HomeMy WebLinkAboutStaff Report 2307-1783CITY OF PALO ALTO
CITY COUNCIL
Special Meeting
Monday, August 07, 2023
Council Chambers & Hybrid
5:30 PM
Agenda Item
18.Investment Activity Report for the Fourth Quarter, Fiscal Year 2023
City Council
Staff Report
From: City Manager
Report Type: INFORMATION REPORTS
Lead Department: Administrative Services
Meeting Date: August 7, 2023
Report #:2307-1783
TITLE
Investment Activity Report for the Fourth Quarter, Fiscal Year 2023
EXECUTIVE SUMMARY
The City’s Investment Policy1 (Policy) requires that staff report to Council quarterly on the City’s
portfolio composition and 1performance compared to the Council-adopted Policy; discuss overall
compliance with the City’s Investment Policy; and provide recommendations, if any, for Policy
changes. In addition, staff provides a detailed list of all securities and reports on the City’s ability
to meet expenditure requirements over the next six months. This report is to inform Council of
the City’s investment portfolio performance as of the fourth quarter ending June 30, 2023 and to
disclose staff’s cash flow projections for the next six months. The portfolio details, activities, and
performance are discussed below, and additional information is provided in the attachments.
The report includes a discussion of the sale of investments prior to maturity, which occurred in
July 2023 to potentially mitigate higher than expected cash flow needs under a worst-case
projection model; sale of the securities resulted in a principal gain of $42,405.
During the fourth quarter staff complied with all aspects of the Investment Policy. Staff expect
that the City will have sufficient funds or liquidity to meet expenditure requirements for the next
six months.
ANALYSIS
The City’s investment portfolio is summarized in Graph 1 and detailed in the Investments by Fund
Report (Attachment B). The Investments by Fund Report groups the portfolio’s securities by
investment type and includes details of the investment issuer, date of maturity, current market
value, the book and face (par) value, and the weighted average maturity of each type of
investment and of the entire portfolio.
1 City of Palo Alto website, Administrative Services Department, Money Management &
Treasury:https://www.cityofpaloalto.org/files/assets/public/administrative-services/investment-policies/adopted-
investment-policy-2022-23.pdf
Due to rounding, the above graph's percentage total is greater than 100 percent.
The par value of the City’s portfolio is $623.2 million; in comparison, last quarter it was $599.6
million. The $23.6 million portfolio growth since the last quarter results from expected and typical
timing of cash flows and a legal resolution relating to the City’s Electric Utility. The federal
government (via Bureau of Reclamation) agreed and refunded Palo Alto $23.9 million for
overcharging on electricity for hydroelectric power for 28 years. Other factors include property
tax receipts including Excess ERAF (Education Revenue Augmentation Funds) totaling $28.8
million. These sources are partially offset by higher expenditures like Wastewater Treatment
primary sedimentation tank Rehabilitation & equipment room electrical upgrade and secondary
treatment upgrades projects. Though some of these expenditures are reimbursed by loans such
as from the State Revolving Loan Funds, there is a timing difference when the funds are spent
and when loan reimbursements are received. This timing difference is expected to impact and
constrain the City’s cash position and will be monitored closely as capital work continues to
increase at the Wastewater Treatment Plant.
The portfolio consists of $49.6 million in liquid accounts and $573.6 million in various investment
types as detailed in the following Table 1. The Investment Policy requires that at least $50 million
be maintained in securities maturing in less than two years. The portfolio includes $109.0 million
in investments maturing in less than two years, comprising 17.5% of the City’s investment
portfolio. In addition, the Investment Policy allows up to 30% of the portfolio to be invested in
securities with maturities beyond five years; actual at the end of the second quarter is 28.1% of
the portfolio.
U.S. Treasury
1.3%
U.S. Agency
33.4%
U.S.
Municipal/St ate
37.8%
Ne gotiable CD
7.7%
U.S. Corporate
4.7%
Supranat ional
7.1%
L iquid Accts.
8.0%
Graph 1: Investments by Type -$623.2M
(P ar Valu e)
The current market value of the portfolio is 91.9% of the book value. The market value of
securities fluctuates, depending on how interest rates perform. When interest rates decrease,
the market value of the securities in the City’s portfolio will likely increase; likewise, when interest
rates increase, the market value of the securities will likely decrease. Understanding and showing
market values is not only a reporting requirement, but essential to knowing the principal risks in
actively buying and selling securities. The City’s practice is to buy and hold investments until they
mature so changes in market price do not typically impact the City’s investment principal. Should
the City find necessity to sell securities prior to maturity, such as in July 2023, securities are
analyzed to ensure the City mitigates or eliminate any loss to the portfolio as a result of securities
sold. As a result, there is minimal risk of principal loss due to the declining market value. The
market valuation is provided by U.S. Bank, which is the City’s safekeeping agent. The average life
to maturity of the investment portfolio is 3.57 years compared to 3.80 years last quarter.
The Investment Policy states “Should the ratio of the market value of the portfolio to the book
value of the portfolio fall below 95%, the Administrative Services Department will report this fact
to the City Council within a reasonable time frame and evaluate whether there is any risk of
holding any of the securities to maturity.” In the prior four quarters the market value fell below
95%; it was 93.5% in the fourth quarter of fiscal year 2022 (CMR 139982), 89.7% in the first (CMR
2 City Council, August 8, 2022 Item #9, CMR 13998: https://www.cityofpaloalto.org/files/assets/public/agendas-
minutes-reports/agendas-minutes/city-council-agendas-minutes/2022/20220808/20220808pccsm-amended-rev-
final1.pdf#page=134
140013), 90.7% in the second (CMR 2301-08654), and 89.6% in the third quarters of fiscal year
2023 (CMR 2212-05205).
The market rate slightly improved this third quarter to 91.9% of book value. Though the total
portfolio’s market value is below book value, $38.7 million in par value of securities are at or
above market value. Interest rates on new investments have fluctuated so the expectation is the
market value of the portfolio is expected to stay in the current range in the coming quarters. To
minimize risk of loss for investment principal due to lower market values, the City’s investment
practice is to buy and hold investments to maturity and, if needed, only sell security that are
above the market value.
Matured Investments and Purchases During the Fourth Quarter
During the fourth quarter, $11.4 million of securities with an average yield of 3.1% matured.
During the same period, per the following Table 2, securities totaling $20.0 million with an
average yield of 5.2% were purchased. As expected, as interest rates rose on new investments,
the City’s portfolio’s average yield has begun to gradually rise. In the prior two fiscal years or
during the height of the COVID-19 economic closures, the portfolio’s interest rate had steadily
declined. The City’s short-term money market and pool account increased by $15.1 million
compared to the third quarter of Fiscal Year 2022. Staff continually monitors the City’s short-
term cash flow needs and adjusts liquid funds on a daily basis as needed to meet them.
3 City Council, November 7, 2022 Item #13, CMR 14001:
https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/agendas-minutes/city-council-
agendas-minutes/2022/20221107/20221107pccsm-amended-linked-q.a-2.pdf#page=188
4 City Council, February 13, 2023, Item #10, CMR 2301-0865:
https://cityofpaloalto.primegov.com/Portal/Meeting?meetingTemplateId=1073
5 City Council, May 8, 2023, Item # 9, CMR 2212-0520:
https://cityofpaloalto.primegov.com/Portal/Meeting?meetingTemplateId=11197
Availability of Funds for the Next Six Months
Normally, the flow of revenues from the City’s utility billings and General Fund sources is enough
to provide funds for ongoing expenditures in those respective funds. Projections indicate that
for the City’s cashflow, an overall decline in the portfolio of $26.1 million is expected over the
coming six months due to routine business activities. This reflects expected receipts of $330.3
million and expenditures of $356.4 million over the next six months.
The expected decline in the portfolio is attributable to pre-paying a portion of the Fiscal Year
2024 Public Employers’ Retirement System’s (PERS) employer contribution of $41.6 million,
representing the City’s unfunded accrued liability (UAL) lump-sum prepayment for FY 2024. By
prepaying PERS instead of making payments with each payroll period, the City is expected to save
$1.4 million in pension expense; the savings will be offset by the loss of approximately $0.8
million in interest income in the City’s investment portfolio. This results in net citywide savings
of $0.6 million because PERS has the ability to earn interest earlier and at a higher rate than the
City could realize. This prepayment is made annually, however, had this prepayment not been
made there would have been a $15.4 million increase in the portfolio.
As of June 30, 2023, the City had $49.6 million deposited in the Local Agency Investment Fund
(LAIF) and a money market account that could be withdrawn on a daily basis. Though as of writing
of this report (July 20th), after the large payments discussed above, the $49.6 million has declined
to $22.5 million which includes $7.2 million is investment securities sold prior to maturity. In
addition, investments totaling $24.7 million will mature between July 1, 2023 and December 31,
2023. Based on the above, staff expect that the City will have sufficient funds or liquidity to meet
expenditure requirements for the next six months.
Sale of Investments Prior to Maturity (July 2023)
As mentioned earlier in this report, a primary objective of the City’s Investment Policy is safety
with preservation of capital being the approach in the execution of investment activities. The sale
of securities is permitted in the Investment Policy (see p. 8) and was authorized by the Director
of Administrative Services to maintain required liquid cash for daily City operations.
In late June 2023, the City’s Assistant City Manager/Administrative Services Director approved
the Treasury’s Division’s recommendation to sell some of the City’s portfolio investments (prior
to maturity). This recommendation was based on a conservative approach to cash balances
acknowledging higher cash volatility seen in the prior months’ expenditures. Accounts Payable
expenditures for April, May and first half of June, were 30%, 26%, and 26%, respectively, higher
over the prior year. This translates in $14.3 million in higher cash outflow over two and a half
months. If this or a higher pattern of cash outlay continued, under the worst-case cash forecast
model for July, an elevated risk was identified that there might not be sufficient cash to cover all
liquidity needs. To mitigate this risk, the security sales were estimated to net $14.2 million in
additional cash. A key criterion in the securities selected to be sold was the security sales would
have a net market gain when sold.
The final security sales was less than estimated, it netted $7.2 million in cash (17 investment
securities), with a net gain on of $42,405 due to the securities being sold at a higher price than
its value on the City’s books.
Compliance with City Investment Policy
During the fourth quarter, staff complied with all aspects of the Investment Policy. Attachment
C lists the major restrictions in the City’s Investment Policy compared with the portfolio’s actual
performance.
Investment Yields
Interest income on an accrual basis for the fourth quarter was $3.5 million; compared to the first,
second, and third quarters this was $1.3 million, $0.9 million and $0.4 higher than the prior
quarters due to new higher yielding investments in the portfolio. As of June 30, 2023, the yield
to maturity of the City’s portfolio was 2.31%; in the prior quarter it was 2.18%. In the fourth
quarter, LAIF’s average yield was 3.01% while the average yield on the two-year and five-year
Treasury bonds was approximately 4.26% and 3.69%, respectively. In comparison, in the prior
quarter LAIF had 2.63% yield and the two-year and five-year Treasury bonds yields were higher
at 4.35% and 3.80%.
Historically, the City’s portfolio yield has outperformed the two-year and five-year Treasury bond
rates and did so again several years ago; this is an expected occurrence during economic
downturns. However, during economic recovery periods, interest rates rise, and the City’s
portfolio yield is expected to be lower, which is the current financial environment. As the City’s
laddered portfolio investments mature in the next year or two, funds will continue to be
reinvested and trends will follow the economic patterns. Graph 2 shows the City’s yields and
interest earnings for the past 21+ years.
City’s portfolio duration is 3.57 years.
Yield Trends
The Federal Open Market Committee (FOMC), since March 2020, has raised the federal funds
rate ten times totaling 5% with the first occurring on March 16, 2022. Prior to this the rate was
near zero. To mitigate the persistent elevated inflation rate from the peak of 9.1% in June to a
low 3% in June 2023 with a 2% target. The primary cause of declining inflation rate is falling
energy and transportation prices.
The expectation is FOMC will continue to do additional federal funds rate interest rate
increases in 2023 but at a slower pace. This is due to the inflation rate still elevated above the
target rate. The FOMC states “The U.S. banking system is sound and resilient. Tighter credit
conditions for households and businesses are likely to weigh on economic activity, hiring, and
inflation.” FOMC’s are still firmly focused on further bringing down inflation.
The following tables show the U.S. inflation and unemployment rates and the U.S. Gross
Domestic Product (GDP) past and recent trends.
5.88%
5.00%
4.17%
4.54%
City of Palo Alto
2.71%
1.80%1.93%1.66%
1.97%
2.31%
3.65%
1.41%
0.81%0.25%
2 Yr. Treasury 4.39%
4.26%
4.43%4.39%
4.98%
1.10%
5-Yr. Treasury
2.88%
2.47%
0.27%
3.23%
4.00%3.69%
1.44%
5.25%
0.23%
LAIF
1.29%
2.63%
3.01%
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
$4.5
$5.0
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
Int. Earnings (Millions )Yields
Fiscal Year Quarters
Graph 2: Yields and Interest Earnings
Graph 3: U.S. Inflation Rate
The annual inflation rate in the U.S. slowed to 3% in June 2023, the lowest since March 2021
which is below market forecasts.
Graph 4: U.S. Unemployment Rate
The unemployment rate in the U.S. edged down to 3.6% in June 2023. The jobless rate has
fluctuated between 3.4 percent and 3.7 percent since March 2022, indicating a consistently
tight labor market.
Graph 5: U.S. Gross Domestic Product (GDP) Annual Growth Rate
The Gross Domestic Product (GDP) in the United States growth accelerated to 1.8 percent year-
on-year during the first (calendar) quarter of 2023, up from 0.9 percent in the previous period.
Funds Held by the City or Managed Under Contract
Attachment A is a consolidated report of all City investment funds, including those not held
directly in the investment portfolio. These include cash in the City’s regular bank account with
US Bank and Wells Fargo. A description of the City’s banking relationships can be found in City
Council Staff Report ID # 78586 and ID # 114027. The bond proceeds, reserves, and debt service
payments being held by the City’s fiscal agents are subject to the requirements of the underlying
debt indenture. The trustees for the bond funds are U.S. Bank and California Asset Management
Program (CAMP). Bond funds with U.S. Bank are invested in federal agency and money market
mutual funds that consist exclusively of U.S. Treasury securities. Bond funds in CAMP are invested
in banker’s acceptance notes, certificates of deposit, commercial paper, federal agency
securities, and repurchase agreements. The most recent data on funds held by the fiscal agent is
as of June 30, 2023.
In January 2017, the City established a Section 115 Irrevocable Trust (Public Agencies Post-
Employment Benefits Trust) administered by Public Agency Retirement Services (PARS). This
6 City Council, April 11, 2017, under “Additional Information”, CMR 7858:
https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/reports/city-manager-reports-
cmrs/year-archive/2017/7858.pdf
7 City Council, September 21, 2020 Item #2, CMR 11402:
https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/reports/city-manager-reports-
cmrs/year-archive/2020-2/id-11402.pdf
fund is not governed by the City’s Investment Policy; however, it is discussed in this report to
present the full picture of the City’s investments. It is the City’s intent to prefund pension costs
and began to address the Net Pension Liabilities (NPL) as calculated by Governmental Accounting
Standards Board Pronouncement No. 68 (GASB 68). The Section 115 Trust offered by PARS has
five portfolios from which to choose in making investments of City funds. The City has revised
the selected portfolio from “Moderately Conservative” the second most conservative, to
“Balanced” a slightly more aggressive asset mix, in alignment with the City Council direction in
January 2023. The City Council adopted revisions to the Long Term Liabilities Policy (formerly
Pension Policy) including this change in asset allocation. This change has been implemented with
the City’s provider. Additional information on this trust can be found in City Council Staff Report
ID # 75538. Through June 30, 2023, principal investment contributions of $54.4 million made
over time since May 2017, has increased to $58.4 million or by $4.0 million and the net return
for one and five years has been 3.6% and 3.8% respectively. Since inception, $4.5 million net
earnings have been realized with $0.5 million in administrative expenses.
FISCAL/RESOURCE IMPACT
This is an information report.
STAKEHOLDER ENGAGEMENT
Staff works internally and with external parties (U.S. Bank’s custodial, U.S. Bank’s bonds, Wells
Fargo and U.S. Bank’s banking, California Asset Management Program (CAMP), and Public
Agency Retirement Services (PARS)) statements to prepare this report
ENVIRONMENTAL REVIEW
This item is not a project as defined by the California Environment Quality Act because the
Investment Activity Report is for informational purposes only with no action required by the
Council.
ATTACHMENTS
Attachment A: Consolidated Report of Cash Management
Attachment B: Investment Portfolio
Attachment C: Investment Portfolio Compliance
APPROVED BY:
Kiely Nose, Assistant City Manager
8 City Council, January 23, 2017 Item #5, CMR 7553:
https://www.cityofpaloalto.org/files/assets/public/agendas-minutes-reports/reports/city-manager-reports-
cmrs/year-archive/2017/7553.pdf
Book Value Market Value
City Investment Portfolio (see Attachment B)621,016,760$ 570,690,716$
Other Funds Held by the City
Cash with Wells Fargo Bank 315,319 315,319
(includes general and imprest accounts)
Cash with US Bank 906,507 906,507
Total - Other Funds Held By City 1,221,826 1,221,826
Funds Under Management of Third Party Trustees *
Debt Service Proceeds
US Bank Trust Services **
1999 Utility Revenue Bonds
Debt Service Fund 1,790 1,790
2009 Water Revenue Bonds (Build America Bonds)
Debt Service and Reserve Funds 2,503,316 2,503,316
2010 & 2013 General Obligation (Library) Bond
Debt Service and Escrow Funds 2,859,483 2,859,483
2011 Utility Revenue Refunding Bonds
Debt Service and Reserve Funds 687,697 687,697
2013 General Obligation (Library) Bond
Escrow Funds 2,427,926 2,427,926
2018 Capital Improvement (Golf Course & 2002B COP Refinance)
(Taxable- Green Bond) Certificates of Participation
Debt Service and Cost of Issuance Funds 331 331
2019 California Avenue Parking Garage Certificates of Participation
(Tax-Exempt and Taxable Bonds)
Construction and Cost of Issuance Funds 1,321 1,321
2021 Public Safety Building Certificates of Participation
Construction Debt Svc, Capitalized Interest, and Cost of Issuan 12,571,705 12,571,705
2022A & B General Obligation (Library) Bond
Cost of Issuance Funds 4,344 4,344
California Asset Management Program (CAMP) ***
2012 University Ave. Parking Refunding Bonds
Reserve Fund 2,821,062 2,821,062
2013 General Obligation (Library) Bond
Reserve Fund 261,131 261,131
Public Agencies Post-Employment Benefits Trust ****
Public Agency Retirement Services (PARS) 58,353,819 58,353,819
Total Under Trustee Management 82,493,924 82,493,924
GRAND TOTAL 704,732,510$ 654,406,466$
* These funds are subject to the requirements of the underlying debt indenture.
** U.S. Bank investments are in money market mutual funds that exclusively invest in U.S. Treasury securities.
*** CAMP investments are in money market mutual fund which invest in bankers acceptance, certificate of deposit,
commercial paper, federal agency securities, and repurchase agreements.
**** PARS investments are in moderately conservative index plus funds
Attachment A
Fourth Quarter, Fiscal Year 2022-23
(Unaudited)
Consolidated Report of Cash Management
City of Palo Alto Cash and Investments
City of Palo Alto City of Palo Alto
Administration Svcs. Dept.
250 Hamilton Ave., 4th Floor
Palo Alto, CA 94301
(650)329-2362
June 30, 2023
Fund ALL - Portfolio Listings
Investments by Fund
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket ValueCUSIPInvestment # Issuer
Purchase
Date Book Value
YTM
360
YTM
365
LAIF & Fidelity Cash Accounts
Fidelity Investments158 18,773,237.04SYS158 14.98007/01/2020 18,773,237.04 4.911 4.98018,773,237.04
Local Agency Investment Fund159 30,793,152.72SYS159 13.26007/01/2020 30,377,763.22 3.215 3.26030,793,152.72
Subtotal and Average 49,566,389.76 49,566,389.76 49,151,000.26 3.858 3.911 1
Negotiable Certificates of Deposits
Achieve Federal Credit Union2831 NCD 249,000.0000453NAA9 02/17/2026 9624.65002/17/2023 244,386.03 4.589 4.653249,000.00
Affinity Plus Fed Credit Union2773 NCD 249,000.0000833AAB6 12/27/2023 1795.10012/27/2022 248,758.47 5.029 5.099249,000.00
Alaska USA Federal CU2850 NCD 249,000.00011852AK6 03/22/2028 1,7264.85003/22/2023 244,490.61 4.789 4.855249,000.00
Alliant Credit Union2781 NCD 249,000.0001882MAB8 12/30/2027 1,6434.95012/30/2022 245,568.78 4.884 4.952249,000.00
Alpine Bank1525 NCD 245,000.0002082CBG4 08/16/2023 462.40002/16/2016 244,115.55 2.367 2.400245,000.00
Amalgamated Fin Corp Bank2867 NCD 249,000.00022663BS6 04/14/2028 1,7495.00004/14/2023 245,730.63 4.937 5.005249,000.00
Aneca Federal Credit Union2298 NCD 249,000.00034577AN6 03/20/2025 6281.10003/20/2020 231,281.16 1.085 1.100249,000.00
A+ Federal Creit Union2806 NCD 249,000.0000224TAL0 01/27/2025 5764.70001/27/2023 246,198.75 4.641 4.705249,000.00
Arsenal Credit Union2801 NCD 249,000.0004288LAA6 01/21/2025 5705.10001/20/2023 247,722.63 5.030 5.100249,000.00
American State Bank OSCE1805 NCD 245,000.00029733BX9 05/30/2024 3342.30005/30/2017 238,115.50 2.270 2.301245,000.00
Austin Telco Fed. Credit Union2732 NCD 249,000.00052392CC9 11/27/2026 1,2455.05011/28/2022 246,544.86 4.984 5.053249,000.00
American Express Centurion Bk2729 NCD 249,000.0002589AEG3 11/16/2027 1,5995.00011/16/2022 246,084.21 4.931 5.000249,000.00
Banner Capital Bank2453 NCD 249,000.0006654HAA6 11/28/2025 8810.45011/27/2020 221,129.43 0.493 0.500248,699.82
Bank of Wisconsin Dells2455 NCD 249,000.00065847EH4 07/28/2025 7581.05011/23/2020 227,670.66 0.542 0.549251,551.94
Baxter Credit Union2730 NCD 249,000.0007181JAU8 11/23/2026 1,2415.00011/22/2022 246,158.91 4.940 5.009249,000.00
Beal Bank - Plano, TX2668 NCD 249,000.0007371AYT4 02/24/2027 1,3342.05003/02/2022 221,998.44 2.053 2.081248,726.24
Texas Exchange Bank2346 NCD 249,000.0088241THJ2 06/13/2025 7131.00006/02/2020 228,641.76 0.986 1.000249,000.00
Century Next Bank2074 NCD 245,000.00156634AY3 08/30/2024 4261.70008/30/2019 234,553.20 1.678 1.701245,000.00
BankUnited NA2474 NCD 249,000.00066519QC6 01/22/2026 9360.55001/22/2021 220,250.46 0.592 0.600248,680.91
Blue Foundry Bank2755 NCD 249,000.0009549TAB1 03/19/2024 2624.70012/19/2022 247,867.05 4.633 4.697249,000.00
BMO Harris Bank2480 NCD 249,000.0005600XBX7 10/27/2028 1,9451.00001/27/2021 200,332.95 1.019 1.034248,572.17
BMW Bank of North America2448 NCD 249,000.0005580AXU3 11/20/2025 8730.50011/20/2020 221,841.57 0.493 0.500249,000.00
Bank of Old Monroe2899 NCD 249,000.00064236BQ4 05/24/2028 1,7895.00005/24/2023 246,143.97 4.937 5.006249,000.00
BOKF NA Bank2876 NCD 249,000.0005572YGM8 04/26/2027 1,3954.95004/26/2023 245,758.02 4.886 4.953249,000.00
Bankwell Bank2908 NCD 249,000.0006654BFE6 05/27/2025 6965.20005/24/2023 247,991.55 5.132 5.203249,000.00
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
Attachment B
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 2
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Negotiable Certificates of Deposits
Bank of Baroda2898 NCD 249,000.0006063HQL0 11/15/2024 5035.05005/15/2023 247,642.95249,000.00
Bridgewater Bank Bloom MN2900 NCD 249,000.00108622NQ0 05/26/2028 1,7915.00005/26/2023 246,146.46 4.937 5.006249,000.00
Beal Bank USA - Las Vegas, NV2669 NCD 249,000.0007371CH69 02/24/2027 1,3342.05003/02/2022 221,998.44 2.053 2.081248,726.24
California Credit Union2772 NCD 249,000.00130162AN0 12/27/2023 1795.00012/27/2022 248,472.12 4.931 5.000249,000.00
Encore Bank2343 NCD 249,000.0029260MBH7 05/21/2027 1,4201.15005/21/2020 212,501.58 1.134 1.150249,000.00
CBC Federal Credit Union Bank2878 NCD 249,000.0012481GAS6 11/22/2023 1440.50004/14/2023 244,283.94 4.932 5.000244,689.20
First Carolina Bank2389 NCD 248,000.0031944MBB0 08/20/2025 7810.45008/20/2020 223,172.72 0.444 0.450248,000.00
Celtic Bank2063 NCD 245,000.0015118RRH2 08/30/2024 4261.85008/30/2019 234,967.25 1.826 1.852245,000.00
Central State Bank IOWA2324 NCD 249,000.0015523RCP9 03/27/2025 6351.00003/27/2020 230,683.56 1.189 1.206248,134.09
Centris Fed Credit Union Bank2903 NCD 249,000.0015634VAA0 11/25/2024 5135.15005/24/2023 248,663.85 5.079 5.150249,000.00
City Federal Credit Union2785 NCD 249,000.0017783PAH4 01/18/2024 2014.90001/18/2023 248,444.73 4.834 4.901249,000.00
CIBM Bank2904 NCD 249,000.0012545JBB0 05/17/2028 1,7825.00005/17/2023 246,146.46 4.937 5.006249,000.00
Cinfed Fed Credtit Union Bank2504 NCD 249,000.0017248MAC1 03/04/2027 1,3420.65003/04/2021 210,038.97 0.691 0.701248,542.46
Citadel Federal Credit Union2267 NCD 245,000.0017286TAG0 02/27/2025 6071.65002/27/2020 230,302.45 1.668 1.691244,837.20
Clearpath Federal Credit Union2881 NCD 249,000.0018507MAA9 04/28/2025 6675.15004/26/2023 247,784.88 5.086 5.157249,000.00
Comerica Bank Texas2856 NCD 249,000.00200339FB0 09/30/2024 4575.25003/30/2023 248,327.70 5.179 5.251249,000.00
Enerbank USA2215 NCD 245,000.0029278TMR8 01/29/2025 5781.80001/29/2020 231,478.45 1.779 1.803245,000.00
Connexus Credit Union2643 NCD 249,000.0020825WAR1 12/23/2026 1,2711.25012/23/2021 216,537.87 1.273 1.291248,653.36
Capital One Bank USA NA2089 NCD 245,000.0014042TCP0 09/05/2024 4321.90009/05/2019 235,075.05 1.873 1.900245,000.00
Capital One Bank USA NA2609 NCD 249,000.0014042RQB0 11/17/2026 1,2351.10011/17/2021 216,455.70 1.084 1.100249,000.00
Communitywide Fed. Cr. Union2756 NCD 249,000.0020416TAW2 06/21/2024 3565.00012/21/2022 247,889.46 4.935 5.004249,000.00
Cooper Choice Network CU2834 NCD 249,000.0021686QAE9 02/23/2024 2375.10002/23/2023 248,631.48 5.029 5.099249,000.00
Corning Federal Credit Union2860 NCD 249,000.0021933PAA0 04/04/2024 2785.35004/04/2023 248,977.59 5.281 5.354249,000.00
County Schools FCU2695 NCD 249,000.0022258JAB7 09/27/2027 1,5494.40009/30/2022 240,419.46 4.341 4.402249,000.00
Covantage Credit Union2901 NCD 249,000.0022282XAA8 02/20/2024 2345.25005/19/2023 248,873.01 5.178 5.250249,000.00
Crescent Bank & Trust2296 NCD 248,000.00225645DN7 03/20/2025 6281.10003/20/2020 230,352.32 1.085 1.100248,000.00
Cross River Bank2875 NCD 249,000.00227563CF8 04/14/2026 1,0185.10004/14/2023 247,085.19 5.033 5.103249,000.00
Carter Federal Credit Union2870 NCD 249,000.0014622LAK8 04/25/2025 6644.75004/25/2023 246,066.78 4.688 4.753249,000.00
Cental Valley Community Bank2862 NCD 249,000.0015568PAK2 03/31/2027 1,3695.30003/31/2023 248,663.85 5.231 5.304249,000.00
Country Club Bank2477 NCD 249,000.00222327AD0 01/29/2030 2,4041.10001/29/2021 192,793.23 1.154 1.170247,907.34
City National Bank2809 NCD 249,000.00178180GV1 01/27/2025 5764.50001/25/2023 245,479.14 4.438 4.500249,000.00
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 3
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Negotiable Certificates of Deposits
Decorah Bank Trust Company2690 NCD 249,000.00243594AR9 09/23/2027 1,5453.70009/23/2022 233,664.09 3.651 3.701249,000.00
Delta Natl Bank & TR2670 NCD 249,000.0024773RCR4 02/25/2027 1,3352.00003/09/2022 221,572.65 1.975 2.003249,000.00
Discover Bank / Delaware1956 NCD 245,000.00254673VJ2 10/24/2023 1153.35010/24/2018 243,461.40 3.304 3.350245,000.00
The District Fed Cr Union2778 NCD 249,000.0088340AAA9 12/23/2024 5415.15012/22/2022 247,944.24 5.079 5.150249,000.00
Eagle Cmty Credit Union2770 NCD 249,000.0026948GAF1 12/26/2023 1785.00012/23/2022 248,638.95 4.932 5.000249,000.00
Eaglemark Savings Bank2545 NCD 249,000.0027004PBV4 07/07/2026 1,1020.85007/07/2021 217,830.18 0.919 0.932248,398.91
Enterprise Bank2897 NCD 249,000.0029367RMN3 05/19/2028 1,7844.25005/19/2023 238,019.10 4.196 4.255249,000.00
Farmers & Merchant State Bank2486 NCD 249,000.00308682BM4 02/12/2029 2,0531.00002/12/2021 198,228.90 1.037 1.052248,300.21
Flagstar Bank FSB2414 NCD 249,000.0033847E4E4 09/30/2024 4570.40009/30/2020 233,885.70 0.394 0.400249,000.00
First Bank of the Lake2877 NCD 249,000.0031925YAE2 04/25/2028 1,7604.90004/25/2023 245,083.23 4.838 4.905249,000.00
Poppy Bank2285 NCD 249,000.0073319FAF6 03/18/2025 6261.10003/18/2020 231,335.94 1.085 1.100249,000.00
First-Citizens Bank2907 NCD 249,000.00319477AV7 05/19/2025 6885.15005/19/2023 247,772.43249,000.00
1st Financial Bank2390 NCD 248,000.0032022RNT0 08/19/2025 7800.45008/19/2020 223,204.96 0.444 0.450248,000.00
First Farmers Bank & Trust2076 NCD 245,000.00320165JK0 09/04/2024 4311.75009/04/2019 234,621.80 1.727 1.751245,000.00
Farmers Insurance Group CU2479 NCD 249,000.0030960QAK3 01/27/2026 9410.50001/27/2021 219,682.74 0.543 0.550248,679.20
First Class Community CU2759 NCD 249,000.0031976UAA6 12/16/2024 5345.05012/16/2022 247,598.13 4.985 5.054249,000.00
First Source Federal Cr Union2812 NCD 249,000.0033651FAF6 01/31/2024 2144.85001/31/2023 248,327.70 4.781 4.847249,000.00
First Oklahoma Bank2451 NCD 249,000.00335857CK2 11/30/2026 1,2480.65011/30/2020 212,411.94 0.691 0.701248,574.51
Farmers &Merchants Bank2644 NCD 249,000.00307811DM8 01/22/2030 2,3971.60001/14/2022 199,927.08 1.630 1.653248,185.18
First National Bank of America2465 NCD 249,000.0032110YRQ0 12/31/2026 1,2790.60012/31/2020 211,224.21 0.625 0.633248,709.29
FNB Bank Inc.1863 NCD 245,000.00330459CB2 10/13/2023 1042.25010/13/2017 242,883.20 2.220 2.251245,000.00
Freedom First Fed CU Bank2868 NCD 249,000.0035638CAE9 10/15/2024 4724.85004/14/2023 247,095.15 4.783 4.850249,000.00
Freedom Bank of Virginia2858 NCD 249,000.0035633MCZ3 03/30/2028 1,7345.40003/30/2023 248,982.57 5.326 5.400249,000.00
First Foundation Bank2861 NCD 249,000.0032026UG83 12/30/2024 5485.00003/31/2023 247,388.97 4.931 5.000249,000.00
First Technology Federal Credi2845 NCD 249,000.0033715LET3 09/24/2024 4515.35003/24/2023 248,648.91 5.300 5.374249,000.00
First Community Credit Union2554 NCD 249,000.0031986JAD3 02/26/2027 1,3360.85007/28/2021 211,866.63 0.892 0.905248,510.55
Firstier Bank2061 NCD 245,000.0033766LAJ7 08/23/2024 4191.95008/23/2019 235,420.50 1.925 1.952245,000.00
Gesa Credit Union2456 NCD 249,000.0037424PAC8 11/30/2027 1,6130.80011/30/2020 204,971.82 0.825 0.836248,607.16
Grant County Bank West V.2042 NCD 245,000.00387625AA4 05/08/2024 3122.55005/08/2019 239,156.75 2.513 2.548245,000.00
Grow Financial Fed CU2846 NCD 249,000.0039981MAC6 03/25/2024 2685.35003/24/2023 249,002.49 5.276 5.350249,000.00
Greenwood Muni Fed Cr Union2811 NCD 249,000.0039729LAC5 10/27/2023 1184.75001/27/2023 248,559.27 4.688 4.753249,000.00
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 4
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Negotiable Certificates of Deposits
Greenwood Credit Union2725 NCD 249,000.00397129AJ6 05/28/2024 3324.95011/28/2022 247,924.32 4.877 4.945249,000.00
Haddon Savings Bank2447 NCD 207,000.00404730DA8 10/20/2025 8420.35011/16/2020 184,511.52 0.491 0.498206,128.05
Bank Hapoalim BM2457 NCD 249,000.0006251A2Q2 12/15/2025 8980.50012/14/2020 221,114.49 0.543 0.550248,694.03
Harborstone Credit Union2776 NCD 249,000.0041166MAF2 03/27/2024 2705.10012/27/2022 248,546.82 5.027 5.097249,000.00
Huntington National Bank2891 NCD 249,000.00446438SB0 05/05/2025 6744.80005/05/2023 246,248.55 4.734 4.800249,000.00
Healthcare Systems FCU2816 NCD 249,000.0042228LAM3 02/01/2027 1,3114.25001/30/2023 240,053.43 4.193 4.251249,000.00
IC Federal Credit Union2743 NCD 249,000.0044931EAD3 06/10/2024 3455.00012/09/2022 247,959.18 4.931 5.000249,000.00
INS Bank2757 NCD 249,000.0045776NFE1 12/14/2027 1,6274.90012/14/2022 245,167.89 4.835 4.902249,000.00
Insight Credit Union2836 NCD 249,000.0045791JAC0 02/27/2025 6075.10002/27/2023 247,667.85 5.036 5.105249,000.00
Interstate Credit Union2771 NCD 249,000.00460807AB6 12/26/2023 1785.00012/23/2022 248,638.95 4.932 5.000249,000.00
Inst. for Sav in Newburyport2556 NCD 249,000.0045780PAQ8 07/29/2026 1,1240.90007/29/2021 217,309.77 0.888 0.900249,000.00
Jonesboro State Bank2452 NCD 249,000.0048040PJL0 11/26/2027 1,6090.75011/27/2020 204,563.46 0.790 0.801248,451.18
Kansas State Bank Manhattan1798 NCD 245,000.0050116CAX7 05/31/2024 3352.50005/31/2017 238,551.60 2.465 2.500245,000.00
Kembra Financial Credit Union2731 NCD 249,000.0048836LAV4 11/25/2024 5135.15011/23/2022 247,969.14 5.083 5.154249,000.00
Key Bank2885 NCD 249,000.0049306SK54 05/01/2024 3055.00004/28/2023 248,173.32 4.931 5.000249,000.00
Knox TVA Empl Credit Union2140 NCD 248,000.00499724AF9 10/31/2023 1223.35010/24/2019 246,392.96 2.210 2.241248,878.00
Valley Strong Credit Union2748 NCD 249,000.00920133AJ4 12/13/2024 5315.10012/14/2022 247,769.94 5.038 5.108249,000.00
Lafayette Federal Credit Union2879 NCD 249,000.0050625LBG7 05/27/2025 6963.10004/14/2023 238,524.57 4.931 5.000240,455.71
Lakeside Bank1686 NCD 245,000.0051210SLR6 09/18/2023 791.80009/16/2016 243,167.40 1.775 1.800245,000.00
Legacy Bank & Trust Company2469 NCD 249,000.0052470QAN4 12/21/2028 2,0000.85012/30/2020 197,372.34 0.889 0.901248,316.17
Local Gov't Fed. Credit Union2823 NCD 249,000.0053955LAB3 02/12/2024 2264.90002/10/2023 248,357.58 4.830 4.897249,000.00
Liberty Federal Credit Union2741 NCD 249,000.0053052LAD1 12/05/2023 1575.00012/05/2022 248,683.77 4.931 5.000249,000.00
Liberty First Credit Union2803 NCD 249,000.00530520AC9 01/27/2026 9414.50001/27/2023 243,574.29 4.442 4.503249,000.00
Live Oak Banking Company2599 NCD 249,000.00538036SS4 10/18/2027 1,5701.10010/18/2021 208,823.85 1.135 1.151248,464.72
Machias Savings Bank2819 NCD 249,000.00554479EK7 08/09/2024 4054.60002/09/2023 246,659.40 4.532 4.595249,000.00
Malaga Bank FSB2402 NCD 249,000.0056102AAQ9 06/30/2025 7300.40008/31/2020 225,327.57 0.394 0.400249,000.00
Meritrust Federal Credit Union2672 NCD 249,000.0059001PAP4 03/10/2026 9830.55003/07/2022 220,863.00 1.904 1.930240,097.10
Medallion Bank - Salt Lake2010 NCD 245,000.0058404DDB4 01/03/2024 1863.30001/10/2019 242,542.65 3.254 3.299245,000.00
Merchants State Bank2059 NCD 245,000.00589227AG2 08/30/2024 4261.80008/30/2019 234,932.95 1.775 1.800245,000.00
Merrick Bank2610 NCD 249,000.0059013KPS9 05/19/2026 1,0531.10011/19/2021 220,432.23 1.152 1.168248,520.96
Minwest Bank MV2478 NCD 249,000.0060425SJQ3 01/29/2029 2,0391.00001/28/2021 198,415.65 1.024 1.039248,478.91
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 5
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Negotiable Certificates of Deposits
Maine Savings Credit Union2144 NCD 245,000.00560507AN5 11/08/2024 4961.90011/08/2019 233,627.10 1.875 1.902245,000.00
Mainstreet Bank2038 NCD 245,000.0056065GAG3 04/26/2024 3002.60004/26/2019 239,509.55 2.567 2.602245,000.00
Mountain America FD Credit Uni2719 NCD 249,000.0062384RAR7 05/09/2025 6784.85011/09/2022 246,457.71 4.825 4.892248,814.89
Morgan Stanley Bank NA2815 NCD 249,000.0061690UY20 02/02/2026 9474.25002/02/2023 242,102.70 4.191 4.250249,000.00
Morgan Stanley Bank NA2849 NCD 249,000.0061768EQV8 03/24/2025 6325.25003/23/2023 248,215.65 5.178 5.250249,000.00
Municipal Trust and Savings1800 NCD 245,000.00625925AP7 05/02/2024 3062.35005/22/2017 238,882.35 2.317 2.349245,000.00
Nano Banc2896 NCD 249,000.0063008MAW1 05/17/2028 1,7824.90005/17/2023 245,075.76 4.838 4.905249,000.00
New Brunswick Postal FCU2760 NCD 249,000.00642858AA2 12/15/2025 8985.00012/14/2022 246,659.40 4.931 5.000249,000.00
Customers Bank2848 NCD 249,000.0023204HNL8 09/23/2024 4505.30003/22/2023 248,482.08 5.227 5.300249,000.00
Nicolet National Bank2906 NCB 249,000.00654062LK2 12/02/2024 5205.15005/30/2023 247,956.69 5.082 5.153249,000.00
Northeast Community Bank2854 NCD 249,000.00664122AS7 03/28/2028 1,7325.45003/28/2023 248,972.61 5.375 5.450249,000.00
New Valley Bank & Trust2872 NCD 249,000.0064907LAN3 06/17/2025 7175.00004/17/2023 247,052.82 4.939 5.007249,000.00
Numerica Credit Union1991 NCD 245,000.0067054NAN3 11/28/2023 1503.55011/28/2018 243,260.50 3.503 3.551245,000.00
Oahu Fed Credit Union Bank2905 NCD 249,000.0067117NAA6 11/18/2024 5065.15005/16/2023 247,981.59 5.082 5.153249,000.00
Oklahomas Credit Union2751 NCD 249,000.0067886WAD9 12/16/2024 5345.00012/14/2022 247,416.36 4.938 5.006249,000.00
Oregon State Credit Union2765 NCD 249,000.0068609EAC5 03/21/2024 2645.05012/21/2022 248,474.61 4.978 5.047249,000.00
Pacific Western Bank2420 NCD 249,000.0069506YSA8 09/30/2025 8220.45009/30/2020 223,076.61 0.443 0.450249,000.00
Parkside Credit Union2825 NCD 249,000.0070146NAA5 02/21/2024 2355.00002/21/2023 248,479.59 4.930 4.999249,000.00
Pathfinder Bank2429 NCD 249,000.0070320KAR2 10/14/2025 8360.50010/13/2020 222,718.05 0.533 0.540248,772.12
People's Bank2468 NCD 249,000.00710665GD6 12/31/2029 2,3750.90012/30/2020 190,631.91 0.967 0.981247,740.99
Ponce De Leon Federal Bank2686 NCD 249,000.00732329BD8 09/15/2027 1,5373.50009/15/2022 232,040.61 3.453 3.501249,000.00
Pentagon Fed Cred Union2565 NCD 249,000.0070962LAE2 09/01/2026 1,1580.85009/01/2021 216,156.90 0.889 0.901248,605.23
Preferred Bank LA California2047 NCD 245,000.00740367HP5 08/16/2024 4122.00008/16/2019 235,709.60 1.972 2.000245,000.00
Pacific Alliance Bank2852 NCD 249,000.00693963AE0 03/27/2025 6355.15003/27/2023 247,817.25 5.087 5.157249,000.00
Pitney Bowes Bank, Inc.2873 NCD 249,000.00724468AC7 04/13/2028 1,7484.35004/14/2023 239,266.59 4.290 4.350249,000.00
People Bank / Coldwater OH2853 NCD 249,000.00710275AD0 03/30/2027 1,3684.80003/30/2023 244,440.81 4.735 4.800249,000.00
Pony Express Bank2488 NCD 249,000.00732770BJ0 02/25/2030 2,4311.00002/24/2021 191,388.87 1.055 1.070247,895.40
Premier Community Bank2895 NCD 249,000.0074048CAT9 06/14/2027 1,4444.90005/12/2023 245,755.53 4.838 4.905249,000.00
People's Security Bank & Trust2863 NCD 249,000.00712303BF2 03/30/2028 1,7345.45003/30/2023 249,012.45 5.377 5.452249,000.00
Public Service Credit Union2796 NCD 249,000.00744562AS8 01/20/2028 1,6644.75001/20/2023 243,574.29 4.687 4.752249,000.00
Raiz Federal Credit Union2798 NCD 249,000.0075102EAC2 07/25/2024 3904.90001/25/2023 247,506.00 4.828 4.895249,000.00
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 6
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Negotiable Certificates of Deposits
RiverBank2892 NCD 249,000.0076857RCF9 05/12/2028 1,7774.95005/12/2023 245,613.60 4.888 4.955249,000.00
Rayond James Bank NA2188 NCD 245,000.0075472RAU5 12/30/2024 5481.85012/30/2019 232,296.75 1.824 1.850245,000.00
Rogue Credit Union2717 NCD 249,000.0077535MAC7 11/10/2025 8634.90011/09/2022 246,756.51 4.868 4.935248,804.11
Sallie Mae Bank2102 NCD 245,000.007954504D4 09/18/2024 4451.90009/18/2019 234,788.40 1.873 1.900245,000.00
Sawyer Savings Bank2710 NCD 249,000.00805508BT4 10/28/2027 1,5804.90010/28/2022 245,140.50 4.877 4.945248,569.09
State Bank of India2403 NCD 249,000.00856285UJ8 09/04/2025 7960.50009/04/2020 224,104.98 0.493 0.500249,000.00
Southern Bank2882 NCD 249,000.0084229LBV3 04/28/2028 1,7634.00004/28/2023 235,556.49 3.945 4.000249,000.00
Charles Schwab Bank2799 NCD 249,000.0015987UAJ7 01/18/2024 2014.65001/19/2023 247,951.71 4.586 4.650249,000.00
Select Bank Forest VA2857 NCD 249,000.0081618LAE7 03/31/2028 1,7355.40003/31/2023 248,128.50 5.332 5.406249,000.00
San Francisco Credit Union2297 NCD 249,000.0079772FAF3 03/27/2025 6351.10003/27/2020 231,096.90 1.085 1.100249,000.00
Sharonview Fed Credit Union2718 NCD 249,000.00819866BR4 10/31/2025 8535.00010/31/2022 246,754.02 4.966 5.035248,806.21
Signature Federal Credit Union2804 NCD 249,000.0082671DAB3 01/31/2028 1,6754.40001/31/2023 239,988.69 4.341 4.401249,000.00
Synovus Bank2886 NCD 249,000.0087164DVY3 07/29/2024 3945.00004/28/2023 247,757.49 4.945 5.013249,000.00
Sunwest Bank2491 NCD 249,000.0086804DCQ9 02/17/2028 1,6920.80002/17/2021 203,203.92 0.861 0.873248,175.85
Space Age Federal Credit Union2807 NCD 249,000.0084611JAB9 01/26/2024 2095.05001/27/2023 248,624.01 4.985 5.054249,000.00
SPCO Credit Union2827 NCD 249,000.0078472EAC8 02/28/2028 1,7034.35002/27/2023 239,383.62 4.290 4.349249,000.00
First Source Bank2754 NCD 249,000.0033646CNJ9 06/16/2028 1,8125.05012/16/2022 246,699.24 4.980 5.050249,000.00
Southeast Bank2821 NCD 249,000.0084133PFL7 02/06/2025 5864.55002/06/2023 245,611.11 4.487 4.550249,000.00
ST Lawrence Federal CU2728 NCD 249,000.00791125AB3 11/22/2023 1444.95011/22/2022 248,661.36 4.881 4.949249,000.00
Southwest Financial Fed. Credi2333 NCD 249,000.0084485EAG2 03/28/2024 2711.15003/31/2020 241,380.60 1.134 1.150249,000.00
Southwest Heritage Cr. Union2890 NCD 249,000.0084503PAD2 05/10/2024 3145.10005/12/2023 248,347.62 5.031 5.101249,000.00
Synchrony Bank2563 NCD 249,000.0087165FZN7 08/20/2026 1,1460.90008/20/2021 217,085.67 0.887 0.900249,000.00
Technology Credit Union2797 NCD 249,000.0087868YAH6 07/21/2025 7515.10001/19/2023 247,463.67 5.031 5.100249,000.00
Texas Bank Henderson2464 NCD 249,000.00882214AA7 12/23/2025 9060.45012/23/2020 220,242.99 0.483 0.490248,752.91
Third Federal Savings and Loan2157 NCD 245,000.0088413QCK2 11/25/2024 5131.95011/25/2019 233,472.75 1.923 1.950245,000.00
Toyota Financial Savings Bank2551 NCD 249,000.0089235MLC3 07/15/2026 1,1100.95007/15/2021 218,318.22 0.936 0.950249,000.00
Trustone Fin. Credit Union2745 NCD 249,000.0089841MAM9 12/14/2023 1665.00012/14/2022 248,663.85 4.931 5.000249,000.00
Texas Trust Credit Union Bank2869 NCD 200,000.0088283MBR4 10/12/2023 1030.45004/06/2023 197,278.00 5.183 5.255197,329.63
Ufirst Federal Credit Union2832 NCD 249,000.00902684AB5 08/25/2025 7864.85002/24/2023 246,136.50 4.787 4.854249,000.00
Uinta Bank1639 NCD 245,000.00903572BC8 12/26/2023 1781.70006/24/2016 241,018.75 1.676 1.700245,000.00
Umassfive College Fed Cr Union2742 NCD 249,000.0090407LAD5 03/08/2024 2514.95012/09/2022 247,994.04 4.879 4.947249,000.00
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 7
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Negotiable Certificates of Deposits
Uncle Credit Union2786 NCD 249,000.0090307LAA2 01/17/2024 2004.85001/17/2023 248,379.99 4.783 4.849249,000.00
United Heritage Credit Union2711 NCD 249,000.0091334AAC7 04/28/2025 6674.60010/28/2022 245,401.95 4.539 4.602249,000.00
Greenstate Credit Union2552 NCD 249,000.0039573LBM9 07/21/2026 1,1160.95007/21/2021 217,857.57 0.937 0.950249,000.00
USAlliance Federal Credit Unio2325 NCD 249,000.0090352RAU9 03/31/2025 6391.15003/31/2020 231,403.17 1.155 1.171248,912.86
USF Federal Credit Union2546 NCD 249,000.0090353EAR4 07/15/2031 2,9361.75007/15/2021 193,121.91 1.801 1.826247,598.73
Vystar Credit Union2136 NCD 245,000.0092891CCE0 12/11/2023 1633.65010/18/2019 243,218.85 2.170 2.200246,515.68
Washington Federal2049 NCD 245,000.00938828BJ8 08/23/2024 4192.05008/23/2019 235,692.45 2.024 2.052245,000.00
Wahoo State Bank2894 NCD 249,000.00930584AC1 08/15/2024 4115.00005/15/2023 247,712.67 4.950 5.019249,000.00
Washington State Emp CU2780 NCD 249,000.00939769AC9 12/29/2023 1815.00012/29/2022 248,633.97 4.931 4.999249,000.00
Western State Bank2342 NCD 248,000.0095960NKE6 11/13/2025 8661.05005/13/2020 224,157.28 1.035 1.050248,000.00
Wells Fargo Bank2843 NCD 249,000.00949764AF1 03/17/2025 6255.25003/17/2023 248,235.57 5.185 5.257249,000.00
Wyoming Bank & Trust2446 NCD 249,000.0098321PAJ9 11/28/2025 8810.50011/27/2020 221,415.78 0.515 0.522248,819.89
Workers Fed Credit Union2749 NCD 249,000.0098138MAX8 12/14/2027 1,6275.10012/14/2022 247,142.46 5.032 5.102249,000.00
West Town Bank and Trust2855 NCD 249,000.00956310BM7 03/28/2028 1,7325.45003/28/2023 249,107.07 5.381 5.456249,000.00
Subtotal and Average 48,063,284.40 48,102,000.00 45,813,047.55 3.295 3.341 871
Corporate Medium Term Bonds
Apple, Inc.2053 MTN 1,500,000.00037833CU2 05/11/2024 3152.85008/06/2019 1,467,660.00 1.998 2.0251,509,760.93
Apple, Inc.2401 MTN 1,500,000.00037833DF4 01/13/2025 5622.75008/28/2020 1,446,285.00 0.620 0.6281,548,048.18
Apple, Inc.2489 MTN 700,000.00037833EB2 02/08/2026 9530.70002/08/2021 631,029.00 0.684 0.694700,104.79
Apple, Inc.2667 MTN 750,000.00037833CJ7 02/09/2027 1,3193.35002/23/2022 720,195.00 2.115 2.145779,289.65
Alphabet (Google) Inc.2507 MTN 200,000.0002079KAH0 08/15/2025 7760.45003/01/2021 183,094.00 0.668 0.678199,048.30
Alphabet (Google) Inc.2675 MTN 1,000,000.0002079KAC1 08/15/2026 1,1411.99803/14/2022 925,580.00 2.197 2.228993,189.59
Alphabet (Google) Inc.2689 MTN 1,000,000.0002079KAJ6 08/15/2027 1,5060.80009/14/2022 865,730.00 3.442 3.489898,911.70
Alphabet (Google) Inc.2837 MTN 2,800,000.0002079KAJ6 08/15/2027 1,5060.80002/15/2023 2,424,044.00 3.964 4.0202,463,095.36
Johnson & Johnson2466 MTN 2,000,000.00478160CN2 09/01/2025 7930.55012/23/2020 1,827,940.00 0.479 0.4862,002,732.45
Johnson & Johnson2508 MTN 2,000,000.00478160BY9 03/01/2026 9742.45003/01/2021 1,888,820.00 0.812 0.8232,080,656.96
Johnson & Johnson2509 MTN 1,000,000.00478160BY9 03/01/2026 9742.45003/01/2021 944,410.00 0.812 0.8241,040,318.14
Microsoft Corporation2212 MTN 1,800,000.00594918BX1 02/06/2024 2202.87501/22/2020 1,772,784.00 1.727 1.7511,811,152.20
Microsoft Corporation2450 MTN 2,920,000.00594918BJ2 11/03/2025 8563.12511/18/2020 2,810,762.80 0.572 0.5803,082,587.04
Microsoft Corporation2506 MTN 180,000.00594918BJ2 11/03/2025 8563.12503/01/2021 173,266.20 0.753 0.763189,234.84
Stanford University2182 MTN 1,000,000.00525555AB4 02/01/2024 2156.87512/12/2019 1,009,000.00 1.934 1.9601,027,400.13
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 8
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Corporate Medium Term Bonds
Stanford University2648 MTN 1,500,000.0085440KAC8 06/01/2027 1,4311.28901/07/2022 1,320,735.00 1.479 1.5001,488,130.99
Stanford University2658 MTN 500,000.0085440KAC8 06/01/2027 1,4311.28902/01/2022 440,245.00 1.849 1.875489,125.24
Stanford University2709 MTN 1,530,000.0085440KAC8 06/01/2027 1,4311.28910/19/2022 1,347,149.70 4.487 4.5501,355,503.66
Stanford University2761 MTN 450,000.0085440KAC8 06/01/2027 1,4311.28912/12/2022 396,220.50 4.142 4.200403,660.74
Yale University2376 MTN 2,000,000.0098459LAA1 04/15/2025 6540.87307/01/2020 1,852,860.00 0.616 0.6252,008,561.76
Yale University2511 MTN 3,000,000.0098459LAA1 04/15/2025 6540.87303/01/2021 2,779,290.00 0.638 0.6463,011,716.98
Subtotal and Average 29,082,229.63 29,330,000.00 27,227,100.20 1.576 1.597 896
Federal Agency Bonds
Federal Agricultural Mortgage1428 404,000.0031315PL23 03/27/2024 2703.33001/09/2015 397,414.80 2.540 2.575405,991.87
Federal Agricultural Mortgage1580 474,000.0031315PEM7 08/04/2025 7654.35004/08/2016 469,354.80 2.296 2.328491,923.74
Federal Agricultural Mortgage1595 1,500,000.0031315P2J7 05/01/2024 3053.30004/21/2016 1,472,430.00 2.084 2.1121,513,580.97
Federal Agricultural Mortgage1604 1,500,000.0031315P2J7 05/01/2024 3053.30004/26/2016 1,472,430.00 2.159 2.1891,512,662.39
Federal Agricultural Mortgage1710 1,500,000.0031315PRA9 02/03/2026 9484.81010/18/2016 1,505,820.00 2.131 2.1601,592,740.27
Federal Agricultural Mortgage1867 1,000,000.003132X0WL1 08/23/2024 4192.25010/06/2017 965,010.00 2.332 2.365998,789.12
Federal Agricultural Mortgage1893 1,000,000.003130H0AU7 08/01/2024 3972.62501/09/2018 970,350.00 2.546 2.5811,000,427.65
Federal Agricultural Mortgage1901 1,500,000.003130H0AU7 08/01/2024 3972.62501/11/2018 1,455,525.00 2.623 2.6601,499,479.10
Federal Agricultural Mortgage1999 549,000.0031315P4B2 01/30/2024 2133.46012/14/2018 542,417.49 3.018 3.060550,170.10
Federal Agricultural Mortgage2034 1,000,000.0031422BEJ5 04/09/2024 2832.35004/09/2019 975,710.00 2.365 2.398999,649.41
Federal Agricultural Mortgage2035 678,000.0031315PCY3 11/20/2024 5085.25004/08/2019 677,755.92 2.420 2.454702,400.34
Federal Agricultural Mortgage2098 550,000.0031315PEM7 08/04/2025 7654.35009/09/2019 544,610.00 1.659 1.683579,087.75
Federal Agricultural Mortgage2301 1,569,000.0031315PB99 11/19/2027 1,6022.85003/11/2020 1,474,844.31 1.050 1.0641,686,574.88
Federal Agricultural Mortgage2340 Call 2,000,000.0031422BZS2 05/13/2030 2,5081.50005/13/2020 1,649,020.00 1.479 1.5002,000,000.00
Federal Agricultural Mortgage2366 Call 1,750,000.0031422BF54 06/24/2030 2,5501.40006/24/2020 1,426,390.00 1.380 1.4001,750,000.00
Federal Agricultural Mortgage2367 Call 2,000,000.0031422BF54 06/24/2030 2,5501.40006/24/2020 1,630,160.00 1.380 1.4002,000,000.00
Federal Agricultural Mortgage2381 Call 1,500,000.0031422BH78 07/08/2030 2,5641.40007/08/2020 1,222,665.00 1.380 1.4001,500,000.00
Federal Agricultural Mortgage2425 Call 2,000,000.0031422BX54 09/27/2030 2,6451.30010/08/2020 1,610,480.00 1.286 1.3042,000,000.00
Federal Agricultural Mortgage2435 Call 2,000,000.0031422BZ45 10/21/2030 2,6691.28010/21/2020 1,605,240.00 1.262 1.2802,000,000.00
Federal Agricultural Mortgage2439 Call 2,000,000.0031422B2E9 10/29/2030 2,6771.34010/29/2020 1,611,420.00 1.321 1.3402,000,000.00
Federal Agricultural Mortgage2449 1,500,000.0031422B3D0 11/20/2030 2,6991.15011/20/2020 1,211,715.00 1.134 1.1501,500,000.00
Federal Agricultural Mortgage2458 Call 1,500,000.0031422B4A5 12/11/2030 2,7201.30012/11/2020 1,197,975.00 1.282 1.3001,500,000.00
Federal Agricultural Mortgage2459 Call 2,000,000.0031422B3W8 12/16/2030 2,7251.45012/16/2020 1,614,680.00 1.430 1.4502,000,000.00
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 9
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Federal Agency Bonds
Federal Agricultural Mortgage2461 1,000,000.0031422B3D0 11/20/2030 2,6991.15012/09/2020 807,810.00 1.144 1.160999,257.47
Federal Agricultural Mortgage2471 1,500,000.0031422B6K1 01/15/2026 9290.48001/15/2021 1,352,055.00 0.493 0.5001,499,238.33
Federal Agricultural Mortgage2473 Call 1,500,000.0031422B6A3 01/15/2031 2,7551.29001/15/2021 1,193,835.00 1.319 1.3381,494,911.25
Federal Agricultural Mortgage2484 Call 1,000,000.0031422B7E4 01/28/2031 2,7681.32001/28/2021 796,940.00 1.301 1.3201,000,000.00
Federal Agricultural Mortgage2496 Call 1,500,000.0031422XAW2 02/25/2031 2,7961.53002/25/2021 1,212,105.00 1.509 1.5301,500,000.00
Federal Agricultural Mortgage2513 1,000,000.0031422XCB6 03/04/2031 2,8031.47003/04/2021 822,300.00 1.581 1.602990,605.80
Federal Agricultural Mortgage2519 1,500,000.0031422XDX7 03/27/2026 1,0000.83003/29/2021 1,356,975.00 0.828 0.8401,499,588.71
Federal Agricultural Mortgage2524 1,500,000.0031422XDX7 03/27/2026 1,0000.83003/31/2021 1,356,975.00 0.913 0.9261,496,129.57
Federal Agricultural Mortgage2527 Call 1,500,000.0031422XEE8 04/07/2031 2,8372.07004/07/2021 1,257,810.00 2.074 2.1031,496,730.00
Federal Agricultural Mortgage2529 2,000,000.0031422XEL2 04/13/2028 1,7481.37504/15/2021 1,747,900.00 1.311 1.3302,004,089.58
Federal Agricultural Mortgage2530 1,500,000.0031422XFJ6 04/29/2031 2,8591.66004/29/2021 1,217,565.00 1.627 1.6501,501,056.75
Federal Agricultural Mortgage2533 1,500,000.0031422XDX7 03/27/2026 1,0000.83005/20/2021 1,356,975.00 0.864 0.8761,498,151.88
Federal Agricultural Mortgage2540 255,000.0031422XDX7 03/27/2026 1,0000.83006/08/2021 230,685.75 0.820 0.831254,988.08
Federal Agricultural Mortgage2593 1,000,000.0031422XNM0 10/05/2026 1,1921.05010/05/2021 898,540.00 1.035 1.0501,000,000.00
Federal Agricultural Mortgage2621 1,000,000.0031422XPS5 11/17/2026 1,2351.15011/17/2021 899,070.00 1.272 1.290995,419.73
Federal Agricultural Mortgage2625 1,000,000.0031422XQM7 12/01/2026 1,2491.32012/01/2021 903,610.00 1.301 1.3201,000,000.00
Federal Agricultural Mortgage2634 1,500,000.0031422XRK0 01/04/2027 1,2831.32001/04/2022 1,352,955.00 1.301 1.3201,500,000.00
Federal Agricultural Mortgage2640 Call 1,500,000.0031422XRY0 12/29/2031 3,1032.15012/29/2021 1,247,625.00 2.120 2.1501,500,000.00
Federal Agricultural Mortgage2714 1,500,000.0031422XN32 10/24/2023 1154.72010/24/2022 1,496,535.00 4.655 4.7201,500,000.00
Federal Farm Credit Bank .1526 625,000.003133EAA65 07/26/2023 252.12501/27/2016 623,693.75 2.024 2.052625,029.18
Federal Farm Credit Bank .1615 1,000,000.003133EC7D0 12/13/2024 5312.12505/13/2016 958,040.00 1.930 1.9561,002,233.28
Federal Farm Credit Bank .1787 900,000.003133EEVD9 03/25/2024 2682.30005/04/2017 880,398.00 2.274 2.306899,960.74
Federal Farm Credit Bank .1822 500,000.003133EDWX6 10/07/2024 4642.91006/21/2017 484,830.00 2.143 2.172504,293.45
Federal Farm Credit Bank .2016 500,000.003133EEG79 09/07/2023 682.15001/15/2019 496,935.00 2.656 2.693499,534.15
Federal Farm Credit Bank .2017 650,000.003133EC2C7 11/09/2023 1312.13001/15/2019 642,687.50 2.662 2.699648,772.68
Federal Farm Credit Bank .2314 1,000,000.003133EAG44 08/03/2026 1,1292.63003/13/2020 945,720.00 1.089 1.1041,045,369.60
Federal Farm Credit Bank .2371 Call 1,500,000.003133ELQ31 07/01/2030 2,5571.33007/01/2020 1,217,220.00 1.311 1.3301,500,000.00
Federal Farm Credit Bank .2372 Call 1,500,000.003133ELQ31 07/01/2030 2,5571.33007/01/2020 1,217,220.00 1.311 1.3301,500,000.00
Federal Farm Credit Bank .2391 Call 1,500,000.003133EL3H5 08/12/2025 7730.57008/12/2020 1,368,885.00 0.587 0.5951,499,207.29
Federal Farm Credit Bank .2406 Call 1,500,000.003133EL4W1 08/25/2025 7860.61009/03/2020 1,368,345.00 0.611 0.6201,499,676.06
Federal Farm Credit Bank .2408 Call 1,500,000.003133EL4W1 08/25/2025 7860.61009/10/2020 1,368,345.00 0.611 0.6201,499,674.79
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 10
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Federal Agency Bonds
Federal Farm Credit Bank .2416 Call 1,500,000.003133EL7K4 09/16/2025 8080.55009/22/2020 1,363,995.00 0.542 0.5491,500,000.00
Federal Farm Credit Bank .2417 Call 1,500,000.003133EMBH4 09/29/2025 8210.53009/29/2020 1,361,760.00 0.522 0.5301,500,000.00
Federal Farm Credit Bank .2423 Call 1,500,000.003133EMBJ0 09/29/2025 8210.53009/29/2020 1,361,760.00 0.537 0.5451,499,495.00
Federal Farm Credit Bank .2427 Call 2,000,000.003133EMAZ5 06/24/2030 2,5501.25010/01/2020 1,612,960.00 1.246 1.2631,998,206.54
Federal Farm Credit Bank .2442 Call 1,500,000.003133EMFG2 11/04/2030 2,6831.37011/04/2020 1,208,715.00 1.351 1.3701,500,000.00
Federal Farm Credit Bank .2443 Call 1,500,000.003133EMFG2 11/04/2030 2,6831.37011/04/2020 1,208,715.00 1.351 1.3701,500,000.00
Federal Farm Credit Bank .2472 Call 1,500,000.003133EMNB4 01/14/2031 2,7541.38001/14/2021 1,202,085.00 1.361 1.3801,500,000.00
Federal Farm Credit Bank .2525 Call 1,500,000.003133EMRE4 02/18/2031 2,7891.42004/01/2021 1,202,610.00 1.834 1.8591,454,184.49
Federal Farm Credit Bank .2538 Call 1,000,000.003133EMUG5 03/24/2031 2,8231.98005/27/2021 833,780.00 1.887 1.9131,004,634.40
Federal Farm Credit Bank .2789 Call 1,500,000.003133EN5S5 01/10/2033 3,4815.90001/10/2023 1,482,045.00 5.819 5.9001,500,000.00
Federal Farm Credit Bank .2865 Call 1,000,000.003133EPFB6 04/12/2032 3,2085.84004/12/2023 985,800.00 5.760 5.8401,000,000.00
Federal Farm Credit Bank .2880 Call 1,000,000.003133EPFB6 04/12/2032 3,2085.84004/14/2023 985,800.00 5.759 5.8391,000,000.00
Federal Farm Credit Bank .2884 Call 1,000,000.003133EPHA6 04/28/2031 2,8585.80004/28/2023 994,410.00 5.720 5.8001,000,000.00
Federal Farm Credit Bank .2887 Call 1,000,000.003133EPHA6 04/28/2031 2,8585.80004/28/2023 994,410.00 5.720 5.8001,000,000.00
Federal Farm Credit Bank .2888 Call 2,000,000.003133EPHJ7 04/28/2033 3,5896.08004/28/2023 1,981,620.00 5.996 6.0802,000,000.00
Federal Home Loan Bank1886 1,000,000.003130A3VC5 12/08/2023 1602.25001/03/2018 986,280.00 2.359 2.392999,423.48
Federal Home Loan Bank1896 1,000,000.003130A3DL5 09/08/2023 692.37501/09/2018 994,240.00 2.376 2.409999,940.61
Federal Home Loan Bank2347 Call 1,500,000.003130AJMF3 11/28/2028 1,9771.32005/28/2020 1,277,850.00 1.301 1.3201,500,000.00
Federal Home Loan Bank2358 Call 1,000,000.003130AJP78 06/11/2029 2,1721.40006/11/2020 845,130.00 1.380 1.4001,000,000.00
Federal Home Loan Bank2361 Call 1,000,000.003130AJP78 06/11/2029 2,1721.40006/11/2020 845,130.00 1.427 1.447997,358.02
Federal Home Loan Bank2368 Call 900,000.003130AJR76 06/29/2029 2,1901.25006/29/2020 753,048.00 1.232 1.250900,000.00
Federal Home Loan Bank2369 Call 1,500,000.003130AJRG6 06/24/2030 2,5501.36006/24/2020 1,219,125.00 1.341 1.3601,500,000.00
Federal Home Loan Bank2375 Call 1,500,000.003130AJSR1 07/09/2030 2,5651.39007/09/2020 1,221,645.00 1.370 1.3901,500,000.00
Federal Home Loan Bank2377 Call 1,500,000.003130AJSR1 07/09/2030 2,5651.39007/09/2020 1,221,645.00 1.370 1.3901,500,000.00
Federal Home Loan Bank2384 Call 1,500,000.003130AJSR1 07/09/2030 2,5651.39007/09/2020 1,221,645.00 1.382 1.4011,498,841.33
Federal Home Loan Bank2395 Call 1,500,000.003130AJZ36 08/27/2025 7880.60008/27/2020 1,367,775.00 0.611 0.6201,499,353.33
Federal Home Loan Bank2399 Call 1,500,000.003130AJZ36 08/27/2025 7880.60008/27/2020 1,367,775.00 0.611 0.6201,499,353.33
Federal Home Loan Bank2405 Call 1,500,000.003130AK3Z7 09/29/2025 8210.57009/29/2020 1,363,020.00 0.582 0.5901,499,326.67
Federal Home Loan Bank2411 Call 1,180,000.003130AJZ36 08/27/2025 7880.60009/16/2020 1,075,983.00 0.591 0.5991,180,000.00
Federal Home Loan Bank2419 Call 1,500,000.003130AKAZ91 09/29/2025 8210.52009/29/2020 1,361,445.00 0.512 0.5201,500,000.00
Federal Home Loan Bank2445 Call 1,200,000.003130AJQS1 06/25/2030 2,5511.35011/04/2020 959,988.00 1.334 1.3531,199,721.87
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 11
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Federal Agency Bonds
Federal Home Loan Bank2475 Call 1,500,000.003130AKQN9 01/09/2031 2,7491.40001/28/2021 1,204,350.00 1.380 1.4001,500,000.00
Federal Home Loan Bank2476 Call 1,500,000.003130AKQV1 01/28/2031 2,7681.40001/28/2021 1,202,685.00 1.380 1.4001,500,000.00
Federal Home Loan Bank2485 Call 1,500,000.003130AKVH6 02/10/2031 2,7811.35002/10/2021 1,196,895.00 1.331 1.3501,500,000.00
Federal Home Loan Bank2490 Call 2,000,000.003130AKYB6 02/18/2031 2,7891.40002/18/2021 1,601,040.00 1.380 1.4002,000,000.00
Federal Home Loan Bank2494 Call 1,500,000.003130AL2J2 02/26/2031 2,7971.50002/26/2021 1,209,270.00 1.479 1.5001,500,000.00
Federal Home Loan Bank2500 Call 1,500,000.003130ALF66 02/25/2031 2,7961.62502/25/2021 1,205,745.00 1.602 1.6251,500,000.00
Federal Home Loan Bank2520 Call 1,925,000.003130ALF33 03/16/2026 9890.75003/25/2021 1,712,364.50 0.853 0.8651,919,131.49
Federal Home Loan Bank2607 Call 1,000,000.003130APPJ8 11/04/2031 3,0482.00011/04/2021 824,530.00 1.972 2.0001,000,000.00
Federal Home Loan Bank2613 Call 1,000,000.003130APV77 12/10/2026 1,2581.50012/10/2021 905,160.00 1.479 1.5001,000,000.00
Federal Home Loan Bank2616 Call 1,000,000.003130APW84 12/03/2026 1,2511.50012/03/2021 905,090.00 1.479 1.5001,000,000.00
Federal Home Loan Bank2618 Call 1,000,000.003130APXD2 12/17/2026 1,2651.55012/17/2021 905,890.00 1.528 1.5501,000,000.00
Federal Home Loan Bank2619 Call 1,000,000.003130APWY7 12/07/2026 1,2551.35012/07/2021 900,440.00 1.331 1.3501,000,000.00
Federal Home Loan Bank2620 Call 1,000,000.003130APXT7 12/17/2026 1,2651.60012/17/2021 907,390.00 1.578 1.6001,000,000.00
Federal Home Loan Bank2659 Call 1,000,000.003130AQSM6 02/25/2027 1,3352.05002/25/2022 916,000.00 2.021 2.0501,000,000.00
Federal Home Loan Bank2662 Call 1,000,000.003130AQX65 03/04/2027 1,3422.25003/04/2022 922,920.00 2.219 2.2501,000,000.00
Federal Home Loan Bank2663 Call 1,000,000.003130AQYA5 02/24/2027 1,3342.25002/28/2022 922,120.00 2.219 2.2501,000,000.00
Federal Home Loan Bank2664 Call 1,500,000.003130AQYG2 02/25/2027 1,3352.50002/28/2022 1,394,040.00 2.470 2.5041,500,000.00
Federal Home Loan Bank2665 Call 1,000,000.003130AQZD8 02/25/2027 1,3352.62502/25/2022 932,890.00 2.589 2.6251,000,000.00
Federal Home Loan Bank2703 1,500,000.003130ATKJ5 03/08/2024 2514.37510/14/2022 1,484,595.00 4.400 4.4611,499,159.76
Federal Home Loan Bank2737 1,500,000.003130ATYM3 11/22/2023 1444.87511/22/2022 1,494,810.00 4.838 4.9061,499,823.75
Federal Home Loan Bank2787 1,500,000.003130AUFY5 01/05/2024 1884.75001/05/2023 1,495,575.00 4.790 4.8561,499,210.33
Federal Home Loan Bank2794 Call 1,094,594.593130AUJJ4 01/27/2028 1,6715.55501/30/2023 1,083,966.08 5.479 5.5551,094,594.59
Federal Home Loan Bank2802 Call 1,500,000.003130AULM4 01/26/2033 3,4975.62001/26/2023 1,473,900.00 5.543 5.6201,500,000.00
Federal Home Loan Bank2824 1,000,000.003130AUU28 02/08/2024 2225.00002/08/2023 995,640.00 4.931 5.0001,000,000.00
Federal Home Loan Bank2844 500,000.003130AVCN0 03/13/2024 2565.37503/13/2023 499,535.00 5.311 5.385499,965.00
Federal Home Loan Bank2902 Call 1,000,000.003130AVYF3 05/24/2033 3,6156.00005/24/2023 990,210.00 5.917 6.0001,000,000.00
Fed. Home Loan Mortgage Corp.2345 Call 455,000.003134GVUA4 05/18/2028 1,7831.20005/18/2020 391,677.65 1.183 1.200455,000.00
Fed. Home Loan Mortgage Corp.2370 Call 1,500,000.003134GV3B2 06/28/2030 2,5541.40006/30/2020 1,222,215.00 1.380 1.4001,500,000.00
Fed. Home Loan Mortgage Corp.2373 Call 1,500,000.003134GV3U0 06/29/2029 2,1901.25006/29/2020 1,255,110.00 1.232 1.2501,500,000.00
Fed. Home Loan Mortgage Corp.2379 Call 1,500,000.003134GV4E5 12/29/2028 2,0081.20007/01/2020 1,263,225.00 1.183 1.1991,500,000.00
Fed. Home Loan Mortgage Corp.2380 Call 1,500,000.003134GV5D6 01/08/2029 2,0181.20007/08/2020 1,265,025.00 1.183 1.2001,500,000.00
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 12
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Federal Agency Bonds
Fed. Home Loan Mortgage Corp.2382 Call 1,500,000.003134GV5A2 07/15/2030 2,5711.37507/15/2020 1,219,815.00 1.356 1.3751,500,000.00
Fed. Home Loan Mortgage Corp.2386 Call 1,500,000.003134GV7L6 07/29/2030 2,5851.35007/29/2020 1,216,395.00 1.331 1.3501,500,000.00
Fed. Home Loan Mortgage Corp.2387 Call 1,500,000.003134GV7L6 07/29/2030 2,5851.35007/29/2020 1,216,395.00 1.331 1.3501,500,000.00
Fed. Home Loan Mortgage Corp.2396 Call 1,000,000.003134GWNC6 08/19/2025 7800.62508/20/2020 913,100.00 0.616 0.6251,000,000.00
Fed. Home Loan Mortgage Corp.2400 Call 1,500,000.003134GWC53 09/15/2025 8070.65009/15/2020 1,367,220.00 0.641 0.6501,500,000.00
Fed. Home Loan Mortgage Corp.2404 Call 1,447,000.003134GWA55 09/09/2025 8010.65009/09/2020 1,319,649.53 0.641 0.6501,447,000.00
Fed. Home Loan Mortgage Corp.2407 Call 1,500,000.003134GWD52 09/02/2025 7940.68009/04/2020 1,369,755.00 0.670 0.6791,500,000.00
Fed. Home Loan Mortgage Corp.2409 Call 1,500,000.003134GWP75 09/23/2025 8150.62509/23/2020 1,365,465.00 0.616 0.6251,500,000.00
Fed. Home Loan Mortgage Corp.2410 Call 1,000,000.003134GWP75 09/23/2025 8150.62509/23/2020 910,310.00 0.616 0.6251,000,000.00
Fed. Home Loan Mortgage Corp.2418 Call 1,500,000.003134GWVV5 10/15/2025 8370.50010/15/2020 1,367,790.00 0.493 0.5001,500,000.00
Fed. Home Loan Mortgage Corp.2421 Call 2,000,000.003134GWW93 09/30/2025 8220.55009/30/2020 1,816,360.00 0.542 0.5502,000,000.00
Fed. Home Loan Mortgage Corp.2422 Call 1,500,000.003134GWW93 09/30/2025 8220.55009/30/2020 1,362,270.00 0.542 0.5501,500,000.00
Fed. Home Loan Mortgage Corp.2424 Call 1,500,000.003134GWXK7 09/30/2025 8220.55009/30/2020 1,362,270.00 0.542 0.5501,500,000.00
Fed. Home Loan Mortgage Corp.2426 Call 1,500,000.003134GWXX9 10/15/2025 8370.55010/15/2020 1,360,830.00 0.542 0.5501,500,000.00
Fed. Home Loan Mortgage Corp.2428 Call 1,500,000.003134GWY26 10/08/2025 8300.57010/08/2020 1,362,360.00 0.562 0.5701,500,000.00
Fed. Home Loan Mortgage Corp.2430 Call 1,500,000.003134GWYZ3 10/28/2025 8500.53010/28/2020 1,358,565.00 0.522 0.5301,500,000.00
Fed. Home Loan Mortgage Corp.2431 Call 1,500,000.003134GWZ33 10/22/2030 2,6701.25010/22/2020 1,201,125.00 1.232 1.2501,500,000.00
Fed. Home Loan Mortgage Corp.2432 Call 1,500,000.003134GWZL3 10/29/2025 8510.57010/29/2020 1,359,735.00 0.562 0.5701,500,000.00
Fed. Home Loan Mortgage Corp.2433 Call 2,000,000.003134GW3T1 10/28/2030 2,6761.40010/28/2020 1,599,480.00 1.380 1.4002,000,000.00
Fed. Home Loan Mortgage Corp.2434 Call 1,500,000.003134GW3H7 10/29/2025 8510.61010/29/2020 1,355,970.00 0.601 0.6101,500,000.00
Fed. Home Loan Mortgage Corp.2436 Call 2,000,000.003134GWZZ2 10/28/2030 2,6761.30010/28/2020 1,606,720.00 1.282 1.3002,000,000.00
Fed. Home Loan Mortgage Corp.2437 Call 750,000.003134GW3Z7 10/28/2025 8500.60010/28/2020 680,415.00 0.591 0.600750,000.00
Fed. Home Loan Mortgage Corp.2438 Call 1,500,000.003134GW3X2 10/27/2025 8490.62510/27/2020 1,361,775.00 0.616 0.6251,500,000.00
Fed. Home Loan Mortgage Corp.2440 Call 1,500,000.003134GW6N1 11/05/2030 2,6841.40011/05/2020 1,211,325.00 1.380 1.4001,500,000.00
Fed. Home Loan Mortgage Corp.2444 Call 1,500,000.003134GW6N1 11/05/2030 2,6841.40011/05/2020 1,211,325.00 1.380 1.4001,500,000.00
Federal National Mortgage Asso1715 500,000.0031364CCC0 04/30/2026 1,0347.12511/10/2016 532,670.00 2.367 2.400559,496.48
Federal National Mortgage Asso2392 Call 1,000,000.003136G4R62 08/28/2025 7890.62508/28/2020 912,270.00 0.616 0.6251,000,000.00
Federal National Mortgage Asso2393 Call 1,000,000.003136G4S87 08/27/2025 7880.65008/27/2020 910,520.00 0.641 0.6501,000,000.00
Federal National Mortgage Asso2394 Call 1,500,000.003136G4Q97 08/27/2025 7880.65008/27/2020 1,362,540.00 0.641 0.6501,500,000.00
Federal National Mortgage Asso2397 Call 1,500,000.003136G4V59 08/27/2025 7880.62508/27/2020 1,368,540.00 0.616 0.6251,500,000.00
Federal National Mortgage Asso2412 Call 1,500,000.003136G44G5 09/22/2025 8140.51509/22/2020 1,362,120.00 0.507 0.5151,500,000.00
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 13
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Federal Agency Bonds
Federal National Mortgage Asso2413 Call 1,500,000.003136G43L5 09/30/2025 8220.55009/30/2020 1,362,270.00 0.542 0.5501,500,000.00
Federal National Mortgage Asso2415 Call 1,500,000.003136G44L4 09/25/2025 8170.60009/25/2020 1,364,445.00 0.591 0.6001,500,000.00
Federal National Mortgage Asso2460 2,000,000.003135G05Q2 08/05/2030 2,5920.87512/07/2020 1,607,680.00 1.139 1.1551,962,505.11
Federal National Mortgage Asso2463 Call 1,500,000.003135GAAS0 12/23/2030 2,7321.40012/23/2020 1,205,895.00 1.380 1.4001,500,000.00
Federal National Mortgage Asso2467 Call 1,000,000.003135G06Q1 12/30/2025 9130.64012/30/2020 902,890.00 0.597 0.6051,000,844.06
Federal National Mortgage Asso2808 1,500,000.003135G05G4 07/10/2023 90.25001/20/2023 1,498,650.00 4.688 4.7531,498,348.24
Tennessee Valley Authority1508 1,000,000.00880591CJ9 11/01/2025 8546.75011/20/2015 1,050,380.00 2.807 2.8461,078,832.39
Tennessee Valley Authority1519 750,000.00880591ER9 09/15/2024 4422.87501/15/2016 727,342.50 2.564 2.600752,210.69
Tennessee Valley Authority1589 775,000.00880591CJ9 11/01/2025 8546.75004/18/2016 814,044.50 2.337 2.370845,517.73
Tennessee Valley Authority1714 1,250,000.00880591CJ9 11/01/2025 8546.75011/10/2016 1,312,975.00 2.317 2.3501,365,093.78
Subtotal and Average 207,193,968.43 206,630,594.59 183,102,146.08 1.671 1.694 1,677
Treasury Securities (Notes)
U.S. Treasury2505 TB 1,500,000.0091282CBC4 12/31/2025 9140.37502/26/2021 1,352,055.00 0.731 0.7421,486,494.60
U.S. Treasury2516 TB 1,500,000.0091282CBQ3 02/28/2026 9730.50003/09/2021 1,347,420.00 0.819 0.8311,487,059.69
U.S. Treasury2587 TB 1,500,000.0091282CCP4 07/31/2026 1,1260.62509/24/2021 1,336,350.00 0.888 0.9011,487,533.25
U.S. Treasury2701 TB 1,000,000.0091282CFN6 09/30/2024 4574.25010/07/2022 986,880.00 4.142 4.1991,000,591.76
U.S. Treasury2740 TB 1,500,000.0091282CER8 05/31/2024 3352.50011/23/2022 1,460,925.00 4.636 4.7001,471,104.84
Subtotal and Average 6,932,784.14 7,000,000.00 6,483,630.00 2.105 2.134 783
Treasury Discounts -Amortizing
U.S. Treasury2874 TB 1,000,000.00912797GF8 08/08/2023 384.84004/11/2023 994,870.00 4.987 5.056994,891.11
Subtotal and Average 994,891.11 1,000,000.00 994,870.00 4.987 5.056 38
Municipal Bonds
County of Alameda2173 MUN 290,000.00010878AS5 08/01/2026 1,1274.00012/05/2019 282,906.60 2.139 2.168305,167.99
County of Alameda2691 MUN 1,500,000.00010878BK1 08/01/2031 2,9533.69909/21/2022 1,408,665.00 4.281 4.3401,435,989.12
Alameda County Joint Pws Auth.2005 MUN 505,000.00010831DS1 06/01/2025 7013.36512/24/2018 487,067.45 3.175 3.220506,255.74
Alameda County Joint Pws Auth.2566 MUN 110,000.00010831DT9 06/01/2026 1,0663.39508/13/2021 105,254.60 0.925 0.938117,688.46
State of Alabama2835 MUN 1,000,000.00010411CT1 11/01/2026 1,2193.45002/15/2023 957,880.00 4.142 4.200977,032.93
Antelope Valley Community Coll2069 MUN 500,000.0003667PFN7 08/01/2024 3973.02608/16/2019 487,600.00 1.876 1.902505,781.18
Antelope Valley Community Coll2694 MUN 1,080,000.0003667PHJ4 08/01/2029 2,2231.66109/23/2022 898,214.40 4.389 4.450923,530.71
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 14
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
Antelope Valley Community Coll2705 MUN 300,000.0003667PGA4 08/01/2031 2,9532.33810/17/2022 248,337.00 5.128 5.200244,844.28
Antelope Valley Community Coll2727 MUN 335,000.0003667PFZ0 08/01/2030 2,5882.21811/10/2022 281,172.20 5.640 5.719271,022.96
Antelope Valley Community Coll2784 MUN 675,000.0003667PHL9 08/01/2031 2,9531.86101/05/2023 537,549.75 4.911 4.980537,833.48
Bay Area Toll Authority2558 MUN 1,750,000.00072024XC1 04/01/2026 1,0051.07907/26/2021 1,571,622.50 0.739 0.7501,765,525.67
Berkeley Unified School Dist.2817 MUN 250,000.00084154G49 08/01/2031 2,9531.85601/26/2023 202,665.00 4.524 4.586204,735.97
Beverly Hills Public Fing Auth2612 MUN 350,000.00088006KA8 06/01/2026 1,0661.14711/15/2021 313,964.00 1.183 1.200349,474.36
Beverly Hills Public Fing Auth2680 MUN 490,000.00088006KB6 06/01/2027 1,4311.32704/01/2022 430,469.90 2.810 2.850462,995.47
Beverly Hills Unified Sch Dist2682 MUN 920,000.00088023PL4 08/01/2026 1,1272.70004/13/2022 862,509.20 2.644 2.681920,514.56
Burlingame School District1548 MUN 355,000.00121457EQ4 08/01/2025 7626.23802/24/2016 358,635.20 3.557 3.606371,393.88
City of Buena Park2734 MUN 685,000.00119174AJ9 07/01/2030 2,5571.88211/18/2022 558,651.75 5.076 5.147556,809.35
Burbank Unified School Distri.2570 MUN 1,000,000.0012082SDN1 08/01/2026 1,1271.36708/30/2021 901,790.00 0.947 0.9601,012,221.91
Cabrillo Community College Dis2119 MUN 2,000,000.00127109QD1 08/01/2027 1,4922.38510/08/2019 1,819,540.00 2.342 2.3752,000,000.00
Carlsbad Unified School Dist .1857 MUN 305,000.00142665DJ4 08/01/2026 1,1275.23409/27/2017 307,726.70 2.850 2.890324,324.14
CA Infrastructure -Econ Dev Bk2666 MUN 210,000.0013034AL73 10/01/2026 1,1881.03502/16/2022 186,614.40 2.224 2.254202,134.65
CA Infrastructure -Econ Dev Bk2893 MUN 500,000.0013034AL99 10/01/2028 1,9191.46605/08/2023 427,960.00 3.728 3.780445,508.08
CA ST Dept of WTR Resources2633 MUN 180,000.0013067WRC8 12/01/2025 8840.79012/13/2021 162,729.00 1.301 1.320177,760.66
CA ST Dept of WTR Resources2645 MUN 300,000.0013067WRD6 12/01/2026 1,2490.92012/23/2021 263,319.00 1.430 1.450294,774.23
Chabot-Las Positas CCD2564 MUN 285,000.0015722TJR3 08/01/2026 1,1271.08008/16/2021 253,801.05 0.897 0.910286,456.81
Chabot-Las Positas CCD2589 MUN 125,000.0015722TJQ5 08/01/2025 7620.88009/29/2021 114,312.50 0.897 0.910124,922.67
Chabot-Las Positas CCD2764 MUN 770,000.0015722TJV4 08/01/2030 2,5881.79012/14/2022 634,549.30 5.069 5.140620,403.74
Chabot-Las Positas CCD2830 MUN 205,000.0015722TJS1 08/01/2027 1,4921.28702/13/2023 178,622.65 4.296 4.356181,879.63
Chabot-Las Positas CCD2842 MUN 1,000,000.0015722TJQ5 08/01/2025 7620.88003/07/2023 914,500.00 4.783 4.850922,795.14
Chaffey Community Clg District2698 MUN 300,000.00157432KL8 06/01/2030 2,5272.32910/06/2022 258,510.00 4.931 5.000254,404.53
Chaffey Community Clg District2712 MUN 500,000.00157432KK0 06/01/2029 2,1622.22910/21/2022 436,960.00 5.216 5.289424,425.27
City of Chula Vista2653 MUN 1,000,000.0017131RAU0 06/01/2026 1,0660.84001/10/2022 878,680.00 1.676 1.700975,925.05
Calleguas Municipal Water Dist2544 MUN 550,000.0013124MCE3 07/01/2029 2,1921.86507/01/2021 468,149.00 1.425 1.445563,043.25
Calleguas Municipal Water Dist2646 MUN 600,000.0013124MCB9 07/01/2026 1,0961.09712/27/2021 536,034.00 1.233 1.250597,326.60
Calleguas Municipal Water Dist2791 MUN 170,000.0013124MCB9 07/01/2026 1,0961.09701/09/2023 151,876.30 4.625 4.690153,270.70
Campbell Union High Sch Dist2753 MUN 500,000.00134159A77 08/01/2029 2,2231.47212/07/2022 416,795.00 4.714 4.780414,659.52
Corona-Norco Unified School Di2704 MUN 700,000.00219766QU9 09/01/2030 2,6192.11410/14/2022 576,072.00 5.178 5.250572,491.43
City of Corona2601 MUN 500,000.0021969AAJ1 05/01/2030 2,4962.24210/14/2021 426,400.00 2.052 2.081505,012.74
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 15
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
Contra Costa Community College2103 MUN 400,000.00212204JJ1 08/01/2028 1,8582.21309/12/2019 354,908.00 2.071 2.100402,082.28
Contra Costa Community College2120 MUN 990,000.00212204JK8 08/01/2029 2,2232.26309/20/2019 861,468.30 2.505 2.539975,334.34
Contra Costa Community College2244 MUN 1,500,000.00212204JK8 08/01/2029 2,2232.26302/07/2020 1,305,255.00 2.100 2.1301,510,930.76
Contra Costa Community College2291 MUN 320,000.00212204JF9 08/01/2025 7621.91803/09/2020 299,078.40 1.128 1.143324,991.56
Contra Costa Community College2555 MUN 1,000,000.00212204LM1 08/01/2026 1,1271.30008/02/2021 896,720.00 0.764 0.7751,015,844.80
Desert Community Clg Dist2611 MUN 200,000.00250375JX1 08/01/2027 1,4921.16911/12/2021 173,066.00 1.479 1.500197,416.97
Desert Community Clg Dist2738 MUN 200,000.00250375LA8 08/01/2027 1,4923.00011/23/2022 186,448.00 4.965 5.034185,357.48
Desert Sands Unif Sch District2635 MUN 880,000.00250433UA5 08/01/2026 1,1271.98212/16/2021 802,498.40 1.390 1.410894,965.87
City of El Segundo2696 MUN 935,000.00284035AK8 07/01/2031 2,9222.26709/29/2022 760,201.75 5.118 5.190761,035.89
Federal Farm Credit Bank .2829 500,000.003133EPAF2 02/08/2024 2224.75002/10/2023 497,530.00 4.833 4.900499,560.54
Federal Home Loan Bank2833 1,180,000.00313383YJ4 09/08/2023 693.37502/14/2023 1,175,480.60 4.932 5.0011,176,512.06
Fremon Union High School Distr1646 MUN 510,000.00357172VA0 02/01/2026 9466.08006/28/2016 519,108.60 2.994 3.035545,026.50
Fremon Union High School Distr2595 MUN 235,000.00357172C52 08/01/2031 2,9532.02010/01/2021 190,293.60 1.825 1.851237,915.06
Foothill-De Anza Comm Clg Dist2699 MUN 1,230,000.00345102PF8 08/01/2024 3970.57510/06/2022 1,167,183.90 4.241 4.3001,182,733.07
Foothill-De Anza Comm Clg Dist2818 MUN 540,000.00345102PG6 08/01/2025 7620.90601/27/2023 496,087.20 4.172 4.230504,871.63
Fullerton School District1916 MUN 995,000.00359819DN6 08/01/2026 1,1273.16002/14/2018 944,364.45 3.028 3.070997,410.43
Fullerton School District1917 MUN 750,000.00359819DM8 08/01/2025 7623.04002/14/2018 717,127.50 2.959 3.000750,552.66
Fullerton School District2085 MUN 365,000.00359819DN6 08/01/2026 1,1273.16008/29/2019 346,425.15 1.913 1.940377,788.56
State of Georgia1666 MUN 1,825,000.003733844V5 02/01/2025 5812.37507/29/2016 1,742,637.75 1.972 1.9991,834,916.69
State of Georgia1775 MUN 250,000.00373384RX6 10/01/2025 8234.00004/10/2017 243,430.00 2.739 2.777256,091.59
State of Georgia1919 MUN 1,095,000.00373384RY4 10/01/2026 1,1884.31001/26/2018 1,073,811.75 2.979 3.0201,135,142.00
State of Georgia1945 MUN 200,000.00373384RY4 10/01/2026 1,1884.31003/19/2018 196,130.00 3.204 3.248205,976.58
State of Georgia1962 MUN 390,000.00373384SP2 10/01/2023 923.74010/25/2018 388,151.40 3.093 3.136390,541.32
State of Georgia1967 MUN 350,000.00373385BU6 02/01/2027 1,3112.72010/31/2018 326,158.00 3.412 3.460341,980.93
State of Georgia2086 MUN 1,500,000.00373384RV0 10/01/2023 923.72008/29/2019 1,492,830.00 1.749 1.7741,507,007.71
State of Georgia2229 MUN 425,000.00373384RY4 10/01/2026 1,1884.31001/31/2020 416,776.25 1.837 1.863456,662.52
State of Georgia2332 MUN 1,000,000.00373384RW8 10/01/2024 4583.82003/23/2020 978,860.00 1.889 1.9151,022,750.38
City of Glendora2109 MUN 1,345,000.00378612AL9 06/01/2028 1,7972.26509/16/2019 1,195,126.65 2.318 2.3501,339,927.36
City of Glendora2137 MUN 400,000.00378612AL9 06/01/2028 1,7972.26510/02/2019 355,428.00 2.194 2.225400,708.23
City of Glendora2590 MUN 1,365,000.00378612AJ4 06/01/2026 1,0662.10809/29/2021 1,255,704.45 1.075 1.0901,404,401.59
Glendale Unified School Dist.2697 MUN 400,000.00378460ZC6 09/01/2031 2,9841.84209/30/2022 323,224.00 4.941 5.010317,354.05
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 16
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
Glendale Unified School Dist.2739 MUN 535,000.00378460A74 09/01/2027 1,5231.11311/25/2022 462,443.30 4.686 4.751463,141.78
Grossmont-Cuyamaca Cmnty Clg D2721 MUN 450,000.00399267HH9 08/01/2027 1,4921.48211/02/2022 396,382.50 5.227 5.300388,672.87
State of Hawaii1685 MUN 1,045,000.00419792DA1 10/01/2026 1,1883.15010/19/2016 994,035.35 2.431 2.4651,065,503.79
State of Hawaii1961 MUN 250,000.00419791YS1 02/01/2025 5815.23010/25/2018 249,690.00 3.363 3.410256,433.34
State of Hawaii1995 MUN 800,000.00419791YT9 02/01/2026 9465.33012/06/2018 806,640.00 3.304 3.350836,104.95
State of Hawaii2820 MUN 700,000.00419792F92 08/01/2025 7621.03301/30/2023 644,028.00 4.172 4.230656,193.67
City of Huntington Beach2560 MUN 1,000,000.00446201AE5 06/15/2026 1,0801.34408/12/2021 892,340.00 0.909 0.9211,012,166.10
City of Huntington Beach2562 MUN 1,000,000.00446201AE5 06/15/2026 1,0801.34408/13/2021 892,340.00 0.927 0.9391,011,641.70
City of Huntington Beach2790 MUN 805,000.00446216HN6 05/01/2029 2,1311.73101/09/2023 679,403.90 4.931 5.000674,707.99
City of Huntington Beach2840 MUN 175,000.00446201AE5 06/15/2026 1,0801.34403/03/2023 156,159.50 5.340 5.414155,942.07
Liberty Union High Sch Distr2768 MUN 530,000.00530319SP8 08/01/2028 1,8581.48412/15/2022 453,446.80 4.614 4.678455,079.29
City of La Habra2660 MUN 500,000.00503433AK0 08/01/2031 2,9532.67302/07/2022 421,940.00 2.638 2.675499,914.76
Los Altos Elementary Sch Distr2681 MUN 500,000.00544290JH3 10/01/2024 4581.00003/24/2022 472,905.00 2.522 2.557490,615.49
City of Los Angeles1748 MUN 1,000,000.00544351KS7 09/01/2023 622.64002/14/2017 995,080.00 2.784 2.8231,000,045.31
City of Los Angeles1969 MUN 295,000.00544351NP0 09/01/2026 1,1583.30011/02/2018 280,751.50 3.530 3.579292,732.15
City of Los Angeles2008 MUN 1,000,000.00544351MS5 09/01/2026 1,1583.50001/07/2019 957,470.00 3.077 3.1191,010,617.65
City of Los Angeles2200 MUN 840,000.00544351NQ8 09/01/2027 1,5233.40001/06/2020 795,614.40 2.360 2.393872,014.52
City of Los Angeles2213 MUN 985,000.00544351LQ0 09/01/2029 2,2543.05001/22/2020 895,571.85 2.413 2.4461,017,474.93
City of Los Angeles2283 MUN 1,000,000.00544351KV0 09/01/2026 1,1583.15003/05/2020 947,370.00 1.519 1.5411,048,308.48
City of Los Angeles2692 MUN 1,000,000.00544351QX0 09/01/2032 3,3504.40009/28/2022 971,970.00 4.346 4.406999,538.20
City of Los Angeles2783 MUN 300,000.00544351MR7 09/01/2025 7933.45012/23/2022 288,456.00 4.724 4.790291,904.28
City of Los Angeles2800 MUN 310,000.00544351KT5 09/01/2024 4282.84001/17/2023 300,151.30 4.290 4.350304,774.16
Los Angeles Community College2487 MUN 1,000,000.0054438CYN6 08/01/2030 2,5881.80601/28/2021 835,190.00 1.432 1.4521,023,353.12
Los Angeles Community College2592 MUN 250,000.0054438CYL0 08/01/2026 1,1271.17409/30/2021 221,980.00 1.064 1.078250,712.48
Los Angeles Community College2614 MUN 1,500,000.0054438CYL0 08/01/2026 1,1271.17411/15/2021 1,331,880.00 1.233 1.2501,496,583.61
Los Angeles Community College2642 MUN 275,000.0054438CYL0 08/01/2026 1,1271.17412/21/2021 244,178.00 1.282 1.300273,964.72
Los Angeles Community College2871 MUN 1,000,000.0054438CMS8 08/01/2029 2,2237.53004/10/2023 1,115,550.00 4.615 4.6801,148,536.20
Los Angeles Cnty Met Tran Auth2641 MUN 1,000,000.005447122K7 06/01/2025 7015.13012/21/2021 997,840.00 1.085 1.1001,075,694.63
Los Angeles Dept. of WTR & PWR1949 MUN 1,500,000.00544495VX9 07/01/2027 1,4615.51603/29/2018 1,532,610.00 3.254 3.3001,613,730.61
Los Angeles Dept. of WTR & PWR1965 MUN 425,000.00544495VX9 07/01/2027 1,4615.51610/29/2018 434,239.50 3.600 3.650451,971.52
State of Massachusetts2227 MUN 250,000.0057582PUT5 05/01/2029 2,1314.91001/30/2020 248,965.00 2.331 2.363283,181.70
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 17
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
State of Massachusetts2543 MUN 1,000,000.0057582PUT5 05/01/2029 2,1314.91007/01/2021 995,860.00 1.484 1.5051,186,996.81
State of Massachusetts2684 MUN 1,000,000.0057582PUS7 05/01/2027 1,4004.76004/05/2022 991,310.00 2.968 3.0101,061,759.91
State of Maryland2184 MUN 500,000.005741926N5 08/01/2025 7624.35012/16/2019 493,840.00 2.089 2.118521,796.30
State of Maryland2581 MUN 245,000.005741926N5 08/01/2025 7624.35009/23/2021 241,981.60 0.690 0.700263,347.20
State of Michigan2002 MUN 825,000.005946108C4 05/15/2026 1,0493.85012/21/2018 796,290.00 3.452 3.500832,240.04
Milpitas Unified School Distr2746 MUN 630,000.00601670ML3 08/01/2028 1,8581.45112/02/2022 539,361.90 4.802 4.869535,236.61
City of Manhattan Beach2647 MUN 650,000.00562784AM0 01/01/2032 3,1062.34101/05/2022 537,413.50 2.129 2.159658,130.78
Menlo Park City School Dist.2104 MUN 1,000,000.00586840ND8 07/01/2027 1,4612.21410/08/2019 911,240.00 2.183 2.2141,000,000.00
Mtn. View-Whisman School Dist.2708 MUN 1,135,000.0062451FJE1 09/01/2026 1,1581.89310/19/2022 1,037,809.95 4.487 4.5501,048,303.12
Marin Community College Dist.1858 MUN 500,000.0056781RGU5 08/01/2027 1,4923.27209/28/2017 472,860.00 2.791 2.830507,822.99
Marin Community College Dist.1973 MUN 120,000.0056781RGT8 08/01/2026 1,1273.17211/05/2018 114,097.20 3.452 3.500118,942.91
Marin Community College Dist.2084 MUN 250,000.0056781RJL2 08/01/2027 1,4923.33008/29/2019 236,962.50 1.874 1.900263,491.32
Marin Community College Dist.2287 MUN 310,000.0056781RJJ7 08/01/2025 7625.00003/06/2020 308,546.10 1.193 1.210333,622.96
Marin Community College Dist.2495 MUN 1,000,000.0056781RKH9 08/01/2030 2,5881.45102/25/2021 806,570.00 1.431 1.4511,000,000.00
Marin Community College Dist.2499 MUN 710,000.0056781RKH9 08/01/2030 2,5881.45102/25/2021 572,664.70 1.470 1.490708,134.05
Marin Community College Dist.2568 MUN 1,000,000.0056781RKU0 08/01/2026 1,1270.89309/14/2021 886,570.00 0.880 0.8931,000,000.00
Marin Community College Dist.2588 MUN 285,000.0056781RKD8 08/01/2026 1,1270.67909/29/2021 250,953.90 1.025 1.040281,912.77
Mt. San Antonio Community Coll1489 MUN 1,335,000.00623040GX4 08/01/2023 314.10310/26/2015 1,333,317.90 2.490 2.5251,336,584.66
Mt. San Antonio Community Coll2208 MUN 230,000.00623040KQ4 08/01/2029 2,2232.56902/04/2020 204,150.30 2.533 2.569230,000.00
Mt. San Antonio Community Coll2661 MUN 785,000.00623040KX9 08/01/2030 2,5882.64902/07/2022 687,016.30 2.173 2.203807,495.11
State of Mississippi1968 MUN 1,500,000.00605581LM7 11/01/2026 1,2193.75111/07/2018 1,454,100.00 3.377 3.4241,514,148.23
State of Mississippi1972 MUN 500,000.00605581LM7 11/01/2026 1,2193.75111/07/2018 484,700.00 3.401 3.449504,350.73
State of Mississippi2087 MUN 750,000.00605581HL4 12/01/2024 5192.98708/30/2019 724,387.50 1.745 1.770762,292.19
State of Mississippi2090 MUN 500,000.00605581HL4 12/01/2024 5192.98709/04/2019 482,925.00 1.783 1.807507,932.43
State of Mississippi2096 MUN 150,000.006055805W5 11/01/2025 8544.68109/09/2019 148,806.00 1.888 1.914159,117.91
State of Mississippi2189 MUN 250,000.006055805V7 11/01/2024 4894.51112/19/2019 247,120.00 2.079 2.108257,573.29
State of Mississippi2329 MUN 1,000,000.00605581LJ4 11/01/2023 1233.40803/20/2020 993,190.00 1.626 1.6491,005,717.96
State of Mississippi2626 MUN 1,000,000.00605581QR1 10/01/2031 3,0142.11712/09/2021 826,830.00 1.992 2.0201,007,214.78
State of Mississippi2629 MUN 250,000.00605581LL9 11/01/2025 8543.64612/06/2021 242,410.00 1.080 1.095264,526.62
State of Mississippi2713 MUN 1,000,000.00605581FF9 10/01/2032 3,3803.72910/21/2022 926,450.00 4.961 5.030910,964.36
City of Napa Solid Waste2055 MUN 595,000.00630337AL7 08/01/2024 3972.20008/08/2019 573,466.95 1.968 1.996596,245.02
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 18
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
New York St Envrnmntl Facs2007 MUN 450,000.0064985HWS2 07/15/2024 3802.12001/04/2019 433,750.50 2.860 2.900446,652.60
New York State Urban Dev Corp.2097 MUN 700,000.006500357D4 03/15/2026 9883.07009/09/2019 664,314.00 2.071 2.100717,082.78
New York State Urban Dev Corp.2683 MUN 1,000,000.00650036AV8 03/15/2027 1,3531.49603/28/2022 885,540.00 2.777 2.816954,635.04
New York State Envrnmntl Corp2146 MUN 1,500,000.00649791PQ7 02/15/2025 5952.12010/31/2019 1,425,090.00 2.063 2.0911,500,675.97
New York State Envrnmntl Corp2224 MUN 580,000.00649791PS3 02/15/2027 1,3252.36001/30/2020 533,576.80 1.933 1.960587,810.83
New York State Envrnmntl Corp2575 MUN 1,500,000.00649791PR5 02/15/2026 9602.26009/13/2021 1,398,585.00 0.794 0.8051,556,106.33
New York State Envrnmntl Corp2677 MUN 1,000,000.00649791PS3 02/15/2027 1,3252.36003/16/2022 919,960.00 2.325 2.3581,000,058.97
New York State Envrnmntl Corp2678 MUN 1,000,000.00649791PS3 02/15/2027 1,3252.36003/21/2022 919,960.00 2.367 2.400998,625.03
City of Oakland2293 MUN 1,500,000.00672240WY0 01/15/2030 2,3902.11003/09/2020 1,283,925.00 1.436 1.4561,559,467.38
City of Oakland2307 MUN 1,500,000.00672240WY0 01/15/2030 2,3902.11003/13/2020 1,283,925.00 1.638 1.6611,540,463.94
City of Oakland2313 MUN 1,080,000.00672240WY0 01/15/2030 2,3902.11003/16/2020 924,426.00 2.247 2.2791,069,289.07
City of Oakland2316 MUN 1,500,000.00672240WX2 01/15/2029 2,0252.07003/16/2020 1,310,280.00 2.151 2.1811,491,532.24
City of Oakland Pension2630 MUN 450,000.00672319CF5 12/15/2025 8984.67612/06/2021 444,303.00 1.562 1.584482,966.61
Ohlone Community College Distr2165 MUN 600,000.00677765GY9 08/01/2027 1,4922.23711/22/2019 545,316.00 2.271 2.303598,515.67
Ohlone Community College Distr2175 MUN 280,000.00677765GY9 08/01/2027 1,4922.23712/06/2019 254,480.80 2.327 2.360278,718.14
Ohlone Community College Distr2179 MUN 970,000.00677765HA0 08/01/2029 2,2232.33712/11/2019 850,166.20 2.382 2.415965,898.33
Ohlone Community College Distr2341 MUN 1,185,000.00677765GZ6 08/01/2028 1,8582.28705/08/2020 1,058,797.50 1.849 1.8751,207,871.14
State of Ohio1832 MUN 900,000.006775207G7 04/01/2024 2754.97106/30/2017 895,860.00 2.416 2.450915,591.58
State of Ohio2308 MUN 500,000.00677521CT1 09/01/2026 1,1585.26203/13/2020 505,810.00 1.710 1.734552,612.37
City of Ontario (Pub Fin Auth)2847 MUN 600,000.00683050BW7 08/01/2026 1,1271.44003/17/2023 540,402.00 4.339 4.400549,611.12
Orange Cnty Water District2578 MUN 315,000.0068442CCY0 08/15/2025 7762.09509/16/2021 295,756.65 0.690 0.700324,182.31
Orchard School District1910 MUN 200,000.00685585FD8 08/01/2027 1,4923.12501/25/2018 193,374.00 3.208 3.253199,126.70
State of Oregon1974 MUN 500,000.0068607LXQ5 06/01/2027 1,4315.89211/06/2018 509,955.00 3.516 3.565533,329.88
State of Oregon2015 MUN 445,000.0068607LXQ5 06/01/2027 1,4315.89201/16/2019 453,859.95 3.537 3.587479,425.47
State of Oregon2223 MUN 570,000.0068609TDT2 05/01/2024 3053.22701/30/2020 559,352.40 1.641 1.664577,134.87
State of Oregon2230 MUN 495,000.0068607LXQ5 06/01/2027 1,4315.89201/31/2020 504,855.45 2.583 2.619552,369.37
State of Oregon2266 MUN 1,000,000.0068607LXQ5 06/01/2027 1,4315.89202/24/2020 1,019,910.00 2.482 2.5171,120,078.98
State of Oregon2310 MUN 350,000.0068609BXT9 05/01/2027 1,4003.08003/13/2020 330,235.50 1.302 1.320372,451.59
State of Oregon2378 MUN 355,000.0068609TVS4 06/01/2030 2,5271.67207/02/2020 293,776.70 1.433 1.452359,993.12
State of Oregon2542 MUN 870,000.0068608KA24 08/01/2030 2,5885.33207/01/2021 906,531.30 1.943 1.9701,058,784.85
State of Oregon2549 MUN 1,225,000.0068609TU30 08/01/2028 1,8581.48407/08/2021 1,047,558.75 1.134 1.1501,244,913.93
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 19
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
State of Oregon2584 MUN 265,000.0068609TT81 08/01/2025 7620.80309/24/2021 241,899.95 0.690 0.700265,558.85
State of Oregon2624 MUN 250,000.0068609TZT8 08/01/2026 1,1270.98411/19/2021 221,902.50 1.292 1.310247,569.41
State of Oregon2627 MUN 900,000.0068609T3M8 11/01/2031 3,0452.03711/26/2021 740,664.00 2.020 2.048899,184.34
State of Oregon2679 MUN 1,000,000.0068607LXQ5 06/01/2027 1,4315.89204/01/2022 1,019,910.00 3.259 3.3041,092,430.81
Oxnard Union High School Distr2859 MUN 500,000.00692039QX1 08/01/2027 1,4921.51203/23/2023 438,085.00 4.458 4.520444,804.69
City of Pacifica2138 MUN 1,015,000.0069511AAS3 06/01/2025 7012.56310/23/2019 959,144.55 2.469 2.5031,016,058.51
City of Pacifica2139 MUN 580,000.0069511AAT1 06/01/2026 1,0662.66310/23/2019 539,179.60 2.611 2.647580,230.49
Pasadena CA Public Finance Aut1985 MUN 665,000.00702274CP4 12/01/2023 1533.43812/06/2018 659,440.60 3.205 3.250665,476.80
Pasadena CA Public Finance Aut2573 MUN 120,000.0070227RBM1 05/01/2026 1,0351.98409/09/2021 110,176.80 0.903 0.915123,549.75
Pasadena CA Public Finance Aut2615 MUN 550,000.00702274CS8 12/01/2026 1,2493.50012/01/2021 524,463.50 1.380 1.400587,981.72
Palo Alto Unified School Dist.2838 MUN 1,500,000.00697379TV7 07/01/2027 1,4615.86202/17/2023 1,546,500.00 4.698 4.7641,558,748.16
Palo Alto Unified School Dist.2839 MUN 1,500,000.00697379TV7 07/01/2027 1,4615.86202/21/2023 1,546,500.00 4.683 4.7481,559,613.25
Palo Alto Unified School Dist.2841 MUN 1,480,000.00697379TV7 07/01/2027 1,4615.86203/06/2023 1,525,880.00 4.941 5.0101,524,734.64
Polomar Community Clge Distri2582 MUN 1,000,000.00697511FU2 08/01/2026 1,1271.03110/13/2021 890,200.00 1.016 1.0311,000,000.00
Polomar Community Clge Distri2676 MUN 335,000.00697511FD0 08/01/2026 1,1271.19903/15/2022 299,804.90 2.288 2.320324,047.41
Rancho Water Dist. Fin. Auth.2889 MUN 600,000.00752111HE7 08/01/2030 2,5885.12505/03/2023 618,648.00 4.284 4.344628,159.51
Redondo Beach Unified School D2388 MUN 750,000.00757710UE6 08/01/2030 2,5881.66008/06/2020 605,550.00 1.439 1.459759,916.27
Redondo Beach Unified School D2763 MUN 715,000.00757710UE6 08/01/2030 2,5881.66012/14/2022 577,291.00 4.783 4.850581,286.15
City of Redondo Beach2724 MUN 725,000.00757696AX7 05/01/2031 2,8612.19111/07/2022 584,176.00 5.917 6.000557,383.13
State of Rhode Island2192 MUN 260,000.0076222RYN6 01/15/2025 5642.00012/20/2019 247,475.80 2.231 2.262259,828.73
State of Rhode Island2219 MUN 1,500,000.0076222RXB3 04/01/2028 1,7363.25001/27/2020 1,414,845.00 2.077 2.1061,574,458.19
State of Rhode Island2239 MUN 550,000.0076222RXB3 04/01/2028 1,7363.25002/06/2020 518,776.50 1.990 2.018579,522.41
Riverside Cmnty College Distt.2596 MUN 1,365,000.0076886PJP9 08/01/2026 1,1271.12410/04/2021 1,211,887.95 1.006 1.0201,369,256.73
Riverside Cmnty College Distt.2733 MUN 560,000.0076886PJS3 08/01/2029 2,2231.78511/17/2022 469,352.80 5.022 5.092465,550.94
Rancho Santiago Comm College D2522 MUN 450,000.00752147HH4 09/01/2024 4280.63403/29/2021 425,007.00 0.625 0.633450,000.00
Rancho Santiago Comm College D2805 MUN 635,000.00752147HK7 09/01/2026 1,1580.95601/19/2023 562,565.55 4.164 4.222574,675.00
Redwood City School District2130 MUN 1,000,000.00757889EH9 08/01/2027 1,4922.28410/16/2019 910,580.00 2.252 2.2841,000,000.00
Redwood City School District2253 MUN 1,095,000.00757889EG1 08/01/2026 1,1272.15902/13/2020 1,009,874.70 1.727 1.7511,107,963.76
City of Santa Ana2603 MUN 175,000.00801139AE6 08/01/2026 1,1271.17610/18/2021 154,257.25 1.223 1.240174,665.16
City of Santa Ana2747 MUN 1,250,000.00801139AF3 08/01/2027 1,4921.46512/02/2022 1,078,400.00 5.178 5.2501,080,542.88
Santa Barbara Unified School D2385 MUN 490,000.00801315KU5 08/01/2029 2,2231.65307/21/2020 411,938.10 1.483 1.504494,124.01
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 20
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
San Bernardino Cmty College Di2166 MUN 1,500,000.00796720NC0 08/01/2028 1,8582.59012/12/2019 1,362,465.00 2.554 2.5901,500,000.00
San Bernardino Cmty College Di2365 MUN 2,000,000.00796720NV8 08/01/2029 2,2231.84807/07/2020 1,706,560.00 1.822 1.8482,000,000.00
San Bernardino Cmty College Di2723 MUN 500,000.00796720NF3 08/01/2031 2,9532.84011/04/2022 439,600.00 5.482 5.558413,888.23
County of Santa Clara1897 MUN 1,340,000.00801546PH9 08/01/2023 312.50001/11/2018 1,336,877.80 2.436 2.4701,340,030.95
County of Santa Clara1899 MUN 1,460,000.00801546PJ5 08/01/2024 3972.68001/12/2018 1,415,513.80 2.643 2.6801,460,000.00
Santa Clarita Community Colleg2557 MUN 1,250,000.00801686TF3 08/01/2026 1,1271.14608/02/2021 1,117,137.50 0.742 0.7521,264,947.05
Santa Clara Vly Transportation2750 MUN 455,000.0080168NHY8 04/01/2030 2,4661.62212/05/2022 373,791.60 5.030 5.100366,770.30
Santa Clara Valley Water Dist.2181 MUN 1,555,000.0080168ACV7 06/01/2028 1,7972.43412/12/2019 1,405,751.10 2.416 2.4501,553,889.67
Santa Clara Valley Water Dist.2793 MUN 1,000,000.0080168FPC4 06/01/2030 2,5271.63401/12/2023 821,120.00 4.418 4.480833,950.06
Santa Cruz County Capital Fin.1906 MUN 465,000.0080181PCT2 06/01/2024 3362.50001/25/2018 452,007.90 2.968 3.010463,033.21
Santa Cruz County Capital Fin.1907 MUN 465,000.0080181PCU9 06/01/2025 7012.75001/25/2018 441,364.05 3.008 3.050462,617.27
Santa Cruz County Capital Fin.1908 MUN 470,000.0080181PCV7 06/01/2026 1,0663.00001/25/2018 441,616.70 3.107 3.150468,199.04
Santa Cruz County Capital Fin.1909 MUN 280,000.0080181PCW5 06/01/2027 1,4313.00001/25/2018 259,940.80 3.205 3.250277,648.32
Santa Cruz MET Transit Dist.2671 MUN 1,000,000.00801747AF3 08/01/2027 1,4922.47003/03/2022 915,650.00 2.030 2.0581,015,816.84
San Diego Unified Sch District2602 MUN 1,000,000.00797356DL3 07/01/2031 2,9221.98410/21/2021 820,760.00 1.824 1.8501,009,762.29
San Diego Unified Sch District2606 MUN 900,000.00797356DL3 07/01/2031 2,9221.98410/23/2021 738,684.00 2.024 2.053895,541.28
San Diego Unified Sch District2617 MUN 270,000.00797356DH2 07/01/2028 1,8271.59911/17/2021 229,967.10 1.712 1.736268,257.01
San Diego Unified Sch District2693 MUN 260,000.00797356DF6 07/01/2026 1,0961.20109/23/2022 233,360.40 4.053 4.110239,173.66
San Diego Unified Sch District2767 MUN 1,000,000.00797356DH2 07/01/2028 1,8271.59912/16/2022 851,730.00 4.241 4.300880,956.39
San Diego Community College Di2550 MUN 255,000.00797272QS3 08/01/2027 1,4922.40707/09/2021 234,862.65 1.007 1.021268,958.09
San Diego Community College Di2639 MUN 1,980,000.00797272RN3 08/01/2026 1,1271.44512/28/2021 1,796,770.80 1.193 1.2101,993,907.43
San Diego Community College Di2651 MUN 500,000.00797272RT0 08/01/2031 2,9532.11301/10/2022 419,900.00 2.120 2.150498,651.13
San Diego Regl Trans Commissio2632 MUN 200,000.00797400MR6 04/01/2026 1,0051.03612/08/2021 179,822.00 1.292 1.310198,537.49
San Diego Cnty Wtr Authority2580 MUN 875,000.00797412DN0 05/01/2026 1,0350.97109/17/2021 784,630.00 0.887 0.900876,716.35
San Diego Cnty Wtr Authority2600 MUN 210,000.00797412DM2 05/01/2025 6700.74310/08/2021 193,657.80 0.838 0.850209,594.89
San Diego Cnty Wtr Authority2604 MUN 250,000.00797412DN0 05/01/2026 1,0350.97110/20/2021 224,180.00 1.134 1.150248,766.43
San Diego Cnty Wtr Authority2623 MUN 750,000.00797412DN0 05/01/2026 1,0350.97111/19/2021 672,540.00 1.282 1.300743,223.88
San Diego Cnty Wtr Authority2688 MUN 1,275,000.00797412DQ3 05/01/2028 1,7661.33109/12/2022 1,094,052.00 3.945 4.0001,129,020.73
San Diego Cnty Wtr Authority2716 MUN 225,000.00797412DR1 05/01/2029 2,1311.43110/24/2022 188,448.75 5.079 5.150183,978.87
San Diego Cnty Wtr Authority2722 MUN 320,000.00797412DS9 05/01/2030 2,4961.53111/03/2022 262,262.40 5.207 5.280253,015.06
City of San Diego Water Fin. A2788 MUN 505,000.0079730CJQ8 08/01/2031 2,9532.28301/06/2023 426,780.55 4.835 4.902418,541.87
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 21
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
San Dieguito Union High Sch Di2536 MUN 430,000.00797508JW9 08/01/2026 1,1271.07406/09/2021 383,422.40 1.059 1.074430,000.00
San Dieguito Union High Sch Di2537 MUN 435,000.00797508JX7 08/01/2027 1,4921.37206/09/2021 381,120.90 1.353 1.372435,000.00
San Dieguito Union High Sch Di2674 MUN 435,000.00797508HF8 08/01/2026 1,1271.86003/11/2022 397,516.05 2.070 2.099431,950.10
Sequoia Union High School Dist2320 MUN 400,000.00817409N35 07/01/2025 7311.73503/18/2020 372,928.00 1.381 1.400402,572.78
Sequoia Union High School Dist2531 MUN 250,000.00817409N76 07/01/2029 2,1922.10304/30/2021 215,272.50 1.658 1.681255,875.55
City & County of San Francisco1509 MUN 1,000,000.00797646NC6 06/15/2025 7155.45011/27/2015 995,730.00 3.067 3.1101,039,324.07
City & County of San Francisco1711 MUN 2,105,000.00797646T48 06/15/2025 7152.29011/01/2016 1,977,373.85 2.219 2.2492,106,480.01
City & County of San Francisco1712 MUN 245,000.00797646T55 06/15/2026 1,0802.39011/01/2016 226,576.00 2.376 2.410244,869.81
City & County of San Francisco1839 MUN 230,000.00797646T48 06/15/2025 7152.29007/14/2017 216,055.10 2.682 2.720228,269.48
City & County of San Francisco2014 MUN 1,420,000.00797646ND4 06/15/2026 1,0805.60001/16/2019 1,429,741.20 3.304 3.3501,502,982.35
City & County of San Francisco2148 MUN 1,120,000.007976466C5 06/15/2029 2,1762.10010/31/2019 982,822.40 2.337 2.3691,103,966.05
City & County of San Francisco2762 MUN 575,000.007976466F8 06/15/2032 3,2722.35012/14/2022 482,948.25 4.744 4.810474,273.80
City & County of San Francisco2864 MUN 1,000,000.0079773KKQ6 06/15/2025 7156.00004/11/2023 1,015,990.00 4.146 4.2031,033,233.47
City & County of San Francisco2883 MUN 500,000.0079773KKT0 06/15/2028 1,8116.00004/21/2023 530,935.00 4.273 4.332536,699.98
San Francisco Cmnty Facs Dist1937 MUN 680,000.0079772EBC2 09/01/2027 1,5233.25003/02/2018 636,364.40 3.451 3.499674,030.89
San Francisco Cmnty Facs Dist2132 MUN 350,000.0079772ECL1 09/01/2029 2,2543.64810/11/2019 326,431.00 2.398 2.431373,208.46
San Francisco Cmnty Facs Dist2309 MUN 130,000.0079772ECJ6 09/01/2027 1,5233.46803/13/2020 122,709.60 1.577 1.599139,505.41
San Francisco Cmnty Facs Dist2571 MUN 300,000.0079772ECF4 09/01/2024 4283.10808/30/2021 291,096.00 0.741 0.752308,171.76
San Francisco Cmnty Facs Dist2608 MUN 575,000.0079772EDY2 09/01/2031 2,9842.59111/03/2021 485,472.50 2.305 2.337585,598.85
San Francisco Cmnty Facs Dist2628 MUN 1,295,000.0079772EDA4 09/01/2026 1,1582.23611/29/2021 1,186,997.00 1.425 1.4451,326,226.77
SF Bay Area Rapid Transit Dist2029 MUN 200,000.00797669XW3 07/01/2023 02.62102/25/2019 200,000.00 2.672 2.710200,000.00
SF Bay Area Rapid Transit Dist2572 MUN 500,000.00797669ZJ0 07/01/2024 3661.97109/08/2021 481,965.00 0.419 0.425507,692.41
SF Bay Area Rapid Transit Dist2636 MUN 480,000.00797669ZR2 07/01/2031 2,9222.76812/16/2021 414,422.40 1.846 1.872511,372.42
SF Bay Area Rapid Transit Dist2638 MUN 600,000.00797669XW3 07/01/2023 02.62112/20/2021 600,000.00 0.572 0.580600,000.00
SF Bay Area Rapid Transit Dist2766 MUN 405,000.00797669ZR2 07/01/2031 2,9222.76812/15/2022 349,668.90 4.832 4.899349,087.67
Sierra Joint Com. College Dist2501 MUN 585,000.00826239GD1 08/01/2029 2,2231.44503/09/2021 485,438.85 1.425 1.445585,000.00
Sierra Joint Com. College Dist2535 MUN 500,000.00826239GD1 08/01/2029 2,2231.44505/27/2021 414,905.00 1.461 1.481498,958.56
Silicon Valley Clean Water2828 MUN 245,000.0082707BDP1 08/01/2027 1,4921.38002/10/2023 213,894.80 4.301 4.361218,173.18
San Juan Unified School Dist2707 MUN 545,000.00798306WQ5 08/01/2026 1,1271.20110/17/2022 487,197.30 4.586 4.650492,408.38
City of San Jose2656 MUN 350,000.00798135E96 09/01/2026 1,1582.50001/28/2022 325,689.00 1.686 1.710358,383.10
San Jose Financing Authority2622 MUN 345,000.00798153NF5 06/01/2026 1,0661.31111/18/2021 310,472.40 1.459 1.480343,360.67
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 22
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
San Jose Evergreen Cmnty Colll1966 MUN 315,000.00798189PK6 09/01/2027 1,5233.72810/29/2018 304,157.70 3.676 3.727315,000.00
San Jose Evergreen Cmnty Colll2105 MUN 500,000.00798189QA7 08/01/2028 1,8582.35010/01/2019 449,840.00 2.317 2.350500,000.00
San Jose Unified School Dist.1435 MUN 580,000.00798186C83 08/01/2023 312.50001/29/2015 578,648.60 2.663 2.700579,914.14
San Jose Unified School Dist.2518 MUN 1,000,000.00798186N81 08/01/2025 7620.55803/15/2021 910,090.00 0.739 0.750996,069.16
San Jose Unified School Dist.2700 MUN 990,000.00798186P30 08/01/2028 1,8581.22410/07/2022 838,737.90 4.487 4.550844,363.20
San Jose Unified School Dist.2774 MUN 850,000.00798186P22 08/01/2027 1,4921.01412/21/2022 735,003.50 4.341 4.401744,620.48
Santa Maria JT Union High Sch2706 MUN 455,000.00802309NY6 08/01/2026 1,1271.50810/17/2022 409,231.55 4.586 4.650414,999.60
Santa Monica Cmnty College Dis2091 MUN 315,000.00802385RC0 08/01/2028 1,8583.47209/05/2019 297,180.45 1.972 2.000336,490.11
Santa Monica Cmnty College Dis2481 MUN 570,000.00802385RV8 08/01/2030 2,5881.69601/22/2021 466,545.00 1.499 1.520576,595.38
Santa Monica Cmnty College Dis2482 MUN 600,000.00802385RT3 08/01/2028 1,8581.49601/22/2021 513,168.00 1.085 1.100611,569.90
Santa Monica Cmnty College Dis2810 MUN 850,000.00802385RS5 08/01/2027 1,4921.24401/23/2023 739,296.00 3.965 4.020762,688.50
Santa Monica-Malibu USD2561 MUN 650,000.00802498VW2 07/01/2026 1,0960.98908/12/2021 580,443.50 0.877 0.890651,883.71
Santa Monica-Malibu USD2637 MUN 215,000.00802498ZA6 08/01/2026 1,1270.84912/20/2021 190,629.75 1.193 1.210212,678.16
Santa Monica-Malibu USD2752 MUN 865,000.00802498WA9 07/01/2030 2,5571.51012/07/2022 704,654.95 4.862 4.930693,880.90
Santa Monica-Malibu USD2792 MUN 825,000.00802498ZF5 08/01/2031 2,9531.62401/09/2023 658,473.75 4.694 4.760654,859.89
San Mateo Cnty Comm. College D2521 MUN 2,000,000.00799038NP5 09/01/2024 4280.50004/14/2021 1,887,020.00 0.444 0.4502,001,152.67
San Mateo Cnty Comm. College D2523 MUN 1,500,000.00799038NP5 09/01/2024 4280.50004/14/2021 1,415,265.00 0.444 0.4501,500,864.50
San Mateo Foster City SCH Dist1902 MUN 1,000,000.00799017UW6 09/01/2025 7932.69901/16/2018 951,300.00 2.786 2.825997,553.44
San Mateo Foster City SCH Dist1940 MUN 1,000,000.00799017UW6 09/01/2025 7932.69903/09/2018 951,300.00 2.959 3.000994,193.46
San Mateo Foster City SCH Dist2153 MUN 1,360,000.00799017WD6 09/01/2028 1,8892.23711/07/2019 1,214,520.80 2.447 2.4801,344,686.26
San Mateo Foster City SCH Dist2178 MUN 1,565,000.00799017VM7 09/01/2028 1,8892.54212/11/2019 1,419,282.85 2.311 2.3431,579,396.90
San Mateo Foster City SCH Dist2567 MUN 500,000.00799017XW3 09/01/2026 1,1580.92509/21/2021 443,865.00 0.912 0.925500,000.00
San Mateo Foster City SCH Dist2585 MUN 175,000.00799055QV3 08/01/2026 1,1271.79909/27/2021 159,853.75 0.897 0.910179,681.38
San Mateo Foster City SCH Dist2591 MUN 1,260,000.00799055ME5 08/01/2026 1,1276.00009/29/2021 1,286,699.40 2.297 2.3291,394,079.33
San Mateo Foster City SCH Dist2782 MUN 425,000.00799017WE4 09/01/2029 2,2542.33712/22/2022 373,961.75 4.685 4.750371,347.00
Solano Cnty Community Clg Dist2176 MUN 1,150,000.0083412PFQ0 08/01/2028 1,8582.71712/09/2019 1,036,552.50 2.462 2.4961,161,516.59
Solano Cnty Community Clg Dist2579 MUN 750,000.0083412PHQ8 08/01/2026 1,1271.02510/06/2021 662,805.00 1.011 1.025750,000.00
Solano Cnty Community Clg Dist2583 MUN 200,000.0083412PGZ9 08/01/2026 1,1271.02510/06/2021 176,748.00 0.887 0.900200,751.09
Solano Cnty Community Clg Dist2594 MUN 390,000.0083412PHE5 08/01/2031 2,9531.86110/06/2021 310,584.30 1.948 1.975386,725.32
Solano Cnty Community Clg Dist2597 MUN 750,000.0083412PHU9 08/01/2030 2,5881.76110/06/2021 608,850.00 1.834 1.860745,163.03
Solano Cnty Community Clg Dist2598 MUN 825,000.0083412PHW5 08/01/2031 2,9531.86110/06/2021 657,005.25 1.879 1.905822,316.05
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 23
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
Solano Cnty Community Clg Dist2649 MUN 350,000.0083412PHB1 08/01/2028 1,8581.47901/07/2022 296,240.00 1.775 1.800344,632.70
Solano Cnty Community Clg Dist2702 MUN 315,000.0083412PFT4 08/01/2031 2,9532.86710/11/2022 271,731.60 5.079 5.150268,719.30
Sonoma Cnty Jr. College Distr.2577 MUN 155,000.00835569GT5 08/01/2026 1,1272.44709/15/2021 143,999.65 0.843 0.855162,435.58
South Pasadena Unified School1914 MUN 180,000.00839278JM1 08/01/2027 1,4923.00002/15/2018 168,627.60 3.057 3.100179,365.53
South Pasadena Unified School2161 MUN 370,000.00839278KC1 08/01/2029 2,2235.00012/12/2019 375,812.70 2.598 2.634416,754.01
South Pasadena Unified School2162 MUN 250,000.00839278KB3 08/01/2028 1,8585.00012/12/2019 253,690.00 2.549 2.584277,355.82
South Pasadena Unified School2163 MUN 145,000.00839278KA5 08/01/2027 1,4925.00012/12/2019 146,465.95 2.500 2.534158,196.85
South Pasadena Unified School2164 MUN 390,000.00839278JZ2 08/01/2026 1,1275.00012/12/2019 390,912.60 2.378 2.411418,605.10
San Rafael City High Sch Distr2150 MUN 1,755,000.00799289MR1 08/01/2024 3971.96511/13/2019 1,691,820.00 1.938 1.9651,755,000.00
San Ramon Vly Unif Sch Dist.2605 MUN 1,500,000.007994082K4 08/01/2030 2,5881.91411/03/2021 1,263,390.00 1.805 1.8301,508,189.49
San Ramon Vly Unif Sch Dist.2813 MUN 935,000.00799408Z93 08/01/2026 1,1271.03401/26/2023 836,366.85 4.044 4.100853,448.78
Sunnyvale Elementary Sch Distr2100 MUN 135,000.00867578UT1 09/01/2028 1,8892.19009/19/2019 119,812.50 2.157 2.187135,000.00
Sunnyvale Elementary Sch Distr2101 MUN 135,000.00867578US3 09/01/2027 1,5232.09009/19/2019 121,753.80 2.061 2.090135,000.00
Tracy Unified School District2493 MUN 500,000.00892404CN2 08/01/2029 2,2231.64402/08/2021 422,395.00 1.437 1.457505,322.57
Temecula Valley Unified School2539 MUN 250,000.0087970GPS0 08/01/2028 1,8581.50306/16/2021 212,575.00 1.482 1.503250,000.00
Temecula Valley Unified School2569 MUN 355,000.0087970GPQ4 08/01/2026 1,1271.05108/27/2021 314,636.50 0.887 0.900356,612.63
State of Tennessee1673 MUN 1,000,000.00880541XY8 08/01/2026 1,1272.11608/25/2016 926,760.00 1.923 1.9501,004,628.10
State of Tennessee1674 MUN 1,650,000.00880541XX0 08/01/2025 7622.06608/25/2016 1,554,498.00 1.893 1.9201,654,593.02
State of Tennessee1676 MUN 700,000.00880541XX0 08/01/2025 7622.06608/25/2016 659,484.00 1.893 1.920701,948.55
State of Tennessee2001 MUN 205,000.00880541QU4 08/01/2024 3973.72812/20/2018 201,400.20 2.860 2.900206,684.45
City of Torrance JT PWRS Fin A2795 MUN 445,000.00891371BB1 06/01/2032 3,2582.63701/12/2023 369,924.05 5.001 5.070368,906.19
Tustin Unif Sch Dist Facs Impt2715 MUN 650,000.00901072LD8 08/01/2027 1,4921.14510/24/2022 557,544.00 4.783 4.850563,125.74
Tustin Unif Sch Dist Facs Impt2720 MUN 295,000.00901072MB1 08/01/2031 2,9531.75410/31/2022 232,002.75 5.543 5.620222,950.16
Tustin Unif Sch Dist Facs Impt2758 MUN 205,000.00901072MB1 08/01/2031 2,9531.75412/09/2022 161,222.25 4.843 4.910162,787.19
Tustin Unif Sch Dist Facs Impt2814 MUN 500,000.00901072LX4 08/01/2027 1,4921.14501/26/2023 428,880.00 4.098 4.155444,483.75
State of Texas2195 MUN 1,500,000.008827237P8 10/01/2025 8233.05112/23/2019 1,435,155.00 1.975 2.0031,533,222.47
State of Texas2225 MUN 940,000.008827237T0 10/01/2029 2,2843.52101/30/2020 882,970.20 2.191 2.2211,008,353.20
State of Texas2255 MUN 1,265,000.008827237T0 10/01/2029 2,2843.52102/14/2020 1,188,252.45 2.192 2.2221,356,946.93
State of Texas2311 MUN 250,000.008827237N3 10/01/2024 4582.89903/16/2020 242,405.00 1.231 1.248254,999.54
State of Texas2541 MUN 245,000.008827235K1 10/01/2025 8232.92206/30/2021 234,246.95 0.641 0.650257,332.16
State of Texas2548 MUN 1,000,000.00882724RF6 10/01/2030 2,6492.42607/02/2021 869,210.00 1.480 1.5011,062,384.41
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 24
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Municipal Bonds
State of Texas2631 MUN 500,000.00882723A90 10/01/2025 8232.83112/07/2021 475,785.00 1.030 1.045519,642.79
University of California2077 MUN 1,500,000.0091412GQG3 05/15/2025 6843.05008/26/2019 1,439,250.00 1.930 1.9571,528,876.60
University of California2095 MUN 1,000,000.0091412GQG3 05/15/2025 6843.05009/09/2019 959,500.00 1.797 1.8211,021,741.94
University of California2685 MUN 440,000.0091412HGF4 05/15/2027 1,4141.31604/05/2022 390,117.20 3.028 3.070412,532.14
University of California2866 MUN 230,000.0091412HJN4 05/15/2027 1,4141.27204/05/2023 201,480.00 4.311 4.371204,978.64
State of Utah1731 MUN 285,000.00917542QR6 07/01/2024 3664.55401/04/2017 282,534.75 2.904 2.944289,088.40
State of Utah2306 MUN 1,101,100.00917542QV7 07/01/2025 7313.53903/13/2020 1,080,002.92 1.948 1.9751,133,630.23
Vacaville Unified School Distr2726 MUN 250,000.00918608UR9 08/01/2030 2,5881.73911/10/2022 204,470.00 5.513 5.590195,222.22
State of Washington1802 MUN 485,000.0093974CRC6 08/01/2024 3974.66905/23/2017 480,727.15 2.416 2.450495,627.63
State of Washington2196 MUN 500,000.0093974CRC6 08/01/2024 3974.66912/24/2019 495,595.00 1.978 2.005513,713.55
State of Wisconsin2547 MUN 2,000,000.0097705MNU5 05/01/2031 2,8612.45107/02/2021 1,714,240.00 1.553 1.5752,126,664.93
State of Wisconsin2574 MUN 1,500,000.0097705MNP6 05/01/2026 1,0352.08909/09/2021 1,394,340.00 0.739 0.7501,555,819.38
State of Wisconsin2576 MUN 1,000,000.0097705MNP6 05/01/2026 1,0352.08909/13/2021 929,560.00 0.769 0.7801,036,348.20
State of Wisconsin 22822 MUN 865,000.00977100AC0 05/01/2026 1,0355.70001/30/2023 871,435.60 5.039 5.109878,125.25
Yosemite Community College Dis2657 MUN 1,000,000.00987388GX7 08/01/2027 1,4922.08202/17/2022 909,070.00 2.053 2.0821,000,000.00
Yosemite Community College Dis2687 MUN 500,000.00987388GX7 08/01/2027 1,4922.08209/02/2022 454,535.00 3.846 3.900466,511.59
Subtotal and Average 235,380,200.94 237,096,100.00 217,658,954.27 2.502 2.536 1,456
Supranationals (World Bank) Bonds
Inter-American Dev. Bank2528 IADB 2,000,000.004581X0DV7 04/20/2026 1,0240.87504/20/2021 1,804,220.00 0.910 0.9231,997,365.39
Inter-American Dev. Bank2586 IADB 2,000,000.0045818WDH6 06/17/2026 1,0820.80009/27/2021 1,786,400.00 0.914 0.9271,992,644.94
Inter-American Dev. Bank2652 IADB 1,000,000.004581X0EB0 01/13/2027 1,2921.50001/13/2022 902,110.00 1.504 1.525999,137.87
Inter-American Dev. Bank2655 IADB 1,000,000.004581X0EB0 01/13/2027 1,2921.50001/14/2022 902,110.00 1.518 1.540998,642.45
Intl Bk Recon & Development1982 IBRD 1,000,000.00459058GL1 09/27/2023 883.00011/27/2018 994,270.00 3.018 3.060999,866.45
Intl Bk Recon & Development2470 IBRD 1,500,000.00459058JL8 10/28/2025 8500.50001/08/2021 1,361,460.00 0.480 0.4871,500,433.98
Intl Bk Recon & Development2492 IBRD 1,500,000.00459058JS3 02/10/2026 9550.65002/10/2021 1,340,130.00 0.641 0.6501,500,000.00
Intl Bk Recon & Development2497 IBRD 1,500,000.0045905U5Y6 02/18/2026 9630.60002/18/2021 1,336,665.00 0.591 0.6001,500,000.00
Intl Bk Recon & Development2498 IBRD 1,500,000.00459058JL8 10/28/2025 8500.50002/18/2021 1,361,460.00 0.591 0.6001,496,565.58
Intl Bk Recon & Development2510 IBRD 1,500,000.00459058JL8 10/28/2025 8500.50003/01/2021 1,361,460.00 0.787 0.7981,489,810.76
Intl Bk Recon & Development2534 IBRD 1,500,000.00459058JS3 02/10/2026 9550.65005/26/2021 1,340,130.00 0.833 0.8451,492,534.28
Intl Bk Recon & Development2553 IBRD 1,500,000.00459058JS3 02/10/2026 9550.65007/15/2021 1,340,130.00 0.839 0.8511,492,293.92
Intl Bk Recon & Development2559 IBRD 1,500,000.00459058JS3 02/10/2026 9550.65008/12/2021 1,340,130.00 0.871 0.8831,491,074.57
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
June 30, 2023
Par Value
Days To
Maturity
Maturity
Date
Current
RateMarket Value
Fund ALL - Portfolio Listings
Investments by Fund Page 25
CUSIP Investment #Issuer
Purchase
Date Book Value
YTM
360
YTM
365
Supranationals (World Bank) Bonds
Intl Bk Recon & Development2650 IBRD 1,000,000.0045906M2L4 02/24/2026 9690.65001/07/2022 891,850.00 1.368 1.387981,093.81
Intl Bk Recon & Development2673 IBRD 1,000,000.0045906M2Z3 03/17/2025 6252.05003/17/2022 948,270.00 2.107 2.136998,574.07
Intl Bk Recon & Development2735 IBRD 2,000,000.0045906M3K5 09/30/2027 1,5524.50011/22/2022 1,965,178.00 4.684 4.7491,981,193.65
Intl Bk Recon & Development2736 IBRD 1,000,000.0045906M2L4 02/24/2026 9690.65011/23/2022 891,850.00 4.480 4.542905,188.30
Intl Bk Recon & Development2744 IBRD 1,500,000.0045906M3K5 09/30/2027 1,5524.50012/01/2022 1,473,883.50 4.681 4.7461,486,020.07
Intl Bk Recon & Development2775 IBRD 1,000,000.00459058JN4 11/24/2027 1,6070.75012/21/2022 858,590.00 3.807 3.860876,533.14
Intl Bk Recon & Development2779 IBRD 1,500,000.00459058JT1 02/10/2027 1,3200.85012/22/2022 1,318,215.00 4.241 4.3001,330,568.23
Intl Bk Recon & Development2826 IBRD 1,500,000.00459058JT1 02/10/2027 1,3200.85002/10/2023 1,318,215.00 4.310 4.3701,326,921.78
International Finance Corp.2441 IFC 1,000,000.0045950VPE0 10/15/2025 8370.35010/30/2020 876,460.00 0.306 0.3101,000,000.00
International Finance Corp.2454 IFC 1,500,000.0045950VPH3 11/15/2025 8680.35011/30/2020 1,365,360.00 0.296 0.3001,500,000.00
International Finance Corp.2483 IFC 1,500,000.0045950VPJ9 01/15/2026 9290.58001/25/2021 1,346,295.00 0.501 0.5081,502,680.73
International Finance Corp.2502 IFC 1,500,000.0045950VPJ9 01/15/2026 9290.58002/11/2021 1,346,295.00 0.522 0.5301,501,870.25
International Finance Corp.2503 IFC 1,500,000.0045950VPS9 02/26/2026 9710.50002/26/2021 1,339,410.00 0.616 0.6251,495,110.47
International Finance Corp.2514 IFC 2,000,000.0045950VPT7 03/15/2026 9880.50003/15/2021 1,760,740.00 0.808 0.8192,000,000.00
International Finance Corp.2515 IFC 1,500,000.0045950VPU4 03/23/2026 9960.75003/23/2021 1,346,100.00 0.746 0.7571,499,705.40
International Finance Corp.2517 IFC 2,000,000.0045950VPU4 03/23/2026 9960.75003/23/2021 1,794,800.00 0.887 0.9001,992,002.16
International Finance Corp.2532 IFC 1,500,000.0045950VPY6 05/15/2026 1,0490.75005/28/2021 1,362,570.00 0.642 0.6511,500,000.00
International Finance Corp.2654 IFC 1,000,000.0045950KCX6 10/08/2026 1,1950.75001/12/2022 885,210.00 1.518 1.540975,179.28
Subtotal and Average 43,803,011.53 44,500,000.00 40,259,966.50 1.523 1.544 1,030
Total Investments and Average 621,016,759.94 623,225,084.35 570,690,714.86 2.281 2.313 1,302
Portfolio CPA
AP
Run Date: 07/12/2023 - 20:31 FI (PRF_FI) 7.3.11
Report Ver. 7.3.11
1 General Investment Guidelines:Full Compliance
a) The max. stated final maturity of individual securities in the portfolio should be 10 years.
b) A max. of 30 percent of the par value of the portfolio shall be invested in securities with maturities 28.1%
beyond 5 years.
c) The City shall maintain a minimum of one month's cash needs in short term investments.
d) At least $50 million shall be maintained in securities maturing in less than 2 years.
Plus two managed pool accounts which provide instant liquidity:
- Local Agency Investment Fund (LAIF) - maximum investment limit is $75 million $30.8 million
- Fidelity Investments $18.8 million
e) Should market value of the portfolio fall below 95 percent of the book value, report this fact within a 91.9%
reasonable time to the City Council and evaluate if there are risk of holding securities to maturity.
d) Commitments to purchase securities newly introduced on the market shall be made no more than
three (3) working days before pricing.
f) Whenever possible, the City will obtain three or more quotations on the purchase or sale of
comparable securities (excludes new issues, LAIF, City of Palo Alto bonds, money market
accounts, and mutual funds).
2 U.S. Government Securities:Full Compliance
a) There is no limit on purchase of these securities.
b) Securities will not exceed 10 years maturity.
3 U.S. Government Agency Securities:Full Compliance
a) There is no limit on purchase of these securities except for:
Callable and Multi-step-up securities provided that:
- The potential call dates are known at the time of purchase;
- the interest rates at which they "step-up" are known at the time of purchase; and
- the entire face value of the security is redeemed at the call date.
- No more than 25 percent of the par value of portfolio.24.58%
b) Securities will not exceed 10 years maturity.
4 California State, California Local Government Agencies, and other United States State Bonds:Full Compliance
a)Having at time of investment a minimum Double A (AA/Aa2) rating as provided by a nationally
recognized rating service (e.g., Moody’s, Fitch, and/or Standard and Poor’s).
b)May not exceed 40 percent of the par value of the portfolio.37.77%
5 Certificates of Deposit (CD):Full Compliance
a)May not exceed 20 percent of the par value of the portfolio;None Held
b)No more than 10 percent of the par value of the portfolio in collateralized CDs in any institution.
c) Purchase collateralized deposits only from federally insured large banks that are rated by
a nationally recognized rating agency (e.g. Moody's, Fitch, and/or Standard & Poor's).
d) For non-rated banks, deposit should be limited to amounts federally insured (FDIC)
e) Rollovers are not permitted without specific instruction from authorized City staff.
6 Banker's Acceptance Notes (BA):Full Compliance
a)No more than 30 percent of the par value of the portfolio.None Held
b) Not to exceed 180 days maturity.
c) No more than $5 million with any one institution.
Attachment C
Investment Policy Compliance
As of June 30, 2023
Investment Policy Requirements
Compliance
Check / Actual
$109 million
1.28%
Attachment C
Investment Policy Compliance
As of June 30, 2023
Investment Policy Requirements
Compliance
Check / Actual
7 Commercial Paper:Full Compliance
a)No more than 15 percent of the par value of the portfolio.None Held
b) Having highest letter or numerical rating from a nationally recognized rating service.
c) Not to exceed 270 days maturity.
d)No more than $3 million or 10 percent of the outstanding commercial paper of any one institution,
whichever is lesser.
8 Short-Term Repurchase Agreement (REPO):Full Compliance
a) Not to exceed 1 year.None Held
b) Market value of securities that underlay a repurchase agreement shall be valued at 102 percent or
greater of the funds borrowed against those securities.
9 Money Market Deposit Accounts Full Compliance
a) Liquid bank accounts which seek to maintain a net asset value of $1.00.
10 Mutual Funds:Full Compliance
a)No more than 20 percent of the par value of the portfolio.None Held
b)No more than 10 percent of the par value with any one institution.
11 Negotiable Certificates of Deposit (NCD):Full Compliance
a)No more than 20 percent of the par value of the portfolio.7.72%
b) No more than $5 million in any one institution.Federally Insured
12 Medium-Term Corporate Notes:Full Compliance
a)No more than 10 percent of the par value of the portfolio.4.70%
b) Not to exceed 5 years maturity.
c) Securities eligible for investment shall have a minimum rating of AA or Aa2 from a nationally
recognized rating service.
d) No more than $5 million of the par value may be invested in securities of any single issuer, other
than the U.S. Government, its agencies and instrumentality.
e) If securities owned by the City are downgraded by either rating agencies to a level below AA it
shall be the City's policy to review the credit situation and make a determination as to whether
to sell or retain such securities.
13 Supranational Organizations Securities:Full Compliance
a) Securities will not exceed 5 years maturity
b)No more than 20 percent of the par value of the portfolio.7.14%
c)No more than 10 percent in any one institution.Full Compliance
d) Securities eligible for investment shall have a minimum rating of AA or Aa2 from a nationally
recognized rating service.
14 Prohibited Investments:
a) Reverse Repurchase Agreements
b) Derivatives as defined in Appendix B of the Investment Policy
15 All securities shall be delivered to the City's safekeeping custodian, and held in the name of the
City, with the exception of :
- Certificates of Deposit, Mutual Funds, and Local Agency Investment Fund (LAIF)
Full Compliance
None Held
Full Compliance