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Martinez hears investment report: $71 million invested, advisor urges policy options for sector preferences
Summary
Finance staff reported $71 million invested citywide; the council heard an economic update from the city's investment advisor and discussed the ability to exclude sectors or company names from the city's investment portfolio if council desires.
The Martinez City Council received a quarterly investment report Feb. 4 showing a total invested position of approximately $71,000,000 as of Dec. 31, 2025. Courtney Butler, revenue accountant, said about $40 million was in LAIF/CaliforniaClass short-term funds and roughly $31 million was in managed accounts.
John Bridal of Public Trust Advisors reviewed the city's portfolio strategy and an economic outlook. Bridal said the managed portfolio has an average duration near 1.8 years, is concentrated in one-to-three year maturities, and holds primarily U.S. Treasuries and high‑rated corporate notes; the reported book yield was about 3.78 percent. He said the structure aims to preserve safety and liquidity while seeking modest returns.
Council members asked whether the council could direct the advisor to avoid particular sectors or company names; Bridal said yes. "If a council wants to restrict a sector, we can do that," he told the council, noting tobacco was already excluded in policy. The advisor said restrictions can be written into the investment policy and the portfolio manager would implement them.
Public comment and council discussion flagged larger economic considerations, including the Federal Reserve's policy stance and potential effects on portfolio returns. The finance team said it will continue quarterly reporting and that the investment policy will be reviewed annually.
Outcome: informational receive-and-file; no vote required. Staff will post periodic investment updates and return with policy considerations if the council requests sector or company restrictions.
