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HomeMy WebLinkAbout08 QUARTERLY INVESTMENT REPORT FOR THE CITY OF TUSTIN & THE SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT AGENCYAgenda Item 8 • Reviewed: AGEAGENDA � /� REPORT r�T DA RE ORT City Manager Finance Director ` MEETING DATE: FEBRUARY 20, 2018 TO: JEFFREY C. PARKER, CITY MANAGER FROM: JOHN A. BUCHANAN, FINANCE DIRECTOR JENNY LEISZ, DEPUTY DIRECTOR - FINANCIAL SERVICES SUBJECT: QUARTERLY INVESTMENT REPORT FOR THE CITY OF TUSTIN AND THE SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY SUMMARY: Government Code Section 53646 requires that the Treasurer make an Investment Report to the City Council at least quarterly showing balances by authorized investment and certifying its compliance with the adopted Investment Policy. RECOMMENDATION: Receive and file. DISCUSSION: In compliance with Government Code Section 53646, the attached Investment Report reporting cash and investments for the City of Tustin and the Successor Agency for the Tustin Community Redevelopment Agency for the quarter ending December 31, 2017 is rendered. The City's total cash and investments as of December 31, 2017 were $219.3 million, an increase of $3.9 million from September 30, 2017 total cash and investments of $215.4 million. The increase in cash and investments of $3.9 million is primarily due to property taxes received in December which were offset by various outflows associated with capital projects. The weighted average portfolio yield as of December 31, 2017 was 1.57%, 11 basis points higher than the weighted average portfolio yield of 1.46% as of September 30, 2017. The primary reason for the slight increase in the weighted average portfolio yield is the reinvestment of funds maturing during the quarter in higher earning investments in negotiable certificates of deposit, corporate bonds, and U.S. agencies with yields from 1.75% to 2.4%. QUARTERLY INVESTMENT REPORT FOR THE CITY OF TUSTIN AND THE SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT AGENCY Page 2 of 2 The weighted average days to maturity were 727 days as of December 31, 2017, an increase from 651 days as of September 30, 2017. The increase in the weighted average days to maturity is due to reinvestment of funds at longer maturity dates in the 4 to 5 year range. The investment portfolio is currently laddered to reflect the projected cash flow needs of the City for the completion of various capital projects primarily within the Legacy and forfunding of the new Tustin Unified School District school building project. In addition, the portfolio is more liquid than would normally be managed to allow for possible additional outflows within the next year related to unfunded liabilities for pension and other post -employment benefits. ;;l nny Leisz Deputy Director - Financial Services Joh A. Buchanan nance Director Attachment: December 31, 2017 Quarterly Investment Report NIQ b e Yom,•: Ak, lb j 4 City of Tustin Treasurer's Quarterly Investment Report December 2017 900.0000 800.0000 700.0000 600.0000 500.0000 400.0000 300.0000 200.0000 100.0000 y y y y y y y y y y y y y O O O O O O O O O O O O O ti ti ti ti ti ti ti ti ti ti ti ti ti y\ y\ o\ o\ y\ y\ o\ o\ y\ y\ o\ o\ y\ yti a yti 3 yti 0 e yti 2.00% 1.90% 1.80% 1.70% 1.60% 1.50% 1.40% 1.30% 1.20% 1.10% 1.00% 0.90% 0.80% 0.70% 0.60% 0.50% 0.40% 0.30% 0.20% 0.10% 0.00°/% OyA (p O,h O,y Oyh O,0 6y0 O,0 6,0 O,� 011 IS" Oyu y91 City of Tustin SUS Treasury / 2yr --f—LAIF Yield (%) CITY OF TUSTIN Monthly Investment Report December 31, 2017 DIVERSIFICATION Investment Portfolio / Cost Value $219,315,264 Negotiable Certificate of Deposit Corporate $36,205,115 Bonds Municipal Bonds 16.51% $22,809,712 $8,508,989 10.40% 3.88% Liquid (Daily) $59,388,866 Federal Agencies 27.08% $75,894,978 34.61% US Treasury $16,507,604 7.53% Page 2 of 19 Municipal Bonds $5,023,858 2.74% DIVERSIFICATION Investment Portfolio / Cost Value $183,228,804 Negotiable Certificate of Deposit $14,883,000 8.12% Federal Agencies $38,893,500 21.23% .4 Corporate Bonds $22,969,148 12.54% Liquid (Daily) $70,001,723 US Treasury $31,457,575 17.17% CITY OF TUSTIN Monthly Investment Report December 31, 2017 Liquidity Distribution 45.00% <_ 15% of total portfolio 10.40% Yes <_ 5 years remaining maturity n/a 0 Commercial Paper <_ 25% of total portfolio 0.00% 40.00% m n/a Yes If >_ 15% of total portfolio, weighted avg must be <_ 90 days v v Yes Municipal Bonds 515%of total portfolio 3S.00% Yes <_ 5% in one issuer 1.82% Yes US Agency Bonds / Notes 30.00% <_ 75% of total portfolio 34.61% Yes <_ 5 years remaining maturity n/a Yes 25.00% <_ 5 years remaining maturity n/aYes Certificate of Deposit - Negotiable '_ d <_ 30% of total portfolio 16.51% Yes 0 rn n/a 20.00% >_ 75% of Fiscal Year General Fund Budgeted Expenditures <_ 1 year N Yes 15.00% <_ 5% of total portfolio in one issuer 2.74% Yes 0 0 10.00% m 0 0 m 5.00% 0 Q 0 01 o 0.00% UP TO 1 2 YEARS 3 YEARS 4 YEARS 5 YEARS > 5 YEARS YEAR Up to 1 year 2 years _ 3 years 4 years 5 years > 5 years COMPLIANCE Investment Policy Invested Compliance Commercial Notes <_ 15% of total portfolio 10.40% Yes <_ 5 years remaining maturity n/a Yes Commercial Paper <_ 25% of total portfolio 0.00% Yes <_ 270 days remaining maturity n/a Yes If >_ 15% of total portfolio, weighted avg must be <_ 90 days n/a Yes Municipal Bonds 515%of total portfolio 3.88% Yes <_ 5% in one issuer 1.82% Yes US Agency Bonds / Notes <_ 75% of total portfolio 34.61% Yes <_ 5 years remaining maturity n/a Yes US Treasury <_ 5 years remaining maturity n/aYes Certificate of Deposit - Negotiable '_ d <_ 30% of total portfolio 16.51% Yes <_ 5 years maturity n/a Yes >_ 75% of Fiscal Year General Fund Budgeted Expenditures <_ 1 year 162.30% Yes Commercial Paper and Commercial Notes <_ 5% of total portfolio in one issuer 2.74% Yes Page 3 of 19 CITY OF TUSTIN Monthly Investment Report December 31, 2017 COMPLIANCE Investment Policy/ Corporate Bonds Corporate Bonds are required, at Settlement Date, to have an "A" rating from one of the three rating agencies. Apple Inc. Apple Inc. Barclays Bank PLC Barclays Bank PLC Chevron Corporation Coca-Cola Co IBM Credit LLC John Deere Capital Corp Johnson & Johnson Microsoft Corporation Microsoft Corporation Toyota Motor Credit Corp Toyota Motor Credit Corp VISA Inc Wal-Mart Stores Inc. Face CUSIP Amount 037833BS8 2,000,000 037833CQ1 2,000,000 06741V U WO 1,000,000 06744CFN6 2,000,000 166764BN9 2,000,000 191216BT6 1,000,000 44932HAC7 1,000,000 24422ESB6 2,125,000 478160BG8 2,000,000 594918AV6 1,000,000 594918BG8 1,000,000 89236TEC5 2,482,750 89236TDP7 1,000,000 92826CAG7 1,000,000 931142DF7 1,000,000 Rating Settlement Date AA+ AA+ Al A- AA- AA - A+ A2 AAA AAA AAA AA- AA - A+ AA Page 4 of 19 Prior Month Rating Current Rating S&P Moody's S&P Fitch Aa1 AA+ NR Aa1 AA+ NR Al A A Al A A Aa2 AA- NR Aa3 AA- A+u Al A+ A+ A2 A A Aaa AAA AAA Aaa AAA AA+u Aaa AAA AA+u Aa3 AA- Au Aa3 AA- Au Al A+ NR Aa2 AA AA Page 4 of 19 Prior Month Rating Moody's S&P Fitch Aa1 AA+ NR Aa1 AA+ NR Al A A Al A A Aa2 AA- NR Aa3 AA- A+u Al A+ A+ A2 A A Aaa AAA AAA Aaa AAA AA+u Aaa AAA AA+u Aa3 AA- Au Aa3 AA- Au Al A+ NR Aa2 AA AA Compliance Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes CITY OF TUSTIN Monthly Investment Report December 31, 2017 Cash and Investments / Summary [1] Description / Limits Investment Portfolio Daily - Limit: [6] Reconciled / Bank of America Account - General Checking Orange County Investment Pool LAIF / Local Agency Investment Fund California Asset Management Program (CAMP) Performance Measurement Restricted / Un -Restricted Funds UN -RESTRICTED General Fund cash balance as of 12/31/2017 (unaudited) SEMI -RESTRICTED Cash Balance as of 12/31/2017 (unaudited) Capital Projects, Proceeds from Land Sales, Backbone Infrastructure RESTRICTED Cash balances as of 12/31/2017 (un -audited) Successor Agency Community Redevelopment Agency / Cash & Investments t1Vy O UM _'_ - --- ------- --- ----- - [2] [3] [4] [5] Face Amount YTM@Cost Credit Rating Cost Value + Accrued Market Value Shares Interest 159,662,000.00 1.72 159,926,397.70 158,389,234.80 Page 5 of 19 0.25 N/A 4,330,980.86 4,330,980.86 1.07 [7] 10,622,329.92 10,622,329.92 1.24 N/A 2,573,130.50 2,573,130.50 1.29 AAAm 41,862,425.03 41,862,425.03 59,388,866.31 59, 388,866.31 Investment Portfolio TOTAL Weighted Average Days to Maturity Weighted Average Yield Benchmark / Treasury 2 Year Total Tota I 219, 315, 2 6 4.01 217,778,101.11 727 1.57% 1.89% 27,658,514.09 90,984,379.90 97,693,633.32 216,336,527.31 2,978,736.70 CITY OF TUSTIN Monthly Investment Report December 31, 2017 Restricted Deposits with Fiscal Agents [1] Description / Limits t'tY O trs►�t [2] [3] [4] [5] Face Amount YTM@Cost Credit Rating Cost Value + Accrued Market Value Shares Interest 2016 Successor Agency Tax Allocation Bonds, Refunding 1,049.37 2016 Water Revenue Bonds, Refunding 158.94 2012 Water Revenue Bonds - Refunding 151.12 2013 Water Revenue Bonds 136.09 CFD 04-1 627,873.76 CFD 06-1 7,093,622.95 CFD 07-1 2,233,871.20 CFD 14-1 23,932,776.60 33,889,640.03 N/A 1,049.37 1,049.37 N/A 158.94 158.94 N/A 151.12 151.12 N/A 136.09 136.09 N/A 627,873.76 627,873.76 N/A 7,093,622.95 7,093,622.95 N/A 2,233,871.20 2,233,871.20 N/A 23,932,776.60 23,932,776.60 33,889,640.03 33,889,640.03 Restricted Deposits with Fiscal Agents TOTAL Page 6 of 19 33,889,640.03 33,889,640.03 CITY OF TUSTIN &i;', Monthly Investment Report December 31, 2017 Footnotes (1) DESCRIPTION -LIMITS reflects the various authorized investments as documented in the most current adopted investment policy and the allowable percentage of total portfolio per investment type. (2) FACE AMOUNT/SHARES is the full value of the security before any discount or premium is paid at purchase. (3) CREDIT RATING is the highest ratings from Standards & Poor's, Moody's or IDC Publishing Inc for bank ratings. IDC ratings are 1 (lowest) to 300 (highest). (4) COST VALUE + ACCRUED INTEREST is the original amount paid, including premiums/discounts, and purchased accrued interest. Amortization of discount/premium booked annually or when investment is sold/called/or matures. (5) MARKET VALUE is the price at which similar securities are currently trading. Current market values are provided by Bank of America and the State Treasurer's Office on all securities or deposits held in safekeeping for the City and the Successor Agency for the Tustin Community Redevelopment Agency. Market value differences are only booked at year end. (6) EARNINGS ALLOWANCE on compensating bank balances to offset bank activity charges. Allowance is included in the Average Yield calculation. The cash balances include amounts "swept" from account for overnight investments. (7) ORANGE COUNTY INVESTMENT POOL rating is AAAm. Orange County Treasury Extended Fund is not rated by sponsor's choice. (8) Investments and earnings on monies held by fiscal agents generally are limited as to type and yield by the bond documents. Certifications We certify that this report reflects all City of Tustin and the Successor Agency for the Tustin Community Redevelopment Agency (SATCRA) pooled investments. The investments represented in this report are in conformity with the current adopted investment policy of the City of Tustin. The market values represented in this report are provided by the Custodian Bank and Trustees currently holding securities for the City of Tustin and SATCRA. The investment program herein shown provides sufficient cash flow liquidity to meet the next twelve (12) months estimated expenditures. This statement is prepared in conformance with Section 53646 of the Government Code. R. rence Friend, Chair City of Tustin Audit Commission Page 7 of 19 Jed/ rey .Park r, City Manager/ Treasurer Ci /y o ustin CITY OF TUSTIN Monthly Investment Report December 31, 2017 . ^ � �.�gn .N •. #4 �. '•''[7�Cr s^N5'q�.i<4.5 ,. °aiHz7'`rCl i,f�'J'S..� �:f-_�.-4� � /3C ���G ��' Com Mance Investment Pollc t 5� u s # t„� a r f �,1�€ =r �r.,t.'..,.,_„z;ra"F!• Description / Limits Face Amount Maximum Allowable Total Cost Value + Accrued Market Value Shares Maturity - Years Portion of Percentage Interest Portfolio of Portfolio US Treasury 16,500,000.00 5 No Limit US Agency 75,900,000.00 5 75% Municipal Bonds 8,430,000.00 5 15% Commercial Paper 0.00 5 15% Certificate of Deposit / Negotiable 36,207,000.00 N/A 30% Corporate Bonds 22,625,000.00 5 15% Cash N/A N/A N/A Orange County Investment Pool N/A N/A N/A LAIF / Local Government Investment Pool N/A N/A N/A California Asset Management Program (CAMP) N/A N/A N/A Restricted Cash with Fiscal Agents 7.53% 16,507,603.99 16,456,923.50 34.61% 75,894,977.55 75,192,849.05 3.88% 8,508,989.40 8,393,045.70 0.00% 0.00 0.00 16.51% 36,205,114.83 35,895,076.17 10.40% 22,809,711.93 22,451,340.38 1.97% 4,330,980.86 4,330,980.86 4.84% 10,622,329.92 10,622,329.92 1.17% 2,573,130.50 2,573,130.50 19.09% 41,862,425.03 41,862,425.03 100.00% 219,315,264.01 217,778,101.11 33,889,640.03 33,889,640.03 Investment Portfolio TOTAL 253,204,904.04 251,667,741.14 * Cash with Fiscal Agents are the Reserve and Construction Funds, held by Trustees for various City and RDA Bond Issues. Investment options are limited to those specifically permitted by bond documents. Page 8 of 19 City of Tustin Compliance Report - Investment Policy Report Format: By Transaction Group By: Asset Class Average By: Cost Value Portfolio / Report Group: All Portfolios As of 12/31/2017 Page 9 of 19 Days To Maturity Settlement YTM @ Credit Credit Face Cost Value + Accrued % of Description CUSIP/Ticker Maturity Date Date Cost Rating 1 Rating 2 Amount/Shares Interest Cost Price Market Value Portfolio > Liquid Assets Local Agency Investment Fund LGIP LGIP0936 1 N/A 6/30/2015 1.239 NR NR 1,515,221.67 1,515,221.67 100 1,515,221.67 0.69 California Asset Management Program LGIP CAMP6045 1 N/A 5/10/2017 1,290 NR NR 41,862,425.03 41,862,425.03 100 41,862,425.03 19.10 Bank of America - Checking MM MM0220 1 N/A 6/30/2015 0.250 NR NR 4,330,980.86 4,330,980.86 100 4,330,980.86 1.98 Orange County Investment Pod LGIP LGIP91-E 1 N/A 6/30/2015 1.070 NR NR 10,622,329.92 10,622,329.92 100 10,622,329.92 4.85 Local Agency Investment Fund LGIP LGIP0002 1 N/A 6/30/2015 1.239 NR NR 1,057,908.83 1,057,908.83 100 1,057,908.83 0.48 Sub Total / Average 1 1.173 59,388,866.31 59,388,866.31 100 59,388,866.31 27.10 First Bank of Highland Park 2.2 11/8/2022 319141JF5 1,773 11/8/2022 11/8/2017 2.200 NR NR 248,000.00 248,000.00 100 244,845,69 0.11 Mountain America Credit Union 2.3 11/8/2022 , 62384RAC0 1,773 11/8/2022 11/8/2017 2.300 NR NR 248,000.00 248,000.00 100 245,968,38 0.11 Signature Bank Chicago 2.15 11/8/2022 82669VBY6 1,773 11/8/2022 11/8/2017 2.150 NR NR 248,000.00 248,000.00 100 244,280.99 0.11 Allegiance Bank 2.2 11/3/2022 01748DAY2 1,768 11/3/2022 11/3/2017 2.200 NR NR 248,000.00 248,000.00 100 244,879.66 0.11 Alliance Credit Union 2.25 10/13/2022 01859BAA3 1,747 10/13/2022 10/13/2017 2.250 NR NR 248,000.00 248,000.00 100 245,635.82 0,11 First Premier Bank 2.05 8/22/2022 33610RQY2 1,695 8/22/2022 8/21/2017 2.050 NR NR 248,000.00 248,000.00 100 243,905.27 0.11 The First National Bank of Mayfield 28/18/2022 330459BUI 1,691 8/18/2022 8/18/2017 2.000 NR NR 248,000.00 248,000.00 100 243,385.71 0.11 Fidelity Coop Bank Leominster Step 8/9/2022-17 316077CV6 1,682 8/9/2022 8/9/2017 1.977 NR NR 248,000.00 247,008.00 99.6 245,482.80 0.11 First Internet Bank of Indiana 2.05 7/14/2022 32066GCQ1 1,656 7/14/2022 7/14/2017 2.050 NR NR 248,000.00 248,000.00 100 244,254.21 0.11 B Bank Delaware 2.2 7/12/20212/2022 06740KKD8 1,654 7/12/2022 7/12/2017 2.200 NR NR 247,000,00 247,000.00 100 244,888.15 0.11 First State Community Bank 2,1 6/30/2022-18 33708UCF4 1,642 6/30/2022 6/30/2017 2.100 NR NR 248,000.00 248,000.00 100 244,930.26 0.11 Traverse City State Bank 2 6/28/2022 894333FF5 1,640 6/28/2022 6/28/2017 2.000 NR NR 248,000.00 248,000.00 100 243,888.90 0.11 First National Bank of Syracuse 2.1 6/28/2022-17 334342CA8 1,640 6/28/2022 6/28/2017 2.100 NR NR 248,000.00 248,000,00 100 244,930.75 0.11 National Bank of Commerce 2,15 6/27/2022-17 633368EK7 1,639 6/27/2022 6/27/2017 2.150 NR NR 248,000.00 248,000.00 100 245,484.54 0.11 DNB First, National Association 2 6/23/2022 25590AAH3 1,635 6/23/2022 6/23/2017 2.000 NR NR 248,000.00 248,000.00 100 243,918.91 0.11 307764AA8 1,628 6/16/2022 6/26/2017 2.053 NR NR 248,000.00 247,515.89 99.75 244,001.25 0.11 Page 9 of 19 Days To Maturity Settlement YTM @ Credit Credit Face Cost Value + Accrued % of Description CUSIPMcker Maturity Date Date Cost Rating 1 Rating 2 Amount/Shares Interest Cost Price Market Value Portfolio Farmers & Mechanics FS & LA 2 6/16/2022-17 First State Bank of DeQueen Step 5/26/2022-18 336460CG3 1,607 5/26/2022 5/26/2017 1.860 NR NR 248,000.00 248,000.00 100 237,830.00 0.11 The North Jackson Bank 2.05 5!9/2022 32063KAS1 1,590 5/9/2022 11/8/2017 2.050 NR NR 248,000.00 248,000.00 100 244,843.46 0.11 Celtic Bank 2.14/21/2022 15118RMF1 1,572 4/21/2022 4/21/2017 2.100 NR NR 248,000.00 248,000.00 100 245,507.10 0.11 Internaflonal Bank of Chicago 2.1 4/20/2022-18 4/20/2 45906ABR7 1,571 4/20/2022 10/20/2017 2.100 NR NR 248,000.00 248,000.00 100 245,531.16 0.11 BMO Hams Bank Step 4/13/2022- 17 05581 WNM3 1,564 4/13/2022 4/13/2017 2.143 NR NR 248,000.00 248,000.00 100 246,927.15 0.11 United Community Bank 2.05 4/12/2022-18 90983WBN0 1,563 4/12/2022 10/12/2017 2,050 NR NR 248,000.00 248,000.00 100 245,090.96 0.11 Nebraska State B&T Co. 1.95 2121/2022 63969ACD4 1,513 2/21/2022 4/21/2017 1.950 NR NR 248,000.00 248,000.00 100 244,511.63 0.11 The Ohio Valley Bank Company 1.9 1/19/2022 677721CN0 1,480 1/19/2022 7/19/2017 1.900 NR NR 248,000.00 248,000.00 100 244,312.24 0.11 American Eagle Bank 2 12/30/2021 02554BCR0 1,460 12/30/2021 7/13/2017 2.000 NR NR 247,000.00 247,175.95 100 244,455.65 0.11 Great Plains Bank 1.85 12/21/2021 39115UAZ6 1,451 12/21/2021 4/21/2017 1.850 NR NR 248,000.00 248,000.00 100 244,056.55 0.11 Commerce Bank Geneva MN 2 11/26/2021-18 20056QQQ9 1,426 11/26/2021 8/25/2017 2.000 NR NR 248,000.00 248,000.00 100 245,571.58 0.11 Northfield Bank 1.95 10/20/2021 66612ABV9 1,389 10/20/2021 11/1/2017 2.029 NR NR 248,000.00 247,414.99 99.7 245,260.84 0.11 Uinta County State Bank 2.05 10/13/2021 903572CC7 1,382 10/13/2021 10/13/2017 2.050 NR NR 247,000.00 247,000.00 100 245,192.21 0.11 State Bank of Chilton 2 10/13/2021- 18 85641PDOO 1,382 10/13/2021 10/13/2017 2.000 NR NR 248,000.00 248,000.00 100 245,741,46 0.11 Enerbank USA 1.45 8/26/2021 29266N31-18 1,334 8/26/2021 8/26/2016 1.450 NR NR 248,000.00 248,000.00 100 241,111.80 0.11 Palmetto Heritage Bank and Trust 1.9 8/20/2021 69709QAM3 1,328 8/20/2021 8/21/2017 1.900 NR NR 248,000.00 248,000.00 100 245,053.76 0.11 Commercial Bank Alma Mi 1.4 8/16/2021 201282HD5 1,324 8/16/2021 8/16/2016 1.400 NR NR 248,000.00 248,000.00 100 240,749.47 0.11 Partners Bank of California 1.85 8!16/2021 70212YAW2 1,324 8/16/2021 8/15/2017 1.850 NR NR 248,000.00 248,000.00 100 244,650.26 0.11 JPMorn Chase Bank NA 1.65 8!16/202021 48126XAH8 1,324 8/16/2021 8/16/2016 1.650 NR NR 248,000.00 248,000.00 100 241,307.97 0.11 8/11/202k Bristow OK 1.9 8/11 /2021-18 848608DB8 1,319 8/11/2021 8/11/2017 1.900 NR NR 248,000.00 248,000.00 100 245,103.61 0.11 Abacus Federal Savings Bank 1.95 7/21/2021 00257TAY2 1,298 7/21/2021 7/21/2017 1.950 NR NR 248,000.00 248,000.00 100 245,601.84 0.11 FNB Bank, Inc/Romney 1.85 7/19/2021 30257JAC9 1,296 7/19/2021 7/19/2017 1.850 NR NR 248,000.00 248,000.00 100 244,761.86 0.11 Central State Bank Iowa 1,85 7/14/2021 15523RBJ4 1,291 7/14/2021 7/14/2017 1.850 NR NR 248,000.00 248,000.00 100 244,783.69 0.11 Bankers Bank Madison WI 1,9 7/14/2021 06610RAQ2 1,291 7/14/2021 7/14/2017 1.900 NR NR 248,000.00 248,000.00 100 245,206.03 0.11 Citizens State Bank 1.85 6/30/2021 17670DAD6 1,277 6/30/2021 6/30/2017 1.850 NR NR 248,000.00 248,000.00 100 244,847.18 0.11 Texas Exchange Bank 1.95 6/30/2021-18 88241TBP4 1,277 6/30/2021 6/30/2017 1.950 NR NR 248,000.00 248,000.00 100 245,668.80 0.11 Marine Bank 1.85 6/29/2021 56817TAB7 1,276 6/29/2021 6/29/2017 1.850 NR NR 248,000.00 248,000.00 100 244,849.16 0.11 Page 10 of 19 Page 11 of 19 Days To Maturity Settlement YTM @ Credit Credit Face Cost Value + Accrued % of Description CUSIPmcker Maturity Date Date Cost Rating 1 Rating 2 Amount/Shares Interest Cost Price Market Value Portfolio NebraskaLand National Bank 1.85 639700FG6 1,275 6/28/2021 6/28/2017 1.850 NR NR 248,000.00 248,000.00 100 244,853,38 0.11 6/28/2021 Winter Hill Bank, FSB 1.8 6/28/2021 975875AK1 1,275 6/28/2021 6/26/2017 1.800 NR NR 248,000.00 248,000.00 100 244,436.24 0.11 The Business Bank of Saint Louis 1.8 6/23/2021 12325EHU9 1,270 6/23/2021 6/23/2017 1.800 NR NR 248,000.00 248,000.00 100 244,459.55 0.11 Ponce De Leon Federal Bank 1.9 5/26/2021 732333AG4 1,242 5/26/2021 5/26/2017 1.900 NR NR 248,000.00 248,000.00 100 245,399.47 0.11 Bank of the Pack 1.25 5/24/2021 06425BCK3 1,240 5/24/2021 8/24/2016 1.250 NR NR 248,000.00 248,000.00 100 240,124.51 0.11 Gold Coast Bank 1.9 5/10/2021 38058KDU7 1,226 5/10/2021 11/9/2017 1.900 NR NR 248,000.00 248,000.00 100 245,461.97 0.11 Triad Bank 1.85 4/12/2021 89579NBU6 1,198 4/12/2021 10/12/2017 1.850 NR NR 248,000.00 248,000.00 100 245,176.27 0.11 National Cooperative Bank 1.5 3/9/2021 635573AH1 1,164 3/9/2021 3/9/2016 1.500 NR NR 248,000.00 248,000.00 100 246,070.06 0.11 Apex Bank 1.25 2/17/2021 03753XAE0 1,144 2/17/2021 8/17/2016 1.250 NR NR 248,000.00 248,000.00 100 240,891.82 0,11 Luana Savings Bank 1.7 2/11/2021 54910321-2 1,138 2/11/2021 8/11/2017 1.700 NR NR 248,000.00 248,000.00 100 244,311.25 0.11 Lead Bank 1.7 2/9/2021 521680AE8 1,136 2/9/2021 8/9/2017 1.700 NR NR 248,000.00 248,000.00 100 244,310.01 0.11 First Farmers Bank &Trust Company 1.9 1/21!20 320165HW6 1,117 1/21/2021 7/21/2017 1.900 NR NR 248,000.00 248,000.00 100 245,875.14 0.11 First Federal Savings Bank 1.9 1/15/2021 32021YDA8 1,111 1/15/2021 11/15/2017 1.900 NR NR 248,000.00 248,000.00 100 245,889.27 0.11 Stone Bank 1.85 1/11/2021 86158RAM1 1,107 1/11/2021 10/11/2017 1.850 NR NR 248,000.00 248,000.00 100 245,539,59 0.11 First Bank Richmond 1.8 12/28/2020 319267GE4 1,093 12/28/2020 6/27/2017 1.800 NR NR 248,000.00 248,000.00 100 245,233.31 0.11 Morton Community Bank 1.7 12!16/2020 619165GW7 1,081 12/16/2020 12/16/2016 1.700 NR NR 248,000.00 248,000.00 100 244,590.99 0.11 Alma Bank 1.7 12/9/2020 020080BE6 1,074 12/9/2020 12/9/2016 1.700 NR NR 248,000.00 248,000.00 100 244,635.63 0.11 American National Bank -Fox Cities 1.75 11/23/2020 02771PNQ6 1,058 11/23/2020 5/23/2017 1.750 NR NR 248,000.00 248,000.00 100 245,085.50 0.11 Lakeside Bank 1.75 11/19/2020 51210SMS3 1,054 11/19/2020 5/19/2017 1.750 NR NR 248,000.00 248,000.00 100 245,109.31 0.11 Financial Federal Bank 1.7 9/30/2020 31749TAX5 1,004 9/30/2020 5/30/2017 1.700 NR NR 248,000.00 248,000.00 100 245,064.67 0.11 BMW Bank UT 2.25 8/21/2020 06580ACS1 964 8/21/2020 8/21/2015 2.250 NR NR 248,000.00 248,000.00 100 249,117.24 0.11 Capital One 2.3 8/12/2020 14042E5M8 955 8/12/2020 8/12/2015 2.300 NR NR 248,000.00 248,000.00 100 249,133.11 0.11 First Oklahoma Bank 1.7 7/27/2020 335857BE7 939 7/27/2020 7/26/2017 1.700 NR NR 248,000.00 248,000.00 100 245,434.94 0.11 Bank of Deerfield 1.15 7/27/2020 061785DP3 939 7/27/2020 8/26/2016 1.150 NR NR 248,000.00 248,000.00 100 242,012.29 0.11 Midsouth Bank Lafayette 1.85 7/13/2020-18 59805FAA7 925 7/13/2020 7/12/2017 1.850 NR NR 248,000,00 248,000.00 100 246,433.88 0.11 Chippewa Valley Bank 1.7 6/30/2020 169894AN2 912 6/30/2020 6/30/2017 1.700 NR NR 248,000.00 248,000.00 100 245,586.71 0.11 The Bank of Princeton 1.7 6/30/2020 064620AD1 912 6/30/2020 6/30/2017 1.700 NR NR 248,000.00 248,000.00 100 245,586.71 0.11 C020 y Cap Bank UT 2.15 6/29/229/20 20033ALD6 911 6/29/2020 6/29/2015 2.150 NR NR 248,000.00 248,000,00 100 248,005.95 0.11 Sturgis Bank & Trust Company 1.8 6/9/2020 864088DM8 891 6/9/2020 11/9/2017 1.800 NR NR 248,000.00 248,000.00 100 246,287.81 0.11 Summit Community Bank Inc 1.65 5/29/2020 86604XLT1 880 5/29/2020 5/31/2017 1.650 NR NR 248,000.00 248,000.00 100 245,459.98 0.11 Kennebec Savings Bank 1.65 5/29/2020 489265AU2 880 5/29/2020 5/30/2017 1.650 NR NR 248,000.00 248,000.00 100 245,459.98 0.11 Page 11 of 19 Description CUSIP/Ticker Days To Maturity Maturity Date Settlement Date YTM @ Credit Cost Rating 1 Credit Rating 2 Face Amount/Shares Oriental Bank 1.85 5/26/2020 68621KAY7 877 5/26/2020 5/24/2017 1.850 NR NR 248,000.00 Horloon State Bank 1.65 5/26/2020 440392FL7 877 5/26/2020 5/23/2017 1.650 NR NR 248,000.00 Commerce State Bank 1.65 5/22/2020 20070PJDO 873 5/22/2020 5/22/2017 1.650 NR NR 248,000.00 First Bank of Owasso 1.8 5/14/2020 31927LAMO 865 5/14/2020 11/14/2017 1,800 NR NR 248,000.00 Jefferson Bank and Trust Company 100 245,710.22 0.11 248,000.00 100 247,480.44 0.11 1.75 5/12/2020 472376AC6 863 5/12/2020 11/9/2017 1.750 NR NR 248,000.00 Northwest Bank(FKA Western 100 246,717.10 0.11 248,000.00 100 245,420.30 0.11 Capital Bank) 1.65 4/13 66736ABB4 834 4/13/2020 4/13/2017 1.650 NR NR 248,000.00 East Boston Savings Bank 1.7 4/13/2020 27113PBNO 834 4/13/2020 4/11/2017 1.700 NR NR 248,000.00 Mercantile Bank of Michigan 1.65 4/13/2020 58740XYW4 834 4/13/2020 4/11/2017 1.650 NR NR 248,000.00 MB Financial Bank 1.65 4/13/2020 56266CUYO 834 4/13/2020 4/13/2017 1.650 NR NR 248,000.00 Goldman Sachs Bank 1.95 100 248,769.05 0.11 248,000.00 100 248,831.30 0.11 3/11/2020 38148JMVO 801 3/11/2020 3/11/2015 1.950 NR NR 248,000.00 KeyBank National Association 1.7 100 247,255.50 0.11 248,000.00 100 247,868.56 0.11 3/9/2020 49306SXK7 799 3/9/2020 3/8/2017 1.700 NR NR 248,000.00 Beneficial Bank 1.3 3/9/2020 08173QBN5 799 3/9/2020 3/9/2016 1.300 NR NR 248,000.00 Wells Fargo Bank 1.8 3/2/2020 949763FA9 792 3/2/2020 3/1/2017 1.800 NR NR 248,000.00 Berkshire Bank 1.55 2/28/2020 084601GY3 789 2/28/2020 2/28/2017 1.550 NR NR 248,000.00 CrossFirst Bank 1.6 2/28/2020 22766AAX3 789 2/28/2020 2/28/2017 1.600 NR NR 248,000.00 First Western Bank 1.55 2/28/2020 33749VAK4 789 2/28/2020 2/28/2017 1.550 NR NR 248,000.00 Steams Bank 1.6 2/26/2020 857894TA7 787 2/26/2020 2/24/2017 1.600 NR NR 248,000.00 Belmont Savings Bank 1.55 2/24/2020 080515BT5 785 2/24/2020 2/24/2017 1.550 NR NR 248,000.00 Signature BK of Arkansas 1.15 2/18/2020 82669LGHO 779 2/18/2020 8/18/2016 1.150 NR NR 248,000.00 Springs Valley Bank & Trust Company 1.75 2/12/ 851791AR4 773 2/12/2020 10/12/2017 1,750 NR NR 248,000.00 Machias Savings Bank 1.65 2/6/2020 554479DS1 767 2/6/2020 2/6/2015 1.650 NR NR 248,000.00 Bank of Georgetown DC 1.65 1/30/2020 06424XBT8 760 1/30/2020 1/30/2015 1.650 NR NR 248,000.00 PrivateBank IL 1.8 1/30/2020 74267GUW5 760 1/30/2020 1/30/2015 1.800 NR NR 248,000.00 Peoples United Bank 1.85 1/21/2020 71270QLM6 751 1/21/2020 1/21/2015 1.850 NR NR 248,000.00 Douglas National Bank 1.65 1/21/2020 259744DS6 751 1/21/2020 7/19/2017 1.650 NR NR 248,000.00 GE Capital Bank 1.8 1/16/2020 36162PFS6 746 1/16/2020 1/16/2015 1.800 NR NR 248,000.00 First Source Bank 1.75 12/30/2019 33646CFE9 729 12/30/2019 6/30/2015 1.750 NR NR 248,000.00 American Express 2.2 11/29/2019 02587DWKO 698 11/29/2019 11/28/2014 2.200 NR NR 248,000.00 Bank of Hope 1.7 11/26/2019 062683AJ6 695 11/26/2019 5/26/2017 1.700 NR NR 248,000.00 Washington Trust Company 1.65 11/25/2019 940637JAO 694 11/25/2019 5/24/2017 1.650 NR NR 248,000.00 Kearny Federal Savings Bank 1.7 11/15/2019 487141AE9 684 11/15/2019 11/15/2017 1.700 NR NR 248,000.00 Page 12 of 19 Cost Value + Accrued % of Interest Cost Price Market Value Portfolio 248,000.00 100 246,646.17 0.11 248,000.00 100 245,485.78 0.11 248,000.00 100 245,498.92 0.11 '248,000.00 100 246,405.36 0.11 248,000.00 100 246,127.85 0.11 248,000.00 100 245,710.22 0.11 248,000.00 100 245,987.73 0.11 248,000.00 100 245,717.41 0.11 248,000.00 100 245,710.22 0.11 248,000.00 100 247,480.44 0.11 248,000.00 100 246,163.31 0,11 248,000.00 100 247,001.55 0.11 248,000.00 100 246,717.10 0.11 248,000.00 100 245,420.30 0.11 248,000.00 100 245,679.96 0.11 248,000.00 100 245,417.33 0.11 248,000.00 100 245,690.62 0.11 248,000.00 100 245,440.14 0.11 248,000.00 100 243,502.27 0.11 248,000.00 100 246,537.05 0.11 248,000.00 100 248,814.93 0.11 248,000.00 100 248,821.62 0.11 248,000.00 100 248,769.05 0.11 248,000.00 100 248,831.30 0.11 248,000.00 100 246,127.35 0.11 248,000.00 100 248,838.24 0.11 248,000.00 100 247,255.50 0.11 248,000.00 100 247,868.56 0.11 248,000.00 100 246,661.79 0.11 248,000.00 100 246,440.08 0.11 248,000.00 100 246,724.04 0.11 Citizens National Bank of Bluffton 175144DD3 507 5/22/2019 5/22/2017 1.550 NR NR 248,000.00 248,000.00 100 246,990.89 0.11 1.55 5/22/2019 HSBC Bank Var. Negotiable CD 40434AJV2 480 4/25/2019 4/29/2014 1.564 NR NR 248,000.00 248,000.00 100 245,296.80 0.11 4/25/2019 First Bank MS 1.5 2/28/2019 319234AJ9 424 2/28/2019 6/30/2015 1.500 NR NR 248,000.00 248,000.00 100 247,619.32 0.11 First South Bank NC 1.45 2/28/2019 33650QAH9 424 2/28/2019 8/28/2015 1.450 NR NR 248,000.00 248,000.00 100 247,049,17 0.11 First Service Bank 112/19/2019 33640VBQO 415 2/19/2019 8/17/2016 1.000 NR NR 248,000.00 248,000.00 100 245,828.02 0.11 Farm Bureau Bank 12/19/2019 307660KJ8 415 2/19/2019 8/17/2016 1.000 NR NR 248,000.00 248,000.00 100 245,911.59 0.11 Metro City Bank GA 1 1/17/2019 59161TAJ6 382 1/17/2019 8/17/2016 1.000 NR NR 248,000.00 248,000.00 100 246,111.48 0.11 795450RA5 303 10/30/2018 10/30/2013 2.150 NR NR 248,000.00 248,000.00 100 249,039.12 0.11 Page 13 of 19 Days To Maturity Settlement YTM @ Credit Credit Face Cost Value + Accrued % of Description CUSIPTcker Maturity Date Date Cost Rating 1 Rating 2 Amount/Shares Interest Cost Price Market Value Portfolio Capital One 2 11/5/2019 140420QN3 674 11/5/2019 11/5/2014 2.000 NR NR 248,000.00 248,000.00 100 248,527.74 0.11 City Bank UT 2.15 11/5/2019 17284C2R4 674 11/5/2019 11/5/2014 2.150 NR NR 248,000.00 248,000.00 100 248,796.33 0.11 Merrick Bank UT 1,55 10/9/2019 59013JKA6 647 10/9/2019 10/9/2015 1.550 NR NR 249,000.00 249,000.00 100 249,343.12 0.11 Security State Bank 1,5 10!7/2019 81489TAV8 645 10/7/2019 4!7/2017 1.500 NR NR 246,000.00 248,000.00 100 246,054.44 0.11 Buckeye Community Bank 1.4 9/6/2019 11815SCW8 614 9/6/2019 3/6/2017 1.400 NR NR 248,000.00 248,000.00 100 245,831.98 0.11 LCA Bank Corporation 1.45 9/3/2019 501798KG6 611 9/3/2019 3/2/2017 1.450 NR NR 248,000.00 248,000.00 100 246,065.60 0.11 Landmark Community Bank 1.45 9/3/2019 51507LBG8 611 9/3/2019 3/3/2017 1.450 NR NR 248,000.00 248,000.00 100 246,056.67 0.11 Evegreen Bank Group 1.5 8/28/2 8/28/2019 300185FJ9 605 8/28/2019 2/28/2017 1.500 NR NR 248,000.00 248,000.00 100 246,294.26 0.11 Franklin Synergy Bank 1.5 8/23/2019 35471TDH2 600 8/23/2019 5/24/2017 1,500 NR NR 248,000.00 248,000.00 100 246,320.54 0.11 Medallion Bank UT 1.2 8/19/2019 58403134W3 596 8/19/2019 8/19/2016 1.200 NR NR 248,000.00 248,000.00 100 244,674.57 0.11 Morgan Stanley Bank 17 8/19/2019 61760ACZO 596 8/19/2019 8/17/2017 1.700 NR NR 248,000.00 248,000.00 100 247,147.62 0.11 Morgan Stanley Private Bank 1.7 8/19/2019 61747MYE5 596 8/19/2019 8/17/2017 1.700 NR NR 248,000.00 248,000.00 100 247,147.62 0.11 FNB of Mcgregor TX 1.1 8/19/2019 32112UCD1 596 8/19/2019 8/18/2016 1.100 NR NR 248,000.00 248,000.00 100 244,744.75 0.11 Investors Bank WI 1.7 8/14/2019 46147UQR4 591 8/14/2019 8/14/2015 1.700 NR NR 248,000.00 248,000.00 100 248,681.26 0.11 Bank of Lexington, Inc 1,6 8/9/2019 063253BG2 586 8/9/2019 8/9/2017 1.600. NR NR 248,000.00 248,000.00 100 246,797.70 0.11 Connectone Bank 1.55 7/29/2019 20786ABA2 575 7/29/2019 1/28/2015 1.550 NR NR 248,000.00 248,000.00 100 248,712.01 0.11 Bridgewater Bank MN 1.55 7/26/2019 108622EE7 572 7/26/2019 1/27/2015 1.550 NR NR 248,000.00 248,000.00 100 246,672.46 0.11 SmartBank 1.4 7/19/2019 83172HDJ6 565 7/19/2019 4/19/2017 1.400 NR NR 248,000.00 248,000.00 100 246,138.02 0.11 American Express 1.95 7/10/2019 02587CAC4 556 7/10/2019 7/10/2014 1.950 NR NR 248,000.00 248,000.00 100 248,104.41 0.11 Discover Bank 2 7/9/2019 2546712E9 555 7/9/2019 7/9/2014 2.000 NR NR 248,000.00 248,000.00 100 248,402.50 0.11 Kansas State Bank of Manhattan 1,55 5/31/2019 50116CAZ2 516 5/31/2019 5/31/2017 1.550 NR NR 248,000.00 248,000.00 100 246,949.22 0.11 Synchrony Bank UT (GE) 2 5/30/2019 3616OKL60 515 , 5/30/2019 5/30/2014 2.000 NR NR 248,000.00 248,000.00 100 248,550.31 0.11 First Capital Bank VA 1.5 5/28/2019 31944FBH2 513 5/28/2019 1/28/2015 1.500 NR NR 248,000,00 248,000.00 100 248,626.70 0.11 First Business Bank WI 1.45 5/28/2019 31938QL69 513 5/28/2019 5/28/2015 1.450 NR NR 248,000.00 248,000.00 100 246,618.64 0.11 North American Savings Bank 1.6 5/24/2019 657156EL5 509 5/24/2019 5/24/2017 1.600 NR NR 248,000.00 248,000.00 100 247,151.34 0.11 Citizens National Bank of Bluffton 175144DD3 507 5/22/2019 5/22/2017 1.550 NR NR 248,000.00 248,000.00 100 246,990.89 0.11 1.55 5/22/2019 HSBC Bank Var. Negotiable CD 40434AJV2 480 4/25/2019 4/29/2014 1.564 NR NR 248,000.00 248,000.00 100 245,296.80 0.11 4/25/2019 First Bank MS 1.5 2/28/2019 319234AJ9 424 2/28/2019 6/30/2015 1.500 NR NR 248,000.00 248,000.00 100 247,619.32 0.11 First South Bank NC 1.45 2/28/2019 33650QAH9 424 2/28/2019 8/28/2015 1.450 NR NR 248,000.00 248,000.00 100 247,049,17 0.11 First Service Bank 112/19/2019 33640VBQO 415 2/19/2019 8/17/2016 1.000 NR NR 248,000.00 248,000.00 100 245,828.02 0.11 Farm Bureau Bank 12/19/2019 307660KJ8 415 2/19/2019 8/17/2016 1.000 NR NR 248,000.00 248,000.00 100 245,911.59 0.11 Metro City Bank GA 1 1/17/2019 59161TAJ6 382 1/17/2019 8/17/2016 1.000 NR NR 248,000.00 248,000.00 100 246,111.48 0.11 795450RA5 303 10/30/2018 10/30/2013 2.150 NR NR 248,000.00 248,000.00 100 249,039.12 0.11 Page 13 of 19 Page 14 of 19 Days To Maturity Settlement YTM @ Credit Credit Face Cost Value + Accrued % of Description CUSIP/Ticker Maturity Date Data Cost Rating 1 Rating 2 Amount/Shares Interest Cost Price Market Value Portfolio Sallie Mae Bank UT 2.15 10/30/2018 Bank North Carolina NC 1.2 10/16/2018 06414QWZ8 289 10/16/2018 10/16/2015 1.200 NR NR 249,000.00 249,000.00 100 249,173.80 0.11 Ally Bank UT 1.6 10/15/2018 02006LUSO 288 10/15/2018 10/15/2015 1.600 NR NR 248,000.00 248,000.00 100 248,133.67 0.11 Everbank Jacksonville FL 9.45 8/14/2018 29976DZX1 226 8/14/2018 8/14/2015 1.450 NR NR 248,000.00 248,000.00 100 247,830.86 0.11 Third Federal Savings 1.25 8/13/2018 884130AZ1 225 8/13/2018 2/13/2015 1.250 NR NR 248,000.00 248,000.00 100 248,250.48 0.11 Marlin Business Bank UT 1.45 6/25/2018 57116AJE9 176 6/25/2018 12/23/2014 1.450 NR NR 248,000.00 248,000.00 100 247,915.68 0.11 Compass Bank AL 1.25 5/21/2018 20451PKX3 141 5/21/2018 5/20/2015 1.250 NR NR 248,000.00 248,000.00 100 247,786.72 0.11 Middleton Community Bank WI 1.25 2/9/2018 596689EA3 40 2/9/2018 7/9/2014 1.250 NR NR 248,000.00 248,000.00 100 247,997.27 0.11 Traditions Bank AL 1.2 1/18/2018 89269CBJ0 18 1/18/2018 7/18/2014 1.200 NR NR 248,000.00 248,000.00 100 247,994.05 0.11 Sub Total / Average 971 1.738 36,207,000.00 36,205,114.83 99.993514 35,895,076.17 16.52 VISA Inc 2.15 9/15/2022 92826CAG7 1,719 9/15/2022 10/3/2017 2.101 Moodys-A1 S&P -A+ 1,000,000.00 1,003,615.32 100.230143 986,096.00 0.46 Toyota Motor Credit Corp 2.15 9/8/2022 89236TEC5 1,712 9/8/2022 11/1/2017 2.301 Moodys-Aa3 S&P -AA- 2,500,000.00 2,490,663.19 99.31 2,460,150.00 1.13 IBM Credit LLC 2.2 9/8/2022 44932HAC7 1,712 9/8/2022 10/3/2017 2.301 Moodys-A1 S&P -A+ 1,000,000.00 996,827.78 99.53 979,282.00 0.45 BBarclays Bank PLC Step 8/25/2022- 06744CFN6 1,698 8/25/2022 8/25/2017 2.440 Moodys-A1 S&P -A- 2,000,000.00 2,000,000.00 100 1,935,972.00 0.91 Apple Inc 2.3 5/11/2022 037833CQ1 1,592 5/11/2022 6/26/2017 2.133 Moodys-Aa1 S&P -AA+ 2,000,000.00 2,021,152.64 100.770127 1,986,016.00 0,92 Chevron Corp 2.498 3/3/2022 166764BN9 1,523 3/3/2022 8/10/2017 2.101 Moodys-Aa2 S&P -AA- 2,000,000.00 2,056,188.11 101.72 2,002,616.00 0.93 Toyota Motor Credit Crop 2.6 1/11/2022 89236TDP7 1,472 1/11/2022 7/13/2017 2.200 Moodys-Aa3 S&P -AA- 1,000,000.00 1,017,172.28 101.702784 1,005,372.00 0.46 Apple Inc 2.25 2/23/2021-21 037833BS8 1,150 2/23/2021 12/2/2016 2.125 Moodys-Aa1 S&P -AA+ 2,000,000.00 2,022,375.00 100.5 1,997,660.00 0.92 Microsoft 211/3/2020-20 594918BG8 1,038 11/3/2020 11/6/2015 1.929 Moodys-Aaa S&P -AAA 1,000,000.00 1,003,546.67 100.338 996,107.00 0.46 COCO-COLA CO 1.87510/27/2020 191216BT6 1,031 10/27/2020 7/13/2017 1.875 Moodys-Aa3 S&P -AA- 1,000,000.00 1,003,958,33 100 994,831.00 0.46 Barclays Bank PLC 2 5/31/2019-18 06741VUW0 616 5/31/2019 5/31/2017 2.000 Moodys-A1 S&P -A- 1,000,000.00 1,000,000.00 100 990,563.00 0.46 Microsoft Corp 1.62512/6/2018 594918AV6 340 12/6/2018 5/27/2015 1.148 Moodys-Aaa S&P -AAA 1,000,000.00 1,024,138.75 101.642 998,097.00 0.46 Johnson & Johnson Note 1.65 12/5/2018 478160BG8 339 12/5/2018 8/17/2015 1.271 Moodys-Aaa S&P -AAA 2,000,000.00 2,031,000.00 101.22 1,995,556.00 0.92 Wal-Mart Stores Inc 1. 126 4/11/2018 931142DF7 101 4/11/2018 11/28/2014 1.346 Moodys-Aa2 S&P -AA 1,000,000.00 994,208.75 99.274 999,750.00 0.45 Deere John 1.3 3/12/2018 24422ESB6 71 3/12/2018 2/9/2015 1.166 Moodys-A2 S&P -A 2,125,000.00 2,144,865.21 100.404 2,123,272.38 0.97 Sub Total / Average 1,103 1.911 22,625,000.00 22,809,711.93 100.460097 22,451,340.38 10.37 MunicipalSecurities 15°h 15•A ._..__-.___._...�.._ �_.. _.....___..w_.-.�_.._�_.___�.. _.______.___ .�____ _.._____.� __a__._____..�_..__.._.. _ __..__.__...___ _, w.w �._..._.-_..._...____.._.__ _____ � __._.._.W..._...__._-__ .®._._._ _._.�. __.._.._,._. _ _ .._.___.. �..__ _._„_, Murrieta Redevelopment Agency 2.5 8/1/2022 62719PAY2 1,674 8/1/2022 10/18/2017 2.559 S&P -A NR 250,000.00 249,345.00 99.738 246,977.50 0.11 Santa Rosa CA REGL Resources Rev 2,4 8/1/2022 802629AX3 1,674 8/1/2022 10/3/2017 2.202 S&P -AA+ Fitch -AA 500,000.00 505,800.00 100.9 495,855.00 0.23 California ST 2.367 4/1/2022 13063DADO 1,552 4/1/2022 4/27/2017 2.152 Moodys Aa3 S&P -AA- 1,000,000.00 1,010,000.00 101 996,840.00 0.46 45656RDV1 1,462 1/1/2022 5/17/2017 2.451 Moodys-A1 S&P -AA- 1,000,000,00 1,014,604.17 101.3 993,760.00 0.46 Page 14 of 19 Page 15 of 19 Days To Maturity Settlement YTM @ Credit Credit Face Cost Value + Accrued % of Description CUSIP/Ticker Maturity Date Date Cost Rating 1 Rating 2 Amount/Shares Interest Cost Price Market Value Portfolio Industry Calif Sales Tax Rev 2.75 1/1/2022 Murrieta Redevelopment Agency 2.25 8/1/2021 62719PAX4 1,309 8/1/2021 10/18/2017 2.319 S&P-A None 350,000,00 349,135.50 99.753 345,989.00 0.16 Santa Rosa CA REGL Resource Rev 2.2 8/1/2021 802629AW5 1,309 8/1/2021 10/3/2017 2.001 S&P-AA+ Fitch-AA 980,000.00 989,489.67 100.73 971,415.20 0.45 California ST 2.625 4/1/2021 13063DAC2 1,187 4/1/2021 4/27/2017 2.003 Moodys-Aa3 S&P-AA- 1,000,000.00 1,023,400.00 102.34 1,009,510.00 0.47 California ST 1.8 4/1/2020 13063CSQ4 822 4/1/2020 4/29/2015 1.700 Moodys-Aa3 S&P-AA- 2,000,000.00 2,009,380.00 100.469 1,985,620.00 0.92 Fresno County Pension 2.488 8/15/2019 368266CQ5 592 8/15/2019 9/8/2015 2.288 NR S&P-AA- 1,000,000.00 1,007,845.56 100.75 999,130.00 0.46 Murrieta Redevelopment Agency 1.8 8/1/2019 62719PAV8 578 8/1/2019 10/18/2017 1.802 S&P-A NR 350,000.00 349,989.50 99.997 347,949.00 0.16 Sub Total / Average 1,144 2.069 8,430,000.00 8,608,989.40 100.875148 8,393,046.70 3.88 US Agency Bonda I Notes 76•/. �����___M__._�x._.__.._...d, FHLMC 2.4 11/28/2022-18 3134GBY63 1,793 11/28/2022 11/28/2017 2.400 Moodys-Aaa S&P-AA+ 3,000,000.00 3,000,000.00 100 2,972,523.00 1.37 FNMA 2.25 10/27/2022-18 3136G4PV9 1,761 10/27/2022 10/27/2017 2.250 Moodys-Aaa None 2,000,000.00 2,000,000.00 100 1,980,984,00 0.91 FHLB Step 10/18/2022-18 3130ACGM 1,752 10/18/2022 10/18/2017 2.144 Moodys-Aaa S&P-AA+ 1,500,000.00 1,500,000.00 100 1,488,201.00 0.68 FHLMC 2.05 9/29/2022-17 3134GBH39 1,733 9/29/2022 10/31/2017 2.163 Moodys-Aaa S&P-AA+ 2,000,000.00 1,993,144.44 99.475 1,980,700.00 0.91 FHLB Step 8/24/2022-17 3130ABZW9 1,697 8/24/2022 8/24/2017 2.071 Moodys-Aaa S&P-AA+ 1,000,000.00 1,000,000.00 100 986,913.00 0.46 FHLMC Step 8/22/2022-17 3134GBB27 1,695 8/22/2022 8/22/2017 2.144 S&P-AA+ Fitch-AAA 2,000,000.00 2,000,000.00 100 1,981,208.00 0.91 FHLMC 27/27/2022-18 3134GBWQ1 1,669 7/27/2022 7/27/2017 2.042 Moodys-Aaa S&P-AA+ 2,000,000.00 1,996,000.00 99.8 1,969,446.00 0.91 FHLMC 2.25 7/26/2022-18 3134GBYP1 1,668 7/26/2022 7/26/2017 2.250 Moodys-Aaa S&P-AA+ 2,000,000.00 2,000,000.00 100 2,001,202.00 0.91 FHLMC 27/19/2022-17 3134GBVF6 1,661 7/19/2022 7/19/2017 2.000 Moodys-Aaa S&P-AA+ 2,000,000.00 2,000,000.00 100 1,982,530.00 0.91 FHLMC Step 7/5/2022-17 3134GBYK2 1,647 7/5/2022 7/11/2017 2.048 Moodys-Aaa S&P-AA+ 1,000,000.00 1,000,333.33 100 992,206.00 0.46 FHLMC 2.16/29/2022-17 3134GBTL6 1,641 6/29/2022 6/29/2017 2.100 Moodys-Aaa S&P-AA+ 2,000,000.00 2,000,000.00 100 1,968,578.00 0.91 FHLMC 2.05 5/25/2022-18 3134GBMB5 1,606 5/25/2022 5/25/2017 2.050 Moodys-Aaa S&P-AA+ 1,000,000.00 1,000,000.00 100 987,176.00 0.46 FHLB 2.15/18/2022-18 . 3130ABCS3 1,599 5/18/2022 5/18/2017 2.100 Moodys-Aaa S&P-AA+ 2,000,000.00 2,000,000.00 100 1,967,342.00 0.91 F HLB 2.08 4/27/2022-18 3130AB6Q4 1,578 4/27/2022 4/27/2017 2.080 Moodys-Aaa S&P-AA+ 1,500,000.00 1,500,000.00 100 1,480,098.00 0.68 FHLB 2.14/26/2022-19 3130AB31.18 1,577 4/26/2022 4/26/2017 2.100 S&P-AA+ NR 4,000,000,00 4,000,000.00 100 3,953,040.00 1.83 FFCB 2 4/5/2022-17 3133EHQG1 1,556 4/5/2022 7/11/2017 2.078 Moodys-Aaa S&P-AA+ 1,000,000.00 996,833.33 99.65 987,474.00 0.45 FFCB 1.95 3/14/2022-17 3133EHYQO 1,534 3/14/2022 11/1/2017 2.082 Moodys-Aaa S&P-AA+ 2,000,000.00 1,994,091.67 99.45 1,971,218.00 0.91 FFCB 2 3/14/2022-17 3133EHMH3 1,534 3/14/2022 6/22/2017 2.023 Moodys-Aaa S&P-AA+ 2,000,000.00 1,998,888.89 99.9 1,968,506.00 0.91 FHLMC 2.05 12/30/2021-17 3134GAZR8 1,460 12/30/2021 12/30/2016 2.050 Moodys-Aaa S&P-AA+ 2,000,000.00 2,000,000.00 100 1,966,692.00 0.91 FHLMC 2 7/27/2021-17 3134GBXA5 1,304 7/27/2021 7/27/2017 2.000 Moodys-Aaa S&P-AA+ 1,000,000,00 1,000,000.00 100 989,524.00 0.46 FNMA 1.45/25/2021-17 3136G31.194 1,241 5/25/2021 8/25/2016 1.400 Moodys-Aaa S&P-AA+ 1,850,000.00 1,850,000.00 100 1,808,241.80 0.84 FFCB 1.934/20/2021-18 3133EHGG2 1,206 4/20/2021 4/20/2017 1.930 Moodys-Aaa S&P-AA+ 1,500,000.00 1,500,000.00 100 1,474,777.50 0.68 FFCB 2 4/5/2021-18 3133EHEG4 1,191 4/5/2021 4/5/2017 2.000 Moodys-Aaa S&P-AA+ 3,500,000,00 3,500,000.00 100 3,493,644.00 1.60 FHLMC Step 3/30/2021-16 3134G8NV7 1,185 3/30/2021 3/30/2016 2.118 Moodys-Aaa S&P-AA+ 1,500,000.00 1,500,000.00 100 1,486,422.00 0.68 FHLMC Step 3/23/2021-16 3134G8NQ8 1,178 3/23/2021 4/4/2016 2.169 Moodys-Aaa S&P-AA+ 1,050,000.00 1,050,401.04 100 1,039,788.75 0.48 FNMA Step 3/15/2021-17 3136G3AY1 1,170 3/15/2021 3/15/2016 2.004 Moodys-Aaa S&P-AA+ 2,000,000.00 2,000,000.00 100 2,000,402.D0 0.91 FHLB 1.375 2/18/2021 3130A7CV5 1,145 2/18/2021 4/4/2016 1.328 Moodys-Aaa S&P-AA+ 1,000,000.00 1,003,956.94 100.22 977,631.00 0.46 FFCB 1.91 1/20/2021-17 3133EHGHO 1,116 1/20/2021 4/20/2017 1.910 Moodys-Aaa S&P-AA+ 1,500,000.00 1,500,000.00 100 1,491,009.00 0.68 Page 15 of 19 Total I Average 727 1.570 219,060,866.31 Page 16 of 19 219,316,264.01 100.044884 217,778,101.11 100 Days To Maturity Settlement YTM @ Credit Credit Face Cost Value + Accrued % of Description CUSIP/Ticker Maturity Date Date Cost Rating 1 Rating 2 Amount/Shares Interest Cost Price Market Value Portfolio FFCB 1.77 12/1/2020-17 3133EGR49 1,072 12/7/2020 12/7/2016 1.770 Moodys-Aaa S&P -AA+ 2,000,000.00 2,000,000.00 100 1,981,966.00 0.91 FFCB 1.38 3/2/2020-17 3133EFH59 792 3/2/2020 3/2/2016 1.380 Moodys-Aaa S&P -AA+ 2,000,000.00 2,000,000.00 100 1,971,316.00 0.91 FNMA 1.65 1/27/2020-17 3135GOS46 757 1/27/2020 2/21/2017 1.650 Moodys-Aaa S&P -AA+ 2,000,000.00 2,002,200.00 100 1,983,864.00 0.91 FNMA 1.1 8/23/2019-17 3136G32A2 600 8/23/2019 8/30/2016 1.100 Moodys-Aaa S&P -AA+ 5,000,000.00 5,000,000.00 100 4,935,450.00 2.28 FHLMC 1.2 5/16/2019-17 3134G9DKO 501 5/16/2019 5/16/2016 - 1.200 Moodys-Aaa S&P -AA+ 1,000,000.00 1,000,000.00 100 991,098.00 0.46 FHLB 1.125 9/14/2018 313OA6AE7 257 9/14/2018 9/18/2015 1.179 Moodys-Aaa S&P -AA+ 2,000,000.00 1,999,362.50 99.84 1,991,538.00 0.91 FHLMC 1 5/23/2018-16 3134G74Z1 143 5/23/2018 11/23/2015 1.172 Moodys-Aaa S&P -AA+ 1,000,000.00 995,780.00 99.578 997,842.00 0.45 FFCB 15/21/2018 3133EEM98 141 5/21/2018 5/21/2015 1.010 Moodys-Aaa S&P -AA+ 1,000,000.00 999,700.00 99.97 998,177.00 0.46 FHLMC 0.875 3/7/2018 3137EADPI 66 3/7/2018 2/22/2017 0.875 Moodys-Aaa S&P -AA+ 5,000,000.00 5,020,052.08 100 4,995,675.00 2.28 FNMA 1.052/27/2018 3136G1DG1 58 2/27/2018 7/1/2014 1.232 Moodys-Aaa S&P -AA+ 2,000,000.00 1,994,233.33 99.35 1,998,984.00 0.91 FFCB 1.112120/2018 3133EEQM5 51 2/20/2018 2/20/2015 1.110 Moodys-Aaa S&P -AA+ 2,000,000.00 2,000,000.00 100 1,999,462.00 0.91 Sub Total / Average 1,146 1.774 75,900,000.00 75,894,977.55 99.935044 75,192,849.05 34.61 US Treasury Securites 0% T -Note 1.25 12/15/2018 912828N22 349 12/15/2018 12/22/2015 1.261 Moodys-Aaa S&P -AA+ 1,000,000.00 999,926.57 99.96875 994,766.00 0.46 T -Note 0.875 10/15/2018 9128281-81 288 10/15/2018 11/4/2015 1.075 Moodys-Aaa S&P -AA+ 1,000,000.00 994,696.89 99.421875 993,516.00 0.45 T -Note 0.875 7/15/2018 912828XK1 196 7/15/2018 8/28/2015 0.963 Moodys-Aaa S&P -AA+ 5,000,000.00 4,992,730.98 99.75 4,982,030.00 2.28 T -Note 1 5/31/2018 912828VE7 151 5/31/2018 4/29/2015 0.915 Moodys-Aaa S&P -AA+ 2,500,000.00 2,516,747.50 100.257812 2,494,922.50 1.14 T -Note 0.76 3/31/2018 912828UU2 90 3/31/2018 2/22/2017 0.878 Moodys-Aaa S&P -AA+ 5,000,000.00 5,007,938.19 99.86 4,992,255.00 2.28 T -Note 0.875 1/31/2018 912828UJ7 31 1/31/2018 11/25/2014 1.035 Moodys-Aaa S&P -AA+ 2,000,000.00 1,995,563.86 99.5 1,999,434.00 0.91 Sub Total I Average 152 0.963 16,600,000.00 16,507,603.99 99.823887 16,456,923.50 7.52 Total I Average 727 1.570 219,060,866.31 Page 16 of 19 219,316,264.01 100.044884 217,778,101.11 100 City of Tustin Monthly Investment Transactions Group By: Action Portfolio / Report Group: All Portfolios Begin Date: 9/30/2017, End Date: 12/31/2017 Page 17 of 19 YTM @ Trade Settlement, Maturity Face Description CUSIP/Ticker Portfolio Name Cost Date Date Date Amount/Shares Principal Price Interest/Dividends Total BUY Santa Rosa CA REGL Resources Rev 2.4 8/1/2022 802629AX3 Fixed Income -Municipal Securities 2,202 9/29/2017 10/3/2017 8/1/2022 500,000.00 504,500.00 100.9 1,300.00 505,800.00 Santa Rosa CA REGL Resource Rev 2,2 8/1/2021 802629AW5 Fixed Income -Municipal Securities 2,001 9/29/2017 10/3/2017 8/1/2021 980,000.00 987,154.00 100.73 2,335.67 989,489.67 VISA Inc 2.15 9/15/2022 92826CAG7 Fixed Income - Corporate Bonds 2.101 9/29/2017 10/3/2017 9/15/2022 1,000,000.00 1,002,301.43 100.230143 1,313.89 1,003,615.32 IBM Credit LLC 2.2 9/8/2022 44932HAC7 Fixed Income - Corporate Bonds 2.301 9/29/2017 10/3/2017 9/8/2022 1,000,000.00 995,300.00 99.53 1,527.78 996,827.78 Stone Bank 1.85 1111/2021 86158RAM1 Fixed Income Certificate of Deposit Negotiable 1.850 9/29/2017 10/11/2017 1/11/2021 248,000.00 248,000.00 100 0.00 248,000.00 United Community Bank 2.05 4/12/2022-18 90983WBNO Fixed Income - Certificate of Deposit Negotiable 2,050 9/29/2017 10/12/2017 4/12/2022 248,000.00 248,000.00 100 0.00 248,000.00 Triad Bank 1.85 4/12/2021 89579NBU6 Fixed Income - Certificate of Deposit Negotiable 1,850 9/29/2017 10/12/2017 4/12/2021 248,000.00 248,000.00 100 0.00 248,000.00 Springs Valley Bank &Trust Company 1.75 2/12/ 851791AR4Fixed Income Certificate of Dego Deposit Negotiable 1.750 9/29/2017 10/12/2017 2/12/2020 248,000.00 248,000.00 100 0.00 248,000.00 Alliance Credit Union 2.25 10/13/2022 01859BAA3 Fixed Income - Certificate of Deposit Negotiable 2,250 9/29/2017 10/13/2017 10/13/2022 248,000.00 248,000.00 100 0.00 248,000.00 State Bank of Chilton 2 10/13/2021- 18 85641 PDQO Fixed Income - Certificate of Deposit Negotiable 2.000 9/29/2017 10/13/2017 10/13/2021 248,000.00 248,000.00 100 0.00 248,000.00 Uinta County State Bank 2.05 10/13/2021 903572CC7 Fixed Income Certificate of Deposit Negotiable 2,050 10/3/2017 10/13/2017 10/13/2021 247,000.00 247,000.00 100 0.00 247,000.00 FHLB Step 10/18/2022-18 3130ACGW8 Fixed Income - US Agency Bonds /Notes 2.144 10/3/2017 10/18/2017 10/18/2022 1,500,000.00 1,500,000.00 100 0.00 1,500,000.00 Murrieta Redevelopment Agency 2.25 8/1/2021 62719PAX4 Fixed Income- Municipal Securities 2.319 10/6/2017 10/18/2017 8/1/2021 350,000.00 349,135.50 99.753 0.00 349,135.50 Murrieta Redevelopment Agency 1.8 8/1/2019 62719PAV8 Fixed Income - Municipal Securities 1.802 10/6/2017 10/18/2017 8/1/2019 350,000.00 349,989.50 99.997 0.00 349,989.50 Murrieta Redevelopment Agency 2.5 8/1/2022 62719PAY2 Fixed Income -Municipal Securities 2.559 10/6/2017 10/18/2017 8/1/2022 250,000.00 249,345.00 99.738 0.00 249,345.00 International Bank of Chicago 2.1 4/20/2 4/20/2022-18 45906ABR7 Fixed Income Certificate of Deposit Negotiable 2.100 9/29/2017 10/20/2017 4/20/2022 248,000.00 248,000.00 100 0.00 248,000.00 FNMA 2.25 10/27/2022-18 3136G4PV9 Fixed Income - US Agency Bonds /Notes 2,250 9/29/2017 10/27/2017 10/27/2022 2,000,000,00 2,000,000.00 100 0.00 2,000,000.00 FHLMC 2.05 9/29/2022-17 3134GBH39 Fixed Income- US Agency Bonds /Notes 2,163 10/30/2017 10/31/2017 9/29/2022 2,000,000.00 1,989,500.00 99.475 3,644.44 1,993,144.44 FFCB 1.95 3/14/2022-17 3133EHYQO Fixed Income - US Agency Bonds / Notes 2,082 10/30/2017 11/1/2017 _ 3/14/2022 2,000,000.00 1,989,000.00 99.45 5,091.67 1,994,091.67 Northfield Bank 1.95 10/20/2021 66612ABV9 2.029 10/30/2017 11/1/2017 10/20/2021 248,000.00 247,256.00 99.7 158.99 247,414.99 Page 17 of 19 Page 18 of 19 YTM @ Trade Settlement Maturity Face Description CUSIP/Ticker Portfolio Name Cost Date Date Date Amount/Shares Principal Price Interest/Dividends Total Fixed Income - Certificate of Deposit Negotiable Toyota Motor Credit Corp 2.15 89236TEC5 Fixed Income - Corporate rporate Bonds 2.301 10/30/2017 11/1/2017 9/8/2022 2,500,000.00 2,482,750.00 99.31 7,913.19 2,490,663.19 Allegiance Bank 2.2 11/3/2022 01748DAY2 Fixed Income - Certificate of Deposit Negotiable 2,200 10/30/2017 11/3/2017 11/3/2022 248,000,00 248,000.00 100 0.00 248,000.00 The North Jackson Bank 2.05 5/9/2022 32063KAS1 Fixed Income Certificate of Deposit Negotiable 2.050 10/30/2017 11/8/2017 5/9/2022 248,000,00 248,000.00 100 0.00 248,000.00 First Bank of Highland Park 2.2 319141JF5 Fixed Income Certificate of 11/8/2022 Deposit Negotiable 2,200 10/30/2017 11/8/2017 11/8/2022 248,000.00 248,000.00 100 0.00 248,000.00 Signature Bank Chicago 2,15 1'1/8/2022 82669VBY6 Deposit Negotiable Fixed Income Certificate of 2,150 10/30/2017 11/8/2017 11/8/2022 248,000.00 248,000.00 100 0.00 248,000.00 Mountain America Credit Union 2.3 11/8/2022 62384RAGO Fixed Income - Certificate of Deposit Negotiable 2,300 10/30/2017 11/8/2017 11/8/2022 248,000.00 248,000.00 100 0.00 248,000.00 Jefferson Bank and Trust Company 1.75 5/12/2020 472376AC6 Fixed Income - Certificate of Deposit Negotiable 1.750 10!30/2017 11/9!2017 5/12/2020 248,000.00 248,000.00 100 0.00 248,000.00 Sturgis Bank &Trust Company 1.8 6/9/2020 864088DMB Fixed Income Certificate of Deposit Negotiable 1.800 10/30/2017 11/9/2017 6/9/2020 248,000.00 248,000.00 100 0.00 248,000.00 Gold Coast Bank 1.9 5/10/2021 38058KDU7 Fixed Income - Certificate of Deposit Negotiable 1.900 10/30/2017 11/9/2017 5/10/2021 248,000.00 248,000,00 100 0.00 248,000.00 First Bank of Owasso 1.8 5/14/2020 31927LAMO Fixed Income - Certificate of Deposit Negotiable 1.800 10/30/2017 11/14/2017 5/14/2020 248,000.00 248,000.00 100 0.00 248,000.00 Kearny Federal Savings Bank 1.7 11/15/2019 48714LAE9 Fixed Income - Certificate of Deposit Negotiable 1.700 10/30/2017 11/15/2017 11/15/2019 248,000.00 248,000.00 100 0.00 248,000.00 First Federal Savings Bank 1.9 1/16/2021 32021YDA8 Fixed Income Certificate of Deposit Negotiable 1.900 10/30/2017 11/15/2017 1/15/2021 248,000.00 248,000,00 100 0.00 248,000.00 FHLMC 2.4 11/28/2022-18 3134GBY63 Fixed Income - US Agency Bonds /Notes 2,400 10/30/2017 11/28/2017 11/28/2022 3,000,000.00 3,000,000.00 100 0.00 3,000,000.00 Sub Total / Average 22,389,000.00 22,357,231.43 23,285.63 22,380,517.06 CALLED BB&T 1.45 1/12/2018-17 05531FAM5 Fixed Income - Corporate Bonds 0.000 12/12/2017 12/12/2017 1/12/2018 1,000,000.00 999,980.00 0 6,041.67 1,006,021.67 Sub Total / Average 1,000,000.00 999,980.00 5,041.67 1,006,021.67 MATURED T -Note 0,75 10/31/2017 912828TW0 Fixed Income - Certificate of Deposit Negotiable 0.000 10/31/2017 10/31/2017 10/31/2017 3,000,000,00 3,000,000,00 0 0.00 3,000,000.00 California ST 1.25 11/1/2017 13063CPN4 Fixed Income - Certificate of Deposit Negotiable 0.000 11/1/2017 11/1/2017 11/1/2017 2,000,000,00 2,000,000.00 0 0.00 2,000,000.00 Wex Bank 1.05 11/20/2017 92937CDC9 Fixed Income - Certificate of Deposit Negotiable 0.000 11/20/2017 11/20/2017 11/20/2017 249,000.00 249,000.00 0 0,00 249,000.00 Investors Bank NJ 1 11/20/2017 46176PEF8 Fixed Income - Certificate of Deposit Negotiable 0.000 11/20/2017 11/20/2017 11/20/2017 248,000.00 248,000.00 0 0.00 248,000.00 T -Note 0.75 12/31/2017 912828UE8 Fixed Income- US Treasury 0.000 12/31/2017 12/31/2017 12/31/2017 1,000,000.00 1,000,000.00 0 0.00 1,000,000.00 Page 18 of 19 Page 19 of 19 YTM @ Trade Settlement Maturity Face Description CLISIP/Ticker Portfolio Name Cost Date Date Date Amount/Shares Principal Price Interest/Dividends Total Sub Total / Average 6,497,000.00 6,497,000.00 0.00 6,497,000.00 SELL American Honda Financial 2.15 3/13/2020 02666WAU5 Fixed Income Certificate of Deposit Negotiable 0.000 9/29/2017 10/3/2017 3/13/2020 1,000,000.00 1,003,500.00 0 1,194.44 1,004,694.44 Bank of Nova Scotia 2.3510/21/2020 064169GWO Fixed Income - Certificate of Deposit Negotiable 0,000 10/30/2017 11/1/2017 10/21/2020 1,500,000.00 1,505,700.00 0 979.17 1,506,679.17 Toyota Motor 2.125 7/18/2019 89236TBP9 Fixed Income Certificate of Deposit Negotiable 0.000 10/30/2017 11/1/2017 7/18/2019 1,000,000.00 1,004,310.00 0 6,079.86 1,010,389.86 Sub Total / Average 3,600,000.00 3,613,610.00 8,253.47 3,621,763.47 Page 19 of 19