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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 need to draw upon it. <br /> Capital Growth PARS plan <br /> Account Balance <br /> 530.65 <br /> 29.3652 .11 528.94 <br /> 527.80 $28.06 <br /> $26.71 $27.02 $27.01 <br /> $25.67 525.75 <br /> $25 $23.73 $24.03 $24.23 <br /> 52 5(,$22.24522.42 522.81 <br /> 1. <br /> 19 519.95 <br /> ti <br /> •! N .1 N N N N N N N N N N N N ry N N <br /> M. 8 � c c v c a u c n u c a <br /> o r a I o M 3 I n <br /> The Capital Growth portfolio balance was $27.01 million at the end of September <br /> 30, 2023, a decrease of $1.05 million from the prior quarter. The Capital Growth <br /> portfolio quarterly investment return was -3.66 percent, and the inception-to-date <br /> annualized return was 5.03 percent. <br /> SAFEKEEPING OF SECURITIES: <br /> The two portfolios total $45.25 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 />