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HomeMy WebLinkAbout07.22.25 Board Correspondence_ FW_ June 30, 2025 Investment Report and Transaction Reporting for Butte CountyFrom:Clerk of the Board To:Krater, Sharleen; Jessee, Meegan Subject:Board Correspondence: FW: June 30, 2025 Investment Report and Transaction Reporting for Butte County Date:Tuesday, July 22, 2025 11:29:40 AM Attachments:Investment report June 2025.pdf Transaction Reporting June 2025.pdf Please see Board Correspondence From: Patterson, Kiley <KPatterson@buttecounty.net> Sent: Tuesday, July 22, 2025 9:33 AM To: Angela Carpenter; 'Bangor Cemetery District - Theresa Phillips, Trustee' <bangorcemeterydistrict@outlook.com>; Sandoval, Maritza <msandoval@buttemosquito.com>; 'BCOE, Leslie Romero Arana' <lromero@bcoe.org>; 'Bruffett, Jim' <jim_prpd@sbcglobal.net>; 'BUSD Analyn Dyer' <adyer@biggs.org>; 'Butte Co Resource Conservation' <bcrcd@CARCD.org>; 'Butte County Resource Conservation District' <Victoria-Tweedie@CARCD.org>; 'Butte Creek Drainage, Drainage District #2' <westerncan@aol.com>; 'Cahn, Jeff' <orovillemad@yahoo.com>; 'CARD' <finance@chicorec.gov>; 'Christy Patterson, Executive Director, Butte Schools Self-Funded Programs' <cpatters@bsspjpa.org>; 'Compton, Vickie' <vac@avag1.com>; Cyr, Kirsten <kirsten@durhamrec.com>; 'Dehart, Denise' <ddehart@minasianlaw.com>; 'Drainage District #1' <mhinz72@sbcglobal.net>; 'Drainage District #100' <jmarta9673@aol.com>; 'Drainage District #200' <rid@pulsarco.com>; 'Durham Recreation & Park' <districtmanager@durhamrec.com>; Hobbs, Debbie <bookwormto@aol.com>; Knight, Jay <chiconut@gmail.com>; Minasian, Paul <pminasian@minasianlaw.com>; 'Quigley, Cindy' <cquigley@loapud.com>; Ravert, Rochelle <Rochelle@westerncanal.com>; 'Richardson Springs, Carlos Penning' <penningywam@gmail.com>; Parsley, Joanne <rockcreekreclamation@gmail.com>; John Glaspie <oroville.district@att.net>; Spreen, Misty <paracem@jps.net>; Lucas, Steve <SLucas@buttecounty.net>; Angie Cote <GridleyBiggsCemetery@yahoo.com>; Weinreich, Anita <qbqueen@sbcglobal.net>; 'Christy Patterson, Butte County Schools JPA' <cpatters@bcoe.org>; Clerk of the Board <clerkoftheboard@buttecounty.net>; Zepeda, Elizabeth <ezepeda@buttecounty.net>; Gutierrez, Graciela <GGutierrez@buttecounty.net>; 'Heather Naylor, Gridley Unified School District' <hnaylor@gusd.org>; Cook, Holly <HCook@buttecounty.net>; 'Jaclyn Kruger' <jkruger@chicousd.org>; Kidd, Troy <TKidd@buttecounty.net>; Honea, Kory <KHonea@buttecounty.net>; 'Marie Hartman' <MHARTMAN@chicousd.org>; 'Mary Sakuma' <msakuma@bcoe.org>; Merrifield, Catherine <cmerrifield@paradiseprpd.com>; Ramsey, Michael <MRamsey@buttecounty.net>; Moss, Kathy <kmoss@buttecounty.net>; Ritter, Tami <TRitter@buttecounty.net>; Bennett, Robin <rbennett@buttecounty.net>; Sandoval, Maritza <msandoval@buttemosquito.com>; Sanyakul, Soulyphorn <SSanyakul@buttecounty.net>; Schefcik, Joshua <jschefcik@buttecounty.net>; Connelly, Bill <BConnelly@buttecounty.net>; Durfee, Peter <PDurfee@buttecounty.net>; Kimmelshue, Tod <TKimmelshue@buttecounty.net>; Teeter, Doug <DTeeter@buttecounty.net>; Taggart, Kevin <ktaggart@buttecounty.net>; Travis Haskill <thaskill@bcoe.org>; 'William (Jim) Nicholas, Director of Business Services' <nicholaswi@butte.edu> Subject: June 30, 2025 Investment Report and Transaction Reporting for Butte County Happy Tuesday! The Treasurer’s Investment Report for the month ending June 30, 2025 is attached for your reference. Additionally, the information provided in the attached “Transaction Reporting June 2025” consists of statements detailing transaction activity for the month. The Butte County investment portfolio yield to maturity for June 2025 was 3.77% with a 566 Average-Days-to-Maturity. For the quarter ending March 31, 2025, the Butte County investment portfolio distributed earnings of $16,379,932.98 proportionally to all participants in the investment pool. Average daily balance was $1,199,438,962.30 equating to a quarterly return of 5.418%. If you have any questions, concerns, or comments, please feel free to contact myself or Troy Kidd. Kiley PattersonButte County Assistant Treasurer-Tax Collector Treasurer-Tax Collector’s Department 25 County Center Drive, Suite 125, Oroville, CA 95965 T: 530.552.3731| F: 530.538.6450 Twitter | Facebook | YouTube | Pinterest Treasurer – Tax Collector Troy Kidd, Treasurer-Tax Collector Treasury Division 25 County Center Drive, Suite 125 T: 530.552.3730 Oroville, California 95965-3384 F: 530.538.6450 buttecounty.net/ttc July 21, 2025 Butte County Board of Supervisors Butte County Chief Administrative Officer Investment Pool Oversight Committee The attached statements showing investment transactions for the month ending June 30, 2025 are submitted in accordance with Government Code, and with Local Agency Investment Guidelines as provided by the California Debt and Investment Advisory Commission. The Investment Policy effective July 1, 2024 includes a provision for monthly reporting of investment transactions to the Board of Supervisors. In addition to the above, Investment Reports are submitted on a monthly basis. Quarterly Investment Reports are also made available on the Treasurer-Tax Collector website at http://www.buttecounty.net/ttc. If you have any questions regarding investment reporting, please feel free to contact me, or Kiley Patterson, at 530.552.3730. Yours truly, Troy Kidd Troy Kidd Butte County Treasurer-Tax Collector Monthly Investment Transaction Reporting Table of Contents Local Agency Investment Fund • Butte County Treasurer • Butte Community College District • Paradise Unified School District • Oroville Union School District • Chico Unified School District • Butte County Office of Education CalTrust • Chico Unified School District CAMP Treasury Curve Money Market US Bank Safekeeping Acct Name:BUTTE COUNTY TREASURER SUMMARY - USD Page 1 Acct Number:XXXXXXX638 For period 06/01/2025 - 06/30/2025 ACTIVITY - Settled/Cleared Cash Activity Transaction Type Amount Your Sales Representative is:SAFEKEEPING OPERATIONS Purchases 0.00 (800) 236-4221 Purchase Reversals 0.00 Sales 0.00 Statement Contents Sale Reversals 0.00 *Summary Withdrawals 0.00 *Activity - Settled/Cleared Cash Activity Receipts (11,250,000.00) *Activity - Projected Activity for Next Statement Period Deliveries 0.00 *Holdings Principal Reversals 0.00 *Cash Flow Projections Interest 2,074,900.00 Interest Reversals 0.00 Interest Adjustments 0.00 Maturities 22,500,000.00 Calls 0.00 Puts 0.00 Paydowns 0.00 Paydown Adjustments 0.00 Payups 0.00 Payup Adjustments 0.00 Cash Dividends 0.00 Balance Changes 0.00 Stock Dividends 0.00 Closeouts 0.00 Closeout Dividends 0.00 Net Activity 13,324,900.00 HOLDINGS - Custody Category Par/Shares Original Face Principal Cost Market Value Treasury Obligations 251,250,000.00000 251,250,000.00000 245,344,638.70 249,473,110.01 US Government Agency Securities 404,750,000.00000 404,750,000.00000 401,691,972.50 402,487,847.20 Non US Government Agency Securities 206,190,000.00000 206,190,000.00000 201,463,064.50 204,147,212.59 Corporate Securities 195,629,000.00000 195,629,000.00000 188,614,955.77 192,606,752.47 Municipal Securities 200,225,000.00000 200,225,000.00000 191,471,824.95 194,225,406.35 Account Name:BUTTE COUNTY TREASURER SUMMARY - USD Page 2 Account Number:XXXXXXX638 For period 06/01/2025 - 06/30/2025 HOLDINGS - Custody Category Par/Shares Original Face Principal Cost Market Value Total Custody Holdings 1,258,044,000.00000 1,258,044,000.00 1,228,586,456.42 1,242,940,328.62 Acct Name:BUTTE COUNTY TREASURER ACTIVITY - USD Page 3 Acct Number:XXXXXXX638 Settled/Cleared Cash Activity For period 06/01/2025 - 06/30/2025 Date Activity Description Rate Par/Shares Security ID Amount Ticket Maturity Price/NAV 06/02/2025 Interest US TREASURY NOTES 2.625 91282CET4 13,125.00 392228697 2.625%05/31/27 05/31/2027 06/02/2025 Interest FLORIDA ST BRD OF EDU PUBLIC .550 34153QUD6 13,750.00 799014800 TXLB-REF-SER D GO 06/01/2025 06/02/2025 Maturity FLORIDA ST BRD OF EDU PUBLIC .550 34153QUD6 5,000,000.00 799014800 TXLB-REF-SER D GO 06/01/2025 06/02/2025 Interest Federal Agricultural Mortgage 4.460 31424WCL4 111,500.00 819030450 SNR NTS USD (SEC REGD) 12/01/2027 06/02/2025 Interest JOHNSON & JOHNSON 4.800 478160CU6 120,000.00 819031550 SR GLBL NT4.8%29 06/01/2029 06/02/2025 Interest MARYLAND ST N/C 4.490 574193WV6 112,250.00 819031641 GO LOC FACS LN B 2024 06/01/2028 06/02/2025 Interest MARYLAND ST N/C 4.440 574193WW4 111,000.00 819031642 GO LOC FACS LN B 2024 06/01/2029 06/02/2025 Interest VIRGINIA ST GO 1.060 9281094F1 13,250.00 931000311 GO REF TAXABLE BDS 2020B 06/01/2028 06/02/2025 Interest UNITED STATES TREAS NTS 4.875 91282CKS9 121,875.00 931002701 4.875%05/31/26 05/31/2026 06/02/2025 Interest UNITED STATES TREAS NTS 4.875 91282CKS9 121,875.00 931002702 4.875%05/31/26 05/31/2026 06/02/2025 Interest UNITED STATES TREAS NTS 2.750 91282CES6 89,375.00 931004257 2.75%05/31/29 05/31/2029 06/10/2025 Interest INTER-AMERICAN DEV BK 2.980 45818WED4 89,400.00 392225429 FR 2.98%061027 06/10/2027 06/10/2025 Interest FEDERAL HOME LOAN MTG CORP .700 3134GVB56 26,250.00 751005081 06/10/2020 06/10/2025 06/10/2025 Maturity FEDERAL HOME LOAN MTG CORP .700 3134GVB56 7,500,000.00 751005081 06/10/2020 06/10/2025 Acct Name:BUTTE COUNTY TREASURER ACTIVITY - USD Page 4 Acct Number:XXXXXXX638 Settled/Cleared Cash Activity For period 06/01/2025 - 06/30/2025 Date Activity Description Rate Par/Shares Security ID Amount Ticket Maturity Price/NAV 06/10/2025 Interest JOHN DEERE CAPITAL CORPORATION 2.650 24422ETH2 132,500.00 819031343 FR 2.65%061026 06/10/2026 06/12/2025 Receipt Federal Agricultural Mortgage 4.000 11,250,000.00000 31424WD58 (11,250,000.00) 842019826 SNR NTS USD (SEC REGD) 06/12/2030 100.000000 06/16/2025 Interest FEDERAL HOME LOAN MTG CORP .500 3134GXGW8 12,500.00 392214208 09/15/2025 09/15/2025 06/16/2025 Interest FEDERAL HOME LOAN BANKS 1.450 3130AMQ39 36,250.00 819030409 CONS BD 1.45%28 06/14/2028 06/16/2025 Interest US TREASURY NOTES 2.875 91282CEU1 143,750.00 931001171 2.875%06/15/25 06/15/2025 06/16/2025 Maturity US TREASURY NOTES 2.875 91282CEU1 10,000,000.00 931001171 2.875%06/15/25 06/15/2025 06/17/2025 Interest INTER-AMERICAN DEV BK .800 45818WDH6 20,000.00 392220768 06/17/2026 06/23/2025 Interest FEDERAL FARM CR BKS 3.750 3133EN4S6 187,500.00 392225782 CONS BD 3.75%27 12/22/2027 06/23/2025 Interest FEDERAL FARM CR BKS 3.875 3133EN4X5 193,750.00 392225788 CONS BD 3.875%26 12/23/2026 06/26/2025 Interest INTERNATIONAL BANK RECON & DEV 4.500 45906M4E8 225,000.00 392228715 NT 4.5%28 06/26/2028 06/30/2025 Interest US TREASURY NOTES 3.875 91282CGC9 155,000.00 392225818 3.875% NOTE 12/31/27 12/31/2027 06/30/2025 Interest FEDERAL NATL MTG ASSN 1.000 3135GA6Q9 25,000.00 819030408 CALL 1%122927 12/29/2027 Net Activity 13,324,900.00 Treasurer – Tax Collector Troy Kidd, Treasurer-Tax Collector Treasury Division 25 County Center Drive, Suite 125 T: 530.552.3730 Oroville, California 95965-3384 F: 530.538.6450 Treasurer - Tax Collector | Butte County, CA July 21, 2025 Butte County Board of Supervisors Butte County Chief Administrative Officer Investment Pool Oversight Committee The attached investment report for June 30, 2025, is submitted in accordance with the Butte County Statement of Investment Policy dated July 1, 2024. In compliance with Government Code, Section 53646, the Investment Report demonstrates that sufficient liquidity is available to meet anticipated expenditures during the next six months. All investments are in compliance with this policy. The Butte County investment portfolio yield to maturity for June 2025 was 3.77% with a 566 Average- Days-to-Maturity. For the quarter ending March 31, 2025, the Butte County investment portfolio distributed earnings of $16,379,932.98 proportionally to all participants in the investment pool. This investment program generates millions of dollars of additional operating revenue for the County, schools, and special districts. Average daily balance was $1,199,438,962.30 equating to a quarterly return of 5.4180%. Earnings, net of Treasury and Auditors costs, are apportioned quarterly on a cash basis causing returns to fluctuate each quarter. For fiscal year 23/24 net annualized yield was 3.10% based on a $1,129,832,100 average daily balance for all money in the County Treasury with $35,326,700 of distributed earnings. NOTE: Fair values are trending lower than cost carried due to an increasing yield environment. Investments are marked to market monthly based on a current market price determined by U.S. Bancorp Investments. Copies of statements reflecting investment and cash management transactions are provided to the Board of Supervisors monthly and are available upon request. Quarterly Investment Reports are made available on the Treasurer-Tax Collector website at Treasurer's Investment Reports | Butte County, CAH Respectfully, Troy Kidd Troy Kidd Butte County Treasurer-Tax Collector cc: Butte County Auditor-Controller Butte County Special Districts (Quarterly) Butte County Board of Supervisors Butte-Glenn Community College Butte County District Attorney Chico Unified and Gridley Unified School Districts Butte County Schools-JPA Taggart, Kevin– Butte County Deputy Administrative Officer Butte County Sheriff Sanyakul, Soulyphorn – Butte County Internal Auditor Butte County Superintendent of Schools BUTTE COUNTY TREASURER'S INVESTMENT REPORT Investment Book Value Fair Value (FV)Percentage (FV/CC) LAIF 5,266,276.11$ 5,272,586.74$ 100.1198310% CALTRUST 239,353.38$ 239,353.38$ 100.0000000% CAMP 110,591,298.33$ 110,591,298.33$ 100.0000000% TREASURY CURVE 165,000,000.00$ 165,000,000.00$ 100.0000000% Corporate-Supranationals 202,905,457.60$ 204,147,212.59$ 100.6119870% Municipal Bonds 192,603,834.33$ 194,225,406.35$ 100.8419209% Corporate Notes 191,085,678.76$ 192,606,752.47$ 100.7960166% US Agency 403,157,609.52$ 402,487,847.20$ 99.8338708% Treasury Notes 248,656,189.82$ 249,473,110.01$ 100.3285340% Operating Accounts 22,659,238.14$ 22,659,238.14$ 100.0000000% School Bonds 174,407,970.09$ 174,521,579.43$ 100.0651400% MANAGED PORTFOLIO TOTAL 1,716,572,906.08$ 1,721,224,384.64$ 100.2709747% Fair Value as of 06/30/25 Butte County Pooled Treasury Fund Name Face Amount/Shares Market Value Book Value % of Portfolio YTM @ Cost Days To Maturity CAMP Short Term 110,591,298.33 110,591,298.33 110,591,298.33 6.44 4.40 1 Corporate - Supranationals 206,190,000.00 204,147,212.59 202,905,457.60 11.82 3.68 895 Corporate Notes 195,629,000.00 192,606,752.47 191,085,678.76 11.13 3.88 701 LAIF 5,266,276.11 5,272,586.74 5,266,276.11 0.31 4.27 1 Municipal Bonds 200,225,000.00 194,225,406.35 192,603,834.33 11.22 3.62 894 None 165,239,353.38 165,239,353.38 165,239,353.38 9.63 4.17 1 Operating Accounts 22,659,238.14 22,659,238.14 22,659,238.14 1.32 0.00 1 School Bonds 174,407,970.09 174,521,579.43 174,407,970.09 10.16 4.32 1 US Agency 404,750,000.00 402,487,847.20 403,157,609.52 23.49 3.29 802 US Treasury 251,250,000.00 249,473,110.01 248,656,189.82 14.49 4.03 645 Total / Average 1,736,208,136.05 1,721,224,384.64 1,716,572,906.08 100.00 3.77 566 Troy Kidd, Treasurer-Tax Collector Investment Policy Compliance The attached investment report is submitted in accordance with the Butte County Statement of Investment Policy dated July 1, 2024. All investments are in compliance with this policy. Investments are marked to market monthly based on a current market price determined by U.S. Bancorp Investments. Sufficient liquidity is available to meet anticipated expenditures during the next six months. BUTTE COUNTY Treasurer's Investment Repor t June 30, 2025 Troy Kidd USD BIGGS 2024 SERIES A LAIF4007 LAIF 4007 Butte Office of Education LGIP 5,853,773.16 3/6/2025 4.27 5,853,773.16 5,853,773.16 100.12 4.27 5,860,787.79 7,014.63 3.36% NR NR 0 1 1 0 3.36% 7,014.63 5,860,787.79 4.27 5,853,773.16 5,853,773.164.275,853,773.16Sub Total USD BIGGS 2024 SERIES A USD Butte-Glenn 2016 C GO Bond LAIF4001 LAIF 4001 Butte CC LGIP 13,833,249.26 6/17/2022 4.27 13,833,249.26 13,833,249.26 100.12 4.27 13,849,825.78 16,576.52 7.93% NR NR 0 1 1 0 7.93% 16,576.52 13,849,825.78 4.27 13,833,249.26 13,833,249.264.2713,833,249.26Sub Total USD Butte-Glenn 2016 C GO Bond USD Butte-Glenn 2016B Go Bond LAIF4001 LAIF 4001 Butte CC LGIP 47,062.66 8/12/2019 4.27 47,062.66 47,062.66 100.12 4.27 47,119.06 56.40 0.03% NR NR 0 1 1 0 0.03% 56.40 47,119.06 4.27 47,062.66 47,062.664.2747,062.66Sub Total USD Butte-Glenn 2016B Go Bond USD CHICO 2012 Series C LAIF4006 LAIF 4006 Chico USD LGIP 32,766,000.00 5/7/2025 4.27 32,766,000.00 32,766,000.00 100.12 4.27 32,805,263.83 39,263.83 18.79% NR NR 0 1 1 0 18.79% 39,263.83 32,805,263.83 4.27 32,766,000.00 32,766,000.004.2732,766,000.00Sub Total USD CHICO 2012 Series C USD Chico 2016 C Bond LAIF4006 LAIF 4006 Chico USD LGIP 21,617,002.48 8/17/2021 4.27 21,617,002.48 21,617,002.48 100.12 4.27 21,642,906.35 25,903.87 12.39% NR NR 0 1 1 0 12.39% 25,903.87 21,642,906.35 4.27 21,617,002.48 21,617,002.484.2721,617,002.48Sub Total USD Chico 2016 C Bond USD CHICO 2024 Series A CALTRUST1910 CalTrust MM 79,600,000.00 5/7/2025 4.37 79,600,000.00 79,600,000.00 100.00 4.37 79,600,000.00 0.00 45.64% NR NR 0 1 CUSIP Face Amount / Shares Settlement DateDescription YTM @ Cost Cost Value Book Value YTM @ Market Market Price Market Value Accrued Interest Unre. Gain/Loss % Portfolio Credit Rating Credit Rating Duration To Maturity Days To Call/Maturity Date: 6/30/2025School Bond Proceeds Portfolio Holdings by Portfolio Name Butte County 1 0 45.64% 0.00 79,600,000.00 4.37 79,600,000.00 79,600,000.004.3779,600,000.00Sub Total USD CHICO 2024 Series A USD Durham 2021 Series B Bond LAIF4007 LAIF 4007 Butte Office of Education LGIP 1,180,941.47 1/20/2021 4.27 1,180,941.47 1,180,941.47 100.12 4.27 1,182,356.60 1,415.13 0.68% NR NR 0 1 1 0 0.68% 1,415.13 1,182,356.60 4.27 1,180,941.47 1,180,941.474.271,180,941.47Sub Total USD Durham 2021 Series B Bond USD Durham 2022 C Bond LAIF4007 LAIF 4007 Butte Office of Education LGIP 962,728.16 3/30/2022 4.27 962,728.16 962,728.16 100.12 4.27 963,881.81 1,153.65 0.55% NR NR 0 1 1 0 0.55% 1,153.65 963,881.81 4.27 962,728.16 962,728.164.27962,728.16Sub Total USD Durham 2022 C Bond USD Durham 2024 A LAIF4007 LAIF 4007 Butte Office of Education LGIP 8,855,451.25 3/13/2025 4.27 8,855,451.25 8,855,451.25 100.12 4.27 8,866,062.83 10,611.58 5.08% NR NR 0 1 1 0 5.08% 10,611.58 8,866,062.83 4.27 8,855,451.25 8,855,451.254.278,855,451.25Sub Total USD Durham 2024 A USD Gridley 2022 Series B LAIF4007 LAIF 4007 Butte Office of Education LGIP 4,128,650.33 2/12/2025 4.27 4,128,650.33 4,128,650.33 100.12 4.27 4,133,597.73 4,947.40 2.37% NR NR 0 1 1 0 2.37% 4,947.40 4,133,597.73 4.27 4,128,650.33 4,128,650.334.274,128,650.33Sub Total USD Gridley 2022 Series B USD Paradise 2021 Series A Bond LAIF4003 LAIF 4003 Paradise USD LGIP 132,795.17 2/3/2021 4.27 132,795.17 132,795.17 100.12 4.27 132,954.30 159.13 0.08% NR NR 0 1 1 0 0.08% 159.13 132,954.30 4.27 132,795.17 132,795.174.27132,795.17Sub Total USD Paradise 2021 Series A Bond USD Paradise 2021 Series B Bond CUSIP Face Amount / Shares Settlement DateDescription YTM @ Cost Cost Value Book Value YTM @ Market Market Price Market Value Accrued Interest Unre. Gain/Loss % Portfolio Credit Rating Credit Rating Duration To Maturity Days To Call/Maturity Date: 6/30/2025School Bond Proceeds Portfolio Holdings by Portfolio Name Butte County LAIF4003 LAIF 4003 Paradise USD LGIP 122,700.49 3/31/2022 4.27 122,700.49 122,700.49 100.12 4.27 122,847.52 147.03 0.07% NR NR 0 1 1 0 0.07% 147.03 122,847.52 4.27 122,700.49 122,700.494.27122,700.49Sub Total USD Paradise 2021 Series B Bond USD Paradise 2022 Series C Bond LAIF4003 LAIF 4003 Paradise USD LGIP 287,251.91 1/10/2023 4.27 287,251.91 287,251.91 100.12 4.27 287,596.13 344.22 0.16% NR NR 0 1 1 0 0.16% 344.22 287,596.13 4.27 287,251.91 287,251.914.27287,251.91Sub Total USD Paradise 2022 Series C Bond USD Paradise 2024 Series D Bond LAIF4003 LAIF 4003 Paradise USD LGIP 106,757.66 9/5/2024 4.27 106,757.66 106,757.66 100.12 4.27 106,885.59 127.93 0.06% NR NR 0 1 1 0 0.06% 127.93 106,885.59 4.27 106,757.66 106,757.664.27106,757.66Sub Total USD Paradise 2024 Series D Bond USD Thermalito 2024 Series A LAIF4007 LAIF 4007 Butte Office of Education LGIP 4,913,606.09 5/8/2025 4.27 4,913,606.09 4,913,606.09 100.12 4.27 4,919,494.11 5,888.02 2.82% NR NR 0 1 1 0 2.82% 5,888.02 4,919,494.11 4.27 4,913,606.09 4,913,606.094.274,913,606.09Sub Total USD Thermalito 2024 Series A TOTAL PORTFOLIO 174,407,970.09 4.32 174,407,970.09 174,407,970.09 4.32 174,521,579.43 113,609.34 100.00% 0 1 CUSIP Face Amount / Shares Settlement DateDescription YTM @ Cost Cost Value Book Value YTM @ Market Market Price Market Value Accrued Interest Unre. Gain/Loss % Portfolio Credit Rating Credit Rating Duration To Maturity Days To Call/Maturity Date: 6/30/2025School Bond Proceeds Portfolio Holdings by Portfolio Name Butte County Main Fund Allocation Main Fund Market Value 6/28/2024 % of Portfolio 6/28/2024 Market Value 6/30/2025 % of Portfolio 6/30/2025 CAMP Short Term 39,656,935.20 2.87 110,591,298.33 7.26 CAMP TERM 60,000,000.00 4.34 0.00 0.00 CD Negotiable 492,897.73 0.04 0.00 0.00 Corporate - Supranationals 197,138,208.09 14.27 204,147,212.59 13.40 Corporate Notes 188,998,094.19 13.68 192,606,752.47 12.64 LAIF 5,053,248.46 0.37 5,272,586.74 0.35 Municipal Bonds 156,463,274.85 11.33 194,225,406.35 12.74 US Agency 486,481,996.79 35.21 402,487,847.20 26.41 US Treasury 247,289,141.78 17.90 249,473,110.01 16.37 None 0.00 0.00 165,239,353.38 10.84 Total / Average 1,381,573,797.09 100.00 1,524,043,567.07 100.00 Portfolio Holdings as of 6/28/2024 Portfolio Holdings as of 6/30/2025 Market Value Source: US Bank Safekeeping Begin Date: 6/28/2024, End Date: 6/30/2025Actively Managed Portfolio Distribution by Main Fund - Market Value Butte County Maturity Range Allocation Maturity Range Market Value 6/28/2024 % of Portfolio 6/28/2024 Market Value 6/30/2025 % of Portfolio 6/30/2025 0-1 Month 82,721,445.14 5.99 334,035,588.00 21.92 1-3 Months 81,220,252.82 5.88 80,677,892.40 5.29 3-6 Months 31,201,403.51 2.26 28,605,484.80 1.88 6-9 Months 78,837,532.21 5.71 86,558,743.91 5.68 9-12 Months 91,999,800.07 6.66 59,077,655.30 3.88 1-2 Years 297,697,431.88 21.55 262,615,847.59 17.23 2-3 Years 234,020,487.41 16.94 256,125,597.79 16.81 3-4 Years 231,556,841.57 16.76 251,568,180.29 16.51 4-5 Years 252,318,602.48 18.26 164,778,576.99 10.81 Total / Average 1,381,573,797.09 100.00 1,524,043,567.07 100.00 Portfolio Holdings as of 6/28/2024 Portfolio Holdings as of 6/30/2025 Market Value Source: US Bank Safekeeping Begin Date: 6/28/2024, End Date: 6/30/2025Actively Managed Portfolio Distribution by Maturity Range - Market Value Butte County CUSIP/Ticker Description Credit Rating 1 Credit Rating 2 Settlement Date Maturity Date YTM @ Cost Face Amount/Shares Market Value Book Value 459058JL8 IBRD 0.5 10/28/2025 Moodys-Aaa S&P-AAA 2/2/2021 10/28/2025 0.475 10,000,000.00 9,873,081.70 10,001,213.36 45950VPJ9 IFC 0.58 1/15/2026 Moodys-Aaa S&P-AAA 1/15/2021 1/15/2026 0.580 5,000,000.00 4,897,451.35 5,000,000.00 45905U5Y6 IBRD 0.6 2/18/2026-22 Moodys-Aaa S&P-AAA 2/18/2021 2/18/2026 0.600 5,000,000.00 4,874,710.10 5,000,000.00 45818WDA1 IADB 0.8 3/4/2026 Moodys-Aaa S&P-AAA 3/11/2021 3/4/2026 0.837 5,000,000.00 4,891,171.35 4,998,191.97 45818WDH6 IADB 0.8 6/17/2026 Moodys-Aaa S&P-AAA 12/8/2021 6/17/2026 1.208 5,000,000.00 4,845,711.55 4,980,205.52 4581X0DJ4 IADB 2 7/23/2026 Moodys-Aaa S&P-AAA 4/16/2024 7/23/2026 4.890 10,000,000.00 9,792,877.70 9,594,160.59 45818WDJ2 IADB 0.8 8/19/2026 Moodys-Aaa S&P-AAA 8/19/2021 8/19/2026 0.805 5,000,000.00 4,815,214.15 4,999,632.50 459058KB8 IBRD Step 11/6/2026-23 Moodys-Aaa S&P-AAA 11/8/2021 11/6/2026 1.616 5,000,000.00 4,880,780.30 5,000,000.00 4581X0EB0 IADB 1.5 1/13/2027 Moodys-Aaa S&P-AAA 1/13/2022 1/13/2027 1.535 5,000,000.00 4,822,261.15 4,996,644.00 4581X0EB0 IADB 1.5 1/13/2027 Moodys-Aaa S&P-AAA 4/16/2024 1/13/2027 4.764 10,000,000.00 9,644,522.30 9,394,601.82 45818WED4 IADB 2.98 6/10/2027 Moodys-Aaa S&P-AAA 11/7/2022 6/10/2027 4.590 6,000,000.00 5,890,673.34 5,827,505.77 45818WFN1 IADB 4.85 7/19/2027 Moodys-Aaa S&P-AAA 4/26/2024 7/19/2027 4.880 5,000,000.00 5,099,241.50 4,996,842.65 45950VSR8 IFC 4.5 1/12/2028-26 Moodys-Aaa S&P-AAA 1/12/2024 1/12/2028 4.527 10,000,000.00 10,007,588.60 9,992,500.00 45818WEK8 IADB 4.375 2/24/2028-26 Moodys-Aaa S&P-AAA 6/9/2023 2/24/2028 4.480 7,000,000.00 6,990,811.94 6,980,018.41 45906M4E8 IBRD 4.5 6/26/2028-26 Moodys-Aaa S&P-AAA 6/26/2023 6/26/2028 4.500 10,000,000.00 10,005,460.40 10,000,000.00 459058KT9 IBRD 3.5 7/12/2028 Moodys-Aaa S&P-AAA 8/18/2023 7/12/2028 4.470 10,000,000.00 9,915,873.40 9,697,857.14 45950KDD9 IFC 4.5 7/13/2028 Moodys-Aaa S&P-AAA 10/6/2023 7/13/2028 4.775 10,000,000.00 10,202,476.70 9,914,287.71 45818WFL5 IADB 4.7 7/18/2028 Moodys-Aaa S&P-AAA 4/18/2024 7/18/2028 4.730 10,000,000.00 10,249,798.00 9,991,147.06 45818WFL5 IADB 4.7 7/18/2028 Moodys-Aaa S&P-AAA 4/18/2024 7/18/2028 4.624 10,000,000.00 10,249,798.00 10,024,541.18 4581X0DX3 IADB 1.125 7/20/2028 Moodys-Aaa S&P-AAA 1/11/2024 7/20/2028 4.081 9,643,000.00 8,904,774.73 8,740,351.27 459058JZ7 IBRD 1.125 9/13/2028 Moodys-Aaa S&P-AAA 1/2/2024 9/13/2028 3.929 8,547,000.00 7,861,835.13 7,787,741.33 45950VSQ0 IFC 4 1/8/2029 Moodys-Aaa S&P-AAA 1/8/2024 1/8/2029 4.030 10,000,000.00 10,085,230.90 9,989,232.00 45818WEZ5 IADB 4.125 1/29/2029 Moodys-Aaa S&P-AAA 1/29/2024 1/29/2029 4.172 10,000,000.00 10,082,685.60 9,983,192.00 4581X0EN4 IADB 4.125 2/15/2029 Moodys-Aaa S&P-AAA 2/15/2024 2/15/2029 4.361 10,000,000.00 10,098,173.90 9,915,680.00 45950KDH0 IFC 4.25 7/2/2029 Moodys-Aaa S&P-AAA 12/5/2024 7/2/2029 4.100 10,000,000.00 10,149,216.50 10,060,709.87 45818WFT8 IADB 5 7/16/2029-26 Moodys-Aaa S&P-AAA 12/13/2024 7/16/2029 4.803 5,000,000.00 5,015,792.30 5,039,201.45 Corporate - Supranationals 3.701 206,190,000.00 204,147,212.59 202,905,457.60 037833DX5 Apple 0.55 8/20/2025-20 Moodys-Aa1 S&P-AA+2/23/2021 8/20/2025 0.664 5,000,000.00 4,972,481.05 4,997,194.80 478160CN2 Johnson & Johnson 0.55 9/1/2025-20 Moodys-Aaa S&P-AAA 1/14/2021 9/1/2025 0.608 5,000,000.00 4,966,518.10 4,998,569.29 478160CN2 Johnson & Johnson 0.55 9/1/2025-20 Moodys-Aaa S&P-AAA 9/8/2021 9/1/2025 0.694 5,000,000.00 4,966,518.10 4,996,451.50 64952WDW0 New York Life Global 0.85 1/15/2026 Moodys-Aaa S&P-AA+1/20/2021 1/15/2026 0.777 5,000,000.00 4,905,003.15 5,003,569.92 64952WDW0 New York Life Global 0.85 1/15/2026 Moodys-Aaa S&P-AA+9/27/2021 1/15/2026 1.119 5,300,000.00 5,199,303.34 5,286,109.07 24422EVK2 John Deere Capital 0.7 1/15/2026 Moodys-A2 S&P-A 1/22/2021 1/15/2026 0.722 5,000,000.00 4,902,313.35 4,998,915.78 037833EB2 Apple Inc 0.7 2/8/2026-21 Moodys-Aa1 S&P-AA+2/8/2021 2/8/2026 0.712 5,000,000.00 4,890,784.25 4,999,412.00 89236TMD4 TOYOTA 5.2 5/15/2026 Moodys-A1 S&P-A1+5/28/2024 5/15/2026 5.240 5,000,000.00 5,039,293.10 4,998,090.52 04636NAA1 Astrazeneca 1.2 5/28/2026 Moodys-A2 S&P-A 4/16/2024 5/28/2026 5.064 5,000,000.00 4,867,049.70 4,818,937.01 24422ETH2 John Deere 2.65 6/10/2026 Moodys-A1 S&P-A 4/15/2024 6/10/2026 5.131 10,000,000.00 9,856,379.50 9,767,741.94 037833BZ2 Apple 2.45 8/4/2026 Moodys-Aaa S&P-AA+4/16/2024 8/4/2026 4.917 10,000,000.00 9,824,671.10 9,653,826.09 594918BR4 Microsoft 2.4 8/8/2026 Moodys-Aaa S&P-AAA 4/16/2024 8/8/2026 4.877 10,000,000.00 9,822,684.10 9,652,375.00 57636QAG9 Mastercard Inc 2.95 11/21/2026-23 Moodys-Aa3 S&P-A+10/2/2023 11/21/2026 5.129 5,695,000.00 5,611,607.77 5,524,945.99 87612EBM7 TARGET 1.95 1/15/2027 Moodys-A2 S&P-A 4/4/2023 1/15/2027 4.110 5,500,000.00 5,324,361.24 5,281,923.59 742718FV6 PROCTER & GAMBLE1.9 2/1/2027-24 Moodys-Aa3 S&P-AA-2/1/2024 2/1/2027 4.312 7,000,000.00 6,778,264.50 6,686,353.33 594918BY9 Microsoft Corp 3.3 2/6/2027-22 Moodys-Aaa S&P-AAA 12/2/2022 2/6/2027 4.265 8,000,000.00 7,914,137.76 7,859,791.49 037833CR9 Apple 3.2 5/11/2027-27 Moodys-Aaa S&P-AA+5/8/2023 5/11/2027 3.618 5,000,000.00 4,930,539.55 4,961,405.41 742718EV7 PROCTER & GAMBLE2.85 8/11/2027 Moodys-Aa3 S&P-AA-8/18/2023 8/11/2027 4.760 5,000,000.00 4,889,231.95 4,784,797.63 194162AN3 Colgate-Palmolive 3.1 8/15/2027-22 Moodys-Aa3 S&P-A+2/3/2025 8/15/2027 4.354 10,596,000.00 10,412,949.01 10,284,603.08 023135BC9 Amazon 3.15 8/22/2027-27 Moodys-A1 S&P-AA 4/25/2023 8/22/2027 4.100 10,000,000.00 9,829,674.90 9,784,104.05 64952WEY5 NYLIFE 4.85 1/9/2028 Moodys-Aaa S&P-AA+1/17/2023 1/9/2028 4.423 5,000,000.00 5,081,898.55 5,056,892.86 Corporate - Supranationals Corporate Notes BUTTE COUNTY Treasurer's Investment Report Fixed Portfolio Holdings Detail June 30, 2025 CUSIP/Ticker Description Credit Rating 1 Credit Rating 2 Settlement Date Maturity Date YTM @ Cost Face Amount/Shares Market Value Book Value 742718FZ7 Procter & Gamble 3.95 1/26/2028-23 Moodys-Aa3 S&P-AA-5/25/2023 1/26/2028 4.062 5,513,000.00 5,539,338.25 5,496,175.68 037833EC0 Apple 1.2 2/8/2028-27 Moodys-Aaa S&P-AA+5/8/2023 2/8/2028 3.694 5,000,000.00 4,662,241.95 4,659,705.26 931142ES8 Walmart 1.5 9/22/2028-23 Moodys-Aa2 S&P-AA 10/2/2023 9/22/2028 4.978 5,000,000.00 4,627,157.65 4,466,611.73 66815L2Q1 Northwestern Mutal Life 4.71 1/10/2029 Moodys-Aaa S&P-AA+1/10/2024 1/10/2029 4.594 5,000,000.00 5,049,414.05 5,020,480.00 66815L2Q1 Northwestern Mutal Life 4.71 1/10/2029 Moodys-Aaa S&P-AA+4/15/2024 1/10/2029 5.262 3,025,000.00 3,054,895.50 2,966,366.45 6944PL2Z1 Pacific Life 4.9 1/11/2029 Moodys-Aa3 S&P-AA-1/11/2024 1/11/2029 4.798 5,000,000.00 5,079,340.70 5,018,000.00 64952WFF5 New York Life Global 4.7 1/29/2029 Moodys-Aaa S&P-AA+4/22/2024 1/29/2029 5.104 10,000,000.00 10,117,320.40 9,857,425.74 478160CU6 JOHNSON&JOHNSON 4.8 6/1/2029 Moodys-Aaa S&P-AAA 6/3/2024 6/1/2029 4.844 5,000,000.00 5,129,318.25 4,992,111.23 931142EN9 WALMART 3.25 7/8/2029-24 Moodys-Aa2 S&P-AA 7/9/2024 7/8/2029 4.453 10,000,000.00 9,726,282.70 9,519,403.00 037833DP2 Apple 2.2 9/11/2029 Moodys-Aaa S&P-AA+9/13/2024 9/11/2029 3.705 5,000,000.00 4,635,778.95 4,693,389.32 Corporate Notes 3.897 195,629,000.00 192,606,752.47 191,085,678.76 341271AD6 Florida State Board of Admin Finance Corp 1.258 7/Moodys-Aa3 S&P-AA+2/25/2021 7/1/2025 0.729 8,000,000.00 7,999,280.00 8,020,781.61 373385FQ1 State of Georgia 0.52 8/1/2025-20 Moodys-Aaa S&P-AAA 8/27/2020 8/1/2025 0.520 5,000,000.00 4,983,300.00 5,000,000.00 574193TR9 State of Maryland 0.66 8/1/2025 Moodys-Aaa S&P-AAA 8/5/2020 8/1/2025 0.643 10,000,000.00 9,968,700.00 10,000,831.85 574193TR9 State of Maryland 0.66 8/1/2025 Moodys-Aaa S&P-AAA 11/20/2020 8/1/2025 0.549 5,000,000.00 4,984,350.00 5,002,730.34 882724RA7 State of Texas 5 10/1/2025 Moodys-Aaa S&P-AAA 11/2/2020 10/1/2025 0.560 3,750,000.00 3,755,175.00 3,831,999.72 13063DYW2 State of California 3 11/1/2025 Moodys-Aa2 S&P-AA-11/3/2020 11/1/2025 0.700 5,000,000.00 4,978,400.00 5,056,407.68 56781RJK4 Marin CA Community College 3.245 8/1/2026 Moodys-Aaa S&P-AAA 8/16/2021 8/1/2026 0.873 1,545,000.00 1,532,470.05 1,598,680.31 798170AJ5 San Jose Redevelopment Bond3.176 8/1/2026 None S&P-AA 2/1/2024 8/1/2026 4.365 5,000,000.00 4,946,450.00 4,916,360.00 797272QR5 San Diego CA Community College 2.299 8/2/2026 Moodys-Aaa S&P-AAA 8/16/2021 8/2/2026 0.874 1,735,000.00 1,703,128.05 1,771,284.08 13063DRD2 State of California 2.375 10/1/2026 Moodys-Aa2 S&P-AA-4/25/2023 10/1/2026 4.134 1,000,000.00 978,000.00 975,625.73 13063DRD2 State of California 2.375 10/1/2026 Moodys-Aa2 S&P-AA-3/20/2024 10/1/2026 4.682 10,000,000.00 9,780,000.00 9,677,126.24 649791PS3 State of New York 2.36 2/15/2027-19 Moodys-Aa1 S&P-AA+6/8/2022 2/15/2027 3.335 5,000,000.00 4,871,700.00 4,910,373.44 91412HFP3 Univ. of California 1.366 5/15/2027 Moodys-Aa2 S&P-AA 10/5/2023 5/15/2027 5.174 7,420,000.00 7,065,175.60 6,910,417.23 91412HGF4 University of California 1.316 5/15/2027-20 Moodys-Aa2 S&P-AA 4/11/2023 5/15/2027 3.896 5,835,000.00 5,555,853.60 5,559,128.80 91412HJN4 University of California 1.272 5/15/2027-23 Moodys-Aa2 S&P-AA 6/13/2023 5/15/2027 4.383 3,155,000.00 2,998,827.50 2,976,425.21 797272TG6 San Diego Community College 6 8/1/2027 Moodys-Aa1 S&P-AAA 1/23/2025 8/1/2027 4.485 2,700,000.00 2,810,349.00 2,796,471.00 12082SDP6 Burbank Unified School Dist. 1.567 8/1/2027 Moodys-Aa2 None 12/6/2022 8/1/2027 4.520 2,555,000.00 2,428,348.65 2,386,566.77 762223MK8 State of Rhode Island 1.35 8/1/2027 Moodys-Aa2 S&P-AA 11/30/2023 8/1/2027 4.605 4,095,000.00 3,882,551.40 3,791,539.11 13063DK49 State of California 1.45 10/1/2027 Moodys-Aa2 S&P-AA-4/25/2023 10/1/2027 4.013 2,000,000.00 1,887,720.00 1,883,654.14 13063DC48 State of California 1.7 2/1/2028 Moodys-Aa2 S&P-AA-2/7/2023 2/1/2028 3.950 10,175,000.00 9,611,813.75 9,557,006.57 13063DC48 State of California 1.7 2/1/2028 Moodys-Aa2 S&P-AA-10/6/2023 2/1/2028 5.079 5,000,000.00 4,723,250.00 4,549,872.67 64990FS96 NY State Dorm Authority 2.657 2/15/2028 Moodys-Aa1 Fitch-AA+5/18/2023 2/15/2028 4.294 3,015,000.00 2,917,434.60 2,882,234.02 9281094F1 Virginia CMWLTH 1.06 6/1/2028 Moodys-Aaa S&P-AAA 12/4/2023 6/1/2028 4.525 2,500,000.00 2,307,775.00 2,267,185.53 574193WV6 State of Maryland 4.49 6/1/2028 Moodys-Aaa S&P-AAA 6/18/2024 6/1/2028 4.591 5,000,000.00 5,077,750.00 4,986,338.72 762223ML6 State of Rhode Island 1.5 8/1/2028 Moodys-Aa2 S&P-AA 11/30/2023 8/1/2028 4.655 3,150,000.00 2,923,641.00 2,840,531.33 801155VQ2 Santa Ana USD 6.45 8/1/2028 Moodys-Aa3 NR 2/14/2025 8/1/2028 4.627 5,000,000.00 5,335,500.00 5,288,500.00 882724XP7 State of Texas 5 10/1/2028 Moodys-Aaa S&P-AAA 11/27/2023 10/1/2028 4.740 5,000,000.00 5,167,550.00 5,039,952.98 13077DQG0 California State University 1.521 11/1/2028-21 Moodys-Aa2 S&P-AA-12/20/2024 11/1/2028 4.646 11,500,000.00 10,611,970.00 10,360,383.90 574193WW4 State of Maryland 4.44 6/1/2029 Moodys-Aaa S&P-AAA 6/18/2024 6/1/2029 4.531 5,000,000.00 5,082,500.00 4,983,928.21 91412HFG3 University of California 3.349 7/1/2029-24 Moodys-Aa2 S&P-AA 10/23/2024 7/1/2029 4.228 10,000,000.00 9,772,600.00 9,644,137.44 7994082J7 San Ramon Valley SD 1.794 8/1/2029 Moodys-Aa1 S&P-AA+1/6/2025 8/1/2029 4.475 10,000,000.00 9,126,800.00 8,919,573.25 796720ND8 San Bernardino Community College 2.64 8/1/2029 Moodys-Aa1 S&P-AA 12/13/2024 8/1/2029 4.253 4,000,000.00 3,758,040.00 3,738,857.55 13063EGT7 State of California 4.5 8/1/2029 Moodys-Aa2 S&P-AA-11/5/2024 8/1/2029 4.343 10,000,000.00 10,164,400.00 10,063,812.43 13063EBP0 State of California 5.125 9/1/2029 Moodys-Aa2 S&P-AA-9/5/2024 9/1/2029 3.750 5,000,000.00 5,200,550.00 5,279,756.68 13077DQH8 California State University 1.674 11/1/2029-21 Moodys-Aa2 S&P-AA-12/11/2024 11/1/2029 4.250 7,095,000.00 6,405,153.15 6,359,259.79 91412HGG2 University of California 1.614 5/15/2030-20 Moodys-Aa2 S&P-AA 5/15/2025 5/15/2030 4.365 10,000,000.00 8,928,900.00 8,776,100.00 Municipal Bonds 3.632 200,225,000.00 194,225,406.35 192,603,834.33 3134GYES7 FHLMC 4.875 7/18/2025-23 Moodys-Aa1 S&P-AA+5/19/2023 7/18/2025 4.941 5,000,000.00 5,001,139.95 4,998,403.35 3134GWAU0 FHLMC 0.5 7/23/2025-21 Moodys-Aa1 S&P-AA+7/23/2020 7/23/2025 0.530 10,000,000.00 9,975,264.50 9,998,500.00 3134GXJ62 FHLMC 3.55 7/28/2025-23 Moodys-Aa1 S&P-AA+7/28/2022 7/28/2025 3.550 10,000,000.00 9,993,504.10 10,000,000.00 3134GW7B6 FHLMC 0.5 7/29/2025-21 Moodys-Aa1 S&P-AA+10/30/2020 7/29/2025 0.500 10,000,000.00 9,968,683.40 10,000,000.00 3136G4H63 FNMA 0.55 8/19/2025-22 Moodys-Aa1 S&P-AA+8/19/2020 8/19/2025 0.550 10,000,000.00 9,947,486.20 10,000,000.00 3135G05X7 FNMA 0.375 8/25/2025 Moodys-Aa1 S&P-AA+2/12/2021 8/25/2025 0.433 5,000,000.00 4,968,838.75 4,998,565.40 3130A8ZQ9 FHLB 1.75 9/12/2025 Moodys-Aaa S&P-AA+11/23/2022 9/12/2025 4.363 6,000,000.00 5,967,000.30 5,926,926.07 3134GXGW8 FHLMC 0.5 9/15/2025-21 Moodys-Aa1 S&P-AA+12/15/2020 9/15/2025 0.500 5,000,000.00 4,959,340.50 5,000,000.00 31422B6K1 FAMC 0.48 1/15/2026 NR NR 1/15/2021 1/15/2026 0.496 10,000,000.00 9,796,451.00 9,998,420.00 Municipal Bonds US Agency CUSIP/Ticker Description Credit Rating 1 Credit Rating 2 Settlement Date Maturity Date YTM @ Cost Face Amount/Shares Market Value Book Value 3130AKNG7 FHLB 0.55 1/28/2026-21 Moodys-Aaa S&P-AA+1/28/2021 1/28/2026 0.591 7,750,000.00 7,562,555.32 7,746,900.00 3133EMPU0 FFCB 0.5 2/4/2026-21 Moodys-Aaa S&P-AA+2/4/2021 2/4/2026 0.530 10,000,000.00 9,782,498.50 9,997,000.00 3130AKXX9 FHLB 0.5 2/25/2026-22 Moodys-Aaa S&P-AA+2/25/2021 2/25/2026 0.500 5,000,000.00 4,882,752.30 5,000,000.00 3135G0K36 FNMA 2.125 4/24/2026 Moodys-Aa1 S&P-AA+12/28/2022 4/24/2026 4.110 5,000,000.00 4,921,805.95 4,908,067.56 3130AMBE1 FHLB 1.02 5/12/2026-21 Moodys-Aaa S&P-AA+5/12/2021 5/12/2026 1.020 10,000,000.00 9,735,421.80 10,000,000.00 3130AMEJ7 FHLB Step 5/26/2026-22 Moodys-Aaa S&P-AA+5/26/2021 5/26/2026 0.997 10,000,000.00 9,740,275.00 10,000,000.00 3133EJXS3 FFCB 3.1 8/24/2026 Moodys-Aaa S&P-AA+4/15/2024 8/24/2026 4.808 5,000,000.00 4,950,981.80 4,880,106.01 3130ANSA9 FHLB 0.875 8/26/2026-22 Moodys-Aaa S&P-AA+8/26/2021 8/26/2026 0.878 2,750,000.00 2,651,598.37 2,749,876.25 3130ANVG2 FHLB Step 8/28/2026-23 Moodys-Aaa S&P-AA+8/30/2021 8/28/2026 0.887 5,000,000.00 4,841,233.65 5,000,000.00 31422XNB4 FAMC 0.86 9/30/2026 NR NR 9/30/2021 9/30/2026 0.860 5,000,000.00 4,811,072.35 5,000,000.00 3130APDK8 FHLB 1.1 9/30/2026-22 Moodys-Aaa S&P-AA+10/14/2021 9/30/2026 1.121 5,000,000.00 4,822,505.00 4,998,488.24 31424WAN2 FAMC 5 10/13/2026 NR NR 10/13/2023 10/13/2026 5.000 5,000,000.00 5,063,382.25 5,000,000.00 3133EMEF5 FFCB 0.5 10/22/2026 Moodys-Aaa S&P-AA+6/9/2023 10/22/2026 4.127 2,000,000.00 1,911,856.42 1,899,389.94 3133EN4X5 FFCB 3.875 12/23/2026 Moodys-Aaa S&P-AA+12/27/2022 12/23/2026 4.011 10,000,000.00 9,988,809.90 9,981,272.98 3133EN5V8 FFCB 4.125 1/11/2027 Moodys-Aaa S&P-AA+1/11/2023 1/11/2027 4.135 10,000,000.00 10,028,112.90 9,998,250.00 3133ENNS5 FFCB 1.8 2/16/2027 Moodys-Aaa S&P-AA+2/16/2022 2/16/2027 1.807 10,000,000.00 9,668,587.20 9,998,680.00 3133EPJP1 FFCB 3.625 5/12/2027 Moodys-Aaa S&P-AA+5/12/2023 5/12/2027 3.671 5,000,000.00 4,973,781.60 4,995,750.00 3130AVQS4 FHLB 3.71 7/9/2027 Moodys-Aaa S&P-AA+4/20/2023 7/9/2027 3.710 10,000,000.00 9,984,763.90 10,000,000.00 31424WCM2 FAMC 4.48 7/15/2027 NR NR 11/30/2023 7/15/2027 4.480 5,000,000.00 5,060,424.75 5,000,000.00 31424WCL4 FAMC 4.46 12/1/2027 NR NR 12/1/2023 12/1/2027 4.460 5,000,000.00 5,070,123.40 5,000,000.00 3133EN4S6 FFCB 3.75 12/22/2027 Moodys-Aaa S&P-AA+12/23/2022 12/22/2027 3.880 10,000,000.00 9,975,218.80 9,970,703.72 3135GA6Q9 FNMA 1 12/29/2027-23 Moodys-Aa1 S&P-AA+11/29/2023 12/29/2027 4.757 5,000,000.00 4,658,282.35 4,577,612.24 3133EN5N6 FFCB 4 1/6/2028 Moodys-Aaa S&P-AA+1/6/2023 1/6/2028 4.017 10,000,000.00 10,038,190.50 9,995,380.00 880591EZ1 TVA 3.875 3/15/2028 Moodys-Aaa S&P-AA+12/8/2023 3/15/2028 4.216 5,000,000.00 5,007,770.05 4,953,448.28 3133EPJD8 FFCB 3.6 5/9/2028 Moodys-Aaa S&P-AA+5/9/2023 5/9/2028 3.612 10,000,000.00 9,954,274.80 9,996,760.00 3130B1HU4 FHLB 5 5/26/2028-26 Moodys-Aaa S&P-AA+5/30/2024 5/26/2028 5.000 15,000,000.00 15,099,149.55 15,000,000.00 3130AMQ39 FHLB 1.45 6/14/2028-23 Moodys-Aaa S&P-AA+11/29/2023 6/14/2028 4.762 5,000,000.00 4,666,813.95 4,557,926.61 3130B0VU0 FHLB 5.06 7/17/2028-26 Moodys-Aaa S&P-AA+4/17/2024 7/17/2028 5.060 10,000,000.00 10,065,226.00 10,000,000.00 3133EPSK2 FFCB 4.25 8/7/2028 Moodys-Aaa S&P-AA+8/7/2023 8/7/2028 4.325 5,000,000.00 5,060,629.70 4,988,310.00 31422X5V0 FAMC 4.43 8/7/2028 NR NR 8/7/2023 8/7/2028 4.430 5,000,000.00 5,086,690.55 5,000,000.00 31422X6F4 FAMC 4.475 8/18/2028 NR NR 8/18/2023 8/18/2028 4.475 15,000,000.00 15,281,770.95 15,000,000.00 3133EPWK7 FFCB 4.5 9/22/2028 Moodys-Aaa S&P-AA+9/22/2023 9/22/2028 4.503 5,000,000.00 5,107,356.00 4,999,545.00 31424WAP7 FAMC 4.83 10/13/2028 NR NR 10/13/2023 10/13/2028 4.830 5,000,000.00 5,148,765.15 5,000,000.00 3130AFFX0 FHLB 3.25 11/16/2028 Moodys-Aaa S&P-AA+4/19/2024 11/16/2028 4.571 5,000,000.00 4,926,571.30 4,793,327.87 31424WEM0 FAMC 4 1/8/2029 NR NR 1/8/2024 1/8/2029 4.000 5,000,000.00 5,027,706.20 5,000,000.00 3130AYCG9 FHLB 4.625 1/18/2029-25 Moodys-Aaa S&P-AA+1/18/2024 1/18/2029 4.625 15,000,000.00 14,975,862.15 15,000,000.00 3130AYRG3 FHLB 4.4 2/5/2029-26 Moodys-Aaa S&P-AA+2/5/2024 2/5/2029 4.400 10,000,000.00 9,979,349.20 10,000,000.00 3130B16G7 FHLB 5.1 4/26/2029-27 Moodys-Aaa S&P-AA+4/30/2024 4/26/2029 5.100 5,000,000.00 5,047,102.30 5,000,000.00 3136GA7A1 FNMA 4.71 7/13/2029-26 Moodys-Aa1 S&P-AA+1/23/2025 7/13/2029 4.710 15,000,000.00 15,044,411.55 15,000,000.00 3136GA7C7 FNMA 4.65 1/28/2030-27 Moodys-Aa1 S&P-AA+1/28/2025 1/28/2030 4.650 10,000,000.00 10,036,555.50 10,000,000.00 3136GAGH6 FNMA 4 5/6/2030-27 Moodys-Aa1 S&P-AA+5/6/2025 5/6/2030 4.000 10,000,000.00 9,936,944.90 10,000,000.00 3136GAHF9 FNMA 4.5 5/20/2030-26 Moodys-Aaa S&P-AA+5/28/2025 5/20/2030 4.500 10,000,000.00 10,026,225.10 10,000,000.00 31424WD58 FAMC 4 6/12/2030 NR NR 6/12/2025 6/12/2030 4.000 11,250,000.00 11,306,729.59 11,250,000.00 US Agency 3.312 404,750,000.00 402,487,847.20 403,157,609.52 91282CEY3 T-Note 3 7/15/2025 Moodys-Aa1 S&P-AA+2/5/2024 7/15/2025 4.366 10,000,000.00 9,994,477.60 9,934,942.37 91282CHV6 T-Note 5 8/31/2025 Moodys-Aa1 S&P-AA+6/28/2024 8/31/2025 5.015 5,000,000.00 5,003,710.95 4,999,497.38 91282CHV6 T-Note 5 8/31/2025 Moodys-Aa1 S&P-AA+6/28/2024 8/31/2025 5.000 5,000,000.00 5,003,710.95 5,000,000.00 91282CFK2 T-Note 3.5 9/15/2025 Moodys-Aa1 S&P-AA+6/28/2024 9/15/2025 4.991 5,000,000.00 4,992,968.75 4,963,900.62 91282CFK2 T-Note 3.5 9/15/2025 Moodys-Aa1 S&P-AA+6/28/2024 9/15/2025 4.991 5,000,000.00 4,992,968.75 4,963,900.62 91282CFP1 T-Note 4.25 10/15/2025 Moodys-Aa1 S&P-AA+6/28/2024 10/15/2025 4.956 5,000,000.00 4,999,414.05 4,982,958.37 91282CFP1 T-Note 4.25 10/15/2025 Moodys-Aa1 S&P-AA+6/28/2024 10/15/2025 4.962 5,000,000.00 4,999,414.05 4,982,807.56 91282CGE5 T-Note 3.875 1/15/2026 Moodys-Aa1 S&P-AA+6/28/2024 1/15/2026 4.858 5,000,000.00 4,993,046.85 4,953,271.66 91282CGE5 T-Note 3.875 1/15/2026 Moodys-Aa1 S&P-AA+6/28/2024 1/15/2026 4.860 5,000,000.00 4,993,046.85 4,953,145.70 91282CGL9 T-Note 4 2/15/2026 Moodys-Aa1 S&P-AA+6/28/2024 2/15/2026 4.830 5,000,000.00 4,993,828.10 4,960,474.57 91282CGL9 T-Note 4 2/15/2026 Moodys-Aa1 S&P-AA+6/28/2024 2/15/2026 4.830 5,000,000.00 4,993,828.10 4,960,474.57 91282CKS9 T-Note 4.875 5/31/2026 Moodys-Aa1 S&P-AA+6/28/2024 5/31/2026 4.727 5,000,000.00 5,035,859.35 5,006,905.49 91282CKS9 T-Note 4.875 5/31/2026 Moodys-Aa1 S&P-AA+6/28/2024 5/31/2026 4.740 5,000,000.00 5,035,859.35 5,006,296.19 91282CHM6 T-Note 4.5 7/15/2026 Moodys-Aa1 S&P-AA+12/17/2024 7/15/2026 4.220 20,000,000.00 20,103,906.20 20,079,763.48 US Treasury CUSIP/Ticker Description Credit Rating 1 Credit Rating 2 Settlement Date Maturity Date YTM @ Cost Face Amount/Shares Market Value Book Value 91282CCP4 T-Note 0.625 7/31/2026 Moodys-Aa1 S&P-AA+3/22/2022 7/31/2026 2.353 10,000,000.00 9,644,531.20 9,755,637.56 91282CCP4 T-Note 0.625 7/31/2026 Moodys-Aa1 S&P-AA+3/23/2022 7/31/2026 2.398 10,000,000.00 9,644,531.20 9,749,585.56 91282CCP4 T-Note 0.625 7/31/2026 Moodys-Aa1 S&P-AA+4/21/2022 7/31/2026 2.885 10,000,000.00 9,644,531.20 9,684,174.44 9128282A7 T-Note 1.5 8/15/2026 Moodys-Aa1 S&P-AA+6/23/2023 8/15/2026 4.254 2,000,000.00 1,946,015.62 1,923,671.67 91282CCZ2 T-Note 0.875 9/30/2026 Moodys-Aa1 S&P-AA+9/30/2021 9/30/2026 0.921 5,000,000.00 4,816,210.95 4,996,658.94 91282CDG3 T-Note 1.125 10/31/2026 Moodys-Aa1 S&P-AA+6/23/2023 10/31/2026 4.218 2,000,000.00 1,928,515.62 1,914,218.75 912828Z78 T-Note 1.5 1/31/2027 Moodys-Aa1 S&P-AA+6/26/2023 1/31/2027 4.178 1,000,000.00 964,531.25 950,818.68 912828X88 T-Note 2.375 5/15/2027 Moodys-Aa1 S&P-AA+12/29/2022 5/15/2027 4.028 10,000,000.00 9,748,046.90 9,699,497.42 91282CET4 T-Note 2.625 5/31/2027 Moodys-Aa1 S&P-AA+6/23/2023 5/31/2027 4.126 1,000,000.00 978,906.25 972,555.20 91282CKZ3 T-Note 4.375 7/15/2027 Moodys-Aa1 S&P-AA+9/18/2024 7/15/2027 3.471 5,000,000.00 5,059,960.95 5,106,412.32 91282CKZ3 T-Note 4.375 7/15/2027 Moodys-Aa1 S&P-AA+12/17/2024 7/15/2027 4.201 20,000,000.00 20,239,843.80 20,080,827.02 91282CFB2 T-Note 2.75 7/31/2027 Moodys-Aa1 S&P-AA+12/29/2022 7/31/2027 4.004 10,000,000.00 9,800,000.00 9,716,587.22 91282CFB2 T-Note 2.75 7/31/2027 Moodys-Aa1 S&P-AA+6/23/2023 7/31/2027 4.111 7,500,000.00 7,350,000.00 7,267,824.90 91282CAH4 T-Note 0.5 8/31/2027 Moodys-Aa1 S&P-AA+12/29/2022 8/31/2027 3.999 5,000,000.00 4,664,648.45 4,604,461.28 91282CFM8 T-Note 4.125 9/30/2027 Moodys-Aa1 S&P-AA+12/28/2022 9/30/2027 3.960 8,000,000.00 8,068,124.96 8,029,566.06 91282CFU0 T-Note 4.125 10/31/2027 Moodys-Aa1 S&P-AA+6/23/2023 10/31/2027 4.077 1,000,000.00 1,008,398.44 1,001,077.15 91282CGC9 T-Note 3.875 12/31/2027 Moodys-Aa1 S&P-AA+1/3/2023 12/31/2027 4.020 8,000,000.00 8,028,750.00 7,973,991.36 91282CGH8 T-Note 3.5 1/31/2028 Moodys-Aa1 S&P-AA+6/23/2023 1/31/2028 4.037 4,250,000.00 4,225,429.69 4,188,108.13 91282CES6 T-Note 2.75 5/31/2029 Moodys-Aa1 S&P-AA+11/18/2024 5/31/2029 4.280 6,500,000.00 6,259,296.88 6,141,657.75 91282CLC3 T-Note 4 7/31/2029 Moodys-Aa1 S&P-AA+9/18/2024 7/31/2029 3.444 10,000,000.00 10,080,078.10 10,228,119.72 91282CFJ5 T-Note 3.125 8/31/2029 Moodys-Aa1 S&P-AA+11/18/2024 8/31/2029 4.284 5,000,000.00 4,872,656.25 4,766,150.11 91282CMG3 T-Note 4.25 1/31/2030 Moodys-Aa1 S&P-AA+5/13/2025 1/31/2030 4.065 20,000,000.00 20,364,062.40 20,156,250.00 US Treasury 4.031 251,250,000.00 249,473,110.01 248,656,189.82 Total / Average 3.661 1,258,044,000.00 1,242,940,328.62 1,238,408,770.03 Duration To Maturity 2.04 Market Value Source: US Bank Safekeeping* Duration To Maturity Source: Tracker FAMC Securities: US Government Agency/Not Rated