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

$11.10

Daily $ Change

$0.00

Daily % Change

0.00%

as of 04/06/2020

Ticker

MCBWX

CUSIP

56382R373

Inception Date

03/01/2019

This fund is only available to discretionary investment accounts and other accounts managed by the Advisor.

Important Documents

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

Performance

As of 02/29/2020

YTD

3.76%

1 Year

11.57%

3 Year

4.53%

5 Year

3.24%

10 Year

4.21%

Inception
(04/21/2005)

4.59%

Market Cycle

---

Inception performance is based on the Core Bond Series Class S inception of 04/21/2005. For periods through 03/01/2019 (the inception date of the Class W shares), performance for the Class W shares is based on the historical performance of the Class S shares. Because the Class W shares invest in the same portfolio of securities as the Class S shares, performance will be different only to the extent that the Class S shares have a higher expense ratio. 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 0.38%
Net 0.05%*

*Reflects the Advisor's contractual agreement to waive its management fee and limit and reimburse certain other expenses. These contractual waivers may not be amended or terminated without the prior approval of the Fund's Board of Directors. The Class W shares are only available to discretionary investment accounts and other accounts managed by the Advisor. These clients pay a management fee to the Advisor that is separate from the fund's expenses.

Top Ten Investments

As of 02/29/2020

TREASURY NOTES 19.85%
GOVERNMENT AGENCY 19.21%
TREASURY BONDS 10.46%
TSY INFL IX N/B 2.00000 01/15/2026 2.89%
TSY INFL IX N/B 0.50000 04/15/2024 2.51%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.47%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.55%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.37%
BANK OF AMERICA CORP 4.00000 01/22/2025 1.34%
SABINE PASS LIQUEFACTION 5.87500 06/30/2026 1.18%

Top Ten Investments list is unaudited and excludes cash

Sector Allocation

As of 02/29/2020

Treasury 38.77%
Government 0.89%
Cash 1.07%
Corporate 21.58%
Mortgage 37.69%

Credit Quality Distribution

As of 02/29/2020

AAA 72.59%
AA 2.30%
A 5.78%
BBB 16.39%
NR 2.94%

February Fund Holdings

As of 02/29/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 1,820,000 $2,051,202.90
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 1,810,000 $1,995,951.89
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 1,025,000 $1,087,172.44
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,660,000 $1,788,064.30
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 2,070,000 $2,280,356.03
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 11,361.1 $11,430.55
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 1,060,000 $1,067,094.57
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 400,000 $408,568.84
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 2,750,000 $3,000,089.62
12510GAB8 CCG 2019-1 A2 2.80000 09/14/2026 US 1,769,523.5 $1,791,945.84
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 238,169.82 $245,057.64
12646WAH7 CSMC 2013-IVR2 A2 3.00000 04/25/2043 US 790,864.54 $812,694.77
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 197,768.37 $197,665.06
12647MBY0 CSMC 2013-6 2A1 3.50000 08/25/2043 US 675,182.34 $696,582.72
12647PAK4 CSMC 2013-7 A6 3.50000 08/25/2043 US 1,010,636.58 $1,046,404.02
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 204,214.58 $207,207.10
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 202,437.07 $203,318.64
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 960,000 $1,661,970.16
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 1,610,000 $1,739,874.66
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 1,423,258.55 $1,457,833.34
22534BAA2 CAALT 2018-1A A MTGE 3.01000 02/16/2027 US 900,000 $905,441.31
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 500,000 $502,558.45
22534GAC7 CAALT 2020-1A B 2.39000 04/16/2029 US 600,000 $604,282.50
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 2,190,000 $2,308,114.69
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 142,138.07 $139,768.03
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 1,870,000 $2,204,583.32
262006208 DREYFUS GVT CSH MANAGEMENT US 2,409,904.48 $2,409,904.48
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,330,000 $1,602,812.14
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 2,000,000 $2,019,408.94
30262SAR9 FREMF 2015-K42 B FLT 3.85083 12/25/2024 US 380,000 $409,904.14
30263HAL5 FREMF 2011-K15 B FLT 4.96071 08/25/2044 US 170,000 $176,880.75
30286XAN9 FREMF 2015-K43 B FLT 3.73341 02/25/2048 US 400,000 $429,740.32
30291XAE2 FREMF 2014-K715 B FLT 3.97097 02/25/2046 US 465,000 $472,279.53
3128E5VC0 FHLM POOL D98711 4.50000 07/01/2031 US 102,706.85 $111,341.89
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 33,458.94 $39,128.74
3128M7FQ4 FHLM POOL G05275 5.50000 02/01/2039 US 170,449.51 $190,102.10
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 76,623.07 $87,924.20
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 5,505.12 $5,633.98
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 3,774 $3,875.27
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 3,491.26 $3,619.96
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 5,783.4 $5,987.32
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 279,084.22 $302,463.82
3128MJJN1 FHLM POOL G08268 5.00000 05/01/2038 US 599,931.13 $678,651.47
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 89,147.09 $97,122.36
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 98,773.68 $107,389.48
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 121,209.79 $132,102.70
3128P8A92 FHLM POOL C91832 3.50000 06/01/2035 US 548,799.46 $580,362.16
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 251,054.76 $276,560.09
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 710,581.1 $783,161.42
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 1,061,219.85 $1,106,494.75
3132A5H40 FEDERAL NATL MTG ASSN FR ZS4751 3.50000 01/01/2048 US 1,008,263.8 $1,066,841.88
3132J8YK0 FHLM POOL Q17513 3.50000 04/01/2043 US 183,525.08 $195,370.29
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 675,194.55 $729,920.22
3132QUWT6 FHLM POOL Q37857 4.00000 12/01/2045 US 586,629.28 $630,617.40
3132QVKA8 FHLM POOL Q38388 4.00000 01/01/2046 US 678,698.16 $733,711.93
3132WL4Q6 FHLM POOL Q47130 4.50000 04/01/2047 US 223,274.51 $240,751.29
3132WML28 FHLM POOL FG Q47544 4.00000 03/01/2047 US 800,676.38 $867,141.38
3132Y06K1 FHLM POOL FG Q57173 4.50000 07/01/2048 US 632,883.98 $678,298.91
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 460,661.25 $492,560.68
3132Y3ZJ6 FHLM POOL FG Q59744 4.50000 11/01/2048 US 802,479.6 $860,072.33
31334WF97 FEDERA; NATL MTG ASSN FR QA0192 3.50000 06/01/2049 US 861,763.33 $898,941.22
31335A5Q7 FHLM POOL G60855 4.50000 12/01/2045 US 257,598.5 $281,244.95
31335ACG1 FHLM POOL G60071 4.50000 07/01/2042 US 270,128.61 $297,557.54
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 295,352.55 $317,501.34
31335ASA7 FHLM POOL G60513 5.00000 07/01/2041 US 621,262.7 $703,805.17
31335CCY8 FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 US 1,020,046.43 $1,105,880.99
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 123.48 $123.60
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 1,147,138.43 $1,189,306.81
3136AY6W8 FNA 2017-M15 A1 2.95932 09/25/2027 US 948,705.25 $1,009,568.39
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 563,576.03 $601,277.97
3137ADTK3 FHMS K014 X1 FLT 1.14924 04/25/2021 US 6,806,865.56 $68,581.21
3137AJMG6 FMHS K016 X1 FLT 1.47787 10/25/2021 US 1,014,266.81 $20,673.70
3137AUPF0 FHMS K021 x1 FLT 1.42177 06/25/2022 US 8,769,673.8 $240,287.31
3137B3NB0 FHMS K030 X1 FLT 0.18125 04/25/2023 US 13,045,908.76 $68,471.45
3137B4GZ3 FHMS K032 X1 FLT 0.09543 05/25/2023 US 7,669,271.1 $27,742.05
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 559,577.64 $574,071.71
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 439,223.5 $450,386.80
3138A5JC7 FEDERAL NATL MTG ASSN AH3858 4.50000 08/01/2041 US 418,412.61 $461,595.74
3138AJXA5 FEDERAL NATL MTG ASSN A15172 4.00000 08/01/2041 US 89,566.58 $96,995.53
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 135,605.18 $147,263.14
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 498,093.13 $569,133.76
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 2,063,119.69 $2,215,785.95
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 255,891.74 $280,002.11
3138Y22T9 FEDERAL NATL MTG ASSN FN AX1685 3.50000 11/01/2044 US 1,035,276.13 $1,116,244.38
3138YNR25 FEDERAL NATL MTG ASSN AY8604 3.50000 04/01/2045 US 206,632.42 $218,570.18
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 267,770.45 $307,560.08
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 666,798.78 $715,977.04
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 111,190.27 $117,547.58
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 107,111.03 $114,783.86
3140F8KD8 FEDERAL NATL MTG ASSN BD1191 3.50000 01/01/2047 US 472,149.12 $497,559.68
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 254,716.45 $273,106.63
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 152,876.67 $165,035.89
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 256,095.36 $273,692.06
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 279,708.23 $299,316.27
3140J9SN2 FEDERAL NATL MTG ASSN FN BM5024 3.00000 11/01/2048 US 2,099,031.95 $2,176,291.71
3140JAQM3 FEDERAL NATL MTG ASSN FN BM5859 4.00000 10/01/2048 US 757,596.08 $800,713.82
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 521,603.53 $557,219.65
3140K1TB2 FEDERAL NATL MTG ASSN FN BO5945 3.50000 11/01/2049 US 1,027,168 $1,071,638.68
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 569,630.29 $618,438.58
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 391,088.18 $419,876.24
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 955,581.14 $1,038,079.06
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 548,339.62 $594,220.26
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 1,088,155.11 $1,139,994.92
3140X5PS6 FEDERAL NATL MTG ASSN FN FM2232 4.00000 06/01/2048 US 464,594.87 $494,748.33
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 3,612.04 $3,687.31
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 4,263.94 $4,351.93
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 23,256.71 $23,540.70
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 27,310.35 $27,608.10
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 249,947.78 $286,151.35
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 37,766.44 $43,511.50
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 469.91 $473.44
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 15,490.15 $15,675.78
31416CJV9 FEDERAL NATL MTG ASSN 995876 6.00000 11/01/2038 US 107,145.39 $125,810.60
31418B2V7 FEDERAL NATL MTG ASSN MA2587 3.50000 04/01/2036 US 535,871.57 $563,488.39
31418B6G6 FEDERAL NATL MTG ASSN FN MA2670 3.00000 07/01/2046 US 317,754.56 $332,696.96
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 66,236.87 $72,099.19
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 2,728,558.27 $2,876,887.58
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 902,507.43 $946,285.36
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 1,779,822.08 $1,865,544.42
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 534,486.24 $562,652.51
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 800,660.44 $845,000.29
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 1,632,807.36 $1,695,150.17
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 37,491.8 $43,203.03
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 5,600.6 $5,902.53
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,050,000 $1,113,001.89
357081AE8 FREMF 2015-K720 B FLT 3.39225 07/25/2022 US 340,000 $351,100.08
35802XAH6 FRESENIUS MED CARE II 4.12500 10/15/2020 US 2,000,000 $2,017,472.94
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 450,000 $451,928.93
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 1,590,000 $1,556,562.30
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 459,987.14 $473,682.20
404119BX6 HCA INC 4.12500 06/15/2029 US 1,540,000 $1,689,834.41
43731QAA6 HPA 2019-1 A 2.90800 09/17/2039 US 983,269.54 $1,030,777.19
46187BAA1 IHSFR 2017-SFR2 A 2.50850 12/17/2036 US 143,274.3 $142,482.74
46187BAB9 IHSFR 2017-SFR2 B 2.80850 12/17/2036 US 115,000 $114,747.54
46635GAE0 JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 US 110,791.76 $111,298.61
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 99,353.83 $101,758.49
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 112,601.76 $116,158.96
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 133,733.72 $136,094.07
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 1,500,000 $1,626,230.61
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 537,422.2 $549,857.61
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 243,138.43 $250,673.53
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 371,010.99 $379,803.95
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 1,620,000 $2,171,260.23
63938EAC8 NAVSL 2014-1 A3 2.13675 06/25/2031 US 1,032,640.92 $1,016,253.53
63941MAB7 NAVSL 2019-EA A2A 2.64000 05/15/2068 US 1,000,000 $1,035,184.90
63941RAB6 NAVSL 2019-2A A2 2.62675 02/27/2068 US 1,820,000 $1,833,661.28
64032XAA3 NSLT 2012-3A A MTGE FLT 2.32675 02/25/2045 US 1,057,532.76 $1,050,209.66
64033GAA9 NSLT 2013-5A A MTGE FLT 2.25675 01/25/2037 US 1,168,541.12 $1,154,980.90
64828AAA1 NRZT 2014-1A A 3.75000 01/25/2054 US 225,274.41 $237,701.43
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 100,549.31 $106,436.96
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 223,556.98 $236,137.58
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 190,411.52 $200,396.89
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 935,000 $950,845.26
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 900,000 $926,912.97
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 799,812.2 $827,698.45
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 2,790,000 $3,055,230.07
74331AAA0 2019- SFR4 CLASS A 2.68700 10/17/2036 US 800,000 $822,320.48
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 399,256.85 $403,327.31
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 910,000 $939,299.27
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 1,285,000 $1,291,425.00
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 581,773 $587,862.19
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 252,711.8 $254,568.68
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 2,280,000 $2,646,553.98
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 1,980,000 $2,200,869.67
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 123,151.41 $125,274.47
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 163,836.01 $167,735.80
81745FAA4 SEMT 2012-3 A1 3.50000 07/25/2042 US 245,912.59 $253,299.48
81746NAK4 SEMT 2016-3 A10 3.50000 11/25/2046 US 836,746.16 $860,018.16
81748MAD0 SEMT 2020-1 A4 3.50000 02/25/2050 US 873,263.12 $898,369.43
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 16,823.73 $16,829.22
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 150,000 $153,334.05
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 653,579.91 $660,427.07
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 453,993.63 $458,204.28
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 820,000 $850,068.09
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 1,740,000 $1,742,610.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.12850 11/15/2027 US 363,400.06 $361,541.12
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 902,740.59 $922,295.76
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 67,243.93 $67,454.55
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,550,000 $1,757,746.36
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 401,609.44 $406,812.49
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 355,237.41 $362,611.22
89177EAA7 TPMT 2019-HY1 A1 2.62675 10/25/2048 US 317,899.83 $319,618.59
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 483,787.84 $487,878.36
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 498,585.56 $514,153.69
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 5,664,443.75 $6,455,316.84
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 1,973,128.75 $2,267,625.06
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 9,887,000 $11,534,189.62
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 9,177,000 $11,833,669.83
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 5,000 $5,093.95
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 5,425,589.25 $5,614,205.74
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 5,495,099.44 $5,507,054.74
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 8,605,000 $8,921,973.26
912828VB3 UNITED STATES TREAS NTS 1.75000 05/15/2023 US 8,495,000 $8,724,630.47
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 8,230,000 $8,767,521.88
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 8,353,000 $8,852,222.22
912828YN4 US TREASURY FRN 1.45838 10/31/2021 US 2,170,000 $2,178,146.31
912828Z94 US TREASURY N/B 1.50000 02/15/2030 US 6,655,000 $6,887,145.10
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 2,590,000 $3,459,900.06
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 245,000 $245,163.24
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 694,484.26 $707,403.20
93065PAA9 WBHT 2019-WBM A FLT 2.70850 12/15/2033 US 415,000 $415,014.82
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 223,942.48 $224,990.33
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 1,495,000 $1,568,947.21
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 60,725.14 $60,802.30
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 106,480.13 $109,716.17

Investments will change over time.

Distributions

  • Core Bond Series Class W Distribution History
  • 2020 Distribution Calendar
  • First Quarter 2020 Distributions
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second 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

$11.10

Daily $ Change

$0.00

Daily % Change

0.00%

as of 04/06/2020

Ticker

MCBWX

CUSIP

56382R373

Inception Date

03/01/2019

This fund is only available to discretionary investment accounts and other accounts managed by 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 02/29/2020

YTD

3.76%

1 Year

11.57%

3 Year

4.53%

5 Year

3.24%

10 Year

4.21%

Inception
(04/21/2005)

4.59%

Market Cycle

---

Inception performance is based on the Core Bond Series Class S inception of 04/21/2005. For periods through 03/01/2019 (the inception date of the Class W shares), performance for the Class W shares is based on the historical performance of the Class S shares. Because the Class W shares invest in the same portfolio of securities as the Class S shares, performance will be different only to the extent that the Class S shares have a higher expense ratio. 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 0.38%
Net 0.05%*

*Reflects the Advisor's contractual agreement to waive its management fee and limit and reimburse certain other expenses. These contractual waivers may not be amended or terminated without the prior approval of the Fund's Board of Directors. The Class W shares are only available to discretionary investment accounts and other accounts managed by the Advisor. These clients pay a management fee to the Advisor that is separate from the fund's expenses.

Top Ten Investments

As of 02/29/2020

TREASURY NOTES 19.85%
GOVERNMENT AGENCY 19.21%
TREASURY BONDS 10.46%
TSY INFL IX N/B 2.00000 01/15/2026 2.89%
TSY INFL IX N/B 0.50000 04/15/2024 2.51%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.47%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.55%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.37%
BANK OF AMERICA CORP 4.00000 01/22/2025 1.34%
SABINE PASS LIQUEFACTION 5.87500 06/30/2026 1.18%

Top Ten Investments list is unaudited and excludes cash

Sector Allocation

As of 02/29/2020

Treasury
38.77%
Government
0.89%
Cash
1.07%
Corporate
21.58%
Mortgage
37.69%

Credit Quality Distribution

As of 02/29/2020

AAA
72.59%
AA
2.30%
A
5.78%
BBB
16.39%
NR
2.94%

February Fund Holdings

As of 02/29/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 1,820,000 $2,051,202.90
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 1,810,000 $1,995,951.89
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 1,025,000 $1,087,172.44
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,660,000 $1,788,064.30
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 2,070,000 $2,280,356.03
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 11,361.1 $11,430.55
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 1,060,000 $1,067,094.57
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 400,000 $408,568.84
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 2,750,000 $3,000,089.62
12510GAB8 CCG 2019-1 A2 2.80000 09/14/2026 US 1,769,523.5 $1,791,945.84
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 238,169.82 $245,057.64
12646WAH7 CSMC 2013-IVR2 A2 3.00000 04/25/2043 US 790,864.54 $812,694.77
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 197,768.37 $197,665.06
12647MBY0 CSMC 2013-6 2A1 3.50000 08/25/2043 US 675,182.34 $696,582.72
12647PAK4 CSMC 2013-7 A6 3.50000 08/25/2043 US 1,010,636.58 $1,046,404.02
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 204,214.58 $207,207.10
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 202,437.07 $203,318.64
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 960,000 $1,661,970.16
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 1,610,000 $1,739,874.66
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 1,423,258.55 $1,457,833.34
22534BAA2 CAALT 2018-1A A MTGE 3.01000 02/16/2027 US 900,000 $905,441.31
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 500,000 $502,558.45
22534GAC7 CAALT 2020-1A B 2.39000 04/16/2029 US 600,000 $604,282.50
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 2,190,000 $2,308,114.69
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 142,138.07 $139,768.03
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 1,870,000 $2,204,583.32
262006208 DREYFUS GVT CSH MANAGEMENT US 2,409,904.48 $2,409,904.48
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,330,000 $1,602,812.14
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 2,000,000 $2,019,408.94
30262SAR9 FREMF 2015-K42 B FLT 3.85083 12/25/2024 US 380,000 $409,904.14
30263HAL5 FREMF 2011-K15 B FLT 4.96071 08/25/2044 US 170,000 $176,880.75
30286XAN9 FREMF 2015-K43 B FLT 3.73341 02/25/2048 US 400,000 $429,740.32
30291XAE2 FREMF 2014-K715 B FLT 3.97097 02/25/2046 US 465,000 $472,279.53
3128E5VC0 FHLM POOL D98711 4.50000 07/01/2031 US 102,706.85 $111,341.89
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 33,458.94 $39,128.74
3128M7FQ4 FHLM POOL G05275 5.50000 02/01/2039 US 170,449.51 $190,102.10
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 76,623.07 $87,924.20
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 5,505.12 $5,633.98
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 3,774 $3,875.27
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 3,491.26 $3,619.96
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 5,783.4 $5,987.32
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 279,084.22 $302,463.82
3128MJJN1 FHLM POOL G08268 5.00000 05/01/2038 US 599,931.13 $678,651.47
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 89,147.09 $97,122.36
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 98,773.68 $107,389.48
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 121,209.79 $132,102.70
3128P8A92 FHLM POOL C91832 3.50000 06/01/2035 US 548,799.46 $580,362.16
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 251,054.76 $276,560.09
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 710,581.1 $783,161.42
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 1,061,219.85 $1,106,494.75
3132A5H40 FEDERAL NATL MTG ASSN FR ZS4751 3.50000 01/01/2048 US 1,008,263.8 $1,066,841.88
3132J8YK0 FHLM POOL Q17513 3.50000 04/01/2043 US 183,525.08 $195,370.29
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 675,194.55 $729,920.22
3132QUWT6 FHLM POOL Q37857 4.00000 12/01/2045 US 586,629.28 $630,617.40
3132QVKA8 FHLM POOL Q38388 4.00000 01/01/2046 US 678,698.16 $733,711.93
3132WL4Q6 FHLM POOL Q47130 4.50000 04/01/2047 US 223,274.51 $240,751.29
3132WML28 FHLM POOL FG Q47544 4.00000 03/01/2047 US 800,676.38 $867,141.38
3132Y06K1 FHLM POOL FG Q57173 4.50000 07/01/2048 US 632,883.98 $678,298.91
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 460,661.25 $492,560.68
3132Y3ZJ6 FHLM POOL FG Q59744 4.50000 11/01/2048 US 802,479.6 $860,072.33
31334WF97 FEDERA; NATL MTG ASSN FR QA0192 3.50000 06/01/2049 US 861,763.33 $898,941.22
31335A5Q7 FHLM POOL G60855 4.50000 12/01/2045 US 257,598.5 $281,244.95
31335ACG1 FHLM POOL G60071 4.50000 07/01/2042 US 270,128.61 $297,557.54
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 295,352.55 $317,501.34
31335ASA7 FHLM POOL G60513 5.00000 07/01/2041 US 621,262.7 $703,805.17
31335CCY8 FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 US 1,020,046.43 $1,105,880.99
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 123.48 $123.60
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 1,147,138.43 $1,189,306.81
3136AY6W8 FNA 2017-M15 A1 2.95932 09/25/2027 US 948,705.25 $1,009,568.39
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 563,576.03 $601,277.97
3137ADTK3 FHMS K014 X1 FLT 1.14924 04/25/2021 US 6,806,865.56 $68,581.21
3137AJMG6 FMHS K016 X1 FLT 1.47787 10/25/2021 US 1,014,266.81 $20,673.70
3137AUPF0 FHMS K021 x1 FLT 1.42177 06/25/2022 US 8,769,673.8 $240,287.31
3137B3NB0 FHMS K030 X1 FLT 0.18125 04/25/2023 US 13,045,908.76 $68,471.45
3137B4GZ3 FHMS K032 X1 FLT 0.09543 05/25/2023 US 7,669,271.1 $27,742.05
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 559,577.64 $574,071.71
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 439,223.5 $450,386.80
3138A5JC7 FEDERAL NATL MTG ASSN AH3858 4.50000 08/01/2041 US 418,412.61 $461,595.74
3138AJXA5 FEDERAL NATL MTG ASSN A15172 4.00000 08/01/2041 US 89,566.58 $96,995.53
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 135,605.18 $147,263.14
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 498,093.13 $569,133.76
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 2,063,119.69 $2,215,785.95
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 255,891.74 $280,002.11
3138Y22T9 FEDERAL NATL MTG ASSN FN AX1685 3.50000 11/01/2044 US 1,035,276.13 $1,116,244.38
3138YNR25 FEDERAL NATL MTG ASSN AY8604 3.50000 04/01/2045 US 206,632.42 $218,570.18
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 267,770.45 $307,560.08
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 666,798.78 $715,977.04
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 111,190.27 $117,547.58
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 107,111.03 $114,783.86
3140F8KD8 FEDERAL NATL MTG ASSN BD1191 3.50000 01/01/2047 US 472,149.12 $497,559.68
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 254,716.45 $273,106.63
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 152,876.67 $165,035.89
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 256,095.36 $273,692.06
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 279,708.23 $299,316.27
3140J9SN2 FEDERAL NATL MTG ASSN FN BM5024 3.00000 11/01/2048 US 2,099,031.95 $2,176,291.71
3140JAQM3 FEDERAL NATL MTG ASSN FN BM5859 4.00000 10/01/2048 US 757,596.08 $800,713.82
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 521,603.53 $557,219.65
3140K1TB2 FEDERAL NATL MTG ASSN FN BO5945 3.50000 11/01/2049 US 1,027,168 $1,071,638.68
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 569,630.29 $618,438.58
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 391,088.18 $419,876.24
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 955,581.14 $1,038,079.06
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 548,339.62 $594,220.26
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 1,088,155.11 $1,139,994.92
3140X5PS6 FEDERAL NATL MTG ASSN FN FM2232 4.00000 06/01/2048 US 464,594.87 $494,748.33
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 3,612.04 $3,687.31
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 4,263.94 $4,351.93
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 23,256.71 $23,540.70
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 27,310.35 $27,608.10
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 249,947.78 $286,151.35
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 37,766.44 $43,511.50
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 469.91 $473.44
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 15,490.15 $15,675.78
31416CJV9 FEDERAL NATL MTG ASSN 995876 6.00000 11/01/2038 US 107,145.39 $125,810.60
31418B2V7 FEDERAL NATL MTG ASSN MA2587 3.50000 04/01/2036 US 535,871.57 $563,488.39
31418B6G6 FEDERAL NATL MTG ASSN FN MA2670 3.00000 07/01/2046 US 317,754.56 $332,696.96
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 66,236.87 $72,099.19
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 2,728,558.27 $2,876,887.58
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 902,507.43 $946,285.36
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 1,779,822.08 $1,865,544.42
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 534,486.24 $562,652.51
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 800,660.44 $845,000.29
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 1,632,807.36 $1,695,150.17
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 37,491.8 $43,203.03
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 5,600.6 $5,902.53
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,050,000 $1,113,001.89
357081AE8 FREMF 2015-K720 B FLT 3.39225 07/25/2022 US 340,000 $351,100.08
35802XAH6 FRESENIUS MED CARE II 4.12500 10/15/2020 US 2,000,000 $2,017,472.94
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 450,000 $451,928.93
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 1,590,000 $1,556,562.30
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 459,987.14 $473,682.20
404119BX6 HCA INC 4.12500 06/15/2029 US 1,540,000 $1,689,834.41
43731QAA6 HPA 2019-1 A 2.90800 09/17/2039 US 983,269.54 $1,030,777.19
46187BAA1 IHSFR 2017-SFR2 A 2.50850 12/17/2036 US 143,274.3 $142,482.74
46187BAB9 IHSFR 2017-SFR2 B 2.80850 12/17/2036 US 115,000 $114,747.54
46635GAE0 JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 US 110,791.76 $111,298.61
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 99,353.83 $101,758.49
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 112,601.76 $116,158.96
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 133,733.72 $136,094.07
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 1,500,000 $1,626,230.61
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 537,422.2 $549,857.61
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 243,138.43 $250,673.53
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 371,010.99 $379,803.95
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 1,620,000 $2,171,260.23
63938EAC8 NAVSL 2014-1 A3 2.13675 06/25/2031 US 1,032,640.92 $1,016,253.53
63941MAB7 NAVSL 2019-EA A2A 2.64000 05/15/2068 US 1,000,000 $1,035,184.90
63941RAB6 NAVSL 2019-2A A2 2.62675 02/27/2068 US 1,820,000 $1,833,661.28
64032XAA3 NSLT 2012-3A A MTGE FLT 2.32675 02/25/2045 US 1,057,532.76 $1,050,209.66
64033GAA9 NSLT 2013-5A A MTGE FLT 2.25675 01/25/2037 US 1,168,541.12 $1,154,980.90
64828AAA1 NRZT 2014-1A A 3.75000 01/25/2054 US 225,274.41 $237,701.43
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 100,549.31 $106,436.96
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 223,556.98 $236,137.58
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 190,411.52 $200,396.89
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 935,000 $950,845.26
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 900,000 $926,912.97
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 799,812.2 $827,698.45
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 2,790,000 $3,055,230.07
74331AAA0 2019- SFR4 CLASS A 2.68700 10/17/2036 US 800,000 $822,320.48
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 399,256.85 $403,327.31
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 910,000 $939,299.27
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 1,285,000 $1,291,425.00
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 581,773 $587,862.19
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 252,711.8 $254,568.68
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 2,280,000 $2,646,553.98
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 1,980,000 $2,200,869.67
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 123,151.41 $125,274.47
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 163,836.01 $167,735.80
81745FAA4 SEMT 2012-3 A1 3.50000 07/25/2042 US 245,912.59 $253,299.48
81746NAK4 SEMT 2016-3 A10 3.50000 11/25/2046 US 836,746.16 $860,018.16
81748MAD0 SEMT 2020-1 A4 3.50000 02/25/2050 US 873,263.12 $898,369.43
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 16,823.73 $16,829.22
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 150,000 $153,334.05
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 653,579.91 $660,427.07
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 453,993.63 $458,204.28
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 820,000 $850,068.09
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 1,740,000 $1,742,610.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.12850 11/15/2027 US 363,400.06 $361,541.12
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 902,740.59 $922,295.76
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 67,243.93 $67,454.55
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,550,000 $1,757,746.36
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 401,609.44 $406,812.49
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 355,237.41 $362,611.22
89177EAA7 TPMT 2019-HY1 A1 2.62675 10/25/2048 US 317,899.83 $319,618.59
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 483,787.84 $487,878.36
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 498,585.56 $514,153.69
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 5,664,443.75 $6,455,316.84
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 1,973,128.75 $2,267,625.06
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 9,887,000 $11,534,189.62
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 9,177,000 $11,833,669.83
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 5,000 $5,093.95
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 5,425,589.25 $5,614,205.74
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 5,495,099.44 $5,507,054.74
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 8,605,000 $8,921,973.26
912828VB3 UNITED STATES TREAS NTS 1.75000 05/15/2023 US 8,495,000 $8,724,630.47
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 8,230,000 $8,767,521.88
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 8,353,000 $8,852,222.22
912828YN4 US TREASURY FRN 1.45838 10/31/2021 US 2,170,000 $2,178,146.31
912828Z94 US TREASURY N/B 1.50000 02/15/2030 US 6,655,000 $6,887,145.10
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 2,590,000 $3,459,900.06
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 245,000 $245,163.24
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 694,484.26 $707,403.20
93065PAA9 WBHT 2019-WBM A FLT 2.70850 12/15/2033 US 415,000 $415,014.82
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 223,942.48 $224,990.33
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 1,495,000 $1,568,947.21
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 60,725.14 $60,802.30
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 106,480.13 $109,716.17

Investments will change over time.

Distributions

  • Core Bond Series Class W Distribution History
  • 2020 Distribution Calendar
  • First Quarter 2020 Distributions
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second 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.


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