INVESTMENT PORTFOLIO SUMMARY REPORT ESCAMBIA COUNTY BOARD OF COUNTY COMMISSIONERS INVESTMENT PORTFOLIO SUMMARY REPORT Prepared by: Pam Childers Clerk of the Circuit Court & Comptroller First Judicial Circuit, Escambia County Prepared by the Clerk of the Circuit Court and Comptroller Page 1
INVESTMENT PORTFOLIO SUMMARY REPORT INVESTMENT PORTFOLIO COMPOSITION SHORT TERM AND LONG TERM CORE PORTFOLIO PERFORMANCE STATISTICS Market Value SUMMARY OF INVESTMENT ALLOCATION March 31, 2017 SHORT TERM PORTFOLIO: March 31, 2017 Bank Accounts $ 31,975,170 $ 23,175,551 Market Value $ 177,617,702 $ 168,917,469 Money Market Accounts 60,533,436 60,558,558 State Board of Administration 39,932,386 39,968,601 Short Term Portfolio Yield: 0.64% 0.73% Local Government Investment Pools 25,068,851 25,106,901 Benchmark: S&P GIP Index 30 Day Gross of Fees Yield: 0..67% 0.76% Certificates of Deposit 20,107,859 20,107,859 Money Market Mutual Fund 590,718 194,100 Fiscal YTD Earnings: $ 488,962 $ 601,864 U.S. Treasury Bond/Notes 40,640,359 42,262,278 Federal Agency Bond/Note 36,615,611 35,131,635 Municipal Bonds 3,942,259 3,940,008 ENHANCED CASH PORTFOLIO: March 31, 2017 Corporate Notes 19,728,623 20,239,726 Market Value $ - $ - Commercial Paper 1,198,886 1,199,784 Enhanced Cash Portfolio Yield to Maturity at Cost: 0.00% 0.00% Total Portfolio Assets: $ 280,334,158 $ 271,885,002 Benchmark Merrill Lynch 1 Year U.S. Treasury Index: 1.07% 1.10% Benchmark Merrill Lynch 1-3 Year U.S. Treasury Index: 1.26% 1.26% Current Month Earnings: $ 208,213 $ 227,715 Effective Duration (Years) 0.00 0.00 Fiscal Year to Date Earnings: $ 1,088,573 $ 1,316,288 Benchmark Merrill Lynch 1-3 Year U.S. Treasury Index: 1.86 1.81 Fiscal YTD Earnings: $ 3,316 $ 3,316 LONG TERM CORE PORTFOLIO: March 31, 2017 Market Value $ 102,716,456 $ 102,967,533 CORE Portfolio Yield to Maturity at Cost: 1.36% 1.37% Benchmark Merrill Lynch 1-5 Year U.S. Treasury Index: 1.46% 1.43% CORE Portfolio Total Return: 0.06% 0.29% Benchmark Merrill Lynch 1-5 Year U.S. Treasury Index: 0.05% 0.31% Effective Duration (Years) 2.42 2.40 Benchmark Merrill Lynch 1-5 Year U.S. Treasury Index: 2.67 2.62 Fiscal YTD Earnings: $ 596,295 $ 711,108 Prepared by the Clerk of the Circuit Court and Comptroller Page 2
INVESTMENT PORTFOLIO REPORT SHORT TERM INVESTMENT PORTFOLIO: PORTFOLIO COMPOSITION DISTRIBUTION & CREDIT QUALITY: Investment Type Market Value Percent Allocation Bank of America Checking Account $ 23,175,551 13.7% Money Market Accounts 60,558,558 35.9% Certificates of Deposit 20,107,859 11.9% State Board of Administration 39,968,601 23.7% Local Government Investment Pools 25,106,901 14.9% Bank Deposits 61.5% Short Term Portfolio Credit Quality AAAm 38.5% Total Short Term Portfolio Assets: $ 168,917,469 100.0% LONG TERM INVESTMENT PORTFOLIO: 42855 PORTFOLIO COMPOSITION DISTRIBUTION & CREDIT QUALITY: Investment Type Market Value Percent Allocation U.S. Treasury Bond / Note $ 42,262,278 41.0% Federal Agency Bond / Note 35,131,635 34.1% Municipal Obligations 3,940,008 3.8% Commercial Paper 1,199,784 1.2% Corporate Note 20,239,726 19.7% Money Market Mutual Fund - Federated Government 194,100 0.2% AA 3.99% AA 8.71% A 4.94% Long Term Core Portfolio Credit Quality A 2.93% A 1 1.17% AAA 0.49% Total Long Term Core Portfolio Assets: $ 102,967,533 100.0% AA+ 77.77% Prepared by the Clerk of the Circuit Court and Comptroller Page 3
INVESTMENT POLICY COMPLIANCE REPORT Security Type Market Value Percent Allocation Permitted by Policy In Compliance Florida Prime (SBA) $ 39,968,601 14.7% 25% Yes United States Treasury Securities 42,262,278 15.5% 100% Yes Federal Instrumentalities 35,131,635 12.9% 50% Yes Local Government Investment Pools 25,106,901 9.2% 50% Yes Certificates of Deposit 20,107,859 7.4% 50% Yes Savings Accounts 60,558,558 22.3% 50% Yes Commercial Paper 1,199,784 0.4% 25% Yes Corporate Notes 20,239,726 7.4% 25% Yes State and/or Local Government Debt 3,940,008 1.4% 25% Yes Bank Accounts - Bank of America 23,175,551 8.5% 100% Yes Money Market Mutual Fund 194,100 0.1% 50% Yes Total Investment Holdings $ 271,885,002 100.0% 42855 Individual Issuer Breakdown Market Value Percent Allocation Permitted by Policy In Compliance American Express Co 1,007,471 0.4% 5% Yes Apple Inc. Corporate Notes 750,062 0.3% 5% Yes Bank Accounts - Bank of America 23,175,551 8.5% 100% Yes Bank of New York Mellon Corporate Notes 2,000,580 0.7% 5% Yes BBVA Compass 5,022,551 1.8% 15% Yes Berkshire Hathaway Inc 620,772 0.2% 5% Yes BNP Paribas 1,199,784 0.4% 5% Yes Centennial Bank 20,078,330 7.4% 15% Yes Chevron Corporation Corp Notes 749,091 0.3% 5% Yes Cisco Systems Inc. 2,005,730 0.7% 5% Yes City of New York 1,709,299 0.6% 5% Yes Colgate-Palmolive Co 746,819 0.3% 5% Yes Exxon Mobil Corporate Notes 1,002,344 0.4% 5% Yes Federal Home Loan Bank (FHLB) 15,017,700 5.5% 25% Yes Federal Home Loan Mortgage Corporation (FHLMC) 8,131,690 3.0% 25% Yes Federal National Mortgage Association (FNMA) 11,982,246 4.4% 25% Yes Fidelity Institutional Government MMF 194,100 0.1% 25% Yes FLCLASS 5,027,894 1.8% 25% Yes Florida Prime (SBA) 39,968,601 14.7% 25% Yes Florida Local Government Investment Trust 20,079,007 7.4% 25% Yes General Electric Corporate Notes 2,508,255 0.9% 5% Yes Hancock Bank 27,742,043 10.2% 15% Yes HSBC Holdings PLC 1,000,324 0.4% 5% Yes Prepared by the Clerk of the Circuit Court and Comptroller Page 4
INVESTMENT POLICY COMPLIANCE REPORT Individual Issuer Breakdown Market Value Percent Allocation Permitted by Policy In Compliance JP Morgan Chase Corporate Notes 2,001,794 0.7% 5% Yes Microsoft Corporate Notes 504,879 0.2% 5% Yes Mississippi State 760,213 0.3% 5% Yes Pepsico, Inc. 1,074,377 0.4% 5% Yes Pfizer Inc Corporate Notes 1,009,043 0.4% 5% Yes Servisfirst Bank 27,823,493 10.2% 15% Yes State of Connecticut 683,794 0.3% 5% Yes Toyota Motor Corp 1,501,787 0.6% 5% Yes United States Treasury Securities 42,262,278 15.5% 100% Yes University of WA Taxable Revenue Bonds 786,702 0.3% 5% Yes Wells Fargo &Company Corporate Notes 1,756,399 0.6% 5% Yes Total Investment Holdings $ 271,885,002 100.0% Prepared by the Clerk of the Circuit Court and Comptroller Page 5