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Item No. 05 - CC Investment Report for May 2024
5)CC Investment Report for May 2024 Receive and file the Investment Report for May 2024. Page 1 of 1 REPORT TO CITY COUNCIL To:Honorable Mayor and Members of the City Council From:Jason Simpson, City Manager Prepared by:Shannon Buckley, Assistant City Manager Date:June 25, 2024 Subject:CC Investment Report for May 2024 Recommendation Receive and file the Investment Report for May 2024. Discussion The Investment Report lists all funds invested for the City as the date shown on the report. The Review of the Investment Performance for the quarter ended March 31, 2024, is included. Fiscal Impact No fiscal impact. Attachments Attachment 1- Investment Report for May 2024 Administrative Services 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 MAY 31, 2024 BANK DEPOSITS IN TRANSIT OUTSTANDING PAYMENTS BOOK CASH ACCOUNTS Bank Accounts: BALANCE BALANCE General Checking Account $3,280,556 $54,674 $(36,168)$3,299,062 Cash On Hand: Cashier Drawers #1 & #2 City of Lake Elsinore Petty Cash Fund - - - - - - 300 2,000 Total Cash Accounts 3,280,556 54,674 (36,168)3,301,362 INVESTMENTS Local Agency Investment Funds 80,146,410 --80,146,410 CAMP Investments: CAMP Pool Account 312,890 22,427,229 - 1,536,023 7,268,584 2,266,362 12,318,206 900,000 - - - - - - - - - - - - - - - - - - 312,890 22,427,229 - 1,536,023 7,268,584 2,266,362 12,318,206 900,000 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 5,651,825 5,651,825 Sub-total Investments 132,827,528 --132,827,528 Market Value Adjustment: Unrealized Gain/(Loss) at 4/30/2024 (921,476)--(921,476) Total Investments 131,906,052 135,186,608 --131,906,052 135,207,414Total Pooled Cash and Investments $$54,674 $(36,168)$ $TOTAL POOLED CASH AND INVESTMENTS 135,207,414 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 June 10, 2024 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 MAY 31, 2024 FUND NO FUND NAME General AMOUNT 100 101 102 106 107 108 109 110 111 112 114 115 116 117 118 119 121 135 140 160 202 203 205 211 221 231 232 300 305 310 315 320 331 332 333 334 335 336 337 338 339 340 345 346 347 350 351 354 355 357 359 $11,467,393 61,904Supplemental Law Enforcement Measure Z 21,353,122 1,097,505 445,134 5,412,593 1,621,159 731,419 63,146 Affordable Housing In Lieu Developer Agreement Revenue American Rescue Plan Road Maintenance and Rehabilitation (SB1) State Gas Tax TUMF C.I.P. Measure A 666,160 67,120SB1186 CASP Education Program Traffic Safety 14,788 City Hall-Public Works DIF Community Center DIF 228,079 369,823 555,388 129,212 520 Lake Side Facility DIF Animal Shelter DIF T.R.I.P.-2014A Lighting & Landscape Maintenance - Dist. No. 1 Geothermal 1,732,070 12,172 PEG Grant 1,922 La Strada RBBD 24,824 E.L.S.P. - S.T.I.F.3,500,625 541,551 3,343,765 85,312 Traffic Impact Fee Storm Drain C.I.P. Quimby Park C.I.P. Library C.I.P.1,088,401 909,997 1,060,204 3,288,138 42,781 City Fire Protection Insurance Service Information Systems Service Support Service Fleet Service 313,451 2,437,097 147,548 117,929 407 Facilities Service CFD 2006-1CC Summerly Improvement Area CC CFD 2006-1 Improvement Area B, Summerly CFD 2015-3 Terracina 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 117,679 140,116 140,079 865,015 231,700 178,533 202,143 1,572,185 70,752 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 CFD 2006-1 Improvement Area A, Summerly CFD 98-1 Summerhill 185,608 936,076 235,053 1,040,728 897,038 581,424 343 CFD 2006-1 IA-II Summerly Improvement CFD 90-2 Tuscany Hills RAD 2021-1 Canyon Hills Improvement CFD 2003-2 Canyon Hills Improvement Area CFD 2021-1 IA-2 Tuscany Valley & Crest 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 MAY 31, 2024 FUND NO FUND NAME AMOUNT 14,286361 362 363 364 366 368 369 370 371 372 374 375 376 377 378 379 384 385 386 387 388 389 390 392 394 395 396 397 500 603 604 605 606 608 617 620 631 650 651 652 653 655 CFD 2022-2 Lakeshore Improvement CFD 2006-8S Running Deer Estates Services CFD 2022-3 Lakeside 29,902 4,130 CFD 2023-2 Coastal Mission Trail Improvement CFD 2005-6 City Center Townhomes CFD 2006-2 Viscaya 8,504 217,991 452,031 1,419,732 218,024 535,291 1,278,942 7,450 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 257,354 279CFD 2006-3 La Strada CFD 2006-6 Tessara 97,804 CFD 2006-8 Running Deer Estates CFD 2022-1 Alberhill 109,092 328 CFD 2003-2 Area B Canyon Hills Improvement Area CFD 2004-3 Area 2 Rosetta Canyon Improvement Area CFD 2007-4 Mekenna Court 1,587,369 1,470,529 122,802 96,008CFD 2007-5 Red Kite CFD 2007-6 Holiday Inn Express CFD 88-3 (2008A) West Lake Elsinore Series A CFD 2003-2 Area C Canyon Hills Improvement Area CFD 95-1 City Center 6,002 1,092 557,250 127,397 239,473 5,535 CFD 2005-5 (2012A) Wasson Canyon CFD 2018-1 Wasson Canyon II Improvement Area CFD 2018-2 Nichols Ranch Improvement Area CFD 2018-3 Village at Lakeshore Capital Improvement Plan 196,880 234,287 6,826,548 63,232Endowment Trust - Carl Graves Endowment Trust - Korn Memorial Public Improvement Trust 34,976 1,781,152 97,628Mobile Source Air Polution Reduction Trust Deposit & Pre Paid Expense Successor Agency Housing 1,550,171 34,634,195 7,595,297 468,315 1,670,926 55,735 Cost Recovery System Lake Destratification Equipment Replacement CFD 2003-1 Law & Fire Service CFD 2006-5 Park & Open Space Service CFD 2007-1 Law & Fire Service 54,989 CFD 2009-1 Parks & Lighting Service CFD 2015-1s Law, Fire, Paramedic Services 377,556 373,802 Total Pooled Cash & Investments $135,207,414 C I T Y O F L A K E E L S I N O R E SUMMARY OF POLICY LIMITATIONS FOR THE MONTH ENDING MAY 31, 2024 MAXIMUM PERCENTAGE DIVERSIFICATION PERCENTAGE CURRENT BALANCETYPES OF SECURITIES CAMP - Pooled Sweep Account U.S. Treasury Bond / Note Unlimited Unlimited 30% 0.24%$ $ $ $ $ 312,890 16.88% 0.00% 22,427,229 -Supra-National Agency Bond / Note Municipal Bond / Note Unlimited 40% 1.16%1,536,023 7,268,584Federal Agency Collaterized Mortgage Obligation 5.47% (1)Federal Agency Bond / Note Corporate Note Unlimited 30% 1.71% 9.27% 0.68% 4.26% $ $ $ $ 2,266,362 12,318,206 900,000Negotiable Certificates of Deposit Asset-Backed Security / Collaterized Mortgage 30% 20%5,651,825 (2)LAIF (Local Agency Investment Funds) TOTAL $150 Million 60.34%$ $ 80,146,410 100.00%132,827,528 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 6/05/24 PMIA Average Monthly Effective Yields(1) Quarterly Performance Quarter Ended 03/31/24 (2)4.30LAIF Apportionment Rate :May April March 4.332 4.272 4.232 4.122 4.012 3.929 (2)0.00011755619077389 0.27 0.994191267 4.22 4.12 LAIF Earnings Ratio : (1)*LAIF Administrative Cost : (1)LAIF Fair Value Factor :February January December (1)PMIA Daily : (1)PMIA Quarter to Date : (1)226PMIA Average Life : Pooled Money Investment Account Monthly Portfolio Composition (1) 4/30/24 $171.5 billion Corporate Bonds 0.41% Commercial PaperTime Deposits 2.99% Loans 0.20% 6.54% Certificates of Deposit/Bank Notes 8.84% Treasuries 58.43% Agencies 22.59% Chart does not include $1,969,000.00 in mortgages, which equates to 0.001%. 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. 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 MAY 31, 2024 Yield Purchase Date Maturity Rate 24-Hour4.332%Daily Investment Beginning Balance Net Increase/(Decrease)Ending Balance 80,146,410 Total Investments Held with Local Agency Investment Fund:$71,646,410 $8,500,000 $ 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 May 31, 2024 CAMP Pool Asset Summary Opening Market Value Purchases Redemptions Unsettled Trades Change in Value 276,870.70 2,441,662.77 (2,405,643.24) 0.00 May 31, 2024 April 30, 2024 CAMP Pool 312,890.23 276,870.70 CAMP Managed Account 51,723,392.89 51,212,407.54 0.00 Total $52,036,283.12 $51,489,278.24Closing Market Value Cash Dividends and Income CAMP Managed Account $312,890.23 Asset Allocation886.23 CAMP Pool 0.60%Opening Market Value Purchases Redemptions Unsettled Trades Change in Value 51,212,407.54 2,477,889.63 (2,284,141.28) 0.00 317,237.00 Closing Market Value $51,723,392.89 Cash Dividends and Income 223,019.92 CAMP Managed Account 99.40% Page 1 Managed Account Summary Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 Transaction Summary - Money Market Opening Market Value Transaction Summary - Managed Account Account Total $276,870.70 Opening Market Value $51,212,407.54 Opening Market Value $51,489,278.24 Purchases Redemptions 2,441,662.77 (2,405,643.24) Maturities/Calls (52,886.42) (2,231,254.86) 2,477,889.63 0.00 Principal Dispositions Principal Acquisitions Unsettled Trades Change in Current Value 317,237.00__________________________________________________________________________________________________________________________________________________ Closing Market Value $312,890.23 Closing Market Value $51,723,392.89 Closing Market Value $52,036,283.12 Dividend 886.23 Earnings Reconciliation (Cash Basis) - Managed Account Cash Balance Interest/Dividends/Coupons Received Less Purchased Interest Related to Interest/Coupons Plus Net Realized Gains/Losses 250,853.42 (17,842.39) (9,991.11) Closing Cash Balance $0.00 Total Cash Basis Earnings $223,019.92 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 52,688,139.35 261,969.47 2,140,629.49 153,054.42 246,979.79 (2,495,900.02) (52,565,464.87) (353,696.78) 0.00 53,001,029.58 261,969.47 4,546,272.73 153,054.42 246,979.79 Maturities/Calls Sale Proceeds Coupon/Interest/Dividend Income Principal Payments Security Purchases 0.00 2,140,629.49 246,979.79 52,886.42 (2,401,233.02) (39,262.68) 0.00 (4,937,562.79) Net Cash Contribution (52,842,335.57) Reconciling Transactions (353,696.78) 886.23 Total Accrual Basis Earnings $75,710.85 $76,597.08 Page 2 Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 Account Summary Sector Allocation Description Par Value Market Value Percent ABS 10.79% Cert of Deposit 1.73% Corporate Note 23.07% U.S. Treasury 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 23,500,000.00 1,535,000.00 7,399,748.80 22,346,848.36 1,482,403.35 7,229,881.87 42.95 2.85 13.89 US TSY Bond / Note 42.95% 2,275,000.00 12,360,000.00 900,000.00 5,652,638.78 53,622,387.58 2,141,740.85 12,005,540.77 901,633.58 5,615,344.11 51,723,392.89 99.40% 261,969.47 51,985,362.36 312,890.23 52,298,252.59 100.00% 4.12 23.07 1.73 10.79 Fed Agy Bond / Note 4.12% Federal Agency Commercial Mortgage-Backed Security Total Portfolio CAMP Pool Total Investments 53,622,387.58 312,890.23 53,935,277.81 Muni Bond / Note 2.85%0.60 Joint Powers Authority 0.60% 13.89% Unsettled Trades 0.00 0.00 Maturity Distribution Characteristics Yield to Maturity at Cost 3.85% 4.87% 1062 35.42% Yield to Maturity at Market Weighted Average Days to Maturity27.76% 18.66% 12.17% 3.58%2.41% 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 May 31, 2024 Issuer Summary Credit Quality (S&P Ratings) Market Value of Holdings 221,233.73 374,324.63 335,156.70 454,025.90 1,454,019.75 729,633.05 788,605.02 444,082.73 768,231.93 230,024.76 361,947.38 79,998.60 312,890.23 725,356.45 224,342.52 207,038.93 99,582.00 285,198.60 404,067.97 63,827.27 418,133.10 766,550.25 374,460.38 854,383.09 1,472,902.89 141,365.85 349,752.73 296,322.80 128,685.02 7,757,353.98 221,198.40 314,038.78 Issuer ABBOTT LABORATORIES ADOBE INC AIR PRODUCTS & CHEMICALS AMAZON.COM INC AMERICAN EXPRESS CO APPLE INC BANK OF AMERICA CO BERKSHIRE HATHAWAY INC BLACKROCK 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 Percent 0.43 0.72 0.64 0.87 2.79 1.40 1.52 0.85 1.48 0.44 0.70 0.15 0.60 1.39 0.43 0.40 0.19 0.55 0.78 0.12 0.80 1.47 0.72 1.64 2.83 0.27 0.67 0.57 0.25 14.92 0.43 0.60 A NR 2.36% BBB+ 1.45% AAAm 0.60% AAA 10.84% AA- 5.82% 4.73% A+ 3.80% A- 4.14% AA 3.65% AA+ 62.61% CHASE ISSURANCE CINTAS CORPORATION NO. 2 CISCO SYSTEMS INC CITIGROUP INC DEERE & COMPANY DISCOVER FINANCIAL SERVICES FANNIE MAE FEDERAL HOME LOAN BANKS FIFTH THIRD AUTO TRUST FLORIDA STATE BOARD OF ADMIN FIN CORP FORD CREDIT AUTO OWNER TRUST FREDDIE MAC GENERAL DYNAMICS CORP GM FINANCIAL CONSUMER AUTOMOBILE TRUST Page 4 Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 Market Value of Holdings 398,999.20 168,995.62 24,429.28 Issuer Percent 0.77 0.32 0.05 0.86 0.07 0.43 0.93 0.11 0.26 1.39 1.40 0.73 0.60 0.40 0.87 0.33 0.77 0.24 0.38 0.11 0.18 0.07 0.16 0.85 0.87 1.30 42.95 0.40 0.16 0.42 GOLDMAN SACHS GROUP INC HARLEY-DAVIDSON MOTORCYCLE TRUST HOME DEPOT INC HONDA AUTO RECEIVABLES HYUNDAI AUTO RECEIVABLES IBM CORP 449,106.35 38,955.07 221,285.25 486,043.54 58,985.22 132,788.60 722,223.75 728,871.00 379,153.30 314,210.00 206,400.43 450,740.25 170,687.65 399,812.32 123,606.60 199,686.00 59,817.60 JP MORGAN CHASE & CO LOCKHEED MARTIN CORP LOS ANGELES COMMUNITY COLLEGE DISTRICT MICROSOFT CORP 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 ROCHE HOLDINGS INC SAN JUAN UNIFIED SCHOOL DISTRICT STATE OF CALIFORNIA STATE OF CONNECTICUT STATE OF MINNESOTA TARGET CORP 94,912.70 37,199.28 84,177.20TEXAS INSTRUMENTS INC THE BANK OF NEW YORK MELLON CORPORATION TORONTO-DOMINION BANK TOYOTA MOTOR CORP UNITED STATES TREASURY UNITEDHEALTH GROUP INC UNIVERSITY OF CALIFORNIA USAA CAPITAL CORP 439,859.03 450,893.33 677,701.39 22,346,848.36 208,615.50 81,478.45 221,065.43 Total $52,036,283.12 100.00% Page 5 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 NOTES DTD 12/31/2019 1.750% 12/31/2024 912828YY0 912828ZW3 912828U24 912828U24 912828U24 912828U24 91282CEN7 91282CFB2 91282CFB2 91282CFB2 91282CFB2 91282CFZ9 91282CFZ9 91282CGP0 50,000.00 AA+ 50,000.00 AA+ Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa 08/05/20 04/01/21 11/01/22 01/04/23 12/05/22 01/13/23 01/31/23 05/01/23 03/02/23 07/03/23 06/02/23 01/02/24 12/01/23 04/03/24 08/07/20 04/05/21 11/04/22 01/06/23 12/07/22 01/17/23 02/03/23 05/05/23 03/06/23 07/07/23 06/06/23 01/05/24 12/05/23 04/05/24 53,441.41 0.18 49,031.25 0.72 367.79 52.54 50,456.14 49,753.27 48,992.19 47,468.75US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 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+ 400,000.00 AA+ 600,000.00 AA+ 825,000.00 AA+ 1,175,000.00 AA+ 1,200,000.00 AA+ 400,000.00 AA+ 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 3.62 373,265.62 4.44 565,640.63 4.30 786,779.30 3.97 1,170,501.95 3.98 1,184,109.38 4.24 393,640.63 4.45 230.98 236,681.82 931,768.78 2,009,032.36 9,129,508.29 1,169,368.75 365,545.94 380,797.13 573,276.05 795,880.67 1,170,969.12 1,186,062.97 393,895.00 234,179.70 913,300.83 1,967,109.48 8,898,828.60 1,137,562.56 354,257.81 377,875.00 566,812.50 779,367.19 1,147,093.75 1,171,500.00 391,875.00 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 900.81 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 1,940.22 8,777.17 2,869.57 3,456.39 3,686.81 5,530.22 7,604.05 124.40 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 US TREASURY NOTES DTD 04/30/2022 2.750% 04/30/2027 US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY NOTES DTD 11/30/2022 3.875% 11/30/2027 US TREASURY NOTES DTD 11/30/2022 3.875% 11/30/2027 127.05 US TREASURY NOTES 4,043.48 DTD 02/28/2023 4.000% 02/29/2028 Page 6 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 NOTES DTD 02/28/2023 4.000% 02/29/2028 91282CGP0 91282CGP0 91282CGP0 600,000.00 AA+ 1,350,000.00 AA+ 2,450,000.00 AA+ Aaa Aaa Aaa 02/02/24 03/01/24 05/01/24 02/06/24 03/06/24 05/06/24 602,507.81 3.89 1,335,287.11 4.30 2,383,390.63 4.79 6,065.22 13,646.74 24,766.30 602,311.78 1,336,166.85 2,384,632.99 587,812.50 1,322,578.13 2,400,234.37 US TREASURY NOTES DTD 02/28/2023 4.000% 02/29/2028 US TREASURY NOTES DTD 02/28/2023 4.000% 02/29/2028 Security Type Sub-Total Municipal Bond / Note 23,500,000.00 22,427,228.54 3.98 84,189.74 22,766,107.91 22,346,848.36 CT ST TXBL GO BONDS DTD 06/11/2020 1.998% 07/01/2024 20772KJW0 157411TK5 650036DT0 91412HGE7 341271AD6 341271AD6 341271AD6 60412AK85 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 Aa3 Aa1 NR 05/29/20 11/06/19 12/16/20 07/10/20 09/03/20 09/03/20 09/03/20 05/07/24 06/11/20 12/05/19 12/23/20 07/16/20 09/16/20 09/16/20 09/16/20 05/07/24 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 5.30 499.50 700.33 596.92 33.36 60,000.00 100,000.00 325,000.00 85,000.00 65,103.79 85,127.27 160,000.00 100,000.00 59,817.60 99,582.00 314,210.00 81,478.45 62,132.20 81,249.80 152,940.80 94,912.70 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 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 340.71 445.54 838.67 210.00 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 MINNESOTA ST-F-UNREF MUNICIPAL 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 798306WP7 130,000.00 NR Aa2 10/16/20 10/29/20 130,000.00 0.85 369.20 130,000.00 123,606.60 Page 7 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 LOS ANGELES CCD, CA TXBL GO BONDS DTD 11/10/2020 0.773% 08/01/2025 54438CYK2 13077DQD7 13063D3N6 140,000.00 AA+ 85,000.00 AA- 200,000.00 AA- Aaa Aa2 Aa2 10/30/20 07/09/21 03/09/23 11/10/20 07/29/21 03/15/23 140,000.00 0.77 85,000.00 0.86 200,000.00 4.85 360.73 61.06 140,000.00 85,000.00 200,000.00 132,788.60 79,998.60 199,686.00 CA ST UNIV TXBL REV BONDS DTD 07/29/2021 0.862% 11/01/2025 CA ST MUNICIPAL BONDS 2,423.00 DTD 03/15/2023 4.846% 03/01/2027 Security Type Sub-Total 1,535,000.00 1,536,023.10 1.87 6,879.02 1,535,231.06 1,482,403.35 Federal Agency Commercial Mortgage-Backed Security FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024 3137BGK24 3137BNGT5 3137BSP72 3137BTUM1 3137BXQY1 3137F1G44 3137HBC69 3137HAD45 3137HACX2 3136BQDE6 244,283.12 AA+ 275,000.00 AA+ 550,000.00 AA+ 375,712.67 AA+ 550,000.00 AA+ 550,000.00 AA+ 397,229.54 AA+ 437,523.47 AA+ 550,000.00 AA+ 550,000.00 AA+ Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa 03/19/20 04/11/23 04/06/23 05/19/23 08/16/23 06/08/23 12/06/23 07/19/23 07/13/23 07/18/23 03/25/20 04/14/23 04/12/23 05/24/23 08/18/23 06/13/23 12/14/23 07/27/23 07/20/23 07/31/23 256,382.76 1.95 263,613.28 4.37 526,839.84 4.02 364,147.77 4.31 518,804.69 4.98 527,033.20 4.44 397,226.35 4.86 437,512.57 4.78 555,493.40 4.59 540,675.78 4.58 623.33 629.06 245,576.48 268,360.61 534,822.13 367,588.72 525,763.83 532,890.73 397,226.67 437,514.48 554,513.98 542,263.54 240,847.66 264,568.74 521,386.07 360,696.90 524,220.00 523,502.64 394,230.04 433,885.53 545,693.46 533,262.49 FHMS K054 A2 DTD 04/20/2016 2.745% 01/01/2026 FHMS K058 A2 DTD 11/09/2016 2.653% 08/01/2026 1,215.96 1,047.93 1,477.67 1,486.38 1,608.12 1,741.71 2,208.71 1,920.42 FHMS K061 A2 DTD 01/30/2017 3.347% 11/01/2026 FHMS K064 A2 DTD 05/15/2017 3.224% 03/01/2027 FHLMC MULTIFAMILY STRUCTURED P DTD 07/01/2017 3.243% 04/01/2027 FHMS KJ48 A1 DTD 12/01/2023 4.858% 05/01/2028 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 Page 8 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 K508 A2 DTD 10/01/2023 4.740% 08/01/2028 3137HAQ74 3137HAMH6 3137HAST4 3137HAMS2 3137HB3D4 3137HB3G7 3137HBLV4 500,000.00 AA+ 800,000.00 AA+ 375,000.00 AA+ 500,000.00 AA+ 180,000.00 AA+ 275,000.00 AA+ 290,000.00 AA+ Aaa Aaa Aaa Aaa Aaa Aaa Aaa 10/11/23 09/07/23 10/25/23 09/20/23 11/14/23 11/28/23 02/01/24 10/19/23 09/14/23 10/31/23 09/28/23 11/21/23 12/07/23 02/08/24 489,032.00 5.26 788,165.60 4.99 363,043.88 5.60 494,023.50 5.07 179,479.62 5.14 274,209.93 4.93 292,899.71 4.34 1,975.00 3,100.00 1,515.63 2,000.00 760.35 490,299.16 789,722.24 364,326.55 494,757.18 179,530.05 274,281.10 292,728.85 494,117.99 787,934.22 372,321.82 495,439.02 180,085.91 272,985.46 284,703.92 FHMS K506 A2 DTD 09/01/2023 4.650% 08/01/2028 FHMS K509 A2 DTD 10/01/2023 4.850% 09/01/2028 FHMS K507 A2 DTD 09/01/2023 4.800% 09/01/2028 FHMS K510 A2 DTD 11/01/2023 5.069% 10/01/2028 FHMS K511 A2 DTD 12/01/2023 4.860% 10/01/2028 1,113.75 1,104.90FHMS K514 A2 DTD 02/01/2024 4.572% 12/01/2028 Security Type Sub-Total 7,399,748.80 7,268,583.88 4.67 25,528.92 7,292,166.30 7,229,881.87 Federal Agency Bond / Note FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025 3137EAEU9 3135G05X7 3130AK5E2 3137EAEX3 3135G06G3 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 07/21/20 08/25/20 09/10/20 09/23/20 11/09/20 07/23/20 08/27/20 09/11/20 09/25/20 11/12/20 422,883.50 0.48 348,362.00 0.47 149,550.00 0.44 697,893.00 0.44 647,673.00 0.57 575.52 350.00 135.94 495.83 216.67 424,518.45 349,595.89 149,886.20 699,446.68 649,330.40 402,668.80 330,203.65 141,365.85 658,065.80 609,436.75 FANNIE MAE NOTES 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 2,275,000.00 2,266,361.50 0.49 1,773.96 2,272,777.62 2,141,740.85 Page 9 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 CORP NOTES (CALLED, OMD 6 DTD 06/01/2021 0.824% 06/01/2024 46647PCH7 315,000.00 A-A1 A2 05/24/21 06/01/21 07/11/19 315,000.00 0.82 418,632.00 2.84 1,297.80 6,117.22 315,000.00 400,000.00 314,992.76 398,999.20GOLDMAN SACHS GROUP INC (CALLABLE) BONDS 38141EC23 400,000.00 BBB+07/08/19 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 69371RQ66 70,000.00 A A2 A1 08/09/21 10/22/20 08/12/21 10/29/20 69,993.70 0.75 182,894.25 0.73 158.96 69,999.59 69,297.06 PACCAR FINANCIAL CORP CORPORATE NOTES DTD 02/06/2020 1.800% 02/06/2025 175,000.00 A+ 80,000.00 BBB+ 410,000.00 AA 1,006.25 176,264.29 170,687.65 AMERICAN EXPRESS CO CORP NOTES (CALLABLE DTD 03/04/2022 2.250% 03/04/2025 025816CQ0 771196BT8 437076CM2 17252MAP5 A2 Aa2 A2 03/01/22 03/03/22 03/24/22 04/26/22 03/04/22 03/10/22 03/28/22 05/03/22 79,919.20 2.29 410,000.00 2.13 24,956.25 2.76 64,985.70 3.46 435.00 1,966.77 86.25 79,979.65 410,000.00 24,987.51 64,995.63 78,087.12 399,812.32 24,429.28 63,827.27 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 25,000.00 A CINTAS CORPORATION NO. 2 CORP NOTE (CALL 65,000.00 A-A3 186.88 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 0.80 632.81 350.00 224,770.55 229,866.23 221,065.43 221,198.40GENERAL DYNAMICS CORP (CALLABLE) CORP NO DTD 05/11/2018 3.500% 05/15/2025 AMAZON INC CORP NOTES (CALLABLE) DTD 06/03/2020 0.800% 06/03/2025 023135BQ8 475,000.00 AA A1 06/03/20 06/05/20 474,767.25 0.81 1,878.89 474,953.17 454,025.90 Page 10 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES DTD 06/09/2022 3.500% 06/09/2025 63254ABD9 250,000.00 AA- 50,000.00 A- Aa2 A2 05/31/22 06/09/22 05/04/22 250,000.00 3.50 49,986.50 3.46 4,180.56 795.42 250,000.00 49,995.50 244,788.00 48,918.85NATIONAL RURAL UTIL COOP CORPORATE NOTES 63743HFE7 04/27/22 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 3,100.00 2,906.25 1,840.63 225,000.00 232,524.78 232,233.26 221,285.25 221,191.65 221,233.73 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 14913R2U0 87612EBM7 225,000.00 A- 175,000.00 A- 225,000.00 A+ A1 A1 A2 A2 A2 A2 12/01/21 02/16/22 05/17/21 08/12/21 01/11/22 01/19/22 12/06/21 02/24/22 05/19/21 08/16/21 01/13/22 01/24/22 225,000.00 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 1,673.44 1,223.61 115.00 225,000.00 175,000.00 224,846.80 174,976.89 224,406.60 39,964.15 219,695.18 171,050.78 208,615.50 160,727.70 207,038.93 37,199.28 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 DTD 08/12/2021 1.250% 08/12/2026 175,000.00 225,000.00 40,000.00 A A A 662.33 CATERPILLAR FINL SERVICE CORPORATE NOTES DTD 01/10/2022 1.700% 01/08/2027 1,519.38 294.67TARGET CORP CORP NOTES (CALLABLE) DTD 01/24/2022 1.950% 01/15/2027 Page 11 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 BANK OF NY MELLON CORP (CALLABLE) CORPOR 06406RBA4 475,000.00 A A1 01/26/22 01/28/22 473,945.50 2.10 3,381.08 474,439.80 439,859.03 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 7,906.25 1,848.75 730,663.61 284,771.73 722,223.75 279,409.50AMERICAN 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 2,306.39 1,650.00 9,328.61 470,031.53 289,601.37 491,966.61 444,082.73 285,198.60 484,083.00 CHARLES SCHWAB CORP NOTES (CALLABLE) DTD 09/24/2021 3.300% 04/01/2027 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES Aa2 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 4,932.01 6,696.61 750,985.34 375,942.07 729,633.05 370,682.63TOYOTA 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 350,000.00 A- 85,000.00 A+ A1 02/17/23 05/11/23 02/22/23 05/18/23 329,189.00 4.76 87,043.40 4.04 3,768.33 1,151.28 334,532.52 86,587.44 330,234.45 84,177.20TEXAS INSTRUMENTS INC CORP NOTE (CALLABL Aa3 DTD 11/18/2022 4.600% 02/15/2028 Page 12 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 BRISTOL-MYERS SQUIBB CO CORP NOTES (CALL DTD 07/15/2020 3.900% 02/20/2028 110122DE5 375,000.00 A A2 A2 A1 03/09/23 03/13/23 05/25/23 07/25/23 358,263.75 4.93 59,892.00 4.49 377,865.00 4.78 4,103.13 118.67 362,399.13 59,914.17 377,372.78 361,947.38 58,985.22 374,460.38 LOCKHEED MARTIN CORP NOTES (CALLABLE) DTD 05/25/2023 4.450% 05/15/2028 539830BZ1 24422EXB0 60,000.00 A-05/23/23 07/21/23JOHN DEERE CAPITAL CORP CORPORATE NOTES 375,000.00 A 7,064.06 DTD 07/14/2023 4.950% 07/14/2028 CITIBANK NA CORP NOTES (CALLABLE) DTD 09/29/2023 5.803% 09/29/2028 17325FBB3 009158BH8 750,000.00 A+Aa3 A2 10/02/23 02/06/24 10/04/23 02/08/24 746,280.00 5.92 339,547.80 4.63 7,495.54 4,909.22 746,712.64 339,573.19 766,550.25 335,156.70AIR PRODUCTS & CHEMICALS CORP NOTES (CAL 340,000.00 A DTD 02/08/2024 4.600% 02/08/2029 CISCO SYSTEMS INC CORPORATE NOTES (CALLA DTD 02/26/2024 4.850% 02/26/2029 17275RBR2 09290DAA9 09290DAA9 420,000.00 AA- 50,000.00 AA- 725,000.00 AA- A1 02/21/24 03/05/24 03/06/24 02/26/24 03/14/24 03/14/24 419,853.00 4.86 49,909.50 4.74 725,355.25 4.69 5,375.42 502.64 419,859.90 49,912.97 725,341.39 418,133.10 49,563.35 718,668.58 BLACKROCK FUNDING INC CORPORATE NOTES (C DTD 03/14/2024 4.700% 03/14/2029 Aa3 Aa3BLACKROCK FUNDING INC CORPORATE NOTES (C 7,288.26 DTD 03/14/2024 4.700% 03/14/2029 ADOBE INC CORP NOTES (CALLABLE) DTD 04/04/2024 4.800% 04/04/2029 00724PAF6 00724PAF6 170,000.00 A+ 205,000.00 A+ A1 A1 04/02/24 04/01/24 04/04/24 04/04/24 169,775.60 4.83 204,694.55 4.83 1,292.00 1,558.00 169,781.92 204,703.15 169,693.83 204,630.80ADOBE INC CORP NOTES (CALLABLE) DTD 04/04/2024 4.800% 04/04/2029 Security Type Sub-Total Certificate of Deposit 12,360,000.00 12,318,206.45 3.51 115,104.37 12,269,857.86 12,005,540.77 Page 13 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 Certificate of Deposit TORONTO DOMINION BANK NY CERT DEPOS DTD 10/31/2022 5.600% 10/27/2025 89115B6K1 450,000.00 A A1 10/27/22 10/31/22 11/03/22 450,000.00 5.58 450,000.00 5.53 15,400.00 450,000.00 450,893.33 NORDEA BANK ABP NEW YORK CERT DEPOS DTD 11/03/2022 5.530% 11/03/2025 65558UYF3 450,000.00 AA-Aa3 11/02/22 1,935.50 450,000.00 450,740.25 Security Type Sub-Total Asset-Backed Security 900,000.00 900,000.00 5.56 17,335.50 900,000.00 901,633.58 HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 44933LAC7 65480BAC1 89190GAC1 43815GAC3 14314QAC8 44935FAD6 254683CP8 362554AC1 14318MAD1 65480JAC4 5,481.70 AAA 68,866.64 AAA 65,396.39 AAA 44,640.91 NR 22,598.32 AAA 34,223.25 AAA 195,000.00 AAA 41,843.76 AAA 204,587.81 AAA 140,000.00 AAA NR Aaa NR 04/20/21 06/15/21 06/08/21 11/16/21 04/13/21 11/09/21 09/20/21 10/13/21 07/12/22 09/20/22 04/28/21 06/23/21 06/14/21 11/24/21 04/21/21 11/17/21 09/27/21 10/21/21 07/20/22 09/28/22 5,481.12 0.38 68,865.47 0.33 65,389.34 0.26 44,631.50 0.89 22,593.44 0.52 34,215.61 0.75 194,958.25 0.58 41,842.69 0.68 204,582.98 3.97 139,971.03 4.46 0.93 10.10 7.56 5,481.53 68,866.27 65,394.06 44,637.20 22,596.59 34,219.93 194,980.76 41,843.26 204,584.88 139,981.51 5,457.83 67,887.93 64,582.24 43,671.34 22,316.42 33,497.24 192,160.68 40,787.09 202,026.10 138,512.50 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 Aaa NR 10.91 5.22CARMX 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 NR 11.26 50.27 11.86 360.98 277.51 DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026 Aaa Aaa NR 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 Aaa DTD 09/28/2022 4.460% 05/17/2027 Page 14 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 GMCAR 2022-4 A3 DTD 10/12/2022 4.820% 08/16/2027 36265QAD8 891940AC2 14041NGB1 41285JAD0 344928AD8 43815QAC1 254683CY9 05522RDG0 02582JJZ4 14041NGD7 254683CZ6 438123AC5 31680EAD3 161571HT4 275,000.00 AAA 245,000.00 AAA 245,000.00 AAA 170,000.00 NR 130,000.00 AAA 320,000.00 AAA 320,000.00 NR 170,000.00 AAA 190,000.00 AAA 490,000.00 AAA 350,000.00 AAA 85,000.00 NR NR NR 10/04/22 01/24/23 10/27/22 02/13/23 03/28/23 08/15/23 04/04/23 06/08/23 06/07/23 05/17/23 06/21/23 11/01/23 08/15/23 09/07/23 10/12/22 01/30/23 11/03/22 02/23/23 03/31/23 08/22/23 04/11/23 06/16/23 06/14/23 05/24/23 06/28/23 11/08/23 08/23/23 09/15/23 274,954.93 4.82 244,999.88 4.63 244,961.56 4.95 169,982.88 5.05 129,986.44 4.65 319,934.02 5.42 319,981.44 4.31 169,961.51 4.79 189,983.15 4.87 489,887.64 4.43 349,952.72 4.93 84,985.03 5.67 349,978.30 5.53 404,887.73 5.17 552.29 504.16 539.00 381.56 268.67 625.16 612.98 361.91 411.24 962.58 766.89 133.88 860.22 928.80 274,970.17 244,999.91 244,973.81 169,987.40 129,989.70 319,945.44 319,985.74 169,969.04 189,986.46 489,910.75 349,961.56 84,986.66 273,251.69 242,436.52 243,706.69 168,995.62 128,685.02 319,938.62 314,484.42 168,533.07 188,917.78 481,649.76 347,737.99 85,496.39 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 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 HAROT 2023-3 A3 DTD 08/22/2023 5.410% 02/18/2028 NR DCENT 2023-A1 A DTD 04/11/2023 4.310% 03/15/2028 Aaa NRBACCT 2023-A1 A1 DTD 06/16/2023 4.790% 05/15/2028 AMXCA 2023-1 A DTD 06/14/2023 4.870% 05/15/2028 NR COMET 2023-A1 A DTD 05/24/2023 4.420% 05/15/2028 NR DCENT 2023-A2 A DTD 06/28/2023 4.930% 06/15/2028 Aaa Aaa Aaa NR HAROT 2023-4 A3 DTD 11/08/2023 5.670% 06/21/2028 FITAT 2023-1 A3 DTD 08/23/2023 5.530% 08/15/2028 350,000.00 AAA 405,000.00 AAA 349,981.68 404,902.01 349,752.73 404,067.97CHAIT 2023-A1 A DTD 09/15/2023 5.160% 09/15/2028 Page 15 Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 AMXCA 2023-3 A DTD 09/19/2023 5.230% 09/15/2028 02582JKD1 05522RDH8 02582JKH2 410,000.00 AAA 180,000.00 NR 495,000.00 AAA NR Aaa NR 09/12/23 12/07/23 04/16/24 09/19/23 12/14/23 04/23/24 409,981.67 5.23 179,975.83 4.98 494,898.53 5.23 953.02 398.40 409,983.97 179,977.87 494,900.44 410,365.93 179,185.12 497,239.42 BACCT 2023-A2 A2 DTD 12/14/2023 4.980% 11/15/2028 AMXCA 2024-1 A 1,150.60 DTD 04/23/2024 5.230% 04/16/2029 Security Type Sub-Total 5,652,638.78 53,622,387.58 5,651,824.69 4.56 3.85 11,157.96 5,651,998.60 52,688,139.35 5,615,344.11 51,723,392.89Managed Account Sub-Total Joint Powers Authority CAMP Pool 52,368,228.16 261,969.47 312,890.23 AAAm NR 312,890.23 0.00 312,890.23 312,890.23 Liquid Sub-Total 312,890.23 312,890.23 0.00 312,890.23 312,890.23 Securities Sub-Total Accrued Interest Total Investments $53,935,277.81 $52,681,118.39 3.85%$261,969.47 $53,001,029.58 $52,036,283.12 $261,969.47 $52,298,252.59 Page 16 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 12/31/2019 1.750% 12/31/2024 US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025 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 NOTES DTD 04/30/2022 2.750% 04/30/2027 US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY NOTES DTD 11/30/2022 3.875% 11/30/2027 US TREASURY NOTES DTD 11/30/2022 3.875% 11/30/2027 US TREASURY NOTES DTD 02/28/2023 4.000% 02/29/2028 US TREASURY NOTES DTD 02/28/2023 4.000% 02/29/2028 US TREASURY NOTES 912828YY0 912828ZW3 912828U24 912828U24 912828U24 912828U24 91282CEN7 91282CFB2 91282CFB2 91282CFB2 91282CFB2 91282CFZ9 91282CFZ9 91282CGP0 91282CGP0 91282CGP0 91282CGP0 50,000.00 WELLS_F 50,000.00 GOLDMAN 250,000.00 BMO 97.98 94.94 93.67 93.67 93.67 93.67 94.80 94.47 94.47 94.47 94.47 97.63 97.63 97.97 97.97 97.97 97.97 48,992.19 47,468.75 (4,449.22) (1,562.50) 6,035.17 (1,463.95) (2,284.52) (2,502.12) (18,467.95) (41,922.88) (230,679.69) (31,806.19) (11,288.13) (2,922.13) (6,463.55) (16,513.48) (23,875.37) (14,562.97) (2,020.00) (14,499.28) (13,588.72) 15,601.38 0.58 1.08 2.40 2.40 2.40 2.40 2.81 3.02 3.02 3.02 3.02 3.30 3.30 3.48 3.48 3.48 3.48 5.31 5.12 4.76 4.76 4.76 4.76 4.68 4.65 4.65 4.65 4.65 4.62 4.62 4.59 4.59 4.59 4.59 234,179.70 913,300.83 1,967,109.48 8,898,828.60 1,137,562.56 354,257.81 377,875.00 566,812.50 779,367.19 1,147,093.75 1,171,500.00 391,875.00 587,812.50 1,322,578.13 2,400,234.37 975,000.00 BMO 6,208.06 2,100,000.00 HSBC 9,500,000.00 JPM_CHA 1,200,000.00 BNP_PAR 375,000.00 MORGAN_ 400,000.00 BMO 13,043.07 (23,749.53) (17,859.32) (8,071.29) 4,609.38 600,000.00 CITIGRP 825,000.00 HSBC 1,171.87 (7,412.11) (23,408.20) (12,609.38) (1,765.63) (14,695.31) (12,708.98) 16,843.74 1,175,000.00 CITIGRP 1,200,000.00 HSBC 400,000.00 JPM_CHA 600,000.00 CITIGRP 1,350,000.00 CITIGRP 2,450,000.00 HSBC DTD 02/28/2023 4.000% 02/29/2028 US TREASURY NOTES DTD 02/28/2023 4.000% 02/29/2028 Page 17 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 Security Type Sub-Total Municipal Bond / Note 23,500,000.00 22,346,848.36 (80,380.18)(419,259.55)2.80 4.70 CT ST TXBL GO BONDS 20772KJW0 157411TK5 650036DT0 91412HGE7 341271AD6 341271AD6 341271AD6 60412AK85 60,000.00 SIEBERT 100,000.00 RBC 99.70 99.58 96.68 95.86 95.59 95.59 95.59 94.91 59,817.60 99,582.00 314,210.00 81,478.45 62,132.20 81,249.80 152,940.80 94,912.70 (182.40) (418.00) (182.40) (418.00) 0.09 0.17 0.79 0.87 1.08 1.08 1.08 1.16 5.50 4.56 5.20 5.38 5.50 5.50 5.50 5.17 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 DTD 07/16/2020 0.883% 05/15/2025 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 MINNESOTA ST-F-UNREF MUNICIPAL BONDS 325,000.00 WELLS_F 85,000.00 JPM_CHA 65,000.00 MERRILL 85,000.00 MERRILL 160,000.00 MERRILL 100,000.00 MORGAN_ (10,790.00) (3,521.55) (3,327.35) (4,313.75) (7,059.20) (5,087.30) (10,790.00) (3,521.55) (2,971.59) (3,877.47) (7,059.20) (5,087.30) 04/15/25 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 798306WP7 54438CYK2 13077DQD7 13063D3N6 130,000.00 KEYBANC 140,000.00 MERRILL 85,000.00 JPM_CHA 200,000.00 WELLS_F 95.08 94.85 94.12 99.84 123,606.60 132,788.60 79,998.60 199,686.00 (6,393.40) (7,211.40) (5,001.40) (314.00) (6,393.40) (7,211.40) (5,001.40) (314.00) 1.16 1.16 1.41 2.58 5.24 5.38 5.22 4.90 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 1,482,403.35 (53,619.75)(52,827.71)1.15 5.22 Federal Agency Commercial Mortgage-Backed Security FHMS K043 A2 3137BGK24 244,283.12 CITIGRP 98.59 240,847.66 (15,535.10)(4,728.82)0.48 5.91 DTD 03/01/2015 3.062% 12/01/2024 Page 18 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 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 FHMS K064 A2 DTD 05/15/2017 3.224% 03/01/2027 FHLMC MULTIFAMILY STRUCTURED P DTD 07/01/2017 3.243% 04/01/2027 FHMS KJ48 A1 DTD 12/01/2023 4.858% 05/01/2028 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 FHMS K508 A2 DTD 10/01/2023 4.740% 08/01/2028 FHMS K506 A2 DTD 09/01/2023 4.650% 08/01/2028 FHMS K509 A2 DTD 10/01/2023 4.850% 09/01/2028 FHMS K507 A2 DTD 09/01/2023 4.800% 09/01/2028 FHMS K510 A2 DTD 11/01/2023 5.069% 10/01/2028 FHMS K511 A2 DTD 12/01/2023 4.860% 10/01/2028 FHMS K514 A2 3137BNGT5 3137BSP72 3137BTUM1 3137BXQY1 3137F1G44 3137HBC69 3137HAD45 3137HACX2 3136BQDE6 3137HAQ74 3137HAMH6 3137HAST4 3137HAMS2 3137HB3D4 3137HB3G7 3137HBLV4 275,000.00 BAIRD 96.21 94.80 96.00 95.31 95.18 99.24 99.17 99.22 96.96 98.82 98.49 99.29 99.09 100.05 99.27 98.17 264,568.74 521,386.07 360,696.90 524,220.00 523,502.64 394,230.04 433,885.53 545,693.46 533,262.49 494,117.99 787,934.22 372,321.82 495,439.02 180,085.91 272,985.46 284,703.92 955.46 (5,453.77) (3,450.87) 5,415.31 (3,791.87) (13,436.06) (6,891.82) (1,543.83) (9,388.09) (2,996.63) (3,628.95) (8,820.52) (9,001.05) 3,818.83 1.45 2.07 2.19 2.47 2.61 3.17 2.75 3.51 3.67 3.67 3.65 3.74 3.70 3.76 3.80 3.90 5.24 5.19 5.11 5.05 5.07 5.07 5.01 5.04 5.02 5.05 5.05 5.04 5.04 5.06 5.05 5.03 550,000.00 BREAN 375,712.67 CITIGRP 550,000.00 MORGAN_ 550,000.00 CITIGRP 397,229.54 JPM_CHA 437,523.47 JPM_CHA 550,000.00 JPM_CHA 550,000.00 JPM_CHA 500,000.00 BMO (3,530.56) (2,996.31) (3,627.04) (9,799.94) (7,413.29) 5,085.99 800,000.00 WELLS_F 375,000.00 MORGAN_ 500,000.00 MERRILL 180,000.00 JPM_CHA 275,000.00 MERRILL 290,000.00 JPM_CHA (231.38)(1,788.02) 7,995.279,277.94 1,415.52 681.84 606.29 555.86 (1,224.47) (8,195.79) (1,295.64) (8,024.93) DTD 02/01/2024 4.572% 12/01/2028 Security Type Sub-Total 7,399,748.80 7,229,881.87 (38,702.01)(62,284.43)3.06 5.09 Page 19 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 Bond / Note FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025 FANNIE MAE NOTES 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 3137EAEU9 3135G05X7 3130AK5E2 3137EAEX3 3135G06G3 425,000.00 WELLS_F 350,000.00 BARCLAY 150,000.00 WELLS_F 700,000.00 CITIGRP 650,000.00 BARCLAY 94.75 94.34 94.24 94.01 93.76 402,668.80 330,203.65 141,365.85 658,065.80 609,436.75 (20,214.70) (18,158.35) (8,184.15) (39,827.20) (38,236.25) (21,849.65) (19,392.24) (8,520.35) (41,380.88) (39,893.65) 1.14 1.23 1.26 1.31 1.43 5.17 5.16 5.15 5.15 5.06 DTD 11/12/2020 0.500% 11/07/2025 Security Type Sub-Total Corporate Note 2,275,000.00 2,141,740.85 (124,620.65)(131,036.77)1.30 5.13 JPMORGAN CHASE CORP NOTES (CALLED, OMD 6 DTD 06/01/2021 0.824% 06/01/2024 GOLDMAN SACHS GROUP INC (CALLABLE) BONDS 46647PCH7 38141EC23 315,000.00 JPM_CHA 400,000.00 SUSQ 06/01/24 100.00 99.75 314,992.76 398,999.20 (7.24)(7.24)0.00 0.11 1.63 6.14(19,632.80)(1,000.80) DTD 07/08/2014 3.850% 07/08/2024 BMW US CAPITAL LLC CORPORATE NOTES DTD 08/12/2021 0.750% 08/12/2024 PACCAR FINANCIAL CORP CORPORATE NOTES 05565EBU8 69371RQ66 70,000.00 GOLDMAN 175,000.00 MERRILL 99.00 97.54 69,297.06 (696.64)(702.53)0.20 0.68 5.82 5.52170,687.65 (12,206.60)(5,576.64) 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 025816CQ0 771196BT8 437076CM2 80,000.00 BARCLAY 410,000.00 DEUTSCH 25,000.00 MORGAN_ 02/01/25 02/10/25 03/15/25 97.61 97.52 97.72 78,087.12 399,812.32 24,429.28 (1,832.08) (10,187.68) (526.97) (1,892.53) (10,187.68) (558.23) 0.67 0.69 0.79 5.50 5.43 5.40 DTD 03/28/2022 2.700% 04/15/2025 Page 20 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 98.20 63,827.27 (1,158.43)(1,168.36)0.83 5.49 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 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 98.25 98.31 221,065.43 221,198.40 (3,198.82)(3,705.12) (8,667.83) 0.91 0.79 5.35 5.3303/15/25 05/03/25 (31,049.10) 023135BQ8 63254ABD9 475,000.00 GOLDMAN 250,000.00 CITIGRP 95.58 97.92 454,025.90 244,788.00 (20,741.35) (5,212.00) (20,927.27) (5,212.00) 0.92 1.00 5.36 5.62 DTD 06/09/2022 3.500% 06/09/2025 NATIONAL RURAL UTIL COOP CORPORATE NOTES 63743HFE7 50,000.00 RBC 97.84 48,918.85 (1,067.65)(1,076.65)1.02 5.61 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) DTD 12/06/2021 1.530% 12/06/2025 JPMORGAN CHASE & CO CORP NOTES (CALLABLE DTD 02/24/2022 2.595% 02/24/2026 UNITEDHEALTH GROUP INC (CALLABLE) CORPOR 459200KS9 06051GFS3 002824BM1 225,000.00 JPM_CHA 225,000.00 MERRILL 225,000.00 US_BANC 98.35 98.31 98.33 221,285.25 221,191.65 221,233.73 (3,714.75) (35,726.85) (36,611.77) (3,714.75) (11,333.13) (10,999.53) 1.13 1.14 1.02 5.49 5.38 5.2306/15/25 12/06/24 02/24/25 04/15/26 06051GKE8 46647PCV6 91324PEC2 225,000.00 MERRILL 175,000.00 JPM_CHA 225,000.00 CITIGRP 97.64 97.74 92.72 219,695.18 171,050.78 208,615.50 (5,304.82) (3,949.22) (15,993.00) (5,304.82) (3,949.22) (16,231.30) 0.51 0.73 1.86 3.13 3.95 5.10 DTD 05/19/2021 1.150% 05/15/2026 Page 21 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 BMW US CAPITAL LLC (CALLABLE) CORPORATE DTD 08/12/2021 1.250% 08/12/2026 CATERPILLAR FINL SERVICE CORPORATE NOTES 05565EBW4 14913R2U0 175,000.00 MITSU 07/12/26 91.84 92.02 160,727.70 207,038.93 (14,219.80) (16,824.82) (14,249.19) (17,367.67) 2.09 2.54 5.22 5.01225,000.00 JPM_CHA 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 93.00 92.60 37,199.28 (2,732.72)(2,764.87)2.47 2.50 4.82 5.06475,000.00 DEUTSCH 439,859.03 (34,086.47)(34,580.77) 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 96.30 93.14 93.49 95.07 96.82 722,223.75 279,409.50 444,082.73 285,198.60 484,083.00 281.25 2,206.50 (8,439.86) (5,362.23) (25,948.80) (4,402.77) (7,883.61) 2.33 2.58 2.63 2.48 2.83 4.79 5.25 4.82 5.19 5.05 475,000.00 SEEL (22,006.27) 273.60300,000.00 BARCLAY 500,000.00 CBAA DTD 09/24/2021 3.300% 04/01/2027 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES (4,242.00) 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 DTD 01/12/2023 4.625% 01/12/2028 NATIONAL RURAL UTIL COOP CORP NOTES (CAL 037833DB3 89236TKQ7 775,000.00 TD 06/12/27 11/07/27 94.15 98.85 729,633.05 370,682.63 (11,429.70) (5,599.87) (21,352.29) (5,259.44) 2.90 3.31 4.85 4.98375,000.00 WELLS_F 637432NP6 350,000.00 MORGAN_94.35 330,234.45 1,045.45 (4,298.07)3.23 5.10 DTD 02/07/2018 3.400% 02/07/2028 Page 22 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 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) DTD 05/25/2023 4.450% 05/15/2028 JOHN DEERE CAPITAL CORP CORPORATE NOTES 882508BV5 110122DE5 539830BZ1 24422EXB0 85,000.00 JPM_CHA 375,000.00 MKTX 01/15/28 11/20/27 04/15/28 99.03 96.52 98.31 99.86 84,177.20 361,947.38 58,985.22 374,460.38 (2,866.20) 3,683.63 (906.78) (2,410.24) (451.75) 3.33 3.24 3.59 3.71 4.89 4.93 4.92 4.99 60,000.00 BARCLAY 375,000.00 CITIGRP (928.95) (3,404.62)(2,912.40) DTD 07/14/2023 4.950% 07/14/2028 CITIBANK NA CORP NOTES (CALLABLE) DTD 09/29/2023 5.803% 09/29/2028 AIR PRODUCTS & CHEMICALS CORP NOTES (CAL 17325FBB3 009158BH8 750,000.00 BARCLAY 340,000.00 BARCLAY 08/29/28 01/08/29 102.21 98.58 766,550.25 335,156.70 20,270.25 (4,391.10) 19,837.61 (4,416.49) 3.79 4.14 5.23 4.94 DTD 02/08/2024 4.600% 02/08/2029 CISCO SYSTEMS INC CORPORATE NOTES (CALLA DTD 02/26/2024 4.850% 02/26/2029 BLACKROCK FUNDING INC CORPORATE NOTES (C DTD 03/14/2024 4.700% 03/14/2029 BLACKROCK FUNDING INC CORPORATE NOTES (C 17275RBR2 09290DAA9 09290DAA9 420,000.00 CITIGRP 50,000.00 CITIGRP 725,000.00 MERRILL 01/26/29 02/14/29 02/14/29 99.56 99.13 99.13 418,133.10 49,563.35 718,668.58 (1,719.90) (346.15) (1,726.80) (349.62) 4.17 4.23 4.23 4.96 4.91 4.91(6,686.67)(6,672.81) DTD 03/14/2024 4.700% 03/14/2029 ADOBE INC CORP NOTES (CALLABLE) DTD 04/04/2024 4.800% 04/04/2029 ADOBE INC CORP NOTES (CALLABLE) DTD 04/04/2024 4.800% 04/04/2029 00724PAF6 00724PAF6 170,000.00 SEEL 03/04/29 03/04/29 99.82 99.82 169,693.83 204,630.80 (81.77) (63.75) (88.09) (72.35) 4.28 4.28 4.84 4.84205,000.00 MERRILL Security Type Sub-Total Certificate of Deposit 12,360,000.00 12,005,540.77 (312,665.68)(264,317.09)2.42 4.98 Page 23 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 Certificate of Deposit 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 100.20 100.16 450,893.33 450,740.25 893.33 740.25 893.33 740.25 1.36 1.38 5.35 5.41450,000.00 WELLS_F DTD 11/03/2022 5.530% 11/03/2025 Security Type Sub-Total Asset-Backed Security 900,000.00 901,633.58 1,633.58 1,633.58 1.37 5.38 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 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 44933LAC7 65480BAC1 89190GAC1 43815GAC3 14314QAC8 44935FAD6 254683CP8 362554AC1 14318MAD1 65480JAC4 36265QAD8 891940AC2 5,481.70 BARCLAY 68,866.64 MITSU 65,396.39 CITIGRP 44,640.91 MERRILL 22,598.32 MERRILL 34,223.25 SMBC 99.56 98.58 98.76 97.83 98.75 97.88 98.54 97.47 98.75 98.94 99.36 98.95 5,457.83 67,887.93 64,582.24 43,671.34 22,316.42 33,497.24 192,160.68 40,787.09 202,026.10 138,512.50 273,251.69 242,436.52 (23.29) (977.54) (23.70) (978.34) 0.07 0.22 0.20 0.45 0.20 0.35 0.28 0.48 0.70 0.95 0.86 1.11 0.72 1.37 1.12 2.23 1.26 1.84 1.22 1.80 4.43 4.85 5.03 4.98 (807.10)(811.82) (960.16)(965.86) (277.02)(280.17) (718.37)(722.69) 195,000.00 CITIGRP 41,843.76 JPM_CHA 204,587.81 RBC (2,797.57) (1,055.60) (2,556.88) (1,458.53) (1,703.24) (2,563.36) (2,820.08) (1,056.17) (2,558.78) (1,469.01) (1,718.48) (2,563.39) 140,000.00 WELLS_F 275,000.00 RBC 245,000.00 MERRILL DTD 01/30/2023 4.630% 09/15/2027 Page 24 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 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 HAROT 2023-3 A3 DTD 08/22/2023 5.410% 02/18/2028 DCENT 2023-A1 A DTD 04/11/2023 4.310% 03/15/2028 BACCT 2023-A1 A1 DTD 06/16/2023 4.790% 05/15/2028 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 DCENT 2023-A2 A DTD 06/28/2023 4.930% 06/15/2028 HAROT 2023-4 A3 DTD 11/08/2023 5.670% 06/21/2028 FITAT 2023-1 A3 DTD 08/23/2023 5.530% 08/15/2028 CHAIT 2023-A1 A DTD 09/15/2023 5.160% 09/15/2028 AMXCA 2023-3 A DTD 09/19/2023 5.230% 09/15/2028 BACCT 2023-A2 A2 DTD 12/14/2023 4.980% 11/15/2028 AMXCA 2024-1 A 14041NGB1 41285JAD0 344928AD8 43815QAC1 254683CY9 05522RDG0 02582JJZ4 14041NGD7 254683CZ6 438123AC5 31680EAD3 161571HT4 02582JKD1 05522RDH8 02582JKH2 245,000.00 RBC 99.47 99.41 98.99 99.98 98.28 99.14 99.43 98.30 99.35 100.58 99.93 99.77 100.09 99.55 100.45 243,706.69 168,995.62 128,685.02 319,938.62 314,484.42 168,533.07 188,917.78 481,649.76 347,737.99 85,496.39 (1,254.87) (987.26) (1,301.42) 4.60 (1,267.12) (991.78) (1,304.68) (6.82) 1.29 1.06 1.31 1.55 1.67 1.81 1.81 1.82 1.88 1.83 1.65 2.10 2.10 2.25 2.59 5.12 5.23 4.95 5.42 4.81 5.03 5.03 4.89 5.11 5.51 5.55 5.22 5.21 5.09 5.12 170,000.00 JPM_CHA 130,000.00 BNP_PAR 320,000.00 MERRILL 320,000.00 RBC (5,497.02) (1,428.44) (1,065.37) (8,237.88) (2,214.73) 511.36 (5,501.32) (1,435.97) (1,068.68) (8,260.99) (2,223.57) 509.73 170,000.00 MERRILL 190,000.00 RBC 490,000.00 RBC 350,000.00 MERRILL 85,000.00 JPM_CHA 350,000.00 JPM_CHA 405,000.00 JPM_CHA 410,000.00 CITIGRP 180,000.00 MERRILL 495,000.00 BARCLAY 349,752.73 404,067.97 410,365.93 179,185.12 497,239.42 (225.57) (819.76) 384.26 (228.95) (834.04) 381.96 (790.71) 2,340.89 (792.75) 2,338.98 DTD 04/23/2024 5.230% 04/16/2029 Security Type Sub-Total 5,652,638.78 5,615,344.11 (36,480.58)(36,654.49)1.59 4.79 Page 25 Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 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 Managed Account Sub-Total 53,622,387.58 51,723,392.89 (644,835.27)(964,746.46)2.48 4.87 Joint Powers Authority CAMP Pool 312,890.23 1.00 312,890.23 0.00 0.00 0.00 Liquid Sub-Total 312,890.23 312,890.23 0.00 0.00 0.00 Securities Sub-Total Accrued Interest Total Investments $53,935,277.81 $52,036,283.12 $261,969.47 $52,298,252.59 ($644,835.27)($964,746.46)2.48 4.87% Page 26 Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 Transaction Type Principal Proceeds Accrued Interest Realized G/L Realized G/L Cost Amort Cost Sale MethodTrade BUY Settle Security Description CUSIP Par Total 05/01/24 05/06/24 US TREASURY NOTES 91282CGP0 2,450,000.00 (2,383,390.63)(17,842.39)(2,401,233.02) DTD 02/28/2023 4.000% 02/29/2028 Transaction Type Sub-Total INTEREST 2,450,000.00 (2,383,390.63)(17,842.39)(2,401,233.02) 05/01/24 05/01/24 USAA CAPITAL CORP CORPORATE NOTES DTD 05/26/2022 3.375% 05/01/2025 CINTAS CORPORATION NO. 2 CORP NOTE (CALL 90327QD89 17252MAP5 225,000.00 65,000.00 0.00 0.00 3,796.88 1,121.25 3,796.88 1,121.2505/01/24 05/01/24 DTD 05/03/2022 3.450% 05/01/2025 CA ST UNIV TXBL REV BONDS DTD 07/29/2021 0.862% 11/01/2025 FHMS KJ48 A1 DTD 12/01/2023 4.858% 05/01/2028 FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024 FHMS K511 A2 DTD 12/01/2023 4.860% 10/01/2028 FHMS K506 A2 DTD 09/01/2023 4.650% 08/01/2028 FHMS K507 A2 DTD 09/01/2023 4.800% 09/01/2028 FHMS K061 A2 DTD 01/30/2017 3.347% 11/01/2026 FHMS KJ46 A1 DTD 07/01/2023 4.777% 06/01/2028 FHMS K064 A2 05/01/24 05/01/24 05/01/24 05/01/24 05/01/24 05/01/24 05/01/24 05/01/24 05/01/24 05/01/24 05/01/24 05/01/24 05/25/24 05/25/24 05/25/24 05/25/24 05/25/24 05/25/24 05/25/24 05/25/24 05/25/24 05/25/24 13077DQD7 3137HBC69 3137BGK24 3137HB3G7 3137HAMH6 3137HAMS2 3137BTUM1 3137HAD45 3137BXQY1 3137F1G44 3137HACX2 85,000.00 397,849.40 244,719.54 275,000.00 800,000.00 500,000.00 376,479.71 437,804.30 550,000.00 550,000.00 550,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 366.35 1,610.63 624.44 366.35 1,610.63 624.44 1,113.75 3,100.00 2,000.00 1,050.06 1,742.83 1,477.67 1,486.38 2,208.71 1,113.75 3,100.00 2,000.00 1,050.06 1,742.83 1,477.67 1,486.38 2,208.71 DTD 05/15/2017 3.224% 03/01/2027 FHLMC MULTIFAMILY STRUCTURED P DTD 07/01/2017 3.243% 04/01/2027 FHMS K505 A2 DTD 07/01/2023 4.819% 06/01/2028 Page 27 Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 Transaction Type Principal Proceeds Accrued Interest Realized G/L Realized G/L Cost Amort Cost Sale MethodTradeSettleSecurity Description CUSIP Par Total INTEREST 05/01/24 05/01/24 05/01/24 05/01/24 05/01/24 05/01/24 05/01/24 05/03/24 05/25/24 05/25/24 05/25/24 05/25/24 05/25/24 05/25/24 05/25/24 05/03/24 FHMS K058 A2 DTD 11/09/2016 2.653% 08/01/2026 FHMS K514 A2 DTD 02/01/2024 4.572% 12/01/2028 FNA 2023-M6 A2 DTD 07/01/2023 4.190% 07/01/2028 FHMS K509 A2 DTD 10/01/2023 4.850% 09/01/2028 FHMS K054 A2 DTD 04/20/2016 2.745% 01/01/2026 FHMS K508 A2 DTD 10/01/2023 4.740% 08/01/2028 FHMS K510 A2 DTD 11/01/2023 5.069% 10/01/2028 NORDEA BANK ABP NEW YORK CERT DEPOS 3137BSP72 550,000.00 290,000.00 550,000.00 375,000.00 275,000.00 500,000.00 180,000.00 450,000.00 0.00 1,215.96 1,215.96 3137HBLV4 3136BQDE6 3137HAST4 3137BNGT5 3137HAQ74 3137HB3D4 65558UYF3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,104.90 1,920.42 1,515.63 629.06 1,104.90 1,920.42 1,515.63 629.06 1,975.00 760.35 1,975.00 760.35 12,442.50 12,442.50 DTD 11/03/2022 5.530% 11/03/2025 FANNIE MAE NOTES DTD 11/12/2020 0.500% 11/07/2025 COMET 2022-A3 A DTD 11/03/2022 4.950% 10/15/2027 TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 LOCKHEED MARTIN CORP NOTES (CALLABLE) 05/07/24 05/15/24 05/15/24 05/15/24 05/07/24 05/15/24 05/15/24 05/15/24 3135G06G3 14041NGB1 89190GAC1 539830BZ1 650,000.00 245,000.00 78,128.60 60,000.00 0.00 0.00 0.00 0.00 1,625.00 1,010.63 16.93 1,625.00 1,010.63 16.93 1,335.00 1,335.00 DTD 05/25/2023 4.450% 05/15/2028 FORDO 2023-A A3 DTD 03/31/2023 4.650% 02/15/2028 CHAIT 2023-A1 A DTD 09/15/2023 5.160% 09/15/2028 DCENT 2021-A1 A1 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 344928AD8 161571HT4 254683CP8 130,000.00 405,000.00 195,000.00 0.00 0.00 0.00 503.75 1,741.50 94.25 503.75 1,741.50 94.25 DTD 09/27/2021 0.580% 09/15/2026 Page 28 Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 Transaction Type Principal Proceeds Accrued Interest Realized G/L Realized G/L Cost Amort Cost Sale MethodTradeSettleSecurity Description CUSIP Par Total INTEREST 05/15/24 05/15/24 UNITEDHEALTH GROUP INC (CALLABLE) CORPOR 91324PEC2 225,000.00 0.00 1,293.75 1,293.75 DTD 05/19/2021 1.150% 05/15/2026 COMET 2023-A1 A DTD 05/24/2023 4.420% 05/15/2028 NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 BACCT 2023-A2 A2 DTD 12/14/2023 4.980% 11/15/2028 NAROT 2022-B A3 DTD 09/28/2022 4.460% 05/17/2027 AMXCA 2024-1 A DTD 04/23/2024 5.230% 04/16/2029 AMXCA 2023-3 A DTD 09/19/2023 5.230% 09/15/2028 HART 2021-C A3 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 14041NGD7 65480BAC1 05522RDH8 65480JAC4 02582JKH2 02582JKD1 44935FAD6 91412HGE7 369550BG2 490,000.00 81,607.27 180,000.00 140,000.00 495,000.00 410,000.00 38,242.38 85,000.00 225,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,804.83 22.44 1,804.83 22.44 747.00 520.33 1,582.07 1,786.92 23.58 747.00 520.33 1,582.07 1,786.92 23.58 DTD 11/17/2021 0.740% 05/15/2026 UNIV OF CAL TXBL REV BONDS DTD 07/16/2020 0.883% 05/15/2025 GENERAL DYNAMICS CORP (CALLABLE) CORP NO 375.28 3,937.50 375.28 3,937.50 DTD 05/11/2018 3.500% 05/15/2025 DCENT 2023-A1 A DTD 04/11/2023 4.310% 03/15/2028 TAOT 2023-A A3 DTD 01/30/2023 4.630% 09/15/2027 CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 AMXCA 2023-1 A DTD 06/14/2023 4.870% 05/15/2028 FITAT 2023-1 A3 DTD 08/23/2023 5.530% 08/15/2028 HART 2021-A A3 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 254683CY9 891940AC2 14314QAC8 02582JJZ4 31680EAD3 44933LAC7 320,000.00 245,000.00 26,694.06 190,000.00 350,000.00 8,564.20 0.00 0.00 0.00 0.00 0.00 0.00 1,149.33 945.29 11.57 1,149.33 945.29 11.57 771.08 1,612.92 2.71 771.08 1,612.92 2.71 DTD 04/28/2021 0.380% 09/15/2025 Page 29 Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 Transaction Type Principal Proceeds Accrued Interest Realized G/L Realized G/L Cost Amort Cost Sale MethodTradeSettleSecurity Description CUSIP Par Total INTEREST 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/16/24 05/16/24 05/18/24 05/21/24 05/21/24 05/31/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/16/24 05/16/24 05/18/24 05/21/24 05/21/24 05/31/24 DCENT 2023-A2 A DTD 06/28/2023 4.930% 06/15/2028 HDMOT 2023-A A3 DTD 02/23/2023 5.050% 12/15/2027 BACCT 2023-A1 A1 DTD 06/16/2023 4.790% 05/15/2028 CARMX 2022-3 A3 DTD 07/20/2022 3.970% 04/15/2027 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 GMCAR 2022-4 A3 DTD 10/12/2022 4.820% 08/16/2027 GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 HAROT 2023-3 A3 254683CZ6 350,000.00 170,000.00 170,000.00 210,000.00 12,825,000.00 275,000.00 45,745.63 0.00 1,437.92 1,437.92 41285JAD0 05522RDG0 14318MAD1 912828U24 36265QAD8 362554AC1 43815QAC1 438123AC5 43815GAC3 91282CFZ9 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 715.42 678.58 715.42 678.58 694.75 694.75 128,250.00 1,104.58 25.92 128,250.00 1,104.58 25.92 320,000.00 85,000.00 1,442.67 401.63 1,442.67 401.63 DTD 08/22/2023 5.410% 02/18/2028 HAROT 2023-4 A3 DTD 11/08/2023 5.670% 06/21/2028 HAROT 2021-4 A3 DTD 11/24/2021 0.880% 01/21/2026 US TREASURY NOTES 49,438.91 36.26 36.26 2,375,000.00 46,015.63 46,015.63 DTD 11/30/2022 3.875% 11/30/2027 Transaction Type Sub-Total PAYDOWNS 30,375,274.00 0.00 246,979.79 246,979.79 05/01/24 05/01/24 05/01/24 05/01/24 05/25/24 05/25/24 05/25/24 05/25/24 FHMS K061 A2 DTD 01/30/2017 3.347% 11/01/2026 FHMS KJ48 A1 DTD 12/01/2023 4.858% 05/01/2028 FHMS KJ46 A1 DTD 07/01/2023 4.777% 06/01/2028 FHMS K043 A2 3137BTUM1 3137HBC69 3137HAD45 3137BGK24 767.04 619.86 280.83 436.42 767.04 619.86 280.83 436.42 0.00 0.00 0.00 0.00 767.04 619.86 280.83 436.42 23.61 0.00 0.01 0.00 0.00 0.00 0.00(21.62) DTD 03/01/2015 3.062% 12/01/2024 Page 30 Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 Transaction Type Principal Proceeds Accrued Interest Realized G/L Realized G/L Cost Amort Cost Sale MethodTradeSettleSecurity Description CUSIP Par Total PAYDOWNS 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/16/24 05/21/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/16/24 05/21/24 TAOT 2021-B A3 DTD 06/14/2021 0.260% 11/17/2025 CARMX 2022-3 A3 DTD 07/20/2022 3.970% 04/15/2027 HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 HAROT 2021-4 A3 89190GAC1 12,732.21 12,732.21 0.00 12,732.21 5,412.19 4,019.13 4,095.74 12,740.63 3,082.50 3,901.87 4,798.00 1.37 0.13 0.90 0.88 0.22 0.32 0.10 1.01 0.00 14318MAD1 44935FAD6 14314QAC8 65480BAC1 44933LAC7 362554AC1 43815GAC3 5,412.19 4,019.13 4,095.74 12,740.63 3,082.50 3,901.87 4,798.00 5,412.19 4,019.13 4,095.74 12,740.63 3,082.50 3,901.87 4,798.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 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 52,886.42 52,886.42 0.00 52,886.42 6.93 0.00 05/01/24 05/01/24 05/01/24 05/01/24 05/06/24 05/06/24 05/06/24 05/06/24 US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026 US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026 US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026 US TREASURY NOTES 91282CCP4 91282CCP4 91282CCP4 91282CCP4 500,000.00 900,000.00 750,000.00 200,000.00 454,628.91 818,332.03 681,943.36 181,851.56 824.18 1,483.52 1,236.26 329.67 455,453.09 819,815.55 683,179.62 182,181.23 (3,085.93) (1,230.47) (8,525.39) 2,843.75 (22,119.95) (36,275.85) (34,715.87) (6,119.21) FIFO FIFO FIFO FIFO DTD 07/31/2021 0.625% 07/31/2026 Transaction Type Sub-Total TRANSFER IN 2,350,000.00 2,136,755.86 3,873.63 2,140,629.49 (9,998.04)(99,230.88) 05/07/24 05/07/24 MINNESOTA ST-F-UNREF MUNICIPAL BONDS 60412AK85 100,000.00 94,499.00 168.00 94,667.00 0.00 0.00 DTD 08/25/2020 0.630% 08/01/2025 Page 31 Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 Transaction Type Trade Settle Principal Proceeds Accrued Interest Realized G/L Realized G/L Cost Amort Cost Sale MethodSecurity Description CUSIP Par Total Transaction Type Sub-Total 100,000.00 94,499.00 168.00 94,667.00 0.00 0.00 TRANSFER OUT 05/07/24 05/07/24 MN ST TXBL GO BONDS 60412AVJ9 100,000.00 94,499.00 168.00 94,667.00 (5,501.00)(5,501.00) DTD 08/25/2020 0.630% 08/01/2025 Transaction Type Sub-Total Managed Account Sub-Total Total Security Transactions 100,000.00 94,499.00 (4,750.35) ($4,750.35) 168.00 233,347.03 $233,347.03 94,667.00 228,596.68 $228,596.68 (5,501.00) (15,492.11) ($15,492.11) (5,501.00) (104,731.88) ($104,731.88) Page 32 Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 Trade Date Settlement Date Share or Unit Price Dollar Amount of Transaction Total Shares OwnedTransaction Description CAMP Pool Opening Balance 05/01/24 05/01/24 05/01/24 05/03/24 05/06/24 05/06/24 05/06/24 05/06/24 05/07/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 276,870.70 277,237.05 278,358.30 282,155.18 294,597.68 2,431,353.54 2,435,227.17 2,417,384.78 33,994.15 05/01/24 05/01/24 05/01/24 05/03/24 05/06/24 05/06/24 05/06/24 05/06/24 05/07/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 Purchase - Interest 13077DQD7 Purchase - Interest 17252MAP5 Purchase - Interest 90327QD89 Purchase - Interest 65558UYF3 Purchase - Principal 91282CCP4 Purchase - Interest 91282CCP4 Redemption - Interest 91282CGP0 Redemption - Principal 91282CGP0 Purchase - Interest 3135G06G3 Purchase - Interest 369550BG2 Purchase - Interest 539830BZ1 Purchase - Interest 912828U24 Purchase - Interest 91324PEC2 Purchase - Interest 02582JKH2 Purchase - Interest 05522RDG0 Purchase - Interest 05522RDH8 Purchase - Interest 14041NGB1 Purchase - Interest 14041NGD7 Purchase - Interest 91412HGE7 Purchase - Interest 02582JJZ4 Purchase - Interest 02582JKD1 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 1.00 366.35 1,121.25 3,796.88 12,442.50 2,136,755.86 3,873.63 (17,842.39) (2,383,390.63) 1,625.00 3,937.50 1,335.00 128,250.00 1,293.75 1,582.07 678.58 35,619.15 39,556.65 40,891.65 169,141.65 170,435.40 172,017.47 172,696.05 173,443.05 174,453.68 176,258.51 176,633.79 177,404.87 179,191.79 747.00 1,010.63 1,804.83 375.28 771.08 1,786.92 Page 33 Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 Trade Date Settlement Date Share or Unit Price Dollar Amount of Transaction Total Shares OwnedTransaction Description CAMP Pool 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/16/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/15/24 05/16/24 Purchase - Interest 14314QAC8 Purchase - Interest 14318MAD1 Purchase - Interest 161571HT4 Purchase - Interest 254683CP8 Purchase - Interest 254683CY9 Purchase - Interest 254683CZ6 Purchase - Interest 31680EAD3 Purchase - Interest 344928AD8 Purchase - Interest 41285JAD0 Purchase - Interest 44933LAC7 Purchase - Interest 44935FAD6 Purchase - Interest 65480BAC1 Purchase - Interest 65480JAC4 Purchase - Interest 89190GAC1 Purchase - Interest 891940AC2 Purchase - Principal 14314QAC8 Purchase - Principal 14318MAD1 Purchase - Principal 89190GAC1 Purchase - Principal 44933LAC7 Purchase - Principal 65480BAC1 Purchase - Principal 44935FAD6 Purchase - Interest 362554AC1 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 11.57 694.75 179,203.36 179,898.11 181,639.61 181,733.86 182,883.19 184,321.11 185,934.03 186,437.78 187,153.20 187,155.91 187,179.49 187,201.93 187,722.26 187,739.19 188,684.48 192,780.22 198,192.41 210,924.62 214,007.12 226,747.75 230,766.88 230,792.80 1,741.50 94.25 1,149.33 1,437.92 1,612.92 503.75 715.42 2.71 23.58 22.44 520.33 16.93 945.29 4,095.74 5,412.19 12,732.21 3,082.50 12,740.63 4,019.13 25.92 Page 34 Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 Trade Date Settlement Date Share or Unit Price Dollar Amount of Transaction Total Shares OwnedTransaction Description CAMP Pool 05/16/24 05/16/24 05/20/24 05/21/24 05/21/24 05/21/24 05/24/24 05/24/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/16/24 05/16/24 05/20/24 05/21/24 05/21/24 05/21/24 05/24/24 05/24/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 Purchase - Interest 36265QAD8 Purchase - Principal 362554AC1 Purchase - Interest 43815QAC1 Purchase - Interest 438123AC5 Purchase - Interest 43815GAC3 Purchase - Principal 43815GAC3 IP Fees April 2024 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 1,104.58 3,901.87 1,442.67 401.63 231,897.38 235,799.25 237,241.92 237,643.55 237,679.81 242,477.81 238,590.50 238,348.43 240,268.85 240,893.29 241,522.35 242,738.31 243,788.37 245,266.04 246,752.42 248,961.13 250,703.96 253,803.96 255,803.96 257,778.96 259,294.59 260,054.94 36.26 4,798.00 (3,887.31) (242.07) 1,920.42 624.44 U.S. Bank Fees March 2024 Purchase - Interest 3136BQDE6 Purchase - Interest 3137BGK24 Purchase - Interest 3137BNGT5 Purchase - Interest 3137BSP72 Purchase - Interest 3137BTUM1 Purchase - Interest 3137BXQY1 Purchase - Interest 3137F1G44 Purchase - Interest 3137HACX2 Purchase - Interest 3137HAD45 Purchase - Interest 3137HAMH6 Purchase - Interest 3137HAMS2 Purchase - Interest 3137HAQ74 Purchase - Interest 3137HAST4 Purchase - Interest 3137HB3D4 629.06 1,215.96 1,050.06 1,477.67 1,486.38 2,208.71 1,742.83 3,100.00 2,000.00 1,975.00 1,515.63 760.35 Page 35 Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS For the Month Ending May 31, 2024 Trade Date Settlement Date Share or Unit Price Dollar Amount of Transaction Total Shares OwnedTransaction Description CAMP Pool 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/31/24 05/31/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/28/24 05/31/24 06/03/24 Purchase - Interest 3137HB3G7 Purchase - Interest 3137HBC69 Purchase - Interest 3137HBLV4 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1,113.75 1,610.63 1,104.90 280.83 261,168.69 262,779.32 263,884.22 264,165.05 264,784.91 265,065.75 265,832.79 266,269.21 265,988.37 312,004.00 312,890.23 Purchase - Correction to Principal 3137HAD45 from 05/25/2024 Purchase - Principal 3137HBC69 619.86 Purchase - Principal 3137HAD45 280.84 Purchase - Principal 3137BTUM1 767.04 Purchase - Principal 3137BGK24 436.42 Redemption - Reversal of Principal 3137HAD45 from 05/25/2024 Purchase - Interest 91282CFZ9 (280.84) 46,015.63 886.23Accrual Income Div Reinvestment - Distributions Page 36 Account Statement For the Month Ending May 31, 2024 CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Trade Date Settlement Date Share or Unit Price Dollar Amount of Transaction Total Shares OwnedTransaction Description Closing Balance 312,890.23 Month of Fiscal YTD May January-May Opening Balance Purchases Redemptions (Excl. Checks) Check Disbursements 276,870.70 2,441,662.77 (2,405,643.24) 0.00 116,772.96 8,834,934.86 (8,638,817.59) 0.00 Closing Balance Average Monthly Balance Monthly Distribution Yield 312,890.23 192,578.68 5.43% Closing Balance 312,890.23 312,890.23 Cash Dividends and Income 886.23 3,008.88 Page 37 Review of Investment Performance CAMP Accounts City of Lake Elsinore Investment Performance Review For the Quarter Ended March 31, 2024 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 March 31, 2024 CITY OF LAKE ELSINORE Market Update Current Market Themes ▸ The U.S. economy is characterized by: ▹ Robust growth that continues to show surprising strength ▹ Sticky inflation that remains above the Federal Reserve (Fed)’s 2% target ▹ Labor markets continuing to show impressive job gains and low unemployment ▹ Resilient consumer spending supported by wage growth that is outpacing inflation ▸ Federal Reserve reaffirms rate cut expectations ▹ Forecast of 75 basis points of cuts this year ▹ After entering the year expecting 6 cuts in 2024, markets have adjusted their expectations to only 2 to 3 cuts in 2024 ▹ Fed officials reaffirm that restoring price stability is the priority, but further confidence in inflation moving toward the 2% target is needed, which may delay the timing of rate cuts ▸ Treasury yields increase following the change in market expectations ▹ Yields on maturities between 2 and 10 years rose 30-40 basis points during the quarter ▹ Yield curve inversion persists ▹ Spreads in most sectors fell to multi-year lows given the strong economic environment 1© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Market Update Inflation Remains Range Bound After Significant Decline in CPI in 2022 and Early 2023 Consumer Price Index Year-Over-Year Changes CPI CPI Forecast Fed Target 9.5% 8.5% 7.5% 6.5% 5.5% 4.5% 3.5% CPI exceeds expectations Federal Reserve Inflation Target2.5% 1.5% Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Source: Bloomberg, as of 4/10/2024. 2© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Market Update Labor Market Remains Strong Monthly Change In Nonfarm Payrolls500 450 400 350 300 250 200 150 100 50 Job Openings vs. Unemployed Workers829K Q1 637K Q4 Job Openings Unemployed 25 20 15 10 5 0 Jobs-to-jobless ratio continues to come into better balanceUnemployment RateApr-20 14.816% 14% 12% 10% 8%2.3mm gap 6%Mar-24 3.8 4% 2% 0%020202021202220232024Feb-20 Feb-21 Feb-22 Feb-23 Feb-24 Source: Bloomberg. Job openings as of February 2024. Monthly change in nonfarm payrolls and unemployment rate as of March 2024. Data is seasonally adjusted. 3© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Market Update Consumer Spending Continues to Drive Strong Economic Growth U.S. GDP 6% 5% 4% 3% 4.9% 3.4% 2.5% 2.0% Atlanta Fed GDPNow Forecast2.6% 2%2.2%Bloomberg Forecast2.1% 1% 0% Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Forecast Source: Bureau of Economic Analysis, U.S. Department of Commerce; as of March 28, 2024. GDPNow estimates provided by the Federal Reserve Bank of Atlanta; as of April 4, 2024. The Atlanta Fed GDPNow estimate is a model-based projection not subject to judgmental adjustments. It is not an official forecast of the Atlanta Fed, its president, the Federal Reserve System, or the Federal Open Market Committee. Bloomberg Forecasts as of March 2024. 4© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Market Update Summary of Economic Projections Show Stronger Economic Story Change in Real GDP Unemployment Rate 6% 5% 4% 3% 2% 1% 0% 4% 3% 2% 1% 0% December Projections March Projections December Projections March Projections 4.1%4.1%4.0%4.0% 2.1%2.0%2.0%1.8% 2024 2025 2026 Longer Run 2024 2025 2026 Longer Run PCE Inflation Federal Funds Rate 4%8%December Projections March Projections December Projections March Projections 3% 2% 1% 0% 6% 4% 2% 0% 2.6%4.6% 3.9%2.2%2.0%2.0% 3.1%2.6% 2024 2025 2026 Longer Run 2024 2025 2026 Longer Run Source: Federal Reserve, latest economic projections as of March 2024. 5© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Market Update Market Reversed Course and Now Expects a Slower Pace of Rate Cuts Implied Fed Funds Rate 3-Month Range Fed Funds as of March 28, 2024 Fed Funds as of January 02, 2024 5.5% 5.0% 4.5% 4.0% 3.5% 3.0% 2.5% 2.0% Market reprices expectations for number of cuts in 2024 in response to hotter than expected inflation and a resilient labor market +76 bps +72 bps Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Source: Bloomberg, as of March 2024. 6© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Market Update Yields Reprice on Fed Patience “…the Committee needs to see more evidence to build our confidence that inflation is moving down sustainably toward our 2 percent goal, and we don’t expect that it will be appropriate to begin to reduce rates until we’re more confident that that is the case” From the March 24 FOMC Meeting Press Conference 2-Year Treasury Yield 10-Year Treasury Yield 6% 5% 4% 3% 6% 5%4.62% 4.35% 4% 3% +37 bps +32 bps Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Source: Federal Reserve, Bloomberg, as of 3/31/2024. 7© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Market Update Treasury Yields Move Higher as Market Evolves to Revised Fed Expectations U.S. Treasury Yield Curve 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 5.32% 5.02% 4.62% 4.41%4.34%4.21%4.20%4.21% 1 Year Range March 31, 2024 December 31, 2023 3mo 2yr 5yr 7yr 10yr 20yr 30yr Maturity Source: Bloomberg, as of 3/31/2024. 8© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Market Update Sector Yield Spreads Federal Agency Yield Spreads Corporate Notes A-AAA Yield Spreads 0.2% 0.1% 0.0% -0.1% Bullet Callable 1 Year Average 1-5 Yr. AAA-A Corp 1 Year Average 0.9% 0.7% 0.5% 0.3% 6 bps 76 bps Dec-23 Jan-24 Feb-24 Mar-24 Dec-23 Jan-24 Feb-24 Mar-24 Mortgage-Backed Securities Yield Spreads Asset-Backed Securities AAA Yield Spreads AAA ABS 1 Year Average0.9% 0.7% 0.5% 0.3% Agency MBS Agency CMBS Index 1 Year Average 0.9% 0.7% 0.5% 0.3% 78 bps57 bps Dec-23 Jan-24 Feb-24 Mar-24 Dec-23 Jan-24 Feb-24 Mar-24 Source: ICE BofA 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of March 31, 2024. 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 and represented by the ICE BofA Agency CMBS Index. 9© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Market Update Factors to Consider for 6-12 Months Monetary Policy:Economic Growth:Inflation: • Fed guidance implies a soft landing and 3 rate cuts for 2024. Market expectations have been volatile but recently converged to Fed projections. • U.S. resiliency continues as expectations for a soft-landing command center stage. Strength is led by consumers supported by a robust labor market. • Inflation continued to moderate but has proven to be stickier than expected, predominantly in housing and other service sectors. • Further upside surprises in inflation indicators may complicate the Fed’s path for monetary policy. • Eurozone growth set to improve in 2024 H2. Although Chinese growth targets seem aspirational, emerging economies are expected to grow. • Globally, central banks are nearing the start of cutting cycles with the Swiss central bank being the first to cut. Financial Conditions:Consumer Spending (U.S.):Labor Markets: • Financial conditions continue to soften as the “Fed pivot” remains in play amid sustained strength in various economic indicators. • Consumer confidence reached a multi-year high following strong wage growth, a resilient labor market, and slowly moderating inflation. • The labor market remains strong, but a few indicators are moderating from the extreme tightness of 2022. • With interest rates elevated, we continue to focus on identifying potential pockets of stress within financial markets. • Hiring and wage growth have played a role in boosting personal income, which combined with record U.S. household net worth, supported spending. • No sign of weakness in typical economically- sensitive industries, like retail, leisure and hospitality, and construction. Negative Slightly Negative Neutral Slightly Positive PositiveCurrent outlook Outlook one quarter ago Statements and opinions expressed about the next 6-12 months were developed based on our independent research with information obtained from Bloomberg. The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC at the time of distribution (3/31/2024) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management LLC cannot guarantee its accuracy, completeness, or suitability. 10© PFM Asset Management LLC | pfmam.com Portfolio Review © PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Snapshot Portfolio Snapshot¹ Portfolio Statistics Sector Allocation Total Market Value Managed Account Sub-Total Accrued Interest $52,184,078.93 $51,668,359.01 $294,317.35 $221,402.57 U.S. Treasury | 43% Corporate | 24%Pool Agency CMBS | 14% ABS | 10% Federal Agency | 4% Municipal | 3% Negotiable CD | 2% JointPowers Authority | <1% Portfolio Effective Duration Benchmark Effective Duration Yield At Cost 2.51 years 2.52 years 3.70% Yield At Market 4.66% Portfolio Credit Quality AA Credit Quality - S&P Duration Distribution Portfolio Benchmark AAA | 10%50% 40% 30% 20% 10% 0% 45%AAAm | <1% AA+ | 63% AA| 4% AA- | 6% A+ | 3% A| 5% A- | 5% BBB+ | 1% Not Rated | 2% 34% 27%26%22% 17% 12%8%5%4% 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 March 31, 2024. 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. 11© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Account Summary Sector Allocation Analytics U.S. Treasury - $22,512,889 43.1% Federal Agency - $2,134,081 Agency CMBS - $7,322,446 Municipal - $1,482,816 Negotiable CD - $924,560 Corporate - $12,344,876 ABS - $5,241,010 4.1% 14.0% 2.8% 1.8% 23.7% 10.0% CAMP - $221,403 0.4% 0.0%20.0%40.0%60.0%80.0%100.0% Portf olio Allocation Sector Limit for Analysis* For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest. *Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided. 12© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Compliance Certificate of Compliance During the reporting period for the quarter ended March 31, 2024, the account(s) managed by PFM Asset Management ("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM. Acknowledged : PFM Asset Management LLC Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM"). 13© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Portfolio Activity Net Activity by Sector ($ millions) Sector Net Activity $1,104,801 $287,190 U.S. Treasury Agency CMBS Corporate U.S. Treasury Agency CMBS Corporate $233,119 ABS ($141,818) ($618,126) ($665,277) $199,888 Supranational Federal Agency Total Net Activity ABS Supranational Federal Agency ($4.0)($2.0)$0.0 $2.0 $4.0 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. 14© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Characteristics Historical Sector Allocation 10% 23% 10% 24% 2% 3%1% 2% 3% 14%14% 4%5% 43%41% Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. 15© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Performance Portfolio Performance Portfolio Benchmark 4.0% 3.0% 2.0% 1.0% 0.0% -1.0%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 $376,675 ($296,280) $80,395 $1,248,507 $391,549 $2,198,273 ($1,634,833) $563,440 $3,621,961 ($547,268) $3,074,693 $6,214,062 ($570,280) $5,643,782$1,640,056 Portfolio 0.15% -0.02% 0.17% 3.24% 2.42% 0.82% -0.27% -0.59% 0.33% 1.28% 0.96% 0.32% 1.41% 1.12% 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. 16© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Performance Accrual Basis Earnings Accrual Basis Earnings 3 Months 1 Year 3 Years 5 Year 10 Year¹ Interest Earned²$376,675 ($147,358) $95,137 $1,248,507 ($510,463) $432,797 $2,198,273 ($866,327) $474,801 $3,621,961 $50,131 $6,214,062 ($173,131) $335,593 Realized Gains / (Losses)³ Change in Amortized Cost Total Earnings $474,044 $4,146,136$324,454 $1,170,841 $1,806,747 $6,376,524 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 March 31, 2024 CITY OF LAKE ELSINORE Market Update Fixed-Income Sector Outlook – 2Q 2024 Sector Our Investment Preferences C O M M E R C I A L P A 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 A T I O N A L S C O R P O R A T 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 P A 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 March 31, 2024 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 23.8%43.3%Corporate UNITED STATES TREASURY 43.3%AA / Aaa / AA AIR PRODUCTS & CHEMICALS AMAZON.COM INC 0.7% 0.9% 0.7% 1.4% 0.9% 0.9% 1.5% 0.4% 0.7% 0.4% 0.6% 0.1% 0.8% 1.5% 0.7% 0.4% 0.8% 0.0% 0.4% 0.9% 0.1% 1.4% 0.8% 1.4% 0.7% A / A / NR AA / A / AA BBB / A / A AA / Aaa / NR A / A / AA AA / Aa / A AA / Aa / NR A / A / NR A / A / NR A / A / A Federal Agency 4.1% AMERICAN EXPRESS CO APPLE INC FANNIE MAE 1.8% 0.3% 2.0% 14.1% AA / Aaa / AA AA / Aaa / NR AA / Aaa / AA FEDERAL HOME LOAN BANKS FREDDIE MAC BANK OF AMERICA CO BERKSHIRE HATHAWAY INC BLACKROCK INC Agency CMBS FANNIE MAE FREDDIE MAC Municipal 1.0% 13.1% 2.9% AA / Aaa / AA AA / Aaa / AA BMW FINANCIAL SERVICES NA LLC BRISTOL-MYERS SQUIBB CO CATERPILLAR INC CALIFORNIA STATE UNIVERSITY 0.2% 0.2% AA / Aa / NR AA / Aa / NR CHARLES SCHWAB A / A / ACHAFFEY JOINT UNION HIGH SCHOOL DISTRICT CINTAS CORPORATION NO. 2 CISCO SYSTEMS INC CITIGROUP INC A / A / NR AA / A / NR A / Aa / 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 DEERE & COMPANY 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 GENERAL DYNAMICS CORP GOLDMAN SACHS GROUP INC HOME DEPOT INC A / A / NR BBB / A / A A / A / A STATE OF CONNECTICUT IBM CORP A / A / A STATE OF MINNESOTA JP MORGAN CHASE & CO LOCKHEED MARTIN CORP MICROSOFT CORP A / A / AA A / A / AUNIVERSITY OF CALIFORNIA Negotiable CD AAA / Aaa / NR A / A / ANORDEA BANK ABP TORONTO-DOMINION BANK Corporate 0.9% 0.9% AA / Aa / AA A / A / NR MORGAN STANLEY NATIONAL AUSTRALIA BANK LTD AA / Aa / NR A / A / A23.8%NATIONAL RURAL UTILITIES CO FINANCE CORPABBOTT LABORATORIES 0.4%AA / Aa / NR PACCAR FINANCIAL CORP 0.3%A / A / NR 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 March 31, 2024 CITY OF LAKE ELSINORE Portfolio Summary Issuer Diversification Security Type / Issuer Corporate Market Value (%) S&P / Moody's / Fitch 23.8% ROCHE HOLDINGS INC TARGET CORP 0.8% 0.1% 0.2% 1.3% AA / Aa / AA A / A / A TEXAS INSTRUMENTS INC A / Aa / NR A / A / AATHE BANK OF NEW YORK MELLON CORPORATION TOYOTA MOTOR CORP UNITEDHEALTH GROUP INC USAA CAPITAL CORP ABS 0.7% 0.4% 0.4% 10.1% A / A / A A / A / A AA / Aa / NR AMERICAN EXPRESS CO 1.2% 0.7% 1.4% 0.5% 0.8% 1.6% 0.7% 0.2% 0.6% AAA / NR / AAA AAA / Aaa / AAA AAA / NR / AAA AAA / NR / AAA AAA / NR / AAA AAA / Aaa / AAA AAA / Aaa / NR AAA / NR / AAA AAA / Aaa / AAA BANK OF AMERICA CO CAPITAL ONE FINANCIAL CORP CARMAX AUTO OWNER TRUST CHASE ISSURANCE DISCOVER FINANCIAL SERVICES FIFTH THIRD AUTO TRUST FORD CREDIT AUTO OWNER TRUST GM FINANCIAL CONSUMER AUTOMOBILE TRUST HARLEY-DAVIDSON MOTORCYCLE TRUST HONDA AUTO RECEIVABLES HYUNDAI AUTO RECEIVABLES NISSAN AUTO RECEIVABLES TOYOTA MOTOR CORP 0.3% 0.9% NR / Aaa / AAA AAA / Aaa / AAA AAA / NR / AAA AAA / Aaa / NR AAA / NR / AAA 0.1% 0.4% 0.6% 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 March 31, 2024 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 ($)CUSIP Security Description Coupon BUY 1/2/2024 2/1/2024 2/2/2024 2/6/2024 2/21/2024 3/1/2024 3/5/2024 3/6/2024 1/5/2024 2/8/2024 2/6/2024 2/8/2024 2/26/2024 3/6/2024 3/14/2024 3/14/2024 1,175,000.00 290,000.00 600,000.00 340,000.00 420,000.00 1,350,000.00 50,000.00 91282CFZ9 3137HBLV4 91282CGP0 009158BH8 17275RBR2 91282CGP0 09290DAA9 09290DAA9 US TREASURY NOTES 3.87% 4.57% 4.00% 4.60% 4.85% 4.00% 4.70% 4.70% 11/30/2027 12/1/2028 2/29/2028 2/8/2029 1,174,980.43 293,157.52 612,991.33 339,547.80 419,853.00 1,336,167.54 49,909.50 3.98% 4.34% 3.89% 4.63% 4.86% 4.30% 4.74% 4.69% FHMS K514 A2 US TREASURY NOTES AIR PRODUCTS & CHEMICALS CORP NOTES (CAL CISCO SYSTEMS INC CORPORATE NOTES (CALLA US TREASURY NOTES 2/26/2029 2/29/2028 3/14/2029 3/14/2029 BLACKROCK FUNDING INC CORPORATE NOTES (C BLACKROCK FUNDING INC CORPORATE NOTES (C725,000.00 4,950,000.00 725,355.25 4,951,962.37Total BUY INTEREST 1/1/2024 1/1/2024 1/1/2024 1/1/2024 1/1/2024 1/1/2024 1/1/2024 0.00 1/1/2024 60,000.00 310,000.00 550,000.00 550,000.00 438,814.98 500,000.00 379,432.02 20772KJW0 341271AD6 3137F1G44 3137HACX2 3137HAD45 3137HAQ74 3137BTUM1 CT ST TXBL GO BONDS FL ST BOARD OF ADMIN TXBL REV BONDS FHLMC MULTIFAMILY STRUCTURED P FHMS K505 A2 1.99% 1.25% 3.24% 4.81% 4.77% 4.74% 3.34% 7/1/2024 7/1/2025 4/1/2027 6/1/2028 6/1/2028 8/1/2028 11/1/2026 599.40 1,949.90 1,486.38 2,208.71 1,746.85 1,975.00 1,058.30 1/1/2024 1/25/2024 1/25/2024 1/25/2024 1/25/2024 1/25/2024 FHMS KJ46 A1 FHMS K508 A2 FHMS K061 A2 21© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 1/1/2024 1/1/2024 1/1/2024 1/1/2024 1/1/2024 1/1/2024 1/1/2024 1/1/2024 1/1/2024 1/1/2024 1/1/2024 1/8/2024 1/8/2024 1/12/2024 1/14/2024 1/15/2024 1/15/2024 1/25/2024 1/25/2024 1/25/2024 1/25/2024 1/25/2024 1/25/2024 1/25/2024 1/25/2024 1/25/2024 1/25/2024 1/25/2024 1/8/2024 275,000.00 246,403.24 800,000.00 550,000.00 275,000.00 180,000.00 500,000.00 400,000.00 550,000.00 550,000.00 375,000.00 400,000.00 225,000.00 375,000.00 375,000.00 320,000.00 490,000.00 3137BNGT5 3137BGK24 3137HAMH6 3137BXQY1 3137HB3G7 3137HB3D4 3137HAMS2 3137HBC69 3136BQDE6 3137BSP72 3137HAST4 38141EC23 14913R2U0 89236TKQ7 24422EXB0 254683CY9 14041NGD7 FHMS K054 A2 2.74% 3.06% 4.65% 3.22% 4.86% 5.06% 4.80% 4.85% 4.19% 2.65% 4.85% 3.85% 1.70% 4.62% 4.95% 4.31% 4.42% 1/1/2026 12/1/2024 8/1/2028 3/1/2027 10/1/2028 10/1/2028 9/1/2028 5/1/2028 7/1/2028 8/1/2026 9/1/2028 7/8/2024 1/8/2027 1/12/2028 7/14/2028 3/15/2028 5/15/2028 629.06 FHMS K043 A2 628.74 3,100.00 1,477.67 1,113.75 760.35 FHMS K506 A2 FHMS K064 A2 FHMS K511 A2 FHMS K510 A2 FHMS K507 A2 2,000.00 1,619.33 1,920.42 1,215.96 1,515.63 7,700.00 1,912.50 8,671.88 9,281.25 1,149.33 1,804.83 FHMS KJ48 A1 FNA 2023-M6 A2 FHMS K058 A2 FHMS K509 A2 GOLDMAN SACHS GROUP INC (CALLABLE) BONDS CATERPILLAR FINL SERVICE CORPORATE NOTES TOYOTA MOTOR CREDIT CORP CORPORATE NOTES JOHN DEERE CAPITAL CORP CORPORATE NOTES DCENT 2023-A1 A 1/8/2024 1/12/2024 1/14/2024 1/15/2024 1/15/2024 COMET 2023-A1 A 22© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 1/15/2024 245,000.00 410,000.00 55,241.14 195,000.00 190,000.00 44,027.41 140,000.00 350,000.00 40,000.00 133,305.37 180,000.00 170,000.00 350,000.00 170,000.00 405,000.00 210,000.00 21,690.17 14041NGB1 02582JKD1 44935FAD6 254683CP8 02582JJZ4 14314QAC8 65480JAC4 31680EAD3 87612EBM7 65480BAC1 05522RDH8 41285JAD0 254683CZ6 05522RDG0 161571HT4 14318MAD1 44933LAC7 COMET 2022-A3 A AMXCA 2023-3 A 4.95% 5.23% 0.74% 0.58% 4.87% 0.52% 4.46% 5.53% 1.95% 0.33% 4.98% 5.05% 4.93% 4.79% 5.16% 3.97% 0.38% 10/15/2027 9/15/2028 5/15/2026 9/15/2026 5/15/2028 2/17/2026 5/17/2027 8/15/2028 1/15/2027 10/15/2025 11/15/2028 12/15/2027 6/15/2028 5/15/2028 9/15/2028 4/15/2027 9/15/2025 1,010.63 1,786.92 34.07HART 2021-C A3 DCENT 2021-A1 A1 AMXCA 2023-1 A 94.25 771.08 19.08CARMX 2021-2 A3 NAROT 2022-B A3 FITAT 2023-1 A3 520.33 1,612.92 390.00 36.66 TARGET CORP CORP NOTES (CALLABLE) NAROT 2021-A A3 BACCT 2023-A2 A2 HDMOT 2023-A A3 DCENT 2023-A2 A BACCT 2023-A1 A1 CHAIT 2023-A1 A 771.90 715.42 1,437.92 678.58 1,741.50 694.75 6.87 CARMX 2022-3 A3 HART 2021-A A3 23© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 1/15/2024 1/15/2024 1/15/2024 1/16/2024 1/16/2024 1/18/2024 1/21/2024 1/21/2024 1/21/2024 1/26/2024 1/27/2024 1/31/2024 1/31/2024 2/1/2024 1/15/2024 1/15/2024 1/15/2024 1/16/2024 1/16/2024 1/18/2024 1/21/2024 1/21/2024 1/21/2024 1/26/2024 1/27/2024 1/31/2024 1/31/2024 2/1/2024 245,000.00 132,375.83 130,000.00 275,000.00 61,236.98 891940AC2 89190GAC1 344928AD8 36265QAD8 362554AC1 43815QAC1 438123AC5 43815GAC3 3137EAEU9 06406RBA4 459200KS9 91282CCP4 91282CFB2 06051GFS3 157411TK5 60412AVJ9 54438CYK2 TAOT 2023-A A3 4.63% 0.26% 4.65% 4.82% 0.68% 5.41% 5.67% 0.88% 0.37% 2.05% 4.00% 0.62% 2.75% 3.87% 2.10% 0.63% 0.77% 9/15/2027 11/17/2025 2/15/2028 8/16/2027 9/16/2026 2/18/2028 6/21/2028 1/21/2026 7/21/2025 1/26/2027 7/27/2025 7/31/2026 7/31/2027 8/1/2025 945.29 TAOT 2021-B A3 28.68 503.75FORDO 2023-A A3 GMCAR 2022-4 A3 1,104.58 34.70GMCAR 2021-4 A3 320,000.00 85,000.00 HAROT 2023-3 A3 1,442.67 401.63HAROT 2023-4 A3 69,655.21 HAROT 2021-4 A3 51.08 425,000.00 475,000.00 225,000.00 3,800,000.00 2,600,000.00 225,000.00 100,000.00 100,000.00 140,000.00 FREDDIE MAC NOTES 796.88 BANK OF NY MELLON CORP (CALLABLE) CORPOR IBM CORP CORPORATE NOTES US TREASURY NOTES 4,868.75 4,500.00 11,875.00 35,750.00 4,359.38 1,050.50 315.00 US TREASURY NOTES BANK OF AMERICA CORP NOTES CHAFFEY UHSD, CA TXBL GO BONDS MN ST TXBL GO BONDS LOS ANGELES CCD, CA TXBL GO BONDS 2/1/2024 2/1/2024 8/1/2024 2/1/2024 2/1/2024 8/1/2025 2/1/2024 2/1/2024 8/1/2025 541.10 24© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 2/1/2024 130,000.00 550,000.00 438,589.06 550,000.00 550,000.00 180,000.00 800,000.00 550,000.00 378,720.49 375,000.00 399,541.01 500,000.00 550,000.00 500,000.00 245,996.40 275,000.00 275,000.00 798306WP7 3137BXQY1 3137HAD45 3137BSP72 3137F1G44 3137HB3D4 3137HAMH6 3136BQDE6 3137BTUM1 3137HAST4 3137HBC69 3137HAQ74 3137HACX2 3137HAMS2 3137BGK24 3137HB3G7 3137BNGT5 SAN JUAN USD, CA TXBL GO BONDS FHMS K064 A2 0.85% 3.22% 4.77% 2.65% 3.24% 5.06% 4.65% 4.19% 3.34% 4.85% 4.85% 4.74% 4.81% 4.80% 3.06% 4.86% 2.74% 8/1/2025 3/1/2027 6/1/2028 8/1/2026 4/1/2027 10/1/2028 8/1/2028 7/1/2028 11/1/2026 9/1/2028 5/1/2028 8/1/2028 6/1/2028 9/1/2028 12/1/2024 10/1/2028 1/1/2026 553.80 2/25/2024 2/25/2024 2/25/2024 2/25/2024 2/25/2024 2/25/2024 2/25/2024 2/25/2024 2/25/2024 2/25/2024 2/25/2024 2/25/2024 2/25/2024 2/25/2024 2/25/2024 2/25/2024 1,477.67 1,745.95 1,215.96 1,486.38 760.35 FHMS KJ46 A1 FHMS K058 A2 FHLMC MULTIFAMILY STRUCTURED P FHMS K510 A2 FHMS K506 A2 3,100.00 1,920.42 1,056.31 1,515.63 1,617.48 1,975.00 2,208.71 2,000.00 627.70 FNA 2023-M6 A2 FHMS K061 A2 FHMS K509 A2 FHMS KJ48 A1 FHMS K508 A2 FHMS K505 A2 FHMS K507 A2 FHMS K043 A2 FHMS K511 A2 1,113.75 629.06FHMS K054 A2 25© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 2/6/2024 2/6/2024 175,000.00 750,000.00 350,000.00 70,000.00 69371RQ66 594918BY9 637432NP6 05565EBU8 05565EBW4 44935FAD6 891940AC2 31680EAD3 65480JAC4 89190GAC1 344928AD8 44933LAC7 254683CY9 161571HT4 05522RDG0 14318MAD1 02582JKD1 PACCAR FINANCIAL CORP CORPORATE NOTES MICROSOFT CORP CORP NOTES (CALLABLE) NATIONAL RURAL UTIL COOP CORP NOTES (CAL BMW US CAPITAL LLC CORPORATE NOTES BMW US CAPITAL LLC (CALLABLE) CORPORATE HART 2021-C A3 1.80% 3.30% 3.40% 0.75% 1.25% 0.74% 4.63% 5.53% 4.46% 0.26% 4.65% 0.38% 4.31% 5.16% 4.79% 3.97% 5.23% 2/6/2025 1,575.00 12,375.00 5,950.00 262.50 2/6/2024 2/6/2024 2/6/2027 2/7/2024 2/7/2024 2/7/2028 2/12/2024 2/12/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/12/2024 2/12/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 8/12/2024 8/12/2026 5/15/2026 9/15/2027 8/15/2028 5/17/2027 11/17/2025 2/15/2028 9/15/2025 3/15/2028 9/15/2028 5/15/2028 4/15/2027 9/15/2028 175,000.00 50,986.18 1,093.75 31.44 245,000.00 350,000.00 140,000.00 118,768.93 130,000.00 18,336.11 TAOT 2023-A A3 945.29 FITAT 2023-1 A3 1,612.92 520.33NAROT 2022-B A3 TAOT 2021-B A3 25.73 FORDO 2023-A A3 503.75 HART 2021-A A3 5.81 320,000.00 405,000.00 170,000.00 210,000.00 410,000.00 DCENT 2023-A1 A 1,149.33 1,741.50 678.58 CHAIT 2023-A1 A BACCT 2023-A1 A1 CARMX 2022-3 A3 694.75 AMXCA 2023-3 A 1,786.92 26© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/16/2024 2/16/2024 2/18/2024 2/20/2024 2/21/2024 2/21/2024 2/24/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/16/2024 2/16/2024 2/18/2024 2/20/2024 2/21/2024 2/21/2024 2/24/2024 195,000.00 190,000.00 490,000.00 39,613.16 85,000.00 120,292.16 350,000.00 245,000.00 170,000.00 180,000.00 57,381.81 275,000.00 320,000.00 375,000.00 64,458.89 85,000.00 175,000.00 254683CP8 02582JJZ4 14041NGD7 14314QAC8 882508BV5 65480BAC1 254683CZ6 14041NGB1 41285JAD0 05522RDH8 362554AC1 36265QAD8 43815QAC1 110122DE5 43815GAC3 438123AC5 46647PCV6 DCENT 2021-A1 A1 0.58% 4.87% 4.42% 0.52% 4.60% 0.33% 4.93% 4.95% 5.05% 4.98% 0.68% 4.82% 5.41% 3.90% 0.88% 5.67% 2.59% 9/15/2026 5/15/2028 5/15/2028 2/17/2026 2/15/2028 10/15/2025 6/15/2028 10/15/2027 12/15/2027 11/15/2028 9/16/2026 8/16/2027 2/18/2028 2/20/2028 1/21/2026 6/21/2028 2/24/2026 94.25 AMXCA 2023-1 A 771.08 1,804.83 17.17 COMET 2023-A1 A CARMX 2021-2 A3 TEXAS INSTRUMENTS INC CORP NOTE (CALLABL NAROT 2021-A A3 1,955.00 33.08 DCENT 2023-A2 A 1,437.92 1,010.63 715.42 COMET 2022-A3 A HDMOT 2023-A A3 BACCT 2023-A2 A2 747.00 GMCAR 2021-4 A3 32.52 GMCAR 2022-4 A3 1,104.58 1,442.67 7,312.50 47.27 HAROT 2023-3 A3 BRISTOL-MYERS SQUIBB CO CORP NOTES (CALL HAROT 2021-4 A3 HAROT 2023-4 A3 401.63 JPMORGAN CHASE & CO CORP NOTES (CALLABLE 2,270.63 27© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 2/25/2024 2/28/2024 2/29/2024 3/1/2024 3/1/2024 3/1/2024 3/1/2024 3/1/2024 3/1/2024 3/1/2024 3/1/2024 3/1/2024 3/1/2024 3/1/2024 3/1/2024 3/1/2024 3/1/2024 2/25/2024 2/28/2024 2/29/2024 3/1/2024 350,000.00 400,000.00 600,000.00 200,000.00 275,000.00 550,000.00 500,000.00 275,000.00 290,000.00 550,000.00 550,000.00 180,000.00 438,361.93 245,588.15 399,079.23 550,000.00 500,000.00 3135G05X7 254687FK7 91282CGP0 13063D3N6 3137HB3G7 3137BSP72 3137HAMS2 3137BNGT5 3137HBLV4 3136BQDE6 3137BXQY1 3137HB3D4 3137HAD45 3137BGK24 3137HBC69 3137F1G44 3137HAQ74 FANNIE MAE NOTES WALT DISNEY COMPANY/THE (CALLABLE) US TREASURY NOTES CA ST MUNICIPAL BONDS FHMS K511 A2 0.37% 1.75% 4.00% 4.84% 4.86% 2.65% 4.80% 2.74% 4.57% 4.19% 3.22% 5.06% 4.77% 3.06% 4.85% 3.24% 4.74% 8/25/2025 8/30/2024 2/29/2028 3/1/2027 10/1/2028 8/1/2026 9/1/2028 1/1/2026 12/1/2028 7/1/2028 3/1/2027 10/1/2028 6/1/2028 12/1/2024 5/1/2028 4/1/2027 8/1/2028 656.25 3,500.00 12,000.00 4,846.00 1,113.75 1,215.96 2,000.00 629.06 3/25/2024 3/25/2024 3/25/2024 3/25/2024 3/25/2024 3/25/2024 3/25/2024 3/25/2024 3/25/2024 3/25/2024 3/25/2024 3/25/2024 3/25/2024 FHMS K058 A2 FHMS K507 A2 FHMS K054 A2 FHMS K514 A2 1,104.90 1,920.42 1,477.67 760.35 FNA 2023-M6 A2 FHMS K064 A2 FHMS K510 A2 FHMS KJ46 A1 1,745.05 626.66FHMS K043 A2 FHMS KJ48 A1 1,615.61 1,486.38 1,975.00 FHLMC MULTIFAMILY STRUCTURED P FHMS K508 A2 28© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 3/1/2024 3/1/2024 3/1/2024 3/1/2024 3/4/2024 3/4/2024 3/4/2024 3/10/2024 3/12/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/25/2024 3/25/2024 3/25/2024 3/25/2024 3/4/2024 375,000.00 550,000.00 378,006.57 800,000.00 80,000.00 3137HAST4 3137HACX2 3137BTUM1 3137HAMH6 025816CQ0 3130AK5E2 025816CS6 771196BT8 037833DB3 89190GAC1 02582JKD1 084664CZ2 02582JJZ4 41285JAD0 254683CZ6 05522RDG0 44933LAC7 FHMS K509 A2 4.85% 4.81% 3.34% 4.65% 2.25% 0.37% 2.55% 2.13% 2.90% 0.26% 5.23% 2.30% 4.87% 5.05% 4.93% 4.79% 0.38% 9/1/2028 1,515.63 2,208.71 1,054.32 3,100.00 900.00 FHMS K505 A2 6/1/2028 FHMS K061 A2 11/1/2026 8/1/2028FHMS K506 A2 AMERICAN EXPRESS CO CORP NOTES (CALLABLE FEDERAL HOME LOAN BANK NOTES AMERICAN EXPRESS CO CORP NOTES (CALLABLE ROCHE HOLDINGS INC (CALLABLE) CORPORATE APPLE INC (CALLABLE) BONDS TAOT 2021-B A3 3/4/2025 3/4/2024 150,000.00 300,000.00 410,000.00 775,000.00 104,512.88 410,000.00 475,000.00 190,000.00 170,000.00 350,000.00 170,000.00 15,014.45 9/4/2025 281.25 3/4/2024 3/4/2027 3,825.00 4,370.60 11,237.50 22.64 3/10/2024 3/12/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/10/2025 9/12/2027 11/17/2025 9/15/2028 3/15/2027 5/15/2028 12/15/2027 6/15/2028 5/15/2028 9/15/2025 AMXCA 2023-3 A 1,786.92 5,462.50 771.08 BERKSHIRE HATHAWAY CORP NOTES (CALLABLE) AMXCA 2023-1 A HDMOT 2023-A A3 715.42 DCENT 2023-A2 A 1,437.92 678.58BACCT 2023-A1 A1 HART 2021-A A3 4.75 29© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/16/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/16/2024 325,000.00 35,191.47 650036DT0 14314QAC8 254683CP8 31680EAD3 05522RDH8 891940AC2 65480JAC4 14041NGB1 65480BAC1 161571HT4 14318MAD1 344928AD8 14041NGD7 002824BM1 254683CY9 44935FAD6 362554AC1 NY ST URBAN DEV CORP TXBL REV BONDS CARMX 2021-2 A3 0.87% 0.52% 0.58% 5.53% 4.98% 4.63% 4.46% 4.95% 0.33% 5.16% 3.97% 4.65% 4.42% 3.87% 4.31% 0.74% 0.68% 3/15/2025 2/17/2026 9/15/2026 8/15/2028 11/15/2028 9/15/2027 5/17/2027 10/15/2027 10/15/2025 9/15/2028 4/15/2027 2/15/2028 5/15/2028 9/15/2025 3/15/2028 5/15/2026 9/16/2026 1,413.75 15.25 195,000.00 350,000.00 180,000.00 245,000.00 140,000.00 245,000.00 106,746.12 405,000.00 210,000.00 130,000.00 490,000.00 225,000.00 320,000.00 46,680.68 DCENT 2021-A1 A1 94.25 FITAT 2023-1 A3 1,612.92 747.00 945.29 520.33 1,010.63 29.36 BACCT 2023-A2 A2 TAOT 2023-A A3 NAROT 2022-B A3 COMET 2022-A3 A NAROT 2021-A A3 CHAIT 2023-A1 A 1,741.50 694.75 503.75 1,804.83 4,359.38 1,149.33 28.79 CARMX 2022-3 A3 FORDO 2023-A A3 COMET 2023-A1 A ABBOTT LABORATORIES CORPORATE NOTES (CAL DCENT 2023-A1 A HART 2021-C A3 53,528.62 GMCAR 2021-4 A3 30.33 30© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon INTEREST 3/16/2024 3/18/2024 3/21/2024 3/21/2024 3/23/2024 3/29/2024 3/16/2024 3/18/2024 3/21/2024 3/21/2024 3/23/2024 3/29/2024 275,000.00 320,000.00 59,286.74 36265QAD8 43815QAC1 43815GAC3 438123AC5 3137EAEX3 17325FBB3 GMCAR 2022-4 A3 4.82% 5.41% 0.88% 5.67% 0.37% 5.80% 8/16/2027 2/18/2028 1/21/2026 6/21/2028 9/23/2025 9/29/2028 1,104.58 1,442.67 43.48 HAROT 2023-3 A3 HAROT 2021-4 A3 85,000.00 HAROT 2023-4 A3 401.63 700,000.00 750,000.00 55,591,863.39 FREDDIE MAC NOTES CITIBANK NA CORP NOTES (CALLABLE) 1,312.50 21,761.25 336,385.49Total INTEREST MATURITY 0.00 3/18/2024 3/18/2024 105,000.00 808513BN4 CHARLES SCHWAB CORP NOTES (CALLABLE)0.75%3/18/2024 105,393.75 Total MATURITY PAYDOWNS 105,000.00 105,393.75 0.00 1/1/2024 1/1/2024 1/1/2024 1/1/2024 1/15/2024 1/15/2024 1/25/2024 225.92 406.84 3137HAD45 3137BGK24 3137BTUM1 3137HBC69 89190GAC1 44933LAC7 FHMS KJ46 A1 FHMS K043 A2 FHMS K061 A2 FHMS KJ48 A1 TAOT 2021-B A3 HART 2021-A A3 4.77% 3.06% 3.34% 4.85% 0.26% 0.38% 6/1/2028 225.92 406.841/25/2024 1/25/2024 1/25/2024 1/15/2024 1/15/2024 12/1/2024 11/1/2026 5/1/2028 711.53 711.53 458.99 458.99 13,606.90 3,354.06 11/17/2025 9/15/2025 13,606.90 3,354.06 31© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon PAYDOWNS 1/15/2024 1/15/2024 1/15/2024 1/16/2024 1/21/2024 2/1/2024 1/15/2024 1/15/2024 1/15/2024 1/16/2024 1/21/2024 2/25/2024 2/25/2024 2/25/2024 2/25/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/16/2024 2/21/2024 3/25/2024 4,254.96 44935FAD6 65480BAC1 14314QAC8 362554AC1 43815GAC3 3137HBC69 3137BTUM1 3137HAD45 3137BGK24 89190GAC1 14314QAC8 65480BAC1 44933LAC7 44935FAD6 362554AC1 43815GAC3 3137BTUM1 HART 2021-C A3 NAROT 2021-A A3 CARMX 2021-2 A3 GMCAR 2021-4 A3 HAROT 2021-4 A3 FHMS KJ48 A1 0.74% 0.33% 0.52% 0.68% 0.88% 4.85% 3.34% 4.77% 3.06% 0.26% 0.52% 0.33% 0.38% 0.74% 0.68% 0.88% 3.34% 5/15/2026 10/15/2025 2/17/2026 9/16/2026 1/21/2026 5/1/2028 4,254.96 13,013.21 4,414.25 3,855.17 5,196.32 461.78 13,013.21 4,414.25 3,855.17 5,196.32 461.78 2/1/2024 713.92 FHMS K061 A2 11/1/2026 6/1/2028 713.92 2/1/2024 227.13 FHMS KJ46 A1 227.13 2/1/2024 408.25 FHMS K043 A2 12/1/2024 11/17/2025 2/17/2026 10/15/2025 9/15/2025 5/15/2026 9/16/2026 1/21/2026 11/1/2026 408.25 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/15/2024 2/16/2024 2/21/2024 3/1/2024 14,256.05 4,421.69 13,546.04 3,321.66 4,305.50 3,853.19 5,172.15 807.82 TAOT 2021-B A3 CARMX 2021-2 A3 NAROT 2021-A A3 HART 2021-A A3 HART 2021-C A3 GMCAR 2021-4 A3 HAROT 2021-4 A3 FHMS K061 A2 14,256.05 4,421.69 13,546.04 3,321.66 4,305.50 3,853.19 5,172.15 807.82 32© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon PAYDOWNS 3/1/2024 3/25/2024 3/25/2024 3/25/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/16/2024 3/21/2024 457.36 3137BGK24 3137HBC69 3137HAD45 89190GAC1 44935FAD6 44933LAC7 14314QAC8 65480BAC1 362554AC1 43815GAC3 FHMS K043 A2 3.06% 4.85% 4.77% 0.26% 0.74% 0.38% 0.52% 0.33% 0.68% 0.88% 12/1/2024 5/1/2028 457.36 3/1/2024 760.56 327.51 FHMS KJ48 A1 760.56 327.513/1/2024 FHMS KJ46 A1 6/1/2028 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/15/2024 3/16/2024 3/21/2024 12,939.42 4,104.79 3,188.02 4,151.06 12,041.14 3,870.49 4,951.91 147,785.59 TAOT 2021-B A3 HART 2021-C A3 HART 2021-A A3 CARMX 2021-2 A3 NAROT 2021-A A3 GMCAR 2021-4 A3 HAROT 2021-4 A3 11/17/2025 5/15/2026 9/15/2025 2/17/2026 10/15/2025 9/16/2026 1/21/2026 12,939.42 4,104.79 3,188.02 4,151.06 12,041.14 3,870.49 4,951.91 147,785.59Total PAYDOWNS SELL 0.00 1/2/2024 1/2/2024 1/2/2024 2/1/2024 2/2/2024 1/5/2024 350,000.00 400,000.00 350,000.00 100,000.00 635,000.00 3135G03U5 693475AV7 3130AJHU6 912828ZW3 4581X0DZ8 FANNIE MAE NOTES 0.62% 3.50% 0.50% 0.25% 0.50% 4/22/2025 1/23/2024 4/14/2025 6/30/2025 9/23/2024 332,786.08 405,737.11 332,491.25 94,483.82 618,126.29 -17,470.53 -524.001/4/2024 1/5/2024 2/8/2024 2/6/2024 PNC BANK NA CORP NOTES (CALLABLE) FEDERAL HOME LOAN BANK NOTES US TREASURY NOTES -17,459.93 -4,906.74 -17,948.09INTER-AMERICAN DEVEL BK NOTES 33© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 CITY OF LAKE ELSINORE Portfolio Activity Quarterly Portfolio Transactions Trade Date Settle Date Maturity Date Transact Amount ($) Yield at Market Realized G/L (BV)Par ($)CUSIP Security Description Coupon SELL 2/6/2024 2/21/2024 3/1/2024 3/1/2024 3/1/2024 3/1/2024 3/6/2024 3/6/2024 Total SELL 2/8/2024 2/26/2024 3/6/2024 3/6/2024 3/6/2024 3/6/2024 3/13/2024 3/13/2024 400,000.00 300,000.00 75,000.00 91282CFB2 91282CBW0 91282CBW0 254687FK7 02665WCZ2 91282CBW0 91282CCP4 91282CCP4 US TREASURY NOTES 2.75% 0.75% 0.75% 1.75% 2.40% 0.75% 0.62% 0.62% 7/31/2027 4/30/2026 4/30/2026 8/30/2024 6/27/2024 4/30/2026 7/31/2026 7/31/2026 382,460.51 277,186.43 69,509.74 3,316.96 US TREASURY NOTES -19,856.54 -3,876.32 -7,237.28 -4,060.07 -30,243.96 -7,902.13 -19,189.67 -147,358.30 US TREASURY NOTES 400,000.00 400,000.00 475,000.00 250,000.00 575,000.00 4,710,000.00 WALT DISNEY COMPANY/THE (CALLABLE) AMERICAN HONDA FINANCE CORP NOTE US TREASURY NOTES 392,759.56 397,656.00 440,228.31 228,930.29 526,539.66 4,498,895.05 US TREASURY NOTES US TREASURY NOTES 34© PFM Asset Management LLC | pfmam.com Portfolio Holdings © PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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 NOTES DTD 12/31/2019 1.750% 12/31/2024 912828YY0 912828ZW3 91282CCP4 91282CCP4 91282CCP4 91282CCP4 91282CCP4 912828U24 912828U24 912828U24 912828U24 91282CEN7 91282CFB2 91282CFB2 91282CFB2 50,000.00 50,000.00 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 8/5/2020 4/1/2021 9/1/2022 8/7/2020 4/5/2021 9/6/2022 53,441.41 0.18 49,031.25 0.72 179,007.81 3.53 819,562.50 3.04 690,468.75 2.74 295,762.70 2.94 732,343.75 2.84 1,954,066.41 3.92 907,092.77 3.96 228,144.53 4.39 8,922,578.13 3.72 1,155,421.88 3.70 373,265.62 4.44 362,329.10 3.62 565,640.63 4.30 221.15 50,586.77 49,715.07 48,757.81 47,195.31US TREASURY NOTES DTD 06/30/2020 0.250% 06/30/2025 31.59 209.48US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026 200,000.00 900,000.00 750,000.00 325,000.00 800,000.00 2,100,000.00 975,000.00 250,000.00 9,500,000.00 1,200,000.00 400,000.00 375,000.00 600,000.00 187,454.81 852,660.92 715,229.17 308,587.77 761,202.51 2,002,846.16 928,828.87 235,776.13 9,104,313.20 1,167,610.98 379,782.96 365,046.63 571,864.65 182,750.00 822,375.00 685,312.50 296,968.75 731,000.00 1,971,375.00 915,281.25 234,687.50 8,918,125.00 1,142,812.56 379,875.00 356,132.81 569,812.50 US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026 8/8/2022 8/15/2022 942.65 US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026 8/1/2022 6/2/2022 7/5/2022 8/4/2022 6/6/2022 7/8/2022 785.54 US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026 340.40 US TREASURY NOTES DTD 07/31/2021 0.625% 07/31/2026 837.91 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 12/5/2022 12/7/2022 15,923.08 7,392.86 1,895.60 72,032.97 13,870.88 1,843.41 1,728.19 2,765.11 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 1/4/2023 1/6/2023 US TREASURY NOTES DTD 11/15/2016 2.000% 11/15/2026 11/1/2022 11/4/2022 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 NOTES DTD 04/30/2022 2.750% 04/30/2027 US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027 3/2/2023 5/1/2023 7/3/2023 3/6/2023 5/5/2023 7/7/2023 US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027 US TREASURY NOTES DTD 07/31/2022 2.750% 07/31/2027 35© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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 NOTES DTD 07/31/2022 2.750% 07/31/2027 91282CFB2 91282CFZ9 91282CFZ9 91282CGP0 91282CGP0 825,000.00 1,200,000.00 1,175,000.00 600,000.00 AA+ AA+ AA+ AA+ AA+ Aaa Aaa Aaa Aaa Aaa 6/2/2023 6/6/2023 786,779.30 3.97 1,184,109.38 4.24 1,170,501.95 3.98 602,507.81 3.89 3,802.03 15,627.05 15,301.48 2,086.96 794,342.76 1,185,397.22 1,170,776.57 602,414.87 783,492.19 1,180,875.00 1,156,273.44 593,062.50 US TREASURY NOTES DTD 11/30/2022 3.875% 11/30/2027 12/1/2023 12/5/2023 US TREASURY NOTES DTD 11/30/2022 3.875% 11/30/2027 1/2/2024 2/2/2024 3/1/2024 1/5/2024 2/6/2024 3/6/2024 US TREASURY NOTES DTD 02/28/2023 4.000% 02/29/2028 US TREASURY NOTES DTD 02/28/2023 4.000% 02/29/2028 1,350,000.00 23,625,000.00 1,335,287.11 4.30 22,367,342.79 3.76 4,695.65 1,335,550.02 22,769,988.04 1,334,390.63 22,350,554.75Security Type Sub-Total Negotiable CD 162,333.99 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 11,130.00 10,230.50 21,360.50 450,000.00 450,000.00 900,000.00 453,024.61 450,175.05 903,199.66 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 0.87 299.70 350.17 125.67 60,000.00 100,000.00 325,000.00 59,490.00 99,031.00 311,987.00 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 85,000.00 AA Aa2 7/10/2020 7/16/2020 85,000.00 0.88 283.54 85,000.00 81,121.45 36© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 341271AD6 341271AD6 341271AD6 54438CYK2 65,000.00 160,000.00 85,000.00 140,000.00 AA AA Aa3 Aa3 Aa3 9/3/2020 9/16/2020 9/3/2020 9/16/2020 9/3/2020 9/16/2020 65,459.55 1.11 160,000.00 1.26 85,563.55 1.12 140,000.00 0.77 204.42 65,119.81 160,000.00 85,146.93 140,000.00 61,973.60 152,550.40 81,042.40 132,452.60 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 503.20 267.32 180.37 FL ST BOARD OF ADMIN TXBL REV BONDS DTD 09/16/2020 1.258% 07/01/2025 AA LOS ANGELES CCD, CA TXBL GO BONDS DTD 11/10/2020 0.773% 08/01/2025 AA+Aaa 10/30/2020 11/10/2020 Aa2 10/16/2020 10/29/2020SAN JUAN USD, CA TXBL GO BONDS 798306WP7 DTD 10/29/2020 0.852% 08/01/2025 130,000.00 100,000.00 85,000.00 NR AAA AA- AA- 130,000.00 0.85 100,000.00 0.63 85,000.00 0.86 200,000.00 4.85 1,536,023.10 1.58 184.60 105.00 130,000.00 100,000.00 85,000.00 123,202.30 94,499.00MN ST TXBL GO BONDS DTD 08/25/2020 0.630% 08/01/2025 60412AVJ9 13077DQD7 13063D3N6 Aaa Aa2 Aa2 8/11/2020 8/25/2020 7/9/2021 7/29/2021 3/9/2023 3/15/2023 CA ST UNIV TXBL REV BONDS DTD 07/29/2021 0.862% 11/01/2025 305.29 79,949.30 CA ST MUNICIPAL BONDS DTD 03/15/2023 4.846% 03/01/2027 200,000.00 1,535,000.00 807.67 200,000.00 1,535,266.74 201,900.00 1,479,199.053,616.95Security Type Sub-Total Joint Powers Authority CAMP Pool 221,402.57 AAAm NR 221,402.57 0.00 221,402.57 221,402.57 Security Type Sub-Total Federal Agency 221,402.57 221,402.57 0.00 221,402.57 221,402.57 FREDDIE MAC NOTES DTD 07/23/2020 0.375% 07/21/2025 3137EAEU9 3135G05X7 425,000.00 350,000.00 AA+ AA+ Aaa Aaa 7/21/2020 7/23/2020 8/25/2020 8/27/2020 422,883.50 0.48 348,362.00 0.47 309.90 131.25 424,447.67 349,541.11 400,591.40 328,539.40FANNIE MAE NOTES DTD 08/27/2020 0.375% 08/25/2025 37© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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 2,275,000.00 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 2,266,361.50 0.49 42.19 149,871.11 699,376.22 649,252.45 2,272,488.56 140,722.35 655,536.00 606,849.75 2,132,238.90 FREDDIE MAC NOTES DTD 09/25/2020 0.375% 09/23/2025 58.33 1,300.00 1,841.67 FANNIE MAE NOTES DTD 11/12/2020 0.500% 11/07/2025 Security Type Sub-Total Corporate BANK OF NY MELLON CORP NOTES (CALLABLE) 06406RAS6 210,000.00 A A1 4/19/2021 4/26/2021 209,775.30 0.54 452.08 209,994.87 209,276.13 DTD 04/26/2021 0.500% 04/26/2024 MORGAN STANLEY CORP NOTES DTD 04/28/2014 3.875% 04/29/2024 61746BDQ6 38141EC23 400,000.00 400,000.00 A-A1 A2 7/19/2019 7/23/2019 7/8/2019 7/11/2019 422,916.00 2.59 418,632.00 2.84 6,544.44 3,550.56 400,368.34 400,075.26 399,029.60 398,030.80GOLDMAN SACHS GROUP INC (CALLABLE) BONDS BBB+ 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 69371RQ66 025816CQ0 771196BT8 437076CM2 90327QD89 70,000.00 175,000.00 80,000.00 410,000.00 25,000.00 225,000.00 A A+ A2 A1 8/9/2021 8/12/2021 10/22/2020 10/29/2020 69,993.70 0.75 182,894.25 0.73 79,919.20 2.29 410,000.00 2.13 24,956.25 2.76 224,264.25 3.49 71.46 481.25 135.00 509.90 311.25 3,164.06 69,999.24 176,572.78 79,975.16 410,000.00 24,985.12 224,728.64 69,112.61 169,875.65 77,734.00 398,204.30 24,323.98 220,786.88 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 BBB+ AA A A2 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 5/23/2022 5/26/2022 HOME DEPOT INC (CALLABLE) CORPORATE NOTE DTD 03/28/2022 2.700% 04/15/2025 USAA CAPITAL CORP CORPORATE NOTES AA Aa1 DTD 05/26/2022 3.375% 05/01/2025 38© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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 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 3.46 934.38 64,994.84 230,900.52 315,000.00 474,945.39 250,000.00 49,994.78 63,721.65 220,798.80 312,241.55 452,574.78 245,273.25 48,952.00 GENERAL DYNAMICS CORP (CALLABLE) CORP NO DTD 05/11/2018 3.500% 05/15/2025 2,975.00 865.20JPMORGAN 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 1,245.56 2,722.22 507.92 NATIONAL AUSTRALIA BK/NY CORPORATE NOTES DTD 06/09/2022 3.500% 06/09/2025 Aa2 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 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 1,600.00 1,453.13 387.50 225,000.00 233,602.27 233,397.45 221,373.00 221,514.08 221,598.45 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 225,000.00 175,000.00 225,000.00 A- A- A1 A1 A2 12/1/2021 12/6/2021 2/16/2022 2/24/2022 5/17/2021 5/19/2021 225,000.00 1.53 175,000.00 2.60 224,608.50 1.19 1,099.69 466.74 977.50 225,000.00 175,000.00 224,833.69 218,758.05 170,609.43 207,778.50 JPMORGAN CHASE & CO CORP NOTES (CALLABLE DTD 02/24/2022 2.595% 02/24/2026 UNITEDHEALTH GROUP INC (CALLABLE) CORPOR A+ DTD 05/19/2021 1.150% 05/15/2026 39© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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 BMW US CAPITAL LLC (CALLABLE) CORPORATE DTD 08/12/2021 1.250% 08/12/2026 05565EBW4 14913R2U0 87612EBM7 06406RBA4 594918BY9 025816CS6 175,000.00 225,000.00 40,000.00 A A A2 A2 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 3/15/2022 3/17/2022 2/17/2023 2/22/2023 1/13/2023 1/18/2023 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 4.59 466,089.00 2.70 284,925.00 4.66 488,325.00 4.50 297.74 174,975.13 224,368.54 39,961.86 160,143.90 207,113.18 37,120.44 CATERPILLAR FINL SERVICE CORPORATE NOTES DTD 01/10/2022 1.700% 01/08/2027 881.88 164.67TARGET CORP CORP NOTES (CALLABLE) DTD 01/24/2022 1.950% 01/15/2027 A A2 BANK OF NY MELLON CORP (CALLABLE) CORPOR DTD 01/26/2022 2.050% 01/26/2027 475,000.00 750,000.00 300,000.00 475,000.00 300,000.00 500,000.00 A A1 1,758.16 3,781.25 573.75 474,404.53 729,460.02 283,848.34 469,733.52 288,987.91 491,522.33 439,585.43 727,118.25 279,772.80 446,393.13 285,588.90 486,069.50 MICROSOFT CORP CORP NOTES (CALLABLE) DTD 02/06/2017 3.300% 02/06/2027 AAA BBB+ AA A- Aaa A2AMERICAN EXPRESS CO CORP NOTES (CALLABLE DTD 03/04/2022 2.550% 03/04/2027 BERKSHIRE HATHAWAY CORP NOTES 084664CZ2 (CALLABLE) DTD 03/15/2022 2.300% 03/15/2027 Aa2 A2 485.56 CHARLES SCHWAB CORP NOTES (CALLABLE) DTD 09/24/2021 3.300% 04/01/2027 808513BW4 63254ABE7 4,950.00 6,074.44NATIONAL AUSTRALIA BK/NY CORPORATE NOTES AA-Aa2 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 1,186.18 3,805.99 749,762.55 375,985.61 733,814.18 372,993.00TOYOTA 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 2/17/2023 2/22/2023 329,189.00 4.76 1,785.00 333,831.54 331,640.05 DTD 02/07/2018 3.400% 02/07/2028 40© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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 TEXAS INSTRUMENTS INC CORP NOTE (CALLABL DTD 11/18/2022 4.600% 02/15/2028 882508BV5 110122DE5 539830BZ1 24422EXB0 17325FBB3 85,000.00 375,000.00 60,000.00 A+ A Aa3 A2 5/11/2023 5/18/2023 3/9/2023 3/13/2023 5/23/2023 5/25/2023 7/21/2023 7/25/2023 10/2/2023 10/4/2023 87,043.40 4.04 358,263.75 4.93 59,892.00 4.49 377,865.00 4.78 746,280.00 5.92 339,547.80 4.63 419,853.00 4.86 49,909.50 4.74 725,355.25 4.69 12,576,427.60 3.39 499.61 86,660.64 361,833.53 59,910.54 84,904.63 363,573.38 59,317.44 BRISTOL-MYERS SQUIBB CO CORP NOTES (CALL DTD 07/15/2020 3.900% 02/20/2028 1,665.63 1,008.67 3,970.31 241.79 LOCKHEED MARTIN CORP NOTES (CALLABLE) DTD 05/25/2023 4.450% 05/15/2028 A-A2 JOHN DEERE CAPITAL CORP CORPORATE NOTES DTD 07/14/2023 4.950% 07/14/2028 375,000.00 750,000.00 340,000.00 420,000.00 50,000.00 A A1 377,469.01 746,602.44 339,559.56 419,855.51 49,910.29 377,242.88 776,103.00 337,439.46 422,352.84 50,027.95 CITIBANK NA CORP NOTES (CALLABLE) DTD 09/29/2023 5.803% 09/29/2028 A+ A Aa3 A2AIR PRODUCTS & CHEMICALS CORP 009158BH8 NOTES (CAL DTD 02/08/2024 4.600% 02/08/2029 2/6/2024 2/8/2024 2,302.56 1,980.42 110.97 CISCO SYSTEMS INC CORPORATE NOTES (CALLA DTD 02/26/2024 4.850% 02/26/2029 17275RBR2 09290DAA9 09290DAA9 AA- AA- AA- A1 2/21/2024 2/26/2024 3/5/2024 3/14/2024 3/6/2024 3/14/2024 BLACKROCK FUNDING INC CORPORATE NOTES (C DTD 03/14/2024 4.700% 03/14/2029 Aa3 Aa3BLACKROCK FUNDING INC CORPORATE NOTES (C DTD 03/14/2024 4.700% 03/14/2029 725,000.00 12,595,000.00 1,609.10 69,588.52 725,352.10 12,503,363.85 725,405.28 12,275,287.11Security Type Sub-Total Agency CMBS FHMS K043 A2 DTD 03/01/2015 3.062% 12/01/2024 3137BGK24 3137BNGT5 245,130.79 275,000.00 AA+ AA+ Aaa Aaa 3/19/2020 3/25/2020 4/11/2023 4/14/2023 257,272.42 1.95 263,613.28 4.37 625.49 629.06 246,861.26 267,661.13 240,982.61 264,859.26FHMS K054 A2 DTD 04/20/2016 2.745% 01/01/2026 41© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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 3137BXQY1 550,000.00 377,198.75 550,000.00 550,000.00 398,318.67 550,000.00 438,034.42 550,000.00 800,000.00 500,000.00 500,000.00 375,000.00 180,000.00 275,000.00 290,000.00 7,403,682.63 AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ AA+ Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa Aaa 4/6/2023 4/12/2023 5/19/2023 5/24/2023 8/16/2023 8/18/2023 6/8/2023 6/13/2023 12/6/2023 12/14/2023 7/13/2023 7/20/2023 7/19/2023 7/27/2023 7/18/2023 7/31/2023 9/7/2023 9/14/2023 526,839.84 4.02 365,588.11 4.31 518,804.69 4.98 527,033.20 4.44 398,315.48 4.86 555,493.40 4.59 438,023.50 4.78 540,675.78 4.58 788,165.60 4.99 489,032.00 5.26 494,023.50 5.07 363,043.88 5.60 179,479.62 5.14 274,209.93 4.93 292,899.71 4.34 7,272,513.94 4.67 1,215.96 1,052.07 1,477.67 1,486.38 1,612.53 2,208.71 1,743.74 1,920.42 3,100.00 1,975.00 2,000.00 1,515.63 760.35 533,651.65 368,479.22 524,289.85 531,881.38 398,315.68 554,702.45 438,025.04 541,947.03 789,353.85 489,953.52 494,573.68 363,957.47 179,513.98 274,256.40 292,820.06 7,290,243.65 523,543.16 364,213.29 528,109.84 527,722.34 397,821.80 551,600.91 435,604.46 539,097.82 797,536.43 500,056.14 501,499.82 376,815.15 182,466.18 276,557.75 288,417.12 7,296,904.08 FHMS K061 A2 DTD 01/30/2017 3.347% 11/01/2026 FHMS K064 A2 DTD 05/15/2017 3.224% 03/01/2027 FHLMC MULTIFAMILY STRUCTURED P 3137F1G44 DTD 07/01/2017 3.243% 04/01/2027 FHMS KJ48 A1 DTD 12/01/2023 4.858% 05/01/2028 3137HBC69 3137HACX2 3137HAD45 3136BQDE6 3137HAMH6 3137HAQ74 3137HAMS2 3137HAST4 3137HB3D4 3137HB3G7 3137HBLV4 FHMS K505 A2 DTD 07/01/2023 4.819% 06/01/2028 FHMS KJ46 A1 DTD 07/01/2023 4.777% 06/01/2028 FNA 2023-M6 A2 DTD 07/01/2023 4.190% 07/01/2028 FHMS K506 A2 DTD 09/01/2023 4.650% 08/01/2028 FHMS K508 A2 DTD 10/01/2023 4.740% 08/01/2028 Aaa 10/11/2023 10/19/2023 FHMS K507 A2 DTD 09/01/2023 4.800% 09/01/2028 Aaa 9/20/2023 9/28/2023 FHMS K509 A2 DTD 10/01/2023 4.850% 09/01/2028 Aaa 10/25/2023 10/31/2023 Aaa 11/14/2023 11/21/2023 Aaa 11/28/2023 12/7/2023 FHMS K510 A2 DTD 11/01/2023 5.069% 10/01/2028 FHMS K511 A2 DTD 12/01/2023 4.860% 10/01/2028 1,113.75 1,104.90 25,541.66 FHMS K514 A2 DTD 02/01/2024 4.572% 12/01/2028 Aaa 2/1/2024 2/8/2024 Security Type Sub-Total 42© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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 HART 2021-A A3 DTD 04/28/2021 0.380% 09/15/2025 44933LAC7 65480BAC1 89190GAC1 43815GAC3 14314QAC8 44935FAD6 254683CP8 362554AC1 14318MAD1 65480JAC4 36265QAD8 891940AC2 14041NGB1 41285JAD0 344928AD8 43815QAC1 254683CY9 11,826.43 94,704.98 91,573.46 54,334.83 31,040.41 42,575.89 195,000.00 49,658.13 210,000.00 140,000.00 275,000.00 245,000.00 245,000.00 170,000.00 130,000.00 320,000.00 320,000.00 AAA AAA AAA NR NR Aaa NR 4/20/2021 4/28/2021 6/15/2021 6/23/2021 6/8/2021 6/14/2021 11,825.19 0.38 94,703.37 0.33 91,563.59 0.26 54,323.38 0.89 31,033.71 0.52 42,566.38 0.75 194,958.25 0.58 49,656.86 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 4.65 319,934.02 5.42 319,981.44 4.31 2.00 11,826.02 94,704.41 91,569.83 54,329.86 31,037.80 42,571.40 194,979.36 49,657.49 209,996.82 139,980.46 274,968.61 244,999.91 244,972.52 169,986.81 129,989.23 319,942.99 319,985.11 11,727.79 93,081.99 90,008.67 53,027.20 30,532.38 41,637.85 190,678.18 48,218.90 207,059.77 138,660.42 273,623.98 242,771.53 244,125.64 169,588.21 128,866.95 321,281.54 315,819.84 NAROT 2021-A A3 DTD 06/23/2021 0.330% 10/15/2025 13.89 10.58TAOT 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 13.28 CARMX 2021-2 A3 DTD 04/21/2021 0.520% 02/17/2026 AAA AAA AAA AAA AAA AAA AAA AAA AAA NR NR NR 4/13/2021 4/21/2021 11/9/2021 11/17/2021 9/20/2021 9/27/2021 7.17 HART 2021-C A3 DTD 11/17/2021 0.740% 05/15/2026 14.00 DCENT 2021-A1 A1 DTD 09/27/2021 0.580% 09/15/2026 Aaa 50.27 GMCAR 2021-4 A3 DTD 10/21/2021 0.680% 09/16/2026 Aaa 10/13/2021 10/21/2021 14.07 CARMX 2022-3 A3 DTD 07/20/2022 3.970% 04/15/2027 NR Aaa NR NR NR Aaa NR NR Aaa 7/12/2022 7/20/2022 9/20/2022 9/28/2022 10/4/2022 10/12/2022 1/24/2023 1/30/2023 10/27/2022 11/3/2022 2/13/2023 2/23/2023 3/28/2023 3/31/2023 8/15/2023 8/22/2023 4/4/2023 4/11/2023 370.53 277.51 552.29 504.16 539.00 381.56 268.67 625.16 612.98 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 AAA AAA NR HAROT 2023-3 A3 DTD 08/22/2023 5.410% 02/18/2028 DCENT 2023-A1 A DTD 04/11/2023 4.310% 03/15/2028 43© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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 AMXCA 2023-1 A DTD 06/14/2023 4.870% 05/15/2028 02582JJZ4 05522RDG0 14041NGD7 254683CZ6 438123AC5 31680EAD3 161571HT4 02582JKD1 05522RDH8 190,000.00 170,000.00 490,000.00 350,000.00 85,000.00 AAA AAA AAA AAA NR NR NR 6/7/2023 6/14/2023 6/8/2023 6/16/2023 5/17/2023 5/24/2023 6/21/2023 6/28/2023 11/1/2023 11/8/2023 8/15/2023 8/23/2023 9/7/2023 9/15/2023 9/12/2023 9/19/2023 12/7/2023 12/14/2023 189,983.15 4.87 169,961.51 4.79 489,887.64 4.43 349,952.72 4.93 84,985.03 5.67 349,978.30 5.53 404,887.73 5.17 409,981.67 5.23 179,975.83 4.98 5,254,991.53 4.42 411.24 189,985.89 169,967.73 489,906.98 349,959.97 84,986.17 187,724.45 169,121.34 483,720.90 349,334.97 86,063.25 BACCT 2023-A1 A1 DTD 06/16/2023 4.790% 05/15/2028 361.91 962.58COMET 2023-A1 A DTD 05/24/2023 4.420% 05/15/2028 NR DCENT 2023-A2 A DTD 06/28/2023 4.930% 06/15/2028 Aaa Aaa Aaa NR 766.89 HAROT 2023-4 A3 DTD 11/08/2023 5.670% 06/21/2028 133.88 FITAT 2023-1 A3 DTD 08/23/2023 5.530% 08/15/2028 350,000.00 405,000.00 410,000.00 180,000.00 5,255,714.13 AAA AAA AAA NR 860.22 349,980.95 404,898.62 409,983.41 179,977.13 5,255,145.48 352,304.33 407,885.50 413,490.95 180,618.93 5,230,975.46 CHAIT 2023-A1 A DTD 09/15/2023 5.160% 09/15/2028 928.80 AMXCA 2023-3 A DTD 09/19/2023 5.230% 09/15/2028 NR 953.02 BACCT 2023-A2 A2 DTD 12/14/2023 4.980% 11/15/2028 Aaa 398.40 10,034.06Security Type Sub-Total Managed Account Sub Total Securities Sub Total Accrued Interest 53,589,396.76 $53,810,799.33 52,173,660.46 3.70 294,317.35 52,526,496.32 $52,747,898.89 51,668,359.01 $51,889,761.58 $294,317.35 $52,395,063.03 3.70%$294,317.35 Total Investments $52,184,078.93 44© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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. 45© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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. 46© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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. 47© PFM Asset Management LLC | pfmam.com For the Quarter Ended March 31, 2024 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. 48© PFM Asset Management LLC | pfmam.com