NOTICE: 2020 Capital Gains Available. View PDF here.

Top 10 Holdings %

Coupon RateMaturity%
U.S. Treasury Note1.500%10/31/248.8%
Government National Mortgage Association2.689%03/16/464.1%
Federal Home Loan Bank2.070%04/02/323.8%
Federal Home Loan Bank1.900%03/18/373.2%
Federal Farm Credit Bank1.680%04/29/303.1%
Federal Farm Credit Bank1.220%05/05/283.1%
Federal Home Loan Bank2.320%04/16/353.1%
Federal National Mortgage Association5.500%05/25/343.1%
Federal Farm Credit Bank1.500%04/30/292.9%
Federal Home Loan Bank2.000%05/04/352.8%

Credit Quality Breakdown

(Moody’s/S&P/Fitch)

U.S.Treasury8.9%
U.S. Agency29.0%
Aaa/AAA/AAA35.6%
Aa/AA/AA4.2%
A/A/A16.3%
Baa/BBB/BBB4.3%
Ba/BB/BB0.2%
B/B/B1.0%
Caa/CCC/CCC0.2%
Ca/CC/CC0.2%
D/D/D0.1%
The above credit quality ratings are derived from the underlying securities of the portfolio, and are rated by Moody’s. If a rating from Moody’s is unavailable, S&P’s rating is used. If neither Moody’s nor S&P ratings are available, Fitch’s rating is used.

Composition By Security Type

Municipal Bond1.3%
Cash Equivalents2.7%
U.S. Treasury8.9%
Corporate Bonds9.1%
Asset-Backed12.4%
Agencies29.0%
Mortgage-Backed36.6%

The composition of the Portfolio is as of September 30, 2020 and is subject to change.

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