Portfolio Composition
as of (03/31/2014)

Name Value
AGENCY 37.81%
U.S. TREASURIES 23.33%
MORTGAGE PASS-THRU 17.95%
CORPORATE BONDS 8.63%
COLLATERALIZED MORTGAGE OBLIGATIONS 8.00%
MUNICIPAL BONDS 2.08%
Cash & Equivalents 2.20%

Moody's Quality Bond Rating¹
as of (03/31/2014)

Name Value
A 7.65%
Aa 0.00%
Aaa 87.89%
Baa 4.46%

Effective Duration Breakdown
as of (03/31/2014)

Name Value
0-1 Year 25.41%
1-3 Years 28.16%
3-4 Years 16.03%
4-6 Years 18.93%
6-8 Years 2.11%
8+ Years 9.36%
Average Life 4.27 Years
Effective Duration 3.24 Years

Top 10 Holdings
as of (03/31/2014)

Name Value Coupon Maturity Date
U.S. Treasury Notes 12.80% 0.63% 07/15/2014
FFCB 8.60% 4.67% 02/27/2018
FHLMC, Pool #G14007 7.74% 3.50% 12/01/2025
FNMA 6.72% 6.25% 05/15/2029
FNMA 6.61% 7.13% 01/15/2030
U.S. Treasury Notes 5.11% 0.25% 04/30/2014
FNMA, Pool #FN0000 5.09% 3.58% 09/01/2020
FHLB 5.06% 1.25% 01/17/2023
FHLMC 4.18% 3.75% 03/27/2019
FNMA, Series 2010-129, Class NA 3.66% 3.50% 03/25/2025

Current and future portfolio holdings are subject to change and risk.

¹ Credit quality ratings using Moody's rating symbols reflect the credit quality of the underlying bonds in the fund portfolio and not of the Fund itself. Moody's assigns a range of ratings from Aaa being the highest quality to C being the lowest rated class of bonds. Securities not rated by Moody's may be rated by S&P, Fitch or if no agency rating is available, the Fund will assign a rating of not rated. Bond quality ratings are subject to change.