HomeMy WebLinkAboutStaff Report 2601-5820CITY OF PALO ALTO
CITY COUNCIL
Special Meeting
Monday, March 23, 2026
Council Chambers & Hybrid
5:00 PM
Agenda Item
B.Monthly Investment Report - February 2026 (Unaudited)
City Council
Staff Report
From: City Manager
Report Type: INFORMATION REPORTS
Lead Department: Administrative Services
Meeting Date: March 23, 2026
Report #:2601-5820
TITLE
Monthly Investment Report - February 2026 (Unaudited)
RECOMMENDATION
This is an Information Report. No Council action is required.
ANALYSIS
The City’s Investment Policy (Policy)1 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 – February 2026
APPROVED BY:
Lauren Lai, Administrative Services Director
1 Investment Policy Fiscal Year 2025-2026 (Adopted February 9, 2026);
https://www.paloalto.gov/files/assets/public/v/1/administrative-services/investment-policies/1-39-asd-
investment-policy.pdf
ATTACHMENT A
Monthly Transactions
02/01/2026 - 02/28/2026
Buy
CUSIP Security Description Security Type
T-BILL
Transaction Settlement Date
02/27/2026
02/18/2026
02/27/2026
02/18/2026
02/27/2026
02/23/2026
Quantity
10,000,000.00
2,500,000.00
2,500,000.00
2,500,000.00
2,500,000.00
2,500,000.00
Price
99.819
Acq/Disp Yield
3.672
Amount
-9,981,925.00
-2,507,750.00
-2,546,975.00
-2,568,500.00
-2,535,600.00
-2,511,225.00
Purchased/Sold Interest
0.00
Total Amount
-9,981,925.00
-2,518,201.39
-2,577,287.50
-2,578,654.03
-2,558,742.01
-2,543,308.33
912797SZ1 UNITED STATES Buy
SIMON PROPERTY CORP 100.310 4.228 10,451.39
QUALCOMM INC 4.5 CORP 4.003 30,312.50
MORGAN STANLEY 5.042 CORP 4.173 10,154.03
JPMORGAN CHASE & CO CORP 4.097 23,142.01
META PLATFORMS INC CORP 4.092 32,083.33
---------Buy 02/25/2026 22,500,000.00 ---3.922 -22,651,975.00 106,143.26 -22,758,118.26
Call Redemption
CUSIP Security Description Security Type Transaction Settlement Date
01/30/2026
01/30/2026
02/22/2026
02/12/2026
Quantity
0.00
Price
100.001
100.001
100.000
100.000
Acq/Disp Yield
5.049
Amount
0.00
Purchased/Sold Interest Total Amount
249,003.18
0.00
591803CJ8 Metropolitan Capital Bank & CD Call 0.00
Metropolitan Capital Bank & CD Call -249,000.00 5.049 249,003.18
Finwise Bank 5.1 CD Call 5.100 249,000.00
Chambers State Bank 5.05 CD Call 5.050
------CD Call 02/11/2026 -747,000.00 ---5.066 747,003.18 0.00 747,003.18
Maturity
CUSIP Security Description Security Type
US GOV
T-BILL
Transaction Settlement Date
02/28/2026
02/05/2026
02/15/2026
02/02/2026
02/26/2026
02/24/2026
Quantity
-1,500,000.00
-10,000,000.00
-1,500,000.00
-249,000.00
Price
100.000
100.000
100.000
100.000
100.000
100.000
Acq/Disp Yield
0.831
Amount
1,500,000.00
10,000,000.00
1,500,000.00
249,000.00
Purchased/Sold Interest Total Amount
0.0091282CBQ3UNITED STATES Maturity 0.00
UNITED STATES 3.865 10,000,000.00
NEW YORK ST 2.26 MUNI 0.804
Morgan Stanley Bank, N.A.CD 4.250
INTERNATIONAL FINANCE SUPRANATIONAL -1,500,000.00 0.707 1,500,000.00
INTERNATIONAL BANK SUPRANATIONAL 2.967
45905U5Y6 INTERNATIONAL BANK Maturity 02/18/2026 -1,500,000.00 100.000 0.600 1,500,000.00 0.00 1,500,000.00
INTERNATIONAL BANK
HAWAII ST 5.33 02/01/2026 MUNI 800,000.00
1
ATTACHMENT A
Monthly Transactions
02/01/2026 - 02/28/2026
CUSIP Security Description Security Type Transaction Settlement Date Quantity Price Acq/Disp Yield Amount Purchased/Sold Interest Total Amount
357172VA0 FREMONT CALIF UN HIGH MUNI Maturity 02/01/2026 -115,000.00 100.000 3.000 115,000.00 0.00 115,000.00
31315PRA9 FEDERAL AGRICULTURAL AGCY BOND 02/03/2026 -1,500,000.00 100.000 2.160 1,500,000.00 0.00 1,500,000.00
Evolve Bank & Trust 4.45 CD
037833EB2 APPLE INC 0.7 02/08/2026 CORP Maturity 02/08/2026 -700,000.00 100.000 0.694 700,000.00 0.00 700,000.00
Achieve Financial Credit
---------Maturity 02/11/2026 -27,862,000.00 100.000 2.294 27,862,000.00 0.00 26,362,000.00
Sell
CUSIP Security Description Security Type Transaction Settlement Date Quantity Price Acq/Disp Yield Amount Purchased/Sold Interest Total Amount
97705MNU5 WISCONSIN ST 2.451 MUNI Sell 02/26/2026 -2,000,000.00 96.596 1.575 1,931,920.00 -15,659.16 1,947,579.16
97705MNU5 WISCONSIN ST 2.451 MUNI Sell 02/26/2026 -2,000,000.00 96.596 1.575 1,931,920.00 -15,659.16 1,947,579.16
Summary
CUSIP Security Description Security Type Transaction Settlement Date Quantity Price Acq/Disp Yield Amount Purchased/Sold Interest Total Amount
------------02/17/2026 -8,109,000.00 ---3.000 7,888,948.18 90,484.10 6,298,464.08
2