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Item #2 - INVESTMENT REPORT FOR THE MONTH ENDED AUGUST 31, 2019AGENDA ITEM NO.2 AGENDA STAFF REPORT City of West Covina I Office of the City Manager DATE: September 17, 2019 TO: Mayor and City Council FROM: David Carmany City Manager SUBJECT: INVESTMENT REPORT FOR THE MONTH ENDED AUGUST 31, 2019 RECOMMENDATION: It is recommended that the City Council receive and file the Investment Report for the month ended August 31, 2019. DISCUSSION: The Investment Report (Attachment No. 1) presents the City's and the Successor Agency's cash and investments for the month ended August 31, 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 the 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 deposited with the Los Angeles County Investment Pool (LACIP), the Local Agency Investment Fund (LAIF), and Chandler Asset Management (Attachment No. 2). At August 31, 2019, the investment portfolio had a market value of $58,782,398. 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 August 31, 2019, the bond reserves had a market value of $10,640,035. Prepared by: Todd H. Owens, Accounting Manager Additional Approval: Robbeyn Bird, CPA, Interim Finance Director Attachments Attachment No. 1 - August 31, 2019 Investment Report Attachment No. 2 - Chandler Report ATTACHMENT NO. 1 City of West Covina Investment Report For the Month Ended August 31, 2019 Interestl Yield to Maturity % of Description Book Value Market Value Maturity Date Portfolio Cash and Cash Equivalents Wells Fargo Checking Account $ 3,571,093 $ 3,571,093 0.00% n/a 5.14°% Pacific Western Bank Checking - HPP (CDBG) 3,517 3,517 0.00% n/a 0.01 % Pacific Western Bank Checking - HPP (LMIHF) 678 678 0.00% n1a 0.00% Los Angeles County Investment Pool (LACIP) 24,967,080 24,967,080 2.15% n1a 35.95% Los Angeles County Investment Pool (LACIP) - Successor Agency 1,580,045 1,580,045 2.15% n/a 2.28% Local Agency Investment Fund (LAIF) 19,000,000 19,000,000 2.36% n/a 27.37% Wells Fargo Checking Account - CFD 2,309,477 2,309,477 0.00% n/a 3.33% Investments - Chandler Asset Management Asset -Backed Securities 404,408 406,197 2.07% See attached 0.59% Federal Agencies 3,156,180 3,143,166 1.83% See attached 4.53% Collateralized Mortgage Obligation 151,580 152,547 2.74°% See attached 0.22% Money Market Funds 704,922 704,922 1.71 % See attached 1.02% Supranationals 700,206 699,902 2.07% See attached 1.01% US Treasury 2,255,450 2,243,774 1.88% See attached 3.23 % Total Cash and Investments $ 68,804,636 $ 68,782,398 Bond Reserves Lease Revenue Bonds, 2006 Series A 6 2006 Series B (Taxable) First American Treasury Obligations Fund Class D $ 1,071,000 $ 1,071,000 1.55% n/a 1.54% First American Treasury Obligations Fund Class D 586,372 585,372 1.55°% n/a 0.84% 1996 Special Tax Refunding Bonds - Successor Agency Westdeutsche Landesbank Girozentrale Investment Agmt 5,002,670 5,002,670 7.01% 9/1/2022 7.21% First American Treasury Obligations Fund Class D 3,980,993 3,980,993 1.55% n/a 5.73°% Total Bond Reserves $ 10,640,035 $ 10,640,036 Total Investment Portfolio 100.00% $ 69,444,671 $ 69,422,433 Blended Yield of Cash and Investments ` 2.19% Benchmarks: LAIF 2.36% LACIP ` 2.15% 6mo U.S. Treasury 1.89% 2yr U.S. Treasury 1.50% 5yr U.S. Treasury 1.39% . 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: REVIEWED BY: Todd H. Owens -Accounting Manager Colleen B. Rozatti - City Treasurer APPROVED BY: Robbeyn Bird - IntVm Finance Director ATTACHMENT NO. 2 OR City of West Covina Short Term - Account #10479 MONTHLY ACCOUNT STATEMENT AUGUST 1, 2019 THROUGH AUGUST 31, 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 August 31, 2019 OR PORTFOLIO CHARACTERISTICS Average Modified Duration 0.59 Average Coupon 1.56% Average Purchase YTM 1.23% Average Market YTM 1.89% Average S&P/Moody Rating AA+/Aaa Average Final Maturity 0.68 yrs Average Life 0.60 yrs SECTOR ALLOCATION Age., 42.8% Us Tres:ery 30.5% supra.. 9.6% Money Mkt Fd.9.6% ABS. 5.5% CMO' 2.1% PERFORMANCE REVIEW ACCOUNT SUMMARY Beg. Values End Values as of 7/31/19 as of 8/31/19 Market Value 21,070,272 7,350,508 Accrued Interest 74,037 22,254 Total Market Value 21,144,308 7,372,762 Income Earned 25,841 16,204 Cont/WD -13,851,761 Par 21,127,065 7,359,969 Book Value 21,153,259 7,372,746 Cost Value 21,288,543 7,446,347 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 30.5% Federal National Mortgage Assoc 23.7% Federal Home Loan Mortgage Corp 16.4% International Finance Corp 9.6% First American Govt Oblig Fund 9.6% Federal Home Loan Bank 4.7% Honda ABS 3.6% John Deere ABS 1.4% Total 99.5% CREDIT QUALITY (S&P) AA (73.3%) NR (3.5%) ..AA (23.2%I Annualized TOTAL RATE OF RETURN 1M 3M YTD 1YR 2YRS 3YRS 5YR5 10YRS 7/31/2016 City of West Covina Short Term 0.41% 0.88% 2.64% 3.72% 2.09% 1.66% N/A N/A 1.58% ICE BAML 1-3 Yr US Treasury/Agency Index 0.80% 1.20% 3.13% 4.34% 2.15% 1.61% N/A N/A 1.52% Chandler Asset Management - CONFIDENTIAL Page 1 Execution Time: 9/3/201911:16:27 PM Category Treasurylssues Federal Agencies Municipal Securities Statement of Compliance As of August 31, 2019 City of West Covina Assets managed by Chandler Asset Management are in full compliance with state law and the District's investment policy. Standard No limitations No limitations "A" or higher by a NRSRO; 30% maximum; 5% max per issuer Comment Complies Complies 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 Reconciliation Summary As of August 31, 2019 +Security Purchases $0.00 + Money Market Fund Purchases $13,985,716.83 + Money Market Contributions $0.00 +Security Contributions $0.00 + Security Transfers $0.00 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 $11,979,045.11 $0.00 $13,851,761.20 $0.00 $0.00 $0.00 $1,880,000.00 $0.00 $56,050.93 ($2,633.34) $3,260.26 OR $21,153,259.31 BEGINNING BALANCE $570,966.32 Acquisition Contributions $0.00 Security Sale Proceeds $11,979,045.11 Accrued Interest Received $45,443.14 Interest Received $24,306.46 Dividend Received $871.19 $13,985,716.83 Principal on Maturities $1,880,000.00 Interest on Maturities $0.00 Calls/Redemption (Principal) $0.00 Interest from Calls/Redemption $0.00 Principal Paydown $56,050.93 Total Acquisitions $13,985,716.83 Dispositions Withdrawals $13,851,761.20 Security Purchase $0.00 Accrued Interest Paid $0.00 Total Dispositions $13,851,761.20 $27,766,857.24 ENDING BOOK VALUEMoog $704,921.95 ($2,633.34) $3,260.26 $7,372,745.82 Chandler Asset Management - CONFIDENTIAL Page 3 Execution Time: 9/3/201911:16:27 PM City of West Covina Short Term Account#10479 I&BS 89237RAB4 Toyota Auto Receivable 2017-C A2A 1.58% Due 7/15/2020 Holdings Report As of August 31, 2019 OR 1,014.74 07/25/2017 1,014.74 99.97 1,014.42 0.01% Aaa / AAA 0.87 1.59% 1,014.74 2.70% 0.72 (0.32) NR 0.03 89238BAB8 Toyota Auto Receivables Owner 2018-A 38,545.87 01/23/2018 38,541.92 99.99 38,542.08 0.52% Aaa / AAA 1.13 A2A 2.12% 38,544.23 2.20% 35.98 (2.15) NR 0.10 2.1% Due 10/15/2020 47788CAB8 John Deere Owner Trust 2018-A A2 29,603.52 Various 29,572.81 100.01 29,606.40 0.40% Aaa / NR 1.13 2.42%Due 10/15/2020 2.51% 29,590.13 2.31% 31.84 16.27 AAA 0.08 43811BAC8 Honda Auto Receivables 2017-2 A3 66,272.17 04/27/2018 65,241.85 99.83 66,158.43 0.90% Aaa / AAA 1.96 1.68%Due 8/16/2021 2.62% 65,660.31 2.01% 49.48 498.12 NR 0.52 43814WAB1 HAROT 2019-1 A2 195,000.00 02/19/2019 194,987.44 100.55 196,068.41 2.66% NR / AAA 2.06 2.75% Due 9/20/2021 2.77% 194,989.94 2.01% 193.65 1,078.47 AAA 0.73 47788BAD6 John Deere Owner Trust 2017-B A3 24,611.18 07/11/2017 24,609.38 99.83 24,568.20 0.33% Aaa / NR 2.13 1.82% Due 10/15/2021 1.83% 24,610.28 2.18% 19.91 (42.08) AAA 0.49 47788CAC6 John Deere Owner Trust 2018-A A3 50,000.00 02/21/2018 49,996.41 100.48 50,239.90 0.68% Aaa / NR 2.63 2.66%Due 4/18/2022 2.68% 49,997.72 2.08% 59.11 242.18 AAA 0.81 403,964.55 406,197.84 5.51% Aaa/AAA 1.96 Total ABS 405,047.48 2.59% 404,407.35 2.07% 390.69 1,790.49 AAA 0.58 i 3137EADM8 FHLMC Note 700,000.00 08/05/2016 706,153.00 99.93 699,524.00 9.54% � Aaa / AA+ 0.09 1.25%Due 10/2/2019 0.97% 700,165.86 2.03% 3,621.52 (641.86) AAA 0.09 3137EAEE5 FHLMC Note 350,000.00 01/12/2017 349,622.00 99.83 349,418.65 4.75% Aaa / AA+ 0.38 1.5% Due 1/17/2020 1.54% 349,952.36 1.94% 641.67 (533.71) AAA 0.38 3135GOA78 FNMA Note 350,000.00 10/14/2016 355,204.50 99.88 349,569.15 4.75% Aaa /AA+ 0.39 1.625%Due 1/21/2020 1.16% 350,620.52 1.94% 631.94 (1,051.37) AAA 0.39 3135GOD75 FNMA Note 700,000.00 07/29/2016 712,474.00 99.71 697,964.40 9.49% Aaa /AA+ 0.81 1.5% Due 6/22/2020 1.03% 702,584.16 1.86% 2,012.50 (4,619.76) AAA 0.80 3135GOF73 FNMA Note 350,000.00 07/29/2016 355,939.50 99.80 349,305.25 4.76% Aaa /AA+ 1.25 1.5% Due 11/30/2020 1.10% 351,708.78 1.66% 1,327.08 (2,403.53) AAA 1.23 313OA7CV5 FHLB Note 350,000.00 07/29/2016 353,846.50 99.74 349,081.60 4.74% Aaa / AA+ 1.47 1.375% Due 2/18/2021 1.13% 351,238.27 1.56% 173.78 (2,156.67) AAA 1.44 Chandler Asset Management -CONFIDENTIAL Page 4 Execution Time: 9/3/2019 11:16:27 PM City of West Covina Short Term Account#10479 3135GOK69 FNMA Note 1.25% Due 5/6/2021 Total Agency CIVIC) - 3137BFDQ1 FHLMC K717 A2 2.991% Due 9/25/2021 Total CMO MONEY MARKET FUND FI 31846V203 First American Govt Obligation Fund Class Y Holdings Report As of August 31, 2019 350,000.00 07/22/2016 349,744.50 99.52 1.27% 349,910.25 1.54% 3,182,984.00 3,150,000.00 1.13% 3,156,180.20 1.83% OR 348,302.50 4.74% Aaa/AA+ 1.68 1,397.57 (1,607.75) AAA 1.65 3,143,165.55 42.77% Aaa / AA+ 0.77 9,806.06 (13,014.65) AAA 0.76 1 150,000.00 01/04/2018 152,835.94 101.70 152,547.00 2.37% 151,580.17 2.74% 373.88 2.07% NR/NR 2.07 966.83 AAA 1.80 152,835.94 152,547.00 2.07% NR/NR 2.07 150,000.00 2.37% 151,580.17 2.74% 373.88 966.83 AAA 1.80 704,921.95 Various 704,921.95 1.00 704,921.95 9.56% Aaa/AAA 0.00 1.71% 704,921.95 1.71% 0.00 0.00 AAA 0.00 704,921.95 704,921.95 9.56% Aaa / AAA 0.00 Total Money Market Fund FI 704,921.95 1.71% 704,921.95 1.71% 0.00 0.00 AAA 0.00 SUPRANATIONAL =a . �111111 i 45950KCDO International Finance Corp Note 700,000.00 08/05/2016 715,554.00 99.99 699,902.00 9.57% Aaa / AAA 0.04 1.75%Due 9/16/2019 1.02% 700,205.74 2.07% 5,614.58 (303.74) NR 0.04 715,554.00 699,902.00 9.57% Aaa/AAA 0.04 Total Supranational 700,000.00 1.02% 700,205.74 2.07% 5,614.58 (303.74) NR 0.04 USTREASURY 912828G95 US Treasury Note 750,000.00 07/25/2016 766,848.22 99.89 749,150.26 10.19% Aaa / AA+ 0.33 1.625% Due 12/31/2019 0.96% 751,627.00 1.96% 2,086.44 (2,476.74) AAA 0.33 912828UL2 US Treasury Note 375,000.00 08/05/2016 380,992.47 99.77 374,121.00 5.08% Aaa / AA+ 0.42 1.375% Due 1/31/2020 0.91% 375,716.64 1.94% 448.37 (1,595.64) AAA 0.41 Chandler Asset Management - CONFIDENTIAL Page 5 Execution Time: 9/3/201911:16:27 PM City of West Covina Short Term Holdings Report OR Account #10479 As of August 31, 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 M kt YTM Accrued Int. Gain/Loss Fitch Duration US TREASURY 91282SUVO US Treasury Note 375,000.00 08/05/2016 377,799.11 99.56 373,359.38 5.09% Aaa / AA+ 0.58 1.125% Due 3/31/2020 0.92% 375,445.84 1.88% 1,775.10 (2,086.46) AAA 0.57 912828VF4 US Treasury Note 375,000.00 08/05/2016 380,391.88 99.65 373,681.50 5.09% Aaa / AA+ 0.75 1.375% Due 5/31/2020 0.99% 376,057.46 1.85% 1,310.19 (2,375.96) AAA 0.74 91282SN89 US Treasury Note 375,000.00 08/11/2016 380,054.97 99.59 373,461.75 5.07% Aaa /AA+ 1.42 1.375%Due 1/31/2021 1.07% 376,603.47 1.67% 448.37 (3,141.72) AAA 1.39 2,286,086.65 2,243,773.89 30.52% Aaa / AA+ 0.64 Total US Treasury 2,250,000.00 0.97% 2,255,450.41 1.88% 6,068.47 (11,676.S2) AAA 0.63 7,446,347.09 7,350,508.23 100.00% Aaa / AA+ 0.68 TOTAL PORTFOLIO 7,359,969.43 1.23% 7,372,745.82 1.89% 22,253.68 (22,237.59) AAA 0.59 TOTAL MARKET VALUE PLUS ACCRUED 7,372,761.91 Chandler Asset Management - CONFIDENTIAL Page 6 Execution Time: 9/3/201911:16:27 PM City of West Covina Short Term Transaction Ledger +i Account #10479 As of August 31, 2019 Transaction Settlement Acq/Disp Interest Type Date CUSIP Quantity Security Description Price Yield Amount Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 08/01/2019 31846V203 3,531.25 First American Govt Obligation Fund 1.000 1.93% 3,531.25 0.00 3,531.25 0.00 Class Y Purchase 08/01/2019 31846V203 565,000.00 First American Govt Obligation Fund 1.000 1.93% 565,000.00 0.00 565,000.00 0.00 Class Y Purchase 08/01/2019 31846V203 871.19 First American Govt Obligation Fund 1.000 1.93% 871.19 0.00 871.19 0.00 Class Y Purchase 08/05/2019 31846V203 3,312.50 First American Govt Obligation Fund 1.000 1.93% 3,312.50 0.00 3,312.50 0.00 Class Y Purchase 08/08/2019 31846V203 3,805.00 First American Govt Obligation Fund 1.000 1.93% 3,805.00 0.00 3,805.00 0.00 Class Y Purchase 08/08/2019 31846V203 410,000.00 First American Govt Obligation Fund 1.000 1.93% 410,000.00 0.00 410,000.00 0.00 Class Y Purchase 08/11/2019 31846V203 1,856.25 First American Govt Obligation Fund 1.000 1.93% 1,856.25 0.00 1,856.25 0.00 Class Y Purchase 08/12/2019 31846V203 1,968.75 First American Govt Obligation Fund 1.000 1.93% 1,968.75 0.00 1,968.75 0.00 Class Y Purchase 08/14/2019 31846V203 5,419,253.82 First American Govt Obligation Fund 1.000 1.93% 5,419,253.82 0.00 5,419,253.82 0.00 Class Y Purchase 08/15/2019 31846V203 4,665,929.20 First American Govt Obligation Fund 1.000 1.93% 4,665,929.20 0.00 4,665,929.20 0.00 Class Y Purchase 08/15/2019 31846V203 596,587.97 First American Govt Obligation Fund 1.000 1.93% 596,587.97 0.00 596,587.97 0.00 Class Y Purchase 08/15/2019 31846V203 2,645.00 First American Govt Obligation Fund 1.000 1.93% 2,645.00 0.00 2,645.00 0.00 Class Y Purchase 08/15/2019 31846V203 205,000.00 First American Govt Obligation Fund 1.000 1.93% 205,000.00 0.00 205,000.00 0.00 Class Y Purchase 08/15/2019 31846V203 6,025.57 First American Govt Obligation Fund 1.000 1.93% 6,025.57 0.00 6,025.57 0.00 Class Y Purchase 08/15/2019 31846V203 Purchase 08/15/2019 31846V203 Chandler Asset Management - CONFIDENTIAL 2,168.53 First American Govt Obligation Fund 1.000 1.93% 2,168.53 Class Y 15,105.32 First American Govt Obligation Fund 1.000 1.93% 15,105.32 Class Y Page 7 0.00 2,168.53 0.00 0.00 15,105.32 0.00 Execution Time: 9/3/201911:16:27 PM City of West Covina Short Term Transaction Ledger +i Account #10479 As of August 31, 2019 Transaction Settlement Acq/Disp Interest CUSIP Quantity Security Description Price Amount Total Amount Gain/Loss Type Date Yield Pur/Sold ACQUISITIONS Purchase 08/15/2019 31846V203 110.83 First American Govt Obligation Fund 1.000 1.93% 110.83 0.00 110.83 0.00 Class Y Purchase 08/15/2019 31846V203 19,086.24 First American Govt Obligation Fund 1.000 1.93% 19,086.24 0.00 19,086.24 0.00 Class Y Purchase 08/15/2019 31846V203 14,015.14 First American Govt Obligation Fund 1.000 1.93% 14,015.14 0.00 14,015.14 0.00 Class Y Purchase 08/16/2019 31846V203 1,342,717.26 First American Govt Obligation Fund 1.000 1.93% 1,342,717.26 0.00 1,342,717.26 0.00 Class Y Purchase 08/18/2019 31846V203 2,406.25 First American Govt Obligation Fund 1.000 1.93% 2,406.25 0.00 2,406.25 0.00 Class Y Purchase 08/19/2019 31846V203 446.88 First American Govt Obligation Fund 1.000 1.93% 446.88 0.00 446.88 0.00 Class Y Purchase 08/26/2019 31846V203 373.88 First American Govt Obligation Fund 1.000 1.93% 373.88 0.00 373.88 0.00 Class Y Purchase 08/28/2019 31846V203 3,500.00 First American Govt Obligation Fund 1.000 1.93% 3,500.00 0.00 3,500.00 0.00 Class Y Purchase 08/28/2019 31846V203 700,000.00 First American Govt Obligation Fund 1.000 1.93% 700,000.00 0.00 700,000.00 0.00 Class Y Subtotal 13,985,716.83 13,985,716.83 0.00 13,985,716.83 0.00 TOTAL ACQUISITIONS 13,985,716.83 13,985,716.83 0.00 13,985,716.83 0.00 DISPOSITIONS AM, - Sale 08/14/2019 3130A8QS5 350,000.00 FHLB Note 98.969 1.67% 346,391.50 328.13 346,719.63-2,610.40 1.125% Due 7/14/2021 Sale 08/14/2019 313379RB7 350,000.00 FHLB Note 100.287 1.71% 351,004.50 1,148.44 352,152.94 142.66 1.875% Due 6/11/2021 Sale 08/14/2019 313383HU8 350,000.00 FHLB Note 99.889 1.89% 349,610.10 1,054.86 350,664.96-2,180.84 1.75% Due 6/12/2020 Chandler Asset Management - CONFIDENTIAL Page 8 Execution Time: 9/3/201911:16:27 PM City of West Covina Short Term Transaction Ledger +i Account #10479 As of August 31, 2019 Transaction Settlement Acq/Disp Interest Type Date CUSIP Quantity Security Description Price Yield Amount Pur/Sold Total Amount Gain/Loss DISPOSITIONS Sale 08/14/2019 3135GOS38 725,000.00 FNMA Note 100.754 1.68% 730,466.50 1,570.83 732,037.33 3,464.36 2% Due 1/5/2022 Sale 08/14/2019 3135GOT45 355,000.00 FNMA Note 100.646 1.62% 357,293.30 2,385.16 359,678.46 2,322.86 1.875% Due 4/5/2022 Sale 08/14/2019 3137EADR7 350,000.00 FHLMC Note 99.616 1.92% 348,656.00 1,376.91 350,032.91 -844.04 1.375% Due 5/1/2020 Sale 08/14/2019 3137EAEC9 350,000.00 FHLMC Note 98.903 1.69% 346,160.50 21.88 346,182.38 -2,523.00 1.125% Due 8/12/2021 Sale 08/14/2019 912828G87 165,000.00 US Treasury Note 101.168 1.62% 166,927.15 428.75 167,355.90 706.52 2.125% Due 12/31/2021 Sale 08/14/2019 912828/43 355,000.00 US Treasury Note 100.359 1.61% 356,275.78 2,819.26 359,095.04 4,568.74 1.75% Due 2/28/2022 Sale 08/14/2019 912828K58 225,000.00 US Treasury Note 99.633 1.90% 224,173.83 891.13 225,064.96 -603.79 1.375% Due 4/30/2020 Sale 08/14/2019 9128281-99 250,000.00 US Treasury Note 99.488 1.80% 248,720.70 990.15 249,710.85 -125.15 1.375% Due 10/31/2020 Sale 08/14/2019 912828N48 250,000.00 US Treasury Note 99.977 1.77% 249,941.41 534.99 250,476.40 1,451.75 1.75% Due 12/31/2020 Sale 08/14/2019 912828V72 200,000.00 US Treasury Note 100.613 1.62% 201,226.56 142.66 201,369.22 957.43 1.875% Due 1/31/2022 Sale 08/14/2019 912828WN6 750,000.00 US Treasury Note 100.547 1.69% 754,101.56 3,073.77 757,175.33 -2,256.41 2% Due 5/31/2021 Sale 08/14/2019 912828XGO 365,000.00 US Treasury Note 101.531 1.58% 370,589.06 948.45 371,537.51 2,528.98 2.125% Due 6/30/2022 Sale 08/15/2019 00440EAT4 390,000.00 Chubb INA Holdings Inc Callable Note 100.215 2.12% 390,838.50 2,541.50 393,380.00 237.43 Cont 10/3/2020 2.3% Due 11/3/2020 Sale 08/15/2019 037833BS8 250,000.00 Apple Inc Callable Note Cont 1/23/2021 100.431 1.96% 251,077.50 2,687.50 253,765.00 -1,425.69 2.25% Due 2/23/2021 Sale 08/15/2019 06406HCW7 500,000.00 Bank of New York Callable Note Cont 99.992 2.39% 499,960.00 4,919.44 504,879.44 -380.62 8/11/2019 2.3% Due 9/11/2019 Chandler Asset Management- CONFIDENTIAL Page 9 Execution Time: 9/3/201911:16:27 PM City of West Covina Short Term Transaction Ledger +i Account #10479 As of August 31, 2019 Transaction Settlement Acq/Disp Interest Type Date CUSIP Quantity Security Description Price Yield Amount Pur/Sold Total Amount Gain/Loss DISPOSITIONS A Sale 08/15/2019 22160KAGO 150,000.00 Costco Wholesale Corp Note 99.728 2.30% 149,592.00 0.00 149,592.00 -542.08 1.75% Due 2/15/2020 Sale 08/15/2019 30231GAV4 250,000.00 Exxon Mobil Corp Callable Note Cent 100.303 2.02% 250,757.50 2,530.61 253,288.11 -2,180.90 2/1/2021 2.222% Due 3/1/2021 Sale 08/15/2019 4581XOCDS 350,000.00 Inter -American Dev Bank Note 100.495 1.72% 351,732.50 1,983.33 353,715.83 -2,124.77 2.125% Due 11/9/2020 Sale 08/15/2019 4581XOCW6 345,000.00 Inter -American Dev Bank Note 101.117 1.65% 348,853.65 549.84 349,403.49 4,059.78 2.125% Due 1/18/2022 Sale 08/15/2019 4581XOCX4 290,000.00 Inter -American Dev Bank Note 99.754 1.96% 289,286.60 1,217.40 290,504.00 -547.98 1.625% Due 5/12/2020 Sale 08/15/2019 45950KCMO 215,000.00 International Finance Corp Note 100.657 1.79% 216,412.55 268.75 216,681.30 1,717.64 2.25% Due 1/25/2021 Sale 08/15/2019 46625HKA7 445,000.00 1P Morgan Chase Callable Note Cent 99.986 2.28% 444,937.70 611.88 445,549.58 -888.53 12/23/2019 2.25% Due 1/23/2020 Sale 08/15/2019 594918BPS 200,000.00 Microsoft Callable Note Cent 7/8/2021 99.463 1.83% 198,926.00 60.28 198,986.28 -887.68 1.55% Due 8/8/2021 Sale 08/15/2019 68389XAX3 250,000.00 Oracle Corp Note 99.986 2.33% 249,965.00 1,984.38 251,949.38 -371.45 2.25% Due 10/8/2019 Sale 08/15/2019 747525AD5 500,000.00 Qualcomm Inc Note 100.130 2.08% 500,650.00 2,656.25 503,306.25 -2,149.02 2.25% Due 5/20/2020 Sale 08/15/2019 857477AVS 250,000.00 State Street Bank Note 99.851 2.04% 249,627.50 1,164.58 250,792.08 -1,399.36 1.95% Due 5/19/2021 Sale 08/15/2019 91282BP87 350,000.00 US Treasury Note 99.148 1.69% 347,019.53 1,797.55 348,817.08 -208.57 1.125% Due 2/28/2021 Sale 08/15/2019 912828576 250,000.00 US Treasury Note 99.063 1.61% 247,656.25 114.64 247,770.89 306.64 1.125% Due 7/31/2021 Sale 08/15/2019 94974BGF1 250,000.00 Wells Fargo Corp Note 99.965 2.23% 249,912.50 223.96 250,136.46 -616.65 2.15% Due 1/30/2020 Sale 08/16/2019 166764BG4 250,000.00 Chevron Corp Callable Note Cent 100.319 1.90% 250,797.50 1,312.50 252,110.00 -1,056.56 4/15/2021 2.1% Due 5/16/2021 Chandler Asset Management- CONFIDENTIAL Page 10 Execution Time: 9/3/201911:16:27 PM City of West Covina Short Term Transaction Ledger +i Account #10479 As of August 31, 2019 Transaction Settlement Acq/Disp Interest Type Date CUSIP Quantity Security Description Price Yield Amount Pur/Sold Total Amount Gain/Loss DISPOSITIONS Sale 08/16/2019 437076BQ4 90,000.00 Home Depot Note 99.775 2.08% 89,797.50 319.50 90,117.00 -188.50 1.8% Due 6/5/2020 Sale 08/16/2019 44932HAG8 250,000.00 IBM Credit Corp Note 100.780 2.11% 251,950.00 202.43 252,152.43 2,614.44 2.65% Due 2/5/2021 Sale 08/16/2019 45950KC17 275,000.00 International Finance Corp Note 99.009 1.65% 272,273.38 223.64 272,497.02 -86.52 1.125% Due 7/20/2021 Sale 08/16/2019 69353RFE3 250,000.00 PNC Bank Callable Note Cont 6/28/2022 100.933 2.12% 252,332.50 306.25 252,638.75 2,345.77 2.45% Due 7/28/2022 Sale 08/16/2019 69371RN44 225,000.00 Paccar Financial Corp Note 99.178 2.07% 223,150.50 51.56 223,202.06 2,033.77 1.65% Due 8/11/2021 Subtotal 11,965,000.00 11,979,045.11 45,443.14 12,024,488.25 3,260.26 Paydown 08/15/2019 43811BAC8 5,924.49 Honda Auto Receivables 2017-2 A3 100.000 5,924.49 101.08 6,025.57 0.00 1.68% Due 8/16/2021 Paydown 08/15/2019 47788BAD6 2,127.98 John Deere Owner Trust 2017-B A3 100.000 2,127.98 40.55 2,168.53 0.00 1.82% Due 10/15/2021 Paydown 08/15/2019 47788CAB8 15,015.34 John Deere Owner Trust 2018-A A2 100.000 15,015.34 89.98 15,105.32 0.00 2.42% Due 10/15/2020 Paydown 08/15/2019 47788CAC6 0.00 John Deere Owner Trust 2018-A A3 100.000 0.00 110.83 110.83 0.00 2.66% Due 4/18/2022 Paydown 08/15/2019 89237RAB4 19,059.80 Toyota Auto Receivable 2017-C A2A 100.000 19,059.80 26.44 19,086.24 0.00 1.58% Due 7/15/2020 Paydown 08/15/2019 89238BABS 13,923.32 Toyota Auto Receivables Owner 2018-A 100.000 13,923.32 91.82 14,015.14 0.00 A2A 2.1% Due 10/15/2020 Paydown 08/19/2019 43814WAB1 0.00 HAROT 2019-1 A2 100.000 0.00 446.88 446.88 0.00 2.75% Due 9/20/2021 Paydown 08/26/2019 3137BFDQ1 0.00 FHLMC K717 A2 100.000 0.00 373.88 373.88 0.00 2.991% Due 9/25/2021 Subtotal 56,050.93 56,050.93 1,281.46 57,332.39 0.00 Maturity 08/01/2019 3137EADK2 565,000.00 FHLMC Note 100.000 565,000.00 0.00 565,000.00 0.00 1.25% Due 8/1/2019 Chandler Asset Management- CONFIDENTIAL Page 11 Execution Time: 9/3/201911:16:27 PM City of West Covina Short Term Transaction Ledger +i Account #10479 As of August 31, 2019 Transaction Settlement Acq/Disp Interest Type Date CUSIP Quantity Security Description Price Yield Amount Pur/Sold Total Amount Gain/Loss DISPOSITIONS Maturity 08/08/2019 594918BN3 410,000.00 Microsoft Note 100.000 410,000.00 0.00 410,000.00 0.00 1.1% Due 8/8/2019 Maturity 08/15/2019 084664CKS 205,000.00 Berkshire Hathaway Note 100.000 205,000.00 0.00 205,000.00 0.00 1.3% Due 8/15/2019 Maturity 08/28/2019 3135GOP49 700,000.00 FNMA Note 100.000 700,000.00 0.00 700,000.00 0.00 1% Due 8/28/2019 Subtotal 1,880,000.00 1,880,000.00 0.00 1,880,000.00 0.00 Security 08/06/2019 31846V203 1,585.61 First American Govt Obligation Fund 1.000 1,585.61 0.00 1,585.61 0.00 Withdrawal Class Y Security 08/20/2019 31846V203 13,850,000.00 First American Govt Obligation Fund 1.000 13,850,000.00 0.00 13,850,000.00 0.00 Withdrawal Class Y Security 08/26/2019 31846V203 175.59 First American Govt Obligation Fund 1.000 175.59 0.00 175.59 0.00 Withdrawal Class Subtotal 13,851,761.20 13,851,761.20 0.00 13,851,761.20 0.00 TOTAL DISPOSITIONS 27,752,812.13 27,766,8S7.24 46,724.60 27,813,581.84 3,260.26 OTHER TRANSACTIONS Interest 08/01/2019 3137EADK2 565,000.00 FHLMC Note 0.000 3,531.25 0.00 3,531.25 0.00 1.25% Due 8/1/2019 Interest 08/05/2019 44932HAG8 250,000.00 IBM Credit Corp Note 0.000 3,312.50 0.00 3,312.50 0.00 2.65% Due 2/5/2021 Interest 08/08/2019 594918BN3 410,000.00 Microsoft Note 0.000 2,255.00 0.00 2,255.00 0.00 1.1% Due 8/8/2019 Interest 08/08/2019 594918BPS 200,000.00 Microsoft Callable Note Cont 7/8/2021 0.000 1,550.00 0.00 1,550.00 0.00 1.55% Due 8/8/2021 Interest 08/11/2019 69371RN44 225,000.00 Paccar Financial Corp Note 0.000 1,856.25 0.00 1,856.25 0.00 1.65% Due 8/11/2021 Interest 08/12/2019 3137EAEC9 350,000.00 FHLMC Note 0.000 1,968.75 0.00 1,968.75 0.00 1.125% Due 8/12/2021 Interest 08/15/2019 084664CK5 205,000.00 Berkshire Hathaway Note 0.000 1,332.50 0.00 1,332.50 0.00 1.3% Due 8/15/2019 Chandler Asset Management- CONFIDENTIAL Page 12 Execution Time: 9/3/201911:16:27 PM City of West Covina Short Term Account#10479 Transaction Ledger As of August 31, 2019 OTHER TRANSACTIONS Interest 08/15/2019 22160KAGO 150,000.00 Costco Wholesale Corp Note 0.000 1.75% Due 2/15/2020 Amount Interest Total Amount Gain/Loss Pur/Sold R r 000 1,312.50 rrr Interest 08/18/2019 313OA7CV5 350,000.00 FHLB Note 0.000 1.375% Due 2/18/2021 2,406.25 0.00 2,406.25 0.00 Interest 08/28/2019 3135GOP49 700,000.00 FNMA Note 0.000 1% Due 8/28/2019 3,500.00 0.00 3,500.00 0.00 Subtotal 3,40S,000.00 23,025.00 0.00 23,025.00 0.00 Dividend 08/01/2019 31846V203 570,966.32 First American Govt Obligation Fund 0.000 Class Y 871.19 0.00 871.19 0.00 Subtotal 570,966.32 871.19 0.00 871.19 0.00 TOTAL OTHER TRANSACTIONS 3,975,966.32 23,896.19 0.00 23,896.19 0.00 Chandler Asset Management -CONFIDENTIAL Page 13 Execution Time: 9/3/201911:16:27 PM