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Home My WebLink About08 - August 28, 2026 - Quarterly Investment Treasurer's Report for June 2026CITY COUNCIL INFORMATIONAL MEMORANDUM Date: August 28, 2026 To: Cupertino City Council From: Jonathan Orozco, Finance Director Re: Receive the Treasurer's Investment Report for the Quarter Ending June 30, 2026 Background On May 19, 2026, the City Council approved the City Investment Policy. Per the City's Investment Policy, the Treasurer shall submit a quarterly investment report to the City Council approximately 45 days following the end of the quarter. In addition to the quarterly investment reports, monthly transaction reports are submitted to the City Council within 30 days of the end of the reporting period per California Government Code Section 53607. The quarterly investment report offers a more extensive discussion of the City's economy, cash flow, and investments. The City's Municipal Code Section 2.24.050 Investment Authority states that the Treasurer shall make a monthly report of all investment transactions to the City Council. The City's Municipal Code Section 2.48.020(A)(3) states that the Finance Director shall be appointed Treasurer and also shall act as ex officio Assessor and shall assess and collect all City taxes save and except for those collected by State and County officers for the City. Lastly, the City's Municipal Code Section 2.88.100 Duties–Powers–Responsibilities lists one of the powers and functions of the Audit Committee is "to review the quarterly Treasurer's Investment report." Per the referenced code provisions, a Treasurer's Investment Report is made available to the City Council quarterly. Treasurer's Investment Report The report provides an update on the City's investment portfolio for the month ending June 30, 2026. The report is as of July 23, 2026. The attached statements include balances and transactions of the City's investments with the Local Agency Investment Fund (LAIF) and Chandler Asset Management. The 2 Chandler investment report provides information on the investment type, issuer, purchase date, maturity date, cost value, par value, and market value for each security, as well as the weighted average maturity and weighted average yield of all investments. While not governed by the City's Investment Policy, statements for the Public Agency Retirement Services (PARS) Section 115 Trusts are also attached per a request from the Treasurer's Report subcommittee. The City's General Ledger cash and investments balance is $331.3 million, a $14.0 million increase from the prior quarter. Cash and Investments – General Ledger Balance Fund Type General Fund Special Revenue Debt Service Capital Projects Enterprise Internal Service Total $317,362,114 $331,331,772 The City pools cash for all funds except restricted funds. However, the City accounts for interest earnings, revenues, and expenditures separately for each fund to adequately meet the purpose and restrictions of each funding source. Pooling funds is a common and appropriate practice used in public agencies. By pooling funds, the City can benefit from economies of scale, diversification, liquidity, and ease of administration. The table below shows the bank balances for the City's cash and investments. Bank and General Ledger balances differ due to timing. Bank balances do not include outstanding checks and deposits in transit. The General Ledger is updated quarterly with interest earnings and annually with the year-end investment market values. 3 Cash and Investments – Bank Balance Quarter Ending March 31, 2026 Quarter Ending June 30, 2026 % of Portfolio Cash in banks and on hand Operating Checking (Wells Fargo) 11,912,804 5,345,420 2% 34,369 14,961 0% Payroll Checking (Wells Fargo) - - 0% 1 - - 0% Cash Equivalents Local Agency Investment Fund 73,980,261 74,905,307 23% CalFIT 14,468,801 4% Investments Investments (Chandler) 205,686,359 207,356,231 63% Restricted for Pension2 (PARS) 25,892,783 28,499,534 9% Total Cash and Investments3 $317,506,576 $330,590,255 100% 1 Cash held by fiscal agent for bond repayments 2 In accordance with GASB 67/68, the assets in the Section 115 Pension Trust are reported as restricted cash and investments in the General Fund. The assets can only be used to fund CalPERS costs. 3 Assets in the Section 115 OPEB Trust are excluded as the City cannot use these assets to fund its own operations. The assets are held in trust for retirees' post-employment health benefits. 4 Beginning December 31, 2024, Investment amount reflect cost value. Wells Fargo Accounts The City, in collaboration with Chandler and Wells Fargo's relationship manager, continues to evaluate options to maximize investment opportunities for excess funds held in the City's operating account. As previously reported, the operating account was converted to a "Government Advantage Checking" account, which offers full FDIC insurance and an interest rate of 3% through March 31, 2025. As of the end of the June 2026 quarter, there the interest rate changed to 3.25%. To support the effective deployment of funds and minimize idle cash balances, the City has developed an internal cash flow model that projects monthly cash inflows and outflows. This model enables the City to maintain a lower balance in its operating account while still meeting operational needs. The model also incorporates expected seasonal fluctuations in major revenue sources (e.g., property and sales tax) and expenditure patterns (e.g., CalPERS UAL and insurance obligations). To maintain daily liquidity, the City utilizes the Local Agency Investment Fund (LAIF) and CalFIT as a buffer for short-term needs. The combination of the Government Advantage Checking account, LAIF, and CalFIT, along with the City's investment portfolio, provides a diversified and flexible approach to managing public funds in alignment with the City’s Investment Policy objectives of safety, liquidity, and return. 4 Staff will continue refining the cash flow model and evaluating investment options to enhance returns while prioritizing that adequate liquidity is preserved for City operations. Local Agency Investment Fund (LAIF) LAIF is an investment pool administered by the State of California Treasurer and governed by California Government Code. The City can withdraw funds from LAIF at any time. As a result, the City uses LAIF for short-term investment, liquidity, and yield. The City's LAIF account had a balance of $74.9 million. The quarterly interest rate was 3.92%. CalFIT CalFIT is a local government investment program managed by Chandler Asset Management, Inc. that provides public agencies with same-day liquidity while offering competitive short-term investment yields. Similar to the Local Agency Investment Fund (LAIF), CALFit invests in a diversified portfolio of high-quality, short-term securities designed to preserve principal and maintain liquidity. The City established a CALFit account during the quarter to further diversify its short- term investment options and enhance liquidity management. As staff continues refining the City's cash flow model, excess operating cash can be strategically allocated among the Government Advantage Checking account, LAIF, CALFit, and the City's longer-term investment portfolio based on anticipated cash needs and relative investment yields. This approach reduces idle cash balances while maintaining sufficient liquidity to meet the City's operational and seasonal cash flow requirements. Investment Portfolio In FY 2018-19, the City conducted a Request for Proposal (RFP) for investment management services and selected Chandler Asset Management. Under the City's Treasurer's direction, Chandler Asset Management manages the City's investment portfolio in accordance with the City's investment objectives. The City's investment objectives, in order of priority, are to provide: • Safety to ensure the preservation of capital in the overall portfolio • Sufficient liquidity for cash needs • A market rate of return consistent with the investment program The performance objective is to earn a total rate of return through a market cycle equal to or above the return on the benchmark index. Chandler Asset Management invests in high- quality fixed-income securities consistent with the City's Investment Policy and California Government Code to achieve the objective. 5 The portfolio's total market value was $208.6 million, compared to $207.8 million at the end of the previous quarter. The portfolio's market value fluctuates depending on interest rates. When interest rates decrease after an investment is purchased, the market value of the investment increases. In contrast, when interest rates increase after an investment is purchased, the market value of the investment decreases. At the time of purchase, the City intends to hold all investments until maturity, meaning that changes in market value will not impact the City's investment principal. If the market value decreases, the City will incur an unrealized loss. However, the loss will only be realized if the City sells its investments before their maturity. The market values for the portfolio were provided by Chandler Asset Management. Section 115 Trust Investment Portfolio The City established Section 115 Trusts to reduce pension rate volatility and pre-fund Other Post-Employment Benefits (OPEB) costs. These trusts are a tax-exempt investment tool that local governments can use to set aside funds for pension and retiree health costs. Contributions made to the trust can only be used to fund retirement plans. Investments in the Section 115 Trusts are governed by separate investment policies, which are distinct from the City's Investment Policy. On May 19, 2026, City Council approved the Pension Trust Investment Policy and OPEB Trust Investment Policy. Public Agency Retirement Services (PARS) administers the trust, while US Bank acts as custodian, PFM manages the investments in accordance with the approved investment policies. Both Section 115 Trusts are invested in "balanced" portfolios. The investment objective is designed to provide a moderate amount of current income with moderate growth of capital. This type of investment strategy is generally recommended for investors with a long-term horizon. The Section 115 Pension Trust had a balance of $28.5 million, an increase of $2.6 million from the prior quarter due to investment gains. The Section 115 OPEB Trust had a balance of $50.1 million, an increase of $4.5 million from the prior quarter mainly due to investment gains. The quarterly investment return for OPEB Trust was 10.05% and Pension Trust was 10.16%. Compliance All of the City's investments comply with state law and the City's Investment Policy. In compliance with California Government Code 53646 (b)(3), the City maintains the ability to meet its expenditure requirements for the next six months. Sustainability Impact No sustainability impact. Fiscal Impact No fiscal impact. 6 City Work Program Item/Description None City Council Goal Fiscal Strategy California Environmental Quality Act Not applicable. _____________________________________ Prepared by: __________________ Jonathan Orozco Finance Director Approved for Submission by: __________________ Tina Kapoor City Manager Attachments: A – Chandler Investment Report June 2026 B – Chandler Custodial Statement June 2026 C – PARS Pension and OPEB Account Statement June 2026 D – LAIF Account Statement June 2026 F – CalFIT Statement June 2026 INVESTMENT REPORT City of Cupertino | As of June 30, 2026 CHANDLER ASSET MANAGEMENT | chandlerasset.com Chandler Team: For questions about your account, please call (800) 317-4747, or contact clientservice@chandlerasset.com Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement. TABLE OF CONTENTS ECONOMIC UPDATE ACCOUNT PROFILE CONSOLIDATED INFORMATION PORTFOLIO HOLDINGS TRANSACTIONS 1 ECONOMIC UPDATE 2 ▪ ▪ ▪ Energy prices and inflation remained the primary drivers of the macro backdrop as the U.S.-Israel-Iran conflict entered its third month, disrupting global oil supply. Headline CPI accelerated at the fastest pace in more than three years, reflecting volatility in the energy component. Crude oil, however, retraced roughly 20%from its May–early June peak as diplomatic progress between the United States and Iran pointed to a potential framework for de-escalation. The labor market remained resilient, with continued payroll growth and subdued jobless claims. Risk assets held firm,as equities hovered near record highs and credit spreads remained historically tight amid broadly better-than-expected corporate earnings. Taken together, the current market environment has further constrained the case for near-term monetary policy easing, leading the Chandler team to push out its expected timing for rate cuts beyond the six-month investment horizon. The Federal Reserve’s June FOMC meeting ended with policymakers unanimously holding the target range at 3.50%–3.75%,a notable shift from the 8–4 split at April’s meeting, which marked Jerome Powell’s final session as Chair. Under new Chair Kevin Warsh, sworn in on May 22,the Committee released an unusually concise statement that referenced Middle East tensions and energy supply disruptions while removing prior forward guidance that had suggested a bias toward rate cuts. Updated projections leaned more hawkish, with 9 of 18 officials expecting at least one rate hike this year and 6 anticipating multiple increases. The shift signals that restoring price stability has reemerged as the central focus of monetary policy deliberations. The Treasury yield curve flattened modestly in June as short-term yields responded to a more hawkish shift in Federal Reserve guidance. The 2-year yield rose to 4.15% from 3.98% the prior month, while the 10-year yield edged down slightly to 4.44% from 4.45%.As a result, the 2s/10s spread narrowed to 29 basis points, down from roughly 47 basis points a month earlier and significantly below the 69 basis point spread at the start of the year. Meanwhile, the 3-month/10-year spread remained positive at 64 basis points. Front-end rates absorbed the bulk of the Fed’s updated rate outlook, while longer maturities were partly anchored by a late-month decline in oil prices. ECONOMIC UPDATE 3 -400 -200 0 200 400 600 800 1,000 MO M C h a n g e I n T h o u s a n d s ( 0 0 0 ' s ) Nonfarm Payroll (000's) Non-farm Payroll (000's) 3-month average (000's) 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% Unemployment Rate Underemployment Rate (U6) Unemployment Rate (U3) Ra t e ( % ) Nonfarm payrolls increased by just 57,000 in June, well below the 113,000 consensus and marking a sharp slowdown from May’s pace. The unemployment rate edged down to 4.2%, though the decline was driven by a drop in labor force participation to 61.5%, its lowest level since March 2021.Revisions further weakened the report’s signal. April payrolls were revised down by 31,000 to 148,000, while May was lowered by 43,000 to 129,000, resulting in a combined two-month downward revision of 74,000. Source: US Department of Labor Source: US Department of Labor EMPLOYMENT 4 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Job Openings Recession Historical Average In T h o u s a n d s ( 0 0 0 ' s ) Job openings were essentially unchanged at 7.6 million in May, remaining elevated by historical standards even as hiring momentum moderates. Gains in wholesale trade and accommodation and food services were offset by declines in health care and social assistance,as well as finance and insurance. April openings were revised down by 33,000 to 7.6 million, while hires were revised up by 99,000, highlighting ongoing churn but a broadly stable labor market backdrop. Source: US Department of Labor JOB OPENINGS & LABOR TURNOVER SURVEY 5 Source: Bloomberg Indices Source: Bloomberg Indices ENERGY MARKETS Crude oil prices declined sharply in June as supply disruptions tied to the Middle East conflict began to ease. Tanker traffic through the Strait of Hormuz normalized, and signs of progress in U.S.–Iran negotiations helped unwind the geopolitical risk premium that had driven prices higher earlier in the year. West Texas Intermediate settled near $69.37 per barrel on June 30,while Brent crude closed around $72.96, both well below their recent peaks.Brent’s 21%monthly decline marked its steepest drop since March 2020,while WTI fell more than 20%, its largest monthly loss since late 2021.Beyond crude, broader energy markets also softened. Refined product cracks narrowed as gasoline and diesel demand showed signs of seasonal moderation, while U.S. natural gas prices remained range-bound amid ample storage and steady production. Taken together, the retracement in oil and broader energy prices reflects a rapid compression in geopolitical risk premia and improved near-term supply visibility, even as underlying structural risks in the region remain unresolved. 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 6.00 6.50 US Fuel Prices Average Retail Price US Diesel Average Retail Price US Gas ($ ) Pe r G a l l o n 40 60 80 100 120 140 160 Oil Prices West Texas Intermediate (WTI Spot Cushing) Dated Brent (Global Spot) Pr i c e Pe r B a r r e l ( W T I S p o t ) 6 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% Personal Consumption Expenditures (PCE) PCE Price Deflator YOY % Change PCE Core Deflator YOY % Change Fed Target YO Y ( % ) C h a n g e 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% Consumer Price Index (CPI) CPI YOY % Change Core CPI YOY % Change YO Y ( % ) C h a n g e Inflation firmed in May, with the Personal Consumption Expenditures (PCE) price index rising 0.4%on the month and 4.1% year over year, up from 3.8%in April and marking the highest annual rate of the current cycle. Core PCE, which excludes food and energy, increased 0.3% in May and 3.4% over the year. Energy prices remained the primary driver of the headline acceleration, reflecting supply disruptions tied to the Iranian conflict. A similar pattern was evident in the headline Consumer Price Index (CPI), which rose 0.5%on the month and 4.2% year over year, the fastest annual pace since 2023.Energy prices climbed 3.9%in May and 23.5% from a year earlier, largely due to crude oil reaching a four-year high.In contrast, core CPI rose a more modest 0.2%on the month and 2.9% year over year, indicating that inflation pressures remain concentrated in energy rather than broad-based. Source: US Department of Labor Source: US Department of Commerce INFLATION 7 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Retail Sales YOY % Change YO Y ( % ) C h a n g e Retail sales rose a robust 0.9%in May to $763.7 billion, nearly double the pace economists had penciled in and an acceleration from April's downwardly revised 0.4% gain. The closely watched control group, which feeds directly into gross domestic product calculations, advanced 0.7%, pointing to durable underlying demand. Gasoline station receipts rose as energy prices stayed high, while auto sales rebounded after an April pullback. The Conference Board's Consumer Confidence Index ticked up 0.6 points to 91.2 in June, though the improvement masked a further deterioration in how households view the job market, with the share calling jobs ‘hard-to-get’climbing to a five year high. Spending has proven more resilient than sentiment across recent months. 0 20 40 60 80 100 120 140 160 In d e x L e v e l Consumer Confidence Recession Source: US Department of Commerce Source: The Conference Board All time high is 144.70 (1/31/00); All time low is 25.30 (2/28/09) CONSUMER 8 -25.0% -20.0% -15.0% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% Leading Economic Indicators (LEI) Recession YO Y (% ) C h a n g e -1.00 -0.75 -0.50 -0.25 0.00 0.25 0.50 0.75 1.00 Chicago Fed National Activity Index (CFNAI) Recession 3 M o n t h A v e r a g e The Conference Board’s Leading Economic Index (LEI) edged up 0.1%in May to 99.3, following a revised 0.2% increase in April. Despite the monthly gains, the LEI’s six- and twelve-month growth rates remained negative at -0.6% and -1.5%, respectively. The advance was driven primarily by financial components, including equity prices and the interest rate spread, while consumer expectations continued to weigh on the index. The Chicago Fed National Activity Index fell to -0.10 in May from an upwardly revised 0.19 in April. Production-related and employment-related indicators each subtracted from the index, while the sales, orders, and inventories category made a small positive contribution. Source: The Conference Board Source: Federal Reserve Bank of Chicago LEADING INDICATORS OF ECONOMIC ACTIVITY 9 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2,200 2,400 In T h o u s a n d s o f U n i t s Annualized Housing Starts Multi Family Housing Starts Single Family Housing Starts Housing starts declined sharply in May to a seasonally adjusted annual rate of 1,177,000, a 15.4% drop from a downwardly revised 1,392,000 in April. The pullback was driven primarily by multifamily construction, while single-family starts edged down a more modest 1.9%to 882,000; total multifamily starts came in at 295,000 units. The S&P CoreLogic Case-Shiller 20-City Composite rose 1.1% year over year in April, marking its first pickup since November 2025,following an upwardly revised 0.9% gain in March. Freddie Mac’s average 30- year fixed mortgage rate increased to 6.44% in May from 6.33% in April, reinforcing ongoing affordability constraints for prospective buyers. Source: US Department of Commerce Source: S&P -20.0% -16.0% -12.0% -8.0% -4.0% 0.0% 4.0% 8.0% 12.0% 16.0% 20.0% 24.0% S&P/Case-Shiller 20 City Composite Home Price Index Recession YO Y ( % ) C h a n g e HOUSING 10 40 45 50 55 60 65 70 Institute of Supply Management (ISM) Surveys ISM Manufacturing ISM Services EXPANDING CONTRACTING Manufacturing activity cooled slightly in June, with the Institute for Supply Management's Manufacturing Index easing to 53.3%, down 0.7 percentage point from May but still marking a sixth consecutive month of expansion. Services activity also moderated,as the ISM Services Index eased to 54.0% from 54.5%, a twenty-fourth consecutive month in expansion territory. Business activity and new orders both slowed, though the employment component jumped to 51.2% from 47.9%, its strongest reading since late 2021 and the first expansion in services hiring in four months. Source: Institute for Supply Management PURCHASING MANAGERS INDEX (PMI) 11 Components of GDP 6/25 9/25 12/25 3/26 1.7% 2.3% 1.3% 0.4% -2.7% 0.0% 0.4% 1.4% 4.8% 1.6% -0.2% -0.4% -0.4% 0.2% -1.2% 0.6% 0.3% 0.2% 0.2% 0.2% 3.8% 4.4% 0.5% 2.1% Personal Consumption Expenditures Gross Private Domestic Investment Net Exports and Imports Federal Government Expenditures Total State and Local (Consumption and Gross Investment)-2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% Gross Domestic Product (GDP) GDP QOQ % Change GDP YOY % Change Source: US Department of Commerce Source: US Department of Commerce Real gross domestic product increased at an annualized rate of 2.1%in the first quarter of 2026,according to the Bureau of Economic Analysis’third estimate,up from 1.6%in the prior estimate and an acceleration from 0.5%in the fourth quarter of 2025.The 0.5 percentage point upward revision was driven primarily by a downward revision to imports—which subtract from GDP—partly offset by a downward revision to consumer spending. GROSS DOMESTIC PRODUCT (GDP) 12 Source: Federal Reserve Source: Bloomberg 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 9,000,000 10,000,000 Federal Reserve Balance Sheet Assets Recession In $ m i l l i o n s The Federal Open Market Committee (FOMC) held the target range for the federal funds rate at 3.50%to 3.75%at its June 16–17 meeting, with a unanimous 12–0 vote. This marked a notable shift from the April meeting—Jerome Powell’s last as chair—which saw four dissents in an 8–4 decision. The return to consensus under Chair Kevin Warsh signals a clear change in tone. Minutes from the June meeting are scheduled for release in early July. The June Summary of Economic Projections reflected a more hawkish outlook. The median projection for the federal funds rate at year-end 2026 rose to 3.8%,up from 3.4%in March, before easing to 3.6%in 2027 and 3.4%in 2028.Officials also revised their inflation forecasts, with headline PCE projected at 3.6%in 2026 (from 2.7%) and core PCE at 3.3%.By contrast, median projections for real GDP growth and the unemployment rate—2.2% and 4.3%, respectively—were little changed. FEDERAL RESERVE 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% Effective Federal Funds Rate Recession Yi e l d ( % ) 13 Source: Bloomberg Source: Bloomberg 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% US Treasury Note Yields 2-Year 5-Year 10-Year Yi e l d ( % ) 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% US Treasury Yield Curve Jun-26 Mar-26 Jun-25 Yi e l d ( % ) Treasury yields ended June mixed, with a modest flattening across the curve as markets digested a more hawkish Federal Reserve signal. The 2-year yield rose to 4.15% from 3.98%at the end of May, while the 10-year yield edged down to 4.44% from 4.45%. The 2s/10s spread narrowed to 29 basis points, down from 47 basis points a month earlier. The 3-month/10-year spread remained positive at roughly 64 basis points at month-end. Relative to the 69 basis point spread at the start of 2026,the curve has flattened materially year to date, reflecting a repricing higher in front-end rates as expectations shift toward the possibility of further Fed tightening rather than easing. BOND YIELDS 14 ACCOUNT PROFILE 15 OBJECTIVES Investment Objectives The City of Cupertino's investment objectives, in order of priority, are to provide safety to ensure the preservation of capital in the overall portfolio, provide sufficient liquidity for cash needs and a market rate of return consistent with the investment program. Chandler Asset Management Performance Objective The performance objective for the portfolio is to earn a total rate of return through a market cycle that is equal to or above the return on the benchmark index. Strategy In order to achieve these objectives, the portfolio invests in high quality fixed incomes securities consistent with the investment policy and California Government Code. 16 STATEMENT OF COMPLIANCE City of Cupertino | Account #10659 | As of June 30, 2026 Rules Name Limit Actual Compliance Status Notes AGENCY MORTGAGE SECURITIES Max % (MV)100.0 11.6 Compliant Max % Issuer (MV; Agencies & Agency CMOs)25.0 11.6 Compliant Max Maturity (Years)5.0 4.6 Compliant ASSET-BACKED SECURITIES (ABS) Max % (MV; Non Agency ABS & MBS)20.0 7.8 Compliant Max % Issuer (MV)5.0 1.6 Compliant Max Maturity (Years)5 4 Compliant Min Rating (AA- by 1)0.0 0.0 Compliant BANKERS' ACCEPTANCES Max % (MV)40.0 0.0 Compliant Max % Issuer (MV)5.0 0.0 Compliant Max Maturity (Days)180 0.0 Compliant Min Rating (A-1 by 1 or A- by 1)0.0 0.0 Compliant CERTIFICATE OF DEPOSIT PLACEMENT SERVICE (CDARS) Max % (MV)30.0 0.0 Compliant Max % Issuer (MV)5.0 0.0 Compliant Max Maturity (Years)5.0 0.0 Compliant COLLATERALIZED TIME DEPOSITS (NON- NEGOTIABLE CD/TD) Max % (MV; FDIC & Collateralized CD/TD)30.0 0.0 Compliant Max % Issuer (MV)5.0 0.0 Compliant Max Maturity (Years)5.0 0.0 Compliant COMMERCIAL PAPER Max % (MV)25.0 0.0 Compliant Max % Issuer (MV)5.0 0.0 Compliant Max Maturity (Days)270 0.0 Compliant Min Rating (A-1 by 1 or A- by 1)0.0 0.0 Compliant CORPORATE MEDIUM TERM NOTES 17 STATEMENT OF COMPLIANCE City of Cupertino | Account #10659 | As of June 30, 2026 Rules Name Limit Actual Compliance Status Notes Max % (MV)30.0 27.0 Compliant Max % Issuer (MV)5.0 1.3 Compliant Max Maturity (Years)5 4 Compliant Min Rating (A- by 1)0.0 0.0 Compliant FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE CD/TD) Max % (MV; FDIC & Collateralized CD/TD)30.0 0.0 Compliant Max % Issuer (MV)5.0 0.0 Compliant Max Maturity (Years)5 0.0 Compliant FEDERAL AGENCIES Max % (MV)100.0 3.4 Compliant Max % Issuer (MV; Agencies & Agency CMOs)25.0 11.6 Compliant Max Callables (MV)20.0 0.0 Compliant Max Maturity (Years)5 1 Compliant LOCAL AGENCY INVESTMENT FUND (LAIF) Max Concentration (MV)75.0 0.0 Compliant MONEY MARKET MUTUAL FUNDS Max % (MV)20.0 0.2 Compliant Min Rating (AAA by 2)0.0 0.0 Compliant MORTGAGE-BACKED SECURITIES (NON-AGENCY) Max % (MV)20.0 0.0 Compliant Max % Issuer (MV)5.0 0.0 Compliant Max Maturity (Years)5.0 0.0 Compliant Min Rating (AA- by 1)0.0 0.0 Compliant MUNICIPAL SECURITIES (CA, LOCAL AGENCY) Max % (MV)30.0 0.9 Compliant Max % Issuer (MV)5.0 0.9 Compliant Max Maturity (Years)5 3 Compliant Min Rating (A- by 1)0.0 0.0 Compliant MUNICIPAL SECURITIES (CA, OTHER STATES) 18 STATEMENT OF COMPLIANCE City of Cupertino | Account #10659 | As of June 30, 2026 Rules Name Limit Actual Compliance Status Notes Max % (MV)30.0 0.0 Compliant Max % Issuer (MV)5.0 0.0 Compliant Max Maturity (Years)5 0.0 Compliant Min Rating (A- by 1)0.0 0.0 Compliant NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD) Max % (MV)30.0 0.0 Compliant Max % Issuer (MV)5.0 0.0 Compliant Max Maturity (Years)5 0.0 Compliant Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit)0.0 0.0 Compliant REPURCHASE AGREEMENTS Max % (MV)10.0 0.0 Compliant Max % Issuer (MV)5.0 0.0 Compliant Max Maturity (Years)1.0 0.0 Compliant SUPRANATIONAL OBLIGATIONS Max % (MV)30.0 1.7 Compliant Max % Issuer (MV)10.0 1.7 Compliant Max Maturity (Years)5 3 Compliant Min Rating (AA- by 1)0.0 0.0 Compliant U.S. TREASURIES Max % (MV)100.0 47.3 Compliant Max Maturity (Years)5 4 Compliant 19 PORTFOLIO SUMMARY City of Cupertino | Account #10659 | As of June 30, 2026 Portfolio Characteristics Account Summary Top Issuers Average Modified Duration 2.52 Average Coupon 3.82% Average Purchase YTM 4.11% Average Market YTM 4.31% Average Credit Quality*AA+ Average Final Maturity 2.91 Average Life 2.77 End Values as of 03/31/2026 End Values as of 06/30/2026 Market Value 206,386,615.39 206,884,323.76 Accrued Interest 1,408,186.33 1,712,686.71 Total Market Value 207,794,801.72 208,597,010.47 Income Earned 2,049,095.66 2,104,316.42 Cont/WD 0.00 0.00 Par 207,849,407.81 209,750,558.47 Book Value 206,277,628.74 208,055,759.90 Cost Value 205,686,359.19 207,356,230.92 United States 47.26% Federal Home Loan Mortgage Corp 11.70% Farm Credit System 2.53% International Bank for Recon and Dev 1.66% Chase Issuance Trust 1.59% Guardian Life Global Funding 1.29% The Home Depot, Inc.1.26% Toyota Motor Corporation 1.22% Sector Allocation Maturity Distribution Credit Quality* Performance Review Total Rate of Return**1M 3M YTD 1YR 2YRS 3YRS 5YRS 10YRS Since Inception (02/01/19) City of Cupertino 0.08%0.41%0.67%3.09%4.63%4.71%1.89%--2.33% Benchmark Return 0.06%0.24%0.43%2.71%4.12%4.25%1.54%--2.06% *The average credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. **Periods over 1 year are annualized. Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index 20 PORTFOLIO CHARACTERISTICS City of Cupertino | Account #10659 | As of June 30, 2026 Benchmark*6/30/2026 Portfolio 3/31/2026 Portfolio Average Maturity (yrs)2.64 2.91 2.96 Average Modified Duration 2.46 2.52 2.56 Average Purchase Yield 4.11%4.01% Average Market Yield 4.16%4.31%4.04% Average Quality**AA+AA+AA+ Total Market Value 208,597,010 207,794,802 *Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index **The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 21 SECTOR DISTRIBUTION City of Cupertino | Account #10659 | As of June 30, 2026 Sector as a Percentage of Market Value Sector 06/30/2026 03/31/2026 US Treasury 47.26%44.82% Corporate 26.95%28.58% Agency CMBS 11.70%11.42% ABS 7.90%7.43% Agency 3.44%3.47% Supras 1.66%2.87% Muni Bonds 0.84%0.86% Money Mkt Fd 0.22%0.53% 22 DURATION ALLOCATION City of Cupertino | Account #10659 | As of June 30, 2026 0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+ 06/30/2026 1.2%3.2%10.7%16.3%28.4%33.3%6.9%0.0%0.0% 23 ISSUERS City of Cupertino | Account #10659 | As of June 30, 2026 Issuer Investment Type % Portfolio United States US Treasury 47.26% Federal Home Loan Mortgage Corp Agency CMBS 11.70% Farm Credit System Agency 2.53% International Bank for Recon and Dev Supras 1.66% Chase Issuance Trust ABS 1.59% Guardian Life Global Funding Corporate 1.29% The Home Depot, Inc.Corporate 1.26% Toyota Motor Corporation Corporate 1.22% Meta Platforms, Inc.Corporate 1.15% New York Life Insurance Company Corporate 1.15% Deere & Company Corporate 0.98% Northwestern Mutual Global Funding Corporate 0.97% UnitedHealth Group Incorporated Corporate 0.92% Federal Home Loan Banks Agency 0.91% Simon Property Group, Inc.Corporate 0.90% Mastercard Incorporated Corporate 0.85% Chubb Limited Corporate 0.85% State of California Muni Bonds 0.84% Caterpillar Inc.Corporate 0.84% American Honda Finance Corporation Corporate 0.84% Prudential Financial, Inc.Corporate 0.83% The Goldman Sachs Group, Inc.Corporate 0.81% Bank of America Credit Card Trust ABS 0.79% Mercedes-Benz Auto Lease Trust ABS 0.78% Berkshire Hathaway Inc.Corporate 0.77% PepsiCo, Inc.Corporate 0.73% Citigroup Inc.ABS 0.72% Prologis, Inc.Corporate 0.72% Bank of America Corporation Corporate 0.72% JPMorgan Chase & Co.Corporate 0.72% 24 ISSUERS City of Cupertino | Account #10659 | As of June 30, 2026 Issuer Investment Type % Portfolio The Progressive Corporation Corporate 0.72% Alphabet Inc.Corporate 0.71% Morgan Stanley Corporate 0.70% Realty Income Corporation Corporate 0.69% American Express Credit Master Trust ABS 0.69% Marsh & McLennan Companies, Inc.Corporate 0.68% WF Card Issuance Trust ABS 0.66% Salesforce, Inc.Corporate 0.65% Visa Inc.Corporate 0.64% Met Tower Global Funding Corporate 0.62% Toyota Auto Receivables Owner Trust ABS 0.57% Hyundai Motor Company Corporate 0.53% Cargill, Incorporated Corporate 0.52% NVIDIA Corporation Corporate 0.51% BMW Vehicle Lease Trust ABS 0.51% Nat Rural Util Coop Fin Corp Corporate 0.49% Massachusetts Mutual Life Insurance Corporate 0.48% Pacific Life Global Funding II Corporate 0.48% Hyundai Auto Lease Sec Trust ABS 0.37% Honda Auto Receivables Owner Trust ABS 0.32% GM Financial Securitized Term ABS 0.32% Wells Fargo & Company Money Mkt Fd 0.22% Mercedes-Benz Auto Receivables Trust ABS 0.21% BMW Vehicle Owner Trust ABS 0.21% John Deere Owner Trust ABS 0.16% WC MMF Sweep Cash 0.03% Cash Cash 0.00% TOTAL 100.00% 25 QUALITY DISTRIBUTION City of Cupertino | Account #10659 | As of June 30, 2026 S&P Rating Moody’s Rating Fitch Rating Rating 06/30/2026 03/31/2026 AAA 10.50%11.34% AA 69.91%65.98% A 15.59%17.45% BBB 1.33%1.34% A-1+--0.95% NA 2.66%2.94% Rating 06/30/2026 03/31/2026 Aaa 6.07%7.57% Aa 72.47%69.14% A 16.57%17.86% P-1 --0.95% NA 4.89%4.47% Rating 06/30/2026 03/31/2026 AAA 16.03%15.60% AA 59.66%58.14% A 11.31%10.20% F1+--0.95% NA 12.99%15.11% 26 DURATION DISTRIBUTION City of Cupertino | Account #10659 | As of June 30, 2026 Portfolio Compared to the Benchmark 0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+ Portfolio 1.2%3.2%10.7%16.3%28.4%33.3%6.9%0.0%0.0% ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index 0.0%0.0%2.5%36.2%28.4%20.6%12.3%0.0%0.0% 27 INVESTMENT PERFORMANCE City of Cupertino | Account #10659 | As of June 30, 2026 Total and Realized Rate of Return : Inception | 02/01/2019 3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception TOTAL RATE OF RETURN* City of Cupertino Gross of Fees 0.41%3.09%4.63%4.71%1.89%2.33% City of Cupertino Net of Fees 0.39%3.02%4.56%4.65%1.83%2.26% Benchmark 0.24%2.71%4.12%4.25%1.54%2.06% REALIZED RATE OF RETURN City of Cupertino 1.02%3.94%3.48% *Periods over 1 year are annualized. Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending market value; it includes interest earnings, realized and unrealized gains and losses in the portfolio. Realized rate of return: A measure of a portfolio’s return over time. It is the internal rate which equates the beginning book value of the portfolio with the ending book value; it includes interest earnings, realized gains and losses in the portfolio. Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index 28 PORTFOLIO CHARACTERISTICS City of Cupertino Reporting | Account #10663 | As of June 30, 2026 6/30/2026 Portfolio 3/31/2026 Portfolio Average Maturity (yrs)0.00 0.00 Average Modified Duration 0.00 0.00 Average Purchase Yield 3.77%3.29% Average Market Yield 3.77%3.29% Average Quality**AAA AAA Total Market Value 95,445,962 86,638,115 *Benchmark: NO BENCHMARK REQUIRED **The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 29 SECTOR DISTRIBUTION City of Cupertino Reporting | Account #10663 | As of June 30, 2026 Sector as a Percentage of Market Value Sector 06/30/2026 03/31/2026 LAIF 78.48%85.39% LGIP 15.16%-- Cash 6.36%14.61% 30 CONSOLIDATED INFORMATION 31 PORTFOLIO CHARACTERISTICS City of Cupertino Cons | Account #10664 | As of June 30, 2026 6/30/2026 Portfolio 3/31/2026 Portfolio Average Maturity (yrs)1.99 2.09 Average Modified Duration 1.72 1.81 Average Purchase Yield 4.00%3.80% Average Market Yield 4.14%3.82% Average Quality**AA+AA+ Total Market Value 304,042,972 294,432,916 *Benchmark: NO BENCHMARK REQUIRED **The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 32 SECTOR DISTRIBUTION City of Cupertino Cons | Account #10664 | As of June 30, 2026 Sector as a Percentage of Market Value Sector 06/30/2026 03/31/2026 US Treasury 32.34%31.57% LAIF 24.78%25.25% Corporate 18.44%20.13% Agency CMBS 8.01%8.05% ABS 5.40%5.23% LGIP 4.79%-- Agency 2.35%2.44% Cash 2.03%4.34% Supras 1.13%2.02% Muni Bonds 0.58%0.60% Money Mkt Fd 0.15%0.37% 33 PORTFOLIO HOLDINGS 34 HOLDINGS REPORT City of Cupertino | Account #10659 | As of June 30, 2026 Cusip Security Description Par Value/ Units Purchase Date Purchase Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody's/ S&P/ Fitch Maturity Duration ABS 44934FAD7 HALST 2024-B A3 5.41 05/17/2027 135,797.59 05/14/2024 5.41% 135,793.82 135,796.49 100.11 3.96% 135,952.13 326.52 0.07% 155.65 NA/AAA AAA 0.88 0.08 89231FAD2 TAOT 2023-C A3 5.16 04/17/2028 427,019.00 11/21/2023 5.65% 425,284.24 426,310.41 100.30 4.31% 428,311.59 979.30 0.21% 2,001.18 NA/AAA AAA 1.80 0.34 438123AC5 HAROT 2023-4 A3 5.67 06/21/2028 331,773.72 -- 5.64% 332,594.98 332,036.30 100.62 4.34% 333,814.13 522.54 0.16% 1,777.83 Aaa/NA AAA 1.98 0.42 05594HAD5 BMWLT 2025-2 A3 3.97 09/25/2028 1,050,000.00 10/08/2025 4.32% 1,049,997.06 1,049,997.77 99.67 4.34% 1,046,585.40 694.75 0.51% (3,412.37) NA/AAA AAA 2.24 0.97 58769FAC9 MBART 2023-2 A3 5.95 11/15/2028 433,673.99 11/29/2023 3.88% 442,855.68 436,862.80 100.76 4.41% 436,959.51 1,146.83 0.21% 96.71 NA/AAA AAA 2.38 0.47 47800RAD5 JDOT 2024 A3 4.96 11/15/2028 331,331.05 03/25/2024 5.13% 331,175.74 331,251.47 100.37 4.44% 332,565.92 730.40 0.16% 1,314.45 Aaa/NA AAA 2.38 0.65 05522RDH8 BACCT 2023-2 A 4.98 11/16/2026 850,000.00 01/24/2024 4.58% 858,798.83 851,184.55 100.32 4.15% 852,717.45 1,881.33 0.41% 1,532.90 Aaa/NA AAA 0.38 0.36 437930AC4 HAROT 2024-2 A3 5.27 11/20/2028 332,043.31 05/14/2024 5.27% 332,002.97 332,021.89 100.54 4.37% 333,843.98 631.90 0.16% 1,822.09 NA/AAA AAA 2.39 0.56 448970AD5 HALST 2026-A A3 3.97 12/15/2028 635,000.00 01/12/2026 3.98% 634,906.91 634,921.06 99.32 4.46% 630,713.12 1,120.42 0.30% (4,207.95) NA/AAA AAA 2.46 1.49 36268GAD7 GMCAR 2024-1 A3 4.85 12/18/2028 651,739.89 -- 4.97% 650,706.39 651,189.97 100.28 4.28% 653,541.96 1,317.06 0.32% 2,351.99 Aaa/NA AAA 2.47 0.45 161571HV9 CHAIT 241 A 4.6 01/16/2029 1,690,000.00 01/24/2024 4.61% 1,689,742.61 1,689,867.89 100.22 4.22% 1,693,719.69 3,455.11 0.82% 3,851.80 NA/AAA AAA 2.55 0.52 096919AD7 BMWOT 2024-A A3 5.18 02/26/2029 431,494.98 06/04/2024 5.18% 431,429.44 431,458.00 100.51 4.33% 433,679.21 372.52 0.21% 2,221.21 Aaa/AAA NA 2.66 0.56 58770XAD5 MBALT 2025-B A3 3.88 04/16/2029 1,045,000.00 10/16/2025 4.57% 1,044,828.52 1,044,862.49 99.38 4.35% 1,038,494.88 1,802.04 0.50% (6,367.62) NA/AAA AAA 2.79 1.41 05522RDJ4 BACCT 2024-1 A 4.93 05/15/2029 785,000.00 06/06/2024 4.93% 784,955.96 784,974.39 100.65 4.21% 790,067.18 1,720.02 0.38% 5,092.79 Aaa/AAA NA 2.87 0.84 58770YAD3 MBALT 2026-A A3 3.93 01/15/2030 570,000.00 01/13/2026 3.97% 569,886.97 569,899.48 99.21 4.40% 565,515.81 995.60 0.27% (4,383.67) Aaa/NA AAA 3.54 1.78 02582JKP4 AMXCA 2025-2 A 4.28 04/15/2030 1,420,000.00 05/06/2025 4.28% 1,419,974.30 1,419,980.22 99.90 4.38% 1,418,568.64 2,701.16 0.69% (1,411.58) NA/AAA AAA 3.79 1.69 35 HOLDINGS REPORT City of Cupertino | Account #10659 | As of June 30, 2026 Cusip Security Description Par Value/ Units Purchase Date Purchase Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody's/ S&P/ Fitch Maturity Duration 92970QAJ4 WFCIT 2025-1 A 4.34 05/15/2030 1,365,000.00 06/03/2025 4.33% 1,364,977.34 1,364,982.20 100.03 4.36% 1,365,423.15 2,632.93 0.66% 440.95 NA/AAA AAA 3.87 1.76 17305EHA6 CCCIT 2025-A1 A1 4.3 06/21/2030 1,500,000.00 10/09/2025 3.90% 1,515,000.00 1,510,979.70 99.83 4.39% 1,497,465.00 1,791.67 0.72% (13,514.70) Aaa/AAA NA 3.97 1.87 89240QAD7 TAOT 2026-B A3 4.13 12/16/2030 760,000.00 04/14/2026 4.27% 759,839.72 759,846.41 99.42 4.46% 755,567.68 1,395.02 0.37% (4,278.73) Aaa/AAA NA 4.46 1.97 161571JA3 CHAIT 2026-1 A 4.4 05/15/2029 1,595,000.00 05/21/2026 4.45% 1,594,622.62 1,594,634.47 100.06 4.42% 1,596,033.56 6,433.17 0.77% 1,399.09 NA/AAA AAA 2.87 2.63 16,369,374.10 100.00 16,339,539.96 7.90%2.89 Total ABS 16,339,873.54 4.50%16,353,057.94 4.34%32,650.29 (13,517.97)1.29 AGENCY 3130B0TY5 FEDERAL HOME LOAN BANKS 4.75 04/09/2027 1,875,000.00 04/10/2024 4.85% 1,870,050.00 1,873,722.87 100.52 4.06% 1,884,682.50 20,286.46 0.91% 10,959.63 Aa1/AA+ AA+ 0.77 0.75 3133ERDS7 FEDERAL FARM CREDIT BANKS FUNDING CORP 4.75 05/06/2027 2,400,000.00 06/20/2024 4.55% 2,412,552.00 2,403,697.40 100.52 4.11% 2,412,568.80 17,416.67 1.17% 8,871.40 Aa1/AA+ AA+ 0.85 0.82 3133EPC60 FEDERAL FARM CREDIT BANKS FUNDING CORP 4.625 11/15/2027 2,800,000.00 11/09/2023 4.73% 2,789,612.00 2,796,430.68 100.52 4.22% 2,814,672.00 16,547.22 1.36% 18,241.32 Aa1/AA+ AA+ 1.38 1.31 7,072,214.00 100.52 7,111,923.30 3.44%1.04 Total Agency 7,075,000.00 4.70%7,073,850.95 4.14%54,250.35 38,072.35 0.99 AGENCY CMBS 3137BSP72 FHMS K-058 A2 2.653 08/25/2026 537,800.82 11/12/2021 1.36% 568,787.39 538,359.95 99.68 3.63% 536,085.78 1,188.99 0.26% (2,274.18) Aa1/AA+ AAA 0.15 0.15 3137FKUP9 FHMS K-087 A2 3.771 12/25/2028 1,929,399.14 07/01/2024 4.86% 1,845,816.97 1,883,506.82 98.38 4.42% 1,898,102.36 6,063.14 0.92% 14,595.54 Aa1/AAA AA+ 2.49 2.22 3137FL6P4 FHMS K-089 A2 3.563 01/25/2029 1,288,000.00 07/03/2024 4.70% 1,228,178.44 1,254,562.78 97.80 4.43% 1,259,680.74 3,824.29 0.61% 5,117.96 Aa1/AA+ AA+ 2.57 2.37 3137H5YC5 FHMS K-748 A2 2.26 01/25/2029 2,000,000.00 07/03/2024 4.74% 1,801,718.75 1,889,170.83 94.87 4.43% 1,897,338.00 3,766.67 0.92% 8,167.17 Aa1/AA+ AAA 2.57 2.36 3137FKZZ2 FHMS K-088 A2 3.69 01/25/2029 2,550,000.00 07/17/2024 4.50% 2,465,830.08 2,502,576.68 98.12 4.43% 2,502,095.70 7,841.25 1.21% (480.98) Aaa/AA+ AA+ 2.57 2.33 36 HOLDINGS REPORT City of Cupertino | Account #10659 | As of June 30, 2026 Cusip Security Description Par Value/ Units Purchase Date Purchase Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody's/ S&P/ Fitch Maturity Duration 3137FLN91 FHMS K-091 A2 3.505 03/25/2029 2,500,000.00 03/20/2025 4.25% 2,431,738.28 2,453,732.14 97.59 4.43% 2,439,825.00 7,302.08 1.18% (13,907.14) Aa1/AAA AA+ 2.73 2.45 3137FMCR1 FHMS K-093 A2 2.982 05/25/2029 1,957,816.94 09/19/2024 3.82% 1,888,834.48 1,915,318.82 96.24 4.43% 1,884,181.49 4,865.18 0.91% (31,137.33) Aa1/AA+ AAA 2.90 2.54 3137FNAE0 FHMS K-095 A2 2.785 06/25/2029 2,200,000.00 07/17/2024 4.47% 2,039,382.82 2,103,756.09 95.51 4.43% 2,101,156.20 5,105.83 1.02% (2,599.89) Aa1/AA+ AAA 2.99 2.70 3137FPHK4 FHMS K-098 A2 2.425 08/25/2029 1,600,000.00 09/03/2024 4.00% 1,488,375.00 1,529,719.90 94.24 4.43% 1,507,812.80 3,233.33 0.73% (21,907.10) Aa1/AA+ AAA 3.15 2.88 3137FPJG1 FHMS K-099 A2 2.595 09/25/2029 1,500,000.00 06/05/2025 4.21% 1,407,011.72 1,430,258.79 94.58 4.43% 1,418,764.50 3,243.75 0.69% (11,494.29) Aa1/AA+ AAA 3.24 2.94 3137FRUT6 FHMS K-106 A2 2.069 01/25/2030 2,000,000.00 06/06/2025 4.37% 1,810,078.13 1,853,994.00 92.25 4.44% 1,844,956.00 3,448.33 0.89% (9,038.00) Aa1/AA+ AAA 3.57 3.33 3137FTZQ3 FHMS K-110 A2 1.477 04/25/2030 1,500,000.00 09/03/2025 3.96% 1,348,652.34 1,375,542.44 90.04 4.45% 1,350,600.00 1,846.25 0.65% (24,942.44) Aa1/AA+ AAA 3.82 3.48 3137FWG79 FHMS K-115 A2 1.383 06/25/2030 2,000,000.00 12/10/2025 3.99% 1,787,343.75 1,813,191.47 88.98 4.45% 1,779,620.00 2,305.00 0.86% (33,571.47) Aa1/AA+ AAA 3.99 3.75 3137FX3Q9 FHMS K-117 A2 1.406 08/25/2030 1,000,000.00 06/03/2026 4.46% 885,820.31 887,553.73 88.69 4.46% 886,929.00 1,171.67 0.43% (624.73) Aa1/AA+ AAA 4.15 3.88 3137FXZ35 FHMS K-127 A2 2.108 01/25/2031 1,000,000.00 02/03/2026 4.11% 910,937.50 918,152.06 90.37 4.46% 903,728.00 1,756.67 0.44% (14,424.06) Aa1/AA+ AAA 4.57 4.22 23,908,505.97 94.82 24,210,875.56 11.70%3.05 Total Agency CMBS 25,563,016.90 4.26%24,349,396.51 4.42%56,962.42 (138,520.94)2.78 CASH 992995944 WC MMF SWEEP 53,252.50 -- 2.85% 53,252.50 53,252.50 1.00 1.80% 53,252.50 0.00 0.03% 0.00 NA/NA NA 0.00 0.00 CCYUSD Receivable 4,328.15 --4,328.15 4,328.15 1.00 4,328.15 0.00 0.00% 0.00 Aaa/AAA AAA 0.00 0.00 57,580.65 1.00 57,580.65 0.03%0.00 Total Cash 57,580.65 2.85%57,580.65 1.80%0.00 0.00 0.00 CORPORATE 37 HOLDINGS REPORT City of Cupertino | Account #10659 | As of June 30, 2026 Cusip Security Description Par Value/ Units Purchase Date Purchase Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody's/ S&P/ Fitch Maturity Duration 084664CZ2 BERKSHIRE HATHAWAY FINANCE CORP 2.3 03/15/2027 1,615,000.00 03/07/2022 2.30% 1,614,693.15 1,614,956.81 98.68 4.21% 1,593,693.31 10,937.14 0.77% (21,263.51) Aa2/AA A+ 0.71 0.69 79466LAQ7 SALESFORCE INC 4.5 03/15/2028 1,355,000.00 03/12/2026 4.37% 1,358,284.45 1,357,771.25 99.87 4.57% 1,353,289.99 18,292.50 0.65% (4,481.26) A2/A+ NA 1.71 1.60 58989V2M5 MET TOWER GLOBAL FUNDING 4.0 01/14/2029 1,310,000.00 01/07/2026 4.05% 1,308,310.10 1,308,569.14 98.60 4.59% 1,291,705.85 24,307.78 0.62% (16,863.29) Aa3/AA- AA- 2.54 2.34 74340XBL4 PROLOGIS LP 4.375 02/01/2029 1,500,000.00 07/18/2024 4.68% 1,481,235.00 1,489,293.31 99.74 4.48% 1,496,172.00 27,343.75 0.72% 6,878.69 A2/A NA 2.59 2.37 743315AV5 PROGRESSIVE CORP 4.0 03/01/2029 1,500,000.00 07/16/2024 4.72% 1,455,495.00 1,474,319.98 98.97 4.41% 1,484,511.00 20,000.00 0.72% 10,191.02 A2/A A 2.67 2.47 38151LAJ9 GOLDMAN SACHS BANK USA 4.656 06/03/2029 675,000.00 05/27/2026 4.57% 675,000.00 675,000.00 100.06 4.54% 675,417.83 2,444.40 0.33% 417.83 A1/A+ AA- 2.93 1.81 64952WFG3 NEW YORK LIFE GLOBAL FUNDING 5.0 06/06/2029 1,000,000.00 07/01/2024 5.12% 994,880.00 996,953.60 101.27 4.53% 1,012,705.00 3,472.22 0.49% 15,751.40 Aa1/AA+ AAA 2.93 2.69 437076BY7 HOME DEPOT INC 2.95 06/15/2029 1,663,000.00 09/17/2024 3.93% 1,593,203.89 1,619,453.03 96.03 4.40% 1,596,960.61 2,180.38 0.77% (22,492.43) A2/A A 2.96 2.78 44891AEN3 HYUNDAI CAPITAL AMERICA 4.75 06/18/2029 1,100,000.00 06/15/2026 4.79% 1,098,909.75 1,098,922.68 99.66 4.87% 1,096,239.10 1,886.81 0.53% (2,683.58) A3/A- A- 2.97 2.73 437076DC3 HOME DEPOT INC 4.75 06/25/2029 1,000,000.00 07/01/2024 4.93% 992,260.00 995,361.96 100.99 4.39% 1,009,897.00 791.67 0.49% 14,535.04 A2/A A 2.99 2.68 756109CB8 REALTY INCOME CORP 4.0 07/15/2029 1,463,000.00 08/08/2024 4.69% 1,419,212.41 1,436,012.65 98.17 4.65% 1,436,172.97 26,984.22 0.69% 160.32 A3/A- NA 3.04 2.77 713448FX1 PEPSICO INC 4.5 07/17/2029 1,500,000.00 07/15/2024 4.53% 1,497,675.00 1,498,584.12 100.31 4.39% 1,504,641.00 30,750.00 0.73% 6,056.88 A1/A+ NA 3.05 2.69 46647PAV8 JPMORGAN CHASE & CO 4.203 07/23/2029 1,500,000.00 09/17/2024 4.27% 1,496,610.00 1,498,181.86 99.14 4.84% 1,487,158.50 27,669.75 0.72% (11,023.36) A1/A AA- 3.06 1.92 06051GHM4 BANK OF AMERICA CORP 4.271 07/23/2029 1,500,000.00 09/17/2024 4.29% 1,498,710.00 1,499,308.14 99.21 4.88% 1,488,169.50 28,117.42 0.72% (11,138.64) A1/A- AA- 3.06 1.91 30303M8S4 META PLATFORMS INC 4.3 08/15/2029 912,000.00 08/12/2024 4.33% 910,584.09 911,115.25 99.78 4.38% 909,975.36 14,814.93 0.44% (1,139.89) Aa3/AA- NA 3.13 2.85 171239AL0 CHUBB INA HOLDINGS LLC 4.65 08/15/2029 1,750,000.00 -- 4.44% 1,765,746.34 1,759,973.52 100.49 4.48% 1,758,617.00 30,741.67 0.85% (1,356.52) A2/A A 3.13 2.76 91324PDS8 UNITEDHEALTH GROUP INC 2.875 08/15/2029 2,000,000.00 09/17/2024 3.94% 1,906,080.00 1,940,199.38 95.34 4.49% 1,906,708.00 21,722.22 0.92% (33,491.38) A2/A+ A 3.13 2.91 38 HOLDINGS REPORT City of Cupertino | Account #10659 | As of June 30, 2026 Cusip Security Description Par Value/ Units Purchase Date Purchase Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody's/ S&P/ Fitch Maturity Duration 02665WFQ9 AMERICAN HONDA FINANCE CORP 4.4 09/05/2029 1,750,000.00 10/02/2024 4.29% 1,758,102.50 1,755,236.43 98.95 4.76% 1,731,598.75 24,811.11 0.84% (23,637.68) A3/BBB+ A- 3.18 2.89 40139LBJ1 GUARDIAN LIFE GLOBAL FUNDING 4.179 09/26/2029 1,205,000.00 09/23/2024 4.18% 1,205,000.00 1,205,000.00 98.69 4.62% 1,189,225.35 13,288.64 0.57% (15,774.66) Aa1/AA+ NA 3.24 2.96 61748UAK8 MORGAN STANLEY 4.133 10/18/2029 1,470,000.00 10/17/2025 4.25% 1,470,184.60 1,470,142.00 98.64 4.70% 1,449,934.50 12,319.78 0.70% (20,207.50) A1/A- A+ 3.30 2.15 38141GD27 GOLDMAN SACHS GROUP INC 4.153 10/21/2029 1,025,000.00 10/14/2025 4.37% 1,025,000.00 1,025,000.00 98.59 4.72% 1,010,547.50 8,277.16 0.49% (14,452.50) A2/BBB+ A 3.31 2.15 14913UAU4 CATERPILLAR FINANCIAL SERVICES CORP 4.7 11/15/2029 1,200,000.00 11/14/2024 4.74% 1,198,092.00 1,198,711.63 100.77 4.45% 1,209,266.40 7,206.67 0.58% 10,554.77 A1/A A+ 3.38 3.07 64952WFK4 NEW YORK LIFE GLOBAL FUNDING 4.6 12/05/2029 1,365,000.00 12/02/2024 4.61% 1,364,221.95 1,364,466.10 99.95 4.62% 1,364,280.65 4,534.83 0.66% (185.46) Aa1/AA+ AAA 3.43 3.13 89236TNA9 TOYOTA MOTOR CREDIT CORP 4.95 01/09/2030 1,445,000.00 01/06/2025 5.00% 1,441,907.70 1,442,818.79 101.15 4.59% 1,461,585.71 34,174.25 0.71% 18,766.92 A1/A+ A+ 3.53 3.13 63743HFX5 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.95 02/07/2030 1,000,000.00 02/05/2025 4.88% 1,002,873.61 1,002,058.75 101.05 4.63% 1,010,538.00 19,800.00 0.49% 8,479.25 A2/NA A 3.61 3.14 571748CA8 MARSH & MCLENNAN COMPANIES INC 4.65 03/15/2030 1,400,000.00 03/11/2025 4.69% 1,397,340.00 1,398,026.88 99.90 4.68% 1,398,584.60 19,168.33 0.68% 557.73 A3/A- A- 3.71 3.32 57629TBX4 MASSMUTUAL GLOBAL FUNDING II 4.55 05/07/2030 1,000,000.00 05/01/2025 4.58% 998,670.00 998,975.91 99.26 4.76% 992,633.00 6,825.00 0.48% (6,342.91) Aa3/AA+ AA+ 3.85 3.47 66815L2W8 NORTHWESTERN MUTUAL GLOBAL FUNDING 4.6 06/03/2030 1,000,000.00 06/12/2025 4.51% 1,004,040.00 1,003,187.95 99.72 4.68% 997,198.00 3,577.78 0.48% (5,989.95) Aa1/AA+ AAA 3.93 3.54 828807DK0 SIMON PROPERTY GROUP LP 2.65 07/15/2030 2,000,000.00 08/19/2025 4.32% 1,853,380.00 1,879,181.84 92.73 4.64% 1,854,652.00 24,438.89 0.90% (24,529.84) A3/A NA 4.04 3.71 40139LBN2 GUARDIAN LIFE GLOBAL FUNDING 4.327 10/06/2030 1,500,000.00 09/30/2025 4.33% 1,500,000.00 1,500,000.00 98.37 4.75% 1,475,488.50 15,324.79 0.71% (24,511.50) Aa1/AA+ NA 4.27 3.81 24422EYF0 JOHN DEERE CAPITAL CORP 4.375 10/15/2030 1,000,000.00 11/04/2025 4.22% 1,006,920.00 1,006,007.56 99.40 4.53% 993,959.00 9,236.11 0.48% (12,048.56) A1/A A+ 4.29 3.83 141781CF9 CARGILL INC 4.125 10/23/2030 1,100,000.00 10/20/2025 4.14% 1,099,171.70 1,099,285.56 97.93 4.66% 1,077,252.00 8,570.83 0.52% (22,033.56) A2/A NA 4.31 3.87 30303MAB8 META PLATFORMS INC 4.2 11/15/2030 1,500,000.00 11/13/2025 4.16% 1,502,895.00 1,502,530.10 98.43 4.60% 1,476,469.50 8,050.00 0.71% (26,060.60) Aa3/AA- NA 4.38 3.93 39 HOLDINGS REPORT City of Cupertino | Account #10659 | As of June 30, 2026 Cusip Security Description Par Value/ Units Purchase Date Purchase Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody's/ S&P/ Fitch Maturity Duration 74153WCZ0 PRICOA GLOBAL FUNDING I 4.35 11/25/2030 1,750,000.00 12/08/2025 4.36% 1,749,440.00 1,749,503.05 98.33 4.77% 1,720,761.00 7,612.50 0.83% (28,742.05) Aa3/NA AA- 4.41 3.94 89236TPH2 TOYOTA MOTOR CREDIT CORP 4.2 01/10/2031 1,080,000.00 01/07/2026 4.21% 1,079,665.20 1,079,696.40 98.20 4.64% 1,060,583.76 21,294.00 0.51% (19,112.64) A1/A+ A+ 4.53 3.99 66815L2Z1 NORTHWESTERN MUTUAL GLOBAL FUNDING 4.3 01/13/2031 1,020,000.00 01/06/2026 4.30% 1,019,908.20 1,019,916.70 98.44 4.69% 1,004,050.26 20,468.00 0.49% (15,866.44) Aa1/AA+ AAA 4.54 3.99 6944PL3M9 PACIFIC LIFE GLOBAL FUNDING II 4.375 02/03/2031 1,000,000.00 01/29/2026 4.34% 1,001,380.00 1,001,268.15 98.72 4.69% 987,156.00 17,986.11 0.48% (14,112.15) Aa3/AA- AA- 4.60 4.04 92826CAZ5 VISA INC 4.1 02/12/2031 1,345,000.00 02/03/2026 4.13% 1,343,197.70 1,343,334.90 98.91 4.36% 1,330,348.92 21,292.10 0.64% (12,985.98) Aa3/AA- NA 4.62 4.09 02079KBK2 ALPHABET INC 4.1 02/15/2031 1,500,000.00 02/12/2026 4.10% 1,500,087.78 1,500,080.84 98.26 4.52% 1,473,870.00 23,575.00 0.71% (26,210.84) Aa2/AA+ NA 4.63 4.10 24422EYL7 JOHN DEERE CAPITAL CORP 4.2 03/10/2031 1,060,000.00 03/05/2026 4.20% 1,059,766.80 1,059,781.23 98.32 4.60% 1,042,178.22 13,727.00 0.50% (17,603.01) A1/A A+ 4.69 4.15 14913V2D9 CATERPILLAR FINANCIAL SERVICES CORP 4.5 05/15/2031 525,000.00 05/11/2026 4.53% 524,280.75 524,299.26 99.53 4.61% 522,516.23 3,018.75 0.25% (1,783.04) A1/A A+ 4.87 4.30 57636QBL7 MASTERCARD INC 4.6 06/08/2031 1,765,000.00 06/04/2026 4.62% 1,763,588.00 1,763,605.79 99.85 4.63% 1,762,287.20 5,187.14 0.85% (1,318.59) Aa3/A+ NA 4.94 4.36 67066GAR5 NVIDIA CORP 4.5 06/15/2031 1,065,000.00 06/15/2026 4.54% 1,062,976.50 1,062,990.93 99.65 4.58% 1,061,229.90 1,730.63 0.51% (1,761.03) Aa1/AA NA 4.96 4.39 Total Corporate 56,413,000.00 4.36% 55,998,979.17 56,129,083.42 98.87 4.59% 55,760,228.93 647,952.25 26.95% (368,854.49) 3.51 3.07 MONEY MARKET FUND VP4520004 WF ADV 100% TREAS MM FD-SVC CL #008 462,087.37 -- 0.01% 462,087.37 462,087.37 1.00 3.22% 462,087.37 0.00 0.22% 0.00 Aaa/AAAm NA 0.00 0.00 Total Money Market Fund 462,087.37 0.01% 462,087.37 462,087.37 1.00 3.22% 462,087.37 0.00 0.22% 0.00 0.00 0.00 MUNICIPAL BONDS 13063EGT7 CALIFORNIA STATE 4.5 08/01/2029 1,740,000.00 10/30/2024 4.38% 1,749,169.80 1,745,973.62 100.46 4.34% 1,747,990.08 32,625.00 0.84% 2,016.46 Aa2/AA- AA 3.09 2.80 40 HOLDINGS REPORT City of Cupertino | Account #10659 | As of June 30, 2026 Cusip Security Description Par Value/ Units Purchase Date Purchase Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody's/ S&P/ Fitch Maturity Duration Total Municipal Bonds 1,740,000.00 4.38% 1,749,169.80 1,745,973.62 100.46 4.34% 1,747,990.08 32,625.00 0.84% 2,016.46 3.09 2.80 SUPRANATIONAL 459058LN1 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.875 10/16/2029 1,750,000.00 12/12/2024 4.25% 1,721,510.00 1,730,614.55 99.00 4.20% 1,732,557.75 14,122.50 0.84% 1,943.20 Aaa/AAA NA 3.30 3.03 459058LR2 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 1,700,000.00 03/14/2025 4.20% 1,694,220.00 1,695,701.40 99.70 4.21% 1,694,879.60 19,673.96 0.82% (821.80) Aaa/AAA NA 3.72 3.38 Total Supranational 3,450,000.00 4.23% 3,415,730.00 3,426,315.96 99.35 4.21% 3,427,437.35 33,796.46 1.66% 1,121.39 3.51 3.20 US TREASURY 91282CCZ2 UNITED STATES TREASURY 0.875 09/30/2026 1,400,000.00 10/18/2021 1.19% 1,379,054.68 1,398,945.20 99.28 3.81% 1,389,864.00 3,079.24 0.67% (9,081.20) Aa1/AA+ AA+ 0.25 0.25 91282CDG3 UNITED STATES TREASURY 1.125 10/31/2026 1,400,000.00 11/15/2021 1.25% 1,391,468.75 1,399,424.65 99.08 3.92% 1,387,162.00 2,653.53 0.67% (12,262.65) Aa1/AA+ AA+ 0.34 0.33 91282CJP7 UNITED STATES TREASURY 4.375 12/15/2026 2,500,000.00 12/28/2023 4.01% 2,525,097.66 2,503,873.67 100.23 3.85% 2,505,800.00 4,781.42 1.21% 1,926.33 Aa1/AA+ AA+ 0.46 0.45 912828V98 UNITED STATES TREASURY 2.25 02/15/2027 3,000,000.00 06/29/2026 3.99% 2,968,007.81 2,968,146.91 98.92 4.01% 2,967,651.00 25,359.12 1.43% (495.91) Aa1/AA+ AA+ 0.63 0.61 91282CKJ9 UNITED STATES TREASURY 4.5 04/15/2027 2,300,000.00 04/17/2024 4.77% 2,283,109.38 2,295,545.33 100.36 4.02% 2,308,332.90 21,774.59 1.12% 12,787.57 Aa1/AA+ AA+ 0.79 0.76 91282CKR1 UNITED STATES TREASURY 4.5 05/15/2027 3,200,000.00 05/08/2024 4.65% 3,186,500.00 3,196,079.45 100.33 4.10% 3,210,688.00 18,391.30 1.55% 14,608.55 Aa1/AA+ AA+ 0.87 0.84 91282CEW7 UNITED STATES TREASURY 3.25 06/30/2027 3,250,000.00 -- 3.18% 3,260,312.50 3,252,003.31 99.16 4.12% 3,222,729.25 287.02 1.56% (29,274.06) Aa1/AA+ AA+ 1.00 0.97 91282CFB2 UNITED STATES TREASURY 2.75 07/31/2027 400,000.00 08/22/2022 3.12% 393,218.75 398,514.37 98.54 4.15% 394,140.80 4,588.40 0.19% (4,373.57) Aa1/AA+ AA+ 1.08 1.04 91282CFH9 UNITED STATES TREASURY 3.125 08/31/2027 4,500,000.00 -- 3.28% 4,468,902.34 4,492,706.40 98.86 4.13% 4,448,673.00 47,002.38 2.15% (44,033.40) Aa1/AA+ AA+ 1.17 1.12 41 HOLDINGS REPORT City of Cupertino | Account #10659 | As of June 30, 2026 Cusip Security Description Par Value/ Units Purchase Date Purchase Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody's/ S&P/ Fitch Maturity Duration 91282CFM8 UNITED STATES TREASURY 4.125 09/30/2027 3,450,000.00 -- 4.31% 3,421,152.34 3,442,678.64 99.97 4.14% 3,449,058.15 35,772.54 1.67% 6,379.51 Aa1/AA+ AA+ 1.25 1.19 91282CFZ9 UNITED STATES TREASURY 3.875 11/30/2027 850,000.00 12/05/2022 3.81% 852,656.25 850,754.55 99.61 4.16% 846,646.75 2,789.79 0.41% (4,107.80) Aa1/AA+ AA+ 1.42 1.36 91282CGC9 UNITED STATES TREASURY 3.875 12/31/2027 2,750,000.00 -- 3.67% 2,775,107.42 2,757,652.34 99.58 4.17% 2,738,397.75 289.57 1.32% (19,254.59) Aa1/AA+ AA+ 1.50 1.44 91282CGH8 UNITED STATES TREASURY 3.5 01/31/2028 3,000,000.00 02/07/2023 3.81% 2,957,929.69 2,986,601.37 98.97 4.18% 2,969,064.00 43,798.34 1.44% (17,537.37) Aa1/AA+ AA+ 1.59 1.50 91282CGP0 UNITED STATES TREASURY 4.0 02/29/2028 3,700,000.00 -- 4.01% 3,699,113.28 3,699,749.06 99.73 4.16% 3,690,172.80 49,467.39 1.78% (9,576.26) Aa1/AA+ AA+ 1.67 1.57 91282CNY3 UNITED STATES TREASURY 3.375 09/15/2028 5,000,000.00 10/28/2025 3.50% 4,982,812.50 4,986,815.29 98.34 4.17% 4,916,795.00 49,524.46 2.38% (70,020.29) Aa1/AA+ AA+ 2.21 2.08 91282CQA2 UNITED STATES TREASURY 3.5 02/15/2029 4,000,000.00 04/27/2026 3.81% 3,966,718.75 3,968,798.83 98.34 4.17% 3,933,752.00 52,596.69 1.90% (35,046.83) Aa1/AA+ AA+ 2.63 2.45 91282CKG5 UNITED STATES TREASURY 4.125 03/31/2029 2,300,000.00 04/17/2024 4.62% 2,249,867.19 2,272,160.76 99.88 4.17% 2,297,304.40 23,848.36 1.11% 25,143.64 Aa1/AA+ AA+ 2.75 2.55 91282CKX8 UNITED STATES TREASURY 4.25 06/30/2029 2,000,000.00 07/01/2024 4.41% 1,985,546.88 1,991,323.37 100.23 4.17% 2,004,532.00 230.98 0.97% 13,208.63 Aa1/AA+ AA+ 3.00 2.79 91282CLK5 UNITED STATES TREASURY 3.625 08/31/2029 3,500,000.00 09/11/2024 3.45% 3,527,480.47 3,517,537.18 98.40 4.17% 3,443,944.00 42,406.59 1.66% (73,593.18) Aa1/AA+ AA+ 3.17 2.92 91282CLN9 UNITED STATES TREASURY 3.5 09/30/2029 5,000,000.00 -- 3.83% 4,925,039.06 4,950,936.14 97.97 4.17% 4,898,440.00 43,989.07 2.37% (52,496.14) Aa1/AA+ AA+ 3.25 3.01 91282CLR0 UNITED STATES TREASURY 4.125 10/31/2029 3,000,000.00 10/31/2024 4.17% 2,993,789.06 2,995,854.84 99.84 4.18% 2,995,194.00 20,849.18 1.45% (660.84) Aa1/AA+ AA+ 3.34 3.06 91282CMD0 UNITED STATES TREASURY 4.375 12/31/2029 4,400,000.00 -- 4.53% 4,369,171.88 4,378,223.83 100.64 4.17% 4,428,358.00 523.10 2.14% 50,134.17 Aa1/AA+ AA+ 3.50 3.21 91282CMG3 UNITED STATES TREASURY 4.25 01/31/2030 4,000,000.00 02/07/2025 4.34% 3,983,906.25 3,988,390.52 100.22 4.18% 4,008,752.00 70,911.60 1.94% 20,361.48 Aa1/AA+ AA+ 3.59 3.24 91282CGQ8 UNITED STATES TREASURY 4.0 02/28/2030 4,500,000.00 -- 4.01% 4,496,958.99 4,497,715.63 99.39 4.18% 4,472,752.50 60,163.04 2.16% (24,963.13) Aa1/AA+ AA+ 3.67 3.33 91282CNK3 UNITED STATES TREASURY 3.875 06/30/2030 5,000,000.00 -- 3.78% 5,020,507.81 5,018,010.74 98.84 4.19% 4,942,190.00 526.49 2.39% (75,820.74) Aa1/AA+ AA+ 4.00 3.66 91282CHR5 UNITED STATES TREASURY 4.0 07/31/2030 5,000,000.00 10/23/2025 3.59% 5,089,062.50 5,076,273.51 99.27 4.19% 4,963,670.00 83,425.41 2.40% (112,603.51) Aa1/AA+ AA+ 4.08 3.67 42 HOLDINGS REPORT City of Cupertino | Account #10659 | As of June 30, 2026 Cusip Security Description Par Value/ Units Purchase Date Purchase Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody's/ S&P/ Fitch Maturity Duration 91282CNX5 UNITED STATES TREASURY 3.625 08/31/2030 5,000,000.00 -- 3.66% 4,991,425.79 4,992,876.07 97.83 4.20% 4,891,600.00 60,580.84 2.36% (101,276.07) Aa1/AA+ AA+ 4.17 3.77 91282CPA3 UNITED STATES TREASURY 3.625 09/30/2030 5,000,000.00 -- 3.59% 5,008,789.06 5,007,563.14 97.80 4.20% 4,889,845.00 45,560.11 2.36% (117,718.14) Aa1/AA+ AA+ 4.25 3.86 91282CPN5 UNITED STATES TREASURY 3.5 11/30/2030 1,750,000.00 12/15/2025 3.73% 1,731,816.41 1,733,795.51 97.20 4.20% 1,700,917.75 5,187.84 0.82% (32,877.76) Aa1/AA+ AA+ 4.42 4.03 91282CQG9 UNITED STATES TREASURY 3.875 03/31/2031 3,500,000.00 05/21/2026 4.28% 3,438,066.41 3,439,462.88 98.58 4.21% 3,450,233.50 34,091.53 1.67% 10,770.62 Aa1/AA+ AA+ 4.75 4.25 Total US Treasury 98,650,000.00 3.83% 98,322,589.86 98,458,413.49 99.11 4.15% 97,766,660.55 854,449.94 47.26% (691,752.94) 2.66 2.44 Total Portfolio 209,750,558.47 4.11% 207,356,230.92 208,055,759.90 98.43 4.31% 206,884,323.76 1,712,686.71 100.00% (1,171,436.14) 2.91 2.52 Total Market Value + Accrued 208,597,010.47 43 HOLDINGS REPORT City of Cupertino Reporting | Account #10663 | As of June 30, 2026 Cusip Security Description Par Value/ Units Purchase Date Purchase Yield Cost Value Book Value Mkt Price Mkt YTM Market Value Accrued Int. % of Port. Gain/Loss Moody's/ S&P/ Fitch Maturity Duration CASH 90CASH$02 Wells Fargo WC Distribution Account 14,961.31 01/31/2026 0.00% 14,961.31 14,961.31 1.00 0.00% 14,961.31 0.00 0.02% 0.00 NA/NA NA 0.00 0.00 90CASH$00 Wells Fargo Government Advantage Checking 5,345,419.77 -- 3.00% 5,345,419.77 5,345,419.77 1.00 3.00% 5,345,419.77 0.00 5.60% 0.00 NA/NA NA 0.00 0.00 CCYUSD Receivable 711,472.08 --711,472.08 711,472.08 1.00 711,472.08 0.00 0.75% 0.00 Aaa/AAA AAA 0.00 0.00 Total Cash 6,071,853.16 2.99% 6,071,853.16 6,071,853.16 1.00 2.99% 6,071,853.16 0.00 6.36% 0.00 0.00 0.00 LAIF 90LAIF$00 Local Agency Investment Fund State Pool 74,905,307.18 -- 3.82% 74,905,307.18 74,905,307.18 1.00 3.82% 74,905,307.18 0.00 78.48% 0.00 NA/NA NA 0.00 0.00 Total LAIF 74,905,307.18 3.82% 74,905,307.18 74,905,307.18 1.00 3.82% 74,905,307.18 0.00 78.48% 0.00 0.00 0.00 LOCAL GOV INVESTMENT POOL 90CALFT$0 CalFIT 14,468,801.25 -- 3.78% 14,468,801.25 14,468,801.25 1.00 3.78% 14,468,801.25 0.00 15.16% 0.00 NA/NA NA 0.00 0.00 Total Local Gov Investment Pool 14,468,801.25 3.78% 14,468,801.25 14,468,801.25 1.00 3.78% 14,468,801.25 0.00 15.16% 0.00 0.00 0.00 Total Portfolio 95,445,961.59 3.77% 95,445,961.59 95,445,961.59 1.00 3.77% 95,445,961.59 0.00 100.00% 0.00 0.00 0.00 Total Market Value + Accrued 95,445,961.59 44 TRANSACTIONS 45 TRANSACTION LEDGER City of Cupertino | Account #10659|04/01/2026 Through 06/30/2026| Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/ Sold Total Amount Gain/Loss ACQUISITIONS Purchase 04/21/2026 89240QAD7 760,000.00 TAOT 2026-B A3 4.13 12/16/2030 99.979 4.27%(759,839.72)0.00 (759,839.72)0.00 Purchase 04/28/2026 91282CQA2 4,000,000.00 UNITED STATES TREASURY 3.5 02/15/2029 99.168 3.81%(3,966,718.75)(27,845.30)(3,994,564.05)0.00 Purchase 05/15/2026 14913V2D9 525,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.5 05/15/2031 99.863 4.53%(524,280.75)0.00 (524,280.75)0.00 Purchase 05/22/2026 91282CQG9 3,500,000.00 UNITED STATES TREASURY 3.875 03/31/2031 98.230 4.28%(3,438,066.41)(19,269.13)(3,457,335.54)0.00 Purchase 05/28/2026 161571JA3 1,595,000.00 CHAIT 2026-1 A 4.4 05/15/2029 99.976 4.45%(1,594,622.62)0.00 (1,594,622.62)0.00 Purchase 06/03/2026 38151LAJ9 675,000.00 GOLDMAN SACHS BANK USA 4.656 06/03/2029 100.000 4.57%(675,000.00)0.00 (675,000.00)0.00 Purchase 06/03/2026 38151LAJ9 (675,000.00) GOLDMAN SACHS BANK USA 4.656 06/03/2029 100.000 4.57%675,000.00 0.00 0.00 0.00 Purchase 06/03/2026 38151LAJ9 675,000.00 GOLDMAN SACHS BANK USA 4.656 06/03/2029 100.000 4.57%(675,000.00)0.00 0.00 0.00 Purchase 06/08/2026 3137FX3Q9 1,000,000.00 FHMS K-117 A2 1.406 08/25/2030 88.582 4.46%(885,820.31)(273.39)(886,093.70)0.00 Purchase 06/08/2026 57636QBL7 1,765,000.00 MASTERCARD INC 4.6 06/08/2031 99.920 4.62%(1,763,588.00)0.00 (1,763,588.00)0.00 Purchase 06/18/2026 44891AEN3 555,000.00 HYUNDAI CAPITAL AMERICA 4.75 06/18/2029 99.834 4.81%(554,078.70)0.00 (554,078.70)0.00 Purchase 06/18/2026 44891AEN3 545,000.00 HYUNDAI CAPITAL AMERICA 4.75 06/18/2029 99.969 4.76%(544,831.05)0.00 (544,831.05)0.00 Purchase 06/18/2026 67066GAR5 1,065,000.00 NVIDIA CORP 4.5 06/15/2031 99.810 4.54%(1,062,976.50)0.00 (1,062,976.50)0.00 46 TRANSACTION LEDGER City of Cupertino | Account #10659|04/01/2026 Through 06/30/2026| Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/ Sold Total Amount Gain/Loss Purchase 06/30/2026 912828V98 3,000,000.00 UNITED STATES TREASURY 2.25 02/15/2027 98.934 3.99%(2,968,007.81)(25,172.65)(2,993,180.46)0.00 Total Purchase 18,985,000.00 (18,737,830.62)(72,560.47)(18,810,391.09)0.00 TOTAL ACQUISITIONS 18,985,000.00 (18,737,830.62)(72,560.47)(18,810,391.09)0.00 DISPOSITIONS Maturity 04/20/2026 4581X0DV7 (2,460,000.00) INTER-AMERICAN DEVELOPMENT BANK 0.875 04/20/2026 100.000 0.97%2,460,000.00 0.00 2,460,000.00 0.00 Maturity 04/30/2026 91282CBW0 (2,500,000.00) UNITED STATES TREASURY 0.75 04/30/2026 100.000 0.80%2,500,000.00 0.00 2,500,000.00 0.00 Maturity 06/23/2026 912797UB1 (2,000,000.00)UNITED STATES TREASURY 06/23/2026 100.000 3.68%2,000,000.00 0.00 2,000,000.00 0.00 Total Maturity (6,960,000.00)6,960,000.00 0.00 6,960,000.00 0.00 Sale 04/17/2026 57636QAW4 (945,000.00)MASTERCARD INC 4.875 03/09/2028 101.604 4.90%960,157.80 4,862.81 965,020.61 15,504.99 Sale 04/17/2026 931142ER0 (350,000.00)WALMART INC 1.05 09/17/2026 98.797 1.09%345,789.50 306.25 346,095.75 (4,155.07) Sale 05/12/2026 78016HZV5 (2,000,000.00) ROYAL BANK OF CANADA 4.95 02/01/2029 101.596 4.69%2,031,920.00 27,775.00 2,059,695.00 19,144.52 Sale 06/04/2026 61690U8E3 (1,950,000.00) MORGAN STANLEY BANK NA 4.968 07/14/2028 100.562 4.97%1,960,959.00 37,674.00 1,998,633.00 10,959.00 Sale 06/08/2026 808513BY0 (960,000.00)CHARLES SCHWAB CORP 2.45 03/03/2027 98.764 2.46%948,134.40 6,206.67 954,341.07 (11,821.65) Sale 06/17/2026 69371RU20 (1,865,000.00)PACCAR FINANCIAL CORP 4.0 11/07/2028 99.418 4.02%1,854,145.70 8,288.89 1,862,434.59 (10,021.45) Total Sale (8,070,000.00)8,101,106.40 85,113.62 8,186,220.02 19,610.34 TOTAL DISPOSITIONS (15,030,000.00)15,061,106.40 85,113.62 15,146,220.02 19,610.34 47 TRANSACTION LEDGER City of Cupertino Reporting | Account #10663|04/01/2026 Through 06/30/2026| Transaction Type Settlement Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/ Sold Total Amount Gain/Loss ACQUISITIONS Purchase 04/15/2026 90LAIF$00 725,046.48 Local Agency Investment Fund State Pool 1.000 3.81%(725,046.48)0.00 (725,046.48)0.00 Purchase 05/01/2026 90CALFT$0 8,200,848.13 CalFIT 1.000 3.76%(8,200,848.13)0.00 (8,200,848.13)0.00 Purchase 05/15/2026 90CALFT$0 4,700,000.00 CalFIT 1.000 3.76%(4,700,000.00)0.00 (4,700,000.00)0.00 Purchase 05/28/2026 90CALFT$0 7,000,000.00 CalFIT 1.000 3.76%(7,000,000.00)0.00 (7,000,000.00)0.00 Purchase 05/31/2026 90LAIF$00 200,000.00 Local Agency Investment Fund State Pool 1.000 3.81%(200,000.00)0.00 (200,000.00)0.00 Purchase 05/31/2026 90CALFT$0 29,340.36 CalFIT 1.000 3.76%(29,340.36)0.00 (29,340.36)0.00 Purchase 06/25/2026 90CALFT$0 4,500,000.00 CalFIT 1.000 3.78%(4,500,000.00)0.00 (4,500,000.00)0.00 Purchase 06/30/2026 90CALFT$0 38,612.76 CalFIT 1.000 3.78%(38,612.76)0.00 (38,612.76)0.00 Total Purchase 25,393,847.73 (25,393,847.73)0.00 (25,393,847.73)0.00 TOTAL ACQUISITIONS 25,393,847.73 (25,393,847.73)0.00 (25,393,847.73)0.00 DISPOSITIONS Sale 05/21/2026 90CALFT$0 (7,000,000.00)CalFIT 1.000 3.76%7,000,000.00 0.00 7,000,000.00 0.00 Sale 06/17/2026 90CALFT$0 (3,000,000.00)CalFIT 1.000 3.78%3,000,000.00 0.00 3,000,000.00 0.00 Total Sale (10,000,000.00)10,000,000.00 0.00 10,000,000.00 0.00 TOTAL DISPOSITIONS (10,000,000.00)10,000,000.00 0.00 10,000,000.00 0.00 48 IMPORTANT DISCLOSURES 2026 Chandler Asset Management, Inc, An Independent Registered Investment Adviser. Information contained herein is confidential. Prices are provided by ICE Data Services Inc (“IDS”), an independent pricing source. In the event IDS does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A. Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio. Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index. Source ICE Data Indices, LLC (“ICE”), used with permission. ICE permits use of the ICE indices and related data on an “as is” basis; ICE, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliates or their respective third party providers guarantee the quality, adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and licensee’s use it at licensee’s own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend chandler asset management, or any of its products or services. This report is provided for informational purposes only and should not be construed as a specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice. Any opinions or views expressed are based on current market conditions and are subject to change. This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results. Past performance is not indicative of future results. This report is not intended to constitute an offer, solicitation, recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment. Fixed income investments are subject to interest, credit and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise. Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk. Market risk: the bond market in general could decline due to economic conditions, especially during periods of rising interest rates. Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy. Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest. LGIP Yields: Reported yields for local government investment pools may be presented as either the 30-day yield or the monthly distribution yield, as applicable. For certain funds, the 30-day yield is calculated using reported daily yield data. Yield calculations are subject to change and may not be directly comparable across funds. LAIF Yields: Additional Disclosure for CA Clients - As a result of a reporting lag from the Local Agency Investment Fund (LAIF), reported LAIF yields represent the most recently available Daily Effective Yield and may reflect data from approximately 7–10 days prior to month-end. 49 BENCHMARK DISCLOSURES Benchmark Disclosure ICE BofA 1-5 Yr Unsubordinated US Treasury & Agency Index The ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies. 50 INVESTMENT AND INSURANCE PRODUCTS ARE:·NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) OR ANY FEDERAL GOVERNMENT AGENCY·NOT A DEPOSIT, OBLIGATION OF, OR GUARANTEED BY ANY BANK OR BANKING AFFILIATE·SUBJECT TO INVESTMENT RISKS AND MAY LOSE VALUE, INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED PCS - SAN FRANCISCO CA 510 N VALLEY MILLS DRIVE, SUITE 400 WACO, TX 76710-6075 CITY OF CUPERTINO - CHANDLER ASSET MANAGEMENT ACCOUNT NUMBER MONTHLY STATEMENT JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT MANAGER: INDIA JONES TELEPHONE NUMBER: 254-294-6020 PFGEDD INVESTMENT CONTACT: IMR/DEREK JOHNSON TELEPHONE NUMBER: ADMINISTRATOR: BELINDA CONWAY TELEPHONE NUMBER: 254-265-6137 18226 SE Custody and trust services are provided by Principal Bank®, Member FDIC, and/or Principal Trust Company®. These services are provided under the trade name Principal®Custody Solutions. Principal Trust Company is a trade name of Delaware Charter Guarantee & Trust Company. Principal Bank and Principal Trust Company are members of the Principal Financial Group®, Des Moines, IA 50392. ASSET VALUATION PRACTICES VALUES REFLECTED FOR PUBLICLY TRADED ASSETS ARE OBTAINED FROM UNAFFILIATED SOURCES. IN SITUATIONS WHERE AN ASSET VALUE CANNOT BE PROVIDED BY OUR UNAFFILIATED PRICING SOURCES, SUCH AS BUT NOT LIMITED TO NON-PUBLICLY TRADED ASSETS, THE CUSTOMER OR THEIR DESIGNATED REPRESENTATIVE MUST PROVIDE THE UPDATED VALUE. IF PRINCIPAL CUSTODY SOLUTIONS DOES NOT RECEIVE AN UPDATED VALUE, OR IS UNABLE TO USE THE VALUE PROVIDED, THE LAST REPORTED VALUE WILL CONTINUE TO BE REPORTED. TRADE CONFIRMS PURSUANT TO FEDERAL REGULATION, MONTHLY OR QUARTERLY ACCOUNT STATEMENTS THAT INCLUDE INVESTMENT TRANSACTION DETAILS MAY BE PROVIDED IN LIEU OF SEPARATE TRADE CONFIRMATIONS. SEPARATE TRADE CONFIRMS MAY BE OBTAINED AT NO ADDITIONAL COST UPON WRITTEN REQUEST TO THE ACCOUNT MANAGER. UNCLAIMED PROPERTY DESIGNATED REPRESENTATIVE NOTIFICATION YOUR PROPERTY MAY BE TRANSFERRED TO THE APPROPRIATE STATE IF NO ACTIVITY OCCURS IN THE ACCOUNT WITHIN THE TIME PERIOD SPECIFIED BY STATE LAW. IF YOUR STATE OF RESIDENCE ALLOWS, YOU MAY DESIGNATE A REPRESENTATIVE FOR THE PURPOSE OF RECEIVING NOTICE OF ACCOUNT INACTIVITY BY PROVIDING THE NAME AND MAILING OR EMAIL ADDRESS OF A REPRESENTATIVE. THE DESIGNATED REPRESENTATIVE DOES NOT HAVE ANY RIGHTS TO YOUR ACCOUNT. PLEASE REFER TO YOUR STATE'S UNCLAIMED PROPERTY WEBSITE FOR MORE INFORMATION AND INSTRUCTIONS ON HOW TO DESIGNATE A REPRESENTATIVE FOR NOTICE. TABLE OF CONTENTS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ PAGE REPORT NAME NUMBER_________________ ASSET SUMMARY .................................................................................. 1 STATEMENT OF ASSETS AND LIABILITIES ............................................................ 2 CASH SUMMARY ................................................................................... 20 STATEMENT OF TRANSACTIONS ...................................................................... 21 PAGE 1 ASSET SUMMARY CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ ASSET SUMMARY % TOTAL UNREALIZED ESTIMATED CURRENT ACCRUED INVESTMENT CATEGORY COST VALUE MARKET VALUE MARKET GAIN/LOSS ANNUAL INCOME YIELD INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ CASH 0.00 0.00 0.00 CASH EQUIVALENTS 515,339.87 515,339.87 0.25 0.00 15,820 3.07 4,328.15 BONDS AND NOTES 206,836,562.93 206,364,701.52 99.75 471,861.41- 7,988,066 3.87 1,713,005.61 ===================================================================================================================================== TOTAL INVESTMENTS 207,351,902.80 206,880,041.39 100.00 471,861.41- 8,003,886 3.87 1,717,333.76 TOTAL ACCRUALS 1,717,333.76 1,717,333.76 ===================================================================================================================================== TOTAL ACCRUALS AND INVESTMENTS 209,069,236.56 208,597,375.15 471,861.41- 8,003,886 3.87 1,717,333.76 PAGE 2 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ CASH EQUIVALENTS______________________________________________________________________________________________________________________________________ 462,087.37 ALLSPRING 100% TREASURY 462,087.37 462,087.37 0.22 0.00 4,249.37 MONEY MARKET FUND - #008 1.0000 1.0000 53,252.5 PRINCIPAL PUBLIC DEPOSIT SWEEP 53,252.50 53,252.50 0.03 0.00 78.78 PROGRAM 1.0000 1.0000 ====================================================================================================================================== TOTAL CASH EQUIVALENTS 515,339.87 515,339.87 0.25 0.00 4,328.15 BOND & NOTES______________________________________________________________________________________________________________________________________ 1,500,000 ALPHABET INC 1,500,087.78 1,473,870.00 0.71 26,217.78- 23,575.00 DTD 02/13/2026 4.100% 02/15/2031 100.0059 98.2580 CALLABLE MOODY'S RATING AA2 CUSIP 02079KBK2 1,420,000 AMERICAN EXPRESS CREDIT ACCOUNT 1,419,974.30 1,418,565.80 0.69 1,408.50- 2,701.16 ASSET BCKD SEC SER 2025-2 CL A 99.9982 99.8990 DTD 05/13/2025 4.280% 04/15/2030 NON CALLABLE CUSIP 02582JKP4 1,750,000 AMERICAN HONDA FINANCE 1,758,102.50 1,731,607.50 0.84 26,495.00- 24,811.11 MEDIUM TERM NOTE 100.4630 98.9490 DTD 09/05/2024 4.400% 09/05/2029 NON CALLABLE MOODY'S RATING A3 CUSIP 02665WFQ9 1,500,000 BANK OF AMERICA CORP 1,498,710.00 1,488,165.00 0.72 10,545.00- 28,117.42 DTD 07/23/18 07/23/2029 VAR CPN 99.9140 99.2110 MOODY'S RATING A1 CUSIP 06051GHM4 PAGE 3 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 850,000 BANK OF AMERICA CREDIT CARD TRUST 858,798.83 852,720.00 0.41 6,078.83- 1,881.33 ASSET BCKD SEC SER 2023-A2 CL A2 101.0352 100.3200 DTD 12/14/2023 4.980% 11/15/2028 NON CALLABLE MOODY'S RATING AAA CUSIP 05522RDH8 785,000 BANK OF AMERICA CREDIT CARD TRUST 784,955.96 790,063.25 0.38 5,107.29 1,720.02 ASSET BCKD SEC SER 2024-A1 CL A 99.9944 100.6450 DTD 06/13/2024 4.930% 05/15/2029 NON CALLABLE MOODY'S RATING AAA CUSIP 05522RDJ4 1,615,000 BERKSHIRE HATHAWAY FIN 1,614,693.15 1,593,698.15 0.77 20,995.00- 10,937.14 DTD 03/15/2022 2.300% 03/15/2027 99.9810 98.6810 CALLABLE MOODY'S RATING AA2 CUSIP 084664CZ2 1,050,000 BMW VEHICLE LEASE TRUST 1,049,997.06 1,046,587.50 0.51 3,409.56-694.75 ASSET BCKD SEC SER 2025-2 CL A3 99.9997 99.6750 DTD 10/15/2025 3.970% 09/25/2028 CALLABLE CUSIP 05594HAD5 431,494.98 BMW VEHICLE OWNER TRUST 431,429.43 433,678.34 0.21 2,248.91 372.52 ASSET BCKD SEC SER 2024-A CL A3 99.9848 100.5060 DTD 06/11/2024 5.180% 02/26/2029 CALLABLE MOODY'S RATING AAA CUSIP 096919AD7 1,740,000 CALIFORNIA STATE 1,749,169.80 1,747,986.60 0.84 1,183.20- 32,625.00 GENERAL OBLIGATION 100.5270 100.4590 DTD 11/05/2024 4.500% 08/01/2029 NON CALLABLE MOODY'S RATING AA2 CUSIP 13063EGT7 PAGE 4 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,100,000 CARGILL INC 1,099,171.70 1,077,252.00 0.52 21,919.70- 8,570.83 DTD 10/23/2025 4.125% 10/23/2030 99.9247 97.9320 CALLABLE 144A PRIVATE PLACEMENT MOODY'S RATING A2 CUSIP 141781CF9 525,000 CATERPILLAR FINL SERVICE 524,280.75 522,516.75 0.25 1,764.00- 3,018.75 MEDIUM TERM NOTE 99.8630 99.5270 DTD 05/15/2026 4.500% 05/15/2031 NON CALLABLE MOODY'S RATING A1 CUSIP 14913V2D9 1,200,000 CATERPILLAR FINL SVCS 1,198,092.00 1,209,264.00 0.58 11,172.00 7,206.67 DTD 11/15/2024 4.700% 11/15/2029 99.8410 100.7720 NON CALLABLE MOODY'S RATING A1 CUSIP 14913UAU4 1,690,000 CHASE ISSUANCE TRUST 1,689,742.61 1,693,718.00 0.82 3,975.39 3,455.11 ASSET BCKD SEC SER 2024-A1I CL A 99.9848 100.2200 DTD 01/31/2024 4.600% 01/16/2029 NON CALLABLE CUSIP 161571HV9 1,595,000 CHASE ISSUANCE TRUST 1,594,622.62 1,596,036.75 0.77 1,414.13 6,433.17 ASSET BCKD SEC SER 2026-A1I CL A 99.9764 100.0650 DTD 05/28/2026 4.400% 05/15/2031 CALLABLE CUSIP 161571JA3 1,750,000 CHUBB INA HOLDINGS LLC 1,765,746.34 1,758,610.00 0.85 7,136.34- 30,741.67 DTD 07/31/2024 4.650% 08/15/2029 100.8998 100.4920 CALLABLE MOODY'S RATING A2 CUSIP 171239AL0 PAGE 5 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,500,000 CITIBANK CREDIT CARD ISSURANCE 1,515,000.00 1,497,465.00 0.72 17,535.00- 1,791.67 ASSET BCKD SEC SER 2025-A1 CL A 101.0000 99.8310 DTD 06/26/2025 4.300% 06/21/2030 NON CALLABLE MOODY'S RATING AAA CUSIP 17305EHA6 1,288,000 FED HOME LN MTG CORP 1,228,178.44 1,259,676.88 0.61 31,498.44 3,824.29 SER K089 CL A2 *24 DAY DELAY*95.3555 97.8010 DTD 03/01/19 3.563 01/25/2029 CUSIP 3137FL6P4 1,957,816.96 FED HOME LN MTG CORP 1,888,834.51 1,884,183.46 0.91 4,651.05- 4,865.18 SER K093 CL A2 *24 DAY DELAY*96.4766 96.2390 DTD 06/01/19 2.982 05/25/2029 CUSIP 3137FMCR1 1,500,000 FED HOME LN MTG CORP 1,407,011.72 1,418,760.00 0.69 11,748.28 3,243.75 SER K099 CL A2 *24 DAY DELAY*93.8008 94.5840 DTD 10/01/19 2.595 09/25/2029 CUSIP 3137FPJG1 2,800,000 FEDERAL FARM CREDIT BANK 2,789,612.00 2,814,672.00 1.36 25,060.00 16,547.22 DTD 11/15/2023 4.625% 11/15/2027 99.6290 100.5240 NON CALLABLE MOODY'S RATING AA1 CUSIP 3133EPC60 2,400,000 FEDERAL FARM CREDIT BANK 2,412,552.00 2,412,576.00 1.17 24.00 17,416.67 DTD 05/06/2024 4.750% 05/06/2027 100.5230 100.5240 NON CALLABLE MOODY'S RATING AA1 CUSIP 3133ERDS7 1,875,000 FEDERAL HOME LOAN BANK 1,870,050.00 1,884,675.00 0.91 14,625.00 20,286.46 DTD 04/11/2024 4.750% 04/09/2027 99.7360 100.5160 NON CALLABLE MOODY'S RATING AA1 CUSIP 3130B0TY5 PAGE 6 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,500,000 FEDERAL HOME LOAN MORTGAGE CORP 1,348,652.34 1,350,600.00 0.65 1,947.66 1,846.25 CMO SER 2020-K110 CL A2 89.9102 90.0400 DTD 06/01/2020 1.477% 04/25/2030 NON CALLABLE CUSIP 3137FTZQ3 2,000,000 FEDERAL HOME LOAN MORTGAGE CORP 1,787,343.75 1,779,620.00 0.86 7,723.75- 2,305.00 CMO SER 2020-K115 CL A2 89.3672 88.9810 DTD 09/01/2020 1.383% 06/25/2030 NON CALLABLE CUSIP 3137FWG79 1,000,000 FEDERAL HOME LOAN MORTGAGE CORP 885,820.31 886,930.00 0.43 1,109.69 1,171.67 CMO SER 2020-K117 CL A2 88.5820 88.6930 DTD 10/01/2020 1.406% 08/25/2030 NON CALLABLE CUSIP 3137FX3Q9 2,000,000 FEDERAL HOME LOAN MORTGAGE CORP 1,801,718.75 1,897,340.00 0.92 95,621.25 3,766.67 CMO SER K748 CL A2 90.0860 94.8670 DTD 03/01/2022 2.260% 01/25/2029 NON CALLABLE CUSIP 3137H5YC5 537,800.82 FHLMC MULTIFAMILY STRUCTURED P 568,787.39 536,085.24 0.26 32,702.15- 1,188.99 SER K058 CL A2 *24 DAY DELAY*105.7617 99.6810 DTD 11/01/16 2.653 08/25/2026 CUSIP 3137BSP72 1,929,399.14 FHLMC MULTIFAMILY STRUCTURED P 1,845,816.95 1,898,104.29 0.92 52,287.34 6,063.14 SER K087 CL A2 *24 DAY DELAY*95.6680 98.3780 DTD 01/01/19 3.771 12/25/2028 CUSIP 3137FKUP9 2,550,000 FHLMC MULTIFAMILY STRUCTURED P 2,465,830.08 2,502,085.50 1.21 36,255.42 7,841.25 SER K088 CL A2 *24 DAY DELAY*96.6992 98.1210 DTD 03/01/19 3.690 01/25/2029 MOODY'S RATING AAA CUSIP 3137FKZZ2 PAGE 7 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 2,500,000 FHLMC MULTIFAMILY STRUCTURED P 2,431,738.28 2,439,825.00 1.18 8,086.72 7,302.08 SER K091 CL A2 *24 DAY DELAY*97.2695 97.5930 DTD 04/01/19 3.505 03/25/2029 CUSIP 3137FLN91 2,200,000 FHLMC MULTIFAMILY STRUCTURED P 2,039,382.82 2,101,154.00 1.02 61,771.18 5,105.83 SER K095 CL A2 *24 DAY DELAY*92.6992 95.5070 DTD 08/01/19 2.785 06/25/2029 CUSIP 3137FNAE0 1,600,000 FHLMC MULTIFAMILY STRUCTURED P 1,488,375.00 1,507,808.00 0.73 19,433.00 3,233.33 SER K098 CL A2 *24 DAY DELAY*93.0235 94.2380 DTD 10/01/19 2.425 08/25/2029 CUSIP 3137FPHK4 2,000,000 FHLMC MULTIFAMILY STRUCTURED P 1,810,078.13 1,844,960.00 0.89 34,881.87 3,448.33 SER K106 CL A2 *24 DAY DELAY*90.5039 92.2480 DTD 03/01/20 2.069 01/25/2030 CUSIP 3137FRUT6 1,000,000 FHLMC MULTIFAMILY STRUCTURED P 910,937.50 903,730.00 0.44 7,207.50- 1,756.67 SER K127 CL A2 *24 DAY DELAY*91.0938 90.3730 DTD 03/01/21 2.108 01/25/2031 CUSIP 3137FXZ35 651,739.9 GM FINANCIAL SECURITIZED TERM 650,706.41 653,538.70 0.32 2,832.29 1,317.06 ASSET BCKD SEC SER 2024-1 CL A3 99.8414 100.2760 DTD 01/17/2024 4.850% 12/18/2028 CALLABLE MOODY'S RATING AAA CUSIP 36268GAD7 675,000 GOLDMAN SACHS BANK 675,000.00 675,418.50 0.33 418.50 2,444.40 DTD 06/03/2026 VAR CPN 06/03/2029 100.0000 100.0620 CALLABLE MOODY'S RATING A1 CUSIP 38151LAJ9 PAGE 8 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,025,000 GOLDMAN SACHS GROUP INC 1,025,000.00 1,010,547.50 0.49 14,452.50- 8,277.16 DTD 10/21/2025 VAR CPN 10/21/2029 100.0000 98.5900 CALLABLE MOODY'S RATING A2 CUSIP 38141GD27 1,500,000 GUARDIAN LIFE 1,500,000.00 1,475,490.00 0.71 24,510.00- 15,324.79 DTD 10/06/2025 4.327% 10/06/2030 100.0000 98.3660 NON CALLABLE 144A PRIVATE PLACEMENT MOODY'S RATING AA1 CUSIP 40139LBN2 1,205,000 GUARDIAN LIFE GLOBAL FDG 1,205,000.00 1,189,226.55 0.57 15,773.45- 13,288.64 MEDIUM TERM NOTE 100.0000 98.6910 DTD 09/26/2024 4.179% 09/26/2029 NON CALLABLE 144A PRIVATE PLACEMENT MOODY'S RATING AA1 CUSIP 40139LBJ1 1,663,000 HOME DEPOT INC 1,593,203.89 1,596,962.27 0.77 3,758.38 2,180.38 DTD 06/17/19 2.950 06/15/2029 95.8030 96.0290 MOODY'S RATING A2 CUSIP 437076BY7 1,000,000 HOME DEPOT INC 992,260.00 1,009,900.00 0.49 17,640.00 791.67 DTD 06/25/2024 4.750% 06/25/2029 99.2260 100.9900 CALLABLE MOODY'S RATING A2 CUSIP 437076DC3 332,043.3 HONDA AUTO RECEIVABLES OWNER 332,002.95 333,842.97 0.16 1,840.02 631.90 ASSET BCKD SEC SER 2024-2 CL A3 99.9879 100.5420 DTD 05/21/2024 5.270% 11/20/2028 CALLABLE CUSIP 437930AC4 PAGE 9 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 331,773.72 HONDA AUTO RECEIVABLES OWNER 332,594.99 333,814.13 0.16 1,219.14 522.54 DTD 11/08/2023 5.670% 06/21/2028 100.2476 100.6150 ASSET BCKD SEC SER 2023-4 CL A3 NON CALLABLE MOODY'S RATING AAA CUSIP 438123AC5 635,000 HYUNDAI AUTO LEASE SECURITIZAT 634,906.91 630,713.75 0.30 4,193.16- 1,120.42 ASSET BCKD SEC SER 2026-A CL A3 99.9854 99.3250 DTD 01/21/2026 3.970% 12/15/2028 CALLABLE 144A PRIVATE PLACEMENT CUSIP 448970AD5 135,797.6 HYUNDAI AUTO LEASE SECURITIZAT 135,793.82 135,952.41 0.07 158.59 326.52 ASSET BCKD SEC SER 2024-B CL A3 99.9972 100.1140 DTD 05/22/2024 5.410% 05/17/2027 CALLABLE 144A PRIVATE PLACEMENT CUSIP 44934FAD7 1,100,000 HYUNDAI CAPITAL AMERICA 1,098,909.75 1,096,238.00 0.53 2,671.75- 1,886.81 DTD 06/18/2026 4.750% 06/18/2029 99.9009 99.6580 NON CALLABLE 144A PRIVATE PLACEMENT MOODY'S RATING A3 CUSIP 44891AEN3 1,750,000 INTL BANK RECON & DEVELOPMENT 1,721,510.00 1,732,552.50 0.84 11,042.50 14,127.60 DTD 10/16/2024 3.875% 10/16/2029 98.3720 99.0030 NON CALLABLE MOODY'S RATING AAA CUSIP 459058LN1 1,700,000 INTL BK RECON & DEVELOP 1,694,220.00 1,694,883.00 0.82 663.00 19,673.96 DTD 03/20/2025 4.125% 03/20/2030 99.6600 99.6990 NON CALLABLE MOODY'S RATING AAA CUSIP 459058LR2 PAGE 10 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,000,000 JOHN DEERE CAPITAL CORP 1,006,920.00 993,960.00 0.48 12,960.00- 9,236.11 MEDIUM TERM NOTE 100.6920 99.3960 DTD 07/24/2025 4.375% 10/15/2030 NON CALLABLE MOODY'S RATING A1 CUSIP 24422EYF0 1,060,000 JOHN DEERE CAPITAL CORP 1,059,766.80 1,042,181.40 0.50 17,585.40- 13,727.00 MEDIUM TERM NOTE 99.9780 98.3190 DTD 03/10/2026 4.200% 03/10/2031 NON CALLABLE MOODY'S RATING A1 CUSIP 24422EYL7 331,331.05 JOHN DEERE OWNER TRUST 331,175.74 332,566.91 0.16 1,391.17 730.40 ASSET BCKD SEC SER 2024-A CL A3 99.9531 100.3730 DTD 03/19/2024 4.960% 11/15/2028 CALLABLE MOODY'S RATING AAA CUSIP 47800RAD5 1,500,000 JPMORGAN CHASE & CO 1,496,610.00 1,487,160.00 0.72 9,450.00- 27,669.75 DTD 07/23/18 07/23/2029 99.7740 99.1440 MOODY'S RATING A1 CUSIP 46647PAV8 1,400,000 MARSH & MCLENNAN COS INC 1,397,340.00 1,398,586.00 0.68 1,246.00 19,168.33 DTD 11/08/2024 4.650% 03/15/2030 99.8100 99.8990 CALLABLE MOODY'S RATING A3 CUSIP 571748CA8 1,000,000 MASSMUTUAL GLBL FDG II 998,670.00 992,630.00 0.48 6,040.00- 6,825.00 MEDIUM TERM NOTE 99.8670 99.2630 DTD 05/07/2025 4.550% 05/07/2030 NON CALLABLE 144A PRIVATE PLACEMENT MOODY'S RATING AA3 CUSIP 57629TBX4 PAGE 11 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,765,000 MASTERCARD INCORPORATED 1,763,588.00 1,762,281.90 0.85 1,306.10- 5,187.14 DTD 06/08/2026 4.600% 06/08/2031 99.9200 99.8460 CALLABLE MOODY'S RATING AA3 CUSIP 57636QBL7 1,045,000 MERCEDES-BENZ AUTO LEASE TRUST 1,044,828.52 1,038,500.10 0.50 6,328.42- 2,099.29 ASSET BCKD SEC SER 2025-B CL A3 99.9836 99.3780 DTD 10/22/2025 4.520% 04/16/2029 CALLABLE CUSIP 58770XAD5 570,000 MERCEDES-BENZ AUTO LEASE TRUST 569,886.97 565,514.10 0.27 4,372.87-995.60 ASSET BCKD SEC SER 2026-A CL A3 99.9802 99.2130 DTD 01/21/2026 3.930% 01/15/2030 CALLABLE MOODY'S RATING AAA CUSIP 58770YAD3 433,674.01 MERCEDES-BENZ AUTO RECEIVABLES TRUST 442,855.71 436,961.26 0.21 5,894.45- 1,146.83 ASSET BCKD SEC SER 2023-2 CL A3 102.1172 100.7580 DTD 10/25/2023 5.950% 11/15/2028 CALLABLE CUSIP 58769FAC9 1,310,000 MET TOWER GLOBAL FUNDING 1,308,310.10 1,291,712.40 0.62 16,597.70- 24,307.78 MEDIUM TERM NOTE 99.8710 98.6040 DTD 01/14/2026 4.000% 01/14/2029 NON CALLABLE 144A PRIVATE PLACEMENT MOODY'S RATING AA3 CUSIP 58989V2M5 1,500,000 META PLATFORMS INC 1,502,895.00 1,476,465.00 0.71 26,430.00- 8,050.00 DTD 11/03/2025 4.200% 11/15/2030 100.1930 98.4310 CALLABLE MOODY'S RATING AA3 CUSIP 30303MAB8 PAGE 12 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 912,000 META PLATFORMS INC 910,584.09 909,975.36 0.44 608.73- 14,814.93 DTD 08/09/2024 4.300% 08/15/2029 99.8448 99.7780 CALLABLE MOODY'S RATING AA3 CUSIP 30303M8S4 1,470,000 MORGAN STANLEY SR 1,470,184.60 1,449,934.50 0.70 20,250.10- 12,319.78 DTD 10/22/2025 VAR CPN 10/18/2029 100.0126 98.6350 MEDIUM TERM NOTE CALLABLE MOODY'S RATING A1 CUSIP 61748UAK8 1,000,000 NATIONAL RURAL UTILS COOP 1,002,873.61 1,010,540.00 0.49 7,666.39 19,800.00 MEDIUM TERM NOTE 100.2874 101.0540 DTD 02/07/2025 4.950% 02/07/2030 CALLABLE MOODY'S RATING A2 CUSIP 63743HFX5 1,000,000 NEW YORK LIFE GLOBAL FDG 994,880.00 1,012,710.00 0.49 17,830.00 3,472.22 DTD 06/06/2024 5.000% 06/06/2029 99.4880 101.2710 MEDIUM TERM NOTE NON CALLABLE 144A PRIVATE PLACEMENT MOODY'S RATING AA1 CUSIP 64952WFG3 1,365,000 NEW YORK LIFE GLOBAL FDG 1,364,221.95 1,364,276.55 0.66 54.60 4,534.83 DTD 12/05/2024 4.600% 12/05/2029 99.9430 99.9470 NON CALLABLE 144A PRIVATE PLACEMENT MOODY'S RATING AA1 CUSIP 64952WFK4 1,000,000 NORTHWESTERN MUTUAL GLBL 1,004,040.00 997,200.00 0.48 6,840.00- 3,577.78 MEDIUM TERM NOTE 100.4040 99.7200 DTD 06/03/2025 4.600% 06/03/2030 NON CALLABLE 144A PRIVATE PLACEMENT MOODY'S RATING AA1 CUSIP 66815L2W8 PAGE 13 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,020,000 NORTHWESTERN MUTUAL GLBL 1,019,908.20 1,004,047.20 0.49 15,861.00- 20,468.00 DTD 01/13/2026 4.300% 01/13/2031 99.9910 98.4360 NON CALLABLE 144A PRIVATE PLACEMENT MOODY'S RATING AA1 CUSIP 66815L2Z1 1,065,000 NVIDIA CORPORATION SR 1,062,976.50 1,061,229.90 0.51 1,746.60- 1,730.63 DTD 06/18/2026 4.500% 06/15/2031 99.8100 99.6460 CALLABLE MOODY'S RATING AA1 CUSIP 67066GAR5 1,000,000 PACIFIC LIFE GF II 1,001,380.00 987,160.00 0.48 14,220.00- 17,986.11 DTD 02/03/2026 4.375% 02/03/2031 100.1380 98.7160 NON CALLABLE 144A PRIVATE PLACEMENT MOODY'S RATING AA3 CUSIP 6944PL3M9 1,500,000 PEPSICO INC 1,497,675.00 1,504,635.00 0.73 6,960.00 30,750.00 DTD 07/17/2024 4.500% 07/17/2029 99.8450 100.3090 CALLABLE MOODY'S RATING A1 CUSIP 713448FX1 1,750,000 PRICOA GLOBAL FDG 1,749,440.00 1,720,757.50 0.83 28,682.50- 7,612.50 MEDIUM TERM NOTE 99.9680 98.3290 DTD 11/25/2025 4.350% 11/25/2030 NON CALLABLE 144A PRIVATE PLACEMENT MOODY'S RATING AA3 CUSIP 74153WCZ0 1,500,000 PROGRESSIVE CORP 1,455,495.00 1,484,505.00 0.72 29,010.00 20,000.00 DTD 10/23/18 4.000 03/01/2029 97.0330 98.9670 MOODY'S RATING A2 CUSIP 743315AV5 PAGE 14 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,500,000 PROLOGIS LP 1,481,235.00 1,496,175.00 0.72 14,940.00 27,343.75 DTD 02/01/20 4.375 02/01/2029 98.7490 99.7450 MOODY'S RATING A2 CUSIP 74340XBL4 1,463,000 REALTY INCOME CORP 1,419,212.41 1,436,168.58 0.69 16,956.17 26,984.22 DTD 01/15/2024 4.000% 07/15/2029 97.0070 98.1660 CALLABLE MOODY'S RATING A3 CUSIP 756109CB8 1,355,000 SALESFORCE INC 1,358,284.45 1,353,292.70 0.65 4,991.75- 18,292.50 DTD 03/13/2026 4.500% 03/15/2028 100.2424 99.8740 CALLABLE MOODY'S RATING A2 CUSIP 79466LAQ7 2,000,000 SIMON PROPERTY GROUP LP 1,853,380.00 1,854,660.00 0.90 1,280.00 24,438.89 DTD 07/09/20 2.650 07/15/2030 92.6690 92.7330 MOODY'S RATING A3 CUSIP 828807DK0 427,019 TOYOTA AUTO RECEIVABLES OWNER 425,284.24 428,312.87 0.21 3,028.63 979.30 ASSET BCKD SEC SER 2023-C CL A3 99.5938 100.3030 DTD 08/15/2023 5.160% 04/17/2028 CALLABLE CUSIP 89231FAD2 760,000 TOYOTA AUTO RECEIVABLES OWNER 759,839.72 755,569.20 0.37 4,270.52- 1,395.02 ASSET BCKD SEC SER 2026-B CL A3 99.9789 99.4170 DTD 04/21/2026 4.130% 12/16/2030 NON CALLABLE MOODY'S RATING AAA CUSIP 89240QAD7 1,445,000 TOYOTA MOTOR CREDIT CORP 1,441,907.70 1,461,588.60 0.71 19,680.90 34,174.25 MEDIUM TERM NOTE 99.7860 101.1480 DTD 01/09/2025 4.950% 01/09/2030 NON CALLABLE MOODY'S RATING A1 CUSIP 89236TNA9 PAGE 15 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,080,000 TOYOTA MTR CR CORP 1,079,665.20 1,060,581.60 0.51 19,083.60- 21,294.00 DTD 01/12/2026 4.200% 01/10/2031 99.9690 98.2020 NON CALLABLE MOODY'S RATING A1 CUSIP 89236TPH2 3,250,000 UNITED STATES TREASURY NOTES 3,260,312.50 3,222,732.50 1.56 37,580.00-287.02 DTD 06/30/2022 3.250% 06/30/2027 100.3173 99.1610 MOODY'S RATING AA1 CUSIP 91282CEW7 400,000 UNITED STATES TREASURY NOTES 393,218.75 394,140.00 0.19 921.25 4,588.40 DTD 07/31/2022 2.750% 07/31/2027 98.3047 98.5350 MOODY'S RATING AA1 CUSIP 91282CFB2 4,500,000 UNITED STATES TREASURY NOTES 4,468,902.34 4,448,655.00 2.15 20,247.34- 47,002.38 DTD 08/31/2022 3.125% 08/31/2027 99.3090 98.8590 MOODY'S RATING AA1 CUSIP 91282CFH9 3,450,000 UNITED STATES TREASURY NOTES 3,421,152.34 3,449,068.50 1.67 27,916.16 35,772.54 DTD 09/30/2022 4.125% 09/30/2027 99.1639 99.9730 MOODY'S RATING AA1 CUSIP 91282CFM8 850,000 UNITED STATES TREASURY NOTES 852,656.25 846,651.00 0.41 6,005.25- 2,789.79 DTD 11/30/2022 3.875% 11/30/2027 100.3125 99.6060 MOODY'S RATING AA1 CUSIP 91282CFZ9 2,750,000 UNITED STATES TREASURY NOTES 2,775,107.42 2,738,395.00 1.32 36,712.42-289.57 DTD 12/31/2022 3.875% 12/31/2027 100.9130 99.5780 MOODY'S RATING AA1 CUSIP 91282CGC9 3,000,000 UNITED STATES TREASURY NOTES 2,957,929.69 2,969,070.00 1.44 11,140.31 43,798.34 DTD 01/31/2023 3.500% 01/31/2028 98.5977 98.9690 MOODY'S RATING AA1 CUSIP 91282CGH8 PAGE 16 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 3,700,000 UNITED STATES TREASURY NOTES 3,699,113.28 3,690,158.00 1.78 8,955.28- 49,467.39 DTD 02/28/2023 4.000% 02/29/2028 99.9760 99.7340 MOODY'S RATING AA1 CUSIP 91282CGP0 4,500,000 UNITED STATES TREASURY NOTES 4,496,958.99 4,472,775.00 2.16 24,183.99- 60,163.04 DTD 02/28/2023 4.000% 02/28/2030 99.9324 99.3950 MOODY'S RATING AA1 CUSIP 91282CGQ8 5,000,000 UNITED STATES TREASURY NOTES 5,089,062.50 4,963,650.00 2.40 125,412.50- 83,425.41 DTD 07/31/2023 4.000% 07/31/2030 101.7813 99.2730 MOODY'S RATING AA1 CUSIP 91282CHR5 2,500,000 UNITED STATES TREASURY NOTES 2,525,097.66 2,505,800.00 1.21 19,297.66- 4,781.42 DTD 12/15/2023 4.375% 12/15/2026 101.0039 100.2320 MOODY'S RATING AA1 CUSIP 91282CJP7 2,300,000 UNITED STATES TREASURY NOTES 2,249,867.19 2,297,309.00 1.11 47,441.81 23,848.36 DTD 03/31/2024 4.125% 03/31/2029 97.8203 99.8830 MOODY'S RATING AA1 CUSIP 91282CKG5 2,300,000 UNITED STATES TREASURY NOTES 2,283,109.38 2,308,326.00 1.12 25,216.62 21,774.59 DTD 04/15/2024 4.500% 04/15/2027 99.2656 100.3620 MOODY'S RATING AA1 CUSIP 91282CKJ9 3,200,000 UNITED STATES TREASURY NOTES 3,186,500.00 3,210,688.00 1.55 24,188.00 18,391.30 DTD 05/15/2024 4.500% 05/15/2027 99.5781 100.3340 MOODY'S RATING AA1 CUSIP 91282CKR1 2,000,000 UNITED STATES TREASURY NOTES 1,985,546.88 2,004,540.00 0.97 18,993.12 230.98 DTD 06/30/2024 4.250% 06/30/2029 99.2774 100.2270 MOODY'S RATING AA1 CUSIP 91282CKX8 PAGE 17 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 3,500,000 UNITED STATES TREASURY NOTES 3,527,480.47 3,443,930.00 1.66 83,550.47- 42,406.59 DTD 08/31/2024 3.625% 08/31/2029 100.7852 98.3980 MOODY'S RATING AA1 CUSIP 91282CLK5 5,000,000 UNITED STATES TREASURY NOTES 4,925,039.06 4,898,450.00 2.37 26,589.06- 43,989.07 DTD 09/30/2024 3.500% 09/30/2029 98.5008 97.9690 MOODY'S RATING AA1 CUSIP 91282CLN9 3,000,000 UNITED STATES TREASURY NOTES 2,993,789.06 2,995,200.00 1.45 1,410.94 20,849.18 DTD 10/31/2024 4.125% 10/31/2029 99.7930 99.8400 MOODY'S RATING AA1 CUSIP 91282CLR0 4,400,000 UNITED STATES TREASURY NOTES 4,369,171.88 4,428,380.00 2.14 59,208.12 523.10 DTD 12/31/2024 4.375% 12/31/2029 99.2994 100.6450 MOODY'S RATING AA1 CUSIP 91282CMD0 4,000,000 UNITED STATES TREASURY NOTES 3,983,906.25 4,008,760.00 1.94 24,853.75 70,911.60 DTD 01/31/2025 4.250% 01/31/2030 99.5977 100.2190 MOODY'S RATING AA1 CUSIP 91282CMG3 5,000,000 UNITED STATES TREASURY NOTES 5,020,507.81 4,942,200.00 2.39 78,307.81-526.49 DTD 06/30/2025 3.875% 06/30/2030 100.4102 98.8440 CUSIP 91282CNK3 5,000,000 UNITED STATES TREASURY NOTES 4,991,425.79 4,891,600.00 2.36 99,825.79- 60,580.84 DTD 08/31/2025 3.625% 08/31/2030 99.8285 97.8320 MOODY'S RATING AA1 CUSIP 91282CNX5 5,000,000 UNITED STATES TREASURY NOTES 4,982,812.50 4,916,800.00 2.38 66,012.50- 49,524.46 DTD 09/15/2025 3.375% 09/15/2028 99.6563 98.3360 CUSIP 91282CNY3 PAGE 18 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 5,000,000 UNITED STATES TREASURY NOTES 5,008,789.06 4,889,850.00 2.36 118,939.06- 45,560.11 DTD 09/30/2025 3.625% 09/30/2030 100.1758 97.7970 MOODY'S RATING AA1 CUSIP 91282CPA3 1,750,000 UNITED STATES TREASURY NOTES 1,731,816.41 1,700,912.50 0.82 30,903.91- 5,187.84 DTD 11/30/2025 3.500% 11/30/2030 98.9610 97.1950 MOODY'S RATING AA1 CUSIP 91282CPN5 4,000,000 UNITED STATES TREASURY NOTES 3,966,718.75 3,933,760.00 1.90 32,958.75- 52,596.69 DTD 02/15/2026 3.500% 02/15/2029 99.1680 98.3440 MOODY'S RATING AA1 CUSIP 91282CQA2 3,500,000 UNITED STATES TREASURY NOTES 3,438,066.41 3,450,230.00 1.67 12,163.59 34,091.53 DTD 03/31/2026 3.875% 03/31/2031 98.2305 98.5780 MOODY'S RATING AA1 CUSIP 91282CQG9 2,000,000 UNITEDHEALTH GROUP INC 1,906,080.00 1,906,700.00 0.92 620.00 21,722.22 DTD 07/25/19 2.875 08/15/2029 95.3040 95.3350 MOODY'S RATING A2 CUSIP 91324PDS8 1,400,000 US TREASURY NOTE 1,379,054.68 1,389,864.00 0.67 10,809.32 3,095.79 DTD 09/30/21 0.875 09/30/2026 98.5039 99.2760 MOODY'S RATING AA1 CUSIP 91282CCZ2 1,400,000 US TREASURY NOTE 1,391,468.75 1,387,162.00 0.67 4,306.75- 2,653.53 DTD 11/01/21 1.125 10/31/2026 99.3906 99.0830 CUSIP 91282CDG3 3,000,000 US TREASURY NOTE 2,968,007.81 2,967,660.00 1.43 347.81- 25,359.12 DTD 02/15/17 2.250 02/15/2027 98.9336 98.9220 MOODY'S RATING AA1 CUSIP 912828V98 PAGE 19 STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO AS OF JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF ASSETS AND LIABILITIES COST VALUE MARKET VALUE % TOTAL UNREALIZED PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 1,345,000 VISA INC 1,343,197.70 1,330,352.95 0.64 12,844.75- 21,292.10 DTD 02/12/2026 4.100% 02/12/2031 99.8660 98.9110 CALLABLE MOODY'S RATING AA3 CUSIP 92826CAZ5 1,365,000 WELLS FARGO CARD ISSUANCE TRUST 1,364,977.34 1,365,423.15 0.66 445.81 2,632.93 ASSET BCKD SEC SER 2025-A1 CL A 99.9984 100.0310 DTD 06/10/2025 4.340% 05/15/2030 NON CALLABLE CUSIP 92970QAJ4 ====================================================================================================================================== TOTAL BOND & NOTES 206,836,562.93 206,364,701.52 99.75 471,861.41- 1,713,005.61 ====================================================================================================================================== TOTAL INVESTMENTS 207,351,902.80 206,880,041.39 100.00 471,861.41- 1,717,333.76 TOTAL ACCRUALS 1,717,333.76 1,717,333.76 ====================================================================================================================================== TOTAL ACCRUALS AND INVESTMENTS 209,069,236.56 208,597,375.15 PAGE 20 CASH SUMMARY CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ CASH SUMMARY DESCRIPTION PRINCIPAL CASH INCOME CASH ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ BEGINNING BALANCE 0.00 0.00 RECEIPTS NET INTEREST COLLECTED 0.00 771,443.52 TRANSFER RECEIPTS 771,443.52 0.00 SALES 7,195,165.54 0.00 CASH MANAGEMENT SALES 7,844,884.88 0.00 TOTAL CASH RECEIPTS 15,811,493.94 771,443.52 DISBURSEMENTS INVESTMENT MANAGEMENT EXPENSES 12,083.00-0.00 TRANSFER DISBURSEMENTS 0.00 771,443.52- PURCHASES 8,454,302.37-0.00 CASH MANAGEMENT PURCHASES 7,345,108.57-0.00 TOTAL CASH DISBURSEMENTS 15,811,493.94-771,443.52- ======================================================================================================================================== ENDING BALANCE 0.00 0.00 ________________________________________________________________________________________________________________________________________ PAGE 21 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ BEGINNING BALANCE 0.00 206,607,026.37 ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ CASH EQUIVALENTS 06/01/26 INTEREST RECEIVED 10,062.43 AS 100% TREAS MM FD-SVC CL #008 INTEREST FROM 5/1/26 THROUGH 5/31/26 06/01/26 INTEREST RECEIVED 81.29 PRINCIPAL PUBLIC DEPOSIT SWEEP PRGRM INTEREST FROM 5/1/26 TO 5/31/26 06/23/26 2,000,000- MATURED 1,976,657.85 1,976,657.85- U.S. TREASURY BILLS 6/23/26 CUSIP 912797UB1 AT $100.0000 ON TRADE DATE 06/23/2026 06/23/26 INTEREST RECEIVED 23,342.15 U.S. TREASURY BILLS 6/23/26 CUSIP 912797UB1 INTEREST ON 2,000,000.000 UNITS 2,000,000 PAR VALUE AT 100 % 06/30/26 7,345,027.28 CASH SWEEP PURCHASES FOR STMT PERIOD 7,345,027.28- 7,345,027.28 AS 100% TREAS MM FD-SVC CL #008 11 TRANSACTIONS 06/30/26 81.29 CASH SWEEP PURCHASES FOR STMT PERIOD 81.29-81.29 PRINCIPAL PUBLIC DEPOSIT SWEEP PRGRM 1 TRANSACTIONS 06/30/26 7,844,884.88- CASH SWEEP SALES FOR STMT PERIOD 7,844,884.88 7,844,884.88- AS 100% TREAS MM FD-SVC CL #008 6 TRANSACTIONS PAGE 22 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ BONDS & NOTES 06/15/26 INTEREST RECEIVED 5,064.67 AMER EXPR CREDIT ABS 4.280% 4/15/30 CUSIP 02582JKP4 $0.00357/PV ON 1,420,000.00 PV DUE 6/15/26 06/15/26 INTEREST RECEIVED 3,225.04 BANK OF AMERICA ABS 4.930% 5/15/29 CUSIP 05522RDJ4 $0.00411/PV ON 785,000.00 PV DUE 6/15/26 06/15/26 INTEREST RECEIVED 3,527.50 BK OF AMERICA ABS 4.980% 11/15/28 CUSIP 05522RDH8 $0.00415/PV ON 850,000.00 PV DUE 6/15/26 06/25/26 INTEREST RECEIVED 3,473.75 BMW VEHICLE LEA ABS 3.970% 9/25/28 CUSIP 05594HAD5 $0.00331/PV ON 1,050,000.00 PV DUE 6/25/26 06/25/26 INTEREST RECEIVED 2,024.61 BMW VEHICLE OWN ABS 5.180% 2/26/29 CUSIP 096919AD7 $0.00291/PV ON 469,022.46 PV DUE 6/25/26 06/25/26 37,527.48- PAID DOWN 37,527.48 37,521.78-5.70 BMW VEHICLE OWN ABS 5.180% 2/26/29 CUSIP 096919AD7 PAGE 23 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 06/08/26 960,000- SOLD 948,134.40 959,729.90-11,595.50- CHARLES SCHWAB CORP 2.450% 3/03/27 CUSIP 808513BY0 AT $98.7640 ON TRADE DATE 06/05/2026 TO SETTLE ON 06/08/2026 TORONTO DOMINION SECURITIES (U 06/08/26 ACCRUED INTEREST ON SALE 6,206.67 CHARLES SCHWAB CORP 2.450% 3/03/27 CUSIP 808513BY0 06/15/26 INTEREST RECEIVED 6,478.33 CHASE ISSUANCE ABS 4.600% 1/16/29 CUSIP 161571HV9 $0.00383/PV ON 1,690,000.00 PV DUE 6/15/26 06/22/26 INTEREST RECEIVED 32,250.00 CITIBANK CREDIT ABS 4.300% 6/21/30 CUSIP 17305EHA6 $0.02150/PV ON 1,500,000.00 PV DUE 6/21/26 06/25/26 INTEREST RECEIVED 3,243.75 FED HOME LN MTG CORP 2.595% 9/25/29 CUSIP 3137FPJG1 $0.00216/PV ON 1,500,000.00 PV DUE 6/25/26 06/25/26 INTEREST RECEIVED 4,870.76 FED HOME LN MTG CORP 2.982% 5/25/29 CUSIP 3137FMCR1 $0.00244/PV ON 1,960,062.68 PV DUE 6/25/26 PAGE 24 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 06/25/26 2,245.72- PAID DOWN 2,245.72 2,166.59-79.13 FED HOME LN MTG CORP 2.982% 5/25/29 CUSIP 3137FMCR1 06/25/26 INTEREST RECEIVED 3,824.29 FED HOME LN MTG CORP 3.563% 1/25/29 CUSIP 3137FL6P4 $0.00297/PV ON 1,288,000.00 PV DUE 6/25/26 06/25/26 INTEREST RECEIVED 3,448.33 FHLMC MULTIFAMILY ST 2.069% 1/25/30 CUSIP 3137FRUT6 $0.00172/PV ON 2,000,000.00 PV DUE 6/25/26 06/25/26 INTEREST RECEIVED 1,756.67 FHLMC MULTIFAMILY ST 2.108% 1/25/31 CUSIP 3137FXZ35 $0.00176/PV ON 1,000,000.00 PV DUE 6/25/26 06/25/26 INTEREST RECEIVED 3,233.33 FHLMC MULTIFAMILY ST 2.425% 8/25/29 CUSIP 3137FPHK4 $0.00202/PV ON 1,600,000.00 PV DUE 6/25/26 06/25/26 INTEREST RECEIVED 1,326.95 FHLMC MULTIFAMILY ST 2.653% 8/25/26 CUSIP 3137BSP72 $0.00204/PV ON 600,204.32 PV DUE 6/25/26 06/25/26 62,403.5- PAID DOWN 62,403.50 65,999.01-3,595.51- FHLMC MULTIFAMILY ST 2.653% 8/25/26 CUSIP 3137BSP72 PAGE 25 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 06/25/26 INTEREST RECEIVED 5,105.83 FHLMC MULTIFAMILY ST 2.785% 6/25/29 CUSIP 3137FNAE0 $0.00232/PV ON 2,200,000.00 PV DUE 6/25/26 06/25/26 INTEREST RECEIVED 7,302.08 FHLMC MULTIFAMILY ST 3.505% 3/25/29 CUSIP 3137FLN91 $0.00292/PV ON 2,500,000.00 PV DUE 6/25/26 06/25/26 INTEREST RECEIVED 7,841.25 FHLMC MULTIFAMILY ST 3.690% 1/25/29 CUSIP 3137FKZZ2 $0.00308/PV ON 2,550,000.00 PV DUE 6/25/26 06/25/26 INTEREST RECEIVED 6,070.08 FHLMC MULTIFAMILY ST 3.771% 12/25/28 CUSIP 3137FKUP9 $0.00304/PV ON 1,931,607.36 PV DUE 6/25/26 06/25/26 2,208.22- PAID DOWN 2,208.22 2,112.56-95.66 FHLMC MULTIFAMILY ST 3.771% 12/25/28 CUSIP 3137FKUP9 06/25/26 INTEREST RECEIVED 1,846.25 FHLMC SER K110 CMO 1.477% 4/25/30 CUSIP 3137FTZQ3 $0.00123/PV ON 1,500,000.00 PV DUE 6/25/26 06/25/26 INTEREST RECEIVED 2,305.00 FHLMC SER K115 CMO 1.383% 6/25/30 CUSIP 3137FWG79 $0.00115/PV ON 2,000,000.00 PV DUE 6/25/26 PAGE 26 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 06/08/26 1,000,000 PURCHASED 885,820.31-885,820.31 FHLMC SER K117 CMO 1.406% 8/25/30 CUSIP 3137FX3Q9 AT $88.5820 ON TRADE DATE 06/03/2026 TO SETTLE ON 06/08/2026 MORGAN STANLEY & CO. 06/08/26 ACCRUED INTEREST ON PURCHASE 273.39- FHLMC SER K117 CMO 1.406% 8/25/30 CUSIP 3137FX3Q9 06/25/26 INTEREST RECEIVED 3,766.67 FHLMC SER K748 CMO 2.260% 1/25/29 CUSIP 3137H5YC5 $0.00188/PV ON 2,000,000.00 PV DUE 6/25/26 06/16/26 INTEREST RECEIVED 2,898.53 GM FINANCIAL ABS 4.850% 12/18/28 CUSIP 36268GAD7 $0.00221/PV ON 717,162.43 PV DUE 6/16/26 06/16/26 65,422.53- PAID DOWN 65,422.53 65,318.79-103.74 GM FINANCIAL ABS 4.850% 12/18/28 CUSIP 36268GAD7 06/03/26 675,000 PURCHASED 675,000.00-675,000.00 GOLDMAN SACHS BK V-D 4.656% 6/03/29 CUSIP 38151LAJ9 AT $100.0000 ON TRADE DATE 05/27/2026 TO SETTLE ON 06/03/2026 GOLDMAN SACHS 06/15/26 INTEREST RECEIVED 24,529.25 HOME DEPOT INC 2.950% 6/15/29 CUSIP 437076BY7 INTEREST ON 1,663,000.000 UNITS PAGE 27 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 06/25/26 INTEREST RECEIVED 23,750.00 HOME DEPOT INC 4.750% 6/25/29 CUSIP 437076DC3 INTEREST ON 1,000,000.000 UNITS 06/18/26 INTEREST RECEIVED 1,581.96 HONDA AUTO RECE ABS 5.270% 11/20/28 CUSIP 437930AC4 $0.00296/PV ON 360,217.86 PV DUE 6/18/26 06/18/26 28,174.56- PAID DOWN 28,174.56 28,171.14-3.42 HONDA AUTO RECE ABS 5.270% 11/20/28 CUSIP 437930AC4 06/22/26 INTEREST RECEIVED 1,734.58 HONDA AUTO RECE ABS 5.670% 6/21/28 CUSIP 438123AC5 $0.00215/PV ON 367,107.02 PV DUE 6/21/26 06/22/26 35,333.3- PAID DOWN 35,333.30 35,420.76-87.46- HONDA AUTO RECE ABS 5.670% 6/21/28 CUSIP 438123AC5 TO SETTLE ON 06/22/2026 06/15/26 INTEREST RECEIVED 2,100.79 HYUNDAI AUTO ABS 3.970% 12/15/28 CUSIP 448970AD5 $0.00331/PV ON 635,000.00 PV DUE 6/15/26 06/15/26 INTEREST RECEIVED 941.99 HYUNDAI AUTO ABS 5.410% 5/17/27 CUSIP 44934FAD7 $0.00154/PV ON 208,943.15 PV DUE 6/15/26 PAGE 28 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 06/15/26 73,145.55- PAID DOWN 73,145.55 73,143.52-2.03 HYUNDAI AUTO ABS 5.410% 5/17/27 CUSIP 44934FAD7 06/18/26 545,000 PURCHASED 544,831.05-544,831.05 HYUNDAI CAPITAL AMER 4.750% 6/18/29 CUSIP 44891AEN3 AT $99.9690 ON TRADE DATE 06/15/2026 TO SETTLE ON 06/18/2026 STIFEL NICOLAUS & CO., INC. 06/18/26 555,000 PURCHASED 554,078.70-554,078.70 HYUNDAI CAPITAL AMER 4.750% 6/18/29 CUSIP 44891AEN3 AT $99.8340 ON TRADE DATE 06/15/2026 TO SETTLE ON 06/18/2026 PERSHING LLC 06/12/26 0.01 SHARE ADJUSTMENT JOHN DEERE OWNE ABS 5.090% 6/15/27 CUSIP 47800BAC2 06/15/26 INTEREST RECEIVED 124.97 JOHN DEERE OWNE ABS 5.090% 6/15/27 CUSIP 47800BAC2 $0.00012/PV ON 29,462.25 PV DUE 6/15/26 06/15/26 29,462.25- PAID DOWN 29,462.25 29,459.95-2.30 JOHN DEERE OWNE ABS 5.090% 6/15/27 CUSIP 47800BAC2 06/15/26 INTEREST RECEIVED 1,445.12 JOHN DEERE OWNER ABS 4.960% 11/15/28 CUSIP 47800RAD5 $0.00289/PV ON 349,626.44 PV DUE 6/15/26 PAGE 29 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 06/15/26 18,295.39- PAID DOWN 18,295.39 18,286.81-8.58 JOHN DEERE OWNER ABS 4.960% 11/15/28 CUSIP 47800RAD5 06/08/26 1,765,000 PURCHASED 1,763,588.00- 1,763,588.00 MASTERCARD INCORPOR 4.600% 6/08/31 CUSIP 57636QBL7 AT $99.9200 ON TRADE DATE 06/04/2026 TO SETTLE ON 06/08/2026 J.P. MORGAN SECURITIES INC., - 06/15/26 INTEREST RECEIVED 1,866.75 MERCEDES-BENZ ABS 3.930% 1/15/30 CUSIP 58770YAD3 $0.00328/PV ON 570,000.00 PV DUE 6/15/26 06/15/26 INTEREST RECEIVED 3,378.83 MERCEDES-BENZ ABS 4.520% 4/16/29 CUSIP 58770XAD5 $0.00323/PV ON 1,045,000.00 PV DUE 6/15/26 06/15/26 INTEREST RECEIVED 2,359.72 MERCEDES-BENZ ABS 5.950% 11/15/28 CUSIP 58769FAC9 $0.00215/PV ON 475,909.88 PV DUE 6/15/26 06/15/26 42,235.87- PAID DOWN 42,235.87 43,130.08-894.21- MERCEDES-BENZ ABS 5.950% 11/15/28 CUSIP 58769FAC9 06/04/26 1,950,000- SOLD 1,960,959.00 1,950,000.00-10,959.00 MORGAN STANLEY V-D 4.968% 7/14/28 CUSIP 61690U8E3 AT $100.5620 ON TRADE DATE 06/03/2026 TO SETTLE ON 06/04/2026 MERRILL LYNCH,PIERCE,FENNER PAGE 30 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 06/04/26 ACCRUED INTEREST ON SALE 37,674.00 MORGAN STANLEY V-D 4.968% 7/14/28 CUSIP 61690U8E3 06/05/26 INTEREST RECEIVED 31,395.00 NEW YORK LIFE GL FDG 4.600% 12/05/29 CUSIP 64952WFK4 INTEREST ON 1,365,000.000 UNITS 06/08/26 INTEREST RECEIVED 25,000.00 NEW YORK LIFE MTN 5.000% 6/06/29 CUSIP 64952WFG3 INTEREST ON 1,000,000.000 UNITS 06/18/26 1,065,000 PURCHASED 1,062,976.50- 1,062,976.50 NVIDIA CORPORATION 4.500% 6/15/31 CUSIP 67066GAR5 AT $99.8100 ON TRADE DATE 06/15/2026 TO SETTLE ON 06/18/2026 GOLDMAN SACHS 06/03/26 INTEREST RECEIVED 23,000.00 NW MUTUAL GLOBAL MTN 4.600% 6/03/30 CUSIP 66815L2W8 INTEREST ON 1,000,000.000 UNITS 06/17/26 1,865,000- SOLD 1,854,145.70 1,863,955.60-9,809.90- PACCAR FINANCIAL MTN 4.000% 11/07/28 CUSIP 69371RU20 AT $99.4180 ON TRADE DATE 06/16/2026 TO SETTLE ON 06/17/2026 J.P. MORGAN SECURITIES INC., - 06/17/26 ACCRUED INTEREST ON SALE 8,288.89 PACCAR FINANCIAL MTN 4.000% 11/07/28 CUSIP 69371RU20 PAGE 31 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 06/15/26 INTEREST RECEIVED 2,615.67 TOYOTA AUTO REC ABS 4.130% 12/16/30 CUSIP 89240QAD7 $0.00344/PV ON 760,000.00 PV DUE 6/15/26 06/15/26 INTEREST RECEIVED 2,089.08 TOYOTA AUTO REC ABS 5.160% 4/17/28 CUSIP 89231FAD2 $0.00161/PV ON 485,833.22 PV DUE 6/15/26 06/15/26 58,814.22- PAID DOWN 58,814.22 58,575.29-238.93 TOYOTA AUTO REC ABS 5.160% 4/17/28 CUSIP 89231FAD2 06/30/26 INTEREST RECEIVED 52,812.50 U.S. TREASURY NOTES 3.250% 6/30/27 CUSIP 91282CEW7 INTEREST ON 3,250,000.000 UNITS 06/01/26 INTEREST RECEIVED 30,625.00 U.S. TREASURY NOTES 3.500% 11/30/30 CUSIP 91282CPN5 INTEREST ON 1,750,000.000 UNITS 06/30/26 INTEREST RECEIVED 96,875.00 U.S. TREASURY NOTES 3.875% 6/30/30 CUSIP 91282CNK3 INTEREST ON 5,000,000.000 UNITS 06/01/26 INTEREST RECEIVED 16,468.75 U.S. TREASURY NOTES 3.875% 11/30/27 CUSIP 91282CFZ9 INTEREST ON 850,000.000 UNITS PAGE 32 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 06/30/26 INTEREST RECEIVED 53,281.25 U.S. TREASURY NOTES 3.875% 12/31/27 CUSIP 91282CGC9 INTEREST ON 2,750,000.000 UNITS 06/30/26 INTEREST RECEIVED 42,500.00 U.S. TREASURY NOTES 4.250% 6/30/29 CUSIP 91282CKX8 INTEREST ON 2,000,000.000 UNITS 06/15/26 INTEREST RECEIVED 54,687.50 U.S. TREASURY NOTES 4.375% 12/15/26 CUSIP 91282CJP7 INTEREST ON 2,500,000.000 UNITS 06/30/26 INTEREST RECEIVED 96,250.00 U.S. TREASURY NOTES 4.375% 12/31/29 CUSIP 91282CMD0 INTEREST ON 4,400,000.000 UNITS 06/30/26 3,000,000 PURCHASED 2,968,007.81- 2,968,007.81 US TREASURY NOTE 2.250% 2/15/27 CUSIP 912828V98 AT $98.9336 ON TRADE DATE 06/29/2026 TO SETTLE ON 06/30/2026 MERRILL LYNCH,PIERCE,FENNER 06/30/26 ACCRUED INTEREST ON PURCHASE 25,172.65- US TREASURY NOTE 2.250% 2/15/27 CUSIP 912828V98 06/15/26 INTEREST RECEIVED 4,936.75 WELLS FARGO CARD ABS 4.340% 5/15/30 CUSIP 92970QAJ4 $0.00362/PV ON 1,365,000.00 PV DUE 6/15/26 PAGE 33 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ TRANSFER RECEIPTS 06/01/26 ADDITION TO ACCOUNT 57,237.47 TRANSFER FROM INCOME 06/03/26 ADDITION TO ACCOUNT 23,000.00 TRANSFER FROM INCOME 06/04/26 ADDITION TO ACCOUNT 37,674.00 TRANSFER FROM INCOME 06/05/26 ADDITION TO ACCOUNT 31,395.00 TRANSFER FROM INCOME 06/08/26 ADDITION TO ACCOUNT 30,933.28 TRANSFER FROM INCOME 06/15/26 ADDITION TO ACCOUNT 119,371.96 TRANSFER FROM INCOME 06/16/26 ADDITION TO ACCOUNT 2,898.53 TRANSFER FROM INCOME 06/17/26 ADDITION TO ACCOUNT 8,288.89 TRANSFER FROM INCOME 06/18/26 ADDITION TO ACCOUNT 1,581.96 TRANSFER FROM INCOME 06/22/26 ADDITION TO ACCOUNT 32,250.00 TRANSFER FROM INCOME 06/23/26 ADDITION TO ACCOUNT 25,076.73 TRANSFER FROM INCOME PAGE 34 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 06/25/26 ADDITION TO ACCOUNT 85,189.60 TRANSFER FROM INCOME 06/30/26 ADDITION TO ACCOUNT 316,546.10 TRANSFER FROM INCOME INVESTMENT MANAGEMENT EXPENSES 06/09/26 INVESTMENT MGMT FEE 12,083.00- PAID TO CHANDLER ASSET MANAGEMENT INC INV 2605CUPERTIN CUPERTIN 05/26 CITY OF CUPERTINO FOR PERIOD 5/1/2026 - 5/31/2026 TRANSFER DISBURSEMENTS 06/01/26 TRANSFER TO PRINCIPAL 57,237.47- 06/03/26 TRANSFER TO PRINCIPAL 23,000.00- 06/04/26 TRANSFER TO PRINCIPAL 37,674.00- 06/05/26 TRANSFER TO PRINCIPAL 31,395.00- 06/08/26 TRANSFER TO PRINCIPAL 30,933.28- 06/15/26 TRANSFER TO PRINCIPAL 119,371.96- 06/16/26 TRANSFER TO PRINCIPAL 2,898.53- 06/17/26 TRANSFER TO PRINCIPAL 8,288.89- 06/18/26 TRANSFER TO PRINCIPAL 1,581.96- 06/22/26 TRANSFER TO PRINCIPAL 32,250.00- INVESTMENT AND INSURANCE PRODUCTS ARE:·NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) OR ANY FEDERAL GOVERNMENT AGENCY·NOT A DEPOSIT, OBLIGATION OF, OR GUARANTEED BY ANY BANK OR BANKING AFFILIATE·SUBJECT TO INVESTMENT RISKS AND MAY LOSE VALUE, INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED PAGE 35 STATEMENT OF TRANSACTIONS CITY OF CUPERTINO FOR THE PERIOD JUNE 1, 2026 THROUGH JUNE 30, 2026 ACCOUNT NUMBER ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯ STATEMENT OF TRANSACTIONS REALIZED DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ 06/23/26 TRANSFER TO PRINCIPAL 25,076.73- 06/25/26 TRANSFER TO PRINCIPAL 85,189.60- 06/30/26 TRANSFER TO PRINCIPAL 316,546.10- ================================================================================================================= ENDING BALANCE 0.00 207,351,902.80 ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ CITY OF CUPERTINO PARS Post-Employment Benefits Trust 6/1/2026 to 6/30/2026 Jonathan Orozco Acting Director of Administrative Services City of Cupertino 10300 Torre Ave. Cupertino, CA 95014 Account Summary Source 6/1/2026 Contributions Earnings Expenses Distributions Transfers 6/30/2026 OPEB 1001 $49,980,985.72 $0.00 $88,287.96 $12,506.32 $0.00 $0.00 $50,056,767.36 PENSION 1002 $28,452,982.97 $0.00 $53,640.10 $7,088.99 $0.00 $0.00 $28,499,534.08 Totals $78,433,968.69 $0.00 $141,928.06 $19,595.31 $0.00 $0.00 $78,556,301.44 Investment Selection Source OPEB PENSION Investment Objective Source OPEB PENSION Investment Return Source 1-Month 3-Months 1-Year 3-Years 5-Years 10-Years OPEB 0.18%10.05%17.49%14.72%6.77%8.94%6/21/2010 PENSION 0.19%10.16%17.54%14.66%6.74%-3/26/2019 Information as provided by US Bank, Trustee for PARS; Not FDIC Insured; No Bank Guarantee; May Lose Value Headquarters - 4350 Von Karman Ave., Suite 100, Newport Beach, CA 92660 800.540.6369 Fax 949.250.1250 www.pars.org Account balances are inclusive of Trust Administration, Trustee and Investment Management fees Annualized Return Investment Return: Annualized rate of return is the return on an investment over a period other than one year multiplied or divided to give a comparable one-year return. Past performance does not guarantee future results. Performance returns may not reflect the deduction of applicable fees, which could reduce returns. Information is deemed reliable but may be subject to change. Individual account based on US Bank Balanced MM. Dual goals are to provide a moderate amount of current income with moderate capital growth. Income production and longer term growth of capital. Account Report for the Period Balance as of City of Cupertino - OPEB Balance as of Individual account based on US Bank Balanced MM. Dual goals are to provide a moderate amount of current income with moderate capital growth. Income production and longer term growth of capital. City of Cupertino - PEN Plan's Inception Date Statement CalFIT Jun 30, 2026Jun 01, 2026 - Monthly Statement Cupertino; City of CalFIT| www.calfitfund.com | info@calfitfund.com | 844-915-5700 1 Contact Information Statement Date: Participant Contact 06/30/2026 CUPERTINO; CITY OF 10300 Torre Avenue, Cupertino,CA 95014 jonathano@cupertino.gov CalFIT Staff Contacts CalFIT Administrator Chandler Asset Management, Inc. 9255 Towne Centre Drive, Ste. 600 San Diego, CA 92121 Carlos Oblites Senior Portfolio and Investment Pool Strategist Mobile: 858-869-5063 coblites@chandlerasset.com Mia Corral Brown Regional Director Mobile: 858-226-1504 mcorral@chandlerasset.com Chandler Distribution Services, LLC 9255 Towne Centre Drive, Ste. 600 San Diego, CA 92121 Distributor Investment Advisor and Administrator Monthly Statement Cupertino; City of CalFIT| www.calfitfund.com | info@calfitfund.com | 844-915-5700 2 Account Summary Month End Balance Statement Date:06/30/2026 Stable NAV Pool $14,468,801.25 Total $14,468,801.25 Total $14,468,801.25 Monthly Statement Cupertino; City of CalFIT| www.calfitfund.com | info@calfitfund.com | 844-915-5700 3 Monthly Statement Cupertino; City of Statement Date:06/30/2026Stable NAV Pool Capital Share Activity Summary Beginning balance $12,930,188.49 Redemptions $3,000,000.00 Purchases $4,500,000.00 Dividends $38,612.76 Ending balance $14,468,801.25 30-Day SEC Yield Share Price $1.00 50022-101 3.78% Capital Share Transactions Trade Date Settle Date Description Share PriceAmount 06/17/2026 06/17/2026 Redemption $3,000,000.00 $1.000 06/25/2026 06/25/2026 Additional Subscription $4,500,000.00 $1.000 06/30/2026 06/30/2026 Income Reinvestment $38,612.76 $1.000 CalFIT| www.calfitfund.com | info@calfitfund.com | 844-915-5700 4 Disclaimers Statement Date:06/30/2026 Chandler Asset Management, Inc. (“Chandler”) is an SEC registered investment adviser which serves as the investment advisor and operational manager of CalFIT. For additional information about our firm, please see our current disclosures (Form ADV). To obtain a copy of our current disclosures, you may contact your client service representative by calling the number on the front of this statement or you may visit our website at www.chandlerasset.com. The information contained in this monthly statement is confidential and is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of this statement, but may become outdated or superseded at any time without notice This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the investment objectives, risks, charges and expenses before investing in the CalFIT portfolio. This and other information about the CalFIT portfolio is available in the current Information Statement, which should be read carefully before investing. A copy of the Information Statement may be obtained on the CalFIT website at www.calfitfund.com. The CalFIT portfolio will invest solely in Permitted Investments (defined in the Information Statement) in such a manner as to result in an average dollar weighted maturity to reset for the portfolio of no greater than sixty (60) days and an average dollar weighted maturity to final for the portfolio of no greater than ninety (90) days (with certain extensions). The permitted investments in which the CalFIT portfolio invests consist of money market instruments having a maximum maturity of 397 days except for certain floating rate government securities. While the CalFIT portfolio seeks to maintain a stable net asset value of $1.00 per it is possible to lose money investing in the portfolio. Custody The CalFIT custodian or safekeeping bank maintains control of all assets reflected in this statement. Valuation Market values are provided by ICE Data Services, an independent pricing source. In the event ICE does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third-party pricing source in accordance with our written valuation policy and procedures. However, Chandler cannot guarantee the accuracy of the prices. This data is provided for informational purposes only. Listed values should not be interpreted as an offer to buy or sell at a specific price. Certificates of deposit and commercial paper are listed at their original cost. Redemption of a certificate of deposit prior to maturity may result in early withdrawal penalties. Error Corrections PLEASE ADVISE CHANDLER ASSET MANAGEMENT, INC. IMMEDIATELY OF ANY INACCURACY OR DISCREPANCY ON YOUR STATEMENT. FOR A CHANGE OF ADDRESS OR QUESTIONS REGARDING YOUR ACCOUNT, PLEASE NOTIFY YOUR CalFIT REPRESENTATIVE. ANY ORAL COMMUNICATIONS SHOULD BE RE-CONFIRMED IN WRITING Contact Information California Fixed Income Trust (CalFIT) Chandler Asset Management, Inc. 9255 Towne Centre Drive, Ste. 600 San Diego, CA 92121 Distribution Shares of the CalFIT are distributed exclusively by Chandler’s affiliate Chandler Distribution Services, LLC ("CDS"), a registered broker-dealer. This affiliation may create a potential conflict of interest as CDS may market or distribute interests in certain local government investment pools to which Chandler also acts as the investment advisor. Chandler has policies and procedures in place to mitigate potential conflicts and ensure that all transactions are conducted in the best interests of its clients. Clients are not obligated to use CDS for brokerage services. For additional information regarding this affiliation and how it may impact your investments, please refer to Chandler’s Form ADV Part 2A. No Insurance or Guarantee An investment in the CalFIT portfolio is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency or CalFIT. Monthly Statement Cupertino; City of CalFIT| www.calfitfund.com | info@calfitfund.com | 844-915-5700 5