Fund Facts  

Inception Date: Oct 30, 2007
Ticker Symbol: VPDAX
Registration Date: Oct 30, 2007
Morningstar Category:Moderate Allocation
As of Mar 31, 2016
Fund Net Assets ($millions) $927

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 Mar 31, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
VP Diversifying Strategies T   -0.21%-0.21%-5.10%2.03%2.00%N/A1.84%
S&P 500 Indexa,b1.35%1.35%1.78%11.82%11.58%7.01%N/A
Diversifying Strategies Custom Benchmarkc1.84%1.84%2.32%7.39%7.67%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. Returns and/or expenses provided by Morningstar, Inc. Copyright © 2016. 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. ICMA-RC does not independently verify Morningstar data.

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 Mar 31, 2016
Period Stars Category Size
Overall 1 Stars856
3-Year 1 Stars856
5-Year 1 Stars744
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 Apr 30, 2016
Holding NamePercent
RUSSELL 2000 MINI EQUITY INDEX JUN16 (RTAM6)31.2%
UNITED STATES TREASURY NOTE/BOND 1% 08/15/20182.0%
UNITED STATES TREASURY NOTE/BOND 1% 02/15/20182.0%
UNITED STATES TREASURY NOTE/BOND .75% 02/28/20182.0%
UNITED STATES TREASURY NOTE/BOND 1% 12/31/20171.9%
FIDELITY INSTITUTIONAL MONEY MARKET1.8%
UNITED STATES ZERO 05/161.6%
UNITED STATES TREASURY NOTE/BOND .625% 05/31/20171.5%
UNITED STATES TREASURY NOTE/BOND 1 03/15/20191.2%
CITRIX SYSTEMS INC .5% 04/15/20191.1%
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
All Holdings As of Feb 29, 2016
Equity
Holding NameMarket Value
SIMON PROPERTY GROUP INC$4,613,664
AMERICAN TOWER CORP$3,193,080
ALLERGAN PLC$3,187,734
PUBLIC STORAGE$2,886,849
EQUITY RESIDENTIAL$2,133,915
TEVA PHARMACEUTICAL INDUSTRIES LTD$1,996,500
AVALONBAY COMMUNITIES INC$1,848,048
WELLTOWER INC$1,775,635
CROWN CASTLE INTERNATIONAL CORP$1,750,469
PROLOGIS INC$1,581,129
VENTAS INC$1,454,991
BOSTON PROPERTIES INC$1,374,131
KINDER MORGAN INC/DE$1,289,445
GENERAL GROWTH PROPERTIES INC$1,257,224
VORNADO REALTY TRUST$1,200,145
ESSEX PROPERTY TRUST INC$1,083,861
HCP INC$1,079,670
ALERE INC$1,031,962
DIGITAL REALTY TRUST INC$908,435
HOST HOTELS & RESORTS INC$905,143
KIMCO REALTY CORP$868,626
MACERICH CO/THE$835,955
FEDERAL REALTY INVESTMENT TRUST$807,963
EXTRA SPACE STORAGE INC$796,526
UDR INC$706,099
SL GREEN REALTY CORP$693,183
MCDERMOTT INTERNATIONAL INC$607,464
DUKE REALTY CORP$561,938
MID-AMERICA APARTMENT COMMUNITIES INC$531,096
REGENCY CENTERS CORP$520,316
CAMDEN PROPERTY TRUST$511,147
APARTMENT INVESTMENT & MANAGEMENT CO$451,072
ALEXANDRIA REAL ESTATE EQUITIES INC$448,283
EQUITY LIFESTYLE PROPERTIES INC$442,850
AMERICAN CAMPUS COMMUNITIES INC$440,633
CUBESMART$403,650
DDR CORP$400,918
KILROY REALTY CORP$390,744
TAUBMAN CENTERS INC$337,741
LIBERTY PROPERTY TRUST$333,651
HIGHWOODS PROPERTIES INC$323,925
SOVRAN SELF STORAGE INC$322,939
WEINGARTEN REALTY INVESTORS$317,000
BRIXMOR PROPERTY GROUP INC$314,267
SUN COMMUNITIES INC$305,506
DOUGLAS EMMETT INC$295,240
SENIOR HOUSING PROPERTIES TRUST$293,968
HOSPITALITY PROPERTIES TRUST$291,700
EQUITY COMMONWEALTH$263,637
DCT INDUSTRIAL TRUST INC$253,728
TANGER FACTORY OUTLET CENTERS$237,296
POST PROPERTIES INC$236,295
APPLE HOSPITALITY REIT INC$234,869
HEALTHCARE REALTY TRUST INC$231,993
SUNSTONE HOTEL INVESTORS INC$225,840
LASALLE HOTEL PROPERTIES$213,939
PIEDMONT OFFICE REALTY TRUST INC$211,622
RLJ LODGING TRUST$209,197
COLUMBIA PROPERTY TRUST INC$196,619
EQUITY ONE INC$191,788
EDUCATION REALTY TRUST INC$188,972
FIRST INDUSTRIAL REALTY TRUST INC$187,224
DUPONT FABROS TECHNOLOGY INC$181,815
ACADIA REALTY TRUST$181,808
URBAN EDGE PROPERTIES$177,414
CARE CAPITAL PROPERTIES INC$177,219
KITE REALTY GROUP TRUST$174,307
AMERICAN HOMES 4 RENT$174,244
CORPORATE OFFICE PROPERTIES TRUST$171,241
BRANDYWINE REALTY TRUST$169,878
PEBBLEBROOK HOTEL TRUST$152,585
RETAIL OPPORTUNITY INVESTMENTS CORP$144,412
PS BUSINESS PARKS INC$142,856
EASTGROUP PROPERTIES INC$139,263
DIAMONDROCK HOSPITALITY CO$138,840
MACK-CALI REALTY CORP$137,310
WASHINGTON REAL ESTATE INVESTMENT TRUST$137,111
COUSINS PROPERTIES INC$136,828
CBL & ASSOCIATES PROPERTIES INC$134,947
XENIA HOTELS & RESORTS INC$131,982
WP GLIMCHER INC$123,250
LTC PROPERTIES INC$121,366
NEW YORK REIT INC$120,000
MONOGRAM RESIDENTIAL TRUST INC$116,224
RAMCO-GERSHENSON PROPERTIES TRUST$102,480
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST$101,548
PARKWAY PROPERTIES INC/MD$84,357
FELCOR LODGING TRUST INC$74,740
INLAND REAL ESTATE CORP$74,200
HERSHA HOSPITALITY TRUST$73,978
REXFORD INDUSTRIAL REALTY INC$72,455
FRANKLIN STREET PROPERTIES CORP$65,182
ROUSE PROPERTIES INC$52,896
UNIVERSAL HEALTH REALTY INCOME TRUST$48,730
TIER REIT INC$46,800
SAUL CENTERS INC$43,004
CEDAR REALTY TRUST INC$38,931
SILVER BAY REALTY TRUST CORP$38,500
FIRST POTOMAC REALTY TRUST$38,358
ASHFORD HOSPITALITY TRUST INC$36,498
NATIONAL STORAGE AFFILIATES TRUST$32,273
NEXPOINT RESIDENTIAL TRUST INC$23,680
ASHFORD HOSPITALITY PRIME INC$19,060
 
Fixed Income
Holding NameMarket Value
UNITED STATES TREASURY NOTE/BOND 1% 02/15/2018$18,600,337
UNITED STATES TREASURY NOTE/BOND .75% 02/28/2018$18,367,926
UNITED STATES TREASURY NOTE/BOND 1% 12/31/2017$18,068,202
UNITED STATES TREASURY NOTE/BOND 1% 08/15/2018$15,852,292
UNITED STATES TREASURY NOTE/BOND .625% 09/30/2017$10,968,879
UNITED STATES TREASURY NOTE/BOND 1% 05/15/2018$9,034,632
CITRIX SYSTEMS INC .5% 04/15/2019$8,431,045
UNITED STATES TREASURY NOTE/BOND 1% 09/15/2018$7,379,282
PRICELINE GROUP INC/THE .35% 06/15/2020$7,365,938
UNITED STATES TREASURY NOTE/BOND 1.125% 06/15/2018$7,048,811
JAZZ INVESTMENTS I LTD 1.875% 08/15/2021$6,650,689
EXTRA SPACE STORAGE LP 3.125% 10/01/2035$6,643,550
SANDISK CORP .5% 10/15/2020$6,387,272
ELECTRONICS FOR IMAGING INC 0.75% 09/01/2019$6,300,088
DYCOM INDUSTRIES INC 0.75% 09/15/2021$6,248,775
CTRIP.COM INTERNATIONAL LTD 1% 07/01/2020$6,174,975
STARWOOD PROPERTY TRUST INC 4.55% 03/01/2018$5,935,066
YAHOO! INC 0% 12/01/2018$5,635,324
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1% 02/26/2019$5,215,453
RTI INTERNATIONAL METALS INC 1.625% 10/15/2019$5,113,185
INVITATION HOMES 2014-SFR1 TRUST 1.198% 06/17/2031$5,082,006
WRIGHT MEDICAL GROUP INC 2% 02/15/2020$4,942,469
BROOKDALE SENIOR LIVING INC 2.75% 06/15/2018$4,856,400
BIOMARIN PHARMACEUTICAL INC .75% 10/15/2018$4,720,728
CARDTRONICS INC 1% 12/01/2020$4,694,659
AKAMAI TECHNOLOGIES INC 0% 02/15/2019$4,676,068
RED HAT INC 0.25% 10/01/2019$4,672,500
WEB.COM GROUP INC 1% 08/15/2018$4,457,988
JARDEN CORP 1.125% 03/15/2034$4,403,910
NXP SEMICONDUCTORS NV 1% 12/01/2019$4,389,188
MEDIDATA SOLUTIONS INC 1% 08/01/2018$4,363,550
WEBMD HEALTH CORP 2.5% 01/31/2018$4,348,050
HURON CONSULTING GROUP INC 1.25% 10/01/2019$4,334,681
HOLOGIC INC 0% 12/15/2043$4,212,559
FDIC GUARANTEED NOTES TRUST 2010-S1 3.25% 04/25/2038$4,094,830
WEBMD HEALTH CORP 1.5% 12/01/2020$4,062,647
SPIRIT REALTY CAPITAL INC 2.875% 05/15/2019$3,851,370
QUALCOMM INC 1.4% 05/18/2018$3,761,608
NUANCE COMMUNICATIONS INC 1% 12/15/2035$3,741,016
EURONET WORLDWIDE INC 1.5% 10/01/2044$3,735,250
ALLSCRIPTS HEALTHCARE SOLUTIONS INC 1.25% 07/01/2020$3,715,350
ARES CAPITAL CORP 4.375% 01/15/2019$3,656,238
BROCADE COMMUNICATIONS SYSTEMS INC 1.375% 01/01/2020$3,602,088
LIBERTY MEDIA CORP 1.375% 10/15/2023$3,597,656
MICROCHIP TECHNOLOGY INC 1.625% 02/15/2025$3,573,009
HERBALIFE LTD 2% 08/15/2019$3,546,283
MOLINA HEALTHCARE INC 1.625% 08/15/2044$3,532,903
NATIONAL HEALTH INVESTORS INC 3.25% 04/01/2021$3,442,150
COLONY AMERICAN HOMES 2015-1 1.398% 07/17/2032$3,376,367
TIVO INC 2% 10/01/2021$3,317,400
NEDERLANDSE WATERSCHAPSBANK NV 1.25% 09/18/2017$3,311,573
PORSCHE INNOVATIVE LEASE OWNER TRUST 201 1.19% 07/23/2018$3,299,063
CEPHEID 1.25% 02/01/2021$3,265,847
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.399% 07/25/2024$3,229,022
LAM RESEARCH CORP 1.25% 05/15/2018$3,227,644
ROVI CORP 0.5% 03/01/2020$3,222,023
CREDIT SUISSE/NEW YORK NY 1.375% 05/26/2017$3,218,120
IMPAX LABORATORIES INC 2% 06/15/2022$3,115,781
MACQUARIE INFRASTRUCTURE CORP 2.875% 07/15/2019$3,093,938
INVITATION HOMES 2014-SFR2 TRUST 1.298% 09/17/2031$3,077,995
SYNCHRONOSS TECHNOLOGIES INC .75% 08/15/2019$3,017,097
CARMAX AUTO OWNER TRUST 2015-2 1.37% 03/16/2020$2,984,681
STANDARD CHARTERED PLC 1.5% 09/08/2017$2,869,367
TESLA MOTORS INC .25% 03/01/2019$2,864,331
GENERAL MOTORS FINANCIAL CO INC 2.4% 04/10/2018$2,850,543
BECTON DICKINSON AND CO 1.45% 05/15/2017$2,809,441
TSMC GLOBAL LTD .95% 04/03/2016$2,758,821
TOLL BROTHERS FINANCE CORP .5% 09/15/2032$2,714,716
ON SEMICONDUCTOR CORP 1% 12/01/2020$2,695,284
PROOFPOINT INC .75% 06/15/2020$2,692,375
HOLOGIC INC 2% 03/01/2042$2,690,953
VERINT SYSTEMS INC 1.5% 06/01/2021$2,683,663
AMGEN INC 1.25% 05/22/2017$2,655,161
NEWMONT MINING CORP 1.625% 07/15/2017$2,642,820
NUVASIVE INC 2.75% 07/01/2017$2,634,825
MMAF EQUIPMENT FINANCE LLC 2015-A 1.39% 10/16/2019$2,628,782
SOUTHERN CALIFORNIA EDISON CO 1.845% 02/01/2022$2,617,161
ARDAGH PACKAGING FINANCE PLC / ARDAGH HO 3.286% 12/15/2019$2,613,000
ILLUMINA INC 0% 06/15/2019$2,611,513
UNITED STATES TREASURY NOTE/BOND 0.875% 11/30/2017$2,584,234
CHASE ISSUANCE TRUST 1.15% 01/15/2019$2,555,440
INTERDIGITAL INC/PA 1.5% 03/01/2020$2,513,013
UNITED STATES TREASURY NOTE/BOND .875% 01/15/2018$2,503,710
J2 GLOBAL INC 3.25% 06/15/2029$2,456,066
HILTON USA TRUST 2013-HLF 1.19% 11/05/2030$2,417,954
FEDERAL HOME LOAN MORTGAGE CORP 2.473% 09/01/2035$2,361,176
JP MORGAN CHASE COMMERCIAL MORTGAGE SECU 1.438% 01/15/2032$2,360,859
ROYAL GOLD INC 2.875% 06/15/2019$2,354,700
HEALTHSOUTH CORP 2% 12/01/2043$2,340,560
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 1.25% 05/23/2017$2,319,325
LIVE NATION ENTERTAINMENT INC 2.5% 05/15/2019$2,317,153
BANK NEDERLANDSE GEMEENTEN NV 1% 02/12/2018$2,312,787
NUANCE COMMUNICATIONS INC 1.5% 11/01/2035$2,292,063
TRADE MAPS 1 LTD .892% 12/10/2018$2,286,653
CREDIT AGRICOLE SA/LONDON 1.089% 04/15/2019$2,270,498
WORKDAY INC .75% 07/15/2018$2,268,303
CHART INDUSTRIES INC 2% 08/01/2018$2,258,694
HEWLETT PACKARD ENTERPRISE CO 2.85% 10/05/2018$2,221,918
ECHO GLOBAL LOGISTICS INC 2.5% 05/01/2020$2,193,159
CAISSE D'AMORTISSEMENT DE LA DETTE SOCIA 1.25% 03/12/2018$2,156,940
LINKEDIN CORP 0.5% 11/01/2019$2,152,500
VECTOR GROUP LTD 5.5% 04/15/2020$2,132,400
INTEGRA LIFESCIENCES HOLDINGS CORP 1.625% 12/15/2016$2,124,875
PRICELINE GROUP INC/THE 0.9% 09/15/2021$2,116,125
BANQUE FEDERATIVE DU CREDIT MUTUEL SA 1.144% 10/28/2016$2,104,099
PATTERN ENERGY GROUP INC 4% 07/15/2020$2,014,794
CHASE ISSUANCE TRUST .448% 04/15/2019$1,990,568
TWITTER INC 0.25% 09/15/2019$1,971,200
SYNCHRONY CREDIT CARD MASTER NOTE TRUST 1.6% 04/15/2021$1,971,037
BP CAPITAL MARKETS PLC 1.674% 02/13/2018$1,956,392
TTM TECHNOLOGIES INC 1.75% 12/15/2020$1,954,214
CSMC TRUST 2013-IVR2 1.55% 04/25/2043$1,942,545
BB&T CORP .96% 02/01/2019$1,913,300
GLENCORE FINANCE CANADA LTD 2.7% 10/25/2017$1,907,593
KUBOTA CREDIT OWNER TRUST 2015-1 .94% 12/15/2017$1,904,909
ALLY MASTER OWNER TRUST .648% 04/15/2018$1,899,717
BNZ INTERNATIONAL FUNDING LTD/LONDON 1.9% 02/26/2018$1,894,127
CAPITAL AUTO RECEIVABLES ASSET TRUST 201 1.39% 09/20/2018$1,882,003
CITIZENS BANK NA/PROVIDENCE RI 1.6% 12/04/2017$1,879,360
ASIAN DEVELOPMENT BANK .75% 07/28/2017$1,876,138
STARWOOD PROPERTY TRUST INC 4% 01/15/2019$1,862,113
INTERNATIONAL LEASE FINANCE CORP 3.875% 04/15/2018$1,827,963
BARCLAYS BANK PLC .901% 02/17/2017$1,825,769
COLONY AMERICAN HOMES 2014-2 1.137% 07/17/2031$1,821,575
SIEMENS FINANCIERINGSMAATSCHAPPIJ NV 1.05% 08/16/2017$1,816,938
NVIDIA CORP 1% 12/01/2018$1,814,063
DISCOVER BANK/GREENWOOD DE 2.6% 11/13/2018$1,799,224
MACQUARIE BANK LTD 1.6% 10/27/2017$1,787,413
AUSTRALIA & NEW ZEALAND BANKING GROUP LTD/NEW YORK NY 2% 11/16/2018$1,775,682
SUNPOWER CORP 4% 01/15/2023$1,772,134
CHEVRON CORP 1.344% 11/09/2017$1,726,473
WESTPAC BANKING CORP 1.95% 11/23/2018$1,721,226
ACTAVIS FUNDING SCS 2.35% 03/12/2018$1,716,314
ARAMARK CORP US TLE 3.25% 03/31/2016$1,712,068
FORD MOTOR CREDIT CO LLC 4.25% 02/03/2017$1,711,711
ALLY FINANCIAL INC 3.25% 09/29/2017$1,707,863
BANK OF AMERICA CORP 1.351% 03/22/2018$1,702,934
KROGER CO/THE .818% 10/17/2016$1,701,301
VIPSHOP HOLDINGS LTD 1.5% 03/15/2019$1,699,809
EUROPEAN INVESTMENT BANK 1.125% 08/15/2018$1,697,370
AES CORP/VA 3.283% 06/01/2019$1,695,450
MANUFACTURERS & TRADERS TRUST CO 1.4% 07/25/2017$1,694,130
HSBC BANK PLC .961% 05/15/2018$1,679,465
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.141% 07/01/2041$1,673,119
BLUCORA INC 4.25% 04/01/2019$1,671,700
SPIRIT REALTY CAPITAL INC 3.75% 05/15/2021$1,670,996
KRAFT HEINZ FOODS CO 2% 07/02/2018$1,668,995
RYLAND GROUP INC/THE .25% 06/01/2019$1,657,750
ANTHEM INC 2.375% 02/15/2017$1,657,667
BANK OF TOKYO-MITSUBISHI UFJ LTD/THE 1.45% 09/08/2017$1,654,349
UBS AG/STAMFORD CT 1.8% 03/26/2018$1,652,173
FORD MOTOR CREDIT CO LLC 1.684% 09/08/2017$1,646,137
INSULET CORP 2% 06/15/2019$1,635,120
TALEN ENERGY SUPPLY LLC 4.625% 07/15/2019$1,632,150
ENCORE CAPITAL GROUP INC 3% 07/01/2020$1,627,566
ACORDA THERAPEUTICS INC 1.75% 06/15/2021$1,626,708
MORGAN STANLEY 1.435% 01/27/2020$1,622,931
NEWELL RUBBERMAID INC 2.15% 10/15/2018$1,621,922
ABBVIE INC 1.75% 11/06/2017$1,619,389
SUNTORY HOLDINGS LTD 1.65% 09/29/2017$1,615,389
DAIMLER FINANCE NORTH AMERICA LLC 1.65% 03/02/2018$1,614,360
ZIMMER BIOMET HOLDINGS INC 2% 04/01/2018$1,583,863
RWT HOLDINGS INC 5.625% 11/15/2019$1,579,225
CITIGROUP INC 1.55% 08/14/2017$1,552,206
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.149% 05/25/2024$1,546,434
ABBEY NATIONAL TREASURY SERVICES PLC/LON 1.65% 09/29/2017$1,542,275
NABORS INDUSTRIES INC 2.35% 09/15/2016$1,534,531
NOMURA HOLDINGS INC 1.736% 09/13/2016$1,513,215
CAPITAL ONE NA/MCLEAN VA 1.5% 09/05/2017$1,508,585
PROVINCE OF BRITISH COLUMBIA CANADA 1.2% 04/25/2017$1,505,412
BPCE SA 1.545% 04/25/2016$1,502,310
L-3 COMMUNICATIONS CORP 1.5% 05/28/2017$1,480,343
PORSCHE FINANCIAL AUTO SECURITIZATION TR .67% 01/23/2018$1,477,954
APOLLO COMMERCIAL REAL ESTATE FINANCE INC 5.5% 03/15/2019$1,469,007
ANHEUSER-BUSCH INBEV FINANCE INC 1.9% 02/01/2019$1,464,254
ANHEUSER-BUSCH INBEV FINANCE INC 2.65% 02/01/2021$1,455,282
CDW LLC TERM LOAN 3.25% 03/31/2016$1,454,166
AMTRUST FINANCIAL SERVICES INC 2.75% 12/15/2044$1,446,122
MIZUHO BANK LTD 1.2431% 03/26/2018$1,444,805
FOREST CITY ENTERPRISES INC 3.625% 08/15/2020$1,443,194
TWITTER INC 1% 09/15/2021$1,442,744
DAIMLER FINANCE NORTH AMERICA LLC 1.375% 08/01/2017$1,441,113
CREDIT AGRICOLE SA 1.133% 10/03/2016$1,422,964
CVS HEALTH CORP 1.9% 07/20/2018$1,420,499
MERITOR INC 7.875% 03/01/2026$1,415,349
SALESFORCE.COM INC .25% 04/01/2018$1,404,125
AP MOELLER - MAERSK A/S 2.55% 09/22/2019$1,403,475
SEACOR HOLDINGS INC 2.5% 12/15/2027$1,399,588
AT&T INC 1.237% 11/27/2018$1,392,525
THOMSON REUTERS CORP 1.65% 09/29/2017$1,374,628
ING BANK NV 2% 11/26/2018$1,362,166
FIREEYE INC 1.625% 06/01/2035$1,355,175
VERIZON COMMUNICATIONS INC 1.35% 06/09/2017$1,349,210
ENVESTNET INC 1.75% 12/15/2019$1,341,459
DEPOMED INC 2.5% 09/01/2021$1,339,906
HYUNDAI CAPITAL AMERICA 1.45% 02/06/2017$1,335,843
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.799% 01/25/2024$1,332,231
INVITATION HOMES 2015-SFR3 TRUST 1.621% 08/17/2032$1,328,385
SEQUOIA MORTGAGE TRUST 2013-4 1.55% 04/25/2043$1,319,682
CALAMP CORP 1.625% 05/15/2020$1,304,750
FMS WERTMANAGEMENT AOER 1.125% 09/05/2017$1,303,437
JPMORGAN CHASE & CO 1.195% 01/25/2018$1,299,977
COLONY CAPITAL INC 5% 04/15/2023$1,297,078
MORGAN STANLEY 2.45% 02/01/2019$1,287,069
MEDICINES CO/THE 2.5% 01/15/2022$1,267,929
IMPERIAL TOBACCO FINANCE PLC 2.05% 07/20/2018$1,264,623
AMERICAN EXPRESS CO .919% 05/22/2018$1,260,161
FMS WERTMANAGEMENT AOER .625% 01/30/2017$1,257,980
INTEGRATED DEVICE TECHNOLOGY INC 0.875% 11/15/2022$1,257,081
METROPOLITAN LIFE GLOBAL FUNDING I 1.95% 12/03/2018$1,256,028
TOYOTA MOTOR CREDIT CORP 1.125% 05/16/2017$1,252,009
INSTITUTO DE CREDITO OFICIAL 1.125% 04/01/2016$1,238,849
BANK OF AMERICA CORP 1.7% 08/25/2017$1,234,678
GOLDMAN SACHS GROUP INC/THE 1.42% 11/15/2018$1,233,650
SYNCHRONY FINANCIAL 1.875% 08/15/2017$1,231,850
BROADSOFT INC 1% 09/01/2022$1,230,338
STRUCTURED ASSET INVESTMENT LOAN TRUST 2 .879% 01/25/2033$1,229,953
MORGAN STANLEY 1.034% 07/23/2019$1,229,838
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.138% 03/01/2036$1,226,006
CEMEX SAB DE CV 3.72% 03/15/2020$1,220,325
ILLUMINA INC .5% 06/15/2021$1,215,825
CIT GROUP INC 5.25% 03/15/2018$1,211,719
COMPASS BANK 1.85% 09/29/2017$1,204,651
CITIGROUP INC 2.05% 12/07/2018$1,203,477
ACTAVIS FUNDING SCS 1.543% 03/12/2020$1,202,888
CNH INDUSTRIAL CAPITAL LLC 3.875% 07/16/2018$1,201,700
SUNTRUST BANK/ATLANTA GA 1.35% 02/15/2017$1,198,825
TEVA PHARMACEUTICAL FINANCE CO LLC .25% 02/01/2026$1,192,044
TIAA ASSET MANAGEMENT FINANCE CO LLC 2.95% 11/01/2019$1,186,870
BANK OF NEW YORK MELLON CORP/THE .86% 08/01/2018$1,185,692
COMMONWEALTH BANK OF AUSTRALIA/NEW YORK NY 1.75% 11/02/2018$1,185,637
SANTANDER BANK NA 2% 01/12/2018$1,177,981
AMERIGAS PARTNERS LP / AMERIGAS FINANCE 6.25% 08/20/2019$1,174,100
GLENCORE FUNDING LLC 1.649% 01/15/2019$1,166,775
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.199% 10/25/2023$1,151,792
INVITATION HOMES 2013-SFR1 TRUST 1.4% 12/17/2030$1,150,416
COLONY STARWOOD HOMES 3% 07/01/2019$1,150,022
ASTORIA FINANCIAL CORP 5% 06/19/2017$1,148,067
DISH DBS CORP 4.625% 07/15/2017$1,148,000
MICRON TECHNOLOGY INC 3% 11/15/2043$1,147,388
TENET HEALTHCARE CORP 6.25% 11/01/2018$1,142,100
REGIONS FINANCIAL CORP 2% 05/15/2018$1,140,412
WPX ENERGY INC 5.25% 01/15/2017$1,127,825
NCUA GUARANTEED NOTES TRUST 2010-A1 .543% 12/07/2020$1,120,636
HSBC USA INC 1.7% 03/05/2018$1,112,002
HEWLETT PACKARD ENTERPRISE CO 2.45% 10/05/2017$1,108,847
ALLIED IRISH BANKS PLC 2.875% 11/28/2016$1,104,178
PENSKE TRUCK LEASING CO LP / PTL FINANCE 2.5% 03/15/2016$1,100,458
CNPC GENERAL CAPITAL LTD 1.209% 05/14/2017$1,098,188
ACTAVIS FUNDING SCS 1.3% 06/15/2017$1,094,589
PERRIGO CO PLC 1.3% 11/08/2016$1,093,785
HEALTHWAYS INC 1.5% 07/01/2018$1,091,184
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.649% 11/25/2023$1,082,803
ABBVIE INC 1.8% 05/14/2018$1,077,534
SHELL INTERNATIONAL FINANCE BV 1.25% 11/10/2017$1,074,569
WINDSTREAM SERVICES LLC 7.875% 11/01/2017$1,041,975
INTEL CORP 2.95% 12/15/2035$1,036,688
BLACKSTONE MORTGAGE TRUST INC 5.25% 12/01/2018$1,035,300
MITSUBISHI UFJ TRUST & BANKING CORP 1.6% 10/16/2017$1,034,213
GOLDMAN SACHS GROUP INC/THE 5.625% 01/15/2017$1,033,130
DEVON ENERGY CORP .826% 12/15/2016$1,032,642
CITIGROUP INC .551% 06/09/2016$1,028,448
SHELL INTERNATIONAL FINANCE BV 1.625% 11/10/2018$1,024,997
STANLEY BLACK & DECKER INC 2.451% 11/17/2018$1,022,465
JARDEN CORP 1.5% 06/15/2019$1,018,806
CALIFORNIA EARTHQUAKE AUTHORITY 1.824% 07/01/2017$1,007,280
JACKSON NATIONAL LIFE GLOBAL FUNDING 1.25% 02/21/2017$999,590
EMPIRE STATE REALTY OP LP 2.625% 08/15/2019$998,731
ABBEY NATIONAL TREASURY SERVICES PLC/LON 1.375% 03/13/2017$998,233
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 1.6% 11/20/2017$997,302
AIRCASTLE LTD 6.75% 04/15/2017$995,588
PENSKE TRUCK LEASING CO LP / PTL FINANCE 3.2% 07/15/2020$993,336
ASHLAND INC 3.875% 04/15/2018$974,075
FIFTH THIRD AUTO TRUST 2014-1 .68% 04/16/2018$963,538
CANADIAN NATURAL RESOURCES LTD 1.75% 01/15/2018$960,026
CATERPILLAR FINANCIAL SERVICES CORP 1% 03/03/2017$959,138
SPRINGLEAF MORTGAGE LOAN TRUST 2013-1 1.27% 06/25/2058$937,376
WELLS FARGO BANK NA 1.65% 01/22/2018$924,034
SUNTRUST BANK/ATLANTA GA 5.2% 01/17/2017$920,953
PROOFPOINT INC 1.25% 12/15/2018$920,719
VENTAS REALTY LP 1.55% 09/26/2016$906,529
NRG YIELD INC 3.5% 02/01/2019$905,756
VERIZON COMMUNICATIONS INC 1.816% 09/15/2016$904,891
SERVICENOW INC 0% 11/01/2018$904,466
HORIZON PHARMA INVESTMENT LTD 2.5% 03/15/2022$902,158
NATIONAL OILWELL VARCO INC 1.35% 12/01/2017$901,781
BANCO SANTANDER CHILE 1.186% 04/11/2017$897,750
PALO ALTO NETWORKS INC 0% 07/01/2019$896,484
HYUNDAI CAPITAL AMERICA 2% 03/19/2018$896,419
ALIBABA GROUP HOLDING LTD 1.625% 11/28/2017$895,694
BANK OF AMERICA CORP .85% 05/02/2017$892,312
MIZUHO BANK LTD 1.7% 09/25/2017$887,388
SBA COMMUNICATIONS CORP 5.625% 10/01/2019$887,188
INDUSTRIAL & COMMERCIAL BANK OF CHINA LT 2.351% 11/13/2017$887,143
NETSUITE INC .25% 06/01/2018$886,538
BAXALTA INC 1.061% 06/22/2018$881,913
JPMORGAN CHASE & CO .84% 02/15/2017$879,236
FORD MOTOR CREDIT CO LLC 3% 06/12/2017$878,524
FREEPORT-MCMORAN INC 2.3% 11/14/2017$874,000
IRONWOOD PHARMACEUTICALS INC 2.25% 06/15/2022$870,047
WALGREENS BOOTS ALLIANCE INC .774% 05/18/2016$869,977
VERIZON COMMUNICATIONS INC 2.036% 09/14/2018$864,344
CITIGROUP INC 2.021% 05/15/2018$859,021
CALATLANTIC GROUP INC 1.625% 05/15/2018$858,113
EXPRESS SCRIPTS HOLDING CO 1.25% 06/02/2017$855,808
FIFTH THIRD BANCORP 5.45% 01/15/2017$854,058
PRA GROUP INC 3% 08/01/2020$846,209
WANT WANT CHINA FINANCE LTD 1.875% 05/14/2018$839,643
UNITED STATES TREASURY NOTE/BOND .625% 05/31/2017$838,884
KEYW HOLDING CORP/THE 2.5% 07/15/2019$829,688
SABMILLER HOLDINGS INC 2.45% 01/15/2017$816,474
MIZUHO BANK LTD 1.3% 04/16/2017$807,542
CENTERPOINT ENERGY TRANSITION BOND CO IV .901% 04/15/2018$805,523
NCUA GUARANTEED NOTES TRUST 2010-R1 .641% 10/07/2020$805,017
GENERAL MILLS INC 1.4% 10/20/2017$800,482
ABBEY NATIONAL TREASURY SERVICES PLC/LON .796% 03/13/2017$797,994
MOBILE MINI INC 7.875% 12/01/2020$797,550
PRUDENTIAL FINANCIAL INC 1.1% 08/15/2018$797,385
CHEVRON CORP 1.79% 11/16/2018$796,360
CAPITAL ONE FINANCIAL CORP 6.15% 09/01/2016$787,645
FREDDIE MAC STRUCTURED AGENCY CREDIT RISK DEBT NOTES 1.5716% 05/25/2028$787,382
ABN AMRO BANK NV 1.094% 10/28/2016$781,264
WEA FINANCE LLC / WESTFIELD UK & EUROPE 1.75% 09/15/2017$774,568
JOHN DEERE CAPITAL CORP 1.125% 06/12/2017$759,615
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.149% 05/25/2024$749,595
ARAMARK SERVICES INC 5.75% 03/15/2020$744,750
GENERAL MOTORS FINANCIAL CO INC 3% 09/25/2017$731,198
REYNOLDS AMERICAN INC 2.3% 06/12/2018$728,099
SEQUOIA MORTGAGE TRUST 2013-1 1.45% 02/25/2043$727,487
NSTAR ELECTRIC CO .56% 05/17/2016$719,114
CITIGROUP INC 1.85% 11/24/2017$718,487
RESTORATION HARDWARE HOLDINGS INC 0% 06/15/2019$714,384
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.004% 06/01/2041$704,633
BPCE SA .891% 06/23/2017$699,215
THOMSON REUTERS CORP 1.3% 02/23/2017$697,774
CISCO SYSTEMS INC 1.6% 02/28/2019$694,416
NATIONWIDE BUILDING SOCIETY 2.35% 01/21/2020$692,185
MORGAN STANLEY 6.625% 04/01/2018$685,804
CELGENE CORP 2.125% 08/15/2018$683,477
NORDEA BANK AB 1.875% 09/17/2018$679,750
HUNTINGTON NATIONAL BANK/THE 2.2% 11/06/2018$677,560
JP MORGAN MORTGAGE TRUST 2013-1 2.5% 03/25/2043$677,026
HESS CORP 1.3% 06/15/2017$676,590
CAPITAL ONE NA/MCLEAN VA 1.65% 02/05/2018$661,732
CALATLANTIC GROUP INC 1.25% 08/01/2032$638,447
RYDER SYSTEM INC 2.5% 03/01/2017$624,367
ELECTRICITE DE FRANCE SA 1.15% 01/20/2017$618,763
DUKE ENERGY CORP .664% 04/03/2017$615,631
CHENIERE ENERGY INC 4.25% 03/15/2045$612,125
ENBRIDGE INC .734% 06/02/2017$611,828
CAMERON INTERNATIONAL CORP 1.4% 06/15/2017$609,936
JB HUNT TRANSPORT SERVICES INC 2.4% 03/15/2019$601,798
CATERPILLAR FINANCIAL SERVICES CORP 1.25% 08/18/2017$599,663
BANK OF TOKYO-MITSUBISHI UFJ LTD/THE 1.2% 03/10/2017$598,369
GATX CORP 2.5% 07/30/2019$592,449
GSAMP TRUST 2004-SEA2 .849% 03/25/2034$586,112
COCA-COLA CO/THE 0.875% 10/27/2017$583,069
DAIMLER FINANCE NORTH AMERICA LLC .98% 08/01/2016$579,984
XCEL ENERGY INC .75% 05/09/2016$579,672
PENSKE TRUCK LEASING CO LP / PTL FINANCE 3.75% 05/11/2017$579,585
AMERICAN EXPRESS CREDIT CORP 1.125% 06/05/2017$577,693
TESLA MOTORS INC 1.25% 03/01/2021$577,156
OPTION ONE MORTGAGE LOAN TRUST 2005-4 AS .459% 11/25/2035$571,496
CAPITAL ONE BANK USA NA 1.15% 11/21/2016$569,302
NBCUNIVERSAL ENTERPRISE INC .974% 04/15/2018$568,606
HEALTH CARE REIT INC 3.625% 03/15/2016$564,490
BAIDU INC 2.25% 11/28/2017$562,359
PACCAR FINANCIAL CORP .879% 12/06/2018$561,424
SHELL INTERNATIONAL FINANCE BV 0.9214% 11/10/2018$560,226
SEQUOIA MORTGAGE TRUST 2012-1 2.865% 01/25/2042$559,620
VERIZON COMMUNICATIONS INC 1.053% 06/17/2019$532,947
HUTCHISON WHAMPOA INTERNATIONAL 12 II LT 2% 11/08/2017$532,262
SYNCHRONY FINANCIAL 1.53% 02/03/2020$528,781
UNITED STATES TREASURY NOTE/BOND 1.25% 12/15/2018$525,220
AVIS BUDGET CAR RENTAL LLC / AVIS BUDGET 4.875% 11/15/2017$522,725
NELNET STUDENT LOAN TRUST 2014-2 .479% 06/25/2021$512,192
COLONY AMERICAN HOMES 2014-1 1.4% 05/17/2031$511,997
JPMORGAN CHASE & CO 1.35% 02/15/2017$510,320
TSMC GLOBAL LTD 1.625% 04/03/2018$503,760
SPRINGLEAF MORTGAGE LOAN TRUST 2013-2 1.78% 12/25/2065$503,431
SCORPIO TANKERS INC 2.375% 07/01/2019$503,147
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.249% 03/25/2025$503,038
HERTZ CORP/THE 6.75% 04/15/2019$502,055
AMERICAN HOMES 4 RENT 2014-SFR1 1.25% 06/17/2031$501,172
CREDIT SUISSE/NEW YORK NY 1.75% 01/29/2018$497,038
WALGREENS BOOTS ALLIANCE INC 1.75% 11/17/2017$489,559
AUTODESK INC 1.95% 12/15/2017$486,332
EXTRA SPACE STORAGE LP 2.375% 07/01/2033$486,281
BAXALTA INC 2% 06/22/2018$480,843
AT&T INC 5.5% 02/01/2018$479,838
FREEPORT-MCMORAN INC 2.15% 03/01/2017$477,500
GEORGIA POWER CO .606% 03/15/2016$469,983
FIDELITY NATIONAL INFORMATION SERVICES I 2% 04/15/2018$467,002
HYUNDAI CAPITAL AMERICA 2.125% 10/02/2017$465,484
QBE INSURANCE GROUP LTD 2.4% 05/01/2018$460,861
SUMITOMO MITSUI BANKING CORP .962% 07/19/2016$450,644
MACQUARIE BANK LTD .925% 10/27/2017$447,350
KINDER MORGAN INC/DE 2% 12/01/2017$437,396
JOHN DEERE CAPITAL CORP 1.4% 03/15/2017$434,402
PENSKE TRUCK LEASING CO LP / PTL FINANCE 2.5% 06/15/2019$434,037
TECO FINANCE INC .883% 04/10/2018$433,997
CC HOLDINGS GS V LLC / CROWN CASTLE GS I 2.381% 12/15/2017$432,337
KINDER MORGAN INC/DE 3.05% 12/01/2019$430,923
BRITISH TELECOMMUNICATIONS PLC 1.625% 06/28/2016$430,732
BP CAPITAL MARKETS PLC .821% 05/10/2018$429,696
SUNTRUST BANK/ATLANTA GA .761% 02/15/2017$428,565
LLOYDS BANK PLC 2.3% 11/27/2018$421,624
HUNTINGTON NATIONAL BANK/THE 1.3% 11/20/2016$420,118
GRIFFON CORP 4% 01/15/2017$419,025
MURPHY OIL CORP 2.5% 12/01/2017$415,450
NCUA GUARANTEED NOTES TRUST 2011-R4 .571% 03/06/2020$409,440
WHIRLPOOL CORP 1.65% 11/01/2017$409,027
ENBRIDGE INC .934% 10/01/2016$406,139
APPLE INC 1.7% 02/22/2019$403,668
KROGER CO/THE 2.2% 01/15/2017$403,204
HUNTINGTON NATIONAL BANK/THE 1.35% 08/02/2016$400,330
FORD MOTOR CREDIT CO LLC 1.118% 03/12/2019$396,958
BANK OF AMERICA MORTGAGE 2002-K TRUST 2.71% 10/20/2032$392,970
UNITED STATES TREASURY NOTE/BOND .5% 06/15/2016$385,122
SYNCHRONY FINANCIAL 3% 08/15/2019$380,879
THERMO FISHER SCIENTIFIC INC 2.15% 12/14/2018$380,397
CAPITAL AUTO RECEIVABLES ASSET TRUST / A 1.74% 10/22/2018$380,100
KEYBANK NA/CLEVELAND OH .819% 11/25/2016$379,788
AMPHENOL CORP 1.55% 09/15/2017$379,117
CAPITAL AUTO RECEIVABLES ASSET TRUST / A 1.29% 04/20/2018$369,601
ANZ NEW ZEALAND INT'L LTD/LONDON 1.4% 04/27/2017$369,424
LA ARENA FUNDING LLC 7.656% 12/15/2026$369,384
BECTON DICKINSON AND CO 1.8% 12/15/2017$360,593
JOHN DEERE CAPITAL CORP .576% 10/11/2016$360,234
SOUTHERN POWER CO 1.85% 12/01/2017$360,203
BAT INTERNATIONAL FINANCE PLC .796% 06/15/2018$358,220
ELECTRICITE DE FRANCE SA .747% 01/20/2017$349,496
NRG YIELD INC 3.25% 06/01/2020$344,925
HERTZ FLEET LEASE FUNDING LP .741% 12/10/2027$342,711
MEDTRONIC INC 1.5% 03/15/2018$340,911
NATIONAL AUSTRALIA BANK LTD 1.3% 06/30/2017$340,054
CNOOC FINANCE 2013 LTD 1.125% 05/09/2016$339,745
AUTOZONE INC 1.3% 01/13/2017$335,186
CARNIVAL CORP 1.875% 12/15/2017$320,415
PACCAR FINANCIAL CORP 1.1% 06/06/2017$319,613
PHILLIPS 66 2.95% 05/01/2017$313,972
GENERAL MOTORS FINANCIAL CO INC 2.75% 05/15/2016$311,085
APPLE INC 1.3% 02/23/2018$301,292
WM WRIGLEY JR CO 2% 10/20/2017$300,819
FIFTH THIRD BANK/CINCINNATI OH .834% 11/18/2016$300,283
MCKESSON CORP 1.292% 03/10/2017$299,809
KEYBANK NA/CLEVELAND OH 1.1% 11/25/2016$299,698
UNITED STATES TREASURY NOTE/BOND .625% 11/30/2017$299,156
MIZUHO BANK LTD .731% 09/25/2017$298,838
JOHNSON CONTROLS INC 1.4% 11/02/2017$298,693
ANGLO AMERICAN CAPITAL PLC 1.239% 04/15/2016$295,669
FIDELITY NATIONAL INFORMATION SERVICES I 1.45% 06/05/2017$286,964
HEARTWARE INTERNATIONAL INC 1.75% 12/15/2021$273,000
GREATAMERICA LEASING RECEIVABLES FUNDING 1.83% 06/17/2019$270,194
CITIZENS BANK NA/PROVIDENCE RI 2.3% 12/03/2018$260,478
ERAC USA FINANCE LLC 1.4% 04/15/2016$260,114
BECTON DICKINSON AND CO .736% 06/15/2016$259,991
LOCKHEED MARTIN CORP 1.85% 11/23/2018$252,762
WEA FINANCE LLC / WESTFIELD UK & EUROPE 2.7% 09/17/2019$249,743
SYNCHRONY FINANCIAL 2.6% 01/15/2019$238,326
VENTAS REALTY LP 1.25% 04/17/2017$228,190
SEQUOIA MORTGAGE TRUST 2012-2 3.5% 04/25/2042$223,242
TRANSALTA CORP 1.9% 06/03/2017$211,220
BRITISH TELECOMMUNICATIONS PLC 1.25% 02/14/2017$199,793
ALIBABA GROUP HOLDING LTD 2.5% 11/28/2019$198,879
NUANCE COMMUNICATIONS INC 2.75% 11/01/2031$198,625
ZIMMER BIOMET HOLDINGS INC 2.7% 04/01/2020$180,352
CITIBANK CREDIT CARD ISSUANCE TRUST 1.11% 07/23/2018$170,164
SUNPOWER CORP .875% 06/01/2021$144,647
FEDERAL HOME LOAN MORTGAGE CORP 2.533% 12/01/2039$122,474
RESTORATION HARDWARE HOLDINGS INC 0% 07/15/2020$119,638
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.375% 03/01/2036$102,962
SLM STUDENT LOAN TRUST 2014-1 .479% 05/28/2019$51,050
CREDIT SUISSE FIRST BOSTON MORTGAGE SECU 5% 04/25/2019$23,094
FEDERAL HOME LOAN MORTGAGE CORP .549% 04/25/2019$5,298
NCUA GUARANTEED NOTES TRUST 2010-R1 1.84% 10/07/2020$1,177
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$27,642,573
 
Other
Holding NameMarket Value
USD - FOR FUTURES$24,443,737
CURRENCY CONTRACT$46,204
CURRENCY CONTRACT$44,098
CURRENCY CONTRACT$18,443
EURO$261
US 2YR NOTE (CBT) BOND JUN16 (TUM6) COMDTY$-2,696
US 5YR NOTE (CBT) BOND JUN16 (FVM6) COMDTY$-8,691
CURRENCY CONTRACT$-82,906
CURRENCY CONTRACT$-83,436
CURRENCY CONTRACT$-88,745
CURRENCY CONTRACT$-89,555
USD$-1,338,017
RUSSELL 2000 MINI EQUITY INDEX MAR18 (RTAH6)$-24,062,445
All Holdings As of Jan 31, 2016
Equity
Holding NameMarket Value
SIMON PROPERTY GROUP INC$4,510,770
ALLERGAN PLC$3,129,357
AMERICAN TOWER CORP$3,051,375
PUBLIC STORAGE$2,914,419
EQUITY RESIDENTIAL$2,199,378
TEVA PHARMACEUTICAL INDUSTRIES LTD$2,149,048
AVALONBAY COMMUNITIES INC$1,839,059
CROWN CASTLE INTERNATIONAL CORP$1,746,185
WELLTOWER INC$1,725,050
ALERE INC$1,689,290
PROLOGIS INC$1,622,651
VENTAS INC$1,445,844
BOSTON PROPERTIES INC$1,399,052
HCP INC$1,311,810
GENERAL GROWTH PROPERTIES INC$1,280,979
VORNADO REALTY TRUST$1,229,329
ESSEX PROPERTY TRUST INC$1,103,697
DIGITAL REALTY TRUST INC$920,039
KIMCO REALTY CORP$882,914
EXTRA SPACE STORAGE INC$873,617
FEDERAL REALTY INVESTMENT TRUST$823,079
HOST HOTELS & RESORTS INC$818,826
MACERICH CO/THE$816,658
SL GREEN REALTY CORP$752,978
UDR INC$732,015
MID-AMERICA APARTMENT COMMUNITIES INC$554,007
DUKE REALTY CORP$546,992
REGENCY CENTERS CORP$533,659
CAMDEN PROPERTY TRUST$521,816
MCDERMOTT INTERNATIONAL INC$508,716
APARTMENT INVESTMENT & MANAGEMENT CO$482,367
ALEXANDRIA REAL ESTATE EQUITIES INC$448,396
CUBESMART$422,415
EQUITY LIFESTYLE PROPERTIES INC$416,087
DDR CORP$403,796
KILROY REALTY CORP$402,264
AMERICAN CAMPUS COMMUNITIES INC$374,187
BRIXMOR PROPERTY GROUP INC$350,293
LIBERTY PROPERTY TRUST$338,734
TAUBMAN CENTERS INC$332,112
SOVRAN SELF STORAGE INC$321,025
DOUGLAS EMMETT INC$318,251
HIGHWOODS PROPERTIES INC$314,553
WEINGARTEN REALTY INVESTORS$307,032
SUN COMMUNITIES INC$301,253
HOSPITALITY PROPERTIES TRUST$277,183
SENIOR HOUSING PROPERTIES TRUST$267,156
EQUITY COMMONWEALTH$266,211
DCT INDUSTRIAL TRUST INC$244,267
POST PROPERTIES INC$242,910
TANGER FACTORY OUTLET CENTERS$236,630
HEALTHCARE REALTY TRUST INC$226,512
APPLE HOSPITALITY REIT INC$219,480
COLUMBIA PROPERTY TRUST INC$216,019
PIEDMONT OFFICE REALTY TRUST INC$206,849
LASALLE HOTEL PROPERTIES$194,698
EQUITY ONE INC$193,957
CARE CAPITAL PROPERTIES INC$193,173
SUNSTONE HOTEL INVESTORS INC$191,755
EDUCATION REALTY TRUST INC$186,255
ACADIA REALTY TRUST$181,583
AMERICAN HOMES 4 RENT$179,880
FIRST INDUSTRIAL REALTY TRUST INC$179,133
URBAN EDGE PROPERTIES$177,269
BRANDYWINE REALTY TRUST$177,054
RLJ LODGING TRUST$176,352
KITE REALTY GROUP TRUST$171,588
DUPONT FABROS TECHNOLOGY INC$169,167
CORPORATE OFFICE PROPERTIES TRUST$163,191
RETAIL OPPORTUNITY INVESTMENTS CORP$145,276
MACK-CALI REALTY CORP$143,451
PEBBLEBROOK HOTEL TRUST$137,192
EASTGROUP PROPERTIES INC$137,106
COUSINS PROPERTIES INC$136,196
WASHINGTON REAL ESTATE INVESTMENT TRUST$133,719
WP GLIMCHER INC$129,526
DIAMONDROCK HOSPITALITY CO$129,480
PS BUSINESS PARKS INC$129,004
NEW YORK REIT INC$128,500
XENIA HOTELS & RESORTS INC$126,037
CBL & ASSOCIATES PROPERTIES INC$125,818
LTC PROPERTIES INC$121,611
MONOGRAM RESIDENTIAL TRUST INC$111,616
RAMCO-GERSHENSON PROPERTIES TRUST$104,249
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST$103,774
PARKWAY PROPERTIES INC/MD$84,861
INLAND REAL ESTATE CORP$74,970
FELCOR LODGING TRUST INC$70,296
REXFORD INDUSTRIAL REALTY INC$70,047
FRANKLIN STREET PROPERTIES CORP$66,895
HERSHA HOSPITALITY TRUST$64,570
TIER REIT INC$55,332
ROUSE PROPERTIES INC$50,750
UNIVERSAL HEALTH REALTY INCOME TRUST$47,780
SAUL CENTERS INC$44,664
FIRST POTOMAC REALTY TRUST$44,388
CEDAR REALTY TRUST INC$40,242
SILVER BAY REALTY TRUST CORP$39,088
ASHFORD HOSPITALITY TRUST INC$36,696
NATIONAL STORAGE AFFILIATES TRUST$31,024
NEXPOINT RESIDENTIAL TRUST INC$23,800
REX ENERGY CORP$21,988
ASHFORD HOSPITALITY PRIME INC$21,310
 
Fixed Income
Holding NameMarket Value
UNITED STATES TREASURY NOTE/BOND 1% 02/15/2018$37,186,048
UNITED STATES TREASURY NOTE/BOND 1% 08/15/2018$15,829,791
UNITED STATES TREASURY NOTE/BOND .625% 09/30/2017$12,565,953
UNITED STATES TREASURY NOTE/BOND 1% 09/15/2018$9,590,183
UNITED STATES TREASURY NOTE/BOND 1% 05/15/2018$9,026,892
CITRIX SYSTEMS INC .5% 04/15/2019$7,511,831
LINKEDIN CORP 0.5% 11/01/2019$7,371,225
EXTRA SPACE STORAGE LP 3.125% 10/01/2035$6,826,400
JAZZ INVESTMENTS I LTD 1.875% 08/15/2021$6,333,581
SANDISK CORP .5% 10/15/2020$5,926,550
PRICELINE GROUP INC/THE .35% 06/15/2020$5,845,359
CTRIP.COM INTERNATIONAL LTD 1% 07/01/2020$5,710,372
ELECTRONICS FOR IMAGING INC 0.75% 09/01/2019$5,548,125
STARWOOD PROPERTY TRUST INC 4.55% 03/01/2018$5,528,504
EURONET WORLDWIDE INC 1.5% 10/01/2044$5,425,475
BROOKDALE SENIOR LIVING INC 2.75% 06/15/2018$5,271,403
INVITATION HOMES 2014-SFR1 TRUST 1.198% 06/17/2031$5,121,185
WRIGHT MEDICAL GROUP INC 2% 02/15/2020$4,930,713
RTI INTERNATIONAL METALS INC 1.625% 10/15/2019$4,713,464
CARDTRONICS INC 1% 12/01/2020$4,462,863
MEDIDATA SOLUTIONS INC 1% 08/01/2018$4,456,031
JARDEN CORP 1.125% 03/15/2034$4,396,868
PROOFPOINT INC .75% 06/15/2020$4,388,016
WEB.COM GROUP INC 1% 08/15/2018$4,302,431
HOLOGIC INC 0% 12/15/2043$4,107,403
FDIC GUARANTEED NOTES TRUST 2010-S1 3.25% 04/25/2038$4,085,047
HURON CONSULTING GROUP INC 1.25% 10/01/2019$4,032,188
RED HAT INC 0.25% 10/01/2019$4,006,453
YAHOO! INC 0% 12/01/2018$3,950,203
MICROCHIP TECHNOLOGY INC 1.625% 02/15/2025$3,937,469
DYCOM INDUSTRIES INC 0.75% 09/15/2021$3,873,516
WEBMD HEALTH CORP 1.5% 12/01/2020$3,777,834
QUALCOMM INC 1.4% 05/18/2018$3,753,736
WEBMD HEALTH CORP 2.5% 01/31/2018$3,739,500
SEACOR HOLDINGS INC 2.5% 12/15/2027$3,698,491
MACQUARIE INFRASTRUCTURE CORP 2.875% 07/15/2019$3,671,628
ARES CAPITAL CORP 4.375% 01/15/2019$3,643,156
NEWMONT MINING CORP 1.625% 07/15/2017$3,634,838
AKAMAI TECHNOLOGIES INC 0% 02/15/2019$3,602,304
LIBERTY MEDIA CORP 1.375% 10/15/2023$3,557,813
ROYAL GOLD INC 2.875% 06/15/2019$3,535,709
ALLSCRIPTS HEALTHCARE SOLUTIONS INC 1.25% 07/01/2020$3,479,700
COLONY AMERICAN HOMES 2015-1 1.398% 07/17/2032$3,394,102
CEPHEID 1.25% 02/01/2021$3,371,709
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.399% 07/25/2024$3,371,477
BROCADE COMMUNICATIONS SYSTEMS INC 1.375% 01/01/2020$3,370,988
NEDERLANDSE WATERSCHAPSBANK NV 1.25% 09/18/2017$3,312,484
PORSCHE INNOVATIVE LEASE OWNER TRUST 201 1.19% 07/23/2018$3,279,928
ASIAN DEVELOPMENT BANK .75% 07/28/2017$3,243,308
NATIONAL HEALTH INVESTORS INC 3.25% 04/01/2021$3,231,159
CREDIT SUISSE/NEW YORK NY 1.375% 05/26/2017$3,228,864
LAM RESEARCH CORP 1.25% 05/15/2018$3,185,359
TIVO INC 2% 10/01/2021$3,172,831
MOLINA HEALTHCARE INC 1.625% 08/15/2044$3,126,300
INVITATION HOMES 2014-SFR2 TRUST 1.298% 09/17/2031$3,118,741
BIOMARIN PHARMACEUTICAL INC .75% 10/15/2018$3,079,713
SYNCHRONOSS TECHNOLOGIES INC .75% 08/15/2019$3,057,044
CARMAX AUTO OWNER TRUST 2015-2 1.37% 03/16/2020$2,985,793
J2 GLOBAL INC 3.25% 06/15/2029$2,948,805
WORKDAY INC .75% 07/15/2018$2,931,181
PRICELINE GROUP INC/THE 0.9% 09/15/2021$2,901,703
STANDARD CHARTERED PLC 1.5% 09/08/2017$2,885,683
SOUTHERN CALIFORNIA EDISON CO 1.845% 02/01/2022$2,884,314
GENERAL MOTORS FINANCIAL CO INC 2.4% 04/10/2018$2,871,110
BECTON DICKINSON AND CO 1.45% 05/15/2017$2,807,803
TESLA MOTORS INC .25% 03/01/2019$2,803,125
TSMC GLOBAL LTD .95% 04/03/2016$2,757,626
SPIRIT REALTY CAPITAL INC 2.875% 05/15/2019$2,746,883
CHART INDUSTRIES INC 2% 08/01/2018$2,691,923
ILLUMINA INC 0% 06/15/2019$2,687,750
ON SEMICONDUCTOR CORP 1% 12/01/2020$2,677,588
INTEGRATED DEVICE TECHNOLOGY INC 0.875% 11/15/2022$2,661,531
AMGEN INC 1.25% 05/22/2017$2,652,017
IMPAX LABORATORIES INC 2% 06/15/2022$2,640,744
MMAF EQUIPMENT FINANCE LLC 2015-A 1.39% 10/16/2019$2,630,650
NRG YIELD INC 3.25% 06/01/2020$2,623,500
TOLL BROTHERS FINANCE CORP .5% 09/15/2032$2,623,100
NXP SEMICONDUCTORS NV 1% 12/01/2019$2,573,821
ARDAGH PACKAGING FINANCE PLC / ARDAGH HO 3.286% 12/15/2019$2,569,450
HOLOGIC INC 2% 03/01/2042$2,567,010
CHASE ISSUANCE TRUST 1.15% 01/15/2019$2,555,410
RYLAND GROUP INC/THE .25% 06/01/2019$2,542,446
UNITED STATES TREASURY NOTE/BOND 1% 12/31/2017$2,510,353
UNITED STATES TREASURY NOTE/BOND .875% 01/15/2018$2,503,663
HERBALIFE LTD 2% 08/15/2019$2,445,925
FEDERAL HOME LOAN MORTGAGE CORP 2.473% 09/01/2035$2,438,438
HILTON USA TRUST 2013-HLF 1.19% 11/05/2030$2,419,114
JP MORGAN CHASE COMMERCIAL MORTGAGE SECU 1.438% 01/15/2032$2,367,522
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 1.25% 05/23/2017$2,313,163
CREDIT AGRICOLE SA/LONDON 1.089% 04/15/2019$2,295,761
INTERDIGITAL INC/PA 1.5% 03/01/2020$2,289,025
TRADE MAPS 1 LTD .892% 12/10/2018$2,287,311
PATTERN ENERGY GROUP INC 4% 07/15/2020$2,286,491
FMS WERTMANAGEMENT AOER .625% 01/30/2017$2,285,090
FIREEYE INC 1% 06/01/2035$2,244,000
LIVE NATION ENTERTAINMENT INC 2.5% 05/15/2019$2,243,050
HEWLETT PACKARD ENTERPRISE CO 2.85% 10/05/2018$2,220,473
VERINT SYSTEMS INC 1.5% 06/01/2021$2,207,505
NUANCE COMMUNICATIONS INC 1.5% 11/01/2035$2,203,906
HEALTHSOUTH CORP 2% 12/01/2043$2,202,698
ALLY MASTER OWNER TRUST .648% 02/15/2018$2,200,180
NUVASIVE INC 2.75% 07/01/2017$2,179,388
SALESFORCE.COM INC .25% 04/01/2018$2,173,125
CAISSE D'AMORTISSEMENT DE LA DETTE SOCIA 1.25% 03/12/2018$2,158,498
INTEGRA LIFESCIENCES HOLDINGS CORP 1.625% 12/15/2016$2,128,425
RESTORATION HARDWARE HOLDINGS INC 0% 06/15/2019$2,126,600
BANQUE FEDERATIVE DU CREDIT MUTUEL SA 1.144% 10/28/2016$2,104,196
KUBOTA CREDIT OWNER TRUST 2015-1 .94% 12/15/2017$2,065,414
BLUCORA INC 4.25% 04/01/2019$2,056,691
CHASE ISSUANCE TRUST .448% 04/15/2019$1,991,325
CSMC TRUST 2013-IVR2 1.55% 04/25/2043$1,979,409
BP CAPITAL MARKETS PLC 1.674% 02/13/2018$1,968,866
SYNCHRONY CREDIT CARD MASTER NOTE TRUST 1.6% 04/15/2021$1,968,128
BB&T CORP .96% 02/01/2019$1,919,368
BNZ INTERNATIONAL FUNDING LTD/LONDON 1.9% 02/26/2018$1,900,657
ALLY MASTER OWNER TRUST .648% 04/15/2018$1,899,926
CITIZENS BANK NA/PROVIDENCE RI 1.6% 12/04/2017$1,885,431
CAPITAL AUTO RECEIVABLES ASSET TRUST 201 1.39% 09/20/2018$1,878,994
TWITTER INC 0.25% 09/15/2019$1,866,200
SIEMENS FINANCIERINGSMAATSCHAPPIJ NV 1.05% 08/16/2017$1,843,188
COLONY AMERICAN HOMES 2014-2 1.137% 07/17/2031$1,839,950
SUNPOWER CORP 4% 01/15/2023$1,836,072
BARCLAYS BANK PLC .901% 02/17/2017$1,829,413
TTM TECHNOLOGIES INC 1.75% 12/15/2020$1,818,232
INTERNATIONAL LEASE FINANCE CORP 3.875% 04/15/2018$1,806,350
DISCOVER BANK/GREENWOOD DE 2.6% 11/13/2018$1,803,721
STARWOOD PROPERTY TRUST INC 4% 01/15/2019$1,794,930
MACQUARIE BANK LTD 1.6% 10/27/2017$1,790,714
AUSTRALIA & NEW ZEALAND BANKING GROUP LTD/NEW YORK NY 2% 11/16/2018$1,779,018
GLENCORE FINANCE CANADA LTD 2.7% 10/25/2017$1,774,080
NUANCE COMMUNICATIONS INC 1% 12/15/2035$1,756,913
WESTPAC BANKING CORP 1.95% 11/23/2018$1,729,630
CHEVRON CORP 1.344% 11/09/2017$1,726,201
ACORDA THERAPEUTICS INC 1.75% 06/15/2021$1,724,023
VIPSHOP HOLDINGS LTD 1.5% 03/15/2019$1,723,575
PORSCHE FINANCIAL AUTO SECURITIZATION TR .67% 01/23/2018$1,719,241
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.141% 07/01/2041$1,717,656
ACTAVIS FUNDING SCS 2.35% 03/12/2018$1,713,716
FORD MOTOR CREDIT CO LLC 4.25% 02/03/2017$1,713,708
ARAMARK CORP US TLE 3.25% 03/31/2016$1,713,038
BANK OF AMERICA CORP 1.351% 03/22/2018$1,701,909
KROGER CO/THE .818% 10/17/2016$1,699,788
EUROPEAN INVESTMENT BANK 1.125% 08/15/2018$1,699,691
MANUFACTURERS & TRADERS TRUST CO 1.4% 07/25/2017$1,696,785
NVIDIA CORP 1% 12/01/2018$1,695,938
ALLY FINANCIAL INC 3.25% 09/29/2017$1,692,900
HSBC BANK PLC .961% 05/15/2018$1,684,709
KRAFT HEINZ FOODS CO 2% 07/02/2018$1,669,521
AMTRUST FINANCIAL SERVICES INC 2.75% 12/15/2044$1,665,231
ANTHEM INC 2.375% 02/15/2017$1,660,636
BANK OF TOKYO-MITSUBISHI UFJ LTD/THE 1.45% 09/08/2017$1,654,175
UBS AG/STAMFORD CT 1.8% 03/26/2018$1,653,244
FORD MOTOR CREDIT CO LLC 1.684% 09/08/2017$1,652,888
AES CORP/VA 3.283% 06/01/2019$1,650,950
SPIRIT REALTY CAPITAL INC 3.75% 05/15/2021$1,638,252
VECTOR GROUP LTD 5.5% 04/15/2020$1,622,188
ABBVIE INC 1.75% 11/06/2017$1,618,618
INSULET CORP 2% 06/15/2019$1,618,130
MORGAN STANLEY 1.435% 01/27/2020$1,617,108
SUNTORY HOLDINGS LTD 1.65% 09/29/2017$1,615,769
DAIMLER FINANCE NORTH AMERICA LLC 1.65% 03/02/2018$1,614,595
NEWELL RUBBERMAID INC 2.15% 10/15/2018$1,600,727
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.149% 05/25/2024$1,592,769
ZIMMER BIOMET HOLDINGS INC 2% 04/01/2018$1,585,802
RWT HOLDINGS INC 5.625% 11/15/2019$1,568,319
CORNERSTONE ONDEMAND INC 1.5% 07/01/2018$1,560,263
CITIGROUP INC 1.55% 08/14/2017$1,559,899
TALEN ENERGY SUPPLY LLC 4.625% 07/15/2019$1,551,550
ABBEY NATIONAL TREASURY SERVICES PLC/LON 1.65% 09/29/2017$1,546,920
ECHO GLOBAL LOGISTICS INC 2.5% 05/01/2020$1,535,475
DEPOMED INC 2.5% 09/01/2021$1,529,819
NABORS INDUSTRIES INC 2.35% 09/15/2016$1,528,829
NOMURA HOLDINGS INC 1.736% 09/13/2016$1,514,516
CAPITAL ONE NA/MCLEAN VA 1.5% 09/05/2017$1,512,696
BANK OF ENGLAND EURO NOTE 1.25% 03/16/2018$1,508,106
PROVINCE OF BRITISH COLUMBIA CANADA 1.2% 04/25/2017$1,506,414
BPCE SA 1.545% 04/25/2016$1,503,026
UNITED STATES TREASURY NOTE/BOND .875% 11/15/2017$1,502,490
L-3 COMMUNICATIONS CORP 1.5% 05/28/2017$1,488,377
FOREST CITY ENTERPRISES INC 3.625% 08/15/2020$1,471,191
ENCORE CAPITAL GROUP INC 3% 07/01/2020$1,458,056
ANHEUSER-BUSCH INBEV FINANCE INC 1.9% 02/01/2019$1,453,302
CDW LLC TERM LOAN 3.25% 03/31/2016$1,446,817
MIZUHO BANK LTD 1.2431% 03/26/2018$1,446,066
ROVI CORP 0.5% 03/01/2020$1,444,443
AP MOELLER - MAERSK A/S 2.55% 09/22/2019$1,443,753
DAIMLER FINANCE NORTH AMERICA LLC 1.375% 08/01/2017$1,441,293
ANHEUSER-BUSCH INBEV FINANCE INC 2.65% 02/01/2021$1,439,730
CREDIT AGRICOLE SA 1.133% 10/03/2016$1,423,037
CVS HEALTH CORP 1.9% 07/20/2018$1,421,625
ILLUMINA INC .5% 06/15/2021$1,416,406
AT&T INC 1.237% 11/27/2018$1,400,617
THOMSON REUTERS CORP 1.65% 09/29/2017$1,377,084
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.799% 01/25/2024$1,371,854
ING BANK NV 2% 11/26/2018$1,365,283
INVITATION HOMES 2015-SFR3 TRUST 1.621% 08/17/2032$1,356,122
TWITTER INC 1% 09/15/2021$1,349,859
VERIZON COMMUNICATIONS INC 1.35% 06/09/2017$1,348,859
UNITED STATES TREASURY NOTE/BOND .625% 05/31/2017$1,338,586
COLONY CAPITAL INC 5% 04/15/2023$1,337,641
HYUNDAI CAPITAL AMERICA 1.45% 02/06/2017$1,337,122
T-MOBILE USA INC 5.25% 09/01/2018$1,332,500
SEQUOIA MORTGAGE TRUST 2013-4 1.55% 04/25/2043$1,331,319
MERITOR INC 4% 02/15/2027$1,324,944
MEDICINES CO/THE 2.5% 01/15/2022$1,324,868
ENVESTNET INC 1.75% 12/15/2019$1,319,175
TEVA PHARMACEUTICAL FINANCE CO LLC .25% 02/01/2026$1,312,194
FMS WERTMANAGEMENT AOER 1.125% 09/05/2017$1,304,238
JPMORGAN CHASE & CO 1.195% 01/25/2018$1,301,230
MORGAN STANLEY 2.45% 02/01/2019$1,285,532
IMPERIAL TOBACCO FINANCE PLC 2.05% 07/20/2018$1,272,301
METROPOLITAN LIFE GLOBAL FUNDING I 1.95% 12/03/2018$1,263,628
AMERICAN EXPRESS CO .919% 05/22/2018$1,262,220
STRUCTURED ASSET INVESTMENT LOAN TRUST 2 .879% 01/25/2033$1,256,026
SOLARCITY CORP 2.75% 11/01/2018$1,252,549
TOYOTA MOTOR CREDIT CORP 1.125% 05/16/2017$1,251,671
CALAMP CORP 1.625% 05/15/2020$1,245,250
SYNCHRONY FINANCIAL 1.875% 08/15/2017$1,240,697
INSTITUTO DE CREDITO OFICIAL 1.125% 04/01/2016$1,240,501
BANK OF AMERICA CORP 1.7% 08/25/2017$1,239,902
GOLDMAN SACHS GROUP INC/THE 1.42% 11/15/2018$1,239,354
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.138% 03/01/2036$1,230,375
MORGAN STANLEY 1.034% 07/23/2019$1,229,033
GLENCORE FUNDING LLC 1.649% 01/15/2019$1,228,342
CIT GROUP INC 5.25% 03/15/2018$1,216,854
COMPASS BANK 1.85% 09/29/2017$1,213,990
ACTAVIS FUNDING SCS 1.543% 03/12/2020$1,210,972
CITIGROUP INC 2.05% 12/07/2018$1,203,361
SUNTRUST BANK/ATLANTA GA 1.35% 02/15/2017$1,199,460
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.199% 10/25/2023$1,193,077
SANTANDER BANK NA 2% 01/12/2018$1,190,987
NRG YIELD INC 3.5% 02/01/2019$1,189,688
BANK OF NEW YORK MELLON CORP/THE .86% 08/01/2018$1,188,145
COMMONWEALTH BANK OF AUSTRALIA/NEW YORK NY 1.75% 11/02/2018$1,187,632
CNH INDUSTRIAL CAPITAL LLC 3.875% 07/16/2018$1,186,450
SABINE PASS LNG LP 7.5% 11/30/2016$1,178,475
TIAA ASSET MANAGEMENT FINANCE CO LLC 2.95% 11/01/2019$1,176,532
NUANCE COMMUNICATIONS INC 2.75% 11/01/2031$1,168,700
SCORPIO TANKERS INC 2.375% 07/01/2019$1,165,434
AMERIGAS PARTNERS LP / AMERIGAS FINANCE 6.25% 08/20/2019$1,165,250
MICRON TECHNOLOGY INC 3% 11/15/2043$1,162,809
INVITATION HOMES 2013-SFR1 TRUST 1.4% 12/17/2030$1,162,229
ASTORIA FINANCIAL CORP 5% 06/19/2017$1,157,499
BROADSOFT INC 1% 09/01/2022$1,147,906
TENET HEALTHCARE CORP 6.25% 11/01/2018$1,147,500
EMERGENT BIOSOLUTIONS INC 2.875% 01/15/2021$1,147,095
DISH DBS CORP 4.625% 07/15/2017$1,145,200
REGIONS FINANCIAL CORP 2% 05/15/2018$1,144,027
NCUA GUARANTEED NOTES TRUST 2010-A1 .543% 12/07/2020$1,126,534
UNITED STATES TREASURY NOTE/BOND 0.875% 11/30/2017$1,122,144
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.649% 11/25/2023$1,121,479
HSBC USA INC 1.7% 03/05/2018$1,115,800
HEWLETT PACKARD ENTERPRISE CO 2.45% 10/05/2017$1,112,544
ALLIED IRISH BANKS PLC 2.875% 11/28/2016$1,103,189
WPX ENERGY INC 5.25% 01/15/2017$1,102,063
PENSKE TRUCK LEASING CO LP / PTL FINANCE 2.5% 03/15/2016$1,100,215
CNPC GENERAL CAPITAL LTD 1.209% 05/14/2017$1,098,726
ACTAVIS FUNDING SCS 1.3% 06/15/2017$1,095,459
PERRIGO CO PLC 1.3% 11/08/2016$1,092,681
HEALTHWAYS INC 1.5% 07/01/2018$1,092,678
CEMEX SAB DE CV 3.72% 03/15/2020$1,090,809
SHELL INTERNATIONAL FINANCE BV 1.25% 11/10/2017$1,077,924
ABBVIE INC 1.8% 05/14/2018$1,077,452
FIFTH THIRD AUTO TRUST 2014-1 .68% 04/16/2018$1,070,805
DEVON ENERGY CORP .826% 12/15/2016$1,043,423
WINDSTREAM SERVICES LLC 7.875% 11/01/2017$1,039,500
MITSUBISHI UFJ TRUST & BANKING CORP 1.6% 10/16/2017$1,037,893
GOLDMAN SACHS GROUP INC/THE 5.625% 01/15/2017$1,036,070
CITIGROUP INC .551% 06/09/2016$1,028,400
SHELL INTERNATIONAL FINANCE BV 1.625% 11/10/2018$1,025,949
STANLEY BLACK & DECKER INC 2.451% 11/17/2018$1,023,418
CALIFORNIA EARTHQUAKE AUTHORITY 1.824% 07/01/2017$1,007,730
ALLIANCE DATA SYSTEMS CORP 5.25% 12/01/2017$1,007,500
PENSKE TRUCK LEASING CO LP / PTL FINANCE 3.2% 07/15/2020$1,001,750
ABBEY NATIONAL TREASURY SERVICES PLC/LON 1.375% 03/13/2017$999,979
JACKSON NATIONAL LIFE GLOBAL FUNDING 1.25% 02/21/2017$999,849
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 1.6% 11/20/2017$995,577
AIRCASTLE LTD 6.75% 04/15/2017$994,394
SPRINGLEAF MORTGAGE LOAN TRUST 2013-1 1.27% 06/25/2058$990,723
JARDEN CORP 1.5% 06/15/2019$983,475
WALTER INVESTMENT MANAGEMENT CORP 4.5% 11/01/2019$977,550
ASHLAND INC 3.875% 04/15/2018$967,025
CATERPILLAR FINANCIAL SERVICES CORP 1% 03/03/2017$960,376
CANADIAN NATURAL RESOURCES LTD 1.75% 01/15/2018$950,801
WHITING PETROLEUM CORP 1.25% 04/01/2020$940,625
SUNTRUST BANK/ATLANTA GA 5.2% 01/17/2017$925,990
WELLS FARGO BANK NA 1.65% 01/22/2018$922,527
VENTAS REALTY LP 1.55% 09/26/2016$907,695
VERIZON COMMUNICATIONS INC 1.816% 09/15/2016$905,436
GENERAL MOTORS FINANCIAL CO INC 4.75% 08/15/2017$905,076
PALO ALTO NETWORKS INC 0% 07/01/2019$901,806
HORIZON PHARMA INVESTMENT LTD 2.5% 03/15/2022$900,240
NATIONAL OILWELL VARCO INC 1.35% 12/01/2017$899,905
HYUNDAI CAPITAL AMERICA 2% 03/19/2018$897,194
BANCO SANTANDER CHILE 1.186% 04/11/2017$895,500
ALIBABA GROUP HOLDING LTD 1.625% 11/28/2017$894,805
BANK OF AMERICA CORP .85% 05/02/2017$893,642
MIZUHO BANK LTD 1.7% 09/25/2017$890,691
PRA GROUP INC 3% 08/01/2020$890,113
BAXALTA INC 1.061% 06/22/2018$888,034
SBA COMMUNICATIONS CORP 5.625% 10/01/2019$887,188
INDUSTRIAL & COMMERCIAL BANK OF CHINA LT 2.351% 11/13/2017$886,324
NETSUITE INC .25% 06/01/2018$885,363
JPMORGAN CHASE & CO .84% 02/15/2017$880,097
FORD MOTOR CREDIT CO LLC 3% 06/12/2017$877,461
WALGREENS BOOTS ALLIANCE INC .774% 05/18/2016$869,306
VERIZON COMMUNICATIONS INC 2.036% 09/14/2018$869,162
IRONWOOD PHARMACEUTICALS INC 2.25% 06/15/2022$868,753
CITIGROUP INC 2.021% 05/15/2018$864,637
EXPRESS SCRIPTS HOLDING CO 1.25% 06/02/2017$856,099
FIFTH THIRD BANCORP 5.45% 01/15/2017$854,206
CHENIERE ENERGY INC 4.25% 03/15/2045$846,025
WANT WANT CHINA FINANCE LTD 1.875% 05/14/2018$839,219
NCUA GUARANTEED NOTES TRUST 2010-R1 .641% 10/07/2020$817,976
SABMILLER HOLDINGS INC 2.45% 01/15/2017$816,739
KEYW HOLDING CORP/THE 2.5% 07/15/2019$810,513
MIZUHO BANK LTD 1.3% 04/16/2017$807,917
CENTERPOINT ENERGY TRANSITION BOND CO IV .901% 04/15/2018$805,289
GENERAL MILLS INC 1.4% 10/20/2017$800,342
CHEVRON CORP 1.79% 11/16/2018$799,928
MOBILE MINI INC 7.875% 12/01/2020$799,500
ABBEY NATIONAL TREASURY SERVICES PLC/LON .796% 03/13/2017$799,007
PRUDENTIAL FINANCIAL INC 1.1% 08/15/2018$798,227
FREDDIE MAC STRUCTURED AGENCY CREDIT RISK DEBT NOTES 1.5716% 05/25/2028$795,077
CAPITAL ONE FINANCIAL CORP 6.15% 09/01/2016$791,773
FEDERAL NATIONAL MORTGAGE ASSOCIATION 1.149% 05/25/2024$785,216
ABN AMRO BANK NV 1.094% 10/28/2016$781,783
WEA FINANCE LLC / WESTFIELD UK & EUROPE 1.75% 09/15/2017$776,159
JOHN DEERE CAPITAL CORP 1.125% 06/12/2017$760,011
SEQUOIA MORTGAGE TRUST 2013-1 1.45% 02/25/2043$748,373
ARAMARK SERVICES INC 5.75% 03/15/2020$748,368
GENERAL MOTORS FINANCIAL CO INC 3% 09/25/2017$733,288
REYNOLDS AMERICAN INC 2.3% 06/12/2018$727,327
CITIGROUP INC 1.85% 11/24/2017$719,934
NSTAR ELECTRIC CO .56% 05/17/2016$719,428
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.004% 06/01/2041$707,132
NATIONWIDE BUILDING SOCIETY 2.35% 01/21/2020$702,987
BPCE SA .891% 06/23/2017$698,051
THOMSON REUTERS CORP 1.3% 02/23/2017$697,338
JP MORGAN MORTGAGE TRUST 2013-1 2.5% 03/25/2043$689,968
HESS CORP 1.3% 06/15/2017$689,041
MORGAN STANLEY 6.625% 04/01/2018$688,485
CELGENE CORP 2.125% 08/15/2018$682,119
HUNTINGTON NATIONAL BANK/THE 2.2% 11/06/2018$681,605
NORDEA BANK AB 1.875% 09/17/2018$681,210
CAPITAL ONE NA/MCLEAN VA 1.65% 02/05/2018$665,308
FREEPORT-MCMORAN INC 2.3% 11/14/2017$659,063
CALATLANTIC GROUP INC 1.25% 08/01/2032$647,288
COLONY STARWOOD HOMES 3% 07/01/2019$646,875
RYDER SYSTEM INC 2.5% 03/01/2017$624,077
ELECTRICITE DE FRANCE SA 1.15% 01/20/2017$618,599
DUKE ENERGY CORP .664% 04/03/2017$616,496
CAMERON INTERNATIONAL CORP 1.4% 06/15/2017$612,315
ENBRIDGE INC .734% 06/02/2017$610,258
SERVICENOW INC 0% 11/01/2018$605,850
JB HUNT TRANSPORT SERVICES INC 2.4% 03/15/2019$604,536
GSAMP TRUST 2004-SEA2 .849% 03/25/2034$602,440
INTEL CORP 2.95% 12/15/2035$601,475
CATERPILLAR FINANCIAL SERVICES CORP 1.25% 08/18/2017$599,862
BANK OF TOKYO-MITSUBISHI UFJ LTD/THE 1.2% 03/10/2017$597,697
RESTORATION HARDWARE HOLDINGS INC 0% 07/15/2020$594,844
GATX CORP 2.5% 07/30/2019$590,831
TESLA MOTORS INC 1.25% 03/01/2021$590,388
OPTION ONE MORTGAGE LOAN TRUST 2005-4 AS .459% 11/25/2035$582,742
COCA-COLA CO/THE 0.875% 10/27/2017$582,310
PENSKE TRUCK LEASING CO LP / PTL FINANCE 3.75% 05/11/2017$581,182
SEQUOIA MORTGAGE TRUST 2012-1 2.865% 01/25/2042$580,540
DAIMLER FINANCE NORTH AMERICA LLC .98% 08/01/2016$580,355
XCEL ENERGY INC .75% 05/09/2016$579,483
AMERICAN EXPRESS CREDIT CORP 1.125% 06/05/2017$577,489
NBCUNIVERSAL ENTERPRISE INC .974% 04/15/2018$569,519
CAPITAL ONE BANK USA NA 1.15% 11/21/2016$569,363
SHELL INTERNATIONAL FINANCE BV 0.9214% 11/10/2018$568,653
HEALTH CARE REIT INC 3.625% 03/15/2016$565,532
CONOCOPHILLIPS CO 1.5% 05/15/2018$565,501
BAIDU INC 2.25% 11/28/2017$562,949
PACCAR FINANCIAL CORP .879% 12/06/2018$561,298
ALERE INC 3% 05/15/2016$560,970
NELNET STUDENT LOAN TRUST 2014-2 .479% 06/25/2021$550,580
SYNCHRONY FINANCIAL 1.53% 02/03/2020$540,884
EXTRA SPACE STORAGE LP 2.375% 07/01/2033$535,641
VERIZON COMMUNICATIONS INC 1.053% 06/17/2019$535,598
HUTCHISON WHAMPOA INTERNATIONAL 12 II LT 2% 11/08/2017$533,689
FREDDIE MAC STRUCTURED AGENCY CREDIT RIS 1.249% 03/25/2025$530,958
UNITED STATES TREASURY NOTE/BOND 1.25% 12/15/2018$524,286
AVIS BUDGET CAR RENTAL LLC / AVIS BUDGET 4.875% 11/15/2017$524,013
COLONY AMERICAN HOMES 2014-1 1.4% 05/17/2031$521,923
SPRINGLEAF MORTGAGE LOAN TRUST 2013-2 1.78% 12/25/2065$514,022
JPMORGAN CHASE & CO 1.35% 02/15/2017$510,028
AMERICAN HOMES 4 RENT 2014-SFR1 1.25% 06/17/2031$506,545
HERTZ CORP/THE 6.75% 04/15/2019$503,255
TSMC GLOBAL LTD 1.625% 04/03/2018$502,026
CREDIT SUISSE/NEW YORK NY 1.75% 01/29/2018$499,634
WALGREENS BOOTS ALLIANCE INC 1.75% 11/17/2017$488,980
BAXALTA INC 2% 06/22/2018$484,287
AUTODESK INC 1.95% 12/15/2017$483,850
AT&T INC 5.5% 02/01/2018$482,005
GEORGIA POWER CO .606% 03/15/2016$469,952
HYUNDAI CAPITAL AMERICA 2.125% 10/02/2017$465,844
FIDELITY NATIONAL INFORMATION SERVICES I 2% 04/15/2018$464,385
QBE INSURANCE GROUP LTD 2.4% 05/01/2018$461,201
SUMITOMO MITSUI BANKING CORP .962% 07/19/2016$450,489
CARNIVAL CORP 1.2% 02/05/2016$450,010
MACQUARIE BANK LTD .925% 10/27/2017$447,875
BP CAPITAL MARKETS PLC .821% 05/10/2018$436,013
KINDER MORGAN INC/DE 3.05% 12/01/2019$435,437
PENSKE TRUCK LEASING CO LP / PTL FINANCE 2.5% 06/15/2019$435,061
JOHN DEERE CAPITAL CORP 1.4% 03/15/2017$434,683
KINDER MORGAN INC/DE 2% 12/01/2017$434,235
TECO FINANCE INC .883% 04/10/2018$433,664
CC HOLDINGS GS V LLC / CROWN CASTLE GS I 2.381% 12/15/2017$432,196
BRITISH TELECOMMUNICATIONS PLC 1.625% 06/28/2016$431,024
SUNTRUST BANK/ATLANTA GA .761% 02/15/2017$428,084
NCUA GUARANTEED NOTES TRUST 2011-R4 .571% 03/06/2020$427,671
GRIFFON CORP 4% 01/15/2017$427,119
LLOYDS BANK PLC 2.3% 11/27/2018$424,547
HUNTINGTON NATIONAL BANK/THE 1.3% 11/20/2016$420,421
MURPHY OIL CORP 2.5% 12/01/2017$420,199
FREEPORT-MCMORAN INC 2.15% 03/01/2017$420,000
WHIRLPOOL CORP 1.65% 11/01/2017$409,125
ENBRIDGE INC .934% 10/01/2016$407,075
KROGER CO/THE 2.2% 01/15/2017$403,718
BOARDWALK PIPELINES LP 5.875% 11/15/2016$400,320
HUNTINGTON NATIONAL BANK/THE 1.35% 08/02/2016$400,020
FORD MOTOR CREDIT CO LLC 1.118% 03/12/2019$397,714
BANK OF AMERICA MORTGAGE 2002-K TRUST 2.71% 10/20/2032$397,025
UNITED STATES TREASURY NOTE/BOND .5% 06/15/2016$385,081
SYNCHRONY FINANCIAL 3% 08/15/2019$382,660
THERMO FISHER SCIENTIFIC INC 2.15% 12/14/2018$381,464
CAPITAL AUTO RECEIVABLES ASSET TRUST / A 1.74% 10/22/2018$380,278
HERTZ FLEET LEASE FUNDING LP .741% 12/10/2027$379,924
KEYBANK NA/CLEVELAND OH .819% 11/25/2016$379,806
AMPHENOL CORP 1.55% 09/15/2017$379,307
LA ARENA FUNDING LLC 7.656% 12/15/2026$377,064
LOCKHEED MARTIN CORP 1.85% 11/23/2018$373,201
CAPITAL AUTO RECEIVABLES ASSET TRUST / A 1.29% 04/20/2018$369,609
ANZ NEW ZEALAND INT'L LTD/LONDON 1.4% 04/27/2017$369,580
SOUTHERN POWER CO 1.85% 12/01/2017$360,864
BECTON DICKINSON AND CO 1.8% 12/15/2017$360,518
JOHN DEERE CAPITAL CORP .576% 10/11/2016$360,186
BAT INTERNATIONAL FINANCE PLC .796% 06/15/2018$358,065
ELECTRICITE DE FRANCE SA .747% 01/20/2017$350,322
MEDTRONIC INC 1.5% 03/15/2018$340,716
NATIONAL AUSTRALIA BANK LTD 1.3% 06/30/2017$340,105
CNOOC FINANCE 2013 LTD 1.125% 05/09/2016$339,732
AUTOZONE INC 1.3% 01/13/2017$335,218
PACCAR FINANCIAL CORP 1.1% 06/06/2017$320,305
CARNIVAL CORP 1.875% 12/15/2017$319,267
PHILLIPS 66 2.95% 05/01/2017$314,505
GENERAL MOTORS FINANCIAL CO INC 2.75% 05/15/2016$311,129
WM WRIGLEY JR CO 2% 10/20/2017$301,050
MCKESSON CORP 1.292% 03/10/2017$300,116
FIFTH THIRD BANK/CINCINNATI OH .834% 11/18/2016$300,107
KEYBANK NA/CLEVELAND OH 1.1% 11/25/2016$299,927
UNITED STATES TREASURY NOTE/BOND .625% 11/30/2017$299,144
MIZUHO BANK LTD .731% 09/25/2017$298,354
JOHNSON CONTROLS INC 1.4% 11/02/2017$298,245
ANGLO AMERICAN CAPITAL PLC 1.239% 04/15/2016$297,696
HEARTWARE INTERNATIONAL INC 1.75% 12/15/2021$287,381
FIDELITY NATIONAL INFORMATION SERVICES I 1.45% 06/05/2017$287,369
GREATAMERICA LEASING RECEIVABLES FUNDING 1.83% 06/17/2019$269,864
SEQUOIA MORTGAGE TRUST 2012-2 3.5% 04/25/2042$267,132
CITIZENS BANK NA/PROVIDENCE RI 2.3% 12/03/2018$261,179
ERAC USA FINANCE LLC 1.4% 04/15/2016$260,103
BECTON DICKINSON AND CO .736% 06/15/2016$259,985
WEA FINANCE LLC / WESTFIELD UK & EUROPE 2.7% 09/17/2019$250,250
SYNCHRONY FINANCIAL 2.6% 01/15/2019$239,808
VENTAS REALTY LP 1.25% 04/17/2017$228,745
NAVISTAR INTERNATIONAL CORP 4.75% 04/15/2019$216,944
TRANSALTA CORP 1.9% 06/03/2017$211,127
BRITISH TELECOMMUNICATIONS PLC 1.25% 02/14/2017$199,766
ALIBABA GROUP HOLDING LTD 2.5% 11/28/2019$197,879
ZIMMER BIOMET HOLDINGS INC 2.7% 04/01/2020$179,267
CITIBANK CREDIT CARD ISSUANCE TRUST 1.11% 07/23/2018$170,223
ZOETIS INC 1.15% 02/01/2016$170,000
SUNPOWER CORP .875% 06/01/2021$148,000
FEDERAL HOME LOAN MORTGAGE CORP 2.533% 12/01/2039$122,974
FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.375% 03/01/2036$108,076
SLM STUDENT LOAN TRUST 2014-1 .479% 05/28/2019$82,701
CREDIT SUISSE FIRST BOSTON MORTGAGE SECU 5% 04/25/2019$23,889
NCUA GUARANTEED NOTES TRUST 2010-R1 1.84% 10/07/2020$6,631
FEDERAL HOME LOAN MORTGAGE CORP .549% 04/25/2019$5,496
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$29,477,443
 
Other
Holding NameMarket Value
USD$32,851,704
USD$392,310
US 2YR NOTE (CBT) BOND MAR16 TUH6 COMDTY$122,798
EURO$260
CURRENCY CONTRACT$-6,799
US 5YR NOTE (CBT) BOND MAR16 FVH6 COMDTY$-115,262
RUSSELL 2000 MINI EQUITY INDEX MAR18 RTAH6$-24,809,637
 

Statistics

Portfolio Statistics As of Mar 31, 2016
Statistic3-Year5-Year
Beta0.610.41
Alpha-1.27-0.51
Standard Deviation6.725.56
 
 

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.