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 (06/30/2014)

Name Value
A 7.95%
AA 3.72%
AAA 27.35%
Government 60.32%
Not Rated 0.66%

Effective Duration Breakdown
as of (06/30/2014)

Name Value
0-1 Year 25.8%
1-2 Years 1.4%
2-3 Years 20.2%
3-5 Years 35.5%
5-10 Years 2.1%
10+ Years 15.0%
Average Life 4.70 Years
Effective Duration 3.64 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.