Portfolio concentration
As of September 30, 2025 · N-PORT
Holdings
301
Top-10 weight
33.33%
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.
64
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.
108.6
Holdings
As of September 30, 2025 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | US TREASURY N/B | — | 1,550,000 | $1.55M | 4.57% |
| 2 | FN CB1134 | — | 1,653,528 | $1.39M | 4.12% |
| 3 | US TREASURY N/B | — | 1,361,000 | $1.37M | 4.06% |
| 4 | US TREASURY N/B | — | 1,250,000 | $1.29M | 3.82% |
| 5 | US TREASURY N/B | — | 1,200,000 | $1.21M | 3.59% |
| 6 | US TREASURY N/B | — | 1,025,000 | $1.05M | 3.10% |
| 7 | US TREASURY N/B | — | 1,000,000 | $1.00M | 2.96% |
| 8 | Freddie Mac Pool | — | 875,472 | $800.41K | 2.37% |
| 9 | US TREASURY N/B | — | 725,000 | $750.21K | 2.22% |
| 10 | US TREASURY N/B | — | 775,000 | $719.42K | 2.13% |
| 11 | US TREASURY N/B | — | 700,000 | $713.34K | 2.11% |
| 12 | FR RA7557 | — | 705,670 | $688.03K | 2.03% |
| 13 | US TREASURY N/B | — | 675,000 | $675.05K | 2.00% |
| 14 | US TREASURY N/B | — | 500,000 | $505.43K | 1.49% |
| 15 | US TREASURY N/B | — | 450,000 | $462.76K | 1.37% |
| 16 | US TREASURY N/B | — | 472,000 | $438.81K | 1.30% |
| 17 | JP MORGAN CM TR 2016-JP2 A4 2.8218% 08/15/2049 | — | 376,000 | $372.06K | 1.10% |
| 18 | FEDERAL HOME LOAN MORTGAGE CORPORATION | — | 448,320 | $366.34K | 1.08% |
| 19 | US TREASURY N/B | — | 375,000 | $346.23K | 1.02% |
| 20 | US TREASURY N/B | — | 300,000 | $301.85K | 0.89% |
| 21 | BANK 2020-BN26 AS | — | 290,000 | $258.47K | 0.76% |
| 22 | US TREASURY N/B | — | 268,000 | $251.96K | 0.75% |
| 23 | CGCMT 2016-P4 A4 | — | 244,000 | $240.89K | 0.71% |
| 24 | G2 MA9016 | — | 230,800 | $230.97K | 0.68% |
| 25 | NORTHWESTERN MUTUAL GLOBAL FUNDING | — | 212,000 | $215.77K | 0.64% |
| 26 | T-MOBILE USA INC | — | 212,000 | $207.82K | 0.61% |
| 27 | US TREASURY N/B | — | 200,000 | $201.88K | 0.60% |
| 28 | HPEFS EQUIPMENT TRUST HPEFS 2023 2A C 144A | HPEFS | 200,000 | $201.28K | 0.60% |
| 29 | WFCM 2016-NXS6 A4 | — | 200,000 | $197.61K | 0.58% |
| 30 | PIONEER NATURAL | — | 213,000 | $191.39K | 0.57% |
| 31 | JPMORGAN CHASE | — | 173,000 | $183.07K | 0.54% |
| 32 | G2 MA9604 | — | 182,819 | $182.25K | 0.54% |
| 33 | FEDERAL NATIONAL MORTGAGE ASSOCIATION | — | 164,872 | $166.59K | 0.49% |
| 34 | HCA INC | — | 164,000 | $162.57K | 0.48% |
| 35 | CFCRE 2016-C4 A4 | — | 163,000 | $162.25K | 0.48% |
| 36 | GSMS 2016-GS2 A4 | — | 162,000 | $161.12K | 0.48% |
| 37 | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | — | 156,726 | $159.07K | 0.47% |
| 38 | MUSA 3.75 02/15/31 144A | MUSA | 171,000 | $159.06K | 0.47% |
| 39 | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | — | 150,475 | $154.99K | 0.46% |
| 40 | BANK OF AMER CRP | — | 170,000 | $152.41K | 0.45% |
| 41 | US TREASURY N/B | — | 150,000 | $148.57K | 0.44% |
| 42 | COMCAST CORP | — | 212,000 | $148.07K | 0.44% |
| 43 | BRISTOL-MYERS | — | 127,000 | $138.14K | 0.41% |
| 44 | MASTER CREDIT CARD TRUST II | — | 127,000 | $134.45K | 0.40% |
| 45 | NVR INC | — | 142,000 | $134.22K | 0.40% |
| 46 | CREDIT AGRICOLE SA SUBORDINATED 144A 01/35 VAR | ACAFP | 127,000 | $133.95K | 0.40% |
| 47 | FR SB8261 | — | 123,861 | $126.67K | 0.37% |
| 48 | MPLX LP | — | 127,000 | $126.35K | 0.37% |
| 49 | VERIZON COMM INC | — | 170,000 | $124.37K | 0.37% |
| 50 | AMGEN INC | — | 119,000 | $121.76K | 0.36% |
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Machine-readable: JSON · Markdown. Programmatic access via the agent surface.