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Item No. 06 Investment Report July 2023
Page 1 of 1 REPORT TO CITY COUNCIL To: Honorable Mayor and Members of the City Council From: Jason Simpson, City Manager Prepared by: Shannon Buckley, Assistant City Manager Date: September 12, 2023 Subject: CC Investment Report for July 2023 Recommendation Receive and file the Investment Report for July 2023. 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 June 30, 2023, is included. Fiscal Impact No fiscal impact. Attachments Attachment 1- Investment Report for July 2023 CITY OF LAKE ELSINORE INVESTMENT REPORT BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT PAYMENTS BALANCE Bank Accounts: General Checking Account 2,806,386$ 263,443$ (14,080)$ 3,055,748$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 2,000 Total Cash Accounts 2,806,386 263,443 (14,080) 3,058,048 INVESTMENTS Local Agency Investment Funds 73,550,572 - - 73,550,572 CAMP Investments: CAMP Pool Account 51,531 - - 51,531 U.S. Treasury Bond / Note 24,508,149 - - 24,508,149 Supra-National Agency Bond / Note 1,133,455 - - 1,133,455 Municipal Bond / Note 1,536,023 - - 1,536,023 Federal Agency Commercial Mortgage-Backed Security 3,484,330 - - 3,484,330 Federal Agency Bond / Note 4,511,627 - - 4,511,627 Corporate Note 11,849,400 - - 11,849,400 Certificate of Deposit 900,000 - - 900,000 Asset-Backed Security 3,944,124 - - 3,944,124 Sub-total Investments 125,469,212 - - 125,469,212 Market Value Adjustment: Unrealized Gain/(Loss) at 06/30/2023 (2,817,910) - - (2,817,910) Total Investments 122,651,302 - - 122,651,302 Total Pooled Cash and Investments 125,457,688$ 263,443$ (14,080)$ 125,709,350$ TOTAL POOLED CASH AND INVESTMENTS 125,709,350$ 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 28, 2022. 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 August 22, 2023 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 July 31, 2023 FUND NO FUND NAME AMOUNT 100 General 16,584,969$ 102 Measure Z 22,327,311 106 Affordable Housing In Lieu 644,687 107 Developer Agreement Revenue 79,276 108 American Rescue Plan 9,408,950 109 Road Maintenance and Rehabilitation (SB1)231,947 110 State Gas Tax 1,576,151 112 Measure A 1,715,638 114 SB1186 CASP Education Program 56,717 115 Traffic Safety 65,893 116 City Hall-Public Works DIF 12,261 117 Community Center DIF 168,953 118 Lake Side Facility DIF 283,049 119 Animal Shelter DIF 33,467 135 Lighting & Landscape Maintenance - Dist. No. 1 1,144,923 140 Geothermal 11,740 160 PEG Grant 80,970 180 Launch Pointe 1,166,627 202 La Strada RBBD 23,944 203 E.L.S.P. - S.T.I.F.3,376,452 205 Traffic Impact Fee 232,130 211 Storm Drain C.I.P. 3,101,532 221 Quimby Park C.I.P.88,160 231 Library C.I.P. 1,330,745 232 City Fire Protection 589,362 300 Insurance Service 697,392 305 Information Systems Service 2,453,847 310 Support Service 12,700 315 Fleet Service 290,600 320 Facilities Service 2,102,272 331 CFD 2006-1CC Summerly Improvement Area CC 93,067 332 CFD 2006-1 Improvement Area B, Summerly 102,088 334 CFD 2015-5 Trieste - Far West Industries 76,216 335 CFD 2003-2E Canyon Hills Improvement Area E 91,811 336 CFD 2006-1FF Summerly Improvement Area FF 110,778 337 CFD 2016-2 Canyon Hills 706,065 338 CFD 2006-1 IA-JJ Summerly Improvement Area 165,443 339 CFD 2006-1 IA-KK Summerly Improvement Area 153,802 340 CFD 2006-1 IA-EE Summerly Improvement Area 155,764 345 CFD 2003-2 Improvement Area D, Canyon Hills 849,474 346 CFD 2014-1 Southshore 68,242 347 CFD 2006-1 Improvement Area A, Summerly 153,242 350 CFD 98-1 Summerhill 852,882 351 CFD 2006-1 IA-II Summerly Improvement 161,882 354 CFD 90-2 Tuscany Hills 1,075,834 355 RAD 2021-1 Canyon Hills Improvement 833,847 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 July 31, 2023 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 July 31, 2023 357 CFD 2003-2 Canyon Hills Improvement Area 470,372 361 CFD 2022-2 Lakeshore Improvement 9,724 362 CFD 2006-8S Running Deer Estates Services 23,877 363 CFD 2022-3 Lakeside 5,598 364 CFD 2023-2 Coastal Mission Trail Improvement 40,038 366 CFD 2005-6 City Center Townhomes 152,817 368 CFD 2006-2 Viscaya 311,156 369 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area 1,188,154 370 CFD 2006-1 IA-HH Summerly Improvement 158,981 371 CFD 2005-1 Serenity 472,842 372 CFD 2005-2 Alberhill Ranch Improvement Area 1,104,712 374 CFD 2005-4 Lakeview Villas 800 375 CFD 2006-4 Clurman 3,088 377 CFD 2006-6 Tessara 95,664 378 CFD 2006-8 Running Deer Estates 3,457 384 CFD 2003-2 Area B Canyon Hills Improvement Area 946,601 385 CFD 2004-3 Area 2 Rosetta Canyon Improvement Area 1,097,625 386 CFD 2007-4 Mekenna Court 76,898 387 CFD 2007-5 Red Kite 72,218 388 CFD 2007-6 Holiday Inn Express 365 390 CFD 2003-2 Area C Canyon Hills Improvement Area 470,827 392 CFD 95-1 City Center 100,370 394 CFD 2005-5 (2012A) Wasson Canyon 196,019 395 CFD 2018-1 Wasson Canyon II Improvement Area 1,130 397 CFD 2018-3 Village at Lakeshore 158,572 500 Capital Improvement Plan 1,482,498 510 Successor To RDA Area I, II, & III 4,766,543 540 Successor To RDA Diamond Stadium 346,892 603 Endowment Trust - Carl Graves 59,360 604 Endowment Trust - Korn Memorial 33,735 605 Public Improvement Trust 1,678,322 606 Mobile Source Air Polution Reduction 281,630 608 Trust Deposit & Pre Paid Expense 1,570,233 617 Successor Agency Housing 25,953,178 620 Cost Recovery System 5,955,773 631 Lake Destratification Equipment Replacement 504,148 653 CFD 2009-1 Parks & Lighting Service 352,908 655 CFD 2015-1s Law, Fire, Paramedic Services 19,123 Total Pooled Cash & Investments 125,709,350$ MAXIMUM DIVERSIFICATION CURRENT TYPES OF SECURITIES PERCENTAGE PERCENTAGE BALANCE CAMP - Pooled Sweep Account Unlimited 0.04%51,531$ U.S. Treasury Bond / Note Unlimited 19.53%24,508,149$ Supra-National Agency Bond / Note 30%0.90%1,133,455$ Municipal Bond / Note Unlimited 1.22%1,536,023$ Federal Agency Collaterized Mortgage Obligation 40%2.78%3,484,330$ Federal Agency Bond / Note Unlimited 3.60%(1)4,511,627$ Corporate Note 30%9.44%11,849,400$ Negotiable Certificates of Deposit 30%0.72%900,000$ Asset-Backed Security / Collaterized Mortgage 20%3.14%3,944,124$ LAIF (Local Agency Investment Funds)$150 Million 58.62%(2)73,550,572$ TOTAL 100.00%125,469,212$ Note: (1) No more than 40% in any one federal agency. See CAMP Portfolio Statement for listing of agencies. (2) Investment in LAIF may not exceed $75 million in each agency. C I T Y O F L A K E E L S I N O R E SUMMARY OF POLICY LIMITATIONS FOR THE MONTH ENDING July 31, 2023 Local Agency Investment Fund July 3.305** June 3.167 May 2.993 April 2.870 March 2.831 February 2.624 LAIF Apportionment Rate(2):3.15 LAIF Earnings Ratio(2):0.00008636172883763 LAIF Administrative Cost(1)*:0.06 PMIA Average Life(1):260 LAIF Fair Value Factor(1):0.984828499 PMIA Daily(1):3.26 PMIA Quarter to Date(1):3.01 Treasuries 61.23% Agencies 23.10% Certificates of Deposit/Bank Notes 7.81% Time Deposits 3.00% Commercial Paper 4.41% Corporate Bonds 0.25% Loans 0.20% Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) and interest earned on the Wildfire Fund loan pursuant to Public Utility Code 3288 (a). *The percentage of administrative cost equals the total administrative cost divided by the quarterly interest earnings. The l aw provides that administrative costs are not to exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rate on the last day of the fiscal year is below 1%, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fund for the subsequent fiscal year. ** Revised Source: (1) State of California, Office of the Treasurer (2) State of Calfiornia, Office of the Controller PMIA Average Monthly Effective Yields(1) PMIA/LAIF Performance Report as of 08/16/23 Daily rates are now available here. View PMIA Daily Rates Quarterly Performance Quarter Ended 06/30/23 Chart does not include $2,786,000.00 in mortgages, which equates to 0.002%. Percentages may not total 100% due to rounding. Pooled Money Investment Account Monthly Portfolio Composition (1) 07/31/23 $173.5 billion Yield Purchase Date Maturity Rate 3.305%Daily 24-Hour Investment Beginning Balance Net Increase/(Decrease)Ending Balance Total Investments Held with Local Agency Investment Fund:73,059,580$ 490,992$ 73,550,572$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. 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 July 31, 2023 CAMP Investment Portfolio For the Month Ending July 31, 2023Account Statement - Transaction Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Opening Market Value Purchases Redemptions Change in Value Closing Market Value 99,538.78 2,448,283.60 (2,496,291.72) 0.00 $51,530.66 CAMP Pool Unsettled Trades 0.00 841.48 Cash Dividends and Income Opening Market Value Purchases Redemptions Change in Value Closing Market Value 50,049,438.56 2,479,663.81 (2,331,339.32) 66,560.19 $50,264,323.24 CAMP Managed Account Unsettled Trades 0.00 63,402.55 Cash Dividends and Income July 31, 2023 June 30, 2023 Asset Summary CAMP Pool 51,530.66 99,538.78 CAMP Managed Account 50,264,323.24 50,049,438.56 $50,315,853.90 $50,148,977.34 Total Asset Allocation 0.10% CAMP Pool 99.90% CAMP Managed Account Page 1 For the Month Ending July 31, 2023Managed 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 $99,538.78 2,448,283.60 (2,496,291.72) $51,530.66 841.48 $50,049,438.56 (49,594.37) (2,281,744.95) 2,479,663.81 0.00 66,560.19 $50,264,323.24 $50,148,977.34 $50,315,853.90 116,102.80 (12,560.56) (40,139.69) $63,402.55 0.00 2,287,391.61 110,456.14 49,594.37 (2,492,224.37) 44,782.25 0.00 Managed Account Total 52,043,829.93 52,095,360.59 210,256.88 2,287,391.61 49,594.37 110,456.14 (2,492,224.37) (51,922,252.76) (224,627.01) 0.00 210,256.88 4,783,683.33 49,594.37 110,456.14 (4,940,507.97) (52,021,791.54) (224,627.01) 841.48 Total Accrual Basis Earnings $62,424.79 $63,266.27 Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance $0.00 Closing Cash Balance Page 2 For the Month Ending July 31, 2023Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Account Summary Percent Par Value Market ValueDescription U.S. Treasury Bond / Note 25,950,000.00 23,990,940.82 47.68 Supra-National Agency Bond / Note 1,135,000.00 1,092,600.47 2.17 Municipal Bond / Note 1,535,000.00 1,441,779.20 2.87 Federal Agency Commercial Mortgage-Backed Security 3,545,000.00 3,420,370.18 6.80 Federal Agency Bond / Note 4,525,000.00 4,247,617.73 8.44 Corporate Note 11,840,000.00 11,302,854.50 22.46 Certificate of Deposit 900,000.00 895,947.21 1.78 Asset-Backed Security 3,944,635.51 3,872,213.13 7.70 Managed Account Sub-Total 53,374,635.51 50,264,323.24 99.90% Accrued Interest 210,256.88 Total Portfolio 53,374,635.51 50,474,580.12 CAMP Pool 51,530.66 51,530.66 0.10 Total Investments 53,426,166.17 50,526,110.78 100.00% Unsettled Trades 0.00 0.00 Sector Allocation 7.70% ABS 1.78% Cert of Deposit 22.46% Corporate Note 8.44% Fed Agy Bond / Note 6.80% Federal Agency Commercial Mortgage-Backed Security 0.10% Joint Powers Authority 2.87% Muni Bond / Note 2.17% Supra-National Agency Bond / Note 47.68% 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 4.91%6.46% 12.47% 15.62% 42.97% 17.57% 0.00% Maturity Distribution Characteristics Yield to Maturity at Cost Yield to Maturity at Market Weighted Average Days to Maturity 1036 3.01% 4.77% Page 3 For the Month Ending July 31, 2023Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Credit Quality (S&P Ratings) 3.86% A 2.37% A+ 7.51% A- 3.69% AA 64.63% AA+ 3.62% AA- 10.33% AAA 0.10% AAAm 1.91% BBB+ 1.98% NR Issuer Summary Percentof HoldingsIssuer Market Value 219,823.43 0.44 ABBOTT LABORATORIES 440,272.75 0.88 AMAZON.COM INC 539,303.71 1.07 AMERICAN EXPRESS CO 388,621.60 0.77 AMERICAN HONDA FINANCE 726,868.63 1.44 APPLE INC 597,483.73 1.19 BANK OF AMERICA CO 441,837.88 0.88 BERKSHIRE HATHAWAY INC 223,182.68 0.44 BMW FINANCIAL SERVICES NA LLC 362,629.88 0.72 BRISTOL-MYERS SQUIBB CO 77,225.90 0.15 CALIFORNIA STATE UNIVERSITY 51,530.66 0.10 CAMP Pool 725,013.14 1.44 CAPITAL ONE FINANCIAL CORP 270,546.47 0.54 CARMAX AUTO OWNER TRUST 203,430.38 0.40 CATERPILLAR INC 96,884.00 0.19 CHAFFEY JOINT UNION HIGH SCHOOL DISTRICT 381,236.27 0.76 CHARLES SCHWAB 62,913.11 0.13 CINTAS CORPORATION NO. 2 217,253.25 0.43 CITIGROUP INC 376,959.38 0.75 DEERE & COMPANY 846,732.21 1.68 DISCOVER FINANCIAL SERVICES 2,088,756.00 4.15 FANNIE MAE 460,716.15 0.92 FEDERAL HOME LOAN BANKS 287,618.00 0.57 FLORIDA STATE BOARD OF ADMIN FIN CORP 128,372.09 0.26 FORD CREDIT AUTO OWNER TRUST 5,118,515.76 10.17 FREDDIE MAC 218,758.28 0.43 GENERAL DYNAMICS CORP 351,189.20 0.70 GM FINANCIAL CONSUMER AUTOMOBILE TRUST 34,775.90 0.07 GM FINANCIAL LEASINGTRUST 393,009.60 0.78 GOLDMAN SACHS GROUP INC 168,623.70 0.34 HARLEY-DAVIDSON MOTORCYCLE TRUST 24,003.10 0.05 HOME DEPOT INC 93,934.08 0.19 HONDA AUTO RECEIVABLES Page 4 For the Month Ending July 31, 2023Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Percentof HoldingsIssuer Market Value 114,719.10 0.23 HYUNDAI AUTO RECEIVABLES 220,323.83 0.44 IBM CORP 600,747.47 1.19 INTER-AMERICAN DEVELOPMENT BANK 491,853.00 0.98 INTL BANK OF RECONSTRUCTION AND DEV 468,502.76 0.93 JP MORGAN CHASE & CO 59,460.00 0.12 LOCKHEED MARTIN CORP 129,047.80 0.26 LOS ANGELES COMMUNITY COLLEGE DISTRICT 719,372.25 1.43 MICROSOFT CORP 394,490.80 0.78 MORGAN STANLEY 721,950.25 1.43 NATIONAL AUSTRALIA BANK LTD 374,990.50 0.75 NATIONAL RURAL UTILITIES CO FINANCE CORP 301,372.50 0.60 NEW YORK ST URBAN DEVELOPMENT CORP 337,626.58 0.67 NISSAN AUTO RECEIVABLES 446,197.50 0.89 NORDEA BANK ABP 165,755.80 0.33 PACCAR FINANCIAL CORP 396,012.00 0.79 PNC FINANCIAL SERVICES GROUP 390,472.52 0.78 ROCHE HOLDINGS INC 120,000.40 0.24 SAN JUAN UNIFIED SCHOOL DISTRICT 200,546.00 0.40 STATE OF CALIFORNIA 58,234.80 0.12 STATE OF CONNECTICUT 91,946.00 0.18 STATE OF MINNESOTA 36,653.48 0.07 TARGET CORP 85,068.17 0.17 TEXAS INSTRUMENTS INC 630,520.75 1.25 THE BANK OF NEW YORK MELLON CORPORATION 384,772.40 0.76 THE WALT DISNEY CORPORATION 449,749.71 0.89 TORONTO-DOMINION BANK 816,908.91 1.62 TOYOTA MOTOR CORP 23,990,940.82 47.68 UNITED STATES TREASURY 203,429.93 0.40 UNITEDHEALTH GROUP INC 78,903.80 0.16 UNIVERSITY OF CALIFORNIA 217,263.15 0.43 USAA CAPITAL CORP $50,315,853.90 Total 100.00% Page 5 For the Month Ending July 31, 2023Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY N/B NOTES DTD 01/31/2022 0.875% 01/31/2024 1,711,171.88 1,717,784.88 41.61 1,683,281.25 01/17/2301/13/23AaaAA+ 1,750,000.00 91282CDV0 4.68 US TREASURY NOTES DTD 12/31/2019 1.750% 12/31/2024 381,062.48 408,874.42 608.70 427,531.25 08/07/2008/05/20AaaAA+ 400,000.00 912828YY0 0.18 US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025 137,320.32 148,686.83 32.61 147,093.75 04/05/2104/01/21AaaAA+ 150,000.00 912828ZW3 0.72 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 293,515.63 323,481.19 105.98 322,232.42 08/05/2108/03/21AaaAA+ 325,000.00 91282CBC4 0.57 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 361,250.00 392,850.88 130.43 387,968.75 12/06/2112/02/21AaaAA+ 400,000.00 91282CBC4 1.13 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 587,031.25 639,676.20 211.96 632,251.95 11/04/2111/02/21AaaAA+ 650,000.00 91282CBC4 1.05 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 745,078.12 818,969.34 269.02 814,236.33 09/07/2109/01/21AaaAA+ 825,000.00 91282CBC4 0.68 US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026 67,664.06 72,687.10 142.15 71,458.01 02/14/2202/10/22AaaAA+ 75,000.00 91282CBW0 1.92 US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026 857,078.13 935,253.51 1,800.61 926,843.75 01/06/2201/04/22AaaAA+ 950,000.00 91282CBW0 1.33 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 178,500.00 183,857.83 3.40 179,007.81 09/06/2209/01/22AaaAA+ 200,000.00 91282CCP4 3.53 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 223,125.00 233,200.10 4.25 226,250.00 05/05/2205/03/22AaaAA+ 250,000.00 91282CCP4 3.03 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 669,375.00 705,259.63 12.74 690,468.75 08/04/2208/01/22AaaAA+ 750,000.00 91282CCP4 2.74 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 714,000.00 750,078.44 13.59 732,343.75 07/08/2207/05/22AaaAA+ 800,000.00 91282CCP4 2.84 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 803,250.00 841,519.46 15.29 819,035.16 06/06/2206/02/22AaaAA+ 900,000.00 91282CCP4 2.94 Page 6 For the Month Ending July 31, 2023Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 803,250.00 839,087.79 15.29 819,562.50 08/15/2208/08/22AaaAA+ 900,000.00 91282CCP4 3.04 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 231,445.30 232,153.35 1,059.78 228,144.53 11/04/2211/01/22AaaAA+ 250,000.00 912828U24 4.39 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 902,636.67 917,069.20 4,133.15 907,092.77 01/06/2301/04/23AaaAA+ 975,000.00 912828U24 3.96 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 1,944,140.52 1,978,101.34 8,902.17 1,954,066.41 12/07/2212/05/22AaaAA+ 2,100,000.00 912828U24 3.92 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 8,794,921.40 9,003,532.84 40,271.74 8,922,578.13 01/17/2301/13/23AaaAA+ 9,500,000.00 912828U24 3.72 US TREASURY N/B NOTES DTD 04/30/2022 2.750% 04/30/2027 1,133,812.56 1,160,579.92 8,339.67 1,155,421.88 02/03/2301/31/23AaaAA+ 1,200,000.00 91282CEN7 3.70 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 353,554.69 363,049.41 28.02 362,329.10 05/05/2305/01/23AaaAA+ 375,000.00 91282CFB2 3.62 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 565,687.50 566,219.07 44.84 565,640.63 07/07/2307/03/23AaaAA+ 600,000.00 91282CFB2 4.30 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 754,250.00 751,452.50 59.78 746,531.25 03/06/2303/02/23AaaAA+ 800,000.00 91282CFB2 4.44 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 777,820.31 788,191.15 61.65 786,779.30 06/06/2306/02/23AaaAA+ 825,000.00 91282CFB2 3.97 66,308.43 23,990,940.82 24,771,616.38 3.35 24,508,149.43 25,950,000.00 Security Type Sub-Total Supra-National Agency Bond / Note INTL BK RECON & DEVELOP NOTES DTD 11/24/2020 0.250% 11/24/2023 491,853.00 499,887.10 232.64 498,925.00 11/24/2011/17/20AaaAAA 500,000.00 459058JM6 0.32 INTER-AMERICAN DEVEL BK NOTES DTD 09/23/2021 0.500% 09/23/2024 600,747.47 634,820.36 1,128.89 634,530.10 09/23/2109/15/21AaaAAA 635,000.00 4581X0DZ8 0.52 1,361.53 1,092,600.47 1,134,707.46 0.43 1,133,455.10 1,135,000.00 Security Type Sub-Total Page 7 For the Month Ending July 31, 2023Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Municipal Bond / Note CT ST TXBL GO BONDS DTD 06/11/2020 1.998% 07/01/2024 58,234.80 60,000.00 99.90 60,000.00 06/11/2005/29/20Aa3AA- 60,000.00 20772KJW0 2.00 CHAFFEY UHSD, CA TXBL GO BONDS DTD 12/05/2019 2.101% 08/01/2024 96,884.00 100,000.00 1,050.50 100,000.00 12/05/1911/06/19Aa1AA- 100,000.00 157411TK5 2.10 NY ST URBAN DEV CORP TXBL REV BONDS DTD 12/23/2020 0.870% 03/15/2025 301,372.50 325,000.00 1,068.17 325,000.00 12/23/2012/16/20NRNR 325,000.00 650036DT0 0.87 UNIV OF CAL TXBL REV BONDS DTD 07/16/2020 0.883% 05/15/2025 78,903.80 85,000.00 158.45 85,000.00 07/16/2007/10/20Aa2AA 85,000.00 91412HGE7 0.88 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 60,307.00 65,183.93 68.14 65,459.55 09/16/2009/03/20Aa3AA 65,000.00 341271AD6 1.11 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 78,863.00 85,225.55 89.11 85,563.55 09/16/2009/03/20Aa3AA 85,000.00 341271AD6 1.12 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 148,448.00 160,000.00 167.73 160,000.00 09/16/2009/03/20Aa3AA 160,000.00 341271AD6 1.26 MN ST TXBL GO BONDS DTD 08/25/2020 0.630% 08/01/2025 91,946.00 100,000.00 315.00 100,000.00 08/25/2008/11/20AaaAAA 100,000.00 60412AVJ9 0.63 SAN JUAN USD, CA TXBL GO BONDS DTD 10/29/2020 0.852% 08/01/2025 120,000.40 130,000.00 553.80 130,000.00 10/29/2010/16/20Aa2NR 130,000.00 798306WP7 0.85 LOS ANGELES CCD, CA TXBL GO BONDS DTD 11/10/2020 0.773% 08/01/2025 129,047.80 140,000.00 541.10 140,000.00 11/10/2010/30/20AaaAA+ 140,000.00 54438CYK2 0.77 CA ST UNIV TXBL REV BONDS DTD 07/29/2021 0.862% 11/01/2025 77,225.90 85,000.00 183.18 85,000.00 07/29/2107/09/21Aa2AA- 85,000.00 13077DQD7 0.86 CA ST MUNICIPAL BONDS DTD 03/15/2023 4.846% 03/01/2027 200,546.00 200,000.00 3,661.42 200,000.00 03/15/2303/09/23Aa2AA- 200,000.00 13063D3N6 4.85 7,956.50 1,441,779.20 1,535,409.48 1.59 1,536,023.10 1,535,000.00 Security Type Sub-Total Federal Agency Commercial Mortgage-Backed Security FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024 241,557.05 253,529.68 637.92 262,382.81 03/25/2003/19/20AaaAA+ 250,000.00 3137BGK24 1.95 Page 8 For the Month Ending July 31, 2023Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Commercial Mortgage-Backed Security FHMS K054 A2 DTD 04/20/2016 2.745% 01/01/2026 260,269.45 264,863.18 629.06 263,613.28 04/14/2304/11/23AaaAA+ 275,000.00 3137BNGT5 4.37 FHMS K058 A2 DTD 11/09/2016 2.653% 08/01/2026 514,617.20 528,969.73 1,215.96 526,839.84 04/12/2304/06/23AaaAA+ 550,000.00 3137BSP72 4.02 FHMS K061 A2 DTD 01/30/2017 3.347% 11/01/2026 362,076.35 368,945.20 1,059.88 368,303.13 05/24/2305/19/23AaaAA+ 380,000.00 3137BTUM1 4.31 FHLMC MULTIFAMILY STRUCTURED P DTD 07/01/2017 3.243% 04/01/2027 519,546.41 527,843.99 1,486.38 527,033.20 06/13/2306/08/23AaaAA+ 550,000.00 3137F1G44 4.44 FHMS KJ46 A1 DTD 07/01/2023 4.777% 06/01/2028 435,371.42 439,989.03 1,751.57 439,989.00 07/27/2307/19/23AaaAA+ 440,000.00 3137HAD45 4.78 FHMS K505 A2 DTD 07/01/2023 4.819% 06/01/2028 550,319.30 555,456.32 2,208.71 555,493.40 07/20/2307/13/23AaaAA+ 550,000.00 3137HACX2 4.59 FNA 2023-M6 A2 DTD 07/01/2023 4.190% 07/01/2028 536,613.00 540,680.97 1,920.42 540,675.78 07/31/2307/18/23AaaAA+ 550,000.00 3136BQDE6 4.58 10,909.90 3,420,370.18 3,480,278.10 4.27 3,484,330.44 3,545,000.00 Security Type Sub-Total Federal Agency Bond / Note FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 248,645.25 249,997.15 248.26 249,917.50 09/04/2009/02/20AaaAA+ 250,000.00 3137EAEW5 0.26 FREDDIE MAC NOTES DTD 10/16/2020 0.125% 10/16/2023 321,389.25 324,915.86 118.49 323,787.75 10/16/2010/14/20AaaAA+ 325,000.00 3137EAEY1 0.25 FREDDIE MAC NOTES DTD 11/05/2020 0.250% 11/06/2023 345,202.20 349,972.12 206.60 349,685.00 11/05/2011/03/20AaaAA+ 350,000.00 3137EAEZ8 0.28 FANNIE MAE NOTES DTD 11/25/2020 0.250% 11/27/2023 319,567.95 324,960.15 144.44 324,629.50 11/25/2011/23/20AaaAA+ 325,000.00 3135G06H1 0.29 FREDDIE MAC NOTES DTD 12/04/2020 0.250% 12/04/2023 294,655.20 299,966.10 118.75 299,703.00 12/04/2012/02/20AaaAA+ 300,000.00 3137EAFA2 0.28 Page 9 For the Month Ending July 31, 2023Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Bond / Note FEDERAL HOME LOAN BANK NOTES DTD 04/16/2020 0.500% 04/14/2025 324,128.70 349,408.01 520.14 348,264.00 04/16/2004/15/20AaaAA+ 350,000.00 3130AJHU6 0.60 FANNIE MAE NOTES DTD 04/24/2020 0.625% 04/22/2025 324,573.20 349,750.97 601.56 349,279.00 04/24/2004/22/20AaaAA+ 350,000.00 3135G03U5 0.67 FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025 388,692.68 424,164.54 44.27 422,883.50 07/23/2007/21/20AaaAA+ 425,000.00 3137EAEU9 0.48 FANNIE MAE NOTES DTD 08/27/2020 0.375% 08/25/2025 318,931.55 349,321.99 568.75 348,362.00 08/27/2008/25/20AaaAA+ 350,000.00 3135G05X7 0.47 FEDERAL HOME LOAN BANK NOTES DTD 09/11/2020 0.375% 09/04/2025 136,587.45 149,810.75 229.69 149,550.00 09/11/2009/10/20AaaAA+ 150,000.00 3130AK5E2 0.44 FREDDIE MAC NOTES DTD 09/25/2020 0.375% 09/23/2025 636,174.00 699,094.36 933.33 697,893.00 09/25/2009/23/20AaaAA+ 700,000.00 3137EAEX3 0.44 FANNIE MAE NOTES DTD 11/12/2020 0.500% 11/07/2025 589,070.30 648,940.65 758.33 647,673.00 11/12/2011/09/20AaaAA+ 650,000.00 3135G06G3 0.57 4,492.61 4,247,617.73 4,520,302.65 0.43 4,511,627.25 4,525,000.00 Security Type Sub-Total Corporate Note PNC BANK NA CORP NOTES (CALLABLE) DTD 01/23/2019 3.500% 01/23/2024 396,012.00 400,231.44 311.11 402,848.00 02/15/1902/12/19A3A- 400,000.00 693475AV7 3.34 CHARLES SCHWAB CORP NOTES (CALLABLE) DTD 03/18/2021 0.750% 03/18/2024 101,658.17 104,988.98 290.94 104,947.50 03/18/2103/16/21A2A- 105,000.00 808513BN4 0.77 BANK OF NY MELLON CORP NOTES (CALLABLE) DTD 04/26/2021 0.500% 04/26/2024 201,915.42 209,944.85 277.08 209,775.30 04/26/2104/19/21A1A 210,000.00 06406RAS6 0.54 MORGAN STANLEY CORP NOTES DTD 04/28/2014 3.875% 04/29/2024 394,490.80 403,578.16 3,961.11 422,916.00 07/23/1907/19/19A1A- 400,000.00 61746BDQ6 2.59 AMERICAN HONDA FINANCE CORP NOTE DTD 06/27/2019 2.400% 06/27/2024 388,621.60 399,636.98 906.67 398,016.00 07/15/1907/11/19A3A- 400,000.00 02665WCZ2 2.51 Page 10 For the Month Ending July 31, 2023Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note GOLDMAN SACHS GROUP INC (CALLABLE) BONDS DTD 07/08/2014 3.850% 07/08/2024 393,009.60 402,698.58 983.89 418,632.00 07/11/1907/08/19A2BBB+ 400,000.00 38141EC23 2.84 BMW US CAPITAL LLC CORPORATE NOTES DTD 08/12/2021 0.750% 08/12/2024 66,676.33 69,997.83 246.46 69,993.70 08/12/2108/09/21A2A 70,000.00 05565EBU8 0.75 WALT DISNEY COMPANY/THE (CALLABLE) DTD 09/06/2019 1.750% 08/30/2024 384,772.40 399,645.80 2,936.11 398,368.00 09/06/1909/03/19A2A- 400,000.00 254687FK7 1.84 PACCAR FINANCIAL CORP CORPORATE NOTES DTD 02/06/2020 1.800% 02/06/2025 165,755.80 177,806.73 1,531.25 182,894.25 10/29/2010/22/20A1A+ 175,000.00 69371RQ66 0.73 AMERICAN EXPRESS CO CORP NOTES (CALLABLE DTD 03/04/2022 2.250% 03/04/2025 76,010.88 79,957.17 735.00 79,919.20 03/04/2203/01/22A2BBB+ 80,000.00 025816CQ0 2.29 ROCHE HOLDINGS INC (CALLABLE) CORPORATE DTD 03/10/2022 2.132% 03/10/2025 390,472.52 410,000.00 3,423.64 410,000.00 03/10/2203/03/22Aa2AA 410,000.00 771196BT8 2.13 HOME DEPOT INC (CALLABLE) CORPORATE NOTE DTD 03/28/2022 2.700% 04/15/2025 24,003.10 24,975.53 198.75 24,956.25 03/28/2203/24/22A2A 25,000.00 437076CM2 2.76 CITIGROUP INC CORP NOTES DTD 04/27/2015 3.300% 04/27/2025 217,253.25 234,246.09 1,938.75 249,738.75 09/01/2008/28/20A3BBB+ 225,000.00 172967JP7 0.88 CINTAS CORPORATION NO. 2 CORP NOTE (CALL DTD 05/03/2022 3.450% 05/01/2025 62,913.11 64,991.65 560.63 64,985.70 05/03/2204/26/22A3A- 65,000.00 17252MAP5 3.46 USAA CAPITAL CORP CORPORATE NOTES DTD 05/26/2022 3.375% 05/01/2025 217,263.15 224,561.02 1,898.44 224,264.25 05/26/2205/23/22Aa1AA 225,000.00 90327QD89 3.49 GENERAL DYNAMICS CORP (CALLABLE) CORP NO DTD 05/11/2018 3.500% 05/15/2025 218,758.28 235,037.66 1,662.50 252,247.50 10/20/2010/16/20A3A- 225,000.00 369550BG2 0.80 Page 11 For the Month Ending July 31, 2023Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note JPMORGAN CHASE & CO (CALLABLE) CORP NOTE DTD 06/01/2021 0.824% 06/01/2025 301,310.73 315,000.00 432.60 315,000.00 06/01/2105/24/21A1A- 315,000.00 46647PCH7 0.82 AMAZON INC CORP NOTES (CALLABLE) DTD 06/03/2020 0.800% 06/03/2025 440,272.75 474,914.25 612.22 474,767.25 06/05/2006/03/20A1AA 475,000.00 023135BQ8 0.81 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES DTD 06/09/2022 3.500% 06/09/2025 241,758.25 250,000.00 1,263.89 250,000.00 06/09/2205/31/22Aa3AA- 250,000.00 63254ABD9 3.50 NATIONAL RURAL UTIL COOP CORPORATE NOTES DTD 05/04/2022 3.450% 06/15/2025 48,172.75 49,991.89 220.42 49,986.50 05/04/2204/27/22A2A- 50,000.00 63743HFE7 3.46 IBM CORP CORPORATE NOTES DTD 07/27/2022 4.000% 07/27/2025 220,323.83 225,000.00 100.00 225,000.00 07/27/2207/20/22A3A- 225,000.00 459200KS9 4.00 BANK OF AMERICA CORP NOTES DTD 07/30/2015 3.875% 08/01/2025 218,023.43 237,912.24 4,359.38 256,918.50 08/20/2008/18/20A1A- 225,000.00 06051GFS3 0.93 ABBOTT LABORATORIES CORPORATE NOTES (CAL DTD 03/22/2017 3.875% 09/15/2025 219,823.43 238,054.23 3,293.75 257,845.50 09/28/2009/24/20Aa3AA- 225,000.00 002824BM1 0.86 BANK OF AMERICA CORP NOTES (CALLABLE) DTD 12/06/2021 1.530% 12/06/2025 211,158.00 225,000.00 525.94 225,000.00 12/06/2112/01/21A1A- 225,000.00 06051GKE8 1.53 JPMORGAN CHASE & CO CORP NOTES (CALLABLE DTD 02/24/2022 2.595% 02/24/2026 167,192.03 175,000.00 1,980.49 175,000.00 02/24/2202/16/22A1A- 175,000.00 46647PCV6 2.60 UNITEDHEALTH GROUP INC (CALLABLE) CORPOR DTD 05/19/2021 1.150% 05/15/2026 203,429.93 224,781.26 546.25 224,608.50 05/19/2105/17/21A2A+ 225,000.00 91324PEC2 1.19 BMW US CAPITAL LLC (CALLABLE) CORPORATE DTD 08/12/2021 1.250% 08/12/2026 156,506.35 174,968.10 1,026.91 174,947.50 08/16/2108/12/21A2A 175,000.00 05565EBW4 1.26 Page 12 For the Month Ending July 31, 2023Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note CATERPILLAR FINL SERVICE CORPORATE NOTES DTD 01/10/2022 1.700% 01/08/2027 203,430.38 224,216.29 244.38 223,863.75 01/13/2201/11/22A2A 225,000.00 14913R2U0 1.81 TARGET CORP CORP NOTES (CALLABLE) DTD 01/24/2022 1.950% 01/15/2027 36,653.48 39,952.73 34.67 39,932.00 01/24/2201/19/22A2A 40,000.00 87612EBM7 1.99 BANK OF NY MELLON CORP (CALLABLE) CORPOR DTD 01/26/2022 2.050% 01/26/2027 428,605.33 474,263.47 135.24 473,945.50 01/28/2201/26/22A1A 475,000.00 06406RBA4 2.10 MICROSOFT CORP CORP NOTES (CALLABLE) DTD 02/06/2017 3.300% 02/06/2027 719,372.25 724,645.65 12,031.25 721,942.50 03/17/2303/14/23AaaAAA 750,000.00 594918BY9 4.36 AMERICAN EXPRESS CO CORP NOTES (CALLABLE DTD 03/04/2022 2.550% 03/04/2027 274,059.00 280,154.80 3,123.75 277,203.00 01/18/2301/13/23A2BBB+ 300,000.00 025816CS6 4.59 BERKSHIRE HATHAWAY CORP NOTES (CALLABLE) DTD 03/15/2022 2.300% 03/15/2027 441,837.88 468,541.48 4,127.22 466,089.00 03/17/2203/15/22Aa2AA 475,000.00 084664CZ2 2.70 CHARLES SCHWAB CORP NOTES (CALLABLE) DTD 09/24/2021 3.300% 04/01/2027 279,578.10 286,534.07 3,300.00 284,925.00 02/22/2302/17/23A2A- 300,000.00 808513BW4 4.66 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES DTD 06/09/2022 3.905% 06/09/2027 480,192.00 489,745.23 2,820.28 488,325.00 01/18/2301/13/23Aa3AA- 500,000.00 63254ABE7 4.50 APPLE INC (CALLABLE) BONDS DTD 09/12/2017 2.900% 09/12/2027 726,868.63 744,871.42 8,677.85 741,062.75 01/23/2301/19/23AaaAA+ 775,000.00 037833DB3 3.94 TOYOTA MOTOR CREDIT CORP CORPORATE NOTES DTD 01/12/2023 4.625% 01/12/2028 373,764.38 376,159.75 915.36 376,282.50 02/10/2302/08/23A1A+ 375,000.00 89236TKQ7 4.55 NATIONAL RURAL UTIL COOP CORP NOTES (CAL DTD 02/07/2018 3.400% 02/07/2028 326,817.75 331,027.63 5,751.67 329,189.00 02/22/2302/17/23A1A- 350,000.00 637432NP6 4.76 Page 13 For the Month Ending July 31, 2023Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note TEXAS INSTRUMENTS INC CORP NOTE (CALLABL DTD 11/18/2022 4.600% 02/15/2028 85,068.17 86,953.41 1,802.94 87,043.40 05/18/2305/11/23Aa3A+ 85,000.00 882508BV5 4.04 BRISTOL-MYERS SQUIBB CO CORP NOTES (CALL DTD 07/15/2020 3.900% 02/20/2028 362,629.88 359,571.12 6,540.63 358,263.75 03/13/2303/09/23A2A+ 375,000.00 110122DE5 4.93 LOCKHEED MARTIN CORP NOTES (CALLABLE) DTD 05/25/2023 4.450% 05/15/2028 59,460.00 59,896.04 489.50 59,892.00 05/25/2305/23/23A3A- 60,000.00 539830BZ1 4.49 JOHN DEERE CAPITAL CORP CORPORATE NOTES DTD 07/14/2023 4.950% 07/14/2028 376,959.38 377,853.96 876.56 377,865.00 07/25/2307/21/23A2A 375,000.00 24422EXB0 4.78 87,095.48 11,302,854.50 11,757,307.49 2.89 11,849,400.30 11,840,000.00 Security Type Sub-Total Certificate of Deposit TORONTO DOMINION BANK NY CERT DEPOS DTD 10/31/2022 5.600% 10/27/2025 449,749.71 450,000.00 19,180.00 450,000.00 10/31/2210/27/22A1A 450,000.00 89115B6K1 5.58 NORDEA BANK ABP NEW YORK CERT DEPOS DTD 11/03/2022 5.530% 11/03/2025 446,197.50 450,000.00 6,083.00 450,000.00 11/03/2211/02/22Aa3AA- 450,000.00 65558UYF3 5.53 25,263.00 895,947.21 900,000.00 5.56 900,000.00 900,000.00 Security Type Sub-Total Asset-Backed Security GMALT 2021-2 A4 DTD 05/26/2021 0.410% 05/20/2025 34,775.90 34,998.67 4.38 34,997.05 05/26/2105/18/21NRAAA 35,000.00 380144AD7 0.41 HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 39,327.55 40,294.80 6.81 40,292.62 04/28/2104/20/21NRAAA 40,296.85 44933LAC7 0.38 NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 199,875.89 205,926.20 30.20 205,924.50 06/23/2106/15/21AaaAAA 205,927.99 65480BAC1 0.33 Page 14 For the Month Ending July 31, 2023Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Asset-Backed Security TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 201,349.82 207,925.97 24.03 207,915.19 06/14/2106/08/21NRAAA 207,937.59 89190GAC1 0.26 HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026 93,934.08 97,478.00 23.83 97,469.68 11/24/2111/16/21AaaNR 97,490.23 43815GAC3 0.89 CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 65,351.77 67,620.41 15.63 67,613.53 04/21/2104/13/21NRAAA 67,628.11 14314QAC8 0.52 HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 75,391.55 78,216.65 25.73 78,210.03 11/17/2111/09/21NRAAA 78,227.49 44935FAD6 0.75 DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026 184,378.78 194,973.74 50.27 194,958.25 09/27/2109/20/21AaaAAA 195,000.00 254683CP8 0.58 GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 78,782.23 82,125.91 23.27 82,125.15 10/21/2110/13/21AaaAAA 82,127.25 362554AC1 0.68 CARMX 2022-3 A3 DTD 07/20/2022 3.970% 04/15/2027 205,194.70 209,996.12 370.53 209,995.04 07/20/2207/12/22NRAAA 210,000.00 14318MAD1 3.97 NAROT 2022-B A3 DTD 09/28/2022 4.460% 05/17/2027 137,750.69 139,976.29 277.51 139,971.03 09/28/2209/20/22AaaAAA 140,000.00 65480JAC4 4.46 GMCAR 2022-4 A3 DTD 10/12/2022 4.820% 08/16/2027 272,406.97 274,962.39 552.29 274,954.93 10/12/2210/04/22NRAAA 275,000.00 36265QAD8 4.82 TAOT 2023-A A3 DTD 01/30/2023 4.630% 09/15/2027 241,794.71 244,999.89 504.16 244,999.88 01/30/2301/24/23NRAAA 245,000.00 891940AC2 4.63 COMET 2022-A3 A DTD 11/03/2022 4.950% 10/15/2027 243,613.23 244,967.32 539.00 244,961.56 11/03/2210/27/22NRAAA 245,000.00 14041NGB1 4.95 HDMOT 2023-A A3 DTD 02/23/2023 5.050% 12/15/2027 168,623.70 169,984.43 381.56 169,982.88 02/23/2302/13/23AaaNR 170,000.00 41285JAD0 5.05 FORDO 2023-A A3 DTD 03/31/2023 4.650% 02/15/2028 128,372.09 129,987.38 268.67 129,986.44 03/31/2303/28/23NRAAA 130,000.00 344928AD8 4.65 DCENT 2023-A1 A DTD 04/11/2023 4.310% 03/15/2028 313,801.06 319,982.59 612.98 319,981.44 04/11/2304/04/23AaaNR 320,000.00 254683CY9 4.31 Page 15 For the Month Ending July 31, 2023Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Asset-Backed Security BACCT 2023-A1 A1 DTD 06/16/2023 4.790% 05/15/2028 168,302.30 169,962.50 1,017.87 169,961.51 06/16/2306/08/23NRAAA 170,000.00 05522RDG0 4.79 AMXCA 2023-1 A DTD 06/14/2023 4.870% 05/15/2028 189,233.83 189,983.60 411.24 189,983.15 06/14/2306/07/23NRAAA 190,000.00 02582JJZ4 4.87 COMET 2023-A1 A DTD 05/24/2023 4.420% 05/15/2028 481,399.91 489,891.90 962.58 489,887.64 05/24/2305/17/23NRAAA 490,000.00 14041NGD7 4.43 DCENT 2023-A2 A DTD 06/28/2023 4.930% 06/15/2028 348,552.37 349,953.61 766.89 349,952.72 06/28/2306/21/23AaaAAA 350,000.00 254683CZ6 4.93 6,869.43 3,872,213.13 3,944,208.37 3.60 3,944,124.22 3,944,635.51 Security Type Sub-Total 53,374,635.51 51,867,109.84 3.01 210,256.88 52,043,829.93 50,264,323.24 Managed Account Sub-Total Joint Powers Authority CAMP Pool 51,530.66 51,530.66 0.00 51,530.66 NRAAAm 51,530.66 51,530.66 51,530.66 0.00 51,530.66 51,530.66 Liquid Sub-Total $53,426,166.17 $51,918,640.50 $210,256.88 $52,095,360.59 $50,315,853.90 3.01% $50,526,110.78 $210,256.88 Total Investments Accrued Interest Securities Sub-Total Page 16 For the Month Ending July 31, 2023Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration U.S. Treasury Bond / Note (6,613.00) 27,890.63 1,711,171.88 97.78 CITIGRP 1,750,000.00 91282CDV0US TREASURY N/B NOTES DTD 01/31/2022 0.875% 01/31/2024 5.43 0.50 (27,811.94)(46,468.77) 381,062.48 95.27 WELLS_F 400,000.00 912828YY0US TREASURY NOTES DTD 12/31/2019 1.750% 12/31/2024 5.26 1.40 (11,366.51)(9,773.43) 137,320.32 91.55 GOLDMAN 150,000.00 912828ZW3US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025 4.93 1.91 (29,965.56)(28,716.79) 293,515.63 90.31 JPM_CHA 325,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 4.66 2.41 (31,600.88)(26,718.75) 361,250.00 90.31 CITIGRP 400,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 4.66 2.41 (52,644.95)(45,220.70) 587,031.25 90.31 BNP_PAR 650,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 4.66 2.41 (73,891.22)(69,158.21) 745,078.12 90.31 CITIGRP 825,000.00 91282CBC4US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 4.66 2.41 (5,023.04)(3,793.95) 67,664.06 90.22 BMO 75,000.00 91282CBW0US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026 4.58 2.72 (78,175.38)(69,765.62) 857,078.13 90.22 CITIGRP 950,000.00 91282CBW0US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026 4.58 2.72 (5,357.83)(507.81) 178,500.00 89.25 BMO 200,000.00 91282CCP4US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 4.50 2.98 (10,075.10)(3,125.00) 223,125.00 89.25 HSBC 250,000.00 91282CCP4US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 4.50 2.98 (35,884.63)(21,093.75) 669,375.00 89.25 BMO 750,000.00 91282CCP4US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 4.50 2.98 (36,078.44)(18,343.75) 714,000.00 89.25 HSBC 800,000.00 91282CCP4US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 4.50 2.98 (38,269.46)(15,785.16) 803,250.00 89.25 MERRILL 900,000.00 91282CCP4US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 4.50 2.98 (35,837.79)(16,312.50) 803,250.00 89.25 BMO 900,000.00 91282CCP4US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 4.50 2.98 (708.05) 3,300.77 231,445.30 92.58 BMO 250,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 4.45 3.18 (14,432.53)(4,456.10) 902,636.67 92.58 BMO 975,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 4.45 3.18 Page 17 For the Month Ending July 31, 2023Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration U.S. Treasury Bond / Note (33,960.82)(9,925.89) 1,944,140.52 92.58 HSBC 2,100,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 4.45 3.18 (208,611.44)(127,656.73) 8,794,921.40 92.58 JPM_CHA 9,500,000.00 912828U24US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 4.45 3.18 (26,767.36)(21,609.32) 1,133,812.56 94.48 BNP_PAR 1,200,000.00 91282CEN7US TREASURY N/B NOTES DTD 04/30/2022 2.750% 04/30/2027 4.36 3.56 (9,494.72)(8,774.41) 353,554.69 94.28 MORGAN_ 375,000.00 91282CFB2US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 4.32 3.81 (531.57) 46.87 565,687.50 94.28 CITIGRP 600,000.00 91282CFB2US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 4.32 3.81 2,797.50 7,718.75 754,250.00 94.28 BMO 800,000.00 91282CFB2US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 4.32 3.81 (10,370.84)(8,958.99) 777,820.31 94.28 HSBC 825,000.00 91282CFB2US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 4.32 3.81 (517,208.61) 4.55 (780,675.56) 23,990,940.82 25,950,000.00 Security Type Sub-Total 2.93 Supra-National Agency Bond / Note (8,034.10)(7,072.00) 491,853.00 98.37 TD 500,000.00 459058JM6INTL BK RECON & DEVELOP NOTES DTD 11/24/2020 0.250% 11/24/2023 5.48 0.32 (34,072.89)(33,782.63) 600,747.47 94.61 JPM_CHA 635,000.00 4581X0DZ8INTER-AMERICAN DEVEL BK NOTES DTD 09/23/2021 0.500% 09/23/2024 5.41 1.14 (40,854.63) 5.44 (42,106.99) 1,092,600.47 1,135,000.00 Security Type Sub-Total 0.77 Municipal Bond / Note (1,765.20)(1,765.20) 58,234.80 97.06 SIEBERT 60,000.00 20772KJW0CT ST TXBL GO BONDS DTD 06/11/2020 1.998% 07/01/2024 5.32 0.91 (3,116.00)(3,116.00) 96,884.00 96.88 RBC 100,000.00 157411TK5CHAFFEY UHSD, CA TXBL GO BONDS DTD 12/05/2019 2.101% 08/01/2024 5.33 0.99 (23,627.50)(23,627.50) 301,372.50 92.73 WELLS_F 325,000.00 650036DT0NY ST URBAN DEV CORP TXBL REV BONDS DTD 12/23/2020 0.870% 03/15/2025 5.61 1.61 (6,096.20)(6,096.20) 78,903.80 92.83 04/15/25JPM_CHA 85,000.00 91412HGE7UNIV OF CAL TXBL REV BONDS DTD 07/16/2020 0.883% 05/15/2025 5.12 1.70 Page 18 For the Month Ending July 31, 2023Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration Municipal Bond / Note (4,876.93)(5,152.55) 60,307.00 92.78 MERRILL 65,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 5.26 1.90 (6,362.55)(6,700.55) 78,863.00 92.78 MERRILL 85,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 5.26 1.90 (11,552.00)(11,552.00) 148,448.00 92.78 MERRILL 160,000.00 341271AD6FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 5.26 1.90 (8,054.00)(8,054.00) 91,946.00 91.95 MORGAN_ 100,000.00 60412AVJ9MN ST TXBL GO BONDS DTD 08/25/2020 0.630% 08/01/2025 4.90 1.99 (9,999.60)(9,999.60) 120,000.40 92.31 KEYBANC 130,000.00 798306WP7SAN JUAN USD, CA TXBL GO BONDS DTD 10/29/2020 0.852% 08/01/2025 4.93 1.98 (10,952.20)(10,952.20) 129,047.80 92.18 MERRILL 140,000.00 54438CYK2LOS ANGELES CCD, CA TXBL GO BONDS DTD 11/10/2020 0.773% 08/01/2025 4.92 1.98 (7,774.10)(7,774.10) 77,225.90 90.85 JPM_CHA 85,000.00 13077DQD7CA ST UNIV TXBL REV BONDS DTD 07/29/2021 0.862% 11/01/2025 5.22 2.23 546.00 546.00 200,546.00 100.27 WELLS_F 200,000.00 13063D3N6CA ST MUNICIPAL BONDS DTD 03/15/2023 4.846% 03/01/2027 4.76 3.28 (94,243.90) 5.18 (93,630.28) 1,441,779.20 1,535,000.00 Security Type Sub-Total 1.96 Federal Agency Commercial Mortgage-Backed Security (11,972.63)(20,825.76) 241,557.05 96.62 CITIGRP 250,000.00 3137BGK24FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024 5.69 1.27 (4,593.73)(3,343.83) 260,269.45 94.64 BAIRD 275,000.00 3137BNGT5FHMS K054 A2 DTD 04/20/2016 2.745% 01/01/2026 5.10 2.24 (14,352.53)(12,222.64) 514,617.20 93.57 BREAN 550,000.00 3137BSP72FHMS K058 A2 DTD 11/09/2016 2.653% 08/01/2026 4.96 2.85 (6,868.85)(6,226.78) 362,076.35 95.28 CITIGRP 380,000.00 3137BTUM1FHMS K061 A2 DTD 01/30/2017 3.347% 11/01/2026 4.92 2.92 (8,297.58)(7,486.79) 519,546.41 94.46 CITIGRP 550,000.00 3137F1G44FHLMC MULTIFAMILY STRUCTURED P DTD 07/01/2017 3.243% 04/01/2027 4.89 3.37 (4,617.61)(4,617.58) 435,371.42 98.95 JPM_CHA 440,000.00 3137HAD45FHMS KJ46 A1 DTD 07/01/2023 4.777% 06/01/2028 5.02 3.43 (5,137.02)(5,174.10) 550,319.30 100.06 JPM_CHA 550,000.00 3137HACX2FHMS K505 A2 DTD 07/01/2023 4.819% 06/01/2028 4.81 4.20 Page 19 For the Month Ending July 31, 2023Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration Federal Agency Commercial Mortgage-Backed Security (4,067.97)(4,062.78) 536,613.00 97.57 JPM_CHA 550,000.00 3136BQDE6FNA 2023-M6 A2 DTD 07/01/2023 4.190% 07/01/2028 4.75 4.36 (63,960.26) 4.96 (59,907.92) 3,420,370.18 3,545,000.00 Security Type Sub-Total 3.30 Federal Agency Bond / Note (1,351.90)(1,272.25) 248,645.25 99.46 WELLS_F 250,000.00 3137EAEW5FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 5.41 0.11 (3,526.61)(2,398.50) 321,389.25 98.89 WELLS_F 325,000.00 3137EAEY1FREDDIE MAC NOTES DTD 10/16/2020 0.125% 10/16/2023 5.45 0.21 (4,769.92)(4,482.80) 345,202.20 98.63 CITIGRP 350,000.00 3137EAEZ8FREDDIE MAC NOTES DTD 11/05/2020 0.250% 11/06/2023 5.46 0.27 (5,392.20)(5,061.55) 319,567.95 98.33 NOMURA 325,000.00 3135G06H1FANNIE MAE NOTES DTD 11/25/2020 0.250% 11/27/2023 5.48 0.33 (5,310.90)(5,047.80) 294,655.20 98.22 CITIGRP 300,000.00 3137EAFA2FREDDIE MAC NOTES DTD 12/04/2020 0.250% 12/04/2023 5.52 0.35 (25,279.31)(24,135.30) 324,128.70 92.61 CITIGRP 350,000.00 3130AJHU6FEDERAL HOME LOAN BANK NOTES DTD 04/16/2020 0.500% 04/14/2025 5.08 1.70 (25,177.77)(24,705.80) 324,573.20 92.74 CITIGRP 350,000.00 3135G03U5FANNIE MAE NOTES DTD 04/24/2020 0.625% 04/22/2025 5.07 1.72 (35,471.86)(34,190.82) 388,692.68 91.46 WELLS_F 425,000.00 3137EAEU9FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025 4.97 1.97 (30,390.44)(29,430.45) 318,931.55 91.12 BARCLAY 350,000.00 3135G05X7FANNIE MAE NOTES DTD 08/27/2020 0.375% 08/25/2025 4.94 2.06 (13,223.30)(12,962.55) 136,587.45 91.06 WELLS_F 150,000.00 3130AK5E2FEDERAL HOME LOAN BANK NOTES DTD 09/11/2020 0.375% 09/04/2025 4.92 2.08 (62,920.36)(61,719.00) 636,174.00 90.88 CITIGRP 700,000.00 3137EAEX3FREDDIE MAC NOTES DTD 09/25/2020 0.375% 09/23/2025 4.90 2.14 (59,870.35)(58,602.70) 589,070.30 90.63 BARCLAY 650,000.00 3135G06G3FANNIE MAE NOTES DTD 11/12/2020 0.500% 11/07/2025 4.92 2.26 (264,009.52) 5.14 (272,684.92) 4,247,617.73 4,525,000.00 Security Type Sub-Total 1.39 Corporate Note Page 20 For the Month Ending July 31, 2023Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration Corporate Note (4,219.44)(6,836.00) 396,012.00 99.00 12/23/23CITIGRP 400,000.00 693475AV7PNC BANK NA CORP NOTES (CALLABLE) DTD 01/23/2019 3.500% 01/23/2024 5.63 0.40 (3,330.81)(3,289.33) 101,658.17 96.82 02/18/24CSFB 105,000.00 808513BN4CHARLES SCHWAB CORP NOTES (CALLABLE) DTD 03/18/2021 0.750% 03/18/2024 5.94 0.55 (8,029.43)(7,859.88) 201,915.42 96.15 03/26/24JPM_CHA 210,000.00 06406RAS6BANK OF NY MELLON CORP NOTES (CALLABLE) DTD 04/26/2021 0.500% 04/26/2024 5.90 0.65 (9,087.36)(28,425.20) 394,490.80 98.62 WELLS_FA 400,000.00 61746BDQ6MORGAN STANLEY CORP NOTES DTD 04/28/2014 3.875% 04/29/2024 5.78 0.74 (11,015.38)(9,394.40) 388,621.60 97.16 WELLS_FA 400,000.00 02665WCZ2AMERICAN HONDA FINANCE CORP NOTE DTD 06/27/2019 2.400% 06/27/2024 5.65 0.90 (9,688.98)(25,622.40) 393,009.60 98.25 04/08/24SUSQ 400,000.00 38141EC23GOLDMAN SACHS GROUP INC (CALLABLE) BONDS DTD 07/08/2014 3.850% 07/08/2024 5.79 0.68 (3,321.50)(3,317.37) 66,676.33 95.25 GOLDMAN 70,000.00 05565EBU8BMW US CAPITAL LLC CORPORATE NOTES DTD 08/12/2021 0.750% 08/12/2024 5.54 1.03 (14,873.40)(13,595.60) 384,772.40 96.19 07/30/24JPM_CHAS 400,000.00 254687FK7WALT DISNEY COMPANY/THE (CALLABLE) DTD 09/06/2019 1.750% 08/30/2024 5.41 0.99 (12,050.93)(17,138.45) 165,755.80 94.72 MERRILL 175,000.00 69371RQ66PACCAR FINANCIAL CORP CORPORATE NOTES DTD 02/06/2020 1.800% 02/06/2025 5.48 1.49 (3,946.29)(3,908.32) 76,010.88 95.01 02/01/25BARCLAY 80,000.00 025816CQ0AMERICAN EXPRESS CO CORP NOTES (CALLABLE DTD 03/04/2022 2.250% 03/04/2025 5.56 1.47 (19,527.48)(19,527.48) 390,472.52 95.24 02/10/25DEUTSCH 410,000.00 771196BT8ROCHE HOLDINGS INC (CALLABLE) CORPORATE DTD 03/10/2022 2.132% 03/10/2025 5.25 1.50 (972.43)(953.15) 24,003.10 96.01 03/15/25MORGAN_ 25,000.00 437076CM2HOME DEPOT INC (CALLABLE) CORPORATE NOTE DTD 03/28/2022 2.700% 04/15/2025 5.17 1.59 (16,992.84)(32,485.50) 217,253.25 96.56 MKTX 225,000.00 172967JP7CITIGROUP INC CORP NOTES DTD 04/27/2015 3.300% 04/27/2025 5.39 1.69 Page 21 For the Month Ending July 31, 2023Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration Corporate Note (2,078.54)(2,072.59) 62,913.11 96.79 04/01/25KEYBANC 65,000.00 17252MAP5CINTAS CORPORATION NO. 2 CORP NOTE (CALL DTD 05/03/2022 3.450% 05/01/2025 5.39 1.62 (7,297.87)(7,001.10) 217,263.15 96.56 MERRILL 225,000.00 90327QD89USAA CAPITAL CORP CORPORATE NOTES DTD 05/26/2022 3.375% 05/01/2025 5.46 1.70 (16,279.38)(33,489.22) 218,758.28 97.23 03/15/25JPM_CHA 225,000.00 369550BG2GENERAL DYNAMICS CORP (CALLABLE) CORP NO DTD 05/11/2018 3.500% 05/15/2025 5.14 1.58 (13,689.27)(13,689.27) 301,310.73 95.65 06/01/24JPM_CHA 315,000.00 46647PCH7JPMORGAN CHASE & CO (CALLABLE) CORP NOTE DTD 06/01/2021 0.824% 06/01/2025 3.28 0.83 (34,641.50)(34,494.50) 440,272.75 92.69 05/03/25GOLDMAN 475,000.00 023135BQ8AMAZON INC CORP NOTES (CALLABLE) DTD 06/03/2020 0.800% 06/03/2025 5.00 1.75 (8,241.75)(8,241.75) 241,758.25 96.70 CITIGRP 250,000.00 63254ABD9NATIONAL AUSTRALIA BK/NY CORPORATE NOTES DTD 06/09/2022 3.500% 06/09/2025 5.39 1.81 (1,819.14)(1,813.75) 48,172.75 96.35 RBC 50,000.00 63743HFE7NATIONAL RURAL UTIL COOP CORPORATE NOTES DTD 05/04/2022 3.450% 06/15/2025 5.53 1.82 (4,676.17)(4,676.17) 220,323.83 97.92 JPM_CHA 225,000.00 459200KS9IBM CORP CORPORATE NOTES DTD 07/27/2022 4.000% 07/27/2025 5.11 1.93 (19,888.81)(38,895.07) 218,023.43 96.90 MERRILL 225,000.00 06051GFS3BANK OF AMERICA CORP NOTES DTD 07/30/2015 3.875% 08/01/2025 5.53 1.91 (18,230.80)(38,022.07) 219,823.43 97.70 06/15/25US_BANC 225,000.00 002824BM1ABBOTT LABORATORIES CORPORATE NOTES (CAL DTD 03/22/2017 3.875% 09/15/2025 5.03 1.80 (13,842.00)(13,842.00) 211,158.00 93.85 12/06/24MERRILL 225,000.00 06051GKE8BANK OF AMERICA CORP NOTES (CALLABLE) DTD 12/06/2021 1.530% 12/06/2025 4.31 1.34 (7,807.97)(7,807.97) 167,192.03 95.54 02/24/25JPM_CHA 175,000.00 46647PCV6JPMORGAN CHASE & CO CORP NOTES (CALLABLE DTD 02/24/2022 2.595% 02/24/2026 4.45 1.53 Page 22 For the Month Ending July 31, 2023Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration Corporate Note (21,351.33)(21,178.57) 203,429.93 90.41 04/15/26CITIGRP 225,000.00 91324PEC2UNITEDHEALTH GROUP INC (CALLABLE) CORPOR DTD 05/19/2021 1.150% 05/15/2026 4.86 2.67 (18,461.75)(18,441.15) 156,506.35 89.43 07/12/26MITSU 175,000.00 05565EBW4BMW US CAPITAL LLC (CALLABLE) CORPORATE DTD 08/12/2021 1.250% 08/12/2026 5.05 2.88 (20,785.91)(20,433.37) 203,430.38 90.41 JPM_CHA 225,000.00 14913R2U0CATERPILLAR FINL SERVICE CORPORATE NOTES DTD 01/10/2022 1.700% 01/08/2027 4.75 3.35 (3,299.25)(3,278.52) 36,653.48 91.63 12/15/26CITIGRP 40,000.00 87612EBM7TARGET CORP CORP NOTES (CALLABLE) DTD 01/24/2022 1.950% 01/15/2027 4.59 3.27 (45,658.14)(45,340.17) 428,605.33 90.23 12/26/26DEUTSCH 475,000.00 06406RBA4BANK OF NY MELLON CORP (CALLABLE) CORPOR DTD 01/26/2022 2.050% 01/26/2027 5.14 3.30 (5,273.40)(2,570.25) 719,372.25 95.92 11/06/26GOLDMAN 750,000.00 594918BY9MICROSOFT CORP CORP NOTES (CALLABLE) DTD 02/06/2017 3.300% 02/06/2027 4.57 3.07 (6,095.80)(3,144.00) 274,059.00 91.35 02/01/27RBS 300,000.00 025816CS6AMERICAN EXPRESS CO CORP NOTES (CALLABLE DTD 03/04/2022 2.550% 03/04/2027 5.22 3.33 (26,703.60)(24,251.12) 441,837.88 93.02 02/15/27SEEL 475,000.00 084664CZ2BERKSHIRE HATHAWAY CORP NOTES (CALLABLE) DTD 03/15/2022 2.300% 03/15/2027 4.40 3.38 (6,955.97)(5,346.90) 279,578.10 93.19 01/01/27BARCLAY 300,000.00 808513BW4CHARLES SCHWAB CORP NOTES (CALLABLE) DTD 09/24/2021 3.300% 04/01/2027 5.37 3.22 (9,553.23)(8,133.00) 480,192.00 96.04 CBAA 500,000.00 63254ABE7NATIONAL AUSTRALIA BK/NY CORPORATE NOTES DTD 06/09/2022 3.905% 06/09/2027 5.05 3.59 (18,002.79)(14,194.12) 726,868.63 93.79 06/12/27TD 775,000.00 037833DB3APPLE INC (CALLABLE) BONDS DTD 09/12/2017 2.900% 09/12/2027 4.57 3.64 (2,395.37)(2,518.12) 373,764.38 99.67 WELLS_F 375,000.00 89236TKQ7TOYOTA MOTOR CREDIT CORP CORPORATE NOTES DTD 01/12/2023 4.625% 01/12/2028 4.71 4.06 Page 23 For the Month Ending July 31, 2023Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration Corporate Note (4,209.88)(2,371.25) 326,817.75 93.38 11/07/27MORGAN_ 350,000.00 637432NP6NATIONAL RURAL UTIL COOP CORP NOTES (CAL DTD 02/07/2018 3.400% 02/07/2028 5.06 3.93 (1,885.24)(1,975.23) 85,068.17 100.08 01/15/28JPM_CHA 85,000.00 882508BV5TEXAS INSTRUMENTS INC CORP NOTE (CALLABL DTD 11/18/2022 4.600% 02/15/2028 4.58 4.00 3,058.76 4,366.13 362,629.88 96.70 11/20/27MKTX 375,000.00 110122DE5BRISTOL-MYERS SQUIBB CO CORP NOTES (CALL DTD 07/15/2020 3.900% 02/20/2028 4.71 3.93 (436.04)(432.00) 59,460.00 99.10 04/15/28BARCLAY 60,000.00 539830BZ1LOCKHEED MARTIN CORP NOTES (CALLABLE) DTD 05/25/2023 4.450% 05/15/2028 4.66 4.33 (894.58)(905.62) 376,959.38 100.52 CITIGRP 375,000.00 24422EXB0JOHN DEERE CAPITAL CORP CORPORATE NOTES DTD 07/14/2023 4.950% 07/14/2028 4.83 4.45 (546,545.80) 5.05 (454,452.99) 11,302,854.50 11,840,000.00 Security Type Sub-Total 2.37 Certificate of Deposit (250.29)(250.29) 449,749.71 99.94 TD 450,000.00 89115B6K1TORONTO DOMINION BANK NY CERT DEPOS DTD 10/31/2022 5.600% 10/27/2025 5.59 2.93 (3,802.50)(3,802.50) 446,197.50 99.16 WELLS_F 450,000.00 65558UYF3NORDEA BANK ABP NEW YORK CERT DEPOS DTD 11/03/2022 5.530% 11/03/2025 5.93 2.13 (4,052.79) 5.76 (4,052.79) 895,947.21 900,000.00 Security Type Sub-Total 2.53 Asset-Backed Security (222.77)(221.15) 34,775.90 99.36 SOCGEN 35,000.00 380144AD7GMALT 2021-2 A4 DTD 05/26/2021 0.410% 05/20/2025 0.77 0.14 (967.25)(965.07) 39,327.55 97.59 BARCLAY 40,296.85 44933LAC7HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 1.53 0.44 Page 24 For the Month Ending July 31, 2023Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration Asset-Backed Security (6,050.31)(6,048.61) 199,875.89 97.06 MITSU 205,927.99 65480BAC1NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 1.69 0.57 (6,576.15)(6,565.37) 201,349.82 96.83 CITIGRP 207,937.59 89190GAC1TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 1.67 0.57 (3,543.92)(3,535.60) 93,934.08 96.35 MERRILL 97,490.23 43815GAC3HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026 2.40 0.78 (2,268.64)(2,261.76) 65,351.77 96.63 MERRILL 67,628.11 14314QAC8CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 1.87 0.59 (2,825.10)(2,818.48) 75,391.55 96.37 SMBC 78,227.49 44935FAD6HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 2.08 0.73 (10,594.96)(10,579.47) 184,378.78 94.55 CITIGRP 195,000.00 254683CP8DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026 2.39 1.10 (3,343.68)(3,342.92) 78,782.23 95.93 JPM_CHA 82,127.25 362554AC1GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 2.02 0.82 (4,801.42)(4,800.34) 205,194.70 97.71 RBC 210,000.00 14318MAD1CARMX 2022-3 A3 DTD 07/20/2022 3.970% 04/15/2027 4.64 1.31 (2,225.60)(2,220.34) 137,750.69 98.39 WELLS_F 140,000.00 65480JAC4NAROT 2022-B A3 DTD 09/28/2022 4.460% 05/17/2027 4.92 1.65 (2,555.42)(2,547.96) 272,406.97 99.06 RBC 275,000.00 36265QAD8GMCAR 2022-4 A3 DTD 10/12/2022 4.820% 08/16/2027 5.08 1.67 (3,205.18)(3,205.17) 241,794.71 98.69 MERRILL 245,000.00 891940AC2TAOT 2023-A A3 DTD 01/30/2023 4.630% 09/15/2027 4.98 1.65 (1,354.09)(1,348.33) 243,613.23 99.43 RBC 245,000.00 14041NGB1COMET 2022-A3 A DTD 11/03/2022 4.950% 10/15/2027 5.10 2.05 (1,360.73)(1,359.18) 168,623.70 99.19 JPM_CHA 170,000.00 41285JAD0HDMOT 2023-A A3 DTD 02/23/2023 5.050% 12/15/2027 5.26 1.86 (1,615.29)(1,614.35) 128,372.09 98.75 BNP_PAR 130,000.00 344928AD8FORDO 2023-A A3 DTD 03/31/2023 4.650% 02/15/2028 4.96 2.05 (6,181.53)(6,180.38) 313,801.06 98.06 RBC 320,000.00 254683CY9DCENT 2023-A1 A DTD 04/11/2023 4.310% 03/15/2028 4.78 2.43 (1,660.20)(1,659.21) 168,302.30 99.00 MERRILL 170,000.00 05522RDG0BACCT 2023-A1 A1 DTD 06/16/2023 4.790% 05/15/2028 5.02 2.55 (749.77)(749.32) 189,233.83 99.60 RBC 190,000.00 02582JJZ4AMXCA 2023-1 A DTD 06/14/2023 4.870% 05/15/2028 4.96 2.56 Page 25 For the Month Ending July 31, 2023Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Value On Cost Amort CostCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/LNext Call MarketSecurity Type/Description YTMEffective Duration Asset-Backed Security (8,491.99)(8,487.73) 481,399.91 98.24 RBC 490,000.00 14041NGD7COMET 2023-A1 A DTD 05/24/2023 4.420% 05/15/2028 4.83 2.57 (1,401.24)(1,400.35) 348,552.37 99.59 MERRILL 350,000.00 254683CZ6DCENT 2023-A2 A DTD 06/28/2023 4.930% 06/15/2028 5.03 2.62 (71,911.09) 4.19 (71,995.24) 3,872,213.13 3,944,635.51 Security Type Sub-Total 1.79 53,374,635.51 50,264,323.24 (1,602,786.60) (1,779,506.69) 4.77 Managed Account Sub-Total 2.53 Joint Powers Authority 0.00 0.00 51,530.66 1.00 51,530.66 CAMP Pool 0.00 51,530.66 51,530.66 0.00 0.00 Liquid Sub-Total 0.00 Total Investments $50,526,110.78 $210,256.88 $50,315,853.90 Accrued Interest Securities Sub-Total $53,426,166.17 ($1,602,786.60) ($1,779,506.69) 4.77% 2.53 Page 26 For the Month Ending July 31, 2023Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method BUY 07/07/23 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 91282CFB2 (565,640.63)(7,156.08)(572,796.71) 600,000.00 07/03/23 07/20/23 FHMS K505 A2 DTD 07/01/2023 4.819% 06/01/2028 3137HACX2 (555,493.40)(1,398.85)(556,892.25) 550,000.00 07/13/23 07/31/23 FNA 2023-M6 A2 DTD 07/01/2023 4.190% 07/01/2028 3136BQDE6 (540,675.78)(1,920.42)(542,596.20) 550,000.00 07/18/23 07/27/23 FHMS KJ46 A1 DTD 07/01/2023 4.777% 06/01/2028 3137HAD45 (439,989.00)(1,518.02)(441,507.02) 440,000.00 07/19/23 07/25/23 JOHN DEERE CAPITAL CORP CORPORATE NOTES DTD 07/14/2023 4.950% 07/14/2028 24422EXB0 (377,865.00)(567.19)(378,432.19) 375,000.00 07/21/23 (12,560.56) (2,492,224.37)(2,479,663.81) 2,515,000.00 Transaction Type Sub-Total INTEREST 07/01/23 CT ST TXBL GO BONDS DTD 06/11/2020 1.998% 07/01/2024 20772KJW0 0.00 599.40 599.40 60,000.00 07/01/23 07/01/23 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 341271AD6 0.00 1,949.90 1,949.90 310,000.00 07/01/23 07/25/23 FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024 3137BGK24 0.00 637.92 637.92 250,000.00 07/01/23 07/25/23 FHMS K054 A2 DTD 04/20/2016 2.745% 01/01/2026 3137BNGT5 0.00 629.06 629.06 275,000.00 07/01/23 07/25/23 FHLMC MULTIFAMILY STRUCTURED P DTD 07/01/2017 3.243% 04/01/2027 3137F1G44 0.00 1,486.38 1,486.38 550,000.00 07/01/23 07/25/23 FHMS K058 A2 DTD 11/09/2016 2.653% 08/01/2026 3137BSP72 0.00 1,215.96 1,215.96 550,000.00 07/01/23 07/25/23 FHMS K061 A2 DTD 01/30/2017 3.347% 11/01/2026 3137BTUM1 0.00 1,059.88 1,059.88 380,000.00 07/01/23 07/08/23 CATERPILLAR FINL SERVICE CORPORATE NOTES DTD 01/10/2022 1.700% 01/08/2027 14913R2U0 0.00 1,912.50 1,912.50 225,000.00 07/08/23 Page 27 For the Month Ending July 31, 2023Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method INTEREST 07/08/23 GOLDMAN SACHS GROUP INC (CALLABLE) BONDS DTD 07/08/2014 3.850% 07/08/2024 38141EC23 0.00 7,700.00 7,700.00 400,000.00 07/08/23 07/12/23 TOYOTA MOTOR CREDIT CORP CORPORATE NOTES DTD 01/12/2023 4.625% 01/12/2028 89236TKQ7 0.00 8,671.88 8,671.88 375,000.00 07/12/23 07/15/23 HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 44933LAC7 0.00 14.06 14.06 44,391.84 07/15/23 07/15/23 FORDO 2023-A A3 DTD 03/31/2023 4.650% 02/15/2028 344928AD8 0.00 503.75 503.75 130,000.00 07/15/23 07/15/23 COMET 2022-A3 A DTD 11/03/2022 4.950% 10/15/2027 14041NGB1 0.00 1,010.63 1,010.63 245,000.00 07/15/23 07/15/23 CARMX 2022-3 A3 DTD 07/20/2022 3.970% 04/15/2027 14318MAD1 0.00 694.75 694.75 210,000.00 07/15/23 07/15/23 COMET 2023-A1 A DTD 05/24/2023 4.420% 05/15/2028 14041NGD7 0.00 3,068.22 3,068.22 490,000.00 07/15/23 07/15/23 DCENT 2023-A1 A DTD 04/11/2023 4.310% 03/15/2028 254683CY9 0.00 1,149.33 1,149.33 320,000.00 07/15/23 07/15/23 TARGET CORP CORP NOTES (CALLABLE) DTD 01/24/2022 1.950% 01/15/2027 87612EBM7 0.00 390.00 390.00 40,000.00 07/15/23 07/15/23 HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 44935FAD6 0.00 49.33 49.33 80,000.00 07/15/23 07/15/23 HDMOT 2023-A A3 DTD 02/23/2023 5.050% 12/15/2027 41285JAD0 0.00 715.42 715.42 170,000.00 07/15/23 07/15/23 AMXCA 2023-1 A DTD 06/14/2023 4.870% 05/15/2028 02582JJZ4 0.00 796.79 796.79 190,000.00 07/15/23 07/15/23 NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 65480BAC1 0.00 61.18 61.18 222,479.99 07/15/23 07/15/23 DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026 254683CP8 0.00 94.25 94.25 195,000.00 07/15/23 07/15/23 CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 14314QAC8 0.00 31.52 31.52 72,749.48 07/15/23 Page 28 For the Month Ending July 31, 2023Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method INTEREST 07/15/23 DCENT 2023-A2 A DTD 06/28/2023 4.930% 06/15/2028 254683CZ6 0.00 814.82 814.82 350,000.00 07/15/23 07/15/23 TAOT 2023-A A3 DTD 01/30/2023 4.630% 09/15/2027 891940AC2 0.00 945.29 945.29 245,000.00 07/15/23 07/15/23 TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 89190GAC1 0.00 48.67 48.67 224,608.57 07/15/23 07/15/23 NAROT 2022-B A3 DTD 09/28/2022 4.460% 05/17/2027 65480JAC4 0.00 520.33 520.33 140,000.00 07/15/23 07/16/23 GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 362554AC1 0.00 48.17 48.17 85,000.00 07/16/23 07/16/23 GMCAR 2022-4 A3 DTD 10/12/2022 4.820% 08/16/2027 36265QAD8 0.00 1,104.58 1,104.58 275,000.00 07/16/23 07/20/23 GMALT 2021-2 A4 DTD 05/26/2021 0.410% 05/20/2025 380144AD7 0.00 11.96 11.96 35,000.00 07/20/23 07/21/23 HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026 43815GAC3 0.00 73.33 73.33 100,000.00 07/21/23 07/21/23 FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025 3137EAEU9 0.00 796.88 796.88 425,000.00 07/21/23 07/23/23 PNC BANK NA CORP NOTES (CALLABLE) DTD 01/23/2019 3.500% 01/23/2024 693475AV7 0.00 7,000.00 7,000.00 400,000.00 07/23/23 07/26/23 BANK OF NY MELLON CORP (CALLABLE) CORPOR DTD 01/26/2022 2.050% 01/26/2027 06406RBA4 0.00 4,868.75 4,868.75 475,000.00 07/26/23 07/27/23 IBM CORP CORPORATE NOTES DTD 07/27/2022 4.000% 07/27/2025 459200KS9 0.00 4,500.00 4,500.00 225,000.00 07/27/23 07/31/23 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 91282CCP4 0.00 11,875.00 11,875.00 3,800,000.00 07/31/23 07/31/23 US TREASURY N/B NOTES DTD 01/31/2022 0.875% 01/31/2024 91282CDV0 0.00 7,656.25 7,656.25 1,750,000.00 07/31/23 07/31/23 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 91282CFB2 0.00 35,750.00 35,750.00 2,600,000.00 07/31/23 110,456.14 110,456.14 0.00 16,914,229.88 Transaction Type Sub-Total PAYDOWNS Page 29 For the Month Ending July 31, 2023Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method PAYDOWNS 07/15/23 HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 44933LAC7 4,094.99 0.00 4,094.99 0.43 0.00 4,094.99 07/15/23 07/15/23 HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 44935FAD6 1,772.51 0.00 1,772.51 0.40 0.00 1,772.51 07/15/23 07/15/23 NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 65480BAC1 16,552.00 0.00 16,552.00 0.28 0.00 16,552.00 07/15/23 07/15/23 CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 14314QAC8 5,121.37 0.00 5,121.37 1.10 0.00 5,121.37 07/15/23 07/15/23 TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 89190GAC1 16,670.98 0.00 16,670.98 1.80 0.00 16,670.98 07/15/23 07/16/23 GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 362554AC1 2,872.75 0.00 2,872.75 0.07 0.00 2,872.75 07/16/23 07/21/23 HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026 43815GAC3 2,509.77 0.00 2,509.77 0.53 0.00 2,509.77 07/21/23 0.00 0.00 4.61 49,594.37 49,594.37 49,594.37 Transaction Type Sub-Total SELL 07/07/23 FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 3137EAEW5 223,044.75 185.94 223,230.69 (1,996.34)(1,957.61)FIFO 225,000.00 07/03/23 07/07/23 FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 3137EAEW5 272,610.25 227.25 272,837.50 (2,299.00)(2,384.55)FIFO 275,000.00 07/03/23 07/20/23 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 91282CBC4 317,666.01 71.33 317,737.34 (27,193.37)(29,575.68)FIFO 350,000.00 07/13/23 07/20/23 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 91282CBC4 113,452.15 25.48 113,477.63 (10,483.40)(10,955.75)FIFO 125,000.00 07/13/23 07/20/23 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 91282CBC4 136,142.58 30.57 136,173.15 (10,910.15)(12,247.04)FIFO 150,000.00 07/13/23 07/25/23 US TREASURY N/B NOTES DTD 01/31/2022 0.875% 01/31/2024 91282CDV0 537,603.52 2,326.48 539,930.00 8,572.27 (1,884.44)FIFO 550,000.00 07/18/23 07/26/23 US TREASURY N/B NOTES DTD 01/31/2022 0.875% 01/31/2024 91282CDV0 293,261.72 1,276.24 294,537.96 4,699.22 (1,034.62)FIFO 300,000.00 07/19/23 07/25/23 JOHN DEERE CAPITAL CORP CORPORATE NOTES DTD 09/10/2021 0.625% 09/10/2024 24422EVU0 94,796.00 234.38 95,030.38 (5,139.00)(5,179.51)FIFO 100,000.00 07/21/23 Page 30 For the Month Ending July 31, 2023Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method SELL 07/25/23 US TREASURY N/B NOTES DTD 01/31/2022 0.875% 01/31/2024 91282CDV0 293,167.97 1,268.99 294,436.96 4,605.47 (1,098.19)FIFO 300,000.00 07/21/23 5,646.66 (66,317.39)(40,144.30) 2,287,391.61 2,281,744.95 2,375,000.00 Transaction Type Sub-Total (148,324.49) 103,542.24 (44,782.25) (40,139.69) (66,317.39)Managed Account Sub-Total Total Security Transactions ($40,139.69)($44,782.25)$103,542.24 ($148,324.49)($66,317.39) Page 31 For the Month Ending July 31, 2023Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 99,538.78 Opening Balance 07/03/23 07/03/23 Purchase - Interest 20772KJW0 1.00 599.40 100,138.18 07/03/23 07/03/23 Purchase - Interest 341271AD6 1.00 1,949.90 102,088.08 07/07/23 07/07/23 Purchase - Principal 3137EAEW5 1.00 495,655.00 597,743.08 07/07/23 07/07/23 Purchase - Interest 3137EAEW5 1.00 413.19 598,156.27 07/07/23 07/07/23 Redemption - Interest 91282CFB2 1.00 (7,156.08) 591,000.19 07/07/23 07/07/23 Redemption - Principal 91282CFB2 1.00 (565,640.63) 25,359.56 07/10/23 07/10/23 Purchase - Interest 14913R2U0 1.00 1,912.50 27,272.06 07/10/23 07/10/23 Purchase - Interest 38141EC23 1.00 7,700.00 34,972.06 07/12/23 07/12/23 Purchase - Interest 89236TKQ7 1.00 8,671.88 43,643.94 07/17/23 07/17/23 Purchase - Interest 87612EBM7 1.00 390.00 44,033.94 07/17/23 07/17/23 Purchase - Interest 891940AC2 1.00 945.29 44,979.23 07/17/23 07/17/23 Purchase - Interest 89190GAC1 1.00 48.67 45,027.90 07/17/23 07/17/23 Purchase - Interest 65480JAC4 1.00 520.33 45,548.23 07/17/23 07/17/23 Purchase - Interest 65480BAC1 1.00 61.18 45,609.41 07/17/23 07/17/23 Purchase - Interest 44935FAD6 1.00 49.33 45,658.74 07/17/23 07/17/23 Purchase - Interest 44933LAC7 1.00 14.06 45,672.80 07/17/23 07/17/23 Purchase - Interest 41285JAD0 1.00 715.42 46,388.22 07/17/23 07/17/23 Purchase - Interest 36265QAD8 1.00 1,104.58 47,492.80 07/17/23 07/17/23 Purchase - Interest 362554AC1 1.00 48.17 47,540.97 07/17/23 07/17/23 Purchase - Interest 344928AD8 1.00 503.75 48,044.72 07/17/23 07/17/23 Purchase - Interest 254683CZ6 1.00 814.82 48,859.54 Page 32 For the Month Ending July 31, 2023Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 07/17/23 07/17/23 Purchase - Interest 254683CY9 1.00 1,149.33 50,008.87 07/17/23 07/17/23 Purchase - Interest 254683CP8 1.00 94.25 50,103.12 07/17/23 07/17/23 Purchase - Interest 14318MAD1 1.00 694.75 50,797.87 07/17/23 07/17/23 Purchase - Interest 14314QAC8 1.00 31.52 50,829.39 07/17/23 07/17/23 Purchase - Interest 14041NGD7 1.00 3,068.22 53,897.61 07/17/23 07/17/23 Purchase - Interest 14041NGB1 1.00 1,010.63 54,908.24 07/17/23 07/17/23 Purchase - Interest 02582JJZ4 1.00 796.79 55,705.03 07/17/23 07/17/23 Purchase - Principal 14314QAC8 1.00 5,121.37 60,826.40 07/17/23 07/17/23 Purchase - Principal 44933LAC7 1.00 4,094.99 64,921.39 07/17/23 07/17/23 Purchase - Principal 89190GAC1 1.00 16,670.98 81,592.37 07/17/23 07/17/23 Purchase - Principal 362554AC1 1.00 2,872.75 84,465.12 07/17/23 07/17/23 Purchase - Principal 65480BAC1 1.00 16,552.00 101,017.12 07/17/23 07/17/23 Purchase - Principal 44935FAD6 1.00 1,772.51 102,789.63 07/20/23 07/20/23 Purchase - Interest 380144AD7 1.00 11.96 102,801.59 07/20/23 07/20/23 Purchase - Interest 91282CBC4 1.00 127.38 102,928.97 07/20/23 07/20/23 Purchase - Principal 91282CBC4 1.00 567,260.74 670,189.71 07/20/23 07/20/23 Redemption - Principal 3137HACX2 1.00 (555,493.40) 114,696.31 07/20/23 07/20/23 Redemption - Interest 3137HACX2 1.00 (1,398.85) 113,297.46 07/21/23 07/21/23 Purchase - Interest 3137EAEU9 1.00 796.88 114,094.34 07/21/23 07/21/23 Purchase - Interest 43815GAC3 1.00 73.33 114,167.67 07/21/23 07/21/23 Purchase - Principal 43815GAC3 1.00 2,509.77 116,677.44 07/24/23 07/24/23 Purchase - Interest 693475AV7 1.00 7,000.00 123,677.44 Page 33 For the Month Ending July 31, 2023Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 07/25/23 07/25/23 Purchase - Interest 3137F1G44 1.00 1,486.38 125,163.82 07/25/23 07/25/23 Purchase - Interest 3137BTUM1 1.00 1,059.88 126,223.70 07/25/23 07/25/23 Purchase - Interest 3137BSP72 1.00 1,215.96 127,439.66 07/25/23 07/25/23 Purchase - Interest 3137BNGT5 1.00 629.06 128,068.72 07/25/23 07/25/23 Purchase - Interest 3137BGK24 1.00 637.92 128,706.64 07/25/23 07/25/23 Purchase - Principal 91282CDV0 1.00 537,603.52 666,310.16 07/25/23 07/25/23 Purchase - Interest 91282CDV0 1.00 1,268.99 667,579.15 07/25/23 07/25/23 Purchase - Principal 91282CDV0 1.00 293,167.97 960,747.12 07/25/23 07/25/23 Purchase - Interest 91282CDV0 1.00 2,326.48 963,073.60 07/25/23 07/25/23 Purchase - Principal 24422EVU0 1.00 94,796.00 1,057,869.60 07/25/23 07/25/23 Purchase - Interest 24422EVU0 1.00 234.38 1,058,103.98 07/25/23 07/25/23 Redemption - Interest 24422EXB0 1.00 (567.19) 1,057,536.79 07/25/23 07/25/23 Redemption - Principal 24422EXB0 1.00 (377,865.00) 679,671.79 07/26/23 07/26/23 Purchase - Interest 06406RBA4 1.00 4,868.75 684,540.54 07/26/23 07/26/23 Purchase - Interest 91282CDV0 1.00 1,276.24 685,816.78 07/26/23 07/26/23 Purchase - Principal 91282CDV0 1.00 293,261.72 979,078.50 07/26/23 07/26/23 IP Fees June 2023 1.00 (3,840.10) 975,238.40 07/26/23 07/26/23 U.S. Bank Fees May 2023 1.00 (227.25) 975,011.15 07/27/23 07/27/23 Purchase - Interest 459200KS9 1.00 4,500.00 979,511.15 07/27/23 07/27/23 Redemption - Interest 3137HAD45 1.00 (1,518.02) 977,993.13 07/27/23 07/27/23 Redemption - Principal 3137HAD45 1.00 (439,989.00) 538,004.13 07/31/23 07/31/23 Purchase - Interest 91282CCP4 1.00 11,875.00 549,879.13 Page 34 For the Month Ending July 31, 2023Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 07/31/23 07/31/23 Purchase - Interest 91282CDV0 1.00 7,656.25 557,535.38 07/31/23 07/31/23 Purchase - Interest 91282CFB2 1.00 35,750.00 593,285.38 07/31/23 07/31/23 Redemption - Principal 3136BQDE6 1.00 (540,675.78) 52,609.60 07/31/23 07/31/23 Redemption - Interest 3136BQDE6 1.00 (1,920.42) 50,689.18 07/31/23 08/01/23 Accrual Income Div Reinvestment - Distributions 1.00 841.48 51,530.66 51,530.66 51,530.66 51,530.66 184,686.41 25,016.63 0.00 (29,918,220.53) 29,922,880.78 46,870.41 841.48 51,530.66 0.00 (2,496,291.72) 2,448,283.60 99,538.78 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 July January-July 5.31% Page 35 Review of Investment Performance CAMP Accounts Investment Performance ReviewFor the Quarter Ended June 30, 2023PFM Asset Management LLCNOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUEFor Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general publicCity of Lake Elsinore © PFM Asset Management LLC pfmam.com|Market Update PFM Asset Management LLCFor the Quarter Ended March 31, 2022California Affiliated Risk Management AuthoritiesMarketUpdate▸The U.S. economy is characterized by:▹Headline inflation numbers trending lower, but the Fed’s current focus, “supercore inflation,” isshowing little sign of slowing▹A labor market that has proven to be exceptionally strong▹A more optimistic sentiment around economic growth due to resilient consumer spending▸Fed temporarily pauses rate hikes▹The most aggressive series of interest rate hikes in recent history has come to a temporarypause in June▹The Fed’s most recent dot plot shows the potential for two additional rate hikes by the end ofthe year▹Rates have moved up due to the Fed’s rate trajectory shifting higher, the economy remainingstronger than expected, persistent inflation, and the market’s “higher-for-longer” mindset▸Bond markets see continued volatility▹The debt ceiling saga incited a separate spate of market volatility due to concern about apotential U.S. default▹After plummeting at the end of Q1 due to volatility in the banking sector, short and medium-term yields steadily climbed throughout the quarter, with the 2-year rising over 100 basispoints▹The curve inversion fell dramatically at the start of Q2, but moved toward historic levels inJuneCLIENT NAMEFor the Quarter Ended June 30, 2023MarketUpdate© PFM Asset Management LLC |pfmam.comCurrent Market ThemesCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Market Update© PFM Asset Management LLC pfmam.com|1 Inflation Measures Remain Above Fed’s Target3.8%4.6%4.5%0%1%2%3%4%5%6%7%8%Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23The Fed’s Key Inflation RatePersonal Consumption Expenditure Price Index, Year-over-yearPCECore PCESupercore PCESource: Federal Reserve, Bloomberg, Bureau of Economic Analysis as of May 2023.“Supercore” inflation, which tracks inflation among labor-intensive services, has been at the center of the Fed’s attention.Like core PCE, it strips out food and energy costs from headline PCE, but also removes housing costs.Fed’s long-term targetFor the Quarter Ended March 31, 2022California Affiliated Risk Management AuthoritiesMarketUpdateCLIENT NAMEFor the Quarter Ended June 30, 2023MarketUpdate© PFM Asset Management LLC |pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Market Update© PFM Asset Management LLC pfmam.com|2 Consumers Have Been Spending More on Services1.9%0.3%0.1%0.6%0.1%3.4%-0.1%-1.0%0.9%-0.5%1.2%0.4%0.7%0.5%0.4%-1.5%-1.0%-0.5%0.0%0.5%1.0%1.5%2.0%2.5%3.0%3.5%4.0%January-23February-23March-23April-23May-23Change in Consumer SpendingMonth-over-monthConsumer SpendingGoodsServicesPFM Asset Management LLC© PFM Asset Management LLC |pfmam.comFor the Quarter Ended March 31, 2022California Affiliated Risk Management AuthoritiesMarketUpdateCLIENT NAMEFor the Quarter Ended June 30, 2023MarketUpdateSource: Bloomberg, Bureau of Economic Analysis as of May 2023.CITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Market Update© PFM Asset Management LLC pfmam.com|3 3.2%2.5%2.1%2.0%0%1%2%3%4%5%6%202320242025LongerRunPCE InflationMarch ProjectionsJune Projections4.1%4.5% 4.5%4.0%0%2%4%6%8%10%2023 2024 2025 LongerRunUnemployment RateMarch ProjectionsJune ProjectionsFed’s Updated June Projections Reflect Stronger Economic Expectations for 2023Source: Federal Reserve, latest economic projections as of June 2023.5.6%4.6%3.4%2.5%0%2%4%6%8%2023 2024 2025 LongerRunFederal Funds RateMarch ProjectionsJune Projections© PFM Asset Management LLC |pfmam.comFor the Quarter Ended March 31, 2022California Affiliated Risk Management AuthoritiesMarketUpdateCLIENT NAMEFor the Quarter Ended June 30, 2023MarketUpdate1.0%1.1%1.8% 1.8%0%1%2%3%4%202320242025LongerRunChange in Real GDPMarch ProjectionsJune ProjectionsCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Market Update© PFM Asset Management LLC pfmam.com|4 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18Once the Fed reaches their peak Fed Funds rate, they have historically held rates at that level for around 8 months-5.0%-4.5%-4.0%-3.5%-3.0%-2.5%-2.0%-1.5%-1.0%-0.5%0.0%Change from Highest Rate In CycleFederal Funds Rate CyclesPeaks of previous Fed rate cycles, indexed to 0%Months afterrates peakMonthsbefore rates peak2015How Long Have Rates Stayed at the Peak?Source: Federal Reserve, Bloomberg.1988200419941999average length at peak© PFM Asset Management LLC |pfmam.comFor the Quarter Ended March 31, 2022California Affiliated Risk Management AuthoritiesMarketUpdateCLIENT NAMEFor the Quarter Ended June 30, 2023MarketUpdateCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Market Update© PFM Asset Management LLC pfmam.com|5 Interest Rates Rise as “Higher-for-Longer” Mantra Sets In5.28%4.90%4.16%3.84%3.86%0.0%1.0%2.0%3.0%4.0%5.0%6.0%YieldMaturityU.S. Treasury Yield CurveJune 30, 2023March 31, 20233-Month 2-Year5-Year10-Year30-Year0.59%0.55%0.80%0.87%0.74%0.58%0.46%0.37%0.21%0.00%0.20%0.40%0.60%0.80%1.00%3-Month 6-Month 12-Month 2-Year 3-Year 5-Year 7-Year 10-Year 30-YearYield Changes by Maturityfrom March 31 – June 30, 2023© PFM Asset Management LLC |pfmam.comFor the Quarter Ended March 31, 2022California Affiliated Risk Management AuthoritiesMarketUpdateCLIENT NAMEFor the Quarter Ended June 30, 2023MarketUpdateSource: Bloomberg, as of 06/30/2023.CITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Market Update© PFM Asset Management LLC pfmam.com|6 Treasury YieldsMove Upward on Expectation for Future Rate Increases0.0%1.0%2.0%3.0%4.0%5.0%6.0%Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-232-Year Treasury Yield0.0%1.0%2.0%3.0%4.0%5.0%6.0%Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-2310-Year Treasury Yield+0.87%3/314.03%6/304.90%+0.37%3/313.47%6/303.84%PFM Asset Management LLC© PFM Asset Management LLC |pfmam.comFor the Quarter Ended March 31, 2022California Affiliated Risk Management AuthoritiesMarketUpdateCLIENT NAMEFor the Quarter Ended June 30, 2023MarketUpdateSource: Bloomberg, as of 06/30/2023.CITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Market Update© PFM Asset Management LLC pfmam.com|7 Sector Yield Spreads0.0%0.2%0.4%0.6%0.8%Jun-22 Sep-22 Dec-22 Mar-23 Jun-23Federal Agency Yield SpreadsBulletCallable0.0%0.2%0.4%0.6%0.8%1.0%1.2%Jun-22 Sep-22 Dec-22 Mar-23 Jun-23Corporate Notes A-AAA Yield Spreads0.0%0.5%1.0%1.5%2.0%Jun-22 Sep-22 Dec-22 Mar-23 Jun-23Mortgage-Backed Securities Yield SpreadsAgency MBSAAA CMBS Index0.0%0.5%1.0%1.5%Jun-22 Sep-22 Dec-22 Mar-23 Jun-23Asset-Backed Securities AAA Yield SpreadsPFM Asset Management LLC© PFM Asset Management LLC |pfmam.comFor the Quarter Ended March 31, 2022California Affiliated Risk Management AuthoritiesMarketUpdateCLIENT NAMEFor the Quarter Ended June 30, 2023MarketUpdateSource: ICE BofAML 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of 06/30/2023. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries. CMBS is Commercial Mortgage-Backed Securities.CITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Market Update© PFM Asset Management LLC pfmam.com|8 Fixed-Income Markets in Q2 2023-0.86%-0.39%0.29%-0.05%0.31%-1.0%-0.5%0.0%0.5%1.0%U.S. TreasuryAgencyABSCorp A-AAACorp BBB1-5 Year Indices Quarterly Returns0.85%0.83%1.35%1.76%2.25%0.0%0.5%1.0%1.5%2.0%2.5%U.S. TreasuryAgencyABSCorp A-AAACorp BBB10-Year Average1-5 Year IndicesPFM Asset Management LLC© PFM Asset Management LLC |pfmam.comFor the Quarter Ended March 31, 2022California Affiliated Risk Management AuthoritiesMarketUpdateCLIENT NAMEFor the Quarter Ended June 30, 2023MarketUpdateSource: ICE BofAML Indices. ABS indices are 0-5 year, based on weighted average life. As of 6/30/2023.CITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Market Update© PFM Asset Management LLC pfmam.com|9 © PFM Asset Management LLC pfmam.com|Portfolio Review © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Snapshot|Total market value includes accrued interest and balances invested in CAMP, as of June 30, 2023.Yield and duration calculations exclude balances invested in CAMP.The portfolio’s benchmark is the ICE BofA 1-5 Year U.S. Treasury Index. Source: Bloomberg.An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.1.Managed Portfolio Snapshot¹Credit Quality - S&P17%15%19%47%2%4%35%26%22%12%0%10%20%30%40%50%0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 YrsPortfolioBenchmarkDuration DistributionU.S. Treasury | 50%Corporate | 22%Federal Agency | 9%ABS | 8%Agency CMBS | 4%Municipal | 3%Supranational | 2%Negotiable CD | 2%Joint Powers Authority | <1%Sector AllocationAAA | 10%AAAm | <1%AA+ | 65%AA | 4%AA- | 4%A+ | 2%A | 3%A- | 8%BBB+ | 2%Not Rated | 2%Portfolio StatisticsPortfolio Effective Duration2.46 yearsBenchmark Effective Duration2.50 yearsPortfolio Credit QualityAAYield At Market4.76%Yield At Cost2.91%Total Market Value$50,373,604.35$50,049,438.56Managed Account Sub-Total$99,538.78Pool$224,627.01Accrued Interest10 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Account Summary|0.2%7.8%22.0%1.8%2.9%2.2%3.8%9.4%50.0%0.0%20.0%40.0%60.0%80.0%100.0%Joint Powers Authority - $99,539ABS - $3,923,025Corporate - $11,091,179Negotiable CD - $916,797Municipal - $1,448,415Supranational - $1,089,414Agency CMBS - $1,906,270Federal Agency - $4,735,841U.S. Treasury - $25,163,124Portfolio AllocationSector Limit for Analysis*Managed Portfolio Sector Allocation AnalyticsFor informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest.*Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided.11 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Compliance|Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM").Certificate of ComplianceDuring the reporting period for the quarter ended June 30, 2023, the account(s) managed by PFM Asset Management ("PFMAM")were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.Acknowledged :PFM Asset Management LLC12 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Activity|Managed Portfolio ActivityNet Activity by Sector($ millions)U.S. TreasurySupranationalCorporateABSAgency CMBSU.S. TreasurySupranationalCorporateABSAgency CMBS($4.0)($2.0)$0.0$2.0Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.SectorNet ActivityAgency CMBS$1,687,915ABS$1,301,322Corporate$147,945Supranational($245,000)U.S. Treasury($2,731,425)$160,757Total Net ActivitySales/Maturities Purchases13 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Characteristics|Managed Portfolio Historical Sector AllocationOnly includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM.56%9%1%3%3%2%22%5%Mar-2350%9%4%2%3%2%22%8%Jun-2314 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Performance|The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is September 30, 2010.1.Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.3.The portfolio’s benchmark is the ICE BofA 1-5 Year U.S. Treasury Index. Source: Bloomberg.4.-2.0%-1.5%-1.0%-0.5%0.0%0.5%1.0%1.5%ReturnPortfolioBenchmarkManaged Portfolio PerformanceMarket Value Basis Earnings3 Months1 Year3 Years5 Years10 Years¹Interest Earned²$241,808$672,260$1,624,309 $3,259,655 $5,495,302Change in Market Value($471,252) ($519,832) ($2,938,054)($809,992) ($1,407,816)($229,444)Total Dollar Return$152,428 ($1,313,745) $2,449,663 $4,087,486Total Return³Portfolio-0.45%0.19%-1.48%1.18%1.15%Benchmark⁴-0.86%-0.43%-1.79%0.90%0.85%3 Months1 Year3 Years5 Years10 YearsDifference0.41%0.62%0.31%0.28%0.29%15 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Performance|Performance on trade-date basis, gross (i.e., before fees), in accordance with the CFA Institute’s Global Investment Performance Standards (GIPS).1.Income returns calculated as interest earned on investments during the period.2.Price returns calculated as the change in market value of each security for the period.3.Returns are presented on a periodic basis.4.Quarterly Sector PerformanceTotal Return by SectorContribution to Total ReturnCashABSCorporateNegotiable CDMunicipalSupranationalAgency CMBSFederal AgencyU.S. Treasury-0.60%-0.40%-0.20%0.00%0.20%U.S. Treasury | -0.44%Federal Agency | 0.01%Agency CMBS | -0.02%Supranational | 0.01%Municipal | -0.01%Negotiable CD | 0.01%Corporate | -0.02%ABS | >-0.01%Cash | 0.01%Price Returns Income ReturnsReturn4.89%0.74%0.72%1.39%0.41%0.10%0.68%0.09%0.39%-0.77%-0.82%-0.79%-0.63%0.25%-1.88%-0.03%-1.20%-4.0% -1.8% 0.4% 2.6% 4.8% 7.0%Return16 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Performance|The lesser of 10 years or since inception is shown. Performance inception date is September 30, 2010.1.Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.Realized gains / (losses) are shown on an amortized cost basis.3.Accrual Basis Earnings Accrual Basis EarningsInterest Earned²Realized Gains / (Losses)³Change in Amortized CostTotal Earnings3 Months$241,808($55,000)$129,210$316,0181 Year$672,260($445,736)$262,563$489,0873 Years$1,624,309($21,846)$112,660$1,715,1245 Year$3,259,655$181,102$199,014$3,639,77110 Year¹$5,495,302$336,038($49,261)$5,782,07917 Fixed-Income Sector Outlook – 3Q 2023NegativeSlightly NegativeNeutral SlightlyPositivePositiveCurrent outlook Outlook one quarter agoSectorOur Investment PreferencesCO MMERC I AL PAPER/ CDT REASURIE ST-BillT-NoteF EDERAL AG ENCIE SBulletsCallablesSUPRAN AT I O N AL SCO RPO RAT ESFinancialsIndustrialsSECURIT IZ EDAsset-BackedAgency Mortgage-BackedAgency CMBSMUNICI PAL S© PFM Asset Management LLC |pfmam.comFor the Quarter Ended March 31, 2022California Affiliated Risk Management AuthoritiesMarketUpdateCLIENT NAMEFor the Quarter Ended June 30, 2023MarketUpdateCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Market Update© PFM Asset Management LLC pfmam.com|18 © PFM Asset Management LLC | pfmam.comIssuer Distribution © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Summary|Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balancesinvested in overnight funds.Issuer DiversificationMarket Value (%)S&P / Moody's / FitchSecurity Type / IssuerU.S. Treasury50.1%UNITED STATES TREASURY50.1% AA / Aaa / AAAFederal Agency9.4%FANNIE MAE3.1% AA / Aaa / AAAFEDERAL HOME LOAN BANKS0.9% AA / Aaa / NRFREDDIE MAC5.4% AA / Aaa / AAAAgency CMBS3.8%FREDDIE MAC3.8% AA / Aaa / AAASupranational2.2%INTER-AMERICAN DEVELOPMENT BANK1.2% AAA / Aaa / AAAINTL BANK OF RECONSTRUCTION AND DEV1.0% AAA / Aaa / AAAMunicipal2.9%CALIFORNIA STATE UNIVERSITY0.2% AA / Aa / NRCHAFFEY JOINT UNION HIGH SCHOOLDISTRICT0.2% AA / Aa / NRFLORIDA STATE BOARD OF ADMIN FIN CORP0.6% AA / Aa / AALOS ANGELES COMMUNITY COLLEGEDISTRICT0.3% AA / Aaa / NRNEW YORK ST URBAN DEVELOPMENT CORP0.6% NR / NR / AASAN JUAN UNIFIED SCHOOL DISTRICT0.2% NR / Aa / NRSTATE OF CALIFORNIA0.4% AA / Aa / AASTATE OF CONNECTICUT 0.1%AA / Aa / AASTATE OF MINNESOTA0.2% AAA / Aaa / AAAUNIVERSITY OF CALIFORNIA0.2%AA / Aa / AANegotiable CD1.8%NORDEA BANK ABP0.9%AA / Aa / AATORONTO-DOMINION BANK0.9%A / A / NRMarket Value (%)S&P / Moody's / FitchSecurity Type / IssuerCorporate22.1%ABBOTT LABORATORIES0.4%AA / Aa / NRAMAZON.COM INC0.9%AA / A / AAAMERICAN EXPRESS CO0.7%BBB / A / AAMERICAN HONDA FINANCE0.8%A / A / AAPPLE INC1.5%AA / Aaa / NRBANK OF AMERICA CO0.9%A / A / AABERKSHIRE HATHAWAY INC0.9%AA / Aa / ABMW FINANCIAL SERVICES NA LLC0.4%A / A / NRBRISTOL-MYERS SQUIBB CO0.7%A / A / NRCATERPILLAR INC0.4%A / A / ACHARLES SCHWAB0.8%A / A / ACINTAS CORPORATION NO. 20.1%A / A / NRCITIGROUP INC0.4%BBB / A / ADEERE & COMPANY0.2%A / A / AGENERAL DYNAMICS CORP0.4%A / A / NRGOLDMAN SACHS GROUP INC0.8%BBB / A / AHOME DEPOT INC0.0%A / A / AIBM CORP0.4%A / A / NRJP MORGAN CHASE & CO0.9%A / A / AALOCKHEED MARTIN CORP0.1%A / A / AMICROSOFT CORP1.5%AAA / Aaa / NRMORGAN STANLEY0.8%A / A / ANATIONAL AUSTRALIA BANK LTD1.4%AA / Aa / NRNATIONAL RURAL UTILITIES CO FINANCECORP0.8%A / A / APACCAR FINANCIAL CORP0.3%A / A / NRPNC FINANCIAL SERVICES GROUP0.8%A / A / A19 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Summary|Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balancesinvested in overnight funds.Issuer DiversificationMarket Value (%)S&P / Moody's / FitchSecurity Type / IssuerCorporate22.1%Roche Holding AG0.8% AA / Aa / AATARGET CORP0.1% A / A / ATEXAS INSTRUMENTS INC0.2%A / Aa / NRTHE BANK OF NEW YORK MELLONCORPORATION1.3%A / A / AATHE WALT DISNEY CORPORATION0.8%A / A / ATOYOTA MOTOR CORP0.8%A / A / AUNITEDHEALTH GROUP INC0.4%A / A / AUSAA CAPITAL CORP0.4%AA / Aa / NRABS7.8%AMERICAN EXPRESS CO0.4% AAA / NR / AAABANK OF AMERICA CO0.3% AAA / NR / AAACAPITAL ONE FINANCIAL CORP1.4% AAA / NR / AAACARMAX AUTO OWNER TRUST0.5% AAA / NR / AAADISCOVER FINANCIAL SERVICES1.7% AAA / Aaa / AAAFORD CREDIT AUTO OWNER TRUST0.3% AAA / NR / AAAGM FINANCIAL CONSUMER AUTOMOBILETRUST0.7% AAA / Aaa / AAAGM FINANCIAL LEASINGTRUST0.1% AAA / NR / AAAHARLEY-DAVIDSON MOTORCYCLE TRUST 0.3%NR / Aaa / AAAHONDA AUTO RECEIVABLES0.2%NR / Aaa / AAAHYUNDAI AUTO RECEIVABLES0.2% AAA / NR / AAANISSAN AUTO RECEIVABLES0.7%AAA / Aaa / NRTOYOTA MOTOR CORP0.9% AAA / NR / AAA100.0%Total20 © PFM Asset Management LLC | pfmam.comPortfolio Transactions © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionBUY4/4/2023 4/11/2023 320,000.00 254683CY9 DCENT 2023-A1 A4.31% 3/15/2028 319,981.44 4.31%4/6/2023 4/12/2023 550,000.00 3137BSP72 FHMS K058 A22.65% 8/1/2026 527,285.69 4.02%4/11/2023 4/14/2023 275,000.00 3137BNGT5 FHMS K054 A22.74% 1/1/2026 263,885.87 4.37%5/1/2023 5/5/2023 375,000.00 91282CFB2 US TREASURY N/B NOTES2.75% 7/31/2027 365,006.93 3.62%5/11/2023 5/18/2023 85,000.00 882508BV5 TEXAS INSTRUMENTS INC CORP NOTE (CALLABL 4.60% 2/15/2028 88,053.48 4.04%5/17/2023 5/24/2023 490,000.00 14041NGD7 COMET 2023-A1 A4.42% 5/15/2028 489,887.64 4.42%5/19/2023 5/24/2023 380,000.00 3137BTUM1 FHMS K061 A23.34% 11/1/2026 369,115.71 4.31%5/23/2023 5/25/2023 60,000.00 539830BZ1 LOCKHEED MARTIN CORP NOTES (CALLABLE) 4.45% 5/15/2028 59,892.00 4.49%6/2/2023 6/6/2023 825,000.00 91282CFB2 US TREASURY N/B NOTES2.75% 7/31/2027 794,676.05 3.97%6/7/2023 6/14/2023 190,000.00 02582JJZ4 AMXCA 2023-1 A4.87% 5/15/2028 189,983.15 4.87%6/8/2023 6/16/2023 170,000.00 05522RDG0 BACCT 2023-A1 A14.79% 5/15/2028 169,961.51 4.79%6/8/2023 6/13/2023 550,000.00 3137F1G44 FHLMC MULTIFAMILY STRUCTURED P3.24% 4/1/2027 527,627.75 4.44%6/21/2023 6/28/2023 350,000.00 254683CZ6 DCENT 2023-A2 A4.93% 6/15/2028 349,952.72 4.93%Total BUY4,620,000.004,515,309.940.00INTEREST4/1/2023 4/1/2023 300,000.00 808513BW4 CHARLES SCHWAB CORP NOTES (CALLABLE) 3.30% 4/1/20274,950.004/1/2023 4/25/2023 250,000.00 3137BGK24 FHMS K043 A23.06% 12/1/2024 637.9221 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionINTEREST4/14/2023 4/14/2023 350,000.00 3130AJHU6 FEDERAL HOME LOAN BANK NOTES0.50% 4/14/2025875.004/15/2023 4/15/2023 278,383.99 89190GAC1 TAOT 2021-B A30.26% 11/17/2025 60.324/15/2023 4/15/2023 80,000.00 44935FAD6 HART 2021-C A30.74% 5/15/2026 49.334/15/2023 4/15/2023 140,000.00 65480JAC4 NAROT 2022-B A34.46% 5/17/2027520.334/15/2023 4/15/2023 195,000.00 254683CP8 DCENT 2021-A1 A10.58% 9/15/202694.254/15/2023 4/15/2023 210,000.00 14318MAD1 CARMX 2022-3 A33.97% 4/15/2027694.754/15/2023 4/15/2023 170,000.00 41285JAD0 HDMOT 2023-A A35.05% 12/15/2027715.424/15/2023 4/15/2023 89,088.86 14314QAC8 CARMX 2021-2 A30.52% 2/17/2026 38.614/15/2023 4/15/2023 245,000.00 14041NGB1 COMET 2022-A3 A4.95% 10/15/2027 1,010.634/15/2023 4/15/2023 245,000.00 891940AC2 TAOT 2023-A A34.63% 9/15/2027 945.294/15/2023 4/15/2023 130,000.00 344928AD8 FORDO 2023-A A34.65% 2/15/2028 251.884/15/2023 4/15/2023 25,000.00 437076CM2 HOME DEPOT INC (CALLABLE) CORPORATE NOTE 2.70% 4/15/2025337.504/15/2023 4/15/2023 57,128.64 44933LAC7 HART 2021-A A30.38% 9/15/2025 18.094/15/2023 4/15/2023 273,072.88 65480BAC1 NAROT 2021-A A30.33% 10/15/202575.094/16/2023 4/16/2023 325,000.00 3137EAEY1 FREDDIE MAC NOTES0.12% 10/16/2023 203.134/16/2023 4/16/2023 85,000.00 362554AC1 GMCAR 2021-4 A30.68% 9/16/2026 48.174/16/2023 4/16/2023 275,000.00 36265QAD8 GMCAR 2022-4 A34.82% 8/16/2027 1,104.5822 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionINTEREST4/20/2023 4/20/2023 35,000.00 380144AD7 GMALT 2021-2 A40.41% 5/20/2025 11.964/20/2023 4/20/2023459058JV6 INTL BK OF RECON AND DEV NOTE0.12% 4/20/2023154.354/20/2023 4/20/2023 85,000.00 36261RAD0 GMALT 2021-1 A40.33% 2/20/2025 23.384/21/2023 4/21/2023 100,000.00 43815GAC3 HAROT 2021-4 A30.88% 1/21/2026 73.334/22/2023 4/22/2023 350,000.00 3135G03U5 FANNIE MAE NOTES0.62% 4/22/2025 1,093.754/26/2023 4/26/2023 210,000.00 06406RAS6 BANK OF NY MELLON CORP NOTES (CALLABLE) 0.50% 4/26/2024525.004/27/2023 4/27/2023 225,000.00 172967JP7 CITIGROUP INC CORP NOTES3.30% 4/27/2025 3,712.504/29/2023 4/29/2023 400,000.00 61746BDQ6 MORGAN STANLEY CORP NOTES3.87% 4/29/2024 7,750.004/30/2023 4/30/2023 1,025,000.00 91282CBW0 US TREASURY N/B NOTES0.75% 4/30/2026 3,843.754/30/2023 4/30/2023 1,200,000.00 91282CEN7 US TREASURY N/B NOTES2.75% 4/30/2027 16,500.005/1/2023 5/1/202385,000.00 13077DQD7 CA ST UNIV TXBL REV BONDS0.86% 11/1/2025366.355/1/2023 5/1/2023 225,000.00 90327QD89 USAA CAPITAL CORP CORPORATE NOTES3.37% 5/1/20253,796.885/1/2023 5/1/202365,000.00 17252MAP5 CINTAS CORPORATION NO. 2 CORP NOTE (CALL 3.45% 5/1/20251,121.255/1/2023 5/25/2023 250,000.00 3137BGK24 FHMS K043 A23.06% 12/1/2024 637.925/1/2023 5/25/2023 275,000.00 3137BNGT5 FHMS K054 A22.74% 1/1/2026 629.065/1/2023 5/25/2023 550,000.00 3137BSP72 FHMS K058 A22.65% 8/1/2026 1,215.965/3/2023 5/3/2023 450,000.00 65558UYF3 NORDEA BANK ABP NEW YORK CERT DEPOS5.53% 11/3/2025 12,442.5023 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionINTEREST5/6/2023 5/6/2023 350,000.00 3137EAEZ8 FREDDIE MAC NOTES0.25% 11/6/2023437.505/7/2023 5/7/2023 650,000.00 3135G06G3 FANNIE MAE NOTES0.50% 11/7/2025 1,625.005/15/2023 5/15/2023 85,000.00 91412HGE7 UNIV OF CAL TXBL REV BONDS0.88% 5/15/2025375.285/15/2023 5/15/2023 83,277.34 14314QAC8 CARMX 2021-2 A30.52% 2/17/2026 36.095/15/2023 5/15/2023 320,000.00 254683CY9 DCENT 2023-A1 A4.31% 3/15/2028 1,302.585/15/2023 5/15/2023 140,000.00 65480JAC4 NAROT 2022-B A34.46% 5/17/2027520.335/15/2023 5/15/2023 245,000.00 891940AC2 TAOT 2023-A A34.63% 9/15/2027 945.295/15/2023 5/15/2023 130,000.00 344928AD8 FORDO 2023-A A34.65% 2/15/2028 503.755/15/2023 5/15/2023 12,825,000.00 912828U24 US TREASURY NOTES2.00% 11/15/2026 128,250.005/15/2023 5/15/2023 225,000.00 369550BG2 GENERAL DYNAMICS CORP (CALLABLE) CORP NO 3.50% 5/15/2025 3,937.505/15/2023 5/15/2023 255,049.67 65480BAC1 NAROT 2021-A A30.33% 10/15/202570.145/15/2023 5/15/2023 210,000.00 14318MAD1 CARMX 2022-3 A33.97% 4/15/2027694.755/15/2023 5/15/2023 80,000.00 44935FAD6 HART 2021-C A30.74% 5/15/2026 49.335/15/2023 5/15/2023 170,000.00 41285JAD0 HDMOT 2023-A A35.05% 12/15/2027715.425/15/2023 5/15/2023 259,398.26 89190GAC1 TAOT 2021-B A30.26% 11/17/2025 56.205/15/2023 5/15/2023 52,611.70 44933LAC7 HART 2021-A A30.38% 9/15/2025 16.665/15/2023 5/15/2023 195,000.00 254683CP8 DCENT 2021-A1 A10.58% 9/15/202694.2524 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionINTEREST5/15/2023 5/15/2023 245,000.00 14041NGB1 COMET 2022-A3 A4.95% 10/15/2027 1,010.635/15/2023 5/15/2023 225,000.00 91324PEC2 UNITEDHEALTH GROUP INC (CALLABLE) CORPOR 1.15% 5/15/2026 1,293.755/16/2023 5/16/2023 85,000.00 362554AC1 GMCAR 2021-4 A30.68% 9/16/2026 48.175/16/2023 5/16/2023 275,000.00 36265QAD8 GMCAR 2022-4 A34.82% 8/16/2027 1,104.585/20/2023 5/20/2023 35,000.00 380144AD7 GMALT 2021-2 A40.41% 5/20/2025 11.965/20/2023 5/20/2023 72,974.77 36261RAD0 GMALT 2021-1 A40.33% 2/20/2025 20.075/21/2023 5/21/2023 100,000.00 43815GAC3 HAROT 2021-4 A30.88% 1/21/2026 73.335/24/2023 5/24/2023 500,000.00 459058JM6 INTL BK RECON & DEVELOP NOTES0.25% 11/24/2023625.005/27/2023 5/27/2023 325,000.00 3135G06H1 FANNIE MAE NOTES0.25% 11/27/2023 406.256/1/2023 6/1/2023 315,000.00 46647PCH7 JPMORGAN CHASE & CO (CALLABLE) CORP NOTE 0.82% 6/1/20251,297.806/1/2023 6/25/2023 550,000.00 3137BSP72 FHMS K058 A22.65% 8/1/2026 1,215.966/1/2023 6/25/2023 380,000.00 3137BTUM1 FHMS K061 A23.34% 11/1/2026 1,059.886/1/2023 6/25/2023 250,000.00 3137BGK24 FHMS K043 A23.06% 12/1/2024 637.926/1/2023 6/25/2023 275,000.00 3137BNGT5 FHMS K054 A22.74% 1/1/2026 629.066/3/2023 6/3/2023 475,000.00 023135BQ8 AMAZON INC CORP NOTES (CALLABLE)0.80% 6/3/20251,900.006/4/2023 6/4/2023 300,000.00 3137EAFA2 FREDDIE MAC NOTES0.25% 12/4/2023375.006/6/2023 6/6/2023 225,000.00 06051GKE8 BANK OF AMERICA CORP NOTES (CALLABLE)1.53% 12/6/2025 1,721.2525 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionINTEREST6/9/2023 6/9/2023 250,000.00 63254ABD9 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES 3.50% 6/9/20254,375.006/9/2023 6/9/2023 500,000.00 63254ABE7 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES 3.90% 6/9/20279,762.506/15/2023 6/15/2023 239,559.41 65480BAC1 NAROT 2021-A A30.33% 10/15/202565.886/15/2023 6/15/2023 245,000.00 14041NGB1 COMET 2022-A3 A4.95% 10/15/2027 1,010.636/15/2023 6/15/2023 80,000.00 44935FAD6 HART 2021-C A30.74% 5/15/2026 49.336/15/2023 6/15/2023 210,000.00 14318MAD1 CARMX 2022-3 A33.97% 4/15/2027694.756/15/2023 6/15/2023 48,545.97 44933LAC7 HART 2021-A A30.38% 9/15/2025 15.376/15/2023 6/15/2023 320,000.00 254683CY9 DCENT 2023-A1 A4.31% 3/15/2028 1,149.336/15/2023 6/15/2023 50,000.00 63743HFE7 NATIONAL RURAL UTIL COOP CORPORATE NOTES 3.45% 6/15/2025862.506/15/2023 6/15/2023 170,000.00 41285JAD0 HDMOT 2023-A A35.05% 12/15/2027715.426/15/2023 6/15/2023 242,459.20 89190GAC1 TAOT 2021-B A30.26% 11/17/2025 52.536/15/2023 6/15/2023 140,000.00 65480JAC4 NAROT 2022-B A34.46% 5/17/2027520.336/15/2023 6/15/2023 245,000.00 891940AC2 TAOT 2023-A A34.63% 9/15/2027 945.296/15/2023 6/15/2023 130,000.00 344928AD8 FORDO 2023-A A34.65% 2/15/2028 503.756/15/2023 6/15/2023 195,000.00 254683CP8 DCENT 2021-A1 A10.58% 9/15/202694.256/15/2023 6/15/2023 78,133.52 14314QAC8 CARMX 2021-2 A30.52% 2/17/2026 33.866/16/2023 6/16/2023 85,000.00 362554AC1 GMCAR 2021-4 A30.68% 9/16/2026 48.1726 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionINTEREST6/16/2023 6/16/2023 275,000.00 36265QAD8 GMCAR 2022-4 A34.82% 8/16/2027 1,104.586/20/2023 6/20/2023 33,967.32 36261RAD0 GMALT 2021-1 A40.33% 2/20/2025 9.346/20/2023 6/20/2023 35,000.00 380144AD7 GMALT 2021-2 A40.41% 5/20/2025 11.966/21/2023 6/21/2023 100,000.00 43815GAC3 HAROT 2021-4 A30.88% 1/21/2026 73.336/27/2023 6/27/2023 400,000.00 02665WCZ2 AMERICAN HONDA FINANCE CORP NOTE2.40% 6/27/2024 4,800.006/30/2023 6/30/2023 150,000.00 912828ZW3 US TREASURY NOTES0.25% 6/30/2025187.506/30/2023 6/30/2023 400,000.00 912828YY0 US TREASURY NOTES1.75% 12/31/2024 3,500.006/30/2023 6/30/2023 2,825,000.00 91282CBC4 US TREASURY NOTES0.37% 12/31/2025 5,296.88Total INTEREST37,608,651.53255,471.390.00MATURITY4/20/2023 4/20/2023 245,000.00 459058JV6 INTL BK OF RECON AND DEV NOTE0.12% 4/20/2023 245,000.00Total MATURITY245,000.00245,000.000.00PAYDOWNS4/15/2023 4/15/2023 18,023.21 65480BAC1 NAROT 2021-A A30.33% 10/15/2025 18,023.214/15/2023 4/15/20235,811.52 14314QAC8 CARMX 2021-2 A30.52% 2/17/2026 5,811.524/15/2023 4/15/2023 18,985.73 89190GAC1 TAOT 2021-B A30.26% 11/17/2025 18,985.734/15/2023 4/15/20234,516.94 44933LAC7 HART 2021-A A30.38% 9/15/2025 4,516.9427 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionPAYDOWNS4/20/2023 4/20/2023 12,025.23 36261RAD0 GMALT 2021-1 A40.33% 2/20/2025 12,025.235/15/2023 5/15/20234,065.73 44933LAC7 HART 2021-A A30.38% 9/15/2025 4,065.735/15/2023 5/15/2023 15,490.26 65480BAC1 NAROT 2021-A A30.33% 10/15/2025 15,490.265/15/2023 5/15/2023 16,939.06 89190GAC1 TAOT 2021-B A30.26% 11/17/2025 16,939.065/15/2023 5/15/20235,143.82 14314QAC8 CARMX 2021-2 A30.52% 2/17/2026 5,143.825/20/2023 5/20/2023 39,007.45 36261RAD0 GMALT 2021-1 A40.33% 2/20/2025 39,007.456/15/2023 6/15/20234,154.13 44933LAC7 HART 2021-A A30.38% 9/15/2025 4,154.136/15/2023 6/15/2023 17,079.42 65480BAC1 NAROT 2021-A A30.33% 10/15/2025 17,079.426/15/2023 6/15/20235,384.04 14314QAC8 CARMX 2021-2 A30.52% 2/17/2026 5,384.046/15/2023 6/15/2023 17,850.63 89190GAC1 TAOT 2021-B A30.26% 11/17/2025 17,850.636/20/2023 6/20/2023 33,967.32 36261RAD0 GMALT 2021-1 A40.33% 2/20/2025 33,967.32Total PAYDOWNS218,444.49218,444.490.00SELL4/4/2023 4/11/2023 325,000.00 91282CDV0 US TREASURY N/B NOTES0.87% 1/31/2024 316,015.72110.244/6/2023 4/12/2023 550,000.00 91282CDV0 US TREASURY N/B NOTES0.87% 1/31/2024 535,045.45367.564/11/2023 4/14/2023 275,000.00 91282CDV0 US TREASURY N/B NOTES0.87% 1/31/2024 267,267.47-140.105/17/2023 5/24/2023 350,000.00 91282CDV0 US TREASURY N/B NOTES0.87% 1/31/2024 341,317.30-766.3128 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Activity|Quarterly Portfolio TransactionsTradeDateSettleDate Par ($)CUSIPMaturityDateTransactAmount ($)CouponYieldat MarketRealizedG/L (BV)Security DescriptionSELL5/19/2023 5/24/2023 400,000.00 91282CDV0 US TREASURY N/B NOTES0.87% 1/31/2024 389,701.92-1,250.785/23/2023 5/25/2023 50,000.00 91282CDV0 US TREASURY N/B NOTES0.87% 1/31/2024 48,706.14-169.196/2/2023 6/6/2023 825,000.00 91282CDV0 US TREASURY N/B NOTES0.87% 1/31/2024 804,277.25-3,400.796/7/2023 6/14/2023 200,000.00 91282CDV0 US TREASURY N/B NOTES0.87% 1/31/2024 195,218.10-782.266/8/2023 6/13/2023 100,000.00 912828ZW3 US TREASURY NOTES0.25% 6/30/2025 92,019.51-7,156.946/8/2023 6/13/2023 450,000.00 912828ZW3 US TREASURY NOTES0.25% 6/30/2025 414,087.80-33,415.806/8/2023 6/15/2023 100,000.00 912828YY0 US TREASURY NOTES1.75% 12/31/2024 96,333.74-6,888.666/15/2023 6/16/2023 50,000.00 91282CDV0 US TREASURY N/B NOTES0.87% 1/31/2024 48,820.61-191.956/21/2023 6/28/2023 350,000.00 91282CDV0 US TREASURY N/B NOTES0.87% 1/31/2024 342,296.99-1,314.99Total SELL4,025,000.003,891,108.00-54,999.9729 © PFM Asset Management LLC | pfmam.comPortfolio Holdings © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Holdings|Managed Account Detail of Securities HeldSecurity Type/DescriptionDated Date/Coupon/Maturity CUSIPParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueAmortizedCostU.S. TreasuryUS TREASURY N/B NOTESDTD 01/31/2022 0.875% 01/31/202491282CDV0 2,900,000.00 AA+ Aaa 1/13/2023 1/17/2023 2,789,437.50 4.68 10,584.602,825,234.522,837,571.57US TREASURY NOTESDTD 12/31/2019 1.750% 12/31/2024912828YY0 400,000.00 AA+ Aaa 8/5/2020 8/7/2020 427,531.25 0.1819.02380,250.00409,405.51US TREASURY NOTESDTD 06/30/2020 0.250% 06/30/2025912828ZW3 150,000.00 AA+ Aaa 4/1/2021 4/5/2021 147,093.75 0.721.02136,992.18148,628.60US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/202591282CBC4 150,000.00 AA+ Aaa 7/1/2021 7/7/2021 147,052.73 0.821.53135,210.93148,355.43US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/202591282CBC4 450,000.00 AA+ Aaa 8/3/2021 8/5/2021 446,167.97 0.574.59405,632.79447,823.20US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/202591282CBC4 350,000.00 AA+ Aaa 6/2/2021 6/7/2021 344,859.38 0.703.57315,492.17347,183.14US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/202591282CBC4 400,000.00 AA+ Aaa 12/2/2021 12/6/2021 387,968.75 1.134.08360,562.48392,599.89US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/202591282CBC4 825,000.00 AA+ Aaa 9/1/2021 9/7/2021 814,236.33 0.688.41743,660.12818,757.62US TREASURY NOTESDTD 12/31/2020 0.375% 12/31/202591282CBC4 650,000.00 AA+ Aaa 11/2/2021 11/4/2021 632,251.95 1.056.62585,914.03639,313.76US TREASURY N/B NOTESDTD 04/30/2021 0.750% 04/30/202691282CBW0 950,000.00 AA+ Aaa 1/4/2022 1/6/2022 926,843.75 1.33 1,200.41855,593.75934,797.74US TREASURY N/B NOTESDTD 04/30/2021 0.750% 04/30/202691282CBW0 75,000.00 AA+ Aaa 2/10/2022 2/14/2022 71,458.01 1.9294.7767,546.8872,615.61US TREASURY N/B NOTESDTD 07/31/2021 0.625% 07/31/202691282CCP4 900,000.00 AA+ Aaa 8/8/2022 8/15/2022 819,562.50 3.04 2,346.34801,843.75837,363.33US TREASURY N/B NOTESDTD 07/31/2021 0.625% 07/31/202691282CCP4 750,000.00 AA+ Aaa 8/1/2022 8/4/2022 690,468.75 2.74 1,955.28668,203.12703,993.01US TREASURY N/B NOTESDTD 07/31/2021 0.625% 07/31/202691282CCP4 800,000.00 AA+ Aaa 7/5/2022 7/8/2022 732,343.75 2.84 2,085.64712,750.00748,665.14US TREASURY N/B NOTESDTD 07/31/2021 0.625% 07/31/202691282CCP4 900,000.00 AA+ Aaa 6/2/2022 6/6/2022 819,035.16 2.94 2,346.34801,843.75839,863.8530 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIPParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueAmortizedCostU.S. TreasuryUS TREASURY N/B NOTESDTD 07/31/2021 0.625% 07/31/202691282CCP4 200,000.00 AA+ Aaa 9/1/2022 9/6/2022 179,007.81 3.53 521.41178,187.50183,400.84US TREASURY N/B NOTESDTD 07/31/2021 0.625% 07/31/202691282CCP4 250,000.00 AA+ Aaa 5/3/2022 5/5/2022 226,250.00 3.03 651.76222,734.38232,724.48US TREASURY NOTESDTD 11/15/2016 2.000% 11/15/2026912828U24 250,000.00 AA+ Aaa 11/1/2022 11/4/2022 228,144.53 4.39 638.59231,250.00231,693.07US TREASURY NOTESDTD 11/15/2016 2.000% 11/15/2026912828U24 975,000.00 AA+ Aaa 1/4/2023 1/6/2023 907,092.77 3.96 2,490.49901,875.00915,575.15US TREASURY NOTESDTD 11/15/2016 2.000% 11/15/2026912828U24 2,100,000.00 AA+ Aaa 12/5/2022 12/7/2022 1,954,066.41 3.92 5,364.131,942,500.001,974,957.53US TREASURY NOTESDTD 11/15/2016 2.000% 11/15/2026912828U24 9,500,000.00 AA+ Aaa 1/13/2023 1/17/2023 8,922,578.13 3.72 24,266.308,787,500.008,990,728.78US TREASURY N/B NOTESDTD 04/30/2022 2.750% 04/30/202791282CEN7 1,200,000.00 AA+ Aaa 1/31/2023 2/3/2023 1,155,421.88 3.70 5,559.781,133,625.001,159,686.63US TREASURY N/B NOTESDTD 07/31/2022 2.750% 07/31/202791282CFB2 375,000.00 AA+ Aaa 5/1/2023 5/5/2023 362,329.10 3.62 4,301.62353,554.69362,795.66US TREASURY N/B NOTESDTD 07/31/2022 2.750% 07/31/202791282CFB2 825,000.00 AA+ Aaa 6/2/2023 6/6/2023 786,779.30 3.97 9,463.57777,820.31787,409.59US TREASURY N/B NOTESDTD 07/31/2022 2.750% 07/31/202791282CFB2 800,000.00 AA+ Aaa 3/2/2023 3/6/2023 746,531.25 4.44 9,176.80754,250.00750,421.7027,125,000.0025,664,512.7183,096.6725,080,027.35Security Type Sub-Total3.3325,916,330.83SupranationalINTL BK RECON & DEVELOP NOTESDTD 11/24/2020 0.250% 11/24/2023459058JM6 500,000.00 AAA Aaa 11/17/2020 11/24/2020 498,925.00 0.32 128.47489,994.50499,856.67INTER-AMERICAN DEVEL BK NOTESDTD 09/23/2021 0.500% 09/23/20244581X0DZ8 635,000.00 AAA Aaa 9/15/2021 9/23/2021 634,530.10 0.52 864.31598,427.18634,807.071,135,000.001,133,455.10992.781,088,421.68Security Type Sub-Total0.431,134,663.7431 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIPParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueAmortizedCostNegotiable CDTORONTO DOMINION BANK NY CERTDEPOSDTD 10/31/2022 5.600% 10/27/202589115B6K1 450,000.00 A A1 10/27/2022 10/31/2022 450,000.00 5.58 17,010.00449,695.94450,000.00NORDEA BANK ABP NEW YORK CERTDEPOSDTD 11/03/2022 5.530% 11/03/202565558UYF3 450,000.00 AA- Aa3 11/2/2022 11/3/2022 450,000.00 5.53 4,009.25446,081.40450,000.00900,000.00900,000.0021,019.25895,777.34Security Type Sub-Total5.56900,000.00MunicipalCT ST TXBL GO BONDSDTD 06/11/2020 1.998% 07/01/202420772KJW0 60,000.00 AA- Aa3 5/29/2020 6/11/2020 60,000.00 2.00 599.4058,098.0060,000.00CHAFFEY UHSD, CA TXBL GO BONDSDTD 12/05/2019 2.101% 08/01/2024157411TK5 100,000.00 AA- Aa1 11/6/2019 12/5/2019 100,000.00 2.10 875.4296,663.00100,000.00NY ST URBAN DEV CORP TXBL REVBONDSDTD 12/23/2020 0.870% 03/15/2025650036DT0 325,000.00 NR NR 12/16/2020 12/23/2020 325,000.00 0.87 832.54300,485.25325,000.00UNIV OF CAL TXBL REV BONDSDTD 07/16/2020 0.883% 05/15/202591412HGE7 85,000.00 AA Aa2 7/10/2020 7/16/2020 85,000.00 0.8895.9079,172.4085,000.00FL ST BOARD OF ADMIN TXBL REVBONDSDTD 09/16/2020 1.258% 07/01/2025341271AD6 160,000.00 AA Aa3 9/3/2020 9/16/2020 160,000.00 1.26 1,006.40148,244.80160,000.00FL ST BOARD OF ADMIN TXBL REVBONDSDTD 09/16/2020 1.258% 07/01/2025341271AD665,000.00 AA Aa3 9/3/2020 9/16/2020 65,459.55 1.11 408.8560,224.4565,192.07FL ST BOARD OF ADMIN TXBL REVBONDSDTD 09/16/2020 1.258% 07/01/2025341271AD685,000.00 AA Aa3 9/3/2020 9/16/2020 85,563.55 1.12 534.6578,755.0585,235.54LOS ANGELES CCD, CA TXBL GOBONDSDTD 11/10/2020 0.773% 08/01/202554438CYK2 140,000.00 AA+ Aaa 10/30/2020 11/10/2020 140,000.00 0.77 450.92128,535.40140,000.00MN ST TXBL GO BONDSDTD 08/25/2020 0.630% 08/01/202560412AVJ9 100,000.00 AAA Aaa 8/11/2020 8/25/2020 100,000.00 0.63 262.5091,710.00100,000.00SAN JUAN USD, CA TXBL GO BONDSDTD 10/29/2020 0.852% 08/01/2025798306WP7 130,000.00 NR Aa2 10/16/2020 10/29/2020 130,000.00 0.85 461.50119,705.30130,000.0032 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIPParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueAmortizedCostMunicipalCA ST UNIV TXBL REV BONDSDTD 07/29/2021 0.862% 11/01/202513077DQD7 85,000.00 AA- Aa2 7/9/2021 7/29/2021 85,000.00 0.86 122.1277,533.6085,000.00CA ST MUNICIPAL BONDSDTD 03/15/2023 4.846% 03/01/202713063D3N6 200,000.00 AA- Aa2 3/9/2023 3/15/2023 200,000.00 4.85 2,853.76200,784.00200,000.001,535,000.001,536,023.108,503.961,439,911.25Security Type Sub-Total1.591,535,427.61Joint Powers AuthorityCAMP Pool99,538.78 AAAm NR99,538.78 0.00 99,538.7899,538.7899,538.7899,538.78 0.00 99,538.78Security Type Sub-Total99,538.78Federal AgencyFREDDIE MAC NOTESDTD 09/04/2020 0.250% 09/08/20233137EAEW5 225,000.00 AA+ Aaa 9/2/2020 9/4/2020 225,041.09 0.24 176.56222,928.20225,002.58FREDDIE MAC NOTESDTD 09/04/2020 0.250% 09/08/20233137EAEW5 525,000.00 AA+ Aaa 9/2/2020 9/4/2020 524,826.75 0.26 411.98520,165.80524,989.12FREDDIE MAC NOTESDTD 10/16/2020 0.125% 10/16/20233137EAEY1 325,000.00 AA+ Aaa 10/14/2020 10/16/2020 323,787.75 0.2584.64320,163.35324,881.54FREDDIE MAC NOTESDTD 11/05/2020 0.250% 11/06/20233137EAEZ8 350,000.00 AA+ Aaa 11/3/2020 11/5/2020 349,685.00 0.28 133.68343,944.30349,963.21FANNIE MAE NOTESDTD 11/25/2020 0.250% 11/27/20233135G06H1 325,000.00 AA+ Aaa 11/23/2020 11/25/2020 324,629.50 0.2976.74318,425.58324,949.68FREDDIE MAC NOTESDTD 12/04/2020 0.250% 12/04/20233137EAFA2 300,000.00 AA+ Aaa 12/2/2020 12/4/2020 299,703.00 0.2856.25293,526.60299,957.69FEDERAL HOME LOAN BANK NOTESDTD 04/16/2020 0.500% 04/14/20253130AJHU6 350,000.00 AA+ Aaa 4/15/2020 4/16/2020 348,264.00 0.60 374.31323,222.55349,378.50FANNIE MAE NOTESDTD 04/24/2020 0.625% 04/22/20253135G03U5 350,000.00 AA+ Aaa 4/22/2020 4/24/2020 349,279.00 0.67 419.27323,704.15349,738.72FREDDIE MAC NOTESDTD 07/23/2020 0.375% 07/21/20253137EAEU9 425,000.00 AA+ Aaa 7/21/2020 7/23/2020 422,883.50 0.48 708.33387,795.08424,128.57FANNIE MAE NOTESDTD 08/27/2020 0.375% 08/25/20253135G05X7 350,000.00 AA+ Aaa 8/25/2020 8/27/2020 348,362.00 0.47 459.38318,219.65349,294.1533 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIPParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueAmortizedCostFederal AgencyFEDERAL HOME LOAN BANK NOTESDTD 09/11/2020 0.375% 09/04/20253130AK5E2 150,000.00 AA+ Aaa 9/10/2020 9/11/2020 149,550.00 0.44 182.81136,286.70149,803.08FREDDIE MAC NOTESDTD 09/25/2020 0.375% 09/23/20253137EAEX3 700,000.00 AA+ Aaa 9/23/2020 9/25/2020 697,893.00 0.44 714.58634,803.40699,058.55FANNIE MAE NOTESDTD 11/12/2020 0.500% 11/07/20253135G06G3 650,000.00 AA+ Aaa 11/9/2020 11/12/2020 647,673.00 0.57 487.50588,369.60648,901.035,025,000.005,011,577.594,286.034,731,554.96Security Type Sub-Total0.415,020,046.42CorporatePNC BANK NA CORP NOTES(CALLABLE)DTD 01/23/2019 3.500% 01/23/2024693475AV7 400,000.00 A- A3 2/12/2019 2/15/2019 402,848.00 3.34 6,144.44395,134.00400,281.26CHARLES SCHWAB CORP NOTES(CALLABLE)DTD 03/18/2021 0.750% 03/18/2024808513BN4 105,000.00 A- A2 3/16/2021 3/18/2021 104,947.50 0.77 225.31101,266.10104,987.50BANK OF NY MELLON CORP NOTES(CALLABLE)DTD 04/26/2021 0.500% 04/26/202406406RAS6 210,000.00 A A1 4/19/2021 4/26/2021 209,775.30 0.54 189.58201,586.35209,938.49MORGAN STANLEY CORP NOTESDTD 04/28/2014 3.875% 04/29/202461746BDQ6 400,000.00 A- A1 7/19/2019 7/23/2019 422,916.00 2.59 2,669.44394,123.60403,985.96AMERICAN HONDA FINANCE CORPNOTEDTD 06/27/2019 2.400% 06/27/202402665WCZ2 400,000.00 A- A3 7/11/2019 7/15/2019 398,016.00 2.51 106.67387,818.00399,602.98GOLDMAN SACHS GROUP INC(CALLABLE) BONDSDTD 07/08/2014 3.850% 07/08/202438141EC23 400,000.00 BBB+ A2 7/8/2019 7/11/2019 418,632.00 2.84 7,400.56392,475.20403,031.87BMW US CAPITAL LLC CORPORATENOTESDTD 08/12/2021 0.750% 08/12/202405565EBU870,000.00 A A2 8/9/2021 8/12/2021 69,993.70 0.75 202.7166,367.4969,997.65WALT DISNEY COMPANY/THE(CALLABLE)DTD 09/06/2019 1.750% 08/30/2024254687FK7 400,000.00 A- A2 9/3/2019 9/6/2019 398,368.00 1.84 2,352.78383,641.60399,618.00JOHN DEERE CAPITAL CORPCORPORATE NOTESDTD 09/10/2021 0.625% 09/10/202424422EVU0 100,000.00 A A2 9/7/2021 9/10/2021 99,935.00 0.65 192.7194,533.8099,974.0834 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIPParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueAmortizedCostCorporatePACCAR FINANCIAL CORPCORPORATE NOTESDTD 02/06/2020 1.800% 02/06/202569371RQ66 175,000.00 A+ A1 10/22/2020 10/29/2020 182,894.25 0.73 1,268.75165,232.73177,963.50AMERICAN EXPRESS CO CORPNOTES (CALLABLEDTD 03/04/2022 2.250% 03/04/2025025816CQ080,000.00 BBB+ A2 3/1/2022 3/4/202279,919.20 2.29 585.0075,661.2079,954.88ROCHE HOLDINGS INC (CALLABLE)CORPORATEDTD 03/10/2022 2.132% 03/10/2025771196BT8 410,000.00 AA Aa2 3/3/2022 3/10/2022 410,000.00 2.13 2,695.20389,790.69410,000.00HOME DEPOT INC (CALLABLE)CORPORATE NOTEDTD 03/28/2022 2.700% 04/15/2025437076CM2 25,000.00 A A2 3/24/2022 3/28/2022 24,956.25 2.76 142.5023,930.1024,974.32CITIGROUP INC CORP NOTESDTD 04/27/2015 3.300% 04/27/2025172967JP7 225,000.00 BBB+ A3 8/28/2020 9/1/2020 249,738.75 0.88 1,320.00216,426.60234,697.47USAA CAPITAL CORP CORPORATENOTESDTD 05/26/2022 3.375% 05/01/202590327QD89 225,000.00 AA Aa1 5/23/2022 5/26/2022 224,264.25 3.49 1,265.63215,931.83224,539.73CINTAS CORPORATION NO. 2 CORPNOTE (CALLDTD 05/03/2022 3.450% 05/01/202517252MAP5 65,000.00 A- A3 4/26/2022 5/3/2022 64,985.70 3.46 373.7562,752.1764,991.24GENERAL DYNAMICS CORP(CALLABLE) CORP NODTD 05/11/2018 3.500% 05/15/2025369550BG2 225,000.00 A- A3 10/16/2020 10/20/2020 252,247.50 0.80 1,006.25218,419.43235,563.28JPMORGAN CHASE & CO (CALLABLE)CORP NOTEDTD 06/01/2021 0.824% 06/01/202546647PCH7 315,000.00 A- A1 5/24/2021 6/1/2021 315,000.00 0.82 216.30299,329.38315,000.00AMAZON INC CORP NOTES(CALLABLE)DTD 06/03/2020 0.800% 06/03/2025023135BQ8 475,000.00 AA A1 6/3/2020 6/5/2020 474,767.25 0.81 295.56438,335.70474,910.29NATIONAL AUSTRALIA BK/NYCORPORATE NOTESDTD 06/09/2022 3.500% 06/09/202563254ABD9 250,000.00 AA- Aa3 5/31/2022 6/9/2022 250,000.00 3.50 534.72241,470.75250,000.00NATIONAL RURAL UTIL COOPCORPORATE NOTESDTD 05/04/2022 3.450% 06/15/202563743HFE7 50,000.00 A- A2 4/27/2022 5/4/2022 49,986.50 3.4676.6748,106.2549,991.5235 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIPParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueAmortizedCostCorporateIBM CORP CORPORATE NOTESDTD 07/27/2022 4.000% 07/27/2025459200KS9 225,000.00 A- A3 7/20/2022 7/27/2022 225,000.00 4.00 3,850.00219,920.40225,000.00BANK OF AMERICA CORP NOTESDTD 07/30/2015 3.875% 08/01/202506051GFS3 225,000.00 A- A1 8/18/2020 8/20/2020 256,918.50 0.93 3,632.81218,097.68238,459.82ABBOTT LABORATORIESCORPORATE NOTES (CALDTD 03/22/2017 3.875% 09/15/2025002824BM1 225,000.00 AA- Aa3 9/24/2020 9/28/2020 257,845.50 0.86 2,567.19219,933.90238,645.86BANK OF AMERICA CORP NOTES(CALLABLE)DTD 12/06/2021 1.530% 12/06/202506051GKE8 225,000.00 A- A1 12/1/2021 12/6/2021 225,000.00 1.53 239.06210,101.40225,000.00JPMORGAN CHASE & CO CORPNOTES (CALLABLEDTD 02/24/2022 2.595% 02/24/202646647PCV6 175,000.00 A- A1 2/16/2022 2/24/2022 175,000.00 2.60 1,602.05165,923.63175,000.00UNITEDHEALTH GROUP INC(CALLABLE) CORPORDTD 05/19/2021 1.150% 05/15/202691324PEC2 225,000.00 A+ A3 5/17/2021 5/19/2021 224,608.50 1.19 330.63203,450.63224,774.60BMW US CAPITAL LLC (CALLABLE)CORPORATEDTD 08/12/2021 1.250% 08/12/202605565EBW4 175,000.00 A A2 8/12/2021 8/16/2021 174,947.50 1.26 844.62155,711.68174,967.21CATERPILLAR FINL SERVICECORPORATE NOTESDTD 01/10/2022 1.700% 01/08/202714913R2U0 225,000.00 A A2 1/11/2022 1/13/2022 223,863.75 1.81 1,838.13203,145.08224,196.95TARGET CORP CORP NOTES(CALLABLE)DTD 01/24/2022 1.950% 01/15/202787612EBM7 40,000.00 A A2 1/19/2022 1/24/2022 39,932.00 1.99 359.6736,601.0439,951.57BANK OF NY MELLON CORP(CALLABLE) CORPORDTD 01/26/2022 2.050% 01/26/202706406RBA4 475,000.00 A A1 1/26/2022 1/28/2022 473,945.50 2.10 4,192.53426,917.65474,245.55MICROSOFT CORP CORP NOTES(CALLABLE)DTD 02/06/2017 3.300% 02/06/2027594918BY9 750,000.00 AAA Aaa 3/14/2023 3/17/2023 721,942.50 4.36 9,968.75721,335.00724,033.99AMERICAN EXPRESS CO CORPNOTES (CALLABLEDTD 03/04/2022 2.550% 03/04/2027025816CS6 300,000.00 BBB+ A2 1/13/2023 1/18/2023 277,203.00 4.59 2,486.25273,174.90279,685.5436 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIPParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueAmortizedCostCorporateBERKSHIRE HATHAWAY CORP NOTES(CALLABLE)DTD 03/15/2022 2.300% 03/15/2027084664CZ2 475,000.00 AA Aa2 3/15/2022 3/17/2022 466,089.00 2.70 3,216.81443,520.33468,390.03CHARLES SCHWAB CORP NOTES(CALLABLE)DTD 09/24/2021 3.300% 04/01/2027808513BW4 300,000.00 A- A2 2/17/2023 2/22/2023 284,925.00 4.66 2,475.00276,275.70286,222.31NATIONAL AUSTRALIA BK/NYCORPORATE NOTESDTD 06/09/2022 3.905% 06/09/202763254ABE7 500,000.00 AA- Aa3 1/13/2023 1/18/2023 488,325.00 4.50 1,193.19477,470.50489,519.45APPLE INC (CALLABLE) BONDSDTD 09/12/2017 2.900% 09/12/2027037833DB3 775,000.00 AA+ Aaa 1/19/2023 1/23/2023 741,062.75 3.94 6,804.93727,032.15744,250.01TOYOTA MOTOR CREDIT CORPCORPORATE NOTESDTD 01/12/2023 4.625% 01/12/202889236TKQ7 375,000.00 A+ A1 2/8/2023 2/10/2023 376,282.50 4.55 8,141.93371,703.00376,181.87NATIONAL RURAL UTIL COOP CORPNOTES (CALDTD 02/07/2018 3.400% 02/07/2028637432NP6 350,000.00 A- A1 2/17/2023 2/22/2023 329,189.00 4.76 4,760.00325,441.20330,671.40TEXAS INSTRUMENTS INC CORPNOTE (CALLABLDTD 11/18/2022 4.600% 02/15/2028882508BV585,000.00 A+ Aa3 5/11/2023 5/18/2023 87,043.40 4.04 1,477.1185,101.4186,990.61BRISTOL-MYERS SQUIBB CO CORPNOTES (CALLDTD 07/15/2020 3.900% 02/20/2028110122DE5 375,000.00 A+ A2 3/9/2023 3/13/2023 358,263.75 4.93 5,321.88364,047.75359,283.69LOCKHEED MARTIN CORP NOTES(CALLABLE)DTD 05/25/2023 4.450% 05/15/2028539830BZ160,000.00 A- A3 5/23/2023 5/25/2023 59,892.00 4.49 267.0059,106.9059,894.2011,565,000.0011,571,470.3094,834.0710,996,344.90Security Type Sub-Total2.8111,479,368.68Agency CMBSFHMS K043 A2DTD 03/01/2015 3.062% 12/01/20243137BGK24 250,000.00 AA+ Aaa 3/19/2020 3/25/2020 262,382.81 1.95 637.92241,662.97253,753.90FHMS K054 A2DTD 04/20/2016 2.745% 01/01/20263137BNGT5 275,000.00 AA+ Aaa 4/11/2023 4/14/2023 263,613.28 4.37 629.06260,239.61264,507.7137 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIPParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueAmortizedCostAgency CMBSFHMS K058 A2DTD 11/09/2016 2.653% 08/01/20263137BSP72 550,000.00 AA+ Aaa 4/6/2023 4/12/2023 526,839.84 4.02 1,215.96515,094.55528,374.90FHMS K061 A2DTD 01/30/2017 3.347% 11/01/20263137BTUM1 380,000.00 AA+ Aaa 5/19/2023 5/24/2023 368,303.13 4.31 1,059.88362,853.07368,656.73FHLMC MULTIFAMILY STRUCTURED PDTD 07/01/2017 3.243% 04/01/20273137F1G44 550,000.00 AA+ Aaa 6/8/2023 6/13/2023 527,033.20 4.44 1,486.38521,390.78527,331.042,005,000.001,948,172.265,029.201,901,240.98Security Type Sub-Total3.971,942,624.28ABSGMALT 2021-2 A4DTD 05/26/2021 0.410% 05/20/2025380144AD735,000.00 AAA NR 5/18/2021 5/26/2021 34,997.05 0.414.3834,645.3134,998.60HART 2021-A A3DTD 04/28/2021 0.380% 09/15/202544933LAC744,391.84 AAA NR 4/20/2021 4/28/2021 44,387.18 0.387.5043,257.2544,389.49NAROT 2021-A A3DTD 06/23/2021 0.330% 10/15/202565480BAC1 222,479.99 AAA Aaa 6/15/2021 6/23/2021 222,476.22 0.3332.63216,074.21222,477.99TAOT 2021-B A3DTD 06/14/2021 0.260% 11/17/202589190GAC1 224,608.57 AAA NR 6/8/2021 6/14/2021 224,584.37 0.2625.95217,617.52224,595.55HAROT 2021-4 A3DTD 11/24/2021 0.880% 01/21/202643815GAC3 100,000.00 NR Aaa 11/16/2021 11/24/2021 99,978.92 0.8924.4496,140.8599,987.02CARMX 2021-2 A3DTD 04/21/2021 0.520% 02/17/202614314QAC8 72,749.48 AAA NR 4/13/2021 4/21/2021 72,733.80 0.5216.8170,191.0072,740.92HART 2021-C A3DTD 11/17/2021 0.740% 05/15/202644935FAD6 80,000.00 AAA NR 11/9/2021 11/17/2021 79,982.14 0.7526.3176,892.8679,988.58DCENT 2021-A1 A1DTD 09/27/2021 0.580% 09/15/2026254683CP8 195,000.00 AAA Aaa 9/20/2021 9/27/2021 194,958.25 0.5850.27183,495.96194,973.03GMCAR 2021-4 A3DTD 10/21/2021 0.680% 09/16/2026362554AC185,000.00 AAA Aaa 10/13/2021 10/21/2021 84,997.83 0.6824.0881,344.8584,998.58CARMX 2022-3 A3DTD 07/20/2022 3.970% 04/15/202714318MAD1 210,000.00 AAA NR 7/12/2022 7/20/2022 209,995.04 3.97 370.53204,998.41209,996.03NAROT 2022-B A3DTD 09/28/2022 4.460% 05/17/202765480JAC4 140,000.00 AAA Aaa 9/20/2022 9/28/2022 139,971.03 4.46 277.51137,464.18139,975.76GMCAR 2022-4 A3DTD 10/12/2022 4.820% 08/16/202736265QAD8 275,000.00 AAA NR 10/4/2022 10/12/2022 274,954.93 4.82 552.29271,448.32274,961.6138 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Portfolio Holdings|Security Type/DescriptionDated Date/Coupon/Maturity CUSIPParS&PRatingMoody'sRatingSettleDateOriginalCostTradeDateYTMat CostAccruedInterestMarketValueAmortizedCostABSTAOT 2023-A A3DTD 01/30/2023 4.630% 09/15/2027891940AC2 245,000.00 AAA NR 1/24/2023 1/30/2023 244,999.88 4.63 504.16242,135.61244,999.89COMET 2022-A3 ADTD 11/03/2022 4.950% 10/15/202714041NGB1 245,000.00 AAA NR 10/27/2022 11/3/2022 244,961.56 4.95 539.00243,184.53244,966.67HDMOT 2023-A A3DTD 02/23/2023 5.050% 12/15/202741285JAD0 170,000.00 NR Aaa 2/13/2023 2/23/2023 169,982.88 5.05 381.56168,592.93169,984.13FORDO 2023-A A3DTD 03/31/2023 4.650% 02/15/2028344928AD8 130,000.00 AAA NR 3/28/2023 3/31/2023 129,986.44 4.65 268.67128,407.21129,987.14DCENT 2023-A1 ADTD 04/11/2023 4.310% 03/15/2028254683CY9 320,000.00 NR Aaa 4/4/2023 4/11/2023 319,981.44 4.31 612.98312,857.70319,982.28COMET 2023-A1 ADTD 05/24/2023 4.420% 05/15/202814041NGD7 490,000.00 AAA NR 5/17/2023 5/24/2023 489,887.64 4.43 2,225.96481,276.63489,889.99AMXCA 2023-1 ADTD 06/14/2023 4.870% 05/15/202802582JJZ4 190,000.00 AAA NR 6/7/2023 6/14/2023 189,983.15 4.87 436.94188,896.25189,983.31BACCT 2023-A1 A1DTD 06/16/2023 4.790% 05/15/202805522RDG0 170,000.00 AAA NR 6/8/2023 6/16/2023 169,961.51 4.79 339.29168,648.35169,961.83DCENT 2023-A2 ADTD 06/28/2023 4.930% 06/15/2028254683CZ6 350,000.00 AAA Aaa 6/21/2023 6/28/2023 349,952.72 4.93 143.79348,590.17349,952.803,994,229.883,993,713.986,865.053,916,160.10Security Type Sub-Total3.563,993,791.2053,284,229.8851,758,925.04 224,627.0150,049,438.56Managed Account Sub TotalSecurities Sub TotalAccrued Interest$53,383,768.66$51,858,463.82$224,627.01$50,148,977.34$224,627.0151,922,252.76$52,021,791.542.912.91%Total Investments$50,373,604.3539 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Appendix|Important DisclosuresThis material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard toany specific objectives or financial circumstances.Investment advisory services are provided by PFM Asset Management LLC ("PFMAM"), an investment adviser registered with the U.S. Securities and ExchangeCommission and a subsidiary of U.S. Bancorp Asset Management, Inc. ("USBAM"). USBAM is a subsidiary of U.S. Bank National Association ("U.S. Bank"). U.S. Bankis a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. Theinformation contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sourcesexternal to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We relyon the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements. While effortsare made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to particular issuers arefor illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics aregathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion ofthe strategy rated by a NRSRO.It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any salescharges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to belower than the performance shown.The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast,projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion asof the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as actualevents occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and datapresented are not necessarily indicative of future events or expected performance.For more information regarding PFMAM's services or entities, please visit www.pfmam.com.© 2023 PFM Asset Management LLC. Further distribution is not permitted without prior written consent.40 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Appendix|Important DisclosuresThis information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buyor sell any fund or other security. Investors should consider the Trust's investment objectives, risks, charges, and expenses before investing in the Trust. This and otherinformation about the Trust is available in the Trust's current Information Sheet, which should be read carefully before investing. A copy of the Trust's informationStatement may be available by calling 1-800-729-7665 or is available on the Trust's website at www.camponline.com. While the Cash Reserve Portfolio seeks tomaintain a stable net asset value of $1.00 per share and the CAMP TERM Portfolio seeks to achieve a net asset value of $1.00 per share at the stated maturity, it ispossible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation or any othergovernment agency. Shares of the Trust are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) andSecurities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Refinitiv, Bloomberg, orTelerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimatedmarket value.In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthlybalances, and forward settling sales are excluded.Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is showngross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Pastperformance is not indicative of future returns.Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets.Money market fund/cash balances are included in performance and duration computations.Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.MBS maturities are represented by expected average life.41 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Appendix|GlossaryAccrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.Agencies: Federal agency securities and/or Government-sponsored enterprises.Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchasedate until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortizedon a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans,leases, credit card balances, and receivables.Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector addedor subtracted from the overall portfolio performance.Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compoundingon investment returns, while nominal yield does not.FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.Interest Rate: Interest per year divided by principal amount and expressed as a percentage.Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.Maturity: The date upon which the principal or stated value of an investment becomes due and payable.Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.Par Value: The nominal dollar face amount of a security.Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is themortgage-backed security.42 © PFM Asset Management LLC pfmam.comCITY OF LAKE ELSINOREFor the Quarter Ended June 30, 2023Appendix|GlossaryRepurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments andmaturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whosedecisions are binding on its members.Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.U.S. Treasury: The department of the U.S. government that issues Treasury securities.Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as apercentage on an annualized basis.YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time periodfrom purchase date to maturity, stated as a percentage on an annualized basis.YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the timeperiod remaining until maturity, stated as a percentage on an annualized basis.43