Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
247
Top-10 weight
16.63%
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.
125
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.
32.6
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | US TREASURY N/B | — | 27,245,000 | $26.23M | 4.56% |
| 2 | U.S. Treasury STRIPS Principal | SP | 21,540,000 | $9.27M | 1.61% |
| 3 | US TREASURY N/B | — | 12,500,000 | $8.17M | 1.42% |
| 4 | United States Small Business Administration | SBAP | 7,759,433 | $7.87M | 1.37% |
| 5 | SBAP 2022-25I 1 | SBAP | 8,020,492 | $7.79M | 1.35% |
| 6 | STRIP PRINC 05/45 0.00000 | SP | 19,894,000 | $7.65M | 1.33% |
| 7 | U.S. Treasury Bonds Principal STRIPS | SP | 26,500,000 | $7.56M | 1.32% |
| 8 | GNR 2025-145 AK | GNR | 6,966,093 | $7.27M | 1.26% |
| 9 | GNR 2025-162 BA | GNR | 6,812,927 | $7.07M | 1.23% |
| 10 | GNR 2025-153 AK | GNR | 5,977,716 | $6.27M | 1.09% |
| 11 | GNR 2025-142 BA | GNR | 5,968,154 | $6.17M | 1.07% |
| 12 | GNR 2025-185 AM | GNR | 5,858,375 | $6.09M | 1.06% |
| 13 | FN FS1887 | FNMA | 6,386,039 | $5.68M | 0.99% |
| 14 | United States Small Business Administration | SBAP | 5,324,709 | $5.43M | 0.94% |
| 15 | United States Small Business Administration | SBAP | 5,426,735 | $5.38M | 0.94% |
| 16 | UNITED STATES SMALL BUSINESS ADMINISTRATION SBAP 2023-25F 1 | SBAP | 5,200,233 | $5.26M | 0.91% |
| 17 | United States Small Business Administration | SBAP | 5,024,860 | $5.13M | 0.89% |
| 18 | SBIC 2024-10B 1 | SBAP | 5,105,117 | $5.05M | 0.88% |
| 19 | US TREASURY N/B | — | 9,000,000 | $5.01M | 0.87% |
| 20 | FHMR 2024-P015 A | FHMR | 5,103,378 | $4.99M | 0.87% |
| 21 | FR SD7152 | FHLMC | 4,832,017 | $4.98M | 0.87% |
| 22 | U.S. Treasury Bills | B | 5,000,000 | $4.96M | 0.86% |
| 23 | FR RA8086 | FHLMC | 4,914,765 | $4.90M | 0.85% |
| 24 | SBAP 2025-25C 1 | SBAP | 4,755,614 | $4.84M | 0.84% |
| 25 | Government National Mortgage A | GNR | 5,283,533 | $4.56M | 0.79% |
| 26 | JPMORGAN CHASE | — | 5,000,000 | $4.52M | 0.79% |
| 27 | LA LOCAL GOVT ENVRN-A | — | 4,445,000 | $4.42M | 0.77% |
| 28 | US TREASURY N/B | — | 6,140,000 | $4.27M | 0.74% |
| 29 | G2 MA9171 | — | 4,177,000 | $4.22M | 0.73% |
| 30 | United States Small Business Administration | SBAP | 3,901,663 | $3.94M | 0.68% |
| 31 | ATTRII 6.088 12/15/44 144A | ATTRII | 3,955,731 | $3.92M | 0.68% |
| 32 | SBAP 2021-25L 1 | SBAP | 4,634,121 | $3.91M | 0.68% |
| 33 | GNR 2020-118 AB | GNR | 4,758,647 | $3.84M | 0.67% |
| 34 | SBIC 2023-10A 1 | SBAP | 3,771,965 | $3.84M | 0.67% |
| 35 | FN BL3622 | FNMA | 3,860,363 | $3.83M | 0.67% |
| 36 | FN MA4709 | — | 3,824,047 | $3.79M | 0.66% |
| 37 | KROGER CO | — | 3,345,000 | $3.64M | 0.63% |
| 38 | Uniform Mortgage-Backed Securities | FHLMC | 3,466,796 | $3.55M | 0.62% |
| 39 | T-MOBILE USA INC | — | 4,000,000 | $3.52M | 0.61% |
| 40 | Neuberger Berman Loan Advisers CLO Ltd., Series 2021-42A, Class AR | NEUB | 3,500,000 | $3.49M | 0.61% |
| 41 | FN AM9682 | FNMA | 3,967,524 | $3.46M | 0.60% |
| 42 | PIEDMONT HLTH | — | 3,955,000 | $3.44M | 0.60% |
| 43 | United States Small Business Administration | SBAP | 3,300,055 | $3.39M | 0.59% |
| 44 | SBAP 2021-25I 1 | SBAP | 4,072,414 | $3.38M | 0.59% |
| 45 | FR WN2314 | FHLMC | 3,358,000 | $3.35M | 0.58% |
| 46 | PNC BANK NA | — | 3,500,000 | $3.29M | 0.57% |
| 47 | SBIC 2021-10B 1 | SBAP | 3,635,992 | $3.24M | 0.56% |
| 48 | UNITED STATES SMALL BUSINESS ADMINISTRATION SBAP 2022-25H 1 | SBAP | 3,377,503 | $3.23M | 0.56% |
| 49 | FN BS5630 | FNMA | 3,344,710 | $3.23M | 0.56% |
| 50 | GNR 2025-126 BA | GNR | 3,068,833 | $3.17M | 0.55% |
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