MSTBX Portfolio moves — Morningstar Defensive Bond Fund

MSTBX

Morningstar Defensive Bond Fund

Morningstar Funds Trust

Fund of funds

Portfolio moves

Net position changes between two of this fund's N-PORT snapshots. These are differences between point-in-time reports — not a trade log — and share counts can be affected by splits and other corporate actions.

From To

Oct 31, 2025 → Jan 30, 2026

Expand a category to see the positions behind it, ranked by weight.

Security	Shares Jan 2026	Δ shares	End %	Δ value
U.S. Treasury Bills	924,000	924,000	0.75%	$923.72K
US TREASURY N/B	518,000	518,000	0.42%	$511.32K
SCE RECOVERY FUNDING LLC SR SECURED 03/36 4.453	312,000	312,000	0.25%	$313.30K
WI TREASURY SEC. 0.000000% 02/19/2026	258,000	258,000	0.21%	$257.56K
BANK5, Series 2025-5YR18, Class A3	145,000	145,000	0.12%	$149.09K
BMO 2025-5C13 A3	100,000	100,000	0.08%	$103.00K
GreatAmerica Leasing Receivables Funding LLC	100,000	100,000	0.08%	$100.64K
MMAF 2026-A A4	100,000	100,000	0.08%	$100.09K
WINDSTREAM SERVICES LLC	23	23	0.02%	$23.38K
WTS. UNITI GROUP INC	714	714	0.00%	$5.94K

Security	Shares Oct 2025	Δ shares	End %	Δ value
US TREASURY N/B	1,416,000	-1,416,000	0.00%	-$1.43M
FHMS K096 A2	774,000	-774,000	0.00%	-$737.07K
FHMS K095 A2	725,000	-725,000	0.00%	-$697.54K
FHMS K094 A2	532,000	-532,000	0.00%	-$513.67K
TOYOTA AUTO LOAN EXTENDED NOTE TRUST 2024-1 TALNT 2024-1A A	409,000	-409,000	0.00%	-$423.10K
Ford Credit Floorplan Master Owner Trust A	374,000	-374,000	0.00%	-$387.21K
BX Commercial Mortgage Trust 2021-VOLT	358,466	-358,466	0.00%	-$358.13K
GFORT 2024-2A A	342,000	-342,000	0.00%	-$352.55K
SHINE 2021-1A C	282,000	-282,000	0.00%	-$263.84K
BX Commercial Mortgage Trust, Series 2021-VOLT, Class E	234,456	-234,456	0.00%	-$234.24K
UST BILLS 0% 11/13/2025	118,000	-118,000	0.00%	-$117.87K
HOTWIRE FUNDING LLC HWIRE 2023 1A A2 144A	115,000	-115,000	0.00%	-$115.98K
DNFRA 2021-1A C	104,000	-104,000	0.00%	-$100.21K
Elm 2020-4 Trust	69,379	-69,379	0.00%	-$69.25K
Elm 2020-3 Trust	27,916	-27,916	0.00%	-$27.87K
PLACEHOLD WINDSTRM PREF S	23	-23	0.00%	-$23.38K
Elm 2020-4 Trust	17,934	-17,934	0.00%	-$17.90K
U.S. Treasury Bills	17,000	-17,000	0.00%	-$16.99K
Elm 2020-3 Trust	10,225	-10,225	0.00%	-$10.21K
PLACEHOLD WINDSTRM WARRNT	714	-714	0.00%	$0

Security	Shares Oct 2025	Shares Jan 2026	Δ shares	End %	Δ value
Northern Institutional Liquid Asset Portfolio	1,700,000	13,321,880	11,621,880	10.83%	$11.62M
NT-INST TRSR-PRM	4,996,988	5,750,311	753,322	4.67%	$753.32K
US TREASURY N/B	253,000	1,169,000	916,000	0.94%	$908.62K

Security	Shares Oct 2025	Shares Jan 2026	Δ shares	End %	Δ value
Schwab Strategic Trust SHORT-TERM US TREASURY ETF	1,726,672	1,612,960	-113,712	32.02%	-$2.78M
iShares Ultra Short Duration Bond Active ETF	282,957	258,872	-24,085	10.68%	-$1.22M
VANGUARD SHORT-TERM TIPS MUTUAL FUND	124,391	121,257	-3,134	4.90%	-$194.42K
FN FS1967	1,054,956	1,025,079	-29,877	0.73%	-$19.09K
ABPCI Direct Lending Fund ABS II LLC	758,323	709,700	-48,622	0.56%	-$42.93K
FR SB1000	762,812	735,235	-27,577	0.54%	-$19.91K
FN FS6519	756,342	732,852	-23,490	0.54%	-$16.17K
Golub Capital Partners ABS Funding 2021-2 Ltd.	711,484	670,670	-40,815	0.53%	-$39.76K
FN FS1680	741,333	719,875	-21,458	0.51%	-$13.82K
FN MA4473	728,076	712,026	-16,049	0.48%	-$23.68K
Progress Residential Trust, Series 2024-SFR4, Class A	600,644	600,133	-511	0.47%	$2.65K
Freddie Mac Non Gold Pool	628,735	619,333	-9,402	0.46%	-$6.52K
FN FS6156	571,567	550,703	-20,864	0.41%	-$15.10K
GS Mortgage-Backed Securities Trust 2022-PJ5	555,689	549,482	-6,208	0.40%	$1.07K
FR RB5104	574,587	562,733	-11,854	0.39%	-$1.52K
ABPCI Direct Lending Fund ABS I Ltd.	501,687	474,413	-27,275	0.38%	-$25.26K
FR RB5137	513,726	502,712	-11,014	0.35%	-$10.38K
FR RB5110	505,848	495,799	-10,049	0.34%	-$8.31K
FN MA4445	494,767	484,746	-10,021	0.33%	-$9.50K
FN FS7700	472,651	464,924	-7,727	0.33%	-$5.10K
FNMA 15YR 1.5% 03/01/2037#FS9361	425,128	411,997	-13,131	0.30%	-$9.02K
FR SB1298	425,291	411,520	-13,771	0.30%	-$9.60K
JP Morgan Mortgage Trust 2021-11	416,798	406,555	-10,242	0.30%	-$5.54K
FN FS9622	391,009	382,496	-8,514	0.27%	-$2.41K
FN FS7513	313,161	303,312	-9,850	0.24%	-$8.65K
JP Morgan Mortgage Trust 2021-10	334,441	327,183	-7,258	0.24%	-$3.59K
JP Morgan Mortgage Trust 2021-13	327,562	319,527	-8,034	0.24%	-$4.34K
PG&E RECOV FND	297,648	281,195	-16,453	0.23%	-$16.44K
FN FS9576	320,164	308,968	-11,196	0.23%	-$7.95K
FR RB5113	324,068	317,479	-6,590	0.22%	-$5.61K
FR SC0443	313,774	307,271	-6,503	0.22%	-$4.60K
FN FA1527	307,559	301,305	-6,254	0.21%	-$5.93K
Sequoia Mortgage Trust 2025-S1	286,420	279,383	-7,037	0.20%	-$4.22K
GS Mortgage-Backed Securities Trust 2022-PJ6	280,634	273,193	-7,441	0.20%	-$3.65K
FN 310215	246,867	239,764	-7,102	0.19%	-$6.01K
FN FA1315	262,587	257,026	-5,560	0.18%	-$5.25K
FR QK0692	260,798	253,286	-7,512	0.18%	-$2.30K
Golub Capital Partners ABS Funding 2021-1 Ltd.	256,665	211,695	-44,969	0.17%	-$42.78K
GS Mortgage-Backed Securities Trust 2021-PJ7	228,929	222,976	-5,953	0.16%	-$3.33K
JP Morgan Mortgage Trust Series 2024-3	223,422	217,844	-5,578	0.16%	-$3.54K
FN BQ6602	226,546	220,170	-6,376	0.16%	-$4.23K
FR QN7387	223,797	216,207	-7,590	0.16%	-$5.07K
GS Mortgage-Backed Securities Corp. Trust 2021-PJ5	218,961	213,600	-5,362	0.16%	-$3.75K
FR SC0457	213,572	208,896	-4,676	0.15%	-$3.35K
FR SC0659	219,671	215,185	-4,485	0.15%	-$4.25K
FN BM7277	195,816	188,452	-7,364	0.14%	-$5.91K
ABPCI Direct Lending Fund ABS II LLC	181,673	170,024	-11,649	0.14%	-$11.34K
GS Mortgage-Backed Securities Corp. Trust 2022-PJ4	188,912	184,086	-4,826	0.13%	-$2.67K
FN BM7354	181,316	179,853	-1,463	0.13%	-$575
FR SC0592	199,535	195,138	-4,396	0.13%	-$4.35K
FN FS7748	182,575	176,769	-5,806	0.13%	-$4.02K
FN FS6264	175,512	171,480	-4,032	0.12%	-$2.92K
FR QN7917	166,837	162,472	-4,364	0.12%	-$2.81K
FN FA1222	176,332	172,373	-3,959	0.12%	-$2.86K
FR QN4913	165,274	159,901	-5,373	0.12%	-$3.77K
Monroe Capital ABS Funding Ltd., Series 2021-1A, Class A2	155,529	147,350	-8,179	0.12%	-$7.68K
JPSMT 2025-1 A4	147,288	143,171	-4,117	0.11%	-$4.16K
FN MA4454	153,830	149,282	-4,548	0.11%	-$2.95K
FR RB5107	147,107	143,928	-3,179	0.10%	-$2.58K
Government National Mortgage Association	2,160,256	2,037,564	-122,692	0.10%	-$8.84K
Golub Capital Partners ABS Funding 2020-1 Ltd.	160,245	117,959	-42,286	0.09%	-$38.64K
FN MA4176	133,188	129,978	-3,209	0.09%	-$1.41K
SpringCastle America Funding LLC, Series 2020-AA, Class A	130,723	121,379	-9,344	0.09%	-$9.08K
GS Mortgage-Backed Securities Trust 2021-PJ6	125,297	122,205	-3,092	0.09%	-$2.17K
FN MA4334	123,537	120,952	-2,586	0.09%	-$1.16K
JP Morgan Mortgage Trust 2021-10	124,583	121,879	-2,704	0.09%	-$1.07K
FR RC2043	121,917	118,093	-3,823	0.09%	-$2.63K
FN MA4301	124,721	120,785	-3,936	0.09%	-$2.61K
FR SC0576	121,697	118,993	-2,704	0.08%	-$1.91K
FN FS9724	121,886	119,157	-2,729	0.08%	-$500
FN MA4302	114,766	111,030	-3,736	0.08%	-$2.61K
Progress Residential Trust, Series 2024-SFR5, Class A	104,999	104,414	-585	0.08%	-$283
GS MORTGAGE BACKED SECURITIES CORP TRUST 2022 PJ2	108,393	106,216	-2,177	0.08%	-$1.45K
VCRRL 2021-1A A	134,402	98,214	-36,188	0.08%	-$34.95K
SATS 3.875 11/30/30	65,359	27,000	-38,359	0.08%	-$63.47K
FNMA POOL MA4202 FN 12/40 FIXED 1.5	111,727	109,331	-2,396	0.08%	-$379
FR RB5134	109,221	107,100	-2,121	0.07%	-$2.02K
Government National Mortgage Association	1,353,865	1,346,674	-7,192	0.07%	-$2.15K
Monroe Capital ABS Funding 2021-1 Ltd.	93,991	89,048	-4,943	0.07%	-$4.52K
Freddie Mac Non Gold Pool	93,368	91,975	-1,392	0.07%	-$965
FN MA4417	94,727	91,724	-3,003	0.07%	-$2.13K
VCRRL 2021-1A B	123,971	90,592	-33,379	0.07%	-$33.46K
Freddie Mac Non Gold Pool	90,423	87,495	-2,928	0.07%	-$2.44K
FN FS7628	84,608	82,424	-2,184	0.07%	-$1.85K
FN MA4488	94,754	92,259	-2,495	0.07%	-$1.55K
FN FS7649	83,782	81,485	-2,297	0.07%	-$1.99K
GOLUB CAPITAL PARTNERS ABS FUN GCPAF 2021 1A A2 144A	96,459	79,559	-16,900	0.06%	-$16.44K
FR RB5084	93,911	91,751	-2,160	0.06%	-$659
FR ZS3012	81,307	78,892	-2,415	0.06%	-$2.08K
FR ZJ0720	82,177	78,738	-3,439	0.06%	-$3.21K
FR RB5090	89,364	87,255	-2,109	0.06%	-$208
FN FS6661	81,002	78,093	-2,909	0.06%	-$2.61K
JP MORGAN MORTGAGE TRUST 2021 6	84,194	81,951	-2,243	0.06%	-$1.24K
PRETIUM MORTGAGE CREDIT PARTNE PRET 2024 RPL1 A1 144A	79,353	76,982	-2,371	0.06%	-$2.33K
FR SB1242	87,004	84,346	-2,658	0.06%	-$1.74K
FN FS5363	77,756	74,921	-2,835	0.06%	-$2.58K
Freddie Mac Non Gold Pool	77,852	76,448	-1,404	0.06%	-$1.09K
FN MA4328	83,428	80,653	-2,775	0.06%	-$2.07K
FR SC0504	87,939	86,023	-1,915	0.06%	-$1.80K
FR QK0622	86,385	84,960	-1,425	0.06%	$140
UMBS	86,879	84,947	-1,932	0.06%	-$350
Uniform Mortgage-Backed Securities	86,768	84,886	-1,882	0.06%	-$1.77K
FR SC0501	88,049	86,201	-1,848	0.06%	-$3.55K
FN MA4175	84,884	83,064	-1,820	0.06%	-$416
Government National Mortgage Association	1,139,799	1,030,257	-109,542	0.06%	-$10.72K
FN MA4204	79,669	77,760	-1,909	0.06%	-$646
Freddie Mac Non Gold Pool	74,895	74,331	-564	0.05%	-$177
Government National Mortgage Association Variable Rate Notes, Series 2020-43	872,244	858,638	-13,606	0.05%	-$2.30K
FN BR2134	74,853	72,951	-1,901	0.05%	-$1.56K
GS Mortgage-Backed Securities Trust 2022-PJ3	71,499	69,302	-2,197	0.05%	-$1.50K
JP Morgan Mortgage Trust 2021-7	70,861	68,984	-1,877	0.05%	-$1.34K
JP MORGAN MORTGAGE TRUST 2022-3 JPMMT 2022-3 A4A	71,582	69,482	-2,101	0.05%	-$1.22K
GS Mortgage-Backed Securities Trust 2022-PJ3	71,499	69,302	-2,197	0.05%	-$1.20K
FN MA4382	70,844	68,544	-2,300	0.05%	-$1.55K
JP MORGAN MORTGAGE TRUST 2021 8	69,837	68,159	-1,678	0.05%	-$995
WEPCO ENVIRONMENTAL TRUST FINANCE I LLC	70,228	66,351	-3,876	0.05%	-$3.77K
GS MORTGAGEBACKED SECURITIES TRUST GSMBS_21-PJ10	67,642	66,048	-1,595	0.05%	-$1.11K
FR RB5121	69,612	68,103	-1,509	0.05%	-$1.31K
J.P. Morgan Mortgage Trust, Series 2021-15, Class A4	67,313	65,706	-1,607	0.05%	-$880
FR RB5117	71,105	69,550	-1,555	0.05%	-$1.16K
Freddie Mac Non Gold Pool	64,729	63,455	-1,274	0.05%	-$989
FN MA4278	61,959	59,930	-2,028	0.04%	-$1.42K
GS Mortgage-Backed Securities Corp. Trust 2021-PJ4	60,310	58,969	-1,341	0.04%	-$678
FR SB8109	61,809	59,909	-1,900	0.04%	-$1.25K
FN MA4359	60,007	58,117	-1,890	0.04%	-$1.39K
FR SB8102	58,132	56,246	-1,886	0.04%	-$1.32K
FR SB8097	57,334	55,450	-1,884	0.04%	-$1.32K
FNR 2012-144 PD	52,233	46,791	-5,443	0.04%	-$5.15K
GOLUB CAPITAL PARTNERS ABS FUN GCPAF 2020 1A A2 144A	62,123	44,266	-17,857	0.04%	-$17.66K
Freddie Mac REMICS	49,838	44,647	-5,192	0.04%	-$4.98K
FR RB5076	47,287	46,151	-1,136	0.03%	-$717
Government National Mortgage Association	861,404	856,289	-5,114	0.02%	-$364
FNS 284 1	14,692	10,528	-4,164	0.01%	-$3.99K
Government National Mortgage Association	475,740	465,665	-10,074	0.00%	-$102
Government National Mortgage Association	36,613	36,102	-511	0.00%	-$32
J.C. Penney Corporation TLb 425 2023-06-23	227,454	225,538	-1,916	0.00%	-$0

Security	Shares Oct 2025	Shares Jan 2026	End %	Δ value
US TREASURY N/B	1,887,000	1,887,000	1.52%	-$5.31K
PHI Group Inc COM	44,387	44,387	1.15%	$0
US TREASURY N/B	943,000	943,000	0.76%	-$2.80K
US TREASURY N/B	883,000	883,000	0.74%	-$4.35K
FHMS K754 A2	545,000	545,000	0.46%	-$1.27K
FHMS K751 A2	504,000	504,000	0.42%	-$241
Arbor Multifamily Mortgage Securities Trust, Series 2020-MF1, Class A5	540,000	540,000	0.41%	$3.28K
BLUE OWL CREDIT	468,000	468,000	0.40%	-$2.42K
AVIS BUDGET RENTAL CAR FUNDING AESOP LLC SER 2024-3A CL A REGD 144A P/P 5.23000000	467,000	467,000	0.39%	-$984
MIDCAP FINL. ISSUER 6.50%	461,000	461,000	0.38%	$9.05K
Cerberus Loan Funding XLIII LLC	451,000	451,000	0.37%	-$240
FHMS K117 A2	493,000	493,000	0.36%	$2.54K
VIRGINIA POWER	424,000	424,000	0.35%	$24
Cerberus Loan Funding XLI LLC	419,000	419,000	0.34%	$1.75K
SLG Office Trust, Series 2021-OVA, Class A	455,000	455,000	0.33%	$2.19K
BX Trust, Series 2019-OC11, Class A	418,000	418,000	0.32%	$2.50K
FHMS K101 A2	404,000	404,000	0.31%	$1.72K
OGS 5.486 08/01/32 22A	351,477	351,477	0.30%	$971
FHMS K103 A2	382,000	382,000	0.30%	$1.36K
Golub Capital Partners Clo 46M Ltd.	343,000	343,000	0.28%	-$251
FHMS K097 A2	359,000	359,000	0.28%	$1.41K
OAKTREE STRATEG	313,000	313,000	0.27%	-$236
CNP 4.255 12/15/35 A-1	321,000	321,000	0.26%	-$1.16K
CHI COMMERCIAL MORTGAGE TRUST 2025-SFT SER 2025-SFT CL A V/R REGD 144A P/P 5.48216000	291,000	291,000	0.24%	-$61
Copper Property CTL Pass Through Trust EQUITY CTFS	25,536	25,536	0.23%	-$30.39K
FHMS K102 A2	271,000	271,000	0.21%	$1.15K
Cerberus Loan Funding XL LLC	250,000	250,000	0.20%	$595
Verizon Master Trust	233,000	233,000	0.19%	$415
HPS CORPORATE LE	207,000	207,000	0.18%	$577
ROCK Trust, Series 2024-CNTR, Class A	209,000	209,000	0.17%	$500
FORDF 2024-4 A	197,000	197,000	0.16%	$807
Freddie Mac Multifamily Structured Pass-Through Certificates	183,000	183,000	0.15%	$307
VT TOPCO INC SR SECURED 144A 08/30 8.5	164,000	164,000	0.14%	-$2.55K
FHMS K099 A2	155,000	155,000	0.12%	$657
FHMS K752 A2	136,000	136,000	0.11%	-$53
FHMS K109 A2	151,000	151,000	0.11%	$738
MMAF Equipment Finance LLC, Series 2024-A, Class A4	132,000	132,000	0.11%	-$14
BMARK 2024-V11 A3 FRN 11-15-57	126,000	126,000	0.11%	-$99
BMO Mortgage Trust, Series 2024-5C7, Class A3	126,000	126,000	0.11%	-$86
Avis Budget Rental Car Funding AESOP LLC, Series 2024-1A, Class A	125,000	125,000	0.10%	$191
FHMS K120 A2	140,000	140,000	0.10%	$716
Progress Residential Trust, Series 2024-SFR3, Class A	130,578	130,578	0.10%	$112
FHMS K104 A2	118,000	118,000	0.09%	$502
BBCMS Mortgage Trust, Series 2025-5C36, Class A3	100,000	100,000	0.08%	-$122
WHARF COMMERCIAL MORTGAGE TRUS WHARF 2025 DC A 144A	100,000	100,000	0.08%	$343
VOLVO FINANCIAL EQUIPMENT LLC SERIES 2025-2 VFET 2025-2A A4	100,000	100,000	0.08%	$170
Progress Residential Trust, Series 2025-SFR3, Class A	100,000	100,000	0.08%	$22
FHMS K106 A2	100,000	100,000	0.08%	$446
FHMS K105 A2	100,000	100,000	0.08%	$492
FHMS K107 A2	100,000	100,000	0.07%	$551
FHMS K108 A2	100,000	100,000	0.07%	$556
FHMS K111 A2	100,000	100,000	0.07%	$554
FHMS K114 A2	100,000	100,000	0.07%	$521
FHMS K116 A2	100,000	100,000	0.07%	$395
TX NATURAL GAS SECZ	83,731	83,731	0.07%	-$86
HRT DNT/HRT FIN	79,000	79,000	0.07%	-$1.03K
TX ELECTRIC MRKT	79,539	79,539	0.06%	-$304
UNITI GROUP INC	3,665	3,665	0.02%	$9.38K

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