1 Investment Report
For Quarter Ended March 31, 2022
City of Hercules, California
City of Hercules, California
Investment Portfolio Summary Report
For the Quarter Ended March 31, 2022
Book % of Average Market
Value Total Yield Value
Cash on Hand $2,255 $2,255
Cash on Deposit 7,987,699 7,987,699
Total Cash on Hand 7,989,954 10.50% 0.05% 7,989,954 Local Agency Investment Fund (LAIF) 43,836,815 57.59% 0.37% 43,343,806 Irrevocable Trust (Pension) 2,144,377 2.82% -5.06% 2,144,377 Irrevocable Trust (OPEB) 2,785,863 3.66% -5.06% 2,785,863 Investments with Bond Trustees 19,366,434 25.44% 0.22% 19,362,897 Total Portfolio $76,123,443 100.00% -0.89% $75,626,897
Amount over (under) Market Value vs. Book Value ($496,546) % of Portfolio -0.6523%
Investments by TypeCash on HandLAIFIrrevocable Trust(Pension)Irrevocable Trust(OPEB)Investments withTrustees City of Hercules
Detail for Investment Portfolio Summary Report
For the Quarter Ended March 31, 2022
(DAYS)
BOOK PURCHASE MATURITY LIFE TO REMAINING PAR MARKET
DESCRIPTION VALUE RATE YIELD DATE DATE MATURITY LIFE VALUE VALUE
CASH ON HAND
PETTY CASH 2,255.00 0.00% 0.00% 2,255.00 $2,255.00
CASH IN BANK
MECHANICS BANK - GENERAL CHECKING 2,805,517.04 0.00% 0.00% 2,805,517.04 2,805,517.04 MECHANICS BANK - HERCULES RDA 5,016,610.92 0.00% 0.00% 5,016,610.92 5,016,610.92 MECHANICS BANK - PD ASSET SEIZURE 145,570.37 0.00% 0.00% 145,570.37 145,570.37 CalTRUST 20,000.77 0.19% 0.19% 12/31/2021 3/31/2022 90 - 20,000.77 20,000.77 TOTAL AND AVERAGES 7,987,699.10 0.05% 0.05% 90 - 7,987,699.10 7,987,699.10
LOCAL AGENCY INVESTMENT FUND (LAIF)
LAIF 43,836,815.38 0.37% 0.37% 12/31/2021 3/31/2022 90 - 43,836,815.38 43,343,806.30
IRREVOCABLE TRUST (PENSION/OPEB)
US BANK MUTUAL (PARS-OPEB) 2,785,862.61 -5.06% -5.06% 12/31/2021 3/31/2022 90 - 2,785,862.61 2,785,862.61 US BANK MUTUAL (PARS-PENSION) 2,144,377.14 -5.06% -5.06% 12/31/2021 3/31/2022 90 - 2,144,377.14 2,144,377.14 TOTAL AND AVERAGES 4,930,239.75 -5.06% -5.06% 90 - 4,930,239.75 4,930,239.75
INVESTMENTS WITH BOND TRUSTEES
GE CAPITAL CORPORATION 14,517.08 3.03% 3.03% 12/31/2021 3/31/2022 90 - 14,517.08 14,517.08 STERLING NATIONAL BANK 543,749.10 0.02% 0.02% 12/31/2021 3/31/2022 90 - 543,749.10 543,749.10
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES RDA SER 05 07 REVENUE FUND) 38.04 0.00% 0.00% 12/31/2021 3/31/2022 90 - 38.04 38.04
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES RDA SER 05 RESERVE FD) 2,812,987.35 0.19% 0.19% 12/31/2021 3/31/2022 90 - 2,812,987.35 2,812,915.05
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES 2007A REVENUE FD) 4.69 0.00% 0.00% 12/31/2021 3/31/2022 90 - 4.69 4.69
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES 2007B REVENUE FD) 2.60 0.00% 0.00% 12/31/2021 3/31/2022 90 - 2.60 2.60
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES 2007B RESERVE A C) 1,082,602.11 0.01% 0.01% 12/31/2021 3/31/2022 90 - 1,082,602.11 1,082,602.11
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES 2007B PROJECT FD ACCOUNT) 52,112.40 0.01% 0.01% 12/31/2021 3/31/2022 90 - 52,112.40 52,112.40
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES 2007A RESERVE A C) 955,997.04 0.01% 0.01% 12/31/2021 3/31/2022 90 - 955,997.04 955,997.04 THE BANK OF NEW YORK (BNY) JM RESERVE FUND55,797.47 0.00% 0.00% 12/31/2021 3/31/2022 90 - 55,797.47 55,797.47
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES RDA 2007A PROJ REIMB ACCT) 2,705.69 0.19% 0.19% 12/31/2021 3/31/2022 90 - 2,705.69 2,705.69
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES RDA 2007A RESERVE ACCT) 3,813,442.63 0.19% 0.19% 12/31/2021 3/31/2022 90 - 3,813,442.63 3,813,442.63
THE BANK OF NEW YORK (BNY) MELLON TRUST
WWPT REVENUE BONDS (COST OF ISSUANCE)2,887.50 0.00% 0.00% 12/31/2021 3/31/2022 90 - 2,887.50 2,887.50
THE BANK OF NEW YORK (BNY) MELLON TRUST
WWPT REVENUE BONDS (ACQUISITON COSTS)8,325,000.00 0.00% 0.00% 12/31/2021 3/31/2022 90 - 8,325,000.00 8,325,000.00 City of Hercules
Detail for Investment Portfolio Summary Report
For the Quarter Ended March 31, 2022
(DAYS)
BOOK PURCHASE MATURITY LIFE TO REMAINING PAR MARKET
DESCRIPTION VALUE RATE YIELD DATE DATE MATURITY LIFE VALUE VALUE
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 REVENUE FUND) 492,093.84 0.19% 0.19% 12/31/2021 3/31/2022 90 - 492,093.84 488,628.71
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV PRIN ACCT)174,023.31 0.19% 0.19% 12/31/2021 3/31/2022 90 - 174,023.31 174,023.31
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV INT ACCT) 113,690.39 0.19% 0.19% 12/31/2021 3/31/2022 90 - 113,690.39 113,690.39
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 RESERVE FD) 920,215.00 0.19% 0.19% 12/31/2021 3/31/2022 90 - 920,215.00 920,215.00
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES BASE RENTAL PYMT) - 0.00% 0.00% 12/31/2021 3/31/2022 90 - - -
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES 2020 INT FD) 4,567.80 0.00% 0.00% 12/31/2021 3/31/2022 90 - 4,567.80 4,567.80 TOTAL AND AVERAGES 19,366,434.04 0.22% 0.22% 90 - 19,366,434.04 19,362,896.61 TOTAL INVESTMENT REPORT $76,123,443.27 -0.89% -0.89% 90 - $76,123,443.27$75,626,896.76 City of Hercules, California
Investment Portfolio Summary Report
For the Quarter Ended March 31, 2022
% of
Cash Description Book Value Total
Bond Trustee $19,366,434 25%
Irrevocable Trust 4,930,240 6%
Restricted 32,978,185 43%
General Fund 17,257,721 23%
Internal Service Funds 1,590,863 2%
$76,123,443 100%
Restricted:
Wastewater 20,894,766
Successor Agency 5,016,611
Development Impact Fees 2,040,625
Landscape & Lighting 2,607,024
Solid Waste 953,936
Gas Tax & Measure J "Street" 728,245
Asset Seizure 145,570
Other Special Revenue Funds 591,408
32,978,185
Bond Trustee 25%Irrevocable Trust 7%Restricted 43%General Fund 23%Internal Service Funds 2%Cash by Fund Mar 0.365
Feb 0.278
Jan 0.234
0.00000875657176851
0.988753538
LAIF Earnings Ratio(2):
LAIF Fair Value Factor(1):
PMIA Daily(1): 0.42%
0.32LAIF Apportionment Rate(2):
PMIA Quarter to Date(1): 0.29%
310PMIA Average Life(1):
Treasuries
66.18%
Agencies
17.78%
Certificates of
Deposit/Bank Notes
7.38%
Time
Deposits
1.99%
Commercial
Paper
6.11%
Corporate
Bonds
0.20%
Loans
0.36%
Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) and interest earned on the Wildfire Fund loan pursuant to Public Utility Code 3288 (a).
Source:
(1) State of California, Office of the Treasurer
(2) State of Calfiornia, Office of the Controller
PMIA Average Monthly
Effective Yields(1)
PMIA/LAIF Performance Report
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 03/31/22
Chart does not include $5,704,000.00 in mortgages, which equatesto 0.003%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
03/31/22
$207.9 billion
City of Hercules
As of March 31, 2022
Presented By
Randall Yurchak, CFA
PARS: City of Hercules
Performance Inception: 6/1/2010
The OPEB plan was invested in account 6746019207, PARS Balanced HighMark Plu s, from June 1, 2010 to December 31, 2017. The Plan was then subsequently in vested in account 6746050104, PARS Moderately Conservative H ighMark Plus, from January 1, 2018 and onwards. R eturns are gross of account level investment adv isory fees and net of any fees, including fees to manage mutual fund or exchange traded fund holdi ngs. Returns for periods over one year are annualized. The information p resented has been obtained from sources believed to be accurate and reliable. Past performance i s not indicative of future returns. Securities are not FDIC insured, ha ve no bank guarantee, and may lose value.
2 Year
to Date
(3 Months) 1 Year 3 Years 5 Years 10 Years
Inception
to Date
06/01/2010
Cash Equivalents .01 .02 .63 .96 .53 .45
Lipper Money Market Funds Index .01 .01 .61 .91 .48 .41 Total Fixed Income -5.51 -3.67 1.88 2.26 2.47 2.97
Bloomberg US Aggregate Bd Index -5.93 -4.15 1.69 2.14 2.24 2.80 Total Equities -4.81 6.01 14.50 12.60 11.49 12.11
Large Cap Funds -4.72 12.22 18.21 15.43 14.07 14.18
S&P 500 Composite Index -4.60 15.65 18.92 15.99 14.64 15.07 Mid Cap Funds -5.59 6.96 14.73 12.44 11.21 12.34
Russell Midcap Index -5.68 6.92 14.89 12.62 12.85 13.50 Small Cap Funds -3.59 -3.11 12.53 12.15 12.84 13.80
Russell 2000 Index -7.53 -5.79 11.74 9.74 11.04 11.60
International Equities -5.95 -4.94 7.91 7.02 5.05 6.03
MSCI EAFE Index -5.91 1.16 7.78 6.72 6.27 6.89
MSCI EM Free Index -6.97 -11.37 4.94 5.98 3.36 4.21
REIT Funds -6.01 21.39 10.87 9.63
Wilshire REIT Index -3.87 29.14 11.94 10.04 9.90 11.43
Total Managed Portfolio -5.06 -.37 5.82 6.24 6.71 7.53
Selected Period Performance
Hercules OPEB
Period Ending: 3/31/2022
Asset Allocation – OPEB Plan
As of March 31, 2022
PARS: City of Hercules
3 Current Asset Allocation Investment Vehicle
Equity Range: 20%-40% 29.09%
Large Cap Core COFYX Columbia Contrarian Core Inst3 2.91% VGIAX Vanguard Growth & Income Adm 5.44%
Large Cap Value DODGX Dodge & Cox Stock Fund 2.51%
IVE iShares S&P 500 Value ETF 1.19%
Large Cap Growth HNACX Harbor Capital Appreciation Retirement 1.66% PRUFX T. Rowe Price Growth Stock Fund I 1.66%
Mid Cap Core IWR iShares Russell Mid-Cap ETF 3.00%
Small Cap Value UBVFX Undiscovered Managers Behavioral Val R6 2.23% Small Cap Growth VBK Vanguard Small-Cap Growth ETF 2.28% International Core DFALX DFA Large Cap International I 1.78% International Value DODFX Dodge & Cox International Stock Fund 0.68% International Growth MGRDX MFS® International Growth R6 0.69% Emerging Markets HHHFX Hartford Schroders Emerging Mkts Eq F 2.01% Real Estate VNQ Vanguard Real Estate ETF 1.06%
Fixed Income Range: 50%-80% 67.85%
Short-Term VFSUX Vanguard Short-Term Investment-Grade Adm 13.32% Intermediate-Term DBLFX DoubleLine Core Fixed Income I 17.77% PTTRX PIMCO Total Return Instl Fund 17.82%
PTRQX Prudential Total Return Bond Q 17.89%
High Yield PHIYX PIMCO High Yield Instl 1.04%
Cash Range: 0%-20% 3.06%
FGZXX First American Government Oblig Z 3.06%
TOTAL 100.00%
PARS: City of Hercules
Performance Inception: 12/01/2017 Initial contribution was made on November 2017.
Returns are gross of account level investment advisory fees and net of any fees , including fees to manage mutual fund or exchange traded fund holdings. Returns for periods over one year are annualized. The information presented has been obtained from sources believed to be accurate and reliable. Past performance is not i ndicative of future returns. Securities are not FDIC insured, have no bank guarantee, and may lose value. 4 Year
to Date
(3 Months) 1 Year 3 Years
Inception
to Date
(52 Months)
Cash Equivalents .01 .02 .63 .99
Lipper Money Market Funds Index .01 .01 .61 .94
Total Fixed Income -5.51 -3.67 1.88 1.98
Bloomberg US Aggregate Bd Index -5.93 -4.15 1.69 1.96
Total Equities -4.81 6.01 14.50 11.17
Large Cap Funds -4.72 12.22 18.21 14.48
S&P 500 Composite Index -4.60 15.65 18.92 15.23
Mid Cap Funds -5.59 6.96 14.73 11.63
Russell Midcap Index -5.68 6.92 14.89 11.81
Small Cap Funds -3.59 -3.11 12.53 10.63
Russell 2000 Index -7.53 -5.79 11.74 8.38
International Equities -5.95 -4.94 7.91 4.42
MSCI EAFE Index -5.91 1.16 7.78 4.42
MSCI EM Free Index -6.97 -11.37 4.94 2.74
REIT Funds -6.01 21.39 10.87 9.78
Wilshire REIT Index -3.87 29.14 11.94 10.59
Total Managed Portfolio -5.06 -.37 5.82 4.90
Selected Period Performance
PARS/PRSP MODERATELY CONSERVATIVE HM
Account 6746050104
Period Ending: 3/31/2022
Asset Allocation – Pension
As of March 31, 2022
PARS: City of Hercules
5 Current Asset Allocation Investment Vehicle
Equity Range: 20%-40% 29.09%
Large Cap Core COFYX Columbia Contrarian Core Inst3 2.91% VGIAX Vanguard Growth & Income Adm 5.44%
Large Cap Value DODGX Dodge & Cox Stock Fund 2.51%
IVE iShares S&P 500 Value ETF 1.19%
Large Cap Growth HNACX Harbor Capital Appreciation Retirement 1.66% PRUFX T. Rowe Price Growth Stock Fund I 1.66%
Mid Cap Core IWR iShares Russell Mid-Cap ETF 3.00%
Small Cap Value UBVFX Undiscovered Managers Behavioral Val R6 2.23% Small Cap Growth VBK Vanguard Small-Cap Growth ETF 2.28% International Core DFALX DFA Large Cap International I 1.78% International Value DODFX Dodge & Cox International Stock Fund 0.68% International Growth MGRDX MFS® International Growth R6 0.69% Emerging Markets HHHFX Hartford Schroders Emerging Mkts Eq F 2.01% Real Estate VNQ Vanguard Real Estate ETF 1.06%
Fixed Income Range: 50%-80% 67.85%
Short-Term VFSUX Vanguard Short-Term Investment-Grade Adm 13.32% Intermediate-Term DBLFX DoubleLine Core Fixed Income I 17.77% PTTRX PIMCO Total Return Instl Fund 17.82%
PTRQX Prudential Total Return Bond Q 17.89%
High Yield PHIYX PIMCO High Yield Instl 1.04%
Cash Range: 0%-20% 3.06%
FGZXX First American Government Oblig Z 3.06%
TOTAL 100.00%
PARS: City of Hercules
6 1-Month 3-Month Year-to- 1-Year 3-Year 5-Year 10-Year Fund Name Return Return Date Return Return Return Return Columbia Contrarian Core Inst3 2.73 -2.96 -2.96 12.72 19.88 15.41 14.63 Vanguard Growth & Income Adm 3.67 -3.90 -3.90 16.04 18.83 15.78 14.65 Dodge & Cox Stock 1.53 1.01 1.01 14.85 17.30 13.27 14.25 iShares S&P 500 Value ETF 2.95 -0.21 -0.21 12.39 13.93 10.96 11.71 Harbor Capital Appreciation Retirement 3.72 -13.59 -13.59 3.49 20.59 20.32 16.25 T. Rowe Price Growth Stock I 0.56 -15.01 -15.01 -0.42 16.53 16.96 15.28 S&P 500 TR USD 3.71 -4.60 -4.60 15.65 18.92 15.99 14.64 iShares Russell Mid-Cap ETF 2.54 -5.72 -5.72 6.72 14.70 12.46 12.68 Russell Mid Cap TR USD 2.56 -5.68 -5.68 6.92 14.89 12.62 12.85 Undiscovered Managers Behavioral Val R6 -0.55 3.53 3.53 13.48 16.01 10.91 12.65 Vanguard Small-Cap Growth ETF 1.22 -11.95 -11.95 -9.25 11.84 12.64 11.92 Russell 2000 TR USD 1.24 -7.53 -7.53 -5.79 11.74 9.74 11.04 Dodge & Cox International Stock 0.84 -0.59 -0.59 2.99 8.01 5.17 6.24 DFA Large Cap International I 0.46 -4.93 -4.93 2.53 8.60 7.23 6.36 Hartford Schroders Emerging Mkts Eq F -3.66 -8.76 -8.76 -16.23 5.92 6.85 4.18 MFS International Growth R6 0.78 -8.13 -8.13 0.02 9.67 10.69 7.69 MSCI EAFE NR USD 0.64 -5.91 -5.91 1.16 7.78 6.72 6.27
MSCI EM NR USD -2.26 -6.97 -6.97 -11.37 4.94 5.98 3.36
Source: SEI Investments, Morningstar Investments
INTERNATIONAL EQUITY FUNDS
Returns less than one year are not annualized. Past performance is no indication of future results. The information presented has been obtained from sources believed to be accurate and reliable. Securities are not FDIC insured, have no bank guarantee and may lose value.
CITY OF HERCULES
For Period Ending March 31, 2022
LARGE CAP EQUITY FUNDS
MID CAP EQUITY FUNDS
SMALL CAP EQUITY FUNDS
PARS: City of Hercules
7 1-Month 3-Month Year-to- 1-Year 3-Year 5-Year 10-Year Fund Name Return Return Date Return Return Return Return Vanguard Real Estate ETF 6.32 -5.97 -5.97 21.45 11.40 9.65 9.69 PIMCO Total Return Instl -3.43 -6.19 -6.19 -4.02 2.18 2.50 2.73 PGIM Total Return Bond R6 -2.43 -6.51 -6.51 -3.29 2.20 2.94 3.50 Vanguard Short-Term Investment-Grade Adm -1.86 -3.80 -3.80 -3.67 1.49 1.78 1.96 DoubleLine Core Fixed Income I -2.36 -4.88 -4.88 -3.19 1.64 2.22 2.87 Bloomberg US Agg Bond TR USD -2.78 -5.93 -5.93 -4.15 1.69 2.14 2.24 PIMCO High Yield Instl -0.89 -4.70 -4.70 -0.91 3.77 4.12 5.14 ICE BofA US High Yield Mstr II Index -0.93 -4.51 -4.51 -0.29 4.40 4.56 5.74 Source: SEI Investments, Morningstar Investments
REAL ESTATE FUNDS
BOND FUNDS
Returns less than one year are not annualized. Past performance is no indication of future results. The information presented has been obtained from sources believed to be accurate and reliable. Securities are not FDIC insured, have no bank guarantee and may lose value.
CITY OF HERCULES
For Period Ending March 31, 2022