Portfolio concentration
As of October 31, 2025 · N-PORT
Holdings
34
Top-10 weight
92.38%
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.
2
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.
373.1
Holdings
As of October 31, 2025 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | BlackRock Cash Funds: Treasury, SL Agency Shares | — | 300,670,000 | $300.67M | 70.52% |
| 2 | United Wholesale Mortgage LLC | — | 17,953,000 | $17.95M | 4.21% |
| 3 | ALLY FINL INC 5.75% 11/20/2025 | ALLY25A | 16,803,000 | $16.80M | 3.94% |
| 4 | BANCO SANTANDER | — | 14,923,000 | $14.93M | 3.50% |
| 5 | DOWDUPONT | — | 8,455,000 | $8.45M | 1.98% |
| 6 | FORD MOTOR CREDIT CO LLC 3.375000% 11/13/2025 | — | 7,110,000 | $7.11M | 1.67% |
| 7 | LLOYDS BK GR PLC | — | 6,835,000 | $6.83M | 1.60% |
| 8 | ILLUMINA INC GLBL NT 5.8% Due 12/12/2025 | — | 4,780,000 | $4.78M | 1.12% |
| 9 | ORACLE CORP | — | 4,715,000 | $4.72M | 1.11% |
| 10 | MORGAN STANLEY | — | 3,735,000 | $3.74M | 0.88% |
| 11 | DUKE ENERGY COR | — | 3,243,000 | $3.24M | 0.76% |
| 12 | ROGERS COMMUNIC | — | 3,222,000 | $3.22M | 0.75% |
| 13 | CITIZENS FINANCIAL GROUP SUBORDINATED 12/25 4.3 | CFG | 2,896,000 | $2.90M | 0.68% |
| 14 | CIGNA GROUP/THE | — | 2,855,000 | $2.85M | 0.67% |
| 15 | CONAGRA BRANDS | — | 2,550,000 | $2.55M | 0.60% |
| 16 | AMER ELEC PWR | — | 2,305,000 | $2.30M | 0.54% |
| 17 | DR PEPPER SNAPPL | — | 2,225,000 | $2.22M | 0.52% |
| 18 | ALLSTATE CORP | — | 1,850,000 | $1.84M | 0.43% |
| 19 | EQUIFAX INC | — | 1,682,000 | $1.68M | 0.39% |
| 20 | STRYKER CORP | — | 1,650,000 | $1.65M | 0.39% |
| 21 | AON PLC | — | 1,140,000 | $1.14M | 0.27% |
| 22 | NNN REIT INC 4% 11/15/2025 | — | 995,000 | $994.64K | 0.23% |
| 23 | JUNIPER NETWORKS | — | 867,000 | $863.71K | 0.20% |
| 24 | VERIZON COMM INC | — | 865,000 | $863.41K | 0.20% |
| 25 | ROPER TECHNOLOGI | — | 850,000 | $848.69K | 0.20% |
| 26 | DOVER CORP | — | 806,000 | $805.47K | 0.19% |
| 27 | HALLIBURTON CO | — | 723,000 | $721.77K | 0.17% |
| 28 | BROADCOM INC | — | 430,000 | $429.55K | 0.10% |
| 29 | NUTRIEN LTD | — | 250,000 | $250.02K | 0.06% |
| 30 | CUBESMART LP | — | 230,000 | $229.87K | 0.05% |
| 31 | REPUBLIC SVCS | — | 225,000 | $224.66K | 0.05% |
| 32 | CONSTELLATION BR | — | 20,000 | $20.00K | 0.00% |
| 33 | COCA-COLA BOTTL | — | 10,000 | $9.99K | 0.00% |
| 34 | Veritas US Inc 2024 Priority Term Loan | — | 779 | $783 | 0.00% |
| 35 | Clover Holdings SPV III LLC Dollar Term Loan | — | 0 | $0 | 0.00% |
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