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Item No. 28 SA Investment Report July 2023
Page 1 of 1 REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE To:Honorable Agency Chair and Members of the Successor Agency From:Jason Simpson, Executive Director Prepared by:Shannon Buckley, Assistant Executive Director Date:September 12, 2023 Subject:SA 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 of Lake Elsinore and includes funds held for the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore as of the date shown on the report. Additionally, the Review of the Investment Performance for the quarter ended June 30, 2023, is included. Fiscal Impact No fiscal impact. Attachments Attachment 1 - Investment Report for July 2023 CITY OF LAKE ELSINORE INVESTMENT REPORT 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 BANK DEPOSITS IN TRANSIT OUTSTANDING PAYMENTS BOOK CASH ACCOUNTS Bank Accounts: BALANCE BALANCE General Checking Account $2,806,386 $263,443 $(14,080)$3,055,748 Cash On Hand: Cashier Drawers #1 & #2 City of Lake Elsinore Petty Cash Fund - - - - - - 300 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 24,508,149 1,133,455 1,536,023 3,484,330 4,511,627 11,849,400 900,000 - - - - - - - - - - - - - - - - - - 51,531 24,508,149 1,133,455 1,536,023 3,484,330 4,511,627 11,849,400 900,000 U.S. Treasury Bond / Note Supra-National Agency Bond / Note Municipal Bond / Note Federal Agency Commercial Mortgage-Backed Security Federal Agency Bond / Note Corporate Note Certificate of Deposit Asset-Backed Security 3,944,124 3,944,124 Sub-total Investments 125,469,212 --125,469,212 (2,817,910) 122,651,302 Market Value Adjustment: Unrealized Gain/(Loss) at 06/30/2023 (2,817,910)-- Total Investments 122,651,302 125,457,688 -- Total Pooled Cash and Investments $$263,443 $(14,080)$ 125,709,350 $ 125,709,350TOTAL POOLED CASH AND INVESTMENTS 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 City Manager August 22, 2023 Date 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 100 102 106 107 108 109 110 112 114 115 116 117 118 119 135 140 160 180 202 203 205 211 221 231 232 300 305 310 315 320 331 332 334 335 336 337 338 339 340 345 346 347 350 351 354 355 General $16,584,969 22,327,311 644,687 79,276 Measure Z Affordable Housing In Lieu Developer Agreement Revenue American Rescue Plan 9,408,950 231,947 1,576,151 1,715,638 56,717 Road Maintenance and Rehabilitation (SB1) State Gas Tax Measure A SB1186 CASP Education Program Traffic Safety 65,893 City Hall-Public Works DIF Community Center DIF 12,261 168,953 283,049 33,467 Lake Side Facility DIF Animal Shelter DIF Lighting & Landscape Maintenance - Dist. No. 1 Geothermal 1,144,923 11,740 PEG Grant 80,970 Launch Pointe 1,166,627 23,944La Strada RBBD E.L.S.P. - S.T.I.F.3,376,452 232,130 3,101,532 88,160 Traffic Impact Fee Storm Drain C.I.P. Quimby Park C.I.P. Library C.I.P.1,330,745 589,362 697,392 2,453,847 12,700 City Fire Protection Insurance Service Information Systems Service Support Service Fleet Service 290,600 2,102,272 93,067 Facilities Service CFD 2006-1CC Summerly Improvement Area CC CFD 2006-1 Improvement Area B, Summerly CFD 2015-5 Trieste - Far West Industries CFD 2003-2E Canyon Hills Improvement Area E CFD 2006-1FF Summerly Improvement Area FF CFD 2016-2 Canyon Hills CFD 2006-1 IA-JJ Summerly Improvement Area CFD 2006-1 IA-KK Summerly Improvement Area CFD 2006-1 IA-EE Summerly Improvement Area CFD 2003-2 Improvement Area D, Canyon Hills CFD 2014-1 Southshore 102,088 76,216 91,811 110,778 706,065 165,443 153,802 155,764 849,474 68,242 CFD 2006-1 Improvement Area A, Summerly CFD 98-1 Summerhill 153,242 852,882 161,882 1,075,834 833,847 CFD 2006-1 IA-II Summerly Improvement CFD 90-2 Tuscany Hills RAD 2021-1 Canyon Hills Improvement 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 470,372357 361 362 363 364 366 368 369 370 371 372 374 375 377 378 384 385 386 387 388 390 392 394 395 397 500 510 540 603 604 605 606 608 617 620 631 653 655 CFD 2003-2 Canyon Hills Improvement Area CFD 2022-2 Lakeshore Improvement CFD 2006-8S Running Deer Estates Services CFD 2022-3 Lakeside 9,724 23,877 5,598 CFD 2023-2 Coastal Mission Trail Improvement CFD 2005-6 City Center Townhomes CFD 2006-2 Viscaya 40,038 152,817 311,156 1,188,154 158,981 472,842 1,104,712 800 CFD 2004-3 Area 1 Rosetta Canyon Improvement Area CFD 2006-1 IA-HH Summerly Improvement CFD 2005-1 Serenity CFD 2005-2 Alberhill Ranch Improvement Area CFD 2005-4 Lakeview Villas CFD 2006-4 Clurman 3,088 CFD 2006-6 Tessara 95,664 CFD 2006-8 Running Deer Estates CFD 2003-2 Area B Canyon Hills Improvement Area CFD 2004-3 Area 2 Rosetta Canyon Improvement Area CFD 2007-4 Mekenna Court 3,457 946,601 1,097,625 76,898 CFD 2007-5 Red Kite 72,218 CFD 2007-6 Holiday Inn Express CFD 2003-2 Area C Canyon Hills Improvement Area CFD 95-1 City Center 365 470,827 100,370 196,019 1,130 CFD 2005-5 (2012A) Wasson Canyon CFD 2018-1 Wasson Canyon II Improvement Area CFD 2018-3 Village at Lakeshore Capital Improvement Plan 158,572 1,482,498 4,766,543 346,892 59,360 Successor To RDA Area I, II, & III Successor To RDA Diamond Stadium Endowment Trust - Carl Graves Endowment Trust - Korn Memorial Public Improvement Trust 33,735 1,678,322 281,630 1,570,233 25,953,178 5,955,773 504,148 352,908 19,123 Mobile Source Air Polution Reduction Trust Deposit & Pre Paid Expense Successor Agency Housing Cost Recovery System Lake Destratification Equipment Replacement CFD 2009-1 Parks & Lighting Service CFD 2015-1s Law, Fire, Paramedic Services Total Pooled Cash & Investments $125,709,350 C I T Y O F L A K E E L S I N O R E SUMMARY OF POLICY LIMITATIONS FOR THE MONTH ENDING July 31, 2023 MAXIMUM PERCENTAGE DIVERSIFICATION PERCENTAGE CURRENT BALANCETYPES OF SECURITIES CAMP - Pooled Sweep Account U.S. Treasury Bond / Note Unlimited Unlimited 30% 0.04%$ $ $ $ $ $ $ $ $ $ 51,531 19.53% 0.90% 24,508,149 1,133,455 1,536,023 3,484,330 4,511,627 11,849,400 900,000 Supra-National Agency Bond / Note Municipal Bond / Note Unlimited 40% 1.22% Federal Agency Collaterized Mortgage Obligation Federal Agency Bond / Note 2.78% (1)Unlimited 30% 3.60% Corporate Note 9.44% Negotiable Certificates of Deposit Asset-Backed Security / Collaterized Mortgage LAIF (Local Agency Investment Funds) 30%0.72% 20%3.14%3,944,124 73,550,572(2)$150 Million 58.62% 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. Investment in LAIF may not exceed $75 million in each agency.(2) Local Agency Investment Fund PMIA/LAIF Performance Report as of 08/16/23 Quarterly Performance Quarter Ended 06/30/23 PMIA Average Monthly Effective Yields(1) (2)3.15 July June 3.305** 3.167 2.993 2.870 2.831 2.624 LAIF Apportionment Rate :(2)0.00008636172883763LAIF Earnings Ratio :(1)*0.06 0.984828499 3.26 3.01 260 MayLAIF Administrative Cost :(1)April March February LAIF Fair Value Factor :(1)PMIA Daily :(1)PMIA Quarter to Date :(1)PMIA Average Life : Pooled Money Investment Account Monthly Portfolio Composition (1) 07/31/23 $173.5 billion Corporate Bonds 0.25% Commercial PaperTime Deposits 4.41% 3.00% Loans 0.20% Certificates of Deposit/Bank Notes 7.81% Agencies 23.10%Treasuries 61.23% Chart does not include $2,786,000.00 in mortgages, which equates to 0.002%. Percentages may not total 100% due to rounding. Daily rates are now available here. View PMIA Daily Rates Notes: The apportionment rate includes interest earned on the 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 law 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 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 Yield Purchase Date Maturity Rate 24-Hour3.305%Daily Investment Beginning Balance Net Increase/(Decrease)Ending Balance 73,550,572 Total Investments Held with Local Agency Investment Fund:$73,059,580 $490,992 $ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. CAMP Investment Portfolio Account Statement - Transaction Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 CAMP Pool Asset Summary Opening Market Value Purchases Redemptions Unsettled Trades Change in Value 99,538.78 2,448,283.60 (2,496,291.72) 0.00 July 31, 2023 June 30, 2023 CAMP Pool 51,530.66 99,538.78 CAMP Managed Account 50,264,323.24 50,049,438.56 0.00 Total $50,315,853.90 $50,148,977.34Closing Market Value Cash Dividends and Income CAMP Managed Account $51,530.66 Asset Allocation841.48 CAMP Pool 0.10%Opening Market Value Purchases Redemptions Unsettled Trades Change in Value 50,049,438.56 2,479,663.81 (2,331,339.32) 0.00 66,560.19 Closing Market Value $50,264,323.24 Cash Dividends and Income 63,402.55 CAMP Managed Account 99.90% Page 1 Managed Account Summary Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Transaction Summary - Money Market Opening Market Value Transaction Summary - Managed Account Account Total $99,538.78 Opening Market Value $50,049,438.56 Opening Market Value $50,148,977.34 Purchases Redemptions 2,448,283.60 (2,496,291.72) Maturities/Calls (49,594.37) (2,281,744.95) 2,479,663.81 0.00 Principal Dispositions Principal Acquisitions Unsettled Trades Change in Current Value 66,560.19__________________________________________________________________________________________________________________________________________________ Closing Market Value $51,530.66 Closing Market Value $50,264,323.24 Closing Market Value $50,315,853.90 Dividend 841.48 Earnings Reconciliation (Cash Basis) - Managed Account Cash Balance Interest/Dividends/Coupons Received Less Purchased Interest Related to Interest/Coupons Plus Net Realized Gains/Losses 116,102.80 (12,560.56) (40,139.69) Closing Cash Balance $0.00 Total Cash Basis Earnings $63,402.55 TotalEarnings Reconciliation (Accrual Basis)Managed Account Cash Transactions Summary- Managed Account Ending Amortized Value of Securities Ending Accrued Interest Plus Proceeds from Sales Plus Proceeds of Maturities/Calls/Principal Payments Plus Coupons/Dividends Received Less Cost of New Purchases Less Beginning Amortized Value of Securities Less Beginning Accrued Interest Dividends 52,043,829.93 210,256.88 2,287,391.61 49,594.37 110,456.14 (2,492,224.37) (51,922,252.76) (224,627.01) 0.00 52,095,360.59 210,256.88 4,783,683.33 49,594.37 Maturities/Calls Sale Proceeds Coupon/Interest/Dividend Income Principal Payments Security Purchases 0.00 2,287,391.61 110,456.14 49,594.37 (2,492,224.37) 44,782.25 110,456.14 (4,940,507.97) Net Cash Contribution (52,021,791.54) Reconciling Transactions (224,627.01) 0.00 841.48 Total Accrual Basis Earnings $62,424.79 $63,266.27 Page 2 Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Account Summary Sector Allocation Description Par Value Market Value Percent ABS 7.70% Cert of Deposit 1.78% Corporate Note 22.46% Fed Agy Bond / Note U.S. Treasury Bond / Note Supra-National Agency Bond / Note Municipal Bond / Note Federal Agency Commercial Mortgage-Backed Security Federal Agency Bond / Note Corporate Note Certificate of Deposit Asset-Backed Security Managed Account Sub-Total Accrued Interest 25,950,000.00 1,135,000.00 1,535,000.00 3,545,000.00 23,990,940.82 1,092,600.47 1,441,779.20 3,420,370.18 47.68 2.17 2.87 6.80 US TSY Bond / Note 47.68% 4,525,000.00 11,840,000.00 900,000.00 3,944,635.51 53,374,635.51 4,247,617.73 11,302,854.50 895,947.21 3,872,213.13 50,264,323.24 99.90% 210,256.88 50,474,580.12 51,530.66 50,526,110.78 100.00% 8.44 22.46 1.78 8.44% Federal Agency Commercial Mortgage-Backed Security7.70 6.80% Joint Powers Authority 0.10% Muni Bond / Note 2.87% Total Portfolio CAMP Pool Total Investments 53,374,635.51 51,530.66 53,426,166.17 0.10 Supra-National Agency Bond / Note 2.17% Unsettled Trades 0.00 0.00 Maturity Distribution Characteristics 42.97%Yield to Maturity at Cost 3.01% 4.77% 1036 Yield to Maturity at Market Weighted Average Days to Maturity 17.57%15.62% 12.47% 6.46%4.91% 0.00% Over 5 Years0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Page 3 Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Issuer Summary Credit Quality (S&P Ratings) Market Value of Holdings 219,823.43 440,272.75 539,303.71 388,621.60 726,868.63 597,483.73 441,837.88 223,182.68 362,629.88 77,225.90 Issuer ABBOTT LABORATORIES AMAZON.COM INC Percent 0.44 0.88 1.07 0.77 1.44 1.19 0.88 0.44 0.72 0.15 0.10 1.44 0.54 0.40 0.19 0.76 0.13 0.43 0.75 1.68 4.15 0.92 0.57 0.26 10.17 0.43 0.70 0.07 0.78 0.34 0.05 0.19 A NR 1.98% BBB+ 1.91% AAAm 0.10% AAA 10.33% AA- 3.62% 3.86% A+ 2.37% A- 7.51% AA 3.69% AMERICAN EXPRESS CO AMERICAN HONDA FINANCE APPLE INC BANK OF AMERICA CO BERKSHIRE HATHAWAY INC BMW FINANCIAL SERVICES NA LLC BRISTOL-MYERS SQUIBB CO CALIFORNIA STATE UNIVERSITY CAMP Pool CAPITAL ONE FINANCIAL CORP CARMAX AUTO OWNER TRUST CATERPILLAR INC CHAFFEY JOINT UNION HIGH SCHOOL DISTRICT CHARLES SCHWAB CINTAS CORPORATION NO. 2 CITIGROUP INC DEERE & COMPANY DISCOVER FINANCIAL SERVICES FANNIE MAE FEDERAL HOME LOAN BANKS FLORIDA STATE BOARD OF ADMIN FIN CORP FORD CREDIT AUTO OWNER TRUST FREDDIE MAC 51,530.66 725,013.14 270,546.47 203,430.38 96,884.00 381,236.27 62,913.11 217,253.25 376,959.38 846,732.21 2,088,756.00 460,716.15 287,618.00 128,372.09 5,118,515.76 218,758.28 351,189.20 34,775.90 AA+ 64.63% GENERAL DYNAMICS CORP GM FINANCIAL CONSUMER AUTOMOBILE TRUST GM FINANCIAL LEASINGTRUST GOLDMAN SACHS GROUP INC HARLEY-DAVIDSON MOTORCYCLE TRUST HOME DEPOT INC 393,009.60 168,623.70 24,003.10 HONDA AUTO RECEIVABLES 93,934.08 Page 4 Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Market Value of Holdings 114,719.10 220,323.83 600,747.47 491,853.00 468,502.76 59,460.00 Issuer Percent 0.23 0.44 1.19 0.98 0.93 0.12 0.26 1.43 0.78 1.43 0.75 0.60 0.67 0.89 0.33 0.79 0.78 0.24 0.40 0.12 0.18 0.07 0.17 1.25 0.76 0.89 1.62 47.68 0.40 0.16 0.43 HYUNDAI AUTO RECEIVABLES IBM CORP INTER-AMERICAN DEVELOPMENT BANK INTL BANK OF RECONSTRUCTION AND DEV JP MORGAN CHASE & CO LOCKHEED MARTIN CORP LOS ANGELES COMMUNITY COLLEGE DISTRICT MICROSOFT CORP 129,047.80 719,372.25 394,490.80 721,950.25 374,990.50 301,372.50 337,626.58 446,197.50 165,755.80 396,012.00 390,472.52 120,000.40 200,546.00 58,234.80 MORGAN STANLEY NATIONAL AUSTRALIA BANK LTD NATIONAL RURAL UTILITIES CO FINANCE CORP NEW YORK ST URBAN DEVELOPMENT CORP NISSAN AUTO RECEIVABLES NORDEA BANK ABP PACCAR FINANCIAL CORP PNC FINANCIAL SERVICES GROUP ROCHE HOLDINGS INC SAN JUAN UNIFIED SCHOOL DISTRICT STATE OF CALIFORNIA STATE OF CONNECTICUT STATE OF MINNESOTA TARGET CORP TEXAS INSTRUMENTS INC THE BANK OF NEW YORK MELLON CORPORATION THE WALT DISNEY CORPORATION TORONTO-DOMINION BANK TOYOTA MOTOR CORP UNITED STATES TREASURY UNITEDHEALTH GROUP INC UNIVERSITY OF CALIFORNIA USAA CAPITAL CORP 91,946.00 36,653.48 85,068.17 630,520.75 384,772.40 449,749.71 816,908.91 23,990,940.82 203,429.93 78,903.80 217,263.15 Total $50,315,853.90 100.00% Page 5 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description S&P Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueDated Date/Coupon/Maturity CUSIP Par Rating Rating Date U.S. Treasury Bond / Note US TREASURY N/B NOTES DTD 01/31/2022 0.875% 01/31/2024 91282CDV0 912828YY0 912828ZW3 91282CBC4 91282CBC4 91282CBC4 91282CBC4 91282CBW0 91282CBW0 91282CCP4 91282CCP4 91282CCP4 91282CCP4 91282CCP4 1,750,000.00 AA+ 400,000.00 AA+ 150,000.00 AA+ 325,000.00 AA+ 400,000.00 AA+ 650,000.00 AA+ 825,000.00 AA+ 75,000.00 AA+ 950,000.00 AA+ 200,000.00 AA+ 250,000.00 AA+ 750,000.00 AA+ 800,000.00 AA+ 900,000.00 AA+ Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa 01/13/23 08/05/20 04/01/21 08/03/21 12/02/21 11/02/21 09/01/21 02/10/22 01/04/22 09/01/22 05/03/22 08/01/22 07/05/22 06/02/22 01/17/23 08/07/20 04/05/21 08/05/21 12/06/21 11/04/21 09/07/21 02/14/22 01/06/22 09/06/22 05/05/22 08/04/22 07/08/22 06/06/22 1,683,281.25 4.68 427,531.25 0.18 147,093.75 0.72 322,232.42 0.57 387,968.75 1.13 632,251.95 1.05 814,236.33 0.68 71,458.01 1.92 926,843.75 1.33 179,007.81 3.53 226,250.00 3.03 690,468.75 2.74 732,343.75 2.84 819,035.16 2.94 41.61 608.70 32.61 1,717,784.88 408,874.42 148,686.83 323,481.19 392,850.88 639,676.20 818,969.34 72,687.10 1,711,171.88 381,062.48 137,320.32 293,515.63 361,250.00 587,031.25 745,078.12 67,664.06 US TREASURY NOTES DTD 12/31/2019 1.750% 12/31/2024 US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 105.98 130.43 211.96 269.02 142.15 1,800.61 3.40 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026 US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026 935,253.51 183,857.83 233,200.10 705,259.63 750,078.44 841,519.46 857,078.13 178,500.00 223,125.00 669,375.00 714,000.00 803,250.00 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 4.25 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 12.74 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 13.59 US TREASURY N/B NOTES 15.29 DTD 07/31/2021 0.625% 07/31/2026 Page 6 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description S&P Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueDated Date/Coupon/Maturity CUSIP Par Rating Rating Date U.S. Treasury Bond / Note US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 91282CCP4 912828U24 912828U24 912828U24 912828U24 91282CEN7 91282CFB2 91282CFB2 91282CFB2 91282CFB2 900,000.00 AA+ 250,000.00 AA+ 975,000.00 AA+ 2,100,000.00 AA+ 9,500,000.00 AA+ 1,200,000.00 AA+ 375,000.00 AA+ 600,000.00 AA+ 800,000.00 AA+ 825,000.00 AA+ Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa 08/08/22 11/01/22 01/04/23 12/05/22 01/13/23 01/31/23 05/01/23 07/03/23 03/02/23 06/02/23 08/15/22 11/04/22 01/06/23 12/07/22 01/17/23 02/03/23 05/05/23 07/07/23 03/06/23 06/06/23 819,562.50 3.04 228,144.53 4.39 907,092.77 3.96 1,954,066.41 3.92 8,922,578.13 3.72 1,155,421.88 3.70 362,329.10 3.62 565,640.63 4.30 746,531.25 4.44 786,779.30 3.97 15.29 1,059.78 4,133.15 8,902.17 40,271.74 8,339.67 28.02 839,087.79 232,153.35 917,069.20 1,978,101.34 9,003,532.84 1,160,579.92 363,049.41 566,219.07 751,452.50 788,191.15 803,250.00 231,445.30 902,636.67 1,944,140.52 8,794,921.40 1,133,812.56 353,554.69 565,687.50 754,250.00 777,820.31 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 US TREASURY N/B NOTES DTD 04/30/2022 2.750% 04/30/2027 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 44.84 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 59.78 US TREASURY N/B NOTES 61.65 DTD 07/31/2022 2.750% 07/31/2027 Security Type Sub-Total 25,950,000.00 24,508,149.43 3.35 66,308.43 24,771,616.38 23,990,940.82 Supra-National Agency Bond / Note INTL BK RECON & DEVELOP NOTES DTD 11/24/2020 0.250% 11/24/2023 459058JM6 4581X0DZ8 500,000.00 AAA 635,000.00 AAA Aaa Aaa 11/17/20 09/15/21 11/24/20 09/23/21 498,925.00 0.32 634,530.10 0.52 232.64 499,887.10 634,820.36 491,853.00 600,747.47INTER-AMERICAN DEVEL BK NOTES DTD 09/23/2021 0.500% 09/23/2024 1,128.89 Security Type Sub-Total 1,135,000.00 1,133,455.10 0.43 1,361.53 1,134,707.46 1,092,600.47 Page 7 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description S&P Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueDated Date/Coupon/Maturity CUSIP Par Rating Rating Date Municipal Bond / Note CT ST TXBL GO BONDS DTD 06/11/2020 1.998% 07/01/2024 20772KJW0 157411TK5 650036DT0 91412HGE7 341271AD6 341271AD6 341271AD6 60412AVJ9 798306WP7 54438CYK2 13077DQD7 13063D3N6 60,000.00 AA- 100,000.00 AA- 325,000.00 NR 85,000.00 AA 65,000.00 AA 85,000.00 AA 160,000.00 AA 100,000.00 AAA 130,000.00 NR 140,000.00 AA+ 85,000.00 AA- 200,000.00 AA- Aa3 Aa1 NR 05/29/20 11/06/19 12/16/20 07/10/20 09/03/20 09/03/20 09/03/20 08/11/20 10/16/20 10/30/20 07/09/21 03/09/23 06/11/20 12/05/19 12/23/20 07/16/20 09/16/20 09/16/20 09/16/20 08/25/20 10/29/20 11/10/20 07/29/21 03/15/23 60,000.00 2.00 100,000.00 2.10 325,000.00 0.87 85,000.00 0.88 65,459.55 1.11 85,563.55 1.12 160,000.00 1.26 100,000.00 0.63 130,000.00 0.85 140,000.00 0.77 85,000.00 0.86 200,000.00 4.85 99.90 1,050.50 1,068.17 158.45 68.14 60,000.00 100,000.00 325,000.00 85,000.00 65,183.93 85,225.55 160,000.00 100,000.00 130,000.00 140,000.00 85,000.00 200,000.00 58,234.80 96,884.00 301,372.50 78,903.80 60,307.00 78,863.00 148,448.00 91,946.00 120,000.40 129,047.80 77,225.90 200,546.00 CHAFFEY UHSD, CA TXBL GO BONDS DTD 12/05/2019 2.101% 08/01/2024 NY ST URBAN DEV CORP TXBL REV BONDS DTD 12/23/2020 0.870% 03/15/2025 UNIV OF CAL TXBL REV BONDS DTD 07/16/2020 0.883% 05/15/2025 Aa2 Aa3 Aa3 Aa3 Aaa Aa2 Aaa Aa2 Aa2 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 89.11 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 167.73 315.00 553.80 541.10 183.18 3,661.42 MN ST TXBL GO BONDS DTD 08/25/2020 0.630% 08/01/2025 SAN JUAN USD, CA TXBL GO BONDS DTD 10/29/2020 0.852% 08/01/2025 LOS ANGELES CCD, CA TXBL GO BONDS DTD 11/10/2020 0.773% 08/01/2025 CA ST UNIV TXBL REV BONDS DTD 07/29/2021 0.862% 11/01/2025 CA ST MUNICIPAL BONDS DTD 03/15/2023 4.846% 03/01/2027 Security Type Sub-Total 1,535,000.00 1,536,023.10 1.59 7,956.50 1,535,409.48 1,441,779.20 Federal Agency Commercial Mortgage-Backed Security FHMS K043 A2 3137BGK24 250,000.00 AA+Aaa 03/19/20 03/25/20 262,382.81 1.95 637.92 253,529.68 241,557.05 DTD 03/01/2015 3.062% 12/01/2024 Page 8 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description S&P Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueDated Date/Coupon/Maturity CUSIP Par Rating Rating Date Federal Agency Commercial Mortgage-Backed Security FHMS K054 A2 DTD 04/20/2016 2.745% 01/01/2026 3137BNGT5 3137BSP72 3137BTUM1 3137F1G44 3137HAD45 3137HACX2 3136BQDE6 275,000.00 AA+ 550,000.00 AA+ 380,000.00 AA+ 550,000.00 AA+ 440,000.00 AA+ 550,000.00 AA+ 550,000.00 AA+ Aaa Aaa Aaa Aaa Aaa Aaa Aaa 04/11/23 04/06/23 05/19/23 06/08/23 07/19/23 07/13/23 07/18/23 04/14/23 04/12/23 05/24/23 06/13/23 07/27/23 07/20/23 07/31/23 263,613.28 4.37 526,839.84 4.02 368,303.13 4.31 527,033.20 4.44 439,989.00 4.78 555,493.40 4.59 540,675.78 4.58 629.06 1,215.96 1,059.88 1,486.38 1,751.57 2,208.71 1,920.42 264,863.18 528,969.73 368,945.20 527,843.99 439,989.03 555,456.32 540,680.97 260,269.45 514,617.20 362,076.35 519,546.41 435,371.42 550,319.30 536,613.00 FHMS K058 A2 DTD 11/09/2016 2.653% 08/01/2026 FHMS K061 A2 DTD 01/30/2017 3.347% 11/01/2026 FHLMC MULTIFAMILY STRUCTURED P DTD 07/01/2017 3.243% 04/01/2027 FHMS KJ46 A1 DTD 07/01/2023 4.777% 06/01/2028 FHMS K505 A2 DTD 07/01/2023 4.819% 06/01/2028 FNA 2023-M6 A2 DTD 07/01/2023 4.190% 07/01/2028 Security Type Sub-Total 3,545,000.00 3,484,330.44 4.27 10,909.90 3,480,278.10 3,420,370.18 Federal Agency Bond / Note FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 3137EAEW5 3137EAEY1 3137EAEZ8 3135G06H1 3137EAFA2 250,000.00 AA+ 325,000.00 AA+ 350,000.00 AA+ 325,000.00 AA+ 300,000.00 AA+ Aaa Aaa Aaa Aaa Aaa 09/02/20 10/14/20 11/03/20 11/23/20 12/02/20 09/04/20 10/16/20 11/05/20 11/25/20 12/04/20 249,917.50 0.26 323,787.75 0.25 349,685.00 0.28 324,629.50 0.29 299,703.00 0.28 248.26 118.49 206.60 144.44 118.75 249,997.15 324,915.86 349,972.12 324,960.15 299,966.10 248,645.25 321,389.25 345,202.20 319,567.95 294,655.20 FREDDIE MAC NOTES DTD 10/16/2020 0.125% 10/16/2023 FREDDIE MAC NOTES DTD 11/05/2020 0.250% 11/06/2023 FANNIE MAE NOTES DTD 11/25/2020 0.250% 11/27/2023 FREDDIE MAC NOTES DTD 12/04/2020 0.250% 12/04/2023 Page 9 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description S&P Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueDated Date/Coupon/Maturity CUSIP Par Rating Rating Date Federal Agency Bond / Note FEDERAL HOME LOAN BANK NOTES DTD 04/16/2020 0.500% 04/14/2025 3130AJHU6 3135G03U5 3137EAEU9 3135G05X7 3130AK5E2 3137EAEX3 3135G06G3 350,000.00 AA+ 350,000.00 AA+ 425,000.00 AA+ 350,000.00 AA+ 150,000.00 AA+ 700,000.00 AA+ 650,000.00 AA+ Aaa Aaa Aaa Aaa Aaa Aaa Aaa 04/15/20 04/22/20 07/21/20 08/25/20 09/10/20 09/23/20 11/09/20 04/16/20 04/24/20 07/23/20 08/27/20 09/11/20 09/25/20 11/12/20 348,264.00 0.60 349,279.00 0.67 422,883.50 0.48 348,362.00 0.47 149,550.00 0.44 697,893.00 0.44 647,673.00 0.57 520.14 601.56 44.27 349,408.01 349,750.97 424,164.54 349,321.99 149,810.75 699,094.36 648,940.65 324,128.70 324,573.20 388,692.68 318,931.55 136,587.45 636,174.00 589,070.30 FANNIE MAE NOTES DTD 04/24/2020 0.625% 04/22/2025 FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025 FANNIE MAE NOTES DTD 08/27/2020 0.375% 08/25/2025 568.75 229.69 933.33 758.33 FEDERAL HOME LOAN BANK NOTES DTD 09/11/2020 0.375% 09/04/2025 FREDDIE MAC NOTES DTD 09/25/2020 0.375% 09/23/2025 FANNIE MAE NOTES DTD 11/12/2020 0.500% 11/07/2025 Security Type Sub-Total Corporate Note 4,525,000.00 4,511,627.25 0.43 4,492.61 4,520,302.65 4,247,617.73 PNC BANK NA CORP NOTES (CALLABLE) DTD 01/23/2019 3.500% 01/23/2024 693475AV7 808513BN4 400,000.00 A- 105,000.00 A- A3 A2 02/12/19 03/16/21 02/15/19 03/18/21 402,848.00 3.34 104,947.50 0.77 311.11 290.94 400,231.44 104,988.98 396,012.00 101,658.17CHARLES SCHWAB CORP NOTES (CALLABLE) DTD 03/18/2021 0.750% 03/18/2024 BANK OF NY MELLON CORP NOTES (CALLABLE) 06406RAS6 210,000.00 A A1 04/19/21 04/26/21 209,775.30 0.54 277.08 209,944.85 201,915.42 DTD 04/26/2021 0.500% 04/26/2024 MORGAN STANLEY CORP NOTES DTD 04/28/2014 3.875% 04/29/2024 61746BDQ6 02665WCZ2 400,000.00 A- 400,000.00 A- A1 A3 07/19/19 07/11/19 07/23/19 07/15/19 422,916.00 2.59 398,016.00 2.51 3,961.11 906.67 403,578.16 399,636.98 394,490.80 388,621.60AMERICAN HONDA FINANCE CORP NOTE DTD 06/27/2019 2.400% 06/27/2024 Page 10 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description S&P Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueDated Date/Coupon/Maturity CUSIP Par Rating Rating Date Corporate Note GOLDMAN SACHS GROUP INC (CALLABLE) BONDS 38141EC23 400,000.00 BBB+A2 07/08/19 07/11/19 418,632.00 2.84 983.89 402,698.58 393,009.60 DTD 07/08/2014 3.850% 07/08/2024 BMW US CAPITAL LLC CORPORATE NOTES DTD 08/12/2021 0.750% 08/12/2024 05565EBU8 254687FK7 69371RQ66 70,000.00 A A2 A2 A1 08/09/21 09/03/19 10/22/20 08/12/21 09/06/19 10/29/20 69,993.70 0.75 398,368.00 1.84 182,894.25 0.73 246.46 2,936.11 1,531.25 69,997.83 399,645.80 177,806.73 66,676.33 384,772.40 165,755.80 WALT DISNEY COMPANY/THE (CALLABLE) DTD 09/06/2019 1.750% 08/30/2024 400,000.00 A- 175,000.00 A+PACCAR FINANCIAL CORP CORPORATE NOTES DTD 02/06/2020 1.800% 02/06/2025 AMERICAN EXPRESS CO CORP NOTES (CALLABLE DTD 03/04/2022 2.250% 03/04/2025 025816CQ0 771196BT8 437076CM2 80,000.00 BBB+ 410,000.00 AA A2 Aa2 A2 03/01/22 03/03/22 03/24/22 03/04/22 03/10/22 03/28/22 79,919.20 2.29 410,000.00 2.13 24,956.25 2.76 735.00 3,423.64 198.75 79,957.17 410,000.00 24,975.53 76,010.88 390,472.52 24,003.10 ROCHE HOLDINGS INC (CALLABLE) CORPORATE DTD 03/10/2022 2.132% 03/10/2025 HOME DEPOT INC (CALLABLE) CORPORATE NOTE 25,000.00 A DTD 03/28/2022 2.700% 04/15/2025 CITIGROUP INC CORP NOTES DTD 04/27/2015 3.300% 04/27/2025 172967JP7 17252MAP5 225,000.00 BBB+ 65,000.00 A- A3 A3 08/28/20 04/26/22 09/01/20 05/03/22 249,738.75 0.88 64,985.70 3.46 1,938.75 560.63 234,246.09 64,991.65 217,253.25 62,913.11CINTAS CORPORATION NO. 2 CORP NOTE (CALL DTD 05/03/2022 3.450% 05/01/2025 USAA CAPITAL CORP CORPORATE NOTES DTD 05/26/2022 3.375% 05/01/2025 90327QD89 369550BG2 225,000.00 AA 225,000.00 A- Aa1 A3 05/23/22 10/16/20 05/26/22 10/20/20 224,264.25 3.49 252,247.50 0.80 1,898.44 1,662.50 224,561.02 235,037.66 217,263.15 218,758.28GENERAL DYNAMICS CORP (CALLABLE) CORP NO DTD 05/11/2018 3.500% 05/15/2025 Page 11 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description S&P Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueDated Date/Coupon/Maturity CUSIP Par Rating Rating Date Corporate Note JPMORGAN CHASE & CO (CALLABLE) CORP NOTE 46647PCH7 315,000.00 A-A1 05/24/21 06/01/21 315,000.00 0.82 432.60 315,000.00 301,310.73 DTD 06/01/2021 0.824% 06/01/2025 AMAZON INC CORP NOTES (CALLABLE) DTD 06/03/2020 0.800% 06/03/2025 023135BQ8 63254ABD9 475,000.00 AA 250,000.00 AA- A1 06/03/20 05/31/22 06/05/20 06/09/22 474,767.25 0.81 250,000.00 3.50 612.22 474,914.25 250,000.00 440,272.75 241,758.25NATIONAL AUSTRALIA BK/NY CORPORATE NOTES Aa3 1,263.89 DTD 06/09/2022 3.500% 06/09/2025 NATIONAL RURAL UTIL COOP CORPORATE NOTES 63743HFE7 50,000.00 A-A2 04/27/22 05/04/22 49,986.50 3.46 220.42 49,991.89 48,172.75 DTD 05/04/2022 3.450% 06/15/2025 IBM CORP CORPORATE NOTES DTD 07/27/2022 4.000% 07/27/2025 459200KS9 06051GFS3 002824BM1 225,000.00 A- 225,000.00 A- 225,000.00 AA- A3 A1 07/20/22 08/18/20 09/24/20 07/27/22 08/20/20 09/28/20 225,000.00 4.00 256,918.50 0.93 257,845.50 0.86 100.00 4,359.38 3,293.75 225,000.00 237,912.24 238,054.23 220,323.83 218,023.43 219,823.43 BANK OF AMERICA CORP NOTES DTD 07/30/2015 3.875% 08/01/2025 ABBOTT LABORATORIES CORPORATE NOTES (CAL Aa3 DTD 03/22/2017 3.875% 09/15/2025 BANK OF AMERICA CORP NOTES (CALLABLE) DTD 12/06/2021 1.530% 12/06/2025 06051GKE8 46647PCV6 91324PEC2 05565EBW4 225,000.00 A- 175,000.00 A- 225,000.00 A+ A1 A1 A2 A2 12/01/21 02/16/22 05/17/21 08/12/21 12/06/21 02/24/22 05/19/21 08/16/21 225,000.00 1.53 175,000.00 2.60 224,608.50 1.19 174,947.50 1.26 525.94 1,980.49 546.25 225,000.00 175,000.00 224,781.26 174,968.10 211,158.00 167,192.03 203,429.93 156,506.35 JPMORGAN CHASE & CO CORP NOTES (CALLABLE DTD 02/24/2022 2.595% 02/24/2026 UNITEDHEALTH GROUP INC (CALLABLE) CORPOR DTD 05/19/2021 1.150% 05/15/2026 BMW US CAPITAL LLC (CALLABLE) CORPORATE 175,000.00 A 1,026.91 DTD 08/12/2021 1.250% 08/12/2026 Page 12 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description S&P Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueDated Date/Coupon/Maturity CUSIP Par Rating Rating Date Corporate Note CATERPILLAR FINL SERVICE CORPORATE NOTES 14913R2U0 225,000.00 A A2 01/11/22 01/13/22 223,863.75 1.81 244.38 224,216.29 203,430.38 DTD 01/10/2022 1.700% 01/08/2027 TARGET CORP CORP NOTES (CALLABLE) DTD 01/24/2022 1.950% 01/15/2027 87612EBM7 06406RBA4 40,000.00 A A A2 A1 01/19/22 01/26/22 01/24/22 01/28/22 39,932.00 1.99 473,945.50 2.10 34.67 39,952.73 36,653.48 BANK OF NY MELLON CORP (CALLABLE) CORPOR 475,000.00 135.24 474,263.47 428,605.33 DTD 01/26/2022 2.050% 01/26/2027 MICROSOFT CORP CORP NOTES (CALLABLE) DTD 02/06/2017 3.300% 02/06/2027 594918BY9 025816CS6 750,000.00 AAA 300,000.00 BBB+ Aaa A2 03/14/23 01/13/23 03/17/23 01/18/23 721,942.50 4.36 277,203.00 4.59 12,031.25 3,123.75 724,645.65 280,154.80 719,372.25 274,059.00AMERICAN EXPRESS CO CORP NOTES (CALLABLE DTD 03/04/2022 2.550% 03/04/2027 BERKSHIRE HATHAWAY CORP NOTES (CALLABLE) DTD 03/15/2022 2.300% 03/15/2027 084664CZ2 808513BW4 63254ABE7 475,000.00 AA 300,000.00 A- 500,000.00 AA- Aa2 A2 03/15/22 02/17/23 01/13/23 03/17/22 02/22/23 01/18/23 466,089.00 2.70 284,925.00 4.66 488,325.00 4.50 4,127.22 3,300.00 2,820.28 468,541.48 286,534.07 489,745.23 441,837.88 279,578.10 480,192.00 CHARLES SCHWAB CORP NOTES (CALLABLE) DTD 09/24/2021 3.300% 04/01/2027 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES Aa3 DTD 06/09/2022 3.905% 06/09/2027 APPLE INC (CALLABLE) BONDS DTD 09/12/2017 2.900% 09/12/2027 037833DB3 89236TKQ7 775,000.00 AA+ 375,000.00 A+ Aaa A1 01/19/23 02/08/23 01/23/23 02/10/23 741,062.75 3.94 376,282.50 4.55 8,677.85 915.36 744,871.42 376,159.75 726,868.63 373,764.38TOYOTA MOTOR CREDIT CORP CORPORATE NOTES DTD 01/12/2023 4.625% 01/12/2028 NATIONAL RURAL UTIL COOP CORP NOTES (CAL 637432NP6 350,000.00 A-A1 02/17/23 02/22/23 329,189.00 4.76 5,751.67 331,027.63 326,817.75 DTD 02/07/2018 3.400% 02/07/2028 Page 13 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description S&P Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueDated Date/Coupon/Maturity CUSIP Par Rating Rating Date Corporate Note TEXAS INSTRUMENTS INC CORP NOTE (CALLABL DTD 11/18/2022 4.600% 02/15/2028 882508BV5 85,000.00 A+ 375,000.00 A+ 60,000.00 A- Aa3 A2 05/11/23 05/18/23 03/13/23 05/25/23 07/25/23 87,043.40 4.04 358,263.75 4.93 59,892.00 4.49 377,865.00 4.78 1,802.94 6,540.63 489.50 86,953.41 359,571.12 59,896.04 377,853.96 85,068.17 362,629.88 59,460.00 376,959.38 BRISTOL-MYERS SQUIBB CO CORP NOTES (CALL DTD 07/15/2020 3.900% 02/20/2028 110122DE5 539830BZ1 24422EXB0 03/09/23 05/23/23 07/21/23 LOCKHEED MARTIN CORP NOTES (CALLABLE) DTD 05/25/2023 4.450% 05/15/2028 A3 JOHN DEERE CAPITAL CORP CORPORATE NOTES 375,000.00 A A2 876.56 DTD 07/14/2023 4.950% 07/14/2028 Security Type Sub-Total Certificate of Deposit 11,840,000.00 11,849,400.30 2.89 87,095.48 11,757,307.49 11,302,854.50 TORONTO DOMINION BANK NY CERT DEPOS DTD 10/31/2022 5.600% 10/27/2025 89115B6K1 65558UYF3 450,000.00 A A1 10/27/22 11/02/22 10/31/22 11/03/22 450,000.00 5.58 19,180.00 450,000.00 449,749.71 NORDEA BANK ABP NEW YORK CERT DEPOS DTD 11/03/2022 5.530% 11/03/2025 450,000.00 AA-Aa3 450,000.00 5.53 6,083.00 450,000.00 446,197.50 Security Type Sub-Total Asset-Backed Security 900,000.00 900,000.00 5.56 25,263.00 900,000.00 895,947.21 GMALT 2021-2 A4 DTD 05/26/2021 0.410% 05/20/2025 380144AD7 44933LAC7 65480BAC1 35,000.00 AAA 40,296.85 AAA 205,927.99 AAA NR NR 05/18/21 04/20/21 06/15/21 05/26/21 04/28/21 06/23/21 34,997.05 0.41 40,292.62 0.38 205,924.50 0.33 4.38 6.81 34,998.67 40,294.80 205,926.20 34,775.90 39,327.55 199,875.89 HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 NAROT 2021-A A3 Aaa 30.20 DTD 06/23/2021 0.330% 10/15/2025 Page 14 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description S&P Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueDated Date/Coupon/Maturity CUSIP Par Rating Rating Date Asset-Backed Security TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 89190GAC1 43815GAC3 14314QAC8 44935FAD6 254683CP8 362554AC1 14318MAD1 65480JAC4 36265QAD8 891940AC2 14041NGB1 41285JAD0 344928AD8 254683CY9 207,937.59 AAA 97,490.23 NR 67,628.11 AAA 78,227.49 AAA 195,000.00 AAA 82,127.25 AAA 210,000.00 AAA 140,000.00 AAA 275,000.00 AAA 245,000.00 AAA 245,000.00 AAA 170,000.00 NR 130,000.00 AAA 320,000.00 NR NR Aaa NR 06/08/21 11/16/21 04/13/21 11/09/21 09/20/21 10/13/21 07/12/22 09/20/22 10/04/22 01/24/23 10/27/22 02/13/23 03/28/23 04/04/23 06/14/21 11/24/21 04/21/21 11/17/21 09/27/21 10/21/21 07/20/22 09/28/22 10/12/22 01/30/23 11/03/22 02/23/23 03/31/23 04/11/23 207,915.19 0.26 97,469.68 0.89 67,613.53 0.52 78,210.03 0.75 194,958.25 0.58 82,125.15 0.68 209,995.04 3.97 139,971.03 4.46 274,954.93 4.82 244,999.88 4.63 244,961.56 4.95 169,982.88 5.05 129,986.44 4.65 319,981.44 4.31 24.03 23.83 207,925.97 97,478.00 67,620.41 78,216.65 194,973.74 82,125.91 209,996.12 139,976.29 274,962.39 244,999.89 244,967.32 169,984.43 129,987.38 319,982.59 201,349.82 93,934.08 65,351.77 75,391.55 184,378.78 78,782.23 205,194.70 137,750.69 272,406.97 241,794.71 243,613.23 168,623.70 128,372.09 313,801.06 HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026 CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 15.63 HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 NR 25.73 DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026 Aaa Aaa NR 50.27 GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 23.27 CARMX 2022-3 A3 DTD 07/20/2022 3.970% 04/15/2027 370.53 277.51 552.29 504.16 539.00 381.56 268.67 612.98 NAROT 2022-B A3 DTD 09/28/2022 4.460% 05/17/2027 Aaa NRGMCAR 2022-4 A3 DTD 10/12/2022 4.820% 08/16/2027 TAOT 2023-A A3 DTD 01/30/2023 4.630% 09/15/2027 NR COMET 2022-A3 A DTD 11/03/2022 4.950% 10/15/2027 NR HDMOT 2023-A A3 DTD 02/23/2023 5.050% 12/15/2027 Aaa NRFORDO 2023-A A3 DTD 03/31/2023 4.650% 02/15/2028 DCENT 2023-A1 A Aaa DTD 04/11/2023 4.310% 03/15/2028 Page 15 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description S&P Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueDated Date/Coupon/Maturity CUSIP Par Rating Rating Date Asset-Backed Security BACCT 2023-A1 A1 DTD 06/16/2023 4.790% 05/15/2028 05522RDG0 02582JJZ4 14041NGD7 254683CZ6 170,000.00 AAA 190,000.00 AAA 490,000.00 AAA 350,000.00 AAA NR NR 06/08/23 06/07/23 05/17/23 06/21/23 06/16/23 06/14/23 05/24/23 06/28/23 169,961.51 4.79 189,983.15 4.87 489,887.64 4.43 349,952.72 4.93 1,017.87 411.24 962.58 766.89 169,962.50 189,983.60 489,891.90 349,953.61 168,302.30 189,233.83 481,399.91 348,552.37 AMXCA 2023-1 A DTD 06/14/2023 4.870% 05/15/2028 COMET 2023-A1 A DTD 05/24/2023 4.420% 05/15/2028 NR DCENT 2023-A2 A Aaa DTD 06/28/2023 4.930% 06/15/2028 Security Type Sub-Total 3,944,635.51 53,374,635.51 3,944,124.22 3.60 3.01 6,869.43 3,944,208.37 52,043,829.93 3,872,213.13 50,264,323.24Managed Account Sub-Total Joint Powers Authority CAMP Pool 51,867,109.84 210,256.88 51,530.66 AAAm NR 51,530.66 0.00 51,530.66 51,530.66 Liquid Sub-Total 51,530.66 51,530.66 0.00 51,530.66 51,530.66 Securities Sub-Total Accrued Interest Total Investments $53,426,166.17 $51,918,640.50 3.01%$210,256.88 $52,095,360.59 $50,315,853.90 $210,256.88 $50,526,110.78 Page 16 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description Next Call Date Market Price Market Value Unreal G/L On Cost Unreal G/L Amort Cost Effective Duration YTM at MktDated Date/Coupon/Maturity CUSIP Par Broker U.S. Treasury Bond / Note US TREASURY N/B NOTES DTD 01/31/2022 0.875% 01/31/2024 US TREASURY NOTES DTD 12/31/2019 1.750% 12/31/2024 US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026 US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 US TREASURY NOTES 91282CDV0 912828YY0 912828ZW3 91282CBC4 91282CBC4 91282CBC4 91282CBC4 91282CBW0 91282CBW0 91282CCP4 91282CCP4 91282CCP4 91282CCP4 91282CCP4 91282CCP4 912828U24 912828U24 1,750,000.00 CITIGRP 400,000.00 WELLS_F 150,000.00 GOLDMAN 325,000.00 JPM_CHA 400,000.00 CITIGRP 650,000.00 BNP_PAR 825,000.00 CITIGRP 75,000.00 BMO 97.78 95.27 91.55 90.31 90.31 90.31 90.31 90.22 90.22 89.25 89.25 89.25 89.25 89.25 89.25 92.58 92.58 1,711,171.88 381,062.48 137,320.32 293,515.63 361,250.00 587,031.25 745,078.12 67,664.06 27,890.63 (46,468.77) (9,773.43) (28,716.79) (26,718.75) (45,220.70) (69,158.21) (3,793.95) (69,765.62) (507.81) (6,613.00) (27,811.94) (11,366.51) (29,965.56) (31,600.88) (52,644.95) (73,891.22) (5,023.04) (78,175.38) (5,357.83) (10,075.10) (35,884.63) (36,078.44) (38,269.46) (35,837.79) (708.05) 0.50 1.40 1.91 2.41 2.41 2.41 2.41 2.72 2.72 2.98 2.98 2.98 2.98 2.98 2.98 3.18 3.18 5.43 5.26 4.93 4.66 4.66 4.66 4.66 4.58 4.58 4.50 4.50 4.50 4.50 4.50 4.50 4.45 4.45 950,000.00 CITIGRP 200,000.00 BMO 857,078.13 178,500.00 223,125.00 669,375.00 714,000.00 803,250.00 803,250.00 231,445.30 902,636.67 250,000.00 HSBC 750,000.00 BMO (3,125.00) (21,093.75) (18,343.75) (15,785.16) (16,312.50) 3,300.77 800,000.00 HSBC 900,000.00 MERRILL 900,000.00 BMO 250,000.00 BMO DTD 11/15/2016 2.000% 11/15/2026 US TREASURY NOTES 975,000.00 BMO (4,456.10)(14,432.53) DTD 11/15/2016 2.000% 11/15/2026 Page 17 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description Next Call Date Market Price Market Value Unreal G/L On Cost Unreal G/L Amort Cost Effective Duration YTM at MktDated Date/Coupon/Maturity CUSIP Par Broker U.S. Treasury Bond / Note US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 US TREASURY N/B NOTES DTD 04/30/2022 2.750% 04/30/2027 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY N/B NOTES 912828U24 912828U24 91282CEN7 91282CFB2 91282CFB2 91282CFB2 91282CFB2 2,100,000.00 HSBC 9,500,000.00 JPM_CHA 1,200,000.00 BNP_PAR 375,000.00 MORGAN_ 600,000.00 CITIGRP 800,000.00 BMO 92.58 92.58 94.48 94.28 94.28 94.28 94.28 1,944,140.52 8,794,921.40 1,133,812.56 353,554.69 565,687.50 754,250.00 777,820.31 (9,925.89) (127,656.73) (21,609.32) (8,774.41) 46.87 (33,960.82) (208,611.44) (26,767.36) (9,494.72) (531.57) 3.18 3.18 3.56 3.81 3.81 3.81 3.81 4.45 4.45 4.36 4.32 4.32 4.32 4.32 7,718.75 2,797.50 825,000.00 HSBC (8,958.99)(10,370.84) DTD 07/31/2022 2.750% 07/31/2027 Security Type Sub-Total 25,950,000.00 23,990,940.82 (517,208.61)(780,675.56)2.93 4.55 Supra-National Agency Bond / Note INTL BK RECON & DEVELOP NOTES DTD 11/24/2020 0.250% 11/24/2023 INTER-AMERICAN DEVEL BK NOTES DTD 09/23/2021 0.500% 09/23/2024 459058JM6 4581X0DZ8 500,000.00 TD 98.37 94.61 491,853.00 600,747.47 (7,072.00)(8,034.10)0.32 1.14 5.48 5.41635,000.00 JPM_CHA (33,782.63)(34,072.89) Security Type Sub-Total Municipal Bond / Note 1,135,000.00 1,092,600.47 (40,854.63)(42,106.99)0.77 5.44 CT ST TXBL GO BONDS 20772KJW0 157411TK5 650036DT0 91412HGE7 60,000.00 SIEBERT 100,000.00 RBC 97.06 96.88 92.73 92.83 58,234.80 96,884.00 301,372.50 78,903.80 (1,765.20) (3,116.00) (23,627.50) (6,096.20) (1,765.20) (3,116.00) (23,627.50) (6,096.20) 0.91 0.99 1.61 1.70 5.32 5.33 5.61 5.12 DTD 06/11/2020 1.998% 07/01/2024 CHAFFEY UHSD, CA TXBL GO BONDS DTD 12/05/2019 2.101% 08/01/2024 NY ST URBAN DEV CORP TXBL REV BONDS DTD 12/23/2020 0.870% 03/15/2025 UNIV OF CAL TXBL REV BONDS 325,000.00 WELLS_F 85,000.00 JPM_CHA 04/15/25 DTD 07/16/2020 0.883% 05/15/2025 Page 18 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description Next Call Date Market Price Market Value Unreal G/L On Cost Unreal G/L Amort Cost Effective Duration YTM at MktDated Date/Coupon/Maturity CUSIP Par Broker Municipal Bond / Note FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 MN ST TXBL GO BONDS DTD 08/25/2020 0.630% 08/01/2025 SAN JUAN USD, CA TXBL GO BONDS DTD 10/29/2020 0.852% 08/01/2025 LOS ANGELES CCD, CA TXBL GO BONDS DTD 11/10/2020 0.773% 08/01/2025 CA ST UNIV TXBL REV BONDS 341271AD6 341271AD6 341271AD6 60412AVJ9 798306WP7 54438CYK2 13077DQD7 13063D3N6 65,000.00 MERRILL 85,000.00 MERRILL 160,000.00 MERRILL 100,000.00 MORGAN_ 130,000.00 KEYBANC 140,000.00 MERRILL 85,000.00 JPM_CHA 200,000.00 WELLS_F 92.78 92.78 92.78 91.95 92.31 92.18 90.85 100.27 60,307.00 78,863.00 148,448.00 91,946.00 120,000.40 129,047.80 77,225.90 200,546.00 (5,152.55) (6,700.55) (11,552.00) (8,054.00) (9,999.60) (10,952.20) (7,774.10) 546.00 (4,876.93) (6,362.55) (11,552.00) (8,054.00) (9,999.60) (10,952.20) (7,774.10) 546.00 1.90 1.90 1.90 1.99 1.98 1.98 2.23 3.28 5.26 5.26 5.26 4.90 4.93 4.92 5.22 4.76 DTD 07/29/2021 0.862% 11/01/2025 CA ST MUNICIPAL BONDS DTD 03/15/2023 4.846% 03/01/2027 Security Type Sub-Total 1,535,000.00 1,441,779.20 (94,243.90)(93,630.28)1.96 5.18 Federal Agency Commercial Mortgage-Backed Security FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024 FHMS K054 A2 DTD 04/20/2016 2.745% 01/01/2026 FHMS K058 A2 DTD 11/09/2016 2.653% 08/01/2026 FHMS K061 A2 DTD 01/30/2017 3.347% 11/01/2026 FHLMC MULTIFAMILY STRUCTURED P DTD 07/01/2017 3.243% 04/01/2027 FHMS KJ46 A1 DTD 07/01/2023 4.777% 06/01/2028 FHMS K505 A2 3137BGK24 3137BNGT5 3137BSP72 3137BTUM1 3137F1G44 3137HAD45 3137HACX2 250,000.00 CITIGRP 275,000.00 BAIRD 550,000.00 BREAN 380,000.00 CITIGRP 550,000.00 CITIGRP 440,000.00 JPM_CHA 550,000.00 JPM_CHA 96.62 94.64 93.57 95.28 94.46 98.95 100.06 241,557.05 260,269.45 514,617.20 362,076.35 519,546.41 435,371.42 550,319.30 (20,825.76) (3,343.83) (12,222.64) (6,226.78) (7,486.79) (4,617.58) (5,174.10) (11,972.63) (4,593.73) (14,352.53) (6,868.85) (8,297.58) (4,617.61) (5,137.02) 1.27 2.24 2.85 2.92 3.37 3.43 4.20 5.69 5.10 4.96 4.92 4.89 5.02 4.81 DTD 07/01/2023 4.819% 06/01/2028 Page 19 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description Next Call Date Market Price Market Value Unreal G/L On Cost Unreal G/L Amort Cost Effective Duration YTM at MktDated Date/Coupon/Maturity CUSIP Par Broker Federal Agency Commercial Mortgage-Backed Security FNA 2023-M6 A2 3136BQDE6 550,000.00 JPM_CHA 97.57 536,613.00 (4,062.78)(4,067.97)4.36 4.75 DTD 07/01/2023 4.190% 07/01/2028 Security Type Sub-Total 3,545,000.00 3,420,370.18 (63,960.26)(59,907.92)3.30 4.96 Federal Agency Bond / Note FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 FREDDIE MAC NOTES DTD 10/16/2020 0.125% 10/16/2023 FREDDIE MAC NOTES DTD 11/05/2020 0.250% 11/06/2023 FANNIE MAE NOTES DTD 11/25/2020 0.250% 11/27/2023 FREDDIE MAC NOTES DTD 12/04/2020 0.250% 12/04/2023 FEDERAL HOME LOAN BANK NOTES DTD 04/16/2020 0.500% 04/14/2025 FANNIE MAE NOTES DTD 04/24/2020 0.625% 04/22/2025 FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025 FANNIE MAE NOTES 3137EAEW5 3137EAEY1 3137EAEZ8 3135G06H1 3137EAFA2 3130AJHU6 3135G03U5 3137EAEU9 3135G05X7 3130AK5E2 3137EAEX3 3135G06G3 250,000.00 WELLS_F 325,000.00 WELLS_F 350,000.00 CITIGRP 325,000.00 NOMURA 300,000.00 CITIGRP 350,000.00 CITIGRP 350,000.00 CITIGRP 425,000.00 WELLS_F 350,000.00 BARCLAY 150,000.00 WELLS_F 700,000.00 CITIGRP 650,000.00 BARCLAY 99.46 98.89 98.63 98.33 98.22 92.61 92.74 91.46 91.12 91.06 90.88 90.63 248,645.25 321,389.25 345,202.20 319,567.95 294,655.20 324,128.70 324,573.20 388,692.68 318,931.55 136,587.45 636,174.00 589,070.30 (1,272.25) (2,398.50) (4,482.80) (5,061.55) (5,047.80) (24,135.30) (24,705.80) (34,190.82) (29,430.45) (12,962.55) (61,719.00) (58,602.70) (1,351.90) (3,526.61) (4,769.92) (5,392.20) (5,310.90) (25,279.31) (25,177.77) (35,471.86) (30,390.44) (13,223.30) (62,920.36) (59,870.35) 0.11 0.21 0.27 0.33 0.35 1.70 1.72 1.97 2.06 2.08 2.14 2.26 5.41 5.45 5.46 5.48 5.52 5.08 5.07 4.97 4.94 4.92 4.90 4.92 DTD 08/27/2020 0.375% 08/25/2025 FEDERAL HOME LOAN BANK NOTES DTD 09/11/2020 0.375% 09/04/2025 FREDDIE MAC NOTES DTD 09/25/2020 0.375% 09/23/2025 FANNIE MAE NOTES DTD 11/12/2020 0.500% 11/07/2025 Security Type Sub-Total Corporate Note 4,525,000.00 4,247,617.73 (264,009.52)(272,684.92)1.39 5.14 Page 20 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description Next Call Date Market Price Market Value Unreal G/L On Cost Unreal G/L Amort Cost Effective Duration YTM at MktDated Date/Coupon/Maturity CUSIP Par Broker Corporate Note PNC BANK NA CORP NOTES (CALLABLE) DTD 01/23/2019 3.500% 01/23/2024 CHARLES SCHWAB CORP NOTES (CALLABLE) 693475AV7 808513BN4 400,000.00 CITIGRP 105,000.00 CSFB 12/23/23 02/18/24 99.00 96.82 396,012.00 101,658.17 (6,836.00) (3,289.33) (4,219.44) (3,330.81) 0.40 0.55 5.63 5.94 DTD 03/18/2021 0.750% 03/18/2024 BANK OF NY MELLON CORP NOTES (CALLABLE) 06406RAS6 210,000.00 JPM_CHA 03/26/24 96.15 201,915.42 (7,859.88)(8,029.43)0.65 5.90 DTD 04/26/2021 0.500% 04/26/2024 MORGAN STANLEY CORP NOTES DTD 04/28/2014 3.875% 04/29/2024 AMERICAN HONDA FINANCE CORP NOTE DTD 06/27/2019 2.400% 06/27/2024 GOLDMAN SACHS GROUP INC (CALLABLE) BONDS DTD 07/08/2014 3.850% 07/08/2024 BMW US CAPITAL LLC CORPORATE NOTES DTD 08/12/2021 0.750% 08/12/2024 WALT DISNEY COMPANY/THE (CALLABLE) DTD 09/06/2019 1.750% 08/30/2024 PACCAR FINANCIAL CORP CORPORATE NOTES 61746BDQ6 02665WCZ2 38141EC23 400,000.00 WELLS_FA 400,000.00 WELLS_FA 400,000.00 SUSQ 98.62 97.16 98.25 394,490.80 388,621.60 393,009.60 (28,425.20) (9,394.40) (25,622.40) (9,087.36) (11,015.38) (9,688.98) 0.74 0.90 0.68 5.78 5.65 5.7904/08/24 07/30/24 05565EBU8 254687FK7 69371RQ66 70,000.00 GOLDMAN 400,000.00 JPM_CHAS 175,000.00 MERRILL 95.25 96.19 94.72 66,676.33 384,772.40 165,755.80 (3,317.37) (13,595.60) (17,138.45) (3,321.50) (14,873.40) (12,050.93) 1.03 0.99 1.49 5.54 5.41 5.48 DTD 02/06/2020 1.800% 02/06/2025 AMERICAN EXPRESS CO CORP NOTES (CALLABLE DTD 03/04/2022 2.250% 03/04/2025 ROCHE HOLDINGS INC (CALLABLE) CORPORATE DTD 03/10/2022 2.132% 03/10/2025 HOME DEPOT INC (CALLABLE) CORPORATE NOTE DTD 03/28/2022 2.700% 04/15/2025 CITIGROUP INC CORP NOTES DTD 04/27/2015 3.300% 04/27/2025 025816CQ0 771196BT8 437076CM2 172967JP7 80,000.00 BARCLAY 410,000.00 DEUTSCH 25,000.00 MORGAN_ 225,000.00 MKTX 02/01/25 02/10/25 03/15/25 95.01 95.24 96.01 96.56 76,010.88 390,472.52 24,003.10 217,253.25 (3,908.32) (19,527.48) (953.15) (3,946.29) (19,527.48) (972.43) 1.47 1.50 1.59 1.69 5.56 5.25 5.17 5.39(32,485.50)(16,992.84) Page 21 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description Next Call Date Market Price Market Value Unreal G/L On Cost Unreal G/L Amort Cost Effective Duration YTM at MktDated Date/Coupon/Maturity CUSIP Par Broker Corporate Note CINTAS CORPORATION NO. 2 CORP NOTE (CALL 17252MAP5 65,000.00 KEYBANC 04/01/25 96.79 62,913.11 (2,072.59)(2,078.54)1.62 5.39 DTD 05/03/2022 3.450% 05/01/2025 USAA CAPITAL CORP CORPORATE NOTES DTD 05/26/2022 3.375% 05/01/2025 GENERAL DYNAMICS CORP (CALLABLE) CORP NO DTD 05/11/2018 3.500% 05/15/2025 JPMORGAN CHASE & CO (CALLABLE) CORP NOTE DTD 06/01/2021 0.824% 06/01/2025 AMAZON INC CORP NOTES (CALLABLE) DTD 06/03/2020 0.800% 06/03/2025 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES 90327QD89 369550BG2 225,000.00 MERRILL 225,000.00 JPM_CHA 96.56 97.23 217,263.15 218,758.28 (7,001.10)(7,297.87)1.70 1.58 5.46 5.1403/15/25 06/01/24 05/03/25 (33,489.22)(16,279.38) 46647PCH7 315,000.00 JPM_CHA 95.65 301,310.73 (13,689.27)(13,689.27)0.83 3.28 023135BQ8 63254ABD9 475,000.00 GOLDMAN 250,000.00 CITIGRP 92.69 96.70 440,272.75 241,758.25 (34,494.50) (8,241.75) (34,641.50) (8,241.75) 1.75 1.81 5.00 5.39 DTD 06/09/2022 3.500% 06/09/2025 NATIONAL RURAL UTIL COOP CORPORATE NOTES 63743HFE7 50,000.00 RBC 96.35 48,172.75 (1,813.75)(1,819.14)1.82 5.53 DTD 05/04/2022 3.450% 06/15/2025 IBM CORP CORPORATE NOTES DTD 07/27/2022 4.000% 07/27/2025 BANK OF AMERICA CORP NOTES DTD 07/30/2015 3.875% 08/01/2025 ABBOTT LABORATORIES CORPORATE NOTES (CAL DTD 03/22/2017 3.875% 09/15/2025 BANK OF AMERICA CORP NOTES (CALLABLE) 459200KS9 06051GFS3 002824BM1 225,000.00 JPM_CHA 225,000.00 MERRILL 225,000.00 US_BANC 97.92 96.90 97.70 220,323.83 218,023.43 219,823.43 (4,676.17) (38,895.07) (38,022.07) (4,676.17) (19,888.81) (18,230.80) 1.93 1.91 1.80 5.11 5.53 5.0306/15/25 12/06/24 02/24/25 06051GKE8 46647PCV6 225,000.00 MERRILL 175,000.00 JPM_CHA 93.85 95.54 211,158.00 167,192.03 (13,842.00) (7,807.97) (13,842.00) (7,807.97) 1.34 1.53 4.31 4.45 DTD 12/06/2021 1.530% 12/06/2025 JPMORGAN CHASE & CO CORP NOTES (CALLABLE DTD 02/24/2022 2.595% 02/24/2026 Page 22 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description Next Call Date Market Price Market Value Unreal G/L On Cost Unreal G/L Amort Cost Effective Duration YTM at MktDated Date/Coupon/Maturity CUSIP Par Broker Corporate Note UNITEDHEALTH GROUP INC (CALLABLE) CORPOR DTD 05/19/2021 1.150% 05/15/2026 BMW US CAPITAL LLC (CALLABLE) CORPORATE DTD 08/12/2021 1.250% 08/12/2026 CATERPILLAR FINL SERVICE CORPORATE NOTES 91324PEC2 05565EBW4 14913R2U0 225,000.00 CITIGRP 175,000.00 MITSU 225,000.00 JPM_CHA 04/15/26 07/12/26 90.41 89.43 90.41 203,429.93 156,506.35 203,430.38 (21,178.57) (18,441.15) (20,433.37) (21,351.33) (18,461.75) (20,785.91) 2.67 2.88 3.35 4.86 5.05 4.75 DTD 01/10/2022 1.700% 01/08/2027 TARGET CORP CORP NOTES (CALLABLE) DTD 01/24/2022 1.950% 01/15/2027 BANK OF NY MELLON CORP (CALLABLE) CORPOR 87612EBM7 06406RBA4 40,000.00 CITIGRP 12/15/26 12/26/26 91.63 90.23 36,653.48 (3,278.52)(3,299.25)3.27 3.30 4.59 5.14475,000.00 DEUTSCH 428,605.33 (45,340.17)(45,658.14) DTD 01/26/2022 2.050% 01/26/2027 MICROSOFT CORP CORP NOTES (CALLABLE) DTD 02/06/2017 3.300% 02/06/2027 AMERICAN EXPRESS CO CORP NOTES (CALLABLE DTD 03/04/2022 2.550% 03/04/2027 BERKSHIRE HATHAWAY CORP NOTES (CALLABLE) DTD 03/15/2022 2.300% 03/15/2027 CHARLES SCHWAB CORP NOTES (CALLABLE) 594918BY9 025816CS6 084664CZ2 808513BW4 63254ABE7 750,000.00 GOLDMAN 300,000.00 RBS 11/06/26 02/01/27 02/15/27 01/01/27 95.92 91.35 93.02 93.19 96.04 719,372.25 274,059.00 441,837.88 279,578.10 480,192.00 (2,570.25) (3,144.00) (24,251.12) (5,346.90) (8,133.00) (5,273.40) (6,095.80) (26,703.60) (6,955.97) (9,553.23) 3.07 3.33 3.38 3.22 3.59 4.57 5.22 4.40 5.37 5.05 475,000.00 SEEL 300,000.00 BARCLAY 500,000.00 CBAA DTD 09/24/2021 3.300% 04/01/2027 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES DTD 06/09/2022 3.905% 06/09/2027 APPLE INC (CALLABLE) BONDS DTD 09/12/2017 2.900% 09/12/2027 TOYOTA MOTOR CREDIT CORP CORPORATE NOTES 037833DB3 89236TKQ7 775,000.00 TD 06/12/27 93.79 99.67 726,868.63 373,764.38 (14,194.12) (2,518.12) (18,002.79) (2,395.37) 3.64 4.06 4.57 4.71375,000.00 WELLS_F DTD 01/12/2023 4.625% 01/12/2028 Page 23 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description Next Call Date Market Price Market Value Unreal G/L On Cost Unreal G/L Amort Cost Effective Duration YTM at MktDated Date/Coupon/Maturity CUSIP Par Broker Corporate Note NATIONAL RURAL UTIL COOP CORP NOTES (CAL DTD 02/07/2018 3.400% 02/07/2028 TEXAS INSTRUMENTS INC CORP NOTE (CALLABL DTD 11/18/2022 4.600% 02/15/2028 BRISTOL-MYERS SQUIBB CO CORP NOTES (CALL DTD 07/15/2020 3.900% 02/20/2028 LOCKHEED MARTIN CORP NOTES (CALLABLE) 637432NP6 882508BV5 110122DE5 539830BZ1 24422EXB0 350,000.00 MORGAN_ 85,000.00 JPM_CHA 375,000.00 MKTX 11/07/27 01/15/28 11/20/27 04/15/28 93.38 100.08 96.70 326,817.75 85,068.17 362,629.88 59,460.00 376,959.38 (2,371.25) (1,975.23) 4,366.13 (432.00) (905.62) (4,209.88) (1,885.24) 3,058.76 (436.04) (894.58) 3.93 4.00 3.93 4.33 4.45 5.06 4.58 4.71 4.66 4.83 60,000.00 BARCLAY 375,000.00 CITIGRP 99.10 DTD 05/25/2023 4.450% 05/15/2028 JOHN DEERE CAPITAL CORP CORPORATE NOTES 100.52 DTD 07/14/2023 4.950% 07/14/2028 Security Type Sub-Total Certificate of Deposit 11,840,000.00 11,302,854.50 (546,545.80)(454,452.99)2.37 5.05 TORONTO DOMINION BANK NY CERT DEPOS DTD 10/31/2022 5.600% 10/27/2025 NORDEA BANK ABP NEW YORK CERT DEPOS 89115B6K1 65558UYF3 450,000.00 TD 99.94 99.16 449,749.71 446,197.50 (250.29)(250.29)2.93 2.13 5.59 5.93450,000.00 WELLS_F (3,802.50)(3,802.50) DTD 11/03/2022 5.530% 11/03/2025 Security Type Sub-Total Asset-Backed Security 900,000.00 895,947.21 (4,052.79)(4,052.79)2.53 5.76 GMALT 2021-2 A4 DTD 05/26/2021 0.410% 05/20/2025 HART 2021-A A3 380144AD7 44933LAC7 35,000.00 SOCGEN 40,296.85 BARCLAY 99.36 97.59 34,775.90 39,327.55 (221.15) (965.07) (222.77) (967.25) 0.14 0.44 0.77 1.53 DTD 04/28/2021 0.380% 09/15/2025 Page 24 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description Next Call Date Market Price Market Value Unreal G/L On Cost Unreal G/L Amort Cost Effective Duration YTM at MktDated Date/Coupon/Maturity CUSIP Par Broker Asset-Backed Security NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026 CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026 GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 CARMX 2022-3 A3 DTD 07/20/2022 3.970% 04/15/2027 NAROT 2022-B A3 DTD 09/28/2022 4.460% 05/17/2027 GMCAR 2022-4 A3 DTD 10/12/2022 4.820% 08/16/2027 TAOT 2023-A A3 DTD 01/30/2023 4.630% 09/15/2027 COMET 2022-A3 A DTD 11/03/2022 4.950% 10/15/2027 HDMOT 2023-A A3 DTD 02/23/2023 5.050% 12/15/2027 FORDO 2023-A A3 DTD 03/31/2023 4.650% 02/15/2028 DCENT 2023-A1 A DTD 04/11/2023 4.310% 03/15/2028 BACCT 2023-A1 A1 65480BAC1 89190GAC1 43815GAC3 14314QAC8 44935FAD6 254683CP8 362554AC1 14318MAD1 65480JAC4 36265QAD8 891940AC2 14041NGB1 41285JAD0 344928AD8 254683CY9 05522RDG0 02582JJZ4 205,927.99 MITSU 207,937.59 CITIGRP 97,490.23 MERRILL 67,628.11 MERRILL 78,227.49 SMBC 97.06 96.83 96.35 96.63 96.37 94.55 95.93 97.71 98.39 99.06 98.69 99.43 99.19 98.75 98.06 99.00 99.60 199,875.89 201,349.82 93,934.08 65,351.77 75,391.55 184,378.78 78,782.23 205,194.70 137,750.69 272,406.97 241,794.71 243,613.23 168,623.70 128,372.09 313,801.06 168,302.30 189,233.83 (6,048.61) (6,565.37) (3,535.60) (2,261.76) (2,818.48) (10,579.47) (3,342.92) (4,800.34) (2,220.34) (2,547.96) (3,205.17) (1,348.33) (1,359.18) (1,614.35) (6,180.38) (1,659.21) (749.32) (6,050.31) (6,576.15) (3,543.92) (2,268.64) (2,825.10) (10,594.96) (3,343.68) (4,801.42) (2,225.60) (2,555.42) (3,205.18) (1,354.09) (1,360.73) (1,615.29) (6,181.53) (1,660.20) (749.77) 0.57 0.57 0.78 0.59 0.73 1.10 0.82 1.31 1.65 1.67 1.65 2.05 1.86 2.05 2.43 2.55 2.56 1.69 1.67 2.40 1.87 2.08 2.39 2.02 4.64 4.92 5.08 4.98 5.10 5.26 4.96 4.78 5.02 4.96 195,000.00 CITIGRP 82,127.25 JPM_CHA 210,000.00 RBC 140,000.00 WELLS_F 275,000.00 RBC 245,000.00 MERRILL 245,000.00 RBC 170,000.00 JPM_CHA 130,000.00 BNP_PAR 320,000.00 RBC 170,000.00 MERRILL 190,000.00 RBC DTD 06/16/2023 4.790% 05/15/2028 AMXCA 2023-1 A DTD 06/14/2023 4.870% 05/15/2028 Page 25 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Security Type/Description Next Call Date Market Price Market Value Unreal G/L On Cost Unreal G/L Amort Cost Effective Duration YTM at MktDated Date/Coupon/Maturity CUSIP Par Broker Asset-Backed Security COMET 2023-A1 A DTD 05/24/2023 4.420% 05/15/2028 DCENT 2023-A2 A 14041NGD7 254683CZ6 490,000.00 RBC 98.24 99.59 481,399.91 348,552.37 (8,487.73) (1,400.35) (8,491.99) (1,401.24) 2.57 2.62 4.83 5.03350,000.00 MERRILL DTD 06/28/2023 4.930% 06/15/2028 Security Type Sub-Total 3,944,635.51 3,872,213.13 50,264,323.24 (71,911.09)(71,995.24)1.79 2.53 4.19 4.77Managed Account Sub-Total 53,374,635.51 (1,602,786.60)(1,779,506.69) Joint Powers Authority CAMP Pool 51,530.66 1.00 51,530.66 0.00 0.00 0.00 Liquid Sub-Total 51,530.66 51,530.66 0.00 0.00 0.00 Securities Sub-Total Accrued Interest Total Investments $53,426,166.17 $50,315,853.90 $210,256.88 $50,526,110.78 ($1,602,786.60)($1,779,506.69)2.53 4.77% Page 26 Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Transaction Type Principal Proceeds Accrued Interest Realized G/L Realized G/L Cost Amort Cost Sale MethodTrade BUY Settle Security Description CUSIP Par Total 07/03/23 07/13/23 07/18/23 07/19/23 07/21/23 07/07/23 07/20/23 07/31/23 07/27/23 07/25/23 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 FHMS K505 A2 DTD 07/01/2023 4.819% 06/01/2028 FNA 2023-M6 A2 DTD 07/01/2023 4.190% 07/01/2028 FHMS KJ46 A1 DTD 07/01/2023 4.777% 06/01/2028 JOHN DEERE CAPITAL CORP CORPORATE NOTES 91282CFB2 600,000.00 550,000.00 550,000.00 440,000.00 375,000.00 (565,640.63) (555,493.40) (540,675.78) (439,989.00) (377,865.00) (7,156.08)(572,796.71) (556,892.25) (542,596.20) (441,507.02) (378,432.19) 3137HACX2 3136BQDE6 3137HAD45 24422EXB0 (1,398.85) (1,920.42) (1,518.02) (567.19) DTD 07/14/2023 4.950% 07/14/2028 Transaction Type Sub-Total INTEREST 2,515,000.00 (2,479,663.81)(12,560.56)(2,492,224.37) 07/01/23 07/01/23 07/01/23 07/01/23 CT ST TXBL GO BONDS 20772KJW0 341271AD6 60,000.00 0.00 0.00 599.40 599.40 DTD 06/11/2020 1.998% 07/01/2024 FL ST BOARD OF ADMIN TXBL REV BONDS 310,000.00 1,949.90 1,949.90 DTD 09/16/2020 1.258% 07/01/2025 FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024 FHMS K054 A2 DTD 04/20/2016 2.745% 01/01/2026 FHLMC MULTIFAMILY STRUCTURED P DTD 07/01/2017 3.243% 04/01/2027 FHMS K058 A2 DTD 11/09/2016 2.653% 08/01/2026 FHMS K061 A2 07/01/23 07/01/23 07/01/23 07/01/23 07/01/23 07/08/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/08/23 3137BGK24 3137BNGT5 3137F1G44 3137BSP72 3137BTUM1 14913R2U0 250,000.00 275,000.00 550,000.00 550,000.00 380,000.00 225,000.00 0.00 0.00 0.00 0.00 0.00 0.00 637.92 629.06 637.92 629.06 1,486.38 1,215.96 1,059.88 1,912.50 1,486.38 1,215.96 1,059.88 1,912.50 DTD 01/30/2017 3.347% 11/01/2026 CATERPILLAR FINL SERVICE CORPORATE NOTES DTD 01/10/2022 1.700% 01/08/2027 Page 27 Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Transaction Type Principal Proceeds Accrued Interest Realized G/L Realized G/L Cost Amort Cost Sale MethodTradeSettleSecurity Description CUSIP Par Total INTEREST 07/08/23 07/12/23 07/08/23 GOLDMAN SACHS GROUP INC (CALLABLE) BONDS DTD 07/08/2014 3.850% 07/08/2024 TOYOTA MOTOR CREDIT CORP CORPORATE NOTES 38141EC23 400,000.00 0.00 7,700.00 7,700.00 07/12/23 89236TKQ7 375,000.00 0.00 8,671.88 8,671.88 DTD 01/12/2023 4.625% 01/12/2028 HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 FORDO 2023-A A3 DTD 03/31/2023 4.650% 02/15/2028 COMET 2022-A3 A DTD 11/03/2022 4.950% 10/15/2027 CARMX 2022-3 A3 DTD 07/20/2022 3.970% 04/15/2027 COMET 2023-A1 A DTD 05/24/2023 4.420% 05/15/2028 DCENT 2023-A1 A DTD 04/11/2023 4.310% 03/15/2028 TARGET CORP CORP NOTES (CALLABLE) 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 44933LAC7 344928AD8 14041NGB1 14318MAD1 14041NGD7 254683CY9 87612EBM7 44,391.84 130,000.00 245,000.00 210,000.00 490,000.00 320,000.00 40,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 14.06 503.75 14.06 503.75 1,010.63 694.75 1,010.63 694.75 3,068.22 1,149.33 390.00 3,068.22 1,149.33 390.00 DTD 01/24/2022 1.950% 01/15/2027 HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 HDMOT 2023-A A3 DTD 02/23/2023 5.050% 12/15/2027 AMXCA 2023-1 A DTD 06/14/2023 4.870% 05/15/2028 NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026 CARMX 2021-2 A3 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 44935FAD6 41285JAD0 02582JJZ4 65480BAC1 254683CP8 14314QAC8 80,000.00 170,000.00 190,000.00 222,479.99 195,000.00 72,749.48 0.00 0.00 0.00 0.00 0.00 0.00 49.33 715.42 796.79 61.18 49.33 715.42 796.79 61.18 94.25 94.25 31.52 31.52 DTD 04/21/2021 0.520% 02/17/2026 Page 28 Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Transaction Type Principal Proceeds Accrued Interest Realized G/L Realized G/L Cost Amort Cost Sale MethodTradeSettleSecurity Description CUSIP Par Total INTEREST 07/15/23 07/15/23 07/15/23 07/15/23 07/16/23 07/16/23 07/20/23 07/21/23 07/21/23 07/23/23 07/26/23 07/15/23 07/15/23 07/15/23 07/15/23 07/16/23 07/16/23 07/20/23 07/21/23 07/21/23 07/23/23 07/26/23 DCENT 2023-A2 A DTD 06/28/2023 4.930% 06/15/2028 TAOT 2023-A A3 DTD 01/30/2023 4.630% 09/15/2027 TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 NAROT 2022-B A3 DTD 09/28/2022 4.460% 05/17/2027 GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 GMCAR 2022-4 A3 DTD 10/12/2022 4.820% 08/16/2027 GMALT 2021-2 A4 DTD 05/26/2021 0.410% 05/20/2025 HAROT 2021-4 A3 254683CZ6 350,000.00 245,000.00 224,608.57 140,000.00 85,000.00 0.00 814.82 814.82 891940AC2 89190GAC1 65480JAC4 362554AC1 36265QAD8 380144AD7 43815GAC3 3137EAEU9 693475AV7 06406RBA4 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 945.29 48.67 945.29 48.67 520.33 48.17 520.33 48.17 275,000.00 35,000.00 1,104.58 11.96 1,104.58 11.96 100,000.00 425,000.00 400,000.00 475,000.00 73.33 73.33 DTD 11/24/2021 0.880% 01/21/2026 FREDDIE MAC NOTES 796.88 7,000.00 4,868.75 796.88 7,000.00 4,868.75 DTD 07/23/2020 0.375% 07/21/2025 PNC BANK NA CORP NOTES (CALLABLE) DTD 01/23/2019 3.500% 01/23/2024 BANK OF NY MELLON CORP (CALLABLE) CORPOR DTD 01/26/2022 2.050% 01/26/2027 IBM CORP CORPORATE NOTES DTD 07/27/2022 4.000% 07/27/2025 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 US TREASURY N/B NOTES 07/27/23 07/31/23 07/31/23 07/31/23 07/27/23 07/31/23 07/31/23 07/31/23 459200KS9 91282CCP4 91282CDV0 91282CFB2 225,000.00 3,800,000.00 1,750,000.00 2,600,000.00 0.00 0.00 0.00 0.00 4,500.00 11,875.00 7,656.25 4,500.00 11,875.00 7,656.25 DTD 01/31/2022 0.875% 01/31/2024 US TREASURY N/B NOTES 35,750.00 35,750.00 DTD 07/31/2022 2.750% 07/31/2027 Transaction Type Sub-Total PAYDOWNS 16,914,229.88 0.00 110,456.14 110,456.14 Page 29 Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Transaction Type Principal Proceeds Accrued Interest Realized G/L Realized G/L Cost Amort Cost Sale MethodTradeSettleSecurity Description CUSIP Par Total PAYDOWNS 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/16/23 07/21/23 07/15/23 07/15/23 07/15/23 07/15/23 07/15/23 07/16/23 07/21/23 HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 HAROT 2021-4 A3 44933LAC7 4,094.99 4,094.99 0.00 4,094.99 0.43 0.40 0.28 1.10 1.80 0.07 0.53 0.00 44935FAD6 65480BAC1 14314QAC8 89190GAC1 362554AC1 43815GAC3 1,772.51 16,552.00 5,121.37 16,670.98 2,872.75 2,509.77 1,772.51 16,552.00 5,121.37 16,670.98 2,872.75 2,509.77 0.00 0.00 0.00 0.00 0.00 0.00 1,772.51 16,552.00 5,121.37 16,670.98 2,872.75 2,509.77 0.00 0.00 0.00 0.00 0.00 0.00 DTD 11/24/2021 0.880% 01/21/2026 Transaction Type Sub-Total SELL 49,594.37 49,594.37 0.00 49,594.37 4.61 0.00 07/03/23 07/03/23 07/13/23 07/13/23 07/13/23 07/18/23 07/19/23 07/21/23 07/07/23 07/07/23 07/20/23 07/20/23 07/20/23 07/25/23 07/26/23 07/25/23 FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 US TREASURY N/B NOTES DTD 01/31/2022 0.875% 01/31/2024 US TREASURY N/B NOTES DTD 01/31/2022 0.875% 01/31/2024 JOHN DEERE CAPITAL CORP CORPORATE NOTES 3137EAEW5 3137EAEW5 91282CBC4 91282CBC4 91282CBC4 91282CDV0 91282CDV0 24422EVU0 225,000.00 275,000.00 350,000.00 125,000.00 150,000.00 550,000.00 300,000.00 100,000.00 223,044.75 272,610.25 317,666.01 113,452.15 136,142.58 537,603.52 293,261.72 94,796.00 185.94 227.25 71.33 223,230.69 272,837.50 317,737.34 113,477.63 136,173.15 539,930.00 294,537.96 95,030.38 (1,996.34) (2,299.00) (27,193.37) (10,483.40) (10,910.15) 8,572.27 (1,957.61) (2,384.55) (29,575.68) (10,955.75) (12,247.04) (1,884.44) (1,034.62) (5,179.51) FIFO FIFO FIFO FIFO FIFO FIFO FIFO FIFO 25.48 30.57 2,326.48 1,276.24 234.38 4,699.22 (5,139.00) DTD 09/10/2021 0.625% 09/10/2024 Page 30 Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Transaction Type Principal Proceeds Accrued Interest Realized G/L Realized G/L Sale MethodTrade SELL Settle Security Description CUSIP Par Total Cost Amort Cost 07/21/23 07/25/23 US TREASURY N/B NOTES 91282CDV0 300,000.00 293,167.97 1,268.99 294,436.96 4,605.47 (1,098.19)FIFO DTD 01/31/2022 0.875% 01/31/2024 Transaction Type Sub-Total Managed Account Sub-Total Total Security Transactions 2,375,000.00 2,281,744.95 (148,324.49) ($148,324.49) 5,646.66 103,542.24 $103,542.24 2,287,391.61 (44,782.25) ($44,782.25) (40,144.30) (40,139.69) ($40,139.69) (66,317.39) (66,317.39) ($66,317.39) Page 31 Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Trade Date Settlement Date Share or Unit Price Dollar Amount of Transaction Total Shares OwnedTransaction Description CAMP Pool Opening Balance 07/03/23 07/03/23 07/07/23 07/07/23 07/07/23 07/07/23 07/10/23 07/10/23 07/12/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 99,538.78 100,138.18 102,088.08 597,743.08 598,156.27 591,000.19 25,359.56 27,272.06 34,972.06 43,643.94 44,033.94 44,979.23 45,027.90 45,548.23 45,609.41 45,658.74 45,672.80 46,388.22 47,492.80 47,540.97 48,044.72 48,859.54 07/03/23 07/03/23 07/07/23 07/07/23 07/07/23 07/07/23 07/10/23 07/10/23 07/12/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 Purchase - Interest 20772KJW0 Purchase - Interest 341271AD6 Purchase - Principal 3137EAEW5 Purchase - Interest 3137EAEW5 Redemption - Interest 91282CFB2 Redemption - Principal 91282CFB2 Purchase - Interest 14913R2U0 Purchase - Interest 38141EC23 Purchase - Interest 89236TKQ7 Purchase - Interest 87612EBM7 Purchase - Interest 891940AC2 Purchase - Interest 89190GAC1 Purchase - Interest 65480JAC4 Purchase - Interest 65480BAC1 Purchase - Interest 44935FAD6 Purchase - Interest 44933LAC7 Purchase - Interest 41285JAD0 Purchase - Interest 36265QAD8 Purchase - Interest 362554AC1 Purchase - Interest 344928AD8 Purchase - Interest 254683CZ6 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 599.40 1,949.90 495,655.00 413.19 (7,156.08) (565,640.63) 1,912.50 7,700.00 8,671.88 390.00 945.29 48.67 520.33 61.18 49.33 14.06 715.42 1,104.58 48.17 503.75 814.82 Page 32 Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Trade Date Settlement Date Share or Unit Price Dollar Amount of Transaction Total Shares OwnedTransaction Description CAMP Pool 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/20/23 07/20/23 07/20/23 07/20/23 07/20/23 07/21/23 07/21/23 07/21/23 07/24/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/17/23 07/20/23 07/20/23 07/20/23 07/20/23 07/20/23 07/21/23 07/21/23 07/21/23 07/24/23 Purchase - Interest 254683CY9 Purchase - Interest 254683CP8 Purchase - Interest 14318MAD1 Purchase - Interest 14314QAC8 Purchase - Interest 14041NGD7 Purchase - Interest 14041NGB1 Purchase - Interest 02582JJZ4 Purchase - Principal 14314QAC8 Purchase - Principal 44933LAC7 Purchase - Principal 89190GAC1 Purchase - Principal 362554AC1 Purchase - Principal 65480BAC1 Purchase - Principal 44935FAD6 Purchase - Interest 380144AD7 Purchase - Interest 91282CBC4 Purchase - Principal 91282CBC4 Redemption - Principal 3137HACX2 Redemption - Interest 3137HACX2 Purchase - Interest 3137EAEU9 Purchase - Interest 43815GAC3 Purchase - Principal 43815GAC3 Purchase - Interest 693475AV7 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1,149.33 94.25 50,008.87 50,103.12 50,797.87 50,829.39 53,897.61 54,908.24 55,705.03 60,826.40 64,921.39 81,592.37 84,465.12 101,017.12 102,789.63 102,801.59 102,928.97 670,189.71 114,696.31 113,297.46 114,094.34 114,167.67 116,677.44 123,677.44 694.75 31.52 3,068.22 1,010.63 796.79 5,121.37 4,094.99 16,670.98 2,872.75 16,552.00 1,772.51 11.96 127.38 567,260.74 (555,493.40) (1,398.85) 796.88 73.33 2,509.77 7,000.00 Page 33 Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Trade Date Settlement Date Share or Unit Price Dollar Amount of Transaction Total Shares OwnedTransaction Description CAMP Pool 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/26/23 07/26/23 07/26/23 07/26/23 07/26/23 07/27/23 07/27/23 07/27/23 07/31/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/25/23 07/26/23 07/26/23 07/26/23 07/26/23 07/26/23 07/27/23 07/27/23 07/27/23 07/31/23 Purchase - Interest 3137F1G44 Purchase - Interest 3137BTUM1 Purchase - Interest 3137BSP72 Purchase - Interest 3137BNGT5 Purchase - Interest 3137BGK24 Purchase - Principal 91282CDV0 Purchase - Interest 91282CDV0 Purchase - Principal 91282CDV0 Purchase - Interest 91282CDV0 Purchase - Principal 24422EVU0 Purchase - Interest 24422EVU0 Redemption - Interest 24422EXB0 Redemption - Principal 24422EXB0 Purchase - Interest 06406RBA4 Purchase - Interest 91282CDV0 Purchase - Principal 91282CDV0 IP Fees June 2023 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1,486.38 1,059.88 1,215.96 629.06 125,163.82 126,223.70 127,439.66 128,068.72 128,706.64 666,310.16 667,579.15 960,747.12 963,073.60 1,057,869.60 1,058,103.98 1,057,536.79 679,671.79 684,540.54 685,816.78 979,078.50 975,238.40 975,011.15 979,511.15 977,993.13 538,004.13 549,879.13 637.92 537,603.52 1,268.99 293,167.97 2,326.48 94,796.00 234.38 (567.19) (377,865.00) 4,868.75 1,276.24 293,261.72 (3,840.10) (227.25)U.S. Bank Fees May 2023 Purchase - Interest 459200KS9 Redemption - Interest 3137HAD45 Redemption - Principal 3137HAD45 Purchase - Interest 91282CCP4 4,500.00 (1,518.02) (439,989.00) 11,875.00 Page 34 Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending July 31, 2023 Trade Date Settlement Date Share or Unit Price Dollar Amount of Transaction Total Shares OwnedTransaction Description CAMP Pool 07/31/23 07/31/23 07/31/23 07/31/23 07/31/23 07/31/23 07/31/23 07/31/23 07/31/23 08/01/23 Purchase - Interest 91282CDV0 Purchase - Interest 91282CFB2 Redemption - Principal 3136BQDE6 Redemption - Interest 3136BQDE6 1.00 1.00 1.00 1.00 1.00 7,656.25 35,750.00 (540,675.78) (1,920.42) 841.48 557,535.38 593,285.38 52,609.60 50,689.18 51,530.66Accrual Income Div Reinvestment - Distributions Closing Balance 51,530.66 Month of Fiscal YTD July January-July Opening Balance Purchases Redemptions (Excl. Checks) Check Disbursements 99,538.78 2,448,283.60 (2,496,291.72) 0.00 46,870.41 29,922,880.78 (29,918,220.53) 0.00 Closing Balance Average Monthly Balance Monthly Distribution Yield 51,530.66 184,686.41 5.31% Closing Balance 51,530.66 51,530.66 Cash Dividends and Income 841.48 25,016.63 Page 35 Review of Investment Performance CAMP Accounts City of Lake Elsinore Investment Performance Review For the Quarter Ended June 30, 2023 PFM Asset Management LLC NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public Market Update © PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Market Update Current Market Themes ▸ The U.S. economy is characterized by: ▹ Headline inflation numbers trending lower, but the Fed’s current focus, “supercore inflation,” is showing 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 temporary pause in June ▹ The Fed’s most recent dot plot shows the potential for two additional rate hikes by the end of the year ▹ Rates have moved up due to the Fed’s rate trajectory shifting higher, the economy remaining stronger 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 a potential 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 basis points ▹ The curve inversion fell dramatically at the start of Q2, but moved toward historic levels in June 1© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Market Update Inflation Measures Remain Above Fed’s Target The Fed’s Key Inflation Rate Personal Consumption Expenditure Price Index, Year-over-year PCE Core PCE Supercore PCE8% 7% “Supercore” inflation, which 6% 5% 4% 3% 2% 1% 0% 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. 4.6% 4.5% 3.8% Fed’s long-term target Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Source: Federal Reserve, Bloomberg, Bureau of Economic Analysis as of May 2023. 2© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Market Update Consumers Have Been Spending More on Services Change in Consumer Spending Month-over-month Consumer Spending Goods Services 4.0% 3.5% 3.0% 3.4% 2.5% 1.9%2.0% 1.5% 1.0% 0.5% 0.0% -0.5% -1.0% -1.5% 1.2% 0.9% 0.7%0.6%0.5%0.4%0.4% 0.1% 0.3% 0.1% -0.1% -0.5% -1.0% January-23 February-23 March-23 April-23 May-23 Source: Bloomberg, Bureau of Economic Analysis as of May 2023. 3© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Market Update Fed’s Updated June Projections Reflect Stronger Economic Expectations for 2023 Change in Real GDP Unemployment Rate 4% 3% 2% 1% 0% 10% 8% 6% 4% 2% 0% March Projections June Projections March Projections June Projections 1.8%1.8%4.5%4.5%4.1%4.0% 1.1%1.0% 2023 2024 2025 Longer Run 2023 2024 2025 Longer Run PCE Inflation Federal Funds Rate March Projections June Projections March Projections June Projections6% 5% 4% 3% 2% 1% 0% 8% 6% 4% 2% 0% 5.6% 4.6%3.2% 2.5%3.4%2.1%2.0%2.5% 2023 2024 2025 Longer Run 2023 2024 2025 Longer Run Source: Federal Reserve, latest economic projections as of June 2023. 4© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Market Update How Long Have Rates Stayed at the Peak? Federal Funds Rate Cycles Peaks of previous Fed rate cycles, indexed to 0% Once the Fed reaches their peak Fed Funds rate, they have historically held rates at that level for around 8 months 0.0% -0.5% -1.0% -1.5% -2.0% -2.5% -3.0% -3.5% -4.0% -4.5% -5.0% 2015 1994 2004 1988 average length at peak 1999 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 18 Months before rates peak Months after rates peak Source: Federal Reserve, Bloomberg. 5© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Market Update Interest Rates Rise as “Higher-for-Longer” Mantra Sets In U.S. Treasury Yield Curve 6.0% 5.28% 4.90%5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 4.16% 3.84%3.86% June 30, 2023 March 31, 2023 3-Month 2-Year 5-Year 10-Year 30-YearMaturity Yield Changes by Maturity from March 31 – June 30, 2023 1.00% 0.80% 0.60% 0.40% 0.20% 0.00% 0.87% 0.74%0.80% 0.59%0.58% 5-Year 0.55%0.46% 7-Year 0.37% 0.21% 3-Month 6-Month 12-Month 2-Year 3-Year 10-Year 30-Year Source: Bloomberg, as of 06/30/2023. 6© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Market Update Treasury Yields Move Upward on Expectation for Future Rate Increases 2-Year Treasury Yield 10-Year Treasury Yield 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 6/30 4.90% 3/31 4.03% +0.87%6/30 3.84% 3/31 3.47%+0.37% Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Source: Bloomberg, as of 06/30/2023. 7© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Market Update Sector Yield Spreads Federal Agency Yield Spreads Corporate Notes A-AAA Yield Spreads 0.8% 0.6% 0.4% 0.2% 0.0% 1.2% 1.0% 0.8% 0.6% 0.4% 0.2% 0.0% Bullet Callable Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Mortgage-Backed Securities Yield Spreads Asset-Backed Securities AAA Yield Spreads 1.5%2.0% 1.5% 1.0% 0.5% 0.0% Agency MBS AAA CMBS Index 1.0% 0.5% 0.0% Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Source: 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. 8© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Market Update Fixed-Income Markets in Q2 2023 1-5 Year Indices 1-5 Year Indices Quarterly Returns 10-Year Average 1.0% 0.5% 0.0% -0.5% -1.0% 2.5% 2.0% 2.25% 1.76% 0.31%0.29% 1.5%1.35% -0.05% 1.0% 0.5% 0.0% 0.85%0.83% -0.39% -0.86% Source: ICE BofAML Indices. ABS indices are 0-5 year, based on weighted average life. As of 6/30/2023. 9© PFM Asset Management LLC | pfmam.com Portfolio Review © PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Snapshot Managed Portfolio Snapshot¹ Portfolio Statistics Sector Allocation Total Market Value Managed Account Sub-Total Accrued Interest $50,373,604.35 $50,049,438.56 $224,627.01 $99,538.78 U.S. Treasury | 50% Corporate | 22%Pool Federal Agency | 9% ABS | 8% Agency CMBS | 4% Municipal | 3% Supranational | 2% Negotiable CD | 2% JointPowers Authority | <1% Portfolio Effective Duration Benchmark Effective Duration Yield At Cost 2.46 years 2.50 years 2.91% Yield At Market 4.76% Portfolio Credit Quality AA Credit Quality - S&P Duration Distribution Portfolio 35% Benchmark 47%AAA | 10%50% 40% 30% 20% 10% 0% AAAm | <1% AA+ | 65% AA| 4% AA- | 4% A+ | 2% A| 3% A- | 8% BBB+ | 2% Not Rated | 2% 26%22%19%17%15%12% 4%2% 0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs 1. 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. 10© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Account Summary Managed Portfolio Sector Allocation Analytics U.S. Treasury - $25,163,124 50.0% Federal Agency - $4,735,841 Agency CMBS - $1,906,270 Supranational - $1,089,414 Municipal - $1,448,415 Negotiable CD - $916,797 Corporate - $11,091,179 ABS - $3,923,025 9.4% 3.8% 2.2% 2.9% 1.8% 22.0% 7.8% Joint Powers Authority - $99,539 0.2% 0.0%20.0%40.0%60.0%80.0%100.0% Portf olio Allocation Sector Limit for Analysis* For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest. *Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided. 11© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Compliance Certificate of Compliance During the reporting period for the quarter ended June 30, 2023, the account(s) managed by PFM Asset Management ("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM. Acknowledged : PFM Asset Management LLC Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM"). 12© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Activity Managed Portfolio Activity Net Activity by Sector ($ millions) Sector Net Activity $1,687,915 $1,301,322 $147,945 Agency CMBS ABSAgency CMBS ABS Corporate Supranational U.S. Treasury Total Net Activity ($245,000) ($2,731,425) $160,757 Corporate Supranational U.S. Treasury s ($4.0)($2.0)$0.0 $2.0 Sales/Maturities Purchases Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding. 13© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Characteristics Managed Portfolio Historical Sector Allocation 5%8% 22% 2% 22% 2%3% 3%3%1% 9% 2% 4% 9% 56% 50% Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. 14© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Performance Managed Portfolio Performance Portfolio Benchmark 1.5% 1.0% 0.5% 0.0% -0.5% -1.0% -1.5% -2.0%3 Months 1 Year 3 Years 5 Years 10 Years Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years 10 Years¹ Interest Earned² Change in Market Value Total Dollar Return Total Return³ $241,808 ($471,252) ($229,444) $672,260 ($519,832) $152,428 $1,624,309 ($2,938,054) ($1,313,745) $3,259,655 ($809,992) $2,449,663 $5,495,302 ($1,407,816) $4,087,486 Portfolio -0.45% -0.86% 0.41% 0.19% -0.43% 0.62% -1.48% -1.79% 0.31% 1.18% 0.90% 0.28% 1.15% 0.85% 0.29% Benchmark⁴ Difference 1. 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. 2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity. 3. 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. 4. The portfolio’s benchmark is the ICE BofA 1-5 Year U.S. Treasury Index. Source: Bloomberg. 15© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Performance Quarterly Sector Performance Total Return by Sector Contribution to Total Return Price Returns Income Returns 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% 0.39% 0.09% 0.68% 0.10% -1.20% -0.03% U.S. Treasury 0.20% 0.00% -0.20% -0.40% -0.60% Federal Agency -1.88%Agency CMBS Supranational Municipal Negotiable CD Corporate ABS 0.25% 0.41%-0.63% 1.39%-0.79% -0.82% -0.77% 0.72% 0.74% 4.89%Cash -4.0%-1.8%0.4%2.6%4.8%7.0% ReturnReturn 1. Performance on trade-date basis, gross (i.e., before fees), in accordance with the CFA Institute’s Global Investment Performance Standards (GIPS). 2. Income returns calculated as interest earned on investments during the period. 3. Price returns calculated as the change in market value of each security for the period. 4. Returns are presented on a periodic basis. 16© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Performance Accrual Basis Earnings Accrual Basis Earnings 3 Months 1 Year 3 Years 5 Year 10 Year¹ Interest Earned²$241,808 ($55,000) $129,210 $316,018 $672,260 ($445,736) $262,563 $489,087 $1,624,309 ($21,846) $112,660 $3,259,655 $181,102 $5,495,302 $336,038Realized Gains / (Losses)³ Change in Amortized Cost Total Earnings $199,014 $3,639,771 ($49,261) $5,782,079$1,715,124 1. The lesser of 10 years or since inception is shown. Performance inception date is September 30, 2010. 2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity. 3. Realized gains / (losses) are shown on an amortized cost basis. 17© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Market Update Fixed-Income Sector Outlook – 3Q 2023 Sector Our Investment Preferences C O M M E R C I A L PA P E R / C D T R E A S U R I E S T-Bill T-Note F E D E R A L A G E N C I E S Bullets Callables S U P R A N AT I O N A L S C O R P O R AT E S Financials Industrials S E C U R I T I Z E D Asset-Backed Agency Mortgage-Backed Agency CMBS M U N I C I PA L S Slightly Negative Slightly PositiveCurrent outlook Outlook one quarter ago Negative Neutral Positive 18© PFM Asset Management LLC | pfmam.com Issuer Distribution © PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Summary Issuer Diversification Security Type / Issuer U.S. Treasury Market Value (%) S&P / Moody's / Fitch Security Type / Issuer Market Value (%) S&P / Moody's / Fitch 22.1%50.1%Corporate UNITED STATES TREASURY 50.1%AA / Aaa / AAA ABBOTT LABORATORIES AMAZON.COM INC 0.4% 0.9% 0.7% 0.8% 1.5% 0.9% 0.9% 0.4% 0.7% 0.4% 0.8% 0.1% 0.4% 0.2% 0.4% 0.8% 0.0% 0.4% 0.9% 0.1% 1.5% 0.8% 1.4% 0.8% AA / Aa / NR AA / A / AA BBB / A / A A / A / A Federal Agency 9.4% AMERICAN EXPRESS CO AMERICAN HONDA FINANCE APPLE INC FANNIE MAE 3.1% 0.9% 5.4% 3.8% AA / Aaa / AAA AA / Aaa / NR AA / Aaa / AAA FEDERAL HOME LOAN BANKS FREDDIE MAC AA / Aaa / NR A / A / AA AA / Aa / A A / A / NR A / A / NR A / A / A BANK OF AMERICA CO BERKSHIRE HATHAWAY INC BMW FINANCIAL SERVICES NA LLC BRISTOL-MYERS SQUIBB CO CATERPILLAR INC Agency CMBS FREDDIE MAC 3.8%AA / Aaa / AAA Supranational 2.2% INTER-AMERICAN DEVELOPMENT BANK INTL BANK OF RECONSTRUCTION AND DEV Municipal 1.2% 1.0% 2.9% AAA / Aaa / AAA AAA / Aaa / AAA CHARLES SCHWAB A / A / A CINTAS CORPORATION NO. 2 CITIGROUP INC A / A / NR BBB / A / A A / A / A CALIFORNIA STATE UNIVERSITY 0.2% 0.2% AA / Aa / NR AA / Aa / NRCHAFFEY JOINT UNION HIGH SCHOOL DISTRICT DEERE & COMPANY GENERAL DYNAMICS CORP GOLDMAN SACHS GROUP INC HOME DEPOT INC A / A / NR BBB / A / A A / A / A FLORIDA STATE BOARD OF ADMIN FIN CORP 0.6% 0.3% AA / Aa / AA LOS ANGELES COMMUNITY COLLEGE DISTRICT AA / Aaa / NR NEW YORK ST URBAN DEVELOPMENT CORP SAN JUAN UNIFIED SCHOOL DISTRICT STATE OF CALIFORNIA 0.6% 0.2% 0.4% 0.1% 0.2% 0.2% 1.8% NR / NR / AA NR / Aa / NR AA / Aa / AA AA / Aa / AA AAA / Aaa / AAA AA / Aa / AA IBM CORP A / A / NR A / A / AA A / A / A JP MORGAN CHASE & CO LOCKHEED MARTIN CORP MICROSOFT CORPSTATE OF CONNECTICUT AAA / Aaa / NR A / A / ASTATE OF MINNESOTA MORGAN STANLEY UNIVERSITY OF CALIFORNIA Negotiable CD NATIONAL AUSTRALIA BANK LTD AA / Aa / NR A / A / ANATIONAL RURAL UTILITIES CO FINANCE CORPNORDEA BANK ABP 0.9% 0.9% AA / Aa / AA A / A / NR PACCAR FINANCIAL CORP 0.3% 0.8% A / A / NR A / A / ATORONTO-DOMINION BANK PNC FINANCIAL SERVICES GROUP 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 balances invested in overnight funds. 19© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Summary Issuer Diversification Security Type / Issuer Corporate Market Value (%) S&P / Moody's / Fitch 22.1% Roche Holding AG 0.8% 0.1% 0.2% 1.3% AA / Aa / AA A / A / ATARGET CORP TEXAS INSTRUMENTS INC A / Aa / NR A / A / AATHE BANK OF NEW YORK MELLON CORPORATION THE WALT DISNEY CORPORATION TOYOTA MOTOR CORP UNITEDHEALTH GROUP INC USAA CAPITAL CORP ABS 0.8% 0.8% 0.4% 0.4% 7.8% A / A / A A / A / A A / A / A AA / Aa / NR AMERICAN EXPRESS CO 0.4% 0.3% 1.4% 0.5% 1.7% 0.3% 0.7% AAA / NR / AAA AAA / NR / AAA AAA / NR / AAA AAA / NR / AAA AAA / Aaa / AAA AAA / NR / AAA AAA / Aaa / AAA BANK OF AMERICA CO CAPITAL ONE FINANCIAL CORP CARMAX AUTO OWNER TRUST DISCOVER FINANCIAL SERVICES FORD CREDIT AUTO OWNER TRUST GM FINANCIAL CONSUMER AUTOMOBILE TRUST GM FINANCIAL LEASINGTRUST HARLEY-DAVIDSON MOTORCYCLE TRUST HONDA AUTO RECEIVABLES HYUNDAI AUTO RECEIVABLES NISSAN AUTO RECEIVABLES TOYOTA MOTOR CORP 0.1% 0.3% AAA / NR / AAA NR / Aaa / AAA NR / Aaa / AAA AAA / NR / AAA AAA / Aaa / NR AAA / NR / AAA 0.2% 0.2% 0.7% 0.9% Total 100.0% 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 balances invested in overnight funds. 20© PFM Asset Management LLC | pfmam.com Portfolio Transactions © PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon BUY 4/4/2023 4/6/2023 4/11/2023 5/1/2023 5/11/2023 5/17/2023 5/19/2023 5/23/2023 6/2/2023 6/7/2023 6/8/2023 6/8/2023 6/21/2023 4/11/2023 4/12/2023 4/14/2023 5/5/2023 320,000.00 550,000.00 275,000.00 375,000.00 85,000.00 254683CY9 3137BSP72 3137BNGT5 91282CFB2 882508BV5 14041NGD7 3137BTUM1 539830BZ1 91282CFB2 02582JJZ4 05522RDG0 3137F1G44 254683CZ6 DCENT 2023-A1 A 4.31% 2.65% 2.74% 2.75% 4.60% 4.42% 3.34% 4.45% 2.75% 4.87% 4.79% 3.24% 4.93% 3/15/2028 8/1/2026 319,981.44 527,285.69 263,885.87 365,006.93 88,053.48 4.31% 4.02% 4.37% 3.62% 4.04% 4.42% 4.31% 4.49% 3.97% 4.87% 4.79% 4.44% 4.93% FHMS K058 A2 FHMS K054 A2 1/1/2026 US TREASURY N/B NOTES TEXAS INSTRUMENTS INC CORP NOTE (CALLABL COMET 2023-A1 A 7/31/2027 2/15/2028 5/15/2028 11/1/2026 5/15/2028 7/31/2027 5/15/2028 5/15/2028 4/1/2027 5/18/2023 5/24/2023 5/24/2023 5/25/2023 6/6/2023 490,000.00 380,000.00 60,000.00 489,887.64 369,115.71 59,892.00 FHMS K061 A2 LOCKHEED MARTIN CORP NOTES (CALLABLE) US TREASURY N/B NOTES AMXCA 2023-1 A 825,000.00 190,000.00 170,000.00 550,000.00 350,000.00 4,620,000.00 794,676.05 189,983.15 169,961.51 527,627.75 349,952.72 4,515,309.94 6/14/2023 6/16/2023 6/13/2023 6/28/2023 BACCT 2023-A1 A1 FHLMC MULTIFAMILY STRUCTURED P DCENT 2023-A2 A 6/15/2028 Total BUY INTEREST 4/1/2023 0.00 4/1/2023 300,000.00 250,000.00 808513BW4 3137BGK24 CHARLES SCHWAB CORP NOTES (CALLABLE) FHMS K043 A2 3.30% 3.06% 4/1/2027 4,950.00 637.924/1/2023 4/25/2023 12/1/2024 21© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 4/14/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/16/2023 4/16/2023 4/16/2023 4/14/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/16/2023 4/16/2023 4/16/2023 350,000.00 278,383.99 80,000.00 140,000.00 195,000.00 210,000.00 170,000.00 89,088.86 245,000.00 245,000.00 130,000.00 25,000.00 57,128.64 273,072.88 325,000.00 85,000.00 275,000.00 3130AJHU6 89190GAC1 44935FAD6 65480JAC4 254683CP8 14318MAD1 41285JAD0 14314QAC8 14041NGB1 891940AC2 344928AD8 437076CM2 44933LAC7 65480BAC1 3137EAEY1 362554AC1 36265QAD8 FEDERAL HOME LOAN BANK NOTES TAOT 2021-B A3 0.50% 0.26% 0.74% 4.46% 0.58% 3.97% 5.05% 0.52% 4.95% 4.63% 4.65% 2.70% 0.38% 0.33% 0.12% 0.68% 4.82% 4/14/2025 11/17/2025 5/15/2026 5/17/2027 9/15/2026 4/15/2027 12/15/2027 2/17/2026 10/15/2027 9/15/2027 2/15/2028 4/15/2025 9/15/2025 10/15/2025 10/16/2023 9/16/2026 8/16/2027 875.00 60.32 49.33HART 2021-C A3 NAROT 2022-B A3 520.33 94.25DCENT 2021-A1 A1 CARMX 2022-3 A3 694.75 715.42 38.61 HDMOT 2023-A A3 CARMX 2021-2 A3 COMET 2022-A3 A 1,010.63 945.29 251.88 337.50 18.09 TAOT 2023-A A3 FORDO 2023-A A3 HOME DEPOT INC (CALLABLE) CORPORATE NOTE HART 2021-A A3 NAROT 2021-A A3 75.09 FREDDIE MAC NOTES GMCAR 2021-4 A3 203.13 48.17 GMCAR 2022-4 A3 1,104.58 22© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 4/20/2023 4/20/2023 4/20/2023 4/21/2023 4/22/2023 4/26/2023 4/27/2023 4/29/2023 4/30/2023 4/30/2023 5/1/2023 5/1/2023 5/1/2023 5/1/2023 5/1/2023 5/1/2023 5/3/2023 4/20/2023 4/20/2023 4/20/2023 4/21/2023 4/22/2023 4/26/2023 4/27/2023 4/29/2023 4/30/2023 4/30/2023 5/1/2023 35,000.00 380144AD7 459058JV6 36261RAD0 43815GAC3 3135G03U5 06406RAS6 172967JP7 61746BDQ6 91282CBW0 91282CEN7 13077DQD7 90327QD89 17252MAP5 3137BGK24 3137BNGT5 3137BSP72 65558UYF3 GMALT 2021-2 A4 0.41% 0.12% 0.33% 0.88% 0.62% 0.50% 3.30% 3.87% 0.75% 2.75% 0.86% 3.37% 3.45% 3.06% 2.74% 2.65% 5.53% 5/20/2025 4/20/2023 2/20/2025 1/21/2026 4/22/2025 4/26/2024 4/27/2025 4/29/2024 4/30/2026 4/30/2027 11/1/2025 5/1/2025 11.96 INTL BK OF RECON AND DEV NOTE GMALT 2021-1 A4 154.35 23.3885,000.00 100,000.00 350,000.00 210,000.00 225,000.00 400,000.00 1,025,000.00 1,200,000.00 85,000.00 HAROT 2021-4 A3 73.33 FANNIE MAE NOTES 1,093.75 525.00BANK OF NY MELLON CORP NOTES (CALLABLE) CITIGROUP INC CORP NOTES MORGAN STANLEY CORP NOTES US TREASURY N/B NOTES US TREASURY N/B NOTES CA ST UNIV TXBL REV BONDS USAA CAPITAL CORP CORPORATE NOTES CINTAS CORPORATION NO. 2 CORP NOTE (CALL FHMS K043 A2 3,712.50 7,750.00 3,843.75 16,500.00 366.35 5/1/2023 225,000.00 65,000.00 3,796.88 1,121.25 637.92 5/1/2023 5/1/2025 5/25/2023 5/25/2023 5/25/2023 5/3/2023 250,000.00 275,000.00 550,000.00 450,000.00 12/1/2024 1/1/2026FHMS K054 A2 629.06 FHMS K058 A2 8/1/2026 1,215.96 12,442.50NORDEA BANK ABP NEW YORK CERT DEPOS 11/3/2025 23© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 5/6/2023 5/6/2023 350,000.00 650,000.00 85,000.00 3137EAEZ8 3135G06G3 91412HGE7 14314QAC8 254683CY9 65480JAC4 891940AC2 344928AD8 912828U24 369550BG2 65480BAC1 14318MAD1 44935FAD6 41285JAD0 89190GAC1 44933LAC7 254683CP8 FREDDIE MAC NOTES FANNIE MAE NOTES UNIV OF CAL TXBL REV BONDS CARMX 2021-2 A3 0.25% 0.50% 0.88% 0.52% 4.31% 4.46% 4.63% 4.65% 2.00% 3.50% 0.33% 3.97% 0.74% 5.05% 0.26% 0.38% 0.58% 11/6/2023 11/7/2025 5/15/2025 2/17/2026 3/15/2028 5/17/2027 9/15/2027 2/15/2028 11/15/2026 5/15/2025 10/15/2025 4/15/2027 5/15/2026 12/15/2027 11/17/2025 9/15/2025 9/15/2026 437.50 5/7/2023 5/7/2023 1,625.00 375.28 36.09 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 83,277.34 320,000.00 140,000.00 245,000.00 130,000.00 12,825,000.00 225,000.00 255,049.67 210,000.00 80,000.00 DCENT 2023-A1 A 1,302.58 520.33 945.29 503.75 128,250.00 3,937.50 70.14 NAROT 2022-B A3 TAOT 2023-A A3 FORDO 2023-A A3 US TREASURY NOTES GENERAL DYNAMICS CORP (CALLABLE) CORP NO NAROT 2021-A A3 CARMX 2022-3 A3 694.75 49.33HART 2021-C A3 170,000.00 259,398.26 52,611.70 HDMOT 2023-A A3 715.42 56.20TAOT 2021-B A3 HART 2021-A A3 16.66 195,000.00 DCENT 2021-A1 A1 94.25 24© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 5/15/2023 5/15/2023 5/16/2023 5/16/2023 5/20/2023 5/20/2023 5/21/2023 5/24/2023 5/27/2023 6/1/2023 6/1/2023 6/1/2023 6/1/2023 6/1/2023 6/3/2023 6/4/2023 6/6/2023 5/15/2023 5/15/2023 5/16/2023 5/16/2023 5/20/2023 5/20/2023 5/21/2023 5/24/2023 5/27/2023 6/1/2023 245,000.00 225,000.00 85,000.00 14041NGB1 91324PEC2 362554AC1 36265QAD8 380144AD7 36261RAD0 43815GAC3 459058JM6 3135G06H1 46647PCH7 3137BSP72 3137BTUM1 3137BGK24 3137BNGT5 023135BQ8 3137EAFA2 06051GKE8 COMET 2022-A3 A 4.95% 1.15% 0.68% 4.82% 0.41% 0.33% 0.88% 0.25% 0.25% 0.82% 2.65% 3.34% 3.06% 2.74% 0.80% 0.25% 1.53% 10/15/2027 5/15/2026 9/16/2026 8/16/2027 5/20/2025 2/20/2025 1/21/2026 11/24/2023 11/27/2023 6/1/2025 1,010.63 1,293.75 48.17 UNITEDHEALTH GROUP INC (CALLABLE) CORPOR GMCAR 2021-4 A3 275,000.00 35,000.00 GMCAR 2022-4 A3 1,104.58 11.96GMALT 2021-2 A4 72,974.77 GMALT 2021-1 A4 20.07 100,000.00 500,000.00 325,000.00 315,000.00 550,000.00 380,000.00 250,000.00 275,000.00 475,000.00 300,000.00 225,000.00 HAROT 2021-4 A3 73.33 INTL BK RECON & DEVELOP NOTES FANNIE MAE NOTES 625.00 406.25 1,297.80 1,215.96 1,059.88 637.92 629.06 1,900.00 375.00 1,721.25 JPMORGAN CHASE & CO (CALLABLE) CORP NOTE FHMS K058 A26/25/2023 6/25/2023 6/25/2023 6/25/2023 6/3/2023 8/1/2026 FHMS K061 A2 11/1/2026 12/1/2024 1/1/2026 FHMS K043 A2 FHMS K054 A2 AMAZON INC CORP NOTES (CALLABLE) FREDDIE MAC NOTES 6/3/2025 6/4/2023 12/4/2023 12/6/20256/6/2023 BANK OF AMERICA CORP NOTES (CALLABLE) 25© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 6/9/2023 6/9/2023 250,000.00 500,000.00 239,559.41 245,000.00 80,000.00 210,000.00 48,545.97 320,000.00 50,000.00 170,000.00 242,459.20 140,000.00 245,000.00 130,000.00 195,000.00 78,133.52 85,000.00 63254ABD9 63254ABE7 65480BAC1 14041NGB1 44935FAD6 14318MAD1 44933LAC7 254683CY9 63743HFE7 41285JAD0 89190GAC1 65480JAC4 891940AC2 344928AD8 254683CP8 14314QAC8 362554AC1 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES NATIONAL AUSTRALIA BK/NY CORPORATE NOTES NAROT 2021-A A3 3.50% 3.90% 0.33% 4.95% 0.74% 3.97% 0.38% 4.31% 3.45% 5.05% 0.26% 4.46% 4.63% 4.65% 0.58% 0.52% 0.68% 6/9/2025 4,375.00 9,762.50 65.88 6/9/2023 6/9/2023 6/9/2027 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/16/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/16/2023 10/15/2025 10/15/2027 5/15/2026 4/15/2027 9/15/2025 3/15/2028 6/15/2025 12/15/2027 11/17/2025 5/17/2027 9/15/2027 2/15/2028 9/15/2026 2/17/2026 9/16/2026 COMET 2022-A3 A 1,010.63 49.33HART 2021-C A3 CARMX 2022-3 A3 694.75 15.37HART 2021-A A3 DCENT 2023-A1 A 1,149.33 862.50 715.42 52.53 NATIONAL RURAL UTIL COOP CORPORATE NOTES HDMOT 2023-A A3 TAOT 2021-B A3 NAROT 2022-B A3 520.33 945.29 503.75 94.25 TAOT 2023-A A3 FORDO 2023-A A3 DCENT 2021-A1 A1 CARMX 2021-2 A3 33.86 GMCAR 2021-4 A3 48.17 26© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 6/16/2023 6/20/2023 6/20/2023 6/21/2023 6/27/2023 6/30/2023 6/30/2023 6/30/2023 6/16/2023 6/20/2023 6/20/2023 6/21/2023 6/27/2023 6/30/2023 6/30/2023 6/30/2023 275,000.00 33,967.32 36265QAD8 36261RAD0 380144AD7 43815GAC3 02665WCZ2 912828ZW3 912828YY0 91282CBC4 GMCAR 2022-4 A3 4.82% 0.33% 0.41% 0.88% 2.40% 0.25% 1.75% 0.37% 8/16/2027 2/20/2025 5/20/2025 1/21/2026 6/27/2024 6/30/2025 12/31/2024 12/31/2025 1,104.58 9.34GMALT 2021-1 A4 35,000.00 GMALT 2021-2 A4 11.96 100,000.00 400,000.00 150,000.00 400,000.00 2,825,000.00 37,608,651.53 HAROT 2021-4 A3 73.33 AMERICAN HONDA FINANCE CORP NOTE US TREASURY NOTES US TREASURY NOTES US TREASURY NOTES 4,800.00 187.50 3,500.00 5,296.88 255,471.39Total INTEREST MATURITY 0.00 4/20/2023 4/20/2023 245,000.00 459058JV6 INTL BK OF RECON AND DEV NOTE 0.12%4/20/2023 245,000.00 Total MATURITY PAYDOWNS 245,000.00 245,000.00 0.00 4/15/2023 4/15/2023 4/15/2023 4/15/2023 4/15/2023 18,023.21 5,811.52 18,985.73 4,516.94 65480BAC1 14314QAC8 89190GAC1 44933LAC7 NAROT 2021-A A3 CARMX 2021-2 A3 TAOT 2021-B A3 HART 2021-A A3 0.33% 0.52% 0.26% 0.38% 10/15/2025 2/17/2026 11/17/2025 9/15/2025 18,023.21 5,811.52 18,985.73 4,516.94 4/15/2023 4/15/2023 4/15/2023 27© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon PAYDOWNS 4/20/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/20/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/20/2023 4/20/2023 5/15/2023 5/15/2023 5/15/2023 5/15/2023 5/20/2023 6/15/2023 6/15/2023 6/15/2023 6/15/2023 6/20/2023 12,025.23 4,065.73 36261RAD0 44933LAC7 65480BAC1 89190GAC1 14314QAC8 36261RAD0 44933LAC7 65480BAC1 14314QAC8 89190GAC1 36261RAD0 GMALT 2021-1 A4 HART 2021-A A3 NAROT 2021-A A3 TAOT 2021-B A3 CARMX 2021-2 A3 GMALT 2021-1 A4 HART 2021-A A3 NAROT 2021-A A3 CARMX 2021-2 A3 TAOT 2021-B A3 GMALT 2021-1 A4 0.33% 0.38% 0.33% 0.26% 0.52% 0.33% 0.38% 0.33% 0.52% 0.26% 0.33% 2/20/2025 9/15/2025 10/15/2025 11/17/2025 2/17/2026 2/20/2025 9/15/2025 10/15/2025 2/17/2026 11/17/2025 2/20/2025 12,025.23 4,065.73 15,490.26 16,939.06 5,143.82 15,490.26 16,939.06 5,143.82 39,007.45 4,154.13 39,007.45 4,154.13 17,079.42 5,384.04 17,079.42 5,384.04 17,850.63 33,967.32 218,444.49 17,850.63 33,967.32 218,444.49Total PAYDOWNS SELL 0.00 4/4/2023 4/6/2023 4/11/2023 5/17/2023 4/11/2023 325,000.00 550,000.00 275,000.00 350,000.00 91282CDV0 91282CDV0 91282CDV0 91282CDV0 US TREASURY N/B NOTES US TREASURY N/B NOTES US TREASURY N/B NOTES US TREASURY N/B NOTES 0.87% 0.87% 0.87% 0.87% 1/31/2024 1/31/2024 1/31/2024 1/31/2024 316,015.72 535,045.45 267,267.47 341,317.30 110.24 367.56 -140.10 -766.31 4/12/2023 4/14/2023 5/24/2023 28© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon SELL 5/19/2023 5/23/2023 6/2/2023 5/24/2023 5/25/2023 6/6/2023 400,000.00 50,000.00 91282CDV0 91282CDV0 91282CDV0 91282CDV0 912828ZW3 912828ZW3 912828YY0 91282CDV0 91282CDV0 US TREASURY N/B NOTES US TREASURY N/B NOTES US TREASURY N/B NOTES US TREASURY N/B NOTES US TREASURY NOTES 0.87% 0.87% 0.87% 0.87% 0.25% 0.25% 1.75% 0.87% 0.87% 1/31/2024 1/31/2024 1/31/2024 1/31/2024 6/30/2025 6/30/2025 12/31/2024 1/31/2024 1/31/2024 389,701.92 48,706.14 -1,250.78 -169.19 825,000.00 200,000.00 100,000.00 450,000.00 100,000.00 50,000.00 804,277.25 195,218.10 92,019.51 -3,400.79 -782.266/7/2023 6/14/2023 6/13/2023 6/13/2023 6/15/2023 6/16/2023 6/28/2023 6/8/2023 -7,156.94 -33,415.80 -6,888.66 -191.95 6/8/2023 US TREASURY NOTES 414,087.80 96,333.746/8/2023 US TREASURY NOTES 6/15/2023 6/21/2023 Total SELL US TREASURY N/B NOTES US TREASURY N/B NOTES 48,820.61 350,000.00 4,025,000.00 342,296.99 3,891,108.00 -1,314.99 -54,999.97 29© PFM Asset Management LLC | pfmam.com Portfolio Holdings © PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Holdings Managed Account Detail of Securities Held Security Type/Description Dated Date/Coupon/Maturity S&P Rating Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueCUSIPParRatingDate U.S. Treasury US TREASURY N/B NOTES DTD 01/31/2022 0.875% 01/31/2024 91282CDV0 912828YY0 912828ZW3 91282CBC4 91282CBC4 91282CBC4 91282CBC4 91282CBC4 91282CBC4 91282CBW0 91282CBW0 91282CCP4 91282CCP4 91282CCP4 91282CCP4 2,900,000.00 400,000.00 150,000.00 150,000.00 450,000.00 350,000.00 400,000.00 825,000.00 650,000.00 950,000.00 75,000.00 AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa 1/13/2023 1/17/2023 2,789,437.50 4.68 427,531.25 0.18 147,093.75 0.72 147,052.73 0.82 446,167.97 0.57 344,859.38 0.70 387,968.75 1.13 814,236.33 0.68 632,251.95 1.05 926,843.75 1.33 71,458.01 1.92 819,562.50 3.04 690,468.75 2.74 732,343.75 2.84 819,035.16 2.94 10,584.60 19.02 2,837,571.57 409,405.51 148,628.60 148,355.43 447,823.20 347,183.14 392,599.89 818,757.62 639,313.76 934,797.74 72,615.61 2,825,234.52 380,250.00 136,992.18 135,210.93 405,632.79 315,492.17 360,562.48 743,660.12 585,914.03 855,593.75 67,546.88 US TREASURY NOTES DTD 12/31/2019 1.750% 12/31/2024 8/5/2020 4/1/2021 7/1/2021 8/3/2021 6/2/2021 8/7/2020 4/5/2021 7/7/2021 8/5/2021 6/7/2021 US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025 1.02 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 1.53 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 4.59 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 3.57 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 12/2/2021 12/6/2021 9/1/2021 9/7/2021 4.08 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 8.41 US TREASURY NOTES DTD 12/31/2020 0.375% 12/31/2025 11/2/2021 11/4/2021 1/4/2022 1/6/2022 6.62 US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026 1,200.41 94.77US TREASURY N/B NOTES DTD 04/30/2021 0.750% 04/30/2026 2/10/2022 2/14/2022 8/8/2022 8/15/2022US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 900,000.00 750,000.00 800,000.00 900,000.00 2,346.34 1,955.28 2,085.64 2,346.34 837,363.33 703,993.01 748,665.14 839,863.85 801,843.75 668,203.12 712,750.00 801,843.75 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 8/1/2022 7/5/2022 6/2/2022 8/4/2022 7/8/2022 6/6/2022 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 30© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Holdings Security Type/Description Dated Date/Coupon/Maturity S&P Rating Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueCUSIPParRatingDate U.S. Treasury US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 91282CCP4 91282CCP4 912828U24 912828U24 912828U24 912828U24 91282CEN7 91282CFB2 91282CFB2 91282CFB2 200,000.00 250,000.00 250,000.00 975,000.00 2,100,000.00 9,500,000.00 1,200,000.00 375,000.00 825,000.00 800,000.00 27,125,000.00 AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa 9/1/2022 5/3/2022 9/6/2022 5/5/2022 179,007.81 3.53 226,250.00 3.03 228,144.53 4.39 907,092.77 3.96 1,954,066.41 3.92 8,922,578.13 3.72 1,155,421.88 3.70 362,329.10 3.62 786,779.30 3.97 746,531.25 4.44 25,664,512.71 3.33 521.41 183,400.84 232,724.48 231,693.07 915,575.15 1,974,957.53 8,990,728.78 1,159,686.63 362,795.66 787,409.59 750,421.70 25,916,330.83 178,187.50 222,734.38 231,250.00 901,875.00 1,942,500.00 8,787,500.00 1,133,625.00 353,554.69 777,820.31 754,250.00 25,080,027.35 US TREASURY N/B NOTES DTD 07/31/2021 0.625% 07/31/2026 651.76 638.59US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 11/1/2022 11/4/2022 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 1/4/2023 1/6/2023 2,490.49 5,364.13 24,266.30 5,559.78 4,301.62 9,463.57 9,176.80 83,096.67 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 12/5/2022 12/7/2022 1/13/2023 1/17/2023 1/31/2023 2/3/2023 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 US TREASURY N/B NOTES DTD 04/30/2022 2.750% 04/30/2027 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 5/1/2023 6/2/2023 3/2/2023 5/5/2023 6/6/2023 3/6/2023 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY N/B NOTES DTD 07/31/2022 2.750% 07/31/2027 Security Type Sub-Total Supranational INTL BK RECON & DEVELOP NOTES DTD 11/24/2020 0.250% 11/24/2023 459058JM6 4581X0DZ8 500,000.00 635,000.00 AAA AAA Aaa 11/17/2020 11/24/2020 Aaa 9/15/2021 9/23/2021 498,925.00 0.32 634,530.10 0.52 1,133,455.10 0.43 128.47 864.31 992.78 499,856.67 634,807.07 489,994.50 598,427.18INTER-AMERICAN DEVEL BK NOTES DTD 09/23/2021 0.500% 09/23/2024 Security Type Sub-Total 1,135,000.00 1,134,663.74 1,088,421.68 31© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Holdings Security Type/Description Dated Date/Coupon/Maturity S&P Rating Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueCUSIPParRatingDate Negotiable CD TORONTO DOMINION BANK NY CERT 89115B6K1 DEPOS DTD 10/31/2022 5.600% 10/27/2025 450,000.00 450,000.00 900,000.00 A A1 10/27/2022 10/31/2022 11/2/2022 11/3/2022 450,000.00 5.58 450,000.00 5.53 900,000.00 5.56 17,010.00 4,009.25 21,019.25 450,000.00 450,000.00 900,000.00 449,695.94 446,081.40 895,777.34 NORDEA BANK ABP NEW YORK CERT 65558UYF3 DEPOS DTD 11/03/2022 5.530% 11/03/2025 AA-Aa3 Security Type Sub-Total Municipal CT ST TXBL GO BONDS DTD 06/11/2020 1.998% 07/01/2024 20772KJW0 60,000.00 100,000.00 325,000.00 AA- AA- NR Aa3 Aa1 NR 5/29/2020 6/11/2020 11/6/2019 12/5/2019 12/16/2020 12/23/2020 60,000.00 2.00 100,000.00 2.10 325,000.00 0.87 599.40 875.42 832.54 60,000.00 100,000.00 325,000.00 58,098.00 96,663.00 300,485.25 CHAFFEY UHSD, CA TXBL GO BONDS 157411TK5 DTD 12/05/2019 2.101% 08/01/2024 NY ST URBAN DEV CORP TXBL REV BONDS 650036DT0 DTD 12/23/2020 0.870% 03/15/2025 UNIV OF CAL TXBL REV BONDS DTD 07/16/2020 0.883% 05/15/2025 91412HGE7 341271AD6 85,000.00 AA AA Aa2 Aa3 7/10/2020 7/16/2020 9/3/2020 9/16/2020 85,000.00 0.88 160,000.00 1.26 95.90 85,000.00 79,172.40 FL ST BOARD OF ADMIN TXBL REV BONDS 160,000.00 1,006.40 160,000.00 148,244.80 DTD 09/16/2020 1.258% 07/01/2025 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 341271AD6 341271AD6 54438CYK2 60412AVJ9 65,000.00 85,000.00 140,000.00 AA AA Aa3 Aa3 9/3/2020 9/16/2020 9/3/2020 9/16/2020 65,459.55 1.11 85,563.55 1.12 140,000.00 0.77 408.85 534.65 450.92 65,192.07 85,235.54 140,000.00 60,224.45 78,755.05 128,535.40 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 LOS ANGELES CCD, CA TXBL GO BONDS DTD 11/10/2020 0.773% 08/01/2025 AA+Aaa 10/30/2020 11/10/2020 MN ST TXBL GO BONDS DTD 08/25/2020 0.630% 08/01/2025 100,000.00 130,000.00 AAA NR Aaa 8/11/2020 8/25/2020 100,000.00 0.63 130,000.00 0.85 262.50 461.50 100,000.00 130,000.00 91,710.00 SAN JUAN USD, CA TXBL GO BONDS 798306WP7 DTD 10/29/2020 0.852% 08/01/2025 Aa2 10/16/2020 10/29/2020 119,705.30 32© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Holdings Security Type/Description Dated Date/Coupon/Maturity S&P Rating Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueCUSIPParRatingDate Municipal CA ST UNIV TXBL REV BONDS DTD 07/29/2021 0.862% 11/01/2025 13077DQD7 13063D3N6 85,000.00 200,000.00 AA- AA- Aa2 Aa2 7/9/2021 7/29/2021 3/9/2023 3/15/2023 85,000.00 0.86 200,000.00 4.85 1,536,023.10 1.59 122.12 85,000.00 200,000.00 77,533.60 200,784.00CA ST MUNICIPAL BONDS DTD 03/15/2023 4.846% 03/01/2027 2,853.76 1,535,000.00 8,503.96 1,535,427.61 1,439,911.25Security Type Sub-Total Joint Powers Authority CAMP Pool 99,538.78 AAAm NR 99,538.78 0.00 99,538.78 99,538.78 99,538.78 99,538.78 0.00 99,538.78 99,538.78Security Type Sub-Total Federal Agency FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 3137EAEW5 3137EAEW5 3137EAEY1 3137EAEZ8 3135G06H1 3137EAFA2 3130AJHU6 3135G03U5 3137EAEU9 3135G05X7 225,000.00 525,000.00 325,000.00 350,000.00 325,000.00 300,000.00 350,000.00 350,000.00 425,000.00 350,000.00 AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ Aaa Aaa 9/2/2020 9/2/2020 9/4/2020 9/4/2020 225,041.09 0.24 524,826.75 0.26 323,787.75 0.25 349,685.00 0.28 324,629.50 0.29 299,703.00 0.28 348,264.00 0.60 349,279.00 0.67 422,883.50 0.48 348,362.00 0.47 176.56 411.98 84.64 225,002.58 524,989.12 324,881.54 349,963.21 324,949.68 299,957.69 349,378.50 349,738.72 424,128.57 349,294.15 222,928.20 520,165.80 320,163.35 343,944.30 318,425.58 293,526.60 323,222.55 323,704.15 387,795.08 318,219.65 FREDDIE MAC NOTES DTD 09/04/2020 0.250% 09/08/2023 FREDDIE MAC NOTES DTD 10/16/2020 0.125% 10/16/2023 Aaa 10/14/2020 10/16/2020 Aaa 11/3/2020 11/5/2020FREDDIE MAC NOTES DTD 11/05/2020 0.250% 11/06/2023 133.68 76.74FANNIE MAE NOTES DTD 11/25/2020 0.250% 11/27/2023 Aaa 11/23/2020 11/25/2020 FREDDIE MAC NOTES DTD 12/04/2020 0.250% 12/04/2023 Aaa Aaa Aaa Aaa Aaa 12/2/2020 12/4/2020 4/15/2020 4/16/2020 4/22/2020 4/24/2020 7/21/2020 7/23/2020 8/25/2020 8/27/2020 56.25 FEDERAL HOME LOAN BANK NOTES DTD 04/16/2020 0.500% 04/14/2025 374.31 419.27 708.33 459.38 FANNIE MAE NOTES DTD 04/24/2020 0.625% 04/22/2025 FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025 FANNIE MAE NOTES DTD 08/27/2020 0.375% 08/25/2025 33© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Holdings Security Type/Description Dated Date/Coupon/Maturity S&P Rating Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueCUSIPParRatingDate Federal Agency FEDERAL HOME LOAN BANK NOTES DTD 09/11/2020 0.375% 09/04/2025 3130AK5E2 3137EAEX3 3135G06G3 150,000.00 700,000.00 650,000.00 5,025,000.00 AA+ AA+ AA+ Aaa Aaa Aaa 9/10/2020 9/11/2020 9/23/2020 9/25/2020 11/9/2020 11/12/2020 149,550.00 0.44 697,893.00 0.44 647,673.00 0.57 5,011,577.59 0.41 182.81 149,803.08 699,058.55 648,901.03 5,020,046.42 136,286.70 634,803.40 588,369.60 4,731,554.96 FREDDIE MAC NOTES DTD 09/25/2020 0.375% 09/23/2025 714.58 487.50FANNIE MAE NOTES DTD 11/12/2020 0.500% 11/07/2025 Security Type Sub-Total Corporate 4,286.03 PNC BANK NA CORP NOTES (CALLABLE) DTD 01/23/2019 3.500% 01/23/2024 693475AV7 808513BN4 06406RAS6 400,000.00 105,000.00 210,000.00 A- A- A A3 A2 A1 2/12/2019 2/15/2019 3/16/2021 3/18/2021 4/19/2021 4/26/2021 402,848.00 3.34 104,947.50 0.77 209,775.30 0.54 6,144.44 225.31 189.58 400,281.26 104,987.50 209,938.49 395,134.00 101,266.10 201,586.35 CHARLES SCHWAB CORP NOTES (CALLABLE) DTD 03/18/2021 0.750% 03/18/2024 BANK OF NY MELLON CORP NOTES (CALLABLE) DTD 04/26/2021 0.500% 04/26/2024 MORGAN STANLEY CORP NOTES DTD 04/28/2014 3.875% 04/29/2024 61746BDQ6 02665WCZ2 400,000.00 400,000.00 A- A- A1 A3 7/19/2019 7/23/2019 7/11/2019 7/15/2019 422,916.00 2.59 398,016.00 2.51 2,669.44 106.67 403,985.96 399,602.98 394,123.60 387,818.00AMERICAN HONDA FINANCE CORP NOTE DTD 06/27/2019 2.400% 06/27/2024 GOLDMAN SACHS GROUP INC (CALLABLE) BONDS DTD 07/08/2014 3.850% 07/08/2024 38141EC23 05565EBU8 254687FK7 24422EVU0 400,000.00 70,000.00 400,000.00 100,000.00 BBB+ A A2 A2 A2 A2 7/8/2019 7/11/2019 8/9/2021 8/12/2021 418,632.00 2.84 69,993.70 0.75 398,368.00 1.84 99,935.00 0.65 7,400.56 202.71 403,031.87 69,997.65 399,618.00 99,974.08 392,475.20 66,367.49 383,641.60 94,533.80 BMW US CAPITAL LLC CORPORATE NOTES DTD 08/12/2021 0.750% 08/12/2024 WALT DISNEY COMPANY/THE (CALLABLE) DTD 09/06/2019 1.750% 08/30/2024 A-9/3/2019 9/6/2019 2,352.78 192.71JOHN DEERE CAPITAL CORP CORPORATE NOTES A 9/7/2021 9/10/2021 DTD 09/10/2021 0.625% 09/10/2024 34© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Holdings Security Type/Description Dated Date/Coupon/Maturity S&P Rating Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueCUSIPParRatingDate Corporate PACCAR FINANCIAL CORP CORPORATE NOTES DTD 02/06/2020 1.800% 02/06/2025 69371RQ66 025816CQ0 771196BT8 437076CM2 175,000.00 80,000.00 410,000.00 25,000.00 A+ BBB+ AA A1 A2 10/22/2020 10/29/2020 182,894.25 0.73 79,919.20 2.29 410,000.00 2.13 24,956.25 2.76 1,268.75 585.00 177,963.50 79,954.88 410,000.00 24,974.32 165,232.73 75,661.20 389,790.69 23,930.10 AMERICAN EXPRESS CO CORP NOTES (CALLABLE DTD 03/04/2022 2.250% 03/04/2025 3/1/2022 3/4/2022 ROCHE HOLDINGS INC (CALLABLE) CORPORATE DTD 03/10/2022 2.132% 03/10/2025 Aa2 A2 3/3/2022 3/10/2022 3/24/2022 3/28/2022 2,695.20 142.50HOME DEPOT INC (CALLABLE) CORPORATE NOTE A DTD 03/28/2022 2.700% 04/15/2025 CITIGROUP INC CORP NOTES DTD 04/27/2015 3.300% 04/27/2025 172967JP7 90327QD89 225,000.00 225,000.00 BBB+ AA A3 8/28/2020 9/1/2020 5/23/2022 5/26/2022 249,738.75 0.88 224,264.25 3.49 1,320.00 1,265.63 234,697.47 224,539.73 216,426.60 215,931.83USAA CAPITAL CORP CORPORATE NOTES Aa1 DTD 05/26/2022 3.375% 05/01/2025 CINTAS CORPORATION NO. 2 CORP NOTE (CALL DTD 05/03/2022 3.450% 05/01/2025 17252MAP5 369550BG2 65,000.00 225,000.00 315,000.00 475,000.00 250,000.00 50,000.00 A- A- A3 A3 4/26/2022 5/3/2022 10/16/2020 10/20/2020 5/24/2021 6/1/2021 64,985.70 3.46 252,247.50 0.80 315,000.00 0.82 474,767.25 0.81 250,000.00 3.50 49,986.50 3.46 373.75 1,006.25 216.30 295.56 534.72 76.67 64,991.24 235,563.28 315,000.00 474,910.29 250,000.00 49,991.52 62,752.17 218,419.43 299,329.38 438,335.70 241,470.75 48,106.25 GENERAL DYNAMICS CORP (CALLABLE) CORP NO DTD 05/11/2018 3.500% 05/15/2025 JPMORGAN CHASE & CO (CALLABLE) 46647PCH7 CORP NOTE DTD 06/01/2021 0.824% 06/01/2025 A-A1 AMAZON INC CORP NOTES (CALLABLE) DTD 06/03/2020 0.800% 06/03/2025 023135BQ8 63254ABD9 63743HFE7 AA AA- A- A1 6/3/2020 6/5/2020 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES DTD 06/09/2022 3.500% 06/09/2025 Aa3 A2 5/31/2022 6/9/2022 4/27/2022 5/4/2022NATIONAL RURAL UTIL COOP CORPORATE NOTES DTD 05/04/2022 3.450% 06/15/2025 35© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Holdings Security Type/Description Dated Date/Coupon/Maturity S&P Rating Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueCUSIPParRatingDate Corporate IBM CORP CORPORATE NOTES DTD 07/27/2022 4.000% 07/27/2025 459200KS9 06051GFS3 002824BM1 225,000.00 225,000.00 225,000.00 A- A- A3 A1 7/20/2022 7/27/2022 8/18/2020 8/20/2020 9/24/2020 9/28/2020 225,000.00 4.00 256,918.50 0.93 257,845.50 0.86 3,850.00 3,632.81 2,567.19 225,000.00 238,459.82 238,645.86 219,920.40 218,097.68 219,933.90 BANK OF AMERICA CORP NOTES DTD 07/30/2015 3.875% 08/01/2025 ABBOTT LABORATORIES AA-Aa3 CORPORATE NOTES (CAL DTD 03/22/2017 3.875% 09/15/2025 BANK OF AMERICA CORP NOTES (CALLABLE) DTD 12/06/2021 1.530% 12/06/2025 06051GKE8 46647PCV6 91324PEC2 05565EBW4 14913R2U0 87612EBM7 06406RBA4 594918BY9 025816CS6 225,000.00 175,000.00 225,000.00 175,000.00 225,000.00 40,000.00 A- A- A1 A1 A3 A2 A2 A2 A1 Aaa A2 12/1/2021 12/6/2021 2/16/2022 2/24/2022 5/17/2021 5/19/2021 8/12/2021 8/16/2021 1/11/2022 1/13/2022 1/19/2022 1/24/2022 1/26/2022 1/28/2022 3/14/2023 3/17/2023 1/13/2023 1/18/2023 225,000.00 1.53 175,000.00 2.60 224,608.50 1.19 174,947.50 1.26 223,863.75 1.81 39,932.00 1.99 473,945.50 2.10 721,942.50 4.36 277,203.00 4.59 239.06 1,602.05 330.63 225,000.00 175,000.00 224,774.60 174,967.21 224,196.95 39,951.57 210,101.40 165,923.63 203,450.63 155,711.68 203,145.08 36,601.04 JPMORGAN CHASE & CO CORP NOTES (CALLABLE DTD 02/24/2022 2.595% 02/24/2026 UNITEDHEALTH GROUP INC (CALLABLE) CORPOR DTD 05/19/2021 1.150% 05/15/2026 A+ ABMW US CAPITAL LLC (CALLABLE) CORPORATE DTD 08/12/2021 1.250% 08/12/2026 844.62 CATERPILLAR FINL SERVICE CORPORATE NOTES DTD 01/10/2022 1.700% 01/08/2027 A 1,838.13 359.67TARGET CORP CORP NOTES (CALLABLE) DTD 01/24/2022 1.950% 01/15/2027 A BANK OF NY MELLON CORP (CALLABLE) CORPOR DTD 01/26/2022 2.050% 01/26/2027 475,000.00 750,000.00 300,000.00 A 4,192.53 9,968.75 2,486.25 474,245.55 724,033.99 279,685.54 426,917.65 721,335.00 273,174.90 MICROSOFT CORP CORP NOTES (CALLABLE) DTD 02/06/2017 3.300% 02/06/2027 AAA BBB+AMERICAN EXPRESS CO CORP NOTES (CALLABLE DTD 03/04/2022 2.550% 03/04/2027 36© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Holdings Security Type/Description Dated Date/Coupon/Maturity S&P Rating Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueCUSIPParRatingDate Corporate BERKSHIRE HATHAWAY CORP NOTES 084664CZ2 (CALLABLE) DTD 03/15/2022 2.300% 03/15/2027 475,000.00 300,000.00 500,000.00 AA A- Aa2 A2 3/15/2022 3/17/2022 2/17/2023 2/22/2023 1/13/2023 1/18/2023 466,089.00 2.70 284,925.00 4.66 488,325.00 4.50 3,216.81 2,475.00 1,193.19 468,390.03 286,222.31 489,519.45 443,520.33 276,275.70 477,470.50 CHARLES SCHWAB CORP NOTES (CALLABLE) DTD 09/24/2021 3.300% 04/01/2027 808513BW4 63254ABE7NATIONAL AUSTRALIA BK/NY CORPORATE NOTES AA-Aa3 DTD 06/09/2022 3.905% 06/09/2027 APPLE INC (CALLABLE) BONDS DTD 09/12/2017 2.900% 09/12/2027 037833DB3 89236TKQ7 775,000.00 375,000.00 AA+ A+ Aaa A1 1/19/2023 1/23/2023 2/8/2023 2/10/2023 741,062.75 3.94 376,282.50 4.55 6,804.93 8,141.93 744,250.01 376,181.87 727,032.15 371,703.00TOYOTA MOTOR CREDIT CORP CORPORATE NOTES DTD 01/12/2023 4.625% 01/12/2028 NATIONAL RURAL UTIL COOP CORP NOTES (CAL DTD 02/07/2018 3.400% 02/07/2028 637432NP6 882508BV5 110122DE5 539830BZ1 350,000.00 85,000.00 A- A+ A+ A- A1 Aa3 A2 2/17/2023 2/22/2023 5/11/2023 5/18/2023 3/9/2023 3/13/2023 5/23/2023 5/25/2023 329,189.00 4.76 87,043.40 4.04 4,760.00 1,477.11 5,321.88 267.00 330,671.40 86,990.61 325,441.20 85,101.41TEXAS INSTRUMENTS INC CORP NOTE (CALLABL DTD 11/18/2022 4.600% 02/15/2028 BRISTOL-MYERS SQUIBB CO CORP NOTES (CALL DTD 07/15/2020 3.900% 02/20/2028 375,000.00 60,000.00 358,263.75 4.93 59,892.00 4.49 359,283.69 59,894.20 364,047.75 59,106.90LOCKHEED MARTIN CORP NOTES (CALLABLE) A3 DTD 05/25/2023 4.450% 05/15/2028 Security Type Sub-Total Agency CMBS 11,565,000.00 11,571,470.30 2.81 94,834.07 11,479,368.68 10,996,344.90 FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024 3137BGK24 3137BNGT5 250,000.00 275,000.00 AA+ AA+ Aaa Aaa 3/19/2020 3/25/2020 4/11/2023 4/14/2023 262,382.81 1.95 263,613.28 4.37 637.92 629.06 253,753.90 264,507.71 241,662.97 260,239.61FHMS K054 A2 DTD 04/20/2016 2.745% 01/01/2026 37© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Holdings Security Type/Description Dated Date/Coupon/Maturity S&P Rating Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueCUSIPParRatingDate Agency CMBS FHMS K058 A2 DTD 11/09/2016 2.653% 08/01/2026 3137BSP72 3137BTUM1 550,000.00 380,000.00 550,000.00 2,005,000.00 AA+ AA+ AA+ Aaa Aaa Aaa 4/6/2023 4/12/2023 5/19/2023 5/24/2023 6/8/2023 6/13/2023 526,839.84 4.02 368,303.13 4.31 527,033.20 4.44 1,948,172.26 3.97 1,215.96 1,059.88 1,486.38 5,029.20 528,374.90 368,656.73 527,331.04 1,942,624.28 515,094.55 362,853.07 521,390.78 1,901,240.98 FHMS K061 A2 DTD 01/30/2017 3.347% 11/01/2026 FHLMC MULTIFAMILY STRUCTURED P 3137F1G44 DTD 07/01/2017 3.243% 04/01/2027 Security Type Sub-Total ABS GMALT 2021-2 A4 DTD 05/26/2021 0.410% 05/20/2025 380144AD7 44933LAC7 65480BAC1 89190GAC1 43815GAC3 14314QAC8 44935FAD6 254683CP8 362554AC1 14318MAD1 65480JAC4 36265QAD8 35,000.00 44,391.84 222,479.99 224,608.57 100,000.00 72,749.48 80,000.00 195,000.00 85,000.00 210,000.00 140,000.00 275,000.00 AAA AAA AAA AAA NR NR NR Aaa NR 5/18/2021 5/26/2021 4/20/2021 4/28/2021 6/15/2021 6/23/2021 6/8/2021 6/14/2021 34,997.05 0.41 44,387.18 0.38 222,476.22 0.33 224,584.37 0.26 99,978.92 0.89 72,733.80 0.52 79,982.14 0.75 194,958.25 0.58 84,997.83 0.68 209,995.04 3.97 139,971.03 4.46 274,954.93 4.82 4.38 7.50 34,998.60 44,389.49 222,477.99 224,595.55 99,987.02 72,740.92 79,988.58 194,973.03 84,998.58 209,996.03 139,975.76 274,961.61 34,645.31 43,257.25 216,074.21 217,617.52 96,140.85 70,191.00 76,892.86 183,495.96 81,344.85 204,998.41 137,464.18 271,448.32 HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 32.63 25.95 24.44 16.81 26.31 50.27 24.08 370.53 277.51 552.29 TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026 Aaa 11/16/2021 11/24/2021 CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 AAA AAA AAA AAA AAA AAA AAA NR NR 4/13/2021 4/21/2021 11/9/2021 11/17/2021 9/20/2021 9/27/2021 HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026 Aaa GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 Aaa 10/13/2021 10/21/2021 CARMX 2022-3 A3 DTD 07/20/2022 3.970% 04/15/2027 NR Aaa NR 7/12/2022 7/20/2022 9/20/2022 9/28/2022 10/4/2022 10/12/2022 NAROT 2022-B A3 DTD 09/28/2022 4.460% 05/17/2027 GMCAR 2022-4 A3 DTD 10/12/2022 4.820% 08/16/2027 38© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Portfolio Holdings Security Type/Description Dated Date/Coupon/Maturity S&P Rating Moody's Trade Settle Date Original Cost YTM at Cost Accrued Interest Amortized Cost Market ValueCUSIPParRatingDate ABS TAOT 2023-A A3 DTD 01/30/2023 4.630% 09/15/2027 891940AC2 14041NGB1 41285JAD0 344928AD8 254683CY9 14041NGD7 02582JJZ4 05522RDG0 254683CZ6 245,000.00 245,000.00 170,000.00 130,000.00 320,000.00 490,000.00 190,000.00 170,000.00 350,000.00 3,994,229.88 AAA AAA NR NR NR Aaa NR Aaa NR NR NR Aaa 1/24/2023 1/30/2023 10/27/2022 11/3/2022 2/13/2023 2/23/2023 3/28/2023 3/31/2023 4/4/2023 4/11/2023 5/17/2023 5/24/2023 6/7/2023 6/14/2023 6/8/2023 6/16/2023 6/21/2023 6/28/2023 244,999.88 4.63 244,961.56 4.95 169,982.88 5.05 129,986.44 4.65 319,981.44 4.31 489,887.64 4.43 189,983.15 4.87 169,961.51 4.79 349,952.72 4.93 3,993,713.98 3.56 504.16 244,999.89 244,966.67 169,984.13 129,987.14 319,982.28 489,889.99 189,983.31 169,961.83 349,952.80 3,993,791.20 242,135.61 243,184.53 168,592.93 128,407.21 312,857.70 481,276.63 188,896.25 168,648.35 348,590.17 3,916,160.10 COMET 2022-A3 A DTD 11/03/2022 4.950% 10/15/2027 539.00 381.56 268.67 612.98 2,225.96 436.94 339.29 143.79 6,865.05 HDMOT 2023-A A3 DTD 02/23/2023 5.050% 12/15/2027 FORDO 2023-A A3 DTD 03/31/2023 4.650% 02/15/2028 AAA NRDCENT 2023-A1 A DTD 04/11/2023 4.310% 03/15/2028 COMET 2023-A1 A DTD 05/24/2023 4.420% 05/15/2028 AAA AAA AAA AAA AMXCA 2023-1 A DTD 06/14/2023 4.870% 05/15/2028 BACCT 2023-A1 A1 DTD 06/16/2023 4.790% 05/15/2028 DCENT 2023-A2 A DTD 06/28/2023 4.930% 06/15/2028 Security Type Sub-Total Managed Account Sub Total Securities Sub Total Accrued Interest 53,284,229.88 $53,383,768.66 51,758,925.04 2.91 224,627.01 51,922,252.76 $52,021,791.54 50,049,438.56 $50,148,977.34 $224,627.01 $51,858,463.82 2.91%$224,627.01 Total Investments $50,373,604.35 39© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Appendix Important Disclosures This 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 to any 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 Exchange Commission 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. Bank is 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. The information 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 sources external to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements. While efforts are 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 are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics are gathered 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 of the 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 sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to be lower 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 as of 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 actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and data presented 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.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Appendix Important Disclosures This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or 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 other information 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 information Statement 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 to maintain 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 is possible 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 other government agency. Shares of the Trust are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) and Securities 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, or Telerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimated market value. In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and forward settling sales are excluded. Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns. Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets. Money market fund/cash balances are included in performance and duration computations. Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings. Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity. MBS maturities are represented by expected average life. 41© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Appendix Glossary Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made. Agencies: Federal agency securities and/or Government-sponsored enterprises. Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis. 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 added or 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 compounding on investment returns, while nominal yield does not. FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount. Interest Rate: Interest per year divided by principal amount and expressed as a percentage. Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date. Maturity: The date upon which the principal or stated value of an investment becomes due and payable. Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets. Par Value: The nominal dollar face amount of a security. Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the mortgage-backed security. 42© PFM Asset Management LLC | pfmam.com For the Quarter Ended June 30, 2023 CITY OF LAKE ELSINORE Appendix Glossary Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments and maturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day. Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whose decisions 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 a percentage on an annualized basis. YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time period from purchase date to maturity, stated as a percentage on an annualized basis. YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis. 43© PFM Asset Management LLC | pfmam.com