ý | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
¨ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
One Amgen Center Drive, | 91320-1799 | |
Thousand Oaks, California | (Zip Code) | |
(Address of principal executive offices) |
Audited Financial Statements: | |
Supplemental Schedules: | |
December 31 | ||||||||
2014 | 2013 | |||||||
Assets | ||||||||
Investments at fair value | $ | 4,195,077,057 | $ | 3,884,239,811 | ||||
Notes receivable from participants | 39,160,420 | 43,082,571 | ||||||
Other, including due from broker | 4,968,103 | 6,416,714 | ||||||
Total assets | 4,239,205,580 | 3,933,739,096 | ||||||
Liabilities | ||||||||
Other, including due to broker | 8,653,815 | 5,217,083 | ||||||
Total liabilities | 8,653,815 | 5,217,083 | ||||||
Net assets reflecting investments at fair value | 4,230,551,765 | 3,928,522,013 | ||||||
Adjustment from fair value to contract value for interests in fully benefit-responsive investment contracts | (3,402,352 | ) | (1,891,753 | ) | ||||
Net assets available for benefits | $ | 4,227,149,413 | $ | 3,926,630,260 |
Year Ended December 31 | ||||||||
2014 | 2013 | |||||||
Additions to (deductions from) net assets: | ||||||||
Employer contributions | $ | 170,868,925 | $ | 159,024,379 | ||||
Participant contributions | 149,332,516 | 138,170,411 | ||||||
Rollover contributions | 27,474,246 | 14,298,798 | ||||||
Interest and dividend income | 45,071,566 | 40,042,545 | ||||||
Net realized/unrealized gains | 294,177,163 | 680,294,916 | ||||||
Interest income on notes receivable from participants | 1,735,158 | 1,780,035 | ||||||
Benefits paid | (378,615,295 | ) | (223,992,574 | ) | ||||
Investment and administrative fees | (9,525,126 | ) | (8,206,499 | ) | ||||
Net increase | 300,519,153 | 801,412,011 | ||||||
Net assets available for benefits at beginning of year | 3,926,630,260 | 3,125,218,249 | ||||||
Net assets available for benefits at end of year | $ | 4,227,149,413 | $ | 3,926,630,260 |
Fair value measurements at December 31, 2014 using | ||||||||||||||||
Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |||||||||||||
Amgen stock | $ | 309,990,445 | $ | — | $ | — | $ | 309,990,445 | ||||||||
Cash and cash equivalents | 48,323,389 | — | — | 48,323,389 | ||||||||||||
Common and preferred stocks: | ||||||||||||||||
High yield fixed income | 13,812 | — | — | 13,812 | ||||||||||||
Large cap growth | 376,870,527 | — | — | 376,870,527 | ||||||||||||
Large cap value | 244,935,716 | — | — | 244,935,716 | ||||||||||||
Small-mid cap growth | 60,992,614 | — | — | 60,992,614 | ||||||||||||
Small-mid cap value | 336,072,443 | 2,071,763 | — | 338,144,206 | ||||||||||||
Other | 223,631,561 | — | — | 223,631,561 | ||||||||||||
Debt securities: | ||||||||||||||||
U.S. Treasury securities | 36,890,567 | — | — | 36,890,567 | ||||||||||||
U.S. government agency securities | — | 48,342,791 | — | 48,342,791 | ||||||||||||
Corporate debt securities | — | 73,790,605 | — | 73,790,605 | ||||||||||||
Mortgage and asset backed securities | — | 21,297,259 | — | 21,297,259 | ||||||||||||
Mutual funds: | ||||||||||||||||
Emerging markets equity | 26,709,070 | — | — | 26,709,070 | ||||||||||||
High yield fixed income | 52,612,129 | — | — | 52,612,129 | ||||||||||||
International growth | 67,874,025 | — | — | 67,874,025 | ||||||||||||
International value | 108,099,713 | — | — | 108,099,713 | ||||||||||||
Real estate investment trust index | 113,604,394 | — | — | 113,604,394 | ||||||||||||
Other | 41,161,010 | — | — | 41,161,010 | ||||||||||||
Collective trust funds: | ||||||||||||||||
Capital preservation | — | 256,562,249 | — | 256,562,249 | ||||||||||||
Emerging markets equity | — | 61,099,957 | — | 61,099,957 | ||||||||||||
Fixed income | — | 154,695,944 | — | 154,695,944 | ||||||||||||
Fixed income index | — | 46,307,977 | — | 46,307,977 | ||||||||||||
Inflation indexed debt | — | 61,060,010 | — | 61,060,010 | ||||||||||||
International growth | — | 77,524,708 | — | 77,524,708 | ||||||||||||
International index | — | 85,554,926 | — | 85,554,926 | ||||||||||||
International value | — | 119,277,650 | — | 119,277,650 | ||||||||||||
Large cap growth | — | 28,845,053 | — | 28,845,053 | ||||||||||||
Large cap index | — | 689,607,489 | — | 689,607,489 | ||||||||||||
Large cap value | — | 10,539,014 | — | 10,539,014 | ||||||||||||
Short term investments | — | 69,176,407 | — | 69,176,407 | ||||||||||||
Small-mid cap growth | — | 3,277,903 | — | 3,277,903 | ||||||||||||
Small-mid cap index | — | 248,253,418 | — | 248,253,418 | ||||||||||||
Small-mid cap value | — | 33,044,822 | — | 33,044,822 | ||||||||||||
Insurance separate account investment contract | — | 56,619,659 | — | 56,619,659 | ||||||||||||
Other | 724 | 345,314 | — | 346,038 | ||||||||||||
$ | 2,047,782,139 | $ | 2,147,294,918 | $ | — | $ | 4,195,077,057 |
Fair value measurements at December 31, 2013 using | ||||||||||||||||
Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | Significant unobservable inputs (Level 3) | Total | |||||||||||||
Amgen stock | $ | 235,164,976 | $ | — | $ | — | $ | 235,164,976 | ||||||||
Cash and cash equivalents | 35,752,823 | — | — | 35,752,823 | ||||||||||||
Common and preferred stocks: | ||||||||||||||||
Large cap growth | 365,454,861 | — | — | 365,454,861 | ||||||||||||
Large cap value | 183,804,249 | — | — | 183,804,249 | ||||||||||||
Small-mid cap growth | 64,832,135 | — | — | 64,832,135 | ||||||||||||
Small-mid cap value | 331,561,439 | — | — | 331,561,439 | ||||||||||||
Other | 198,175,723 | — | — | 198,175,723 | ||||||||||||
Debt securities: | ||||||||||||||||
U.S. Treasury securities | 22,441,702 | — | — | 22,441,702 | ||||||||||||
U.S. government agency securities | — | 39,432,230 | — | 39,432,230 | ||||||||||||
Corporate debt securities | — | 56,742,593 | — | 56,742,593 | ||||||||||||
Mortgage and asset backed securities | — | 21,959,027 | — | 21,959,027 | ||||||||||||
Mutual funds: | ||||||||||||||||
Emerging markets equity | 29,590,116 | — | — | 29,590,116 | ||||||||||||
Fixed income | — | 100,711,349 | — | 100,711,349 | ||||||||||||
High yield debt | 40,069,890 | — | — | 40,069,890 | ||||||||||||
International growth | 83,050,138 | — | — | 83,050,138 | ||||||||||||
International value | 135,879,636 | — | — | 135,879,636 | ||||||||||||
Real estate investment trust index | 83,398,699 | — | — | 83,398,699 | ||||||||||||
Other | 38,516,522 | — | — | 38,516,522 | ||||||||||||
Collective trust funds: | ||||||||||||||||
Capital preservation | — | 258,521,672 | — | 258,521,672 | ||||||||||||
Emerging markets equity | — | 66,232,369 | — | 66,232,369 | ||||||||||||
Fixed income | — | 16,644,981 | — | 16,644,981 | ||||||||||||
Fixed income index | — | 78,879,233 | — | 78,879,233 | ||||||||||||
Inflation indexed debt | — | 52,264,331 | — | 52,264,331 | ||||||||||||
International growth | — | 96,415,410 | — | 96,415,410 | ||||||||||||
International index | — | 32,206,905 | — | 32,206,905 | ||||||||||||
International value | — | 102,702,666 | — | 102,702,666 | ||||||||||||
Large cap growth | — | 28,976,044 | — | 28,976,044 | ||||||||||||
Large cap index | — | 661,941,029 | — | 661,941,029 | ||||||||||||
Large cap value | — | 10,217,037 | — | 10,217,037 | ||||||||||||
Short term investments | — | 65,789,976 | — | 65,789,976 | ||||||||||||
Small-mid cap growth | — | 6,067,659 | — | 6,067,659 | ||||||||||||
Small-mid cap index | — | 264,853,839 | — | 264,853,839 | ||||||||||||
Small-mid cap value | — | 20,664,470 | — | 20,664,470 | ||||||||||||
Insurance separate account investment contract | — | 55,077,818 | — | 55,077,818 | ||||||||||||
Other | 28,060 | 218,204 | — | 246,264 | ||||||||||||
$ | 1,847,720,969 | $ | 2,036,518,842 | $ | — | $ | 3,884,239,811 |
December 31 | ||||||||
2014 | 2013 | |||||||
Northern Trust Collective S&P 500 Index Fund – Non Lending - Collective trust fund | $ | 689,607,489 | $ | 661,941,029 | ||||
Amgen stock | 309,990,445 | 235,164,976 | ||||||
Northern Trust Collective Extended Equity Market Index Fund - Non Lending - Collective trust fund | 248,253,418 | 264,853,839 |
Year Ended December 31 | ||||||||
2014 | 2013 | |||||||
Amgen stock | $ | 90,488,684 | $ | 59,102,899 | ||||
Common and preferred stocks | 72,161,597 | 300,185,251 | ||||||
Debt securities | 909,696 | (10,693,199 | ) | |||||
Mutual funds | 14,599,393 | 45,547,605 | ||||||
Collective trust funds | 115,979,639 | 285,585,545 | ||||||
Other | 38,154 | 566,815 | ||||||
$ | 294,177,163 | $ | 680,294,916 |
December 31 | ||||||||
2014 | 2013 | |||||||
Net assets available for benefits per the financial statements | $ | 4,227,149,413 | $ | 3,926,630,260 | ||||
Adjustment from fair value to contract value for fully benefit-responsive investment contracts | 3,402,352 | 1,891,753 | ||||||
Amounts allocated to withdrawing participants | (3,534,073 | ) | (250,785 | ) | ||||
Deemed loans | (396,949 | ) | (466,682 | ) | ||||
Net assets per the Form 5500 | $ | 4,226,620,743 | $ | 3,927,804,546 |
Year Ended December 31 2014 | ||||
Interest and dividend income | $ | 45,071,566 | ||
Net realized/unrealized gains | 294,177,163 | |||
Total net investment income per the financial statements | 339,248,729 | |||
Adjustment from fair value to contract value for fully benefit-responsive investment contracts: | ||||
Less prior year adjustment | (1,891,753 | ) | ||
Add current year adjustment | 3,402,352 | |||
Total net investment income per the Form 5500 | $ | 340,759,328 |
Year Ended December 31 2014 | ||||
Benefits paid | $ | (378,615,295 | ) | |
Investment and administrative fees | (9,525,126 | ) | ||
Total distributions per the financial statements | (388,140,421 | ) | ||
Add prior year amounts allocated to withdrawing participants | 250,785 | |||
Less current year amounts allocated to withdrawing participants | (3,534,073 | ) | ||
Add prior year deemed loan balance | 466,682 | |||
Less current year deemed loan balance | (396,949 | ) | ||
Total distributions per the Form 5500 | $ | (391,353,976 | ) |
Identity of Issue | Description of Investment | Current Value | ||||||||
Amgen stock* | Employer Securities 1,946,076 shares | $ | 309,990,445 | |||||||
Capital Preservation Asset Class: | ||||||||||
Wells Fargo Fixed Income Fund D* | Collective Trust Fund 7,431,718 units | $ | 95,608,307 | |||||||
Wells Fargo Fixed Income Fund F* | Collective Trust Fund 5,723,723 units | 77,330,353 | ||||||||
Wells Fargo Stable Return Fund G* | Collective Trust Fund 1,307,319 units | 68,511,071 | ||||||||
Metropolitan Life Insurance Company* | Insurance separate account investment contract 54,718,210 units | 56,619,659 | ||||||||
NT Collective Short Term Investment Fund* | Collective Trust Fund 19,404,782 units | 19,404,782 | ||||||||
Wells Fargo Fixed Income Fund L* | Collective Trust Fund 1,269,960 units | 15,112,518 | ||||||||
Transamerica Premier Life Insurance Company* | Wrapper Contract | 119,436 | ||||||||
Metropolitan Life Insurance Company* | Insurance separate account investment contract | 15,444 | ||||||||
American General Life Insurance Company* | Wrapper Contract | — | ||||||||
Total Capital Preservation Asset Class | 332,721,570 | |||||||||
Emerging Markets Equity Asset Class: | ||||||||||
JP Morgan Emerging Markets Equity Focus Fund* | Collective Trust Fund 1,649,956 units | 28,412,246 | ||||||||
Blackrock FTSE RAFI Emerging Index Non Lendable Fund F* | Collective Trust Fund 2,723,341 units | 27,449,094 | ||||||||
Artisan Emerging Markets/Ins | Mutual Fund 2,246,347 shares | 26,709,070 | ||||||||
NT Collective Emerging Markets Fund - Non Lending* | Collective Trust Fund 35,113 units | 5,238,617 | ||||||||
Total Emerging Markets Equity Asset Class | 87,809,027 | |||||||||
Fixed Income Asset Class: | ||||||||||
NT Collective Aggregate Bond Index Fund - Non Lending* | Collective Trust Fund 1,175,680 units | 154,695,944 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 02/15/2021 | Government Bond 5,755,000 units | 5,104,239 | ||||||||
NT Collective Short Term Investment Fund* | Collective Trust Fund 3,804,907 units | 3,804,907 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 05/15/2018 | Government Bond 3,125,000 units | 2,991,425 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 05/15/2023 | Government Bond 3,460,000 units | 2,872,938 | ||||||||
United States Treasury Bonds Inflation Index 5.500% Due 8/15/2028 | Government Bond 2,000,000 units | 2,730,624 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 11/15/2022 | Government Bond 2,500,000 units | 2,110,070 | ||||||||
Fannie Mae Pool #466430 3.37% Due 11/01/2020 | Government Mortgage Backed Security 1,368,106 units | 1,516,257 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 02/15/2023 | Government Bond 1,745,000 units | 1,458,799 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 05/15/2021 | Government Bond 1,630,000 units | 1,433,019 | ||||||||
United States Treasury SEC Stripped Interest Payment 0% Due 08/15/2021 | Government Bond 1,505,000 units | 1,316,178 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 11/15/2021 | Government Bond 1,475,000 units | 1,280,043 | ||||||||
United States Treasury SEC Stripped Interest Payment 00517 Due 02/15/2029 | Government Bond 1,820,000 units | 1,261,739 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 02/15/2020 | Government Bond 1,370,000 units | 1,252,258 | ||||||||
United States Treasury Notes .375% Due 5/31/2016 | Government Bond 1,250,000 units | 1,249,219 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 05/15/2022 | Government Bond 1,365,000 units | 1,167,300 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 08/15/2020 | Government Bond 1,250,000 units | 1,124,856 | ||||||||
Fannie Mae Remic Trust 2010-142 Variable Rate Due 12/25/2040 | Government Mortgage Backed Security 1,000,000 units | 1,101,779 | ||||||||
Fannie Mae Pool #466430 3.37% Due 11/01/2020 | Government Mortgage Backed Security 1,000,000 units | 1,060,505 | ||||||||
Fannie Mae Pool #465769 3.96% Due 08/01/2020 | Government Mortgage Backed Security 967,742 units | 1,053,914 | ||||||||
United States Treasury Notes 3% Due 02/28/17 | Government Bond 990,000 units | 1,037,489 | ||||||||
Fannie Mae Pool #AV5051 4.50% Due 02/01/2044 | Government Mortgage Backed Security 915,617 units | 1,013,935 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 11/15/2028 | Government Bond 1,250,000 units | 873,761 | ||||||||
Fannie Mae Pool #AT5915 4% Due 06/01/2043 | Government Mortgage Backed Security 707,890 units | 763,198 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 02/15/2026 | Government Bond 1,000,000 units | 761,826 | ||||||||
United States Treasury Notes 1.375% Due 12/31/2018 | Government Bond 750,000 units | 747,071 |
Identity of Issue | Description of Investment | Current Value | ||||||||
Fannie Mae Pool #AM2674 2.61% Due 03/01/2023 | Government Mortgage Backed Security 745,000 units | 746,451 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 02/15/2027 | Government Bond 1,000,000 units | 736,858 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 11/15/2027 | Government Bond 1,000,000 units | 721,040 | ||||||||
Fannie Mae Pool #MA0214 5% Due 10/01/2029 | Government Mortgage Backed Security 648,777 units | 718,898 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 3677 4.5% Due 05/15/2040 | Government Mortgage Backed Security 645,000 units | 699,005 | ||||||||
Fannie Mae Pool #AM2501 1.77% Due 02/01/2020 | Government Mortgage Backed Security 703,871 units | 698,720 | ||||||||
Federal Home Loan Mortgage Corporation Pool #K037 3.49% Due 01/25/2024 | Government Mortgage Backed Security 650,000 units | 691,646 | ||||||||
Federal Home Loan Mortgage Corporation Gold Pool U9-0291 4% Due 10/01/2042 | Government Mortgage Backed Security 633,368 units | 682,469 | ||||||||
Fannie Mae Pool #MA1462 3.5% Due 06/01/2043 | Government Mortgage Backed Security 649,100 units | 678,580 | ||||||||
United States Treasury 0% Due 02/15/2030 | Government Bond 1,000,000 units | 671,737 | ||||||||
Ginnie Mae 5.5% Due 06/20/2035 | Government Mortgage Backed Security 594,080 units | 652,924 | ||||||||
DT Auto Owner Trust 7% Due 04/16/2018 | Asset Backed Security 643,000 units | 642,611 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 2334 Class KB 6.5% Due 05/15/2028 | Government Mortgage Backed Security 565,847 units | 635,078 | ||||||||
Ginnie Mae Pool #783867 6.00% Due 8/15/2036 | Government Mortgage Backed Security 548,856 units | 634,747 | ||||||||
United States Treasury SEC Stripped Interest Payment 6.5% Due 11/15/26 | Government Bond 850,000 units | 631,875 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 7307 3% Due 8/15/2044 | Government Mortgage Backed Security 612,520 units | 631,866 | ||||||||
Fannie Mae Pool #Am1762 2.39% Due 12/01/2022 | Government Mortgage Backed Security 630,000 units | 628,070 | ||||||||
Fannie Mae Pool #AQ1534 3.5% Due 10/01/2032 | Government Mortgage Backed Security 590,484 units | 622,281 | ||||||||
Structured Asset Mortgage Investments II Inc. Series 2004-AR1 Class A1 Floating Rate Due 3/19/2034 | Collateralized Mortgage Obligation 627,581 units | 614,106 | ||||||||
United States Treasury Notes 1% Due 06/30/2019 | Government Bond 625,000 units | 609,912 | ||||||||
Fannie Mae Pool #AB7575 3.00% Due 01/01/2043 | Government Mortgage Backed Security 566,004 units | 573,590 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 4324 Class AY 3% Due 04/15/2029 | Government Mortgage Backed Security 568,738 units | 573,503 | ||||||||
Federal Home Loan Mortgage Corporation Gold Pool U89009 3.5% Due 09/01/2032 | Government Mortgage Backed Security 539,598 units | 567,175 | ||||||||
Ginnie Mae 2007-035 6% Due 06/20/2037 | Government Mortgage Backed Security 500,000 units | 558,892 | ||||||||
Fannie Mae Pool #AM2711 2.57% Due 03/01/2023 | Government Mortgage Backed Security 545,000 units | 547,848 | ||||||||
Fannie Mae Pool #AR6380 3.00% Due 02/01/2043 | Government Mortgage Backed Security 539,858 units | 546,896 | ||||||||
Fannie Mae Pool #AM1990 2.33% Due 01/01/2023 | Government Mortgage Backed Security 550,000 units | 545,055 | ||||||||
Fannie Mae Pool #AQ1607 3.5% Due 11/01/2032 | Government Mortgage Backed Security 510,507 units | 537,945 | ||||||||
Federal Home Loan Mortgage Corporation Pool #Al2293 4.374% Due 06/01/2021 | Government Mortgage Backed Security 478,901 units | 534,513 | ||||||||
Federal Home Loan Mortgage Corporation Series 2899 4% Due 12/15/2019 | Government Mortgage Backed Security 500,000 units | 527,322 | ||||||||
Ginnie Mae 5.25% Due 03/20/2038 | Government Mortgage Backed Security 482,000 units | 524,623 | ||||||||
Fannie Mae Pool #468559 4.01% Due 08/01/2021 | Government Mortgage Backed Security 475,474 units | 522,054 | ||||||||
Federal National Mortgage Association Pool #Al2965 2.667% Due 12/01/2022 | Government Mortgage Backed Security 512,280 units | 520,604 | ||||||||
Fannie Mae Pool #AR7961 3.5% Due 03/01/2033 | Government Mortgage Backed Security 491,143 units | 517,540 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 05/15/2020 | Government Bond 570,000 units | 516,837 | ||||||||
Ginnie Mae 5% Due 03/16/2034 | Government Mortgage Backed Security 460,000 units | 515,312 | ||||||||
Federal National Mortgage Association Pool #Al0561 3.738% Due 06/01/2018 | Government Mortgage Backed Security 474,813 units | 505,230 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 3895 4.5% Due 07/15/2041 | Government Mortgage Backed Security 450,000 units | 500,143 | ||||||||
Fannie Mae Pool #AM3307 2.85% Due 05/01/2023 | Government Mortgage Backed Security 482,474 units | 493,593 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 05/15/2022 | Government Bond 570,000 units | 490,881 | ||||||||
Federal Home Loan Mortgage Corporation Pool #S0/6297 3.5% Due 09/15/2042 | Government Mortgage Backed Security 476,627 units | 488,472 | ||||||||
Fannie Mae Pool #MA1373 3.50% Due 03/01/2043 | Government Mortgage Backed Security 452,009 units | 471,862 | ||||||||
Ginnie Mae 6% Due 11/16/2032 | Government Mortgage Backed Security 407,160 units | 462,501 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 3662 5% Due 04/15/2040 | Government Mortgage Backed Security 420,000 units | 462,495 | ||||||||
Fannie Mae Pool #471834 1.4% Due 07/01/2017 | Government Mortgage Backed Security 455,000 units | 455,810 | ||||||||
Ginnie Mae Pool 2013-H05 Remic Pass-Through Class FB Floating Rate 02/20/2062 | Government Mortgage Backed Security 454,542 units | 454,886 | ||||||||
Federal Home Loan Mortgage Corporation Pool #G0-7239 3.00% Due 12/01/2042 | Government Mortgage Backed Security 442,661 units | 448,088 | ||||||||
Fannie Mae 3.726% Due 06/25/2021 | Government Mortgage Backed Security 410,000 units | 442,127 | ||||||||
Fannie Mae Pool #AM3301 2.35% Due 05/01/2023 | Government Mortgage Backed Security 446,162 units | 441,857 | ||||||||
Fannie Mae Remic Series 2003-W2 5.9% Due 07/25/2042 | Government Mortgage Backed Security 391,949 units | 440,693 | ||||||||
Fannie Mae Pool #467025 3.38% Due 01/01/2018 | Government Mortgage Backed Security 410,000 units | 431,703 | ||||||||
Fannie Mae Series 2013-M7 Class A2 2.28% Due 12/25/2022 | Government Mortgage Backed Security 441,000 units | 431,003 |
Identity of Issue | Description of Investment | Current Value | ||||||||
Fannie Mae 1.80057001114% Due 12/25/2019 | Government Mortgage Backed Security 425,000 units | 424,051 | ||||||||
Fannie Mae Series 2002-86 6% Due 09/25/2032 | Government Mortgage Backed Security 380,878 units | 421,606 | ||||||||
Fannie Mae Pool #465973 3.59% Due 10/01/2020 | Government Mortgage Backed Security 392,859 units | 420,838 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 4168 Class JA 3.5% Due 02/15/2043 | Government Mortgage Backed Security 400,603 units | 416,173 | ||||||||
Fannie Mae Pool #AM5473 3.76% Due 03/01/2024 | Government Mortgage Backed Security 385,000 units | 416,119 | ||||||||
Fannie Mae Series 2012-M8 1.52042% Due 04/25/2018 | Government Mortgage Backed Security 414,141 units | 414,409 | ||||||||
United States Treasury Bonds 8.125% Due 02/15/2021 | Government Bond 300,000 units | 412,734 | ||||||||
Fannie Mae Pool #MA1866 4.50% Due 04/01/2044 | Government Mortgage Backed Security 372,236 units | 412,476 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 2901 4.5% Due 12/15/2019 | Government Mortgage Backed Security 380,000 units | 411,404 | ||||||||
Fannie Mae Remic Series 416 Class A300 3% Due 11/25/2042 | Government Mortgage Backed Security 408,423 units | 406,758 | ||||||||
National Credit Union Association Guaranteed Trust 2010-R3 Due 12/06/2020 | Government Mortgage Backed Security 397,904 units | 401,696 | ||||||||
Fannie Mae Series 2009-W1 6% Due 12/25/2049 | Government Mortgage Backed Security 359,871 units | 399,573 | ||||||||
Fannie Mae Pool #467059 3.81% Due 01/01/2019 | Government Mortgage Backed Security 362,682 units | 387,700 | ||||||||
Fannie Mae Variable Rate Due 07/25/2024 | Government Mortgage Backed Security 373,000 units | 385,076 | ||||||||
Fannie Mae Pool #MA1510 4.00% Due 07/01/2043 | Government Mortgage Backed Security 352,180 units | 379,918 | ||||||||
Fannie Mae Series 2011-M2 3.645% Due 07/25/2021 | Government Mortgage Backed Security 355,000 units | 378,179 | ||||||||
Fannie Mae Pool #AM5079 3.45% Due 01/01/2024 | Government Mortgage Backed Security 355,000 units | 376,866 | ||||||||
Fannie Mae Pool #MA2010 4.00% Due 08/01/2044 | Government Mortgage Backed Security 347,300 units | 374,687 | ||||||||
Fannie Mae Pool #468564 4.06% Due 07/01/2021 | Government Mortgage Backed Security 340,000 units | 373,756 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 323 Class 300 Due 01/15/2044 | Government Mortgage Backed Security 360,008 units | 365,714 | ||||||||
Home Loan Servicing Solutions Limited Advance Receivables Trust Series 2013-T2 1.147% Due 05/16/2044 | Asset Backed Security 365,000 units | 364,635 | ||||||||
Fannie Mae Remic Series 2004-T1 6% Due 01/25/2044 | Government Mortgage Backed Security 320,051 units | 362,751 | ||||||||
Fannie Mae Pool #AM4764 3.44% Due 11/01/2023 | Government Mortgage Backed Security 339,591 units | 360,229 | ||||||||
Fannie Mae Remic Trust 2004-W12 6.5% Due 07/25/2044 | Government Mortgage Backed Security 307,421 units | 353,425 | ||||||||
Fannie Mae Remic Trust 2007-93 4.50% Due 09/25/2037 | Government Mortgage Backed Security 319,725 units | 351,272 | ||||||||
Federal Home Loan Mortgage Corporation Tranche 00839 2.615% Due 01/25/2023 | Government Mortgage Backed Security 345,000 units | 345,103 | ||||||||
Fannie Mae Remic Trust 2001-81 6.5% Due 01/25/2032 | Government Mortgage Backed Security 302,825 units | 343,437 | ||||||||
Fannie Mae Pool #MA1900 4.50% Due 04/01/2044 | Government Mortgage Backed Security 305,392 units | 338,496 | ||||||||
JP Morgan Chase Commercial Mortgage Securities Trust 2006-A4 Due 05/12/2045* | Commercial Mortgage Backed Security 320,085 units | 334,435 | ||||||||
Fannie Mae Pool #MA1900 4.50% Due 05/01/2039 | Government Mortgage Backed Security 300,804 units | 333,356 | ||||||||
Federal Home Loan Mortgage Corporation Series 2595 5% Due 04/15/2023 | Government Mortgage Backed Security 309,700 units | 331,533 | ||||||||
Fannie Mae Series 2013-96 3.5% Due 09/25/2038 | Government Mortgage Backed Security 316,871 units | 330,920 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 3415 Class TF Due 08/15/2035 | Government Mortgage Backed Security 322,175 units | 326,901 | ||||||||
United States Treasury SEC Stripped Interest Payment Due 05/15/2031 | Government Bond 470,000 units | 304,163 | ||||||||
Fannie Mae Preassign 00653 5.5% Due 03/25/2023 | Government Mortgage Backed Security 273,056 units | 297,653 | ||||||||
VNDO Mortgage Trust 2012-6 2.9950% Due 11/15/2030 | Commercial Mortgage Backed Security 295,237 units | 295,527 | ||||||||
Banc America Commercial Mortgage Inc. 2006-3 Due 07/10/2044* | Commercial Mortgage Backed Security 279,994 units | 294,692 | ||||||||
Macmo Master Asset Securitization Trust 5.5% Due 12/25/2033 | Collateralized Mortgage Obligation 277,665 units | 294,470 | ||||||||
Wachovia Bank National Association 6% Due 11/15/2017* | Corporate Bond 260,000 units | 291,437 | ||||||||
Fannie Mae Remic Series 2014-M1 Class A Floating Rate Due 07/25/2023 | Government Mortgage Backed Security 275,000 units | 288,019 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 2980 6% Due 05/15/2035 | Government Mortgage Backed Security 248,027 units | 274,671 | ||||||||
Fannie Mae Pool #466049 2.49% Due 10/01/2017 | Government Mortgage Backed Security 266,900 units | 273,984 | ||||||||
NorthStar LLC Series 2013-1 Class A Floating Rate Due 08/25/2029 | Commercial Mortgage Backed Security 273,266 units | 273,271 | ||||||||
United States Treasury Bonds 4.24% Due 05/15/2039 | Government Bond 210,000 units | 269,932 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 2072 6.5% Due 07/15/2028 | Government Mortgage Backed Security 243,020 units | 269,835 | ||||||||
United States Treasury Bonds 4.5% Due 02/15/2036 | Government Bond 200,000 units | 266,766 | ||||||||
Trafigura Securitizations Finance PLC Floating Rate Due 10/15/2021 | Asset Backed Security 266,000 units | 266,105 | ||||||||
Fannie Mae Preassign 00166 6.5% Due 08/25/2036 | Government Mortgage Backed Security 233,821 units | 265,537 | ||||||||
Federal Home Loan Mortgage Corporation Series 3507 5% Due 03/15/2036 | Government Mortgage Backed Security 248,948 units | 263,210 | ||||||||
JP Morgan Chase Commercial Mortgage-Backed Securities Corporation Series 2006-Ldp6 Variable Rate Due 04/15/2043* | Commercial Mortgage Backed Security 250,000 units | 261,380 | ||||||||
UBS Commercial Mortgage Trust 2012-C1 Variable Rate Due 05/10/2045 | Commercial Mortgage Backed Security 250,000 units | 261,347 | ||||||||
UBS AG Stamford Branch 3.875% Due 01/15/2015 | Corporate Bond 260,000 units | 260,275 |
Identity of Issue | Description of Investment | Current Value | ||||||||
GS Mortgage Securities Corporation Trust 2011-GC5 Due 08/10/2044 | Commercial Mortgage Backed Security 245,000 units | 258,336 | ||||||||
Toyota Motor Credit Corporation 2% Due 09/15/2016 | Corporate Bond 250,000 units | 254,533 | ||||||||
Fannie Mae Remic Series 2013-6 Class GI 09/25/2032 | Government Mortgage Backed Security 2,100,563 units | 253,861 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 3087 5.5% Due 12/15/2025 | Government Mortgage Backed Security 226,253 units | 249,326 | ||||||||
Stadshypotek AB (publ) 1.875% Due 10/02/2019 | Corporate Bond 250,000 units | 246,933 | ||||||||
Fannie Mae Remic Series 2008-75 4.5% Due 09/25/2023 | Government Mortgage Backed Security 233,483 units | 244,210 | ||||||||
Fannie Mae Tranche 00743 3.5% Due 10/25/2037 | Government Mortgage Backed Security 234,062 units | 243,933 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 3005 5% Due 07/15/2025 | Government Mortgage Backed Security 222,380 units | 242,867 | ||||||||
Fannie Mae Pool #890231 5% Due 07/01/2025 | Government Mortgage Backed Security 221,122 units | 240,129 | ||||||||
Ginnie Mae 0% Due 12/20/2040 | Government Mortgage Backed Security 282,250 units | 240,004 | ||||||||
Merrill Lynch Mortgage Investors, Inc. Series 2003-5 Class-A1 Due 10/25/2028* | Collateralized Mortgage Obligation 240,466 units | 238,789 | ||||||||
CPS Auto 1.54% Due 07/16/2018 | Asset Backed Security 238,263 units | 238,470 | ||||||||
Citigroup/Deutsche Bank Commercial 2005-CD1 Variable Rate Due 07/15/2044 | Commercial Mortgage Backed Security 230,000 units | 236,115 | ||||||||
UBS Commercial Mortgage 2007 C7 Variable Rate Mortgage Pass Thru Class A/3 09/15/2045 | Commercial Mortgage Backed Security 214,194 units | 235,325 | ||||||||
Wachovia Corporation 5.75% Due 02/01/2018* | Corporate Bond 210,000 units | 235,154 | ||||||||
Oracle Corporation 3.625% Due 07/15/2023 | Corporate Bond 224,000 units | 234,911 | ||||||||
Residential Accredit Loans, Inc. Pass-Through Trust Series 2004-QS7 5.5% Due 05/25/2034 | Collateralized Mortgage Obligation 226,976 units | 232,407 | ||||||||
Ginnie Mae 2004-30 5.5% Due 02/20/2034 | Government Mortgage Backed Security 216,713 units | 232,190 | ||||||||
Wachovia Bank Commercial Mortgage Pass-Through Due 07/15/2045* | Commercial Mortgage Backed Security 221,678 units | 232,181 | ||||||||
Fannie Mae Pool #Ap0645 3.5% Due 07/01/2032 | Government Mortgage Backed Security 220,096 units | 231,921 | ||||||||
Anadarko Petroleum Corporation 6.45% Due 09/15/2036 | Corporate Bond 190,000 units | 228,322 | ||||||||
Nordea Bank 1.625% Due 05/15/2018 | Corporate Bond 225,000 units | 222,860 | ||||||||
Banc America Commercial Mortgage Inc. 2005-3 Pass-Through 4.727% Due 07/10/2043* | Commercial Mortgage Backed Security 220,000 units | 222,774 | ||||||||
HSBC Bank PLC 4.75% Due 01/19/2021 | Corporate Bond 200,000 units | 222,648 | ||||||||
General Electric Capital Corporation 2.25% Due 11/19/2015 | Corporate Bond 219,000 units | 222,005 | ||||||||
Ginnie Mae Pool 2012-84 Class LI I-O 4% Due 05/16/2042 | Government Mortgage Backed Security 1,388,577 units | 220,046 | ||||||||
Fannie Mae Series 417 Class C11 2.5% Due 2/25/2028 | Government Mortgage Backed Security 2,179,216 units | 216,902 | ||||||||
UBS-Bank of America Merrill Lynch Trust Series 2012-Wrm 3.663% Due 06/10/2030* | Commercial Mortgage Backed Security 211,000 units | 216,433 | ||||||||
AT&T Inc. 3.875% Due 08/15/2021 | Corporate Bond 205,000 units | 214,493 | ||||||||
The Goldman Sachs Group, Inc. 5.375% Due 03/15/2020 | Corporate Bond 190,000 units | 212,932 | ||||||||
JP Morgan Mortgage Trust Series 2004-A3 Due 07/25/2034* | Collateralized Mortgage Obligation 214,522 units | 212,546 | ||||||||
Federal Home Loan Mortgage Corporation Series 3852 Floating Rate Due 05/15/2041 | Government Mortgage Backed Security 200,270 units | 209,204 | ||||||||
Fannie Mae 1.43% Due 03/25/2037 | Government Mortgage Backed Security 1,246,840 units | 206,621 | ||||||||
UBS-Barclays Commercial Mortgage Trust 2012-C2 3.52500009537% Due 05/10/2063 | Commercial Mortgage Backed Security 197,600 units | 206,315 | ||||||||
Fannie Mae 2006-114 5.5% Due 10/25/2035 | Government Mortgage Backed Security 196,045 units | 203,126 | ||||||||
Ford Credit Auto Owner .82% Due 12/15/2017 | Asset Backed Security 201,000 units | 201,240 | ||||||||
First Horizon Mortgage Pass-Through Trust Series 2004-AR6 4.75% Due 12/25/34 | Collateralized Mortgage Obligation 200,963 units | 201,148 | ||||||||
United States Treasury Notes 4% Due 08/15/2018 | Government Bond 180,000 units | 197,395 | ||||||||
Sequoia Mortgage Trust 2004-1 Floating Rate Due 11/20/2034 | Collateralized Mortgage Obligation 205,335 units | 196,212 | ||||||||
Federal Home Loan Mortgage Corporation Series 3542 Class N 0% Due 07/15/2036 | Government Mortgage Backed Security 210,869 units | 195,975 | ||||||||
Morgan Stanley Trust 2012-IO Remic Pass-Through 1% Due 03/27/2051 | Collateralized Mortgage Obligation 196,212 units | 195,966 | ||||||||
Homestar Mortgage Acceptance Corporation Series 2004-4 Class A3 Floating Rate Due 09/25/2034 | Collateralized Mortgage Obligation 190,622 units | 189,098 | ||||||||
Chase Mortgage Financial Trust Series 2007-A1 Pass-Through Due 02/25/2037 | Collateralized Mortgage Obligation 186,444 units | 186,327 | ||||||||
HLSS Servicer Advance Receivables Series 2013-T1 Class A2T1 1.4953% Due 01/16/2046 | Asset Backed Security 186,000 units | 185,851 | ||||||||
Springleaf Mortgage Loan Trust 2013-2 Class M-/1 Variable Rate Due 12/25/2065 | Collateralized Mortgage Obligation 181,000 units | 184,664 | ||||||||
Nissan Auto 1.11% Due 05/15/2019 | Asset Backed Security 182,000 units | 181,548 | ||||||||
WFRBS Commercial Mortgage Trust Variable Rate Due 03/15/2045 | Commercial Mortgage Backed Security 190,000 units | 181,169 | ||||||||
Merrill Lynch Mortgage Investors, Inc. Series 2004-B Class 1 Due 05/25/2029* | Collateralized Mortgage Obligation 189,290 units | 180,492 | ||||||||
Springleaf Mortgage Loan Trust 2013-2 Class M-2 Variable Rate 12/25/2065 | Collateralized Mortgage Obligation 175,000 units | 180,159 | ||||||||
UBS Commercial Mortgage Income Only Trust 2012-C1 2.561868% Due 05/10/2045 | Commercial Mortgage Backed Security 1,504,173 units | 176,163 | ||||||||
HSBC Holdings PLC 4% Due 03/30/2022 | Corporate Bond 163,000 units | 173,480 |
Identity of Issue | Description of Investment | Current Value | ||||||||
Morgan Stanley 5.75% Due 01/25/2021 | Corporate Bond 150,000 units | 172,193 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 3211 6% Due 12/15/2035 | Government Mortgage Backed Security 159,978 units | 169,753 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 4030 Income Only 3.50% Due 04/15/2027 | Government Mortgage Backed Security 1,493,749 units | 169,579 | ||||||||
Fannie Mae Pool #735070 6.5% Due 10/01/2024 | Government Mortgage Backed Security 148,590 units | 169,217 | ||||||||
Wells Fargo & Company 4.48% Due 01/16/2024* | Corporate Bond 158,000 units | 168,460 | ||||||||
Bank of America Corporation 4.125% Due 01/22/2024* | Corporate Bond 160,000 units | 168,025 | ||||||||
CPS Auto Receivables Trust 2013-C Class A 1.64% Due 04/16/2018 | Asset Backed Security 166,723 units | 166,871 | ||||||||
Conoco Inc. 6.95% Due 04/15/2029 | Corporate Bond 125,000 units | 166,523 | ||||||||
Master Adjustable Rate Mortgages Trust 2004-8 Due 08/25/2034 | Collateralized Mortgage Obligation 165,897 units | 164,106 | ||||||||
Springleaf Mortgage Loan Trust 2013-1A Class A 1.27% Due 06/25/2058 | Collateralized Mortgage Obligation 162,689 units | 162,131 | ||||||||
Royal Bank of Canada 1.2% Due 09/19/2017 | Corporate Bond 163,000 units | 162,069 | ||||||||
Bayview Commercial Asset Trust Variable Rate Due 11/25/2035 | Commercial Mortgage Backed Security 178,111 units | 161,533 | ||||||||
Cox Communications, Inc. 3.85% Due 02/01/2025 | Corporate Bond 160,000 units | 161,507 | ||||||||
Cobalt CMBS Commercial Mortgage Trust 2006-C1 Pass-Through 5.186% Due 08/01/48 | Commercial Mortgage Backed Security 152,993 units | 161,223 | ||||||||
Trafigura Securitisation Finance PLC Due 10/15/2015 | Asset Backed Security 160,000 units | 160,661 | ||||||||
Carfinance Cap Auto Trust 2014-2 Class B 2.64% Due 11/16/2020 | Asset Backed Security 160,000 units | 160,252 | ||||||||
General Electric Capital Corporation 5.5% Due 01/08/2020 | Corporate Bond 140,000 units | 160,241 | ||||||||
Fannie Mae Pool #254762 5% Due 05/01/2023 | Government Mortgage Backed Security 144,923 units | 160,000 | ||||||||
United States Treasury Notes 3.25% Due 12/31/2016 | Government Bond 150,000 units | 157,559 | ||||||||
Spectra Energy Capital 5.65% Due 03/01/2020 | Corporate Bond 141,000 units | 156,645 | ||||||||
A10 Securitization 2013-1 LLC | Commercial Mortgage Backed Security 155,842 units | 156,271 | ||||||||
Structured Asset Securities Corporation 2003-26A Pass-Through Due 09/25/2033 | Collateralized Mortgage Obligation 156,524 units | 156,035 | ||||||||
CWMBS, Inc. 5.25% Due 05/25/2034 | Collateralized Mortgage Obligation 150,527 units | 155,786 | ||||||||
Fannie Mae Pool #576557 6.5% Due 06/01/2019 | Government Mortgage Backed Security 133,900 units | 152,489 | ||||||||
Barrick North America Finance LLC 4.4% Due 05/30/2021 | Corporate Bond 150,000 units | 151,463 | ||||||||
Fannie Mae Pool #256601 6% Due 02/01/2027 | Government Mortgage Backed Security 132,148 units | 149,879 | ||||||||
Morgan Stanley Capital I Trust 2011-C3 4.054% Due 07/15/2049 | Commercial Mortgage Backed Security 141,000 units | 149,798 | ||||||||
PRICOA Global Funding 1.6% Due 05/29/2018 | Corporate Bond 150,000 units | 147,941 | ||||||||
Fannie Mae Remic Series 2013-13 Class IK 03/25/2028 | Government Mortgage Backed Security 1,490,699 units | 145,471 | ||||||||
Flagship Credit Corporation | Asset Backed Security 143,804 units | 143,923 | ||||||||
Merrill Lynch & Co., Inc. 6.875% Due 04/25/2018* | Corporate Bond 125,000 units | 143,573 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 3852 Floating Rate Due 05/15/2041 | Government Mortgage Backed Security 137,123 units | 142,153 | ||||||||
Time Warner Inc. 4.75% Due 03/29/2021 | Corporate Bond 130,000 units | 141,879 | ||||||||
Keycorp 5.1% Due 03/24/2021 | Corporate Bond 125,000 units | 141,075 | ||||||||
Niagara Mohawk Power Corporation 3.508% Due 10/01/2024 | Corporate Bond 136,000 units | 140,063 | ||||||||
Illinois State Taxable Pension 5.1% Due 06/01/2033 | Municipal/Provincial Bond 140,000 units | 139,702 | ||||||||
Citigroup Inc. 8.5% Due 05/22/2019 | Corporate Bond 110,000 units | 137,067 | ||||||||
American Credit Acceptance Receivables Series 2014-2 Class B 2.26% Due 03/10/2020 | Asset Backed Security 136,000 units | 135,869 | ||||||||
Banc of America Funding Corporation Series 2005-E Class 4-A-1 Due 03/20/2035* | Collateralized Mortgage Obligation 134,766 units | 134,701 | ||||||||
Comcast Corporation 6.5% Due 01/15/2017 | Corporate Bond 120,000 units | 132,505 | ||||||||
Bank of Montreal 2.55% Due 11/06/2022 | Corporate Bond 135,000 units | 132,416 | ||||||||
Structured Asset Securities Corporation Series 2004-6XS Due 03/25/2034 | Asset Backed Security 127,827 units | 131,179 | ||||||||
Fannie Mae Tranche .447% Due 01/25/2017 | Government Mortgage Backed Security 131,062 units | 131,128 | ||||||||
Fannie Mae Remic Trust 2007-W1 Variable Rate Due 11/25/2046 | Government Mortgage Backed Security 130,353 units | 130,695 | ||||||||
AmeriCredit Automobile Receivables Trust 2013-3 Class A 10/10/2017 | Asset Backed Security 130,183 units | 130,203 | ||||||||
Transcanada 3.75% Due 10/16/2023 | Corporate Bond 130,000 units | 130,150 | ||||||||
United States Treasury Bonds 6.375% Due 08/15/27 | Government Bond 90,000 units | 130,015 | ||||||||
Verizon Communications Inc. 4.4% Due 11/01/2034 | Corporate Bond 130,000 units | 129,218 | ||||||||
Federal Home Loan Mortgage Corporation Multiclass Series 12-K708 Floating Rate Due 01/25/2019 | Government Mortgage Backed Security 2,405,054 units | 129,113 | ||||||||
Thornburg Mortgage Securities Trust 2004-3 Pass-Through Floating Rate Due 11/30/2044 | Collateralized Mortgage Obligation 131,422 units | 127,420 | ||||||||
MetLife Global 2.5% Due 09/29/2015* | Corporate Bond 125,000 units | 126,792 | ||||||||
Credit Agricole SA 8.375% Floating Rate Due 08/15/2029 | Corporate Bond 110,000 units | 126,775 | ||||||||
Sequoia Mortgage Trust 2004-1, 2004-8 Variable Rate Due 09/20/2034 | Collateralized Mortgage Obligation 130,753 units | 126,333 | ||||||||
BP Capital Markets plc 3.814% Due 02/10/2024 | Corporate Bond 125,000 units | 125,811 |
Identity of Issue | Description of Investment | Current Value | ||||||||
Flagship Credit Auto Trust 2013-2 Class A 1.94% Due 01/15/19 | Asset Backed Security 124,784 units | 125,581 | ||||||||
Berkshire Hathaway Inc. 3.4% Due 01/31/2022 | Corporate Bond 120,000 units | 124,947 | ||||||||
PHH Mortgage Trust Series 6% Due 07/25/2038 | Collateralized Mortgage Obligation 117,183 units | 123,779 | ||||||||
Kraft Foods Group, Inc. 5.375% Due 02/10/2020 | Corporate Bond 109,000 units | 123,706 | ||||||||
Springleaf Mortgage Loan Trust Series 2012-2 Variable Rate Due 10/25/2057 | Collateralized Mortgage Obligation 122,011 units | 123,647 | ||||||||
Apple Inc. 2.4% Due 05/03/2023 | Corporate Bond 126,000 units | 122,472 | ||||||||
Residential Accredit Loans, Inc. Pass-Through Trust Series 2003-QS7 4.75% Due 04/25/2033 | Collateralized Mortgage Obligation 121,227 units | 122,187 | ||||||||
Nabors Industries Limited 4.625% Due 09/15/2021 | Corporate Bond 130,000 units | 122,140 | ||||||||
Ameriprise Financial, Inc. 4% Due 10/15/2023 | Corporate Bond 115,000 units | 121,815 | ||||||||
Hydro-Quebec Series 8.4% Due 01/15/2022 | Municipal/Provincial Bond 90,000 units | 121,090 | ||||||||
International Business Machines Corporation 7.625% Due 10/15/2018 | Corporate Bond 100,000 units | 120,563 | ||||||||
Morgan Stanley Dean Witter Capital I Trust 2003-HYB1 Variable Rate Due 02/25/2033 | Collateralized Mortgage Obligation 129,475 units | 120,517 | ||||||||
Washington Mutual Mortgage Pass-Through 2.67% Due 08/25/2033 | Collateralized Mortgage Obligation 119,811 units | 120,329 | ||||||||
Mondelez International, Inc. 4% Due 02/01/2024 | Corporate Bond 115,000 units | 120,321 | ||||||||
Ontario Province Canada 4% Due 10/07/2019 | Municipal/Provincial Bond 110,000 units | 120,304 | ||||||||
Wells Fargo Mortgage Backed Securities Variable Rate Due 09/25/2034* | Collateralized Mortgage Obligation 119,284 units | 119,907 | ||||||||
Fannie Mae Stripped Mortgage-Backed Securities Trust 410 Class 29 4% Due 05/25/2027 | Government Mortgage Backed Security 1,051,407 units | 119,818 | ||||||||
Mercedes-Benz Auto Series 2013-1 Class A 3.78% Due 08/15/2017 | Asset Backed Security 119,000 units | 119,168 | ||||||||
The Goldman Sachs Group, Inc. 7.5% Due 02/15/2019 | Corporate Bond 100,000 units | 118,946 | ||||||||
EOG Resources, Inc. 2.625% Due 03/15/2023 | Corporate Bond 124,000 units | 118,905 | ||||||||
Morgan Stanley 7.3% Due 05/13/2019 | Corporate Bond 100,000 units | 118,615 | ||||||||
General Electric Capital Corporation 5.625% Due 05/01/2018 | Corporate Bond 105,000 units | 118,149 | ||||||||
British Telecommunications PLC Step-up Due 12/15/2030 | Corporate Bond 75,000 units | 117,754 | ||||||||
Ryder System, Inc. Trust 00208 3.5% Due 06/01/2017 | Corporate Bond 113,000 units | 117,684 | ||||||||
Capital One Financial Corporation 3.75% Due 04/24/2024 | Corporate Bond 115,000 units | 117,484 | ||||||||
General Electric Capital Corporation 6% Due 08/07/2019 | Corporate Bond 100,000 units | 116,317 | ||||||||
Washington Mutual Mortgage 5.5% Due 04/25/2033 | Collateralized Mortgage Obligation 112,026 units | 115,964 | ||||||||
Wells Fargo Mortgage Backed Securities 2004-EE Trust Variable Rate Due 12/25/2034* | Collateralized Mortgage Obligation 113,987 units | 115,946 | ||||||||
Fannie Mae Pool #256556 6% Due 01/01/2027 | Government Mortgage Backed Security 101,985 units | 115,519 | ||||||||
Citigroup Commercial Mortgage Trust Series 2005-C3 Due 05/15/2043 | Commercial Mortgage Backed Security 115,000 units | 115,313 | ||||||||
Comcast Corporation 5.7% Due 07/01/2019 | Corporate Bond 100,000 units | 114,808 | ||||||||
Banc America Mortgage Securities Inc. Series 2003-3 5.5% Due 05/25/2033* | Collateralized Mortgage Obligation 111,216 units | 114,626 | ||||||||
Morgan Stanley 6.625% Due 04/01/2018 | Corporate Bond 100,000 units | 113,904 | ||||||||
Master Alternative Loan Trust 2004-3 6.25% Due 04/25/2034 | Collateralized Mortgage Obligation 107,400 units | 113,550 | ||||||||
Credit Suisse First Boston Securities Corporation Series 2006-C1 Floating Rate Due 02/15/2039 | Commercial Mortgage Backed Security 110,000 units | 113,170 | ||||||||
JP Morgan Mortgage Trust 2006-A2 3.75% Due 04/25/2036* | Collateralized Mortgage Obligation 112,203 units | 112,436 | ||||||||
Praxair, Inc. 1.25% Due 11/07/2018 | Corporate Bond 115,000 units | 112,344 | ||||||||
Amerada Hess Corporation 7.3% Due 08/15/2031 | Corporate Bond 90,000 units | 111,816 | ||||||||
Peco Energy Company 2.375% Due 09/15/2022 | Corporate Bond 115,000 units | 111,801 | ||||||||
World Omni Auto Receivables Trust Series 2012-A 1.0% Due 02/15/2017 | Asset Backed Security 111,450 units | 111,494 | ||||||||
Nordea Bank 4.875% Due 01/27/2020 | Corporate Bond 100,000 units | 111,333 | ||||||||
General Electric Capital Corporation 5.625% Due 09/15/2017 | Corporate Bond 100,000 units | 111,005 | ||||||||
Principal Life Global 2.25% Due 10/15/2018 | Corporate Bond 110,000 units | 110,803 | ||||||||
Lincoln National Corporation 6.25% Due 02/15/2020 | Corporate Bond 95,000 units | 110,228 | ||||||||
Intuit Inc. 5.75% Due 03/15/2017 | Corporate Bond 100,000 units | 109,901 | ||||||||
Norfolk Southern Corporation 2.903% Due 02/15/2023 | Corporate Bond 111,000 units | 109,725 | ||||||||
Cisco Systems, Inc. 3.625% Due 03/04/2024 | Corporate Bond 105,000 units | 109,416 | ||||||||
Ohio State University General Receipts 4.8% Due 06/01/2111 | Municipal/Provincial Bond 100,000 units | 108,853 | ||||||||
Rio Tinto Financial USA 9% Due 05/01/2019 | Corporate Bond 85,000 units | 107,539 | ||||||||
Ginnie Mae 2007-024 Remic Pass-Through Floating Rate Due 05/20/2037 | Government Mortgage Backed Security 715,251 units | 106,271 | ||||||||
Toronto Dominion Bank 2.2% Due 07/29/2015 | Corporate Bond 105,000 units | 106,022 | ||||||||
DBUBS Mortgage Trust Pass-Through Income Only Series 2011-Lc2 Class X-A 144A Due 07/10/2044 | Commercial Mortgage Backed Security 2,221,428 units | 105,769 | ||||||||
Exeter Automobile 1.29% Due 05/15/2018 | Asset Backed Security 105,166 units | 105,252 | ||||||||
Port Authority NY & NJ 5.647% Due 11/01/2040 | Municipal/Provincial Bond 85,000 units | 105,005 | ||||||||
Daimler Financial North America LLC 2.25% Due 07/31/2019 | Corporate Bond 105,000 units | 104,678 |
Identity of Issue | Description of Investment | Current Value | ||||||||
Directv Holdings LLC 4.45% Due 04/01/2024 | Corporate Bond 100,000 units | 104,630 | ||||||||
JP Morgan Mortgage Trust Series 2004-S1 5.5% Due 09/25/2034* | Collateralized Mortgage Obligation 101,086 units | 104,500 | ||||||||
EMC Corporation 2.65% Due 06/01/2020 | Corporate Bond 105,000 units | 104,495 | ||||||||
HRPT Properties Trust 6.65% Due 01/15/2018 | Corporate Bond 95,000 units | 104,387 | ||||||||
Master Alternative Loan Trust 2004-1 5.5% Pass-Through | Collateralized Mortgage Obligation 100,824 units | 103,777 | ||||||||
Devon Energy Corporation 7.95% Due 04/15/2032 | Corporate Bond 75,000 units | 103,384 | ||||||||
AIG Sun America Global Financing 6.9% Due 03/15/2032 | Corporate Bond 75,000 units | 103,270 | ||||||||
Canadian Pacific Railway Limited 7.125% Due 10/15/2031 | Corporate Bond 75,000 units | 103,148 | ||||||||
National Australia Bank Limited 3% Due 07/27/2016 | Corporate Bond 100,000 units | 103,109 | ||||||||
Schlumberger Oilfield UK PLC 4.2% Due 01/15/2021 | Corporate Bond 95,000 units | 103,073 | ||||||||
Massmutual Global Funding 3.125% Due 04/14/16 | Corporate Bond 100,000 units | 102,983 | ||||||||
Rabobank Netherlands Variable Rate Due 12/29/2049 | Corporate Bond 80,000 units |