HomeMy WebLinkAboutStaff Report 2412-3914CITY OF PALO ALTO
CITY COUNCIL
Monday, December 01, 2025
Council Chambers & Hybrid
5:30 PM
Agenda Item
B.Monthly Investment Report - October 2025 (Unaudited)
City Council
Staff Report
Report Type: INFORMATION REPORTS
Lead Department: Administrative Services
Meeting Date: December 1, 2025
Report #:2412-3914
TITLE
Monthly Investment Report - October 2025 (Unaudited)
RECOMMENDATION
This is an Information Report. No Council action is required.
ANALYSIS
The City’s Investment Policy1 (Policy) and California Government Code Section 53607 requires
that a report of transactions (investments, reinvestment, sold, and exchanged securities) be
made available to the Council on a monthly basis.
This reporting requirement is separate and distinct from the quarterly investment report
submitted under California Government Code Section 53646 that includes portfolio
composition, a detailed list of all securities, performance compared to the Policy, overall
compliance with the Policy, and the City’s ability to meet expenditure requirements over the
next six months.
ATTACHMENTS
Attachment A: Investment Portfolio Transaction Ledger – October 2025
APPROVED BY:
Lauren Lai
1 Investment Policy Fiscal Year 2025-2026 (Adopted June 16, 2025);
"https://www.paloalto.gov/files/assets/public/v/2/administrative-services/investment-policies/investment-policy-
fy-2025-2026.pdf"
Bu
y
Ca
l
l
R
e
d
e
m
p
t
i
o
n
Ma
t
u
r
i
t
y
CU
S
I
P
Se
c
u
r
i
t
y
D
e
s
c
r
i
p
t
i
o
n
S
e
c
u
r
i
t
y
T
y
p
e
T
r
a
n
s
a
c
t
i
o
n
Ty
p
e
Se
t
t
l
e
m
e
n
t
D
a
t
e
Qu
a
n
t
i
t
y
Pr
i
c
e
Ac
q
/
D
i
s
p
Y
i
e
l
d
Am
o
u
n
t
P
u
r
c
h
a
s
e
d
/
S
o
l
d
I
n
t
e
r
e
s
t
To
t
a
l
A
m
o
u
n
t
91
2
8
2
C
P
B
1
UN
I
T
E
D
S
T
A
T
E
S
TR
E
A
S
U
R
Y
3
.
5
0
9
/
3
0
/
2
0
2
7
US
G
O
V
Bu
y
10
/
2
8
/
2
0
2
5
5,
0
0
0
,
0
0
0
.
0
0
99
.
9
8
4
3.
5
0
7
-4
,
9
9
9
,
2
1
8
.
7
5
13
,
4
6
1
.
5
4
-5
,
0
1
2
,
6
8
0
.
2
9
91
2
8
2
C
N
E
7
UN
I
T
E
D
S
T
A
T
E
S
TR
E
A
S
U
R
Y
3
.
8
7
5
05
/
3
1
/
2
0
2
7
US
G
O
V
Bu
y
10
/
2
4
/
2
0
2
5
5,
0
0
0
,
0
0
0
.
0
0
1
0
0
.
5
7
0
3.
5
0
4
-5
,
0
2
8
,
5
1
5
.
6
3
77
,
2
8
8
.
2
5
-5
,
1
0
5
,
8
0
3
.
8
8
91
2
8
2
C
M
P
3
UN
I
T
E
D
S
T
A
T
E
S
TR
E
A
S
U
R
Y
4
.
1
2
5
02
/
2
8
/
2
0
2
7
US
G
O
V
Bu
y
10
/
2
4
/
2
0
2
5
5,
0
0
0
,
0
0
0
.
0
0
1
0
0
.
7
7
7
3.
5
2
8
-5
,
0
3
8
,
8
6
7
.
1
9
30
,
7
6
6
.
5
7
-5
,
0
6
9
,
6
3
3
.
7
6
40
1
3
9
L
B
N
2
GU
A
R
D
I
A
N
L
I
F
E
G
L
O
B
A
L
FU
N
D
I
N
G
4
.
3
2
7
1
0
/
0
6
/
2
0
3
0
CO
R
P
Bu
y
10
/
2
4
/
2
0
2
5
2,
5
0
0
,
0
0
0
.
0
0
1
0
0
.
7
5
6
4.
1
5
6
-2
,
5
1
8
,
9
0
0
.
0
0
5,
4
0
8
.
7
5
-2
,
5
2
4
,
3
0
8
.
7
5
--
-
--
-
--
-
Bu
y
10
/
2
5
/
2
0
2
5
17
,
5
0
0
,
0
0
0
.
0
0
--
-
3.
6
0
5
-
1
7
,
5
8
5
,
5
0
1
.
5
7
12
6
,
9
2
5
.
1
1
-1
7
,
7
1
2
,
4
2
6
.
6
8
CU
S
I
P
Se
c
u
r
i
t
y
D
e
s
c
r
i
p
t
i
o
n
S
e
c
u
r
i
t
y
T
y
p
e
T
r
a
n
s
a
c
t
i
o
n
Ty
p
e
Se
t
t
l
e
m
e
n
t
D
a
t
e
Qu
a
n
t
i
t
y
Pr
i
c
e
Ac
q
/
D
i
s
p
Y
i
e
l
d
Am
o
u
n
t
P
u
r
c
h
a
s
e
d
/
S
o
l
d
I
n
t
e
r
e
s
t
To
t
a
l
A
m
o
u
n
t
81
6
1
8
L
A
E
7
Se
l
e
c
t
B
a
n
k
5
.
4
0
3
/
3
1
/
2
0
2
8
C
D
Ca
l
l
Re
d
e
m
p
t
i
o
n
10
/
3
1
/
2
0
2
5
-2
4
9
,
0
0
0
.
0
0
1
0
0
.
0
0
0
5.
3
9
9
24
9
,
0
0
0
.
0
0
0.
0
0
24
9
,
0
0
0
.
0
0
65
5
0
4
U
A
F
4
No
b
l
e
F
e
d
e
r
a
l
C
r
e
d
i
t
U
n
i
o
n
4.
5
1
1
/
0
9
/
2
0
2
6
CD
Ca
l
l
Re
d
e
m
p
t
i
o
n
10
/
0
8
/
2
0
2
5
-2
5
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
4.
4
9
9
25
0
,
0
0
0
.
0
0
0.
0
0
25
0
,
0
0
0
.
0
0
31
3
0
B
3
D
7
5
FE
D
E
R
A
L
H
O
M
E
L
O
A
N
BA
N
K
S
5
.
0
1
0
/
1
7
/
2
0
3
4
AG
C
Y
B
O
N
D
C
a
l
l
Re
d
e
m
p
t
i
o
n
10
/
1
7
/
2
0
2
5
-2
,
0
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
5.
0
0
0
2,
0
0
0
,
0
0
0
.
0
0
0.
0
0
2,
0
0
0
,
0
0
0
.
0
0
31
3
0
B
3
2
V
4
FE
D
E
R
A
L
H
O
M
E
L
O
A
N
BA
N
K
S
4
.
2
5
1
0
/
0
7
/
2
0
3
1
AG
C
Y
B
O
N
D
C
a
l
l
Re
d
e
m
p
t
i
o
n
10
/
0
7
/
2
0
2
5
-1
,
5
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
4.
2
5
0
1,
5
0
0
,
0
0
0
.
0
0
0.
0
0
1,
5
0
0
,
0
0
0
.
0
0
--
-
--
-
--
-
Ca
l
l
Re
d
e
m
p
t
i
o
n
10
/
1
4
/
2
0
2
5
-3
,
9
9
9
,
0
0
0
.
0
0
1
0
0
.
0
0
0
4.
7
1
2
3,
9
9
9
,
0
0
0
.
0
0
0.
0
0
3,
9
9
9
,
0
0
0
.
0
0
CU
S
I
P
Se
c
u
r
i
t
y
D
e
s
c
r
i
p
t
i
o
n
S
e
c
u
r
i
t
y
T
y
p
e
T
r
a
n
s
a
c
t
i
o
n
Ty
p
e
Se
t
t
l
e
m
e
n
t
D
a
t
e
Qu
a
n
t
i
t
y
Pr
i
c
e
Ac
q
/
D
i
s
p
Y
i
e
l
d
Am
o
u
n
t
P
u
r
c
h
a
s
e
d
/
S
o
l
d
I
n
t
e
r
e
s
t
To
t
a
l
A
m
o
u
n
t
88
2
7
2
3
A
9
0
TE
X
A
S
S
T
2
.
8
3
1
10
/
0
1
/
2
0
2
5
MU
N
I
Ma
t
u
r
i
t
y
1
0
/
0
1
/
2
0
2
5
-5
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
1.
0
4
3
50
0
,
0
0
0
.
0
0
0.
0
0
50
0
,
0
0
0
.
0
0
88
2
7
2
3
7
P
8
TE
X
A
S
S
T
A
T
E
3
.
0
5
1
10
/
0
1
/
2
0
2
5
MU
N
I
Ma
t
u
r
i
t
y
1
0
/
0
1
/
2
0
2
5
-1
,
5
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
2.
0
0
3
1,
5
0
0
,
0
0
0
.
0
0
0.
0
0
1,
5
0
0
,
0
0
0
.
0
0
88
2
7
2
3
5
K
1
TE
X
A
S
S
T
2
.
9
2
2
10
/
0
1
/
2
0
2
5
MU
N
I
Ma
t
u
r
i
t
y
1
0
/
0
1
/
2
0
2
5
-2
4
5
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
6
4
9
24
5
,
0
0
0
.
0
0
0.
0
0
24
5
,
0
0
0
.
0
0
83
0
8
6
X
A
A
8
Sk
y
l
a
F
e
d
e
r
a
l
C
r
e
d
i
t
U
n
i
o
n
4.
1
5
1
0
/
0
8
/
2
0
2
5
CD
Ma
t
u
r
i
t
y
1
0
/
0
8
/
2
0
2
5
-2
5
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
4.
1
5
0
25
0
,
0
0
0
.
0
0
0.
0
0
25
0
,
0
0
0
.
0
0
81
9
8
6
6
B
R
4
Sh
a
r
o
n
v
i
e
w
F
e
d
e
r
a
l
C
r
e
d
i
t
Un
i
o
n
5
.
0
1
0
/
3
1
/
2
0
2
5
CD
Ma
t
u
r
i
t
y
1
0
/
3
1
/
2
0
2
5
-2
4
9
,
0
0
0
.
0
0
1
0
0
.
0
0
0
5.
0
3
6
24
9
,
0
0
0
.
0
0
0.
0
0
24
9
,
0
0
0
.
0
0
70
3
2
0
K
A
R
2
Pa
t
h
f
i
n
d
e
r
B
a
n
k
0
.
5
10
/
1
4
/
2
0
2
5
CD
Ma
t
u
r
i
t
y
1
0
/
1
4
/
2
0
2
5
-2
4
9
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
5
4
1
24
9
,
0
0
0
.
0
0
0.
0
0
24
9
,
0
0
0
.
0
0
45
9
5
0
V
P
E
0
IN
T
E
R
N
A
T
I
O
N
A
L
F
I
N
A
N
C
E
CO
R
P
1
.
5
1
0
/
1
5
/
2
0
2
5
SU
P
R
A
N
A
T
I
O
N
A
L
M
a
t
u
r
i
t
y
1
0
/
1
5
/
2
0
2
5
-1
,
0
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
5
0
5
1,
0
0
0
,
0
0
0
.
0
0
0.
0
0
1,
0
0
0
,
0
0
0
.
0
0
45
9
0
5
8
J
L
8
IN
T
E
R
N
A
T
I
O
N
A
L
B
A
N
K
FO
R
R
E
C
O
N
S
T
R
U
C
T
I
O
N
AN
D
D
E
V
E
L
O
P
M
0
.
5
10
/
2
8
/
2
0
2
5
SU
P
R
A
N
A
T
I
O
N
A
L
M
a
t
u
r
i
t
y
1
0
/
2
8
/
2
0
2
5
-4
,
5
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
6
2
9
4,
5
0
0
,
0
0
0
.
0
0
0.
0
0
4,
5
0
0
,
0
0
0
.
0
0
40
4
7
3
0
D
A
8
Ha
d
d
o
n
S
a
v
i
n
g
s
B
a
n
k
0
.
3
5
10
/
2
0
/
2
0
2
5
CD
Ma
t
u
r
i
t
y
1
0
/
2
0
/
2
0
2
5
-2
0
7
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
5
3
5
20
7
,
0
0
0
.
0
0
0.
0
0
20
7
,
0
0
0
.
0
0
37
3
3
8
4
R
X
6
GE
O
R
G
I
A
S
T
4
.
0
10
/
0
1
/
2
0
2
5
MU
N
I
Ma
t
u
r
i
t
y
1
0
/
0
1
/
2
0
2
5
-2
5
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
2.
7
7
7
25
0
,
0
0
0
.
0
0
0.
0
0
25
0
,
0
0
0
.
0
0
31
3
4
G
W
Z
L
3
F
E
D
E
R
A
L
H
O
M
E
L
O
A
N
MO
R
T
G
A
G
E
C
O
R
P
0
.
5
7
10
/
2
9
/
2
0
2
5
AG
C
Y
B
O
N
D
M
a
t
u
r
i
t
y
1
0
/
2
9
/
2
0
2
5
-1
,
5
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
5
7
0
1,
5
0
0
,
0
0
0
.
0
0
0.
0
0
1,
5
0
0
,
0
0
0
.
0
0
Pa
l
o
A
l
t
o
M
o
n
t
h
l
y
T
r
a
n
s
a
c
t
i
o
n
s
10
/
0
1
/
2
0
2
5
-
1
0
/
3
1
/
2
0
2
5
1
AT
T
A
C
H
M
E
N
T
A
Pr
i
n
c
i
p
a
l
P
a
y
d
o
w
n
Su
m
m
a
r
y
CU
S
I
P
Se
c
u
r
i
t
y
D
e
s
c
r
i
p
t
i
o
n
S
e
c
u
r
i
t
y
T
y
p
e
T
r
a
n
s
a
c
t
i
o
n
Ty
p
e
Se
t
t
l
e
m
e
n
t
D
a
t
e
Qu
a
n
t
i
t
y
Pr
i
c
e
Ac
q
/
D
i
s
p
Y
i
e
l
d
Am
o
u
n
t
P
u
r
c
h
a
s
e
d
/
S
o
l
d
I
n
t
e
r
e
s
t
To
t
a
l
A
m
o
u
n
t
31
3
4
G
W
Y
Z
3
F
E
D
E
R
A
L
H
O
M
E
L
O
A
N
MO
R
T
G
A
G
E
C
O
R
P
0
.
5
3
10
/
2
8
/
2
0
2
5
AG
C
Y
B
O
N
D
M
a
t
u
r
i
t
y
1
0
/
2
8
/
2
0
2
5
-1
,
5
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
5
3
0
1,
5
0
0
,
0
0
0
.
0
0
0.
0
0
1,
5
0
0
,
0
0
0
.
0
0
31
3
4
G
W
Y
2
6
F
E
D
E
R
A
L
H
O
M
E
L
O
A
N
MO
R
T
G
A
G
E
C
O
R
P
0
.
5
7
10
/
0
8
/
2
0
2
5
AG
C
Y
B
O
N
D
M
a
t
u
r
i
t
y
1
0
/
0
8
/
2
0
2
5
-1
,
5
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
5
7
0
1,
5
0
0
,
0
0
0
.
0
0
0.
0
0
1,
5
0
0
,
0
0
0
.
0
0
31
3
4
G
W
X
X
9
F
E
D
E
R
A
L
H
O
M
E
L
O
A
N
MO
R
T
G
A
G
E
C
O
R
P
0
.
5
5
10
/
1
5
/
2
0
2
5
AG
C
Y
B
O
N
D
M
a
t
u
r
i
t
y
1
0
/
1
5
/
2
0
2
5
-1
,
5
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
5
5
0
1,
5
0
0
,
0
0
0
.
0
0
0.
0
0
1,
5
0
0
,
0
0
0
.
0
0
31
3
4
G
W
V
V
5
F
E
D
E
R
A
L
H
O
M
E
L
O
A
N
MO
R
T
G
A
G
E
C
O
R
P
0
.
5
10
/
1
5
/
2
0
2
5
AG
C
Y
B
O
N
D
M
a
t
u
r
i
t
y
1
0
/
1
5
/
2
0
2
5
-1
,
5
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
5
0
0
1,
5
0
0
,
0
0
0
.
0
0
0.
0
0
1,
5
0
0
,
0
0
0
.
0
0
31
3
4
G
W
3
Z
7
F
E
D
E
R
A
L
H
O
M
E
L
O
A
N
MO
R
T
G
A
G
E
C
O
R
P
0
.
6
10
/
2
8
/
2
0
2
5
AG
C
Y
B
O
N
D
M
a
t
u
r
i
t
y
1
0
/
2
8
/
2
0
2
5
-7
5
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
6
0
0
75
0
,
0
0
0
.
0
0
0.
0
0
75
0
,
0
0
0
.
0
0
31
3
4
G
W
3
X
2
F
E
D
E
R
A
L
H
O
M
E
L
O
A
N
MO
R
T
G
A
G
E
C
O
R
P
0
.
6
2
5
10
/
2
7
/
2
0
2
5
AG
C
Y
B
O
N
D
M
a
t
u
r
i
t
y
1
0
/
2
7
/
2
0
2
5
-1
,
5
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
6
2
5
1,
5
0
0
,
0
0
0
.
0
0
0.
0
0
1,
5
0
0
,
0
0
0
.
0
0
31
3
4
G
W
3
H
7
F
E
D
E
R
A
L
H
O
M
E
L
O
A
N
MO
R
T
G
A
G
E
C
O
R
P
0
.
6
1
10
/
2
9
/
2
0
2
5
AG
C
Y
B
O
N
D
M
a
t
u
r
i
t
y
1
0
/
2
9
/
2
0
2
5
-1
,
5
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
6
1
0
1,
5
0
0
,
0
0
0
.
0
0
0.
0
0
1,
5
0
0
,
0
0
0
.
0
0
--
-
--
-
--
-
Ma
t
u
r
i
t
y
1
0
/
2
0
/
2
0
2
5
-2
0
,
2
0
0
,
0
0
0
.
0
0
1
0
0
.
0
0
0
0.
8
2
3
20
,
2
0
0
,
0
0
0
.
0
0
0.
0
0
20
,
2
0
0
,
0
0
0
.
0
0
CU
S
I
P
Se
c
u
r
i
t
y
D
e
s
c
r
i
p
t
i
o
n
S
e
c
u
r
i
t
y
T
y
p
e
T
r
a
n
s
a
c
t
i
o
n
Ty
p
e
Se
t
t
l
e
m
e
n
t
D
a
t
e
Qu
a
n
t
i
t
y
Pr
i
c
e
Ac
q
/
D
i
s
p
Y
i
e
l
d
Am
o
u
n
t
P
u
r
c
h
a
s
e
d
/
S
o
l
d
I
n
t
e
r
e
s
t
To
t
a
l
A
m
o
u
n
t
31
3
0
B
2
R
P
2
FE
D
E
R
A
L
H
O
M
E
L
O
A
N
BA
N
K
S
5
.
2
5
0
9
/
2
5
/
2
0
3
4
AG
C
Y
B
O
N
D
P
r
i
n
c
i
p
a
l
Pa
y
d
o
w
n
10
/
3
0
/
2
0
2
5
0.
0
0
--
-
5.
2
5
0
17
1
,
4
2
8
.
5
7
0.
0
0
17
1
,
4
2
8
.
5
7
31
3
0
B
2
R
P
2
FE
D
E
R
A
L
H
O
M
E
L
O
A
N
BA
N
K
S
5
.
2
5
0
9
/
2
5
/
2
0
3
4
AG
C
Y
B
O
N
D
P
r
i
n
c
i
p
a
l
Pa
y
d
o
w
n
10
/
3
0
/
2
0
2
5
0.
0
0
--
-
5.
2
5
0
17
1
,
4
2
8
.
5
7
0.
0
0
17
1
,
4
2
8
.
5
7
CU
S
I
P
Se
c
u
r
i
t
y
D
e
s
c
r
i
p
t
i
o
n
S
e
c
u
r
i
t
y
T
y
p
e
T
r
a
n
s
a
c
t
i
o
n
Ty
p
e
Se
t
t
l
e
m
e
n
t
D
a
t
e
Qu
a
n
t
i
t
y
Pr
i
c
e
Ac
q
/
D
i
s
p
Y
i
e
l
d
Am
o
u
n
t
P
u
r
c
h
a
s
e
d
/
S
o
l
d
I
n
t
e
r
e
s
t
To
t
a
l
A
m
o
u
n
t
--
-
--
-
--
-
--
-
10
/
2
2
/
2
0
2
5
-6
,
6
9
9
,
0
0
0
.
0
0
--
-
2.
3
7
8
6,
7
8
4
,
9
2
7
.
0
0
12
6
,
9
2
5
.
1
1
6,
6
5
8
,
0
0
1
.
8
9
Pa
l
o
A
l
t
o
M
o
n
t
h
l
y
T
r
a
n
s
a
c
t
i
o
n
s
10
/
0
1
/
2
0
2
5
-
1
0
/
3
1
/
2
0
2
5
2
AT
T
A
C
H
M
E
N
T
A