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HomeMy WebLinkAboutInvestment Report for December 31 2015 Treasurer Collector Pe � Moak, Treasurer-Tax Collector 25 County Center Drive, Suite 125 T: 530.538.7701 buttecount .net ttc Qroville, California 95565-3384 F: 530.538.7648 TREASURER-TAX COUECTOR mWepalmWom January 15, 2016 _ Butte County Sward of Supervisors Butte County Chief Administrative Officer Treasury Oversight. Committee The attached investment report for December 31, 2015 is submitted in accordance with the Butte County Statement of Investment Policy dated duly 1, 2015. All investments are in compliance with this policy. The Investment Report demonstrates that sufficient liquidity is available to meet anticipated expenditures during the next six months. The Local Agency Investment Fund (LAIF) is used as a benchmark for portfolio performance. A look at the 5 year moving average for the Butte County Treasury apportioned yields vs. LAIF apportioned yields demonstrates that, over time, a medium term, laddered portfolio will generally outperform a shorter term investment strategy, which LAIF usually mirrors. The 5 year moving average for Butte County's FY 13/14 and FY 14/15 performance compared to LAIF shows margins of 1.386% and 1.092°vin, respectively. Using $350,000,000 as a baseline portfolio (actively invested balance), this translates to enhanced earnings averaging $3,822,000 per year for the past five years. Investments are marked to market monthly based on a current market price determined by U.S. Bancorp Investments. Copies of statements reflecting investment and cash management transactions are provided to the Board of Supervisors monthly and are available upon request. Quarterly Investment Reports are made available on the Treasurer-Tax Collector website at http://www.buttecounty.,net/ttc. Respectfully, Peggy Moak Butte County Treasurer-Tax Collector cc: Butte County Auditor-Controller Butte-Tenn Community College Butte County Board of Supervisors Chico Unified and Gridley Unified School Districts Butte County[district Attorney ,lessee, Meegan—Butte County Deputy Administrative Officer Butte County Schools-JPA Liu Annie—Butte County Manager, Gov't. Accounting Butte County Sheriff Childs, Heather—Butte County lnternal Auditor Butte County Superintendent of Schools Butte County Special Districts(Quarterly) oco C40 tF: t -tC; BUTTE COUNTY TREASURER'S INVESTMENT REPORT December 31,2015 YIELD TO WEIGHTED AVERAGE ACTIVELY MANAGED PORTFOLIO: MATURITY MATURITY(DAYS)" PAR VALUE FAIR VALUE COST CARRIED LOCAL AGENCY INVESTMENT FUND(LAIF) 0.400% 1 160,523,471.81 160,523,471.81 160,523,471.81 �..r CALTRUST SHORT TERM 0.551% 1 4,525.71 4,525.71 4,528.22/id BANK MONEY MARKET(COLLATERALIZED) 0.380% 1 1,000,145.76 1,000,145.76 1,000,145.76 0� U.S.TREASURY NOTES— 1.537% 1,646 14,000,000.00 13,878,511.00 14,006,552.44� MUNICIPAL BONDS** 1.742% 1,307 25,570,000.00 25,528,716.40 25,691,474.84 CORPORATE NOTES— 1.361% 931 50,987,000.00 $1,170,008.81 51,453,572.19/' NEGOTIABLE CDS— 1.786% 1,172 4,250,000.00 4,254,082.25 4,248,809.26 r CERTIFICATES OF DEPOSIT(COLLATERALIZED) 1.100% 480 500,000.00 500,000.00 500,000.00— FEDERAL AGENCY NOTES— 1.250% 1,011 209,999,000.00 209,556,653.14 210,016,485.87- TOTAL ACTIVELY MANAGED PORTFOLIO: 1.009% 689 466,834,143.28 466,416,114.88 467,445,040.39 — INVESTMENT OF NOTEIBOND PROCEEDS AND OPERATING CASH SCHOOL BOND PROCEEDS(see page 2 for details) 4,678,559.21 4,678,559.21 4,678,559.21 OPERATING ACCOUNTS U.S.HANK CHECKING ACCOUNT DEPOSITS 16,321,015.34 16,321,015.34 16,321,015.34 OPERATING CASH 33,046.55 33,046.55 33,046.55 OTHER 0.00 0.00 0.00 TOTAL TREASURER'S FUND LEDGER BALANCE;: 487,866,764.38 487,448,735.98 488,477,661.49 INVESTMENTS UNDER MANAGEMENT OF TRUSTEES;see pageVwdetafts 3,530,089.35 3,542,187.15 3,563,157.30 PAR VALUE FAIR VALUE COST CARRIED TOTAL CASH AND INVESTMENTS: 491,396,853.73 490,990,923.13 492,040,818.79 SIX MONTH LIQUIDITY PROJECTIONS Estimated Cash Receipts for Next Six Months 412,858,017 Estimated Disbursements for Next Six Months -467,019,127 Estimated Net Cash Flow for Next Six Months— -54,161,110 (Al) Prudent Reserve -30,000,000 (A2) Securities Maturing 14,400,000 (B) Local Agency Investment Fund/Cal Trust/MM 161,528,146 (C) Total Liquidity for Next Six Months 91,767,036 (A1+A2+B+C) Estimated Cash Available for Long Term Investment -30,000,000 Remaining Available Liquidity 61,767,036 Total Par Value of actively managed investments maturing in less than 12 months: 183,678,143 Total Par Value of actively managed investments maturing in more than 12 months: 283,156,000 Actuat Weighted Average Maturity will be shorter,and actual dollar amount of investments maturing in less than 12 months will be higher than slated,due to call features on investments. Seepage 5 for detaiied list of investments. Includes TRAN(Tax and Revenue Anticipation Notes)receipts and disbursements,if applicab)e- 1 BUTTE COUNTY TREASURER'S INVESTMENT REPORT INVESTMENT OF SCHOOL BOND PROCEEDS December 31, 2015 INVESTMENT MATURITY ANNUAL PAR FAIR COST BONDINOTE DESCRIPTION TYPE DATE DESCRIPTION YIELD* VALUE VALUE CARRIED BONDS-LOCAL AGENCY INVESTMENT FUND(LAIF) Chico Unified Measure E Series A LAIF 0.400% 4,678,559.21 4,678,559.21 4,678,559.21 PAR FAIR COST VALUE VALUE CARRIED GRAND TOTAL 4,678,559.24 4,678,559.21 4,678,559.21 'Yields quoted above are a snapshot per investment type. Actual yields earned on school bonds are calculated by the Treasurer's office and are a composite of investment earnings less Treasury costs. 2 BUTTE COUNTY TREASURER'S INVESTMENT REPORT DEPOSITS AND INVESTMENTS UNDER MANAGEMENT OF TRUSTEESIFISCAL AGENTS December 31, 2015 INVESTMENT MATURITY ANNUAL PAR FAIR COST FINANCING PROGRAM TYPE DATE DESCRIPTION YIELD VALUE VALUE CARRIED 2004 PENSION OBLIGATION BONDS WELLS FARGO BANK,TRUSTEE Series A Bond Fund#XXXX1105 Money Market HERITAGE MM#3106 0.176% 71.85 71.85 71.85 Int.Rate Stabilization Fund#XXXX1109 Money Market HERITAGE MM#3106 0.176% 1,005.39 1,005.39 1,005.39 Pooled Agency Funds Local Agency Investment Fund 0.400% 1,634.04 1,634.04 1,634.04 Principal Account Fund#XXXX1140 Cash Cash 0.000% 0.00 0.00 0,00 Interest Account Fund#XXXX1141 Cash Cash 0.000% 23.84 23.84 23.84 Surplus Account Fund#XXXX1142 Cash Cash 0.000% 1,041,090.74 1,041,090.74 1,041,090.74 Series B Interest Fund#XXXX1301 Money Market HERITAGE MM#3106 0.176% 17,246.09 17,246.09 17,246.09 Series B Bond Fund#XXXX1305 Money Market HERITAGE MM#3106 0.176% 908,445.93 908,445.93 908,445.93 SUBTOTAL 1,969,517.88 1,969,517.88 1,969,517.88 2006 COP-NEAL ROAD RECYCLING&WASTE FACILITY WELLS FARGO BANK,TRUSTEE Certificate Reserve Fund 4XXXX0800 Money Market Gov MMF Service Fund#743 0.011% 26,149.29 26,149.29 26,149.29 USTreas/Agency 06111121 FHLB#3130A1 W96 1.920% 1,170,000.00 1,182,097,80 1,191,200.40 Base Rental Payment Fund#XXXX0801 Money Market Gov MMF Service Fund#743 0.011% 131,650.02 131,650.02 131,650.02 Expense Fund#XXXX0802 Money Market Gov MMF Service Fund#743 0.011% 2,231.32 2,231.32 2,231.32 SUBTOTAL 1,330,030.63 1,342,128.43 1,351,231.03 DEPOSITS WITH FISCAL AGENTS Discovery Benefits Plan Year Cash Balance 1101114-12!31114* NA 18,132.45 18,132.45 '"30,000.00 York Risk Services Group-Claim Administrators Umpqua Bank 4XXXXX2601 Commercial Bank Business Checking NA 212,406.39 212,408.39 212,408.39 SUBTOTAL 230,540.84 230,540.84 242,408.39 PAR FAIR COST VALUE VALUE CARRIED GRAND TOTAL 3,530,089.35 3,542,187.15 3,563,157.30 Represents the most current data available(source:Auditor-Controller) *'Benefits can be paid in advance of receipt of offsetting payroll deductions 3 BUTTE COUNTY TREASURER'S INVESTMENT REPORT ACTIVELY MANAGED PORTFOLIO"AT-A-GLANCE" December 31, 2015 INVESTMENTS BY TYPE* INVESTMENTS BY MATURITY&YIELD* Local Agency Investment Fund ICalTrust/MMF LAIF/CT/MMF $ 161,528,143 Federal Home Loan Bank FHLB $ 49,000,000 LAIF 1 CALTRUST/MMF(1 day) 0.400% $ 161,528,143 Federal Home Loan Mortgage Corp FHLMC $ 32,625,000 01-12 months 1.077% $ 22,150,000 Federal National Mortgage Assn FNMA $ 28,900,000 13-36 months 1.107% $ 135,199,000 Federal Farm Credit Bank FFCB $ 53,625,000 37-60 months 1.765% $ 147,957,000 Federal Agricultural Mortgage Corp FAMCA $ 37,849,000 TOTAL PAR VALUE $ 466,834,143 Corporate Notes CORP $ 50,987,000 U.S.Treasury Notes UST $ 14,000,000 'Investments managed by Trustees&School Bond Proceeds not included. Tennessee Valley Authority TVA $ 5,000,000 Final maturity dates are used;probable call dates are not considered. Supranational SUPRA $ 3,000,000 Certificates of Deposit(Collateralized/Negotiable) CDs $ 4,750,000 Municipal Bonds MUNI $ 25,570,000 $ 466,834,143 1% 1%1% 5% 3% E 11% tW 4t •LAIF/CALTRUST/MMF(1 day) •LAIF/CTjMMF u FHLB FHLMC •FNMA •01-12 months *FFCB -FAMCA •CORP •UST 13-36 months *TVA •SUPRA •CDs •MUNI =37-60 months ^..,_................ -.-.....,«...^,..s o&:e..s":x�..:e�'a e "_ >.-..a........^.,»,...,. ,. ..e as tY`••:>stW:>:[s> .,>.E.F•_".¢.>.>:i<s $......:_a. c.I,i. r..2 ^s^..,,..-.,.3;:,,e.._:,aaa, ¢ ....<.^...<.>.>.>_..^s^.^.<.^.,.,.>.,>E^.^........[:.........^....^..n...,E^..,.,.a e, :.a...e a..8......E ..,.'a. 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It is intended to demonstrate cash flow trends and establish a baseline for the portfolio,enabling medium term investments. 4 BUTTE COUNTY TREASURER'S INVESTMENT REPORT MANAGED PORTFOLIO-DETAILS OF SECURITIES FIELD December 31,2015 Cra86 Rs0iDg P.,.h.sa Maturity Yi.id fu CCurit Da.,IpOury S&P Moody's Patch D„ ),SUgg MatU6BL fWa6 Pat a „u Pain M4 C a1 Carrisd° 3 t315PW48'a FARMER MAC NR NR NR 5!972002 111920 1 6 50.675 1,400,,000 00 WAP° � 1 400,421.40 A 400,090000 166764004 r✓f0 CHE'VRON,CORP AA Aso NH 1013020'14 6/242016 0.4315 '10,000.000.00 171 10,002,02000 10,021.726.94 361SOX1Jt31 GE CAPITAL FYNANCIAL INC CD OR NR NR 8/192011 80'192016 1.850 2'6000!0.00 �,' 252,183.03 250,000,00 3133EES>C4 1. FEDERAL.FARM CREDIT BANK AA- A. AAA W90(115 '91602016 0.610 5,000,001.00 K" 4,984,735.00 4,996 043 20 87284AXX'I n/° C17 BANK NR NR NR 9182017 9!812015 "1.801 250.000.00 0 252,2.57..29 250,05000 36157P$P5 ,. GE CAPITAL RETAIL BANK NR NR NR 101172013 10!112016 1.400 250001.06 "' 251049.71 250.000.On 880591 DS8 7,,' TENNESSEE VALLEY AUTHORITY AA+ AAa AAA '1272012 11/1512016 0970 5000001.001,2 5984,151.00 5,151,77408 31315PYB9 FARMER MAC NR NR NR U30QD12 1E12917 1.150 30100,000.00 3016,239 DO 3,006.770,55 3133EELR4.Q FEDERAL FARM CREDIT BANK AA- Aa.a AAA 2W2015 11272007' 0.635 2629,001.00 11,,✓1 2008,030.38 2924,71578 3137EA.DCO^m FREDDIE MAC AA+ At. AAA 211472113 30812077 0.753 5,000.000.00 v" 5,QQ2,8AOp0 5014„393.75 575B2PM80 a' MASSACHUSETTS ST OO LTD TXBL. AA- Aa1 AA. 47212013 UV2017 aToo 2,000,000.00 w 4,998,950.00 2005,409,25 8923STBH7 a" TOYOTA MOTOR CREDIT CORP AA- Aa3 A 31138015 51182017 1.000 4,500,000.00 w, 4,491,972.00 4,907,624.14 3133EA4H5•1" FEDERAL.FARM CREDIT'BANK AA.+ Aa1a NR 1'.W1512012 7111/2017 0.842 5,000,000,00 Dry4 4,976,930.00 4898,380.04 45905URF3 ryH"" INTL BK RECON&DEVELOP AAA Aa. NH 221072015 7117201'.7 0.860 3,4100©0000 w�"'u 2994.651 00 3000,441..98 3135GOZF3 fuf'' FEDERAL NATL MORTGAGE ASSN AA+ Aaa AAA 41642015 70282017 0630 5,000,000.00 "'. 4,91.00 5,012,564.72 3130A3TK0 FEDERAL HOME LOAN BANK AA- At. NR 121312014 98212017 1.070 5,000,000..Do'I,,P4 5,008,645,90 4.998,DEC..57 3133EEOX1'..,6 FEDERAL FARM CREDIT BAND AA- Aaa AAA 22512015 42512017 1.000 3,000,000.00 ,„r"01 2,990;044.00 3,000,000 no 3134G5JJ5 ,1. FEDERAL HOME LOAN.MTG CORP AA.+ At. RAA 98912074 425/2017 1..100 1,&25!100.00 9048,337.75 0925,000.00 3133SIB20 I,id''n FEDERAL.HOME LOAN:BANK AA- Hoa NR 12/192012 12AU20170.857 5,000,000,00 'H,7�,. 4,967,380,00 4,989,870,32 3131ECS45'u"' FEDERAL FARM CREDIT BANK AA* Aaa AAA 121262002 127202617 0,910 16,000,000.00'05"7 10.,000,50000 9,908,013,89 31315PTS5. FARMER MAC NR NK OR 11112073 /272772017 0..903 4265000.00 '„p 4253974.99 4,264,743.53 31 31 5067 4`, FARMER MAC NR NR NR V812015 1!02018 TODD 3180 000.00 ",d'1,. 3,184.302.48 3,184,000.00 3737EA0N6 0' FHLMC 75 DIMS AA. Aa. AAA 71142013 7/9202018 0.920 5000,000.00 " 4,954,115,09 4,983168.30 31315P640'w`d FARMER MAC NR NR NR 2125/2013 1848018 1.022 1,000.000.00 ',N 1,000,243.00 998949.38 3134G34K3 a"qq FEDERAL.HOME LOAN MTG CORP AA- Aas AAA 11302013 1/302098 1000 5,000,000,00 Y� 4,079,670,00 5,000,000,00 3135GOUEI 0f FEDERAL NAIL MORTGAGE ASSN AA.- Aaa AAA 2!1412013 2104/2018 1000 10,000,00000 aM' 9,945;91000 1000100 48124J$Z2 0� UP MORGAN CHASE BANK NA NR NR NR 12012013 28022018 1.125 250,000.00'*"Y 250,06110.00 250,09000 3133ECGC2-.i", FEDERAL FARM CREDIT BANK AA- Ase AAA 311371013 2125/2068 1.086 5,00000000 4,971,215,00 5,000,000 00 31316POM4,fp FARMER MAC NR NR NR 3772013 3102018 0.940 10,000,000.00 q,7° 9,948,960.00 9,899.956,35 31315Pb251/,r' FARMER MAC NR NR NR 5/1512013 3!52018 0.976 500000000 'f 4,535,065..00 4,978,023.25 64952WBZ5',Y NEW YORK LIFE GLOBAL FDG AAe. Aa AAA 412X02015 427120i8 1.2'.30 5A00.k9W.Wq w 4,959.290.00 5,O07,972.96 02'00BLON6'y ALLY BANK NR NR NR 01302015 413AV2018 1-190 25000000 1H"� 250,000,00 250,000.00 3133ECNY0 ;!` FEDERAL FARM CREDIT BANK AA+ Aaa AAA 510/2013 5182016 0.986 5,000,000.00 iy""" 5,000,335..00 4,906,882.64 3134C346W4„@° FEDERAL HOME LOAN MTG CORP AA- Aaa AAA 511912013 51292118 1090 5,000,000.01 4,985,715.00 5;000,000.00 17275RAU6 v4 CISCO SYSTEMS INC AA- A7 NIR 10/122015 ell 932018 1.365 5,000,00000 5,019:530.00 5,034,204.07 89233TCP6 1", . TOYOTA MOTOR CREDI r CORP AA- Aa3 A 0!182015 7/132098 1,600 5,001,00000 �I1/' 4,984,715.00 4;993,80021 313OA45'X3 o" FEDERAL HOME'.LOAN BANK AA+ Aaa NR 22712015 02412018 1,350 5,1100,000.00 +. 5„002,110..00 5,000,000.00 38,47J3E0'nP4 GOLDMAN SACHS BANK USA. NR NRR NR &272094 W2712118 1.850 7.500D0Wq"µ .. 250,000.00 250,060.00 02587CAY6 d1* AMERICAN EXPRESS BK FSB NR NR NR 82812014 8/4872098 1.500 250,000.00 „.. 250,000.00 250,00000 7054501 .u/`. SALLIE MAE BANKISALT LKF NR NR NR 1112572013 112072018 2.050 250,000.00'1F" 250,090..00 250.600.00 686184WJ7 ur'1 ORIENTAL BANK NR NR. NR 1247&2015 12172018 1.750 ,25000000 r7 250000.10 250000.00 89236TBB00 TOYOTA MOTOR CREDIT CORP AA- Aa3 A 9118,2005 in 78019 1.875 500000000.xr'" 5009390.00 5032998.03 6500351<8D„"7 NEW YORK ST URSAiN DEV CORP REV AAA Aai AA+ 12/18320/4 3715201'9 '1.980 500000600 L 5.013;95000 5901.473,67 3 1301 V. FEDERAL HOME.LOAN BANK AA, NR NR 429/2015 40298019 0.625' 4,710,000.00 arY4,727;389.70 4,721,074.80 13063CK0.3 +0g,. CALIFORNIAST GO UNPILE TXBL AA- Aa3 A+. 11'.8412014 511120119 1.900, 3000000.00 BIdfS. 3.530,99000 9033385.to 594908AC8 Mo" MICROSOFT CORP AAA Aaa AA- 6282015 6112019 1586 2500000,00 Ip�e7r 7701.770.00 2716528.34 313379EE5 .rl✓' FEDERAL NOME LOAN BANK AA. Aa1a NR &11EI 60148019 1,785 5 010 001.00 .„7r'••"" 5,010,850..00 4,973.650 57 9 N 4,92GS62. UNIV OF CALIFORNIA CA RE M'TXBL. AA Aa2 AA 51242015 71112.019 1,698 3000 ODD.015rE° 4,99665000 5916,488.10 31I315PM71 ./F FEDERAL AERIC MEG CORP NR NR NR 71172014 7117CO19 1.813 5,00000000 ,+",1% 5.094;505..00 4,985,999 44 31315PTD1,,j FARMER MAC NR NR. NR 81252014 823/2019 1.765 5000,00100 ,;+ 4,994.285.00 4,97'1,282,67 31301,f'+t FEDERAL HOME LOAN BANK ". Aaa NR B02B72014 81268010 0.820 3 000,0901.00 F"'1 3,009,150.00 3,007,638 89 68389XAX3 ORACLE CORP AA- A4 A+ 10!82005 10182119 1.8546 4162,000,00 s. 4,201.593 11 4222,943.34 31.33EEBN9.4 FEDERAL'FARM CREDIT BANK AA+ ADS AAA 170122014 111122019 1004 5000000.861�, ,. 5,029,1 95 00 5,000,000.00 d+ � 3174G32Z2 p,d' FEDERAL(HOME LOAN MTG CORP AA. Aa. AAA 4172015 11802020 TWO 5,000,000.00 ./ 4,936,4&1.00 4,994,154 64 07587DKE3'4e, AMERICAN EXPR CENTURION NR INR NR 11901'2005 1/312020 1.450 250,00001*,r'A 250,000.00 25000000 3136G2CPU FEDERAL NATL MORTGAGE.ASSN AA+ An AAA 91302015 1/3012011 1.'700 4,250,000.00 "+'+ 4.255,291,25 4,250.000.00 3104G3C99 FEDERAL ITEMS LOAN MTG CORP AA, A.. AAA. 20132015 2!938020 1.800 6,000000.00^Ve' 6.1016.546,00 5,964.679..00 80281SEMO ,�0 TEXAS ST TECH UNIV REM AA Art AA, 1715'2075 21158020 1.700 '2570,000.00 ,fib 2,584,188.40 2,501.844.29 31.391 V1FEDERAL HOME LOAN BANK AA- A­ NR 31=015 3f308W20 1.800 5,000,00000 bP5.071,220..00 5.000,000 00 91282BJ84.,111 US TREASURY NOTE AA- Aas AAA. 4/62015 3J3117.W✓O 1.330 5,000,ODD 00 '1, 4,932,22500 5,008,059,50 93063C3O4:0 CALIFORNIA ST GO NNLTD TXBL AA,, Aa3 A+ 41292015 Clio 0 1.680 5910000.01 4,544,850.00 5,024,348.76 3133017,13�n FEDERAL!FARM CREDIT BANK AA* Aas AAA 41132015 4763/2020 1:680 4ODO 00000 a1rY 3958,984.00 4001010.00 7127CCI' PEOPLES UNITED BANK NA NR NR NR 405201'.5 41152020 1.800 250096.00'w,^'1 250,000..00 2500100,00 313/04404 11''1 FEDERAL HOME k.OAN BANK AA Aas NR 4222015 412212020 1.740 0,100,000.00-VIN 1,100,115.50 1,100,00006 0378336DI,,,,Y APPLEINC AA+ A0 NR 512112015, 5/812020 1.892' 9,825,090.00 u01: 9,&03,73870 9,868,759.50 m 7 0 , 4.939 91 3602 8 17 FEDNIERAL NMORTGAGE ASSN AA, At. RAA. S19(20155!198070 1.600 S 800900.00 200 00 5,000,000.00 M143 Al 2828XES Hf U S.TREASURY NOTE. AAa Aaa AAA. 81172015 573}.8020 1,`03 4 000 000.01 3900,936.01 3,999448.25 1133LEU55°a✓` FEDERAL FARM CREDIT BANK AA, Aaa AAA 618f210 781 15 62026 1.850 4,000,000.00 Lr" 5,950,31200 4,0100,000 00 ;404.214X0 0 CAPITAL.ONE BANK IDSA NA NR NR NR 61102015 6!4080N 2..005 250 Q00.01) LO�� 248,890.26 245,890.25 313383HUS FEDERAL HOME LOAN HANK AA Aaa NR 6/527715 8622620 1.780 5000,ODD Do V"µ 4,986;8"20.00 4,993,1620.81 3133/311118 '` FEDERAL HOME LOAN SANK AA Aaa NR 71702015 601272020 1.80E 5,000,00000 1uY 4,98632000 4,988,051..91 3133834H1 1'V" FELB'1,37505120 AA+ Aaa NR' 71232015 679742070 '1.795 921000110 07L., 5,080166.00 5,1Q7,37Q.83 3136G200 FEDERAL HALL MORTGAIGE.A58N AA* Aaa AAA 513(W2015 W308020 2090 465000000 01'"0. 4665,11470 4,550,0,00100 8821172)l1;.Ip"L TEXAS$1'ABM UNIV REV AAA. Aas AAA 817W2015 7112020 1.463 3,000000.00 2,939;23000 2.972.678 Do 3133EFCHB i4 FEDERAL.,FARM CRE011'r BANK. AA- Aaa AAA 97822015 9V&12920 1,550 5000000.00 'tiH"W5012080.00 5000,000100 0558OACW2 Y BMW BANK NORTH AMERICA NR NR NR 9/15/2075 91108020 2.200 250000.00 ''^""µ^ 250,100.00 250,010101 20033AMR4..y� COMENITY CAPITAL BANK NR NR NR 912112015 920.8020 2.250 250,000,010 '.'1r 250.000..010 2$0,000 00 2946724'0'2 1 DISCCVER BANK NR NR NR 102812015 0012612020 2200 250,000NO a„ur1., 2.5001001 250,000:00 14042RBLA-.;11" CAPHALONENA. NR NR NR 11/732015 102832020 2.277 250,000.00�u,C' 24o.695 96 240,69596 912;82SWCO ^ + IJ S TREASURY NOTE AA. Aea. AAA 1101002015 103102020 7.771 W 5,000,000.00 H„1✓�, 4,9'85,350.00 0995,143.09 44854008 9 .310 ELLS FARGO BANK NIA. NR NR NR 0213!2'015 12151241120 1.510 250000.00 ry„0'"5 28E0,0DOD 00 250,000.00 ""Effective Duration:2.346 1.330 304,.806,000.00 304,387,971..60 305,273,962.11 BID. :. U.S.BauN Sa9skaePi09 "VUk--y difto'F-I Trl1'1.11'O C.,t IDar�d d'a.I...c t m.1t,.d v.mlAj- S.,dEU9e P,,WK,a- alyc NUteS: 11,0,,,1 Ap1(ico.¢Oral Mortgage C,,ploratlnn se0,ur 0145 Ara Issued by a U.5.O'ro'G-,--t ag.nay.r,a sre nrt rated- NaQaSahYa CDs ern nd,.Q1ar0,du@ ere 709E-,.d, 5