HomeMy WebLinkAbout2026 03 GEDCOGeorgetown Economic Development Corporation (GEDCO)
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
March 31, 2026
Prepared by
Valley View Consulting, L.L.C.
________________________________________________________________________
Leigh Wallace Nathan Parras
Chief Financial Officer Assistant Chief Financial Officer
________________________________________________________________________
Karrie Pursley Sarah Moody
Treasurer Assistant Chief Financial Officer
________________________________________________________________________
Sabrina Poldrack Christi Rawls
Assistant Treasurer Controller
The investment portfolio of the Georgetown Economic Development Corporation (GEDCO) is in compliance with
the Texas Public Funds Investment Act and the Investment Policy and Strategies.
Disclaimer:These reports were compiled using information provided by the City. No procedures were performed to test the accuracy or
completeness of this information. The market values included in these reports were obtained by Valley View Consulting, L.L.C. from
sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are not necessarily reflective of
current liquidation values. Yield calculations are not determined using standard performance formulas, are not representative of total return
yields and do not account for investment advisor fees.
Leigh Wallace
Karrie Pursley
Sabrina Poldrack
Nathan Parras
Sarah Moody
Christi Rawls
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
MMA 2,500,685$ 2,500,685$ –$ –$ 0.00%
Pools 7,662,181 7,662,181 8,376,520 8,376,520 3.66%
Locked MMA 3,046,475 3,046,475 3,079,325 3,079,325 4.44%
CDs/Securities 2,015,173 2,015,173 2,033,290 2,033,290 3.70%
15,224,514$ 15,224,514$ 13,489,135$ 13,489,135$ 3.84%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 3.84%Total Portfolio 3.84%
Rolling Three Month Treasury 3.69%Rolling Three Month Treasury 3.75%
Rolling Six Month Treasury 3.69%Rolling Six Month Treasury 3.78%
TexPool 3.67%TexPool 3.75%
Interest income provided in separate report.
Summary
December 31, 2025
(1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank, pool, and money market balances.
(2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return
analysis or account for advisory fees.
March 31, 2026
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.1
Economic Overview 3/31/2026
The Federal Open Market Committee (FOMC) maintained the Fed Funds target 3.50% - 3.75% (Effective Fed Funds trade +/-3.64%) at their Jan meeting. Additional rate cuts during 2026 are
uncertain, but could include one late fall. March Non-Farm Payroll added 178k (exceeding the +60k expectation) raising the three month average to +68k. The S&P 500 Stock Index retrenched +/-
8% since touching 7,000. The yield curve is almost fully positive. With the Middle East conflict, Crude Oil continues $100+. Inflation continues above the FOMC 2% target (Core CPI 2.5% and
Core PCE +/-3.1%). The uncertain world events still influence volatility.
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000 S&P 500
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
5.00
5.50
6.00 US Treasury Historical Yields - Since Nov 2018
Six Month T-Bill Two Year T-Note Ten Year T-Note
3.00
3.20
3.40
3.60
3.80
4.00
4.20
4.40
4.60 Treasury Yield Curves
March 31, 2025 December 31, 2025 March 31, 2026
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
5.00
5.50
6.00 US Treasury Historical Yields - Since 2006
Six Month T-Bill Two Year T-Note Ten Year T-Note
All numbers estimated and subject to change.Valley View Consulting, L.L.C.2
Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
TexasDAILY AAAm 3.68%04/01/26 03/31/26 2,517,790$ 2,517,790$ 1.00 2,517,790$ 1 3.68%
TexSTAR AAAm 3.65%04/01/26 03/31/26 5,858,730 5,858,730 1.00 5,858,730 1 3.65%
East West Bank CD 3.63%07/17/26 10/17/25 2,033,290 2,033,290 100.00 2,033,290 108 3.70%
Alliance Bank Locked-ICS 4.35%08/25/26 08/25/25 3,079,325 3,079,325 100.00 3,079,325 147 4.44%
13,489,135$ 13,489,135$ 13,489,135$ 50 3.84%
(1)(2)
March 31, 2026
(1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity.
(2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank accounts, pools, and money market funds.
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.3
Pools 62%Locked MMA 23%
CDs/Securities 15%
GEDCO PORTFOLIO COMPOSITION
$0
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
$18,000,000
06/30/25 09/30/25 12/31/25 03/31/26
GEDCO PORTFOLIO BALANCES
CD
TexasDAILY
TexSTAR
MMA /Locked MMA
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.4
GEDCO - Maturity Cash Flow Next 12 Months
Month Face Amount Interest Total
Apr-26 –$ 17,104$ 17,104$
May-26 – 17,675 17,675
Jun-26 – 17,104 17,104
Jul-26 2,033,290 14,635 2,047,925
Aug-26 3,079,325 8,820 3,088,144
Sep-26 – – –
Oct-26 – – –
Nov-26 – – –
Dec-26 – – –
Jan-27 – – –
Feb-27 – – –
Mar-27 – – –
TOTALS 5,112,615$ 75,337$ 5,187,953$
$–
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
Face Amount Interest
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.5
Book & Market Value Comparison
Issuer/Description Yield Maturity
Date
Book Value
12/31/25 Increases Decreases Book Value
03/31/26
Market Value
12/31/25
Change in
Market Value
Veritex Bank MMA 3.25%04/01/26 2,500,685$ –$ (2,500,685)$ –$ 2,500,685$ (2,500,685)$
TexasDAILY 3.68%04/01/26 2,494,988 22,802 – 2,517,790 2,494,988 22,802
TexSTAR 3.65%04/01/26 5,167,192 691,538 – 5,858,730 5,167,192 691,538
East West Bank CD 3.70%07/17/26 2,015,173 18,117 – 2,033,290 2,015,173 18,117
Alliance Bank Locked-ICS 4.44%08/25/26 3,046,475 32,850 – 3,079,325 3,046,475 32,850
TOTAL / AVERAGE 3.84%15,224,514$ 765,307$ (2,500,685)$ 13,489,135$ 15,224,514$ (1,735,378)$
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.6
Book & Market Value Comparison
Issuer/Description Yield Maturity
Date
Book Value
12/31/25
Veritex Bank MMA 3.25%04/01/26 2,500,685$
TexasDAILY 3.68%04/01/26 2,494,988
TexSTAR 3.65%04/01/26 5,167,192
East West Bank CD 3.70%07/17/26 2,015,173
Alliance Bank Locked-ICS 4.44%08/25/26 3,046,475
TOTAL / AVERAGE 3.84%15,224,514$
Market Value
03/31/26
–$
2,517,790
5,858,730
2,033,290
3,079,325
13,489,135$
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.7