HomeMy WebLinkAbout11-18-2021 IOC Agenda PacketCity of San Luis Obispo, Agenda, Planning Commission
Agenda
INVESTMENT OVERSIGHT COMMITTEE
Thursday, November 18, 2021
Due to the recent increase in COVID-19 cases in San Luis Obispo County, City Administration has made the
difficult decision to return to a virtual meeting format. Members of the Investment Oversight Committee (IOC)
are allowed to attend the meeting via teleconference and participate in the meeting to the same extent as if they
were present. There will be no physical location for the Public to view the meeting. Below are instructions on
how to view the meeting remotely and how to leave public comment.
Additionally, members of the Investment Oversight Committee are allowed to attend the meeting via teleconference
and to participate in the meeting to the same extent as if they were present.
Using the most rapid means of communication available at this time, members of the public are encouraged
to participate in Committee meetings in the following ways:
1. Remote Viewing - Members of the public who wish to watch the meeting can view:
➢ View the Webinar:
➢ Webinar link: https://slocity-
org.zoom.us/j/89508794170?pwd=TFQxWFF1anprLzBNOVlpM2hyUHlVZz09
➢ Passcode: 638818
➢ Call in: 1-669-900-6833
➢ Webinar ID: 895 0879 4170
➢ Passcode: 938818
2. Public Comment - The Investment Oversight Committee will still be accepting public comment. Public
comment can be submitted in the following ways:
• Mail or Email Public Comment
➢ Received by 10:00 AM on the day of meeting - Can be submitted via email to
advisorybodies@slocity.org or U.S. Mail to City Clerk at 990 Palm St. San Luis Obispo, CA 93401
➢ Emails sent after 10:00 AM and up until public comment is opened on the item – Limited to
one page emailed to cityclerk@slocity.org, which will then be read aloud during the public comment
period on the item specified.
• Verbal Public Comment
➢ Received by 10:00 AM on the day of the meeting - Call (805) 781-7164; state and spell your
name, the agenda item number you are calling about and leave your comment. The verbal
comments must be limited to 3 minutes. All voicemails will be forwarded to the IOC and saved as
Agenda Correspondence.
➢ During the meeting – Join the webinar (instructions above). Once public comment for the item
you would like to speak on is called, please raise your virtual hand, your name will be called, and
your microphone will be unmuted. If you have questions, contact the office of the City Clerk at
cityclerk@slocity.org or (805) 781-7100
All comments submitted will be placed into the administrative record of the meeting.
Investment Oversight Committee Agenda for November 18, 2021 Page 2
1:30 p.m. REGULAR MEETING TELECONFERENCE
Broadcasted via webinar
CALL TO ORDER: Chair Brigitte Elke
ROLL CALL : Committee Members Natalie Harnett, Derek Johnson, Debbie Malicoat, Erica
A. Stewart, Anni Wang, and Chair Brigitte Elke
OTHERS PRESENT: David Reeser, Managing Director for PFM Asset Management LLC
Monique S. Spkye, Managing Director for PFM Asset Management LLC,
and Serenity Whorley, Recording Secretary
PUBLIC COMMENT: At this time, people may address the Committee about items not on the
agenda. Persons wishing to speak should come forward and state their name and address.
Comments are limited to three minutes per person. Items raised at this time are generally referred
to staff and, if action by the Committee is necessary, may be scheduled for a future meeting.
CONSIDERATION OF MINUTES
1. Minutes of the Investment Oversight Committee of September 9, 2021
BUSINESS ITEMS
2. Presentation of the Quarterly Investment Report on Portfolio Performance
The City’s investment advisor will present the quarterly investment report per September 30, 2021,
provide investment results, and portfolio adherence to the City’s investment policy.
Recommendation: Approve report and confirm investment policy compliance.
COMMUNICATION AND DISCUSSION
The committee will share relevant information and review topics to discuss at the next
regularly scheduled meeting.
3. The committee chair will provide an update regarding the Investment Advisor contract.
Investment Oversight Committee Agenda for November 18, 2021 Page 3
ADJOURNMENT
The next Regular Meeting of the Investment Oversight Committee is scheduled for
Thursday, February 10th , 2022, at 1:30 p.m., in the Council Hearing Room, 990 Palm Street,
San Luis Obispo, California.
The City of San Luis Obispo wishes to make all of its public meet ings accessible to the
public. Upon request, this agenda will be made available in appropriate alternative formats to
persons with disabilities. Any person with a disability who requires a modification or
accommodation in order to participate in a meeting should direct such request to the Finance
Department at (805) 781-7125 at least 48 hours before the meeting, if possible.
Telecommunications Device for the Deaf (805) 781-7107.
Meeting audio recordings can be found at the following web address:
http://opengov.slocity.org/WebLink/1/fol/61037/Row1.aspx
Minutes - Draft
Investment Oversight Committee
Thursday, September 9, 2021
Regular Meeting of the Investment Oversight Committee
CALL TO ORDER
A Regular meeting of the Investment Oversight Committee was called to order on Thursday,
September 9, 2021, at 1:32 p.m. in the Council Hearing Room at 990 Palm Street, San Luis Obispo,
California, by Chair Brigitte Elke.
ROLL CALL
Oath of Office: Oath of office taken by Committee Member Anni Wang
Present: Committee Members Natalie Harnett, Derek Johnson, Debbie Malicoat, Erica A.
Stewart, Anni Wang, and Chair Brigitte Elke
Others Present: David Reeser, Managing Director for PFM Asset Management LLC, Monique
Spyke, Managing Director for PFM Asset Management LLC, Sarah Walsh,
Senior Analyst for PFM Asset Management LLC, and Serenity Whorley,
recording secretary
PUBLIC COMMENT ITEMS NOT ON THE AGENDA
None
--End of Public Comment--
APPROVAL OF MINUTES
1. Review of Minutes of the Investment Oversight Committee Meeting of May 13, 2021:
ACTION: UPON MOTION BY COMMITTEE MEMBER JOHNSON, SECONDED BY
COMMITTEE MEMBER STEWART, CARRIED 6-0-0, to approve the May 13, 2021
minutes, as presented.
PUBLIC COMMENT
None.
--End of Public Comment--
BUSINESS ITEMS
City of San Luis Obispo, Title, Subtitle
Minutes - Investment Oversight Committee Minutes of Thursday, September 9, 2021 Page 2
2. Presentation of ESG Investing 101.2
The City’s investment advisor provided additional insight into ESG investing and the critical
factors to be considered. This information will help in developing the commissioners’ ability to
read and interpret the ESG report results and applicable criteria.
3. Presentation of the Quarterly Investment Report on Portfolio Performance
Monique Spyke, Managing Director for PFM Asset Management LLC, provided a PowerPoint
presentation and responded to Committee inquiries.
Public Comment
None.
--End of Public Comment--
ACTION: UPON MOTION BY COMMITTEE MEMBER MALICOAT, SECONDED BY
COMMITTEE MEMBER JOHNSON, CARRIED 6-0-0, to accept the quarterly report.
4. Retirement of the LIBOR Standard
The City’s investment advisor will provide a report on the retirement of the LIBOR Standard
and what it means for the City’s investments.
COMMENT AND DISCUSSION
The committee will review topics to discuss at the next regularly scheduled meeting.
ADJOURNMENT
The meeting was adjourned at 3:07 pm. The next Regular Meeting of the Investment Oversight
Committee is scheduled for Thursday, November 18, 20 21, at 1:30 p.m., in the Council
Hearing Room, 990 Palm Street, San Luis Obispo, California.
APPROVED BY INVESTMENT OVERSIGHT COMMITTEE: XX/XX/XXXX
Quarterly Investment Report
As of S e p t emb e r 3 0 , 2 0 2 1
November 18, 2021
This report presents the City’s investment portfolio for
the quarter ending September 30,2021.It has been
prepared to comply with regulations contained in
California Government Code Section 53646.The report
includes all investments managed by the City on its
own behalf as well as for other third-party agencies on
a fiduciary basis such as the Whale Rock Commission.
It also includes all City related investments held by
trustees for bond debt service obligations.As required,
the report provides information on the investment type,
issuer,maturity date,cost,and current market value for
each security.
Market Themes
Source: John Hopkins University Coronavirus Resource Center, PFM calculations (left); Bloomberg (top right, bottom right) as of 9/30/2021.
100K
200K
300K
400K
500K
600K
700K
800K
900K
0K
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
U.S. New Cases Reported Daily
7-Day Moving Average
Global U.S.110
100
90
80
70
60
2015 2021
University of Michigan Consumer
Sentiment Index
0.0
0.5
1.0
1.5
2.0
2.5
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21Millions20172019
TSA Checkpoint Travel Numbers
7-Day Moving Average
As COVID Goes, So Goes the Economy
Market Considerations
•GDP expectations in the near
term have been lowered due to
a myriad of potential factors:
the COVID spike, a runoff in
monetary stimulus, lingering
supply chain constraints, and
fiscal policy uncertainty around
new spending plans.
•The U.S. Treasury yield curve is
virtually the same as it was at
the end of the second quarter.
Interest rates at the short end
of the Treasury yield curve are
expected to remain anchored
by the Fed’s zero interest rate
policy, while yields on the long
end of the curve are more likely
to rise as the market prices in a
longer period of higher inflation
and a shorter period to the
completion of Fed tapering.
Source: Bloomberg as of September 30, 2021.
24.8%24.4%
8.7%
5.4%4.6%4.4%3.4%3.2%
0.9%
0%
10%
20%
30%EnergyUsedCars/TrucksNew CarsCPI YoYFoodTransportationApparelShelterMedical CareKey Consumer Price Index Components
(September 2021)
0.03%
0.28%
0.96%
1.29%
1.49%
1.99%2.04%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%YieldMaturity
U.S. Treasury Yield Curve
YTD Range
September 30,
2021
3mo 2yr 5yr 7yr 10yr 20yr 30yr
Market Considerations
•We currently hold larger than
normal allocations to US
Treasuries which gives
portfolios enhanced safety,
liquidity, and flexibility. As
always, diversification across
all permitted investments will
remain a key element of our
strategy.
•There is limited room for
further spread narrowing
from current levels, which will
likely remain in a narrow
range over the near term.
Agencies continue to offer
essentially zero additional
yield benefit against Treasury
securities out to seven years.
We will continue to reduce
allocations, realize gains
where appropriate, and favor
other sectors.
Source: Bloomberg as of September 30, 2021.
1-5 Year Indices
0.00%
0.10%0.07%0.05%0.18%
-0.5%
0.0%
0.5%
1.0%
1.5%U.S. TreasuryAgencyABSCorp A-AAACorp BBBSeptember 2021
-0.42%
-0.16%
0.21%0.05%
0.67%
-0.5%
0.0%
0.5%
1.0%
1.5%U.S. TreasuryAgencyABSCorp A-AAACorp BBBYTD 2021
What we are watching…
•Despite facing several
headwinds and
uncertainties, the economic
recovery still has some
positive momentum.
Investors are keeping a
close eye on the Federal
Reserve’s posturing with
regard to policy
normalization.
•GDP expectations in the
near term have been
lowered due to a myriad of
potential factors: the COVID
spike, a runoff in monetary
stimulus, lingering supply-
chain constraints, and fiscal
policy uncertainty around
new spending plans.
Source: Federal Reserve, economic projections as of September 2021.
Source: Bloomberg as of September 30, 2021.
3.7%
2.3%2.2%2.1%
0%
1%
2%
3%
4%
2021 2022 2023 2024 Longer
Run
Core PCE Inflation
June Projections September Projections
99
100
101
102
103
104
105
Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21
Price Level
(February 2020 = 100)
Core CPI Core PCE 2% Annual Price Level
Current Cash & Investment Summary
The following is a summary of the City’s cash and
investments based on market value, as of
September 30, 2021, compared to the prior quarter.
Investment Entity September 30, 2021 June 30, 2021 Percent of Total**
City Held Cash & Investments $42,091,898 $38,554,679 25%
LAIF Held Investments $23,996,372 $23,976,796 14%
PFM Managed Investments*$103,554,732 $103,481,426 61%
Trustee Held Investments $72,783 $72,724 <1%
TOTAL $169,715,785 $166,085,625 100%
*Figures shown exclude accrued interest. **Details may not add up to total due to rounding.
Current Cash & Investment Summary
There are several factors which
result in changes in cash and
investment balances from
month-to-month and quarter-to-
quarter, dependent on the
receipt of revenues or a large
disbursement.
•Some major City revenues are received on a periodic rather
than a monthly basis. Property Tax is received in December,
January, April, and May of each year. Transient Occupancy
Tax is received monthly but varies considerably due to
seasonality.
•Payments for bonded indebtedness or large capital projects
can reduce the portfolio substantially in the quarter in which
they occur.
•The City pays its CalPERS obligation in a lump sum at the
beginning of the fiscal year to achieve interest savings.
Factors
Security Type Market Value
% of
Portfolio
% Change
vs. 3/31/21
Permitted by
Policy
U.S. Treasury 53,636,472.96 51.7%4.3%100%
Federal Agency 26,051,622.54 25.1%3.8%100%
Municipal Obligations 2,207,198.10 2.1%0.0%30%
Negotiable CDs 5,049,943.55 4.9%0.0%30%
Corporate Notes 12,788,679.97 12.3%0.2%30%
Asset-Backed Securities 3,517,381.66 3.4%0.5%15%
Securities Sub-Total 103,251,298.78
Money Market Fund $303,432.96 0.3%0.0%20%
Accrued Interest 288,931.81
Securities Total 103,843,663.55 100.0%
Securities
Securities in the City’s
portfolio are priced by
Refinitiv, an independent
pricing service at the end of
every month. In some
cases, the City may have
investments with a current
market value that is greater
or less than the recorded
value. These changes in
market value are due to
fluctuations in the
marketplace having no
effect on yield, as the City
does not intend to sell
securities prior to maturity.
Nevertheless, these market
changes can impact the
total value of the portfolio.
PFM Managed 09/30/2021 06/30/2021
Average Maturity
(Years)2.27 2.37
Effective Duration1 2.11 2.15
Average Market Yield 0.49%0.45%
Total Rate
of Return 3 Months 1 Year 3 Years Since
Inception
City of SLO 0.01%0.01%3.04%1.85%
0–5 Treasury
Index 0.00%-0.28%2.86%1.65%
Variance +0.01%+0.27%+0.18%+0.20%
1Effective duration is the approximate percentage change in price for each 1% change in interest rates.
Total Return
Total return is calculated
based on interest and both
realized and unrealized
changes in market value;
this is expressed as a rate of
return over a specified
period of time based on cost
and is backward -looking.
•Focused on long-t erm
performance and
growth
•Affected by both yield
an d market value
fluctuations
•Reflects “true value” of
the portfolio
•Recommended
ap proach by the
Government Finance
Officers Association
The investment objectives of the City of San Luis Obispo are first, to
provide safety of principal to ensure the preservation of capital in the
overall portfolio; second, to provide sufficient liquidity to meet all operating
requirements; and third, to earn a commensurate rate of return consistent
with the constraints imposed by the safety and liquidity objectives. The
City follows the practice of pooling cash and investments for all funds
under its direct control. Funds held by outside fiscal agents under
provisions of bond indentures are maintained separately. Interest earned
on pooled cash and investments is allocated quarterly to the various
Quarterly Investment Report funds based on the respective fund’s
average quarterly cash balance. Interest earned from cash and
investments with fiscal agents is credited directly to the related accounts.
It is common for governments to pool the cash and investments of various
funds to improve investment performance. By pooling funds, the City can
benefit from economies of scale, diversification, liquidity, and ease of
administration. The City uses the services of an investment advisor, PFM
Asset Management, to manage a portion of the City’s portfolio. The City’s
strategy is to retain approximately 25% of the portfolio to manage its day -
to -day cash flow needs, while PFM’s focus is on longer -term investment
management. In addition, the City has retained direct control of several
investments that had been acquired before the City began to use
investment advisors. All investments are held by the City in a safekeeping
account with Bank of New York Mellon, except for investments held by
trustees related to bond financings, which are held by either US Bank or
Bank of New York Mellon.
Investment Objectives
Environmental, Social, and Governance (ESG) Investment Objectives
ESG investing is the process of incorporating the analysis of non-
financial environmental, social, and governance factors into investment
decisions alongside traditional financial criteria. As set forth in the City’s
Investment Management Plan dated August 18, 2020, it is City’s
objective to integrate environmental, social, and governance (“ESG”)
factors into investment decisions for its investment portfolio to the
extent practical and possible.
In order to achieve this objective, the City will apply the ESG
Investment Criteria to the following Investments: Asset-Backed
Securities, Bankers’ Acceptances, Commercial Paper, Corporate,
Medium-Term & Bank Notes, and Negotiable Bank Deposit Obligations.
The ESG investment criteria is based on ESG Risk Ratings, industry
and subindustry definitions, and subindustry rankings as provided by
Sustainalytics.
ESG Overview
1. Market Value includes accrued interest as of September 30, 2021.
Source: Sustainalytics. Please see important disclosures at the end of this presentation.
ESG Performance Summary Third Quarter 2021
ESG Rated Portfolio
29/39 issuers with a MV of $103.5 million1
$46,733,171 (45%)
Non-ESG Rated Issuers:
U.S. Treasuries, Municipal Bonds, and Federal Farm Credit Banks
Sector Allocation
U.S. Treasury
Municipal
Non ESG-Rated Federal
Agency & Agency MBS
Fannie Mae
Freddie Mac
FHLB
Corporate Notes
Certificates of Deposit
ABS
Green shades are ESG-rated sectors
0%
46%47%
7%0%0%
13%
79%
8%0%
Sustainalytics’ characterizations of ESG performance
Source: Sustainalytics. Data as of September 30, 2021 and June 30, 2021, as indicated. Please see important disclosures at the end of this
presentation.
ESG Quarter-Over -Quarter Summary Comparison
0 20 40 60 80 100
Management
Exposure
ES
G
Ris
k
Rat
ing
ESG
Risk Rating
22.4
Negligible Low Medium High Severe
22.7
9/30/21 6/30/21
Exposure
Management
Low Medium High
Weak Average Strong
41.4 41.4
47.847.7
•On average, the portfolio
maintained medium ESG risk
as of September 30, 2021.
•The Portfolio’s ESG risk
exposure score remained
within the medium range. A
lower ESG exposure score
generally decreases ESG risk.
•The Portfolio’s ESG
management rating also
remained within the average
range quarter-over-quarter.
Lower management scores
generally increase ESG risk.
Source: Sustainalytics. ESG Themes were created by PFM based on the material ESG issues (“MEIs”) and ESG indicators developed and defined
by Sustainalytics. Please see the ESG Themes Glossary provided in the Appendix for additional information and details.
*Only applies to financial service industries.
Average ESG Risk by ESG Theme
1.6 8.912.0 Portfolio ESG
Risk Rating:
22.4
E S G
++=
•Environmental risk evaluates
how a company manages its
environmental impact and
carbon footprint
•Social risk analyzes how a
company treats employees,
customers, the community, and
other stakeholders as well as
other companies it interacts
with
•Governance risk assesses how
a company is managed from
the perspective of executive
pay, internal controls, board
composition, lobbying
practices, and related issues
Carbon Output &
Energy Use
5%
Waste &
Pollution
<1%
Resource Use &
Biodiversity
<1%Community Impact
(Environmental)
1%
Human Capital
Management
16%
Product
Governance
28%
Community Impact
(Social)
1%
ESG Financial
Integration &
Resilience*
8%
Corporate
Goverance
40%
Portfolio holdings and Sustainalytics data as of September 30, 2021. “ESG Risk Rating by Industry” represents the market value-weighted average
ESG risk rating for each industry, as classified by Sustainalytics. “Industry Distribution” charts show the total number of issuers per industry and the
allocation as percentage of portfolio market value.
Industry Diversification
30.4 22.2 23.7 26.8 14.9 24.2 19.1 17.0 14.3 16.90
10
20
30
40
ESG Risk Rating by Industry
Average ESG Risk Rating = 22.4
4 10 3 1 1 2 3 1 3 1
Industry Distribution
(# of Issuers)
6.7%63.1%
5.9%
6.2%
1.2%
3.1%
6.1%
1.3%
4.3%
2.3%
(Allocation % of Market Value )
Source: Sustainalytics and the Investment Policy Statement as of September 30, 2021. Changes in approved list shown reflect issuers eligible for
purchase in the portfolio based on ESG criteria and IPS limitations but may not be held by the client.
Top Changes in ESG Risk Ratings in Third Quarter
Largest Decreases in ESG Risk Rating
Credit Suisse Group AG
CarMax Inc.
Societe Generale AG
↓2.2
↓1.1
↓0.5
27.9
12.0
25.2
•Improvement in ESG management –
increase in management score
•Improvement in ESG management –
increase in management score
•Improvement in ESG management –
increase in management score
Largest Increases in ESG Risk Rating
Mastercard Incorporated
Bank of America Corporation
DNB ASA
17.2
27.0
16.0
•Increase in ESG exposure for data
processing subindustry & decrease
in ESG management
•Decrease in ESG management score
•Decrease in ESG management score
↑0.9
↑0.6
↑0.3
Holdings as of September 30, 2021 –Sorted By ESG Risk Rating
Source: Sustainalytics. Holdings as of September 30, 2021. Quarter-over-quarter (“QoQ”) change in ESG risk rating reflects the overall change in
risk rating for each issuer, as defined by Sustainalytics, from September 30, 2021 to June 30, 2021. Issuers with “-” under ESG contributions
means data not available.
Issuer % Weight Subindustry Subindustry
Percentile
ESG
Risk
Rating
9/30/21
QoQ
Change
in ESG
Rating
Contributions
E S G
Adobe Systems Inc 0.6%
Enterprise and
Infrastructure
Software
1.6 10.8 -0.1 7%49%44%
The Home Depot Inc 0.8%
Home
Improvement
Retail
9.5 11.5 -0.2 29%39%32%
CarMax Inc.0.9%Automotive Retail 10.7 12.0 -1.1 -65%35%
International
Business Machines
Corp
0.7%IT Consulting 7.3 14.8 0.2 3%45%52%
Walt Disney Co 0.5%Movies and
Entertainment 17.5 14.9 --44%56%
DNB ASA 0.6%Diversified Banks 4.2 16.0 0.3 4%47%50%
Apple Inc 1.0%Technology
Hardware 11.9 16.9 -6%39%55%
Intel Corp 0.6%
Semiconductor
Design and
Manufacturing
3.8 17.0 -29%30%42%
Mastercard
Incorporated 0.6%Data Processing 16.2 17.2 0.9 -41%59%
Federal National
Mortgage
Association
14.5%Thrifts and
Mortgages 12.0 19.9 -0.3 -62%38%
Nordea Bank AB 1.1%Diversified Banks 15.3 21.5 0.1 2%44%54%
Skandinaviska
Enskilda Banken AB 1.2%Diversified Banks 18.0 22.4 -4%43%54%
Bristol-Myers Squibb
Company 0.3%Biotechnology 5.2 22.9 -0.1 -68%32%
Holdings as of September 30, 2021 –Sorted By ESG Risk Rating
Source: Sustainalytics. Holdings as of September 30, 2021. Quarter-over-quarter (“QoQ”) change in ESG risk rating reflects the overall change in
risk rating for each issuer, as defined by Sustainalytics, from September 30, 2021 to June 30, 2021. Issuers with “-” under ESG contributions
means data not available.
Issuer % Weight Subindustry Subindustry
Percentile
ESG
Risk
Rating
9/30/21
QoQ
Change
in ESG
Rating
Contributions
E S G
Capital One
Financial
Corporation
0.1%Consumer Finance 21.3 23.2 --58%42%
Ally Financial Inc.0.0%Consumer Finance 23.5 23.5 --59%41%
Federal Home Loan
Bank System 2.5%Consumer Finance 25.6 23.7 --56%44%
Pfizer Inc 1.1%Pharmaceuticals 3.6 24.5 -0.2 6%56%38%
Federal Home Loan
Mortgage Corp 7.4%Thrifts and
Mortgages 32.0 24.8 -7%56%37%
Societe Generale SA 0.8%Diversified Banks 25.8 25.2 -0.5 5%32%63%
Walmart Inc.2.8%Food Retail 48.9 26.8 -0.5 12%63%24%
Bank of America
Corporation 0.6%Diversified Banks 32.0 27.0 0.6 5%42%53%
Sumitomo Mitsui
Financial Group Inc 0.6%Diversified Banks 35.6 27.8 -7%46%47%
Credit Suisse Group
AG 0.6%Diversified Banks 36.1 27.9 -2.2 4%38%58%
JPMorgan Chase &
Co.1.1%Diversified Banks 36.6 28.0 -0.2 3%48%49%
Honda Motor Co Ltd 1.0%Automobiles 43.9 28.8 -24%43%32%
Toyota Motor
Corporation 1.5%Automobiles 58.8 30.4 -22%44%34%
Holdings as of September 30, 2021 –Sorted By ESG Risk Rating
Source: Sustainalytics. Holdings as of September 30, 2021. Quarter-over-quarter (“QoQ”) change in ESG risk rating reflects the overall change in
risk rating for each issuer, as defined by Sustainalytics, from September 30, 2021 to June 30, 2021. Issuers with “-” under ESG contributions
means data not available.
Issuer % Weight Subindustry Subindustry
Percentile
ESG
Risk
Rating
9/30/21
QoQ
Change
in ESG
Rating
Contributions
E S G
Amazon.com Inc 1.1%Online and Direct
Marketing Retail 97.3 30.9 -25%43%32%
Nissan Motor Co Ltd 0.4%Automobiles 76.9 32.8 0.1 29%43%28%
Hyundai Motor
Company 0.1%Automobiles 90.1 35.9 -0.2 26%43%30%
Issuer Sector (BICS)
Toyota Motor Automobiles Manufacturing
Ally Auto Receivables Trust Automobiles Manufacturing
Capital One Prime Auto Rec Trust Automobiles Manufacturing
Carmax Auto Owner Trust Automobiles Manufacturing
Honda Auto Receivables Automobiles Manufacturing
Hyundai Auto Receivables Automobiles Manufacturing
Nissan Auto Receivables Automobiles Manufacturing
Toyota Motor Automobiles Manufacturing
Credit Suisse Group Banks
Nordea Bank Ab Banks
Skandinaviska Enskilda Banken Ab Banks
Societe Generale Banks
Sumitomo Mitsui Financial Group Inc Banks
Apple Inc Communications Equipment
Mastercard Inc Consumer Finance
Bank Of America Co Diversified Banks
JPMorgan Chase & Co Diversified Banks
LA Community College District Education
San Deigo Community College District Education
Issuer Sector (BICS)
University of California Education
The Walt Disney Corporation Entertainment Content
Dnb Asa Financial Services
California Earthquake Authority Financing & Development
State of California General Government
State of Maryland General Government
FFCB Government Agencies
FHLB Government Agencies
FHLMC Government Agencies
FNMA Government Agencies
Walmart Stores Mass Merchants
Bristol Myers Squibb Pharmaceuticals
Pfizer Inc Pharmaceuticals
Amazon Retail Consumer Discretionary
Home Depot Retail Consumer Discretionary
Intel corporation Semiconductors
Adobe Inc Software & Services
IBM Software & Services
U.S. Treasury Sovereigns
NJ Turnpike Authority Transportation
Source: Bloomberg. BICs is an industry classification system developed and utilized by Bloomberg that classifies securities based on business,
economic function, and other characteristics.
Socially
Responsible Investment Policy
In addition to the ESG criteria,
the City’s Socially Responsible
Investment (SRI) Policy restricts
from the portfolio issuers who
generate revenue from casinos,
gambling, racetracks, brewery,
wine/spirits, tobacco, electronic
cigarette, or tobacco -related
products, or who support the
direct production or drilling of
fossil fuels. The City’s portfolio is
in compliance with SRI
restrictions. The tables to the
right show the Bloomberg
Industry Classifications (“BICS”)
for all the portfolio’s holdings.
Appendix
- Additional ESG Information
-ESG Themes Information
0 5 10 15 20 25 30 35 40
Federal Agency
Certificates of Deposit
Corporate Notes
ABS
ESG Risk Rating
Source: Sustainalytics. Data as of September 30, 2021. Bars represent the range of held issuers’ ESG risk rating that fall under each sector, and
lines indicate the sectors market value-weighted average ESG risk rating. Please see important disclosures at the end of this presentation.
ESG Risk Rating by Sector
Maximum
Medium
ESG Risk Score
Maximum Permitted
ESG Risk Score
(Top Subindustry
Performer)
22.4
25.3
23.2
21.8
ESG Themes Glossary
ESG Theme Theme Description Key Indicators
Environment
Carbon Output &
Energy Use
Refers to a company’s management of risks
related to its energy efficiency and
greenhouse gas emissions in its operation
as well as its products and services in the
production phase and during the product
use phase
•Carbon intensity
•Renewable energy use
•Env. Mgt. System certification
•GHG reporting / risk management
•Hazardous products
•Sustainable products & services
Waste & Pollution
Evaluates the management of emissions
and releases from a company’s own
operations to air, water, and land, excluding
greenhouse gas emissions
•Emergency response program
•Solid waste management
•Effluent management
•Radioactive waste management
•Hazardous waste management
•Non-GHG air emissions programs
•Oil spill disclosure & performance
•Recycled material use
Resource Use &
Biodiversity
Analyzes how efficiently and effectively a
company uses its raw material inputs and
water in production. It also encompasses
how a company manages the impact of its
operations on land, ecosystems, and wildlife
•Biodiversity programs
•Deforestation programs / polices
•Site closure & rehabilitation
•Water intensity & risk management
•Forest certifications
•Supplier environmental programs / certifications
•Sustainable agriculture programs
Community
Impact
(Environmental)
Evaluates the community impact from an
environmental risk perspective based on an
assessment of Community Relations,
Products & Services, Occupational Health
and Safety, and Product Governance
•Env Impact –Community Relations
•Env Impact –Products & Services
•Env Impact –Occupational Health and Safety
•Env Impact –Product Governance
ESG Themes Glossary
ESG Theme Theme Description Key Indicators
Social
Human Capital
Management
Evaluates the management of risks
related to human rights, labor rights,
equality, talent development, employee
retention, and labor health and safety
•Discrimination policy
•Diversity programs
•Gender pay equality / disclosures
•Employee development
•Supply chain management / standards
•Human rights policies & programs
•Employee health & safety
Product
Governance
Focuses on the management of risks
related to product quality, safety,
wellness, and nutrition, as well as
customer data privacy & cybersecurity
•Product & service safety programs /
certifications
•Data privacy management
•Media & advertising ethics policy
•Organic products / GMO policy
•Product health statement
Community
Relations
Assesses how companies engage with
local communities and their
management of access to essential
products or services to disadvantaged
communities or groups
•Equitable pricing and availability
•Access to health care
•Price transparency
•Human rights / indigenous policy
•Community involvement programs
•Noise management
ESG Financial Integration
& Resilience
Analyzes financial stability and issues
that pose systemic risks and potential
external costs to society in the financial
services industry. Also measures ESG
activities by financial institutions
•Systemic risk management / reporting
•Tier 1 capital
•Leverage ratio
•Responsible investment / asset management
•Underwriting standards
•Financial inclusion
•Credit & loan standards
•Green buildings investments
ESG Themes Glossary
ESG Theme Theme Description Key Indicators
Governance Corporate
Governance
Evaluates a company’s rules, policies, and
practices with a focus on how a company's
board of directors manages and oversees
the operations of a company. Also assesses
the management of general professional
ethics and lobbying activities
•Board/management quality & integrity
•Board structure
•Ownership & shareholder rights
•Remuneration
•Audit & financial reporting
•Stakeholder governance
•Bribery & corruption policies / programs
•Money laundering policy
•Whistleblower programs
•Business ethics programs
•Political involvement policy
•Lobbying and political expenses
Disclosures
This material is based on information obtained from sources generally believed to be reliable and available to the public, however
PFM Asset Management LLC cannot guarantee its accuracy, completeness or suitability. This material is for general information
purposes only and is not intended to provide specific advice or a specific recommendation.All statements as to what will or may
happen under certain circumstances are based on assumptions, some but not all of which are noted in the presentation.
Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our
control. Changes in assumptions may have a material effect on results. Past performance does not necessarily reflect and is not
a guaranty of future results. The information contained in this presentation is not an offer to purchase or sell any securities.
There is no guarantee the investment objectives will be achieved as the investment portfolio will only include holdings consistent
with the applicable Environmental, Social, and Governance (ESG) guidelines. As a result, the universe of investments available
will be more limited. ESG criteria risk is the risk that because the investment portfolio ESG criteria excludes securities of certain
issuers for nonfinancial reasons, the investment portfolio may forgo some market opportunities that would be available to
investment portfolios that do not apply ESG criteria.
PFM is the marketing name for a group of affiliated companies providing a range of services. All services are provided through
separate agreements with each company. This material is for general information purposes only and is not intended to provide
specific advice or a specific recommendation. Investment advisory services are provided by PFM Asset Management LLC, which
is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. The information contained
is not an offer to purchase or sell any securities. The material contained herein is for informational purposes only. This content is
not intended to provide financial, legal, regulatory or other professional advice. Applicable regulatory information is available upon
request. For more information regarding PFM’s services or entities, please visit www.pfm.com.
Distribution List
City Council
Heidi Harmon
Mayor
Andy Pease
Vice Mayor
Aaron Gomez
Council Member
Erica A. Stewart
Council Member
Carlyn Christianson
Council Member
Investment Oversight
Committee
Heidi Harmon
Mayor
Daniel Humphrey
Public Member
Derek Johnson
City Manager
Brigitte Elke
Director of Finance
Debbie Malicoat
Accounting Manager/Controller
Natalie Harnett
Principal Financial Analyst—Budget
Independent Auditor
Badawi & Associates
PFM Asset
Management LLC
Monique Spyke
Managing Director
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
DatePar ($) CUSIP Security Description
Transact
Amt ($)
Yield
at Market
Realized
G/L (BV)Coupon
BUY
7/2/21 7/7/21 275,000 91282CBH3 US TREASURY NOTES 1/31/26 270,162.09 0.80%0.37%
7/16/21 7/20/21 1,200,000 91282CBA8 US TREASURY NOTES 12/15/23 1,194,799.69 0.31%0.12%
8/2/21 8/6/21 2,650,000 91282CAJ0 US TREASURY NOTES 8/31/25 2,623,256.96 0.53%0.25%
8/3/21 8/10/21 640,000 46647PCM6 JPMORGAN CHASE & CO CORPORATE NOTES 8/9/25 640,000.00 0.77%0.76%
8/11/21 8/12/21 436,000 9128286G0 US TREASURY NOTES 2/29/24 463,107.09 0.35%2.37%
9/7/21 9/9/21 400,000 91282CBT7 US TREASURY N/B NOTES 3/31/26 401,281.00 0.75%0.75%
9/7/21 9/9/21 1,320,000 91282CAM3 US TREASURY NOTES 9/30/25 1,299,288.79 0.67%0.25%
6,921,000 6,891,895.62Total BUY
INTEREST
7/1/21 7/1/21 165,000 13017HAK2 CA ST EARTHQUAKE AUTH TXBL REV BONDS 7/1/23 1,218.53 1.47%
7/1/21 7/1/21 215,000 646140DP5 NJ TURNPIKE AUTHORITY TXBL REV BONDS 1/1/26 919.18 1.04%
7/2/21 7/2/21 0 MONEY0002 MONEY MARKET FUND 0.82
7/5/21 7/5/21 2,235,000 3135G0S38 FANNIE MAE NOTES 1/5/22 22,350.00 2.00%
7/8/21 7/8/21 1,350,000 931142EL3 WALMART INC CORPORATE NOTES 7/8/24 19,237.50 2.85%
7/8/21 7/8/21 625,000 86565CKU2 SUMITOMO MITSUI BANK NY CERT DEPOS 7/8/22 2,199.65 0.70%
7/10/21 7/10/21 1,195,000 3135G05G4 FANNIE MAE NOTES 7/10/23 1,493.75 0.25%
7/11/21 7/11/21 640,000 89236TEL5 TOYOTA MOTOR CREDIT CORP 1/11/23 8,640.00 2.70%
7/11/21 7/11/21 555,000 3135G0U92 FANNIE MAE NOTES 1/11/22 7,284.38 2.62%
7/15/21 7/15/21 141,444 14042WAC4 COPAR 2019-1 A3 11/15/23 295.85 2.51%
7/15/21 7/15/21 585,000 89232HAC9 TAOT 2020-A A3 5/15/24 809.25 1.66%
7/15/21 7/15/21 45,552 89239AAD5 TAOT 2019-A A3 7/15/23 110.46 2.91%
7/15/21 7/15/21 210,448 14316LAC7 CARMX 2019-2 A3 3/15/24 470.00 2.68%
7/15/21 7/15/21 183,104 44932NAD2 HYUNDAI AUTO RECEIVABLES TRUST 6/15/23 405.88 2.66%
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Activity
Trade
Date
Settle
Date
Maturity
DatePar ($) CUSIP Security Description
Transact
Amt ($)
Yield
at Market
Realized
G/L (BV)Coupon
7/15/21 7/15/21 165,000 14316NAC3 CARMX 2021-1 A3 12/15/25 46.75 0.34%
7/15/21 7/15/21 339,439 89238UAD2 TAOT 2019-C A3 9/15/23 540.27 1.91%
7/15/21 7/15/21 288,115 65479KAD2 NAROT 2019-A A3 10/15/23 696.28 2.90%
7/15/21 7/15/21 318,569 65479HAC1 NAROT 2019-B A3 11/15/23 663.69 2.50%
7/15/21 7/15/21 280,000 14315XAC2 CARMX 2020-1 A3 12/16/24 441.00 1.89%
7/15/21 7/15/21 330,000 14314QAC8 CARMX 2021-2 A3 2/17/26 143.00 0.52%
7/15/21 7/15/21 17,056 02004WAC5 ALLYA 2019-1 A3 9/15/23 41.36 2.91%
7/18/21 7/18/21 112,931 43814WAC9 HAROT 2019-1 A3 3/20/23 266.33 2.83%
7/21/21 7/21/21 275,000 43813GAC5 HAROT 2021-1 A3 4/21/25 61.88 0.27%
7/21/21 7/21/21 425,000 43813RAC1 HAROT 2020-1 A3 4/22/24 570.21 1.61%
7/21/21 7/21/21 285,007 43815MAC0 HAROT 2019-2 A3 6/21/23 598.51 2.52%
7/21/21 7/21/21 755,000 3137EAEU9 FREDDIE MAC NOTES 7/21/25 1,415.63 0.37%
7/26/21 7/26/21 870,000 3136G46V0 FANNIE MAE NOTES (CALLABLE)1/26/24 1,348.50 0.31%
7/27/21 7/27/21 750,000 459200JQ5 IBM CORP BONDS 1/27/22 9,375.00 2.50%
7/31/21 7/31/21 2,100,000 912828XQ8 US TREASURY NOTES 7/31/22 21,000.00 2.00%
7/31/21 7/31/21 1,060,000 9128285Z9 US TREASURY NOTES 1/31/24 13,250.00 2.50%
7/31/21 7/31/21 795,000 9128282P4 US TREASURY NOTES 7/31/22 7,453.13 1.87%
7/31/21 7/31/21 960,000 9128282N9 US TREASURY NOTES 7/31/24 10,200.00 2.12%
7/31/21 7/31/21 180,000 912828S92 US TREASURY NOTES 7/31/23 1,125.00 1.25%
7/31/21 7/31/21 345,000 9128286A3 US TREASURY NOTES 1/31/26 4,528.13 2.62%
7/31/21 7/31/21 1,135,000 91282CBH3 US TREASURY NOTES 1/31/26 2,128.13 0.37%
7/31/21 7/31/21 1,545,000 912828V72 US TREASURY NOTES 1/31/22 14,484.38 1.87%
8/1/21 8/1/21 225,000 797272QN4 SAN DIEGO CCD, CA TXBL GO BONDS 8/1/23 2,245.50 1.99%
8/1/21 8/1/21 315,000 54438CYK2 LOS ANGELES CCD, CA TXBL GO BONDS 8/1/25 1,217.48 0.77%
8/1/21 8/1/21 600,000 00724PAB5 ADOBE INC CORP NOTE 2/1/25 5,700.00 1.90%
8/1/21 8/1/21 210,000 574193TQ1 MD ST TXBL GO BONDS 8/1/24 535.50 0.51%
8/3/21 8/3/21 0 MONEY0002 MONEY MARKET FUND 1.17
8/5/21 8/5/21 440,000 3135G0V34 FANNIE MAE NOTES 2/5/24 5,500.00 2.50%
8/9/21 8/9/21 1,050,000 037833CM0 APPLE INC CORP NOTES 2/9/22 13,125.00 2.50%
8/12/21 8/12/21 1,090,000 3137EAEP0 FREDDIE MAC NOTES 2/12/25 8,175.00 1.50%
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Activity
Trade
Date
Settle
Date
Maturity
DatePar ($) CUSIP Security Description
Transact
Amt ($)
Yield
at Market
Realized
G/L (BV)Coupon
8/13/21 8/13/21 120,000 3130AFW94 FHLB BONDS 2/13/24 1,500.00 2.50%
8/14/21 8/14/21 800,000 83369XDL9 SOCIETE GENERALE NY CERT DEPOS 2/14/22 7,200.00 1.80%
8/15/21 8/15/21 165,000 14316NAC3 CARMX 2021-1 A3 12/15/25 46.75 0.34%
8/15/21 8/15/21 193,580 14316LAC7 CARMX 2019-2 A3 3/15/24 432.33 2.68%
8/15/21 8/15/21 15,252 02004WAC5 ALLYA 2019-1 A3 9/15/23 36.99 2.91%
8/15/21 8/15/21 290,393 65479HAC1 NAROT 2019-B A3 11/15/23 604.99 2.50%
8/15/21 8/15/21 585,000 89232HAC9 TAOT 2020-A A3 5/15/24 809.25 1.66%
8/15/21 8/15/21 260,134 65479KAD2 NAROT 2019-A A3 10/15/23 628.66 2.90%
8/15/21 8/15/21 330,000 14314QAC8 CARMX 2021-2 A3 2/17/26 143.00 0.52%
8/15/21 8/15/21 41,225 89239AAD5 TAOT 2019-A A3 7/15/23 99.97 2.91%
8/15/21 8/15/21 162,078 44932NAD2 HYUNDAI AUTO RECEIVABLES TRUST 6/15/23 359.27 2.66%
8/15/21 8/15/21 280,000 14315XAC2 CARMX 2020-1 A3 12/16/24 441.00 1.89%
8/15/21 8/15/21 128,202 14042WAC4 COPAR 2019-1 A3 11/15/23 268.16 2.51%
8/15/21 8/15/21 309,587 89238UAD2 TAOT 2019-C A3 9/15/23 492.76 1.91%
8/17/21 8/17/21 1,075,000 3130AJ7E3 FEDERAL HOME LOAN BANKS NOTES 2/17/23 7,390.63 1.37%
8/18/21 8/18/21 100,673 43814WAC9 HAROT 2019-1 A3 3/20/23 237.42 2.83%
8/21/21 8/21/21 425,000 43813RAC1 HAROT 2020-1 A3 4/22/24 570.21 1.61%
8/21/21 8/21/21 258,644 43815MAC0 HAROT 2019-2 A3 6/21/23 543.15 2.52%
8/21/21 8/21/21 275,000 43813GAC5 HAROT 2021-1 A3 4/21/25 61.88 0.27%
8/22/21 8/22/21 775,000 023135AW6 AMAZON.COM INC BONDS 2/22/23 9,300.00 2.40%
8/24/21 8/24/21 745,000 3137EAEV7 FREDDIE MAC NOTES 8/24/23 931.25 0.25%
8/25/21 8/25/21 1,860,000 3135G05X7 FANNIE MAE NOTES 8/25/25 3,487.50 0.37%
8/26/21 8/26/21 1,145,000 65558TLL7 NORDEA BANK ABP NEW YORK CERT DEPOS 8/26/22 10,650.09 1.85%
8/26/21 8/26/21 1,200,000 83050PDR7 SKANDINAV ENSKILDA BANK LT CD 8/26/22 11,222.00 1.86%
8/31/21 8/31/21 436,000 9128286G0 US TREASURY NOTES 2/29/24 5,177.50 2.37%
8/31/21 8/31/21 365,000 912828J43 US TREASURY NOTES 2/28/22 3,193.75 1.75%
8/31/21 8/31/21 1,950,000 91282CBQ3 US TREASURY NOTES 2/28/26 4,875.00 0.50%
8/31/21 8/31/21 2,650,000 91282CAJ0 US TREASURY NOTES 8/31/25 3,312.50 0.25%
9/2/21 9/2/21 0 MONEY0002 MONEY MARKET FUND 1.45
9/3/21 9/3/21 600,000 57636QAN4 MASTERCARD INC CORPORATE NOTES 3/3/25 6,000.00 2.00%
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Activity
Trade
Date
Settle
Date
Maturity
DatePar ($) CUSIP Security Description
Transact
Amt ($)
Yield
at Market
Realized
G/L (BV)Coupon
9/12/21 9/12/21 1,570,000 3135G0U43 FANNIE MAE NOTES 9/12/23 22,568.75 2.87%
9/15/21 9/15/21 330,000 14314QAC8 CARMX 2021-2 A3 2/17/26 143.00 0.52%
9/15/21 9/15/21 37,197 89239AAD5 TAOT 2019-A A3 7/15/23 90.20 2.91%
9/15/21 9/15/21 282,708 89238UAD2 TAOT 2019-C A3 9/15/23 449.98 1.91%
9/15/21 9/15/21 233,998 65479KAD2 NAROT 2019-A A3 10/15/23 565.49 2.90%
9/15/21 9/15/21 585,000 89232HAC9 TAOT 2020-A A3 5/15/24 809.25 1.66%
9/15/21 9/15/21 13,550 02004WAC5 ALLYA 2019-1 A3 9/15/23 32.86 2.91%
9/15/21 9/15/21 178,009 14316LAC7 CARMX 2019-2 A3 3/15/24 397.55 2.68%
9/15/21 9/15/21 142,522 44932NAD2 HYUNDAI AUTO RECEIVABLES TRUST 6/15/23 315.92 2.66%
9/15/21 9/15/21 165,000 14316NAC3 CARMX 2021-1 A3 12/15/25 46.75 0.34%
9/15/21 9/15/21 280,000 14315XAC2 CARMX 2020-1 A3 12/16/24 441.00 1.89%
9/15/21 9/15/21 115,153 14042WAC4 COPAR 2019-1 A3 11/15/23 240.86 2.51%
9/15/21 9/15/21 265,190 65479HAC1 NAROT 2019-B A3 11/15/23 552.48 2.50%
9/15/21 9/15/21 1,100,000 717081ES8 PFIZER INC CORP NOTES 3/15/24 16,225.00 2.95%
9/16/21 9/16/21 480,000 46647PBS4 JPMORGAN CHASE & CO CORPORATE NOTES (CAL 9/16/24 1,567.20 0.65%
9/18/21 9/18/21 88,687 43814WAC9 HAROT 2019-1 A3 3/20/23 209.15 2.83%
9/21/21 9/21/21 800,000 3133EMAM4 FEDERAL FARM CREDIT BANK (CALLABLE)9/21/23 1,000.00 0.25%
9/21/21 9/21/21 425,000 43813RAC1 HAROT 2020-1 A3 4/22/24 570.21 1.61%
9/21/21 9/21/21 275,000 43813GAC5 HAROT 2021-1 A3 4/21/25 61.88 0.27%
9/21/21 9/21/21 233,902 43815MAC0 HAROT 2019-2 A3 6/21/23 491.19 2.52%
9/23/21 9/23/21 2,055,000 3137EAEX3 FREDDIE MAC NOTES 9/23/25 3,853.13 0.37%
9/25/21 9/25/21 560,000 458140BP4 INTEL CORP CORPORATE NOTES 3/25/25 9,520.00 3.40%
9/30/21 9/30/21 400,000 91282CBT7 US TREASURY N/B NOTES 3/31/26 1,500.00 0.75%
9/30/21 9/30/21 195,000 9128282Y5 US TREASURY NOTES 9/30/24 2,071.88 2.12%
9/30/21 9/30/21 4,660,000 912828W89 US TREASURY NOTES 3/31/22 43,687.50 1.87%
9/30/21 9/30/21 200,000 912828Q29 US TREASURY NOTES 3/31/23 1,500.00 1.50%
9/30/21 9/30/21 1,460,000 912828L57 US TREASURY NOTES 9/30/22 12,775.00 1.75%
9/30/21 9/30/21 1,320,000 91282CAM3 US TREASURY NOTES 9/30/25 1,650.00 0.25%
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Activity
Trade
Date
Settle
Date
Maturity
DatePar ($) CUSIP Security Description
Transact
Amt ($)
Yield
at Market
Realized
G/L (BV)Coupon
61,398,348 395,665.77Total INTEREST
MATURITY
7/20/21 7/20/21 1,000,000 3134GV6H6 FREDDIE MAC NOTES (CALLED, OMD 10/20/22)7/20/21 1,001,600.00 0.00 0.32%
8/6/21 8/6/21 2,485,000 3134GWLD6 FREDDIE MAC NOTES (CALLED, OMD 2/6/23)8/6/21 2,488,727.50 0.00 0.30%
9/9/21 9/9/21 400,000 02665WBG5 AMERICAN HONDA FINANCE CORP NOTES 9/9/21 403,400.00 0.00 1.70%
3,885,000 3,893,727.50 0.00Total MATURITY
PAYDOWNS
7/15/21 7/15/21 1,804 02004WAC5 ALLYA 2019-1 A3 9/15/23 1,803.59 0.00 2.91%
7/15/21 7/15/21 29,852 89238UAD2 TAOT 2019-C A3 9/15/23 29,851.89 0.00 1.91%
7/15/21 7/15/21 4,326 89239AAD5 TAOT 2019-A A3 7/15/23 4,326.35 0.00 2.91%
7/15/21 7/15/21 16,868 14316LAC7 CARMX 2019-2 A3 3/15/24 16,868.18 0.00 2.68%
7/15/21 7/15/21 13,242 14042WAC4 COPAR 2019-1 A3 11/15/23 13,241.71 0.00 2.51%
7/15/21 7/15/21 28,176 65479HAC1 NAROT 2019-B A3 11/15/23 28,175.66 0.00 2.50%
7/15/21 7/15/21 27,980 65479KAD2 NAROT 2019-A A3 10/15/23 27,980.36 0.00 2.90%
7/15/21 7/15/21 21,025 44932NAD2 HYUNDAI AUTO RECEIVABLES TRUST 6/15/23 21,025.49 0.00 2.66%
7/18/21 7/18/21 12,258 43814WAC9 HAROT 2019-1 A3 3/20/23 12,257.64 0.00 2.83%
7/21/21 7/21/21 26,363 43815MAC0 HAROT 2019-2 A3 6/21/23 26,363.07 0.00 2.52%
8/15/21 8/15/21 4,029 89239AAD5 TAOT 2019-A A3 7/15/23 4,028.59 0.00 2.91%
8/15/21 8/15/21 26,878 89238UAD2 TAOT 2019-C A3 9/15/23 26,878.47 0.00 1.91%
8/15/21 8/15/21 19,557 44932NAD2 HYUNDAI AUTO RECEIVABLES TRUST 6/15/23 19,556.68 0.00 2.66%
8/15/21 8/15/21 1,702 02004WAC5 ALLYA 2019-1 A3 9/15/23 1,701.57 0.00 2.91%
8/15/21 8/15/21 26,137 65479KAD2 NAROT 2019-A A3 10/15/23 26,136.50 0.00 2.90%
8/15/21 8/15/21 25,203 65479HAC1 NAROT 2019-B A3 11/15/23 25,203.12 0.00 2.50%
8/15/21 8/15/21 15,571 14316LAC7 CARMX 2019-2 A3 3/15/24 15,570.98 0.00 2.68%
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Activity
Trade
Date
Settle
Date
Maturity
DatePar ($) CUSIP Security Description
Transact
Amt ($)
Yield
at Market
Realized
G/L (BV)Coupon
8/15/21 8/15/21 13,049 14042WAC4 COPAR 2019-1 A3 11/15/23 13,049.04 0.00 2.51%
8/18/21 8/18/21 11,986 43814WAC9 HAROT 2019-1 A3 3/20/23 11,986.46 0.00 2.83%
8/21/21 8/21/21 24,742 43815MAC0 HAROT 2019-2 A3 6/21/23 24,741.95 0.00 2.52%
9/15/21 9/15/21 18,480 44932NAD2 HYUNDAI AUTO RECEIVABLES TRUST 6/15/23 18,479.78 0.00 2.66%
9/15/21 9/15/21 11,801 14042WAC4 COPAR 2019-1 A3 11/15/23 11,801.27 0.00 2.51%
9/15/21 9/15/21 1,637 02004WAC5 ALLYA 2019-1 A3 9/15/23 1,636.53 0.00 2.91%
9/15/21 9/15/21 3,922 89239AAD5 TAOT 2019-A A3 7/15/23 3,922.14 0.00 2.91%
9/15/21 9/15/21 26,130 89238UAD2 TAOT 2019-C A3 9/15/23 26,129.90 0.00 1.91%
9/15/21 9/15/21 14,767 14316LAC7 CARMX 2019-2 A3 3/15/24 14,766.67 0.00 2.68%
9/15/21 9/15/21 24,871 65479KAD2 NAROT 2019-A A3 10/15/23 24,870.76 0.00 2.90%
9/15/21 9/15/21 24,570 65479HAC1 NAROT 2019-B A3 11/15/23 24,569.97 0.00 2.50%
9/18/21 9/18/21 10,919 43814WAC9 HAROT 2019-1 A3 3/20/23 10,919.16 0.00 2.83%
9/21/21 9/21/21 23,387 43815MAC0 HAROT 2019-2 A3 6/21/23 23,387.41 0.00 2.52%
511,231 511,230.89 0.00Total PAYDOWNS
SELL
8/9/21 8/10/21 640,000 91282CBA8 US TREASURY NOTES 12/15/23 637,697.40 (1,165.88)0.12%
8/11/21 8/12/21 440,000 3135G0V34 FANNIE MAE NOTES 2/5/24 464,154.29 24,754.76 2.50%
9/7/21 9/9/21 115,000 912828F96 US TREASURY NOTES 10/31/21 116,148.44 397.40 2.00%
9/7/21 9/9/21 885,000 912828F96 US TREASURY NOTES 10/31/21 893,837.97 2,317.91 2.00%
2,080,000 2,111,838.10 26,304.19Total SELL
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Activity
Quarterly Portfolio Transactions
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
7/1/21 7/1/21 165,000.00 13017HAK2 CA ST EARTHQUAKE AUTH TXBL REV BONDSINTEREST 7/1/23 1,218.53 1.47%
7/1/21 7/1/21 215,000.00 646140DP5 NJ TURNPIKE AUTHORITY TXBL REV BONDSINTEREST 1/1/26 919.18 1.04%
7/2/21 7/2/21 0.00 MONEY0002 MONEY MARKET FUNDINTEREST 0.82
7/2/21 7/7/21 275,000.00 91282CBH3 US TREASURY NOTESBUY 1/31/26 (270,162.09) 0.80%0.37%
7/5/21 7/5/21 2,235,000.00 3135G0S38 FANNIE MAE NOTESINTEREST 1/5/22 22,350.00 2.00%
7/8/21 7/8/21 1,350,000.00 931142EL3 WALMART INC CORPORATE NOTESINTEREST 7/8/24 19,237.50 2.85%
7/8/21 7/8/21 625,000.00 86565CKU2 SUMITOMO MITSUI BANK NY CERT DEPOSINTEREST 7/8/22 2,199.65 0.70%
7/10/21 7/10/21 1,195,000.00 3135G05G4 FANNIE MAE NOTESINTEREST 7/10/23 1,493.75 0.25%
7/11/21 7/11/21 640,000.00 89236TEL5 TOYOTA MOTOR CREDIT CORPINTEREST 1/11/23 8,640.00 2.70%
7/11/21 7/11/21 555,000.00 3135G0U92 FANNIE MAE NOTESINTEREST 1/11/22 7,284.38 2.62%
7/15/21 7/15/21 141,443.92 14042WAC4 COPAR 2019-1 A3INTEREST 11/15/23 295.85 2.51%
7/15/21 7/15/21 585,000.00 89232HAC9 TAOT 2020-A A3INTEREST 5/15/24 809.25 1.66%
7/15/21 7/15/21 45,551.75 89239AAD5 TAOT 2019-A A3INTEREST 7/15/23 110.46 2.91%
7/15/21 7/15/21 210,448.29 14316LAC7 CARMX 2019-2 A3INTEREST 3/15/24 470.00 2.68%
7/15/21 7/15/21 183,103.71 44932NAD2 HYUNDAI AUTO RECEIVABLES TRUSTINTEREST 6/15/23 405.88 2.66%
7/15/21 7/15/21 165,000.00 14316NAC3 CARMX 2021-1 A3INTEREST 12/15/25 46.75 0.34%
7/15/21 7/15/21 339,438.66 89238UAD2 TAOT 2019-C A3INTEREST 9/15/23 540.27 1.91%
7/15/21 7/15/21 288,114.65 65479KAD2 NAROT 2019-A A3INTEREST 10/15/23 696.28 2.90%
7/15/21 7/15/21 318,568.97 65479HAC1 NAROT 2019-B A3INTEREST 11/15/23 663.69 2.50%
7/15/21 7/15/21 280,000.00 14315XAC2 CARMX 2020-1 A3INTEREST 12/16/24 441.00 1.89%
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
7/15/21 7/15/21 330,000.00 14314QAC8 CARMX 2021-2 A3INTEREST 2/17/26 143.00 0.52%
7/15/21 7/15/21 17,055.52 02004WAC5 ALLYA 2019-1 A3INTEREST 9/15/23 41.36 2.91%
7/15/21 7/15/21 1,803.59 02004WAC5 ALLYA 2019-1 A3PAYDOWNS 9/15/23 1,803.59 0.00 2.91%
7/15/21 7/15/21 29,851.89 89238UAD2 TAOT 2019-C A3PAYDOWNS 9/15/23 29,851.89 0.00 1.91%
7/15/21 7/15/21 4,326.35 89239AAD5 TAOT 2019-A A3PAYDOWNS 7/15/23 4,326.35 0.00 2.91%
7/15/21 7/15/21 16,868.18 14316LAC7 CARMX 2019-2 A3PAYDOWNS 3/15/24 16,868.18 0.00 2.68%
7/15/21 7/15/21 13,241.71 14042WAC4 COPAR 2019-1 A3PAYDOWNS 11/15/23 13,241.71 0.00 2.51%
7/15/21 7/15/21 28,175.66 65479HAC1 NAROT 2019-B A3PAYDOWNS 11/15/23 28,175.66 0.00 2.50%
7/15/21 7/15/21 27,980.36 65479KAD2 NAROT 2019-A A3PAYDOWNS 10/15/23 27,980.36 0.00 2.90%
7/15/21 7/15/21 21,025.49 44932NAD2 HYUNDAI AUTO RECEIVABLES TRUSTPAYDOWNS 6/15/23 21,025.49 0.00 2.66%
7/16/21 7/20/21 1,200,000.00 91282CBA8 US TREASURY NOTESBUY 12/15/23 (1,194,799.69) 0.31%0.12%
7/18/21 7/18/21 112,930.68 43814WAC9 HAROT 2019-1 A3INTEREST 3/20/23 266.33 2.83%
7/18/21 7/18/21 12,257.64 43814WAC9 HAROT 2019-1 A3PAYDOWNS 3/20/23 12,257.64 0.00 2.83%
7/20/21 7/20/21 1,000,000.00 3134GV6H6 FREDDIE MAC NOTES (CALLED, OMD 10/20/22)MATURITY 7/20/21 1,001,600.00 0.00 0.32%
7/21/21 7/21/21 275,000.00 43813GAC5 HAROT 2021-1 A3INTEREST 4/21/25 61.88 0.27%
7/21/21 7/21/21 425,000.00 43813RAC1 HAROT 2020-1 A3INTEREST 4/22/24 570.21 1.61%
7/21/21 7/21/21 285,006.81 43815MAC0 HAROT 2019-2 A3INTEREST 6/21/23 598.51 2.52%
7/21/21 7/21/21 755,000.00 3137EAEU9 FREDDIE MAC NOTESINTEREST 7/21/25 1,415.63 0.37%
7/21/21 7/21/21 26,363.07 43815MAC0 HAROT 2019-2 A3PAYDOWNS 6/21/23 26,363.07 0.00 2.52%
7/26/21 7/26/21 870,000.00 3136G46V0 FANNIE MAE NOTES (CALLABLE)INTEREST 1/26/24 1,348.50 0.31%
7/27/21 7/27/21 750,000.00 459200JQ5 IBM CORP BONDSINTEREST 1/27/22 9,375.00 2.50%
7/31/21 7/31/21 2,100,000.00 912828XQ8 US TREASURY NOTESINTEREST 7/31/22 21,000.00 2.00%
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
7/31/21 7/31/21 1,060,000.00 9128285Z9 US TREASURY NOTESINTEREST 1/31/24 13,250.00 2.50%
7/31/21 7/31/21 795,000.00 9128282P4 US TREASURY NOTESINTEREST 7/31/22 7,453.13 1.87%
7/31/21 7/31/21 960,000.00 9128282N9 US TREASURY NOTESINTEREST 7/31/24 10,200.00 2.12%
7/31/21 7/31/21 180,000.00 912828S92 US TREASURY NOTESINTEREST 7/31/23 1,125.00 1.25%
7/31/21 7/31/21 345,000.00 9128286A3 US TREASURY NOTESINTEREST 1/31/26 4,528.13 2.62%
7/31/21 7/31/21 1,135,000.00 91282CBH3 US TREASURY NOTESINTEREST 1/31/26 2,128.13 0.37%
7/31/21 7/31/21 1,545,000.00 912828V72 US TREASURY NOTESINTEREST 1/31/22 14,484.38 1.87%
8/1/21 8/1/21 225,000.00 797272QN4 SAN DIEGO CCD, CA TXBL GO BONDSINTEREST 8/1/23 2,245.50 1.99%
8/1/21 8/1/21 315,000.00 54438CYK2 LOS ANGELES CCD, CA TXBL GO BONDSINTEREST 8/1/25 1,217.48 0.77%
8/1/21 8/1/21 600,000.00 00724PAB5 ADOBE INC CORP NOTEINTEREST 2/1/25 5,700.00 1.90%
8/1/21 8/1/21 210,000.00 574193TQ1 MD ST TXBL GO BONDSINTEREST 8/1/24 535.50 0.51%
8/2/21 8/6/21 2,650,000.00 91282CAJ0 US TREASURY NOTESBUY 8/31/25 (2,623,256.96) 0.53%0.25%
8/3/21 8/3/21 0.00 MONEY0002 MONEY MARKET FUNDINTEREST 1.17
8/3/21 8/10/21 640,000.00 46647PCM6 JPMORGAN CHASE & CO CORPORATE NOTESBUY 8/9/25 (640,000.00) 0.77%0.76%
8/5/21 8/5/21 440,000.00 3135G0V34 FANNIE MAE NOTESINTEREST 2/5/24 5,500.00 2.50%
8/6/21 8/6/21 2,485,000.00 3134GWLD6 FREDDIE MAC NOTES (CALLED, OMD 2/6/23)MATURITY 8/6/21 2,488,727.50 0.00 0.30%
8/9/21 8/9/21 1,050,000.00 037833CM0 APPLE INC CORP NOTESINTEREST 2/9/22 13,125.00 2.50%
8/9/21 8/10/21 640,000.00 91282CBA8 US TREASURY NOTESSELL 12/15/23 637,697.40 (1,165.88)0.12%
8/11/21 8/12/21 436,000.00 9128286G0 US TREASURY NOTESBUY 2/29/24 (463,107.09) 0.35%2.37%
8/11/21 8/12/21 440,000.00 3135G0V34 FANNIE MAE NOTESSELL 2/5/24 464,154.29 24,754.76 2.50%
8/12/21 8/12/21 1,090,000.00 3137EAEP0 FREDDIE MAC NOTESINTEREST 2/12/25 8,175.00 1.50%
8/13/21 8/13/21 120,000.00 3130AFW94 FHLB BONDSINTEREST 2/13/24 1,500.00 2.50%
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
8/14/21 8/14/21 800,000.00 83369XDL9 SOCIETE GENERALE NY CERT DEPOSINTEREST 2/14/22 7,200.00 1.80%
8/15/21 8/15/21 165,000.00 14316NAC3 CARMX 2021-1 A3INTEREST 12/15/25 46.75 0.34%
8/15/21 8/15/21 193,580.11 14316LAC7 CARMX 2019-2 A3INTEREST 3/15/24 432.33 2.68%
8/15/21 8/15/21 15,251.93 02004WAC5 ALLYA 2019-1 A3INTEREST 9/15/23 36.99 2.91%
8/15/21 8/15/21 290,393.31 65479HAC1 NAROT 2019-B A3INTEREST 11/15/23 604.99 2.50%
8/15/21 8/15/21 585,000.00 89232HAC9 TAOT 2020-A A3INTEREST 5/15/24 809.25 1.66%
8/15/21 8/15/21 260,134.29 65479KAD2 NAROT 2019-A A3INTEREST 10/15/23 628.66 2.90%
8/15/21 8/15/21 330,000.00 14314QAC8 CARMX 2021-2 A3INTEREST 2/17/26 143.00 0.52%
8/15/21 8/15/21 41,225.40 89239AAD5 TAOT 2019-A A3INTEREST 7/15/23 99.97 2.91%
8/15/21 8/15/21 162,078.22 44932NAD2 HYUNDAI AUTO RECEIVABLES TRUSTINTEREST 6/15/23 359.27 2.66%
8/15/21 8/15/21 280,000.00 14315XAC2 CARMX 2020-1 A3INTEREST 12/16/24 441.00 1.89%
8/15/21 8/15/21 128,202.21 14042WAC4 COPAR 2019-1 A3INTEREST 11/15/23 268.16 2.51%
8/15/21 8/15/21 309,586.77 89238UAD2 TAOT 2019-C A3INTEREST 9/15/23 492.76 1.91%
8/15/21 8/15/21 4,028.59 89239AAD5 TAOT 2019-A A3PAYDOWNS 7/15/23 4,028.59 0.00 2.91%
8/15/21 8/15/21 26,878.47 89238UAD2 TAOT 2019-C A3PAYDOWNS 9/15/23 26,878.47 0.00 1.91%
8/15/21 8/15/21 19,556.68 44932NAD2 HYUNDAI AUTO RECEIVABLES TRUSTPAYDOWNS 6/15/23 19,556.68 0.00 2.66%
8/15/21 8/15/21 1,701.57 02004WAC5 ALLYA 2019-1 A3PAYDOWNS 9/15/23 1,701.57 0.00 2.91%
8/15/21 8/15/21 26,136.50 65479KAD2 NAROT 2019-A A3PAYDOWNS 10/15/23 26,136.50 0.00 2.90%
8/15/21 8/15/21 25,203.12 65479HAC1 NAROT 2019-B A3PAYDOWNS 11/15/23 25,203.12 0.00 2.50%
8/15/21 8/15/21 15,570.98 14316LAC7 CARMX 2019-2 A3PAYDOWNS 3/15/24 15,570.98 0.00 2.68%
8/15/21 8/15/21 13,049.04 14042WAC4 COPAR 2019-1 A3PAYDOWNS 11/15/23 13,049.04 0.00 2.51%
8/17/21 8/17/21 1,075,000.00 3130AJ7E3 FEDERAL HOME LOAN BANKS NOTESINTEREST 2/17/23 7,390.63 1.37%
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
8/18/21 8/18/21 100,673.04 43814WAC9 HAROT 2019-1 A3INTEREST 3/20/23 237.42 2.83%
8/18/21 8/18/21 11,986.46 43814WAC9 HAROT 2019-1 A3PAYDOWNS 3/20/23 11,986.46 0.00 2.83%
8/21/21 8/21/21 425,000.00 43813RAC1 HAROT 2020-1 A3INTEREST 4/22/24 570.21 1.61%
8/21/21 8/21/21 258,643.74 43815MAC0 HAROT 2019-2 A3INTEREST 6/21/23 543.15 2.52%
8/21/21 8/21/21 275,000.00 43813GAC5 HAROT 2021-1 A3INTEREST 4/21/25 61.88 0.27%
8/21/21 8/21/21 24,741.95 43815MAC0 HAROT 2019-2 A3PAYDOWNS 6/21/23 24,741.95 0.00 2.52%
8/22/21 8/22/21 775,000.00 023135AW6 AMAZON.COM INC BONDSINTEREST 2/22/23 9,300.00 2.40%
8/24/21 8/24/21 745,000.00 3137EAEV7 FREDDIE MAC NOTESINTEREST 8/24/23 931.25 0.25%
8/25/21 8/25/21 1,860,000.00 3135G05X7 FANNIE MAE NOTESINTEREST 8/25/25 3,487.50 0.37%
8/26/21 8/26/21 1,145,000.00 65558TLL7 NORDEA BANK ABP NEW YORK CERT DEPOSINTEREST 8/26/22 10,650.09 1.85%
8/26/21 8/26/21 1,200,000.00 83050PDR7 SKANDINAV ENSKILDA BANK LT CDINTEREST 8/26/22 11,222.00 1.86%
8/31/21 8/31/21 436,000.00 9128286G0 US TREASURY NOTESINTEREST 2/29/24 5,177.50 2.37%
8/31/21 8/31/21 365,000.00 912828J43 US TREASURY NOTESINTEREST 2/28/22 3,193.75 1.75%
8/31/21 8/31/21 1,950,000.00 91282CBQ3 US TREASURY NOTESINTEREST 2/28/26 4,875.00 0.50%
8/31/21 8/31/21 2,650,000.00 91282CAJ0 US TREASURY NOTESINTEREST 8/31/25 3,312.50 0.25%
9/2/21 9/2/21 0.00 MONEY0002 MONEY MARKET FUNDINTEREST 1.45
9/3/21 9/3/21 600,000.00 57636QAN4 MASTERCARD INC CORPORATE NOTESINTEREST 3/3/25 6,000.00 2.00%
9/7/21 9/9/21 400,000.00 91282CBT7 US TREASURY N/B NOTESBUY 3/31/26 (401,281.00) 0.75%0.75%
9/7/21 9/9/21 1,320,000.00 91282CAM3 US TREASURY NOTESBUY 9/30/25 (1,299,288.79) 0.67%0.25%
9/7/21 9/9/21 115,000.00 912828F96 US TREASURY NOTESSELL 10/31/21 116,148.44 397.40 2.00%
9/7/21 9/9/21 885,000.00 912828F96 US TREASURY NOTESSELL 10/31/21 893,837.97 2,317.91 2.00%
9/9/21 9/9/21 400,000.00 02665WBG5 AMERICAN HONDA FINANCE CORP NOTESMATURITY 9/9/21 403,400.00 0.00 1.70%
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
9/12/21 9/12/21 1,570,000.00 3135G0U43 FANNIE MAE NOTESINTEREST 9/12/23 22,568.75 2.87%
9/15/21 9/15/21 330,000.00 14314QAC8 CARMX 2021-2 A3INTEREST 2/17/26 143.00 0.52%
9/15/21 9/15/21 37,196.81 89239AAD5 TAOT 2019-A A3INTEREST 7/15/23 90.20 2.91%
9/15/21 9/15/21 282,708.30 89238UAD2 TAOT 2019-C A3INTEREST 9/15/23 449.98 1.91%
9/15/21 9/15/21 233,997.79 65479KAD2 NAROT 2019-A A3INTEREST 10/15/23 565.49 2.90%
9/15/21 9/15/21 585,000.00 89232HAC9 TAOT 2020-A A3INTEREST 5/15/24 809.25 1.66%
9/15/21 9/15/21 13,550.36 02004WAC5 ALLYA 2019-1 A3INTEREST 9/15/23 32.86 2.91%
9/15/21 9/15/21 178,009.13 14316LAC7 CARMX 2019-2 A3INTEREST 3/15/24 397.55 2.68%
9/15/21 9/15/21 142,521.54 44932NAD2 HYUNDAI AUTO RECEIVABLES TRUSTINTEREST 6/15/23 315.92 2.66%
9/15/21 9/15/21 165,000.00 14316NAC3 CARMX 2021-1 A3INTEREST 12/15/25 46.75 0.34%
9/15/21 9/15/21 280,000.00 14315XAC2 CARMX 2020-1 A3INTEREST 12/16/24 441.00 1.89%
9/15/21 9/15/21 115,153.17 14042WAC4 COPAR 2019-1 A3INTEREST 11/15/23 240.86 2.51%
9/15/21 9/15/21 265,190.19 65479HAC1 NAROT 2019-B A3INTEREST 11/15/23 552.48 2.50%
9/15/21 9/15/21 1,100,000.00 717081ES8 PFIZER INC CORP NOTESINTEREST 3/15/24 16,225.00 2.95%
9/15/21 9/15/21 18,479.78 44932NAD2 HYUNDAI AUTO RECEIVABLES TRUSTPAYDOWNS 6/15/23 18,479.78 0.00 2.66%
9/15/21 9/15/21 11,801.27 14042WAC4 COPAR 2019-1 A3PAYDOWNS 11/15/23 11,801.27 0.00 2.51%
9/15/21 9/15/21 1,636.53 02004WAC5 ALLYA 2019-1 A3PAYDOWNS 9/15/23 1,636.53 0.00 2.91%
9/15/21 9/15/21 3,922.14 89239AAD5 TAOT 2019-A A3PAYDOWNS 7/15/23 3,922.14 0.00 2.91%
9/15/21 9/15/21 26,129.90 89238UAD2 TAOT 2019-C A3PAYDOWNS 9/15/23 26,129.90 0.00 1.91%
9/15/21 9/15/21 14,766.67 14316LAC7 CARMX 2019-2 A3PAYDOWNS 3/15/24 14,766.67 0.00 2.68%
9/15/21 9/15/21 24,870.76 65479KAD2 NAROT 2019-A A3PAYDOWNS 10/15/23 24,870.76 0.00 2.90%
9/15/21 9/15/21 24,569.97 65479HAC1 NAROT 2019-B A3PAYDOWNS 11/15/23 24,569.97 0.00 2.50%
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Activity
Security DescriptionCUSIPPar ($) Settle
Date
Trade
Date
Tran.
Type
Maturity
Date
Transact
Amt ($)Yield Realized
G/L (BV)Coupon
9/16/21 9/16/21 480,000.00 46647PBS4 JPMORGAN CHASE & CO CORPORATE NOTES
(CAL
INTEREST 9/16/24 1,567.20 0.65%
9/18/21 9/18/21 88,686.58 43814WAC9 HAROT 2019-1 A3INTEREST 3/20/23 209.15 2.83%
9/18/21 9/18/21 10,919.16 43814WAC9 HAROT 2019-1 A3PAYDOWNS 3/20/23 10,919.16 0.00 2.83%
9/21/21 9/21/21 800,000.00 3133EMAM4 FEDERAL FARM CREDIT BANK (CALLABLE)INTEREST 9/21/23 1,000.00 0.25%
9/21/21 9/21/21 425,000.00 43813RAC1 HAROT 2020-1 A3INTEREST 4/22/24 570.21 1.61%
9/21/21 9/21/21 275,000.00 43813GAC5 HAROT 2021-1 A3INTEREST 4/21/25 61.88 0.27%
9/21/21 9/21/21 233,901.79 43815MAC0 HAROT 2019-2 A3INTEREST 6/21/23 491.19 2.52%
9/21/21 9/21/21 23,387.41 43815MAC0 HAROT 2019-2 A3PAYDOWNS 6/21/23 23,387.41 0.00 2.52%
9/23/21 9/23/21 2,055,000.00 3137EAEX3 FREDDIE MAC NOTESINTEREST 9/23/25 3,853.13 0.37%
9/25/21 9/25/21 560,000.00 458140BP4 INTEL CORP CORPORATE NOTESINTEREST 3/25/25 9,520.00 3.40%
9/30/21 9/30/21 400,000.00 91282CBT7 US TREASURY N/B NOTESINTEREST 3/31/26 1,500.00 0.75%
9/30/21 9/30/21 195,000.00 9128282Y5 US TREASURY NOTESINTEREST 9/30/24 2,071.88 2.12%
9/30/21 9/30/21 4,660,000.00 912828W89 US TREASURY NOTESINTEREST 3/31/22 43,687.50 1.87%
9/30/21 9/30/21 200,000.00 912828Q29 US TREASURY NOTESINTEREST 3/31/23 1,500.00 1.50%
9/30/21 9/30/21 1,460,000.00 912828L57 US TREASURY NOTESINTEREST 9/30/22 12,775.00 1.75%
9/30/21 9/30/21 1,320,000.00 91282CAM3 US TREASURY NOTESINTEREST 9/30/25 1,650.00 0.25%
TOTALS 20,566.64 26,304.19
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
U.S. Treasury Bond / Note
AA+ Aaa 1/6/2021 1/7/2021 3,487,732.62 28,749.46 3,440,326.53 3,440,367.190.11US TREASURY NOTES
DTD 10/31/2014 2.000% 10/31/2021
912828F96 3,435,000.00
AA+ Aaa 3/1/2018 3/5/2018 1,263,767.39 10,754.89 1,284,523.22 1,287,007.812.48US TREASURY NOTES
DTD 10/31/2014 2.000% 10/31/2021
912828F96 1,285,000.00
AA+ Aaa 11/1/2017 11/3/2017 745,107.42 4,410.86 749,802.72 751,992.151.92US TREASURY NOTES
DTD 11/30/2016 1.750% 11/30/2021
912828U65 750,000.00
AA+ Aaa 7/6/2017 7/11/2017 1,543,370.51 4,880.60 1,544,880.60 1,554,173.441.90US TREASURY NOTES
DTD 01/31/2017 1.875% 01/31/2022
912828V72 1,545,000.00
AA+ Aaa 3/15/2017 3/17/2017 358,270.31 547.00 364,441.98 367,566.392.14US TREASURY NOTES
DTD 03/02/2015 1.750% 02/28/2022
912828J43 365,000.00
AA+ Aaa 9/4/2018 9/6/2018 2,023,508.79 107.40 2,076,451.68 2,103,569.432.75US TREASURY NOTES
DTD 03/31/2017 1.875% 03/31/2022
912828W89 2,085,000.00
AA+ Aaa 1/3/2018 1/4/2018 706,258.01 36.83 713,977.18 721,367.932.18US TREASURY NOTES
DTD 03/31/2017 1.875% 03/31/2022
912828W89 715,000.00
AA+ Aaa 8/1/2018 8/3/2018 1,798,968.75 95.81 1,851,731.54 1,876,565.532.82US TREASURY NOTES
DTD 03/31/2017 1.875% 03/31/2022
912828W89 1,860,000.00
AA+ Aaa 11/1/2017 11/3/2017 790,093.36 2,511.38 794,141.13 806,800.822.01US TREASURY NOTES
DTD 07/31/2017 1.875% 07/31/2022
9128282P4 795,000.00
AA+ Aaa 8/30/2017 9/1/2017 2,126,003.91 7,076.09 2,104,391.96 2,133,140.521.74US TREASURY NOTES
DTD 07/31/2015 2.000% 07/31/2022
912828XQ8 2,100,000.00
AA+ Aaa 6/4/2018 6/6/2018 1,189,382.81 59.61 1,228,316.64 1,260,343.692.76US TREASURY NOTES
DTD 09/30/2015 1.750% 09/30/2022
912828L57 1,240,000.00
AA+ Aaa 10/3/2017 10/6/2017 218,126.56 10.58 219,625.31 223,609.361.93US TREASURY NOTES
DTD 09/30/2015 1.750% 09/30/2022
912828L57 220,000.00
AA+ Aaa 5/2/2018 5/4/2018 579,984.38 5,021.74 595,182.10 612,281.282.80US TREASURY NOTES
DTD 10/31/2017 2.000% 10/31/2022
9128283C2 600,000.00
AA+ Aaa 1/6/2021 1/7/2021 3,498,906.25 1,830.84 3,499,347.38 3,501,093.750.14US TREASURY NOTES
DTD 10/31/2020 0.125% 10/31/2022
91282CAR2 3,500,000.00
AA+ Aaa 2/8/2019 2/12/2019 192,632.81 8.24 197,332.57 203,937.502.44US TREASURY NOTES
DTD 03/31/2016 1.500% 03/31/2023
912828Q29 200,000.00
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
U.S. Treasury Bond / Note
AA+ Aaa 2/8/2019 2/12/2019 170,992.97 379.08 176,308.78 183,290.622.44US TREASURY NOTES
DTD 08/01/2016 1.250% 07/31/2023
912828S92 180,000.00
AA+ Aaa 3/6/2019 3/8/2019 1,545,479.30 15,892.46 1,537,003.19 1,608,890.632.52US TREASURY NOTES
DTD 11/15/2013 2.750% 11/15/2023
912828WE6 1,530,000.00
AA+ Aaa 1/7/2019 1/9/2019 1,703,959.76 12,390.32 1,721,269.99 1,802,502.262.52US TREASURY NOTES
DTD 11/30/2016 2.125% 11/30/2023
912828U57 1,735,000.00
AA+ Aaa 7/16/2021 7/20/2021 1,194,656.25 442.62 1,195,100.55 1,194,375.000.31US TREASURY NOTES
DTD 12/15/2020 0.125% 12/15/2023
91282CBA8 1,200,000.00
AA+ Aaa 1/6/2021 1/7/2021 2,852,961.72 1,054.92 2,854,714.72 2,846,593.750.21US TREASURY NOTES
DTD 12/15/2020 0.125% 12/15/2023
91282CBA8 2,860,000.00
AA+ Aaa 1/30/2019 1/31/2019 75,222.66 497.54 75,101.84 78,820.312.56US TREASURY NOTES
DTD 12/31/2018 2.625% 12/31/2023
9128285U0 75,000.00
AA+ Aaa 2/3/2020 2/4/2020 1,106,292.19 4,464.67 1,087,069.97 1,112,668.751.37US TREASURY NOTES
DTD 01/31/2019 2.500% 01/31/2024
9128285Z9 1,060,000.00
AA+ Aaa 8/11/2021 8/12/2021 458,464.22 886.75 457,257.76 456,846.250.35US TREASURY NOTES
DTD 02/28/2019 2.375% 02/29/2024
9128286G0 436,000.00
AA+ Aaa 6/3/2019 6/5/2019 1,044,712.50 8,704.35 1,042,478.60 1,082,250.001.90US TREASURY NOTES
DTD 05/01/2017 2.000% 04/30/2024
912828X70 1,040,000.00
AA+ Aaa 7/1/2019 7/3/2019 495,053.13 2,476.63 492,778.67 510,595.291.78US TREASURY NOTES
DTD 06/30/2017 2.000% 06/30/2024
912828XX3 490,000.00
AA+ Aaa 8/14/2019 8/15/2019 606,939.45 2,112.30 599,666.33 617,287.501.52US TREASURY NOTES
DTD 07/31/2017 2.125% 07/31/2024
9128282N9 590,000.00
AA+ Aaa 8/1/2019 8/2/2019 375,174.22 1,324.66 372,931.59 387,112.501.83US TREASURY NOTES
DTD 07/31/2017 2.125% 07/31/2024
9128282N9 370,000.00
AA+ Aaa 10/1/2019 10/1/2019 200,446.29 11.38 198,265.98 204,292.961.54US TREASURY NOTES
DTD 10/02/2017 2.125% 09/30/2024
9128282Y5 195,000.00
AA+ Aaa 11/1/2019 11/5/2019 356,279.88 3,248.44 351,970.99 363,004.691.57US TREASURY NOTES
DTD 10/31/2017 2.250% 10/31/2024
9128283D0 345,000.00
AA+ Aaa 1/6/2021 1/7/2021 3,487,429.69 14,594.43 3,453,011.72 3,424,265.460.31US TREASURY NOTES
DTD 12/31/2019 1.750% 12/31/2024
912828YY0 3,300,000.00
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
U.S. Treasury Bond / Note
AA+ Aaa 4/12/2021 4/13/2021 756,065.04 1,200.51 757,098.79 756,632.810.67US TREASURY NOTES
DTD 04/30/2020 0.375% 04/30/2025
912828ZL7 765,000.00
AA+ Aaa 5/17/2021 5/17/2021 335,205.47 285.66 335,650.79 334,315.610.60US TREASURY NOTES
DTD 05/31/2020 0.250% 05/31/2025
912828ZT0 340,000.00
AA+ Aaa 8/2/2021 8/6/2021 2,620,394.53 567.33 2,621,510.21 2,596,171.880.53US TREASURY NOTES
DTD 08/31/2020 0.250% 08/31/2025
91282CAJ0 2,650,000.00
AA+ Aaa 9/7/2021 9/9/2021 1,297,828.13 9.07 1,298,157.27 1,291,950.000.67US TREASURY NOTES
DTD 09/30/2020 0.250% 09/30/2025
91282CAM3 1,320,000.00
AA+ Aaa 1/6/2021 1/7/2021 3,489,472.66 3,316.91 3,491,017.90 3,430,000.000.44US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 3,500,000.00
AA+ Aaa 4/5/2021 4/7/2021 322,175.39 312.74 322,976.41 323,400.000.89US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 330,000.00
AA+ Aaa 5/6/2021 5/7/2021 1,332,875.39 1,284.12 1,334,789.64 1,327,900.000.73US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 1,355,000.00
AA+ Aaa 1/7/2021 1/8/2021 458,221.09 435.94 458,481.37 450,800.000.45US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 460,000.00
AA+ Aaa 2/16/2021 2/17/2021 380,510.74 1,525.78 376,074.35 370,875.000.52US TREASURY NOTES
DTD 01/31/2019 2.625% 01/31/2026
9128286A3 345,000.00
AA+ Aaa 2/26/2021 2/26/2021 842,195.31 543.35 844,341.76 841,590.670.80US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 860,000.00
AA+ Aaa 7/2/2021 7/7/2021 269,714.84 173.74 269,987.17 269,113.290.80US TREASURY NOTES
DTD 01/31/2021 0.375% 01/31/2026
91282CBH3 275,000.00
AA+ Aaa 3/12/2021 3/12/2021 1,917,398.44 834.94 1,921,046.80 1,917,093.750.84US TREASURY NOTES
DTD 02/28/2021 0.500% 02/28/2026
91282CBQ3 1,950,000.00
AA+ Aaa 9/7/2021 9/9/2021 399,953.13 8.24 399,953.75 397,250.000.75US TREASURY N/B NOTES
DTD 03/31/2021 0.750% 03/31/2026
91282CBT7 400,000.00
AA+ Aaa 6/1/2021 6/1/2021 1,171,282.23 2,961.58 1,171,530.76 1,165,085.940.81US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 1,175,000.00
AA+ Aaa 6/2/2021 6/4/2021 1,456,806.25 3,679.92 1,457,014.84 1,447,681.250.79US TREASURY N/B NOTES
DTD 05/31/2021 0.750% 05/31/2026
91282CCF6 1,460,000.00
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
1.17 53,636,472.96 53,339,035.03 151,721.71 53,286,000.00 53,246,276.75Security Type Sub-Total
Municipal Bond / Note
NR NR 11/13/2020 11/24/2020 165,000.00 609.26 165,000.00 167,607.001.48CA ST EARTHQUAKE AUTH TXBL REV
BONDS
DTD 11/24/2020 1.477% 07/01/2023
13017HAK2 165,000.00
AAA Aaa 9/18/2019 10/16/2019 225,000.00 748.50 225,000.00 231,369.752.00SAN DIEGO CCD, CA TXBL GO BONDS
DTD 10/16/2019 1.996% 08/01/2023
797272QN4 225,000.00
AA- Aa2 10/16/2019 10/24/2019 805,807.90 9,480.00 798,024.87 823,819.901.87CA ST TXBL GO BONDS
DTD 10/24/2019 2.400% 10/01/2023
13063DRJ9 790,000.00
AAA Aaa 7/23/2020 8/5/2020 209,941.20 178.50 209,958.23 210,359.100.52MD ST TXBL GO BONDS
DTD 08/05/2020 0.510% 08/01/2024
574193TQ1 210,000.00
AA Aa2 7/10/2020 7/16/2020 170,000.00 567.09 170,000.00 171,326.000.88UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 170,000.00
AA Aa2 7/14/2020 7/16/2020 75,271.50 250.18 75,202.29 75,585.000.81UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7 75,000.00
AA+ Aaa 10/30/2020 11/10/2020 315,000.00 405.83 315,000.00 313,488.000.77LOS ANGELES CCD, CA TXBL GO
BONDS
DTD 11/10/2020 0.773% 08/01/2025
54438CYK2 315,000.00
A+ A2 1/22/2021 2/4/2021 215,000.00 562.76 215,000.00 213,643.351.05NJ TURNPIKE AUTHORITY TXBL REV
BONDS
DTD 02/04/2021 1.047% 01/01/2026
646140DP5 215,000.00
1.38 2,207,198.10 2,173,185.39 12,802.12 2,165,000.00 2,181,020.60Security Type Sub-Total
Federal Agency Bond / Note
AA+ Aaa 6/27/2017 6/29/2017 2,249,281.65 10,678.33 2,235,830.43 2,246,268.871.85FANNIE MAE NOTES
DTD 01/09/2017 2.000% 01/05/2022
3135G0S38 2,235,000.00
AA+ Aaa 1/9/2019 1/11/2019 554,600.40 3,237.50 554,962.81 558,939.952.65FANNIE MAE NOTES
DTD 01/11/2019 2.625% 01/11/2022
3135G0U92 555,000.00
AA+ Aaa 2/20/2020 2/21/2020 1,073,022.00 1,806.60 1,074,087.08 1,092,380.601.44FEDERAL HOME LOAN BANKS NOTES
DTD 02/21/2020 1.375% 02/17/2023
3130AJ7E3 1,075,000.00
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
Federal Agency Bond / Note
AA+ Aaa 4/17/2020 4/20/2020 1,167,075.00 1,962.19 1,168,488.08 1,172,823.210.46FREDDIE MAC NOTES
DTD 04/20/2020 0.375% 04/20/2023
3137EAEQ8 1,170,000.00
AA+ Aaa 5/20/2020 5/22/2020 1,241,252.55 1,115.31 1,242,953.45 1,245,423.300.35FANNIE MAE NOTES
DTD 05/22/2020 0.250% 05/22/2023
3135G04Q3 1,245,000.00
AA+ Aaa 6/24/2020 6/26/2020 1,121,715.00 742.19 1,123,101.00 1,125,209.250.35FREDDIE MAC NOTES
DTD 06/26/2020 0.250% 06/26/2023
3137EAES4 1,125,000.00
AA+ Aaa 7/8/2020 7/10/2020 1,192,430.75 672.19 1,193,481.91 1,195,119.500.32FANNIE MAE NOTES
DTD 07/10/2020 0.250% 07/10/2023
3135G05G4 1,195,000.00
AA+ Aaa 8/19/2020 8/21/2020 744,240.10 191.42 744,521.08 744,797.360.28FREDDIE MAC NOTES
DTD 08/21/2020 0.250% 08/24/2023
3137EAEV7 745,000.00
AA+ Aaa 11/29/2018 11/30/2018 1,562,573.90 2,382.26 1,566,977.70 1,648,923.902.98FANNIE MAE NOTES
DTD 09/14/2018 2.875% 09/12/2023
3135G0U43 1,570,000.00
AA+ Aaa 10/7/2020 10/9/2020 798,640.00 55.56 799,090.81 798,808.800.31FEDERAL FARM CREDIT BANK
(CALLABLE)
DTD 09/21/2020 0.250% 09/21/2023
3133EMAM4 800,000.00
AA+ Aaa 12/3/2020 12/3/2020 2,099,790.00 2,441.25 2,099,848.83 2,096,276.700.31FANNIE MAE NOTES (CALLABLE)
DTD 11/16/2020 0.310% 11/16/2023
3135G06F5 2,100,000.00
AA+ Aaa 12/2/2020 12/4/2020 684,321.85 556.56 684,508.26 683,600.550.28FREDDIE MAC NOTES
DTD 12/04/2020 0.250% 12/04/2023
3137EAFA2 685,000.00
AA+ Aaa 1/30/2019 1/31/2019 576,744.00 5,932.50 567,540.47 596,929.202.71FEDERAL HOME LOAN BANKS NOTES
DTD 12/09/2013 3.375% 12/08/2023
3130A0F70 560,000.00
AA+ Aaa 10/23/2020 10/27/2020 869,652.00 486.96 869,751.47 868,099.920.32FANNIE MAE NOTES (CALLABLE)
DTD 10/26/2020 0.310% 01/26/2024
3136G46V0 870,000.00
AA+ Aaa 2/14/2019 2/15/2019 119,575.20 400.00 119,798.55 125,975.162.58FHLB BONDS
DTD 02/15/2019 2.500% 02/13/2024
3130AFW94 120,000.00
AA+ Aaa 2/26/2020 2/28/2020 1,105,085.60 2,225.42 1,100,245.88 1,122,458.021.21FREDDIE MAC NOTES
DTD 02/14/2020 1.500% 02/12/2025
3137EAEP0 1,090,000.00
AA+ Aaa 4/15/2020 4/16/2020 801,007.20 1,867.15 802,173.96 800,383.330.60FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025
3130AJHU6 805,000.00
AA+ Aaa 4/22/2020 4/24/2020 997,940.00 2,760.42 998,532.93 998,618.000.67FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
3135G03U5 1,000,000.00
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
Federal Agency Bond / Note
AA+ Aaa 6/17/2020 6/19/2020 1,247,412.50 1,805.55 1,248,077.82 1,240,657.500.54FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 1,250,000.00
AA+ Aaa 6/22/2020 6/23/2020 349,916.00 505.56 349,937.46 347,384.100.50FANNIE MAE NOTES
DTD 06/19/2020 0.500% 06/17/2025
3135G04Z3 350,000.00
AA+ Aaa 7/21/2020 7/23/2020 751,240.10 550.52 752,136.79 743,437.930.48FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
3137EAEU9 755,000.00
AA+ Aaa 10/21/2020 10/22/2020 1,054,265.40 397.50 1,055,381.18 1,044,177.380.49FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 1,060,000.00
AA+ Aaa 8/25/2020 8/27/2020 796,256.00 300.00 797,077.05 788,058.400.47FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
3135G05X7 800,000.00
AA+ Aaa 2/11/2021 2/12/2021 896,787.00 75.00 897,227.74 885,952.800.45FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
3137EAEX3 900,000.00
AA+ Aaa 9/23/2020 9/25/2020 1,151,523.45 96.25 1,152,230.58 1,136,972.760.44FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
3137EAEX3 1,155,000.00
AA+ Aaa 11/9/2020 11/12/2020 752,297.10 1,510.00 752,776.53 743,946.050.57FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
3135G06G3 755,000.00
0.90 26,051,622.54 25,950,739.85 44,754.19 25,970,000.00 25,958,644.75Security Type Sub-Total
Corporate Note
A- A3 2/1/2017 2/3/2017 751,575.00 3,333.33 750,102.17 755,548.502.45IBM CORP BONDS
DTD 01/27/2017 2.500% 01/27/2022
459200JQ5 750,000.00
AA+ Aa1 1/7/2019 1/9/2019 1,034,418.00 3,791.67 1,048,188.78 1,056,567.753.01APPLE INC CORP NOTES
DTD 02/09/2017 2.500% 02/09/2022
037833CM0 1,050,000.00
BBB+ A2 4/3/2018 4/5/2018 508,599.00 4,112.50 520,892.52 537,457.203.07WALT DISNEY COMPANY/THE CORP
NOTES
DTD 11/30/2012 2.350% 12/01/2022
25468PCW4 525,000.00
A+ A1 7/18/2019 7/22/2019 648,806.40 3,840.00 643,240.81 659,146.882.29TOYOTA MOTOR CREDIT CORP
DTD 01/11/2018 2.700% 01/11/2023
89236TEL5 640,000.00
AA A1 5/21/2019 5/23/2019 767,079.50 2,015.00 772,059.42 796,530.282.69AMAZON.COM INC BONDS
DTD 06/06/2018 2.400% 02/22/2023
023135AW6 775,000.00
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
Corporate Note
A A2 4/3/2018 4/5/2018 760,275.00 10,462.50 770,579.27 798,492.583.11HOME DEPOT INC CORP NOTES
DTD 04/05/2013 2.700% 04/01/2023
437076AZ5 775,000.00
AA Aa2 5/21/2020 5/26/2020 1,452,505.20 16,617.50 1,415,270.76 1,420,282.200.70WAL MART STORES INC GLOBAL NT
(CALLABLE)
DTD 04/11/2013 2.550% 04/11/2023
931142DH3 1,380,000.00
A+ A2 4/2/2019 4/4/2019 1,113,453.00 1,442.22 1,106,560.04 1,160,371.302.68PFIZER INC CORP NOTES
DTD 03/11/2019 2.950% 03/15/2024
717081ES8 1,100,000.00
AA A1 5/10/2021 5/12/2021 294,569.30 512.56 294,625.10 294,411.180.50AMAZON.COM INC CORPORATE
NOTES
DTD 05/12/2021 0.450% 05/12/2024
023135BW5 295,000.00
AA Aa2 7/10/2019 7/12/2019 1,390,662.00 8,870.63 1,366,614.26 1,431,334.802.21WALMART INC CORPORATE NOTES
DTD 04/23/2019 2.850% 07/08/2024
931142EL3 1,350,000.00
A- A2 9/9/2020 9/16/2020 480,000.00 130.60 480,000.00 480,972.480.65JPMORGAN CHASE & CO
CORPORATE NOTES (CAL
DTD 09/16/2020 0.653% 09/16/2024
46647PBS4 480,000.00
A- A2 10/16/2020 10/21/2020 620,000.00 2,190.15 620,000.00 622,388.860.81BANK OF AMERICA CORP (CALLABLE)
CORPORAT
DTD 10/21/2020 0.810% 10/24/2024
06051GJH3 620,000.00
A+ A2 5/4/2020 5/6/2020 628,458.00 1,900.00 620,029.04 619,203.600.88ADOBE INC CORP NOTE
DTD 02/03/2020 1.900% 02/01/2025
00724PAB5 600,000.00
A+ A1 5/4/2020 5/6/2020 625,986.00 933.33 618,420.27 622,671.601.08MASTERCARD INC CORPORATE
NOTES
DTD 12/03/2019 2.000% 03/03/2025
57636QAN4 600,000.00
A+ A1 5/15/2020 5/19/2020 620,530.40 317.33 603,441.07 604,394.561.10INTEL CORP CORPORATE NOTES
DTD 03/25/2020 3.400% 03/25/2025
458140BP4 560,000.00
A- A2 8/3/2021 8/10/2021 640,000.00 696.32 640,000.00 637,666.560.77JPMORGAN CHASE & CO
CORPORATE NOTES
DTD 08/10/2021 0.768% 08/09/2025
46647PCM6 640,000.00
A+ A2 6/17/2021 6/21/2021 292,061.80 848.13 292,248.41 291,239.640.98BRISTOL-MYERS SQUIBB CO
CORPORATE NOTES
DTD 11/13/2020 0.750% 11/13/2025
110122DN5 295,000.00
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
1.85 12,788,679.97 12,562,271.92 62,013.77 12,435,000.00 12,628,978.60Security Type Sub-Total
Certificate of Deposit
A-1 P-1 8/5/2020 8/7/2020 630,000.00 3,822.00 630,000.00 630,791.280.52CREDIT SUISSE NEW YORK CERT
DEPOS
DTD 08/07/2020 0.520% 02/01/2022
22549L6F7 630,000.00
A-1 P-1 2/14/2020 2/19/2020 800,000.00 1,880.00 800,000.00 804,424.001.80SOCIETE GENERALE NY CERT
DEPOS
DTD 02/19/2020 1.800% 02/14/2022
83369XDL9 800,000.00
A-1 P-1 7/10/2020 7/14/2020 625,000.00 1,032.99 625,000.00 627,411.880.70SUMITOMO MITSUI BANK NY CERT
DEPOS
DTD 07/14/2020 0.700% 07/08/2022
86565CKU2 625,000.00
A-1 P-1 8/29/2019 9/3/2019 1,200,000.00 2,232.00 1,200,000.00 1,217,818.801.85SKANDINAV ENSKILDA BANK LT CD
DTD 09/03/2019 1.860% 08/26/2022
83050PDR7 1,200,000.00
A-1+ P-1 8/27/2019 8/29/2019 1,145,000.00 2,118.25 1,145,000.00 1,161,899.061.84NORDEA BANK ABP NEW YORK CERT
DEPOS
DTD 08/29/2019 1.850% 08/26/2022
65558TLL7 1,145,000.00
AA- Aa2 12/5/2019 12/6/2019 595,000.00 4,079.72 595,000.00 607,598.532.03DNB BANK ASA/NY LT CD
DTD 12/06/2019 2.040% 12/02/2022
23341VZT1 595,000.00
1.55 5,049,943.55 4,995,000.00 15,164.96 4,995,000.00 4,995,000.00Security Type Sub-Total
Asset-Backed Security
AAA NR 2/19/2019 2/27/2019 77,765.33 79.47 77,766.67 78,405.082.83HAROT 2019-1 A3
DTD 02/27/2019 2.830% 03/20/2023
43814WAC9 77,767.42
AAA NR 4/3/2019 4/10/2019 124,025.43 146.64 124,035.11 124,939.292.66HYUNDAI AUTO RECEIVABLES TRUST
DTD 04/10/2019 2.660% 06/15/2023
44932NAD2 124,041.76
NR Aaa 5/21/2019 5/29/2019 210,506.52 147.36 210,511.05 212,530.882.52HAROT 2019-2 A3
DTD 05/29/2019 2.520% 06/21/2023
43815MAC0 210,514.38
AAA Aaa 2/5/2019 2/13/2019 33,268.60 43.04 33,272.22 33,613.502.91TAOT 2019-A A3
DTD 02/13/2019 2.910% 07/15/2023
89239AAD5 33,274.67
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Holdings
Managed Account Detail of Securities Held
Original
Cost
Settle
Date
Trade
Date
Moody's
Rating
S&P
Rating
Accrued
Interest
Amortized
Cost
Market
Value
YTM
at Cost
Security Type/Description
CUSIP ParDated Date/Coupon/Maturity
Asset-Backed Security
AAA Aaa 8/6/2019 8/14/2019 256,576.29 217.81 256,577.39 258,509.851.91TAOT 2019-C A3
DTD 08/14/2019 1.910% 09/15/2023
89238UAD2 256,578.40
NR Aaa 2/5/2019 2/13/2019 11,912.39 15.41 11,913.22 12,010.562.91ALLYA 2019-1 A3
DTD 02/13/2019 2.910% 09/15/2023
02004WAC5 11,913.83
NR Aaa 2/5/2019 2/13/2019 209,095.36 269.54 209,113.21 211,084.882.90NAROT 2019-A A3
DTD 02/13/2019 2.900% 10/15/2023
65479KAD2 209,127.03
NR Aaa 5/21/2019 5/28/2019 240,565.82 267.36 240,594.39 242,976.232.51NAROT 2019-B A3
DTD 05/28/2019 2.500% 11/15/2023
65479HAC1 240,620.22
AAA Aaa 5/21/2019 5/30/2019 103,330.96 115.29 103,341.94 104,281.992.51COPAR 2019-1 A3
DTD 05/30/2019 2.510% 11/15/2023
14042WAC4 103,351.90
AAA NR 4/9/2019 4/17/2019 163,225.78 194.44 163,234.13 165,408.902.68CARMX 2019-2 A3
DTD 04/17/2019 2.680% 03/15/2024
14316LAC7 163,242.46
NR Aaa 2/19/2020 2/26/2020 424,916.70 190.07 424,948.71 429,425.571.61HAROT 2020-1 A3
DTD 02/26/2020 1.610% 04/22/2024
43813RAC1 425,000.00
AAA Aaa 2/4/2020 2/12/2020 584,957.76 431.60 584,973.99 590,636.011.66TAOT 2020-A A3
DTD 02/12/2020 1.660% 05/15/2024
89232HAC9 585,000.00
AAA NR 1/14/2020 1/22/2020 279,945.06 235.20 279,964.03 283,757.491.89CARMX 2020-1 A3
DTD 01/22/2020 1.890% 12/16/2024
14315XAC2 280,000.00
NR Aaa 2/17/2021 2/24/2021 274,994.97 20.63 274,995.70 274,644.480.27HAROT 2021-1 A3
DTD 02/24/2021 0.270% 04/21/2025
43813GAC5 275,000.00
AAA NR 1/20/2021 1/27/2021 164,967.40 24.93 164,971.92 164,630.860.34CARMX 2021-1 A3
DTD 01/27/2021 0.340% 12/15/2025
14316NAC3 165,000.00
AAA NR 4/13/2021 4/21/2021 329,928.89 76.27 329,935.46 330,526.090.52CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 330,000.00
1.75 3,517,381.66 3,490,149.14 2,475.06 3,490,432.07 3,489,983.26Security Type Sub-Total
102,499,903.96 102,341,432.07 288,931.81 102,510,381.33 103,251,298.78 1.23 Managed Account Sub Total
PFM Asset Management LLC
CITY OF SAN LUIS OBISPO OPERATING FUNDS
For the Quarter Ended September 30, 2021
Portfolio Holdings
$288,931.81 $102,510,381.33 $103,251,298.78 Securities Sub-Total
Accrued Interest $288,931.81
Total Investments $103,540,230.59
1.23%$102,341,432.07 $102,499,903.96
Bolded items are forward settling trades.
PFM Asset Management LLC