d 2015 - oklahomasupply management (ism) manufacturing index was below expectations at 48.6%, a...

Ken Miller

OKlahOMa State treaSurer

MOnthly inveStMent

PerfOrMance rePOrt

DeceMber 2015

OklahOma State treaSurer

Ken MillerState treaSurer

2300 n. lincoln Blvd., rooM 217oKlahoMa city, oK 73105

[email protected] • (405) 521-3191

February 5, 2016

To the People of Oklahoma:

I am pleased to issue the December monthly investment performance report for the Office of the State Treasurer. I trust you will find it thorough and in keeping with my commitment to provide full and complete disclosure of all activities within my office. As always, my staff and I are available to answer any questions you might have.

Market ConditionsThe benchmark 10-year Treasury ended 2015 at 2.27%, not far from where it began the year at 2.17%. The benchmark’s range during the year was 0.84%. Inflation was slight and attributed to Treasury yields staying low in 2015. The 2-year Treasury had an average yield of 0.67% during the year and finished at 1.05%. The 30-year yielded a low in January of 2.22%, a high of 3.24% in June and ended the year at 3.02%.

In the stock markets, the Dow Jones industrial average ended December down at 17,425 and lost 2.2% in 2015. It had been since 2008 since the Dow posted an annual decline, in which it decreased by 34%. The broader S&P 500 decreased 0.7% for the year and closed at 2,043. The S&P had 220 stocks posting gains, 281 posted losses and three were flat for the year. The tech-heavy Nasdaq composite dropped to 5,007 but reflected a 5.7% gain for the year.

The Federal Open Market Committee (FOMC) unanimously voted to raise its target interest rate range at 25 to 50 basis points, up from the prior 0 to 25 basis points. It was the first rate increase in nearly a decade and the FOMC statement was clear that any future additional increases would be very gradual. The Committee also confirmed they would continue reinvesting principal payments from its holdings of Agency debt, Agency MBS and Treasury securities “until normalization of the level of the federal funds rate is well underway.”

Economic DevelopmentsThe November unemployment rate remained unchanged at 5% and the economy produced 211,000 jobs during the month. The October nonfarm estimate was revised up by 27,000 bringing payrolls to 298,000. The labor force participation rate was at 62.5%. Many more part-time jobs were created than full-time positions which came in at 137,000 and 3,000, respectively.

The Labor Department reported the core consumer price index (CPI), which excludes food and energy, increased 0.2% in November. Core CPI increased 2% from January through November which was the largest gain since May 2014. The gain in core CPI reflected consistent growth in the cost of rents, airline fares, new automobiles and medical care. The producer price index (PPI) increased 0.3% after dropping 0.4% in October. The Institute for Supply Management (ISM) manufacturing index was below expectations at 48.6%, a reading above 50 indicates expanding factory activity. The drop in manufacturing was attributed to reduced new orders, production and raw material inventories. This was the first time in three years the index had contracted.

The Commerce Department said retail sales increased by a minimal 0.2% in November. Core retail sales, which exclude automobiles, gas, building materials and food services, increased 0.6% after an unrevised 0.2% in October.

The total existing-home sales decreased 10.5% to a seasonally adjusted annual rate of 4.76 million in November and previous month’s sales were reduced to 5.32 million. Existing home sales are 3.8% lower than a year ago and reflected the first year-over-year drop since September 2014. The median existing-home price was $220,300 and unsold inventory was at a 5.1 month supply. Foreclosures and short sales increased to 9% up from 6% in October, but unchanged from a year ago. The third quarter gross domestic product (GDP) was reported at 2% quarter-over-quarter, which reflected a decrease from the previous estimate of 2.1%. Private inventory decreasing more than previously estimated was attributed to the slightly lower estimate.

Portfolio Commentary: Performance, Diversification, and StrategyYield on the Treasurer’s portfolio was 1.78% in December and the weighted average maturity was 936 days. The year-to-date monthly average investable base was $3.75 billion. Portfolio diversification continues to be sound. U.S. Treasury Inflation-Protected Securities represented 1% of holdings, and U.S. government sponsored enterprises accounted for approximately 42% of the portfolio. Mortgage-backed securities were 39%, municipal bonds were 1% and Certificates of Deposit represented 3% of assets. Money market mutual funds were 8% and OK Invest, which is comprised of various State agency funds, represented 4% of the total portfolio. State Bond Issues (at 1%) and foreign bonds (at less than 1%) made up the balance of funds invested. In keeping with the State’s statutory investment objectives, the portfolio strategy continues to seek safety, liquidity, and return on investment, in that order. Laddered bond maturities and a buy-and-hold strategy were utilized. Market observation for investment opportunities were considered in order to maximize income within investment parameters and the current low interest rate environment.

CollateralizationAll funds under the control of this office requiring collateralization were secured at rates ranging from 102% to 110%, depending on the type of investment.

Payments, Fees, and CommissionsAll securities were purchased or sold on a net basis utilizing competitive bidding where practicable, with no additional fees or commissions known to the State Treasurer. Bank fees and mutual fund operating expenses are detailed in the attached pages, as is the earnings split between the Treasurer and the master custodian bank on securities lending income.

Total Funds InvestedFunds available for investment, at cost basis, include the State Treasurer’s investments at $3,699,630,086 and State Agency balances in OK Invest at $2,328,179,626 for a total of $6,027,809,712.

Best regards,

KEN MILLERSTATE TREASURER

cc: The Honorable Mary Fallin, GovernorThe Honorable Brian Bingman, President Pro TemporeThe Honorable Jeff Hickman, Speaker of the HouseThe Honorable Scott Pruitt, Attorney GeneralThe Honorable Gary Jones, State Auditor and InspectorMembers: Cash Management and Investment Oversight Commission

Position Report

Weighted Average Maturity

Yield at Purchase Cost Basis

Percent of Portfolio *Market Value

GENERAL REVENUE

U.S. TREASURIES AND AGENCIES Treasury TIPS 485 1.35% 44,106,690$ 1.19% 52,250,404$ Agencies 408 0.75% 1,549,193,101 41.87% 1,541,613,114 Mortgage Backed 1873 3.17% 1,441,078,653 38.95% 1,783,025,256

1105 1.91% 3,034,378,444 82.02% 3,376,888,775

CERTIFICATES OF DEPOSIT 70 0.41% 106,383,799 2.88% 106,383,799

OK INVEST 1 1.84% 126,291,209 3.41% 126,291,209 1 1.84% 126,291,209 3.41% 126,291,209

MONEY MARKET MUTUAL FUNDS 1 0.15% 297,713,429 8.05% 297,713,429

STATE BOND ISSUES 44 3.33% 52,700,000 1.42% 52,700,000 (Private Placement)

MUNICIPAL BOND ISSUES 1466 4.75% 52,702,332 1.42% 56,358,544

FOREIGN BONDS 761 1.47% 29,460,872 0.80% 29,391,928

LINK DEPOSIT

Total Investment Portfolio 936 1.78% 3,699,630,086$ 100% 4,045,727,683$

*J. P. Morgan Chase Co. furnished market value data related to Securities. Other investments including Certificates of Deposit,

Money Market Mutual Funds, and State Bond Issues were valued at 100% of purchase price.

December 31, 2015

Office of the State TreasurerMonthly Report

December 2015Page 1

Portfolio CompositionDecember 31, 2015

Principal Percent

U.S. Treasury Bonds/Notes - 0.00%U.S. Treasury TIPS 44,106,690 1.19%U.S. Agencies 1,549,193,101 41.87%Mortgage Backed 1,441,078,653 38.95%Certificates of Deposit 106,383,799 2.88%OK Invest 126,291,209 3.41%Money Market Mutual Funds* 297,713,429 8.05%State Bond Issues** 52,700,000 1.42%Municipal Bond Issues 52,702,332 1.42%Foreign Bonds 29,460,872 0.80%

TOTAL 3,699,630,086$ 100.00%

* JPMorgan - U.S. Government Capitial Class - Fund 3164 81,676,203

Goldman Sachs - FS Government Institutional - Fund 465 121,354,156

Invesco - Government and Agency Portfolio 94,683,070

** OSLA 2001A-4 12,700,000

** OIFA Refund Bonds 40,000,000

Treasury TIPS/Notes

Money Market Mutual Funds*

Certificates of Deposit

Mortgage Backed

State Bond Issues**

U.S. Agencies

Municipal Bond Issues

OK Invest

Foreign Bonds


December 2015Page 2

Transactions by Broker

Broker Tax ID# City State Purchases Sales(Cost) (Cost)

No Trading Activity

Total Securities -$ -$

Certificates of Deposit 85,354,000

TOTAL 85,354,000$ $ -

December 31, 2015


December 2015Page 3

Transaction by Security Type

Security Purchases Sales(Cost) (Cost)

No Trading Activity

0 0

Certificates of Deposit 85,354,000

TOTAL 85,354,000 $ 0

December 31, 2015


December 2015Page 4

Earnings by Security Type

Interest Earned Net of

Amortization*

Realized Gain

(Loss) Total

Earnings

Weighted Average

Yield

U.S. Treasury Notes/Bonds/Tips 55,647$ $ - 55,647$ 1.35%U.S. Agencies 1,078,203 1,078,203 0.75%Mortgage Backed 4,392,280 4,392,280 3.09%

5,526,130 - 5,526,130 1.82%

Certificates of Deposit 35,836 - 35,836 0.38%

OK Invest 108,972 - 108,972 1.81%

Money Market Mutual Funds 12,060 - 12,060 0.10%

State Bond Issues 338,047 - 338,047 2.42%

Municipal Bond Issues 238,893 238,893 4.79%

Foreign Bonds 38,742 - 38,742 1.47%

Securities Lending Income - - - 0.00%

TOTAL 6,298,681$ $ - 6,298,681$ 1.76%

*Includes accrued interest

December 31, 2015


December 2015Page 5

Comparison of Actual Earnings to Estimated EarningsFiscal Year to Date

Revenues Actual

Revenues Estimate Variance Percent

Investable Base Actual

Investable Base Estimate Variance Percent

Securities 21,653,358 22,732,588 (1,079,230) -4.75% 3,197,788,855 3,431,072,417 (233,283,562) -6.80%

Certificates of Deposit 136,478 137,418 (940) -0.68% 105,696,622 103,540,000 2,156,622 2.08%

OK Invest 1,064,165 1,122,000 (57,835) -5.15% 69,105,214 71,000,000 (1,894,786) -2.67%

Money Market Mutual 37,162 58,680 (21,518) -36.67% 230,453,447 303,218,093 (72,764,646) -24.00%

Foreign Bonds 356,301 362,109 (5,808) 0.00% 29,772,855 31,000,000 (1,227,145) -3.96%

State Bonds 507,683 766,574 (258,891) -33.77% 57,077,957 54,400,000 2,677,957 4.92%

Municipal Bonds 2,118,312 2,177,413 (59,101) -2.71% 59,540,112 55,372,200 4,167,912 7.53%.

25,873,459 27,356,782 (1,483,323) -5.42% 3,749,435,063 4,049,602,710 (300,167,647) -7.41%

In December 2014, the Treasurer estimated earnings to the Board of Equalization for Fiscal Year 2016. The amount estimated was $53,000,000. Year-to-date actual earnings are recorded on a cash basis of accounting.

December 31, 2015


December 2015Page 6

Explanation of Performance ComparisonDecember 31, 2015

The following page presents market rates of return on the Securities portion of the General Accountand of the State's aggregated State Agency Accounts. The figures, which are dollar- and time-weighted, where appropriate, are calculated using the percentage change in market value (inclusive of accrued income) from the end of the prior month to the end of the reporting month. To ensure theintegrity of the data, this information is provided by the Treasurer's custodian bank acting in itscapacity as an external third party. As such, performance measurement is presently confined to those investments which are custodied at J. P. Morgan Chase & Co.

The Treasurer's office is trying to develop a method to report rates of return on all investmentinstruments in the State's portfolio. This is in an effort to report return data in a manner recommended on September 15, 1994, by the Working Group of the Cash Management and Investment Oversight Commission. However, there are technical and conceptual challenges toexpanding performance measurement to other portions of the portfolio. Attempting to applymarket-base pricing calculations to instruments which do not trade, such as Certificates ofDeposit, presents difficulty which is both conceptual and technical in nature.

Benchmark data is also provided on the following page.


December 2015Page 7

Performance Comparison*December 31, 2015

Month** Fiscal YearTo Date**

Securities: General Revenue Account -0.06% 0.60%

Securities: Agency-directed -1.73% -0.26%

Benchmark: ML 1 year US Treasury Note Index 0.00% 0.08%

* Analysis by J. P. Morgan Chase Co.

** Represents dollar- and time-weighted rates of return


December 2015Page 8

$3,000,000

$3,100,000

$3,200,000

$3,300,000

$3,400,000

$3,500,000

$3,600,000

$3,700,000

$3,800,000

$3,900,000

$4,000,000

$4,100,000

$4,200,000

$4,300,000

(in

000

's)

Monthly Investable BaseDecember 2015

FY11 FY12 FY13 FY14 FY15 FY16

3,749,435,063

Office of the State TreasurerMonthlyReport

December 2015Page 9

Banking, Custody and Other Fees

DEPOSITORY BANK TAX ID # CITY STATE AMOUNTArmstrong Bank 73-0496410 Vian/Muskogee OK 204.40 Arvest Bank 71-0118700 Norman OK 485.23 BancFirst 73-1332918 OKC OK 10,583.33 Bank of America 57-0236115 OKC OK 1,418.38 Central National Bank 73-0177591 Alva OK 286.98 Central National Bank 73-0783952 Enid OK 329.84 Federal Reserve Bank 44-0545874 KS OK 1,355.45 First Fidelity Bank, NA 73-1100200 OKC-Moore OK 1,268.27 First National Bank 73-0188428 Clinton OK 617.15 First National Bank 73-0125373 Altus OK 33.31 First United Bank 73-0222372 Durant OK 44.84 Intrust Bank 48-0477525 Wichita KS 546.45 Mabrey Bank 73-0183780 Bixby OK 196.60 JP Morgan/Chase, Oklahoma, NA 73-0777610 OKC OK 30,813.17 The Bank N.A. 73-0344910 McAlester OK 88.38

TOTAL 48,271.78$

Bank service charges include actual amounts invoiced as of the report date. There has been no accrual madefor de minimis bank service charges owed in active bank accounts.

The State Treasurer participates in the following money market mutual funds. The fund managers are compensated for certain operating expenses by deducting a fee from the gross interest earnings.

Fund Manager TIN Fee (Annualized basis) AmountInvesco 76-0574220 0.12% 9,133.45$ Bond Logistix LLC 51-0404065 0.035% 2,663.83$ JP Morgan Securities 23-2694160 0.14% 6,100.36$ Goldman Sachs 06-1287410 0.11% 9,556.14$ BOSC, Inc. 73-1275307 0.07% 6,081.18$

NOTE: Pursuant to Oklahoma State Statute Title 62, Section 89.7, all known fees are to be reported. The

money market mutual fund fees reported above are shown at the contracted rate. Due to the current lowinterest rate environment, a portion of these fees have been voluntarily waived by the provider.An adjustment to actual fees will be presented in the Annual Report.

The State Treasurer participates in a Securities Lending Program with J. P. Morgan Chase & Co. actingas lending agent. J. P. Morgan retains 15% of the revenues generated as compensation for services.Its share for the month was $359.26. Pursuant to Oklahoma State Statute Title 62 Section 90, the StateTreasurer retains the first $450,000 of securities lending revenues in a revolving fund. These funds areused to pay custody and other banking fees. Any revenue not needed for this purpose is deposited tothe General Fund.

December 31, 2015


December 2015Page 10

Transactions by BrokerState Agency Directed

December 31, 2015

Broker Tax ID# City State Purchases Sales(Cost) (Cost)

No Activity $ -

TOTAL -$ $ -



Transactions by Security TypeState Agency Directed

December 31, 2015

Security Purchases Sales(Cost) (Cost)

No Activity $

TOTAL -$ $ -



Agency Directed InvestmentsPosition Report - Securities

December 31, 2015

FUND/ AGENCY SECURITY INTEREST YIELD DAYS TO PAR COST MARKET

AGENCY TYPE RATE MATURITY VALUE

1420A Langston University Mutual Fund 686,746.66$ 686,746.66$ 1,519,547.28$

1150A University of Science and Arts U.S. Treasury Notes/Bonds 7.25 6.82 136 170,000.00 177,942.19 174,117.40

WAM = 20 177,942.19 174,117.40

711-420 Langston University Mutual Fund 422,147.00 422,147.00 548,047.93

1,278,893.66$ 1,286,835.85$ 2,241,712.61$



Agency Directed InvestmentsPosition Report - OK Invest

December 31, 2015ACCOUNT FUND/ AGENCY INTEREST DAYS TO COST/MARKET

AGENCY RATE MATURITY VALUE2113101 1131A Department of Corrections 1.8375 1 (14,558.27)2113104 1131D Department of Corrections 1.8375 1 2,622.872113107 1131G Department of Corrections 1.8375 1 7,086.972113110 1131J Department of Corrections 1.8375 1 (425.91)2113112 1131L Department of Corrections 1.8375 1 (1,052.60)2113119 1131S Department of Corrections 1.8375 1 10.002113120 1131T Department of Corrections 1.8375 1 (3,159.39)2113123 1131W Department of Corrections 1.8375 1 (8,068.77)2113125 1131Y Department of Corrections 1.8375 1 (4,306.14)2113201 1132A Department of Corrections 1.8375 1 (5,465.49)2113204 1132D Department of Corrections 1.8375 1 (73.60)2113206 1132F Department of Corrections 1.8375 1 (338.75)2113208 1132H Department of Corrections 1.8375 1 (23.00)2113301 1133A Department of Corrections 1.8375 1 (1,473.19)2113401 1134A Department of Corrections 1.8375 1 (4,968.69)2113501 1135A Department of Corrections 1.8375 1 (12.00)2113503 1135C Department of Corrections 1.8375 1 (5,161.93)2113801 1138A Department of Corrections 1.8375 1 (3,681.63)2113901 1139A Department of Corrections 1.8375 1 (1,392.84)2114102 1141B Department of Corrections 1.8375 1 (3,538.77)2118506 1185F Corportation Commission 1.8375 1 18,424,175.172137001 1370A OIFA 1.8375 1 35,452,344.252139101 1391A Multiple Injury Trust Fund 1.8375 1 10,601,286.272141001 1410A Commissioners of the Land Office 1.8375 1 55,351,303.352142001 1420A Langston University 1.8375 1 10,803,735.672143500 1435 Oklahoma Lottery Commission 1.8375 1 5,420,674.182143501 1435A Oklahoma Lottery Commission 1.8375 1 3,066,370.702147704 1477D Oklahoma Bureau of Narcotics 1.8375 1 7,233,151.722151500 1515 OPERS 1.8375 1 762,175.632151501 1515A OPERS 1.8375 1 6,665,595.522151502 1515B OPERS 1.8375 1 7,751.862151503 1515C OPERS 1.8375 1 197,536.572151504 1515D OPERS 1.8375 1 3,205,789.202151505 1515E OPERS 1.8375 1 35,631.542151506 1515F OPERS 1.8375 1 13,772.042151510 1515J OPERS 1.8375 1 1,403,369.532153001 1530A Panhandle State University 1.8375 1 4,621,711.012154501 1545A Department of Corrections 1.8375 1 1,942.992155701 1557A OK Police Pension 1.8375 1 44,056,161.732159001 1590A Department of Corrections 1.8375 1 1,942.362169502 1695B Tax Commission 1.8375 1 167,391,137.472169520 1695T Tax Commission 1.8375 1 293,898.482169521 1695U Tax Commission 1.8375 1 13,042,549.902174007 1740G State Treasurer 1.8375 1 575,662.142174010 1740J State Treasurer 1.8375 1 0.072174013 1740M State Treasurer 1.8375 1 0.092183006 1830F DHS - CSED 1.8375 1 10,677,243.467200039 200039 Oklahoma Boll Weevil Eradication 1.8375 1 1,217,225.777200320 200320 Department of Wildlife 1.8375 1 2,136,595.557200359 200359 OERB 1.8375 1 18,046,167.217200370 200370 OIFA 1.8375 1 503,316.847200391 200391 Multiple Injury Trust Fund 1.8375 1 24,896.187200410 200410 Commissioners of the Land Office 1.8375 1 9,383,742.587200435 200435 Oklahoma Lottery Commission 1.8375 1 5,605,078.717200515 200515 OPERS 1.8375 1 73,745.377200557 200557 Oklahoma Police Pension 1.8375 1 (6,411.90)7200588 200588 Real Estate Commission 1.8375 1 538,435.537200830 200830 Department of Human Services 1.8375 1 230,652.327201825 201825 University Hospitals Authority 1.8375 1 35,071,912.057205090 205090 OMES Risk Management Division/DSC 1.8375 1 45,317,585.807205204 205204 JM Davis Arms & Historical Museum 1.8375 1 3,141.067205270 205270 State Election Board 1.8375 1 228,835.277205320 205320 Department of Wildlife 1.8375 1 935,890.257205359 205359 Sustaining OK Energy Resources 1.8375 1 2,369,750.827205435 205435 Oklahoma Lottery Commission 1.8375 1 162,551.567205444 205444 Oklahoma LP Gas Research 1.8375 1 118.207205515 205515 OPERS 1.8375 1 197,909.817205563 205563 OK Bd for Private Vocational Schools 1.8375 1 478,510.07

Note: Rate is net of 1.25 bps management fee


December 2015



AGENCY RATE MATURITY VALUE7205580 205580 Risk Mgmt Dept of DCS 1.8375 1 0.007205630 205630 Oklahoma Department of Securities 1.8375 1 414,983.617205807 205807 Oklahoma Health Care Authority 1.8375 1 1,765,356.367210270 210270 State Election Board 1.8375 1 6,976,151.147210320 210320 Department of Wildlife 1.8375 1 3,159,958.637210350 210350 Oklahoma Historical Society 1.8375 1 26.227210400 210400 Office of Juvenile Affairs 1.8375 1 74,629.377210410 210410 Commissioners of the Land Office 1.8375 1 23,227,801.087210588 210588 Real Estate Commission 1.8375 1 318,519.197210645 210645 Conservation Commission 1.8375 1 6.967215320 215320 Department of Wildlife 1.8375 1 2,466,068.807215444 215444 Oklahoma LP Gas Research 1.8375 1 245.677215566 215566 Tourism & Recreation Department 1.8375 1 13,524,982.837215585 215585 Department of Public Safety 1.8375 1 2,752,014.907215670 215670 JD McCarty Center 1.8375 1 273,419.037216805 216805 Department of Rehabilitation Services 1.8375 1 677,212.747220090 220090 OSF Building Project Fund 1.8375 1 0.427220320 220320 Dept of Wildlife Conservation 1.8375 1 4,020,353.377220585 220585 Department of Public Safety 1.8375 1 3,066,706.127220830 220830 Department of Human Services 1.8375 1 78,907.687225040 225040 Department of Agriculture 1.8375 1 856,600.047225830 225830 Department of Human Services 1.8375 1 2,718,229.507230220 230220 Oklahoma Crime Victims Compensation 1.8375 1 2,677,048.437230345 230345 Department of Transportation 1.8375 1 8,435,934.547230566 230566 Tourism & Recreation Department 1.8375 1 1,164,574.997230695 230695 Tax Commission 1.8375 1 3,691,768.627230807 230807 Health Care Authority 1.8375 1 50,652.247235605 235605 Regents for Higher Education 1.8375 1 9,032,183.047235695 235695 OTC Ad Valorem Admin Protest 1.8375 1 211,006.437240807 240807 Health Care Authority 1.8375 1 12,778,699.567244090 244090 OMES Dept of Central Services 1.8375 1 1,651,342.117245807 245807 Health Care Authority 1.8375 1 9,077,939.857255090 255090 Department of Central Services 1.8375 1 916,587.247255585 255585 Oklahoma Dept of Public Safety 1.8375 1 75,562.707260090 260090 OMES Risk Management Division 1.8375 1 6,235,979.077260452 260452 OK Board of Mental Health 1.8375 1 914,259.257275740 275740 OST - SEED 1.8375 1 56,079.287280090 280090 OMES DCS Property Distribution 1.8375 1 1,725,268.897280345 280345 Department of Transportation 1.8375 1 907,698.357285345 285345 Department of Transportation 1.8375 1 225,643,555.327295090 295090 Emergency & Transportation 1.8375 1 2,110,162.897296150 296150 University of Science & Arts 1.8375 1 37.267303000 303000 Tobacco Litigation Escrow Fund 1.8375 1 27,045.427360566 360566 Tourism & Recreation Department 1.8375 1 12,206,284.287405220 405200 District Attorneys Council 1.8375 1 7,431,583.407410645 410645 Oklahoma Conservation Commission 1.8375 1 (106.51)7415400 415400 Office of Juvenile Affairs 1.8375 1 322,042.057416000 416000 OSF - Oil Overcharge 1.8375 1 262,824.437416160 416160 Department of Commerce 1.8375 1 2,426,404.797419105 419105 OCIA 1.8375 1 41,708.337426000 426000 OSF - Oil Overcharge 1.8375 1 2,196,032.377426160 426160 Department of Commerce 1.8375 1 7,404,768.927430010 430010 Oklahoma State University 1.8375 1 3,601,720.147430011 430011 Oklahoma State University 1.8375 1 189,233.607430012 430012 Oklahoma State University 1.8375 1 877,740.187430013 430013 Oklahoma State University 1.8375 1 1,097,424.647430014 430014 Oklahoma State University 1.8375 1 932,070.707430015 430015 Oklahoma State University 1.8375 1 2,392,477.127430016 430016 Oklahoma State University 1.8375 1 149,645.817430420 430420 Langston University 1.8375 1 173,937.247430461 430461 Rogers State College 1.8375 1 1,027,368.687430505 430505 Northwestern Oklahoma State University 1.8375 1 310,990.247430665 430665 Southwestern Oklahoma State University 1.8375 1 2,428,351.037430760 430760 University of Oklahoma 1.8375 1 20,253,908.077430770 430770 OUHSC 1.8375 1 44,821,803.167430773 430773 Oklahoma State University 1.8375 1 3,785,224.877433105 433105 OCIA 1.8375 1 2,989.137434105 434105 OCIA 1.8375 1 46,747.27



December 2015



AGENCY RATE MATURITY VALUE7436000 436000 OSF - Oil Overcharge 1.8375 1 2,408.527440105 440105 OCIA Operations & Maintenance 1.8375 1 3,685.687444835 444835 Water Resources Board 1.8375 1 6,014,726.417445835 445835 Water Resources Board 1.8375 1 2,440,661.687448105 448105 OCIA 1.8375 1 48,041,719.987455160 455160 Department of Commerce 1.8375 1 238,147.267460100 460100 Cameron University 1.8375 1 272,765.877460760 460760 University of Oklahoma 1.8375 1 152,120.477465105 465105 OCIA 2005A Admin 1.8375 1 34.357469105 469105 OCIA 1.8375 1 518.807470230 470230 East Central University 1.8375 1 66.617471835 471835 Water Resources Board 1.8375 1 616,380.467472835 472835 Water Resources Board 1.8375 1 3,491,033.177473835 473835 Water Resources Board 1.8375 1 27,336,482.377475120 475120 University of Central Oklahoma 1.8375 1 2,913.647475750 475750 Tulsa Community College 1.8375 1 5,402.927475770 475770 OUHSC 1.8375 1 0.377476760 476760 University of Oklahoma 1.8375 1 280,265,362.997477120 477120 University of Central Oklahoma 1.8375 1 74,838.017480230 480230 East Central University 1.8375 1 407.587481230 481230 East Central University 1.8375 1 24.057483633 843633 OCCC 2010 Bond 1.8375 1 7,089.337485014 485014 OKLAHOMA STATE UNIVERSITY 1.8375 1 24,236.587485105 485105 OCIA 1.8375 1 0.007486010 486010 OKLAHOMA STATE UNIVERSITY 1.8375 1 7,576,022.797487105 487105 OCIA 1.8375 1 12,573.01

7514410 514410 Commissioners of the Land Office 1.8375 1 0.257515410 515410 Commissioners of the Land Office 1.8375 1 1,245,547.247516410 516410 Commissioners of the Land Office 1.8375 1 4,879,705.627600010 600010 Oklahoma State University 1.8375 1 9,955,867.907600120 600120 University of Central Oklahoma 1.8375 1 3,730,957.087600150 600150 University of Science & Arts 1.8375 1 744,947.417600230 600230 East Central University 1.8375 1 1,316,252.597600420 600420 Langston University 1.8375 1 673,105.587600485 600485 Northeastern State University 1.8375 1 2,026,263.117600490 600490 Northern Oklahoma College 1.8375 1 631,419.867600505 600505 Northwestern Oklahoma State University 1.8375 1 1,207,303.837600530 600530 Panhandle State University 1.8375 1 299,069.677600660 600660 Southeastern Oklahoma State Unversity 1.8375 1 247,760.547600665 600665 Southwestern Oklahoma State University 1.8375 1 1,955,100.467600760 600760 University of Oklahoma 1.8375 1 4,557,953.157650010 650010 Oklahoma State University 1.8375 1 4,915,269.607650120 650120 University of Central Oklahoma 1.8375 1 1,118,847.347650150 650150 University of Science & Arts 1.8375 1 1,418,642.807650230 650230 East Central University 1.8375 1 1,793,967.387650420 650420 Langston University 1.8375 1 1,858,582.197650485 650485 Northeastern State University 1.8375 1 955,794.457650490 650490 Northern Oklahoma College 1.8375 1 1,248,053.187650505 650505 Northwestern Oklahoma State University 1.8375 1 662,895.517650530 650530 Panhandle State University 1.8375 1 183,030.297650660 650660 Southeastern Oklahoma State Unversity 1.8375 1 37,821.057650665 650665 Southwestern Oklahoma State University 1.8375 1 497,905.307650760 650760 University of Oklahoma 1.8375 1 6,278,085.737700040 700040 Department of Agriculture 1.8375 1 10,103,429.417700041 700041 Western Oklahoma State College 1.8375 1 915,298.877700131 700131 Department of Corrections 1.8375 1 16,516,527.197700240 700240 Eastern Oklahoma State College 1.8375 1 461,972.017700461 700461 Rogers State College 1.8375 1 7,478,025.427700490 700490 Northern Oklahoma College 1.8375 1 5,950,359.237700606 700606 Ardmore Higher Education Center 1.8375 1 345,798.127700633 700633 Oklahoma City Community College 1.8375 1 4,284,017.497700660 700660 Southeastern Oklahoma State University 1.8375 1 949,707.287700760 700760 University of Oklahoma 1.8375 1 108,684,251.017700830 700830 Department of Human Services 1.8375 1 1,711,465.047701010 701010 Oklahoma State University 1.8375 1 3,774,277.967701091 701091 GO Bonds of 1992 - Admin Fund 1.8375 1 1,766.317701150 701150 University of Science & Arts 1.8375 1 3,422,751.517701165 701165 Connors State College 1.8375 1 (577,589.91)



December 2015



AGENCY RATE MATURITY VALUE7701400 701400 Office of Juvenile Affairs 1.8375 1 421,119.617701480 701480 Northeasten Oklahoma A&M College 1.8375 1 745,108.887701605 701605 Regents for Higher Education 1.8375 1 37,902,482.067701650 701650 Department of Veteran Affairs 1.8375 1 466,984.607701750 701750 Tulsa Community College 1.8375 1 870,261.407701770 701770 OUHSC 1.8375 1 419,278,567.787701805 701805 Department of Rehabilitation Services 1.8375 1 184,443.667701865 701865 Workers Compensation Commission 1.8375 1 6,872,462.957702120 702120 University of Central Oklahoma 1.8375 1 29,377,230.717702650 702650 Department of Veteran Affairs 1.8375 1 583,180.237703650 703650 Department of Veteran Affairs 1.8375 1 244,375.307704650 704650 Department of Veteran Affairs 1.8375 1 448,774.847704865 704865 Workers Compensation Commission 1.8375 1 42,842.667705505 705505 Northwestern Oklahoma State University 1.8375 1 507,373.417705650 705650 Department of Veteran Affairs 1.8375 1 234,253.507705865 705865 Workers Compensation Commission 1.8375 1 741,568.037706605 706605 Regents for Higher Education 1.8375 1 1,315.797706650 706650 Department of Veteran Affairs 1.8375 1 207,818.027707605 707605 Regents for Higher Education 1.8375 1 11,862,731.137707650 707650 Department of Veteran Affairs 1.8375 1 242,598.957708108 708108 Carl Albert State College 1.8375 1 5,170,327.697708605 708605 Regents for Higher Education 1.8375 1 131,062.327709605 709605 Regents for Higher Education 1.8375 1 715,370.127710350 710350 Oklahoma Historical Society 1.8375 1 1,163,135.327710452 710452 Oklahoma Department of Mental Health 1.8375 1 942,597.447710605 710605 Regents for Higher Education 1.8375 1 2,677,036.977711185 711185 Corporation Commission 1.8375 1 66,570,705.957711420 711420 Langston University 1.8375 1 46,802.227711452 711452 Griffin Memorial Hospital Rep Payee 1.8375 1 19,119.157711605 711605 Regents for Higher Education 1.8375 1 880,401.907712605 712605 Regents for Higher Education 1.8375 1 153,245.547713605 713605 Regents for Higher Education 1.8375 1 2,353,104.527714605 714605 Regents for Higher Education 1.8375 1 12,521,783.327715605 715605 Regents for Higher Education 1.8375 1 442,050.807718605 718605 Regents for Higher Education 1.8375 1 4,451,697.937719605 719605 Regents for Higher Education 1.8375 1 31,813.567723623 723623 Seminole State College 1.8375 1 116,724.917725100 725100 Cameron University 1.8375 1 3,262,117.707730230 730230 East Central University 1.8375 1 1,702,053.837730830 730830 Department of Human Services 1.8375 1 220,314.177740605 740605 Regents for Higher Education 1.8375 1 16,246,720.577741241 741241 Redlands Community College 1.8375 1 400,177.117745605 745605 Regents for Higher Education 1.8375 1 159,898.237747470 747470 Murray State College 1.8375 1 5,165,901.567750350 750350 Oklahoma Historical Society 1.8375 1 407,316.007750531 750531 Rose State College 1.8375 1 9,587,269.487751485 751485 Northeastern State University 1.8375 1 9,584,869.867752485 752485 Northeastern State University 1.8375 1 2,628,411.157765665 765665 Southwestern Oklahoma State University 1.8375 1 6,964,248.667805370 805370 OIFA 1.8375 1 16,746.227823740 823740 OCIA 2008B Reserve Fund 1.8375 1 486,093.557831740 831740 OCIA 2003E Sinking Fund 1.8375 1 1,930.537835740 835740 OCIA 2005D Sinking Fund 1.8375 1 234,705.317837740 837740 OCIA 2006 Sinking Fund 1.8375 1 691,474.107842740 842740 OCIA 2006D Sinking Fund 1.8375 1 8.097843740 843740 OCIA 2006C Sinking Fund 1.8375 1 705,892.977845740 845740 OCIA 2008A Sinking Fund 1.8375 1 984,793.877846740 846740 OCIA 2008B Sinking Fund 1.8375 1 475,701.117847740 847740 OSF Building Project Fund 1.8375 1 3,450,361.917848740 848740 OSF Building Project Fund 1.8375 1 928,721.827849740 849740 OCIA 2009A Sinking Fund 1.8375 1 948,009.867850740 850740 OCIA 1.8375 1 5,412,403.467851740 851740 OCIA 1.8375 1 3,001,106.857852740 852740 Oklahoma 2010A GO Sinking Fund 1.8375 1 12,709,995.237853740 853740 Oklahoma 2010b GO Sinking Fund 1.8375 1 14,698.497854740 854740 OCIA Endowed Chair Fund 2010 1.8375 1 5,864,378.197855740 855740 OCIA 201A Higher Ed Projects Refunding 1.8375 1 11,147,641.837857740 857740 OCIA 2010A Highway Capital Improvements 1.8375 1 7,664,548.00



December 2015



AGENCY RATE MATURITY VALUE7858740 858740 OCIA 2010b Highway Capital Improvements 1.8375 1 3,565,563.177860740 860740 OCIA 2012 State Highway 1.8375 1 1,522,954.427862740 862740 OCIA 2013 1.8375 1 1,155,621.937864740 864740 OK Bldg Bonds refunding 2013 1.8375 1 436,178.407910467 910467 OSF Escrow Fund 1.8375 1 164,320.027920605 920605 Regents for Higher Education 1.8375 1 15,684,862.59

TOTAL 2,328,179,626.26



December 2015

d 2015 - oklahomasupply management (ism) manufacturing index was below expectations at 48.6%, a...

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