Fund Facts  

Inception Date: Oct 30, 2007
Ticker Symbol: VPDAX
Registration Date: Oct 30, 2007
Morningstar Category:Allocation--30% to 50% Equity
As of Jun 30, 2016
Fund Net Assets ($millions) $924

Documents for Fund or Underlying Fund(s)  

Description

Objective  

Long-term capital growth

Principal Investment Strategies  

The Fund employs multiple investment strategies to seek long-term growth of capital, with lower volatility over time than that of stocks in general and a risk/return profile different from that of traditional asset classes, such as stocks and fixed income securities. In combination, the Fund’s investment strategies seek to provide investment exposure to U.S. and foreign convertible securities, stocks, fixed income securities, and real estate investment trusts (“REITS”) through direct investments or through the use of derivative instruments. The Fund currently uses the following investment strategies:

• Convertible Securities Strategy;
• Enhanced Equity Strategy;
• Low Duration-Plus Fixed Income Strategy; and
• Passive REIT Index Strategy.

Each of these investment strategies is described in more detail below.
• Convertible Securities Strategy—The Fund allocates a portion of its assets to a portfolio of convertible securities of U.S. or foreign companies (which may include issuers located in emerging market countries). Convertible securities, which include convertible bonds and convertible preferred stocks, possess investment characteristics of both stocks and bonds. The Fund’s subadvisers seek to invest in those convertible securities they believe represent an attractive risk/reward potential. The majority of these securities are rated below investment grade or are unrated. The Fund’s subadvisers also may invest in a combination of either convertible or non-convertible bonds, and common stocks or equity options, to seek to replicate the investment exposure of convertible securities or to seek to manage risk. The subadvisers implementing the Fund’s convertible securities strategy may also invest in other types of fixed income and equity securities, including “restricted” securities, such as Rule 144A securities.
• Enhanced Equity Strategy—Another portion of the Fund’s assets invests in a portfolio of Russell 2000® Index futures contracts and U.S. and foreign fixed income securities. This strategy’s subadviser utilizes Russell 2000 Index futures contracts or swap agreements to gain equity exposure, combined with purchasing U.S. and foreign fixed income securities seeking to generate returns in excess of the futures contracts’ or swap agreements’ implied financing costs. The Fund’s U.S. and foreign fixed income securities in this portion of the Fund’s portfolio (1) are held, in part, as collateral in conjunction with the Fund’s use of futures contracts; (2) may include government and agency securities, corporate bonds, mortgage-backed securities, asset-backed securities, and municipal securities; and (3) generally have a portfolio effective duration of no greater than three years. Effective duration is a measure of the expected change in value of a fixed income security for a given change in interest rates, and takes into account that expected cash flows will fluctuate as interest rates change. For example, the value of a fixed income security with an effective duration of two years would be expected to decline around 2% if interest rates rose by 1%. Conversely, the value of the same fixed income security would be expected to increase around 2% if interest rates fell by 1%. The fixed income securities in this portion of the Fund are generally investment grade securities.
• Low Duration-Plus Fixed Income Strategy—Another portion of the Fund’s portfolio invests in core short and intermediate maturity fixed income securities (including securities issued or guaranteed by the U.S. Government or foreign governments and their agencies or instrumentalities, and U.S. and foreign mortgage-backed and asset backed securities) that combined generally have a portfolio effective duration of no greater than three years.

The strategy’s core fixed income securities are generally investment grade securities (i.e., securities rated within the four highest grades by Standard & Poor’s, Moody’s Investors Service, Inc. (“Moody’s”), or Fitch Ratings (“Fitch”) or unrated securities that the subadviser determines are of comparable quality) that the subadviser to this portion of the Fund believes provide return opportunities because they are priced below fair market value relative to securities of similar credit quality and interest rate sensitivity. Plus, the strategy also incorporates investments in non-core sectors and securities which may include but are not limited to below investment grade and unrated securities, foreign securities, including securities of issuers located in emerging market countries, inflation-adjusted securities, floating rate loans, and currencies that the subadviser believes offer attractive investment opportunities. The subadviser may use futures and swaps as part of this fixed income strategy and may seek to reduce risk of loss due to currency fluctuations by hedging its non-U.S. dollar exposure, using a variety of techniques, including forward currency contracts.
• Passive REIT Index Strategy—Another portion of the Fund’s assets invests in a portfolio of REIT and REIT-like securities included in the Dow Jones U.S. Select REIT Index™, following an indexed or passively managed approach to investing. The subadviser to this portion of the Fund seeks to approximate the investment characteristics and performance of the Dow Jones U.S. Select REIT Index by investing in REITs and REIT-like securities included in that index. The Dow Jones U.S. Select REIT Index is an unmanaged index that intends to measure the performance of publicly traded REITs and REIT-like securities. The index is a subset of the Dow Jones U.S. Select Real Estate Securities Index, which represents equity REITs and real estate operating companies traded in the U.S.

Additional Information About the Fund’s Principal Investment Strategies

A significant portion of the Fund’s assets may be invested in “below investment grade” securities (commonly known as “high yield securities” or “junk bonds”). Below investment grade securities are those rated below the four highest categories by Standard & Poor’s (below BBB), Moody’s (below Baa), or Fitch (below BBB), or are unrated securities that the Fund’s subadvisers determine are of comparable quality. The Fund’s below investment grade securities or instruments (which include fixed income securities, convertible securities, preferred stock, and floating rate loans) generally will not exceed, in the aggregate, 55% of the Fund’s net assets, with additional limits as specified below.

The Fund limits its aggregate investments in (i) fixed income securities that are rated below investment grade, excluding convertible bonds; and (ii) floating rate loans so that, taken together, they generally will not be more than 15% of the Fund’s net assets.

The Fund limits its investments in convertible securities, which include convertible bonds and convertible preferred stocks, such that they generally will remain below 45% of the Fund’s net assets.

Under normal circumstances, the Fund invests at least 40% of its net assets in fixed income securities in addition to its investments in convertible bonds.

In addition to Russell 2000 Index futures contracts, the Fund's subadvisers also may use other derivative instruments, including futures and options, swap agreements, swaptions, and forward currency contracts, to achieve desired investment exposure, enhance portfolio efficiency, or manage risk. Trading in derivative instruments is used as an alternative to, or in conjunction with, buying, selling and holding stocks and fixed income securities.

The Fund’s investments in credit default swaps, if any, will be less than 5% of the Fund’s net assets.

The Fund is available for investment only by the Vantagepoint Model Portfolio Funds and Vantagepoint Milestone Funds.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. The Fund’s principal investment risks include Convertible Securities Risk, Interest Rate Risk, Credit Risk, High Yield Securities Risk, Small-Cap Securities Risk, Derivative Instruments Risk, Foreign Securities Risk, U.S. Government Agency Securities Risk, Asset-Backed Securities Risk, Mortgage-Backed Securities Risk, REITs Risk, Indexing Risk, Foreign Currency Risk, Municipal Securities Risk, Floating Rate Loans Risk, Call Risk, Stock Market Risk, Portfolio Turnover Risk, Multi-Manager Risk.
Please see the Risk Glossary for additional information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Jun 30, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
VP Diversifying Strategies T   2.79%2.58%-2.45%3.00%2.52%N/A2.11%
S&P 500 Indexa,b2.46%3.84%3.99%11.66%12.10%7.42%N/A
Custom Benchmarkc2.12%3.99%4.56%7.94%7.88%N/AN/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses
Total Expenses   0.49%

 

a. The S&P 500 Index consists of 500 companies representing larger capitalization stocks traded in the U.S.

b. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2016 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

c. The Vantagepoint Diversifying Strategies Fund’s custom benchmark is comprised of the S&P 500 Index and Barclays U.S. Intermediate Aggregate Bond Index. Prior to May 1, 2014, the weightings were 50% S&P 500 Index and 50% Barclays U.S. Intermediate Aggregate Bond Index. Beginning May 1, 2014, the weightings were 60% S&P 500 Index and 40% Barclays U.S. Intermediate Aggregate Bond Index. The S&P 500 Index consists of 500 companies representing larger capitalization stocks traded in the U.S. The Barclays U.S. Intermediate Aggregate Bond Index consists of investment-grade U.S. fixed income securities with maturities of 1 to 10 years.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Dec 18, 2015Dec 18, 2015$0.264308000
Dec 19, 2014Dec 19, 2014$0.689129000
Dec 20, 2013Dec 20, 2013$0.318116000
Dec 31, 2012Dec 31, 2012$0.002435000
Dec 17, 2012Dec 17, 2012$0.200595000
Dec 16, 2011Dec 16, 2011$0.159169000
 

Morningstar Information

Morningstar Rating   As of Jun 30, 2016
Period Stars Category Size
Overall 2 Stars480
3-Year 2 Stars480
5-Year 1 Stars409
10-Year N/A N/A

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, fee waivers, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. For funds with loads, the Morningstar rating on a load-waived basis is provided, when available. Load-waived ratings do not include any front- or back-end sales loads and are intended for investors that have access to such purchase terms. Funds with loads are waived for plans administered by ICMA-RC. Past performance is no guarantee of future results.

 

Characteristics

Top Ten Holdings As of Jun 30, 2016
Holding NamePercent
RUSSELL 2000 MINI EQUITY INDEX SEP16 (RTAU6)30.1%
UNITED STATES TREASURY NOTE/BOND .875% 05/31/20182.6%
FIDELITY INSTITUTIONAL MONEY MARKET2.6%
UNITED STATES TREASURY NOTE/BOND .875% 06/15/20192.0%
UNITED STATES TREASURY NOTE/BOND 1% 12/31/20172.0%
UNITED STATES TREASURY NOTE/BOND 1% 08/15/20181.9%
UNITED STATES TREASURY NOTE/BOND 1% 02/15/20181.5%
UNITED STATES TREASURY NOTE/BOND 1% 03/15/20191.1%
CITRIX SYSTEMS INC .5% 04/15/20191.0%
UNITED STATES TREASURY NOTE/BOND 1% 05/15/20181.0%
All Holdings As of Jun 30, 2016
Equity
Holding NameMarket Value
SIMON PROPERTY GROUP INC$5,246,160
AMERICAN TOWER CORP$3,785,184
ALLERGAN PLC$3,726,281
PUBLIC STORAGE$2,944,908
WELLTOWER INC$2,126,133
PROLOGIS INC$2,014,514
SOUTHWESTERN ENERGY CO$2,013,690
EQUITY RESIDENTIAL$1,968,590
AVALONBAY COMMUNITIES INC$1,934,683
VENTAS INC$1,917,642
BOSTON PROPERTIES INC$1,577,920
VORNADO REALTY TRUST$1,383,658
GENERAL GROWTH PROPERTIES INC$1,353,739
HCP INC$1,287,018
TEVA PHARMACEUTICAL INDUSTRIES LTD$1,276,888
DIGITAL REALTY TRUST INC$1,252,186
ESSEX PROPERTY TRUST INC$1,162,347
ANTHEM INC$1,082,466
KIMCO REALTY CORP$1,027,507
HOST HOTELS & RESORTS INC$943,438
FEDERAL REALTY INVESTMENT TRUST$918,306
EXTRA SPACE STORAGE INC$902,358
MACERICH CO/THE$839,384
SL GREEN REALTY CORP$836,961
MCDERMOTT INTERNATIONAL INC$799,449
FRONTIER COMMUNICATIONS CORP$796,488
WPX ENERGY INC$784,890
UDR INC$768,121
KINDER MORGAN INC/DE$742,520
DUKE REALTY CORP$718,274
CROWN CASTLE INTERNATIONAL CORP$699,381
HESS CORP$644,130
REGENCY CENTERS CORP$636,515
MID-AMERICA APARTMENT COMMUNITIES INC$628,292
CAMDEN PROPERTY TRUST$604,704
ALEXANDRIA REAL ESTATE EQUITIES INC$595,240
APARTMENT INVESTMENT & MANAGEMENT CO$544,095
AMERICAN CAMPUS COMMUNITIES INC$540,279
EQUITY LIFESTYLE PROPERTIES INC$505,276
KILROY REALTY CORP$475,896
LIBERTY PROPERTY TRUST$458,885
DDR CORP$434,707
CUBESMART$426,484
BRIXMOR PROPERTY GROUP INC$426,350
HIGHWOODS PROPERTIES INC$401,227
DOUGLAS EMMETT INC$390,720
SENIOR HOUSING PROPERTIES TRUST$387,271
SUN COMMUNITIES INC$385,039
FOREST CITY REALTY TRUST INC$378,779
SOVRAN SELF STORAGE INC$376,663
WEINGARTEN REALTY INVESTORS$367,298
TAUBMAN CENTERS INC$353,860
HOSPITALITY PROPERTIES TRUST$346,003
DCT INDUSTRIAL TRUST INC$336,808
ANADARKO PETROLEUM CORP$300,612
TANGER FACTORY OUTLET CENTERS$297,211
EQUITY COMMONWEALTH$288,387
HEALTHCARE REALTY TRUST INC$288,248
AMERICAN HOMES 4 RENT$280,392
DUPONT FABROS TECHNOLOGY INC$277,301
POST PROPERTIES INC$258,852
FIRST INDUSTRIAL REALTY TRUST INC$253,162
PIEDMONT OFFICE REALTY TRUST INC$248,141
EDUCATION REALTY TRUST INC$236,560
APPLE HOSPITALITY REIT INC$232,398
BRANDYWINE REALTY TRUST$231,840
EQUITY ONE INC$230,956
CORPORATE OFFICE PROPERTIES TRUST$221,213
URBAN EDGE PROPERTIES$217,829
RLJ LODGING TRUST$213,985
COLUMBIA PROPERTY TRUST INC$207,580
LASALLE HOTEL PROPERTIES$207,174
SUNSTONE HOTEL INVESTORS INC$203,536
HUDSON PACIFIC PROPERTIES INC$201,663
ACADIA REALTY TRUST$195,396
MACK-CALI REALTY CORP$191,592
KITE REALTY GROUP TRUST$181,494
WASHINGTON REAL ESTATE INVESTMENT TRUST$177,749
EASTGROUP PROPERTIES INC$176,987
CARE CAPITAL PROPERTIES INC$175,214
RETAIL OPPORTUNITY INVESTMENTS CORP$170,261
PS BUSINESS PARKS INC$165,060
WP GLIMCHER INC$164,437
COUSINS PROPERTIES INC$164,320
LTC PROPERTIES INC$149,965
PEBBLEBROOK HOTEL TRUST$147,473
XENIA HOTELS & RESORTS INC$144,560
DIAMONDROCK HOSPITALITY CO$140,868
MONOGRAM RESIDENTIAL TRUST INC$135,017
RAMCO-GERSHENSON PROPERTIES TRUST$119,621
NEW YORK REIT INC$119,381
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST$116,323
CBL & ASSOCIATES PROPERTIES INC$110,603
REXFORD INDUSTRIAL REALTY INC$107,158
PARKWAY PROPERTIES INC/MD$105,399
COLONY STARWOOD HOMES$87,883
FRANKLIN STREET PROPERTIES CORP$84,099
HERSHA HOSPITALITY TRUST$63,026
FELCOR LODGING TRUST INC$62,923
SERITAGE GROWTH PROPERTIES$56,120
TIER REIT INC$55,188
SAUL CENTERS INC$54,181
UNIVERSAL HEALTH REALTY INCOME TRUST$53,749
ROUSE PROPERTIES INC$52,925
SILVER BAY REALTY TRUST CORP$47,684
CEDAR REALTY TRUST INC$42,351
FIRST POTOMAC REALTY TRUST$41,713
NATIONAL STORAGE AFFILIATES TRUST$37,143
ASHFORD HOSPITALITY TRUST INC$35,442
NEXPOINT RESIDENTIAL TRUST INC$30,339
ASHFORD HOSPITALITY PRIME INC$27,417
 
Fixed Income
Holding NameMarket Value
UNITED STATES TREASURY NOTE/BOND .875% 05/31/2018$24,147,344
UNITED STATES TREASURY NOTE/BOND .875% 06/15/2019$18,456,825
UNITED STATES TREASURY NOTE/BOND 1% 12/31/2017$18,113,202
UNITED STATES TREASURY NOTE/BOND 1% 08/15/2018$17,476,523
UNITED STATES TREASURY NOTE/BOND 1% 02/15/2018$14,117,947
UNITED STATES TREASURY NOTE/BOND 1% 03/15/2019$10,549,077
CITRIX SYSTEMS INC .5% 04/15/2019$9,632,850
UNITED STATES TREASURY NOTE/BOND 1% 05/15/2018$9,068,733
MICROCHIP TECHNOLOGY INC 1.625% 02/15/2025$7,560,750
PRICELINE GROUP INC/THE .35% 06/15/2020$7,367,618
ELECTRONICS FOR IMAGING INC .75% 09/01/2019$7,354,097
DYCOM INDUSTRIES INC .75% 09/15/2021$7,131,281
JAZZ INVESTMENTS I LTD 1.875% 08/15/2021$6,624,774
NUVASIVE INC 2.25% 03/15/2021$6,425,194
MEDIDATA SOLUTIONS INC 1% 08/01/2018$6,358,300
INTERDIGITAL INC/PA 1.5% 03/01/2020$6,197,793
UNITED STATES TREASURY NOTE/BOND .75% 02/28/2018$5,974,522
CARDTRONICS INC 1% 12/01/2020$5,845,515
NXP SEMICONDUCTORS NV 1% 12/01/2019$5,831,704
STARWOOD PROPERTY TRUST INC 4.55% 03/01/2018$5,602,875
EXTRA SPACE STORAGE LP 3.125% 10/01/2035$5,444,704
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1% 02/26/2019$5,247,739
PROOFPOINT INC .75% 06/15/2020$5,180,391
UNITED STATES TREASURY NOTE/BOND 1.125% 06/15/2018$5,050,975
INVITATION HOMES 2014-SFR1 TRUST 1.446% 06/17/2031$5,027,587
CTRIP.COM INTERNATIONAL LTD 1% 07/01/2020$4,880,363
HURON CONSULTING GROUP INC 1.25% 10/01/2019$4,863,278
ALLSCRIPTS HEALTHCARE SOLUTIONS INC 1.25% 07/01/2020$4,807,963
RTI INTERNATIONAL METALS INC 1.625% 10/15/2019$4,681,740
HERBALIFE LTD 2% 08/15/2019$4,461,639
ARES CAPITAL CORP 4.375% 01/15/2019$4,409,844
BIOMARIN PHARMACEUTICAL INC .75% 10/15/2018$4,300,734
AKAMAI TECHNOLOGIES INC 0% 02/15/2019$4,080,977
TWITTER INC 1% 09/15/2021$3,938,000
MACQUARIE INFRASTRUCTURE CORP 2.875% 07/15/2019$3,899,375
INTEGRATED DEVICE TECHNOLOGY INC .875% 11/15/2022$3,807,113
LIBERTY MEDIA CORP 1.375% 10/15/2023$3,742,969
SPIRIT REALTY CAPITAL INC 2.875% 05/15/2019$3,706,561
J2 GLOBAL INC 3.25% 06/15/2029$3,662,565
FDIC GUARANTEED NOTES TRUST 2010-S1 3.25% 04/25/2038$3,594,830
IMPAX LABORATORIES INC 2% 06/15/2022$3,478,093
COLONY AMERICAN HOMES 2015-1 1.646% 07/17/2032$3,456,693
INTEL CORP 2.95% 12/15/2035$3,426,928
NUANCE COMMUNICATIONS INC 1% 12/15/2035$3,384,763
TOLL BROTHERS FINANCE CORP .5% 09/15/2032$3,354,588
NEDERLANDSE WATERSCHAPSBANK NV 1.25% 09/18/2017$3,317,955
EURONET WORLDWIDE INC 1.5% 10/01/2044$3,305,881
PORSCHE INNOVATIVE LEASE OWNER TRUST 201 1.19% 07/23/2018$3,304,224
CREDIT SUISSE AG/NEW YORK NY 1.375% 05/26/2017$3,243,078
WORKDAY INC .75% 07/15/2018$3,122,000
VERINT SYSTEMS INC 1.5% 06/01/2021$3,118,619
LIVE NATION ENTERTAINMENT INC 2.5% 05/15/2019$3,110,153
INVITATION HOMES 2014-SFR2 TRUST 1.546% 09/17/2031$3,075,765
SHUTTERFLY INC .25% 05/15/2018$3,056,569
SYNCHRONOSS TECHNOLOGIES INC .75% 08/15/2019$3,031,849
CARMAX AUTO OWNER TRUST 2015-2 1.37% 03/16/2020$2,995,456
INTEGRA LIFESCIENCES HOLDINGS CORP 1.625% 12/15/2016$2,975,266
BROOKDALE SENIOR LIVING INC 2.75% 06/15/2018$2,961,488
RED HAT INC .25% 10/01/2019$2,958,525
GENERAL MOTORS FINANCIAL CO INC 2.4% 04/10/2018$2,924,038
STILLWATER MINING CO 1.75% 10/15/2032$2,915,055
STANDARD CHARTERED PLC 1.5% 09/08/2017$2,889,615
KOMMUNINVEST I SVERIGE AB 1.5% 04/23/2019$2,882,285
ILLUMINA INC 0% 06/15/2019$2,872,631
WRIGHT MEDICAL GROUP NV 2.25% 11/15/2021$2,868,656
FEDERAL HOME LOAN MORTGAGE CORP 1.125% 04/15/2019$2,845,132
BECTON DICKINSON AND CO 1.45% 05/15/2017$2,817,902
CALATLANTIC GROUP INC 1.625% 05/15/2018$2,805,388
YAHOO! INC 0% 12/01/2018$2,788,013
HEWLETT PACKARD ENTERPRISE CO 2.85% 10/05/2018$2,786,958
ROVI CORP .5% 03/01/2020$2,782,550
CEPHEID 1.25% 02/01/2021$2,763,844
WEATHERFORD INTERNATIONAL LTD 5.875% 07/01/2021$2,739,778
ON SEMICONDUCTOR CORP 1% 12/01/2020$2,696,250
DIAMOND 1 FINANCE CORP / DIAMOND 2 FINAN 3.48% 06/01/2019$2,675,550
ROYAL GOLD INC 2.875% 06/15/2019$2,671,375
AMGEN INC 1.25% 05/22/2017$2,664,868
SOUTHERN CALIFORNIA EDISON CO 1.845% 02/01/2022$2,641,123
MMAF EQUIPMENT FINANCE LLC 2015-A 1.39% 10/16/2019$2,639,102
AETNA INC 1.9% 06/07/2019$2,584,955
WRIGHT MEDICAL GROUP INC 2% 02/15/2020$2,572,500
CHASE ISSUANCE TRUST 1.15% 01/15/2019$2,555,340
HEALTHSOUTH CORP 2% 12/01/2043$2,550,000
CEMEX SAB DE CV 3.72% 03/15/2020$2,515,509
WEBMD HEALTH CORP 2.625% 06/15/2023$2,495,691
IRONWOOD PHARMACEUTICALS INC 2.25% 06/15/2022$2,491,088
MOLINA HEALTHCARE INC 1.625% 08/15/2044$2,481,172
PRICELINE GROUP INC/THE .9% 09/15/2021$2,474,570
ROYAL BANK OF CANADA 1.625% 04/15/2019$2,459,093
HILTON USA TRUST 2013-HLF 1.463% 11/05/2030$2,418,032
NATIONAL HEALTH INVESTORS INC 3.25% 04/01/2021$2,394,900
JP MORGAN CHASE COMMERCIAL MORTGAGE SECU 1.692% 01/15/2032$2,375,746
INTERNATIONAL LEASE FINANCE CORP 3.875% 04/15/2018$2,368,302
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 1.25% 05/23/2017$2,357,168
LAM RESEARCH CORP 1.25% 05/15/2018$2,355,881
ECHO GLOBAL LOGISTICS INC 2.5% 05/01/2020$2,325,969
BANK NEDERLANDSE GEMEENTEN NV 1% 02/12/2018$2,325,468
UNITED STATES TREASURY NOTE/BOND 1% 09/15/2018$2,308,920
NEWMONT MINING CORP 1.625% 07/15/2017$2,294,078
CREDIT AGRICOLE SA/LONDON 1.428% 04/15/2019$2,292,990
TRADE MAPS 1 LTD 1.145% 12/10/2018$2,291,063
HOLOGIC INC 2% 03/01/2042$2,268,025
TTM TECHNOLOGIES INC 1.75% 12/15/2020$2,234,589
SIEMENS FINANCIERINGSMAATSCHAPPIJ NV 1.65% 08/16/2019$2,185,900
CAISSE D'AMORTISSEMENT DE LA DETTE SOCIA 1.25% 03/12/2018$2,169,990
WEB.COM GROUP INC 1% 08/15/2018$2,163,038
FEDERAL HOME LOAN MORTGAGE CORP 2.614% 09/01/2035$2,154,063
VECTOR GROUP LTD 5.5% 04/15/2020$2,138,400
NUANCE COMMUNICATIONS INC 1.5% 11/01/2035$2,107,613
EMPIRE STATE REALTY OP LP 2.625% 08/15/2019$2,086,700
HORIZON PHARMA INVESTMENT LTD 2.5% 03/15/2022$2,084,940
INPHI CORP 1.125% 12/01/2020$2,084,461
ALLY FINANCIAL INC 3.25% 09/29/2017$2,075,450
BP CAPITAL MARKETS PLC 1.674% 02/13/2018$1,995,660
CHASE ISSUANCE TRUST .692% 04/15/2019$1,995,098
TESLA MOTORS INC 1.25% 03/01/2021$1,984,500
AT&T INC 2.3% 03/11/2019$1,982,577
SYNCHRONY CREDIT CARD MASTER NOTE TRUST 1.6% 04/15/2021$1,973,826
GLENCORE FINANCE CANADA LTD 2.7% 10/25/2017$1,969,216
SALESFORCE.COM INC .25% 04/01/2018$1,960,978
BB&T CORP 1.297% 02/01/2019$1,945,250
BIOMARIN PHARMACEUTICAL INC 1.5% 10/15/2020$1,927,675
BNZ INTERNATIONAL FUNDING LTD/LONDON 1.9% 02/26/2018$1,914,968
CITIZENS BANK NA/PROVIDENCE RI 1.6% 12/04/2017$1,901,417
SERVICENOW INC 0% 11/01/2018$1,888,575
CAPITAL AUTO RECEIVABLES ASSET TRUST 201 1.39% 09/20/2018$1,883,022
ASIAN DEVELOPMENT BANK .75% 07/28/2017$1,881,186
STMICROELECTRONICS NV 0% 07/03/2019$1,858,000
CSMC TRUST 2013-IVR2 1.55% 04/25/2043$1,853,210
VIPSHOP HOLDINGS LTD 1.5% 03/15/2019$1,851,563
COLONY AMERICAN HOMES 2014-2 1.393% 07/17/2031$1,847,637
DISCOVER BANK/GREENWOOD DE 2.6% 11/13/2018$1,828,080
MACQUARIE BANK LTD 1.6% 10/27/2017$1,802,270
WELLS FARGO BANK NA 1.75% 05/24/2019$1,794,700
AUSTRALIA & NEW ZEALAND BANKING GROUP LT 2% 11/16/2018$1,794,674
TALEN ENERGY SUPPLY LLC 4.625% 07/15/2019$1,783,275
WESTPAC BANKING CORP 1.95% 11/23/2018$1,748,410
KNOWLES CORP 3.25% 11/01/2021$1,745,494
BRANCH BANKING & TRUST CO 1.45% 05/10/2019$1,737,660
PATTERN ENERGY GROUP INC 4% 07/15/2020$1,734,581
DEPOMED INC 2.5% 09/01/2021$1,733,615
ACTAVIS FUNDING SCS 2.35% 03/12/2018$1,728,950
COLONY STARWOOD HOMES 3% 07/01/2019$1,727,700
ENCORE CAPITAL GROUP INC 3% 07/01/2020$1,715,766
BANK OF AMERICA CORP 1.717% 03/22/2018$1,709,328
EUROPEAN INVESTMENT BANK 1.125% 08/15/2018$1,708,463
MANUFACTURERS & TRADERS TRUST CO 1.4% 07/25/2017$1,702,020
KRAFT HEINZ FOODS CO 2% 07/02/2018$1,691,812
TUTOR PERINI CORP 2.875% 06/15/2021$1,690,500
HSBC BANK PLC 1.266% 05/15/2018$1,683,287
FORD MOTOR CREDIT CO LLC 1.684% 09/08/2017$1,674,163
UBS AG/STAMFORD CT 1.8% 03/26/2018$1,666,121
CTRIP.COM INTERNATIONAL LTD 1.99% 07/01/2025$1,661,006
BANK OF TOKYO-MITSUBISHI UFJ LTD/THE 1.45% 09/08/2017$1,659,477
NEWELL BRANDS INC 2.15% 10/15/2018$1,658,273
ANTHEM INC 2.375% 02/15/2017$1,657,328
INSULET CORP 2% 06/15/2019$1,645,920
LIONS GATE ENTERTAINMENT CORP 5.25% 08/01/2018$1,644,300
DAIMLER FINANCE NORTH AMERICA LLC 1.65% 03/02/2018$1,639,377
MORGAN STANLEY 1.774% 01/27/2020$1,637,136
ABBVIE INC 1.75% 11/06/2017$1,630,104
SUNTORY HOLDINGS LTD 1.65% 09/29/2017$1,625,613
HOLOGIC INC 0% 12/15/2043$1,623,694
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.653% 07/25/2024$1,617,241
AIRCASTLE LTD 6.75% 04/15/2017$1,604,696
ZIMMER BIOMET HOLDINGS INC 2% 04/01/2018$1,603,970
FIREEYE INC 1.625% 06/01/2035$1,591,941
CITIGROUP INC 1.55% 08/14/2017$1,565,502
CSG SYSTEMS INTERNATIONAL INC 4.25% 03/15/2036$1,559,813
NABORS INDUSTRIES INC 2.35% 09/15/2016$1,547,677
SANTANDER UK PLC 1.65% 09/29/2017$1,544,963
CIENA CORP 3.75% 10/15/2018$1,535,156
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.972% 07/01/2041$1,533,027
CAPITAL ONE NA/MCLEAN VA 1.5% 09/05/2017$1,519,736
TESLA MOTORS INC .25% 03/01/2019$1,517,450
SUNPOWER CORP 4% 01/15/2023$1,508,925
PROVINCE OF BRITISH COLUMBIA CANADA 1.2% 04/25/2017$1,507,041
L-3 COMMUNICATIONS CORP 1.5% 05/28/2017$1,501,647
BROADSOFT INC 1% 09/01/2022$1,501,369
TENET HEALTHCARE CORP 6.25% 11/01/2018$1,496,720
AP MOELLER - MAERSK A/S 2.55% 09/22/2019$1,479,573
AMTRUST FINANCIAL SERVICES INC 2.75% 12/15/2044$1,468,625
CDW LLC TERM LOAN 3.25% 09/30/2016$1,463,040
DAIMLER FINANCE NORTH AMERICA LLC 1.375% 08/01/2017$1,453,287
BROCADE COMMUNICATIONS SYSTEMS INC 1.375% 01/01/2020$1,449,788
MIZUHO BANK LTD 1.28% 03/26/2018$1,447,106
COLONY CAPITAL INC 5% 04/15/2023$1,428,680
AT&T INC 1.577% 11/27/2018$1,407,700
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.403% 05/25/2024$1,394,018
NEVRO CORP 1.75% 06/01/2021$1,391,775
THOMSON REUTERS CORP 1.65% 09/29/2017$1,386,326
ING BANK NV 2% 11/26/2018$1,380,010
ARAMARK CORP US TLE 3.25% 09/30/2016$1,356,266
INVITATION HOMES 2015-SFR3 TRUST 1.746% 08/17/2032$1,355,222
VERIZON COMMUNICATIONS INC 1.35% 06/09/2017$1,353,923
HYUNDAI CAPITAL AMERICA 1.45% 02/06/2017$1,341,796
TEVA PHARMACEUTICAL FINANCE CO LLC .25% 02/01/2026$1,327,322
MICRON TECHNOLOGY INC 3% 11/15/2043$1,319,175
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.703% 10/25/2028$1,318,269
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.603% 09/25/2028$1,312,670
SCORPIO TANKERS INC 2.375% 07/01/2019$1,312,638
JPMORGAN CHASE & CO 1.538% 01/25/2018$1,306,617
FMS WERTMANAGEMENT AOER 1.125% 09/05/2017$1,305,929
MORGAN STANLEY 2.45% 02/01/2019$1,304,842
WESTLAKE AUTOMOBILE RECEIVABLES TRUST 20 2.3% 11/15/2019$1,285,509
IMPERIAL BRANDS FINANCE PLC 2.05% 07/20/2018$1,284,878
SEACOR HOLDINGS INC 3% 11/15/2028$1,279,950
METROPOLITAN LIFE GLOBAL FUNDING I 1.95% 12/03/2018$1,279,081
AMERICAN EXPRESS CO 1.244% 05/22/2018$1,267,567
SPECTRANETICS CORP/THE 2.625% 06/01/2034$1,256,700
MEDICINES CO/THE 2.75% 07/15/2023$1,252,875
TOYOTA MOTOR CREDIT CORP 1.125% 05/16/2017$1,251,943
SYNCHRONY FINANCIAL 1.875% 08/15/2017$1,247,267
BANK OF AMERICA CORP 1.7% 08/25/2017$1,244,990
GOLDMAN SACHS GROUP INC/THE 1.726% 11/15/2018$1,243,456
MORGAN STANLEY 1.378% 07/23/2019$1,240,116
JOHN DEERE CAPITAL CORP 1.4% 03/15/2017$1,237,833
SEQUOIA MORTGAGE TRUST 2013-4 1.55% 04/25/2043$1,233,590
CNH INDUSTRIAL CAPITAL LLC 3.875% 07/16/2018$1,229,150
CITIGROUP INC 2.05% 12/07/2018$1,220,333
KUBOTA CREDIT OWNER TRUST 2015-1 .94% 12/15/2017$1,217,090
COMPASS BANK 1.85% 09/29/2017$1,216,798
ACTAVIS FUNDING SCS 1.911% 03/12/2020$1,214,341
CIT GROUP INC 5.25% 03/15/2018$1,213,517
TIAA ASSET MANAGEMENT FINANCE CO LLC 2.95% 11/01/2019$1,209,815
WORKDAY INC 1.5% 07/15/2020$1,205,016
AMERIGAS PARTNERS LP / AMERIGAS FINANCE 6.25% 08/20/2019$1,203,600
SUNTRUST BANK/ATLANTA GA 1.35% 02/15/2017$1,201,598
SANTANDER BANK NA 2% 01/12/2018$1,199,767
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.053% 01/25/2024$1,199,388
COMMONWEALTH BANK OF AUSTRALIA/NEW YORK 1.75% 11/02/2018$1,198,948
PROOFPOINT INC 1.25% 12/15/2018$1,198,072
BANK OF NEW YORK MELLON CORP/THE 1.197% 08/01/2018$1,192,884
SANTANDER DRIVE AUTO RECEIVABLES TRUST 2 2.66% 11/15/2021$1,190,756
UNITED STATES TREASURY NOTE/BOND .875% 11/30/2017$1,185,024
PNC BANK NA 1.95% 03/04/2019$1,167,747
ING BANK NV 2.3% 03/22/2019$1,160,041
INVITATION HOMES 2013-SFR1 TRUST 1.596% 12/17/2030$1,155,936
SHELL INTERNATIONAL FINANCE BV 1.375% 05/10/2019$1,154,479
NISSAN MOTOR ACCEPTANCE CORP 2% 03/08/2019$1,154,264
REGIONS FINANCIAL CORP 2% 05/15/2018$1,152,510
ASTORIA FINANCIAL CORP 5% 06/19/2017$1,148,349
DISH DBS CORP 4.625% 07/15/2017$1,142,400
CYPRESS SEMICONDUCTOR CORP 4.5% 01/15/2022$1,138,175
STRUCTURED ASSET INVESTMENT LOAN TRUST 2 1.133% 01/25/2033$1,134,568
FORD MOTOR CREDIT CO LLC 2.021% 05/03/2019$1,130,304
HEALTHWAYS INC 1.5% 07/01/2018$1,128,528
HEWLETT PACKARD ENTERPRISE CO 2.45% 10/05/2017$1,124,731
ALLIED IRISH BANKS PLC 2.875% 11/28/2016$1,121,321
HSBC USA INC 1.7% 03/05/2018$1,120,983
MYLAN NV 2.5% 06/07/2019$1,105,248
CNPC GENERAL CAPITAL LTD 1.526% 05/14/2017$1,099,957
PERRIGO CO PLC 1.3% 11/08/2016$1,098,934
ACTAVIS FUNDING SCS 1.3% 06/15/2017$1,098,382
KEYW HOLDING CORP/THE 2.5% 07/15/2019$1,095,188
ABBVIE INC 1.8% 05/14/2018$1,088,076
PRA GROUP INC 3% 08/01/2020$1,084,791
SHELL INTERNATIONAL FINANCE BV 1.25% 11/10/2017$1,083,174
BLACKSTONE MORTGAGE TRUST INC 5.25% 12/01/2018$1,079,706
NCUA GUARANTEED NOTES TRUST 2010-A1 .795% 12/07/2020$1,057,668
DEVON ENERGY CORP 1.193% 12/15/2016$1,053,489
SHELL INTERNATIONAL FINANCE BV 1.625% 11/10/2018$1,050,912
BERKSHIRE HATHAWAY FINANCE CORP 1.7% 03/15/2019$1,047,240
MITSUBISHI UFJ TRUST & BANKING CORP 1.6% 10/16/2017$1,043,802
DRIVE AUTO RECEIVABLES TRUST 2016-B 3.19% 07/15/2022$1,042,776
CANADIAN NATURAL RESOURCES LTD 1.75% 01/15/2018$1,041,198
INTERCEPT PHARMACEUTICALS INC 3.25% 07/01/2023$1,035,000
GLENCORE FUNDING LLC 1.988% 01/15/2019$1,032,775
STANLEY BLACK & DECKER INC 2.451% 11/17/2018$1,032,552
NRG YIELD INC 3.5% 02/01/2019$1,029,284
PENSKE TRUCK LEASING CO LP / PTL FINANCE 3.2% 07/15/2020$1,023,770
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 1.6% 11/20/2017$1,020,776
CALIFORNIA EARTHQUAKE AUTHORITY 1.824% 07/01/2017$1,008,970
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.453% 10/25/2023$1,004,469
JACKSON NATIONAL LIFE GLOBAL FUNDING 1.25% 02/21/2017$1,000,507
CHART INDUSTRIES INC 2% 08/01/2018$994,569
ENVESTNET INC 1.75% 12/15/2019$990,975
ATLAS AIR WORLDWIDE HOLDINGS INC 2.25% 06/01/2022$977,298
ASHLAND INC 3.875% 04/15/2018$962,325
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.903% 11/25/2023$951,076
WHITING PETROLEUM CORP 1.25% 04/01/2020$931,613
WELLS FARGO BANK NA 1.65% 01/22/2018$928,040
NATIONAL OILWELL VARCO INC 1.35% 12/01/2017$923,576
SUNTRUST BANK/ATLANTA GA 5.2% 01/17/2017$913,252
HYUNDAI CAPITAL AMERICA 2% 03/19/2018$906,021
VERIZON COMMUNICATIONS INC 2.183% 09/15/2016$902,337
BANCO SANTANDER CHILE 1.529% 04/11/2017$901,125
BANK OF AMERICA CORP 1.187% 05/02/2017$897,301
MIZUHO BANK LTD 1.7% 09/25/2017$893,318
INDUSTRIAL & COMMERCIAL BANK OF CHINA LT 2.351% 11/13/2017$888,563
FORD MOTOR CREDIT CO LLC 3% 06/12/2017$883,456
JPMORGAN CHASE & CO 1.146% 02/15/2017$881,040
BAXALTA INC 1.427% 06/22/2018$880,847
SBA COMMUNICATIONS CORP 5.625% 10/01/2019$880,813
VERIZON COMMUNICATIONS INC 2.406% 09/14/2018$871,488
CVS HEALTH CORP 1.9% 07/20/2018$868,370
CITIGROUP INC 2.326% 05/15/2018$865,065
EXPRESS SCRIPTS HOLDING CO 1.25% 06/02/2017$859,591
DAIMLER FINANCE NORTH AMERICA LLC 1.5% 07/05/2019$858,719
WANT WANT CHINA FINANCE LTD 1.875% 05/14/2018$848,807
FIFTH THIRD BANCORP 5.45% 01/15/2017$845,431
WESTERN DIGITAL CORP 10.5% 04/01/2024$841,913
PALO ALTO NETWORKS INC 0% 07/01/2019$812,403
CHEVRON CORP 1.79% 11/16/2018$810,986
MIZUHO BANK LTD 1.3% 04/16/2017$809,959
KEYBANK NA/CLEVELAND OH 2.35% 03/08/2019$807,233
BMW US CAPITAL LLC 1.5% 04/11/2019$806,057
GENERAL MILLS INC 1.4% 10/20/2017$804,661
SANTANDER UK PLC 1.166% 03/13/2017$800,030
PRUDENTIAL FINANCIAL INC 1.406% 08/15/2018$798,523
WEA FINANCE LLC / WESTFIELD UK & EUROPE 1.75% 09/15/2017$782,484
CAPITAL ONE FINANCIAL CORP 6.15% 09/01/2016$776,019
JOHN DEERE CAPITAL CORP 1.125% 06/12/2017$761,603
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.603% 05/25/2028$759,034
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 3.13% 10/08/2020$758,943
NCUA GUARANTEED NOTES TRUST 2010-R1 .913% 10/07/2020$753,572
CHEVRON CORP 1.344% 11/09/2017$753,334
WALGREENS BOOTS ALLIANCE INC 1.75% 05/30/2018$746,129
GENERAL MOTORS FINANCIAL CO INC 3% 09/25/2017$741,019
SPRINGLEAF MORTGAGE LOAN TRUST 2013-1 1.27% 06/25/2058$735,304
REYNOLDS AMERICAN INC 2.3% 06/12/2018$731,896
SANTANDER DRIVE AUTO RECEIVABLES TRUST 2 3.24% 04/15/2021$731,328
CITIGROUP INC 1.85% 11/24/2017$724,216
SANTANDER DRIVE AUTO RECEIVABLES TRUST 2 2.97% 03/15/2021$714,370
HESS CORP 1.3% 06/15/2017$705,414
ANHEUSER-BUSCH INBEV FINANCE INC 1.9% 02/01/2019$702,156
CISCO SYSTEMS INC 1.6% 02/28/2019$700,657
THOMSON REUTERS CORP 1.3% 02/23/2017$700,230
SANTANDER DRIVE AUTO RECEIVABLES TRUST 2 3.02% 04/15/2021$697,050
CELGENE CORP 2.125% 08/15/2018$690,519
HUNTINGTON NATIONAL BANK/THE 2.2% 11/06/2018$688,702
SEACOR HOLDINGS INC 2.5% 12/15/2027$687,750
NORDEA BANK AB 1.875% 09/17/2018$687,146
FIFTH THIRD BANK/CINCINNATI OH 2.3% 03/15/2019$683,446
MORGAN STANLEY 6.625% 04/01/2018$683,060
CHENIERE ENERGY INC 4.25% 03/15/2045$672,600
CAPITAL ONE NA/MCLEAN VA 1.65% 02/05/2018$670,811
WESTLAKE AUTOMOBILE RECEIVABLES TRUST 20 1.57% 06/17/2019$670,176
CALATLANTIC GROUP INC .25% 06/01/2019$670,050
SPIRIT REALTY CAPITAL INC 3.75% 05/15/2021$655,203
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2.21% 05/10/2021$646,231
SEQUOIA MORTGAGE TRUST 2013-1 1.45% 02/25/2043$638,121
ENBRIDGE INC 1.136% 06/02/2017$628,898
WESTLAKE AUTOMOBILE RECEIVABLES TRUST 20 4.1% 06/15/2021$625,771
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.403% 05/25/2024$625,065
JP MORGAN MORTGAGE TRUST 2013-1 2.5% 03/25/2043$624,692
RYDER SYSTEM INC 2.5% 03/01/2017$624,241
CAMERON INTERNATIONAL CORP 1.4% 06/15/2017$620,379
ELECTRICITE DE FRANCE SA 1.15% 01/20/2017$620,050
DUKE ENERGY CORP 1.009% 04/03/2017$619,642
GENERAL MOTORS FINANCIAL CO INC 2.4% 05/09/2019$612,117
JB HUNT TRANSPORT SERVICES INC 2.4% 03/15/2019$606,663
GATX CORP 2.5% 07/30/2019$606,558
BANK OF TOKYO-MITSUBISHI UFJ LTD/THE 1.2% 03/10/2017$600,583
CITIGROUP INC 2.05% 06/07/2019$594,481
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.045% 06/01/2041$591,148
PENSKE TRUCK LEASING CO LP / PTL FINANCE 3.75% 05/11/2017$580,898
EXXON MOBIL CORP 1.708% 03/01/2019$579,486
AES TIETE ENERGIA SA 3.673% 06/01/2019$577,000
NBCUNIVERSAL ENTERPRISE INC 1.313% 04/15/2018$572,581
DEUTSCHE BANK AG 2.85% 05/10/2019$570,786
DRIVE AUTO RECEIVABLES TRUST 2016-B 1.67% 07/15/2019$570,602
SHELL INTERNATIONAL FINANCE BV 1.21% 11/10/2018$570,420
CAPITAL ONE BANK USA NA 1.15% 11/21/2016$570,382
BAIDU INC 2.25% 11/28/2017$565,758
PACCAR FINANCIAL CORP 1.28% 12/06/2018$563,082
STRYKER CORP 2% 03/08/2019$559,464
VERIZON COMMUNICATIONS INC 1.426% 06/17/2019$542,968
FIFTH THIRD AUTO TRUST 2014-1 .68% 04/16/2018$539,807
HUTCHISON WHAMPOA INTERNATIONAL 12 II LT 2% 11/08/2017$536,044
CENTERPOINT ENERGY TRANSITION BOND CO IV .901% 04/15/2018$534,962
NEWELL BRANDS INC 2.6% 03/29/2019$533,966
PENSKE AUTOMOTIVE GROUP INC 5.5% 05/15/2026$533,400
SYNCHRONY FINANCIAL 1.867% 02/03/2020$533,071
PORSCHE FINANCIAL AUTO SECURITIZATION TR .67% 01/23/2018$519,751
COLONY AMERICAN HOMES 2014-1 1.596% 05/17/2031$517,268
GSAMP TRUST 2004-SEA2 1.103% 03/25/2034$514,839
AETNA INC 1.7% 06/07/2018$514,335
HERTZ CORP/THE 6.75% 04/15/2019$512,581
TSMC GLOBAL LTD 1.625% 04/03/2018$511,603
AMERICAN HOMES 4 RENT 2014-SFR1 1.446% 06/17/2031$505,369
DRIVE AUTO RECEIVABLES TRUST 2016-B 2.56% 06/15/2020$502,367
ALIBABA GROUP HOLDING LTD 1.625% 11/28/2017$501,552
CREDIT SUISSE AG/NEW YORK NY 1.75% 01/29/2018$500,531
EBAY INC 2.5% 03/09/2018$499,147
FREEPORT-MCMORAN INC 2.15% 03/01/2017$498,750
MURPHY OIL CORP 3.5% 12/01/2017$498,700
WALGREENS BOOTS ALLIANCE INC 1.75% 11/17/2017$493,661
SEQUOIA MORTGAGE TRUST 2012-1 2.865% 01/25/2042$492,615
AUTODESK INC 1.95% 12/15/2017$491,351
BAXALTA INC 2% 06/22/2018$490,485
NVIDIA CORP 1% 12/01/2018$490,350
COMMONWEALTH BANK OF AUSTRALIA/NEW YORK 2.05% 03/15/2019$486,888
AT&T INC 5.5% 02/01/2018$479,144
APOLLO COMMERCIAL REAL ESTATE FINANCE IN 5.5% 03/15/2019$478,382
KINDER MORGAN INC/DE 3.05% 12/01/2019$475,282
FIDELITY NATIONAL INFORMATION SERVICES I 2% 04/15/2018$472,544
OPTION ONE MORTGAGE LOAN TRUST 2005-4 AS .713% 11/25/2035$469,027
HYUNDAI CAPITAL AMERICA 2.125% 10/02/2017$468,039
QBE INSURANCE GROUP LTD 2.4% 05/01/2018$464,513
MERITOR INC 7.875% 03/01/2026$460,020
MACQUARIE BANK LTD 1.266% 10/27/2017$449,164
KINDER MORGAN INC/DE 2% 12/01/2017$447,747
PENSKE TRUCK LEASING CO LP / PTL FINANCE 2.5% 06/15/2019$445,099
BP CAPITAL MARKETS PLC 1.14% 05/10/2018$438,198
CC HOLDINGS GS V LLC / CROWN CASTLE GS I 2.381% 12/15/2017$435,734
TECO FINANCE INC 1.229% 04/10/2018$433,587
SUNTRUST BANK/ATLANTA GA 1.066% 02/15/2017$429,822
SPRINGLEAF MORTGAGE LOAN TRUST 2013-2 1.78% 12/25/2065$429,639
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2.87% 11/08/2021$428,683
LLOYDS BANK PLC 2.3% 11/27/2018$422,512
HUNTINGTON NATIONAL BANK/THE 1.3% 11/20/2016$420,510
WHIRLPOOL CORP 1.65% 11/01/2017$412,690
FORD MOTOR CREDIT CO LLC 1.486% 03/12/2019$408,443
ENBRIDGE INC 1.275% 10/01/2016$408,308
APPLE INC 1.7% 02/22/2019$406,928
KROGER CO/THE 2.2% 01/15/2017$402,526
HUNTINGTON NATIONAL BANK/THE 1.35% 08/02/2016$400,029
SYNCHRONY FINANCIAL 3% 08/15/2019$386,612
BANK OF AMERICA MORTGAGE 2002-K TRUST 3.019% 10/20/2032$385,262
THERMO FISHER SCIENTIFIC INC 2.15% 12/14/2018$384,544
CAPITAL AUTO RECEIVABLES ASSET TRUST / A 1.74% 10/22/2018$380,623
AMPHENOL CORP 1.55% 09/15/2017$380,230
KEYBANK NA/CLEVELAND OH 1.152% 11/25/2016$380,157
SANTANDER DRIVE AUTO RECEIVABLES TRUST 2 2.65% 08/17/2020$373,442
FORTIVE CORP 1.8% 06/15/2019$372,640
ANZ NEW ZEALAND INT'L LTD/LONDON 1.4% 04/27/2017$370,754
LA ARENA FUNDING LLC 7.656% 12/15/2026$367,289
BECTON DICKINSON AND CO 1.8% 12/15/2017$363,072
SOUTHERN POWER CO 1.85% 12/01/2017$362,966
BAT INTERNATIONAL FINANCE PLC 1.163% 06/15/2018$359,416
NELNET STUDENT LOAN TRUST 2014-2 .733% 06/25/2021$356,967
DOMINION RESOURCES INC/VA 2.962% 07/01/2019$356,566
ELECTRICITE DE FRANCE SA 1.094% 01/20/2017$350,396
SYSCO CORP 1.9% 04/01/2019$344,318
MEDTRONIC INC 1.5% 03/15/2018$343,037
NCUA GUARANTEED NOTES TRUST 2011-R4 .816% 03/06/2020$341,912
NATIONAL AUSTRALIA BANK LTD 1.3% 06/30/2017$340,550
CARNIVAL CORP 1.875% 12/15/2017$323,077
PACCAR FINANCIAL CORP 1.1% 06/06/2017$320,724
PHILLIPS 66 2.95% 05/01/2017$314,602
WM WRIGLEY JR CO 2% 10/20/2017$303,286
APPLE INC 1.3% 02/23/2018$302,112
JOHNSON CONTROLS INC 1.4% 11/02/2017$301,035
MCKESSON CORP 1.292% 03/10/2017$300,619
FIFTH THIRD BANK/CINCINNATI OH 1.136% 11/18/2016$300,237
KEYBANK NA/CLEVELAND OH 1.1% 11/25/2016$300,188
MIZUHO BANK LTD 1.09% 09/25/2017$299,513
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.503% 03/25/2025$290,026
FIDELITY NATIONAL INFORMATION SERVICES I 1.45% 06/05/2017$289,723
EXXON MOBIL CORP 1.439% 03/01/2018$282,546
CAPITAL AUTO RECEIVABLES ASSET TRUST / A 1.29% 04/20/2018$279,056
SANTANDER UK PLC 2.5% 03/14/2019$272,861
GREATAMERICA LEASING RECEIVABLES FUNDING 1.83% 06/17/2019$270,134
DIAMOND 1 FINANCE CORP / DIAMOND 2 FINAN 5.875% 06/15/2021$265,372
CITIZENS BANK NA/PROVIDENCE RI 2.3% 12/03/2018$263,551
WEA FINANCE LLC / WESTFIELD UK & EUROPE 2.7% 09/17/2019$255,189
LOCKHEED MARTIN CORP 1.85% 11/23/2018$254,553
UNITED STATES TREASURY NOTE/BOND 1.25% 12/15/2018$243,497
SYNCHRONY FINANCIAL 2.6% 01/15/2019$242,769
HERTZ FLEET LEASE FUNDING LP .995% 12/10/2027$235,711
VENTAS REALTY LP 1.25% 04/17/2017$230,108
AMERICAN EXPRESS CREDIT CORP 1.125% 06/05/2017$230,000
TRANSALTA CORP 1.9% 06/03/2017$223,166
CEMEX SAB DE CV 3.72% 03/15/2020$206,113
ALIBABA GROUP HOLDING LTD 2.5% 11/28/2019$202,658
COCA-COLA CO/THE .875% 10/27/2017$202,307
BRITISH TELECOMMUNICATIONS PLC 1.25% 02/14/2017$200,083
ZIMMER BIOMET HOLDINGS INC 2.7% 04/01/2020$182,343
CITIBANK CREDIT CARD ISSUANCE TRUST 1.11% 07/23/2018$170,050
ARAMARK SERVICES INC 5.75% 03/15/2020$166,961
SEQUOIA MORTGAGE TRUST 2012-2 3.5% 04/25/2042$140,887
WEBMD HEALTH CORP 2.5% 01/31/2018$137,969
ILLUMINA INC .5% 06/15/2021$135,506
FEDERAL HOME LOAN MORTGAGE CORP 2.754% 12/01/2039$120,973
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.833% 03/01/2036$93,557
CREDIT SUISSE FIRST BOSTON MORTGAGE SECU 5% 04/25/2019$20,181
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$23,673,957
OHIO HSG FIN VAR 03/37$625,000
 
Other
Holding NameMarket Value
USD$5,510,911
CURRENCY CONTRACT$39,562
USD$36,720
CURRENCY CONTRACT$30,809
CURRENCY CONTRACT$28,910
US 2YR NOTE (CBT) BOND SEP16 (TUU6) COMDTY$27,269
CURRENCY CONTRACT$26,160
CURRENCY CONTRACT$21,325
EURO$266
CURRENCY CONTRACT$-35,352
CURRENCY CONTRACT$-46,224
US 5YR NOTE (CBT) BOND SEP16 (FVU6) COMDTY$-86,945
RUSSELL 2000 MINI EQUITY INDEX SEP16 (RTAU6)$-953,151
All Holdings As of May 31, 2016
Equity
Holding NameMarket Value
SIMON PROPERTY GROUP INC$4,805,814
ALLERGAN PLC$3,775,630
AMERICAN TOWER CORP$3,559,057
PUBLIC STORAGE$2,939,991
EQUITY RESIDENTIAL$1,988,749
PROLOGIS INC$1,960,280
AVALONBAY COMMUNITIES INC$1,936,768
SOUTHWESTERN ENERGY CO$1,931,775
WELLTOWER INC$1,924,518
VENTAS INC$1,754,495
HESS CORP$1,734,396
BOSTON PROPERTIES INC$1,517,862
WPX ENERGY INC$1,348,350
VORNADO REALTY TRUST$1,332,313
TEVA PHARMACEUTICAL INDUSTRIES LTD$1,312,400
GENERAL GROWTH PROPERTIES INC$1,231,318
HCP INC$1,204,620
ESSEX PROPERTY TRUST INC$1,169,780
DIGITAL REALTY TRUST INC$1,096,625
ANTHEM INC$1,078,110
EXTRA SPACE STORAGE INC$915,662
KIMCO REALTY CORP$915,061
HOST HOTELS & RESORTS INC$910,463
FEDERAL REALTY INVESTMENT TRUST$840,554
FRONTIER COMMUNICATIONS CORP$826,728
MCDERMOTT INTERNATIONAL INC$817,568
SL GREEN REALTY CORP$796,791
MACERICH CO/THE$762,132
UDR INC$758,323
KINDER MORGAN INC/DE$694,944
DUKE REALTY CORP$643,185
CROWN CASTLE INTERNATIONAL CORP$630,168
MID-AMERICA APARTMENT COMMUNITIES INC$608,156
REGENCY CENTERS CORP$589,743
CAMDEN PROPERTY TRUST$582,751
ALEXANDRIA REAL ESTATE EQUITIES INC$557,175
APARTMENT INVESTMENT & MANAGEMENT CO$525,491
AMERICAN CAMPUS COMMUNITIES INC$480,497
EQUITY LIFESTYLE PROPERTIES INC$462,670
KILROY REALTY CORP$459,164
LIBERTY PROPERTY TRUST$431,158
CUBESMART$429,840
DDR CORP$412,420
BRIXMOR PROPERTY GROUP INC$406,853
SOVRAN SELF STORAGE INC$388,689
FOREST CITY REALTY TRUST INC$387,268
DOUGLAS EMMETT INC$372,790
HIGHWOODS PROPERTIES INC$369,767
SUN COMMUNITIES INC$350,826
SENIOR HOUSING PROPERTIES TRUST$347,299
WEINGARTEN REALTY INVESTORS$338,595
TAUBMAN CENTERS INC$327,010
HOSPITALITY PROPERTIES TRUST$307,558
DCT INDUSTRIAL TRUST INC$302,384
EQUITY COMMONWEALTH$286,011
AMERICAN HOMES 4 RENT$264,940
TANGER FACTORY OUTLET CENTERS$260,522
POST PROPERTIES INC$256,817
HEALTHCARE REALTY TRUST INC$254,225
DUPONT FABROS TECHNOLOGY INC$246,794
PIEDMONT OFFICE REALTY TRUST INC$230,976
FIRST INDUSTRIAL REALTY TRUST INC$225,316
APPLE HOSPITALITY REIT INC$225,232
ANADARKO PETROLEUM CORP$222,300
BRANDYWINE REALTY TRUST$217,902
EDUCATION REALTY TRUST INC$212,153
EQUITY ONE INC$211,434
RLJ LODGING TRUST$204,408
LASALLE HOTEL PROPERTIES$203,044
SUNSTONE HOTEL INVESTORS INC$203,031
CORPORATE OFFICE PROPERTIES TRUST$202,211
COLUMBIA PROPERTY TRUST INC$200,014
URBAN EDGE PROPERTIES$195,871
ACADIA REALTY TRUST$186,484
MACK-CALI REALTY CORP$186,199
KITE REALTY GROUP TRUST$173,983
CARE CAPITAL PROPERTIES INC$173,743
COUSINS PROPERTIES INC$169,692
WASHINGTON REAL ESTATE INVESTMENT TRUST$167,410
EASTGROUP PROPERTIES INC$164,429
RETAIL OPPORTUNITY INVESTMENTS CORP$158,869
PS BUSINESS PARKS INC$153,624
WP GLIMCHER INC$150,183
PEBBLEBROOK HOTEL TRUST$141,686
DIAMONDROCK HOSPITALITY CO$139,464
XENIA HOTELS & RESORTS INC$138,874
LTC PROPERTIES INC$135,151
MONOGRAM RESIDENTIAL TRUST INC$134,091
NEW YORK REIT INC$117,832
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST$114,425
CBL & ASSOCIATES PROPERTIES INC$114,286
PARKWAY PROPERTIES INC/MD$109,935
RAMCO-GERSHENSON PROPERTIES TRUST$109,861
REXFORD INDUSTRIAL REALTY INC$101,112
FRANKLIN STREET PROPERTIES CORP$78,204
FELCOR LODGING TRUST INC$66,761
HERSHA HOSPITALITY TRUST$65,121
TIER REIT INC$54,000
ROUSE PROPERTIES INC$52,925
UNIVERSAL HEALTH REALTY INCOME TRUST$50,290
SAUL CENTERS INC$49,326
SILVER BAY REALTY TRUST CORP$43,792
FIRST POTOMAC REALTY TRUST$40,579
CEDAR REALTY TRUST INC$38,703
NATIONAL STORAGE AFFILIATES TRUST$37,196
ASHFORD HOSPITALITY TRUST INC$33,198
NEXPOINT RESIDENTIAL TRUST INC$23,571
ASHFORD HOSPITALITY PRIME INC$20,980
 
Fixed Income
Holding NameMarket Value
UNITED STATES TREASURY NOTE/BOND 0.875 05/31/2018$25,116,980
UNITED STATES TREASURY NOTE/BOND 1% 02/15/2018$18,572,125
UNITED STATES TREASURY NOTE/BOND 1% 12/31/2017$18,048,510
UNITED STATES TREASURY NOTE/BOND 1% 08/15/2018$16,821,817
CITRIX SYSTEMS INC .5% 04/15/2019$10,579,297
UNITED STATES TREASURY NOTE/BOND .625% 05/31/2017$10,489,952
UNITED STATES TREASURY NOTE/BOND 1 03/15/2019$9,900,386
UNITED STATES TREASURY NOTE/BOND 1% 05/15/2018$9,020,916
DYCOM INDUSTRIES INC 0.75% 09/15/2021$8,000,813
MICROCHIP TECHNOLOGY INC 1.625% 02/15/2025$7,611,503
ELECTRONICS FOR IMAGING INC 0.75% 09/01/2019$7,264,338
PRICELINE GROUP INC/THE .35% 06/15/2020$7,263,675
JAZZ INVESTMENTS I LTD 1.875% 08/15/2021$7,192,493
CTRIP.COM INTERNATIONAL LTD 1% 07/01/2020$6,694,559
BIOMARIN PHARMACEUTICAL INC .75% 10/15/2018$6,638,681
NXP SEMICONDUCTORS NV 1% 12/01/2019$6,290,926
MEDIDATA SOLUTIONS INC 1% 08/01/2018$6,244,216
NUVASIVE INC 2.25 03/15/2021$6,069,916
UNITED STATES TREASURY NOTE/BOND .75% 02/28/2018$5,947,293
INTERDIGITAL INC/PA 1.5 03/01/2020$5,934,180
CARDTRONICS INC 1% 12/01/2020$5,932,545
STARWOOD PROPERTY TRUST INC 4.55% 03/01/2018$5,854,090
EXTRA SPACE STORAGE LP 3.125% 10/01/2035$5,489,358
FEDERAL HOME LOAN MORTGAGE CORP 1.125 03/16/2018$5,480,491
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1% 02/26/2019$5,208,380
INVITATION HOMES 2014-SFR1 TRUST 1.198% 06/17/2031$5,035,334
UNITED STATES TREASURY NOTE/BOND 1.125% 06/15/2018$5,023,635
BROOKDALE SENIOR LIVING INC 2.75% 06/15/2018$5,017,708
ALLSCRIPTS HEALTHCARE SOLUTIONS INC 1.25% 07/01/2020$4,969,625
RED HAT INC 0.25% 10/01/2019$4,872,000
RTI INTERNATIONAL METALS INC 1.625% 10/15/2019$4,722,953
HURON CONSULTING GROUP INC 1.25% 10/01/2019$4,690,547
PROOFPOINT INC .75% 06/15/2020$4,423,850
HERBALIFE LTD 2% 08/15/2019$4,402,563
ARES CAPITAL CORP 4.375% 01/15/2019$4,383,438
AKAMAI TECHNOLOGIES INC 0% 02/15/2019$4,055,164
MACQUARIE INFRASTRUCTURE CORP 2.875% 07/15/2019$3,916,375
FDIC GUARANTEED NOTES TRUST 2010-S1 3.25% 04/25/2038$3,799,958
LIBERTY MEDIA CORP 1.375% 10/15/2023$3,742,969
IMPAX LABORATORIES INC 2% 06/15/2022$3,700,730
J2 GLOBAL INC 3.25% 06/15/2029$3,675,825
TIVO INC 2% 10/01/2021$3,661,306
TESLA MOTORS INC .25% 03/01/2019$3,586,275
SPIRIT REALTY CAPITAL INC 2.875% 05/15/2019$3,580,080
COLONY AMERICAN HOMES 2015-1 1.398% 07/17/2032$3,447,858
TOLL BROTHERS FINANCE CORP .5% 09/15/2032$3,363,113
NEDERLANDSE WATERSCHAPSBANK NV 1.25% 09/18/2017$3,306,300
PORSCHE INNOVATIVE LEASE OWNER TRUST 201 1.19% 07/23/2018$3,293,884
VERINT SYSTEMS INC 1.5% 06/01/2021$3,290,400
EURONET WORLDWIDE INC 1.5% 10/01/2044$3,268,125
CREDIT SUISSE/NEW YORK NY 1.375% 05/26/2017$3,240,172
WORKDAY INC .75% 07/15/2018$3,153,563
LIVE NATION ENTERTAINMENT INC 2.5% 05/15/2019$3,144,881
ROVI CORP 0.5 03/01/2020$3,130,478
SYNCHRONOSS TECHNOLOGIES INC .75% 08/15/2019$3,129,570
INTEGRA LIFESCIENCES HOLDINGS CORP 1.625% 12/15/2016$3,117,400
INVITATION HOMES 2014-SFR2 TRUST 1.298% 09/17/2031$3,082,378
ILLUMINA INC 0% 06/15/2019$3,081,513
SHUTTERFLY INC 0.25 05/15/2018$3,055,150
WRIGHT MEDICAL GROUP INC 2% 02/15/2020$2,991,300
CARMAX AUTO OWNER TRUST 2015-2 1.37% 03/16/2020$2,989,280
WEB.COM GROUP INC 1% 08/15/2018$2,962,148
NEWMONT MINING CORP 1.625% 07/15/2017$2,921,931
GENERAL MOTORS FINANCIAL CO INC 2.4% 04/10/2018$2,911,594
ON SEMICONDUCTOR CORP 1% 12/01/2020$2,908,475
STANDARD CHARTERED PLC 1.5% 09/08/2017$2,882,826
KOMMUNINVEST I SVERIGE AB 1.5 04/23/2019$2,856,276
YAHOO! INC 0% 12/01/2018$2,824,697
FEDERAL HOME LOAN MORTGAGE CORP 1.125 04/15/2019$2,821,317
BECTON DICKINSON AND CO 1.45% 05/15/2017$2,817,826
UNITED STATES TREASURY NOTE/BOND 0.875% 11/30/2017$2,803,116
HEWLETT PACKARD ENTERPRISE CO 2.85% 10/05/2018$2,769,218
WRIGHT MEDICAL GROUP NV 2.25 11/15/2021$2,762,344
STILLWATER MINING CO 1.75 10/15/2032$2,744,528
CEPHEID 1.25% 02/01/2021$2,710,350
NUANCE COMMUNICATIONS INC 1% 12/15/2035$2,698,125
AMGEN INC 1.25% 05/22/2017$2,661,803
DIAMOND 1 FINANCE CORP / DIAMOND 2 FINANCE CORP 3.48 06/01/2019$2,645,773
INTEGRATED DEVICE TECHNOLOGY INC 0.875% 11/15/2022$2,640,984
MMAF EQUIPMENT FINANCE LLC 2015-A 1.39% 10/16/2019$2,632,916
SOUTHERN CALIFORNIA EDISON CO 1.845% 02/01/2022$2,620,953
HEALTHSOUTH CORP 2% 12/01/2043$2,590,800
UNITED STATES TREASURY NOTE/BOND .625% 09/30/2017$2,588,630
CHASE ISSUANCE TRUST 1.15% 01/15/2019$2,553,347
CEMEX SAB DE CV 3.72% 03/15/2020$2,525,578
ROYAL GOLD INC 2.875% 06/15/2019$2,506,744
UNITED STATES TREASURY NOTE/BOND .875% 01/15/2018$2,501,758
MOLINA HEALTHCARE INC 1.625% 08/15/2044$2,479,750
ROYAL BANK OF CANADA 1.625 04/15/2019$2,445,556
PRICELINE GROUP INC/THE 0.9% 09/15/2021$2,427,769
HILTON USA TRUST 2013-HLF 1.19% 11/05/2030$2,421,190
IRONWOOD PHARMACEUTICALS INC 2.25% 06/15/2022$2,395,434
JP MORGAN CHASE COMMERCIAL MORTGAGE SECU 1.438% 01/15/2032$2,382,108
INTERNATIONAL LEASE FINANCE CORP 3.875% 04/15/2018$2,360,600
WHITING PETROLEUM CORP 1.25 04/01/2020$2,352,375
LAM RESEARCH CORP 1.25% 05/15/2018$2,352,328
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 1.25% 05/23/2017$2,351,948
ECHO GLOBAL LOGISTICS INC 2.5% 05/01/2020$2,333,625
BANK NEDERLANDSE GEMEENTEN NV 1% 02/12/2018$2,315,882
NATIONAL HEALTH INVESTORS INC 3.25% 04/01/2021$2,309,850
UNITED STATES TREASURY NOTE/BOND 1% 09/15/2018$2,293,937
TRADE MAPS 1 LTD .892% 12/10/2018$2,290,576
CREDIT AGRICOLE SA/LONDON 1.089% 04/15/2019$2,285,489
SIEMENS FINANCIERINGSMAATSCHAPPIJ NV 1.65 08/16/2019$2,250,400
HOLOGIC INC 2% 03/01/2042$2,248,869
FEDERAL HOME LOAN MORTGAGE CORP 2.473% 09/01/2035$2,241,962
TTM TECHNOLOGIES INC 1.75% 12/15/2020$2,233,187
NUANCE COMMUNICATIONS INC 1.5% 11/01/2035$2,171,356
CAISSE D'AMORTISSEMENT DE LA DETTE SOCIA 1.25% 03/12/2018$2,159,704
BRANCH BANKING & TRUST CO 1.45 05/10/2019$2,121,395
WEBMD HEALTH CORP 2.625 06/15/2023$2,114,859
BROADSOFT INC 1% 09/01/2022$2,095,866
VECTOR GROUP LTD 5.5% 04/15/2020$2,084,400
EMPIRE STATE REALTY OP LP 2.625% 08/15/2019$2,084,329
TWITTER INC 0.25% 09/15/2019$2,063,506
INTEL CORP 2.95% 12/15/2035$2,063,163
ALLY FINANCIAL INC 3.25% 09/29/2017$2,062,575
SALESFORCE.COM INC .25% 04/01/2018$2,003,550
CHASE ISSUANCE TRUST .448% 04/15/2019$1,995,828
BP CAPITAL MARKETS PLC 1.674% 02/13/2018$1,986,324
SYNCHRONY CREDIT CARD MASTER NOTE TRUST 1.6% 04/15/2021$1,970,125
SERVICENOW INC 0% 11/01/2018$1,968,850
AT&T INC 2.3 03/11/2019$1,968,303
GLENCORE FINANCE CANADA LTD 2.7% 10/25/2017$1,966,788
BB&T CORP .96% 02/01/2019$1,947,465
BNZ INTERNATIONAL FUNDING LTD/LONDON 1.9% 02/26/2018$1,907,378
CITIZENS BANK NA/PROVIDENCE RI 1.6% 12/04/2017$1,891,205
CSMC TRUST 2013-IVR2 1.55% 04/25/2043$1,884,385
CAPITAL AUTO RECEIVABLES ASSET TRUST 201 1.39% 09/20/2018$1,882,328
INPHI CORP 1.125 12/01/2020$1,877,595
STMICROELECTRONICS NV 0 07/03/2019$1,877,000
ASIAN DEVELOPMENT BANK .75% 07/28/2017$1,876,516
TALEN ENERGY SUPPLY LLC 4.625% 07/15/2019$1,863,875
VIPSHOP HOLDINGS LTD 1.5% 03/15/2019$1,863,281
ENCORE CAPITAL GROUP INC 3% 07/01/2020$1,853,578
COLONY AMERICAN HOMES 2014-2 1.137% 07/17/2031$1,849,613
DISCOVER BANK/GREENWOOD DE 2.6% 11/13/2018$1,811,954
MACQUARIE BANK LTD 1.6% 10/27/2017$1,797,239
HOLOGIC INC 0% 12/15/2043$1,795,800
AUSTRALIA & NEW ZEALAND BANKING GROUP LTD/NEW YORK NY 2% 11/16/2018$1,785,734
DEPOMED INC 2.5% 09/01/2021$1,783,735
AES CORP/VA 3.283% 06/01/2019$1,777,775
WELLS FARGO BANK NA 1.75 05/24/2019$1,776,484
WESTPAC BANKING CORP 1.95% 11/23/2018$1,739,040
CHEVRON CORP 1.344% 11/09/2017$1,735,034
ACTAVIS FUNDING SCS 2.35% 03/12/2018$1,719,917
BANK OF AMERICA CORP 1.351% 03/22/2018$1,709,372
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.399% 07/25/2024$1,708,313
HORIZON PHARMA INVESTMENT LTD 2.5 03/15/2022$1,706,119
EUROPEAN INVESTMENT BANK 1.125% 08/15/2018$1,701,051
MANUFACTURERS & TRADERS TRUST CO 1.4% 07/25/2017$1,697,612
HSBC BANK PLC .961% 05/15/2018$1,685,368
KRAFT HEINZ FOODS CO 2% 07/02/2018$1,683,681
FORD MOTOR CREDIT CO LLC 1.684% 09/08/2017$1,672,487
PATTERN ENERGY GROUP INC 4% 07/15/2020$1,671,525
LIONS GATE ENTERTAINMENT CORP 5.25 08/01/2018$1,664,550
ANTHEM INC 2.375% 02/15/2017$1,658,255
BANK OF TOKYO-MITSUBISHI UFJ LTD/THE 1.45% 09/08/2017$1,658,174
UBS AG/STAMFORD CT 1.8% 03/26/2018$1,657,511
NEWELL RUBBERMAID INC 2.15% 10/15/2018$1,654,719
TWITTER INC 1% 09/15/2021$1,653,750
INSULET CORP 2% 06/15/2019$1,640,520
DAIMLER FINANCE NORTH AMERICA LLC 1.65% 03/02/2018$1,634,130
MORGAN STANLEY 1.435% 01/27/2020$1,632,869
CALATLANTIC GROUP INC 1.625% 05/15/2018$1,630,913
COLONY STARWOOD HOMES 3% 07/01/2019$1,625,325
ABBVIE INC 1.75% 11/06/2017$1,624,065
SUNTORY HOLDINGS LTD 1.65% 09/29/2017$1,621,978
AIRCASTLE LTD 6.75% 04/15/2017$1,608,938
ZIMMER BIOMET HOLDINGS INC 2% 04/01/2018$1,597,414
CSG SYSTEMS INTERNATIONAL INC 4.25 03/15/2036$1,566,266
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.141% 07/01/2041$1,564,498
CITIGROUP INC 1.55% 08/14/2017$1,561,440
SUNPOWER CORP 4% 01/15/2023$1,555,813
KNOWLES CORP 3.25 11/01/2021$1,551,225
NABORS INDUSTRIES INC 2.35% 09/15/2016$1,550,884
ABBEY NATIONAL TREASURY SERVICES PLC/LON 1.65% 09/29/2017$1,546,335
CAPITAL ONE NA/MCLEAN VA 1.5% 09/05/2017$1,515,787
WORKDAY INC 1.5 07/15/2020$1,509,281
PROVINCE OF BRITISH COLUMBIA CANADA 1.2% 04/25/2017$1,504,266
L-3 COMMUNICATIONS CORP 1.5% 05/28/2017$1,500,384
TENET HEALTHCARE CORP 6.25% 11/01/2018$1,500,250
AMTRUST FINANCIAL SERVICES INC 2.75% 12/15/2044$1,497,050
FIREEYE INC 1.625% 06/01/2035$1,484,241
CDW LLC TERM LOAN 3.25% 06/30/2016$1,470,279
ANHEUSER-BUSCH INBEV FINANCE INC 1.9% 02/01/2019$1,457,744
AP MOELLER - MAERSK A/S 2.55% 09/22/2019$1,456,808
SCORPIO TANKERS INC 2.375% 07/01/2019$1,455,363
DAIMLER FINANCE NORTH AMERICA LLC 1.375% 08/01/2017$1,449,207
MIZUHO BANK LTD 1.2431% 03/26/2018$1,444,345
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.149% 05/25/2024$1,440,433
CALATLANTIC GROUP INC 1.25% 08/01/2032$1,427,900
BROCADE COMMUNICATIONS SYSTEMS INC 1.375% 01/01/2020$1,418,938
MEDICINES CO/THE 2.5% 01/15/2022$1,417,914
AT&T INC 1.237% 11/27/2018$1,403,433
CIENA CORP 3.75 10/15/2018$1,401,475
KUBOTA CREDIT OWNER TRUST 2015-1 .94% 12/15/2017$1,386,502
THOMSON REUTERS CORP 1.65% 09/29/2017$1,383,039
ING BANK NV 2% 11/26/2018$1,371,803
ARAMARK CORP US TLE 3.25% 06/30/2016$1,358,383
INVITATION HOMES 2015-SFR3 TRUST 1.621% 08/17/2032$1,354,096
VERIZON COMMUNICATIONS INC 1.35% 06/09/2017$1,352,643
COLONY CAPITAL INC 5% 04/15/2023$1,349,678
TEVA PHARMACEUTICAL FINANCE CO LLC .25% 02/01/2026$1,348,100
FREDDIE MAC STRUCTURED AGENCY CREDIT RISK DEBT NOTES 1.696 10/25/2028$1,343,404
HYUNDAI CAPITAL AMERICA 1.45% 02/06/2017$1,339,875
FANNIE MAE CONNECTICUT AVENUE SECURITIES 2.585 09/25/2028$1,319,787
JPMORGAN CHASE & CO 1.195% 01/25/2018$1,306,959
FMS WERTMANAGEMENT AOER 1.125% 09/05/2017$1,302,352
MORGAN STANLEY 2.45% 02/01/2019$1,298,666
IMPERIAL TOBACCO FINANCE PLC 2.05% 07/20/2018$1,277,836
METROPOLITAN LIFE GLOBAL FUNDING I 1.95% 12/03/2018$1,269,926
AMERICAN EXPRESS CO .919% 05/22/2018$1,266,402
SEQUOIA MORTGAGE TRUST 2013-4 1.55% 04/25/2043$1,258,463
TOYOTA MOTOR CREDIT CORP 1.125% 05/16/2017$1,252,448
GOLDMAN SACHS GROUP INC/THE 1.42% 11/15/2018$1,247,719
SYNCHRONY FINANCIAL 1.875% 08/15/2017$1,244,671
BANK OF AMERICA CORP 1.7% 08/25/2017$1,241,980
MORGAN STANLEY 1.034% 07/23/2019$1,241,554
JOHN DEERE CAPITAL CORP 1.4% 03/15/2017$1,238,552
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.799% 01/25/2024$1,238,355
CNH INDUSTRIAL CAPITAL LLC 3.875% 07/16/2018$1,226,100
CIT GROUP INC 5.25% 03/15/2018$1,216,125
CITIGROUP INC 2.05% 12/07/2018$1,215,917
COMPASS BANK 1.85% 09/29/2017$1,215,232
ACTAVIS FUNDING SCS 1.543% 03/12/2020$1,211,279
AMERIGAS PARTNERS LP / AMERIGAS FINANCE 6.25% 08/20/2019$1,203,600
SUNTRUST BANK/ATLANTA GA 1.35% 02/15/2017$1,201,264
TIAA ASSET MANAGEMENT FINANCE CO LLC 2.95% 11/01/2019$1,200,110
SANTANDER BANK NA 2% 01/12/2018$1,197,352
COMMONWEALTH BANK OF AUSTRALIA/NEW YORK NY 1.75% 11/02/2018$1,192,829
BANK OF NEW YORK MELLON CORP/THE .86% 08/01/2018$1,190,629
SPECTRANETICS CORP/THE 2.625 06/01/2034$1,187,191
SANTANDER DRIVE AUTO RECEIVABLES TRUST 2016-2 2.66 11/15/2021$1,174,277
PNC BANK NA 1.95 03/04/2019$1,160,605
INVITATION HOMES 2013-SFR1 TRUST 1.4% 12/17/2030$1,153,946
ING BANK NV 2.3 03/22/2019$1,152,908
ASTORIA FINANCIAL CORP 5% 06/19/2017$1,151,232
REGIONS FINANCIAL CORP 2% 05/15/2018$1,150,431
DISH DBS CORP 4.625% 07/15/2017$1,149,400
STRUCTURED ASSET INVESTMENT LOAN TRUST 2 .879% 01/25/2033$1,146,347
NISSAN MOTOR ACCEPTANCE CORP 2 03/08/2019$1,145,779
HEALTHWAYS INC 1.5% 07/01/2018$1,145,706
SHELL INTERNATIONAL FINANCE BV 1.375 05/10/2019$1,143,254
ALLIED IRISH BANKS PLC 2.875% 11/28/2016$1,126,875
HSBC USA INC 1.7% 03/05/2018$1,120,834
DEUTSCHE BANK AG 2.85 05/10/2019$1,120,233
HEWLETT PACKARD ENTERPRISE CO 2.45% 10/05/2017$1,120,221
FORD MOTOR CREDIT CO LLC 2.021 05/03/2019$1,117,394
PROOFPOINT INC 1.25% 12/15/2018$1,112,578
PRA GROUP INC 3% 08/01/2020$1,103,807
CNPC GENERAL CAPITAL LTD 1.209% 05/14/2017$1,098,598
PERRIGO CO PLC 1.3% 11/08/2016$1,097,457
ACTAVIS FUNDING SCS 1.3% 06/15/2017$1,096,920
BLACKSTONE MORTGAGE TRUST INC 5.25% 12/01/2018$1,086,684
ABBVIE INC 1.8% 05/14/2018$1,082,657
SHELL INTERNATIONAL FINANCE BV 1.25% 11/10/2017$1,079,864
NCUA GUARANTEED NOTES TRUST 2010-A1 .543% 12/07/2020$1,060,125
DEVON ENERGY CORP .826% 12/15/2016$1,053,683
KEYW HOLDING CORP/THE 2.5% 07/15/2019$1,050,938
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.199% 10/25/2023$1,048,597
SHELL INTERNATIONAL FINANCE BV 1.625% 11/10/2018$1,042,852
BERKSHIRE HATHAWAY FINANCE CORP 1.7 03/15/2019$1,040,335
MITSUBISHI UFJ TRUST & BANKING CORP 1.6% 10/16/2017$1,039,669
DRIVE AUTO RECEIVABLES TRUST 2016-B 3.19 07/15/2022$1,039,411
CANADIAN NATURAL RESOURCES LTD 1.75% 01/15/2018$1,031,896
STANLEY BLACK & DECKER INC 2.451% 11/17/2018$1,029,433
GLENCORE FUNDING LLC 1.649% 01/15/2019$1,024,600
NRG YIELD INC 3.5% 02/01/2019$1,020,713
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 1.6% 11/20/2017$1,014,632
PENSKE TRUCK LEASING CO LP / PTL FINANCE 3.2% 07/15/2020$1,012,776
CALIFORNIA EARTHQUAKE AUTHORITY 1.824% 07/01/2017$1,007,650
JACKSON NATIONAL LIFE GLOBAL FUNDING 1.25% 02/21/2017$1,000,787
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.649% 11/25/2023$999,160
SEACOR HOLDINGS INC 2.5% 12/15/2027$995,969
ENVESTNET INC 1.75% 12/15/2019$995,081
SEACOR HOLDINGS INC 3 11/15/2028$991,500
CHART INDUSTRIES INC 2% 08/01/2018$981,282
ASHLAND INC 3.875% 04/15/2018$967,025
WELLS FARGO BANK NA 1.65% 01/22/2018$925,660
NATIONAL OILWELL VARCO INC 1.35% 12/01/2017$919,497
SUNTRUST BANK/ATLANTA GA 5.2% 01/17/2017$915,479
VENTAS REALTY LP 1.55% 09/26/2016$906,965
VERIZON COMMUNICATIONS INC 1.816% 09/15/2016$903,553
HYUNDAI CAPITAL AMERICA 2% 03/19/2018$901,712
BANCO SANTANDER CHILE 1.186% 04/11/2017$900,000
ALIBABA GROUP HOLDING LTD 1.625% 11/28/2017$898,611
BANK OF AMERICA CORP .85% 05/02/2017$895,818
MIZUHO BANK LTD 1.7% 09/25/2017$891,365
INDUSTRIAL & COMMERCIAL BANK OF CHINA LT 2.351% 11/13/2017$885,709
SBA COMMUNICATIONS CORP 5.625% 10/01/2019$884,000
FORD MOTOR CREDIT CO LLC 3% 06/12/2017$882,411
JPMORGAN CHASE & CO .84% 02/15/2017$880,612
BAXALTA INC 1.061% 06/22/2018$880,138
VERIZON COMMUNICATIONS INC 2.036% 09/14/2018$874,180
CITIGROUP INC 2.021% 05/15/2018$864,600
CVS HEALTH CORP 1.9% 07/20/2018$863,653
EXPRESS SCRIPTS HOLDING CO 1.25% 06/02/2017$858,841
PALO ALTO NETWORKS INC 0% 07/01/2019$848,122
FIFTH THIRD BANCORP 5.45% 01/15/2017$847,452
WANT WANT CHINA FINANCE LTD 1.875% 05/14/2018$844,848
WESTERN DIGITAL CORP 10.5 04/01/2024$814,438
MOBILE MINI INC 7.875% 12/01/2020$811,214
MIZUHO BANK LTD 1.3% 04/16/2017$809,037
CHEVRON CORP 1.79% 11/16/2018$806,834
GENERAL MILLS INC 1.4% 10/20/2017$803,200
ABBEY NATIONAL TREASURY SERVICES PLC/LON .796% 03/13/2017$800,021
BMW US CAPITAL LLC 1.5 04/11/2019$799,725
KEYBANK NA/CLEVELAND OH 2.35 03/08/2019$799,522
PRUDENTIAL FINANCIAL INC 1.1% 08/15/2018$798,462
SPRINGLEAF MORTGAGE LOAN TRUST 2013-1 1.27% 06/25/2058$782,472
WEA FINANCE LLC / WESTFIELD UK & EUROPE 1.75% 09/15/2017$779,846
CAPITAL ONE FINANCIAL CORP 6.15% 09/01/2016$779,537
NCUA GUARANTEED NOTES TRUST 2010-R1 .641% 10/07/2020$768,305
FREDDIE MAC STRUCTURED AGENCY CREDIT RISK DEBT NOTES 1.5716% 05/25/2028$765,514
JOHN DEERE CAPITAL CORP 1.125% 06/12/2017$761,328
PORSCHE FINANCIAL AUTO SECURITIZATION TR .67% 01/23/2018$758,432
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2014-3 3.13 10/08/2020$756,768
ARAMARK SERVICES INC 5.75% 03/15/2020$743,400
WALGREENS BOOTS ALLIANCE INC 1.75 05/30/2018$741,300
GENERAL MOTORS FINANCIAL CO INC 3% 09/25/2017$739,949
CALAMP CORP 1.625 05/15/2020$736,574
REYNOLDS AMERICAN INC 2.3% 06/12/2018$731,043
SANTANDER DRIVE AUTO RECEIVABLES TRUST 2015-1 3.24 04/15/2021$730,131
CITIGROUP INC 1.85% 11/24/2017$722,200
WEBMD HEALTH CORP 2.5% 01/31/2018$718,656
LINKEDIN CORP 0.5% 11/01/2019$713,925
SANTANDER DRIVE AUTO RECEIVABLES TRUST 2015-4 2.97 03/15/2021$712,256
HESS CORP 1.3% 06/15/2017$706,138
THOMSON REUTERS CORP 1.3% 02/23/2017$700,356
CISCO SYSTEMS INC 1.6% 02/28/2019$696,865
SANTANDER DRIVE AUTO RECEIVABLES TRUST 2015-2 3.02 04/15/2021$689,636
CELGENE CORP 2.125% 08/15/2018$687,372
HUNTINGTON NATIONAL BANK/THE 2.2% 11/06/2018$686,198
MORGAN STANLEY 6.625% 04/01/2018$684,753
NORDEA BANK AB 1.875% 09/17/2018$682,906
FIFTH THIRD BANK/CINCINNATI OH 2.3 03/15/2019$678,121
SEQUOIA MORTGAGE TRUST 2013-1 1.45% 02/25/2043$677,585
CHENIERE ENERGY INC 4.25% 03/15/2045$673,338
CAPITAL ONE NA/MCLEAN VA 1.65% 02/05/2018$668,858
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.149% 05/25/2024$664,284
JP MORGAN MORTGAGE TRUST 2013-1 2.5% 03/25/2043$643,982
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2016-2 2.21 05/10/2021$640,057
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.004% 06/01/2041$639,137
ATLAS AIR WORLDWIDE HOLDINGS INC 2.25 06/01/2022$638,280
FIFTH THIRD AUTO TRUST 2014-1 .68% 04/16/2018$636,808
SPIRIT REALTY CAPITAL INC 3.75% 05/15/2021$632,169
ENBRIDGE INC .734% 06/02/2017$627,802
RYDER SYSTEM INC 2.5% 03/01/2017$625,149
ELECTRICITE DE FRANCE SA 1.15% 01/20/2017$620,058
DUKE ENERGY CORP .664% 04/03/2017$619,303
CAMERON INTERNATIONAL CORP 1.4% 06/15/2017$617,890
EXXON MOBIL CORP 1.439 03/01/2018$614,423
GENERAL MOTORS FINANCIAL CO INC 2.4 05/09/2019$610,013
CATERPILLAR FINANCIAL SERVICES CORP 1.25% 08/18/2017$601,288
BANK OF TOKYO-MITSUBISHI UFJ LTD/THE 1.2% 03/10/2017$599,804
JB HUNT TRANSPORT SERVICES INC 2.4% 03/15/2019$599,176
GATX CORP 2.5% 07/30/2019$597,267
PENSKE TRUCK LEASING CO LP / PTL FINANCE 3.75% 05/11/2017$581,590
EXXON MOBIL CORP 1.708 03/01/2019$574,610
NBCUNIVERSAL ENTERPRISE INC .974% 04/15/2018$571,416
CAPITAL ONE BANK USA NA 1.15% 11/21/2016$570,238
DRIVE AUTO RECEIVABLES TRUST 2016-B 1.67 07/15/2019$569,884
SHELL INTERNATIONAL FINANCE BV 0.9214% 11/10/2018$568,204
MIZUHO FINANCIAL GROUP INC 2.632 04/12/2021$563,201
BAIDU INC 2.25% 11/28/2017$563,101
PACCAR FINANCIAL CORP .879% 12/06/2018$561,853
PENSKE AUTOMOTIVE GROUP INC 5.5 05/15/2026$557,200
STRYKER CORP 2 03/08/2019$555,592
QUALCOMM INC 1.4% 05/18/2018$547,618
VERIZON COMMUNICATIONS INC 1.053% 06/17/2019$542,086
CENTERPOINT ENERGY TRANSITION BOND CO IV .901% 04/15/2018$534,726
HUTCHISON WHAMPOA INTERNATIONAL 12 II LT 2% 11/08/2017$534,061
SYNCHRONY FINANCIAL 1.53% 02/03/2020$532,669
GSAMP TRUST 2004-SEA2 .849% 03/25/2034$531,070
NEWELL RUBBERMAID INC 2.6 03/29/2019$529,670
SEQUOIA MORTGAGE TRUST 2012-1 2.865% 01/25/2042$524,936
COLONY AMERICAN HOMES 2014-1 1.4% 05/17/2031$519,297
HERTZ CORP/THE 6.75% 04/15/2019$509,716
TSMC GLOBAL LTD 1.625% 04/03/2018$508,740
AMERICAN HOMES 4 RENT 2014-SFR1 1.25% 06/17/2031$505,147
CREDIT SUISSE/NEW YORK NY 1.75% 01/29/2018$501,417
DRIVE AUTO RECEIVABLES TRUST 2016-B 2.56 06/15/2020$499,901
EBAY INC 2.5 03/09/2018$497,914
MURPHY OIL CORP 2.5% 12/01/2017$497,511
FREEPORT-MCMORAN INC 2.15% 03/01/2017$497,500
WALGREENS BOOTS ALLIANCE INC 1.75% 11/17/2017$492,329
AUTODESK INC 1.95% 12/15/2017$490,288
NVIDIA CORP 1% 12/01/2018$489,169
BAXALTA INC 2% 06/22/2018$487,735
COMMONWEALTH BANK OF AUSTRALIA/NEW YORK NY 2.05 03/15/2019$483,749
OPTION ONE MORTGAGE LOAN TRUST 2005-4 AS .459% 11/25/2035$483,738
APOLLO COMMERCIAL REAL ESTATE FINANCE INC 5.5% 03/15/2019$480,141
AT&T INC 5.5% 02/01/2018$479,111
MERITOR INC 7.875% 03/01/2026$476,267
FIDELITY NATIONAL INFORMATION SERVICES I 2% 04/15/2018$470,752
KINDER MORGAN INC/DE 3.05% 12/01/2019$468,925
HYUNDAI CAPITAL AMERICA 2.125% 10/02/2017$467,437
QBE INSURANCE GROUP LTD 2.4% 05/01/2018$462,923
CATERPILLAR FINANCIAL SERVICES CORP 1% 03/03/2017$450,271
MACQUARIE BANK LTD .925% 10/27/2017$449,202
SPRINGLEAF MORTGAGE LOAN TRUST 2013-2 1.78% 12/25/2065$448,192
KINDER MORGAN INC/DE 2% 12/01/2017$445,034
PENSKE TRUCK LEASING CO LP / PTL FINANCE 2.5% 06/15/2019$438,171
BP CAPITAL MARKETS PLC .821% 05/10/2018$436,298
CC HOLDINGS GS V LLC / CROWN CASTLE GS I 2.381% 12/15/2017$434,442
TECO FINANCE INC .883% 04/10/2018$432,921
BRITISH TELECOMMUNICATIONS PLC 1.625% 06/28/2016$430,257
SUNTRUST BANK/ATLANTA GA .761% 02/15/2017$429,950
ABBEY NATIONAL TREASURY SERVICES PLC/UNITED KINGDOM 2.5 03/14/2019$427,186
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2016-2 2.87 11/08/2021$425,947
LLOYDS BANK PLC 2.3% 11/27/2018$424,179
HUNTINGTON NATIONAL BANK/THE 1.3% 11/20/2016$420,449
WHIRLPOOL CORP 1.65% 11/01/2017$411,903
FORD MOTOR CREDIT CO LLC 1.118% 03/12/2019$407,957
ENBRIDGE INC .934% 10/01/2016$407,708
APPLE INC 1.7% 02/22/2019$403,984
KROGER CO/THE 2.2% 01/15/2017$402,742
HUNTINGTON NATIONAL BANK/THE 1.35% 08/02/2016$400,081
NELNET STUDENT LOAN TRUST 2014-2 .479% 06/25/2021$395,739
BANK OF AMERICA MORTGAGE 2002-K TRUST 2.71% 10/20/2032$387,381
SYNCHRONY FINANCIAL 3% 08/15/2019$384,602
WEBMD HEALTH CORP 1.5% 12/01/2020$383,969
THERMO FISHER SCIENTIFIC INC 2.15% 12/14/2018$383,143
KEYBANK NA/CLEVELAND OH .819% 11/25/2016$380,458
CAPITAL AUTO RECEIVABLES ASSET TRUST / A 1.74% 10/22/2018$380,239
AMPHENOL CORP 1.55% 09/15/2017$379,277
SANTANDER DRIVE AUTO RECEIVABLES TRUST 2014-3 2.65 08/17/2020$372,674
ANZ NEW ZEALAND INT'L LTD/LONDON 1.4% 04/27/2017$370,474
CAPITAL AUTO RECEIVABLES ASSET TRUST / A 1.29% 04/20/2018$369,803
LA ARENA FUNDING LLC 7.656% 12/15/2026$365,303
SOUTHERN POWER CO 1.85% 12/01/2017$362,195
BECTON DICKINSON AND CO 1.8% 12/15/2017$361,642
NCUA GUARANTEED NOTES TRUST 2011-R4 .571% 03/06/2020$360,501
JOHN DEERE CAPITAL CORP .576% 10/11/2016$360,396
BAT INTERNATIONAL FINANCE PLC .796% 06/15/2018$359,493
DOMINION RESOURCES INC/VA 2.962 07/01/2019$352,578
RYLAND GROUP INC/THE .25% 06/01/2019$351,025
ELECTRICITE DE FRANCE SA .747% 01/20/2017$349,762
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.249% 03/25/2025$347,018
MEDTRONIC INC 1.5% 03/15/2018$342,334
SYSCO CORP 1.9 04/01/2019$341,698
NATIONAL AUSTRALIA BANK LTD 1.3% 06/30/2017$340,037
CARNIVAL CORP 1.875% 12/15/2017$322,121
PACCAR FINANCIAL CORP 1.1% 06/06/2017$320,240
PHILLIPS 66 2.95% 05/01/2017$315,022
WM WRIGLEY JR CO 2% 10/20/2017$302,754
APPLE INC 1.3% 02/23/2018$301,383
TESLA MOTORS INC 1.25% 03/01/2021$300,625
FIFTH THIRD BANK/CINCINNATI OH .834% 11/18/2016$300,329
MCKESSON CORP 1.292% 03/10/2017$300,257
KEYBANK NA/CLEVELAND OH 1.1% 11/25/2016$300,229
JOHNSON CONTROLS INC 1.4% 11/02/2017$299,697
MIZUHO BANK LTD .731% 09/25/2017$299,459
UNITED STATES TREASURY NOTE/BOND .625% 11/30/2017$299,180
FIDELITY NATIONAL INFORMATION SERVICES I 1.45% 06/05/2017$288,656
GREATAMERICA LEASING RECEIVABLES FUNDING 1.83% 06/17/2019$270,119
HERTZ FLEET LEASE FUNDING LP .741% 12/10/2027$263,037
CITIZENS BANK NA/PROVIDENCE RI 2.3% 12/03/2018$261,499
LOCKHEED MARTIN CORP 1.85% 11/23/2018$253,441
WEA FINANCE LLC / WESTFIELD UK & EUROPE 2.7% 09/17/2019$253,041
SYNCHRONY FINANCIAL 2.6% 01/15/2019$241,801
UNITED STATES TREASURY NOTE/BOND 1.25% 12/15/2018$241,748
AMERICAN EXPRESS CREDIT CORP 1.125% 06/05/2017$229,770
VENTAS REALTY LP 1.25% 04/17/2017$229,741
TRANSALTA CORP 1.9% 06/03/2017$221,695
COCA-COLA CO/THE 0.875% 10/27/2017$201,789
ALIBABA GROUP HOLDING LTD 2.5% 11/28/2019$200,562
BRITISH TELECOMMUNICATIONS PLC 1.25% 02/14/2017$200,038
ZIMMER BIOMET HOLDINGS INC 2.7% 04/01/2020$182,574
CITIBANK CREDIT CARD ISSUANCE TRUST 1.11% 07/23/2018$170,093
SEQUOIA MORTGAGE TRUST 2012-2 3.5% 04/25/2042$150,909
SUNPOWER CORP .875% 06/01/2021$138,519
FEDERAL HOME LOAN MORTGAGE CORP 2.533% 12/01/2039$121,202
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.375% 03/01/2036$96,283
CREDIT SUISSE FIRST BOSTON MORTGAGE SECU 5% 04/25/2019$20,908
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$27,957,549
UNITED STATES ZERO 06/16$4,999,980
OHIO HSG FIN VAR 03/37$1,440,000
 
Other
Holding NameMarket Value
RUSSELL 2000 MINI EQUITY INDEX JUN16 (RTAM6)$21,025,990
CURRENCY CONTRACT$38,194
CURRENCY CONTRACT$34,200
CURRENCY CONTRACT$26,633
CURRENCY CONTRACT$26,154
CURRENCY CONTRACT$19,293
EURO$266
US 2YR NOTE (CBT) BOND SEP16 (TUU6) COMDTY$253
US 5YR NOTE (CBT) BOND SEP16 (FVU6) COMDTY$-3,023
CURRENCY CONTRACT$-29,143
CURRENCY CONTRACT$-38,106
USD$-2,487,670
USD$-17,438,760
All Holdings As of Apr 30, 2016
Equity
Holding NameMarket Value
SIMON PROPERTY GROUP INC$4,896,679
AMERICAN TOWER CORP$3,494,016
PUBLIC STORAGE$2,836,858
ALLERGAN PLC$2,752,574
TEVA PHARMACEUTICAL INDUSTRIES LTD$2,382,244
HESS CORP$2,098,152
WPX ENERGY INC$2,046,791
EQUITY RESIDENTIAL$1,955,991
WELLTOWER INC$1,938,762
AVALONBAY COMMUNITIES INC$1,903,498
PROLOGIS INC$1,872,845
ANTHEM INC$1,719,585
VENTAS INC$1,643,136
BOSTON PROPERTIES INC$1,556,887
SOUTHWESTERN ENERGY CO$1,407,036
VORNADO REALTY TRUST$1,335,242
KINDER MORGAN INC/DE$1,320,384
GENERAL GROWTH PROPERTIES INC$1,284,475
HCP INC$1,239,802
ESSEX PROPERTY TRUST INC$1,134,877
DIGITAL REALTY TRUST INC$1,010,802
HOST HOTELS & RESORTS INC$935,294
KIMCO REALTY CORP$913,113
CROWN CASTLE INTERNATIONAL CORP$900,172
FRONTIER COMMUNICATIONS CORP$876,120
EXTRA SPACE STORAGE INC$836,673
FEDERAL REALTY INVESTMENT TRUST$834,463
SL GREEN REALTY CORP$826,034
MCDERMOTT INTERNATIONAL INC$779,056
MACERICH CO/THE$759,735
UDR INC$734,961
DUKE REALTY CORP$594,274
REGENCY CENTERS CORP$567,416
MID-AMERICA APARTMENT COMMUNITIES INC$565,168
CAMDEN PROPERTY TRUST$552,112
ALEXANDRIA REAL ESTATE EQUITIES INC$534,463
APARTMENT INVESTMENT & MANAGEMENT CO$493,579
KILROY REALTY CORP$471,234
AMERICAN CAMPUS COMMUNITIES INC$457,300
EQUITY LIFESTYLE PROPERTIES INC$432,309
DDR CORP$419,370
LIBERTY PROPERTY TRUST$403,200
CUBESMART$399,735
DOUGLAS EMMETT INC$356,950
HIGHWOODS PROPERTIES INC$355,101
FOREST CITY REALTY TRUST INC$352,803
SUN COMMUNITIES INC$340,979
BRIXMOR PROPERTY GROUP INC$338,678
WEINGARTEN REALTY INVESTORS$332,206
TAUBMAN CENTERS INC$331,207
SOVRAN SELF STORAGE INC$328,220
SENIOR HOUSING PROPERTIES TRUST$326,847
HOSPITALITY PROPERTIES TRUST$307,438
DCT INDUSTRIAL TRUST INC$283,034
EQUITY COMMONWEALTH$276,309
TANGER FACTORY OUTLET CENTERS$259,487
POST PROPERTIES INC$243,206
HEALTHCARE REALTY TRUST INC$242,149
APPLE HOSPITALITY REIT INC$233,880
DUPONT FABROS TECHNOLOGY INC$232,270
PIEDMONT OFFICE REALTY TRUST INC$229,363
AMERICAN HOMES 4 RENT$228,536
COLUMBIA PROPERTY TRUST INC$216,310
SUNSTONE HOTEL INVESTORS INC$216,015
RLJ LODGING TRUST$210,194
LASALLE HOTEL PROPERTIES$209,985
FIRST INDUSTRIAL REALTY TRUST INC$208,754
BRANDYWINE REALTY TRUST$206,310
EQUITY ONE INC$203,109
EDUCATION REALTY TRUST INC$197,180
CORPORATE OFFICE PROPERTIES TRUST$192,112
URBAN EDGE PROPERTIES$189,232
ACADIA REALTY TRUST$185,384
MACK-CALI REALTY CORP$181,374
CARE CAPITAL PROPERTIES INC$178,289
KITE REALTY GROUP TRUST$176,314
COUSINS PROPERTIES INC$163,530
PEBBLEBROOK HOTEL TRUST$155,282
RETAIL OPPORTUNITY INVESTMENTS CORP$154,547
WP GLIMCHER INC$154,151
EASTGROUP PROPERTIES INC$153,438
WASHINGTON REAL ESTATE INVESTMENT TRUST$151,951
PS BUSINESS PARKS INC$149,003
LTC PROPERTIES INC$140,376
DIAMONDROCK HOSPITALITY CO$138,996
CBL & ASSOCIATES PROPERTIES INC$138,758
MONOGRAM RESIDENTIAL TRUST INC$133,959
XENIA HOTELS & RESORTS INC$132,499
NEW YORK REIT INC$126,866
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST$124,404
RAMCO-GERSHENSON PROPERTIES TRUST$108,031
PARKWAY PROPERTIES INC/MD$103,635
REXFORD INDUSTRIAL REALTY INC$95,370
FRANKLIN STREET PROPERTIES CORP$72,789
FELCOR LODGING TRUST INC$72,316
HERSHA HOSPITALITY TRUST$70,891
TIER REIT INC$54,288
ROUSE PROPERTIES INC$53,563
UNIVERSAL HEALTH REALTY INCOME TRUST$51,324
SAUL CENTERS INC$46,692
SILVER BAY REALTY TRUST CORP$40,880
CEDAR REALTY TRUST INC$39,444
FIRST POTOMAC REALTY TRUST$38,131
ASHFORD HOSPITALITY TRUST INC$36,894
NATIONAL STORAGE AFFILIATES TRUST$34,824
NEXPOINT RESIDENTIAL TRUST INC$23,438
ASHFORD HOSPITALITY PRIME INC$21,697
 
Fixed Income
Holding NameMarket Value
UNITED STATES TREASURY NOTE/BOND 1% 08/15/2018$18,866,325
UNITED STATES TREASURY NOTE/BOND 1% 02/15/2018$18,606,858
UNITED STATES TREASURY NOTE/BOND .75% 02/28/2018$18,506,556
UNITED STATES TREASURY NOTE/BOND 1% 12/31/2017$18,079,452
UNITED STATES TREASURY NOTE/BOND .625% 05/31/2017$14,000,000
UNITED STATES TREASURY NOTE/BOND 1 03/15/2019$10,928,100
CITRIX SYSTEMS INC .5% 04/15/2019$10,164,000
UNITED STATES TREASURY NOTE/BOND .625% 09/30/2017$9,586,689
UNITED STATES TREASURY NOTE/BOND 1% 05/15/2018$9,037,269
JAZZ INVESTMENTS I LTD 1.875% 08/15/2021$7,691,753
UNITED STATES TREASURY NOTE/BOND 1.125% 06/15/2018$7,048,398
DYCOM INDUSTRIES INC 0.75% 09/15/2021$6,902,263
ELECTRONICS FOR IMAGING INC 0.75% 09/01/2019$6,869,794
PRICELINE GROUP INC/THE .35% 06/15/2020$6,719,850
CTRIP.COM INTERNATIONAL LTD 1% 07/01/2020$6,645,363
EXTRA SPACE STORAGE LP 3.125% 10/01/2035$6,616,981
BIOMARIN PHARMACEUTICAL INC .75% 10/15/2018$6,550,375
MICROCHIP TECHNOLOGY INC 1.625% 02/15/2025$6,532,556
UNITED STATES TREASURY NOTE/BOND .875% 04/30/2017$6,518,278
NXP SEMICONDUCTORS NV 1% 12/01/2019$6,035,575
RTI INTERNATIONAL METALS INC 1.625% 10/15/2019$5,940,900
MEDIDATA SOLUTIONS INC 1% 08/01/2018$5,934,353
INTERDIGITAL INC/PA 1.5 03/01/2020$5,822,564
NUVASIVE INC 2.25 03/15/2021$5,692,697
STARWOOD PROPERTY TRUST INC 4.55% 03/01/2018$5,559,333
FEDERAL HOME LOAN MORTGAGE CORP 1.125 03/16/2018$5,490,428
CARDTRONICS INC 1% 12/01/2020$5,386,800
WRIGHT MEDICAL GROUP INC 2% 02/15/2020$5,298,941
RED HAT INC 0.25% 10/01/2019$5,244,350
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1% 02/26/2019$5,219,363
INVITATION HOMES 2014-SFR1 TRUST 1.198% 06/17/2031$5,043,173
BROOKDALE SENIOR LIVING INC 2.75% 06/15/2018$4,962,678
ALLSCRIPTS HEALTHCARE SOLUTIONS INC 1.25% 07/01/2020$4,899,975
WEB.COM GROUP INC 1% 08/15/2018$4,619,375
HURON CONSULTING GROUP INC 1.25% 10/01/2019$4,539,478
PROOFPOINT INC .75% 06/15/2020$4,341,038
HERBALIFE LTD 2% 08/15/2019$4,290,038
SPIRIT REALTY CAPITAL INC 2.875% 05/15/2019$4,215,533
ARES CAPITAL CORP 4.375% 01/15/2019$4,207,588
HOLOGIC INC 0% 12/15/2043$3,960,178
AKAMAI TECHNOLOGIES INC 0% 02/15/2019$3,908,720
UNITED STATES TREASURY NOTE/BOND 1% 09/15/2018$3,844,738
IMPAX LABORATORIES INC 2% 06/15/2022$3,829,522
FDIC GUARANTEED NOTES TRUST 2010-S1 3.25% 04/25/2038$3,813,018
LIBERTY MEDIA CORP 1.375% 10/15/2023$3,787,500
MACQUARIE INFRASTRUCTURE CORP 2.875% 07/15/2019$3,775,953
TESLA MOTORS INC .25% 03/01/2019$3,640,566
TIVO INC 2% 10/01/2021$3,550,925
J2 GLOBAL INC 3.25% 06/15/2029$3,484,129
COLONY AMERICAN HOMES 2015-1 1.398% 07/17/2032$3,452,959
NATIONAL HEALTH INVESTORS INC 3.25% 04/01/2021$3,428,250
MOLINA HEALTHCARE INC 1.625% 08/15/2044$3,414,206
CEPHEID 1.25% 02/01/2021$3,393,938
NEDERLANDSE WATERSCHAPSBANK NV 1.25% 09/18/2017$3,307,451
ON SEMICONDUCTOR CORP 1% 12/01/2020$3,305,547
PORSCHE INNOVATIVE LEASE OWNER TRUST 201 1.19% 07/23/2018$3,296,524
TOLL BROTHERS FINANCE CORP .5% 09/15/2032$3,292,209
CREDIT SUISSE/NEW YORK NY 1.375% 05/26/2017$3,240,826
VERINT SYSTEMS INC 1.5% 06/01/2021$3,222,773
EURONET WORLDWIDE INC 1.5% 10/01/2044$3,217,266
SYNCHRONOSS TECHNOLOGIES INC .75% 08/15/2019$3,146,573
PRICELINE GROUP INC/THE 0.9% 09/15/2021$3,146,400
WORKDAY INC .75% 07/15/2018$3,118,813
INVITATION HOMES 2014-SFR2 TRUST 1.298% 09/17/2031$3,079,664
NUANCE COMMUNICATIONS INC 1% 12/15/2035$3,071,575
ROVI CORP 0.5 03/01/2020$3,068,109
ILLUMINA INC 0% 06/15/2019$3,053,813
STILLWATER MINING CO 1.75 10/15/2032$3,003,536
CARMAX AUTO OWNER TRUST 2015-2 1.37% 03/16/2020$2,988,164
GENERAL MOTORS FINANCIAL CO INC 2.4% 04/10/2018$2,919,300
INTEGRA LIFESCIENCES HOLDINGS CORP 1.625% 12/15/2016$2,911,738
STANDARD CHARTERED PLC 1.5% 09/08/2017$2,881,562
NEWMONT MINING CORP 1.625% 07/15/2017$2,877,039
KOMMUNINVEST I SVERIGE AB 1.5 04/23/2019$2,864,310
LIVE NATION ENTERTAINMENT INC 2.5% 05/15/2019$2,831,769
FEDERAL HOME LOAN MORTGAGE CORP 1.125 04/15/2019$2,830,000
BECTON DICKINSON AND CO 1.45% 05/15/2017$2,815,859
UNITED STATES TREASURY NOTE/BOND 0.875% 11/30/2017$2,807,274
YAHOO! INC 0% 12/01/2018$2,802,750
AMGEN INC 1.25% 05/22/2017$2,664,836
CEMEX SAB DE CV 3.72% 03/15/2020$2,638,013
MMAF EQUIPMENT FINANCE LLC 2015-A 1.39% 10/16/2019$2,632,116
SOUTHERN CALIFORNIA EDISON CO 1.845% 02/01/2022$2,622,406
HEALTHSOUTH CORP 2% 12/01/2043$2,601,680
WEBMD HEALTH CORP 2.5% 01/31/2018$2,596,175
CHASE ISSUANCE TRUST 1.15% 01/15/2019$2,554,742
UNITED STATES TREASURY NOTE/BOND .875% 01/15/2018$2,505,908
ROYAL BANK OF CANADA 1.625 04/15/2019$2,444,729
HILTON USA TRUST 2013-HLF 1.19% 11/05/2030$2,419,697
ROYAL GOLD INC 2.875% 06/15/2019$2,406,172
JP MORGAN CHASE COMMERCIAL MORTGAGE SECU 1.438% 01/15/2032$2,381,813
INTERNATIONAL LEASE FINANCE CORP 3.875% 04/15/2018$2,360,600
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 1.25% 05/23/2017$2,352,870
ECHO GLOBAL LOGISTICS INC 2.5% 05/01/2020$2,322,928
BANK NEDERLANDSE GEMEENTEN NV 1% 02/12/2018$2,319,756
BROCADE COMMUNICATIONS SYSTEMS INC 1.375% 01/01/2020$2,301,441
FEDERAL HOME LOAN MORTGAGE CORP 2.473% 09/01/2035$2,292,148
TRADE MAPS 1 LTD .892% 12/10/2018$2,290,435
CREDIT AGRICOLE SA/LONDON 1.089% 04/15/2019$2,285,188
HEWLETT PACKARD ENTERPRISE CO 2.85% 10/05/2018$2,267,519
LAM RESEARCH CORP 1.25% 05/15/2018$2,240,981
HOLOGIC INC 2% 03/01/2042$2,210,697
WHITING PETROLEUM CORP 1.25 04/01/2020$2,169,800
NUANCE COMMUNICATIONS INC 1.5% 11/01/2035$2,164,575
CAISSE D'AMORTISSEMENT DE LA DETTE SOCIA 1.25% 03/12/2018$2,160,260
COLONY STARWOOD HOMES 3% 07/01/2019$2,088,694
ALLY FINANCIAL INC 3.25% 09/29/2017$2,065,150
VECTOR GROUP LTD 5.5% 04/15/2020$2,052,000
TTM TECHNOLOGIES INC 1.75% 12/15/2020$2,013,093
CHASE ISSUANCE TRUST .448% 04/15/2019$1,992,833
BP CAPITAL MARKETS PLC 1.674% 02/13/2018$1,987,512
TWITTER INC 0.25% 09/15/2019$1,983,413
INTEL CORP 2.95% 12/15/2035$1,978,797
SERVICENOW INC 0% 11/01/2018$1,971,497
SYNCHRONY CREDIT CARD MASTER NOTE TRUST 1.6% 04/15/2021$1,969,596
GLENCORE FINANCE CANADA LTD 2.7% 10/25/2017$1,966,825
SIEMENS FINANCIERINGSMAATSCHAPPIJ NV 1.65 08/16/2019$1,945,125
BROADSOFT INC 1% 09/01/2022$1,937,475
BB&T CORP .96% 02/01/2019$1,924,152
ENCORE CAPITAL GROUP INC 3% 07/01/2020$1,919,728
BNZ INTERNATIONAL FUNDING LTD/LONDON 1.9% 02/26/2018$1,908,094
CSMC TRUST 2013-IVR2 1.55% 04/25/2043$1,902,295
VIPSHOP HOLDINGS LTD 1.5% 03/15/2019$1,900,950
CITIZENS BANK NA/PROVIDENCE RI 1.6% 12/04/2017$1,895,294
TALEN ENERGY SUPPLY LLC 4.625% 07/15/2019$1,884,025
CAPITAL AUTO RECEIVABLES ASSET TRUST 201 1.39% 09/20/2018$1,879,871
ASIAN DEVELOPMENT BANK .75% 07/28/2017$1,877,782
PATTERN ENERGY GROUP INC 4% 07/15/2020$1,875,473
SALESFORCE.COM INC .25% 04/01/2018$1,870,350
COLONY AMERICAN HOMES 2014-2 1.137% 07/17/2031$1,850,512
INPHI CORP 1.125 12/01/2020$1,830,214
DISCOVER BANK/GREENWOOD DE 2.6% 11/13/2018$1,818,797
EMPIRE STATE REALTY OP LP 2.625% 08/15/2019$1,805,440
MACQUARIE BANK LTD 1.6% 10/27/2017$1,799,609
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.399% 07/25/2024$1,798,176
AUSTRALIA & NEW ZEALAND BANKING GROUP LTD/NEW YORK NY 2% 11/16/2018$1,783,578
CATERPILLAR FINANCIAL SERVICES CORP 1% 03/03/2017$1,763,900
AES CORP/VA 3.283% 06/01/2019$1,751,075
WESTPAC BANKING CORP 1.95% 11/23/2018$1,743,302
CHEVRON CORP 1.344% 11/09/2017$1,738,647
IRONWOOD PHARMACEUTICALS INC 2.25% 06/15/2022$1,737,122
ACTAVIS FUNDING SCS 2.35% 03/12/2018$1,724,447
INSULET CORP 2% 06/15/2019$1,709,640
BANK OF AMERICA CORP 1.351% 03/22/2018$1,709,112
EUROPEAN INVESTMENT BANK 1.125% 08/15/2018$1,703,077
MANUFACTURERS & TRADERS TRUST CO 1.4% 07/25/2017$1,697,982
KRAFT HEINZ FOODS CO 2% 07/02/2018$1,687,742
INTEGRATED DEVICE TECHNOLOGY INC 0.875% 11/15/2022$1,681,691
HSBC BANK PLC .961% 05/15/2018$1,681,584
FORD MOTOR CREDIT CO LLC 1.684% 09/08/2017$1,674,001
BANK OF TOKYO-MITSUBISHI UFJ LTD/THE 1.45% 09/08/2017$1,659,205
ANTHEM INC 2.375% 02/15/2017$1,658,152
UBS AG/STAMFORD CT 1.8% 03/26/2018$1,656,819
SUNPOWER CORP 4% 01/15/2023$1,655,981
TWITTER INC 1% 09/15/2021$1,654,975
NEWELL RUBBERMAID INC 2.15% 10/15/2018$1,653,607
ARAMARK CORP US TLE 3.25% 06/30/2016$1,635,094
DAIMLER FINANCE NORTH AMERICA LLC 1.65% 03/02/2018$1,632,714
MORGAN STANLEY 1.435% 01/27/2020$1,631,914
HORIZON PHARMA INVESTMENT LTD 2.5 03/15/2022$1,629,518
ABBVIE INC 1.75% 11/06/2017$1,628,970
SUNTORY HOLDINGS LTD 1.65% 09/29/2017$1,624,204
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.141% 07/01/2041$1,620,408
AIRCASTLE LTD 6.75% 04/15/2017$1,609,736
ZIMMER BIOMET HOLDINGS INC 2% 04/01/2018$1,603,525
CSG SYSTEMS INTERNATIONAL INC 4.25 03/15/2036$1,597,609
DEPOMED INC 2.5% 09/01/2021$1,585,045
CHART INDUSTRIES INC 2% 08/01/2018$1,578,544
CITIGROUP INC 1.55% 08/14/2017$1,561,861
KUBOTA CREDIT OWNER TRUST 2015-1 .94% 12/15/2017$1,555,516
NABORS INDUSTRIES INC 2.35% 09/15/2016$1,549,248
ABBEY NATIONAL TREASURY SERVICES PLC/LON 1.65% 09/29/2017$1,548,084
TENET HEALTHCARE CORP 6.25% 11/01/2018$1,517,900
CAPITAL ONE NA/MCLEAN VA 1.5% 09/05/2017$1,516,743
PROVINCE OF BRITISH COLUMBIA CANADA 1.2% 04/25/2017$1,505,364
L-3 COMMUNICATIONS CORP 1.5% 05/28/2017$1,500,092
WORKDAY INC 1.5 07/15/2020$1,492,547
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.149% 05/25/2024$1,490,939
CALATLANTIC GROUP INC 1.625% 05/15/2018$1,472,925
ANHEUSER-BUSCH INBEV FINANCE INC 1.9% 02/01/2019$1,471,370
ANHEUSER-BUSCH INBEV FINANCE INC 2.65% 02/01/2021$1,469,635
CDW LLC TERM LOAN 3.25% 06/30/2016$1,467,589
AP MOELLER - MAERSK A/S 2.55% 09/22/2019$1,458,087
DAIMLER FINANCE NORTH AMERICA LLC 1.375% 08/01/2017$1,450,490
MIZUHO BANK LTD 1.2431% 03/26/2018$1,444,128
AMTRUST FINANCIAL SERVICES INC 2.75% 12/15/2044$1,441,384
FIREEYE INC 1.625% 06/01/2035$1,431,750
WEBMD HEALTH CORP 1.5% 12/01/2020$1,422,388
LINKEDIN CORP 0.5% 11/01/2019$1,413,758
AT&T INC 1.237% 11/27/2018$1,403,532
THOMSON REUTERS CORP 1.65% 09/29/2017$1,382,601
CALATLANTIC GROUP INC 1.25% 08/01/2032$1,381,231
CIENA CORP 3.75 10/15/2018$1,375,550
ING BANK NV 2% 11/26/2018$1,374,788
TEVA PHARMACEUTICAL FINANCE CO LLC .25% 02/01/2026$1,373,450
INVITATION HOMES 2015-SFR3 TRUST 1.621% 08/17/2032$1,366,963
MEDICINES CO/THE 2.5% 01/15/2022$1,362,364
VERIZON COMMUNICATIONS INC 1.35% 06/09/2017$1,353,842
HYUNDAI CAPITAL AMERICA 1.45% 02/06/2017$1,339,567
FANNIE MAE CONNECTICUT AVENUE SECURITIES 2.585 09/25/2028$1,325,262
PRA GROUP INC 3% 08/01/2020$1,306,854
JPMORGAN CHASE & CO 1.195% 01/25/2018$1,305,974
FMS WERTMANAGEMENT AOER 1.125% 09/05/2017$1,303,722
MORGAN STANLEY 2.45% 02/01/2019$1,300,364
COLONY CAPITAL INC 5% 04/15/2023$1,292,600
IMPERIAL TOBACCO FINANCE PLC 2.05% 07/20/2018$1,278,202
SEQUOIA MORTGAGE TRUST 2013-4 1.55% 04/25/2043$1,278,119
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.799% 01/25/2024$1,277,901
METROPOLITAN LIFE GLOBAL FUNDING I 1.95% 12/03/2018$1,273,789
AMERICAN EXPRESS CO .919% 05/22/2018$1,265,187
TOYOTA MOTOR CREDIT CORP 1.125% 05/16/2017$1,253,351
SYNCHRONY FINANCIAL 1.875% 08/15/2017$1,245,454
BANK OF AMERICA CORP 1.7% 08/25/2017$1,244,087
GOLDMAN SACHS GROUP INC/THE 1.42% 11/15/2018$1,243,558
MORGAN STANLEY 1.034% 07/23/2019$1,240,701
JOHN DEERE CAPITAL CORP 1.4% 03/15/2017$1,240,507
CNH INDUSTRIAL CAPITAL LLC 3.875% 07/16/2018$1,226,100
CITIGROUP INC 2.05% 12/07/2018$1,217,091
CIT GROUP INC 5.25% 03/15/2018$1,214,656
COMPASS BANK 1.85% 09/29/2017$1,214,323
AMERIGAS PARTNERS LP / AMERIGAS FINANCE 6.25% 08/20/2019$1,212,450
ACTAVIS FUNDING SCS 1.543% 03/12/2020$1,209,297
TIAA ASSET MANAGEMENT FINANCE CO LLC 2.95% 11/01/2019$1,204,609
SHUTTERFLY INC 0.25 05/15/2018$1,202,250
SUNTRUST BANK/ATLANTA GA 1.35% 02/15/2017$1,201,277
COMMONWEALTH BANK OF AUSTRALIA/NEW YORK NY 1.75% 11/02/2018$1,195,892
SANTANDER BANK NA 2% 01/12/2018$1,195,656
BANK OF NEW YORK MELLON CORP/THE .86% 08/01/2018$1,185,647
WPX ENERGY INC 5.25% 01/15/2017$1,166,469
PNC BANK NA 1.95 03/04/2019$1,162,895
ALLIED IRISH BANKS PLC 2.875% 11/28/2016$1,161,222
INVITATION HOMES 2013-SFR1 TRUST 1.4% 12/17/2030$1,156,902
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.138% 03/01/2036$1,156,814
ASTORIA FINANCIAL CORP 5% 06/19/2017$1,155,167
ING BANK NV 2.3 03/22/2019$1,153,170
STRUCTURED ASSET INVESTMENT LOAN TRUST 2 .879% 01/25/2033$1,152,748
DISH DBS CORP 4.625% 07/15/2017$1,149,400
REGIONS FINANCIAL CORP 2% 05/15/2018$1,149,002
NISSAN MOTOR ACCEPTANCE CORP 2 03/08/2019$1,147,149
HEALTHWAYS INC 1.5% 07/01/2018$1,137,491
ENVESTNET INC 1.75% 12/15/2019$1,125,690
SEACOR HOLDINGS INC 2.5% 12/15/2027$1,122,816
HEWLETT PACKARD ENTERPRISE CO 2.45% 10/05/2017$1,122,808
QUALCOMM INC 1.4% 05/18/2018$1,121,774
HSBC USA INC 1.7% 03/05/2018$1,121,429
PROOFPOINT INC 1.25% 12/15/2018$1,104,647
CNPC GENERAL CAPITAL LTD 1.209% 05/14/2017$1,101,113
PERRIGO CO PLC 1.3% 11/08/2016$1,097,828
ACTAVIS FUNDING SCS 1.3% 06/15/2017$1,097,633
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.199% 10/25/2023$1,092,258
ABBVIE INC 1.8% 05/14/2018$1,088,052
UNITED STATES TREASURY NOTE/BOND .5% 06/15/2016$1,085,362
SHELL INTERNATIONAL FINANCE BV 1.25% 11/10/2017$1,081,510
BLACKSTONE MORTGAGE TRUST INC 5.25% 12/01/2018$1,072,728
NCUA GUARANTEED NOTES TRUST 2010-A1 .543% 12/07/2020$1,065,266
SHELL INTERNATIONAL FINANCE BV 1.625% 11/10/2018$1,047,472
SCORPIO TANKERS INC 2.375% 07/01/2019$1,045,894
DEVON ENERGY CORP .826% 12/15/2016$1,045,229
BERKSHIRE HATHAWAY FINANCE CORP 1.7 03/15/2019$1,044,905
MITSUBISHI UFJ TRUST & BANKING CORP 1.6% 10/16/2017$1,039,749
CANADIAN NATURAL RESOURCES LTD 1.75% 01/15/2018$1,032,731
CITIGROUP INC .551% 06/09/2016$1,030,118
GOLDMAN SACHS GROUP INC/THE 5.625% 01/15/2017$1,029,879
STANLEY BLACK & DECKER INC 2.451% 11/17/2018$1,029,527
GLENCORE FUNDING LLC 1.649% 01/15/2019$1,024,600
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 1.6% 11/20/2017$1,017,054
PENSKE TRUCK LEASING CO LP / PTL FINANCE 3.2% 07/15/2020$1,009,333
CALIFORNIA EARTHQUAKE AUTHORITY 1.824% 07/01/2017$1,008,100
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.649% 11/25/2023$1,004,558
JACKSON NATIONAL LIFE GLOBAL FUNDING 1.25% 02/21/2017$1,001,363
PORSCHE FINANCIAL AUTO SECURITIZATION TR .67% 01/23/2018$980,110
NRG YIELD INC 3.5% 02/01/2019$980,109
ASHLAND INC 3.875% 04/15/2018$969,375
KEYW HOLDING CORP/THE 2.5% 07/15/2019$952,850
WELLS FARGO BANK NA 1.65% 01/22/2018$927,746
NATIONAL OILWELL VARCO INC 1.35% 12/01/2017$920,513
SUNTRUST BANK/ATLANTA GA 5.2% 01/17/2017$919,111
PALO ALTO NETWORKS INC 0% 07/01/2019$914,500
VENTAS REALTY LP 1.55% 09/26/2016$907,412
HYUNDAI CAPITAL AMERICA 2% 03/19/2018$904,296
VERIZON COMMUNICATIONS INC 1.816% 09/15/2016$904,274
NVIDIA CORP 1% 12/01/2018$902,372
ALIBABA GROUP HOLDING LTD 1.625% 11/28/2017$900,023
BANCO SANTANDER CHILE 1.186% 04/11/2017$900,000
BANK OF AMERICA CORP .85% 05/02/2017$894,821
MIZUHO BANK LTD 1.7% 09/25/2017$890,472
INDUSTRIAL & COMMERCIAL BANK OF CHINA LT 2.351% 11/13/2017$887,129
SBA COMMUNICATIONS CORP 5.625% 10/01/2019$885,063
FORD MOTOR CREDIT CO LLC 3% 06/12/2017$884,044
JPMORGAN CHASE & CO .84% 02/15/2017$880,405
BAXALTA INC 1.061% 06/22/2018$879,232
VERIZON COMMUNICATIONS INC 2.036% 09/14/2018$872,903
CVS HEALTH CORP 1.9% 07/20/2018$867,226
CITIGROUP INC 2.021% 05/15/2018$863,349
EXPRESS SCRIPTS HOLDING CO 1.25% 06/02/2017$859,739
CALAMP CORP 1.625% 05/15/2020$848,044
FIFTH THIRD BANCORP 5.45% 01/15/2017$847,523
WANT WANT CHINA FINANCE LTD 1.875% 05/14/2018$845,506
SPRINGLEAF MORTGAGE LOAN TRUST 2013-1 1.27% 06/25/2058$840,883
SEACOR HOLDINGS INC 3 11/15/2028$831,163
MOBILE MINI INC 7.875% 12/01/2020$811,768
CHEVRON CORP 1.79% 11/16/2018$810,490
MIZUHO BANK LTD 1.3% 04/16/2017$808,967
GENERAL MILLS INC 1.4% 10/20/2017$804,260
BMW US CAPITAL LLC 1.5 04/11/2019$802,030
KEYBANK NA/CLEVELAND OH 2.35 03/08/2019$799,880
ABBEY NATIONAL TREASURY SERVICES PLC/LON .796% 03/13/2017$799,410
PRUDENTIAL FINANCIAL INC 1.1% 08/15/2018$798,403
CAPITAL ONE FINANCIAL CORP 6.15% 09/01/2016$782,459
NCUA GUARANTEED NOTES TRUST 2010-R1 .641% 10/07/2020$781,786
WEA FINANCE LLC / WESTFIELD UK & EUROPE 1.75% 09/15/2017$779,504
FREDDIE MAC STRUCTURED AGENCY CREDIT RISK DEBT NOTES 1.5716% 05/25/2028$772,361
JOHN DEERE CAPITAL CORP 1.125% 06/12/2017$762,421
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2014-3 3.13 10/08/2020$748,938
ARAMARK SERVICES INC 5.75% 03/15/2020$743,850
GENERAL MOTORS FINANCIAL CO INC 3% 09/25/2017$740,930
FIFTH THIRD AUTO TRUST 2014-1 .68% 04/16/2018$736,282
REYNOLDS AMERICAN INC 2.3% 06/12/2018$734,404
CITIGROUP INC 1.85% 11/24/2017$722,834
NSTAR ELECTRIC CO .56% 05/17/2016$720,049
HESS CORP 1.3% 06/15/2017$703,879
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.149% 05/25/2024$700,747
SEQUOIA MORTGAGE TRUST 2013-1 1.45% 02/25/2043$699,450
THOMSON REUTERS CORP 1.3% 02/23/2017$699,194
CISCO SYSTEMS INC 1.6% 02/28/2019$699,193
CELGENE CORP 2.125% 08/15/2018$689,565
MORGAN STANLEY 6.625% 04/01/2018$687,563
CHENIERE ENERGY INC 4.25% 03/15/2045$685,875
HUNTINGTON NATIONAL BANK/THE 2.2% 11/06/2018$685,499
NORDEA BANK AB 1.875% 09/17/2018$684,423
FIFTH THIRD BANK/CINCINNATI OH 2.3 03/15/2019$677,298
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.004% 06/01/2041$669,543
CAPITAL ONE NA/MCLEAN VA 1.65% 02/05/2018$667,534
JP MORGAN MORTGAGE TRUST 2013-1 2.5% 03/25/2043$658,322
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2016-2 2.21 05/10/2021$641,609
SPIRIT REALTY CAPITAL INC 3.75% 05/15/2021$635,094
RYDER SYSTEM INC 2.5% 03/01/2017$625,897
ENBRIDGE INC .734% 06/02/2017$621,139
ELECTRICITE DE FRANCE SA 1.15% 01/20/2017$620,266
CAMERON INTERNATIONAL CORP 1.4% 06/15/2017$617,632
DUKE ENERGY CORP .664% 04/03/2017$617,549
EXXON MOBIL CORP 1.439 03/01/2018$616,039
CATERPILLAR FINANCIAL SERVICES CORP 1.25% 08/18/2017$604,129
GATX CORP 2.5% 07/30/2019$603,695
JB HUNT TRANSPORT SERVICES INC 2.4% 03/15/2019$601,052
BANK OF TOKYO-MITSUBISHI UFJ LTD/THE 1.2% 03/10/2017$599,369
PENSKE TRUCK LEASING CO LP / PTL FINANCE 3.75% 05/11/2017$581,858
XCEL ENERGY INC .75% 05/09/2016$579,997
EXXON MOBIL CORP 1.708 03/01/2019$578,083
NBCUNIVERSAL ENTERPRISE INC .974% 04/15/2018$570,872
CAPITAL ONE BANK USA NA 1.15% 11/21/2016$570,474
SHELL INTERNATIONAL FINANCE BV 0.9214% 11/10/2018$568,501
BAIDU INC 2.25% 11/28/2017$564,016
PACCAR FINANCIAL CORP .879% 12/06/2018$561,914
MIZUHO FINANCIAL GROUP INC 2.632 04/12/2021$560,683
STRYKER CORP 2 03/08/2019$557,695
OPTION ONE MORTGAGE LOAN TRUST 2005-4 AS .459% 11/25/2035$541,689
GSAMP TRUST 2004-SEA2 .849% 03/25/2034$541,004
VERIZON COMMUNICATIONS INC 1.053% 06/17/2019$540,690
CENTERPOINT ENERGY TRANSITION BOND CO IV .901% 04/15/2018$534,170
HUTCHISON WHAMPOA INTERNATIONAL 12 II LT 2% 11/08/2017$533,051
NEWELL RUBBERMAID INC 2.6 03/29/2019$532,397
SYNCHRONY FINANCIAL 1.53% 02/03/2020$532,281
SEQUOIA MORTGAGE TRUST 2012-1 2.865% 01/25/2042$527,231
UNITED STATES TREASURY NOTE/BOND 1.25% 12/15/2018$525,169
AVIS BUDGET CAR RENTAL LLC / AVIS BUDGET 4.875% 11/15/2017$521,633
COLONY AMERICAN HOMES 2014-1 1.4% 05/17/2031$519,067
HERTZ CORP/THE 6.75% 04/15/2019$512,068
TSMC GLOBAL LTD 1.625% 04/03/2018$507,258
AMERICAN HOMES 4 RENT 2014-SFR1 1.25% 06/17/2031$506,641
CREDIT SUISSE/NEW YORK NY 1.75% 01/29/2018$501,888
EBAY INC 2.5 03/09/2018$499,289
FREEPORT-MCMORAN INC 2.15% 03/01/2017$494,845
MURPHY OIL CORP 2.5% 12/01/2017$493,100
WALGREENS BOOTS ALLIANCE INC 1.75% 11/17/2017$492,597
BAXALTA INC 2% 06/22/2018$488,985
AUTODESK INC 1.95% 12/15/2017$487,673
COMMONWEALTH BANK OF AUSTRALIA/NEW YORK NY 2.05 03/15/2019$485,579
AT&T INC 5.5% 02/01/2018$482,036
APOLLO COMMERCIAL REAL ESTATE FINANCE INC 5.5% 03/15/2019$476,037
FIDELITY NATIONAL INFORMATION SERVICES I 2% 04/15/2018$471,535
MERITOR INC 7.875% 03/01/2026$470,126
KINDER MORGAN INC/DE 3.05% 12/01/2019$467,749
HYUNDAI CAPITAL AMERICA 2.125% 10/02/2017$467,223
SPRINGLEAF MORTGAGE LOAN TRUST 2013-2 1.78% 12/25/2065$464,405
QBE INSURANCE GROUP LTD 2.4% 05/01/2018$463,122
MACQUARIE BANK LTD .925% 10/27/2017$448,767
KINDER MORGAN INC/DE 2% 12/01/2017$446,253
PENSKE TRUCK LEASING CO LP / PTL FINANCE 2.5% 06/15/2019$439,790
BP CAPITAL MARKETS PLC .821% 05/10/2018$436,199
CC HOLDINGS GS V LLC / CROWN CASTLE GS I 2.381% 12/15/2017$435,326
TECO FINANCE INC .883% 04/10/2018$432,112
BRITISH TELECOMMUNICATIONS PLC 1.625% 06/28/2016$430,502
NELNET STUDENT LOAN TRUST 2014-2 .479% 06/25/2021$430,098
SUNTRUST BANK/ATLANTA GA .761% 02/15/2017$429,455
ABBEY NATIONAL TREASURY SERVICES PLC/UNITED KINGDOM 2.5 03/14/2019$426,753
LLOYDS BANK PLC 2.3% 11/27/2018$425,755
HUNTINGTON NATIONAL BANK/THE 1.3% 11/20/2016$420,491
WHIRLPOOL CORP 1.65% 11/01/2017$411,260
ENBRIDGE INC .934% 10/01/2016$407,129
APPLE INC 1.7% 02/22/2019$405,634
FORD MOTOR CREDIT CO LLC 1.118% 03/12/2019$404,650
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.249% 03/25/2025$404,185
KROGER CO/THE 2.2% 01/15/2017$403,188
HUNTINGTON NATIONAL BANK/THE 1.35% 08/02/2016$400,219
BANK OF AMERICA MORTGAGE 2002-K TRUST 2.71% 10/20/2032$389,482
SYNCHRONY FINANCIAL 3% 08/15/2019$385,853
THERMO FISHER SCIENTIFIC INC 2.15% 12/14/2018$383,167
CAPITAL AUTO RECEIVABLES ASSET TRUST / A 1.74% 10/22/2018$380,435
KEYBANK NA/CLEVELAND OH .819% 11/25/2016$380,408
AMPHENOL CORP 1.55% 09/15/2017$379,964
NCUA GUARANTEED NOTES TRUST 2011-R4 .571% 03/06/2020$377,577
ANZ NEW ZEALAND INT'L LTD/LONDON 1.4% 04/27/2017$371,026
CAPITAL AUTO RECEIVABLES ASSET TRUST / A 1.29% 04/20/2018$369,808
LA ARENA FUNDING LLC 7.656% 12/15/2026$366,983
SOUTHERN POWER CO 1.85% 12/01/2017$362,541
BECTON DICKINSON AND CO 1.8% 12/15/2017$362,046
JOHN DEERE CAPITAL CORP .576% 10/11/2016$360,392
BAT INTERNATIONAL FINANCE PLC .796% 06/15/2018$359,270
ELECTRICITE DE FRANCE SA .747% 01/20/2017$349,494
RYLAND GROUP INC/THE .25% 06/01/2019$343,900
MEDTRONIC INC 1.5% 03/15/2018$342,921
SYSCO CORP 1.9 04/01/2019$342,717
NATIONAL AUSTRALIA BANK LTD 1.3% 06/30/2017$340,621
CNOOC FINANCE 2013 LTD 1.125% 05/09/2016$339,983
AUTOZONE INC 1.3% 01/13/2017$335,669
WESTERN DIGITAL CORP 10.5 04/01/2024$331,500
CARNIVAL CORP 1.875% 12/15/2017$321,509
PACCAR FINANCIAL CORP 1.1% 06/06/2017$320,777
PHILLIPS 66 2.95% 05/01/2017$315,868
GENERAL MOTORS FINANCIAL CO INC 2.75% 05/15/2016$310,180
TESLA MOTORS INC 1.25% 03/01/2021$308,409
WM WRIGLEY JR CO 2% 10/20/2017$303,320
APPLE INC 1.3% 02/23/2018$301,862
MCKESSON CORP 1.292% 03/10/2017$300,584
FIFTH THIRD BANK/CINCINNATI OH .834% 11/18/2016$300,417
KEYBANK NA/CLEVELAND OH 1.1% 11/25/2016$300,282
JOHNSON CONTROLS INC 1.4% 11/02/2017$299,642
UNITED STATES TREASURY NOTE/BOND .625% 11/30/2017$299,590
MIZUHO BANK LTD .731% 09/25/2017$299,297
FIDELITY NATIONAL INFORMATION SERVICES I 1.45% 06/05/2017$289,544
HERTZ FLEET LEASE FUNDING LP .741% 12/10/2027$286,519
ILLUMINA INC .5% 06/15/2021$279,450
GREATAMERICA LEASING RECEIVABLES FUNDING 1.83% 06/17/2019$270,249
SANTANDER DRIVE AUTO RECEIVABLES TRUST 2015-1 3.24 04/15/2021$262,962
CITIZENS BANK NA/PROVIDENCE RI 2.3% 12/03/2018$261,763
LOCKHEED MARTIN CORP 1.85% 11/23/2018$254,665
WEA FINANCE LLC / WESTFIELD UK & EUROPE 2.7% 09/17/2019$253,269
SYNCHRONY FINANCIAL 2.6% 01/15/2019$241,891
AMERICAN EXPRESS CREDIT CORP 1.125% 06/05/2017$229,907
VENTAS REALTY LP 1.25% 04/17/2017$229,594
TRANSALTA CORP 1.9% 06/03/2017$221,359
COCA-COLA CO/THE 0.875% 10/27/2017$202,214
ALIBABA GROUP HOLDING LTD 2.5% 11/28/2019$201,377
BRITISH TELECOMMUNICATIONS PLC 1.25% 02/14/2017$200,070
ZIMMER BIOMET HOLDINGS INC 2.7% 04/01/2020$183,395
CITIBANK CREDIT CARD ISSUANCE TRUST 1.11% 07/23/2018$170,159
SEQUOIA MORTGAGE TRUST 2012-2 3.5% 04/25/2042$166,028
SUNPOWER CORP .875% 06/01/2021$148,347
HEARTWARE INTERNATIONAL INC 1.75% 12/15/2021$131,813
FEDERAL HOME LOAN MORTGAGE CORP 2.533% 12/01/2039$121,328
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.375% 03/01/2036$96,558
CREDIT SUISSE FIRST BOSTON MORTGAGE SECU 5% 04/25/2019$21,639
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$16,828,072
UNITED STATES ZERO 05/16$14,999,850
OHIO HOUSING FINANCE AGENCY 0.44% 03/01/2037$1,440,000
 
Other
Holding NameMarket Value
RUSSELL 2000 MINI EQUITY INDEX JUN16 (RTAM6)$15,654,693
USD$3,380,300
CURRENCY CONTRACT$28,244
CURRENCY CONTRACT$26,956
US 2YR NOTE (CBT) BOND JUN16 (TUM6) COMDTY$13,699
EURO$274
CURRENCY CONTRACT$-5,292
US 5YR NOTE (CBT) BOND JUN16 (FVM6) COMDTY$-5,668
CURRENCY CONTRACT$-6,104
CURRENCY CONTRACT$-7,838
CURRENCY CONTRACT$-12,373
CURRENCY CONTRACT$-12,964
USD$-21,888,815
All Holdings As of Mar 31, 2016
Equity
Holding NameMarket Value
SIMON PROPERTY GROUP INC$5,044,582
AMERICAN TOWER CORP$3,476,155
PUBLIC STORAGE$3,191,353
ALLERGAN PLC$3,033,162
EQUITY RESIDENTIAL$2,150,585
AVALONBAY COMMUNITIES INC$2,047,883
TEVA PHARMACEUTICAL INDUSTRIES LTD$1,944,668
WELLTOWER INC$1,930,426
PROLOGIS INC$1,822,116
CROWN CASTLE INTERNATIONAL CORP$1,766,120
ANTHEM INC$1,732,199
KINDER MORGAN INC/DE$1,695,760
VENTAS INC$1,654,148
HESS CORP$1,537,176
BOSTON PROPERTIES INC$1,528,137
GENERAL GROWTH PROPERTIES INC$1,355,539
WPX ENERGY INC$1,337,491
VORNADO REALTY TRUST$1,310,500
ESSEX PROPERTY TRUST INC$1,197,597
HCP INC$1,189,170
DIGITAL REALTY TRUST INC$1,016,662
HOST HOTELS & RESORTS INC$987,321
KIMCO REALTY CORP$934,544
EXTRA SPACE STORAGE INC$915,534
FEDERAL REALTY INVESTMENT TRUST$851,565
UDR INC$802,927
MACERICH CO/THE$786,457
SL GREEN REALTY CORP$761,574
MCDERMOTT INTERNATIONAL INC$709,920
DUKE REALTY CORP$612,479
MID-AMERICA APARTMENT COMMUNITIES INC$603,550
CAMDEN PROPERTY TRUST$575,092
REGENCY CENTERS CORP$569,908
ALEXANDRIA REAL ESTATE EQUITIES INC$522,618
APARTMENT INVESTMENT & MANAGEMENT CO$515,264
AMERICAN CAMPUS COMMUNITIES INC$481,213
EQUITY LIFESTYLE PROPERTIES INC$459,072
CUBESMART$449,550
KILROY REALTY CORP$445,464
DDR CORP$426,320
LIBERTY PROPERTY TRUST$386,563
SOVRAN SELF STORAGE INC$364,466
FOREST CITY REALTY TRUST INC$358,066
HIGHWOODS PROPERTIES INC$355,611
BRIXMOR PROPERTY GROUP INC$343,641
TAUBMAN CENTERS INC$339,696
WEINGARTEN REALTY INVESTORS$337,605
SENIOR HOUSING PROPERTIES TRUST$332,611
DOUGLAS EMMETT INC$331,210
SUN COMMUNITIES INC$323,964
HOSPITALITY PROPERTIES TRUST$319,092
EQUITY COMMONWEALTH$279,378
DCT INDUSTRIAL TRUST INC$276,724
TANGER FACTORY OUTLET CENTERS$269,177
POST PROPERTIES INC$253,298
HEALTHCARE REALTY TRUST INC$247,027
APPLE HOSPITALITY REIT INC$244,753
SUNSTONE HOTEL INVESTORS INC$236,082
PIEDMONT OFFICE REALTY TRUST INC$233,971
DUPONT FABROS TECHNOLOGY INC$229,765
AMERICAN HOMES 4 RENT$229,691
RLJ LODGING TRUST$228,251
LASALLE HOTEL PROPERTIES$222,374
COLUMBIA PROPERTY TRUST INC$213,303
EDUCATION REALTY TRUST INC$206,253
EQUITY ONE INC$200,534
FIRST INDUSTRIAL REALTY TRUST INC$197,838
BRANDYWINE REALTY TRUST$193,614
ACADIA REALTY TRUST$193,250
CORPORATE OFFICE PROPERTIES TRUST$192,024
URBAN EDGE PROPERTIES$188,503
CARE CAPITAL PROPERTIES INC$179,425
KITE REALTY GROUP TRUST$179,422
COUSINS PROPERTIES INC$164,004
PEBBLEBROOK HOTEL TRUST$163,315
MACK-CALI REALTY CORP$162,150
RETAIL OPPORTUNITY INVESTMENTS CORP$158,083
DIAMONDROCK HOSPITALITY CO$157,872
ALERE INC$156,420
PS BUSINESS PARKS INC$156,394
EASTGROUP PROPERTIES INC$155,030
WASHINGTON REAL ESTATE INVESTMENT TRUST$154,813
CBL & ASSOCIATES PROPERTIES INC$141,372
LTC PROPERTIES INC$136,896
WP GLIMCHER INC$135,375
XENIA HOTELS & RESORTS INC$134,566
NEW YORK REIT INC$126,250
MONOGRAM RESIDENTIAL TRUST INC$126,208
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST$118,493
RAMCO-GERSHENSON PROPERTIES TRUST$109,983
PARKWAY PROPERTIES INC/MD$98,658
FELCOR LODGING TRUST INC$82,012
HERSHA HOSPITALITY TRUST$78,425
REXFORD INDUSTRIAL REALTY INC$78,088
FRANKLIN STREET PROPERTIES CORP$72,721
ROUSE PROPERTIES INC$53,302
UNIVERSAL HEALTH REALTY INCOME TRUST$52,875
TIER REIT INC$48,384
SAUL CENTERS INC$46,552
ASHFORD HOSPITALITY TRUST INC$42,108
SILVER BAY REALTY TRUST CORP$41,580
CEDAR REALTY TRUST INC$41,211
FIRST POTOMAC REALTY TRUST$41,078
NATIONAL STORAGE AFFILIATES TRUST$37,821
ASHFORD HOSPITALITY PRIME INC$22,628
NEXPOINT RESIDENTIAL TRUST INC$21,821
 
Fixed Income
Holding NameMarket Value
UNITED STATES TREASURY NOTE/BOND 1% 08/15/2018$18,880,286
UNITED STATES TREASURY NOTE/BOND .75% 02/28/2018$18,773,124
UNITED STATES TREASURY NOTE/BOND 1% 02/15/2018$18,614,082
UNITED STATES TREASURY NOTE/BOND 1% 12/31/2017$18,087,192
UNITED STATES TREASURY NOTE/BOND 1 03/15/2019$10,792,409
UNITED STATES TREASURY NOTE/BOND .625% 09/30/2017$9,583,130
UNITED STATES TREASURY NOTE/BOND .625% 05/31/2017$9,336,171
UNITED STATES TREASURY NOTE/BOND 1% 05/15/2018$9,043,947
CITRIX SYSTEMS INC .5% 04/15/2019$8,801,109
JAZZ INVESTMENTS I LTD 1.875% 08/15/2021$7,354,498
PRICELINE GROUP INC/THE .35% 06/15/2020$7,320,375
UNITED STATES TREASURY NOTE/BOND 1.125% 06/15/2018$7,053,732
EXTRA SPACE STORAGE LP 3.125% 10/01/2035$6,871,972
CTRIP.COM INTERNATIONAL LTD 1% 07/01/2020$6,558,078
DYCOM INDUSTRIES INC 0.75% 09/15/2021$6,533,906
UNITED STATES TREASURY NOTE/BOND .875% 04/30/2017$6,516,120
ELECTRONICS FOR IMAGING INC 0.75% 09/01/2019$6,494,775
BIOMARIN PHARMACEUTICAL INC .75% 10/15/2018$6,019,172
MICROCHIP TECHNOLOGY INC 1.625% 02/15/2025$5,921,320
FEDERAL HOME LOAN MORTGAGE CORP 1.125 03/16/2018$5,494,661
NXP SEMICONDUCTORS NV 1% 12/01/2019$5,435,124
RTI INTERNATIONAL METALS INC 1.625% 10/15/2019$5,388,708
STARWOOD PROPERTY TRUST INC 4.55% 03/01/2018$5,366,953
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1% 02/26/2019$5,233,786
CARDTRONICS INC 1% 12/01/2020$5,163,725
NUVASIVE INC 2.25 03/15/2021$5,143,875
INVITATION HOMES 2014-SFR1 TRUST 1.198% 06/17/2031$5,088,519
WRIGHT MEDICAL GROUP INC 2% 02/15/2020$4,894,781
BROOKDALE SENIOR LIVING INC 2.75% 06/15/2018$4,894,740
RED HAT INC 0.25% 10/01/2019$4,857,938
JARDEN CORP 1.125% 03/15/2034$4,770,120
HURON CONSULTING GROUP INC 1.25% 10/01/2019$4,581,544
MEDIDATA SOLUTIONS INC 1% 08/01/2018$4,515,831
WEB.COM GROUP INC 1% 08/15/2018$4,506,469
ALLSCRIPTS HEALTHCARE SOLUTIONS INC 1.25% 07/01/2020$4,391,638
SPIRIT REALTY CAPITAL INC 2.875% 05/15/2019$4,225,296
HERBALIFE LTD 2% 08/15/2019$4,160,137
ARES CAPITAL CORP 4.375% 01/15/2019$4,125,963
EURONET WORLDWIDE INC 1.5% 10/01/2044$4,007,438
FDIC GUARANTEED NOTES TRUST 2010-S1 3.25% 04/25/2038$3,911,036
PROOFPOINT INC .75% 06/15/2020$3,908,906
AKAMAI TECHNOLOGIES INC 0% 02/15/2019$3,878,285
UNITED STATES TREASURY NOTE/BOND 1% 09/15/2018$3,848,775
NUANCE COMMUNICATIONS INC 1% 12/15/2035$3,785,806
LIBERTY MEDIA CORP 1.375% 10/15/2023$3,726,563
BROCADE COMMUNICATIONS SYSTEMS INC 1.375% 01/01/2020$3,668,878
TIVO INC 2% 10/01/2021$3,630,225
IMPAX LABORATORIES INC 2% 06/15/2022$3,618,891
MOLINA HEALTHCARE INC 1.625% 08/15/2044$3,609,900
SYNCHRONOSS TECHNOLOGIES INC .75% 08/15/2019$3,602,781
NATIONAL HEALTH INVESTORS INC 3.25% 04/01/2021$3,547,500
HOLOGIC INC 0% 12/15/2043$3,542,025
LAM RESEARCH CORP 1.25% 05/15/2018$3,503,156
WEBMD HEALTH CORP 1.5% 12/01/2020$3,459,053
CEPHEID 1.25% 02/01/2021$3,443,678
TESLA MOTORS INC .25% 03/01/2019$3,435,700
COLONY AMERICAN HOMES 2015-1 1.398% 07/17/2032$3,409,630
INTERDIGITAL INC/PA 1.5 03/01/2020$3,357,821
J2 GLOBAL INC 3.25% 06/15/2029$3,343,030
NEDERLANDSE WATERSCHAPSBANK NV 1.25% 09/18/2017$3,311,481
PORSCHE INNOVATIVE LEASE OWNER TRUST 201 1.19% 07/23/2018$3,299,917
CREDIT SUISSE/NEW YORK NY 1.375% 05/26/2017$3,231,352
MACQUARIE INFRASTRUCTURE CORP 2.875% 07/15/2019$3,217,188
INVITATION HOMES 2014-SFR2 TRUST 1.298% 09/17/2031$3,080,599
WEBMD HEALTH CORP 2.5% 01/31/2018$3,075,300
ROVI CORP 0.5 03/01/2020$3,073,838
VERINT SYSTEMS INC 1.5% 06/01/2021$3,025,295
CARMAX AUTO OWNER TRUST 2015-2 1.37% 03/16/2020$2,987,713
GENERAL MOTORS FINANCIAL CO INC 2.4% 04/10/2018$2,900,763
STANDARD CHARTERED PLC 1.5% 09/08/2017$2,876,008
KOMMUNINVEST I SVERIGE AB 1.5 04/23/2019$2,866,705
FEDERAL HOME LOAN MORTGAGE CORP 1.125 04/15/2019$2,832,338
BECTON DICKINSON AND CO 1.45% 05/15/2017$2,815,272
HOLOGIC INC 2% 03/01/2042$2,803,675
TSMC GLOBAL LTD .95% 04/03/2016$2,760,000
ON SEMICONDUCTOR CORP 1% 12/01/2020$2,750,838
TOLL BROTHERS FINANCE CORP .5% 09/15/2032$2,744,625
WORKDAY INC .75% 07/15/2018$2,730,831
ILLUMINA INC 0% 06/15/2019$2,717,341
NEWMONT MINING CORP 1.625% 07/15/2017$2,694,640
AMGEN INC 1.25% 05/22/2017$2,665,977
SOUTHERN CALIFORNIA EDISON CO 1.845% 02/01/2022$2,625,180
MMAF EQUIPMENT FINANCE LLC 2015-A 1.39% 10/16/2019$2,624,787
UNITED STATES TREASURY NOTE/BOND 0.875% 11/30/2017$2,586,651
CHASE ISSUANCE TRUST 1.15% 01/15/2019$2,554,780
UNITED STATES TREASURY NOTE/BOND .875% 01/15/2018$2,506,690
YAHOO! INC 0% 12/01/2018$2,472,881
CEMEX SAB DE CV 3.72% 03/15/2020$2,470,200
HEALTHSOUTH CORP 2% 12/01/2043$2,420,800
CHART INDUSTRIES INC 2% 08/01/2018$2,414,117
HILTON USA TRUST 2013-HLF 1.19% 11/05/2030$2,413,585
ECHO GLOBAL LOGISTICS INC 2.5% 05/01/2020$2,413,322
ROYAL GOLD INC 2.875% 06/15/2019$2,407,931
JP MORGAN CHASE COMMERCIAL MORTGAGE SECU 1.438% 01/15/2032$2,356,448
SANDISK CORP .5% 10/15/2020$2,352,247
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 1.25% 05/23/2017$2,344,176
INTERNATIONAL LEASE FINANCE CORP 3.875% 04/15/2018$2,339,024
LIVE NATION ENTERTAINMENT INC 2.5% 05/15/2019$2,327,413
FEDERAL HOME LOAN MORTGAGE CORP 2.473% 09/01/2035$2,324,075
BANK NEDERLANDSE GEMEENTEN NV 1% 02/12/2018$2,318,112
INTEGRA LIFESCIENCES HOLDINGS CORP 1.625% 12/15/2016$2,311,775
TRADE MAPS 1 LTD .892% 12/10/2018$2,285,618
CREDIT AGRICOLE SA/LONDON 1.089% 04/15/2019$2,276,630
HEWLETT PACKARD ENTERPRISE CO 2.85% 10/05/2018$2,258,637
NUANCE COMMUNICATIONS INC 1.5% 11/01/2035$2,245,950
LINKEDIN CORP 0.5% 11/01/2019$2,185,500
PATTERN ENERGY GROUP INC 4% 07/15/2020$2,182,369
CAISSE D'AMORTISSEMENT DE LA DETTE SOCIA 1.25% 03/12/2018$2,160,969
VECTOR GROUP LTD 5.5% 04/15/2020$2,132,400
PRICELINE GROUP INC/THE 0.9% 09/15/2021$2,108,288
NVIDIA CORP 1% 12/01/2018$2,075,675
TTM TECHNOLOGIES INC 1.75% 12/15/2020$2,008,887
CHASE ISSUANCE TRUST .448% 04/15/2019$1,992,665
BP CAPITAL MARKETS PLC 1.674% 02/13/2018$1,982,924
TWITTER INC 0.25% 09/15/2019$1,972,600
BROADSOFT INC 1% 09/01/2022$1,971,197
SYNCHRONY CREDIT CARD MASTER NOTE TRUST 1.6% 04/15/2021$1,968,778
SIEMENS FINANCIERINGSMAATSCHAPPIJ NV 1.65 08/16/2019$1,967,000
GLENCORE FINANCE CANADA LTD 2.7% 10/25/2017$1,937,207
CSMC TRUST 2013-IVR2 1.55% 04/25/2043$1,926,964
BB&T CORP .96% 02/01/2019$1,918,879
BNZ INTERNATIONAL FUNDING LTD/LONDON 1.9% 02/26/2018$1,904,245
ALLY MASTER OWNER TRUST .648% 04/15/2018$1,900,019
QUALCOMM INC 1.4% 05/18/2018$1,895,122
CITIZENS BANK NA/PROVIDENCE RI 1.6% 12/04/2017$1,890,538
CAPITAL AUTO RECEIVABLES ASSET TRUST 201 1.39% 09/20/2018$1,879,901
ASIAN DEVELOPMENT BANK .75% 07/28/2017$1,875,591
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.399% 07/25/2024$1,858,107
COLONY AMERICAN HOMES 2014-2 1.137% 07/17/2031$1,833,736
DISCOVER BANK/GREENWOOD DE 2.6% 11/13/2018$1,805,612
VIPSHOP HOLDINGS LTD 1.5% 03/15/2019$1,794,463
MACQUARIE BANK LTD 1.6% 10/27/2017$1,793,725
AUSTRALIA & NEW ZEALAND BANKING GROUP LTD/NEW YORK NY 2% 11/16/2018$1,783,326
CATERPILLAR FINANCIAL SERVICES CORP 1% 03/03/2017$1,762,527
TALEN ENERGY SUPPLY LLC 4.625% 07/15/2019$1,758,088
WESTPAC BANKING CORP 1.95% 11/23/2018$1,740,289
CHEVRON CORP 1.344% 11/09/2017$1,740,276
SUNPOWER CORP 4% 01/15/2023$1,736,969
KUBOTA CREDIT OWNER TRUST 2015-1 .94% 12/15/2017$1,733,838
ACTAVIS FUNDING SCS 2.35% 03/12/2018$1,725,954
AES CORP/VA 3.283% 06/01/2019$1,722,150
ENCORE CAPITAL GROUP INC 3% 07/01/2020$1,710,253
ALLY FINANCIAL INC 3.25% 09/29/2017$1,703,588
BANK OF AMERICA CORP 1.351% 03/22/2018$1,703,468
EUROPEAN INVESTMENT BANK 1.125% 08/15/2018$1,699,665
MANUFACTURERS & TRADERS TRUST CO 1.4% 07/25/2017$1,696,716
RYLAND GROUP INC/THE .25% 06/01/2019$1,691,000
KRAFT HEINZ FOODS CO 2% 07/02/2018$1,686,374
HSBC BANK PLC .961% 05/15/2018$1,681,599
INSULET CORP 2% 06/15/2019$1,676,160
FORD MOTOR CREDIT CO LLC 1.684% 09/08/2017$1,663,686
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.141% 07/01/2041$1,659,072
ANTHEM INC 2.375% 02/15/2017$1,658,550
UBS AG/STAMFORD CT 1.8% 03/26/2018$1,656,057
BANK OF TOKYO-MITSUBISHI UFJ LTD/THE 1.45% 09/08/2017$1,654,389
SERVICENOW INC 0% 11/01/2018$1,648,509
NEWELL RUBBERMAID INC 2.15% 10/15/2018$1,641,020
DAIMLER FINANCE NORTH AMERICA LLC 1.65% 03/02/2018$1,632,412
AIRCASTLE LTD 6.75% 04/15/2017$1,630,806
ARAMARK CORP US TLE 3.25% 06/30/2016$1,629,593
ABBVIE INC 1.75% 11/06/2017$1,628,132
SUNTORY HOLDINGS LTD 1.65% 09/29/2017$1,622,879
MORGAN STANLEY 1.435% 01/27/2020$1,620,267
ZIMMER BIOMET HOLDINGS INC 2% 04/01/2018$1,594,552
INTEGRATED DEVICE TECHNOLOGY INC 0.875% 11/15/2022$1,580,741
CSG SYSTEMS INTERNATIONAL INC 4.25 03/15/2036$1,580,094
CITIGROUP INC 1.55% 08/14/2017$1,560,222
STILLWATER MINING CO 1.75 10/15/2032$1,556,031
COLONY STARWOOD HOMES 3% 07/01/2019$1,548,197
ABBEY NATIONAL TREASURY SERVICES PLC/LON 1.65% 09/29/2017$1,546,196
NABORS INDUSTRIES INC 2.35% 09/15/2016$1,544,127
CAPITAL ONE NA/MCLEAN VA 1.5% 09/05/2017$1,514,057
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.149% 05/25/2024$1,513,410
WORKDAY INC 1.5 07/15/2020$1,508,484
PROVINCE OF BRITISH COLUMBIA CANADA 1.2% 04/25/2017$1,506,311
AMTRUST FINANCIAL SERVICES INC 2.75% 12/15/2044$1,504,156
L-3 COMMUNICATIONS CORP 1.5% 05/28/2017$1,495,283
ANHEUSER-BUSCH INBEV FINANCE INC 1.9% 02/01/2019$1,471,311
MERITOR INC 7.875% 03/01/2026$1,470,606
ANHEUSER-BUSCH INBEV FINANCE INC 2.65% 02/01/2021$1,470,429
CDW LLC TERM LOAN 3.25% 06/30/2016$1,464,063
SALESFORCE.COM INC .25% 04/01/2018$1,457,000
DAIMLER FINANCE NORTH AMERICA LLC 1.375% 08/01/2017$1,454,259
TWITTER INC 1% 09/15/2021$1,444,888
MIZUHO BANK LTD 1.2431% 03/26/2018$1,443,256
AP MOELLER - MAERSK A/S 2.55% 09/22/2019$1,437,262
INTEL CORP 2.95% 12/15/2035$1,419,534
ENVESTNET INC 1.75% 12/15/2019$1,400,003
FIREEYE INC 1.625% 06/01/2035$1,398,994
AT&T INC 1.237% 11/27/2018$1,392,465
THOMSON REUTERS CORP 1.65% 09/29/2017$1,382,215
ING BANK NV 2% 11/26/2018$1,369,457
VERIZON COMMUNICATIONS INC 1.35% 06/09/2017$1,354,267
INVITATION HOMES 2015-SFR3 TRUST 1.621% 08/17/2032$1,343,488
HYUNDAI CAPITAL AMERICA 1.45% 02/06/2017$1,338,731
FANNIE MAE CONNECTICUT AVENUE SECURITIES 2.585 09/25/2028$1,322,282
EMPIRE STATE REALTY OP LP 2.625% 08/15/2019$1,315,913
SEQUOIA MORTGAGE TRUST 2013-4 1.55% 04/25/2043$1,305,944
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.799% 01/25/2024$1,304,764
JPMORGAN CHASE & CO 1.195% 01/25/2018$1,304,368
FMS WERTMANAGEMENT AOER 1.125% 09/05/2017$1,303,836
MORGAN STANLEY 2.45% 02/01/2019$1,299,817
IMPERIAL TOBACCO FINANCE PLC 2.05% 07/20/2018$1,274,115
METROPOLITAN LIFE GLOBAL FUNDING I 1.95% 12/03/2018$1,269,251
AMERICAN EXPRESS CO .919% 05/22/2018$1,261,996
COLONY CAPITAL INC 5% 04/15/2023$1,261,866
MEDICINES CO/THE 2.5% 01/15/2022$1,260,985
TOYOTA MOTOR CREDIT CORP 1.125% 05/16/2017$1,252,404
SEACOR HOLDINGS INC 2.5% 12/15/2027$1,251,716
PORSCHE FINANCIAL AUTO SECURITIZATION TR .67% 01/23/2018$1,242,955
BANK OF AMERICA CORP 1.7% 08/25/2017$1,242,094
SYNCHRONY FINANCIAL 1.875% 08/15/2017$1,241,564
GOLDMAN SACHS GROUP INC/THE 1.42% 11/15/2018$1,240,351
JOHN DEERE CAPITAL CORP 1.4% 03/15/2017$1,240,188
MORGAN STANLEY 1.034% 07/23/2019$1,231,608
INPHI CORP 1.125 12/01/2020$1,223,225
COMPASS BANK 1.85% 09/29/2017$1,222,048
CIT GROUP INC 5.25% 03/15/2018$1,218,475
CITIGROUP INC 2.05% 12/07/2018$1,215,858
STRUCTURED ASSET INVESTMENT LOAN TRUST 2 .879% 01/25/2033$1,214,595
CNH INDUSTRIAL CAPITAL LLC 3.875% 07/16/2018$1,214,510
AMERIGAS PARTNERS LP / AMERIGAS FINANCE 6.25% 08/20/2019$1,209,500
ACTAVIS FUNDING SCS 1.543% 03/12/2020$1,206,335
SUNTRUST BANK/ATLANTA GA 1.35% 02/15/2017$1,201,048
TIAA ASSET MANAGEMENT FINANCE CO LLC 2.95% 11/01/2019$1,198,553
TEVA PHARMACEUTICAL FINANCE CO LLC .25% 02/01/2026$1,195,219
COMMONWEALTH BANK OF AUSTRALIA/NEW YORK NY 1.75% 11/02/2018$1,192,216
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.138% 03/01/2036$1,190,968
SANTANDER BANK NA 2% 01/12/2018$1,190,268
BANK OF NEW YORK MELLON CORP/THE .86% 08/01/2018$1,185,562
CALAMP CORP 1.625% 05/15/2020$1,184,975
SHUTTERFLY INC 0.25 05/15/2018$1,183,688
PNC BANK NA 1.95 03/04/2019$1,161,311
INVITATION HOMES 2013-SFR1 TRUST 1.4% 12/17/2030$1,158,348
ASTORIA FINANCIAL CORP 5% 06/19/2017$1,156,063
TENET HEALTHCARE CORP 6.25% 11/01/2018$1,155,600
ALLIED IRISH BANKS PLC 2.875% 11/28/2016$1,155,412
ING BANK NV 2.3 03/22/2019$1,152,962
NISSAN MOTOR ACCEPTANCE CORP 2 03/08/2019$1,149,508
DISH DBS CORP 4.625% 07/15/2017$1,145,200
REGIONS FINANCIAL CORP 2% 05/15/2018$1,143,284
WPX ENERGY INC 5.25% 01/15/2017$1,133,550
JARDEN CORP 1.5% 06/15/2019$1,121,919
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.199% 10/25/2023$1,120,725
NCUA GUARANTEED NOTES TRUST 2010-A1 .543% 12/07/2020$1,119,893
HSBC USA INC 1.7% 03/05/2018$1,117,678
HEWLETT PACKARD ENTERPRISE CO 2.45% 10/05/2017$1,117,657
HEALTHWAYS INC 1.5% 07/01/2018$1,100,894
CNPC GENERAL CAPITAL LTD 1.209% 05/14/2017$1,100,411
ACTAVIS FUNDING SCS 1.3% 06/15/2017$1,096,423
PERRIGO CO PLC 1.3% 11/08/2016$1,095,013
ABBVIE INC 1.8% 05/14/2018$1,087,814
UNITED STATES TREASURY NOTE/BOND .5% 06/15/2016$1,085,521
SHELL INTERNATIONAL FINANCE BV 1.25% 11/10/2017$1,081,544
CIENA CORP 3.75 10/15/2018$1,062,813
BLACKSTONE MORTGAGE TRUST INC 5.25% 12/01/2018$1,061,944
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.649% 11/25/2023$1,052,198
BERKSHIRE HATHAWAY FINANCE CORP 1.7 03/15/2019$1,044,742
SHELL INTERNATIONAL FINANCE BV 1.625% 11/10/2018$1,043,541
DEVON ENERGY CORP .826% 12/15/2016$1,038,787
MITSUBISHI UFJ TRUST & BANKING CORP 1.6% 10/16/2017$1,032,819
GOLDMAN SACHS GROUP INC/THE 5.625% 01/15/2017$1,031,860
CITIGROUP INC .551% 06/09/2016$1,029,435
STANLEY BLACK & DECKER INC 2.451% 11/17/2018$1,026,238
CANADIAN NATURAL RESOURCES LTD 1.75% 01/15/2018$1,024,302
PROOFPOINT INC 1.25% 12/15/2018$1,010,419
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 1.6% 11/20/2017$1,009,694
CALIFORNIA EARTHQUAKE AUTHORITY 1.824% 07/01/2017$1,009,260
PENSKE TRUCK LEASING CO LP / PTL FINANCE 3.2% 07/15/2020$1,001,530
JACKSON NATIONAL LIFE GLOBAL FUNDING 1.25% 02/21/2017$1,001,307
PALO ALTO NETWORKS INC 0% 07/01/2019$976,172
ASHLAND INC 3.875% 04/15/2018$975,250
GLENCORE FUNDING LLC 1.649% 01/15/2019$964,650
IRONWOOD PHARMACEUTICALS INC 2.25% 06/15/2022$950,259
NRG YIELD INC 3.5% 02/01/2019$946,584
WELLS FARGO BANK NA 1.65% 01/22/2018$927,164
SUNTRUST BANK/ATLANTA GA 5.2% 01/17/2017$922,011
NATIONAL OILWELL VARCO INC 1.35% 12/01/2017$910,102
PRA GROUP INC 3% 08/01/2020$908,524
VENTAS REALTY LP 1.55% 09/26/2016$907,089
HYUNDAI CAPITAL AMERICA 2% 03/19/2018$906,791
VERIZON COMMUNICATIONS INC 1.816% 09/15/2016$904,937
ALIBABA GROUP HOLDING LTD 1.625% 11/28/2017$901,254
CALATLANTIC GROUP INC 1.625% 05/15/2018$899,456
BANCO SANTANDER CHILE 1.186% 04/11/2017$894,375
BANK OF AMERICA CORP .85% 05/02/2017$893,226
SPRINGLEAF MORTGAGE LOAN TRUST 2013-1 1.27% 06/25/2058$893,048
SBA COMMUNICATIONS CORP 5.625% 10/01/2019$890,375
MIZUHO BANK LTD 1.7% 09/25/2017$889,499
INDUSTRIAL & COMMERCIAL BANK OF CHINA LT 2.351% 11/13/2017$887,855
FORD MOTOR CREDIT CO LLC 3% 06/12/2017$881,742
FREEPORT-MCMORAN INC 2.3% 11/14/2017$881,125
JPMORGAN CHASE & CO .84% 02/15/2017$880,773
DEPOMED INC 2.5% 09/01/2021$877,852
HORIZON PHARMA INVESTMENT LTD 2.5 03/15/2022$876,583
BAXALTA INC 1.061% 06/22/2018$872,423
VERIZON COMMUNICATIONS INC 2.036% 09/14/2018$871,111
RWT HOLDINGS INC 5.625% 11/15/2019$868,453
CVS HEALTH CORP 1.9% 07/20/2018$867,964
CITIGROUP INC 2.021% 05/15/2018$862,390
EXPRESS SCRIPTS HOLDING CO 1.25% 06/02/2017$858,496
FIFTH THIRD AUTO TRUST 2014-1 .68% 04/16/2018$849,804
KEYW HOLDING CORP/THE 2.5% 07/15/2019$848,125
FIFTH THIRD BANCORP 5.45% 01/15/2017$847,227
WANT WANT CHINA FINANCE LTD 1.875% 05/14/2018$843,333
ILLUMINA INC .5% 06/15/2021$816,816
CHEVRON CORP 1.79% 11/16/2018$809,964
MOBILE MINI INC 7.875% 12/01/2020$809,250
MIZUHO BANK LTD 1.3% 04/16/2017$808,459
CENTERPOINT ENERGY TRANSITION BOND CO IV .901% 04/15/2018$805,765
GENERAL MILLS INC 1.4% 10/20/2017$804,945
ABBEY NATIONAL TREASURY SERVICES PLC/LON .796% 03/13/2017$798,944
PRUDENTIAL FINANCIAL INC 1.1% 08/15/2018$798,347
KEYBANK NA/CLEVELAND OH 2.35 03/08/2019$797,496
NCUA GUARANTEED NOTES TRUST 2010-R1 .641% 10/07/2020$792,750
CAPITAL ONE FINANCIAL CORP 6.15% 09/01/2016$785,710
FREDDIE MAC STRUCTURED AGENCY CREDIT RISK DEBT NOTES 1.5716% 05/25/2028$780,136
WEA FINANCE LLC / WESTFIELD UK & EUROPE 1.75% 09/15/2017$777,309
JOHN DEERE CAPITAL CORP 1.125% 06/12/2017$761,347
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2014-3 3.13 10/08/2020$750,053
ARAMARK SERVICES INC 5.75% 03/15/2020$742,950
GENERAL MOTORS FINANCIAL CO INC 3% 09/25/2017$737,004
REYNOLDS AMERICAN INC 2.3% 06/12/2018$734,769
SCORPIO TANKERS INC 2.375% 07/01/2019$733,997
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.149% 05/25/2024$725,175
CITIGROUP INC 1.85% 11/24/2017$721,917
NSTAR ELECTRIC CO .56% 05/17/2016$720,014
SEQUOIA MORTGAGE TRUST 2013-1 1.45% 02/25/2043$718,856
HESS CORP 1.3% 06/15/2017$701,840
NATIONWIDE BUILDING SOCIETY 2.35% 01/21/2020$700,759
CISCO SYSTEMS INC 1.6% 02/28/2019$700,262
THOMSON REUTERS CORP 1.3% 02/23/2017$698,904
APOLLO COMMERCIAL REAL ESTATE FINANCE INC 5.5% 03/15/2019$689,988
MORGAN STANLEY 6.625% 04/01/2018$688,621
CELGENE CORP 2.125% 08/15/2018$688,096
NORDEA BANK AB 1.875% 09/17/2018$682,757
HUNTINGTON NATIONAL BANK/THE 2.2% 11/06/2018$681,525
FIFTH THIRD BANK/CINCINNATI OH 2.3 03/15/2019$676,335
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.004% 06/01/2041$673,703
JP MORGAN MORTGAGE TRUST 2013-1 2.5% 03/25/2043$670,170
CAPITAL ONE NA/MCLEAN VA 1.65% 02/05/2018$665,473
CALATLANTIC GROUP INC 1.25% 08/01/2032$650,747
RYDER SYSTEM INC 2.5% 03/01/2017$626,198
CHENIERE ENERGY INC 4.25% 03/15/2045$620,975
ELECTRICITE DE FRANCE SA 1.15% 01/20/2017$618,744
ABBEY NATIONAL TREASURY SERVICES PLC/UNITED KINGDOM 2.5 03/14/2019$616,074
DUKE ENERGY CORP .664% 04/03/2017$615,935
EXXON MOBIL CORP 1.439 03/01/2018$614,527
ENBRIDGE INC .734% 06/02/2017$613,545
CAMERON INTERNATIONAL CORP 1.4% 06/15/2017$612,725
CATERPILLAR FINANCIAL SERVICES CORP 1.25% 08/18/2017$601,995
JB HUNT TRANSPORT SERVICES INC 2.4% 03/15/2019$601,852
BANK OF TOKYO-MITSUBISHI UFJ LTD/THE 1.2% 03/10/2017$599,086
GATX CORP 2.5% 07/30/2019$596,000
SPIRIT REALTY CAPITAL INC 3.75% 05/15/2021$589,756
XCEL ENERGY INC .75% 05/09/2016$579,936
AMERICAN EXPRESS CREDIT CORP 1.125% 06/05/2017$579,573
PENSKE TRUCK LEASING CO LP / PTL FINANCE 3.75% 05/11/2017$578,955
EXXON MOBIL CORP 1.708 03/01/2019$577,766
EXTRA SPACE STORAGE LP 2.375% 07/01/2033$576,300
MICRON TECHNOLOGY INC 3% 11/15/2043$573,019
CAPITAL ONE BANK USA NA 1.15% 11/21/2016$570,127
NBCUNIVERSAL ENTERPRISE INC .974% 04/15/2018$569,339
OPTION ONE MORTGAGE LOAN TRUST 2005-4 AS .459% 11/25/2035$567,943
SHELL INTERNATIONAL FINANCE BV 0.9214% 11/10/2018$565,611
BAIDU INC 2.25% 11/28/2017$564,394
GSAMP TRUST 2004-SEA2 .849% 03/25/2034$562,228
PACCAR FINANCIAL CORP .879% 12/06/2018$561,421
STRYKER CORP 2 03/08/2019$556,267
SEQUOIA MORTGAGE TRUST 2012-1 2.865% 01/25/2042$540,262
VERIZON COMMUNICATIONS INC 1.053% 06/17/2019$538,969
SEACOR HOLDINGS INC 3 11/15/2028$538,625
HUTCHISON WHAMPOA INTERNATIONAL 12 II LT 2% 11/08/2017$533,128
SYNCHRONY FINANCIAL 1.53% 02/03/2020$531,941
NEWELL RUBBERMAID INC 2.6 03/29/2019$527,939
UNITED STATES TREASURY NOTE/BOND 1.25% 12/15/2018$525,942
AVIS BUDGET CAR RENTAL LLC / AVIS BUDGET 4.875% 11/15/2017$522,081
COLONY AMERICAN HOMES 2014-1 1.4% 05/17/2031$515,792
HERTZ CORP/THE 6.75% 04/15/2019$510,529
TSMC GLOBAL LTD 1.625% 04/03/2018$507,340
AMERICAN HOMES 4 RENT 2014-SFR1 1.25% 06/17/2031$503,841
CREDIT SUISSE/NEW YORK NY 1.75% 01/29/2018$501,023
EBAY INC 2.5 03/09/2018$498,182
WALGREENS BOOTS ALLIANCE INC 1.75% 11/17/2017$491,283
AUTODESK INC 1.95% 12/15/2017$487,793
BAXALTA INC 2% 06/22/2018$486,316
COMMONWEALTH BANK OF AUSTRALIA/NEW YORK NY 2.05 03/15/2019$485,639
SPRINGLEAF MORTGAGE LOAN TRUST 2013-2 1.78% 12/25/2065$485,090
AT&T INC 5.5% 02/01/2018$482,330
FREEPORT-MCMORAN INC 2.15% 03/01/2017$480,000
NELNET STUDENT LOAN TRUST 2014-2 .479% 06/25/2021$474,499
MURPHY OIL CORP 2.5% 12/01/2017$468,950
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.249% 03/25/2025$468,225
FIDELITY NATIONAL INFORMATION SERVICES I 2% 04/15/2018$467,644
HYUNDAI CAPITAL AMERICA 2.125% 10/02/2017$466,334
KINDER MORGAN INC/DE 3.05% 12/01/2019$463,113
QBE INSURANCE GROUP LTD 2.4% 05/01/2018$461,967
MACQUARIE BANK LTD .925% 10/27/2017$448,286
KINDER MORGAN INC/DE 2% 12/01/2017$445,358
PENSKE TRUCK LEASING CO LP / PTL FINANCE 2.5% 06/15/2019$437,808
BP CAPITAL MARKETS PLC .821% 05/10/2018$434,616
CC HOLDINGS GS V LLC / CROWN CASTLE GS I 2.381% 12/15/2017$433,845
TECO FINANCE INC .883% 04/10/2018$430,991
BRITISH TELECOMMUNICATIONS PLC 1.625% 06/28/2016$430,562
SUNTRUST BANK/ATLANTA GA .761% 02/15/2017$429,019
LLOYDS BANK PLC 2.3% 11/27/2018$423,592
HUNTINGTON NATIONAL BANK/THE 1.3% 11/20/2016$420,083
WHIRLPOOL CORP 1.65% 11/01/2017$410,893
APPLE INC 1.7% 02/22/2019$406,148
ENBRIDGE INC .934% 10/01/2016$406,027
KROGER CO/THE 2.2% 01/15/2017$403,075
HUNTINGTON NATIONAL BANK/THE 1.35% 08/02/2016$400,425
FORD MOTOR CREDIT CO LLC 1.118% 03/12/2019$400,097
NCUA GUARANTEED NOTES TRUST 2011-R4 .571% 03/06/2020$392,942
BANK OF AMERICA MORTGAGE 2002-K TRUST 2.71% 10/20/2032$390,858
SYNCHRONY FINANCIAL 3% 08/15/2019$386,325
THERMO FISHER SCIENTIFIC INC 2.15% 12/14/2018$382,343
KEYBANK NA/CLEVELAND OH .819% 11/25/2016$380,178
CAPITAL AUTO RECEIVABLES ASSET TRUST / A 1.74% 10/22/2018$380,176
AMPHENOL CORP 1.55% 09/15/2017$379,468
ANZ NEW ZEALAND INT'L LTD/LONDON 1.4% 04/27/2017$371,057
CAPITAL AUTO RECEIVABLES ASSET TRUST / A 1.29% 04/20/2018$369,706
LA ARENA FUNDING LLC 7.656% 12/15/2026$368,353
SOUTHERN POWER CO 1.85% 12/01/2017$362,788
BECTON DICKINSON AND CO 1.8% 12/15/2017$361,664
JOHN DEERE CAPITAL CORP .576% 10/11/2016$360,430
BAT INTERNATIONAL FINANCE PLC .796% 06/15/2018$357,642
ELECTRICITE DE FRANCE SA .747% 01/20/2017$349,394
MEDTRONIC INC 1.5% 03/15/2018$343,026
SYSCO CORP 1.9 04/01/2019$342,330
WESTERN DIGITAL CORP 10.5 04/01/2024$341,700
NATIONAL AUSTRALIA BANK LTD 1.3% 06/30/2017$340,094
CNOOC FINANCE 2013 LTD 1.125% 05/09/2016$339,932
AUTOZONE INC 1.3% 01/13/2017$336,153
CARNIVAL CORP 1.875% 12/15/2017$321,127
PACCAR FINANCIAL CORP 1.1% 06/06/2017$320,616
HERTZ FLEET LEASE FUNDING LP .741% 12/10/2027$316,283
PHILLIPS 66 2.95% 05/01/2017$315,797
GENERAL MOTORS FINANCIAL CO INC 2.75% 05/15/2016$310,568
APPLE INC 1.3% 02/23/2018$302,411
WM WRIGLEY JR CO 2% 10/20/2017$301,352
MCKESSON CORP 1.292% 03/10/2017$300,615
FIFTH THIRD BANK/CINCINNATI OH .834% 11/18/2016$300,475
MIZUHO BANK LTD .731% 09/25/2017$300,311
KEYBANK NA/CLEVELAND OH 1.1% 11/25/2016$300,223
JOHNSON CONTROLS INC 1.4% 11/02/2017$299,747
UNITED STATES TREASURY NOTE/BOND .625% 11/30/2017$299,567
ANGLO AMERICAN CAPITAL PLC 1.239% 04/15/2016$298,925
FIDELITY NATIONAL INFORMATION SERVICES I 1.45% 06/05/2017$287,853
TESLA MOTORS INC 1.25% 03/01/2021$284,419
GREATAMERICA LEASING RECEIVABLES FUNDING 1.83% 06/17/2019$270,242
CITIZENS BANK NA/PROVIDENCE RI 2.3% 12/03/2018$261,632
LOCKHEED MARTIN CORP 1.85% 11/23/2018$254,029
WEA FINANCE LLC / WESTFIELD UK & EUROPE 2.7% 09/17/2019$251,901
SYNCHRONY FINANCIAL 2.6% 01/15/2019$240,668
VENTAS REALTY LP 1.25% 04/17/2017$229,102
UNITED STATES TREASURY NOTE/BOND .75% 10/31/2017$220,107
TRANSALTA CORP 1.9% 06/03/2017$217,369
WHITING PETROLEUM CORP 1.25 04/01/2020$202,472
COCA-COLA CO/THE 0.875% 10/27/2017$202,402
ALIBABA GROUP HOLDING LTD 2.5% 11/28/2019$202,220
SEQUOIA MORTGAGE TRUST 2012-2 3.5% 04/25/2042$201,794
BRITISH TELECOMMUNICATIONS PLC 1.25% 02/14/2017$199,967
HEARTWARE INTERNATIONAL INC 1.75% 12/15/2021$193,900
ZIMMER BIOMET HOLDINGS INC 2.7% 04/01/2020$182,692
CITIBANK CREDIT CARD ISSUANCE TRUST 1.11% 07/23/2018$170,190
SUNPOWER CORP .875% 06/01/2021$144,300
FEDERAL HOME LOAN MORTGAGE CORP 2.533% 12/01/2039$121,992
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.375% 03/01/2036$96,749
CREDIT SUISSE FIRST BOSTON MORTGAGE SECU 5% 04/25/2019$22,363
NETSUITE INC .25% 06/01/2018$21,106
SLM STUDENT LOAN TRUST 2014-1 .479% 05/28/2019$18,585
FEDERAL HOME LOAN MORTGAGE CORP .549% 04/25/2019$5,069
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$38,403,374
UNITED STATES ZERO 04/16$3,999,928
 
Other
Holding NameMarket Value
RUSSELL 2000 MINI EQUITY INDEX JUN16 (RTAM6)$10,713,523
USD$103,970
CURRENCY CONTRACT$21,670
CURRENCY CONTRACT$20,682
US 2YR NOTE (CBT) BOND JUN16 (TUM6) COMDTY$16,449
EURO$273
CURRENCY CONTRACT$-137
CURRENCY CONTRACT$-176
CURRENCY CONTRACT$-6,099
CURRENCY CONTRACT$-6,390
CURRENCY CONTRACT$-12,297
CURRENCY CONTRACT$-13,199
US 5YR NOTE (CBT) BOND JUN16 (FVM6) COMDTY$-16,418
CURRENCY CONTRACT$-42,555
CURRENCY CONTRACT$-84,626
CURRENCY CONTRACT$-90,586
USD$-10,054,355
 

Statistics

Portfolio Statistics As of Jun 30, 2016
Statistic3-Year5-Year
Beta1.130.80
Alpha-2.21-1.38
Standard Deviation6.725.58
 
 

Footnotes

1.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, financial highlights, investment objectives and strategies, risks and performance information. The prospectus contains this and other information about the investment company. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You can obtain a prospectus, statement of additional information and other information about the Vantagepoint Funds online at www.icmarc.org/vpprospectus, by calling 800-669-7400 or emailing investorservices@icmarc.org. The Vantagepoint Funds are distributed by ICMA-RC Services LLC, a wholly owned broker-dealer subsidiary of ICMA-RC and member FINRA/SIPC.

The source for this information is Morningstar, Inc. Copyright © 2016 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.