1 Investment Report
For Quarter Ended June 30, 2022
City of Hercules, California
City of Hercules, California
Investment Portfolio Summary Report
For the Quarter Ended June 30, 2022
Book % of Average Market
Value Total Yield Value
Cash on Hand $2,005 $2,005
Cash on Deposit 12,524,513 12,524,513
Total Cash on Hand 12,526,518 17.16% 0.05% 12,526,518 Local Agency Investment Fund (LAIF) 44,868,208 61.48% 0.86% 44,290,548 Irrevocable Trust (Pension) 2,054,252 2.81% -8.03% 2,054,252 Irrevocable Trust (OPEB) 2,559,249 3.51% -8.03% 2,559,249 Investments with Bond Trustees 10,972,241 15.03% 0.51% 10,971,194 Total Portfolio $72,980,468 100.00% -1.32% $72,401,761
Amount over (under) Market Value vs. Book Value ($578,707) % of Portfolio -0.7930%
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 June 30, 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 2,005.00 0.00% 0.00% 2,005.00 $2,005.00
CASH IN BANK
MECHANICS BANK - GENERAL CHECKING 6,737,147.70 0.00% 0.00% 6,737,147.70 6,737,147.70 MECHANICS BANK - HERCULES RDA 5,605,646.02 0.00% 0.00% 5,605,646.02 5,605,646.02 MECHANICS BANK - PD ASSET SEIZURE 161,743.37 0.00% 0.00% 161,743.37 161,743.37 CalTRUST 19,976.39 0.19% 0.19% 4/1/2022 6/30/2022 90 - 19,976.39 19,976.39 TOTAL AND AVERAGES 12,524,513.48 0.05% 0.05% 90 - 12,524,513.48 12,524,513.48
LOCAL AGENCY INVESTMENT FUND (LAIF)
LAIF 44,868,207.82 0.86% 0.86% 4/1/2022 6/30/2022 90 - 44,868,207.82 44,290,548.22
IRREVOCABLE TRUST (PENSION/OPEB)
US BANK MUTUAL (PARS-OPEB) 2,559,248.79 -8.03% -8.03% 4/1/2022 6/30/2022 90 - 2,559,248.79 2,559,248.79 US BANK MUTUAL (PARS-PENSION) 2,054,252.26 -8.03% -8.03% 4/1/2022 6/30/2022 90 - 2,054,252.26 2,054,252.26 TOTAL AND AVERAGES 4,613,501.05 -8.03% -8.03% 90 - 4,613,501.05 4,613,501.05
INVESTMENTS WITH BOND TRUSTEES
GE CAPITAL CORPORATION 4,421.94 3.03% 3.03% 4/1/2022 6/30/2022 90 - 4,421.94 4,421.94
WEBSTER BANK (STERLING NATIONAL BANK
ESCROW) 543,851.06 0.11% 0.11% 4/1/2022 6/30/2022 90 - 543,851.06 543,851.06 THE BANK OF NEW YORK (BNY) JM RESERVE FUND55,797.47 0.00% 0.00% 4/1/2022 6/30/2022 90 - 55,797.47 55,797.47
THE BANK OF NEW YORK (BNY) MELLON TRUST
WWPT REVENUE BONDS (COST OF ISSUANCE)2,887.50 0.00% 0.00% 4/1/2022 6/30/2022 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% 4/1/2022 6/30/2022 90 - 8,325,000.00 8,325,000.00
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 REVENUE FUND) 433,563.35 0.99% 0.99% 4/1/2022 6/30/2022 90 - 433,563.35 432,515.81
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV PRIN ACCT)250,398.26 1.00% 1.00% 4/1/2022 6/30/2022 90 - 250,398.26 250,398.26
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 DEBT SERV INT ACCT) 398,040.37 1.00% 1.00% 4/1/2022 6/30/2022 90 - 398,040.37 398,040.37
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES PFA 09 RESERVE FD) 920,215.00 1.00% 1.00% 4/1/2022 6/30/2022 90 - 920,215.00 920,215.00
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES BASE RENTAL PYMT) 0.00% 0.00% 4/1/2022 6/30/2022 90 - - -
THE BANK OF NEW YORK (BNY) MELLON TRUST
(HERCULES 2020 INT FD) 4,567.80 0.00% 0.00% 4/1/2022 6/30/2022 90 - 4,567.80 4,567.80
THE BANK OF NEW YORK (BNY) MELLON TRUST (SA
HERCULES 2022 A B INTEREST ACCT) 2,867.59 0.00% 0.00% 4/1/2022 6/30/2022 90 - 2,867.59 2,867.59
THE BANK OF NEW YORK (BNY) MELLON TRUST (SA
HERCULES 2022 A COI ACCOUNT) 11,887.37 0.00% 0.00% 4/1/2022 6/30/2022 90 - 11,887.37 11,887.37
THE BANK OF NEW YORK (BNY) MELLON TRUST (SA
HERCULES 2022 B COI ACCOUNT) 18,743.63 0.00% 0.00% 4/1/2022 6/30/2022 90 - 18,743.63 18,743.63 TOTAL AND AVERAGES 10,972,241.34 0.51% 0.51% 90 - 10,972,241.34 10,971,193.80 TOTAL INVESTMENT REPORT $72,980,468.69 -1.32% -1.32% 90 - $72,980,468.69$72,401,761.55 City of Hercules, California
Investment Portfolio Summary Report
For the Quarter Ended June 30, 2022
% of
Cash Description Book Value Total
Bond Trustee $10,972,241 15%
Irrevocable Trust 4,613,501 6%
Restricted 41,700,044 57%
General Fund 14,373,971 20%
Internal Service Funds 1,320,712 2%
$72,980,469 100%
Restricted:
Wastewater 23,360,622
Successor Housing Authority 6,305,180
Successor Agency 5,605,646
Landscape & Lighting 1,608,850
Capital Projects 1,235,572
Solid Waste 989,908
Gas Tax & Measure J "Street" 763,773
Agency Fund 520,086
Development Impact Fees 423,848
BART (Park & Ride) 276,260
Asset Seizure 233,238
ARPA 209,050
AB229 COPS Program 168,011
41,700,044
Bond Trustee 15%Irrevocable Trust 6%Restricted 57%General Fund 20%Internal Service Funds 2%Cash by Fund June 0.861
May 0.684
Apr 0.523
PMIA Quarter to Date(1): 0.69%
311PMIA Average Life(1):
0.75LAIF Apportionment Rate(2):
0.00002057622201151
0.987125414
LAIF Earnings Ratio(2):
LAIF Fair Value Factor(1):
PMIA Daily(1): 0.99%
Treasuries
68.02%
Agencies
18.90%
Certificates of
Deposit/Bank Notes
5.71%
Time
Deposits
1.90%
Commercial
Paper
4.91%
Corporate
Bonds
0.21%
Loans
0.35%
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
as of 06/30/2022
Daily rates are now available here. View PMIA Daily Rates Quarterly Performance
Quarter Ended 06/30/22
Chart does not include $4,693,000.00 in mortgages, which equates to 0.002%. Percentages may not total 100% due to rounding.
Pooled Money Investment Account
Monthly Portfolio Composition (1)
06/30/22
$234.5 billion
City of Hercules
As of June 30, 2022
Presented By
Andrew Brown, 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 3 Months
Year
to Date
(6 Months) 1 Year 3 Years 5 Years 10 Years
Inception
to Date
06/01/2010
Cash Equiv alents .14 .15 .16 .49 .95 .54 .45
Lipper Money Market Funds Index .13 .14 .14 .47 .91 .49 .41 Total Fixed Income -4.99 -10.23 -10.34 -.84 .88 1.76 2.47 Bloomberg US Aggregate Bd Index -4.69 -10.35 -10.29 -.93 .88 1.54 2.34 Total Equities -15.95 -19.99 -16.88 6.78 7.85 10.12 10.24 Large Cap Funds -17.10 -21.01 -14.77 9.76 10.44 12.47 12.12 S&P 500 Composite Index -16.10 -19.96 -10.62 10.60 11.31 12.96 13.08 Mid Cap Funds -16.79 -21.44 -17.10 6.52 7.82 9.68 10.38 Russell Midcap Index -16.85 -21.57 -17.30 6.59 7.96 11.29 11.49 Small Cap Funds -15.83 -18.85 -21.47 4.68 7.53 11.39 11.89 Russell 2000 Index -17.20 -23.43 -25.20 4.21 5.17 9.35 9.62 International Equities -12.39 -17.61 -20.09 2.16 2.86 4.65 4.75 MSCI EAFE Index -14.51 -19.57 -17.77 1.07 2.20 5.40 5.37 MSCI EM Free Index -11.45 -17.63 -25.28 .57 2.18 3.06 3.07 REIT Funds -15.36 -20.45 -7.84 4.34 5.37
Wilshire REIT Index -18.48 -21.64 -6.70 4.01 5.26 7.28 9.31 Total Managed Portfolio -8.03 -12.69 -11.59 1.86 3.79 6.07 6.62 Selected Period Performance
Hercules OPEB
Period Ending: 6/30/2022
Asset Allocation – OPEB Plan
As of June 30, 2022
PARS: City of Hercules
3 Current Asset Allocation Investment Vehicle
Equity Range: 20%-40% 28.02%
Large Cap Core COFYX Columbia Contrarian Core Inst3 2.79% VGIAX Vanguard Growth & Income Adm 5.23%
Large Cap Value DODGX Dodge & Cox Stock Fund 2.52%
IVE iShares S&P 500 Value ETF 1.19%
Large Cap Growth HNACX Harbor Capital Appreciation Retirement 1.61% PRUFX T. Rowe Price Growth Stock Fund I 1.61%
Mid Cap Core IWR iShares Russell Mid-Cap ETF 2.72%
Small Cap Value UBVFX Undiscovered Managers Behavioral Val R6 2.23% Small Cap Growth VBK Vanguard Small-Cap Growth ETF 2.11% International Core DFALX DFA Large Cap International I 1.78% International Value DODFX Dodge & Cox International Stock Fund 0.67% International Growth MGRDX MFS® International Growth R6 0.68% Emerging Markets HHHFX Hartford Schroders Emerging Mkts Eq F 1.86% Real Estate VNQ Vanguard Real Estate ETF 1.04%
Fixed Income Range: 50%-80% 65.68%
Short-Term VFSUX Vanguard Short-Term Investment-Grade Adm 13.42% Intermediate-Term DBLFX DoubleLine Core Fixed Income I 17.04% PTTRX PIMCO Total Return Instl Fund 17.11%
PTRQX Prudential Total Return Bond Q 17.09%
High Yield PHIYX PIMCO High Yield Instl 1.02%
Cash Range: 0%-20% 6.31%
FGZXX First American Government Oblig Z 6.31%
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 3 Months
Year
to Date
(6 Months) 1 Year 3 Years
Inception
to Date
(55 Months)
Cash Equivalents .14 .15 .16 .49 .96
Lipper Money Market Funds Index .13 .14 .14 .47 .92
Total Fixed Income -4.99 -10.23 -10.34 -.84 .74
Bloomberg US Aggregate Bd Index -4.69 -10.35 -10.29 -.93 .79 Total Equities -15.95 -19.99 -16.88 6.78 6.42
Large Cap Funds -17.10 -21.01 -14.77 9.76 9.08
S&P 500 Composite Index -16.10 -19.96 -10.62 10.60 10.04 Mid Cap Funds -16.79 -21.44 -17.10 6.52 6.60
Russell Midcap Index -16.85 -21.57 -17.30 6.59 6.75
Small Cap Funds -15.83 -18.85 -21.47 4.68 5.96
Russell 2000 Index -17.20 -23.43 -25.20 4.21 3.55
International Equities -12.39 -17.61 -20.09 2.16 1.21
MSCI EAFE Index -14.51 -19.57 -17.77 1.07 .67
MSCI EM Free Index -11.45 -17.63 -25.28 .57 -.10
REIT Funds -15.36 -20.45 -7.84 4.34 5.32
Wilshire REIT Index -18.48 -21.64 -6.70 4.01 5.19
Total Managed Portfolio -8.03 -12.69 -11.59 1.86 2.74
Selected Period Performance
PARS/PRSP MODERATELY CONSERVATIVE HM
Account 6746050104
Period Ending: 6/30/2022
Asset Allocation – Pension
As of June 30, 2022
PARS: City of Hercules
5 Current Asset Allocation Investment Vehicle
Equity Range: 20%-40% 28.02%
Large Cap Core COFYX Columbia Contrarian Core Inst3 2.79% VGIAX Vanguard Growth & Income Adm 5.23%
Large Cap Value DODGX Dodge & Cox Stock Fund 2.52%
IVE iShares S&P 500 Value ETF 1.19%
Large Cap Growth HNACX Harbor Capital Appreciation Retirement 1.61% PRUFX T. Rowe Price Growth Stock Fund I 1.61%
Mid Cap Core IWR iShares Russell Mid-Cap ETF 2.72%
Small Cap Value UBVFX Undiscovered Managers Behavioral Val R6 2.23% Small Cap Growth VBK Vanguard Small-Cap Growth ETF 2.11% International Core DFALX DFA Large Cap International I 1.78% International Value DODFX Dodge & Cox International Stock Fund 0.67% International Growth MGRDX MFS® International Growth R6 0.68% Emerging Markets HHHFX Hartford Schroders Emerging Mkts Eq F 1.86% Real Estate VNQ Vanguard Real Estate ETF 1.04%
Fixed Income Range: 50%-80% 65.68%
Short-Term VFSUX Vanguard Short-Term Investment-Grade Adm 13.42% Intermediate-Term DBLFX DoubleLine Core Fixed Income I 17.04% PTTRX PIMCO Total Return Instl Fund 17.11%
PTRQX Prudential Total Return Bond Q 17.09%
High Yield PHIYX PIMCO High Yield Instl 1.02%
Cash Range: 0%-20% 6.31%
FGZXX First American Government Oblig Z 6.31%
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 -7.86 -16.27 -18.76 -12.91 11.28 10.53 13.12 Dodge & Cox Stock I -9.31 -12.42 -11.53 -7.57 11.27 9.92 13.09 Harbor Capital Appreciation Retirement -7.93 -25.46 -35.59 -32.06 8.25 12.14 13.69 iShares S&P 500 Value ETF -8.25 -11.32 -11.51 -5.04 8.05 8.01 10.78 Vanguard Growth & Income Adm -8.77 -15.78 -19.06 -9.83 10.87 11.32 13.00 T. Rowe Price Growth Stock I -8.62 -25.40 -36.60 -34.11 4.36 8.70 12.52 S&P 500 TR USD -8.25 -16.10 -19.96 -10.62 10.60 11.31 12.96 iShares Russell Mid-Cap ETF -9.99 -16.88 -21.63 -17.43 6.42 7.81 11.11 Russell Mid Cap TR USD -9.98 -16.85 -21.57 -17.30 6.59 7.96 11.29 Undiscovered Managers Behavioral Val R6 -9.94 -11.05 -7.91 -3.11 10.76 8.19 11.83 Vanguard Small-Cap Growth ETF -8.00 -20.44 -29.94 -31.77 2.34 6.81 9.82 Russell 2000 TR USD -8.22 -17.20 -23.43 -25.20 4.21 5.17 9.35 Dodge & Cox International Stock I -8.77 -9.49 -10.02 -10.93 3.52 2.14 6.11 DFA Large Cap International I -9.31 -13.22 -17.50 -15.71 2.48 3.01 5.62 MFS International Growth R6 -6.78 -12.24 -19.38 -17.98 3.33 5.71 7.08 MSCI EAFE NR USD -9.28 -14.51 -19.57 -17.77 1.07 2.20 5.40 Hartford Schroders Emerging Mkts Eq F -6.94 -12.08 -19.78 -28.42 0.75 2.70 3.53 MSCI EM NR USD -6.65 -11.45 -17.63 -25.28 0.57 2.18 3.06 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 June 30, 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 -7.51 -15.47 -20.52 -8.07 4.73 5.69 7.47 DoubleLine Core Fixed Income I -2.01 -5.50 -10.11 -10.18 -1.24 0.74 2.08 PIMCO Total Return Instl -2.07 -5.46 -11.31 -11.11 -0.77 0.99 1.87 Vanguard Short-Term Inv estment-Grade Adm -1.30 -1.86 -5.58 -6.10 0.22 1.25 1.70 PGIM Total Return Bond R6 -2.59 -6.71 -12.78 -12.53 -1.34 1.08 2.56 Bloomberg US Agg Bond TR USD -1.57 -4.69 -10.35 -10.29 -0.93 0.88 1.54 PIMCO High Yield Instl -6.81 -9.69 -13.94 -12.68 -0.62 1.53 3.92 ICE BofA US High Yield Mstr II Index -6.81 -9.97 -14.04 -12.66 -0.04 1.95 4.44 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 June 30, 2022