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Home My WebLink AboutFin City Quarterly Investment Report____________________________________________________________________________________ FOR CITY CLERK ONLY Council Meeting: April 17, 2023 Disposition: Accepted report Agenda Item No: 4.d Meeting Date: April 17, 2023 SAN RAFAEL CITY COUNCIL AGENDA REPORT Department: Finance Prepared by: Shawn Plate, Principal Accountant Claire Coleman, Sr. Mgmt. Analyst City Manager Approval: _________ TOPIC: CITY QUARTERLY INVESTMENT REPORT SUBJECT: ACCEPTANCE OF CITY OF SAN RAFAEL QUARTERLY INVESTMENT REPORT FOR THE QUARTER ENDING MARCH 31, 2023 RECOMMENDATION: Accept investment report for the quarter ending March 31, 2023, as presented. BACKGROUND: Pursuant to the State of California Government Code Section 53601 and the City’s investment policy, last approved by the City Council on June 21, 2022, staff provides the City Council with a quarterly report on the City's investment activities and liquidity. Included in the report are the cost of each investment, the interest rates (yield), maturity dates, and market value. Separate reports are prepared for the City and the Successor Agency to San Rafael Redevelopment Agency. The City invests a portion of its pooled funds in the Local Agency Investment Fund (LAIF), a State-run investment pool. Beginning in March 2014, the City incorporated an investment strategy that added purchases of securities outside of LAIF with the assistance of an investment advisor. ANALYSIS: Economic Outlook: Economic trends have been decelerating along with tighter financial conditions and restrictive monetary policy. Recent data suggests positive but below trend growth this year. Although the pace of job growth is moderating, labor markets remain solid, and the U.S. consumer has demonstrated resiliency. Market participants and the Federal Reserve are maintaining very divergent views regarding the future trajectory of monetary policy. Given the cumulative effects of tighter monetary policy and stress in the banking sector, the Federal Reserve is likely near a pause in their rate hiking campaign. If moderate growth continues, the Fed will likely maintain the Federal Funds rate in restrictive territory until inflationary pressures subside. At the March meeting, the Federal Open Market Committee voted unanimously to raise the target federal funds rate by 0.25% to a range of 4.75 – 5.00%. Fed Chair Powell reiterated the committee’s focus on bringing down inflation to their 2% target; however, the committee softened language about "ongoing increases" in rates in the prior statement to "some additional policy firming may be appropriate". The SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 2 statement also emphasized that the U.S. banking system is “sound and resilient” and acknowledged the tightening of financial conditions. The City’s investment advisor believes the FOMC is likely near a pause in their rate hiking cycle. Portfolio Activity: The City recently changed investment management providers and hired Chandler Asset Management, a registered investment advisor specializing in providing investment services to local governments in California. Since beginning in early 2023, Chandler has focused on increasing the City’s U.S. Treasury holdings to increase liquidity in the portfolio and introducing asset-backed securities to enhance diversification and return. Chandler has also focused on repositioning the portfolio duration closer to the City’s performance and risk measuring benchmark. All new purchases and existing holdings comply with California Government Code and the City’s investment policy. Staff will continue to work closely with the City’s new investment advisor, ensuring that funds continue to be invested prudently. As of March 31, 2023, the primary LAIF account had a balance of $ 36,644,876. Portfolio returns on LAIF deposits were 2.87% for the quarter ending March 31, 2023. The remaining investment assets include the $1,075,200 balance of Pt. San Pedro Assessment District bonds, and $44,363,095 in government agency securities and corporate bonds (including Apple Inc., American Honda Finance, Toyota, Caterpillar, John Deere, Citibank, PNC Financial Services, US Bancorp, and 3M Company). The overall total portfolio returns for the quarter ending March 31, 2023, were 2.46%. The City’s Westamerica general operating bank account had a balance of $20,026,510 at quarter end. Exhibit A is composed of three parts: (1) Quarterly Investment Portfolio Report; (2) Historical Activity by Quarter summarizing the City’s investments; and (3) the three monthly investment reports from Chandler Asset Management for the quarter. FISCAL IMPACT: No financial impact occurs by adopting the report. The City continues to meet the priority principles of investing - safety, liquidity, yield, and diversification. The portfolio remains conservatively invested and sufficient liquidity exists to meet daily operating and capital project requirements for the next six months. Operating funds, as defined for this report, exclude cash held with fiscal agents for the payment of bond principal and interest. RECOMMENDATION: Accept investment report for the quarter ending March 31, 2023, as presented. ATTACHMENTS: Exhibit A: 1. Quarterly Investment Portfolio Report 2. Historical Activity by Quarter Report 3. Chandler Asset Management Statements, January through March 2023 SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 3 I CERTIFY THAT ALL INVESTMENTS MADE ARE IN CONFORMANCE WITH THE CITY’S APPROVED INVESTMENT POLICY AND STATE INVESTMENT REGULATIONS. THE CITY HAS SUFFICIENT LIQUIDITY TO MEET ALL OF THE OBLIGATIONS REQUIRED DURING THE NEXT SIX-MONTH PERIOD. JIM SCHUTZ CITY MANAGER %Return LAIF 36,644,876$ 100.0% 2.87% Total Internally Managed 36,644,876$ 45.2% Weighted Average Yield 2.87% Days Effective Average Duration ‐ Internal 1 Weighted Average Maturity ‐ Internal 1 %Return Money Market Fund 2,967,302$ 6.7% 4.40% Treasury Securities 17,159,389$ 38.7% 1.64% Instrumentality Securities 10,748,119$ 24.2% 2.36% Corporate Notes 11,251,043$ 25.4% 1.46% Asset‐Backed 1,862,018$ 4.2% 5.02% Negotiable CD 375,224$ 0.8% 5.34% Total Externally Managed 44,363,095$ 54.8% Weighted Average Yield 2.13% Years Effective Average Duration ‐ External 1.46 Weighted Average Maturity ‐ External 1.30 Total Portfolio Assets %Return LAIF 36,644,876$ 45.2% 2.87% Money Market Fund 2,967,302$ 3.7% 4.40% Treasury Securities 17,159,389$ 21.2% 1.64% Instrumentality Securities 10,748,119$ 13.3% 2.36% Corporate Notes 11,251,043$ 13.9% 1.46% Asset‐Backed 1,862,018$ 2.3% 5.02% Negotiable CD 375,224$ 0.5% 5.34% Total Portfolio Assets 81,007,971$ 100.0% Weighted Average Yield 2.46% Years Effective Average Duration ‐ Total 0.80 Weighted Average Maturity ‐ Total 0.71 Based on Market Values March 31, 2023 City of Rafael Quarterly Investment Portfolio Report Externally Managed Assets Internally Managed Assets LAIF, 100.0% Money Market Fund, 6.7% Treasury Securities, 38.7% Instrumentality Securities, 24.2% Corporate Notes, 25.4% Asset‐Backed, 4.2% LAIF 45% Money Market Fund 4% Treasury Securities 21% Instrumentality Securities 13% Corporate Notes 14% Asset‐Backed 2%Negotiable CD 1% Exhibit AInternally Managed Assets% Return % Return % Return % Return % Return % ReturnLAIF 36,644,876$ 100.0% 2.87% 27,557,309$ 99.4% 2.17% 33,407,538$ 99.5% 1.51% 49,325,065$ 99.7% 0.86% 37,295,675$ 99.6% 0.37% 37,272,941$ 99.6% 0.21%LAIF ‐ Housing‐$ 0.0% 0.00% 156,195$ 0.6% 2.17% 155,665$ 0.5% 1.51% 155,374$ 0.3% 0.86% 155,252$ 0.4% 0.37% 155,163$ 0.4% 0.21%Total Internally Managed 36,644,876$ 44.6%27,713,504$ 38.2%33,563,203$ 43.0%49,480,439$ 52.5%37,450,927$ 45.4%37,428,104$ 45.0%Weighted Average Yield 2.87% 2.17% 1.51% 0.86% 0.37% 0.21%Externally Managed Assets% Return % Return % Return % Return % Return % ReturnMoney Market Fund 2,967,302$ 6.5% 4.40% 2,947,890$ 6.6% 3.00% 94,380$ 0.2% 1.00% 155,858$ 0.3% 0.02% 34,607$ 0.1% 0.02% 160,462$ 0.4% 0.02%Treasury Securities 17,159,389$ 37.8% 1.64% 18,206,234$ 40.6% 1.17% 19,352,963$ 43.5% 1.20% 19,307,642$ 43.0% 0.70% 19,322,375$ 42.9% 0.54% 17,936,293$ 39.2% 0.51%Instrumentality Securities 10,748,119$ 23.7% 2.36% 9,984,055$ 22.3% 1.27% 10,891,851$ 24.5% 0.95% 11,004,000$ 24.5% 0.96% 11,081,069$ 24.6% 0.95% 12,774,395$ 27.9% 1.09%Corporate Notes 11,251,043$ 24.8% 1.46% 12,590,810$ 28.1% 0.92% 13,054,253$ 29.4% 0.90% 13,224,805$ 29.5% 0.90% 13,449,548$ 29.9% 0.69% 13,782,838$ 30.1% 0.65%Asset Backed 1,862,018$ 4.1% 5.02%‐$ 0.0% 0.00%‐$ 0.0% 0.00%‐$ 0.0% 0.00%‐$ 0.0% 0.00%‐$ 0.0% 0.00%Negotiable CD 375,224$ 0.8% 5.34%‐$ 0.0% 0.00%‐$ 0.0% 0.00%‐$ 0.0% 0.00%‐$ 0.0% 0.00%‐$ 0.0% 0.00%Municipal/Assessment District 1,075,200$ 2.4% 5.25% 1,075,200$ 2.4% 5.25% 1,075,200$ 2.4% 5.25% 1,159,300$ 2.6% 5.25% 1,159,300$ 2.6% 5.25% 1,159,300$ 2.5% 5.25%Total Externally Managed 45,438,295$ 55.4%44,804,189$ 61.8%44,468,648$ 57.0%44,851,605$ 47.5%45,046,900$ 54.6%45,813,288$ 55.0%Weighted Average Yield 2.16% 1.34% 1.15% 0.94% 0.81% 0.83%Years Years Years Years Years YearsEffective Average Duration ‐ External 1.56 1.12 1.56 1.45 1.56 1.68Weighted Average Maturity ‐ External 1.72 1.35 1.72 1.60 1.72 1.87Total Portfolio Assets% Return % Return % Return % Return % Return % ReturnLAIF 36,644,876$ 44.6% 2.87% 27,713,504$ 38.2% 2.17% 33,563,203$ 43.0% 1.51% 49,480,439$ 52.5% 0.86% 37,450,927$ 45.4% 0.37% 37,428,104$ 45.0% 0.21%Cash 2,967,302$ 3.6% 4.40% 2,947,890$ 4.1% 3.00% 94,380$ 0.1% 1.00% 155,858$ 0.2% 0.02% 34,607$ 0.0% 0.02% 160,462$ 0.2% 0.02%Treasury Securities 17,159,389$ 20.9% 1.64% 18,206,234$ 25.1% 1.17% 19,352,963$ 24.8% 1.20% 19,307,642$ 20.5% 0.70% 19,322,375$ 23.4% 0.54% 17,936,293$ 21.5% 0.51%Instrumentality Securities 10,748,119$ 13.1% 2.36% 9,984,055$ 13.8% 1.27% 10,891,851$ 14.0% 0.95% 11,004,000$ 11.7% 0.96% 11,081,069$ 13.4% 0.95% 12,774,395$ 15.3% 1.09%Corporate Notes 11,251,043$ 13.7% 1.46% 12,590,810$ 17.4% 0.92% 13,054,253$ 16.7% 0.90% 13,224,805$ 14.0% 0.90% 13,449,548$ 16.3% 0.69% 13,782,838$ 16.6% 0.65%Asset Backed 1,862,018$ 2.3% 5.02%‐$ 0.0% 0.00%‐$ 0.0% 0.00%‐$ 0.0% 0.00%‐$ 0.0% 0.00%‐$ 0.0% 0.00%Negotiable CD 375,224$ 0.5% 5.34%‐$ 0.0% 0.00%‐$ 0.0% 0.00%‐$ 0.0% 0.00%‐$ 0.0% 0.00%‐$ 0.0% 0.00%Municipal/Assessment District 1,075,200$ 1.3% 5.25% 1,075,200$ 1.5% 5.25% 1,075,200$ 1.4% 5.25% 1,159,300$ 1.2% 5.25% 1,159,300$ 1.4% 5.25% 1,159,300$ 1.4% 5.25% Total Portfolio Assets 82,083,171$ 72,517,693$ 78,031,850$ 94,332,045$ 82,497,826$ 83,241,391$ Weighted Average Yield 2.47% 1.66% 1.30% 0.90% 0.61% 0.55%Years Years Years Years Years YearsEffective Average Duration ‐ Total 0.80 0.69 0.79 0.69 0.85 0.93Weighted Average Maturity ‐ Total 0.71 0.84 0.87 0.76 0.94 1.03Performance Recap‐The weighted average quarterly portfolio yield increased from 1.66% to 2.47% during the past quarter. Yields are rising as the Federal Reserve increases interest rates to combat inflation.‐The effective average duration increased, from 0..69 to 0.80 years since last quarter, this is a result of the rebalancing of the externally managed portfolio after engaging a new asset manager.‐The total portfolio assets increased by approximately $9.5 million during the quarter. This is reflective of transfers of December property tax receipts to LAIF for investment.September 30, 2022March 31, 2023City of San RafaelHistorical Activity‐By QuarterJune 30, 2022 March 31, 2022 December 31, 2021December 31, 2022W:\Accounting and Budgeting\Finance\Bank Reconciliations\Statements\22‐23\09 ‐ March 23\Chandler‐Quarterly Report combined 03‐31‐23 MONTHLY ACCOUNT STATEMENT City of San Rafael - Account #11045 JANUARY 1, 2023 THROUGH JANUARY 31, 2023 Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures. CHANDLER ASSET MANAGEMENT chandlerasset.com Chandler Team: For questions about your account, please call (800) 317-4747, or contact operations@chandlerasset.com Custodian US Bank Alexander Bazan (503) 402-5305 ACCOUNT SUMMARY Beg. Values as of 12/31/22 End Values as of 1/31/23 Market Value 43,962,169 Accrued Interest 0 207,512 Total Market Value 44,169,681 Income Earned 182,536 Cont/WD -250 Par 45,230,711 Book Value 45,624,364 Cost Value 45,674,635 TOP ISSUERS Government of United States 39.3% First American Treasury MMF Cla 9.1% Federal Home Loan Bank 7.9% Federal National Mortgage Assoc 7.8% Federal Farm Credit Bank 4.3% Federal Home Loan Mortgage Corp 2.8% Toyota Motor Corp 2.6% JP Morgan Chase & Co 2.4% Total 76.2% PORTFOLIO CHARACTERISTICS Average Modified Duration 1.02 Average Coupon 1.83% Average Purchase YTM -0.17% Average Market YTM 4.55% Average S&P/Moody Rating AA/Aa1 Average Final Maturity 1.08 yrs Average Life 1.06 yrs CREDIT QUALITY (S&P)MATURITY DISTRIBUTIONSECTOR ALLOCATION Portfolio Summary As of January 31, 2023 City of San Rafael Account #11045 PERFORMANCE REVIEW Annualized TOTAL RATE OF RETURN 1M 3M YTD 1YR 2YRS 3YRS 5YRS 10YRS 1/1/1900 City of San Rafael N/A N/A N/A N/A N/A N/A N/A N/A N/A ICE BofA 1-3 Yr US Treasury & Agency Index 0.69%1.53%0.69%-2.35%-1.79%-0.36%0.97%0.74%N/A Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 1 Holdings Report As of January 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration AGENCY 3130AJ7E3 FHLB Note 1.375% Due 2/17/2023 1,200,000.00 01/12/2023 -0.08% 1,201,698.09 1,200,754.71 99.84 4.94% 1,198,086.00 7,516.67 2.73% (2,668.71) Aaa / AA+ NR 0.05 0.04 3137EAEQ8 FHLMC Note 0.375% Due 4/20/2023 1,250,000.00 01/12/2023 0.90% 1,248,223.75 1,248,586.25 99.04 4.79% 1,238,010.00 1,315.10 2.81% (10,576.25) Aaa / AA+ AAA 0.22 0.22 3135G0U43 FNMA Note 2.875% Due 9/12/2023 1,000,000.00 01/12/2023 -4.08% 1,047,553.22 1,043,639.37 98.79 4.89% 987,909.00 11,100.69 2.26% (55,730.37) Aaa / AA+ AAA 0.61 0.59 3135G0V34 FNMA Note 2.5% Due 2/5/2024 600,000.00 01/12/2023 -0.81% 621,262.80 620,169.60 97.72 4.83% 586,342.20 7,333.33 1.34% (33,827.40) Aaa / AA+ AAA 1.01 0.97 3133EMWV0 FFCB Note 0.35% Due 4/22/2024 1,000,000.00 01/12/2023 0.35% 1,000,000.00 1,000,000.00 95.14 4.47% 951,448.00 962.50 2.16% (48,552.00) Aaa / AA+ AAA 1.22 1.20 3130AMQQ8 FHLB Callable Note Qtrly 12/23/2021 0.35% Due 4/23/2024 1,000,000.00 01/12/2023 0.35% 1,000,000.00 1,000,000.00 94.80 4.75% 948,027.00 369.44 2.15% (51,973.00) Aaa / AA+ NR 1.23 1.20 3136G46B4 FNMA Callable Note Qtrly 01/26/2024 0.35% Due 4/26/2024 1,200,000.00 01/12/2023 0.37% 1,199,700.00 1,199,712.77 94.77 4.75% 1,137,272.40 1,108.33 2.58% (62,440.37) Aaa / AA+ AAA 1.24 1.20 3133EMYR7 FFCB Callable Note Cont 5/6/2022 0.375% Due 5/6/2024 1,000,000.00 01/12/2023 0.38% 1,000,000.00 1,000,000.00 94.67 4.77% 946,743.00 885.42 2.15% (53,257.00) Aaa / AA+ AAA 1.26 1.23 3135G0V75 FNMA Note 1.75% Due 7/2/2024 750,000.00 01/12/2023 1.44% 753,426.75 753,299.12 96.27 4.49% 722,028.00 1,057.29 1.64% (31,271.12) Aaa / AA+ AAA 1.42 1.38 3130ATHT7 FHLB Note 4.375% Due 9/12/2025 1,300,000.00 01/12/2023 4.28% 1,303,159.00 1,303,094.13 100.80 4.05% 1,310,457.20 19,432.29 3.01% 7,363.07 Aaa / AA+ NR 2.62 2.41 Total Agency 10,300,000.00 0.43% 10,375,023.61 10,369,255.95 4.66% 10,026,322.80 51,081.06 22.82% (342,933.15) Aaa / AA+ AAA 1.09 1.04 CORPORATE 931142DH3 Wal-Mart Stores Callable Note Cont 1/11/2023 2.55% Due 4/11/2023 500,000.00 01/12/2023 -4.74% 509,155.00 507,097.70 99.62 4.51% 498,078.50 3,895.83 1.14% (9,019.20) Aa2 / AA AA 0.19 0.19 037833AK6 Apple Inc Note 2.4% Due 5/3/2023 500,000.00 01/12/2023 -2.03% 506,880.00 505,640.36 99.44 4.60% 497,190.50 2,933.33 1.13% (8,449.86) Aaa / AA+ NR 0.25 0.25 02665WDH1 American Honda Finance Note 1.95% Due 5/10/2023 1,000,000.00 01/12/2023 -7.41% 1,031,510.00 1,026,169.32 99.14 5.08% 991,444.00 4,387.50 2.25% (34,725.32) A3 / A- A 0.27 0.27 742718EB1 Procter & Gamble Co Note 3.1% Due 8/15/2023 500,000.00 01/12/2023 -3.66% 520,430.00 518,529.53 99.51 4.02% 497,555.50 7,147.22 1.14% (20,974.03) Aa3 / AA- NR 0.54 0.52 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 2 Holdings Report As of January 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration CORPORATE 89236THA6 Toyota Motor Credit Corp Note 1.35% Due 8/25/2023 700,000.00 01/12/2023 -2.06% 714,959.00 713,629.31 98.04 4.90% 686,273.70 4,095.00 1.56% (27,355.61) A1 / A+ A+ 0.56 0.55 14912L5X5 Caterpillar Finance Serv Corp Note 3.75% Due 11/24/2023 1,000,000.00 01/12/2023 -5.82% 1,086,390.00 1,080,922.28 99.11 4.87% 991,094.00 6,979.17 2.26% (89,828.28) A2 / A A 0.81 0.79 89236THU2 Toyota Motor Credit Corp Note 0.45% Due 1/11/2024 480,000.00 01/12/2023 0.59% 479,342.40 479,378.53 95.99 4.84% 460,756.80 120.00 1.04% (18,621.73) A1 / A+ A+ 0.95 0.92 24422EVN6 John Deere Capital Corp Note 0.45% Due 1/17/2024 1,000,000.00 01/12/2023 0.33% 1,001,230.00 1,001,163.51 95.92 4.85% 959,150.00 175.00 2.17% (42,013.51) A2 / A A 0.96 0.94 17325FAS7 Citibank Callable Note Cont 12/23/2023 3.65% Due 1/23/2024 500,000.00 01/12/2023 -4.14% 541,470.00 539,264.15 98.94 4.77% 494,712.00 405.56 1.12% (44,552.15) Aa3 / A+ A+ 0.98 0.95 693475AV7 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 1/23/2024 900,000.00 01/12/2023 -2.62% 957,939.00 954,857.14 98.59 4.99% 887,311.80 700.00 2.01% (67,545.34) A3 / A- A 0.98 0.95 91159HHV5 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 2/5/2024 1,000,000.00 01/12/2023 -3.84% 1,079,130.00 1,075,061.62 98.52 4.89% 985,230.00 16,500.00 2.27% (89,831.62) A2 / A+ A+ 1.01 0.96 459200HU8 IBM Corp Note 3.625% Due 2/12/2024 1,000,000.00 01/12/2023 -4.13% 1,086,900.00 1,082,511.11 98.66 4.97% 986,624.00 17,017.36 2.27% (95,887.11) A3 / A- NR 1.03 0.98 88579YBB6 3M Co. Callable Note Cont 1/14/2024 3.25% Due 2/14/2024 500,000.00 01/12/2023 -4.19% 541,935.00 539,827.71 98.33 4.92% 491,639.50 7,538.19 1.13% (48,188.21) A1 / A+ NR 1.04 0.99 713448CM8 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 3/1/2024 500,000.00 01/12/2023 -2.84% 537,465.00 535,655.10 99.11 4.45% 495,545.00 7,500.00 1.14% (40,110.10) A1 / A+ NR 1.08 1.03 06051GHF9 Bank of America Corp Callable Note 1X 3/5/2023 3.55% Due 3/5/2024 500,000.00 01/12/2023 -0.65% 535,525.00 533,825.24 99.84 5.03% 499,224.00 7,198.61 1.15% (34,601.24) A2 / A- AA- 1.09 0.09 46647PAP1 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 500,000.00 01/12/2023 -0.71% 534,240.00 532,773.62 99.63 4.93% 498,152.00 4,844.19 1.14% (34,621.62) A1 / A- AA- 1.23 1.11 717081DM2 Pfizer Inc. Note 3.4% Due 5/15/2024 500,000.00 01/12/2023 -2.03% 537,160.00 535,640.16 98.56 4.56% 492,787.50 3,588.89 1.12% (42,852.66) A1 / A+ A 1.29 1.24 166764BW9 Chevron Corp Callable Note Cont 4/11/2025 1.554% Due 5/11/2025 700,000.00 01/12/2023 3.66% 667,380.00 668,147.53 94.12 4.29% 658,872.90 2,417.33 1.50% (9,274.63) Aa2 / AA- NR 2.28 2.19 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 3 Holdings Report As of January 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration CORPORATE 46647PBH8 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 3/13/2026 600,000.00 01/12/2023 4.49% 577,518.00 577,906.96 94.07 4.98% 564,430.80 4,611.50 1.29% (13,476.16) A1 / A- AA- 3.12 2.02 Total Corporate 12,880,000.00 -2.53% 13,446,558.40 13,408,000.88 4.80% 12,636,072.50 102,054.68 28.84% (771,928.38) A1 / A A+ 1.01 0.89 MONEY MARKET FUND 31846V807 First American Treasury MMF Class Y 4,000,710.52 Various 3.93% 4,000,710.52 4,000,710.52 1.00 3.93% 4,000,710.52 0.00 9.06% 0.00 Aaa / AA+ AAA 0.00 0.00 Total Money Market Fund 4,000,710.52 3.93% 4,000,710.52 4,000,710.52 3.93% 4,000,710.52 0.00 9.06% 0.00 Aaa / AA+ AAA 0.00 0.00 US TREASURY 912828Z86 US Treasury Note 1.375% Due 2/15/2023 1,250,000.00 01/12/2023 -10.50% 1,263,920.20 1,255,731.85 99.88 4.34% 1,248,478.75 7,939.88 2.84% (7,253.10) Aaa / AA+ AAA 0.04 0.04 912828ZD5 US Treasury Note 0.5% Due 3/15/2023 1,000,000.00 01/12/2023 0.31% 1,000,315.85 1,000,213.96 99.53 4.51% 995,254.00 1,919.89 2.26% (4,959.96) Aaa / AA+ AAA 0.12 0.12 91282CCK5 US Treasury Note 0.125% Due 6/30/2023 800,000.00 01/12/2023 2.06% 792,846.43 793,693.01 98.13 4.74% 785,000.00 88.40 1.78% (8,693.01) Aaa / AA+ AAA 0.41 0.41 91282CCN9 US Treasury Note 0.125% Due 7/31/2023 1,000,000.00 01/12/2023 1.99% 989,808.04 990,827.24 97.73 4.76% 977,344.00 3.45 2.21% (13,483.24) Aaa / AA+ AAA 0.50 0.49 9128282D1 US Treasury Note 1.375% Due 8/31/2023 1,250,000.00 01/12/2023 -0.65% 1,265,970.98 1,264,588.21 98.09 4.76% 1,226,172.50 7,311.81 2.79% (38,415.71) Aaa / AA+ AAA 0.58 0.56 91282CAW1 US Treasury Note 0.25% Due 11/15/2023 1,000,000.00 01/12/2023 0.24% 1,000,120.54 1,000,112.69 96.49 4.85% 964,883.00 538.67 2.19% (35,229.69) Aaa / AA+ AAA 0.79 0.77 912828U57 US Treasury Note 2.125% Due 11/30/2023 650,000.00 01/12/2023 0.11% 661,529.52 660,813.40 97.84 4.81% 635,958.70 2,390.63 1.45% (24,854.70) Aaa / AA+ AAA 0.83 0.81 91282CBA8 US Treasury Note 0.125% Due 12/15/2023 1,200,000.00 01/12/2023 0.62% 1,194,566.52 1,194,888.98 96.07 4.78% 1,152,890.40 197.80 2.61% (41,998.58) Aaa / AA+ AAA 0.87 0.85 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 4 Holdings Report As of January 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration US TREASURY 91282CBV2 US Treasury Note 0.375% Due 4/15/2024 1,000,000.00 01/12/2023 0.28% 1,001,175.22 1,001,124.01 95.04 4.66% 950,430.00 1,122.94 2.15% (50,694.01) Aaa / AA+ AAA 1.21 1.17 91282CCC3 US Treasury Note 0.25% Due 5/15/2024 1,000,000.00 01/12/2023 0.48% 996,878.35 997,006.02 94.57 4.64% 945,742.00 538.67 2.14% (51,264.02) Aaa / AA+ AAA 1.29 1.26 912828D56 US Treasury Note 2.375% Due 8/15/2024 1,000,000.00 01/12/2023 -0.01% 1,038,011.16 1,036,702.69 96.90 4.48% 968,984.00 10,971.47 2.22% (67,718.69) Aaa / AA+ AAA 1.54 1.47 9128282Y5 US Treasury Note 2.125% Due 9/30/2024 1,000,000.00 01/12/2023 -0.87% 1,051,800.23 1,050,147.91 96.42 4.38% 964,219.00 7,239.01 2.20% (85,928.91) Aaa / AA+ AAA 1.67 1.60 912828YM6 US Treasury Note 1.5% Due 10/31/2024 1,000,000.00 01/12/2023 0.66% 1,014,925.23 1,014,471.58 95.26 4.35% 952,578.00 3,853.59 2.17% (61,893.58) Aaa / AA+ AAA 1.75 1.69 912828YV6 US Treasury Note 1.5% Due 11/30/2024 700,000.00 01/12/2023 -0.23% 722,889.06 722,223.68 95.14 4.29% 665,984.20 1,817.31 1.51% (56,239.48) Aaa / AA+ AAA 1.83 1.77 91282CAJ0 US Treasury Note 0.25% Due 8/31/2025 1,200,000.00 01/12/2023 3.74% 1,095,937.50 1,098,100.96 90.96 3.97% 1,091,530.80 1,276.24 2.47% (6,570.16) Aaa / AA+ AAA 2.58 2.52 91282CAM3 US Treasury Note 0.25% Due 9/30/2025 500,000.00 01/12/2023 3.65% 456,445.31 457,323.43 90.86 3.90% 454,297.00 425.82 1.03% (3,026.43) Aaa / AA+ AAA 2.67 2.60 9128285N6 US Treasury Note 2.875% Due 11/30/2025 500,000.00 01/12/2023 3.15% 496,212.61 496,284.55 97.23 3.92% 486,172.00 2,487.98 1.11% (10,112.55) Aaa / AA+ AAA 2.83 2.67 91282CBQ3 US Treasury Note 0.5% Due 2/28/2026 500,000.00 01/12/2023 3.50% 455,839.84 456,612.55 90.36 3.85% 451,777.50 1,063.54 1.03% (4,835.05) Aaa / AA+ AAA 3.08 2.99 91282CBW0 US Treasury Note 0.75% Due 4/30/2026 500,000.00 01/12/2023 4.47% 443,595.43 444,532.38 90.70 3.82% 453,496.00 963.40 1.03% 8,963.62 Aaa / AA+ AAA 3.25 3.14 9128286X3 US Treasury Note 2.125% Due 5/31/2026 500,000.00 01/12/2023 4.31% 465,958.71 466,509.99 94.82 3.79% 474,121.00 1,838.94 1.08% 7,611.01 Aaa / AA+ AAA 3.33 3.16 91282CCJ8 US Treasury Note 0.875% Due 6/30/2026 500,000.00 01/12/2023 4.42% 443,595.43 444,487.20 90.75 3.79% 453,750.00 386.74 1.03% 9,262.80 Aaa / AA+ AAA 3.41 3.30 Total US Treasury 18,050,000.00 0.35% 17,852,342.16 17,846,396.29 4.44% 17,299,062.85 54,376.18 39.29% (547,333.44) Aaa / AA+ AAA 1.37 1.33 TOTAL PORTFOLIO 45,230,710.52 -0.17% 45,674,634.69 45,624,363.64 4.55% 43,962,168.67 207,511.92 100.00% (1,662,194.97) Aa1 / AA AAA 1.08 1.02 TOTAL MARKET VALUE PLUS ACCRUED 44,169,680.59 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 5 Transaction Ledger As of January 31, 2023 City of San Rafael Account #11045 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 01/15/2023 31846V807 7,500.00 First American Treasury MMF Class Y 1.000 3.88%7,500.00 0.00 7,500.00 0.00 Purchase 01/15/2023 31846V807 1,000,000.00 First American Treasury MMF Class Y 1.000 3.88%1,000,000.00 0.00 1,000,000.00 0.00 Purchase 01/17/2023 31846V807 2,250.00 First American Treasury MMF Class Y 1.000 3.88%2,250.00 0.00 2,250.00 0.00 Purchase 01/23/2023 31846V807 24,875.00 First American Treasury MMF Class Y 1.000 3.88%24,875.00 0.00 24,875.00 0.00 Purchase 01/31/2023 31846V807 625.00 First American Treasury MMF Class Y 1.000 3.93%625.00 0.00 625.00 0.00 Subtotal 1,035,250.00 1,035,250.00 0.00 1,035,250.00 0.00 Security Contribution 01/12/2023 02665WDH1 1,000,000.00 American Honda Finance Note 1.95% Due 5/10/2023 103.151 1,031,510.00 0.00 1,031,510.00 0.00 Security Contribution 01/12/2023 037833AK6 500,000.00 Apple Inc Note 2.4% Due 5/3/2023 101.376 506,880.00 0.00 506,880.00 0.00 Security Contribution 01/12/2023 06051GHF9 500,000.00 Bank of America Corp Callable Note 1X 3/5/2023 3.55% Due 3/5/2024 107.105 535,525.00 0.00 535,525.00 0.00 Security Contribution 01/12/2023 14912L5X5 1,000,000.00 Caterpillar Finance Serv Corp Note 3.75% Due 11/24/2023 108.639 1,086,390.00 0.00 1,086,390.00 0.00 Security Contribution 01/12/2023 166764BW9 700,000.00 Chevron Corp Callable Note Cont 4/11/2025 1.554% Due 5/11/2025 95.340 667,380.00 0.00 667,380.00 0.00 Security Contribution 01/12/2023 17325FAS7 500,000.00 Citibank Callable Note Cont 12/23/2023 3.65% Due 1/23/2024 108.294 541,470.00 0.00 541,470.00 0.00 Security Contribution 01/12/2023 24422EVN6 1,000,000.00 John Deere Capital Corp Note 0.45% Due 1/17/2024 100.123 1,001,230.00 0.00 1,001,230.00 0.00 Security Contribution 01/12/2023 3130AJ7E3 1,200,000.00 FHLB Note 1.375% Due 2/17/2023 100.142 1,201,698.09 0.00 1,201,698.09 0.00 Security Contribution 01/12/2023 3130AMQQ8 1,000,000.00 FHLB Callable Note Qtrly 12/23/2021 0.35% Due 4/23/2024 100.000 1,000,000.00 0.00 1,000,000.00 0.00 Security Contribution 01/12/2023 3130ATHT7 1,300,000.00 FHLB Note 4.375% Due 9/12/2025 100.243 1,303,159.00 0.00 1,303,159.00 0.00 Security Contribution 01/12/2023 3133EMWV0 1,000,000.00 FFCB Note 0.35% Due 4/22/2024 100.000 1,000,000.00 0.00 1,000,000.00 0.00 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 6 Transaction Ledger As of January 31, 2023 City of San Rafael Account #11045 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Security Contribution 01/12/2023 3133EMYR7 1,000,000.00 FFCB Callable Note Cont 5/6/2022 0.375% Due 5/6/2024 100.000 1,000,000.00 0.00 1,000,000.00 0.00 Security Contribution 01/12/2023 3135G0U43 1,000,000.00 FNMA Note 2.875% Due 9/12/2023 104.755 1,047,553.22 0.00 1,047,553.22 0.00 Security Contribution 01/12/2023 3135G0V34 600,000.00 FNMA Note 2.5% Due 2/5/2024 103.544 621,262.80 0.00 621,262.80 0.00 Security Contribution 01/12/2023 3135G0V75 750,000.00 FNMA Note 1.75% Due 7/2/2024 100.457 753,426.75 0.00 753,426.75 0.00 Security Contribution 01/12/2023 3136G46B4 1,200,000.00 FNMA Callable Note Qtrly 01/26/2024 0.35% Due 4/26/2024 99.975 1,199,700.00 0.00 1,199,700.00 0.00 Security Contribution 01/12/2023 3137EAEQ8 1,250,000.00 FHLMC Note 0.375% Due 4/20/2023 99.858 1,248,223.75 0.00 1,248,223.75 0.00 Security Contribution 01/12/2023 31846V807 2,965,710.52 First American Treasury MMF Class Y 1.000 2,965,710.52 0.00 2,965,710.52 0.00 Security Contribution 01/12/2023 459200HU8 1,000,000.00 IBM Corp Note 3.625% Due 2/12/2024 108.690 1,086,900.00 0.00 1,086,900.00 0.00 Security Contribution 01/12/2023 46647PAP1 500,000.00 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 106.848 534,240.00 0.00 534,240.00 0.00 Security Contribution 01/12/2023 46647PBH8 600,000.00 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 3/13/2026 96.253 577,518.00 0.00 577,518.00 0.00 Security Contribution 01/12/2023 693475AV7 900,000.00 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 1/23/2024 106.438 956,367.00 0.00 956,367.00 0.00 Security Contribution 01/12/2023 713448CM8 500,000.00 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 3/1/2024 107.493 537,465.00 0.00 537,465.00 0.00 Security Contribution 01/12/2023 717081DM2 500,000.00 Pfizer Inc. Note 3.4% Due 5/15/2024 107.432 537,160.00 0.00 537,160.00 0.00 Security Contribution 01/12/2023 742718EB1 500,000.00 Procter & Gamble Co Note 3.1% Due 8/15/2023 104.086 520,430.00 0.00 520,430.00 0.00 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 7 Transaction Ledger As of January 31, 2023 City of San Rafael Account #11045 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Security Contribution 01/12/2023 88579YBB6 500,000.00 3M Co. Callable Note Cont 1/14/2024 3.25% Due 2/14/2024 108.387 541,935.00 0.00 541,935.00 0.00 Security Contribution 01/12/2023 89236THA6 700,000.00 Toyota Motor Credit Corp Note 1.35% Due 8/25/2023 102.137 714,959.00 0.00 714,959.00 0.00 Security Contribution 01/12/2023 89236THU2 480,000.00 Toyota Motor Credit Corp Note 0.45% Due 1/11/2024 99.863 479,342.40 0.00 479,342.40 0.00 Security Contribution 01/12/2023 91159HHV5 1,000,000.00 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 2/5/2024 107.913 1,079,130.00 0.00 1,079,130.00 0.00 Security Contribution 01/12/2023 9128282D1 1,250,000.00 US Treasury Note 1.375% Due 8/31/2023 101.278 1,265,970.98 0.00 1,265,970.98 0.00 Security Contribution 01/12/2023 9128282Y5 1,000,000.00 US Treasury Note 2.125% Due 9/30/2024 105.180 1,051,800.23 0.00 1,051,800.23 0.00 Security Contribution 01/12/2023 9128285N6 500,000.00 US Treasury Note 2.875% Due 11/30/2025 99.243 496,212.61 0.00 496,212.61 0.00 Security Contribution 01/12/2023 9128286X3 500,000.00 US Treasury Note 2.125% Due 5/31/2026 93.192 465,958.71 0.00 465,958.71 0.00 Security Contribution 01/12/2023 912828D56 1,000,000.00 US Treasury Note 2.375% Due 8/15/2024 103.801 1,038,011.16 0.00 1,038,011.16 0.00 Security Contribution 01/12/2023 912828U57 650,000.00 US Treasury Note 2.125% Due 11/30/2023 101.774 661,529.52 0.00 661,529.52 0.00 Security Contribution 01/12/2023 912828YM6 1,000,000.00 US Treasury Note 1.5% Due 10/31/2024 101.493 1,014,925.23 0.00 1,014,925.23 0.00 Security Contribution 01/12/2023 912828YV6 700,000.00 US Treasury Note 1.5% Due 11/30/2024 103.270 722,889.06 0.00 722,889.06 0.00 Security Contribution 01/12/2023 912828Z29 1,000,000.00 US Treasury Note 1.5% Due 1/15/2023 101.153 1,011,526.79 0.00 1,011,526.79 0.00 Security Contribution 01/12/2023 912828Z86 1,250,000.00 US Treasury Note 1.375% Due 2/15/2023 101.114 1,263,920.20 0.00 1,263,920.20 0.00 Security Contribution 01/12/2023 912828ZD5 1,000,000.00 US Treasury Note 0.5% Due 3/15/2023 100.032 1,000,315.85 0.00 1,000,315.85 0.00 Security Contribution 01/12/2023 91282CAJ0 1,200,000.00 US Treasury Note 0.25% Due 8/31/2025 91.328 1,095,937.50 0.00 1,095,937.50 0.00 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 8 Transaction Ledger As of January 31, 2023 City of San Rafael Account #11045 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Security Contribution 01/12/2023 91282CAM3 500,000.00 US Treasury Note 0.25% Due 9/30/2025 91.289 456,445.31 0.00 456,445.31 0.00 Security Contribution 01/12/2023 91282CAW1 1,000,000.00 US Treasury Note 0.25% Due 11/15/2023 100.012 1,000,120.54 0.00 1,000,120.54 0.00 Security Contribution 01/12/2023 91282CBA8 1,200,000.00 US Treasury Note 0.125% Due 12/15/2023 99.547 1,194,566.52 0.00 1,194,566.52 0.00 Security Contribution 01/12/2023 91282CBQ3 500,000.00 US Treasury Note 0.5% Due 2/28/2026 91.168 455,839.84 0.00 455,839.84 0.00 Security Contribution 01/12/2023 91282CBV2 1,000,000.00 US Treasury Note 0.375% Due 4/15/2024 100.118 1,001,175.22 0.00 1,001,175.22 0.00 Security Contribution 01/12/2023 91282CBW0 500,000.00 US Treasury Note 0.75% Due 4/30/2026 88.719 443,595.43 0.00 443,595.43 0.00 Security Contribution 01/12/2023 91282CCC3 1,000,000.00 US Treasury Note 0.25% Due 5/15/2024 99.688 996,878.35 0.00 996,878.35 0.00 Security Contribution 01/12/2023 91282CCJ8 500,000.00 US Treasury Note 0.875% Due 6/30/2026 88.719 443,595.43 0.00 443,595.43 0.00 Security Contribution 01/12/2023 91282CCK5 800,000.00 US Treasury Note 0.125% Due 6/30/2023 99.106 792,846.43 0.00 792,846.43 0.00 Security Contribution 01/12/2023 91282CCN9 1,000,000.00 US Treasury Note 0.125% Due 7/31/2023 98.981 989,808.04 0.00 989,808.04 0.00 Security Contribution 01/12/2023 931142DH3 500,000.00 Wal-Mart Stores Callable Note Cont 1/11/2023 2.55% Due 4/11/2023 101.831 509,155.00 0.00 509,155.00 0.00 Subtotal 45,195,710.52 45,649,589.48 0.00 45,649,589.48 0.00 TOTAL ACQUISITIONS 46,230,960.52 46,684,839.48 0.00 46,684,839.48 0.00 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 9 Transaction Ledger As of January 31, 2023 City of San Rafael Account #11045 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss DISPOSITIONS Maturity 01/15/2023 912828Z29 1,000,000.00 US Treasury Note 1.5% Due 1/15/2023 100.000 1,000,000.00 0.00 1,000,000.00 0.00 Subtotal 1,000,000.00 1,000,000.00 0.00 1,000,000.00 0.00 Security Withdrawal 01/25/2023 31846V807 250.00 First American Treasury MMF Class Y 1.000 250.00 0.00 250.00 0.00 Subtotal 250.00 250.00 0.00 250.00 0.00 TOTAL DISPOSITIONS 1,000,250.00 1,000,250.00 0.00 1,000,250.00 0.00 OTHER TRANSACTIONS Interest 01/15/2023 912828Z29 1,000,000.00 US Treasury Note 1.5% Due 1/15/2023 0.000 7,500.00 0.00 7,500.00 0.00 Interest 01/17/2023 24422EVN6 1,000,000.00 John Deere Capital Corp Note 0.45% Due 1/17/2024 0.000 2,250.00 0.00 2,250.00 0.00 Interest 01/23/2023 17325FAS7 500,000.00 Citibank Callable Note Cont 12/23/2023 3.65% Due 1/23/2024 0.000 9,125.00 0.00 9,125.00 0.00 Interest 01/23/2023 693475AV7 900,000.00 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 1/23/2024 0.000 15,750.00 0.00 15,750.00 0.00 Interest 01/31/2023 91282CCN9 1,000,000.00 US Treasury Note 0.125% Due 7/31/2023 0.000 625.00 0.00 625.00 0.00 Subtotal 4,400,000.00 35,250.00 0.00 35,250.00 0.00 TOTAL OTHER TRANSACTIONS 4,400,000.00 35,250.00 0.00 35,250.00 0.00 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 10 Income Earned As of January 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income FIXED INCOME 02665WDH1 American Honda Finance Note 1.95% Due 05/10/2023 01/12/2023 01/12/2023 1,000,000.00 0.00 1,031,510.00 0.00 1,026,169.32 0.00 0.00 4,387.50 4,387.50 0.00 5,340.68 (5,340.68) (953.18) (953.18) 037833AK6 Apple Inc Note 2.4% Due 05/03/2023 01/12/2023 01/12/2023 500,000.00 0.00 506,880.00 0.00 505,640.36 0.00 0.00 2,933.33 2,933.33 0.00 1,239.64 (1,239.64) 1,693.69 1,693.69 06051GHF9 Bank of America Corp Callable Note 1X 3/5/2023 3.55% Due 03/05/2024 01/12/2023 01/12/2023 500,000.00 0.00 535,525.00 0.00 533,825.24 0.00 0.00 7,198.61 7,198.61 0.00 1,699.76 (1,699.76) 5,498.85 5,498.85 14912L5X5 Caterpillar Finance Serv Corp Note 3.75% Due 11/24/2023 01/12/2023 01/12/2023 1,000,000.00 0.00 1,086,390.00 0.00 1,080,922.28 0.00 0.00 6,979.17 6,979.17 0.00 5,467.72 (5,467.72) 1,511.45 1,511.45 166764BW9 Chevron Corp Callable Note Cont 4/11/2025 1.554% Due 05/11/2025 01/12/2023 01/12/2023 700,000.00 0.00 667,380.00 0.00 668,147.53 0.00 0.00 2,417.33 2,417.33 767.53 0.00 767.53 3,184.86 3,184.86 17325FAS7 Citibank Callable Note Cont 12/23/2023 3.65% Due 01/23/2024 01/12/2023 01/12/2023 500,000.00 0.00 541,470.00 0.00 539,264.15 0.00 9,125.00 405.56 9,530.56 0.00 2,205.85 (2,205.85) 7,324.71 7,324.71 24422EVN6 John Deere Capital Corp Note 0.45% Due 01/17/2024 01/12/2023 01/12/2023 1,000,000.00 0.00 1,001,230.00 0.00 1,001,163.51 0.00 2,250.00 175.00 2,425.00 0.00 66.49 (66.49) 2,358.51 2,358.51 3130AJ7E3 FHLB Note 1.375% Due 02/17/2023 01/12/2023 01/12/2023 1,200,000.00 0.00 1,201,698.09 0.00 1,200,754.71 0.00 0.00 7,516.67 7,516.67 0.00 943.38 (943.38) 6,573.29 6,573.29 3130AMQQ8 FHLB Callable Note Qtrly 12/23/2021 0.35% Due 04/23/2024 01/12/2023 01/12/2023 1,000,000.00 0.00 1,000,000.00 0.00 1,000,000.00 0.00 0.00 369.44 369.44 0.00 0.00 0.00 369.44 369.44 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 11 Income Earned As of January 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 3130ATHT7 FHLB Note 4.375% Due 09/12/2025 01/12/2023 01/12/2023 1,300,000.00 0.00 1,303,159.00 0.00 1,303,094.13 0.00 0.00 19,432.29 19,432.29 0.00 64.87 (64.87) 19,367.42 19,367.42 3133EMWV0 FFCB Note 0.35% Due 04/22/2024 01/12/2023 01/12/2023 1,000,000.00 0.00 1,000,000.00 0.00 1,000,000.00 0.00 0.00 962.50 962.50 0.00 0.00 0.00 962.50 962.50 3133EMYR7 FFCB Callable Note Cont 5/6/2022 0.375% Due 05/06/2024 01/12/2023 01/12/2023 1,000,000.00 0.00 1,000,000.00 0.00 1,000,000.00 0.00 0.00 885.42 885.42 0.00 0.00 0.00 885.42 885.42 3135G0U43 FNMA Note 2.875% Due 09/12/2023 01/12/2023 01/12/2023 1,000,000.00 0.00 1,047,553.22 0.00 1,043,639.37 0.00 0.00 11,100.69 11,100.69 0.00 3,913.85 (3,913.85) 7,186.84 7,186.84 3135G0V34 FNMA Note 2.5% Due 02/05/2024 01/12/2023 01/12/2023 600,000.00 0.00 621,262.80 0.00 620,169.60 0.00 0.00 7,333.33 7,333.33 0.00 1,093.20 (1,093.20) 6,240.13 6,240.13 3135G0V75 FNMA Note 1.75% Due 07/02/2024 01/12/2023 01/12/2023 750,000.00 0.00 753,426.75 0.00 753,299.12 0.00 0.00 1,057.29 1,057.29 0.00 127.63 (127.63) 929.66 929.66 3136G46B4 FNMA Callable Note Qtrly 01/26/2024 0.35% Due 04/26/2024 01/12/2023 01/12/2023 1,200,000.00 0.00 1,199,700.00 0.00 1,199,712.77 0.00 0.00 1,108.33 1,108.33 12.77 0.00 12.77 1,121.10 1,121.10 3137EAEQ8 FHLMC Note 0.375% Due 04/20/2023 01/12/2023 01/12/2023 1,250,000.00 0.00 1,248,223.75 0.00 1,248,586.25 0.00 0.00 1,315.10 1,315.10 362.50 0.00 362.50 1,677.60 1,677.60 459200HU8 IBM Corp Note 3.625% Due 02/12/2024 01/12/2023 01/12/2023 1,000,000.00 0.00 1,086,900.00 0.00 1,082,511.11 0.00 0.00 17,017.36 17,017.36 0.00 4,388.89 (4,388.89) 12,628.47 12,628.47 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 12 Income Earned As of January 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 46647PAP1 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 04/23/2024 01/12/2023 01/12/2023 500,000.00 0.00 534,240.00 0.00 532,773.62 0.00 0.00 4,844.19 4,844.19 0.00 1,466.38 (1,466.38) 3,377.81 3,377.81 46647PBH8 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 03/13/2026 01/12/2023 01/12/2023 600,000.00 0.00 577,518.00 0.00 577,906.96 0.00 0.00 4,611.50 4,611.50 388.96 0.00 388.96 5,000.46 5,000.46 693475AV7 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 01/23/2024 01/12/2023 01/12/2023 900,000.00 0.00 956,367.00 0.00 954,857.14 0.00 15,750.00 700.00 16,450.00 0.00 1,509.86 (1,509.86) 14,940.14 14,940.14 713448CM8 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 03/01/2024 01/12/2023 01/12/2023 500,000.00 0.00 537,465.00 0.00 535,655.10 0.00 0.00 7,500.00 7,500.00 0.00 1,809.90 (1,809.90) 5,690.10 5,690.10 717081DM2 Pfizer Inc. Note 3.4% Due 05/15/2024 01/12/2023 01/12/2023 500,000.00 0.00 537,160.00 0.00 535,640.16 0.00 0.00 3,588.89 3,588.89 0.00 1,519.84 (1,519.84) 2,069.05 2,069.05 742718EB1 Procter & Gamble Co Note 3.1% Due 08/15/2023 01/12/2023 01/12/2023 500,000.00 0.00 520,430.00 0.00 518,529.53 0.00 0.00 7,147.22 7,147.22 0.00 1,900.47 (1,900.47) 5,246.75 5,246.75 88579YBB6 3M Co. Callable Note Cont 1/14/2024 3.25% Due 02/14/2024 01/12/2023 01/12/2023 500,000.00 0.00 541,935.00 0.00 539,827.71 0.00 0.00 7,538.19 7,538.19 0.00 2,107.29 (2,107.29) 5,430.90 5,430.90 89236THA6 Toyota Motor Credit Corp Note 1.35% Due 08/25/2023 01/12/2023 01/12/2023 700,000.00 0.00 714,959.00 0.00 713,629.31 0.00 0.00 4,095.00 4,095.00 0.00 1,329.69 (1,329.69) 2,765.31 2,765.31 89236THU2 Toyota Motor Credit Corp Note 0.45% Due 01/11/2024 01/12/2023 01/12/2023 480,000.00 0.00 479,342.40 0.00 479,378.53 0.00 0.00 120.00 120.00 36.13 0.00 36.13 156.13 156.13 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 13 Income Earned As of January 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 91159HHV5 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 02/05/2024 01/12/2023 01/12/2023 1,000,000.00 0.00 1,079,130.00 0.00 1,075,061.62 0.00 0.00 16,500.00 16,500.00 0.00 4,068.38 (4,068.38) 12,431.62 12,431.62 9128282D1 US Treasury Note 1.375% Due 08/31/2023 01/12/2023 01/12/2023 1,250,000.00 0.00 1,265,970.98 0.00 1,264,588.21 0.00 0.00 7,311.81 7,311.81 0.00 1,382.77 (1,382.77) 5,929.04 5,929.04 9128282Y5 US Treasury Note 2.125% Due 09/30/2024 01/12/2023 01/12/2023 1,000,000.00 0.00 1,051,800.23 0.00 1,050,147.91 0.00 0.00 7,239.01 7,239.01 0.00 1,652.32 (1,652.32) 5,586.69 5,586.69 9128285N6 US Treasury Note 2.875% Due 11/30/2025 01/12/2023 01/12/2023 500,000.00 0.00 496,212.61 0.00 496,284.55 0.00 0.00 2,487.98 2,487.98 71.94 0.00 71.94 2,559.92 2,559.92 9128286X3 US Treasury Note 2.125% Due 05/31/2026 01/12/2023 01/12/2023 500,000.00 0.00 465,958.71 0.00 466,509.99 0.00 0.00 1,838.94 1,838.94 551.28 0.00 551.28 2,390.22 2,390.22 912828D56 US Treasury Note 2.375% Due 08/15/2024 01/12/2023 01/12/2023 1,000,000.00 0.00 1,038,011.16 0.00 1,036,702.69 0.00 0.00 10,971.47 10,971.47 0.00 1,308.47 (1,308.47) 9,663.00 9,663.00 912828U57 US Treasury Note 2.125% Due 11/30/2023 01/12/2023 01/12/2023 650,000.00 0.00 661,529.52 0.00 660,813.40 0.00 0.00 2,390.63 2,390.63 0.00 716.12 (716.12) 1,674.51 1,674.51 912828YM6 US Treasury Note 1.5% Due 10/31/2024 01/12/2023 01/12/2023 1,000,000.00 0.00 1,014,925.23 0.00 1,014,471.58 0.00 0.00 3,853.59 3,853.59 0.00 453.65 (453.65) 3,399.94 3,399.94 912828YV6 US Treasury Note 1.5% Due 11/30/2024 01/12/2023 01/12/2023 700,000.00 0.00 722,889.06 0.00 722,223.68 0.00 0.00 1,817.31 1,817.31 0.00 665.38 (665.38) 1,151.93 1,151.93 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 14 Income Earned As of January 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 912828Z29 US Treasury Note Due 01/15/2023 01/12/2023 01/12/2023 0.00 0.00 1,011,526.79 1,000,000.00 0.00 0.00 7,500.00 0.00 7,500.00 0.00 11,526.79 (11,526.79) (4,026.79) (4,026.79) 912828Z86 US Treasury Note 1.375% Due 02/15/2023 01/12/2023 01/12/2023 1,250,000.00 0.00 1,263,920.20 0.00 1,255,731.85 0.00 0.00 7,939.88 7,939.88 0.00 8,188.35 (8,188.35) (248.47) (248.47) 912828ZD5 US Treasury Note 0.5% Due 03/15/2023 01/12/2023 01/12/2023 1,000,000.00 0.00 1,000,315.85 0.00 1,000,213.96 0.00 0.00 1,919.89 1,919.89 0.00 101.89 (101.89) 1,818.00 1,818.00 91282CAJ0 US Treasury Note 0.25% Due 08/31/2025 01/12/2023 01/12/2023 1,200,000.00 0.00 1,095,937.50 0.00 1,098,100.96 0.00 0.00 1,276.24 1,276.24 2,163.46 0.00 2,163.46 3,439.70 3,439.70 91282CAM3 US Treasury Note 0.25% Due 09/30/2025 01/12/2023 01/12/2023 500,000.00 0.00 456,445.31 0.00 457,323.43 0.00 0.00 425.82 425.82 878.12 0.00 878.12 1,303.94 1,303.94 91282CAW1 US Treasury Note 0.25% Due 11/15/2023 01/12/2023 01/12/2023 1,000,000.00 0.00 1,000,120.54 0.00 1,000,112.69 0.00 0.00 538.67 538.67 0.00 7.85 (7.85) 530.82 530.82 91282CBA8 US Treasury Note 0.125% Due 12/15/2023 01/12/2023 01/12/2023 1,200,000.00 0.00 1,194,566.52 0.00 1,194,888.98 0.00 0.00 197.80 197.80 322.46 0.00 322.46 520.26 520.26 91282CBQ3 US Treasury Note 0.5% Due 02/28/2026 01/12/2023 01/12/2023 500,000.00 0.00 455,839.84 0.00 456,612.55 0.00 0.00 1,063.54 1,063.54 772.71 0.00 772.71 1,836.25 1,836.25 91282CBV2 US Treasury Note 0.375% Due 04/15/2024 01/12/2023 01/12/2023 1,000,000.00 0.00 1,001,175.22 0.00 1,001,124.01 0.00 0.00 1,122.94 1,122.94 0.00 51.21 (51.21) 1,071.73 1,071.73 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 15 Income Earned As of January 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 91282CBW0 US Treasury Note 0.75% Due 04/30/2026 01/12/2023 01/12/2023 500,000.00 0.00 443,595.43 0.00 444,532.38 0.00 0.00 963.40 963.40 936.95 0.00 936.95 1,900.35 1,900.35 91282CCC3 US Treasury Note 0.25% Due 05/15/2024 01/12/2023 01/12/2023 1,000,000.00 0.00 996,878.35 0.00 997,006.02 0.00 0.00 538.67 538.67 127.67 0.00 127.67 666.34 666.34 91282CCJ8 US Treasury Note 0.875% Due 06/30/2026 01/12/2023 01/12/2023 500,000.00 0.00 443,595.43 0.00 444,487.20 0.00 0.00 386.74 386.74 891.77 0.00 891.77 1,278.51 1,278.51 91282CCK5 US Treasury Note 0.125% Due 06/30/2023 01/12/2023 01/12/2023 800,000.00 0.00 792,846.43 0.00 793,693.01 0.00 0.00 88.40 88.40 846.58 0.00 846.58 934.98 934.98 91282CCN9 US Treasury Note 0.125% Due 07/31/2023 01/12/2023 01/12/2023 1,000,000.00 0.00 989,808.04 0.00 990,827.24 0.00 625.00 3.45 628.45 1,019.20 0.00 1,019.20 1,647.65 1,647.65 931142DH3 Wal-Mart Stores Callable Note Cont 1/11/2023 2.55% Due 04/11/2023 01/12/2023 01/12/2023 500,000.00 0.00 509,155.00 0.00 507,097.70 0.00 0.00 3,895.83 3,895.83 0.00 2,057.30 (2,057.30) 1,838.53 1,838.53 Total Fixed Income 41,230,000.00 0.00 42,683,878.96 1,000,000.00 41,623,653.12 0.00 35,250.00 207,511.92 242,761.92 10,150.03 70,375.87 (60,225.84) 182,536.08 182,536.08 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 16 Income Earned As of January 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income CASH & EQUIVALENT 31846V807 First American Treasury MMF Class Y Various Various 4,000,710.52 0.00 4,000,960.52 250.00 4,000,710.52 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Cash & Equivalent 4,000,710.52 0.00 4,000,960.52 250.00 4,000,710.52 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL PORTFOLIO 45,230,710.52 0.00 46,684,839.48 1,000,250.00 45,624,363.64 0.00 35,250.00 207,511.92 242,761.92 10,150.03 70,375.87 (60,225.84) 182,536.08 182,536.08 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 17 Cash Flow Report As of January 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/05/2023 Interest 91159HHV5 1,000,000.00 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 2/5/2024 0.00 16,875.00 16,875.00 02/05/2023 Interest 3135G0V34 600,000.00 FNMA Note 2.5% Due 2/5/2024 0.00 7,500.00 7,500.00 02/12/2023 Interest 459200HU8 1,000,000.00 IBM Corp Note 3.625% Due 2/12/2024 0.00 18,125.00 18,125.00 02/14/2023 Interest 88579YBB6 500,000.00 3M Co. Callable Note Cont 1/14/2024 3.25% Due 2/14/2024 0.00 8,125.00 8,125.00 02/15/2023 Interest 912828D56 1,000,000.00 US Treasury Note 2.375% Due 8/15/2024 0.00 11,875.00 11,875.00 02/15/2023 Interest 742718EB1 500,000.00 Procter & Gamble Co Note 3.1% Due 8/15/2023 0.00 7,750.00 7,750.00 02/15/2023 Maturity 912828Z86 1,250,000.00 US Treasury Note 1.375% Due 2/15/2023 1,250,000.00 8,593.75 1,258,593.75 02/17/2023 Maturity 3130AJ7E3 1,200,000.00 FHLB Note 1.375% Due 2/17/2023 1,200,000.00 8,250.00 1,208,250.00 02/25/2023 Interest 89236THA6 700,000.00 Toyota Motor Credit Corp Note 1.35% Due 8/25/2023 0.00 4,725.00 4,725.00 02/28/2023 Interest 9128282D1 1,250,000.00 US Treasury Note 1.375% Due 8/31/2023 0.00 8,593.75 8,593.75 02/28/2023 Interest 91282CAJ0 1,200,000.00 US Treasury Note 0.25% Due 8/31/2025 0.00 1,500.00 1,500.00 02/28/2023 Interest 91282CBQ3 500,000.00 US Treasury Note 0.5% Due 2/28/2026 0.00 1,250.00 1,250.00 FEB 2023 2,450,000.00 103,162.50 2,553,162.50 03/01/2023 Interest 713448CM8 500,000.00 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 3/1/2024 0.00 9,000.00 9,000.00 03/05/2023 Interest 06051GHF9 500,000.00 Bank of America Corp Callable Note 1X 3/5/2023 3.55% Due 3/5/2024 0.00 8,875.00 8,875.00 03/12/2023 Interest 3130ATHT7 1,300,000.00 FHLB Note 4.375% Due 9/12/2025 0.00 25,909.72 25,909.72 03/12/2023 Interest 3135G0U43 1,000,000.00 FNMA Note 2.875% Due 9/12/2023 0.00 14,375.00 14,375.00 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 18 Cash Flow Report As of January 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/13/2023 Interest 46647PBH8 600,000.00 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 3/13/2026 0.00 6,015.00 6,015.00 03/15/2023 Maturity 912828ZD5 1,000,000.00 US Treasury Note 0.5% Due 3/15/2023 1,000,000.00 2,500.00 1,002,500.00 03/31/2023 Interest 9128282Y5 1,000,000.00 US Treasury Note 2.125% Due 9/30/2024 0.00 10,625.00 10,625.00 03/31/2023 Interest 91282CAM3 500,000.00 US Treasury Note 0.25% Due 9/30/2025 0.00 625.00 625.00 MAR 2023 1,000,000.00 77,924.72 1,077,924.72 04/11/2023 Maturity 931142DH3 500,000.00 Wal-Mart Stores Callable Note Cont 1/11/2023 2.55% Due 4/11/2023 500,000.00 6,375.00 506,375.00 04/15/2023 Interest 91282CBV2 1,000,000.00 US Treasury Note 0.375% Due 4/15/2024 0.00 1,875.00 1,875.00 04/20/2023 Maturity 3137EAEQ8 1,250,000.00 FHLMC Note 0.375% Due 4/20/2023 1,250,000.00 2,343.75 1,252,343.75 04/22/2023 Interest 3133EMWV0 1,000,000.00 FFCB Note 0.35% Due 4/22/2024 0.00 1,750.00 1,750.00 04/23/2023 Interest 46647PAP1 500,000.00 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 0.00 8,897.50 8,897.50 04/26/2023 Interest 3136G46B4 1,200,000.00 FNMA Callable Note Qtrly 01/26/2024 0.35% Due 4/26/2024 0.00 2,100.00 2,100.00 04/30/2023 Interest 912828YM6 1,000,000.00 US Treasury Note 1.5% Due 10/31/2024 0.00 7,500.00 7,500.00 04/30/2023 Interest 91282CBW0 500,000.00 US Treasury Note 0.75% Due 4/30/2026 0.00 1,875.00 1,875.00 APR 2023 1,750,000.00 32,716.25 1,782,716.25 05/03/2023 Maturity 037833AK6 500,000.00 Apple Inc Note 2.4% Due 5/3/2023 500,000.00 6,000.00 506,000.00 05/06/2023 Interest 3133EMYR7 1,000,000.00 FFCB Callable Note Cont 5/6/2022 0.375% Due 5/6/2024 0.00 1,875.00 1,875.00 05/10/2023 Maturity 02665WDH1 1,000,000.00 American Honda Finance Note 1.95% Due 5/10/2023 1,000,000.00 9,750.00 1,009,750.00 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 19 Cash Flow Report As of January 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/11/2023 Interest 166764BW9 700,000.00 Chevron Corp Callable Note Cont 4/11/2025 1.554% Due 5/11/2025 0.00 5,439.00 5,439.00 05/15/2023 Interest 91282CCC3 1,000,000.00 US Treasury Note 0.25% Due 5/15/2024 0.00 1,250.00 1,250.00 05/15/2023 Interest 717081DM2 500,000.00 Pfizer Inc. Note 3.4% Due 5/15/2024 0.00 8,500.00 8,500.00 05/15/2023 Interest 91282CAW1 1,000,000.00 US Treasury Note 0.25% Due 11/15/2023 0.00 1,250.00 1,250.00 05/24/2023 Interest 14912L5X5 1,000,000.00 Caterpillar Finance Serv Corp Note 3.75% Due 11/24/2023 0.00 18,750.00 18,750.00 05/31/2023 Interest 9128286X3 500,000.00 US Treasury Note 2.125% Due 5/31/2026 0.00 5,312.50 5,312.50 05/31/2023 Interest 912828U57 650,000.00 US Treasury Note 2.125% Due 11/30/2023 0.00 6,906.25 6,906.25 05/31/2023 Interest 9128285N6 500,000.00 US Treasury Note 2.875% Due 11/30/2025 0.00 7,187.50 7,187.50 05/31/2023 Interest 912828YV6 700,000.00 US Treasury Note 1.5% Due 11/30/2024 0.00 5,250.00 5,250.00 MAY 2023 1,500,000.00 77,470.25 1,577,470.25 06/05/2023 Interest 06051GHF9 500,000.00 Bank of America Corp Callable Note 1X 3/5/2023 3.55% Due 3/5/2024 0.00 7,280.75 7,280.75 06/15/2023 Interest 91282CBA8 1,200,000.00 US Treasury Note 0.125% Due 12/15/2023 0.00 750.00 750.00 06/23/2023 Interest 3130AMQQ8 1,000,000.00 FHLB Callable Note Qtrly 12/23/2021 0.35% Due 4/23/2024 0.00 1,750.00 1,750.00 06/30/2023 Interest 91282CCJ8 500,000.00 US Treasury Note 0.875% Due 6/30/2026 0.00 2,187.50 2,187.50 06/30/2023 Maturity 91282CCK5 800,000.00 US Treasury Note 0.125% Due 6/30/2023 800,000.00 500.00 800,500.00 JUN 2023 800,000.00 12,468.25 812,468.25 07/02/2023 Interest 3135G0V75 750,000.00 FNMA Note 1.75% Due 7/2/2024 0.00 6,562.50 6,562.50 07/11/2023 Interest 89236THU2 480,000.00 Toyota Motor Credit Corp Note 0.45% Due 1/11/2024 0.00 1,080.00 1,080.00 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 20 Cash Flow Report As of January 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/17/2023 Interest 24422EVN6 1,000,000.00 John Deere Capital Corp Note 0.45% Due 1/17/2024 0.00 2,250.00 2,250.00 07/23/2023 Interest 17325FAS7 500,000.00 Citibank Callable Note Cont 12/23/2023 3.65% Due 1/23/2024 0.00 9,125.00 9,125.00 07/23/2023 Interest 46647PAP1 500,000.00 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 0.00 6,093.04 6,093.04 07/23/2023 Interest 693475AV7 900,000.00 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 1/23/2024 0.00 15,750.00 15,750.00 07/31/2023 Maturity 91282CCN9 1,000,000.00 US Treasury Note 0.125% Due 7/31/2023 1,000,000.00 625.00 1,000,625.00 JUL 2023 1,000,000.00 41,485.54 1,041,485.54 08/05/2023 Interest 3135G0V34 600,000.00 FNMA Note 2.5% Due 2/5/2024 0.00 7,500.00 7,500.00 08/05/2023 Interest 91159HHV5 1,000,000.00 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 2/5/2024 0.00 16,875.00 16,875.00 08/12/2023 Interest 459200HU8 1,000,000.00 IBM Corp Note 3.625% Due 2/12/2024 0.00 18,125.00 18,125.00 08/14/2023 Interest 88579YBB6 500,000.00 3M Co. Callable Note Cont 1/14/2024 3.25% Due 2/14/2024 0.00 8,125.00 8,125.00 08/15/2023 Interest 912828D56 1,000,000.00 US Treasury Note 2.375% Due 8/15/2024 0.00 11,875.00 11,875.00 08/15/2023 Maturity 742718EB1 500,000.00 Procter & Gamble Co Note 3.1% Due 8/15/2023 500,000.00 7,750.00 507,750.00 08/25/2023 Maturity 89236THA6 700,000.00 Toyota Motor Credit Corp Note 1.35% Due 8/25/2023 700,000.00 4,725.00 704,725.00 08/31/2023 Interest 91282CBQ3 500,000.00 US Treasury Note 0.5% Due 2/28/2026 0.00 1,250.00 1,250.00 08/31/2023 Interest 91282CAJ0 1,200,000.00 US Treasury Note 0.25% Due 8/31/2025 0.00 1,500.00 1,500.00 08/31/2023 Maturity 9128282D1 1,250,000.00 US Treasury Note 1.375% Due 8/31/2023 1,250,000.00 8,593.75 1,258,593.75 AUG 2023 2,450,000.00 86,318.75 2,536,318.75 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 21 Cash Flow Report As of January 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/01/2023 Interest 713448CM8 500,000.00 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 3/1/2024 0.00 9,000.00 9,000.00 09/05/2023 Interest 06051GHF9 500,000.00 Bank of America Corp Callable Note 1X 3/5/2023 3.55% Due 3/5/2024 0.00 7,300.67 7,300.67 09/12/2023 Interest 3130ATHT7 1,300,000.00 FHLB Note 4.375% Due 9/12/2025 0.00 28,437.50 28,437.50 09/12/2023 Maturity 3135G0U43 1,000,000.00 FNMA Note 2.875% Due 9/12/2023 1,000,000.00 14,375.00 1,014,375.00 09/13/2023 Interest 46647PBH8 600,000.00 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 3/13/2026 0.00 6,015.00 6,015.00 09/30/2023 Interest 9128282Y5 1,000,000.00 US Treasury Note 2.125% Due 9/30/2024 0.00 10,625.00 10,625.00 09/30/2023 Interest 91282CAM3 500,000.00 US Treasury Note 0.25% Due 9/30/2025 0.00 625.00 625.00 SEP 2023 1,000,000.00 76,378.17 1,076,378.17 10/15/2023 Interest 91282CBV2 1,000,000.00 US Treasury Note 0.375% Due 4/15/2024 0.00 1,875.00 1,875.00 10/22/2023 Interest 3133EMWV0 1,000,000.00 FFCB Note 0.35% Due 4/22/2024 0.00 1,750.00 1,750.00 10/23/2023 Interest 46647PAP1 500,000.00 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 0.00 6,160.00 6,160.00 10/26/2023 Interest 3136G46B4 1,200,000.00 FNMA Callable Note Qtrly 01/26/2024 0.35% Due 4/26/2024 0.00 2,100.00 2,100.00 10/31/2023 Interest 912828YM6 1,000,000.00 US Treasury Note 1.5% Due 10/31/2024 0.00 7,500.00 7,500.00 10/31/2023 Interest 91282CBW0 500,000.00 US Treasury Note 0.75% Due 4/30/2026 0.00 1,875.00 1,875.00 OCT 2023 0.00 21,260.00 21,260.00 11/06/2023 Interest 3133EMYR7 1,000,000.00 FFCB Callable Note Cont 5/6/2022 0.375% Due 5/6/2024 0.00 1,875.00 1,875.00 11/11/2023 Interest 166764BW9 700,000.00 Chevron Corp Callable Note Cont 4/11/2025 1.554% Due 5/11/2025 0.00 5,439.00 5,439.00 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 22 Cash Flow Report As of January 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/15/2023 Interest 91282CCC3 1,000,000.00 US Treasury Note 0.25% Due 5/15/2024 0.00 1,250.00 1,250.00 11/15/2023 Interest 717081DM2 500,000.00 Pfizer Inc. Note 3.4% Due 5/15/2024 0.00 8,500.00 8,500.00 11/15/2023 Maturity 91282CAW1 1,000,000.00 US Treasury Note 0.25% Due 11/15/2023 1,000,000.00 1,250.00 1,001,250.00 11/24/2023 Maturity 14912L5X5 1,000,000.00 Caterpillar Finance Serv Corp Note 3.75% Due 11/24/2023 1,000,000.00 18,750.00 1,018,750.00 11/30/2023 Interest 9128285N6 500,000.00 US Treasury Note 2.875% Due 11/30/2025 0.00 7,187.50 7,187.50 11/30/2023 Interest 9128286X3 500,000.00 US Treasury Note 2.125% Due 5/31/2026 0.00 5,312.50 5,312.50 11/30/2023 Interest 912828YV6 700,000.00 US Treasury Note 1.5% Due 11/30/2024 0.00 5,250.00 5,250.00 11/30/2023 Maturity 912828U57 650,000.00 US Treasury Note 2.125% Due 11/30/2023 650,000.00 6,906.25 656,906.25 NOV 2023 2,650,000.00 61,720.25 2,711,720.25 12/05/2023 Interest 06051GHF9 500,000.00 Bank of America Corp Callable Note 1X 3/5/2023 3.55% Due 3/5/2024 0.00 7,221.32 7,221.32 12/15/2023 Maturity 91282CBA8 1,200,000.00 US Treasury Note 0.125% Due 12/15/2023 1,200,000.00 750.00 1,200,750.00 12/23/2023 Interest 3130AMQQ8 1,000,000.00 FHLB Callable Note Qtrly 12/23/2021 0.35% Due 4/23/2024 0.00 1,750.00 1,750.00 12/31/2023 Interest 91282CCJ8 500,000.00 US Treasury Note 0.875% Due 6/30/2026 0.00 2,187.50 2,187.50 DEC 2023 1,200,000.00 11,908.82 1,211,908.82 01/02/2024 Interest 3135G0V75 750,000.00 FNMA Note 1.75% Due 7/2/2024 0.00 6,562.50 6,562.50 01/11/2024 Maturity 89236THU2 480,000.00 Toyota Motor Credit Corp Note 0.45% Due 1/11/2024 480,000.00 1,080.00 481,080.00 01/17/2024 Maturity 24422EVN6 1,000,000.00 John Deere Capital Corp Note 0.45% Due 1/17/2024 1,000,000.00 2,250.00 1,002,250.00 01/23/2024 Interest 46647PAP1 500,000.00 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 0.00 6,160.00 6,160.00 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 23 Cash Flow Report As of January 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/23/2024 Maturity 693475AV7 900,000.00 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 1/23/2024 900,000.00 15,750.00 915,750.00 01/23/2024 Maturity 17325FAS7 500,000.00 Citibank Callable Note Cont 12/23/2023 3.65% Due 1/23/2024 500,000.00 9,125.00 509,125.00 JAN 2024 2,880,000.00 40,927.50 2,920,927.50 TOTAL 18,680,000.00 643,741.00 19,323,741.00 Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 24 Important DisclosuresCity of San Rafael Account #11045 Chandler Asset Management, Inc. ;͞Chandler͟Ϳis an SEC registered investment adviser. For additional information about our firm, please see our current disclosures (Form ADV). To obtain a copy of our current disclosures, you may contact your client service representative by calling the number on the front of this statement or you may visit our website at www.chandlerasset.com. Information contained in this monthly statement is confidential and is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of this statement, but may become outdated or superseded at any time without notice. Custody: Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account. Valuation: Prices are provided by IDC, an independent pricing source. In the event IDC does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A. Performance: Performance results are presented gross-of-advisory fees and represent the client ͛s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio. Source ice Data Indices, LLC ("ICE"), used with permission. ICE PERMITS USE OF THE ICE INDICES AND RELATED DATA ON AN "AS IS" BASIS; ICE, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM. NEITHER ICE DATA, ITS AFFILIATES OR THEIR RESPECTIVE THIRD PARTY PROVIDERS GUARANTEE THE QUALITY, ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN "AS IS" BASIS AND LICENSEE'S USE IS AT LICENSEE'S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE, OR RECOMMEND CHANDLER, OR ANY OF ITS PRODUCTS OR SERVICES. Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index. Ratings: Ratings information have been provided by Moody͛s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy. Security level ratings for U.S. Agency issued mortgage-backed securities ;͞MBS͟Ϳreflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P, Moody ͛s and Fitch respectively. Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 25 Benchmark Index & DisclosuresCity of San Rafael Account #11045 Benchmark Index Disclosure ICE BofA 1-3 Yr US Treasury & Agency Index The ICE BofA 1-3 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody ͛s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than three years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies. Execution Time: 2/2/2023 2:45:10 AMChandler Asset Management - CONFIDENTIAL Page 26 MONTHLY ACCOUNT STATEMENT City of San Rafael - Account #11045 FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures. CHANDLER ASSET MANAGEMENT chandlerasset.com Chandler Team: For questions about your account, please call (800) 317-4747, or contact operations@chandlerasset.com Custodian US Bank Alexander Bazan (503) 402-5305 ACCOUNT SUMMARY Beg. Values as of 1/31/23 End Values as of 2/28/23 Market Value 43,962,169 43,870,229 Accrued Interest 207,512 188,274 Total Market Value 44,169,681 44,058,503 Income Earned 182,536 62,885 Cont/WD -2,419 Par 45,230,711 45,319,796 Book Value 45,624,364 45,264,756 Cost Value 45,674,635 45,752,021 TOP ISSUERS Government of United States 40.8% Federal National Mortgage Assoc 7.8% Federal Home Loan Bank 7.4% Federal Farm Credit Bank 6.6% Federal Home Loan Mortgage Corp 2.8% Toyota Motor Corp 2.6% JP Morgan Chase & Co 2.4% Caterpillar Inc 2.3% Total 72.8% PORTFOLIO CHARACTERISTICS Average Modified Duration 1.25 Average Coupon 2.05% Average Purchase YTM 1.70% Average Market YTM 5.01% Average S&P/Moody Rating AA/Aa1 Average Final Maturity 1.39 yrs Average Life 1.31 yrs CREDIT QUALITY (S&P)MATURITY DISTRIBUTIONSECTOR ALLOCATION Portfolio Summary As of February 28, 2023 City of San Rafael Account #11045 PERFORMANCE REVIEW Annualized TOTAL RATE OF RETURN 1M 3M YTD 1YR 2YRS 3YRS 5YRS 10YRS 1/1/1900 City of San Rafael -0.25%N/A N/A N/A N/A N/A N/A N/A N/A ICE BofA 1-3 Yr US Treasury & Agency Index -0.72%0.16%-0.04%-2.69%-2.10%-0.89%0.83%0.66%N/A Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 1 Holdings Report As of February 28, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration ABS 05593AAC3 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 435,000.00 Various 5.11% 435,745.64 435,732.07 99.88 5.31% 434,459.51 997.60 0.99% (1,272.56) Aaa / AAA NR 2.74 1.58 43815JAC7 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 120,000.00 02/16/2023 5.10% 119,977.70 119,977.80 99.81 5.19% 119,772.52 117.60 0.27% (205.28) Aaa / NR AAA 4.15 2.20 58768PAC8 Mercedes-Benz Auto Receivables 2022- 1 A3 5.21% Due 8/16/2027 260,000.00 02/15/2023 5.02% 261,340.63 261,327.03 100.11 5.23% 260,287.59 602.04 0.59% (1,039.44) Aaa / AAA NR 4.47 2.08 89239HAD0 Toyota Auto Receivables Owner 20222- D A3 5.3% Due 9/15/2027 350,000.00 02/10/2023 4.82% 354,128.91 354,076.69 100.61 5.09% 352,141.44 824.44 0.80% (1,935.25) Aaa / NR AAA 4.55 2.14 Total ABS 1,165,000.00 5.00% 1,171,192.88 1,171,113.59 5.21% 1,166,661.06 2,541.68 2.65% (4,452.53) Aaa / AAA AAA 3.82 1.93 AGENCY 3137EAEQ8 FHLMC Note 0.375% Due 4/20/2023 1,250,000.00 12/23/2021 0.48% 1,248,223.75 1,249,816.12 99.40 4.56% 1,242,483.75 1,705.73 2.82% (7,332.37) Aaa / AA+ AAA 0.14 0.14 3135G0U43 FNMA Note 2.875% Due 9/12/2023 1,000,000.00 09/26/2019 1.63% 1,047,553.22 1,006,408.35 98.77 5.21% 987,748.00 13,496.53 2.27% (18,660.35) Aaa / AA+ AAA 0.54 0.52 3135G0V34 FNMA Note 2.5% Due 2/5/2024 600,000.00 10/24/2019 1.64% 621,262.80 604,632.98 97.46 5.31% 584,781.60 1,083.33 1.33% (19,851.38) Aaa / AA+ AAA 0.94 0.91 3133EMWV0 FFCB Note 0.35% Due 4/22/2024 1,000,000.00 05/03/2021 0.35% 1,000,000.00 1,000,000.00 94.82 5.04% 948,218.00 1,254.17 2.16% (51,782.00) Aaa / AA+ AAA 1.15 1.12 3130AMQQ8 FHLB Callable Note Qtrly 12/23/2021 0.35% Due 4/23/2024 1,000,000.00 06/23/2021 0.35% 1,000,000.00 1,000,000.00 94.54 5.32% 945,409.00 661.11 2.15% (54,591.00) Aaa / AA+ NR 1.15 1.12 3136G46B4 FNMA Callable Note Qtrly 01/26/2024 0.35% Due 4/26/2024 1,200,000.00 10/30/2020 0.36% 1,199,700.00 1,199,900.63 94.51 5.29% 1,134,066.00 1,458.33 2.58% (65,834.63) Aaa / AA+ AAA 1.16 1.13 3133EMYR7 FFCB Callable Note Cont 5/6/2022 0.375% Due 5/6/2024 1,000,000.00 05/06/2021 0.38% 1,000,000.00 1,000,000.00 94.38 5.32% 943,791.00 1,197.92 2.14% (56,209.00) Aaa / AA+ AAA 1.19 1.16 3135G0V75 FNMA Note 1.75% Due 7/2/2024 750,000.00 11/05/2019 1.65% 753,426.75 750,985.12 95.66 5.13% 717,429.75 2,151.04 1.63% (33,555.37) Aaa / AA+ AAA 1.34 1.30 3133EPBF1 Federal Farm Credit Bank Note 4.875% Due 8/21/2024 1,000,000.00 02/15/2023 4.98% 998,490.00 998,512.08 99.54 5.20% 995,376.00 1,354.17 2.26% (3,136.08) Aaa / AA+ AAA 1.48 1.41 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 2 Holdings Report As of February 28, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration AGENCY 3130ATHT7 FHLB Note 4.375% Due 9/12/2025 1,300,000.00 10/06/2022 4.29% 1,303,159.00 1,302,728.76 99.23 4.70% 1,289,951.00 24,171.88 2.98% (12,777.76) Aaa / AA+ NR 2.54 2.33 3130ATUC9 FHLB Note 4.5% Due 12/12/2025 1,000,000.00 02/13/2023 4.32% 1,004,720.00 1,004,651.40 99.70 4.61% 997,014.00 14,750.00 2.30% (7,637.40) Aaa / AA+ NR 2.79 2.56 Total Agency 11,100,000.00 1.88% 11,176,535.52 11,117,635.44 5.03% 10,786,268.10 63,284.21 24.63% (331,367.34) Aaa / AA+ AAA 1.33 1.26 CORPORATE 931142DH3 Wal-Mart Stores Callable Note Cont 1/11/2023 2.55% Due 4/11/2023 500,000.00 09/19/2019 2.01% 509,155.00 500,288.73 99.70 5.03% 498,500.00 4,958.33 1.14% (1,788.73) Aa2 / AA AA 0.12 0.12 037833AK6 Apple Inc Note 2.4% Due 5/3/2023 500,000.00 09/19/2019 2.00% 506,880.00 500,327.87 99.53 5.00% 497,640.50 3,933.33 1.14% (2,687.37) Aaa / AA+ NR 0.18 0.18 02665WDH1 American Honda Finance Note 1.95% Due 5/10/2023 1,000,000.00 05/05/2021 0.38% 1,031,510.00 1,003,000.95 99.36 5.15% 993,615.00 6,012.50 2.27% (9,385.95) A3 / A- A 0.19 0.20 742718EB1 Procter & Gamble Co Note 3.1% Due 8/15/2023 500,000.00 12/15/2021 0.63% 520,430.00 505,611.53 99.12 5.04% 495,581.50 688.89 1.13% (10,030.03) Aa3 / AA- NR 0.46 0.45 89236THA6 Toyota Motor Credit Corp Note 1.35% Due 8/25/2023 700,000.00 04/23/2021 0.43% 714,959.00 703,100.40 98.14 5.23% 686,991.20 157.50 1.56% (16,109.20) A1 / A+ A+ 0.49 0.48 14912L5X5 Caterpillar Finance Serv Corp Note 3.75% Due 11/24/2023 1,000,000.00 05/05/2021 0.35% 1,086,390.00 1,024,815.13 99.08 5.02% 990,819.00 10,104.17 2.27% (33,996.13) A2 / A A 0.74 0.71 89236THU2 Toyota Motor Credit Corp Note 0.45% Due 1/11/2024 480,000.00 09/27/2021 0.51% 479,342.40 479,751.43 95.96 5.27% 460,589.28 300.00 1.05% (19,162.15) A1 / A+ A+ 0.87 0.85 24422EVN6 John Deere Capital Corp Note 0.45% Due 1/17/2024 1,000,000.00 05/05/2021 0.40% 1,001,230.00 1,000,401.28 95.90 5.24% 959,006.00 550.00 2.18% (41,395.28) A2 / A A+ 0.88 0.86 693475AV7 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 1/23/2024 900,000.00 07/29/2019 1.99% 957,939.00 911,594.87 98.43 5.30% 885,871.80 3,325.00 2.02% (25,723.07) A3 / A- A 0.90 0.87 17325FAS7 Citibank Callable Note Cont 12/23/2023 3.65% Due 1/23/2024 500,000.00 05/19/2021 0.53% 541,470.00 513,893.93 98.54 5.32% 492,722.50 1,926.39 1.12% (21,171.43) Aa3 / A+ A+ 0.90 0.87 91159HHV5 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 2/5/2024 1,000,000.00 05/04/2021 0.48% 1,079,130.00 1,026,795.76 98.14 5.44% 981,378.00 2,437.50 2.23% (45,417.76) A2 / A+ A+ 0.94 0.90 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 3 Holdings Report As of February 28, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration CORPORATE 459200HU8 IBM Corp Note 3.625% Due 2/12/2024 1,000,000.00 05/05/2021 0.46% 1,086,900.00 1,029,853.11 98.26 5.51% 982,624.00 1,913.19 2.23% (47,229.11) A3 / A- NR 0.96 0.92 88579YBB6 3M Co. Callable Note Cont 1/14/2024 3.25% Due 2/14/2024 500,000.00 02/17/2021 0.43% 541,935.00 513,440.71 97.89 5.53% 489,473.00 767.36 1.11% (23,967.71) A1 / A NR 0.96 0.93 713448CM8 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 3/1/2024 500,000.00 06/23/2021 0.78% 537,465.00 513,963.53 98.63 5.01% 493,150.50 9,000.00 1.14% (20,813.03) A1 / A+ NR 1.01 0.96 06051GHF9 Bank of America Corp Callable Note 1X 3/5/2023 3.55% Due 3/5/2024 500,000.00 07/21/2020 2.14% 535,525.00 509,935.19 99.99 5.89% 499,935.00 8,677.78 1.15% (10,000.19) A2 / A- AA- 1.02 0.01 46647PAP1 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 500,000.00 02/18/2021 1.79% 534,240.00 512,367.72 99.67 5.19% 498,345.00 6,327.11 1.15% (14,022.72) A1 / A- AA- 1.15 1.08 717081DM2 Pfizer Inc. Note 3.4% Due 5/15/2024 500,000.00 09/27/2021 0.55% 537,160.00 517,052.61 97.93 5.17% 489,669.00 5,005.56 1.12% (27,383.61) A1 / A+ A 1.21 1.16 166764BW9 Chevron Corp Callable Note Cont 4/11/2025 1.554% Due 5/11/2025 700,000.00 05/12/2022 3.20% 667,380.00 676,108.46 92.82 5.04% 649,742.80 3,323.83 1.48% (26,365.66) Aa2 / AA- NR 2.20 2.11 46647PBH8 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 3/13/2026 600,000.00 04/05/2022 4.06% 577,518.00 582,677.29 93.01 5.69% 558,073.80 5,614.00 1.28% (24,603.49) A1 / A- AA- 3.04 1.93 Total Corporate 12,880,000.00 1.11% 13,446,558.40 13,024,980.50 5.27% 12,603,727.88 75,022.44 28.78% (421,252.62) A1 / A A+ 0.93 0.82 MONEY MARKET FUND 31846V807 First American Treasury MMF Class Y 999,796.03 Various 4.17% 999,796.03 999,796.03 1.00 4.17% 999,796.03 0.00 2.27% 0.00 Aaa / AA+ AAA 0.00 0.00 Total Money Market Fund 999,796.03 4.17% 999,796.03 999,796.03 4.17% 999,796.03 0.00 2.27% 0.00 Aaa / AA+ AAA 0.00 0.00 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 4 Holdings Report As of February 28, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration NEGOTIABLE CD 96130ASC3 Westpac Banking Corp NY Yankee CD 5.38% Due 2/16/2024 375,000.00 02/16/2023 5.34% 375,141.03 375,136.38 99.84 5.55% 374,389.88 728.54 0.85% (746.50) P-1 / A-1+ F-1 0.97 0.94 Total Negotiable CD 375,000.00 5.34% 375,141.03 375,136.38 5.55% 374,389.88 728.54 0.85% (746.50) P-1 / A-1+ F-1 0.97 0.94 US TREASURY 912828ZD5 US Treasury Note 0.5% Due 3/15/2023 1,000,000.00 12/28/2021 0.47% 1,000,315.85 1,000,010.00 99.84 4.38% 998,390.00 2,306.63 2.27% (1,620.00) Aaa / AA+ AAA 0.04 0.04 91282CCK5 US Treasury Note 0.125% Due 6/30/2023 800,000.00 01/13/2022 0.74% 792,846.43 798,376.02 98.41 4.91% 787,312.80 165.75 1.79% (11,063.22) Aaa / AA+ AAA 0.33 0.33 91282CCN9 US Treasury Note 0.125% Due 7/31/2023 1,000,000.00 01/13/2022 0.79% 989,808.04 997,253.23 97.99 4.98% 979,883.00 100.14 2.22% (17,370.23) Aaa / AA+ AAA 0.42 0.41 9128282D1 US Treasury Note 1.375% Due 8/31/2023 1,250,000.00 12/23/2021 0.61% 1,265,970.98 1,254,744.63 98.20 5.08% 1,227,441.25 46.71 2.79% (27,303.38) Aaa / AA+ AAA 0.50 0.49 91282CAW1 US Treasury Note 0.25% Due 11/15/2023 1,000,000.00 05/03/2021 0.25% 1,000,120.54 1,000,033.71 96.64 5.13% 966,406.00 732.04 2.20% (33,627.71) Aaa / AA+ AAA 0.71 0.69 912828U57 US Treasury Note 2.125% Due 11/30/2023 650,000.00 10/31/2019 1.67% 661,529.52 652,118.77 97.82 5.10% 635,857.30 3,453.13 1.45% (16,261.47) Aaa / AA+ AAA 0.75 0.73 91282CBA8 US Treasury Note 0.125% Due 12/15/2023 1,200,000.00 10/07/2021 0.33% 1,194,566.52 1,198,034.70 96.15 5.13% 1,153,827.60 313.19 2.62% (44,207.10) Aaa / AA+ AAA 0.79 0.77 91282CBV2 US Treasury Note 0.375% Due 4/15/2024 1,000,000.00 05/03/2021 0.33% 1,001,175.22 1,000,448.07 94.84 5.15% 948,398.00 1,411.40 2.16% (52,050.07) Aaa / AA+ AAA 1.13 1.10 91282CCC3 US Treasury Note 0.25% Due 5/15/2024 1,000,000.00 05/17/2021 0.35% 996,878.35 998,741.64 94.32 5.15% 943,203.00 732.04 2.14% (55,538.64) Aaa / AA+ AAA 1.21 1.18 912828D56 US Treasury Note 2.375% Due 8/15/2024 1,000,000.00 12/28/2021 0.91% 1,038,011.16 1,021,082.15 96.23 5.08% 962,305.00 918.51 2.19% (58,777.15) Aaa / AA+ AAA 1.46 1.41 9128282Y5 US Treasury Note 2.125% Due 9/30/2024 1,000,000.00 08/25/2021 0.44% 1,051,800.23 1,026,494.99 95.69 4.99% 956,875.00 8,873.63 2.19% (69,619.99) Aaa / AA+ AAA 1.59 1.51 912828YM6 US Treasury Note 1.5% Due 10/31/2024 1,000,000.00 12/28/2021 0.97% 1,014,925.23 1,008,771.09 94.52 4.96% 945,156.00 5,013.81 2.16% (63,615.09) Aaa / AA+ AAA 1.67 1.61 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 5 Holdings Report As of February 28, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration US TREASURY 912828YV6 US Treasury Note 1.5% Due 11/30/2024 700,000.00 09/10/2021 0.48% 722,889.06 712,446.05 94.32 4.92% 660,214.80 2,625.00 1.50% (52,231.25) Aaa / AA+ AAA 1.76 1.69 91282CAJ0 US Treasury Note 0.25% Due 8/31/2025 1,200,000.00 06/30/2022 3.15% 1,095,937.50 1,117,864.31 89.81 4.61% 1,077,750.00 8.15 2.45% (40,114.31) Aaa / AA+ AAA 2.51 2.44 91282CAM3 US Treasury Note 0.25% Due 9/30/2025 500,000.00 07/15/2022 3.12% 456,445.31 464,948.31 89.65 4.54% 448,242.00 521.98 1.02% (16,706.31) Aaa / AA+ AAA 2.59 2.52 9128285N6 US Treasury Note 2.875% Due 11/30/2025 500,000.00 07/15/2022 3.11% 496,212.61 496,915.46 95.74 4.54% 478,711.00 3,593.75 1.09% (18,204.46) Aaa / AA+ AAA 2.76 2.59 91282CGE5 US Treasury Note 3.875% Due 1/15/2026 1,000,000.00 02/06/2023 4.13% 992,929.69 993,074.65 98.28 4.52% 982,812.00 4,816.99 2.24% (10,262.65) Aaa / AA+ AAA 2.88 2.68 91282CBQ3 US Treasury Note 0.5% Due 2/28/2026 500,000.00 07/15/2022 3.09% 455,839.84 463,477.81 88.90 4.50% 444,511.50 6.79 1.01% (18,966.31) Aaa / AA+ AAA 3.00 2.91 91282CBW0 US Treasury Note 0.75% Due 4/30/2026 500,000.00 09/30/2022 4.17% 443,595.43 450,150.09 89.14 4.46% 445,722.50 1,253.45 1.01% (4,427.59) Aaa / AA+ AAA 3.17 3.06 9128286X3 US Treasury Note 2.125% Due 5/31/2026 500,000.00 09/30/2022 4.14% 465,958.71 469,822.99 93.07 4.44% 465,351.50 2,656.25 1.06% (4,471.49) Aaa / AA+ AAA 3.25 3.07 91282CCJ8 US Treasury Note 0.875% Due 6/30/2026 500,000.00 09/30/2022 4.15% 443,595.43 449,858.03 89.13 4.42% 445,625.00 725.14 1.01% (4,233.03) Aaa / AA+ AAA 3.34 3.22 91282CGC9 US Treasury Note 3.875% Due 12/31/2027 1,000,000.00 02/06/2023 3.84% 1,001,445.31 1,001,427.53 98.54 4.21% 985,391.00 6,422.65 2.25% (16,036.53) Aaa / AA+ AAA 4.84 4.33 Total US Treasury 18,800,000.00 1.58% 18,582,796.96 18,576,094.23 4.83% 17,939,386.25 46,697.13 40.82% (636,707.98) Aaa / AA+ AAA 1.66 1.58 TOTAL PORTFOLIO 45,319,796.03 1.70% 45,752,020.82 45,264,756.17 5.01% 43,870,229.20 188,274.00 100.00% (1,394,526.97) Aa1 / AA AAA 1.39 1.25 TOTAL MARKET VALUE PLUS ACCRUED 44,058,503.20 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 6 Transaction Ledger As of February 28, 2023 City of San Rafael Account #11045 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 02/01/2023 31846V807 11,494.99 First American Treasury MMF Class Y 1.000 3.93%11,494.99 0.00 11,494.99 0.00 Purchase 02/05/2023 31846V807 24,375.00 First American Treasury MMF Class Y 1.000 3.93%24,375.00 0.00 24,375.00 0.00 Purchase 02/07/2023 91282CGC9 1,000,000.00 US Treasury Note 3.875% Due 12/31/2027 100.145 3.84%1,001,445.31 4,067.68 1,005,512.99 0.00 Purchase 02/07/2023 91282CGE5 1,000,000.00 US Treasury Note 3.875% Due 1/15/2026 99.293 4.13%992,929.69 2,462.02 995,391.71 0.00 Purchase 02/12/2023 31846V807 18,125.00 First American Treasury MMF Class Y 1.000 3.93%18,125.00 0.00 18,125.00 0.00 Purchase 02/14/2023 3130ATUC9 1,000,000.00 FHLB Note 4.5% Due 12/12/2025 100.472 4.32%1,004,720.00 12,625.00 1,017,345.00 0.00 Purchase 02/14/2023 31846V807 8,125.00 First American Treasury MMF Class Y 1.000 3.93%8,125.00 0.00 8,125.00 0.00 Purchase 02/14/2023 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222- D A3 5.3% Due 9/15/2027 101.180 4.82%354,128.91 1,494.31 355,623.22 0.00 Purchase 02/15/2023 05593AAC3 60,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 99.998 5.22%59,998.57 0.00 59,998.57 0.00 Purchase 02/15/2023 05593AAC3 375,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 100.199 5.09%375,747.07 0.00 375,747.07 0.00 Purchase 02/15/2023 31846V807 28,218.75 First American Treasury MMF Class Y 1.000 3.93%28,218.75 0.00 28,218.75 0.00 Purchase 02/15/2023 31846V807 1,250,000.00 First American Treasury MMF Class Y 1.000 3.93%1,250,000.00 0.00 1,250,000.00 0.00 Purchase 02/15/2023 31846V807 1,545.83 First American Treasury MMF Class Y 1.000 3.93%1,545.83 0.00 1,545.83 0.00 Purchase 02/17/2023 31846V807 8,250.00 First American Treasury MMF Class Y 1.000 3.93%8,250.00 0.00 8,250.00 0.00 Purchase 02/17/2023 31846V807 1,200,000.00 First American Treasury MMF Class Y 1.000 3.93%1,200,000.00 0.00 1,200,000.00 0.00 Purchase 02/17/2023 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022- 1 A3 5.21% Due 8/16/2027 100.516 5.02%261,340.63 75.26 261,415.89 0.00 Purchase 02/17/2023 96130ASC3 375,000.00 Westpac Banking Corp NY Yankee CD 5.38% Due 2/16/2024 100.038 5.34%375,141.03 56.04 375,197.07 0.00 Purchase 02/21/2023 3133EPBF1 1,000,000.00 Federal Farm Credit Bank Note 4.875% Due 8/21/2024 99.849 4.98%998,490.00 0.00 998,490.00 0.00 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 7 Transaction Ledger As of February 28, 2023 City of San Rafael Account #11045 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 02/24/2023 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 99.981 5.10%119,977.70 0.00 119,977.70 0.00 Purchase 02/25/2023 31846V807 4,725.00 First American Treasury MMF Class Y 1.000 3.93%4,725.00 0.00 4,725.00 0.00 Purchase 02/28/2023 31846V807 11,343.75 First American Treasury MMF Class Y 1.000 4.17%11,343.75 0.00 11,343.75 0.00 Subtotal 8,106,203.32 8,110,122.23 20,780.31 8,130,902.54 0.00 Short Sale 02/17/2023 31846V807 -375,197.07 First American Treasury MMF Class Y 1.000 -375,197.07 0.00 -375,197.07 0.00 Subtotal -375,197.07 -375,197.07 0.00 -375,197.07 0.00 TOTAL ACQUISITIONS 7,731,006.25 7,734,925.16 20,780.31 7,755,705.47 0.00 DISPOSITIONS Closing Purchase 02/17/2023 31846V807 -375,197.07 First American Treasury MMF Class Y 1.000 -375,197.07 0.00 -375,197.07 0.00 Subtotal -375,197.07 -375,197.07 0.00 -375,197.07 0.00 Sale 02/07/2023 31846V807 2,000,904.70 First American Treasury MMF Class Y 1.000 3.93%2,000,904.70 0.00 2,000,904.70 0.00 Sale 02/14/2023 31846V807 355,623.22 First American Treasury MMF Class Y 1.000 3.93%355,623.22 0.00 355,623.22 0.00 Sale 02/14/2023 31846V807 1,017,345.00 First American Treasury MMF Class Y 1.000 3.93%1,017,345.00 0.00 1,017,345.00 0.00 Sale 02/15/2023 31846V807 59,998.57 First American Treasury MMF Class Y 1.000 3.93%59,998.57 0.00 59,998.57 0.00 Sale 02/15/2023 31846V807 375,747.07 First American Treasury MMF Class Y 1.000 3.93%375,747.07 0.00 375,747.07 0.00 Sale 02/17/2023 31846V807 261,415.89 First American Treasury MMF Class Y 1.000 3.93%261,415.89 0.00 261,415.89 0.00 Sale 02/17/2023 31846V807 375,197.07 First American Treasury MMF Class Y 1.000 3.93%375,197.07 0.00 375,197.07 0.00 Sale 02/21/2023 31846V807 998,490.00 First American Treasury MMF Class Y 1.000 3.93%998,490.00 0.00 998,490.00 0.00 Sale 02/24/2023 31846V807 119,977.70 First American Treasury MMF Class Y 1.000 3.93%119,977.70 0.00 119,977.70 0.00 Subtotal 5,564,699.22 5,564,699.22 0.00 5,564,699.22 0.00 Paydown 02/15/2023 89239HAD0 0.00 Toyota Auto Receivables Owner 20222- D A3 5.3% Due 9/15/2027 100.000 0.00 1,545.83 1,545.83 0.00 Subtotal 0.00 0.00 1,545.83 1,545.83 0.00 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 8 Transaction Ledger As of February 28, 2023 City of San Rafael Account #11045 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss DISPOSITIONS Maturity 02/15/2023 912828Z86 1,250,000.00 US Treasury Note 1.375% Due 2/15/2023 100.000 1,250,000.00 0.00 1,250,000.00 0.00 Maturity 02/17/2023 3130AJ7E3 1,200,000.00 FHLB Note 1.375% Due 2/17/2023 100.000 1,200,000.00 0.00 1,200,000.00 0.00 Subtotal 2,450,000.00 2,450,000.00 0.00 2,450,000.00 0.00 Security Withdrawal 02/07/2023 31846V807 2,168.59 First American Treasury MMF Class Y 1.000 2,168.59 0.00 2,168.59 0.00 Security Withdrawal 02/27/2023 31846V807 250.00 First American Treasury MMF Class Y 1.000 250.00 0.00 250.00 0.00 Subtotal 2,418.59 2,418.59 0.00 2,418.59 0.00 TOTAL DISPOSITIONS 7,641,920.74 7,641,920.74 1,545.83 7,643,466.57 0.00 OTHER TRANSACTIONS Interest 02/05/2023 3135G0V34 600,000.00 FNMA Note 2.5% Due 2/5/2024 0.000 7,500.00 0.00 7,500.00 0.00 Interest 02/05/2023 91159HHV5 1,000,000.00 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 2/5/2024 0.000 16,875.00 0.00 16,875.00 0.00 Interest 02/12/2023 459200HU8 1,000,000.00 IBM Corp Note 3.625% Due 2/12/2024 0.000 18,125.00 0.00 18,125.00 0.00 Interest 02/14/2023 88579YBB6 500,000.00 3M Co. Callable Note Cont 1/14/2024 3.25% Due 2/14/2024 0.000 8,125.00 0.00 8,125.00 0.00 Interest 02/15/2023 742718EB1 500,000.00 Procter & Gamble Co Note 3.1% Due 8/15/2023 0.000 7,750.00 0.00 7,750.00 0.00 Interest 02/15/2023 912828D56 1,000,000.00 US Treasury Note 2.375% Due 8/15/2024 0.000 11,875.00 0.00 11,875.00 0.00 Interest 02/15/2023 912828Z86 1,250,000.00 US Treasury Note 1.375% Due 2/15/2023 0.000 8,593.75 0.00 8,593.75 0.00 Interest 02/17/2023 3130AJ7E3 1,200,000.00 FHLB Note 1.375% Due 2/17/2023 0.000 8,250.00 0.00 8,250.00 0.00 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 9 Transaction Ledger As of February 28, 2023 City of San Rafael Account #11045 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss OTHER TRANSACTIONS Interest 02/25/2023 89236THA6 700,000.00 Toyota Motor Credit Corp Note 1.35% Due 8/25/2023 0.000 4,725.00 0.00 4,725.00 0.00 Interest 02/28/2023 9128282D1 1,250,000.00 US Treasury Note 1.375% Due 8/31/2023 0.000 8,593.75 0.00 8,593.75 0.00 Interest 02/28/2023 91282CAJ0 1,200,000.00 US Treasury Note 0.25% Due 8/31/2025 0.000 1,500.00 0.00 1,500.00 0.00 Interest 02/28/2023 91282CBQ3 500,000.00 US Treasury Note 0.5% Due 2/28/2026 0.000 1,250.00 0.00 1,250.00 0.00 Subtotal 10,700,000.00 103,162.50 0.00 103,162.50 0.00 Dividend 02/01/2023 31846V807 4,000,710.52 First American Treasury MMF Class Y 0.000 11,494.99 0.00 11,494.99 0.00 Subtotal 4,000,710.52 11,494.99 0.00 11,494.99 0.00 TOTAL OTHER TRANSACTIONS 14,700,710.52 114,657.49 0.00 114,657.49 0.00 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 10 Income Earned As of February 28, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income FIXED INCOME 02665WDH1 American Honda Finance Note 1.95% Due 05/10/2023 05/05/2021 05/05/2021 1,000,000.00 1,004,201.33 0.00 0.00 1,003,000.95 4,387.50 0.00 6,012.50 1,625.00 0.00 1,200.38 (1,200.38) 424.62 424.62 037833AK6 Apple Inc Note 2.4% Due 05/03/2023 09/19/2019 09/19/2019 500,000.00 500,473.59 0.00 0.00 500,327.87 2,933.33 0.00 3,933.33 1,000.00 0.00 145.72 (145.72) 854.28 854.28 05593AAC3 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 Various 02/15/2023 435,000.00 0.00 435,745.64 0.00 435,732.07 0.00 0.00 997.60 997.60 0.03 13.60 (13.57) 984.03 984.03 06051GHF9 Bank of America Corp Callable Note 1X 3/5/2023 3.55% Due 03/05/2024 07/21/2020 07/21/2020 500,000.00 510,687.04 0.00 0.00 509,935.19 7,198.61 0.00 8,677.78 1,479.17 0.00 751.85 (751.85) 727.32 727.32 14912L5X5 Caterpillar Finance Serv Corp Note 3.75% Due 11/24/2023 05/05/2021 05/05/2021 1,000,000.00 1,027,407.76 0.00 0.00 1,024,815.13 6,979.17 0.00 10,104.17 3,125.00 0.00 2,592.63 (2,592.63) 532.37 532.37 166764BW9 Chevron Corp Callable Note Cont 4/11/2025 1.554% Due 05/11/2025 05/12/2022 05/12/2022 700,000.00 675,274.34 0.00 0.00 676,108.46 2,417.33 0.00 3,323.83 906.50 834.12 0.00 834.12 1,740.62 1,740.62 17325FAS7 Citibank Callable Note Cont 12/23/2023 3.65% Due 01/23/2024 05/19/2021 05/19/2021 500,000.00 515,080.00 0.00 0.00 513,893.93 405.56 0.00 1,926.39 1,520.83 0.00 1,186.07 (1,186.07) 334.76 334.76 24422EVN6 John Deere Capital Corp Note 0.45% Due 01/17/2024 05/05/2021 05/05/2021 1,000,000.00 1,000,436.17 0.00 0.00 1,000,401.28 175.00 0.00 550.00 375.00 0.00 34.89 (34.89) 340.11 340.11 3130AJ7E3 FHLB Note Due 02/17/2023 03/11/2022 03/11/2022 0.00 1,200,079.21 0.00 1,200,000.00 0.00 7,516.67 8,250.00 0.00 733.33 0.00 79.21 (79.21) 654.12 654.12 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 11 Income Earned As of February 28, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 3130AMQQ8 FHLB Callable Note Qtrly 12/23/2021 0.35% Due 04/23/2024 06/23/2021 06/23/2021 1,000,000.00 1,000,000.00 0.00 0.00 1,000,000.00 369.44 0.00 661.11 291.67 0.00 0.00 0.00 291.67 291.67 3130ATHT7 FHLB Note 4.375% Due 09/12/2025 10/06/2022 10/06/2022 1,300,000.00 1,302,811.27 0.00 0.00 1,302,728.76 19,432.29 0.00 24,171.88 4,739.59 0.00 82.51 (82.51) 4,657.08 4,657.08 3130ATUC9 FHLB Note 4.5% Due 12/12/2025 02/13/2023 02/14/2023 1,000,000.00 0.00 1,004,720.00 0.00 1,004,651.40 0.00 (12,625.00) 14,750.00 2,125.00 0.00 68.60 (68.60) 2,056.40 2,056.40 3133EMWV0 FFCB Note 0.35% Due 04/22/2024 05/03/2021 05/03/2021 1,000,000.00 1,000,000.00 0.00 0.00 1,000,000.00 962.50 0.00 1,254.17 291.67 0.00 0.00 0.00 291.67 291.67 3133EMYR7 FFCB Callable Note Cont 5/6/2022 0.375% Due 05/06/2024 05/06/2021 05/06/2021 1,000,000.00 1,000,000.00 0.00 0.00 1,000,000.00 885.42 0.00 1,197.92 312.50 0.00 0.00 0.00 312.50 312.50 3133EPBF1 Federal Farm Credit Bank Note 4.875% Due 08/21/2024 02/15/2023 02/21/2023 1,000,000.00 0.00 998,490.00 0.00 998,512.08 0.00 0.00 1,354.17 1,354.17 22.08 0.00 22.08 1,376.25 1,376.25 3135G0U43 FNMA Note 2.875% Due 09/12/2023 09/26/2019 09/26/2019 1,000,000.00 1,007,328.52 0.00 0.00 1,006,408.35 11,100.69 0.00 13,496.53 2,395.84 0.00 920.17 (920.17) 1,475.67 1,475.67 3135G0V34 FNMA Note 2.5% Due 02/05/2024 10/24/2019 10/24/2019 600,000.00 605,013.40 0.00 0.00 604,632.98 7,333.33 7,500.00 1,083.33 1,250.00 0.00 380.42 (380.42) 869.58 869.58 3135G0V75 FNMA Note 1.75% Due 07/02/2024 11/05/2019 11/05/2019 750,000.00 751,041.52 0.00 0.00 750,985.12 1,057.29 0.00 2,151.04 1,093.75 0.00 56.40 (56.40) 1,037.35 1,037.35 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 12 Income Earned As of February 28, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 3136G46B4 FNMA Callable Note Qtrly 01/26/2024 0.35% Due 04/26/2024 10/30/2020 10/30/2020 1,200,000.00 1,199,894.03 0.00 0.00 1,199,900.63 1,108.33 0.00 1,458.33 350.00 6.60 0.00 6.60 356.60 356.60 3137EAEQ8 FHLMC Note 0.375% Due 04/20/2023 12/23/2021 12/23/2021 1,250,000.00 1,249,713.15 0.00 0.00 1,249,816.12 1,315.10 0.00 1,705.73 390.63 102.97 0.00 102.97 493.60 493.60 43815JAC7 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 04/21/2027 02/16/2023 02/24/2023 120,000.00 0.00 119,977.70 0.00 119,977.80 0.00 0.00 117.60 117.60 0.10 0.00 0.10 117.70 117.70 459200HU8 IBM Corp Note 3.625% Due 02/12/2024 05/05/2021 05/05/2021 1,000,000.00 1,032,255.08 0.00 0.00 1,029,853.11 17,017.36 18,125.00 1,913.19 3,020.83 0.00 2,401.97 (2,401.97) 618.86 618.86 46647PAP1 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 04/23/2024 02/18/2021 02/18/2021 500,000.00 513,194.21 0.00 0.00 512,367.72 4,844.19 0.00 6,327.11 1,482.92 0.00 826.49 (826.49) 656.43 656.43 46647PBH8 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 03/13/2026 04/05/2022 04/05/2022 600,000.00 582,239.53 0.00 0.00 582,677.29 4,611.50 0.00 5,614.00 1,002.50 437.76 0.00 437.76 1,440.26 1,440.26 58768PAC8 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 08/16/2027 02/15/2023 02/17/2023 260,000.00 0.00 261,340.63 0.00 261,327.03 0.00 (75.26) 602.04 526.78 0.00 13.60 (13.60) 513.18 513.18 693475AV7 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 01/23/2024 07/29/2019 07/29/2019 900,000.00 912,584.68 0.00 0.00 911,594.87 700.00 0.00 3,325.00 2,625.00 0.00 989.81 (989.81) 1,635.19 1,635.19 713448CM8 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 03/01/2024 06/23/2021 06/23/2021 500,000.00 515,031.78 0.00 0.00 513,963.53 7,500.00 0.00 9,000.00 1,500.00 0.00 1,068.25 (1,068.25) 431.75 431.75 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 13 Income Earned As of February 28, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 717081DM2 Pfizer Inc. Note 3.4% Due 05/15/2024 09/27/2021 09/27/2021 500,000.00 518,135.32 0.00 0.00 517,052.61 3,588.89 0.00 5,005.56 1,416.67 0.00 1,082.71 (1,082.71) 333.96 333.96 742718EB1 Procter & Gamble Co Note 3.1% Due 08/15/2023 12/15/2021 12/15/2021 500,000.00 506,552.38 0.00 0.00 505,611.53 7,147.22 7,750.00 688.89 1,291.67 0.00 940.85 (940.85) 350.82 350.82 88579YBB6 3M Co. Callable Note Cont 1/14/2024 3.25% Due 02/14/2024 02/17/2021 02/17/2021 500,000.00 514,515.96 0.00 0.00 513,440.71 7,538.19 8,125.00 767.36 1,354.17 0.00 1,075.25 (1,075.25) 278.92 278.92 89236THA6 Toyota Motor Credit Corp Note 1.35% Due 08/25/2023 04/23/2021 04/23/2021 700,000.00 703,590.86 0.00 0.00 703,100.40 4,095.00 4,725.00 157.50 787.50 0.00 490.46 (490.46) 297.04 297.04 89236THU2 Toyota Motor Credit Corp Note 0.45% Due 01/11/2024 09/27/2021 09/27/2021 480,000.00 479,729.41 0.00 0.00 479,751.43 120.00 0.00 300.00 180.00 22.02 0.00 22.02 202.02 202.02 89239HAD0 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 09/15/2027 02/10/2023 02/14/2023 350,000.00 0.00 354,128.91 0.00 354,076.69 0.00 51.52 824.44 875.96 0.00 52.22 (52.22) 823.74 823.74 91159HHV5 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 02/05/2024 05/04/2021 05/04/2021 1,000,000.00 1,028,996.00 0.00 0.00 1,026,795.76 16,500.00 16,875.00 2,437.50 2,812.50 0.00 2,200.24 (2,200.24) 612.26 612.26 9128282D1 US Treasury Note 1.375% Due 08/31/2023 12/23/2021 12/23/2021 1,250,000.00 1,255,470.58 0.00 0.00 1,254,744.63 7,311.81 8,593.75 46.71 1,328.65 0.00 725.95 (725.95) 602.70 602.70 9128282Y5 US Treasury Note 2.125% Due 09/30/2024 08/25/2021 08/25/2021 1,000,000.00 1,027,776.27 0.00 0.00 1,026,494.99 7,239.01 0.00 8,873.63 1,634.62 0.00 1,281.28 (1,281.28) 353.34 353.34 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 14 Income Earned As of February 28, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 9128285N6 US Treasury Note 2.875% Due 11/30/2025 07/15/2022 07/15/2022 500,000.00 496,829.52 0.00 0.00 496,915.46 2,487.98 0.00 3,593.75 1,105.77 85.94 0.00 85.94 1,191.71 1,191.71 9128286X3 US Treasury Note 2.125% Due 05/31/2026 09/30/2022 09/30/2022 500,000.00 469,111.15 0.00 0.00 469,822.99 1,838.94 0.00 2,656.25 817.31 711.84 0.00 711.84 1,529.15 1,529.15 912828D56 US Treasury Note 2.375% Due 08/15/2024 12/28/2021 12/28/2021 1,000,000.00 1,022,189.66 0.00 0.00 1,021,082.15 10,971.47 11,875.00 918.51 1,822.04 0.00 1,107.51 (1,107.51) 714.53 714.53 912828U57 US Treasury Note 2.125% Due 11/30/2023 10/31/2019 10/31/2019 650,000.00 652,335.29 0.00 0.00 652,118.77 2,390.63 0.00 3,453.13 1,062.50 0.00 216.52 (216.52) 845.98 845.98 912828YM6 US Treasury Note 1.5% Due 10/31/2024 12/28/2021 12/28/2021 1,000,000.00 1,009,173.70 0.00 0.00 1,008,771.09 3,853.59 0.00 5,013.81 1,160.22 0.00 402.61 (402.61) 757.61 757.61 912828YV6 US Treasury Note 1.5% Due 11/30/2024 09/10/2021 09/10/2021 700,000.00 712,990.56 0.00 0.00 712,446.05 1,817.31 0.00 2,625.00 807.69 0.00 544.51 (544.51) 263.18 263.18 912828Z86 US Treasury Note Due 02/15/2023 12/23/2021 12/23/2021 0.00 1,250,465.11 0.00 1,250,000.00 0.00 7,939.88 8,593.75 0.00 653.87 0.00 465.11 (465.11) 188.76 188.76 912828ZD5 US Treasury Note 0.5% Due 03/15/2023 12/28/2021 12/28/2021 1,000,000.00 1,000,030.01 0.00 0.00 1,000,010.00 1,919.89 0.00 2,306.63 386.74 0.00 20.01 (20.01) 366.73 366.73 91282CAJ0 US Treasury Note 0.25% Due 08/31/2025 06/30/2022 06/30/2022 1,200,000.00 1,115,348.12 0.00 0.00 1,117,864.31 1,276.24 1,500.00 8.15 231.91 2,516.19 0.00 2,516.19 2,748.10 2,748.10 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 15 Income Earned As of February 28, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 91282CAM3 US Treasury Note 0.25% Due 09/30/2025 07/15/2022 07/15/2022 500,000.00 463,908.65 0.00 0.00 464,948.31 425.82 0.00 521.98 96.16 1,039.66 0.00 1,039.66 1,135.82 1,135.82 91282CAW1 US Treasury Note 0.25% Due 11/15/2023 05/03/2021 05/03/2021 1,000,000.00 1,000,037.36 0.00 0.00 1,000,033.71 538.67 0.00 732.04 193.37 0.00 3.65 (3.65) 189.72 189.72 91282CBA8 US Treasury Note 0.125% Due 12/15/2023 10/07/2021 10/07/2021 1,200,000.00 1,197,844.29 0.00 0.00 1,198,034.70 197.80 0.00 313.19 115.39 190.41 0.00 190.41 305.80 305.80 91282CBQ3 US Treasury Note 0.5% Due 02/28/2026 07/15/2022 07/15/2022 500,000.00 462,543.91 0.00 0.00 463,477.81 1,063.54 1,250.00 6.79 193.25 933.90 0.00 933.90 1,127.15 1,127.15 91282CBV2 US Treasury Note 0.375% Due 04/15/2024 05/03/2021 05/03/2021 1,000,000.00 1,000,478.59 0.00 0.00 1,000,448.07 1,122.94 0.00 1,411.40 288.46 0.00 30.52 (30.52) 257.94 257.94 91282CBW0 US Treasury Note 0.75% Due 04/30/2026 09/30/2022 09/30/2022 500,000.00 448,942.65 0.00 0.00 450,150.09 963.40 0.00 1,253.45 290.05 1,207.44 0.00 1,207.44 1,497.49 1,497.49 91282CCC3 US Treasury Note 0.25% Due 05/15/2024 05/17/2021 05/17/2021 1,000,000.00 998,661.74 0.00 0.00 998,741.64 538.67 0.00 732.04 193.37 79.90 0.00 79.90 273.27 273.27 91282CCJ8 US Treasury Note 0.875% Due 06/30/2026 09/30/2022 09/30/2022 500,000.00 448,704.39 0.00 0.00 449,858.03 386.74 0.00 725.14 338.40 1,153.64 0.00 1,153.64 1,492.04 1,492.04 91282CCK5 US Treasury Note 0.125% Due 06/30/2023 01/13/2022 01/13/2022 800,000.00 798,000.22 0.00 0.00 798,376.02 88.40 0.00 165.75 77.35 375.80 0.00 375.80 453.15 453.15 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 16 Income Earned As of February 28, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 91282CCN9 US Treasury Note 0.125% Due 07/31/2023 01/13/2022 01/13/2022 1,000,000.00 996,747.25 0.00 0.00 997,253.23 3.45 0.00 100.14 96.69 505.98 0.00 505.98 602.67 602.67 91282CGC9 US Treasury Note 3.875% Due 12/31/2027 02/06/2023 02/07/2023 1,000,000.00 0.00 1,001,445.31 0.00 1,001,427.53 0.00 (4,067.68) 6,422.65 2,354.97 0.00 17.78 (17.78) 2,337.19 2,337.19 91282CGE5 US Treasury Note 3.875% Due 01/15/2026 02/06/2023 02/07/2023 1,000,000.00 0.00 992,929.69 0.00 993,074.65 0.00 (2,462.02) 4,816.99 2,354.97 144.96 0.00 144.96 2,499.93 2,499.93 931142DH3 Wal-Mart Stores Callable Note Cont 1/11/2023 2.55% Due 04/11/2023 09/19/2019 09/19/2019 500,000.00 500,485.92 0.00 0.00 500,288.73 3,895.83 0.00 4,958.33 1,062.50 0.00 197.19 (197.19) 865.31 865.31 Total Fixed Income 43,945,000.00 41,184,341.48 5,168,777.88 2,450,000.00 43,889,823.76 207,511.92 83,984.06 187,545.46 64,017.60 10,371.34 23,666.94 (13,295.60) 50,722.00 50,722.00 CASH & EQUIVALENT 31846V807 First American Treasury MMF Class Y Various Various 999,796.03 4,000,710.52 2,191,006.25 5,191,920.74 999,796.03 0.00 11,494.99 0.00 11,494.99 0.00 0.00 0.00 11,494.99 11,494.99 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 17 Income Earned As of February 28, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 96130ASC3 Westpac Banking Corp NY Yankee CD 5.38% Due 02/16/2024 02/16/2023 02/17/2023 375,000.00 0.00 375,141.03 0.00 375,136.38 0.00 (56.04) 728.54 672.50 0.00 4.65 (4.65) 667.85 667.85 Total Cash & Equivalent 1,374,796.03 4,000,710.52 2,566,147.28 5,191,920.74 1,374,932.41 0.00 11,438.95 728.54 12,167.49 0.00 4.65 (4.65) 12,162.84 12,162.84 TOTAL PORTFOLIO 45,319,796.03 45,185,052.00 7,734,925.16 7,641,920.74 45,264,756.17 207,511.92 95,423.01 188,274.00 76,185.09 10,371.34 23,671.59 (13,300.25) 62,884.84 62,884.84 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 18 Cash Flow Report As of February 28, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/01/2023 Interest 713448CM8 500,000.00 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 3/1/2024 0.00 9,000.00 9,000.00 03/02/2023 Purchase 47800CAC0 680,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 -680,204.18 0.00 -680,204.18 03/02/2023 Sale 31846V807 680,204.18 First American Treasury MMF Class Y 680,204.18 0.00 680,204.18 03/05/2023 Interest 06051GHF9 500,000.00 Bank of America Corp Callable Note 1X 3/5/2023 3.55% Due 3/5/2024 0.00 8,875.00 8,875.00 03/12/2023 Interest 3130ATHT7 1,300,000.00 FHLB Note 4.375% Due 9/12/2025 0.00 25,909.72 25,909.72 03/12/2023 Interest 3135G0U43 1,000,000.00 FNMA Note 2.875% Due 9/12/2023 0.00 14,375.00 14,375.00 03/13/2023 Interest 46647PBH8 600,000.00 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 3/13/2026 0.00 6,015.00 6,015.00 03/15/2023 Maturity 912828ZD5 1,000,000.00 US Treasury Note 0.5% Due 3/15/2023 1,000,000.00 2,500.00 1,002,500.00 03/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 03/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 03/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 453.60 453.60 03/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 2,494.00 2,494.00 03/31/2023 Interest 91282CAM3 500,000.00 US Treasury Note 0.25% Due 9/30/2025 0.00 625.00 625.00 03/31/2023 Interest 9128282Y5 1,000,000.00 US Treasury Note 2.125% Due 9/30/2024 0.00 10,625.00 10,625.00 MAR 2023 1,000,000.00 83,546.98 1,083,546.98 04/11/2023 Maturity 931142DH3 500,000.00 Wal-Mart Stores Callable Note Cont 1/11/2023 2.55% Due 4/11/2023 500,000.00 6,375.00 506,375.00 04/15/2023 Interest 91282CBV2 1,000,000.00 US Treasury Note 0.375% Due 4/15/2024 0.00 1,875.00 1,875.00 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 19 Cash Flow Report As of February 28, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 04/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 04/20/2023 Maturity 3137EAEQ8 1,250,000.00 FHLMC Note 0.375% Due 4/20/2023 1,250,000.00 2,343.75 1,252,343.75 04/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 04/22/2023 Interest 3133EMWV0 1,000,000.00 FFCB Note 0.35% Due 4/22/2024 0.00 1,750.00 1,750.00 04/23/2023 Interest 46647PAP1 500,000.00 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 0.00 8,897.50 8,897.50 04/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 04/26/2023 Interest 3136G46B4 1,200,000.00 FNMA Callable Note Qtrly 01/26/2024 0.35% Due 4/26/2024 0.00 2,100.00 2,100.00 04/30/2023 Interest 912828YM6 1,000,000.00 US Treasury Note 1.5% Due 10/31/2024 0.00 7,500.00 7,500.00 04/30/2023 Interest 91282CBW0 500,000.00 US Treasury Note 0.75% Due 4/30/2026 0.00 1,875.00 1,875.00 APR 2023 1,750,000.00 37,765.41 1,787,765.41 05/03/2023 Maturity 037833AK6 500,000.00 Apple Inc Note 2.4% Due 5/3/2023 500,000.00 6,000.00 506,000.00 05/06/2023 Interest 3133EMYR7 1,000,000.00 FFCB Callable Note Cont 5/6/2022 0.375% Due 5/6/2024 0.00 1,875.00 1,875.00 05/10/2023 Maturity 02665WDH1 1,000,000.00 American Honda Finance Note 1.95% Due 5/10/2023 1,000,000.00 9,750.00 1,009,750.00 05/11/2023 Interest 166764BW9 700,000.00 Chevron Corp Callable Note Cont 4/11/2025 1.554% Due 5/11/2025 0.00 5,439.00 5,439.00 05/15/2023 Interest 91282CCC3 1,000,000.00 US Treasury Note 0.25% Due 5/15/2024 0.00 1,250.00 1,250.00 05/15/2023 Interest 91282CAW1 1,000,000.00 US Treasury Note 0.25% Due 11/15/2023 0.00 1,250.00 1,250.00 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 20 Cash Flow Report As of February 28, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/15/2023 Interest 717081DM2 500,000.00 Pfizer Inc. Note 3.4% Due 5/15/2024 0.00 8,500.00 8,500.00 05/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 05/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 05/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 05/24/2023 Interest 14912L5X5 1,000,000.00 Caterpillar Finance Serv Corp Note 3.75% Due 11/24/2023 0.00 18,750.00 18,750.00 05/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 05/31/2023 Interest 9128286X3 500,000.00 US Treasury Note 2.125% Due 5/31/2026 0.00 5,312.50 5,312.50 05/31/2023 Interest 9128285N6 500,000.00 US Treasury Note 2.875% Due 11/30/2025 0.00 7,187.50 7,187.50 05/31/2023 Interest 912828YV6 700,000.00 US Treasury Note 1.5% Due 11/30/2024 0.00 5,250.00 5,250.00 05/31/2023 Interest 912828U57 650,000.00 US Treasury Note 2.125% Due 11/30/2023 0.00 6,906.25 6,906.25 MAY 2023 1,500,000.00 82,519.41 1,582,519.41 06/05/2023 Interest 06051GHF9 500,000.00 Bank of America Corp Callable Note 1X 3/5/2023 3.55% Due 3/5/2024 0.00 7,399.24 7,399.24 06/12/2023 Interest 3130ATUC9 1,000,000.00 FHLB Note 4.5% Due 12/12/2025 0.00 27,375.00 27,375.00 06/15/2023 Interest 91282CBA8 1,200,000.00 US Treasury Note 0.125% Due 12/15/2023 0.00 750.00 750.00 06/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 06/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 06/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 21 Cash Flow Report As of February 28, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/23/2023 Interest 3130AMQQ8 1,000,000.00 FHLB Callable Note Qtrly 12/23/2021 0.35% Due 4/23/2024 0.00 1,750.00 1,750.00 06/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 06/30/2023 Interest 91282CGC9 1,000,000.00 US Treasury Note 3.875% Due 12/31/2027 0.00 19,375.00 19,375.00 06/30/2023 Interest 91282CCJ8 500,000.00 US Treasury Note 0.875% Due 6/30/2026 0.00 2,187.50 2,187.50 06/30/2023 Maturity 91282CCK5 800,000.00 US Treasury Note 0.125% Due 6/30/2023 800,000.00 500.00 800,500.00 JUN 2023 800,000.00 64,385.90 864,385.90 07/02/2023 Interest 3135G0V75 750,000.00 FNMA Note 1.75% Due 7/2/2024 0.00 6,562.50 6,562.50 07/11/2023 Interest 89236THU2 480,000.00 Toyota Motor Credit Corp Note 0.45% Due 1/11/2024 0.00 1,080.00 1,080.00 07/15/2023 Interest 91282CGE5 1,000,000.00 US Treasury Note 3.875% Due 1/15/2026 0.00 19,375.00 19,375.00 07/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 07/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 07/17/2023 Interest 24422EVN6 1,000,000.00 John Deere Capital Corp Note 0.45% Due 1/17/2024 0.00 2,250.00 2,250.00 07/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 07/23/2023 Interest 17325FAS7 500,000.00 Citibank Callable Note Cont 12/23/2023 3.65% Due 1/23/2024 0.00 9,125.00 9,125.00 07/23/2023 Interest 46647PAP1 500,000.00 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 0.00 6,269.81 6,269.81 07/23/2023 Interest 693475AV7 900,000.00 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 1/23/2024 0.00 15,750.00 15,750.00 07/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 22 Cash Flow Report As of February 28, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/31/2023 Maturity 91282CCN9 1,000,000.00 US Treasury Note 0.125% Due 7/31/2023 1,000,000.00 625.00 1,000,625.00 JUL 2023 1,000,000.00 66,086.47 1,066,086.47 08/05/2023 Interest 3135G0V34 600,000.00 FNMA Note 2.5% Due 2/5/2024 0.00 7,500.00 7,500.00 08/05/2023 Interest 91159HHV5 1,000,000.00 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 2/5/2024 0.00 16,875.00 16,875.00 08/12/2023 Interest 459200HU8 1,000,000.00 IBM Corp Note 3.625% Due 2/12/2024 0.00 18,125.00 18,125.00 08/14/2023 Interest 88579YBB6 500,000.00 3M Co. Callable Note Cont 1/14/2024 3.25% Due 2/14/2024 0.00 8,125.00 8,125.00 08/15/2023 Interest 912828D56 1,000,000.00 US Treasury Note 2.375% Due 8/15/2024 0.00 11,875.00 11,875.00 08/15/2023 Maturity 742718EB1 500,000.00 Procter & Gamble Co Note 3.1% Due 8/15/2023 500,000.00 7,750.00 507,750.00 08/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 08/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 08/21/2023 Interest 3133EPBF1 1,000,000.00 Federal Farm Credit Bank Note 4.875% Due 8/21/2024 0.00 24,375.00 24,375.00 08/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 08/25/2023 Maturity 89236THA6 700,000.00 Toyota Motor Credit Corp Note 1.35% Due 8/25/2023 700,000.00 4,725.00 704,725.00 08/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 08/31/2023 Interest 91282CAJ0 1,200,000.00 US Treasury Note 0.25% Due 8/31/2025 0.00 1,500.00 1,500.00 08/31/2023 Interest 91282CBQ3 500,000.00 US Treasury Note 0.5% Due 2/28/2026 0.00 1,250.00 1,250.00 08/31/2023 Maturity 9128282D1 1,250,000.00 US Treasury Note 1.375% Due 8/31/2023 1,250,000.00 8,593.75 1,258,593.75 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 23 Cash Flow Report As of February 28, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount AUG 2023 2,450,000.00 115,742.91 2,565,742.91 09/01/2023 Interest 713448CM8 500,000.00 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 3/1/2024 0.00 9,000.00 9,000.00 09/05/2023 Interest 06051GHF9 500,000.00 Bank of America Corp Callable Note 1X 3/5/2023 3.55% Due 3/5/2024 0.00 7,479.38 7,479.38 09/12/2023 Interest 3130ATHT7 1,300,000.00 FHLB Note 4.375% Due 9/12/2025 0.00 28,437.50 28,437.50 09/12/2023 Maturity 3135G0U43 1,000,000.00 FNMA Note 2.875% Due 9/12/2023 1,000,000.00 14,375.00 1,014,375.00 09/13/2023 Interest 46647PBH8 600,000.00 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 3/13/2026 0.00 6,015.00 6,015.00 09/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 09/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 09/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 09/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 09/30/2023 Interest 91282CAM3 500,000.00 US Treasury Note 0.25% Due 9/30/2025 0.00 625.00 625.00 09/30/2023 Interest 9128282Y5 1,000,000.00 US Treasury Note 2.125% Due 9/30/2024 0.00 10,625.00 10,625.00 SEP 2023 1,000,000.00 81,606.04 1,081,606.04 10/15/2023 Interest 91282CBV2 1,000,000.00 US Treasury Note 0.375% Due 4/15/2024 0.00 1,875.00 1,875.00 10/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 10/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 10/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 24 Cash Flow Report As of February 28, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 10/22/2023 Interest 3133EMWV0 1,000,000.00 FFCB Note 0.35% Due 4/22/2024 0.00 1,750.00 1,750.00 10/23/2023 Interest 46647PAP1 500,000.00 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 0.00 6,338.71 6,338.71 10/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 10/26/2023 Interest 3136G46B4 1,200,000.00 FNMA Callable Note Qtrly 01/26/2024 0.35% Due 4/26/2024 0.00 2,100.00 2,100.00 10/31/2023 Interest 912828YM6 1,000,000.00 US Treasury Note 1.5% Due 10/31/2024 0.00 7,500.00 7,500.00 10/31/2023 Interest 91282CBW0 500,000.00 US Treasury Note 0.75% Due 4/30/2026 0.00 1,875.00 1,875.00 OCT 2023 0.00 26,487.87 26,487.87 11/06/2023 Interest 3133EMYR7 1,000,000.00 FFCB Callable Note Cont 5/6/2022 0.375% Due 5/6/2024 0.00 1,875.00 1,875.00 11/11/2023 Interest 166764BW9 700,000.00 Chevron Corp Callable Note Cont 4/11/2025 1.554% Due 5/11/2025 0.00 5,439.00 5,439.00 11/15/2023 Interest 91282CCC3 1,000,000.00 US Treasury Note 0.25% Due 5/15/2024 0.00 1,250.00 1,250.00 11/15/2023 Interest 717081DM2 500,000.00 Pfizer Inc. Note 3.4% Due 5/15/2024 0.00 8,500.00 8,500.00 11/15/2023 Maturity 91282CAW1 1,000,000.00 US Treasury Note 0.25% Due 11/15/2023 1,000,000.00 1,250.00 1,001,250.00 11/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 11/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 11/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 11/24/2023 Maturity 14912L5X5 1,000,000.00 Caterpillar Finance Serv Corp Note 3.75% Due 11/24/2023 1,000,000.00 18,750.00 1,018,750.00 11/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 25 Cash Flow Report As of February 28, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/30/2023 Interest 9128285N6 500,000.00 US Treasury Note 2.875% Due 11/30/2025 0.00 7,187.50 7,187.50 11/30/2023 Interest 9128286X3 500,000.00 US Treasury Note 2.125% Due 5/31/2026 0.00 5,312.50 5,312.50 11/30/2023 Interest 912828YV6 700,000.00 US Treasury Note 1.5% Due 11/30/2024 0.00 5,250.00 5,250.00 11/30/2023 Maturity 912828U57 650,000.00 US Treasury Note 2.125% Due 11/30/2023 650,000.00 6,906.25 656,906.25 NOV 2023 2,650,000.00 66,769.41 2,716,769.41 12/05/2023 Interest 06051GHF9 500,000.00 Bank of America Corp Callable Note 1X 3/5/2023 3.55% Due 3/5/2024 0.00 7,398.09 7,398.09 12/12/2023 Interest 3130ATUC9 1,000,000.00 FHLB Note 4.5% Due 12/12/2025 0.00 22,500.00 22,500.00 12/15/2023 Maturity 91282CBA8 1,200,000.00 US Treasury Note 0.125% Due 12/15/2023 1,200,000.00 750.00 1,200,750.00 12/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 12/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 12/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 12/23/2023 Interest 3130AMQQ8 1,000,000.00 FHLB Callable Note Qtrly 12/23/2021 0.35% Due 4/23/2024 0.00 1,750.00 1,750.00 12/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 12/31/2023 Interest 91282CCJ8 500,000.00 US Treasury Note 0.875% Due 6/30/2026 0.00 2,187.50 2,187.50 12/31/2023 Interest 91282CGC9 1,000,000.00 US Treasury Note 3.875% Due 12/31/2027 0.00 19,375.00 19,375.00 DEC 2023 1,200,000.00 59,009.75 1,259,009.75 01/02/2024 Interest 3135G0V75 750,000.00 FNMA Note 1.75% Due 7/2/2024 0.00 6,562.50 6,562.50 01/11/2024 Maturity 89236THU2 480,000.00 Toyota Motor Credit Corp Note 0.45% Due 1/11/2024 480,000.00 1,080.00 481,080.00 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 26 Cash Flow Report As of February 28, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/15/2024 Interest 91282CGE5 1,000,000.00 US Treasury Note 3.875% Due 1/15/2026 0.00 19,375.00 19,375.00 01/15/2024 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 01/15/2024 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 01/17/2024 Maturity 24422EVN6 1,000,000.00 John Deere Capital Corp Note 0.45% Due 1/17/2024 1,000,000.00 2,250.00 1,002,250.00 01/21/2024 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 01/23/2024 Interest 46647PAP1 500,000.00 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 0.00 6,338.71 6,338.71 01/23/2024 Maturity 693475AV7 900,000.00 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 1/23/2024 900,000.00 15,750.00 915,750.00 01/23/2024 Maturity 17325FAS7 500,000.00 Citibank Callable Note Cont 12/23/2023 3.65% Due 1/23/2024 500,000.00 9,125.00 509,125.00 01/25/2024 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 JAN 2024 2,880,000.00 65,530.37 2,945,530.37 02/05/2024 Maturity 91159HHV5 1,000,000.00 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 2/5/2024 1,000,000.00 16,875.00 1,016,875.00 02/05/2024 Maturity 3135G0V34 600,000.00 FNMA Note 2.5% Due 2/5/2024 600,000.00 7,500.00 607,500.00 02/12/2024 Maturity 459200HU8 1,000,000.00 IBM Corp Note 3.625% Due 2/12/2024 1,000,000.00 18,125.00 1,018,125.00 02/14/2024 Maturity 88579YBB6 500,000.00 3M Co. Callable Note Cont 1/14/2024 3.25% Due 2/14/2024 500,000.00 8,125.00 508,125.00 02/15/2024 Interest 912828D56 1,000,000.00 US Treasury Note 2.375% Due 8/15/2024 0.00 11,875.00 11,875.00 02/15/2024 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 02/15/2024 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 27 Cash Flow Report As of February 28, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/16/2024 Maturity 96130ASC3 375,000.00 Westpac Banking Corp NY Yankee CD 5.38% Due 2/16/2024 375,000.00 20,455.21 395,455.21 02/21/2024 Interest 3133EPBF1 1,000,000.00 Federal Farm Credit Bank Note 4.875% Due 8/21/2024 0.00 24,375.00 24,375.00 02/21/2024 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 02/25/2024 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 FEB 2024 3,475,000.00 112,379.37 3,587,379.37 TOTAL 19,705,000.00 861,829.89 20,566,829.89 Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 28 Important DisclosuresCity of San Rafael Account #11045 Chandler Asset Management, Inc. ;͞Chandler͟Ϳis an SEC registered investment adviser. For additional information about our firm, please see our current disclosures (Form ADV). To obtain a copy of our current disclosures, you may contact your client service representative by calling the number on the front of this statement or you may visit our website at www.chandlerasset.com. Information contained in this monthly statement is confidential and is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of this statement, but may become outdated or superseded at any time without notice. Custody: Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account. Valuation: Prices are provided by IDC, an independent pricing source. In the event IDC does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A. Performance: Performance results are presented gross-of-advisory fees and represent the client ͛s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio. Source ice Data Indices, LLC ("ICE"), used with permission. ICE PERMITS USE OF THE ICE INDICES AND RELATED DATA ON AN "AS IS" BASIS; ICE, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM. NEITHER ICE DATA, ITS AFFILIATES OR THEIR RESPECTIVE THIRD PARTY PROVIDERS GUARANTEE THE QUALITY, ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN "AS IS" BASIS AND LICENSEE'S USE IS AT LICENSEE'S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE, OR RECOMMEND CHANDLER, OR ANY OF ITS PRODUCTS OR SERVICES. Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index. Ratings: Ratings information have been provided by Moody͛s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy. Security level ratings for U.S. Agency issued mortgage-backed securities ;͞MBS͟Ϳreflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P, Moody ͛s and Fitch respectively. Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 29 Benchmark Index & DisclosuresCity of San Rafael Account #11045 Benchmark Index Disclosure ICE BofA 1-3 Yr US Treasury & Agency Index The ICE BofA 1-3 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody ͛s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than three years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies. Execution Time: 3/2/2023 12:40:32 PMChandler Asset Management - CONFIDENTIAL Page 30 MONTHLY ACCOUNT STATEMENT City of San Rafael - Account #11045 MARCH 1, 2023 THROUGH MARCH 31, 2023 Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures. CHANDLER ASSET MANAGEMENT chandlerasset.com Chandler Team: For questions about your account, please call (800) 317-4747, or contact operations@chandlerasset.com Custodian US Bank Alexander Bazan (503) 402-5305 ACCOUNT SUMMARY Beg. Values as of 2/28/23 End Values as of 3/31/23 Market Value 43,870,229 44,363,095 Accrued Interest 188,274 176,617 Total Market Value 44,058,503 44,539,712 Income Earned 62,885 74,144 Cont/WD -3,543 Par 45,319,796 45,417,302 Book Value 45,264,756 45,281,141 Cost Value 45,752,021 45,672,423 TOP ISSUERS Government of United States 38.6% Federal Home Loan Bank 9.9% Federal National Mortgage Assoc 7.8% First American Treasury MMF Cla 6.7% Federal Farm Credit Bank 6.6% Toyota Motor Corp 2.6% JP Morgan Chase & Co 2.4% Honda Motor Corporation 2.3% Total 76.8% PORTFOLIO CHARACTERISTICS Average Modified Duration 1.30 Average Coupon 2.33% Average Purchase YTM 2.12% Average Market YTM 4.59% Average S&P/Moody Rating AA/Aa1 Average Final Maturity 1.46 yrs Average Life 1.37 yrs CREDIT QUALITY (S&P)MATURITY DISTRIBUTIONSECTOR ALLOCATION Portfolio Summary As of March 31, 2023 City of San Rafael Account #11045 PERFORMANCE REVIEW Annualized TOTAL RATE OF RETURN 1M 3M YTD 1YR 2YRS 3YRS 5YRS 10YRS 1/1/1900 City of San Rafael 1.10%N/A N/A N/A N/A N/A N/A N/A N/A ICE BofA 1-3 Yr US Treasury & Agency Index 1.60%1.55%1.55%0.19%-1.33%-0.81%1.11%0.82%N/A Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 1 Holdings Report As of March 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration ABS 05593AAC3 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 435,000.00 Various 5.11% 435,745.64 435,702.00 100.29 5.02% 436,268.03 374.10 0.98% 566.03 Aaa / AAA NR 2.66 1.51 43815JAC7 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 120,000.00 02/16/2023 5.10% 119,977.70 119,978.40 100.69 4.78% 120,822.96 168.00 0.27% 844.56 Aaa / NR AAA 4.06 2.19 58768PAC8 Mercedes-Benz Auto Receivables 2022- 1 A3 5.21% Due 8/16/2027 260,000.00 02/15/2023 5.02% 261,340.63 261,291.90 101.01 4.73% 262,637.18 602.04 0.59% 1,345.28 Aaa / AAA NR 4.38 1.86 89239HAD0 Toyota Auto Receivables Owner 20222- D A3 5.3% Due 9/15/2027 350,000.00 02/10/2023 4.82% 354,128.91 353,968.77 101.46 4.71% 355,105.45 824.44 0.80% 1,136.68 Aaa / NR AAA 4.46 2.22 47800CAC0 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 680,000.00 Various 5.05% 680,204.18 680,200.62 101.06 4.61% 687,184.28 2,744.37 1.55% 6,983.66 Aaa / NR AAA 4.63 2.30 Total ABS 1,845,000.00 5.02% 1,851,397.06 1,851,141.69 4.75% 1,862,017.90 4,712.95 4.19% 10,876.21 Aaa / AAA AAA 4.06 2.03 AGENCY 3135G0U43 FNMA Note 2.875% Due 9/12/2023 1,000,000.00 09/26/2019 1.63% 1,047,553.22 1,005,389.58 99.10 4.93% 990,969.00 1,517.36 2.23% (14,420.58) Aaa / AA+ AAA 0.45 0.44 3135G0V34 FNMA Note 2.5% Due 2/5/2024 600,000.00 10/24/2019 1.64% 621,262.80 604,211.80 98.10 4.82% 588,590.40 2,333.33 1.33% (15,621.40) Aaa / AA+ AAA 0.85 0.82 3133EMWV0 FFCB Note 0.35% Due 4/22/2024 1,000,000.00 05/03/2021 0.35% 1,000,000.00 1,000,000.00 95.78 4.47% 957,823.00 1,545.83 2.15% (42,177.00) Aaa / AA+ AAA 1.06 1.03 3130AMQQ8 FHLB Callable Note Qtrly 12/23/2021 0.35% Due 4/23/2024 1,000,000.00 06/23/2021 0.35% 1,000,000.00 1,000,000.00 95.45 4.78% 954,518.00 952.78 2.15% (45,482.00) Aaa / AA+ NR 1.07 1.04 3136G46B4 FNMA Callable Note Qtrly 01/26/2024 0.35% Due 4/26/2024 1,200,000.00 10/30/2020 0.36% 1,199,700.00 1,199,907.93 95.42 4.79% 1,145,094.00 1,808.33 2.58% (54,813.93) Aaa / AA+ AAA 1.07 1.04 3133EMYR7 FFCB Callable Note Cont 5/6/2022 0.375% Due 5/6/2024 1,000,000.00 05/06/2021 0.38% 1,000,000.00 1,000,000.00 95.36 4.76% 953,611.00 1,510.42 2.14% (46,389.00) Aaa / AA+ AAA 1.10 1.07 3135G0V75 FNMA Note 1.75% Due 7/2/2024 750,000.00 11/05/2019 1.65% 753,426.75 750,922.66 96.48 4.67% 723,603.00 3,244.79 1.63% (27,319.66) Aaa / AA+ AAA 1.26 1.21 3133EPBF1 Federal Farm Credit Bank Note 4.875% Due 8/21/2024 1,000,000.00 02/15/2023 4.98% 998,490.00 998,597.66 100.26 4.67% 1,002,620.00 5,416.67 2.26% 4,022.34 Aaa / AA+ AAA 1.39 1.32 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 2 Holdings Report As of March 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration AGENCY 3130AV7L0 Federal Home Loan Bank Note 5% Due 2/28/2025 1,100,000.00 03/02/2023 5.07% 1,098,548.00 1,098,605.84 101.32 4.27% 1,114,485.90 4,277.78 2.51% 15,880.06 Aaa / AA+ AAA 1.92 1.80 3130ATHT7 FHLB Note 4.375% Due 9/12/2025 1,300,000.00 10/06/2022 4.29% 1,303,159.00 1,302,637.41 100.72 4.06% 1,309,318.40 3,001.74 2.95% 6,680.99 Aaa / AA+ NR 2.45 2.30 3130ATUC9 FHLB Note 4.5% Due 12/12/2025 1,000,000.00 02/13/2023 4.32% 1,004,720.00 1,004,509.61 100.75 4.20% 1,007,486.00 18,500.00 2.30% 2,976.39 Aaa / AA+ NR 2.70 2.47 Total Agency 10,950,000.00 2.36% 11,026,859.77 10,964,782.49 4.56% 10,748,118.70 44,109.03 24.23% (216,663.79) Aaa / AA+ AAA 1.46 1.38 CORPORATE 037833AK6 Apple Inc Note 2.4% Due 5/3/2023 500,000.00 09/19/2019 2.00% 506,880.00 500,166.54 99.82 4.44% 499,079.50 4,933.33 1.13% (1,087.04) Aaa / AA+ NR 0.09 0.09 02665WDH1 American Honda Finance Note 1.95% Due 5/10/2023 1,000,000.00 05/05/2021 0.38% 1,031,510.00 1,001,671.96 99.67 4.94% 996,739.00 7,637.50 2.26% (4,932.96) A3 / A- A 0.11 0.11 89236THA6 Toyota Motor Credit Corp Note 1.35% Due 8/25/2023 700,000.00 04/23/2021 0.43% 714,959.00 702,557.39 98.36 5.54% 688,494.10 945.00 1.55% (14,063.29) A1 / A+ A+ 0.40 0.39 14912L5X5 Caterpillar Finance Serv Corp Note 3.75% Due 11/24/2023 1,000,000.00 05/05/2021 0.35% 1,086,390.00 1,021,944.73 98.96 5.40% 989,583.00 13,229.17 2.25% (32,361.73) A2 / A A 0.65 0.62 89236THU2 Toyota Motor Credit Corp Note 0.45% Due 1/11/2024 480,000.00 09/27/2021 0.51% 479,342.40 479,775.82 96.46 5.15% 463,019.52 480.00 1.04% (16,756.30) A1 / A+ A+ 0.78 0.76 24422EVN6 John Deere Capital Corp Note 0.45% Due 1/17/2024 1,000,000.00 05/05/2021 0.40% 1,001,230.00 1,000,362.64 96.67 4.77% 966,708.00 925.00 2.17% (33,654.64) A2 / A A+ 0.80 0.77 693475AV7 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 1/23/2024 900,000.00 07/29/2019 1.99% 957,939.00 910,499.01 98.12 5.90% 883,073.70 5,950.00 2.00% (27,425.31) A3 / A- A 0.82 0.78 17325FAS7 Citibank Callable Note Cont 12/23/2023 3.65% Due 1/23/2024 500,000.00 05/19/2021 0.53% 541,470.00 512,580.79 98.63 5.39% 493,142.50 3,447.22 1.11% (19,438.29) Aa3 / A+ A+ 0.82 0.78 91159HHV5 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 2/5/2024 1,000,000.00 05/04/2021 0.48% 1,079,130.00 1,024,359.78 98.09 5.72% 980,921.00 5,250.00 2.21% (43,438.78) A2 / A+ A+ 0.85 0.81 88579YBB6 3M Co. Callable Note Cont 1/14/2024 3.25% Due 2/14/2024 500,000.00 02/17/2021 0.43% 541,935.00 512,250.24 98.77 4.70% 493,857.50 2,121.53 1.11% (18,392.74) A1 / A NR 0.88 0.84 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 3 Holdings Report As of March 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration CORPORATE 713448CM8 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 3/1/2024 500,000.00 06/23/2021 0.78% 537,465.00 512,780.83 98.87 4.88% 494,331.00 1,500.00 1.11% (18,449.83) A1 / A+ NR 0.92 0.89 46647PAP1 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 500,000.00 02/18/2021 1.87% 534,240.00 511,452.69 99.89 5.08% 499,425.50 7,810.03 1.14% (12,027.19) A1 / A- AA- 1.07 0.94 717081DM2 Pfizer Inc. Note 3.4% Due 5/15/2024 500,000.00 09/27/2021 0.55% 537,160.00 515,853.90 98.64 4.65% 493,217.00 6,422.22 1.12% (22,636.90) A1 / A+ A 1.13 1.07 166764BW9 Chevron Corp Callable Note Cont 4/11/2025 1.554% Due 5/11/2025 700,000.00 05/12/2022 3.20% 667,380.00 677,031.95 94.30 4.41% 660,105.60 4,230.33 1.49% (16,926.35) Aa2 / AA- NR 2.12 2.03 46647PBH8 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 3/13/2026 600,000.00 04/05/2022 4.14% 577,518.00 583,161.95 94.24 5.14% 565,469.40 601.50 1.27% (17,692.55) A1 / A- AA- 2.95 1.87 69371RS49 Paccar Financial Corp Note 4.45% Due 3/30/2026 600,000.00 03/28/2023 4.47% 599,634.00 599,634.67 100.05 4.43% 600,300.60 74.17 1.35% 665.93 A1 / A+ NR 3.00 2.78 00440EAV9 Chubb INA Holdings Inc Callable Note Cont 2/3/2026 3.35% Due 5/3/2026 500,000.00 03/09/2023 5.09% 475,060.00 475,473.13 96.72 4.50% 483,576.50 6,886.11 1.10% 8,103.37 A3 / A A 3.09 2.85 Total Corporate 11,480,000.00 1.46% 11,869,242.40 11,541,558.02 5.06% 11,251,043.42 72,443.11 25.42% (290,514.60) A1 / A A+ 1.11 1.00 MONEY MARKET FUND 31846V807 First American Treasury MMF Class Y 2,967,302.09 Various 4.40% 2,967,302.09 2,967,302.09 1.00 4.40% 2,967,302.09 0.00 6.66% 0.00 Aaa / AA+ AAA 0.00 0.00 Total Money Market Fund 2,967,302.09 4.40% 2,967,302.09 2,967,302.09 4.40% 2,967,302.09 0.00 6.66% 0.00 Aaa / AA+ AAA 0.00 0.00 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 4 Holdings Report As of March 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration NEGOTIABLE CD 96130ASC3 Westpac Banking Corp NY Yankee CD 5.38% Due 2/16/2024 375,000.00 02/16/2023 5.34% 375,141.03 375,124.37 100.06 5.28% 375,224.25 2,465.83 0.85% 99.88 P-1 / A-1+ F-1 0.88 0.86 Total Negotiable CD 375,000.00 5.34% 375,141.03 375,124.37 5.28% 375,224.25 2,465.83 0.85% 99.88 P-1 / A-1+ F-1 0.88 0.86 US TREASURY 91282CCK5 US Treasury Note 0.125% Due 6/30/2023 800,000.00 01/13/2022 0.74% 792,846.43 798,792.08 98.91 4.51% 791,276.00 251.38 1.78% (7,516.08) Aaa / AA+ AAA 0.25 0.25 91282CCN9 US Treasury Note 0.125% Due 7/31/2023 1,000,000.00 01/13/2022 0.79% 989,808.04 997,813.43 98.49 4.68% 984,883.00 207.18 2.21% (12,930.43) Aaa / AA+ AAA 0.33 0.33 9128282D1 US Treasury Note 1.375% Due 8/31/2023 1,250,000.00 12/23/2021 0.61% 1,265,970.98 1,253,940.89 98.63 4.73% 1,232,861.25 1,494.57 2.77% (21,079.64) Aaa / AA+ AAA 0.42 0.41 91282CAW1 US Treasury Note 0.25% Due 11/15/2023 1,000,000.00 05/03/2021 0.25% 1,000,120.54 1,000,029.68 97.25 4.77% 972,539.00 946.13 2.19% (27,490.68) Aaa / AA+ AAA 0.63 0.61 912828U57 US Treasury Note 2.125% Due 11/30/2023 650,000.00 10/31/2019 1.67% 661,529.52 651,879.06 98.32 4.71% 639,081.95 4,629.46 1.45% (12,797.11) Aaa / AA+ AAA 0.67 0.65 91282CBA8 US Treasury Note 0.125% Due 12/15/2023 1,200,000.00 10/07/2021 0.33% 1,194,566.52 1,198,245.51 96.86 4.68% 1,162,359.60 440.93 2.61% (35,885.91) Aaa / AA+ AAA 0.71 0.69 91282CBV2 US Treasury Note 0.375% Due 4/15/2024 1,000,000.00 05/03/2021 0.33% 1,001,175.22 1,000,414.27 95.71 4.64% 957,148.00 1,730.77 2.15% (43,266.27) Aaa / AA+ AAA 1.04 1.01 91282CCC3 US Treasury Note 0.25% Due 5/15/2024 1,000,000.00 05/17/2021 0.35% 996,878.35 998,830.09 95.36 4.53% 953,594.00 946.13 2.14% (45,236.09) Aaa / AA+ AAA 1.13 1.10 912828D56 US Treasury Note 2.375% Due 8/15/2024 1,000,000.00 12/28/2021 0.91% 1,038,011.16 1,019,855.99 97.34 4.39% 973,359.00 2,952.35 2.19% (46,496.99) Aaa / AA+ AAA 1.38 1.33 9128282Y5 US Treasury Note 2.125% Due 9/30/2024 1,000,000.00 08/25/2021 0.44% 1,051,800.23 1,025,076.44 96.85 4.32% 968,477.00 58.06 2.17% (56,599.44) Aaa / AA+ AAA 1.50 1.45 912828YM6 US Treasury Note 1.5% Due 10/31/2024 1,000,000.00 12/28/2021 0.97% 1,014,925.23 1,008,325.35 95.80 4.27% 957,969.00 6,298.34 2.16% (50,356.35) Aaa / AA+ AAA 1.59 1.53 912828YV6 US Treasury Note 1.5% Due 11/30/2024 700,000.00 09/10/2021 0.48% 722,889.06 711,843.19 95.64 4.23% 669,484.20 3,519.23 1.51% (42,358.99) Aaa / AA+ AAA 1.67 1.61 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 5 Holdings Report As of March 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Par Value/Units Purchase Date Book Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody/S&P Fitch Maturity Duration US TREASURY 91282CAJ0 US Treasury Note 0.25% Due 8/31/2025 1,200,000.00 06/30/2022 3.15% 1,095,937.50 1,120,650.10 91.61 3.93% 1,099,266.00 260.87 2.47% (21,384.10) Aaa / AA+ AAA 2.42 2.36 91282CAM3 US Treasury Note 0.25% Due 9/30/2025 500,000.00 07/15/2022 3.12% 456,445.31 466,099.38 91.51 3.84% 457,558.50 3.42 1.03% (8,540.88) Aaa / AA+ AAA 2.50 2.45 9128285N6 US Treasury Note 2.875% Due 11/30/2025 500,000.00 07/15/2022 3.11% 496,212.61 497,010.60 97.47 3.88% 487,344.00 4,817.99 1.10% (9,666.60) Aaa / AA+ AAA 2.67 2.51 91282CGE5 US Treasury Note 3.875% Due 1/15/2026 1,000,000.00 02/06/2023 4.13% 992,929.69 993,278.92 100.03 3.86% 1,000,313.00 8,135.36 2.26% 7,034.08 Aaa / AA+ AAA 2.80 2.60 91282CBQ3 US Treasury Note 0.5% Due 2/28/2026 500,000.00 07/15/2022 3.09% 455,839.84 464,511.77 90.89 3.83% 454,433.50 217.39 1.02% (10,078.27) Aaa / AA+ AAA 2.92 2.84 91282CBW0 US Treasury Note 0.75% Due 4/30/2026 500,000.00 09/30/2022 4.17% 443,595.43 451,486.90 91.16 3.82% 455,820.50 1,574.59 1.03% 4,333.60 Aaa / AA+ AAA 3.08 2.98 9128286X3 US Treasury Note 2.125% Due 5/31/2026 500,000.00 09/30/2022 4.14% 465,958.71 470,611.10 95.04 3.80% 475,195.50 3,561.13 1.07% 4,584.40 Aaa / AA+ AAA 3.17 3.00 91282CCJ8 US Treasury Note 0.875% Due 6/30/2026 500,000.00 09/30/2022 4.15% 443,595.43 451,135.27 91.18 3.78% 455,918.00 1,099.79 1.03% 4,782.73 Aaa / AA+ AAA 3.25 3.14 91282CGC9 US Treasury Note 3.875% Due 12/31/2027 1,000,000.00 02/06/2023 3.84% 1,001,445.31 1,001,402.47 101.05 3.63% 1,010,508.00 9,741.02 2.29% 9,105.53 Aaa / AA+ AAA 4.76 4.27 Total US Treasury 17,800,000.00 1.64% 17,582,481.11 17,581,232.49 4.30% 17,159,389.00 52,886.09 38.64% (421,843.49) Aaa / AA+ AAA 1.68 1.60 TOTAL PORTFOLIO 45,417,302.09 2.12% 45,672,423.46 45,281,141.15 4.59% 44,363,095.36 176,617.01 100.00% (918,045.79) Aa1 / AA AAA 1.46 1.30 TOTAL MARKET VALUE PLUS ACCRUED 44,539,712.37 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 6 Transaction Ledger As of March 31, 2023 City of San Rafael Account #11045 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Purchase 03/01/2023 31846V807 9,000.00 First American Treasury MMF Class Y 1.000 4.17%9,000.00 0.00 9,000.00 0.00 Purchase 03/01/2023 31846V807 7,120.59 First American Treasury MMF Class Y 1.000 4.17%7,120.59 0.00 7,120.59 0.00 Purchase 03/02/2023 47800CAC0 230,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 99.982 5.07%229,958.09 0.00 229,958.09 0.00 Purchase 03/02/2023 47800CAC0 450,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 100.055 5.04%450,246.09 0.00 450,246.09 0.00 Purchase 03/03/2023 3130AV7L0 1,100,000.00 Federal Home Loan Bank Note 5% Due 2/28/2025 99.868 5.07%1,098,548.00 0.00 1,098,548.00 0.00 Purchase 03/03/2023 31846V807 145,846.27 First American Treasury MMF Class Y 1.000 4.17%145,846.27 0.00 145,846.27 0.00 Purchase 03/05/2023 31846V807 8,875.00 First American Treasury MMF Class Y 1.000 4.17%8,875.00 0.00 8,875.00 0.00 Purchase 03/05/2023 31846V807 500,000.00 First American Treasury MMF Class Y 1.000 4.17%500,000.00 0.00 500,000.00 0.00 Purchase 03/12/2023 31846V807 40,284.72 First American Treasury MMF Class Y 1.000 4.17%40,284.72 0.00 40,284.72 0.00 Purchase 03/13/2023 00440EAV9 500,000.00 Chubb INA Holdings Inc Callable Note Cont 2/3/2026 3.35% Due 5/3/2026 95.012 5.09%475,060.00 6,048.61 481,108.61 0.00 Purchase 03/13/2023 31846V807 23,019.72 First American Treasury MMF Class Y 1.000 4.17%23,019.72 0.00 23,019.72 0.00 Purchase 03/13/2023 31846V807 6,015.00 First American Treasury MMF Class Y 1.000 4.17%6,015.00 0.00 6,015.00 0.00 Purchase 03/15/2023 31846V807 1,000,000.00 First American Treasury MMF Class Y 1.000 4.17%1,000,000.00 0.00 1,000,000.00 0.00 Purchase 03/15/2023 31846V807 2,500.00 First American Treasury MMF Class Y 1.000 4.17%2,500.00 0.00 2,500.00 0.00 Purchase 03/15/2023 31846V807 1,545.83 First American Treasury MMF Class Y 1.000 4.17%1,545.83 0.00 1,545.83 0.00 Purchase 03/15/2023 31846V807 1,128.83 First American Treasury MMF Class Y 1.000 4.17%1,128.83 0.00 1,128.83 0.00 Purchase 03/21/2023 31846V807 453.60 First American Treasury MMF Class Y 1.000 4.17%453.60 0.00 453.60 0.00 Purchase 03/27/2023 31846V807 2,494.00 First American Treasury MMF Class Y 1.000 4.17%2,494.00 0.00 2,494.00 0.00 Purchase 03/29/2023 31846V807 500,149.44 First American Treasury MMF Class Y 1.000 4.17%500,149.44 0.00 500,149.44 0.00 Purchase 03/30/2023 69371RS49 600,000.00 Paccar Financial Corp Note 4.45% Due 3/30/2026 99.939 4.47%599,634.00 0.00 599,634.00 0.00 Purchase 03/31/2023 31846V807 991,204.03 First American Treasury MMF Class Y 1.000 4.40%991,204.03 0.00 991,204.03 0.00 Purchase 03/31/2023 31846V807 11,250.00 First American Treasury MMF Class Y 1.000 4.40%11,250.00 0.00 11,250.00 0.00 Subtotal 6,130,887.03 6,104,333.21 6,048.61 6,110,381.82 0.00 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 7 Transaction Ledger As of March 31, 2023 City of San Rafael Account #11045 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss ACQUISITIONS Security Contribution 03/10/2023 31846V807 64.82 First American Treasury MMF Class Y 1.000 64.82 0.00 64.82 0.00 Subtotal 64.82 64.82 0.00 64.82 0.00 TOTAL ACQUISITIONS 6,130,951.85 6,104,398.03 6,048.61 6,110,446.64 0.00 DISPOSITIONS Sale 03/02/2023 31846V807 229,958.09 First American Treasury MMF Class Y 1.000 4.17%229,958.09 0.00 229,958.09 0.00 Sale 03/02/2023 31846V807 450,246.09 First American Treasury MMF Class Y 1.000 4.17%450,246.09 0.00 450,246.09 0.00 Sale 03/03/2023 3137EAEQ8 1,250,000.00 FHLMC Note 0.375% Due 4/20/2023 99.413 4.89%1,242,662.50 1,731.77 1,244,394.27 -7,160.98 Sale 03/13/2023 931142DH3 500,000.00 Wal-Mart Stores Callable Note Cont 1/11/2023 2.55% Due 4/11/2023 99.749 5.73%498,745.00 5,383.33 504,128.33 -1,459.23 Sale 03/29/2023 742718EB1 500,000.00 Procter & Gamble Co Note 3.1% Due 8/15/2023 99.651 4.02%498,255.00 1,894.44 500,149.44 -6,415.67 Sale 03/30/2023 31846V807 599,634.00 First American Treasury MMF Class Y 1.000 4.40%599,634.00 0.00 599,634.00 0.00 Sale 03/31/2023 459200HU8 1,000,000.00 IBM Corp Note 3.625% Due 2/12/2024 98.627 5.27%986,270.00 4,934.03 991,204.03 -41,009.57 Subtotal 4,529,838.18 4,505,770.68 13,943.57 4,519,714.25 -56,045.45 Call 03/05/2023 06051GHF9 500,000.00 Bank of America Corp Callable Note 1X 3/5/2023Due 3/5/2024 100.000 5.71%500,000.00 0.00 500,000.00 -9,827.78 Subtotal 500,000.00 500,000.00 0.00 500,000.00 -9,827.78 Paydown 03/15/2023 58768PAC8 0.00 Mercedes-Benz Auto Receivables 2022- 1 A3 5.21% Due 8/16/2027 100.000 0.00 1,128.83 1,128.83 0.00 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 8 Transaction Ledger As of March 31, 2023 City of San Rafael Account #11045 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss DISPOSITIONS Paydown 03/15/2023 89239HAD0 0.00 Toyota Auto Receivables Owner 20222- D A3 5.3% Due 9/15/2027 100.000 0.00 1,545.83 1,545.83 0.00 Paydown 03/21/2023 43815JAC7 0.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 100.000 0.00 453.60 453.60 0.00 Paydown 03/27/2023 05593AAC3 0.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 100.000 0.00 2,494.00 2,494.00 0.00 Subtotal 0.00 0.00 5,622.26 5,622.26 0.00 Maturity 03/15/2023 912828ZD5 1,000,000.00 US Treasury Note 0.5% Due 3/15/2023 100.000 1,000,000.00 0.00 1,000,000.00 0.00 Subtotal 1,000,000.00 1,000,000.00 0.00 1,000,000.00 0.00 Security Withdrawal 03/06/2023 31846V807 3,357.61 First American Treasury MMF Class Y 1.000 3,357.61 0.00 3,357.61 0.00 Security Withdrawal 03/27/2023 31846V807 250.00 First American Treasury MMF Class Y 1.000 250.00 0.00 250.00 0.00 Subtotal 3,607.61 3,607.61 0.00 3,607.61 0.00 TOTAL DISPOSITIONS 6,033,445.79 6,009,378.29 19,565.83 6,028,944.12 -65,873.23 OTHER TRANSACTIONS Interest 03/01/2023 713448CM8 500,000.00 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 3/1/2024 0.000 9,000.00 0.00 9,000.00 0.00 Interest 03/05/2023 06051GHF9 500,000.00 Bank of America Corp Callable Note 1X 3/5/2023Due 3/5/2024 0.000 8,875.00 0.00 8,875.00 0.00 Interest 03/12/2023 3130ATHT7 1,300,000.00 FHLB Note 4.375% Due 9/12/2025 0.000 25,909.72 0.00 25,909.72 0.00 Interest 03/12/2023 3135G0U43 1,000,000.00 FNMA Note 2.875% Due 9/12/2023 0.000 14,375.00 0.00 14,375.00 0.00 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 9 Transaction Ledger As of March 31, 2023 City of San Rafael Account #11045 Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/Sold Total Amount Gain/Loss OTHER TRANSACTIONS Interest 03/13/2023 46647PBH8 600,000.00 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 3/13/2026 0.000 6,015.00 0.00 6,015.00 0.00 Interest 03/15/2023 912828ZD5 1,000,000.00 US Treasury Note 0.5% Due 3/15/2023 0.000 2,500.00 0.00 2,500.00 0.00 Interest 03/31/2023 9128282Y5 1,000,000.00 US Treasury Note 2.125% Due 9/30/2024 0.000 10,625.00 0.00 10,625.00 0.00 Interest 03/31/2023 91282CAM3 500,000.00 US Treasury Note 0.25% Due 9/30/2025 0.000 625.00 0.00 625.00 0.00 Subtotal 6,400,000.00 77,924.72 0.00 77,924.72 0.00 Dividend 03/01/2023 31846V807 328,591.85 First American Treasury MMF Class Y 0.000 7,120.59 0.00 7,120.59 0.00 Subtotal 328,591.85 7,120.59 0.00 7,120.59 0.00 TOTAL OTHER TRANSACTIONS 6,728,591.85 85,045.31 0.00 85,045.31 0.00 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 10 Income Earned As of March 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income FIXED INCOME 00440EAV9 Chubb INA Holdings Inc Callable Note Cont 2/3/2026 3.35% Due 05/03/2026 03/09/2023 03/13/2023 500,000.00 0.00 475,060.00 0.00 475,473.13 0.00 (6,048.61) 6,886.11 837.50 413.13 0.00 413.13 1,250.63 1,250.63 02665WDH1 American Honda Finance Note 1.95% Due 05/10/2023 05/05/2021 05/05/2021 1,000,000.00 1,003,000.95 0.00 0.00 1,001,671.96 6,012.50 0.00 7,637.50 1,625.00 0.00 1,328.99 (1,328.99) 296.01 296.01 037833AK6 Apple Inc Note 2.4% Due 05/03/2023 09/19/2019 09/19/2019 500,000.00 500,327.87 0.00 0.00 500,166.54 3,933.33 0.00 4,933.33 1,000.00 0.00 161.33 (161.33) 838.67 838.67 05593AAC3 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 Various 02/15/2023 435,000.00 435,732.07 0.00 0.00 435,702.00 997.60 2,494.00 374.10 1,870.50 0.05 30.12 (30.07) 1,840.43 1,840.43 06051GHF9 Bank of America Corp Callable Note 1X 3/5/2023 Due 03/05/2024 07/21/2020 07/21/2020 0.00 509,935.19 0.00 509,827.78 0.00 8,677.78 8,875.00 0.00 197.22 0.00 107.41 (107.41) 89.81 89.81 14912L5X5 Caterpillar Finance Serv Corp Note 3.75% Due 11/24/2023 05/05/2021 05/05/2021 1,000,000.00 1,024,815.13 0.00 0.00 1,021,944.73 10,104.17 0.00 13,229.17 3,125.00 0.00 2,870.40 (2,870.40) 254.60 254.60 166764BW9 Chevron Corp Callable Note Cont 4/11/2025 1.554% Due 05/11/2025 05/12/2022 05/12/2022 700,000.00 676,108.46 0.00 0.00 677,031.95 3,323.83 0.00 4,230.33 906.50 923.49 0.00 923.49 1,829.99 1,829.99 17325FAS7 Citibank Callable Note Cont 12/23/2023 3.65% Due 01/23/2024 05/19/2021 05/19/2021 500,000.00 513,893.93 0.00 0.00 512,580.79 1,926.39 0.00 3,447.22 1,520.83 0.00 1,313.14 (1,313.14) 207.69 207.69 24422EVN6 John Deere Capital Corp Note 0.45% Due 01/17/2024 05/05/2021 05/05/2021 1,000,000.00 1,000,401.28 0.00 0.00 1,000,362.64 550.00 0.00 925.00 375.00 0.00 38.64 (38.64) 336.36 336.36 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 11 Income Earned As of March 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 3130AMQQ8 FHLB Callable Note Qtrly 12/23/2021 0.35% Due 04/23/2024 06/23/2021 06/23/2021 1,000,000.00 1,000,000.00 0.00 0.00 1,000,000.00 661.11 0.00 952.78 291.67 0.00 0.00 0.00 291.67 291.67 3130ATHT7 FHLB Note 4.375% Due 09/12/2025 10/06/2022 10/06/2022 1,300,000.00 1,302,728.76 0.00 0.00 1,302,637.41 24,171.88 25,909.72 3,001.74 4,739.58 0.00 91.35 (91.35) 4,648.23 4,648.23 3130ATUC9 FHLB Note 4.5% Due 12/12/2025 02/13/2023 02/14/2023 1,000,000.00 1,004,651.40 0.00 0.00 1,004,509.61 14,750.00 0.00 18,500.00 3,750.00 0.00 141.79 (141.79) 3,608.21 3,608.21 3130AV7L0 Federal Home Loan Bank Note 5% Due 02/28/2025 03/02/2023 03/03/2023 1,100,000.00 0.00 1,098,548.00 0.00 1,098,605.84 0.00 0.00 4,277.78 4,277.78 57.84 0.00 57.84 4,335.62 4,335.62 3133EMWV0 FFCB Note 0.35% Due 04/22/2024 05/03/2021 05/03/2021 1,000,000.00 1,000,000.00 0.00 0.00 1,000,000.00 1,254.17 0.00 1,545.83 291.66 0.00 0.00 0.00 291.66 291.66 3133EMYR7 FFCB Callable Note Cont 5/6/2022 0.375% Due 05/06/2024 05/06/2021 05/06/2021 1,000,000.00 1,000,000.00 0.00 0.00 1,000,000.00 1,197.92 0.00 1,510.42 312.50 0.00 0.00 0.00 312.50 312.50 3133EPBF1 Federal Farm Credit Bank Note 4.875% Due 08/21/2024 02/15/2023 02/21/2023 1,000,000.00 998,512.08 0.00 0.00 998,597.66 1,354.17 0.00 5,416.67 4,062.50 85.58 0.00 85.58 4,148.08 4,148.08 3135G0U43 FNMA Note 2.875% Due 09/12/2023 09/26/2019 09/26/2019 1,000,000.00 1,006,408.35 0.00 0.00 1,005,389.58 13,496.53 14,375.00 1,517.36 2,395.83 0.00 1,018.77 (1,018.77) 1,377.06 1,377.06 3135G0V34 FNMA Note 2.5% Due 02/05/2024 10/24/2019 10/24/2019 600,000.00 604,632.98 0.00 0.00 604,211.80 1,083.33 0.00 2,333.33 1,250.00 0.00 421.18 (421.18) 828.82 828.82 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 12 Income Earned As of March 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 3135G0V75 FNMA Note 1.75% Due 07/02/2024 11/05/2019 11/05/2019 750,000.00 750,985.12 0.00 0.00 750,922.66 2,151.04 0.00 3,244.79 1,093.75 0.00 62.46 (62.46) 1,031.29 1,031.29 3136G46B4 FNMA Callable Note Qtrly 01/26/2024 0.35% Due 04/26/2024 10/30/2020 10/30/2020 1,200,000.00 1,199,900.63 0.00 0.00 1,199,907.93 1,458.33 0.00 1,808.33 350.00 7.30 0.00 7.30 357.30 357.30 3137EAEQ8 FHLMC Note Due 04/20/2023 12/23/2021 12/23/2021 0.00 1,249,816.12 0.00 1,249,823.48 0.00 1,705.73 1,731.77 0.00 26.04 7.36 0.00 7.36 33.40 33.40 43815JAC7 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 04/21/2027 02/16/2023 02/24/2023 120,000.00 119,977.80 0.00 0.00 119,978.40 117.60 453.60 168.00 504.00 0.60 0.00 0.60 504.60 504.60 459200HU8 IBM Corp Note Due 02/12/2024 05/05/2021 05/05/2021 0.00 1,029,853.11 0.00 1,027,279.57 0.00 1,913.19 4,934.03 0.00 3,020.84 0.00 2,573.54 (2,573.54) 447.30 447.30 46647PAP1 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 04/23/2024 02/18/2021 02/18/2021 500,000.00 512,367.72 0.00 0.00 511,452.69 6,327.11 0.00 7,810.03 1,482.92 0.00 915.03 (915.03) 567.89 567.89 46647PBH8 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 03/13/2026 04/05/2022 04/05/2022 600,000.00 582,677.29 0.00 0.00 583,161.95 5,614.00 6,015.00 601.50 1,002.50 484.66 0.00 484.66 1,487.16 1,487.16 47800CAC0 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 Various 03/02/2023 680,000.00 0.00 680,204.18 0.00 680,200.62 0.00 0.00 2,744.37 2,744.37 0.73 4.29 (3.56) 2,740.81 2,740.81 58768PAC8 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 08/16/2027 02/15/2023 02/17/2023 260,000.00 261,327.03 0.00 0.00 261,291.90 602.04 1,128.83 602.04 1,128.83 0.00 35.13 (35.13) 1,093.70 1,093.70 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 13 Income Earned As of March 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 693475AV7 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 01/23/2024 07/29/2019 07/29/2019 900,000.00 911,594.87 0.00 0.00 910,499.01 3,325.00 0.00 5,950.00 2,625.00 0.00 1,095.86 (1,095.86) 1,529.14 1,529.14 69371RS49 Paccar Financial Corp Note 4.45% Due 03/30/2026 03/28/2023 03/30/2023 600,000.00 0.00 599,634.00 0.00 599,634.67 0.00 0.00 74.17 74.17 0.67 0.00 0.67 74.84 74.84 713448CM8 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 03/01/2024 06/23/2021 06/23/2021 500,000.00 513,963.53 0.00 0.00 512,780.83 9,000.00 9,000.00 1,500.00 1,500.00 0.00 1,182.70 (1,182.70) 317.30 317.30 717081DM2 Pfizer Inc. Note 3.4% Due 05/15/2024 09/27/2021 09/27/2021 500,000.00 517,052.61 0.00 0.00 515,853.90 5,005.56 0.00 6,422.22 1,416.66 0.00 1,198.71 (1,198.71) 217.95 217.95 742718EB1 Procter & Gamble Co Note Due 08/15/2023 12/15/2021 12/15/2021 0.00 505,611.53 0.00 504,670.67 0.00 688.89 1,894.44 0.00 1,205.55 0.00 940.86 (940.86) 264.69 264.69 88579YBB6 3M Co. Callable Note Cont 1/14/2024 3.25% Due 02/14/2024 02/17/2021 02/17/2021 500,000.00 513,440.71 0.00 0.00 512,250.24 767.36 0.00 2,121.53 1,354.17 0.00 1,190.47 (1,190.47) 163.70 163.70 89236THA6 Toyota Motor Credit Corp Note 1.35% Due 08/25/2023 04/23/2021 04/23/2021 700,000.00 703,100.40 0.00 0.00 702,557.39 157.50 0.00 945.00 787.50 0.00 543.01 (543.01) 244.49 244.49 89236THU2 Toyota Motor Credit Corp Note 0.45% Due 01/11/2024 09/27/2021 09/27/2021 480,000.00 479,751.43 0.00 0.00 479,775.82 300.00 0.00 480.00 180.00 24.39 0.00 24.39 204.39 204.39 89239HAD0 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 09/15/2027 02/10/2023 02/14/2023 350,000.00 354,076.69 0.00 0.00 353,968.77 824.44 1,545.83 824.44 1,545.83 0.00 107.92 (107.92) 1,437.91 1,437.91 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 14 Income Earned As of March 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 91159HHV5 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 02/05/2024 05/04/2021 05/04/2021 1,000,000.00 1,026,795.76 0.00 0.00 1,024,359.78 2,437.50 0.00 5,250.00 2,812.50 0.00 2,435.98 (2,435.98) 376.52 376.52 9128282D1 US Treasury Note 1.375% Due 08/31/2023 12/23/2021 12/23/2021 1,250,000.00 1,254,744.63 0.00 0.00 1,253,940.89 46.71 0.00 1,494.57 1,447.86 0.00 803.74 (803.74) 644.12 644.12 9128282Y5 US Treasury Note 2.125% Due 09/30/2024 08/25/2021 08/25/2021 1,000,000.00 1,026,494.99 0.00 0.00 1,025,076.44 8,873.63 10,625.00 58.06 1,809.43 0.00 1,418.55 (1,418.55) 390.88 390.88 9128285N6 US Treasury Note 2.875% Due 11/30/2025 07/15/2022 07/15/2022 500,000.00 496,915.46 0.00 0.00 497,010.60 3,593.75 0.00 4,817.99 1,224.24 95.14 0.00 95.14 1,319.38 1,319.38 9128286X3 US Treasury Note 2.125% Due 05/31/2026 09/30/2022 09/30/2022 500,000.00 469,822.99 0.00 0.00 470,611.10 2,656.25 0.00 3,561.13 904.88 788.11 0.00 788.11 1,692.99 1,692.99 912828D56 US Treasury Note 2.375% Due 08/15/2024 12/28/2021 12/28/2021 1,000,000.00 1,021,082.15 0.00 0.00 1,019,855.99 918.51 0.00 2,952.35 2,033.84 0.00 1,226.16 (1,226.16) 807.68 807.68 912828U57 US Treasury Note 2.125% Due 11/30/2023 10/31/2019 10/31/2019 650,000.00 652,118.77 0.00 0.00 651,879.06 3,453.13 0.00 4,629.46 1,176.33 0.00 239.71 (239.71) 936.62 936.62 912828YM6 US Treasury Note 1.5% Due 10/31/2024 12/28/2021 12/28/2021 1,000,000.00 1,008,771.09 0.00 0.00 1,008,325.35 5,013.81 0.00 6,298.34 1,284.53 0.00 445.74 (445.74) 838.79 838.79 912828YV6 US Treasury Note 1.5% Due 11/30/2024 09/10/2021 09/10/2021 700,000.00 712,446.05 0.00 0.00 711,843.19 2,625.00 0.00 3,519.23 894.23 0.00 602.86 (602.86) 291.37 291.37 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 15 Income Earned As of March 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 912828ZD5 US Treasury Note Due 03/15/2023 12/28/2021 12/28/2021 0.00 1,000,010.00 0.00 1,000,000.00 0.00 2,306.63 2,500.00 0.00 193.37 0.00 10.00 (10.00) 183.37 183.37 91282CAJ0 US Treasury Note 0.25% Due 08/31/2025 06/30/2022 06/30/2022 1,200,000.00 1,117,864.31 0.00 0.00 1,120,650.10 8.15 0.00 260.87 252.72 2,785.79 0.00 2,785.79 3,038.51 3,038.51 91282CAM3 US Treasury Note 0.25% Due 09/30/2025 07/15/2022 07/15/2022 500,000.00 464,948.31 0.00 0.00 466,099.38 521.98 625.00 3.42 106.44 1,151.07 0.00 1,151.07 1,257.51 1,257.51 91282CAW1 US Treasury Note 0.25% Due 11/15/2023 05/03/2021 05/03/2021 1,000,000.00 1,000,033.71 0.00 0.00 1,000,029.68 732.04 0.00 946.13 214.09 0.00 4.03 (4.03) 210.06 210.06 91282CBA8 US Treasury Note 0.125% Due 12/15/2023 10/07/2021 10/07/2021 1,200,000.00 1,198,034.70 0.00 0.00 1,198,245.51 313.19 0.00 440.93 127.74 210.81 0.00 210.81 338.55 338.55 91282CBQ3 US Treasury Note 0.5% Due 02/28/2026 07/15/2022 07/15/2022 500,000.00 463,477.81 0.00 0.00 464,511.77 6.79 0.00 217.39 210.60 1,033.96 0.00 1,033.96 1,244.56 1,244.56 91282CBV2 US Treasury Note 0.375% Due 04/15/2024 05/03/2021 05/03/2021 1,000,000.00 1,000,448.07 0.00 0.00 1,000,414.27 1,411.40 0.00 1,730.77 319.37 0.00 33.80 (33.80) 285.57 285.57 91282CBW0 US Treasury Note 0.75% Due 04/30/2026 09/30/2022 09/30/2022 500,000.00 450,150.09 0.00 0.00 451,486.90 1,253.45 0.00 1,574.59 321.14 1,336.81 0.00 1,336.81 1,657.95 1,657.95 91282CCC3 US Treasury Note 0.25% Due 05/15/2024 05/17/2021 05/17/2021 1,000,000.00 998,741.64 0.00 0.00 998,830.09 732.04 0.00 946.13 214.09 88.45 0.00 88.45 302.54 302.54 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 16 Income Earned As of March 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 91282CCJ8 US Treasury Note 0.875% Due 06/30/2026 09/30/2022 09/30/2022 500,000.00 449,858.03 0.00 0.00 451,135.27 725.14 0.00 1,099.79 374.65 1,277.24 0.00 1,277.24 1,651.89 1,651.89 91282CCK5 US Treasury Note 0.125% Due 06/30/2023 01/13/2022 01/13/2022 800,000.00 798,376.02 0.00 0.00 798,792.08 165.75 0.00 251.38 85.63 416.06 0.00 416.06 501.69 501.69 91282CCN9 US Treasury Note 0.125% Due 07/31/2023 01/13/2022 01/13/2022 1,000,000.00 997,253.23 0.00 0.00 997,813.43 100.14 0.00 207.18 107.04 560.20 0.00 560.20 667.24 667.24 91282CGC9 US Treasury Note 3.875% Due 12/31/2027 02/06/2023 02/07/2023 1,000,000.00 1,001,427.53 0.00 0.00 1,001,402.47 6,422.65 0.00 9,741.02 3,318.37 0.00 25.06 (25.06) 3,293.31 3,293.31 91282CGE5 US Treasury Note 3.875% Due 01/15/2026 02/06/2023 02/07/2023 1,000,000.00 993,074.65 0.00 0.00 993,278.92 4,816.99 0.00 8,135.36 3,318.37 204.27 0.00 204.27 3,522.64 3,522.64 931142DH3 Wal-Mart Stores Callable Note Cont 1/11/2023 Due 04/11/2023 09/19/2019 09/19/2019 0.00 500,288.73 0.00 500,204.23 0.00 4,958.33 5,383.33 0.00 425.00 0.00 84.50 (84.50) 340.50 340.50 Total Fixed Income 42,075,000.00 43,889,823.76 2,853,446.18 4,791,805.73 41,938,714.69 187,545.46 91,441.94 174,151.18 78,047.66 11,953.71 24,703.23 (12,749.52) 65,298.14 65,298.14 CASH & EQUIVALENT 31846V807 First American Treasury MMF Class Y Various Various 2,967,302.09 999,796.03 3,250,951.85 1,283,445.79 2,967,302.09 0.00 7,120.59 0.00 7,120.59 0.00 0.00 0.00 7,120.59 7,120.59 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 17 Income Earned As of March 31, 2023 City of San Rafael Account #11045 CUSIP Security Description Trade Date Settle Date Units Book Value: Begin Book Value: Acq Book Value: Disp Book Value: End Prior Accrued Inc. Received Ending Accrued Total Interest Accr. Of Discount Amort. Of Premium Net Accret/Amort Income Earned Total Income 96130ASC3 Westpac Banking Corp NY Yankee CD 5.38% Due 02/16/2024 02/16/2023 02/17/2023 375,000.00 375,136.38 0.00 0.00 375,124.37 728.54 0.00 2,465.83 1,737.29 0.00 12.01 (12.01) 1,725.28 1,725.28 Total Cash & Equivalent 3,342,302.09 1,374,932.41 3,250,951.85 1,283,445.79 3,342,426.46 728.54 7,120.59 2,465.83 8,857.88 0.00 12.01 (12.01) 8,845.87 8,845.87 TOTAL PORTFOLIO 45,417,302.09 45,264,756.17 6,104,398.03 6,075,251.52 45,281,141.15 188,274.00 98,562.53 176,617.01 86,905.54 11,953.71 24,715.24 (12,761.53) 74,144.01 74,144.01 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 18 Cash Flow Report As of March 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/03/2023 Purchase 31846V807 496,001.81 First American Treasury MMF Class Y -496,001.81 0.00 -496,001.81 04/03/2023 Sale 88579YBB6 500,000.00 3M Co. Callable Note Cont 1/14/2024 496,001.81 2,211.81 498,213.62 04/15/2023 Interest 91282CBV2 1,000,000.00 US Treasury Note 0.375% Due 4/15/2024 0.00 1,875.00 1,875.00 04/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 04/15/2023 Paydown 47800CAC0 680,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 10,803.83 4,069.24 14,873.07 04/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 04/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 04/22/2023 Interest 3133EMWV0 1,000,000.00 FFCB Note 0.35% Due 4/22/2024 0.00 1,750.00 1,750.00 04/23/2023 Interest 46647PAP1 500,000.00 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 0.00 8,897.50 8,897.50 04/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 04/26/2023 Interest 3136G46B4 1,200,000.00 FNMA Callable Note Qtrly 01/26/2024 0.35% Due 4/26/2024 0.00 2,100.00 2,100.00 04/30/2023 Interest 912828YM6 1,000,000.00 US Treasury Note 1.5% Due 10/31/2024 0.00 7,500.00 7,500.00 04/30/2023 Interest 91282CBW0 500,000.00 US Treasury Note 0.75% Due 4/30/2026 0.00 1,875.00 1,875.00 APR 2023 10,803.83 35,327.71 46,131.54 05/03/2023 Interest 00440EAV9 500,000.00 Chubb INA Holdings Inc Callable Note Cont 2/3/2026 3.35% Due 5/3/2026 0.00 8,375.00 8,375.00 05/03/2023 Maturity 037833AK6 500,000.00 Apple Inc Note 2.4% Due 5/3/2023 500,000.00 6,000.00 506,000.00 05/06/2023 Interest 3133EMYR7 1,000,000.00 FFCB Callable Note Cont 5/6/2022 0.375% Due 5/6/2024 0.00 1,875.00 1,875.00 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 19 Cash Flow Report As of March 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/10/2023 Maturity 02665WDH1 1,000,000.00 American Honda Finance Note 1.95% Due 5/10/2023 1,000,000.00 9,750.00 1,009,750.00 05/11/2023 Interest 166764BW9 700,000.00 Chevron Corp Callable Note Cont 4/11/2025 1.554% Due 5/11/2025 0.00 5,439.00 5,439.00 05/15/2023 Interest 91282CCC3 1,000,000.00 US Treasury Note 0.25% Due 5/15/2024 0.00 1,250.00 1,250.00 05/15/2023 Interest 91282CAW1 1,000,000.00 US Treasury Note 0.25% Due 11/15/2023 0.00 1,250.00 1,250.00 05/15/2023 Interest 717081DM2 500,000.00 Pfizer Inc. Note 3.4% Due 5/15/2024 0.00 8,500.00 8,500.00 05/15/2023 Paydown 47800CAC0 680,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 10,848.95 2,793.89 13,642.84 05/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 05/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 05/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 05/24/2023 Interest 14912L5X5 1,000,000.00 Caterpillar Finance Serv Corp Note 3.75% Due 11/24/2023 0.00 18,750.00 18,750.00 05/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 05/31/2023 Interest 9128286X3 500,000.00 US Treasury Note 2.125% Due 5/31/2026 0.00 5,312.50 5,312.50 05/31/2023 Interest 9128285N6 500,000.00 US Treasury Note 2.875% Due 11/30/2025 0.00 7,187.50 7,187.50 05/31/2023 Interest 912828YV6 700,000.00 US Treasury Note 1.5% Due 11/30/2024 0.00 5,250.00 5,250.00 05/31/2023 Interest 912828U57 650,000.00 US Treasury Note 2.125% Due 11/30/2023 0.00 6,906.25 6,906.25 MAY 2023 1,510,848.95 93,688.30 1,604,537.25 06/12/2023 Interest 3130ATUC9 1,000,000.00 FHLB Note 4.5% Due 12/12/2025 0.00 27,375.00 27,375.00 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 20 Cash Flow Report As of March 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/15/2023 Interest 91282CBA8 1,200,000.00 US Treasury Note 0.125% Due 12/15/2023 0.00 750.00 750.00 06/15/2023 Paydown 47800CAC0 680,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 10,894.24 2,748.60 13,642.84 06/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 06/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 06/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 06/23/2023 Interest 3130AMQQ8 1,000,000.00 FHLB Callable Note Qtrly 12/23/2021 0.35% Due 4/23/2024 0.00 1,750.00 1,750.00 06/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 06/30/2023 Interest 91282CGC9 1,000,000.00 US Treasury Note 3.875% Due 12/31/2027 0.00 19,375.00 19,375.00 06/30/2023 Interest 91282CCJ8 500,000.00 US Treasury Note 0.875% Due 6/30/2026 0.00 2,187.50 2,187.50 06/30/2023 Maturity 91282CCK5 800,000.00 US Treasury Note 0.125% Due 6/30/2023 800,000.00 500.00 800,500.00 JUN 2023 810,894.24 59,735.26 870,629.50 07/02/2023 Interest 3135G0V75 750,000.00 FNMA Note 1.75% Due 7/2/2024 0.00 6,562.50 6,562.50 07/11/2023 Interest 89236THU2 480,000.00 Toyota Motor Credit Corp Note 0.45% Due 1/11/2024 0.00 1,080.00 1,080.00 07/15/2023 Interest 91282CGE5 1,000,000.00 US Treasury Note 3.875% Due 1/15/2026 0.00 19,375.00 19,375.00 07/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 07/15/2023 Paydown 47800CAC0 680,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 10,939.72 2,703.12 13,642.84 07/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 21 Cash Flow Report As of March 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/17/2023 Interest 24422EVN6 1,000,000.00 John Deere Capital Corp Note 0.45% Due 1/17/2024 0.00 2,250.00 2,250.00 07/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 07/23/2023 Interest 17325FAS7 500,000.00 Citibank Callable Note Cont 12/23/2023 3.65% Due 1/23/2024 0.00 9,125.00 9,125.00 07/23/2023 Interest 46647PAP1 500,000.00 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 0.00 6,572.23 6,572.23 07/23/2023 Interest 693475AV7 900,000.00 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 1/23/2024 0.00 15,750.00 15,750.00 07/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 07/31/2023 Maturity 91282CCN9 1,000,000.00 US Treasury Note 0.125% Due 7/31/2023 1,000,000.00 625.00 1,000,625.00 JUL 2023 1,010,939.72 69,092.01 1,080,031.73 08/05/2023 Interest 3135G0V34 600,000.00 FNMA Note 2.5% Due 2/5/2024 0.00 7,500.00 7,500.00 08/05/2023 Interest 91159HHV5 1,000,000.00 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 2/5/2024 0.00 16,875.00 16,875.00 08/15/2023 Interest 912828D56 1,000,000.00 US Treasury Note 2.375% Due 8/15/2024 0.00 11,875.00 11,875.00 08/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 08/15/2023 Paydown 47800CAC0 680,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 10,985.40 2,657.44 13,642.84 08/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 08/21/2023 Interest 3133EPBF1 1,000,000.00 Federal Farm Credit Bank Note 4.875% Due 8/21/2024 0.00 24,375.00 24,375.00 08/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 08/25/2023 Maturity 89236THA6 700,000.00 Toyota Motor Credit Corp Note 1.35% Due 8/25/2023 700,000.00 4,725.00 704,725.00 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 22 Cash Flow Report As of March 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 08/28/2023 Interest 3130AV7L0 1,100,000.00 Federal Home Loan Bank Note 5% Due 2/28/2025 0.00 26,736.11 26,736.11 08/31/2023 Interest 91282CAJ0 1,200,000.00 US Treasury Note 0.25% Due 8/31/2025 0.00 1,500.00 1,500.00 08/31/2023 Interest 91282CBQ3 500,000.00 US Treasury Note 0.5% Due 2/28/2026 0.00 1,250.00 1,250.00 08/31/2023 Maturity 9128282D1 1,250,000.00 US Treasury Note 1.375% Due 8/31/2023 1,250,000.00 8,593.75 1,258,593.75 AUG 2023 1,960,985.40 111,136.46 2,072,121.86 09/01/2023 Interest 713448CM8 500,000.00 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 3/1/2024 0.00 9,000.00 9,000.00 09/12/2023 Interest 3130ATHT7 1,300,000.00 FHLB Note 4.375% Due 9/12/2025 0.00 28,437.50 28,437.50 09/12/2023 Maturity 3135G0U43 1,000,000.00 FNMA Note 2.875% Due 9/12/2023 1,000,000.00 14,375.00 1,014,375.00 09/13/2023 Interest 46647PBH8 600,000.00 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 3/13/2026 0.00 6,015.00 6,015.00 09/15/2023 Paydown 47800CAC0 680,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 11,031.26 2,611.58 13,642.84 09/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 09/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 09/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 09/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 09/30/2023 Interest 69371RS49 600,000.00 Paccar Financial Corp Note 4.45% Due 3/30/2026 0.00 13,350.00 13,350.00 09/30/2023 Interest 9128282Y5 1,000,000.00 US Treasury Note 2.125% Due 9/30/2024 0.00 10,625.00 10,625.00 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 23 Cash Flow Report As of March 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/30/2023 Interest 91282CAM3 500,000.00 US Treasury Note 0.25% Due 9/30/2025 0.00 625.00 625.00 SEP 2023 1,011,031.26 90,088.24 1,101,119.50 10/15/2023 Interest 91282CBV2 1,000,000.00 US Treasury Note 0.375% Due 4/15/2024 0.00 1,875.00 1,875.00 10/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 10/15/2023 Paydown 47800CAC0 680,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 11,077.32 2,565.52 13,642.84 10/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 10/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 10/22/2023 Interest 3133EMWV0 1,000,000.00 FFCB Note 0.35% Due 4/22/2024 0.00 1,750.00 1,750.00 10/23/2023 Interest 46647PAP1 500,000.00 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 0.00 6,644.46 6,644.46 10/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 10/26/2023 Interest 3136G46B4 1,200,000.00 FNMA Callable Note Qtrly 01/26/2024 0.35% Due 4/26/2024 0.00 2,100.00 2,100.00 10/31/2023 Interest 912828YM6 1,000,000.00 US Treasury Note 1.5% Due 10/31/2024 0.00 7,500.00 7,500.00 10/31/2023 Interest 91282CBW0 500,000.00 US Treasury Note 0.75% Due 4/30/2026 0.00 1,875.00 1,875.00 OCT 2023 11,077.32 29,359.14 40,436.46 11/03/2023 Interest 00440EAV9 500,000.00 Chubb INA Holdings Inc Callable Note Cont 2/3/2026 3.35% Due 5/3/2026 0.00 8,375.00 8,375.00 11/06/2023 Interest 3133EMYR7 1,000,000.00 FFCB Callable Note Cont 5/6/2022 0.375% Due 5/6/2024 0.00 1,875.00 1,875.00 11/11/2023 Interest 166764BW9 700,000.00 Chevron Corp Callable Note Cont 4/11/2025 1.554% Due 5/11/2025 0.00 5,439.00 5,439.00 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 24 Cash Flow Report As of March 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/15/2023 Interest 91282CCC3 1,000,000.00 US Treasury Note 0.25% Due 5/15/2024 0.00 1,250.00 1,250.00 11/15/2023 Interest 717081DM2 500,000.00 Pfizer Inc. Note 3.4% Due 5/15/2024 0.00 8,500.00 8,500.00 11/15/2023 Maturity 91282CAW1 1,000,000.00 US Treasury Note 0.25% Due 11/15/2023 1,000,000.00 1,250.00 1,001,250.00 11/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 11/15/2023 Paydown 47800CAC0 680,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 11,123.56 2,519.28 13,642.84 11/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 11/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 11/24/2023 Maturity 14912L5X5 1,000,000.00 Caterpillar Finance Serv Corp Note 3.75% Due 11/24/2023 1,000,000.00 18,750.00 1,018,750.00 11/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 11/30/2023 Interest 9128285N6 500,000.00 US Treasury Note 2.875% Due 11/30/2025 0.00 7,187.50 7,187.50 11/30/2023 Interest 9128286X3 500,000.00 US Treasury Note 2.125% Due 5/31/2026 0.00 5,312.50 5,312.50 11/30/2023 Interest 912828YV6 700,000.00 US Treasury Note 1.5% Due 11/30/2024 0.00 5,250.00 5,250.00 11/30/2023 Maturity 912828U57 650,000.00 US Treasury Note 2.125% Due 11/30/2023 650,000.00 6,906.25 656,906.25 NOV 2023 2,661,123.56 77,663.69 2,738,787.25 12/12/2023 Interest 3130ATUC9 1,000,000.00 FHLB Note 4.5% Due 12/12/2025 0.00 22,500.00 22,500.00 12/15/2023 Maturity 91282CBA8 1,200,000.00 US Treasury Note 0.125% Due 12/15/2023 1,200,000.00 750.00 1,200,750.00 12/15/2023 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 25 Cash Flow Report As of March 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/15/2023 Paydown 47800CAC0 680,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 11,170.01 2,472.83 13,642.84 12/15/2023 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 12/21/2023 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 12/23/2023 Interest 3130AMQQ8 1,000,000.00 FHLB Callable Note Qtrly 12/23/2021 0.35% Due 4/23/2024 0.00 1,750.00 1,750.00 12/25/2023 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 12/31/2023 Interest 91282CCJ8 500,000.00 US Treasury Note 0.875% Due 6/30/2026 0.00 2,187.50 2,187.50 12/31/2023 Interest 91282CGC9 1,000,000.00 US Treasury Note 3.875% Due 12/31/2027 0.00 19,375.00 19,375.00 DEC 2023 1,211,170.01 54,084.49 1,265,254.50 01/02/2024 Interest 3135G0V75 750,000.00 FNMA Note 1.75% Due 7/2/2024 0.00 6,562.50 6,562.50 01/11/2024 Maturity 89236THU2 480,000.00 Toyota Motor Credit Corp Note 0.45% Due 1/11/2024 480,000.00 1,080.00 481,080.00 01/15/2024 Interest 91282CGE5 1,000,000.00 US Treasury Note 3.875% Due 1/15/2026 0.00 19,375.00 19,375.00 01/15/2024 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 01/15/2024 Paydown 47800CAC0 680,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 11,216.64 2,426.20 13,642.84 01/15/2024 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 01/17/2024 Maturity 24422EVN6 1,000,000.00 John Deere Capital Corp Note 0.45% Due 1/17/2024 1,000,000.00 2,250.00 1,002,250.00 01/21/2024 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 01/23/2024 Interest 46647PAP1 500,000.00 JP Morgan Chase & Co Callable Note 1X 4/23/2023 3.559% Due 4/23/2024 0.00 6,644.46 6,644.46 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 26 Cash Flow Report As of March 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/23/2024 Maturity 693475AV7 900,000.00 PNC Financial Services Callable Note Cont 12/23/2023 3.5% Due 1/23/2024 900,000.00 15,750.00 915,750.00 01/23/2024 Maturity 17325FAS7 500,000.00 Citibank Callable Note Cont 12/23/2023 3.65% Due 1/23/2024 500,000.00 9,125.00 509,125.00 01/25/2024 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 JAN 2024 2,891,216.64 68,262.32 2,959,478.96 02/05/2024 Maturity 91159HHV5 1,000,000.00 US Bancorp Callable Note Cont 1/5/2024 3.375% Due 2/5/2024 1,000,000.00 16,875.00 1,016,875.00 02/05/2024 Maturity 3135G0V34 600,000.00 FNMA Note 2.5% Due 2/5/2024 600,000.00 7,500.00 607,500.00 02/15/2024 Interest 912828D56 1,000,000.00 US Treasury Note 2.375% Due 8/15/2024 0.00 11,875.00 11,875.00 02/15/2024 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 02/15/2024 Paydown 47800CAC0 680,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 11,263.47 2,379.37 13,642.84 02/15/2024 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 02/16/2024 Maturity 96130ASC3 375,000.00 Westpac Banking Corp NY Yankee CD 5.38% Due 2/16/2024 375,000.00 20,455.21 395,455.21 02/21/2024 Interest 3133EPBF1 1,000,000.00 Federal Farm Credit Bank Note 4.875% Due 8/21/2024 0.00 24,375.00 24,375.00 02/21/2024 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 02/25/2024 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 02/28/2024 Interest 3130AV7L0 1,100,000.00 Federal Home Loan Bank Note 5% Due 2/28/2025 0.00 27,500.00 27,500.00 02/29/2024 Interest 91282CAJ0 1,200,000.00 US Treasury Note 0.25% Due 8/31/2025 0.00 1,500.00 1,500.00 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 27 Cash Flow Report As of March 31, 2023 City of San Rafael Account #11045 Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/29/2024 Interest 91282CBQ3 500,000.00 US Treasury Note 0.5% Due 2/28/2026 0.00 1,250.00 1,250.00 FEB 2024 1,986,263.47 118,758.74 2,105,022.21 03/01/2024 Maturity 713448CM8 500,000.00 Pepsico Inc. Callable Note Cont 12/01/2023 3.6% Due 3/1/2024 500,000.00 9,000.00 509,000.00 03/12/2024 Interest 3130ATHT7 1,300,000.00 FHLB Note 4.375% Due 9/12/2025 0.00 28,437.50 28,437.50 03/13/2024 Interest 46647PBH8 600,000.00 JP Morgan Chase & Co Callable Note Mthly 3/13/2025 2.005% Due 3/13/2026 0.00 6,015.00 6,015.00 03/15/2024 Paydown 58768PAC8 260,000.00 Mercedes-Benz Auto Receivables 2022-1 A3 5.21% Due 8/16/2027 0.00 1,128.83 1,128.83 03/15/2024 Paydown 47800CAC0 680,000.00 John Deere Owner Trust 2023-A A3 5.01% Due 11/15/2027 11,310.50 2,332.34 13,642.84 03/15/2024 Paydown 89239HAD0 350,000.00 Toyota Auto Receivables Owner 20222-D A3 5.3% Due 9/15/2027 0.00 1,545.83 1,545.83 03/21/2024 Paydown 43815JAC7 120,000.00 Honda Auto Receivables Owner 2023-1 A3 5.04% Due 4/21/2027 0.00 504.00 504.00 03/25/2024 Paydown 05593AAC3 435,000.00 BMW Vehicle Lease Trust 2023-1 A3 5.16% Due 11/25/2025 0.00 1,870.50 1,870.50 03/30/2024 Interest 69371RS49 600,000.00 Paccar Financial Corp Note 4.45% Due 3/30/2026 0.00 13,350.00 13,350.00 MAR 2024 511,310.50 64,184.00 575,494.50 TOTAL 15,587,664.90 871,380.36 16,459,045.26 Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 28 Important DisclosuresCity of San Rafael Account #11045 Chandler Asset Management, Inc. ;͞Chandler͟Ϳis an SEC registered investment adviser. For additional information about our firm, please see our current disclosures (Form ADV). To obtain a copy of our current disclosures, you may contact your client service representative by calling the number on the front of this statement or you may visit our website at www.chandlerasset.com. Information contained in this monthly statement is confidential and is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of this statement, but may become outdated or superseded at any time without notice. Custody: Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account. Valuation: Prices are provided by IDC, an independent pricing source. In the event IDC does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A. Performance: Performance results are presented gross-of-advisory fees and represent the client ͛s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio. Source ice Data Indices, LLC ("ICE"), used with permission. ICE PERMITS USE OF THE ICE INDICES AND RELATED DATA ON AN "AS IS" BASIS; ICE, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM. NEITHER ICE DATA, ITS AFFILIATES OR THEIR RESPECTIVE THIRD PARTY PROVIDERS GUARANTEE THE QUALITY, ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN "AS IS" BASIS AND LICENSEE'S USE IS AT LICENSEE'S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE, OR RECOMMEND CHANDLER, OR ANY OF ITS PRODUCTS OR SERVICES. Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index. Ratings: Ratings information have been provided by Moody͛s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy. Security level ratings for U.S. Agency issued mortgage-backed securities ;͞MBS͟Ϳreflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P, Moody ͛s and Fitch respectively. Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 29 Benchmark Index & DisclosuresCity of San Rafael Account #11045 Benchmark Index Disclosure ICE BofA 1-3 Yr US Treasury & Agency Index The ICE BofA 1-3 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody ͛s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than three years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies. Execution Time: 4/3/2023 11:45:00 PMChandler Asset Management - CONFIDENTIAL Page 30