Portfolio Characteristics


As of 12/31/2019

Core Bond Fund
Bloomberg Barclays U.S. Aggregate Bond Index
Turnover (annualized % as of fiscal year end 10/31)
61
Number of Issues
181
11037
Average Market Coupon (%)
3.68
3.23
Yield to Maturity (%)
2.50
2.31
Weighted Avg. Maturity (yrs)
7.82
8.06
Weighted Avg. Duration (yrs)
5.76
5.87

For definitions of any of these terms, please visit our Financial Glossary.

Top 10 Holdings

As of 12/31/2019

Company Name
Maturity Date
Coupon Rate (%)
Value ($000's)
% of Net Assets
U.S. Treasury Notes
6/30/2024
1.8
5,728
6.6
U.S. Treasury Bonds
5/15/2038
4.5
3,828
4.4
U.S. Treasury Bonds
8/15/2048
3.0
3,138
3.6
Government National Mortgage Association
6/20/2045
4.5
1,328
1.5
Federal National Mortgage Association
8/1/2049
5.0
1,256
1.4
Federal National Mortgage Association
9/1/2047
4.0
1,228
1.4
Gmf Floorplan Owner Revolving Trust
1/18/2022
2.2
1,194
1.4
U.S. Small Business Administration
12/1/2036
2.8
1,179
1.4
Federal National Mortgage Association
10/1/2037
3.5
1,100
1.3
Federal National Mortgage Association
2/1/2047
4.0
1,055
1.2

Full Holdings

As of 12/31/2019

Company Name [Ticker]
Country
Shares (000's)
Current Price ($)
Market Value ($000's)
% of Net Assets
U.S. Treasury Notes
United States
5,714
100.242
5,728
6.6
U.S. Treasury Bonds
United States
2,835
135.035
3,828
4.4
U.S. Treasury Bonds
United States
2,789
112.528
3,138
3.6
Government National Mortgage Association
United States
1,240
107.174
1,328
1.5
Federal National Mortgage Association
United States
1,159
108.363
1,256
1.4
Federal National Mortgage Association
United States
1,144
107.301
1,228
1.4
Gmf Floorplan Owner Revolving Trust
United States
1,194
99.999
1,194
1.4
U.S. Small Business Administration
United States
1,151
102.392
1,179
1.4
Federal National Mortgage Association
United States
1,047
105.062
1,100
1.3
Federal National Mortgage Association
United States
999
105.612
1,055
1.2
Federal National Mortgage Association
United States
917
104.671
959
1.1
U.S. Treasury Bonds
United States
817
112.325
918
1.1
Federal Home Loan Mortgage Corp.
United States
861
103.496
891
1.0
U.S. Treasury Bonds
United States
743
119.76
890
1.0
United Airlines Pass-Through Trust [UAL4110955]
United States
815
106.509
868
1.0
Federal Home Loan Mortgage Corp.
United States
801
106.502
853
1.0
Federal National Mortgage Association
United States
800
103.143
825
1.0
Federal Home Loan Mortgage Corp.
United States
776
106.049
823
0.9
Federal Home Loan Mortgage Corp.
United States
753
102.492
772
0.9
World Omni Auto Receivables Trust
United States
750
101.925
764
0.9
U.S. Treasury Bonds
United States
782
96.924
758
0.9
Government National Mortgage Association
United States
705
106.224
749
0.9
U.S. Small Business Administration
United States
703
106.315
748
0.9
Federal Home Loan Mortgage Corp.
United States
686
106.879
733
0.8
Berkshire Hathaway Energy Co.
United States
525
137.803
723
0.8
BANK 2019-BNK16
United States
651
108.348
705
0.8
JPMBB Commercial Mortgage Securities Trust
United States
697
100.149
698
0.8
AT&T Inc.
United States
664
101.801
676
0.8
New York State Urban Development Corp.
United States
555
121.363
674
0.8
Freddie Mac Seasoned Credit Risk Transfer Trust
United States
650
103.607
673
0.8
CVS Pass-Through Trust [CVS3305269]
United States
524
127.497
669
0.8
JPMorgan Chase Commercial Mortgage Securities Trust
United States
635
103.106
655
0.8
Federal National Mortgage Association
United States
590
109.841
648
0.7
Federal National Mortgage Association
United States
603
107.252
646
0.7
Charter Communications Operating LLC / Charter Communications Operating Capital
United States
478
126.129
603
0.7
CNH Equipment Trust
United States
590
101.274
598
0.7
Federal National Mortgage Association
United States
546
107.45
587
0.7
American Airlines Pass-Through Trust [AAL4218569]
United States
560
103.925
582
0.7
BX Commercial Mortgage Trust
United States
559
100.202
560
0.6
KKR Group Finance Co. II LLC [KKR3961770]
United States
456
122.203
557
0.6
JPMorgan Chase & Co.
United States
476
111.566
531
0.6
Boston Properties LP
United States
468
113.343
530
0.6
Digital Realty Trust LP [DRL4527158]
United States
500
105.94
530
0.6
Penske Truck Leasing Co. LP / Ptl Finance Corp. [PENZ4630754]
United States
500
105.047
525
0.6
U.S. Small Business Administration
United States
490
106.348
521
0.6
Federal Home Loan Mortgage Corp.
United States
502
102.94
516
0.6
Cigna Corp.
United States
495
103.976
515
0.6
Ferguson Finance plc [FERGY4741224]
United Kingdom
466
109.396
510
0.6
Verizon Owner Trust
United States
501
101.705
510
0.6
Occidental Petroleum Corp. [APC4878869]
United States
1,000
50.491
505
0.6
American International Group Inc.
United States
465
107.377
499
0.6
Comcast Corp.
United States
470
103.659
487
0.6
Federal National Mortgage Association
United States
430
110.304
475
0.5
Federal National Mortgage Association
United States
453
103.855
470
0.5
General Motors Financial Co. Inc.
United States
444
105.227
467
0.5
Federal National Mortgage Association
United States
428
108.389
464
0.5
State of California
United States
300
150.733
452
0.5
Goldman Sachs Group Inc.
United States
420
107.341
451
0.5
Federal National Mortgage Association
United States
413
108.501
448
0.5
Southern Co.
United States
430
104.152
448
0.5
Liberty Mutual Group Inc.
United States
400
111.698
447
0.5
U.S. Small Business Administration
United States
435
102.283
445
0.5
Sunoco Logistics Partners Operations LP
United States
428
103.857
445
0.5
Exelon Corp.
United States
368
120.382
443
0.5
Citigroup Inc.
United States
421
105.031
442
0.5
Progress Residential Trust
United States
433
101.988
441
0.5
GM Financial Automobile Leasing Trust
United States
437
100.895
441
0.5
Citigroup Commercial Mortgage Trust
United States
379
113.517
430
0.5
Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc.
United States
358
118.447
424
0.5
Cooperatieve Rabobank U.A.
Netherlands
400
105.727
423
0.5
GE Capital International Funding Co. Unlimited Co.
Ireland
415
100.096
415
0.5
Moody's Corp. [MCO4640869]
United States
407
101.847
415
0.5
WF RBS Commercial Mortgage Trust
United States
400
102.738
411
0.5
World Omni Auto Receivables Trust
United States
406
99.982
406
0.5
GS Mortgage Securities Trust
United States
400
101.412
405
0.5
Federal National Mortgage Association
United States
367
110.261
404
0.5
Bristol Myers Squibb Co.
United States
400
100.557
402
0.5
Abbvie Inc. [ABBV4241922]
United States
400
100.155
401
0.5
Nissan Motor Acceptance Corp. MTN
United States
400
99.811
399
0.5
Government National Mortgage Association
United States
374
105.698
395
0.5
Air Lease Corp.
United States
374
105.362
394
0.5
GS Mortgage Securities Trust
United States
386
101.799
392
0.5
Verizon Owner Trust
United States
374
100.73
377
0.4
Norfolk Southern Corp. [NSC3845871]
United States
310
118.412
367
0.4
Federal National Mortgage Association
United States
331
104.384
346
0.4
Air Canada Pass-Through Trust [ACDVF4221684]
Canada
326
104.575
341
0.4
MMAF Equipment Finance LLC
United States
334
101.455
339
0.4
U.S. Small Business Administration
United States
322
104.406
336
0.4
Government National Mortgage Association
United States
309
107.34
331
0.4
Federal National Mortgage Association
United States
296
110.37
327
0.4
UBS Group Funding Switzerland AG
Switzerland
300
108.737
326
0.4
Morgan Stanley Capital I Trust
United States
319
101.634
324
0.4
JPMorgan Mortgage Trust
United States
315
101.665
321
0.4
Virginia Electric & Power Co.
United States
305
104.513
319
0.4
BAE Systems Holdings Inc.
United States
300
105.714
317
0.4
Delta Air Lines Pass-Through Trust [DAL4277694]
United States
298
106.336
317
0.4
JPMorgan Chase Commercial Mortgage Securities Trust
United States
305
101.967
311
0.4
JPMorgan Chase & Co.
United States
300
103.215
310
0.4
Federal National Mortgage Association
United States
288
106.959
308
0.4
COX Communications Inc. [COX3999861]
United States
300
101.884
306
0.4
Siemens Financieringsmaatschappij NV
Netherlands
300
100.117
300
0.3
Daimler Finance North America LLC
United States
300
100.057
300
0.3
Verizon Communications Inc.
United States
247
119.793
296
0.3
Aercap Ireland Capital Dac / Aercap Global Aviation Trust [AER4641553]
Ireland
272
105.642
287
0.3
Lockheed Martin Corp.
United States
225
127.482
287
0.3
Blackstone Holdings Finance Co. LLC
United States
286
98.549
282
0.3
Federal National Mortgage Association
United States
253
110.298
279
0.3
U.S. Small Business Administration
United States
273
101.871
279
0.3
World Omni Auto Receivables Trust
United States
273
101.789
278
0.3
CNH Equipment Trust
United States
271
101.558
275
0.3
Federal National Mortgage Association
United States
247
110.229
272
0.3
Five Corners Funding Trust [PRU4072236]
United States
250
108.556
271
0.3
Morgan Stanley MTN
United States
252
107.40
271
0.3
NXP BV / NXP Funding LLC
Netherlands
251
106.922
268
0.3
Schlumberger Holdings Corp.
United States
252
106.496
268
0.3
Ventas Realty LP
United States
250
107.103
268
0.3
Broadcom Inc.
United States
257
103.999
267
0.3
Kroger Co.
United States
250
106.579
266
0.3
Volkswagen Group of America Finance LLC
United States
240
110.687
266
0.3
Apollo Management Holdings LP [APO4130336]
United States
250
105.907
265
0.3
Eversource Energy
United States
260
101.484
264
0.3
Government National Mortgage Association
United States
246
106.782
263
0.3
Macquarie Group Ltd. MTN
Australia
250
105.083
263
0.3
PNC Bank NA
United States
250
104.905
262
0.3
Phillips 66 Partners LP
United States
250
104.787
262
0.3
FedEx Corp.
United States
270
96.49
261
0.3
Nextera Energy Capital Holdings Inc.
United States
255
100.736
257
0.3
Commercial Mortgage Pass-Through Certificates
United States
245
104.78
256
0.3
Freddie Mac Seasoned Credit Risk Transfer Trust
United States
246
103.903
256
0.3
American Express Co.
United States
250
101.914
255
0.3
Federal National Mortgage Association
United States
244
103.787
253
0.3
Metropolitan Transportation Authority
United States
195
128.86
251
0.3
DB Master Finance LLC
United States
245
101.437
249
0.3
PSMC Trust
United States
244
101.901
248
0.3
WF RBS Commercial Mortgage Trust
United States
244
101.695
248
0.3
Bank of America Corp. MTN
United States
206
119.888
247
0.3
Domino's Pizza Master Issuer LLC
United States
245
100.301
246
0.3
Comcast Cable Communication Co.
United States
200
120.848
242
0.3
Federal National Mortgage Association
United States
219
110.298
242
0.3
Government National Mortgage Association
United States
217
108.819
236
0.3
Commonspirit Health [CSPE4870146]
United States
232
100.087
232
0.3
Federal National Mortgage Association
United States
219
105.515
231
0.3
Federal Home Loan Mortgage Corp.
United States
207
110.053
228
0.3
Commercial Mortgage Pass-Through Certificates
United States
223
99.972
223
0.3
Federal Home Loan Mortgage Corp.
United States
213
102.973
219
0.3
Benchmark Mortgage Trust
United States
212
102.433
217
0.3
Bank of America Corp. MTN
United States
200
106.332
213
0.2
Federal National Mortgage Association
United States
189
111.038
210
0.2
Store Master Funding I-VII
United States
202
103.685
209
0.2
Voya Financial Inc.
United States
200
103.135
206
0.2
COX Communications Inc.
United States
200
102.873
206
0.2
HCP Inc.
United States
188
106.706
201
0.2
Metropolitan Water Reclamation District of Greater Chicago
United States
145
130.984
190
0.2
Federal National Mortgage Association
United States
172
110.25
190
0.2
Federal National Mortgage Association
United States
174
109.093
190
0.2
AT&T Inc.
United States
178
104.821
187
0.2
Stack Infrastructure Issuer LLC
United States
185
100.00
185
0.2
JPMorgan Mortgage Trust
United States
181
102.16
185
0.2
Wendy's Funding LLC
United States
177
102.118
181
0.2
U.S. Small Business Administration
United States
180
100.367
181
0.2
DLL Securitization Trust
United States
179
100.027
179
0.2
DB Master Finance LLC
United States
174
102.404
178
0.2
Wells Fargo Mortgage Backed Securities Trust
United States
175
100.303
176
0.2
General Electric Co. MTN
United States
172
102.25
176
0.2
U.S. Treasury Bonds
United States
172
100.372
173
0.2
Store Master Funding I-VII
United States
172
100.019
172
0.2
U.S. Small Business Administration
United States
169
101.302
171
0.2
JPMorgan Mortgage Trust
United States
170
100.773
171
0.2
Concho Resources Inc.
United States
155
108.988
169
0.2
Macquarie Group Ltd.
Australia
165
102.358
169
0.2
Government National Mortgage Association
United States
150
108.734
163
0.2
Flagstar Mortgage Trust
United States
159
101.163
161
0.2
American Express Co.
United States
150
103.833
156
0.2
Federal National Mortgage Association
United States
139
110.315
153
0.2
Morgan Stanley MTN
United States
145
103.228
150
0.2
CVS Pass-Through Trust [CVS3814864]
United States
130
110.328
144
0.2
Aquarion Co. [ES4155882]
United States
117
105.159
123
0.1
Wheels SPV LLC
United States
122
100.55
123
0.1
Invitation Homes Trust
United States
114
99.296
113
0.1
American Airlines Pass-Through Trust [AAL4150076]
United States
99
104.267
104
0.1
JPMorgan Mortgage Trust
United States
90
100.05
90
0.1

Sector Allocation

As of 12/31/2019

Economic Sector
Core Bond Fund %
Corporate Bonds & Notes
28.8
Mortgage Pass-through
25.4
U.S. Government Obligations
22.2
Asset-backed Securities
11.1
Collateralized Mortgage Obligations
9.4
Municipal Bonds
1.8

Maturity Profile

As of 12/31/2019

Maturity
Core Bond Fund %
Bloomberg Barclays U.S. Aggregate Bond Index %
0-1 Yr
7.1
0.0
1-3 Yr
13.6
22.2
3-5 Yr
36.2
24.9
5-7 Yr
13.1
25.5
7-10 Yr
10.3
9.4
10-20 Yr
10.2
4.2
20-30 Yr
9.3
13.0
Over 30 Yr
0.3
0.7

Duration

As of 12/31/2019

Duration
Core Bond Fund %
Bloomberg Barclays U.S. Aggregate Bond Index %
0-1 Yr
8.5
0.4
1-3 Yr
21.8
33.0
3-5 Yr
34.4
31.6
5-7 Yr
12.7
11.4
7-10 Yr
4.9
6.8
10-20 Yr
16.8
15.3
20-30 Yr
0.9
1.4
Over 30 Yr
0.0
0.0