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Dealer Trade Allocation Dispersion of trades tends to vary quarterly as a function of relative competitiveness amongst counterparties & types of securities sought; this dispersion is expected & normal as markets ebb & flow Investment Policy Statement 14: “Whenever practical, securities shall be purchased & sold through a formal competitive process requiring the solicitation & evaluation of a least three bids/offers from Qualified Institutions.” Broker/Dealers are reviewed annually for competitiveness by the Investment Committee. Dealer suspensions & additions may result from trailing twelve-month responsiveness & competitiveness
Value ($) of Trades, by Broker (Millions)
Wells Fargo Securities Toyota Motor Credit [D] Stifel Nicolaus Samuel A. Ramirez & Co RBC Capital Markets LLC Piper Jaffray MBS Securities Jefferies & Co Janney Montgomery Huntington Securities FHN Financial Exxon Mobil [D] Cantor Fitzgerald BNY Mellon Bank of America Securities Academy Securities
0.0
100.0
200.0
300.0
400.0
500.0
600.0
12 Mos, 6/30/2026 12 Mos, 6/30/2025
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