George Putnam Balanced Fund (PGEOX)
A prudent balance of stocks and bonds since 1937
- Highlights
- Performance
- Holdings
- Expenses
Summary
Fund price |
Yesterday's close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$17.38
-0.40% ( $-0.07 ) |
$17.52
(08/15/16) |
$15.30
(02/11/16) |
Management team
Paul D. Scanlon, CFA (industry since 1986)
Strategy and process
- A balanced approach: One of the pioneering mutual funds, the fund has championed a mix of stocks and bonds for more than 75 years.
- Seeking reduced volatility: The fund's focus on high quality stocks and bonds is designed to reduce volatility for conservative and income-oriented investors.
- A rigorous process: The fund's experienced portfolio managers use rigorous fundamental investment research to find opportunities and manage risk.
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. To obtain the most recent month-end performance, visit putnam.com.
Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and Putnam Absolute Return 500 Fund and 700 Fund, and 4.00% and 3.25% for income funds (1.00% and 0.75% for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, R, T, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for Class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A, M, and T shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
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, 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. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. Data is historical. Past performance is no guarantee of future results.
Performance
Consistency of positive performance over five years
Performance represents 5-year returns in rolling quarter-end periods since inception.
22.26%
Best 5-year annualized return
(for period ending 06/30/87)
-6.23%
Worst 5-year annualized return
(for period ending 03/31/09)
9.08%
Average 5-year annualized return
Dots represent 5-year returns in rolling quarter-end periods since inception.
275 positive 5-year periods
20 negative 5-year periods
| 93% | |
| 7% |
Performance shown above does not reflect the effects of any sales charges. Click on the dots to see specific returns in each five-year period as of the date revealed. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please see below.
Total return (%) as of 06/30/16
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | 0.58% | 6.98% | 7.84% | 3.58% |
| After sales charge | -5.21% | 4.89% | 6.57% | 2.97% |
| S&P 500 Index | 3.99% | 11.66% | 12.10% | 7.42% |
| Bloomberg Barclays U.S. Aggregate Bond Index | 6.00% | 4.06% | 3.76% | 5.13% |
| Cumulative performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | 0.58% | 22.43% | 45.86% | 42.11% |
| After sales charge | -5.21% | 15.39% | 37.48% | 33.94% |
Annual performance as of 06/30/16
| 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Before sales charge | 12.25% | 0.92% | -40.30% | 25.80% | 11.15% | 2.71% | 12.36% | 17.76% | 10.48% | -1.11% |
| S&P 500 Index | 15.79% | 5.49% | -37.00% | 26.46% | 15.06% | 2.11% | 16.00% | 32.39% | 13.69% | 1.38% |
| Bloomberg Barclays U.S. Aggregate Bond Index | 4.33% | 6.97% | 5.24% | 5.93% | 6.54% | 7.84% | 4.22% | -2.02% | 5.97% | 0.55% |
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. To obtain the most recent month-end performance, visit putnam.com.
Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and Putnam Absolute Return 500 Fund and 700 Fund, and 4.00% and 3.25% for income funds (1.00% and 0.75% for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, R, T, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for Class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A, M, and T shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.
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, 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. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. Data is historical. Past performance is no guarantee of future results.
The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.
Holdings
Top 10 holdings as of 08/31/16
| Us Treasury N/B 02.0000 11/30/2020 | 3.81% |
|
|---|---|---|
| Us Treasury N/B 01.3750 09/30/2018 | 2.47% |
|
| Us Treasury N/B 01.1250 12/31/2019 | 2.00% |
|
| Apple | 2.00% |
|
| Us Treasury N/B 00.7500 03/31/2018 | 1.96% |
|
| Alphabet | 1.71% |
|
| Microsoft | 1.50% |
|
| Amazon.Com | 1.28% |
|
| Pepsico | 1.26% |
|
| Us Treasury N/B 02.7500 08/15/2042 | 1.21% |
|
| Top 10 holdings, percent of portfolio | 19.20% |
|
Full portfolio holdings as of 06/30/16
| US TREASURY N/B 02.0000 11/30/2020 | 3.90% |
|---|---|
| US TREASURY N/B 01.3750 09/30/2018 | 2.52% |
| US TREASURY N/B 01.1250 12/31/2019 | 2.04% |
| US TREASURY N/B 00.7500 03/31/2018 | 2.00% |
| APPLE INC | 1.83% |
| ALPHABET INC-CL A | 1.55% |
| MICROSOFT CORP | 1.37% |
| PEPSICO INC | 1.28% |
| AMAZON.COM INC | 1.19% |
| FNMA FN30 TBA 04.5000 07/01/2046 | 1.18% |
| AT&T INC | 1.17% |
| US TREASURY N/B 01.0000 08/31/2016 | 1.11% |
| US TREASURY N/B 02.7500 08/15/2042 | 1.09% |
| FACEBOOK INC-A | 1.04% |
| NORTHROP GRUMMAN CORP | 0.97% |
| JPMORGAN CHASE & CO | 0.94% |
| WELLS FARGO & CO | 0.89% |
| BANK OF AMERICA CORP | 0.77% |
| GENERAL DYNAMICS CORP | 0.75% |
| GILEAD SCIENCES INC | 0.73% |
| ANADARKO PETROLEUM CORP | 0.69% |
| FNMA FN30 AL7828 04.5000 11/01/2044 | 0.69% |
| CISCO SYSTEMS INC | 0.67% |
| ALLERGAN PLC | 0.65% |
| TYCO INTERNATIONAL PLC | 0.63% |
| UNION PACIFIC CORP | 0.63% |
| VISA INC-CLASS A SHARES | 0.63% |
| GNMA GII30 TBA 03.0000 08/01/2046 | 0.61% |
| COMCAST CORP-CLASS A | 0.59% |
| US TREASURY N/B 00.7500 06/30/2017 | 0.57% |
| CHEVRON CORP | 0.56% |
| HOME DEPOT INC | 0.56% |
| PHILIP MORRIS INTERNATIONAL | 0.54% |
| SHERWIN-WILLIAMS CO/THE | 0.51% |
| WALGREENS BOOTS ALLIANCE INC | 0.51% |
| AMERICAN INTERNATIONAL GROUP | 0.50% |
| AMERICAN TOWER CORP | 0.49% |
| MONSTER BEVERAGE CORP | 0.49% |
| MERCK & CO. INC. | 0.48% |
| INTL BK RECON & DEVELOP 07.6250 01/19/2023 | 0.47% |
| CHARTER COMMUNICATIONS INC-A | 0.46% |
| FHLMC FH30G G07084 04.0000 07/01/2042 | 0.46% |
| FNMA FN30 TBA 04.0000 08/01/2046 | 0.45% |
| SCHWAB (CHARLES) CORP | 0.45% |
| KRAFT HEINZ CO/THE | 0.44% |
| HONEYWELL INTERNATIONAL INC | 0.43% |
| PFIZER INC | 0.43% |
| BRISTOL-MYERS SQUIBB CO | 0.42% |
| CELGENE CORP | 0.42% |
| COSTCO WHOLESALE CORP | 0.42% |
| CVS HEALTH CORP | 0.42% |
| SYNCHRONY FINANCIAL | 0.41% |
| LEVEL 3 COMMUNICATIONS INC | 0.40% |
| PRICELINE GROUP INC/THE | 0.40% |
| ROYAL DUTCH SHELL PLC-A SHS | 0.39% |
| AMGEN INC | 0.38% |
| ELI LILLY & CO | 0.38% |
| EXELON CORP | 0.37% |
| CHUBB LTD | 0.36% |
| SALESFORCE.COM INC | 0.36% |
| ADOBE SYSTEMS INC | 0.35% |
| GNMA GII30 TBA 03.5000 07/01/2046 | 0.35% |
| GNMA GII30 TBA 03.5000 08/01/2046 | 0.35% |
| PROCTER & GAMBLE CO/THE | 0.35% |
| DANAHER CORP | 0.34% |
| NEXTERA ENERGY INC | 0.34% |
| TJX COMPANIES INC | 0.34% |
| BIOGEN INC | 0.33% |
| DR PEPPER SNAPPLE GROUP INC | 0.33% |
| EOG RESOURCES INC | 0.33% |
| HARTFORD FINANCIAL SVCS GRP | 0.33% |
| TEXAS INSTRUMENTS INC | 0.33% |
| CITIGROUP INC | 0.32% |
| EMC CORP/MA | 0.32% |
| JM SMUCKER CO/THE | 0.32% |
| BANK OF NEW YORK MELLON CORP | 0.31% |
| KKR & CO LP | 0.31% |
| JOHNSON & JOHNSON | 0.30% |
| NIKE INC -CL B | 0.30% |
| UNITED PARCEL SERVICE-CL B | 0.30% |
| BECTON DICKINSON AND CO | 0.29% |
| CONOCOPHILLIPS | 0.29% |
| LIVE NATION ENTERTAINMENT IN | 0.29% |
| MASTERCARD INC-CLASS A | 0.29% |
| NRG ENERGY INC | 0.29% |
| P G & E CORP | 0.29% |
| L-3 COMMUNICATIONS HLDGS INC | 0.28% |
| YUM BRANDS INC | 0.28% |
| COMM 2014-CR18 C 04.8956 07/15/2047 | 0.27% |
| ENI SPA | 0.27% |
| PRUDENTIAL PLC | 0.27% |
| DOLLAR GENERAL CORP | 0.26% |
| EDGEWELL PERSONAL CARE CO | 0.26% |
| FIDELITY NATIONAL INFO SERV | 0.26% |
| KROGER CO | 0.26% |
| METLIFE CAP TRST IV P/P 144A 07.8750 12/15/2037 | 0.26% |
| TIME WARNER INC | 0.26% |
| AGILENT TECHNOLOGIES INC | 0.25% |
| HANESBRANDS INC | 0.25% |
| NVIDIA CORP | 0.25% |
| RANGE RESOURCES CORP | 0.25% |
| CALPINE CORP | 0.24% |
| CAPITAL ONE FINANCIAL CORP | 0.24% |
| CR BARD INC | 0.24% |
| HILTON WORLDWIDE HOLDINGS IN | 0.24% |
| INTUITIVE SURGICAL INC | 0.24% |
| LAM RESEARCH CORP | 0.24% |
| MOLSON COORS BREWING CO -B | 0.24% |
| US TREASURY N/B 03.7500 11/15/2043 | 0.24% |
| WALT DISNEY CO/THE | 0.24% |
| MANITOWOC FOODSERVICE IN | 0.23% |
| RE/MAX HOLDINGS INC-CL A | 0.23% |
| UBS AG REGS 05.1250 05/15/2024 | 0.23% |
| AMERICAN WATER WORKS CO INC | 0.22% |
| ASSURED GUARANTY LTD | 0.22% |
| CGCMT 2007-C6 A4 05.9007 12/10/2049 | 0.22% |
| CIGNA CORP | 0.22% |
| HP INC | 0.22% |
| PIONEER NAT RES CO | 0.22% |
| QUALCOMM INC | 0.22% |
| ING BANK NV P/P 144A 05.8000 09/25/2023 | 0.21% |
| MEDTRONIC PLC | 0.21% |
| MYLAN NV | 0.21% |
| OCCIDENTAL PETROLEUM CORP | 0.21% |
| RAYTHEON COMPANY | 0.21% |
| SIMON PROPERTY GROUP INC | 0.21% |
| ALLIANCEBERNSTEIN HOLDING LP | 0.20% |
| KEYCORP | 0.20% |
| MEDIVATION INC | 0.20% |
| TESARO INC | 0.20% |
| ANHEUSER-BUSCH INBEV FIN 04.9000 02/01/2046 | 0.19% |
| COMPUTER SCIENCES CORP | 0.19% |
| JOHNSON CONTROLS INC | 0.19% |
| MICRON TECHNOLOGY INC | 0.19% |
| SEMPRA ENERGY | 0.19% |
| UNITED TECHNOLOGIES CORP | 0.19% |
| AMERICAN AIRLINES GROUP INC | 0.18% |
| AMERIPRISE FINANCIAL INC | 0.18% |
| AVALONBAY COMMUNITIES INC | 0.18% |
| BOSTON PROPERTIES INC | 0.18% |
| CBS CORP-CLASS B NON VOTING | 0.18% |
| ENTERPRISE PRODUCTS PARTNERS | 0.18% |
| MARATHON OIL CORP | 0.18% |
| SUNCOR ENERGY INC | 0.18% |
| YAHOO! INC | 0.18% |
| ALIBABA GROUP HOLDING-SP ADR | 0.17% |
| DOW CHEMICAL CO/THE | 0.17% |
| DU PONT (E.I.) DE NEMOURS | 0.17% |
| FHLMC FH30G G08537 03.0000 07/01/2043 | 0.17% |
| FNMA FN30 BC1155 03.0000 06/01/2046 | 0.17% |
| FNMA FN30 TBA 03.0000 07/01/2046 | 0.17% |
| FNMA FN30 TBA 03.0000 08/01/2046 | 0.17% |
| GAMING AND LEISURE PROPERTIE | 0.17% |
| HALLIBURTON CO | 0.17% |
| PPG INDUSTRIES INC | 0.17% |
| PUBLIC STORAGE | 0.17% |
| TE CONNECTIVITY LTD | 0.17% |
| US TREASURY N/B 02.1250 05/15/2025 | 0.17% |
| COOPER COS INC/THE | 0.16% |
| EQUINIX INC | 0.16% |
| ERAC USA FINANCE LLC P/P 144A 07.0000 10/15/2037 | 0.16% |
| HARTFORD FINL SVCS GRP 06.6250 03/30/2040 | 0.16% |
| MASS MUTUAL LIFE P/P 144A 08.8750 06/01/2039 | 0.16% |
| ORACLE CORP | 0.16% |
| VENTAS INC | 0.16% |
| WYNN RESORTS LTD | 0.16% |
| AMERICAN ELECTRIC POWER | 0.15% |
| BROADCOM LTD | 0.15% |
| CARDINAL HEALTH INC | 0.15% |
| COTY INC-CL A | 0.15% |
| CTRIP.COM INTERNATIONAL-ADR | 0.15% |
| FNMA FN30 AL6919 05.5000 01/01/2038 | 0.15% |
| GENERAL GROWTH PROPERTIES | 0.15% |
| GENERAL MILLS INC | 0.15% |
| MONSANTO CO | 0.15% |
| MSC 2012-C4 D P/P 144A 05.7045 03/15/2045 | 0.15% |
| PENN NATIONAL GAMING INC | 0.15% |
| PROGRESSIVE CORP 06.7000 06/15/2037 | 0.15% |
| REYNOLDS AMERICAN INC | 0.15% |
| WAL-MART STORES INC | 0.15% |
| WESTROCK MWV LLC 08.2000 01/15/2030 | 0.15% |
| APACHE CORP | 0.14% |
| CBS CORP 07.8750 07/30/2030 | 0.14% |
| DIAMOND 1 FIN/DIAMON P/P 144A 05.4500 06/15/2023 | 0.14% |
| FNMA FN30 AU1625 03.5000 07/01/2043 | 0.14% |
| FORD MOTOR COMPANY 07.7500 06/15/2043 | 0.14% |
| GE CAP INTL FUNDING P/P 144A 04.4180 11/15/2035 | 0.14% |
| MEAD JOHNSON NUTRITION CO | 0.14% |
| RESTAURANT BRANDS INTERN | 0.14% |
| ROLLINS INC | 0.14% |
| ROYAL BK SCOTLND GRP PLC USD 08.0000 12/29/2049 | 0.14% |
| STATE STREET CAP TR IV 01.6525 06/15/2037 | 0.14% |
| BRIGHT HORIZONS FAMILY SOLUT | 0.13% |
| GNMA GII30 AL4508 03.5000 02/20/2045 | 0.13% |
| PENTAIR PLC | 0.13% |
| SIEMENS AG | 0.13% |
| WEC ENERGY GROUP INC 06.2500 05/15/2067 | 0.13% |
| 21ST CENTURY FOX AMERICA 07.7500 01/20/2024 | 0.12% |
| ADVANCE AUTO PARTS | 0.12% |
| AIR PRODUCTS & CHEMICALS INC | 0.12% |
| CENOVUS ENERGY INC | 0.12% |
| CHARTER COMM OPT LLC P/P 144A 06.4840 10/23/2045 | 0.12% |
| EDISON INTERNATIONAL | 0.12% |
| EXPRESS SCRIPTS HOLDING CO | 0.12% |
| FIVE BELOW | 0.12% |
| HEWLETT PACKARD ENTERPRIS | 0.12% |
| INVESCO LTD | 0.12% |
| LLOYDS BANKING GROUP P/P 144A 05.3000 12/01/2045 | 0.12% |
| NORDEA BANK AB P/P 144A 04.8750 05/13/2021 | 0.12% |
| ORACLE CORP 02.6500 07/15/2026 | 0.12% |
| SEALED AIR CORP | 0.12% |
| STANDARD CHARTERED P/P 144A 07.0140 07/29/2049 | 0.12% |
| AXALTA COATING SYSTEMS LTD | 0.11% |
| CAESARSTONE LTD | 0.11% |
| CAMDEN PROPERTY TRUST 04.8750 06/15/2023 | 0.11% |
| JP MORGAN CHASE BANK 06.0000 10/01/2017 | 0.11% |
| KERR-MCGEE CORP 07.8750 09/15/2031 | 0.11% |
| PARKER-HANNIFIN CORP 06.2500 05/15/2038 | 0.11% |
| AETNA INC | 0.10% |
| ALBEMARLE CORP | 0.10% |
| DUKE REALTY LP 04.3750 06/15/2022 | 0.10% |
| EQUITY LIFESTYLE PROPERTIES | 0.10% |
| FEDERAL REALTY INVS TRUST | 0.10% |
| FIRSTENERGY TRANSMIS P/P 144A 05.4500 07/15/2044 | 0.10% |
| GENERAL ELECTRIC CO 05.0000 12/29/2049 | 0.10% |
| GEORGIA-PACIFIC LLC 07.7500 11/15/2029 | 0.10% |
| PRUDENTIAL FINANCIAL INC 05.2000 03/15/2044 | 0.10% |
| REALTY INCOME CORP 04.6500 08/01/2023 | 0.10% |
| SANTANDER ISSUANCES USD 05.1790 11/19/2025 | 0.10% |
| US TREASURY N/B 00.7500 12/31/2017 | 0.10% |
| AFLAC INC 06.9000 12/17/2039 | 0.09% |
| AMERICAN INTL GROUP 08.1750 05/15/2058 | 0.09% |
| AON PLC USD 04.2500 12/12/2042 | 0.09% |
| BARCLAYS BANK PLC P/P 144A 10.1790 06/12/2021 | 0.09% |
| BOSTON SCIENTIFIC CORP | 0.09% |
| CAMPBELL SOUP CO 08.8750 05/01/2021 | 0.09% |
| CANTOR FITZGERALD LP P/P 144A 06.5000 06/17/2022 | 0.09% |
| COMM 2012-CR1 AM 03.9120 05/15/2045 | 0.09% |
| DIAGEO INVESTMENT CORP 08.0000 09/15/2022 | 0.09% |
| EDWARDS LIFESCIENCES CORP | 0.09% |
| ELECTRICITE DE FRANC P/P 144A 06.9500 01/26/2039 | 0.09% |
| GENERAL MOTORS CO 06.7500 04/01/2046 | 0.09% |
| HENRY SCHEIN INC | 0.09% |
| HIGHWOODS REALTY LP 05.8500 03/15/2017 | 0.09% |
| LEGRAND FRANCE USD 08.5000 02/15/2025 | 0.09% |
| NEWELL BRANDS INC 04.2000 04/01/2026 | 0.09% |
| NEWMONT MINING CORP | 0.09% |
| NEXTERA ENERGY PARTNERS LP | 0.09% |
| OWENS CORNING 09.0000 06/15/2019 | 0.09% |
| SBA TOWER TRUST P/P 144A 05.1010 04/17/2017 | 0.09% |
| SERVICE CORP INTERNATIONAL | 0.09% |
| STERICYCLE INC | 0.09% |
| TELEFONICA EMISIONES SAU USD 04.5700 04/27/2023 | 0.09% |
| TEXAS-NEW MEXICO PR P/P 144A 09.5000 04/01/2019 | 0.09% |
| UBSBB 2012-C4 XA IO P/P 144A 01.9301 12/10/2045 | 0.09% |
| VERIZON COMM 04.5220 09/15/2048 | 0.09% |
| ANALOG DEVICES INC | 0.08% |
| AUTONATION INC. 05.5000 02/01/2020 | 0.08% |
| AUTOZONE INC | 0.08% |
| BALL CORP | 0.08% |
| BRUNSWICK CORP | 0.08% |
| CASTLIGHT HEALTH INC-B | 0.08% |
| CITIGROUP INC 05.9500 12/29/2049 | 0.08% |
| COMCAST CABLE COMMUNICAT 09.4550 11/15/2022 | 0.08% |
| FIDELITY NATIONAL INFORM 05.0000 03/15/2022 | 0.08% |
| GOLDMAN SACHS GROUP INC 07.5000 02/15/2019 | 0.08% |
| HSBC HOLDINGS PLC USD 06.5000 05/02/2036 | 0.08% |
| JAZZ PHARMACEUTICALS PLC | 0.08% |
| NEW JERSEY BELL TELEPHON 08.0000 06/01/2022 | 0.08% |
| NRG YIELD INC-CLASS C | 0.08% |
| PRAXAIR INC | 0.08% |
| SPECTRA ENERGY CAPITAL LLC 08.0000 10/01/2019 | 0.08% |
| TELECOM ITALIA SPA P/P 144A 05.3030 05/30/2024 | 0.08% |
| TELEFONICA EMISIONES SAU USD 05.4620 02/16/2021 | 0.08% |
| WIX.COM LTD | 0.08% |
| BAKER HUGHES INC | 0.07% |
| BPCE SA P/P 144A 05.1500 07/21/2024 | 0.07% |
| COMM 2012-LC4 AM 04.0630 12/10/2044 | 0.07% |
| COMM 2013-CR13 AM 04.4490 12/10/2023 | 0.07% |
| COMMONWEALTH EDISON CO 05.8750 02/01/2033 | 0.07% |
| CONCHO RESOURCES INC | 0.07% |
| CONTINENTAL RESOURCES INC/OK | 0.07% |
| CREDIT SUISSE P/P 144A 06.5000 08/08/2023 | 0.07% |
| CRITEO SA-SPON ADR | 0.07% |
| CVS HEALTH CORP 04.7500 12/01/2022 | 0.07% |
| CVS PASS-THRU TRUST P/P 144A 07.5070 01/10/2032 | 0.07% |
| DISH NETWORK CORP-A | 0.07% |
| ENERGY TRANSFER PARTNERS 06.5000 02/01/2042 | 0.07% |
| FHLMC FH30G V80012 03.0000 03/01/2043 | 0.07% |
| FNMA FN30 AB7936 03.0000 02/01/2043 | 0.07% |
| FNMA FN30 AB9369 03.5000 05/01/2043 | 0.07% |
| FNMA FN30 AT1572 03.0000 05/01/2043 | 0.07% |
| FNMA FN30 AT2746 03.5000 05/01/2043 | 0.07% |
| GENWORTH FINANCIAL INC-CL A | 0.07% |
| GLENCORE FUNDING LLC P/P 144A 04.6250 04/29/2024 | 0.07% |
| GNC HOLDINGS INC-CL A | 0.07% |
| GNMA GII30 AP4923 03.5000 11/20/2045 | 0.07% |
| GODADDY INC - CLASS A | 0.07% |
| INTESA SANPAOLO SPA P/P 144A 05.7100 01/15/2026 | 0.07% |
| JPMORGAN CHASE & CO 07.9000 12/29/2049 | 0.07% |
| KELLOGG CO | 0.07% |
| KRAFT HEINZ FOODS CO 06.8750 01/26/2039 | 0.07% |
| LIBERTY MUTUAL GROUP P/P 144A 07.8000 03/15/2037 | 0.07% |
| LKQ CORP | 0.07% |
| MACYS RETAIL HLDGS INC 06.9000 04/01/2029 | 0.07% |
| RABOBANK NEDERLAND P/P 144A 11.0000 12/29/2049 | 0.07% |
| TCI COMMUNICATIONS INC 07.8750 02/15/2026 | 0.07% |
| TENCENT HOLDINGS LTD | 0.07% |
| TOSCO CORP 08.1250 02/15/2030 | 0.07% |
| TRANSCANADA PIPELINES USD 06.3500 05/15/2067 | 0.07% |
| WALGREENS BOOTS ALLIANCE 03.4500 06/01/2026 | 0.07% |
| WILLIS TOWERS WATSON PLC USD 05.7500 03/15/2021 | 0.07% |
| WP CAREY INC 04.6000 04/01/2024 | 0.07% |
| ALLY FINANCIAL INC 05.7500 11/20/2025 | 0.06% |
| AMERICAN EXPRESS COMPANY 07.0000 03/19/2018 | 0.06% |
| AMERICAN TOWER CORP 03.4000 02/15/2019 | 0.06% |
| ARC PROP OPER PART L 04.6000 02/06/2024 | 0.06% |
| ASSURANT INC 06.7500 02/15/2034 | 0.06% |
| BANK OF AMERICA CORP 06.1100 01/29/2037 | 0.06% |
| BERKSHIRE HATHAWAY FIN 04.3000 05/15/2043 | 0.06% |
| BP CAPITAL MARKETS PLC USD 03.1190 05/04/2026 | 0.06% |
| CBRE SERVICES INC 04.8750 03/01/2026 | 0.06% |
| CHEMTURA CORP | 0.06% |
| CIMAREX ENERGY CO | 0.06% |
| CROWN CASTLE TOWERS P/P 144A 04.8830 08/15/2020 | 0.06% |
| DEVON ENERGY CORP | 0.06% |
| EDP FINANCE BV P/P 144A 06.0000 02/02/2018 | 0.06% |
| ELEC DE FRANCE P/P 144A 05.6000 01/27/2040 | 0.06% |
| ERAC USA FINANCE LLC P/P 144A 05.6250 03/15/2042 | 0.06% |
| FNMA FN30 AY0773 03.5000 03/01/2045 | 0.06% |
| GENERAL MOTORS FINL CO 03.4500 04/10/2022 | 0.06% |
| GNMA GII30 AL4511 03.5000 02/20/2045 | 0.06% |
| JPMCC 2012-C6 D 05.3647 05/15/2045 | 0.06% |
| KRAFT HEINZ FOODS CO P/P 144A 04.3750 06/01/2046 | 0.06% |
| MARTIN MARIETTA MATERIALS | 0.06% |
| MITSUBISHI UFJ FIN GRP USD 03.8500 03/01/2026 | 0.06% |
| NEUBERGER BERMAN GRP P/P 144A 04.8750 04/15/2045 | 0.06% |
| OMEGA HLTHCARE INVESTORS 04.9500 04/01/2024 | 0.06% |
| S&P GLOBAL INC 04.4000 02/15/2026 | 0.06% |
| SUNCOR ENERGY INC | 0.06% |
| SW AIRLINES 07-1 TRUST 06.1500 08/01/2022 | 0.06% |
| TIME WARNER INC. 07.7000 05/01/2032 | 0.06% |
| TRIUMPH GROUP INC | 0.06% |
| VORNADO REALTY TRUST | 0.06% |
| WEYERHAEUSER CO 07.3750 03/15/2032 | 0.06% |
| ABBOTT LABORATORIES | 0.05% |
| AIR LEASE CORP 03.3750 06/01/2021 | 0.05% |
| APPALACHIAN POWER CO 05.8000 10/01/2035 | 0.05% |
| AXA SA P/P 144A 06.4630 12/29/2049 | 0.05% |
| BARCLAYS BANK PLC USD 07.6250 11/21/2022 | 0.05% |
| BED BATH & BEYOND INC 05.1650 08/01/2044 | 0.05% |
| BURLINGTN NORTH SANTA FE 05.4000 06/01/2041 | 0.05% |
| CBRE GROUP INC - A | 0.05% |
| CGCMT 2014-GC21 AS 04.0260 05/10/2047 | 0.05% |
| CHENIERE ENERGY INC | 0.05% |
| COMM 2012-LC4 C 05.8068 12/10/2044 | 0.05% |
| CORP BOND BACKED CTF P/P 144A 00.0000 09/15/2017 | 0.05% |
| CVS PASS-THROUGH P/P 144A 04.7040 01/10/2036 | 0.05% |
| DEXCOM INC | 0.05% |
| DOLLAR GENERAL CORP 03.2500 04/15/2023 | 0.05% |
| EL PASO NATURAL GAS 08.3750 06/15/2032 | 0.05% |
| ENERGY TRAN PTNR 07.6000 02/01/2024 | 0.05% |
| EQT MIDSTREAM PARTNERS L 04.0000 08/01/2024 | 0.05% |
| FNMA FN30 734836 05.0000 08/01/2033 | 0.05% |
| FNMA FN30 995023 05.5000 08/01/2037 | 0.05% |
| GENERAL ELECTRIC CO 06.7500 03/15/2032 | 0.05% |
| GLENCORE FUNDING LLC P/P 144A 02.8750 04/16/2020 | 0.05% |
| GLENCORE FUNDING LLC P/P 144A 04.0000 04/16/2025 | 0.05% |
| HAIN CELESTIAL GROUP INC | 0.05% |
| HEALTHCARE REALTY TRUST INC 03.8750 05/01/2025 | 0.05% |
| HESS CORP | 0.05% |
| HISTORIC TW INC 09.1500 02/01/2023 | 0.05% |
| JPMBB 2013-C14 AS 04.4093 08/15/2046 | 0.05% |
| KIMCO REALTY CORP | 0.05% |
| KKR GROUP FINANCE CO P/P 144A 06.3750 09/29/2020 | 0.05% |
| LLOYDS BANKING GROUP PLC USD 04.5000 11/04/2024 | 0.05% |
| N TX HWY-TXB-B 06.7180 01/01/2049 | 0.05% |
| NATIONWIDE MUTUAL P/P 144A 08.2500 12/01/2031 | 0.05% |
| NUCOR CORP | 0.05% |
| OMEGA HLTHCARE INVES 05.2500 01/15/2026 | 0.05% |
| OMNICOM GROUP INC 03.6000 04/15/2026 | 0.05% |
| ONCOR ELECTRIC DELIVERY CO 07.0000 09/01/2022 | 0.05% |
| OPORTUN FIN CORP P/P SERIES H PFD | 0.05% |
| PACIFIC GAS & ELECTRIC 06.3500 02/15/2038 | 0.05% |
| PRESS GANEY HOLDINGS INC | 0.05% |
| PRIDE INTERNATIONAL INC 07.8750 08/15/2040 | 0.05% |
| PUGET SOUND ENERGY INC 06.9740 06/01/2067 | 0.05% |
| SPECTRA ENERGY CAPITAL LLC 06.2000 04/15/2018 | 0.05% |
| STATOIL ASA USD 05.1000 08/17/2040 | 0.05% |
| SYMRISE AG | 0.05% |
| TIAAC 2003-1A E 144A 08.0000 12/28/2038 | 0.05% |
| VERIZON COMMUNICATIONS 04.4000 11/01/2034 | 0.05% |
| VULCAN MATERIALS CO | 0.05% |
| WELLS FARGO & COMPANY 05.8750 12/29/2049 | 0.05% |
| AFLAC INC 06.4500 08/15/2040 | 0.04% |
| AIR LEASE CORP 03.7500 02/01/2022 | 0.04% |
| ALLEGION PLC | 0.04% |
| AMERICAN TOWER CORP 03.3750 10/15/2026 | 0.04% |
| ANHEUSER-BUSCH INBEV FIN 03.6500 02/01/2026 | 0.04% |
| ANTHEM INC | 0.04% |
| APPLE INC 03.8500 05/04/2043 | 0.04% |
| BACARDI LTD P/P 144A 04.5000 01/15/2021 | 0.04% |
| CAMPBELL SOUP CO | 0.04% |
| CAPITAL ONE BANK USA NA 03.3750 02/15/2023 | 0.04% |
| CREDIT SUISSE NEW YORK 05.3000 08/13/2019 | 0.04% |
| DUKE ENERGY CAROLINAS 04.2500 12/15/2041 | 0.04% |
| EMERA US FINANCE LP P/P 144A 03.5500 06/15/2026 | 0.04% |
| ESSEX PROPERTY TRUST INC | 0.04% |
| EXPEDIA INC 05.9500 08/15/2020 | 0.04% |
| FIVE CORNERS FUNDING P/P 144A 04.4190 11/15/2023 | 0.04% |
| FNMA FN30 555591 05.5000 07/01/2033 | 0.04% |
| FORD MOTOR CREDIT CO LLC 04.1340 08/04/2025 | 0.04% |
| HCA INC 05.0000 03/15/2024 | 0.04% |
| HESS CORP 07.3000 08/15/2031 | 0.04% |
| HSBC BANK USA NA 07.0000 01/15/2039 | 0.04% |
| HSBC HOLDINGS PLC USD 04.2500 08/18/2025 | 0.04% |
| JPMCC 2012-C8 D P/P 144A 04.8134 10/15/2045 | 0.04% |
| JPMCC 2013-C13 C 04.1886 01/15/2046 | 0.04% |
| KINDER MORGAN ENER PART 03.5000 03/01/2021 | 0.04% |
| KION GROUP AG | 0.04% |
| L BRANDS INC 06.6250 04/01/2021 | 0.04% |
| LIBERTY MUTUAL INSUR P/P 144A 07.6970 10/15/2097 | 0.04% |
| LYONDELLBASELL IND NV 04.6250 02/26/2055 | 0.04% |
| NBCUNIVERSAL MEDIA LLC 06.4000 04/30/2040 | 0.04% |
| NOMAD FOODS LTD | 0.04% |
| NORFOLK SOUTHERN CORP 06.0000 05/23/2111 | 0.04% |
| NVR INC 03.9500 09/15/2022 | 0.04% |
| O'REILLY AUTOMOTIVE INC 03.5500 03/15/2026 | 0.04% |
| ON SEMICONDUCTOR CORP | 0.04% |
| ONCOR ELECTRIC DELIVERY 04.1000 06/01/2022 | 0.04% |
| ONEAMERICA FINL P/P 144A 07.0000 10/15/2033 | 0.04% |
| PEBBLEBROOK HOTEL TRUST | 0.04% |
| PETROLEOS MEXICANOS USD 04.5000 01/23/2026 | 0.04% |
| PULTEGROUP INC 05.5000 03/01/2026 | 0.04% |
| ROYAL BANK OF CANADA USD 04.6500 01/27/2026 | 0.04% |
| SANTANDER UK PLC P/P 144A 05.0000 11/07/2023 | 0.04% |
| SCHLUMBERGER LTD | 0.04% |
| SMURFIT KAPPA GROUP PLC | 0.04% |
| SPECTRUM BRANDS HOLDINGS INC | 0.04% |
| STACR 2015-DNA1 M1 01.3533 10/25/2027 | 0.04% |
| SUMITOMO MITSUI P/P 144A 04.4360 04/02/2024 | 0.04% |
| TELEFONICA EMISIONES SAU USD 07.0450 06/20/2036 | 0.04% |
| THE BEAR STEARNS COS LLC 06.4000 10/02/2017 | 0.04% |
| TIFFANY & CO 04.9000 10/01/2044 | 0.04% |
| VIACOM INC 05.8500 09/01/2043 | 0.04% |
| ACTAVIS FUNDING SCS USD 04.7500 03/15/2045 | 0.03% |
| AGRIUM INC USD 03.3750 03/15/2025 | 0.03% |
| ALCOA INC | 0.03% |
| AMERICAN TOWER CORP 04.0000 06/01/2025 | 0.03% |
| APPLE INC 04.3750 05/13/2045 | 0.03% |
| AUTONATION INC 04.5000 10/01/2025 | 0.03% |
| AVIATION CAPITAL GRP P/P 144A 07.1250 10/15/2020 | 0.03% |
| AVON PRODUCTS INC | 0.03% |
| BANCO DEL ESTADO P/P 144A 02.0000 11/09/2017 | 0.03% |
| BANK OF AMERICA CORP 06.1000 12/29/2049 | 0.03% |
| BEAR STEARNS COS LLC 07.2500 02/01/2018 | 0.03% |
| BERKSHIRE HATHAWAY INC-CL B | 0.03% |
| BPCE SA P/P 144A 05.7000 10/22/2023 | 0.03% |
| CA TXB-VAR PURP 3 07.5000 04/01/2034 | 0.03% |
| CAPITAL ONE FINANCIAL CO 04.2000 10/29/2025 | 0.03% |
| CF INDUSTRIES INC 05.1500 03/15/2034 | 0.03% |
| CF INDUSTRIES INC 05.3750 03/15/2044 | 0.03% |
| CHARTER COMM OPT LLC P/P 144A 04.9080 07/23/2025 | 0.03% |
| CITIGROUP INC 05.8750 12/29/2049 | 0.03% |
| CNO FINANCIAL GROUP INC 05.2500 05/30/2025 | 0.03% |
| COMCAST CORP 06.5000 11/15/2035 | 0.03% |
| COOPERATIEVE RABOBANK UA USD 05.2500 08/04/2045 | 0.03% |
| CROWN CASTLE INTL CORP 04.8750 04/15/2022 | 0.03% |
| DDR CORP. 07.8750 09/01/2020 | 0.03% |
| DELIVERY HERO HOLDIN P/P | 0.03% |
| EDP FINANCE BV P/P 144A 05.2500 01/14/2021 | 0.03% |
| ELEC DE FRANCE P/P 144A 05.6250 12/29/2049 | 0.03% |
| ENEL FINANCE INTL NV P/P 144A 05.1250 10/07/2019 | 0.03% |
| EPR PROPERTIES 05.2500 07/15/2023 | 0.03% |
| EXPEDIA INC P/P 144A 05.0000 02/15/2026 | 0.03% |
| FAIRFAX US INC P/P 144A 04.8750 08/13/2024 | 0.03% |
| FHLMC FH30G G07321 03.5000 04/01/2043 | 0.03% |
| FHLMC FH30G Q14035 03.5000 12/01/2042 | 0.03% |
| FNMA FN30 889982 05.5000 11/01/2038 | 0.03% |
| FNMA FN30 995018 05.5000 06/01/2038 | 0.03% |
| FORD MOTOR CREDIT CO LLC 05.8750 08/02/2021 | 0.03% |
| GENERAL MOTORS FINL CO 04.3000 07/13/2025 | 0.03% |
| GOLDMAN SACHS GROUP INC 06.7500 10/01/2037 | 0.03% |
| GRUPO BIMBO SAB P/P 144A 04.8750 06/27/2044 | 0.03% |
| GRUPO TELEVISA SAB USD 05.0000 05/13/2045 | 0.03% |
| GRUPO TELEVISA SAB USD 06.6250 01/15/2040 | 0.03% |
| HOST HOTELS & RESORTS LP 06.0000 10/01/2021 | 0.03% |
| INDEPENDENCE CONTRACT DRILLI | 0.03% |
| INVISTA FINANCE LLC P/P 144A 04.2500 10/15/2019 | 0.03% |
| ITC HOLDINGS CORP P/P 144A 06.0500 01/31/2018 | 0.03% |
| JPMORGAN CHASE & CO 05.3000 12/29/2049 | 0.03% |
| KRAFT HEINZ FOODS CO 06.5000 02/09/2040 | 0.03% |
| LBCMT 1998-C4 H P/P 144A 05.6000 10/15/2035 | 0.03% |
| LEAR CORP 05.3750 03/15/2024 | 0.03% |
| LUKOIL INTL FIN BV P/P 144A 04.5630 04/24/2023 | 0.03% |
| MEDTRONIC INC 03.5000 03/15/2025 | 0.03% |
| MEDTRONIC INC 04.3750 03/15/2035 | 0.03% |
| MID-AMERICA APT LP 04.3000 10/15/2023 | 0.03% |
| NORTHROP GRUMMAN SYSTEMS 07.8750 03/01/2026 | 0.03% |
| OH UNIV-TXB-C-BABS 04.9100 06/01/2040 | 0.03% |
| OPORTUN FIN CORP P/P | 0.03% |
| OPORTUN FIN G-1 PFD CV P/P | 0.03% |
| PACIFIC LIFECORP P/P 144A 06.0000 02/10/2020 | 0.03% |
| POTOMAC EDISON CO P/P 144A 05.8000 10/15/2016 | 0.03% |
| PRUDENTIAL FINANCIAL INC 05.6250 06/15/2043 | 0.03% |
| QVC INC 04.8500 04/01/2024 | 0.03% |
| RICE ENERGY INC | 0.03% |
| ROYAL BK SCOTLND GRP PLC USD 05.1250 05/28/2024 | 0.03% |
| TEACHERS INSUR & ANN P/P 144A 06.8500 12/16/2039 | 0.03% |
| TRAVELERS PPTY CASUALTY 07.7500 04/15/2026 | 0.03% |
| TUBEMOGUL INC | 0.03% |
| UNITEDHEALTH GROUP INC 04.6250 11/15/2041 | 0.03% |
| VERIZON COMMUNICATIONS 05.0500 03/15/2034 | 0.03% |
| W.R. GRACE & CO | 0.03% |
| WFRBS 2014-C19 C 04.6460 03/15/2047 | 0.03% |
| WILLIAMS PARTNERS LP 04.3000 03/04/2024 | 0.03% |
| 21ST CENTURY FOX AMERICA 07.8500 03/01/2039 | 0.02% |
| ABBVIE INC 03.6000 05/14/2025 | 0.02% |
| ACTAVIS FUNDING SCS USD 03.4500 03/15/2022 | 0.02% |
| AGRIUM INC USD 07.1250 05/23/2036 | 0.02% |
| AMERICA MOVIL SAB DE CV USD 02.3750 09/08/2016 | 0.02% |
| AMERICA MOVIL SAB DE USD 06.1250 03/30/2040 | 0.02% |
| AMERICAN EXPRESS CO 04.9000 12/29/2049 | 0.02% |
| ANHEUSER-BUSCH INBEV 08.2000 01/15/2039 | 0.02% |
| ANTHEM INC 04.6250 05/15/2042 | 0.02% |
| APPLE INC 03.4500 05/06/2024 | 0.02% |
| ARCELORMITTAL | 0.02% |
| AUST & NZ BANKING GR P/P 144A 06.7500 12/29/2049 | 0.02% |
| BANK OF AMERICA CORP 01.4125 09/15/2026 | 0.02% |
| BARRICK GOLD CORP | 0.02% |
| BG ENERGY CAP PLC P/P 144A 04.0000 10/15/2021 | 0.02% |
| CBRE SERVICES INC 05.2500 03/15/2025 | 0.02% |
| CC HLDG GS V LLC/CRO 03.8490 04/15/2023 | 0.02% |
| CHIPOTLE MEXICAN GRILL INC | 0.02% |
| CONSOLIDATED EDISON CO O 04.2000 03/15/2042 | 0.02% |
| COOPERATIEVE RABOBANK UA USD 04.6250 12/01/2023 | 0.02% |
| CREDIT AGRICOLE SA P/P 144A 04.3750 03/17/2025 | 0.02% |
| CYTEC INDUSTRIES INC. 03.5000 04/01/2023 | 0.02% |
| DIAMOND 1 FIN/DIAMON P/P 144A 08.3500 07/15/2046 | 0.02% |
| EASTMAN CHEMICAL CO 03.8000 03/15/2025 | 0.02% |
| EASTMAN CHEMICAL CO 06.3000 11/15/2018 | 0.02% |
| ELEC DE FRANCE P/P 144A 06.0000 01/22/2114 | 0.02% |
| ENERGY TRANSFER PARTNERS 05.2000 02/01/2022 | 0.02% |
| EOG RESOURCES INC 05.6250 06/01/2019 | 0.02% |
| ERAC USA FINANCE LLC P/P 144A 03.8500 11/15/2024 | 0.02% |
| FIFTH THIRD BANCORP 05.1000 12/29/2049 | 0.02% |
| FNMA FN30 AA0839 05.0000 01/01/2039 | 0.02% |
| FORD MOTOR COMPANY 07.4000 11/01/2046 | 0.02% |
| FORD MOTOR COMPANY 09.9800 02/15/2047 | 0.02% |
| GENERAL MOTORS FINL CO 04.0000 01/15/2025 | 0.02% |
| GNMA GII30 AP5408 03.5000 09/20/2045 | 0.02% |
| HCA INC 05.2500 06/15/2026 | 0.02% |
| HOSPITALITY PROPERTIES T 04.5000 03/15/2025 | 0.02% |
| HSBC BANK USA 05.6250 08/15/2035 | 0.02% |
| HYATT HOTELS CORP 03.3750 07/15/2023 | 0.02% |
| IBERDROLA INTL BV USD 06.7500 07/15/2036 | 0.02% |
| INGEVITY CORP | 0.02% |
| INTL LEASE FINANCE CORP 06.2500 05/15/2019 | 0.02% |
| JABIL CIRCUIT INC 08.2500 03/15/2018 | 0.02% |
| KINDER MORGAN INC. 03.0500 12/01/2019 | 0.02% |
| LBCMT 1999-C1 G P/P 144A 06.4100 06/15/2031 | 0.02% |
| LLOYDS BANK PLC USD 02.7000 08/17/2020 | 0.02% |
| LLOYDS BANKING GROUP PLC USD 07.5000 04/30/2049 | 0.02% |
| MARATHON PETRO CORP 06.5000 03/01/2041 | 0.02% |
| NOBLE HOLDING INTL LTD USD 06.0500 03/01/2041 | 0.02% |
| O'REILLY AUTOMOTIVE INC 03.8500 06/15/2023 | 0.02% |
| OPORTUN FIN F-1 PFD CV P/P | 0.02% |
| PACIFIC GAS & ELECTRIC 05.8000 03/01/2037 | 0.02% |
| PRIMERICA INC 04.7500 07/15/2022 | 0.02% |
| REPUBLIC SERVICES IN 05.5000 09/15/2019 | 0.02% |
| ROGERS COMMUNICATIONS IN USD 04.5000 03/15/2043 | 0.02% |
| SABMILLER HLDG INC P/P 144A 04.9500 01/15/2042 | 0.02% |
| SELECT INCOME REIT 02.8500 02/01/2018 | 0.02% |
| SELECT INCOME REIT 03.6000 02/01/2020 | 0.02% |
| SOFTBANK GROUP CORP P/P 144A 04.5000 04/15/2020 | 0.02% |
| SOUTHWESTERN ENERGY CO | 0.02% |
| STACR 2016-HQA2 M1 01.6533 11/25/2028 | 0.02% |
| TARGA RESOURCES CORP | 0.02% |
| TIME WARNER INC 02.9500 07/15/2026 | 0.02% |
| UNION CARBIDE CORP 07.7500 10/01/2096 | 0.02% |
| UNITED AIR 2014-2 A PTT 03.7500 09/03/2026 | 0.02% |
| UNITED TECHNOLOGIES CORP 04.5000 06/01/2042 | 0.02% |
| VULCAN MATERIALS COMPANY 04.5000 04/01/2025 | 0.02% |
| WESTROCK MWV LLC 07.9500 02/15/2031 | 0.02% |
| WESTROCK RKT CO 04.4500 03/01/2019 | 0.02% |
| ZFS FIN USA TRUST V P/P 144A 06.5000 05/09/2037 | 0.02% |
| AETNA INC 06.7500 12/15/2037 | 0.01% |
| ANTERO RESOURCES CORP | 0.01% |
| ARIZONA PUBLIC SERVICE 04.5000 04/01/2042 | 0.01% |
| AT&T INC 04.7500 05/15/2046 | 0.01% |
| AXA SA P/P 144A 06.3790 12/14/2036 | 0.01% |
| BGC PARTNERS INC P/P 144A 05.1250 05/27/2021 | 0.01% |
| BNP PARIBAS P/P 144A 07.1950 06/29/2049 | 0.01% |
| BURLINGTN NORTH SANTA FE 05.7500 05/01/2040 | 0.01% |
| CELANESE US HOLDINGS LLC 04.6250 11/15/2022 | 0.01% |
| CONTL AIRLINES 1998-1 06.6480 09/15/2017 | 0.01% |
| CROWN CASTLE INTL CORP. 05.2500 01/15/2023 | 0.01% |
| DELPHI CORP 05.0000 02/15/2023 | 0.01% |
| EXXON MOBIL CORP | 0.01% |
| FHLMC FH30G U99054 04.0000 06/01/2043 | 0.01% |
| FREEPORT-MCMORAN OIL&GAS 06.7500 02/01/2022 | 0.01% |
| FSPC T-56 AIO IO 00.5240 05/25/2043 | 0.01% |
| GNMA GII30 AP4904 03.5000 10/20/2045 | 0.01% |
| HOST HOTELS & RESORTS 05.2500 03/15/2022 | 0.01% |
| HSBC USA INC 03.5000 06/23/2024 | 0.01% |
| JPMCC 2006-LDP8 A4 05.3990 05/15/2045 | 0.01% |
| KINDER MORGAN ENER PART 05.4000 09/01/2044 | 0.01% |
| LIBERTY PROPERTY LP 03.3750 06/15/2023 | 0.01% |
| MACYS RETAIL HLDGS INC 06.6500 07/15/2024 | 0.01% |
| MULTI PACKAGING SOLUTIONS IN | 0.01% |
| OMEGA HLTHCARE INVES 04.5000 04/01/2027 | 0.01% |
| OPORTUN FIN D-1 PFD CV P/P | 0.01% |
| OPORTUN FIN F PFD CV P/P | 0.01% |
| PEACHTREE FUNDING TR P/P 144A 03.9760 02/15/2025 | 0.01% |
| PPL CAPITAL FUNDING INC 04.2000 06/15/2022 | 0.01% |
| PRICELINE GROUP INC/THE 03.6500 03/15/2025 | 0.01% |
| QUEST DIAGNOSTICS INC 04.7500 01/30/2020 | 0.01% |
| ROGERS COMMUNICATIONS IN USD 08.7500 05/01/2032 | 0.01% |
| STEEL DYNAMICS INC | 0.01% |
| TYSON FOODS INC 04.8750 08/15/2034 | 0.01% |
| UNITED TECHNOLOGIES CORP 05.7000 04/15/2040 | 0.01% |
| VERIZON COMM 05.9000 02/15/2054 | 0.01% |
| BAXTER INTERNATIONAL INC | 0.00% |
| BEAVER VALLEY II FUNDING 09.0000 06/01/2017 | 0.00% |
| CAD/USD 07/21/2016 BANKAM | 0.00% |
| CAD/USD 07/21/2016 BCAP-FX | 0.00% |
| CAD/USD 07/21/2016 CSI-FX | 0.00% |
| CAD/USD 07/21/2016 JPMCB | 0.00% |
| CALIFORNIA RESOURCES CORP | 0.00% |
| CONTL AIRLINES 1997-4 06.9000 01/02/2018 | 0.00% |
| EUR/USD 09/21/2016 CITI | 0.00% |
| EUR/USD 09/21/2016 UBS | 0.00% |
| FHLMC FH30G G01793 06.0000 03/01/2035 | 0.00% |
| FNR 2001-79 BI IO 00.3029 03/25/2045 | 0.00% |
| FORD MOTOR COMPANY 07.4500 07/16/2031 | 0.00% |
| FPLUS 1997-3 B1 07.7900 11/10/2023 | 0.00% |
| FSPC T-56 2IO IO 00.0000 05/25/2043 | 0.00% |
| GBP/USD 09/21/2016 CSI-FX | 0.00% |
| GBP/USD 09/21/2016 HSBCB | 0.00% |
| GBP/USD 09/21/2016 JPMCB | 0.00% |
| GBP/USD 09/21/2016 SSBT | 0.00% |
| HTG MOLECULAR DIAGNOSTICS | 0.00% |
| ILS/USD 07/21/2016 SSBT | 0.00% |
| INTEL CORP | 0.00% |
| INTERNATIONAL PAPER CO 08.7000 06/15/2038 | 0.00% |
| JPMCC 2004-LN2 A2 05.1150 07/15/2041 | 0.00% |
| LIBERTY GLOBAL PLC LILAC - A | 0.00% |
| OPORTUN FIN A-1 PFD CV P/P | 0.00% |
| OPORTUN FIN B-1 PFD CV P/P | 0.00% |
| OPORTUN FIN C-1 PFD CV P/P | 0.00% |
| OPORTUN FIN E-1 PFD CV P/P | 0.00% |
| POUND STERLING CALL ACCOUNT | 0.00% |
| RESTAURANT BRANDS-EXCH UNITS | 0.00% |
| STACR 2015-DN1 M1 01.7033 01/25/2025 | 0.00% |
| THE EURO EUR CALL ACCOUNT | -0.01% |
Prior top 10 holdings
| Top 10 holdings as of 08/31/16 | |
|---|---|
| Us Treasury N/B 02.0000 11/30/2020 | |
| Us Treasury N/B 01.3750 09/30/2018 | |
| Us Treasury N/B 01.1250 12/31/2019 | |
| Apple | |
| Us Treasury N/B 00.7500 03/31/2018 | |
| Alphabet | |
| Microsoft | |
| Amazon.Com | |
| Pepsico | |
| Us Treasury N/B 02.7500 08/15/2042 | |
| Holdings represent 19.20% of portfolio | |
| Top 10 holdings as of 07/31/16 | |
|---|---|
| Us Treasury N/B 02.0000 11/30/2020 | |
| Us Treasury N/B 01.3750 09/30/2018 | |
| Us Treasury N/B 01.1250 12/31/2019 | |
| Us Treasury N/B 00.7500 03/31/2018 | |
| Apple | |
| Alphabet | |
| Microsoft | |
| Pepsico | |
| Amazon.Com | |
| Us Treasury N/B 02.7500 08/15/2042 | |
| Holdings represent 19.06% of portfolio | |
| Top 10 holdings as of 06/30/16 | |
|---|---|
| Us Treasury N/B 02.0000 11/30/2020 | |
| Us Treasury N/B 01.3750 09/30/2018 | |
| Us Treasury N/B 01.1250 12/31/2019 | |
| Us Treasury N/B 00.7500 03/31/2018 | |
| Apple | |
| Alphabet | |
| Microsoft | |
| Pepsico | |
| Amazon.Com | |
| Fnma Fn30 Tba 04.5000 07/01/2046 | |
| Holdings represent 18.86% of portfolio | |
| Top 10 holdings as of 05/31/16 | |
|---|---|
| Us Treasury N/B 02.0000 11/30/2020 | |
| Us Treasury N/B 01.3750 09/30/2018 | |
| Us Treasury N/B 01.1250 12/31/2019 | |
| Us Treasury N/B 00.7500 03/31/2018 | |
| Apple | |
| Alphabet | |
| Microsoft | |
| Amazon.Com | |
| Fnma Fn30 Tba 04.5000 06/01/2046 | |
| Holdings represent 18.77% of portfolio | |
Portfolio composition as of 08/31/16
| Common stock | 56.36% |
|
|---|---|---|
| Corporate bonds and notes | 14.35% |
|
| Treasury | 12.76% |
|
| Cash and net other assets | 8.51% |
|
| Agency pass-through | 5.87% |
|
| Commercial MBS | 1.30% |
|
| Agency | 0.45% |
|
| Emerging-market bonds | 0.24% |
|
| Municipal bonds | 0.10% |
|
| Agency CMO | 0.06% |
|
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Expenses
Expense ratio |
Class A | Class B | Class C | Class M | Class R | Class R5 | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|---|
| Total expense ratio | 1.01% | 1.76% | 1.76% | 1.51% | 1.26% | 0.72% | 0.62% | 0.76% |
| What you pay | 1.01% | 1.76% | 1.76% | 1.51% | 1.26% | 0.72% | 0.62% | 0.76% |
Sales charge
| Investment Breakpoint | Class A | Class B | Class C | Class M | Class R | Class R5 | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|---|
| $0-$49,999 | 5.75% | 0.00% | 0.00% | 3.50% | -- | -- | -- | -- |
| $50,000-$99,999 | 4.50% | 0.00% | 0.00% | 2.50% | -- | -- | -- | -- |
| $100,000-$249,999 | 3.50% | -- | 0.00% | 1.50% | -- | -- | -- | -- |
| $250,000-$499,999 | 2.50% | -- | 0.00% | 1.00% | -- | -- | -- | -- |
| $500,000-$999,999 | 2.00% | -- | 0.00% | 1.00% | -- | -- | -- | -- |
| $1M-$4M | 0.00% | -- | -- | -- | -- | -- | -- | -- |
| $4M-$50M | 0.00% | -- | -- | -- | -- | -- | -- | -- |
| $50M+ | 0.00% | -- | -- | -- | -- | -- | -- | -- |
CDSC
|
Class A
(sales for $1,000,000+) |
Class B | Class C | Class M | Class R | Class R5 | Class R6 | Class Y | |
|---|---|---|---|---|---|---|---|---|
| 0 to 9 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- | -- | -- |
| 9 to 12 mts. | 0.00% | 5.00% | 1.00% | -- | -- | -- | -- | -- |
| 2 yrs. | -- | 4.00% | 0.00% | -- | -- | -- | -- | -- |
| 3 yrs. | -- | 3.00% | 0.00% | -- | -- | -- | -- | -- |
| 4 yrs. | -- | 3.00% | 0.00% | -- | -- | -- | -- | -- |
| 5 yrs. | -- | 2.00% | 0.00% | -- | -- | -- | -- | -- |
| 6 yrs. | -- | 1.00% | 0.00% | -- | -- | -- | -- | -- |
| 7+ yrs. | -- | 0.00% | 0.00% | -- | -- | -- | -- | -- |
The S&P 500 Index is an unmanaged index of common stock performance. The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index of U.S. investment-grade fixed income securities. You cannot invest directly in an index.
Consider these risks before investing: Stock and bond prices may fall or fail to rise over time for several reasons, including general financial market conditions, factors related to a specific issuer or industry and, with respect to bond prices, changing market perceptions of the risk of default and changes in government intervention. These factors may also lead to increased volatility and reduced liquidity in the bond markets. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Bond investments are subject to interest-rate risk (the risk of bond prices falling if interest rates rise) and credit risk (the risk of an issuer defaulting on interest or principal payments). Default risk is generally higher for non-qualified mortgages. Interest-rate risk is greater for longer-term bonds, and credit risk is greater for below-investment-grade bonds. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. You can lose money by investing in the fund.
You can lose money by investing in a fund. Any given fund may not achieve its goal, and is not intended as a complete investment program. All funds have risk. The value and/or returns of a portfolio will fluctuate with market conditions. You may have more or less than the original amount invested when you redeem your shares.