HomeMy WebLinkAbout1B OCRCity Council Staff Re{Jort
DATE: December 10, 2020 CONSENT CALENDAR
SUBJECT: TREASURER'S INVESTMENT REPORT AS
OF OCTOBER 31, 2020
FROM: Nancy Pauley, Director of Finance and Treasurer
BY: Department of Finance and Treasury
SUMMARY
Attached is the Treasurer's Investment Report as of October 31, 2020. The report
includes the face value and coupon rate (if applicable) of the investments and the
source for the market value estimate. The City's total invested cash and
marketable securities is $231,307,024. There is an additional $25,900,744 held by
a fiscal agent for bond issue reserves, debt service, and related funds, and
$1,127,264 in other miscellaneous accounts.
RECOMMENDATION:
Receive and File Treasurer's Investment Report as of October 31, 2020.
STAFF ANALYSIS:
The attached report includes the face value and coupon rate (if applicable) of the
investments and the source for the market value estimate. Also included is
information on the investments of bond issue reserve, debt service and related
funds.
The investments, in type, maturity and as a percentage of the total portfolio, are in
compliance with the existing City Council approved investment policy.
•
2City Council Staff Report December 10, 2020 -Page 2 Treasurer's Investment Report as of October 31, 2020 The weighted average maturity r,NAM) of the portfolio is 282 days. The maximum WAM allowed by the Investment Policy is 1,095 days. The current portfolio and expected revenue cash flow will be sufficient to meet budgeted expenditure requirements for the next six months and the foreseeable future thereafter. FISCAL IMPACT: None. ~~ David H. Ready.is_ City Manager Director of Finance/City Treasurer Attachments: Treasurer's Investment Report
3
I On Call Deposits
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
SUMMARY OF INVESTMENTS
October 31, 2020
Adjusted Basis
Checking Account -Bank of America 9,913,436
Union Bank 4,877,879
CalTrust Short Term 44,406,989
LAI F State Pool 69,302,383 $
Short Term Investments -Union Bank
(1 ear or less
U.S. Government Agencies 2,500,000
U.S. Government Agencies 89,497,686
ICoreorate Bonds/Obligations -Union Bank (5 lears or less)
Corporate Bonds 6,287,983
Negotiable Certificates of Deposit -Union Bank
(5 ears or less)
FDIC-Insured CD's 4,500,000
Total Cash and Marketable Securities $
Adjustments from prior month
Ending Cash Balance: $
Page 1 of 9
Category Total Percentage of Total
128,500,686 55.56%
2,500,000 1.08%
89,497,686 38.70%
6,287,983 2.72%
4,500,000 1.95%
231,286,355 100.00%
20,669
231,307,024
4Portfolio Composition
Investment Type
U.S. Government Agencies
LAIF State Pool
CalTrust Short Term
Checking/Custody
Corporate Bonds/Obligations
Certificates of Deeosit
TOTAL
LAIF State Pool
30.0%
U.S. Government Agencies
39.8%
$
Cost Basis
91,997,686
69,302,383
44,406,989
14,791,314
6,287,983
4,500,000
231,286,355
Deposit
1.9%
CITY OF PALM SPRINGS
TREASURER'S MONTHLY REPORT
PORTFOLIO STATISTICS
October 31, 2020
CalTrust Short Term
19.2%
Checking/Custody
6.4%
Corporate
Bonds/Obligations
2.7%
Page 2 of 9
q,,~ ~, ,s,,.
Portfolio Liquidity
Aging Interval*
Overnight
Less than 1 Year
1 - 2 Years
2 - 3 Years
3-4 Years
4 - 5 Years
TOTAL
*To maturity (does not include call date)
4i,11 .,_
11''-s. ~>:. iii,, $~~ ., >:.
$~ ...
~-
Par Value
128,500,686
4,750,000
56,744,661
41,291,008
$ 231,286,355
$0
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~>:.
$~~
'91:.
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9
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5TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
October 31 , 2020
Par Value Coupon Moody's / S&P Purchase Maturity/Called Days Yield Cost Basis Category Market Value as of Market Value as of
~ Rating Date ~ to Maturity to Maturity Total Qctgtier 31 20,0 §e12temtier 30 &0.lQ
I On Call Deposits
Checking -Bank of America 9,913,436 NIA N/A Demand 1 None 9,913,436 9,913,436 10,149,076
Union Bank 4,877,879 variable NIA Demand 1 None 4,877,879 4,877,879 10,967,308
CalTrust ShortTerm 44,406,989 variable N/A Demand 1 1.64% 44,406,989 44,406,989 47,370,649
Local Agency Invest Fund (LAIF) 69,302,383 variable N/A Demand 1 1.79% 69,302,383 69,302,383 69,149,888
128,500,686 128,500,686 128,500,686 137,636,921
!Short Term Investments (1 ~ear or less) I
US Agency Securities
Federal National Mortgage Association 500,000 1.50% Aaa I AA+ 02/24/16 11/24/20 24 1.50% 500,000 500,425 501,025
Federal National Mortgage Association 1,000,000 1.75% Aaa/ AA+ 08/16/17 02/16/21 108 1.75% 1,000,000 1,004,690 1,005,880
Federal National Mortgage Association 1,000,000 1.40% Aaa/ AA+ 08/03/16 08/25/21 298 1.40% 1,000,000 1,010,220 1,011 210
2,500,000 2,500,000 2,515,335 2,518,115
!Medium Term Investments (1 ~ear to 3 ~ears) I
US Agency Securities
Federal Home Loan Bank 1,000,000 1.05% Aaa/AA+ 10/11/16 11/15/21 380 1.05% 1,000,000 1,019,290 1,021,010
US Treasury Notes 2,450,000 1.50% Aaa/AA 09/04/20 11/30/21 395 1.25% 2,491,344 2,485,599 2,488,465
Federal Home Loan Bank 3,000,000 1.63% Aaa I AA+ 03/17/20 12/20/21 415 1.63% 3,046,440 3,050,700 3,054,870
US Treasury Notes 2,450,000 1.63% Aaa I AA 09/04/20 12/31/21 426 1.21% 2,498,139 2,492,116 2,495,546
Federal National Mortgage Association 3,000,000 2.00% Aaa I AA+ 03/17/20 01/05/22 431 2.00% 3,068,010 3,066,360 3,071,520
Federal National Mortgage Association 3,000,000 2.63% Aaa I AA+ 03/17/20 01/11/22 437 2.63% 3,106,080 3,087,600 3,095,520
Federal Home Loan Mortgage Corporation 3,000,000 2.38% Aaa/AA 03/17/20 01/13/22 439 2.38% 3,092,820 3,079,440 3,086,610
US Treasury Notes 2,450,000 1.38% Aaa/AA 09/04/20 01/31/22 457 1.30% 2,492,492 2,487,510 2,490,670
US Treasury Notes 3,050,000 1.75% Aaa/AA+ 03/24/20 05/31/22 577 1.75% 3,142,334 3,126,860 3,132,320
Federal Home Loan Mortgage Corporation 3,000,000 2.50% Aaa/ AA+ 07/24/20 06/08/22 585 2.16% 3,001,500 3,002,760 3,004,140
US Treasury Notes 3,050,000 1.75% Aaa/ AA+ 03/24/20 06/15/22 592 1.75% 3,147,100 3,128,263 3,133,997
US Treasury Notes 3,050,000 1.75% Aaa/ AA+ 03/24/20 06/30/22 607 1.75% 3,147,814 3,130,764 3,136,376
US Treasury Notes 3,050,000 1.75% Aaa/ AA+ 03/24/20 07/15/22 622 1.75% 3,146,504 3,132,808 3,138,633
Federal Home Loan Mortgage Corporation 2,675,000 1.25% Aaa/ AA+ 07/24/20 07/25/22 632 2.21% 2,669,490 2,673,556 2,672,566
US Treasury Notes 3,050,000 1.50% Aaa I AA+ 03/24/20 08/15/22 653 1.50% 3,132,922 3,123,048 3,128,629
US Treasury Notes 3,050,000 1.63% Aaa I AA+ 03/24/20 08/15/22 653 1.63% 3,141,619 3,130,063 3,135,675
Federal National Mortgage Association 3,000,000 1.38% Aaa/ AA+ 03/20/20 09/06/22 675 1.38% 3,054,180 3,066,150 3,070,410
Federal National Mortgage Association 3,000,000 2 .00% Aaa I AA+ 03/20/20 10/05/22 704 2 .00% 3,092,160 3 ,105,360 3,111,240
US Treasury Notes 1,685,000 1.38% Aaa/AA 09/04/20 10/15/22 714 1.28% 1,729,034 1,724,951 1,727,715
US Treasury Notes 3,175,000 1.50% Aaa/ AA+ 03/24/20 01/15/23 806 1.50% 3,271,366 3,268,282 3,273,489
Federal National Mortgage Association 3,000,000 2.38% Aaa/ AA+ 03/20/20 01/19/23 810 2.38% 3,134,100 3,143,130 3,147,150
US Treasury Notes 1,685,000 1.75% Aaa/ AA 09/04/20 01/31/23 822 1.31% 1,750,294 1,744,767 1,748,120
Federal Home Loan Bank 3,000,000 1.38% Aaa/ AA+ 03/20/20 02/17/23 839 1.38% 3,052,314 3,079,590 3,084,090
US Treasury Notes 3,175,000 1.50% Aaa/ AA+ 03/24/20 02/28/23 850 1.50% 3,275,459 3,273,108 3,279,299
US Treasury Notes 3,175,000 0.50% Aaa/ AA+ 03/24/20 03/15/23 865 0.50% 3,184,302 3,199,543 3,202,527
US Treasury Notes 3,175,000 1.50% Aaa/ AA+ 03/24/20 03/31/23 881 1.50% 3,277,443 3,276,441 3,282,537
US Treasury Notes 2,500,000 2.50% Aaa/AA 09/04/20 04/15/23 896 1.33% 2,507,324 2,504,775 2,506,750
Federal Home Loan Mortgage Corporation 2,500,000 2.50% Aaa I AA+ 09/04/20 06/26/23 968 2.34% 2,500,775 2,500,925 2,502,250
Federal Home Loan Mortgage Corporation 2,790,000 2.50% Aaa I AA+ 07/10/20 07/10/23 982 2.50% 2,784,002 2,792,985 2,789,414
US Treasury Notes 2,500,000 1.25% Aaa/AA 09/04/20 07/15/23 987 1.44% 2 ,498,633 2,495,900 2,498,250
Federal Home Loan Mortgage Corporation 2,075,000 2 .50% Aaa/ AA+ 08/19/20 08/24/23 1,027 2.50% 2,072,884 2,074,793 2,076,411
Federal Home Loan Mortgage Corporation 3,0001000 1.25% Aaa/ AA+ 10/16/20 10/16/23 1,080 2.50% 2 988 810 2 988 810
91,260,000 89,497,686 92,981,798 90,115,522
Page 3 of 9
6TREASURER'S MONTHLY REPORT
DETAIL OF INVESTMENTS
October 31, 2020
Par Value Coupon Moody's I S&P Purchase Maturity/Called Days Yield Cost Basis Category Market Value as of Market Value as of
~ Rating ~ Date ~ to Maturity Imm Qctober 31 ioio Se12tembe[ 30 2020
lco!Eorate Bonds/Obligations !5 ~ears or less)
Apple Incorporated 2,000,000 2.15% FDIC 04/09/20 02/09/22 466 2.10% 2,044,680 2,047,180 2,051,060
Apple Incorporated 1,000,000 2.40% FDIC 10/26/20 01/13/23 804 2.30% 1,044,270 1,043,290
Pepsico Inc 1,000,000 0.75% FDIC 10/30/20 05/01/23 912 0.74% 1,011,210 1,010,020
Microsoft Corporation 1,114,000 2.00% FDIC 04/13/20 08/08/23 1,011 1.92% 1,153,413 1,163,083 1,163,150
Pepsico Inc 1,035,000 0.04% FDIC 10/07/20 10/07/23 1,071 0.40% 1034410 1037525
6,149,000 6,287,983 6,301,098 3,214,210 I Negotiable Certificates of Deeosit !5 ~ears or less) I
First Bank of Highland CD 250,000 1.90% FDIC 10/23/17 11/02/20 2 1.90% 250,000 250,040 250,423
Barclays Bank CD 250,000 2.00% FDIC 11/03/17 11/09/20 9 2.00% 250,000 250,135 250,540
Investors Bank CD 250,000 2.10% FDIC 12/27/17 12/28/20 58 2.10% 250,000 250,833 251,263
Carver Federal Savings Bank CD 250,000 2.15% FDIC 12/29/17 12/29/20 59 2.15% 250,000 250,865 251,308
Citizens National Bank CD 250,000 2.15% FDIC 01/17/18 01/19/21 80 2.15% 250,000 251,178 251,610
Marlin Business Bank CD 250,000 2.20% FDIC 01/18/18 01/19/21 BO 2.20% 250,000 251,205 251,650
Capital One Bank, NA CD 250,000 2.05% FDIC 08/02/17 08/02/21 275 2.05% 250,000 253,775 254,168
American Express FSB CD 250,000 2.20% FDIC 09/12/17 09/13/21 317 2.20% 250,000 254,640 255,050
Third Federal Savings & Loan CD 250,000 2.00% FDIC 09/15/17 09/15/21 319 2.00% 250,000 254,230 254,600
Patriot Bank CD 250,000 2.95% FDIC 07/30/18 01/31/22 457 2.95% 250,000 259,008 259,530
Synchrony Bank CD 250,000 2.70% FDIC 03/11/19 03/15/22 500 2.70% 250,000 258,978 259,440
Merrick Bank CD 250,000 2.65% FDIC 03/11/19 03/21/22 506 2.65% 250,000 258,910 259,345
Goldman Sachs Bank CD 250,000 2.30% FDIC 08/02/17 08/02/22 640 2.30% 250,000 259,578 259,980
American Express Centurion CD 250,000 2.35% FDIC 08/22/17 08/22/22 660 2.35% 250,000 259,578 259,850
Capital One Bank USA, NA CD 250,000 2.35% FDIC 08/23/17 08/23/22 661 2.35% 250,000 260,158 260,515
Citibank, NA CD 250,000 3.30% FDIC 07/24/18 07/24/23 996 3.30% 250,000 271,295 271,918
Comenity Capital Bank CD 250,000 3.35% FDIC 10/17/18 10/17/23 1,081 3.35% 250,000 273,313 273,935
UBS Bank USA CD 250,000 3.35% FDIC 10/17/18 10/17/23 1,081 3.35% 250 000 273 313 273 935
4,500,000 4,500,000 4,641,028 4,649,058
!Total Invested Cash I $ 232 909 686 $ 231,286,355 $ 234,9391944 _j_ 238,133,825
Monthly Portfolio Yield: 1.62%
Benchmark Yields:
Current Month LAIF Average: 0.620%
Page 4 of 9
7Account
!Total Cash
11010
Description
Cash and Marketable Securities
Adjustments from Prior Month
I Miscellaneous Accounts
11016 1930's General Store Museum -Bank of America
TREASURER'S MONTHLY REPORT
MISCELLANEOUS AND TRUST ACCOUNTS
October 31, 2020
Yield
Par Value Coupon Rating Maturity to Maturity
$ 231,286,355
8,907 NIA NIA open None
11017 Downpayment Assistance (Housing Fund) -Bank of America 34,238 0 .002 NIA open 0.20%
11018 Save the Plaza -Bank of America 303,657 NIA NIA open None
11019 Airport Parking -Bank of America 427,829 NIA NIA open None
11020 Petty Cash -Various 2,600 NIA NIA open None
11025 Workers Compensation -Bank of America 275,875 NIA NIA open None
11026 General Liability -Bank of America 74,159 NIA NIA open None
jTotal Cash Deposited
Page 5 of 9
Adjusted
Cost Basis
231,286,355
20,669
8 ,907
34,238
303,657
427,829
2,600
275,875
74,159
Category Total
231,307,024
1,127,264
$ 232,434,289
8TREASURER'S MONTHLY REPORT
CASH WITH FISCAL AGENT (BOND ISSUE RESERVE, DEBT SERVICE, AND RELATED FUNDS)
October 31, 2020
Par Coupon Yield Adjusted Category Market Value as of Market Value as of
Acct Description Value Rate Rating Maturity to Maturity Cost Basis Total October 31 2020 Source September 30 2020
11029 2015 Refunding Lease Revenue Bonds
First American Government Obligation 538,875 variable AAA open 0.01% 538,875 538,875 US Bank
11030 2015 Reassessment District No.2015-1
First American Government Obligation 272,307 variable AAA open 0.01% 272,307 272,307 US Bank 272,306
11032 Cash with Fiscal Agent -Conv 04/12
1,719,127 1,719,127 1,719,127 US Bank
11011 Cash with Fiscal Agent -Reserve 2019
Bond Issuance 2,514,333 2,514,333 2,514,333 US Bank 2,514,238
11097 Cash with Fiscal Agent-2019 PFC
Bond Issuance 14,410,717 14,410,717 14,410,717 US Bank 14,312,430
11037 2012 Downtown Revitalization Lease Revenue Bond Reserve
Invesco Government & Agency Private 3,247,961 variable AAA open 0.01% 3,247,961 3,247,961 US Bank 3,247,838
11039 2012/2014 Convention Center
First American Government Obligation 1,788,745 variable AAA open 0.01% 1,788,745 1,788,745 US Bank 4
2015 Local Measure A Sales Tax
11042 First American Government Obligation 627,367 627,367 627,367 627,364
11043 First American Government Obligation 8,664 variable AAA open 0.01% 8,664 8,664 US Bank 8,664
636,031 636,031 636,027
11080 Funds With Century Golf 622,748 N/A NIA demand None 622,748 622,748 Century Golf 795,484
11090 Cash with Fiscal Agent -Refinance 18,315 18,315 18,315 US Bank 18,314
2007A&B Tax Allocation Bonds
11092 First American Government Obligation 811 811 811 811
11096 Cash with Fiscal Agent -2017
130,775 130,775 130,775 US Bank
Total Cash with Fiscal Agent 25,900,744 25,900,744 25,900,744 21,797,454
Page 6 of 9
9TREASURER'S MONTHLY REPORT
CALCULATION OF INVESTMENT LIMITATIONS
October 31, 2020
By Maturity: Minimum
1 day to 365 days N/A
1 year to 3 years N/A
3 years to 5 years N/A
Total:
B~e of Investment:
Bank -Checking/Custody N/A
Bankers Acceptance -in total N/A
Bankers Acceptance -by issuer N/A
Commercial Paper N/A
Time Deposits N/A
Negotiable Certificates of Deposit -in total N/A
Negotiable Certificates of Deposit -by issuer N/A
Corporate Notes -in total NIA
Corporate Notes -by issuer N/A
CA State or City Bonds/Local Agency Bonds -in total N/A
CA State or City Bonds/Local Agency Bonds -by issuer N/A
Money Market Funds N/A
Money Market Mutual Funds -Less than 1 Year N/A
Money Market Mutual Funds -More than 1 Year N/A
LAIF N/A
U.S. Government Agencies N/A
U.S. Treasury Notes/Bonds N/A
Total:
Page 7 of 9
Maximum October 31 1 2020
N/A 57.21%
50.00% 41.29%
30.00% 0.00%
98.50%
100.00% 6.35%
20.00% 0.00%
5.00% 0.00%
15.00% 0.00%
10.00% 0.00%
30.00% 1.93%
5.00% 2.64%
20.00% 0.00%
5.00% 0.00%
15.00% 0.00%
5.00% 0.00%
10.00% 0.00%
50.00% 19.07%
25.00% 0.00%
100.00% 29.76%
60.00% 40.26%
100.00% 0.00%
100.00%
10TREASURER'S MONTHLY REPORT
CALCULATION OF WEIGHTED AVERAGE MATURITY
October 31, 2020
Description Maturity/Called Current No. of Days X Cost
Date Date Days
I On Call Deposits
Checking -Bank of America 10/31/20 1 15,700,096
Union Bank 10/31/20 1 29,471,158
CalTrust ShortTerm 10/31/20 1 37,349,393
Local Agency Invest Fund (LAIF) 10/31/20 1 69,149,888
I short Term Investments (1 year or less)
US Agency Securities
Federal National Mortgage Association 11/24/20 10/31/20 24 12,000,000
Federal National Mortgage Association 02/16/21 10/31/20 353 353,000,000
Federal National Mortgage Association 08/25/21 10/31/20 298 298,000,000
!Medium Term Investments (1 year to 3 years)
US Agency Securities
Federal Home Loan Bank 11/15/21 10/31/20 380 380,000,000
US Treasury Notes 11/30/21 10/31/20 439 1,093,699,906
Federal Home Loan Bank 12/20/21 10/31/20 415 1,264,272,600
US Treasury Notes 12/31/21 10/31/20 439 1,096,682,881
Federal National Mortgage Association 01/05/22 10/31/20 431 1,322,312,310
Federal National Mortgage Association 01/11/22 10/31/20 437 1,357,356,960
Federal Home Loan Mortgage Corporation 01/13/22 10/31/20 439 1,357,747,980
US Treasury Notes 01/31/22 10/31/20 439 1,094,204,071
US Treasury Notes 05/31/22 10/31/20 577 1,813,126,712
Federal Home Loan Mortgage Corporation 06/08/22 10/31/20 585 1,755,877,500
US Treasury Notes 06/15/22 10/31/20 592 1,863,082,975
US Treasury Notes 06/30/22 10/31/20 607 1,910,723,371
US Treasury Notes 07/15/22 10/31/20 622 1,957,125,438
Federal Home Loan Mortgage Corporation 07/25/22 10/31/20 632 1,687,117,364
US Treasury Notes 08/15/22 10/31/20 653 2,045,797,988
US Treasury Notes 08/15/22 10/31/20 653 2,051,477,292
Federal National Mortgage Association 09/06/22 10/31/20 675 2,061,571,500
Federal National Mortgage Association 10/05/22 10/31/20 704 2,176,880,640
US Treasury Notes 10/15/22 10/31/20 439 759,045,829
US Treasury Notes 01/15/23 10/31/20 806 2,636,721,157
Federal National Mortgage Association 01/19/23 10/31/20 810 2,538,621,000
US Treasury Notes 01/31/23 10/31/20 439 768,378,956
Federal Home Loan Bank 02/17/23 10/31/20 839 2,560,891,446
Page 8 of 9
11TREASURER'S MONTHLY REPORT
CALCULATION OF WEIGHTED AVERAGE MATURITY
October 31, 2020
Description Maturity/Called Current No. of Days X Cost
Date Date Days
US Treasury Notes 02/28/23 10/31/20 850 2,784,140,150
US Treasury Notes 03/15/23 10/31/20 865 2,754,421,031
US Treasury Notes 03/31/23 10/31/20 881 2,887,427,618
US Treasury Notes 04/15/23 10/31/20 439 1,100,715,337
Federal Home Loan Mortgage Corporation 06/26/23 10/31/20 592 1,480,458,800
Federal Home Loan Mortgage Corporation 07/10/23 10/31/20 982 2,733,889,473
US Treasury Notes 07/15/23 10/31/20 439 1,096,899,812
Federal Home Loan Mortgage Corporation 08/24/23 10/31/20 1,027 2,128,851,355
Federal Home Loan Mortgage Corporation 10/16/23 10/31/20 1,027 3,069,507,870
I corporate Bonds/Obligations (5 years or less)
Apple Incorporated 02/09/22 10/31/20 466 952,820,880
Apple Incorporated 01/13/23 10/31/20 804 839,593,080
Pepsico Inc 05/01/23 10/31/20 912 922,223,520
Microsoft Corporation 08/08/23 10/31/20 1,011 1,166,100,543
Pepsico Inc 10/07/23 10/31/20 1,071 1,107,853,164
I Negotiable Certificates of Deposit (5 years or less)
First Bank of Highland CD 11/02/20 10/31/20 2 500,000
Barclays Bank CD 11/09/20 10/31/20 9 2,250,000
Investors Bank CD 12/28/20 10/31/20 58 14,500,000
Carver Federal Savings Bank CD 12/29/20 10/31/20 59 14,750,000
Citizens National Bank CD 01/19/21 10/31/20 80 20,000,000
Marlin Business Bank CD 01/19/21 10/31/20 80 20,000,000
Capital One Bank, NA CD 08/02/21 10/31/20 275 68,750,000
American Express FSB CD 09/13/21 10/31/20 317 79,250,000
Third Federal Savings & Loan CD 09/15/21 10/31/20 319 79,750,000
Patriot Bank CD 01/31/22 10/31/20 457 114,250,000
Synchrony Bank CD 03/15/22 10/31/20 500 125,000,000
Merrick Bank CD 03/21/22 10/31/20 506 126,500,000
Goldman Sachs Bank CD 08/02/22 10/31/20 640 160,000,000
American Express Centurion CD 08/22/22 10/31/20 660 165,000,000
Capital One Bank USA, NA CD 08/23/22 10/31/20 661 165,250,000
Citibank, NA CD 07/24/23 10/31/20 996 249,000,000
Comenity Capital Bank CD 10/17/23 10/31/20 1,081 270,250,000
UBS Bank USA CD 10/17/23 10/31/20 1,081 270,250,000
Total Investments at Cost 231,286,355
WAM in Days 282
Page 9 of 9