ContactHarbor Core Bond Fund (HACBX)
Harbor Core Bond Fund (HACBX)
Aware, but not constrained. The bottom-up security selection process seeks to add value by rotating between sectors based on relative value. The portfolio managers are aware of the benchmark, but not constrained by it, and take the opportunities that the market offers. Purchase and sell decisions focus on fundamental credit analysis, security structure and price relative to other opportunities.
Disciplined approach. The team-oriented investment decision-making process is disciplined, repeatable, and based on a core foundation of bottom-up research. That process supports a duration- and curve-neutral portfolio.
Stable, experienced, and independent. IR+M is a privately-owned, independent, fixed income investment manager, with over 30 years of experience serving private and institutional clients. The investment team has experience managing through various credit cycles. All members of IR+M's Management Committee and senior portfolio managers have ownership in the firm and are dedicated to its success.
Related Products to Consider
Overview
Investment Team
As of 4/22/2024
$8.65
Price (NAV)
$0.01
NAV Daily Change ($)
0.12%
NAV Daily Change (%)
-2.84%
NAV YTD Return
4.39%
Current 30-Day Sub. SEC Yield
4.38%
Current 30-Day Unsub. SEC Yield
4.48%
Effective 30-Day Sub. SEC Yield
4.47%
Effective 30-Day Unsub. SEC Yield
As of 3/31/2024
6/1/2018
Inception Date
0.34
Net Expense Ratio
0.44
Gross Expense Ratio
$159.097
Total Net Assets (million)
As of 3/31/2024
HACBX
Ticker
2043
Fund Number
Institutional Class
Share Class
“Our team comes in every day excited to build a diversified portfolio comprised of unique bond structures and attractive relative-value ideas. Sitting shoulder-to-shoulder, our portfolio managers, traders, and analysts work together to provide solid, consistent investment results within appropriate risk parameters."
Bill O'Malley
Chief Executive Officer, Co-Chief Investment Officer and Senior Portfolio Manager, Income Research + Management
Performance
3 Mo.
YTD Return
1 Yr.
3 Yr.
5 Yr.
Since Inception
Net Expense Ratio
Gross Expense Ratio
Core Bond Fund
-0.70%
-0.70%
1.72%
-2.61%
0.56%
1.23%
0.34%
0.44%
Bloomberg US Aggregate Bond Index
-0.78%
-0.78%
1.70%
-2.46%
0.36%
1.13%
--
--
Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborcapital.com or by calling 800-422-1050.
The Bloomberg US Aggregate Bond Index is an unmanaged index of investment-grade fixed-rate debt issues with maturities of at least one year. This unmanaged index does not reflect fees and expenses and is not available for direct investment.
Distribution History
Record Date
Reinvest Date
Payable Date
Return of Capital Non Taxable Dist
Ordinary Income
Total Capital Gains
Short Term Capital Gains
Mid Term Capital Gains
Long Term Capital Gains
Total Distribution
Foreign Tax Credit
Reinvest Price
3/27/2024
3/28/2024
3/28/2024
0.00000
0.02509
0.00000
--
0.00000
--
0.02509
0.00000
--
2/28/2024
2/29/2024
2/29/2024
0.00000
0.02053
0.00000
--
0.00000
--
0.02053
0.00000
8.79
1/30/2024
1/31/2024
1/31/2024
0.00000
0.02136
0.00000
--
0.00000
--
0.02136
0.00000
8.93
12/18/2023
12/19/2023
12/19/2023
0.00000
0.04706
0.00000
--
0.00000
--
0.04706
0.00000
8.92
11/29/2023
11/30/2023
11/30/2023
0.00000
0.02703
0.00000
--
0.00000
--
0.02703
0.00000
8.69
10/27/2023
10/30/2023
10/30/2023
0.00000
0.02875
0.00000
--
0.00000
--
0.02875
0.00000
8.35
9/28/2023
9/29/2023
9/29/2023
0.00000
0.02619
0.00000
--
0.00000
--
0.02619
0.00000
8.52
8/30/2023
8/31/2023
8/31/2023
0.00000
0.02858
0.00000
--
0.00000
--
0.02858
0.00000
8.77
7/28/2023
7/31/2023
7/31/2023
0.00000
0.02808
0.00000
--
0.00000
--
0.02808
0.00000
8.85
6/29/2023
6/30/2023
6/30/2023
0.00000
0.02717
0.00000
--
0.00000
--
0.02717
0.00000
8.88
5/30/2023
5/31/2023
5/31/2023
0.00000
0.03197
0.00000
--
0.00000
--
0.03197
0.00000
8.93
4/27/2023
4/28/2023
4/28/2023
0.00000
0.02542
0.00000
--
0.00000
--
0.02542
0.00000
9.06
3/30/2023
3/31/2023
3/31/2023
0.00000
0.02891
0.00000
--
0.00000
--
0.02891
0.00000
9.03
2/27/2023
2/28/2023
2/28/2023
0.00000
0.02317
0.00000
--
0.00000
--
0.02317
0.00000
8.86
1/30/2023
1/31/2023
1/31/2023
0.00000
0.02117
0.00000
--
0.00000
--
0.02117
0.00000
9.11
12/16/2022
12/19/2022
12/19/2022
0.00000
0.07157
0.00000
--
0.00000
--
0.07157
0.00000
8.97
11/28/2022
11/29/2022
11/29/2022
0.00000
0.02163
0.00000
--
0.00000
--
0.02163
0.00000
8.87
10/27/2022
10/28/2022
10/28/2022
0.00000
0.02062
0.00000
--
0.00000
--
0.02062
0.00000
8.67
9/28/2022
9/29/2022
9/29/2022
0.00000
0.01929
0.00000
--
0.00000
--
0.01929
0.00000
8.81
8/29/2022
8/30/2022
8/30/2022
0.00000
0.02258
0.00000
--
0.00000
--
0.02258
0.00000
9.24
7/27/2022
7/28/2022
7/28/2022
0.00000
0.01869
0.00000
--
0.00000
--
0.01869
0.00000
9.47
6/28/2022
6/29/2022
6/29/2022
0.00000
0.02150
0.00000
--
0.00000
--
0.02150
0.00000
9.24
5/25/2022
5/26/2022
5/26/2022
0.00000
0.02077
0.00000
--
0.00000
--
0.02077
0.00000
9.49
4/27/2022
4/28/2022
4/28/2022
0.00000
0.01467
0.00000
--
0.00000
--
0.01467
0.00000
9.48
3/29/2022
3/30/2022
3/30/2022
0.00000
0.02048
0.00000
--
0.00000
--
0.02048
0.00000
9.81
2/24/2022
2/25/2022
2/25/2022
0.00000
0.01343
0.00000
--
0.00000
--
0.01343
0.00000
10.05
1/27/2022
1/28/2022
1/28/2022
0.00000
0.01204
0.00000
--
0.00000
--
0.01204
0.00000
10.27
12/29/2021
12/30/2021
12/30/2021
0.00000
0.08259
0.00000
--
0.00000
--
0.08259
0.00000
10.49
11/26/2021
11/29/2021
11/29/2021
0.00000
0.01150
0.00000
--
0.00000
--
0.01150
0.00000
10.59
10/27/2021
10/28/2021
10/28/2021
0.00000
0.01266
0.00000
--
0.00000
--
0.01266
0.00000
10.61
9/28/2021
9/29/2021
9/29/2021
0.00000
0.01190
0.00000
0.00000
0.00000
0.00000
0.01190
0.00000
10.63
8/27/2021
8/30/2021
8/30/2021
0.00000
0.01513
0.00000
0.00000
0.00000
0.00000
0.01513
0.00000
10.74
7/28/2021
7/29/2021
7/29/2021
0.00000
0.01466
0.00000
0.00000
0.00000
0.00000
0.01466
0.00000
10.76
6/28/2021
6/29/2021
6/29/2021
0.00000
0.01643
0.00000
0.00000
0.00000
0.00000
0.01643
0.00000
10.66
5/26/2021
5/27/2021
5/27/2021
0.00000
0.01370
0.00000
0.00000
0.00000
0.00000
0.01370
0.00000
10.60
4/28/2021
4/29/2021
4/29/2021
0.00000
0.01338
0.00000
0.00000
0.00000
0.00000
0.01338
0.00000
10.59
3/29/2021
3/30/2021
3/30/2021
0.00000
0.03671
0.00000
0.00000
0.00000
0.00000
0.03671
0.00000
10.53
12/16/2020
12/17/2020
12/17/2020
0.00000
0.08317
0.22475
0.08232
0.00000
0.14243
0.30792
0.00000
10.87
9/28/2020
9/29/2020
9/29/2020
0.00000
0.05629
0.00000
0.00000
0.00000
0.00000
0.05629
0.00000
11.13
6/26/2020
6/29/2020
6/29/2020
0.00000
0.05739
0.00000
0.00000
0.00000
0.00000
0.05739
0.00000
11.05
3/27/2020
3/30/2020
3/30/2020
0.00000
0.06157
0.00000
0.00000
0.00000
0.00000
0.06157
0.00000
10.61
12/13/2019
12/16/2019
12/16/2019
0.00000
0.09052
0.07274
0.01933
0.00000
0.05341
0.16326
0.00000
10.45
9/25/2019
9/26/2019
9/26/2019
0.00000
0.07084
0.00000
0.00000
0.00000
0.00000
0.07084
0.00000
10.59
6/26/2019
6/27/2019
6/27/2019
0.00000
0.07389
0.00000
0.00000
0.00000
0.00000
0.07389
0.00000
10.43
3/27/2019
3/28/2019
3/28/2019
0.00000
0.06214
0.00000
0.00000
0.00000
0.00000
0.06214
0.00000
10.21
12/14/2018
12/17/2018
12/17/2018
0.00000
0.08695
0.00000
0.00000
0.00000
0.00000
0.08695
0.00000
9.90
9/26/2018
9/27/2018
9/27/2018
0.00000
0.06675
0.00000
0.00000
0.00000
0.00000
0.06675
0.00000
9.92
6/27/2018
6/28/2018
6/28/2018
0.00000
0.01853
0.00000
0.00000
0.00000
0.00000
0.01853
0.00000
9.98
Holdings
Full Holdings
As of 3/31/2024
Download: Full Holdings (csv)
Company Name
Maturity Date
Coupon Rate (%)
Market Value ($000's)
% of Net Assets
US TREASURY N/B
1/31/2026
4.3
46,392
5.6
US TREASURY N/B
8/15/2043
4.4
45,589
5.5
US TREASURY N/B
1/31/2029
4.0
40,944
4.9
US TREASURY N/B
2/15/2054
4.3
32,534
3.9
US TREASURY N/B
2/15/2044
4.5
29,118
3.5
US TREASURY N/B
2/15/2034
4.0
26,178
3.1
US TREASURY N/B
8/15/2053
4.1
15,793
1.9
Freddie Mac
8/1/2051
2.5
9,550
1.1
Freddie Mac
5/1/2053
4.5
8,722
1.0
MORGAN STANLEY
4/1/2031
3.6
6,116
0.7
JPMORGAN CHASE & CO
7/23/2029
4.2
6,114
0.7
PENSKE TRUCK LEASING/PTL
5/1/2028
5.5
6,059
0.7
Fannie Mae
7/1/2052
4.0
5,968
0.7
Fannie Mae
4/1/2052
2.5
5,711
0.7
Fannie Mae
3/1/2048
3.5
5,640
0.7
Freddie Mac
8/1/2047
4.0
5,551
0.7
Freddie Mac
9/1/2049
3.0
5,425
0.6
VIRGINIA POWER FUEL SEC
5/1/2033
4.9
5,379
0.6
Freddie Mac
4/1/2050
3.5
5,044
0.6
Fannie Mae
8/1/2052
5.0
4,887
0.6
Government National Mortgage A
9/20/2051
2.5
4,819
0.6
BNP PARIBAS
8/14/2028
4.4
4,618
0.6
BANK OF AMERICA CORP
10/20/2032
2.6
4,616
0.6
Fannie Mae
8/1/2045
1.0
4,505
0.5
GOLDMAN SACHS GROUP INC
3/15/2030
3.8
4,501
0.5
Fannie Mae
6/1/2051
3.0
4,488
0.5
Fannie Mae
7/1/2052
5.0
4,314
0.5
BENCHMARK Mortgage Trust
11/15/2056
6.8
4,266
0.5
TRUIST FINANCIAL CORP
1/24/2035
5.7
4,136
0.5
CHARTER COMM OPT LLC/CAP
10/23/2035
6.4
4,123
0.5
FERGUSON FINANCE PLC
6/2/2030
3.3
4,109
0.5
Small Business Administration
3/10/2034
5.0
4,093
0.5
Fannie Mae
3/1/2052
2.5
4,092
0.5
US TREASURY N/B
11/15/2026
4.6
4,068
0.5
Fannie Mae
10/1/2053
5.5
4,011
0.5
Small Business Administration
2/1/2049
5.1
3,995
0.5
BANK OF AMERICA CORP
7/22/2028
4.9
3,911
0.5
Freddie Mac
4/1/2047
3.0
3,906
0.5
Fannie Mae
9/1/2052
5.0
3,864
0.5
General Motors
3/17/2031
5.1
3,732
0.4
GA GLOBAL FUNDING TRUST
1/8/2029
5.5
3,702
0.4
AIA GROUP LTD
4/5/2034
5.4
3,690
0.4
RYDER SYSTEM INC
6/1/2028
5.3
3,634
0.4
COLUMBIA PIPELINES OPCO
11/15/2033
6.0
3,597
0.4
Barclays Commercial Mortgage S
3/15/2057
5.9
3,595
0.4
Fannie Mae
7/1/2048
4.5
3,502
0.4
MET LIFE GLOB FUNDING I
1/8/2029
4.8
3,472
0.4
EVERSOURCE ENERGY
3/1/2028
5.5
3,469
0.4
Fannie Mae
9/1/2053
5.5
3,460
0.4
ASHTEAD CAPITAL INC
4/15/2034
5.8
3,436
0.4
SCHLUMBERGER HLDGS CORP
5/17/2028
3.9
3,426
0.4
BROADCOM INC
4/15/2029
4.0
3,406
0.4
KKR GRP FIN CO VI LLC
7/1/2029
3.8
3,399
0.4
BX Trust
3/15/2041
1.0
3,234
0.4
Freddie Mac
10/1/2047
4.0
3,217
0.4
FIVE 2023-V1
2/10/2056
5.7
3,210
0.4
NextGear Floorplan Master Owne
3/15/2029
5.1
3,148
0.4
T-MOBILE USA INC
7/15/2033
5.0
3,099
0.4
ROGERS COMMUNICATIONS IN
3/15/2027
3.2
3,096
0.4
Small Business Administration
3/1/2049
5.0
3,080
0.4
HEALTHPEAK OP LLC
2/1/2027
1.4
3,079
0.4
Tricon Residential
12/17/2040
5.0
3,076
0.4
Fannie Mae
2/1/2034
3.0
3,067
0.4
LLOYDS BANKING GROUP PLC
2/5/2026
2.4
3,039
0.4
Small Business Administration
12/1/2048
5.3
3,020
0.4
NORTHERN STATES PWR-MINN
6/1/2036
6.3
3,010
0.4
Fannie Mae
9/1/2036
2.5
3,004
0.4
Morgan Stanley Capital I Trust
3/15/2049
3.6
3,002
0.4
Fannie Mae
2/1/2052
2.5
2,896
0.3
Fannie Mae
4/1/2052
2.5
2,859
0.3
TSY INFL IX N/B
1/15/2030
0.1
2,857
0.3
MACQUARIE GROUP LTD
1/15/2030
5.0
2,855
0.3
Fannie Mae
1/1/2032
2.5
2,847
0.3
GENERAL MOTORS FINL CO
2/8/2031
5.8
2,781
0.3
CONSUMERS 23 SECURE FUND
9/1/2031
5.2
2,770
0.3
Freddie Mac
4/1/2036
2.5
2,767
0.3
VERIZON COMMUNICATIONS
3/15/2032
2.4
2,746
0.3
VOLKSWAGEN GROUP AMERICA
6/8/2029
4.6
2,729
0.3
CAPITAL ONE FINANCIAL CO
2/1/2035
6.1
2,696
0.3
APTIV PLC / APTIV CORP
3/1/2032
3.3
2,679
0.3
MET LIFE GLOB FUNDING I
3/21/2029
3.3
2,613
0.3
Small Business Administration
8/1/2048
5.2
2,602
0.3
PNC FINANCIAL SERVICES
12/2/2028
5.4
2,583
0.3
Fannie Mae
11/1/2050
2.5
2,580
0.3
Avis Budget Rental Car Funding
12/20/2030
5.2
2,505
0.3
Small Business Administration
7/1/2048
5.2
2,460
0.3
ING GROEP NV
3/19/2030
1.0
2,455
0.3
COREBRIDGE GLOB FUNDING
1/12/2029
5.2
2,454
0.3
BERKSHIRE HATHAWAY ENERG
1/15/2049
4.5
2,442
0.3
BARCLAYS PLC
9/13/2029
6.5
2,428
0.3
Morgan Stanley BAML Trust
5/15/2049
3.1
2,419
0.3
MITSUBISHI UFJ FIN GRP
7/20/2028
5.0
2,417
0.3
Morgan Stanley Capital I Trust
8/15/2049
2.8
2,392
0.3
Fannie Mae
2/1/2052
2.0
2,391
0.3
Fannie Mae
10/1/2052
4.5
2,381
0.3
TEXAS NATURAL GAS SECURITIZTN
4/1/2035
5.1
2,354
0.3
Small Business Administration
9/10/2033
5.7
2,348
0.3
Fannie Mae
6/1/2050
5.0
2,334
0.3
Taco Bell Funding, LLC
8/25/2051
1.9
2,314
0.3
Fannie Mae
1/1/2052
1.0
2,307
0.3
AVIATION CAPITAL GROUP
7/15/2030
6.4
2,303
0.3
DTE ENERGY CO
6/1/2028
4.9
2,281
0.3
Freddie Mac
8/1/2050
3.0
2,249
0.3
Morgan Stanley BAML Trust
4/15/2048
3.3
2,243
0.3
VOLKSWAGEN GROUP AMERICA
6/8/2027
4.3
2,231
0.3
CITIGROUP INC
10/27/2028
3.5
2,225
0.3
GM Financial Automobile Leasin
3/22/2027
5.1
2,200
0.3
Freddie Mac
5/1/2053
5.5
2,184
0.3
COMM Mortgage Trust
2/10/2049
3.8
2,179
0.3
Dominos Pizza Master Issuer LL
4/25/2051
2.7
2,165
0.3
TORONTO DOMINION BANK
1/12/2027
1.9
2,164
0.3
Fannie Mae
11/1/2047
3.5
2,153
0.3
DB Master Finance LLC
11/20/2051
2.0
2,123
0.3
PFS Financing Corp.
2/15/2029
5.0
2,123
0.3
AMERICAN EXPRESS CO
2/16/2028
1.0
2,117
0.3
General Motors
6/15/2030
5.3
2,113
0.3
Fannie Mae
1/1/2048
3.5
2,079
0.2
Fannie Mae
8/1/2052
4.5
2,058
0.2
GoldenTree Loan Management US
4/20/2034
6.6
2,046
0.2
AMAZON.COM INC
4/13/2062
4.1
2,044
0.2
ORACLE CORP
3/25/2051
4.0
2,044
0.2
Kubota Credit Owner Trust
7/17/2028
5.1
2,001
0.2
Aimco
4/20/2034
1.0
1,929
0.2
FORD MOTOR CREDIT CO LLC
2/10/2029
2.9
1,882
0.2
Fannie Mae
9/1/2050
2.5
1,874
0.2
NXP BV/NXP FDG/NXP USA
6/18/2029
4.3
1,827
0.2
JPMBB Commercial Mortgage Secu
10/15/2048
3.2
1,826
0.2
NORTHERN NATURAL GAS CO
2/1/2054
5.6
1,822
0.2
COX COMMUNICATIONS INC
6/15/2033
5.7
1,817
0.2
Wells Fargo Commercial Mortgag
8/15/2054
2.3
1,808
0.2
DB Master Finance LLC
11/20/2047
4.0
1,795
0.2
Freddie Mac
11/1/2051
2.5
1,793
0.2
CIFC Funding Ltd
4/19/2029
6.4
1,756
0.2
Freddie Mac
11/1/2053
5.0
1,714
0.2
WARNERMEDIA HOLDINGS INC
3/15/2052
5.1
1,690
0.2
Bank5
9/15/2056
6.7
1,682
0.2
AERCAP IRELAND CAP/GLOBA
1/19/2029
5.1
1,653
0.2
CIFC Funding Ltd
4/17/2035
6.6
1,633
0.2
Citigroup Commercial Mortgage
8/10/2049
2.6
1,585
0.2
Enterprise Fleet Financing LLC
3/20/2030
6.5
1,573
0.2
Freddie Mac
12/1/2053
5.5
1,567
0.2
Fannie Mae
12/1/2051
3.0
1,562
0.2
US BANCORP
1/23/2035
5.7
1,560
0.2
MORGAN STANLEY
1/21/2033
2.9
1,539
0.2
JPMORGAN CHASE & CO
1/23/2035
5.3
1,537
0.2
US BANCORP
2/1/2034
4.8
1,534
0.2
NORTHROP GRUMMAN CORP
5/1/2050
5.3
1,530
0.2
Avis Budget Rental Car Funding
6/20/2030
5.4
1,524
0.2
Small Business Administration
3/10/2033
5.2
1,515
0.2
BENCHMARK Mortgage Trust
1/10/2057
5.8
1,507
0.2
FORD MOTOR CREDIT CO LLC
2/16/2028
2.9
1,475
0.2
ALEXANDRIA REAL ESTATE E
5/18/2032
2.0
1,447
0.2
BROOKFIELD FINANCE INC
1/25/2028
3.9
1,435
0.2
COX COMMUNICATIONS INC
9/15/2026
3.4
1,431
0.2
DUKE ENERGY FLORIDA LLC
7/15/2028
3.8
1,430
0.2
Fannie Mae
8/1/2052
5.0
1,429
0.2
AMSR Trust
7/17/2037
1.6
1,422
0.2
CITIGROUP INC
3/31/2031
4.4
1,420
0.2
PEACHTREE FUNDING TRUST
2/15/2025
4.0
1,418
0.2
HEALTHPEAK OP LLC
7/15/2026
3.3
1,412
0.2
FLORIDA POWER & LIGHT CO
2/3/2032
2.5
1,407
0.2
BX Trust
9/15/2036
6.1
1,393
0.2
BX Trust
10/13/2027
5.8
1,311
0.2
Citizens Auto Receivables Trus
4/17/2028
0.0
1,285
0.2
Small Business Administration
1/1/2049
5.0
1,285
0.2
SFS Auto Receivables Securitiz
5/21/2029
4.9
1,276
0.2
SIMON PROPERTY GROUP LP
3/8/2033
5.5
1,268
0.2
Small Business Administration
11/1/2048
5.7
1,241
0.1
PRUDENTIAL FUNDING ASIA
3/24/2032
3.6
1,238
0.1
Verizon Master Trust
12/20/2028
5.0
1,231
0.1
CONSTELLATION SOFTWARE
2/16/2034
5.5
1,231
0.1
Freddie Mac
9/1/2053
5.5
1,227
0.1
GM Financial Securitized Term
12/18/2028
5.3
1,202
0.1
Fannie Mae
10/1/2050
2.0
1,170
0.1
NXP BV/NXP FDG/NXP USA
5/1/2027
3.1
1,164
0.1
BLACKSTONE HOLDINGS FINA
4/22/2033
6.2
1,157
0.1
ENERGY TRANSFER LP
2/15/2033
5.8
1,157
0.1
EXELON CORP
4/15/2046
4.5
1,154
0.1
AIR LEASE CORP
8/15/2026
1.9
1,153
0.1
LLOYDS BANKING GROUP PLC
1/5/2035
5.7
1,152
0.1
VERISK ANALYTICS INC
4/1/2033
5.8
1,144
0.1
DOMINION ENERGY INC
8/1/2033
5.3
1,137
0.1
CANADIAN PACIFIC RAILWAY
11/15/2069
4.2
1,130
0.1
PNC FINANCIAL SERVICES
1/24/2034
5.1
1,124
0.1
Apidos CLO Ltd
4/26/2037
0.0
1,117
0.1
ROGERS COMMUNICATIONS IN
3/15/2032
3.8
1,116
0.1
Palmer Square CLO Ltd
4/15/2037
1.0
1,102
0.1
Small Business Administration
11/1/2047
5.1
1,097
0.1
NextGear Floorplan Master Owne
3/15/2028
5.7
1,096
0.1
Fannie Mae
2/1/2050
3.0
1,077
0.1
Small Business Administration
1/1/2048
4.9
1,064
0.1
T-MOBILE USA INC
4/15/2034
5.2
1,035
0.1
Fannie Mae
8/1/2052
5.0
1,030
0.1
GENERAL MOTORS FINL CO
10/15/2028
2.4
1,024
0.1
Progress Residential Trust
4/17/2027
3.0
1,023
0.1
EVERSOURCE ENERGY
3/1/2027
2.9
1,016
0.1
Ford Credit Auto Owner Trust/F
2/15/2036
5.3
1,013
0.1
Fannie Mae
2/1/2047
3.5
1,010
0.1
BROADCOM INC
9/15/2028
4.1
1,007
0.1
Freddie Mac - SCRT
3/25/2058
3.5
1,007
0.1
Fannie Mae
8/1/2048
4.5
988
0.1
GENERAL MOTORS FINL CO
4/6/2029
4.3
929
0.1
CVS PASS THRU TR 2009
7/10/2031
8.4
910
0.1
Fannie Mae
1/1/2049
4.0
885
0.1
Fannie Mae
5/1/2037
3.5
884
0.1
AIR LEASE CORP
3/1/2025
3.3
856
0.1
GoldenTree Loan Management US
7/20/2036
7.0
828
0.1
Freddie Mac
5/1/2042
3.5
825
0.1
AERCAP IRELAND CAP/GLOBA
10/29/2028
3.0
820
0.1
WENDYS FUNDING LLC
6/15/2051
2.8
820
0.1
Fannie Mae
2/1/2050
4.5
819
0.1
CIGNA GROUP/THE
3/1/2027
3.4
818
0.1
CAPITAL ONE FINANCIAL CO
2/1/2029
5.5
811
0.1
MASS MUTUAL LIFE INS CO
4/15/2050
3.4
799
0.1
VERISK ANALYTICS INC
5/15/2050
3.6
785
0.1
UNITED AIR 2014-1 A PTT
10/11/2027
4.0
760
0.1
PNC FINANCIAL SERVICES
1/22/2035
5.7
752
0.1
AMSR Trust
10/17/2039
4.0
752
0.1
Fannie Mae
10/1/2050
2.5
748
0.1
BENCHMARK Mortgage Trust
5/15/2055
5.8
716
0.1
DOMINION ENERGY INC
4/1/2030
3.4
714
0.1
ENERGY TRANSFER LP
7/15/2026
3.9
708
0.1
LOWE'S COS INC
4/15/2053
5.6
705
0.1
Fannie Mae
8/1/2050
2.0
692
0.1
Fannie Mae
4/1/2051
2.5
680
0.1
Bank
7/15/2060
3.5
671
0.1
Government National Mortgage A
1/20/2051
2.5
666
0.1
Small Business Administration
3/1/2048
4.9
665
0.1
Freddie Mac
5/1/2052
2.5
660
0.1
GoldenTree Loan Management US
7/20/2034
6.8
650
0.1
MORGAN STANLEY
7/27/2026
3.1
636
0.1
Fannie Mae
6/1/2050
2.5
626
0.1
BLACKSTONE HOLDINGS FINA
9/10/2049
3.5
617
0.1
BMW US CAPITAL LLC
4/1/2027
3.5
610
0.1
Freddie Mac
8/1/2050
3.0
608
0.1
Fannie Mae
10/1/2047
3.5
608
0.1
BMO Mortgage Trust
12/15/2056
6.2
594
0.1
Fannie Mae
11/1/2051
2.5
581
0.1
Morgan Stanley BAML Trust
10/15/2048
3.5
581
0.1
NXP BV/NXP FDG/NXP USA
5/1/2025
2.7
578
0.1
SBA TOWER TRUST
10/15/2056
2.6
570
0.1
GA GLOBAL FUNDING TRUST
9/15/2028
1.9
568
0.1
Fannie Mae
3/1/2038
4.0
565
0.1
PEACEHEALTH OBLIGATED GR
11/15/2025
1.4
549
0.1
Fannie Mae
2/1/2035
3.0
549
0.1
Taco Bell Funding, LLC
8/25/2051
2.3
535
0.1
PFS Financing Corp.
3/15/2028
0.0
528
0.1
Small Business Administration
9/1/2048
5.4
522
0.1
Fannie Mae
11/1/2052
5.5
522
0.1
AMERICAN TOWER TRUST I
3/15/2028
5.5
519
0.1
Fannie Mae
11/1/2046
4.0
519
0.1
LIBERTY MUTUAL GROUP INC
2/1/2029
4.6
517
0.1
Freddie Mac
7/1/2053
5.5
515
0.1
GS Mortgage Securities Trust
10/10/2049
2.9
515
0.1
NEW YORK ST URBAN DEV CORP REV
3/15/2039
5.8
507
0.1
AT&T INC
6/12/2024
4.0
505
0.1
Fannie Mae
4/1/2035
2.5
501
0.1
SALES TAX SECURITIZATION CORP
1/1/2040
4.6
499
0.1
Freddie Mac
5/1/2053
5.0
498
0.1
CIFC Funding Ltd
1/20/2037
0.0
498
0.1
UBS Commercial Mortgage Trust
10/15/2051
4.2
496
0.1
FEDERAL REALTY OP LP
2/15/2026
1.3
493
0.1
Fannie Mae
7/1/2052
5.0
488
0.1
UBS GROUP AG
4/15/2026
4.1
487
0.1
Fannie Mae
6/1/2050
3.5
487
0.1
Fannie Mae
6/1/2051
2.5
483
0.1
PG&E WILDFIRE RECOVERY
6/1/2032
3.6
482
0.1
Fannie Mae
8/1/2053
5.0
474
0.1
MACQUARIE GROUP LTD
1/12/2027
1.3
457
0.1
CREDIT SUISSE NEW YORK
1/9/2025
8.0
456
0.1
SBA TOWER TRUST
5/15/2051
1.6
453
0.1
Home Partners of America Trust
4/17/2039
3.9
448
0.1
Fannie Mae
11/1/2052
5.5
443
0.1
Freddie Mac
7/1/2035
3.0
437
0.1
CAPITAL ONE FINANCIAL CO
5/10/2028
4.9
430
0.1
Freddie Mac
12/1/2037
4.0
424
0.1
NATIONAL SECS CLEARING
5/30/2028
5.0
421
0.1
WENDYS FUNDING LLC
6/15/2049
3.8
419
0.1
ELEVANCE HEALTH INC
2/15/2033
4.8
415
0.0
NEW YORK CITY NY TRANSITIONAL
8/1/2032
4.0
414
0.0
GA GLOBAL FUNDING TRUST
4/11/2025
3.9
412
0.0
BLACKSTONE HOLDINGS FINA
3/30/2032
2.5
411
0.0
Government National Mortgage A
6/20/2045
4.5
410
0.0
Fannie Mae
3/1/2046
4.0
404
0.0
Palmer Square CLO Ltd
10/17/2031
0.0
402
0.0
AIA GROUP LTD
4/9/2029
3.6
395
0.0
Fannie Mae
7/1/2050
3.0
374
0.0
Wells Fargo Commercial Mortgag
11/15/2048
3.7
368
0.0
Bank of America Credit Card Tr
4/15/2028
5.0
365
0.0
COMM Mortgage Trust
10/10/2049
2.8
365
0.0
MERCEDES-BENZ AUTO RECEIVABLES
2/15/2029
5.3
363
0.0
Palmer Square CLO Ltd
11/15/2036
1.0
362
0.0
Small Business Administration
5/1/2047
3.9
361
0.0
Small Business Administration
12/1/2047
4.7
356
0.0
CALIFORNIA ST
4/1/2034
7.5
353
0.0
Aligned Data Centers Issuer LL
8/15/2046
1.9
350
0.0
BENCHMARK Mortgage Trust
6/15/2054
2.4
342
0.0
COMCAST CORP
1/15/2027
2.4
337
0.0
Firstkey Homes Trust
8/17/2038
1.5
333
0.0
Fannie Mae
12/1/2040
3.0
332
0.0
Fannie Mae
2/1/2052
2.5
332
0.0
BAE SYSTEMS PLC
4/15/2030
3.4
329
0.0
Freddie Mac
1/1/2050
3.0
326
0.0
Firstkey Homes Trust
10/19/2037
1.3
325
0.0
Fannie Mae
11/1/2050
2.0
322
0.0
COX COMMUNICATIONS INC
10/1/2030
1.8
321
0.0
AMERICAN EXPRESS CO
5/1/2034
5.0
318
0.0
ORACLE CORP
3/25/2026
1.6
318
0.0
Fannie Mae
7/1/2050
5.0
312
0.0
Fannie Mae
3/1/2035
2.5
309
0.0
EQUITABLE FINANCIAL LIFE
7/7/2025
1.4
308
0.0
BANK OF NY MELLON CORP
10/25/2028
5.8
308
0.0
CIFC Funding Ltd
7/18/2031
6.4
307
0.0
Tricon American Homes
7/17/2038
1.5
307
0.0
Freddie Mac
12/1/2046
3.0
298
0.0
Palmer Square Loan Funding Ltd
10/15/2030
0.0
294
0.0
BERKSHIRE HATHAWAY ENERG
4/1/2036
6.1
293
0.0
DELTA AIR LINES 2015-1AA
1/30/2029
3.6
292
0.0
Discover Card Execution Note T
10/15/2027
4.6
291
0.0
Freddie Mac
10/1/2052
5.0
288
0.0
BX Trust
12/9/2040
1.0
286
0.0
PG&E WILDFIRE RECOVERY
6/1/2033
4.0
284
0.0
GM Financial Securitized Term
12/16/2027
3.7
280
0.0
Small Business Administration
2/1/2048
4.6
278
0.0
Fannie Mae
8/1/2050
3.0
276
0.0
SOUTHERN CO
7/1/2036
4.3
275
0.0
Fannie Mae
7/1/2035
3.0
273
0.0
Fannie Mae
9/1/2049
1.0
271
0.0
Freddie Mac
1/1/2033
3.0
260
0.0
ALEXANDRIA REAL ESTATE E
7/1/2030
4.7
258
0.0
Morgan Stanley BAML Trust
10/15/2048
3.4
253
0.0
OCCIDENTAL PETROLEUM COR
10/10/2036
0.0
252
0.0
ROGERS COMMUNICATIONS IN
10/1/2043
5.5
249
0.0
Palmer Square Loan Funding Ltd
5/20/2029
6.4
244
0.0
Ford Credit Auto Owner Trust/F
8/15/2031
2.0
243
0.0
Small Business Administration
7/1/2038
3.5
242
0.0
JPMORGAN CHASE & CO
3/24/2031
4.5
242
0.0
SBA TOWER TRUST
1/15/2028
6.6
236
0.0
AQUARION CO
8/15/2024
4.0
236
0.0
Fannie Mae
3/1/2051
2.0
229
0.0
PFS Financing Corp.
8/15/2027
4.3
229
0.0
Freddie Mac
3/1/2051
2.5
227
0.0
AIR CANADA 2015-1A PTT
9/15/2028
3.6
227
0.0
HSBC HOLDINGS PLC
11/3/2028
7.4
226
0.0
EXELON CORP
6/15/2045
5.1
225
0.0
Fannie Mae
3/1/2051
2.0
225
0.0
Vantage Data Centers LLC
9/15/2045
2.0
221
0.0
AT&T INC
6/1/2027
2.3
221
0.0
SOUTHERN CO
7/1/2026
3.3
221
0.0
LOCKHEED MARTIN CORP
5/15/2046
4.7
220
0.0
Fannie Mae
1/1/2048
4.0
219
0.0
Fannie Mae
11/1/2051
2.5
215
0.0
MOODY'S CORPORATION
5/20/2050
3.3
215
0.0
Freddie Mac - SCRT
3/25/2061
2.0
215
0.0
Freddie Mac
12/1/2052
5.5
212
0.0
Fannie Mae
9/1/2050
4.5
212
0.0
COMM Mortgage Trust
12/10/2047
3.5
211
0.0
Navient Student Loan Trust
7/15/2069
0.9
210
0.0
Home Partners of America Trust
1/17/2041
1.5
209
0.0
Government National Mortgage A
8/20/2047
4.5
209
0.0
XCEL ENERGY INC
6/1/2030
3.4
206
0.0
CANADIAN PACIFIC RAILWAY
9/15/2115
6.1
202
0.0
EVERSOURCE ENERGY
10/1/2024
2.9
197
0.0
Sabey Data Center Issuer LLC
4/20/2045
3.8
196
0.0
Fannie Mae
10/1/2047
4.5
193
0.0
Freddie Mac - SCRT
9/25/2060
2.0
192
0.0
LOWE'S COS INC
4/15/2040
5.0
192
0.0
Freddie Mac
2/1/2046
4.0
190
0.0
STORE Master Funding LLC
10/20/2048
4.3
188
0.0
SOUTHERN CO GAS CAPITAL
1/15/2031
1.8
187
0.0
Fannie Mae
4/1/2049
4.0
185
0.0
PG&E WILDFIRE RECOVERY
6/1/2037
4.7
179
0.0
UNITED AIR 2016-1 AA PTT
1/7/2030
3.1
179
0.0
PNC FINANCIAL SERVICES
10/20/2034
6.9
179
0.0
Fannie Mae
5/1/2046
4.5
178
0.0
Fannie Mae
7/1/2047
4.5
176
0.0
Freddie Mac
6/1/2050
2.0
174
0.0
Freddie Mac
11/1/2043
3.0
173
0.0
WENDYS FUNDING LLC
6/15/2051
2.4
173
0.0
CITIGROUP INC
5/1/2026
3.4
165
0.0
BERKSHIRE HATHAWAY FIN
3/15/2052
3.9
160
0.0
MASS MUTUAL LIFE INS CO
12/1/2052
5.7
160
0.0
Small Business Administration
11/1/2034
2.8
159
0.0
CVS PASS-THROUGH TRUST
1/10/2033
5.8
159
0.0
KKR GROUP FINANCE CO III
6/1/2044
5.1
157
0.0
VERIZON COMMUNICATIONS
8/10/2033
4.5
155
0.0
CHICAGO IL MET WTR RECLAMATION
12/1/2038
5.7
154
0.0
Small Business Administration
2/1/2038
3.2
154
0.0
Freddie Mac - SCRT
8/25/2058
3.5
151
0.0
Freddie Mac
12/1/2046
3.0
150
0.0
Store Master Funding I - VII,
11/20/2049
2.8
150
0.0
Small Business Administration
8/1/2035
2.8
149
0.0
NORFOLK SOUTHERN CORP
10/1/2041
4.8
146
0.0
Fannie Mae
6/1/2050
2.5
145
0.0
NORTHERN STATES PWR-MINN
6/1/2052
4.5
139
0.0
Freddie Mac - SCRT
5/25/2060
2.0
138
0.0
Fannie Mae
8/1/2050
2.5
135
0.0
Fannie Mae
2/1/2047
4.5
135
0.0
Small Business Administration
10/1/2037
2.9
132
0.0
Freddie Mac - SCRT
8/25/2059
2.5
131
0.0
Fannie Mae
4/1/2045
4.0
129
0.0
Fannie Mae
12/1/2036
1.0
128
0.0
Government National Mortgage A
9/20/2041
4.0
128
0.0
Freddie Mac
6/1/2047
2.2
126
0.0
Freddie Mac
3/1/2049
4.5
120
0.0
Government National Mortgage A
9/15/2046
4.0
118
0.0
Freddie Mac - SCRT
11/25/2059
2.0
116
0.0
ALEXANDRIA REAL ESTATE E
4/15/2035
4.8
109
0.0
BLACKSTONE HOLDINGS FINA
9/30/2050
2.8
107
0.0
BANK OF AMERICA CORP
4/22/2042
3.3
102
0.0
Freddie Mac - SCRT
5/25/2057
3.0
95
0.0
Government National Mortgage A
8/15/2045
4.0
94
0.0
Navient Student Loan Trust
5/15/2069
0.8
94
0.0
Small Business Administration
8/1/2037
2.8
86
0.0
GS Mortgage-Backed Securities
1/25/2051
3.0
85
0.0
Freddie Mac
10/1/2046
3.0
84
0.0
Fannie Mae
6/1/2050
2.5
82
0.0
Government National Mortgage A
2/20/2046
4.5
74
0.0
CVS PASS-THROUGH TRUST
1/10/2028
5.9
68
0.0
MICHIGAN ST UNIV REVENUES
8/15/2122
4.2
65
0.0
LOWE'S COS INC
4/15/2046
3.7
59
0.0
Government National Mortgage A
1/15/2042
4.5
58
0.0
EXELON CORP
4/15/2050
4.7
54
0.0
KKR GROUP FIN CO II
2/1/2043
5.5
52
0.0
Small Business Administration
3/1/2032
2.5
51
0.0
Freddie Mac - SCRT
8/25/2056
3.0
48
0.0
PSMC Trust
5/25/2050
3.0
43
0.0
COMM Mortgage Trust
6/10/2047
3.5
23
0.0
LINCOLN NATIONAL CORP
1/15/2031
3.4
19
0.0
Total
--
--
811,235
94.9
Cash and Other Assets Less Liabilities
--
--
--
5.1
Total Net Assets
--
--
--
100%
Sector Allocation
As of 3/31/2024
Core Bond Fund (HACBX)
Bloomberg US Aggregate Bond Index
-
Securitized
HACBX: 35.5%
Benchmark: 28.0%
-
Government
HACBX: 33.1%
Benchmark: 43.0%
-
Credit
HACBX: 26.9%
Benchmark: 28.4%
-
Municipal
HACBX: 0.2%
Benchmark: 0.6%
HACBX: Core Bond Fund
Benchmark: Bloomberg US Aggregate Bond Index
Maturity Profile
As of 3/31/2024
Maturity
Core Bond Fund %
Bloomberg US Aggregate Bond Index %
0-1 yr
6.2
0.1
1-3 yr
14.9
22.4
3-5 yr
20.2
19.7
5-7 yr
11.2
13.8
7-10 yr
27.3
25.6
10-20 yr
12.4
7.6
20-30 yr
7.4
9.9
Over 30 yr
0.4
0.9
Duration
As of 3/31/2024
Duration
Core Bond Fund %
Bloomberg US Aggregate Bond Index %
0-1 yr
8.3
0.6
1-3 yr
16.0
24.8
3-5 yr
26.7
22.6
5-7 yr
19.1
19.4
7-10 yr
13.1
16.5
10-20 yr
16.8
16.1
20-30 yr
0.0
0.0
Over 30 yr
0.0
--
Investment Team
Income Research + Management is a privately-owned, independent, fixed income investment management firm that serves institutional and private clients. They believe that an open, collaborative culture promotes excellence from an investment team of high energy, curious individuals. IR+M’s investment philosophy and process are based on their belief that careful security selection and active risk management provide strong results over the long-term. By combining the capacity and technology of a larger firm with the culture and nimbleness of a boutique firm, the firm strives to provide exceptional service for their clients and a rewarding experience for their employees.
Documents
Name
Date
From time to time, certain fees and/or expenses have been voluntarily or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.
As a result of changing market conditions, total net asset levels, expenses and other factors may change at any time during the current fiscal period and may differ from those shown.
There is no guarantee that the investment objective of the Fund will be achieved. Fixed income investments are affected by interest rate changes and the creditworthiness of the issues held by the Fund. As interest rates rise, the values of fixed income securities held by the Fund are likely to decrease and reduce the value of the Fund's portfolio. There may be a greater risk that the Fund could lose money due to prepayment and extension risks because the Fund invests heavily at times in mortgage-related and/or asset backed securities.
Wtd. Avg. Market Coupon (%): the weighted average coupon rate of the underlying bonds in the Fund.
Wtd. Avg. Maturity (yrs): the weighted average length of time to the repayment of principal for the securities in the Fund. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date.
Wtd. Avg. Duration (yrs): the weight average duration of the underlying bonds or derivative market exposures in the Fund. Duration is a time measure of a bond's interest-rate sensitivity. The longer a fund's duration, the more sensitive the fund is to shifts in interest rates
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