HomeMy WebLinkAbout2026 03 GTECGeorgetown Transportation Enhancement Corporation (GTEC)
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
March 31, 2026
Prepared by
Valley View Consulting, L.L.C.
________________________________________________________________________
Leigh Wallace Nathan ParrasChief 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 Transportation Enhancement Corporation (GTEC) 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.
Nathan Parras
Sarah MoodyKarrie Pursley
Christi RawlsSabrina Poldrack
Leigh Wallace
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
NOW/MMA/Pool 33,913,715$ 33,913,715$ 28,471,621$ 28,471,621$ 3.66%
Locked MMA 24,448,018 24,448,018 24,710,878 24,710,878 4.43%
CDs/Securities 38,409,530 38,409,530 38,613,108 38,613,108 3.91%Totals 96,771,263$ 96,771,263$ 91,795,607$ 91,795,607$ 3.97%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 3.97%Total Portfolio 4.01%
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 data 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 Transportation Enhancement Corporation (GTEC)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 $100+. Inflation continues above the FOMC 2% target (Core CPI 2.5% and
Core PCE +/-3.1%). The uncertain world events still influence volatility.
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000 S&P 500
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
5.00
5.50
6.00 US Treasury Historical Yields - Since Nov 2018
Six Month T-Bill Two Year T-Note Ten Year T-Note
3.00
3.20
3.40
3.60
3.80
4.00
4.20
4.40
4.60 Treasury Yield Curves
March 31, 2025 December 31, 2025 March 31, 2026
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
5.00
5.50
6.00 US Treasury Historical Yields - Since 2006
Six Month T-Bill Two Year T-Note Ten Year T-Note
All numbers estimated and subject to change.Valley View Consulting, L.L.C.2
Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
TexPool AAAm 3.67%04/01/26 03/31/26 8,067,519$ 8,067,519$ 1.00 8,067,519$ 1 3.67%
TexSTAR AAAm 3.65%04/01/26 03/31/26 20,404,102 20,404,102 1.00 20,404,102 1 3.65%
Alliance Bank Locked-ICS 4.30%04/16/26 07/16/25 6,185,882 6,185,882 100.00 6,185,882 16 4.39%
SouthSide Bank CD 4.00%04/22/26 10/22/25 5,050,411 5,050,411 100.00 5,050,411 22 4.07%
East West Bank CD 3.76%05/12/26 11/12/25 7,708,597 7,708,597 100.00 7,708,597 42 3.83%
Alliance Bank Locked-ICS 4.35%07/16/26 07/16/25 10,313,462 10,313,462 100.00 10,313,462 107 4.44%
SouthSide Bank CD 3.95%07/22/26 10/22/25 5,049,781 5,049,781 100.00 5,049,781 113 4.01%
Alliance Bank Locked-ICS 4.35%08/25/26 08/25/25 8,211,534 8,211,534 100.00 8,211,534 147 4.44%
Alliance Bank CD 4.30%09/11/26 09/12/25 5,106,968 5,106,968 100.00 5,106,968 164 4.30%
East West Bank CD 3.63%09/18/26 09/18/25 5,097,907 5,097,907 100.00 5,097,907 171 3.70%
East West Bank CD 3.65%11/13/26 02/13/26 5,500,000 5,500,000 100.00 5,500,000 227 3.71%
SouthSide Bank CD 3.72%12/21/26 03/21/26 5,099,444 5,099,444 100.00 5,099,444 265 3.78%
TOTALS 91,795,607$ 91,795,607$ 91,795,607$ 84 3.97%
(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 Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.3
NOW/MMA/Pool
31%
Locked MMA 27%
CDs/Securities 42%
GTEC PORTFOLIO COMPOSITION
$0
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
06/30/25 09/30/25 12/31/25 03/31/26
GTEC PORTFOLIO BALANCES
MMA / Locked MMA TexSTAR TexPool CD
Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.4
GTEC - Maturity Cash Flow Next 12 Months
Month Face Amount Interest Total
Apr-26 11,236,293$ 234,025$ 11,470,318$
May-26 7,708,597 160,043 7,868,639
Jun-26 – 100,231 100,231
Jul-26 15,363,243 132,364 15,495,607
Aug-26 8,211,534 108,511 8,320,044
Sep-26 10,204,876 26,675 10,231,551
Oct-26 – – –
Nov-26 5,500,000 50,600 5,550,600
Dec-26 5,099,444 142,924 5,242,368
Jan-27 – – –
Feb-27 – – –
Mar-27 – – –
TOTALS 63,323,986$ 955,372$ 64,279,358$
$–
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
Face Amount Interest
Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.5
Book & Market Value Comparison
Issuer/Description Yield Maturity
Date
Book Value
12/31/25 Increases Decreases Book Value
03/31/26
Market Value
12/31/25
Change in
Market Value
Market Value
03/31/26
TexPool 3.67%04/01/26 7,840,711$ 226,808$ –$ 8,067,519$ 7,840,711$ 226,808$ 8,067,519$
TexSTAR 3.65%04/01/26 22,917,681 – (2,513,579) 20,404,102 22,917,681 (2,513,579) 20,404,102
Veritex Bank MMA 3.25%04/01/26 3,155,323 – (3,155,323) – 3,155,323 (3,155,323) -
Veritex Community Bank CD 4.43%02/18/26 5,616,354 – (5,616,354) – 5,616,354 (5,616,354) –
Third Coast Bank CD 4.07%03/21/26 5,050,029 – (5,050,029) – 5,050,029 (5,050,029) –
Alliance Bank Locked-ICS 4.39%04/16/26 6,120,646 65,236 – 6,185,882 6,120,646 65,236 6,185,882
SouthSide Bank CD 4.07%04/22/26 5,000,000 50,411 – 5,050,411 5,000,000 50,411 5,050,411
East West Bank CD 3.83%05/12/26 7,637,462 71,134 – 7,708,597 7,637,462 71,134 7,708,597
Alliance Bank Locked-ICS 4.44%07/16/26 10,203,438 110,023 – 10,313,462 10,203,438 110,023 10,313,462
SouthSide Bank CD 4.01%07/22/26 5,000,000 49,781 – 5,049,781 5,000,000 49,781 5,049,781
Alliance Bank Locked-ICS 4.44%08/25/26 8,123,933 87,600 – 8,211,534 8,123,933 87,600 8,211,534
Alliance Bank CD 4.30%09/11/26 5,053,201 53,767 – 5,106,968 5,053,201 53,767 5,106,968
East West Bank CD 3.70%09/18/26 5,052,483 45,424 – 5,097,907 5,052,483 45,424 5,097,907
East West Bank CD 3.71%11/13/26 – 5,500,000 – 5,500,000 – 5,500,000 5,500,000
SouthSide Bank CD 3.78%12/21/26 – 5,099,444 – 5,099,444 – 5,099,444 5,099,444
TOTAL / AVERAGE 3.97%96,771,263$ 11,359,629$ (16,335,285)$ 91,795,607$ 96,771,263$ (4,975,656)$ 91,795,607$
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GTEC - Allocation
Investment
Total GTEC 2024 CO
GTEC
2025 CO
GTEC
TexPool 8,067,519$ 8,067,519$ –$ –$
TexSTAR 20,404,102 9,845,784 5,798 10,552,521
Alliance Bank Locked-ICS 04/16/26 6,185,882 – – 6,185,882
SouthSide Bank CD 04/22/26 5,050,411 – – 5,050,411
East West Bank CD 05/12/26 7,708,597 7,708,597 – –
Alliance Bank Locked-ICS 07/16/26 10,313,462 – – 10,313,462 SouthSide Bank CD 07/22/26 5,049,781 – – 5,049,781
Alliance Bank Locked-ICS 08/25/26 8,211,534 8,211,534 – –
Alliance Bank CD 09/11/26 5,106,968 5,106,968 – –
East West Bank CD 09/18/26 5,097,907 – – 5,097,907 SouthSide Bank CD 11/13/26 5,500,000 5,500,000 – –
Third Coast Bank CD 12/21/26 5,099,444 5,099,444 – –
Totals 91,795,607$ 49,539,845$ 5,798$ 42,249,964$
December 31, 2025
Investment
Total GTEC 2024 CO
GTEC
2025 CO
GTEC
Veritex Community Bank MMA 3,155,323$ 3,155,323$ –$ –$
TexPool 7,840,711 7,840,711 – – TexSTAR 22,917,681 7,323,489 4,937,822 10,656,371
Veritex Community Bank CD 02/18/26 5,616,354 5,616,354 – –
Third Coast Bank CD 03/21/26 5,050,029 5,050,029 – – Alliance Bank Locked-ICS 04/16/26 6,120,646 – – 6,120,646
SouthSide Bank CD 04/22/26 5,000,000 – – 5,000,000
East West Bank CD 05/12/26 7,637,462 7,637,462 – –
Alliance Bank Locked-ICS 07/16/26 10,203,438 – – 10,203,438 SouthSide Bank CD 07/22/26 5,000,000 – – 5,000,000
Alliance Bank Locked-ICS 08/25/26 8,123,933 8,123,933 – –
Alliance Bank CD 09/11/26 5,053,201 5,053,201 – – East West Bank CD 09/18/26 5,052,483 – – 5,052,483
Totals 96,771,263$ 49,800,503$ 4,937,822$ 42,032,939$
March 31, 2026
Book & Market Value
Book & Market Value
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