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The second portfolio (Capital Growth) addresses the longer-term pension liabilities with <br /> initial investment of $21 .3 million. The focus of this portfolio is to earn a higher rate <br /> of return over the next ten years or so before we would need to draw upon it. <br /> Capital Growth PARS plan <br /> Account Balance <br /> $35 <br /> $30.65 <br /> $30 29.36 $29.11 $28.94 <br /> $27.80 <br /> $26.71 <br /> $23.73 $25.67 <br /> $25 $24.03 $24.23 <br /> 56 <br /> $21. <br /> $22.24 $22.42 $22.81 <br /> $19.54 $19.95 <br /> c $20 <br /> O <br /> $16.16 <br /> $15 <br /> $10 <br /> $5.33 <br /> $5 <br /> 00 CO 00 07 01 01 01 0 O 0 O - .. N N N <br /> 1-1 .--i .-I .-1 e-i N NJ N N N N N N N N N <br /> C CL U 1. C Q. U C 0- U '- C CL U C Q <br /> 8) 7 N 0) N 41 " v 3) = N <br /> L/7 0 2 v7 0 v7 0 2 v7 0 V1 <br /> The Capital Growth portfolio's September 30, 2022 balance was $24.23 million, a <br /> decrease of $1.44 million from the June 30, 2022 balance of$25.67 million. Due to <br /> market volatility, the Capital Growth portfolio's quarterly investment return was -5.51 <br /> percent, and the inception-to-date investment return remained positive at over 3.0 <br /> percent. <br /> SAFEKEEPING OF SECURITIES: <br /> The two portfolios total $41.56 million, which are held by a third party for the benefit <br /> of the City of Pleasanton at US Bank. US Bank is the contractual agent for PARS <br /> trust investments that are managed by Highmark Capital Management. <br />