Q1-FY2014. Quarterly Investment Report. Ethel Hart Mutual Endowment Fund. September 30, PDF Free Download

www.cityofsacramento.org/treasurer/ Russell Fehr, City Treasurer Quarterly Investment Report September 30, 2013 Q1-FY2014

INTRODUCTION In 1993, Ethel MacLeod Hart left a bequest of $1,498,719.07 to the City of Sacramento for the.. use, enjoyment and comfort of senior citizens. On the recommendation of the Ethel MacLeod Hart Advisory Committee a permanent endowment of $1,000,000 was established. The balance of the bequest was retained in an operating fund account (Hart Operating Fund) and used over the next fiveyear period for appropriate projects. Annually the amount available for disbursement will be reported to the Board by Rosanne Bernardy, Superintendent of the Office of Human Services. The Hart Trust Endowment Fund ( the Fund ) will be invested with a growth objective. The minimum return objective on these dollars over a five year period is $400,000 or roughly 7% compounded annually. The Advisory Committee is responsible for providing advice to City staff and the City Council on the appropriate use of the Ethel MacLeod Hart Trust Fund for Senior Citizens consistent with the terms of the bequest, the interest of the donor, and the approved general guidelines. The Advisory Committee consists of seven members appointed by the Mayor. Appointees must be residents of the City and at least sixty (60) years of age. Two Advisory Committee members must be representatives of specific organizations: American Association of Retired Persons and Sacramento County Adult and Aging Commission. STRATEGY * Adhere to prudent investment practices to provide for the preservation and growth of principal; and OBJECTIVES * The objective for this fund is growth and capital preservation; and * To earn a total rate of return on the Hart Trust Endowment Fund to meet the return objectives of $400,000 (approximately 7% compounded annually) over subsequent five-year periods; and * Provide liquidity for the Hart Operating Fund for the..use, enjoyment and comfort of senior citizens based on recommendations to City Council by the Advisory Committee. Page 2 of 8

September 30, 2013 Performance Quarter To Date Inception To Date Account 2.93 7.06 SBBIG 0.57 6.02 S&P 500 4.69 5.37 TWR 10 8 6 4 2.93 4.69 7.06 6.02 5.37 2 0.57 0 Quarter To Date Inception To Date Dates Account SBBIG S&P 500 U.S. Treasury Yield Curve - Fiscal Year 2013-14 Capital Market Returns - Quarter Ended September 30, 2013 4.00 12 Interest Rates 3.50 3.00 2.50 2.00 1.50 June 28, 2013 September 30, 2013 Interest Rates 10 8 6 4 6.35 10.17 5.90 Russell 3000 ACWI Ex U.S. Emerging Markets Fixed Income 1.00 0.50 0.00 3 Mo 6 Mo 1 Yr 2 Yr 3 Yr 5 Yr 10 Yr 30 Yr Maturities 2 0 1st Qtr 0.58 0.00 Cash Page 3 of 8

September 30, 2013 Activity From 06-30-13 to 09-30-13 Portfolio Value on 06-30-13 1,998,257 Contributions 0 Withdrawals 0 Realized Gains 0 Unrealized Gains 43,693 Interest 913 Dividends 13,904 Portfolio Value on 09-30-13 2,056,767 Actual Asset Allocation Cash and Equivalents 1.07% Equities 98.93% Top 10 Holdings Securities Market Value Pct. Ishares US Technology ETF 185,180 9.00 Select Sector Spdr Tr Sbi Int-Finl 99,525 4.84 Merck & Co Inc (new) 61,892 3.01 Canadian Pac Ltd New Com 61,650 3.00 Select Sector Spdr Tr Sbi Cons Discr 60,630 2.95 Green Mtn Coffee Roast Com 60,264 2.93 Visa Inc Com Cl A 57,330 2.79 International Bus Mach 55,554 2.70 Pinnacle West Cap Corp 54,740 2.66 Ishares Russell 2000 ETF 53,305 2.59 Page 4 of 8

PORTFOLIO APPRAISAL September 30, 2013 Call Security Unit Total Market Accrued Market Value Pct. Cur. Bond Put Quantity Symbol Security Cost Cost Price Value Interest + Accrd. Int. Assets Yield S & P Moody Status Date CASH AND EQUIVALENTS divacc Dividend Accrual 4,634 4,634 4,634 0.23 4.00 miscintrec Misc Interest Receivable 369 369 369 0.02 4.00 PoolA Pool A Cash 21,089 21,089 21,089 1.03 1.14 intreceiv Pool A Interest Receivable 61 61 61 0.00 1.14 slliab Securities Lending Liability -4,132-4,132-4,132-0.20 0.00 22,020 22,020 22,020 1.07 2.00 COMMON STOCK MATERIALS 400 mon Monsanto C0 New Com 43.22 17,289 104.37 41,748 41,748 2.03 1.65 A- INDUSTRIALS 500 cp Canadian Pac Ltd New Com 62.06 31,030 123.30 61,650 61,650 3.00 1.09 B+ 350 cat Caterpillar Inc Del Com 69.21 24,223 83.40 29,190 29,190 1.42 2.88 A+ 440 de Deere & Co Com 81.10 35,682 81.39 35,812 35,812 1.74 2.51 A 2,000 ge General Electric Co 34.68 69,367 23.89 47,780 47,780 2.32 3.18 A- 350 iyt Ishares Tr Transp Ave Idx 77.24 27,034 117.63 41,170 41,170 2.00 0.96 187,336 215,602 215,602 10.48 2.01 TELECOMMUNICATION SERVICES 1,100 t At&t Inc 37.42 41,159 33.82 37,202 37,202 1.81 5.32 B+ 900 vz Verizon Communications Inc 36.20 32,580 46.67 42,007 42,007 2.04 4.54 B 73,739 79,209 79,209 3.85 4.91 CONSUMER DISCRETIONARY 600 dis Disney (walt) Com 43.82 26,292 64.49 38,694 38,694 1.88 1.16 A+ 800 gmcr Green Mtn Coffee Roast Com 25.95 20,763 75.33 60,264 60,264 2.93 0.00 B+ 400 hd Home Depot Inc 79.80 31,920 75.85 30,340 30,340 1.48 1.53 A 500 mcd Mcdonald's Corp 52.28 26,140 96.21 48,105 48,105 2.34 3.37 A 1,000 xly Select Sector Spdr Tr Sbi Cons 29.60 29,600 60.63 60,630 60,630 2.95 1.35 Discr 134,715 238,033 238,033 11.57 1.41 CONSUMER STAPLES 1,100 mo Altria Group Inc 26.65 29,317 34.35 37,785 37,785 1.84 5.59 A- 400 clx Clorox Co 68.45 27,380 81.72 32,688 32,688 1.59 3.48 A 800 ko Coca Cola Co Com 32.30 25,844 37.88 30,304 30,304 1.47 2.96 A+ 700 mdlz Mondelez Intl Inc Cl A 25.45 17,818 31.42 21,995 21,995 1.07 1.78 B+ 550 pm Philip Morris Intl Inc Com 48.11 26,462 86.59 47,624 47,624 2.32 4.34 126,820 170,396 170,396 8.28 3.88 ENERGY 2,700 amlp Alps Etf Tr Alerian Mlp 15.91 42,963 17.59 47,493 47,493 2.31 5.97 300 cvx Chevron Corporation 102.37 30,711 121.50 36,450 36,450 1.77 3.29 A+ 600 kmp Kinder Morgan Energy Partners Ltd 58.14 34,884 79.83 47,898 47,898 2.33 6.61 Page 5 of 8

PORTFOLIO APPRAISAL September 30, 2013 Call Security Unit Total Market Accrued Market Value Pct. Cur. Bond Put Quantity Symbol Security Cost Cost Price Value Interest + Accrd. Int. Assets Yield S & P Moody Status Date 650 oih Market Vectors Etf Tr Oil Svcs Etf 525 xle Select Sector Spdr Tr Sbi Int-Energy 37.87 24,615 47.08 30,602 30,602 1.49 0.86 75.56 39,667 82.91 43,527 43,527 2.12 1.80 172,842 205,970 205,970 10.01 4.01 FINANCIAL 3,000 nly Annaly Cap Mgmt Inc Com 15.24 45,712 11.58 34,740 34,740 1.69 12.09 B 750 jpm Jpmorgan Chase & Co 45.10 33,825 51.69 38,767 38,767 1.88 2.94 B+ 1,700 pgf Powershares Etf Trust Finl Pfd 21.46 36,482 17.13 29,121 29,121 1.42 6.73 Ptfl 5,000 xlf Select Sector Spdr Tr Sbi Int-Finl 11.50 57,521 19.90 99,525 99,525 4.84 1.63 750 kie Spdr S&p Insurance Etf 40.64 30,480 56.76 42,570 42,570 2.07 1.88 800 usb U. S. Bancorp 31.49 25,192 36.58 29,264 29,264 1.42 2.52 B+ 750 wfc Wells Fargo & Company 41.80 31,350 41.32 30,990 30,990 1.51 2.90 A- 260,562 304,977 304,977 14.83 3.72 HEALTHCARE 325 iyh Ishares US Healthcare ETF 76.89 24,989 106.92 34,749 34,749 1.69 1.23 500 jnj Johnson & Johnson 61.41 30,704 86.69 43,345 43,345 2.11 3.05 A+ 1,300 mrk Merck & Co Inc (new) 47.16 61,307 47.61 61,892 61,892 3.01 3.61 B 1,500 pfe Pfizer Inc 25.02 37,530 28.72 43,087 43,087 2.09 3.34 B+ 325 xbi Spdr Series Trust S&p Biotech 80.12 26,040 129.16 41,977 41,977 2.04 0.29 180,571 225,050 225,050 10.94 2.47 INFORMATION TECHNOLOGY 60 aapl Apple Inc. 632.52 37,951 476.75 28,605 28,605 1.39 2.56 B+ 300 ibm International Bus Mach 122.35 36,705 185.18 55,554 55,554 2.70 2.05 A+ 2,350 iyw Ishares US Technology ETF 44.52 104,623 78.80 185,180 185,180 9.00 1.20 1,000 msft Microsoft Corp 24.44 24,435 33.28 33,280 33,280 1.62 3.37 A- 300 v Visa Inc Com Cl A 72.66 21,797 191.10 57,330 57,330 2.79 0.69 225,511 359,949 359,949 17.50 1.56 UTILITIES 700 d Dominion Res Va New Com 36.45 25,513 62.48 43,736 43,736 2.13 3.60 B+ 1,000 pnw Pinnacle West Cap Corp 47.13 47,127 54.74 54,740 54,740 2.66 3.98 B 72,640 98,476 98,476 4.79 3.81 PASSIVE INDEX 500 iwm Ishares Russell 2000 ETF 81.91 40,955 106.61 53,305 53,305 2.59 1.60 1,492,980 1,992,717 1,992,717 96.89 2.72 AMERICAN DEPOSITORY RECEIPTS ENERGY 1,000 bp BP Plc Sponsored Adr 42.25 42,250 42.03 42,030 42,030 2.04 5.14 42,250 42,030 42,030 2.04 5.14 Page 6 of 8

PURCHASE/SALE AND GAIN/LOSS From 07-01-13 To 09-30-13 Trade Settle Unit 09-30-2013 Date Date Quantity Security Price Amount Price Difference Purchases COMMON STOCK 07-09-2013 07-12-2013 1,400 Annaly Cap Mgmt Inc Com 11.83 16,561 11.58 0 07-09-2013 07-12-2013 400 Home Depot Inc 79.80 31,920 75.85-4 07-10-2013 07-15-2013 750 Wells Fargo & Company 41.80 31,350 41.32 0 79,831 AMERICAN DEPOSITORY RECEIPTS 07-12-2013 07-17-2013 1,000 BP Plc Sponsored Adr 42.25 42,250 42.03 0 42,250 Total Purchases 122,081 Page 8 of 8

www.cityofsacramento.org/treasurer/ Russell Fehr, City Treasurer Quarterly Investment Report December 31, 2013 Q2-FY2014

December 31, 2013 Performance Quarter Inception Since To Date To Date 06-30-13 Account 8.80 7.47 11.98 SBBIG -0.15 5.92 0.42 S&P 500 9.92 5.86 15.07 TWR 18 16 14 12 10 8 8.80 9.92 7.47 5.92 5.86 11.98 15.07 6 4 2 0.42 0-2 (0.15) Quarter To Date Inception To Date Since 06-30-13 Dates Account SBBIG S&P 500 U.S. Treasury Yield Curve - Fiscal Year 2013-14 Capital Market Returns - Quarter Ended December 31, 2013 Interest Rates 4.50 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 September 30, 2013 December 31, 2013 Interest Rates 12 10.10 10 8 6 4.81 4 2 1.86 0.00 0-0.15 Russell 3000 ACWI Ex U.S. Emerging Markets Fixed Income Cash 0.00 3 Mo 6 Mo 1 Yr 2 Yr 3 Yr 5 Yr 10 Yr 30 Yr Maturities -2 2nd Qtr Page 3 of 8

December 31, 2013 Activity From 09-30-13 to 12-31-13 Portfolio Value on 09-30-13 2,056,767 Contributions 0 Withdrawals 0 Realized Gains 0 Unrealized Gains 164,818 Interest 1,115 Dividends 15,048 Portfolio Value on 12-31-13 2,237,748 Actual Asset Allocation Cash and Equivalents 1.71% Equities 98.29% Top 10 Holdings Securities Market Value Pct. Ishares US Technology ETF 207,834 9.29 Select Sector Spdr Tr Sbi Int-Finl 109,300 4.88 Canadian Pac Ltd New Com 75,660 3.38 Select Sector Spdr Tr Sbi Cons Discr 66,830 2.99 Visa Inc Com Cl A 66,804 2.99 Merck & Co Inc (new) 65,065 2.91 Keurig Green Mountain Inc 60,432 2.70 Ishares Russell 2000 ETF 57,680 2.58 International Bus Mach 56,271 2.51 General Electric Co 56,060 2.51 Page 4 of 8

PORTFOLIO APPRAISAL December 31, 2013 Call Security Unit Total Market Accrued Market Value Pct. Cur. Bond Put Quantity Symbol Security Cost Cost Price Value Interest + Accrd. Int. Assets Yield S & P Moody Status Date CASH AND EQUIVALENTS divacc Dividend Accrual 4,155 4,155 4,155 0.19 4.00 fidfund Fidelity Fund 12 12 12 0.00 0.01 miscintrec Misc Interest Receivable 374 374 374 0.02 4.00 PoolA Pool A Cash 37,632 37,632 37,632 1.68 1.72 intreceiv Pool A Interest Receivable 142 142 142 0.01 1.72 slliab Securities Lending Liability -4,132-4,132-4,132-0.18 0.00 38,184 38,184 38,184 1.71 2.18 COMMON STOCK MATERIALS 400 mon Monsanto C0 New Com 43.22 17,289 116.55 46,620 46,620 2.08 1.48 A INDUSTRIALS 500 cp Canadian Pac Ltd New Com 62.06 31,030 151.32 75,660 75,660 3.38 0.88 B+ 350 cat Caterpillar Inc Del Com 69.21 24,223 90.81 31,783 31,783 1.42 2.64 A+ 440 de Deere & Co Com 81.10 35,682 91.33 40,185 40,185 1.80 2.23 A 2,000 ge General Electric Co 34.68 69,367 28.03 56,060 56,060 2.51 3.14 A- 350 iyt Ishares Tr Transp Ave Idx 77.24 27,034 131.90 46,165 46,165 2.06 0.86 187,336 249,854 249,854 11.17 1.83 TELECOMMUNICATION SERVICES 1,100 t At&t Inc 37.42 41,159 35.16 38,676 38,676 1.73 5.23 B+ 900 vz Verizon Communications Inc 36.20 32,580 49.14 44,226 44,226 1.98 4.31 B 73,739 82,902 82,902 3.70 4.74 CONSUMER DISCRETIONARY 600 dis Disney (Walt) Com 43.82 26,292 76.40 45,840 45,840 2.05 1.13 A+ 400 hd Home Depot Inc 79.80 31,920 82.34 32,936 32,936 1.47 1.41 A 800 gmcr Keurig Green Mountain Inc 25.95 20,763 75.54 60,432 60,432 2.70 1.32 B+ 500 mcd Mcdonald's Corp 52.28 26,140 97.03 48,515 48,515 2.17 3.34 A 1,000 xly Select Sector Spdr Tr Sbi Cons 29.60 29,600 66.83 66,830 66,830 2.99 1.16 Discr 134,715 254,553 254,553 11.38 1.64 CONSUMER STAPLES 1,100 mo Altria Group Inc 26.65 29,317 38.39 42,229 42,229 1.89 5.00 A- 400 clx Clorox Co 68.45 27,380 92.76 37,104 37,104 1.66 3.06 A 800 ko Coca Cola Co Com 32.30 25,844 41.31 33,048 33,048 1.48 2.71 A+ 700 mdlz Mondelez Intl Inc Cl A 25.45 17,818 35.30 24,710 24,710 1.10 1.59 B+ 550 pm Philip Morris Intl Inc Com 48.11 26,462 87.13 47,921 47,921 2.14 4.32 126,820 185,012 185,012 8.27 3.57 ENERGY 2,700 amlp Alps Etf Tr Alerian Mlp 15.91 42,963 17.79 48,033 48,033 2.15 6.00 300 cvx Chevron Corporation 102.37 30,711 124.91 37,473 37,473 1.67 3.20 A+ Page 5 of 8

PORTFOLIO APPRAISAL December 31, 2013 Call Security Unit Total Market Accrued Market Value Pct. Cur. Bond Put Quantity Symbol Security Cost Cost Price Value Interest + Accrd. Int. Assets Yield S & P Moody Status Date 600 kmp Kinder Morgan Energy Partners Ltd 650 oih Market Vectors Etf Tr Oil Svcs Etf 525 xle Select Sector Spdr Tr Sbi Int-Energy 58.14 34,884 80.66 48,396 48,396 2.16 6.69 37.87 24,615 48.07 31,245 31,245 1.40 1.13 75.56 39,667 88.51 46,468 46,468 2.08 1.73 172,842 211,615 211,615 9.46 4.01 FINANCIAL 3,000 nly Annaly Cap Mgmt Inc Com 15.24 45,712 9.97 29,910 29,910 1.34 12.04 B 750 jpm Jpmorgan Chase & Co 45.10 33,825 58.48 43,860 43,860 1.96 2.60 B+ 1,700 pgf Powershares Etf Trust Finl Pfd 21.46 36,482 16.94 28,798 28,798 1.29 6.64 Ptfl 5,000 xlf Select Sector Spdr Tr Sbi Int-Finl 11.50 57,521 21.86 109,300 109,300 4.88 1.47 750 kie Spdr S&p Insurance Etf 40.64 30,480 63.09 47,317 47,317 2.11 1.38 800 usb U. S. Bancorp 31.49 25,192 40.40 32,320 32,320 1.44 2.28 B+ 750 wfc Wells Fargo & Company 41.80 31,350 45.40 34,050 34,050 1.52 2.64 A- 260,562 325,555 325,555 14.55 3.24 HEALTHCARE 325 iyh Ishares US Healthcare ETF 76.89 24,989 116.49 37,859 37,859 1.69 1.12 500 jnj Johnson & Johnson 61.41 30,704 91.59 45,795 45,795 2.05 2.88 A+ 1,300 mrk Merck & Co Inc (new) 47.16 61,307 50.05 65,065 65,065 2.91 3.52 B 1,500 pfe Pfizer Inc 25.02 37,530 30.63 45,945 45,945 2.05 3.40 B+ 325 xbi Spdr Series Trust S&p Biotech 80.12 26,040 130.20 42,315 42,315 1.89 0.17 180,571 236,979 236,979 10.59 2.39 INFORMATION TECHNOLOGY 60 aapl Apple Inc. 632.52 37,951 561.02 33,661 33,661 1.50 2.17 B+ 300 ibm International Bus Mach 122.35 36,705 187.57 56,271 56,271 2.51 2.03 A+ 2,350 iyw Ishares US Technology ETF 44.52 104,623 88.44 207,834 207,834 9.29 1.06 1,000 msft Microsoft Corp 24.44 24,435 37.41 37,410 37,410 1.67 2.99 A- 300 v Visa Inc Com Cl A 72.66 21,797 222.68 66,804 66,804 2.99 0.72 225,511 401,980 401,980 17.96 1.41 UTILITIES 700 d Dominion Res Va New Com 36.45 25,513 64.69 45,283 45,283 2.02 3.48 B+ 1,000 pnw Pinnacle West Cap Corp 47.13 47,127 52.92 52,920 52,920 2.36 4.29 B 72,640 98,203 98,203 4.39 3.92 PASSIVE INDEX 500 iwm Ishares Russell 2000 ETF 81.91 40,955 115.36 57,680 57,680 2.58 1.23 1,492,980 2,150,954 2,150,954 96.12 2.55 Page 6 of 8

PORTFOLIO APPRAISAL December 31, 2013 Call Security Unit Total Market Accrued Market Value Pct. Cur. Bond Put Quantity Symbol Security Cost Cost Price Value Interest + Accrd. Int. Assets Yield S & P Moody Status Date AMERICAN DEPOSITORY RECEIPTS ENERGY 1,000 bp BP Plc Sponsored Adr 42.25 42,250 48.61 48,610 48,610 2.17 4.69 42,250 48,610 48,610 2.17 4.69 TOTAL PORTFOLIO 1,573,414 2,237,748 0 2,237,748 100.00 2.59 Page 7 of 8

PURCHASE/SALE AND GAIN/LOSS From 10-01-13 To 12-31-13 Trade Settle Unit Original Date Date Quantity Security Price Amount Price Gain/Loss No transactions within the specified date range were found! Page 8 of 8

www.cityofsacramento.org/treasurer/ Russell Fehr, City Treasurer Quarterly Investment Report March 31, 2014 Q3-FY2014

March 31, 2014 Performance Quarter Inception Since To Date To Date 06-30-13 Account 3.18 7.55 15.55 SBBIG 1.82 5.94 2.25 S&P 500 1.30 5.85 16.56 U.S. Treasury Yield Curve - Fiscal Year 2013-14 Capital Market Returns - Quarter Ended March 31, 2014 Page 3 of 8

March 31, 2014 Activity From 12-31-13 to 03-31-14 Portfolio Value on 12-31-13 2,237,748 Contributions 0 Withdrawals -95,000 Realized Gains 13,591 Unrealized Gains 42,412 Interest 1,264 Dividends 13,433 Portfolio Value on 03-31-14 2,213,448 Top 10 Holdings Securities Market Value Pct. Ishares US Technology ETF 213,991 9.67 Select Sector Spdr Tr Sbi Int-Finl 111,700 5.05 Canadian Pac Ltd New Com 75,215 3.40 Merck & Co Inc (new) 73,801 3.33 Visa Inc Com Cl A 64,758 2.93 Select Sector Spdr Tr Sbi Cons Discr 64,720 2.92 Ishares Russell 2000 ETF 58,170 2.63 International Bus Mach 57,747 2.61 Pinnacle West Cap Corp 54,660 2.47 Keurig Green Mountain Inc 52,795 2.39 Page 4 of 8

PORTFOLIO APPRAISAL March 31, 2014 Call Security Unit Total Market Accrued Market Value Pct. Cur. Bond Put Quantity Symbol Security Cost Cost Price Value Interest + Accrd. Int. Assets Yield S & P Moody Status Date CASH AND EQUIVALENTS divacc Dividend Accrual 4,462 4,462 4,462 0.20 4.00 miscintrec Misc Interest Receivable 335 335 335 0.02 4.00 PoolA Pool A Cash 23,312 23,312 23,312 1.05 1.36 intreceiv Pool A Interest Receivable 67 67 67 0.00 1.36 slliab Securities Lending Liability -4,132-4,132-4,132-0.19 0.00 24,044 24,044 24,044 1.09 2.12 COMMON STOCK MATERIALS 400 mon Monsanto C0 New Com 43.22 17,289 113.77 45,508 45,508 2.06 1.51 A INDUSTRIALS 500 cp Canadian Pac Ltd New Com 62.06 31,030 150.43 75,215 75,215 3.40 0.84 B+ 350 cat Caterpillar Inc Del Com 69.21 24,223 99.37 34,779 34,779 1.57 2.42 A+ 440 de Deere & Co Com 81.10 35,682 90.80 39,952 39,952 1.80 2.25 A 2,000 ge General Electric Co 34.68 69,367 25.89 51,780 51,780 2.34 3.40 A- 350 iyt Ishares Tr Transp Ave Idx 77.24 27,034 135.45 47,407 47,407 2.14 0.91 187,336 249,134 249,134 11.26 1.83 TELECOMMUNICATION SERVICES 1,100 t At&t Inc 37.42 41,159 35.07 38,577 38,577 1.74 5.25 B+ 900 vz Verizon Communications Inc 36.20 32,580 47.57 42,813 42,813 1.93 4.46 B 73,739 81,390 81,390 3.68 4.83 CONSUMER DISCRETIONARY 600 dis Disney (Walt) Com 43.82 26,292 80.07 48,042 48,042 2.17 1.07 A+ 400 hd Home Depot Inc 79.80 31,920 79.13 31,652 31,652 1.43 2.38 A 500 gmcr Keurig Green Mountain Inc 25.95 12,977 105.59 52,795 52,795 2.39 0.95 B+ 500 mcd Mcdonald's Corp 52.28 26,140 98.03 49,015 49,015 2.21 3.31 A 1,000 xly Select Sector Spdr Tr Sbi Cons 29.60 29,600 64.72 64,720 64,720 2.92 1.28 Discr 126,929 246,224 246,224 11.12 1.71 CONSUMER STAPLES 1,100 mo Altria Group Inc 26.65 29,317 37.43 41,173 41,173 1.86 5.13 A- 400 clx Clorox Co 68.45 27,380 88.01 35,204 35,204 1.59 3.23 A 800 ko Coca Cola Co Com 32.30 25,844 38.66 30,928 30,928 1.40 3.16 A+ 700 mdlz Mondelez Intl Inc Cl A 25.45 17,818 34.55 24,185 24,185 1.09 1.62 B+ 550 pm Philip Morris Intl Inc Com 48.11 26,462 81.87 45,028 45,028 2.03 4.59 126,820 176,518 176,518 7.97 3.79 ENERGY 2,700 amlp Alps Etf Tr Alerian Mlp 15.91 42,963 17.66 47,682 47,682 2.15 6.14 300 cvx Chevron Corporation 102.37 30,711 118.91 35,673 35,673 1.61 3.36 A+ 600 kmp Kinder Morgan Energy Partners Ltd 58.14 34,884 73.95 44,370 44,370 2.00 7.36 Page 5 of 8

PORTFOLIO APPRAISAL March 31, 2014 Call Security Unit Total Market Accrued Market Value Pct. Cur. Bond Put Quantity Symbol Security Cost Cost Price Value Interest + Accrd. Int. Assets Yield S & P Moody Status Date 650 oih Market Vectors Etf Tr Oil Svcs Etf 525 xle Select Sector Spdr Tr Sbi Int-Energy 37.87 24,615 50.33 32,714 32,714 1.48 0.00 75.56 39,667 89.06 46,756 46,756 2.11 1.79 172,842 207,196 207,196 9.36 3.97 FINANCIAL 750 jpm Jpmorgan Chase & Co 45.10 33,825 60.71 45,532 45,532 2.06 2.64 B+ 1,700 pgf Powershares Etf Trust Finl Pfd 21.46 36,482 17.79 30,243 30,243 1.37 6.23 Ptfl 5,000 xlf Select Sector Spdr Tr Sbi Int-Finl 11.50 57,521 22.34 111,700 111,700 5.05 1.53 750 kie Spdr S&p Insurance Etf 40.64 30,480 62.22 46,665 46,665 2.11 1.44 800 usb U. S. Bancorp 31.49 25,192 42.86 34,288 34,288 1.55 2.15 B+ 300 v Visa Inc Com Cl A 72.66 21,797 215.86 64,758 64,758 2.93 0.74 750 wfc Wells Fargo & Company 41.80 31,350 49.74 37,305 37,305 1.69 2.41 A- 236,648 370,491 370,491 16.74 2.05 HEALTHCARE 325 iyh Ishares US Healthcare ETF 76.89 24,989 123.03 39,985 39,985 1.81 1.05 500 jnj Johnson & Johnson 61.41 30,704 98.23 49,115 49,115 2.22 2.69 A+ 1,300 mrk Merck & Co Inc (new) 47.16 61,307 56.77 73,801 73,801 3.33 3.10 B 1,500 pfe Pfizer Inc 25.02 37,530 32.12 48,180 48,180 2.18 3.24 B+ 325 xbi Spdr Series Trust S&p Biotech 80.12 26,040 142.48 46,306 46,306 2.09 0.36 180,571 257,387 257,387 11.63 2.24 INFORMATION TECHNOLOGY 60 aapl Apple Inc. 632.52 37,951 536.74 32,204 32,204 1.45 2.27 B+ 300 ibm International Bus Mach 122.35 36,705 192.49 57,747 57,747 2.61 1.97 A+ 2,350 iyw Ishares US Technology ETF 44.52 104,623 91.06 213,991 213,991 9.67 1.08 1,000 msft Microsoft Corp 24.44 24,435 40.99 40,990 40,990 1.85 2.73 A- 203,714 344,932 344,932 15.58 1.54 UTILITIES 700 d Dominion Res Va New Com 36.45 25,513 70.99 49,693 49,693 2.25 3.38 B+ 1,000 pnw Pinnacle West Cap Corp 47.13 47,127 54.66 54,660 54,660 2.47 4.15 B+ 72,640 104,353 104,353 4.71 3.79 PASSIVE INDEX 500 iwm Ishares Russell 2000 ETF 81.91 40,955 116.34 58,170 58,170 2.63 1.25 1,439,482 2,141,304 2,141,304 96.74 2.41 AMERICAN DEPOSITORY RECEIPTS ENERGY 1,000 bp BP Plc Sponsored Adr 42.25 42,250 48.10 48,100 48,100 2.17 4.74 42,250 48,100 48,100 2.17 4.74 Page 6 of 8

PURCHASE/SALE AND GAIN/LOSS From 01-01-14 To 03-31-14 Trade Settle Unit Original Date Date Quantity Security Price Amount Price Gain/Loss Sales COMMON STOCK 03-06-2014 03-11-2014 3,000 Annaly Cap Mgmt Inc Com 11.21 33,629 15.24-12,083 03-06-2014 03-11-2014 300 Keurig Green Mountain Inc 108.44 32,533 25.95 24,747 66,163 12,665 Total Sales 66,163 12,665 Page 8 of 8

www.cityofsacramento.org/treasurer/ Russell Fehr, City Treasurer Quarterly Investment Report June 30, 2014 Q4-FY2014

June 30, 2014 Performance Quarter Inception Since To Date To Date 06-30-13 Account 4.66 7.72 20.94 SBBIG 2.04 5.98 4.34 S&P 500 4.69 6.04 22.04 U.S. Treasury Yield Curve - Fiscal Year 2013-14 Capital Market Returns - Quarter Ended June 30, 2014 Page 3 of 8

June 30, 2014 Activity From 03-31-14 to 06-30-14 Portfolio Value on 03-31-14 2,213,448 Contributions 0 Withdrawals 0 Realized Gains -17,395 Unrealized Gains 105,679 Interest 1,102 Dividends 13,841 Portfolio Value on 06-30-14 2,316,676 Actual Asset Allocation Cash and Equivalents 5.90% Equities 94.10% Top 10 Holdings Securities Market Value Pct. Ishares US Technology ETF 227,668 9.83 Pool A Cash 137,354 5.93 Select Sector Spdr Tr Sbi Int-Finl 113,700 4.91 Canadian Pac Ltd New Com 90,570 3.91 Merck & Co Inc (new) 75,205 3.25 Select Sector Spdr Tr Sbi Cons Discr 66,740 2.88 Visa Inc Com Cl A 63,213 2.73 Pinnacle West Cap Corp 57,840 2.50 International Bus Mach 54,381 2.35 BP Plc Sponsored Adr 52,750 2.28 Page 4 of 8

PORTFOLIO APPRAISAL June 30, 2014 Call Security Unit Total Market Accrued Market Value Pct. Cur. Bond Put Quantity Symbol Security Cost Cost Price Value Interest + Accrd. Int. Assets Yield S & P Moody Status Date CASH AND EQUIVALENTS divacc Dividend Accrual 3,019 3,019 3,019 0.13 4.00 miscintrec Misc Interest Receivable 295 295 295 0.01 4.00 PoolA Pool A Cash 137,354 137,354 137,354 5.93 0.97 intreceiv Pool A Interest Receivable 78 78 78 0.00 0.97 slliab Securities Lending Liability -4,132-4,132-4,132-0.18 0.00 136,613 136,613 136,613 5.90 1.07 COMMON STOCK MATERIALS 400 mon Monsanto C0 New Com 43.22 17,289 124.74 49,896 49,896 2.15 1.38 A INDUSTRIALS 500 cp Canadian Pac Ltd New Com 62.06 31,030 181.14 90,570 90,570 3.91 0.71 B+ 350 cat Caterpillar Inc Del Com 69.21 24,223 108.67 38,034 38,034 1.64 2.58 A+ 440 de Deere & Co Com 81.10 35,682 90.55 39,842 39,842 1.72 2.65 A 2,000 ge General Electric Co 34.68 69,367 26.28 52,560 52,560 2.27 3.35 A- 350 iyt Ishares Tr Transp Ave Idx 77.24 27,034 147.01 51,453 51,453 2.22 0.82 187,336 272,460 272,460 11.76 1.78 TELECOMMUNICATION SERVICES 1,100 t At&t Inc 37.42 41,159 35.36 38,896 38,896 1.68 5.20 B+ 900 vz Verizon Communications Inc 36.20 32,580 48.93 44,037 44,037 1.90 4.33 B 73,739 82,933 82,933 3.58 4.74 CONSUMER DISCRETIONARY 600 dis Disney (Walt) Com 43.82 26,292 85.74 51,444 51,444 2.22 1.00 A+ 400 hd Home Depot Inc 79.80 31,920 80.96 32,384 32,384 1.40 2.32 A 500 mcd Mcdonald's Corp 52.28 26,140 100.74 50,370 50,370 2.17 3.22 A 1,000 xly Select Sector Spdr Tr Sbi Cons 29.60 29,600 66.74 66,740 66,740 2.88 1.29 Discr 113,952 200,938 200,938 8.67 1.87 CONSUMER STAPLES 1,100 mo Altria Group Inc 26.65 29,317 41.94 46,134 46,134 1.99 4.58 A- 400 clx Clorox Co 68.45 27,380 91.40 36,560 36,560 1.58 3.24 A 800 ko Coca Cola Co Com 32.30 25,844 42.36 33,888 33,888 1.46 2.88 A+ 700 mdlz Mondelez Intl Inc Cl A 25.45 17,818 37.61 26,327 26,327 1.14 1.49 B+ 550 pm Philip Morris Intl Inc Com 48.11 26,462 84.31 46,370 46,370 2.00 4.46 126,820 189,279 189,279 8.17 3.56 ENERGY 2,700 amlp Alps Etf Tr Alerian Mlp 15.91 42,963 19.00 51,300 51,300 2.21 5.79 300 cvx Chevron Corporation 102.37 30,711 130.55 39,165 39,165 1.69 3.28 A+ 600 kmp Kinder Morgan Energy Partners Ltd 58.14 34,884 82.21 49,326 49,326 2.13 6.71 Page 5 of 8

PORTFOLIO APPRAISAL June 30, 2014 Call Security Unit Total Market Accrued Market Value Pct. Cur. Bond Put Quantity Symbol Security Cost Cost Price Value Interest + Accrd. Int. Assets Yield S & P Moody Status Date 650 oih Market Vectors Etf Tr Oil Svcs Etf 525 xle Select Sector Spdr Tr Sbi Int-Energy 37.87 24,615 57.76 37,544 37,544 1.62 0.94 75.56 39,667 100.10 52,552 52,552 2.27 1.68 172,842 229,887 229,887 9.92 3.83 FINANCIAL 750 jpm Jpmorgan Chase & Co 45.10 33,825 57.62 43,215 43,215 1.87 2.78 B+ 1,700 pgf Powershares Etf Trust Finl Pfd 21.46 36,482 18.20 30,940 30,940 1.34 6.04 Ptfl 5,000 xlf Select Sector Spdr Tr Sbi Int-Finl 11.50 57,521 22.74 113,700 113,700 4.91 1.56 750 kie Spdr S&p Insurance Etf 40.64 30,480 64.17 48,127 48,127 2.08 1.44 800 usb U. S. Bancorp 31.49 25,192 43.32 34,656 34,656 1.50 2.26 B+ 300 v Visa Inc Com Cl A 72.66 21,797 210.71 63,213 63,213 2.73 0.76 750 wfc Wells Fargo & Company 41.80 31,350 52.56 39,420 39,420 1.70 2.66 A- 236,648 373,271 373,271 16.11 2.10 HEALTHCARE 325 iyh Ishares US Healthcare ETF 76.89 24,989 128.21 41,668 41,668 1.80 1.08 500 jnj Johnson & Johnson 61.41 30,704 104.62 52,310 52,310 2.26 2.68 A+ 1,300 mrk Merck & Co Inc (new) 47.16 61,307 57.85 75,205 75,205 3.25 3.04 B 1,500 pfe Pfizer Inc 25.02 37,530 29.68 44,520 44,520 1.92 3.50 B+ 154,530 213,703 213,703 9.22 2.67 INFORMATION TECHNOLOGY 420 aapl Apple Inc. 90.36 37,951 92.93 39,031 39,031 1.68 2.02 B+ 300 ibm International Bus Mach 122.35 36,705 181.27 54,381 54,381 2.35 2.43 A+ 2,350 iyw Ishares US Technology ETF 44.52 104,623 96.88 227,668 227,668 9.83 1.08 1,000 msft Microsoft Corp 24.44 24,435 41.70 41,700 41,700 1.80 2.69 A- 203,714 362,780 362,780 15.66 1.57 UTILITIES 700 d Dominion Res Va New Com 36.45 25,513 71.52 50,064 50,064 2.16 3.36 B+ 1,000 pnw Pinnacle West Cap Corp 47.13 47,127 57.84 57,840 57,840 2.50 3.92 B+ 1,000 xlu Select Sector Spdr Tr Sbi Int-Utils 42.25 42,250 44.26 44,260 44,260 1.91 3.33 114,890 152,164 152,164 6.57 3.57 1,401,759 2,127,312 2,127,312 91.83 2.51 AMERICAN DEPOSITORY RECEIPTS ENERGY 1,000 bp BP Plc Sponsored Adr 42.25 42,250 52.75 52,750 52,750 2.28 4.44 42,250 52,750 52,750 2.28 4.44 TOTAL PORTFOLIO 1,580,623 2,316,676 0 2,316,676 100.00 2.47 Page 6 of 8

PURCHASE/SALE AND GAIN/LOSS From 04-01-14 To 06-30-14 Trade Settle Unit 06-30-2014 Date Date Quantity Security Price Amount Price Difference Purchases COMMON STOCK 04-15-2014 04-21-2014 1,000 Select Sector Spdr Tr Sbi Int-Utils 42.25 42,250 44.26 2 42,250 Total Purchases 42,250 Page 7 of 8

PURCHASE/SALE AND GAIN/LOSS From 04-01-14 To 06-30-14 Trade Settle Unit Original Date Date Quantity Security Price Amount Price Gain/Loss Sales COMMON STOCK 04-15-2014 04-21-2014 500 Ishares Russell 2000 ETF 109.11 54,555 81.91 13,600 04-15-2014 04-21-2014 500 Keurig Green Mountain Inc 94.64 47,319 25.95 34,343 04-15-2014 04-21-2014 325 Spdr Series Trust S&p Biotech 116.93 38,002 80.12 11,962 139,876 59,904 Total Sales 139,876 59,904 Page 8 of 8

Q1-FY2014. Quarterly Investment Report. Ethel Hart Mutual Endowment Fund. September 30, 2013