Item 4CFtv ofSoutblake � Texas
Investment Portfolio Summary
For the Quarter Ended
December 31, 2003
Prepared by
FIRST SOUTMUST _ASSET MANAGBIENT, INC.
City of Southlake
Quarterly Investment Report
Investment Officers' Certification
For the Quarter Ended
December 31, 2003
This report is prepared for the City of Southlake (the "City ") in accordance with Chapter 2256 of the Public Funds
Investment Act ( "PFIA "). Section 2256.023(a) of the PFIA states that "Not less than quarterly, the investment officer shall
prepare and submit to the governing body of the entity a written report of the investment transactions for all funds
covered by this chapter for the preceding reporting period." This report, which covers the quarter ended December 31,
2003, is signed by the City's investment officers and includes the disclosures required in the PFIA. Market prices were
obtained from independent pricing sources, including Interactive Data Corporation and /or Bloomberg.
The investment portfolio complied with the PFIA and the City's approved Investment Policy and Strategy throughout the
quarter. All investment transactions made in the City's portfolio during this quarter were made on behalf of the City and
were made in full compliance with the PFIA and the City's approved Investment Policy.
City of Southlake
PORTFOLIO SUMMARY
December 31, 2003
48.1%
9%
❑Agency Securities 31,794,531.25
■ Money Markets & Pools 29,519,474.60
City of Southlake
Maturity Summary
December 31, 2003
Maturity Schedule by Percentage
181 to 365 Days
30
30 Days or Less
49%
1 year or More
21%
$35,000,000
$30,000,000
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$0
Maturity Schedule by Amount
30 Days or Less 31 to 90 Days 91 to 180 Days 181 to 365 Days 1 year or More
Security
Description
General Operating
FEDERAL HOME LN MTG CORP
FEDERAL HOME LN BKS
FEDERAL NATL MTG ASSN
FEDERAL HOME LN BKS
FEDERAL NATL MTG ASSN
FEDERAL HOME LN MTG CORP
FEDERAL HOME LN MTG CORP
FEDERAL NATL MTG ASSN MTN
TEXPOOL
Parks Development Corporation
TEXPOOL
TOTAL PORTFOLIO
City of Southlake
DETAIL OF SECURITY HOLDINGS
As
of December 31,
2003
Yield
Security
Settlement Maturity
Par Purchase
Purchase
Book Market
Accrued
Market
Days to
to
CUSIP
Coupon
Date Date
Value Price
Cost
Value Price
Interest
Value
Maturity
Maturity
3134a4px6
3.000
03 -17 -03 07 -15 -04
5,000,000 102.070
5,103,500.00
5,041,744.84 100.969
69,166.67
5,048,437.50
197
1.42
3133mquw2
2.250
04 -24 -03 08 -13 -04
3,000,000 101.021
3,030,642.00
3,014,459.79 100.625
25,500.00
3,018,750.00
226
1.45
31359mkw2
3.500
03 -27 -03 09 -15 -04
3,000,000 102.875
3,086,250.00
3,041,294.14 101.562
30,916.67
3,046,875.00
259
1.51
3133mjus7
3.375
07 -21 -03 11 -15 -04
2,500,000 102.670
2,566,742.38
2,544,037.91 101.781
10,781.25
2,544,531.25
320
1.32
31359mgj5
1.875
07 -08 -03 12 -15 -04
5,000,000 100.876
5,043,800.00
5,029,044.02 100.531
4,166.67
5,026,562.50
350
1.26
3134a4kg6
3.875
08 -26 -03 02 -15 -05
4,000,000 102.978
4,119,120.00
4,090,788.53 102.719
58,555.56
4,108,750.00
412
1.81
3134a4tx2
1.500
08 -26 -03 08 -15 -05
4,000,000 98.689
3,947,560.00
3,956,867.45 99.625
27,333.33
3,985,000.00
593
2.18
3136f3gg2
2.125
05 -15 -03 11 -07 -05
5,000,000 100.297
5,014,843.75
5,011,063.80 100.312
15,937.50
5,015,625.00
677
2.00
texpool
1.033
27,911,600.11
27,911,600.11
27,911,600.11
1.03
31,500,000
59,824,058.24
59,640,900.58
242,357.64
59,706,131.36
1.35
texpool
1.033
1,607,874.49
1,607,874.49
1,607,874.49
1.03
31,500,000
61,431,932.73
61,248,775.07
242,357.64
61,314,005.85
1.35
Security
Description
Agency Securities
FEDERAL HOME LN MTG CORP
FEDERAL HOME LN BKS
FEDERAL NATL MTG ASSN
FEDERAL HOME LN BKS
FEDERAL NATL MTG ASSN
FEDERAL HOME LN MTG CORP
FEDERAL HOME LN MTG CORP
FEDERAL NATL MTG ASSN MTN
Money Markets & Pools
TEXPOOL
I fell re11111061:A97071%
First Southwest Asset Management, Inc.
City of Southlake
YIELD SUMMARY
December 31, 2003
Weighted
Security
Settlement
Maturity Par
Market
Percent of
Days to
Average
Yield to
CUSIP
Date
Date Value
Value
Assets
Maturity
Maturity
Maturity
3134a4px6
03 -17 -03
07 -15 -04 5,000,000
5,048,437.50
8.23
197
16
1.42
3133mquw2
04 -24 -03
08 -13 -04 3,000,000
3,018,750.00
4.92
226
11
1.45
31359mkw2
03 -27 -03
09 -15 -04 3,000,000
3,046,875.00
4.97
259
13
1.51
3133mjus7
07 -21 -03
11 -15 -04 2,500,000
2,544,531.25
4.15
320
13
1.32
31359mgj5
07 -08 -03
12 -15 -04 5,000,000
5,026,562.50
8.20
350
29
1.26
3134a4kg6
08 -26 -03
02 -15 -05 4,000,000
4,108,750.00
6.70
412
28
1.81
3134a4tx2
08 -26 -03
08 -15 -05 4,000,000
3,985,000.00
6.50
593
39
2.18
3136f3gg2
05 -15 -03
11 -07 -05 5,000,000
5,015,625.00
8.18
677
55
2.00
31,500,000
31,794,531.25
51.86
204
1.63
texpool
29,519,474.60
48.14
1.03
31,500,000
61,314,005.85
100.00
204
1.35
First Southwest Asset Management, Inc.
City of Southlake
QUARTERLY MARKET VALUE ASSET RECONCILIATION
From 09 -30 -03 To 12 -31 -03
09 -30 -03 Additions Withdrawals Realized Unrealized Interest 12 -31 -03
Security Market Value Purchases Sales Gains Gains Dividends Market Value
AGENCY COUPON SECURITIES
FEDERAL HOME LN MTG CORP
5,070,312
0
0
0
- 21,875
0
5,048,437
3.000% Due 07 -15 -04
FEDERAL HOME LN BKS
3,026,250
0
0
0
-7,500
0
3,018,750
2.250% Due 08 -13 -04
FEDERAL NATL MTG ASSN
3,064,687
0
0
0
- 17,812
0
3,046,875
3.500% Due 09 -15 -04
FEDERAL HOME LN BKS
2,556,250
0
- 42,187
0
- 11,719
42,187
2,544,531
3.375% Due 11 -15 -04
FEDERAL NATL MTG ASSN
5,035,937
0
- 46,875
0
-9,375
46,875
5,026,562
1.875% Due 12 -15 -04
FEDERAL HOME LN MTG CORP
4,137,500
0
0
0
- 28,750
0
4,108,750
3.875% Due 02 -15 -05
FEDERAL HOME LN MTG CORP
3,998,750
0
0
0
- 13,750
0
3,985,000
1.500% Due 08 -15 -05
FEDERAL NATL MTG ASSN MTN
5,028,125
0
- 53,125
0
- 12,500
53,125
5,015,625
2.125% Due 11 -07 -05
Accrued Interest
179 076
63 281
242 358
Average Capital
Total Gain
IRR for 0.25 Years
TEXPOOL
TEXPOOL
Average Capital
Total Gain before Fees
IRR for 0.25 Years
TOTAL PORTFOLIO
External Additions
External Withdrawals
32,096,889 0 - 142,187
32,034,915
82,187
0.26%
25,430,912 5,070,871 - 1,048,575
25,430,912 5,070,871 - 1,048,575
25,218,978
66,267
0.26%
0 - 123,281 205,469 32,036,889
[Fees]
0
0
66,267 29,519,475
66,267 29,519,475
57,527,800 5,070,871 - 1,190,762 0 - 123,281 271,736 61,556,363
5,070,871
-1,190,762
First Southwest Asset Management, Inc.
City of Southlake
QUARTERLY MARKET VALUE ASSET RECONCILIATION
From 09 -30 -03 To 12 -31 -03
09 -30 -03 Additions Withdrawals Realized Unrealized Interest 12 -31 -03
Security Market Value Purchases Sales Gains Gains Dividends Market Value
Average Capital
Total Gain before Fees
IRR for 0.25 Years
57,253,893
148,454
0.26%
First Southwest Asset Management, Inc.
City of Southlake
AMORTIZATION AND ACCRETION
December 31, 2003
Purchase Information Amortization /Accretion Information
Purchase Month Year Total Adjusted
Quantity Date Price Total Cost To Date To Date To Date Balance Cost
AGENCY COUPON SECURITIES(Straight Line)
FEDERAL HOME LN BKS 3.375% Due 11 -15 -04 (3133mjus7)
FEDERAL HOME LN BKS 2.250% Due 08 -13 -04 (3133mquw2)
FEDERAL HOME LN MTG CORP 3.875% Due 02 -15 -05 (3134a4kg6)
FEDERAL HOME LN MTG CORP 3.000% Due 07 -15 -04 (3134a4px6)
FEDERAL HOME LN MTG CORP 1.500% Due 08 -15 -05 (3134a4tx2)
FEDERAL NATL MTG ASSN 3.500% Due 09 -15 -04 (31359mkw2)
FEDERAL NATL MTG ASSN 1.875% Due 12 -15 -04 (31359mgj5)
FEDERAL NATL MTG ASSN MTN 2.125% Due 11 -07 -05 (3136f3gg2)
2,500,000
07 -21 -03
102.670
3,000,000
04 -24 -03
101.021
4,000,000
08 -26 -03
102.978
5,000,000
03 -17 -03
102.070
4,000,000
08 -26 -03
98.689
3,000,000
03 -27 -03
102.875
5,000,000
07 -08 -03
100.876
5,000,000
05 -15 -03
100.297
2,566,742.38
- 4,291.70
- 22,704.47
- 22,704.47
- 44,037.91
2,544,037.91
3,030,642.00
- 1,990.67
- 16,182.21
- 16,182.21
- 14,459.79
3,014,459.79
4,119,120.00
- 6,861.53
- 28,331.47
- 28,331.47
- 90,788.53
4,090,788.53
5,103,500.00
- 6,601.41
- 61,755.16
- 61,755.16
- 41,744.84
5,041,744.84
3,947,560.00
2,254.15
9,307.45
9,307.45
43,132.55
3,956,867.45
3,086,250.00
- 4,977.26
- 44,955.86
- 44,955.86
- 41,294.14
3,041,294.14
5,043,800.00
- 2,584.38
- 14,755.98
- 14,755.98
- 29,044.02
5,029,044.02
5,014,843.75
- 507.27
- 3,779.95
- 3,779.95
- 11,063.80
5,011,063.80
Total
31,912,458.13 - 25,560.07 - 183,157.66 - 183,157.66 - 229,300.47 31,729,300.47
31,912,458.13 - 25,560.07 - 183,157.66 - 183,157.66 - 229,300.47 31,729,300.47
First Southwest Asset Management, Inc.