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Portfolio Composition & Compliance – Security Composition High quality and diversified portfolio o Security type allocations based on: o Cash Flow Needs o Relative Value Opportunities - higher yield for similar maturities and credit risk o Large allocation to MLGIP given compelling rates at the short end of the yield curve. o Minimizing credit risks associated with ratings downgrades and/or defaults Market Value as of 6/30/2025
Treasury $172,954,997 16%
Cash $29,676,346 3%
Agency $66,494,628 6%
MLGIP, $471,414,692 44%
Supranational $50,913,167 5%
Municipal $133,402,332 13%
Money Market Mutual Fund $140,749,295 13%
PORTFOLIO VALUE
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