Portfolio concentration
As of November 30, 2025 · N-PORT
Holdings
156
Top-10 weight
80.15%
Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
9
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
33.5
Holdings
As of November 30, 2025 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | NOMURA TREAS TRIPARTY | — | 25,999,760 | $26.00M | 29.29% |
| 2 | U.S. Treasury Notes | — | 16,451,000 | $16.45M | 18.53% |
| 3 | GMO Opportunistic Income Fund | — | 602,517 | $14.78M | 16.65% |
| 4 | FNCL 3 12/22 | — | 10,100,000 | $8.97M | 10.11% |
| 5 | Japan Treasury Discount Bill | — | 770,000,000 | $4.92M | 5.55% |
| 6 | GMO Emerging Country Debt, Class VI | — | 196,141 | $4.58M | 5.16% |
| 7 | Government National Mortgage Association, TBA | G2SF | 4,800,000 | $4.40M | 4.96% |
| 8 | FNCL 6 12/24 | — | 1,875,000 | $1.92M | 2.16% |
| 9 | FNCL 5.5 12/24 | — | 1,875,000 | $1.90M | 2.14% |
| 10 | State Street Institutional Treasury Money Market Fund | — | 1,264,633 | $1.26M | 1.42% |
| 11 | U.S.Treasury Notes | — | 1,080,000 | $1.08M | 1.22% |
| 12 | U.S. Treasury Notes | TF | 424,000 | $424.03K | 0.48% |
| 13 | GE CAPITAL INTL | — | 250,000 | $247.07K | 0.28% |
| 14 | SABRA HEALTH CAR | — | 250,000 | $228.69K | 0.26% |
| 15 | OMEGA HEALTHCARE | — | 200,000 | $186.72K | 0.21% |
| 16 | DEUTSCHE BANK NY | — | 200,000 | $184.08K | 0.21% |
| 17 | CROWN CASTLE INT | — | 200,000 | $179.00K | 0.20% |
| 18 | ENBRIDGE ENERGY | — | 150,000 | $177.35K | 0.20% |
| 19 | CROWN CASTLE INT | — | 200,000 | $176.32K | 0.20% |
| 20 | SMITH & NEPHEW | — | 165,000 | $172.20K | 0.19% |
| 21 | BOEING CO/THE | — | 150,000 | $171.77K | 0.19% |
| 22 | BAT CAPITAL CORP | — | 150,000 | $171.60K | 0.19% |
| 23 | BORGWARNER INC | — | 165,000 | $171.11K | 0.19% |
| 24 | Synchrony Financial | — | 165,000 | $169.63K | 0.19% |
| 25 | BANK OF NY MELLO | — | 150,000 | $168.32K | 0.19% |
| 26 | ROGERS COMMUNIC | — | 165,000 | $167.29K | 0.19% |
| 27 | ALBEMARLE CORP | — | 165,000 | $165.59K | 0.19% |
| 28 | GENERAL MOTORS C | — | 180,000 | $165.42K | 0.19% |
| 29 | CITIZENS FIN GRP | — | 150,000 | $165.20K | 0.19% |
| 30 | CORNING INC | — | 200,000 | $164.71K | 0.19% |
| 31 | BROOKFIELD FIN | — | 150,000 | $163.09K | 0.18% |
| 32 | CAPITAL ONE FINL | — | 150,000 | $163.02K | 0.18% |
| 33 | VIACOMCBS INC | — | 165,000 | $162.81K | 0.18% |
| 34 | QORVO INC | — | 165,000 | $162.77K | 0.18% |
| 35 | GENERAL MOTORS C | — | 150,000 | $162.68K | 0.18% |
| 36 | BANK OF NY MELLO | — | 150,000 | $162.43K | 0.18% |
| 37 | MYLAN NV | — | 195,000 | $161.51K | 0.18% |
| 38 | SANTANDER HOLD | — | 150,000 | $161.19K | 0.18% |
| 39 | MICRON TECH | — | 150,000 | $160.98K | 0.18% |
| 40 | INTEL CORP | — | 165,000 | $159.42K | 0.18% |
| 41 | Westinghouse Air Brake Technologies Corp. | WAB | 150,000 | $159.21K | 0.18% |
| 42 | HASBRO INC SR UNSECURED 05/34 6.05 | HAS | 150,000 | $159.08K | 0.18% |
| 43 | TARGA RESOURCES | — | 150,000 | $158.35K | 0.18% |
| 44 | JACOBS ENGIN GRP | — | 150,000 | $158.28K | 0.18% |
| 45 | CAPITAL ONE FINL | — | 150,000 | $157.92K | 0.18% |
| 46 | MICRON TECH | — | 150,000 | $157.88K | 0.18% |
| 47 | LAS VEGAS SAN | — | 150,000 | $157.37K | 0.18% |
| 48 | NEWMNT / NEWCRST | — | 150,000 | $157.35K | 0.18% |
| 49 | CITIZENS FIN GRP | — | 150,000 | $157.33K | 0.18% |
| 50 | LAS VEGAS SAN | — | 150,000 | $156.89K | 0.18% |
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