CA - Fullerton: INVESTMENT ADVISORY COMMITTEE

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INVESTMENT ADVISORY COMMITTEE

CITY OF FULLERTON

INVESTMENT ADVISORY COMMITTEE AGENDA Regular Meeting Fullerton City Hall - 303 West Commonwealth Avenue
Tagged Passions:investment

Law Library Third Floor

Thursday, April 19, 2018 4:00 p.m. At the Chair s discretion, public comments may be allowed on items on this agenda at the time each item is considered.
Tagged Passions:library

Persons addressing the Committee shall be limited to 10 minutes unless an extension of time is granted by the Chair subject to approval of the Committee. When any group of persons wishes to address the Committee, it shall be proper for the Chair to request that a spokesman be chosen to represent the group.

At the end of this agenda, public comments may be allowed, at the Chair s discretion, on items NOT on the agenda, but within the subject matter jurisdiction of the Committee. However, NO action may be taken on off-agenda items except as provided by law.
Tagged Passions:grant

CALL TO ORDER

ROLL CALL PUBLIC COMMENTS

ACTION OR DISCUSSION ITEMS

1.
Approval of minutes from the meeting of January 18, 2018

No additional detail provided

2.
Review of Market Update and Current Investment Portfolio for the period ending March 31,

2018 ADJOURNMENT Any writings or documents provided to a majority of the Investment Advisory Committee regarding any item on this agenda will be made available for public inspection in the City Clerk s Office at the address shown above (first floor) during normal business hours.

Tagged Passions:investment and market

CITY OF FULLERTON INVESTMENT ADVISORY COMMITTEE

MINUTES Regular Meeting
Tagged Passions:investment

Fullerton City Hall 303 West Commonwealth Avenue Third Floor Law Library

Thursday, January 18, 2018 4:00 p.m.
Tagged Passions:library

CALL TO ORDER

Chairperson Lewczyk called the meeting to order at 4:00 p.m. ROLL CALL

Members Present: Stan Lewczyk, Chair Doug Chaffee, Committee Member

Dianna Honeywell, Committee Member Lynn Lauderdale, Committee Member Ken Domer, City Manager Michael B. O Kelly, Director of Admin, Services/City Treasurer Consultants: John Grady, Tom Tight, and Mark Creger, Public Trust Advisors Staff: Ramona Castaneda, Revenue Manager Kriste Saldana, Fiscal Services Manager Public Present: None PUBLIC COMMENTS None.
Tagged Passions:Treasurer, administrator, manager, TREASURER, and services

ACTION OR DISCUSSION ITEMS

Item 1. Approval of Minutes from the Regular Meeting of November 30, 2017

Approval of the minutes was moved by Committee Member Lauderdale and seconded by Committee Member Chaffee. The Motion carried 6-0.

Item 2. Review of Market Update and Investment Portfolio for period ending

Mr. Creger presented the Market Update, indicating that with the domestic equity markets are at an all-time high. Valuations are high and are bolstered by repatriated cash, dividends, and stock buy-backs. Central banks are constricting flow so liquidity could be diminished, leaving room for risk heading into 2018. The unemployment rate continues to move down, now at 4.10 , although average hourly earnings haven t grown significantly. The number of part-time workers has declined by more than 4 Million since the end of the recession in December 2009. 30 year mortgage rates declined by 0.50 since the beginning of 2017 while housing prices continue to improve over the long term. Core CPI inflation is still not at the 2 inflation target with personal consumption also being slightly below 2 . Third quarter GDP growth was the strongest in three years at 3.20 , driven primarily by consumer spending and investment and inventories. US Treasury yields have increased while the yield curve has continued to flatten and this trend is projected to continue over the next several years. Mr. Grady presented the investment report for the month of December, 2017.
Tagged Passions:grocery, risk, rates, investment, market, housing, and growth

As of December 31, 2017, the total portfolio balance was 97,346,334 and yielded a market gross of 1.67 with a duration of 1.30 years and a weighted maturity of 1.34 years. Committee Member Lewczyk inquired about the current LAIF yield. Ms. Castaneda responded that it is approximately 1.23 . The 1-3 year portfolio s gross market yield was 1.92 with a weighted maturity of 1.85 years. Mr. Grady explained that the book yield is overall positive although there was a net unrealized loss on a market value basis. The 1-5 year portfolio s gross market yield was 1.99 with a weighted maturity of 2.66 years. The portfolio is primarily comprised of US Treasuries while the Corporate allocation still being low. Committee Member Lauderdale inquired about an aggregate total return benchmark, Mr. Creger responded that a benchmark comparison would be brought back to the Committee at a future meeting.

ADJOURNMENT
Tagged Passions:market

Adjournment of the meeting at 5:14 p.m was moved by Committee member Chafee and seconded by Committee member Lauderdale. The next regular meeting is scheduled for 4:00 p.m. Thursday, April 19, 2018 at Fullerton City Hall, 303 W. Commonwealth Avenue, Fullerton, CA 92832.

City of Fullerton Aggregate Portfolio Public Trust Advisors LLC 303 W. Commonwealth Ave. 777 S Figueroa St. 805

Fullerton, CA 92832 Los Angeles, CA 90017 Quarterly Investment Report for Period Ended March 31, 2018 Investment Management Portfolio Review Page
Tagged Passions:investment

Investment Portfolio Summary Comparison 3

Investment Portfolio Maturity Distribution 4 Investment Portfolio Maturity Distribution By Security Type 5 Investment Report Ratings Distribution 6
Tagged Passions:investment and security

Investment Portfolio Security Distribution - Market Value 7

No additional detail provided

Tagged Passions:investment, market, and security

Investment Portfolio Security Distribution - Historical Cost 8

No additional detail provided

Tagged Passions:investment, historical, and security

Additional Disclosure 9

Security Concentration 10

Tagged Passions:security

City of Fullerton Aggregate Portfolio Summary

City of Fullerton Aggregate

Portfolio Beginning Balance Ending Balance Portfolio Characteristic Beginning Balance Ending Balance Historical Cost 97,919,506.55 103,929,235.81 Book Yield Gross 1.34 1.53 Book Value 97,631,498.51 103,598,660.14 Market Yield Gross 1.67 2.03 Accrued Interest 263,464.21 274,718.68 Duration 1.30 Years 1.30 Years Book Value Plus Accrued 97,894,962.73 103,873,378.82 Weighted Effective Maturity 1.34 Years 1.34 Years
Tagged Passions:historical and market

Net Unrealized Gain/Loss (592,806.50) (905,433.69) Weighted Final Maturity 1.34 Years 1.35 Years

Market Value Plus Accrued (2) 97,302,156.23 102,967,945.13 Net Pending Transactions 44,178.19 (215,744.05) Market Value Plus Accrued Net (2) 97,346,334.41 102,752,201.08

Tagged Passions:market

City of Fullerton Aggregate

Portfolio Net Income Portfolio Compliance Compliant Interest Income 375,824.57 Security Distribution YES
Tagged Passions:compliance and security

Net Amortization/Accretion (60,134.51) Maturity Distribution YES

Net Realized Gain/Loss(3) (32,992.13) Rating Distribution YES

No additional detail provided

Net Income 282,697.93

No additional detail provided

City of Fullerton Aggregate Portfolio Summary Comparison for the period January 1, 2018 to March 31, 2018

(1) Payables represent amounts due to settle security transactions that have been executed but have not settled as of period end. The funds used to settle these trades may come from a variety of sources including cash within the portfolio, proceeds from future security transactions including maturities and sales, or other sources including money market funds. For reporting purposes, a payable is created for over-period settlements which are reflected in the detailed holdings. (2) Market Value Plus Accrued Net represents the market value of the portfolio net payables and recievables from transactions that settle in the following reporting period. (3) MBS paydowns may result in negative realized losses rather than amortization in as a result of accounting method. Page 3 Maturity Distribution Beginning Balance Ending Balance Portfolio Allocation Distribution Change 0-3 Months 32,933,918.11 31,910,880.60 30.99 -2.86 3-6 Months 250,484.90 498,218.11 0.48 0.23 6-9 Months 497,604.38 1,826,179.06 1.77 1.26 9-12 Months 2,320,368.34 4,011,346.47 3.90 1.51 1-2 Years 33,021,739.43 35,826,614.49 34.79 0.86 2-3 Years 22,757,051.54 23,142,466.60 22.48 -0.91 3-4 Years 3,014,403.68 3,638,921.91 3.53 0.44 4-5 Years 2,506,585.84 2,113,317.90 2.05 -0.52
Tagged Passions:trade, settlement, funding, market, sale, and security

5-6 Years - - 0.00 0.00

No additional detail provided

6
Years + - - 0.00 0.00

No additional detail provided

Total Portfolio 97,302,156.23 102,967,945.13 100.00

No additional detail provided

City of Fullerton Aggregate Portfolio Maturity Distribution Market Value Basis January 1, 2018 to March 31, 2018

- 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000 40,000,000 0-3 M 3-6 M 6-9 M 9-12 M 1-2 Yr 2-3 Yr 3-4 Yr 4-5 Yr 5-6 Yr 6 Yr + Maturity Distribution Comparison January 1, 2018 March 31, 2018 0-3 M 30.99 3-6 M 0.48 6-9 M 1.77 9-12 M 3.90 1-2 Yr 34.79 2-3 Yr 22.48 3-4 Yr 3.53 4-5 Yr 2.05 Maturity Distribution Security Distribution 0-3 Months 3-6 Months 6-9 Months 9-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years Total Portfolio
Tagged Passions:market and security

Money Market Funds 456,207.16 - - - - - - - 456,207.16

No additional detail provided

Tagged Passions:funding and market

Certificates of Deposit 251,421.20 498,218.11 496,491.80 - 963,967.11 490,505.59 496,250.37 - 3,196,854.18

U.S. Treasury Notes - - 326,955.87 499,715.36 17,866,755.81 19,671,673.01 3,142,671.53 2,113,317.90 43,621,089.49

No additional detail provided

U.S. Agency Notes - - - - - - - - -

No additional detail provided

Federal Inst. (GSE) - - 1,002,731.39 1,523,230.00 9,622,563.82 1,984,406.67 - - 14,132,931.88

No additional detail provided

Asset Backed (ABS) - - - - - - - - -

No additional detail provided

City of Fullerton Aggregate Portfolio Maturity Distribution Market Value Basis as of March 31, 2018

- 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000 40,000,000 0-3 Months 3-6 Months 6-9 Months 9-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years Maturity Distribution By Type Municipal Bonds Asset Backed (ABS) Corporate Notes Federal Inst. (GSE) U.S. Agency Notes U.S. Treasury Notes Commercial Paper
Tagged Passions:commercial, market, and bond

Certificates of Deposit

Money Market Funds

LGIP Cash S P Rating Distribution Ending Balance Portfolio Allocation Short Term Rating Distribution
Tagged Passions:funding and market

A-1+ - 0.00

Total Short Term Ratings 1,451,452.85 1.41 Long Term Rating Distribution

AAA Rating 2,141,084.96 2.08

No additional detail provided

AA Rating 65,223,516.82 63.34

No additional detail provided

A
Rating 1,203,236.93 1.17

Below A - 0.00

Not Rated 32,948,653.57 32.00

Total Long Term Rating 101,516,492.28 98.59

Total Portfolio 102,967,945.13 100.00

No additional detail provided

Moody's Rating Distribution

Ending Balance Portfolio Allocation Short Term Rating Distribution Total Short Term Ratings 1,986,705.76 1.93 Long Term Rating Distribution

Aaa Rating 59,207,061.75 57.50

No additional detail provided

Aa Rating 5,778,375.78 5.61

No additional detail provided

A
Rating 1,653,688.68 1.61

Below A - 0.00

Not Rated 34,342,113.16 33.35

Total Long Term Rating 100,981,239.38 98.07

Total Portfolio 102,967,945.13 100.00

No additional detail provided

City of Fullerton Aggregate Portfolio Rating Distribution Market Value Basis as of March 31, 2018

A-1 0.72 A-2 0.69 AAA Rating 2.08 AA Rating 63.34 A Rating 1.17 Not Rated 32.00 Portfolio Allocation By Standard and Poors' Rating P-1 1.45 P-2 0.48 Aaa Rating 57.50 Aa Rating 5.61 A Rating 1.61 Not Rated 33.35 Portfolio Allocation By Moody's Rating Security Distribution Beginning Balance Ending Balance Portfolio Allocation Change in Allocation Book Yield Permitted by Policy* Compliant FFCB - - 0.00 0.00 0.00 40.00 YES Fed Instrumentality Subtotal 14,218,125.11 14,132,931.88 13.73 -0.89 1.26 100.00 YES
Tagged Passions:policy, poverty, market, and security

LAIF City 31,691,693.02 27,760,752.29 26.96 -5.61 1.35 60.00 YES

LAIF Successor Agency 1,002,462.24 3,442,499.95 3.34 2.31 1.35 60.00 YES

LAIF Subtotal 32,694,155.26 31,203,252.24 30.30 -3.30 1.35 60.00 YES

Cash - - 0.00 0.00 0.00 100.00 YES U.S. Treasury Notes 39,178,844.22 43,621,089.49 42.36 2.10 1.62 100.00 YES

U.S. Agency Notes - - 0.00 0.00 0.00 100.00 YES

No additional detail provided

Asset Backed Securities - - 0.00 0.00 0.00 20.00 YES

No additional detail provided

Corporate Notes 8,532,548.73 10,357,610.18 10.06 1.29 1.84 30.00 YES

No additional detail provided

Money Market Funds 224,574.36 456,207.16 0.44 0.21 1.25 20.00 YES

Tagged Passions:funding and market

Certificates of Deposit 2,453,908.54 3,196,854.18 3.10 0.58 2.18 25.00 YES

Total Portfolio Market Value 97,302,156.23 102,967,945.13 100.00 1.53 NOT CORRECT
Tagged Passions:market

*Permitted allocation based on aggregate assets as defined within the investment policy.

Tagged Passions:policy and investment

City of Fullerton Aggregate Portfolio Market Value Basis Security Distribution January 1, 2018 to March 31, 2018

- 10,000,000 20,000,000 30,000,000 40,000,000 50,000,000 FN M A FH LM C FF C B FH LB LA IF C it y LA IF S A C as h U ST A B S C P C o
Tagged Passions:market and security

rp B A

M M F M u n i Su p ra C D Asset Balance By Security Type (in millions) January 1, 2018 March 31, 2018 FNMA 3.63 FHLMC 8.17 FHLB 1.93 LAIF City 26.96 LAIF SA 3.34 UST 42.36 Corp 10.06 MMF 0.44 CD 3.10 Ending Portfolio Allocation Security Distribution Beginning Balance Ending Balance Portfolio Allocation Change in Allocation Book Yield Permitted by Policy* Compliant FFCB - - 0.00 0.00 0.00 40.00 YES Fed Instrumentality Subtotal 14,450,899.72 14,435,600.72 13.89 -0.87 1.26 100.00 YES

Tagged Passions:policy and security

LAIF City 31,691,693.02 27,760,752.29 26.71 -5.65 1.35 60.00 YES

LAIF Successor Agency 1,002,462.24 3,442,499.95 3.31 2.29 1.35 60.00 YES

LAIF Subtotal 32,694,155.26 31,203,252.24 30.02 -3.37 1.35 60.00 YES

Cash - - 0.00 0.00 0.00 100.00 YES U.S. Treasury Notes 39,519,420.94 44,195,349.67 42.52 2.17 1.62 100.00 YES

U.S. Agency Notes - - 0.00 0.00 0.00 100.00 YES

No additional detail provided

Asset Backed Securities - - 0.00 0.00 0.00 20.00 YES

No additional detail provided

Corporate Notes 8,603,499.70 10,470,869.45 10.07 1.29 1.84 30.00 YES

No additional detail provided

Money Market Funds 224,574.36 456,207.16 0.44 0.21 1.25 20.00 YES

Tagged Passions:funding and market

Certificates of Deposit 2,426,956.57 3,167,956.57 3.05 0.57 2.18 25.00 YES

Total Portfolio Market Value 97,919,506.55 103,929,235.81 100.00 1.53
Tagged Passions:market

*Permitted allocation based on aggregate assets as defined within the investment policy.

Tagged Passions:policy and investment

City of Fullerton Aggregate Portfolio Historical Cost Basis Security Distribution January 1, 2018 to March 31, 2018

- 10,000,000 20,000,000 30,000,000 40,000,000 50,000,000 FN M A FH LM C FF C B FH LB LA IF C it y LA IF S A C as h U ST A B S C P C o
Tagged Passions:historical and security

rp B A

M M F M u n i Su p ra C D Asset Balance By Security Type (in millions) January 1, 2018 March 31, 2018 FNMA 3.66 FHLMC 8.29 FHLB 1.94 LAIF City 26.71 LAIF SA 3.31 UST 42.52 Corp 10.07 MMF 0.44 CD 3.05 Ending Portfolio Allocation Additional Disclosure This statement is for general information purposes only and is not intended to provide specific advice or recommendations. Please review the contents of this statement carefully. Should you have any questions regarding the information presented, calculation methodology, investment portfolio or security detail, or any other facet of your statement, please feel free to contact us. Public Trust Advisor s monthly statement is intended to detail our investment advisory activity as well as the activity of any accounts held by clients in pools that are managed by Public Trust Advisors. The custodian bank maintains the control of assets and executes and settles all investments transactions. The custodian statement is the official record of security and cash holdings transactions. Public Trust Advisors recognizes that clients may use these reports to facilitate record keeping; therefore the custodian bank statement and the Public Trust Advisors statement should be reconciled and differences resolved. Many custodians use a settlement date basis which may result in the need to reconcile due to a timing difference. Please contact your relationship manager or our toll free number 855- 395-3954 with questions regarding your account. Public Trust Advisors does not have the authority to withdraw funds from or deposit funds to the custodian. Our clients retain responsibility for their internal accounting policies; implementing and enforcing internal controls and generating ledger entries or otherwise recording transactions. Pricing sources from our reporting platform are provided by Clearwater reporting platform and are established by Clearwater s internal pricing procedures. Clearwater utilizes a hierarchical pricing model which starts with one of the industry s pricing sources, S P Capital IQ. Securities with short maturities and infrequent secondary market trades are typically priced via mathematical calculations. The Securities in this investment portfolio, including shares of mutual funds, are not guaranteed or otherwise protected by Public trust Advisors, the FDIC (except for certain non-negotiable certificates of deposit) or any government agency, unless otherwise specifically stated. Investment in fixed income securities involves risks, including the possible loss of the amount invested. Past performance is not an indication of future performance. Beginning and Ending Balances based on Market Value plus Accrued Interest on a Trade Date basis. Public Trust Advisors is an investment advisor registered with the Securities and Exchange Commission, and is required to maintain a written disclosure statement of our background and business experience. If you would like to receive a copy of our current disclosure statement, privacy policy, or code of ethics please contact Service Operations at the address below.

Tagged Passions:manager, policy, recognition, boards and commissions, trade, risk, investment, privacy, ethics, settlement, funding, market, performance, procedure, security, and business

Public Trust Advisors 717 17th Street, Suite 1850 Denver, CO 80202

Security Concentration

Tagged Passions:streets and security

City of Fullerton Aggregate Portfolio Detail

AGCY BOND Identifier, Description, Security Type Coupon Type Callabl e Duration S P Rating, Moody's Rating Current Units Effective Maturity, Final Maturity Book Yield, Yield Accrued Balance Original Cost Book Value, Book Value + Accrued Market Value, Market Value + Accrued
Tagged Passions:market, bond, and security

3135G0A78 FEDERAL NATIONAL MORTGAGE ASSOCIATION AGCY BOND

Fixed N 1.767 AA+ Aaa 1,000,000.00 01/21/2020 01/21/2020 1.743 2.282 3,159.72 994,840.00 997,909.30 1,001,069.02 988,390.00 991,549.72
Tagged Passions:bond

3137EADG1 FREDDIE MAC AGCY BOND

Fixed N 1.144 AA+ Aaa 2,000,000.00 05/30/2019 05/30/2019 1.113 2.162 11,763.89 2,037,820.00 2,014,674.54 2,026,438.43 1,990,520.00 2,002,283.89

Tagged Passions:bond

3135G0ZE6 FEDERAL NATIONAL MORTGAGE ASSOCIATION AGCY BOND

Fixed N 1.199 AA+ Aaa 1,500,000.00 06/20/2019 06/20/2019 1.154 2.182 7,364.58 1,526,865.00 1,510,788.48 1,518,153.07 1,492,185.00 1,499,549.58
Tagged Passions:bond

3135G0ZG1 FEDERAL NATIONAL MORTGAGE ASSOCIATION AGCY BOND

Fixed N 1.424 AA+ Aaa 1,250,000.00 09/12/2019 09/12/2019 0.948 2.257 1,154.51 1,280,860.00 1,264,365.50 1,265,520.02 1,240,987.50 1,242,142.01
Tagged Passions:bond

3130A8Y72 FEDERAL HOME LOAN BANKS AGCY BOND

Fixed N 1.329 AA+ Aaa 1,000,000.00 08/05/2019 08/05/2019 0.940 2.243 1,361.11 998,080.00 999,131.53 1,000,492.64 981,900.00 983,261.11
Tagged Passions:bond

3137EAEK1 FEDERAL HOME LOAN MORTGAGE CORP AGCY BOND

Fixed N 2.532 AA+ Aaa 2,000,000.00 11/17/2020 11/17/2020 1.989 2.462 14,166.67 1,993,480.00 1,994,167.25 2,008,333.92 1,970,240.00 1,984,406.67
Tagged Passions:bond

313376BR5 FEDERAL HOME LOAN BANKS AGCY BOND

Fixed N 0.697 AA+ Aaa 1,000,000.00 12/14/2018 12/14/2018 1.093 2.102 5,201.39 1,020,100.00 1,004,586.39 1,009,787.78 997,530.00 1,002,731.39
Tagged Passions:bond

3137EACA5 FREDDIE MAC AGCY BOND

Fixed N 0.975 AA+ Aaa 1,500,000.00 03/27/2019 03/27/2019 1.221 2.209 1,522,605.00 1,523,230.00 Security Type GASB 40 Trade Date Fullerton, City of Agg (47979) As of 03/31/2018 Dated: 04/13/2018

Tagged Passions:trade, bond, and security

1
CASH

CD Identifier, Description, Security Type Coupon Type Callabl e Duration S P Rating, Moody's Rating Current Units Effective Maturity, Final Maturity Book Yield, Yield Accrued Balance Original Cost Book Value, Book Value + Accrued Market Value, Market Value + Accrued
Tagged Passions:market and security

3137EADK2 FREDDIE MAC AGCY BOND

Fixed N 1.315 AA+ WR 1,950,000.00 08/01/2019 08/01/2019 0.932 2.240 4,062.50 1,968,349.50 1,958,224.66 1,962,287.16 1,924,650.00 1,928,712.50 --- --- AGCY BOND Fixed N 1.418 AA+ Aaa 13,200,000.00 09/12/2019 09/12/2019 1.253 2.246 48,859.38 13,433,026.50 13,280,932.04 13,329,791.41 13,109,007.50 13,157,866.88 Identifier, Description, Security Type Coupon Type Callabl e Duration S P Rating, Moody's Rating Current Units Effective Maturity, Final Maturity Book Yield, Yield Accrued Balance Original Cost Book Value, Book Value + Accrued Market Value, Market Value + Accrued CCYUSD Cash CASH Fixed N 0.000 AAA Aaa 0.00 03/31/2018 03/31/2018 0.000 0.000 0.00 0.00 0.00 0.00 0.00 0.00 CCYUSD Cash CASH Fixed N 0.000 AAA Aaa 0.00 03/31/2018 03/31/2018 0.000 0.000 0.00 0.00 0.00 0.00 0.00 0.00 Identifier, Description, Security Type Coupon Type Callabl e Duration S P Rating, Moody's Rating Current Units Effective Maturity, Final Maturity Book Yield, Yield Accrued Balance Original Cost Book Value, Book Value + Accrued Market Value, Market Value + Accrued

Tagged Passions:market, bond, and security

94768NJR6 Webster Bank, National Association CD

Fixed N 1.119 A-2 NA 208,000.00 05/21/2019 05/21/2019 1.982 1.949 1,343.74 206,209.12 207,592.98 208,936.72 207,648.48 208,992.22

34387ACY3 Flushing Bank CD

Fixed N 3.300 NA NA 249,000.00 09/29/2021 09/29/2021 2.750 2.691 249,488.04 249,544.32

06740KGR2 Barclays Bank Delaware CD

Fixed N 1.058 NR NR 250,000.00 04/29/2019 04/29/2019 2.066 2.021 2,004.11 248,035.00 249,577.08 251,581.19 249,675.00 251,679.11

20033AGT7 Comenity Capital Bank CD

Fixed N 0.481 NR NR 250,000.00 09/24/2018 09/24/2018 2.168 2.006 249,750.00 249,873.29

29266NC62 EnerBank USA CD

Fixed N 0.492 NR NR 250,000.00 09/28/2018 09/28/2018 2.203 1.782 250,022.50 250,059.49

38147JXR8 Goldman Sachs Bank USA CD

Fixed N 1.022 A-1 P-1 250,000.00 04/16/2019 04/16/2019 2.129 2.094 2,230.48 247,885.00 249,559.86 251,790.34 249,627.50 251,857.98

140420PN4 Capital One Bank CD

Fixed N 1.458 A-2 P-1 250,000.00 10/01/2019 10/01/2019 2.383 2.421 2,617.81 246,687.50 249,005.89 251,623.70 248,820.00 251,437.81

36163CQB9 Goldman Sachs Bank USA CD

Fixed N 0.148 NR P-1 250,000.00 05/23/2018 05/23/2018 1.835 1.571 1,413.70 247,745.00 249,919.74 251,333.44 250,007.50 251,421.20

48126YCZ4 JPMorgan Chase Bank, National Association CD

Fixed Y 2.254 A-1 P-1 248,000.00 07/28/2020 07/28/2020 1.750 2.578 243,364.88 244,113.98

61747MXJ5 Morgan Stanley Bank, National Association CD

Fixed N 0.324 A-2 P-1 246,000.00 07/27/2018 07/27/2018 1.500 1.687 2,507.18 246,000.00 246,000.00 248,507.18 245,837.64 248,344.82 05580AMD3 BMW Bank of North America CD Fixed N 2.864 NA P-1 246,000.00 03/29/2021 03/29/2021 2.700 2.652 246,337.02 246,391.61

795450SA4 Sallie Mae Bank CD

Fixed N 0.710 NR P-2 245,000.00 12/18/2018 12/18/2018 2.055 1.906 1,361.26 243,777.45 244,825.25 246,186.51 245,071.05 246,432.31 Security Type GASB 40 Trade Date Fullerton, City of Agg (47979) As of 03/31/2018 Dated: 04/13/2018
Tagged Passions:trade and security

2
CORP

Identifier, Description, Security Type Coupon Type Callabl e Duration S P Rating, Moody's Rating Current Units Effective Maturity, Final Maturity Book Yield, Yield Accrued Balance Original Cost Book Value, Book Value + Accrued Market Value, Market Value + Accrued
Tagged Passions:market and security

17312QH44 Citibank (South Dakota), National Association CD

Fixed N 3.761 A-1 P-2 246,000.00 03/29/2022 03/29/2022 2.800 2.730 246,649.44 246,706.05 --- --- CD Fixed --- 1.460 A Aa3 3,188,000.00 10/07/2019 10/07/2019 2.180 2.162 14,555.13 3,167,956.57 3,184,580.59 3,199,135.72 3,182,299.05 3,196,854.18 Identifier, Description, Security Type Coupon Type Callabl e Duration S P Rating, Moody's Rating Current Units Effective Maturity, Final Maturity Book Yield, Yield Accrued Balance Original Cost Book Value, Book Value + Accrued Market Value, Market Value + Accrued
Tagged Passions:market and security

64952WBY8 NEW YORK LIFE GLOBAL FUNDING CORP

Fixed N 1.812 AA+ Aaa 250,000.00 02/11/2020 02/11/2020 1.954 2.876 245,817.50 246,494.58
Tagged Passions:funding

594918AC8 MICROSOFT CORP CORP

Fixed N 1.130 AAA Aaa 800,000.00 06/01/2019 06/01/2019 1.693 2.123 11,200.00 875,008.00 823,081.50 834,281.50 819,120.00 830,320.00
Tagged Passions:information technology and Information Technology

594918BN3 MICROSOFT CORP CORP

Fixed N 1.334 AAA Aaa 355,000.00 08/08/2019 08/08/2019 1.135 2.361 349,046.65 349,621.55
Tagged Passions:information technology and Information Technology

478160CH5 JOHNSON JOHNSON CORP

Fixed N 2.508 AAA Aaa 300,000.00 11/10/2020 11/10/2020 1.987 2.624 2,291.25 299,679.00 299,719.35 302,010.60 295,065.00 297,356.25

30231GAP7 EXXON MOBIL CORP CORP

Fixed N 0.907 AA+ Aaa 800,000.00 03/01/2019 03/01/2019 1.394 2.507 1,138.67 807,152.00 802,277.14 803,415.81 794,200.00 795,338.67

594918AC8 MICROSOFT CORP CORP

Fixed N 1.130 AAA Aaa 200,000.00 06/01/2019 06/01/2019 1.689 2.123 2,800.00 218,752.00 205,779.35 208,579.35 204,780.00 207,580.00
Tagged Passions:information technology and Information Technology

30231GAP7 EXXON MOBIL CORP CORP

Fixed N 0.907 AA+ Aaa 200,000.00 03/01/2019 03/01/2019 1.393 2.507 198,550.00 198,834.67

037833CZ1 APPLE INC CORP

Fixed N 1.424 AA+ Aa1 1,290,000.00 09/12/2019 09/12/2019 1.544 2.473 1,021.25 1,288,890.60 1,289,194.79 1,290,216.04 1,272,185.10 1,273,206.35

037833DH0 APPLE INC CORP

Fixed N 1.576 AA+ Aa1 1,170,000.00 11/13/2019 11/13/2019 1.825 2.463 8,073.00 1,169,426.70 1,169,535.27 1,177,608.27 1,157,726.70 1,165,799.70

037833DH0 APPLE INC CORP

Fixed N 1.576 AA+ Aa1 660,000.00 11/13/2019 11/13/2019 1.825 2.463 4,554.00 659,676.60 659,737.85 664,291.85 653,076.60 657,630.60

931142DY6 WAL-MART STORES INC CORP

Fixed N 1.484 AA Aa2 210,000.00 10/09/2019 10/09/2019 1.751 2.477 1,643.54 209,995.80 209,996.41 211,639.95 207,723.60 209,367.14
Tagged Passions:commercial and large retail

931142DY6 WAL-MART STORES INC CORP

Fixed N 1.484 AA Aa2 60,000.00 10/09/2019 10/09/2019 1.751 2.477 59,349.60 59,819.18
Tagged Passions:commercial and large retail

89236TEJ0 TOYOTA MOTOR CREDIT CORP CORP

Fixed N 1.725 AA- Aa3 930,000.00 01/10/2020 01/10/2020 2.246 2.716 4,546.67 929,172.30 929,262.25 933,808.92 921,695.10 926,241.77

19416QEF3 COLGATE-PALMOLIVE CO CORP

Fixed N 0.945 AA- Aa3 800,000.00 03/15/2019 03/15/2019 1.774 2.443 794,760.00 795,382.22

89236TEJ0 TOYOTA MOTOR CREDIT CORP CORP

Fixed N 1.725 AA- Aa3 245,000.00 01/10/2020 01/10/2020 2.246 2.716 1,197.78 244,781.95 244,805.65 246,003.42 242,812.15 244,009.93

19416QEF3 COLGATE-PALMOLIVE CO CORP

Fixed N 0.945 AA- Aa3 200,000.00 03/15/2019 03/15/2019 1.774 2.443 198,690.00 198,845.56 Security Type GASB 40 Trade Date Fullerton, City of Agg (47979) As of 03/31/2018 Dated: 04/13/2018

Tagged Passions:trade and security

3
FHLMC

MMFUND US GOV Identifier, Description, Security Type Coupon Type Callabl e Duration S P Rating, Moody's Rating Current Units Effective Maturity, Final Maturity Book Yield, Yield Accrued Balance Original Cost Book Value, Book Value + Accrued Market Value, Market Value + Accrued
Tagged Passions:market and security

89236TDU6 TOYOTA MOTOR CREDIT CORP CORP

Fixed N 1.974 AA- Aa3 250,000.00 04/17/2020 04/17/2020 2.761 2.788 2,220.83 245,985.00 246,000.27 248,221.11 245,852.50 248,073.33

17275RAX0 CISCO SYSTEMS INC CORP

Fixed N 2.122 AA- A1 450,000.00 06/15/2020 06/15/2020 2.717 2.740 3,246.25 447,430.50 447,440.00 450,686.25 447,205.50 450,451.75
Tagged Passions:information technology and Information Technology

02665WBZ3 AMERICAN HONDA FINANCE CORP CORP

Fixed N 1.572 A+ A2 640,000.00 11/13/2019 11/13/2019 2.029 2.632 4,800.00 639,641.60 639,707.88 644,507.88 633,612.80 638,412.80
Tagged Passions:finance

02665WBZ3 AMERICAN HONDA FINANCE CORP CORP

Fixed N 1.572 A+ A2 175,000.00 11/13/2019 11/13/2019 2.029 2.632 1,312.50 174,902.00 174,920.12 176,232.62 173,253.50 174,566.00
Tagged Passions:finance

375558BR3 GILEAD SCIENCES INC CORP

Fixed N 1.442 A A3 325,000.00 09/20/2019 09/20/2019 1.868 2.725 320,914.75 321,098.47

375558BR3 GILEAD SCIENCES INC CORP

Fixed N 1.442 A A3 70,000.00 09/20/2019 09/20/2019 1.868 2.725 69,120.10 69,159.67 --- --- CORP Fixed N 1.454 AA Aa3 10,380,000.00 09/28/2019 09/28/2019 1.839 2.515 53,053.03 10,470,869.45 10,401,514.39 10,454,567.42 10,304,557.15 10,357,610.18 Identifier, Description, Security Type Coupon Type Callabl e Duration S P Rating, Moody's Rating Current Units Effective Maturity, Final Maturity Book Yield, Yield Accrued Balance Original Cost Book Value, Book Value + Accrued Market Value, Market Value + Accrued
Tagged Passions:market and security

3137BEF58 FHMS K503 A2 FHLMC

Fixed Y 1.009 AA+ Aaa 975,000.00 04/11/2019 08/25/2019 1.334 2.503 1,995.50 1,002,574.22 984,614.57 986,610.07 973,069.50 975,065.00

3137BEF58 FHMS K503 A2 FHLMC

Fixed Y 1.009 AA+ Aaa 975,000.00 04/11/2019 08/25/2019 1.334 2.503 1,995.50 1,002,574.22 984,614.57 986,610.07 973,069.50 975,065.00 Identifier, Description, Security Type Coupon Type Callabl e Duration S P Rating, Moody's Rating Current Units Effective Maturity, Final Maturity Book Yield, Yield Accrued Balance Original Cost Book Value, Book Value + Accrued Market Value, Market Value + Accrued
Tagged Passions:market and security

31846V203 FIRST AMER:GVT OBLG;Y MMFUND

Fixed N 0.000 AAAm Aaa 85,229.48 03/31/2018 03/31/2018 1.230 1.230 85,229.48 85,229.48

31846V203 FIRST AMER:GVT OBLG;Y MMFUND

Fixed N 0.000 AAAm Aaa 370,977.68 03/31/2018 03/31/2018 1.250 1.250 370,977.68 370,977.68 LAIFRDA POOLED MONEY INVESTMENT ACCOUNT MMFUND Fixed N 0.000 NA NA 3,442,499.95 03/31/2018 03/31/2018 1.350 1.350 3,442,499.95 3,442,499.95 LAIFUND POOLED MONEY INVESTMENT ACCOUNT MMFUND Fixed N 0.000 NA NA 27,760,752.29 03/31/2018 03/31/2018 1.350 1.350 27,760,752.29 27,760,752.29 --- --- MMFUND Fixed N 0.000 AAA Aaa 31,659,459.40 03/31/2018 03/31/2018 1.349 1.349 31,659,459.40 31,659,459.40 Security Type GASB 40 Trade Date Fullerton, City of Agg (47979) As of 03/31/2018 Dated: 04/13/2018

Tagged Passions:trade, investment, and security

4
Identifier, Description, Security Type

Coupon Type Callabl e Duration S P Rating, Moody's Rating Current Units Effective Maturity, Final Maturity Book Yield, Yield Accrued Balance Original Cost Book Value, Book Value + Accrued Market Value, Market Value + Accrued

Tagged Passions:market and security

912828XE5 UNITED STATES TREASURY US GOV

Fixed N 2.111 AA+ Aaa 1,000,000.00 05/31/2020 05/31/2020 1.701 2.333 5,027.47 990,468.75 995,738.13 1,000,765.60 982,440.00 987,467.47

912828F39 UNITED STATES TREASURY US GOV

Fixed N 1.463 AA+ Aaa 385,000.00 09/30/2019 09/30/2019 1.158 2.239 382,228.00 382,246.41

912828D80 UNITED STATES TREASURY US GOV

Fixed N 1.394 AA+ Aaa 1,950,000.00 08/31/2019 08/31/2019 0.841 2.225 2,755.43 1,996,541.02 1,971,434.99 1,974,190.42 1,933,698.00 1,936,453.43

912828F62 UNITED STATES TREASURY US GOV

Fixed N 1.548 AA+ Aaa 1,500,000.00 10/31/2019 10/31/2019 0.898 2.260 9,447.51 1,528,652.34 1,514,141.23 1,523,588.74 1,482,300.00 1,491,747.51

912828G61 UNITED STATES TREASURY US GOV

Fixed N 1.632 AA+ Aaa 1,450,000.00 11/30/2019 11/30/2019 0.916 2.258 7,289.84 1,477,527.35 1,463,955.65 1,471,245.48 1,432,049.00 1,439,338.84

912828TC4 UNITED STATES TREASURY US GOV

Fixed N 1.236 AA+ Aaa 1,000,000.00 06/30/2019 06/30/2019 1.328 2.202 2,513.81 991,718.75 995,957.45 998,471.26 985,170.00 987,683.81

912828WS5 UNITED STATES TREASURY US GOV

Fixed N 1.231 AA+ Aaa 1,350,000.00 06/30/2019 06/30/2019 1.337 2.180 5,514.68 1,357,382.81 1,354,794.12 1,360,308.80 1,340,739.00 1,346,253.68

912828W63 UNITED STATES TREASURY US GOV

Fixed N 1.916 AA+ Aaa 2,300,000.00 03/15/2020 03/15/2020 1.428 2.301 1,726.56 2,311,679.69 2,308,691.11 2,310,417.67 2,270,330.00 2,272,056.56

912828X21 UNITED STATES TREASURY US GOV

Fixed N 1.986 AA+ Aaa 2,300,000.00 04/15/2020 04/15/2020 1.451 2.312 15,923.08 2,302,964.84 2,302,241.08 2,318,164.15 2,262,855.00 2,278,778.08

912828XU9 UNITED STATES TREASURY US GOV

Fixed N 2.152 AA+ Aaa 2,300,000.00 06/15/2020 06/15/2020 1.480 2.327 10,141.48 2,301,257.81 2,300,972.86 2,311,114.34 2,259,152.00 2,269,293.48

912828XM7 UNITED STATES TREASURY US GOV

Fixed N 2.276 AA+ Aaa 1,700,000.00 07/31/2020 07/31/2020 1.521 2.339 4,578.73 1,704,914.06 1,704,032.55 1,708,611.28 1,672,460.00 1,677,038.73

912828MP2 UNITED STATES TREASURY US GOV

Fixed N 1.811 AA+ Aaa 2,185,000.00 02/15/2020 02/15/2020 1.515 2.292 9,846.08 2,291,518.75 2,269,925.90 2,279,771.98 2,238,357.70 2,248,203.78

912828VP2 UNITED STATES TREASURY US GOV

Fixed N 2.267 AA+ Aaa 2,185,000.00 07/31/2020 07/31/2020 1.602 2.342 7,243.09 2,208,898.44 2,204,866.65 2,212,109.74 2,168,022.55 2,175,265.64

912828VZ0 UNITED STATES TREASURY US GOV

Fixed N 2.403 AA+ Aaa 1,685,000.00 09/30/2020 09/30/2020 1.738 2.362 1,670,256.25 1,670,348.33

9128284B3 UNITED STATES TREASURY US GOV

Fixed N 2.841 AA+ Aaa 2,650,000.00 03/15/2021 03/15/2021 2.431 2.396 2,907.44 2,645,755.87 2,645,771.21 2,648,678.65 2,648,383.50 2,651,290.94

912828A83 UNITED STATES TREASURY US GOV

Fixed N 2.639 AA+ Aaa 800,000.00 12/31/2020 12/31/2020 2.407 2.382 4,776.24 799,312.50 799,315.72 804,091.96 799,832.00 804,608.24

912828B90 UNITED STATES TREASURY US GOV

Fixed N 2.814 AA+ Aaa 1,500,000.00 02/28/2021 02/28/2021 1.549 2.403 2,608.70 1,532,109.38 1,519,185.01 1,521,793.71 1,483,035.00 1,485,643.70

912828W63 UNITED STATES TREASURY US GOV

Fixed N 1.916 AA+ Aaa 450,000.00 03/15/2020 03/15/2020 1.413 2.301 444,195.00 444,532.81

912828WS5 UNITED STATES TREASURY US GOV

Fixed N 1.231 AA+ Aaa 675,000.00 06/30/2019 06/30/2019 1.326 2.180 2,757.34 678,559.57 677,489.33 680,246.67 670,369.50 673,126.84

9128282Q2 UNITED STATES TREASURY US GOV

Fixed N 2.319 AA+ Aaa 550,000.00 08/15/2020 08/15/2020 1.463 2.338 1,025.55 550,580.08 550,475.66 551,501.21 539,368.50 540,394.05

912828D23 UNITED STATES TREASURY US GOV

Fixed N 1.065 AA+ Aaa 675,000.00 04/30/2019 04/30/2019 1.311 2.154 4,605.66 678,401.37 677,266.94 681,872.60 671,172.75 675,778.41 Security Type GASB 40 Trade Date Fullerton, City of Agg (47979) As of 03/31/2018 Dated: 04/13/2018
Tagged Passions:trade and security

5
Identifier, Description, Security Type

Coupon Type Callabl e Duration S P Rating, Moody's Rating Current Units Effective Maturity, Final Maturity Book Yield, Yield Accrued Balance Original Cost Book Value, Book Value + Accrued Market Value, Market Value + Accrued
Tagged Passions:market and security

912828X96 UNITED STATES TREASURY US GOV

Fixed N 2.068 AA+ Aaa 550,000.00 05/15/2020 05/15/2020 1.429 2.321 3,122.24 551,009.77 550,808.42 553,930.66 540,666.50 543,788.74

912828V31 UNITED STATES TREASURY US GOV

Fixed N 1.758 AA+ Aaa 450,000.00 01/15/2020 01/15/2020 1.383 2.272 1,299.03 449,912.11 449,934.18 451,233.21 442,926.00 444,225.03

912828W55 UNITED STATES TREASURY US GOV

Fixed N 3.745 AA+ Aaa 500,000.00 02/28/2022 02/28/2022 1.709 2.510 488,205.00 489,020.22

912828U81 UNITED STATES TREASURY US GOV

Fixed N 3.575 AA+ Aaa 500,000.00 12/31/2021 12/31/2021 1.684 2.502 2,513.81 506,503.91 505,707.94 508,221.75 491,040.00 493,553.81

912828F96 UNITED STATES TREASURY US GOV

Fixed N 3.409 AA+ Aaa 500,000.00 10/31/2021 10/31/2021 1.658 2.478 4,198.90 506,796.88 505,924.57 510,123.46 491,845.00 496,043.90

912828U73 UNITED STATES TREASURY US GOV

Fixed N 1.675 AA+ Aaa 450,000.00 12/15/2019 12/15/2019 1.380 2.272 1,818.85 449,947.27 449,961.92 451,780.78 443,250.00 445,068.85

912828WR7 UNITED STATES TREASURY US GOV

Fixed N 3.110 AA+ Aaa 500,000.00 06/30/2021 06/30/2021 1.616 2.446 2,670.93 509,316.41 508,016.27 510,687.20 495,000.00 497,670.93

9128282P4 UNITED STATES TREASURY US GOV

Fixed N 4.124 AA+ Aaa 400,000.00 07/31/2022 07/31/2022 1.762 2.538 1,243.09 402,109.38 401,885.70 403,128.79 389,156.00 390,399.09

912828RC6 UNITED STATES TREASURY US GOV

Fixed N 3.235 AA+ Aaa 500,000.00 08/15/2021 08/15/2021 1.629 2.467 1,320.79 509,375.00 508,113.32 509,434.10 494,470.00 495,790.79

912828WZ9 UNITED STATES TREASURY US GOV

Fixed N 3.883 AA+ Aaa 500,000.00 04/30/2022 04/30/2022 1.735 2.519 3,674.03 500,332.03 500,297.28 503,971.31 485,150.00 488,824.03

912828XH8 UNITED STATES TREASURY US GOV

Fixed N 2.191 AA+ Aaa 550,000.00 06/30/2020 06/30/2020 1.449 2.339 2,246.72 552,642.58 552,138.22 554,384.94 541,414.50 543,661.22

912828D80 UNITED STATES TREASURY US GOV

Fixed N 1.394 AA+ Aaa 240,000.00 08/31/2019 08/31/2019 1.345 2.225 237,993.60 238,332.73

912828SF8 UNITED STATES TREASURY US GOV

Fixed N 3.700 AA+ Aaa 200,000.00 02/15/2022 02/15/2022 1.834 2.488 196,406.00 196,903.24

9128282W9 UNITED STATES TREASURY US GOV

Fixed N 4.243 AA+ Aaa 125,000.00 09/30/2022 09/30/2022 1.921 2.550 121,432.50 121,438.90

912828XM7 UNITED STATES TREASURY US GOV

Fixed N 2.276 AA+ Aaa 475,000.00 07/31/2020 07/31/2020 1.601 2.339 1,279.35 475,315.43 475,264.93 476,544.28 467,305.00 468,584.35

912828MP2 UNITED STATES TREASURY US GOV

Fixed N 1.811 AA+ Aaa 200,000.00 02/15/2020 02/15/2020 1.515 2.292 204,884.00 205,785.24

912828RP7 UNITED STATES TREASURY US GOV

Fixed N 0.578 AA+ Aaa 325,000.00 10/31/2018 10/31/2018 1.267 1.977 2,388.12 326,751.95 325,904.89 328,293.01 324,567.75 326,955.87

912828M49 UNITED STATES TREASURY US GOV

Fixed N 4.325 AA+ Aaa 300,000.00 10/31/2022 10/31/2022 2.109 2.544 2,361.88 296,753.91 296,954.83 299,316.71 291,354.00 293,715.88

912828A75 UNITED STATES TREASURY US GOV

Fixed N 0.745 AA+ Aaa 500,000.00 12/31/2018 12/31/2018 1.289 2.080 1,885.36 501,347.66 500,783.98 502,669.34 497,830.00 499,715.36

912828WW6 UNITED STATES TREASURY US GOV

Fixed N 1.316 AA+ Aaa 725,000.00 07/31/2019 07/31/2019 2.176 2.197 1,952.69 719,732.43 719,764.72 721,717.41 719,540.75 721,493.44

9128283C2 UNITED STATES TREASURY US GOV

Fixed N 4.313 AA+ Aaa 500,000.00 10/31/2022 10/31/2022 2.539 2.552 4,198.90 488,398.44 488,418.65 492,617.54 488,125.00 492,323.90 Security Type GASB 40 Trade Date Fullerton, City of Agg (47979) As of 03/31/2018 Dated: 04/13/2018
Tagged Passions:trade and security

6
Summary

* Grouped by: Security Type. * Groups Sorted by: Security Type. * Filtered By: Description Payable and Description Receivable . * Weighted by: Market Value + Accrued, except Book Yield by Base Book Value + Accrued.

Identifier, Description, Security Type Coupon Type Callabl e Duration S P Rating, Moody's Rating Current Units Effective Maturity, Final Maturity Book Yield, Yield Accrued Balance Original Cost Book Value, Book Value + Accrued Market Value, Market Value + Accrued
Tagged Passions:market and security

9128284A5 UNITED STATES TREASURY US GOV

Fixed N 4.581 AA+ Aaa 325,000.00 02/28/2023 02/28/2023 2.554 2.566 325,874.25 326,616.10

912828F39 UNITED STATES TREASURY US GOV

Fixed N 1.463 AA+ Aaa 725,000.00 09/30/2019 09/30/2019 2.209 2.239 719,780.00 719,814.67

9128283S7 UNITED STATES TREASURY US GOV

Fixed N 1.793 AA+ Aaa 475,000.00 01/31/2020 01/31/2020 2.252 2.271 1,574.59 472,847.66 472,857.29 474,431.88 472,686.75 474,261.34

912828VP2 UNITED STATES TREASURY US GOV

Fixed N 2.267 AA+ Aaa 175,000.00 07/31/2020 07/31/2020 2.323 2.342 173,640.25 174,220.36

912828B58 UNITED STATES TREASURY US GOV

Fixed N 2.732 AA+ Aaa 700,000.00 01/31/2021 01/31/2021 2.385 2.397 2,465.47 695,023.44 695,037.73 697,503.20 694,792.00 697,257.47

912828WY2 UNITED STATES TREASURY US GOV

Fixed N 3.188 AA+ Aaa 475,000.00 07/31/2021 07/31/2021 2.438 2.453 1,771.41 472,142.58 472,149.56 473,920.97 471,917.25 473,688.66

912828A83 UNITED STATES TREASURY US GOV

Fixed N 2.639 AA+ Aaa 700,000.00 12/31/2020 12/31/2020 2.363 2.382 4,179.21 700,218.75 700,218.47 704,397.68 699,853.00 704,032.21

912828XS4 UNITED STATES TREASURY US GOV

Fixed N 1.151 AA+ Aaa 725,000.00 05/31/2019 05/31/2019 2.154 2.169 3,037.43 717,438.47 717,491.25 720,528.68 717,315.00 720,352.43 --- UNITED STATES TREASURY US GOV Fixed N 2.168 AA+ Aaa 43,880,000.00 06/27/2020 06/27/2020 1.613 2.321 156,255.64 44,195,349.67 44,087,559.15 44,243,814.80 43,464,833.85 43,621,089.49 Identifier, Description, Security Type Coupon Type Callabl e Duration S P Rating, Moody's Rating Current Units Effective Maturity, Final Maturity Book Yield, Yield Accrued Balance Original Cost Book Value, Book Value + Accrued Market Value, Market Value + Accrued --- --- --- Fixed --- 1.301 AA+ Aa1 103,282,459.40 08/03/2019 08/05/2019 1.524 2.029 274,718.68 103,929,235.81 103,598,660.14 103,873,378.82 102,693,226.45 102,967,945.13 Security Type GASB 40 Trade Date Fullerton, City of Agg (47979) As of 03/31/2018 Dated: 04/13/2018
Tagged Passions:trade, market, and security

7
Additional Disclosure:

The information on this website is for general purposes only and is not intended to provide specific advice or recommendations. All information presented on this website is obtained via electronic data transfer from the Custodian. While this information is reconciled on a daily basis, when available, accuracy is relied upon from the Custodian. Please review the data carefully. Should you have any questions regarding the information presented, calculation methodology, investment portfolio or security detail, or any other facet of the data, please feel free to contact us. This data is intended to detail our investment advisory activity as well as the activity of any client accounts managed by Public Trust Advisors, LLC (Public Trust). The custodian bank maintains the control of assets and executes and settles all investment transactions. The custodian statement is the official record of security and cash holdings transactions. Public Trust recognizes that clients may use these reports to facilitate record keeping; therefore it is recommended that the client reconcile this statement with their custodian bank statement. Many custodians use a settlement date basis which may result in the need to reconcile due to a timing difference. Please contact your relationship manager or call our toll free number 855-395-3954 with questions regarding your account. Public Trust does not have the authority to withdraw funds from or deposit funds to the custodian. Our clients retain responsibility for their internal accounting policies; implementing and enforcing internal controls and generating ledger entries or otherwise recording transactions. Pricing sources from our reporting platform are provided by Clearwater Analytics . Clearwater utilizes a hierarchical pricing model with multiple options for pricing sources. These options include custodial pricing, S P Capital IQ and other sources. Since multiple pricing hierarchies are offered through Clearwater Analytics, and client preferences regarding pricing sources may differ, it is important to verify the specific pricing hierarchy for each portfolio. Securities with short maturities and infrequent secondary market trades are typically priced via mathematical calculations. The securities in this investment portfolio, including shares of mutual funds, are not guaranteed or otherwise protected by Public Trust, the FDIC (except for certain non-negotiable certificates of deposit) or any government agency, unless otherwise specifically stated. Investing involves risk, including the possible loss of principal. Past performance is not an indicator of future performance or results. Public Trust statements present beginning and ending balances and are based on Market Value plus accrued interest on a Trade Date basis. Customized reports made available to the end user either from Public Trust or through the online reporting platform may present information and portfolio analytics using various optional methods including, but not limited to, historical cost, amortized cost, and market value. Custom reports may also differ from the information received from the custodian as a result of additional formulas and filters created based on end user preferences. The investment advisor providing these services is Public Trust Advisors, LLC, an investment adviser registered with the U.S. Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940, as amended. Registration with the SEC does not imply a certain level of skill or training. Public Trust is required to maintain a written disclosure brochure of our background and business experience. If you would like to receive a copy of our current disclosure brochure, privacy policy, or code of ethics please contact us at the address below.

Tagged Passions:manager, policy, recognition, boards and commissions, services, trade, risk, investment, historical, training, privacy, ethics, settlement, funding, market, performance, security, and business

Public Trust Advisors 717 17th St. Suite 1850 Denver, CO 80202

Disclaimer Dated: 04/13/2018

8
City of Fullerton 1-3 Year Portfolio Public Trust Advisors LLC 303 W. Commonwealth Ave. 777 S Figueroa St. 805

Fullerton, CA 92832 Los Angeles, CA 90017 Quarterly Investment Report for Period Ended March 31, 2018 Investment Management Portfolio Review Page
Tagged Passions:investment

Investment Portfolio Summary Comparison 3

Total Return Performance Summary 4 Investment Portfolio Maturity Distribution 5 Investment Portfolio Maturity Distribution By Security Type 6 Investment Report Ratings Distribution 7
Tagged Passions:investment, performance, and security

Investment Portfolio Security Distribution - Market Value 8

No additional detail provided

Tagged Passions:investment, market, and security

Investment Portfolio Security Distribution - Historical Cost 9

No additional detail provided

Tagged Passions:investment, historical, and security

Additional Disclosure 10

Security Concentration 11

Tagged Passions:security

City of Fullerton 1-3 Year Portfolio Summary

City of Fullerton 1-3 Year Portfolio

Beginning Balance Ending Balance Portfolio Characteristic Beginning Balance Ending Balance Historical Cost 51,689,098.50 51,894,406.24 Book Yield Gross 1.42 1.50 Book Value 51,431,625.54 51,602,627.27 Market Yield Gross 1.92 2.31 Accrued Interest 211,132.52 191,816.75 Duration 1.80 Years 1.68 Years Book Value Plus Accrued 51,642,758.06 51,794,444.03 Weighted Effective Maturity 1.85 Years 1.73 Years
Tagged Passions:historical and market

Net Unrealized Gain/Loss (445,352.18) (655,356.04) Weighted Final Maturity 1.86 Years 1.74 Years

Market Value Plus Accrued (2) 51,197,405.88 51,139,087.98 Net Pending Transactions 20,136.59 22,178.33 Market Value Plus Accrued Net (2) 51,217,542.47 51,161,266.31

Tagged Passions:market

City of Fullerton 1-3 Year Portfolio

Net Income Portfolio Compliance Compliant Interest Income 237,890.77 Security Distribution YES
Tagged Passions:compliance and security

Net Amortization/Accretion (51,876.82) Maturity Distribution YES

Net Realized Gain/Loss(3) (31,331.94) Rating Distribution YES

No additional detail provided

Net Income 154,682.01

No additional detail provided

City of Fullerton 1-3 Year Portfolio Summary Comparison for the period January 1, 2018 to March 31, 2018

(1) Payables represent amounts due to settle security transactions that have been executed but have not settled as of period end. The funds used to settle these trades may come from a variety of sources including cash within the portfolio, proceeds from future security transactions including maturities and sales, or other sources including money market funds. For reporting purposes, a payable is created for over-period settlements which are reflected in the detailed holdings. (2) Market Value Plus Accrued Net represents the market value of the portfolio net payables and recievables from transactions that settle in the following reporting period. (3) MBS paydowns may result in negative realized losses rather than amortization in as a result of accounting method. Page 3
Tagged Passions:trade, settlement, funding, market, sale, and security

Trailing Month Trailing Quarter Year to Date Since Inception*

Total Return Performance Periodic Periodic Periodic* Annualized
Tagged Passions:trails and performance

City of Fullerton 1-3 Year Portfolio 0.17 (0.11 ) (0.04 ) 0.94

BofA ML 1-3 Year Govt/Corp AA 0.19 (0.13 ) (0.10 ) 0.60 Yield to Maturity Ending Balance

City of Fullerton 1-3 Year Portfolio 2.31

BofA ML 1-3 Year Govt/Corp AA 2.32 Duration June 2017 September 2017 December 2017 March 2018

City of Fullerton 1-3 Year Portfolio 1.267 1.690 1.800 1.680

BofA ML 1-3 Year Govt/Corp AA 1.820 1.810 1.800 1.790

*Total return since inception date: January 1, 2015. Fiscal Year Ending June 30th.

Annualized total return performance presented for investment periods longer than one year. Return information obtained from Bloomberg.
Tagged Passions:investment and performance

City of Fullerton 1-3 Year Portfolio Total Return January 1, 2018 to March 31, 2018

0.17

-0.11 -0.04

0.94 0.19

-0.13 -0.10

0.60 -0.20 0.00 0.20 0.40 0.60 0.80 1.00

Trailing Month Trailing Quarter Year to Date Since Inception*

Y ie ld
Tagged Passions:trails

Total Return Performance vs. Benchmark

No additional detail provided

Tagged Passions:performance

City of Fullerton 1-3 Year Portfolio BofA ML 1-3 Year Govt/Corp AA

1.27 1.69 1.80 1.68 1.82 1.81 1.80 1.79 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00

June 2017 September 2017 December 2017 March 2018

Y e ar s

Portfolio vs. Benchmark Duration

No additional detail provided

City of Fullerton 1-3 Year Portfolio BofA ML 1-3 Year Govt/Corp AA

Maturity Distribution Beginning Balance Ending Balance Portfolio Allocation Distribution Change 0-3 Months 199,217.91 336,650.68 0.66 0.27 3-6 Months 250,484.90 498,218.11 0.97 0.48 6-9 Months 497,604.38 1,499,223.19 2.93 1.96 9-12 Months 1,495,993.02 3,113,950.89 6.09 3.17 1-2 Years 29,217,613.43 28,651,077.32 56.03 -1.04 2-3 Years 19,536,492.24 17,039,967.81 33.32 -4.84

3-4 Years - - 0.00 0.00

No additional detail provided

4-5 Years - - 0.00 0.00

No additional detail provided

5-6 Years - - 0.00 0.00

No additional detail provided

6
Years + - - 0.00 0.00

No additional detail provided

Total Portfolio 51,197,405.88 51,139,087.98 100.00

No additional detail provided

City of Fullerton 1-3 Year Portfolio Maturity Distribution Market Value Basis January 1, 2018 to March 31, 2018

- 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000 0-3 M 3-6 M 6-9 M 9-12 M 1-2 Yr 2-3 Yr 3-4 Yr 4-5 Yr 5-6 Yr 6 Yr + Maturity Distribution Comparison January 1, 2018 March 31, 2018 0-3 M 0.66 3-6 M 0.97 6-9 M 2.93 9-12 M 6.09 1-2 Yr 56.03 2-3 Yr 33.32 Maturity Distribution Security Distribution 0-3 Months 3-6 Months 6-9 Months 9-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years Total Portfolio
Tagged Passions:market and security

Money Market Funds 85,229.48 - - - - - - - 85,229.48

No additional detail provided

Tagged Passions:funding and market

Certificates of Deposit 251,421.20 498,218.11 496,491.80 - 963,967.11 244,113.98 - - 2,454,212.19

U.S. Treasury Notes - - - - 12,103,984.02 14,514,090.91 - - 26,618,074.94

No additional detail provided

U.S. Agency Notes - - - - - - - - -

No additional detail provided

Federal Inst. (GSE) - - 1,002,731.39 1,523,230.00 9,622,563.82 1,984,406.67 - - 14,132,931.88

No additional detail provided

Asset Backed (ABS) - - - - - - - - -

No additional detail provided

City of Fullerton 1-3 Year Portfolio Maturity Distribution Market Value Basis as of March 31, 2018

- 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000 0-3 Months 3-6 Months 6-9 Months 9-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years Maturity Distribution By Type Municipal Bonds Asset Backed (ABS) Corporate Notes Federal Inst. (GSE) U.S. Agency Notes U.S. Treasury Notes Commercial Paper
Tagged Passions:commercial, market, and bond

Certificates of Deposit

Money Market Funds

LGIP Cash S P Rating Distribution Ending Balance Portfolio Allocation Short Term Rating Distribution
Tagged Passions:funding and market

A-1+ - 0.00

Total Short Term Ratings 1,204,746.80 2.36 Long Term Rating Distribution

AAA Rating 1,562,527.28 3.06

No additional detail provided

AA Rating 46,162,837.24 90.27

No additional detail provided

A
Rating 959,511.27 1.88

Below A - 0.00

Not Rated 1,249,465.39 2.44

Total Long Term Rating 49,934,341.18 97.64

Total Portfolio 51,139,087.98 100.00

No additional detail provided

Moody's Rating Distribution

Ending Balance Portfolio Allocation Short Term Rating Distribution Total Short Term Ratings 1,493,608.09 2.92 Long Term Rating Distribution

Aaa Rating 41,426,654.85 81.01

No additional detail provided

Aa Rating 4,369,997.18 8.55

No additional detail provided

A
Rating 959,511.27 1.88

Below A - 0.00

Not Rated 2,889,316.60 5.65

Total Long Term Rating 49,645,479.89 97.08

Total Portfolio 51,139,087.98 100.00

No additional detail provided

City of Fullerton 1-3 Year Portfolio Rating Distribution Market Value Basis as of March 31, 2018

A-1 0.97 A-2 1.39 AAA Rating 3.06 AA Rating 90.27 A Rating 1.88 Not Rated 2.44 Portfolio Allocation By Standard and Poors' Rating P-1 2.44 P-2 0.48 Aaa Rating 81.01 Aa Rating 8.55 A Rating 1.88 Not Rated 5.65 Portfolio Allocation By Moody's Rating Security Distribution Beginning Balance Ending Balance Portfolio Allocation Change in Allocation Book Yield Permitted by Policy* Compliant FFCB - - 0.00 0.00 0.00 40.00 YES Fed Instrumentality Subtotal 14,218,125.11 14,132,931.88 27.64 -0.13 1.26 100.00 YES
Tagged Passions:policy, poverty, market, and security

LAIF Successor Agency - - 0.00 0.00 0.00 60.00 YES

Cash - - 0.00 0.00 0.00 100.00 YES U.S. Treasury Notes 27,380,617.45 26,618,074.94 52.05 -1.43 1.51 100.00 YES

U.S. Agency Notes - - 0.00 0.00 0.00 100.00 YES

No additional detail provided

Asset Backed Securities - - 0.00 0.00 0.00 20.00 YES

No additional detail provided

Corporate Notes 6,960,725.36 7,848,639.50 15.35 1.75 1.76 30.00 YES

No additional detail provided

Money Market Funds 184,029.42 85,229.48 0.17 -0.19 1.23 20.00 YES

Tagged Passions:funding and market

Certificates of Deposit 2,453,908.54 2,454,212.19 4.80 0.01 2.01 25.00 YES

Total Portfolio Market Value 51,197,405.88 51,139,087.98 100.00 1.50
Tagged Passions:market

*Permitted allocation based on aggregate assets as defined within the investment policy.

Tagged Passions:policy and investment

City of Fullerton 1-3 Year Portfolio Market Value Basis Security Distribution January 1, 2018 to March 31, 2018

10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 FN M A FH LM C FF C B FH LB LA IF C it y LA IF S A C as h U ST A B S C P C o
Tagged Passions:market and security

rp B A

M M F M u n i Su p ra C D Asset Balance By Security Type (in millions) January 1, 2018 March 31, 2018 FNMA 7.30 FHLMC 16.45 FHLB 3.88 UST 52.05 Corp 15.35 MMF 0.17 CD 4.80 Ending Portfolio Allocation Security Distribution Beginning Balance Ending Balance Portfolio Allocation Change in Allocation Book Yield Permitted by Policy* Compliant FFCB - - 0.00 0.00 0.00 40.00 YES Fed Instrumentality Subtotal 14,450,899.72 14,435,600.72 27.82 -0.14 1.26 100.00 YES

Tagged Passions:policy and security

LAIF Successor Agency - - 0.00 0.00 0.00 60.00 YES

Cash - - 0.00 0.00 0.00 100.00 YES U.S. Treasury Notes 27,608,633.99 26,998,868.37 52.03 -1.39 1.51 100.00 YES

U.S. Agency Notes - - 0.00 0.00 0.00 100.00 YES

No additional detail provided


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