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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 9/30/2025
Cash $25,214,061 3%
Commercial Paper $11,975,000 1%
Treasury $190,303,840 19%
MLGIP, $445,688,263 45%
Agency $70,395,034 7%
Supranational $50,997,196 5%
Municipal $139,472,911 14%
Money Market Mutual Fund $63,741,957 6%
PORTFOLIO VALUE
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