD 05/19/2016 1.950% 05/19/2021
2.35 1.92
1.92 (154.62)(98.52) 24,806.98 99.23 GOLDMAN 25,000.00 857477AV5STATE STREET CORP NOTES
DTD 05/19/2016 1.950% 05/19/2021
2.35 1.92
1.92 (463.88)(295.57) 74,420.93 99.23 GOLDMAN 75,000.00 857477AV5STATE STREET CORP NOTES
DTD 05/19/2016 1.950% 05/19/2021
2.35 1.92
1.90 551.27 551.60 35,550.55 101.57 CSFB 35,000.00 808513AW5CHARLES SCHWAB CORP NOTES
DTD 05/22/2018 3.250% 05/21/2021
2.43 1.90
1.90 3,150.11 3,152.00 203,146.00 101.57 CSFB 200,000.00 808513AW5CHARLES SCHWAB CORP NOTES
DTD 05/22/2018 3.250% 05/21/2021
2.43 1.90
2.25 (159.95)(159.95) 34,840.05 99.54 10/01/20MERRILL 35,000.00 06051GGS2BANK OF AMERICA CORP (CALLABLE)
DTD 09/18/2017 2.328% 10/01/2021
2.53 1.32
2.25 (159.95)(159.95) 34,840.05 99.54 10/01/20MERRILL 35,000.00 06051GGS2BANK OF AMERICA CORP (CALLABLE)
DTD 09/18/2017 2.328% 10/01/2021
2.53 1.32
2.25 (914.00)(914.00) 199,086.00 99.54 10/01/20MERRILL 200,000.00 06051GGS2BANK OF AMERICA CORP (CALLABLE)
DTD 09/18/2017 2.328% 10/01/2021
2.53 1.32
2.38 9,061.89 9,087.38 383,907.38 102.38 JPM_CHAS 375,000.00 02665WCP4AMERICAN HONDA FINANCE CORP NOTES
DTD 10/10/2018 3.375% 12/10/2021
2.40 2.38
2.47 383.02 481.45 50,260.95 100.52 MITSU 50,000.00 24422ETL3JOHN DEERE CAPITAL CORP NOTES
DTD 01/06/2017 2.650% 01/06/2022
2.44 2.47
2.47 2,106.62 2,647.98 276,435.23 100.52 MITSU 275,000.00 24422ETL3JOHN DEERE CAPITAL CORP NOTES
DTD 01/06/2017 2.650% 01/06/2022
2.44 2.47
2.79 218.21 218.21 15,218.21 101.45 MERRILL 15,000.00 06051GHH5BANK OF AMERICA CORP NOTES
DTD 05/17/2018 3.499% 05/17/2022
2.98 2.79
2.79 218.21 218.21 15,218.21 101.45 MERRILL 15,000.00 06051GHH5BANK OF AMERICA CORP NOTES
DTD 05/17/2018 3.499% 05/17/2022
2.98 2.79
2.79 1,091.03 1,091.03 76,091.03 101.45 MERRILL 75,000.00 06051GHH5BANK OF AMERICA CORP NOTES
DTD 05/17/2018 3.499% 05/17/2022
2.98 2.79
3.57 7,898.18 7,898.18 682,898.18 101.17 JPM_CHAS 675,000.00 46647PBB1JPMORGAN CHASE & CO BONDS
DTD 03/22/2019 3.207% 04/01/2023
2.88 3.57
Page 27
For the Month Ending May 31, 2019Managed Account Fair Market Value & Analytics
ValueOn CostAmort Cost to WorstCUSIPBrokerDatePriceDated Date/Coupon/Maturity Par at Mkt
MarketUnreal G/LUnreal G/L Duration
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Security Type/Description Next Call Market YTMEffective
Duration
Corporate Note
4.23 11,578.79 11,425.20 414,273.20 103.57 CITIGRP 400,000.00 693475AV7PNC BANK NA CORP NOTES
DTD 01/23/2019 3.500% 01/23/2024
2.68 4.23
(18,577.11) 2.48 1.70 22,611.84 9,686,764.79 9,655,000.00 Security Type Sub-Total 1.67
Certificate of Deposit
0.70 205.10 205.10 100,205.10 100.21 GOLDMAN 100,000.00 65590ASN7NORDEA BANK AB NY CD
DTD 02/22/2018 2.720% 02/20/2020
2.43 0.70
0.70 205.10 205.10 100,205.10 100.21 GOLDMAN 100,000.00 65590ASN7NORDEA BANK AB NY CD
DTD 02/22/2018 2.720% 02/20/2020
2.43 0.70
0.70 1,179.33 1,179.33 576,179.33 100.21 GOLDMAN 575,000.00 65590ASN7NORDEA BANK AB NY CD
DTD 02/22/2018 2.720% 02/20/2020
2.43 0.70
0.74 855.00 855.00 300,855.00 100.29 UBS 300,000.00 90275DHG8UBS AG STAMFORD CT LT CD
DTD 03/06/2018 2.900% 03/02/2020
2.54 0.74
0.98 193.15 198.66 30,187.26 100.62 GOLDMAN 30,000.00 06417GU22BANK OF NOVA SCOTIA HOUSTON CD
DTD 06/07/2018 3.080% 06/05/2020
2.45 0.98
0.98 321.91 331.10 50,312.10 100.62 GOLDMAN 50,000.00 06417GU22BANK OF NOVA SCOTIA HOUSTON CD
DTD 06/07/2018 3.080% 06/05/2020
2.45 0.98
0.98 1,931.46 1,986.60 301,872.60 100.62 GOLDMAN 300,000.00 06417GU22BANK OF NOVA SCOTIA HOUSTON CD
DTD 06/07/2018 3.080% 06/05/2020
2.45 0.98
1.16 (477.20)(477.20) 99,522.80 99.52 JPM_CHAS 100,000.00 96121T4A3WESTPAC BANKING CORP NY CD
DTD 08/07/2017 2.050% 08/03/2020
2.36 1.16
1.16 (477.20)(477.20) 99,522.80 99.52 JPM_CHAS 100,000.00 96121T4A3WESTPAC BANKING CORP NY CD
DTD 08/07/2017 2.050% 08/03/2020
2.36 1.16
1.16 (2,576.88)(2,576.88) 537,423.12 99.52 JPM_CHAS 540,000.00 96121T4A3WESTPAC BANKING CORP NY CD
DTD 08/07/2017 2.050% 08/03/2020
2.36 1.16
1.13 2,757.72 2,757.72 672,757.72 100.41 BMO 670,000.00 06370REU9BANK OF MONTREAL CHICAGO CERT
DEPOS
DTD 08/03/2018 3.190% 08/03/2020
2.86 1.13
1.43 (721.80)(721.80) 99,278.20 99.28 MERRILL 100,000.00 87019U6D6SWEDBANK (NEW YORK) CERT DEPOS
DTD 11/17/2017 2.270% 11/16/2020
2.80 1.43
1.43 (721.80)(721.80) 99,278.20 99.28 MERRILL 100,000.00 87019U6D6SWEDBANK (NEW YORK) CERT DEPOS
DTD 11/17/2017 2.270% 11/16/2020
2.80 1.43
Page 28
For the Month Ending May 31, 2019Managed Account Fair Market Value & Analytics
ValueOn CostAmort Cost to WorstCUSIPBrokerDatePriceDated Date/Coupon/Maturity Par at Mkt
MarketUnreal G/LUnreal G/L Duration
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Security Type/Description Next Call Market YTMEffective
Duration
Certificate of Deposit
1.43 (4,330.80)(4,330.80) 595,669.20 99.28 MERRILL 600,000.00 87019U6D6SWEDBANK (NEW YORK) CERT DEPOS
DTD 11/17/2017 2.270% 11/16/2020
2.80 1.43
1.92 725.10 725.10 50,725.10 101.45 RBC 50,000.00 78012UEE1ROYAL BANK OF CANADA NY CD
DTD 06/08/2018 3.240% 06/07/2021
2.50 1.92
1.92 1,450.20 1,450.20 101,450.20 101.45 RBC 100,000.00 78012UEE1ROYAL BANK OF CANADA NY CD
DTD 06/08/2018 3.240% 06/07/2021
2.50 1.92
1.92 7,613.55 7,613.55 532,613.55 101.45 RBC 525,000.00 78012UEE1ROYAL BANK OF CANADA NY CD
DTD 06/08/2018 3.240% 06/07/2021
2.50 1.92
8,201.78 2.57 1.20 8,131.94 4,348,057.38 4,340,000.00 Security Type Sub-Total 1.20
Asset-Backed Security
1.41 5,316.73 5,317.29 305,314.62 101.77 SOCGEN 300,000.00 05586CAD6BMWLT 2018-1 A4
DTD 10/17/2018 3.360% 03/20/2022
2.11 1.64
1.57 4,019.29 4,025.31 278,990.28 101.45 RBC 275,000.00 36256GAE9GMALT 2018-3 A4
DTD 09/26/2018 3.300% 07/20/2022
2.38 1.53
1.80 6,313.29 6,319.80 381,263.74 101.67 JPM_CHAS 375,000.00 43815AAC6HAROT 2018-4 A3
DTD 11/28/2018 3.160% 01/15/2023
2.24 1.84
1.94 5,602.48 5,604.07 330,590.42 101.72 CITIGRP 325,000.00 92869BAD4VALET 2018-2 A3
DTD 11/21/2018 3.250% 04/20/2023
2.37 1.73
1.97 4,065.73 4,077.84 304,007.88 101.34 JPM_CHAS 300,000.00 36255JAD6GMCAR 2018-3 A3
DTD 07/18/2018 3.020% 05/16/2023
2.34 1.69
2.00 5,723.78 5,731.77 355,684.07 101.62 BARCLAYS 350,000.00 14313FAD1CARMAX AUTO OWNER TRUST
DTD 07/25/2018 3.130% 06/15/2023
2.32 1.64
2.13 8,927.08 8,927.70 358,924.48 102.55 MERRILL 350,000.00 14315EAC4CARMAX AUTO OWNER TRUST
DTD 10/24/2018 3.360% 09/15/2023
2.17 1.88
2.21 4,356.79 4,359.02 274,329.13 101.60 RBC 270,000.00 36256XAD4GMCAR 2019-1 A3
DTD 01/16/2019 2.970% 11/16/2023
2.25 1.62
44,362.80 2.27 1.88 44,325.17 2,589,104.62 2,545,000.00 Security Type Sub-Total 1.71
39,861,508.98 39,941,995.03 526,746.33 503,250.94 2.50 2.16 Managed Account Sub-Total 2.49
Money Market Mutual Fund
Page 29
For the Month Ending May 31, 2019Managed Account Fair Market Value & Analytics
ValueOn CostAmort Cost to WorstCUSIPBrokerDatePriceDated Date/Coupon/Maturity Par at Mkt
MarketUnreal G/LUnreal G/L Duration
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Security Type/Description Next Call Market YTMEffective
Duration
Money Market Mutual Fund
0.00 0.00 0.00 94,427.26 1.00 94,427.26 CAMP Pool 0.00
94,427.26 94,427.26 0.00 0.00 0.00 Money Market Sub-Total 0.00
Total Investments $40,264,974.29
$228,552.00
$40,036,422.29
Accrued Interest
Securities Sub-Total $39,955,936.24 $526,746.33 $503,250.94 2.50 2.16% 2.49
Page 30
For the Month Ending May 31, 2019Managed 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/LRealized G/L Sale
Amort Cost Method
BUY
05/03/19 US TREASURY N/B NOTES
DTD 05/31/2016 1.625% 05/31/2023
912828R69 (1,488,304.69)(10,484.38)(1,498,789.07) 1,525,000.00 05/01/19
(10,484.38)(1,498,789.07)(1,488,304.69) 1,525,000.00 Transaction Type Sub-Total
INTEREST
05/25/19 FHLMC SERIES K721 A2
DTD 12/01/2015 3.090% 08/25/2022
3137BM6P6 0.00 90.13 90.13 35,000.00 05/01/19
05/25/19 FHLMC SERIES K721 A2
DTD 12/01/2015 3.090% 08/25/2022
3137BM6P6 0.00 90.13 90.13 35,000.00 05/01/19
05/25/19 FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
3136AQDQ0 0.00 11.96 11.96 8,719.87 05/01/19
05/25/19 FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
3136B1XP4 0.00 90.83 90.83 30,103.35 05/01/19
05/25/19 FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
3136B1XP4 0.00 90.83 90.83 30,103.35 05/01/19
05/25/19 FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
3136AQDQ0 0.00 2.03 2.03 1,480.73 05/01/19
05/25/19 FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
3136AQDQ0 0.00 2.03 2.03 1,480.73 05/01/19
05/25/19 FHMS KP05 A
DTD 12/01/2018 3.203% 07/01/2023
3137FKK39 0.00 475.93 475.93 178,305.92 05/01/19
05/25/19 FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
3136B1XP4 0.00 454.15 454.15 150,516.76 05/01/19
05/25/19 FHLMC SERIES K721 A2
DTD 12/01/2015 3.090% 08/25/2022
3137BM6P6 0.00 412.00 412.00 160,000.00 05/01/19
05/05/19 AMERICAN EXPRESS CREDIT
(CALLABLE) NOTES
DTD 05/05/2016 2.250% 05/05/2021
0258M0EB1 0.00 2,250.00 2,250.00 200,000.00 05/05/19
05/10/19 PACCAR FINANCIAL CORP
DTD 05/10/2018 3.100% 05/10/2021
69371RP26 0.00 310.00 310.00 20,000.00 05/10/19
05/10/19 PACCAR FINANCIAL CORP
DTD 05/10/2018 3.100% 05/10/2021
69371RP26 0.00 310.00 310.00 20,000.00 05/10/19
Page 31
For the Month Ending May 31, 2019Managed 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/LRealized G/L Sale
Amort Cost Method
INTEREST
05/10/19 BRANCH BANKING & TRUST
(CALLABLE) NOTE
DTD 05/10/2016 2.050% 05/10/2021
05531FAV5 0.00 256.25 256.25 25,000.00 05/10/19
05/10/19 BRANCH BANKING & TRUST
(CALLABLE) NOTE
DTD 05/10/2016 2.050% 05/10/2021
05531FAV5 0.00 256.25 256.25 25,000.00 05/10/19
05/10/19 PACCAR FINANCIAL CORP
DTD 05/10/2018 3.100% 05/10/2021
69371RP26 0.00 1,550.00 1,550.00 100,000.00 05/10/19
05/10/19 BRANCH BANKING & TRUST
(CALLABLE) NOTE
DTD 05/10/2016 2.050% 05/10/2021
05531FAV5 0.00 1,537.50 1,537.50 150,000.00 05/10/19
05/13/19 PACCAR FINANCIAL CORP NOTES
DTD 11/13/2017 2.050% 11/13/2020
69371RN85 0.00 256.25 256.25 25,000.00 05/13/19
05/13/19 PACCAR FINANCIAL CORP NOTES
DTD 11/13/2017 2.050% 11/13/2020
69371RN85 0.00 256.25 256.25 25,000.00 05/13/19
05/13/19 APPLE INC
DTD 11/13/2017 2.000% 11/13/2020
037833DJ6 0.00 500.00 500.00 50,000.00 05/13/19
05/13/19 PACCAR FINANCIAL CORP NOTES
DTD 11/13/2017 2.050% 11/13/2020
69371RN85 0.00 1,537.50 1,537.50 150,000.00 05/13/19
05/13/19 APPLE INC
DTD 11/13/2017 2.000% 11/13/2020
037833DJ6 0.00 500.00 500.00 50,000.00 05/13/19
05/13/19 APPLE INC
DTD 11/13/2017 2.000% 11/13/2020
037833DJ6 0.00 1,000.00 1,000.00 100,000.00 05/13/19
05/15/19 HERSHEY COMPANY CORP NOTES
DTD 05/10/2018 3.100% 05/15/2021
427866BA5 0.00 387.50 387.50 25,000.00 05/15/19
05/15/19 HERSHEY COMPANY CORP NOTES
DTD 05/10/2018 3.100% 05/15/2021
427866BA5 0.00 1,937.50 1,937.50 125,000.00 05/15/19
05/15/19 HERSHEY COMPANY CORP NOTES
DTD 05/10/2018 3.100% 05/15/2021
427866BA5 0.00 387.50 387.50 25,000.00 05/15/19
05/15/19 HAROT 2018-4 A3
DTD 11/28/2018 3.160% 01/15/2023
43815AAC6 0.00 987.50 987.50 375,000.00 05/15/19
05/15/19 CARMAX AUTO OWNER TRUST
DTD 07/25/2018 3.130% 06/15/2023
14313FAD1 0.00 912.92 912.92 350,000.00 05/15/19
Page 32
For the Month Ending May 31, 2019Managed 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/LRealized G/L Sale
Amort Cost Method
INTEREST
05/15/19 CARMAX AUTO OWNER TRUST
DTD 10/24/2018 3.360% 09/15/2023
14315EAC4 0.00 980.00 980.00 350,000.00 05/15/19
05/16/19 SWEDBANK (NEW YORK) CERT DEPOS
DTD 11/17/2017 2.270% 11/16/2020
87019U6D6 0.00 6,847.82 6,847.82 600,000.00 05/16/19
05/16/19 SWEDBANK (NEW YORK) CERT DEPOS
DTD 11/17/2017 2.270% 11/16/2020
87019U6D6 0.00 1,141.31 1,141.31 100,000.00 05/16/19
05/16/19 GMCAR 2018-3 A3
DTD 07/18/2018 3.020% 05/16/2023
36255JAD6 0.00 755.00 755.00 300,000.00 05/16/19
05/16/19 SWEDBANK (NEW YORK) CERT DEPOS
DTD 11/17/2017 2.270% 11/16/2020
87019U6D6 0.00 1,141.31 1,141.31 100,000.00 05/16/19
05/16/19 GMCAR 2019-1 A3
DTD 01/16/2019 2.970% 11/16/2023
36256XAD4 0.00 668.25 668.25 270,000.00 05/16/19
05/17/19 BANK OF AMERICA CORP NOTES
DTD 05/17/2018 3.499% 05/17/2022
06051GHH5 0.00 1,312.12 1,312.12 75,000.00 05/17/19
05/17/19 BANK OF AMERICA CORP NOTES
DTD 05/17/2018 3.499% 05/17/2022
06051GHH5 0.00 262.43 262.43 15,000.00 05/17/19
05/17/19 BANK OF AMERICA CORP NOTES
DTD 05/17/2018 3.499% 05/17/2022
06051GHH5 0.00 262.43 262.43 15,000.00 05/17/19
05/19/19 STATE STREET CORP NOTES
DTD 05/19/2016 1.950% 05/19/2021
857477AV5 0.00 243.75 243.75 25,000.00 05/19/19
05/19/19 STATE STREET CORP NOTES
DTD 05/19/2016 1.950% 05/19/2021
857477AV5 0.00 243.75 243.75 25,000.00 05/19/19
05/19/19 STATE STREET CORP NOTES
DTD 05/19/2016 1.950% 05/19/2021
857477AV5 0.00 731.25 731.25 75,000.00 05/19/19
05/20/19 GMALT 2018-3 A4
DTD 09/26/2018 3.300% 07/20/2022
36256GAE9 0.00 756.25 756.25 275,000.00 05/20/19
05/20/19 VALET 2018-2 A3
DTD 11/21/2018 3.250% 04/20/2023
92869BAD4 0.00 880.21 880.21 325,000.00 05/20/19
05/20/19 BMWLT 2018-1 A4
DTD 10/17/2018 3.360% 03/20/2022
05586CAD6 0.00 840.00 840.00 300,000.00 05/20/19
05/21/19 CHARLES SCHWAB CORP NOTES
DTD 05/22/2018 3.250% 05/21/2021
808513AW5 0.00 568.75 568.75 35,000.00 05/21/19
05/21/19 CHARLES SCHWAB CORP NOTES
DTD 05/22/2018 3.250% 05/21/2021
808513AW5 0.00 3,250.00 3,250.00 200,000.00 05/21/19
Page 33
For the Month Ending May 31, 2019Managed 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/LRealized G/L Sale
Amort Cost Method
INTEREST
05/31/19 US TREASURY N/B NOTES
DTD 05/31/2016 1.625% 05/31/2023
912828R69 0.00 12,390.63 12,390.63 1,525,000.00 05/31/19
05/31/19 US TREASURY N/B NOTES
DTD 05/31/2016 1.625% 05/31/2023
912828R69 0.00 8,937.50 8,937.50 1,100,000.00 05/31/19
05/31/19 US TREASURY N/B NOTES
DTD 05/31/2016 1.625% 05/31/2023
912828R69 0.00 19,500.00 19,500.00 2,400,000.00 05/31/19
78,565.70 78,565.70 0.00 10,580,710.71 Transaction Type Sub-Total
PAYDOWNS
05/25/19 FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
3136B1XP4 421.77 0.00 421.77 (8.39) 0.00 421.77 05/01/19
05/25/19 FHMS KP05 A
DTD 12/01/2018 3.203% 07/01/2023
3137FKK39 301.20 0.00 301.20 0.00 0.00 301.20 05/01/19
05/25/19 FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
3136AQDQ0 120.19 0.00 120.19 (1.20) 0.00 120.19 05/01/19
05/25/19 FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
3136B1XP4 421.77 0.00 421.77 (8.39) 0.00 421.77 05/01/19
05/25/19 FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
3136AQDQ0 120.19 0.00 120.19 (1.20) 0.00 120.19 05/01/19
05/25/19 FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
3136AQDQ0 707.78 0.00 707.78 (7.09) 0.00 707.78 05/01/19
05/25/19 FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
3136B1XP4 2,108.85 0.00 2,108.85 (41.95) 0.00 2,108.85 05/01/19
0.00 0.00 (68.22) 4,201.75 4,201.75 4,201.75 Transaction Type Sub-Total
SELL
05/03/19 US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 113,809.57 17.58 113,827.15 269.53 (165.89)FIFO 115,000.00 05/01/19
05/03/19 US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 252,360.35 38.97 252,399.32 5,508.40 3,564.62 FIFO 255,000.00 05/01/19
05/03/19 US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 509,668.95 78.72 509,747.67 1,207.03 (742.88)FIFO 515,000.00 05/01/19
Page 34
For the Month Ending May 31, 2019Managed 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/LRealized G/L Sale
Amort Cost Method
SELL
05/03/19 US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 113,809.57 17.58 113,827.15 269.53 (165.89)FIFO 115,000.00 05/01/19
152.85 2,489.96 7,254.49 989,801.29 989,648.44 1,000,000.00 Transaction Type Sub-Total
(494,454.50) 68,234.17 (426,220.33) 7,186.27 2,489.96 Managed Account Sub-Total
Total Security Transactions $7,186.27 ($426,220.33)$68,234.17 ($494,454.50)$2,489.96
Page 35
For the Month Ending May 31, 2019Account Statement
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDateTransaction Description of TransactionUnit PriceDate
CAMP Pool
523,688.14 Opening Balance
05/03/1905/03/19Purchase - Principal 912828X47 1.00 989,648.44 1,513,336.58
05/03/1905/03/19Purchase - Interest 912828X47 1.00 152.85 1,513,489.43
05/03/1905/03/19Redemption - Interest 912828R69 1.00 (10,484.38) 1,503,005.05
05/03/1905/03/19Redemption - Principal 912828R69 1.00 (1,488,304.69) 14,700.36
05/06/1905/06/19Purchase - Interest 0258M0EB1 1.00 2,250.00 16,950.36
05/10/1905/10/19Purchase - Interest 05531FAV5 1.00 256.25 17,206.61
05/10/1905/10/19Purchase - Interest 05531FAV5 1.00 256.25 17,462.86
05/10/1905/10/19Purchase - Interest 05531FAV5 1.00 1,537.50 19,000.36
05/10/1905/10/19Purchase - Interest 69371RP26 1.00 310.00 19,310.36
05/10/1905/10/19Purchase - Interest 69371RP26 1.00 310.00 19,620.36
05/10/1905/10/19Purchase - Interest 69371RP26 1.00 1,550.00 21,170.36
05/13/1905/13/19Purchase - Interest 037833DJ6 1.00 500.00 21,670.36
05/13/1905/13/19Purchase - Interest 037833DJ6 1.00 500.00 22,170.36
05/13/1905/13/19Purchase - Interest 037833DJ6 1.00 1,000.00 23,170.36
05/13/1905/13/19Purchase - Interest 69371RN85 1.00 256.25 23,426.61
05/13/1905/13/19Purchase - Interest 69371RN85 1.00 1,537.50 24,964.11
05/13/1905/13/19Purchase - Interest 69371RN85 1.00 256.25 25,220.36
05/15/1905/15/19Purchase - Interest 427866BA5 1.00 387.50 25,607.86
05/15/1905/15/19Purchase - Interest 427866BA5 1.00 1,937.50 27,545.36
05/15/1905/15/19Purchase - Interest 427866BA5 1.00 387.50 27,932.86
05/15/1905/15/19Purchase - Interest 14313FAD1 1.00 912.92 28,845.78
Page 36
For the Month Ending May 31, 2019Account Statement
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDateTransaction Description of TransactionUnit PriceDate
CAMP Pool
05/15/1905/15/19Purchase - Interest 14315EAC4 1.00 980.00 29,825.78
05/15/1905/15/19Purchase - Interest 43815AAC6 1.00 987.50 30,813.28
05/16/1905/16/19Purchase - Interest 87019U6D6 1.00 1,141.31 31,954.59
05/16/1905/16/19Purchase - Interest 87019U6D6 1.00 1,141.31 33,095.90
05/16/1905/16/19Purchase - Interest 87019U6D6 1.00 6,847.82 39,943.72
05/16/1905/16/19Purchase - Interest 36255JAD6 1.00 755.00 40,698.72
05/16/1905/16/19Purchase - Interest 36256XAD4 1.00 668.25 41,366.97
05/17/1905/17/19Purchase - Interest 06051GHH5 1.00 262.43 41,629.40
05/17/1905/17/19Purchase - Interest 06051GHH5 1.00 262.43 41,891.83
05/17/1905/17/19Purchase - Interest 06051GHH5 1.00 1,312.12 43,203.95
05/20/1905/20/19Purchase - Interest 857477AV5 1.00 243.75 43,447.70
05/20/1905/20/19Purchase - Interest 857477AV5 1.00 731.25 44,178.95
05/20/1905/20/19Purchase - Interest 857477AV5 1.00 243.75 44,422.70
05/20/1905/20/19Purchase - Interest 05586CAD6 1.00 840.00 45,262.70
05/20/1905/20/19Purchase - Interest 36256GAE9 1.00 756.25 46,018.95
05/20/1905/20/19Purchase - Interest 92869BAD4 1.00 880.21 46,899.16
05/21/1905/21/19Purchase - Interest 808513AW5 1.00 568.75 47,467.91
05/21/1905/21/19Purchase - Interest 808513AW5 1.00 3,250.00 50,717.91
05/28/1905/28/19Purchase - Interest 3136AQDQ0 1.00 11.96 50,729.87
05/28/1905/28/19Purchase - Interest 3136AQDQ0 1.00 2.03 50,731.90
05/28/1905/28/19Purchase - Interest 3136AQDQ0 1.00 2.03 50,733.93
05/28/1905/28/19Purchase - Interest 3136B1XP4 1.00 446.53 51,180.46
Page 37
For the Month Ending May 31, 2019Account Statement
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDateTransaction Description of TransactionUnit PriceDate
CAMP Pool
05/28/1905/28/19Purchase - Interest 3136B1XP4 1.00 90.83 51,271.29
05/28/1905/28/19Purchase - Interest 3136B1XP4 1.00 90.83 51,362.12
05/28/1905/28/19Purchase - Interest 3137BM6P6 1.00 412.00 51,774.12
05/28/1905/28/19Purchase - Interest 3137BM6P6 1.00 90.13 51,864.25
05/28/1905/28/19Purchase - Interest 3137BM6P6 1.00 90.13 51,954.38
05/28/1905/28/19Purchase - Interest 3137FKK39 1.00 475.93 52,430.31
05/28/1905/28/19Purchase - Interest 3136AQDQ0 1.00 11.96 52,442.27
05/28/1905/28/19Purchase - Interest 3136AQDQ0 1.00 2.03 52,444.30
05/28/1905/28/19Purchase - Interest 3136AQDQ0 1.00 2.03 52,446.33
05/28/1905/28/19Purchase - Interest 3136B1XP4 1.00 446.53 52,892.86
05/28/1905/28/19Purchase - Interest 3136B1XP4 1.00 89.31 52,982.17
05/28/1905/28/19Purchase - Interest 3136B1XP4 1.00 89.31 53,071.48
05/28/1905/28/19Purchase - Interest 3137BM6P6 1.00 412.00 53,483.48
05/28/1905/28/19Purchase - Interest 3137BM6P6 1.00 90.13 53,573.61
05/28/1905/28/19Purchase - Interest 3137BM6P6 1.00 90.13 53,663.74
05/28/1905/28/19Purchase - Interest 3137FKK39 1.00 475.93 54,139.67
05/28/1905/28/19Purchase - Principal 3136AQDQ0 1.00 707.78 54,847.45
05/28/1905/28/19Purchase - Principal 3136AQDQ0 1.00 120.19 54,967.64
05/28/1905/28/19Purchase - Principal 3136AQDQ0 1.00 120.19 55,087.83
05/28/1905/28/19Purchase - Principal 3136B1XP4 1.00 2,108.85 57,196.68
05/28/1905/28/19Purchase - Principal 3136B1XP4 1.00 421.77 57,618.45
05/28/1905/28/19Purchase - Principal 3136B1XP4 1.00 421.77 58,040.22
Page 38
For the Month Ending May 31, 2019Account Statement
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDateTransaction Description of TransactionUnit PriceDate
CAMP Pool
05/28/1905/28/19Purchase - Principal 3137FKK39 1.00 301.20 58,341.42
05/28/1905/28/19Purchase - Principal 3136AQDQ0 1.00 707.80 59,049.22
05/28/1905/28/19Purchase - Principal 3136AQDQ0 1.00 120.19 59,169.41
05/28/1905/28/19Purchase - Principal 3136AQDQ0 1.00 120.19 59,289.60
05/28/1905/28/19Purchase - Principal 3136B1XP4 1.00 2,108.85 61,398.45
05/28/1905/28/19Purchase - Principal 3136B1XP4 1.00 421.77 61,820.22
05/28/1905/28/19Purchase - Principal 3136B1XP4 1.00 421.77 62,241.99
05/28/1905/28/19Redemption - Interest 3136AQDQ0 -REVERSAL 1.00 (11.96) 62,230.03
05/28/1905/28/19Redemption - Interest 3136AQDQ0 -REVERSAL 1.00 (2.03) 62,228.00
05/28/1905/28/19Redemption - Interest 3136AQDQ0 -REVERSAL 1.00 (2.03) 62,225.97
05/28/1905/28/19Redemption - Interest 3136B1XP4 -REVERSAL 1.00 (446.53) 61,779.44
05/28/1905/28/19Redemption - Interest 3136B1XP4 -REVERSAL 1.00 (89.31) 61,690.13
05/28/1905/28/19Redemption - Interest 3136B1XP4 -REVERSAL 1.00 (89.31) 61,600.82
05/28/1905/28/19Redemption - Interest 3137BM6P6 -REVERSAL 1.00 (412.00) 61,188.82
05/28/1905/28/19Redemption - Interest 3137BM6P6 -REVERSAL 1.00 (90.13) 61,098.69
05/28/1905/28/19Redemption - Interest 3137BM6P6 -REVERSAL 1.00 (90.13) 61,008.56
05/28/1905/28/19Redemption - Interest 3137FKK39 -REVERSAL 1.00 (475.93) 60,532.63
05/28/1905/28/19Redemption - Principal 3136AQDQ0 -REVERSAL 1.00 (707.80) 59,824.83
05/28/1905/28/19Redemption - Principal 3136AQDQ0 -REVERSAL 1.00 (120.19) 59,704.64
05/28/1905/28/19Redemption - Principal 3136AQDQ0 -REVERSAL 1.00 (120.19) 59,584.45
05/28/1905/28/19Redemption - Principal 3136B1XP4 -REVERSAL 1.00 (2,108.85) 57,475.60
05/28/1905/28/19Redemption - Principal 3136B1XP4 -REVERSAL 1.00 (421.77) 57,053.83
Page 39
For the Month Ending May 31, 2019Account Statement
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Settlement Dollar AmountShare or Trade
Shares OwnedDateTransaction Description of TransactionUnit PriceDate
CAMP Pool
05/28/1905/28/19Redemption - Principal 3136B1XP4 -REVERSAL 1.00 (421.77) 56,632.06
05/28/1905/28/19IP Fees April 2019 1.00 (3,007.87) 53,624.19
05/28/1905/28/19U.S. Bank Fees March 2019 1.00 (180.19) 53,444.00
05/29/1905/29/19Purchase - Correction to Interest 3136B1XP4 from 5/28/19 1.00 454.15 53,898.15
05/29/1905/29/19Redemption - Reversal of Interest 3136B1XP4 from 5/28/19 1.00 (446.53) 53,451.62
05/31/1905/31/19Purchase - Interest 912828R69 1.00 19,500.00 72,951.62
05/31/1905/31/19Purchase - Interest 912828R69 1.00 12,390.63 85,342.25
05/31/1905/31/19Purchase - Interest 912828R69 1.00 8,937.50 94,279.75
05/31/1906/03/19Accrual Income Div Reinvestment - Distributions 1.00 147.51 94,427.26
94,427.26
94,427.26
94,427.26
68,765.22
1,738.06
0.00
(13,697,279.83)
13,740,904.36
50,802.73
147.51
94,427.26
0.00
(1,508,033.59)
1,078,772.71
523,688.14
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
May January-May
2.52%
Page 40
Review of Investment Performance
CAMP Accounts
Client Management Team
Sarah Meacham, Managing Director
Richard Babbe, CCM, Senior Managing Consultant
601 South Figueroa, Suite 4500
Los Angeles, CA 90017
213-489-4075
PFM Asset Management LLC
213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
Investment Performance Review
For the Quarter Ended March 31, 2019
CITY OF LAKE ELSINORE
PFM Asset Management LLC
For the Quarter Ended March 31, 2019
Portfolio Overview
Key Messages
Economic Conditions
While overall economic conditions remain favorable, market expectations are that economic growth will slow both in the U.S. and
globally in 2019.
Inflation remained near the federal reserve’s desired target level, which reduced the need for further interest rate hikes.
Interest rates fell further during the first quarter, as the federal reserve backed away from any further interest rate hikes during
2019. Over the past twelve months, the 2-year U.S. Treasury yield was essentially unchanged.
After failing sharply at the end of 2018, the equity markets rebounded in the first quarter on favorable corporate earnings along
with the federal reserve being on hold.
A trade war with China and tensions with Iran are among the factors that could disrupt basic economic and interest rate trends.
Portfolio Review
We continued to actively manage the portfolio to optimize its performance in a changed market environment.
Given the market uncertainty at the start of the year, we took a somewhat defensive posture by positioning the portfolio duration
towards that of its benchmark along with emphasizing US Treasuries and being selective regarding new corporate investments.
Falling interest rates contributed to market value appreciation and higher total returns for the quarter. As a result, total returns
were up sharply in the quarter. However, the yields available on new investments are down from the levels realized for most of
2018.
As intermediate-term yields fell during the quarter, there was less advantage in investing in longer-term securities. However, by
maintaining investment discipline, the City is more likely to achieve its long-term investment objectives.
CITY OF LAKE ELSINORE
1
Ma
r
k
e
t
U
p
d
a
t
e
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
PFM Asset Management LLC
Market Update
Source: Bloomberg, latest data available as of 3/31/19. SAAR is seasonally adjusted annualized rate.
Recent U.S. Economic Conditions
4.
2
%
3.
4
%
2.
2
%
-2%
0%
2%
4%
6%
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2014 2015 2016 2017 2018 2019
U.S. Real GDP
(QoQ, SAAR)
Forecast
2013
40
60
80
100
120
140
160
Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Consumer Confidence
3.2%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Average Hourly Earnings (YoY)
6.2%
5.4%
5.0%
4.4%
3.9%3.8%
3%
4%
5%
6%
7%
Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Unemployment Rate
18-year high
Largest monthly gain
since 2011
2
PFM Asset ManagementLLC
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
The Market Expects a Rate Cut by Year End
Market Update
Source: Bloomberg, as of 5/28/2019
-0.50%
-0.25%
0.00%
0.25%
0.50%
0.75%
May '18 Jul '18 Sep '18 Nov '18 Jan '19 Mar '19
2019 Rate Moves
Priced into the Futures Market
-0.34%
1
3
2
Hikes
1
2
Cuts
3
PFM Asset ManagementLLC
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
2-Year U.S. Treasury Yield History
Ten Years Ending March 31, 2019
Market Update
Source: Bloomberg, as of 3/3/19.
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Average: 0.89%
42-year low: 0.15%
2.26%
2.97%
2.27%
Highest since 2008
4
PFM Asset ManagementLLC
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Yield Curve Remains Partially Inverted
Market Update
Source: Bloomberg, as of 3/3/19.
1.50%
1.75%
2.00%
2.25%
2.50%
2.75%
3.00%
3.25%
3.50%
3
M
1
Y
2
Y
3
Y
4
Y
5
Y
10
Y
30
Y
Yi
e
l
d
Maturity
March 29, 2019
December 31, 2018
September 28, 2018
Maturity 1Q19
03/29/19
Year-End
12/31/18
3Q18
9/28/18
3month 2.38%2.35%2.20%
1 year 2.39%2.60%2.56%
2 year 2.26%2.49%2.82%
3 year 2.20%2.46%2.88%
5 year 2.23%2.51%2.95%
10 year 2.41%2.68%3.06%
30 year 2.81%3.01%3.21%
U.S. Treasury Yield Curve
Inversion
5
ICITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
PFM Asset Management LLC
Market Update
Are We Nearing a Recession?
400
600
800
1,000
1,200
1,400
1,600
Housing Starts (000s, saar)
30
35
40
45
50
55
60
65
ISM Manufacturing
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
Inflation Indicators
Core PCE (YoY)
Core CPI (YoY)
0
100
200
300
400
500
600
700
1-5 Yr. A -AAA Corporate
Index (OAS)
-400
-200
0
200
400
600
Yield Curve (bps)
3mo-10yr
100k
200k
300k
400k
500k
600k
700k
Initial Jobless Claims
Source: Bloomberg as of 3/31/19.
6
PFM Asset ManagementLLC
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Stock Market Volatility Continues Amid Trade War
Market Update
Source: Bloomberg, as of 05/28/2019.
2,300
2,400
2,500
2,600
2,700
2,800
2,900
3,000
May '18 Aug '18 Nov '18 Feb '19 May '19
S&P Price Change
2017 close
+20.2%
since
12/24
7
In
v
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s
t
m
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n
t
S
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a
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&
P
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PFM Asset ManagementLLC
For the Quarter Ended March 31, 2019
CITY OF LAKE ELSINORE Portfolio Compliance
Sector Allocation & Compliance
The portfolio is in compliance with the City Investment Policy and the California Government Code.
Market values, excluding accrued interest. Detail may not add to total due to rounding. Current investment policy as of June 2018.
Security Type Market Value % of
Portfolio
% Change
vs. 12/31/18
Permitted by
Policy In Compliance
$19,054,965 48.1%+0.6%100%
$1,198,931 3.0%-100%
$646,572 1.6%-0.2%100%
$1,596,940 4.0%-30%
$4,347,027 11.0%-2.1%30%
$10,050,392 25.4%+0.9%30%
U.S. Treasury
Federal Agency
Federal Agency CMOs
Supranationals
Negotiable CDs
Corporate Notes
Asset-Backed Securities $2,572,719 6.5%+0.6%20%
Securities Sub-Total $39,467,546 99.7%
Accrued Interest $230,504
Securities Total $39,698,050
CAMP Cash Reserve Portfolio $116,856 0.3%+0.2%100%
Total Investments $39,814,906 100.0%
8
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Snapshot
Portfolio Statistics
As of March 31, 2019
$39,765,762
$39,814,906
$39,467,546
$230,504
-
Accrued Interest:
Cash:
Par Value:
Total Market Value:
Security Market Value:
CAMP $116,856
$39,371,096
2.43%
2.55%
AAAverage Credit: *
Yield at Cost:
Amortized Cost:
Yield at Market:
Effective Duration:2.55 Years
Duration to Worst:2.55 Years
Average Maturity:2.82 Years
Credit Quality (S&P Ratings)**
8.3%
A
6.9%
A-
5.0%
A+
0.8%
A-1
2.0%
A-1+
0.9%
AA
7.0%
AA-
53.3%
AA+
10.9%
AAA
0.3%
AAAm
4.1%
BBB+
0.7%
Not Rated
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
0 - 1 Year1 - 2 Years2 - 3 Years3 - 4 Years4 - 5 Years> 5 Years
9.7%
16.0%17.7%
43.3%
13.2%
0.0%
Maturity Distribution
Sector Allocation
6.5%
Asset-Backed
11.0%
Certificate
of Deposit
25.4%
Corporate
1.6%
Federal
Agency/CMO
3.0%
Federal
Agency/GSE
0.3%
Mny Mkt
Fund / Pool
4.0%
Supra-Sov /
Supra-Natl
Agency
48.2%
U.S.
Treasury
PFM Asset Management LLC
* An average of each security’s credit rating assigned a numeric value and adjusted for its relative weighting in the portfolio.
** Securities held in the CIty's portfolio are in compliance with California Government Code and the City's Investment Policy dated June 2018
9
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Composition
Sector Allocation
March 31, 2019 December 31, 2018 September 30, 2018 June 30, 2018
% of TotalMV ($MM)Sector % of Total% of Total% of Total MV ($MM)MV ($MM)MV ($MM)
U.S. Treasury 19.1 48.2% 18.6 47.5% 16.2 42.1% 14.4 37.4%
Corporate 10.1 25.4% 9.6 24.4% 9.9 25.8% 10.9 28.4%
Certificate of Deposit 4.3 11.0% 5.1 13.1% 6.1 15.8% 7.0 18.2%
Asset-Backed 2.6 6.5% 2.3 5.9% 0.9 2.4% 0.0 0.0%
Supra-Sov / Supra-Natl Agency 1.6 4.0% 1.6 4.1% 3.0 7.9% 2.7 6.9%
Federal Agency/GSE 1.2 3.0% 1.2 3.1% 1.5 3.9% 2.5 6.5%
Federal Agency/CMO 0.6 1.6% 0.7 1.8% 0.6 1.5% 0.7 1.7%
Mny Mkt Fund / Pool 0.1 0.3% 0.1 0.1% 0.0 0.0% 0.1 0.3%
Municipal 0.0 0.0% 0.0 0.0% 0.2 0.6% 0.2 0.6%
$39.6 100.0%$39.1 100.0%$38.5 100.0%$38.4 100.0%Total
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
March 2019 December 2018 September 2018 June 2018
Municipal
Mny Mkt Fund / Pool
Federal Agency/CMO
Federal Agency/GSE
Supra-Sov / Supra-Natl
Agency
Asset-Backed
Certificate of Deposit
Corporate
U.S. Treasury
PFM Asset Management LLC
Detail may not add to total due to rounding.
10
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Composition
Maturity Distribution
As of March 31, 2019
>5
Years
4-5
Years
3-4
Years
2-3
Years
1-2
Years
0-1
Years
Yield
at MarketPortfolio/Benchmark
Average
Maturity
2.43% 9.7% 16.0% 17.7% 43.3% 13.2% 0.0%2.82 yrsCITY OF LAKE ELSINORE
ICE BofAML 1-5 Year U.S. Treasury Index 2.29% 1.7% 32.1% 27.7% 19.5% 19.0% 0.0%2.75 yrs
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
0-1 Years 1-2 Years 2-3 Years 3-4 Years 4-5 Years > 5 Years
9.7%
16.0%17.7%
43.3%
13.2%
0.0%1.7%
32.1%
27.7%
19.5%19.0%
0.0%
CITY OF LAKE ELSINORE ICE BofAML 1-5 Year U.S. Treasury Index
PFM Asset Management LLC 11
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Performance
Portfolio Performance (Total Return)
Effective
DurationPortfolio/Benchmark
Annualized Return
10 Year1 Year 3 Year 5 Year Since Inception
(09/30/10)
Current
Quarter
2.55 1.44%-3.56%1.34%1.54%1.51%CITY OF LAKE ELSINORE
ICE BofAML 1-5 Year U.S. Treasury Index 2.56 1.22%-3.14%0.97%1.29%1.18%
Difference 0.42% 0.22%0.37%0.25%-0.33%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
Current Quarter 1 Year 3 Year 5 Year 10 Year Since Inception
1.44%
3.56%
1.34%
1.54%1.51%
1.22%
3.14%
0.97%
1.29%1.18%To
t
a
l
R
e
t
u
r
n
CITY OF LAKE ELSINORE ICE BofAML 1-5 Year U.S. Treasury Index
PFM Asset Management LLC
Portfolio performance is gross of fees unless otherwise indicated.
12
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Performance
Portfolio Earnings
Quarter-Ended March 31, 2019
Market Value Basis Accrual (Amortized Cost) Basis
Net Purchases/Sales
Change in Value
Interest Earned
$39,070,242.17
$169,923.58
$344,235.66
$222,115.86
$566,351.52
$39,584,401.41
$39,383,260.83
$169,923.58
($182,087.99)
$222,115.86
$40,027.87
$39,371,096.42
Portfolio Earnings
Beginning Value (12/31/2018)
Ending Value (03/31/2019)
PFM Asset Management LLC 13
PFM Asset ManagementLLC
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Investment Strategy Outlook
Outlook
Given the flat yield curve, we continue to recommend strategies that maintain diversification among investment grade sectors with
a tilt toward higher grade corporate bonds given their income-producing potential.
As a result of the outlook for slower global economic growth, with the Fed on hold, and the market’s current outlook for lower
future interest rates, we will maintain a neutral duration posture in portfolios relative to benchmarks.
Our outlook for each of the major investment-grade fixed income sectors are as follows:
•Federal agency spreads remain very tight and we expect them to remain so. We prefer to seek better value in either
Treasuries or other sectors. Given the flat yield curve, we will also evaluate callable agencies for their incremental yield.
•In supranationals, we continue to wait for expected supply to drive spreads wider. Until then, we will generally remain on
the sidelines.
•In the corporate sector, yield spreads have narrowed back significantly, settling in around longer-term, post-recession
historical averages. While the sector is no longer “cheap,” we plan to maintain allocations to the sector. Although the
Treasury yield curve is flat, the corporate spread curve remains positively sloped, offering value for extending maturities.
But, given international growth concerns, we remain diligent in our issuer and security selection process.
•Allocations to AAA-rated ABS will be maintained. The sector continues to offer attractive incremental income compared to
government security alternatives and continues to offer a defensive outlet to credit exposure.
•Agency MBS continues to be an alternative to other government sectors for its incremental income potential. Our analysis
focuses on the expected performance of various structures and collateral types to identify value. In addition, The Fed’s
planned end of its balance sheet reduction measures should benefit the MBS sector later in the year.
•Money market investors continue to reap the rewards of short-term rates above 2.25%. Short-term, high quality credit in the
form of commercial paper and negotiable bank certificates of deposit continue to offer good income potential, especially in
light of the partially inverted Treasury yield curve.
14
Is
s
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i
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CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Composition
Issuer Distribution
As of March 31, 2019
Market Value ($)% of PortfolioIssuer
UNITED STATES TREASURY 19,054,965 48.1%
FANNIE MAE 920,731 2.3%
SWEDBANK AB 793,742 2.0%
NORDEA BANK AB 776,718 2.0%
WESTPAC BANKING CORP 735,849 1.9%
INTL BANK OF RECONSTRUCTION AND DEV 724,696 1.8%
CARMAX AUTO OWNER TRUST 709,533 1.8%
ROYAL BANK OF CANADA 683,908 1.7%
JP MORGAN CHASE & CO 679,062 1.7%
BANK OF MONTREAL 673,183 1.7%
GM FINANCIAL SECURITIZED TERM 574,523 1.5%
CITIGROUP INC 553,942 1.4%
TOYOTA MOTOR CORP 547,461 1.4%
FEDERAL HOME LOAN BANKS 511,173 1.3%
WELLS FARGO & COMPANY 497,744 1.3%
INTER-AMERICAN DEVELOPMENT BANK 472,327 1.2%
AMERICAN EXPRESS CO 437,584 1.1%
FREDDIE MAC 413,599 1.0%
To
p
5
=
5
6
.
3
%
To
p
1
0
=
6
5
.
1
%
PFM Asset Management LLC 15
For the Quarter Ended March 31, 2019
Portfolio Composition
Market Value ($)% of Portfolio
CITY OF LAKE ELSINORE
Issuer
PNC FINANCIAL SERVICES GROUP 409,532 1.0%
NATIONAL RURAL UTILITIES CO FINANCE CORP 402,050 1.0%
INTERNATIONAL FINANCE CORPORATION 399,917 1.0%
GOLDMAN SACHS GROUP INC 399,806 1.0%
THE BANK OF NEW YORK MELLON CORPORATION 399,028 1.0%
BANK OF AMERICA CO 398,656 1.0%
MICROSOFT CORP 397,632 1.0%
MORGAN STANLEY 397,398 1.0%
THE WALT DISNEY CORPORATION 396,659 1.0%
BANK OF NOVA SCOTIA 382,660 1.0%
AMERICAN HONDA FINANCE 381,579 1.0%
HONDA AUTO RECEIVABLES 379,156 1.0%
WAL-MART STORES INC 371,759 0.9%
DEERE & COMPANY 349,665 0.9%
PACCAR FINANCIAL CORP 339,340 0.9%
VOLKSWAGEN OF AMERICA 328,771 0.8%
BB&T CORPORATION 321,102 0.8%
BMW FINANCIAL SERVICES NA LLC 303,923 0.8%
CATERPILLAR INC 301,575 0.8%
UNILEVER PLC 301,059 0.8%
UBS AG 300,966 0.8%
PFM Asset Management LLC 16
For the Quarter Ended March 31, 2019
Portfolio Composition
Market Value ($)% of Portfolio
CITY OF LAKE ELSINORE
Issuer
IBM CORP 299,612 0.8%
PEPSICO INC 277,603 0.7%
GM FINANCIAL AUTO LEASING TRUST 276,813 0.7%
GENERAL ELECTRIC CO 255,422 0.7%
CHARLES SCHWAB 237,948 0.6%
APPLE INC 198,558 0.5%
HOME DEPOT INC 198,526 0.5%
HERSHEY COMPANY 176,745 0.5%
STATE STREET CORPORATION 123,345 0.3%
CAMP POOL 116,856 0.3%
39,584,401 100.0%Grand Total:
PFM Asset Management LLC 17
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s
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Activity
Quarterly Portfolio Transactions
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
1/1/191/1/19 2,970.78 3136AQSW1FNMA SERIES 2015-M15 ASQ2MATURITY 1/1/19 2,970.78 0.00 1.89%
1/1/191/1/19 594.153136AQSW1FNMA SERIES 2015-M15 ASQ2MATURITY 1/1/19 594.15 0.00 1.89%
1/1/191/1/19 594.153136AQSW1FNMA SERIES 2015-M15 ASQ2MATURITY 1/1/19 594.15 0.00 1.89%
1/1/191/25/19 33,775.173136B1XP4FNA 2018-M5 A2INTEREST 9/25/21 106.61 3.56%
1/1/191/25/19 2,970.773136AQSW1FNMA SERIES 2015-M15 ASQ2INTEREST 1/1/19 4.70 1.89%
1/1/191/25/19 17,742.453136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2INTEREST 9/1/19 24.34 1.64%
1/1/191/25/19 35,000.003137BM6P6FHLMC SERIES K721 A2INTEREST 8/25/22 90.13 3.09%
1/1/191/25/19 3,012.873136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2INTEREST 9/1/19 4.13 1.64%
1/1/191/25/19 3,012.873136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2INTEREST 9/1/19 4.13 1.64%
1/1/191/25/19 33,775.173136B1XP4FNA 2018-M5 A2INTEREST 9/25/21 106.61 3.56%
1/1/191/25/19 594.153136AQSW1FNMA SERIES 2015-M15 ASQ2INTEREST 1/1/19 0.94 1.89%
1/1/191/25/19 35,000.003137BM6P6FHLMC SERIES K721 A2INTEREST 8/25/22 90.13 3.09%
1/1/191/25/19 168,875.843136B1XP4FNA 2018-M5 A2INTEREST 9/25/21 533.04 3.56%
1/1/191/25/19 594.153136AQSW1FNMA SERIES 2015-M15 ASQ2INTEREST 1/1/19 0.94 1.89%
1/1/191/25/19 200,000.003137FKK39FHMS KP05 AINTEREST 7/1/23 533.83 3.20%
1/1/191/25/19 160,000.003137BM6P6FHLMC SERIES K721 A2INTEREST 8/25/22 412.00 3.09%
1/1/191/25/19 34.623136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2PAYDOWNS 9/1/19 34.62 0.00 1.64%
1/1/191/25/19 1,930.923136B1XP4FNA 2018-M5 A2PAYDOWNS 9/25/21 1,930.92 0.00 3.56%
1/1/191/25/19 1,930.923136B1XP4FNA 2018-M5 A2PAYDOWNS 9/25/21 1,930.92 0.00 3.56%
1/1/191/25/19 5.883136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2PAYDOWNS 9/1/19 5.88 0.00 1.64%
PFM Asset Management LLC 18
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
1/1/191/25/19 321.133137FKK39FHMS KP05 APAYDOWNS 7/1/23 321.13 0.00 3.20%
1/1/191/25/19 5.883136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2PAYDOWNS 9/1/19 5.88 0.00 1.64%
1/1/191/25/19 9,654.623136B1XP4FNA 2018-M5 A2PAYDOWNS 9/25/21 9,654.62 0.00 3.56%
1/6/191/6/19 275,000.0024422ETL3JOHN DEERE CAPITAL CORP NOTESINTEREST 1/6/22 3,643.75 2.65%
1/6/191/6/19 50,000.0024422ETL3JOHN DEERE CAPITAL CORP NOTESINTEREST 1/6/22 662.50 2.65%
1/7/191/10/19 4,350,000.00912828N30US TREASURY NOTESBUY 12/31/22 (4,289,852.35) 2.51%2.12%
1/7/191/10/19 325,000.00912828D72US TREASURY NOTESSELL 8/31/21 323,117.24 2.52%(10,899.76)2.00%
1/7/191/10/19 1,400,000.00912828D72US TREASURY NOTESSELL 8/31/21 1,391,889.64 2.52%(28,094.27)2.00%
1/7/191/10/19 800,000.00912828D72US TREASURY NOTESSELL 8/31/21 795,365.50 2.52%(14,234.73)2.00%
1/7/191/10/19 50,000.00912828D72US TREASURY NOTESSELL 8/31/21 49,710.36 2.52%(1,003.36)2.00%
1/7/191/10/19 225,000.00912828D72US TREASURY NOTESSELL 8/31/21 223,696.54 2.52%(4,003.52)2.00%
1/7/191/10/19 1,025,000.00912828D72US TREASURY NOTESSELL 8/31/21 1,019,062.05 2.52%(15,147.61)2.00%
1/7/191/10/19 125,000.00912828D72US TREASURY NOTESSELL 8/31/21 124,275.86 2.52%(1,847.26)2.00%
1/7/191/10/19 125,000.00912828D72US TREASURY NOTESSELL 8/31/21 124,275.86 2.52%(4,192.21)2.00%
1/7/191/10/19 225,000.00912828D72US TREASURY NOTESSELL 8/31/21 223,696.54 2.52%(4,515.16)2.00%
1/8/191/8/19 250,000.0036962G4J0GENERAL ELECTRIC CAP CORP NOTESINTEREST 1/8/20 6,875.00 5.50%
1/8/191/16/19 270,000.0036256XAD4GMCAR 2019-1 A3BUY 11/16/23 (269,970.11) 2.97%2.97%
1/8/191/16/19 175,000.00912828Q78US TREASURY NOTESSELL 4/30/21 170,842.89 2.58%(2,750.56)1.37%
1/8/191/16/19 70,000.00912828Q78US TREASURY NOTESSELL 4/30/21 68,337.15 2.58%(1,118.40)1.37%
1/10/191/10/19 50,000.00172967LF6CITIGROUP INC (CALLABLE) CORP NOTEINTEREST 1/10/20 612.50 2.45%
1/10/191/10/19 300,000.00172967LF6CITIGROUP INC (CALLABLE) CORP NOTEINTEREST 1/10/20 3,675.00 2.45%
1/10/191/10/19 50,000.00172967LF6CITIGROUP INC (CALLABLE) CORP NOTEINTEREST 1/10/20 612.50 2.45%
PFM Asset Management LLC 19
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
1/14/191/14/19 400,000.003130A8QS5FHLB GLOBAL NOTEINTEREST 7/14/21 2,250.00 1.12%
1/14/191/14/19 125,000.003130A8QS5FHLB GLOBAL NOTEINTEREST 7/14/21 703.13 1.12%
1/15/191/15/19 350,000.0014313FAD1CARMAX AUTO OWNER TRUSTINTEREST 6/15/23 912.92 3.13%
1/15/191/15/19 350,000.0014315EAC4CARMAX AUTO OWNER TRUSTINTEREST 9/15/23 980.00 3.36%
1/15/191/15/19 375,000.0043815AAC6HAROT 2018-4 A3INTEREST 1/15/23 987.50 3.16%
1/16/191/16/19 300,000.0036255JAD6GMCAR 2018-3 A3INTEREST 5/16/23 755.00 3.02%
1/20/191/20/19 275,000.0036256GAE9GMALT 2018-3 A4INTEREST 7/20/22 756.25 3.30%
1/20/191/20/19 325,000.0092869BAD4VALET 2018-2 A3INTEREST 4/20/23 880.21 3.25%
1/20/191/20/19 300,000.0005586CAD6BMWLT 2018-1 A4INTEREST 3/20/22 840.00 3.36%
1/23/191/23/19 400,000.00459058GH0 INTL BANK OF RECONSTRUCTION AND DEV
NOTE
INTEREST 7/23/21 5,440.00 2.75%
1/30/191/30/19 375,000.0094974BGF1WELLS FARGO & CO CORP BONDSINTEREST 1/30/20 4,031.25 2.15%
1/30/191/30/19 75,000.0094974BGF1WELLS FARGO & CO CORP BONDSINTEREST 1/30/20 806.25 2.15%
1/30/191/31/19 3,175,000.00912828N30US TREASURY NOTESBUY 12/31/22 (3,130,424.19) 2.55%2.12%
1/30/191/31/19 425,000.00912828WN6US TREASURY NOTESSELL 5/31/21 420,886.28 2.58%(13,173.71)2.00%
1/30/191/31/19 150,000.00912828D72US TREASURY NOTESSELL 8/31/21 149,111.71 2.58%(2,730.74)2.00%
1/30/191/31/19 100,000.00912828D72US TREASURY NOTESSELL 8/31/21 99,407.80 2.58%(1,820.50)2.00%
1/30/191/31/19 55,000.00912828Q37US TREASURY NOTESSELL 3/31/21 53,732.70 2.55%(1,822.21)1.25%
1/30/191/31/19 175,000.00912828WN6US TREASURY NOTESSELL 5/31/21 173,306.12 2.58%(5,424.47)2.00%
1/30/191/31/19 450,000.00912828R77US TREASURY NOTESSELL 5/31/21 438,889.86 2.58%(5,571.11)1.37%
1/30/191/31/19 25,000.00912828B90US TREASURY NOTESSELL 2/28/21 24,916.41 2.59%(848.00)2.00%
1/30/191/31/19 115,000.00912828Q37US TREASURY NOTESSELL 3/31/21 112,350.20 2.55%(3,810.08)1.25%
1/30/191/31/19 1,150,000.00912828D72US TREASURY NOTESSELL 8/31/21 1,143,189.74 2.58%(20,935.69)2.00%
PFM Asset Management LLC 20
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
1/30/191/31/19 100,000.00912828WN6US TREASURY NOTESSELL 5/31/21 99,032.06 2.58%(3,099.69)2.00%
1/30/191/31/19 150,000.00912828B90US TREASURY NOTESSELL 2/28/21 149,498.42 2.59%(5,087.98)2.00%
1/30/191/31/19 200,000.00912828D72US TREASURY NOTESSELL 8/31/21 198,815.61 2.58%(4,241.29)2.00%
1/30/191/31/19 80,000.00912828R77US TREASURY NOTESSELL 5/31/21 78,024.86 2.58%(990.42)1.37%
2/1/192/1/19 25,000.0005531FAZ6BRANCH BANKING & TRUST (CALLABLE) NOTESINTEREST 2/1/21 268.75 2.15%
2/1/192/1/19 75,000.0005531FAZ6BRANCH BANKING & TRUST (CALLABLE) NOTESINTEREST 2/1/21 806.25 2.15%
2/1/192/1/19 25,000.0005531FAZ6BRANCH BANKING & TRUST (CALLABLE) NOTESINTEREST 2/1/21 268.75 2.15%
2/1/192/25/19 31,844.243136B1XP4FNA 2018-M5 A2INTEREST 9/25/21 96.17 3.56%
2/1/192/25/19 35,000.003137BM6P6FHLMC SERIES K721 A2INTEREST 8/25/22 90.13 3.09%
2/1/192/25/19 199,678.873137FKK39FHMS KP05 AINTEREST 7/1/23 532.98 3.20%
2/1/192/25/19 159,221.223136B1XP4FNA 2018-M5 A2INTEREST 9/25/21 480.89 3.56%
2/1/192/25/19 35,000.003137BM6P6FHLMC SERIES K721 A2INTEREST 8/25/22 90.13 3.09%
2/1/192/25/19 3,006.993136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2INTEREST 9/1/19 4.12 1.64%
2/1/192/25/19 31,844.253136B1XP4FNA 2018-M5 A2INTEREST 9/25/21 96.18 3.56%
2/1/192/25/19 160,000.003137BM6P6FHLMC SERIES K721 A2INTEREST 8/25/22 412.00 3.09%
2/1/192/25/19 17,707.833136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2INTEREST 9/1/19 24.29 1.64%
2/1/192/25/19 3,006.993136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2INTEREST 9/1/19 4.12 1.64%
2/1/192/25/19 3,848.313136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2PAYDOWNS 9/1/19 3,848.31 0.00 1.64%
2/1/192/25/19 529.173136B1XP4FNA 2018-M5 A2PAYDOWNS 9/25/21 529.17 0.00 3.56%
2/1/192/25/19 529.173136B1XP4FNA 2018-M5 A2PAYDOWNS 9/25/21 529.17 0.00 3.56%
2/1/192/25/19 653.493136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2PAYDOWNS 9/1/19 653.49 0.00 1.64%
2/1/192/25/19 322.783137FKK39FHMS KP05 APAYDOWNS 7/1/23 322.78 0.00 3.20%
PFM Asset Management LLC 21
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
2/1/192/25/19 653.493136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2PAYDOWNS 9/1/19 653.49 0.00 1.64%
2/1/192/25/19 2,645.833136B1XP4FNA 2018-M5 A2PAYDOWNS 9/25/21 2,645.83 0.00 3.56%
2/4/192/4/19 600,000.0083050FXT3SKANDINAVISKA ENSKILDA BANKEN NY CDINTEREST 8/2/19 5,704.00 1.84%
2/4/192/4/19 100,000.0083050FXT3SKANDINAVISKA ENSKILDA BANKEN NY CDINTEREST 8/2/19 950.66 1.84%
2/4/192/4/19 100,000.0083050FXT3SKANDINAVISKA ENSKILDA BANKEN NY CDINTEREST 8/2/19 950.67 1.84%
2/5/192/5/19 300,000.0044932HAG8IBM CORP CORP NOTESINTEREST 2/5/21 3,975.00 2.65%
2/6/192/6/19 300,000.00594918BV5MICROSOFT CORP NOTESINTEREST 2/6/20 2,775.00 1.85%
2/6/192/6/19 50,000.00594918BV5MICROSOFT CORP NOTESINTEREST 2/6/20 462.50 1.85%
2/6/192/6/19 50,000.00594918BV5MICROSOFT CORP NOTESINTEREST 2/6/20 462.50 1.85%
2/7/192/7/19 540,000.0096121T4A3WESTPAC BANKING CORP NY CDINTEREST 8/3/20 5,535.00 2.05%
2/7/192/7/19 100,000.0096121T4A3WESTPAC BANKING CORP NY CDINTEREST 8/3/20 1,025.00 2.05%
2/7/192/7/19 100,000.0096121T4A3WESTPAC BANKING CORP NY CDINTEREST 8/3/20 1,025.00 2.05%
2/7/192/11/19 100,000.0083050FXT3SKANDINAVISKA ENSKILDA BANKEN NY CDSELL 8/2/19 99,654.00 2.60%(382.79)1.84%
2/7/192/11/19 100,000.0083050FXT3SKANDINAVISKA ENSKILDA BANKEN NY CDSELL 8/2/19 99,654.00 2.60%(382.79)1.84%
2/7/192/11/19 600,000.0083050FXT3SKANDINAVISKA ENSKILDA BANKEN NY CDSELL 8/2/19 597,924.00 2.60%(2,296.72)1.84%
2/12/192/15/19 400,000.00693475AV7PNC BANK NA CORP NOTESBUY 1/23/24 (403,703.56) 3.34%3.50%
2/15/192/15/19 350,000.0014313FAD1CARMAX AUTO OWNER TRUSTINTEREST 6/15/23 912.92 3.13%
2/15/192/15/19 1,000,000.00912828TJ9US TREASURY NOTESINTEREST 8/15/22 8,125.00 1.62%
2/15/192/15/19 350,000.0014315EAC4CARMAX AUTO OWNER TRUSTINTEREST 9/15/23 980.00 3.36%
2/15/192/15/19 375,000.0043815AAC6HAROT 2018-4 A3INTEREST 1/15/23 987.50 3.16%
2/16/192/16/19 300,000.0036255JAD6GMCAR 2018-3 A3INTEREST 5/16/23 755.00 3.02%
2/16/192/16/19 270,000.0036256XAD4GMCAR 2019-1 A3INTEREST 11/16/23 735.08 2.97%
PFM Asset Management LLC 22
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
2/17/192/17/19 80,000.003135G0N82FNMA NOTESINTEREST 8/17/21 500.00 1.25%
2/17/192/17/19 140,000.003135G0N82FNMA NOTESINTEREST 8/17/21 875.00 1.25%
2/17/192/17/19 460,000.003135G0N82FNMA NOTESINTEREST 8/17/21 2,875.00 1.25%
2/17/192/17/19 25,000.003135G0N82FNMA NOTESINTEREST 8/17/21 156.25 1.25%
2/20/192/20/19 275,000.0036256GAE9GMALT 2018-3 A4INTEREST 7/20/22 756.25 3.30%
2/20/192/20/19 325,000.0092869BAD4VALET 2018-2 A3INTEREST 4/20/23 880.21 3.25%
2/20/192/20/19 100,000.0065590ASN7NORDEA BANK AB NY CDINTEREST 2/20/20 1,360.00 2.72%
2/20/192/20/19 100,000.0065590ASN7NORDEA BANK AB NY CDINTEREST 2/20/20 1,360.00 2.72%
2/20/192/20/19 575,000.0065590ASN7NORDEA BANK AB NY CDINTEREST 2/20/20 7,820.00 2.72%
2/20/192/20/19 300,000.0005586CAD6BMWLT 2018-1 A4INTEREST 3/20/22 840.00 3.36%
3/1/193/25/19 199,356.093137FKK39FHMS KP05 AINTEREST 7/1/23 532.11 3.20%
3/1/193/25/19 13,859.523136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2INTEREST 9/1/19 19.01 1.64%
3/1/193/25/19 35,000.003137BM6P6FHLMC SERIES K721 A2INTEREST 8/25/22 90.13 3.09%
3/1/193/25/19 2,353.503136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2INTEREST 9/1/19 3.23 1.64%
3/1/193/25/19 35,000.003137BM6P6FHLMC SERIES K721 A2INTEREST 8/25/22 90.13 3.09%
3/1/193/25/19 31,315.083136B1XP4FNA 2018-M5 A2INTEREST 9/25/21 94.77 3.56%
3/1/193/25/19 2,353.503136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2INTEREST 9/1/19 3.23 1.64%
3/1/193/25/19 160,000.003137BM6P6FHLMC SERIES K721 A2INTEREST 8/25/22 412.00 3.09%
3/1/193/25/19 31,315.083136B1XP4FNA 2018-M5 A2INTEREST 9/25/21 94.76 3.56%
3/1/193/25/19 156,575.393136B1XP4FNA 2018-M5 A2INTEREST 9/25/21 473.81 3.56%
3/1/193/25/19 390.963136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2PAYDOWNS 9/1/19 390.96 0.00 1.64%
3/1/193/25/19 3,120.673136B1XP4FNA 2018-M5 A2PAYDOWNS 9/25/21 3,120.67 0.00 3.56%
PFM Asset Management LLC 23
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
3/1/193/25/19 2,302.333136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2PAYDOWNS 9/1/19 2,302.33 0.00 1.64%
3/1/193/25/19 20,768.353137FKK39FHMS KP05 APAYDOWNS 7/1/23 20,768.35 0.00 3.20%
3/1/193/25/19 390.963136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2PAYDOWNS 9/1/19 390.96 0.00 1.64%
3/1/193/25/19 624.153136B1XP4FNA 2018-M5 A2PAYDOWNS 9/25/21 624.15 0.00 3.56%
3/1/193/25/19 624.153136B1XP4FNA 2018-M5 A2PAYDOWNS 9/25/21 624.15 0.00 3.56%
3/3/193/3/19 30,000.000258M0EE5AMERICAN EXPRESS CREDIT (CALLABLE) NOTEINTEREST 3/3/20 330.00 2.20%
3/3/193/3/19 30,000.000258M0EE5AMERICAN EXPRESS CREDIT (CALLABLE) NOTEINTEREST 3/3/20 330.00 2.20%
3/3/193/3/19 180,000.000258M0EE5AMERICAN EXPRESS CREDIT (CALLABLE) NOTEINTEREST 3/3/20 1,980.00 2.20%
3/4/193/4/19 300,000.0090275DHG8UBS AG STAMFORD CT LT CDINTEREST 3/2/20 4,374.17 2.90%
3/4/193/4/19 125,000.0025468PDP8WALT DISNEY COMPANY CORP NOTESINTEREST 3/4/20 1,218.75 1.95%
3/4/193/4/19 225,000.0014913Q2A6CATERPILLAR FINL SERVICE NOTEINTEREST 9/4/20 2,081.25 1.85%
3/4/193/4/19 40,000.0014913Q2A6CATERPILLAR FINL SERVICE NOTEINTEREST 9/4/20 370.00 1.85%
3/4/193/4/19 40,000.0014913Q2A6CATERPILLAR FINL SERVICE NOTEINTEREST 9/4/20 370.00 1.85%
3/4/193/4/19 25,000.0025468PDP8WALT DISNEY COMPANY CORP NOTESINTEREST 3/4/20 243.75 1.95%
3/4/193/6/19 2,400,000.00912828R69US TREASURY N/B NOTESBUY 5/31/23 (2,323,191.96) 2.53%1.62%
3/4/193/6/19 1,100,000.00912828T67US TREASURY NOTESSELL 10/31/21 1,068,907.00 2.53%(24,697.23)1.25%
3/4/193/6/19 250,000.00912828T67US TREASURY NOTESSELL 10/31/21 242,933.41 2.53%(5,613.01)1.25%
3/4/193/6/19 490,000.00912828T67US TREASURY NOTESSELL 10/31/21 476,149.48 2.53%(8,470.06)1.25%
3/4/193/6/19 60,000.00912828T67US TREASURY NOTESSELL 10/31/21 58,304.02 2.53%(1,347.12)1.25%
3/9/193/9/19 50,000.0045950VLQ7INTERNATIONAL FINANCE CORPORATION NOTEINTEREST 3/9/21 659.00 2.63%
3/9/193/9/19 50,000.0045950VLQ7INTERNATIONAL FINANCE CORPORATION NOTEINTEREST 3/9/21 659.00 2.63%
3/9/193/9/19 300,000.0045950VLQ7INTERNATIONAL FINANCE CORPORATION NOTEINTEREST 3/9/21 3,954.00 2.63%
PFM Asset Management LLC 24
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
3/12/193/12/19 200,000.0089236TCF0TOYOTA MOTOR CORP NOTESINTEREST 3/12/20 2,150.00 2.15%
3/12/193/12/19 50,000.0045905UP32 INTL BANK OF RECONSTRUCTION AND DEV
NOTE
INTEREST 9/12/20 390.50 1.56%
3/12/193/12/19 125,000.0045905UP32 INTL BANK OF RECONSTRUCTION AND DEV
NOTE
INTEREST 9/12/20 976.25 1.56%
3/12/193/12/19 150,000.0045905UP32 INTL BANK OF RECONSTRUCTION AND DEV
NOTE
INTEREST 9/12/20 1,171.50 1.56%
3/15/193/15/19 350,000.0014313FAD1CARMAX AUTO OWNER TRUSTINTEREST 6/15/23 912.92 3.13%
3/15/193/15/19 25,000.0063743HER9NATIONAL RURAL UTIL COOP NOTEINTEREST 3/15/21 362.50 2.90%
3/15/193/15/19 25,000.0063743HER9NATIONAL RURAL UTIL COOP NOTEINTEREST 3/15/21 362.50 2.90%
3/15/193/15/19 350,000.0014315EAC4CARMAX AUTO OWNER TRUSTINTEREST 9/15/23 980.00 3.36%
3/15/193/15/19 125,000.0063743HER9NATIONAL RURAL UTIL COOP NOTEINTEREST 3/15/21 1,812.50 2.90%
3/15/193/15/19 25,000.0063743HER9NATIONAL RURAL UTIL COOP NOTEINTEREST 3/15/21 362.50 2.90%
3/15/193/15/19 375,000.0043815AAC6HAROT 2018-4 A3INTEREST 1/15/23 987.50 3.16%
3/15/193/15/19 25,000.0063743HER9NATIONAL RURAL UTIL COOP NOTEINTEREST 3/15/21 362.50 2.90%
3/15/193/15/19 175,000.0063743HER9NATIONAL RURAL UTIL COOP NOTEINTEREST 3/15/21 2,537.50 2.90%
3/15/193/22/19 675,000.0046647PBB1JPMORGAN CHASE & CO BONDSBUY 4/1/23 (675,000.00) 3.21%3.20%
3/15/193/22/19 100,000.0046625HLW8JP MORGAN CHASE & CO CORP NT (CALLABLE)SELL 6/23/20 100,598.86 2.81%(211.33)2.75%
3/15/193/22/19 575,000.0046625HLW8JP MORGAN CHASE & CO CORP NT (CALLABLE)SELL 6/23/20 578,443.45 2.81%(1,215.17)2.75%
3/16/193/16/19 300,000.0036255JAD6GMCAR 2018-3 A3INTEREST 5/16/23 755.00 3.02%
3/16/193/16/19 270,000.0036256XAD4GMCAR 2019-1 A3INTEREST 11/16/23 668.25 2.97%
3/20/193/20/19 275,000.0036256GAE9GMALT 2018-3 A4INTEREST 7/20/22 756.25 3.30%
3/20/193/20/19 325,000.0092869BAD4VALET 2018-2 A3INTEREST 4/20/23 880.21 3.25%
3/20/193/20/19 300,000.0005586CAD6BMWLT 2018-1 A4INTEREST 3/20/22 840.00 3.36%
PFM Asset Management LLC 25
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
3/22/193/22/19 300,000.00904764AZ0UNILEVER CAPITAL CORP NOTESINTEREST 3/22/21 4,125.00 2.75%
TOTALS 74,374.38 (201,978.95)
PFM Asset Management LLC 26
Po
r
t
f
o
l
i
o
H
o
l
d
i
n
g
s
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
U.S. Treasury Bond / Note
AA+Aaa 5/27/2016 5/31/2016 15,268.94 65.99 15,104.58 14,852.341.35US TREASURY NOTES
DTD 12/31/2015 1.750% 12/31/2020
912828N48 15,000.00
AA+Aaa 3/30/20163/31/2016 10,502.34 59.70 10,188.47 10,008.201.28US TREASURY NOTES
DTD 12/31/2013 2.375% 12/31/2020
912828A83 10,000.00
AA+Aaa 2/1/20172/3/2017 49,001.95 288.67 49,500.54 49,085.951.87US TREASURY NOTES
DTD 05/02/2016 1.375% 04/30/2021
912828Q78 50,000.00
AA+Aaa 10/5/201710/10/2017 126,988.67 682.32 128,059.52 126,724.651.85US TREASURY NOTES
DTD 10/31/2016 1.250% 10/31/2021
912828T67 130,000.00
AA+Aaa 10/5/201710/10/2017 229,556.44 1,233.43 231,492.20 229,079.181.85US TREASURY NOTES
DTD 10/31/2016 1.250% 10/31/2021
912828T67 235,000.00
AA+Aaa 10/5/201710/10/2017 126,988.67 682.32 128,059.52 126,724.651.85US TREASURY NOTES
DTD 10/31/2016 1.250% 10/31/2021
912828T67 130,000.00
AA+Aaa 7/3/20187/6/2018 1,552,750.00 12,596.69 1,561,533.15 1,582,750.402.69US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 1,600,000.00
AA+Aaa 10/2/201810/3/2018 265,353.52 2,165.06 266,635.89 272,035.232.91US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 275,000.00
AA+Aaa 12/4/201712/6/2017 64,324.61 511.74 64,521.14 64,299.242.12US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 65,000.00
AA+Aaa 1/3/20181/4/2018 113,540.04 905.39 113,946.34 113,760.192.18US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 115,000.00
AA+Aaa 5/3/20185/7/2018 174,248.44 1,417.13 175,497.18 178,059.422.73US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 180,000.00
AA+Aaa 12/4/201712/6/2017 74,220.70 590.47 74,447.46 74,191.432.12US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 75,000.00
AA+Aaa 1/3/20181/4/2018 913,256.84 7,282.46 916,524.89 915,027.582.18US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 925,000.00
AA+Aaa 12/4/201712/6/2017 445,324.22 3,542.82 446,684.78 445,148.552.12US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 450,000.00
AA+Aaa 5/3/20185/7/2018 1,210,058.59 9,841.16 1,218,730.44 1,236,523.752.73US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 1,250,000.00
PFM Asset Management LLC 27
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
U.S. Treasury Bond / Note
AA+Aaa 5/3/2018 5/7/2018 242,011.72 1,968.23 243,746.09 247,304.752.73US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 250,000.00
AA+Aaa 1/3/20181/4/2018 113,540.04 905.39 113,946.34 113,760.192.18US TREASURY NOTES
DTD 05/01/2017 1.875% 04/30/2022
912828X47 115,000.00
AA+Aaa 9/5/20189/7/2018 958,046.88 2,020.03 963,771.62 980,234.002.76US TREASURY NOTES
DTD 08/15/2012 1.625% 08/15/2022
912828TJ9 1,000,000.00
AA+Aaa 8/1/20188/3/2018 436,464.84 2,403.83 438,389.52 448,154.102.86US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
912828N30 450,000.00
AA+Aaa 12/12/201812/13/2018 1,170,281.25 6,410.22 1,172,386.56 1,195,077.602.78US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
912828N30 1,200,000.00
AA+Aaa 11/2/201811/6/2018 772,718.75 4,273.48 775,227.17 796,718.403.00US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
912828N30 800,000.00
AA+Aaa 1/30/20191/31/2019 3,124,646.48 16,960.38 3,126,696.09 3,161,976.152.55US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
912828N30 3,175,000.00
AA+Aaa 1/7/20191/10/2019 4,287,298.83 23,237.05 4,290,684.88 4,332,156.302.51US TREASURY NOTES
DTD 12/31/2015 2.125% 12/31/2022
912828N30 4,350,000.00
AA+Aaa 3/4/20193/6/2019 2,312,906.25 13,071.43 2,314,310.74 2,341,312.802.53US TREASURY N/B NOTES
DTD 05/31/2016 1.625% 05/31/2023
912828R69 2,400,000.00
2.57 19,054,965.05 18,840,085.11 113,115.39 19,245,000.00 18,789,299.01Security Type Sub-Total
Supra-National Agency Bond / Note
AAAAaa 9/12/20179/19/2017 124,700.00 102.98 124,852.45 123,395.501.64INTL BANK OF RECONSTRUCTION
AND DEV NOTE
DTD 09/19/2017 1.561% 09/12/2020
45905UP32 125,000.00
AAAAaa 9/12/20179/19/2017 49,880.00 41.19 49,940.98 49,358.201.64INTL BANK OF RECONSTRUCTION
AND DEV NOTE
DTD 09/19/2017 1.561% 09/12/2020
45905UP32 50,000.00
AAAAaa 9/12/20179/19/2017 149,640.00 123.58 149,822.94 148,074.601.64INTL BANK OF RECONSTRUCTION
AND DEV NOTE
DTD 09/19/2017 1.561% 09/12/2020
45905UP32 150,000.00
PFM Asset Management LLC 28
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
Supra-National Agency Bond / Note
AAAAaa 3/9/2018 3/16/2018 49,962.50 80.51 49,975.17 49,989.652.66INTERNATIONAL FINANCE
CORPORATION NOTE
DTD 03/16/2018 2.635% 03/09/2021
45950VLQ7 50,000.00
AAAAaa 3/9/20183/16/2018 49,962.50 80.51 49,975.17 49,989.652.66INTERNATIONAL FINANCE
CORPORATION NOTE
DTD 03/16/2018 2.635% 03/09/2021
45950VLQ7 50,000.00
AAAAaa 3/9/20183/16/2018 299,775.00 483.08 299,851.02 299,937.902.66INTERNATIONAL FINANCE
CORPORATION NOTE
DTD 03/16/2018 2.635% 03/09/2021
45950VLQ7 300,000.00
AAAAaa 4/12/20184/19/2018 59,868.00 708.75 59,908.67 60,297.002.70INTER-AMERICAN DEVELOPMENT
BANK NOTE
DTD 04/19/2018 2.625% 04/19/2021
4581X0DB1 60,000.00
AAAAaa 4/12/20184/19/2018 349,230.00 4,134.38 349,467.24 351,732.502.70INTER-AMERICAN DEVELOPMENT
BANK NOTE
DTD 04/19/2018 2.625% 04/19/2021
4581X0DB1 350,000.00
AAAAaa 4/12/20184/19/2018 59,868.00 708.75 59,908.67 60,297.002.70INTER-AMERICAN DEVELOPMENT
BANK NOTE
DTD 04/19/2018 2.625% 04/19/2021
4581X0DB1 60,000.00
AAAAaa 7/18/20187/25/2018 399,064.00 2,077.78 399,270.63 403,867.602.83INTL BANK OF RECONSTRUCTION
AND DEV NOTE
DTD 07/25/2018 2.750% 07/23/2021
459058GH0 400,000.00
2.51 1,596,939.60 1,592,972.94 8,541.51 1,595,000.00 1,591,950.00Security Type Sub-Total
Federal Agency Collateralized Mortgage Obligation
AA+Aaa 10/7/201510/30/2015 1,982.19 2.69 1,962.61 1,955.681.08FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
3136AQDQ0 1,962.54
AA+Aaa 10/7/201510/30/2015 11,672.93 15.85 11,557.63 11,516.801.08FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
3136AQDQ0 11,557.20
AA+Aaa 10/7/201510/30/2015 1,982.19 2.69 1,962.61 1,955.681.08FANNIE MAE SERIES 2015-M13 ASQ2
DTD 10/01/2015 1.646% 09/01/2019
3136AQDQ0 1,962.54
PFM Asset Management LLC 29
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
Federal Agency Collateralized Mortgage Obligation
AA+Aaa 4/11/2018 4/30/2018 156,507.08 455.25 155,683.06 155,389.052.27FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
3136B1XP4 153,454.72
AA+Aaa 4/11/20184/30/2018 31,301.40 91.05 31,136.60 31,077.802.27FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
3136B1XP4 30,690.93
AA+Aaa 4/11/20184/30/2018 31,301.40 91.05 31,136.60 31,077.802.27FNA 2018-M5 A2
DTD 04/01/2018 3.560% 09/25/2021
3136B1XP4 30,690.93
AA+Aaa 4/4/20184/9/2018 35,298.05 90.13 35,220.58 35,508.562.61FHLMC SERIES K721 A2
DTD 12/01/2015 3.090% 08/25/2022
3137BM6P6 35,000.00
AA+Aaa 4/4/20184/9/2018 161,362.50 412.00 161,008.36 162,324.852.61FHLMC SERIES K721 A2
DTD 12/01/2015 3.090% 08/25/2022
3137BM6P6 160,000.00
AA+Aaa 4/4/20184/9/2018 35,298.05 90.13 35,220.58 35,508.562.61FHLMC SERIES K721 A2
DTD 12/01/2015 3.090% 08/25/2022
3137BM6P6 35,000.00
AA+Aaa 12/7/201812/17/2018 178,587.20 476.68 178,587.20 180,257.253.11FHMS KP05 A
DTD 12/01/2018 3.203% 07/01/2023
3137FKK39 178,587.74
2.60 646,572.03 643,475.83 1,727.52 638,906.60 645,292.99Security Type Sub-Total
Federal Agency Bond / Note
AA+Aaa 7/14/20167/15/2016 397,567.60 962.50 398,868.62 389,464.801.25FHLB GLOBAL NOTE
DTD 07/14/2016 1.125% 07/14/2021
3130A8QS5 400,000.00
AA+Aaa 7/14/20167/15/2016 124,239.88 300.78 124,646.44 121,707.751.25FHLB GLOBAL NOTE
DTD 07/14/2016 1.125% 07/14/2021
3130A8QS5 125,000.00
AA+Aaa 8/17/20168/19/2016 79,676.00 122.22 79,843.08 78,043.521.33FNMA NOTES
DTD 08/19/2016 1.250% 08/17/2021
3135G0N82 80,000.00
AA+Aaa 8/17/20168/19/2016 24,914.48 38.19 24,958.59 24,388.601.32FNMA NOTES
DTD 08/19/2016 1.250% 08/17/2021
3135G0N82 25,000.00
AA+Aaa 8/17/20168/19/2016 139,521.06 213.89 139,768.07 136,576.161.32FNMA NOTES
DTD 08/19/2016 1.250% 08/17/2021
3135G0N82 140,000.00
AA+Aaa 8/17/20168/19/2016 458,137.00 702.78 459,097.68 448,750.241.33FNMA NOTES
DTD 08/19/2016 1.250% 08/17/2021
3135G0N82 460,000.00
PFM Asset Management LLC 30
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
1.30 1,198,931.07 1,227,182.48 2,340.36 1,230,000.00 1,224,056.02Security Type Sub-Total
Corporate Note
BBB+A3 4/20/2016 4/25/2016 49,861.00 433.33 49,996.83 49,975.802.10GOLDMAN SACHS GRP INC CORP NT
(CALLABLE)
DTD 04/25/2016 2.000% 04/25/2019
38141GVT8 50,000.00
BBB+A3 4/21/20164/26/2016 249,840.00 2,166.67 249,996.35 249,879.002.02GOLDMAN SACHS GRP INC CORP NT
(CALLABLE)
DTD 04/25/2016 2.000% 04/25/2019
38141GVT8 250,000.00
BBB+A3 4/21/20164/26/2016 49,968.00 433.33 49,999.27 49,975.802.02GOLDMAN SACHS GRP INC CORP NT
(CALLABLE)
DTD 04/25/2016 2.000% 04/25/2019
38141GVT8 50,000.00
BBB+A3 4/21/20164/26/2016 49,968.00 433.33 49,999.27 49,975.802.02GOLDMAN SACHS GRP INC CORP NT
(CALLABLE)
DTD 04/25/2016 2.000% 04/25/2019
38141GVT8 50,000.00
BBB+A3 6/2/20166/9/2016 104,945.40 681.63 104,996.57 104,876.102.07CITIGROUP INC CORP NOTES
DTD 06/09/2016 2.050% 06/07/2019
172967KS9 105,000.00
BBB+A3 6/2/20166/9/2016 24,987.00 162.29 24,999.18 24,970.502.07CITIGROUP INC CORP NOTES
DTD 06/09/2016 2.050% 06/07/2019
172967KS9 25,000.00
BBB+A3 6/2/20166/9/2016 24,987.00 162.29 24,999.18 24,970.502.07CITIGROUP INC CORP NOTES
DTD 06/09/2016 2.050% 06/07/2019
172967KS9 25,000.00
BBB+Baa1 3/20/20153/25/2015 289,082.50 3,170.14 256,539.80 255,422.002.05GENERAL ELECTRIC CAP CORP
NOTES
DTD 01/08/2010 5.500% 01/08/2020
36962G4J0 250,000.00
BBB+A3 1/4/20171/10/2017 49,980.00 275.63 49,994.70 49,890.602.46CITIGROUP INC (CALLABLE) CORP
NOTE
DTD 01/10/2017 2.450% 01/10/2020
172967LF6 50,000.00
BBB+A3 1/4/20171/10/2017 299,880.00 1,653.75 299,968.18 299,343.602.46CITIGROUP INC (CALLABLE) CORP
NOTE
DTD 01/10/2017 2.450% 01/10/2020
172967LF6 300,000.00
PFM Asset Management LLC 31
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
Corporate Note
BBB+A3 1/4/2017 1/10/2017 49,980.00 275.63 49,994.70 49,890.602.46CITIGROUP INC (CALLABLE) CORP
NOTE
DTD 01/10/2017 2.450% 01/10/2020
172967LF6 50,000.00
A-A2 2/2/20152/5/2015 377,621.25 1,366.15 375,454.62 373,255.132.00WELLS FARGO & CO CORP BONDS
DTD 02/02/2015 2.150% 01/30/2020
94974BGF1 375,000.00
A-A2 3/24/20153/27/2015 75,288.00 273.23 75,051.58 74,651.032.07WELLS FARGO & CO CORP BONDS
DTD 02/02/2015 2.150% 01/30/2020
94974BGF1 75,000.00
AAAAaa 1/30/20172/6/2017 299,799.00 847.92 299,942.13 298,224.301.87MICROSOFT CORP NOTES
DTD 02/06/2017 1.850% 02/06/2020
594918BV5 300,000.00
AAAAaa 1/30/20172/6/2017 49,966.50 141.32 49,990.35 49,704.051.87MICROSOFT CORP NOTES
DTD 02/06/2017 1.850% 02/06/2020
594918BV5 50,000.00
AAAAaa 1/30/20172/6/2017 49,966.50 141.32 49,990.35 49,704.051.87MICROSOFT CORP NOTES
DTD 02/06/2017 1.850% 02/06/2020
594918BV5 50,000.00
A-A2 2/28/20173/3/2017 179,812.80 308.00 179,941.14 179,164.442.24AMERICAN EXPRESS CREDIT
(CALLABLE) NOTE
DTD 03/03/2017 2.200% 03/03/2020
0258M0EE5 180,000.00
A-A2 2/28/20173/3/2017 29,968.80 51.33 29,990.19 29,860.742.24AMERICAN EXPRESS CREDIT
(CALLABLE) NOTE
DTD 03/03/2017 2.200% 03/03/2020
0258M0EE5 30,000.00
A-A2 2/28/20173/3/2017 29,968.80 51.33 29,990.19 29,860.742.24AMERICAN EXPRESS CREDIT
(CALLABLE) NOTE
DTD 03/03/2017 2.200% 03/03/2020
0258M0EE5 30,000.00
AA2 3/1/20173/6/2017 124,967.50 182.81 124,989.74 124,160.131.96WALT DISNEY COMPANY CORP
NOTES
DTD 03/06/2017 1.950% 03/04/2020
25468PDP8 125,000.00
AA2 3/1/20173/6/2017 24,993.50 36.56 24,997.95 24,832.031.96WALT DISNEY COMPANY CORP
NOTES
DTD 03/06/2017 1.950% 03/04/2020
25468PDP8 25,000.00
AA-Aa3 3/23/20153/27/2015 201,776.00 226.94 200,352.76 199,109.001.96TOYOTA MOTOR CORP NOTES
DTD 03/12/2015 2.150% 03/12/2020
89236TCF0 200,000.00
AA-Aa3 4/11/20174/17/2017 74,965.50 666.25 74,987.76 74,502.981.97TOYOTA MOTOR CREDIT CORP
DTD 04/17/2017 1.950% 04/17/2020
89236TDU6 75,000.00
PFM Asset Management LLC 32
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
Corporate Note
AA-Aa3 4/11/2017 4/17/2017 224,896.50 1,998.75 224,963.28 223,508.931.97TOYOTA MOTOR CREDIT CORP
DTD 04/17/2017 1.950% 04/17/2020
89236TDU6 225,000.00
AA2 5/24/20176/5/2017 149,913.00 870.00 149,965.29 148,894.201.82HOME DEPOT INC CORP NOTES
DTD 06/05/2017 1.800% 06/05/2020
437076BQ4 150,000.00
AA2 5/24/20176/5/2017 24,985.50 145.00 24,994.22 24,815.701.82HOME DEPOT INC CORP NOTES
DTD 06/05/2017 1.800% 06/05/2020
437076BQ4 25,000.00
AA2 6/1/20176/6/2017 174,797.00 1,015.00 174,918.92 173,366.731.84WALT DISNEY COMPANY CORP
NOTES
DTD 06/06/2017 1.800% 06/05/2020
25468PDU7 175,000.00
AA2 6/1/20176/6/2017 49,942.00 290.00 49,976.83 49,533.351.84WALT DISNEY COMPANY CORP
NOTES
DTD 06/06/2017 1.800% 06/05/2020
25468PDU7 50,000.00
AA2 6/1/20176/6/2017 24,971.00 145.00 24,988.42 24,766.681.84WALT DISNEY COMPANY CORP
NOTES
DTD 06/06/2017 1.800% 06/05/2020
25468PDU7 25,000.00
AA2 5/24/20176/5/2017 24,985.50 145.00 24,994.22 24,815.701.82HOME DEPOT INC CORP NOTES
DTD 06/05/2017 1.800% 06/05/2020
437076BQ4 25,000.00
AA2 6/19/20176/22/2017 24,984.75 134.06 24,993.67 24,805.381.97JOHN DEERE CAPITAL CORP NOTES
DTD 06/22/2017 1.950% 06/22/2020
24422ETS8 25,000.00
AA3 9/5/20179/7/2017 39,966.40 55.50 39,983.75 39,550.841.88CATERPILLAR FINL SERVICE NOTE
DTD 09/07/2017 1.850% 09/04/2020
14913Q2A6 40,000.00
AA3 9/5/20179/7/2017 224,811.00 312.19 224,908.60 222,473.481.88CATERPILLAR FINL SERVICE NOTE
DTD 09/07/2017 1.850% 09/04/2020
14913Q2A6 225,000.00
AA3 9/5/20179/7/2017 39,966.40 55.50 39,983.75 39,550.841.88CATERPILLAR FINL SERVICE NOTE
DTD 09/07/2017 1.850% 09/04/2020
14913Q2A6 40,000.00
A+A1 11/6/201711/13/2017 24,997.75 196.46 24,998.77 24,781.852.05PACCAR FINANCIAL CORP NOTES
DTD 11/13/2017 2.050% 11/13/2020
69371RN85 25,000.00
A+A1 11/6/201711/13/2017 24,997.75 196.46 24,998.77 24,781.852.05PACCAR FINANCIAL CORP NOTES
DTD 11/13/2017 2.050% 11/13/2020
69371RN85 25,000.00
AA+Aa1 11/6/201711/13/2017 49,958.00 383.33 49,977.06 49,639.452.03APPLE INC
DTD 11/13/2017 2.000% 11/13/2020
037833DJ6 50,000.00
PFM Asset Management LLC 33
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
Corporate Note
A+A1 11/6/2017 11/13/2017 149,986.50 1,178.75 149,992.62 148,691.102.05PACCAR FINANCIAL CORP NOTES
DTD 11/13/2017 2.050% 11/13/2020
69371RN85 150,000.00
AA+Aa1 11/6/201711/13/2017 99,916.00 766.67 99,954.11 99,278.902.03APPLE INC
DTD 11/13/2017 2.000% 11/13/2020
037833DJ6 100,000.00
AA+Aa1 11/6/201711/13/2017 49,958.00 383.33 49,977.06 49,639.452.03APPLE INC
DTD 11/13/2017 2.000% 11/13/2020
037833DJ6 50,000.00
A-A2 5/6/20165/10/2016 51,108.00 403.75 50,419.70 49,838.102.04WELLS FARGO & COMPANY NOTES
DTD 12/07/2015 2.550% 12/07/2020
94974BGR5 50,000.00
AAAa2 10/11/201710/20/2017 299,565.00 1,678.33 299,759.86 297,406.801.95WAL-MART STORES INC CORP NOTE
DTD 10/20/2017 1.900% 12/15/2020
931142EA7 300,000.00
AAAa2 10/11/201710/20/2017 74,891.25 419.58 74,939.96 74,351.701.95WAL-MART STORES INC CORP NOTE
DTD 10/20/2017 1.900% 12/15/2020
931142EA7 75,000.00
A-A2 10/23/201710/26/2017 74,965.50 268.75 74,979.72 74,295.832.17BRANCH BANKING & TRUST
(CALLABLE) NOTES
DTD 10/26/2017 2.150% 02/01/2021
05531FAZ6 75,000.00
A-A2 10/23/201710/26/2017 24,988.50 89.58 24,993.24 24,765.282.17BRANCH BANKING & TRUST
(CALLABLE) NOTES
DTD 10/26/2017 2.150% 02/01/2021
05531FAZ6 25,000.00
A-A2 10/23/201710/26/2017 24,988.50 89.58 24,993.24 24,765.282.17BRANCH BANKING & TRUST
(CALLABLE) NOTES
DTD 10/26/2017 2.150% 02/01/2021
05531FAZ6 25,000.00
AA1 2/1/20182/6/2018 299,853.00 1,236.67 299,908.11 299,612.402.67IBM CORP CORP NOTES
DTD 02/06/2018 2.650% 02/05/2021
44932HAG8 300,000.00
AA2 4/12/20184/19/2018 24,894.25 32.22 24,928.10 25,128.103.05NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
63743HER9 25,000.00
AA2 2/21/20182/26/2018 124,861.25 161.11 124,908.91 125,640.502.94NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
63743HER9 125,000.00
AA2 4/12/20184/19/2018 174,259.75 225.56 174,496.73 175,896.703.05NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
63743HER9 175,000.00
AA2 2/21/20182/26/2018 24,972.25 32.22 24,981.78 25,128.102.94NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
63743HER9 25,000.00
PFM Asset Management LLC 34
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
Corporate Note
A A2 2/21/20182/26/2018 24,972.25 32.22 24,981.78 25,128.102.94NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
63743HER9 25,000.00
AA2 4/12/20184/19/2018 24,894.25 32.22 24,928.10 25,128.103.05NATIONAL RURAL UTIL COOP NOTE
DTD 02/26/2018 2.900% 03/15/2021
63743HER9 25,000.00
A+A1 3/19/20183/22/2018 298,467.00 206.25 298,975.89 301,059.002.93UNILEVER CAPITAL CORP NOTES
DTD 03/22/2018 2.750% 03/22/2021
904764AZ0 300,000.00
AA-Aa3 4/10/20184/13/2018 49,980.00 688.33 49,986.25 50,339.702.96TOYOTA MOTOR CREDIT CORP
NOTES
DTD 04/13/2018 2.950% 04/13/2021
89236TEU5 50,000.00
AA1 5/16/20165/19/2016 306,978.00 3,458.33 302,912.83 299,271.002.00BANK OF NEW YORK MELLON CORP
(CALLABLE)
DTD 02/19/2016 2.500% 04/15/2021
06406FAA1 300,000.00
AA1 5/16/20165/19/2016 51,149.00 576.39 50,479.68 49,878.502.00BANK OF NEW YORK MELLON CORP
(CALLABLE)
DTD 02/19/2016 2.500% 04/15/2021
06406FAA1 50,000.00
A+A1 10/5/201710/10/2017 39,992.00 368.89 39,995.26 39,657.602.01PEPSICO INC CORP (CALLABLE)
NOTE
DTD 10/10/2017 2.000% 04/15/2021
713448DX3 40,000.00
A+A1 10/5/201710/10/2017 199,960.00 1,844.44 199,976.29 198,288.002.01PEPSICO INC CORP (CALLABLE)
NOTE
DTD 10/10/2017 2.000% 04/15/2021
713448DX3 200,000.00
A+A1 10/5/201710/10/2017 39,992.00 368.89 39,995.26 39,657.602.01PEPSICO INC CORP (CALLABLE)
NOTE
DTD 10/10/2017 2.000% 04/15/2021
713448DX3 40,000.00
AA1 5/16/20165/19/2016 51,149.00 576.39 50,479.68 49,878.502.00BANK OF NEW YORK MELLON CORP
(CALLABLE)
DTD 02/19/2016 2.500% 04/15/2021
06406FAA1 50,000.00
A-A2 11/1/201711/3/2017 25,194.00 295.31 25,116.90 24,937.702.39BANK OF AMERICA CORP NOTE
DTD 04/19/2016 2.625% 04/19/2021
06051GFW4 25,000.00
BBB+A3 11/1/201711/3/2017 50,162.00 555.56 50,097.80 49,674.802.40MORGAN STANLEY CORP NOTES
DTD 04/21/2016 2.500% 04/21/2021
61746BEA0 50,000.00
PFM Asset Management LLC 35
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
Corporate Note
BBB+A3 11/1/201711/3/2017 300,972.00 3,333.33 300,586.79 298,048.802.40MORGAN STANLEY CORP NOTES
DTD 04/21/2016 2.500% 04/21/2021
61746BEA0 300,000.00
BBB+A3 11/1/201711/3/2017 50,162.00 555.56 50,097.80 49,674.802.40MORGAN STANLEY CORP NOTES
DTD 04/21/2016 2.500% 04/21/2021
61746BEA0 50,000.00
A-A2 5/25/20165/31/2016 199,536.00 1,825.00 199,797.12 198,698.202.30AMERICAN EXPRESS CREDIT
(CALLABLE) NOTES
DTD 05/05/2016 2.250% 05/05/2021
0258M0EB1 200,000.00
A-A2 5/10/20165/16/2016 24,983.50 200.73 24,992.83 24,659.402.06BRANCH BANKING & TRUST
(CALLABLE) NOTE
DTD 05/10/2016 2.050% 05/10/2021
05531FAV5 25,000.00
A+A1 5/7/20185/10/2018 19,994.80 242.83 19,996.30 20,155.063.11PACCAR FINANCIAL CORP
DTD 05/10/2018 3.100% 05/10/2021
69371RP26 20,000.00
A+A1 5/7/20185/10/2018 99,974.00 1,214.17 99,981.48 100,775.303.11PACCAR FINANCIAL CORP
DTD 05/10/2018 3.100% 05/10/2021
69371RP26 100,000.00
A-A2 5/10/20165/16/2016 24,983.50 200.73 24,992.83 24,659.402.06BRANCH BANKING & TRUST
(CALLABLE) NOTE
DTD 05/10/2016 2.050% 05/10/2021
05531FAV5 25,000.00
A-A2 5/10/20165/16/2016 149,901.00 1,204.38 149,957.00 147,956.402.06BRANCH BANKING & TRUST
(CALLABLE) NOTE
DTD 05/10/2016 2.050% 05/10/2021
05531FAV5 150,000.00
A+A1 5/7/20185/10/2018 19,994.80 242.83 19,996.30 20,155.063.11PACCAR FINANCIAL CORP
DTD 05/10/2018 3.100% 05/10/2021
69371RP26 20,000.00
AA1 5/3/20185/10/2018 24,982.75 292.78 24,987.63 25,249.353.12HERSHEY COMPANY CORP NOTES
DTD 05/10/2018 3.100% 05/15/2021
427866BA5 25,000.00
AA1 5/3/20185/10/2018 124,913.75 1,463.89 124,938.17 126,246.753.12HERSHEY COMPANY CORP NOTES
DTD 05/10/2018 3.100% 05/15/2021
427866BA5 125,000.00
AA1 5/3/20185/10/2018 24,982.75 292.78 24,987.63 25,249.353.12HERSHEY COMPANY CORP NOTES
DTD 05/10/2018 3.100% 05/15/2021
427866BA5 25,000.00
AA1 5/19/20165/24/2016 24,905.50 178.75 24,958.42 24,668.932.03STATE STREET CORP NOTES
DTD 05/19/2016 1.950% 05/19/2021
857477AV5 25,000.00
PFM Asset Management LLC 36
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
Corporate Note
AA1 5/19/2016 5/24/2016 74,716.50 536.25 74,875.27 74,006.782.03STATE STREET CORP NOTES
DTD 05/19/2016 1.950% 05/19/2021
857477AV5 75,000.00
AA1 5/19/20165/24/2016 24,905.50 178.75 24,958.42 24,668.932.03STATE STREET CORP NOTES
DTD 05/19/2016 1.950% 05/19/2021
857477AV5 25,000.00
AA2 5/17/20185/22/2018 199,994.00 2,347.22 199,995.56 202,508.603.25CHARLES SCHWAB CORP NOTES
DTD 05/22/2018 3.250% 05/21/2021
808513AW5 200,000.00
AA2 5/17/20185/22/2018 34,998.95 410.76 34,999.22 35,439.013.25CHARLES SCHWAB CORP NOTES
DTD 05/22/2018 3.250% 05/21/2021
808513AW5 35,000.00
A-A2 9/13/20179/18/2017 200,000.00 2,328.00 200,000.00 198,139.802.33BANK OF AMERICA CORP (CALLABLE)
DTD 09/18/2017 2.328% 10/01/2021
06051GGS2 200,000.00
A-A2 9/13/20179/18/2017 35,000.00 407.40 35,000.00 34,674.472.33BANK OF AMERICA CORP (CALLABLE)
DTD 09/18/2017 2.328% 10/01/2021
06051GGS2 35,000.00
A-A2 9/13/20179/18/2017 35,000.00 407.40 35,000.00 34,674.472.33BANK OF AMERICA CORP (CALLABLE)
DTD 09/18/2017 2.328% 10/01/2021
06051GGS2 35,000.00
AA2 10/3/201810/10/2018 374,820.00 3,902.34 374,835.79 381,579.383.39AMERICAN HONDA FINANCE CORP
NOTES
DTD 10/10/2018 3.375% 12/10/2021
02665WCP4 375,000.00
AA2 3/10/20173/15/2017 273,787.25 1,720.66 274,287.20 274,881.482.75JOHN DEERE CAPITAL CORP NOTES
DTD 01/06/2017 2.650% 01/06/2022
24422ETL3 275,000.00
AA2 3/10/20173/15/2017 49,779.50 312.85 49,870.40 49,978.452.75JOHN DEERE CAPITAL CORP NOTES
DTD 01/06/2017 2.650% 01/06/2022
24422ETL3 50,000.00
A-A2 5/14/20185/17/2018 15,000.00 195.36 15,000.00 15,175.613.50BANK OF AMERICA CORP NOTES
DTD 05/17/2018 3.499% 05/17/2022
06051GHH5 15,000.00
A-A2 5/14/20185/17/2018 15,000.00 195.36 15,000.00 15,175.613.50BANK OF AMERICA CORP NOTES
DTD 05/17/2018 3.499% 05/17/2022
06051GHH5 15,000.00
A-A2 5/14/20185/17/2018 75,000.00 976.80 75,000.00 75,878.033.50BANK OF AMERICA CORP NOTES
DTD 05/17/2018 3.499% 05/17/2022
06051GHH5 75,000.00
A-A2 3/15/20193/22/2019 675,000.00 541.18 675,000.00 679,062.153.21JPMORGAN CHASE & CO BONDS
DTD 03/22/2019 3.207% 04/01/2023
46647PBB1 675,000.00
A-A3 2/12/20192/15/2019 402,848.00 2,644.44 402,781.35 409,531.603.34PNC BANK NA CORP NOTES
DTD 01/23/2019 3.500% 01/23/2024
693475AV7 400,000.00
PFM Asset Management LLC 37
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
2.43 10,050,391.91 10,065,840.71 64,405.28 10,055,000.00 10,104,978.90Security Type Sub-Total
Certificate of Deposit
A-1+P-1 2/20/20182/22/2018 100,000.00 309.78 100,000.00 100,221.702.72NORDEA BANK AB NY CD
DTD 02/22/2018 2.720% 02/20/2020
65590ASN7 100,000.00
A-1+P-1 2/20/20182/22/2018 100,000.00 309.78 100,000.00 100,221.702.72NORDEA BANK AB NY CD
DTD 02/22/2018 2.720% 02/20/2020
65590ASN7 100,000.00
A-1+P-1 2/20/20182/22/2018 575,000.00 1,781.22 575,000.00 576,274.782.72NORDEA BANK AB NY CD
DTD 02/22/2018 2.720% 02/20/2020
65590ASN7 575,000.00
A-1P-1 3/2/20183/6/2018 300,000.00 676.67 300,000.00 300,966.302.93UBS AG STAMFORD CT LT CD
DTD 03/06/2018 2.900% 03/02/2020
90275DHG8 300,000.00
A+Aa2 6/5/20186/7/2018 49,981.00 496.22 49,988.61 50,350.003.10BANK OF NOVA SCOTIA HOUSTON CD
DTD 06/07/2018 3.080% 06/05/2020
06417GU22 50,000.00
A+Aa2 6/5/20186/7/2018 29,988.60 297.73 29,993.17 30,210.003.10BANK OF NOVA SCOTIA HOUSTON CD
DTD 06/07/2018 3.080% 06/05/2020
06417GU22 30,000.00
A+Aa2 6/5/20186/7/2018 299,886.00 2,977.33 299,931.65 302,100.003.10BANK OF NOVA SCOTIA HOUSTON CD
DTD 06/07/2018 3.080% 06/05/2020
06417GU22 300,000.00
AA-Aa3 8/3/20178/7/2017 100,000.00 307.50 100,000.00 99,439.102.05WESTPAC BANKING CORP NY CD
DTD 08/07/2017 2.050% 08/03/2020
96121T4A3 100,000.00
AA-Aa3 8/3/20178/7/2017 100,000.00 307.50 100,000.00 99,439.102.05WESTPAC BANKING CORP NY CD
DTD 08/07/2017 2.050% 08/03/2020
96121T4A3 100,000.00
A+Aa2 8/1/20188/3/2018 670,000.00 14,308.04 670,000.00 673,182.503.23BANK OF MONTREAL CHICAGO CERT
DEPOS
DTD 08/03/2018 3.190% 08/03/2020
06370REU9 670,000.00
AA-Aa3 8/3/20178/7/2017 540,000.00 1,660.50 540,000.00 536,971.142.05WESTPAC BANKING CORP NY CD
DTD 08/07/2017 2.050% 08/03/2020
96121T4A3 540,000.00
AA-Aa2 11/16/201711/17/2017 100,000.00 857.56 100,000.00 99,217.802.30SWEDBANK (NEW YORK) CERT
DEPOS
DTD 11/17/2017 2.270% 11/16/2020
87019U6D6 100,000.00
AA-Aa2 11/16/201711/17/2017 100,000.00 857.56 100,000.00 99,217.802.30SWEDBANK (NEW YORK) CERT
DEPOS
DTD 11/17/2017 2.270% 11/16/2020
87019U6D6 100,000.00
PFM Asset Management LLC 38
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
Certificate of Deposit
AA-Aa2 11/16/2017 11/17/2017 600,000.00 5,145.33 600,000.00 595,306.802.30SWEDBANK (NEW YORK) CERT
DEPOS
DTD 11/17/2017 2.270% 11/16/2020
87019U6D6 600,000.00
AA-Aa2 6/7/20186/8/2018 50,000.00 513.00 50,000.00 50,659.853.24ROYAL BANK OF CANADA NY CD
DTD 06/08/2018 3.240% 06/07/2021
78012UEE1 50,000.00
AA-Aa2 6/7/20186/8/2018 525,000.00 5,386.50 525,000.00 531,928.433.24ROYAL BANK OF CANADA NY CD
DTD 06/08/2018 3.240% 06/07/2021
78012UEE1 525,000.00
AA-Aa2 6/7/20186/8/2018 100,000.00 1,026.00 100,000.00 101,319.703.24ROYAL BANK OF CANADA NY CD
DTD 06/08/2018 3.240% 06/07/2021
78012UEE1 100,000.00
2.74 4,347,026.70 4,339,913.43 37,218.22 4,340,000.00 4,339,855.60Security Type Sub-Total
Asset-Backed Security
AAAAaa 10/10/201810/17/2018 299,997.33 308.00 299,997.77 303,922.833.36BMWLT 2018-1 A4
DTD 10/17/2018 3.360% 03/20/2022
05586CAD6 300,000.00
AAAAaa 9/18/20189/26/2018 274,964.97 277.29 274,969.52 276,813.273.31GMALT 2018-3 A4
DTD 09/26/2018 3.300% 07/20/2022
36256GAE9 275,000.00
AAAAaa 11/20/201811/28/2018 374,943.94 526.67 374,948.27 379,156.163.17HAROT 2018-4 A3
DTD 11/28/2018 3.160% 01/15/2023
43815AAC6 375,000.00
AAAAaa 11/15/201811/21/2018 324,986.35 322.74 324,987.45 328,770.883.25VALET 2018-2 A3
DTD 11/21/2018 3.250% 04/20/2023
92869BAD4 325,000.00
AAANR 7/11/20187/18/2018 299,930.04 377.50 299,939.82 302,354.463.03GMCAR 2018-3 A3
DTD 07/18/2018 3.020% 05/16/2023
36255JAD6 300,000.00
AAANR 7/18/20187/25/2018 349,952.30 486.89 349,958.72 353,643.643.36CARMAX AUTO OWNER TRUST
DTD 07/25/2018 3.130% 06/15/2023
14313FAD1 350,000.00
AAANR 10/17/201810/24/2018 349,996.78 522.67 349,997.31 355,889.843.36CARMAX AUTO OWNER TRUST
DTD 10/24/2018 3.360% 09/15/2023
14315EAC4 350,000.00
NRAaa 1/8/20191/16/2019 269,970.11 334.13 269,971.35 272,168.262.97GMCAR 2019-1 A3
DTD 01/16/2019 2.970% 11/16/2023
36256XAD4 270,000.00
3.23 2,572,719.34 2,544,770.21 3,155.89 2,545,000.00 2,544,741.82Security Type Sub-Total
PFM Asset Management LLC 39
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
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S&P
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Accrued
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Market
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at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
39,240,174.34 39,648,906.60 230,504.17 39,254,240.71 39,467,545.70 2.55 Managed Account Sub Total
Money Market Mutual Fund
AAAmNR 116,855.71 0.00 116,855.71 116,855.71CAMP Pool 116,855.71
116,855.71 116,855.71 0.00 116,855.71 116,855.71Money Market Sub Total
$230,504.17 $39,371,096.42 $39,584,401.41 Securities Sub-Total
Accrued Interest $230,504.17
Total Investments $39,814,905.58
2.55%$39,765,762.31 $39,357,030.05
Bolded items are forward settling trades.
PFM Asset Management LLC 40
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42
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Appendix
IMPORTANT DISCLOSURES
This material is based on information obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management LLC cannot guarantee its
accuracy, completeness or suitability. This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation. All statements as
to what will or may happen under certain circumstances are based on assumptions, some, but not all of which, are noted in the presentation. Assumptions may or may not be proven
correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Past performance does
not necessarily reflect and is not a guaranty of future results.The information contained in this presentation is not an offer to purchase or sell any securities.
Dime
à Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Interactive Data, Bloomberg, or Telerate.
Where prices are not available from generally recognized sources, the securities are priced using a yield based matrix system to arrive at an estimated market value.
à In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and
forward settling sales are excluded.
à Performance is presented in accordance with the CFA Institute ’s Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown gross of fees.
Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of
future returns.
à Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets.
à Money market fund/cash balances are included in performance and duration computations.
à Standard & Poorʼs is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.
à 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.
à MBS maturities are represented by expected average life.
PFM Asset Management LLC 43
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Appendix
GLOSSARY
à ACCRUED INTEREST: Interest that is due on a bond or other fixed income security since the last interest payment was made.
à AGENCIES: Federal agency securities and/or Government-sponsored enterprises.
à AMORTIZED COST: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until
the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis.
Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.
à 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.
à COMMERCIAL PAPER: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.
à CONTRIBUTION TO DURATION: Represents each sector or maturity range ’s relative contribution to the overall duration of the portfolio measured as a percentage weighting. Since
duration is a key measure of interest rate sensitivity, the contribution to duration measures the relative amount or contribution of that sector or maturity range to the total rate
sensitivity of the portfolio.
à DURATION TO WORST: A measure of the sensitivity of a security ’s price to a change in interest rates, stated in years, computed from cash flows to the maturity date or to the put
date, whichever results in the highest yield to the investor.
à EFFECTIVE DURATION: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.
à EFFECTIVE YIELD: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compounding on
investment returns, while ominal yield does not.
à FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.
à INTEREST RATE: Interest per year divided by principal amount and expressed as a percentage.
à MARKET VALUE: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.
à MATURITY: The date upon which the principal or stated value of an investment becomes due and payable.
à NEGOTIABLE CERTIFICATES OF DEPOSIT: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.
à PAR VALUE: The nominal dollar face amount of a security.
PFM Asset Management LLC 44
CITY OF LAKE ELSINORE
For the Quarter Ended March 31, 2019
Appendix
GLOSSARY
à PASS THROUGH SECURITY: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the
mortgage-backed security.
à REPURCHASE AGREEMENTS: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.
à SETTLE DATE: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments and maturity
proceeds) occurs on a non-business day, the funds are exchanged on the next business day.
à TRADE DATE: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.
à UNSETTLED TRADE: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.
à U.S. TREASURY: The department of the U.S. government that issues Treasury securities.
à YIELD: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on
an annualized basis.
à YTM AT COST: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time period from
purchase date to maturity, stated as a percentage on an annualized basis.
à YTM AT MARKET: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time period
remaining until maturity, stated as a percentage on an annualized basis.
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