Investment Objective

To provide long-term total return by investing primarily in fixed income securities.

Investment Strategy

Under normal circumstances, at least 80% of the Series’ assets will be invested in investment-grade bonds and other financial instruments with economic characteristics similar to bonds. Holdings will consist of U.S. dollar denominated securities. The Series is not subject to maturity or duration restrictions.

May be Appropriate for Investors

  • Seeking an intermediate-term oriented, high quality bond component
  • Looking to diversify a portfolio by adding an actively managed fixed income approach that is objectives-driven, not benchmark-driven

Daily Price

$11.00

Daily $ Change

$0.01

Daily % Change

0.09%

as of 10/14/2019

Ticker

EXCRX

CUSIP

563821404

Inception Date

04/21/2005

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans, participants in an automatic investment program, and discretionary investment accounts of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms

Performance

As of 09/30/2019

YTD

8.18%

1 Year

9.27%

3 Year

2.61%

5 Year

2.67%

10 Year

4.02%

Inception
(04/21/2005)

4.41%

Market Cycle

---

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 0.64%*

*Includes a 12b-1 fee of 0.25%, of which up to 0.25% is available as a shareholder servicing fee.

Top Ten Investments

As of 09/30/2019

GOVERNMENT AGENCY 20.33%
TREASURY NOTES 19.21%
TREASURY BONDS 15.18%
TSY INFL IX N/B 0.50000 04/15/2024 2.53%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.51%
VERIZON COMMUNICATIONS 5.50000 03/16/2047 1.55%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.38%
BANK OF AMERICA CORP 4.00000 01/22/2025 1.35%
SABINE PASS LIQUEFACTION 5.87500 06/30/2026 1.33%
AIR LEASE CORP 3.62500 04/01/2027 1.02%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 09/30/2019

Treasury 39.86%
Government 0.91%
Cash 1.30%
Corporate 22.01%
Mortgage 35.92%

Credit Quality Distribution

As of 09/30/2019

AAA 72.39%
AA 2.44%
A 4.44%
BBB 17.70%
NR 3.03%

Credit quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Not Rated (NR) is used to classify securities for which a rating is not available. Credit quality ratings for each issue are obtained from Bloomberg using ratings derived from Moody’s Investors Services (Moody’s) or Standard & Poor’s. When ratings from Moody’s are not available, ratings from Standard & Poor’s are used.

September Fund Holdings

As of 09/30/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 1,820,000 $1,980,185.46
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 1,810,000 $1,929,440.85
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 2,150,000 $2,216,785.02
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,660,000 $1,727,739.50
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 2,070,000 $2,209,322.24
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 16,357.54 $16,519.27
05582QAD9 BMWOT 2016-A A3 1.16000 11/25/2020 US 20,666.55 $20,649.05
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 400,000 $411,458.08
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 2,750,000 $2,920,045.67
12510GAB8 CCG 2019-1 A2 2.80000 09/14/2026 US 1,940,000 $1,956,691.37
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 292,734.23 $300,114.24
12592TAA3 COMM 2015-3BP A FLT 3.17800 02/10/2035 US 400,000 $418,499.32
12596JAA1 CNH 2019-A A1 2.75334 02/28/2020 US 153,731.26 $153,761.81
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 222,482.1 $219,937.33
12647MBY0 CSMC 2013-6 2A1 3.50000 08/25/2043 US 730,666.43 $741,308.22
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 570,000 $592,540.19
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 5,446.96 $5,442.42
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 286,959.84 $288,255.75
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 643,330.21 $642,416.55
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 266,381.34 $266,299.59
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 960,000 $1,573,913.11
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 99,789.63 $99,829.17
22534BAA2 CAALT 2018-1A A MTGE 3.01000 02/16/2027 US 900,000 $905,403.51
22546QAD9 CREDIT SUISSE AG 5.40000 01/14/2020 CH 870,000 $877,695.73
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 2,190,000 $2,196,913.76
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 159,557.5 $155,008.45
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 1,870,000 $2,044,753.37
262006208 DREYFUS GVT CSH MANAGEMENT US 2,858,586.67 $2,858,586.67
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,330,000 $1,595,310.10
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 2,000,000 $2,010,684.08
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 9,944.28 $9,924.40
30262SAR9 FREMF 2015-K42 B FLT 3.98290 12/25/2024 US 380,000 $397,474.26
30263HAL5 FREMF 2011-K15 B FLT 5.12880 08/25/2044 US 170,000 $177,591.11
30286XAN9 FREMF 2015-K43 B FLT 3.86160 02/25/2048 US 400,000 $421,372.84
30291EAE4 FREMF 2013-K712 B FLT 3.40062 05/25/2045 US 360,000 $359,621.53
30291XAE2 FREMF 2014-K715 B FLT 4.11215 02/25/2046 US 465,000 $473,907.87
3128E5VC0 FHLM POOL D98711 4.50000 07/01/2031 US 110,679.95 $119,016.76
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 38,040.1 $43,253.05
3128M7FQ4 FHLM POOL G05275 5.50000 02/01/2039 US 218,997.24 $246,092.02
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 82,648.51 $93,357.59
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 7,530.21 $7,712.33
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 5,185.09 $5,324.80
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 4,499.8 $4,655.80
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 7,539.23 $7,783.74
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 324,919.27 $344,920.34
3128MJJN1 FHLM POOL G08268 5.00000 05/01/2038 US 660,309.34 $728,715.22
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 98,579.15 $106,130.68
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 113,484.2 $122,171.37
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 126,439.99 $136,116.75
3128P8A92 FHLM POOL C91832 3.50000 06/01/2035 US 603,940.35 $628,654.59
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 278,904.74 $302,330.23
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 791,203.26 $857,650.60
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 1,133,970.08 $1,160,190.85
3132J8YK0 FHLM POOL Q17513 3.50000 04/01/2043 US 203,568.61 $213,950.55
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 749,898.16 $790,983.81
3132QUWT6 FHLM POOL Q37857 4.00000 12/01/2045 US 677,690.71 $714,721.41
3132QVKA8 FHLM POOL Q38388 4.00000 01/01/2046 US 773,418.78 $816,582.07
3132WL4Q6 FHLM POOL Q47130 4.50000 04/01/2047 US 369,034.32 $390,651.58
3132WML28 FHLM POOL FG Q47544 4.00000 03/01/2047 US 874,162.22 $925,565.38
3132Y06K1 FHLM POOL FG Q57173 4.50000 07/01/2048 US 705,993.69 $742,792.53
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 562,101.29 $594,024.88
3132Y3ZJ6 FHLM POOL FG Q59744 4.50000 11/01/2048 US 995,405.1 $1,054,663.85
31334WF97 FEDERA; NATL MTG ASSN FR QA0192 3.50000 06/01/2049 US 976,063.59 $1,004,440.02
31335A5Q7 FHLM POOL G60855 4.50000 12/01/2045 US 283,487.89 $304,978.19
31335ACG1 FHLM POOL G60071 4.50000 07/01/2042 US 293,222.62 $317,751.09
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 341,092.77 $357,175.14
31335ASA7 FHLM POOL G60513 5.00000 07/01/2041 US 682,237.07 $753,456.35
31335CCY8 FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 US 1,179,889.31 $1,264,800.98
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 739.91 $741.68
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 1,204,707.63 $1,231,851.77
3136AY6W8 FNA 2017-M15 A1 3.05802 09/25/2027 US 974,200.17 $1,020,262.21
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 639,280.36 $672,012.22
3137ADTK3 FHMS K014 X1 FLT 1.32351 04/25/2021 US 6,869,021.34 $102,582.65
3137AJMG6 FMHS K016 X1 FLT 1.63454 10/25/2021 US 1,023,778.75 $26,617.63
3137AUPF0 FHMS K021 x1 FLT 1.56289 06/25/2022 US 8,865,301.81 $295,539.91
3137B3NB0 FHMS K030 X1 FLT 0.30017 04/25/2023 US 13,236,188.21 $82,661.32
3137B4GZ3 FHMS K032 X1 FLT 0.21238 05/25/2023 US 7,759,136.96 $31,466.40
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 697,051.76 $710,467.71
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 628,748.96 $642,612.43
3138A5JC7 FEDERAL NATL MTG ASSN AH3858 4.50000 08/01/2041 US 452,733.06 $490,567.63
3138AJXA5 FEDERAL NATL MTG ASSN A15172 4.00000 08/01/2041 US 100,640.87 $107,506.76
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 145,720.62 $155,633.85
3138ERN30 FEDERAL NATL MTG ASSN FN AL9409 3.50000 11/01/2031 US 971,433.04 $1,008,121.80
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 US 550,798.62 $619,312.34
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 2,233,262.33 $2,345,695.43
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 274,987.63 $296,253.58
3138Y22T9 FEDERAL NATL MTG ASSN FN AX1685 3.50000 11/01/2044 US 1,076,500.8 $1,133,299.11
3138YNR25 FEDERAL NATL MTG ASSN AY8604 3.50000 04/01/2045 US 239,517.37 $249,490.40
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 288,909.46 $326,745.96
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 751,574.98 $788,872.42
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 126,077.44 $131,174.18
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 111,387.73 $117,196.12
3140F8KD8 FEDERAL NATL MTG ASSN BD1191 3.50000 01/01/2047 US 493,055.44 $511,574.04
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 269,238.55 $283,319.65
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 193,715.83 $204,770.48
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 324,377.78 $341,872.34
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 363,815.8 $384,391.40
3140JAQM3 FEDERAL NATL MTG ASSN FN BM5859 4.00000 10/01/2048 US 907,768.89 $945,081.66
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 677,534.8 $715,350.00
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 780,706.55 $838,874.93
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 484,321.03 $512,790.17
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 1,136,846.92 $1,221,552.63
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 693,403.44 $745,386.59
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 1,129,657.88 $1,168,615.13
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 5,360 $5,475.26
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 6,077.52 $6,217.26
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 37,730.97 $38,265.35
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 45,583.12 $46,184.96
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 273,891.68 $308,951.20
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 39,674.57 $44,691.27
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 1,197.81 $1,209.48
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 25,776.59 $26,164.77
31416CJV9 FEDERAL NATL MTG ASSN 995876 6.00000 11/01/2038 US 113,126.84 $130,079.59
31418B2V7 FEDERAL NATL MTG ASSN MA2587 3.50000 04/01/2036 US 582,107.21 $603,574.52
31418B6G6 FEDERAL NATL MTG ASSN FN MA2670 3.00000 07/01/2046 US 339,617.99 $347,832.63
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 74,778.25 $80,389.29
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 3,453,695.15 $3,589,942.77
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 965,633.75 $988,992.00
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 2,085,400.97 $2,159,318.99
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 660,566.17 $690,121.78
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 1,004,467.44 $1,042,291.23
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 1,839,881.48 $1,892,666.15
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 40,316.66 $45,488.36
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 6,574.86 $6,897.68
357081AE8 FREMF 2015-K720 B FLT 3.50714 07/25/2022 US 340,000 $348,649.94
35802XAH6 FRESENIUS MED CARE II 4.12500 10/15/2020 US 2,000,000 $2,024,861.86
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 450,000 $449,805.42
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 1,590,000 $1,501,929.90
37045XAR7 GENERAL MOTORS FINL CO 3.15000 01/15/2020 US 890,000 $891,322.23
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 920,000 $984,494.25
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 464,028.45 $467,167.46
404119BX6 HCA INC 4.12500 06/15/2029 US 1,540,000 $1,614,975.55
43731QAA6 HPA 2019-1 A 2.90800 09/17/2039 US 995,639.64 $1,011,818.78
46187BAA1 IHSFR 2017-SFR2 A 2.87475 12/17/2036 US 146,093.58 $146,165.75
46187BAB9 IHSFR 2017-SFR2 B 3.17475 12/17/2036 US 115,000 $114,774.00
46635GAE0 JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 US 159,322.23 $160,643.52
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 114,760.06 $115,762.37
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 123,956.51 $126,206.69
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 146,160.67 $148,230.42
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 1,320,000 $1,407,472.84
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 666,498.76 $673,918.89
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 285,932.58 $290,780.00
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 462,712.71 $468,419.35
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 1,620,000 $2,114,774.89
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 870,280.39 $878,102.04
63941MAB7 NAVSL 2019-EA A2A 2.64000 05/15/2068 US 1,000,000 $1,013,147.50
63941RAB6 NAVSL 2019-2A A2 3.01838 02/27/2068 US 1,820,000 $1,835,945.20
64828AAA1 NRZT 2014-1A A 3.75000 01/25/2054 US 249,842.3 $258,545.51
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 113,201.5 $117,051.15
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 247,087.98 $255,893.60
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 209,593.6 $216,567.66
67087MAA4 OBP DEPOSITOR LLC TRUST 4.64620 07/15/2045 US 100,000 $100,654.80
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 900,000 $922,848.03
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 2,790,000 $2,983,075.84
74331AAA0 2019- SFR4 CLASS A 2.68700 11/17/2036 US 800,000 $802,799.68
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 400,000 $402,779.68
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 910,000 $922,672.21
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 784,793.13 $787,933.01
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 383,782.17 $386,589.27
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 2,520,000 $2,887,413.18
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 1,780,000 $1,909,600.87
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 132,687.44 $133,879.50
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 183,850.6 $185,502.31
81745FAA4 SEMT 2012-3 A1 3.50000 07/25/2042 US 313,460.78 $317,991.23
81746NAK4 SEMT 2016-3 A10 3.50000 11/25/2046 US 935,410.97 $952,279.24
831641FC4 SBIC 2015-10A 1 2.51700 03/10/2025 US 363,910.06 $369,697.07
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 49,616.82 $49,550.99
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 150,000 $152,161.67
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 41,800.43 $41,752.70
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 850,843.32 $856,881.50
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 610,985.3 $615,483.13
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 1,740,000 $1,763,446.41
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.24750 11/15/2027 US 364,259.05 $363,781.54
86935CAA0 SCML 2019-SBC8 2.86000 12/25/2035 US 976,449.17 $979,375.39
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 79,206.09 $79,096.03
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,550,000 $1,658,511.58
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 452,645.04 $452,181.40
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 398,528.6 $402,165.33
89177EAA7 TPMT 2019-HY1 A1 3.01838 10/25/2048 US 366,307.52 $367,771.14
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 487,346.37 $486,606.29
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 498,745.68 $505,762.83
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 4,625,000 $6,671,381.85
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 4,565,000 $6,542,037.32
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 1,970,040.45 $2,070,771.20
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 8,217,000 $8,841,620.35
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 9,177,000 $10,874,386.55
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 5,417,122.5 $5,481,958.79
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 5,486,486.2 $5,439,336.71
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 8,755,000 $8,759,103.91
912828VB3 UNITED STATES TREAS NTS 1.75000 05/15/2023 US 8,725,000 $8,775,782.20
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 10,580,000 $11,015,598.49
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 4,169,000 $4,392,920.91
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 8,478,000 $8,717,768.44
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 2,540,000 $3,352,338.91
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 245,000 $247,117.93
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 760,610.64 $779,256.10
93065PAA9 WBHT 2019-WBM A FLT 3.07750 12/15/2033 US 415,000 $415,011.33
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 275,000 $278,694.38
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 1,495,000 $1,544,166.18
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 101,071.46 $101,366.80
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 128,282.74 $130,457.52

Investments will change over time.

Distributions

  • Core Bond Series Class S Distribution History
  • 2019 Distribution Calendar
  • Fourth Quarter 2018 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2019 Distributions
  • Tax Letter

A Word About Risk

All investments involve risks, including possible loss of principal. There is an inverse relationship between bond prices and interest rates; as interest rates rise, bond prices (and therefore the value of bond funds) fall. Likewise, as interest rates fall, bond prices and the value of bond funds rise. Investments in derivatives can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses.

Daily Price

$11.00

Daily $ Change

$0.01

Daily % Change

0.09%

as of 10/14/2019

Ticker

EXCRX

CUSIP

563821404

Inception Date

04/21/2005

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans, participants in an automatic investment program, and discretionary investment accounts of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms

Investment Objective

To provide long-term total return by investing primarily in fixed income securities.

Investment Strategy

Under normal circumstances, at least 80% of the Series’ assets will be invested in investment-grade bonds and other financial instruments with economic characteristics similar to bonds. Holdings will consist of U.S. dollar denominated securities. The Series is not subject to maturity or duration restrictions.

May be Appropriate for Investors

  • Seeking an intermediate-term oriented, high quality bond component
  • Looking to diversify a portfolio by adding an actively managed fixed income approach that is objectives-driven, not benchmark-driven

Performance

As of 09/30/2019

YTD

8.18%

1 Year

9.27%

3 Year

2.61%

5 Year

2.67%

10 Year

4.02%

Inception
(04/21/2005)

4.41%

Market Cycle

---

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 0.64%*

*Includes a 12b-1 fee of 0.25%, of which up to 0.25% is available as a shareholder servicing fee.

Top Ten Investments

As of 09/30/2019

GOVERNMENT AGENCY 20.33%
TREASURY NOTES 19.21%
TREASURY BONDS 15.18%
TSY INFL IX N/B 0.50000 04/15/2024 2.53%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.51%
VERIZON COMMUNICATIONS 5.50000 03/16/2047 1.55%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.38%
BANK OF AMERICA CORP 4.00000 01/22/2025 1.35%
SABINE PASS LIQUEFACTION 5.87500 06/30/2026 1.33%
AIR LEASE CORP 3.62500 04/01/2027 1.02%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 09/30/2019

Treasury
39.86%
Government
0.91%
Cash
1.30%
Corporate
22.01%
Mortgage
35.92%

Credit Quality Distribution

As of 09/30/2019

AAA
72.39%
AA
2.44%
A
4.44%
BBB
17.70%
NR
3.03%

Credit quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Not Rated (NR) is used to classify securities for which a rating is not available. Credit quality ratings for each issue are obtained from Bloomberg using ratings derived from Moody’s Investors Services (Moody’s) or Standard & Poor’s. When ratings from Moody’s are not available, ratings from Standard & Poor’s are used.

September Fund Holdings

As of 09/30/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 1,820,000 $1,980,185.46
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 1,810,000 $1,929,440.85
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 2,150,000 $2,216,785.02
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,660,000 $1,727,739.50
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 2,070,000 $2,209,322.24
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 16,357.54 $16,519.27
05582QAD9 BMWOT 2016-A A3 1.16000 11/25/2020 US 20,666.55 $20,649.05
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 400,000 $411,458.08
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 2,750,000 $2,920,045.67
12510GAB8 CCG 2019-1 A2 2.80000 09/14/2026 US 1,940,000 $1,956,691.37
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 292,734.23 $300,114.24
12592TAA3 COMM 2015-3BP A FLT 3.17800 02/10/2035 US 400,000 $418,499.32
12596JAA1 CNH 2019-A A1 2.75334 02/28/2020 US 153,731.26 $153,761.81
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 222,482.1 $219,937.33
12647MBY0 CSMC 2013-6 2A1 3.50000 08/25/2043 US 730,666.43 $741,308.22
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 570,000 $592,540.19
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 5,446.96 $5,442.42
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 286,959.84 $288,255.75
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 643,330.21 $642,416.55
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 266,381.34 $266,299.59
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 960,000 $1,573,913.11
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 99,789.63 $99,829.17
22534BAA2 CAALT 2018-1A A MTGE 3.01000 02/16/2027 US 900,000 $905,403.51
22546QAD9 CREDIT SUISSE AG 5.40000 01/14/2020 CH 870,000 $877,695.73
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 2,190,000 $2,196,913.76
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 159,557.5 $155,008.45
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 1,870,000 $2,044,753.37
262006208 DREYFUS GVT CSH MANAGEMENT US 2,858,586.67 $2,858,586.67
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,330,000 $1,595,310.10
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 2,000,000 $2,010,684.08
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 9,944.28 $9,924.40
30262SAR9 FREMF 2015-K42 B FLT 3.98290 12/25/2024 US 380,000 $397,474.26
30263HAL5 FREMF 2011-K15 B FLT 5.12880 08/25/2044 US 170,000 $177,591.11
30286XAN9 FREMF 2015-K43 B FLT 3.86160 02/25/2048 US 400,000 $421,372.84
30291EAE4 FREMF 2013-K712 B FLT 3.40062 05/25/2045 US 360,000 $359,621.53
30291XAE2 FREMF 2014-K715 B FLT 4.11215 02/25/2046 US 465,000 $473,907.87
3128E5VC0 FHLM POOL D98711 4.50000 07/01/2031 US 110,679.95 $119,016.76
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 38,040.1 $43,253.05
3128M7FQ4 FHLM POOL G05275 5.50000 02/01/2039 US 218,997.24 $246,092.02
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 82,648.51 $93,357.59
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 7,530.21 $7,712.33
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 5,185.09 $5,324.80
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 4,499.8 $4,655.80
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 7,539.23 $7,783.74
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 324,919.27 $344,920.34
3128MJJN1 FHLM POOL G08268 5.00000 05/01/2038 US 660,309.34 $728,715.22
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 98,579.15 $106,130.68
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 113,484.2 $122,171.37
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 126,439.99 $136,116.75
3128P8A92 FHLM POOL C91832 3.50000 06/01/2035 US 603,940.35 $628,654.59
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 278,904.74 $302,330.23
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 791,203.26 $857,650.60
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 1,133,970.08 $1,160,190.85
3132J8YK0 FHLM POOL Q17513 3.50000 04/01/2043 US 203,568.61 $213,950.55
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 749,898.16 $790,983.81
3132QUWT6 FHLM POOL Q37857 4.00000 12/01/2045 US 677,690.71 $714,721.41
3132QVKA8 FHLM POOL Q38388 4.00000 01/01/2046 US 773,418.78 $816,582.07
3132WL4Q6 FHLM POOL Q47130 4.50000 04/01/2047 US 369,034.32 $390,651.58
3132WML28 FHLM POOL FG Q47544 4.00000 03/01/2047 US 874,162.22 $925,565.38
3132Y06K1 FHLM POOL FG Q57173 4.50000 07/01/2048 US 705,993.69 $742,792.53
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 562,101.29 $594,024.88
3132Y3ZJ6 FHLM POOL FG Q59744 4.50000 11/01/2048 US 995,405.1 $1,054,663.85
31334WF97 FEDERA; NATL MTG ASSN FR QA0192 3.50000 06/01/2049 US 976,063.59 $1,004,440.02
31335A5Q7 FHLM POOL G60855 4.50000 12/01/2045 US 283,487.89 $304,978.19
31335ACG1 FHLM POOL G60071 4.50000 07/01/2042 US 293,222.62 $317,751.09
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 341,092.77 $357,175.14
31335ASA7 FHLM POOL G60513 5.00000 07/01/2041 US 682,237.07 $753,456.35
31335CCY8 FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 US 1,179,889.31 $1,264,800.98
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 739.91 $741.68
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 1,204,707.63 $1,231,851.77
3136AY6W8 FNA 2017-M15 A1 3.05802 09/25/2027 US 974,200.17 $1,020,262.21
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 639,280.36 $672,012.22
3137ADTK3 FHMS K014 X1 FLT 1.32351 04/25/2021 US 6,869,021.34 $102,582.65
3137AJMG6 FMHS K016 X1 FLT 1.63454 10/25/2021 US 1,023,778.75 $26,617.63
3137AUPF0 FHMS K021 x1 FLT 1.56289 06/25/2022 US 8,865,301.81 $295,539.91
3137B3NB0 FHMS K030 X1 FLT 0.30017 04/25/2023 US 13,236,188.21 $82,661.32
3137B4GZ3 FHMS K032 X1 FLT 0.21238 05/25/2023 US 7,759,136.96 $31,466.40
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 697,051.76 $710,467.71
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 628,748.96 $642,612.43
3138A5JC7 FEDERAL NATL MTG ASSN AH3858 4.50000 08/01/2041 US 452,733.06 $490,567.63
3138AJXA5 FEDERAL NATL MTG ASSN A15172 4.00000 08/01/2041 US 100,640.87 $107,506.76
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 145,720.62 $155,633.85
3138ERN30 FEDERAL NATL MTG ASSN FN AL9409 3.50000 11/01/2031 US 971,433.04 $1,008,121.80
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 US 550,798.62 $619,312.34
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 2,233,262.33 $2,345,695.43
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 274,987.63 $296,253.58
3138Y22T9 FEDERAL NATL MTG ASSN FN AX1685 3.50000 11/01/2044 US 1,076,500.8 $1,133,299.11
3138YNR25 FEDERAL NATL MTG ASSN AY8604 3.50000 04/01/2045 US 239,517.37 $249,490.40
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 288,909.46 $326,745.96
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 751,574.98 $788,872.42
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 126,077.44 $131,174.18
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 111,387.73 $117,196.12
3140F8KD8 FEDERAL NATL MTG ASSN BD1191 3.50000 01/01/2047 US 493,055.44 $511,574.04
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 269,238.55 $283,319.65
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 193,715.83 $204,770.48
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 324,377.78 $341,872.34
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 363,815.8 $384,391.40
3140JAQM3 FEDERAL NATL MTG ASSN FN BM5859 4.00000 10/01/2048 US 907,768.89 $945,081.66
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 677,534.8 $715,350.00
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 780,706.55 $838,874.93
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 484,321.03 $512,790.17
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 1,136,846.92 $1,221,552.63
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 693,403.44 $745,386.59
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 1,129,657.88 $1,168,615.13
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 5,360 $5,475.26
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 6,077.52 $6,217.26
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 37,730.97 $38,265.35
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 45,583.12 $46,184.96
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 273,891.68 $308,951.20
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 39,674.57 $44,691.27
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 1,197.81 $1,209.48
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 25,776.59 $26,164.77
31416CJV9 FEDERAL NATL MTG ASSN 995876 6.00000 11/01/2038 US 113,126.84 $130,079.59
31418B2V7 FEDERAL NATL MTG ASSN MA2587 3.50000 04/01/2036 US 582,107.21 $603,574.52
31418B6G6 FEDERAL NATL MTG ASSN FN MA2670 3.00000 07/01/2046 US 339,617.99 $347,832.63
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 74,778.25 $80,389.29
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 3,453,695.15 $3,589,942.77
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 965,633.75 $988,992.00
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 2,085,400.97 $2,159,318.99
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 660,566.17 $690,121.78
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 1,004,467.44 $1,042,291.23
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 1,839,881.48 $1,892,666.15
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 40,316.66 $45,488.36
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 6,574.86 $6,897.68
357081AE8 FREMF 2015-K720 B FLT 3.50714 07/25/2022 US 340,000 $348,649.94
35802XAH6 FRESENIUS MED CARE II 4.12500 10/15/2020 US 2,000,000 $2,024,861.86
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 450,000 $449,805.42
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 1,590,000 $1,501,929.90
37045XAR7 GENERAL MOTORS FINL CO 3.15000 01/15/2020 US 890,000 $891,322.23
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 920,000 $984,494.25
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 464,028.45 $467,167.46
404119BX6 HCA INC 4.12500 06/15/2029 US 1,540,000 $1,614,975.55
43731QAA6 HPA 2019-1 A 2.90800 09/17/2039 US 995,639.64 $1,011,818.78
46187BAA1 IHSFR 2017-SFR2 A 2.87475 12/17/2036 US 146,093.58 $146,165.75
46187BAB9 IHSFR 2017-SFR2 B 3.17475 12/17/2036 US 115,000 $114,774.00
46635GAE0 JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 US 159,322.23 $160,643.52
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 114,760.06 $115,762.37
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 123,956.51 $126,206.69
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 146,160.67 $148,230.42
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 1,320,000 $1,407,472.84
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 666,498.76 $673,918.89
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 285,932.58 $290,780.00
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 462,712.71 $468,419.35
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 1,620,000 $2,114,774.89
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 870,280.39 $878,102.04
63941MAB7 NAVSL 2019-EA A2A 2.64000 05/15/2068 US 1,000,000 $1,013,147.50
63941RAB6 NAVSL 2019-2A A2 3.01838 02/27/2068 US 1,820,000 $1,835,945.20
64828AAA1 NRZT 2014-1A A 3.75000 01/25/2054 US 249,842.3 $258,545.51
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 113,201.5 $117,051.15
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 247,087.98 $255,893.60
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 209,593.6 $216,567.66
67087MAA4 OBP DEPOSITOR LLC TRUST 4.64620 07/15/2045 US 100,000 $100,654.80
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 900,000 $922,848.03
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 2,790,000 $2,983,075.84
74331AAA0 2019- SFR4 CLASS A 2.68700 11/17/2036 US 800,000 $802,799.68
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 400,000 $402,779.68
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 910,000 $922,672.21
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 784,793.13 $787,933.01
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 383,782.17 $386,589.27
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 2,520,000 $2,887,413.18
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 1,780,000 $1,909,600.87
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 132,687.44 $133,879.50
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 183,850.6 $185,502.31
81745FAA4 SEMT 2012-3 A1 3.50000 07/25/2042 US 313,460.78 $317,991.23
81746NAK4 SEMT 2016-3 A10 3.50000 11/25/2046 US 935,410.97 $952,279.24
831641FC4 SBIC 2015-10A 1 2.51700 03/10/2025 US 363,910.06 $369,697.07
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 49,616.82 $49,550.99
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 150,000 $152,161.67
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 41,800.43 $41,752.70
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 850,843.32 $856,881.50
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 610,985.3 $615,483.13
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 1,740,000 $1,763,446.41
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.24750 11/15/2027 US 364,259.05 $363,781.54
86935CAA0 SCML 2019-SBC8 2.86000 12/25/2035 US 976,449.17 $979,375.39
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 79,206.09 $79,096.03
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,550,000 $1,658,511.58
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 452,645.04 $452,181.40
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 398,528.6 $402,165.33
89177EAA7 TPMT 2019-HY1 A1 3.01838 10/25/2048 US 366,307.52 $367,771.14
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 487,346.37 $486,606.29
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 498,745.68 $505,762.83
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 4,625,000 $6,671,381.85
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 4,565,000 $6,542,037.32
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 1,970,040.45 $2,070,771.20
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 8,217,000 $8,841,620.35
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 9,177,000 $10,874,386.55
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 5,417,122.5 $5,481,958.79
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 5,486,486.2 $5,439,336.71
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 8,755,000 $8,759,103.91
912828VB3 UNITED STATES TREAS NTS 1.75000 05/15/2023 US 8,725,000 $8,775,782.20
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 10,580,000 $11,015,598.49
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 4,169,000 $4,392,920.91
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 8,478,000 $8,717,768.44
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 2,540,000 $3,352,338.91
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 245,000 $247,117.93
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 760,610.64 $779,256.10
93065PAA9 WBHT 2019-WBM A FLT 3.07750 12/15/2033 US 415,000 $415,011.33
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 275,000 $278,694.38
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 1,495,000 $1,544,166.18
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 101,071.46 $101,366.80
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 128,282.74 $130,457.52

Investments will change over time.

Distributions

  • Core Bond Series Class S Distribution History
  • 2019 Distribution Calendar
  • Fourth Quarter 2018 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2019 Distributions
  • Tax Letter

A Word About Risk

All investments involve risks, including possible loss of principal. There is an inverse relationship between bond prices and interest rates; as interest rates rise, bond prices (and therefore the value of bond funds) fall. Likewise, as interest rates fall, bond prices and the value of bond funds rise. Investments in derivatives can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses.


Loading...