FundWatcher
MSTBX
Morningstar Defensive Bond Fund
Morningstar Funds Trust
Fund of funds

Portfolio concentration

As of January 30, 2026 · N-PORT
Holdings
207
Top-10 weight
68.23%
Effective holdings ?
8
Crowding ?
37.0

Holdings

As of January 30, 2026 · N-PORT
#SecurityTickerSharesValue% of fund
1 Schwab Strategic Trust SHORT-TERM US TREASURY ETF SCHO 1,612,960 $39.39M 35.90%
2 iShares Ultra Short Duration Bond Active ETF ICSH 258,872 $13.14M 11.98%
3 Northern Institutional Liquid Asset Portfolio — 12,933,800 $12.93M 11.79%
4 VANGUARD SHORT-TERM TIPS MUTUAL FUND VTIP 121,257 $6.03M 5.50%
5 NT-INST TRSR-PRM NTPXX 4,660,181 $4.66M 4.25%
6 US TREASURY N/B — 1,887,000 $1.88M 1.71%
7 PHI Group Inc COM PHIG 44,387 $1.42M 1.29%
8 US TREASURY N/B — 1,169,000 $1.16M 1.06%
9 NT-INST TRSR-PRM NTPXX 1,089,520 $1.09M 0.99%
10 US TREASURY N/B — 943,000 $936.66K 0.85%
11 U.S. Treasury Bills B 924,000 $923.72K 0.84%
12 US TREASURY N/B — 883,000 $914.46K 0.83%
13 FN FS1967 FNMA 1,025,079 $899.75K 0.82%
14 ABPCI Direct Lending Fund ABS II LLC ABDLF 709,700 $684.28K 0.62%
15 FR SB1000 FHLMC 735,235 $668.13K 0.61%
16 FN FS6519 FNMA 732,852 $663.77K 0.61%
17 Golub Capital Partners ABS Funding 2021-2 Ltd. GCPAF 670,670 $652.28K 0.59%
18 FN FS1680 FNMA 719,875 $631.86K 0.58%
19 FN MA4473 — 712,026 $593.28K 0.54%
20 Progress Residential Trust, Series 2024-SFR4, Class A PROG 600,133 $575.58K 0.52%
21 Freddie Mac Non Gold Pool FHLMC 619,333 $567.48K 0.52%
22 FHMS K754 A2 — 545,000 $564.23K 0.51%
23 US TREASURY N/B — 518,000 $511.32K 0.47%
24 FHMS K751 A2 — 504,000 $510.86K 0.47%
25 Arbor Multifamily Mortgage Securities Trust, Series 2020-MF1, Class A5 AMMST 540,000 $508.18K 0.46%
26 FN FS6156 FNMA 550,703 $500.51K 0.46%
27 BLUE OWL CREDIT — 468,000 $494.59K 0.45%
28 GS Mortgage-Backed Securities Trust 2022-PJ5 GSMBS 549,482 $491.95K 0.45%
29 AVIS BUDGET RENTAL CAR FUNDING AESOP LLC SER 2024-3A CL A REGD 144A P/P 5.23000000 AESOP 467,000 $479.84K 0.44%
30 FR RB5104 — 562,733 $479.69K 0.44%
31 ABPCI Direct Lending Fund ABS I Ltd. ABDLF 474,413 $467.62K 0.43%
32 MIDCAP FINL. ISSUER 6.50% MIDCAP 461,000 $461.86K 0.42%
33 Cerberus Loan Funding XLIII LLC CERB 451,000 $457.63K 0.42%
34 FHMS K117 A2 — 493,000 $440.30K 0.40%
35 VIRGINIA POWER — 424,000 $433.87K 0.40%
36 FR RB5137 FHLMC 502,712 $424.94K 0.39%
37 FR RB5110 — 495,799 $421.61K 0.38%
38 Cerberus Loan Funding XLI LLC CERB 419,000 $421.46K 0.38%
39 FN MA4445 — 484,746 $409.91K 0.37%
40 SLG Office Trust, Series 2021-OVA, Class A SLG 455,000 $408.09K 0.37%
41 FN FS7700 FNMA 464,924 $406.05K 0.37%
42 BX Trust, Series 2019-OC11, Class A BX 418,000 $398.12K 0.36%
43 Northern Institutional Liquid Asset Portfolio — 388,080 $388.08K 0.35%
44 FHMS K101 A2 — 404,000 $384.77K 0.35%
45 FNMA 15YR 1.5% 03/01/2037#FS9361 FNMA 411,997 $373.03K 0.34%
46 FR SB1298 FHLMC 411,520 $372.73K 0.34%
47 JP Morgan Mortgage Trust 2021-11 JPMMT 406,555 $368.48K 0.34%
48 OGS 5.486 08/01/32 22A OGS 351,477 $365.82K 0.33%
49 FHMS K103 A2 — 382,000 $364.95K 0.33%
50 Golub Capital Partners Clo 46M Ltd. GOCAP 343,000 $343.30K 0.31%
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