Item 03 - Investment Report for the Month Ended in June 30, 2019AGENDA ITEM NO.3
AGENDA STAFF REPORT
City of West Covina I Office of the City Manager
DATE: August 20, 2019
TO: Mayor and City Council
FROM: David Carmany
Interim City Manager
SUBJECT: INVESTMENT REPORT FOR THE MONTH ENDED JUNE 30, 2019
RECOMMENDATION:
It is recommended that the City Council receive and file the Investment Report for the month ended June 30, 2019.
DISCUSSION:
The Investment Report (Attachment No. 1) presents the City's and the Successor Agency's cash and investments
for the month ended June 30, 2019. This report is in compliance with California Government Code Section 53646
regarding the reporting of detailed information on all securities, investments, and monies of the City, as well as,
reporting of the market value of the investments held. All investments contained within the portfolio are in full
compliance with Government Code Section 53601 and the City's Investment Policy as to the types of investments
allowed. The City's Investment Policy was last revised and adopted by City Council on July 2, 2019. As stated in
the attached report, there are sufficient funds to meet the budgeted expenditures over the next six months.
The City's Investment Policy has set primary goals of the portfolio management of safety, liquidity and yield. The
City's surplus funds are with the Los Angeles County Investment Pool (LACIP) and Chandler Asset Management.
At June 30, 2019, the investment portfolio had a market value of $74,731,341.
Bond reserves are held and invested by a Trustee. The investment of these funds is governed by an investment
policy approved by the City Council as a part of the governing documents for each specific bond issue. At June 30,
2019, the bond reserves had a market value of $6,834,023.
Prepared by: Todd H. Owens, Accounting Manager
Additional Approval: Robbeyn Bird, CPA, Interim Finance Director
Attachments
Attachment No. 1 - June 30, 2019 Investment Report
Chandler Report - June 30, 2019
City of West Covina
Investment Report
For the Month Ended June 30, 2019
Interest/
Yield to
Maturity
%of
Description
Book Value
Market Value
Maturity
Date
Portfolio
Cash and Cash Equivalents
Wells Fargo Checking Account
$ 12,379,545
$ 12,379,545
0.00%
n/a
15.18%
Pacific Western Bank Checking - HPP (CDBG)
3,559
3,559
0.00%
n/a
0.00%
Pacific Western Bank Checking - HPP (LMIHF)
684
684
0.00%
n/a
0.00%
Los Angeles County Investment Pool(LACIP)
37,383,107
37,383,107
2.19%
n/a
45.83%
Money Market Fund - Bank of the West
505,558
505,558
0.63%
n/a
0.62%
Wells Fargo Checking Account - CFD
1,833,407
1,833,407
0.00%
n/a
2.25%
Los Angeles County Investment Pool (LACIP) - Successor Agency
1,574,469
1,574,469
2,19%
rue
1.93%
Investments - Chandler Asset Management
Asset -Backed Securities
510,040
511,427
2.35%
See attached
0.63%
Federal Agencies
7,264,774
7,220,215
1.98%
See attached
8.85%
Collateralized Mortgage Obligation
151,710
152,264
2.15%
See attached
0.19%
Money Market Funds
479,993
479,993
1.99%
See attached
0.59%
Supmnationals
2,176,745
2,173,931
2.02%
See attached
2.67%
US Corporate
5,126,195
5,114,025
2.20%
See attached
6.27%
US Treasury
5,416,246
5,399,157
1.89%
See attached
6.62%
Total Cash and Investments
$ 74,796,032
$ 74,731,341
Bond Reserves
Lease Revenue Bonds, 2006 Series A & 2006 Series B (Taxable)
First American Treasury Obligations Fund Class D
First American Treasury Obligations Fund Class D
1996 Special Tax Refunding Bonds - Successor Agency
Westdeutsche Landesbank Girozentrale Investment Agmt
First American Treasury Obligations Fund Class D
Total Bond Reserves
$ 1,071,000 $ 1,071,000 1.79% n/a 1.31%
585,372 585,372 1.79% n/a 0.72%
5,002,697 5,002,697 7.01% 9/1/2022 6.13%
174,954 174,954 1.79% n/a 0.21%
$ 6,834,023 $ 6,834,023
Total Investment Portfolio $ 81,630,055 $ 81,665,364 100,00%
Blended Yield of Cash and Investments' 2.12%
Benchmarks:
LAIF
2.39%
LACIP
2,19%
6mo U.S. Treasury
2.09%
2yr U.S. Treasury
1.75%
5yr U.S. Treasury
1,76%
`To ensure timely submission of the Investment Report, the prior month's LACIP percentage yield is used.
I hereby certify that the investments are in compliance with the investment policy adopted by the City Council. The investment portfolio provides
sufficient funds to meet the budgeted expenditures over the next six months. This report meets the requirements of Government Code Section
53646.
PREPARED BY:
REVI D BY:
odd H. Owens - Accounting Manager
Colleen B. Rozatti - City Treasur
APPROVED BY:
Robbeyn Bird - Interim Finance Director
CA.
City of West Covina Short Term - Account #10479
MONTHLY ACCOUNT STATEMENT
JUNE 11 2019 THROUGH JUNE 30, 2019
Chandler Team:
For questions about your account, please call (800) 317-4747,
or contact operations@chandlerasset.com
Custodian
US Bank
Christopher Isles
(503)464-3685
CHANDLER ASSET MANAGEMENT
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.
City of West Covina Short Term Portfolio Summary
Account #10479 As of June 30, 2019 C11%
PORTFOLIO CHARACTERISTICS
Average Modified Duration
1.19
Average Coupon
1.71%
Average Purchase YTM
1.50%
Average Market YTM
2.03%
Average S&P/Moody Rating
AA+/Aa1
Average Final Maturity
1.26 yrs
Average Life
1.22 yrs
SECTOR ALLOCATION
A,.n , 34.3%
Us T,e.ourr 25.6%
Us Coro 24.3%
supr�_ 10.3%
ABS 2.4%
Money Mkt Fd, 2.3%
CMOI 0.7%
PERFORMANCE REVIEW
ACCOUNT SUMMARY
Beg. Values
End Values
as of 5/31/19
as of 6/30/19
Market Value
20,962,306
21,051,012
Accrued Interest
88,545
87,509
Total Market Value
21,050,851
21,138,521
Income Earned
28,396
28,262
Cont/WD
-1,801
Par
21,054,622
21,085,863
Book Value
21,088,206
21,115,703
Cost Value
21,224,379
21,247,237
MATURITY DISTRIBUTION
0-.25 .25-5 .5-1 1-2 2-3 3-4 4-5 5+
Maturity (Yrs)
TOP ISSUERS
Government of United States
25.6%
Federal National Mortgage Assoc
16.7%
Federal Home Loan Mortgage Corp
11.7%
Federal Home Loan Bank
6.6%
International Finance Corp
5.6%
Inter -American Dev Bank
4.7%
Microsoft
2.9%
Bank of New York
2.4%
Total
76.2%
CREDIT QUALITY (S&P)
AA (65.6%)
A (15 7%)
%1
Annualized
TOTAL RATE OF RETURN
1M 3M YTD 1YR
2YRS 3YRS
5YR5
10YRS
7/31/2016
City of West Covina Short Term
0.43% 1.15% 2.18% 3.68%
2.07% N/A
N/A
N/A
1.52%
ICE BAML 1-3 Yr US Treasury/Agency Index
0.51% 1.43% 2.43% 3.96%
2.01% N/A
N/A
N/A
1.36%
Chandler Asset Management - CONFIDENTIAL Page 1 Execution Time: 7/1/201910:44:17 PM
Statement of Compliance
As of June 30, 2019
City of West Covina
Assets managed by Chandler Asset Management are in full compliance with state law and the District's investment policy.
Category
Standard
Comment
Treasury Issues
No limitations
Complies
Federal Agencies
No limitations
Complies
Municipal Securities
"A" or higher by a NRSRO; 30% maximum; 5% max per issuer
Complies
Supranationals
"AA" rated or higher by a NRSRO; 30% max; 10% max per issuer; Unsubordinated obligations issued by: IBRD, IFC, IADB
Complies
Medium Term Notes
"A" rated or higher by a NRSRO; 30% maximum; 5% max per issuer; Issued by corporations organized and operating within
Complies
the U.S.
Collateralized Certificates of Deposit
25%maximum
Complies
Negotiable Certificates of Deposit
"A" rated or better by a NRSRO; 30% maximum
Complies
Banker's Acceptances
40% maximum; 30% max per one commercial bank; 180 days max maturity
Complies
Commercial Paper
A-1/P-1 rating or higher by both S&P and Moody's; 25% maximum; 5% per issuer; 270 days max maturity; Eligible paper is
Complies
limited to corporations organized and operating within the U.S. with total assets of at least $500 million
Asset -Backed Securities/ Mortgage-
"AA" or better by a NRSRO; "A" rated issuer rating or higher by a NRSRO; 20% maximum
Complies
Backed Securities
Money Market Mutual Funds
"AAA" rated or highest rating by a NRSRO; 20% maximum; 10% per fund
Complies
Prohibited Securities
Inverse floaters; Ranges notes, Interest -only strips from mortgaged backed securities; Zero interest accrual securities;
Complies
Reverse Repurchase Agreements
Repurchase Agreements
20% maximum; 100 days max maturity; collateralized 102%of market value; Not used by investment adviser
Complies
Local Agency Investment Fund (LAIF)
Maximum program; Not used by investment adviser
Complies
Los Angeles County Investment Pool
Maximum program; Not used by investment adviser
Complies
Max per Security Type
No more than 40%of the City's total portfolio shall be invested in a single security type or with a single financial institution
Complies
Max per Issuer
No more than 5% in any single issuer except US Gov, Agencies, Supranationals, Money Market Funds, LAIF, or LGIP
Complies
Maximum Maturity
5 years
Complies
GIR
City of West Covina Short Term
Account#10479
BEGINNING BOOK VALUE
Acquisition
+Security Purchases
+ Money Market Fund Purchases
+ Money Market Contributions
+Security Contributions
+ Security Transfers
Total Acquisitions
Dispositions
- Security Sales
- Money Market Fund Sales
- MMF Withdrawals
- Security Withdrawals
- Security Transfers
- Other Dispositions
- Maturites
- Calls
- Principal Paydowns
Total Dispositions
Amortization/Accretion
+/- Net Accretion
Gain/Loss on Dispositions
+/- Realized Gain/Loss
ENDING BOOK VALUE
Chandler Asset Management -CONFIDENTIAL
Reconciliation Summary
As of June 30, 2019
$21,088,205.86
$0.00
$463,415.89
$0.00
$0.00
$0.00
$463,415.89
$0.00
$0.00
$1,800.97
$0.00
$0.00
$0.00
$375,000.00
$0.00
$55,374.31
BEGINNING BALANCE
Acquisition
Contributions
Security Sale Proceeds
Accrued Interest Received
Interest Received
Dividend Received
Principal on Maturities
Interest on Maturities
Calls/Redemption (Principal)
Interest from Calls/Redemption
Principal Paydown
Total Acquisitions
$2,227
Dispositions
Withdrawals $1,800.97
Security Purchase $0.00
Accrued Interest Paid $0.00
Total Dispositions $1,800.97
$432,175.28 ENDING BOOK VALUE
($3,743.11)
($3,743.11)
$0.00
$0.00
$21,115,703.36
Page 3
Q11
$18,378.23
$479,993.15
Execution Time: 7/1/201910:44:17 PM
City of West Covina short Term
Account#10479
Holdings Report
As of June 30, 2019
cap
89237RAB4
Toyota Auto Receivable 2017-C A2A
38,126.74
07/25/2017
38,126.38
99.93
38,099.20
0.18%
Aaa / AAA
1.04
1.58% Due 7/15/2020
1.59%
38,126.62
2.60%
26.78
(27.42)
NR
0.07
89238BABB
Toyota Auto Receivables Owner 2018-A
65,031.81
01/23/2018
65,025.16
99.93
64,985.56
0.31%
Aaa / AAA
1.30
A2A
2.12%
65,028.63
2.49%
60.70
(43.07)
NR
0.19
2.1% Due 10/15/2020
47788CAB8
John Deere Owner Trust 2018-A A2
56,339.14
Various
56,280.69
99.99
56,334.62
0.27%
Aaa / NR
1.30
2.42% Due 10/15/2020
2.51%
56,309.81
2.48%
60.60
24.81
AAA
0.17
43811BAC8
Honda Auto Receivables 2017-2 A3
78,003.81
04/27/2018
76,791.10
99.71
77,780.25
0.37%
Aaa / AAA
2.13
1.68%Due 8/16/2021
2.62%
77,221.19
2.16%
58.24
559.06
NR
0.60
43814WAB1
HAROT 2019-1 A2
195,000.00
02/19/2019
194,987.44
100.36
195,703.56
0.93%
NR / AAA
2.23
2.75% Due 9/20/2021
2.77%
194,989.10
2.35%
193.65
714.46
AAA
0.87
47788BAD6
John Deere Owner Trust 2017-B A3
28,368.36
07/11/2017
28,366.28
99.74
28,295.42
0.13%
Aaa / NR
2.30
1.82% Due 10/15/2021
1.83%
28,367.24
2.27%
22.95
(71.82)
AAA
0.58
47788CAC6
John Deere Owner Trust 2016-B A4
50,000.00
02/21/2018
49,996.41
100.46
50,229.00
0.24%
Aaa / NR
2.80
2.66% Due 4/18/2022
2.68%
49,997.57
2.21%
59.11
231.43
AAA
0.97
509,573.46
511,427.61
2.42%
Aaa/AAA
1.96
Total ABS
510,869.86
2.49%
510,040.16
2.35%
482.03
1,387.45
AAA
0.60
AGENCY
3137EADK2
FHLMC Note
565,000.00
07/29/2016
570,938.15
99.92
564,526.53
2.68%
Aaa / AA+
0.09
1.25%Due 8/1/2019
0.89%
565,167.66
2.21%
2,942.71
(641.13)
AAA
0.09
3135GOP49
FNMA Note
700,000.00
09/02/2016
698,782.00
99.81
698,671.40
3.32%
Aaa /AA+
0.16
1% Due 8/28/2019
1.06%
699,934.96
2.14%
2,352.78
(1,263.56)
AAA
0.17
3137EADM8
FHLMC Note
700,000.00
08/05/2016
706,153.00
99.76
698,302.50
3.31%
Aaa / AA+
0.26
1.25% Due 10/2/2019
0.97%
700,497.60
2.20%
2,163.20
(2,195.10)
AAA
0.25
3137EAEE5
FHLMC Note
350,000.00
01/12/2017
349,622.00
99.65
348,759.25
1.66%
Aaa / AA+
0.55
1.5% Due 1/17/2020
1.54%
349,930.96
2.15%
2,391.67
(1,171.71)
AAA
0.54
3135GOA78
FNMA Note
350,000.00
10/14/2016
355,204.50
99.74
349,094.90
1.66%
Aaa /AA+
0.56
1.625%Due 1/21/2020
1.16%
350,891.45
2.09%
2,527.78
(1,796.55)
AAA
0.55
3137EADR7
FHLMC Note
350,000.00
06/29/2017
348,015.50
99.43
348,001.50
1.65%
Aaa / AA+
0.84
1.375% Due 5/1/2020
1.58%
349,415.76
2.07%
802.08
(1,414.26)
AAA
0.82
313383HU8
FHLB Note
350,000.00
Various
358,197.50
99.75
349,118.00
1.65%
Aaa /AA+
0.95
1.75% Due 6/12/2020
1.12%
352,051.01
2.02%
323.27
(2,933.01)
NR
0.94
Chandler Asset Management - CONFIDENTIAL
Page 4
Execution Time:
7/1/2019 10:44:17 PM
City of West
Covina Short Term
Holdings Report
Account #10479
As of June
30, 2019
CUSIP
Security Description
Par Value/Units
Purchase Date
Cost Value
Mkt Price
Market Value
% of Port.
Moody/S&P Maturity
Book Yield
Book Value
Mkt YTIVI
Accrued Int.
Gain/Loss
Fitch Duration
AGENCY
3135GOD75
FNMA Note
700,000.00
07/29/2016
712,474.00
99.49
696,427.90
3.30%
Aaa /AA+
0.98
1.5% Due 6/22/2020
1.03%
703,127.26
2.03%
262.50
(6,699.36)
AAA
0.96
3135GOF73
FNMA Note
350,000.00
07/29/2016
355,939.50
99.51
348,283.25
1.65%
Aaa /AA+
1.42
1.5% Due 11/30/2020
1.10%
351,941.11
1.85%
452.08
(3,657.86)
AAA
1.39
313OA7CV5
FHLB Note
350,000.00
07/29/2016
353,846.50
99.27
347,430.30
1.65%
Aaa / AA+
1.64
1.375% Due 2/18/2021
1.13%
351,381.51
1.83%
1,777.95
(3,951.21)
AAA
1.60
3135GOK69
FNMA Note
350,000.00
07/22/2016
349,744.50
98.97
346,404.10
1.64%
Aaa /AA+
1.85
1.25% Due 5/6/2021
1.27%
349,901.17
1.82%
668.40
(3,497.07)
AAA
1.81
313379RB7
FHLB Note
350,000.00
08/15/2017
351,802.50
100.03
350,092.75
1.66%
Aaa / AA+
1.95
1.875% Due 6/11/2021
1.73%
350,918.69
1.86%
364.58
(825.94)
AAA
1.90
313OA8QS5
FHLB Note
350,000.00
08/19/2016
347,452.00
98.75
345,638.30
1.64%
Aaa / AA+
2.04
1.125% Due 7/14/2021
1.28%
348,939.17
1.75%
1,826.56
(3,300.87)
AAA
1.99
3137EAEC9
FHLMC Note
350,000.00
08/19/2016
346,720.50
98.58
345,024.40
1.64%
Aaa / AA+
2.12
1.125%Due 8/12/2021
1.32%
348,604.05
1.81%
1,520.31
(3,579.65)
AAA
2.07
3135GOS38
FNMA Note
725,000.00
Various
728,871.25
100.52
728,803.35
3.48%
Aaa /AA+
2.52
2% Due 1/5/2022
1.88%
727,102.82
1.79%
7,088.89
1,700.53
AAA
2.42
3135GOT45
FNMA Note
355,000.00
06/19/2017
354,946.40
100.18
355,636.16
1.69%
Aaa /AA+
2.77
1.875% Due 4/5/2022
1.88%
354,969.10
1.81%
1,590.10
667.06
AAA
2.67
7,288,709.80
7,220,214.59
34.29%
Aaa / AA+
1.20
Total Agency
7,245,000.00
1.28%
7,254,774.28
1.98%
29,054.86
(34,559.69)
AAA
1.17
CMO
3137BFDQ1
FHLMC K717 A2
150,000.00
01/04/2018
152,835.94
101.51
152,263.80
0.72%
NR/NR
2.24
2.991%Due 9/25/2021
2.37%
151,709.94
2.15%
373.88
553.86
AAA
1.96
152,835.94
152,263.80
0.72%
NR/NR
2.24
Total CMO
150,000.00
2.37%
151,709.94
2.15%
373.88
553.86
AAA
1.96
Chandler Asset Management - CONFIDENTIAL Page 5 Execution Time: 7/1/201910:44:17 PM
City of West Covina Short Term
Holdings Report
Account #10479
As of June 30, 2019
CUSIP Security Description
Date
Cost Value
Mkt Price
Market Value
% of Port.
Moody/S&P Maturity
Yield
Book Value
Mkt YTIVI
Accrued Int.
Gain/Loss
Fitch
DurationBook
MONEY MARKET FUND FI
31846V203 First American Govt Obligation Fund
479,993.15
Various
479,993.15
1.00
479,993.15
2.27%
Aaa / AAA
0.00
Class Y
1.99%
479,993.15
1.99%
0.00
0.00
AAA
0.00
479,993.15
479,993.15
2.27%
Aaa / AAA
0.00
Total Money Market Fund FI
479,993.15
1.99%
479,993.15
1.99%
0.00
0.00
AAA
0.00
SUPRANATIONAL -
1
45950KCDO International Finance Corp Note
700,000.00
08/05/2016
715,554.00
99.89
699,244.00
3.32%
Aaa / AAA
0.21
1.75% Due 9/16/2019
1.02%
701,056.14
2.25%
3,572.92
(1,812.14)
NR
0.21
4581XOCX4 Inter -American Dev Bank Note
290,000.00
04/05/2017
289,312.70
99.62
288,885.82
1.37%
Aaa/AAA
0.87
1.625% Due 5/12/2020
1.70%
289,807.12
2.07%
641.42
(921.30)
AAA
0.85
4581XOCD8 Inter -American Dev Bank Note
350,000.00
08/05/2016
363,261.50
100.25
350,868.00
1.66%
Aaa/AAA
1.36
2.125% Due 11/9/2020
1.21%
354,241.29
1.94%
1,074.31
(3,373.29)
AAA
1.33
45950KCMO International Finance Corp Note
215,000.00
01/18/2018
214,367.90
100.53
216,137.35
1.03%
Aaa / AAA
1.58
2.25% Due 1/25/2021
2.35%
214,668.96
1.91%
2,096.25
1,468.39
NR
1.52
45950KCI7 International Finance Corp Note
275,000.00
11/09/2016
268,576.00
98.56
271,044.95
1.29%
Aaa / AAA
2.06
1.125%Due 7/20/2021
1.64%
272,187.39
1.84%
1,383.59
(1,142.44)
NR
2.01
4581XOCW6 Inter -American Dev Bank Note
345,000.00
01/10/2017
344,575.65
100.80
347,751.03
1.66%
Aaa / NR
2.56
2.125% Due 1/18/2022
2.15%
344,783.41
1.80%
3,319.43
2,967.62
AAA
2.45
2,195,647.75
2,173,931.15
10.34%
Aaa/AAA
1.23
Total Supranational
2,175,000.00
1.53%
2,176,744.31
2.02%
12,087.92
(2,813.16)
AAA
1.19
US CORPORATE
594918BN3 Microsoft Note
410,000.00
08/01/2016
409,577.70
99.88
409,512.10
1.95%
Aaa/AAA
0.11
1.1% Due 8/8/2019
1.14%
409,985.34
2.22%
1,791.47
(473.24)
AA+
0.11
084664CK5 Berkshire Hathaway Note
205,000.00
08/08/2016
204,801.15
99.88
204,758.51
0.97%
Aa2 / AA
0.13
1.3% Due 8/15/2019
1.33%
204,991.83
2.23%
1,006.78
(233.32)
A+
0.12
06406HCW7 Bank of New York Callable Note Cont
500,000.00
Various
514,405.00
100.00
500,013.50
2.38%
Al/A
0.20
8/11/2019
1.36%
500,908.30
2.27%
3,513.90
(894.80)
AA-
0.11
2.3% Due 9/11/2019
Chandler Asset Management - CONFIDENTIAL Page 6 Execution Time: 7/1/201910:44:17 PM
City of West Covina Short Term
Account#10479
Holdings Report
As of June 30, 2019
cap
CUSIP
Security Description
Par Value/Units
Purchase Date
Cost Value
Mkt Price
Market Value
% of Port.
Moody/S&P Maturity
Yield
Book Value
Mkt YTM
Accrued Int.
Gain/Loss
Fitch
DurationBook
US CORPORATE
68389XAX3
Oracle Corp Note
250,000.00
08/09/2016
257,177.50
100.01
250,017.25
1.19%
Al/AA-
0.27
2.25% Due 10/8/2019
1.32%
250,616.82
2.21%
1,296.88
(599.57)
A
0.27
46625HKA7
JP Morgan Chase Callable Note Cont
445,000.00
08/26/2016
451,363.50
99.97
444,863.83
2.13%
A2 / A-
0.57
12/23/2019
1.81%
446,057.16
2.30%
4,394.38
(1,193.33)
AA-
0.55
2.25% Due 1/23/2020
94974BGF1
Wells Fargo Corp Note
250,000.00
07/15/2016
254,060.00
99.91
249,765.25
1.19%
A2 / A-
0.59
2.15% Due 1/30/2020
1.67%
250,670.89
2.31%
2,254.51
(905.64)
A+
0.57
22160KAGO
Costco Wholesale Corp Note
150,000.00
11/01/2016
150,873.00
99.61
149,413.20
0.71%
Aaa / A+
0.63
1.75%Due 2/15/2020
1.57%
150,166.88
2.38%
991.67
(753.68)
NR
0.61
747525AD5
Qualcomm Inc Note
500,000.00
07/26/2016
513,955.00
99.97
499,837.00
2.37%
A2/A-
0.89
2.25% Due 5/20/2020
1.49%
503,250.48
2.29%
1,281.26
(3,413.48)
NR
0.87
437076130,4
Home Depot Note
90,000.00
05/24/2017
89,947.80
99.65
89,687.52
0.42%
A2 / A
0.93
1.8% Due 6/5/2020
1.82%
89,983.81
2.18%
117.00
(296.29)
A
0.92
00440EAT4
Chubb INA Holdings Inc Callable Note
390,000.00
02/06/2017
391,836.90
100.04
390,166.92
1.85%
A3 / A
1.35
Cont 10/3/2020
2.17%
390,661.71
2.26%
1,445.16
(494.79)
A
1.23
2.3% Due 11/3/2020
44932HAG8
IBM Credit Corp Note
250,000.00
02/14/2018
248,662.50
100.55
251,381.50
1.20%
Al/A
1.61
2.65% Due 2/5/2021
2.84%
249,278.86
2.29%
2,686.81
2,102.64
A
1.54
0378338S8
Apple Inc Callable Note Cont 1/23/2021
250,000.00
08/19/2016
257,375.00
100.36
250,893.00
1.20%
Aal/AA+
1.65
2.25% Due 2/23/2021
1.57%
252,705.06
2.02%
2,000.00
(1,812.06)
NR
1.52
30231GAV4
Exxon Mobil Corp Callable Note Cont
250,000.00
07/11/2016
258,810.00
100.28
250,692.75
1.19%
Aaa / AA+
1.67
2/1/2021
1.43%
253,172.85
2.05%
1,851.67
(2,480.10)
NR
1.62
2.222% Due 3/1/2021
166764BG4
Chevron Corp Callable Note Cont
250,000.00
08/16/2016
255,022.50
100.09
250,219.00
1.19%
Aa2 / AA
1.88
4/15/2021
1.66%
251,987.53
2.05%
656.25
(1,768.53)
NR
1.75
2.1% Due 5/16/2021
857477AV5
State Street Bank Note
250,000.00
08/26/2016
252,750.00
99.74
249,348.50
1.18%
Al / A
1.89
1.95% Due 5/19/2021
1.71%
251,098.72
2.09%
568.75
(1,750.22)
AA-
1.84
59491813138
Microsoft Callable Note Cont 7/8/21
200,000.00
08/26/2016
199,536.00
99.15
198,297.20
0.94%
Aaa / AAA
2.11
1.55%Due 8/8/2021
1.60%
199,802.10
1.96%
1,231.39
(1,504.90)
AA+
2.05
69371RN44
Paccar Financial Corp Note
225,000.00
01/25/2017
216,153.00
98.92
222,576.08
1.06%
Al / A+
2.12
1.65% Due 8/11/2021
2.57%
220,870.69
2.17%
1,443.75
1,705.39
NR
2.05
Chandler Asset Management - CONFIDENTIAL Page 7 Execution Time: 7/1/201910:44:17 PM
City of West
Covina Short Term
Holdings Report
Account #10479
As of June
30, 2019
CUSIP
Security Description
Par Value/Units
Purchase Date
Cost Value
Mkt Price
Market Value
% of Port.
Moody/S&P Maturity
Yield
Book Value
Mkt YTM
Accrued Int.
Gain/Loss
Fitch
DurationBook
US CORPORATE
69353RFE3
PNC Bank Callable Note Cont 6/28/2022
250,000.00
07/25/2017
249,977.50
101.03
252,582.00
1.21%
A2/A
3.08
2.45% Due 7/28/2022
2.45%
249,986.16
2.09%
2,603.13
2,595.84
A+
2.85
5,176,284.05
5,114,025.11
24.34%
Al/A+
1.10
Total US Corporate
5,115,000.00
1.71%
5,126,195.19
2.20%
31,134.76
(12,170.08)
AA-
1.04
US TREASURY'
'
91282SG95
US Treasury Note
750,000.00
07/25/2016
766,848.22
99.76
748,212.76
3.54%
Aaa /AA+
0.50
1.625% Due 12/31/2019
0.96%
752,460.68
2.11%
33.12
(4,247.92)
AAA
0.49
912828UL2
US Treasury Note
375,000.00
08/05/2016
380,992.47
99.59
373,476.75
1.78%
Aaa /AA+
0.59
1.375% Due 1/31/2020
0.91%
376,008.96
2.08%
2,150.81
(2,532.21)
AAA
0.58
91282SUVO
US Treasury Note
375,000.00
08/05/2016
377,799.11
99.34
372,539.25
1.77%
Aaa /AA+
0.75
1.125% Due 3/31/2020
0.92%
375,576.23
2.01%
1,060.45
(3,036.98)
AAA
0.74
91282SK58
US Treasury Note
225,000.00
06/27/2017
224,113.06
99.47
223,813.58
1.06%
Aaa /AA+
0.84
1.375% Due 4/30/2020
1.52%
224,739.99
2.01%
521.23
(926.41)
AAA
0.82
912828VF4
US Treasury Note
375,000.00
08/05/2016
380,391.88
99.42
372,832.13
1.77%
Aaa /AA+
0.92
1.375% Due 5/31/2020
0.99%
376,297.61
2.01%
436.73
(3,465.48)
AAA
0.91
9128281-99
US Treasury Note
250,000.00
12/14/2016
246,319.20
99.35
248,379.00
1.18%
Aaa /AA+
1.34
1.375% Due 10/31/2020
1.77%
248,731.48
1.87%
579.14
(352.48)
AAA
1.31
912828N48
US Treasury Note
250,000.00
01/24/2018
246,796.88
99.87
249,668.00
1.18%
Aaa /AA+
1.51
1.75% Due 12/31/2020
2.20%
248,358.06
1.84%
11.89
1,309.94
AAA
1.47
912828N89
US Treasury Note
375,000.00
08/11/2016
380,054.97
99.30
372,363.38
1.77%
Aaa / AA+
1.59
1.375% Due 1/31/2021
1.07%
376,795.40
1.83%
2,150.81
(4,432.02)
AAA
1.55
912828P87
US Treasury Note
350,000.00
06/27/2017
343,397.66
98.87
346,048.85
1.64%
Aaa / AA+
1.67
1.125% Due 2/28/2021
1.66%
347,006.55
1.81%
1,316.07
(957.70)
AAA
1.64
912828WN6
US Treasury Note
750,000.00
Various
766,555.25
100.43
753,222.76
3.57%
Aaa /AA+
1.92
2% Due 5/31/2021
1.51%
756,784.42
1.77%
1,270.50
(3,561.66)
AAA
1.87
912828576
US Treasury Note
250,000.00
05/30/2017
244,366.07
98.71
246,777.25
1.17%
Aaa / AA+
2.09
1.125% Due 7/31/2021
1.69%
247,183.04
1.76%
1,173.17
(405.79)
AAA
2.04
912828G87
US Treasury Note
165,000.00
06/29/2017
167,307.98
100.96
166,591.92
0.79%
Aaa /AA+
2.51
2.125% Due 12/31/2021
1.80%
166,282.37
1.73%
9.53
309.55
AAA
2.43
Chandler Asset Management - CONFIDENTIAL Page 8 Execution Time: 7/1/201910:44:17 PM
City of West Covina Short Term
Holdings Report
Account #10479
As of June 30, 2019
CUSIP Security Description
Par Value/Units
Purchase Date Cost Value
Mkt Price
Market Value
% of Port.
Moody/S&P Maturity
Yield Book Value
Mkt YTM
Accrued Int.
Gain/Loss
Fitch
DurationBook
USTREASURY
912828V72 US Treasury Note
200,000.00
07/25/2017 200,492.86
100.35
200,703.20
0.96%
Aaa/AA+
2.59
1.875% Due 1/31/2022
1.82% 200,282.27
1.74%
1,564.23
420.93
AAA
2.50
91282SJ43 US Treasury Note
355,000.00
03/13/2017 348,580.68
100.06
355,221.88
1.69%
Aaa/AA+
2.67
1.75% Due 2/28/2022
2.14% 351,551.08
1.73%
2,076.46
3,670.80
AAA
2.58
912828XGO US Treasury Note
365,000.00
08/15/2017 370,176.81
101.18
369,305.91
1.75%
Aaa/AA+
3.00
2.125%Due 6/30/2022
1.82% 368,188.19
1.72%
21.08
1,117.72
AAA
2.90
5,444,193.10
5,399,156.62
25.61%
Aaa/AA+
1.53
Total US Treasury
5,410,000.00
1.43% 5,416,246.33
1.89%
14,375.22
(17,089.71)
AAA
1.49
21,247,237.25
21,051,012.03
100.00%
Aal / AA+
1.26
TOTAL PORTFOLIO
21,085,863.01
1.50% 21,115,703.36
2.03%
87,508.67
(64,691.33)
AAA
1.19
TOTAL MARKET VALUE PLUS ACCRUED
21,138,520.70
Chandler Asset Management - CONFIDENTIAL Page 9 Execution Time: 7/1/201910:44:17 PM
City of West Covina Short Term
Transaction Ledger
OR
Account #10479
As of June 30, 2019
Transaction
Settlement
Acq/Disp
Interest
CUSIP
Quantity
Security Description
Price
Amount
Total Amount
Gain/Loss
Type
Date
Yield
Pur/Sold
ACQUISITIONS
Purchase
06/03/2019
31846V203
2,227.95
First American Govt Obligation Fund
1.000
2.01%
2,227.95
0.00
2,227.95
0.00
Class Y
Purchase
06/05/2019
31846V203
810.00
First American Govt Obligation Fund
1.000
2.01%
810.00
0.00
810.00
0.00
Class Y
Purchase
06/11/2019
31846V203
3,281.25
First American Govt Obligation Fund
1.000
2.01%
3,281.25
0.00
3,281.25
0.00
Class Y
Purchase
06/12/2019
31846V203
3,062.50
First American Govt Obligation Fund
1.000
2.01%
3,062.50
0.00
3,062.50
0.00
Class Y
Purchase
06/17/2019
31846V203
6,503.74
First American Govt Obligation Fund
1.000
2.01%
6,503.74
0.00
6,503.74
0.00
Class Y
Purchase
06/17/2019
31846V203
2,359.24
First American Govt Obligation Fund
1.000
2.01%
2,359.24
0.00
2,359.24
0.00
Class Y
Purchase
06/17/2019
31846V203
13,140.44
First American Govt Obligation Fund
1.000
2.01%
13,140.44
0.00
13,140.44
0.00
Class Y
Purchase
06/17/2019
31846V203
110.83
First American Govt Obligation Fund
1.000
2.01%
110.83
0.00
110.83
0.00
Class Y
Purchase
06/17/2019
31846V203
19,825.98
First American Govt Obligation Fund
1.000
2.01%
19,825.98
0.00
19,825.98
0.00
Class Y
Purchase
06/17/2019
31846V203
14,063.81
First American Govt Obligation Fund
1.000
2.01%
14,063.81
0.00
14,063.81
0.00
Class Y
Purchase
06/18/2019
31846V203
446.88
First American Govt Obligation Fund
1.000
2.01%
446.88
0.00
446.88
0.00
Class Y
Purchase
06/22/2019
31846V203
5,250.00
First American Govt Obligation Fund
1.000
2.01%
5,250.00
0.00
5,250.00
0.00
Class Y
Purchase
06/25/2019
31846V203
373.88
First American Govt Obligation Fund
1.000
2.01%
373.88
0.00
373.88
0.00
Class Y
Purchase
06/30/2019
31846V203
16,959.39
First American Govt Obligation Fund
1.000
1.99%
16,959.39
0.00
16,959.39
0.00
Class Y
Chandler Asset Management -CONFIDENTIAL
Page 10
Execution Time: 7/1/201910:44:17 PM
City of West
Covina Short Term
Transaction Ledger
OR
Account #10479
As of June 30,
2019
Transaction
Settlement
Acq/Disp
Interest
Type
Date
CUSIP
Quantity
Security Description
Price
Yield Amount
Pur/Sold
Total Amount
Gain/Loss
ACQUISITIONS
Purchase
06/30/2019
31846V203
375,000.00
First American Govt Obligation Fund
1.000
1.99% 375,000.00
0.00
375,000.00
0.00
Class Y
Subtotal
463,415.89
463,415.89
0.00
463,415.89
0.00
TOTAL ACQUISITIONS
463,415.89
463,415.89
0.00
463,415.89
0.00
DISPOSITIONS
.1101111.
Paydown
06/17/2019
43811BACS
6,385.59
Honda Auto Receivables 2017-2 A3
100.000
6,385.59
118.15
6,503.74
0.00
1.68% Due 8/16/2021
Paydown
06/17/2019
47788BAD6
2,312.71
John Deere Owner Trust 2017-B A3
100.000
2,312.71
46.53
2,359.24
0.00
1.82% Due 10/15/2021
Paydown
06/17/2019
47788CAB8
13,000.60
John Deere Owner Trust 2018-A A2
100.000
13,000.60
139.84
13,140.44
0.00
2.42% Due 10/15/2020
Paydown
06/17/2019
47788CAC6
0.00
John Deere Owner Trust 2016-B A4
100.000
0.00
110.83
110.83
0.00
2.66% Due 4/18/2022
Paydown
06/17/2019
89237RA134
19,749.78
Toyota Auto Receivable 2017-C A2A
100.000
19,749.78
76.20
19,825.98
0.00
1.58% Due 7/15/2020
Paydown
06/17/2019
89238BABS
13,925.63
Toyota Auto Receivables Owner 2018-A 100.000
13,925.63
138.18
14,063.81
0.00
A2A
2.1% Due 10/15/2020
Paydown
06/18/2019
43814WAB1
0.00
HAROT 2019-1 A2
100.000
0.00
446.88
446.88
0.00
2.75% Due 9/20/2021
Paydown
06/25/2019
31376FDQ1
0.00
FHLMC K717 A2
100.000
0.00
373.88
373.88
0.00
2.991% Due 9/25/2021
Subtotal
55,374.31
55,374.31
1,450.49
56,824.80
0.00
Maturity
06/30/2019
912828WS5
375,000.00
US Treasury Note
100.000
375,000.00
0.00
375,000.00
0.00
1.625% Due 6/30/2019
Subtotal
375,000.00
375,000.00
0.00
375,000.00
0.00
Chandler Asset Management -CONFIDENTIAL
Page 11
Execution Time: 7/1/201910:44:17 PM
City of West
Covina Short Term
Transaction Ledger
OR
Account #10479
As of June 30, 2019
Transaction
Settlement
Acq/Disp
Interest
Type
Date
CUSIP
Quantity
Security Description
Price
Yield
Amount
Pur/Sold
Total Amount
Gain/Loss
DISPOSITIONS
Security
06/05/2019
31846V203
1,626.28
First American Govt Obligation Fund
1.000
1,626.28
0.00
1,626.28
0.00
Withdrawal
Class
Security
06/25/2019
31846V203
174.69
First American Govt Obligation Fund
1.000
174.69
0.00
174.69
0.00
Withdrawal
Class Y
Subtotal
1,800.97
1,800.97
0.00
1,800.97
0.00
TOTAL DISPOSITIONS
432,175.28
432,175.28
1,450.49
433,625.77
0.00
OTHER TRANSACTIONS
Interest
06/05/2019
437076BQ4
90,000.00
Home Depot Note
0.000
810.00
0.00
810.00
0.00
1.8% Due 6/5/2020
Interest
06/11/2019
313379RB7
350,000.00
FHLB Note
0.000
3,281.25
0.00
3,281.25
0.00
1.875% Due 6/11/2021
Interest
06/12/2019
313383HU8
350,000.00
FHLB Note
0.000
3,062.50
0.00
3,062.50
0.00
1.75% Due 6/12/2020
Interest
06/22/2019
3135GOD75
700,000.00
FNMA Note
0.000
5,250.00
0.00
5,250.00
0.00
1.5% Due 6/22/2020
Interest
06/30/2019
912828G87
165,000.00
US Treasury Note
0.000
1,753.13
0.00
1,753.13
0.00
2.125% Due 12/31/2021
Interest
06/30/2019
912828G95
750,000.00
US Treasury Note
0.000
6,093.75
0.00
6,093.75
0.00
1.625% Due 12/31/2019
Interest
06/30/2019
912828N48
250,000.00
US Treasury Note
0.000
2,187.50
0.00
2,187.50
0.00
1.75% Due 12/31/2020
Interest
06/30/2019
912828WS5
375,000.00
US Treasury Note
0.000
3,046.88
0.00
3,046.88
0.00
1.625% Due 6/30/2019
Interest
06/30/2019
912828XGO
365,000.00
US Treasury Note
0.000
3,878.13
0.00
3,878.13
0.00
2.125% Due 6/30/2022
Subtotal
3,395,000.00
29,363.14
0.00
29,363.14
0.00
Chandler Asset Management -CONFIDENTIAL
Page 12
Execution Time: 7/1/201910:44:17 PM
City of West Covina Short Term
Account#10479
OTHER TRANSACTIONS ML
Dividend 06/03/2019 31846V203
Subtotal
TOTAL OTHER TRANSACTIONS
Transaction Ledger
As of June 30, 2019
OR
18,378.23 First American Govt Obligation Fund 0.000 2,227.95 0.00 2,227.95 0.00
Class Y
18,378.23 2,227.95 0.00 2,227.95 0.00
3,413,378.23
31,591.09 0.00 31,591.09 0.00
Chandler Asset Management - CONFIDENTIAL Page 13 Execution Time: 7/1/201910:44:17 PM