Investment Report for the Quarter Ending December 31, 2024

Investment Performance Review
For the Quarter Ended December 31, 2024
Client Management Team
PFM Asset Management
A division of U.S. Bancorp Asset Management, Inc
213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
1101 W. Washington Street
Tempe, AZ 85288
480-271-0432
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public
Luke Schneider, CFA, Managing Director
Annette Gaston, Director
CITY OF CHANDLER
HEALTH CARE BENEFITS TRUST

PFM Asset Management  |  pfmam.com
•
Account Summary
•
Portfolio Review
1

Account Summary
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2

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CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Account Summary
Account Summary
Yield at market, yield on cost, and portfolio duration only include investments held within the separately managed account(s), excludes balances invested in overnight funds.
1.
CHANDLER HEALTH CARE BENEFITS TRUST
Portfolio Values
December 31, 2024
PFMAM Managed Account
$21,081,689
Amortized Cost
$21,102,026
Market Value
$21,081,689
Accrued Interest
$205,155
Cash
$102,943
Analytics¹
December 31, 2024
Yield at Market
4.34%
Yield on Cost
4.24%
Portfolio Duration
1.70
3

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CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Account Summary
Portfolio Allocation
Sector Limit for Analysis*
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest.
*Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided.
<0.1%
13.2%
0.4%
6.0%
80.5%
0.0%
10.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
**First American Funds - $10
Corporate - $2,800,060
Municipal - $88,647
Federal Agency - $1,267,830
U.S. Treasury - $17,130,307
20.0% 
30.0%
Sector Allocation Analytics
4

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CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Summary
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,
excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balances
invested in overnight funds.
Issuer Diversification
Market Value (%) S&P / Moody's / Fitch
Security Type / Issuer
U.S. Treasury
80.5%
United States Treasury
80.5%
AA / Aaa / AA
Federal Agency
6.0%
Federal Home Loan Banks
4.2%
AA / Aaa / NR
Federal National Mortgage Association
1.8%
AA / Aaa / AA
Municipal
0.4%
City of Scottsdale AZ
0.4%
AAA / Aaa / AAA
Corporate
13.2%
Amazon.com Inc
0.5%
AA / A / AA
Apple Inc
1.2%
AA / Aaa / NR
Bank of America Corp
0.7%
A / Aa / AA
Bank of New York Mellon Corp
1.6%
A / Aa / AA
BlackRock Inc
0.5%
AA / Aa / NR
Caterpillar Inc
0.8%
A / A / A
Charles Schwab Corp
0.5%
A / A / A
Intel Corp
0.7%
BBB / Baa / BBB
JPMorgan Chase & Co
1.0%
A / A / AA
Mastercard Inc
0.4%
A / Aa / NR
Microsoft Corp
1.2%
AAA / Aaa / NR
Novartis AG
1.1%
AA / Aa / AA
PepsiCo Inc
0.7%
A / A / NR
Toyota Motor Corp
0.7%
A / A / A
Walmart Inc
1.5%
AA / Aa / AA
100.0%
Total
5

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Portfolio Review:
CHANDLER HEALTH CARE BENEFITS TRUST
6

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CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Snapshot
Portfolio Snapshot - CHANDLER HEALTH CARE BENEFITS TRUST¹
Credit Quality - S&P2
38%
23%
34%
5%
8%
59%
33%
0%
20%
40%
60%
0-1 Yr
1-2 Yrs
2-3 Yrs
3-4 Yrs
Portfolio
Benchmark3
Duration Distribution
U.S. Treasury | 81%
Corporate | 13%
Federal Agency | 6%
Municipal | <1%
Sector Allocation
AAA | 2%
AA+ | 88%
AA | 2%
AA- | 2%
A+ | 2%
A | 3%
A- | 1%
BBB | 1%
Portfolio Statistics
Portfolio Effective Duration
Benchmark Effective Duration
Portfolio Credit Quality
Yield At Market
Yield At Cost
Total Market Value
Securities Sub-Total
Cash
$21,389,786.95
$21,081,689.07
$205,155.23
$102,942.65 
1.70 years 
1.74 years 
4.24%
4.34%
AA
Accrued Interest
1. Total market value includes accrued interest and balances invested in PFMAM, as of December 31, 2024.Yield and duration calculations exclude balances invested in PFMAM.
2. An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.
3. The portfolio’s benchmark is currently the ICE BofA 1-3 Year U.S Treasury Index. Prior to 3/31/17 it was the ICE BofA 0-3 Year U.S Treasury Index. Prior to 9/30/12 it was the ICE BofA 0-6
Month U.S Treasury Index. Source: Bloomberg Finance LP.
7

Liquidity Vehicle
Quarter-End Yield
Allspring Treasury Plus Money 
Market A Fund1
First American Funds2
1.
Allspring Treasury Plus Money Market A Fund ticker symbol PISXX. Account yield is the 30-day current yield from Fund website as of 12/31/2024.
2.
First American Funds ticker symbol FGZXX; Account yield is the Net Annualized Monthly Average Yield as of December 2024. For U.S. Treasury, Treasury Obligations and Government Obligations –
You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not
insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should
not expect that the sponsor will provide financial support to the Fund at any time.
CITY OF CHANDLER
For the Quarter Ended December 31, 2024 
Portfolio Snapshot
4.40%
4.43%
PFM Asset Management  |  pfmam.com
8

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CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Characteristics
$0.0
$4.4
$8.8
$13.2
$17.6
$22.0
Millions
December 2024
$0.0
$4.4
$8.8
$13.2
$17.6
$22.0
Millions
September 2024
$0.0
$4.4
$8.8
$13.2
$17.6
$22.0
Millions
June 2024
$0.0
$4.4
$8.8
$13.2
$17.6
$22.0
Millions
March 2024
Sector Allocation Review - CHANDLER HEALTH CARE BENEFITS TRUST
U.S. Treasury
Federal Agency
Municipal
Negotiable CD
Corporate
Market values, excluding accrued interest. Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. Detail may not add to total due to rounding.
Mar-24
% of Total
Security Type
Jun-24
% of Total
Sep-24
% of Total
% of Total
Dec-24
U.S. Treasury
$16.8
81.3%
$17.6
83.3%
$17.0
80.4%
$17.0
80.5%
Federal Agency
$1.2
6.0%
$1.2
5.8%
$1.2
5.9%
$1.2
5.9%
Municipal
$0.1
0.4%
$0.1
0.4%
$0.1
0.4%
$0.1
0.4%
Negotiable CD
$0.2
1.2%
$0.2
1.2%
$0.0
0.0%
$0.0
0.0%
Corporate
$2.3
11.1%
$2.0
9.3%
$2.8
13.3%
$2.8
13.2%
Total
$20.7
100.0%
$21.1
100.0%
$21.2
100.0%
$21.1
100.0%
9

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CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Activity
Portfolio Activity - CHANDLER HEALTH CARE BENEFITS TRUST
Net Activity by Sector
($ millions)
Corporate
U.S. Treasury
Corporate
U.S. Treasury
($2.0)
($1.0)
$0.0
$1.0
$2.0
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.
Sector
Net Activity
U.S. Treasury
$87,532
Corporate
($35,000)
$52,532
Total Net Activity
Sales/Maturities 
 Purchases
10

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CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Performance
The lesser of 10 years or since inception is shown. Performance inception date is December 31, 2010.
1.
Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.
2.
Realized gains / (losses) are shown on an amortized cost basis.
3.
Accrual Basis Earnings - CHANDLER HEALTH CARE BENEFITS TRUST
Accrual Basis Earnings
Interest Earned²
Realized Gains / (Losses)³
Change in Amortized Cost
Total Earnings
3 Months
$189,599
($8,618)
$33,412
$214,393
1 Year
$709,927
($35,530)
$126,938
$801,335
3 Years
$1,430,250
($47,800)
$175,228
$1,557,678
5 Year
$1,920,035
$164,856
$135,962
$2,220,852
10 Year¹
$2,715,546
$77,376
$149,165
$2,942,087
11

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CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Performance
The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is December 31, 2010.
1.
Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.
2.
Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.
3.
The portfolio’s benchmark is currently the ICE BofA 1-3 Year U.S Treasury Index. Prior to 3/31/17 it was the ICE BofA 0-3 Year U.S Treasury Index. Prior to 9/30/12 it was the ICE BofA 0-6 Month U.S
Treasury Index. Source: Bloomberg Financial LP.
4.
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
Return
Portfolio
Benchmark
Portfolio Performance
Market Value Basis Earnings
3 Months
1 Year
3 Years
5 Years
10 Years1
Interest Earned²
$189,599
$709,927
$1,430,250
$1,920,035
$2,715,546
Change in Market Value
($193,313)
$201,898
$123,678
$143,500
$205,942
($3,714)
Total Dollar Return
$911,825
$1,553,928
$2,063,535
$2,921,488
Total Return³
Portfolio
-0.02%
4.37%
2.55%
2.11%
1.84%
Benchmark⁴
-0.06%
4.08%
1.50%
1.40%
1.37%
3 Months
1 Year
3 Years
5 Years
10 Years
12

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CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Composition
Issuer Distribution
As of December 31, 2024
Issuer
Market Value ($)
% of Portfolio
UNITED STATES TREASURY
16,971,389
80.51 %
FEDERAL HOME LOAN BANKS
874,297
4.16 %
FEDERAL NATIONAL MORTGAGE ASSOCIATION
374,158
1.77 %
BANK OF NEW YORK MELLON CORP
331,317
1.57 %
WALMART INC
321,624
1.53 %
APPLE INC
263,818
1.25 %
MICROSOFT CORP
262,235
1.24 %
NOVARTIS AG
227,084
1.08 %
JPMORGAN CHASE & CO
217,709
1.03 %
CATERPILLAR INC
169,328
0.80 %
PEPSICO INC
154,169
0.73 %
INTEL CORP
148,998
0.71 %
BANK OF AMERICA CORP
136,777
0.65 %
TOYOTA MOTOR CORP
135,901
0.64 %
CHARLES SCHWAB CORP
114,568
0.54 %
BLACKROCK INC
105,256
0.50 %
AMAZON.COM INC
95,674
0.45 %
MASTERCARD INC
89,015
0.42 %
CITY OF SCOTTSDALE AZ
88,374
0.42 %
21,081,689
Grand Total
100.00 %
13

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Holdings
Managed Account Detail of Securities Held
Security Type/Description
Dated Date/Coupon/Maturity
CUSIP
Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/B
DTD 08/15/2022 3.125% 08/15/2025
91282CFE6
135,000.00
AA+
Aaa
9/29/2022
9/29/2022
130,923.63
4.25
1,593.50
134,063.50
134,123.44
US TREASURY N/B
DTD 08/15/2022 3.125% 08/15/2025
91282CFE6
100,000.00
AA+
Aaa
9/12/2022
9/12/2022
98,765.63
3.57
1,180.37
99,306.30
99,738.79
US TREASURY N/B
DTD 08/17/2015 2.000% 08/15/2025
912828K74
2,375,000.00
AA+
Aaa
2/7/2023
2/8/2023
2,249,663.09
4.23
17,941.58
2,342,027.88
2,344,177.21
US TREASURY N/B
DTD 11/15/2022 4.500% 11/15/2025
91282CFW6
125,000.00
AA+
Aaa
12/1/2022
12/2/2022
126,665.04
4.02
730.32
125,231.50
125,490.72
US TREASURY N/B
DTD 11/15/2022 4.500% 11/15/2025
91282CFW6
270,000.00
AA+
Aaa
12/12/2022 12/13/2022
272,562.89
4.15
1,577.49
270,500.04
270,763.11
US TREASURY N/B
DTD 11/15/2022 4.500% 11/15/2025
91282CFW6
105,000.00
AA+
Aaa
11/29/2022 11/30/2022
105,750.59
4.24
613.47
105,194.46
105,220.80
US TREASURY N/B
DTD 12/15/2022 4.000% 12/15/2025
91282CGA3
270,000.00
AA+
Aaa
1/3/2023
1/4/2023
268,565.63
4.19
504.40
269,540.19
269,536.10
US TREASURY N/B
DTD 01/17/2023 3.875% 01/15/2026
91282CGE5
2,280,000.00
AA+
Aaa
2/7/2023
2/8/2023
2,266,017.19
4.10
40,813.86
2,272,357.44
2,275,056.45
US TREASURY N/B
DTD 02/15/2023 4.000% 02/15/2026
91282CGL9
110,000.00
AA+
Aaa
4/19/2023
4/20/2023
109,918.36
4.03
1,661.96
109,707.84
109,967.57
US TREASURY N/B
DTD 04/17/2023 3.750% 04/15/2026
91282CGV7
147,000.00
AA+
Aaa
5/1/2023
5/1/2023
146,643.98
3.84
1,181.25
146,064.05
146,845.40
US TREASURY N/B
DTD 04/17/2023 3.750% 04/15/2026
91282CGV7
185,000.00
AA+
Aaa
5/12/2023
5/15/2023
185,317.97
3.69
1,486.61
183,822.11
185,139.89
US TREASURY N/B
DTD 05/15/2023 3.625% 05/15/2026
91282CHB0
250,000.00
AA+
Aaa
5/19/2023
5/22/2023
247,324.22
4.01
1,176.62
247,929.75
248,773.91
US TREASURY N/B
DTD 08/15/2023 4.375% 08/15/2026
91282CHU8
130,000.00
AA+
Aaa
8/17/2023
8/18/2023
128,984.38
4.66
2,148.27
130,233.61
129,450.84
US TREASURY N/B
DTD 08/15/2023 4.375% 08/15/2026
91282CHU8
165,000.00
AA+
Aaa
8/22/2023
8/24/2023
163,330.66
4.74
2,726.65
165,296.51
164,092.38
US TREASURY N/B
DTD 08/15/2023 4.375% 08/15/2026
91282CHU8
185,000.00
AA+
Aaa
9/7/2023
9/8/2023
183,410.16
4.69
3,057.15
185,332.45
184,123.51
14

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CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
CUSIP
Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/B
DTD 10/16/2023 4.625% 10/15/2026
91282CJC6
280,000.00
AA+
Aaa
10/16/2023 10/17/2023
278,260.94
4.85
2,775.00
281,695.40
278,934.08
US TREASURY N/B
DTD 11/15/2023 4.625% 11/15/2026
91282CJK8
300,000.00
AA+
Aaa
1/3/2024
1/4/2024
303,820.31
4.15
1,801.45
301,933.50
302,546.25
US TREASURY N/B
DTD 11/15/2023 4.625% 11/15/2026
91282CJK8
475,000.00
AA+
Aaa
12/1/2023
12/4/2023
477,133.79
4.46
2,852.30
478,061.37
476,385.63
US TREASURY N/B
DTD 12/15/2023 4.375% 12/15/2026
91282CJP7
460,000.00
AA+
Aaa
1/3/2024
1/4/2024
463,054.69
4.13
939.90
461,006.48
462,067.20
US TREASURY N/B
DTD 02/15/2024 4.125% 02/15/2027
91282CKA8
965,000.00
AA+
Aaa
2/13/2024
2/15/2024
956,028.52
4.46
15,035.51
962,286.42
958,535.07
US TREASURY N/B
DTD 04/15/2024 4.500% 04/15/2027
91282CKJ9
110,000.00
AA+
Aaa
4/12/2024
4/15/2024
109,346.88
4.71
1,060.71
110,541.42
109,494.65
US TREASURY N/B
DTD 05/15/2024 4.500% 05/15/2027
91282CKR1
100,000.00
AA+
Aaa
5/9/2024
5/15/2024
99,664.06
4.62
584.25
100,488.30
99,730.96
US TREASURY N/B
DTD 05/15/2017 2.375% 05/15/2027
912828X88
1,175,000.00
AA+
Aaa
3/14/2024
3/15/2024
1,103,260.74
4.46
3,623.19
1,125,154.15
1,121,381.73
US TREASURY N/B
DTD 06/17/2024 4.625% 06/15/2027
91282CKV2
255,000.00
AA+
Aaa
7/2/2024
7/3/2024
255,517.97
4.55
550.81
257,111.66
255,435.65
US TREASURY N/B
DTD 07/15/2024 4.375% 07/15/2027
91282CKZ3
105,000.00
AA+
Aaa
7/30/2024
7/31/2024
105,516.80
4.20
2,122.11
105,258.41
105,447.50
US TREASURY N/B
DTD 07/15/2024 4.375% 07/15/2027
91282CKZ3
640,000.00
AA+
Aaa
8/1/2024
8/2/2024
646,525.00
4.00
12,934.78
641,575.04
645,657.24
US TREASURY N/B
DTD 08/15/2017 2.250% 08/15/2027
9128282R0
180,000.00
AA+
Aaa
9/1/2022
9/1/2022
170,894.53
3.37
1,529.76
171,077.40
175,188.04
US TREASURY N/B
DTD 09/16/2024 3.375% 09/15/2027
91282CLL3
730,000.00
AA+
Aaa
10/1/2024
10/2/2024
727,832.81
3.48
7,350.41
713,289.57
728,010.67
US TREASURY N/B
DTD 10/15/2024 3.875% 10/15/2027
91282CLQ2
230,000.00
AA+
Aaa
11/1/2024
11/4/2024
228,176.17
4.16
1,909.82
227,556.25
228,269.97
US TREASURY N/B
DTD 11/15/2024 4.125% 11/15/2027
91282CLX7
975,000.00
AA+
Aaa
12/5/2024
12/6/2024
975,152.34
4.12
5,221.77
970,582.27
975,148.95
US TREASURY N/B
DTD 11/30/2022 3.875% 11/30/2027
91282CFZ9
1,100,000.00
AA+
Aaa
3/14/2024
3/15/2024
1,079,976.56
4.41
3,747.25
1,087,453.40
1,084,291.57
US TREASURY N/B
DTD 02/28/2023 4.000% 02/29/2028
91282CGP0
1,100,000.00
AA+
Aaa
3/14/2024
3/15/2024
1,084,789.06
4.38
14,950.28
1,089,859.10
1,087,860.70
15

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
CUSIP
Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/B
DTD 05/31/2023 3.625% 05/31/2028
91282CHE4
460,000.00
AA+
Aaa
4/1/2024
4/1/2024
446,541.41
4.40
1,465.93
449,865.74
448,974.75
US TREASURY N/B
DTD 01/02/2024 3.750% 12/31/2028
91282CJR3
665,000.00
AA+
Aaa
1/26/2024
1/29/2024
655,830.27
4.06
68.89
649,985.63
657,415.57
17,137,000.00
16,851,166.27
158,917.62
16,971,389.14
Security Type Sub-Total
4.22
16,993,276.30
Municipal
SCOTTSDALE-REF
DTD 12/30/2020 0.608% 07/01/2025
810454BL1
90,000.00
AAA
Aaa
12/10/2020 12/30/2020
90,000.00
0.61
273.60
88,373.52
90,000.00
90,000.00
90,000.00
273.60
88,373.52
Security Type Sub-Total
0.61
90,000.00
Federal Agency
FEDERAL HOME LOAN BANK
(CALLABLE)
DTD 08/08/2022 4.100% 08/08/2025
3130ASRJ0
875,000.00
AA+
Aaa
8/5/2022
8/8/2022
874,562.50
4.12
14,250.35
874,297.38
874,912.09
FANNIE MAE  (CALLABLE)
DTD 08/30/2022 4.000% 08/28/2025
3135GACV1
375,000.00
AA+
Aaa
8/25/2022
8/30/2022
374,981.25
4.00
5,125.00
374,157.75
374,995.88
1,250,000.00
1,249,543.75
19,375.35
1,248,455.13
Security Type Sub-Total
4.08
1,249,907.97
Corporate
APPLE INC
DTD 05/13/2015 3.200% 05/13/2025
037833BG4
265,000.00
AA+
Aaa
12/15/2022 12/19/2022
257,103.00
4.52
1,130.67
263,817.84
263,793.51
PEPSICO INC  (CALLABLE)
DTD 07/17/2015 3.500% 07/17/2025
713448CY2
155,000.00
A+
A1
1/17/2023
1/19/2023
151,523.35
4.46
2,471.39
154,168.58
154,241.18
INTEL CORP  (CALLABLE)
DTD 07/29/2015 3.700% 07/29/2025
458140AS9
150,000.00
BBB
Baa1
1/17/2023
1/19/2023
147,154.50
4.50
2,343.33
148,998.45
149,349.60
MICROSOFT CORP  (CALLABLE)
DTD 11/03/2015 3.125% 11/03/2025
594918BJ2
265,000.00
AAA
Aaa
1/23/2023
1/25/2023
256,737.30
4.33
1,334.20
262,235.26
262,499.66
NOVARTIS CAPITAL CORP
(CALLABLE)
DTD 11/20/2015 3.000% 11/20/2025
66989HAJ7
230,000.00
AA-
Aa3
1/27/2023
1/31/2023
221,862.60
4.35
785.83
227,083.60
227,427.32
16

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
CUSIP
Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
AMAZON.COM INC  (CALLABLE)
DTD 05/12/2021 1.000% 05/12/2026
023135BX3
100,000.00
AA
A1
6/2/2023
6/6/2023
90,597.00
4.45
136.11
95,674.00
95,627.96
CHARLES SCHWAB CORP
(CALLABLE)
DTD 05/13/2021 1.150% 05/13/2026
808513BR5
120,000.00
A-
A2
7/25/2024
7/26/2024
111,789.60
5.19
184.00
114,568.08
113,688.74
TOYOTA MOTOR CREDIT CORP
DTD 08/14/2023 5.000% 08/14/2026
89236TKX2
135,000.00
A+
A1
8/22/2023
8/25/2023
134,380.35
5.17
2,568.75
135,900.59
134,662.06
BANK OF AMERICA NA  (CALLABLE)
DTD 08/18/2023 5.526% 08/18/2026
06428CAA2
135,000.00
A+
Aa1
10/23/2023 10/24/2023
133,863.30
5.85
2,756.09
136,776.60
134,341.97
WALMART INC  (CALLABLE)
DTD 09/17/2021 1.050% 09/17/2026
931142ER0
340,000.00
AA
Aa2
1/30/2023
1/31/2023
304,092.60
4.22
1,031.33
321,624.02
323,063.58
BLACKROCK FUNDING INC
(CALLABLE)
DTD 07/26/2024 4.600% 07/26/2027
09290DAH4
105,000.00
AA-
Aa3
7/17/2024
7/26/2024
104,996.85
4.60
2,079.58
105,255.99
104,997.48
CATERPILLAR FINL SERVICE
DTD 08/16/2024 4.400% 10/15/2027
14913UAR1
170,000.00
A
A2
8/12/2024
8/16/2024
169,915.00
4.42
1,579.11
169,327.99
169,924.54
MASTERCARD INC  (CALLABLE)
DTD 09/05/2024 4.100% 01/15/2028
57636QBA1
90,000.00
A+
Aa3
9/3/2024
9/5/2024
89,950.50
4.12
1,189.00
89,014.50
89,955.19
BANK OF NY MELLON CORP
(CALLABLE)
DTD 02/07/2017 3.442% 02/07/2028
06406RAB3
340,000.00
A
Aa3
8/6/2024
8/7/2024
330,323.60
4.33
4,681.12
331,317.08
331,359.92
JPMORGAN CHASE & CO
(CALLABLE)
DTD 02/24/2022 2.947% 02/24/2028
46647PCW4
110,000.00
A
A1
9/14/2023
9/18/2023
100,580.70
5.13
1,143.60
105,830.45
103,313.24
JPMORGAN CHASE & CO
(CALLABLE)
DTD 04/22/2024 5.571% 04/22/2028
46647PEE2
110,000.00
A
A1
6/3/2024
6/4/2024
110,733.70
5.38
1,174.55
111,878.25
110,596.03
2,820,000.00
2,715,603.95
26,588.66
2,773,471.28
Security Type Sub-Total
4.59
2,768,841.98
21,297,000.00
20,906,313.97
205,155.23
21,081,689.07
Managed Account Sub Total
Securities Sub Total
Accrued Interest
$21,297,000.00
$20,906,313.97
$205,155.23
$21,081,689.07
$205,155.23
21,102,026.25
$21,102,026.25
4.25
4.25%
Total Investments
$21,286,844.30
17

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Par ($)
CUSIP
Maturity
Date
Transact
Amount ($)
Coupon
Yield
at Market
Realized
G/L (BV)
Security Description
BUY
10/1/2024
10/2/2024
730,000.00
91282CLL3
US TREASURY N/B
3.37%
9/15/2027
728,989.82
3.48%
11/1/2024
11/4/2024
230,000.00
91282CLQ2
US TREASURY N/B
3.87%
10/15/2027
228,665.87
4.16%
12/5/2024
12/6/2024
975,000.00
91282CLX7
US TREASURY N/B
4.12%
11/15/2027
977,485.47
4.12%
Total  BUY
1,935,000.00
1,935,141.16
0.00
INTEREST
10/1/2024
10/1/2024
MONEY0002
MONEY MARKET FUND
0.00%
84.43
10/15/2024
10/15/2024
14913UAR1
CATERPILLAR FINL SERVICE
4.40%
10/15/2027
1,225.89
10/15/2024
10/15/2024
91282CGV7
US TREASURY N/B
3.75%
4/15/2026
6,225.00
10/15/2024
10/15/2024
91282CJC6
US TREASURY N/B
4.62%
10/15/2026
6,475.00
10/15/2024
10/15/2024
91282CKJ9
US TREASURY N/B
4.50%
4/15/2027
2,475.00
10/22/2024
10/22/2024
46647PEE2
JPMORGAN CHASE & CO  (CALLABLE)
5.57%
4/22/2028
3,064.05
11/1/2024
11/1/2024
MONEY0002
MONEY MARKET FUND
0.00%
81.20
11/3/2024
11/3/2024
594918BJ2
MICROSOFT CORP  (CALLABLE)
3.12%
11/3/2025
4,140.63
11/12/2024
11/12/2024
023135BX3
AMAZON.COM INC  (CALLABLE)
1.00%
5/12/2026
500.00
11/13/2024
11/13/2024
037833BG4
APPLE INC
3.20%
5/13/2025
4,240.00
11/13/2024
11/13/2024
808513BR5
CHARLES SCHWAB CORP  (CALLABLE)
1.15%
5/13/2026
690.00
11/15/2024
11/15/2024
912828X88
US TREASURY N/B
2.37%
5/15/2027
13,953.13
18

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Par ($)
CUSIP
Maturity
Date
Transact
Amount ($)
Coupon
Yield
at Market
Realized
G/L (BV)
Security Description
INTEREST
11/15/2024
11/15/2024
91282CKR1
US TREASURY N/B
4.50%
5/15/2027
2,250.00
11/15/2024
11/15/2024
91282CJK8
US TREASURY N/B
4.62%
11/15/2026
17,921.88
11/15/2024
11/15/2024
91282CHB0
US TREASURY N/B
3.62%
5/15/2026
4,531.25
11/15/2024
11/15/2024
91282CFW6
US TREASURY N/B
4.50%
11/15/2025
11,250.00
11/18/2024
11/18/2024
882508BR4
TEXAS INSTRUMENTS INC
4.70%
11/18/2024
822.50
11/20/2024
11/20/2024
66989HAJ7
NOVARTIS CAPITAL CORP  (CALLABLE)
3.00%
11/20/2025
3,450.00
11/30/2024
11/30/2024
91282CHE4
US TREASURY N/B
3.62%
5/31/2028
8,337.50
11/30/2024
11/30/2024
91282CFZ9
US TREASURY N/B
3.87%
11/30/2027
21,312.50
12/2/2024
12/2/2024
MONEY0002
MONEY MARKET FUND
0.00%
279.98
12/15/2024
12/15/2024
91282CGA3
US TREASURY N/B
4.00%
12/15/2025
5,400.00
12/15/2024
12/15/2024
91282CKV2
US TREASURY N/B
4.62%
6/15/2027
5,896.88
12/15/2024
12/15/2024
91282CJP7
US TREASURY N/B
4.37%
12/15/2026
10,062.50
12/31/2024
12/31/2024
91282CJR3
US TREASURY N/B
3.75%
12/31/2028
12,468.75
Total  INTEREST
0.00
147,138.07
0.00
MATURITY
11/18/2024
11/18/2024
35,000.00
882508BR4
TEXAS INSTRUMENTS INC
4.70%
11/18/2024
35,000.00
Total  MATURITY
35,000.00
35,000.00
0.00
19

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Par ($)
CUSIP
Maturity
Date
Transact
Amount ($)
Coupon
Yield
at Market
Realized
G/L (BV)
Security Description
SELL
10/1/2024
10/2/2024
235,000.00
91282CDZ1
US TREASURY N/B
1.50%
2/15/2025
232,898.65
-224.36
10/1/2024
10/2/2024
495,000.00
91282CEQ0
US TREASURY N/B
2.75%
5/15/2025
495,692.73
-3,090.63
11/1/2024
11/4/2024
230,000.00
91282CEU1
US TREASURY N/B
2.87%
6/15/2025
230,508.09
838.62
12/5/2024
12/6/2024
235,000.00
91282CEY3
US TREASURY N/B
3.00%
7/15/2025
235,931.94
-1,628.46
12/5/2024
12/6/2024
650,000.00
91282CEY3
US TREASURY N/B
3.00%
7/15/2025
652,577.70
-4,513.08
Total  SELL
1,845,000.00
1,847,609.11
-8,617.91
20

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Par ($)
CUSIP
Maturity
Date
Transact
Amount ($)
Coupon
Yield
at Market
Realized
G/L (BV)
Security Description
Tran.
Type
10/1/2024
10/2/2024
730,000.00
91282CLL3
US TREASURY N/B
3.37%
9/15/2027
728,989.82
3.48%
BUY
11/1/2024
11/4/2024
230,000.00
91282CLQ2
US TREASURY N/B
3.87%
10/15/2027
228,665.87
4.16%
BUY
12/5/2024
12/6/2024
975,000.00
91282CLX7
US TREASURY N/B
4.12%
11/15/2027
977,485.47
4.12%
BUY
10/1/2024
10/1/2024
MONEY0002
MONEY MARKET FUND
0.00%
84.43
INTEREST
10/15/2024
10/15/2024
14913UAR1
CATERPILLAR FINL SERVICE
4.40%
10/15/2027
1,225.89
INTEREST
10/15/2024
10/15/2024
91282CGV7
US TREASURY N/B
3.75%
4/15/2026
6,225.00
INTEREST
10/15/2024
10/15/2024
91282CJC6
US TREASURY N/B
4.62%
10/15/2026
6,475.00
INTEREST
10/15/2024
10/15/2024
91282CKJ9
US TREASURY N/B
4.50%
4/15/2027
2,475.00
INTEREST
10/22/2024
10/22/2024
46647PEE2
JPMORGAN CHASE & CO  (CALLABLE)
5.57%
4/22/2028
3,064.05
INTEREST
11/1/2024
11/1/2024
MONEY0002
MONEY MARKET FUND
0.00%
81.20
INTEREST
11/3/2024
11/3/2024
594918BJ2
MICROSOFT CORP  (CALLABLE)
3.12%
11/3/2025
4,140.63
INTEREST
11/12/2024
11/12/2024
023135BX3
AMAZON.COM INC  (CALLABLE)
1.00%
5/12/2026
500.00
INTEREST
11/13/2024
11/13/2024
037833BG4
APPLE INC
3.20%
5/13/2025
4,240.00
INTEREST
11/13/2024
11/13/2024
808513BR5
CHARLES SCHWAB CORP  (CALLABLE)
1.15%
5/13/2026
690.00
INTEREST
11/15/2024
11/15/2024
912828X88
US TREASURY N/B
2.37%
5/15/2027
13,953.13
INTEREST
11/15/2024
11/15/2024
91282CKR1
US TREASURY N/B
4.50%
5/15/2027
2,250.00
INTEREST
11/15/2024
11/15/2024
91282CJK8
US TREASURY N/B
4.62%
11/15/2026
17,921.88
INTEREST
11/15/2024
11/15/2024
91282CHB0
US TREASURY N/B
3.62%
5/15/2026
4,531.25
INTEREST
21

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Par ($)
CUSIP
Maturity
Date
Transact
Amount ($)
Coupon
Yield
at Market
Realized
G/L (BV)
Security Description
Tran.
Type
11/15/2024
11/15/2024
91282CFW6
US TREASURY N/B
4.50%
11/15/2025
11,250.00
INTEREST
11/18/2024
11/18/2024
882508BR4
TEXAS INSTRUMENTS INC
4.70%
11/18/2024
822.50
INTEREST
11/20/2024
11/20/2024
66989HAJ7
NOVARTIS CAPITAL CORP  (CALLABLE)
3.00%
11/20/2025
3,450.00
INTEREST
11/30/2024
11/30/2024
91282CHE4
US TREASURY N/B
3.62%
5/31/2028
8,337.50
INTEREST
11/30/2024
11/30/2024
91282CFZ9
US TREASURY N/B
3.87%
11/30/2027
21,312.50
INTEREST
12/2/2024
12/2/2024
MONEY0002
MONEY MARKET FUND
0.00%
279.98
INTEREST
12/15/2024
12/15/2024
91282CGA3
US TREASURY N/B
4.00%
12/15/2025
5,400.00
INTEREST
12/15/2024
12/15/2024
91282CKV2
US TREASURY N/B
4.62%
6/15/2027
5,896.88
INTEREST
12/15/2024
12/15/2024
91282CJP7
US TREASURY N/B
4.37%
12/15/2026
10,062.50
INTEREST
12/31/2024
12/31/2024
91282CJR3
US TREASURY N/B
3.75%
12/31/2028
12,468.75
INTEREST
11/18/2024
11/18/2024
35,000.00
882508BR4
TEXAS INSTRUMENTS INC
4.70%
11/18/2024
35,000.00
MATURITY
10/1/2024
10/2/2024
235,000.00
91282CDZ1
US TREASURY N/B
1.50%
2/15/2025
232,898.65
-224.36
SELL
10/1/2024
10/2/2024
495,000.00
91282CEQ0
US TREASURY N/B
2.75%
5/15/2025
495,692.73
-3,090.63
SELL
11/1/2024
11/4/2024
230,000.00
91282CEU1
US TREASURY N/B
2.87%
6/15/2025
230,508.09
838.62
SELL
12/5/2024
12/6/2024
235,000.00
91282CEY3
US TREASURY N/B
3.00%
7/15/2025
235,931.94
-1,628.46
SELL
12/5/2024
12/6/2024
650,000.00
91282CEY3
US TREASURY N/B
3.00%
7/15/2025
652,577.70
-4,513.08
SELL
TOTALS
3,964,888.34
-8,617.91
3,815,000.00
22

PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Appendix
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard
to any specific objectives or financial circumstances.
PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sources
external to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We
rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements.
While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to
particular issuers are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index
characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit
tiers on the portion of the strategy rated by a NRSRO.
It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.
Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any
sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment
performance to be lower than the performance shown.
The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast,
projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion
as of the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as
actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and
data presented are not necessarily indicative of future events or expected performance.
PFM Asset Management serves clients in the public sector and is a division of U.S. Bancorp Asset Management, Inc., which is the legal entity providing investment
advisory services. U.S. Bancorp Asset Management, Inc. is a registered investment adviser, a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S.
Bancorp. U.S. Bank N.A. is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Asset Management, Inc. The
information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.
For more information regarding PFMAM's services or entities, please visit www.pfmam.com.
Further distribution is not permitted without prior written consent.
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PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Appendix
Important Disclosures
Generally, PFMAM’s market prices are derived from closing bid prices as of the last business day of the month as supplied by ICE Data Services. There may be
differences in the values shown for investments due to accrued but uncollected income and the use of differing valuation sources and methods. Non-negotiable
FDIC-insured bank certificates of deposit are priced at par. Although PFMAM believes the prices to be reliable, the values of the securities may not represent the
prices at which the securities could have been bought or sold. Explanation of the valuation methods for a registered investment company or local government
investment program is contained in the appropriate fund offering documentation or information statement.
In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly
balances, and forward settling sales are excluded.
Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown
gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past 
performance is not indicative of future returns.
ICE Bank of America Indices provided by Bloomberg Financial Markets.
Money market fund/cash balances are included in performance and duration computations.
Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.
Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.
MBS maturities are represented by expected average life.
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PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Appendix
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.
Agencies: Federal agency securities and/or Government-sponsored enterprises.
Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase
date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized
on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.
Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans,
leases, credit card balances, and receivables.
Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.
Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.
Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector added
or subtracted from the overall portfolio performance.
Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.
Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compounding
on investment returns, while nominal yield does not.
FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.
Interest Rate: Interest per year divided by principal amount and expressed as a percentage.
Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.
Maturity: The date upon which the principal or stated value of an investment becomes due and payable.
Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.
Par Value: The nominal dollar face amount of a security.
Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the
mortgage-backed security.
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PFM Asset Management  |  pfmam.com
CITY OF CHANDLER
For the Quarter Ended December 31, 2024
Appendix
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.
Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments and
maturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.
Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whose
decisions are binding on its members.
Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.
Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.
U.S. Treasury: The department of the U.S. government that issues Treasury securities.
Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a
percentage on an annualized basis.
YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time period
from purchase date to maturity, stated as a percentage on an annualized basis.
YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time
period remaining until maturity, stated as a percentage on an annualized basis.
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