Portfolio Composition
as of (06/30/2014)

Name Value
AGENCY 39.56%
U.S. TREASURIES 20.20%
MORTGAGE PASS-THRU 19.86%
CORPORATE BONDS 9.58%
COLLATERALIZED MORTGAGE OBLIGATIONS 8.29%
MUNICIPAL BONDS 2.33%
Cash & Equivalents 0.18%

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 (06/30/2014)

Name Value Coupon Maturity Date
FFCB 9.58% 07/17/2014
U.S. Treasury Notes 8.52% 07/17/2014
FHLMC, Pool #G14007 8.41% 07/17/2014
FNMA 7.63% 07/17/2014
FNMA 7.55% 07/17/2014
FNMA, Pool #FN0000 5.71% 07/17/2014
U.S. Treasury Notes 5.68% 07/17/2014
FHLB 5.67% 07/17/2014
FNMA, Series 2010-129, Class Na 3.79% 07/17/2014
FNMA, Pool #724965 3.17% 07/17/2014

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.