Ventura Regional Sanitation District• Prepared based on the District’s Investment Policy revised...

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Ventura Regional Sanitation DistrictPortfolio ReviewQuarter Ending March 31, 2019

PFM Asset Management LLC

pfm.com601 S. Figueroa St.Suite 4500Los Angeles, CA 90017213.489.4075

Presented By:Sarah Meacham, Managing DirectorRichard Babbe, CCM, Senior Managing Consultant

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U.S. Economic Conditions

Source: Bloomberg, latest data available as of 3/31/19. SAAR is seasonally adjusted annualized rate.

4.2%

3.4%

2.2%

-2%

0%

2%

4%

6%

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

2014 2015 2016 2017 2018 2019

U.S. Real GDP(QoQ, SAAR) Forecast

2013

40

60

80

100

120

140

160

Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19

Consumer Confidence

3.2%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%


Average Hourly Earnings (YoY)

6.7%

5.4%5.0%

4.4%4.0% 3.8%

3%

4%

5%

6%

7%


Unemployment Rate

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Treasury Yields Fall During First Quarter

Source: Bloomberg, as of 03/31/19.

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

Mar-17 Sep-17 Mar-18 Sep-18 Mar-19

2-Year Treasury

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

Mar-17 Sep-17 Mar-18 Sep-18 Mar-19

10-Year Treasury

Highest since 2011

Highest since 2008

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0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

3M

1Y

2Y

3Y

4Y

5Y

10Y

30Y

Yiel

d

Maturity

March 29, 2019

December 31, 2018

September 28, 2018


Yield Curve Partly Inverted

Tenor 03/29/19 Year-End12/31/18

Year-End09/28/18

3 month 2.38% 2.35% 2.20%

1 year 2.39% 2.60% 2.56%

2 year 2.26% 2.49% 2.82%

3 year 2.20% 2.46% 2.88%

5 year 2.23% 2.51% 2.95%

10 year 2.41% 2.68% 3.06%

30 year 2.81% 3.01% 3.21%

U.S. Treasury Yield Curve

Inversion

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Recession Indicators


400

600

800

1,000

1,200

1,400

1,600

Housing Starts (000s, SAAR)

3035404550556065

ISM Manufacturing

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

Inflation Indicators

Core PCE (YoY)

Core CPI (YoY)0

100200300400500600700

1-5 Yr. A-AAA Corporate Index (OAS)

-400

-200

0

200

400

600

Yield Curve (bps)

3mo-10yr

100k

200k

300k

400k

500k

600k

700k

Initial Jobless Claims

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-0.50%

-0.25%

0.00%

0.25%

0.50%

0.75%

Mar '18 May '18 Jul '18 Sep '18 Nov '18 Jan '19 Mar '19

Are We Done with Rate Hikes?


2019 Rate MovesPriced into the Futures Market

-0.30%

1

3

2

Hikes

1

2

Cuts

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Portfolio Sector Allocation and Compliance The portfolios are in compliance with the District’s Investment Policy and the California Government Code.

• As of March 31, 2019. Detail may not add to total due to rounding.• Prepared based on the District’s Investment Policy revised December 15, 2016.• The total amount invested in negotiable CDs, corporate notes, commercial paper, and asset-backed securities may not exceed 35%.

6

Security Type Market Value % of Portfolio

% Change Permitted by Policy In Compliancevs.

12/31/18U.S. Treasury $17,302,702 43.6% -0.7% 100%

Federal Agency $7,004,584 17.6% +0.6% 100%

Federal Agency CMOs $1,265,945 3.2% -0.1% 100%

Supranationals $670,103 1.7% - 30%

Municipal Bonds $745,055 1.9% - 30%

Negotiable CDs $2,200,385 5.5% -1.7% 30%

Commercial Paper $643,740 1.6% +1.3% 30%

Corporate Notes $6,476,043 16.3% -1.7% 25%

Asset-Backed Securities $2,880,706 7.3% -0.3% 20%

Securities Sub-Total $39,189,264 98.7%Accrued Interest $177,622 Securities Total $39,366,887 98.7%

Money Market Fund $1,100,276 1.3% +2.5% 100%

Total Managed Account $40,467,163 100.0%

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Summary of Portfolio Activity

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Net Activity by Sector ($ millions)

Commercial Paper ($0.70)

Negotiable CDs ($0.21)

Federal Agency/CMO ($0.02)

Asset-Backed + $0.02

Corporate Notes +$0.16

U.S Treasuries ($0.83)

Federal Agency/GSE +$0.17

Total ($1.40)

Net Transactions by Sector ($ millions)

($2.0) ($1.5) ($1.0) ($0.5) $0.0 $0.5 $1.0

Federal Agency/GSE

U.S. Treasury

Corporate Notes

Asset-Backed

Federal Agency/CMO

Negotiable CDs

Commercial Paper

Sales/Maturities Purchases

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Sector and Issuer Distribution The portfolios are diversified across high quality sectors and are composed of securities with excellent credit quality.

• As of March 31, 2019. Does not include money market fund balances.• The total amount invested in negotiable CDs, corporate notes, commercial paper, and asset-backed securities may not exceed 35%• There is overlap between the CP and CD issuers, so certain issuers are included only in the CP category.• Detail may not add to totals due to rounding.

ABS Issuers (7.4%)Citigroup ABS 1.7%Ally Auto Receivables 1.4%GM Financial 1.0%Nissan Auto Receivables 0.9%Ford Auto Receivables 0.8%CarMax Auto Owner Trust 0.5%Hyundai Auto Receivables 0.5%Mercedes-Benz Auto Receivables 0.4%John Deere Owner Trust 0.2%

Supranational Issuers (1.7%)International Bank for Recon. and Dev. 0.6%Inter-American Development Bank 0.6%Int'l Finance Corp 0.5%

CD Issuers (5.6%)Sumitomo Mitsui Bank NY 1.3%Bank of Nova Scotia (Houston) 1.2%MUFG Bank 1.0%Nordea Bank Finland (NY) 0.8%Credit Suisse (NY) 0.6%Royal Bank of Canada (NY) 0.5%Westpac Banking Corp (NY) 0.3%

Corporate Issuers (14.7%)Goldman Sachs 1.7%

BB&T Bank 1.4%

Morgan Stanley 1.4%

American Honda Finance 1.1%

American Express 1.1%

John Deere Capital Corp 1.0%

IBM 0.9%

National Rural Uti'l Cooperative 0.9%

Bank of America Corp 0.7%

Caterpillar Financial 0.7%

Walt Disney Company 0.5%

Charles Schwab Corp 0.5%

Unilever PLC 0.5%

Home Depot Inc. 0.5%

Hershey 0.5%

Paccar Financial 0.4%

Intel Corporation 0.3%

Burlington Northern 0.1%

Comcast 0.1%

Citigroup 0.1% CP Issuers (3.5%)JPMorgan Chase & Co 2.2%Toyota Motor Credit Corp. 1.3%

Municipal Issuers (1.9%)CA ST Taxable GO Bonds 1.9%

8

U.S. Treasury44.2%

FHLB9.4%

FHLMC5.0%

FNMA6.7%

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Credit Quality

The District’s aggregate portfolio has an average credit weighting of AA.

• As of March 31, 2019. Percentages may not total 100% due to rounding.• Securities rated BBB+ by S&P are rated A- or the equivalent or better by Fitch and/or Moody's.• Securities Not Rated by S&P are asset-backed securities rated Aaa by Moody’s.

9

AAA5.4%

AA68.6%

A15.9%

BBB2.5%

A-1/A-1+4.0%

NR3.6%

Credity Quality - S&P

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Maturity Distribution

With the Federal Reserve on hold, we positioned the portfolio durations neutral to benchmark’s duration. This benefited the portfolios’ performance when interest rates fell during the fourth quarter.

• ICE BofAML Indices by Bloomberg.• Detail may not total to 100% due to rounding.• Callable securities in the portfolio are included in the distribution analysis to their stated maturity date, although they may be called prior to maturity.

10

23%24%

21%

27%

6%

22%

25%

22%

15% 16%

0%

5%

10%

15%

20%

25%

30%

0-1 Yr 1-2 Yr 2-3 Yr 3-4 Yr 4-5 Yr

Duration Distribution

District's Portfolio as of March 31, 2019 ICE BAML 0-5 Year Treasury Index

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Portfolio Performance The portfolios continue to perform well relative to the benchmark.

Duration (years)

Total Returns Yield to Maturity at

CostPast Quarter Past Year

Past5 Years

Since Inception

Total Portfolio 2.16 1.30% 3.27% 1.38% 2.27% 2.38%

Main 2.18 1.30% 3.29% 1.37% 2.29% 2.49%

Toland 2.14 1.31% 3.27% 1.39% 2.28% 2.31%

Coastal 2.17 1.27% 3.21% 1.38% 2.26% 2.28%

Bailard 2.17 1.29% 3.25% 1.37% 2.20% 2.33%

ICE BofAML 0-5 Year U.S. Treasury Index 2.09 1.10% 2.96% 1.19% 2.13% 2.30%

Portfolio Durations, Total Rates of Return, and YieldsFor periods ending March 31, 2019

• Performance on trade-date basis, gross (i.e., before fees), in accordance with the CFA Institute’s Global Investment Performance Standards (GIPS). • Includes money market fund in performance and duration computations.• Quarterly returns are presented on an unannualized basis. Performance numbers for periods greater than one year are presented on an annualized basis. • ICE BofAML Indices provided by Bloomberg. • Inception date is third quarter 2007.

11

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Second Quarter Outlook With the Fed on hold and the market’s current outlook for lower future interest rates, we will maintain a neutral duration

posture in the portfolios relative to the benchmark.

As a result of the outlook for slower economic growth, we continue to recommend maintaining diversification among investment grade sectors with a tilt toward higher grade corporate bonds given their income-producing potential.

Our outlook for each of the major investment-grade fixed-income sectors are as follows:

• As federal agency spreads remain very tight, we expect agency purchases to be minimal, seeking better value in either Treasuries or other sectors. Given the inverted-to-flat yield curve, we will also evaluate callable agencies for their incremental yield.

• In supranationals, we will wait for the expected increase in supply to drive spreads wider. Until then, we will generally remain on the sidelines.

• Allocations to AAA-rated ABS will be maintained. The sector offers an attractive incremental income compared to similar duration government securities and continues to offer a defensive outlet relative to other credit instruments.

• Agency MBS and CMBS continue to be an alternative to other government sectors for its incremental income potential. Our analysis focuses on the expected performance of various structures and collateral types to identifying value.

• Short-term, high quality credit in the form of negotiable certificates of deposit and commercial paper offer good income potential, especially in light of the partially inverted Treasury yield curve.

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DisclosuresPFM is the marketing name for a group of affiliated companies providing a range of services. Investment advisory services are provided by PFM Asset Management LLC which is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. Additional applicable regulatory information is available upon request.The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC at the time of distribution and are subject to change. Any forecast, projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon current opinion as of the date of issue, and are also subject to change. Opinions and data presented are not necessarily indicative of future events or expected performance. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources believed to be reliable. No representation is made as to its accuracy or completeness. This material is intended for informational purposes only and should not be relied upon to make an investment decision, as it was prepared without regard to any specific objectives or financial circumstances. It should not be construed as an offer to purchase/sell any investment. References to particular issuers are for illustrative purposes only, and are not intended to berecommendations or advice regarding such issuers.It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets. Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to be lower than the performance shown.PFM Asset Management LLC has exercised reasonable professional care in the preparation of this performance report. However, information in this report on market indices and security characteristics, as well as information incorporated in the Market Commentary section, is received from sources external to PFM Asset Management LLC.PFM Asset Management LLC relies on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements. While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur.For more information regarding PFM’s services or entities, please visit www.pfm.com.© 2019 PFM Asset Management LLC. Further distribution is not permitted without prior written consent.

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For the Month Ending March 31, 2019Managed Account Detail of Securities Held

Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value

VENTURA REGIONAL SANITATION MAIN - 100 Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle

Par

U.S. Treasury Bond / Note

US TREASURY NOTES

DTD 04/30/2014 1.625% 04/30/2019

114,923.53 114,933.69 784.67 114,227.34 05/23/1805/22/18AaaAA+ 115,000.00 912828D23 2.35

US TREASURY NOTES

DTD 07/31/2012 0.875% 07/31/2019

149,197.20 149,927.38 217.54 149,267.58 02/29/1602/26/16AaaAA+ 150,000.00 912828TH3 1.02

US TREASURY NOTES

DTD 10/01/2012 1.000% 09/30/2019

39,707.80 39,938.49 1.09 39,467.19 04/30/1504/28/15AaaAA+ 40,000.00 912828TR1 1.31

US TREASURY NOTES

DTD 10/31/2014 1.500% 10/31/2019

114,357.61 115,084.88 724.31 115,592.97 09/04/1509/03/15AaaAA+ 115,000.00 912828F62 1.37

US TREASURY NOTES

DTD 10/31/2014 1.500% 10/31/2019

248,603.50 250,136.94 1,574.59 251,015.63 05/29/1505/28/15AaaAA+ 250,000.00 912828F62 1.40

US TREASURY NOTES

DTD 01/31/2018 2.000% 01/31/2020

84,717.80 84,894.77 281.77 84,750.98 02/01/1801/31/18AaaAA+ 85,000.00 9128283S7 2.15

US TREASURY NOTES

DTD 02/02/2015 1.250% 01/31/2020

396,109.20 395,781.22 828.73 391,531.25 05/23/1805/22/18AaaAA+ 400,000.00 912828H52 2.54

US TREASURY NOTES

DTD 03/31/2015 1.375% 03/31/2020

34,643.18 34,895.51 1.31 34,748.44 10/26/1710/25/17AaaAA+ 35,000.00 912828J84 1.68

US TREASURY NOTES

DTD 08/31/2015 1.375% 08/31/2020

59,156.28 60,239.59 71.74 60,667.97 09/02/1609/01/16AaaAA+ 60,000.00 912828L32 1.09

US TREASURY NOTES

DTD 08/31/2015 1.375% 08/31/2020

78,875.04 78,927.22 95.65 78,162.50 03/19/1803/14/18AaaAA+ 80,000.00 912828L32 2.35

US TREASURY NOTES

DTD 08/31/2015 1.375% 08/31/2020

147,890.70 151,027.24 179.35 152,970.71 07/12/1607/07/16AaaAA+ 150,000.00 912828L32 0.89

US TREASURY NOTES

DTD 09/30/2013 2.000% 09/30/2020

392,917.17 391,224.04 21.58 389,121.29 05/23/1805/22/18AaaAA+ 395,000.00 912828VZ0 2.66

US TREASURY NOTES

DTD 08/01/2016 1.125% 07/31/2021

48,709.00 49,213.61 93.23 48,654.29 07/11/1707/10/17AaaAA+ 50,000.00 912828S76 1.82

US TREASURY NOTES

DTD 08/01/2016 1.125% 07/31/2021

48,709.00 49,213.61 93.23 48,654.30 07/11/1707/10/17AaaAA+ 50,000.00 912828S76 1.82

1



VENTURA REGIONAL SANITATION MAIN - 00 Security

Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle

Par


US TREASURY NOTES

DTD 09/02/2014 2.000% 08/31/2021

69,559.77 70,110.12 121.74 70,210.55 12/05/1612/01/16AaaAA+ 70,000.00 912828D72 1.93

US TREASURY NOTES

DTD 09/02/2014 2.000% 08/31/2021

263,333.42 265,416.88 460.87 265,797.07 12/05/1612/01/16AaaAA+ 265,000.00 912828D72 1.93

US TREASURY NOTES

DTD 10/31/2016 1.250% 10/31/2021

58,488.30 59,409.18 314.92 59,057.81 08/31/1708/30/17AaaAA+ 60,000.00 912828T67 1.64

US TREASURY NOTES

DTD 10/31/2016 1.250% 10/31/2021

97,480.50 97,881.60 524.86 96,281.25 03/16/1703/14/17AaaAA+ 100,000.00 912828T67 2.10

US TREASURY NOTES

DTD 10/31/2016 1.250% 10/31/2021

146,220.75 148,522.95 787.29 147,644.53 08/31/1708/30/17AaaAA+ 150,000.00 912828T67 1.64

US TREASURY NOTES

DTD 01/03/2017 2.000% 12/31/2021

34,783.98 35,263.24 175.97 35,425.20 06/28/1706/26/17AaaAA+ 35,000.00 912828U81 1.72

US TREASURY NOTES

DTD 01/03/2017 2.000% 12/31/2021

149,074.20 151,128.17 754.14 151,822.27 06/28/1706/26/17AaaAA+ 150,000.00 912828U81 1.72

US TREASURY NOTES

DTD 01/31/2017 1.875% 01/31/2022

24,747.08 24,990.64 77.69 24,984.38 05/09/1705/08/17AaaAA+ 25,000.00 912828V72 1.89

US TREASURY N/B NOTES

DTD 02/28/2017 1.875% 02/28/2022

89,068.32 89,716.22 146.74 89,581.64 10/26/1710/25/17AaaAA+ 90,000.00 912828W55 1.99


DTD 02/28/2017 1.875% 02/28/2022

296,894.40 298,504.21 489.13 297,843.75 11/30/1711/29/17AaaAA+ 300,000.00 912828W55 2.05

US TREASURY NOTES

DTD 07/31/2017 1.875% 07/31/2022

98,839.80 99,513.47 310.77 99,316.41 11/03/1711/01/17AaaAA+ 100,000.00 9128282P4 2.03

US TREASURY NOTES

DTD 07/31/2017 1.875% 07/31/2022

326,171.34 326,382.55 1,025.55 325,101.56 01/04/1801/02/18AaaAA+ 330,000.00 9128282P4 2.22


DTD 08/31/2015 1.875% 08/31/2022

686,746.88 672,686.12 1,133.15 667,390.04 05/23/1805/22/18AaaAA+ 695,000.00 912828L24 2.87

US TREASURY NOTES

DTD 10/02/2017 1.875% 09/30/2022

167,981.25 166,213.37 8.71 165,198.83 04/04/1804/02/18AaaAA+ 170,000.00 9128282W9 2.54

2




Par


US TREASURY NOTES

DTD 09/30/2015 1.750% 09/30/2022

285,264.88 286,619.36 13.87 285,389.45 11/30/1711/29/17AaaAA+ 290,000.00 912828L57 2.10


DTD 10/31/2017 2.000% 10/31/2022

1,011,831.84 994,421.63 8,565.75 989,559.38 07/13/1807/12/18AaaAA+ 1,020,000.00 9128283C2 2.74

US TREASURY NOTES

DTD 12/31/2015 2.125% 12/31/2022

268,892.46 265,892.27 1,442.30 265,717.97 01/31/1901/30/19AaaAA+ 270,000.00 912828N30 2.55

US TREASURY NOTES

DTD 02/01/2016 1.750% 01/31/2023

112,947.02 110,881.74 333.56 110,570.70 12/11/1812/11/18AaaAA+ 115,000.00 912828P38 2.74

US TREASURY NOTES

DTD 02/01/2016 1.750% 01/31/2023

245,537.00 239,144.76 725.14 238,076.17 11/06/1811/01/18AaaAA+ 250,000.00 912828P38 2.96

US TREASURY NOTES

DTD 03/31/2016 1.500% 03/31/2023

194,359.40 190,113.97 8.20 188,000.00 05/02/1805/01/18AaaAA+ 200,000.00 912828Q29 2.82


DTD 05/31/2016 1.625% 05/31/2023

97,554.70 96,429.61 544.64 96,371.09 03/06/1903/04/19AaaAA+ 100,000.00 912828R69 2.53

22,933.78 6,684,294.30 6,654,680.25 2.30 6,628,172.49 6,760,000.00 Security Type Sub-Total

Supra-National Agency Bond / Note

INTER-AMERICAN DEVEL BK NOTE

DTD 04/12/2017 1.625% 05/12/2020

69,411.58 69,938.96 439.20 69,834.10 04/12/1704/05/17AaaAAA 70,000.00 4581X0CX4 1.70

INTERNATIONAL FINANCE CORPORATION

NOTE

DTD 01/25/2018 2.250% 01/25/2021

24,942.00 24,954.89 103.13 24,926.50 01/25/1801/18/18AaaAAA 25,000.00 45950KCM0 2.35

INTL BANK OF RECONSTRUCTION AND DEV

NOTE

DTD 07/25/2018 2.750% 07/23/2021

176,692.08 174,680.90 909.03 174,590.50 07/25/1807/18/18AaaAAA 175,000.00 459058GH0 2.83

1,451.36 271,045.66 269,574.75 2.50 269,351.10 270,000.00 Security Type Sub-Total

Municipal Bond / Note

3




Par


CA ST TXBL GO BONDS

DTD 04/25/2018 2.800% 04/01/2021

141,264.20 140,002.79 1,960.00 140,005.60 04/25/1804/18/18Aa3AA- 140,000.00 13063DGA0 2.80

CA ST TAXABLE GO BONDS

DTD 10/26/2017 2.500% 10/01/2022

45,184.50 45,451.62 562.50 45,626.85 10/26/1710/18/17Aa3AA- 45,000.00 13063DDF2 2.20


DTD 10/26/2017 2.500% 10/01/2022

60,246.00 60,602.16 750.00 60,835.80 10/26/1710/18/17Aa3AA- 60,000.00 13063DDF2 2.20


Federal Agency Collateralized Mortgage Obligation

FANNIE MAE SERIES 2015-M13 ASQ2

DTD 10/01/2015 1.646% 09/01/2019

2,824.87 2,834.88 3.89 2,863.17 10/30/1510/07/15AaaAA+ 2,834.78 3136AQDQ0 1.08

FHMS K006 A2

DTD 04/01/2010 4.251% 01/25/2020

120,642.54 121,216.11 425.10 122,437.50 06/15/1806/12/18AaaAA+ 120,000.00 31398VJ98 1.57

FNA 2018-M5 A2

DTD 04/01/2018 3.560% 09/25/2021

66,040.34 66,165.29 193.48 66,515.50 04/30/1804/11/18AaaAA+ 65,218.25 3136B1XP4 2.27

FHLMC SERIES K721 A2

DTD 12/01/2015 3.090% 08/25/2022

91,307.73 90,567.20 231.75 90,766.41 04/09/1804/04/18AaaAA+ 90,000.00 3137BM6P6 2.61


DTD 09/01/2013 3.016% 02/01/2023

41,223.92 40,869.51 102.56 40,903.45 06/18/1806/13/18AaaAA+ 40,806.22 3137B4GX8 2.88

FHLMC MULTIFAMILY STRUCTURED P

DTD 11/01/2013 2.669% 02/25/2023

47,526.71 47,269.94 105.62 47,245.78 06/18/1806/13/18AaaAA+ 47,488.79 3137B5JL8 2.81

FHMS KP05 A

DTD 12/01/2018 3.203% 07/01/2023

54,077.17 53,576.16 143.00 53,576.16 12/17/1812/07/18AaaAA+ 53,576.32 3137FKK39 3.11


Federal Agency Bond / Note

FEDERAL HOME LOAN BANK AGENCY NOTES

DTD 05/12/2017 1.375% 05/28/2019

19,966.30 19,999.31 93.96 19,991.20 05/16/1705/15/17AaaAA+ 20,000.00 3130ABF92 1.40

4




Par



DTD 05/12/2017 1.375% 05/28/2019

49,915.75 49,992.59 234.90 49,905.50 05/12/1705/11/17AaaAA+ 50,000.00 3130ABF92 1.47

FHLB GLOBAL NOTE

DTD 08/04/2016 0.875% 08/05/2019

159,124.64 159,964.35 217.78 159,692.80 08/04/1608/03/16AaaAA+ 160,000.00 3130A8Y72 0.94

FREDDIE MAC NOTES

DTD 07/19/2017 1.375% 08/15/2019

144,438.27 144,961.20 254.76 144,786.85 07/19/1707/18/17AaaAA+ 145,000.00 3137EAEH8 1.45

FREDDIE MAC NOTES

DTD 01/17/2017 1.500% 01/17/2020

89,323.83 89,947.86 277.50 89,825.40 05/09/1705/08/17AaaAA+ 90,000.00 3137EAEE5 1.57

FHLB NOTES

DTD 02/09/2018 2.125% 02/11/2020

124,650.75 124,900.57 368.92 124,771.25 02/09/1802/08/18AaaAA+ 125,000.00 3130ADN32 2.22

FNMA NOTES

DTD 02/28/2017 1.500% 02/28/2020

54,542.90 54,989.18 75.63 54,964.80 02/28/1702/24/17AaaAA+ 55,000.00 3135G0T29 1.52

FNMA NOTES

DTD 02/28/2017 1.500% 02/28/2020

74,376.68 74,985.24 103.13 74,952.00 02/28/1702/24/17AaaAA+ 75,000.00 3135G0T29 1.52

FHLMC AGENCY NOTES

DTD 04/20/2017 1.375% 04/20/2020

44,511.08 44,945.22 276.72 44,846.10 04/20/1704/19/17AaaAA+ 45,000.00 3137EAEF2 1.49

FHLMC AGENCY NOTES

DTD 04/20/2017 1.375% 04/20/2020

74,185.13 74,908.70 461.20 74,743.50 04/20/1704/19/17AaaAA+ 75,000.00 3137EAEF2 1.49

FHLMC NOTES

DTD 04/19/2018 2.500% 04/23/2020

235,126.67 234,667.42 2,578.47 234,443.05 07/13/1807/12/18AaaAA+ 235,000.00 3137EAEM7 2.64

FHLB NOTES

DTD 09/08/2017 1.375% 09/28/2020

54,177.64 54,912.75 6.30 54,823.45 09/08/1709/07/17AaaAA+ 55,000.00 3130ACE26 1.48

FHLB NOTES

DTD 09/08/2017 1.375% 09/28/2020

68,953.36 69,888.95 8.02 69,775.30 09/08/1709/07/17AaaAA+ 70,000.00 3130ACE26 1.48

FANNIE MAE NOTES

DTD 11/01/2018 2.875% 10/30/2020

247,068.54 244,886.82 2,934.90 244,857.90 11/01/1810/30/18AaaAA+ 245,000.00 3135G0U84 2.91

FREDDIE MAC NOTES

DTD 02/16/2018 2.375% 02/16/2021

235,227.25 233,471.36 697.66 232,903.80 07/13/1807/12/18AaaAA+ 235,000.00 3137EAEL9 2.73

5




Par


FANNIE MAE NOTES

DTD 04/13/2018 2.500% 04/13/2021

75,278.03 74,923.34 875.00 74,888.25 04/13/1804/12/18AaaAA+ 75,000.00 3135G0U27 2.55

FANNIE MAE NOTES

DTD 06/25/2018 2.750% 06/22/2021

171,615.17 169,970.43 1,285.63 169,960.90 06/25/1806/22/18AaaAA+ 170,000.00 3135G0U35 2.76

FEDERAL HOME LOAN BANKS NOTES

(CALLABLE)

DTD 09/20/2018 3.000% 09/20/2021

250,681.25 250,000.00 229.17 250,000.00 09/20/1809/13/18AaaAA+ 250,000.00 3130AEXV7 3.00

FREDDIE MAC NOTES

DTD 06/11/2018 2.750% 06/19/2023

142,442.02 140,408.60 1,090.83 140,431.20 12/31/1812/27/18AaaAA+ 140,000.00 3137EAEN5 2.68

FEDERAL HOME LOAN BANK NOTES

DTD 08/26/2013 3.375% 09/08/2023

392,269.13 381,123.88 808.59 381,523.50 12/06/1812/04/18AaaAA+ 375,000.00 313383YJ4 2.98

FANNIE MAE NOTES

DTD 02/08/2019 2.500% 02/05/2024

287,676.15 283,969.19 1,048.96 283,939.80 02/08/1902/07/19AaaAA+ 285,000.00 3135G0V34 2.58

FHLB BONDS

DTD 02/15/2019 2.500% 02/13/2024

232,153.49 229,205.41 734.72 229,185.80 02/15/1902/14/19AaaAA+ 230,000.00 3130AFW94 2.58


Corporate Note

GOLDMAN SACHS GRP INC CORP NT

(CALLABLE)

DTD 04/25/2016 2.000% 04/25/2019

34,983.06 34,997.78 303.33 34,902.70 04/25/1604/20/16A3BBB+ 35,000.00 38141GVT8 2.10


(CALLABLE)

DTD 04/25/2016 2.000% 04/25/2019

79,961.28 79,998.83 693.33 79,948.80 04/26/1604/21/16A3BBB+ 80,000.00 38141GVT8 2.02


(CALLABLE)

DTD 04/25/2016 2.000% 04/25/2019

99,951.60 99,998.54 866.67 99,936.00 04/26/1604/21/16A3BBB+ 100,000.00 38141GVT8 2.02

CITIGROUP INC CORP NOTES

DTD 06/09/2016 2.050% 06/07/2019

39,952.80 39,998.69 259.67 39,979.20 06/09/1606/02/16A3BBB+ 40,000.00 172967KS9 2.07

6




Par

Corporate Note

BURLINGTON NRTH CORP NOTE

DTD 09/24/2009 4.700% 10/01/2019

50,532.40 50,800.28 1,175.00 55,195.00 06/08/1606/03/16A3A+ 50,000.00 12189TBC7 1.48

TOYOTA MOTOR CORP NOTES

DTD 10/18/2016 1.550% 10/18/2019

24,852.95 24,997.68 175.45 24,987.50 10/18/1610/13/16Aa3AA- 25,000.00 89236TDH5 1.57

AMERICAN EXPRESS CREDIT (CALLABLE)

CORP

DTD 10/31/2016 1.700% 10/30/2019

49,741.65 50,001.65 356.53 50,009.50 10/31/1610/26/16A2A- 50,000.00 0258M0EC9 1.69


NOTE

DTD 03/03/2017 2.200% 03/03/2020

54,744.69 54,982.02 94.11 54,942.80 03/03/1702/28/17A2A- 55,000.00 0258M0EE5 2.24


NOTE

DTD 03/03/2017 2.200% 03/03/2020

59,721.48 59,980.38 102.67 59,937.60 03/03/1702/28/17A2A- 60,000.00 0258M0EE5 2.24

TOYOTA MOTOR CREDIT CORP

DTD 04/17/2017 1.950% 04/17/2020

34,768.06 34,994.29 310.92 34,983.90 04/17/1704/11/17Aa3AA- 35,000.00 89236TDU6 1.97


DTD 04/17/2017 1.950% 04/17/2020

44,701.79 44,992.66 399.75 44,979.30 04/17/1704/11/17Aa3AA- 45,000.00 89236TDU6 1.97

CATERPILLAR FINL SERVICE NOTE

DTD 09/07/2017 1.850% 09/04/2020

39,550.84 39,983.75 55.50 39,966.40 09/07/1709/05/17A3A 40,000.00 14913Q2A6 1.88


DTD 09/07/2017 1.850% 09/04/2020

44,494.70 44,981.72 62.44 44,962.20 09/07/1709/05/17A3A 45,000.00 14913Q2A6 1.88

IBM CREDIT CORP NOTE

DTD 09/08/2017 1.800% 01/20/2021

44,313.39 44,949.21 159.75 44,906.85 09/08/1709/05/17A1A 45,000.00 44932HAB9 1.86


DTD 09/08/2017 1.800% 01/20/2021

64,008.23 64,926.64 230.75 64,865.45 09/08/1709/05/17A1A 65,000.00 44932HAB9 1.86

PACCAR FINANCIAL CORP NOTES

DTD 02/27/2018 2.800% 03/01/2021

50,162.60 49,984.10 116.67 49,975.50 02/27/1802/22/18A1A+ 50,000.00 69371RN93 2.82

JOHN DEERE CAPITAL CORP NOTES

DTD 03/13/2018 2.875% 03/12/2021

25,120.05 24,988.78 37.93 24,983.00 03/13/1803/08/18A2A 25,000.00 24422EUD9 2.90

7




Par

Corporate Note

NATIONAL RURAL UTIL COOP NOTE

DTD 02/26/2018 2.900% 03/15/2021

50,256.20 49,963.56 64.44 49,944.50 02/26/1802/21/18A2A 50,000.00 63743HER9 2.94


DTD 02/26/2018 2.900% 03/15/2021

70,358.68 69,798.69 90.22 69,703.90 04/19/1804/12/18A2A 70,000.00 63743HER9 3.05

HERSHEY COMPANY CORP NOTES

DTD 05/10/2018 3.100% 05/15/2021

75,748.05 74,962.90 878.33 74,948.25 05/10/1805/03/18A1A 75,000.00 427866BA5 3.12

CHARLES SCHWAB CORP NOTES

DTD 05/22/2018 3.250% 05/21/2021

70,878.01 69,998.45 821.53 69,997.90 05/22/1805/17/18A2A 70,000.00 808513AW5 3.25

BANK OF AMERICA CORP CORP NOTES

DTD 07/21/2017 2.369% 07/21/2021

292,988.40 290,778.79 1,358.88 289,536.60 07/16/1807/12/18A2A- 295,000.00 06051GGP8 3.02

MORGAN STANLEY CORP NOTES

DTD 07/28/2011 5.500% 07/28/2021

37,034.13 37,146.19 336.88 38,890.60 03/29/1703/27/17A3BBB+ 35,000.00 61747WAL3 2.76


DTD 07/28/2011 5.500% 07/28/2021

105,811.80 106,131.97 962.50 111,116.00 03/29/1703/27/17A3BBB+ 100,000.00 61747WAL3 2.76

AMERICAN HONDA FINANCE CORP NOTES

DTD 09/09/2016 1.700% 09/09/2021

48,831.75 49,829.10 51.94 49,658.50 09/14/1609/09/16A2A 50,000.00 02665WBG5 1.84


DTD 10/10/2018 3.375% 12/10/2021

71,228.15 69,969.35 728.44 69,966.40 10/10/1810/03/18A2A 70,000.00 02665WCP4 3.39


DTD 01/06/2017 2.650% 01/06/2022

29,987.07 29,922.24 187.71 29,867.70 03/15/1703/10/17A2A 30,000.00 24422ETL3 2.75


DTD 01/06/2017 2.650% 01/06/2022

39,982.76 39,896.32 250.28 39,823.60 03/15/1703/10/17A2A 40,000.00 24422ETL3 2.75

HOME DEPOT INC

DTD 12/06/2018 3.250% 03/01/2022

61,362.00 59,849.27 162.50 59,835.60 12/06/1811/27/18A2A 60,000.00 437076BV3 3.34

UNILEVER CAPITAL CORP

DTD 09/07/2018 3.000% 03/07/2022

100,983.80 99,590.88 200.00 99,516.00 09/07/1809/04/18A1A+ 100,000.00 904764BF3 3.15

BB&T CORP (CALLABLE) NOTES

DTD 03/21/2017 2.750% 04/01/2022

100,021.00 100,461.18 1,375.00 100,755.00 04/06/1704/03/17A2A- 100,000.00 05531FAX1 2.59

8




Par

Corporate Note


DTD 03/21/2017 2.750% 04/01/2022

100,021.00 100,461.18 1,375.00 100,755.00 04/06/1704/03/17A2A- 100,000.00 05531FAX1 2.59

COMCAST CORPORATION CORP NOTES

DTD 07/02/2012 3.125% 07/15/2022

45,612.86 46,316.22 296.88 46,916.55 09/01/1708/29/17A3A- 45,000.00 20030NBD2 2.20

WALT DISNEY COMPANY/THE CORP NOTES

DTD 11/30/2012 2.350% 12/01/2022

108,784.72 106,682.64 861.67 106,467.90 12/31/1812/27/18A2A 110,000.00 25468PCW4 3.23

INTEL CORP CORP NOTES

DTD 12/11/2012 2.700% 12/15/2022

120,708.84 117,800.02 954.00 117,655.20 12/28/1812/26/18A1A+ 120,000.00 458140AM2 3.23

JPMORGAN CHASE & CO BONDS

DTD 03/22/2019 3.207% 04/01/2023

160,962.88 160,000.00 128.28 160,000.00 03/22/1903/15/19A2A- 160,000.00 46647PBB1 3.21


Commercial Paper

TOYOTA MOTOR CREDIT CORP COMM

PAPER

DTD 01/08/2019 0.000% 07/08/2019

198,602.20 198,508.22 0.00 197,260.00 01/09/1901/08/19P-1A-1+ 200,000.00 89233HU85 2.78

JP MORGAN SECURITIES LLC COMM PAPER

DTD 12/10/2018 0.000% 09/06/2019

247,007.00 246,752.22 0.00 244,470.56 12/11/1812/11/18P-1A-1 250,000.00 46640QW64 3.03

0.00 445,609.20 445,260.44 2.92 441,730.56 450,000.00 Security Type Sub-Total

Certificate of Deposit

CREDIT SUISSE NEW YORK CERT DEPOS

DTD 02/08/2018 2.670% 02/07/2020

90,101.70 90,000.00 2,756.78 90,000.00 02/08/1802/07/18P-1A-1 90,000.00 22549LFR1 2.67

NORDEA BANK AB NY CD

DTD 02/22/2018 2.720% 02/20/2020

100,221.70 100,000.00 309.78 100,000.00 02/22/1802/20/18P-1A-1+ 100,000.00 65590ASN7 2.72

BANK OF NOVA SCOTIA HOUSTON CD

DTD 06/07/2018 3.080% 06/05/2020

161,120.00 159,963.55 1,587.91 159,939.20 06/07/1806/05/18Aa2A+ 160,000.00 06417GU22 3.10

WESTPAC BANKING CORP NY CD

DTD 08/07/2017 2.050% 08/03/2020

64,635.42 65,000.00 199.88 65,000.00 08/07/1708/03/17Aa3AA- 65,000.00 96121T4A3 2.05

9




Par


SUMITOMO MITSUI BANK NY CERT DEPOS

DTD 10/18/2018 3.390% 10/16/2020

182,515.50 179,944.34 2,796.75 179,755.20 10/18/1810/16/18A1A 180,000.00 86565BPC9 3.46

ROYAL BANK OF CANADA NY CD

DTD 06/08/2018 3.240% 06/07/2021

177,309.48 175,000.00 1,795.50 175,000.00 06/08/1806/07/18Aa2AA- 175,000.00 78012UEE1 3.24

MUFG BANK LTD/NY CERT DEPOS

DTD 02/28/2019 2.980% 02/25/2022

151,751.72 150,000.00 397.33 150,000.00 02/28/1902/27/19A1A 150,000.00 55379WZU3 3.01


Asset-Backed Security

FORD ABS 2017-A A3

DTD 01/25/2017 1.670% 06/15/2021

21,804.16 21,921.98 16.27 21,921.94 01/25/1701/18/17AaaNR 21,922.01 34531EAD8 1.67

FORD ABS 2017-A A3

DTD 01/25/2017 1.670% 06/15/2021

29,072.20 29,229.29 21.69 29,229.23 01/25/1701/18/17AaaNR 29,229.34 34531EAD8 1.67

GMALT 2018-3 A3

DTD 09/26/2018 3.180% 06/20/2021

40,278.71 39,997.41 38.87 39,996.84 09/26/1809/18/18AaaAAA 40,000.00 36256GAD1 3.19

HYUNDAI ABS 2017-A A3

DTD 03/29/2017 1.760% 08/15/2021

25,572.96 25,714.98 20.12 25,714.58 03/29/1703/22/17NRAAA 25,716.66 44931PAD8 1.76


DTD 03/29/2017 1.760% 08/15/2021

29,835.13 30,001.59 23.47 30,000.35 03/29/1703/22/17NRAAA 30,002.78 44931PAD8 1.76

ALLY ABS 2017-2 A3

DTD 03/29/2017 1.780% 08/15/2021

37,912.45 38,084.29 30.13 38,082.12 03/29/1703/21/17AaaNR 38,086.61 02007HAC5 1.79

ALLY ABS 2017-2 A3

DTD 03/29/2017 1.780% 08/15/2021

48,252.21 48,470.91 38.35 48,468.15 03/29/1703/21/17AaaNR 48,473.87 02007HAC5 1.79

FORDL 2018-B A3

DTD 09/21/2018 3.190% 12/15/2021

50,378.25 49,996.44 70.89 49,995.78 09/21/1809/18/18AaaNR 50,000.00 34531LAD2 3.41

JDOT 2018-A A3

DTD 02/28/2018 2.660% 04/15/2022

30,013.25 29,998.36 35.47 29,997.84 02/28/1802/21/18AaaNR 30,000.00 47788CAC6 2.66

ALLYA 2018-2 A3

DTD 04/30/2018 2.920% 11/15/2022

40,157.28 39,994.13 51.91 39,992.74 04/30/1804/24/18AaaNR 40,000.00 02004VAC7 2.93

10




Par


MBART 2018-1 A3

DTD 07/25/2018 3.030% 01/15/2023

105,802.87 104,996.61 141.40 104,995.97 07/25/1807/17/18AaaAAA 105,000.00 58772RAD6 3.03

ALLYA 2018-3 A3

DTD 06/27/2018 3.000% 01/15/2023

120,650.88 119,993.14 160.00 119,991.79 06/27/1806/19/18AaaAAA 120,000.00 02007JAC1 3.09

CCCIT 2018-A1 A1

DTD 01/31/2018 2.490% 01/20/2023

199,710.74 198,022.81 982.17 197,789.06 08/23/1808/21/18AaaNR 200,000.00 17305EGK5 2.97

GMCAR 2018-3 A3

DTD 07/18/2018 3.020% 05/16/2023

60,470.89 59,987.96 75.50 59,986.01 07/18/1807/11/18NRAAA 60,000.00 36255JAD6 3.03

NAROT 2018-C A3

DTD 12/12/2018 3.220% 06/15/2023

91,175.36 89,983.92 128.80 89,982.76 12/12/1812/04/18AaaAAA 90,000.00 65478NAD7 3.53

CARMAX AUTO OWNER TRUST

DTD 07/25/2018 3.130% 06/15/2023

121,249.25 119,985.85 166.93 119,983.64 07/25/1807/18/18NRAAA 120,000.00 14313FAD1 3.36

GMCAR 2019-1 A3

DTD 01/16/2019 2.970% 11/16/2023

110,883.37 109,988.33 136.13 109,987.82 01/16/1901/08/19AaaNR 110,000.00 36256XAD4 2.97


15,953,355.63 15,825,870.64 2.49 71,992.77 15,846,485.31 15,922,990.32 Managed Account Sub-Total

$15,953,355.63 $15,825,870.64 $71,992.77 $15,846,485.31 $15,922,990.32 2.49%

$15,994,983.09

$71,992.77

Total Investments

Accrued Interest

Securities Sub-Total

11


VENTURA REGIONAL SANITATION TOLAND - 110


Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle

Par


US TREASURY NOTES

DTD 10/01/2012 1.000% 09/30/2019

9,926.95 9,984.62 0.27 9,866.80 04/30/1504/28/15AaaAA+ 10,000.00 912828TR1 1.31

US TREASURY NOTES

DTD 10/01/2012 1.000% 09/30/2019

54,598.23 54,889.68 1.50 54,026.76 03/27/1503/26/15AaaAA+ 55,000.00 912828TR1 1.41

US TREASURY NOTES

DTD 10/01/2012 1.000% 09/30/2019

99,269.50 99,846.23 2.73 98,667.97 04/30/1504/28/15AaaAA+ 100,000.00 912828TR1 1.31

US TREASURY NOTES

DTD 10/31/2014 1.500% 10/31/2019

49,720.70 50,027.39 314.92 50,203.13 05/29/1505/28/15AaaAA+ 50,000.00 912828F62 1.40

US TREASURY NOTES

DTD 10/31/2014 1.500% 10/31/2019

79,553.12 80,059.05 503.87 80,412.50 09/04/1509/03/15AaaAA+ 80,000.00 912828F62 1.37

US TREASURY NOTES

DTD 10/31/2014 1.500% 10/31/2019

273,463.85 275,202.99 1,732.04 276,417.97 09/04/1509/03/15AaaAA+ 275,000.00 912828F62 1.37

US TREASURY NOTES

DTD 01/31/2018 2.000% 01/31/2020

99,668.00 99,876.20 331.49 99,707.03 02/01/1801/31/18AaaAA+ 100,000.00 9128283S7 2.15

US TREASURY NOTES

DTD 02/15/2017 1.375% 02/15/2020

133,771.23 134,996.29 230.75 134,989.45 08/31/1708/30/17AaaAA+ 135,000.00 912828W22 1.38

US TREASURY NOTES

DTD 03/02/2015 1.375% 02/29/2020

99,046.90 98,892.08 119.57 98,644.53 01/16/1901/10/19AaaAA+ 100,000.00 912828J50 2.61

US TREASURY NOTES

DTD 07/31/2013 2.000% 07/31/2020

54,733.58 55,602.81 182.32 56,882.03 05/06/1605/03/16AaaAA+ 55,000.00 912828VP2 1.17

US TREASURY NOTES

DTD 07/31/2013 2.000% 07/31/2020

104,491.38 106,150.81 348.07 108,592.97 05/06/1605/03/16AaaAA+ 105,000.00 912828VP2 1.17

US TREASURY NOTES

DTD 08/31/2015 1.375% 08/31/2020

78,875.04 80,547.86 95.65 81,584.37 07/12/1607/07/16AaaAA+ 80,000.00 912828L32 0.89

US TREASURY NOTES

DTD 08/31/2015 1.375% 08/31/2020

93,664.11 95,595.90 113.59 96,736.72 06/29/1606/28/16AaaAA+ 95,000.00 912828L32 0.93

US TREASURY NOTES

DTD 08/31/2015 1.375% 08/31/2020

197,187.60 200,798.62 239.13 202,226.56 09/02/1609/01/16AaaAA+ 200,000.00 912828L32 1.09

12





Par


US TREASURY NOTES

DTD 08/31/2015 1.375% 08/31/2020

221,836.05 226,540.86 269.02 229,456.05 07/12/1607/07/16AaaAA+ 225,000.00 912828L32 0.89

US TREASURY NOTES

DTD 09/02/2014 2.000% 08/31/2021

193,773.65 195,306.76 339.13 195,586.52 12/05/1612/01/16AaaAA+ 195,000.00 912828D72 1.93

US TREASURY NOTES

DTD 09/02/2014 2.000% 08/31/2021

347,798.85 350,550.60 608.70 351,052.73 12/05/1612/01/16AaaAA+ 350,000.00 912828D72 1.93

US TREASURY NOTES

DTD 10/31/2016 1.250% 10/31/2021

24,370.13 24,753.82 131.22 24,607.42 08/31/1708/30/17AaaAA+ 25,000.00 912828T67 1.64

US TREASURY NOTES

DTD 10/31/2016 1.250% 10/31/2021

87,732.45 88,861.61 472.38 88,154.30 08/03/1708/01/17AaaAA+ 90,000.00 912828T67 1.75

US TREASURY NOTES

DTD 10/31/2016 1.250% 10/31/2021

97,480.50 97,881.60 524.86 96,281.25 03/16/1703/14/17AaaAA+ 100,000.00 912828T67 2.10

US TREASURY NOTES

DTD 10/31/2016 1.250% 10/31/2021

97,480.50 97,881.60 524.86 96,281.25 03/16/1703/14/17AaaAA+ 100,000.00 912828T67 2.10

US TREASURY NOTES

DTD 10/31/2016 1.250% 10/31/2021

321,685.65 326,750.48 1,732.04 324,817.97 08/31/1708/30/17AaaAA+ 330,000.00 912828T67 1.64

US TREASURY NOTES

DTD 11/15/2011 2.000% 11/15/2021

29,814.84 30,055.86 227.07 30,099.61 01/31/1701/30/17AaaAA+ 30,000.00 912828RR3 1.93

US TREASURY NOTES

DTD 01/03/2017 2.000% 12/31/2021

79,506.24 80,601.69 402.21 80,971.88 06/28/1706/26/17AaaAA+ 80,000.00 912828U81 1.72

US TREASURY NOTES

DTD 01/03/2017 2.000% 12/31/2021

114,290.22 115,864.93 578.18 116,397.07 06/28/1706/26/17AaaAA+ 115,000.00 912828U81 1.72

US TREASURY NOTES

DTD 01/03/2017 2.000% 12/31/2021

208,703.88 209,816.43 1,055.80 209,729.30 11/30/1711/29/17AaaAA+ 210,000.00 912828U81 2.03

US TREASURY NOTES

DTD 02/02/2015 1.500% 01/31/2022

39,184.36 39,585.29 99.45 39,342.19 07/07/1707/05/17AaaAA+ 40,000.00 912828H86 1.88

US TREASURY NOTES

DTD 02/02/2015 1.500% 01/31/2022

83,266.77 84,118.75 211.33 83,602.15 07/07/1707/05/17AaaAA+ 85,000.00 912828H86 1.88

13





Par



DTD 02/28/2017 1.875% 02/28/2022

59,378.88 59,810.82 97.83 59,721.09 10/26/1710/25/17AaaAA+ 60,000.00 912828W55 1.99


DTD 02/28/2017 1.875% 02/28/2022

118,757.76 119,621.63 195.65 119,442.19 10/26/1710/25/17AaaAA+ 120,000.00 912828W55 1.99

US TREASURY NOTES

DTD 07/31/2017 1.875% 07/31/2022

177,911.64 178,026.85 559.39 177,328.13 01/04/1801/02/18AaaAA+ 180,000.00 9128282P4 2.22

US TREASURY NOTES

DTD 09/30/2015 1.750% 09/30/2022

118,040.64 116,077.66 5.74 115,209.38 06/06/1806/04/18AaaAA+ 120,000.00 912828L57 2.74

US TREASURY NOTES

DTD 10/02/2017 1.875% 09/30/2022

360,665.63 356,869.89 18.70 354,691.60 04/04/1804/02/18AaaAA+ 365,000.00 9128282W9 2.54


DTD 11/02/2015 1.875% 10/31/2022

118,514.04 115,665.58 944.75 115,092.19 10/01/1809/27/18AaaAA+ 120,000.00 912828M49 2.95

US TREASURY NOTES

DTD 12/31/2015 2.125% 12/31/2022

139,425.72 137,004.41 747.86 136,450.78 07/06/1807/03/18AaaAA+ 140,000.00 912828N30 2.73

US TREASURY NOTES

DTD 12/31/2015 2.125% 12/31/2022

154,364.19 150,938.35 827.99 150,265.23 08/03/1808/01/18AaaAA+ 155,000.00 912828N30 2.87

US TREASURY NOTES

DTD 12/31/2015 2.125% 12/31/2022

497,949.00 492,393.09 2,670.93 492,070.31 01/31/1901/30/19AaaAA+ 500,000.00 912828N30 2.55

US TREASURY NOTES

DTD 02/01/2016 1.750% 01/31/2023

157,143.68 153,667.09 464.09 153,168.75 12/06/1812/04/18AaaAA+ 160,000.00 912828P38 2.85

US TREASURY NOTES

DTD 03/31/2016 1.500% 03/31/2023

194,359.40 190,113.97 8.20 188,000.00 05/02/1805/01/18AaaAA+ 200,000.00 912828Q29 2.82


DTD 05/31/2016 1.625% 05/31/2023

190,231.67 185,496.36 1,062.05 184,777.73 11/30/1811/29/18AaaAA+ 195,000.00 912828R69 2.88


DTD 05/31/2016 1.625% 05/31/2023

268,275.43 265,181.44 1,497.77 265,020.51 03/06/1903/04/19AaaAA+ 275,000.00 912828R69 2.53


14





Par



DTD 04/12/2017 1.625% 05/12/2020

39,663.76 39,965.12 250.97 39,905.20 04/12/1704/05/17AaaAAA 40,000.00 4581X0CX4 1.70


DTD 04/12/2017 1.625% 05/12/2020

64,453.61 64,943.32 407.83 64,845.95 04/12/1704/05/17AaaAAA 65,000.00 4581X0CX4 1.70


NOTE

DTD 01/25/2018 2.250% 01/25/2021

34,918.80 34,936.85 144.38 34,897.10 01/25/1801/18/18AaaAAA 35,000.00 45950KCM0 2.35



CA ST TXBL GO BONDS

DTD 04/25/2018 2.800% 04/01/2021

151,354.50 150,002.99 2,100.00 150,006.00 04/25/1804/18/18Aa3AA- 150,000.00 13063DGA0 2.80


DTD 10/26/2017 2.500% 10/01/2022

40,164.00 40,401.44 500.00 40,557.20 10/26/1710/18/17Aa3AA- 40,000.00 13063DDF2 2.20


DTD 10/26/2017 2.500% 10/01/2022

90,369.00 90,903.25 1,125.00 91,253.70 10/26/1710/18/17Aa3AA- 90,000.00 13063DDF2 2.20




DTD 10/01/2015 1.646% 09/01/2019

2,172.98 2,180.68 2.99 2,202.43 10/30/1510/07/15AaaAA+ 2,180.60 3136AQDQ0 1.08


DTD 10/01/2015 1.646% 09/01/2019

3,476.76 3,489.09 4.79 3,523.90 10/30/1510/07/15AaaAA+ 3,488.96 3136AQDQ0 1.08

FHMS K006 A2

DTD 04/01/2010 4.251% 01/25/2020

130,696.09 131,317.45 460.53 132,640.63 06/15/1806/12/18AaaAA+ 130,000.00 31398VJ98 1.57

FNA 2018-M5 A2

DTD 04/01/2018 3.560% 09/25/2021

73,809.80 73,949.45 216.24 74,340.86 04/30/1804/11/18AaaAA+ 72,890.99 3136B1XP4 2.27


DTD 12/01/2015 3.090% 08/25/2022

106,525.68 105,661.74 270.38 105,894.14 04/09/1804/04/18AaaAA+ 105,000.00 3137BM6P6 2.61

15





Par



DTD 09/01/2013 3.016% 02/01/2023

43,800.41 43,423.85 108.97 43,459.91 06/18/1806/13/18AaaAA+ 43,356.60 3137B4GX8 2.88


DTD 11/01/2013 2.669% 02/25/2023

50,322.40 50,050.53 111.84 50,024.94 06/18/1806/13/18AaaAA+ 50,282.25 3137B5JL8 2.81

FHMS KP05 A

DTD 12/01/2018 3.203% 07/01/2023

58,583.61 58,040.85 154.92 58,040.85 12/17/1812/07/18AaaAA+ 58,041.02 3137FKK39 3.11



FHLMC REFERENCE NOTE

DTD 07/20/2016 0.875% 07/19/2019

54,737.87 54,986.52 96.25 54,866.90 07/20/1607/19/16AaaAA+ 55,000.00 3137EAEB1 0.96


DTD 07/20/2016 0.875% 07/19/2019

119,428.08 119,970.58 210.00 119,709.60 07/20/1607/19/16AaaAA+ 120,000.00 3137EAEB1 0.96

FREDDIE MAC NOTES

DTD 07/19/2017 1.375% 08/15/2019

19,922.52 19,994.65 35.14 19,970.60 07/19/1707/18/17AaaAA+ 20,000.00 3137EAEH8 1.45

FREDDIE MAC NOTES

DTD 07/19/2017 1.375% 08/15/2019

24,903.15 24,993.31 43.92 24,963.25 07/19/1707/18/17AaaAA+ 25,000.00 3137EAEH8 1.45

FREDDIE MAC NOTES

DTD 07/19/2017 1.375% 08/15/2019

39,845.04 39,991.85 70.28 39,956.00 08/03/1708/01/17AaaAA+ 40,000.00 3137EAEH8 1.43

FHLB NOTES

DTD 02/09/2018 2.125% 02/11/2020

109,692.66 109,912.50 324.65 109,798.70 02/09/1802/08/18AaaAA+ 110,000.00 3130ADN32 2.22

FNMA NOTES

DTD 02/28/2017 1.500% 02/28/2020

49,584.45 49,990.16 68.75 49,968.00 02/28/1702/24/17AaaAA+ 50,000.00 3135G0T29 1.52

FNMA NOTES

DTD 02/28/2017 1.500% 02/28/2020

64,459.79 64,987.21 89.38 64,958.40 02/28/1702/24/17AaaAA+ 65,000.00 3135G0T29 1.52

FHLMC AGENCY NOTES

DTD 04/20/2017 1.375% 04/20/2020

49,456.75 49,939.13 307.47 49,829.00 04/20/1704/19/17AaaAA+ 50,000.00 3137EAEF2 1.49

FHLMC AGENCY NOTES

DTD 04/20/2017 1.375% 04/20/2020

64,293.78 64,920.87 399.70 64,777.70 04/20/1704/19/17AaaAA+ 65,000.00 3137EAEF2 1.49

16





Par


FANNIE MAE NOTES

DTD 11/01/2018 2.875% 10/30/2020

267,237.40 264,877.58 3,174.48 264,846.30 11/01/1810/30/18AaaAA+ 265,000.00 3135G0U84 2.91

FANNIE MAE NOTES

DTD 04/13/2018 2.500% 04/13/2021

65,240.96 64,933.56 758.33 64,903.15 04/13/1804/12/18AaaAA+ 65,000.00 3135G0U27 2.55

FANNIE MAE NOTES

DTD 06/25/2018 2.750% 06/22/2021

186,757.69 184,967.82 1,399.06 184,957.45 06/25/1806/22/18AaaAA+ 185,000.00 3135G0U35 2.76


(CALLABLE)

DTD 09/20/2018 3.000% 09/20/2021

200,545.00 200,000.00 183.33 200,000.00 09/20/1809/13/18AaaAA+ 200,000.00 3130AEXV7 3.00

FREDDIE MAC NOTES

DTD 06/11/2018 2.750% 06/19/2023

167,878.10 165,481.56 1,285.63 165,508.20 12/31/1812/27/18AaaAA+ 165,000.00 3137EAEN5 2.68


DTD 08/26/2013 3.375% 09/08/2023

156,907.65 152,449.55 323.44 152,609.40 12/06/1812/04/18AaaAA+ 150,000.00 313383YJ4 2.98

FANNIE MAE NOTES

DTD 02/08/2019 2.500% 02/05/2024

227,112.75 224,186.21 828.13 224,163.00 02/08/1902/07/19AaaAA+ 225,000.00 3135G0V34 2.58

FHLB BONDS

DTD 02/15/2019 2.500% 02/13/2024

181,685.34 179,378.14 575.00 179,362.80 02/15/1902/14/19AaaAA+ 180,000.00 3130AFW94 2.58


Corporate Note


(CALLABLE)

DTD 04/25/2016 2.000% 04/25/2019

29,985.48 29,998.10 260.00 29,916.60 04/25/1604/20/16A3BBB+ 30,000.00 38141GVT8 2.10


(CALLABLE)

DTD 04/25/2016 2.000% 04/25/2019

74,963.70 74,998.91 650.00 74,952.00 04/26/1604/21/16A3BBB+ 75,000.00 38141GVT8 2.02


(CALLABLE)

DTD 04/25/2016 2.000% 04/25/2019

144,929.82 144,997.88 1,256.67 144,907.20 04/26/1604/21/16A3BBB+ 145,000.00 38141GVT8 2.02

17





Par

Corporate Note

TOYOTA MOTOR CORP NOTES

DTD 10/18/2016 1.550% 10/18/2019

49,705.90 49,995.35 350.90 49,975.00 10/18/1610/13/16Aa3AA- 50,000.00 89236TDH5 1.57


NOTE

DTD 03/03/2017 2.200% 03/03/2020

59,721.48 59,980.38 102.67 59,937.60 03/03/1702/28/17A2A- 60,000.00 0258M0EE5 2.24


NOTE

DTD 03/03/2017 2.200% 03/03/2020

104,512.59 104,965.67 179.67 104,890.80 03/03/1702/28/17A2A- 105,000.00 0258M0EE5 2.24


DTD 04/17/2017 1.950% 04/17/2020

29,801.19 29,995.10 266.50 29,986.20 04/17/1704/11/17Aa3AA- 30,000.00 89236TDU6 1.97


DTD 04/17/2017 1.950% 04/17/2020

69,536.11 69,988.58 621.83 69,967.80 04/17/1704/11/17Aa3AA- 70,000.00 89236TDU6 1.97


DTD 09/07/2017 1.850% 09/04/2020

29,663.13 29,987.81 41.63 29,974.80 09/07/1709/05/17A3A 30,000.00 14913Q2A6 1.88


DTD 09/07/2017 1.850% 09/04/2020

64,270.12 64,973.60 90.19 64,945.40 09/07/1709/05/17A3A 65,000.00 14913Q2A6 1.88


DTD 09/08/2017 1.800% 01/20/2021

49,237.10 49,943.57 177.50 49,896.50 09/08/1709/05/17A1A 50,000.00 44932HAB9 1.86


DTD 09/08/2017 1.800% 01/20/2021

98,474.20 99,887.14 355.00 99,793.00 09/08/1709/05/17A1A 100,000.00 44932HAB9 1.86


DTD 02/27/2018 2.800% 03/01/2021

60,195.12 59,980.92 140.00 59,970.60 02/27/1802/22/18A1A+ 60,000.00 69371RN93 2.82


DTD 03/13/2018 2.875% 03/12/2021

80,384.16 79,964.10 121.39 79,945.60 03/13/1803/08/18A2A 80,000.00 24422EUD9 2.90

CATERPILLAR FINANCIAL SERVICES CORP

NOTE

DTD 03/15/2018 2.900% 03/15/2021

35,171.36 34,987.50 45.11 34,981.10 03/15/1803/12/18A3A 35,000.00 14913Q2G3 2.92


DTD 02/26/2018 2.900% 03/15/2021

55,281.82 54,959.92 70.89 54,938.95 02/26/1802/21/18A2A 55,000.00 63743HER9 2.94

18





Par

Corporate Note


DTD 02/26/2018 2.900% 03/15/2021

80,409.92 79,769.94 103.11 79,661.60 04/19/1804/12/18A2A 80,000.00 63743HER9 3.05


DTD 05/10/2018 3.100% 05/15/2021

60,598.44 59,970.32 702.67 59,958.60 05/10/1805/03/18A1A 60,000.00 427866BA5 3.12


DTD 05/22/2018 3.250% 05/21/2021

75,940.73 74,998.33 880.21 74,997.75 05/22/1805/17/18A2A 75,000.00 808513AW5 3.25


DTD 07/28/2011 5.500% 07/28/2021

84,649.44 84,905.57 770.00 88,892.80 03/29/1703/27/17A3BBB+ 80,000.00 61747WAL3 2.76


DTD 07/28/2011 5.500% 07/28/2021

137,555.34 137,971.55 1,251.25 144,450.80 03/29/1703/27/17A3BBB+ 130,000.00 61747WAL3 2.76


DTD 09/09/2016 1.700% 09/09/2021

97,663.50 99,658.20 103.89 99,317.00 09/14/1609/09/16A2A 100,000.00 02665WBG5 1.84


DTD 10/10/2018 3.375% 12/10/2021

132,280.85 129,943.07 1,352.81 129,937.60 10/10/1810/03/18A2A 130,000.00 02665WCP4 3.39


DTD 01/06/2017 2.650% 01/06/2022

24,989.23 24,935.20 156.42 24,889.75 03/15/1703/10/17A2A 25,000.00 24422ETL3 2.75


DTD 01/06/2017 2.650% 01/06/2022

59,974.14 59,844.48 375.42 59,735.40 03/15/1703/10/17A2A 60,000.00 24422ETL3 2.75

HOME DEPOT INC

DTD 12/06/2018 3.250% 03/01/2022

71,589.00 69,824.15 189.58 69,808.20 12/06/1811/27/18A2A 70,000.00 437076BV3 3.34

UNILEVER CAPITAL CORP

DTD 09/07/2018 3.000% 03/07/2022

100,983.80 99,590.88 200.00 99,516.00 09/07/1809/04/18A1A+ 100,000.00 904764BF3 3.15


DTD 03/21/2017 2.750% 04/01/2022

65,013.65 65,299.77 893.75 65,490.75 04/06/1704/03/17A2A- 65,000.00 05531FAX1 2.59


DTD 03/21/2017 2.750% 04/01/2022

135,028.35 135,622.60 1,856.25 136,019.25 04/06/1704/03/17A2A- 135,000.00 05531FAX1 2.59

WALT DISNEY COMPANY/THE CORP NOTES

DTD 11/30/2012 2.350% 12/01/2022

84,060.92 82,436.59 665.83 82,270.65 12/31/1812/27/18A2A 85,000.00 25468PCW4 3.23

19





Par

Corporate Note


DTD 03/22/2019 3.207% 04/01/2023

135,812.43 135,000.00 108.24 135,000.00 03/22/1903/15/19A2A- 135,000.00 46647PBB1 3.21


Commercial Paper

JP MORGAN SECURITIES LLC COMM PAPER

DTD 11/05/2018 0.000% 08/02/2019

198,131.00 197,950.00 0.00 195,533.33 11/07/1811/06/18P-1A-1 200,000.00 46640QV24 3.07




DTD 04/06/2017 1.910% 04/05/2019

64,990.45 65,000.00 613.85 65,000.00 04/06/1704/05/17P-1A-1 65,000.00 06417GUE6 1.91


DTD 04/06/2017 1.910% 04/05/2019

134,980.16 135,000.00 1,274.93 135,000.00 04/06/1704/05/17P-1A-1 135,000.00 06417GUE6 1.91

CREDIT SUISSE NEW YORK CERT DEPOS

DTD 02/08/2018 2.670% 02/07/2020

130,146.90 130,000.00 3,982.01 130,000.00 02/08/1802/07/18P-1A-1 130,000.00 22549LFR1 2.67


DTD 02/22/2018 2.720% 02/20/2020

100,221.70 100,000.00 309.78 100,000.00 02/22/1802/20/18P-1A-1+ 100,000.00 65590ASN7 2.72


DTD 10/18/2018 3.390% 10/16/2020

197,725.13 194,939.71 3,029.81 194,734.80 10/18/1810/16/18A1A 195,000.00 86565BPC9 3.46


DTD 02/28/2019 2.980% 02/25/2022

131,518.15 130,000.00 344.36 130,000.00 02/28/1902/27/19A1A 130,000.00 55379WZU3 3.01



FORD ABS 2017-A A3

DTD 01/25/2017 1.670% 06/15/2021

21,804.16 21,921.98 16.27 21,921.94 01/25/1701/18/17AaaNR 21,922.01 34531EAD8 1.67

FORD ABS 2017-A A3

DTD 01/25/2017 1.670% 06/15/2021

43,608.31 43,843.95 32.54 43,843.85 01/25/1701/18/17AaaNR 43,844.02 34531EAD8 1.67

20





Par


GMALT 2018-3 A3

DTD 09/26/2018 3.180% 06/20/2021

40,278.71 39,997.41 38.87 39,996.84 09/26/1809/18/18AaaAAA 40,000.00 36256GAD1 3.19


DTD 03/29/2017 1.760% 08/15/2021

25,572.96 25,715.64 20.12 25,714.58 03/29/1703/22/17NRAAA 25,716.66 44931PAD8 1.76

ALLY ABS 2017-2 A3

DTD 03/29/2017 1.780% 08/15/2021

34,465.86 34,622.08 27.39 34,620.12 03/29/1703/21/17AaaNR 34,624.19 02007HAC5 1.79


DTD 03/29/2017 1.760% 08/15/2021

51,145.93 51,429.96 40.23 51,429.17 03/29/1703/22/17NRAAA 51,433.33 44931PAD8 1.76

ALLY ABS 2017-2 A3

DTD 03/29/2017 1.780% 08/15/2021

75,824.90 76,168.57 60.26 76,164.24 03/29/1703/21/17AaaNR 76,173.22 02007HAC5 1.79

CCCIT 2017-A9 A9

DTD 10/02/2017 1.800% 09/20/2021

54,783.09 54,997.34 30.25 54,995.90 10/02/1709/25/17NRAAA 55,000.00 17305EGH2 1.80

CCCIT 2017-A9 A9

DTD 10/02/2017 1.800% 09/20/2021

99,605.62 99,995.16 55.00 99,992.55 10/02/1709/25/17NRAAA 100,000.00 17305EGH2 1.80

FORDL 2018-B A3

DTD 09/21/2018 3.190% 12/15/2021

55,416.07 54,996.09 77.98 54,995.35 09/21/1809/18/18AaaNR 55,000.00 34531LAD2 3.41

JDOT 2018-A A3

DTD 02/28/2018 2.660% 04/15/2022

30,013.25 29,998.36 35.47 29,997.84 02/28/1802/21/18AaaNR 30,000.00 47788CAC6 2.66

NAROT 2018-A A3

DTD 02/28/2018 2.650% 05/15/2022

70,059.65 69,993.99 82.44 69,992.00 02/28/1802/21/18AaaAAA 70,000.00 65478DAD9 2.66

CCCIT 2018-A1 A1

DTD 01/31/2018 2.490% 01/20/2023

199,710.74 198,022.81 982.17 197,789.06 08/23/1808/21/18AaaNR 200,000.00 17305EGK5 2.97

GMCAR 2018-3 A3

DTD 07/18/2018 3.020% 05/16/2023

50,392.41 49,989.97 62.92 49,988.34 07/18/1807/11/18NRAAA 50,000.00 36255JAD6 3.03

NAROT 2018-C A3

DTD 12/12/2018 3.220% 06/15/2023

91,175.36 89,983.92 128.80 89,982.76 12/12/1812/04/18AaaAAA 90,000.00 65478NAD7 3.53


DTD 10/24/2018 3.360% 09/15/2023

55,925.55 54,999.58 82.13 54,999.49 10/24/1810/17/18NRAAA 55,000.00 14315EAC4 3.36

21





Par



$13,248,953.85 $13,188,935.09 $62,191.84 $13,186,077.46 $13,209,791.42 2.31%

$13,271,983.26

$62,191.84

Total Investments

Accrued Interest


22


VENTURA REGIONAL SANITATION COASTAL - 120



Par


US TREASURY NOTES

DTD 10/31/2014 1.500% 10/31/2019

39,776.56 40,029.53 251.93 40,206.25 09/04/1509/03/15AaaAA+ 40,000.00 912828F62 1.37

US TREASURY NOTES

DTD 01/31/2018 2.000% 01/31/2020

34,883.80 34,956.67 116.02 34,897.46 02/01/1801/31/18AaaAA+ 35,000.00 9128283S7 2.15

US TREASURY NOTES

DTD 01/31/2013 1.375% 01/31/2020

99,144.50 98,874.42 227.90 98,320.31 10/31/1810/30/18AaaAA+ 100,000.00 912828UL2 2.75

US TREASURY NOTES

DTD 02/15/2017 1.375% 02/15/2020

123,862.25 124,996.57 213.66 124,990.24 08/31/1708/30/17AaaAA+ 125,000.00 912828W22 1.38

US TREASURY NOTES

DTD 08/31/2015 1.375% 08/31/2020

83,804.73 85,582.10 101.63 86,683.40 07/12/1607/07/16AaaAA+ 85,000.00 912828L32 0.89

US TREASURY NOTES

DTD 08/31/2015 1.375% 08/31/2020

172,539.15 175,698.79 209.24 176,948.24 09/02/1609/01/16AaaAA+ 175,000.00 912828L32 1.09

US TREASURY NOTES

DTD 05/02/2016 1.375% 04/30/2021

58,903.14 59,406.54 346.41 58,814.06 02/03/1702/01/17AaaAA+ 60,000.00 912828Q78 1.86

US TREASURY NOTES

DTD 08/01/2016 1.125% 07/31/2021

34,096.30 34,449.52 65.26 34,058.01 07/11/1707/10/17AaaAA+ 35,000.00 912828S76 1.82

US TREASURY NOTES

DTD 09/02/2014 2.000% 08/31/2021

178,867.98 180,283.17 313.04 180,541.41 12/05/1612/01/16AaaAA+ 180,000.00 912828D72 1.93

US TREASURY NOTES

DTD 10/31/2016 1.250% 10/31/2021

116,976.60 118,818.36 629.83 118,115.63 08/31/1708/30/17AaaAA+ 120,000.00 912828T67 1.64

US TREASURY NOTES

DTD 01/03/2017 2.000% 12/31/2021

79,506.24 80,601.69 402.21 80,971.87 06/28/1706/26/17AaaAA+ 80,000.00 912828U81 1.72

US TREASURY NOTES

DTD 02/02/2015 1.500% 01/31/2022

44,082.41 44,533.46 111.88 44,259.96 07/07/1707/05/17AaaAA+ 45,000.00 912828H86 1.88


DTD 02/28/2017 1.875% 02/28/2022

54,430.64 54,826.58 89.67 54,744.34 10/26/1710/25/17AaaAA+ 55,000.00 912828W55 1.99

US TREASURY NOTES

DTD 07/31/2017 1.875% 07/31/2022

69,187.86 69,232.66 217.54 68,960.94 01/04/1801/02/18AaaAA+ 70,000.00 9128282P4 2.22

23





Par


US TREASURY NOTES

DTD 09/30/2015 1.750% 09/30/2022

49,183.60 48,365.69 2.39 48,003.91 06/06/1806/04/18AaaAA+ 50,000.00 912828L57 2.74

US TREASURY NOTES

DTD 10/02/2017 1.875% 09/30/2022

133,396.88 131,992.97 6.92 131,187.30 04/04/1804/02/18AaaAA+ 135,000.00 9128282W9 2.54

US TREASURY NOTES

DTD 09/30/2015 1.750% 09/30/2022

137,714.08 138,359.93 6.69 137,763.28 11/30/1711/29/17AaaAA+ 140,000.00 912828L57 2.10

US TREASURY NOTES

DTD 12/31/2015 2.125% 12/31/2022

54,774.39 53,823.16 293.80 53,605.66 07/06/1807/03/18AaaAA+ 55,000.00 912828N30 2.73

US TREASURY NOTES

DTD 12/31/2015 2.125% 12/31/2022

149,384.70 147,717.93 801.28 147,621.09 01/31/1901/30/19AaaAA+ 150,000.00 912828N30 2.55

US TREASURY NOTES

DTD 02/01/2016 1.750% 01/31/2023

58,928.88 57,625.16 174.03 57,438.28 12/06/1812/04/18AaaAA+ 60,000.00 912828P38 2.85

US TREASURY NOTES

DTD 02/01/2016 1.750% 01/31/2023

78,571.84 76,526.32 232.04 76,184.38 11/06/1811/01/18AaaAA+ 80,000.00 912828P38 2.96


DTD 05/31/2016 1.625% 05/31/2023

73,166.03 72,322.21 408.48 72,278.32 03/06/1903/04/19AaaAA+ 75,000.00 912828R69 2.53

US TREASURY NOTES

DTD 06/30/2016 1.375% 06/30/2023

120,629.88 118,840.88 432.06 118,496.09 12/31/1812/26/18AaaAA+ 125,000.00 912828S35 2.61




DTD 04/12/2017 1.625% 05/12/2020

29,747.82 29,973.84 188.23 29,928.90 04/12/1704/05/17AaaAAA 30,000.00 4581X0CX4 1.70


NOTE

DTD 03/16/2018 2.635% 03/09/2021

39,991.72 39,980.14 64.41 39,970.00 03/16/1803/09/18AaaAAA 40,000.00 45950VLQ7 2.66



24





Par


CA ST TXBL GO BONDS

DTD 04/25/2018 2.800% 04/01/2021

50,451.50 50,001.00 700.00 50,002.00 04/25/1804/18/18Aa3AA- 50,000.00 13063DGA0 2.80


DTD 10/26/2017 2.500% 10/01/2022

40,164.00 40,401.44 500.00 40,557.20 10/26/1710/18/17Aa3AA- 40,000.00 13063DDF2 2.20




DTD 10/01/2015 1.646% 09/01/2019

2,172.98 2,180.68 2.99 2,202.43 10/30/1510/07/15AaaAA+ 2,180.60 3136AQDQ0 1.08

FHMS K006 A2

DTD 04/01/2010 4.251% 01/25/2020

60,321.27 60,608.05 212.55 61,218.75 06/15/1806/12/18AaaAA+ 60,000.00 31398VJ98 1.57

FNA 2018-M5 A2

DTD 04/01/2018 3.560% 09/25/2021

31,077.81 31,136.61 91.05 31,301.41 04/30/1804/11/18AaaAA+ 30,690.94 3136B1XP4 2.27


DTD 12/01/2015 3.090% 08/25/2022

35,508.56 35,220.58 90.13 35,298.05 04/09/1804/04/18AaaAA+ 35,000.00 3137BM6P6 2.61


DTD 09/01/2013 3.016% 02/01/2023

12,882.47 12,771.72 32.05 12,782.32 06/18/1806/13/18AaaAA+ 12,751.94 3137B4GX8 2.88


DTD 11/01/2013 2.669% 02/25/2023

16,774.13 16,683.51 37.28 16,674.98 06/18/1806/13/18AaaAA+ 16,760.75 3137B5JL8 2.81

FHMS KP05 A

DTD 12/01/2018 3.203% 07/01/2023

18,025.72 17,858.72 47.67 17,858.72 12/17/1812/07/18AaaAA+ 17,858.77 3137FKK39 3.11




DTD 05/12/2017 1.375% 05/28/2019

89,848.35 89,996.87 422.81 89,960.40 05/16/1705/15/17AaaAA+ 90,000.00 3130ABF92 1.40


DTD 07/20/2016 0.875% 07/19/2019

49,761.70 49,987.74 87.50 49,879.00 07/20/1607/19/16AaaAA+ 50,000.00 3137EAEB1 0.96

25





Par


FHLMC AGENCY NOTES

DTD 04/20/2017 1.375% 04/20/2020

19,782.70 19,975.65 122.99 19,931.60 04/20/1704/19/17AaaAA+ 20,000.00 3137EAEF2 1.49

FHLB NOTES

DTD 09/08/2017 1.375% 09/28/2020

14,775.72 14,976.20 1.72 14,951.85 09/08/1709/07/17AaaAA+ 15,000.00 3130ACE26 1.48


DTD 09/07/2018 2.625% 10/01/2020

100,416.80 99,842.01 1,312.50 99,785.00 09/07/1809/06/18AaaAA+ 100,000.00 3130AEWA4 2.73

FANNIE MAE NOTES

DTD 11/01/2018 2.875% 10/30/2020

85,717.66 84,960.73 1,018.23 84,950.70 11/01/1810/30/18AaaAA+ 85,000.00 3135G0U84 2.91

FANNIE MAE NOTES

DTD 06/25/2018 2.750% 06/22/2021

60,570.06 59,989.56 453.75 59,986.20 06/25/1806/22/18AaaAA+ 60,000.00 3135G0U35 2.76


(CALLABLE)

DTD 09/20/2018 3.000% 09/20/2021

60,163.50 60,000.00 55.00 60,000.00 09/20/1809/13/18AaaAA+ 60,000.00 3130AEXV7 3.00


DTD 08/26/2013 3.375% 09/08/2023

52,302.55 50,816.52 107.81 50,869.80 12/06/1812/04/18AaaAA+ 50,000.00 313383YJ4 2.98

FANNIE MAE NOTES

DTD 02/08/2019 2.500% 02/05/2024

80,751.20 79,710.65 294.44 79,702.40 02/08/1902/07/19AaaAA+ 80,000.00 3135G0V34 2.58

FHLB BONDS

DTD 02/15/2019 2.500% 02/13/2024

65,608.60 64,775.44 207.64 64,769.90 02/15/1902/14/19AaaAA+ 65,000.00 3130AFW94 2.58


Corporate Note


(CALLABLE)

DTD 04/25/2016 2.000% 04/25/2019

74,963.70 74,998.91 650.00 74,952.00 04/26/1604/21/16A3BBB+ 75,000.00 38141GVT8 2.02


NOTE

DTD 03/03/2017 2.200% 03/03/2020

59,721.48 59,980.38 102.67 59,937.60 03/03/1702/28/17A2A- 60,000.00 0258M0EE5 2.24

26





Par

Corporate Note


DTD 04/17/2017 1.950% 04/17/2020

29,801.19 29,995.10 266.50 29,986.20 04/17/1704/11/17Aa3AA- 30,000.00 89236TDU6 1.97


DTD 09/07/2017 1.850% 09/04/2020

34,606.99 34,985.78 48.56 34,970.60 09/07/1709/05/17A3A 35,000.00 14913Q2A6 1.88


DTD 09/08/2017 1.800% 01/20/2021

49,237.10 49,943.57 177.50 49,896.50 09/08/1709/05/17A1A 50,000.00 44932HAB9 1.86

AMERICAN HONDA FINANCE

DTD 02/15/2018 2.650% 02/12/2021

39,968.20 39,964.56 144.28 39,944.00 02/15/1802/12/18A2A 40,000.00 02665WCD1 2.70


DTD 02/27/2018 2.800% 03/01/2021

20,065.04 19,993.64 46.67 19,990.20 02/27/1802/22/18A1A+ 20,000.00 69371RN93 2.82


DTD 03/13/2018 2.875% 03/12/2021

30,144.06 29,986.54 45.52 29,979.60 03/13/1803/08/18A2A 30,000.00 24422EUD9 2.90


DTD 02/26/2018 2.900% 03/15/2021

15,076.86 14,989.07 19.33 14,983.35 02/26/1802/21/18A2A 15,000.00 63743HER9 2.94


DTD 02/26/2018 2.900% 03/15/2021

30,153.72 29,913.73 38.67 29,873.10 04/19/1804/12/18A2A 30,000.00 63743HER9 3.05


DTD 05/10/2018 3.100% 05/15/2021

25,249.35 24,987.63 292.78 24,982.75 05/10/1805/03/18A1A 25,000.00 427866BA5 3.12


DTD 05/22/2018 3.250% 05/21/2021

25,313.58 24,999.44 293.40 24,999.25 05/22/1805/17/18A2A 25,000.00 808513AW5 3.25


DTD 07/28/2011 5.500% 07/28/2021

79,358.85 79,598.97 721.88 83,337.00 03/29/1703/27/17A3BBB+ 75,000.00 61747WAL3 2.76


DTD 01/06/2017 2.650% 01/06/2022

29,987.07 29,922.24 187.71 29,867.70 03/15/1703/10/17A2A 30,000.00 24422ETL3 2.75

HOME DEPOT INC

DTD 12/06/2018 3.250% 03/01/2022

25,567.50 24,937.20 67.71 24,931.50 12/06/1811/27/18A2A 25,000.00 437076BV3 3.34


DTD 03/21/2017 2.750% 04/01/2022

60,012.60 60,276.71 825.00 60,453.00 04/06/1704/03/17A2A- 60,000.00 05531FAX1 2.59

27





Par

Corporate Note


DTD 03/22/2019 3.207% 04/01/2023

50,300.90 50,000.00 40.09 50,000.00 03/22/1903/15/19A2A- 50,000.00 46647PBB1 3.21




DTD 04/06/2017 1.910% 04/05/2019

59,991.18 60,000.00 566.63 60,000.00 04/06/1704/05/17P-1A-1 60,000.00 06417GUE6 1.91


DTD 02/22/2018 2.720% 02/20/2020

50,110.85 50,000.00 154.89 50,000.00 02/22/1802/20/18P-1A-1+ 50,000.00 65590ASN7 2.72


DTD 10/18/2018 3.390% 10/16/2020

50,698.75 49,984.54 776.88 49,932.00 10/18/1810/16/18A1A 50,000.00 86565BPC9 3.46


DTD 02/28/2019 2.980% 02/25/2022

40,467.12 40,000.00 105.96 40,000.00 02/28/1902/27/19A1A 40,000.00 55379WZU3 3.01



FORD ABS 2017-A A3

DTD 01/25/2017 1.670% 06/15/2021

18,170.13 18,268.31 13.56 18,268.28 01/25/1701/18/17AaaNR 18,268.34 34531EAD8 1.67

GMALT 2018-3 A3

DTD 09/26/2018 3.180% 06/20/2021

10,069.68 9,999.35 9.72 9,999.21 09/26/1809/18/18AaaAAA 10,000.00 36256GAD1 3.19


DTD 03/29/2017 1.760% 08/15/2021

21,310.80 21,429.70 16.76 21,428.82 03/29/1703/22/17NRAAA 21,430.55 44931PAD8 1.76

ALLY ABS 2017-2 A3

DTD 03/29/2017 1.780% 08/15/2021

34,465.86 34,622.08 27.39 34,620.11 03/29/1703/21/17AaaNR 34,624.19 02007HAC5 1.79

CCCIT 2017-A9 A9

DTD 10/02/2017 1.800% 09/20/2021

49,802.81 49,997.58 27.50 49,996.28 10/02/1709/25/17NRAAA 50,000.00 17305EGH2 1.80

FORDL 2018-B A3

DTD 09/21/2018 3.190% 12/15/2021

20,151.30 19,998.58 28.36 19,998.31 09/21/1809/18/18AaaNR 20,000.00 34531LAD2 3.41

28





Par


JDOT 2018-A A3

DTD 02/28/2018 2.660% 04/15/2022

10,004.42 9,999.45 11.82 9,999.28 02/28/1802/21/18AaaNR 10,000.00 47788CAC6 2.66

NAROT 2018-A A3

DTD 02/28/2018 2.650% 05/15/2022

20,017.04 19,998.28 23.56 19,997.71 02/28/1802/21/18AaaAAA 20,000.00 65478DAD9 2.66

CCCIT 2018-A1 A1

DTD 01/31/2018 2.490% 01/20/2023

79,884.30 79,209.12 392.87 79,115.63 08/23/1808/21/18AaaNR 80,000.00 17305EGK5 2.97

GMCAR 2018-3 A3

DTD 07/18/2018 3.020% 05/16/2023

20,156.96 19,995.99 25.17 19,995.34 07/18/1807/11/18NRAAA 20,000.00 36255JAD6 3.03



$4,244,566.08 $4,224,107.36 $17,854.00 $4,222,688.42 $4,227,458.65 2.28%

$4,245,312.65

$17,854.00

Total Investments

Accrued Interest


29


VENTURA REGIONAL SANITATION BAILARD - 130



Par


US TREASURY NOTES

DTD 10/31/2014 1.500% 10/31/2019

183,966.59 185,136.55 1,165.19 185,953.91 09/04/1509/03/15AaaAA+ 185,000.00 912828F62 1.37

US TREASURY NOTES

DTD 01/31/2018 2.000% 01/31/2020

54,817.40 54,931.91 182.32 54,838.87 02/01/1801/31/18AaaAA+ 55,000.00 9128283S7 2.15

US TREASURY NOTES

DTD 01/31/2013 1.375% 01/31/2020

89,230.05 88,986.98 205.11 88,488.28 10/31/1810/30/18AaaAA+ 90,000.00 912828UL2 2.75

US TREASURY NOTES

DTD 02/15/2017 1.375% 02/15/2020

69,362.86 69,999.06 119.65 69,997.26 08/31/1708/30/17AaaAA+ 70,000.00 912828W22 1.38

US TREASURY NOTES

DTD 07/31/2013 2.000% 07/31/2020

89,564.04 90,986.41 298.34 93,079.69 05/06/1605/03/16AaaAA+ 90,000.00 912828VP2 1.17

US TREASURY NOTES

DTD 08/31/2015 1.375% 08/31/2020

108,453.18 110,439.24 131.52 111,224.61 09/02/1609/01/16AaaAA+ 110,000.00 912828L32 1.09

US TREASURY NOTES

DTD 12/31/2015 1.750% 12/31/2020

29,704.68 30,379.75 131.98 30,943.36 08/05/1608/02/16AaaAA+ 30,000.00 912828N48 1.02

US TREASURY NOTES

DTD 02/28/2014 2.000% 02/28/2021

24,857.43 25,398.10 43.48 25,903.32 10/05/1610/03/16AaaAA+ 25,000.00 912828B90 1.16

US TREASURY NOTES

DTD 05/02/2016 1.375% 04/30/2021

63,811.74 64,357.09 375.28 63,715.24 02/03/1702/01/17AaaAA+ 65,000.00 912828Q78 1.86

US TREASURY NOTES

DTD 05/02/2016 1.375% 04/30/2021

78,537.52 77,931.21 461.88 77,346.88 08/23/1808/21/18AaaAA+ 80,000.00 912828Q78 2.66

US TREASURY NOTES

DTD 08/01/2016 1.125% 07/31/2021

43,838.10 44,292.24 83.91 43,788.87 07/11/1707/10/17AaaAA+ 45,000.00 912828S76 1.82

US TREASURY NOTES

DTD 09/02/2014 2.000% 08/31/2021

158,993.76 160,251.70 278.26 160,481.25 12/05/1612/01/16AaaAA+ 160,000.00 912828D72 1.93

US TREASURY NOTES

DTD 10/31/2016 1.250% 10/31/2021

136,472.70 138,621.42 734.81 137,801.57 08/31/1708/30/17AaaAA+ 140,000.00 912828T67 1.64

US TREASURY NOTES

DTD 01/03/2017 2.000% 12/31/2021

89,444.52 90,676.90 452.49 91,093.36 06/28/1706/26/17AaaAA+ 90,000.00 912828U81 1.72

30





Par


US TREASURY NOTES

DTD 01/03/2017 2.000% 12/31/2021

173,919.90 174,847.03 879.83 174,774.41 11/30/1711/29/17AaaAA+ 175,000.00 912828U81 2.03

US TREASURY NOTES

DTD 02/02/2015 1.500% 01/31/2022

88,164.81 89,066.91 223.76 88,519.92 07/07/1707/05/17AaaAA+ 90,000.00 912828H86 1.88


DTD 02/28/2017 1.875% 02/28/2022

84,120.08 84,731.99 138.59 84,604.88 10/26/1710/25/17AaaAA+ 85,000.00 912828W55 1.99

US TREASURY NOTES

DTD 07/31/2017 1.875% 07/31/2022

153,201.69 153,300.90 481.70 152,699.22 01/04/1801/02/18AaaAA+ 155,000.00 9128282P4 2.22

US TREASURY NOTES

DTD 09/30/2015 1.750% 09/30/2022

34,428.52 33,857.55 1.67 33,605.47 06/07/1806/05/18AaaAA+ 35,000.00 912828L57 2.74

US TREASURY NOTES

DTD 09/30/2015 1.750% 09/30/2022

127,877.36 125,750.80 6.22 124,810.16 06/06/1806/04/18AaaAA+ 130,000.00 912828L57 2.74

US TREASURY NOTES

DTD 10/02/2017 1.875% 09/30/2022

138,337.50 136,881.60 7.17 136,046.09 04/04/1804/02/18AaaAA+ 140,000.00 9128282W9 2.54

US TREASURY NOTES

DTD 12/31/2015 2.125% 12/31/2022

69,712.86 68,165.71 373.93 67,861.72 08/03/1808/01/18AaaAA+ 70,000.00 912828N30 2.87

US TREASURY NOTES

DTD 12/31/2015 2.125% 12/31/2022

124,487.25 123,098.27 667.73 123,017.58 01/31/1901/30/19AaaAA+ 125,000.00 912828N30 2.55

US TREASURY NOTES

DTD 02/01/2016 1.750% 01/31/2023

98,214.80 96,041.93 290.06 95,730.47 12/06/1812/04/18AaaAA+ 100,000.00 912828P38 2.85


DTD 05/31/2016 1.625% 05/31/2023

97,554.70 96,429.61 544.64 96,371.09 03/06/1903/04/19AaaAA+ 100,000.00 912828R69 2.53

US TREASURY NOTES

DTD 06/30/2016 1.375% 06/30/2023

231,609.36 228,174.48 829.56 227,512.50 12/31/1812/26/18AaaAA+ 240,000.00 912828S35 2.61




DTD 04/12/2017 1.625% 05/12/2020

39,663.76 39,965.12 250.97 39,905.20 04/12/1704/05/17AaaAAA 40,000.00 4581X0CX4 1.70

31





Par



NOTE

DTD 01/25/2018 2.250% 01/25/2021

19,953.60 19,963.92 82.50 19,941.20 01/25/1801/18/18AaaAAA 20,000.00 45950KCM0 2.35


NOTE

DTD 03/16/2018 2.635% 03/09/2021

59,987.58 59,970.20 96.62 59,955.00 03/16/1803/09/18AaaAAA 60,000.00 45950VLQ7 2.66

INTL BANK OF RECONSTRUCTION AND DEV

NOTE

DTD 07/25/2018 2.750% 07/23/2021

70,676.83 69,872.36 363.61 69,836.20 07/25/1807/18/18AaaAAA 70,000.00 459058GH0 2.83



CA ST TXBL GO BONDS

DTD 04/25/2018 2.800% 04/01/2021

70,632.10 70,001.40 980.00 70,002.80 04/25/1804/18/18Aa3AA- 70,000.00 13063DGA0 2.80


DTD 10/26/2017 2.500% 10/01/2022

55,225.50 55,551.98 687.50 55,766.15 10/26/1710/18/17Aa3AA- 55,000.00 13063DDF2 2.20




DTD 10/01/2015 1.646% 09/01/2019

2,607.57 2,616.82 3.59 2,642.92 10/30/1510/07/15AaaAA+ 2,616.72 3136AQDQ0 1.08

FHMS K006 A2

DTD 04/01/2010 4.251% 01/25/2020

40,214.18 40,405.37 141.70 40,812.50 06/15/1806/12/18AaaAA+ 40,000.00 31398VJ98 1.57

FNA 2018-M5 A2

DTD 04/01/2018 3.560% 09/25/2021

42,731.99 42,812.84 125.19 43,039.45 04/30/1804/11/18AaaAA+ 42,200.05 3136B1XP4 2.27


DTD 12/01/2015 3.090% 08/25/2022

40,581.21 40,252.09 103.00 40,340.63 04/09/1804/04/18AaaAA+ 40,000.00 3137BM6P6 2.61


DTD 09/01/2013 3.016% 02/01/2023

20,611.96 20,434.76 51.28 20,451.72 06/18/1806/13/18AaaAA+ 20,403.11 3137B4GX8 2.88

32





Par



DTD 11/01/2013 2.669% 02/25/2023

22,365.51 22,244.68 49.70 22,233.31 06/18/1806/13/18AaaAA+ 22,347.67 3137B5JL8 2.81

FHMS KP05 A

DTD 12/01/2018 3.203% 07/01/2023

27,038.59 26,788.08 71.50 26,788.08 12/17/1812/07/18AaaAA+ 26,788.16 3137FKK39 3.11



FHLB GLOBAL NOTE

DTD 08/04/2016 0.875% 08/05/2019

139,234.06 139,968.80 190.56 139,731.20 08/04/1608/03/16AaaAA+ 140,000.00 3130A8Y72 0.94

FREDDIE MAC NOTES

DTD 07/19/2017 1.375% 08/15/2019

119,535.12 119,975.54 210.83 119,868.00 08/03/1708/01/17AaaAA+ 120,000.00 3137EAEH8 1.43

FNMA NOTES

DTD 02/28/2017 1.500% 02/28/2020

69,418.23 69,986.22 96.25 69,955.20 02/28/1702/24/17AaaAA+ 70,000.00 3135G0T29 1.52


DTD 09/07/2018 2.625% 10/01/2020

100,416.80 99,842.01 1,312.50 99,785.00 09/07/1809/06/18AaaAA+ 100,000.00 3130AEWA4 2.73

FANNIE MAE NOTES

DTD 11/01/2018 2.875% 10/30/2020

121,013.16 119,944.56 1,437.50 119,930.40 11/01/1810/30/18AaaAA+ 120,000.00 3135G0U84 2.91

FANNIE MAE NOTES

DTD 04/13/2018 2.500% 04/13/2021

35,129.75 34,964.23 408.33 34,947.85 04/13/1804/12/18AaaAA+ 35,000.00 3135G0U27 2.55

FANNIE MAE NOTES

DTD 06/25/2018 2.750% 06/22/2021

80,760.08 79,986.09 605.00 79,981.60 06/25/1806/22/18AaaAA+ 80,000.00 3135G0U35 2.76


(CALLABLE)

DTD 09/20/2018 3.000% 09/20/2021

85,231.63 85,000.00 77.92 85,000.00 09/20/1809/13/18AaaAA+ 85,000.00 3130AEXV7 3.00


DTD 08/26/2013 3.375% 09/08/2023

115,065.61 111,796.34 237.19 111,913.56 12/06/1812/04/18AaaAA+ 110,000.00 313383YJ4 2.98

FANNIE MAE NOTES

DTD 02/08/2019 2.500% 02/05/2024

100,939.00 99,638.31 368.06 99,628.00 02/08/1902/07/19AaaAA+ 100,000.00 3135G0V34 2.58

33





Par


FHLB BONDS

DTD 02/15/2019 2.500% 02/13/2024

80,749.04 79,723.62 255.56 79,716.80 02/15/1902/14/19AaaAA+ 80,000.00 3130AFW94 2.58


Corporate Note


(CALLABLE)

DTD 04/25/2016 2.000% 04/25/2019

109,946.76 109,998.40 953.33 109,929.60 04/26/1604/21/16A3BBB+ 110,000.00 38141GVT8 2.02


NOTE

DTD 03/03/2017 2.200% 03/03/2020

49,767.90 49,983.65 85.56 49,948.00 03/03/1702/28/17A2A- 50,000.00 0258M0EE5 2.24

WALT DISNEY COMPANY CORP NOTES

DTD 03/06/2017 1.950% 03/04/2020

14,899.22 14,998.77 21.94 14,996.10 03/06/1703/01/17A2A 15,000.00 25468PDP8 1.96


DTD 04/17/2017 1.950% 04/17/2020

39,734.92 39,993.47 355.33 39,981.60 04/17/1704/11/17Aa3AA- 40,000.00 89236TDU6 1.97


DTD 09/07/2017 1.850% 09/04/2020

39,550.84 39,983.75 55.50 39,966.40 09/07/1709/05/17A3A 40,000.00 14913Q2A6 1.88


DTD 09/08/2017 1.800% 01/20/2021

59,084.52 59,932.29 213.00 59,875.80 09/08/1709/05/17A1A 60,000.00 44932HAB9 1.86

AMERICAN HONDA FINANCE

DTD 02/15/2018 2.650% 02/12/2021

54,956.28 54,951.27 198.38 54,923.00 02/15/1802/12/18A2A 55,000.00 02665WCD1 2.70


DTD 02/27/2018 2.800% 03/01/2021

30,097.56 29,990.46 70.00 29,985.30 02/27/1802/22/18A1A+ 30,000.00 69371RN93 2.82


DTD 03/13/2018 2.875% 03/12/2021

35,168.07 34,984.29 53.11 34,976.20 03/13/1803/08/18A2A 35,000.00 24422EUD9 2.90


DTD 02/26/2018 2.900% 03/15/2021

25,128.10 24,981.78 32.22 24,972.25 02/26/1802/21/18A2A 25,000.00 63743HER9 2.94


DTD 02/26/2018 2.900% 03/15/2021

25,128.10 24,928.10 32.22 24,894.25 04/19/1804/12/18A2A 25,000.00 63743HER9 3.05

34





Par

Corporate Note


DTD 05/10/2018 3.100% 05/15/2021

25,249.35 24,987.63 292.78 24,982.75 05/10/1805/03/18A1A 25,000.00 427866BA5 3.12


DTD 05/22/2018 3.250% 05/21/2021

35,439.01 34,999.22 410.76 34,998.95 05/22/1805/17/18A2A 35,000.00 808513AW5 3.25


DTD 07/28/2011 5.500% 07/28/2021

105,811.80 106,131.97 962.50 111,116.00 03/29/1703/27/17A3BBB+ 100,000.00 61747WAL3 2.76


DTD 01/06/2017 2.650% 01/06/2022

39,982.76 39,896.32 250.28 39,823.60 03/15/1703/10/17A2A 40,000.00 24422ETL3 2.75

HOME DEPOT INC

DTD 12/06/2018 3.250% 03/01/2022

30,681.00 29,924.64 81.25 29,917.80 12/06/1811/27/18A2A 30,000.00 437076BV3 3.34


DTD 03/21/2017 2.750% 04/01/2022

100,021.00 100,461.18 1,375.00 100,755.00 04/06/1704/03/17A2A- 100,000.00 05531FAX1 2.59


DTD 03/22/2019 3.207% 04/01/2023

60,361.08 60,000.00 48.11 60,000.00 03/22/1903/15/19A2A- 60,000.00 46647PBB1 3.21




DTD 02/22/2018 2.720% 02/20/2020

60,133.02 60,000.00 185.87 60,000.00 02/22/1802/20/18P-1A-1+ 60,000.00 65590ASN7 2.72


DTD 06/07/2018 3.080% 06/05/2020

50,350.00 49,988.61 496.22 49,981.00 06/07/1806/05/18Aa2A+ 50,000.00 06417GU22 3.10

WESTPAC BANKING CORP NY CD

DTD 08/07/2017 2.050% 08/03/2020

64,635.42 65,000.00 199.88 65,000.00 08/07/1708/03/17Aa3AA- 65,000.00 96121T4A3 2.05


DTD 10/18/2018 3.390% 10/16/2020

81,118.00 79,975.26 1,243.00 79,891.20 10/18/1810/16/18A1A 80,000.00 86565BPC9 3.46


DTD 02/28/2019 2.980% 02/25/2022

55,642.30 55,000.00 145.69 55,000.00 02/28/1902/27/19A1A 55,000.00 55379WZU3 3.01


35





Par


FORD ABS 2017-A A3

DTD 01/25/2017 1.670% 06/15/2021

29,072.20 29,229.29 21.69 29,229.23 01/25/1701/18/17AaaNR 29,229.34 34531EAD8 1.67

GMALT 2018-3 A3

DTD 09/26/2018 3.180% 06/20/2021

20,139.36 19,998.71 19.43 19,998.42 09/26/1809/18/18AaaAAA 20,000.00 36256GAD1 3.19


DTD 03/29/2017 1.760% 08/15/2021

34,097.29 34,287.53 26.82 34,286.11 03/29/1703/22/17NRAAA 34,288.89 44931PAD8 1.76

ALLY ABS 2017-2 A3

DTD 03/29/2017 1.780% 08/15/2021

48,252.21 48,470.91 38.35 48,468.15 03/29/1703/21/17AaaNR 48,473.87 02007HAC5 1.79

FORDL 2018-B A3

DTD 09/21/2018 3.190% 12/15/2021

25,189.12 24,998.22 35.44 24,997.89 09/21/1809/18/18AaaNR 25,000.00 34531LAD2 3.41

JDOT 2018-A A3

DTD 02/28/2018 2.660% 04/15/2022

10,004.42 9,999.45 11.82 9,999.28 02/28/1802/21/18AaaNR 10,000.00 47788CAC6 2.66

NAROT 2018-A A3

DTD 02/28/2018 2.650% 05/15/2022

25,021.30 24,997.85 29.44 24,997.14 02/28/1802/21/18AaaAAA 25,000.00 65478DAD9 2.66

ALLYA 2018-2 A3

DTD 04/30/2018 2.920% 11/15/2022

40,157.28 39,994.13 51.91 39,992.74 04/30/1804/24/18AaaNR 40,000.00 02004VAC7 2.93

MBART 2018-1 A3

DTD 07/25/2018 3.030% 01/15/2023

45,344.09 44,998.55 60.60 44,998.27 07/25/1807/17/18AaaAAA 45,000.00 58772RAD6 3.03

ALLYA 2018-3 A3

DTD 06/27/2018 3.000% 01/15/2023

50,271.20 49,997.14 66.67 49,996.58 06/27/1806/19/18AaaAAA 50,000.00 02007JAC1 3.09

GMCAR 2018-3 A3

DTD 07/18/2018 3.020% 05/16/2023

30,235.45 29,993.98 37.75 29,993.00 07/18/1807/11/18NRAAA 30,000.00 36255JAD6 3.03


DTD 07/25/2018 3.130% 06/15/2023

35,364.36 34,995.87 48.69 34,995.23 07/25/1807/18/18NRAAA 35,000.00 14313FAD1 3.36

NAROT 2018-C A3

DTD 12/12/2018 3.220% 06/15/2023

40,522.38 39,992.85 57.24 39,992.34 12/12/1812/04/18AaaAAA 40,000.00 65478NAD7 3.53


36





Par


$5,846,347.81 $5,820,241.93 $25,583.72 $5,817,486.22 $5,829,023.93 2.33%

$5,854,607.65

$25,583.72

Total Investments

Accrued Interest


37

Date post:	01-Jun-2020
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Ventura Regional Sanitation District• Prepared based on the District’s Investment Policy revised...

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