SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK — 96.0% | ||||||||
Bosnia and Herzegovina — 0.0% | ||||||||
RenaissanceRe Holdings Ltd. | 248 | $ | 37 | |||||
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Canada — 0.1% | ||||||||
Lululemon Athletica Inc * | 1,014 | 192 | ||||||
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Cayman Islands — 0.0% | ||||||||
Herbalife * | 1,088 | 31 | ||||||
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Ireland — 1.0% | ||||||||
Accenture PLC, Cl A | 11,297 | 1,844 | ||||||
Jazz Pharmaceuticals PLC * | 616 | 62 | ||||||
Mallinckrodt * | 13,812 | 27 | ||||||
Medtronic PLC | 19,976 | 1,801 | ||||||
NortonLifeLock | 13,065 | 245 | ||||||
Perrigo Co PLC | 211 | 10 | ||||||
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3,989 | ||||||||
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Puerto Rico — 0.0% | ||||||||
Popular Inc | 1,507 | 53 | ||||||
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Switzerland — 0.0% | ||||||||
Garmin Ltd | 1,092 | 82 | ||||||
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United Kingdom — 0.2% | ||||||||
Aon PLC | 2,921 | 482 | ||||||
Healthpeak Properties | 9,384 | 224 | ||||||
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706 | ||||||||
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United States — 94.7% | ||||||||
Communication Services — 8.3% | ||||||||
Activision Blizzard Inc | 8,114 | 483 | ||||||
Alphabet Inc, Cl A * | 4,440 | 5,159 | ||||||
Alphabet Inc, Cl C * | 4,446 | 5,170 | ||||||
AMC Entertainment Holdings, Cl A | 6,158 | 20 | ||||||
AT&T Inc | 127,327 | 3,712 | ||||||
Bandwidth, Cl A * | 821 | 55 | ||||||
Cardlytics * | 125 | 4 | ||||||
Cargurus, Cl A * | 1,369 | 26 | ||||||
Cars.com * | 4,178 | 18 | ||||||
CenturyLink Inc | 872 | 8 | ||||||
Charter Communications Inc, Cl A * | 1,859 | 811 | ||||||
Cinemark Holdings Inc | 2,104 | 21 | ||||||
Clear Channel Outdoor Holdings, Cl A * | 19,686 | 13 | ||||||
Cogent Communications Holdings | 807 | 66 | ||||||
Comcast Corp, Cl A | 62,118 | 2,136 | ||||||
comScore * | 10,205 | 29 | ||||||
DISH Network, Cl A * | 1,451 | 29 | ||||||
Electronic Arts Inc * | 2,676 | 268 | ||||||
Emerald Holding | 4,781 | 12 | ||||||
Eventbrite, Cl A * | 2,537 | 19 | ||||||
EverQuote, Cl A * | 1,468 | 39 | ||||||
EW Scripps, Cl A | 3,299 | 25 | ||||||
Facebook Inc, Cl A * | 34,781 | 5,801 | ||||||
Fox Corp, Cl A | 1,372 | 32 | ||||||
Gogo * | 9,226 | 20 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
IMAX * | 2,244 | $ | 20 | |||||
Intelsat * | 8,389 | 13 | ||||||
Interpublic Group of Cos Inc/The | 8,487 | 137 | ||||||
Iridium Communications * | 366 | 8 | ||||||
John Wiley & Sons Inc, Cl A | 236 | 9 | ||||||
Liberty Broadband, Cl A * | 113 | 12 | ||||||
Lions Gate Entertainment, Cl A * | 7,278 | 44 | ||||||
Live Nation Entertainment Inc * | 181 | 8 | ||||||
Match Group * | 703 | 46 | ||||||
Meredith | 1,401 | 17 | ||||||
MSG Networks * | 2,988 | 31 | ||||||
New York Times, Cl A | 1,515 | 47 | ||||||
Nexstar Media Group, Cl A | 455 | 26 | ||||||
Omnicom Group Inc | 10,137 | 557 | ||||||
Scholastic | 1,266 | 32 | ||||||
Shenandoah Telecommunications | 1,286 | 63 | ||||||
Sirius XM Holdings | 7,153 | 35 | ||||||
Spotify Technology SA * | 608 | 74 | ||||||
Sprint Corp * | 2,200 | 19 | ||||||
Take-Two Interactive Software Inc * | 830 | 98 | ||||||
TechTarget * | 1,986 | 41 | ||||||
TEGNA | 3,052 | 33 | ||||||
T-Mobile US Inc * | 2,824 | 237 | ||||||
Twitter Inc * | 7,369 | 181 | ||||||
Verizon Communications Inc | 62,462 | 3,356 | ||||||
ViacomCBS, Cl B | 1,000 | 14 | ||||||
Walt Disney Co/The | 26,709 | 2,580 | ||||||
World Wrestling Entertainment, Cl A | 780 | 27 | ||||||
Yelp, Cl A * | 1,470 | 27 | ||||||
Zillow Group Inc, Cl C * | 230 | 8 | ||||||
Zynga Inc, Cl A * | 14,448 | 99 | ||||||
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31,875 | ||||||||
|
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| ||||||
Consumer Discretionary — 10.1% | ||||||||
1-800-Flowers.com, Cl A * | 3,668 | 49 | ||||||
Aaron’s | 832 | 19 | ||||||
Abercrombie & Fitch, Cl A | 2,970 | 27 | ||||||
Adient * | 2,126 | 19 | ||||||
Adtalem Global Education * | 1,460 | 39 | ||||||
Advance Auto Parts Inc | 317 | 30 | ||||||
Amazon.com Inc * | 6,187 | 12,063 | ||||||
AMC Networks, Cl A * | 1,349 | 33 | ||||||
American Eagle Outfitters | 3,416 | 27 | ||||||
American Public Education * | 1,831 | 44 | ||||||
Aptiv PLC | 3,490 | 172 | ||||||
Aramark | 260 | 5 | ||||||
Asbury Automotive Group * | 425 | 23 | ||||||
AutoNation * | 970 | 27 | ||||||
AutoZone Inc * | 235 | 199 | ||||||
Beazer Homes USA * | 3,361 | 22 | ||||||
Bed Bath & Beyond | 2,963 | 13 | ||||||
Best Buy Co Inc | 19,239 | 1,097 |
New Covenant Funds/ Quarterly Report / March 31, 2020 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Big Lots | 1,758 | $ | 25 | |||||
BJ’s Restaurants | 1,344 | 19 | ||||||
Bloomin’ Brands | 2,259 | 16 | ||||||
Booking Holdings Inc * | 563 | 757 | ||||||
Boot Barn Holdings * | 1,181 | 15 | ||||||
BorgWarner Inc | 2,278 | 56 | ||||||
Bright Horizons Family Solutions Inc * | 76 | 8 | ||||||
Brinker International | 1,180 | 14 | ||||||
Brunswick | 839 | 30 | ||||||
Buckle | 1,885 | 26 | ||||||
Burlington Stores Inc * | 482 | 76 | ||||||
Cable One Inc | 79 | 130 | ||||||
Caleres | 2,200 | 11 | ||||||
Callaway Golf | 2,383 | 24 | ||||||
Capri Holdings * | 1,319 | 14 | ||||||
CarMax Inc * | 1,086 | 58 | ||||||
Carnival Corp | 15,800 | 208 | ||||||
Carter’s | 471 | 31 | ||||||
Carvana Co, Cl A * | 121 | 7 | ||||||
Cavco Industries * | 255 | 37 | ||||||
Cheesecake Factory | 1,236 | 21 | ||||||
Chegg * | 1,304 | 47 | ||||||
Chico’s FAS | 12,286 | 16 | ||||||
Children’s Place | 812 | 16 | ||||||
Chipotle Mexican Grill Inc, Cl A * | 184 | 120 | ||||||
Choice Hotels International Inc | 113 | 7 | ||||||
Citi Trends | 2,295 | 20 | ||||||
Columbia Sportswear Co | 891 | 62 | ||||||
Conn’s * | 4,000 | 17 | ||||||
Cooper Tire & Rubber | 1,668 | 27 | ||||||
Cracker Barrel Old Country Store | 323 | 27 | ||||||
Dana | 2,660 | 21 | ||||||
Darden Restaurants Inc | 705 | 38 | ||||||
Dave & Buster’s Entertainment | 1,283 | 17 | ||||||
Deckers Outdoor * | 306 | 41 | ||||||
Denny’s * | 2,500 | 19 | ||||||
Designer Brands, Cl A | 3,316 | 17 | ||||||
Dick’s Sporting Goods | 1,054 | 22 | ||||||
Dillard’s, Cl A | 726 | 27 | ||||||
Discovery Inc, Cl C * | 354 | 6 | ||||||
Dollar General Corp | 2,783 | 420 | ||||||
Dollar Tree Inc * | 1,707 | 125 | ||||||
Domino’s Pizza Inc | 309 | 100 | ||||||
Dorman Products * | 677 | 37 | ||||||
DR Horton Inc | 1,973 | 67 | ||||||
Duluth Holdings, Cl B * | 4,946 | 20 | ||||||
Dunkin’ Brands Group Inc | 2,803 | 149 | ||||||
eBay Inc | 24,197 | 727 | ||||||
Ethan Allen Interiors | 2,741 | 28 | ||||||
Etsy Inc * | 1,162 | 45 | ||||||
Expedia Group Inc | 103 | 6 | ||||||
Express * | 10,267 | 15 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Five Below * | 410 | $ | 29 | |||||
Flexsteel Industries | 2,468 | 27 | ||||||
Floor & Decor Holdings Inc, Cl A * | 232 | 7 | ||||||
Foot Locker | 1,308 | 29 | ||||||
Ford Motor Co | 36,252 | 175 | ||||||
Fossil Group * | 6,641 | 22 | ||||||
Fox Factory Holding * | 749 | 31 | ||||||
frontdoor Inc * | 251 | 9 | ||||||
Gap Inc/The | 11,382 | 80 | ||||||
General Motors Co | 11,713 | 243 | ||||||
Gentex Corp | 3,795 | 84 | ||||||
Gentherm * | 1,113 | 35 | ||||||
Genuine Parts Co | 109 | 7 | ||||||
Goodyear Tire & Rubber Co/The | 690 | 4 | ||||||
Graham Holdings, Cl B | 78 | 27 | ||||||
Grand Canyon Education Inc * | 121 | 9 | ||||||
Group 1 Automotive | 479 | 21 | ||||||
GrubHub Inc * | 1,289 | 53 | ||||||
Guess? | 2,341 | 16 | ||||||
H&R Block Inc | 3,157 | 44 | ||||||
Hanesbrands Inc | 13,319 | 105 | ||||||
Harley-Davidson Inc | 306 | 6 | ||||||
Hasbro Inc | 2,632 | 188 | ||||||
Haverty Furniture | 2,408 | 29 | ||||||
Helen of Troy * | 304 | 44 | ||||||
Hibbett Sports * | 1,869 | 20 | ||||||
Hilton Grand Vacations Inc * | 3,016 | 48 | ||||||
Hilton Worldwide Holdings Inc | 4,365 | 298 | ||||||
Home Depot Inc/The | 16,979 | 3,170 | ||||||
Hooker Furniture | 1,972 | 31 | ||||||
Hyatt Hotels Corp, Cl A | 135 | 6 | ||||||
Installed Building Products * | 694 | 28 | ||||||
iRobot * | 1,013 | 41 | ||||||
Jack in the Box | 658 | 23 | ||||||
Johnson Outdoors, Cl A | 659 | 41 | ||||||
K12 * | 2,452 | 46 | ||||||
KB Home | 1,467 | 27 | ||||||
Kohl’s Corp | 1,859 | 27 | ||||||
Kontoor Brands | 1,282 | 25 | ||||||
L Brands Inc | 638 | 7 | ||||||
Laureate Education, Cl A * | 2,881 | 30 | ||||||
La-Z-Boy, Cl Z | 1,597 | 33 | ||||||
LCI Industries | 483 | 32 | ||||||
Lear Corp | 6,889 | 560 | ||||||
Leggett & Platt Inc | 222 | 6 | ||||||
Lennar, Cl B | 728 | 21 | ||||||
LGI Homes * | 127 | 6 | ||||||
Liberty SiriusXM Group, Cl C * | 234 | 7 | ||||||
LKQ Corp * | 317 | 7 | ||||||
Lowe’s Cos Inc | 15,716 | 1,352 | ||||||
Lumber Liquidators Holdings * | 5,050 | 24 | ||||||
M * | 1,195 | 20 |
2 | New Covenant Funds/ Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Macy’s Inc | 4,042 | $ | 20 | |||||
Madison Square Garden Co/The * | 39 | 8 | ||||||
Malibu Boats, Cl A * | 1,232 | 35 | ||||||
Marriott International Inc/MD, Cl A | 3,599 | 269 | ||||||
Marriott Vacations Worldwide | 394 | 22 | ||||||
MasterCraft Boat Holdings * | 3,123 | 23 | ||||||
Mattel Inc * | 14,805 | 130 | ||||||
McDonald’s Corp | 11,361 | 1,879 | ||||||
MDC Holdings | 1,302 | 30 | ||||||
Meritage Homes * | 794 | 29 | ||||||
Michaels * | 7,530 | 12 | ||||||
Mohawk Industries Inc * | 127 | 10 | ||||||
Monro | 626 | 27 | ||||||
Movado Group | 2,352 | 28 | ||||||
Murphy USA * | 422 | 36 | ||||||
Nathan’s Famous | 717 | 44 | ||||||
National Vision Holdings * | 1,563 | 30 | ||||||
Netflix Inc * | 5,775 | 2,169 | ||||||
Newell Brands Inc | 605 | 8 | ||||||
News Corp, Cl A | 829 | 7 | ||||||
NIKE Inc, Cl B | 17,693 | 1,464 | ||||||
Nordstrom Inc | 3,866 | 59 | ||||||
Norwegian Cruise Line Holdings Ltd * | 206 | 2 | ||||||
NVR * | 13 | 33 | ||||||
Office Depot | 19,011 | 31 | ||||||
Ollie’s Bargain Outlet Holdings * | 746 | 35 | ||||||
OneSpaWorld Holdings | 3,063 | 12 | ||||||
O’Reilly Automotive Inc * | 677 | 204 | ||||||
Oxford Industries | 665 | 24 | ||||||
Papa John’s International | 806 | 43 | ||||||
Penske Automotive Group | 957 | 27 | ||||||
PetMed Express | 2,172 | 63 | ||||||
Planet Fitness, Cl A * | 685 | 33 | ||||||
Polaris Industries Inc | 966 | 47 | ||||||
Pool Corp | 54 | 11 | ||||||
PulteGroup Inc | 5,125 | 114 | ||||||
PVH Corp | 108 | 4 | ||||||
Quotient Technology * | 4,484 | 29 | ||||||
Qurate Retail Inc * | 1,412 | 9 | ||||||
Ralph Lauren Corp, Cl A | 690 | 46 | ||||||
RealReal * | 2,868 | 20 | ||||||
Red Robin Gourmet Burgers * | 1,675 | 14 | ||||||
Rent-A-Center, Cl A | 1,764 | 25 | ||||||
RH * | 224 | 23 | ||||||
Roku Inc, Cl A * | 84 | 7 | ||||||
Ross Stores Inc | 3,209 | 279 | ||||||
Royal Caribbean Cruises Ltd | 8,804 | 283 | ||||||
Rubicon Project * | 1,140 | 6 | ||||||
Ruth’s Hospitality Group | 2,238 | 15 | ||||||
Sally Beauty Holdings * | 2,794 | 23 | ||||||
SeaWorld Entertainment * | 1,594 | 18 | ||||||
Service Corp International/US | 250 | 10 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
ServiceMaster Global Holdings * | 1,327 | $ | 36 | |||||
Shake Shack, Cl A * | 157 | 6 | ||||||
Shutterstock | 1,176 | 38 | ||||||
Signet Jewelers | 2,402 | 16 | ||||||
Six Flags Entertainment Corp | 248 | 3 | ||||||
Sleep Number * | 1,033 | 20 | ||||||
Stamps.com * | 630 | 82 | ||||||
Standard Motor Products | 943 | 39 | ||||||
Starbucks Corp | 16,902 | 1,111 | ||||||
Steven Madden | 1,178 | 27 | ||||||
Stitch Fix, Cl A * | 1,950 | 25 | ||||||
Strategic Education | 331 | 46 | ||||||
Tapestry Inc | 2,803 | 36 | ||||||
Target Corp | 6,577 | 611 | ||||||
Taylor Morrison Home, Cl A * | 2,239 | 25 | ||||||
Tempur-Pedic International * | 568 | 25 | ||||||
Tenneco, Cl A | 3,599 | 13 | ||||||
Tesla Inc * | 2,039 | 1,068 | ||||||
Texas Roadhouse, Cl A | 889 | 37 | ||||||
Thor Industries | 721 | 30 | ||||||
Tiffany & Co | 483 | 63 | ||||||
TJX Cos Inc/The | 13,863 | 663 | ||||||
Toll Brothers Inc | 2,246 | 43 | ||||||
TopBuild * | 476 | 34 | ||||||
Tractor Supply Co | 2,377 | 201 | ||||||
TRI Pointe Group * | 3,236 | 28 | ||||||
TripAdvisor | 1,712 | 30 | ||||||
Tupperware Brands Corp | 6,142 | 10 | ||||||
Ulta Beauty Inc * | 279 | 49 | ||||||
Under Armour Inc, Cl C * | 556 | 5 | ||||||
Unifi * | 1,944 | 22 | ||||||
Urban Outfitters Inc * | 417 | 6 | ||||||
Vail Resorts Inc | 46 | 7 | ||||||
VF Corp | 4,023 | 218 | ||||||
Visteon Corp * | 551 | 26 | ||||||
Wayfair Inc, Cl A * | 590 | 32 | ||||||
Wendy’s Co/The | 11,419 | 170 | ||||||
Whirlpool Corp | 638 | 55 | ||||||
Williams-Sonoma Inc | 160 | 7 | ||||||
Wingstop | 582 | 46 | ||||||
Winnebago Industries | 191 | 5 | ||||||
Wolverine World Wide | 1,511 | 23 | ||||||
WW International * | 1,262 | 21 | ||||||
Wyndham Destinations Inc | 4,669 | 101 | ||||||
Wyndham Hotels & Resorts Inc | 189 | 6 | ||||||
Yum China Holdings Inc | 1,913 | 82 | ||||||
Yum! Brands Inc | 8,356 | 573 | ||||||
Zumiez * | 1,593 | 28 | ||||||
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38,734 | ||||||||
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Consumer Staples — 6.9% | ||||||||
Andersons | 1,960 | 37 |
New Covenant Funds/ Quarterly Report / March 31, 2020 | 3 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Archer-Daniels-Midland Co | 4,581 | $ | 161 | |||||
B&G Foods | 2,907 | 53 | ||||||
Beyond Meat Inc * | 535 | 36 | ||||||
BJ’s Wholesale Club Holdings * | 2,099 | 53 | ||||||
Bunge Ltd | 1,596 | 65 | ||||||
Calavo Growers | 571 | 33 | ||||||
Campbell Soup Co | 10,354 | 478 | ||||||
Casey’s General Stores | 319 | 42 | ||||||
Chefs’ Warehouse * | 1,366 | 14 | ||||||
Church & Dwight Co Inc | 1,714 | 110 | ||||||
Clorox Co/The | 3,366 | 583 | ||||||
Coca-Cola Co/The | 65,159 | 2,883 | ||||||
Colgate-Palmolive Co | 14,526 | 964 | ||||||
Conagra Brands Inc | 14,479 | 425 | ||||||
Costco Wholesale Corp | 6,288 | 1,793 | ||||||
Coty Inc, Cl A | 1,026 | 5 | ||||||
Darling Ingredients * | 1,847 | 35 | ||||||
Edgewell Personal Care * | 1,589 | 38 | ||||||
Energizer Holdings Inc | 231 | 7 | ||||||
Estee Lauder Cos Inc/The, Cl A | 2,390 | 381 | ||||||
Farmer Brothers * | 3,118 | 22 | ||||||
Flowers Foods Inc | 9,872 | 203 | ||||||
Fresh Del Monte Produce | 1,442 | 40 | ||||||
General Mills Inc | 13,887 | 733 | ||||||
Grocery Outlet Holding * | 1,603 | 55 | ||||||
Hain Celestial Group Inc/The * | 461 | 12 | ||||||
Hershey Co/The | 2,295 | 304 | ||||||
HF Foods Group * | 2,213 | 19 | ||||||
Hormel Foods Corp | 4,797 | 224 | ||||||
Hostess Brands, Cl A * | 3,470 | 37 | ||||||
Ingredion Inc | 1,110 | 84 | ||||||
J&J Snack Foods | 274 | 33 | ||||||
JM Smucker Co/The | 7,294 | 810 | ||||||
John B Sanfilippo & Son | 544 | 49 | ||||||
Kellogg Co | 6,713 | 403 | ||||||
Keurig Dr Pepper Inc | 18,064 | 438 | ||||||
Kimberly-Clark Corp | 6,484 | 829 | ||||||
Kraft Heinz Co/The | 4,224 | 105 | ||||||
Kroger Co/The | 26,817 | 808 | ||||||
Lamb Weston Holdings | 594 | 34 | ||||||
Lancaster Colony | 319 | 46 | ||||||
McCormick & Co Inc/MD | 2,916 | 412 | ||||||
Medifast | 533 | 33 | ||||||
Mondelez International Inc, Cl A | 18,714 | 937 | ||||||
Monster Beverage Corp * | 2,682 | 151 | ||||||
National Beverage * | 975 | 42 | ||||||
New Age Beverages * | 27,322 | 38 | ||||||
PepsiCo Inc | 28,780 | 3,456 | ||||||
Performance Food Group * | 1,023 | 25 | ||||||
Pilgrim’s Pride Corp * | 355 | 6 | ||||||
Post Holdings Inc * | 108 | 9 | ||||||
Pricesmart | 690 | 36 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Procter & Gamble Co/The | 36,001 | $ | 3,960 | |||||
Sanderson Farms | 297 | 37 | ||||||
SpartanNash | 3,599 | 52 | ||||||
Spectrum Brands Holdings Inc | 183 | 7 | ||||||
Sprouts Farmers Market Inc * | 6,575 | 122 | ||||||
Sysco Corp | 20,078 | 916 | ||||||
Tootsie Roll Industries | 1,505 | 54 | ||||||
TreeHouse Foods Inc * | 237 | 10 | ||||||
Tyson Foods Inc, Cl A | 2,073 | 120 | ||||||
US Foods Holding Corp * | 2,211 | 39 | ||||||
Walgreens Boots Alliance Inc | 8,946 | 409 | ||||||
Walmart Inc | 19,242 | 2,186 | ||||||
WD-40 | 259 | 52 | ||||||
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26,593 | ||||||||
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Energy — 2.2% | ||||||||
Altus Midstream, Cl A * | 18,316 | 14 | ||||||
Antero Midstream | 7,912 | 17 | ||||||
Apache Corp | 4,822 | 20 | ||||||
Apergy Corp * | 383 | 2 | ||||||
Baker Hughes a GE Co, Cl A | 4,496 | 47 | ||||||
Cabot Oil & Gas Corp | 3,306 | 57 | ||||||
Cactus, Cl A | 1,525 | 18 | ||||||
Cheniere Energy Inc * | 1,265 | 42 | ||||||
Chesapeake Energy Corp * | 32,883 | 6 | ||||||
Chevron Corp | 26,616 | 1,929 | ||||||
Cimarex Energy | 995 | 17 | ||||||
CNX Resources * | 6,091 | 32 | ||||||
Concho Resources Inc | 142 | 6 | ||||||
ConocoPhillips | 28,755 | 886 | ||||||
CONSOL Energy * | 3,418 | 13 | ||||||
Continental Resources Inc/OK | 337 | 3 | ||||||
Devon Energy Corp | 8,276 | 57 | ||||||
Diamond S Shipping * | 3,276 | 39 | ||||||
Diamondback Energy Inc | 133 | 3 | ||||||
Dril-Quip * | 1,072 | 33 | ||||||
EOG Resources Inc | 6,126 | 220 | ||||||
EQT Corp | 2,732 | 19 | ||||||
Equitrans Midstream Corp | 2,185 | 11 | ||||||
Exxon Mobil Corp | 57,993 | 2,202 | ||||||
Frank’s International * | 9,174 | 24 | ||||||
Golar LNG | 3,888 | 31 | ||||||
Halliburton Co | 4,450 | 30 | ||||||
Helmerich & Payne Inc | 1,494 | 23 | ||||||
Hess Corp | 4,195 | 140 | ||||||
HollyFrontier Corp | 3,119 | 76 | ||||||
International Seaways | 1,773 | 42 | ||||||
Kinder Morgan Inc/DE | 21,442 | 298 | ||||||
Kosmos Energy Ltd | 2,007 | 2 | ||||||
Magnolia Oil & Gas * | 3,984 | 16 | ||||||
Marathon Oil Corp | 5,472 | 18 | ||||||
Marathon Petroleum Corp | 7,000 | 165 |
4 | New Covenant Funds/ Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Murphy Oil Corp | 449 | $ | 3 | |||||
Nabors Industries | 18,382 | 7 | ||||||
National Oilwell Varco Inc | 482 | 5 | ||||||
NextDecade * | 8,250 | 15 | ||||||
Noble Energy Inc | 6,179 | 37 | ||||||
Occidental Petroleum Corp | 8,202 | 95 | ||||||
Oceaneering International Inc * | 3,376 | 10 | ||||||
Oil States International * | 3,021 | 6 | ||||||
ONEOK Inc | 3,505 | 76 | ||||||
Parsley Energy, Cl A | 2,802 | 16 | ||||||
Patterson-UTI Energy | 4,952 | 12 | ||||||
PBF Energy Inc, Cl A | 363 | 3 | ||||||
Phillips 66 | 5,367 | 288 | ||||||
Pioneer Natural Resources Co | 1,910 | 134 | ||||||
Range Resources Corp | 2,413 | 5 | ||||||
RPC | 10,482 | 22 | ||||||
Schlumberger Ltd | 41,175 | 555 | ||||||
Southwestern Energy * | 21,739 | 37 | ||||||
Targa Resources Corp | 301 | 2 | ||||||
Teekay | 9,842 | 31 | ||||||
Tellurian * | 7,235 | 7 | ||||||
Transocean * | 8,264 | 9 | ||||||
Valero Energy Corp | 4,715 | 214 | ||||||
Williams Cos Inc/The | 11,002 | 156 | ||||||
WPX Energy * | 3,940 | 12 | ||||||
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| ||||||
8,315 | ||||||||
|
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| ||||||
Financials — 11.0% | ||||||||
Affiliated Managers Group Inc | 910 | 54 | ||||||
Aflac Inc | 6,398 | 219 | ||||||
AGNC Investment | 2,838 | 30 | ||||||
Alleghany Corp | 15 | 8 | ||||||
Allegiance Bancshares | 1,318 | 32 | ||||||
Allstate Corp/The | 3,458 | 317 | ||||||
Ally Financial | 1,575 | 23 | ||||||
American Express Co | 9,360 | 801 | ||||||
American Financial Group | 449 | 31 | ||||||
American Homes 4 Rent, Cl A ‡ | 1,974 | 46 | ||||||
American International Group Inc | 8,217 | 199 | ||||||
American National Insurance | 421 | 35 | ||||||
Ameriprise Financial Inc | 1,250 | 128 | ||||||
Ameris Bancorp | 1,129 | 27 | ||||||
AMERISAFE | 743 | 48 | ||||||
Annaly Capital Management Inc ‡ | 8,922 | 45 | ||||||
Anworth Mortgage Asset | 13,514 | 15 | ||||||
Apollo Commercial Real Estate Finance | 2,686 | 20 | ||||||
Arch Capital Group Ltd * | 2,404 | 68 | ||||||
Argo Group International Holdings | 750 | 28 | ||||||
ARMOUR Residential REIT | 2,854 | 25 | ||||||
Arthur J Gallagher & Co | 743 | 61 | ||||||
Artisan Partners Asset Management, Cl A | 1,589 | 34 | ||||||
Assetmark Financial Holdings * | 1,796 | 37 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Associated Banc-Corp | 4,274 | $ | 55 | |||||
Assurant Inc | 87 | 9 | ||||||
Assured Guaranty | 994 | 26 | ||||||
Athene Holding, Cl A * | 1,071 | 27 | ||||||
Atlantic Capital Bancshares * | 2,642 | 31 | ||||||
Atlantic Union Bankshares | 1,302 | 29 | ||||||
Axis Capital Holdings | 825 | 32 | ||||||
Axos Financial * | 1,657 | 30 | ||||||
Banc of California | 2,959 | 24 | ||||||
BancorpSouth Bank | 1,525 | 29 | ||||||
Bank of America Corp | 115,778 | 2,458 | ||||||
Bank of Hawaii Corp | 1,051 | 58 | ||||||
Bank of Marin Bancorp | 1,079 | 32 | ||||||
Bank of New York Mellon Corp/The | 12,656 | 426 | ||||||
Bank of NT Butterfield & Son | 1,324 | 23 | ||||||
Bank OZK | 366 | 6 | ||||||
BankUnited Inc | 2,418 | 45 | ||||||
Banner | 851 | 28 | ||||||
Berkshire Hathaway Inc, Cl B * | 28,456 | 5,203 | ||||||
Berkshire Hills Bancorp | 1,501 | 22 | ||||||
BGC Partners, Cl A | 8,389 | 21 | ||||||
BlackRock Inc, Cl A | 1,478 | 650 | ||||||
Blackstone Mortgage Trust, Cl A | 1,347 | 25 | ||||||
BOK Financial | 568 | 24 | ||||||
Boston Private Financial Holdings | 4,112 | 29 | ||||||
Bridge Bancorp | 1,467 | 31 | ||||||
Brighthouse Financial Inc * | 268 | 6 | ||||||
Brown & Brown Inc | 290 | 11 | ||||||
Bryn Mawr Bank | 1,221 | 35 | ||||||
Camden National | 1,097 | 34 | ||||||
Capital One Financial Corp | 4,592 | 232 | ||||||
Capitol Federal Financial | 3,529 | 41 | ||||||
Capstead Mortgage | 6,235 | 26 | ||||||
Carolina Financial | 1,156 | 30 | ||||||
Cathay General Bancorp | 1,291 | 30 | ||||||
Cboe Global Markets Inc | 99 | 9 | ||||||
CenterState Bank | 1,942 | 33 | ||||||
Central Pacific Financial | 1,651 | 26 | ||||||
Charles Schwab Corp/The | 13,043 | 439 | ||||||
Cherry Hill Mortgage Investment | 3,400 | 21 | ||||||
Chimera Investment | 2,402 | 22 | ||||||
Chubb Ltd | 6,169 | 689 | ||||||
Cincinnati Financial Corp | 891 | 67 | ||||||
CIT Group | 1,060 | 18 | ||||||
Citigroup Inc | 29,852 | 1,257 | ||||||
Citizens Financial Group Inc | 2,381 | 45 | ||||||
City Holding | 607 | 40 | ||||||
CME Group Inc, Cl A | 4,726 | 817 | ||||||
CNA Financial Corp | 253 | 8 | ||||||
Cohen & Steers | 764 | 35 | ||||||
Colony Credit Real Estate | 3,608 | 14 | ||||||
Columbia Banking System | 1,223 | 33 |
New Covenant Funds/ Quarterly Report / March 31, 2020 | 5 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Comerica Inc | 1,232 | $ | 36 | |||||
Commerce Bancshares Inc/MO | 1,488 | 75 | ||||||
Community Bank System | 710 | 42 | ||||||
ConnectOne Bancorp | 1,891 | 25 | ||||||
Credit Acceptance Corp * | 177 | 45 | ||||||
Cullen/Frost Bankers Inc | 850 | 47 | ||||||
CVB Financial | 2,268 | 45 | ||||||
Discover Financial Services | 31,226 | 1,114 | ||||||
Dynex Capital | 2,918 | 30 | ||||||
E*TRADE Financial Corp | 1,729 | 59 | ||||||
Eagle Bancorp | 1,035 | 31 | ||||||
East West Bancorp Inc | 1,710 | 44 | ||||||
eHealth * | 512 | 72 | ||||||
Ellington Financial | 2,748 | 16 | ||||||
Enterprise Financial Services | 1,063 | 30 | ||||||
Equitable Holdings | 432 | 6 | ||||||
Erie Indemnity Co, Cl A | 433 | 64 | ||||||
Essent Group | 970 | 26 | ||||||
Evercore, Cl A | 659 | 30 | ||||||
Everest Re Group | 179 | 34 | ||||||
FactSet Research Systems Inc | 306 | 80 | ||||||
FB Financial | 1,250 | 25 | ||||||
Federal Agricultural Mortgage, Cl C | 597 | 33 | ||||||
Federated Investors, Cl B | 1,492 | 28 | ||||||
Fidelity National Financial | 1,063 | 26 | ||||||
Fifth Third Bancorp | 4,599 | 68 | ||||||
First American Financial | 814 | 35 | ||||||
First BanCorp | 4,571 | 24 | ||||||
First Busey | 1,790 | 31 | ||||||
First Citizens BancShares, Cl A | 94 | 31 | ||||||
First Commonwealth Financial | 3,365 | 31 | ||||||
First Financial Bancorp | 1,921 | 29 | ||||||
First Financial Bankshares | 1,378 | 37 | ||||||
First Hawaiian Inc | 3,126 | 52 | ||||||
First Horizon National | 3,007 | 24 | ||||||
First Merchants | 1,182 | 31 | ||||||
First Midwest Bancorp | 2,129 | 28 | ||||||
First Republic Bank/CA | 831 | 68 | ||||||
FirstCash | 612 | 44 | ||||||
FNB | 3,907 | 29 | ||||||
Franklin Financial Network | 1,421 | 29 | ||||||
Franklin Resources Inc | 6,856 | 114 | ||||||
Fulton Financial | 2,789 | 32 | ||||||
Genworth Financial, Cl A * | 10,439 | 35 | ||||||
German American Bancorp | 1,414 | 39 | ||||||
Globe Life | 108 | 8 | ||||||
Goldman Sachs Group Inc/The | 3,708 | 573 | ||||||
Goosehead Insurance, Cl A * | 215 | 10 | ||||||
Granite Point Mortgage Trust | 2,716 | 14 | ||||||
Great Western Bancorp | 1,390 | 28 | ||||||
Hancock Whitney | 1,142 | 22 | ||||||
Hanmi Financial | 2,417 | 26 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Hanover Insurance Group Inc/The | 694 | $ | 63 | |||||
HarborOne Bancorp * | 4,621 | 35 | ||||||
Hartford Financial Services Group Inc/The | 4,042 | 142 | ||||||
Heartland Financial USA | 1,003 | 30 | ||||||
Heritage Financial | 1,744 | 35 | ||||||
Home BancShares | 2,523 | 30 | ||||||
HomeStreet | 1,465 | 33 | ||||||
Hope Bancorp | 3,233 | 27 | ||||||
Horace Mann Educators | 1,125 | 41 | ||||||
Houlihan Lokey, Cl A | 1,032 | 54 | ||||||
Huntington Bancshares Inc/OH | 6,282 | 52 | ||||||
IBERIABANK | 662 | 24 | ||||||
Independent Bank | 580 | 37 | ||||||
Independent Bank Group | 846 | 20 | ||||||
Intercontinental Exchange Inc | 6,879 | 555 | ||||||
International Bancshares | 1,137 | 31 | ||||||
Invesco Ltd | 18,276 | 166 | ||||||
Invesco Mortgage Capital | 2,946 | 10 | ||||||
Investors Bancorp | 4,061 | 32 | ||||||
James River Group Holdings | 1,180 | 43 | ||||||
Janus Henderson Group | 2,016 | 31 | ||||||
Jefferies Financial Group | 2,313 | 32 | ||||||
JPMorgan Chase & Co | 52,401 | 4,718 | ||||||
KeyCorp | 12,904 | 134 | ||||||
Kinsale Capital Group | 488 | 51 | ||||||
KKR Real Estate Finance Trust | 2,440 | 37 | ||||||
Lakeland Bancorp | 2,890 | 31 | ||||||
Lazard Ltd, Cl A (A) | 2,316 | 55 | ||||||
Legg Mason | 1,356 | 66 | ||||||
LendingClub * | 3,859 | 30 | ||||||
LendingTree * | 175 | 32 | ||||||
Lincoln National Corp | 3,621 | 95 | ||||||
Loews Corp | 222 | 8 | ||||||
LPL Financial Holdings Inc | 1,036 | 56 | ||||||
M&T Bank Corp | 929 | 96 | ||||||
Markel Corp * | 48 | 45 | ||||||
MarketAxess Holdings Inc | 305 | 101 | ||||||
Marlin Business Services | 7,407 | 83 | ||||||
Marsh & McLennan Cos Inc | 16,703 | 1,444 | ||||||
Mercantile Bank | 1,349 | 29 | ||||||
Mercury General Corp | 233 | 9 | ||||||
Meta Financial Group | 1,407 | 31 | ||||||
MetLife Inc | 7,024 | 215 | ||||||
MFA Financial | 6,337 | 10 | ||||||
MGIC Investment | 3,455 | 22 | ||||||
MidWestOne Financial Group | 1,357 | 28 | ||||||
Moelis, Cl A | 1,564 | 44 | ||||||
Moody’s Corp | 1,782 | 377 | ||||||
Morgan Stanley | 35,755 | 1,216 | ||||||
Morningstar Inc | 1,607 | 187 | ||||||
Mr Cooper Group * | 3,903 | 29 | ||||||
MSCI Inc, Cl A | 1,669 | 482 |
6 | New Covenant Funds/ Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Nasdaq Inc | 2,378 | $ | 226 | |||||
Navient | 3,513 | 27 | ||||||
NBT Bancorp | 1,213 | 39 | ||||||
Nelnet, Cl A | 793 | 36 | ||||||
New Residential Investment | 3,080 | 15 | ||||||
New York Community Bancorp Inc | 951 | 9 | ||||||
New York Mortgage Trust | 7,776 | 12 | ||||||
NMI Holdings, Cl A * | 1,470 | 17 | ||||||
Northern Trust Corp | 8,350 | 630 | ||||||
Northfield Bancorp | 2,868 | 32 | ||||||
OFG Bancorp | 2,119 | 24 | ||||||
Old National Bancorp | 2,680 | 35 | ||||||
Old Republic International | 2,203 | 34 | ||||||
On Deck Capital * | 12,500 | 19 | ||||||
OneMain Holdings Inc, Cl A | 258 | 5 | ||||||
Opus Bank | 1,893 | 33 | ||||||
Pacific Premier Bancorp | 1,485 | 28 | ||||||
PacWest Bancorp | 1,283 | 23 | ||||||
Palomar Holdings, Cl A * | 929 | 54 | ||||||
PennyMac Mortgage Investment Trust | 2,213 | 23 | ||||||
People’s United Financial Inc | 5,001 | 55 | ||||||
Pinnacle Financial Partners Inc | 1,489 | 56 | ||||||
PNC Financial Services Group Inc/The | 5,690 | 545 | ||||||
PRA Group * | 1,320 | 37 | ||||||
Preferred Bank | 845 | 29 | ||||||
Primerica | 365 | 32 | ||||||
Principal Financial Group Inc | 662 | 21 | ||||||
ProAssurance | 1,351 | 34 | ||||||
Progressive Corp/The | 6,981 | 515 | ||||||
ProSight Global * | 2,999 | 29 | ||||||
Prosperity Bancshares Inc | 1,192 | 58 | ||||||
Provident Financial Services | 1,988 | 26 | ||||||
Prudential Financial Inc | 16,015 | 835 | ||||||
PS Business Parks ‡ | 306 | 41 | ||||||
Radian Group | 1,924 | 25 | ||||||
Raymond James Financial Inc | 980 | 62 | ||||||
Redwood Trust | 2,992 | 15 | ||||||
Regions Financial Corp | 72,286 | 648 | ||||||
Reinsurance Group of America Inc, Cl A | 578 | 49 | ||||||
Renasant | 1,366 | 30 | ||||||
RLI | 545 | 48 | ||||||
S&P Global Inc | 7,309 | 1,791 | ||||||
S&T Bancorp | 1,247 | 34 | ||||||
Safeguard Scientifics | 4,091 | 23 | ||||||
Sandy Spring Bancorp | 1,350 | 31 | ||||||
Santander Consumer USA Holdings Inc | 476 | 7 | ||||||
Seacoast Banking Corp of Florida * | 1,616 | 30 | ||||||
Selective Insurance Group | 739 | 37 | ||||||
ServisFirst Bancshares | 1,306 | 38 | ||||||
Signature Bank/New York NY | 676 | 54 | ||||||
Simmons First National, Cl A | 1,836 | 34 | ||||||
SLM Corp | 8,316 | 60 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
South State | 573 | $ | 34 | |||||
Starwood Property Trust ‡ | 2,000 | 20 | ||||||
State Street Corp | 9,970 | 531 | ||||||
Sterling Bancorp | 2,321 | 24 | ||||||
Stifel Financial | 807 | 33 | ||||||
SVB Financial Group * | 346 | 52 | ||||||
Synchrony Financial | 4,720 | 76 | ||||||
Synovus Financial | 1,267 | 22 | ||||||
T Rowe Price Group Inc | 2,711 | 265 | ||||||
TCF Financial | 1,085 | 25 | ||||||
TD Ameritrade Holding Corp | 221 | 8 | ||||||
Texas Capital Bancshares * | 822 | 18 | ||||||
TFS Financial Corp | 573 | 9 | ||||||
Tiptree | 6,082 | 32 | ||||||
Tompkins Financial | 549 | 39 | ||||||
TPG RE Finance Trust | 2,439 | 13 | ||||||
Travelers Cos Inc/The | 2,743 | 273 | ||||||
TriCo Bancshares | 1,219 | 36 | ||||||
TriState Capital Holdings * | 1,917 | 19 | ||||||
Triumph Bancorp * | 1,296 | 34 | ||||||
Truist Financial | 16,871 | 520 | ||||||
Trustmark | 1,410 | 33 | ||||||
Two Harbors Investment Corp | 6,390 | 24 | ||||||
UMB Financial | 715 | 33 | ||||||
Umpqua Holdings | 2,753 | 30 | ||||||
Universal Insurance Holdings | 1,696 | 30 | ||||||
Univest Financial | 1,820 | 30 | ||||||
Unum Group | 1,638 | 25 | ||||||
US Bancorp | 20,106 | 693 | ||||||
Valley National Bancorp | 4,269 | 31 | ||||||
Veritex Holdings | 1,729 | 24 | ||||||
Virtu Financial, Cl A | 3,026 | 63 | ||||||
Voya Financial Inc | 4,001 | 162 | ||||||
Waddell & Reed Financial, Cl A | 2,974 | 34 | ||||||
Walker & Dunlop | 749 | 30 | ||||||
Washington Federal | 1,337 | 35 | ||||||
Washington Trust Bancorp | 924 | 34 | ||||||
Watford Holdings * | 1,869 | 27 | ||||||
Webster Financial | 934 | 21 | ||||||
Wells Fargo & Co | 50,687 | 1,455 | ||||||
Westamerica Bancorporation | 731 | 43 | ||||||
Western Alliance Bancorp | 1,801 | 55 | ||||||
White Mountains Insurance Group | 44 | 40 | ||||||
Willis Towers Watson PLC | 907 | 154 | ||||||
Wintrust Financial | 708 | 23 | ||||||
WR Berkley Corp | 165 | 9 | ||||||
Zions Bancorp NA | 1,771 | 47 | ||||||
|
|
| ||||||
42,479 | ||||||||
|
|
| ||||||
Health Care — 14.7% | ||||||||
Abbott Laboratories | 35,040 | 2,765 | ||||||
AbbVie Inc | 21,492 | 1,637 |
New Covenant Funds/ Quarterly Report / March 31, 2020 | 7 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
ABIOMED Inc * | 332 | $ | 48 | |||||
Acadia Healthcare * | 1,517 | 28 | ||||||
Acceleron Pharma * | 123 | 11 | ||||||
Adaptive Biotechnologies * | 1,704 | 47 | ||||||
Addus HomeCare * | 545 | 37 | ||||||
Adverum Biotechnologies * | 4,537 | 44 | ||||||
Aerie Pharmaceuticals * | 2,282 | 31 | ||||||
Agilent Technologies Inc | 7,874 | 564 | ||||||
Agios Pharmaceuticals * | 1,062 | 38 | ||||||
Aimmune Therapeutics * | 1,579 | 23 | ||||||
Aldeyra Therapeutics * | 9,277 | 23 | ||||||
Alexion Pharmaceuticals Inc * | 1,593 | 143 | ||||||
Align Technology Inc * | 602 | 105 | ||||||
Alkermes * | 2,433 | 35 | ||||||
Allakos * | 378 | 17 | ||||||
Allergan PLC | 4,194 | 743 | ||||||
Allogene Therapeutics * | 1,838 | 36 | ||||||
Alnylam Pharmaceuticals Inc * | 1,202 | 131 | ||||||
Amedisys * | 309 | 57 | ||||||
AmerisourceBergen Corp, Cl A | 759 | 67 | ||||||
Amgen Inc | 11,116 | 2,254 | ||||||
Amicus Therapeutics * | 5,193 | 48 | ||||||
AMN Healthcare Services * | 832 | 48 | ||||||
Anika Therapeutics * | 920 | 27 | ||||||
Anthem Inc | 2,950 | 670 | ||||||
Apollo Medical Holdings * | 2,730 | 35 | ||||||
Arena Pharmaceuticals * | 1,077 | 45 | ||||||
Arrowhead Pharmaceuticals * | 788 | 23 | ||||||
Atara Biotherapeutics * | 3,254 | 28 | ||||||
Atrion | 71 | 46 | ||||||
Avanos Medical * | 1,561 | 42 | ||||||
Avantor * | 2,699 | 34 | ||||||
Axonics Modulation Technologies * | 351 | 9 | ||||||
Axsome Therapeutics * | 618 | 36 | ||||||
Baxter International Inc | 12,373 | 1,005 | ||||||
Becton Dickinson and Co | 4,437 | 1,019 | ||||||
BioDelivery Sciences International * | 7,746 | 29 | ||||||
Biogen Inc * | 3,113 | 985 | ||||||
Biohaven Pharmaceutical Holding * | 941 | 32 | ||||||
BioMarin Pharmaceutical Inc * | 1,042 | 88 | ||||||
Bio-Rad Laboratories Inc, Cl A * | 32 | 11 | ||||||
BioSpecifics Technologies * | 871 | 49 | ||||||
Bio-Techne Corp | 53 | 10 | ||||||
BioTelemetry * | 1,100 | 42 | ||||||
Bluebird Bio Inc * | 645 | 30 | ||||||
Boston Scientific Corp * | 15,046 | 491 | ||||||
Bridgebio Pharma * | 1,432 | 42 | ||||||
Bristol-Myers Squibb Co | 38,732 | 2,159 | ||||||
Brookdale Senior Living * | 7,397 | 23 | ||||||
Bruker Corp | 233 | 8 | ||||||
Cantel Medical Corp | 163 | 6 | ||||||
Cara Therapeutics * | 2,942 | 39 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Cardinal Health Inc | 2,213 | $ | 106 | |||||
CASI Pharmaceuticals * | 15,874 | 32 | ||||||
Catalent * | 949 | 49 | ||||||
Catalyst Pharmaceuticals * | 11,416 | 44 | ||||||
Centene Corp * | 5,875 | 349 | ||||||
Cerner Corp | 16,971 | 1,069 | ||||||
Change Healthcare * | 3,522 | 35 | ||||||
Charles River Laboratories International Inc * | 77 | 10 | ||||||
Chemed | 114 | 49 | ||||||
ChemoCentryx * | 238 | 10 | ||||||
Cigna Corp | 4,819 | 854 | ||||||
CONMED | 450 | 26 | ||||||
Constellation Pharmaceuticals * | 1,060 | 33 | ||||||
Cooper Cos Inc/The | 236 | 65 | ||||||
Corcept Therapeutics * | 3,878 | 46 | ||||||
CorVel * | 606 | 33 | ||||||
Covetrus Inc * | 1,045 | 9 | ||||||
Crinetics Pharmaceuticals * | 2,310 | 34 | ||||||
CVS Health Corp | 28,143 | 1,670 | ||||||
Cytokinetics * | 5,011 | 59 | ||||||
Danaher Corp | 8,116 | 1,123 | ||||||
DaVita Inc * | 160 | 12 | ||||||
Deciphera Pharmaceuticals * | 716 | 29 | ||||||
Denali Therapeutics * | 2,631 | 46 | ||||||
DENTSPLY SIRONA Inc | 3,113 | 121 | ||||||
DexCom Inc * | 630 | 170 | ||||||
Dicerna Pharmaceuticals * | 1,898 | 35 | ||||||
Eagle Pharmaceuticals * | 828 | 38 | ||||||
Editas Medicine * | 1,596 | 32 | ||||||
Edwards Lifesciences Corp * | 2,828 | 533 | ||||||
Eidos Therapeutics * | 786 | 38 | ||||||
Elanco Animal Health Inc * | 398 | 9 | ||||||
Eli Lilly & Co | 11,942 | 1,657 | ||||||
Emergent BioSolutions * | 950 | 55 | ||||||
Enanta Pharmaceuticals * | 785 | 40 | ||||||
Encompass Health Corp | 164 | 10 | ||||||
Envista Holdings * | 1,731 | 26 | ||||||
Epizyme * | 2,749 | 43 | ||||||
Esperion Therapeutics * | 962 | 30 | ||||||
Exact Sciences Corp * | 930 | 54 | ||||||
Exelixis Inc * | 4,344 | 75 | ||||||
Fate Therapeutics * | 411 | 9 | ||||||
FibroGen * | 1,053 | 37 | ||||||
Flexion Therapeutics * | 2,711 | 21 | ||||||
Forty Seven * | 1,401 | 134 | ||||||
G1 Therapeutics * | 1,715 | 19 | ||||||
Gilead Sciences Inc | 18,126 | 1,355 | ||||||
Glaukos * | 167 | 5 | ||||||
Global Blood Therapeutics * | 643 | 33 | ||||||
Globus Medical, Cl A * | 851 | 36 | ||||||
Gossamer Bio * | 3,279 | 33 | ||||||
Gritstone Oncology * | 8,819 | 51 |
8 | New Covenant Funds/ Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Halozyme Therapeutics * | 2,641 | $ | 48 | |||||
Hanger * | 1,891 | 29 | ||||||
HCA Healthcare Inc | 2,314 | 208 | ||||||
Health Catalyst * | 1,594 | 42 | ||||||
HealthEquity * | 673 | 34 | ||||||
Henry Schein Inc * | 2,612 | 132 | ||||||
Heron Therapeutics * | 1,977 | 23 | ||||||
Heska * | 532 | 29 | ||||||
Hill-Rom Holdings Inc | 825 | 83 | ||||||
HMS Holdings * | 1,707 | 43 | ||||||
Hologic Inc * | 216 | 8 | ||||||
Horizon Therapeutics * | 1,437 | 43 | ||||||
Humana Inc * | 1,529 | 480 | ||||||
ICU Medical Inc * | 62 | 13 | ||||||
IDEXX Laboratories Inc * | 535 | 130 | ||||||
Illumina Inc * | 3,200 | 874 | ||||||
Immunomedics * | 2,499 | 34 | ||||||
Incyte Corp * | 1,063 | 78 | ||||||
Innoviva * | 3,557 | 42 | ||||||
Inogen * | 706 | 36 | ||||||
Inovalon Holdings, Cl A * | 2,733 | 46 | ||||||
Insmed * | 2,129 | 34 | ||||||
Inspire Medical Systems * | 715 | 43 | ||||||
Insulet Corp * | 65 | 11 | ||||||
Integer Holdings * | 625 | 39 | ||||||
Integra LifeSciences Holdings Corp * | 188 | 8 | ||||||
Intercept Pharmaceuticals * | 417 | 26 | ||||||
Intra-Cellular Therapies * | 3,894 | 60 | ||||||
Intuitive Surgical Inc * | 1,403 | 695 | ||||||
Ionis Pharmaceuticals * | 782 | 37 | ||||||
Iovance Biotherapeutics * | 1,782 | 53 | ||||||
IQVIA Holdings Inc * | 1,378 | 149 | ||||||
Ironwood Pharmaceuticals, Cl A * | 3,844 | 39 | ||||||
Johnson & Johnson | 40,148 | 5,265 | ||||||
Kala Pharmaceuticals * | 7,142 | 63 | ||||||
Karuna Therapeutics * | 717 | 52 | ||||||
Karyopharm Therapeutics * | 2,929 | 56 | ||||||
Kiniksa Pharmaceuticals, Cl A * | 4,016 | 62 | ||||||
Kodiak Sciences * | 702 | 33 | ||||||
Krystal Biotech * | 823 | 36 | ||||||
Kura Oncology * | 3,438 | 34 | ||||||
La Jolla Pharmaceutical * | 12,626 | 53 | ||||||
Laboratory Corp of America Holdings * | 515 | 65 | ||||||
Lantheus Holdings * | 2,408 | 31 | ||||||
LHC Group * | 383 | 54 | ||||||
Ligand Pharmaceuticals * | 462 | 34 | ||||||
LivaNova * | 657 | 30 | ||||||
Livongo Health * | 1,898 | 54 | ||||||
Luminex | 2,284 | 63 | ||||||
Madrigal Pharmaceuticals * | 531 | 35 | ||||||
McKesson Corp | 1,288 | 174 | ||||||
MEDNAX Inc * | 417 | 5 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Merck & Co Inc | 45,906 | $ | 3,532 | |||||
Meridian Bioscience | 5,130 | 43 | ||||||
Mettler-Toledo International Inc * | 1,629 | 1,125 | ||||||
Minerva Neurosciences * | 7,183 | 43 | ||||||
Mirati Therapeutics * | 429 | 33 | ||||||
Moderna Inc * | 2,959 | 89 | ||||||
Mylan NV * | 607 | 9 | ||||||
MyoKardia * | 751 | 35 | ||||||
Myriad Genetics * | 1,860 | 27 | ||||||
Natera * | 1,361 | 41 | ||||||
National Research | 779 | 35 | ||||||
Natus Medical * | 1,614 | 37 | ||||||
Nektar Therapeutics, Cl A * | 2,328 | 42 | ||||||
Neogen * | 721 | 48 | ||||||
Neurocrine Biosciences Inc * | 1,089 | 94 | ||||||
Nevro * | 83 | 8 | ||||||
NextCure * | 952 | 35 | ||||||
NextGen Healthcare * | 3,392 | 35 | ||||||
NuVasive * | 653 | 33 | ||||||
Option Care Health * | 648 | 6 | ||||||
OraSure Technologies * | 6,042 | 65 | ||||||
PDL BioPharma * | 15,625 | 44 | ||||||
Pennant Group * | 1,609 | 23 | ||||||
Penumbra Inc * | 72 | 12 | ||||||
PerkinElmer Inc | 120 | 9 | ||||||
Pfizer Inc | 86,529 | 2,824 | ||||||
Phreesia * | 361 | 8 | ||||||
Portola Pharmaceuticals Inc * | 1,960 | 14 | ||||||
PRA Health Sciences Inc * | 108 | 9 | ||||||
Premier Inc, Cl A * | 2,266 | 74 | ||||||
Principia Biopharma * | 925 | 55 | ||||||
Prothena * | 713 | 8 | ||||||
PTC Therapeutics * | 1,021 | 46 | ||||||
Puma Biotechnology * | 5,574 | 47 | ||||||
QIAGEN NV * | 2,338 | 97 | ||||||
Quest Diagnostics Inc | 865 | 69 | ||||||
Radius Health * | 2,352 | 31 | ||||||
Reata Pharmaceuticals, Cl A * | 235 | 34 | ||||||
Regeneron Pharmaceuticals Inc * | 1,105 | 540 | ||||||
Repligen * | 553 | 53 | ||||||
ResMed Inc | 2,930 | 432 | ||||||
Retrophin * | 3,434 | 50 | ||||||
Revance Therapeutics * | 3,056 | 45 | ||||||
Rhythm Pharmaceuticals * | 2,112 | 32 | ||||||
Rubius Therapeutics * | 3,679 | 16 | ||||||
Sage Therapeutics Inc * | 516 | 15 | ||||||
Sarepta Therapeutics Inc * | 87 | 9 | ||||||
Seattle Genetics * | 441 | 51 | ||||||
Shockwave Medical * | 1,114 | 37 | ||||||
Simulations Plus | 1,477 | 52 | ||||||
Sorrento Therapeutics * | 12,406 | 23 | ||||||
Spero Therapeutics * | 5,087 | 41 |
New Covenant Funds/ Quarterly Report / March 31, 2020 | 9 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
STAAR Surgical * | 1,343 | $ | 43 | |||||
STERIS PLC | 1,661 | 232 | ||||||
Stryker Corp | 4,213 | 701 | ||||||
Supernus Pharmaceuticals * | 2,174 | 39 | ||||||
Surmodics * | 1,169 | 39 | ||||||
Synlogic * | 22,321 | 38 | ||||||
Syros Pharmaceuticals * | 1,610 | 10 | ||||||
Tactile Systems Technology * | 728 | 29 | ||||||
Tandem Diabetes Care * | 144 | 9 | ||||||
Teladoc Health * | 106 | 16 | ||||||
Teleflex Inc | 742 | 217 | ||||||
TG Therapeutics * | 4,916 | 48 | ||||||
Theravance Biopharma * | 2,200 | 51 | ||||||
Thermo Fisher Scientific Inc | 5,343 | 1,515 | ||||||
Turning Point Therapeutics * | 828 | 37 | ||||||
Ultragenyx Pharmaceutical * | 1,143 | 51 | ||||||
United Therapeutics * | 559 | 53 | ||||||
UnitedHealth Group Inc | 17,164 | 4,280 | ||||||
Universal Health Services Inc, Cl B | 80 | 8 | ||||||
UroGen Pharma * | 1,543 | 28 | ||||||
US Physical Therapy | 428 | 30 | ||||||
Varex Imaging * | 1,631 | 37 | ||||||
Varian Medical Systems Inc * | 1,773 | 182 | ||||||
Veeva Systems Inc, Cl A * | 904 | 141 | ||||||
Vertex Pharmaceuticals Inc * | 3,305 | 786 | ||||||
Viking Therapeutics * | 6,150 | 29 | ||||||
Waters Corp * | 395 | 72 | ||||||
West Pharmaceutical Services Inc | 1,875 | 285 | ||||||
Wright Medical Group * | 1,682 | 48 | ||||||
Zimmer Biomet Holdings Inc | 3,501 | 354 | ||||||
Zoetis Inc, Cl A | 6,022 | 709 | ||||||
Zogenix * | 947 | 23 | ||||||
|
|
| ||||||
56,737 | ||||||||
|
|
| ||||||
Industrials — 8.0% | ||||||||
3M Co | 10,841 | 1,480 | ||||||
AAON | 997 | 48 | ||||||
AAR | 1,101 | 20 | ||||||
ABM Industries | 1,349 | 33 | ||||||
ACCO Brands | 5,214 | 26 | ||||||
Acuity Brands Inc | 84 | 7 | ||||||
ADT | 6,039 | 26 | ||||||
Advanced Disposal Services * | 1,523 | 50 | ||||||
AECOM * | 6,633 | 198 | ||||||
AGCO Corp | 149 | 7 | ||||||
Air Lease, Cl A | 1,053 | 23 | ||||||
Alamo Group | 424 | 38 | ||||||
Alaska Air Group Inc | 10,133 | 288 | ||||||
Albany International, Cl A | 636 | 30 | ||||||
Allegiant Travel, Cl A | 281 | 23 | ||||||
Allegion PLC | 855 | 79 | ||||||
Allison Transmission Holdings Inc | 1,870 | 61 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Altra Industrial Motion | 1,437 | $ | 25 | |||||
AMERCO | 136 | 40 | ||||||
American Airlines Group Inc | 405 | 5 | ||||||
American Woodmark * | 461 | 21 | ||||||
AMETEK Inc | 990 | 71 | ||||||
AO Smith Corp | 1,708 | 65 | ||||||
Apogee Enterprises | 1,229 | 26 | ||||||
Applied Industrial Technologies | 745 | 34 | ||||||
ArcBest | 1,766 | 31 | ||||||
Arconic Inc | 7,379 | 118 | ||||||
Arcosa Inc | 1,128 | 45 | ||||||
Argan | 1,315 | 45 | ||||||
Armstrong Flooring * | 11,849 | 17 | ||||||
Armstrong World Industries Inc | 979 | 78 | ||||||
ASGN * | 723 | 26 | ||||||
Astec Industries | 1,175 | 41 | ||||||
Astronics * | 1,739 | 16 | ||||||
Atkore International Group * | 1,234 | 26 | ||||||
Axon Enterprise * | 701 | 50 | ||||||
AZZ | 1,071 | 30 | ||||||
Barnes Group | 807 | 34 | ||||||
Barrett Business Services | 547 | 22 | ||||||
Bloom Energy, Cl A * | 2,773 | 14 | ||||||
Brady, Cl A | 873 | 39 | ||||||
Brink’s | 540 | 28 | ||||||
Caesarstone | 3,257 | 34 | ||||||
Carlisle | 311 | 39 | ||||||
Casella Waste Systems, Cl A * | 1,080 | 42 | ||||||
CBIZ * | 1,805 | 38 | ||||||
CH Robinson Worldwide Inc | 148 | 10 | ||||||
Chart Industries * | 807 | 23 | ||||||
Cimpress * | 398 | 21 | ||||||
Cintas Corp | 1,907 | 330 | ||||||
CIRCOR International * | 1,110 | 13 | ||||||
Clean Harbors Inc * | 137 | 7 | ||||||
Colfax * | 1,455 | 29 | ||||||
Comfort Systems USA | 988 | 36 | ||||||
Construction Partners, Cl A * | 2,838 | 48 | ||||||
Copa Holdings, Cl A | 469 | 21 | ||||||
Copart Inc * | 1,284 | 88 | ||||||
CoStar Group Inc * | 266 | 156 | ||||||
Covanta Holding | 3,388 | 29 | ||||||
Crane Co | 135 | 7 | ||||||
CSW Industrials | 645 | 42 | ||||||
CSX Corp | 9,694 | 555 | ||||||
Cummins Inc | 3,179 | 430 | ||||||
Curtiss-Wright Corp | 1,789 | 165 | ||||||
Deere & Co | 4,735 | 654 | ||||||
Delta Air Lines Inc | 41,060 | 1,171 | ||||||
Deluxe | 981 | 25 | ||||||
Donaldson Co Inc | 202 | 8 | ||||||
Douglas Dynamics | 918 | 33 |
10 | New Covenant Funds/ Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Dover Corp | 2,207 | $ | 185 | |||||
Dycom Industries * | 1,064 | 27 | ||||||
Eaton Corp PLC | 13,217 | 1,027 | ||||||
EMCOR Group | 565 | 35 | ||||||
Emerson Electric Co | 6,592 | 314 | ||||||
EnerSys | 664 | 33 | ||||||
EnPro Industries | 738 | 29 | ||||||
Equifax Inc | 408 | 49 | ||||||
ESCO Technologies | 568 | 43 | ||||||
Expeditors International of Washington Inc | 1,163 | 78 | ||||||
Exponent | 727 | 52 | ||||||
Fastenal Co | 6,120 | 191 | ||||||
Federal Signal | 1,560 | 43 | ||||||
FedEx Corp | 3,239 | 393 | ||||||
Flowserve Corp | 239 | 6 | ||||||
Fluor Corp | 4,373 | 30 | ||||||
Forrester Research * | 1,169 | 34 | ||||||
Fortune Brands Home & Security Inc | 174 | 8 | ||||||
Forward Air | 727 | 37 | ||||||
Franklin Electric | 897 | 42 | ||||||
FTI Consulting * | 443 | 53 | ||||||
Gates Industrial Corp PLC * | 886 | 7 | ||||||
GATX | 603 | 38 | ||||||
Generac Holdings * | 496 | 46 | ||||||
General Electric Co | 121,638 | 966 | ||||||
Gibraltar Industries * | 959 | 41 | ||||||
Graco Inc | 223 | 11 | ||||||
GrafTech International Ltd | 954 | 8 | ||||||
Granite Construction | 1,780 | 27 | ||||||
Great Lakes Dredge & Dock * | 4,289 | 36 | ||||||
Greenbrier | 1,583 | 28 | ||||||
Hawaiian Holdings | 1,619 | 17 | ||||||
HD Supply Holdings Inc * | 1,986 | 56 | ||||||
Healthcare Services Group | 2,050 | 49 | ||||||
Heartland Express | 2,380 | 44 | ||||||
HEICO Corp | 4,884 | 364 | ||||||
HEICO Corp, Cl A | 4,197 | 268 | ||||||
Helios Technologies | 1,091 | 41 | ||||||
Herc Holdings * | 1,012 | 21 | ||||||
Herman Miller | 1,053 | 23 | ||||||
Hexcel Corp | 4,105 | 153 | ||||||
Hillenbrand | 1,501 | 29 | ||||||
HNI | 1,268 | 32 | ||||||
Honeywell International Inc | 10,659 | 1,426 | ||||||
Hub Group, Cl A * | 976 | 44 | ||||||
Hubbell Inc, Cl B | 682 | 78 | ||||||
IAA * | 253 | 8 | ||||||
ICF International | 545 | 37 | ||||||
IDEX Corp | 68 | 9 | ||||||
IHS Markit Ltd | 3,910 | 235 | ||||||
Illinois Tool Works Inc | 10,512 | 1,494 | ||||||
Ingersoll Rand * | 6,701 | 166 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Insperity | 592 | $ | 22 | |||||
Interface, Cl A | 2,949 | 22 | ||||||
ITT Inc | 1,404 | 64 | ||||||
Jacobs Engineering Group Inc | 1,091 | 86 | ||||||
JB Hunt Transport Services | 437 | 40 | ||||||
JetBlue Airways Corp * | 4,688 | 42 | ||||||
John Bean Technologies | 439 | 33 | ||||||
Johnson Controls International plc | 22,116 | 596 | ||||||
Kadant | 475 | 35 | ||||||
Kaman | 743 | 29 | ||||||
Kansas City Southern | 1,741 | 221 | ||||||
KAR Auction Services | 2,303 | 28 | ||||||
Kelly Services, Cl A | 2,214 | 28 | ||||||
Kennametal | 1,343 | 25 | ||||||
Kforce | 1,239 | 32 | ||||||
Kimball International, Cl B | 2,422 | 29 | ||||||
Kirby Corp * | 1,032 | 45 | ||||||
Knight-Swift Transportation Holdings, Cl A | 1,357 | 45 | ||||||
Knoll | 1,853 | 19 | ||||||
Korn Ferry | 1,193 | 29 | ||||||
Landstar System Inc | 432 | 41 | ||||||
Lennox International Inc | 44 | 8 | ||||||
Lincoln Electric Holdings Inc | 1,027 | 71 | ||||||
Lindsay | 523 | 48 | ||||||
Lyft Inc, Cl A * | 240 | 6 | ||||||
Macquarie Infrastructure Corp | 266 | 7 | ||||||
ManpowerGroup Inc | 3,586 | 190 | ||||||
Marten Transport | 2,313 | 47 | ||||||
Masco Corp | 6,315 | 218 | ||||||
MasTec * | 795 | 26 | ||||||
Matson | 1,273 | 39 | ||||||
Maxar Technologies | 3,949 | 42 | ||||||
McGrath RentCorp | 666 | 35 | ||||||
Mercury Systems * | 708 | 51 | ||||||
Meritor * | 2,088 | 28 | ||||||
Middleby Corp/The * | 103 | 6 | ||||||
Mobile Mini | 1,315 | 34 | ||||||
Moog, Cl A | 580 | 29 | ||||||
MRC Global * | 3,597 | 15 | ||||||
MSA Safety | 392 | 40 | ||||||
MSC Industrial Direct Co Inc, Cl A | 1,115 | 61 | ||||||
Nielsen Holdings PLC | 7,584 | 95 | ||||||
Nordson Corp | 600 | 81 | ||||||
Norfolk Southern Corp | 3,218 | 470 | ||||||
NOW * | 4,359 | 22 | ||||||
NV5 Global * | 1,080 | 45 | ||||||
nVent Electric PLC | 457 | 8 | ||||||
Old Dominion Freight Line | 401 | 53 | ||||||
Omega Flex | 448 | 38 | ||||||
Oshkosh Corp | 2,762 | 178 | ||||||
Owens Corning | 4,958 | 192 | ||||||
PACCAR Inc | 2,134 | 130 |
New Covenant Funds/ Quarterly Report / March 31, 2020 | 11 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Parker-Hannifin Corp | 1,231 | $ | 160 | |||||
Parsons * | 1,198 | 38 | ||||||
Pentair PLC | 4,928 | 147 | ||||||
Pitney Bowes | 11,792 | 24 | ||||||
Proto Labs * | 491 | 37 | ||||||
Quanex Building Products | 2,637 | 27 | ||||||
Quanta Services Inc | 2,291 | 73 | ||||||
Raven Industries | 1,437 | 31 | ||||||
RBC Bearings * | 320 | 36 | ||||||
Regal Beloit Corp | 1,068 | 67 | ||||||
Republic Services Inc, Cl A | 1,046 | 79 | ||||||
Resideo Technologies Inc * | 448 | 2 | ||||||
Rexnord | 1,539 | 35 | ||||||
Robert Half International | 806 | 30 | ||||||
Rockwell Automation Inc | 1,620 | 244 | ||||||
Rollins Inc | 2,355 | 85 | ||||||
Roper Technologies Inc | 965 | 301 | ||||||
RR Donnelley & Sons | 12,049 | 12 | ||||||
Ryder System Inc | 1,425 | 38 | ||||||
Saia * | 547 | 40 | ||||||
Schneider National Inc, Cl B | 521 | 10 | ||||||
Sensata Technologies Holding PLC * | 4,273 | 124 | ||||||
Simpson Manufacturing | 643 | 40 | ||||||
Snap-on | 318 | 35 | ||||||
Southwest Airlines Co | 3,131 | 111 | ||||||
SP Plus * | 1,169 | 24 | ||||||
Spartan Motors | 2,836 | 37 | ||||||
Spirit AeroSystems Holdings Inc, Cl A | 9,098 | 218 | ||||||
Spirit Airlines * | 1,221 | 16 | ||||||
SPX * | 999 | 33 | ||||||
SPX FLOW * | 1,044 | 30 | ||||||
Stanley Black & Decker Inc | 1,349 | 135 | ||||||
Steelcase, Cl A | 2,620 | 26 | ||||||
Stericycle Inc * | 179 | 9 | ||||||
Teledyne Technologies Inc * | 878 | 261 | ||||||
Tennant | 639 | 37 | ||||||
Terex | 1,651 | 24 | ||||||
Tetra Tech | 564 | 40 | ||||||
Timken Co/The | 204 | 7 | ||||||
Toro Co/The | 1,175 | 76 | ||||||
TPI Composites * | 472 | 7 | ||||||
Trane Technologies | 7,234 | 597 | ||||||
TransDigm Group Inc | 1,732 | 555 | ||||||
TransUnion | 2,713 | 180 | ||||||
Trex * | 567 | 45 | ||||||
TriMas * | 1,583 | 37 | ||||||
TriNet Group * | 898 | 34 | ||||||
Trinity Industries Inc | 511 | 8 | ||||||
Triumph Group | 1,853 | 13 | ||||||
TrueBlue * | 2,106 | 27 | ||||||
Uber Technologies * | 7,679 | 214 | ||||||
UniFirst | 235 | 35 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Union Pacific Corp | 12,488 | $ | 1,761 | |||||
United Airlines Holdings Inc * | 2,850 | 90 | ||||||
United Parcel Service Inc, Cl B | 9,414 | 879 | ||||||
United Rentals Inc * | 1,692 | 174 | ||||||
Univar Inc * | 476 | 5 | ||||||
Universal Forest Products | 1,033 | 38 | ||||||
US Ecology | 900 | 27 | ||||||
Valmont Industries Inc | 76 | 8 | ||||||
Vectrus * | 984 | 41 | ||||||
Verisk Analytics Inc, Cl A | 1,729 | 241 | ||||||
Viad | 737 | 16 | ||||||
Wabash National | 3,217 | 23 | ||||||
WABCO Holdings Inc * | 649 | 88 | ||||||
Wabtec Corp | 465 | 22 | ||||||
Waste Management Inc | 6,467 | 599 | ||||||
Watsco Inc | 537 | 85 | ||||||
Watts Water Technologies, Cl A | 507 | 43 | ||||||
Welbilt * | 3,137 | 16 | ||||||
Werner Enterprises | 1,360 | 49 | ||||||
WESCO International Inc * | 3,527 | 81 | ||||||
Woodward Inc | 769 | 46 | ||||||
WW Grainger Inc | 4,496 | 1,117 | ||||||
XPO Logistics Inc * | 1,396 | 68 | ||||||
Xylem Inc/NY | 16,416 | 1,069 | ||||||
|
|
| ||||||
30,910 | ||||||||
|
|
| ||||||
Information Technology — 23.4% | ||||||||
2U Inc * | 2,061 | 44 | ||||||
8x8 * | 2,725 | 38 | ||||||
Acacia Communications * | 744 | 50 | ||||||
ACI Worldwide * | 1,373 | 33 | ||||||
Adobe Inc * | 9,813 | 3,123 | ||||||
ADTRAN | 5,303 | 41 | ||||||
Advanced Energy Industries * | 725 | 35 | ||||||
Advanced Micro Devices Inc * | 11,869 | 540 | ||||||
Agilysys * | 323 | 5 | ||||||
Akamai Technologies Inc * | 7,949 | 727 | ||||||
Akoustis Technologies * | 6,091 | 33 | ||||||
Alarm.com Holdings * | 1,192 | 46 | ||||||
Alliance Data Systems Corp | 1,335 | 45 | ||||||
Altair Engineering, Cl A * | 1,454 | 39 | ||||||
Alteryx Inc, Cl A * | 118 | 11 | ||||||
Ambarella * | 160 | 8 | ||||||
Amdocs Ltd | 3,632 | 200 | ||||||
Amkor Technology * | 3,864 | 30 | ||||||
Amphenol Corp, Cl A | 2,090 | 152 | ||||||
Analog Devices Inc | 4,564 | 409 | ||||||
Anaplan Inc * | 217 | 7 | ||||||
Anixter International * | 561 | 49 | ||||||
ANSYS Inc * | 683 | 159 | ||||||
Appian, Cl A * | 1,246 | 50 | ||||||
Apple Inc | 64,856 | 16,492 |
12 | New Covenant Funds/ Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Applied Materials Inc | 10,761 | $ | 493 | |||||
Applied Optoelectronics * | 4,449 | 34 | ||||||
Arista Networks Inc * | 768 | 156 | ||||||
Arlo Technologies * | 11,738 | 29 | ||||||
Arrow Electronics Inc * | 2,550 | 132 | ||||||
Aspen Technology * | 413 | 39 | ||||||
Atlassian Corp PLC, Cl A * | 665 | 91 | ||||||
Autodesk Inc * | 3,559 | 556 | ||||||
Automatic Data Processing Inc | 12,646 | 1,728 | ||||||
Avaya Holdings * | 4,140 | 33 | ||||||
Avnet Inc | 1,892 | 47 | ||||||
Axcelis Technologies * | 2,104 | 39 | ||||||
Badger Meter | 775 | 42 | ||||||
Belden | 900 | 32 | ||||||
Benchmark Electronics | 1,447 | 29 | ||||||
Black Knight Inc * | 1,569 | 91 | ||||||
Blackbaud | 629 | 35 | ||||||
Blackline * | 185 | 10 | ||||||
Booz Allen Hamilton Holding Corp, Cl A | 1,402 | 96 | ||||||
Bottomline Technologies DE * | 943 | 35 | ||||||
Box, Cl A * | 2,984 | 42 | ||||||
Broadcom Inc | 6,023 | 1,428 | ||||||
Broadridge Financial Solutions Inc | 720 | 68 | ||||||
Brooks Automation | 1,150 | 35 | ||||||
Cabot Microelectronics | 373 | 43 | ||||||
Cadence Design Systems Inc * | 2,046 | 135 | ||||||
Cardtronics * | 1,198 | 25 | ||||||
Cass Information Systems | 865 | 30 | ||||||
CDK Global Inc | 1,636 | 54 | ||||||
CDW Corp/DE | 806 | 75 | ||||||
Cerence * | 493 | 8 | ||||||
Ceridian HCM Holding * | 792 | 40 | ||||||
Ciena * | 1,223 | 49 | ||||||
Cirrus Logic * | 640 | 42 | ||||||
Cisco Systems Inc | 68,588 | 2,696 | ||||||
Citrix Systems Inc | 1,980 | 280 | ||||||
Cloudera * | 4,481 | 35 | ||||||
Cognex Corp | 203 | 9 | ||||||
Cognizant Technology Solutions Corp, Cl A | 8,315 | 386 | ||||||
Coherent Inc * | 626 | 67 | ||||||
Cohu | 2,351 | 29 | ||||||
CommScope Holding Co Inc * | 7,086 | 65 | ||||||
CommVault Systems * | 1,095 | 44 | ||||||
Comtech Telecommunications | 1,417 | 19 | ||||||
CoreLogic Inc/United States | 271 | 8 | ||||||
Cornerstone OnDemand * | 862 | 27 | ||||||
Corning Inc | 6,104 | 125 | ||||||
Coupa Software Inc * | 81 | 11 | ||||||
Cree Inc * | 248 | 9 | ||||||
CSG Systems International | 965 | 40 | ||||||
CTS | 1,735 | 43 | ||||||
Cypress Semiconductor Corp | 488 | 11 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Dell Technologies Inc, Cl C * | 4,108 | $ | 162 | |||||
Diebold Nixdorf * | 4,695 | 17 | ||||||
Digi International * | 2,744 | 26 | ||||||
Digital Turbine * | 6,346 | 27 | ||||||
DocuSign Inc, Cl A * | 1,618 | 149 | ||||||
Dolby Laboratories, Cl A | 731 | 40 | ||||||
Dropbox, Cl A * | 2,914 | 53 | ||||||
DXC Technology Co | 5,395 | 70 | ||||||
Dynatrace * | 465 | 11 | ||||||
Ebix | 1,517 | 23 | ||||||
EchoStar, Cl A * | 1,124 | 36 | ||||||
Elastic NV * | 183 | 10 | ||||||
Enphase Energy * | 282 | 9 | ||||||
Entegris | 980 | 44 | ||||||
Envestnet * | 717 | 39 | ||||||
EPAM Systems Inc * | 1,434 | 266 | ||||||
ePlus * | 592 | 37 | ||||||
Euronet Worldwide Inc * | 74 | 6 | ||||||
Everbridge * | 639 | 68 | ||||||
EVERTEC | 1,569 | 36 | ||||||
ExlService Holdings * | 711 | 37 | ||||||
Extreme Networks * | 6,878 | 21 | ||||||
F5 Networks Inc * | 578 | 62 | ||||||
Fair Isaac Corp * | 299 | 92 | ||||||
Fidelity National Information Services Inc | 7,874 | 958 | ||||||
FireEye Inc * | 5,502 | 58 | ||||||
First Solar Inc * | 3,538 | 128 | ||||||
Fiserv Inc * | 6,758 | 642 | ||||||
Fitbit, Cl A * | 7,553 | 50 | ||||||
Five9 * | 751 | 57 | ||||||
FleetCor Technologies Inc * | 729 | 136 | ||||||
FLIR Systems Inc | 1,671 | 53 | ||||||
ForeScout Technologies * | 1,454 | 46 | ||||||
FormFactor * | 1,939 | 39 | ||||||
Fortinet Inc * | 566 | 57 | ||||||
Genpact Ltd | 6,870 | 201 | ||||||
Global Payments Inc | 3,359 | 484 | ||||||
GoDaddy Inc, Cl A * | 1,102 | 63 | ||||||
Guidewire Software Inc * | 109 | 9 | ||||||
Hackett Group | 3,129 | 40 | ||||||
HubSpot * | 322 | 43 | ||||||
IAC/InterActiveCorp * | 376 | 67 | ||||||
Ichor Holdings * | 1,480 | 28 | ||||||
II-VI * | 1,509 | 43 | ||||||
Infinera * | 6,579 | 35 | ||||||
Inphi * | 680 | 54 | ||||||
Inseego * | 7,132 | 44 | ||||||
Insight Enterprises * | 754 | 32 | ||||||
Intel Corp | 67,438 | 3,650 | ||||||
Intelligent Systems * | 1,128 | 38 | ||||||
InterDigital | 917 | 41 | ||||||
International Business Machines Corp | 13,123 | 1,456 |
New Covenant Funds/ Quarterly Report / March 31, 2020 | 13 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Intuit Inc | 3,714 | $ | 854 | |||||
IPG Photonics Corp * | 558 | 62 | ||||||
Itron * | 588 | 33 | ||||||
j2 Global | 540 | 40 | ||||||
Jabil Inc | 6,948 | 171 | ||||||
Jack Henry & Associates Inc | 636 | 99 | ||||||
Juniper Networks Inc | 7,826 | 150 | ||||||
KBR | 1,640 | 34 | ||||||
KEMET | 1,871 | 45 | ||||||
Keysight Technologies Inc * | 12,701 | 1,063 | ||||||
KLA-Tencor Corp | 1,904 | 274 | ||||||
Knowles * | 2,314 | 31 | ||||||
Lam Research Corp | 3,493 | 838 | ||||||
Lattice Semiconductor * | 2,475 | 44 | ||||||
Littelfuse Inc | 60 | 8 | ||||||
LivePerson * | 1,299 | 30 | ||||||
LogMeIn Inc | 1,076 | 90 | ||||||
Lumentum Holdings * | 660 | 49 | ||||||
Manhattan Associates Inc * | 1,278 | 64 | ||||||
Marvell Technology Group Ltd | 3,312 | 75 | ||||||
Mastercard Inc, Cl A | 13,112 | 3,167 | ||||||
Maxim Integrated Products Inc | 3,740 | 182 | ||||||
MAXIMUS | 682 | 40 | ||||||
Medallia * | 1,562 | 31 | ||||||
Microchip Technology Inc | 1,615 | 109 | ||||||
Micron Technology Inc * | 13,124 | 552 | ||||||
Microsoft Corp | 112,888 | 17,804 | ||||||
MicroStrategy, Cl A * | 339 | 40 | ||||||
Mitek Systems * | 6,887 | 54 | ||||||
MKS Instruments Inc | 103 | 8 | ||||||
Model N * | 1,438 | 32 | ||||||
MongoDB Inc, Cl A * | 574 | 78 | ||||||
Monolithic Power Systems Inc | 64 | 11 | ||||||
MTS Systems | 1,057 | 24 | ||||||
National Instruments Corp | 2,353 | 78 | ||||||
NCR Corp * | 334 | 6 | ||||||
NetApp Inc | 2,936 | 122 | ||||||
NetScout Systems * | 2,073 | 49 | ||||||
New Relic * | 749 | 35 | ||||||
NIC | 2,268 | 52 | ||||||
Novanta * | 547 | 44 | ||||||
Nuance Communications * | 2,832 | 48 | ||||||
Nutanix Inc, Cl A * | 359 | 6 | ||||||
NVIDIA Corp | 9,892 | 2,608 | ||||||
Okta Inc, Cl A * | 812 | 99 | ||||||
ON Semiconductor Corp * | 9,649 | 120 | ||||||
Oracle Corp | 34,708 | 1,677 | ||||||
OSI Systems * | 497 | 34 | ||||||
Pagerduty Inc * | 1,821 | 31 | ||||||
Palo Alto Networks Inc * | 541 | 89 | ||||||
Paychex Inc | 2,612 | 164 | ||||||
Paycom Software * | 194 | 39 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Paylocity Holding * | 417 | $ | 37 | |||||
PayPal Holdings Inc * | 18,658 | 1,786 | ||||||
Paysign * | 4,721 | 24 | ||||||
Pegasystems Inc | 150 | 11 | ||||||
Perficient * | 1,142 | 31 | ||||||
Perspecta | 1,895 | 35 | ||||||
Photronics * | 3,197 | 33 | ||||||
Plantronics | 1,930 | 19 | ||||||
Plexus * | 633 | 35 | ||||||
Pluralsight Inc, Cl A * | 2,621 | 29 | ||||||
Power Integrations | 531 | 47 | ||||||
Progress Software | 1,206 | 39 | ||||||
Proofpoint Inc * | 98 | 10 | ||||||
PROS Holdings * | 818 | 25 | ||||||
PTC * | 677 | 41 | ||||||
Pure Storage Inc, Cl A * | 685 | 8 | ||||||
Q2 Holdings * | 633 | 37 | ||||||
Qorvo Inc * | 100 | 8 | ||||||
QUALCOMM Inc | 17,833 | 1,206 | ||||||
Qualys * | 591 | 51 | ||||||
Rambus * | 3,633 | 40 | ||||||
Rapid7 * | 892 | 39 | ||||||
RealPage Inc * | 211 | 11 | ||||||
RingCentral Inc, Cl A * | 699 | 148 | ||||||
Rogers * | 392 | 37 | ||||||
Sabre Corp | 506 | 3 | ||||||
SailPoint Technologies Holding * | 2,129 | 32 | ||||||
salesforce.com * | 17,861 | 2,572 | ||||||
Sanmina * | 1,459 | 40 | ||||||
ScanSource * | 1,292 | 28 | ||||||
SecureWorks, Cl A * | 3,538 | 41 | ||||||
Semtech * | 1,000 | 37 | ||||||
ServiceNow Inc * | 2,213 | 634 | ||||||
Silicon Laboratories * | 437 | 37 | ||||||
Skyworks Solutions Inc | 2,779 | 248 | ||||||
Smartsheet Inc, Cl A * | 266 | 11 | ||||||
SolarWinds Corp * | 634 | 10 | ||||||
Splunk Inc * | 1,095 | 138 | ||||||
SPS Commerce * | 882 | 41 | ||||||
Square Inc, Cl A * | 2,537 | 133 | ||||||
SS&C Technologies Holdings | 831 | 36 | ||||||
Switch Inc, Cl A | 779 | 11 | ||||||
Synaptics * | 142 | 8 | ||||||
SYNNEX | 387 | 28 | ||||||
Synopsys Inc * | 1,083 | 139 | ||||||
Tech Data * | 348 | 45 | ||||||
Teradata Corp * | 4,437 | 91 | ||||||
Teradyne Inc | 4,784 | 259 | ||||||
Texas Instruments Inc | 13,483 | 1,347 | ||||||
Trade Desk Inc/The, Cl A * | 376 | 73 | ||||||
Trimble Inc * | 2,035 | 65 | ||||||
TTEC Holdings | 1,378 | 51 |
14 | New Covenant Funds/ Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
TTM Technologies * | 3,357 | $ | 35 | |||||
Tucows, Cl A * | 834 | 40 | ||||||
Twilio Inc, Cl A * | 639 | 57 | ||||||
Tyler Technologies Inc * | 393 | 117 | ||||||
Ubiquiti | 263 | 37 | ||||||
Unisys * | 689 | 9 | ||||||
Universal Display Corp | 521 | 69 | ||||||
Upland Software * | 1,378 | 37 | ||||||
Varonis Systems * | 653 | 42 | ||||||
Verint Systems * | 947 | 41 | ||||||
VeriSign Inc * | 802 | 144 | ||||||
Verra Mobility, Cl A * | 3,479 | 25 | ||||||
ViaSat * | 693 | 25 | ||||||
Viavi Solutions * | 3,355 | 38 | ||||||
Virtusa * | 1,123 | 32 | ||||||
Visa Inc, Cl A | 29,770 | 4,797 | ||||||
VMware Inc, Cl A * | 1,343 | 163 | ||||||
Western Digital Corp | 2,423 | 101 | ||||||
Western Union Co/The | 425 | 8 | ||||||
WEX Inc * | 55 | 6 | ||||||
Workday Inc, Cl A * | 2,079 | 271 | ||||||
Workiva, Cl A * | 1,224 | 40 | ||||||
Xerox Holdings | 7,073 | 134 | ||||||
Xilinx Inc | 2,632 | 205 | ||||||
Xperi | 2,351 | 33 | ||||||
Zebra Technologies Corp, Cl A * | 438 | 80 | ||||||
Zendesk Inc * | 152 | 10 | ||||||
Zscaler Inc * | 193 | 12 | ||||||
Zuora, Cl A * | 3,498 | 28 | ||||||
|
|
| ||||||
90,052 | ||||||||
|
|
| ||||||
Materials — 2.9% | ||||||||
AdvanSix * | 2,397 | 23 | ||||||
Air Products & Chemicals Inc | 4,688 | 936 | ||||||
Albemarle Corp | 167 | 9 | ||||||
Alcoa Corp * | 5,657 | 35 | ||||||
Allegheny Technologies * | 2,362 | 20 | ||||||
AptarGroup Inc | 1,944 | 194 | ||||||
Ashland Global Holdings Inc | 152 | 8 | ||||||
Avery Dennison Corp | 88 | 9 | ||||||
Axalta Coating Systems Ltd * | 7,963 | 138 | ||||||
Balchem | 488 | 48 | ||||||
Ball Corp | 14,154 | 915 | ||||||
Berry Global Group Inc * | 4,123 | 139 | ||||||
Cabot Corp | 238 | 6 | ||||||
Carpenter Technology | 1,006 | 20 | ||||||
Celanese Corp, Cl A | 93 | 7 | ||||||
CF Industries Holdings | 1,066 | 29 | ||||||
Chase | 421 | 35 | ||||||
Chemours | 2,832 | 25 | ||||||
Cleveland-Cliffs | 11,888 | 47 | ||||||
Coeur Mining * | 6,945 | 22 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Commercial Metals | 2,280 | $ | 36 | |||||
Compass Minerals International | 851 | 33 | ||||||
Corteva Inc | 4,112 | 97 | ||||||
Crown Holdings Inc * | 6,925 | 402 | ||||||
Domtar Corp | 298 | 6 | ||||||
Dow Inc | 6,685 | 195 | ||||||
DuPont de Nemours Inc | 7,322 | 250 | ||||||
Eagle Materials Inc | 126 | 7 | ||||||
Eastman Chemical Co | 9,101 | 424 | ||||||
Ecolab Inc | 3,153 | 491 | ||||||
Element Solutions Inc * | 1,023 | 9 | ||||||
FMC Corp | 2,400 | 196 | ||||||
Freeport-McMoRan Inc | 31,087 | 210 | ||||||
GCP Applied Technologies * | 2,199 | 39 | ||||||
Graphic Packaging Holding Co | 681 | 8 | ||||||
Greif, Cl A | 1,122 | 35 | ||||||
HB Fuller | 976 | 27 | ||||||
Huntsman Corp | 475 | 7 | ||||||
Ingevity * | 563 | 20 | ||||||
Innospec | 499 | 35 | ||||||
International Flavors & Fragrances Inc | 2,307 | 236 | ||||||
International Paper Co | 785 | 24 | ||||||
Kraton * | 2,033 | 16 | ||||||
Linde PLC | 7,642 | 1,322 | ||||||
Livent * | 5,807 | 31 | ||||||
Louisiana-Pacific | 1,740 | 30 | ||||||
LyondellBasell Industries NV, Cl A | 2,182 | 108 | ||||||
Martin Marietta Materials Inc | 397 | 75 | ||||||
Minerals Technologies | 880 | 32 | ||||||
Mosaic Co/The | 3,590 | 39 | ||||||
Neenah | 693 | 30 | ||||||
NewMarket | 102 | 39 | ||||||
Newmont Goldcorp Corp | 29,273 | 1,325 | ||||||
Novagold Resources * | 6,675 | 49 | ||||||
Nucor Corp | 1,510 | 54 | ||||||
Packaging Corp of America | 101 | 9 | ||||||
PH Glatfelter | 2,740 | 34 | ||||||
PPG Industries Inc | 2,274 | 190 | ||||||
Quaker Chemical | 309 | 39 | ||||||
Reliance Steel & Aluminum Co | 412 | 36 | ||||||
Royal Gold | 437 | 38 | ||||||
RPM International | 664 | 40 | ||||||
ScottsMiracle-Gro | 482 | 49 | ||||||
Sealed Air Corp | 293 | 7 | ||||||
Sensient Technologies | 779 | 34 | ||||||
Sherwin-Williams Co/The | 2,451 | 1,126 | ||||||
Silgan Holdings | 1,635 | 47 | ||||||
Sonoco Products Co | 185 | 9 | ||||||
Southern Copper Corp | 272 | 8 | ||||||
Steel Dynamics Inc | 2,648 | 60 | ||||||
Stepan | 510 | 45 | ||||||
Summit Materials, Cl A * | 2,136 | 32 |
New Covenant Funds/ Quarterly Report / March 31, 2020 | 15 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Trinseo | 1,345 | $ | 24 | |||||
Tronox Holdings | 4,385 | 22 | ||||||
United States Lime & Minerals | 581 | 43 | ||||||
United States Steel | 3,709 | 23 | ||||||
Valvoline Inc | 11,216 | 147 | ||||||
Verso * | 2,760 | 31 | ||||||
Vulcan Materials Co | 665 | 72 | ||||||
Warrior Met Coal | 2,378 | 25 | ||||||
Westlake Chemical | 718 | 27 | ||||||
Westrock Co | 3,989 | 113 | ||||||
Worthington Industries | 1,149 | 30 | ||||||
WR Grace | 733 | 26 | ||||||
|
|
| ||||||
10,988 | ||||||||
|
|
| ||||||
Real Estate — 3.9% | ||||||||
Acadia Realty Trust | 1,946 | 24 | ||||||
Agree Realty | 736 | 46 | ||||||
Alexander & Baldwin | 2,342 | 26 | ||||||
Alexandria Real Estate Equities Inc ‡ | 1,497 | 205 | ||||||
American Assets Trust | 1,128 | 28 | ||||||
American Campus Communities Inc ‡ | 252 | 7 | ||||||
American Finance Trust | 3,743 | 23 | ||||||
American Tower Corp, Cl A ‡ | 6,167 | 1,343 | ||||||
Americold Realty Trust | 346 | 12 | ||||||
Apartment Investment & Management Co, Cl A‡ | 1,721 | 61 | ||||||
Apple Hospitality REIT Inc ‡ | 718 | 7 | ||||||
AvalonBay Communities Inc ‡ | 3,261 | 480 | ||||||
Boston Properties Inc ‡ | 1,468 | 135 | ||||||
Brandywine Realty Trust ‡ | 14,492 | 152 | ||||||
Brixmor Property Group Inc ‡ | 4,703 | 45 | ||||||
Brookfield Property REIT Inc, Cl A ‡ | 622 | 5 | ||||||
Camden Property Trust ‡ | 850 | 67 | ||||||
CareTrust REIT | 2,438 | 36 | ||||||
CBRE Group Inc, Cl A * | 29,020 | 1,094 | ||||||
Colony Capital Inc ‡ | 41,643 | 73 | ||||||
Columbia Property Trust Inc ‡ | 565 | 7 | ||||||
Community Healthcare Trust | 1,136 | 44 | ||||||
CorEnergy Infrastructure Trust | 1,162 | 21 | ||||||
CorePoint Lodging | 4,605 | 18 | ||||||
Corporate Office Properties Trust ‡ | 7,752 | 172 | ||||||
Cousins Properties | 289 | 8 | ||||||
Crown Castle International Corp ‡ | 5,046 | 729 | ||||||
CubeSmart‡ | 377 | 10 | ||||||
Cushman & Wakefield * | 2,593 | 30 | ||||||
CyrusOne Inc ‡ | 181 | 11 | ||||||
DiamondRock Hospitality | 4,575 | 23 | ||||||
Digital Realty Trust Inc ‡ | 2,674 | 371 | ||||||
Diversified Healthcare Trust | 6,702 | 24 | ||||||
Douglas Emmett Inc ‡ | 2,338 | 71 | ||||||
Duke Realty Corp ‡ | 2,798 | 91 | ||||||
EastGroup Properties | 379 | 40 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Empire State Realty Trust Inc, Cl A ‡ | 5,592 | $ | 50 | |||||
EPR Properties | 735 | 18 | ||||||
Equinix Inc ‡ | 963 | 601 | ||||||
Equity Commonwealth ‡ | 2,677 | 85 | ||||||
Equity LifeStyle Properties Inc ‡ | 167 | 10 | ||||||
Equity Residential ‡ | 3,485 | 215 | ||||||
Essential Properties Realty Trust | 2,028 | 27 | ||||||
Essex Property Trust Inc ‡ | 454 | 100 | ||||||
Extra Space Storage Inc ‡ | 811 | 78 | ||||||
Federal Realty Investment Trust ‡ | 664 | 50 | ||||||
First Industrial Realty Trust | 1,226 | 41 | ||||||
Four Corners Property Trust | 1,848 | 35 | ||||||
Franklin Street Properties | 5,897 | 34 | ||||||
Gaming and Leisure Properties Inc ‡ | 275 | 8 | ||||||
Global Net Lease | 2,484 | 33 | ||||||
Hannon Armstrong Sustainable Infrastructure Capital | 30,657 | 626 | ||||||
Healthcare Realty Trust | 1,555 | 43 | ||||||
Healthcare Trust of America Inc, Cl A ‡ | 392 | 10 | ||||||
Hersha Hospitality Trust, Cl A | 3,513 | 13 | ||||||
Highwoods Properties Inc ‡ | 247 | 9 | ||||||
Host Hotels & Resorts Inc ‡ | 17,568 | 194 | ||||||
Howard Hughes Corp/The * | 795 | 40 | ||||||
Hudson Pacific Properties Inc ‡ | 2,475 | 63 | ||||||
Independence Realty Trust | 3,625 | 32 | ||||||
Industrial Logistics Properties Trust | 2,389 | 42 | ||||||
Invitation Homes | 398 | 9 | ||||||
Iron Mountain Inc ‡ | 5,996 | 143 | ||||||
JBG SMITH Properties ‡ | 2,065 | 66 | ||||||
Jones Lang LaSalle Inc | 1,270 | 128 | ||||||
Kennedy-Wilson Holdings | 2,254 | 30 | ||||||
Kilroy Realty Corp ‡ | 4,516 | 288 | ||||||
Kimco Realty Corp ‡ | 4,679 | 45 | ||||||
Kite Realty Group Trust | 2,741 | 26 | ||||||
Lamar Advertising Co, Cl A ‡ | 1,059 | 54 | ||||||
Lexington Realty Trust, Cl B | 4,761 | 47 | ||||||
Life Storage Inc ‡ | 110 | 10 | ||||||
LTC Properties | 1,142 | 35 | ||||||
Macerich Co/The ‡ | 5,238 | 30 | ||||||
Marcus & Millichap * | 1,380 | 37 | ||||||
Medical Properties Trust | 2,513 | 43 | ||||||
Mid-America Apartment Communities Inc ‡ | 772 | 80 | ||||||
Monmouth Real Estate Investment | 3,365 | 41 | ||||||
National Health Investors | 635 | 31 | ||||||
National Retail Properties | 975 | 31 | ||||||
National Storage Affiliates Trust | 1,534 | 45 | ||||||
Newmark Group, Cl A | 3,753 | 16 | ||||||
Office Properties Income Trust | 1,618 | 44 | ||||||
Omega Healthcare Investors | 1,229 | 33 | ||||||
Outfront Media | 1,951 | 26 | ||||||
Paramount Group Inc ‡ | 5,922 | 52 | ||||||
Park Hotels & Resorts | 1,996 | 16 |
16 | New Covenant Funds/ Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Pebblebrook Hotel Trust | 1,899 | $ | 21 | |||||
Physicians Realty Trust | 2,753 | 38 | ||||||
Piedmont Office Realty Trust, Cl A | 2,333 | 41 | ||||||
PotlatchDeltic | 1,174 | 37 | ||||||
Prologis Inc ‡ | 20,608 | 1,656 | ||||||
Public Storage ‡ | 1,626 | 323 | ||||||
QTS Realty Trust, Cl A | 981 | 57 | ||||||
Rayonier | 1,593 | 38 | ||||||
RE, Cl A | 1,292 | 28 | ||||||
Realogy Holdings | 4,621 | 14 | ||||||
Realty Income Corp ‡ | 2,296 | 114 | ||||||
Redfin * | 458 | 7 | ||||||
Regency Centers Corp ‡ | 25,806 | 992 | ||||||
Retail Opportunity Investments | 2,907 | 24 | ||||||
Retail Properties of America Inc, Cl A ‡ | 876 | 5 | ||||||
Rexford Industrial Realty | 1,114 | 46 | ||||||
RLJ Lodging Trust | 2,849 | 22 | ||||||
RMR Group, Cl A | 1,095 | 30 | ||||||
RPT Realty | 3,429 | 21 | ||||||
Ryman Hospitality Properties | 577 | 21 | ||||||
Sabra Health Care REIT | 2,410 | 26 | ||||||
Safehold | 226 | 14 | ||||||
SBA Communications Corp, Cl A ‡ | 994 | 268 | ||||||
Service Properties Trust | 483 | 3 | ||||||
Simon Property Group Inc ‡ | 3,706 | 203 | ||||||
SITE Centers | 3,734 | 19 | ||||||
SL Green Realty Corp ‡ | 2,476 | 107 | ||||||
Spirit Realty Capital | 237 | 6 | ||||||
St. Joe * | 2,464 | 41 | ||||||
STAG Industrial | 1,647 | 37 | ||||||
STORE Capital Corp ‡ | 2,555 | 46 | ||||||
Summit Hotel Properties | 4,173 | 18 | ||||||
Sunstone Hotel Investors | 3,516 | 31 | ||||||
Tanger Factory Outlet Centers | 3,357 | 17 | ||||||
Taubman Centers Inc ‡ | 1,690 | 71 | ||||||
Terreno Realty | 941 | 49 | ||||||
UDR Inc ‡ | 250 | 9 | ||||||
Uniti Group | 6,587 | 40 | ||||||
Universal Health Realty Income Trust | 439 | 44 | ||||||
Urban Edge Properties | 2,679 | 24 | ||||||
Urstadt Biddle Properties, Cl A | 2,126 | 30 | ||||||
Ventas Inc ‡ | 3,279 | 88 | ||||||
VEREIT Inc ‡ | 10,217 | 50 | ||||||
VICI Properties | 2,012 | 33 | ||||||
Vornado Realty Trust ‡ | 2,903 | 105 | ||||||
Washington Real Estate Investment Trust | 1,705 | 41 | ||||||
Weingarten Realty Investors ‡ | 2,933 | 42 | ||||||
Welltower Inc ‡ | 4,270 | 195 | ||||||
Weyerhaeuser Co ‡ | 17,005 | 288 | ||||||
Whitestone REIT, Cl B | 3,773 | 23 | ||||||
WP Carey Inc ‡ | 149 | 9 |
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Xenia Hotels & Resorts | 2,347 | $ | 24 | |||||
|
|
| ||||||
14,938 | ||||||||
|
|
| ||||||
Utilities — 3.3% | ||||||||
AES Corp/VA | 5,282 | 72 | ||||||
ALLETE | 620 | 38 | ||||||
Alliant Energy Corp | 213 | 10 | ||||||
Ameren Corp | 1,172 | 85 | ||||||
American Electric Power Co Inc | 5,930 | 474 | ||||||
American States Water | 580 | 47 | ||||||
American Water Works Co Inc | 2,717 | 325 | ||||||
Atmos Energy | 461 | 46 | ||||||
Avangrid Inc | 1,720 | 75 | ||||||
Black Hills | 641 | 41 | ||||||
California Water Service Group | 978 | 49 | ||||||
CenterPoint Energy Inc | 434 | 7 | ||||||
Clearway Energy, Cl C | 2,583 | 49 | ||||||
CMS Energy Corp | 20,708 | 1,217 | ||||||
Consolidated Edison Inc | 3,086 | 241 | ||||||
Dominion Energy Inc | 9,854 | 711 | ||||||
DTE Energy Co | 9,809 | 932 | ||||||
Duke Energy Corp | 9,540 | 772 | ||||||
Edison International | 3,288 | 180 | ||||||
El Paso Electric | 742 | 50 | ||||||
Entergy Corp | 2,276 | 214 | ||||||
Essential Utilities | 331 | 13 | ||||||
Evergy Inc | 180 | 10 | ||||||
Eversource Energy | 10,983 | 859 | ||||||
Exelon Corp | 11,090 | 408 | ||||||
FirstEnergy Corp | 4,900 | 196 | ||||||
Hawaiian Electric Industries Inc | 249 | 11 | ||||||
IDACORP | 108 | 9 | ||||||
MDU Resources Group Inc | 386 | 8 | ||||||
MGE Energy | 631 | 41 | ||||||
Middlesex Water | 790 | 48 | ||||||
National Fuel Gas Co | 245 | 9 | ||||||
New Jersey Resources | 1,111 | 38 | ||||||
NextEra Energy Inc | 6,768 | 1,629 | ||||||
NiSource Inc | 419 | 10 | ||||||
Northwest Natural Holding | 699 | 43 | ||||||
NRG Energy Inc | 2,300 | 63 | ||||||
OGE Energy Corp | 261 | 8 | ||||||
ONE Gas | 534 | 45 | ||||||
Ormat Technologies | 644 | 44 | ||||||
PG&E Corp * | 692 | 6 | ||||||
Pinnacle West Capital Corp | 2,640 | 200 | ||||||
PNM Resources | 975 | 37 | ||||||
Portland General Electric | 894 | 43 | ||||||
PPL Corp | 7,025 | 173 | ||||||
Public Service Enterprise Group Inc | 5,257 | 236 | ||||||
Sempra Energy | 3,086 | 349 | ||||||
SJW Group | 716 | 41 |
New Covenant Funds/ Quarterly Report / March 31, 2020 | 17 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Growth Fund(Continued)
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
South Jersey Industries | 1,556 | $ | 39 | |||||
Southern Co/The | 13,370 | 724 | ||||||
Sunnova Energy International * | 717 | 7 | ||||||
UGI Corp | 253 | 7 | ||||||
Unitil | 794 | 42 | ||||||
Vistra Energy | 2,088 | 33 | ||||||
WEC Energy Group Inc | 2,560 | 226 | ||||||
Xcel Energy Inc | 21,147 | 1,275 | ||||||
|
| |||||||
12,565 | ||||||||
|
| |||||||
364,186 | ||||||||
|
|
Description | Shares | Market Value ($ Thousands) | ||||||
COMMON STOCK (continued) | ||||||||
Total Common Stock | $ | 369,276 | ||||||
|
| |||||||
CASH EQUIVALENT — 3.5% | ||||||||
SEI Daily Income Trust, Government Fund, Cl F | 13,508,624 | 13,509 | ||||||
|
| |||||||
Total Cash Equivalent |
| 13,509 | ||||||
|
| |||||||
Total Investments in Securities — 99.5% |
| $ | 382,785 | |||||
|
|
A list of the open futures held by the Fund at March 31, 2020 are as follows:
|
Type of Contract | Number of Contracts Long | Expiration Date | Notional Amount (Thousands) | Value (Thousands) | Unrealized Appreciation (Thousands) | |||||||||||||||
Russell 2000 IndexE-MINI | 30 | Jun-2020 | $ | 1,621 | $ | 1,722 | $ | 101 | ||||||||||||
S&P 500 IndexE-MINI | 101 | Jun-2020 | 12,402 | 12,977 | 575 | |||||||||||||||
|
| |||||||||||||||||||
$ | 14,023 | $ | 14,699 | $ | 676 | |||||||||||||||
|
|
The futures contracts are considered to have interest rate risk associated with them.
Percentages are based on Net Assets of $384,695 ($ Thousands). |
* | Non-income producing security. |
** | The rate reported is the7-day effective yield as of March 31, 2020. |
‡ | Real Estate Investment Trust. |
† | Investment in Affiliated Security. |
(A) | Security is a Master Limited Partnership. At March 31, 2020, such securities amounted to $55 ($ Thousands), or 0.0% of the net assets. |
Cl — Class
Ltd. — Limited
MSCI — Morgan Stanley Capital International
NASDAQ – National Association of Securities Dealers and Automated Quotations
PLC — Public Limited Company
REIT — Real Estate investment Trust
S&P— Standard & Poor’s
Investments in Securities | Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | ||||||||||||
Common Stock | 369,276 | – | – | 369,276 | ||||||||||||
Cash Equivalent | 13,509 | – | – | 13,509 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | 382,785 | – | – | 382,785 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments | Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | ||||||||||||
Futures Contracts* | ||||||||||||||||
Unrealized Appreciation | 676 | – | – | 676 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Other Financial Instruments | 676 | – | – | 676 | ||||||||||||
|
|
|
|
|
|
|
|
*Futures contracts are valued at the unrealized appreciation on the instrument.
For the period ended March 31, 2020, there were no transfers in or out of Level 3.
For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
The following is a summary of the transactions with affiliates for the period ended March 31, 2020 ($ Thousands):
Security Description | Value at 6/30/2019 | Purchases at Cost | Proceeds from Sales | Realized Gain/ (Loss) | Change in Unrealized Appreciation (Depreciation) | Value 3/31/2020 | Shares | Dividend Income | Capital Gains | |||||||||
SEI Daily Income Trust, Government Fund, Cl F | $ 8,829 | $ 70,407 | $ (65,727) | $ — | $ — | $ 13,509 | 13,508,624 | $ 88 | $ — | |||||||||
|
|
|
|
|
|
|
|
18 | New Covenant Funds/ Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
MORTGAGE-BACKED SECURITIES — 45.9% |
| |||||||
Agency Mortgage-Backed Obligations — 37.5% |
| |||||||
FHLMC | ||||||||
6.500%, 09/01/2039 | $ | 31 | $ | 36 | ||||
5.500%, 12/01/2036 to 12/01/2038 | 258 | 291 | ||||||
5.000%, 12/01/2020 to 01/01/2049 | 2,005 | 2,213 | ||||||
4.500%, 06/01/2038 to 03/25/2050 | 6,470 | 7,038 | ||||||
4.000%, 07/01/2037 to 03/01/2050 | 5,157 | 5,540 | ||||||
3.500%, 11/01/2042 to 03/01/2050 | 4,990 | 5,313 | ||||||
3.000%, 08/01/2046 to 03/01/2050 | 9,654 | 10,164 | ||||||
2.500%, 03/01/2033 | 1 | 1 | ||||||
FHLMC CMO, Ser 2011-3947, Cl SG, IO | ||||||||
5.245%, VAR LIBOR USD 1 Month+5.950%, 10/15/2041 | 238 | 38 | ||||||
FHLMC CMO, Ser 2012-4057, Cl UI, IO | ||||||||
3.000%, 05/15/2027 | 133 | 8 | ||||||
FHLMC CMO, Ser 2012-4085, Cl IO, IO | ||||||||
3.000%, 06/15/2027 | 278 | 15 | ||||||
FHLMC CMO, Ser 2012-4099, Cl ST, IO | ||||||||
5.295%, VAR LIBOR USD 1 Month+6.000%, 08/15/2042 | 116 | 19 | ||||||
FHLMC CMO, Ser 2013-4194, Cl BI, IO | ||||||||
3.500%, 04/15/2043 | 153 | 16 | ||||||
FHLMC CMO, Ser 2013-4203, Cl PS, IO | ||||||||
5.545%, VAR LIBOR USD 1 Month+6.250%, 09/15/2042 | 174 | 27 | ||||||
FHLMC CMO, Ser 2014-4310, Cl SA, IO | ||||||||
5.245%, VAR LIBOR USD 1 Month+5.950%, 02/15/2044 | 46 | 7 | ||||||
FHLMC CMO, Ser 2014-4335, Cl SW, IO | ||||||||
5.295%, VAR LIBOR USD 1 Month+6.000%, 05/15/2044 | 97 | 19 | ||||||
FHLMC CMO, Ser 2014-4415, Cl IO, IO | ||||||||
2.354%, 04/15/2041 (A) | 47 | 2 | ||||||
FHLMC Multifamily Structured Pass Through Certificates, Ser K091, Cl A2 | ||||||||
3.505%, 03/25/2029 | 160 | 186 | ||||||
FHLMC Structured Agency Credit Risk Debt Notes, Ser 2016-DNA1, Cl M3 | ||||||||
6.497%, VAR ICE LIBOR USD 1 Month+5.550%, 07/25/2028 | 380 | 366 | ||||||
FHLMC Structured Agency Credit Risk Debt Notes, Ser 2017-DNA1, Cl M1 | ||||||||
2.147%, VAR ICE LIBOR USD 1 Month+1.200%, 07/25/2029 | 102 | 102 | ||||||
FHLMC,Ser 2016-353, Cl S1, IO | ||||||||
5.295%, VAR LIBOR USD 1 Month+6.000%, 12/15/2046 | 140 | 28 | ||||||
FNMA | ||||||||
7.000%, 11/01/2037 to 11/01/2038 | 29 | 34 | ||||||
6.500%, 01/01/2038 to 05/01/2040 | 194 | 229 | ||||||
6.000%, 07/01/2037 to 11/01/2038 | 144 | 162 | ||||||
5.500%, 02/01/2035 | 117 | 133 |
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
MORTGAGE-BACKED SECURITIES (continued) |
| |||||||
5.000%, 01/01/2021 to 08/01/2049 | $ | 9,913 | $ | 10,849 | ||||
4.893%, VAR US Treas Yield Curve Rate T Note Const Mat 1 Yr+2.268%, 01/01/2036 | 24 | 24 | ||||||
4.500%, 02/01/2035 to 04/01/2056 | 5,179 | 5,651 | ||||||
4.174%, VAR ICE LIBOR USD 12 Month+1.700%, 03/01/2036 | 21 | 21 | ||||||
4.075%, VAR ICE LIBOR USD 12 Month+1.428%, 05/01/2043 | 243 | 244 | ||||||
4.000%, 06/01/2025 to 12/01/2049 | 11,369 | 12,280 | ||||||
3.640%, 11/01/2028 | 100 | 115 | ||||||
3.500%, 04/01/2033 to 03/01/2057 | 13,617 | 14,531 | ||||||
3.350%, 05/01/2029 | 20 | 23 | ||||||
3.160%, 06/01/2029 | 370 | 417 | ||||||
3.000%, 03/01/2030 to 03/01/2050 | 8,768 | 9,222 | ||||||
2.850%, 08/01/2031 | 100 | 111 | ||||||
2.810%, 08/01/2031 | 100 | 111 | ||||||
2.790%, 08/01/2029 | 200 | 221 | ||||||
2.770%, 08/01/2031 | 100 | 111 | ||||||
2.765%, 08/01/2031 | 100 | 110 | ||||||
2.740%, 08/01/2029 | 100 | 110 | ||||||
2.520%, 10/01/2029 | 20 | 22 | ||||||
2.260%, 03/01/2030 | 100 | 105 | ||||||
2.240%, 09/01/2026 | 140 | 148 | ||||||
FNMA CMO,Ser 2003-W2, Cl 2A9 | ||||||||
5.900%, 07/25/2042 | 434 | 504 | ||||||
FNMA CMO,Ser 2012-93, Cl UI, IO | ||||||||
3.000%, 09/25/2027 | 370 | 22 | ||||||
FNMA CMO,Ser 2014-47, Cl AI, IO | ||||||||
2.212%, 08/25/2044 (A) | 116 | 7 | ||||||
FNMA CMO,Ser 2015-55, Cl IO, IO | ||||||||
1.900%, 08/25/2055 (A) | 29 | 1 | ||||||
FNMA CMO,Ser 2015-56, Cl AS, IO | ||||||||
5.203%, VAR LIBOR USD 1 Month+6.150%, 08/25/2045 | 58 | 13 | ||||||
FNMA Connecticut Avenue Securities,Ser 2014-C04, Cl 1M2 | ||||||||
5.847%, VAR ICE LIBOR USD 1 Month+4.900%, 11/25/2024 | 249 | 237 | ||||||
FNMA TBA | ||||||||
5.000%, 05/15/2045 | 300 | 323 | ||||||
4.500%, 04/14/2033 to 05/01/2038 | 7,100 | 7,636 | ||||||
4.000%, 05/01/2039 | 100 | 107 | ||||||
3.500%, 05/15/2045 | 1,300 | 1,372 | ||||||
2.500%, 06/01/2043 | 2,100 | 2,167 | ||||||
FNMA,Ser 2005-29, Cl ZA | ||||||||
5.500%, 04/25/2035 | 138 | 164 | ||||||
FNMA,Ser 2012-101, Cl BI, IO | ||||||||
4.000%, 09/25/2027 | 13 | 1 | ||||||
FNMA,Ser 2013-54, Cl BS, IO | ||||||||
5.203%, VAR LIBOR USD 1 Month+6.150%, 06/25/2043 | 47 | 9 |
New Covenant Funds / Quarterly Report / March 31, 2020 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
MORTGAGE-BACKED SECURITIES (continued) |
| |||||||
FNMA,Ser 2017-76, Cl SB, IO | ||||||||
5.153%, VAR LIBOR USD 1 Month+6.100%, 10/25/2057 | $ | 262 | $ | 41 | ||||
FNMA,Ser 2017-85, Cl SC, IO | ||||||||
5.253%, VAR LIBOR USD 1 Month+6.200%, 11/25/2047 | 65 | 12 | ||||||
FNMA, Ser M19, Cl A2 | ||||||||
2.560%, 09/25/2029 | 539 | 564 | ||||||
FNMA, Ser M23, Cl 3A3 | ||||||||
2.720%, 10/25/2031 (A) | 100 | 106 | ||||||
FNMA, Ser M4, Cl A2 | ||||||||
3.610%, 02/25/2031 | 80 | 91 | ||||||
FNMA, Ser M6, Cl A2 | ||||||||
3.450%, 01/01/2029 | 170 | 190 | ||||||
FRESB Mortgage Trust, Ser SB48, Cl A10F | ||||||||
3.370%, 02/25/2028 (A) | 708 | 753 | ||||||
FRESB Mortgage Trust, Ser SB58, Cl A10F | ||||||||
3.610%, 10/25/2028 (A) | 1,045 | 1,113 | ||||||
GNMA | ||||||||
5.500%, 02/20/2037 to 01/15/2039 | 123 | 138 | ||||||
5.000%, 12/20/2038 to 01/20/2049 | 1,136 | 1,241 | ||||||
4.600%, 09/15/2034 | 1,899 | 2,090 | ||||||
4.500%, 07/20/2038 to 04/20/2049 | 3,650 | 3,955 | ||||||
4.000%, 01/15/2041 to 11/20/2049 | 3,177 | 3,437 | ||||||
3.500%, 06/20/2044 to 10/20/2049 | 1,825 | 1,947 | ||||||
3.000%, 09/15/2042 to 01/20/2050 | 693 | 737 | ||||||
2.500%, 02/20/2027 to 09/20/2049 | 586 | 606 | ||||||
GNMA CMO, Ser 186, Cl IO, IO | ||||||||
0.725%, 08/16/2054 (A) | 1,061 | 41 | ||||||
GNMA CMO,Ser 2012-34, Cl SA, IO | ||||||||
5.277%, VAR LIBOR USD 1 Month+6.050%, 03/20/2042 | 33 | 7 | ||||||
GNMA CMO,Ser 2012-66, Cl CI, IO | ||||||||
3.500%, 02/20/2038 | 57 | 2 | ||||||
GNMA CMO,Ser 2012-H18, Cl NA | ||||||||
2.182%, VAR ICE LIBOR USD 1 Month+0.520%, 08/20/2062 | 165 | 163 | ||||||
GNMA CMO,Ser 2012-H30, Cl GA | ||||||||
2.012%, VAR ICE LIBOR USD 1 Month+0.350%, 12/20/2062 | 737 | 727 | ||||||
GNMA CMO,Ser 2013-H01, Cl TA | ||||||||
2.162%, VAR ICE LIBOR USD 1 Month+0.500%, 01/20/2063 | 6 | 6 | ||||||
GNMA CMO,Ser 2013-H08, Cl BF | ||||||||
2.062%, VAR ICE LIBOR USD 1 Month+0.400%, 03/20/2063 | 724 | 714 | ||||||
GNMA CMO,Ser 2014-105, Cl IO, IO | ||||||||
0.933%, 06/16/2054 (A) | 1,138 | 48 | ||||||
GNMA CMO,Ser 2015-H20, Cl FA | ||||||||
2.132%, VAR ICE LIBOR USD 1 Month+0.470%, 08/20/2065 | 264 | 259 |
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
MORTGAGE-BACKED SECURITIES (continued) |
| |||||||
GNMA CMO, Ser 85, Cl IA, IO | ||||||||
0.689%, 03/16/2047 (A) | $ | 2,773 | $ | 84 | ||||
GNMA CMO, Ser 95, Cl IO, IO | ||||||||
0.547%, 04/16/2047 (A) | 1,367 | 41 | ||||||
GNMA TBA | ||||||||
4.500%, 05/01/2039 | 300 | 318 | ||||||
GNMA, Ser 107, Cl AD | ||||||||
2.695%, 11/16/2047 (A) | 95 | 97 | ||||||
GNMA,Ser 2013-H21, Cl FB | ||||||||
2.362%, VAR ICE LIBOR USD 1 Month+0.700%, 09/20/2063 | 486 | 483 | ||||||
GNMA,Ser 2015-167, Cl OI, IO | ||||||||
4.000%, 04/16/2045 | 100 | 15 | ||||||
GNMA, Ser 28, Cl AB | ||||||||
3.150%, 06/16/2060 | 80 | 82 | ||||||
|
|
| ||||||
119,084 | ||||||||
|
|
| ||||||
Non-Agency Mortgage-Backed Obligations — 8.4% |
| |||||||
280 Park Avenue Mortgage Trust, Ser 280P, Cl A | ||||||||
1.585%, VAR ICE LIBOR USD 1 Month+0.880%, 09/15/2034 (B) | 130 | 122 | ||||||
BX Commercial Mortgage Trust, Ser XL, Cl A | ||||||||
1.625%, VAR ICE LIBOR USD 1 Month+0.920%, 10/15/2036 (B) | 1,056 | 1,004 | ||||||
Citigroup Commercial Mortgage Trust, Ser 2014-GC25, Cl AS | ||||||||
4.017%, 10/10/2047 | 100 | 102 | ||||||
Citigroup Commercial Mortgage Trust,Ser 2016-P6, Cl AAB | ||||||||
3.512%, 12/10/2049 | 810 | 853 | ||||||
Citigroup Commercial Mortgage Trust, Ser 375P, Cl A | ||||||||
3.251%, 05/10/2035 (B) | 190 | 188 | ||||||
COMM Mortgage Trust, Ser CR5, Cl A4 | ||||||||
2.771%, 12/10/2045 | 700 | 700 | ||||||
COMM Mortgage Trust, Ser CR5, Cl AM | ||||||||
3.223%, 12/10/2045 (B) | 590 | 589 | ||||||
COMM Mortgage Trust, Ser CR8, Cl A4 | ||||||||
3.334%, 06/10/2046 | 565 | 581 | ||||||
Commercial Mortgage Trust, Ser 2013-CR12, Cl C | ||||||||
5.071%, 10/10/2046 (A) | 10 | 9 | ||||||
Commercial Mortgage Trust, Ser 2013-CR12, Cl B | ||||||||
4.762%, 10/10/2046 (A) | 20 | 20 | ||||||
Commercial Mortgage Trust, Ser 2013-CR12, Cl AM | ||||||||
4.300%, 10/10/2046 | 20 | 21 | ||||||
CSMC Trust,Ser 2018-J1, Cl A2 | ||||||||
3.500%, 02/25/2048 (A)(B) | 1,100 | 1,118 |
2 | New Covenant Funds / Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
MORTGAGE-BACKED SECURITIES (continued) |
| |||||||
CSMC, Ser USA, Cl B | ||||||||
4.185%, 09/15/2037 (B) | $ | 470 | $ | 433 | ||||
DBUBS Mortgage Trust, Ser LC2A, Cl A4 | ||||||||
4.537%, 07/10/2044 (B) | 1,009 | 1,023 | ||||||
DRB Prime Student Loan Trust,Ser 2015-B, Cl A1 | ||||||||
3.516%, VAR ICE LIBOR USD 1 Month+1.900%, 10/27/2031 (B) | 92 | 92 | ||||||
Flagstar Mortgage Trust,Ser 2018-2, Cl A4 | ||||||||
3.500%, 04/25/2048 (A)(B) | 237 | 239 | ||||||
GS Mortage-Backed Securities Trust,Ser 2020-PJ1, Cl A6 | ||||||||
3.500%, 05/25/2050 (A)(B) | 811 | 802 | ||||||
GS Mortgage Securities Trust, Ser 2013-GC16, Cl B | ||||||||
5.161%, 11/10/2046 (A) | 80 | 83 | ||||||
GS Mortgage Securities Trust, Ser 2018-SRP5, Cl B | ||||||||
4.481%, 06/09/2021 | 430 | 396 | ||||||
GS Mortgage Securities Trust, Ser 2018-SRP5, Cl A | ||||||||
3.281%, 06/09/2021 | 620 | 580 | ||||||
GS Mortgage-Backed Securities Trust, Ser 2018-RPL1, Cl A1A | ||||||||
3.750%, 10/25/2057 (B) | 343 | 348 | ||||||
JPMBB Commercial Mortgage Securities Trust,Ser 2013-C15, Cl B | ||||||||
4.927%, 11/15/2045 (A) | 210 | 213 | ||||||
JPMBB Commercial Mortgage Securities Trust,Ser 2013-C17, Cl B | ||||||||
4.892%, 01/15/2047 (A) | 30 | 31 | ||||||
JPMBB Commercial Mortgage Securities Trust,Ser 2014-C22, Cl C | ||||||||
4.554%, 09/15/2047 (A) | 80 | 70 | ||||||
JPMorgan Chase Commercial Mortgage Securities Trust, Ser C6, Cl A3 | ||||||||
3.507%, 05/15/2045 | 1,117 | 1,142 | ||||||
JPMorgan Chase Commercial Mortgage Securities Trust, Ser FL7, Cl D | ||||||||
4.455%, VAR ICE LIBOR USD 1 Month+3.750%, 05/15/2028 (B) | 129 | 125 | ||||||
JPMorgan Chase Commercial Mortgage Securities Trust, Ser LC9, Cl AS | ||||||||
3.353%, 12/15/2047 (B) | 380 | 379 | ||||||
JPMorgan Mortgage Trust,Ser 2015-5, Cl A9 | ||||||||
3.053%, 05/25/2045 (A)(B) | 80 | 79 | ||||||
JPMorgan Mortgage Trust,Ser 2016-1, Cl A5 | ||||||||
3.500%, 05/25/2046 (A)(B) | 369 | 366 | ||||||
JPMorgan Mortgage Trust,Ser 2018-3, Cl A1 | ||||||||
3.500%, 09/25/2048 (A)(B) | 604 | 613 | ||||||
JPMorgan Mortgage Trust,Ser 2018-4, Cl A1 | ||||||||
3.500%, 10/25/2048 (A)(B) | 226 | 232 |
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
MORTGAGE-BACKED SECURITIES (continued) |
| |||||||
JPMorgan Mortgage Trust,Ser 2018-5, Cl A1 | ||||||||
3.500%, 10/25/2048 (A)(B) | $ | 425 | $ | 433 | ||||
JPMorgan Mortgage Trust,Ser 2018-6, Cl 1A4 | ||||||||
3.500%, 12/25/2048 (A)(B) | 330 | 326 | ||||||
Lanark Master Issuer,Ser 2018-1A, Cl 1A | ||||||||
2.103%, VAR ICE LIBOR USD 3 Month+0.420%, 12/22/2069 (B) | 538 | 536 | ||||||
MAD Mortgage Trust, Ser 330M, Cl A | ||||||||
3.082%, 08/15/2034 (A)(B) | 220 | 211 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust, Ser C34, Cl ASB | ||||||||
3.354%, 11/15/2052 | 615 | 653 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust, Ser C5, Cl A4 | ||||||||
3.176%, 08/15/2045 | 1,475 | 1,486 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust, Ser C9, Cl A4 | ||||||||
3.102%, 05/15/2046 | 714 | 720 | ||||||
Morgan Stanley Capital I Trust,Ser 2012-C4, Cl A4 | ||||||||
3.244%, 03/15/2045 | 220 | 221 | ||||||
MSCG Trust,Ser 2016-SNR, Cl C | ||||||||
5.205%, 11/15/2034 (B) | 128 | 123 | ||||||
MSCG Trust, Ser ALDR, Cl A2 | ||||||||
3.462%, 06/07/2035 (A)(B) | 410 | 393 | ||||||
Natixis Commercial Mortgage Securities Trust, Ser FAME, Cl B | ||||||||
3.655%, 08/15/2034 (B) | 410 | 370 | ||||||
New Residential Mortgage Loan Trust,Ser 2019-4A, Cl A1B | ||||||||
3.500%, 12/25/2058 (A)(B) | 367 | 376 | ||||||
New Residential Mortgage Loan Trust, Ser 2019-NQM4, Cl A1 | ||||||||
2.492%, 09/25/2059 (A)(B) | 520 | 512 | ||||||
Nomura Asset Acceptance Alternative Loan Trust,Ser 2007-1, Cl 1A3 | ||||||||
5.957%, 03/25/2047 | 69 | 64 | ||||||
Seasoned Credit Risk Transfer Trust Series,Ser 2019-4, Cl MA | ||||||||
3.000%, 02/25/2059 | 538 | 560 | ||||||
Seasoned Credit Risk Transfer Trust,Ser 2019-1, Cl MA | ||||||||
3.500%, 07/25/2058 | 904 | 957 | ||||||
Seasoned Credit Risk Transfer Trust,Ser 2019-2, Cl MA | ||||||||
3.500%, 08/25/2058 | 759 | 804 | ||||||
Sequoia Mortgage Trust,Ser 2017-1, Cl A4 | ||||||||
3.500%, 02/25/2047 (A)(B) | 623 | 627 | ||||||
Sequoia Mortgage Trust,Ser 2017-5, Cl A4 | ||||||||
3.500%, 08/25/2047 (A)(B) | 631 | 626 | ||||||
Sequoia Mortgage Trust,Ser 2017-6, Cl A4 | ||||||||
3.500%, 09/25/2047 (A)(B) | 324 | 327 |
New Covenant Funds / Quarterly Report / March 31, 2020 | 3 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
MORTGAGE-BACKED SECURITIES (continued) |
| |||||||
Towd Point Mortgage Trust,Ser 2015-5, Cl A1B | ||||||||
2.750%, 05/25/2055 (A)(B) | $ | 170 | $ | 169 | ||||
UBS-BAMLL Trust,Ser 2012-WRM, Cl A | ||||||||
3.663%, 06/10/2030 (B) | 116 | 118 | ||||||
UBS-Barclays Commercial Mortgage Trust,Ser 2012-C2, Cl A4 | ||||||||
3.525%, 05/10/2063 | 73 | 74 | ||||||
UBS-Barclays Commercial Mortgage Trust,Ser 2012-CN, Cl XA, IO | ||||||||
1.303%, 05/10/2063 (A)(B) | 329 | 8 | ||||||
Wells Fargo Commercial Mortgage Trust, Ser 2015-NXS3, Cl NXS3 | ||||||||
3.371%, 09/15/2057 | 160 | 164 | ||||||
WF-RBS Commercial Mortgage Trust,Ser 2012-C7, Cl XA, IO | ||||||||
1.336%, 06/15/2045 (A)(B) | 1,075 | 22 | ||||||
WFRBS Commercial Mortgage Trust,Ser 2013-C13, Cl XA, IO | ||||||||
1.194%, 05/15/2045 (A)(B) | 1,075 | 32 | ||||||
WFRBS Commercial Mortgage Trust,Ser 2014-C23, Cl XA, IO | ||||||||
0.569%, 10/15/2057 (A) | 1,055 | 22 | ||||||
WFRBS Commercial Mortgage Trust,Ser 2014-C23, Cl B | ||||||||
4.381%, 10/15/2057 (A) | 270 | 269 | ||||||
WFRBS Commercial Mortgage Trust, Ser C11, Cl AS | ||||||||
3.311%, 03/15/2045 | 160 | 159 | ||||||
WFRBS Commercial Mortgage Trust, Ser C2, Cl A4 | ||||||||
4.869%, 02/15/2044 (A)(B) | 777 | 785 | ||||||
WFRBS Commercial Mortgage Trust, Ser C4, Cl A4 | ||||||||
4.902%, 06/15/2044 (A)(B) | 1,796 | 1,830 | ||||||
|
|
| ||||||
26,530 | ||||||||
|
|
| ||||||
Total Mortgage-Backed Securities |
| 145,614 | ||||||
|
|
| ||||||
CORPORATE OBLIGATIONS — 30.2% |
| |||||||
Communication Services — 2.9% |
| |||||||
AT&T | ||||||||
4.250%, 03/01/2027 | 150 | 159 | ||||||
4.125%, 02/17/2026 | 408 | 432 | ||||||
3.875%, 08/15/2021 | 10 | 10 | ||||||
3.817%, 11/27/2022 (B)(C) | 2,000 | 1,855 | ||||||
3.000%, 06/30/2022 | 10 | 10 | ||||||
Charter Communications Operating | ||||||||
5.050%, 03/30/2029 | 20 | 22 | ||||||
4.908%, 07/23/2025 | 110 | 117 |
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
CORPORATE OBLIGATIONS (continued) |
| |||||||
4.800%, 03/01/2050 | $ | 40 | $ | 42 | ||||
3.750%, 02/15/2028 | 20 | 20 | ||||||
3.579%, 07/23/2020 | 30 | 30 | ||||||
Comcast | ||||||||
4.700%, 10/15/2048 | 10 | 13 | ||||||
4.150%, 10/15/2028 | 80 | 90 | ||||||
3.950%, 10/15/2025 | 150 | 163 | ||||||
3.750%, 04/01/2040 | 20 | 23 | ||||||
3.450%, 02/01/2050 | 70 | 77 | ||||||
3.400%, 04/01/2030 | 40 | 43 | ||||||
3.250%, 11/01/2039 | 30 | 31 | ||||||
Comcast Cable Communications Holdings | ||||||||
9.455%, 11/15/2022 | 1,116 | 1,317 | ||||||
Cox Communications | ||||||||
3.250%, 12/15/2022 (B) | 859 | 870 | ||||||
Fox | ||||||||
4.709%, 01/25/2029 (B) | 40 | 44 | ||||||
Sprint Spectrum | ||||||||
3.360%, 09/20/2021 (B) | 289 | 287 | ||||||
TCI Communications | ||||||||
7.875%, 02/15/2026 | 240 | 308 | ||||||
Telefonica Emisiones SAU | ||||||||
4.895%, 03/06/2048 | 340 | 377 | ||||||
Tencent Holdings MTN | ||||||||
3.595%, 01/19/2028 (B) | 250 | 264 | ||||||
Verizon Communications | ||||||||
4.862%, 08/21/2046 | 40 | 52 | ||||||
4.329%, 09/21/2028 | 435 | 495 | ||||||
4.125%, 08/15/2046 | 40 | 46 | ||||||
4.000%, 03/22/2050 | 40 | 47 | ||||||
3.875%, 02/08/2029 | 30 | 33 | ||||||
3.376%, 02/15/2025 | 232 | 248 | ||||||
3.000%, 03/22/2027 | 20 | 21 | ||||||
2.625%, 08/15/2026 | 513 | 530 | ||||||
Viacom | ||||||||
3.875%, 04/01/2024 | 20 | 20 | ||||||
Vodafone Group PLC | ||||||||
3.750%, 01/16/2024 | 410 | 427 | ||||||
Walt Disney | ||||||||
3.350%, 03/24/2025 | 469 | 511 | ||||||
3.000%, 09/15/2022 | 30 | 31 | ||||||
|
|
| ||||||
9,065 | ||||||||
|
|
| ||||||
Consumer Discretionary — 1.4% |
| |||||||
Amazon.com | ||||||||
3.150%, 08/22/2027 | 470 | 514 | ||||||
BMW US Capital | ||||||||
2.150%, 04/06/2020 (B) | 950 | 950 | ||||||
1.850%, 09/15/2021 (B) | 20 | 20 | ||||||
General Motors Financial | ||||||||
4.150%, 06/19/2023 | 600 | 546 | ||||||
3.700%, 11/24/2020 | 80 | 79 |
4 | New Covenant Funds / Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
CORPORATE OBLIGATIONS (continued) |
| |||||||
3.700%, 05/09/2023 | $ | 190 | $ | 171 | ||||
2.450%, 11/06/2020 | 30 | 29 | ||||||
Home Depot | ||||||||
3.900%, 06/15/2047 | 10 | 11 | ||||||
3.350%, 04/15/2050 | 50 | 52 | ||||||
3.300%, 04/15/2040 | 20 | 21 | ||||||
2.500%, 04/15/2027 | 410 | 413 | ||||||
KazMunayGas National JSC | ||||||||
5.375%, 04/24/2030 (B) | 400 | 392 | ||||||
Lowe’s | ||||||||
5.125%, 04/15/2050 | 80 | 97 | ||||||
5.000%, 04/15/2040 | 20 | 23 | ||||||
4.500%, 04/15/2030 | 30 | 33 | ||||||
McDonald’s MTN | ||||||||
4.200%, 04/01/2050 | 30 | 34 | ||||||
3.350%, 04/01/2023 | 280 | 289 | ||||||
Newell Brands | ||||||||
4.100%, 04/01/2023 | 53 | 54 | ||||||
NIKE | ||||||||
3.375%, 03/27/2050 | 70 | 76 | ||||||
2.400%, 03/27/2025 | 315 | 327 | ||||||
Starbucks | ||||||||
2.000%, 03/12/2027 | 266 | 250 | ||||||
Target | ||||||||
2.650%, 09/15/2030 | 100 | 103 | ||||||
|
|
| ||||||
4,484 | ||||||||
|
|
| ||||||
Consumer Staples — 0.5% | ||||||||
Coca-Cola | ||||||||
4.200%, 03/25/2050 | 130 | 170 | ||||||
4.125%, 03/25/2040 | 20 | 24 | ||||||
Kimberly-Clark | ||||||||
3.100%, 03/26/2030 | 20 | 22 | ||||||
Kraft Heinz Foods | ||||||||
4.875%, 02/15/2025 (B) | 48 | 48 | ||||||
Mars | ||||||||
3.200%, 04/01/2030 (B) | 30 | 31 | ||||||
2.700%, 04/01/2025 (B) | 60 | 62 | ||||||
PepsiCo | ||||||||
3.875%, 03/19/2060 | 20 | 25 | ||||||
3.625%, 03/19/2050 | 20 | 24 | ||||||
3.000%, 08/25/2021 | 290 | 298 | ||||||
2.875%, 10/15/2049 | 20 | 21 | ||||||
2.750%, 03/05/2022 | 80 | 83 | ||||||
2.250%, 03/19/2025 | 321 | 333 | ||||||
Procter & Gamble | ||||||||
3.600%, 03/25/2050 | 50 | 61 | ||||||
3.550%, 03/25/2040 | 30 | 35 | ||||||
3.000%, 03/25/2030 | 40 | 44 | ||||||
2.450%, 03/25/2025 | 309 | 325 |
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
CORPORATE OBLIGATIONS (continued) |
| |||||||
Walmart | ||||||||
3.050%, 07/08/2026 | $ | 100 | $ | 108 | ||||
|
|
| ||||||
1,714 | ||||||||
|
|
| ||||||
Energy — 2.5% | ||||||||
Apache | ||||||||
3.250%, 04/15/2022 | 616 | 462 | ||||||
Berkshire Hathaway Energy | ||||||||
3.700%, 07/15/2030 (B) | 140 | 150 | ||||||
BP Capital Markets America | ||||||||
3.790%, 02/06/2024 | 80 | 82 | ||||||
3.410%, 02/11/2026 | 40 | 40 | ||||||
3.216%, 11/28/2023 | 90 | 92 | ||||||
3.119%, 05/04/2026 | 170 | 171 | ||||||
BP Capital Markets PLC | ||||||||
3.535%, 11/04/2024 | 20 | 20 | ||||||
Cameron LNG | ||||||||
2.902%, 07/15/2031 (B) | 60 | 53 | ||||||
Chevron | ||||||||
2.100%, 05/16/2021 | 130 | 130 | ||||||
Cimarex Energy | ||||||||
4.375%, 06/01/2024 | 50 | 39 | ||||||
4.375%, 03/15/2029 | 50 | 33 | ||||||
3.900%, 05/15/2027 | 160 | 107 | ||||||
Concho Resources | ||||||||
4.375%, 01/15/2025 | 455 | 381 | ||||||
4.300%, 08/15/2028 | 30 | 26 | ||||||
3.750%, 10/01/2027 | 160 | 136 | ||||||
Continental Resources | ||||||||
5.000%, 09/15/2022 | 120 | 77 | ||||||
4.500%, 04/15/2023 | 150 | 83 | ||||||
4.375%, 01/15/2028 | 20 | 9 | ||||||
3.800%, 06/01/2024 | 190 | 98 | ||||||
Devon Energy | ||||||||
5.850%, 12/15/2025 | 210 | 166 | ||||||
Diamondback Energy | ||||||||
5.375%, 05/31/2025 | 50 | 37 | ||||||
3.250%, 12/01/2026 | 30 | 21 | ||||||
2.875%, 12/01/2024 | 290 | 203 | ||||||
Energy Transfer Operating | ||||||||
4.950%, 06/15/2028 | 10 | 8 | ||||||
3.750%, 05/15/2030 | 160 | 123 | ||||||
2.900%, 05/15/2025 | 40 | 33 | ||||||
Energy Transfer Partners | ||||||||
4.500%, 11/01/2023 | 60 | 54 | ||||||
Enterprise Products Operating | ||||||||
4.150%, 10/16/2028 | 140 | 140 | ||||||
3.900%, 02/15/2024 | 457 | 467 | ||||||
3.750%, 02/15/2025 | 100 | 99 | ||||||
3.125%, 07/31/2029 | 60 | 55 | ||||||
2.800%, 01/31/2030 | 170 | 153 |
New Covenant Funds / Quarterly Report / March 31, 2020 | 5 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
CORPORATE OBLIGATIONS (continued) |
| |||||||
EOG Resources | ||||||||
4.150%, 01/15/2026 | $ | 160 | $ | 164 | ||||
Exxon Mobil | ||||||||
4.327%, 03/19/2050 | 20 | 24 | ||||||
2.992%, 03/19/2025 | 160 | 169 | ||||||
ExxonMobil | ||||||||
3.043%, 03/01/2026 | 150 | 159 | ||||||
Halliburton | ||||||||
3.250%, 11/15/2021 | 180 | 175 | ||||||
Kinder Morgan | ||||||||
4.300%, 06/01/2025 | 60 | 61 | ||||||
Kinder Morgan Energy Partners | ||||||||
3.500%, 03/01/2021 | 30 | 30 | ||||||
MidAmerican Energy | ||||||||
3.650%, 04/15/2029 | 140 | 150 | ||||||
MPLX | ||||||||
4.800%, 02/15/2029 | 50 | 44 | ||||||
4.125%, 03/01/2027 | 110 | 94 | ||||||
4.000%, 03/15/2028 | 40 | 35 | ||||||
Noble Energy | ||||||||
3.850%, 01/15/2028 | 30 | 21 | ||||||
3.250%, 10/15/2029 | 80 | 47 | ||||||
Occidental Petroleum | ||||||||
5.550%, 03/15/2026 | 180 | 95 | ||||||
4.428%, 10/10/2036 (C) | 2,000 | 775 | ||||||
4.100%, 02/01/2021 | 50 | 43 | ||||||
3.400%, 04/15/2026 | 80 | 39 | ||||||
3.200%, 08/15/2026 | 130 | 62 | ||||||
3.125%, 02/15/2022 | 100 | 73 | ||||||
3.000%, 02/15/2027 | 130 | 60 | ||||||
2.600%, 08/13/2021 | 250 | 197 | ||||||
Phillips 66 Partners | ||||||||
2.450%, 12/15/2024 | 413 | 363 | ||||||
Schlumberger Holdings | ||||||||
3.900%, 05/17/2028 (B) | 456 | 424 | ||||||
Sinopec Group Overseas Development | ||||||||
4.375%, 04/10/2024 (B) | 290 | 309 | ||||||
Tennessee Gas Pipeline | ||||||||
2.900%, 03/01/2030 (B) | 160 | 135 | ||||||
Western Midstream Operating | ||||||||
4.050%, 02/01/2030 | 120 | 52 | ||||||
3.100%, 02/01/2025 | 30 | 15 | ||||||
2.698%, VAR ICE LIBOR USD 3 | 20 | 11 | ||||||
Williams | ||||||||
3.750%, 06/15/2027 | 340 | 311 | ||||||
|
|
| ||||||
7,885 | ||||||||
|
|
| ||||||
Financials — 12.6% | ||||||||
American Express | ||||||||
3.400%, 02/27/2023 | 972 | 996 | ||||||
2.650%, 12/02/2022 | 264 | 267 |
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
CORPORATE OBLIGATIONS (continued) |
| |||||||
American Express Credit MTN | ||||||||
2.375%, 05/26/2020 | $ | 80 | $ | 80 | ||||
Anglo American Capital | ||||||||
3.625%, 09/11/2024 (B) | 200 | 188 | ||||||
Banco Santander | ||||||||
4.379%, 04/12/2028 | 200 | 202 | ||||||
2.968%, VAR ICE LIBOR USD 3 | 200 | 192 | ||||||
Bank of America | ||||||||
3.419%, VAR ICE LIBOR USD 3 | 234 | 241 | ||||||
3.004%, VAR ICE LIBOR USD 3 | 258 | 263 | ||||||
Bank of America MTN | ||||||||
4.450%, 03/03/2026 | 678 | 730 | ||||||
4.200%, 08/26/2024 | 210 | 223 | ||||||
4.125%, 01/22/2024 | 370 | 391 | ||||||
4.100%, 07/24/2023 | 280 | 298 | ||||||
4.083%, 03/20/2051 (A) | 190 | 218 | ||||||
4.000%, 04/01/2024 | 440 | 466 | ||||||
4.000%, 01/22/2025 | 80 | 84 | ||||||
3.974%, VAR ICE LIBOR USD 3 | 80 | 86 | ||||||
3.593%, VAR ICE LIBOR USD 3 | 210 | 215 | ||||||
3.550%, VAR ICE LIBOR USD 3 | 80 | 83 | ||||||
3.500%, 04/19/2026 | 130 | 138 | ||||||
3.300%, 01/11/2023 | 60 | 62 | ||||||
Bank of New York Mellon MTN | ||||||||
3.300%, 08/23/2029 | 790 | 809 | ||||||
Barclays Bank | ||||||||
2.650%, 01/11/2021 | 1,199 | 1,198 | ||||||
BNP Paribas | ||||||||
5.198%, VAR ICE LIBOR USD 3 | 200 | 221 | ||||||
4.705%, VAR ICE LIBOR USD 3 | 270 | 281 | ||||||
4.400%, 08/14/2028 (B) | 200 | 213 | ||||||
BPCE MTN | ||||||||
3.000%, 05/22/2022 (B) | 640 | 634 | ||||||
Capital One | ||||||||
2.650%, 08/08/2022 | 830 | 822 | ||||||
Capital One Financial | ||||||||
3.300%, 10/30/2024 | 480 | 470 | ||||||
Charles Schwab | ||||||||
3.850%, 05/21/2025 | 110 | 116 | ||||||
Citigroup | ||||||||
8.125%, 07/15/2039 | 12 | 19 | ||||||
5.500%, 09/13/2025 | 150 | 164 | ||||||
5.300%, 05/06/2044 | 31 | 36 | ||||||
4.650%, 07/30/2045 | 28 | 32 |
6 | New Covenant Funds / Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
CORPORATE OBLIGATIONS (continued) |
| |||||||
4.450%, 09/29/2027 | $ | 120 | $ | 125 | ||||
4.412%, VAR United States Secured Overnight Financing Rate+3.914%, 03/31/2031 | 100 | 110 | ||||||
4.400%, 06/10/2025 | 160 | 167 | ||||||
4.300%, 11/20/2026 | 40 | 42 | ||||||
4.125%, 07/25/2028 | 40 | 41 | ||||||
4.075%, VAR ICE LIBOR USD 3 Month+1.192%, 04/23/2029 | 240 | 251 | ||||||
4.050%, 07/30/2022 | 40 | 41 | ||||||
3.668%, VAR ICE LIBOR USD 3 Month+1.390%, 07/24/2028 | 340 | 352 | ||||||
3.500%, 05/15/2023 | 100 | 102 | ||||||
3.400%, 05/01/2026 | 354 | 369 | ||||||
3.200%, 10/21/2026 | 287 | 297 | ||||||
Cooperatieve Rabobank UA | ||||||||
3.950%, 11/09/2022 | 670 | 676 | ||||||
3.875%, 09/26/2023 (B) | 595 | 612 | ||||||
Credit Suisse Group | ||||||||
4.194%, VAR United States Secured Overnight Financing Rate+3.730%, 04/01/2031 (B) | 250 | 256 | ||||||
Daiwa Securities Group | ||||||||
3.129%, 04/19/2022 (B) | 50 | 51 | ||||||
Danske Bank | ||||||||
5.000%, 01/12/2022 (B) | 200 | 206 | ||||||
3.001%, VAR ICE LIBOR USD 3 Month+1.249%, 09/20/2022 (B) | 200 | 199 | ||||||
Ferguson Finance | ||||||||
4.500%, 10/24/2028 (B) | 459 | 480 | ||||||
General Electric Capital MTN | ||||||||
4.650%, 10/17/2021 | 180 | 183 | ||||||
4.375%, 09/16/2020 | 10 | 10 | ||||||
Glencore Funding | ||||||||
2.875%, 04/16/2020 (B) | 20 | 20 | ||||||
Goldman Sachs Group | ||||||||
5.750%, 01/24/2022 | 662 | 701 | ||||||
5.150%, 05/22/2045 | 20 | 23 | ||||||
4.750%, 10/21/2045 | 40 | 48 | ||||||
4.250%, 10/21/2025 | 90 | 93 | ||||||
4.223%, VAR ICE LIBOR USD 3 Month+1.301%, 05/01/2029 | 550 | 585 | ||||||
3.800%, 03/15/2030 | 530 | 552 | ||||||
3.691%, VAR ICE LIBOR USD 3 Month+1.510%, 06/05/2028 | 300 | 308 | ||||||
3.500%, 11/16/2026 | 90 | 91 | ||||||
Goldman Sachs Group MTN | ||||||||
6.000%, 06/15/2020 | 480 | 483 | ||||||
4.000%, 03/03/2024 | 420 | 439 | ||||||
HSBC Holdings | ||||||||
4.950%, 03/31/2030 | 200 | 219 |
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
CORPORATE OBLIGATIONS (continued) | ||||||||
HSBC Holdings PLC | ||||||||
4.583%, VAR ICE LIBOR USD 3 Month+1.535%, 06/19/2029 | $ | 400 | $ | 424 | ||||
3.400%, 03/08/2021 | 360 | 362 | ||||||
2.950%, 05/25/2021 | 380 | 382 | ||||||
Intesa Sanpaolo | ||||||||
3.375%, 01/12/2023 (B) | 200 | 190 | ||||||
JPMorgan Chase | ||||||||
4.500%, 01/24/2022 | 786 | 821 | ||||||
4.452%, VAR ICE LIBOR USD 3 Month+1.330%, 12/05/2029 | 200 | 225 | ||||||
4.203%, VAR ICE LIBOR USD 3 Month+1.260%, 07/23/2029 | 773 | 848 | ||||||
4.023%, VAR ICE LIBOR USD 3 Month+1.000%, 12/05/2024 | 230 | 244 | ||||||
4.005%, VAR ICE LIBOR USD 3 Month+1.120%, 04/23/2029 | 100 | 107 | ||||||
3.875%, 09/10/2024 | 290 | 306 | ||||||
2.550%, 03/01/2021 | 30 | 30 | ||||||
KKR Group Finance VI | ||||||||
3.750%, 07/01/2029 (B) | 595 | 593 | ||||||
Liberty Mutual Group | ||||||||
4.569%, 02/01/2029 (B) | 321 | 355 | ||||||
4.250%, 06/15/2023 (B) | 91 | 93 | ||||||
Lloyds Banking Group | ||||||||
2.858%, VAR ICE LIBOR USD 3 Month+1.249%, 03/17/2023 | 434 | 428 | ||||||
Macquarie Bank | ||||||||
2.300%, 01/22/2025 (B) | 1,188 | 1,167 | ||||||
Mitsubishi UFJ Financial Group | ||||||||
3.407%, 03/07/2024 | 510 | 520 | ||||||
Morgan Stanley | ||||||||
5.597%, 03/24/2051 (A) | 30 | 42 | ||||||
Morgan Stanley MTN | ||||||||
3.772%, VAR ICE LIBOR USD 3 Month+1.140%, 01/24/2029 | 150 | 158 | ||||||
3.750%, 02/25/2023 | 1,110 | 1,151 | ||||||
3.622%, VAR United States Secured Overnight Financing Rate+3.120%, 04/01/2031 | 475 | 497 | ||||||
2.699%, VAR United States Secured Overnight Financing Rate+1.143%, 01/22/2031 | 100 | 98 | ||||||
National Rural Utilities Cooperative Finance | ||||||||
2.850%, 01/27/2025 | 1,060 | 1,068 | ||||||
ORIX | ||||||||
4.050%, 01/16/2024 | 365 | 378 | ||||||
Peachtree Corners Funding Trust | ||||||||
3.976%, 02/15/2025 (B) | 944 | 939 | ||||||
Penske Truck Leasing Lp | ||||||||
3.900%, 02/01/2024 (B) | 965 | 958 |
New Covenant Funds / Quarterly Report / March 31, 2020 | 7 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
CORPORATE OBLIGATIONS (continued) |
| |||||||
Principal Life Global Funding II | ||||||||
2.625%, 11/19/2020 (B) | $ | 570 | $ | 572 | ||||
Royal Bank of Canada MTN | ||||||||
2.150%, 10/26/2020 | 70 | 70 | ||||||
Royal Bank of Scotland Group | ||||||||
4.269%, VAR ICE LIBOR USD 3 Month+1.762%, 03/22/2025 | 200 | 208 | ||||||
Royal Bank of Scotland Group PLC | ||||||||
4.519%, VAR ICE LIBOR USD 3 Month+1.550%, 06/25/2024 | 290 | 292 | ||||||
Santander UK Group Holdings PLC | ||||||||
3.571%, 01/10/2023 | 200 | 199 | ||||||
SMBC Aviation Capital Finance DAC | ||||||||
4.125%, 07/15/2023 (B) | 200 | 216 | ||||||
State Street | ||||||||
3.152%, VAR United States Secured Overnight Financing Rate+2.650%, 03/30/2031 (B) | 50 | 51 | ||||||
SunTrust Bank | ||||||||
2.800%, 05/17/2022 | 1,146 | 1,160 | ||||||
Svenska Handelsbanken MTN | ||||||||
3.350%, 05/24/2021 | 250 | 253 | ||||||
UBS Group Funding Jersey | ||||||||
4.125%, 04/15/2026 (B) | 634 | 642 | ||||||
UBS Group Funding Switzerland | ||||||||
4.253%, 03/23/2028 (B) | 250 | 262 | ||||||
3.491%, 05/23/2023 (B) | 390 | 395 | ||||||
US Bancorp | ||||||||
3.375%, 02/05/2024 | 540 | 573 | ||||||
USAA Capital MTN | ||||||||
2.625%, 06/01/2021 (B) | 350 | 348 | ||||||
Visa | ||||||||
1.900%, 04/15/2027 | 879 | 877 | ||||||
Wells Fargo | ||||||||
3.069%, 01/24/2023 | 808 | 817 | ||||||
3.000%, 10/23/2026 | 190 | 194 | ||||||
Wells Fargo MTN | ||||||||
5.013%, 04/04/2051 (A) | 420 | 536 | ||||||
4.900%, 11/17/2045 | 30 | 34 | ||||||
4.600%, 04/01/2021 | 480 | 490 | ||||||
4.478%, VAR ICE LIBOR USD 3 Month+3.770%, 04/04/2031 | 50 | 57 | ||||||
4.300%, 07/22/2027 | 200 | 213 | ||||||
3.750%, 01/24/2024 | 540 | 571 | ||||||
3.450%, 02/13/2023 | 120 | 123 | ||||||
|
|
| ||||||
40,107 | ||||||||
|
|
| ||||||
Health Care — 3.1% | ||||||||
Abbott Laboratories | ||||||||
3.400%, 11/30/2023 | 175 | 184 | ||||||
AbbVie | ||||||||
4.250%, 11/21/2049 (B) | 30 | 32 |
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
CORPORATE OBLIGATIONS (continued) |
| |||||||
3.600%, 05/14/2025 | $ | 10 | $ | 10 | ||||
3.200%, 11/21/2029 (B) | 40 | 40 | ||||||
2.950%, 11/21/2026 (B) | 20 | 20 | ||||||
2.600%, 11/21/2024 (B) | 140 | 141 | ||||||
2.300%, 11/21/2022 (B) | 1,046 | 1,047 | ||||||
Adventist Health System | ||||||||
2.433%, 09/01/2024 | 431 | 411 | ||||||
Aetna | ||||||||
2.800%, 06/15/2023 | 20 | 20 | ||||||
Amgen | ||||||||
2.125%, 05/01/2020 | 20 | 20 | ||||||
Anthem | ||||||||
3.125%, 05/15/2022 | 340 | 346 | ||||||
Baylor Scott & White Holdings | ||||||||
1.947%, 11/15/2021 | 1,226 | 1,228 | ||||||
Becton Dickinson | ||||||||
4.685%, 12/15/2044 | 40 | 42 | ||||||
3.734%, 12/15/2024 | 24 | 25 | ||||||
3.363%, 06/06/2024 | 210 | 210 | ||||||
Bristol-Myers Squibb | ||||||||
3.875%, 08/15/2025 (B) | 130 | 149 | ||||||
3.550%, 08/15/2022 (B) | 60 | 63 | ||||||
3.400%, 07/26/2029 (B) | 50 | 55 | ||||||
3.200%, 06/15/2026 (B) | 120 | 127 | ||||||
2.900%, 07/26/2024 (B) | 180 | 191 | ||||||
2.600%, 05/16/2022 (B) | 80 | 82 | ||||||
2.250%, 08/15/2021 (B) | 70 | 70 | ||||||
Cigna | ||||||||
4.375%, 10/15/2028 | 120 | 129 | ||||||
4.125%, 11/15/2025 | 50 | 53 | ||||||
3.500%, 06/15/2024 (B) | 160 | 162 | ||||||
3.400%, 09/17/2021 | 60 | 61 | ||||||
CommonSpirit Health | ||||||||
4.200%, 08/01/2023 | 473 | 490 | ||||||
CVS Health | ||||||||
5.050%, 03/25/2048 | 60 | 69 | ||||||
4.300%, 03/25/2028 | 80 | 86 | ||||||
3.875%, 07/20/2025 | 95 | 100 | ||||||
3.625%, 04/01/2027 | 180 | 183 | ||||||
3.350%, 03/09/2021 | 32 | 32 | ||||||
2.800%, 07/20/2020 | 190 | 190 | ||||||
CVS Pass-Through Trust | ||||||||
7.507%, 01/10/2032 (B) | 1,139 | 1,480 | ||||||
Eli Lilly | ||||||||
2.350%, 05/15/2022 | 170 | 173 | ||||||
Gilead Sciences | ||||||||
2.550%, 09/01/2020 | 20 | 20 | ||||||
2.500%, 09/01/2023 | 50 | 50 | ||||||
Humana | ||||||||
3.150%, 12/01/2022 | 240 | 240 | ||||||
2.900%, 12/15/2022 | 290 | 288 |
8 | New Covenant Funds / Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
CORPORATE OBLIGATIONS (continued) |
| |||||||
Pfizer | ||||||||
2.625%, 04/01/2030 | $ | 80 | $ | 84 | ||||
SSM Health Care | ||||||||
3.688%, 06/01/2023 | 644 | 654 | ||||||
Teva Pharmaceutical Finance BV | ||||||||
2.950%, 12/18/2022 | 30 | 28 | ||||||
Thermo Fisher Scientific | ||||||||
4.133%, 03/25/2025 | 463 | 496 | ||||||
UnitedHealth Group | ||||||||
3.875%, 12/15/2028 | 30 | 34 | ||||||
2.875%, 12/15/2021 | 50 | 51 | ||||||
2.700%, 07/15/2020 | 70 | 70 | ||||||
|
|
| ||||||
9,736 | ||||||||
|
|
| ||||||
Industrials — 2.6% | ||||||||
3M | ||||||||
3.700%, 04/15/2050 | 140 | 158 | ||||||
2.375%, 08/26/2029 | 30 | 30 | ||||||
AerCap Ireland Capital DAC | ||||||||
4.625%, 10/30/2020 | 730 | 708 | ||||||
4.500%, 05/15/2021 | 310 | 284 | ||||||
American Airlines,Ser 2016-3, Cl A | ||||||||
3.250%, 10/15/2028 | 1,087 | 986 | ||||||
American Airlines Pass-Through Trust,Ser 2013-2, Cl A | ||||||||
4.950%, 01/15/2023 | 271 | 276 | ||||||
Aviation Capital Group | ||||||||
4.125%, 08/01/2025 (B) | 160 | 138 | ||||||
Burlington Northern and Santa Fe Railway Pass-Through Trust,Ser 2002-2 | ||||||||
5.140%, 01/15/2021 | – | – | ||||||
Burlington Northern Santa Fe | ||||||||
4.550%, 09/01/2044 | 10 | 12 | ||||||
Continental Airlines Pass-Through Trust,Ser 2012-2, Cl A | ||||||||
4.000%, 10/29/2024 | 635 | 614 | ||||||
Deere | ||||||||
3.750%, 04/15/2050 | 40 | 46 | ||||||
3.100%, 04/15/2030 | 10 | 11 | ||||||
Delta Air Lines Pass-Through Trust, Ser 2015-1, Cl AA | ||||||||
3.625%, 07/30/2027 | 530 | 481 | ||||||
Delta Air Lines Pass-Through Trust, Ser 2019-1, Cl AA | ||||||||
3.204%, 04/25/2024 | 621 | 606 | ||||||
Eaton | ||||||||
2.750%, 11/02/2022 | 450 | 450 | ||||||
GE Capital International Funding Unlimited Co | ||||||||
2.342%, 11/15/2020 | 1,205 | 1,185 | ||||||
General Electric MTN | ||||||||
6.875%, 01/10/2039 | 30 | 37 |
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
CORPORATE OBLIGATIONS (continued) |
| |||||||
General Electric Capital MTN | ||||||||
5.300%, 02/11/2021 | $ | 160 | $ | 162 | ||||
International Lease Finance | ||||||||
5.875%, 08/15/2022 | 400 | 368 | ||||||
Republic Services | ||||||||
3.200%, 03/15/2025 | 180 | 185 | ||||||
Union Pacific | ||||||||
3.950%, 09/10/2028 | 20 | 21 | ||||||
3.750%, 07/15/2025 | 20 | 21 | ||||||
United Airlines Pass-Through Trust, Ser 2014- 1, Cl A | ||||||||
4.000%, 04/11/2026 | 707 | 699 | ||||||
United Parcel Service | ||||||||
3.900%, 04/01/2025 | 398 | 432 | ||||||
Waste Management | ||||||||
3.500%, 05/15/2024 | 120 | 125 | ||||||
3.450%, 06/15/2029 | 30 | 31 | ||||||
3.200%, 06/15/2026 | 30 | 31 | ||||||
|
|
| ||||||
8,097 | ||||||||
|
|
| ||||||
Information Technology — 1.6% | ||||||||
Adobe | ||||||||
2.300%, 02/01/2030 | 210 | 210 | ||||||
Apple | ||||||||
3.350%, 02/09/2027 | 210 | 229 | ||||||
2.900%, 09/12/2027 | 110 | 117 | ||||||
2.450%, 08/04/2026 | 70 | 73 | ||||||
2.000%, 11/13/2020 | 80 | 80 | ||||||
Broadcom | ||||||||
3.625%, 10/15/2024 (B) | 485 | 477 | ||||||
Diamond 1 Finance | ||||||||
4.420%, 06/15/2021 (B) | 430 | 430 | ||||||
Intel | ||||||||
4.950%, 03/25/2060 | 30 | 41 | ||||||
4.750%, 03/25/2050 | 130 | 175 | ||||||
4.600%, 03/25/2040 | 10 | 12 | ||||||
3.700%, 07/29/2025 | 30 | 33 | ||||||
Mastercard | ||||||||
3.375%, 04/01/2024 | 190 | 200 | ||||||
Microsoft | ||||||||
3.300%, 02/06/2027 | 90 | 100 | ||||||
2.400%, 02/06/2022 | 150 | 154 | ||||||
1.550%, 08/08/2021 | 110 | 111 | ||||||
NVIDIA | ||||||||
3.700%, 04/01/2060 | 80 | 90 | ||||||
3.500%, 04/01/2040 | 130 | 138 | ||||||
3.500%, 04/01/2050 | 280 | 305 | ||||||
2.850%, 04/01/2030 | 40 | 42 | ||||||
NXP BV | ||||||||
4.625%, 06/01/2023 (B) | 479 | 493 | ||||||
Oracle | ||||||||
2.500%, 10/15/2022 | 130 | 133 |
New Covenant Funds / Quarterly Report / March 31, 2020 | 9 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
CORPORATE OBLIGATIONS (continued) |
| |||||||
2.500%, 04/01/2025 | $ | 738 | $ | 745 | ||||
salesforce.com | ||||||||
3.700%, 04/11/2028 | 150 | 166 | ||||||
3.250%, 04/11/2023 | 70 | 73 | ||||||
Visa | ||||||||
4.300%, 12/14/2045 | 10 | 13 | ||||||
3.150%, 12/14/2025 | 110 | 120 | ||||||
2.200%, 12/14/2020 | 300 | 301 | ||||||
|
|
| ||||||
5,061 | ||||||||
|
|
| ||||||
Materials — 0.5% |
| |||||||
ArcelorMittal |
| |||||||
4.550%, 03/11/2026 | 100 | 90 | ||||||
3.600%, 07/16/2024 | 180 | 164 | ||||||
Equate Petrochemical BV MTN | ||||||||
4.250%, 11/03/2026 (B) | 200 | 190 | ||||||
Glencore Funding | ||||||||
4.125%, 05/30/2023 (B) | 890 | 820 | ||||||
4.125%, 03/12/2024 (B) | 110 | 101 | ||||||
4.000%, 03/27/2027 (B) | 110 | 100 | ||||||
Southern Copper | ||||||||
3.500%, 11/08/2022 | 130 | 127 | ||||||
Vale Overseas | ||||||||
6.250%, 08/10/2026 | 140 | 151 | ||||||
|
|
| ||||||
1,743 | ||||||||
|
|
| ||||||
Real Estate — 0.9% |
| |||||||
American Tower Trust, |
| |||||||
3.070%, 03/15/2048 (B) | 620 | 609 | ||||||
Digital Realty Trust | ||||||||
3.600%, 07/01/2029 | 815 | 795 | ||||||
Ventas Realty | ||||||||
3.500%, 02/01/2025 | 488 | 478 | ||||||
Welltower | ||||||||
4.500%, 01/15/2024 | 902 | 930 | ||||||
|
|
| ||||||
2,812 | ||||||||
|
|
| ||||||
Utilities — 1.6% |
| |||||||
Aquarion |
| |||||||
4.000%, 08/15/2024 (B) | 227 | 227 | ||||||
Commonwealth Edison | ||||||||
3.700%, 08/15/2028 | 468 | 500 | ||||||
Dominion Energy | ||||||||
2.579%, 07/01/2020 | 260 | 260 | ||||||
Duke Energy | ||||||||
3.550%, 09/15/2021 | 170 | 172 | ||||||
2.400%, 08/15/2022 | 150 | 150 | ||||||
FirstEnergy | ||||||||
4.250%, 03/15/2023 | 380 | 388 | ||||||
2.850%, 07/15/2022 | 330 | 322 | ||||||
NextEra Energy Capital Holdings | ||||||||
2.403%, 09/01/2021 | 513 | 513 |
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
CORPORATE OBLIGATIONS (continued) |
| |||||||
Northern States Power |
| |||||||
7.125%, 07/01/2025 | $ | 1,190 | $ | 1,397 | ||||
Perusahaan Listrik Negara | ||||||||
MTN 5.450%, 05/21/2028 (B) | 370 | 386 | ||||||
Public Service Enterprise Group | ||||||||
2.875%, 06/15/2024 | 713 | 711 | ||||||
|
|
| ||||||
5,026 | ||||||||
|
|
| ||||||
Total Corporate Obligations | 95,730 | |||||||
|
|
| ||||||
ASSET-BACKED SECURITIES — 9.0% |
| |||||||
Automotive — 1.9% |
| |||||||
Avis Budget Rental Car Funding AESOP,Ser 2017-2A, Cl A | ||||||||
2.970%, 03/20/2024 (B) | 310 | 291 | ||||||
Avis Budget Rental Car Funding AESOP, Ser 2019-2A, Cl A | ||||||||
3.350%, 09/22/2025 (B) | 320 | 303 | ||||||
Capital One Prime Auto Receivables Trust,Ser 2019-2, Cl A4 | ||||||||
1.960%, 02/18/2025 | 1,662 | 1,711 | ||||||
Hertz Vehicle Financing II,Ser 2018-1A, Cl A | ||||||||
3.290%, 02/25/2024 (B) | 250 | 236 | ||||||
Honda Auto Receivables Owner Trust,Ser 2019-2, Cl A3 | ||||||||
2.520%, 06/21/2023 | 572 | 578 | ||||||
NextGear Floorplan Master Owner Trust,Ser 2019-1A, Cl A2 | ||||||||
3.210%, 02/15/2024 (B) | 1,182 | 1,112 | ||||||
NextGear Floorplan Master Owner Trust,Ser 2019-2A, Cl A2 | ||||||||
2.070%, 10/15/2024 (B) | 556 | 520 | ||||||
World Omni Auto Receivables Trust,Ser 2019-B, Cl A3 | ||||||||
2.590%, 07/15/2024 | 1,299 | 1,306 | ||||||
|
|
| ||||||
6,057 | ||||||||
|
|
| ||||||
Home — 0.4% |
| |||||||
Citifinancial Mortgage Securities, Ser 2004-1, Cl AF4 | ||||||||
5.070%, 04/25/2034 | 200 | 200 | ||||||
Lake Country Mortgage Loan Trust,Ser 2006-HE1, Cl M5 | ||||||||
2.947%, VAR ICE LIBOR USD 1 | 390 | 390 | ||||||
Master Asset-Backed Securities Trust,Ser 2007-NCW, Cl A1 | ||||||||
1.247%, VAR ICE LIBOR USD 1 | 213 | 170 |
10 | New Covenant Funds / Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
ASSET-BACKED SECURITIES (continued) |
| |||||||
New Century Home Equity Loan Trust,Ser 2003-A, Cl A | ||||||||
1.667%, VAR ICE LIBOR USD 1 Month+0.720%, 10/25/2033 (B) | $ | 85 | $ | 75 | ||||
Tricon American Homes Trust, Ser 2019-SFR1, Cl A | ||||||||
2.750%, 03/17/2038 (B) | 272 | 255 | ||||||
|
|
| ||||||
1,090 | ||||||||
|
|
| ||||||
Other Asset-Backed Securities — 6.7% | ||||||||
AEP Texas Restoration Funding,Ser 2019-1, Cl A2 | ||||||||
2.294%, 08/01/2031 | 1,646 | 1,475 | ||||||
Ameriquest Mortgage Securities Asset- Backed Pass-Through Certificates,Ser 2005-R7, Cl M2 | ||||||||
1.447%, VAR ICE LIBOR USD 1 Month+0.500%, 09/25/2035 | 299 | 292 | ||||||
Applebee’s Funding,Ser 2019-1A, Cl A2I | ||||||||
4.194%, 06/07/2049 (B) | 300 | 273 | ||||||
Ascentium Equipment Receivables, Ser 2019-1A, Cl A2 | ||||||||
2.840%, 06/10/2022 (B) | 496 | 495 | ||||||
Atrium Hotel Portfolio Trust, Ser ATRM, Cl C | ||||||||
2.355%, VAR ICE LIBOR USD 1 Month+1.650%, 12/15/2036 (B) | 410 | 347 | ||||||
Citigroup Mortgage Loan Trust, Ser 2007-WFH3, Cl A3 | ||||||||
1.197%, VAR ICE LIBOR USD 1 Month+0.250%, 06/25/2037 | 235 | 229 | ||||||
Countrywide Asset-Backed Certificates,Ser 2007-13, Cl 2A2M | ||||||||
2.197%, VAR ICE LIBOR USD 1 Month+1.250%, 10/25/2047 | 151 | 131 | ||||||
Countrywide Home Equity Loan Trust,Ser 2006-F, Cl 2A1A | ||||||||
0.845%, VAR ICE LIBOR USD 1 Month+0.140%, 07/15/2036 | 312 | 283 | ||||||
Credit Suisse Mortgage Trust, Cl A3 3.064%, 10/25/2059 | 378 | 366 | ||||||
DB Master Finance,Ser 2017-1A, Cl A2I | ||||||||
3.629%, 11/20/2047 (B) | 429 | 413 | ||||||
Domino’s Pizza Master Issuer,Ser 2017-1A, Cl A2I | ||||||||
3.044%, VAR ICE LIBOR USD 3 Month+1.250%, 07/25/2047 (B) | 695 | 650 | ||||||
Education Loan Asset-Backed Trust,Ser 2013-1, Cl A2 | ||||||||
1.747%, VAR ICE LIBOR USD 1 Month+0.800%, 04/26/2032 (B) | 500 | 479 |
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
ASSET-BACKED SECURITIES (continued) |
| |||||||
Invitation Homes Trust, Ser 2018-SFR1, Cl A | ||||||||
1.500%, VAR ICE LIBOR USD 1 Month+0.700%, 03/17/2037 (B) | $ | 1,361 | $ | 1,242 | ||||
MMAF Equipment Finance,Ser 2018-A, Cl A3 | ||||||||
3.200%, 09/12/2022 (B) | 1,255 | 1,251 | ||||||
Morgan Stanley ABS Capital I Trust,Ser 2004-NC7, Cl M1 | ||||||||
1.802%, VAR ICE LIBOR USD 1 Month+0.855%, 07/25/2034 | 473 | 407 | ||||||
Morgan Stanley Capital I Trust, Ser BPR, Cl A | ||||||||
2.105%, VAR ICE LIBOR USD 1 Month+1.400%, 05/15/2036 (B) | 320 | 291 | ||||||
Navient Student Loan Trust,Ser 2016-6A, Cl A3 | ||||||||
2.247%, VAR ICE LIBOR USD 1 Month+1.300%, 03/25/2066 (B) | 900 | 861 | ||||||
Progress Residential Trust, Ser 2018-SFR3, Cl A | ||||||||
3.880%, 10/17/2035 (B) | 640 | 632 | ||||||
RAAC Series Trust,Ser 2005-SP3, Cl M2 | ||||||||
1.747%, VAR ICE LIBOR USD 1 Month+0.800%, 12/25/2035 | 390 | 374 | ||||||
Residential Mortgage Loan Trust, Ser 2019-3, Cl A2 | ||||||||
2.941%, 09/25/2059 | 375 | 361 | ||||||
Residential Mortgage Loan Trust, Ser 2019-3, Cl A3 | ||||||||
3.044%, 09/25/2059 | 375 | 360 | ||||||
SBA Small Business Investment, Ser 2019-10A, Cl 1 | ||||||||
3.113%, 03/10/2029 | 181 | 184 | ||||||
Shops at Crystals Trust, Ser CSTL, Cl A | ||||||||
3.126%, 07/05/2036 (B) | 100 | 94 | ||||||
SLC Student Loan Trust,Ser 2010-1, Cl A | ||||||||
2.554%, VAR ICE LIBOR USD 3 Month+0.875%, 11/25/2042 | 261 | 257 | ||||||
SLM Private Credit Student Loan Trust,Ser 2006-A, Cl A5 | ||||||||
1.031%, VAR ICE LIBOR USD 3 Month+0.290%, 06/15/2039 | 273 | 262 | ||||||
SLM Student Loan Trust,Ser 2003-7A, Cl A5A | ||||||||
1.941%, VAR ICE LIBOR USD 3 Month+1.200%, 12/15/2033 (B) | 136 | 132 | ||||||
Stack Infrastructure Issuer,Ser 2019-1A, Cl A2 | ||||||||
4.540%, 02/25/2044 (B) | 468 | 458 | ||||||
Store Master FundingI-VII,Ser 2018-1A, Cl A1 | ||||||||
3.960%, 10/20/2048 (B) | 380 | 377 | ||||||
Store Master FundingI-VII,Ser 2019-1, Cl A1 | ||||||||
2.820%, 11/20/2049 (B) | 329 | 310 |
New Covenant Funds / Quarterly Report / March 31, 2020 | 11 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
ASSET-BACKED SECURITIES (continued) |
| |||||||
United States Small Business Administration, | ||||||||
Ser 2010-20H, Cl | $ | 263 | $ | 275 | ||||
United States Small Business Administration, | ||||||||
Ser 2011-20B, Cl | 267 | 290 | ||||||
United States Small Business Administration, | ||||||||
Ser 2011-20J, Cl | 181 | 188 | ||||||
United States Small Business Administration, | ||||||||
Ser 2013-20K, Cl | 761 | 800 | ||||||
United States Small Business Administration, | ||||||||
Ser 2014-20F, Cl | 870 | 896 | ||||||
United States Small Business Administration, | ||||||||
Ser 2015-20C, Cl | 805 | 819 | ||||||
United States Small Business Administration, | ||||||||
Ser 2015-20E, Cl | 481 | 496 | ||||||
United States Small Business Administration, | ||||||||
Ser 2015-20K, Cl | 518 | 531 | ||||||
United States Small Business Administration, | ||||||||
Ser 2017-20J, Cl | 662 | 682 | ||||||
United States Small Business Administration, | ||||||||
Ser 2018-20E, Cl | 1,279 | 1,369 | ||||||
United States Small Business Administration, | ||||||||
Ser 2018-20J, Cl | 634 | 691 | ||||||
United States Small Business Administration, | ||||||||
Ser 2019-25G, Cl | 59 | 61 | ||||||
Verizon Owner Trust,Ser 2019-B, Cl A1A | ||||||||
2.330%, 12/20/2023 | 624 | 628 | ||||||
Wendy’s Funding,Ser 2019-1A, Cl A2I | ||||||||
3.783%, 06/15/2049 (B) | 336 | 319 | ||||||
|
| |||||||
21,331 | ||||||||
|
| |||||||
Total Asset-Backed Securities | 28,478 | |||||||
|
| |||||||
U.S. TREASURY OBLIGATIONS — 7.2% |
| |||||||
U.S. Treasury Bonds | ||||||||
3.625%, 02/15/2044 | 240 | 356 | ||||||
3.125%, 05/15/2048 | 140 | 198 | ||||||
3.000%, 02/15/2049 | 360 | 502 | ||||||
2.875%, 05/15/2049 | 20 | 27 | ||||||
2.750%, 08/15/2047 | 120 | 159 |
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
U.S. TREASURY OBLIGATIONS (continued) |
| |||||||
2.500%, 02/15/2045 | $ | 70 | $ | 88 | ||||
2.250%, 08/15/2049 | 40 | 49 | ||||||
U.S. Treasury Inflation-Protected Securities | ||||||||
2.375%, 01/15/2025 | 178 | 197 | ||||||
1.750%, 01/15/2028 | 86 | 98 | ||||||
1.375%, 02/15/2044 | 542 | 695 | ||||||
1.000%, 02/15/2046 | 392 | 476 | ||||||
1.000%, 02/15/2048 | 460 | 567 | ||||||
1.000%, 02/15/2049 | 2,173 | 2,634 | ||||||
0.750%, 02/15/2042 | 468 | 524 | ||||||
0.250%, 02/15/2050 | 893 | 920 | ||||||
0.125%, 10/15/2024 | 3,034 | 3,071 | ||||||
U.S. Treasury Notes | ||||||||
2.625%, 02/15/2029 | 52 | 61 | ||||||
2.250%, 04/30/2024 | 30 | 32 | ||||||
2.000%, 11/15/2026 | 100 | 109 | ||||||
1.750%, 06/30/2024 | 7,211 | 7,636 | ||||||
1.625%, 12/15/2022 | 30 | 31 | ||||||
1.500%, 02/15/2030 | 733 | 789 | ||||||
1.375%, 01/31/2025 | 580 | 608 | ||||||
1.125%, 02/28/2025 | 2,816 | 2,919 | ||||||
|
| |||||||
Total U.S. Treasury Obligations | 22,746 | |||||||
|
| |||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS — 4.5% |
| |||||||
FHLMC | ||||||||
6.500%, 12/01/2035 | 698 | 797 | ||||||
6.000%, 03/01/2035 | 1,108 | 1,276 | ||||||
5.000%, 10/01/2048 | 59 | 63 | ||||||
4.000%, 04/01/2048 | 75 | 80 | ||||||
4.000%, 05/01/2048 | 584 | 624 | ||||||
3.500%, 09/01/2048 | 480 | 507 | ||||||
3.500%, 10/01/2048 | 661 | 698 | ||||||
3.500%, 01/01/2049 | 68 | 72 | ||||||
3.000%, 02/01/2038 | 79 | 83 | ||||||
3.000%, 04/01/2038 | 78 | 82 | ||||||
3.000%, 11/01/2043 | 619 | 659 | ||||||
3.000%, 01/01/2048 | 92 | 97 | ||||||
3.000%, 03/01/2049 | 82 | 86 | ||||||
2.375%, 01/13/2022 | 1,090 | 1,128 | ||||||
FHLMC, Ser 2018-4813, Cl CJ | ||||||||
3.000%, 08/15/2048 | 182 | 188 |
12 | New Covenant Funds / Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS (continued) |
| |||||||
FNMA |
| |||||||
4.500%, 09/01/2057 | $ | 222 | $ | 247 | ||||
4.000%, 02/01/2056 | 66 | 74 | ||||||
4.000%, 06/01/2057 | 73 | 81 | ||||||
3.500%, 10/01/2047 | 1,160 | 1,225 | ||||||
3.500%, 06/01/2048 | 586 | 621 | ||||||
3.500%, 07/01/2048 | 398 | 420 | ||||||
3.500%, 02/01/2049 | 89 | 95 | ||||||
3.000%, 12/01/2037 | 77 | 81 | ||||||
3.000%, 03/01/2046 | 1,220 | 1,290 | ||||||
3.000%, 05/01/2046 | 82 | 86 | ||||||
3.000%, 07/01/2046 | 140 | 148 | ||||||
3.000%, 10/01/2046 | 215 | 227 | ||||||
3.000%, 11/01/2046 | 1,752 | 1,854 | ||||||
3.000%, 09/01/2047 | 332 | 350 | ||||||
FNMA, Ser M1, Cl A2 | ||||||||
3.555%, 09/25/2028 (A) | 300 | 342 | ||||||
Tennessee Valley Authority | ||||||||
3.875%, 02/15/2021 | 790 | 812 | ||||||
|
|
| ||||||
Total U.S. Government Agency Obligations (Cost $13,593) ($ Thousands) |
| 14,393 | ||||||
|
|
| ||||||
SOVEREIGN DEBT — 3.2% | ||||||||
Abu Dhabi Government International Bond | ||||||||
2.500%, 10/11/2022 (B) | 490 | 491 | ||||||
Colombia Government International Bond | ||||||||
5.625%, 02/26/2044 | 280 | 307 | ||||||
5.200%, 05/15/2049 | 310 | 325 | ||||||
4.500%, 03/15/2029 | 200 | 205 | ||||||
Indonesia Government International Bond MTN | ||||||||
5.125%, 01/15/2045 (B) | 200 | 223 | ||||||
3.850%, 07/18/2027 (B) | 200 | 202 | ||||||
3.750%, 04/25/2022 | 370 | 372 | ||||||
Kuwait International Government Bond | ||||||||
3.500%, 03/20/2027 (B) | 210 | 218 | ||||||
Mexico Government International Bond | ||||||||
4.000%, 10/02/2023 | 610 | 622 | ||||||
3.600%, 01/30/2025 | 380 | 386 | ||||||
Panama Government International Bond | ||||||||
6.700%, 01/26/2036 | 190 | 243 | ||||||
4.300%, 04/29/2053 | 300 | 323 | ||||||
Peruvian Government International Bond | ||||||||
6.550%, 03/14/2037 | 250 | 363 | ||||||
5.625%, 11/18/2050 | 310 | 462 | ||||||
Poland Government International Bond | ||||||||
5.125%, 04/21/2021 | 440 | 456 | ||||||
4.000%, 01/22/2024 | 450 | 489 |
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
SOVEREIGN DEBT (continued) |
| |||||||
Province of Ontario Canada |
| |||||||
4.400%, 04/14/2020 | $ | 840 | $ | 841 | ||||
Province of Quebec Canada | ||||||||
2.625%, 02/13/2023 | 500 | 527 | ||||||
Province of Quebec Canada, Ser A MTN | ||||||||
6.350%, 01/30/2026 | 1,010 | 1,274 | ||||||
Qatar Government International Bond | ||||||||
3.250%, 06/02/2026 | 370 | 375 | ||||||
Russian Foreign Bond - Eurobond | ||||||||
7.500%, 03/31/2030 | 149 | 169 | ||||||
5.875%, 09/16/2043 | 400 | 496 | ||||||
5.625%, 04/04/2042 | 400 | 486 | ||||||
Uruguay Government International Bond | ||||||||
4.375%, 01/23/2031 | 390 | 424 | ||||||
|
| |||||||
Total Sovereign Debt | 10,279 | |||||||
|
| |||||||
FOREIGN BONDS — 1.7% | ||||||||
Allergan Funding SCS | ||||||||
3.800%, 03/15/2025 | 40 | 41 | ||||||
3.450%, 03/15/2022 | 120 | 124 | ||||||
Banco Santander | ||||||||
3.125%, 02/23/2023 | 200 | 191 | ||||||
Banco Santander Chile | ||||||||
2.500%, 12/15/2020 (B) | 240 | 238 | ||||||
Barclays Bank | ||||||||
10.179%, 06/12/2021 (B) | 370 | 395 | ||||||
BHP Billiton Finance USA | ||||||||
2.875%, 02/24/2022 | 10 | 10 | ||||||
BP Capital Markets PLC | ||||||||
3.561%, 11/01/2021 | 230 | 232 | ||||||
CNOOC Finance | ||||||||
3.500%, 05/05/2025 | 330 | 347 | ||||||
Cooperatieve Rabobank UA | ||||||||
4.375%, 08/04/2025 | 500 | 512 | ||||||
Ecopetrol | ||||||||
5.375%, 06/26/2026 | 140 | 136 | ||||||
HSBC Holdings PLC | ||||||||
4.250%, 08/18/2025 | 230 | 238 | ||||||
Intesa Sanpaolo | ||||||||
5.017%, 06/26/2024 (B) | 200 | 196 | ||||||
3.125%, 07/14/2022 (B) | 200 | 191 | ||||||
OCP | ||||||||
4.500%, 10/22/2025 (B) | 400 | 377 | ||||||
Petrobras Global Finance BV | ||||||||
6.850%, 06/05/2115 | 150 | 142 | ||||||
Petroleos del Peru | ||||||||
4.750%, 06/19/2032 (B) | 400 | 364 |
New Covenant Funds / Quarterly Report / March 31, 2020 | 13 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
FOREIGN BONDS (continued) |
| |||||||
Petroleos Mexicanos | ||||||||
4.875%, 01/18/2024 | $ | 190 | $ | 149 | ||||
Shell International Finance BV | ||||||||
3.250%, 05/11/2025 | 150 | 157 | ||||||
2.875%, 05/10/2026 | 40 | 41 | ||||||
2.250%, 11/10/2020 | 360 | 358 | ||||||
1.750%, 09/12/2021 | 690 | 687 | ||||||
Telefonica Emisiones SAU | ||||||||
5.134%, 04/27/2020 | 80 | 80 | ||||||
Teva Pharmaceutical Finance Netherlands III BV | ||||||||
2.200%, 07/21/2021 | 227 | 217 | ||||||
Vale Overseas | ||||||||
6.875%, 11/21/2036 | 48 | 53 | ||||||
|
|
| ||||||
Total Foreign Bonds | 5,476 | |||||||
|
|
| ||||||
MUNICIPAL BONDS — 1.0% | ||||||||
Florida — 0.1% | ||||||||
Florida State, Board of Administration Finance, Ser A, RB | ||||||||
2.638%, 07/01/2021 | 420 | 420 | ||||||
|
|
| ||||||
Michigan — 0.3% | ||||||||
Michigan State, Finance Authority, RB Callable 03/01/2024 @ 100 | ||||||||
2.988%, 09/01/2049 (D) | 755 | 748 | ||||||
|
|
| ||||||
New Jersey — 0.1% | ||||||||
New Jersey State Transportation Trust Fund Authority, RB | ||||||||
2.551%, 06/15/2023 | 125 | 128 | ||||||
|
|
|
Description | Face Amount (Thousands) | Market Value ($ Thousands) | ||||||
MUNICIPAL BONDS (continued) |
| |||||||
New York — 0.2% | ||||||||
New York State, Urban Development, RB | ||||||||
3.350%, 03/15/2026 | $ | 665 | $ | 721 | ||||
|
| |||||||
Wisconsin — 0.3% | ||||||||
Wisconsin State, Ser A, RB, AGM | ||||||||
5.700%, 05/01/2026 | 890 | 1,010 | ||||||
|
| |||||||
Total Municipal Bonds | 3,027 | |||||||
|
| |||||||
Shares | ||||||||
CASH EQUIVALENT — 1.0% | ||||||||
SEI Daily Income Trust, Government Fund, Cl F | ||||||||
0.290%**† | 3,082,752 | 3,083 | ||||||
|
| |||||||
Total Cash Equivalent | 3,083 | |||||||
|
| |||||||
Total Investments in Securities — 103.7% (Cost $324,312) ($ Thousands) | $ | 328,826 | ||||||
|
| |||||||
Contracts | ||||||||
PURCHASED OPTIONS*(E) — 0.0% |
| |||||||
Total Purchased Options (Cost $23) ($ Thousands) | 392 | $ | 6 | |||||
|
| |||||||
WRITTEN OPTIONS* — (0.1)% | ||||||||
Total Written Options(E) (Premiums Received $206) ($ Thousands) | (326 | ) | $ | (125 | ) | |||
|
|
A list of open option contracts held by the Fund at March 31, 2020 are as follows:
Description | Number of Contracts | Notional Amount (Thousands) | Exercise Price | Expiration Date | Value (Thousands) | |||||||||||||||
PURCHASED OPTIONS — 0.0% |
| |||||||||||||||||||
Put Options | ||||||||||||||||||||
May 2020, U.S. 10 Year Future Option* | 16 | $ | 2,051 | $ | 132.00 | 4/18/2020 | $ | 1 | ||||||||||||
May 2020, U.S. 2 Year Future Option* | 75 | – | 85.00 | 4/18/2020 | – | |||||||||||||||
May 2020, U.S. 5 Year Future Option* | 111 | – | 100.00 | 4/18/2020 | 1 | |||||||||||||||
May 2020, U.S. 5 Year Future Option* | 133 | 15,775 | 112.50 | 4/18/2020 | 3 | |||||||||||||||
May 2020, U.S. 5 Year Future Option* | 57 | 6,761 | 113.50 | 4/18/2020 | 1 | |||||||||||||||
|
|
|
| |||||||||||||||||
Total Purchased Options | $ | 24,587 | $ | 6 | ||||||||||||||||
|
|
|
| |||||||||||||||||
WRITTEN OPTIONS — 0.0% | ||||||||||||||||||||
Put Options | ||||||||||||||||||||
May 2020, U.S. 10 Year Future Option* | (15 | ) | $ | (1,923 | ) | 131.00 | 04/18/20 | $ | (1 | ) |
14 | New Covenant Funds / Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
Description | Number of Contracts | Notional Amount (Thousands) | Exercise Price | Expiration Date | Value (Thousands) | |||||||||||||||
WRITTEN OPTIONS (continued) | ||||||||||||||||||||
June 2020, U.S. 5 Year Future Option* | (52) | $ | (6,168) | $124.00 | 05/16/20 | $ | (11) | |||||||||||||
June 2020, U.S. 5 Year Future Option* | (26) | (3,084) | 124.50 | 05/16/20 | (8) | |||||||||||||||
June 2020, U.S. 5 Year Future Option* | (1) | (119) | 124.75 | 05/16/20 | – | |||||||||||||||
May 2020, U.S. 5 Year Future Option* | (20) | (2,372) | 122.50 | 04/18/20 | (1) | |||||||||||||||
May 2020, U.S. 5 Year Future Option* | (20) | (2,372) | 122.75 | 04/18/20 | (1) | |||||||||||||||
May 2020, U.S. 5 Year Future Option* | (85) | (10,082) | 124.00 | 04/18/20 | (9) | |||||||||||||||
May 2020, U.S. 5 Year Future Option* | (28) | (3,321) | 124.25 | 04/18/20 | (4) | |||||||||||||||
May 2020, U.S. 5 Year Future Option* | (33) | (3,914) | 124.50 | 04/18/20 | (5) | |||||||||||||||
|
|
|
| |||||||||||||||||
(33,355) | (40) | |||||||||||||||||||
|
|
|
| |||||||||||||||||
Call Options | ||||||||||||||||||||
May 2020, U.S. 10 Year Future Option* | (16) | (2,051) | 135.00 | 04/18/20 | (61) | |||||||||||||||
May 2020, U.S. 10 Year Future Option* | (15) | (1,923) | 138.00 | 04/18/20 | (20) | |||||||||||||||
May 2020, U.S. 10 Year Future Option* | (15) | (1,923) | 141.00 | 04/18/20 | (4) | |||||||||||||||
|
|
|
| |||||||||||||||||
(5,897) | (85) | |||||||||||||||||||
|
|
|
| |||||||||||||||||
Total Written Options | $ | (39,252) | $ | (125) | ||||||||||||||||
|
|
|
|
A list of the open futures contracts held by the Fund at March 31, 2020 are as follows:
Type of Contract | Number of Contracts Long/(Short) | Expiration Date | Notional Amount (Thousands) | Value (Thousands) | Unrealized Appreciation (Depreciation) (Thousands) | |||||||||||||||
90-Day Euro$ | 33 | Dec-2020 | $ | 8,085 | $ | 8,222 | $ | 137 | ||||||||||||
90-Day Euro$ | (108) | Dec-2021 | (26,770) | (26,912) | (142) | |||||||||||||||
90-Day Euro$ | (141) | Mar-2021 | (35,132) | (35,150) | (18) | |||||||||||||||
90-Day Euro$ | 338 | Jun-2020 | 83,300 | 84,056 | 756 | |||||||||||||||
U.S.10-Year Treasury Note | (38) | Jun-2020 | (5,158) | (5,270) | (112) | |||||||||||||||
U.S.2-Year Treasury Note | 147 | Jul-2020 | 32,135 | 32,396 | 261 | |||||||||||||||
U.S.5-Year Treasury Note | 510 | Jul-2020 | 62,240 | 63,933 | 1,693 | |||||||||||||||
U.S. Long Treasury Bond | (184) | Mar-2020 | (30,585) | (32,947) | (2,362) | |||||||||||||||
U.S. Ultra Long Treasury Bond | 2 | Jun-2020 | 419 | 444 | 25 | |||||||||||||||
Ultra10-Year U.S. Treasury Note | 10 | Jun-2020 | 1,460 | 1,560 | 100 | |||||||||||||||
|
|
|
|
|
| |||||||||||||||
$ | 89,994 | $ | 90,332 | $ | 338 | |||||||||||||||
|
|
|
|
|
|
The futures contracts are considered to have interest rate risk associated with them.
Percentages are based on Net Assets of $317,179 ($ Thousands). |
* | Non-income producing security. |
** | The rate reported is the7-day effective yield as of March 31, 2020. |
† | Investment in Affiliated Security. |
(A) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. |
(B) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On March 31, 2020, the value of these securities amounted to $54,112 ($ Thousands), representing 17.1% of the Net Assets of the Fund. |
(C) | Zero coupon security. The rate shown on the Schedule of Investments is the security’s effective yield at the time of purchase. |
(D) | Variable or floating rate security, the interest rate of which adjusts periodically based on prevailing interest rates. |
(E) | Refer to table below for details on Options Contracts. |
ABS — Asset-Backed Security
AGM— Assured Guaranty Municipal
Cl — Class
CMO — Collateralized Mortgage Obligation
DAC — Designated Activity Company
FHLMC — Federal Home Loan Mortgage Corporation
FNMA — Federal National Mortgage Association
GNMA — Government National Mortgage Association
ICE— Intercontinental Exchange
IO — Interest Only — face amount represents notional amount.
JSC — Joint-Stock Company
LIBOR — London Interbank Offered Rate
MTN — Medium Term Note
PLC — Public Limited Company
New Covenant Funds / Quarterly Report / March 31, 2020 | 15 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
RB — Revenue Bond
Ser — Series
TBA — To Be Announced
USD — United States Dollar
VAR — Variable Rate
The following is a list of the level of inputs used as of March 31, 2020, in valuing the Fund’s investments and other financial instruments carried at value ($ Thousands).
Investments in Securities | Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | ||||||||||||
Mortgage-Backed Securities | – | 145,614 | – | 145,614 | ||||||||||||
Corporate Obligations | – | 95,730 | – | 95,730 | ||||||||||||
Asset-Backed Securities | – | 28,478 | – | 28,478 | ||||||||||||
U.S. Treasury Obligations | – | 22,746 | – | 22,746 | ||||||||||||
U.S. Government Agency Obligations | – | 14,393 | – | 14,393 | ||||||||||||
Sovereign Debt | – | 10,279 | – | 10,279 | ||||||||||||
Foreign Bonds | – | 5,476 | – | 5,476 | ||||||||||||
Municipal Bonds | – | 3,027 | – | 3,027 | ||||||||||||
Cash Equivalent | 3,083 | – | – | 3,083 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | 3,083 | 325,743 | – | 328,826 | ||||||||||||
|
|
|
|
|
|
|
|
Other Financial Instruments | Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | ||||||||||||
Purchased Options | 6 | — | — | 6 | ||||||||||||
Written Options | (125) | — | — | (125) | ||||||||||||
Futures Contracts * | ||||||||||||||||
Unrealized Appreciation | 2,972 | — | — | 2,972 | ||||||||||||
Unrealized Depreciation | (2,634) | — | — | (2,634) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Other Financial Instruments | 219 | — | — | 219 | ||||||||||||
|
|
|
|
|
|
|
|
*Futures contracts are value at the unrealized appreciation (depreciation) on the instrument.
For the period ended March 31, 2019, there were no transfers in or out of Level 3.
Amounts designated as “—” are $0 or have been rounded to $0.
For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
16 | New Covenant Funds / Quarterly Report / March 31, 2020 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Income Fund(Continued)
The following is a summary of the Fund’s transactions with affiliates for the period ended March 31, 2020 ($ Thousands):
Security Description | Value at 6/30/2019 | Purchases at Cost | Proceeds from Sales | Realized Gain/ (Loss) | Change in Unrealized Appreciation (Depreciation) | Value 3/31/2020 | Shares | Dividend Income | Capital Gains | |||||||||
SEI Daily Income Trust, Government | $ 11,031 | $ 116,345 | $ (124,293) | $ — | $ — | $ 3,083 | 3,082,752 | $ 68 | $ — | |||||||||
|
|
|
|
|
|
|
|
New Covenant Funds / Quarterly Report / March 31, 2020 | 17 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Balanced Growth Fund
Description | Shares | Market Value ($ Thousands) | ||||||
AFFILIATED INVESTMENT FUNDS — 99.0% |
| |||||||
Equity Fund — 60.6% | ||||||||
New Covenant Growth Fund† | 4,409,963 | $ | 157,524 | |||||
|
|
| ||||||
Total Equity Fund | 157,524 | |||||||
|
|
| ||||||
Fixed Income Fund — 38.4% |
| |||||||
New Covenant Income Fund† | 4,255,207 | 99,997 | ||||||
|
|
| ||||||
Total Fixed Income Fund | 99,997 | |||||||
|
|
|
Description | Shares | Market Value ($ Thousands) | ||||||
CASH EQUIVALENT — 0.9% |
| |||||||
SEI Daily Income Trust, Government Fund, Cl F | ||||||||
0.290%**† | 2,291,971 | $ | 2,292 | |||||
|
|
| ||||||
Total Cash Equivalent | 2,292 | |||||||
|
|
| ||||||
Total Investments in Securities — 99.9% | $ | 259,813 | ||||||
|
|
|
Percentages are based on Net Assets of $259,982 ($ Thousands). |
† | Investment in Affiliated Security. |
** | Rate shown is the 7-day effective yield as of March 31, 2020. |
Cl — Class
As of March 31, 2020, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.
For the period ended March 31, 2020, there were no transfers in or out of Level 3.
For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
The following is a summary of the transactions with affiliates for the period ended March 31, 2020 ($ Thousands):
Security Description | Value at 6/30/2019 | Purchases at Cost | Proceeds from Sales | Realized Gain | Change in Unrealized (Depreciation) | Value 3/31/2020 | Shares | Dividend Income | Capital Gains | |||||||||
New Covenant Growth Fund | $ 178,591 | $ 32,760 | $ (26,389) | $ 2,295 | $ (29,733) | $ 157,524 | 4,409,963 | $ 1,841 | $ 7,788 | |||||||||
New Covenant Income Fund | 112,871 | 13,090 | (26,062) | 218 | (120) | 99,997 | 4,255,207 | 2,031 | — | |||||||||
SEI Daily Income Trust, Government Fund, Cl F | 2,176 | 22,182 | (22,066) | — | — | 2,292 | 2,291,971 | 32 | — | |||||||||
|
|
|
|
|
|
|
| |||||||||||
Totals | $ 293,638 | $68,032 | $ (74,517) | $ 2,513 | $ (29,853) | $ 259,813 | $ 3,904 | $ 7,788 | ||||||||||
|
|
|
|
|
|
|
|
New Covenant Funds/ Quarterly Report / March 31, 2020 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2020
New Covenant Balanced Income Fund
Description | Shares | Market Value ($ Thousands) | ||||||
AFFILIATED INVESTMENT FUNDS — 98.8% |
| |||||||
Fixed Income Fund — 63.3% | ||||||||
New Covenant Income Fund† | 1,934,312 | $ | 45,456 | |||||
|
|
| ||||||
Total Fixed Income Fund | 45,456 | |||||||
|
|
| ||||||
Equity Fund — 35.5% |
| |||||||
New Covenant Growth Fund† | 713,112 | 25,473 | ||||||
|
|
| ||||||
Total Equity Fund | 25,473 | |||||||
|
|
|
Description | Shares | Market Value ($ Thousands) | ||||||
CASH EQUIVALENT — 1.0% |
| |||||||
SEI Daily Income Trust, Government Fund, Cl F | ||||||||
0.290%**† | 753,999 | $ | 754 | |||||
|
|
| ||||||
Total Cash Equivalent | 754 | |||||||
|
|
| ||||||
Total Investments in Securities — 99.8% | $ | 71,683 | ||||||
|
|
|
Percentages are based on Net Assets of $71,833 ($ Thousands). |
** | Rate shown is the 7-day effective yield as of March 31, 2020. |
† | Investment in Affiliated Security. |
Cl — Class
As of March 31, 2020, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.
For the period ended March 31, 2020, there were no transfers in or out of Level 3.
For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
The following is a summary of the Fund’s transactions with affiliates for the period ended March 31, 2020 ($ Thousands):
Security Description | Value at 6/30/2019 | Purchases at Cost | Proceeds from Sales | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value 3/31/2020 | Shares | Dividend Income | Capital Gains | |||||||||
New Covenant Income Fund | $ 50,043 | $2,955 | $ (7,577) | $ (61) | $ 96 | $ 45,456 | 1,934,312 | $ 875 | $ — | |||||||||
New Covenant Growth Fund | 27,539 | 8,162 | (6,135) | 216 | (4,309) | 25,473 | 713,112 | 286 | 1,240 | |||||||||
SEI Daily Income Trust, Government Fund, Cl F | 1,207 | 7,738 | (8,191) | — | — | 754 | 753,999 | 9 | $ — | |||||||||
|
|
|
|
|
|
|
| |||||||||||
Totals | $ 78,789 | $ 18,855 | $ (21,903) | $ 155 | $ (4,213) | $ 71,683 | $ 1,170 | $ 1,240 | ||||||||||
|
|
|
|
|
|
|
|
New Covenant Funds/ Quarterly Report / March 31, 2020 | 1 |