SECOND Quarter Report

Size: px

Start display at page:

Download "SECOND Quarter Report"

Bruce Lee
5 years ago
Views:

Standard & Poor s Standard & Poor s Ratings in no way guarantee

1 Colorado Local Government Liquid Asset Trust SECOND Quarter Report ENDING JUNE 30, 2018 UNAUDITED d AAAm by Standard & Poor s d AAAm by Standard & Poor s Standard & Poor s Ratings in no way guarantee favorable performance results and should not be construed as safety in an investment.

2 PARTICIPANT BREAKDOWN BY BALANCE GENERAL POOL INFORMATION Special Districts 18% Other 23% Net Asset per Share $1.00 $1.00 Total Net Assets (Millions) $425 $7,715 Average Daily for Month 1.75% 2.14% Average Annualized 1.84% 2.19% Expense Ratio 0.12% 0.12% Fund Inception Date Investment Manager: Public Trust Advisors LLC School Districts 30% Counties 15% RATING* Municipalities 14% S&P AAAm AAAm PARTICIPANT ACCOUNTS BY ENTITY TYPE MONTHLY WEIGHTED AVERAGE MATURITY (WAM) Other 12% Special Districts 56% Municipalities 12% Counties 5% (DAYS) School Districts 15% 0 06/30/17 07/31/17 08/31/17 09/30/17 10/31/17 11/30/17 12/31/17 (WAM to Final) 01/31/18 02/28/17 03/31/17 04/30/18 05/31/18 06/30/18 (WAM to Final) (WAM to Reset) (WAM to Reset) The Portfolio s weighted average maturity is kept under 60 days, which further helps to enhance liquidity and limits market price exposure. Standard & Poor s Pool Profile, March 27, 2018 * Standard & Poor s Ratings in no way guarantee favorable performance results and should not be construed as safety in an investment. 2

3 Overnight Repurchase Agreements (29%, 0% respectively)* Bank of America/Merrill Lynch Tri-Party (6%, 0% respectively)* $25,426, % 7/2/ % $25,426,999 $ - (Collateralized by a U.S. Government Agency Security with a coupon rate of 0.00% and maturing on 07/15/2032.) Market value plus accrued interest: $25,935,886 BMO Tri-Party (10%, 0% respectively)* 41,478, /2/ $41,478,658 - (Collateralized by U.S. Government Treasury Securities with coupon rates between 0.00% and 5.25% and maturing between 06/30/2018 and 08/15/2047.) Market value plus accrued interest: $42,308,263 RBC Tri-Party (13%, 0% respectively)* 55,046, /2/ $55,046,314 - (Collateralized by U.S. Government Agency Securities with coupon rates between 2.654% and 4.50% and maturing between 02/01/2027 and 01/15/2058.) Market value plus accrued interest: $56,147,241 Cost of ($121,951,971, $0 respectively) 121,951,971 - U.S. Government Treasury Securities (42%, 0% respectively)* Treasury Note/Bond 18,000, Var. 7/31/ ,003,899 - Treasury Note/Bond 15,000, /15/ ,970,704 - Treasury Note/Bond 15,000, /31/ ,986,524 - Treasury Note/Bond 10,000, Var. 10/31/ ,007,508 - Treasury Bill 15,000,000 Disc** 7/12/ ,990,987 - Treasury Bill 25,000,000 Disc** 8/23/ ,930,563 - Treasury Bill 15,000,000 Disc** 8/30/ ,952,114 - Treasury Bill 5,000,000 Disc** 9/6/ ,982,202 - Treasury Bill 10,000,000 Disc** 10/25/ ,936,931 - Treasury Bill 15,000,000 Disc** 11/8/ ,891,235 - Treasury Bill 10,000,000 Disc** 11/15/ ,923,313 - Treasury Bill 15,000,000 Disc** 11/29/ ,871,102 - Treasury Bill 10,000,000 Disc** 12/6/ ,909,919 - Cost of ($177,375,012, $0 respectively) 177,357,001 - U.S. Government Agency Securities (26%, 1% respectively)* Fannie Mae Notes 80,000,000 Disc** 7/2/ ,988,734 Federal Home Loan Mortgage Corp. 10,000, /12/ ,967,400 - Federal Home Loan Mortgage Corp. 12,350, /30/ ,248,360 - * Denotes percentage of market value ** Denotes securities purchased at a discount from par 3

4 Federal Home Loan Bank Notes $15,000,000 Disc** 7/20/ % $ 14,983,664 $ - Federal Home Loan Bank Notes 15,000,000 Disc** 7/27/ ,978,546 - Federal Farm Credit Bank 7,000, /14/ ,004,130 - Federal Farm Credit Bank 23,000, Var. 12/5/ ,001,840 - Federal Farm Credit Bank 20,000, Var. 7/25/ ,988,000 - Federal Farm Credit Bank 7,600, Var. 11/4/ ,592,628 - Cost of ($109,824,764, $80,000,000 respectively) 109,764,568 79,988,734 Money Market Funds (1%, 0% respectively)* State Street Government Portfolio 7,112,867 7,112,867 - Cost of ($7,112,867, $0 respectively)* 7,112,867 - Corporate Securities (0%, 1% respectively)* Royal Bank of Canada 49,393, /30/ ,373,737 Cost of ($0, $49,401,955 respectively) - 49,373,737 Certificates of Deposit (0%, 2% respectively)* US Bank NA Cincinnati 50,000, Var. 7/23/ ,000,000 Svenska Handelsbanken AB 50,000, Var. 7/30/ ,993,500 Svenska Handelsbanken AB 50,000, Var. 8/22/ ,980,000 Cost of ($0, $150,000,000 respectively) - 149,973,500 Commercial Paper (0%, 96% respectively)* Bennington Stark Capital Co., A-1, P-1 50,000,000 Disc** 7/2/ ,991,790 Caisse des Depot et Consignations, A-1+, P-1 50,000,000 Disc** 7/2/ ,992,165 Paper II Co., A-1, P-1 25,000, Var. 7/2/ ,000,000 Gotham Funding Corp., A-1, P-1 45,500,000 Disc** 7/5/ ,484,985 Bank Nederlandse Gemeent, A-1+, P-1 50,000,000 Disc** 7/6/ ,981,720 Cedar Springs Capital Co., A-1, P-1 43,000,000 Disc** 7/6/ ,983,445 Anglesea Funding LLC, A-1, P-1 50,000,000 Disc** 7/9/ ,972,360 Caisse des Depot et Consignations, A-1+, P-1 50,000,000 Disc** 7/9/ ,973,890 Barton Capital SA, A-1, P-1 50,000,000 Disc** 7/11/ ,966,665 LMA Americas LLC, A-1, P-1 40,000,000 Disc** 7/11/ ,973,332 Australia & New Zealand Banking Group Ltd., A-1+, P-1 50,000,000 Disc** 7/12/ ,966,055 * Denotes percentage of market value ** Denotes securities purchased at a discount from par 4

5 Kells Funding LLC, A-1+, P-1 $45,000,000 Disc** 7/12/ % $ - $44,967,987 Kfw, A-1+, P-1 50,000,000 Disc** 7/12/ ,966,055 Antalis SA, A-1, P-1 45,090,000 Disc** 7/13/ ,054,753 CDP Financial Inc., A-1+, P-1 33,200,000 Disc** 7/13/ ,175,727 Paper II Co., A-1, P-1 25,000, Var. 7/13/ ,000,000 Crown Point Capital Co., A-1, P-1 50,000,000 Disc** 7/13/ ,960,915 NRW. Bank, A-1+, P-1 50,000,000 Disc** 7/13/ ,963,445 Atlantic Asset Securitization LLC, A-1, P-1 50,000,000 Disc** 7/16/ ,952,305 Erste Abwicklungsanstalt, A-1+, P-1 50,000,000 Disc** 7/17/ ,953,000 Kells Funding LLC, A-1+, P-1 50,000,000 Disc** 7/17/ ,950,000 Swedbank, A-1+, P-1 50,000,000 Disc** 7/17/ ,953,000 Crown Point Capital Co., A-1, P-1 50,000,000 Disc** 7/18/ ,946,695 Lexington Parker Capital, A-1, P-1 30,000,000 Disc** 7/18/ ,968,017 Ridgefield Funding Co. LLC, A-1, P-1 45,000,000 Disc** 7/18/ ,952,026 Australia & New Zealand Banking Group Ltd., A-1+, P-1 50,000, Var. 7/19/ ,005,400 NRW. Bank, A-1+, P-1 50,000,000 Disc** 7/19/ ,947,780 Mitsubishi UFJ Trust & Banking Corp., A-1, P-1 50,000,000 Disc** 7/20/ ,940,790 Kells Funding LLC, A-1+, P-1 40,000,000 Disc** 7/23/ ,946,132 Australia & New Zealand Banking Group Ltd., A-1+, P-1 50,000,000 Disc** 7/24/ ,934,720 Paper II Co., A-1, P-1 50,000, Var. 7/24/ ,002,850 Paper II Co., A-1, P-1 20,000, Var. 7/24/ ,002,140 Nordea North America Inc., A-1+, P-1 50,000,000 Disc** 7/24/ ,934,720 Oversea-Chinese Banking Co. Ltd., A-1+, P-1 25,000, Var. 7/24/ ,998,233 Swedbank, A-1+, P-1 50,000,000 Disc** 7/24/ ,934,720 Toronto Dominion Bank, A-1+, P-1 50,000,000 Disc** 7/24/ ,934,720 Toronto Dominion Bank, A-1+, P-1 44,000, Var. 7/24/ ,997,334 CDP Financial Inc., A-1+, P-1 39,500,000 Disc** 7/25/ ,446,367 Paper II Co., A-1, P-1 38,000, Var. 7/25/ ,002,280 Credit Suisse New York, A-1, P-1 50,000,000 Disc** 7/25/ ,925,970 DBS Bank Ltd., A-1+, P-1 50,000,000 Disc** 7/25/ ,932,110 Toyota Motor Credit Corp., A-1+, P-1 50,000,000 Disc** 7/25/ ,932,110 DZ Bank AG NY, A-1+, P-1 59,520,000 Disc** 7/26/ ,436,077 Erste Abwicklungsanstalt, A-1+, P-1 50,000,000 Disc** 7/27/ ,926,890 DNB Bank ASA, A-1, P-1 50,000, Var. 7/30/ ,000,000 NRW. Bank, A-1+, P-1 50,000,000 Disc** 7/30/ ,919,055 Crown Point Capital Co., A-1, P-1 25,000,000 Disc** 7/31/ ,953,778 NRW. Bank, A-1+, P-1 41,247,000 Disc** 7/31/ ,178,072 Toyota Motor Credit Corp., A-1+, P-1 50,000, Var. 7/31/ ,000,000 Atlantic Asset Securitization LLC, A-1, P-1 50,000, Var. 8/1/ ,997,500 Paper II Co., A-1, P-1 50,000,000 Disc** 8/1/ ,905,125 National Australia Bank Ltd., A-1+, P-1 50,000, Var. 8/1/ ,000,000 Gotham Funding Corp., A-1, P-1 57,950,000 Disc** 8/2/ ,836,163 Ontario Teachers Finance Trust, A-1+, P-1 40,000,000 Disc** 8/2/ ,928,600 Toronto Dominion Bank, A-1+, P-1 35,000,000 Disc** 8/3/ ,935,688 * Denotes percentage of market value ** Denotes securities purchased at a discount from par 5

6 Barton Capital SA, A-1, P-1 $41,400,000 Disc** 8/6/ % $ - $41,308,229 Mitsubishi UFJ Trust & Banking Corp., A-1, P-1 50,000,000 Disc** 8/6/ ,890,220 Victory Receivables Corp., A-1, P-1 50,000,000 Disc** 8/6/ ,889,165 LMA Americas LLC, A-1, P-1 110,000,000 Disc** 8/8/ ,742,116 Credit Suisse New York, A-1, P-1 40,000,000 Disc** 8/9/ ,904,788 Ontario Teachers Finance Trust, A-1+, P-1 50,000,000 Disc** 8/10/ ,889,165 Kells Funding LLC, A-1+, P-1 25,000,000 Disc** 8/13/ ,934,375 Nordea North America Inc., A-1+, P-1 50,000,000 Disc** 8/13/ ,880,625 Barton Capital SA, A-1, P-1 50,000,000 Disc** 8/14/ ,863,915 NRW. Bank, A-1+, P-1 40,000,000 Disc** 8/17/ ,895,468 Atlantic Asset Securitization LLC, A-1, P-1 50,000, Var. 8/20/ ,000,000 Nordea North America Inc., A-1+, P-1 50,000,000 Disc** 8/20/ ,860,610 Ridgefield Funding Co. LLC, A-1, P-1 40,000, Var. 8/21/ ,000,000 Coca-Cola Co., A-1, P-1 50,000,000 Disc** 8/22/ ,855,250 Erste Abwicklungsanstalt, A-1+, P-1 25,000,000 Disc** 8/22/ ,927,625 Erste Abwicklungsanstalt, A-1+, P-1 50,000,000 Disc** 8/23/ ,852,570 NRW. Bank, A-1+, P-1 50,000,000 Disc** 8/24/ ,849,110 Mitsubishi UFJ Trust & Banking Corp., A-1, P-1 50,000,000 Disc** 8/27/ ,825,460 Paper II Co., A-1, P-1 50,000, Var. 8/28/ ,000,000 Paper Co., A-1, P-1 50,000, Var. 8/28/ ,000,000 Starbird Funding Corp., A-1, P-1 50,000,000 Disc** 8/28/ ,817,500 Barton Capital SA, A-1, P-1 50,000,000 Disc** 8/29/ ,814,460 Erste Abwicklungsanstalt, A-1+, P-1 25,000,000 Disc** 8/31/ ,914,250 Societe Generale SA, A-1, P-1 94,600,000 Disc** 8/31/ ,333,465 Crown Point Capital Co., A-1, P-1 80,000, Var. 9/4/ ,000,000 Crown Point Capital Co., A-1, P-1 50,000,000 Disc** 9/4/ ,794,345 Starbird Funding Corp., A-1, P-1 50,000,000 Disc** 9/4/ ,794,345 Oversea-Chinese Banking Co. Ltd., A-1+, P-1 50,000,000 Disc** 9/5/ ,813,945 Gotham Funding Corp., A-1, P-1 50,000,000 Disc** 9/6/ ,787,250 Swedbank, A-1+, P-1 50,000,000 Disc** 9/6/ ,810,250 Toronto Dominion Bank, A-1+, P-1 25,000,000 Disc** 9/6/ ,905,125 Paper Co., A-1, P-1 50,000, Var. 9/7/ ,000,000 Commonwealth Bank of Australia, A-1+, P-1 48,000,000 Disc** 9/7/ ,815,200 Commonwealth Bank of Australia, A-1+, P-1 50,000,000 Disc** 9/10/ ,798,235 Concord Minuteman Cap Co., A-1, P-1 25,323,000 Disc** 9/10/ ,208,492 Old Line Funding LLC, A-1+, P-1 52,900,000 Disc** 9/10/ ,668,298 Starbird Funding Corp., A-1, P-1 25,000,000 Disc** 9/10/ ,886,953 Ridgefield Funding Co. LLC, A-1, P-1 50,000,000 Disc** 9/12/ ,766,665 United Overseas Bank Ltd. Singapore, A-1+, P-1 50,000,000 Disc** 9/12/ ,791,665 DBS Bank Ltd., A-1+, P-1 50,000,000 Disc** 9/13/ ,788,890 Atlantic Asset Securitization LLC, A-1, P-1 41,000,000 Disc** 9/17/ ,794,090 Old Line Funding LLC, A-1+, P-1 50,000, Var. 9/17/ ,000,000 Oversea-Chinese Banking Co. Ltd., A-1+, P-1 50,000,000 Disc** 9/17/ ,775,555 * Denotes percentage of market value ** Denotes securities purchased at a discount from par 6

7 Svenska Handelsbanken AB, A-1+, P-1 $40,000,000 Disc** 9/17/ % $ - $39,820,444 Kells Funding LLC, A-1+, P-1 50,000,000 Disc** 9/18/ ,754,750 Sumitomo Mitsui Banking, A-1, P-1 50,000,000 Disc** 9/18/ ,754,750 Toronto Dominion Bank, A-1+, P-1 35,000,000 Disc** 9/19/ ,838,962 Natixis NY Branch, A-1, P-1 40,000,000 Disc** 9/21/ ,843,200 Erste Abwicklungsanstalt, A-1+, P-1 25,000,000 Disc** 9/26/ ,873,298 Kells Funding LLC, A-1+, P-1 50,000,000 Disc** 9/27/ ,725,000 Toyota Motor Credit Corp., A-1+, P-1 50,000, Var. 9/27/ ,000,000 Atlantic Asset Securitization LLC, A-1, P-1 35,000,000 Disc** 10/1/ ,788,891 CDP Financial Inc., A-1+, P-1 35,000,000 Disc** 10/1/ ,810,825 Mitsubishi UFJ Trust & Banking Corp., A-1, P-1 50,000,000 Disc** 10/1/ ,711,470 Ridgefield Funding Co. LLC, A-1, P-1 50,000,000 Disc** 10/1/ ,698,415 Atlantic Asset Securitization LLC, A-1, P-1 38,522,000 Disc** 10/3/ ,284,704 Old Line Funding LLC, A-1+, P-1 32,900,000 Disc** 10/4/ ,692,566 Liberty Street Funding LLC, A-1, P-1 50,000,000 Disc** 10/5/ ,684,220 Ontario Teachers Finance Trust, A-1+, P-1 25,000,000 Disc** 10/5/ ,858,445 HSBC Bank PLC, A-1+, P-1 50,000, Var. 10/9/ ,037,700 JP Morgan Securities, A-1, P-1 50,000,000 Disc** 10/9/ ,684,085 United Overseas Bank Ltd. Singapore, A-1+, P-1 50,000,000 Disc** 10/10/ ,701,015 Old Line Funding LLC, A-1+, P-1 50,000, Var. 10/11/ ,000,000 Ridgefield Funding Co. LLC, A-1, P-1 50,000, Var. 10/11/ ,000,000 JP Morgan Securities, A-1, P-1 50,000, Var. 10/12/ ,000,000 JP Morgan Securities, A-1, P-1 50,000, Var. 10/15/ ,000,000 Old Line Funding LLC, A-1+, P-1 50,000, Var. 10/15/ ,000,000 Swedbank, A-1+, P-1 50,000,000 Disc** 10/15/ ,683,500 Alpine Securitization LLC, A-1, P-1 50,000, /19/ ,000,000 Toronto Dominion Bank, A-1+, P-1 50,000, Var. 10/23/ ,000,000 Westpac Banking Corp., A-1+, P-1 50,000, Var. 10/24/ ,012,050 CDP Financial Inc., A-1+, P-1 45,000,000 Disc** 10/26/ ,681,675 Anglesea Funding LLC, A-1, P-1 50,000, Var. 10/29/ ,000,000 Australia & New Zealand Banking Group Ltd., A-1+, P-1 50,000,000 Disc** 10/29/ ,635,695 Paper II Co., A-1, P-1 50,000,000 Disc** 10/31/ ,609,055 Alpine Securitization LLC, A-1, P-1 50,000, /1/ ,999,975 Credit Suisse New York, A-1, P-1 40,000,000 Disc** 11/1/ ,684,724 Ontario Teachers Finance Trust, A-1+, P-1 50,000,000 Disc** 11/2/ ,622,000 Anglesea Funding LLC, A-1, P-1 50,000, Var. 11/5/ ,000,000 Ontario Teachers Finance Trust, A-1+, P-1 25,000,000 Disc** 11/6/ ,805,000 Toyota Motor Credit Corp., A-1+, P-1 50,000, Var. 11/6/ ,000,000 Dexia Credit Local SA NY, A-1+, P-1 25,000,000 Disc** 11/7/ ,802,590 Bedford Row Funding Corp., A-1+, P-1 50,000, /9/ ,000,000 Toyota Motor Credit Corp., A-1+, P-1 50,000, Var. 11/13/ ,000,000 Anglesea Funding LLC, A-1, P-1 50,000, Var. 11/19/ ,000,000 United Overseas Bank Ltd. Singapore, A-1+, P-1 50,000,000 Disc** 11/20/ ,562,000 Anglesea Funding LLC, A-1, P-1 50,000, Var. 11/26/ ,000,000 * Denotes percentage of market value ** Denotes securities purchased at a discount from par 7

8 Paper II Co., A-1, P-1 $43,000,000 Disc** 11/26/ % $ - $ 42,584,332 Societe Generale SA, A-1, P-1 50,000, Var. 11/26/ ,000,000 Societe Generale SA, A-1, P-1 50,000,000 Disc** 11/27/ ,511,345 Old Line Funding LLC, A-1+, P-1 50,000, Var. 11/29/ ,000,000 Toronto Dominion Bank, A-1+, P-1 50,000,000 Disc** 11/30/ ,527,305 Ridgefield Funding Co. LLC, A-1, P-1 50,000,000 Disc** 12/5/ ,456,750 United Overseas Bank Ltd. Singapore, A-1+, P-1 50,000,000 Disc** 12/5/ ,509,750 United Overseas Bank Ltd. Singapore, A-1+, P-1 50,000,000 Disc** 12/6/ ,506,665 La Fayette Asset Securitization LLC, A-1, P-1 25,000,000 Disc** 12/11/ ,716,980 LMA Americas LLC, A-1, P-1 50,000,000 Disc** 12/11/ ,433,960 Australia & New Zealand Banking Group Ltd., A-1+, P-1 50,000,000 Disc** 12/17/ ,470,375 Swedbank, A-1+, P-1 50,000,000 Disc** 12/18/ ,464,890 Ontario Teachers Finance Trust, A-1+, P-1 48,500,000 Disc** 1/2/ ,933,156 Bedford Row Funding Corp., A-1+, P-1 50,000, Var. 1/14/ ,000,000 Bedford Row Funding Corp., A-1+, P-1 50,000, Var. 1/22/ ,000,000 KfW, A-1+, P-1 50,000,000 Disc** 1/22/ ,413,500 Bedford Row Funding Corp., A-1+, P-1 50,000, Var. 2/28/ ,000,000 Australia & New Zealand Banking Group Ltd., A-1+, P-1 50,000, Var. 3/8/ ,000,000 Cost of ($0, $7,416,860,564 respectively) - 7,417,523,337 Total Investments in Securities Cost of ($416,264,614, $7,696,262,519 respectively) 416,186,407 7,696,859,308 Deposit Balances in Custodian Banks (2%, 0%, respectively)* Wells Fargo Cash 15,967, % 7/20/ % 8,658,189 15,967,778 Cost of ($8,658,189, $15,967,778 respectively) 8,658,189 15,967,778 Other Assets Accrued Interest Receivable 378,154 2,652,360 Total Assets 425,222,750 7,715,479,446 Less Liabilities Administration and Investment Advisory Fees 43, ,107 Total Liabilities 43, ,107 Net Assets $425,179,339 $7,714,704,339 Components of Capital Capital (Par ) 425,257,546 7,714,107,550 Unrealized Appreciation/(Depreciation) on Investments (78,207) 596,789 Net Assets $425,179,339 $7,714,704,339 Outstanding Participant Shares 425,257,546 7,714,107,550 Net Asset per Share $1.00 $1.00 8

9 STATEMENT OF OPERATIONS (Six Months Ended June 30, 2018) Investment Income $3,121,316 $67,574,287 Expenses: Administration and Investment Advisory Fees 233,491 4,090,665 Net Investment Income 2,887,825 63,483,622 Net Realized Gain/(Loss) on Investments (2) 44,022 Change in Net Unrealized Appreciation/(Depreciation) on Investments (37,391) 1,323,769 Net Realized Gain/(Loss) and Unrealized Gain/(Loss) on Investments (37,393) 1,367,791 Net Increase in Net Assets Resulting from Operations $2,850,432 $64,851,413 STATEMENTS OF CHANGES IN NET ASSETS (Six Months Ended June 30, 2018 and Year Ended December 31, 2017) From Investment Activities: Net Investment Income $2,887,825 $3,540,082 $63,483,622 $75,044,111 Net Change in Unrealized Appreciation/(Depreciation) on Investments (37,391) (60,626) 1,323,769 (1,058,182) Realized Gain/(Loss) on Investments (2) ,022 65,140 Net Increase in Net Assets Resulting from Operations 2,850,432 3,479,726 64,851,413 74,051,069 Distributions to Participants from Net Investment Income (2,887,825) (3,540,082) (63,483,622) (75,044,111) Distributions to Participants from Net Realized Gain/(Loss) 2 (270) (44,022) (65,140) Net Increase/(Decrease) in Net Assets from Share Transactions 1,389,972 (88,645,794) 1,695,433,744 1,675,545,971 Net Increase/(Decrease) in Net Assets 1,352,581 (88,706,420) 1,696,757,513 1,674,487,789 Net Assets: Beginning of Period. 423,826, ,533,178 6,017,946,826 4,343,459,037 End of Period $425,179,339 $423,826,758 $7,714,704,339 $6,017,946,826 9

BOARD OF TRUSTEES Ms. Kristen Colonell Director of Business Services, Sheridan School District #2 Mr. James Covington County Treasurer, Lincoln County Ms.

10 BOARD OF TRUSTEES Ms. Kristen Colonell Director of Business Services, Sheridan School District #2 Mr. James Covington County Treasurer, Lincoln County Ms. Suzi DeYoung Chief Financial Officer, Adams 12 Five Star Schools Mr. A.M. Dominguez, Jr. Board Member, Colorado District Attorney s Council Mr. Mario Dominguez Senior Investment Portfolio Analyst, City and County of Denver Ms. Brigitte Grimm County Treasurer, Adams County Ms. Michelle Miller County Treasurer and Public Trustee, Park County Mr. Brett Ridgway Chief Business Officer, School District 49 - Falcon Mr. James Ruthven Designee, Reserve Metropolitan District #1 Ms. Terry Schueler Financial Services Advisor, St. Vrain Valley S.D. RE-1J Mr. Steven Shipley, CPA Finance Director, S. Suburban Parks & Recreation District Mr. Scott Wright, CPA, CPFO Asst. Town Manager, Town of Avon th Street, Suite 1850 Denver, CO T (303) (Denver Metro) T (877) F (877)

11 On August 3, 2018, the Unaudited Financial Report of the Colorado Local Government Liquid Asset Trust ( ) for the quarter ended June 30, 2018 was approved by the audit committee. This report should be read in conjunction with the Annual Report for the year ended December 31, 2017 and is available on the website ( The unaudited interim financial report has been prepared by and is the responsibility of management. The unaudited financial information is subject to adjustments that may be identified when audit work is performed on the year-end financial statements, which could result in differences from this unaudited financial information. The independent auditor has not performed a review of these interim financial statements. 11

Weighted Average Life 96

Weighted Average Life 96 As of Date: 30/04/2017 Asset Backed Commercial Paper VICTORY RECEIVABLES CORPORATION 92646KS11 01/05/2017 01/05/2017 0.85 950,000.00 949,913.71 Fixed MITSUBISHI UFJ FINANCIAL GROUP INC. 4.60 A-1 P-1 F1