HomeMy WebLinkAbout07_QUARTERLY_INVESTMENT_REPORT_FOR_THE_CITY_OF_TUSTIN_AND_THE_SUCCESSOR_AGENCYMEETING DATE: AUGUST 4, 2026
TO: ALDO E. SCHINDER, CITY MANAGER
FROM: JENNIFER KING, FINANCE DIRECTOR/CITY TREASURER
SUBJECT: QUARTERLY INVESTMENT REPORT FOR THE CITY OF TUSTIN AND THE
SUCCESSOR AGENCY FOR THE TUSTIN COMMUNITY REDEVELOPMENT
AGENCY FOR THE QUARTER ENDED JUNE 30, 2026
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:
That the City Council receive and file the report.
FISCAL IMPACT:
There is no fiscal impact to receive and file with this report.
CORRELATION TO THE STRATEGIC PLAN:
Correlates with the City’s Strategic Plan Goal C: Financial Strength, Item 3. This investment
report provides evidence of the City’s commitment to ensure that investments are in
compliance with the adopted investment policy.
BACKGROUND AND DISCUSSION:
In compliance with Government Code Section 53646, the attached Investment Report for
the City of Tustin and the Successor Agency for the Tustin Community Redevelopment
Agency for the quarter ended June 30, 2026 is rendered.
The City’s total cash and investments amounted to approximately $257 million as of June
30, 2026. The weighted average yield for the investment portfolio was 3.83%, same as the
prior quarter. The Federal Reserve voted again for no change to the Federal Funds Rate
at its June 2026 meeting, signaling restoring price stability as the central focus of its
Agenda Item _______
Reviewed:
City Manager _______
Finance Director _______
AGENDA REPORT
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City Council Agenda Report
Quarterly Investment Report for the City of Tustin and the Successor Agency for the
Tustin Community Redevelopment Agency for the Quarter Ended June 30, 2026
August 4, 2026
Page 2
monetary policy discussions. The most recent national unemployment rate from June
2026 dipped slightly to 4.2%, compared to 4.3% in May. However, the Consumer Price
Index (CPI) for May 2026 rose to 4.2% year-over-year, the fastest pace since 2023.
Energy prices continue to be the main driving force behind CPI increase.
The 2-year Treasury yield increased to 4.15% by June 2026, compared to a yield of
3.79% in March 2026. The 5-year Treasury yield also increased to 4.19% by June 2026,
compared to a yield of 3.94% in March 2026.
PARS Pension Trust
As part of the City’s pension pay-down plan, the City has made contributions totaling
$15.6 million to a Pension Trust held by Public Agency Retirement Services (PARS). A
Pension Trust provides rate stabilization since its assets can be used to offset
unanticipated increases in CalPERS pension costs. Pension Trust assets are managed
in a customized investment strategy that balances risks and return and provides for
diversification. The City’s Pension Trust assets amounted to $22 million on June 30,
2026. The five-year annualized return for the PARS Pension Trust Fund was 5.79%.
PARS OPEB Trust
The City has made $4.5 million in contributions into an Other Post-Employment
Benefits (OPEB) Trust, also held by PARS. The OPEB Trust contains funds that are set
aside for future retiree healthcare costs. Trust assets are managed in a customized
investment strategy that balances risk and return and provides for diversification. Assets
in the OPEB Trust amounted to $6.4 million on June 30, 2026. The five-year annualized
return for the PARS OPEB Trust Fund was 5.78%.
Investment Compliance Certification
On July 23, 2026, the Audit Commission reviewed the investment report and certified that
the portfolio is in compliance with the City’s Investment Policy and the California
Government Code. In addition, the Treasurer’s cash management program and cash
flow analysis indicates that sufficient liquidity is on hand to meet estimated
operating expenditures for the next six months and the projected cash flow needs for the
completion of various capital projects, which include, but not limited to traffic and street
improvements, water system improvements, park projects, improvements to public
facilities and capital projects at the Tustin Legacy.
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City Council Agenda Report
Quarterly Investment Report for the City of Tustin and the Successor Agency for the Tustin
Community Redevelopment Agency for the Quarter Ended June 30, 2026
August 4, 2026
Page 3
_____________________________
Jennifer King
Finance Director/City Treasurer
Attachments:
1.Investment Report Certification
2.Quarterly Investment Report for the Period Ended June 30, 2026
3.Restricted Deposits with Fiscal Agents as of June 30, 2026
4.PARS Trust Statement as of June 30, 2026
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INVESTMENT REPORT
City of Tustin | As of June 30, 2026
CHANDLER ASSET MANAGEMENT | chandlerasset.com
Chandler Team:
For questions about your account, please call (800) 317-4747,
or contact clientservice@chandlerasset.com
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.
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TABLE OF CONTENTS
ECONOMIC UPDATE
ACCOUNT PROFILE
PORTFOLIO HOLDINGS
TRANSACTIONS
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ECONOMIC UPDATE
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▪
▪
▪
Energy prices and inflation remained the primary drivers of the macro backdrop as the U.S.-Israel-Iran conflict entered its third month,
disrupting global oil supply. Headline CPI accelerated at the fastest pace in more than three years, reflecting volatility in the energy
component. Crude oil, however, retraced roughly 20%from its May–early June peak as diplomatic progress between the United States and
Iran pointed to a potential framework for de-escalation. The labor market remained resilient, with continued payroll growth and subdued
jobless claims. Risk assets held firm,as equities hovered near record highs and credit spreads remained historically tight amid broadly
better-than-expected corporate earnings. Taken together, the current market environment has further constrained the case for near-term
monetary policy easing, leading the Chandler team to push out its expected timing for rate cuts beyond the six-month investment horizon.
The Federal Reserve’s June FOMC meeting ended with policymakers unanimously holding the target range at 3.50%–3.75%,a notable shift
from the 8–4 split at April’s meeting, which marked Jerome Powell’s final session as Chair. Under new Chair Kevin Warsh, sworn in on May
22,the Committee released an unusually concise statement that referenced Middle East tensions and energy supply disruptions while
removing prior forward guidance that had suggested a bias toward rate cuts. Updated projections leaned more hawkish, with 9 of 18
officials expecting at least one rate hike this year and 6 anticipating multiple increases. The shift signals that restoring price stability has
reemerged as the central focus of monetary policy deliberations.
The Treasury yield curve flattened modestly in June as short-term yields responded to a more hawkish shift in Federal Reserve guidance.
The 2-year yield rose to 4.15% from 3.98% the prior month, while the 10-year yield edged down slightly to 4.44% from 4.45%.As a result,
the 2s/10s spread narrowed to 29 basis points, down from roughly 47 basis points a month earlier and significantly below the 69 basis
point spread at the start of the year. Meanwhile, the 3-month/10-year spread remained positive at 64 basis points. Front-end rates
absorbed the bulk of the Fed’s updated rate outlook, while longer maturities were partly anchored by a late-month decline in oil prices.
ECONOMIC UPDATE
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-400
-200
0
200
400
600
800
1,000
MOM Change In Thousands (000's)Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3-month average (000's)
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)Rate (%)Nonfarm payrolls increased by just 57,000 in June, well below the 113,000 consensus and marking a sharp slowdown from May’s pace. The
unemployment rate edged down to 4.2%, though the decline was driven by a drop in labor force participation to 61.5%, its lowest level
since March 2021.Revisions further weakened the report’s signal. April payrolls were revised down by 31,000 to 148,000, while May was
lowered by 43,000 to 129,000, resulting in a combined two-month downward revision of 74,000.
Source: US Department of Labor Source: US Department of Labor
EMPLOYMENT
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0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY %
Change
PCE Core Deflator YOY %
Change
Fed Target
YOY (%) Change0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YOY (%) ChangeInflation firmed in May, with the Personal Consumption Expenditures (PCE) price index rising 0.4%on the month and 4.1% year over year,
up from 3.8%in April and marking the highest annual rate of the current cycle. Core PCE, which excludes food and energy, increased 0.3%
in May and 3.4% over the year. Energy prices remained the primary driver of the headline acceleration, reflecting supply disruptions tied to
the Iranian conflict. A similar pattern was evident in the headline Consumer Price Index (CPI), which rose 0.5%on the month and 4.2% year
over year, the fastest annual pace since 2023.Energy prices climbed 3.9%in May and 23.5% from a year earlier, largely due to crude oil
reaching a four-year high.In contrast, core CPI rose a more modest 0.2%on the month and 2.9% year over year, indicating that inflation
pressures remain concentrated in energy rather than broad-based.
Source: US Department of Labor Source: US Department of Commerce
INFLATION
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Source: Federal Reserve Source: Bloomberg
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
Recession
In$ millionsThe Federal Open Market Committee (FOMC) held the target range for the federal funds rate at 3.50%to 3.75%at its June 16–17 meeting,
with a unanimous 12–0 vote. This marked a notable shift from the April meeting—Jerome Powell’s last as chair—which saw four dissents in
an 8–4 decision. The return to consensus under Chair Kevin Warsh signals a clear change in tone. Minutes from the June meeting are
scheduled for release in early July. The June Summary of Economic Projections reflected a more hawkish outlook. The median projection for
the federal funds rate at year-end 2026 rose to 3.8%,up from 3.4%in March, before easing to 3.6%in 2027 and 3.4%in 2028.Officials also
revised their inflation forecasts, with headline PCE projected at 3.6%in 2026 (from 2.7%) and core PCE at 3.3%.By contrast, median
projections for real GDP growth and the unemployment rate—2.2% and 4.3%, respectively—were little changed.
FEDERAL RESERVE
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Effective Federal Funds Rate
Recession
Yield (%)6
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Source: Bloomberg Source: Bloomberg
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
US Treasury Note Yields
2-Year
5-Year
10-YearYield (%)2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
US Treasury Yield Curve
Jun-26
Mar-26
Jun-25Yield (%)Treasury yields ended June mixed, with a modest flattening across the curve as markets digested a more hawkish Federal Reserve signal.
The 2-year yield rose to 4.15% from3.98%at the end of May, while the 10-year yield edged down to 4.44% from 4.45%. The 2s/10s spread
narrowed to 29 basis points, down from 47 basis points a month earlier. The 3-month/10-year spread remained positive at roughly 64 basis
points at month-end. Relative to the 69 basis point spread at the start of 2026,the curve has flattened materially year to date, reflecting a
repricing higher in front-end rates as expectations shift toward the possibility of further Fed tightening rather than easing.
BOND YIELDS
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ACCOUNT PROFILE
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OBJECTIVES
Investment Objectives
The investment objectives of the City of Tustin are first, to provide safety of principal to
ensure the preservation of capital in the overall portfolio; second, to provide adequate
liquidity to meet all requirements which might be reasonably anticipated; and third, to earn a
commensurate rate of return.
Chandler Asset Management Performance Objective
The performance objective for the accounts is to achieve a rate of return over a market cycle
that equals or exceeds the return on a market index of similar duration and sector allocation.
Strategy
In order to achieve these objectives, the portfolio invests in high quality fixed income securities
consistent with the investment policy and California Government Code.
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STATEMENT OF COMPLIANCE
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Rules Name Limit Actual Compliance
Status Notes
AGENCY MORTGAGE SECURITIES
Max % (MV)20.0 4.7 Compliant
Max % Issuer (MV)10.0 4.7 Compliant
Max Maturity (Years)5.0 4.3 Compliant
Min Rating (AA- by 1)0.0 0.0 Compliant
BANKERS' ACCEPTANCES
Max % (MV)30.0 0.0 Compliant
Max % Issuer (MV)5.0 0.0 Compliant
Max Maturity (Days)180 0.0 Compliant
Min Rating (A- by 1)0.0 0.0 Compliant
CERTIFICATE OF DEPOSIT PLACEMENT SERVICE
(CDARS)
Max % (MV)30.0 0.0 Compliant
COLLATERALIZED BANK DEPOSITS
Max % (MV)100.0 0.0 Compliant
Max % Issuer (MV)30.0 0.0 Compliant
Max Maturity (Years)5.0 0.0 Compliant
Min Rating (A- by 1)0.0 0.0 Compliant
COLLATERALIZED TIME DEPOSITS (NON-
NEGOTIABLE CD/TD)
Max Maturity (Years)5.0 0.0 Compliant
Min Rating (A- by 1)0.0 0.0 Compliant
COMMERCIAL PAPER
Max % (MV)30.0 0.0 Compliant
Max % Issuer (Corporate & Commercial Paper; MV)10.0 0.5 Compliant
Max % Issuer (MV)5.0 0.0 Compliant
Max Maturity (Days)270 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1)0.0 0.0 Compliant
CORPORATE MEDIUM TERM NOTES
Max % (MV)30.0 15.1 Compliant
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STATEMENT OF COMPLIANCE
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Rules Name Limit Actual Compliance
Status Notes
Max % Issuer (Corporate & Commercial Paper; MV)10.0 0.5 Compliant
Max % Issuer (MV)5.0 0.5 Compliant
Max Maturity (Years)5 4 Compliant
Min Rating (A- by 1)0.0 0.0 Compliant
FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max Maturity (Years)5 0.0 Compliant
FEDERAL AGENCIES
Max % (MV)100.0 5.4 Compliant
Max % Issuer (MV)50.0 2.9 Compliant
Max Maturity (Years)5 3 Compliant
JPA INVESTMENT POOLS
Max % (MV)100.0 23.6 Compliant
Max % Issuer (MV)50.0 23.6 Compliant
Max Maturity (Years)5.0 0.0 Compliant
LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV)75.0 42.8 Compliant
MONEY MARKET MUTUAL FUNDS
Max % (MV)20.0 0.2 Compliant
Max % Issuer (MV)10.0 0.2 Compliant
Min Rating (AAA by 2)0.0 0.0 Compliant
MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV)30.0 0.0 Compliant
Max % Issuer (MV)5.0 0.0 Compliant
Max Maturity (Years)5 0.0 Compliant
Min Rating (A- by 1)0.0 0.0 Compliant
MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV)30.0 0.0 Compliant
Max % Issuer (MV)5.0 0.0 Compliant
Max Maturity (Years)5 0.0 Compliant
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STATEMENT OF COMPLIANCE
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Rules Name Limit Actual Compliance
Status Notes
Min Rating (A- by 1)0.0 0.0 Compliant
NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV)30.0 0.1 Compliant
Max % Issuer (MV)5.0 0.1 Compliant
Max Maturity (Years)5 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit)0.0 0.0 Compliant
REPURCHASE AGREEMENTS
Max % (MV)30.0 0.0 Compliant
Max % Issuer (MV)5.0 0.0 Compliant
Max Maturity (Years)1.0 0.0 Compliant
U.S. TREASURIES
Max % (MV)100.0 30.8 Compliant
Max % Issuer (MV)100.0 30.8 Compliant
Max Maturity (Years)5 4 Compliant
The City of Tustin maintains adequate liquidity to cover at least six months of expected disbursements.
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PORTFOLIO SUMMARY
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Portfolio Characteristics Account Summary Top Issuers
Average Modified Duration 1.41
Average Coupon 3.69%
Average Purchase YTM 3.83%
Average Market YTM 3.92%
Average Credit Quality*AA+
Average Final Maturity 1.56
Average Life 1.54
End Values as of
03/31/2026
End Values as of
06/30/2026
Market Value 245,456,165.32 255,617,399.84
Accrued Interest 1,175,884.38 1,182,709.26
Total Market Value 246,632,049.69 256,800,109.10
Income Earned 2,223,625.46 2,350,743.05
Cont/WD (6,084,815.91)8,723,193.95
Par 246,313,751.35 257,366,684.89
Book Value 245,338,339.91 256,453,409.31
Cost Value 244,982,795.26 255,935,217.57
United States 30.71%
California Asset Mgmt Program 23.73%
LAIF 16.75%
Federal Home Loan Mortgage Corp 4.74%
Citizens Business Bank 3.37%
Farm Credit System 2.88%
Federal Home Loan Banks 2.46%
Amazon.com, Inc.0.54%
Sector Allocation Maturity Distribution Credit Quality*
Realized Rate of Return**3M 1YR 2YRS 3YRS 5YRS 10YRS Since Inception
(12/01/20)
City of Tustin Cons Agg 0.92%3.84%3.94%3.99%3.03%--2.81%
*The average credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.** Periods over 1 year are annualized.
Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index Secondary Benchmark: ICE BofA 1-3 Year US Treasury & Agency Index
Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending value; it includes interest earnings, realized
and unrealized gains and losses in the portfolio. Realized Rate of Return: A measure of a portfolio’s return over time. It is the internal rate which equates the beginning book value of the portfolio with the ending book
value; it includes interest earnings, realized gains and losses in the portfolio.
Performance Review
Total Rate of Return**3M 1YR 2YRS 3YRS 5YRS 10YRS Since Inception
(12/01/20)
City of Tustin Cons Agg 0.59%3.47%4.28%4.42%2.13%--1.94%
Benchmark Return 0.24%2.71%4.37%4.30%1.52%--1.30%
Secondary Benchmark Return 0.39%2.94%4.30%4.37%1.95%--1.74%
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MATURITY DISTRIBUTION
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
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PORTFOLIO SUMMARY
City of Tustin | Account #10783 | As of June 30, 2026
Portfolio Characteristics Account Summary Top Issuers
Average Modified Duration 2.51
Average Coupon 3.84%
Average Purchase YTM 4.08%
Average Market YTM 4.26%
Average Credit Quality*AA
Average Final Maturity 2.79
Average Life 2.75
End Values as of
03/31/2026
End Values as of
06/30/2026
Market Value 142,714,827.75 143,162,464.23
Accrued Interest 1,175,884.38 1,182,709.26
Total Market Value 143,890,712.12 144,345,173.49
Income Earned 1,292,478.57 1,434,424.21
Cont/WD 20,000,000.00 0.00
Par 143,572,413.78 144,911,749.28
Book Value 142,597,002.35 143,998,473.71
Cost Value 142,241,457.70 143,480,281.97
United States 54.83%
Federal Home Loan Mortgage Corp 8.47%
Farm Credit System 5.15%
Federal Home Loan Banks 4.39%
Amazon.com, Inc.0.96%
The Goldman Sachs Group, Inc.0.95%
The Progressive Corporation 0.77%
Caterpillar Inc.0.77%
Sector Allocation Maturity Distribution Credit Quality*
Performance Review
Total Rate of Return**3M 1YR 2YRS 3YRS 5YRS 10YRS Since Inception
(12/01/20)
City of Tustin 0.33%3.05%4.49%4.71%2.20%--2.00%
Benchmark Return 0.24%2.71%4.37%4.30%1.52%--1.30%
Secondary Benchmark Return 0.39%2.94%4.30%4.37%1.95%--1.74%
Realized Rate of Return**3M 1YR 2YRS 3YRS 5YRS 10YRS Since Inception
(12/01/20)
City of Tustin 1.00%3.96%3.64%3.31%2.76%--2.70%
*The average credit quality is a weighted average calculation of the highest of S&P,Moody’s and Fitch.** Periods over 1 year are annualized.
Benchmark:ICE BofA 1-5 Year Unsubordinated US Treasury &Agency Index Secondary Benchmark:ICE BofA 1-3 Year US Treasury &Agency Index
Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending value; it includes interest
earnings, realized and unrealized gains and losses in the portfolio. Realized Rate of Return: A measure of a portfolio’s return over time. It is the internal rate which equates the beginning book
value of the portfolio with the ending book value; it includes interest earnings, realized gains and losses in the portfolio.
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PORTFOLIO HOLDINGS
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ISSUERS
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Issuer Investment Type % Portfolio
United States US Treasury 30.71%
California Asset Mgmt Program LGIP 23.73%
LAIF LAIF 16.75%
Federal Home Loan Mortgage Corp Agency CMBS 4.74%
Citizens Business Bank Cash 3.37%
Farm Credit System Agency 2.88%
Federal Home Loan Banks Agency 2.46%
Amazon.com, Inc.Corporate 0.54%
The Goldman Sachs Group, Inc.Corporate 0.43%
The Progressive Corporation Corporate 0.43%
Caterpillar Inc.Corporate 0.43%
JPMorgan Chase & Co.Corporate 0.43%
Prologis, Inc.Corporate 0.42%
Toyota Motor Corporation Corporate 0.40%
Johnson & Johnson Corporate 0.40%
Cisco Systems, Inc.Corporate 0.40%
Blackrock, Inc.Corporate 0.40%
The Home Depot, Inc.Corporate 0.40%
State Street Corporation Corporate 0.39%
Deere & Company Corporate 0.39%
Bank of America Corporation Corporate 0.39%
Met Tower Global Funding Corporate 0.39%
Abbvie Inc.Corporate 0.39%
BNY Mellon Corp Corporate 0.39%
Nat Rural Util Coop Fin Corp Corporate 0.39%
PACCAR Inc Corporate 0.39%
PepsiCo, Inc.Corporate 0.39%
U.S. Bancorp Corporate 0.39%
Wells Fargo & Company Corporate 0.39%
Florida Power & Light Corporate 0.39%
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ISSUERS
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Issuer Investment Type % Portfolio
New York Life Insurance Company Corporate 0.39%
Northern Trust Corporation Corporate 0.39%
Northwestern Mutual Global Funding Corporate 0.39%
Morgan Stanley Corporate 0.39%
CME Group Inc.Corporate 0.39%
American Express Company Corporate 0.39%
Eli Lilly and Company Corporate 0.39%
Merck & Co., Inc.Corporate 0.39%
Guardian Life Global Funding Corporate 0.39%
PNC Financial Services Corporate 0.38%
Mastercard Incorporated Corporate 0.38%
Honeywell International Inc.Corporate 0.37%
Apple Inc.Corporate 0.37%
Walmart Inc.Corporate 0.35%
Public Service Enterprise Group Corporate 0.23%
First American Govt Oblig Fund Money Mkt Fd 0.17%
Cash Cash 0.14%
The Goldman Sachs Group, Inc.Neg CD 0.10%
TOTAL 100.00%
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Docusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D
HOLDINGS REPORT
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
AGENCY
3130AXU63 FEDERAL HOME LOAN BANKS
4.625 11/17/2026 1,500,000.00 11/30/2023
4.54%
1,503,345.00
1,500,429.72
100.24
3.96%
1,503,568.50
8,479.17
0.59%
3,138.78
Aa1/AA+
AA+
0.38
0.37
3133EPH81 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 10/04/2027 1,000,000.00 12/08/2023
4.45%
1,001,820.00
1,000,601.01
100.50
4.08%
1,005,047.00
10,875.00
0.39%
4,446.00
Aa1/AA+
AA+
1.26
1.20
3130AWMN7 FEDERAL HOME LOAN BANKS
4.375 06/09/2028 1,250,000.00 07/26/2023
4.27%
1,255,762.50
1,252,301.75
100.40
4.16%
1,255,001.25
3,342.01
0.49%
2,699.50
Aa1/AA+
AA+
1.94
1.84
3133EPUN3 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 08/28/2028 1,500,000.00 08/29/2023
4.37%
1,507,785.00
1,503,367.52
100.49
4.26%
1,507,365.00
23,062.50
0.59%
3,997.48
Aa1/AA+
AA+
2.16
2.01
3130AXQK7 FEDERAL HOME LOAN BANKS 4.75
12/08/2028 1,200,000.00 12/08/2023
4.33%
1,222,020.00
1,210,756.48
101.29
4.19%
1,215,487.20
3,641.67
0.48%
4,730.72
Aa1/AA+
AA+
2.44
2.28
3133EPW84 FEDERAL FARM CREDIT BANKS
FUNDING CORP 3.875 01/18/2029 1,500,000.00 01/29/2024
4.04%
1,488,945.00
1,494,320.14
99.24
4.19%
1,488,633.00
26,317.71
0.58%
(5,687.14)
Aa1/AA+
AA+
2.55
2.36
3130AVBD3 FEDERAL HOME LOAN BANKS 4.5
03/09/2029 1,400,000.00 04/25/2024
4.76%
1,384,040.00
1,391,185.20
100.70
4.22%
1,409,795.80
19,600.00
0.55%
18,610.60
Aa1/AA+
AA+
2.69
2.48
3133ERAK7 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.375 04/10/2029 1,400,000.00 04/25/2024
4.77%
1,376,046.00
1,386,550.74
100.50
4.18%
1,407,015.40
13,781.25
0.55%
20,464.66
Aa1/AA+
AA+
2.78
2.57
3133ERSP7 FEDERAL FARM CREDIT BANKS
FUNDING CORP 3.5 09/10/2029 2,000,000.00 09/17/2024
3.47%
2,002,440.00
2,001,566.27
97.88
4.21%
1,957,660.00
21,583.33
0.77%
(43,906.27)
Aa1/AA+
AA+
3.20
2.95
3130ATHX8 FEDERAL HOME LOAN BANKS
4.125 09/14/2029 900,000.00 09/30/2024
3.58%
921,906.00
914,180.17
99.71
4.22%
897,357.60
11,034.38
0.35%
(16,822.57)
Aa1/AA+
AA+
3.21
2.94
Total Agency 13,650,000.00 4.25%
13,664,109.51
13,655,259.01
99.99
4.17%
13,646,930.75
141,717.01
5.34%
(8,328.26)
2.28
2.12
AGENCY CMBS
3137F1G44 FHMS K-065 A2 3.243 04/25/2027 750,000.00 06/08/2023
4.39%
719,560.55
743,991.06
99.10
4.24%
743,253.75
2,026.88
0.29%
(737.31)
Aa1/AA+
AAA
0.82
0.71
3137FEZU7 FHMS K-076 A2 3.9 04/25/2028 750,000.00 10/30/2023
5.32%
708,310.55
733,448.36
99.06
4.35%
742,979.25
2,437.50
0.29%
9,530.89
Aa1/AA+
AAA
1.82
1.62
3137FJEH8 FHMS K-081 A2 3.9 08/25/2028 700,000.00 05/29/2025
4.23%
692,125.00
694,822.48
98.79
4.41%
691,510.40
2,275.00
0.27%
(3,312.08)
Aa1/AA+
AAA
2.15
1.99
3137FJKE8 FHMS K-082 A2 3.92 09/25/2028 750,000.00 10/30/2023
5.31%
705,556.64
730,031.96
98.81
4.41%
741,087.00
2,450.00
0.29%
11,055.04
Aa1/AA+
AAA
2.24
2.02
19
Docusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D
HOLDINGS REPORT
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3137H4BY5 FHMS K-746 A2 2.031 09/25/2028 1,500,000.00 05/15/2025
4.30%
1,395,527.34
1,430,960.98
94.97
4.43%
1,424,551.50
2,538.75
0.56%
(6,409.48)
Aa1/AA+
AAA
2.24
2.09
3137FJXV6 FHMS K-083 A2 4.05 09/25/2028 300,000.00 05/29/2025
4.26%
297,609.38
298,406.92
99.03
4.42%
297,087.90
1,012.50
0.12%
(1,319.02)
Aa1/AA+
AAA
2.24
2.08
3137FKZZ2 FHMS K-088 A2 3.69 01/25/2029 1,000,000.00 07/22/2024
4.58%
963,789.06
979,560.14
98.12
4.43%
981,214.00
3,075.00
0.38%
1,653.86
Aaa/AA+
AA+
2.57
2.33
3137H5YC5 FHMS K-748 A2 2.26 01/25/2029 643,000.00 06/17/2025
4.22%
601,858.05
613,772.61
94.87
4.43%
609,994.17
1,210.98
0.24%
(3,778.44)
Aa1/AA+
AAA
2.57
2.36
3137FLN91 FHMS K-091 A2 3.505 03/25/2029 1,000,000.00 03/05/2025
4.31%
970,234.38
980,033.25
97.59
4.43%
975,930.00
2,920.83
0.38%
(4,103.25)
Aa1/AAA
AA+
2.73
2.45
3137FLYV0 FHMS K-092 A2 3.298 04/25/2029 1,000,000.00 09/17/2024
3.72%
981,484.38
988,749.58
96.97
4.43%
969,709.00
2,748.33
0.38%
(19,040.58)
Aa1/AA+
AAA
2.82
2.57
3137FNX54 FHMS K-097 A2 2.508 07/25/2029 1,250,000.00 12/18/2025
3.77%
1,196,679.69
1,204,557.50
94.50
4.43%
1,181,280.00
2,612.50
0.46%
(23,277.50)
Aaa/AA+
AA+
3.07
2.86
3137H9D71 FHMS K-750 A2 3.0 09/25/2029 750,000.00 06/17/2025
4.23%
716,601.56
724,738.48
96.12
4.43%
720,885.75
1,875.00
0.28%
(3,852.73)
Aa1/AA+
AAA
3.24
2.66
3137FX3Q9 FHMS K-117 A2 1.406 08/25/2030 1,000,000.00 09/11/2025
3.87%
891,757.81
909,271.15
88.69
4.46%
886,929.00
1,171.67
0.35%
(22,342.15)
Aa1/AA+
AAA
4.15
3.88
3137F83Q4 FHMS K-121 A2 1.547 10/25/2030 1,300,000.00 01/14/2026
3.99%
1,163,500.00
1,176,393.88
88.68
4.46%
1,152,847.80
1,675.92
0.45%
(23,546.08)
Aa1/AA+
AAA
4.32
4.06
Total Agency CMBS 12,693,000.00 4.28%
12,004,594.39
12,208,738.35
95.61
4.41%
12,119,259.52
30,030.86
4.74%
(89,478.83)
2.73
2.49
CASH
CBGMMF$04 Citizens Business Bank 3,737,788.77 --
0.00%
3,737,788.77
3,737,788.77
1.00
0.00%
3,737,788.77
0.00
1.46%
0.00
NA/NA
NA
0.00
0.00
CBGMMF$03 Citizens Business Bank 4,869,187.25 06/30/2026
0.00%
4,869,187.25
4,869,187.25
1.00
0.00%
4,869,187.25
0.00
1.90%
0.00
NA/NA
NA
0.00
0.00
CCYUSD Receivable 360,346.92 --360,346.92
360,346.92
1.00 360,346.92
0.00
0.14%
0.00
Aaa/AAA
AAA
0.00
0.00
CCYUSD Receivable 2,598.85 --2,598.85
2,598.85
1.00 2,598.85
0.00
0.00%
0.00
Aaa/AAA
AAA
0.00
0.00
20
Docusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D
HOLDINGS REPORT
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Cash 8,969,921.79 0.00%
8,969,921.79
8,969,921.79
1.00
0.00%
8,969,921.79
0.00
3.51%
0.00
0.00
0.00
CORPORATE
931142ER0 WALMART INC 1.05 09/17/2026 900,000.00 09/22/2021
1.00%
902,277.00
900,060.21
99.39
3.93%
894,553.20
2,730.00
0.35%
(5,507.01)
Aa2/AA
AA
0.22
0.21
61746BEF9 MORGAN STANLEY 3.625
01/20/2027 1,000,000.00 01/14/2025
4.70%
979,620.00
994,371.24
99.61
4.35%
996,069.00
16,211.81
0.39%
1,697.76
A1/A-
A+
0.56
0.53
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027 1,000,000.00 01/30/2023
4.35%
986,540.00
997,297.64
99.81
4.22%
998,094.00
5,666.67
0.39%
796.36
A2/A+
A+
0.86
0.83
24422EXZ7 JOHN DEERE CAPITAL CORP 4.65
01/07/2028 1,000,000.00 01/10/2025
4.75%
997,270.00
998,608.68
100.55
4.27%
1,005,542.00
22,475.00
0.39%
6,933.32
A1/A
A+
1.52
1.42
58989V2K9 MET TOWER GLOBAL FUNDING
4.8 01/14/2028 1,000,000.00 01/10/2025
4.91%
996,910.00
998,414.08
100.46
4.49%
1,004,559.00
22,266.67
0.39%
6,144.92
Aa3/AA-
AA-
1.54
1.43
95000U3R2 WELLS FARGO & CO 4.9
01/24/2028 1,000,000.00 01/30/2025
4.86%
1,000,770.00
1,000,220.46
100.23
4.45%
1,002,265.00
21,369.44
0.39%
2,044.54
A1/BBB+
A+
1.57
0.54
63743HFW7
NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP 4.75
02/07/2028
1,000,000.00 02/07/2025
4.77%
999,330.00
999,640.46
100.41
4.48%
1,004,060.00
19,000.00
0.39%
4,419.54
A2/NA
A
1.61
1.42
69371RT63 PACCAR FINANCIAL CORP 4.55
03/03/2028 1,000,000.00 05/02/2025
4.21%
1,009,000.00
1,005,323.33
100.34
4.33%
1,003,399.00
14,913.89
0.39%
(1,924.33)
A1/A+
NA
1.68
1.57
00287YDY2 ABBVIE INC 4.65 03/15/2028 1,000,000.00 03/05/2025
4.40%
1,006,680.00
1,003,687.66
100.43
4.38%
1,004,301.00
13,691.67
0.39%
613.34
A2/A-
NA
1.71
1.53
64953BBW7 NEW YORK LIFE GLOBAL FUNDING
4.4 04/25/2028 1,000,000.00 04/24/2025
4.33%
1,002,060.00
1,001,248.03
99.84
4.49%
998,442.00
8,066.67
0.39%
(2,806.03)
Aa1/AA+
AAA
1.82
1.71
74456QBU9 PUBLIC SERVICE ELECTRIC AND
GAS CO 3.7 05/01/2028 600,000.00 06/29/2023
4.87%
570,144.00
588,679.39
98.80
4.39%
592,774.20
3,700.00
0.23%
4,094.81
A1/A
NA
1.84
1.74
341081GN1 FLORIDA POWER & LIGHT CO 4.4
05/15/2028 1,000,000.00 06/07/2023
4.69%
987,550.00
995,274.25
100.06
4.36%
1,000,636.00
5,622.22
0.39%
5,361.75
Aa2/A+
AA-
1.88
1.62
90331HPS6 US BANK NA 4.73 05/15/2028 1,000,000.00 05/13/2025
4.86%
1,000,600.00
1,000,368.11
100.23
4.51%
1,002,276.00
6,043.89
0.39%
1,907.89
A2/A+
A+
1.88
0.84
89236TLB9 TOYOTA MOTOR CREDIT CORP
5.25 09/11/2028 1,000,000.00 09/26/2023
5.34%
996,180.00
998,305.27
101.67
4.44%
1,016,666.00
16,041.67
0.40%
18,360.73
A1/A+
A+
2.20
2.03
21
Docusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D
HOLDINGS REPORT
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
06051GMK2 BANK OF AMERICA CORP 4.979
01/24/2029 1,000,000.00 02/14/2025
4.84%
1,003,780.00
1,002,020.71
100.55
4.56%
1,005,463.00
21,713.97
0.39%
3,442.29
A1/A-
AA-
2.57
1.46
17275RBR2 CISCO SYSTEMS INC 4.85
02/26/2029 1,000,000.00 09/27/2024
3.90%
1,037,530.00
1,022,342.12
101.06
4.42%
1,010,619.00
16,840.28
0.40%
(11,723.12)
A1/AA-
NA
2.66
2.36
09290DAA9 BLACKROCK INC 4.7 03/14/2029 1,000,000.00 07/22/2024
4.65%
1,002,010.00
1,001,156.32
100.99
4.30%
1,009,924.00
13,969.44
0.40%
8,767.68
Aa3/AA-
NA
2.70
2.41
06405LAH4 BANK OF NEW YORK MELLON
4.729 04/20/2029 1,000,000.00 04/24/2025
4.41%
1,008,810.00
1,005,321.53
100.42
4.58%
1,004,216.00
9,326.64
0.39%
(1,105.53)
Aa2/AA-
AA+
2.80
1.70
693475AW5 PNC FINANCIAL SERVICES GROUP
INC 3.45 04/23/2029 1,000,000.00 07/16/2025
4.34%
969,260.00
977,056.70
97.24
4.50%
972,440.00
6,516.67
0.38%
(4,616.70)
A3/A-
A
2.81
2.63
14913V2C1 CATERPILLAR FINANCIAL SERVICES
CORP 4.3 05/15/2029 1,100,000.00 05/12/2026
4.34%
1,098,867.00
1,098,915.59
99.63
4.44%
1,095,968.50
6,043.89
0.43%
(2,947.09)
A1/A
A+
2.87
2.66
57636QAM6 MASTERCARD INC 2.95
06/01/2029 1,000,000.00 04/17/2025
4.28%
950,210.00
964,663.02
96.30
4.31%
962,983.00
2,458.33
0.38%
(1,680.02)
Aa3/A+
NA
2.92
2.75
437076DC3 HOME DEPOT INC 4.75
06/25/2029 1,000,000.00 04/17/2025
4.38%
1,013,630.00
1,009,654.96
100.99
4.39%
1,009,897.00
791.67
0.40%
242.04
A2/A
A
2.99
2.68
713448FX1 PEPSICO INC 4.5 07/17/2029 1,000,000.00 07/22/2024
4.56%
997,560.00
998,509.19
100.31
4.39%
1,003,094.00
20,500.00
0.39%
4,584.81
A1/A+
NA
3.05
2.69
025816EJ4 AMERICAN EXPRESS CO 4.351
07/20/2029 1,000,000.00 08/11/2025
4.28%
1,001,850.00
1,001,293.10
99.49
4.56%
994,886.00
19,458.64
0.39%
(6,407.10)
A2/A-
A
3.05
1.90
532457CQ9 ELI LILLY AND CO 4.2 08/14/2029 1,000,000.00 08/15/2024
4.20%
1,000,130.00
1,000,080.41
99.48
4.38%
994,769.00
15,983.33
0.39%
(5,311.41)
Aa3/AA-
NA
3.12
2.85
438516BU9 HONEYWELL INTERNATIONAL INC
2.7 08/15/2029 1,000,000.00 08/15/2024
4.27%
930,020.00
956,248.12
94.65
4.56%
946,511.00
10,200.00
0.37%
(9,737.12)
A2/A
A
3.13
2.91
037833DP2 APPLE INC 2.2 09/11/2029 1,000,000.00 10/30/2024
4.31%
908,490.00
939,817.75
93.92
4.25%
939,220.00
6,722.22
0.37%
(597.75)
Aaa/AA+
NA
3.20
3.01
40139LBJ1 GUARDIAN LIFE GLOBAL FUNDING
4.179 09/26/2029 1,000,000.00 03/05/2025
4.53%
985,840.00
989,939.17
98.69
4.62%
986,909.00
11,027.92
0.39%
(3,030.17)
Aa1/AA+
NA
3.24
2.96
857477CW1 STATE STREET CORP 4.729
02/28/2030 1,000,000.00 03/05/2025
4.62%
1,003,660.00
1,002,673.91
100.70
4.52%
1,006,973.00
16,157.42
0.39%
4,299.09
Aa3/A
AA-
3.67
3.21
478160DJ0 JOHNSON & JOHNSON 4.7
03/01/2030 1,000,000.00 04/17/2025
4.21%
1,021,100.00
1,015,834.06
101.24
4.33%
1,012,444.00
15,666.67
0.40%
(3,390.06)
Aaa/AAA
NA
3.67
3.22
12572QAL9 CME GROUP INC 4.4 03/15/2030 1,000,000.00 07/16/2025
4.39%
1,000,190.00
1,000,150.39
99.53
4.54%
995,261.00
12,955.56
0.39%
(4,889.39)
Aa3/AA-
AA-
3.71
3.34
22
Docusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D
HOLDINGS REPORT
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
46647PFL5 JPMORGAN CHASE & CO 4.408
04/23/2030 1,100,000.00 05/08/2026
4.52%
1,096,073.00
1,096,211.79
99.15
4.67%
1,090,644.50
9,158.84
0.43%
(5,567.29)
A1/A
AA-
3.81
2.59
66815L2W8 NORTHWESTERN MUTUAL
GLOBAL FUNDING 4.6 06/03/2030 1,000,000.00 07/02/2025
4.41%
1,008,110.00
1,006,470.84
99.72
4.68%
997,198.00
3,577.78
0.39%
(9,272.84)
Aa1/AA+
AAA
3.93
3.54
58933YBQ7 MERCK & CO INC 4.15 09/15/2030 1,000,000.00 09/11/2025
3.97%
1,007,940.00
1,006,661.64
98.82
4.46%
988,160.00
12,219.44
0.39%
(18,501.64)
Aa3/A+
NA
4.21
3.77
023135DD5 AMAZON.COM INC 4.25
03/13/2031 1,400,000.00 03/12/2026
4.41%
1,390,228.00
1,390,816.67
98.47
4.62%
1,378,517.00
17,850.00
0.54%
(12,299.67)
A1/AA
AA-
4.70
4.16
743315BC6 PROGRESSIVE CORP 4.6
03/26/2031 1,100,000.00 05/12/2026
4.60%
1,099,901.00
1,099,903.73
99.67
4.68%
1,096,318.30
13,352.78
0.43%
(3,585.43)
A2/A
A
4.74
4.16
38141GC93 GOLDMAN SACHS GROUP INC
5.218 04/23/2031 1,100,000.00 06/25/2026
4.82%
1,114,894.00
1,114,840.69
101.00
4.98%
1,110,962.60
10,841.84
0.43%
(3,878.09)
A2/BBB+
A
4.81
3.39
74340XCU3 PROLOGIS LP 4.25 06/15/2031 1,100,000.00 06/17/2026
4.63%
1,081,454.00
1,081,586.25
98.16
4.67%
1,079,717.10
8,830.56
0.42%
(1,869.15)
A2/A
NA
4.96
4.38
Total Corporate 38,400,000.00 4.43%
38,166,468.00
38,263,667.46
99.55
4.47%
38,216,731.40
459,963.47
14.95%
(46,936.06)
2.79
2.36
LAIF
90LAIF$00 Local Agency Investment Fund
State Pool 42,820,769.58 --
3.82%
42,820,769.58
42,820,769.58
1.00
3.82%
42,820,769.58
0.00
16.75%
0.00
NA/NA
NA
0.00
0.00
Total LAIF 42,820,769.58 3.82%
42,820,769.58
42,820,769.58
1.00
3.82%
42,820,769.58
0.00
16.75%
0.00
0.00
0.00
LOCAL GOV
INVESTMENT POOL
90CAMP$00 CAMP 60,666,843.09 --
3.77%
60,666,843.08
60,666,843.08
1.00
3.77%
60,666,843.09
0.00
23.73%
0.01
NA/AAAm
NA
0.00
0.00
Total Local Gov
Investment Pool 60,666,843.09 3.77%
60,666,843.08
60,666,843.08
1.00
3.77%
60,666,843.09
0.00
23.73%
0.01
0.00
0.00
MONEY MARKET
FUND
23
Docusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D
HOLDINGS REPORT
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
31846V203 FIRST AMER:GVT OBLG Y 431,150.43 --
3.27%
431,150.43
431,150.43
1.00
3.27%
431,150.43
0.00
0.17%
0.00
Aaa/AAAm
AAA
0.00
0.00
Total Money Market 431,150.43 1.00 431,150.43 0.17%0.00
Fund 431,150.43 3.27%431,150.43 3.27%0.00 0.00 0.00
NEGOTIABLE CD
38149MYS6 Goldman Sachs Bank USA 1.05
08/25/2026 245,000.00 08/17/2021
1.15%
243,775.00
244,963.10
99.54
4.09%
243,880.35
888.04
0.10%
(1,082.75)
A1/A+
AA-
0.15
0.15
243,775.00 99.54 243,880.35 0.10%0.15
Total Negotiable CD 245,000.00 1.15%244,963.10 4.09%888.04 (1,082.75)0.15
US TREASURY
912797UP0 UNITED STATES TREASURY
07/14/2026 1,000,000.00 05/15/2026
3.66%
994,311.88
998,702.71
99.87
3.63%
998,708.00
0.00
0.39%
5.29
P-1/A-1+
F1+
0.04
0.04
91282CJC6 UNITED STATES TREASURY 4.625
10/15/2026 1,750,000.00 02/13/2026
3.57%
1,761,757.81
1,755,193.03
100.23
3.78%
1,754,046.00
17,027.83
0.69%
(1,147.03)
Aa1/AA+
AA+
0.29
0.29
91282CJP7 UNITED STATES TREASURY 4.375
12/15/2026 2,000,000.00 03/12/2026
3.68%
2,010,234.38
2,006,170.19
100.23
3.85%
2,004,640.00
3,825.14
0.78%
(1,530.19)
Aa1/AA+
AA+
0.46
0.45
91282CNE7 UNITED STATES TREASURY 3.875
05/31/2027 2,000,000.00 11/20/2025
3.60%
2,008,046.88
2,004,833.92
99.79
4.10%
1,995,876.00
6,564.21
0.78%
(8,957.92)
Aa1/AA+
AA+
0.92
0.89
91282CNL1 UNITED STATES TREASURY 3.75
06/30/2027 1,400,000.00 07/16/2025
3.88%
1,396,554.69
1,398,241.10
99.65
4.11%
1,395,088.80
142.66
0.55%
(3,152.30)
Aa1/AA+
AA+
1.00
0.97
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 3,740,000.00 --
4.27%
3,719,978.91
3,733,817.00
99.97
4.14%
3,738,978.98
38,779.51
1.46%
5,161.98
Aa1/AA+
AA+
1.25
1.19
91282CLX7 UNITED STATES TREASURY 4.125
11/15/2027 2,500,000.00 02/18/2025
4.31%
2,487,792.97
2,493,859.79
99.94
4.17%
2,498,437.50
13,170.86
0.98%
4,577.71
Aa1/AA+
AA+
1.38
1.31
91282CMB4 UNITED STATES TREASURY 4.0
12/15/2027 1,750,000.00 12/18/2025
3.44%
1,768,525.39
1,763,575.08
99.77
4.16%
1,745,966.25
3,060.11
0.68%
(17,608.83)
Aa1/AA+
AA+
1.46
1.40
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 1,500,000.00 02/23/2023
4.13%
1,458,281.25
1,486,565.54
98.97
4.18%
1,484,532.00
21,899.17
0.58%
(2,033.54)
Aa1/AA+
AA+
1.59
1.50
9128283W8 UNITED STATES TREASURY 2.75
02/15/2028 1,400,000.00 11/08/2024
4.22%
1,338,039.06
1,369,071.60
97.79
4.17%
1,369,047.40
14,464.09
0.54%
(24.20)
Aa1/AA+
AA+
1.63
1.55
24
Docusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D
HOLDINGS REPORT
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CMW8 UNITED STATES TREASURY 3.75
04/15/2028 1,200,000.00 04/15/2025
3.84%
1,196,953.13
1,198,180.23
99.29
4.16%
1,191,469.20
9,467.21
0.47%
(6,711.03)
Aa1/AA+
AA+
1.79
1.70
91282CHA2 UNITED STATES TREASURY 3.5
04/30/2028 1,000,000.00 02/07/2025
4.31%
975,898.44
986,277.49
98.82
4.17%
988,242.00
5,896.74
0.39%
1,964.51
Aa1/AA+
AA+
1.84
1.74
91282CND9 UNITED STATES TREASURY 3.75
05/15/2028 2,000,000.00 03/30/2026
3.84%
1,996,406.25
1,996,832.31
99.26
4.16%
1,985,156.00
9,578.80
0.78%
(11,676.31)
Aa1/AA+
AA+
1.88
1.78
91282CNM9 UNITED STATES TREASURY 3.875
07/15/2028 2,000,000.00 12/18/2025
3.47%
2,019,609.38
2,015,558.03
99.43
4.17%
1,988,516.00
35,752.76
0.78%
(27,042.03)
Aa1/AA+
AA+
2.04
1.91
91282CPC9 UNITED STATES TREASURY 3.5
10/15/2028 2,000,000.00 12/18/2025
3.49%
2,000,703.13
2,000,570.82
98.54
4.17%
1,970,860.00
14,726.78
0.77%
(29,710.82)
Aa1/AA+
AA+
2.29
2.16
9128285M8 UNITED STATES TREASURY 3.125
11/15/2028 1,500,000.00 02/29/2024
4.30%
1,425,351.56
1,462,328.58
97.66
4.17%
1,464,961.50
5,986.75
0.57%
2,632.92
Aa1/AA+
AA+
2.38
2.25
91282CPP0 UNITED STATES TREASURY 3.5
12/15/2028 2,000,000.00 04/21/2026
3.79%
1,985,468.75
1,986,519.56
98.45
4.17%
1,969,062.00
3,060.11
0.77%
(17,457.56)
Aa1/AA+
AA+
2.46
2.32
9128286T2 UNITED STATES TREASURY 2.375
05/15/2029 1,350,000.00 05/16/2024
4.41%
1,228,130.86
1,279,911.88
95.21
4.16%
1,285,399.80
4,094.94
0.50%
5,487.92
Aa1/AA+
AA+
2.87
2.73
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029 1,500,000.00 06/02/2025
3.98%
1,528,710.94
1,520,971.98
100.91
4.17%
1,513,594.50
5,717.21
0.59%
(7,377.48)
Aa1/AA+
AA+
2.92
2.70
91282CEV9 UNITED STATES TREASURY 3.25
06/30/2029 1,500,000.00 08/15/2024
3.82%
1,462,089.84
1,476,665.75
97.43
4.17%
1,461,504.00
132.47
0.57%
(15,161.75)
Aa1/AA+
AA+
3.00
2.82
91282CFC0 UNITED STATES TREASURY 2.625
07/31/2029 1,500,000.00 08/15/2024
3.81%
1,420,078.13
1,450,280.65
95.58
4.17%
1,433,671.50
16,424.38
0.56%
(16,609.15)
Aa1/AA+
AA+
3.08
2.89
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 1,200,000.00 04/15/2025
3.94%
1,202,812.50
1,202,020.98
99.52
4.17%
1,194,280.80
20,022.10
0.47%
(7,740.18)
Aa1/AA+
AA+
3.08
2.82
91282CFJ5 UNITED STATES TREASURY 3.125
08/31/2029 2,500,000.00 09/11/2024
3.52%
2,455,664.06
2,471,721.78
96.91
4.17%
2,422,852.50
26,112.43
0.95%
(48,869.28)
Aa1/AA+
AA+
3.17
2.94
91282CFT3 UNITED STATES TREASURY 4.0
10/31/2029 2,750,000.00 12/16/2024
4.27%
2,717,666.02
2,727,862.40
99.45
4.18%
2,734,853.00
18,532.61
1.07%
6,990.60
Aa1/AA+
AA+
3.34
3.07
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 1,500,000.00 12/04/2024
4.08%
1,503,339.84
1,502,288.92
99.84
4.17%
1,497,657.00
5,240.78
0.59%
(4,631.92)
Aa1/AA+
AA+
3.42
3.14
91282CMD0 UNITED STATES TREASURY 4.375
12/31/2029 2,000,000.00 12/30/2024
4.39%
1,998,984.38
1,999,288.62
100.64
4.17%
2,012,890.00
237.77
0.79%
13,601.38
Aa1/AA+
AA+
3.50
3.21
91282CGB1 UNITED STATES TREASURY 3.875
12/31/2029 2,200,000.00 01/14/2026
3.66%
2,217,015.63
2,215,050.48
99.02
4.18%
2,178,343.20
231.66
0.85%
(36,707.28)
Aa1/AA+
AA+
3.50
3.24
25
Docusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D
HOLDINGS REPORT
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CGJ4 UNITED STATES TREASURY 3.5
01/31/2030 2,250,000.00 01/14/2026
3.67%
2,235,673.83
2,237,293.65
97.75
4.18%
2,199,462.75
32,848.76
0.86%
(37,830.90)
Aa1/AA+
AA+
3.59
3.28
91282CGQ8 UNITED STATES TREASURY 4.0
02/28/2030 2,250,000.00 01/14/2026
3.68%
2,277,509.77
2,274,457.19
99.39
4.18%
2,236,376.25
30,081.52
0.87%
(38,080.94)
Aa1/AA+
AA+
3.67
3.33
91282CMU2 UNITED STATES TREASURY 4.0
03/31/2030 1,000,000.00 04/07/2025
3.77%
1,010,390.63
1,007,824.41
99.36
4.18%
993,633.00
10,054.64
0.39%
(14,191.41)
Aa1/AA+
AA+
3.75
3.41
91282CMZ1 UNITED STATES TREASURY 3.875
04/30/2030 2,000,000.00 12/18/2025
3.61%
2,021,406.25
2,018,799.34
98.92
4.18%
1,978,360.00
13,057.07
0.77%
(40,439.34)
Aa1/AA+
AA+
3.83
3.50
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030 3,000,000.00 --
4.01%
2,999,121.10
2,999,313.24
99.32
4.19%
2,979,726.00
10,163.93
1.17%
(19,587.24)
Aa1/AA+
AA+
3.92
3.58
91282CHJ3 UNITED STATES TREASURY 3.75
06/30/2030 2,000,000.00 12/18/2025
3.62%
2,010,937.50
2,009,654.63
98.38
4.20%
1,967,500.00
203.80
0.77%
(42,154.63)
Aa1/AA+
AA+
4.00
3.67
91282CNN7 UNITED STATES TREASURY 3.875
07/31/2030 2,000,000.00 --
3.84%
2,003,398.44
2,002,915.04
98.82
4.19%
1,976,406.00
32,327.35
0.77%
(26,509.04)
Aa1/AA+
AA+
4.08
3.68
91282CNX5 UNITED STATES TREASURY 3.625
08/31/2030 2,000,000.00 12/18/2025
3.64%
1,998,828.13
1,998,960.61
97.83
4.20%
1,956,640.00
24,232.34
0.77%
(42,320.61)
Aa1/AA+
AA+
4.17
3.77
91282CPA3 UNITED STATES TREASURY 3.625
09/30/2030 1,000,000.00 10/06/2025
3.73%
995,312.50
996,000.55
97.80
4.20%
977,969.00
9,112.02
0.38%
(18,031.55)
Aa1/AA+
AA+
4.25
3.86
91282CPD7 UNITED STATES TREASURY 3.625
10/31/2030 1,500,000.00 11/13/2025
3.70%
1,494,785.16
1,495,444.21
97.74
4.20%
1,466,133.00
9,161.01
0.57%
(29,311.21)
Aa1/AA+
AA+
4.34
3.94
91282CPN5 UNITED STATES TREASURY 3.5
11/30/2030 2,000,000.00 12/18/2025
3.65%
1,986,328.13
1,987,795.95
97.20
4.20%
1,943,906.00
5,928.96
0.76%
(43,889.95)
Aa1/AA+
AA+
4.42
4.03
91282CPR6 UNITED STATES TREASURY 3.625
12/31/2030 3,000,000.00 03/12/2026
3.87%
2,967,890.63
2,969,904.33
97.64
4.21%
2,929,335.00
295.52
1.15%
(40,569.33)
Aa1/AA+
AA+
4.50
4.10
91282CPW5 UNITED STATES TREASURY 3.75
01/31/2031 2,000,000.00 02/03/2026
3.85%
1,991,406.25
1,992,099.60
98.11
4.21%
1,962,266.00
31,284.53
0.77%
(29,833.60)
Aa1/AA+
AA+
4.59
4.10
91282CQD6 UNITED STATES TREASURY 3.5
02/28/2031 3,000,000.00 03/12/2026
3.87%
2,949,609.38
2,952,666.73
97.07
4.20%
2,911,992.00
35,095.11
1.14%
(40,674.73)
Aa1/AA+
AA+
4.67
4.20
91282CQU8 UNITED STATES TREASURY 4.125
05/31/2031 1,750,000.00 06/17/2026
4.17%
1,746,582.03
1,746,606.61
99.63
4.21%
1,743,574.00
6,114.24
0.68%
(3,032.61)
Aa1/AA+
AA+
4.92
4.39
Total US Treasury 79,490,000.00 3.87%
78,967,585.79
79,192,096.51
98.77
4.15%
78,501,912.93
550,109.88
30.71%
(690,183.58)
2.91
2.68
26
Docusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D
HOLDINGS REPORT
City of Tustin Cons Account | Account #10795 | As of June 30, 2026
Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Portfolio 257,366,684.89 3.83%
255,935,217.57
256,453,409.31
55.62
3.92%
255,617,399.84
1,182,709.26
100.00%
(836,009.47)
1.56
1.41
Total Market Value +
Accrued 256,800,109.10
27
Docusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D
TRANSACTIONS
28
Docusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D
TRANSACTION LEDGER
City of Tustin Cons Account | Account #10795|04/01/2026 Through 06/30/2026|
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp
Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 04/22/2026 91282CPP0 2,000,000.00
UNITED STATES
TREASURY 3.5
12/15/2028
99.273 3.79%(1,985,468.75)(24,615.38)(2,010,084.13)0.00
Purchase 04/23/2026 90LAIF$00 9,600,000.00
Local Agency
Investment Fund State
Pool
1.000 3.81%(9,600,000.00)0.00 (9,600,000.00)0.00
Purchase 05/11/2026 46647PFL5 1,100,000.00 JPMORGAN CHASE &
CO 4.408 04/23/2030 99.643 4.52%(1,096,073.00)(2,424.40)(1,098,497.40)0.00
Purchase 05/13/2026 743315BC6 1,100,000.00 PROGRESSIVE CORP
4.6 03/26/2031 99.991 4.60%(1,099,901.00)(6,606.11)(1,106,507.11)0.00
Purchase 05/15/2026 14913V2C1 1,100,000.00
CATERPILLAR
FINANCIAL SERVICES
CORP 4.3 05/15/2029
99.897 4.34%(1,098,867.00)0.00 (1,098,867.00)0.00
Purchase 05/18/2026 912797UP0 1,000,000.00 UNITED STATES
TREASURY 07/14/2026 99.431 3.66%(994,311.88)0.00 (994,311.88)0.00
Purchase 05/31/2026 90LAIF$00 4,000,000.00
Local Agency
Investment Fund State
Pool
1.000 3.81%(4,000,000.00)0.00 (4,000,000.00)0.00
Purchase 06/18/2026 74340XCU3 1,100,000.00 PROLOGIS LP 4.25
06/15/2031 98.314 4.63%(1,081,454.00)(7,142.36)(1,088,596.36)0.00
Purchase 06/18/2026 91282CQU8 1,750,000.00
UNITED STATES
TREASURY 4.125
05/31/2031
99.805 4.17%(1,746,582.03)(3,550.20)(1,750,132.23)0.00
Purchase 06/26/2026 38141GC93 1,100,000.00
GOLDMAN SACHS
GROUP INC 5.218
04/23/2031
101.354 4.82%(1,114,894.00)(10,044.65)(1,124,938.65)0.00
Total Purchase 23,850,000.00 (23,817,551.66)(54,383.10)(23,817,551.66)0.00
TOTAL
ACQUISITIONS 23,850,000.00 (23,817,551.66)(54,383.10)(23,817,551.66)0.00
29
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TRANSACTION LEDGER
City of Tustin Cons Account | Account #10795|04/01/2026 Through 06/30/2026|
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp
Yield Amount Interest Pur/
Sold Total Amount Gain/Loss
DISPOSITIONS
Maturity 04/21/2026 912797TJ6 (2,000,000.00)UNITED STATES
TREASURY 04/21/2026 100.000 3.63%2,000,000.00 0.00 2,000,000.00 0.00
Maturity 05/03/2026 00440EAV9 (1,000,000.00)CHUBB INA HOLDINGS
LLC 3.35 05/03/2026 100.000 1.13%1,000,000.00 0.00 1,000,000.00 0.00
Maturity 05/12/2026 023135BX3 (1,000,000.00)AMAZON.COM INC 1.0
05/12/2026 100.000 1.10%1,000,000.00 0.00 1,000,000.00 0.00
Maturity 05/13/2026 808513BR5 (1,000,000.00)CHARLES SCHWAB
CORP 1.15 05/13/2026 100.000 0.98%1,000,000.00 0.00 1,000,000.00 0.00
Maturity 05/15/2026 91324PEC2 (1,000,000.00)UNITEDHEALTH GROUP
INC 1.15 05/15/2026 100.000 1.00%1,000,000.00 0.00 1,000,000.00 0.00
Maturity 06/16/2026 912797UA3 (1,750,000.00)UNITED STATES
TREASURY 06/16/2026 100.000 3.68%1,750,000.00 0.00 1,750,000.00 0.00
Total Maturity (7,750,000.00)7,750,000.00 0.00 7,750,000.00 0.00
Sale 04/02/2026 90CAMP$00 (1,000,000.00)CAMP 1.000 3.78%1,000,000.00 0.00 1,000,000.00 0.00
Sale 04/30/2026 90CAMP$00 (1,500,000.00)CAMP 1.000 3.78%1,500,000.00 0.00 1,500,000.00 0.00
Sale 06/04/2026 90CAMP$00 (1,000,000.00)CAMP 1.000 3.77%1,000,000.00 0.00 1,000,000.00 0.00
Sale 06/11/2026 90CAMP$00 (2,000,000.00)CAMP 1.000 3.77%2,000,000.00 0.00 2,000,000.00 0.00
Sale 06/18/2026 90CAMP$00 (4,000,000.00)CAMP 1.000 3.77%4,000,000.00 0.00 4,000,000.00 0.00
Sale 06/25/2026 78016EZT7 (1,000,000.00)
ROYAL BANK OF
CANADA 1.15
07/14/2026
99.846 1.17%998,460.00 5,143.06 1,003,603.06 (1,530.45)
Total Sale (10,500,000.00)10,498,460.00 5,143.06 10,503,603.06 (1,530.45)
TOTAL
DISPOSITIONS (18,250,000.00)18,248,460.00 5,143.06 18,253,603.06 (1,530.45)
30
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IMPORTANT DISCLOSURES
2026 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.
Information contained herein is confidential. Prices are provided by ICE Data Services Inc (“IDS”), an independent pricing source. In the event IDS does not provide a price or if the
price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation
policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.
Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include
the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any
specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors,
market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.
Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or
custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not
possible to invest directly in an index.
Source ICE Data Indices, LLC (“ICE”), used with permission. ICE permits use of the ICE indices and related data on an “as is” basis; ICE, its affiliates and their respective third party
suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use,
including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliates or their respective third party providers guarantee the
quality, adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof
are provided on an “as is” basis and licensee’s use it at licensee’s own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend chandler
asset management, or any of its products or services.
This report is provided for informational purposes only and should not be construed as a specific investment or legal advice. The information contained herein was obtained from
sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice. Any opinions or views expressed are based on
current market conditions and are subject to change. This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied
upon as indicator of future results. Past performance is not indicative of future results. This report is not intended to constitute an offer, solicitation, recommendation or advice
regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment.
Fixed income investments are subject to interest, credit and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise. Credit risk: the
possibility that the borrower may not be able to repay interest and principal. Low rated bonds generally have to pay higher interest rates to attract investors willing to take on
greater risk. Market risk: the bond market in general could decline due to economic conditions, especially during periods of rising interest rates.
Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee
its accuracy.
Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency
guarantees the full and timely payment of both principal and interest.
LGIP Yields: Reported yields for local government investment pools may be presented as either the 30-day yield or the monthly distribution yield, as applicable. For certain funds,
the 30-day yield is calculated using reported daily yield data. Yield calculations are subject to change and may not be directly comparable across funds.
LAIF Yields: Additional Disclosure for CA Clients - As a result of a reporting lag from the Local Agency Investment Fund (LAIF), reported LAIF yields represent the most recently
available Daily Effective Yield and may reflect data from approximately 7–10 days prior to month-end.
31
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BENCHMARK DISCLOSURES
Benchmark Disclosure
ICE BofA 1-5 Yr Unsubordinated US
Treasury & Agency Index
The ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and
nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based
on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less
than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a
minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies.
ICE BofA 1-3 Yr US Treasury & Agency
Index
The ICE BofA 1-3 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated
US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of
Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than three years
remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount
outstanding of $1 billion for sovereigns and $250 million for agencies.
32
Docusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D
CITY OF TUSTINMonthly Investment ReportJune 30, 2026[1][2] [3] [4] [5]Description / Limits Face Amount Shares YTM@Cost Credit Rating Cost Value + Accrued InterestMarket Value2016 Successor Agency Tax Allocation Bonds, Refunding 5,941.70 N/A 5,941.70 5,941.702016 Water Revenue Bonds, Refunding 5.89 N/A 5.89 5.892020 Water Revenue Bonds 5.98 N/A 5.98 5.982024 Water Revenue Bonds 1,320,950.34 N/A 1,320,950.34 1,320,950.34CFD 04-1 1,286,101.85 N/A 1,286,101.85 1,286,101.85CFD 07-1 2,210,220.76 N/A 2,210,220.76 2,210,220.76CFD 06-1/2014-1 Refunding 2025 5,956,905.95 N/A 5,956,905.95 5,956,905.9510,780,132.47 10,780,132.47 10,780,132.47Restricted Deposits with Fiscal Agents TOTAL 10,780,132.47 10,780,132.47 Restricted Deposits with Fiscal AgentsDocusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D
CITY OF TUSTIN
PARS Post-Employment Benefits Trust 6/1/2026 to 6/30/2026
Aldo Schindler
City Manager
City of Tustin
300 Centennial Way
Tustin, CA 92780
Account Summary
Source 6/1/2026 Contributions Earnings Expenses Distributions Transfers 6/30/2026
OPEB 1001 $6,444,801.96 $0.00 $4,846.67 $2,164.18 $0.00 $0.00 $6,447,484.45
PENSION 1002 $21,949,348.78 $0.00 $16,488.95 $7,370.97 $0.00 $0.00 $21,958,466.76
Totals $28,394,150.74 $0.00 $21,335.62 $9,535.15 $0.00 $0.00 $28,405,951.21
Investment Selection
Source
OPEB
PENSION
Investment Objective
Source
OPEB
PENSION
Investment Return
Source 1-Month 3-Months 1-Year 3-Years 5-Years 10-Years
OPEB 0.08%7.18%13.50%11.71%5.78%-6/26/2018
PENSION 0.08%7.18%13.50%11.72%5.79%-6/26/2018
Information as provided by US Bank, Trustee for PARS; Not FDIC Insured; No Bank Guarantee; May Lose Value
Headquarters - 4350 Von Karman Ave., Suite 100, Newport Beach, CA 92660 800.540.6369 Fax 949.250.1250 www.pars.org
Account balances are inclusive of Trust Administration, Trustee and Investment Management fees
Annualized Return
Investment Return: Annualized rate of return is the return on an investment over a period other than one year multiplied or divided to give a comparable one-year return.
Past performance does not guarantee future results. Performance returns may not reflect the deduction of applicable fees, which could reduce returns. Information is deemed reliable but may be subject to change.
Individual account based on Moderate - Index. The dual goals of the Moderate Strategy are growth of principal and income. It is expected that dividend and interest
income will comprise a significant portion of total return, although growth through capital appreciation is equally important. The portfolio will be allocated between
equity and fixed income investments.
Account Report for the Period
Balance as of
City of Tustin - OPEB
Balance as of
Individual account based on Moderate - Index. The dual goals of the Moderate Strategy are growth of principal and income. It is expected that dividend and interest
income will comprise a significant portion of total return, although growth through capital appreciation is equally important. The portfolio will be allocated between
equity and fixed income investments.
City of Tustin - Pension
Plan's Inception Date
Docusign Envelope ID: B3CA5FE0-27D5-8F26-8321-8D14214E4F7D