City of Anaheim FINANCE DEPARTMENT

200 S. Anaheim Blvd. Suite #643 Anaheim, CA 92805 Tel: (714) 765-5195 Fax: (714) 765-5260 www.anaheim.net

CITY COUNCIL AGENDA REPORT

City of Anaheim

FINANCE DEPARTMENT

DATE: NOVEMBER 19, 2019

FROM: FINANCE DEPARTMENT

SUBJECT: INVESTMENT PORTFOLIO REPORT – OCTOBER 2019

ATTACHMENT (Y/N): YES ITEM #

RECOMMENDATION:

That the City Council, by Motion, approve the Investment Portfolio Report for October

2019.

DISCUSSION:

This is the investment report for the City’s general pool for the month ending October 31,

2019. The report is provided to ensure that the City Council is informed as to the

investment activities and fulfills the reporting requirements of the City’s adopted

investment policy.

INVESTMENT SUMMARY:

The following table shows summary investment information for the month ending

October 31, 2019:

Portfolio Balance (Market Value) $566,339,090

Effective Yield 2.35%

Avg. Weighted Maturity 2.21 Years

Net Earnings $1,090,607

Benchmark (Monthly) 1.56%

Benchmark (24MMA)* 2.22% * Benchmark value is 24 Month Moving Average.

INVESTMENT ACTIVITIES:

On December 6, 2017, Standard and Poor (S&P) raised the credit rating of the City’s

Treasurer Investment Portfolio from “AAf” to “AA+f”, and affirmed its “S1” fund

volatility rating. This rating action follows S&P’s review of the City’s portfolio holdings,

liquidity values and the overall management of the investment portfolio in November

2017. The “AA+f” rating signifies that the credit quality of the pool’s exposure is very

strong.

CITY TREASURER’S INVESTMENT REPORT –OCTOBER 2019 November 19, 2019

of 2

On August 11, 2008, the City of Anaheim’s Investment Policy was recognized and

certified by the Association of Professional Treasurers of the United States and Canada

(APT US&C) as meeting all standards and criteria established by the APT US&C.

COMPLIANCE:

All investment holdings are allowable and all investment transactions were executed in

accordance with the California Government Code and the City’s Investment Policy.

There is sufficient liquidity to meet the City’s anticipated expenditure requirements for

the next six months.

A complete listing of the City’s portfolio holdings and investment activity for the month

of October 2019 is included in the attached Monthly Investment Report.

IMPACT ON BUDGET:

There is no budgetary impact. Interest income is allocated in various funds based on the

performance of the Investment Portfolio.

Respectfully submitted,

Deborah A. Moreno

Finance Director/City Treasurer

Attachment:

1. Monthly Investment Report – October 2019

Client Management Team

Rick Phillips President & Chief Investment Officer 702-575-6666 [email protected]

Tonya Dazzio Chief Operating & Compliance Officer 702-575-6592 [email protected]

Greg Balls, CFA Senior Portfolio Manager 702-575-6655 [email protected]

Dan Rusk Portfolio Manager 702-575-6633 [email protected]

Christine Wilson Operations Analyst 702-575-6640 [email protected]

Ruth Phillips Financial Analyst 702-575-6600 [email protected]

Monthly Investment Report

City of Anaheim

October 2019

10655 Park Run Drive Suite 120 | Summerlin, NV 89144 | Phone 702.575.6600 | www.FHNMainStreet.com

Portfolio Summary

FFCBU.S.Treasury

Market Value FHLBBook Value Wells Fargo Govt Inst MMFVariance FHLMC

FNMAPar Value Apple

Met LifeNet Asset Value Honda

LAIFBook Yield Citibank

US BankYears to Maturity Cisco

MicrosoftEffective Duration Disney

Book Value is Amortized

2.35% 2.37%

2.21 2.24

2.14 2.16 1.1%

10/31/2019

SECTOR ALLOCATION MATURITY DISTRIBUTION CREDIT QUALITY (MOODY'S)

City of Anaheim

ACCOUNT SUMMARY MONTH-END PORTFOLIO BOOK YIELD TOP ISSUERS

Issuer % Portfolio 21.8% 21.4% 10.9% 7.2% 5.4% 4.5% 3.9% 3.3% 2.7% 2.6% 2.0% 1.8% 1.8% 1.6%

10/31/19 9/30/19

$566,339,090 $560,384,800 $555,166,081 $550,096,355

$11,173,009 $10,288,446

$555,809,862 $550,796,654

$102.013 $101.870

Agy 42.6%

Corp 24.3%

Supra 0.9%

Tsy 21.4%

LAIF 2.6% CD 0.0%31.1%

12.7%

22.8%

19.4%

13.9%

0%

5%

10%

15%

20%

25%

30%

35%

0-1Y 1-2Y 2-3Y 3-4Y 4-5Y

2.6%

0.0%

5.1%

6.3%

6.5%

0.9%

3.9%

74.8%

0.0%

0% 25% 50% 75% 100%

NR-LAIF

A3

A2

A1

Aa3

Aa2

Aa1

Aaa

P-1

2.15%

2.20%

2.25%

2.30%

2.35%

2.40%

No

v-1

8

De

c-1

8

Jan

-19

Feb

-19

Mar

-19

Ap

r-1

9

May

-19

Jun

-19

Jul-

19

Au

g-1

9

Sep

-19

Oct

-19

NR: Not RatedPer Book ValuePer Book Value

Per Book Value

2

Investment Policy ComplianceCity of Anaheim 10/31/2019

20% limit, 5% per issuer, maximum maturity 5 years.

30% limit, 5% per issuer, maximum maturity 5 years, issued by domestic corporations or depositories,

rated A (S&P), A2 (Moody's), or A (Fitch), by at least two.

$50 million, per account (City has two accounts).

$50 million, per account (City has two accounts).

Commercial Paper

25% limit, 5% per issuer, max maturity 270 days, rated A-1, P-1, or F1 by at least one NRSRO, issued by a

domestic corporation; if company has long-term debt, needs to be rated A (S&P), A2 (Moody's), or A

(Fitch) by one.

Yes:

0.0%

No limit, maximum maturity 5 years.

U.S. Federal Agencies No limit, 40% issuer limit, maximum maturity 5 years.

25% limit, 5% per issuer, maximum maturity 365 days, issued by banks, savings and loans, or state-

licensed branch of a foreign bank.

Yes:

Yes:

0.0%Yes:

Yes: $2 Mil

Item / Sector Parameters

Local Agency Investment Fund #2

Local Agency Investment Fund #1

In Compliance

2.21 YrsYes:

21.4%Yes:

Weighted Average Maturity Weighted Average Maturity (WAM) must be less than 3 years.

U.S. Treasuries

42.6%

$12.2 Mil

Securities' market values are derived from the City's custodian.

Yes

Investment transactions were executed in accordance with the California State Government Code and the City’s Investment Policy. The City believes the Investment

Pool contains sufficient cash flow liquidity to meet the next six months of expected expenditures.

Supranationals20% limit, 10% issuer limit (IFC, IADB, and IBRD), maximum maturity 5 years, Aaa or AAA by at least two

rating agencies.Yes:

Issuer ConcentrationThe aggregate issuer exposure to corporate bonds, commercial paper, negotiable CDs, and bankers'

acceptances cannot exceed 5%.

0.0%

Yes

Corporate Bonds

0.9%

24.3%Yes:

Yes:

Yes: 0.0%

8.3%

Other Municipal Securities 10% limit, 5% per issuer, maximum maturity 5 years.

Money Market Funds 20% limit, 10% issuer limit, rated AAA-m or Aaa-mf by at least two (S&P, Moody's, or Fitch).

Negotiable Certificates of Deposit

State of California Securities

3

Historical Book Values

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun AverageFY 2014 $424.1 $433.1 $418.4 $413.0 $404.1 $419.7 $431.2 $432.5 $422.4 $426.7 $425.2 $426.0 $423.0FY 2015 $383.8 $401.7 $374.4 $375.7 $368.8 $376.3 $402.6 $404.1 $409.3 $420.6 $435.6 $436.6 $399.1FY 2016 $410.1 $405.7 $381.7 $401.9 $415.9 $426.1 $426.8 $452.2 $428.3 $464.4 $464.1 $466.1 $428.6FY 2017 $465.9 $465.7 $466.2 $466.3 $465.0 $480.1 $520.5 $521.5 $506.7 $507.8 $508.9 $518.5 $491.1FY 2018 $481.6 $492.8 $464.1 $464.4 $463.6 $493.7 $502.1 $501.9 $538.0 $553.1 $577.7 $605.1 $511.5FY 2019 $557.2 $551.1 $519.3 $530.4 $563.4 $589.5 $605.3 $616.7 $592.7 $608.9 $641.9 $658.7 $586.3FY 2020 $577.4 $599.2 $550.1 $555.2 $570.5

Figures in Millions, Month End Book Value

City of Anaheim 10/31/2019

$350

$375

$400

$425

$450

$475

$500

$525

$550

$575

$600

$625

$650

$675Ju

l-1

2

Sep

-12

No

v-1

2

Jan

-13

Mar

-13

May

-13

Jul-

13

Sep

-13

No

v-1

3

Jan

-14

Mar

-14

May

-14

Jul-

14

Sep

-14

No

v-1

4

Jan

-15

Mar

-15

May

-15

Jul-

15

Sep

-15

No

v-1

5

Jan

-16

Mar

-16

May

-16

Jul-

16

Sep

-16

No

v-1

6

Jan

-17

Mar

-17

May

-17

Jul-

17

Sep

-17

No

v-1

7

Jan

-18

Mar

-18

May

-18

Jul-

18

Sep

-18

No

v-1

8

Jan

-19

Mar

-19

May

-19

Jul-

19

Sep

-19

No

v-1

9

Jan

-20

Mar

-20

May

-20

Mill

ion

s

4

Historical Book Values Per Fiscal Year

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun AverageFY 2013 $385.4 $397.8 $368.2 $378.1 $371.4 $382.7 $396.9 $415.1 $412.6 $425.4 $438.4 $440.8 $401.1FY 2014 $424.1 $433.1 $418.4 $413.0 $404.1 $419.7 $431.2 $432.5 $422.4 $426.7 $425.2 $426.0 $423.0FY 2015 $383.8 $401.7 $374.4 $375.7 $368.8 $376.3 $402.6 $404.1 $409.3 $420.6 $435.6 $436.6 $399.1FY 2016 $410.1 $405.7 $381.7 $401.9 $415.9 $426.1 $426.8 $452.2 $428.3 $464.4 $464.1 $466.1 $428.6FY 2017 $465.9 $465.7 $466.2 $466.3 $465.0 $480.1 $520.5 $521.5 $506.7 $507.8 $508.9 $518.5 $491.1FY 2018 $481.6 $492.8 $464.1 $464.4 $463.6 $493.7 $502.1 $501.9 $538.0 $553.1 $577.7 $605.1 $511.5FY 2019 $557.2 $551.1 $519.3 $530.4 $563.4 $589.5 $605.3 $616.7 $592.7 $608.9 $641.9 $658.7 $586.3FY 2020 $577.4 $599.2 $550.1 $555.2 $570.5

Figures in Millions, Month End Book Value


$350

$375

$400

$425

$450

$475

$500

$525

$550

$575

$600

$625

$650

$675

Jul

Au

g

Sep

Oct

No

v

De

c

Jan

Feb

Mar

Ap

r

May Jun

Mill

ion

s

FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

5

Weighted Average Maturity and Portfolio Yield

ICE BofAML Index: 0-5Yr Treasury Index


0.0

0.5

1.0

1.5

2.0

2.5

3.0Ju

l-1

2

Oct

-12

Jan

-13

Ap

r-1

3

Jul-

13

Oct

-13

Jan

-14

Ap

r-1

4

Jul-

14

Oct

-14

Jan

-15

Ap

r-1

5

Jul-

15

Oct

-15

Jan

-16

Ap

r-1

6

Jul-

16

Oct

-16

Jan

-17

Ap

r-1

7

Jul-

17

Oct

-17

Jan

-18

Ap

r-1

8

Jul-

18

Oct

-18

Jan

-19

Ap

r-1

9

Jul-

19

Oct

-19

Jan

-20

Ap

r-2

0

Year

s

Weighted Average Maturity History

0.00

0.25

0.50

0.75

1.00

1.25

1.50

1.75

2.00

2.25

2.50

Jul-

12

Oct

-12

Jan

-13

Ap

r-1

3

Jul-

13

Oct

-13

Jan

-14

Ap

r-1

4

Jul-

14

Oct

-14

Jan

-15

Ap

r-1

5

Jul-

15

Oct

-15

Jan

-16

Ap

r-1

6

Jul-

16

Oct

-16

Jan

-17

Ap

r-1

7

Jul-

17

Oct

-17

Jan

-18

Ap

r-1

8

Jul-

18

Oct

-18

Jan

-19

Ap

r-1

9

Jul-

19

Oct

-19

Jan

-20

Ap

r-2

0

Per

cen

t

Month-End Book Yield vs 0-5Yr Treasury Index (30 month avg) vs LAIF (12 month avg)

Portfolio Tsy 0-5Yr LAIF

6

Purchase YTM Per 6-Month Maturity Intervals

Total 2.35% 100.00%

*Based on Book Value

0 to .5 1.91% 16.93%

1.64% 4.68%

1.5 to 2.0 2.18%

3.5 to 4.0 2.95% 13.54%


Years

Purchase

Yield

% of

Portfolio*

4.5 to 5.0 1.93% 4.50%

4.0 to 4.5 2.94% 9.38%

.5 to 1.0 2.03% 12.41%

3.0 to 3.5 2.99% 5.86%

2.0 to 2.5 2.34% 12.03%

2.5 to 3.0 2.39% 12.60%

1.0 to 1.5

8.06%

1.91%

2.03%

1.64%

2.18%

2.34%2.39%

2.99%2.95%

2.94%

1.93%

1.5%

1.7%

1.9%

2.1%

2.3%

2.5%

2.7%

2.9%

3.1%

3.3%

-0.5 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5

Pu

rch

ase

Yie

ld

Maturity Intervals

Bubble Size = Maturity's % of Portfolio

7

Interest Rate Shock Analysis10/31/2019

-100 Basis Points $578,345,478 $12,006,389 2.12%

Interest Rate Change Portfolio Value Value Change Percent Change

City of Anaheim

-75 Basis Points $575,103,753 $8,764,664 1.55%

-50 Basis Points $572,102,156 $5,763,067 1.02%

-25 Basis Points $569,100,559 $2,761,469 0.49%

No Change $566,339,090 $0 0.00%

+25 Basis Points $563,158,529 -$3,180,560 -0.56%

+100 Basis Points $554,106,165 -$12,232,924 -2.16%

+50 Basis Points $559,977,969 -$6,361,121 -1.12%

+75 Basis Points $557,042,067 -$9,297,022 -1.64%

2.12%

1.55%

1.02%

0.49%

0.00%

-0.56%

-1.12%

-1.64%

-2.16%-2.5%

-2.0%

-1.5%

-1.0%

-0.5%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

-100BP -75BP -50BP -25BP No Change +25BP +50BP +75BP +100BP

Per

cen

t C

han

ge in

Po

rtfo

lio V

alu

e

Interest Rate Changes/Scenarios

Instantaneous Interest Rate Changes and Approximate Change in Portfolio's Market Value

8

Next Twelve Months Maturities

Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20

$74.0 $0.0 $10.0 $0.0 $0.0 $10.0 $7.0 $11.0 $10.0 $15.0 $21.0 $15.0

Par Value in Millions

Maturities


$74.0

$0.0

$10.0

$0.0 $0.0

$10.0

$7.0

$11.0 $10.0

$15.0

$21.0

$15.0

$0

$10

$20

$30

$40

$50

$60

$70

$80


Mill

ion

s

9

Historical Sector Allocation


Agency 35.4% 38.9% 41.9% 41.6% 43.4% 42.3% 40.1% 39.1% 46.1% 42.8% 43.0% 42.6%

Supra 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.9%

Treasury 19.3% 18.5% 18.0% 17.7% 18.4% 17.9% 18.5% 18.1% 20.6% 19.9% 21.6% 21.4%

Commercial Paper 6.2% 4.2% 4.1% 2.4% 2.5% 2.4% 2.3% 7.0% 0.0% 0.0% 0.0% 0.0%

Corporates 26.6% 26.3% 27.2% 28.0% 29.2% 28.4% 26.4% 23.5% 26.8% 25.0% 25.4% 24.3%

Negotiable CDs 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

MMF 10.1% 9.8% 6.5% 8.1% 4.2% 6.7% 10.4% 10.3% 4.0% 10.0% 7.4% 8.3%

LAIF 2.5% 2.3% 2.3% 2.3% 2.3% 2.3% 2.2% 2.1% 2.4% 2.4% 2.6% 2.6%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Sector


0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%


AGY

TSY

CP

MMF

LAIF

CORP

Supra

10

Issuer AllocationCity of Anaheim 10/31/2019

0.4%

0.4%

0.9%

0.9%

0.9%

0.9%

0.9%

0.9%

0.9%

1.0%

1.1%

1.6%

1.8%

1.8%

2.0%

2.6%

2.7%

3.3%

3.9%

4.5%

5.4%

7.2%

10.9%

21.4%

21.8%

0% 5% 10% 15% 20% 25%

Visa

MUFG Union Bank

Berkshire Hathaway

IBRD

PNC Bank

BMW

Toyota

Branch Banking & Trust

3M Company

Fidelity Govt MMF

Disney

Microsoft

Cisco

US Bank

Citibank

LAIF

Honda

Met Life

Apple

FNMA

FHLMC

Wells Fargo Govt Inst MMF

FHLB

U.S.Treasury

FFCB

11

Purchase Yield and Weighted Avg MaturityCity of Anaheim 10/31/2019

MMF

LAIF

Agy

Tsy

Corp

Supra

1.50%

1.70%

1.90%

2.10%

2.30%

2.50%

2.70%

-0.25 0.00 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 2.25 2.50 2.75

Bo

ok

Yie

ld

Weighted Average Maturity - Years

Bubble Size = Percent of Portfolio

12

Historical Earnings and Book Rate of Return Performance

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun$373 $744 $1,113 $1,481 $1,849 $2,206 $2,568 $2,922 $3,291 $3,668 $4,034 $4,400$366 $728 $1,092 $1,439 $1,778 $2,105 $2,439 $2,777 $3,113 $3,451 $3,791 $4,134$344 $683 $1,020 $1,339 $1,664 $1,992 $2,300 $2,660 $3,037 $3,424 $3,832 $4,212$423 $851 $1,288 $1,722 $2,150 $2,588 $3,089 $3,604 $4,148 $4,698 $5,266 $5,855$600 $1,180 $1,762 $2,341 $2,925 $3,539 $4,270 $4,861 $5,593 $6,378 $7,214 $8,082$963 $1,890 $2,812 $3,737 $4,688 $5,755 $6,906 $8,023 $9,222 $10,389 $11,610 $12,855

$1,257 $2,365 $3,491 $4,584

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun2.27% 2.29% 2.31% 2.33%

Custom Benchmark* 2.18% 2.20% 2.20% 2.21%0.09% 0.09% 0.11% 0.12%

*Benchmark: ICE BofAML 30 month moving average 0-5yr Treasury, Agency, Corporate A-AAA Index

Book return includes interest received/accrued, amortization of discounts/premiums, and realized gains/losses, and is a good measurement of income generated for the City's interest income budgeting process.

City of Anaheim

Variance

Book Rate of Rtn

Fiscal YTD ($000s)

10/31/2019

FY 2014FY 2015FY 2016FY 2017FY 2018FY 2019FY 2020

$0

$5,000

$10,000

$15,000

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

Tho

usa

nd

s

Fiscal Year-to-Date EarningsFY 2014

FY 2015

FY 2016

FY 2017

FY 2018

FY 2019

FY 2020

2.0%

2.1%

2.2%

2.3%

2.4%

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

Monthly Book Rate of Return vs Benchmark PortfolioBenchmark

13

Total Return

*Index: ICE BAML 0-5 Yr US Treasury Index

**Inception: December 2016

1 Month 3 Month FYTD 1 Year 2 Year Inception

0.37% 1.28% 1.22% 5.72% 3.08% 2.53%

0.31% 1.14% 1.03% 5.16% 2.58% 2.08%

0.06% 0.14% 0.20% 0.56% 0.49% 0.45%


Portfolio

Benchmark*

Variance

Total return includes unrealized gains and losses in its calculation and is a good measurement of portfolio's risk/return compared to the market's risk/return. However, total return can be volatile

with material changes of interest rates. Figures may not total due to rounding. LAIF and the Wells banking sweep account are not inclued in the total return.

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

1 Month 3 Month FYTD 1 Year 2 Year Inception**

Portfolio

Benchmark*

14

Investment Activity

Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-1968 69 71 74 72 71 73 74 73 69 67 65

Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-193 3 3 3 1 0 2 2 1 0 0 22 1 1 3 1 0 1 1 4 2 4 25 4 4 6 2 0 3 3 5 2 4 4


Purchases

Total Transactions

Positions

Redemptions

60

65

70

75

80


Po

siti

on

s

Number of Positions at Month End

0

1

1

2

2

3

3

4

4

5


Nu

mb

er o

f T

ran

sact

ion

s

Purchases and Redemptions* (Excluding LAIF & MMF)Purchases

Redemptions

*Redemptions include maturities, calls, and sells (excluding paydowns)

15

City of AnaheimPortfolio Management

October 31, 2019Portfolio Summary

% ofPortfolio

BookValueInvestments

MarketValue

ParValue

Days toMaturityTerm

YTM360 Equiv.

YTM365 Equiv.

Treasury Securities - Coupon 119,080,703.45 1,43621.45 2.139719120,818,000.00120,000,000.00 2.169Federal Agency Issues - Coupon 236,320,904.74 1,63842.57 2.4611,131243,667,978.00235,800,000.00 2.495LAIF 14,187,271.01 12.56 2.130114,187,271.0114,187,271.01 2.160Money Market Mutual Fund 45,822,590.53 18.25 1.636145,822,590.5345,822,590.53 1.659Medium Term Notes 134,767,330.19 1,40624.28 2.484672136,843,200.00135,000,000.00 2.518Supranationals 4,987,281.06 8350.90 1.7158325,000,050.005,000,000.00 1.739

555,166,080.98 100.00%Investments

566,339,089.54555,809,861.54 1,354 806 2.314 2.347

Current YearOctober 31

1,090,606.68Fiscal Year To Date

4,583,926.95

Average Daily Balance

Effective Rate of Return

550,622,190.22 591,606,615.21

2.30%2.33%

Total Earnings Month Ending

__________________________________________________ ____________________Debbie Moreno, Finance Director

Portfolio CITYAP

Reporting period 10/01/2019-10/31/2019

Run Date: 11/05/2019 - 09:58 PM (PRF_PM1) 7.3.0Report Ver. 7.3.6.1

16

Moody's

Page 1

Par Value Book ValueMaturity

DateStated

RateMarket Value

October 31, 2019Portfolio Details - Investments

AverageBalanceIssuer

Portfolio ManagementCity of Anaheim

S&PYTM365CUSIP Investment #

PurchaseDate

Treasury Securities - Coupon

AaaU.S.Treasury1967 10,000,000.00 9,991,584.86 08/31/20212.00012/27/2016 10,077,300.00 2.048912828D72 AA+AaaU.S.Treasury1968 10,000,000.00 9,993,683.51 11/30/20211.87501/09/2017 10,069,900.00 1.907912828G53 AA+AaaU.S.Treasury1971 10,000,000.00 9,968,464.34 10/31/20201.37501/12/2017 9,976,200.00 1.702912828L99 AA+AaaU.S.Treasury1975 10,000,000.00 9,976,453.14 08/31/20201.37502/22/2017 9,981,300.00 1.668912828L32 AA+AaaU.S.Treasury1988 10,000,000.00 9,895,691.49 10/31/20211.25005/02/2017 9,938,300.00 1.796912828T67 AA+AaaU.S.Treasury1990 10,000,000.00 9,975,694.93 09/30/20201.37505/09/2017 9,977,700.00 1.649912828L65 AA+AaaU.S.Treasury1996 10,000,000.00 10,043,848.08 07/31/20221.87508/30/2017 10,093,400.00 1.7089128282P4 AA+AaaU.S.Treasury2029 10,000,000.00 9,699,606.56 08/15/20221.62506/12/2018 10,030,500.00 2.773912828TJ9 AA+AaaU.S.Treasury2034 10,000,000.00 9,693,153.22 11/15/20221.62506/28/2018 10,032,800.00 2.703912828TY6 AA+AaaU.S.Treasury2048 10,000,000.00 9,957,474.50 07/15/20212.62510/02/2018 10,173,800.00 2.886912828Y20 AA+AaaU.S.Treasury2052 10,000,000.00 9,941,239.37 11/15/20232.75011/27/2018 10,475,000.00 2.907912828WE6 AA+AaaU.S.Treasury2063 10,000,000.00 9,943,809.45 07/15/20201.50005/15/2019 9,991,800.00 2.3149128282J8 AA+

119,080,703.45 2.169120,818,000.00120,000,000.00119,061,877.62Subtotal and Average

Federal Agency Issues - Coupon

AaaFFCB1915 4,000,000.00 4,000,000.00 11/19/20191.60011/19/2015 4,000,000.00 1.6003133EFPR2 AA+AaaFFCB2042 10,000,000.00 9,973,802.46 07/17/20232.87507/27/2018 10,489,800.00 2.9513133EJUS6 AA+AaaFFCB2044 10,000,000.00 9,991,068.31 07/17/20232.87508/07/2018 10,489,800.00 2.9013133EJUS6 AA+AaaFFCB2047 10,000,000.00 9,999,508.06 08/23/20222.80008/23/2018 10,361,100.00 2.8023133EJXW4 AA+AaaFFCB2051 10,000,000.00 10,018,556.18 11/15/20213.05011/27/2018 10,297,700.00 2.9543133EJT74 AA+AaaFFCB2053 20,000,000.00 20,070,921.35 12/06/20233.00012/07/2018 21,161,200.00 2.9063133EJ2B4 AA+AaaFFCB2056 14,800,000.00 14,863,562.87 12/17/20212.80001/04/2019 15,171,628.00 2.5893133EJ3B3 AA+AaaFFCB2059 10,000,000.00 10,093,403.10 07/17/20232.87502/07/2019 10,489,800.00 2.6073133EJUS6 AA+AaaFFCB2060 12,000,000.00 12,009,528.01 02/27/20242.61002/28/2019 12,532,800.00 2.5903133EKBW5 AA+AaaFFCB2067 20,000,000.00 19,944,179.29 07/26/20241.85007/30/2019 20,259,000.00 1.9123133EKWV4 AA+AaaFHLB1997 10,000,000.00 10,009,991.24 09/09/20222.00009/29/2017 10,127,900.00 1.963313380GJ0 AA+AaaFHLB2045 10,000,000.00 10,110,702.99 06/09/20233.25008/09/2018 10,606,100.00 2.918313383QR5 AA+AaaFHLB2049 20,000,000.00 20,184,095.58 09/08/20233.37510/12/2018 21,314,800.00 3.115313383YJ4 AA+AaaFHLB2054 10,000,000.00 10,096,499.85 09/09/20223.12512/21/2018 10,432,000.00 2.766313383WD9 AA+AaaFHLB2057 10,000,000.00 10,132,081.95 09/09/20223.12501/16/2019 10,432,000.00 2.636313383WD9 AA+AaaFHLMC1969 10,000,000.00 9,864,932.14 08/12/20211.12501/10/2017 9,920,500.00 1.9213137EAEC9 AA+AaaFHLMC1993 10,000,000.00 10,000,000.00 06/29/20211.80006/29/2017 10,037,300.00 1.8003134GBUF7 AA+AaaFHLMC2030 10,000,000.00 9,961,567.95 06/19/20232.75006/22/2018 10,421,800.00 2.8643137EAEN5 AA+AaaFNMA1851 5,000,000.00 5,000,005.61 11/26/20191.75012/12/2014 5,000,450.00 1.7483135G0ZY2 AA+AaaFNMA1943 10,000,000.00 10,017,761.26 11/30/20201.50005/03/2016 9,989,900.00 1.3303135G0F73 AA+

Portfolio CITYAP

Run Date: 11/05/2019 - 09:58 PM (PRF_PM2) 7.3.0

Report Ver. 7.3.6.117

Moody's

Page 2


DateStated

RateMarket Value





PurchaseDate


AaaFNMA1998 10,000,000.00 9,978,736.54 10/05/20222.00010/24/2017 10,132,400.00 2.0773135G0T78 AA+


LAIF

LAIF17430 12,236,858.64 12,236,858.64 2.16012,236,858.64 2.160SYS17430LAIF17432 1,950,412.37 1,950,412.37 2.1601,950,412.37 2.160SYS17432


Money Market Mutual Fund

AaaFidelity Govt MMF987 5,796,340.43 5,796,340.43 1.7205,796,340.43 1.720SYS987 AAAAaaWells Fargo Govt Inst MMF2023 40,026,250.10 40,026,250.10 1.65040,026,250.10 1.650SYS2023 AAA


Medium Term Notes

Aa1Apple1991 7,000,000.00 7,000,744.40 05/11/20201.80005/19/2017 7,000,280.00 1.779037833CS7 AA+Aa1Apple2037 10,000,000.00 9,901,383.87 02/23/20232.85007/11/2018 10,310,900.00 3.172037833BU3 AA+Aa1Apple2055 5,000,000.00 4,860,312.98 05/03/20232.40012/21/2018 5,089,300.00 3.261037833AK6 AA+

A1Branch Banking & Trust1972 5,000,000.00 4,999,972.31 01/15/20202.10001/26/2017 5,000,750.00 2.10307330NAN5 AA1BMW1986 5,000,000.00 4,999,024.07 04/06/20202.15004/06/2017 5,005,100.00 2.19705565EAP0 A+

Aa2Berkshire Hathaway2019 5,000,000.00 4,944,324.61 03/15/20232.75003/15/2018 5,150,250.00 3.109084670BR8 AAAa3Citibank2032 5,000,000.00 4,949,616.79 10/20/20202.12506/26/2018 5,010,750.00 3.21117325FAJ7 A+Aa3Citibank2036 6,000,000.00 5,964,230.62 06/12/20202.10007/11/2018 6,008,280.00 3.10717325FAE8 A+

A1Cisco1933 5,000,000.00 5,017,878.44 06/15/20202.45002/12/2016 5,019,100.00 1.84917275RAX0 AA-A1Cisco1970 5,000,000.00 4,960,052.90 09/20/20211.85001/13/2017 5,007,550.00 2.29917275RBJ0 AA-A2Disney1976 6,000,000.00 6,008,627.70 09/17/20202.15003/09/2017 6,017,700.00 1.98025468PDE3 AA2Honda1944 5,000,000.00 5,035,938.13 09/24/20202.45005/17/2016 5,025,900.00 1.61702665WAZ4 AA2Honda2039 5,000,000.00 4,998,648.13 11/13/20192.00007/11/2018 5,000,000.00 2.83102665WBZ3 AA2Honda2068 5,000,000.00 5,031,270.90 09/10/20242.15010/07/2019 5,026,000.00 2.01402665WDD0 A

Aa3Met Life2058 10,000,000.00 10,058,416.06 01/11/20243.60001/30/2019 10,634,200.00 3.44759217GCT4 AA-Aa3Met Life2061 8,000,000.00 7,986,000.69 01/10/20233.00002/28/2019 8,232,320.00 3.05859217GAX7 AA-

A13M Company1936 5,000,000.00 5,019,095.15 08/07/20202.00002/19/2016 5,001,300.00 1.48388579YAQ4 AA-AaaMicrosoft1908 4,000,000.00 3,999,356.44 11/03/20202.00011/03/2015 4,009,640.00 2.017594918BG8 AAAAaaMicrosoft1974 5,000,000.00 4,995,132.64 02/06/20222.40002/06/2017 5,077,300.00 2.446594918BW3 AAA

A2PNC Bank1977 5,000,000.00 4,990,519.42 12/09/20212.55003/20/2017 5,064,500.00 2.64669353REY0 AAa3Toyota1987 5,000,000.00 4,999,646.48 04/17/20201.95004/17/2017 5,002,500.00 1.96689236TDU6 AA-

Portfolio CITYAP

Run Date: 11/05/2019 - 09:58 PM (PRF_PM2) 7.3.0

18

Moody's

Page 3


DateStated

RateMarket Value





PurchaseDate

Medium Term Notes

A2MUFG Union Bank2064 2,000,000.00 2,022,208.12 04/01/20223.15005/16/2019 2,055,740.00 2.66890520EAH4 AA1US Bank1989 5,000,000.00 5,022,757.18 01/24/20222.62505/05/2017 5,080,650.00 2.40791159HHP8 A+A1US Bank2014 5,000,000.00 4,999,743.75 01/23/20202.35001/23/2018 5,003,350.00 2.37390331HNJ8 AA-

Aa3Visa1973 2,000,000.00 2,002,428.41 12/14/20202.20001/30/2017 2,009,840.00 2.08692826CAB8 AA-


Supranationals

AaaIBRD2069 5,000,000.00 4,987,281.06 02/10/20221.62510/29/2019 5,000,050.00 1.739459058DY6 AAA

4,987,281.06 1.7395,000,050.005,000,000.00482,639.60Subtotal and Average

2.347550,622,190.22 555,809,861.54 566,339,089.54 555,166,080.98Total and Average

Portfolio CITYAP

Run Date: 11/05/2019 - 09:58 PM (PRF_PM2) 7.3.0

19

Moody's

Page 4

Par Value Book ValueStated

RateMarket Value

October 31, 2019Portfolio Details - Cash




PurchaseDate

0.00

2.347550,622,190.22 555,809,861.54

Average Balance

566,339,089.54 555,166,080.98Total Cash and Investments

Portfolio CITYAP

Run Date: 11/05/2019 - 09:58 PM (PRF_PM2) 7.3.0

20

City of AnaheimInventory by Maturity Report

October 31, 2019

CurrentRate

ParValue

BookValue

Sec.TypeFund Date

MaturityAmount

Days toTotalDays 360 365

Maturity YTMMaturityCUSIP Investment # Issuer

PurchaseDate

12,236,858.642.16012,236,858.64 12,236,858.6407/01/2019LAIF17430SYS17430 PA101 12.1602.13011,950,412.372.1601,950,412.37 1,950,412.3707/01/2019LAIF17432SYS17432 PA101 12.1602.1301

40,026,250.101.65040,026,250.10 40,026,250.1007/01/2019Wells Fargo Govt Inst MMF2023SYS2023 PA202 11.6501.62715,796,340.431.7205,796,340.43 5,796,340.4307/01/2019Fidelity Govt MMF987SYS987 PA201 11.7201.6961

5,000,000.002.0004,998,648.13 5,000,000.0007/11/2018Honda203902665WBZ3 MTN02 11/13/2019 122.8312.7924904,000,000.001.6004,000,000.00 4,000,000.0011/19/2015FFCB19153133EFPR2 FAC02 11/19/2019 181.6001.5781,4615,000,000.001.7505,000,005.61 5,000,000.0012/12/2014FNMA18513135G0ZY2 FAC02 11/26/2019 251.7481.7241,8105,000,000.002.1004,999,972.31 5,000,000.0001/26/2017Branch Banking & Trust197207330NAN5 MTN02 01/15/2020 752.1032.0741,0845,000,000.002.3504,999,743.75 5,000,000.0001/23/2018US Bank201490331HNJ8 MTN02 01/23/2020 832.3732.3417305,000,000.002.1504,999,024.07 5,000,000.0004/06/2017BMW198605565EAP0 MTN02 04/06/2020 1572.1972.1671,0965,000,000.001.9504,999,646.48 5,000,000.0004/17/2017Toyota198789236TDU6 MTN02 04/17/2020 1681.9661.9391,0967,000,000.001.8007,000,744.40 7,000,000.0005/19/2017Apple1991037833CS7 MTN02 05/11/2020 1921.7791.7551,0886,000,000.002.1005,964,230.62 6,000,000.0007/11/2018Citibank203617325FAE8 MTN02 06/12/2020 2243.1073.0657025,000,000.002.4505,017,878.44 5,000,000.0002/12/2016Cisco193317275RAX0 MTN02 06/15/2020 2271.8491.8241,585

10,000,000.001.5009,943,809.45 10,000,000.0005/15/2019U.S.Treasury20639128282J8 TRC02 07/15/2020 2572.3142.2824275,000,000.002.0005,019,095.15 5,000,000.0002/19/20163M Company193688579YAQ4 MTN02 08/07/2020 2801.4831.4631,631

10,000,000.001.3759,976,453.14 10,000,000.0002/22/2017U.S.Treasury1975912828L32 TRC02 08/31/2020 3041.6681.6451,2866,000,000.002.1506,008,627.70 6,000,000.0003/09/2017Disney197625468PDE3 MTN02 09/17/2020 3211.9801.9521,2885,000,000.002.4505,035,938.13 5,000,000.0005/17/2016Honda194402665WAZ4 MTN02 09/24/2020 3281.6171.5951,591

10,000,000.001.3759,975,694.93 10,000,000.0005/09/2017U.S.Treasury1990912828L65 TRC02 09/30/2020 3341.6491.6271,2405,000,000.002.1254,949,616.79 5,000,000.0006/26/2018Citibank203217325FAJ7 MTN02 10/20/2020 3543.2113.167847

10,000,000.001.3759,968,464.34 10,000,000.0001/12/2017U.S.Treasury1971912828L99 TRC02 10/31/2020 3651.7021.6791,3884,000,000.002.0003,999,356.44 4,000,000.0011/03/2015Microsoft1908594918BG8 MTN02 11/03/2020 3682.0171.9891,827

10,000,000.001.50010,017,761.26 10,000,000.0005/03/2016FNMA19433135G0F73 FAC02 11/30/2020 3951.3301.3121,6722,000,000.002.2002,002,428.41 2,000,000.0001/30/2017Visa197392826CAB8 MTN02 12/14/2020 4092.0862.0581,414

10,000,000.001.80010,000,000.00 10,000,000.0006/29/2017FHLMC19933134GBUF7 FAC02 06/29/2021 6061.8001.7751,46110,000,000.002.6259,957,474.50 10,000,000.0010/02/2018U.S.Treasury2048912828Y20 TRC02 07/15/2021 6222.8862.8461,01710,000,000.001.1259,864,932.14 10,000,000.0001/10/2017FHLMC19693137EAEC9 FAC02 08/12/2021 6501.9211.8951,67510,000,000.002.0009,991,584.86 10,000,000.0012/27/2016U.S.Treasury1967912828D72 TRC02 08/31/2021 6692.0482.0201,708

5,000,000.001.8504,960,052.90 5,000,000.0001/13/2017Cisco197017275RBJ0 MTN02 09/20/2021 6892.2992.2671,71110,000,000.001.2509,895,691.49 10,000,000.0005/02/2017U.S.Treasury1988912828T67 TRC02 10/31/2021 7301.7961.7711,64310,000,000.003.05010,018,556.18 10,000,000.0011/27/2018FFCB20513133EJT74 FAC02 11/15/2021 7452.9542.9141,08410,000,000.001.8759,993,683.51 10,000,000.0001/09/2017U.S.Treasury1968912828G53 TRC02 11/30/2021 7601.9071.8811,786

5,000,000.002.5504,990,519.42 5,000,000.0003/20/2017PNC Bank197769353REY0 MTN02 12/09/2021 7692.6462.6101,72514,800,000.002.80014,863,562.87 14,800,000.0001/04/2019FFCB20563133EJ3B3 FAC02 12/17/2021 7772.5892.5531,078

Portfolio CITYAP

Run Date: 11/05/2019 - 10:13 IM (PRF_IM) 7.1.1Report Ver. 7.3.6.1

21

CurrentRate

ParValue

BookValue

Sec.Type

Page 2

Fund DateMaturityAmount

Days toTotalDays 360 365

Maturity YTMMaturity

Inventory by Maturity ReportCity of Anaheim

CUSIP Investment # IssuerPurchase

Date

5,000,000.002.6255,022,757.18 5,000,000.0005/05/2017US Bank198991159HHP8 MTN02 01/24/2022 8152.4072.3741,7255,000,000.002.4004,995,132.64 5,000,000.0002/06/2017Microsoft1974594918BW3 MTN02 02/06/2022 8282.4462.4121,8265,000,000.001.6254,987,281.06 5,000,000.0010/29/2019IBRD2069459058DY6 NC302 02/10/2022 8321.7391.7158352,000,000.003.1502,022,208.12 2,000,000.0005/16/2019MUFG Union Bank206490520EAH4 MTN02 04/01/2022 8822.6682.6321,051

10,000,000.001.87510,043,848.08 10,000,000.0008/30/2017U.S.Treasury19969128282P4 TRC02 07/31/2022 1,0031.7081.6841,79610,000,000.001.6259,699,606.56 10,000,000.0006/12/2018U.S.Treasury2029912828TJ9 TRC02 08/15/2022 1,0182.7732.7351,52510,000,000.002.8009,999,508.06 10,000,000.0008/23/2018FFCB20473133EJXW4 FAC02 08/23/2022 1,0262.8022.7631,46110,000,000.002.00010,009,991.24 10,000,000.0009/29/2017FHLB1997313380GJ0 FAC02 09/09/2022 1,0431.9631.9361,80610,000,000.003.12510,096,499.85 10,000,000.0012/21/2018FHLB2054313383WD9 FAC02 09/09/2022 1,0432.7662.7281,35810,000,000.003.12510,132,081.95 10,000,000.0001/16/2019FHLB2057313383WD9 FAC02 09/09/2022 1,0432.6362.6001,33210,000,000.002.0009,978,736.54 10,000,000.0010/24/2017FNMA19983135G0T78 FAC02 10/05/2022 1,0692.0772.0481,80710,000,000.001.6259,693,153.22 10,000,000.0006/28/2018U.S.Treasury2034912828TY6 TRC02 11/15/2022 1,1102.7032.6661,601

8,000,000.003.0007,986,000.69 8,000,000.0002/28/2019Met Life206159217GAX7 MTN02 01/10/2023 1,1663.0583.0161,41210,000,000.002.8509,901,383.87 10,000,000.0007/11/2018Apple2037037833BU3 MTN02 02/23/2023 1,2103.1723.1291,688

5,000,000.002.7504,944,324.61 5,000,000.0003/15/2018Berkshire Hathaway2019084670BR8 MTN02 03/15/2023 1,2303.1093.0661,8265,000,000.002.4004,860,312.98 5,000,000.0012/21/2018Apple2055037833AK6 MTN02 05/03/2023 1,2793.2613.2161,594

10,000,000.003.25010,110,702.99 10,000,000.0008/09/2018FHLB2045313383QR5 FAC02 06/09/2023 1,3162.9182.8781,76510,000,000.002.7509,961,567.95 10,000,000.0006/22/2018FHLMC20303137EAEN5 FAC02 06/19/2023 1,3262.8642.8251,82310,000,000.002.8759,973,802.46 10,000,000.0007/27/2018FFCB20423133EJUS6 FAC02 07/17/2023 1,3542.9512.9111,81610,000,000.002.8759,991,068.31 10,000,000.0008/07/2018FFCB20443133EJUS6 FAC02 07/17/2023 1,3542.9012.8611,80510,000,000.002.87510,093,403.10 10,000,000.0002/07/2019FFCB20593133EJUS6 FAC02 07/17/2023 1,3542.6072.5711,62120,000,000.003.37520,184,095.58 20,000,000.0010/12/2018FHLB2049313383YJ4 FAC02 09/08/2023 1,4073.1153.0721,79210,000,000.002.7509,941,239.37 10,000,000.0011/27/2018U.S.Treasury2052912828WE6 TRC02 11/15/2023 1,4752.9072.8671,81420,000,000.003.00020,070,921.35 20,000,000.0012/07/2018FFCB20533133EJ2B4 FAC02 12/06/2023 1,4962.9062.8671,82510,000,000.003.60010,058,416.06 10,000,000.0001/30/2019Met Life205859217GCT4 MTN02 01/11/2024 1,5323.4473.4001,80712,000,000.002.61012,009,528.01 12,000,000.0002/28/2019FFCB20603133EKBW5 FAC02 02/27/2024 1,5792.5902.5551,82520,000,000.001.85019,944,179.29 20,000,000.0007/30/2019FFCB20673133EKWV4 FAC02 07/26/2024 1,7291.9121.8861,823

5,000,000.002.1505,031,270.90 5,000,000.0010/07/2019Honda206802665WDD0 MTN02 09/10/2024 1,7752.0141.9861,800

Subtotal and Average 555,809,861.54 555,809,861.54555,166,080.98 2.314 2.347 806

555,809,861.54 555,809,861.54555,166,080.98Net Maturities and Average 2.314 2.347 806

Portfolio CITYAP

Run Date: 11/05/2019 - 10:13 IM (PRF_IM) 7.1.1Report Ver. 7.3.6.1

22

City of AnaheimCredit Rating Report

October 31, 2019Sorted by Moody's - Investment Number

Security #PurchasePrincipal

BookValueInvestment #

% ofTotal

Moody's RatingIssuer

MarketValue

S&P Rating

PurchaseDate

MaturityDate

Days ToMaturity

StatedRate YTM

11/26/20191851 3135G0ZY2FNMA 12/12/2014Aaa AA+5,000,400.00 5,000,005.61 5,000,450.00 25 1.750 1.748 0.9011/03/20201908 594918BG8MSFT 11/03/2015Aaa AAA3,996,800.00 3,999,356.44 4,009,640.00 368 2.000 2.017 0.7211/19/20191915 3133EFPR2FFCB 11/19/2015Aaa AA+4,000,000.00 4,000,000.00 4,000,000.00 18 1.600 1.600 0.7211/30/20201943 3135G0F73FNMA 05/03/2016Aaa AA+10,075,200.00 10,017,761.26 9,989,900.00 395 1.500 1.330 1.8008/31/20211967 912828D72US 12/27/2016Aaa AA+9,978,515.60 9,991,584.86 10,077,300.00 669 2.000 2.048 1.8011/30/20211968 912828G53US 01/09/2017Aaa AA+9,985,156.25 9,993,683.51 10,069,900.00 760 1.875 1.907 1.8008/12/20211969 3137EAEC9FHLMC 01/10/2017Aaa AA+9,651,900.00 9,864,932.14 9,920,500.00 650 1.125 1.921 1.7810/31/20201971 912828L99US 01/12/2017Aaa AA+9,880,078.10 9,968,464.34 9,976,200.00 365 1.375 1.702 1.8002/06/20221974 594918BW3MSFT 02/06/2017Aaa AAA4,989,250.00 4,995,132.64 5,077,300.00 828 2.400 2.446 0.9008/31/20201975 912828L32US 02/22/2017Aaa AA+9,900,390.60 9,976,453.14 9,981,300.00 304 1.375 1.668 1.8010/31/20211988 912828T67US 05/02/2017Aaa AA+9,765,234.40 9,895,691.49 9,938,300.00 730 1.250 1.796 1.7809/30/20201990 912828L65US 05/09/2017Aaa AA+9,909,765.60 9,975,694.93 9,977,700.00 334 1.375 1.649 1.8006/29/20211993 3134GBUF7FHLMC 06/29/2017Aaa AA+10,000,000.00 10,000,000.00 10,037,300.00 606 1.800 1.800 1.8007/31/20221996 9128282P4US 08/30/2017Aaa AA+10,078,515.60 10,043,848.08 10,093,400.00 1,003 1.875 1.708 1.8109/09/20221997 313380GJ0FHLB 09/29/2017Aaa AA+10,017,300.00 10,009,991.24 10,127,900.00 1,043 2.000 1.963 1.8010/05/20221998 3135G0T78FNMA 10/24/2017Aaa AA+9,964,070.00 9,978,736.54 10,132,400.00 1,069 2.000 2.077 1.80

2023 SYS2023WFGF 07/01/2019Aaa AAA40,026,250.10 40,026,250.10 40,026,250.10 1 1.650 1.650 7.2108/15/20222029 912828TJ9US 06/12/2018Aaa AA+9,550,000.00 9,699,606.56 10,030,500.00 1,018 1.625 2.773 1.7506/19/20232030 3137EAEN5FHLMC 06/22/2018Aaa AA+9,947,200.00 9,961,567.95 10,421,800.00 1,326 2.750 2.864 1.7911/15/20222034 912828TY6US 06/28/2018Aaa AA+9,557,421.90 9,693,153.22 10,032,800.00 1,110 1.625 2.703 1.7507/17/20232042 3133EJUS6FFCB 07/27/2018Aaa AA+9,964,900.00 9,973,802.46 10,489,800.00 1,354 2.875 2.951 1.8007/17/20232044 3133EJUS6FFCB 08/07/2018Aaa AA+9,988,100.00 9,991,068.31 10,489,800.00 1,354 2.875 2.901 1.8006/09/20232045 313383QR5FHLB 08/09/2018Aaa AA+10,148,400.00 10,110,702.99 10,606,100.00 1,316 3.250 2.918 1.8208/23/20222047 3133EJXW4FFCB 08/23/2018Aaa AA+9,999,300.00 9,999,508.06 10,361,100.00 1,026 2.800 2.802 1.8007/15/20212048 912828Y20US 10/02/2018Aaa AA+9,930,468.75 9,957,474.50 10,173,800.00 622 2.625 2.886 1.7909/08/20232049 313383YJ4FHLB 10/12/2018Aaa AA+20,234,400.00 20,184,095.58 21,314,800.00 1,407 3.375 3.115 3.6411/15/20212051 3133EJT74FFCB 11/27/2018Aaa AA+10,027,000.00 10,018,556.18 10,297,700.00 745 3.050 2.954 1.8011/15/20232052 912828WE6US 11/27/2018Aaa AA+9,927,734.38 9,941,239.37 10,475,000.00 1,475 2.750 2.907 1.7912/06/20232053 3133EJ2B4FFCB 12/07/2018Aaa AA+20,086,500.00 20,070,921.35 21,161,200.00 1,496 3.000 2.906 3.6209/09/20222054 313383WD9FHLB 12/21/2018Aaa AA+10,125,600.00 10,096,499.85 10,432,000.00 1,043 3.125 2.766 1.8212/17/20212056 3133EJ3B3FFCB 01/04/2019Aaa AA+14,888,208.00 14,863,562.87 15,171,628.00 777 2.800 2.589 2.6809/09/20222057 313383WD9FHLB 01/16/2019Aaa AA+10,168,700.00 10,132,081.95 10,432,000.00 1,043 3.125 2.636 1.8307/17/20232059 3133EJUS6FFCB 02/07/2019Aaa AA+10,111,860.00 10,093,403.10 10,489,800.00 1,354 2.875 2.607 1.8202/27/20242060 3133EKBW5FFCB 02/28/2019Aaa AA+12,011,016.00 12,009,528.01 12,532,800.00 1,579 2.610 2.590 2.16

Portfolio CITYAP

Run Date: 11/05/2019 - 10:11 CR (PRF_CR) 7.2.0Report Ver. 7.3.6.1

23

Sorted by Moody's - Investment NumberPage 2Credit Rating Report

City of Anaheim



% ofTotal


MarketValue

S&P Rating

PurchaseDate

MaturityDate

Days ToMaturity

StatedRate YTM

07/15/20202063 9128282J8US 05/15/2019Aaa AA+9,906,640.60 9,943,809.45 9,991,800.00 257 1.500 2.314 1.7907/26/20242067 3133EKWV4FFCB 07/30/2019Aaa AA+19,941,200.00 19,944,179.29 20,259,000.00 1,729 1.850 1.912 3.5902/10/20222069 459058DY6IBRD 10/29/2019Aaa AAA4,987,250.00 4,987,281.06 5,000,050.00 832 1.625 1.739 0.90

987 SYS987FIDELI 07/01/2019Aaa AAA5,796,340.43 5,796,340.43 5,796,340.43 1 1.720 1.720 1.04

SubTotal for Aaa 414,517,066.31 415,205,968.86 424,395,558.53 74.802.2952.218873

05/11/20201991 037833CS7APPINC 05/19/2017Aa1 AA+7,004,200.00 7,000,744.40 7,000,280.00 192 1.800 1.779 1.2602/23/20232037 037833BU3APPINC 07/11/2018Aa1 AA+9,862,500.00 9,901,383.87 10,310,900.00 1,210 2.850 3.172 1.7805/03/20232055 037833AK6APPINC 12/21/2018Aa1 AA+4,826,000.00 4,860,312.98 5,089,300.00 1,279 2.400 3.261 0.88

SubTotal for Aa1 21,692,700.00 21,762,441.25 22,400,480.00 3.922.7442.412898

03/15/20232019 084670BR8BRK 03/15/2018Aa2 AA4,917,450.00 4,944,324.61 5,150,250.00 1,230 2.750 3.109 0.89

SubTotal for Aa2 4,917,450.00 4,944,324.61 5,150,250.00 0.893.1092.7501230

12/14/20201973 92826CAB8V 01/30/2017Aa3 AA-2,008,400.00 2,002,428.41 2,009,840.00 409 2.200 2.086 0.3604/17/20201987 89236TDU6TOYCC 04/17/2017Aa3 AA-4,997,700.00 4,999,646.48 5,002,500.00 168 1.950 1.966 0.9010/20/20202032 17325FAJ7C 06/26/2018Aa3 A+4,879,600.00 4,949,616.79 5,010,750.00 354 2.125 3.211 0.8906/12/20202036 17325FAE8C 07/11/2018Aa3 A+5,888,160.00 5,964,230.62 6,008,280.00 224 2.100 3.107 1.0701/11/20242058 59217GCT4METLIF 01/30/2019Aa3 AA-10,068,900.00 10,058,416.06 10,634,200.00 1,532 3.600 3.447 1.8101/10/20232061 59217GAX7METLIF 02/28/2019Aa3 AA-7,983,040.00 7,986,000.69 8,232,320.00 1,166 3.000 3.058 1.44

SubTotal for Aa3 35,825,800.00 35,960,339.05 36,897,890.00 6.472.9902.708819

06/15/20201933 17275RAX0CSCO 02/12/2016A1 AA-5,124,750.00 5,017,878.44 5,019,100.00 227 2.450 1.849 0.9008/07/20201936 88579YAQ4MMM 02/19/2016A1 AA-5,111,250.00 5,019,095.15 5,001,300.00 280 2.000 1.483 0.9009/20/20211970 17275RBJ0CSCO 01/13/2017A1 AA-4,900,750.00 4,960,052.90 5,007,550.00 689 1.850 2.299 0.8901/15/20201972 07330NAN5BBT 01/26/2017A1 A4,999,600.00 4,999,972.31 5,000,750.00 75 2.100 2.103 0.9004/06/20201986 05565EAP0BMW 04/06/2017A1 A+4,993,200.00 4,999,024.07 5,005,100.00 157 2.150 2.197 0.9001/24/20221989 91159HHP8USB 05/05/2017A1 A+5,048,150.00 5,022,757.18 5,080,650.00 815 2.625 2.407 0.9001/23/20202014 90331HNJ8USB 01/23/2018A1 AA-4,997,750.00 4,999,743.75 5,003,350.00 83 2.350 2.373 0.90

SubTotal for A1 35,175,450.00 35,018,523.80 35,117,800.00 6.292.1012.219332

09/24/20201944 02665WAZ4HNDA 05/17/2016A2 A5,174,350.00 5,035,938.13 5,025,900.00 328 2.450 1.617 0.9109/17/20201976 25468PDE3DISNEY 03/09/2017A2 A6,034,620.00 6,008,627.70 6,017,700.00 321 2.150 1.980 1.0812/09/20211977 69353REY0PNCB 03/20/2017A2 A4,978,750.00 4,990,519.42 5,064,500.00 769 2.550 2.646 0.9011/13/20192039 02665WBZ3HNDA 07/11/2018A2 A4,945,700.00 4,998,648.13 5,000,000.00 12 2.000 2.831 0.9004/01/20222064 90520EAH4UNBC 05/16/2019A2 A2,026,420.00 2,022,208.12 2,055,740.00 882 3.150 2.668 0.3609/10/20242068 02665WDD0HNDA 10/07/2019A2 A5,031,700.00 5,031,270.90 5,026,000.00 1,775 2.150 2.014 0.91

SubTotal for A2 28,191,540.00 28,087,212.40 28,189,840.00 5.062.2402.320648

17430 SYS17430LAIF 07/01/2019None None12,236,858.64 12,236,858.64 12,236,858.64 1 2.160 2.160 2.20

Portfolio CITYAP


24

Sorted by Moody's - Investment NumberPage 3Credit Rating Report

City of Anaheim



% ofTotal


MarketValue

S&P Rating

PurchaseDate

MaturityDate

Days ToMaturity

StatedRate YTM

17432 SYS17432LAIF 07/01/2019None None1,950,412.37 1,950,412.37 1,950,412.37 1 2.160 2.160 0.35

SubTotal for No Specified Rating 14,187,271.01 14,187,271.01 14,187,271.01 2.552.1602.1601

Portfolio CITYAP


25

City of AnaheimSummary by Issuer

October 31, 2019

% ofPortfolio

Average Daysto Maturity

ParValueIssuer

Number ofInvestments

AverageYTM 365Book Value

Apple 21,762,441.25 3.92 2.7443 89822,000,000.00

Branch Banking & Trust 4,999,972.31 0.90 2.1031 755,000,000.00

BMW 4,999,024.07 0.90 2.1971 1575,000,000.00

Berkshire Hathaway 4,944,324.61 0.89 3.1091 1,2305,000,000.00

Citibank 10,913,847.41 1.97 3.1542 28311,000,000.00

Cisco 9,977,931.34 1.80 2.0732 45710,000,000.00

Disney 6,008,627.70 1.08 1.9801 3216,000,000.00

FFCB 120,964,529.63 21.79 2.60210 1,269120,800,000.00

FHLB 60,533,371.61 10.90 2.7535 1,21060,000,000.00

FHLMC 29,826,500.09 5.37 2.1953 86130,000,000.00

Fidelity Govt MMF 5,796,340.43 1.04 1.7201 15,796,340.43

FNMA 24,996,503.41 4.50 1.7123 59025,000,000.00

Honda 15,065,857.16 2.71 2.1523 70615,000,000.00

IBRD 4,987,281.06 0.90 1.7391 8325,000,000.00

LAIF 14,187,271.01 2.56 2.1602 114,187,271.01

Met Life 18,044,416.75 3.25 3.2752 1,37018,000,000.00

3M Company 5,019,095.15 0.90 1.4831 2805,000,000.00

Microsoft 8,994,489.08 1.62 2.2552 6239,000,000.00

PNC Bank 4,990,519.42 0.90 2.6461 7695,000,000.00

Toyota 4,999,646.48 0.90 1.9661 1685,000,000.00

MUFG Union Bank 2,022,208.12 0.36 2.6681 8822,000,000.00

U.S.Treasury 119,080,703.45 21.45 2.16912 719120,000,000.00

Portfolio CITYAP

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26

% ofPortfolio

Average Daysto Maturity

ParValue

Page 2Summary by IssuerCity of Anaheim

IssuerNumber of

Investments

October 31, 2019

AverageYTM 365Book Value

US Bank 10,022,500.93 1.81 2.3902 45010,000,000.00

Visa 2,002,428.41 0.36 2.0861 4092,000,000.00

Wells Fargo Govt Inst MMF 40,026,250.10 7.21 1.6501 140,026,250.10

Total and Average 63 555,166,080.98 100.00 2.347 806555,809,861.54

Portfolio CITYAP

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27

October 31, 2019Interest Earnings Summary

Month EndingOctober 31 Fiscal Year To Date


CD/Coupon/Discount Investments:

476,750.00Interest CollectedPlus Accrued Interest at End of PeriodLess Accrued Interest at Beginning of Period

3,058,754.78( 2,574,758.54)

3,874,728.463,058,754.78

( 3,018,230.84)Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00)

Interest Earned during Period

Adjusted by Premiums and DiscountsAdjusted by Capital Gains or Losses

Earnings during Periods

960,746.24

37,569.260.00

3,915,252.40

186,885.65-5,629.24

998,315.50 4,096,508.81

Pass Through Securities:

0.00Interest CollectedPlus Accrued Interest at End of PeriodLess Accrued Interest at Beginning of Period

0.00( 0.00)

0.000.00

( 0.00)Less Accrued Interest at Purchase During Period ( 0.00) ( 0.00)

Interest Earned during Period

Adjusted by Premiums and DiscountsAdjusted by Capital Gains or Losses

Earnings during Periods

0.00

0.000.00

0.00

0.000.00

0.00 0.00

Cash/Checking Accounts:

180,483.14Interest CollectedPlus Accrued Interest at End of PeriodLess Accrued Interest at Beginning of Period

92,287.18( 180,479.14)

600,531.8692,287.18

( 205,400.90)

Interest Earned during Period 92,291.18 487,418.14

Total Interest Earned during Period

Total Adjustments from Premiums and Discounts

Total Capital Gains or Losses

Total Earnings during Period

1,053,037.42

37,569.26

0.00

4,402,670.54

186,885.65

-5,629.24

1,090,606.68 4,583,926.95

Portfolio CITYAP

Run Date: 11/05/2019 - 09:58 PM (PRF_PM6) 7.3.0Report Ver. 7.3.6.1

28

City of AnaheimInterest Earnings

Sorted by Security Type - Maturity DateOctober 1, 2019 - October 31, 2019

Yield on Beginning Book Value

MaturityDate

CurrentRate

EndingPar Value

EndingIssuerFund Book Value

BeginningBook Value

Adjusted Interest Earnings

AccretionAmortization/

EarningsAdjusted InterestAnnualized

YieldCUSIP Investment #InterestEarned

Security Type: Treasury Securities - Coupon

9,943,809.452063 10,000,000.00 1.500US 07/15/2020 12,635.87 6,777.85 19,413.722.30002 9,937,031.609128282J89,976,453.141975 10,000,000.00 1.375US 08/31/2020 11,710.17 2,401.16 14,111.331.66602 9,974,051.98912828L329,975,694.931990 10,000,000.00 1.375US 09/30/2020 11,646.18 2,255.86 13,902.041.64102 9,973,439.07912828L659,968,464.341971 10,000,000.00 1.375US 10/31/2020 11,586.99 2,678.37 14,265.361.68502 9,965,785.97912828L999,957,474.502048 10,000,000.00 2.625US 07/15/2021 22,112.77 2,119.44 24,232.212.86602 9,955,355.06912828Y209,991,584.861967 10,000,000.00 2.000US 08/31/2021 17,032.96 389.94 17,422.902.05302 9,991,194.92912828D729,895,691.491988 10,000,000.00 1.250US 10/31/2021 10,533.63 4,429.54 14,963.171.78102 9,891,261.95912828T679,993,683.511968 10,000,000.00 1.875US 11/30/2021 15,881.14 257.65 16,138.791.90102 9,993,425.86912828G53

10,043,848.081996 10,000,000.00 1.875US 07/31/2022 15,794.84 -1,355.22 14,439.621.69202 10,045,203.309128282P49,699,606.562029 10,000,000.00 1.625US 08/15/2022 13,688.85 9,147.54 22,836.392.77502 9,690,459.02912828TJ99,693,153.222034 10,000,000.00 1.625US 11/15/2022 13,688.85 8,569.59 22,258.442.70602 9,684,583.63912828TY69,941,239.372052 10,000,000.00 2.750US 11/15/2023 23,165.76 1,234.97 24,400.732.89002 9,940,004.40912828WE6

120,000,000.00Subtotal 119,080,703.45 2.160 218,384.7038,906.69179,478.01119,041,796.76

Security Type: Federal Agency Issues - Coupon

4,000,000.001915 4,000,000.00 1.600FFCB 11/19/2019 5,333.33 0.00 5,333.331.57002 4,000,000.003133EFPR25,000,005.611851 5,000,000.00 1.750FNMA 11/26/2019 7,291.67 -6.72 7,284.951.71502 5,000,012.333135G0ZY2

10,017,761.261943 10,000,000.00 1.500FNMA 11/30/2020 12,500.00 -1,369.77 11,130.231.30802 10,019,131.033135G0F7310,000,000.001993 10,000,000.00 1.800FHLMC 06/29/2021 15,000.00 0.00 15,000.001.76602 10,000,000.003134GBUF7

9,864,932.141969 10,000,000.00 1.125FHLMC 08/12/2021 9,375.00 6,321.43 15,696.431.87502 9,858,610.713137EAEC910,018,556.182051 10,000,000.00 3.050FFCB 11/15/2021 25,416.67 -758.43 24,658.242.89802 10,019,314.613133EJT7414,863,562.872056 14,800,000.00 2.800FFCB 12/17/2021 34,533.33 -2,489.40 32,043.932.53802 14,866,052.273133EJ3B3

9,999,508.062047 10,000,000.00 2.800FFCB 08/23/2022 23,333.33 14.59 23,347.922.74902 9,999,493.473133EJXW410,132,081.952057 10,000,000.00 3.125FHLB 09/09/2022 26,041.67 -3,854.53 22,187.142.57702 10,135,936.48313383WD910,096,499.852054 10,000,000.00 3.125FHLB 09/09/2022 26,041.67 -2,816.14 23,225.532.70802 10,099,315.99313383WD910,009,991.241997 10,000,000.00 2.000FHLB 09/09/2022 16,666.67 -291.57 16,375.101.92602 10,010,282.81313380GJ0

9,978,736.541998 10,000,000.00 2.000FNMA 10/05/2022 16,666.66 605.22 17,271.882.03802 9,978,131.323135G0T7810,110,702.992045 10,000,000.00 3.250FHLB 06/09/2023 27,083.33 -2,558.62 24,524.712.85502 10,113,261.61313383QR5

Portfolio CITYAP

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29

MaturityDate

CurrentRate

EndingPar Value

EndingIssuerFund

Page 2

Book ValueBeginning

Book Value



EarningsAdjusted Interest

October 1, 2019 - October 31, 2019Interest EarningsCity of Anaheim

AnnualizedYieldCUSIP Investment #

InterestEarned

Security Type: Federal Agency Issues - Coupon

9,961,567.952030 10,000,000.00 2.750FHLMC 06/19/2023 22,916.66 881.47 23,798.132.81302 9,960,686.483137EAEN59,991,068.312044 10,000,000.00 2.875FFCB 07/17/2023 23,958.34 200.56 24,158.902.84702 9,990,867.753133EJUS6

10,093,403.102059 10,000,000.00 2.875FFCB 07/17/2023 23,958.34 -2,097.37 21,860.972.55002 10,095,500.473133EJUS69,973,802.462042 10,000,000.00 2.875FFCB 07/17/2023 23,958.34 588.27 24,546.612.89802 9,973,214.193133EJUS6

20,184,095.582049 20,000,000.00 3.375FHLB 09/08/2023 56,250.00 -3,981.88 52,268.123.04802 20,188,077.46313383YJ420,070,921.352053 20,000,000.00 3.000FFCB 12/06/2023 50,000.00 -1,442.46 48,557.542.84802 20,072,363.813133EJ2B412,009,528.012060 12,000,000.00 2.610FFCB 02/27/2024 26,100.00 -183.71 25,916.292.54102 12,009,711.723133EKBW519,944,179.292067 20,000,000.00 1.850FFCB 07/26/2024 30,833.33 982.19 31,815.521.87802 19,943,197.103133EKWV4

235,800,000.00Subtotal 236,320,904.74 2.446 491,001.47-12,256.87503,258.34236,333,161.61

Security Type: LAIF

1,950,412.3717432 1,950,412.37 2.160LAIF 3,712.04 0.00 3,712.042.25501 1,938,471.95SYS1743212,236,858.6417430 12,236,858.64 2.160LAIF 23,289.31 0.00 23,289.312.25501 12,161,944.64SYS17430

14,187,271.01Subtotal 14,187,271.01 2.255 27,001.350.0027,001.3514,100,416.59

Security Type: Money Market Mutual Fund

5,796,340.43987 5,796,340.43 1.720FIDELI 7,681.61 0.00 7,681.611.69601 5,332,147.02SYS98740,026,250.102023 40,026,250.10 1.650WFGF 57,608.22 0.00 57,608.221.90702 35,564,090.84SYS2023

45,822,590.53Subtotal 45,822,590.53 1.880 65,289.830.0065,289.8340,896,237.86

Security Type: Medium Term Notes

0.001959 0.00 1.250JDEERE 10/09/2019 1,388.89 72.79 1,461.681.33402 4,999,927.2124422ETJ80.001962 0.00 1.400HONIPP 10/30/2019 5,638.89 106.06 5,744.951.44602 4,999,893.94438516BJ4

4,998,648.132039 5,000,000.00 2.000HNDA 11/13/2019 8,333.34 3,379.67 11,713.012.76102 4,995,268.4602665WBZ34,999,972.311972 5,000,000.00 2.100BBT 01/15/2020 8,750.00 11.22 8,761.222.06302 4,999,961.0907330NAN54,999,743.752014 5,000,000.00 2.350USB 01/23/2020 9,791.67 93.75 9,885.422.32802 4,999,650.0090331HNJ84,999,024.071986 5,000,000.00 2.150BMW 04/06/2020 8,958.34 188.88 9,147.222.15502 4,998,835.1905565EAP04,999,646.481987 5,000,000.00 1.950TOYCC 04/17/2020 8,125.00 63.89 8,188.891.92902 4,999,582.5989236TDU67,000,744.401991 7,000,000.00 1.800APPINC 05/11/2020 10,500.00 -117.54 10,382.461.74602 7,000,861.94037833CS75,964,230.622036 6,000,000.00 2.100C 06/12/2020 10,500.00 4,855.57 15,355.573.03402 5,959,375.0517325FAE85,017,878.441933 5,000,000.00 2.450CSCO 06/15/2020 10,208.34 -2,394.43 7,813.911.83302 5,020,272.8717275RAX05,019,095.151936 5,000,000.00 2.000MMM 08/07/2020 8,333.33 -2,075.56 6,257.771.46702 5,021,170.7188579YAQ46,008,627.701976 6,000,000.00 2.150DISNEY 09/17/2020 10,750.00 -819.08 9,930.921.94602 6,009,446.7825468PDE35,035,938.131944 5,000,000.00 2.450HNDA 09/24/2020 10,208.34 -3,337.91 6,870.431.60502 5,039,276.0402665WAZ44,949,616.792032 5,000,000.00 2.125C 10/20/2020 8,854.17 4,330.94 13,185.113.13902 4,945,285.8517325FAJ73,999,356.441908 4,000,000.00 2.000MSFT 11/03/2020 6,666.67 53.33 6,720.001.97802 3,999,303.11594918BG8

Portfolio CITYAP


30

MaturityDate

CurrentRate

EndingPar Value

EndingIssuerFund

Page 3

Book ValueBeginning

Book Value



EarningsAdjusted Interest

October 1, 2019 - October 31, 2019Interest EarningsCity of Anaheim

AnnualizedYieldCUSIP Investment #

InterestEarned

Security Type: Medium Term Notes

2,002,428.411973 2,000,000.00 2.200V 12/14/2020 3,666.66 -180.77 3,485.892.05002 2,002,609.1892826CAB84,960,052.901970 5,000,000.00 1.850CSCO 09/20/2021 7,708.33 1,764.96 9,473.292.25002 4,958,287.9417275RBJ04,990,519.421977 5,000,000.00 2.550PNCB 12/09/2021 10,625.00 375.22 11,000.222.59502 4,990,144.2069353REY05,022,757.181989 5,000,000.00 2.625USB 01/24/2022 10,937.50 -850.21 10,087.292.36402 5,023,607.3991159HHP84,995,132.641974 5,000,000.00 2.400MSFT 02/06/2022 10,000.00 179.17 10,179.172.39902 4,994,953.47594918BW32,022,208.122064 2,000,000.00 3.150UNBC 04/01/2022 5,250.00 -765.79 4,484.212.61002 2,022,973.9190520EAH47,986,000.692061 8,000,000.00 3.000METLIF 01/10/2023 20,000.00 365.52 20,365.523.00302 7,985,635.1759217GAX79,901,383.872037 10,000,000.00 2.850APPINC 02/23/2023 23,750.00 2,481.94 26,231.943.12002 9,898,901.93037833BU34,944,324.612019 5,000,000.00 2.750BRK 03/15/2023 11,458.33 1,375.83 12,834.163.05702 4,942,948.78084670BR84,860,312.982055 5,000,000.00 2.400APPINC 05/03/2023 10,000.00 3,320.61 13,320.613.22902 4,856,992.37037833AK6

10,058,416.062058 10,000,000.00 3.600METLIF 01/11/2024 30,000.00 -1,160.58 28,839.423.37502 10,059,576.6459217GCT45,031,270.902068 5,000,000.00 2.150HNDA 09/10/2024 7,166.67 -429.10 6,737.571.95502 0.0002665WDD0

135,000,000.00Subtotal 134,767,330.19 2.430 288,457.8510,888.38277,569.47139,724,741.81

Security Type: Supranationals

4,987,281.062069 5,000,000.00 1.625IBRD 02/10/2022 440.42 31.06 471.481.15002 0.00459058DY6

5,000,000.00Subtotal 4,987,281.06 1.150 471.4831.06440.420.00

555,809,861.54Total 555,166,080.98 2.332 1,090,606.6837,569.261,053,037.42550,096,354.63

Portfolio CITYAP


31

City of AnaheimAccrued Interest

Sorted by Security Type - Maturity DateOctober 1, 2019 - October 31, 2019

MaturityDate

SecurityType

CurrentRate

ParValue

* BeginningAccrued Interest

* EndingAccrued Interest

Adjusted Acc'd Int.at Purchase

During PeriodCUSIP Investment #InterestEarned

InterestReceived

Treasury Securities - Coupon

31,793.4820639128282J8 10,000,000.00 1.500TRC 07/15/2020 12,635.87 0.00 44,429.350.0011,710.161975912828L32 10,000,000.00 1.375TRC 08/31/2020 11,710.17 0.00 23,420.330.00

375.681990912828L65 10,000,000.00 1.375TRC 09/30/2020 11,646.18 0.00 12,021.860.0057,540.761971912828L99 10,000,000.00 1.375TRC 10/31/2020 11,586.99 68,750.00 377.750.0055,638.592048912828Y20 10,000,000.00 2.625TRC 07/15/2021 22,112.77 0.00 77,751.360.0017,032.971967912828D72 10,000,000.00 2.000TRC 08/31/2021 17,032.96 0.00 34,065.930.0052,309.781988912828T67 10,000,000.00 1.250TRC 10/31/2021 10,533.63 62,500.00 343.410.0063,012.301968912828G53 10,000,000.00 1.875TRC 11/30/2021 15,881.14 0.00 78,893.440.0031,589.6719969128282P4 10,000,000.00 1.875TRC 07/31/2022 15,794.84 0.00 47,384.510.0020,754.082029912828TJ9 10,000,000.00 1.625TRC 08/15/2022 13,688.85 0.00 34,442.930.0061,379.082034912828TY6 10,000,000.00 1.625TRC 11/15/2022 13,688.85 0.00 75,067.930.00

103,872.282052912828WE6 10,000,000.00 2.750TRC 11/15/2023 23,165.76 0.00 127,038.040.00

507,008.83120,000,000.00Subtotal 555,236.84179,478.01 131,250.000.00


23,466.6719153133EFPR2 4,000,000.00 1.600FAC 11/19/2019 5,333.33 0.00 28,800.000.0030,381.9418513135G0ZY2 5,000,000.00 1.750FAC 11/26/2019 7,291.67 0.00 37,673.610.0050,416.6719433135G0F73 10,000,000.00 1.500FAC 11/30/2020 12,500.00 0.00 62,916.670.0046,000.0019933134GBUF7 10,000,000.00 1.800FAC 06/29/2021 15,000.00 0.00 61,000.000.0015,312.5019693137EAEC9 10,000,000.00 1.125FAC 08/12/2021 9,375.00 0.00 24,687.500.00

115,222.2220513133EJT74 10,000,000.00 3.050FAC 11/15/2021 25,416.67 0.00 140,638.890.00119,715.5620563133EJ3B3 14,800,000.00 2.800FAC 12/17/2021 34,533.33 0.00 154,248.890.00

29,555.5620473133EJXW4 10,000,000.00 2.800FAC 08/23/2022 23,333.33 0.00 52,888.890.0012,222.221997313380GJ0 10,000,000.00 2.000FAC 09/09/2022 16,666.67 0.00 28,888.890.0019,097.222054313383WD9 10,000,000.00 3.125FAC 09/09/2022 26,041.67 0.00 45,138.890.0019,097.222057313383WD9 10,000,000.00 3.125FAC 09/09/2022 26,041.67 0.00 45,138.890.0097,777.7819983135G0T78 10,000,000.00 2.000FAC 10/05/2022 16,666.66 100,000.00 14,444.440.00

101,111.112045313383QR5 10,000,000.00 3.250FAC 06/09/2023 27,083.33 0.00 128,194.440.0077,916.6720303137EAEN5 10,000,000.00 2.750FAC 06/19/2023 22,916.66 0.00 100,833.330.0059,097.2220423133EJUS6 10,000,000.00 2.875FAC 07/17/2023 23,958.34 0.00 83,055.560.0059,097.2220443133EJUS6 10,000,000.00 2.875FAC 07/17/2023 23,958.34 0.00 83,055.560.0059,097.2220593133EJUS6 10,000,000.00 2.875FAC 07/17/2023 23,958.34 0.00 83,055.560.0043,125.002049313383YJ4 20,000,000.00 3.375FAC 09/08/2023 56,250.00 0.00 99,375.000.00

191,666.6720533133EJ2B4 20,000,000.00 3.000FAC 12/06/2023 50,000.00 0.00 241,666.670.00

Portfolio CITYAC

Run Date: 11/05/2019 - 10:06 AI (PRF_AI) 7.2.8Report Ver. 7.3.6.1

* Beginning Accrued may not include investments that redeemed in the previous month that had outstanding accrued interest. Ending Accrued includes outstanding purchase interest.

32

MaturityDate

SecurityType

CurrentRate

ParValue

Sorted by Security Type - Maturity Date Page 2




During Period

Accrued InterestCity of Anaheim

CUSIP Investment #InterestEarned

InterestReceived


29,580.0020603133EKBW5 12,000,000.00 2.610FAC 02/27/2024 26,100.00 0.00 55,680.000.0066,805.5620673133EKWV4 20,000,000.00 1.850FAC 07/26/2024 30,833.33 0.00 97,638.890.00

1,265,762.23235,800,000.00Subtotal 1,669,020.57503,258.34 100,000.000.00

LAIF

74,914.0017430SYS17430 12,236,858.64 2.160PA1 23,289.31 74,914.00 23,289.310.0011,940.4217432SYS17432 1,950,412.37 2.160PA1 3,712.04 11,940.42 3,712.040.00

86,854.4214,187,271.01Subtotal 27,001.3527,001.35 86,854.420.00

Money Market Mutual Fund

20,221.74987SYS987 5,796,340.43 1.720PA2 7,681.61 20,221.74 7,681.610.0073,402.982023SYS2023 40,026,250.10 1.650PA2 57,608.22 73,406.98 57,604.220.00

93,624.7245,822,590.53Subtotal 65,285.8365,289.83 93,628.720.00

Medium Term Notes

29,861.11195924422ETJ8 0.00 1.250MTN 10/09/2019 1,388.89 31,250.00 0.000.0029,361.111962438516BJ4 0.00 1.400MTN 10/30/2019 5,638.89 35,000.00 0.000.0038,333.33203902665WBZ3 5,000,000.00 2.000MTN 11/13/2019 8,333.34 0.00 46,666.670.0022,166.67197207330NAN5 5,000,000.00 2.100MTN 01/15/2020 8,750.00 0.00 30,916.670.0022,194.44201490331HNJ8 5,000,000.00 2.350MTN 01/23/2020 9,791.67 0.00 31,986.110.0052,256.94198605565EAP0 5,000,000.00 2.150MTN 04/06/2020 8,958.34 53,750.00 7,465.280.0044,416.67198789236TDU6 5,000,000.00 1.950MTN 04/17/2020 8,125.00 48,750.00 3,791.670.0049,000.001991037833CS7 7,000,000.00 1.800MTN 05/11/2020 10,500.00 0.00 59,500.000.0038,150.00203617325FAE8 6,000,000.00 2.100MTN 06/12/2020 10,500.00 0.00 48,650.000.0036,069.44193317275RAX0 5,000,000.00 2.450MTN 06/15/2020 10,208.34 0.00 46,277.780.0015,000.00193688579YAQ4 5,000,000.00 2.000MTN 08/07/2020 8,333.33 0.00 23,333.330.00

5,016.67197625468PDE3 6,000,000.00 2.150MTN 09/17/2020 10,750.00 0.00 15,766.670.002,381.94194402665WAZ4 5,000,000.00 2.450MTN 09/24/2020 10,208.34 0.00 12,590.280.00

47,517.36203217325FAJ7 5,000,000.00 2.125MTN 10/20/2020 8,854.17 53,125.00 3,246.530.0032,888.891908594918BG8 4,000,000.00 2.000MTN 11/03/2020 6,666.67 0.00 39,555.560.0013,077.78197392826CAB8 2,000,000.00 2.200MTN 12/14/2020 3,666.66 0.00 16,744.440.00

2,826.39197017275RBJ0 5,000,000.00 1.850MTN 09/20/2021 7,708.33 0.00 10,534.720.0039,666.67197769353REY0 5,000,000.00 2.550MTN 12/09/2021 10,625.00 0.00 50,291.670.0024,427.08198991159HHP8 5,000,000.00 2.625MTN 01/24/2022 10,937.50 0.00 35,364.580.0018,333.331974594918BW3 5,000,000.00 2.400MTN 02/06/2022 10,000.00 0.00 28,333.330.0035,700.00206490520EAH4 2,000,000.00 3.150MTN 04/01/2022 5,250.00 35,700.00 5,250.000.0054,000.00206159217GAX7 8,000,000.00 3.000MTN 01/10/2023 20,000.00 0.00 74,000.000.0030,083.332037037833BU3 10,000,000.00 2.850MTN 02/23/2023 23,750.00 0.00 53,833.330.00

Portfolio CITYAC



33

MaturityDate

SecurityType

CurrentRate

ParValue

Sorted by Security Type - Maturity Date Page 3




During Period

Accrued InterestCity of Anaheim

CUSIP Investment #InterestEarned

InterestReceived

Medium Term Notes

6,111.112019084670BR8 5,000,000.00 2.750MTN 03/15/2023 11,458.33 0.00 17,569.440.0049,333.332055037833AK6 5,000,000.00 2.400MTN 05/03/2023 10,000.00 0.00 59,333.330.0080,000.00205859217GCT4 10,000,000.00 3.600MTN 01/11/2024 30,000.00 0.00 110,000.000.00

0.00206802665WDD0 5,000,000.00 2.150MTN 09/10/2024 7,166.67 0.00 15,229.178,062.50

818,173.59135,000,000.00Subtotal 846,230.56277,569.47 257,575.008,062.50

Supranationals

0.002069459058DY6 5,000,000.00 1.625NC3 02/10/2022 440.42 0.00 18,281.2517,840.83

0.005,000,000.00Subtotal 18,281.25440.42 0.0017,840.83

25,903.33555,809,861.54Total 3,181,056.401,053,037.42 669,308.142,771,423.79

Portfolio CITYAC



34

City of Anaheim

Sorted By Investment TypeSales/Calls/Maturities: October 1, 2019 - October 31, 2019

Realized Gains and Losses

Investment #

Maturity DateCurrent Rate

Par Value

Book ValueMaturity/Sale

ProceedsRealized

Gain/Loss

Sale DateTotal

Earnings Yield 365Inv.Type

PurchaseDate Term

Days Held

Net EarningsTotal Total

Issuer

Medium Term Notes

202,808.335,000,000.0019591.250 10/09/2019

5,000,000.00 5,000,000.00 0.00MTN 10/09/2019 202,808.3309/09/2016 1.3161,1251,125

John Deere

213,950.005,000,000.0019621.400 10/30/2019

5,000,000.00 5,000,000.00 0.00MTN 10/30/2019 213,950.0010/31/2016 1.4281,0941,094

Honeywell

416,758.3310,000,000.00 10,000,000.00 0.00 416,758.33 1.372Medium Term Notes Subtotals

416,758.3310,000,000.00 10,000,000.00 0.00 416,758.33 1.372Total Realized Gains/Losses

Portfolio CITYAP

Run Date: 11/05/2019 - 10:12 CG (PRF_CGR1) 7.1.1Report Ver. 7.3.6.1

35

City of AnaheimTransaction Activity Report

October 1, 2019 - October 31, 2019Sorted by Fund - Transaction Date

All Funds

TotalCashInterest

PrincipalPaydowns

NewPrincipalFundInvestment # IssuerTransactionDateTransactionTypeInv DescripCUSIP

17430 01 74,914.00 74,914.00LAIF10/15/2019InterestLAIF 1.469%SYS1743017430 01 74,914.00 -74,914.00LAIF10/15/2019PurchaseLAIF 1.469%SYS1743017432 01 11,940.42 11,940.42LAIF10/15/2019InterestLAIF 0.385%SYS1743217432 01 11,940.42 -11,940.42LAIF10/15/2019PurchaseLAIF 0.385%SYS17432

Totals for SHORT- TERM PORTFOLIO 86,854.42 86,854.42 0.00

2064 02 35,700.00 35,700.00MUFG Union Bank10/01/2019InterestUNBC 3.15% MAT90520EAH42064 02 12,075.00 -12,075.00 0.00MUFG Union Bank10/01/2019Accr IntUNBC 3.15% MAT90520EAH42068 02 5,039,762.50 -5,039,762.50Honda10/07/2019PurchaseAMERICAN HONDA02665WDD01986 02 53,750.00 53,750.00BMW10/07/2019InterestBMW 2.15% MAT05565EAP01998 02 100,000.00 100,000.00FNMA10/07/2019InterestFEDERAL NATL MTG3135G0T781959 02 5,000,000.00 5,000,000.00John Deere10/09/2019RedemptionJDEERE 1.25% MAT24422ETJ81959 02 31,250.00 31,250.00John Deere10/09/2019InterestJDEERE 1.25% MAT24422ETJ81987 02 48,750.00 48,750.00Toyota10/17/2019InterestTOYCC 1.95% MAT89236TDU62032 02 53,125.00 53,125.00Citibank10/21/2019InterestC 2.125% MAT17325FAJ72069 02 5,005,090.83 -5,005,090.83IBRD10/29/2019PurchaseIBRD 1.625% MAT459058DY61962 02 5,000,000.00 5,000,000.00Honeywell10/30/2019RedemptionHONIPP 1.4% MAT438516BJ41962 02 35,000.00 35,000.00Honeywell10/30/2019InterestHONIPP 1.4% MAT438516BJ41971 02 68,750.00 68,750.00U.S.Treasury10/31/2019InterestUNITED STATES912828L991988 02 62,500.00 62,500.00U.S.Treasury10/31/2019InterestUNITED STATES912828T67

Totals for LONG-TERM PORTFOLIO 10,044,853.33 10,012,075.00 476,750.00 443,971.67

Grand Total 10,131,707.75 10,012,075.00 563,604.42 443,971.67

Portfolio CITYAP

Run Date: 11/05/2019 - 10:17 TA (PRF_TA) 7.1.1Report Ver. 7.3.6.1

36

Monthly Economic and Market Update

October 2019

37

Economic and Market Update

*Estimates for the current quarter/month, some data are lagged Sources: FHN Main Street and Bloomberg

Case-Shiller Home Prices YOY* 2.0% 2.0% 0.0%

Consumer Confidence 125.9 126.3 (0.4)

Gold (per ounce) $1,512.99 $1,472.49 $40.50

Dollar Index 97.35 99.38 (2.02)

U.S. Avg Regular Unleaded $2.61 $2.66 ($0.04)

Retail Sales YOY* 2.9% 4.1% (1.2%)

S&P 500 3,038 2,977 2.0%

Consumer Price Index YOY* 1.9% 1.7% 0.2%

1-5 Yr A-AAA Corporate Spread 0.43% 0.44% (0.01%)

Dow Jones 27,046 26,917 0.5%

30 Year Mortgage Rate 3.75% 3.72% 0.03%

1-5 Yr Agency Spread 0.06% 0.05% 0.01%

10 Year T-Note 1.69% 1.67% 0.03%

U.S. Fed Debt Avg Yield* 2.52% 2.44% 0.08%

3 Year T-Note 1.52% 1.56% (0.04%)

5 Year T-Note 1.52% 1.55% (0.02%)

2 Year T-Note 1.53% 1.62% (0.10%)

3 Month T-Bill 1.54% 1.82% (0.28%)

Labor Force Participation 63.3% 63.2% 0.1%

Effective Fed Funds Rate 1.58% 1.90% (0.32%)

U.S. Payrolls Monthly Change 128,000 180,000 (52,000)

Unemployment Rate 3.6% 3.5% 0.1%

10/31/19

Item 10/31/19 9/30/19 Change

38


* Real Rate (Inflation Adjusted)

Source: Bureau of Economic Analysis

Estimate: Bloomberg's Survey of Economists

As of: 10/31/19

10/31/19

-1.0

2.9

-0.1

4.7

3.2

1.7

0.5

0.5

3.6

0.5

3.2

3.2

-1.1

5.5

5.0

2.3

3.2

3.0

1.3

0.1

2.0

1.9 2

.2

2.0 2

.3

2.2

3.2 3

.5

2.5

3.5

2.9

1.1

3.1

2.0

1.9

1.7

1.6 1

.8

1.8

-2

-1

0

1

2

3

4

5

6

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

Q3

20

17

Q4

20

17

Q1

20

18

Q2

20

18

Q3

20

18

Q4

20

18

Q1

20

19

Q2

20

19

Q3

20

19

Q4

20

19

Q1

20

20

Q2

20

20

Q3

20

20

Pe

rce

nt

U.S. GDP (Quarter over Quarter Annualized)*

Estimates

39


Source: Bureau of Labor Statistics

12 Month Average Job Change 174,417

10/31/19

0

50

100

150

200

250

300

350

400

Ap

r-1

5

Jul-

15

Oct

-15

Jan

-16

Ap

r-1

6

Jul-

16

Oct

-16

Jan

-17

Ap

r-1

7

Jul-

17

Oct

-17

Jan

-18

Ap

r-1

8

Jul-

18

Oct

-18

Jan

-19

Ap

r-1

9

Jul-

19

Oct

-19

Tho

usa

nd

s

U.S. Monthly Non-Farm Payrolls Change

2

3

4

5

6

7

8

Ap

r-1

5

Jul-

15

Oct

-15

Jan

-16

Ap

r-1

6

Jul-

16

Oct

-16

Jan

-17

Ap

r-1

7

Jul-

17

Oct

-17

Jan

-18

Ap

r-1

8

Jul-

18

Oct

-18

Jan

-19

Ap

r-1

9

Jul-

19

Oct

-19

Pe

rce

nt

Unemployment RatesNevada

U.S.A

California

Idaho

Washington

Hawaii

40


Source: Bureau of Labor Statistics

10/31/19

128129130131132133134135136137138139140141142143144145146147148149150151152153154

Oct

-09

May

-10

De

c-1

0

Jul-

11

Feb

-12

Sep

-12

Ap

r-1

3

No

v-1

3

Jun

-14

Jan

-15

Au

g-1

5

Mar

-16

Oct

-16

May

-17

De

c-1

7

Jul-

18

Feb

-19

Sep

-19

Mill

ion

s

U.S. Number of EmployedFull-Time and Part-TIme

62.0

62.5

63.0

63.5

64.0

64.5

65.0

65.5

Oct

-09

May

-10

De

c-1

0

Jul-

11

Feb

-12

Sep

-12

Ap

r-1

3

No

v-1

3

Jun

-14

Jan

-15

Au

g-1

5

Mar

-16

Oct

-16

May

-17

De

c-1

7

Jul-

18

Feb

-19

Sep

-19

Pe

rce

nt

U.S. Labor Force Participation Rate

41


Source: Department of Labor and Bloomberg

10/31/19

Weekly Initial Jobless Claims is the actual number of people who have filed for Unemployment benefits for the first time. The following five eligibility criteria must be met in order to file for

unemployment benefits: 1. Meet the requirements of time worked during a 1 year period (full time or not). 2. Become unemployed through no fault of your own (cannot be fired). 3. Must

be able to work; no physical or mental holdbacks. 4. Must be available for work. 5. Must be actively seeking work.

200

250

300

350

400

450

500

550

600

650

700

19

92

19

93

19

94

19

95

19

96

19

97

19

98

19

99

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

20

10

20

11

20

12

20

13

20

14

20

15

20

16

20

17

20

18

Tho

usa

nd

s

Weekly Initial Jobless Claims (4 Week Moving Average)

42


*Real: Inflation Adjusted

Source: U.S. Census Bureau Source: Conference Board

10/31/19

-0.6-0.4-0.2

00.20.40.60.8

11.21.41.61.8

22.22.42.62.8

33.23.43.63.8

44.2

Ap

r-1

5

Jul-

15

Oct

-15

Jan

-16

Ap

r-1

6

Jul-

16

Oct

-16

Jan

-17

Ap

r-1

7

Jul-

17

Oct

-17

Jan

-18

Ap

r-1

8

Jul-

18

Oct

-18

Jan

-19

Ap

r-1

9

Jul-

19

Pe

rce

nt

U.S. Real* Retail Sales YOY % Change

20

40

60

80

100

120

140

Ap

r-0

9

Oct

-09

Ap

r-1

0

Oct

-10

Ap

r-1

1

Oct

-11

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6

Oct

-16

Ap

r-1

7

Oct

-17

Ap

r-1

8

Oct

-18

Ap

r-1

9

Oct

-19

Ind

ex

Val

ue

U.S. Consumer Confidence

43


CPIX: Consumer Price Index, excluding food and energy PCEC: Personal Consumption Expenditure Core

Source: Bureau of Labor Statistics and Bureau of Economic Analysis

10/31/19

-0.5

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

Ap

r-1

5

Jul-

15

Oct

-15

Jan

-16

Ap

r-1

6

Jul-

16

Oct

-16

Jan

-17

Ap

r-1

7

Jul-

17

Oct

-17

Jan

-18

Ap

r-1

8

Jul-

18

Oct

-18

Jan

-19

Ap

r-1

9

Jul-

19

Pe

rce

nt

CPI and CPIX YOY % Change

CPI CPIX

0.0

0.5

1.0

1.5

2.0

2.5

3.0

Ap

r-1

5

Jul-

15

Oct

-15

Jan

-16

Ap

r-1

6

Jul-

16

Oct

-16

Jan

-17

Ap

r-1

7

Jul-

17

Oct

-17

Jan

-18

Ap

r-1

8

Jul-

18

Oct

-18

Jan

-19

Ap

r-1

9

Jul-

19

Pe

rce

nt

PCE and PCEC YOY % ChangePCE PCEC

44


Sources: New (U.S. Census Bureau),Existing (National Assoc. of Realtors)

Source: Case-Shiller Seasonally Adjusted Annual Rate

10/31/19

-6

-4

-2

0

2

4

6

8

10

12

14

May

-11

Oct

-11

Mar

-12

Au

g-1

2

Jan

-13

Jun

-13

No

v-1

3

Ap

r-1

4

Sep

-14

Feb

-15

Jul-

15

Dec

-15

May

-16

Oct

-16

Mar

-17

Au

g-1

7

Jan

-18

Jun

-18

No

v-1

8

Ap

r-1

9

YO

Y P

erc

en

t

Case-Shiller 20 City U.S. Home Price IndexYOY % Increase

200

300

400

500

600

700

800

3.0

3.5

4.0

4.5

5.0

5.5

6.0

Ap

r-1

1

Oct

-11

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6

Oct

-16

Ap

r-1

7

Oct

-17

Ap

r-1

8

Oct

-18

Ap

r-1

9

Ne

w-T

ho

usa

nd

s

Exis

tin

g-M

illio

ns

U.S. New and Existing Home Sales

Existing-Left

New-Right

45


Source: U.S. Treasury

10/31/19

$9

$10

$11

$12

$13

$14

$15

$16

$17

$18

$19

$20

$21

$22

$23

$24

Oct

-09

Ap

r-1

0

Oct

-10

Ap

r-1

1

Oct

-11

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6

Oct

-16

Ap

r-1

7

Oct

-17

Ap

r-1

8

Oct

-18

Ap

r-1

9

Trill

ion

s

U.S. Federal Debt Outstanding

1.9

2.0

2.1

2.2

2.3

2.4

2.5

2.6

2.7

Oct

-09

Ap

r-1

0

Oct

-10

Ap

r-1

1

Oct

-11

Ap

r-1

2

Oct

-12

Ap

r-1

3

Oct

-13

Ap

r-1

4

Oct

-14

Ap

r-1

5

Oct

-15

Ap

r-1

6

Oct

-16

Ap

r-1

7

Oct

-17

Ap

r-1

8

Oct

-18

Ap

r-1

9

Pe

rce

nt

U.S. Treasury Interest Bearing Debt Avg Rate

46


Fed Funds Anticipated Rate from the September 18, 2019 FOMC Meeting

Source: Bloomberg

10/31/19

0.80

1.00

1.20

1.40

1.60

1.80

2.00

2.20

No

v-2

01

9

Dec

-20

19

Jan

-20

20

Feb

-20

20

Mar

-20

20

Ap

r-2

02

0

May

-20

20

Jun

-20

20

Jul-

20

20

Au

g-2

02

0

Sep

-20

20

Oct

-20

20

No

v-2

02

0

Dec

-20

20

Jan

-20

21

Feb

-20

21

Mar

-20

21

Ap

r-2

02

1

May

-20

21

Jun

-20

21

Jul-

20

21

Au

g-2

02

1

Sep

-20

21

Oct

-20

21

No

v-2

02

1

Dec

-20

21

Jan

-20

22

Feb

-20

22

Mar

-20

22

Ap

r-2

02

2

May

-20

22

Jun

-20

22

Jul-

20

22

Au

g-2

02

2

Sep

-20

22

Oct

-20

22

Pe

rce

nt

Fed Funds vs. Fed's Anticipated Fed Funds Rate (Fed Dots)

Fed's Anticipated Rates

Fed Funds Futures

47


Source: Bloomberg

Figures may not total due to rounding

10/31/19

3Y 1.56 1.52 -0.04

30Y 2.11 2.18 0.07

5Y 1.55 1.52 -0.02

10Y

1.82

1.67 1.69 0.03

Change10/31/199/30/19

3M

Maturity

-0.101.531.622Y

-0.251.511.761Y

-0.261.561.826M

-0.281.54

1.3

1.4

1.5

1.6

1.7

1.8

1.9

2.0

2.1

2.2

2.3

3M 6M 1Y 2Y 3Yr 5Y 10Y 30Y

Pe

rce

nt

U.S. Treasury Yield Curve Change

10/31/19

9/30/19

-30

-25

-20

-15

-10

-5

0

5

10

3M

6M 1Y

2Y

3Yr 5Y

10

Y

30

Y

Bas

is P

oin

ts

Basis Point Change

48


Source: Bloomberg

10/31/19

-0.25

0.00

0.25

0.50

0.75

1.00

1.25

1.50

1.75

2.00

2.25

2.50

2.75

Oct

-14

Jan

-15

Ap

r-1

5

Jul-

15

Oct

-15

Jan

-16

Ap

r-1

6

Jul-

16

Oct

-16

Jan

-17

Ap

r-1

7

Jul-

17

Oct

-17

Jan

-18

Ap

r-1

8

Jul-

18

Oct

-18

Jan

-19

Ap

r-1

9

Jul-

19

Oct

-19

Pe

rce

nt

U.S. Treasury Yields: 3M and 1Y

1Y

3M

0.00

0.25

0.50

0.75

1.00

1.25

1.50

1.75

2.00

2.25

2.50

2.75

3.00

3.25

Oct

-14

Jan

-15

Ap

r-1

5

Jul-

15

Oct

-15

Jan

-16

Ap

r-1

6

Jul-

16

Oct

-16

Jan

-17

Ap

r-1

7

Jul-

17

Oct

-17

Jan

-18

Ap

r-1

8

Jul-

18

Oct

-18

Jan

-19

Ap

r-1

9

Jul-

19

Oct

-19

Pe

rce

nt

U.S. Treasury Yields: 2Y and 5Y

5Y

2Y

49


Source: Bloomberg

10/31/19

0

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

Jan

-54

Jan

-56

Jan

-58

Jan

-60

Jan

-62

Jan

-64

Jan

-66

Jan

-68

Jan

-70

Jan

-72

Jan

-74

Jan

-76

Jan

-78

Jan

-80

Jan

-82

Jan

-84

Jan

-86

Jan

-88

Jan

-90

Jan

-92

Jan

-94

Jan

-96

Jan

-98

Jan

-00

Jan

-02

Jan

-04

Jan

-06

Jan

-08

Jan

-10

Jan

-12

Jan

-14

Jan

-16

Jan

-18

Jan

-20

Pe

rce

nt

U.S. Treasury Yields 2Yr and 5Yr - Fed Funds Target Rate

5Yr

2Yr

Fed Funds

50


Source: Bloomberg

10/31/19

Global Treasury Rates

2 Year Yields 5 Year Yields 10 Year Yields

-0.80%

-0.67%

-0.63%

-0.56%

-0.43%

-0.24%

-0.22%

0.50%

0.82%

1.52%

1.52%

-4.0% -2.0% 0.0% 2.0% 4.0%

Switzlnd

Germany

France

Portugal

Spain

Japan

Italy

England

Australia

Canada

USA

-0.75%

-0.63%

-0.44%

-0.27%

-0.21%

-0.21%

0.31%

0.43%

0.85%

1.42%

1.52%

-4.0% -2.0% 0.0% 2.0% 4.0%

Switzlnd

Germany

France

Japan

Portugal

Spain

Italy

England

Australia

Canada

USA

-0.59%

-0.41%

-0.14%

-0.10%

0.16%

0.23%

0.63%

0.92%

1.14%

1.41%

1.69%

-2.0% 0.0% 2.0%

Switzlnd

Germany

Japan

France

Portugal

Spain

England

Italy

Australia

Canada

USA

51


ICE BofAML Index (option adjusted spread vs. Treasury) ICE BofAML Index (option adjusted spread vs. Treasury)

1-5Yr Non-Callable Agency (GVPB) Corporate A-AAA Excluding Yankee (CVAC)

Source: ICE BofAML Indices

10/31/19

Current Spread is 6 Current Spread is 43

0

50

100

150

200

250

300

350

400

450

500

550

600

650

Sep

-05

Sep

-06

Sep

-07

Sep

-08

Sep

-09

Sep

-10

Sep

-11

Sep

-12

Sep

-13

Sep

-14

Sep

-15

Sep

-16

Sep

-17

Sep

-18

Sep

-19

Bas

is P

oin

ts

Spread: 1-5Yr Agency vs Treasury

0

50

100

150

200

250

300

350

400

450

500

550

600

650

Sep

-05

Sep

-06

Sep

-07

Sep

-08

Sep

-09

Sep

-10

Sep

-11

Sep

-12

Sep

-13

Sep

-14

Sep

-15

Sep

-16

Sep

-17

Sep

-18

Sep

-19

Bas

is P

oin

ts

Spread: 1-5Yr A-AAA Corporate vs Treasury

52


*ICE BofAML Index (option adjusted spread vs. Treasury) *ICE BofAML Index (option adjusted spread vs. Treasury)

AAA Rated ABS (R0A1) CMO Agency 0-3Yr PAC (CM1P)

Source: ICE BofAML Indices

10/31/19

Current Spread is 47 Current Spread is 37

0

50

100

150

200

250

300

350

400

450

500

550

600

650

700

750

800

Sep

-05

Sep

-06

Sep

-07

Sep

-08

Sep

-09

Sep

-10

Sep

-11

Sep

-12

Sep

-13

Sep

-14

Sep

-15

Sep

-16

Sep

-17

Sep

-18

Sep

-19

Bas

is P

oin

ts

Spread: AAA Asset Backed vs Treasury

-150

-100

-50

0

50

100

150

200

250

300

Sep

-05

Sep

-06

Sep

-07

Sep

-08

Sep

-09

Sep

-10

Sep

-11

Sep

-12

Sep

-13

Sep

-14

Sep

-15

Sep

-16

Sep

-17

Sep

-18

Sep

-19

Bas

is P

oin

ts

Spread: 0-3Yr Agency CMO vs Treasury

53


Source: Bloomberg

10/31/19

-1.9

-1.1

-0.4-0.1 0.0

0.2 0.2 0.3 0.3 0.5 0.5

1.1 1.1

2.0 2.1 2.22.6 2.6

3.4

3.9 4.14.4

(3)

(2)

(1)

0

1

2

3

4

5

Per

cen

t

Selected Sector Monthly Total Returns

54


Source: Bloomberg

10/31/19

-18.1

-3.9 -3.2

2.5 3.3 4.1 4.57.5 8.5 8.7 9.0 9.1 10.1 11.3 11.5

13.7 14.3 14.417.1

23.9 24.927.5

(30)

(20)

(10)

0

10

20

30

Per

cen

t

Selected Sector Year-Over-Year Total Returns

55


Source: Bloomberg, FHN Main Street

10/31/19

1.30

1.35

1.40

1.45

1.50

1.55

1.60

1.65

1.70

9/3

0/1

9

10

/1/1

9

10

/2/1

9

10

/3/1

9

10

/4/1

9

10

/5/1

9

10

/6/1

9

10

/7/1

9

10

/8/1

9

10

/9/1

9

10

/10

/19

10

/11

/19

10

/12

/19

10

/13

/19

10

/14

/19

10

/15

/19

10

/16

/19

10

/17

/19

10

/18

/19

10

/19

/19

10

/20

/19

10

/21

/19

10

/22

/19

10

/23

/19

10

/24

/19

10

/25

/19

10

/26

/19

10

/27

/19

10

/28

/19

10

/29

/19

10

/30

/19

10

/31

/19

Pe

rce

nt

5 Year Treasury Note Yield

Poor ISM Non-Manufacturing

Exacerbates Concerns

Potential Trade and Brexit Deals Boosts Confidence

Optimism on Partial Trade Deal

Weaker Than Expected Chicago PMI Pushes Rates Lower After Fed Rate Cut

Retail Sales Unexpectedly Fall

Reports Surface on Brexit Deal

ISM Manufacturing Prints Weakest Reading in 10 Years

56


NI USS

Source: Bloomberg, FHN Main Street

10/31/19

25,900

26,100

26,300

26,500

26,700

26,900

27,100

27,300

9/3

0/1

9

10

/1/1

9

10

/2/1

9

10

/3/1

9

10

/4/1

9

10

/5/1

9

10

/6/1

9

10

/7/1

9

10

/8/1

9

10

/9/1

9

10

/10

/19

10

/11

/19

10

/12

/19

10

/13

/19

10

/14

/19

10

/15

/19

10

/16

/19

10

/17

/19

10

/18

/19

10

/19

/19

10

/20

/19

10

/21

/19

10

/22

/19

10

/23

/19

10

/24

/19

10

/25

/19

10

/26

/19

10

/27

/19

10

/28

/19

10

/29

/19

10

/30

/19

10

/31

/19

Dow Jones Industrial Average

China GDP Shows Weakness

Unemployment Rate Falls to 50

Year Low

S&P Closes at Record Level on Strong Earnings and

Trade Optimism

Negative Manufacturing Data Increases Recession Fears

Agreement With China to Move to Next Phase

in Trade Deal

Fed Chairman Powell States No Further Rate Hike Until

Inflation Picks Up

Optimism on China Trade Deal Fades

Stronger Than Expected Earnings

57

Disclosure

This report represents the opinions of FHN Financial Main Street Advisors, LLC and should not be considered predictive of any future market performance. Opinions are subject to change without notice. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered investment advice or a recommendation of any particular security, investment strategy, or investment product.

Although this information has been obtained from sources which we believe to be reliable, we do not guarantee its accuracy, and it may be incomplete or condensed. This is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. All herein listed securities are subject to availability and change in price. Past performance is not indicative of future results, and changes in any assumptions may have a material effect on projected results. Ratings on all securities are subject to change.

FHN Financial Capital Markets, FHN Financial Portfolio Advisors, and FHN Financial Municipal Advisors are divisions of First Horizon Bank. FHN Financial Securities Corp., FHN Financial Main Street Advisors, LLC, and FHN Financial Capital Assets Corp. are wholly owned subsidiaries of First Horizon Bank. FHN Financial Securities Corp. is a member of FINRA and SIPC — http://www.sipc.org/.

FHN Financial Municipal Advisors is a registered municipal advisor. FHN Financial Portfolio Advisors is a portfolio manager operating under the trust powers of First Horizon Bank. FHN Financial Main Street Advisors, LLC is a registered investment advisor. None of the other FHN entities, including FHN Financial Capital Markets, FHN Financial Securities Corp., or FHN Financial Capital Assets Corp. are acting as your advisor, and none owe a fiduciary duty under the securities laws to you, any municipal entity, or any obligated person with respect to, among other things, the information and material contained in this communication. Instead, these FHN entities are acting for their own interests. You should discuss any information or material contained in this communication with any and all internal or external advisors and experts that you deem appropriate before acting on this information or material.

FHN Financial, through First Horizon Bank or its affiliates, offers investment products and services. Investment products are not FDIC insured, have no bank guarantee, and may lose value.

Source: ICE Data Indices, LLC ("ICE"), is used with permission. 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 SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY WITH RESPECT TO 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 SUBSCRIBER'S USE IS AT SUBSCRIBER'S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE, OR RECOMMEND FHN FINANCIAL MAIN STREET ADVISORS, LLC, OR ANY OF ITS PRODUCTS OR SERVICES.

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