9
Portfolio Composition & Compliance – Compliance Report (continued)
Compliance
Market
Investment Policy Limit
With Investment
Credit Ratings
S&P
Moody's
Market Value ($)
% of Total
Policy
Municipal Debt - Austin, TX Comm Coll
AA+
Aa1 Aaa Aaa Aaa Aa1 NR Aa2 Aaa Aaa NR Aa1 Aaa Aaa Aa1 Aa2 Aa1 Aa2 Aa2 Aa1 Aaa Aa1 NR Aa2 NR Aa2 Aa2 Aa1 Aa1
864,790
0.1% 5% 0.3% 5% 0.2% 5% 0.1% 5% 0.2% 5% 0.9% 5% 0.1% 5% 0.8% 5% 0.8% 5% 0.2% 5% 0.1% 5% 0.6% 5% 1.0% 5% 2.0% 5% 0.9% 5% 0.6% 5% 0.1% 5% 0.1% 5% 1.3% 5% 1.0% 5% 0.3% 5% 1.0% 5% 0.1% 5% 0.1% 5% 0.2% 5% 0.2% 5% 0.5% 5% 0.1% 5% 0.2% 5%
Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
- Bergen County, NJ - Boston, City of - Collin County, TX - Emeryville, CA - Garland, TX - Hawaii, State of - Contra Costa Comm, CA
NR
2,668,803 1,552,621 2,037,320 9,001,969 1,027,810 8,111,675 949,760 7,597,200 1,689,605 1,021,870 6,286,620 9,767,160 19,866,563 9,259,776 5,968,580 1,433,572 12,731,029 9,880,688 2,638,654 10,147,900 984,427
AAA AAA AA+ AAA
AA+ AA+
- Los Angeles CMNTY CLG DIST, CA
- Marin County, CA
NR
- Martinsville Independent School - Massachusetts, Commonwealth of
AAA AA+ AAA
- Minnesota, State of - Multnomah County, OR - New York, State of - Ohlone Comm College - Oregon Local Govts - Oregon School Board - New York City
NR
AA+
AA
AA+
NR AA
- Oregon, State of
AA+ AAA AA+ AAA
- Palm Beach County, FL
- Phoenix
- Santa Clara County
759,420 978,054
- Solano County Community
AA
- Texas, State of
AAA
2,042,020 2,177,301 4,929,841
- Travis County Health, Texas
NR NR
- Tulsa ISD, OK
- Westchester County, NY
AA+ AA+
824,970
- Wisconsin, State of
2,272,914
Sub-Total Municipal
139,472,911
14.0% 20%
Yes
Supranationals - African Development Bank - Asian Development Bank
AAA AAA AAA AAA
Aaa Aaa Aaa Aaa
9,765,000 4,213,269 22,020,727 14,998,200
1.0% 10% 0.4% 10% 2.2% 10% 1.5% 10%
Yes Yes Yes Yes
- International Bank for Reconstruction & Development
- Inter-American Development Bank
Sub-Total Supranationals
50,997,196
5.1% 30%
Yes
Commercial Paper - Exxon Mobil
A-1+ A-1+
P-1 P-1
-
0.0% 5% 1.2% 5%
Yes Yes
- Toyota Motor Credit
11,975,000
Sub-Total Commercial Paper
11,975,000
1.2% 20%
Yes
Grand Total
997,788,263
100.0%
After reviewing the investment activity for the month ended September 30, 2025, we have not identified any instances of material non-compliance with the Investment Policy.
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