UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-08918
HC Capital Trust
(Exact name of registrant as specified in charter)
Five Tower Bridge, 300 Barr Harbor Drive, Suite 500, West Conshohocken, PA 19428
(Address of principal executive offices) (Zip code)
Citi Fund Services Ohio, Inc., 3435 Stelzer Road, Columbus, OH 43219
(Name and address of agent for service)
Registrant’s telephone number, including area code: (800) 242-9596
Date of fiscal year end: June 30
Date of reporting period: December 31, 2013
Item 1. Reports to Stockholders.
Semiannual Report
The Value Equity Portfolio
The Institutional Value Equity Portfolio
The Growth Equity Portfolio
The Institutional Growth Equity Portfolio
The Small Capitalization-Mid Capitalization Equity Portfolio
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
The Real Estate Securities Portfolio
The Commodity Returns Strategy Portfolio
The International Equity Portfolio
The Institutional International Equity Portfolio
The Emerging Markets Portfolio
The Core Fixed Income Portfolio
The Fixed Income Opportunity Portfolio
The U.S. Government Fixed Income Securities Portfolio
The U.S. Corporate Fixed Income Securities Portfolio
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
The Short-Term Municipal Bond Portfolio
The Intermediate Term Municipal Bond Portfolio
The Intermediate Term Municipal Bond II Portfolio
December 31, 2013
December 31, 2013
We are pleased to present the December 31, 2013 Semiannual Report for the HC Capital Trust (the “Trust”).
The Trust is an open-end, series, management investment company. The Trust currently consists of nineteen separate investment portfolios (the “Portfolios”). Day-to-day portfolio management services are provided to each of the Trust’s Portfolios by one or more independent money management organizations (“Specialist Managers”). Each Specialist Manager is subject to the supervision of HC Capital Solutions which serves as the Trust’s primary investment adviser and to the general oversight of the Trust’s Board of Trustees.
The Value Equity Portfolio, seeks total return by investing in a diversified portfolio of equity securities of large companies with relatively low price-earnings ratios and high dividend yields.
The Institutional Value Equity Portfolio, seeks total return by investing in a diversified portfolio of equity securities of large companies with relatively low price-earnings ratios and high dividend yields.
The Growth Equity Portfolio, seeks capital appreciation by investing in a diversified portfolio of equity securities of large and mid-capitalization companies with superior prospects for earnings growth.
The Institutional Growth Equity Portfolio, seeks capital appreciation by investing in a diversified portfolio of equity securities of large and mid-capitalization companies with superior prospects for earnings growth.
The Small Capitalization-Mid Capitalization Equity Portfolio, seeks long-term capital appreciation by investing in a diversified portfolio of equity securities of small-capitalization companies.
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio, seeks long-term capital appreciation by investing in a diversified portfolio of equity securities of small-capitalization companies.
The Real Estate Securities Portfolio, seeks to provide a total return consisting of both capital appreciation and current income.
The Commodity Returns Strategy Portfolio, seeks capital appreciation by investing in a diversified portfolio of commodity-related instruments.
The International Equity Portfolio, seeks total return by investing in a diversified portfolio of equity securities of companies based in countries other than the United States of America.
The Institutional International Equity Portfolio, seeks total return by investing in a diversified portfolio of equity securities of companies based in countries other than the United States of America.
The Emerging Markets Portfolio, seeks total return by investing in a diversified portfolio of securities issued by companies domiciled, or doing a substantial portion of their business, in countries with a developing or emerging economy or securities market.
The Core Fixed Income Portfolio, seeks current income by investing in a diversified portfolio of debt securities, including U.S. and non-U.S. government securities, corporate debt securities, and asset-backed issues.
The Fixed Income Opportunity Portfolio, seeks to achieve above-average total return by investing in high yield securities (commonly referred to as “junk bonds”).
The U.S. Government Fixed Income Securities Portfolio, seeks to provide a moderate and sustainable level of current income, consistent with the preservation of capital by investing primarily in a diversified portfolio of U.S. Treasury and government related fixed income securities.
The U.S. Corporate Fixed Income Securities Portfolio, seeks to provide a moderate and sustainable level of current income, consistent with the preservation of capital by investing primarily in a diversified portfolio of investment grade fixed income securities issued by U.S. corporations.
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio, seeks to provide a moderate and sustainable level of current income, consistent with the preservation of capital by investing primarily in a diversified portfolio of publicly issued mortgage and asset backed securities.
The Short-Term Municipal Bond Portfolio, seeks current income exempt from Federal income tax, consistent with preservation of capital, by investing primarily in securities issued by municipalities and related securities.
The Intermediate Term Municipal Bond Portfolio, seeks current income exempt from Federal income tax by investing in securities issued by municipalities and related entities.
The Intermediate Term Municipal Bond II Portfolio, seeks current income exempt from Federal income tax by investing in securities issued by municipalities and related entities.
Shares | Security Description | Value (000) | ||||||
Common Stocks — 89.74% | ||||||||
Advertising — 0.24% | ||||||||
20,583 | Omnicom Group, Inc. | $ | 1,531 | |||||
Aerospace & Defense — 1.89% | ||||||||
23,435 | General Dynamics Corp. | 2,239 | ||||||
26,523 | Honeywell International, Inc. | 2,423 | ||||||
20,206 | Lockheed Martin Corp. | 3,005 | ||||||
25,348 | Raytheon Co. | 2,299 | ||||||
15,300 | The Boeing Co. | 2,088 | ||||||
12,054 | ||||||||
Agricultural Products — 0.35% | ||||||||
50,819 | Archer-Daniels-Midland Co. | 2,206 | ||||||
Air Freight & Logistics — 0.68% | ||||||||
12,599 | C.H. Robinson Worldwide, Inc. | 735 | ||||||
34,558 | United Parcel Service, Inc., Class – B | 3,631 | ||||||
4,366 | ||||||||
Airlines — 0.15% | ||||||||
34,400 | Delta Air Lines, Inc. | 945 | ||||||
Apparel Retail — 0.89% | ||||||||
6,264 | Abercrombie & Fitch Co., Class – A | 206 | ||||||
4,577 | Guess?, Inc. | 142 | ||||||
83,200 | The TJX Cos., Inc. | 5,303 | ||||||
5,651 | ||||||||
Apparel, Accessories & Luxury Goods — 0.20% | ||||||||
22,484 | Coach, Inc. | 1,262 | ||||||
Application Software — 0.03% | ||||||||
17,433 | Compuware Corp. | 195 | ||||||
Asset Management & Custody Banks — 0.29% | ||||||||
21,125 | Ares Capital Corp. | 375 | ||||||
7,101 | Federated Investors, Inc., Class – B | 205 | ||||||
34,624 | Invesco Ltd. | 1,260 | ||||||
1,840 | ||||||||
Auto Parts & Equipment — 0.81% | ||||||||
48,604 | Johnson Controls, Inc. | 2,494 | ||||||
12,500 | Lear Corp. | 1,012 | ||||||
22,600 | TRW Automotive Holdings Corp. (a) | 1,681 | ||||||
5,187 | ||||||||
Automobile Manufacturers — 1.79% | ||||||||
561,461 | Ford Motor Co. | 8,663 | ||||||
67,800 | General Motors Co. (a) | 2,771 | ||||||
11,434 | ||||||||
Biotechnology — 0.17% | ||||||||
14,400 | Vertex Pharmaceuticals, Inc. (a) | 1,070 | ||||||
Brewers — 0.09% | ||||||||
10,796 | Molson Coors Brewing Co., Class – A | 606 | ||||||
Cable & Satellite — 0.70% | ||||||||
15,247 | Cablevision Systems Corp., Class – A | 273 | ||||||
19,132 | Liberty Global PLC, Class – A (a) | 1,703 | ||||||
30,100 | Liberty Global PLC, Series C (a) | 2,538 | ||||||
4,514 |
Shares | Security Description | Value (000) | ||||||
Capital Markets — 0.01% | ||||||||
909 | Artisan Partners Asset Management, Inc. | $ | 59 | |||||
Commercial Printing — 0.04% | ||||||||
13,896 | R.R. Donnelley & Sons Co. | 282 | ||||||
Communications Equipment — 1.64% | ||||||||
257,124 | Cisco Systems, Inc. | 5,773 | ||||||
116,379 | Corning, Inc. | 2,074 | ||||||
37,734 | Harris Corp. | 2,634 | ||||||
10,481 | ||||||||
Computer & Electronics Retail — 0.31% | ||||||||
40,100 | GameStop Corp., Class – A | 1,975 | ||||||
Computer Hardware — 1.87% | ||||||||
6,462 | Apple, Inc. | 3,626 | ||||||
5,253 | Diebold, Inc. | 173 | ||||||
291,900 | Hewlett-Packard Co. | 8,168 | ||||||
11,967 | ||||||||
Computer Storage & Peripherals — 0.03% | ||||||||
4,892 | Lexmark International, Inc., Class – A | 174 | ||||||
Computers & Peripherals — 0.18% | ||||||||
28,150 | NetApp, Inc. | 1,158 | ||||||
Consumer Electronics — 0.07% | ||||||||
9,947 | Garmin Ltd. | 460 | ||||||
Consumer Finance — 1.78% | ||||||||
100,500 | Capital One Financial Corp. | 7,700 | ||||||
48,800 | Discover Financial Services | 2,730 | ||||||
35,041 | SLM Corp. | 921 | ||||||
11,351 | ||||||||
Data Processing & Outsourced Services — 0.78% | ||||||||
37,799 | Automatic Data Processing, Inc. | 3,055 | ||||||
25,634 | Paychex, Inc. | 1,167 | ||||||
43,544 | Western Union Co. | 751 | ||||||
4,973 | ||||||||
Department Stores — 0.49% | ||||||||
17,680 | Kohl's Corp. | 1,003 | ||||||
39,600 | Macy's, Inc. | 2,115 | ||||||
3,118 | ||||||||
Distributors — 0.16% | ||||||||
12,191 | Genuine Parts Co. | 1,014 | ||||||
Diversified Banks — 2.61% | ||||||||
73,600 | CIT Group, Inc. | 3,837 | ||||||
88,707 | U.S. BanCorp | 3,584 | ||||||
203,211 | Wells Fargo & Co. | 9,225 | ||||||
16,646 | ||||||||
Diversified Chemicals — 1.15% | ||||||||
57,226 | E.I. du Pont de Nemours & Co. | 3,718 | ||||||
81,797 | The Dow Chemical Co. | 3,632 | ||||||
7,350 | ||||||||
Diversified Financial Services — 3.93% | ||||||||
610,500 | Bank of America Corp. | 9,506 | ||||||
165,750 | Citigroup, Inc. | 8,638 | ||||||
25,900 | ING US, Inc. | 910 |
See accompanying notes to financial statements.
1
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Diversified Financial Services (continued) | ||||||||
103,502 | JPMorgan Chase & Co. | $ | 6,053 | |||||
25,107 | ||||||||
Diversified Metals & Mining — 0.57% | ||||||||
2,585 | Compass Minerals International, Inc. | 207 | ||||||
81,740 | Freeport-McMoRan Copper & Gold, Inc. | 3,084 | ||||||
12,629 | Southern Copper Corp. | 363 | ||||||
3,654 | ||||||||
Diversified Real Estate Investment Trusts — 0.06% | ||||||||
2,332 | Liberty Property Trust | 79 | ||||||
5,396 | Spirit Realty Capital, Inc. | 53 | ||||||
2,533 | Vornado Realty Trust | 225 | ||||||
912 | WP Carey, Inc. | 56 | ||||||
413 | ||||||||
Diversified Support Services — 0.09% | ||||||||
13,582 | Iron Mountain, Inc. | 412 | ||||||
6,044 | KAR Auction Services, Inc. | 179 | ||||||
591 | ||||||||
Drug Retail — 0.32% | ||||||||
28,500 | CVS Caremark Corp. | 2,040 | ||||||
Electric Utilities — 1.51% | ||||||||
8,571 | American Electric Power, Inc. | 401 | ||||||
12,249 | Duke Energy Corp. | 845 | ||||||
77,462 | Edison International | 3,585 | ||||||
3,204 | Entergy Corp. | 203 | ||||||
79,142 | Exelon Corp. | 2,168 | ||||||
7,124 | FirstEnergy Corp. | 235 | ||||||
2,024 | Great Plains Energy, Inc. | 49 | ||||||
1,774 | Hawaiian Electric Industries, Inc. | 46 | ||||||
7,486 | NextEra Energy, Inc. | 641 | ||||||
5,422 | Northeast Utilities | 230 | ||||||
4,528 | Pepco Holdings, Inc. | 87 | ||||||
1,990 | Pinnacle West Capital Corp. | 105 | ||||||
11,450 | PPL Corp. | 345 | ||||||
15,275 | The Southern Co. | 628 | ||||||
2,291 | Westar Energy, Inc. | 74 | ||||||
9,642 | ||||||||
Electrical Components & Equipment — 1.02% | ||||||||
36,823 | Eaton Corp. PLC | 2,803 | ||||||
52,376 | Emerson Electric Co. | 3,676 | ||||||
6,479 | ||||||||
Environmental & Facilities Services — 0.39% | ||||||||
8,205 | Covanta Holding Corp. | 146 | ||||||
21,583 | Republic Services, Inc., Class – A | 717 | ||||||
36,892 | Waste Management, Inc. | 1,655 | ||||||
2,518 | ||||||||
Fertilizers & Agricultural Chemicals — 0.75% | ||||||||
21,537 | Monsanto Co. | 2,510 | ||||||
43,574 | The Mosaic Co. | 2,060 | ||||||
3,249 | The Scotts Miracle-Gro Co. | 202 | ||||||
4,772 |
Shares | Security Description | Value (000) | ||||||
Food Distributors — 0.27% | ||||||||
47,099 | Sysco Corp. | $ | 1,700 | |||||
Food Products — 0.14% | ||||||||
8,386 | The J.M. Smucker Co. | 869 | ||||||
Food Retail — 0.94% | ||||||||
19,050 | Safeway, Inc. | 620 | ||||||
135,400 | The Kroger Co. | 5,353 | ||||||
5,973 | ||||||||
Gas Utilities — 0.05% | ||||||||
1,846 | AGL Resources, Inc. | 87 | ||||||
1,636 | Atmos Energy Corp. | 74 | ||||||
2,513 | Questar Corp. | 58 | ||||||
2,053 | UGI Corp. | 85 | ||||||
304 | ||||||||
General Merchandise Stores — 0.29% | ||||||||
31,050 | Dollar General Corp. (a) | 1,873 | ||||||
Gold — 0.14% | ||||||||
39,373 | Newmont Mining Corp. | 907 | ||||||
Health Care Distributors — 0.11% | ||||||||
4,425 | McKesson Corp. | 714 | ||||||
Health Care Equipment & Supplies — 1.83% | ||||||||
80,842 | Baxter International, Inc. | 5,622 | ||||||
24,302 | Covidien PLC | 1,655 | ||||||
76,400 | Medtronic, Inc. | 4,385 | ||||||
11,662 | ||||||||
Health Care Providers & Services — 0.56% | ||||||||
42,600 | Aetna, Inc. | 2,922 | ||||||
12,780 | Quest Diagnostics, Inc. | 684 | ||||||
3,606 | ||||||||
Home Entertainment Software — 0.51% | ||||||||
141,300 | Electronic Arts, Inc. (a) | 3,241 | ||||||
Home Furnishings — 0.05% | ||||||||
11,252 | Leggett & Platt, Inc. | 348 | ||||||
Homebuilding — 0.71% | ||||||||
223,700 | PulteGroup, Inc. | 4,557 | ||||||
Hotels, Resorts & Cruise Lines — 0.30% | ||||||||
32,991 | Carnival Corp. | 1,325 | ||||||
12,728 | Royal Caribbean Cruises Ltd. | 604 | ||||||
1,929 | ||||||||
Hotels, Restaurants & Leisure — 0.06% | ||||||||
19,669 | International Game Technology | 357 | ||||||
Household Products — 1.19% | ||||||||
30,059 | Kimberly-Clark Corp. | 3,140 | ||||||
10,365 | The Clorox Co. | 961 | ||||||
43,201 | The Procter & Gamble Co. | 3,517 | ||||||
7,618 | ||||||||
Housewares & Specialties — 0.06% | ||||||||
4,206 | Tupperware Brands Corp. | 398 | ||||||
Hypermarkets & Super Centers — 0.56% | ||||||||
45,663 | Wal-Mart Stores, Inc. | 3,593 |
See accompanying notes to financial statements.
2
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Industrial Conglomerates — 1.88% | ||||||||
26,208 | 3M Co. | $ | 3,676 | |||||
296,891 | General Electric Co. | 8,322 | ||||||
11,998 | ||||||||
Industrial Gases — 0.29% | ||||||||
16,720 | Air Products & Chemicals, Inc. | 1,869 | ||||||
Industrial Machinery — 0.84% | ||||||||
6,112 | Harsco Corp. | 171 | ||||||
49,500 | Illinois Tool Works, Inc. | 4,162 | ||||||
12,726 | Stanley Black & Decker, Inc. | 1,027 | ||||||
5,360 | ||||||||
Industrial Real Estate Investment Trusts — 0.05% | ||||||||
8,428 | Prologis, Inc. | 311 | ||||||
Insurance — 1.89% | ||||||||
111,900 | American International Group, Inc. | 5,712 | ||||||
21,800 | Assurant, Inc. | 1,447 | ||||||
90,800 | Lincoln National Corp. | 4,687 | ||||||
4,743 | ProAssurance Corp. | 230 | ||||||
12,076 | ||||||||
Insurance Brokers — 0.67% | ||||||||
45,500 | Aon PLC | 3,817 | ||||||
9,936 | Arthur J. Gallagher & Co. | 466 | ||||||
4,283 | ||||||||
Integrated Oil & Gas — 5.07% | ||||||||
29,268 | Chevron Corp. | 3,656 | ||||||
51,282 | ConocoPhillips | 3,623 | ||||||
81,290 | Exxon Mobil Corp. | 8,228 | ||||||
77,800 | Hess Corp. | 6,457 | ||||||
63,500 | Marathon Oil Corp. | 2,242 | ||||||
85,776 | Occidental Petroleum Corp. | 8,157 | ||||||
32,363 | ||||||||
Integrated Telecommunication Services — 2.21% | ||||||||
182,419 | AT&T, Inc. | 6,414 | ||||||
41,079 | BCE, Inc. | 1,779 | ||||||
48,286 | CenturyLink, Inc. | 1,538 | ||||||
78,751 | Frontier Communications Corp. | 366 | ||||||
73,426 | Verizon Communications, Inc. | 3,608 | ||||||
45,194 | Windstream Holdings, Inc. | 361 | ||||||
14,066 | ||||||||
Investment Banking & Brokerage — 0.21% | ||||||||
45,000 | E*Trade Financial Corp. (a) | 884 | ||||||
9,819 | Lazard Ltd., Class – A | 445 | ||||||
1,329 | ||||||||
IT Consulting & Other Services — 0.06% | ||||||||
1,617 | Booz Allen Hamilton Holding Corp. | 31 | ||||||
5,767 | Leidos Holdings, Inc. | 269 | ||||||
3,400 | Science Applications International Corp. | 112 | ||||||
412 | ||||||||
IT Services — 0.61% | ||||||||
47,064 | Accenture PLC, Class – A | 3,870 |
Shares | Security Description | Value (000) | ||||||
Leisure Facilities — 0.04% | ||||||||
2,463 | Seaworld Entertainment, Inc. | $ | 71 | |||||
5,366 | Six Flags Entertainment Corp. | 197 | ||||||
268 | ||||||||
Leisure Products — 0.28% | ||||||||
9,228 | Hasbro, Inc. | 508 | ||||||
27,098 | Mattel, Inc. | 1,289 | ||||||
1,797 | ||||||||
Life & Health Insurance — 0.90% | ||||||||
36,771 | Aflac, Inc. | 2,456 | ||||||
35,829 | Prudential Financial, Inc. | 3,304 | ||||||
5,760 | ||||||||
Machinery — 1.01% | ||||||||
40,364 | Caterpillar, Inc. | 3,665 | ||||||
30,570 | Deere & Co. | 2,792 | ||||||
6,457 | ||||||||
Managed Health Care — 0.66% | ||||||||
25,805 | Health Net, Inc. (a) | 766 | ||||||
33,600 | UnitedHealth Group, Inc. | 2,529 | ||||||
9,900 | WellPoint, Inc. | 915 | ||||||
4,210 | ||||||||
Media — 0.31% | ||||||||
55,900 | Twenty-First Century Fox, Inc. | 1,967 | ||||||
Metal & Glass Containers — 0.13% | ||||||||
2,764 | Greif, Inc., Class – A | 145 | ||||||
19,187 | Owens-Illinois, Inc. (a) | 686 | ||||||
831 | ||||||||
Mortgage Real Estate Investment Trusts — 0.08% | ||||||||
7,192 | American Capital Agency Corp. | 139 | ||||||
16,715 | Annaly Capital Management, Inc. | 166 | ||||||
18,136 | Chimera Investment Corp. | 56 | ||||||
1,689 | Hatteras Financial Corp. | 28 | ||||||
7,832 | MFA Financial, Inc. | 55 | ||||||
6,116 | Two Harbors Investment Corp. | 57 | ||||||
501 | ||||||||
Movies & Entertainment — 1.52% | ||||||||
9,402 | Cinemark Holdings, Inc. | 313 | ||||||
50,816 | Regal Entertainment Group, Class – A | 988 | ||||||
40,977 | Time Warner, Inc. | 2,857 | ||||||
63,591 | Viacom, Inc., Class – B | 5,555 | ||||||
9,713 | ||||||||
Multi-line Insurance — 0.68% | ||||||||
31,700 | American Financial Group, Inc. | 1,830 | ||||||
150,700 | Genworth Financial, Inc., Class – A (a) | 2,340 | ||||||
3,515 | Kemper Corp. | 144 | ||||||
4,314 | ||||||||
Multiline Retail — 0.49% | ||||||||
49,731 | Target Corp. | 3,146 | ||||||
Multi-Utilities — 0.59% | ||||||||
2,010 | Alliant Energy Corp. | 104 | ||||||
3,966 | Ameren Corp. | 143 |
See accompanying notes to financial statements.
3
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Multi-Utilities (continued) | ||||||||
7,432 | CenterPoint Energy, Inc. | $ | 172 | |||||
4,252 | CMS Energy Corp. | 114 | ||||||
5,139 | Consolidated Edison, Inc. | 284 | ||||||
10,111 | Dominion Resources, Inc. | 655 | ||||||
3,013 | DTE Energy Co. | 200 | ||||||
1,436 | Integrys Energy Group, Inc. | 78 | ||||||
2,886 | MDU Resources Group, Inc. | 88 | ||||||
5,405 | NiSource, Inc. | 178 | ||||||
3,377 | OGE Energy Corp. | 114 | ||||||
7,649 | PG&E Corp. | 308 | ||||||
8,843 | Public Service Enterprise Group, Inc. | 283 | ||||||
2,401 | SCANA Corp. | 113 | ||||||
4,186 | Sempra Energy | 376 | ||||||
3,332 | TECO Energy, Inc. | 57 | ||||||
1,620 | Vectren Corp. | 58 | ||||||
4,111 | Wisconsin Energy Corp. | 170 | ||||||
9,015 | Xcel Energy, Inc. | 252 | ||||||
3,747 | ||||||||
Office Electronics — 0.60% | ||||||||
313,400 | Xerox Corp. | 3,814 | ||||||
Office Real Estate Investment Trusts — 0.13% | ||||||||
1,333 | Alexandria Real Estate Equities, Inc. | 85 | ||||||
3,060 | BioMed Realty Trust, Inc. | 55 | ||||||
2,479 | Boston Properties, Inc. | 248 | ||||||
1,951 | Brandywine Realty Trust | 27 | ||||||
2,433 | CommonWealth REIT | 57 | ||||||
1,210 | Corporate Office Properties Trust | 29 | ||||||
521 | Digital Realty Trust, Inc. | 26 | ||||||
2,173 | Douglas Emmett, Inc. | 51 | ||||||
5,776 | Duke Realty Corp. | 87 | ||||||
1,671 | Kilroy Realty Corp. | 84 | ||||||
1,319 | Mack-Cali Realty Corp. | 28 | ||||||
2,717 | Piedmont Office Realty Trust, Inc., Class – A | 45 | ||||||
822 | ||||||||
Office Services & Supplies — 0.12% | ||||||||
8,031 | Avery Dennison Corp. | 403 | ||||||
15,438 | Pitney Bowes, Inc. | 360 | ||||||
763 | ||||||||
Oil & Gas Drilling — 0.29% | ||||||||
7,684 | Helmerich & Payne, Inc. | 646 | ||||||
28,745 | Seadrill Ltd. | 1,181 | ||||||
1,827 | ||||||||
Oil & Gas Equipment & Services — 1.01% | ||||||||
18,700 | Cameron International Corp. (a) | 1,113 | ||||||
103,750 | Halliburton Co. | 5,266 | ||||||
4,658 | RPC, Inc. | 83 | ||||||
6,462 |
Shares | Security Description | Value (000) | ||||||
Oil & Gas Exploration & Production — 0.39% | ||||||||
57,800 | Encana Corp. | $ | 1,043 | |||||
37,200 | Southwestern Energy Co.(a) | 1,463 | ||||||
2,506 | ||||||||
Oil & Gas Refining & Marketing — 1.92% | ||||||||
1,260 | CVR Energy, Inc. | 55 | ||||||
15,938 | HollyFrontier Corp. | 792 | ||||||
65,800 | Marathon Petroleum Corp. | 6,036 | ||||||
1,858 | PBF Energy, Inc. | 58 | ||||||
105,500 | Valero Energy Corp. | 5,317 | ||||||
12,258 | ||||||||
Oil & Gas Storage & Transportation — 0.95% | ||||||||
3,314 | Golar LNG Ltd. | 120 | ||||||
51,418 | Kinder Morgan, Inc. | 1,851 | ||||||
52,521 | Spectra Energy Corp. | 1,871 | ||||||
3,020 | Teekay Shipping Corp. | 145 | ||||||
54,379 | The Williams Cos., Inc. | 2,097 | ||||||
6,084 | ||||||||
Packaged Foods & Meats — 1.34% | ||||||||
13,798 | Campbell Soup Co. | 597 | ||||||
33,137 | ConAgra Foods, Inc. | 1,117 | ||||||
51,527 | General Mills, Inc. | 2,572 | ||||||
5,959 | Ingredion, Inc. | 408 | ||||||
20,697 | Kellogg Co. | 1,264 | ||||||
46,439 | Kraft Foods Group, Inc. | 2,504 | ||||||
2,734 | Pinnacle Foods, Inc. | 75 | ||||||
8,537 | ||||||||
Paper & Forest Products — 0.04% | ||||||||
2,484 | Domtar Corp. | 234 | ||||||
Paper Packaging — 0.18% | ||||||||
7,812 | Bemis Co., Inc. | 320 | ||||||
7,703 | Packaging Corp. of America | 487 | ||||||
8,244 | Sonoco Products Co. | 344 | ||||||
1,151 | ||||||||
Paper Products — 0.35% | ||||||||
34,519 | International Paper Co. | 1,693 | ||||||
13,976 | MeadWestvaco Corp. | 516 | ||||||
2,209 | ||||||||
Pharmaceuticals — 7.01% | ||||||||
93,361 | Abbott Laboratories | 3,579 | ||||||
65,518 | AbbVie, Inc. | 3,460 | ||||||
9,550 | Allergan, Inc. | 1,061 | ||||||
67,673 | Bristol-Myers Squibb Co. | 3,597 | ||||||
70,459 | Eli Lilly & Co. | 3,593 | ||||||
51,500 | GlaxoSmithKline PLC, ADR | 2,750 | ||||||
56,366 | Johnson & Johnson | 5,163 | ||||||
72,781 | Merck & Co., Inc. | 3,643 | ||||||
17,500 | Novartis AG – Sponsored ADR | 1,407 | ||||||
539,222 | Pfizer, Inc. | 16,516 | ||||||
44,769 |
See accompanying notes to financial statements.
4
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Property & Casualty Insurance — 2.33% | ||||||||
53,272 | ACE Ltd. | $ | 5,515 | |||||
9,228 | AXIS Capital Holdings Ltd. | 439 | ||||||
12,711 | Cincinnati Financial Corp. | 666 | ||||||
3,501 | Endurance Specialty Holdings Ltd. | 205 | ||||||
17,256 | Fidelity National Financial, Inc., Class – A | 560 | ||||||
3,412 | Hanover Insurance Group, Inc. | 204 | ||||||
2,173 | Mercury General Corp. | 108 | ||||||
20,896 | Old Republic International Corp. | 361 | ||||||
42,600 | The Chubb Corp. | 4,115 | ||||||
29,397 | The Travelers Cos., Inc. | 2,662 | ||||||
14,835 | ||||||||
Publishing — 0.74% | ||||||||
120,062 | Gannett Co., Inc. | 3,551 | ||||||
30,339 | Thomson Reuters Corp. | 1,147 | ||||||
4,698 | ||||||||
Railroads — 0.36% | ||||||||
24,788 | Norfolk Southern Corp. | 2,301 | ||||||
Real Estate Investment Trusts (REITs) — 0.05% | ||||||||
13,486 | Host Hotels & Resorts, Inc. | 262 | ||||||
3,007 | Starwood Property Trust, Inc. | 83 | ||||||
345 | ||||||||
Regional Banks — 1.81% | ||||||||
3,409 | Bank of Hawaii Corp. | 202 | ||||||
54,979 | BB&T Corp. | 2,051 | ||||||
2,151 | BOK Financial Corp. | 143 | ||||||
3,920 | Cullen/Frost Bankers, Inc. | 292 | ||||||
68,222 | Fifth Third Bancorp | 1,435 | ||||||
15,199 | Fulton Financial Corp. | 199 | ||||||
10,227 | M&T Bank Corp. | 1,191 | ||||||
76,333 | PNC Financial Services Group, Inc. | 5,921 | ||||||
14,307 | Valley National Bancorp | 145 | ||||||
11,579 | ||||||||
Reinsurance — 1.03% | ||||||||
6,100 | Everest Re Group Ltd. | 951 | ||||||
50,897 | PartnerRe Ltd. | 5,367 | ||||||
8,095 | Validus Holdings Ltd. | 326 | ||||||
6,644 | ||||||||
Residential Real Estate Investment Trusts — 0.20% | ||||||||
1,608 | American Campus Communities, Inc. | 52 | ||||||
1,098 | Apartment Investment & Management Co., Class – A | 28 | ||||||
2,332 | AvalonBay Communities, Inc. | 276 | ||||||
1,409 | BRE Properties, Inc. | 77 | ||||||
1,476 | Camden Property Trust | 84 | ||||||
438 | Equity Lifestyle Properties, Inc. | 16 | ||||||
6,507 | Equity Residential | 337 | ||||||
588 | Essex Property Trust, Inc. | 84 | ||||||
1,061 | Home Properties, Inc. | 57 | ||||||
1,413 | Mid-America Apartment Communities, Inc. | 86 | ||||||
1,261 | Post Properties, Inc. | 57 |
Shares | Security Description | Value (000) | ||||||
Residential Real Estate Investment Trusts (continued) | ||||||||
4,537 | UDR, Inc. | $ | 106 | |||||
1,260 | ||||||||
Restaurants — 0.91% | ||||||||
10,221 | Darden Restaurants, Inc. | 556 | ||||||
51,800 | McDonald's Corp. | 5,026 | ||||||
22,945 | The Wendy's Co. | 200 | ||||||
5,782 | ||||||||
Retail Real Estate Investment Trusts — 0.19% | ||||||||
1,580 | CBL & Associates Properties, Inc. | 28 | ||||||
4,786 | DDR Corp. | 74 | ||||||
278 | Federal Realty Investment Trust | 28 | ||||||
10,766 | General Growth Properties, Inc. | 217 | ||||||
6,956 | Kimco Realty Corp. | 137 | ||||||
1,826 | National Retail Properties, Inc. | 55 | ||||||
3,556 | Realty Income Corp. | 133 | ||||||
994 | Regency Centers Corp. | 46 | ||||||
2,193 | Retail Properties of America, Inc., Class – A | 28 | ||||||
1,290 | Simon Property Group, Inc. | 196 | ||||||
866 | Taubman Centers, Inc. | 55 | ||||||
2,390 | The Macerich Co. | 141 | ||||||
2,027 | Weingarten Realty Investors | 56 | ||||||
1,194 | ||||||||
Security & Alarm Services — 0.00% | ||||||||
790 | Corrections Corp. of America | 25 | ||||||
Semiconductor Equipment — 0.69% | ||||||||
199,897 | Applied Materials, Inc. | 3,536 | ||||||
13,168 | KLA-Tencor Corp. | 849 | ||||||
4,385 | ||||||||
Semiconductors — 2.42% | ||||||||
24,021 | Analog Devices, Inc. | 1,223 | ||||||
141,510 | Intel Corp. | 3,674 | ||||||
18,304 | Linear Technology Corp. | 834 | ||||||
23,050 | Maxim Integrated Products, Inc. | 643 | ||||||
15,389 | Microchip Technology, Inc. | 689 | ||||||
49,700 | Micron Technology, Inc.(a) | 1,081 | ||||||
145,134 | Texas Instruments, Inc. | 6,373 | ||||||
20,791 | Xilinx, Inc. | 955 | ||||||
15,472 | ||||||||
Semiconductors & Semiconductor Equipment — 0.11% | ||||||||
44,603 | NVIDIA Corp. | 715 | ||||||
Soft Drinks — 1.54% | ||||||||
15,944 | Dr. Pepper Snapple Group, Inc. | 777 | ||||||
43,710 | PepsiCo, Inc. | 3,625 | ||||||
131,814 | The Coca-Cola Co. | 5,445 | ||||||
9,847 | ||||||||
Software — 0.79% | ||||||||
63,900 | Oracle Corp. | 2,445 | ||||||
110,375 | Symantec Corp. | 2,602 | ||||||
5,047 |
See accompanying notes to financial statements.
5
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Specialized Consumer Services — 0.10% | ||||||||
21,151 | H&R Block, Inc. | $ | 614 | |||||
Specialized Real Estate Investment Trusts — 0.15% | ||||||||
1,835 | Extra Space Storage, Inc. | 77 | ||||||
7,729 | HCP, Inc. | 281 | ||||||
5,153 | Health Care REIT, Inc. | 276 | ||||||
2,016 | Healthcare Trust of America, Inc., Class – A | 20 | ||||||
2,090 | Hospitality Properties Trust | 56 | ||||||
185 | Public Storage | 28 | ||||||
2,498 | Senior Housing Properties Trust | 56 | ||||||
2,913 | Ventas, Inc. | 167 | ||||||
961 | ||||||||
Specialty Chemicals — 1.32% | ||||||||
93,640 | LyondellBasell Industries NV, Class – A | 7,517 | ||||||
6,314 | Rockwood Holdings, Inc. | 454 | ||||||
10,579 | RPM, Inc. | 439 | ||||||
8,410 | ||||||||
Specialty Retail — 0.04% | ||||||||
16,006 | American Eagle Outfitters, Inc. | 230 | ||||||
Specialty Stores — 0.13% | ||||||||
51,039 | Staples, Inc. | 811 | ||||||
Steel — 0.27% | ||||||||
25,362 | Nucor Corp. | 1,354 | ||||||
18,639 | Steel Dynamics, Inc. | 364 | ||||||
1,718 | ||||||||
Systems Software — 0.71% | ||||||||
26,216 | CA, Inc. | 882 | ||||||
97,293 | Microsoft Corp. | 3,642 | ||||||
4,524 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Thrifts & Mortgage Finance — 0.23% | ||||||||
5,213 | BankUnited, Inc. | $ | 172 | |||||
28,781 | First Niagara Financial Group, Inc. | 306 | ||||||
34,636 | New York Community Bancorp, Inc. | 583 | ||||||
25,163 | People's United Financial, Inc. | 380 | ||||||
1,441 | ||||||||
Tobacco — 1.80% | ||||||||
93,264 | Altria Group, Inc. | 3,580 | ||||||
29,640 | Lorillard, Inc. | 1,502 | ||||||
59,034 | Philip Morris International, Inc. | 5,144 | ||||||
25,088 | Reynolds American, Inc. | 1,254 | ||||||
11,480 | ||||||||
Trading Companies & Distributors — 0.03% | ||||||||
3,818 | GATX Corp. | 199 | ||||||
Water Utilities — 0.02% | ||||||||
3,219 | American Water Works Co., Inc. | 136 | ||||||
Wireless Telecommunication Services — 1.16% | ||||||||
187,030 | Vodafone Group PLC – Sponsored ADR | 7,351 | ||||||
Total Common Stocks | 572,822 | |||||||
Time Deposit — 0.54% | ||||||||
$3,434 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/14 | 3,434 | ||||||
Total Time Deposit | 3,434 | |||||||
Mutual Fund — 9.40% | ||||||||
59,990,476 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (b) | 59,990 | ||||||
Total Mutual Fund | 59,990 | |||||||
Total Investments (cost $492,826) — 99.68% | 636,246 | |||||||
Other assets in excess of liabilities — 0.32% | 2,027 | |||||||
Net Assets — 100.00% | $ | 638,273 |
(a) | Represents non-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2013. |
ADR — American Depositary Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of the total net assets of the Portfolio attributable to each Specialist Manager, see Note 3 in the Notes to Financial Statements.
The Value Equity Portfolio | Alliance Bernstein L.P. | Cadence Capital Management, LLC | Institutional Capital, LLC | Mellon Capital Management Corporation | Total | |||||||||||||||
Common Stocks | 29.65 | % | 45.45 | % | 14.64 | % | — | 89.74 | % | |||||||||||
Time Deposit | — | — | 0.54 | % | — | 0.54 | % | |||||||||||||
Mutual Fund | — | — | — | 9.40 | % | 9.40 | % | |||||||||||||
Other Assets (Liabilities) | 0.09 | % | 5.74 | % | -0.02 | % | -5.49 | % | 0.32 | % | ||||||||||
Total Net Assets | 29.74 | % | 51.19 | % | 15.16 | % | 3.91 | % | 100.00 | % |
See accompanying notes to financial statements.
6
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 89.02% | ||||||||
Advertising — 0.23% | ||||||||
29,843 | Omnicom Group, Inc. | $ | 2,219 | |||||
Aerospace & Defense — 1.78% | ||||||||
34,102 | General Dynamics Corp. | 3,258 | ||||||
38,844 | Honeywell International, Inc. | 3,549 | ||||||
29,401 | Lockheed Martin Corp. | 4,371 | ||||||
36,887 | Raytheon Co. | 3,346 | ||||||
22,400 | The Boeing Co. | 3,057 | ||||||
17,581 | ||||||||
Agricultural Products — 0.33% | ||||||||
73,950 | Archer-Daniels-Midland Co. | 3,209 | ||||||
Air Freight & Logistics — 0.64% | ||||||||
18,337 | C.H. Robinson Worldwide, Inc. | 1,070 | ||||||
50,288 | United Parcel Service, Inc., Class – B | 5,284 | ||||||
6,354 | ||||||||
Airlines — 0.14% | ||||||||
49,300 | Delta Air Lines, Inc. | 1,354 | ||||||
Apparel Retail — 0.86% | ||||||||
9,116 | Abercrombie & Fitch Co., Class – A | 300 | ||||||
6,725 | Guess?, Inc. | 209 | ||||||
125,300 | The TJX Cos., Inc. | 7,985 | ||||||
8,494 | ||||||||
Apparel, Accessories & Luxury Goods — 0.18% | ||||||||
32,440 | Coach, Inc. | 1,821 | ||||||
Application Software — 0.03% | ||||||||
24,748 | Compuware Corp. | 277 | ||||||
Asset Management & Custody Banks — 0.28% | ||||||||
30,765 | Ares Capital Corp. | 546 | ||||||
10,477 | Federated Investors, Inc., Class – B | 302 | ||||||
50,384 | Invesco Ltd. | 1,834 | ||||||
2,682 | ||||||||
Auto Parts & Equipment — 0.84% | ||||||||
71,089 | Johnson Controls, Inc. | 3,648 | ||||||
17,000 | Lear Corp. | 1,376 | ||||||
44,300 | TRW Automotive Holdings Corp.(a) | 3,295 | ||||||
8,319 | ||||||||
Automobile Manufacturers — 1.85% | ||||||||
884,111 | Ford Motor Co. | 13,641 | ||||||
113,300 | General Motors Co.(a) | 4,631 | ||||||
18,272 | ||||||||
Biotechnology — 0.28% | ||||||||
37,500 | Vertex Pharmaceuticals, Inc.(a) | 2,786 | ||||||
Brewers — 0.09% | ||||||||
15,852 | Molson Coors Brewing Co., Class – A | 890 | ||||||
Cable & Satellite — 0.62% | ||||||||
21,826 | Cablevision Systems Corp., Class – A | 391 | ||||||
23,057 | Liberty Global PLC, Class – A (a) | 2,052 | ||||||
43,800 | Liberty Global PLC, Series C (a) | 3,693 | ||||||
6,136 |
Shares | Security Description | Value (000) | ||||||
Capital Markets — 0.01% | ||||||||
1,315 | Artisan Partners Asset Management, Inc. | $ | 86 | |||||
Commercial Printing — 0.04% | ||||||||
20,474 | R.R. Donnelley & Sons Co. | 415 | ||||||
Communications Equipment — 1.55% | ||||||||
375,007 | Cisco Systems, Inc. | 8,419 | ||||||
169,499 | Corning, Inc. | 3,020 | ||||||
54,575 | Harris Corp. | 3,810 | ||||||
15,249 | ||||||||
Computer & Electronics Retail — 0.31% | ||||||||
61,600 | GameStop Corp., Class – A | 3,034 | ||||||
Computer Hardware — 1.93% | ||||||||
9,402 | Apple, Inc. | 5,276 | ||||||
7,349 | Diebold, Inc. | 243 | ||||||
481,700 | Hewlett-Packard Co. | 13,477 | ||||||
18,996 | ||||||||
Computer Storage & Peripherals — 0.02% | ||||||||
6,827 | Lexmark International, Inc., Class – A | 242 | ||||||
Computers & Peripherals — 0.17% | ||||||||
41,250 | NetApp, Inc. | 1,697 | ||||||
Consumer Electronics — 0.07% | ||||||||
14,167 | Garmin Ltd. | 655 | ||||||
Consumer Finance — 1.95% | ||||||||
164,600 | Capital One Financial Corp. | 12,609 | ||||||
93,900 | Discover Financial Services | 5,254 | ||||||
51,047 | SLM Corp. | 1,342 | ||||||
19,205 | ||||||||
Data Processing & Outsourced Services — 0.74% | ||||||||
55,005 | Automatic Data Processing, Inc. | 4,445 | ||||||
37,359 | Paychex, Inc. | 1,701 | ||||||
63,730 | Western Union Co. | 1,099 | ||||||
7,245 | ||||||||
Department Stores — 0.46% | ||||||||
25,603 | Kohl's Corp. | 1,453 | ||||||
58,300 | Macy's, Inc. | 3,113 | ||||||
4,566 | ||||||||
Distributors — 0.15% | ||||||||
17,781 | Genuine Parts Co. | 1,479 | ||||||
Diversified Banks — 2.69% | ||||||||
128,900 | CIT Group, Inc. | 6,720 | ||||||
129,080 | U.S. BanCorp | 5,215 | ||||||
321,264 | Wells Fargo & Co. | 14,586 | ||||||
26,521 | ||||||||
Diversified Chemicals — 1.09% | ||||||||
83,361 | E.I. du Pont de Nemours & Co. | 5,416 | ||||||
119,027 | The Dow Chemical Co. | 5,285 | ||||||
10,701 |
See accompanying notes to financial statements.
7
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Diversified Financial Services — 4.02% | ||||||||
916,250 | Bank of America Corp. | $ | 14,266 | |||||
286,550 | Citigroup, Inc. | 14,933 | ||||||
43,300 | ING US, Inc. | 1,522 | ||||||
150,994 | JPMorgan Chase & Co. | 8,830 | ||||||
39,551 | ||||||||
Diversified Metals & Mining — 0.54% | ||||||||
3,827 | Compass Minerals International, Inc. | 306 | ||||||
119,007 | Freeport-McMoRan Copper & Gold, Inc. | 4,492 | ||||||
18,211 | Southern Copper Corp. | 523 | ||||||
5,321 | ||||||||
Diversified Real Estate Investment Trusts — 0.06% | ||||||||
3,326 | Liberty Property Trust | 113 | ||||||
7,657 | Spirit Realty Capital, Inc. | 75 | ||||||
3,740 | Vornado Realty Trust | 332 | ||||||
1,384 | WP Carey, Inc. | 85 | ||||||
605 | ||||||||
Diversified Support Services — 0.09% | ||||||||
19,640 | Iron Mountain, Inc. | 596 | ||||||
8,731 | KAR Auction Services, Inc. | 258 | ||||||
854 | ||||||||
Drug Retail — 0.30% | ||||||||
41,700 | CVS Caremark Corp. | 2,984 | ||||||
Electric Utilities — 1.47% | ||||||||
12,467 | American Electric Power, Inc. | 583 | ||||||
17,930 | Duke Energy Corp. | 1,237 | ||||||
122,898 | Edison International | 5,689 | ||||||
4,580 | Entergy Corp. | 290 | ||||||
115,503 | Exelon Corp. | 3,163 | ||||||
10,507 | FirstEnergy Corp. | 347 | ||||||
3,401 | Great Plains Energy, Inc. | 82 | ||||||
2,427 | Hawaiian Electric Industries, Inc. | 63 | ||||||
10,892 | NextEra Energy, Inc. | 933 | ||||||
7,964 | Northeast Utilities | 338 | ||||||
5,994 | Pepco Holdings, Inc. | 115 | ||||||
2,826 | Pinnacle West Capital Corp. | 150 | ||||||
16,240 | PPL Corp. | 489 | ||||||
22,267 | The Southern Co. | 915 | ||||||
3,907 | Westar Energy, Inc. | 126 | ||||||
14,520 | ||||||||
Electrical Components & Equipment — 0.95% | ||||||||
53,580 | Eaton Corp. PLC | 4,079 | ||||||
76,268 | Emerson Electric Co. | 5,352 | ||||||
9,431 | ||||||||
Environmental & Facilities Services — 0.37% | ||||||||
12,061 | Covanta Holding Corp. | 214 | ||||||
31,221 | Republic Services, Inc., Class – A | 1,037 | ||||||
53,709 | Waste Management, Inc. | 2,410 | ||||||
3,661 |
Shares | Security Description | Value (000) | ||||||
Fertilizers & Agricultural Chemicals — 0.71% | ||||||||
31,557 | Monsanto Co. | $ | 3,678 | |||||
63,582 | The Mosaic Co. | 3,006 | ||||||
4,797 | The Scotts Miracle-Gro Co. | 298 | ||||||
6,982 | ||||||||
Food Distributors — 0.25% | ||||||||
68,453 | Sysco Corp. | 2,471 | ||||||
Food Products — 0.13% | ||||||||
12,204 | The J.M. Smucker Co. | 1,265 | ||||||
Food Retail — 1.15% | ||||||||
27,731 | Safeway, Inc. | 903 | ||||||
264,000 | The Kroger Co. | 10,436 | ||||||
11,339 | ||||||||
Gas Utilities — 0.04% | ||||||||
2,813 | AGL Resources, Inc. | 132 | ||||||
2,328 | Atmos Energy Corp. | 106 | ||||||
3,418 | Questar Corp. | 79 | ||||||
2,921 | UGI Corp. | 121 | ||||||
438 | ||||||||
General Merchandise Stores — 0.28% | ||||||||
45,450 | Dollar General Corp. (a) | 2,742 | ||||||
Gold — 0.13% | ||||||||
56,791 | Newmont Mining Corp. | 1,308 | ||||||
Health Care Distributors — 0.11% | ||||||||
6,550 | McKesson Corp. | 1,057 | ||||||
Health Care Equipment & Supplies — 1.94% | ||||||||
117,962 | Baxter International, Inc. | 8,204 | ||||||
35,584 | Covidien PLC | 2,423 | ||||||
148,000 | Medtronic, Inc. | 8,494 | ||||||
19,121 | ||||||||
Health Care Providers & Services — 0.61% | ||||||||
73,700 | Aetna, Inc. | 5,055 | ||||||
18,597 | Quest Diagnostics, Inc. | 996 | ||||||
6,051 | ||||||||
Home Entertainment Software — 0.57% | ||||||||
244,900 | Electronic Arts, Inc. (a) | 5,618 | ||||||
Home Furnishings — 0.05% | ||||||||
16,399 | Leggett & Platt, Inc. | 507 | ||||||
Homebuilding — 0.68% | ||||||||
327,700 | PulteGroup, Inc. | 6,675 | ||||||
Hotels, Resorts & Cruise Lines — 0.29% | ||||||||
48,049 | Carnival Corp. | 1,930 | ||||||
18,630 | Royal Caribbean Cruises Ltd. | 883 | ||||||
2,813 | ||||||||
Hotels, Restaurants & Leisure — 0.05% | ||||||||
28,620 | International Game Technology | 520 | ||||||
Household Products — 1.13% | ||||||||
43,738 | Kimberly-Clark Corp. | 4,569 | ||||||
15,111 | The Clorox Co. | 1,402 | ||||||
62,864 | The Procter & Gamble Co. | 5,117 | ||||||
11,088 |
See accompanying notes to financial statements.
8
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Housewares & Specialties — 0.06% | ||||||||
6,095 | Tupperware Brands Corp. | $ | 576 | |||||
Hypermarkets & Super Centers — 0.53% | ||||||||
66,447 | Wal-Mart Stores, Inc. | 5,229 | ||||||
Industrial Conglomerates — 1.78% | ||||||||
38,135 | 3M Co. | 5,348 | ||||||
433,586 | General Electric Co. | 12,154 | ||||||
17,502 | ||||||||
Industrial Gases — 0.28% | ||||||||
24,331 | Air Products & Chemicals, Inc. | 2,720 | ||||||
Industrial Machinery — 0.84% | ||||||||
9,241 | Harsco Corp. | 259 | ||||||
78,000 | Illinois Tool Works, Inc. | 6,558 | ||||||
18,517 | Stanley Black & Decker, Inc. | 1,494 | ||||||
8,311 | ||||||||
Industrial Real Estate Investment Trusts — 0.05% | ||||||||
12,463 | Prologis, Inc. | 461 | ||||||
Insurance — 2.03% | ||||||||
186,100 | American International Group, Inc. | 9,501 | ||||||
33,300 | Assurant, Inc. | 2,210 | ||||||
154,300 | Lincoln National Corp. | 7,965 | ||||||
6,902 | ProAssurance Corp. | 335 | ||||||
20,011 | ||||||||
Insurance Brokers — 0.76% | ||||||||
81,400 | Aon PLC | 6,829 | ||||||
14,512 | Arthur J. Gallagher & Co. | 681 | ||||||
7,510 | ||||||||
Integrated Oil & Gas — 5.18% | ||||||||
42,592 | Chevron Corp. | 5,320 | ||||||
74,622 | ConocoPhillips | 5,272 | ||||||
118,711 | Exxon Mobil Corp. | 12,014 | ||||||
142,700 | Hess Corp. | 11,844 | ||||||
93,000 | Marathon Oil Corp. | 3,283 | ||||||
138,934 | Occidental Petroleum Corp. | 13,213 | ||||||
50,946 | ||||||||
Integrated Telecommunication Services — 2.18% | ||||||||
292,734 | AT&T, Inc. | 10,294 | ||||||
60,195 | BCE, Inc. | 2,605 | ||||||
70,219 | CenturyLink, Inc. | 2,236 | ||||||
114,727 | Frontier Communications Corp. | 533 | ||||||
106,845 | Verizon Communications, Inc. | 5,250 | ||||||
66,708 | Windstream Holdings, Inc. | 532 | ||||||
21,450 | ||||||||
Investment Banking & Brokerage — 0.22% | ||||||||
76,200 | E*Trade Financial Corp. (a) | 1,497 | ||||||
14,287 | Lazard Ltd., Class – A | 647 | ||||||
2,144 |
Shares | Security Description | Value (000) | ||||||
IT Consulting & Other Services — 0.06% | ||||||||
2,351 | Booz Allen Hamilton Holding Corp. | $ | 45 | |||||
8,410 | Leidos Holdings, Inc. | 391 | ||||||
4,821 | Science Applications International Corp. | 159 | ||||||
595 | ||||||||
IT Services — 0.57% | ||||||||
68,484 | Accenture PLC, Class – A | 5,631 | ||||||
Leisure Facilities — 0.04% | ||||||||
3,519 | Seaworld Entertainment, Inc. | 101 | ||||||
7,611 | Six Flags Entertainment Corp. | 280 | ||||||
381 | ||||||||
Leisure Products — 0.27% | ||||||||
13,248 | Hasbro, Inc. | 729 | ||||||
39,560 | Mattel, Inc. | 1,882 | ||||||
2,611 | ||||||||
Life & Health Insurance — 0.85% | ||||||||
53,509 | Aflac, Inc. | 3,574 | ||||||
52,136 | Prudential Financial, Inc. | 4,808 | ||||||
8,382 | ||||||||
Machinery — 0.95% | ||||||||
58,735 | Caterpillar, Inc. | 5,334 | ||||||
44,554 | Deere & Co. | 4,069 | ||||||
9,403 | ||||||||
Managed Health Care — 0.64% | ||||||||
41,211 | Health Net, Inc. (a) | 1,223 | ||||||
49,200 | UnitedHealth Group, Inc. | 3,705 | ||||||
15,200 | WellPoint, Inc. | 1,404 | ||||||
6,332 | ||||||||
Media — 0.30% | ||||||||
85,100 | Twenty-First Century Fox, Inc. | 2,994 | ||||||
Metal & Glass Containers — 0.12% | ||||||||
3,642 | Greif, Inc., Class – A | 191 | ||||||
28,089 | Owens-Illinois, Inc. (a) | 1,005 | ||||||
1,196 | ||||||||
Mortgage Real Estate Investment Trusts — 0.07% | ||||||||
10,200 | American Capital Agency Corp. | 197 | ||||||
24,302 | Annaly Capital Management, Inc. | 243 | ||||||
23,062 | Chimera Investment Corp. | 71 | ||||||
2,484 | Hatteras Financial Corp. | 41 | ||||||
11,397 | MFA Financial, Inc. | 80 | ||||||
9,083 | Two Harbors Investment Corp. | 84 | ||||||
716 | ||||||||
Movies & Entertainment — 1.57% | ||||||||
13,343 | Cinemark Holdings, Inc. | 445 | ||||||
72,948 | Regal Entertainment Group, Class – A | 1,419 | ||||||
60,072 | Time Warner, Inc. | 4,188 | ||||||
107,619 | Viacom, Inc., Class – B | 9,399 | ||||||
15,451 |
See accompanying notes to financial statements.
9
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments��(continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Multi-line Insurance — 0.75% | ||||||||
57,600 | American Financial Group, Inc. | $ | 3,325 | |||||
246,500 | Genworth Financial, Inc., Class – A (a) | 3,828 | ||||||
5,256 | Kemper Corp. | 215 | ||||||
7,368 | ||||||||
Multiline Retail — 0.46% | ||||||||
72,366 | Target Corp. | 4,579 | ||||||
Multi-Utilities — 0.55% | ||||||||
2,853 | Alliant Energy Corp. | 147 | ||||||
5,947 | Ameren Corp. | 215 | ||||||
10,884 | CenterPoint Energy, Inc. | 252 | ||||||
6,440 | CMS Energy Corp. | 172 | ||||||
7,493 | Consolidated Edison, Inc. | 414 | ||||||
14,754 | Dominion Resources, Inc. | 954 | ||||||
4,414 | DTE Energy Co. | 293 | ||||||
2,026 | Integrys Energy Group, Inc. | 110 | ||||||
4,453 | MDU Resources Group, Inc. | 136 | ||||||
7,920 | NiSource, Inc. | 260 | ||||||
4,916 | OGE Energy Corp. | 167 | ||||||
11,211 | PG&E Corp. | 452 | ||||||
12,909 | Public Service Enterprise Group, Inc. | 414 | ||||||
3,529 | SCANA Corp. | 166 | ||||||
6,149 | Sempra Energy | 552 | ||||||
4,592 | TECO Energy, Inc. | 79 | ||||||
2,071 | Vectren Corp. | 74 | ||||||
5,871 | Wisconsin Energy Corp. | 243 | ||||||
12,786 | Xcel Energy, Inc. | 357 | ||||||
5,457 | ||||||||
Office Electronics — 0.59% | ||||||||
476,200 | Xerox Corp. | 5,795 | ||||||
Office Real Estate Investment Trusts — 0.12% | ||||||||
1,659 | Alexandria Real Estate Equities, Inc. | 106 | ||||||
4,583 | BioMed Realty Trust, Inc. | 83 | ||||||
3,542 | Boston Properties, Inc. | 356 | ||||||
3,187 | Brandywine Realty Trust | 45 | ||||||
3,542 | CommonWealth REIT | 83 | ||||||
1,820 | Corporate Office Properties Trust | 43 | ||||||
711 | Digital Realty Trust, Inc. | 35 | ||||||
3,529 | Douglas Emmett, Inc. | 82 | ||||||
8,277 | Duke Realty Corp. | 124 | ||||||
2,432 | Kilroy Realty Corp. | 122 | ||||||
2,006 | Mack-Cali Realty Corp. | 43 | ||||||
4,312 | Piedmont Office Realty Trust, Inc., Class – A | 71 | ||||||
1,193 | ||||||||
Office Services & Supplies — 0.11% | ||||||||
11,483 | Avery Dennison Corp. | 577 | ||||||
22,761 | Pitney Bowes, Inc. | 530 | ||||||
1,107 |
Shares | Security Description | Value (000) | ||||||
Oil & Gas Drilling — 0.26% | ||||||||
10,955 | Helmerich & Payne, Inc. | $ | 921 | |||||
41,831 | Seadrill Ltd. | 1,718 | ||||||
2,639 | ||||||||
Oil & Gas Equipment & Services — 1.01% | ||||||||
27,400 | Cameron International Corp. (a) | 1,631 | ||||||
161,650 | Halliburton Co. | 8,204 | ||||||
6,742 | RPC, Inc. | 120 | ||||||
9,955 | ||||||||
Oil & Gas Exploration & Production — 0.37% | ||||||||
84,600 | Encana Corp. | 1,527 | ||||||
54,500 | Southwestern Energy Co. (a) | 2,143 | ||||||
3,670 | ||||||||
Oil & Gas Refining & Marketing — 1.95% | ||||||||
1,770 | CVR Energy, Inc. | 77 | ||||||
23,261 | HollyFrontier Corp. | 1,156 | ||||||
102,300 | Marathon Petroleum Corp. | 9,385 | ||||||
2,681 | PBF Energy, Inc. | 84 | ||||||
168,700 | Valero Energy Corp. | 8,502 | ||||||
19,204 | ||||||||
Oil & Gas Storage & Transportation — 0.90% | ||||||||
4,902 | Golar LNG Ltd. | 178 | ||||||
74,820 | Kinder Morgan, Inc. | 2,694 | ||||||
76,424 | Spectra Energy Corp. | 2,722 | ||||||
4,680 | Teekay Shipping Corp. | 225 | ||||||
78,763 | The Williams Cos., Inc. | 3,038 | ||||||
8,857 | ||||||||
Packaged Foods & Meats — 1.26% | ||||||||
20,127 | Campbell Soup Co. | 871 | ||||||
48,109 | ConAgra Foods, Inc. | 1,621 | ||||||
74,979 | General Mills, Inc. | 3,742 | ||||||
8,671 | Ingredion, Inc. | 594 | ||||||
29,982 | Kellogg Co. | 1,831 | ||||||
67,577 | Kraft Foods Group, Inc. | 3,644 | ||||||
4,655 | Pinnacle Foods, Inc. | 128 | ||||||
12,431 | ||||||||
Paper & Forest Products — 0.04% | ||||||||
3,690 | Domtar Corp. | 348 | ||||||
Paper Packaging — 0.17% | ||||||||
11,563 | Bemis Co., Inc. | 474 | ||||||
11,244 | Packaging Corp. of America | 711 | ||||||
11,700 | Sonoco Products Co. | 488 | ||||||
1,673 | ||||||||
Paper Products — 0.33% | ||||||||
50,229 | International Paper Co. | 2,463 | ||||||
20,340 | MeadWestvaco Corp. | 751 | ||||||
3,214 |
See accompanying notes to financial statements.
10
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Pharmaceuticals — 7.06% | ||||||||
135,851 | Abbott Laboratories | $ | 5,207 | |||||
95,335 | AbbVie, Inc. | 5,035 | ||||||
13,950 | Allergan, Inc. | 1,550 | ||||||
98,473 | Bristol-Myers Squibb Co. | 5,234 | ||||||
102,527 | Eli Lilly & Co. | 5,229 | ||||||
94,800 | GlaxoSmithKline PLC, ADR | 5,061 | ||||||
82,061 | Johnson & Johnson | 7,516 | ||||||
105,905 | Merck & Co., Inc. | 5,301 | ||||||
25,600 | Novartis AG — Sponsored ADR | 2,058 | ||||||
890,142 | Pfizer, Inc. | 27,265 | ||||||
69,456 | ||||||||
Property & Casualty Insurance — 2.22% | ||||||||
77,817 | ACE Ltd. | 8,056 | ||||||
13,550 | AXIS Capital Holdings Ltd. | 645 | ||||||
18,630 | Cincinnati Financial Corp. | 976 | ||||||
4,977 | Endurance Specialty Holdings Ltd. | 292 | ||||||
25,112 | Fidelity National Financial, Inc., Class – A | 815 | ||||||
5,015 | Hanover Insurance Group, Inc. | 299 | ||||||
3,085 | Mercury General Corp. | 153 | ||||||
29,926 | Old Republic International Corp. | 517 | ||||||
64,700 | The Chubb Corp. | 6,252 | ||||||
42,776 | The Travelers Cos., Inc. | 3,873 | ||||||
21,878 | ||||||||
Publishing — 0.75% | ||||||||
194,736 | Gannett Co., Inc. | 5,760 | ||||||
44,145 | Thomson Reuters Corp. | 1,670 | ||||||
7,430 | ||||||||
Railroads — 0.34% | ||||||||
36,146 | Norfolk Southern Corp. | 3,355 | ||||||
Real Estate Investment Trusts (REITs) — 0.05% | ||||||||
19,130 | Host Hotels & Resorts, Inc. | 372 | ||||||
4,283 | Starwood Property Trust, Inc. | 119 | ||||||
491 | ||||||||
Regional Banks — 1.71% | ||||||||
5,036 | Bank of Hawaii Corp. | 298 | ||||||
80,003 | BB&T Corp. | 2,986 | ||||||
3,047 | BOK Financial Corp. | 202 | ||||||
5,705 | Cullen/Frost Bankers, Inc. | 425 | ||||||
99,272 | Fifth Third Bancorp | 2,088 | ||||||
21,500 | Fulton Financial Corp. | 281 | ||||||
14,872 | M&T Bank Corp. | 1,731 | ||||||
111,407 | PNC Financial Services Group, Inc. | 8,642 | ||||||
20,819 | Valley National Bancorp | 211 | ||||||
16,864 | ||||||||
Reinsurance — 1.11% | ||||||||
10,000 | Everest Re Group Ltd. | 1,559 | ||||||
84,942 | PartnerRe Ltd. | 8,956 | ||||||
11,868 | Validus Holdings Ltd. | 478 | ||||||
10,993 |
Shares | Security Description | Value (000) | ||||||
Residential Real Estate Investment Trusts — 0.18% | ||||||||
2,291 | American Campus Communities, Inc. | $ | 74 | |||||
1,627 | Apartment Investment & Management Co., Class – A | 42 | ||||||
3,326 | AvalonBay Communities, Inc. | 393 | ||||||
1,982 | BRE Properties, Inc. | 108 | ||||||
2,153 | Camden Property Trust | 122 | ||||||
594 | Equity Lifestyle Properties, Inc. | 22 | ||||||
9,257 | Equity Residential | 481 | ||||||
876 | Essex Property Trust, Inc. | 126 | ||||||
1,181 | Home Properties, Inc. | 63 | ||||||
2,057 | Mid-America Apartment Communities, Inc. | 125 | ||||||
1,831 | Post Properties, Inc. | 83 | ||||||
6,439 | UDR, Inc. | 150 | ||||||
1,789 | ||||||||
Restaurants — 0.85% | ||||||||
14,906 | Darden Restaurants, Inc. | 810 | ||||||
75,534 | McDonald's Corp. | 7,329 | ||||||
32,545 | The Wendy's Co. | 284 | ||||||
8,423 | ||||||||
Retail Real Estate Investment Trusts — 0.18% | ||||||||
2,498 | CBL & Associates Properties, Inc. | 45 | ||||||
8,158 | DDR Corp. | 125 | ||||||
469 | Federal Realty Investment Trust | 48 | ||||||
15,283 | General Growth Properties, Inc. | 306 | ||||||
10,261 | Kimco Realty Corp. | 203 | ||||||
2,801 | National Retail Properties, Inc. | 85 | ||||||
5,057 | Realty Income Corp. | 189 | ||||||
1,370 | Regency Centers Corp. | 63 | ||||||
3,277 | Retail Properties of America, Inc., Class – A | 42 | ||||||
1,873 | Simon Property Group, Inc. | 285 | ||||||
1,282 | Taubman Centers, Inc. | 82 | ||||||
3,500 | The Macerich Co. | 206 | ||||||
3,011 | Weingarten Realty Investors | 83 | ||||||
1,762 | ||||||||
Security & Alarm Services — 0.00% | ||||||||
1,097 | Corrections Corp. of America | 35 | ||||||
Semiconductor Equipment — 0.71% | ||||||||
325,803 | Applied Materials, Inc. | 5,763 | ||||||
19,140 | KLA-Tencor Corp. | 1,234 | ||||||
6,997 | ||||||||
Semiconductors — 2.28% | ||||||||
34,955 | Analog Devices, Inc. | 1,780 | ||||||
205,915 | Intel Corp. | 5,346 | ||||||
26,727 | Linear Technology Corp. | 1,217 | ||||||
33,528 | Maxim Integrated Products, Inc. | 936 | ||||||
22,519 | Microchip Technology, Inc. | 1,008 | ||||||
68,200 | Micron Technology, Inc. (a) | 1,484 | ||||||
211,841 | Texas Instruments, Inc. | 9,303 | ||||||
30,254 | Xilinx, Inc. | 1,389 | ||||||
22,463 |
See accompanying notes to financial statements.
11
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Semiconductors & Semiconductor Equipment — 0.11% | ||||||||
64,906 | NVIDIA Corp. | $ | 1,040 | |||||
Soft Drinks — 1.46% | ||||||||
23,305 | Dr. Pepper Snapple Group, Inc. | 1,135 | ||||||
63,603 | PepsiCo, Inc. | 5,275 | ||||||
192,222 | The Coca-Cola Co. | 7,941 | ||||||
14,351 | ||||||||
Software — 0.75% | ||||||||
93,600 | Oracle Corp. | 3,581 | ||||||
161,110 | Symantec Corp. | 3,799 | ||||||
7,380 | ||||||||
Specialized Consumer Services — 0.09% | ||||||||
30,996 | H&R Block, Inc. | 900 | ||||||
Specialized Real Estate Investment Trusts — 0.14% | ||||||||
2,618 | Extra Space Storage, Inc. | 110 | ||||||
11,405 | HCP, Inc. | 415 | ||||||
7,315 | Health Care REIT, Inc. | 392 | ||||||
2,861 | Healthcare Trust of America, Inc., Class – A | 28 | ||||||
3,111 | Hospitality Properties Trust | 84 | ||||||
253 | Public Storage | 38 | ||||||
3,806 | Senior Housing Properties Trust | 85 | ||||||
4,142 | Ventas, Inc. | 237 | ||||||
1,389 | ||||||||
Specialty Chemicals — 1.31% | ||||||||
144,777 | LyondellBasell Industries NV, Class – A | 11,623 | ||||||
9,285 | Rockwood Holdings, Inc. | 668 | ||||||
15,305 | RPM, Inc. | 635 | ||||||
12,926 | ||||||||
Specialty Retail — 0.03% | ||||||||
23,290 | American Eagle Outfitters, Inc. | 335 | ||||||
Specialty Stores — 0.12% | ||||||||
74,269 | Staples, Inc. | 1,180 | ||||||
Steel — 0.25% | ||||||||
36,692 | Nucor Corp. | 1,959 | ||||||
27,120 | Steel Dynamics, Inc. | 530 | ||||||
2,489 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Systems Software — 0.67% | ||||||||
37,805 | CA, Inc. | $ | 1,272 | |||||
141,573 | Microsoft Corp. | 5,299 | ||||||
6,571 | ||||||||
Thrifts & Mortgage Finance — 0.21% | ||||||||
7,388 | BankUnited, Inc. | 243 | ||||||
40,827 | First Niagara Financial Group, Inc. | 434 | ||||||
50,518 | New York Community Bancorp, Inc. | 851 | ||||||
35,786 | People's United Financial, Inc. | 541 | ||||||
2,069 | ||||||||
Tobacco — 1.84% | ||||||||
135,713 | Altria Group, Inc. | 5,210 | ||||||
43,272 | Lorillard, Inc. | 2,193 | ||||||
101,783 | Philip Morris International, Inc. | 8,868 | ||||||
36,385 | Reynolds American, Inc. | 1,819 | ||||||
18,090 | ||||||||
Trading Companies & Distributors — 0.03% | ||||||||
5,414 | GATX Corp. | 282 | ||||||
Water Utilities — 0.02% | ||||||||
4,576 | American Water Works Co., Inc. | 193 | ||||||
Wireless Telecommunication Services — 1.08% | ||||||||
268,725 | Vodafone Group PLC – Sponsored ADR | 10,564 | ||||||
Total Common Stocks | 877,144 | |||||||
Time Deposit — 1.61% | ||||||||
$15,852 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/14 | 15,852 | ||||||
Total Time Deposit | 15,852 | |||||||
Mutual Fund — 8.58% | ||||||||
84,486,166 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (b) | 84,486 | ||||||
Total Mutual Fund | 84,486 | |||||||
Total Investments (cost $774,856) — 99.21% | 977,482 | |||||||
Other assets in excess of liabilities — 0.79% | 7,757 | |||||||
Net Assets — 100.00% | $ | 985,239 |
(a) | Represents non-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2013. |
ADR — American Depositary Receipt
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
12
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
The following table reflects the percentage of the total net assets of the Portfolio attributable to each Specialist Manager, see Note 3 in the Notes to Financial Statements.
The Institutional Value Equity Portfolio | Alliance Bernstein L.P. | Cadence Capital Management, LLC | Institutional Capital, LLC | Mellon Capital Management Corporation | Total | |||||||||||||||
Common Stocks | 32.29 | % | 42.83 | % | 13.90 | % | — | 89.02 | % | |||||||||||
Time Deposit | 1.10 | % | — | 0.51 | % | — | 1.61 | % | ||||||||||||
Mutual Fund | — | — | — | 8.58 | % | 8.58 | % | |||||||||||||
Other Assets (Liabilities) | 0.63 | % | 5.11 | % | -0.02 | % | -4.93 | % | 0.79 | % | ||||||||||
Total Net Assets | 34.02 | % | 47.94 | % | 14.39 | % | 3.65 | % | 100.00 | % |
See accompanying notes to financial statements.
13
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 90.68% | ||||||||
Advertising — 0.14% | ||||||||
15,499 | Omnicom Group, Inc. | $ | 1,153 | |||||
Aerospace & Defense — 3.12% | ||||||||
3,558 | Engility Holdings, Inc. (a) | 119 | ||||||
18,259 | General Dynamics Corp. | 1,745 | ||||||
5,646 | L-3 Communications Holdings, Inc. | 603 | ||||||
27,000 | Precision Castparts Corp. | 7,271 | ||||||
8,383 | Rockwell Collins, Inc. | 620 | ||||||
13,634 | Rolls-Royce Holdings PLC, ADR | 1,446 | ||||||
30,637 | The Boeing Co. | 4,182 | ||||||
84,905 | United Technologies Corp. | 9,661 | �� | |||||
25,647 | ||||||||
Air Freight & Logistics — 0.13% | ||||||||
9,434 | C.H. Robinson Worldwide, Inc. | 551 | ||||||
12,229 | Expeditors International of Washington, Inc. | 541 | ||||||
1,092 | ||||||||
Apparel Retail — 1.66% | ||||||||
4,922 | Abercrombie & Fitch Co., Class – A | 162 | ||||||
6,645 | Ascena Retail Group, Inc. (a) | 141 | ||||||
4,041 | Guess?, Inc. | 126 | ||||||
149,091 | Industria de Diseno Textil SA, ADR | 4,923 | ||||||
130,464 | The TJX Cos., Inc. | 8,314 | ||||||
13,666 | ||||||||
Apparel, Accessories & Luxury Goods — 1.47% | ||||||||
16,561 | Coach, Inc. | 930 | ||||||
2,967 | Fossil Group, Inc. (a) | 356 | ||||||
34,052 | Michael Kors Holdings Ltd. (a) | 2,765 | ||||||
16,616 | Ralph Lauren Corp. | 2,933 | ||||||
75,311 | The Swatch Group AG, ADR | 2,500 | ||||||
29,972 | Under Armour, Inc., Class – A (a) | 2,617 | ||||||
12,101 | ||||||||
Application Software — 0.75% | ||||||||
69,634 | Adobe Systems, Inc. (a) | 4,170 | ||||||
3,359 | SolarWinds, Inc. (a) | 127 | ||||||
22,478 | Workday, Inc., Class – A (a) | 1,869 | ||||||
6,166 | ||||||||
Asset Management & Custody Banks — 0.34% | ||||||||
7,365 | BlackRock, Inc., Class – A | 2,331 | ||||||
3,760 | Federated Investors, Inc., Class – B | 108 | ||||||
4,995 | Waddell & Reed Financial, Inc., Class – A | 325 | ||||||
2,764 | ||||||||
Auto Parts & Equipment — 0.03% | ||||||||
8,334 | Gentex Corp. | 275 | ||||||
Automobile Manufacturers — 0.24% | ||||||||
13,001 | Tesla Motors, Inc. (a) | 1,955 | ||||||
Automotive Retail — 0.11% | ||||||||
7,039 | O'Reilly Automotive, Inc. (a) | 906 | ||||||
Beverages — 0.36% | ||||||||
8,466 | Brown-Forman Corp., Class – B | 640 | ||||||
17,953 | Diageo PLC, ADR | 2,376 | ||||||
3,016 |
Shares | Security Description | Value (000) | ||||||
Biotechnology — 3.24% | ||||||||
31,503 | Alexion Pharmaceuticals, Inc. (a) | $ | 4,192 | |||||
44,577 | Amgen, Inc. | 5,089 | ||||||
20,483 | Biogen Idec, Inc. (a) | 5,730 | ||||||
14,588 | Celgene Corp. (a) | 2,465 | ||||||
57,787 | Gilead Sciences, Inc. (a) | 4,343 | ||||||
4,469 | Regeneron Pharmaceuticals, Inc. (a) | 1,230 | ||||||
49,265 | Vertex Pharmaceuticals, Inc. (a) | 3,660 | ||||||
26,709 | ||||||||
Capital Markets — 1.93% | ||||||||
24,065 | Franklin Resources, Inc. | 1,389 | ||||||
24,530 | Goldman Sachs Group, Inc. | 4,348 | ||||||
100,666 | Morgan Stanley | 3,157 | ||||||
7,915 | SEI Investments Co. | 275 | ||||||
75,156 | State Street Corp. | 5,516 | ||||||
14,687 | T. Rowe Price Group, Inc. | 1,230 | ||||||
15,915 | ||||||||
Commercial Services & Supplies — 0.19% | ||||||||
6,143 | Cintas Corp. | 366 | ||||||
5,843 | Copart, Inc. (a) | 214 | ||||||
3,840 | Rollins, Inc. | 116 | ||||||
4,822 | Stericycle, Inc. (a) | 561 | ||||||
6,989 | Waste Connections, Inc. | 305 | ||||||
1,562 | ||||||||
Communications Equipment — 2.51% | ||||||||
313,392 | Cisco Systems, Inc. | 7,036 | ||||||
3,986 | F5 Networks, Inc. (a) | 362 | ||||||
179,204 | Qualcomm, Inc. | 13,306 | ||||||
20,704 | ||||||||
Computer & Electronics Retail — 0.08% | ||||||||
15,712 | Best Buy Co., Inc. | 627 | ||||||
Computer Hardware — 3.52% | ||||||||
51,712 | Apple, Inc. | 29,015 | ||||||
Computer Storage & Peripherals — 0.07% | ||||||||
4,178 | Lexmark International, Inc., Class – A | 148 | ||||||
9,369 | Teradata Corp. (a) | 427 | ||||||
575 | ||||||||
Construction & Engineering — 0.08% | ||||||||
6,530 | AECOM Technology Corp. (a) | 192 | ||||||
7,394 | Jacobs Engineering Group, Inc. (a) | 466 | ||||||
658 | ||||||||
Consumer Electronics — 0.04% | ||||||||
6,333 | Garmin Ltd. | 293 | ||||||
Consumer Finance — 0.55% | ||||||||
49,880 | American Express Co. | 4,526 | ||||||
Data Processing & Outsourced Services — 1.28% | ||||||||
97,349 | Automatic Data Processing, Inc. | 7,867 | ||||||
7,052 | Broadridge Financial Solutions, Inc. | 279 | ||||||
2,680 | FleetCor Technologies, Inc. (a) | 314 | ||||||
4,452 | Global Payments, Inc. | 289 | ||||||
4,981 | Jack Henry & Associates, Inc. | 295 | ||||||
18,638 | Paychex, Inc. | 849 |
See accompanying notes to financial statements.
14
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Data Processing & Outsourced Services (continued) | ||||||||
35,780 | Western Union Co. | $ | 617 | |||||
10,510 | ||||||||
Department Stores — 0.10% | ||||||||
14,062 | Kohl's Corp. | 798 | ||||||
Distributors — 0.09% | ||||||||
8,923 | Genuine Parts Co. | 742 | ||||||
Diversified Consumer Services — 0.01% | ||||||||
1,591 | ITT Educational Services, Inc. (a) | 53 | ||||||
Diversified Financial Services — 0.11% | ||||||||
4,153 | IntercontinentalExchange Group, Inc. | 934 | ||||||
Drug Retail — 0.97% | ||||||||
72,082 | CVS Caremark Corp. | 5,159 | ||||||
48,993 | Walgreen Co. | 2,814 | ||||||
7,973 | ||||||||
Education Services — 0.02% | ||||||||
6,315 | Apollo Group, Inc., Class – A (a) | 173 | ||||||
Electrical Components & Equipment — 0.65% | ||||||||
13,937 | AMETEK, Inc. | 734 | ||||||
7,004 | Eaton Corp. PLC | 533 | ||||||
42,289 | Emerson Electric Co. | 2,968 | ||||||
3,362 | Hubbell, Inc., Class – B | 366 | ||||||
5,680 | Roper Industries, Inc. | 788 | ||||||
5,389 | ||||||||
Electronic Equipment, Instruments & Components — 0.17% | ||||||||
9,342 | Amphenol Corp., Class – A | 833 | ||||||
3,071 | Dolby Laboratories, Inc., Class – A (a) | 118 | ||||||
8,961 | FLIR Systems, Inc. | 270 | ||||||
5,081 | National Instruments Corp. | 163 | ||||||
1,384 | ||||||||
Energy Equipment & Services — 0.02% | ||||||||
1,245 | CARBO Ceramics, Inc. | 145 | ||||||
Fertilizers & Agricultural Chemicals — 1.42% | ||||||||
100,496 | Monsanto Co. | 11,713 | ||||||
Food & Staples Retailing — 1.50% | ||||||||
63,336 | Costco Wholesale Corp. | 7,538 | ||||||
83,641 | Whole Foods Market, Inc. | 4,837 | ||||||
12,375 | ||||||||
Food Distributors — 0.15% | ||||||||
34,086 | Sysco Corp. | 1,231 | ||||||
Food Products — 0.21% | ||||||||
9,828 | Flowers Foods, Inc. | 211 | ||||||
7,662 | Hormel Foods Corp. | 346 | ||||||
7,622 | McCormick & Co., Inc. | 525 | ||||||
6,391 | The J.M. Smucker Co. | 663 | ||||||
1,745 | ||||||||
Food Retail — 0.07% | ||||||||
13,872 | Sprouts Farmers Market, Inc. (a) | 533 | ||||||
1,669 | The Fresh Market, Inc. (a) | 68 | ||||||
601 |
Shares | Security Description | Value (000) | ||||||
Footwear — 0.02% | ||||||||
2,099 | Deckers Outdoor Corp. (a) | $ | 177 | |||||
Health Care Distributors — 0.26% | ||||||||
13,473 | McKesson Corp. | 2,175 | ||||||
Health Care Equipment & Supplies — 2.22% | ||||||||
31,593 | Baxter International, Inc. | 2,197 | ||||||
11,716 | Becton, Dickinson & Co. | 1,295 | ||||||
4,886 | C.R. Bard, Inc. | 654 | ||||||
27,904 | Covidien PLC | 1,900 | ||||||
8,040 | Dentsply International, Inc. | 390 | ||||||
6,140 | Edwards Lifesciences Corp. (a) | 404 | ||||||
9,499 | Hospira, Inc. (a) | 392 | ||||||
22,224 | IDEXX Laboratories, Inc. (a) | 2,364 | ||||||
2,225 | Intuitive Surgical, Inc. (a) | 855 | ||||||
59,755 | Medtronic, Inc. | 3,429 | ||||||
8,129 | ResMed, Inc. | 383 | ||||||
18,018 | St. Jude Medical, Inc. | 1,116 | ||||||
17,799 | Stryker Corp. | 1,337 | ||||||
6,407 | Varian Medical Systems, Inc. (a) | 498 | ||||||
10,210 | Zimmer Holdings, Inc. | 951 | ||||||
18,165 | ||||||||
Health Care Providers & Services — 1.29% | ||||||||
14,540 | AmerisourceBergen Corp. | 1,022 | ||||||
93,155 | Express Scripts Holding Co. (a) | 6,543 | ||||||
5,287 | Henry Schein, Inc. (a) | 604 | ||||||
9,488 | Humana, Inc. | 979 | ||||||
5,555 | Laboratory Corp. of America Holdings (a) | 508 | ||||||
5,636 | MEDNAX, Inc. (a) | 301 | ||||||
5,453 | Patterson Cos., Inc. | 225 | ||||||
8,751 | Quest Diagnostics, Inc. | 469 | ||||||
10,651 | ||||||||
Health Care Technology — 0.62% | ||||||||
91,609 | Cerner Corp. (a) | 5,106 | ||||||
Hotels, Restaurants & Leisure — 3.04% | ||||||||
4,676 | Chipotle Mexican Grill, Inc. (a) | 2,491 | ||||||
1,598 | Panera Bread Co., Class – A (a) | 282 | ||||||
130,129 | Starbucks Corp. | 10,201 | ||||||
57,710 | Starwood Hotels & Resorts Worldwide, Inc. | 4,585 | ||||||
98,661 | YUM! Brands, Inc. | 7,460 | ||||||
25,019 | ||||||||
Household Products — 2.81% | ||||||||
7,974 | Church & Dwight Co., Inc. | 529 | ||||||
135,707 | Colgate-Palmolive Co. | 8,849 | ||||||
22,419 | Kimberly-Clark Corp. | 2,342 | ||||||
7,387 | The Clorox Co. | 685 | ||||||
131,946 | The Procter & Gamble Co. | 10,742 | ||||||
23,147 | ||||||||
Human Resource & Employment Services — 0.05% | ||||||||
3,530 | Towers Watson & Co., Class – A | 450 | ||||||
Hypermarkets & Super Centers — 0.92% | ||||||||
96,440 | Wal-Mart Stores, Inc. | 7,589 |
See accompanying notes to financial statements.
15
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Industrial Conglomerates — 0.68% | ||||||||
40,210 | 3M Co. | $ | 5,639 | |||||
Industrial Gases — 0.78% | ||||||||
49,090 | Praxair, Inc. | 6,383 | ||||||
Industrial Machinery — 0.41% | ||||||||
4,863 | IDEX Corp. | 359 | ||||||
24,353 | Illinois Tool Works, Inc. | 2,048 | ||||||
6,635 | Pall Corp. | 566 | ||||||
10,954 | Xylem, Inc. | 379 | ||||||
3,352 | ||||||||
Insurance — 0.08% | ||||||||
6,678 | Brown & Brown, Inc. | 210 | ||||||
5,733 | Torchmark Corp. | 448 | ||||||
658 | ||||||||
Integrated Oil & Gas — 2.65% | ||||||||
80,008 | Chevron Corp. | 9,994 | ||||||
116,574 | Exxon Mobil Corp. | 11,797 | ||||||
21,791 | ||||||||
Internet & Catalog Retail — 2.27% | ||||||||
23,667 | Amazon.com, Inc. (a) | 9,438 | ||||||
7,343 | Netflix.com, Inc. (a) | 2,703 | ||||||
5,662 | Priceline.com, Inc. (a) | 6,582 | ||||||
18,723 | ||||||||
Internet Retail — 0.19% | ||||||||
19,359 | TripAdvisor, Inc. (a) | 1,604 | ||||||
Internet Software & Services — 7.59% | ||||||||
217,163 | eBay, Inc. (a) | 11,920 | ||||||
113,555 | Facebook, Inc., Class – A (a) | 6,207 | ||||||
29,532 | Google, Inc., Class – A (a) | 33,096 | ||||||
31,472 | LinkedIn Corp., Class – A (a) | 6,824 | ||||||
6,260 | Rackspace Hosting, Inc. (a) | 245 | ||||||
37,264 | Splunk, Inc. (a) | 2,559 | ||||||
23,352 | Twitter, Inc. (a) | 1,486 | ||||||
8,155 | Youku, Inc., ADR (a) | 247 | ||||||
62,584 | ||||||||
IT Consulting & Other Services — 0.03% | ||||||||
4,075 | Leidos Holdings, Inc. | 189 | ||||||
2,350 | Science Applications International Corp. | 78 | ||||||
267 | ||||||||
IT Services — 5.18% | ||||||||
36,598 | Accenture PLC, Class – A | 3,009 | ||||||
17,853 | Cognizant Technology Solutions Corp. (a) | 1,803 | ||||||
45,906 | International Business Machines Corp. | 8,611 | ||||||
4,675 | Lender Processing Services, Inc. | 175 | ||||||
12,266 | MasterCard, Inc., Class – A | 10,247 | ||||||
3,814 | NeuStar, Inc., Class – A (a) | 190 | ||||||
9,262 | Total System Services, Inc. | 308 | ||||||
82,715 | Visa, Inc., Class – A | 18,418 | ||||||
42,761 | ||||||||
Leisure Equipment & Products — 0.07% | ||||||||
3,775 | Polaris Industries, Inc. | 550 |
Shares | Security Description | Value (000) | ||||||
Life Sciences Tools & Services — 0.46% | ||||||||
3,126 | Covance, Inc. (a) | $ | 275 | |||||
1,800 | Mettler-Toledo International, Inc. (a) | 437 | ||||||
1,958 | Techne Corp. | 185 | ||||||
21,054 | Thermo Electron Corp. | 2,344 | ||||||
5,058 | Waters Corp. (a) | 506 | ||||||
3,747 | ||||||||
Machinery — 0.41% | ||||||||
33,683 | Danaher Corp. | 2,600 | ||||||
8,232 | Donaldson Co., Inc. | 358 | ||||||
5,355 | Wabtec Corp. | 398 | ||||||
3,356 | ||||||||
Managed Health Care — 0.77% | ||||||||
60,708 | UnitedHealth Group, Inc. | 4,572 | ||||||
19,065 | WellPoint, Inc. | 1,761 | ||||||
6,333 | ||||||||
Marine — 0.04% | ||||||||
3,132 | Kirby Corp. (a) | 311 | ||||||
Media — 1.86% | ||||||||
38,914 | Discovery Communications, Inc. (a) | 3,519 | ||||||
1,549 | Morningstar, Inc. | 121 | ||||||
4,867 | Scripps Networks Interactive, Class – A | 421 | ||||||
16,032 | The McGraw-Hill Cos., Inc. | 1,254 | ||||||
111,667 | The Walt Disney Co. | 8,530 | ||||||
41,552 | Twenty-First Century Fox, Inc. | 1,462 | ||||||
15,307 | ||||||||
Metal & Glass Containers — 0.03% | ||||||||
3,780 | AptarGroup, Inc. | 256 | ||||||
Multiline Retail — 0.14% | ||||||||
13,293 | Dollar Tree, Inc. (a) | 750 | ||||||
5,697 | Family Dollar Stores, Inc. | 370 | ||||||
1,120 | ||||||||
Office Electronics — 0.02% | ||||||||
2,799 | Zebra Technologies Corp. (a) | 151 | ||||||
Oil & Gas Equipment & Services — 2.17% | ||||||||
37,223 | FMC Technologies, Inc. (a) | 1,943 | ||||||
80,204 | National Oilwell Varco, Inc. | 6,379 | ||||||
6,198 | Oceaneering International, Inc. | 489 | ||||||
101,388 | Schlumberger Ltd. | 9,136 | ||||||
17,947 | ||||||||
Oil & Gas Exploration & Production — 0.71% | ||||||||
27,648 | Concho Resources, Inc. (a) | 2,986 | ||||||
17,052 | EOG Resources, Inc. | 2,862 | ||||||
5,848 | ||||||||
Oil & Gas Refining & Marketing — 0.02% | ||||||||
3,840 | World Fuel Services Corp. | 166 | ||||||
Packaged Foods & Meats — 0.57% | ||||||||
13,919 | Kellogg Co. | 850 | ||||||
108,428 | Mondelez International, Inc., Class – A | 3,828 | ||||||
4,678 |
See accompanying notes to financial statements.
16
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Personal Products — 0.74% | ||||||||
11,653 | Mead Johnson Nutrition Co. | $ | 976 | |||||
3,243 | Nu Skin Enterprises, Inc., Class – A | 448 | ||||||
61,860 | The Estee Lauder Cos., Inc., Class – A | 4,660 | ||||||
6,084 | ||||||||
Pharmaceuticals — 8.03% | ||||||||
170,693 | Abbott Laboratories | 6,543 | ||||||
89,699 | AbbVie, Inc. | 4,737 | ||||||
57,155 | Allergan, Inc. | 6,349 | ||||||
94,505 | Bristol-Myers Squibb Co. | 5,023 | ||||||
58,408 | Eli Lilly & Co. | 2,979 | ||||||
15,231 | Forest Laboratories, Inc. (a) | 914 | ||||||
124,147 | Johnson & Johnson | 11,370 | ||||||
3,296 | Mallinckrodt PLC (a) | 172 | ||||||
196,071 | Merck & Co., Inc. | 9,812 | ||||||
36,795 | Novo Nordisk A/S, ADR | 6,798 | ||||||
46,831 | Perrigo Co. PLC | 7,187 | ||||||
79,168 | Sanofi-Aventis, ADR | 4,246 | ||||||
66,130 | ||||||||
Professional Services — 0.13% | ||||||||
6,944 | Equifax, Inc. | 480 | ||||||
8,372 | Versik Analytics, Inc., Class – A (a) | 550 | ||||||
1,030 | ||||||||
Publishing — 0.02% | ||||||||
2,597 | John Wiley & Sons, Inc., Class – A | 143 | ||||||
Railroads — 0.50% | ||||||||
18,999 | Canadian Pacific Railway Ltd. | 2,875 | ||||||
9,753 | Kansas City Southern Industries | 1,208 | ||||||
4,083 | ||||||||
Regional Banks — 0.03% | ||||||||
3,013 | Cullen/Frost Bankers, Inc. | 224 | ||||||
Restaurants — 1.04% | ||||||||
7,152 | Darden Restaurants, Inc. | 389 | ||||||
56,465 | Dunkin' Brands Group, Inc. | 2,722 | ||||||
56,431 | McDonald's Corp. | 5,475 | ||||||
8,586 | ||||||||
Road & Rail — 0.38% | ||||||||
2,522 | Landstar System, Inc. | 145 | ||||||
17,836 | Union Pacific Corp. | 2,996 | ||||||
3,141 | ||||||||
Semiconductors — 1.06% | ||||||||
18,779 | Altera Corp. | 611 | ||||||
294,568 | Intel Corp. | 7,646 | ||||||
11,254 | Microchip Technology, Inc. | 504 | ||||||
8,761 |
Shares | Security Description | Value (000) | ||||||
Semiconductors & Semiconductor Equipment — 0.28% | ||||||||
42,338 | ARM Holdings PLC, ADR | $ | 2,318 | |||||
Soft Drinks — 2.07% | ||||||||
7,761 | Monster Beverage Corp. (a) | 526 | ||||||
89,586 | PepsiCo, Inc. | 7,430 | ||||||
219,302 | The Coca-Cola Co. | 9,060 | ||||||
17,016 | ||||||||
Software — 3.56% | ||||||||
5,312 | ANSYS, Inc. (a) | 463 | ||||||
10,331 | Citrix Systems, Inc. (a) | 653 | ||||||
2,670 | FactSet Research Systems, Inc. | 290 | ||||||
16,938 | Intuit, Inc. | 1,293 | ||||||
4,817 | MICROS Systems, Inc. (a) | 276 | ||||||
221,160 | Oracle Corp. | 8,462 | ||||||
58,243 | Red Hat, Inc. (a) | 3,264 | ||||||
127,480 | Salesforce.com, Inc. (a) | 7,036 | ||||||
46,610 | SAP AG, ADR | 4,062 | ||||||
39,759 | VMware, Inc., Class – A (a) | 3,567 | ||||||
29,366 | ||||||||
Specialized Finance — 0.03% | ||||||||
4,956 | CBOE Holdings, Inc. | 258 | ||||||
Specialized Real Estate Investment Trusts — 0.28% | ||||||||
28,869 | American Tower Corp. | 2,304 | ||||||
Specialty Chemicals — 0.98% | ||||||||
58,673 | Ecolab, Inc. | 6,118 | ||||||
4,570 | International Flavors & Fragrances, Inc. | 393 | ||||||
6,954 | Sigma-Aldrich Corp. | 654 | ||||||
4,906 | The Sherwin-Williams Co. | 900 | ||||||
8,065 | ||||||||
Specialty Retail — 2.63% | ||||||||
4,676 | Aaron's, Inc. | 137 | ||||||
4,105 | Advance Auto Parts, Inc. | 454 | ||||||
2,085 | AutoZone, Inc. (a) | 997 | ||||||
13,416 | Bed Bath & Beyond, Inc. (a) | 1,077 | ||||||
5,435 | Dick's Sporting Goods, Inc. | 316 | ||||||
114,640 | Lowe's Cos., Inc. | 5,680 | ||||||
6,053 | PetSmart, Inc. | 440 | ||||||
12,768 | Ross Stores, Inc. | 957 | ||||||
4,865 | Signet Jewelers Ltd. | 383 | ||||||
87,561 | The Home Depot, Inc. | 7,210 | ||||||
36,846 | Tiffany & Co. | 3,419 | ||||||
3,593 | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | 347 | ||||||
5,923 | Urban Outfitters, Inc. (a) | 220 | ||||||
21,637 | ||||||||
Specialty Stores — 0.08% | ||||||||
40,416 | Staples, Inc. | 642 | ||||||
Systems Software — 0.12% | ||||||||
11,746 | FireEye, Inc. (a) | 512 | ||||||
7,090 | Tableau Software, Inc., Class – A (a) | 489 | ||||||
1,001 |
See accompanying notes to financial statements.
17
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Textiles, Apparel & Luxury Goods — 1.16% | ||||||||
105,503 | NIKE, Inc., Class – B | $ | 8,297 | |||||
19,928 | V.F. Corp. | 1,242 | ||||||
9,539 | ||||||||
Tobacco — 1.13% | ||||||||
22,484 | Lorillard, Inc. | 1,139 | ||||||
93,438 | Philip Morris International, Inc. | 8,142 | ||||||
9,281 | ||||||||
Trading Companies & Distributors — 0.74% | ||||||||
105,755 | Fastenal Co. | 5,025 | ||||||
2,546 | MSC Industrial Direct Co., Inc., Class – A | 206 | ||||||
3,224 | W.W. Grainger, Inc. | 823 | ||||||
6,054 | ||||||||
Total Common Stocks | 746,765 | |||||||
Time Deposit — 0.95% | ||||||||
$7,821 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/14 | 7,821 | ||||||
Total Time Deposit | 7,821 |
Shares | Security Description | Value (000) | ||||||
Mutual Funds — 8.59% | ||||||||
70,090,781 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (b) | $ | 70,090 | |||||
648,678 | SSgA Treasury Money Market Fund, 0.00% (b) | 649 | ||||||
Total Mutual Funds | 70,739 | |||||||
Total Investments (cost $526,243) — 100.22% | 825,325 | |||||||
Liabilities in excess of other assets — (0.22)% | (1,809 | ) | ||||||
Net Assets — 100.00% | $ | 823,516 |
(a) | Represents non-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2013. |
ADR — American Depositary Receipt
The following table reflects the percentage of the total net assets of the Portfolio attributable to each Specialist Manager, see Note 3 in the Notes to Financial Statements.
The Growth Equity Portfolio | Jennison Associates LLC | Mellon Capital Management Corporation | Sustainable Growth Advisers | Total | ||||||||||||
Common Stocks | 29.95 | % | 44.48 | % | 16.25 | % | 90.68 | % | ||||||||
Time Deposit | 0.46 | % | — | 0.49 | % | 0.95 | % | |||||||||
Mutual Fund | — | 8.59 | % | — | 8.59 | % | ||||||||||
Other Assets (Liabilities) | -0.28 | % | 0.05 | % | 0.01 | % | -0.22 | % | ||||||||
Total Net Assets | 30.13 | % | 53.12 | % | 16.75 | % | 100.00 | % |
See accompanying notes to financial statements.
18
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 79.39% | ||||||||
Advertising — 0.14% | ||||||||
25,894 | Omnicom Group, Inc. | $ | 1,926 | |||||
Aerospace & Defense — 3.13% | ||||||||
6,101 | Engility Holdings, Inc. (a) | 204 | ||||||
30,555 | General Dynamics Corp. | 2,920 | ||||||
9,603 | L-3 Communications Holdings, Inc. | 1,026 | ||||||
43,265 | Precision Castparts Corp. | 11,651 | ||||||
14,042 | Rockwell Collins, Inc. | 1,038 | ||||||
21,418 | Rolls-Royce Holdings PLC, ADR | 2,271 | ||||||
55,439 | The Boeing Co. | 7,567 | ||||||
139,546 | United Technologies Corp. | 15,880 | ||||||
42,557 | ||||||||
Air Freight & Logistics — 0.14% | ||||||||
16,065 | C.H. Robinson Worldwide, Inc. | 938 | ||||||
20,915 | Expeditors International of Washington, Inc. | 925 | ||||||
1,863 | ||||||||
Apparel Retail — 1.61% | ||||||||
8,431 | Abercrombie & Fitch Co., Class – A | 277 | ||||||
12,526 | Ascena Retail Group, Inc. (a) | 265 | ||||||
6,722 | Guess?, Inc. | 209 | ||||||
233,433 | Industria de Diseno Textil SA, ADR | 7,708 | ||||||
209,358 | The TJX Cos., Inc. | 13,343 | ||||||
21,802 | ||||||||
Apparel, Accessories & Luxury Goods — 1.44% | ||||||||
27,606 | Coach, Inc. | 1,550 | ||||||
5,263 | Fossil Group, Inc. (a) | 631 | ||||||
54,768 | Michael Kors Holdings Ltd. (a) | 4,447 | ||||||
26,521 | Ralph Lauren Corp. | 4,683 | ||||||
119,079 | The Swatch Group AG, ADR | 3,953 | ||||||
47,597 | Under Armour, Inc., Class – A (a) | 4,155 | ||||||
19,419 | ||||||||
Application Software — 0.74% | ||||||||
112,192 | Adobe Systems, Inc. (a) | 6,717 | ||||||
6,314 | SolarWinds, Inc. (a) | 239 | ||||||
38,090 | Workday, Inc., Class – A (a) | 3,168 | ||||||
10,124 | ||||||||
Asset Management & Custody Banks — 0.34% | ||||||||
12,317 | BlackRock, Inc., Class – A | 3,898 | ||||||
8,268 | Federated Investors, Inc., Class – B | 238 | ||||||
8,135 | Waddell & Reed Financial, Inc., Class – A | 530 | ||||||
4,666 | ||||||||
Auto Parts & Equipment — 0.03% | ||||||||
13,421 | Gentex Corp. | 443 | ||||||
Automobile Manufacturers — 0.23% | ||||||||
20,498 | Tesla Motors, Inc. (a) | 3,082 | ||||||
Automotive Retail — 0.11% | ||||||||
11,571 | O'Reilly Automotive, Inc. (a) | 1,489 |
Shares | Security Description | Value (000) | ||||||
Beverages — 0.35% | ||||||||
14,170 | Brown-Forman Corp., Class – B | $ | 1,071 | |||||
28,386 | Diageo PLC, ADR | 3,758 | ||||||
4,829 | ||||||||
Biotechnology — 3.01% | ||||||||
49,112 | Alexion Pharmaceuticals, Inc. (a) | 6,535 | ||||||
74,923 | Amgen, Inc. | 8,553 | ||||||
32,270 | Biogen Idec, Inc. (a) | 9,027 | ||||||
23,080 | Celgene Corp. (a) | 3,900 | ||||||
91,143 | Gilead Sciences, Inc. (a) | 6,849 | ||||||
2,509 | Regeneron Pharmaceuticals, Inc. (a) | 691 | ||||||
73,339 | Vertex Pharmaceuticals, Inc. (a) | 5,449 | ||||||
41,004 | ||||||||
Capital Markets — 1.44% | ||||||||
40,171 | Franklin Resources, Inc. | 2,319 | ||||||
38,517 | Goldman Sachs Group, Inc. | 6,827 | ||||||
158,053 | Morgan Stanley | 4,957 | ||||||
13,402 | SEI Investments Co. | 465 | ||||||
39,823 | State Street Corp. | 2,923 | ||||||
24,592 | T. Rowe Price Group, Inc. | 2,060 | ||||||
19,551 | ||||||||
Commercial Services & Supplies — 0.20% | ||||||||
10,829 | Cintas Corp. | 645 | ||||||
9,406 | Copart, Inc. (a) | 345 | ||||||
6,404 | Rollins, Inc. | 194 | ||||||
8,289 | Stericycle, Inc. (a) | 963 | ||||||
11,905 | Waste Connections, Inc. | 519 | ||||||
2,666 | ||||||||
Communications Equipment — 2.06% | ||||||||
527,799 | Cisco Systems, Inc. | 11,849 | ||||||
6,779 | F5 Networks, Inc. (a) | 616 | ||||||
210,196 | Qualcomm, Inc. | 15,607 | ||||||
28,072 | ||||||||
Computer & Electronics Retail — 0.08% | ||||||||
26,798 | Best Buy Co., Inc. | 1,069 | ||||||
Computer Hardware — 3.14% | ||||||||
76,061 | Apple, Inc. | 42,679 | ||||||
Computer Storage & Peripherals — 0.07% | ||||||||
7,786 | Lexmark International, Inc., Class – A | 277 | ||||||
15,663 | Teradata Corp. (a) | 712 | ||||||
989 | ||||||||
Construction & Engineering — 0.08% | ||||||||
11,437 | AECOM Technology Corp. (a) | 337 | ||||||
12,655 | Jacobs Engineering Group, Inc. (a) | 797 | ||||||
1,134 | ||||||||
Consumer Electronics — 0.03% | ||||||||
10,270 | Garmin Ltd. | 475 |
See accompanying notes to financial statements.
19
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Consumer Finance — 0.20% | ||||||||
30,140 | American Express Co. | $ | 2,735 | |||||
Data Processing & Outsourced Services — 0.83% | ||||||||
85,280 | Automatic Data Processing, Inc. | 6,891 | ||||||
12,164 | Broadridge Financial Solutions, Inc. | 481 | ||||||
4,466 | FleetCor Technologies, Inc. (a) | 523 | ||||||
7,550 | Global Payments, Inc. | 491 | ||||||
8,548 | Jack Henry & Associates, Inc. | 506 | ||||||
30,951 | Paychex, Inc. | 1,409 | ||||||
60,113 | Western Union Co. | 1,037 | ||||||
11,338 | ||||||||
Department Stores — 0.10% | ||||||||
23,370 | Kohl's Corp. | 1,326 | ||||||
Distributors — 0.09% | ||||||||
14,905 | Genuine Parts Co. | 1,240 | ||||||
Diversified Consumer Services — 0.01% | ||||||||
2,525 | ITT Educational Services, Inc. (a) | 85 | ||||||
Diversified Financial Services — 0.11% | ||||||||
6,906 | IntercontinentalExchange Group, Inc. | 1,553 | ||||||
Drug Retail — 0.99% | ||||||||
121,418 | CVS Caremark Corp. | 8,690 | ||||||
82,244 | Walgreen Co. | 4,724 | ||||||
13,414 | ||||||||
Education Services — 0.02% | ||||||||
10,517 | Apollo Group, Inc., Class – A (a) | 287 | ||||||
Electrical Components & Equipment — 0.67% | ||||||||
23,451 | AMETEK, Inc. | 1,235 | ||||||
12,087 | Eaton Corp. PLC | 920 | ||||||
70,990 | Emerson Electric Co. | 4,981 | ||||||
5,562 | Hubbell, Inc., Class – B | 606 | ||||||
9,342 | Roper Industries, Inc. | 1,296 | ||||||
9,038 | ||||||||
Electronic Equipment, Instruments & Components — 0.17% | ||||||||
15,727 | Amphenol Corp., Class – A | 1,402 | ||||||
5,189 | Dolby Laboratories, Inc., Class – A (a) | 200 | ||||||
14,515 | FLIR Systems, Inc. | 437 | ||||||
9,448 | National Instruments Corp. | 303 | ||||||
2,342 | ||||||||
Energy Equipment & Services — 0.02% | ||||||||
1,897 | CARBO Ceramics, Inc. | 221 | ||||||
Fertilizers & Agricultural Chemicals — 0.94% | ||||||||
109,616 | Monsanto Co. | 12,776 | ||||||
Food & Staples Retailing — 1.46% | ||||||||
103,035 | Costco Wholesale Corp. | 12,263 | ||||||
131,411 | Whole Foods Market, Inc. | 7,599 | ||||||
19,862 |
Shares | Security Description | Value (000) | ||||||
Food Distributors — 0.15% | ||||||||
56,810 | Sysco Corp. | $ | 2,051 | |||||
Food Products — 0.22% | ||||||||
16,974 | Flowers Foods, Inc. | 364 | ||||||
13,383 | Hormel Foods Corp. | 605 | ||||||
13,018 | McCormick & Co., Inc. | 897 | ||||||
10,704 | The J.M. Smucker Co. | 1,109 | ||||||
2,975 | ||||||||
Food Retail — 0.07% | ||||||||
21,693 | Sprouts Farmers Market, Inc. (a) | 833 | ||||||
2,856 | The Fresh Market, Inc. (a) | 116 | ||||||
949 | ||||||||
Footwear — 0.02% | ||||||||
3,740 | Deckers Outdoor Corp. (a) | 316 | ||||||
Health Care Distributors — 0.27% | ||||||||
22,538 | McKesson Corp. | 3,638 | ||||||
Health Care Equipment & Supplies — 2.07% | ||||||||
52,933 | Baxter International, Inc. | 3,682 | ||||||
19,529 | Becton, Dickinson & Co. | 2,158 | ||||||
8,249 | C.R. Bard, Inc. | 1,105 | ||||||
46,628 | Covidien PLC | 3,175 | ||||||
14,076 | Dentsply International, Inc. | 682 | ||||||
10,486 | Edwards Lifesciences Corp. (a) | 690 | ||||||
16,311 | Hospira, Inc. (a) | 673 | ||||||
16,126 | IDEXX Laboratories, Inc. (a) | 1,715 | ||||||
3,812 | Intuitive Surgical, Inc. (a) | 1,464 | ||||||
100,521 | Medtronic, Inc. | 5,770 | ||||||
13,901 | ResMed, Inc. | 654 | ||||||
30,079 | St. Jude Medical, Inc. | 1,863 | ||||||
29,682 | Stryker Corp. | 2,230 | ||||||
10,937 | Varian Medical Systems, Inc. (a) | 850 | ||||||
16,830 | Zimmer Holdings, Inc. | 1,568 | ||||||
28,279 | ||||||||
Health Care Providers & Services — 1.28% | ||||||||
24,177 | AmerisourceBergen Corp. | 1,700 | ||||||
149,999 | Express Scripts Holding Co. (a) | 10,535 | ||||||
8,961 | Henry Schein, Inc. (a) | 1,024 | ||||||
15,653 | Humana, Inc. | 1,616 | ||||||
9,435 | Laboratory Corp. of America Holdings (a) | 862 | ||||||
9,785 | MEDNAX, Inc. (a) | 522 | ||||||
9,196 | Patterson Cos., Inc. | 379 | ||||||
14,877 | Quest Diagnostics, Inc. | 797 | ||||||
17,435 | ||||||||
Health Care Technology — 0.29% | ||||||||
69,603 | Cerner Corp. (a) | 3,880 | ||||||
Hotels, Restaurants & Leisure — 1.88% | ||||||||
7,391 | Chipotle Mexican Grill, Inc. (a) | 3,938 | ||||||
2,812 | Panera Bread Co., Class – A (a) | 497 |
See accompanying notes to financial statements.
20
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Hotels, Restaurants & Leisure (continued) | ||||||||
157,334 | Starbucks Corp. | $ | 12,332 | |||||
31,400 | Starwood Hotels & Resorts Worldwide, Inc. | 2,495 | ||||||
84,190 | YUM! Brands, Inc. | 6,366 | ||||||
25,628 | ||||||||
Household Products — 2.43% | ||||||||
13,514 | Church & Dwight Co., Inc. | 896 | ||||||
137,275 | Colgate-Palmolive Co. | 8,952 | ||||||
37,600 | Kimberly-Clark Corp. | 3,928 | ||||||
12,626 | The Clorox Co. | 1,171 | ||||||
222,314 | The Procter & Gamble Co. | 18,098 | ||||||
33,045 | ||||||||
Human Resource & Employment Services — 0.06% | ||||||||
5,936 | Towers Watson & Co., Class – A | 757 | ||||||
Hypermarkets & Super Centers — 0.94% | ||||||||
162,220 | Wal-Mart Stores, Inc. | 12,765 | ||||||
Industrial Conglomerates — 0.70% | ||||||||
67,742 | 3M Co. | 9,501 | ||||||
Industrial Gases — 0.44% | ||||||||
46,340 | Praxair, Inc. | 6,026 | ||||||
Industrial Machinery — 0.42% | ||||||||
8,194 | IDEX Corp. | 605 | ||||||
41,004 | Illinois Tool Works, Inc. | 3,448 | ||||||
11,218 | Pall Corp. | 957 | ||||||
18,633 | Xylem, Inc. | 645 | ||||||
5,655 | ||||||||
Insurance — 0.08% | ||||||||
11,249 | Brown & Brown, Inc. | 353 | ||||||
9,731 | Torchmark Corp. | 761 | ||||||
1,114 | ||||||||
Integrated Oil & Gas — 2.70% | ||||||||
134,780 | Chevron Corp. | 16,835 | ||||||
196,424 | Exxon Mobil Corp. | 19,878 | ||||||
36,713 | ||||||||
Internet & Catalog Retail — 2.16% | ||||||||
37,013 | Amazon.com, Inc. (a) | 14,761 | ||||||
11,381 | Netflix.com, Inc. (a) | 4,190 | ||||||
9,035 | Priceline.com, Inc. (a) | 10,502 | ||||||
29,453 | ||||||||
Internet Retail — 0.19% | ||||||||
30,663 | TripAdvisor, Inc. (a) | 2,540 | ||||||
Internet Software & Services — 6.28% | ||||||||
233,538 | eBay, Inc. (a) | 12,819 | ||||||
180,799 | Facebook, Inc., Class – A (a) | 9,882 | ||||||
42,458 | Google, Inc., Class – A (a) | 47,583 |
Shares | Security Description | Value (000) | ||||||
Internet Software & Services (continued) | ||||||||
37,720 | LinkedIn Corp., Class – A (a) | $ | 8,179 | |||||
10,704 | Rackspace Hosting, Inc. (a) | 419 | ||||||
58,567 | Splunk, Inc. (a) | 4,022 | ||||||
36,944 | Twitter, Inc. (a) | 2,351 | ||||||
14,636 | Youku, Inc., ADR (a) | 443 | ||||||
85,698 | ||||||||
IT Consulting & Other Services — 0.03% | ||||||||
6,986 | Leidos Holdings, Inc. | 324 | ||||||
4,038 | Science Applications International Corp. | 134 | ||||||
458 | ||||||||
IT Services — 4.69% | ||||||||
61,551 | Accenture PLC, Class – A | 5,061 | ||||||
29,692 | Cognizant Technology Solutions Corp. (a) | 2,998 | ||||||
77,365 | International Business Machines Corp. | 14,511 | ||||||
8,651 | Lender Processing Services, Inc. | 323 | ||||||
19,404 | MasterCard, Inc., Class – A | 16,211 | ||||||
6,431 | NeuStar, Inc., Class – A (a) | 321 | ||||||
15,851 | Total System Services, Inc. | 528 | ||||||
107,501 | Visa, Inc., Class – A | 23,939 | ||||||
63,892 | ||||||||
Leisure Equipment & Products — 0.07% | ||||||||
6,396 | Polaris Industries, Inc. | 932 | ||||||
Life Sciences Tools & Services — 0.47% | ||||||||
5,360 | Covance, Inc. (a) | 472 | ||||||
2,967 | Mettler-Toledo International, Inc. (a) | 720 | ||||||
3,640 | Techne Corp. | 345 | ||||||
35,433 | Thermo Electron Corp. | 3,944 | ||||||
8,695 | Waters Corp. (a) | 870 | ||||||
6,351 | ||||||||
Machinery — 0.42% | ||||||||
56,421 | Danaher Corp. | 4,356 | ||||||
14,415 | Donaldson Co., Inc. | 626 | ||||||
9,420 | Wabtec Corp. | 700 | ||||||
5,682 | ||||||||
Managed Health Care — 0.78% | ||||||||
102,267 | UnitedHealth Group, Inc. | 7,701 | ||||||
32,018 | WellPoint, Inc. | 2,958 | ||||||
10,659 | ||||||||
Marine — 0.04% | ||||||||
5,515 | Kirby Corp. (a) | 547 | ||||||
Media — 1.47% | ||||||||
61,918 | Discovery Communications, Inc. (a) | 5,599 | ||||||
2,327 | Morningstar, Inc. | 182 | ||||||
8,359 | Scripps Networks Interactive, Class – A | 722 | ||||||
26,725 | The McGraw-Hill Cos., Inc. | 2,090 | ||||||
118,459 | The Walt Disney Co. | 9,050 |
See accompanying notes to financial statements.
21
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Media (continued) | ||||||||
65,405 | Twenty-First Century Fox, Inc. | $ | 2,301 | |||||
19,944 | ||||||||
Metal & Glass Containers — 0.03% | ||||||||
6,211 | AptarGroup, Inc. | 421 | ||||||
Multiline Retail — 0.14% | ||||||||
22,232 | Dollar Tree, Inc. (a) | 1,255 | ||||||
9,317 | Family Dollar Stores, Inc. | 605 | ||||||
1,860 | ||||||||
Office Electronics — 0.02% | ||||||||
5,262 | Zebra Technologies Corp. (a) | 285 | ||||||
Oil & Gas Equipment & Services — 1.32% | ||||||||
59,863 | FMC Technologies, Inc. (a) | 3,125 | ||||||
72,194 | National Oilwell Varco, Inc. | 5,742 | ||||||
10,603 | Oceaneering International, Inc. | 836 | ||||||
92,765 | Schlumberger Ltd. | 8,359 | ||||||
18,062 | ||||||||
Oil & Gas Exploration & Production — 0.68% | ||||||||
43,538 | Concho Resources, Inc. (a) | 4,702 | ||||||
27,165 | EOG Resources, Inc. | 4,559 | ||||||
9,261 | ||||||||
Oil & Gas Refining & Marketing — 0.02% | ||||||||
7,259 | World Fuel Services Corp. | 313 | ||||||
Packaged Foods & Meats — 0.55% | ||||||||
23,222 | Kellogg Co. | 1,418 | ||||||
171,439 | Mondelez International, Inc., Class – A | 6,052 | ||||||
7,470 | ||||||||
Personal Products — 0.72% | ||||||||
19,592 | Mead Johnson Nutrition Co. | 1,641 | ||||||
5,350 | Nu Skin Enterprises, Inc., Class – A | 739 | ||||||
98,440 | The Estee Lauder Cos., Inc., Class – A | 7,415 | ||||||
9,795 | ||||||||
Pharmaceuticals — 7.03% | ||||||||
280,807 | Abbott Laboratories | 10,763 | ||||||
151,131 | AbbVie, Inc. | 7,981 | ||||||
92,536 | Allergan, Inc. | 10,279 | ||||||
149,055 | Bristol-Myers Squibb Co. | 7,922 | ||||||
98,238 | Eli Lilly & Co. | 5,010 | ||||||
25,562 | Forest Laboratories, Inc. (a) | 1,534 | ||||||
209,144 | Johnson & Johnson | 19,156 | ||||||
5,526 | Mallinckrodt PLC (a) | 289 | ||||||
327,284 | Merck & Co., Inc. | 16,382 | ||||||
41,605 | Novo Nordisk A/S, ADR | 7,687 | ||||||
42,597 | Perrigo Co. PLC | 6,537 | ||||||
44,388 | Sanofi-Aventis, ADR | 2,381 | ||||||
95,921 |
Shares | Security Description | Value (000) | ||||||
Professional Services — 0.13% | ||||||||
11,757 | Equifax, Inc. | $ | 812 | |||||
14,420 | Versik Analytics, Inc., Class – A (a) | 948 | ||||||
1,760 | ||||||||
Publishing — 0.02% | ||||||||
4,842 | John Wiley & Sons, Inc., Class – A | 267 | ||||||
Railroads — 0.48% | ||||||||
30,220 | Canadian Pacific Railway Ltd. | 4,573 | ||||||
15,429 | Kansas City Southern Industries | 1,911 | ||||||
6,484 | ||||||||
Regional Banks — 0.03% | ||||||||
5,261 | Cullen/Frost Bankers, Inc. | 392 | ||||||
Restaurants — 1.04% | ||||||||
12,195 | Darden Restaurants, Inc. | 663 | ||||||
88,553 | Dunkin' Brands Group, Inc. | 4,268 | ||||||
94,974 | McDonald's Corp. | 9,216 | ||||||
14,147 | ||||||||
Road & Rail — 0.37% | ||||||||
4,742 | Landstar System, Inc. | 272 | ||||||
28,220 | Union Pacific Corp. | 4,741 | ||||||
5,013 | ||||||||
Semiconductors — 1.08% | ||||||||
31,555 | Altera Corp. | 1,026 | ||||||
496,231 | Intel Corp. | 12,882 | ||||||
19,123 | Microchip Technology, Inc. | 856 | ||||||
14,764 | ||||||||
Semiconductors & Semiconductor Equipment — 0.27% | ||||||||
66,620 | ARM Holdings PLC, ADR | 3,647 | ||||||
Soft Drinks — 2.11% | ||||||||
13,931 | Monster Beverage Corp. (a) | 944 | ||||||
150,875 | PepsiCo, Inc. | 12,514 | ||||||
369,365 | The Coca-Cola Co. | 15,258 | ||||||
28,716 | ||||||||
Software — 2.99% | ||||||||
9,013 | ANSYS, Inc. (a) | 786 | ||||||
17,614 | Citrix Systems, Inc. (a) | 1,114 | ||||||
4,499 | FactSet Research Systems, Inc. | 489 | ||||||
28,426 | Intuit, Inc. | 2,169 | ||||||
8,122 | MICROS Systems, Inc. (a) | 466 | ||||||
372,465 | Oracle Corp. | 14,250 | ||||||
91,521 | Red Hat, Inc. (a) | 5,129 | ||||||
147,537 | Salesforce.com, Inc. (a) | 8,143 | ||||||
27,780 | SAP AG, ADR | 2,421 | ||||||
63,669 | VMware, Inc., Class – A (a) | 5,712 | ||||||
40,679 | ||||||||
Specialized Finance — 0.03% | ||||||||
8,524 | CBOE Holdings, Inc. | 443 |
See accompanying notes to financial statements.
22
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Specialized Real Estate Investment Trusts — 0.26% | ||||||||
44,829 | American Tower Corp. | $ | 3,578 | |||||
Specialty Chemicals — 0.62% | ||||||||
49,339 | Ecolab, Inc. | 5,144 | ||||||
7,908 | International Flavors & Fragrances, Inc. | 680 | ||||||
11,608 | Sigma-Aldrich Corp. | 1,091 | ||||||
8,336 | The Sherwin-Williams Co. | 1,530 | ||||||
8,445 | ||||||||
Specialty Retail — 1.98% | ||||||||
7,675 | Aaron's, Inc. | 226 | ||||||
6,724 | Advance Auto Parts, Inc. | 744 | ||||||
3,559 | AutoZone, Inc. (a) | 1,701 | ||||||
22,189 | Bed Bath & Beyond, Inc. (a) | 1,782 | ||||||
9,261 | Dick's Sporting Goods, Inc. | 538 | ||||||
62,780 | Lowe's Cos., Inc. | 3,111 | ||||||
10,386 | PetSmart, Inc. | 756 | ||||||
21,317 | Ross Stores, Inc. | 1,597 | ||||||
8,356 | Signet Jewelers Ltd. | 658 | ||||||
147,390 | The Home Depot, Inc. | 12,136 | ||||||
29,066 | Tiffany & Co. | 2,697 | ||||||
6,128 | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | 591 | ||||||
10,139 | Urban Outfitters, Inc. (a) | 376 | ||||||
26,913 | ||||||||
Specialty Stores — 0.08% | ||||||||
67,919 | Staples, Inc. | 1,079 | ||||||
Systems Software — 0.12% | ||||||||
18,406 | FireEye, Inc. (a) | 803 | ||||||
11,112 | Tableau Software, Inc., Class – A (a) | 766 | ||||||
1,569 | ||||||||
Textiles, Apparel & Luxury Goods — 1.13% | ||||||||
169,854 | NIKE, Inc., Class – B | 13,358 | ||||||
33,419 | V.F. Corp. | 2,083 | ||||||
15,441 | ||||||||
Tobacco — 1.15% | ||||||||
37,530 | Lorillard, Inc. | 1,902 | ||||||
157,364 | Philip Morris International, Inc. | 13,711 | ||||||
15,613 | ||||||||
Trading Companies & Distributors — 0.39% | ||||||||
76,753 | Fastenal Co. | 3,646 | ||||||
4,193 | MSC Industrial Direct Co., Inc., Class – A | 339 | ||||||
5,347 | W.W. Grainger, Inc. | 1,366 | ||||||
5,351 | ||||||||
Total Common Stocks | 1,080,628 |
Principal Amount (000) | Security Description | Value (000) | ||||||
Corporate Bonds — 0.44% | ||||||||
Consumer Finance — 0.05% | ||||||||
$700 | SLM Corp., Series A, MTN, 0.54%, 1/27/14 | $ | 699 | |||||
Diversified Financial Services — 0.12% | ||||||||
50 | Bank of America Corp., MTN, 7.38%, 5/15/14 | 51 | ||||||
200 | Ford Motor Credit Co. LLC, 3.88%, 1/15/15 | 206 | ||||||
200 | Goldman Sachs Group, Inc., 0.74%, 1/12/15 | 200 | ||||||
500 | Goldman Sachs Group, Inc., 3.70%, 8/1/15 | 521 | ||||||
200 | Goldman Sachs Group, Inc., 0.70%, 3/22/16 | 199 | ||||||
400 | JPMorgan Chase Bank NA, 6.00%, 10/1/17 | 458 | ||||||
1,635 | ||||||||
Diversified Telecommunication Services — 0.04% | ||||||||
100 | Verizon Communications, Inc., Series FRN, 1.77%, 9/15/16 | 103 | ||||||
100 | Verizon Communications, Inc., 2.50%, 9/15/16 | 103 | ||||||
100 | Verizon Communications, Inc., 3.65%, 9/14/18 | 106 | ||||||
200 | Verizon Communications, Inc., 5.15%, 9/15/20 | 214 | ||||||
526 | ||||||||
Oil, Gas & Consumable Fuels — 0.02% | ||||||||
100 | El Paso Pipeline Partners Operating Co. LLC, 6.50%, 4/1/20 | 115 | ||||||
100 | Southwestern Energy Co., 4.10%, 3/15/22, Callable 12/15/21 @ 100.00 | 99 | ||||||
214 | ||||||||
Thrifts & Mortgage Finance — 0.21% | ||||||||
1,500 | Ford Motor Credit Co. LLC, 2.38%, 1/16/18 | 1,516 | ||||||
1,400 | SSIF Nevada LP, 0.94%, 4/14/14 (b) | 1,402 | ||||||
2,918 | ||||||||
Total Corporate Bonds | 5,992 | |||||||
Asset Backed Securities — 0.10% | ||||||||
418 | Asset Backed Funding Certificates, Series 2004-0PT5, Class A1, 0.86%, 6/25/34 | 395 | ||||||
61 | Asset Backed Securities Corp. Home Equity Loan Trust, Series 2007-HE2, Class A2, 0.24%, 5/25/37 | 38 | ||||||
19 | Bear Stearns Asset Backed Securities Trust, Series 2007-HE5, Class 1A1, 0.25%, 6/25/47 | 19 | ||||||
65 | BlueMountain CLO Ltd., Series 2005-1A, Class A1F, 0.48%, 11/15/17 (b) | 65 | ||||||
90 | Kingsland Ltd., Series 2005-1A, Class A1A, 0.49%, 6/13/19 (b) | 90 | ||||||
224 | Morgan Stanley Capital, Inc., Series 2007-HE6, Class A1, 0.22%, 5/25/37 | 130 |
See accompanying notes to financial statements.
23
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Security Description | Value (000) | ||||||
Asset Backed Securities (continued) | ||||||||
$109 | SLM Student Loan Trust, Series 2005-4, Class A2, 0.32%, 4/26/21 | $ | 109 | |||||
31 | Small Business Administration Participation Certificates, Series 2008-20E, Class 1, 5.49%, 5/1/28 | 34 | ||||||
429 | Small Business Administration Participation Certificates, Series 2006-20L, Class 1, 5.12%, 12/1/26 | 456 | ||||||
Total Asset Backed Securities | 1,336 | |||||||
Collateralized Mortgage Obligations — 1.56% | ||||||||
14 | American Home Mortgage Investment Trust, Series 2005-2, Class 4A1, 1.85%, 9/25/45 | 12 | ||||||
376 | American Home Mortgage Investment Trust, Series 2004-3, Class 5A, 2.17%, 10/25/34 | 370 | ||||||
120 | Banc of America Commercial Mortgage, Inc., Series 2006-5, Class A4, 5.41%, 9/10/16 | 130 | ||||||
15 | Banc of America Mortgage Securities, Inc., Series 2006-A, Class 2A1, 2.93%, 2/25/36 (c)(d) | 13 | ||||||
27 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2002-11, Class 1A1, 2.36%, 2/25/33 | 27 | ||||||
392 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2005-2, Class A2, 2.79%, 3/25/35 | 390 | ||||||
529 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2004-6, Class 2A1, 2.83%, 9/25/34 | 494 | ||||||
33 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2002-11, Class 1A2, 2.84%, 2/25/33 | 30 | ||||||
560 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2003-5, Class 2A1, 2.58%, 8/25/33 | 565 | ||||||
0 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2005-2, Class A1, 2.60%, 3/25/35 | �� | 0 | |||||
28 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2004-9, Class 22A1, 3.08%, 11/25/34 | 28 | ||||||
773 | Citigroup Mortgage Loan Trust, Inc., Series 2005-3, Class 2A2A, 2.61%, 8/25/35 | 762 | ||||||
267 | Citigroup Mortgage Loan Trust, Inc., Series 2005-11A, Class A1A, 2.54%, 5/25/35 | 258 | ||||||
72 | Citigroup Mortgage Loan Trust, Inc., Series 2005-6, Class A2, 2.29%, 9/25/35 | 70 | ||||||
126 | Citigroup Mortgage Loan Trust, Inc., Series 2005-6, Class A3, 1.94%, 9/25/35 | 125 | ||||||
102 | Countrywide Alternative Loan Trust, Series 2003-J2, Class A1, 6.00%, 10/25/33 | 107 | ||||||
22 | Countrywide Alternative Loan Trust, Series 2006-OA9, Class 2A1A, 0.38%, 7/20/46 (c)(d) | 13 | ||||||
337 | Countrywide Alternative Loan Trust, Series 2006-0A6, Class 1A2, 0.37%, 7/25/46 | 278 |
Principal Amount (000) | Security Description | Value (000) | ||||||
Collateralized Mortgage Obligations (continued) | ||||||||
$838 | Countrywide Alternative Loan Trust, Series 2005-14, Class 2A1, 0.37%, 5/25/35 | $ | 701 | |||||
24 | Countrywide Alternative Loan Trust, Series 2006-HY13, Class 4A1, 2.82%, 2/25/37 (c)(d) | 20 | ||||||
30 | Countrywide Alternative Loan Trust, Series 2006-OA11B, Class A1B, 0.35%, 9/25/46 | 22 | ||||||
30 | Countrywide Alternative Loan Trust, Series 2005-81, Class A1, 0.44%, 2/25/37 | 23 | ||||||
723 | Countrywide Home Loans, Series 2005-9, Class 1A3, 0.39%, 5/25/35 | 627 | ||||||
66 | Countrywide Home Loans, Series 2005-3, Class 2A1, 0.45%, 4/25/35 | 54 | ||||||
477 | Countrywide Home Loans, Series 2005-HYB9, Class 3A2A, 2.42%, 2/20/36 | 419 | ||||||
222 | Fannie Mae, Series 2006-82, Class F, 0.73%, 9/25/36 | 222 | ||||||
125 | Fannie Mae Whole Loan, Series 2004-W12, Class 1A1, 6.00%, 7/25/44 | 139 | ||||||
145 | First Horizon Mortgage Pass-Through Trust, Series 2004-AR1, Class 2A1, 2.56%, 2/25/34 | 141 | ||||||
730 | Freddie Mac, Series 3616, Class FG, 0.82%, 3/15/32 | 737 | ||||||
7 | Freddie Mac, Series 3346, Class FA, 0.40%, 2/15/19 | 7 | ||||||
8 | Freddie Mac, Series 2395, Class FT, 0.62%, 12/15/31 | 8 | ||||||
256 | Freddie Mac, Series 3174, Class FM, 0.41%, 5/15/36 | 255 | ||||||
2,604 | Government National Mortgage Association, Series 2005-16, Class FA, 0.42%, 2/20/35 | 2,598 | ||||||
55 | Government National Mortgage Association, Series 2000-14, Class F, 0.82%, 2/16/30 | 56 | ||||||
2,613 | Government National Mortgage Association, Series 2005-3, Class F, 0.42%, 1/16/35 | 2,600 | ||||||
606 | Government National Mortgage Association, Series 2008-6, Class FA, 0.66%, 2/20/38 | 609 | ||||||
1,421 | Greenpoint Mortgage Funding Trust, Series 2005-AR1, Class A2, 0.38%, 6/25/45 | 1,276 | ||||||
282 | GSR Mortgage Loan Trust, Series 2005-AR6, Class 2A1, 2.65%, 9/25/35 | 280 | ||||||
771 | HarborView Mortgage Loan Trust, Series 2005-2, Class 2A1A, 0.39%, 5/19/35 | 673 | ||||||
120 | Morgan Stanley Capital I, Series 2007-IQ16, Class A4, 5.81%, 12/12/49 | 134 | ||||||
638 | Nomura Asset Acceptance Corp., Series 2005-AR5, Class 2A1, 2.51%, 10/25/35 | 560 | ||||||
2,027 | Residential Accredit Loans, Inc., Series 2005-Q01, Class A1, 0.46%, 8/25/35 | 1,604 |
See accompanying notes to financial statements.
24
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Security Description | Value (000) | ||||||
Collateralized Mortgage Obligations (continued) | ||||||||
$1,233 | Structured Asset Securities Corp., Series 2003-40A, Class 3A2, 2.39%, 1/25/34 | $ | 1,195 | |||||
462 | WaMu Mortgage Pass-Through Certificates, Series 2005-AR2, Class 2A1A, 0.47%, 1/25/45 | 434 | ||||||
135 | Wells Fargo Mortgage Backed Securities Trust, Series 2005-AR2, Class 2A2, 2.67%, 3/25/35 | 137 | ||||||
1,183 | Wells Fargo Mortgage Backed Securities Trust, Series 2006-AR2, Class 2A1, 2.63%, 3/25/36 | 1,181 | ||||||
426 | Wells Fargo Mortgage Backed Securities Trust, Series 2005-AR16, Class 4A2, 2.62%, 10/25/35 | 416 | ||||||
147 | Wells Fargo Mortgage Backed Securities Trust, Series 2003-M, Class A1, 2.62%, 12/25/33 | 149 | ||||||
245 | Wells Fargo Mortgage Backed Securities Trust, Series 2004-CC, Class A1, 2.62%, 1/25/35 | 242 | ||||||
Total Collateralized Mortgage Obligations | 21,191 | |||||||
Certificate of Deposit — 0.27% | ||||||||
3,700 | Banco do Brasil New York, 0.59%, 3/27/14 | 3,695 | ||||||
Total Certificate of Deposit | 3,695 | |||||||
Global Bonds — 0.65% | ||||||||
Brazil — 0.23% | ||||||||
10,700 | Letra do Tesouro Nacional, 21.52%, 1/1/17 (e)(f) | 3,194 | ||||||
Mexico — 0.26% | ||||||||
22,300 | Mexican Bonos Desarr Fixed Rate, Series M 20, 10.00%, 12/5/24 (f) | 2,182 | ||||||
4,391 | Mexican Cetes, Series BI, 1/16/14 (f) | 33 | ||||||
87,210 | Mexican Cetes, Series BI, 6/12/14 (f) | 658 | ||||||
7,100 | Mexican Cetes, Series BI, 3/27/14 (f) | 54 | ||||||
9,900 | Mexican Cetes, Series BI, 6/26/14 (f) | 75 | ||||||
1,400 | Mexican Cetes, 4/3/14 (f) | 11 | ||||||
16,890 | Mexican Cetes, Series BI, 2/13/14 (f) | 129 | ||||||
44,110 | Mexican Cetes, Series BI, 3/20/14 (f) | 336 | ||||||
3,478 | ||||||||
Slovenia — 0.04% | ||||||||
400 | Republic of Slovenia, 4.70%, 11/1/16 (b)(f)(g) | 566 | ||||||
United States — 0.12% | ||||||||
100 | Goldman Sachs Group, Inc., 0.57%, 5/18/15 | 137 | ||||||
1,000 | JPMorgan Chase Bank NA, 0.99%, 5/31/17, Callable 10/28/13 @ – | 1,360 | ||||||
100 | JPMorgan Chase Bank NA, 4.37%, 11/30/21, Callable 11/14/16 @ 100 (f) | 143 | ||||||
1,640 | ||||||||
Total Global Bonds | 8,878 |
Principal Amount (000) | Security Description | Value (000) | ||||||
Municipal Bonds — 0.07% | ||||||||
California — 0.05% | ||||||||
$700 | Irvine Ranch California Water District Joint Powers Agency Revenue, 2.61%, 3/15/14 | $ | 703 | |||||
Washington — 0.02% | ||||||||
200 | Port of Seattle Washington Revenue, Series B1, 7.00%, 5/1/36 | 223 | ||||||
Total Municipal Bonds | 926 | |||||||
U.S. Government Agency Securities — 1.53% | ||||||||
4,200 | Federal Home Loan Bank, 0.07%, 1/17/14 (e) | 4,200 | ||||||
900 | Federal Home Loan Bank, 0.07%, 1/24/14 (e) | 900 | ||||||
2,500 | Federal Home Loan Bank, 0.07%, 1/3/14 (e)(h) | 2,500 | ||||||
9,500 | Federal Home Loan Bank, 0.07%, 1/15/14 (e) | 9,500 | ||||||
3,700 | Freddie Mac, 0.03%, 2/5/14 (e) | 3,700 | ||||||
Total U.S. Government Agency Securities | 20,800 | |||||||
U.S. Government Agency Mortgages — 0.57% | ||||||||
109 | Fannie Mae, Pool #AA0838, 4.50%, 1/1/39 | 115 | ||||||
6 | Fannie Mae, Pool #889414, 6.00%, 11/1/37 | 6 | ||||||
33 | Fannie Mae, Pool #AB0035, 4.50%, 4/1/39 | 35 | ||||||
7 | Fannie Mae, Pool #AA5367, 4.50%, 4/1/39 | 7 | ||||||
69 | Fannie Mae, Pool #AA4433, 4.50%, 3/1/39 | 73 | ||||||
1,659 | Fannie Mae, Pool #AA3495, 4.50%, 2/1/39 | 1,758 | ||||||
8 | Fannie Mae, Pool #AH3151, 4.50%, 3/1/41 | 9 | ||||||
262 | Fannie Mae, Pool #836019, 2.21%, 10/1/35 | 278 | ||||||
51 | Fannie Mae, Pool #AK5605, 4.50%, 4/1/42 | 54 | ||||||
8 | Fannie Mae, Pool #829144, 4.50%, 10/1/35 | 8 | ||||||
10 | Fannie Mae, Pool #796295, 4.50%, 12/1/34 | 10 | ||||||
1,000 | Fannie Mae, 30 YR TBA, 4.50%, 2/25/43 | 1,053 | ||||||
4,000 | Fannie Mae, 30 YR TBA, 5.00%, 1/25/43 | 4,344 | ||||||
Total U.S. Government Agency Mortgages | 7,750 | |||||||
U.S. Treasury Obligations — 5.30% | ||||||||
500 | U.S. Treasury Bill, 0.02%, 1/2/14 (e) | 500 | ||||||
900 | U.S. Treasury Bill, 0.04%, 1/9/14 (e) | 900 | ||||||
8,500 | U.S. Treasury Bill, 0.01%, 1/16/14 (e) | 8,500 | ||||||
9,900 | U.S. Treasury Bill, 0.03%, 1/23/14 (e) | 9,900 | ||||||
13,100 | U.S. Treasury Bill, 0.03%, 1/30/14 (e) | 13,100 | ||||||
2,500 | U.S. Treasury Bill, 0.05%, 2/6/14 (e) | 2,500 | ||||||
248 | U.S. Treasury Inflation Index Bond, 2.38%, 1/15/25 | 285 | ||||||
659 | U.S. Treasury Inflation Index Bond, 2.00%, 1/15/26 (i) | 729 | ||||||
116 | U.S. Treasury Inflation Index Bond, 2.38%, 1/15/27 | 133 | ||||||
1,115 | U.S. Treasury Inflation Index Bond, 1.75%, 1/15/28 (i) | 1,194 | ||||||
381 | U.S. Treasury Inflation Index Bond, 2.50%, 1/15/29 (i) | 447 | ||||||
142 | U.S. Treasury Inflation Index Bond, 3.88%, 4/15/29 (i) | 195 |
See accompanying notes to financial statements.
25
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
U.S. Treasury Obligations — 5.30% | ||||||||
$2,854 | U.S. Treasury Inflation Index Bond, 0.63%, 2/15/43 (i) | $ | 2,195 | |||||
31,558 | U.S. Treasury Note, 0.25%, 1/31/14 | 31,562 | ||||||
100 | U.S. Treasury Note, 1.38%, 9/30/18 | 99 | ||||||
Total U.S. Treasury Obligations | 72,239 | |||||||
Yankee Dollars — 0.47% | ||||||||
Aerospace & Defense — 0.01% | ||||||||
84 | Waha Aerospace BV, 3.93%, 7/28/20 | 88 | ||||||
Airlines — 0.01% | ||||||||
188 | Doric Nimrod Air Finance Alpha Ltd., Series 2012-1, Class A, 5.13%, 11/30/24 (b) | 191 | ||||||
Commercial Banks — 0.35% | ||||||||
500 | Banco Bradesco SA, 2.34%, 5/16/14 (b) | 500 | ||||||
1,000 | Banco Votorantim SA, 5.25%, 2/11/16 (b) | 1,033 | ||||||
1,100 | DNB Bank ASA, 3.20%, 4/3/17 (b) | 1,150 | ||||||
200 | Export-Import Bank of Korea, 5.88%, 1/14/15 | 210 | ||||||
200 | Export-Import Bank of Korea, 4.13%, 9/9/15 | 210 | ||||||
200 | Export-Import Bank of Korea, 5.13%, 6/29/20 | 220 | ||||||
200 | Export-Import Bank of Korea, 5.00%, 4/11/22 | 217 | ||||||
1,300 | Nordea Bank AB, 1.14%, 1/14/14 (b) | 1,300 | ||||||
4,840 | ||||||||
Oil & Gas Exploration & Production — 0.03% | ||||||||
300 | TNK-BP Finance SA, Series 6, 7.88%, 3/13/18 | 347 | ||||||
Sovereign — 0.07% | ||||||||
500 | Republic of Korea, 5.75%, 4/16/14 | 507 | ||||||
300 | Republic of Korea, 7.13%, 4/16/19 | 366 | ||||||
873 | ||||||||
Total Yankee Dollars | 6,339 | |||||||
Time Deposit — 0.89% | ||||||||
12,076 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/14 | 12,076 | ||||||
Total Time Deposit | 12,076 | |||||||
Mutual Funds — 8.46% | ||||||||
108,985,643 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (j) | 108,986 | ||||||
399,812 | SSgA Treasury Money Market Fund, 0.00% (j) | 400 | ||||||
5,709,144 | SSgA U.S. Government Money Market Fund, 0.00% (j) | 5,709 | ||||||
Total Mutual Funds | 115,095 |
Contracts or Principal Amount (000) | Security Description | Value (000) | ||||||
Call Option Purchased — 0.00% | ||||||||
28 | Eurodollar Future, Expiring 12/15/14 at $100 | $ | 1 | |||||
Total Call Option Purchased (cost $2) | 1 | |||||||
Put Option Purchased — 0.00% | ||||||||
172 | S&P 500 Index Future, Expiring 3/21/14 at $800 | 2 | ||||||
Total Put Option Purchased (cost $5) | 2 | |||||||
Repurchase Agreement — 0.31% | ||||||||
$ 4,200 | Citigroup Global Markets, 0.01%, 1/2/14 | 4,200 | ||||||
Total Repurchase Agreement | 4,200 | |||||||
Total Investments (cost $1,024,424) — 100.01% | 1,361,148 | |||||||
Liabilities in excess of other assets — (0.01)% | (196 | ) | ||||||
Net Assets — 100.00% | $ | 1,360,952 |
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Represents non-income producing security. |
(b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(c) | Escrow security due to bankruptcy. |
(d) | Issuer has defaulted on the payment of interest. These securities have been deemed illiquid by the Specialist Manager and represents 0.00% of the Portfolio's net assets. |
(e) | Rate disclosed represents effective yield at purchase. |
(f) | The principal amount is disclosed in local currency and the value is disclosed in U.S. Dollars. |
(g) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security has been deemed illiquid by the Specialist Manager and represents 0.04% of the Portfolio. |
(h) | Zero Coupon Security. Effective rate shown is as of December 31, 2013. |
(i) | All or part of this security has been pledged as collateral for derivative instruments held by the Portfolio. |
(j) | The rate disclosed is the rate in effect on December 31, 2013. |
ADR — American Depositary Receipt
MTN — Medium Term Note
TBA — Security is subject to delayed delivery
See accompanying notes to financial statements.
26
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
The following table reflects the percentage of the total net assets of the Portfolio attributable to each Specialist Manager, see Note 3 in the Notes to Financial Statements.
The Institutional Growth Equity Portfolio | Jennison Associates LLC | Mellon Capital Management Corporation | PIMCO | Sustainable Growth Advisers | Total | |||||||||||||||
Common Stocks | 28.62 | % | 45.32 | % | — | 5.45 | % | 79.39 | % | |||||||||||
Corporate Bonds | — | — | 0.44 | % | — | 0.44 | % | |||||||||||||
Asset Backed Securities | — | — | 0.10 | % | — | 0.10 | % | |||||||||||||
Collateralized Mortgage Obligations | — | — | 1.56 | % | — | 1.56 | % | |||||||||||||
Certificate of Deposit | — | — | 0.27 | % | — | 0.27 | % | |||||||||||||
Global Bonds | — | — | 0.65 | % | — | 0.65 | % | |||||||||||||
Municipal Bonds | — | — | 0.07 | % | — | 0.07 | % | |||||||||||||
U.S. Government Agency Securities | — | — | 1.53 | % | — | 1.53 | % | |||||||||||||
U.S. Government Agency Mortgages | — | — | 0.57 | % | — | 0.57 | % | |||||||||||||
U.S. Treasury Obligations | — | — | 5.30 | % | — | 5.30 | % | |||||||||||||
Yankee Dollars | — | — | 0.47 | % | — | 0.47 | % | |||||||||||||
Time Deposit | 0.66 | % | — | 0.00 | % | 0.23 | % | 0.89 | % | |||||||||||
Mutual Funds | — | 8.04 | % | 0.42 | % | — | 8.46 | % | ||||||||||||
Call Option Purchased | — | — | 0.00 | % | — | 0.00 | % | |||||||||||||
Put Option Purchased | — | — | 0.00 | % | — | 0.00 | % | |||||||||||||
Repurchase Agreement | — | — | 0.31 | % | — | 0.31 | % | |||||||||||||
Other Assets (Liabilities) | -0.36 | % | 0.00 | % | 0.35 | % | 0.00 | % | -0.01 | % | ||||||||||
Total Net Assets | 28.92 | % | 53.36 | % | 12.04 | % | 5.68 | % | 100.00 | % |
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2013.
Long/(Short) Futures
Number of Contracts | Futures Contracts Positionsˆ | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
(27) | 10-Year U.S. Dollar Deliverable Interest Rate Swap Future | $ | (2,720 | ) | 3/18/14 | $ | 33 | |||||||||
126 | 10-Year U.S. Treasury Note Future | 15,504 | 3/21/14 | (284 | ) | |||||||||||
256 | 90-day Eurodollar Future | 62,883 | 6/14/16 | (152 | ) | |||||||||||
59 | 90-day Eurodollar Future | 14,447 | 9/20/16 | (68 | ) | |||||||||||
212 | S&P 500 E-mini Future | 19,516 | 3/24/14 | 643 | ||||||||||||
310 | S&P 500 Index Future | 142,685 | 3/21/14 | 4,874 | ||||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | 5,046 |
ˆ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
27
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Currency Contracts
Contract Amount (Local Currency) | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/13 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Purchased | ||||||||||||||||||||||||
5,653,703 | Brazilian Real | Morgan Stanley | 1/3/14 | $ | 2,420 | $ | 2,395 | $ | (25 | ) | ||||||||||||||
1,015,499 | Brazilian Real | Morgan Stanley | 1/3/14 | 436 | 430 | (6 | ) | |||||||||||||||||
520,923 | Brazilian Real | Deutsche Bank | 1/3/14 | 222 | 221 | (1 | ) | |||||||||||||||||
10,400,000 | Chinese Renminbi | Royal Bank of Scotland | 9/8/15 | 1,600 | 1,704 | 104 | ||||||||||||||||||
11,520,000 | Chinese Renminbi | Royal Bank of Scotland | 9/8/15 | 1,800 | 1,887 | 87 | ||||||||||||||||||
3,857,750 | Chinese Renminbi | JPMorgan Chase | 4/7/16 | 650 | 632 | (18 | ) | |||||||||||||||||
12,485,660 | Chinese Renminbi | Deutsche Bank | 4/7/16 | 1,957 | 2,045 | 88 | ||||||||||||||||||
40,892,776 | Japanese Yen | HSBC | 2/18/14 | 412 | 389 | (23 | ) | |||||||||||||||||
2,429,000 | Mexican Peso | Deutsche Bank | 3/6/14 | 186 | 185 | (1 | ) | |||||||||||||||||
Total Currencies Purchased | $ | 9,683 | $ | 9,888 | $ | 205 | ||||||||||||||||||
Currencies Sold | ||||||||||||||||||||||||
83,000 | Australian Dollar | Bank of America | 1/6/14 | $ | 75 | $ | 74 | $ | 1 | |||||||||||||||
3,012,050 | Brazilian Real | Goldman Sachs | 1/3/14 | 1,315 | 1,276 | 39 | ||||||||||||||||||
3,681,002 | Brazilian Real | Morgan Stanley | 1/3/14 | 1,561 | 1,559 | 2 | ||||||||||||||||||
497,074 | Brazilian Real | Bank of America | 1/3/14 | 210 | 210 | — | ||||||||||||||||||
5,653,703 | Brazilian Real | Morgan Stanley | 2/4/14 | 2,401 | 2,375 | 26 | ||||||||||||||||||
1,015,499 | Brazilian Real | Morgan Stanley | 2/4/14 | 433 | 427 | 6 | ||||||||||||||||||
77,000 | British Pound Sterling | Barclays Bank | 3/12/14 | 126 | 127 | (1 | ) | |||||||||||||||||
852,000 | Canadian Dollar | Citibank | 3/20/14 | 803 | 801 | 2 | ||||||||||||||||||
21,920,000 | Chinese Renminbi | Citibank | 9/8/15 | 3,424 | 3,591 | (167 | ) | |||||||||||||||||
16,343,410 | Chinese Renminbi | JPMorgan Chase | 4/7/16 | 2,542 | 2,677 | (135 | ) | |||||||||||||||||
1,654,479 | Euro | Citibank | 3/13/14 | 2,281 | 2,276 | 5 | ||||||||||||||||||
171,736,297 | Japanese Yen | Deutsche Bank | 1/7/14 | 1,635 | 1,631 | 4 | ||||||||||||||||||
40,900,000 | Japanese Yen | JPMorgan Chase | 2/18/14 | 397 | 388 | 9 | ||||||||||||||||||
2,631,956 | Mexican Peso | BNP Paribas | 3/6/14 | 201 | 201 | — | ||||||||||||||||||
275,112 | Mexican Peso | BNP Paribas | 1/16/14 | 21 | 21 | — | ||||||||||||||||||
6,221,278 | Mexican Peso | Goldman Sachs | 6/12/14 | 474 | 471 | 3 | ||||||||||||||||||
31,643,471 | Mexican Peso | Morgan Stanley | 3/6/14 | 2,396 | 2,414 | (18 | ) | |||||||||||||||||
1,677,072 | Mexican Peso | BNP Paribas | 3/27/14 | 128 | 127 | 1 | ||||||||||||||||||
6,056,749 | Mexican Peso | Citibank | 3/20/14 | 464 | 461 | 3 | ||||||||||||||||||
1,509,846 | Mexican Peso | JPMorgan Chase | 6/26/14 | 115 | 114 | 1 | ||||||||||||||||||
1,145,689 | Mexican Peso | BNP Paribas | 5/15/14 | 87 | 86 | 1 | ||||||||||||||||||
Total Currencies Sold | $ | 21,089 | $ | 21,307 | $ | (218 | ) | |||||||||||||||||
Net Unrealized/Appreciation(Depreciation) | $ | (13 | ) |
Amounts designated as “—” are $0 or have been rounded to $0.
Written Options
Number of Contracts | Security Description | Exercise Price | Premium (000) | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
(500) | Put Option on Interest Rate Swap, with Morgan Stanley Capital Services, Inc., based on the U.S. Dollar 5-Year Interest | $ | 2 | $ | (16 | ) | $ | (23 | ) | 1/27/14 | $ | (7 | ) | |||||||||||
(500) | Call Option on Interest Rate Swap, with Morgan Stanley Capital Services, Inc., based on the U.S. Dollar 5-Year Interest | 2 | (6 | ) | — | 1/27/14 | 6 | |||||||||||||||||
(150) | Put Option on Interest Rate Swap, with Citibank, NA, based on the U.S. Dollar 5-Year Interest | 3 | (16 | ) | (20 | ) | 3/3/14 | (4 | ) | |||||||||||||||
(150) | Call Option on Interest Rate Swap, with Citibank, NA, based on the U.S. Dollar 10-Year Interest | 3 | (7 | ) | (1 | ) | 3/3/14 | 6 | ||||||||||||||||
(28) | Put Option – Eurodollar Future with Deutsche Bank | 99 | (3 | ) | (3 | ) | 12/15/14 | — | ||||||||||||||||
Total | $ | (48 | ) | $ | (47 | ) | $ | 1 |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
28
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
Interest Rate Swap Agreementsˆ
Notional Amount (000) | Swap Premiums Paid/ (Received) (000) | Amount at Value (000) | Expiration Date | Fixed Rate | Pay/ Receive Floating Rate | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||||||
Interest Rate Swap Agreement with Deutsche Bank, based on the London Interbank Offer Rate Index | 100 (AUD) | $ | (1 | ) | $ | — | 3/15/23 | 4.00 | % | Receive | $ | 1 | ||||||||||||||||
Interest Rate Swap Agreement with Deutsche Bank, based on the Bank Bill Interest Rate Index | 500 (AUD) | (8 | ) | — | 3/15/23 | 3.75 | % | Receive | 8 | |||||||||||||||||||
Interest Rate Swap Agreement with Barclays Bank, based on the Bank Bill Interest Rate Index | $ | 7,200 | 91 | — | 6/19/43 | 2.75 | % | Pay | (91 | ) | ||||||||||||||||||
Interest Rate Swap Agreement with Credit Suisse, based on the Bank Bill Interest Rate Index | $ | 9,000 | 12 | — | 12/18/43 | 3.25 | % | Pay | (12 | ) | ||||||||||||||||||
Interest Rate Swap Agreement with Morgan Stanley, based on the Bank Bill Interest Rate Index | $ | 800 | (6 | ) | — | 9/5/23 | 2.40 | % | Receive | 6 | ||||||||||||||||||
Interest Rate Swap Agreement with Goldman Sachs International, based on the Euro InterBank Offered Rate Index | $ | 8,900 | — | — | 3/19/24 | 2.25 | % | Pay | — | |||||||||||||||||||
Interest Rate Swap Agreement with Deutsche Bank, based on the Bank Bill Interest Rate Index | 4,300 (AUD) | (14 | ) | — | 6/15/22 | 4.50 | % | Receive | 14 | |||||||||||||||||||
Interest Rate Swap Agreement with Citibank, NA, based on the Bank Bill Interest Rate Index | 5,200 (AUD) | (3 | ) | — | 6/18/19 | 4.00 | % | Receive | 3 | |||||||||||||||||||
Interest Rate Swap Agreement with HSBC Bank, based on the Brazil Cetip Interbank Index | 4,800 (BRL) | 5 | (146 | ) | 1/2/17 | 8.65 | % | Receive | (151 | ) | ||||||||||||||||||
Interest Rate Swap Agreement with Bank of America, based on the Brazil Cetip Interbank Index | 3,300 (BRL) | — | (102 | ) | 1/2/17 | 8.60 | % | Receive | (102 | ) | ||||||||||||||||||
Interest Rate Swap Agreement with JPMorgan Chase Bank, NA, based on the Bank Bill Interest Rate Index | 3,400 (AUD) | (55 | ) | 76 | 6/15/22 | 4.75 | % | Receive | 131 | |||||||||||||||||||
Interest Rate Swap Agreement with Bank of America NA, based on the Brazil Cetip Interbank Deposit Rate Index | 4,000 (BRL) | 50 | (101 | ) | 1/2/17 | 8.86 | % | Receive | (151 | ) | ||||||||||||||||||
$ | 71 | $ | (273 | ) | $ | (344 | ) |
ˆ | Cash has been pledged as collateral for swap contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
AUD — Australian Dollar
BRL — Brazilian Real
See accompanying notes to financial statements.
29
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 88.06% | ||||||||
Advertising — 0.02% | ||||||||
379 | MDC Partners, Inc. | $ | 10 | |||||
503 | National CineMedia, Inc. | 10 | ||||||
300 | ReachLocal, Inc. (a) | 4 | ||||||
24 | ||||||||
Aerospace & Defense — 1.62% | ||||||||
1,749 | AAR Corp. | 49 | ||||||
400 | Alliant Techsystems, Inc. | 49 | ||||||
40 | American Science & Engineering, Inc. | 3 | ||||||
73 | Astronics Corp., Class – B (a) | 4 | ||||||
366 | Astronics Corp. (a) | 19 | ||||||
47 | Cubic Corp. | 2 | ||||||
1,110 | Curtiss-Wright Corp. | 69 | ||||||
9,900 | Engility Holdings, Inc. (a) | 331 | ||||||
100 | Erickson Air-Crane, Inc. (a) | 2 | ||||||
3,842 | Esterline Technologies Corp. (a) | 393 | ||||||
3,320 | Exelis, Inc. | 63 | ||||||
1,400 | GenCorp, Inc. (a) | 25 | ||||||
1,923 | HEICO Corp. | 111 | ||||||
300 | Innovative Solutions & Support, Inc. (a) | 2 | ||||||
27 | LMI Aerospace, Inc. (a) | — | ||||||
3,407 | Moog, Inc., Class – A (a) | 231 | ||||||
728 | National Presto Industries, Inc. (a) | 59 | ||||||
14,463 | Orbital Sciences Corp. (a) | 337 | ||||||
1,442 | TASER International, Inc. (a) | 23 | ||||||
344 | Teledyne Technologies, Inc. (a) | 32 | ||||||
400 | The KEYW Holding Corp. (a) | 5 | ||||||
2,921 | Triumph Group, Inc. | 222 | ||||||
2,031 | ||||||||
Agricultural Products — 0.07% | ||||||||
65 | Alico, Inc. | 3 | ||||||
3,778 | Darling International, Inc. (a) | 78 | ||||||
265 | Limoneira Co. | 7 | ||||||
88 | ||||||||
Air Freight & Logistics — 0.52% | ||||||||
5,980 | Air Transport Services Group, Inc. (a) | 48 | ||||||
1,440 | Atlas Air Worldwide Holdings, Inc. (a) | 59 | ||||||
864 | Forward Air Corp. | 38 | ||||||
5,651 | Hub Group, Inc., Class – A (a) | 226 | ||||||
100 | Pacer International, Inc. (a) | 1 | ||||||
250 | Park-Ohio Holdings Corp. (a) | 13 | ||||||
15,145 | UTI Worldwide, Inc. | 266 | ||||||
192 | XPO Logistics, Inc. (a) | 5 | ||||||
656 |
Shares | Security Description | Value (000) | ||||||
Airlines — 1.56% | ||||||||
2,590 | Alaska Air Group, Inc. | $ | 190 | |||||
429 | Allegiant Travel Co. | 45 | ||||||
4,920 | American Airlines Group, Inc. (a) | 124 | ||||||
3,300 | Controladora Vuela Compania de Aviacion SAB de CV, ADR (a) | 45 | ||||||
6,050 | Hawaiian Holdings, Inc. (a) | 58 | ||||||
14,580 | JetBlue Airways Corp. (a) | 125 | ||||||
776 | Republic Airways Holdings, Inc. (a) | 8 | ||||||
3,590 | SkyWest, Inc. | 53 | ||||||
1,744 | Spirit Airlines, Inc. (a) | 79 | ||||||
32,470 | United Continental Holdings, Inc. (a) | 1,229 | ||||||
1,956 | ||||||||
Airport Services — 0.00% | ||||||||
265 | Wesco Aircraft Holdings, Inc. (a) | 6 | ||||||
Alternative Carriers — 0.20% | ||||||||
2,608 | 8x8, Inc. (a) | 26 | ||||||
1,508 | inContact, Inc. (a) | 12 | ||||||
400 | Inteliquent, Inc. | 5 | ||||||
468 | Lumos Networks Corp. | 10 | ||||||
400 | MagicJack VocalTec Ltd. (a) | 5 | ||||||
16,643 | Premiere Global Services, Inc. (a) | 192 | ||||||
250 | Straight Path Communications, Inc., Class – B (a) | 2 | ||||||
1,627 | Towerstream Corp. (a) | 5 | ||||||
257 | ||||||||
Apparel Retail — 0.87% | ||||||||
1,320 | Abercrombie & Fitch Co., Class – A | 43 | ||||||
34,461 | Aeropostale, Inc. (a) | 314 | ||||||
1,357 | Ann, Inc. (a) | 50 | ||||||
6,048 | Chico's FAS, Inc. | 114 | ||||||
356 | Destination Maternity Corp. | 11 | ||||||
2,460 | Express, Inc. (a) | 46 | ||||||
1,303 | Francesca's Holdings Corp. (a) | 24 | ||||||
502 | Genesco, Inc. (a) | 37 | ||||||
130 | Jos. A. Bank Clothiers, Inc. (a) | 7 | ||||||
500 | New York & Co., Inc. (a) | 2 | ||||||
4,253 | Stein Mart, Inc. | 57 | ||||||
4,096 | The Buckle, Inc. | 216 | ||||||
1,820 | The Cato Corp. | 58 | ||||||
234 | The Children's Place Retail Stores, Inc. (a) | 13 | ||||||
500 | The Finish Line, Inc., Class – A | 14 | ||||||
4,932 | Tilly's, Inc., Class – A (a) | 56 | ||||||
2,711 | Wet Seal, Inc. (a) | 7 | ||||||
620 | Zumiez, Inc. (a) | 16 | ||||||
1,085 |
See accompanying notes to financial statements.
30
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Apparel, Accessories & Luxury Goods — 0.74% | ||||||||
380 | G-III Apparel Group Ltd. (a) | $ | 28 | |||||
8 | Movado Group, Inc. | — | ||||||
398 | Oxford Industries, Inc. | 32 | ||||||
24,433 | The Jones Group, Inc. | 366 | ||||||
4,672 | Under Armour, Inc., Class – A (a) | 408 | ||||||
4,154 | Vera Bradley, Inc. (a) | 100 | ||||||
934 | ||||||||
Application Software — 2.49% | ||||||||
1,150 | ACI Worldwide, Inc. (a) | 75 | ||||||
1,344 | Actuate Corp. (a) | 10 | ||||||
4,986 | Advent Software, Inc. | 174 | ||||||
772 | American Software, Inc., Class – A | 8 | ||||||
8,790 | Aspen Technology, Inc. (a) | 367 | ||||||
1,312 | Blackbaud, Inc. | 49 | ||||||
1,079 | Bottomline Technologies, Inc. (a) | 39 | ||||||
830 | BroadSoft, Inc. (a) | 23 | ||||||
1,137 | Callidus Software, Inc. (a) | 16 | ||||||
4,976 | Compuware Corp. | 56 | ||||||
664 | Comverse, Inc. (a) | 26 | ||||||
199 | Digimarc Corp. | 4 | ||||||
696 | Ebix, Inc. | 10 | ||||||
778 | Ellie Mae, Inc. (a) | 21 | ||||||
3,871 | EPIQ Systems, Inc. | 63 | ||||||
1,130 | ePlus, Inc. (a) | 64 | ||||||
2,095 | Fair Isaac Corp. | 132 | ||||||
527 | Guidance Software, Inc. (a) | 5 | ||||||
1,428 | Guidewire Software, Inc. (a) | 70 | ||||||
459 | Interactive Intelligence Group (a) | 31 | ||||||
1,168 | Jive Software, Inc. (a) | 13 | ||||||
561 | Manhattan Associates, Inc. (a) | 66 | ||||||
2,593 | Mentor Graphics Corp. | 62 | ||||||
268 | MicroStrategy, Inc., Class – A (a) | 33 | ||||||
800 | Mitek Systems, Inc. (a) | 5 | ||||||
200 | Model N, Inc. (a) | 2 | ||||||
1,111 | Monotype Imaging Holdings, Inc. | 35 | ||||||
1,070 | NetScout Systems, Inc. (a) | 32 | ||||||
506 | Pegasystems, Inc. | 25 | ||||||
5,236 | PROS Holdings, Inc. (a) | 209 | ||||||
11,036 | PTC, Inc. (a) | 392 | ||||||
173 | QAD, Inc., Class – A | 3 | ||||||
2,512 | QLIK Technologies, Inc. (a) | 67 | ||||||
1,378 | RealPage, Inc. (a) | 32 | ||||||
200 | Silver Spring Networks, Inc. (a) | 4 | ||||||
2,723 | SolarWinds, Inc. (a) | 103 | ||||||
1,682 | SS&C Technologies Holdings, Inc. (a) | 74 | ||||||
863 | Synchronoss Technologies, Inc. (a) | 27 |
Shares | Security Description | Value (000) | ||||||
Application Software (continued) | ||||||||
930 | Tangoe, Inc. (a) | $ | 17 | |||||
9,527 | Telenav, Inc. (a) | 63 | ||||||
802 | The Ultimate Software Group, Inc. (a) | 123 | ||||||
3,475 | TIBCO Software, Inc. (a) | 78 | ||||||
16,888 | TiVo, Inc. (a) | 222 | ||||||
913 | Tyler Technologies, Inc. (a) | 93 | ||||||
1,519 | Verint Systems, Inc. (a) | 65 | ||||||
1,249 | VirnetX Holding Corp. (a) | 24 | ||||||
400 | Vringo, Inc. (a) | 1 | ||||||
3,113 | ||||||||
Asset Management & Custody Banks — 0.59% | ||||||||
4,310 | Calamos Asset Management, Inc., Class – A | 51 | ||||||
557 | Cohen & Steers, Inc. | 22 | ||||||
82 | Diamond Hill Investment Group, Inc. | 10 | ||||||
1,414 | Financial Engines, Inc. | 98 | ||||||
182 | GAMCO Investors, Inc., Class – A | 16 | ||||||
457 | Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 6 | ||||||
100 | ICG Group, Inc. (a) | 2 | ||||||
76 | Main Street Capital Corp. | 2 | ||||||
300 | Pzena Investment Management, Inc., Class – A | 4 | ||||||
196 | Virtus Investment Partners, Inc. (a) | 39 | ||||||
6,424 | Waddell & Reed Financial, Inc., Class – A | 419 | ||||||
212 | Westwood Holdings Group, Inc. | 13 | ||||||
2,916 | WisdomTree Investments, Inc. (a) | 52 | ||||||
734 | ||||||||
Auto Components — 0.15% | ||||||||
1,167 | Accuride Corp. (a) | 4 | ||||||
1,380 | American Axle & Manufacturing Holdings, Inc. (a) | 28 | ||||||
600 | Douglas Dynamics, Inc. | 10 | ||||||
11,526 | Stoneridge, Inc. (a) | 148 | ||||||
190 | ||||||||
Auto Parts & Equipment — 1.12% | ||||||||
2,478 | Autoliv, Inc. | 227 | ||||||
26,562 | Dana Holding Corp. | 521 | ||||||
721 | Dorman Products, Inc. (a) | 40 | ||||||
678 | Drew Industries, Inc. | 35 | ||||||
97 | Fox Factory Holding Corp. (a) | 2 | ||||||
990 | Gentherm, Inc. (a) | 27 | ||||||
11,221 | Modine Manufacturing Co. (a) | 144 | ||||||
3,099 | Standard Motor Products, Inc. | 114 | ||||||
2,953 | Tenneco, Inc. (a) | 167 | ||||||
200 | Tower International, Inc. (a) | 4 | ||||||
1,720 | TRW Automotive Holdings Corp. (a) | 128 | ||||||
1,409 |
See accompanying notes to financial statements.
31
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Automobile Manufacturers — 0.02% | ||||||||
836 | Winnebago Industries, Inc. (a) | $ | 23 | |||||
Automotive Retail — 0.59% | ||||||||
187 | America's Car-Mart, Inc. (a) | 8 | ||||||
810 | Asbury Automotive Group, Inc. (a) | 44 | ||||||
750 | Group 1 Automotive, Inc. | 53 | ||||||
654 | Lithia Motors, Inc. | 45 | ||||||
896 | Monro Muffler Brake, Inc. | 50 | ||||||
11,095 | Murphy USA, Inc. (a) | 462 | ||||||
281 | Penske Automotive Group, Inc. | 13 | ||||||
2,466 | Sonic Automotive, Inc., Class – A | 60 | ||||||
735 | ||||||||
Biotechnology — 2.47% | ||||||||
1,951 | Acadia Pharmaceuticals, Inc. (a) | 49 | ||||||
159 | Acceleron Pharma, Inc. (a) | 6 | ||||||
2,883 | Achillion Pharmaceuticals, Inc. (a) | 10 | ||||||
1,193 | Acorda Therapeutics, Inc. (a) | 35 | ||||||
180 | Agios Pharmaceuticals, Inc. (a) | 4 | ||||||
1,588 | Alnylam Pharmaceuticals, Inc. (a) | 102 | ||||||
632 | AMAG Pharmaceuticals, Inc. (a) | 15 | ||||||
1,100 | Amicus Therapeutics, Inc. (a) | 3 | ||||||
686 | Anacor Pharmaceuticals, Inc. (a) | 12 | ||||||
5,682 | Arena Pharmaceuticals, Inc. (a) | 33 | ||||||
1,600 | ArQule, Inc. (a) | 3 | ||||||
3,492 | Array BioPharma, Inc. (a) | 17 | ||||||
974 | BioMarin Pharmaceutical, Inc. (a) | 68 | ||||||
1,200 | BioTime, Inc. (a) | 4 | ||||||
117 | Bluebird Bio, Inc. (a) | 2 | ||||||
3,083 | Cell Therapeutics, Inc. (a) | 6 | ||||||
2,415 | Celldex Therapeutics, Inc. (a) | 58 | ||||||
130 | Cellular Dynamics International, Inc. (a) | 2 | ||||||
8,182 | Cepheid, Inc. (a) | 383 | ||||||
2,000 | Chelsea Therapeutics International Ltd. (a) | 9 | ||||||
796 | ChemoCentryx, Inc. (a) | 5 | ||||||
201 | Chimerix, Inc. (a) | 3 | ||||||
520 | Clovis Oncology, Inc. (a) | 31 | ||||||
700 | Coronado Biosciences, Inc. (a) | 2 | ||||||
3,268 | Cubist Pharmaceuticals, Inc. (a) | 225 | ||||||
1,900 | Curis, Inc. (a) | 5 | ||||||
616 | Cytokinetics, Inc. (a) | 4 | ||||||
1,400 | Cytori Therapeutics, Inc. (a) | 4 | ||||||
4,507 | Dendreon Corp. (a) | 13 | ||||||
300 | Durata Therapeutics, Inc. (a) | 4 | ||||||
3,400 | Dyax Corp. (a) | 26 | ||||||
7,059 | Dynavax Technologies Corp. (a) | 14 | ||||||
2,800 | Emergent BioSolutions, Inc. (a) | 64 | ||||||
132 | Enanta Pharmaceuticals, Inc. (a) | 4 |
Shares | Security Description | Value (000) | ||||||
Biotechnology (continued) | ||||||||
176 | Epizyme, Inc. (a) | $ | 4 | |||||
150 | Esperion Therapeutics, Inc. (a) | 2 | ||||||
2,083 | Exact Sciences Corp. (a) | 24 | ||||||
600 | Fibrocell Science, Inc. (a) | 2 | ||||||
170 | Foundation Medicine, Inc. (a) | 4 | ||||||
3,037 | Galena Biopharma, Inc. (a) | 15 | ||||||
5,191 | Genomic Health, Inc. (a) | 152 | ||||||
900 | GTx, Inc. (a) | 1 | ||||||
2,579 | Halozyme Therapeutics, Inc. (a) | 39 | ||||||
800 | Horizon Pharma, Inc. (a) | 6 | ||||||
232 | Hyperion Therapeutics, Inc. (a) | 5 | ||||||
2,348 | Idenix Pharmaceuticals, Inc. (a) | 14 | ||||||
1,918 | ImmunoGen, Inc. (a) | 28 | ||||||
2,110 | Immunomedics, Inc. (a) | 10 | ||||||
1,417 | Infinity Pharmaceuticals, Inc. (a) | 20 | ||||||
1,041 | Insmed, Inc. (a) | 18 | ||||||
150 | Insys Therapeutics, Inc. (a) | 6 | ||||||
200 | Intercept Pharmaceuticals, Inc. (a) | 14 | ||||||
9,465 | InterMune, Inc. (a) | 139 | ||||||
302 | Intrexon Corp. (a) | 7 | ||||||
2,757 | Ironwood Pharmaceuticals, Inc. (a) | 32 | ||||||
5,807 | Isis Pharmaceuticals, Inc. (a) | 231 | ||||||
300 | KaloBios Pharmaceuticals, Inc. (a) | 1 | ||||||
194 | Karyopharm Therapeutics, Inc. (a) | 4 | ||||||
2,417 | Keryx Biopharmaceuticals, Inc. (a) | 31 | ||||||
329 | KYTHERA Biopharmaceuticals, Inc. (a) | 12 | ||||||
6,185 | Lexicon Pharmaceuticals, Inc. (a) | 11 | ||||||
527 | Ligand Pharmaceuticals, Inc., Class – B (a) | 28 | ||||||
143 | MacroGenics, Inc. (a) | 4 | ||||||
4,401 | MannKind Corp. (a) | 23 | ||||||
200 | MEI Pharma, Inc. (a) | 2 | ||||||
2,819 | Merrimack Pharmaceuticals, Inc. (a) | 15 | ||||||
2,462 | MiMedx Group, Inc. (a) | 22 | ||||||
1,098 | Momenta Pharmaceuticals, Inc. (a) | 19 | ||||||
8,130 | Myriad Genetics, Inc. (a) | 171 | ||||||
1,500 | Nanosphere, Inc. (a) | 3 | ||||||
1,996 | Neurocrine Biosciences, Inc. (a) | 19 | ||||||
500 | NewLink Genetics Corp. (a) | 11 | ||||||
5,496 | Novavax, Inc. (a) | 28 | ||||||
1,858 | NPS Pharmaceuticals, Inc. (a) | 56 | ||||||
858 | Omeros Corp. (a) | 10 | ||||||
468 | OncoGenex Pharmaceutical, Inc. (a) | 4 | ||||||
136 | OncoMed Pharmaceuticals, Inc. (a) | 4 | ||||||
101 | Onconova Therapeutics, Inc. (a) | 1 | ||||||
220 | Ophthotech Corp. (a) | 7 | ||||||
5,439 | Opko Health, Inc. (a) | 46 | ||||||
2,617 | Orexigen Therapeutics, Inc. (a) | 15 |
See accompanying notes to financial statements.
32
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Biotechnology (continued) | ||||||||
438 | Osiris Therapeutics, Inc. (a) | $ | 7 | |||||
300 | OvaScience, Inc. (a) | 3 | ||||||
11,836 | PDL BioPharma, Inc. | 100 | ||||||
4,900 | Peregrine Pharmaceuticals, Inc. (a) | 7 | ||||||
300 | Portola Pharmaceuticals, Inc. (a) | 8 | ||||||
1,545 | Progenics Pharmaceuticals, Inc. (a) | 8 | ||||||
273 | PTC Therapeutics, Inc. (a) | 5 | ||||||
643 | Puma Biotechnology, Inc. (a) | 67 | ||||||
180 | Receptos, Inc. (a) | 5 | ||||||
300 | Regulus Therapeutics, Inc. (a) | 2 | ||||||
5,823 | Repligen Corp. (a) | 79 | ||||||
1,747 | Sangamo BioSciences, Inc. (a) | 24 | ||||||
1,125 | Sarepta Therapeutics, Inc. (a) | 23 | ||||||
14,250 | SciClone Pharmaceuticals, Inc. (a) | 72 | ||||||
1,000 | SIGA Technologies, Inc. (a) | 3 | ||||||
279 | Stemline Therapeutics, Inc. (a) | 5 | ||||||
1,000 | Sunesis Pharmaceuticals, Inc. (a) | 5 | ||||||
568 | Synageva BioPharma Corp. (a) | 37 | ||||||
2,448 | Synergy Pharmaceuticals, Inc. (a) | 14 | ||||||
1,309 | Synta Pharmaceuticals Corp. (a) | 7 | ||||||
391 | Tesaro, Inc. (a) | 11 | ||||||
361 | Tetraphase Pharmaceuticals, Inc. (a) | 5 | ||||||
500 | TG Therapeutics, Inc. (a) | 2 | ||||||
1,454 | Threshold Pharmaceuticals, Inc. (a) | 7 | ||||||
917 | Vanda Pharmaceuticals, Inc. (a) | 11 | ||||||
500 | Verastem, Inc. (a) | 6 | ||||||
2,238 | Vical, Inc. (a) | 3 | ||||||
1,777 | XOMA Corp. (a) | 12 | ||||||
2,000 | ZIOPHARM Oncology, Inc. (a) | 9 | ||||||
2,418 | Zogenix, Inc. (a) | 8 | ||||||
3,100 | ||||||||
Brewers — 0.05% | ||||||||
100 | Craft Brew Alliance, Inc. (a) | 2 | ||||||
238 | The Boston Beer Co., Inc., Class – A (a) | 57 | ||||||
59 | ||||||||
Broadcasting — 0.12% | ||||||||
225 | Crown Media Holdings, Inc., Class – A (a) | 1 | ||||||
1,900 | Cumulus Media, Inc., Class – A (a) | 15 | ||||||
1,672 | Entravision Communications Corp., Class – A | 10 | ||||||
100 | Gray Television, Inc. (a) | 1 | ||||||
300 | Hemisphere Media Group, Inc. (a) | 4 | ||||||
852 | Nexstar Broadcasting Group, Inc., Class – A | 47 | ||||||
47 | Saga Communications, Inc. | 2 | ||||||
1,975 | Sinclair Broadcast Group, Inc. | 71 | ||||||
151 |
Shares | Security Description | Value (000) | ||||||
Building Products — 2.10% | ||||||||
5,544 | A.O. Smith Corp. | $ | 299 | |||||
817 | AAON, Inc. | 26 | ||||||
301 | American Woodmark Corp. (a) | 12 | ||||||
600 | Apogee Enterprises, Inc. | 22 | ||||||
1,400 | Armstrong World Industries, Inc. (a) | 81 | ||||||
1,326 | Builders FirstSource, Inc. (a) | 9 | ||||||
28,297 | Griffon Corp. | 374 | ||||||
500 | Insteel Industries, Inc. | 11 | ||||||
5,350 | Lennox International, Inc. | 454 | ||||||
12,525 | Masonite International Corp. (a) | 753 | ||||||
493 | NCI Building Systems, Inc. (a) | 9 | ||||||
266 | Nortek, Inc. (a) | 20 | ||||||
200 | Patrick Industries, Inc. (a) | 6 | ||||||
1,008 | PGT, Inc. (a) | 10 | ||||||
400 | Ply Gem Holdings, Inc. (a) | 7 | ||||||
100 | Simpson Manufacturing Co., Inc. | 4 | ||||||
2,660 | Trex Co., Inc. (a) | 212 | ||||||
4,936 | Universal Forest Products, Inc. | 257 | ||||||
2,212 | USG Corp. (a) | 63 | ||||||
2,629 | ||||||||
Capital Markets — 0.32% | ||||||||
1,430 | Arlington Asset Investment Corp. | 38 | ||||||
4,880 | BlackRock Kelso Capital Corp. | 46 | ||||||
1,650 | FBR & Co. (a) | 44 | ||||||
10,600 | MCG Capital Corp. | 47 | ||||||
3,170 | Piper Jaffray Cos., Inc. (a) | 124 | ||||||
2,950 | RCS Capital Corp., Class – A | 54 | ||||||
3,160 | WhiteHorse Finance, Inc. | 48 | ||||||
401 | ||||||||
Casinos & Gaming — 0.19% | ||||||||
2,047 | Boyd Gaming Corp. (a) | 23 | ||||||
1,010 | Caesars Entertainment Corp. (a) | 22 | ||||||
406 | Churchill Downs, Inc. | 36 | ||||||
3,515 | Monarch Casino & Resort, Inc. (a) | 70 | ||||||
856 | Multimedia Games Holding Co., Inc. (a) | 27 | ||||||
1,569 | Pinnacle Entertainment, Inc. (a) | 41 | ||||||
1,052 | Scientific Games Corp. (a) | 18 | ||||||
237 | ||||||||
Catalog Retail — 0.05% | ||||||||
973 | HSN, Inc. | 61 | ||||||
1,063 | ValueVision Media, Inc., Class – A (a) | 7 | ||||||
68 | ||||||||
Chemicals — 0.02% | ||||||||
2,144 | Ferro Corp. (a) | 28 | ||||||
132 | Marrone Bio Innovations, Inc. (a) | 2 | ||||||
30 |
See accompanying notes to financial statements.
33
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Coal & Consumable Fuels — 0.22% | ||||||||
2,476 | Cloud Peak Energy, Inc. (a) | $ | 45 | |||||
2,330 | CONSOL Energy, Inc. | 88 | ||||||
6,043 | Hallador Energy Co. | 49 | ||||||
43,903 | KiOR, Inc., Class – A (a) | 74 | ||||||
1,415 | Solazyme, Inc. (a) | 15 | ||||||
2,600 | Uranium Energy Corp. (a) | 5 | ||||||
900 | Ur-Energy, Inc. (a) | 1 | ||||||
277 | ||||||||
Commercial Banks — 1.16% | ||||||||
1,480 | 1st Source, Inc. | 47 | ||||||
2,440 | Access National Corp. | 36 | ||||||
1,470 | American National Bankshares, Inc. | 39 | ||||||
1,040 | C&F Financial Corp. | 47 | ||||||
2,310 | Enterprise BanCorp, Inc. | 49 | ||||||
2,830 | Fidelity Southern Corp. | 47 | ||||||
2,080 | Financial Institutions, Inc. | 51 | ||||||
631 | First Financial Bankshares, Inc. | 42 | ||||||
11,675 | First Midwest BanCorp, Inc. | 205 | ||||||
348 | Home Bancshares, Inc. | 13 | ||||||
2,010 | Horizon Bancorp | 51 | ||||||
2,300 | Mercantile Bank Corp. | 50 | ||||||
1,850 | Northrim BanCorp | 49 | ||||||
1,970 | S & T BanCorp, Inc. | 50 | ||||||
3,790 | Susquehanna Bancshares, Inc. | 49 | ||||||
4,155 | SVB Financial Group (a) | 435 | ||||||
1,380 | The Bank of Kentucky Financial Corp. | 51 | ||||||
3,110 | TowneBank | 48 | ||||||
2,390 | Univest Corp. of Pennsylvania | 49 | ||||||
1,020 | Wintrust Financial Corp. | 47 | ||||||
1,455 | ||||||||
Commercial Printing — 0.12% | ||||||||
1,877 | Deluxe Corp. | 98 | ||||||
2,690 | Ennis, Inc. | 48 | ||||||
1,296 | InnerWorkings, Inc. (a) | 10 | ||||||
156 | ||||||||
Commercial Services & Supplies — 0.16% | ||||||||
1,000 | Cenveo, Inc. (a) | 3 | ||||||
2,630 | Courier Corp. | 48 | ||||||
100 | G & K Services, Inc., Class – A | 6 | ||||||
926 | Geo Group, Inc. | 30 | ||||||
100 | Mobile Mini, Inc. (a) | 4 | ||||||
1,427 | Multi-Color Corp. | 53 | ||||||
1,820 | �� | Quad Graphics, Inc. | 50 | |||||
264 | SP Plus Corp. (a) | 7 | ||||||
201 |
Shares | Security Description | Value (000) | ||||||
Commodity Chemicals — 0.47% | ||||||||
500 | Arabian American Development Co. (a) | $ | 6 | |||||
1,390 | Axiall Corp. | 66 | ||||||
1,573 | Calgon Carbon Corp. (a) | 32 | ||||||
285 | Hawkins, Inc. | 11 | ||||||
589 | Koppers Holdings, Inc. | 27 | ||||||
3,623 | Methanex Corp. | 215 | ||||||
7,470 | Tronox Ltd., Class – A | 173 | ||||||
535 | Westlake Chemical Corp. | 65 | ||||||
595 | ||||||||
Communications Equipment — 0.63% | ||||||||
3,515 | ADTRAN, Inc. | 94 | ||||||
305 | Alliance Fiber Optic Products, Inc. | 5 | ||||||
36 | Anaren, Inc. (a) | 1 | ||||||
2,959 | Arris Group, Inc. (a) | 72 | ||||||
3,288 | Aruba Networks, Inc. (a) | 59 | ||||||
2,650 | BEL Fuse, Inc. CL B | 56 | ||||||
2,077 | Black Box Corp. | 62 | ||||||
1,038 | CalAmp Corp. (a) | 29 | ||||||
1,029 | Calix, Inc. (a) | 10 | ||||||
2,163 | Ciena Corp. (a) | 52 | ||||||
7,400 | Emulex Corp. (a) | 53 | ||||||
3,075 | Infinera Corp. (a) | 30 | ||||||
1,172 | InterDigital, Inc. | 35 | ||||||
1,671 | Ixia (a) | 22 | ||||||
400 | KVH Industries, Inc. (a) | 5 | ||||||
386 | Loral Space & Communications, Inc. (a) | 31 | ||||||
2,588 | ParkerVision, Inc. (a) | 12 | ||||||
100 | PC-Telephone, Inc. | 1 | ||||||
1,140 | Plantronics, Inc. | 53 | ||||||
100 | Procera Networks, Inc. (a) | 2 | ||||||
1,260 | Ruckus Wireless, Inc. (a) | 18 | ||||||
122 | ShoreTel, Inc. (a) | 1 | ||||||
300 | Sonus Networks, Inc. (a) | 1 | ||||||
373 | Ubiquiti Networks, Inc. (a) | 17 | ||||||
1,144 | ViaSat, Inc. (a) | 72 | ||||||
793 | ||||||||
Computer & Electronics Retail — 0.42% | ||||||||
15,730 | Rent-A-Center, Inc. | 524 | ||||||
Computer Hardware — 0.02% | ||||||||
600 | Cray, Inc. (a) | 17 | ||||||
979 | Silicon Graphics International Corp. (a) | 13 | ||||||
30 | ||||||||
Computer Storage & Peripherals — 0.30% | ||||||||
506 | Datalink Corp. (a) | 6 | ||||||
737 | Electronics for Imaging, Inc. (a) | 29 | ||||||
1,443 | Fusion-io, Inc. (a) | 13 |
See accompanying notes to financial statements.
34
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Computer Storage & Peripherals (continued) | ||||||||
789 | Immersion Corp. (a) | $ | 8 | |||||
1,429 | Lexmark International, Inc., Class – A | 51 | ||||||
5,030 | QLogic Corp. (a) | 59 | ||||||
4,184 | Synaptics, Inc. (a) | 216 | ||||||
382 | ||||||||
Construction & Engineering — 1.51% | ||||||||
1,910 | AECOM Technology Corp. (a) | 56 | ||||||
144 | Aegion Corp. (a) | 3 | ||||||
364 | Dycom Industries, Inc. (a) | 10 | ||||||
661 | Furmanite Corp. (a) | 7 | ||||||
100 | Great Lakes Dredge & Dock Co. (a) | 1 | ||||||
1,476 | Jacobs Engineering Group, Inc. (a) | 93 | ||||||
4,020 | KBR, Inc. | 128 | ||||||
8,457 | MasTec, Inc. (a) | 277 | ||||||
13,790 | McDermott International, Inc. (a) | 126 | ||||||
2,400 | MYR Group, Inc. (a) | 60 | ||||||
1,700 | Northwest Pipe Co. (a) | 64 | ||||||
6,501 | Pike Electric Corp. (a) | 69 | ||||||
5,714 | Primoris Services Corp. | 178 | ||||||
6,547 | Quanta Services, Inc. (a) | 207 | ||||||
20,766 | Tutor Perini Corp. (a) | 546 | ||||||
1,200 | URS Corp. | 64 | ||||||
1,889 | ||||||||
Construction & Farm Machinery & Heavy Trucks — 0.88% | ||||||||
531 | Commercial Vehicle Group, Inc. (a) | 4 | ||||||
1,848 | Federal Signal Corp. (a) | 27 | ||||||
380 | Lindsay Corp. | 31 | ||||||
400 | Manitex International, Inc. (a) | 6 | ||||||
18,170 | Meritor, Inc. (a) | 190 | ||||||
3,222 | Miller Industries, Inc. | 60 | ||||||
1,420 | NACCO Industries, Inc., Class – A | 88 | ||||||
4,822 | Titan International, Inc. | 87 | ||||||
33,540 | Wabash National Corp. (a) | 415 | ||||||
2,155 | WABCO Holdings, Inc. (a) | 201 | ||||||
1,109 | ||||||||
Construction Materials — 0.74% | ||||||||
6,750 | CaesarStone Sdot Yam Ltd. | 335 | ||||||
5,100 | Eagle Materials, Inc. | 395 | ||||||
2,177 | Headwaters, Inc. (a) | 21 | ||||||
1,190 | Martin Marietta Materials, Inc. | 119 | ||||||
588 | Texas Industries, Inc. (a) | 40 | ||||||
58 | United States Lime & Minerals, Inc. (a) | 4 | ||||||
433 | US Concrete, Inc. (a) | 10 | ||||||
924 |
Shares | Security Description | Value (000) | ||||||
Consumer Electronics — 0.21% | ||||||||
3,128 | Harman International Industries, Inc. | $ | 256 | |||||
49 | Universal Electronics, Inc. (a) | 2 | ||||||
258 | ||||||||
Consumer Finance — 0.45% | ||||||||
1,320 | Cash America International, Inc. | 51 | ||||||
309 | Consumer Portfolio Services, Inc. (a) | 3 | ||||||
210 | Credit Acceptance Corp. (a) | 27 | ||||||
9,151 | EZCORP, Inc., Class – A (a) | 107 | ||||||
837 | First Cash Financial Services, Inc. (a) | 52 | ||||||
5,570 | Green Dot Corp., Class – A (a) | 140 | ||||||
1,170 | Nelnet, Inc., Class – A | 49 | ||||||
3,256 | Nicholas Financial, Inc. | 51 | ||||||
100 | Regional Management Corp. (a) | 3 | ||||||
337 | Springleaf Holdings, Inc. (a) | 9 | ||||||
832 | World Acceptance Corp. (a) | 73 | ||||||
565 | ||||||||
Containers & Packaging — 0.04% | ||||||||
5,718 | Graphic Packaging Holding Co. (a) | 55 | ||||||
Data Processing & Outsourced Services — 1.25% | ||||||||
325 | Blackhawk Network Holdings, Inc. (a) | 8 | ||||||
1,291 | Cardtronics, Inc. (a) | 56 | ||||||
1,295 | Cass Information Systems, Inc. | 87 | ||||||
2,928 | Convergys Corp. | 62 | ||||||
1,770 | CoreLogic, Inc. (a) | 63 | ||||||
2,612 | CSG Systems International, Inc. | 77 | ||||||
692 | DST Systems, Inc. | 63 | ||||||
520 | Echo Global Logistics, Inc. (a) | 11 | ||||||
883 | EVERTEC, Inc. | 22 | ||||||
966 | Exlservice Holdings, Inc. (a) | 27 | ||||||
6,430 | Global Cash Access Holdings, Inc. (a) | 64 | ||||||
1,404 | Global Payments, Inc. | 91 | ||||||
1,067 | Heartland Payment Systems, Inc. | 53 | ||||||
5,396 | Jack Henry & Associates, Inc. | 320 | ||||||
159 | MoneyGram International, Inc. (a) | 3 | ||||||
981 | Planet Payment, Inc. (a) | 3 | ||||||
3,203 | Syntel, Inc. (a) | 291 | ||||||
2,924 | TeleTech Holdings, Inc. (a) | 70 | ||||||
3,010 | VeriFone Systems, Inc. (a) | 81 | ||||||
1,124 | WEX, Inc. (a) | 111 | ||||||
1,563 | ||||||||
Department Stores — 0.05% | ||||||||
560 | Dillard's, Inc., Class – A | 54 | ||||||
406 | The Bon-Ton Stores, Inc. | 7 | ||||||
61 |
See accompanying notes to financial statements.
35
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Distributors — 0.11% | ||||||||
47 | Core-Mark Holding Co., Inc. | $ | 4 | |||||
1,347 | Pool Corp. | 78 | ||||||
3,180 | VOXX International Corp. (a) | 53 | ||||||
135 | ||||||||
Diversified Banks — 0.04% | ||||||||
1,750 | Banco Latinoamericano de Comercio Exterior SA, Class – E | 49 | ||||||
Diversified Capital Markets — 0.02% | ||||||||
834 | HFF, Inc., Class – A (a) | 22 | ||||||
Diversified Chemicals — 0.50% | ||||||||
5,226 | Cabot Corp. | 268 | ||||||
3,122 | FMC Corp. | 236 | ||||||
311 | LSB Industries, Inc. (a) | 13 | ||||||
3,686 | Olin Corp. | 106 | ||||||
623 | ||||||||
Diversified Consumer Services — 0.07% | ||||||||
279 | Houghton Mifflin Harcourt Co. (a) | 5 | ||||||
664 | ITT Educational Services, Inc. (a) | 22 | ||||||
1,920 | Weight Watchers International, Inc. | 63 | ||||||
90 | ||||||||
Diversified Metals & Mining — 0.39% | ||||||||
318 | AMCOL International Corp. | 11 | ||||||
13,849 | Globe Specialty Metals, Inc. | 248 | ||||||
7,870 | Horsehead Holding Corp. (a) | 128 | ||||||
2,451 | Materion Corp. | 76 | ||||||
633 | US Silica Holdings, Inc. | 22 | ||||||
485 | ||||||||
Diversified Real Estate Activities — 0.07% | ||||||||
2,254 | Coresite Realty Corp. | 72 | ||||||
375 | Tejon Ranch Co. (a) | 14 | ||||||
86 | ||||||||
Diversified Real Estate Investment Trusts — 0.13% | ||||||||
800 | American Realty Capital Properties, Inc. | 10 | ||||||
1,228 | PS Business Parks, Inc. | 94 | ||||||
549 | Washington Real Estate Investment Trust | 13 | ||||||
4,542 | Winthrop Realty Trust, Inc. | 50 | ||||||
167 | ||||||||
Diversified Support Services — 0.33% | ||||||||
306 | Comfort Systems USA, Inc. | 6 | ||||||
290 | EnerNOC, Inc. (a) | 5 | ||||||
1,971 | Healthcare Services Group, Inc. | 56 | ||||||
826 | Higher One Holdings, Inc. (a) | 8 | ||||||
5,540 | Intersections, Inc. | 43 | ||||||
5,190 | KAR Auction Services, Inc. | 153 | ||||||
357 | McGrath Rentcorp | 14 |
Shares | Security Description | Value (000) | ||||||
Diversified Support Services (continued) | ||||||||
700 | Performant Financial Corp. (a) | $ | 7 | |||||
2,331 | Ritchie Bros. Auctioneers, Inc. | 53 | ||||||
679 | UniFirst Corp. | 73 | ||||||
418 | ||||||||
Diversified Telecommunication Services — 0.03% | ||||||||
1,300 | Hawaiian Telcom Holdco, Inc. (a) | 38 | ||||||
Drug Retail — 0.05% | ||||||||
12,803 | Rite Aid Corp. (a) | 65 | ||||||
Education Services — 0.35% | ||||||||
522 | American Public Education, Inc. (a) | 23 | ||||||
3,610 | Bridgepoint Education, Inc. (a) | 64 | ||||||
352 | Bright Horizons Family Solutions, Inc. (a) | 13 | ||||||
328 | Capella Education Co. | 22 | ||||||
717 | Education Management Corp. (a) | 7 | ||||||
1,310 | Grand Canyon Education, Inc. (a) | 57 | ||||||
8,441 | K12, Inc. (a) | 184 | ||||||
300 | Lincoln Educational Services Corp. | 1 | ||||||
2,087 | Strayer Education, Inc. (a) | 72 | ||||||
443 | ||||||||
Electric Utilities — 0.64% | ||||||||
1,900 | Avista Corp. | 54 | ||||||
7,790 | El Paso Electric Co. | 273 | ||||||
2,260 | Great Plains Energy, Inc. | 55 | ||||||
2,140 | Hawaiian Electric Industries, Inc. | 56 | ||||||
1,082 | IDACORP, Inc. | 56 | ||||||
2,028 | ITC Holdings Corp. | 194 | ||||||
1,716 | Portland General Electric Co. | 52 | ||||||
2,352 | The Empire District Electric Co. | 53 | ||||||
68 | UNS Energy Corp. | 4 | ||||||
797 | ||||||||
Electrical Components & Equipment — 2.16% | ||||||||
2,763 | Acuity Brands, Inc. | 302 | ||||||
162 | Analogic Corp. | 14 | ||||||
4,257 | Anixter International, Inc. | 383 | ||||||
8,990 | Belden, Inc. | 634 | ||||||
11,100 | Brady Corp. | 343 | ||||||
2,048 | Chase Corp. | 72 | ||||||
237 | Coleman Cable, Inc. | 6 | ||||||
77 | Encore Wire Corp. | 4 | ||||||
4,409 | EnerSys | 309 | ||||||
417 | Enphase Energy, Inc. (a) | 3 | ||||||
1,293 | Franklin Electric Co., Inc. | 58 | ||||||
4,700 | FuelCell Energy, Inc. (a) | 7 | ||||||
1,490 | Generac Holdings, Inc. | 84 | ||||||
2,210 | General Cable Corp. | 65 | ||||||
1,685 | Hubbell, Inc., Class – B | 183 |
See accompanying notes to financial statements.
36
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Electrical Components & Equipment (continued) | ||||||||
1,346 | Polypore International, Inc. (a) | $ | 52 | |||||
613 | PowerSecure International, Inc. (a) | 11 | ||||||
880 | Preformed Line Products Co. | 64 | ||||||
1,000 | Revolution Lighting Technologies, Inc. (a) | 3 | ||||||
803 | Thermon Group Holdings, Inc. (a) | 22 | ||||||
1,989 | Woodward, Inc. | 91 | ||||||
2,710 | ||||||||
Electronic Equipment, Instruments & Components — 1.63% | ||||||||
2,570 | Benchmark Electronics, Inc. (a) | 59 | ||||||
2,513 | Cognex Corp. (a) | 96 | ||||||
609 | Coherent, Inc. (a) | 45 | ||||||
200 | Daktronics, Inc. | 3 | ||||||
1,518 | Dolby Laboratories, Inc., Class – A (a) | 59 | ||||||
8,590 | DTS, Inc. (a) | 206 | ||||||
460 | FARO Technologies, Inc. (a) | 27 | ||||||
1,680 | InvenSense, Inc. (a) | 35 | ||||||
3,920 | Itron, Inc. (a) | 162 | ||||||
3,091 | Littelfuse, Inc. | 287 | ||||||
72 | Mesa Laboratories, Inc. | 6 | ||||||
621 | Methode Electronics, Inc. | 21 | ||||||
468 | MTS Systems Corp. | 33 | ||||||
526 | OSI Systems, Inc. (a) | 28 | ||||||
815 | Regal-Beloit Corp. | 60 | ||||||
2,065 | Rofin-Sinar Technologies, Inc. (a) | 56 | ||||||
9,033 | Rogers Corp. (a) | 556 | ||||||
3,680 | Sanmina Corp. (a) | 61 | ||||||
5,257 | Universal Display Corp. (a) | 181 | ||||||
4,600 | Vishay Intertechnology, Inc. (a) | 61 | ||||||
2,042 | ||||||||
Electronic Manufacturing Services — 0.86% | ||||||||
25,791 | Flextronics International Ltd. (a) | 200 | ||||||
2,300 | IPG Photonics Corp. (a) | 179 | ||||||
13,587 | Jabil Circuit, Inc. | 236 | ||||||
940 | Maxwell Technologies, Inc. (a) | 7 | ||||||
2,860 | Measurement Specialties, Inc. (a) | 174 | ||||||
800 | Neonode, Inc. (a) | 5 | ||||||
1,410 | Plexus Corp. (a) | 61 | ||||||
4,604 | Trimble Navigation Ltd. (a) | 160 | ||||||
6,135 | TTM Technologies, Inc. (a) | 53 | ||||||
300 | Uni-Pixel, Inc. (a) | 3 | ||||||
1,078 | ||||||||
Energy Equipment & Services — 0.03% | ||||||||
254 | CARBO Ceramics, Inc. | 29 | ||||||
61 | Hornbeck Offshore Services, Inc. (a) | 3 | ||||||
40 | Nuverra Environmental Solutions, Inc. (a) | 1 |
Shares | Security Description | Value (000) | ||||||
Energy Equipment & Services (continued) | ||||||||
51 | SEACOR Holdings, Inc. (a) | $ | 5 | |||||
38 | ||||||||
Environmental & Facilities Services — 0.46% | ||||||||
500 | Acorn Energy, Inc. | 2 | ||||||
1,000 | Casella Waste Systems, Inc. (a) | 6 | ||||||
220 | CECO Environmental Corp. | 4 | ||||||
211 | Heritage-Crystal Clean, Inc. (a) | 4 | ||||||
609 | Team, Inc. (a) | 26 | ||||||
18,504 | Tetra Tech, Inc. (a) | 518 | ||||||
578 | US Ecology, Inc. | 21 | ||||||
581 | ||||||||
Fertilizers & Agricultural Chemicals — 0.02% | ||||||||
803 | American Vanguard Corp. | 20 | ||||||
Food & Staples Retailing — 0.04% | ||||||||
2,850 | Tesco Corp. (a) | 56 | ||||||
Food Distributors — 0.10% | ||||||||
470 | Chefs' Warehouse Holdings LLC (a) | 14 | ||||||
1,429 | United Natural Foods, Inc. (a) | 107 | ||||||
121 | ||||||||
Food Products — 0.09% | ||||||||
200 | Farmer Brothers Co. (a) | 5 | ||||||
1,892 | Fresh Del Monte Produce, Inc. | 54 | ||||||
2,240 | John B Sanfilippo & Son, Inc. | 55 | ||||||
114 | ||||||||
Food Retail — 0.59% | ||||||||
38 | Arden Group, Inc., Class – A | 5 | ||||||
5,129 | Casey's General Stores, Inc. | 359 | ||||||
200 | Fairway Group Holdings Corp. (a) | 4 | ||||||
170 | Harris Teeter Supermarkets, Inc. | 8 | ||||||
5,260 | Ingles Markets, Inc., Class – A | 143 | ||||||
253 | Natural Grocers by Vitamin Cottage, Inc. (a) | 11 | ||||||
4,462 | SUPERVALU, Inc. (a) | 33 | ||||||
534 | Susser Holdings Corp. (a) | 35 | ||||||
4,410 | Village Super Market, Inc., Class – A | 137 | ||||||
735 | ||||||||
Footwear — 0.55% | ||||||||
2,354 | Crocs, Inc. (a) | 37 | ||||||
2,391 | Deckers Outdoor Corp. (a) | 202 | ||||||
707 | Iconix Brand Group, Inc. (a) | 28 | ||||||
1,737 | Steven Madden Ltd. (a) | 64 | ||||||
1,418 | Tumi Holdings, Inc. (a) | 32 | ||||||
9,738 | Wolverine World Wide, Inc. | 331 | ||||||
694 | ||||||||
Forest Products — 0.20% | ||||||||
5,834 | Boise Cascade Co. (a) | 171 | ||||||
334 | Deltic Timber Corp. | 23 |
See accompanying notes to financial statements.
37
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Forest Products (continued) | ||||||||
2,903 | Louisiana-Pacific Corp. (a) | $ | 54 | |||||
248 | ||||||||
Gas Utilities — 0.33% | ||||||||
178 | South Jersey Industries, Inc. | 10 | ||||||
1,030 | Southwest Gas Corp. | 58 | ||||||
8,470 | UGI Corp. | 351 | ||||||
419 | ||||||||
General Merchandise Stores — 0.19% | ||||||||
9,785 | Fred's, Inc., Class – A | 181 | ||||||
7,240 | Gordmans Stores, Inc. | 56 | ||||||
237 | ||||||||
Gold — 0.14% | ||||||||
6,680 | Agnico-Eagle Mines Ltd. | 176 | ||||||
3,172 | Midway Gold Corp. (a) | 3 | ||||||
179 | ||||||||
Health Care Distributors — 0.58% | ||||||||
2,340 | MWI Veterinary Supply, Inc. (a) | 400 | ||||||
7,284 | Owens & Minor, Inc. | 266 | ||||||
2,670 | PharMerica Corp. (a) | 57 | ||||||
723 | ||||||||
Health Care Equipment & Supplies — 3.54% | ||||||||
654 | Abaxis, Inc. (a) | 26 | ||||||
1,147 | Abiomed, Inc. (a) | 31 | ||||||
2,195 | Accuray, Inc. (a) | 19 | ||||||
2,123 | Align Technology, Inc. (a) | 121 | ||||||
224 | Anika Therapeutics, Inc. (a) | 9 | ||||||
3,326 | Antares Pharma, Inc. (a) | 15 | ||||||
683 | ArthroCare Corp. (a) | 27 | ||||||
641 | AtriCure, Inc. (a) | 12 | ||||||
47 | Atrion Corp. | 14 | ||||||
1,010 | BIOLASE, Inc. (a) | 3 | ||||||
970 | Cantel Medical Corp. | 33 | ||||||
662 | Cardiovascular Systems, Inc. (a) | 23 | ||||||
2,028 | Cerus Corp. (a) | 13 | ||||||
5,300 | CryoLife, Inc. | 59 | ||||||
792 | Cyberonics, Inc. (a) | 52 | ||||||
200 | Cynosure, Inc. (a) | 5 | ||||||
19,526 | DexCom, Inc. (a) | 691 | ||||||
1,470 | Edwards Lifesciences Corp. (a) | 97 | ||||||
1,781 | Endologix, Inc. (a) | 31 | ||||||
1,031 | GenMark Diagnostics, Inc. (a) | 14 | ||||||
1,617 | Globus Medical, Inc. (a) | 33 | ||||||
1,380 | Greatbatch, Inc. (a) | 61 | ||||||
1,474 | Haemonetics Corp. (a) | 62 | ||||||
1,974 | HeartWare International, Inc. (a) | 185 |
Shares | Security Description | Value (000) | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
348 | ICU Medical, Inc. (a) | $ | 22 | |||||
16,096 | Insulet Corp. (a) | 597 | ||||||
321 | Integra LifeSciences Holdings Corp. (a) | 15 | ||||||
137 | LDR Holding Corp. | 3 | ||||||
1,414 | Masimo Corp. (a) | 41 | ||||||
200 | Medical Action Industries, Inc. (a) | 2 | ||||||
1,229 | Meridian Bioscience, Inc. | 33 | ||||||
529 | Natus Medical, Inc. (a) | 12 | ||||||
3,291 | Navidea Biopharmaceuticals, Inc. (a) | 7 | ||||||
4,188 | Neogen Corp. (a) | 191 | ||||||
281 | NuVasive, Inc. (a) | 9 | ||||||
1,786 | NxStage Medical, Inc. (a) | 18 | ||||||
173 | Oxford Immunotec Global PLC | 3 | ||||||
100 | PhotoMedex, Inc. (a) | 1 | ||||||
831 | Quidel Corp. (a) | 26 | ||||||
200 | Rockwell Medical Technologies, Inc. (a) | 2 | ||||||
3,574 | Sirona Dental Systems, Inc. (a) | 251 | ||||||
1,035 | STAAR Surgical Co. (a) | 17 | ||||||
2,859 | STERIS Corp. | 137 | ||||||
400 | SurModics, Inc. (a) | 10 | ||||||
15,450 | Symmetry Medical, Inc. (a) | 156 | ||||||
100 | Tandem Diabetes Care, Inc. (a) | 3 | ||||||
800 | TearLab Corp. (a) | 7 | ||||||
4,384 | The Cooper Cos., Inc. | 543 | ||||||
1,194 | The Spectranetics Corp. (a) | 30 | ||||||
1,657 | Thoratec Corp. (a) | 61 | ||||||
38,453 | Unilife Corp. (a) | 169 | ||||||
100 | Utah Medical Products, Inc. | 6 | ||||||
502 | Vascular Solutions, Inc. (a) | 12 | ||||||
1,555 | Volcano Corp. (a) | 34 | ||||||
7,554 | West Pharmaceutical Services, Inc. | 371 | ||||||
550 | Zeltiq Aesthetics, Inc. (a) | 10 | ||||||
4,435 | ||||||||
Health Care Providers & Services — 2.59% | ||||||||
5,650 | Acadia Healthcare Co., Inc. (a) | 267 | ||||||
1,738 | Accretive Health, Inc. (a) | 16 | ||||||
1,119 | Air Methods Corp. (a) | 65 | ||||||
46 | Alliance HealthCare Services, Inc. (a) | 1 | ||||||
1,470 | Almost Family, Inc. (a) | 48 | ||||||
1,287 | AMN Healthcare Services, Inc. (a) | 19 | ||||||
1,237 | AmSurg Corp. (a) | 57 | ||||||
686 | Bio-Reference Laboratories, Inc. (a) | 18 | ||||||
400 | BioScrip, Inc. (a) | 3 | ||||||
848 | Capital Senior Living Corp. (a) | 20 | ||||||
3,194 | Catamaran Corp. (a) | 152 | ||||||
6,094 | Chemed Corp. | 467 | ||||||
1,360 | Community Health Systems, Inc. (a) | 53 |
See accompanying notes to financial statements.
38
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Health Care Providers & Services (continued) | ||||||||
334 | CorVel Corp. (a) | $ | 16 | |||||
1,193 | Emeritus Corp. (a) | 26 | ||||||
856 | ExamWorks Group, Inc. (a) | 26 | ||||||
11,580 | Five Star Quality Care, Inc. (a) | 64 | ||||||
949 | Gentiva Health Services, Inc. (a) | 12 | ||||||
443 | Hanger, Inc. (a) | 17 | ||||||
3,641 | HealthSouth Corp. | 121 | ||||||
581 | Healthways, Inc. (a) | 9 | ||||||
2,526 | HMS Holdings Corp. (a) | 57 | ||||||
496 | IPC The Hospitalist Co., Inc. (a) | 29 | ||||||
2,760 | Kindred Healthcare, Inc. | 54 | ||||||
282 | Landauer, Inc. | 15 | ||||||
2,250 | LHC Group, Inc. (a) | 54 | ||||||
7,460 | LifePoint Hospitals, Inc. (a) | 394 | ||||||
4,450 | MEDNAX, Inc. (a) | 238 | ||||||
820 | National Healthcare Corp. | 44 | ||||||
100 | National Research Corp., Class – A (a) | 2 | ||||||
2,204 | Providence Service Corp. (a) | 57 | ||||||
5,510 | Select Medical Holdings Corp. | 64 | ||||||
12,860 | Skilled Healthcare Group, Inc. (a) | 62 | ||||||
89 | Surgical Care Affiliates, Inc. (a) | 3 | ||||||
1,989 | Team Health Holdings, Inc. (a) | 91 | ||||||
1,748 | The Ensign Group, Inc. | 77 | ||||||
353 | U.S. Physical Therapy, Inc. | 12 | ||||||
16,307 | VCA Antech, Inc. (a) | 512 | ||||||
3,242 | ||||||||
Health Care Technology — 0.67% | ||||||||
2,112 | athenahealth, Inc. (a) | 285 | ||||||
328 | Computer Programs & Systems, Inc. | 20 | ||||||
584 | HealthStream, Inc. (a) | 19 | ||||||
1,735 | MedAssets, Inc. (a) | 34 | ||||||
4,360 | Medidata Solutions, Inc. (a) | 264 | ||||||
1,627 | Merge Healthcare, Inc. (a) | 4 | ||||||
7,206 | Omnicell, Inc. (a) | 184 | ||||||
1,181 | Quality Systems, Inc. | 25 | ||||||
518 | Vocera Communications, Inc. (a) | 8 | ||||||
843 | ||||||||
Heavy Electrical Equipment — 0.04% | ||||||||
723 | AZZ, Inc. | 35 | ||||||
9,208 | Capstone Turbine Corp. (a) | 12 | ||||||
68 | Power Solutions International, Inc. (a) | 5 | ||||||
52 | ||||||||
Home Entertainment Software — 0.17% | ||||||||
6,430 | Electronic Arts, Inc. (a) | 147 | ||||||
1,500 | Glu Mobile, Inc. (a) | 6 |
Shares | Security Description | Value (000) | ||||||
Home Entertainment Software (continued) | ||||||||
1,011 | RealD, Inc. (a) | $ | 9 | |||||
360 | Rosetta Stone, Inc. (a) | 4 | ||||||
2,390 | Take-Two Interactive Software, Inc. (a) | 42 | ||||||
208 | ||||||||
Home Improvement Retail — 0.08% | ||||||||
796 | Lumber Liquidators Holdings, Inc. (a) | 81 | ||||||
141 | Sears Hometown And Outlet Stores, Inc. (a) | 4 | ||||||
546 | The Tile Shop Holdings, Inc. (a) | 10 | ||||||
95 | ||||||||
Homebuilding — 0.19% | ||||||||
400 | Beazer Homes USA, Inc. (a) | 10 | ||||||
190 | Cavco Industries, Inc. (a) | 13 | ||||||
3,158 | Meritage Homes Corp. (a) | 151 | ||||||
1,328 | The Ryland Group, Inc. | 58 | ||||||
17 | TRI Pointe Homes, Inc. (a) | — | ||||||
408 | William Lyon Homes, Class – A (a) | 9 | ||||||
241 | ||||||||
Homefurnishing Retail — 0.30% | ||||||||
631 | Ethan Allen Interiors, Inc. | 19 | ||||||
316 | Kirkland's, Inc. (a) | 7 | ||||||
404 | La-Z-Boy, Inc. | 13 | ||||||
399 | Mattress Firm Holding Corp. (a) | 17 | ||||||
2,733 | Pier 1 Imports, Inc. | 63 | ||||||
523 | Restoration Hardware Holdings, Inc. (a) | 35 | ||||||
10,638 | Select Comfort Corp. (a) | 225 | ||||||
379 | ||||||||
Hotels, Resorts & Cruise Lines — 0.03% | ||||||||
252 | Diamond Resorts International, Inc. (a) | 5 | ||||||
1,165 | Interval Leisure Group, Inc. | 36 | ||||||
300 | Morgans Hotel Group Co. (a) | 2 | ||||||
43 | ||||||||
Hotels, Restaurants & Leisure — 0.11% | ||||||||
142 | ClubCorp Holdings, Inc. | 3 | ||||||
1,830 | International Speedway Corp., Class – A | 65 | ||||||
5,200 | Marcus Corp. | 70 | ||||||
98 | Potbelly Corp. (a) | 2 | ||||||
140 | ||||||||
Household Appliances — 0.31% | ||||||||
1,910 | Helen of Troy Ltd. (a) | 95 | ||||||
823 | iRobot Corp. (a) | 29 | ||||||
2,426 | Snap-on, Inc. | 265 | ||||||
389 | ||||||||
Household Durables — 0.14% | ||||||||
3,330 | Flexsteel Industries, Inc. | 101 | ||||||
2,369 | Hovnanian Enterprises, Inc., Class – A (a) | 16 | ||||||
2,381 | KB Home | 44 |
See accompanying notes to financial statements.
39
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Household Durables (continued) | ||||||||
189 | LGI Homes, Inc. | $ | 3 | |||||
200 | M/I Homes, Inc. (a) | 5 | ||||||
234 | MDC Holdings, Inc. (a) | 8 | ||||||
99 | WCI Communities, Inc. (a) | 2 | ||||||
179 | ||||||||
Household Products — 0.07% | ||||||||
200 | Central Garden & Pet Co., Class – A (a) | 1 | ||||||
152 | Orchids Paper Products Co. | 5 | ||||||
632 | Spectrum Brands Holdings, Inc. | 45 | ||||||
451 | WD-40 Co. | 34 | ||||||
85 | ||||||||
Housewares & Specialties — 0.31% | ||||||||
296 | Blyth, Inc. | 3 | ||||||
3,370 | CSS Industries, Inc. | 97 | ||||||
311 | EveryWare Global, Inc. (a) | 3 | ||||||
6,050 | Lifetime Brands, Inc. | 95 | ||||||
2,081 | �� | Tupperware Brands Corp. | 196 | |||||
394 | ||||||||
Human Resource & Employment Services — 0.32% | ||||||||
202 | Barrett Business Services, Inc. | 19 | ||||||
428 | GP Strategies Corp. (a) | 13 | ||||||
664 | Insperity, Inc. | 24 | ||||||
1,980 | Kelly Services, Inc., Class – A | 49 | ||||||
745 | Kforce, Inc. | 15 | ||||||
1,348 | On Assignment, Inc. (a) | 47 | ||||||
1,204 | TrueBlue, Inc. (a) | 31 | ||||||
3,514 | WageWorks, Inc. (a) | 209 | ||||||
407 | ||||||||
Hypermarkets & Super Centers — 0.05% | ||||||||
545 | PriceSmart, Inc. | 63 | ||||||
Industrial Conglomerates — 0.29% | ||||||||
1,648 | Carlisle Cos., Inc. | 130 | ||||||
3,180 | Kimball International, Inc., Class – B | 48 | ||||||
603 | Libbey, Inc. (a) | 13 | ||||||
1,069 | Raven Industries, Inc. | 44 | ||||||
20 | Seaboard Corp. (a) | 56 | ||||||
1,056 | Standex International Corp. | 66 | ||||||
269 | Tredegar Industries, Inc. | 8 | ||||||
365 | ||||||||
Industrial Machinery — 2.27% | ||||||||
10,780 | Actuant Corp., Class – A | 394 | ||||||
758 | Altra Holdings, Inc. | 26 | ||||||
2,790 | Ampco-Pittsburgh Corp. | 54 | ||||||
427 | Badger Meter, Inc. | 23 | ||||||
1,457 | Blount International, Inc. (a) | 21 |
Shares | Security Description | Value (000) | ||||||
Industrial Machinery (continued) | ||||||||
2,695 | Briggs & Stratton Corp. | $ | 59 | |||||
878 | Chart Industries, Inc. (a) | 84 | ||||||
30 | CIRCOR International, Inc. | 2 | ||||||
1,438 | CLARCOR, Inc. | 93 | ||||||
1,000 | Dynamic Materials Corp. | 22 | ||||||
608 | Energy Recovery, Inc. (a) | 3 | ||||||
306 | ENPRO Industries, Inc. (a) | 18 | ||||||
223 | ESCO Technologies, Inc. | 8 | ||||||
400 | Flow International Corp. (a) | 2 | ||||||
302 | Graham Corp. | 11 | ||||||
6,470 | Harsco Corp. | 181 | ||||||
1,052 | Hyster-Yale Materials Handling, Inc. | 98 | ||||||
2,310 | IDEX Corp. | 171 | ||||||
865 | John Bean Technologies Corp. | 25 | ||||||
4,161 | Kennametal, Inc. | 217 | ||||||
3,904 | Lincoln Electric Holdings, Inc. | 279 | ||||||
809 | Mueller Industries, Inc. | 51 | ||||||
33,543 | Mueller Water Products, Inc., Class – A | 313 | ||||||
100 | Omega Flex, Inc. | 2 | ||||||
2,550 | Pall Corp. | 218 | ||||||
1,073 | Pentair Ltd. – Registered | 83 | ||||||
490 | Proto Labs, Inc. (a) | 35 | ||||||
675 | RBC Bearings, Inc. (a) | 48 | ||||||
897 | Rexnord Corp. (a) | 24 | ||||||
635 | Sun Hydraulics Corp. | 26 | ||||||
543 | Tennant Co. | 37 | ||||||
170 | The ExOne Co. (a) | 10 | ||||||
401 | The Gorman-Rupp Co. | 13 | ||||||
546 | The Middleby Corp. (a) | 131 | ||||||
1,321 | TriMas Corp. (a) | 53 | ||||||
345 | Xerium Technologies, Inc. (a) | 6 | ||||||
2,841 | ||||||||
Industrial Real Estate Investment Trusts — 0.17% | ||||||||
810 | DuPont Fabros Technology, Inc. | 20 | ||||||
3,332 | EastGroup Properties, Inc. | 193 | ||||||
213 | ||||||||
Insurance — 0.13% | ||||||||
300 | Crawford & Co. | 3 | ||||||
535 | eHealth, Inc. (a) | 25 | ||||||
1,770 | EMC Insurance Group, Inc. | 54 | ||||||
100 | Enstar Group Ltd. (a) | 14 | ||||||
165 | Infinity Property & Casualty Corp. | 12 | ||||||
4,857 | Maiden Holdings Ltd. | 53 | ||||||
62 | National Interstate Corp. | 1 | ||||||
53 | United Fire Group, Inc. | 2 | ||||||
164 |
See accompanying notes to financial statements.
40
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Integrated Oil & Gas — 0.17% | ||||||||
4,088 | Interoil Corp. (a) | $ | 210 | |||||
Integrated Telecommunication Services — 0.06% | ||||||||
271 | Atlantic Tele-Network, Inc. | 15 | ||||||
100 | Cbeyond, Inc. (a) | 1 | ||||||
1,993 | Cincinnati Bell, Inc. (a) | 7 | ||||||
1,198 | Consolidated Communications Holdings, Inc. | 25 | ||||||
566 | FairPoint Communications, Inc. (a) | 6 | ||||||
844 | General Communication, Inc., Class – A (a) | 9 | ||||||
400 | HickoryTech Corp. | 5 | ||||||
400 | IDT Corp. | 7 | ||||||
75 | ||||||||
Internet Retail — 0.15% | ||||||||
11,280 | 1-800-FLOWERS.COM, Inc., Class – A (a) | 62 | ||||||
364 | Blue Nile, Inc. (a) | 17 | ||||||
862 | NutriSystem, Inc. | 14 | ||||||
712 | Orbitz Worldwide, Inc. (a) | 5 | ||||||
341 | Overstock.com, Inc. (a) | 10 | ||||||
612 | PetMed Express, Inc. | 10 | ||||||
204 | RetailMeNot, Inc. (a) | 6 | ||||||
1,094 | Shutterfly, Inc. (a) | 56 | ||||||
700 | Vitacost.com, Inc. (a) | 4 | ||||||
184 | ||||||||
Internet Software & Services — 2.77% | ||||||||
3,660 | Akamai Technologies, Inc. (a) | 173 | ||||||
709 | Angie's List, Inc. (a) | 11 | ||||||
792 | Bazaarvoice, Inc. (a) | 6 | ||||||
67 | Benefitfocus, Inc. (a) | 4 | ||||||
766 | Blucora, Inc. (a) | 22 | ||||||
14,679 | Brightcove, Inc. (a) | 208 | ||||||
400 | Carbonite, Inc. (a) | 5 | ||||||
178 | ChannelAdvisor Corp. (a) | 7 | ||||||
384 | Chegg, Inc. | 3 | ||||||
14,360 | Cogent Communications Group, Inc. | 580 | ||||||
1,057 | comScore, Inc. (a) | 30 | ||||||
863 | Constant Contact, Inc. (a) | 27 | ||||||
3,753 | Cornerstone OnDemand, Inc. (a) | 200 | ||||||
141 | Cvent, Inc. (a) | 5 | ||||||
1,137 | DealerTrack Holdings, Inc. (a) | 55 | ||||||
495 | Demandware, Inc. (a) | 32 | ||||||
9,739 | Dice Holdings, Inc. (a) | 71 | ||||||
418 | E2open, Inc. (a) | 10 | ||||||
11,800 | EarthLink, Inc. | 60 | ||||||
400 | eGain Corp. (a) | 4 | ||||||
292 | Endurance International Group Holdings, Inc. (a) | 4 | ||||||
670 | Envestnet, Inc. (a) | 27 |
Shares | Security Description | Value (000) | ||||||
Internet Software & Services (continued) | ||||||||
692 | Global Eagle Entertainment, Inc. (a) | $ | 10 | |||||
100 | Global Sources Ltd. (a) | 1 | ||||||
185 | Gogo, Inc. (a) | 5 | ||||||
3,920 | Intralinks Holdings, Inc. (a) | 47 | ||||||
2,533 | j2 Global, Inc. | 127 | ||||||
693 | Liquidity Services, Inc. (a) | 16 | ||||||
1,589 | LivePerson, Inc. (a) | 24 | ||||||
719 | LogMeln, Inc. (a) | 24 | ||||||
300 | Marin Software, Inc. (a) | 3 | ||||||
207 | Marketo, Inc. (a) | 8 | ||||||
929 | Millennial Media, Inc. (a) | 7 | ||||||
55,000 | Monster Worldwide, Inc. (a) | 392 | ||||||
1,180 | Move, Inc. (a) | 19 | ||||||
1,911 | NIC, Inc. | 48 | ||||||
653 | OpenTable, Inc. (a) | 52 | ||||||
100 | Perficient, Inc. (a) | 2 | ||||||
23,020 | QuinStreet, Inc. (a) | 200 | ||||||
262 | Reis, Inc. (a) | 5 | ||||||
11,348 | Responsys, Inc. (a) | 311 | ||||||
118 | Rocket Fuel, Inc. (a) | 7 | ||||||
658 | SciQuest, Inc. (a) | 19 | ||||||
600 | Spark Networks, Inc. (a) | 4 | ||||||
445 | SPS Commerce, Inc. (a) | 29 | ||||||
387 | Stamps.com, Inc. (a) | 16 | ||||||
1,600 | Support.com, Inc. (a) | 6 | ||||||
120 | Textura Corp. (a) | 4 | ||||||
255 | Travelzoo, Inc. (a) | 5 | ||||||
819 | Trulia, Inc. (a) | 29 | ||||||
2,902 | Unwired Planet, Inc. (a) | 4 | ||||||
4,814 | ValueClick, Inc. (a) | 113 | ||||||
940 | VistaPrint NV (a) | 53 | ||||||
100 | Vocus, Inc. (a) | 1 | ||||||
4,961 | Web.com Group, Inc. (a) | 158 | ||||||
836 | WebMD Health Corp. (a) | 33 | ||||||
90 | Wix.com Ltd. (a) | 2 | ||||||
811 | XO Group, Inc. (a) | 12 | ||||||
236 | Xoom Corp. (a) | 6 | ||||||
903 | Yelp, Inc. (a) | 62 | ||||||
671 | Zillow, Inc., Class – A (a) | 55 | ||||||
1,632 | Zix Corp. (a) | 7 | ||||||
3,470 | ||||||||
Investment Banking & Brokerage — 0.56% | ||||||||
3,779 | BGC Partners, Inc., Class – A | 23 | ||||||
906 | Evercore Partners, Inc., Class – A | 54 | ||||||
1,093 | FXCM, Inc., Class – A | 19 | ||||||
818 | Greenhill & Co., Inc. | 47 | ||||||
2,439 | International Fcstone, Inc. (a) | 45 |
See accompanying notes to financial statements.
41
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Investment Banking & Brokerage (continued) | ||||||||
900 | Kcg Holdings, Inc. (a) | $ | 11 | |||||
3,015 | Ladenburg Thalmann Financial Services, Inc. (a) | 9 | ||||||
2,300 | LPL Financial Holdings, Inc. | 108 | ||||||
1,960 | Oppenheimer Holdings, Inc., Class – A | 49 | ||||||
4,315 | Raymond James Financial, Inc. | 226 | ||||||
2,227 | Stifel Financial Corp. (a) | 107 | ||||||
698 | ||||||||
IT Consulting & Other Services — 0.75% | ||||||||
550 | Acxiom Corp. (a) | 20 | ||||||
3,480 | Booz Allen Hamilton Holding Corp. | 67 | ||||||
839 | CACI International, Inc., Class – A (a) | 61 | ||||||
3,812 | Computer Task Group, Inc. | 72 | ||||||
619 | EPAM Systems, Inc. (a) | 22 | ||||||
1,439 | Euronet Worldwide, Inc. (a) | 69 | ||||||
370 | Forrester Research, Inc. | 14 | ||||||
2,690 | iGATE Corp. (a) | 108 | ||||||
1,400 | Leidos Holdings, Inc. | 65 | ||||||
1,450 | Lionbridge Technologies, Inc. (a) | 9 | ||||||
69 | Luxoft Holding, Inc. (a) | 3 | ||||||
2,038 | ManTech International Corp., Class – A | 61 | ||||||
1,979 | MAXIMUS, Inc. | 87 | ||||||
3,176 | Sapient Corp. (a) | 55 | ||||||
1,790 | Science Applications International Corp. | 59 | ||||||
1,700 | ServiceSource International, Inc. (a) | 14 | ||||||
10,805 | The Hackett Group, Inc. | 67 | ||||||
2,073 | Unisys Corp. (a) | 70 | ||||||
600 | Virtusa Corp. (a) | 23 | ||||||
946 | ||||||||
Leisure Facilities — 0.14% | ||||||||
2,041 | Life Time Fitness, Inc. (a) | 96 | ||||||
1,038 | Vail Resorts, Inc. | 78 | ||||||
174 | ||||||||
Leisure Products — 0.31% | ||||||||
368 | Arctic Cat, Inc. | 21 | ||||||
2,482 | Brunswick Corp. | 115 | ||||||
3,460 | Johnson Outdoors, Inc., Class – A | 93 | ||||||
11,090 | Leapfrog Enterprises, Inc. (a) | 88 | ||||||
339 | Marine Products Corp. | 3 | ||||||
900 | Nautilus, Inc. (a) | 8 | ||||||
1,663 | Smith & Wesson Holding Corp. (a) | 22 | ||||||
562 | Sturm, Ruger & Co., Inc. | 41 | ||||||
391 | ||||||||
Life & Health Insurance — 0.78% | ||||||||
18,727 | American Equity Investment Life Holding Co. | 493 |
Shares | Security Description | Value (000) | ||||||
Life & Health Insurance (continued) | ||||||||
1,156 | FBL Financial Group, Inc., Class – A | $ | 52 | |||||
5,656 | Primerica, Inc. | 243 | ||||||
2,787 | Protective Life Corp. | 141 | ||||||
2,880 | Symetra Financial Corp. | 55 | ||||||
984 | ||||||||
Life Sciences Tools & Services — 0.99% | ||||||||
325 | Accelerate Diagnostics, Inc. (a) | 4 | ||||||
510 | Bio-Rad Laboratories, Inc., Class – A (a) | 63 | ||||||
3,330 | Bruker Biosciences Corp. (a) | 66 | ||||||
3,446 | Cambrex Corp. (a) | 61 | ||||||
1,220 | Charles River Laboratories International, Inc. (a) | 65 | ||||||
5,441 | Exelixis, Inc. (a) | 33 | ||||||
738 | Fluidigm Corp. (a) | 28 | ||||||
13,190 | Harvard Bioscience, Inc. (a) | 62 | ||||||
2,550 | Illumina, Inc. (a) | 282 | ||||||
1,105 | Luminex Corp. (a) | 21 | ||||||
1,045 | NeoGenomics, Inc. (a) | 4 | ||||||
8,024 | PAREXEL International Corp. (a) | 364 | ||||||
4,777 | QIAGEN NV (a) | 114 | ||||||
3,600 | Sequenom, Inc. (a) | 8 | ||||||
710 | Techne Corp. | 67 | ||||||
1,242 | ||||||||
Machinery — 0.42% | ||||||||
136 | Albany International Corp., Class – A | 5 | ||||||
1,220 | American Railcar Industries | 56 | ||||||
6,735 | Columbus McKinnon Corp./NY (a) | 183 | ||||||
4,100 | Hardinge, Inc. | 59 | ||||||
5,200 | ITT Corp. | 226 | ||||||
68 | Watts Water Technologies, Inc. | 4 | ||||||
533 | ||||||||
Managed Health Care — 0.70% | ||||||||
1,575 | Centene Corp. (a) | 93 | ||||||
1,880 | Health Net, Inc. (a) | 56 | ||||||
690 | Magellan Health Services, Inc. (a) | 41 | ||||||
2,439 | Molina Heathcare, Inc. (a) | 85 | ||||||
2,850 | Triple-S Management Corp., Class – A (a) | 55 | ||||||
7,930 | WellCare Health Plans, Inc. (a) | 558 | ||||||
888 | ||||||||
Marine — 0.19% | ||||||||
3,020 | CAI International, Inc. (a) | 71 | ||||||
1,361 | Kirby Corp. (a) | 135 | ||||||
1,264 | Matson, Inc. | 33 | ||||||
239 | ||||||||
Media — 0.41% | ||||||||
1,160 | AOL, Inc. (a) | 54 | ||||||
55 | Ascent Capital Group, Inc. (a) | 5 |
See accompanying notes to financial statements.
42
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Media (continued) | ||||||||
4,890 | Entercom Communications Corp. (a) | $ | 51 | |||||
43,803 | Harte-Hanks, Inc. | 342 | ||||||
5,320 | Journal Communications, Inc., Class – A (a) | 50 | ||||||
138 | SFX Entertainment, Inc. (a) | 2 | ||||||
1,168 | The McClatchy Co., Class – A (a) | 4 | ||||||
508 | ||||||||
Metal & Glass Containers — 0.54% | ||||||||
133 | AEP Industries, Inc. (a) | 7 | ||||||
3,307 | AptarGroup, Inc. | 224 | ||||||
16,151 | Berry Plastics Group, Inc. (a) | 385 | ||||||
1,230 | Greif, Inc., Class – A | 64 | ||||||
100 | Myers Industries, Inc. | 2 | ||||||
682 | ||||||||
Metals & Mining — 0.17% | ||||||||
1,520 | Hecla Mining Co. | 5 | ||||||
950 | Kaiser Aluminum Corp. | 66 | ||||||
3,160 | Nn, Inc. | 64 | ||||||
650 | Walter Energy, Inc. | 11 | ||||||
1,526 | Worthington Industries, Inc. | 64 | ||||||
210 | ||||||||
Mortgage Real Estate Investment Trusts — 0.40% | ||||||||
2,327 | AG Mortgage Investment Trust, Inc. | 36 | ||||||
9,760 | Anworth Mortgage Asset Corp. | 41 | ||||||
11,320 | Armour Residential REIT, Inc. | 45 | ||||||
4,241 | Capstead Mortgage Corp. | 51 | ||||||
6,430 | Dynex Capital, Inc. | 51 | ||||||
3,130 | Hatteras Financial Corp. | 51 | ||||||
4,000 | JAVELIN Mortgage Investment Corp. | 56 | ||||||
8,825 | Redwood Trust, Inc. | 172 | ||||||
100 | ZAIS Financial Corp. | 2 | ||||||
505 | ||||||||
Movies & Entertainment — 0.45% | ||||||||
178 | Carmike Cinemas, Inc. (a) | 5 | ||||||
6,390 | Imax Corp. (a) | 188 | ||||||
9,860 | Lions Gate Entertainment Corp. | 313 | ||||||
2,450 | Regal Entertainment Group, Class – A | 48 | ||||||
298 | Rentrak Corp. (a) | 11 | ||||||
100 | World Wrestling Entertainment, Inc., Class – A | 2 | ||||||
567 | ||||||||
Multi-line Insurance — 0.41% | ||||||||
6,452 | American Financial Group, Inc. | 373 | ||||||
2,980 | HCC Insurance Holdings, Inc. | 137 | ||||||
510 |
Shares | Security Description | Value (000) | ||||||
Multiline Retail — 0.05% | ||||||||
1,603 | Big Lots, Inc. (a) | $ | 51 | |||||
270 | Burlington Stores, Inc. (a) | 9 | ||||||
60 | ||||||||
Multi-Sector Holdings — 0.15% | ||||||||
6,775 | Leucadia National Corp. | 192 | ||||||
Multi-Utilities — 0.37% | ||||||||
4,507 | Black Hills Corp. | 236 | ||||||
1,308 | NorthWestern Corp. | 57 | ||||||
2,356 | PNM Resources, Inc. | 56 | ||||||
3,220 | TECO Energy, Inc. | 56 | ||||||
1,514 | Vectren Corp. | 54 | ||||||
459 | ||||||||
Office Real Estate Investment Trusts — 0.41% | ||||||||
2,966 | Alexandria Real Estate Equities, Inc. | 188 | ||||||
3,848 | Brandywine Realty Trust | 54 | ||||||
5,908 | Corporate Office Properties Trust | 140 | ||||||
2,450 | CyrusOne, Inc. | 55 | ||||||
790 | Highwoods Properties, Inc. | 29 | ||||||
4,407 | Lexington Realty Trust | 45 | ||||||
511 | ||||||||
Office Services & Supplies — 0.77% | ||||||||
5,700 | ACCO Brands Corp. (a) | 38 | ||||||
35,173 | ARC Document Solutions, Inc. (a) | 288 | ||||||
284 | Costa, Inc. (a) | 6 | ||||||
9,708 | Herman Miller, Inc. | 287 | ||||||
1,233 | HNI Corp. | 48 | ||||||
1,686 | Interface, Inc. | 37 | ||||||
963 | Knoll, Inc. | 18 | ||||||
822 | Mine Safety Appliances Co. | 42 | ||||||
307 | Steelcase, Inc., Class – A | 5 | ||||||
2,734 | Sykes Enterprises, Inc. (a) | 60 | ||||||
1,825 | United Stationers, Inc. | 84 | ||||||
2,170 | West Corp. | 56 | ||||||
969 | ||||||||
Oil & Gas Drilling — 0.50% | ||||||||
9,615 | Atwood Oceanics, Inc. (a) | 513 | ||||||
2,190 | Patterson-UTI Energy, Inc. | 55 | ||||||
1,040 | Unit Corp. (a) | 54 | ||||||
622 | ||||||||
Oil & Gas Equipment & Services — 0.75% | ||||||||
2,240 | C&J Energy Services, Inc. (a) | 52 | ||||||
1,650 | Dawson Geophysical Co. (a) | 56 | ||||||
2,481 | Dril-Quip, Inc. (a) | 273 | ||||||
578 | Forum Energy Technologies, Inc. (a) | 16 | ||||||
375 | Geospace Technologies Corp. (a) | 36 | ||||||
100 | Global Geophysical Services, Inc. (a) | — |
See accompanying notes to financial statements.
43
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Oil & Gas Equipment & Services (continued) | ||||||||
7,120 | Helix Energy Solutions Group, Inc. (a) | $ | 165 | |||||
865 | ION Geophysical Corp. (a) | 3 | ||||||
100 | Matrix Service Co. (a) | 2 | ||||||
6,372 | Newpark Resources, Inc. (a) | 78 | ||||||
347 | RigNet, Inc. (a) | 17 | ||||||
9,053 | Superior Energy Services, Inc. (a) | 241 | ||||||
425 | TGC Industries, Inc. (a) | 3 | ||||||
942 | ||||||||
Oil & Gas Exploration & Production — 1.50% | ||||||||
2,152 | Abraxas Petroleum Corp. (a) | 7 | ||||||
66 | Apco Oil & Gas International, Inc. (a) | 1 | ||||||
573 | Approach Resources, Inc. (a) | 11 | ||||||
208 | Athlon Energy, Inc. (a) | 6 | ||||||
4,936 | Bill Barrett Corp. (a) | 132 | ||||||
3,365 | Bonanza Creek Energy, Inc. (a) | 146 | ||||||
7,612 | Cabot Oil & Gas Corp. | 295 | ||||||
12,319 | Carrizo Oil & Gas, Inc. (a) | 552 | ||||||
81 | Contango Oil & Gas Co. (a) | 4 | ||||||
2,476 | Continental Resources, Inc. (a) | 279 | ||||||
578 | Diamondback Energy, Inc. (a) | 31 | ||||||
2,030 | Energy XXI (Bermuda) Ltd. | 55 | ||||||
500 | Evolution Petroleum Corp. | 6 | ||||||
1,715 | FX Energy, Inc. (a) | 6 | ||||||
1,624 | Gastar Exploration Ltd. (a) | 11 | ||||||
869 | Goodrich Petroleum Corp. (a) | 15 | ||||||
29 | Isramco, Inc. (a) | 4 | ||||||
7,692 | Kodiak Oil & Gas Corp. (a) | 86 | ||||||
1,600 | Magnum Hunter Resources Corp. (a) | 12 | ||||||
200 | Panhandle Oil & Gas, Inc., Class – A | 7 | ||||||
100 | Renewable Energy Group, Inc. (a) | 1 | ||||||
1,771 | Rosetta Resources, Inc. (a) | 85 | ||||||
76 | Sanchez Energy Corp. (a) | 2 | ||||||
1,500 | Synergy Resources Corp. (a) | 14 | ||||||
300 | Triangle Petroleum Corp. (a) | 2 | ||||||
908 | VAALCO Energy, Inc. (a) | 6 | ||||||
3,380 | W&T Offshore, Inc. | 54 | ||||||
16,390 | Warren Resources, Inc. (a) | 51 | ||||||
500 | ZaZa Energy Corp. (a) | — | ||||||
1,881 | ||||||||
Oil & Gas Refining & Marketing — 0.57% | ||||||||
900 | Amyris, Inc. (a) | 5 | ||||||
2,015 | Clean Energy Fuels Corp. (a) | 26 | ||||||
1,380 | CVR Energy, Inc. | 60 | ||||||
2,427 | Delek US Holdings, Inc. | 84 | ||||||
3,050 | Green Plains Renewable Energy, Inc. | 59 | ||||||
1,760 | PBF Energy, Inc. | 55 |
Shares | Security Description | Value (000) | ||||||
Oil & Gas Refining & Marketing (continued) | ||||||||
6,655 | Rentech, Inc. (a) | $ | 12 | |||||
7,260 | Rex Energy Corp. (a) | 143 | ||||||
2,253 | Western Refining, Inc. | 96 | ||||||
4,148 | World Fuel Services Corp. | 178 | ||||||
718 | ||||||||
Oil & Gas Storage & Transportation — 0.14% | ||||||||
1,239 | Crosstex Energy, Inc. | 45 | ||||||
136,440 | Enbridge Energy Management LLC (a)(b) | — | ||||||
3,290 | Ship Finance International Ltd. | 54 | ||||||
951 | Targa Resources Corp. | 84 | ||||||
183 | ||||||||
Oil, Gas & Consumable Fuels — 0.36% | ||||||||
760 | Adams Resources & Energy, Inc. | 52 | ||||||
2,297 | EPL Oil & Gas, Inc. (a) | 65 | ||||||
2,051 | EXCO Resources, Inc. | 11 | ||||||
304 | Forest Oil Corp. (a) | 1 | ||||||
126 | Jones Energy, Inc., Class – A (a) | 2 | ||||||
1,600 | PetroQuest Energy, Inc. (a) | 7 | ||||||
800 | Quicksilver Resources, Inc. (a) | 2 | ||||||
29,700 | SandRidge Energy, Inc. (a) | 181 | ||||||
1,131 | Semgroup Corp. | 74 | ||||||
1,650 | Stone Energy Corp. (a) | 57 | ||||||
452 | ||||||||
Packaged Foods & Meats — 0.58% | ||||||||
407 | Annie's, Inc. (a) | 18 | ||||||
1,522 | B&G Foods, Inc., Class – A | 52 | ||||||
1,668 | Boulder Brands, Inc. (a) | 26 | ||||||
370 | Calavo Growers, Inc. | 11 | ||||||
1,366 | Cal-Maine Foods, Inc. | 82 | ||||||
2,920 | Ingredion, Inc. | 199 | ||||||
439 | Inventure Foods, Inc. (a) | 6 | ||||||
441 | J&J Snack Foods Corp. | 39 | ||||||
529 | Lancaster Colony Corp. | 47 | ||||||
100 | Lifeway Foods, Inc. | 2 | ||||||
1,794 | Pilgrim's Pride Corp. (a) | 29 | ||||||
676 | Sanderson Farms, Inc. | 49 | ||||||
213 | Snyder's-Lance, Inc. | 6 | ||||||
1,112 | The Hain Celestial Group, Inc. (a) | 101 | ||||||
543 | Tootsie Roll Industries, Inc. | 18 | ||||||
677 | TreeHouse Foods, Inc. (a) | 47 | ||||||
732 | ||||||||
Paper & Forest Products — 0.05% | ||||||||
720 | Domtar Corp. | 68 | ||||||
Paper Packaging — 0.11% | ||||||||
2,195 | Packaging Corp. of America | 139 |
See accompanying notes to financial statements.
44
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Paper Products — 0.24% | ||||||||
483 | Clearwater Paper Corp. (a) | $ | 25 | |||||
1,178 | KapStone Paper & Packaging Corp. (a) | 66 | ||||||
1,592 | Neenah Paper, Inc. | 68 | ||||||
3,523 | P.H. Glatfelter Co. | 97 | ||||||
642 | Schweitzer-Mauduit International, Inc. | 33 | ||||||
1,385 | Wausau Paper Corp. | 18 | ||||||
307 | ||||||||
Personal Products — 0.23% | ||||||||
643 | Elizabeth Arden, Inc. (a) | 23 | ||||||
324 | Inter Parfums, Inc. | 12 | ||||||
3,021 | Lifevantage Corp. (a) | 5 | ||||||
420 | Medifast, Inc. (a) | 11 | ||||||
1,740 | Nature's Sunshine Products, Inc. | 30 | ||||||
1,210 | Nutraceutical International Corp. (a) | 32 | ||||||
3,245 | Prestige Brands Holdings, Inc. (a) | 116 | ||||||
100 | Revlon, Inc., Class – A (a) | 2 | ||||||
487 | Synutra International, Inc. (a) | 4 | ||||||
700 | The Female Health Co. | 6 | ||||||
590 | USANA Health Sciences, Inc. (a) | 45 | ||||||
286 | ||||||||
Pharmaceuticals — 1.04% | ||||||||
620 | AcelRx Pharmaceuticals, Inc. (a) | 7 | ||||||
1,260 | Actavis, Inc. PLC (a) | 213 | ||||||
832 | Aegerion Pharmaceuticals, Inc. (a) | 59 | ||||||
220 | Aerie Pharmaceuticals, Inc. | 4 | ||||||
1,711 | Akorn, Inc. (a) | 42 | ||||||
600 | Alimera Sciences, Inc. (a) | 3 | ||||||
800 | Ampio Pharmaceuticals, Inc. (a) | 6 | ||||||
105 | Aratana Therapeutics, Inc. (a) | 2 | ||||||
4,147 | Auxilium Pharmaceuticals, Inc. (a) | 86 | ||||||
4,296 | AVANIR Pharmaceuticals, Inc., Class – A (a) | 14 | ||||||
1,000 | BioDelivery Sciences International, Inc. (a) | 6 | ||||||
1,796 | Cadence Pharmaceuticals, Inc. (a) | 16 | ||||||
602 | Cempra Holdings LLC (a) | 7 | ||||||
1,600 | Corcept Therapeutics, Inc. (a) | 5 | ||||||
6,470 | Cornerstone Therapeutics, Inc. (a) | 61 | ||||||
1,708 | DepoMed, Inc. (a) | 18 | ||||||
925 | Endocyte, Inc. (a) | 10 | ||||||
200 | Furiex Pharmaceuticals, Inc. (a) | 8 | ||||||
1,572 | Hi-Tech Pharmacal Co., Inc. (a) | 68 | ||||||
2,615 | Impax Laboratories, Inc. (a) | 66 | ||||||
560 | Lannett Co., Inc. (a) | 19 | ||||||
2,362 | Nektar Therapeutics (a) | 27 | ||||||
200 | Omthera Pharmaceutical, Inc. (a) | — | ||||||
801 | Pacira Pharmaceuticals, Inc. (a) | 46 | ||||||
6,720 | POZEN, Inc. | 54 |
Shares | Security Description | Value (000) | ||||||
Pharmaceuticals (continued) | ||||||||
1,502 | Questcor Pharmaceuticals, Inc. | $ | 82 | |||||
1,764 | Raptor Pharmaceuticals Corp. (a) | 23 | ||||||
139 | Relypsa, Inc. (a) | 3 | ||||||
700 | Repros Therapeutics, Inc. (a) | 13 | ||||||
541 | Sagent Pharmaceuticals, Inc. (a) | 14 | ||||||
1,609 | Santarus, Inc. (a) | 51 | ||||||
407 | Sucampo Pharmaceuticals, Inc., Class – A (a) | 4 | ||||||
500 | Supernus Pharmaceuticals, Inc. (a) | 4 | ||||||
3,451 | The Medicines Co. (a) | 133 | ||||||
2,300 | TherapeuticsMD, Inc. (a) | 12 | ||||||
1,888 | ViroPharma, Inc. (a) | 94 | ||||||
2,979 | VIVUS, Inc. (a) | 27 | ||||||
200 | XenoPort, Inc. (a) | 1 | ||||||
1,308 | ||||||||
Precious Metals & Minerals — 0.02% | ||||||||
1,114 | Coeur d'Alene Mines Corp. (a) | 12 | ||||||
1,100 | Gold Resource Corp. | 5 | ||||||
4,283 | Paramount Gold & Silver Corp. (a) | 4 | ||||||
21 | ||||||||
Property & Casualty Insurance — 1.67% | ||||||||
880 | Alleghany Corp. (a) | 353 | ||||||
276 | Ambac Financial Group, Inc. (a) | 7 | ||||||
740 | AmTrust Financial Services, Inc. | 24 | ||||||
15,493 | Argo Group International Holdings Ltd. | 719 | ||||||
14,612 | Aspen Insurance Holdings Ltd. | 604 | ||||||
640 | Employers Holdings, Inc. | 20 | ||||||
11 | Hallmark Financial Services, Inc. (a) | — | ||||||
281 | HCI Group, Inc. | 15 | ||||||
100 | Meadowbrook Insurance Group, Inc. | 1 | ||||||
1,760 | Stewart Information Services Corp. | 57 | ||||||
135 | Tower Group International Ltd. | — | ||||||
4,520 | Universal Insurance Holdings, Inc. | 65 | ||||||
5,146 | W.R. Berkley Corp. | 223 | ||||||
2,088 | ||||||||
Publishing — 0.10% | ||||||||
1,729 | Scholastic Corp. | 58 | ||||||
152 | Shutterstock, Inc. (a) | 13 | ||||||
1,680 | Valassis Communications, Inc. | 58 | ||||||
129 | ||||||||
Railroads — 0.09% | ||||||||
961 | Kansas City Southern Industries | 119 | ||||||
Real Estate Investment Trusts (REITs) — 0.42% | ||||||||
2,240 | American Capital Mortgage Investment Corp. | 39 | ||||||
7,100 | Ares Commercial Real Estate Corp. | 92 | ||||||
2,650 | Ashford Hospitality Prime, Inc. | 48 | ||||||
6,500 | Ashford Hospitality Trust | 54 |
See accompanying notes to financial statements.
45
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Real Estate Investment Trusts (REITs) (continued) | ||||||||
8,710 | Cedar Realty Trust, Inc. | $ | 55 | |||||
7,030 | CYS Investments, Inc. | 52 | ||||||
3,340 | Ellington Residential Mortgage REIT | 51 | ||||||
280 | Empire State Realty Trust, Inc., Class – A | 4 | ||||||
1,104 | Healthcare Realty Trust, Inc. | 24 | ||||||
3,103 | Invesco Mortgage Capital | 46 | ||||||
175 | Investors Real Estate Trust | 2 | ||||||
184 | Rexford Industrial Realty | 2 | ||||||
456 | Sabra Healthcare REIT, Inc. | 12 | ||||||
3,160 | Western Asset Mortgage Capital Corp. | 47 | ||||||
528 | ||||||||
Real Estate Management & Development — 0.01% | ||||||||
100 | Forestar Group, Inc. (a) | 2 | ||||||
184 | Kennedy-Wilson Holdings, Inc. | 4 | ||||||
146 | RE/MAX Holdings, Inc., Class – A (a) | 5 | ||||||
11 | ||||||||
Regional Banks — 4.34% | ||||||||
18,350 | BancorpSouth, Inc. | 466 | ||||||
656 | Bank of the Ozarks, Inc. | 37 | ||||||
29,006 | BBCN Bancorp, Inc. | 481 | ||||||
1,140 | Camden National Corp. | 48 | ||||||
42,531 | CapitalSource, Inc. | 612 | ||||||
1,110 | Century Bancorp, Inc., Class – A | 37 | ||||||
10,947 | Columbia Banking System, Inc. | 301 | ||||||
6,530 | Cullen/Frost Bankers, Inc. | 486 | ||||||
2,750 | First Bancorp, Inc. Maine | 48 | ||||||
210 | First Citizens BancShares, Inc., Class – A | 47 | ||||||
2,830 | First Community Bancshares, Inc. | 47 | ||||||
1,730 | First Interstate BancSystem, Inc. | 49 | ||||||
1,700 | Great Southern Bancorp, Inc. | 52 | ||||||
1,610 | Heartland Financial USA, Inc. | 46 | ||||||
1,850 | International Bancshares Corp. | 49 | ||||||
173 | Investors Bancorp, Inc. | 4 | ||||||
2,880 | MainSource Financial Group, Inc. | 52 | ||||||
65,427 | National Penn Bancshares, Inc. | 742 | ||||||
1,890 | NBT Bancorp, Inc. | 49 | ||||||
2,130 | Peoples Bancorp, Inc. | 48 | ||||||
8,710 | Popular, Inc. (a) | 250 | ||||||
2,010 | Republic Bancorp, Inc., Class – A | 49 | ||||||
79,800 | Synovus Financial Corp. | 287 | ||||||
40,755 | TCF Financial Corp. | 663 | ||||||
13,653 | Webster Financial Corp. | 426 | ||||||
1,550 | WesBanco, Inc. | 50 | ||||||
5,426 |
Shares | Security Description | Value (000) | ||||||
Reinsurance — 0.22% | ||||||||
1,649 | Everest Re Group Ltd. | $ | 256 | |||||
221 | Greenlight Capital Re Ltd. (a) | 7 | ||||||
207 | Third Point Reinsurance Ltd. (a) | 4 | ||||||
267 | ||||||||
Research and Consulting Services — 0.54% | ||||||||
419 | Acacia Research Corp./Acacia Technologies LLC | 6 | ||||||
5,080 | CBIZ, Inc. (a) | 46 | ||||||
829 | CoStar Group, Inc. (a) | 153 | ||||||
389 | Exponent, Inc. | 30 | ||||||
200 | Franklin Covey Co. (a) | 4 | ||||||
91 | Huron Consulting Group, Inc. (a) | 6 | ||||||
1,350 | ICF International, Inc. (a) | 47 | ||||||
485 | Mistras Group, Inc. (a) | 10 | ||||||
2,366 | Odyssey Marine Exploration, Inc. (a) | 5 | ||||||
800 | Pendrell Corp. (a) | 2 | ||||||
11,010 | RPX Corp. (a) | 186 | ||||||
1,026 | The Advisory Board Co. (a) | 65 | ||||||
971 | The Corporate Executive Board Co. | 75 | ||||||
960 | VSE Corp. | 46 | ||||||
681 | ||||||||
Residential Real Estate Investment Trusts — 0.36% | ||||||||
3,243 | Associated Estates Realty Corp. | 52 | ||||||
1,340 | Equity Lifestyle Properties, Inc. | 49 | ||||||
5,030 | Mid-America Apartment Communities, Inc. | 305 | ||||||
1,027 | Sun Communities, Inc. | 44 | ||||||
100 | UMH Properties, Inc. | 1 | ||||||
451 | ||||||||
Restaurants — 1.04% | ||||||||
707 | AFC Enterprises, Inc. (a) | 27 | ||||||
694 | BJ's Restaurant, Inc. (a) | 22 | ||||||
1,632 | Bloomin' Brands, Inc. (a) | 39 | ||||||
1,300 | Bob Evans Farms, Inc. | 66 | ||||||
555 | Bravo Brio Restaurant Group, Inc. (a) | 9 | ||||||
3,412 | Buffalo Wild Wings, Inc. (a) | 503 | ||||||
1,924 | CEC Entertainment, Inc. | 86 | ||||||
471 | Chuy's Holdings, Inc. (a) | 17 | ||||||
567 | Cracker Barrel Old Country Store, Inc. | 62 | ||||||
100 | Del Frisco's Restaurant Group, Inc. (a) | 2 | ||||||
2,142 | Denny's Corp. (a) | 15 | ||||||
257 | DineEquity, Inc. | 21 | ||||||
400 | Diversified Restaurant Holdings, Inc. (a) | 2 | ||||||
4,280 | Einstein Noah Restaurant Group, Inc. | 62 | ||||||
618 | Fiesta Restaurant Group, Inc. (a) | 32 | ||||||
228 | Ignite Restaurant Group, Inc. (a) | 3 | ||||||
1,042 | Jack in the Box, Inc. (a) | 52 | ||||||
500 | Jamba, Inc. (a) | 6 |
See accompanying notes to financial statements.
46
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Restaurants (continued) | ||||||||
1,876 | Krispy Kreme Doughnuts, Inc. (a) | $ | 36 | |||||
86 | Nathan's Famous, Inc. (a) | 4 | ||||||
140 | Noodles & Co. (a) | 5 | ||||||
930 | Papa John's International, Inc. | 42 | ||||||
363 | Red Robin Gourmet Burgers, Inc. (a) | 27 | ||||||
1,082 | Ruth's Hospitality Group, Inc. | 15 | ||||||
1,321 | Sonic Corp. (a) | 27 | ||||||
1,790 | Texas Roadhouse, Inc., Class – A | 50 | ||||||
1,541 | The Cheesecake Factory, Inc. | 75 | ||||||
1,307 | ||||||||
Retail Real Estate Investment Trusts — 0.21% | ||||||||
299 | Acadia Realty Trust | 7 | ||||||
61 | Alexander's, Inc. | 20 | ||||||
2,910 | CBL & Associates Properties, Inc. | 52 | ||||||
3,828 | Glimcher Realty Trust | 36 | ||||||
2,060 | Inland Real Estate Corp. | 22 | ||||||
2,778 | Pennsylvania Real Estate Investment Trust | 53 | ||||||
3,414 | Ramco-Gershenson Properties Trust | 54 | ||||||
233 | Saul Centers, Inc. | 11 | ||||||
564 | Urstadt Biddle Properties, Inc., Class – A | 10 | ||||||
265 | ||||||||
Security & Alarm Services — 0.07% | ||||||||
2,417 | The Brink's Co. | 83 | ||||||
Semiconductor Equipment — 1.11% | ||||||||
3,266 | Advanced Energy Industries, Inc. (a) | 75 | ||||||
8,210 | Amkor Technology, Inc. (a) | 50 | ||||||
2,625 | Cabot Microelectronics Corp. (a) | 120 | ||||||
5,067 | Entegris, Inc. (a) | 59 | ||||||
4,014 | FEI Co. | 359 | ||||||
3,354 | GT Advanced Technologies, Inc. (a) | 29 | ||||||
738 | PDF Solutions, Inc. (a) | 19 | ||||||
100 | Rubicon Technology, Inc. (a) | 1 | ||||||
200 | Rudolph Technologies, Inc. (a) | 2 | ||||||
17,401 | SunEdison, Inc. (a) | 227 | ||||||
2,926 | Teradyne, Inc. (a) | 52 | ||||||
5,390 | Tessera Technologies, Inc. | 106 | ||||||
9,700 | Ultratech, Inc. (a) | 281 | ||||||
270 | Veeco Instruments, Inc. (a) | 9 | ||||||
1,389 | ||||||||
Semiconductors — 3.17% | ||||||||
7,590 | Alpha & Omega Semiconductor Ltd. (a) | 59 | ||||||
4,095 | Altera Corp. | 133 | ||||||
560 | Ambarella, Inc. (a) | 19 | ||||||
2,162 | Applied Micro Circuits Corp. (a) | 29 | ||||||
1,480 | Cavium, Inc. (a) | 51 |
Shares | Security Description | Value (000) | ||||||
Semiconductors (continued) | ||||||||
758 | Cirrus Logic, Inc. (a) | $ | 15 | |||||
37,257 | Cypress Semiconductor Corp. | 391 | ||||||
20,056 | Diodes, Inc. (a) | 474 | ||||||
1,132 | Exar Corp. (a) | 13 | ||||||
17,531 | Fairchild Semiconductor International, Inc. (a) | 234 | ||||||
909 | Hittite Microwave Corp. (a) | 56 | ||||||
302 | Inphi Corp. (a) | 4 | ||||||
4,517 | Integrated Silicon Solution, Inc. (a) | 55 | ||||||
600 | Intermolecular, Inc. (a) | 3 | ||||||
11,555 | International Rectifier Corp. (a) | 301 | ||||||
4,460 | IXYS Corp. | 58 | ||||||
900 | Lattice Semiconductor Corp. (a) | 5 | ||||||
319 | MA-COM Technology Solutions Holdings, Inc. (a) | 5 | ||||||
6,576 | Maxim Integrated Products, Inc. | 184 | ||||||
715 | MaxLinear, Inc. (a) | 7 | ||||||
1,409 | Micrel, Inc. | 14 | ||||||
7,538 | Microsemi Corp. (a) | 188 | ||||||
10,708 | Monolithic Power Systems, Inc. (a) | 371 | ||||||
1,200 | MoSys, Inc. (a) | 7 | ||||||
129 | NVE Corp. (a) | 8 | ||||||
20,693 | ON Semiconductor Corp. (a) | 171 | ||||||
854 | Peregrine Semiconductor Corp. (a) | 6 | ||||||
1,300 | PLX Technology, Inc. (a) | 9 | ||||||
3,331 | Power Integrations, Inc. | 186 | ||||||
3,305 | Rambus, Inc. (a) | 31 | ||||||
7,255 | RF Micro Devices, Inc. (a) | 37 | ||||||
1,943 | Semtech Corp. (a) | 49 | ||||||
2,269 | Silicon Image, Inc. (a) | 14 | ||||||
1,907 | Silicon Laboratories, Inc. (a) | 83 | ||||||
13,508 | Skyworks Solutions, Inc. (a) | 386 | ||||||
4,092 | Spansion, Inc., Class – A (a) | 57 | ||||||
1,198 | SunPower Corp. (a) | 36 | ||||||
25,590 | TriQuint Semiconductor, Inc. (a) | 213 | ||||||
3,962 | ||||||||
Semiconductors & Semiconductor Equipment — 0.29% | ||||||||
13,600 | Atmel Corp. (a) | 107 | ||||||
11,107 | Integrated Device Technology, Inc. (a) | 114 | ||||||
421 | Nanometrics, Inc. (a) | 8 | ||||||
3,440 | OmniVision Technologies, Inc. (a) | 59 | ||||||
6,120 | Photronics, Inc. (a) | 55 | ||||||
2,566 | PMC – Sierra, Inc. (a) | 16 | ||||||
359 | ||||||||
Soft Drinks — 0.05% | ||||||||
771 | Coca-Cola Bottling Co. Consolidated | 56 | ||||||
336 | National Beverage Corp. (a) | 7 | ||||||
63 |
See accompanying notes to financial statements.
47
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Software — 0.18% | ||||||||
110 | Barracuda Networks, Inc. | $ | 4 | |||||
7,700 | Fortinet, Inc. (a) | 148 | ||||||
700 | SeaChange International, Inc. (a) | 9 | ||||||
28,230 | Telecommunication Systems, Inc. (a) | 65 | ||||||
226 | ||||||||
Specialized Consumer Services — 0.59% | ||||||||
478 | Carriage Services, Inc. | 9 | ||||||
3,804 | Hillenbrand, Inc. | 112 | ||||||
129 | JTH Holding, Inc., Class – A (a) | 3 | ||||||
1,796 | LifeLock, Inc. (a) | 29 | ||||||
8,604 | Matthews International Corp., Class – A | 368 | ||||||
1,560 | Outerwall, Inc. (a) | 105 | ||||||
1,979 | Sotheby's | 105 | ||||||
137 | Steiner Leisure Ltd. (a) | 7 | ||||||
738 | ||||||||
Specialized Finance — 0.60% | ||||||||
578 | Encore Capital Group, Inc. (a) | 29 | ||||||
1,930 | Interactive Brokers Group, Inc., Class – A | 47 | ||||||
1,084 | MarketAxess Holdings, Inc. | 72 | ||||||
15,839 | PHH Corp. (a) | 386 | ||||||
4,148 | Portfolio Recovery Associates, Inc. (a) | 219 | ||||||
753 | ||||||||
Specialized Real Estate Investment Trusts — 0.61% | ||||||||
29,884 | DiamondRock Hospitality Co. | 344 | ||||||
1,720 | LaSalle Hotel Properties | 53 | ||||||
891 | LTC Properties, Inc. | 32 | ||||||
804 | National Health Investors, Inc. | 45 | ||||||
3,486 | Potlatch Corp. | 146 | ||||||
847 | Ryman Hospitality Properties, Inc. | 35 | ||||||
825 | Sovran Self Storage, Inc. | 54 | ||||||
4,425 | Strategic Hotels & Resorts, Inc. (a) | 42 | ||||||
353 | Universal Health Realty Income Trust | 14 | ||||||
765 | ||||||||
Specialty Chemicals — 1.26% | ||||||||
1,900 | A. Schulman, Inc. | 67 | ||||||
304 | Advanced Emissions Solutions, Inc. (a) | 16 | ||||||
3,013 | Albemarle Corp. | 191 | ||||||
162 | American Pacific Corp. (a) | 6 | ||||||
854 | Balchem Corp. | 50 | ||||||
1,360 | Celanese Corp., Series A, Series A | 75 | ||||||
2,840 | Chemtura Corp. (a) | 79 | ||||||
4,317 | FutureFuel Corp. | 68 | ||||||
4,403 | H.B. Fuller Co. | 229 | ||||||
648 | Innophos Holdings, Inc. | 31 | ||||||
634 | Innospec, Inc. | 29 |
Shares | Security Description | Value (000) | ||||||
Specialty Chemicals (continued) | ||||||||
213 | KMG Chemicals, Inc. | $ | 4 | |||||
10,900 | Kraton Performance Polymers, Inc. (a) | 252 | ||||||
800 | Landec Corp. (a) | 10 | ||||||
751 | NewMarket Corp. | 251 | ||||||
64 | OM Group, Inc. (a) | 2 | ||||||
1,423 | Omnova Solutions, Inc. (a) | 13 | ||||||
2,877 | PolyOne Corp. | 102 | ||||||
100 | Quaker Chemical Corp. | 8 | ||||||
1,336 | Stepan Co. | 88 | ||||||
400 | Taminco Corp. (a) | 8 | ||||||
270 | Zep, Inc. | 5 | ||||||
1,584 | ||||||||
Specialty Retail — 0.12% | ||||||||
3,394 | Big 5 Sporting Goods Corp. | 68 | ||||||
794 | Brown Shoe Co., Inc. | 22 | ||||||
1,100 | Christopher & Banks Corp. (a) | 9 | ||||||
1,415 | Flotek Industries, Inc. (a) | 28 | ||||||
148 | Haverty Furniture Cos., Inc. | 5 | ||||||
1,900 | Office Depot, Inc. (a) | 10 | ||||||
1,200 | Pacific Sunwear of California, Inc. (a) | 4 | ||||||
176 | The Container Store Group, Inc. (a) | 8 | ||||||
154 | ||||||||
Specialty Stores — 0.70% | ||||||||
100 | Barnes & Noble, Inc. (a) | 1 | ||||||
5,495 | Cabela's, Inc., Class – A (a) | 366 | ||||||
660 | Conn's, Inc. (a) | 52 | ||||||
940 | Five Below, Inc. (a) | 41 | ||||||
744 | Hibbett Sports, Inc. (a) | 50 | ||||||
4,050 | Tractor Supply Co. | 314 | ||||||
881 | Vitamin Shoppe, Inc. (a) | 46 | ||||||
72 | Winmark Corp. | 7 | ||||||
877 | ||||||||
Steel — 0.63% | ||||||||
6,430 | Allegheny Technologies, Inc. | 229 | ||||||
2,002 | Carpenter Technology Corp. | 125 | ||||||
100 | Handy & Harman Ltd. (a) | 2 | ||||||
2,438 | Olympic Steel, Inc. | 71 | ||||||
11,131 | Schnitzer Steel Industries, Inc., Class – A | 363 | ||||||
790 | ||||||||
Systems Software — 0.58% | ||||||||
703 | AVG Technologies NV (a) | 12 | ||||||
1,348 | CommVault Systems, Inc. (a) | 101 | ||||||
2,684 | Fleetmatics Group Ltd. (a) | 116 | ||||||
56 | Gigamon, Inc. (a) | 2 | ||||||
598 | Imperva, Inc. (a) | 29 | ||||||
1,557 | Infoblox, Inc. (a) | 51 |
See accompanying notes to financial statements.
48
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Systems Software (continued) | ||||||||
767 | Progress Software Corp. (a) | $ | 20 | |||||
653 | Proofpoint, Inc. (a) | 22 | ||||||
432 | Qualys, Inc. (a) | 10 | ||||||
200 | Rally Software Development Corp. (a) | 4 | ||||||
16,121 | Rovi Corp. (a) | 316 | ||||||
300 | VASCO Data Security International, Inc. (a) | 2 | ||||||
2,940 | Walker & Dunlop, Inc. (a) | 48 | ||||||
733 | ||||||||
Technology Distributors — 0.90% | ||||||||
300 | Electro Rent Corp. | 6 | ||||||
23,415 | Ingram Micro, Inc. (a) | 549 | ||||||
17,365 | Insight Enterprises, Inc. (a) | 394 | ||||||
2,430 | PC Connection, Inc. | 60 | ||||||
860 | SYNNEX Corp. (a) | 58 | ||||||
1,102 | Tech Data Corp. (a) | 57 | ||||||
1,124 | ||||||||
Textiles, Apparel & Luxury Goods — 0.03% | ||||||||
227 | Culp, Inc. | 5 | ||||||
2,886 | Quiksilver, Inc. (a) | 25 | ||||||
79 | Vince Holding Corp. (a) | 2 | ||||||
32 | ||||||||
Thrifts & Mortgage Finance — 0.65% | ||||||||
2,750 | Apollo Residential Mortgage, Inc. | 41 | ||||||
2,202 | Bofl Holding, Inc. (a) | 173 | ||||||
1,390 | Federal Agricultural Mortgage Corp., Class – C | 48 | ||||||
1,850 | First Defiance Financial Corp. | 48 | ||||||
4,360 | First Niagara Financial Group, Inc. | 46 | ||||||
2,270 | HomeStreet, Inc. | 45 | ||||||
18,215 | MGIC Investment Corp. (a) | 154 | ||||||
400 | Northfield BanCorp, Inc. | 5 | ||||||
419 | Oritani Financial Corp. | 7 | ||||||
3,160 | Provident Financial Holdings | 47 | ||||||
1,404 | Radian Group, Inc. | 20 | ||||||
100 | Tree.com, Inc. (a) | 3 | ||||||
2,318 | WSFS Financial Corp. | 180 | ||||||
817 | ||||||||
Tires & Rubber — 0.00% | ||||||||
222 | Cooper Tire & Rubber Co. | 5 | ||||||
Tobacco — 0.07% | ||||||||
4,832 | Star Scientific, Inc. (a) | 6 | ||||||
1,060 | Universal Corp. | 57 |
Shares | Security Description | Value (000) | ||||||
Tobacco (continued) | ||||||||
1,317 | Vector Group Ltd. | $ | 22 | |||||
85 | ||||||||
Trading Companies & Distributors — 1.27% | ||||||||
163 | Aceto Corp. | 4 | ||||||
4,011 | Aircastle Ltd. | 77 | ||||||
6,360 | Applied Industrial Technologies, Inc. | 312 | ||||||
1,401 | Beacon Roofing Supply, Inc. (a) | 56 | ||||||
1,200 | BlueLinx Holdings, Inc. (a) | 2 | ||||||
281 | DXP Enterprises, Inc. (a) | 32 | ||||||
3,141 | GATX Corp. | 164 | ||||||
837 | H&E Equipment Services, Inc. (a) | 25 | ||||||
4,930 | Houston Wire & Cable Co. | 66 | ||||||
523 | Kaman Corp. | 21 | ||||||
9,847 | MRC Global, Inc. (a) | 318 | ||||||
381 | Rush Enterprises, Inc., Class – A (a) | 11 | ||||||
86 | Stock Building Supply Holdings, Inc. (a) | 2 | ||||||
1,650 | TAL International Group, Inc. | 95 | ||||||
1,862 | Textainer Group Holdings Ltd. | 75 | ||||||
3,474 | Watsco, Inc. | 334 | ||||||
1,594 | ||||||||
Trucking — 0.52% | ||||||||
190 | AMERCO, Inc. (a) | 45 | ||||||
40 | Celadon Group, Inc. | 1 | ||||||
9,978 | Con-way, Inc. | 396 | ||||||
1,031 | Heartland Express, Inc. | 20 | ||||||
1,738 | Knight Transportation, Inc. | 32 | ||||||
200 | Quality Distribution, Inc. (a) | 3 | ||||||
272 | Roadrunner Transportation Systems, Inc. (a) | 7 | ||||||
790 | Ryder System, Inc. | 58 | ||||||
718 | Saia, Inc. (a) | 23 | ||||||
2,414 | Swift Transportation Co. (a) | 54 | ||||||
135 | Universal Truckload Services, Inc. | 4 | ||||||
384 | Werner Enterprises, Inc. | 9 | ||||||
100 | YRC Worldwide, Inc. (a) | 2 | ||||||
654 | ||||||||
Water Utilities — 0.01% | ||||||||
98 | American States Water Co. | 3 | ||||||
600 | Pure Cycle Corp. (a) | 4 | ||||||
134 | SJW Corp. | 4 | ||||||
306 | The York Water Co. | 6 | ||||||
17 |
See accompanying notes to financial statements.
49
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Wireless Telecommunication Services — 0.45% | ||||||||
385 | Leap Wireless International, Inc. (a) | $ | 7 | |||||
89,984 | NII Holdings, Inc. (a) | 248 | ||||||
2,296 | NTELOS Holding Corp. | 46 | ||||||
1,940 | SBA Communications Corp., Class – A (a) | 174 | ||||||
620 | Shenandoah Telecommunications Co. | 16 | ||||||
1,440 | Telephone & Data Systems, Inc. | 37 | ||||||
2,710 | USA Mobility, Inc. | 39 | ||||||
567 | ||||||||
Total Common Stocks | 110,453 | |||||||
Contingent Rights — 0.00% | ||||||||
Hotels, Restaurants & Leisure — 0.00% | ||||||||
1,010 | Caesars Acquisition Co.* (a) | 3 | ||||||
Oil, Gas & Consumable Fuels — 0.00% | ||||||||
2,051 | EXCO Resources, Inc. (a) | — | ||||||
Total Contingent Rights | 3 | |||||||
Warrant — 0.00% | ||||||||
Oil & Gas Exploration & Production — 0.00% | ||||||||
160 | Magnum Hunter Resources Corp. (a) | — | ||||||
Total Warrant | — | |||||||
Time Deposit — 2.41% | ||||||||
$3,017 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/14 | 3,017 | ||||||
Total Time Deposit | 3,017 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Mutual Funds — 9.74% | ||||||||
11,997,879 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (c) | $ | 11,998 | |||||
220,244 | SSgA Treasury Money Market Fund, 0.00% (c) | 220 | ||||||
Total Mutual Funds | 12,218 | |||||||
Total Investments (cost $88,076) — 100.21% | 125,691 | |||||||
Liabilities in excess of other assets — (0.21)% | (260 | ) | ||||||
Net Assets — 100.00% | $ | 125,431 |
Amounts designated as “—” are $0 or have been rounded to $0.
* | Security was fair valued on December 31, 2013 and represents a Level 2 security. Refer to Note 2 in the Notes to Financial Statements. |
(a) | Represents non-income producing security. |
(b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security has been deemed illiquid by the Specialist Manager and represents 0.00% of the Portfolio. |
(c) | The rate disclosed is the rate in effect on December 31, 2013. |
ADR — American Depositary Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of the total net assets of the Portfolio attributable to each Specialist Manager, see Note 3 in the Notes to Financial Statements.
The Small Capitalization-Mid Capitalization Equity Portfolio | Frontier Capital Management Company, LLC | IronBridge Capital Management LP | Mellon Capital Management Corporation | Pzena Investment Management, LLC | Total | |||||||||||||||
Common Stocks | 22.40 | % | 16.77 | % | 35.56 | % | 13.33 | % | 88.06 | % | ||||||||||
Contingent Rights | — | — | 0.00 | % | — | 0.00 | % | |||||||||||||
Warrants | — | — | 0.00 | % | — | 0.00 | % | |||||||||||||
Time Deposits | 1.30 | % | 0.63 | % | — | 0.48 | % | 2.41 | % | |||||||||||
Mutual Funds | — | — | 9.74 | % | — | 9.74 | % | |||||||||||||
Other Assets (Liabilities) | -0.05 | % | -0.22 | % | 0.05 | % | 0.01 | % | -0.21 | % | ||||||||||
Total Net Assets | 23.65 | % | 17.18 | % | 45.35 | % | 13.82 | % | 100.00% |
See accompanying notes to financial statements.
50
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 81.93% | ||||||||
Aerospace & Defense — 1.82% | ||||||||
2,553 | AAR Corp. | $ | 72 | |||||
661 | Alliant Techsystems, Inc. | 80 | ||||||
1,201 | Curtiss-Wright Corp. | 75 | ||||||
11,750 | Engility Holdings, Inc. (a) | 392 | ||||||
6,580 | Esterline Technologies Corp. (a) | 671 | ||||||
4,159 | Exelis, Inc. | 79 | ||||||
4,788 | GenCorp, Inc. (a) | 86 | ||||||
8,976 | Moog, Inc., Class – A (a) | 610 | ||||||
1,010 | National Presto Industries, Inc. (a) | 81 | ||||||
29,744 | Orbital Sciences Corp. (a) | 694 | ||||||
5,630 | Triumph Group, Inc. | 428 | ||||||
3,268 | ||||||||
Agricultural Products — 0.04% | ||||||||
3,520 | Darling International, Inc. (a) | 73 | ||||||
Air Freight & Logistics — 0.46% | ||||||||
9,230 | Air Transport Services Group, Inc. (a) | 75 | ||||||
1,850 | Atlas Air Worldwide Holdings, Inc. (a) | 76 | ||||||
7,578 | Hub Group, Inc., Class – A (a) | 302 | ||||||
21,880 | UTI Worldwide, Inc. | 384 | ||||||
837 | ||||||||
Airlines — 1.65% | ||||||||
4,260 | Alaska Air Group, Inc. | 313 | ||||||
8,110 | American Airlines Group, Inc. (a) | 205 | ||||||
5,600 | Controladora Vuela Compania de Aviacion SAB de CV, ADR (a) | 76 | ||||||
7,770 | Hawaiian Holdings, Inc. (a) | 75 | ||||||
24,030 | JetBlue Airways Corp. (a) | 205 | ||||||
4,490 | SkyWest, Inc. | 67 | ||||||
53,500 | United Continental Holdings, Inc. (a) | 2,023 | ||||||
2,964 | ||||||||
Alternative Carriers — 0.17% | ||||||||
26,738 | Premiere Global Services, Inc. (a) | 310 | ||||||
Apparel Retail — 0.71% | ||||||||
2,080 | Abercrombie & Fitch Co., Class – A | 68 | ||||||
51,232 | Aeropostale, Inc. (a) | 466 | ||||||
9,965 | Chico's FAS, Inc. | 188 | ||||||
4,880 | Stein Mart, Inc. | 66 | ||||||
6,666 | The Buckle, Inc. | 350 | ||||||
2,140 | The Cato Corp. | 68 | ||||||
5,960 | Tilly's, Inc., Class – A (a) | 68 | ||||||
1,274 | ||||||||
Apparel, Accessories & Luxury Goods — 0.77% | ||||||||
1,693 | G-III Apparel Group Ltd. (a) | 125 | ||||||
28,770 | The Jones Group, Inc. | 430 | ||||||
7,884 | Under Armour, Inc., Class – A (a) | 689 | ||||||
5,800 | Vera Bradley, Inc. (a) | 139 | ||||||
1,383 | ||||||||
Application Software — 1.76% | ||||||||
6,630 | Advent Software, Inc. | 232 | ||||||
12,595 | Aspen Technology, Inc. (a) | 527 |
Shares | Security Description | Value (000) | ||||||
Application Software (continued) | ||||||||
7,060 | Compuware Corp. | $ | 79 | |||||
5,020 | EPIQ Systems, Inc. | 81 | ||||||
1,250 | ePlus, Inc. (a) | 71 | ||||||
1,160 | Fair Isaac Corp. | 73 | ||||||
2,547 | Guidewire Software, Inc. (a) | 125 | ||||||
3,421 | Mentor Graphics Corp. | 82 | ||||||
13,090 | PROS Holdings, Inc. (a) | 523 | ||||||
14,578 | PTC, Inc. (a) | 516 | ||||||
4,136 | SolarWinds, Inc. (a) | 156 | ||||||
12,440 | Telenav, Inc. (a) | 82 | ||||||
599 | The Ultimate Software Group, Inc. (a) | 92 | ||||||
9,028 | TIBCO Software, Inc. (a) | 203 | ||||||
24,915 | TiVo, Inc. (a) | 327 | ||||||
3,169 | ||||||||
Asset Management & Custody Banks — 0.69% | ||||||||
5,540 | Calamos Asset Management, Inc., Class – A | 66 | ||||||
4,690 | Financial Engines, Inc. | 326 | ||||||
13,021 | Waddell & Reed Financial, Inc., Class – A | 847 | ||||||
1,239 | ||||||||
Auto Components — 0.10% | ||||||||
13,760 | Stoneridge, Inc. (a) | 175 | ||||||
Auto Parts & Equipment — 0.98% | ||||||||
4,084 | Autoliv, Inc. | 375 | ||||||
32,450 | Dana Holding Corp. | 637 | ||||||
23,300 | Modine Manufacturing Co. (a) | 299 | ||||||
3,430 | Standard Motor Products, Inc. | 126 | ||||||
1,950 | Tenneco, Inc. (a) | 110 | ||||||
2,840 | TRW Automotive Holdings Corp. (a) | 211 | ||||||
1,758 | ||||||||
Automobile Manufacturers — 0.06% | ||||||||
664 | Tesla Motors, Inc. (a) | 100 | ||||||
Automotive Retail — 0.40% | ||||||||
960 | Group 1 Automotive, Inc. | 68 | ||||||
13,820 | Murphy USA, Inc. (a) | 575 | ||||||
2,780 | Sonic Automotive, Inc., Class – A | 68 | ||||||
711 | ||||||||
Biotechnology — 1.66% | ||||||||
8,195 | Acadia Pharmaceuticals, Inc. (a) | 205 | ||||||
1,593 | BioMarin Pharmaceutical, Inc. (a) | 112 | ||||||
2,490 | Celldex Therapeutics, Inc. (a) | 60 | ||||||
1,667 | Cellular Dynamics International, Inc. (a) | 28 | ||||||
13,569 | Cepheid, Inc. (a) | 633 | ||||||
6,298 | Cubist Pharmaceuticals, Inc. (a) | 434 | ||||||
3,298 | Emergent BioSolutions, Inc. (a) | 76 | ||||||
666 | Foundation Medicine, Inc. (a) | 16 | ||||||
9,895 | Genomic Health, Inc. (a) | 290 | ||||||
11,900 | InterMune, Inc. (a) | 175 | ||||||
5,660 | Isis Pharmaceuticals, Inc. (a) | 225 | ||||||
12,540 | Myriad Genetics, Inc. (a) | 263 | ||||||
6,982 | NPS Pharmaceuticals, Inc. (a) | 212 | ||||||
8,390 | PDL BioPharma, Inc. | 71 |
See accompanying notes to financial statements.
51
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Biotechnology (continued) | ||||||||
6,260 | Repligen Corp. (a) | $ | 85 | |||||
14,280 | SciClone Pharmaceuticals, Inc. (a) | 72 | ||||||
622 | Tesaro, Inc. (a) | 18 | ||||||
2,975 | ||||||||
Building Products — 2.09% | ||||||||
11,885 | A.O. Smith Corp. | 641 | ||||||
2,300 | Armstrong World Industries, Inc. (a) | 133 | ||||||
33,266 | Griffon Corp. | 439 | ||||||
8,820 | Lennox International, Inc. | 751 | ||||||
15,550 | Masonite International Corp. (a) | 934 | ||||||
4,665 | Trex Co., Inc. (a) | 371 | ||||||
8,868 | Universal Forest Products, Inc. | 462 | ||||||
3,731 | ||||||||
Capital Markets — 0.33% | ||||||||
2,350 | Arlington Asset Investment Corp. | 62 | ||||||
6,270 | BlackRock Kelso Capital Corp. | 58 | ||||||
2,120 | FBR & Co. (a) | 56 | ||||||
13,620 | MCG Capital Corp. | 60 | ||||||
5,815 | Piper Jaffray Cos., Inc. (a) | 230 | ||||||
3,790 | RCS Capital Corp., Class – A | 70 | ||||||
4,060 | WhiteHorse Finance, Inc. | 61 | ||||||
597 | ||||||||
Casinos & Gaming — 0.05% | ||||||||
4,370 | Monarch Casino & Resort, Inc. (a) | 88 | ||||||
Coal & Consumable Fuels — 0.22% | ||||||||
3,402 | Cloud Peak Energy, Inc. (a) | 61 | ||||||
3,850 | CONSOL Energy, Inc. | 146 | ||||||
7,805 | Hallador Energy Co. | 63 | ||||||
70,010 | KiOR, Inc., Class – A (a) | 118 | ||||||
388 | ||||||||
Commercial Banks — 1.17% | ||||||||
1,900 | 1st Source, Inc. | 61 | ||||||
3,910 | Access National Corp. | 58 | ||||||
2,400 | American National Bankshares, Inc. | 63 | ||||||
1,340 | C&F Financial Corp. | 61 | ||||||
2,960 | Enterprise BanCorp, Inc. | 63 | ||||||
3,640 | Fidelity Southern Corp. | 60 | ||||||
2,670 | Financial Institutions, Inc. | 66 | ||||||
16,765 | First Midwest BanCorp, Inc. | 294 | ||||||
2,580 | Horizon Bancorp | 65 | ||||||
2,960 | Mercantile Bank Corp. | 64 | ||||||
2,370 | Northrim BanCorp | 62 | ||||||
2,530 | S & T BanCorp, Inc. | 64 | ||||||
4,870 | Susquehanna Bancshares, Inc. | 63 | ||||||
7,610 | SVB Financial Group (a) | 798 | ||||||
1,780 | The Bank of Kentucky Financial Corp. | 66 | ||||||
4,000 | TowneBank | 62 | ||||||
3,070 | Univest Corp. of Pennsylvania | 63 | ||||||
1,320 | Wintrust Financial Corp. | 61 | ||||||
2,094 |
Shares | Security Description | Value (000) | ||||||
Commercial Printing — 0.07% | ||||||||
1,200 | Deluxe Corp. | $ | 63 | |||||
3,460 | Ennis, Inc. | 61 | ||||||
124 | ||||||||
Commercial Services & Supplies — 0.10% | ||||||||
3,380 | Courier Corp. | 61 | ||||||
1,580 | Multi-Color Corp. | 60 | ||||||
2,340 | Quad Graphics, Inc. | 63 | ||||||
184 | ||||||||
Commodity Chemicals — 0.49% | ||||||||
1,530 | Axiall Corp. | 73 | ||||||
7,498 | Methanex Corp. | 444 | ||||||
12,310 | Tronox Ltd., Class – A | 284 | ||||||
583 | Westlake Chemical Corp. | 71 | ||||||
872 | ||||||||
Communications Equipment — 0.32% | ||||||||
3,904 | ADTRAN, Inc. | 105 | ||||||
3,410 | BEL Fuse, Inc. CL B | 73 | ||||||
2,650 | Black Box Corp. | 79 | ||||||
3,645 | Ciena Corp. (a) | 87 | ||||||
12,000 | Emulex Corp. (a) | 86 | ||||||
12,042 | Infinera Corp. (a) | 118 | ||||||
480 | ViaSat, Inc. (a) | 30 | ||||||
578 | ||||||||
Computer & Electronics Retail — 0.33% | ||||||||
17,952 | Rent-A-Center, Inc. | 599 | ||||||
Computer Storage & Peripherals — 0.28% | ||||||||
1,951 | Lexmark International, Inc., Class – A | 69 | ||||||
1,895 | Nimble Storage, Inc. (a) | 86 | ||||||
6,119 | QLogic Corp. (a) | 72 | ||||||
5,330 | Synaptics, Inc. (a) | 277 | ||||||
504 | ||||||||
Construction & Engineering — 1.42% | ||||||||
2,440 | AECOM Technology Corp. (a) | 72 | ||||||
2,530 | Jacobs Engineering Group, Inc. (a) | 159 | ||||||
6,500 | KBR, Inc. | 207 | ||||||
13,591 | MasTec, Inc. (a) | 445 | ||||||
22,720 | McDermott International, Inc. (a) | 208 | ||||||
2,936 | MYR Group, Inc. (a) | 74 | ||||||
1,880 | Northwest Pipe Co. (a) | 71 | ||||||
7,790 | Pike Electric Corp. (a) | 82 | ||||||
7,690 | Primoris Services Corp. | 239 | ||||||
10,745 | Quanta Services, Inc. (a) | 339 | ||||||
22,432 | Tutor Perini Corp. (a) | 590 | ||||||
1,540 | URS Corp. | 82 | ||||||
2,568 | ||||||||
Construction & Farm Machinery & Heavy Trucks — 0.86% | ||||||||
29,940 | Meritor, Inc. (a) | 312 | ||||||
4,181 | Miller Industries, Inc. | 78 | ||||||
1,880 | NACCO Industries, Inc., Class – A | 117 | ||||||
3,960 | Titan International, Inc. | 71 |
See accompanying notes to financial statements.
52
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Construction & Farm Machinery & Heavy Trucks (continued) | ||||||||
52,030 | Wabash National Corp. (a) | $ | 643 | |||||
3,555 | WABCO Holdings, Inc. (a) | 332 | ||||||
1,553 | ||||||||
Construction Materials — 0.78% | ||||||||
11,130 | CaesarStone Sdot Yam Ltd. | 553 | ||||||
8,400 | Eagle Materials, Inc. | 650 | ||||||
1,950 | Martin Marietta Materials, Inc. | 195 | ||||||
�� | 1,398 | |||||||
Consumer Electronics — 0.23% | ||||||||
5,144 | Harman International Industries, Inc. | 421 | ||||||
Consumer Finance — 0.37% | ||||||||
1,690 | Cash America International, Inc. | 65 | ||||||
15,608 | EZCORP, Inc., Class – A (a) | 182 | ||||||
9,170 | Green Dot Corp., Class – A (a) | 231 | ||||||
1,500 | Nelnet, Inc., Class – A | 63 | ||||||
3,960 | Nicholas Financial, Inc. | 62 | ||||||
710 | World Acceptance Corp. (a) | 62 | ||||||
665 | ||||||||
Data Processing & Outsourced Services — 1.08% | ||||||||
1,023 | Cass Information Systems, Inc. | 69 | ||||||
3,692 | Convergys Corp. | 78 | ||||||
2,151 | CoreLogic, Inc. (a) | 76 | ||||||
2,612 | CSG Systems International, Inc. | 77 | ||||||
870 | DST Systems, Inc. | 79 | ||||||
8,260 | Global Cash Access Holdings, Inc. (a) | 83 | ||||||
2,303 | Global Payments, Inc. | 150 | ||||||
10,945 | Jack Henry & Associates, Inc. | 647 | ||||||
5,251 | Syntel, Inc. (a) | 478 | ||||||
3,270 | TeleTech Holdings, Inc. (a) | 78 | ||||||
4,970 | VeriFone Systems, Inc. (a) | 133 | ||||||
1,948 | ||||||||
Department Stores — 0.04% | ||||||||
707 | Dillard's, Inc., Class – A | 69 | ||||||
Distributors — 0.04% | ||||||||
4,090 | VOXX International Corp. (a) | 68 | ||||||
Diversified Banks — 0.04% | ||||||||
2,250 | Banco Latinoamericano de Comercio Exterior SA, Class – E | 63 | ||||||
Diversified Chemicals — 0.60% | ||||||||
11,895 | Cabot Corp. | 612 | ||||||
5,146 | FMC Corp. | 388 | ||||||
2,816 | Olin Corp. | 81 | ||||||
1,081 | ||||||||
Diversified Consumer Services — 0.05% | ||||||||
2,450 | Weight Watchers International, Inc. | 81 | ||||||
Diversified Metals & Mining — 0.49% | ||||||||
22,880 | Globe Specialty Metals, Inc. | 412 | ||||||
12,960 | Horsehead Holding Corp. (a) | 210 | ||||||
2,720 | Materion Corp. | 84 |
Shares | Security Description | Value (000) | ||||||
Diversified Metals & Mining (continued) | ||||||||
5,002 | US Silica Holdings, Inc. | $ | 171 | |||||
877 | ||||||||
Diversified Real Estate Activities — 0.04% | ||||||||
2,077 | Coresite Realty Corp. | 67 | ||||||
Diversified Real Estate Investment Trusts — 0.07% | ||||||||
890 | PS Business Parks, Inc. | 68 | ||||||
5,595 | Winthrop Realty Trust, Inc. | 62 | ||||||
130 | ||||||||
Diversified Support Services — 0.26% | ||||||||
7,120 | Intersections, Inc. | 55 | ||||||
8,550 | KAR Auction Services, Inc. | 253 | ||||||
3,850 | Ritchie Bros. Auctioneers, Inc. | 88 | ||||||
570 | UniFirst Corp. | 61 | ||||||
457 | ||||||||
Diversified Telecommunication Services — 0.03% | ||||||||
1,680 | Hawaiian Telcom Holdco, Inc. (a) | 49 | ||||||
Education Services — 0.33% | ||||||||
4,710 | Bridgepoint Education, Inc. (a) | 83 | ||||||
2,794 | Grand Canyon Education, Inc. (a) | 122 | ||||||
14,583 | K12, Inc. (a) | 318 | ||||||
2,270 | Strayer Education, Inc. (a) | 78 | ||||||
601 | ||||||||
Electric Utilities — 0.76% | ||||||||
2,466 | Avista Corp. | 70 | ||||||
15,715 | El Paso Electric Co. | 551 | ||||||
2,900 | Great Plains Energy, Inc. | 70 | ||||||
2,750 | Hawaiian Electric Industries, Inc. | 72 | ||||||
1,362 | IDACORP, Inc. | 71 | ||||||
4,056 | ITC Holdings Corp. | 389 | ||||||
2,231 | Portland General Electric Co. | 67 | ||||||
3,079 | The Empire District Electric Co. | 70 | ||||||
1,360 | ||||||||
Electrical Components & Equipment — 1.80% | ||||||||
3,155 | Acuity Brands, Inc. | 345 | ||||||
4,515 | Anixter International, Inc. | 406 | ||||||
12,857 | Belden, Inc. | 905 | ||||||
13,209 | Brady Corp. | 409 | ||||||
2,148 | Chase Corp. | 76 | ||||||
9,176 | EnerSys | 643 | ||||||
2,710 | General Cable Corp. | 80 | ||||||
2,786 | Hubbell, Inc., Class – B | 303 | ||||||
1,000 | Preformed Line Products Co. | 73 | ||||||
3,240 | ||||||||
Electronic Equipment, Instruments & Components — 1.48% | ||||||||
3,310 | Benchmark Electronics, Inc. (a) | 76 | ||||||
1,950 | Dolby Laboratories, Inc., Class – A (a) | 75 | ||||||
13,229 | DTS, Inc. (a) | 317 | ||||||
6,450 | Itron, Inc. (a) | 267 | ||||||
5,228 | Littelfuse, Inc. | 487 | ||||||
1,005 | Regal-Beloit Corp. | 74 |
See accompanying notes to financial statements.
53
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Electronic Equipment, Instruments & Components (continued) | ||||||||
2,890 | Rofin-Sinar Technologies, Inc. (a) | $ | 78 | |||||
14,512 | Rogers Corp. (a) | 893 | ||||||
4,730 | Sanmina Corp. (a) | 79 | ||||||
6,770 | Universal Display Corp. (a) | 233 | ||||||
5,920 | Vishay Intertechnology, Inc. (a) | 78 | ||||||
2,657 | ||||||||
Electronic Manufacturing Services — 1.08% | ||||||||
42,495 | Flextronics International Ltd. (a) | 330 | ||||||
4,088 | IPG Photonics Corp. (a) | 317 | ||||||
21,375 | Jabil Circuit, Inc. | 373 | ||||||
5,460 | Measurement Specialties, Inc. (a) | 331 | ||||||
1,810 | Plexus Corp. (a) | 78 | ||||||
12,835 | Trimble Navigation Ltd. (a) | 446 | ||||||
8,115 | TTM Technologies, Inc. (a) | 70 | ||||||
1,945 | ||||||||
Environmental & Facilities Services — 0.35% | ||||||||
22,725 | Tetra Tech, Inc. (a) | 636 | ||||||
Food & Staples Retailing — 0.04% | ||||||||
3,660 | Tesco Corp. (a) | 72 | ||||||
Food Products — 0.08% | ||||||||
2,453 | Fresh Del Monte Produce, Inc. | 69 | ||||||
2,880 | John B Sanfilippo & Son, Inc. | 71 | ||||||
140 | ||||||||
Food Retail — 0.55% | ||||||||
9,015 | Casey's General Stores, Inc. | 633 | ||||||
6,780 | Ingles Markets, Inc., Class – A | 184 | ||||||
5,520 | Village Super Market, Inc., Class – A | 171 | ||||||
988 | ||||||||
Footwear — 0.60% | ||||||||
200 | Crocs, Inc. (a) | 3 | ||||||
6,389 | Deckers Outdoor Corp. (a) | 540 | ||||||
15,648 | Wolverine World Wide, Inc. | 531 | ||||||
1,074 | ||||||||
Forest Products — 0.15% | ||||||||
9,000 | Boise Cascade Co. (a) | 265 | ||||||
Gas Utilities — 0.43% | ||||||||
1,330 | Southwest Gas Corp. | 74 | ||||||
16,872 | UGI Corp. | 700 | ||||||
774 | ||||||||
General Merchandise Stores — 0.21% | ||||||||
16,734 | Fred's, Inc., Class – A | 310 | ||||||
9,170 | Gordmans Stores, Inc. | 70 | ||||||
380 | ||||||||
Gold — 0.16% | ||||||||
11,120 | Agnico-Eagle Mines Ltd. | 293 | ||||||
Health Care Distributors — 0.75% | ||||||||
4,230 | MWI Veterinary Supply, Inc. (a) | 721 | ||||||
15,032 | Owens & Minor, Inc. | 550 |
Shares | Security Description | Value (000) | ||||||
Health Care Distributors (continued) | ||||||||
3,430 | PharMerica Corp. (a) | $ | 74 | |||||
1,345 | ||||||||
Health Care Equipment & Supplies — 3.59% | ||||||||
2,795 | Abiomed, Inc. (a) | 75 | ||||||
6,810 | CryoLife, Inc. | 76 | ||||||
42,785 | DexCom, Inc. (a) | 1,514 | ||||||
2,430 | Edwards Lifesciences Corp. (a) | 160 | ||||||
1,780 | Greatbatch, Inc. (a) | 79 | ||||||
2,500 | HeartWare International, Inc. (a) | 235 | ||||||
35,718 | Insulet Corp. (a) | 1,325 | ||||||
6,527 | Neogen Corp. (a) | 298 | ||||||
10,107 | Novadaq Technologies, Inc. (a) | 167 | ||||||
6,611 | Sirona Dental Systems, Inc. (a) | 464 | ||||||
1,495 | STERIS Corp. | 72 | ||||||
23,430 | Symmetry Medical, Inc. (a) | 236 | ||||||
7,217 | The Cooper Cos., Inc. | 894 | ||||||
58,590 | Unilife Corp. (a) | 258 | ||||||
12,150 | West Pharmaceutical Services, Inc. | 596 | ||||||
6,449 | ||||||||
Health Care Providers & Services — 2.33% | ||||||||
15,394 | Acadia Healthcare Co., Inc. (a) | 729 | ||||||
2,270 | Almost Family, Inc. (a) | 73 | ||||||
1,500 | AmSurg Corp. (a) | 69 | ||||||
5,260 | Catamaran Corp. (a) | 250 | ||||||
7,357 | Chemed Corp. | 564 | ||||||
1,750 | Community Health Systems, Inc. (a) | 69 | ||||||
14,880 | Five Star Quality Care, Inc. (a) | 82 | ||||||
1,960 | HealthSouth Corp. | 65 | ||||||
3,550 | Kindred Healthcare, Inc. | 70 | ||||||
2,900 | LHC Group, Inc. (a) | 70 | ||||||
14,562 | LifePoint Hospitals, Inc. (a) | 768 | ||||||
7,340 | MEDNAX, Inc. (a) | 392 | ||||||
1,161 | National Healthcare Corp. | 63 | ||||||
2,384 | Providence Service Corp. (a) | 61 | ||||||
5,980 | Select Medical Holdings Corp. | 69 | ||||||
15,620 | Skilled Healthcare Group, Inc. (a) | 75 | ||||||
1,550 | The Ensign Group, Inc. | 69 | ||||||
20,506 | VCA Antech, Inc. (a) | 643 | ||||||
4,181 | ||||||||
Health Care Technology — 0.92% | ||||||||
1,730 | athenahealth, Inc. (a) | 233 | ||||||
3,796 | HealthStream, Inc. (a) | 124 | ||||||
15,752 | Medidata Solutions, Inc. (a) | 954 | ||||||
13,680 | Omnicell, Inc. (a) | 349 | ||||||
1,660 | ||||||||
Home Entertainment Software — 0.14% | ||||||||
10,590 | Electronic Arts, Inc. (a) | 243 | ||||||
Homebuilding — 0.11% | ||||||||
4,190 | Meritage Homes Corp. (a) | 201 |
See accompanying notes to financial statements.
54
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Homefurnishing Retail — 0.38% | ||||||||
5,525 | Restoration Hardware Holdings, Inc. (a) | $ | 371 | |||||
15,010 | Select Comfort Corp. (a) | 317 | ||||||
688 | ||||||||
Hotels, Restaurants & Leisure — 0.09% | ||||||||
2,340 | International Speedway Corp., Class – A | 83 | ||||||
5,680 | Marcus Corp. | 76 | ||||||
159 | ||||||||
Household Appliances — 0.49% | ||||||||
2,410 | Helen of Troy Ltd. (a) | 119 | ||||||
1,315 | iRobot Corp. (a) | 46 | ||||||
5,646 | Snap-on, Inc. | 618 | ||||||
1,956 | SodaStream International Ltd. (a) | 97 | ||||||
880 | ||||||||
Household Durables — 0.07% | ||||||||
4,270 | Flexsteel Industries, Inc. | 131 | ||||||
Housewares & Specialties — 0.37% | ||||||||
4,220 | CSS Industries, Inc. | 121 | ||||||
7,740 | Lifetime Brands, Inc. | 122 | ||||||
4,519 | Tupperware Brands Corp. | 427 | ||||||
670 | ||||||||
Human Resource & Employment Services — 0.22% | ||||||||
2,550 | Kelly Services, Inc., Class – A | 64 | ||||||
5,700 | WageWorks, Inc. (a) | 338 | ||||||
402 | ||||||||
Industrial Conglomerates — 0.23% | ||||||||
2,725 | Carlisle Cos., Inc. | 217 | ||||||
4,090 | Kimball International, Inc., Class – B | 61 | ||||||
25 | Seaboard Corp. (a) | 70 | ||||||
1,116 | Standex International Corp. | 70 | ||||||
418 | ||||||||
Industrial Machinery — 2.37% | ||||||||
12,985 | Actuant Corp., Class – A | 476 | ||||||
4,220 | Ampco-Pittsburgh Corp. | 82 | ||||||
3,508 | Briggs & Stratton Corp. | 76 | ||||||
1,863 | Chart Industries, Inc. (a) | 178 | ||||||
1,900 | Dynamic Materials Corp. | 41 | ||||||
10,650 | Harsco Corp. | 299 | ||||||
850 | Hyster-Yale Materials Handling, Inc. | 79 | ||||||
5,930 | IDEX Corp. | 438 | ||||||
8,541 | Kennametal, Inc. | 445 | ||||||
8,853 | Lincoln Electric Holdings, Inc. | 631 | ||||||
51,660 | Mueller Water Products, Inc., Class – A | 484 | ||||||
4,205 | Pall Corp. | 359 | ||||||
1,772 | Pentair Ltd. – Registered | 138 | ||||||
4,746 | Proto Labs, Inc. (a) | 338 | ||||||
3,158 | The ExOne Co. (a) | 191 | ||||||
4,255 |
Shares | Security Description | Value (000) | ||||||
Industrial Real Estate Investment Trusts — 0.19% | ||||||||
5,926 | EastGroup Properties, Inc. | $ | 343 | |||||
Insurance — 0.08% | ||||||||
2,270 | EMC Insurance Group, Inc. | 70 | ||||||
5,943 | Maiden Holdings Ltd. | 65 | ||||||
135 | ||||||||
Integrated Oil & Gas — 0.19% | ||||||||
6,667 | Interoil Corp. (a) | 343 | ||||||
Internet Retail — 0.11% | ||||||||
13,600 | 1-800-FLOWERS.COM, Inc., Class – A (a) | 74 | ||||||
2,274 | Shutterfly, Inc. (a) | 115 | ||||||
189 | ||||||||
Internet Software & Services — 3.16% | ||||||||
6,040 | Akamai Technologies, Inc. (a) | 285 | ||||||
2,720 | Benefitfocus, Inc. (a) | 157 | ||||||
22,780 | Brightcove, Inc. (a) | 322 | ||||||
3,540 | ChannelAdvisor Corp. (a) | 148 | ||||||
21,504 | Cogent Communications Group, Inc. | 869 | ||||||
4,740 | Cornerstone OnDemand, Inc. (a) | 253 | ||||||
2,334 | Cvent, Inc. (a) | 85 | ||||||
6,310 | Demandware, Inc. (a) | 405 | ||||||
11,080 | Dice Holdings, Inc. (a) | 80 | ||||||
15,160 | EarthLink, Inc. | 77 | ||||||
11,618 | Gogo, Inc. (a) | 288 | ||||||
6,450 | Intralinks Holdings, Inc. (a) | 78 | ||||||
1,575 | j2 Global, Inc. | 79 | ||||||
67,400 | Monster Worldwide, Inc. (a) | 481 | ||||||
35,260 | QuinStreet, Inc. (a) | 306 | ||||||
17,040 | Responsys, Inc. (a) | 467 | ||||||
5,794 | Rocket Fuel, Inc. (a) | 356 | ||||||
6,583 | Textura Corp. (a) | 197 | ||||||
3,170 | ValueClick, Inc. (a) | 74 | ||||||
6,140 | Web.com Group, Inc. (a) | 195 | ||||||
2,539 | Wix.com Ltd. (a) | 68 | ||||||
4,590 | Xoom Corp. (a) | 126 | ||||||
4,016 | Yelp, Inc. (a) | 277 | ||||||
5,673 | ||||||||
Investment Banking & Brokerage — 0.54% | ||||||||
2,950 | International Fcstone, Inc. (a) | 55 | ||||||
3,790 | LPL Financial Holdings, Inc. | 178 | ||||||
2,520 | Oppenheimer Holdings, Inc., Class – A | 62 | ||||||
7,098 | Raymond James Financial, Inc. | 371 | ||||||
6,527 | Stifel Financial Corp. (a) | 313 | ||||||
979 | ||||||||
IT Consulting & Other Services — 0.38% | ||||||||
3,770 | Booz Allen Hamilton Holding Corp. | 72 | ||||||
1,054 | CACI International, Inc., Class – A (a) | 77 | ||||||
4,290 | Computer Task Group, Inc. | 82 | ||||||
1,830 | iGATE Corp. (a) | 73 | ||||||
1,550 | Leidos Holdings, Inc. | 72 | ||||||
2,563 | ManTech International Corp., Class – A | 77 |
See accompanying notes to financial statements.
55
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
IT Consulting & Other Services (continued) | ||||||||
2,300 | Science Applications International Corp. | $ | 76 | |||||
11,480 | The Hackett Group, Inc. | 71 | ||||||
2,200 | Unisys Corp. (a) | 74 | ||||||
674 | ||||||||
Leisure Facilities — 0.05% | ||||||||
1,720 | Life Time Fitness, Inc. (a) | 81 | ||||||
Leisure Products — 0.16% | ||||||||
4,460 | Johnson Outdoors, Inc., Class – A | 120 | ||||||
20,338 | Leapfrog Enterprises, Inc. (a) | 162 | ||||||
282 | ||||||||
Life & Health Insurance — 0.67% | ||||||||
22,309 | American Equity Investment Life Holding Co. | 589 | ||||||
1,497 | FBL Financial Group, Inc., Class – A | 67 | ||||||
7,090 | Primerica, Inc. | 304 | ||||||
3,498 | Protective Life Corp. | 177 | ||||||
3,700 | Symetra Financial Corp. | 70 | ||||||
1,207 | ||||||||
Life Sciences Tools & Services — 1.03% | ||||||||
618 | Bio-Rad Laboratories, Inc., Class – A (a) | 76 | ||||||
3,580 | Bruker Biosciences Corp. (a) | 71 | ||||||
4,330 | Cambrex Corp. (a) | 77 | ||||||
1,520 | Charles River Laboratories International, Inc. (a) | 81 | ||||||
4,457 | Fluidigm Corp. (a) | 171 | ||||||
14,350 | Harvard Bioscience, Inc. (a) | 67 | ||||||
1,540 | ICON PLC (a) | 62 | ||||||
4,202 | Illumina, Inc. (a) | 465 | ||||||
11,720 | PAREXEL International Corp. (a) | 529 | ||||||
7,873 | QIAGEN NV (a) | 187 | ||||||
820 | Techne Corp. | 78 | ||||||
1,864 | ||||||||
Machinery — 0.48% | ||||||||
1,520 | American Railcar Industries | 70 | ||||||
7,660 | Columbus McKinnon Corp./NY (a) | 208 | ||||||
5,260 | Hardinge, Inc. | 76 | ||||||
11,830 | ITT Corp. | 513 | ||||||
867 | ||||||||
Managed Health Care — 0.57% | ||||||||
2,420 | Health Net, Inc. (a) | 72 | ||||||
1,020 | Magellan Health Services, Inc. (a) | 61 | ||||||
2,060 | Molina Heathcare, Inc. (a) | 72 | ||||||
3,660 | Triple-S Management Corp., Class – A (a) | 71 | ||||||
10,715 | WellCare Health Plans, Inc. (a) | 754 | ||||||
1,030 | ||||||||
Marine — 0.16% | ||||||||
3,030 | CAI International, Inc. (a) | 71 | ||||||
2,253 | Kirby Corp. (a) | 224 | ||||||
295 |
Shares | Security Description | Value (000) | ||||||
Media — 0.35% | ||||||||
1,750 | AOL, Inc. (a) | $ | 82 | |||||
6,280 | Entercom Communications Corp. (a) | 66 | ||||||
53,295 | Harte-Hanks, Inc. | 416 | ||||||
6,840 | Journal Communications, Inc., Class – A (a) | 64 | ||||||
628 | ||||||||
Metal & Glass Containers — 0.60% | ||||||||
6,546 | AptarGroup, Inc. | 444 | ||||||
23,830 | Berry Plastics Group, Inc. (a) | 567 | ||||||
1,390 | Greif, Inc., Class – A | 73 | ||||||
1,084 | ||||||||
Metals & Mining — 0.08% | ||||||||
1,020 | Kaiser Aluminum Corp. | 72 | ||||||
3,470 | Nn, Inc. | 70 | ||||||
142 | ||||||||
Mortgage Real Estate Investment Trusts — 0.45% | ||||||||
3,668 | AG Mortgage Investment Trust, Inc. | 57 | ||||||
15,630 | Anworth Mortgage Asset Corp. | 66 | ||||||
17,760 | Armour Residential REIT, Inc. | 71 | ||||||
5,602 | Capstead Mortgage Corp. | 68 | ||||||
8,260 | Dynex Capital, Inc. | 66 | ||||||
4,020 | Hatteras Financial Corp. | 66 | ||||||
5,140 | JAVELIN Mortgage Investment Corp. | 72 | ||||||
17,675 | Redwood Trust, Inc. | 342 | ||||||
808 | ||||||||
Movies & Entertainment — 0.49% | ||||||||
10,530 | Imax Corp. (a) | 310 | ||||||
16,270 | Lions Gate Entertainment Corp. | 516 | ||||||
3,150 | Regal Entertainment Group, Class – A | 61 | ||||||
887 | ||||||||
Multi-line Insurance — 0.57% | ||||||||
13,673 | American Financial Group, Inc. | 789 | ||||||
4,910 | HCC Insurance Holdings, Inc. | 227 | ||||||
1,016 | ||||||||
Multiline Retail — 0.04% | ||||||||
2,075 | Big Lots, Inc. (a) | 67 | ||||||
Multi-Sector Holdings — 0.18% | ||||||||
11,171 | Leucadia National Corp. | 317 | ||||||
Multi-Utilities — 0.42% | ||||||||
9,048 | Black Hills Corp. | 475 | ||||||
1,630 | NorthWestern Corp. | 71 | ||||||
3,027 | PNM Resources, Inc. | 73 | ||||||
4,130 | TECO Energy, Inc. | 71 | ||||||
2,050 | Vectren Corp. | 73 | ||||||
763 | ||||||||
Office Real Estate Investment Trusts — 0.46% | ||||||||
4,622 | Alexandria Real Estate Equities, Inc. | 294 | ||||||
4,991 | Brandywine Realty Trust | 70 | ||||||
14,056 | Corporate Office Properties Trust | 334 |
See accompanying notes to financial statements.
56
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Office Real Estate Investment Trusts (continued) | ||||||||
3,150 | CyrusOne, Inc. | $ | 70 | |||||
6,490 | Lexington Realty Trust | 66 | ||||||
834 | ||||||||
Office Services & Supplies — 0.53% | ||||||||
9,380 | ACCO Brands Corp. (a) | 63 | ||||||
43,601 | ARC Document Solutions, Inc. (a) | 358 | ||||||
9,975 | Herman Miller, Inc. | 294 | ||||||
3,710 | Sykes Enterprises, Inc. (a) | 81 | ||||||
2,256 | United Stationers, Inc. | 104 | ||||||
2,280 | West Corp. | 59 | ||||||
959 | ||||||||
Oil & Gas Drilling — 0.60% | ||||||||
17,723 | Atwood Oceanics, Inc. (a) | 947 | ||||||
2,810 | Patterson-UTI Energy, Inc. | 71 | ||||||
1,340 | Unit Corp. (a) | 69 | ||||||
1,087 | ||||||||
Oil & Gas Equipment & Services — 0.86% | ||||||||
2,870 | C&J Energy Services, Inc. (a) | 66 | ||||||
2,120 | Dawson Geophysical Co. (a) | 72 | ||||||
4,001 | Dril-Quip, Inc. (a) | 440 | ||||||
1,443 | Geospace Technologies Corp. (a) | 137 | ||||||
11,465 | Helix Energy Solutions Group, Inc. (a) | 266 | ||||||
5,540 | Newpark Resources, Inc. (a) | 68 | ||||||
18,494 | Superior Energy Services, Inc. (a) | 492 | ||||||
1,541 | ||||||||
Oil & Gas Exploration & Production — 1.48% | ||||||||
8,149 | Bill Barrett Corp. (a) | 218 | ||||||
4,140 | Bonanza Creek Energy, Inc. (a) | 180 | ||||||
12,552 | Cabot Oil & Gas Corp. | 487 | ||||||
18,520 | Carrizo Oil & Gas, Inc. (a) | 829 | ||||||
4,084 | Continental Resources, Inc. (a) | 460 | ||||||
2,610 | Energy XXI (Bermuda) Ltd. | 71 | ||||||
6,113 | Goodrich Petroleum Corp. (a) | 104 | ||||||
1,528 | Gulfport Energy Corp. (a) | 96 | ||||||
1,316 | PDC Energy, Inc. (a) | 70 | ||||||
4,350 | W&T Offshore, Inc. | 70 | ||||||
21,060 | Warren Resources, Inc. (a) | 66 | ||||||
2,651 | ||||||||
Oil & Gas Refining & Marketing — 0.48% | ||||||||
1,780 | CVR Energy, Inc. | 77 | ||||||
2,220 | Delek US Holdings, Inc. | 76 | ||||||
3,920 | Green Plains Renewable Energy, Inc. | 76 | ||||||
2,270 | PBF Energy, Inc. | 71 | ||||||
9,749 | Rex Energy Corp. (a) | 192 | ||||||
1,740 | Western Refining, Inc. | 74 | ||||||
6,743 | World Fuel Services Corp. | 292 | ||||||
858 | ||||||||
Oil & Gas Storage & Transportation — 0.04% | ||||||||
4,230 | Ship Finance International Ltd. | 69 |
Shares | Security Description | Value (000) | ||||||
Oil, Gas & Consumable Fuels — 0.29% | ||||||||
1,100 | Adams Resources & Energy, Inc. | $ | 75 | |||||
2,590 | EPL Oil & Gas, Inc. (a) | 74 | ||||||
48,900 | SandRidge Energy, Inc. (a) | 297 | ||||||
2,120 | Stone Energy Corp. (a) | 73 | ||||||
519 | ||||||||
Packaged Foods & Meats — 0.37% | ||||||||
9,270 | Boulder Brands, Inc. (a) | 147 | ||||||
1,270 | Cal-Maine Foods, Inc. | 76 | ||||||
6,405 | Ingredion, Inc. | 439 | ||||||
662 | ||||||||
Paper & Forest Products — 0.04% | ||||||||
820 | Domtar Corp. | 77 | ||||||
Paper Packaging — 0.13% | ||||||||
3,607 | Packaging Corp. of America | 228 | ||||||
Paper Products — 0.08% | ||||||||
1,680 | Neenah Paper, Inc. | 72 | ||||||
2,570 | P.H. Glatfelter Co. | 71 | ||||||
143 | ||||||||
Personal Products — 0.11% | ||||||||
2,240 | Nature's Sunshine Products, Inc. | 39 | ||||||
1,550 | Nutraceutical International Corp. (a) | 42 | ||||||
2,290 | Prestige Brands Holdings, Inc. (a) | 82 | ||||||
520 | USANA Health Sciences, Inc. (a) | 39 | ||||||
202 | ||||||||
Pharmaceuticals — 0.53% | ||||||||
2,070 | Actavis, Inc. PLC (a) | 347 | ||||||
2,377 | Aegerion Pharmaceuticals, Inc. (a) | 169 | ||||||
3,577 | Auxilium Pharmaceuticals, Inc. (a) | 74 | ||||||
8,310 | Cornerstone Therapeutics, Inc. (a) | 79 | ||||||
1,709 | Hi-Tech Pharmacal Co., Inc. (a) | 74 | ||||||
2,947 | Impax Laboratories, Inc. (a) | 74 | ||||||
7,330 | POZEN, Inc. | 59 | ||||||
2,112 | The Medicines Co. (a) | 82 | ||||||
958 | ||||||||
Property & Casualty Insurance — 1.57% | ||||||||
1,569 | Alleghany Corp. (a) | 628 | ||||||
20,366 | Argo Group International Holdings Ltd. | 947 | ||||||
18,130 | Aspen Insurance Holdings Ltd. | 749 | ||||||
2,260 | Stewart Information Services Corp. | 73 | ||||||
5,690 | Universal Insurance Holdings, Inc. | 82 | ||||||
8,421 | W.R. Berkley Corp. | 365 | ||||||
2,844 | ||||||||
Publishing — 0.21% | ||||||||
2,237 | Scholastic Corp. | 76 | ||||||
2,725 | Shutterstock, Inc. (a) | 228 | ||||||
2,150 | Valassis Communications, Inc. | 74 | ||||||
378 | ||||||||
Railroads — 0.12% | ||||||||
1,668 | Kansas City Southern Industries | 207 |
See accompanying notes to financial statements.
57
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Real Estate Investment Trusts (REITs) — 0.37% | ||||||||
3,650 | American Capital Mortgage Investment Corp. | $ | 64 | |||||
11,900 | Ares Commercial Real Estate Corp. | 155 | ||||||
3,410 | Ashford Hospitality Prime, Inc. | 62 | ||||||
8,350 | Ashford Hospitality Trust | 69 | ||||||
11,190 | Cedar Realty Trust, Inc. | 70 | ||||||
9,040 | CYS Investments, Inc. | 67 | ||||||
4,290 | Ellington Residential Mortgage REIT | 66 | ||||||
4,023 | Invesco Mortgage Capital | 59 | ||||||
4,070 | Western Asset Mortgage Capital Corp. | 61 | ||||||
673 | ||||||||
Real Estate Management & Development — 0.00% | ||||||||
162 | RE/MAX Holdings, Inc., Class – A (a) | 5 | ||||||
Regional Banks — 4.55% | ||||||||
27,500 | BancorpSouth, Inc. | 699 | ||||||
36,177 | BBCN Bancorp, Inc. | 600 | ||||||
1,460 | Camden National Corp. | 62 | ||||||
70,064 | CapitalSource, Inc. | 1,007 | ||||||
1,612 | Century Bancorp, Inc., Class – A | 54 | ||||||
23,788 | Columbia Banking System, Inc. | 654 | ||||||
13,241 | Cullen/Frost Bankers, Inc. | 986 | ||||||
3,530 | First Bancorp, Inc. Maine | 61 | ||||||
280 | First Citizens BancShares, Inc., Class – A | 62 | ||||||
3,640 | First Community Bancshares, Inc. | 61 | ||||||
2,220 | First Interstate BancSystem, Inc. | 63 | ||||||
2,180 | Great Southern Bancorp, Inc. | 66 | ||||||
2,070 | Heartland Financial USA, Inc. | 60 | ||||||
2,380 | International Bancshares Corp. | 63 | ||||||
3,710 | MainSource Financial Group, Inc. | 67 | ||||||
93,044 | National Penn Bancshares, Inc. | 1,053 | ||||||
2,430 | NBT Bancorp, Inc. | 63 | ||||||
2,730 | Peoples Bancorp, Inc. | 61 | ||||||
13,812 | Popular, Inc. (a) | 397 | ||||||
2,590 | Republic Bancorp, Inc., Class – A | 64 | ||||||
101,000 | Synovus Financial Corp. | 364 | ||||||
62,745 | TCF Financial Corp. | 1,020 | ||||||
16,697 | Webster Financial Corp. | 521 | ||||||
1,990 | WesBanco, Inc. | 64 | ||||||
8,172 | ||||||||
Reinsurance — 0.24% | ||||||||
2,724 | Everest Re Group Ltd. | 425 | ||||||
Research and Consulting Services — 0.27% | ||||||||
6,530 | CBIZ, Inc. (a) | 60 | ||||||
1,740 | ICF International, Inc. (a) | 60 | ||||||
17,770 | RPX Corp. (a) | 300 | ||||||
1,230 | VSE Corp. | 59 | ||||||
479 | ||||||||
Residential Real Estate Investment Trusts — 0.43% | ||||||||
4,109 | Associated Estates Realty Corp. | 66 | ||||||
1,792 | Equity Lifestyle Properties, Inc. | 65 |
Shares | Security Description | Value (000) | ||||||
Residential Real Estate Investment Trusts (continued) | ||||||||
10,540 | Mid-America Apartment Communities, Inc. | $ | 640 | |||||
771 | ||||||||
Restaurants — 0.90% | ||||||||
1,500 | Bob Evans Farms, Inc. | 76 | ||||||
4,980 | Buffalo Wild Wings, Inc. (a) | 732 | ||||||
1,780 | CEC Entertainment, Inc. | 79 | ||||||
2,887 | Chuy's Holdings, Inc. (a) | 104 | ||||||
5,748 | Del Frisco's Restaurant Group, Inc. (a) | 135 | ||||||
5,220 | Einstein Noah Restaurant Group, Inc. | 76 | ||||||
3,398 | Fiesta Restaurant Group, Inc. (a) | 178 | ||||||
12,374 | Krispy Kreme Doughnuts, Inc. (a) | 239 | ||||||
1,619 | ||||||||
Retail Real Estate Investment Trusts — 0.11% | ||||||||
3,730 | CBL & Associates Properties, Inc. | 67 | ||||||
3,502 | Pennsylvania Real Estate Investment Trust | 66 | ||||||
4,449 | Ramco-Gershenson Properties Trust | 70 | ||||||
203 | ||||||||
Security & Alarm Services — 0.03% | ||||||||
1,810 | The Brink's Co. | 62 | ||||||
Semiconductor Equipment — 1.02% | ||||||||
6,664 | Advanced Energy Industries, Inc. (a) | 152 | ||||||
12,730 | Amkor Technology, Inc. (a) | 78 | ||||||
3,193 | Cabot Microelectronics Corp. (a) | 146 | ||||||
5,939 | Entegris, Inc. (a) | 69 | ||||||
5,696 | FEI Co. | 509 | ||||||
15,980 | SunEdison, Inc. (a) | 209 | ||||||
3,801 | Teradyne, Inc. (a) | 67 | ||||||
8,940 | Tessera Technologies, Inc. | 176 | ||||||
14,590 | Ultratech, Inc. (a) | 423 | ||||||
1,829 | ||||||||
Semiconductors — 3.24% | ||||||||
9,750 | Alpha & Omega Semiconductor Ltd. (a) | 75 | ||||||
6,744 | Altera Corp. | 219 | ||||||
12,865 | Applied Micro Circuits Corp. (a) | 172 | ||||||
57,971 | Cypress Semiconductor Corp. | 609 | ||||||
24,661 | Diodes, Inc. (a) | 581 | ||||||
27,316 | Fairchild Semiconductor International, Inc. (a) | 365 | ||||||
5,903 | Integrated Silicon Solution, Inc. (a) | 71 | ||||||
21,212 | International Rectifier Corp. (a) | 553 | ||||||
5,730 | IXYS Corp. | 74 | ||||||
10,832 | Maxim Integrated Products, Inc. | 302 | ||||||
8,996 | Microsemi Corp. (a) | 224 | ||||||
20,518 | Monolithic Power Systems, Inc. (a) | 712 | ||||||
31,402 | ON Semiconductor Corp. (a) | 259 | ||||||
6,365 | Power Integrations, Inc. | 355 | ||||||
3,133 | Silicon Laboratories, Inc. (a) | 136 | ||||||
24,212 | Skyworks Solutions, Inc. (a) | 692 | ||||||
5,314 | Spansion, Inc., Class – A (a) | 74 | ||||||
41,270 | TriQuint Semiconductor, Inc. (a) | 344 | ||||||
5,817 |
See accompanying notes to financial statements.
58
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Semiconductors & Semiconductor Equipment — 0.27% | ||||||||
22,470 | Atmel Corp. (a) | $ | 176 | |||||
16,420 | Integrated Device Technology, Inc. (a) | 167 | ||||||
4,290 | OmniVision Technologies, Inc. (a) | 74 | ||||||
7,860 | Photronics, Inc. (a) | 71 | ||||||
488 | ||||||||
Soft Drinks — 0.04% | ||||||||
903 | Coca-Cola Bottling Co. Consolidated | 66 | ||||||
Software — 0.19% | ||||||||
12,600 | Fortinet, Inc. (a) | 241 | ||||||
1,400 | SeaChange International, Inc. (a) | 17 | ||||||
36,280 | Telecommunication Systems, Inc. (a) | 84 | ||||||
342 | ||||||||
Specialized Consumer Services — 0.42% | ||||||||
2,750 | Hillenbrand, Inc. | 81 | ||||||
9,235 | LifeLock, Inc. (a) | 152 | ||||||
10,760 | Matthews International Corp., Class – A | 458 | ||||||
970 | Outerwall, Inc. (a) | 65 | ||||||
756 | ||||||||
Specialized Finance — 0.41% | ||||||||
2,470 | Interactive Brokers Group, Inc., Class – A | 60 | ||||||
19,072 | PHH Corp. (a) | 465 | ||||||
4,040 | Portfolio Recovery Associates, Inc. (a) | 213 | ||||||
738 | ||||||||
Specialized Real Estate Investment Trusts — 0.38% | ||||||||
37,924 | DiamondRock Hospitality Co. | 438 | ||||||
2,210 | LaSalle Hotel Properties | 68 | ||||||
4,271 | Potlatch Corp. | 178 | ||||||
684 | ||||||||
Specialty Chemicals — 1.01% | ||||||||
2,219 | A. Schulman, Inc. | 78 | ||||||
4,972 | Albemarle Corp. | 315 | ||||||
2,250 | Celanese Corp., Series A, Series A | 124 | ||||||
4,550 | FutureFuel Corp. | 72 | ||||||
5,490 | H.B. Fuller Co. | 286 | ||||||
18,000 | Kraton Performance Polymers, Inc. (a) | 415 | ||||||
1,318 | NewMarket Corp. | 441 | ||||||
1,221 | Stepan Co. | 80 | ||||||
1,811 | ||||||||
Specialty Retail — 0.15% | ||||||||
3,700 | Big 5 Sporting Goods Corp. | 73 | ||||||
9,335 | Flotek Industries, Inc. (a) | 188 | ||||||
261 | ||||||||
Specialty Stores — 0.81% | ||||||||
11,659 | Cabela's, Inc., Class – A (a) | 777 | ||||||
495 | Five Below, Inc. (a) | 21 | ||||||
8,583 | Tractor Supply Co. | 666 | ||||||
1,464 |
Shares | Security Description | Value (000) | ||||||
Steel — 0.68% | ||||||||
10,590 | Allegheny Technologies, Inc. | $ | 377 | |||||
6,946 | Carpenter Technology Corp. | 433 | ||||||
2,461 | Olympic Steel, Inc. | 71 | ||||||
10,165 | Schnitzer Steel Industries, Inc., Class – A | 332 | ||||||
1,213 | ||||||||
Systems Software — 0.95% | ||||||||
8,271 | Fleetmatics Group Ltd. (a) | 358 | ||||||
2,376 | Gigamon, Inc. (a) | 67 | ||||||
9,459 | Infoblox, Inc. (a) | 312 | ||||||
3,418 | NetSuite, Inc. (a) | 352 | ||||||
1,822 | Rally Software Development Corp. (a) | 35 | ||||||
26,569 | Rovi Corp. (a) | 524 | ||||||
3,819 | Walker & Dunlop, Inc. (a) | 62 | ||||||
1,710 | ||||||||
Technology Distributors — 0.80% | ||||||||
29,035 | Ingram Micro, Inc. (a) | 680 | ||||||
23,719 | Insight Enterprises, Inc. (a) | 539 | ||||||
3,120 | PC Connection, Inc. | 78 | ||||||
1,110 | SYNNEX Corp. (a) | 75 | ||||||
1,418 | Tech Data Corp. (a) | 73 | ||||||
1,445 | ||||||||
Thrifts & Mortgage Finance — 0.60% | ||||||||
4,430 | Apollo Residential Mortgage, Inc. | 65 | ||||||
3,385 | �� | Bofl Holding, Inc. (a) | 266 | |||||
1,780 | Federal Agricultural Mortgage Corp., Class – C | 61 | ||||||
2,380 | First Defiance Financial Corp. | 62 | ||||||
5,600 | First Niagara Financial Group, Inc. | 59 | ||||||
2,920 | HomeStreet, Inc. | 58 | ||||||
24,025 | MGIC Investment Corp. (a) | 203 | ||||||
4,060 | Provident Financial Holdings | 61 | ||||||
3,245 | WSFS Financial Corp. | 252 | ||||||
1,087 | ||||||||
Tobacco — 0.04% | ||||||||
1,370 | Universal Corp. | 75 | ||||||
Trading Companies & Distributors — 1.17% | ||||||||
3,624 | Aircastle Ltd. | 69 | ||||||
10,805 | Applied Industrial Technologies, Inc. | 529 | ||||||
5,982 | GATX Corp. | 312 | ||||||
6,100 | Houston Wire & Cable Co. | 82 | ||||||
16,230 | MRC Global, Inc. (a) | 524 | ||||||
1,337 | TAL International Group, Inc. | 77 | ||||||
1,830 | Textainer Group Holdings Ltd. | 74 | ||||||
4,502 | Watsco, Inc. | 432 | ||||||
2,099 | ||||||||
Trucking — 0.33% | ||||||||
300 | AMERCO, Inc. (a) | 71 | ||||||
11,257 | Con-way, Inc. | 447 | ||||||
1,010 | Ryder System, Inc. | 75 | ||||||
593 |
See accompanying notes to financial statements.
59
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Wireless Telecommunication Services — 0.47% | ||||||||
148,337 | NII Holdings, Inc. (a) | $ | 407 | |||||
2,350 | NTELOS Holding Corp. | 48 | ||||||
3,180 | SBA Communications Corp., Class – A (a) | 286 | ||||||
1,860 | Telephone & Data Systems, Inc. | 48 | ||||||
3,480 | USA Mobility, Inc. | 50 | ||||||
839 | ||||||||
Total Common Stocks | 147,214 | |||||||
Time Deposit — 2.36% | ||||||||
$4,239 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/14 | 4,239 | ||||||
Total Time Deposit | 4,239 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Mutual Funds — 15.67% | ||||||||
28,095,537 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (b) | $ | 28,096 | |||||
55,044 | SSgA Prime Money Market Fund, 0.00% (b) | 55 | ||||||
1,104 | SSgA Treasury Money Market Fund, 0.00% (b) | 1 | ||||||
Total Mutual Funds | 28,152 | |||||||
Total Investments (cost $129,652) — 99.96% | 179,605 | |||||||
Other assets in excess of liabilities — 0.04% | 76 | |||||||
Net Assets — 100.00% | $ | 179,681 |
(a) | Represents non-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2013. |
ADR — American Depositary Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of the total net assets of the Portfolio attributable to each Specialist Manager, see Note 3 in the Notes to Financial Statements.
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio | Cupps Capital Management, LLC | Frontier Capital Management Company, LLC | IronBridge Capital Management LP | Mellon Capital Management Corporation | Pzena Investment Management, LLC | Total | ||||||||||||||||||
Common Stocks | 6.54 | % | 25.76 | % | 24.10 | % | 13.97 | % | 11.56 | % | 81.93 | % | ||||||||||||
Time Deposit | — | 1.52 | % | 0.45 | % | — | 0.39 | % | 2.36 | % | ||||||||||||||
Mutual Funds | 0.03 | % | — | -— | 15.64 | % | — | 15.67 | % | |||||||||||||||
Other Assets (Liabilities) | -0.02 | % | -0.03 | % | 0.01 | % | 0.08 | % | 0.00 | % | 0.04 | % | ||||||||||||
Total Net Assets | 6.55 | % | 27.25 | % | 24.56 | % | 29.69 | % | 11.95 | % | 100.00 | % |
See accompanying notes to financial statements.
60
HC CAPITAL TRUST
The Real Estate Securities Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 98.04% | ||||||||
Capital Markets — 1.93% | ||||||||
110,977 | Gagfah SA (a) | $ | 1,633 | |||||
114,952 | Retail Opportunity Investments Corp. | 1,692 | ||||||
3,325 | ||||||||
Diversified Real Estate Activities — 1.08% | ||||||||
44,730 | Alexander & Baldwin, Inc. | 1,867 | ||||||
Diversified Real Estate Investment Trusts — 5.48% | ||||||||
90,255 | American Assets Trust, Inc. | 2,837 | ||||||
166,558 | Cousins Properties, Inc. | 1,716 | ||||||
78,361 | Excel Trust, Inc. | 893 | ||||||
52,190 | PS Business Parks, Inc. | 3,987 | ||||||
9,433 | ||||||||
Drug Retail — 1.54% | ||||||||
37,135 | CVS Caremark Corp. | 2,658 | ||||||
Health Care Providers & Services — 4.05% | ||||||||
113,010 | HCA Holdings, Inc. (a) | 5,392 | ||||||
19,462 | Universal Health Services, Inc. | 1,581 | ||||||
6,973 | ||||||||
Homebuilding — 0.31% | ||||||||
25,813 | PulteGroup, Inc. | 526 | ||||||
Hotels, Resorts & Cruise Lines — 2.96% | ||||||||
12,602 | Marriott International, Inc. | 622 | ||||||
60,686 | Wyndham Worldwide Corp. | 4,472 | ||||||
5,094 | ||||||||
Hotels, Restaurants & Leisure — 2.82% | ||||||||
17,000 | Extended Stay America, Inc. (a) | 446 | ||||||
55,544 | Starwood Hotels & Resorts Worldwide, Inc. | 4,413 | ||||||
4,859 | ||||||||
Industrial Real Estate Investment Trusts — 4.82% | ||||||||
60,072 | EastGroup Properties, Inc. | 3,480 | ||||||
222,593 | First Industrial Realty Trust, Inc. | 3,884 | ||||||
45,858 | STAG Industrial, Inc. | 935 | ||||||
8,299 | ||||||||
Office Real Estate Investment Trusts — 12.38% | ||||||||
63,929 | Boston Properties, Inc. | 6,417 | ||||||
204,500 | Douglas Emmett, Inc. | 4,763 | ||||||
54,070 | Kilroy Realty Corp. | 2,713 | ||||||
80,191 | SL Green Realty Corp. | 7,408 | ||||||
21,301 | ||||||||
Real Estate Management & Development — 0.94% | ||||||||
72,419 | Kennedy-Wilson Holdings, Inc. | 1,611 | ||||||
Real Estate Operating Companies — 3.40% | ||||||||
305,926 | Forest City Enterprises, Inc., Class – A (a) | 5,843 |
Shares | Security Description | Value (000) | ||||||
Residential Real Estate Investment Trusts — 16.88% | ||||||||
80,364 | AvalonBay Communities, Inc. | $ | 9,501 | |||||
67,520 | Camden Property Trust | 3,841 | ||||||
116,572 | Equity Lifestyle Properties, Inc. | 4,223 | ||||||
67,264 | Essex Property Trust, Inc. | 9,653 | ||||||
75,489 | RLJ Lodging Trust | 1,836 | ||||||
29,054 | ||||||||
Retail Real Estate Investment Trusts — 20.29% | ||||||||
65,510 | Acadia Realty Trust | 1,627 | ||||||
226,950 | DDR Corp. | 3,488 | ||||||
443,197 | General Growth Properties, Inc. | 8,895 | ||||||
127,529 | Kite Realty Group Trust | 838 | ||||||
102,964 | Simon Property Group, Inc. | 15,667 | ||||||
68,725 | Taubman Centers, Inc. | 4,393 | ||||||
34,908 | ||||||||
Specialized Real Estate Investment Trusts — 17.62% | ||||||||
32,319 | American Tower Corp. | 2,580 | ||||||
61,617 | Extra Space Storage, Inc. | 2,596 | ||||||
181,587 | Health Care REIT, Inc. | 9,728 | ||||||
98,917 | Healthcare Trust of America, Inc., Class – A | 973 | ||||||
58,972 | Public Storage | 8,876 | ||||||
80,610 | Rayonier, Inc. | 3,394 | ||||||
162,999 | Sunstone Hotel Investors, Inc. | 2,184 | ||||||
30,331 | ||||||||
Wireless Telecommunication Services — 1.54% | ||||||||
29,458 | SBA Communications Corp., Class – A (a) | 2,647 | ||||||
Total Common Stocks | 168,729 | |||||||
Mutual Fund — 1.47% | ||||||||
2,528,177 | DWS Government Cash Money Market Fund, 0.03% (b) | 2,528 | ||||||
Total Mutual Fund | 2,528 | |||||||
Total Investments (cost $171,476) — 99.51% | 171,257 | |||||||
Other assets in excess of liabilities — 0.49% | 835 | |||||||
Net Assets — 100.00% | $ | 172,092 |
(a) | Represents non-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2013. |
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
61
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 62.82% | ||||||||
Australia — 3.21% | ||||||||
156,584 | Alumina Ltd. (Aluminum) (a) | $ | 156 | |||||
77,830 | Amcor Ltd. (Paper Packaging) | 733 | ||||||
3,823,045 | Beach Energy Ltd. (Oil & Gas Exploration & Production) | 4,881 | ||||||
189,010 | BHP Billiton Ltd. (Diversified Metals & Mining) | 6,411 | ||||||
49,638 | Boral Ltd. (Construction Materials) | 211 | ||||||
8,629 | Caltex Australia Ltd. (Oil & Gas Refining & Marketing) | 154 | ||||||
1,337,647 | Fortescue Metals Group Ltd. (Steel) | 6,950 | ||||||
26,646 | Iluka Resources Ltd. (Diversified Metals & Mining) | 205 | ||||||
102,606 | Incitec Pivot Ltd. (Fertilizers & Agricultural Chemicals) | 245 | ||||||
2,395,623 | Medusa Mining Ltd. (Gold) (a) | 4,362 | ||||||
45,328 | Newcrest Mining Ltd. (Gold) | 316 | ||||||
23,762 | Orica Ltd. (Commodity Chemicals) | 506 | ||||||
70,564 | Origin Energy Ltd. (Integrated Oil & Gas) | 886 | ||||||
77,830 | Orora Ltd. (Containers & Packaging) (a) | 81 | ||||||
28,508 | Rio Tinto Ltd. (Diversified Metals & Mining) | 1,735 | ||||||
62,049 | Santos Ltd. (Oil & Gas Exploration & Production) | 810 | ||||||
1,793,215 | Western Areas Ltd. (Diversified Metals & Mining) (a) | 3,794 | ||||||
42,513 | Woodside Petroleum Ltd. (Oil & Gas Exploration & Production) | 1,477 | ||||||
13,207 | WorleyParsons Ltd. (Oil & Gas Equipment & Services) | 196 | ||||||
34,109 | ||||||||
Austria — 0.13% | ||||||||
18,115 | OMV AG (Integrated Oil & Gas) | 867 | ||||||
11,766 | Voestalpine AG (Steel) | 565 | ||||||
1,432 | ||||||||
Belgium — 0.12% | ||||||||
5,673 | Solvay SA (Diversified Chemicals) | 897 | ||||||
7,257 | Umicore SA (Specialty Chemicals) | 339 | ||||||
1,236 | ||||||||
Bermuda — 0.16% | ||||||||
206,000 | Kunlun Energy Co. Ltd. (Oil & Gas Exploration & Production) | 363 | ||||||
18,500 | Nabors Industries Ltd. (Oil & Gas Drilling) | 314 | ||||||
98,000 | Nine Dragons Paper Holdings Ltd. (Paper Products) | 85 | ||||||
24,213 | Seadrill Ltd. (Oil & Gas Drilling) | 989 | ||||||
1,751 | ||||||||
Brazil — 0.85% | ||||||||
48,000 | Companhia Siderurgica Nacional SA (CSN) (Steel) | 293 | ||||||
7,713 | Cosan SA Industria e Comercio (Oil & Gas Refining & Marketing) | 129 | ||||||
18,070 | Duratex SA (Forest Products) | 101 | ||||||
15,600 | Fibria Celulose SA (Paper Products) (a) | 183 | ||||||
195,212 | Petroleo Brasileiro SA (Integrated Oil & Gas) | 1,323 | ||||||
354,639 | Petroleo Brasileiro SA – Sponsored ADR (Integrated Oil & Gas) | 4,886 |
Shares | Security Description | Value (000) | ||||||
Brazil (continued) | ||||||||
16,919 | Tupras-Turkiye Petrol Rafinerileri AS (Oil & Gas Refining & Marketing) | $ | 339 | |||||
20,903 | Ultrapar Participacoes SA (Oil & Gas Storage & Transportation) | 496 | ||||||
83,710 | Vale SA (Steel) | 1,267 | ||||||
9,017 | ||||||||
Canada — 8.36% | ||||||||
10,900 | Agnico-Eagle Mines Ltd. (Gold) | 288 | ||||||
9,587 | Agrium, Inc. (Fertilizers & Agricultural Chemicals) | 877 | ||||||
7,400 | AltaGas Ltd. (Oil & Gas Storage & Transportation) | 284 | ||||||
19,800 | ARC Resources Ltd. (Oil & Gas Exploration & Production) | 551 | ||||||
20,495 | Athabasca Oil Corp. (Integrated Oil & Gas) (a) | 125 | ||||||
51,372 | Barrick Gold Corp. (Gold) | 906 | ||||||
325,299 | Barrick Gold Corp. (Gold) | 5,730 | ||||||
7,800 | Baytex Energy Corp. (Oil & Gas Exploration & Production) | 306 | ||||||
25,300 | Cameco Corp. (Coal & Consumable Fuels) | 525 | ||||||
187,469 | Canadian Natural Resources Ltd. (Oil & Gas Exploration & Production) | 6,344 | ||||||
31,400 | Canadian Oil Sands Ltd. (Oil & Gas Exploration & Production) | 591 | ||||||
48,714 | Cenovus Energy, Inc. (Integrated Oil & Gas) | 1,394 | ||||||
24,377 | Crescent Point Energy Corp. (Oil & Gas Exploration & Production) | 947 | ||||||
45,704 | Eldorado Gold Corp. (Gold) | 259 | ||||||
269,535 | Enbridge, Inc. (Oil & Gas Storage & Transportation) | 11,774 | ||||||
58,411 | Enbridge, Inc. (Oil & Gas Storage & Transportation) | 2,552 | ||||||
110,469 | Encana Corp. (Oil & Gas Exploration & Production) | 1,994 | ||||||
66,567 | EnCana Corp. (Oil & Gas Exploration & Production) | 1,202 | ||||||
12,600 | Enerplus Corp. (Oil & Gas Exploration & Production) | 229 | ||||||
588,860 | First Quantum Minerals Ltd. (Diversified Metals & Mining) | 10,612 | ||||||
9,440 | Franco-Nevada Corp. (Gold) | 385 | ||||||
50,553 | Goldcorp, Inc. (Gold) | 1,097 | ||||||
22,015 | Husky Energy, Inc. (Integrated Oil & Gas) | 699 | ||||||
264,826 | Imperial Oil Ltd. (Integrated Oil & Gas) | 11,713 | ||||||
19,060 | Imperial Oil Ltd. (Integrated Oil & Gas) | 844 | ||||||
5,000 | Keyera Corp. (Oil & Gas Refining & Marketing) | 301 | ||||||
72,521 | Kinross Gold Corp. (Gold) | 318 | ||||||
248,470 | Meg Energy Corp. (Oil & Gas Exploration & Production) (a) | 7,162 | ||||||
6,600 | Methanex Corp. (Commodity Chemicals) | 390 | ||||||
717,867 | New Gold, Inc. (Gold) (a) | 3,762 | ||||||
29,850 | New Gold, Inc. (Gold) (a) | 156 | ||||||
19,498 | Pacific Rubiales Energy Corp. (Oil & Gas Exploration & Production) | 337 | ||||||
18,869 | Pembina Pipelines Corp. (Oil & Gas Storage & Transportation) | 665 |
See accompanying notes to financial statements.
62
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Canada (continued) | ||||||||
32,858 | Pengrowth Energy Corp. (Oil & Gas Exploration & Production) | $ | 203 | |||||
30,800 | Penn West Petroleum Ltd. (Oil & Gas Exploration & Production) | 257 | ||||||
9,000 | Peyto Exploration & Development Corp. (Oil & Gas Exploration & Production) | 275 | ||||||
59,846 | Potash Corp. of Saskatchewan, Inc. (Fertilizers & Agricultural Chemicals) | 1,973 | ||||||
22,851 | Silver Wheaton Corp. (Precious Metals & Minerals) | 461 | ||||||
106,898 | Suncor Energy, Inc. (Integrated Oil & Gas) | 3,748 | ||||||
65,886 | Talisman Energy, Inc. (Oil & Gas Exploration & Production) | 766 | ||||||
37,097 | Teck Cominco Ltd., Class – B (Diversified Metals & Mining) | 966 | ||||||
9,851 | Tourmaline Oil Corp. (Oil & Gas Exploration & Production) (a) | 415 | ||||||
49,400 | TransCanada Corp. (Multi-Utilities) | 2,258 | ||||||
25,153 | Turquoise Hill Resources Ltd. (Diversified Metals & Mining) (a) | 83 | ||||||
258,748 | Uranium Participation Corp. (Asset Management & Custody Banks) (a) | 1,376 | ||||||
6,000 | Vermilion Energy, Inc. (Oil & Gas Exploration & Production) | 352 | ||||||
48,100 | Yamana Gold, Inc. (Gold) | 415 | ||||||
88,867 | ||||||||
Cayman Islands — 0.02% | ||||||||
136,000 | China Resources Cement Holdings Ltd. (Construction Materials) | 91 | ||||||
129,000 | Lee & Man Paper Manufacturing Ltd. (Paper Products) | 85 | ||||||
176 | ||||||||
Chile — 0.06% | ||||||||
4,704 | Cap SA (Steel) | 90 | ||||||
76,587 | Empresas CMPC SA (Paper Products) | 187 | ||||||
29,341 | Empresas Copec SA (Oil & Gas Exploration & Production) | 393 | ||||||
670 | ||||||||
China — 0.84% | ||||||||
266,000 | Aluminum Corp. of China Ltd., H Shares (Aluminum) (a) | 93 | ||||||
79,000 | Anhui Conch Cement Co. Ltd., H Shares (Construction Materials) | 293 | ||||||
67,500 | BBMG Corp., H Shares (Construction Materials) | 59 | ||||||
124,000 | China BlueChemical Ltd., H Shares (Fertilizers & Agricultural Chemicals) | 78 | ||||||
260,000 | China Coal Energy Co. Ltd., H Shares (Coal & Consumable Fuels) | 145 | ||||||
184,000 | China National Building Material Co. Ltd., H Shares (Construction Materials) | 198 | ||||||
96,000 | China Oilfield Services Ltd., H Shares (Oil & Gas Drilling) | 298 | ||||||
1,644,869 | China Petroleum & Chemical Corp., H Shares (Integrated Oil & Gas) | 1,343 |
Shares | Security Description | Value (000) | ||||||
China (continued) | ||||||||
217,500 | China Shenhua Energy Co. Ltd., H Shares (Coal & Consumable Fuels) | $ | 685 | |||||
75,600 | Inner Mongolia Yitai Coal Co. Ltd., Class – B (Coal & Consumable Fuels) | 134 | ||||||
88,000 | Jiangxi Copper Co. Ltd., H Shares (Diversified Metals & Mining) | 159 | ||||||
4,698,729 | PetroChina Co. Ltd., H Shares (Integrated Oil & Gas) | 5,150 | ||||||
219,000 | Sinopec Shanghai Petrochemical Co. Ltd., H Shares (Commodity Chemicals) | 63 | ||||||
130,000 | Yanzhou Coal Mining Co. Ltd., H Shares (Coal & Consumable Fuels) | 119 | ||||||
402,000 | Zijin Mining Group Co. Ltd., H Shares (Gold) | 86 | ||||||
8,903 | ||||||||
Colombia — 0.09% | ||||||||
24,975 | Cementos Argos SA (Construction Materials) | 127 | ||||||
318,238 | Ecopetrol SA (Integrated Oil & Gas) | 610 | ||||||
18,567 | Grupo Argos SA (Construction Materials) | 187 | ||||||
924 | ||||||||
Curaçao — 0.62% | ||||||||
73,638 | Schlumberger Ltd. (Oil & Gas Equipment & Services) | 6,636 | ||||||
Finland — 0.10% | ||||||||
8,600 | Neste Oil Oyj (Oil & Gas Refining & Marketing) | 170 | ||||||
34,722 | Stora Enso Oyj, R Shares (Paper Products) | 348 | ||||||
33,364 | UPM-Kymmene Oyj (Paper Products) | 564 | ||||||
1,082 | ||||||||
France — 1.15% | ||||||||
23,292 | Air Liquide SA (Industrial Gases) | 3,294 | ||||||
4,014 | Arkema SA (Commodity Chemicals) | 468 | ||||||
9,950 | Compagnie Generale de Geophysique-Veritas (Oil & Gas Equipment & Services) (a) | 172 | ||||||
2,106 | Imerys SA (Precious Metals & Minerals) | 183 | ||||||
12,160 | Lafarge SA (Construction Materials) | 911 | ||||||
6,560 | Technip SA (Oil & Gas Equipment & Services) | 631 | ||||||
106,886 | Total SA (Integrated Oil & Gas) | 6,548 | ||||||
12,207 | ||||||||
Germany — 0.98% | ||||||||
51,441 | BASF SE (Diversified Chemicals) | 5,483 | ||||||
9,070 | HeidelbergCement AG (Construction Materials) | 688 | ||||||
11,012 | K+S AG – Registered (Fertilizers & Agricultural Chemicals) | 339 | ||||||
5,319 | Lanxess AG (Diversified Chemicals) | 355 | ||||||
13,835 | Linde AG (Industrial Gases) | 2,894 | ||||||
25,389 | ThyssenKrupp AG (Steel) (a) | 618 | ||||||
10,377 | ||||||||
Greece — 0.01% | ||||||||
4,600 | Hellenic Petroleum SA (Oil & Gas Exploration & Production) | 48 | ||||||
2,800 | Titan Cement Co. SA (Construction Materials) (a) | 76 | ||||||
124 |
See accompanying notes to financial statements.
63
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Hong Kong — 0.20% | ||||||||
1,037,302 | CNOOC Ltd. (Oil & Gas Exploration & Production) | $ | 1,929 | |||||
97,500 | Fosun International Ltd. (Steel) | 97 | ||||||
222,000 | Shougang Fushan Resources Group Ltd. (Diversified Metals & Mining) | 78 | ||||||
69,000 | Yingde Gases Group Co. Ltd. (Industrial Gases) | 72 | ||||||
2,176 | ||||||||
Hungary — 0.04% | ||||||||
6,909 | MOL Hungarian Oil & Gas PLC (Integrated Oil & Gas) | 463 | ||||||
India — 0.52% | ||||||||
13,102 | Reliance Industries Ltd. (Oil & Gas Refining & Marketing) | 190 | ||||||
166,605 | Reliance Industries Ltd. – Sponsored GDR (Oil & Gas Refining & Marketing) (b) | 4,823 | ||||||
20,160 | Sesa Sterlite Ltd. – Sponsored ADR (Diversified Metals & Mining) | 265 | ||||||
31,200 | Tata Steel Ltd. – Sponsored GDR, Registered Shares (Steel) | 215 | ||||||
5,493 | ||||||||
Indonesia — 0.05% | ||||||||
955,500 | PT Adaro Energy Tbk (Coal & Consumable Fuels) | 85 | ||||||
27,000 | PT Indo Tambangraya Megah Tbk (Coal & Consumable Fuels) | 63 | ||||||
94,000 | PT Indocement Tunggal Prakarsa Tbk (Construction Materials) | 155 | ||||||
189,500 | PT Semen Gresik (Persero) Tbk (Construction Materials) | 221 | ||||||
55,500 | PT Tambang Batubara Bukit Asam Tbk (Coal & Consumable Fuels) | 47 | ||||||
571 | ||||||||
Ireland — 0.14% | ||||||||
46,868 | CRH PLC (Construction Materials) | 1,179 | ||||||
28,192 | James Hardie Industries SE (Construction Materials) | 326 | ||||||
1,505 | ||||||||
Israel — 0.04% | ||||||||
262 | Delek Group Ltd. (Oil & Gas Refining & Marketing) | 100 | ||||||
28,346 | Israel Chemicals Ltd. (Fertilizers & Agricultural Chemicals) | 236 | ||||||
172 | The Israel Corp. Ltd. (Fertilizers & Agricultural Chemicals) (a) | 91 | ||||||
427 | ||||||||
Italy — 0.43% | ||||||||
176,681 | Eni SpA (Integrated Oil & Gas) | 4,251 | ||||||
16,927 | Saipem SpA (Oil & Gas Equipment & Services) | 362 | ||||||
4,613 | ||||||||
Japan — 2.81% | ||||||||
10,000 | Air Water, Inc. (Industrial Gases) | 135 | ||||||
81,000 | Asahi Kasei Corp. (Commodity Chemicals) | 634 | ||||||
19,000 | Daicel Corp. (Specialty Chemicals) | 154 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
19,000 | Daido Steel Co. Ltd. (Steel) | $ | 94 | |||||
6,400 | Hitachi Chemical Co. Ltd. (Specialty Chemicals) | 102 | ||||||
10,000 | Hitachi Metals Ltd. (Steel) | 141 | ||||||
6,000 | Idemitsu Kosan Co. Ltd. (Oil & Gas Refining & Marketing) | 136 | ||||||
56,000 | INPEX Corp. (Oil & Gas Exploration & Production) | 717 | ||||||
1,700 | Japan Petroleum Exploration Co. Ltd. (Oil & Gas Exploration & Production) | 64 | ||||||
31,700 | JFE Holdings, Inc. (Steel) | 753 | ||||||
294,200 | JSR Corp. (Specialty Chemicals) | 5,690 | ||||||
144,844 | JX Holdings, Inc. (Oil & Gas Refining & Marketing) | 744 | ||||||
19,000 | Kaneka Corp. (Commodity Chemicals) | 125 | ||||||
15,000 | Kansai Paint Co. Ltd. (Specialty Chemicals) | 222 | ||||||
159,000 | Kobe Steel Ltd. (Steel) (a) | 272 | ||||||
21,700 | Kuraray Co. Ltd. (Commodity Chemicals) | 258 | ||||||
2,800 | Maruichi Steel Tube Ltd. (Steel) | 71 | ||||||
86,500 | Mitsubishi Chemical Holdings Corp. (Diversified Chemicals) | 400 | ||||||
24,000 | Mitsubishi Gas Chemical Co., Inc. (Diversified Chemicals) | 176 | ||||||
71,000 | Mitsubishi Materials Corp. (Diversified Metals & Mining) | 262 | ||||||
1,784,000 | Mitsui Chemicals, Inc. (Commodity Chemicals) | 4,304 | ||||||
16,000 | Nippon Paint Co. Ltd. (Specialty Chemicals) | 266 | ||||||
2,681,482 | Nippon Steel & Sumitomo Metal Corp. (Steel) | 8,965 | ||||||
10,600 | Nitto Denko Corp. (Specialty Chemicals) | 446 | ||||||
51,000 | Oji Paper Co. Ltd. (Paper Products) | 261 | ||||||
26,415 | Shin-Etsu Chemical Co. Ltd. (Specialty Chemicals) | 1,540 | ||||||
95,000 | Showa Denko K.K. (Diversified Chemicals) | 134 | ||||||
12,000 | Showa Shell Sekiyu K.K. (Oil & Gas Refining & Marketing) | 122 | ||||||
96,000 | Sumitomo Chemical Co. Ltd. (Diversified Chemicals) | 376 | ||||||
34,000 | Sumitomo Metal Mining Co. Ltd. (Diversified Metals & Mining) | 444 | ||||||
75,000 | Taiheiyo Cement Corp. (Construction Materials) | 288 | ||||||
15,000 | Taiyo Nippon Sanso Corp. (Industrial Gases) | 107 | ||||||
60,000 | Teijin Ltd. (Commodity Chemicals) | 133 | ||||||
18,000 | TonenGeneral Sekiyu K.K. (Oil & Gas Refining & Marketing) | 165 | ||||||
95,000 | Toray Industries, Inc. (Commodity Chemicals) | 657 | ||||||
10,400 | Toyo Seikan Kaisha Ltd. (Metal & Glass Containers) | 223 | ||||||
65,000 | Ube Industries Ltd. (Diversified Chemicals) | 139 | ||||||
2,500 | Yamato Kogyo Co. Ltd. (Air Freight & Logistics) | 80 | ||||||
29,800 | ||||||||
Jersey — 0.33% | ||||||||
545,605 | Glencore International PLC (Diversified Metals & Mining) | 2,824 |
See accompanying notes to financial statements.
64
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Jersey (continued) | ||||||||
16,654 | Petrofac Ltd. (Oil & Gas Equipment & Services) | $ | 338 | |||||
5,644 | Randgold Resources Ltd. (Gold) | 354 | ||||||
3,516 | ||||||||
Luxembourg — 0.19% | ||||||||
57,200 | ArcelorMittal (Steel) | 1,020 | ||||||
17,709 | Subsea 7 SA (Oil & Gas Equipment & Services) | 339 | ||||||
30,188 | Tenaris SA (Oil & Gas Equipment & Services) | 660 | ||||||
2,019 | ||||||||
Malaysia — 0.10% | ||||||||
72,800 | Bumi Armada Berhad (Oil & Gas Equipment & Services) | 90 | ||||||
25,500 | Lafarge Malayan Cement Berhad (Construction Materials) | 67 | ||||||
177,800 | Petronas Chemicals Group Berhad (Commodity Chemicals) | 376 | ||||||
15,400 | Petronas Dagangan Berhad (Oil & Gas Refining & Marketing) | 148 | ||||||
229,700 | SapuraKencana Petroleum Berhad (Oil & Gas Equipment & Services) (a) | 343 | ||||||
1,024 | ||||||||
Mexico — 0.36% | ||||||||
721,524 | Cemex SAB de CV (Construction Materials) (a) | 848 | ||||||
452,934 | Grupo Mexico SAB de CV, Series B (Diversified Metals & Mining) | 1,501 | ||||||
11,039 | Industrias CH SAB de CV, Series B (Steel) (a) | 75 | ||||||
19,395 | Industrias Penoles SA de CV (Precious Metals & Minerals) | 482 | ||||||
138,132 | Mexichem SAB de CV (Commodity Chemicals) | 569 | ||||||
169,200 | Minera Frisco SAB de CV, Class – A1 (Diversified Metals & Mining) (a) | 349 | ||||||
3,824 | ||||||||
Mongolia — 0.37% | ||||||||
29,720,120 | Mongolian Mining Corp. (Diversified Metals & Mining) (a) | 3,948 | ||||||
Netherlands — 1.00% | ||||||||
15,460 | Akzo Nobel NV (Diversified Chemicals) | 1,198 | ||||||
2,989 | Core Laboratories NV (Oil & Gas Equipment & Services) | 571 | ||||||
4,669 | Fugro NV (Oil & Gas Equipment & Services) | 278 | ||||||
10,089 | Koninklijke DSM NV (Diversified Chemicals) | 793 | ||||||
4,400 | Koninklijke Vopak NV (Marine Ports & Services) | 257 | ||||||
94,351 | LyondellBasell Industries NV, Class – A (Specialty Chemicals) | 7,575 | ||||||
10,672 | ||||||||
New Zealand — 0.03% | ||||||||
43,778 | Fletcher Building Ltd. (Construction Materials) | 306 | ||||||
Norway — 0.23% | ||||||||
10,487 | Aker Solutions ASA (Oil & Gas Equipment & Services) | 187 |
Shares | Security Description | Value (000) | ||||||
Norway (continued) | ||||||||
59,521 | Norsk Hydro ASA (Aluminum) | $ | 266 | |||||
62,430 | Statoil ASA (Integrated Oil & Gas) | 1,514 | ||||||
11,831 | Yara International ASA (Fertilizers & Agricultural Chemicals) | 509 | ||||||
2,476 | ||||||||
Papua New Guinea — 0.47% | ||||||||
687,516 | Oil Search Ltd. (Oil & Gas Exploration & Production) | 4,977 | ||||||
Peru — 0.01% | ||||||||
12,400 | Compania de Minas Buenaventura SA – Sponsored ADR (Gold) | 139 | ||||||
Poland — 0.10% | ||||||||
2,535 | Grupa Azoty SA (Fertilizers & Agricultural Chemicals) | 52 | ||||||
4,151 | Grupa Lotos SA (Oil & Gas Refining & Marketing) (a) | 49 | ||||||
2,488 | Jastrzebska Spolka Weglowa SA (Diversified Metals & Mining) | 44 | ||||||
8,943 | KGHM Polska Miedz SA (Diversified Metals & Mining) | 350 | ||||||
20,507 | Polski Koncern Naftowy Orlen SA (Oil & Gas Refining & Marketing) | 278 | ||||||
113,155 | Polskie Gornictwo Naftowe i Gazownictwo SA (Integrated Oil & Gas) | 193 | ||||||
35,895 | Synthos SA (Commodity Chemicals) | 65 | ||||||
1,031 | ||||||||
Portugal — 0.59% | ||||||||
381,094 | Galp Energia SGPS SA, B Shares (Integrated Oil & Gas) | 6,246 | ||||||
Russia — 1.26% | ||||||||
186,600 | Gazprom OAO – Sponsored GDR (Integrated Oil & Gas) | 1,614 | ||||||
36,916 | LUKOIL, ADR (Integrated Oil & Gas) | 2,305 | ||||||
17,400 | LUKOIL – Sponsored ADR (Integrated Oil & Gas) | 1,098 | ||||||
33,406 | Mining & Metallurgical Co. Norilsk Nickel OJSC – Sponsored ADR (Diversified Metals & Mining) | 558 | ||||||
23,814 | NovaTek OAO – Sponsored GDR, Registered Shares (Oil & Gas Exploration & Production) | 3,260 | ||||||
34,050 | Rosneft Oil Co. OJSC – Sponsored GDR, Registered Shares (Integrated Oil & Gas)* | 259 | ||||||
54,591 | Rosneft Oil Co. OJSC – Sponsored GDR, Registered Shares (Integrated Oil & Gas) (b) | 416 | ||||||
13,448 | Severstal – Sponsored GDR, Registered Shares (Steel) | 133 | ||||||
279,466 | Surgutneftegas – Sponsored ADR (Integrated Oil & Gas) | 2,424 | ||||||
14,753 | Tatneft OAO – Sponsored GDR, Registered Shares, ADR (Oil & Gas Exploration & Production) | 564 | ||||||
26,412 | Uralkali – Sponsored GDR, Registered Shares (Fertilizers & Agricultural Chemicals) | 703 | ||||||
13,334 | ||||||||
South Africa — 0.32% | ||||||||
7,121 | African Rainbow Minerals Ltd. (Diversified Metals & Mining) | 129 |
See accompanying notes to financial statements.
65
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
South Africa (continued) | ||||||||
4,206 | Anglo Platinum Ltd. (Precious Metals & Minerals) (a) | $ | 159 | |||||
24,513 | AngloGold Ashanti Ltd. (Gold) | 288 | ||||||
2,065 | Assore Ltd. (Diversified Metals & Mining) | 67 | ||||||
9,143 | Exxaro Resources Ltd. (Diversified Metals & Mining) | 128 | ||||||
46,650 | Gold Fields Ltd. (Gold) | 147 | ||||||
24,254 | Harmony Gold Mining Co. Ltd. (Gold) | 60 | ||||||
34,354 | Impala Platinum Holdings Ltd. (Precious Metals & Minerals) | 404 | ||||||
5,147 | Kumba Iron Ore Ltd. (Steel) | 218 | ||||||
37,868 | Nampak Ltd. (Metal & Glass Containers) | 149 | ||||||
19,478 | Northam Platinum Ltd. (Precious Metals & Minerals) (a) | 78 | ||||||
32,896 | PPC Ltd. (Construction Materials) | 99 | ||||||
34,614 | Sappi Ltd. (Paper Products) (a) | 108 | ||||||
27,632 | Sasol Ltd. (Integrated Oil & Gas) | 1,361 | ||||||
3,395 | ||||||||
South Korea — 0.83% | ||||||||
3,017 | Cheil Industries, Inc. (Diversified Chemicals) (a) | 253 | ||||||
3,267 | GS Holdings Corp. (Oil & Gas Refining & Marketing) (a) | 177 | ||||||
5,710 | Hanwha Chemical Corp. (Commodity Chemicals) (a) | 117 | ||||||
2,690 | Hanwha Corp. (Commodity Chemicals) (a) | 100 | ||||||
1,091 | Honam Petrochemical Corp. (Commodity Chemicals) (a) | 240 | ||||||
1,572 | Hyosung Corp. (Commodity Chemicals) (a) | 105 | ||||||
1,920 | Hyundai Hysco (Steel)* (a) | 76 | ||||||
3,529 | Hyundai Steel Co. (Steel) (a) | 289 | ||||||
876 | Korea Kumho Petrochemical Co. Ltd. (Commodity Chemicals) (a) | 79 | ||||||
543 | Korea Zinc Co. Ltd. (Diversified Metals & Mining) (a) | 164 | ||||||
2,992 | LG Chem Ltd. (Commodity Chemicals) (a) | 848 | ||||||
1,067 | OCI Co. Ltd. (Diversified Chemicals) (a) | 193 | ||||||
17,782 | POSCO (Steel) | 5,502 | ||||||
3,839 | SK Innovation Co. Ltd. (Oil & Gas Refining & Marketing) (a) | 515 | ||||||
2,879 | S-Oil Corp. (Oil & Gas Refining & Marketing) | 202 | ||||||
8,860 | ||||||||
Spain — 0.16% | ||||||||
10,657 | Cemex Latam Holdings SA (Construction Materials) (a) | 82 | ||||||
64,935 | Repsol YPF SA (Integrated Oil & Gas) | 1,636 | ||||||
1,718 | ||||||||
Sweden — 0.05% | ||||||||
17,232 | Boliden AB (Diversified Metals & Mining) | 264 | ||||||
14,081 | Lundin Petroleum AB (Oil & Gas Exploration & Production) (a) | 274 | ||||||
538 |
Shares | Security Description | Value (000) | ||||||
Switzerland — 0.63% | ||||||||
510 | EMS-Chemie Holding AG – Registered (Diversified Chemicals) | $ | 181 | |||||
536 | Givaudan SA – Registered (Specialty Chemicals) | 765 | ||||||
14,768 | Holcim Ltd. – Registered (Construction Materials) | 1,105 | ||||||
66 | Sika AG (Specialty Chemicals) | 235 | ||||||
6,391 | Syngenta AG – Registered (Fertilizers & Agricultural Chemicals) | 2,546 | ||||||
23,190 | Transocean Ltd. (Oil & Gas Drilling) | 1,130 | ||||||
48,500 | Weatherford International Ltd. (Oil & Gas Equipment & Services) (a) | 751 | ||||||
6,713 | ||||||||
Taiwan — 0.35% | ||||||||
136,924 | Asia Cement Corp. (Construction Materials) | 177 | ||||||
116,325 | China Petrochemical Development Corp. (Commodity Chemicals) | 53 | ||||||
739,759 | China Steel Corp. (Steel) | 670 | ||||||
27,000 | Feng Hsin Iron & Steel Co. Ltd. (Steel) | 50 | ||||||
206,000 | Formosa Chemicals & Fibre Corp. (Specialty Chemicals) | 581 | ||||||
73,000 | Formosa Petrochemical Corp. (Oil & Gas Refining & Marketing) | 200 | ||||||
264,160 | Formosa Plastics Corp. (Chemicals) | 714 | ||||||
29,394 | LCY Chemical Corp. (Commodity Chemicals) | 38 | ||||||
304,010 | Nan Ya Plastics Corp. (Chemicals) | 703 | ||||||
212,000 | Taiwan Cement Corp. (Construction Materials) | 329 | ||||||
50,000 | Taiwan Fertilizer Co. Ltd. (Fertilizers & Agricultural Chemicals) | 113 | ||||||
38,000 | TSRC Corp. (Commodity Chemicals) | 56 | ||||||
3,684 | ||||||||
Thailand — 0.23% | ||||||||
79,500 | Banpu Public Co. Ltd. – Foreign Registered Shares (Coal & Consumable Fuels) | 73 | ||||||
80,600 | Indorama Ventures Public Co. Ltd. (Commodity Chemicals) | 49 | ||||||
594,100 | IRPC Public Co. Ltd. – NVDR (Oil & Gas Refining & Marketing) | 59 | ||||||
88,804 | PTT Exploration & Production Public Co. Ltd. (Oil & Gas Exploration & Production) | 450 | ||||||
107,555 | PTT Global Chemical Public Co. Ltd. (Diversified Chemicals) | 259 | ||||||
54,500 | PTT Public Co. Ltd. (Integrated Oil & Gas) | 474 | ||||||
53,300 | Thai Oil Public Co. Ltd. (Oil & Gas Refining & Marketing) | 91 | ||||||
6,900 | The Siam Cement Public Co. Ltd. (Construction Materials) | 84 | ||||||
19,100 | The Siam Cement Public Co. Ltd. – Foreign Registered Shares (Construction Materials) | 236 | ||||||
52,000 | The Siam Cement Public Co. Ltd. – NVDR (Construction Materials) | 634 | ||||||
2,409 |
See accompanying notes to financial statements.
66
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Turkey — 0.03% | ||||||||
230,435 | Eregli Demir ve Celik Fabrikalari TAS (Steel) | $ | 277 | |||||
2,762 | Koza Altin Isletmeleri AS (Gold) | 29 | ||||||
306 | ||||||||
United Kingdom — 11.61% | ||||||||
19,597 | AMEC PLC (Oil & Gas Equipment & Services) | 353 | ||||||
539,276 | Anglo American PLC (Diversified Metals & Mining) | 11,786 | ||||||
25,137 | Antofagasta PLC (Diversified Metals & Mining) | 343 | ||||||
977,056 | BG Group PLC (Integrated Oil & Gas) | 20,991 | ||||||
607,316 | BHP Billiton PLC (Diversified Metals & Mining) | 18,794 | ||||||
825,049 | BP PLC (Integrated Oil & Gas) | 6,667 | ||||||
281,670 | BP PLC – Sponsored ADR (Integrated Oil & Gas) | 13,692 | ||||||
8,650 | Croda International PLC (Specialty Chemicals) | 352 | ||||||
14,877 | Ensco PLC, ADR (Oil & Gas Drilling) | 850 | ||||||
12,100 | Fresnillo PLC (Precious Metals & Minerals) | 149 | ||||||
13,146 | Johnson Matthey PLC (Specialty Chemicals) | 714 | ||||||
16,300 | Noble Corp. PLC (Oil & Gas Drilling) | 611 | ||||||
1,103,236 | Ophir Energy PLC (Oil & Gas Exploration & Production) (a) | 5,988 | ||||||
49,983 | Rexam PLC (Metal & Glass Containers) | 439 | ||||||
404,597 | Rio Tinto PLC (Diversified Metals & Mining) | 22,840 | ||||||
8,268 | Rowan Cos. PLC, Class – A (Oil, Gas & Consumable Fuels) (a) | 292 | ||||||
189,168 | Royal Dutch Shell PLC, A Shares (Integrated Oil & Gas) | 6,775 | ||||||
157,307 | Royal Dutch Shell PLC, B Shares (Integrated Oil & Gas) | 5,938 | ||||||
403,837 | Tullow Oil PLC (Oil & Gas Exploration & Production) | 5,717 | ||||||
123,291 | ||||||||
United States — 22.64% | ||||||||
13,336 | Air Products & Chemicals, Inc. (Industrial Gases) | 1,491 | ||||||
4,425 | Airgas, Inc. (Industrial Gases) | 495 | ||||||
5,678 | Albemarle Corp. (Specialty Chemicals) | 360 | ||||||
68,324 | Alcoa, Inc. (Aluminum) | 726 | ||||||
241,401 | Allegheny Technologies, Inc. (Steel) | 8,601 | ||||||
84,052 | Anadarko Petroleum Corp. (Oil & Gas Exploration & Production) | 6,667 | ||||||
110,614 | Apache Corp. (Oil & Gas Exploration & Production) | 9,506 | ||||||
4,800 | Ashland, Inc. (Chemicals) | 466 | ||||||
6,400 | Avery Dennison Corp. (Office Services & Supplies) | 321 | ||||||
28,525 | Baker Hughes, Inc. (Oil & Gas Equipment & Services) | 1,576 | ||||||
152,028 | Ball Corp. (Metal & Glass Containers) | 7,854 | ||||||
27,900 | Cabot Oil & Gas Corp. (Oil & Gas Exploration & Production) | 1,081 | ||||||
16,046 | Cameron International Corp. (Oil & Gas Equipment & Services) (a) | 955 |
Shares | Security Description | Value (000) | ||||||
United States (continued) | ||||||||
10,200 | Celanese Corp., Series A, Series A (Specialty Chemicals) | $ | 564 | |||||
4,045 | CF Industries Holdings, Inc. (Fertilizers & Agricultural Chemicals) | 943 | ||||||
13,100 | Cheniere Energy, Inc. (Oil, Gas & Consumable Fuels) (a) | 565 | ||||||
34,146 | Chesapeake Energy Corp. (Oil & Gas Exploration & Production) | 927 | ||||||
164,513 | Chevron Corp. (Integrated Oil & Gas) | 20,549 | ||||||
5,600 | Cimarex Energy Co. (Oil & Gas Exploration & Production) | 587 | ||||||
242,341 | Cobalt International Energy, Inc. (Oil & Gas Exploration & Production) (a) | 3,987 | ||||||
6,700 | Concho Resources, Inc. (Oil & Gas Exploration & Production) (a) | 724 | ||||||
81,471 | ConocoPhillips (Integrated Oil & Gas) | 5,756 | ||||||
142,114 | CONSOL Energy, Inc. (Coal & Consumable Fuels) | 5,406 | ||||||
2,969 | Continental Resources, Inc. (Oil & Gas Exploration & Production) (a) | 334 | ||||||
23,900 | Denbury Resources, Inc. (Oil & Gas Exploration & Production) (a) | 393 | ||||||
24,891 | Devon Energy Corp. (Oil & Gas Exploration & Production) | 1,540 | ||||||
4,430 | Diamond Offshore Drilling, Inc. (Oil & Gas Drilling) | 252 | ||||||
25,678 | Dril-Quip, Inc. (Oil & Gas Equipment & Services) (a) | 2,823 | ||||||
66,986 | E.I. du Pont de Nemours & Co. (Diversified Chemicals) | 4,353 | ||||||
9,856 | Eastman Chemical Co. (Diversified Chemicals) | 795 | ||||||
19,036 | Ecolab, Inc. (Specialty Chemicals) | 1,985 | ||||||
4,600 | Energen Corp. (Oil & Gas Exploration & Production) | 325 | ||||||
70,158 | EOG Resources, Inc. (Oil & Gas Exploration & Production) | 11,775 | ||||||
9,738 | EQT Corp. (Oil & Gas Exploration & Production) | 874 | ||||||
103,340 | Exxon Mobil Corp. (Integrated Oil & Gas) | 10,458 | ||||||
88,443 | First Solar, Inc. (Electrical Components & Equipment) (a) | 4,833 | ||||||
8,762 | FMC Corp. (Diversified Chemicals) | 661 | ||||||
15,300 | FMC Technologies, Inc. (Oil & Gas Equipment & Services) (a) | 799 | ||||||
75,217 | Freeport-McMoRan Copper & Gold, Inc. (Diversified Metals & Mining) | 2,839 | ||||||
148,712 | Halliburton Co. (Oil & Gas Equipment & Services) | 7,547 | ||||||
6,800 | Helmerich & Payne, Inc. (Oil & Gas Drilling) | 572 | ||||||
19,848 | Hess Corp. (Integrated Oil & Gas) | 1,647 | ||||||
12,472 | HollyFrontier Corp. (Oil & Gas Refining & Marketing) | 620 | ||||||
5,200 | International Flavors & Fragrances, Inc. (Specialty Chemicals) | 447 | ||||||
29,400 | International Paper Co. (Paper Products) | 1,441 | ||||||
129,000 | KBR, Inc. (Construction & Engineering) | 4,114 | ||||||
6,922 | Kinder Morgan Management LLC (Oil & Gas Storage & Transportation) (a) | 524 |
See accompanying notes to financial statements.
67
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks | ||||||||
United States (continued) | ||||||||
43,036 | Kinder Morgan, Inc. (Oil & Gas Storage & Transportation) | $ | 1,549 | |||||
47,134 | Marathon Oil Corp. (Integrated Oil & Gas) | 1,664 | ||||||
103,572 | Marathon Petroleum Corp. (Oil & Gas Refining & Marketing) | 9,501 | ||||||
2,928 | Martin Marietta Materials, Inc. (Construction Materials) | 293 | ||||||
11,200 | MeadWestvaco Corp. (Paper Products) | 414 | ||||||
38,070 | Monsanto Co. (Fertilizers & Agricultural Chemicals) | 4,437 | ||||||
12,000 | Murphy Oil Corp. (Integrated Oil & Gas) | 779 | ||||||
31,458 | National Oilwell Varco, Inc. (Oil & Gas Equipment & Services) | 2,502 | ||||||
30,875 | Newmont Mining Corp. (Gold) | 711 | ||||||
23,020 | Noble Energy, Inc. (Oil & Gas Exploration & Production) | 1,568 | ||||||
20,500 | Nucor Corp. (Steel) | 1,094 | ||||||
53,610 | Occidental Petroleum Corp. (Integrated Oil & Gas) | 5,098 | ||||||
7,058 | Oceaneering International, Inc. (Oil & Gas Equipment & Services) | 557 | ||||||
10,100 | Owens-Illinois, Inc. (Metal & Glass Containers) (a) | 361 | ||||||
114,742 | Pattern Energy Group, Inc. (Independent Power Producers & Energy Traders) | 3,478 | ||||||
204,552 | Patterson-UTI Energy, Inc. (Oil & Gas Drilling) | 5,179 | ||||||
17,400 | Peabody Energy Corp. (Coal & Consumable Fuels) | 340 | ||||||
232,930 | Phillips 66 (Oil, Gas & Consumable Fuels) | 17,966 | ||||||
62,726 | Pioneer Natural Resources Co. (Oil & Gas Exploration & Production) | 11,546 | ||||||
9,218 | PPG Industries, Inc. (Diversified Chemicals) | 1,748 | ||||||
22,350 | Praxair, Inc. (Industrial Gases) | 2,906 | ||||||
11,300 | QEP Resources, Inc. (Oil & Gas Exploration & Production) | 346 | ||||||
10,629 | Range Resources Corp. (Oil & Gas Exploration & Production) | 896 | ||||||
4,600 | Rock-Tenn Co., Class – A (Paper Packaging) | 483 | ||||||
11,700 | Sealed Air Corp. (Paper Packaging) | 398 | ||||||
7,700 | Sigma-Aldrich Corp. (Specialty Chemicals) | 724 | ||||||
10,760 | Southern Copper Corp. (Diversified Metals & Mining) | 309 | ||||||
141,413 | Southwestern Energy Co. (Oil & Gas Exploration & Production) (a) | 5,562 | ||||||
43,078 | Spectra Energy Corp. (Oil & Gas Storage & Transportation) | 1,534 | ||||||
10,159 | Superior Energy Services, Inc. (Oil & Gas Equipment & Services) (a) | 270 | ||||||
8,800 | Tesoro Corp. (Oil & Gas Refining & Marketing) | 515 | ||||||
85,833 | The Dow Chemical Co. (Diversified Chemicals) | 3,811 | ||||||
91,797 | The Mosaic Co. (Fertilizers & Agricultural Chemicals) | 4,339 |
Shares | Security Description | Value (000) | ||||||
United States (continued) | ||||||||
5,651 | The Sherwin-Williams Co. (Specialty Chemicals) | $ | 1,037 | |||||
43,978 | The Williams Cos., Inc. (Oil & Gas Storage & Transportation) | 1,697 | ||||||
35,900 | Valero Energy Corp. (Oil & Gas Refining & Marketing) | 1,809 | ||||||
8,400 | Vulcan Materials Co. (Construction Materials) | 499 | ||||||
7,800 | Whiting Petroleum Corp. (Oil & Gas Exploration & Production) (a) | 483 | ||||||
240,461 | ||||||||
Total Common Stocks | 667,446 | |||||||
Preferred Stocks — 0.50% | ||||||||
Brazil — 0.43% | ||||||||
14,300 | Bradespar SA – Preferred (Steel) | 152 | ||||||
9,500 | Braskem SA – Preferred, Class – A (Commodity Chemicals) (a) | 85 | ||||||
55,800 | Gerdau SA – Preferred (Steel) | 434 | ||||||
30,700 | Klabin SA – Preferred (Paper Packaging) | 160 | ||||||
17,600 | Metalurgica Gerdau SA – Preferred (Steel) | 175 | ||||||
218,875 | Petroleo Brasileiro SA – Preferred (Integrated Oil & Gas) | 1,584 | ||||||
18,800 | Suzano Papel e Celulose SA – Preferred, Class – A (Paper Products) | 74 | ||||||
23,987 | Usinas Siderurgicas de Minas Gerais SA – Preferred, Class – A (Steel) (a) | 144 | ||||||
122,404 | Vale SA – Preferred (Steel) | 1,697 | ||||||
4,505 | ||||||||
Chile — 0.01% | ||||||||
6,128 | Sociedad Quimica y Minera de Chile SA – Preferred, Class – B (Fertilizers & Agricultural Chemicals) | 156 | ||||||
Colombia — 0.01% | ||||||||
8,262 | Grupo Argos SA – Preferred (Construction Materials) | 84 | ||||||
Germany — 0.02% | ||||||||
2,267 | Fuchs Petrolub AG – Preferred (Oil & Gas Exploration & Production) | 222 | ||||||
Russia — 0.02% | ||||||||
98 | AK Transneft OAO – Preferred (Oil & Gas Storage & Transportation) (c) | 257 | ||||||
South Korea — 0.01% | ||||||||
488 | LG Chem Ltd. – Preferred (Commodity Chemicals) (a) | 71 | ||||||
Total Preferred Stocks | 5,295 | |||||||
Warrant — 0.00% | ||||||||
United States — 0.00% | ||||||||
5,760 | Kinder Morgan, Inc. (Oil & Gas Storage & Transportation) (a) | 23 | ||||||
Total Warrant | 23 | |||||||
Rights — 0.01% | ||||||||
Canada — 0.00% | ||||||||
25,153 | Turquoise Hill Resources Ltd. (Diversified Metals & Mining) (a) | 23 | ||||||
Spain — 0.01% | ||||||||
64,935 | Repsol SA (Integrated Oil & Gas) (a) | 44 | ||||||
Total Rights | 67 |
See accompanying notes to financial statements.
68
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Security Description | Value (000) | ||||||
Corporate Bonds — 0.45% | ||||||||
$1,400 | HSBC Finance Corp., 0.49%, 1/15/14 (Diversified Financial Services) | $ | 1,400 | |||||
1,000 | Morgan Stanley, 6.00%, 5/13/14 (Capital Markets) | 1,019 | ||||||
900 | New York Life Global Funding, 2.10%, 1/2/19 (Life & Health Insurance) (c) | 895 | ||||||
205 | Overseas Private Investment Corp., 4.73%, 3/15/22 (Sovereign) | 225 | ||||||
1,200 | Verizon Communications, Inc., Series FRN, 1.77%, 9/15/16 (Diversified Telecommunication Services) | 1,236 | ||||||
Total Corporate Bonds | 4,775 | |||||||
Asset Backed Securities — 0.60% | ||||||||
246 | AIMCO, Series 2005-AAB, Class A1B, 0.49%, 10/20/19 (b)(d) | 243 | ||||||
242 | Avenue CLO Ltd., Series 2004-2AL, Class A1L, 0.50%, 10/30/17 (b)(d) | 241 | ||||||
288 | BlueMountain CLO Ltd., Series 2005-1A, Class A1F, 0.48%, 11/15/17 (b)(d) | 287 | ||||||
1,000 | Citibank Omni Master Trust, Series 2009-A14A4, Class A14, 2.92%, 8/15/18 (b)(d) | 1,016 | ||||||
600 | Commercial Industrial Finance Corp., Series 2007-1AL, Class A1L, 0.50%, 5/10/21 (b)(d) | 591 | ||||||
591 | Fore CLO Ltd., Series 2007-1AB, Class A1B, 0.49%, 7/20/19 (b)(d) | 582 | ||||||
319 | Four Corners CLO Ltd., Series 2006-2A, Class A, 0.51%, 1/26/20 (b)(d) | 315 | ||||||
468 | First Franklin Mortgage Loan Asset Backed Certificates, Series 2005-FF11D, Class A2D, 0.50%, 11/25/35 (d) | 452 | ||||||
250 | First Franklin Mortgage Loan Asset Backed Certificates, Series 2005-FF2, Class M3, 0.88%, 3/25/35 (d) | 238 | ||||||
1,100 | Household Home Equity Loan Trust, Series 2007-1, Class M2, 0.65%, 3/20/36 (d) | 939 | ||||||
400 | New Century Home Equity Loan Trust, Series 2005-3, Class M2, 0.65%, 7/25/35 (d) | 372 | ||||||
305 | Oak Hill Credit Partners, Series 2005-4AB, Class A1B, 0.49%, 5/17/21 (b)(d) | 305 | ||||||
200 | Park Place Securities, Inc., Series 2005-WCW2, Class M1, 0.66%, 7/25/35 (d) | 188 | ||||||
113 | Stanfield Bristol CLO Ltd., Series 2005-1A, Class A1, 0.50%, 10/15/19 (b)(d) | 112 | ||||||
529 | Structured Asset Investment Loan Trust, Series 2003-BC11, Class M1, 1.14%, 10/25/33 (d) | 504 | ||||||
Total Asset Backed Securities | 6,385 | |||||||
Collateralized Mortgage Obligations — 0.44% | ||||||||
300 | Ameriquest Mortgage Securities, Inc., Series 2005-R11, Class M1, 0.61%, 1/25/36 | 259 | ||||||
400 | Banc of America Commercial Mortgage, Inc., Series 2007-2, Class A4, 5.62%, 4/10/49 | 443 | ||||||
744 | Bear Stearns ALT-A Trust, Series 2007-8, Class 1A, 0.86%, 9/25/34 (d) | 720 | ||||||
753 | Freddie Mac, Series 2781, Class F1, 0.62%, 9/15/42 (d) | 741 | ||||||
2,958 | Fannie Mae, Series 2013-M4, Class X1, 3.95%, 2/25/18 (c)(d) | 393 |
Principal Amount (000) | Security Description | Value (000) | ||||||
Collateralized Mortgage Obligations (continued) | ||||||||
$662 | Freddie Mac, Series 3096, Class FX, 0.62%, 5/15/32 (d) | $ | 661 | |||||
603 | Fannie Mae, Series 2006-98, Class FA, 0.59%, 10/25/36 (d) | 604 | ||||||
243 | Freddie Mac, Series 3179, Class FP, 0.55%, 7/15/36 (d) | 243 | ||||||
24 | GMAC Mortgage Corp. Loan Trust, Series 2004-AR1, Class 12A, 3.17%, 6/25/34 (d) | 24 | ||||||
419 | WaMu Mortgage Pass-Through Certificates, Series 2004-AR14, Class A1, 2.41%, 1/25/35 (d) | 417 | ||||||
93 | Granite Mortgages PLC, Series 2004-2, Class 2A1, 0.58%, 6/20/44 (d) | 127 | ||||||
Total Collateralized Mortgage Obligations | 4,632 | |||||||
Certificate of Deposit — 0.08% | ||||||||
800 | Banco do Brasil NY, 1.20%, 1/24/14 | 800 | ||||||
Total Certificate of Deposit | 800 | |||||||
Global Bonds — 0.55% | ||||||||
Germany — 0.27% | ||||||||
2,100 | FMS Wertmanagement, 2.25%, 7/14/14 (e) | 2,919 | ||||||
Italy — 0.14% | ||||||||
1,000 | Buoni Poliennali del Tesoro, 4.75%, 6/1/17 (e) | 1,491 | ||||||
Mexico — 0.01% | ||||||||
1,000 | Mexican Bonos de Protection al Ahorro, Series IS, 4.01%, 1/30/20 (e) | 78 | ||||||
New Zealand — 0.01% | ||||||||
100 | New Zealand Index Linked Bond, 2.00%, 9/20/25 (e) | 77 | ||||||
Slovenia — 0.04% | ||||||||
300 | Republic of Slovenia, 4.70%, 11/1/16 (c)(e) | 424 | ||||||
Spain — 0.07% | ||||||||
500 | Comunidad de Madrid, 4.20%, 9/24/14 (e) | 700 | ||||||
United States — 0.01% | ||||||||
100 | JPMorgan Chase Bank NA, 4.37%, 11/30/21, Callable 11/14/16 @ 100 (e) | 143 | ||||||
Total Global Bonds | 5,832 | |||||||
U.S. Government Agency Securities — 6.43% | ||||||||
300 | Fannie Mae, 0.07%, 2/5/14 (f) | 300 | ||||||
4,500 | Fannie Mae, 6.00%, 4/18/36, Callable 4/18/16 @ 100 | 4,929 | ||||||
500 | Fannie Mae, 0.13%, 1/27/14 (f) | 500 | ||||||
1,321 | Fannie Mae, 3.50%, 12/1/43 | 1,314 | ||||||
1,117 | Fannie Mae, 3.50%, 11/1/43 | 1,113 | ||||||
300 | Federal Home Loan Bank, 0.07%, 1/17/14 (f) | 300 | ||||||
300 | Federal Home Loan Bank, 0.06%, 1/9/14 (f)(g) | 300 | ||||||
900 | Federal Home Loan Bank, 0.08%, 1/29/14 (f) | 900 | ||||||
200 | Federal Home Loan Bank, 0.06%, 1/22/14 (f)(g) | 200 | ||||||
30,000 | Federal Home Loan Bank, 0.07%, 1/3/14 (f)(g) | 29,999 | ||||||
9,400 | Federal Home Loan Bank, 0.06%, 1/2/14 (f) | 9,400 | ||||||
600 | Federal Home Loan Bank, 0.06%, 1/13/14 (f)(g) | 600 | ||||||
8,000 | Federal Home Loan Bank, 0.06%, 1/8/14 (f) | 8,000 | ||||||
5,600 | Freddie Mac, 0.55%, 2/13/15, Callable 2/13/14 @ 100 | 5,603 |
See accompanying notes to financial statements.
69
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Security Description | Value (000) | ||||||
U.S. Government Agency Securities (continued) | ||||||||
$4,300 | Freddie Mac, Series RB, 0.05%, 1/23/14 (f) | $ | 4,300 | |||||
500 | Freddie Mac, 0.13%, 10/2/19, Callable 10/2/14 @ 100 | 504 | ||||||
Total U.S. Government Agency Securities | 68,262 | |||||||
U.S. Treasury Obligations — 5.81% | ||||||||
10,112 | U.S. Treasury Inflation Index Note, 2.00%, 1/15/14 (h) | 10,103 | ||||||
1,000 | U.S. Treasury Bill, 0.01%, 1/16/14 (f) | 1,000 | ||||||
5,370 | U.S. Treasury Bill, 0.03%, 1/23/14 (f) | 5,370 | ||||||
6,147 | U.S. Treasury Bill, 0.03%, 1/30/14 (f) | 6,147 | ||||||
4,300 | U.S. Treasury Note, 0.25%, 1/31/14 | 4,301 | ||||||
2,100 | U.S. Treasury Note, 1.00%, 5/15/14 | 2,107 | ||||||
3,900 | U.S. Treasury Note, 2.25%, 5/31/14 | 3,934 | ||||||
5,200 | U.S. Treasury Note, 0.25%, 5/31/14 (h) | 5,203 | ||||||
1,300 | U.S. Treasury Note, 0.75%, 6/15/14 | 1,304 | ||||||
700 | U.S. Treasury Note, 0.25%, 6/30/14 | 701 | ||||||
4,400 | U.S. Treasury Note, 0.63%, 7/15/14 | 4,412 | ||||||
248 | U.S. Treasury Inflation Index Note, 2.00%, 7/15/14 | 253 | ||||||
2,000 | U.S. Treasury Note, 0.13%, 7/31/14 | 2,000 | ||||||
2,800 | U.S. Treasury Bill, 0.14%, 8/21/14 (f)(h) | 2,799 | ||||||
6,800 | U.S. Treasury Note, 0.25%, 8/31/14 | 6,806 | ||||||
2,000 | U.S. Treasury Bill, 0.13%, 11/13/14 (f) | 1,998 | ||||||
500 | U.S. Treasury Bill, 0.14%, 12/11/14 (f) | 499 | ||||||
120 | U.S. Treasury Inflation Index Note, 1.88%, 7/15/15 | 127 | ||||||
2,631 | U.S. Treasury Inflation Index Note, 0.13%, 1/15/23 | 2,485 | ||||||
201 | U.S. Treasury Inflation Index Note, 0.38%, 7/15/23 | 194 | ||||||
Total U.S. Treasury Obligations | 61,743 | |||||||
Yankee Dollars — 0.89% | ||||||||
France — 0.09% | ||||||||
1,000 | Dexia Credit Local SA NY, 1.25%, 10/18/16 (Commercial Banks) (b) | 1,000 | ||||||
Italy — 0.07% | ||||||||
700 | Intesa Sanpaolo SpA, 3.13%, 1/15/16 (Commercial Banks) | 713 | ||||||
Korea, Republic Of — 0.03% | ||||||||
300 | Export-Import Bank of Korea, 1.09%, 9/17/16 (Diversified Banks) | 301 | ||||||
Netherlands — 0.18% | ||||||||
462 | Achmea Hypotheekbank NV, 3.20%, 11/3/14 (Commercial Banks) (b) | 473 | ||||||
1,400 | Deutsche Annington Finance BV, 3.20%, 10/2/17 (Real Estate Development) (b) | 1,416 | ||||||
1,889 | ||||||||
Norway — 0.09% | ||||||||
500 | Kommunalbanken AS, 0.63%, 3/27/17 (Commercial Banks) (b)(e) | 503 | ||||||
400 | Nordea Eiendomskreditt AS, 2.13%, 9/22/16 (Commercial Banks) (b) | 411 | ||||||
914 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Switzerland — 0.04% | ||||||||
$436 | UBS AG Stamford CT, 2.25%, 1/28/14 (Commercial Banks) | $ | 437 | |||||
United Kingdom — 0.09% | ||||||||
1,000 | HSBC Bank PLC, 1.63%, 7/7/14 (Commercial Banks) (b) | 1,007 | ||||||
United States — 0.30% | ||||||||
1,000 | JPMorgan Chase Bank NA, 5.38%, 9/28/16 (Commercial Banks) | 1,799 | ||||||
1,000 | Merrill Lynch & Co., Series E, 0.67%, 7/22/14 (Capital Markets) (e) | 1,377 | ||||||
3,176 | ||||||||
Total Yankee Dollars | 9,437 | |||||||
Time Deposit — 0.56% | ||||||||
5,908 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/14 | 5,908 | ||||||
Total Time Deposit | 5,908 | |||||||
Mutual Fund — 0.22% | ||||||||
2,340,000 | SSgA Treasury Money Market Fund, 0.00% (i) | 2,340 | ||||||
Total Mutual Fund | 2,340 | |||||||
Call Options Purchased — 0.0% | ||||||||
2 | Brent Calendar Swap Future, Expiring 1/2/14 at $119 | — | ||||||
1 | Brent Crude Oil Future, Expiring 1/2/14 at $119 | — | ||||||
19 | Crude Oil Future Option, Expiring 11/18/14 at $110 | 15 | ||||||
5 | Crude Oil Future Option, Expiring 11/18/15 at $145 | 1 | ||||||
31 | Gold Future Option, Expiring 1/29/14 at $300 | 7 | ||||||
Total Call Options Purchased (Cost $124) | 23 | |||||||
Put Option Purchased — 0.0% | ||||||||
11 | Electrolytic Copper Future Option, Expiring 12/4/14 at $7000 | 108 | ||||||
Total Put Options Purchased (Cost $208) | 108 | |||||||
Repurchase Agreements — 19.69% | ||||||||
39,900 | Bank of America, 0.01%, 1/2/14 (Purchased on 12/31/13, proceeds at maturity $39,900,011 collateralized by U.S. Treasury Notes, 0.25% – 2.00%, 7/31/15 – 9/30/20 fair value $40,698,175) | 39,900 | ||||||
59,500 | BNP Paribas, 0.01%, 1/2/14 (Purchased on 12/31/13, proceeds at maturity $43,200,012 collateralized by U.S. Treasury Obligations, 0.63% – 3.63%, 8/15/16 – 4/15/32 fair value $44,064,057) | 59,500 | ||||||
15,300 | Credit Suisse Securities, 0.01%, 1/2/14 (Purchased on 12/31/13, proceeds at maturity $15,300,004 collateralized by U.S. Treasury Notes, 0.75%, 10/31/17 fair value $15,608,683) | 15,300 |
See accompanying notes to financial statements.
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Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Security Description | Value (000) | ||||||
Repurchase Agreements (continued) | ||||||||
$40,200 | Deutsche Bank Securities, Inc., 0.02%, 1/2/14 (Purchased on 12/31/13, proceeds at maturity $40,200,045 collateralized by U.S. Treasury Notes, 1.75% – 2.13%, 12/31/15 – 5/15/23 fair value $41,004,092) | $ | 40,200 | |||||
39,900 | Morgan Stanley & Co., LLC, 0.02%, 1/2/14 (Purchased on 12/31/13, proceeds at maturity $39,900,044 collateralized by U.S. Treasury Obligations, 2.63% – 7.25%, 5/15/16 – 11/15/40 fair value $40,698,100) | 39,900 | ||||||
9,600 | RBS Securities, Inc., 0.02%, 1/2/14 (Purchased on 12/31/13, proceeds at maturity $9,600,011 collateralized by U.S. Government Agency Security, 4.13%, 4/15/14 fair value $9,798,621) | 9,600 | ||||||
4,800 | Toronto-Dominion Bank NY, 0.02%, 1/2/14 (Purchased on 12/31/13, proceeds at maturity $4,800,005 collateralized by U.S. Treasury Bonds, 5.38%, 2/15/31 fair value $4,914,836) | 4,800 | ||||||
Total Repurchase Agreements | 209,200 | |||||||
Total Investments (cost $978,087) — 99.05% | 1,052,276 | |||||||
Other assets in excess of liabilities — 0.95% | 10,097 | |||||||
Net Assets — 100.00% | $ | 1,062,373 |
Amounts designated as “—” are $0 or have been rounded to $0.
* | Security was fair valued on December 31, 2013 and represents a Level 2 security. Refer to Note 2 in the Notes to Financial Statements. |
(a) | Represents non-income producing security. |
(b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(c) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed illiquid by the Specialist Manager and represent 0.19% of the Portfolio. |
(d) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2013. |
(e) | The principal amount is disclosed in local currency and the value is disclosed in U.S. Dollars. |
(f) | Zero Coupon Security. Effective rate shown is as of December 31, 2013. |
(g) | Rate disclosed represents effective yield at purchase. |
(h) | All or part of this security has been pledged as collateral for derivative instruments held by the Portfolio. |
(i) | The rate disclosed is the rate in effect on December 31, 2013. |
ADR — American Depositary Receipt
GDR — Global Depositary Receipt
NVDR — Non-Voting Depository Receipt
See accompanying notes to financial statements.
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HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
The following table reflects the percentage of the total net assets of the Portfolio attributable to each Specialist Manager, see Note 3 in the Notes to Financial Statements.
The Commodity Returns Strategy Portfolio | Mellon Capital Management Corp. | PIMCO | Wellington Management Company, LLP; Global National Resources Equity Strategy | Wellington Management Company, LLP; Commodity Futures Strategy | Total | |||||||||||||||
Common Stocks | 30.93 | % | — | 31.76 | % | 0.13 | % | 62.82 | % | |||||||||||
Preferred Stocks | 0.50 | % | — | — | — | 0.50 | % | |||||||||||||
Warrant | 0.00 | % | — | — | — | 0.00 | % | |||||||||||||
Rights | 0.01 | % | — | — | — | 0.01 | % | |||||||||||||
Corporate Bonds | — | 0.45 | % | — | — | 0.45 | % | |||||||||||||
Asset Backed Securities | — | 0.60 | % | — | — | 0.60 | % | |||||||||||||
Collateralized Mortgage Obligations | — | 0.44 | % | — | — | 0.44 | % | |||||||||||||
Certificate of Deposit | — | 0.08 | % | — | — | 0.08 | % | |||||||||||||
Global Bonds | — | 0.55 | % | — | — | 0.55 | % | |||||||||||||
U.S. Government Agency Securities | — | 6.43 | % | — | — | 6.43 | % | |||||||||||||
U.S. Treasury Obligations | — | 5.81 | % | — | — | 5.81 | % | |||||||||||||
Yankee Dollars | — | 0.89 | % | — | — | 0.89 | % | |||||||||||||
Time Deposits | — | 0.10 | % | 0.45 | % | 0.01 | % | 0.56 | % | |||||||||||
Mutual Funds | 0.22 | % | — | — | 0.00 | % | 0.22 | % | ||||||||||||
Call Options Purchased | — | — | — | 0.00 | % | 0.00 | % | |||||||||||||
Put Options Purchased | — | — | — | 0.00 | % | 0.00 | % | |||||||||||||
Repurchase Agreements | — | 2.89 | % | — | 16.80 | % | 19.69 | % | ||||||||||||
Other Assets | 0.25 | % | -0.22 | % | 0.05 | % | 0.87 | % | 0.95 | % | ||||||||||
Total Investments | 31.91 | % | 18.02 | % | 32.26 | % | 17.81 | % | 100.00 | % |
See accompanying notes to financial statements.
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HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2013.
Long/(Short) Futures
Number of Contracts | Futures Contracts Positionsˆ | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
118 | Brent Crude Future | $ | 13,074 | 1/17/14 | $ | 181 | ||||||||||
(11) | Brent Crude Future | (1,153 | ) | 2/13/15 | (54 | ) | ||||||||||
(1) | Brent Crude Future | (110 | ) | 5/16/14 | (1 | ) | ||||||||||
(89) | Brent Crude Future | (9,746 | ) | 5/16/14 | (475 | ) | ||||||||||
(25) | Brent Crude Future | (2,697 | ) | 8/15/14 | (39 | ) | ||||||||||
(3) | Brent Crude Future | (319 | ) | 11/14/14 | (1 | ) | ||||||||||
9 | Brent Crude Future | 957 | 11/14/14 | 29 | ||||||||||||
34 | Brent Crude Future | 9 | 2/11/14 | (17 | ) | |||||||||||
(35) | Canola Fture | (302 | ) | 5/15/14 | 9 | |||||||||||
(15) | Cocoa Future | (406 | ) | 3/17/14 | 1 | |||||||||||
15 | Cocoa Future | 407 | 5/15/14 | — | ||||||||||||
30 | Coffee “C” Future | 1,245 | 3/20/14 | (36 | ) | |||||||||||
(147) | Corn Future | (3,102 | ) | 3/17/14 | 62 | |||||||||||
224 | Corn Future | 5,043 | 12/151/4 | (428 | ) | |||||||||||
(1) | Cotton No. 2 Future | (42 | ) | 3/10/14 | — | |||||||||||
15 | Cotton No. 2 Future | 635 | 3/10/14 | 32 | ||||||||||||
(8) | Cotton No. 2 Future | (338 | ) | 5/8/14 | (11 | ) | ||||||||||
9 | Cotton No. 2 Future | 378 | 7/10/14 | 13 | ||||||||||||
51 | Crude Oil Future | 3 | 1/13/14 | (41 | ) | |||||||||||
35 | Crude Oil Future | 63 | 11/10/14 | — | ||||||||||||
89 | Electrolytic Copper Future | 16,389 | 3/18/14 | 555 | ||||||||||||
(10) | Electrolytic Copper Future | (1,825 | ) | 12/16/14 | 63 | |||||||||||
1 | European Gas Oil Swap Future | 16 | 2/3/14 | 1 | ||||||||||||
1 | European Gas Oil Swap Future | 16 | 3/3/14 | 1 | ||||||||||||
1 | European Gas Oil Swap Future | 16 | 4/1/14 | 1 | ||||||||||||
91 | Gas Oil Future | 8,593 | 1/13/14 | (10 | ) | |||||||||||
27 | Gasoline RBOB Future | 3,166 | 3/3/14 | 1 | ||||||||||||
318 | Gold 100 Oz. Future | 38,255 | 4/29/14 | (774 | ) | |||||||||||
223 | Hard Red Winter Wheat Future | 7,175 | 7/15/14 | (648 | ) | |||||||||||
(11) | Henry Hub Natural Gas Swap Future | (116 | ) | 1/30/14 | 1 | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 86 | 1/28/16 | (2 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 86 | 1/30/17 | — | ||||||||||||
7 | Henry Hub Natural Gas Swap Future | 77 | 1/30/18 | (1 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future | 76 | 2/27/18 | (2 | ) | |||||||||||
(4) | Henry Hub Natural Gas Swap Future | (42 | ) | 2/27/14 | — | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 85 | 2/26/16 | (2 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 85 | 2/27/17 | (1 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future | 71 | 3/28/18 | (7 | ) | |||||||||||
(4) | Henry Hub Natural Gas Swap Future | (41 | ) | 3/28/14 | 1 | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 80 | 3/30/16 | (2 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 80 | 3/30/17 | (6 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future | 71 | 4/27/18 | (7 | ) | |||||||||||
(4) | Henry Hub Natural Gas Swap Future | (41 | ) | 4/29/14 | 1 | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 80 | 4/28/16 | (2 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 80 | 4/27/17 | (5 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future | 72 | 5/30/18 | (6 | ) | |||||||||||
(4) | Henry Hub Natural Gas Swap Future | (41 | ) | 5/29/14 | 1 |
See accompanying notes to financial statements.
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Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Long/(Short) Futures (continued)
Number of Contracts | Futures Contracts Positionsˆ | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
8 | Henry Hub Natural Gas Swap Future | $ | 81 | 5/27/16 | $ | (2 | ) | |||||||||
8 | Henry Hub Natural Gas Swap Future | 81 | 5/29/17 | (5 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future | 72 | 6/28/18 | (6 | ) | |||||||||||
(4) | Henry Hub Natural Gas Swap Future | (41 | ) | 6/27/14 | 1 | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 81 | 6/29/16 | (2 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 81 | 6/29/17 | (4 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future | 72 | 7/30/18 | (5 | ) | |||||||||||
(4) | Henry Hub Natural Gas Swap Future | (42 | ) | 7/30/14 | — | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 81 | 7/28/16 | (2 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 82 | 7/28/17 | (4 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future | 72 | 8/30/18 | (5 | ) | |||||||||||
(4) | Henry Hub Natural Gas Swap Future | (41 | ) | 8/28/14 | 1 | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 81 | 8/30/16 | (3 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 82 | 8/30/17 | (4 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future | 73 | 9/27/18 | (5 | ) | |||||||||||
(4) | Henry Hub Natural Gas Swap Future | (42 | ) | 9/29/14 | — | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 82 | 9/29/16 | (3 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 82 | 9/28/17 | (4 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future | 74 | 10/30/18 | (4 | ) | |||||||||||
(4) | Henry Hub Natural Gas Swap Future | (42 | ) | 10/30/14 | — | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 83 | 10/28/16 | (3 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 84 | 10/30/17 | (2 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future | 77 | 11/29/18 | (1 | ) | |||||||||||
(4) | Henry Hub Natural Gas Swap Future | (43 | ) | 11/26/14 | (1 | ) | ||||||||||
8 | Henry Hub Natural Gas Swap Future | 85 | 11/29/16 | (4 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future | 87 | 11/29/17 | 1 | ||||||||||||
(3) | Lean Hogs Future | (103 | ) | 2/18/14 | 5 | |||||||||||
24 | Lean Hogs Future | 870 | 4/15/14 | (5 | ) | |||||||||||
2 | Live Cattle Future | 108 | 3/3/14 | — | ||||||||||||
44 | Live Cattle Future | 2,381 | 5/1/14 | 8 | ||||||||||||
120 | Live Cattle Future | 6,212 | 7/1/14 | (11 | ) | |||||||||||
96 | London Metal Exchange Lead Future | 5,326 | 3/18/14 | 287 | ||||||||||||
(8) | Natural Gas Future | (262 | ) | 3/31/14 | (16 | ) | ||||||||||
(8) | Natural Gas Future | (266 | ) | 4/30/14 | (12 | ) | ||||||||||
(9) | Natural Gas Future | (285 | ) | 5/30/14 | (9 | ) | ||||||||||
118 | Natural Gas Future | 5,190 | 12/30/14 | (26 | ) | |||||||||||
50 | Natural Gas Future | 2,115 | 1/30/14 | 211 | ||||||||||||
(10) | Natural Gas Future | (419 | ) | 2/27/14 | — | |||||||||||
(5) | Natural Gas Future | (215 | ) | 2/26/15 | 5 | |||||||||||
(136) | Natural Gas Future | (5,583 | ) | 3/28/14 | 8 | |||||||||||
78 | Natural Gas Future | 3,202 | 3/28/14 | (53 | ) | |||||||||||
(19) | Natural Gas Future | (766 | ) | 3/20/15 | 4 | |||||||||||
24 | Natural Gas Future | 963 | 4/29/15 | (4 | ) | |||||||||||
8 | Natural Gas Future | 329 | 5/29/14 | (6 | ) | |||||||||||
24 | Natural Gas Future | 974 | 7/30/15 | 3 | ||||||||||||
81 | Natural Gas Future | 3,371 | 9/29/14 | 7 | ||||||||||||
(24) | Natural Gas Future | (978 | ) | 9/29/15 | (2 | ) | ||||||||||
65 | Natural Gas Future | 2,803 | 11/26/14 | (49 | ) | |||||||||||
8 | Natural Gas Future | 87 | 12/30/15 | (2 | ) |
See accompanying notes to financial statements.
74
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Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Long/(Short) Futures (continued)
Number of Contracts | Futures Contracts Positionsˆ | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
8 | Natural Gas Future | $ | 87 | 12/29/16 | $ | 1 | ||||||||||
7 | Natural Gas Future | 77 | 12/28/17 | — | ||||||||||||
21 | New York Harbor ULSD Future | 2,704 | 2/3/14 | — | ||||||||||||
15 | NYMEX Palladium Future | 1,077 | 3/28/14 | (17 | ) | |||||||||||
150 | NYMEX WTI Crude Future | 14,763 | 1/22/14 | 114 | ||||||||||||
(14) | NYMEX WTI Crude Future | (1,362 | ) | 5/21/14 | (9 | ) | ||||||||||
105 | NYMEX WTI Crude Future | 10,214 | 5/21/14 | 177 | ||||||||||||
(7) | NYMEX WTI Crude Future | (622 | ) | 5/20/15 | 6 | |||||||||||
14 | NYMEX WTI Crude Future | 1,223 | 8/21/15 | (13 | ) | |||||||||||
14 | NYMEX WTI Crude Future | 1,298 | 11/21/14 | 14 | ||||||||||||
(7) | NYMEX WTI Crude Future | (604 | ) | 11/23/15 | 8 | |||||||||||
118 | Platinum Future | 8,105 | 4/29/14 | (15 | ) | |||||||||||
227 | Primary Aluminum Future | 10,185 | 3/18/14 | 144 | ||||||||||||
108 | Primary Nickel Future | 9,001 | 3/18/14 | (3 | ) | |||||||||||
14 | Rapeseed Future | 352 | 5/1/14 | 1 | ||||||||||||
17 | Red Spring Wheat Future | 540 | 3/17/14 | (66 | ) | |||||||||||
(1) | Rotterdam Fuel Oil Swap Future | (19 | ) | 2/3/14 | (3 | ) | ||||||||||
(1) | Rotterdam Fuel Oil Swap Future | (18 | ) | 3/3/14 | (3 | ) | ||||||||||
(1) | Rotterdam Fuel Oil Swap Future | (18 | ) | 4/1/14 | (3 | ) | ||||||||||
47 | Silver Future | 4,552 | 3/28/14 | (316 | ) | |||||||||||
(51) | Soybean Future | (3,296 | ) | 3/17/14 | 92 | |||||||||||
(5) | Soybean Future | (323 | ) | 3/17/14 | — | |||||||||||
45 | Soybean Future | 2,873 | 5/15/14 | (27 | ) | |||||||||||
(10) | Soybean Meal Future | (417 | ) | 3/17/14 | 15 | |||||||||||
(23) | Sugar #11 Future | (423 | ) | 3/3/14 | 45 | |||||||||||
331 | Sugar #11 Future | 6,084 | 3/3/14 | (322 | ) | |||||||||||
(21) | Wheat Future | (636 | ) | 3/17/14 | 65 | |||||||||||
(63) | Wheat Future | (1,907 | ) | 3/17/14 | 156 | |||||||||||
23 | White Sugar Future | 516 | 2/14/14 | (21 | ) | |||||||||||
11 | WTI Crude Future | 996 | 2/20/15 | (3 | ) | |||||||||||
1 | WTI Crude Future | 97 | 5/20/14 | — | ||||||||||||
25 | WTI Crude Future | 2,369 | 8/20/14 | 16 | ||||||||||||
3 | WTI Crude Future | 278 | 11/20/14 | 3 | ||||||||||||
112 | Zinc Future | 5,762 | 3/18/14 | 377 | ||||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | (935 | ) |
ˆ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
75
HC CAPITAL TRUST
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Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Currency Contracts
Contract Amount (Local Currency) | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/13 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Purchased | ||||||||||||||||||||||||
85,313 | Australian Dollar | JPMorgan Chase | 1/6/14 | $ | 76 | $ | 76 | $ | — | |||||||||||||||
429,939 | Brazilian Real | Deutsche Bank | 1/3/14 | 190 | 182 | (8 | ) | |||||||||||||||||
1,199,585 | Brazilian Real | Credit Suisse | 1/3/14 | 510 | 508 | (2 | ) | |||||||||||||||||
1,629,524 | Brazilian Real | Deutsche Bank | 2/4/14 | 697 | 684 | (13 | ) | |||||||||||||||||
162,000 | Canadian Dollar | Standard Chartered | 3/20/14 | 151 | 152 | 1 | ||||||||||||||||||
4,153,000 | Euro | Credit Suisse | 1/2/14 | 5,675 | 5,712 | 37 | ||||||||||||||||||
608,000 | Euro | JPMorgan Chase | 2/4/14 | 837 | 836 | (1 | ) | |||||||||||||||||
6,476,058 | Japanese Yen | Barclays Bank | 1/6/14 | 62 | 62 | — | ||||||||||||||||||
4,588,531 | Mexican Peso | Deutsche Bank | 3/6/14 | 355 | 350 | (5 | ) | |||||||||||||||||
Total Currencies Purchased | $ | 8,553 | $ | 8,562 | $ | 9 | ||||||||||||||||||
Currencies Sold | ||||||||||||||||||||||||
32,000 | Australian Dollar | Barclays Bank | 1/6/14 | $ | 29 | $ | 29 | $ | — | |||||||||||||||
1,629,524 | Brazilian Real | Deutsche Bank | 1/3/14 | 703 | 690 | 13 | ||||||||||||||||||
1,137,000 | British Pound Sterling | Barclays Bank | 3/12/14 | 1,860 | 1,881 | (21 | ) | |||||||||||||||||
387,000 | Canadian Dollar | Deutsche Bank | 3/20/14 | 363 | 364 | (1 | ) | |||||||||||||||||
204,000 | Euro | Deutsche Bank | 1/2/14 | 274 | 280 | (6 | ) | |||||||||||||||||
109,000 | Euro | JPMorgan Chase | 2/4/14 | 150 | 150 | — | ||||||||||||||||||
251,000 | Euro | Barclays Bank | 2/4/14 | 345 | 345 | — | ||||||||||||||||||
4,153,000 | Euro | Credit Suisse | 2/4/14 | 5,677 | 5,714 | (37 | ) | |||||||||||||||||
1,080,000 | Euro | Deutsche Bank | 2/4/14 | 1,488 | 1,486 | 2 | ||||||||||||||||||
3,949,000 | Euro | JPMorgan Chase | 1/2/14 | 5,314 | 5,432 | (118 | ) | |||||||||||||||||
3,700,000 | Japanese Yen | Deutsche Bank | 2/18/14 | 37 | 35 | 2 | ||||||||||||||||||
Total Currencies Sold | $ | 16,240 | $ | 16,406 | $ | (166 | ) | |||||||||||||||||
Net Unrealized/Appreciation (Depreciation) | $ | (157 | ) |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
76
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Written Options
Number of Contracts | Security Description | Exercise Price | Premium (000) | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
(1) | Call – Heating Oil Future Option | $ | 330 | $ | (2 | ) | $ | — | 1/2/14 | $ | 2 | |||||||||||||
(2) | Call – NY Harbor Heating Oil Swap Future Option | 3 | (4 | ) | — | 1/2/14 | 4 | |||||||||||||||||
(1) | Put – WTI Brent Future Option | (15 | ) | (1 | ) | — | 1/16/14 | 1 | ||||||||||||||||
(1) | Put – WTI Brent Spread Future Option | (13 | ) | (1 | ) | (1 | ) | 1/16/14 | — | |||||||||||||||
(1) | Call – WTI Brent Spread Future Option | (7 | ) | (1 | ) | — | 1/16/14 | 1 | ||||||||||||||||
(1) | Call – WTI Brent Future Option | (9 | ) | (1 | ) | — | 1/16/14 | 1 | ||||||||||||||||
(4) | Call – WTI Brent Spread Future Option | (8 | ) | (4 | ) | (1 | ) | 1/16/14 | 3 | |||||||||||||||
(4) | Call – Crude Oil Future Option | 102 | (1 | ) | (1 | ) | 1/16/14 | — | ||||||||||||||||
(2) | Put – Crude Oil Future Option | 93 | (1 | ) | — | 1/16/14 | 1 | |||||||||||||||||
(4) | Put – WTI Brent Spread Future Option | (14 | ) | (4 | ) | (3 | ) | 1/16/14 | 1 | |||||||||||||||
(290) | Put Option on Interest Rate Swap, with Goldman Sachs International, based on the U.S. Dollar 5-Year Interest | 2 | (14 | ) | (4 | ) | 1/28/14 | 10 | ||||||||||||||||
(290) | Call Option on Interest Rate Swap, with Goldman Sachs International, based on the U.S. Dollar 5-Year Interest | 1 | (6 | ) | — | 1/28/14 | 6 | |||||||||||||||||
(300) | Put – London Platinum & Palladium Market Index Option | (3 | ) | (25 | ) | — | 3/4/14 | 25 | ||||||||||||||||
(150) | Put – London Platinum & Palladium Market Index Option | — | (13 | ) | — | 3/5/14 | 13 | |||||||||||||||||
(12) | Call – NYM WTI Brent spread Future Option | (6 | ) | (22 | ) | (11 | ) | 5/15/14 | 11 | |||||||||||||||
(7) | Put – Sugar NO. 11 Future Option | 14 | (1 | ) | (1 | ) | 9/16/14 | — | ||||||||||||||||
(300) | Put – Spread between the Platinum and Gold Indices Future Option | — | (15 | ) | (6 | ) | 10/2/14 | 9 | ||||||||||||||||
(100) | Put – Spread between the Platinum and Gold Indices Future Option | — | (5 | ) | (2 | ) | 10/3/14 | 3 | ||||||||||||||||
(4) | Call – WTI Brent Spread Future Option | (2 | ) | (3 | ) | (2 | ) | 11/13/14 | 1 | |||||||||||||||
(11) | Call – Electrolytic Copper Future Option | 9,000 | (204 | ) | (25 | ) | 12/4/14 | 179 | ||||||||||||||||
(5) | Put – Crude Oil Future Option | 70 | (37 | ) | (12 | ) | 11/18/15 | 25 | ||||||||||||||||
(50) | Put – Inflation Floor USD CPURNSA Index Option | — | (5 | ) | (2 | ) | 1/12/18 | 3 | ||||||||||||||||
(50) | Put – Inflation Floor USD CPURNSA Index Option | — | (5 | ) | (2 | ) | 1/23/18 | 3 | ||||||||||||||||
Total | $ | (375 | ) | $ | (73 | ) | $ | 302 |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
77
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Swap Agreementsˆ
Notional Amount (000) | Swap Premiums Paid (000) | Amount at Value (000) | Expiration Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
Variance Swap Agreement with Deustche Bank, based on the LPH4 Index, 0.05% | $ | (100 | ) | $ | — | $ | (2 | ) | 3/4/14 | $ | (2 | ) | ||||||||
Variance Swap Agreement with JPMorgan Chase Bank, based on the Platinum Index, 0.08% | 170 | — | 7 | 9/30/14 | 7 | |||||||||||||||
Variance Swap Agreement with Goldman Sachs International, based on the Platinum Index, 0.05% | 290 | — | 1 | 8/6/14 | 1 | |||||||||||||||
Variance Swap Agreement with Deutsche Bank, based on the LPM4, 0.11% | 120 | — | (9 | ) | 6/4/14 | (9 | ) | |||||||||||||
Variance Swap Agreement with Deutsche Bank, based on the Platinum Index, 0.09% | 130 | — | 6 | 6/4/14 | 6 | |||||||||||||||
Variance Swap Agreement with Deustche Bank, based on the LAH4 Index, 0.04% | 100 | — | 2 | 3/4/14 | 2 | |||||||||||||||
Variance Swap Agreement with Deustche Bank, based on the LAH4 Index, 0.04% | 69 | — | 1 | 3/4/14 | 1 | |||||||||||||||
Variance Swap Agreement with Deustche Bank, based on the LPH4 Index, 0.05% | (61 | ) | — | (1 | ) | 3/4/14 | (1 | ) | ||||||||||||
Variance Swap Agreement with Deustche Bank, based on the LAH4 Index, 0.04% | 160 | — | 3 | 3/4/14 | 3 | |||||||||||||||
Variance Swap Agreement with Deustche Bank, based on the LPH4 Index, 0.05% | (140 | ) | ��� | (3 | ) | 3/4/14 | (3 | ) | ||||||||||||
Variance Swap Agreement with Goldman Sachs International, based on the Platinum Index, 0.05% | 320 | — | 7 | 1/9/14 | 7 | |||||||||||||||
Variance Swap Agreement with Goldman Sachs International, based on the Platinum Index, 0.06% | 160 | — | — | 11/25/15 | — | |||||||||||||||
Variance Swap Agreement with Goldman Sachs International, based on the Platinum Index, 0.11% | (120 | ) | — | (2 | ) | 11/25/15 | (2 | ) | ||||||||||||
Variance Swap Agreement with JPMorgan Chase Bank, based on the Platinum Index, 0.05% | 1,640 | — | (10 | ) | 6/5/14 | (10 | ) | |||||||||||||
Variance Swap Agreement with JPMorgan Chase Bank, based on the Natural Gas Index, 0.18% | 58 | — | 2 | 1/28/14 | 2 | |||||||||||||||
Variance Swap Agreement with Goldman Sachs International, based on the S&P 500 Index, 0.04% | 600 | — | 3 | 10/17/14 | 3 | |||||||||||||||
Variance Swap Agreement with Goldman Sachs International, based on the S&P 500 Index, 0.03% | 285 | — | 2 | 3/21/14 | 2 | |||||||||||||||
Commodity Swap Agreement with JPMorgan Chase Bank, based on the Dow-Jones UBS Commodity Total Return Index | 2,832 | — | (9 | ) | 2/18/14 | (9 | ) | |||||||||||||
Commodity Swap Agreement with JPMorgan Chase Bank, based on the Dow-Jones UBS Commodity Total Return Index | 39,425 | (9 | ) | (187 | ) | 2/18/14 | (178 | ) | ||||||||||||
Commodity Swap Agreement with Canadian Imperial Bank of Commerce, based on the Dow-Jones UBS Commodity Total Return Index | 840 | 12 | (4 | ) | 2/18/14 | (16 | ) | |||||||||||||
Commodity Swap Agreement with JPMorgan Chase Bank, based on the Dow-Jones UBS Commodity Total Return Index | 3,245 | — | (10 | ) | 2/18/14 | (10 | ) | |||||||||||||
Commodity Swap Agreement with JPMorgan Chase Bank, based on the TBL/JMABNICO | 510 | — | (2 | ) | 2/18/14 | (2 | ) | |||||||||||||
Commodity Swap Agreement with Goldman Sachs International, based on the Dow-Jones UBS Commodity Total Return Index | 1,749 | — | (8 | ) | 2/18/14 | (8 | ) |
See accompanying notes to financial statements.
78
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Swap Agreementsˆ (continued)
Notional Amount (000) | Swap Premiums Paid (000) | Amount at Value (000) | Expiration Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
Commodity Swap Agreement with Deutsche Bank, based on the Dow-Jones UBS Commodity Total Return Index | $ | 122,029 | $ | (62 | ) | $ | (574 | ) | 2/18/14 | $ | (512 | ) | ||||||||
Commodity Swap Agreement with JPMorgan Chase Bank, based on the Dow-Jones UBS Commodity Total Return Index | 18,344 | (44 | ) | (84 | ) | 2/18/14 | (40 | ) | ||||||||||||
Commodity Swap Agreement with JPMorgan Chase Bank, based on the TBL/JMABNICP | 3,287 | 17 | (7 | ) | 2/18/14 | (24 | ) | |||||||||||||
Commodity Swap Agreement with JPMorgan Chase Bank, based on the Dow-Jones UBS Commodity Total Return Index | (481 | ) | — | (6 | ) | 2/18/14 | (6 | ) | ||||||||||||
Commodity Swap Agreement with JPMorgan Chase Bank, based on the Dow-Jones UBS Commodity Total Return Index | 499 | — | 6 | 2/18/14 | 6 | |||||||||||||||
Commodity Swap Agreement with Deutsche Bank, based on the Wheat Index, $711 | — | — | 7 | 11/21/14 | 7 | |||||||||||||||
Commodity Swap Agreement with Goldman Sachs International, based on the sperad between Rotterdam Fuel Oil and Brent Crude Oil Indices, $(9.88) | (6 | ) | — | 41 | 12/31/14 | 41 | ||||||||||||||
Commodity Swap Agreement with Goldman Sachs International, based on the spread between Eurpoean Gasoil and Brent Crude Oil Indices, $17.18 | (6 | ) | — | 4 | 12/31/14 | 4 | ||||||||||||||
Commodity Swap Agreement with Goldman Sachs International, based on the sperad between Rotterdam Fuel Oil and Brent Crude Oil Indices, $(9.90) | (6 | ) | — | 40 | 12/31/14 | 40 | ||||||||||||||
Commodity Swap Agreement with Goldman Sachs International, based on the spread between European Gasoil and Brent Crude Oil Indices, $17.10 | (6 | ) | — | 4 | 12/31/14 | 4 | ||||||||||||||
Commodity Swap Agreement with Deutsche Bank, based on the W n4 Index, $696.50 | — | — | 8 | 6/20/14 | 8 | |||||||||||||||
Commodity Swap Agreement with Deutsche Bank, based on the W H5 Index, $714.50 | — | — | (5 | ) | 2/19/15 | (5 | ) | |||||||||||||
Commodity Swap Agreement with Deutsche Bank, based on the W H5 Index, $714.50 | — | — | (5 | ) | 2/19/15 | (5 | ) | |||||||||||||
Commodity Swap Agreement with Deutsche Bank, based on the LLSBRT Index, $(10.25) | 2,338 | — | 16 | 12/31/14 | 16 | |||||||||||||||
Total Return Swap Agreement with JPMorgan Chase Bank, based on the S&P GSCI Grains Index | 3,714 | — | (108 | ) | 8/29/14 | (108 | ) | |||||||||||||
Total Return Swap Agreement with JPMorgan Chase Bank, based on the S&P GSCI Agriculture Index | 1 | — | (58 | ) | 3/28/14 | (58 | ) | |||||||||||||
Interest Rate Swap Agreement with Credit Suisse, based on the London Interbank Offer Rate Index, 1.00% (a) | 290,000 (JPY) | (6 | ) | — | 9/18/23 | 6 | ||||||||||||||
Interest Rate Swap Agreement with Goldman Sachs International, based on the Brazil Cetip Interbank Deposit Rate Index, 9.10% (b) | 16,000 (BRL) | — | (415 | ) | 1/2/17 | (415 | ) | |||||||||||||
Interest Rate Swap Agreement with Goldman Sachs International, based on the Mexico Interbank Equilibrium Intrest Rate Index, 9.10% (b) | 10,000 (MXN) | (17 | ) | (23 | ) | 9/1/23 | (6 | ) | ||||||||||||
Interest Rate Swap Agreement with Deutesche Bank, based on the Mexico Interbank Equilibrium Intrest Rate Index, 6.35% (b) | 11,000 (MXN) | (19 | ) | (26 | ) | 9/1/23 | (7 | ) | ||||||||||||
Interest Rate Swap Agreement with Citibank, NA, based on the Bank Bill Interest Rate Index, 4.00% (b) | 4,600 (AUD) | (29 | ) | — | 6/8/19 | 29 |
See accompanying notes to financial statements.
79
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
Swap Agreementsˆ (continued)
Notional Amount (000) | Swap Premiums Paid (000) | Amount at Value (000) | Expiration Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
Interest Rate Swap Agreement with Barclays Bank, based on the Brazil Cetip Interbank Deposit Rate Index, 12.26% (b) | 7,900 (BRL) | $ | 9 | $ | 7 | 1/2/17 | $ | (2 | ) | |||||||||||
Interest Rate Swap Agreement with Barclays Bank, based on the Mexico Interbank Equilibrium Intrest Rate Index, 6.35% (a) | 13,000 (MXN) | (21 | ) | (31 | ) | 9/1/23 | (10 | ) | ||||||||||||
Interest Rate Swap Agreement with Deutesche Bank, based on the CPI Urban Consumers NSA, 1.50% (b) | $ | 500 | 3 | (11 | ) | 7/15/22 | (14 | ) | ||||||||||||
$ | (166 | ) | $ | (1,433 | ) | $ | (1,267 | ) |
Amounts designated as “—” are $0 or have been rounded to $0.
ˆ | Cash has been pledged as collateral for swap agreements held by the Portfolio. |
(a) | The Portfolio makes periodic payments when credit spreads, as represented by the Reference Entity, widen. |
(b) | The Portfolio receives periodic payments when credit spreads, as represented by the Reference Entity, widen. |
(c) | The Portfolio receives based on stated index and pays the fixed rate. |
See accompanying notes to financial statements.
80
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||||||
Common Stocks — 90.87% | ||||||||||||
Australia — 2.64% | ||||||||||||
31,372 | AGL Energy Ltd. (Multi-Utilities) | $ | 421 | |||||||||
54,585 | Amcor Ltd. (Paper Packaging) | 514 | ||||||||||
164,411 | AMP Ltd. (Life & Health Insurance) | 644 | ||||||||||
45,300 | APA Group (Gas Utilities) | 243 | ||||||||||
10,598 | ASX Ltd. (Specialized Finance) | 348 | ||||||||||
156,030 | Australia & New Zealand Banking Group Ltd. (Diversified Banks) | 4,489 | ||||||||||
16,181 | Bank of Queensland Ltd. (Commercial Banks) | 176 | ||||||||||
26,615 | Bendigo & Adelaide Bank Ltd. (Regional Banks) | 279 | ||||||||||
225,974 | CFS Retail Property Trust (Retail Real Estate Investment Trusts) | 392 | ||||||||||
221,316 | Coca-Cola Amatil Ltd. (Soft Drinks) | 2,377 | ||||||||||
93,205 | Commonwealth Bank of Australia (Diversified Banks) | 6,472 | ||||||||||
517,982 | Dexus Property Group (Diversified Real Estate Investment Trusts) | 465 | ||||||||||
152,818 | Federation Centres (Retail Real Estate Investment Trusts) | 319 | ||||||||||
189,330 | GPT Group (Diversified Real Estate Investment Trusts) | 575 | ||||||||||
68,593 | Iluka Resources Ltd. (Diversified Metals & Mining) | 528 | ||||||||||
372,402 | Incitec Pivot Ltd. (Fertilizers & Agricultural Chemicals) | 891 | ||||||||||
111,271 | Insurance Australia Group Ltd. (Insurance) | 578 | ||||||||||
196,498 | Metcash Ltd. (Food Distributors) | 554 | ||||||||||
392,068 | Mirvac Group (Diversified Real Estate Investment Trusts) | 588 | ||||||||||
133,179 | National Australia Bank Ltd. (Diversified Banks) | 4,141 | ||||||||||
9,274 | Newcrest Mining Ltd. (Gold) | 65 | ||||||||||
54,585 | Orora Ltd. (Containers & Packaging) (a) | 57 | ||||||||||
115,302 | SP AusNet (Electric Utilities) | 128 | ||||||||||
246,812 | Stockland Trust Group (Diversified Real Estate Investment Trusts) | 795 | ||||||||||
48,818 | Sydney Airport (Airport Services) | 166 | ||||||||||
170,103 | Tabcorp Holdings Ltd. (Casinos & Gaming) | 551 | ||||||||||
317,390 | Tatts Group Ltd. (Casinos & Gaming) | 879 | ||||||||||
492,965 | Telstra Corp. Ltd. (Integrated Telecommunication Services) | 2,310 | ||||||||||
152,697 | Toll Holdings Ltd. (Air Freight & Logistics) | 774 | ||||||||||
313,030 | Transurban Group (Highways & Railtracks) | 1,911 | ||||||||||
223,125 | Westfield Group (Retail Real Estate Investment Trusts) | 2,010 | ||||||||||
326,929 | Westfield Retail Trust (Retail Real Estate Investment Trusts) | 867 | ||||||||||
177,949 | Westpac Banking Corp. (Diversified Banks) | 5,144 | ||||||||||
47,215 | WorleyParsons Ltd. (Oil & Gas Equipment & Services) | 700 | ||||||||||
41,351 |
Shares | Security Description | Value (000) | ||||||
Austria — 0.13% | ||||||||
92,400 | Immofinanz AG (Real Estate Operating Companies) | $ | 428 | |||||
25,231 | OMV AG (Integrated Oil & Gas) | 1,208 | ||||||
2,511 | Raiffeisen Bank International AG (Commercial Banks) | 88 | ||||||
6,417 | Vienna Insurance Group Wiener Staedtische Versicherung AG (Multi-line Insurance) | 320 | ||||||
2,044 | ||||||||
Belgium — 1.39% | ||||||||
14,598 | Ageas (Multi-line Insurance) | 622 | ||||||
68,485 | Anheuser-Busch InBev NV (Brewers) | 7,277 | ||||||
17,574 | Belgacom SA (Integrated Telecommunication Services) | 520 | ||||||
23,553 | Delhaize Group (Food Retail) | 1,400 | ||||||
4,995 | Groupe Bruxelles Lambert SA (Multi-Sector Holdings) | 459 | ||||||
52,703 | KBC Groep NV (Commercial Banks) (b) | 2,991 | ||||||
10,538 | Solvay SA (Diversified Chemicals) | 1,667 | ||||||
47,743 | Telenet Group Holding NV (Alternative Carriers) | 2,849 | ||||||
36,725 | UCB SA (Pharmaceuticals) | 2,735 | ||||||
26,344 | Umicore SA (Specialty Chemicals) | 1,230 | ||||||
21,750 | ||||||||
Bermuda — 0.24% | ||||||||
29,750 | Kerry Logistics Network Ltd. (Air Freight & Logistics) (a) | 42 | ||||||
92,383 | Seadrill Ltd. (Oil & Gas Drilling) | 3,773 | ||||||
3,815 | ||||||||
Brazil — 0.09% | ||||||||
38,140 | Banco Bradesco SA – Sponsored ADR (Diversified Banks) | 478 | ||||||
117,900 | Hypermarcas SA (Personal Products) | 882 | ||||||
1,360 | ||||||||
Canada — 1.13% | ||||||||
12,900 | Bank of Nova Scotia (Commercial Banks) | 807 | ||||||
46,600 | CAE, Inc. (Aerospace & Defense) | 593 | ||||||
31,300 | Cameco Corp. (Coal & Consumable Fuels) | 650 | ||||||
15,052 | Canadian Pacific Railway Ltd. (Railroads) | 2,278 | ||||||
60,300 | Cenovus Energy, Inc. (Integrated Oil & Gas) | 1,726 | ||||||
74,900 | Centerra Gold, Inc. (Metals & Mining) | 305 | ||||||
95,400 | Centerra Gold, Inc. (Gold) | 388 | ||||||
33,100 | Enbridge, Inc. (Oil & Gas Storage & Transportation) | 1,446 | ||||||
133,984 | First Quantum Minerals Ltd. (Diversified Metals & Mining) | 2,414 | ||||||
140,100 | Imperial Oil Ltd. (Integrated Oil & Gas) | 6,204 | ||||||
32,600 | Progressive Waste Solutions Ltd. (Environmental & Facilities Services) | 807 | ||||||
17,618 | ||||||||
Cayman Islands — 0.09% | ||||||||
204,000 | China Mengniu Dairy Co. Ltd. (Food Products) | 968 | ||||||
162,500 | Stella International Holdings Ltd. (Footwear) | 414 | ||||||
1,382 |
See accompanying notes to financial statements.
81
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
China — 1.55% | ||||||||
58,328 | Baidu, Inc. – Sponsored ADR (Internet Software & Services) (a) | $ | 10,375 | |||||
1,526,613 | Bank of China Ltd., H Shares (Diversified Banks) | 703 | ||||||
260,200 | China Pacific Insurance Group Co. Ltd. (Multi-line Insurance) | 1,020 | ||||||
924,654 | China Resources Land Ltd. (Real Estate Development) | 2,292 | ||||||
3,899,058 | Industrial & Commercial Bank of China Ltd., H Shares (Diversified Banks) | 2,635 | ||||||
18,000 | Jardine Matheson Holdings Ltd. (Industrial Conglomerates) | 942 | ||||||
432,000 | PICC Property & Casualty Co. Ltd., H Shares (Property & Casualty Insurance) | 641 | ||||||
45,000 | Ping An Insurance Group Co. of China (Insurance) | 403 | ||||||
49,547 | Tencent Holdings Ltd. (Internet Software & Services) | 3,160 | ||||||
621,500 | Yue Yuen Industrial (Holdings) Ltd. (Footwear) | 2,076 | ||||||
24,247 | ||||||||
Curaçao — 0.15% | ||||||||
25,707 | Schlumberger Ltd. (Oil & Gas Equipment & Services) | 2,316 | ||||||
Denmark — 0.77% | ||||||||
78 | A.P. Moller – Maersk A/S, Class – A (Marine) | 804 | ||||||
196 | A.P. Moller – Maersk A/S, Class – B (Marine) | 2,127 | ||||||
41,052 | Novo Nordisk A/S, ADR (Pharmaceuticals) | 7,526 | ||||||
7,031 | Rockwool International A/S, B Shares (Building Products) | 1,245 | ||||||
24,784 | TDC A/S (Integrated Telecommunication Services) | 240 | ||||||
990 | Tryg A/S (Insurance) | 96 | ||||||
12,038 | ||||||||
Finland — 0.60% | ||||||||
9,436 | Elisa Oyj (Integrated Telecommunication Services) | 250 | ||||||
15,432 | Fortum Oyj (Electric Utilities) | 353 | ||||||
17,311 | Metso OYJ (Machinery) | 739 | ||||||
9,671 | Nokian Renkaat Oyj (Auto Components) | 464 | ||||||
13,592 | Orion Oyj, Class – B (Integrated Oil & Gas) | 382 | ||||||
106,778 | Sampo Oyj, A Shares (Multi-line Insurance) | 5,246 | ||||||
75,620 | Stora Enso Oyj, R Shares (Paper Products) | 759 | ||||||
73,120 | UPM-Kymmene Oyj (Paper Products) | 1,235 | ||||||
9,428 | ||||||||
France — 9.02% | ||||||||
200,258 | AXA SA (Multi-line Insurance) | 5,567 | ||||||
175,391 | BNP Paribas (Diversified Banks) | 13,668 | ||||||
42,190 | Bouygues SA (Construction & Engineering) | 1,591 | ||||||
32,882 | Casino Guichard-Perrachon SA (Food Retail) | 3,789 | ||||||
8,345 | CNP Assurances (Insurance) | 171 | ||||||
113,119 | Compagnie de Saint-Gobain (Building Products) | 6,220 | ||||||
10,790 | Credit Agricole SA (Diversified Banks) (a) | 138 | ||||||
18,029 | Danone SA (Packaged Foods & Meats) | 1,298 |
Shares | Security Description | Value (000) | ||||||
France (continued) | ||||||||
12,987 | Electricite de France SA (Electric Utilities) | $ | 459 | |||||
31,031 | Eutelsat Communications (Media) | 967 | ||||||
2,324 | Fonciere des Regions (Diversified Real Estate Investment Trusts) | 201 | ||||||
168,152 | GDF Suez (Multi-Utilities) | 3,954 | ||||||
1,678 | Gecina SA (Diversified Real Estate Investment Trusts) | 221 | ||||||
2,523 | Icade (Real Estate Investment Trusts (REITs)) | 235 | ||||||
28,043 | JC Decaux SA (Advertising) | 1,156 | ||||||
7,618 | Klepierre (Retail Real Estate Investment Trusts) | 353 | ||||||
23,581 | Lagardere SCA (Publishing) | 876 | ||||||
102,399 | Legrand SA (Electrical Components & Equipment) | 5,643 | ||||||
3,846 | L'Oreal SA (Personal Products) | 676 | ||||||
13,918 | LVMH Moet Hennessy Louis Vuitton SA (Apparel, Accessories & Luxury Goods) | 2,539 | ||||||
17,342 | Numericable Group SA (Media) (a)(b) | 630 | ||||||
141,620 | Orange (Diversified Telecommunication Services) | 1,753 | ||||||
71,131 | Pernod Ricard SA (Distillers & Vintners) | 8,103 | ||||||
111,558 | Psa Peugeot Citroen (Automobiles) (a) | 1,448 | ||||||
20,704 | Renault SA (Automobile Manufacturers) | 1,665 | ||||||
32,754 | Rexel SA (Trading Companies & Distributors) | 859 | ||||||
175,263 | Sanofi-Aventis (Pharmaceuticals) | 18,594 | ||||||
110,326 | Schneider Electric SA (Electrical Components & Equipment) | 9,622 | ||||||
8,373 | SCOR SE (Reinsurance) | 306 | ||||||
44,298 | Societe Generale (Diversified Banks) | 2,573 | ||||||
14,554 | Suez Environnement Co. (Multi-Utilities) | 261 | ||||||
48,619 | Technip SA (Oil & Gas Equipment & Services) | 4,672 | ||||||
293,219 | Total SA (Integrated Oil & Gas) | 17,961 | ||||||
21,475 | Unibail-Rodamco SE (Retail Real Estate Investment Trusts) | 5,502 | ||||||
18,547 | Veolia Environnement (Multi-Utilities) | 302 | ||||||
100,560 | Vinci SA (Construction & Engineering) | 6,601 | ||||||
129,170 | Vivendi (Movies & Entertainment) | 3,404 | ||||||
40,249 | Zodiac Aerospace (Aerospace & Defense) | 7,128 | ||||||
141,106 | ||||||||
Germany — 9.59% | ||||||||
17,803 | Allianz SE (Multi-line Insurance) | 3,192 | ||||||
11,109 | Axel Springer AG (Publishing) | 714 | ||||||
99,355 | BASF SE (Diversified Chemicals) | 10,591 | ||||||
151,050 | Bayer AG (Pharmaceuticals) | 21,183 | ||||||
68,003 | Bayerische Motoren Werke AG (Automobile Manufacturers) | 7,972 | ||||||
44,850 | Beiersdorf AG (Personal Products) | 4,543 | ||||||
6,408 | Bilfinger Berger SE (Construction & Engineering) | 719 | ||||||
6,492 | Brenntag AG (Trading Companies & Distributors) | 1,203 | ||||||
263,789 | Daimler AG (Automobile Manufacturers) | 22,823 | ||||||
21,173 | Deutsche Bank AG (Diversified Capital Markets) | 1,010 | ||||||
7,534 | Deutsche Boerse AG (Specialized Finance) | 624 |
See accompanying notes to financial statements.
82
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Germany (continued) | ||||||||
226,044 | Deutsche Post AG (Air Freight & Logistics) (b) | $ | 8,240 | |||||
267,490 | Deutsche Telekom AG – Registered (Integrated Telecommunication Services) | 4,574 | ||||||
113,099 | Deutsche Wohnen AG (Real Estate Operating Companies) | 2,184 | ||||||
70,318 | E.ON AG (Electric Utilities) | 1,298 | ||||||
15,363 | ElringKlinger AG (Auto Parts & Equipment) | 625 | ||||||
2,355 | Hannover Rueckversicherung AG – Registered (Reinsurance) | 202 | ||||||
42,737 | HeidelbergCement AG (Construction Materials) | 3,242 | ||||||
4,950 | Hugo Boss AG (Apparel, Accessories & Luxury Goods) | 705 | ||||||
26,903 | K+S AG – Registered (Fertilizers & Agricultural Chemicals) | 828 | ||||||
67,869 | Linde AG (Industrial Gases) | 14,195 | ||||||
47,868 | MTU Aero Engines Holding AG (Aerospace & Defense) | 4,701 | ||||||
29,617 | Muenchener Rueckversicherungs-Gesellschaft AG (Reinsurance) | 6,525 | ||||||
17,087 | ProSiebenSat.1 Media AG – Registered (Broadcasting) | 846 | ||||||
19,106 | RWE AG (Multi-Utilities) | 699 | ||||||
53,767 | SAP AG (Application Software) | 4,609 | ||||||
145,926 | Siemens AG (Industrial Conglomerates) | 19,931 | ||||||
12,758 | Suedzucker AG (Food Products) | 344 | ||||||
21,808 | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | 180 | ||||||
11,974 | Wacker Chemie AG (Specialty Chemicals) | 1,324 | ||||||
149,826 | ||||||||
Hong Kong — 3.48% | ||||||||
3,269,380 | AIA Group Ltd. (Life & Health Insurance) (b) | 16,401 | ||||||
44,300 | Asm Pacific Technology Ltd. (Semiconductors & Semiconductor Equipment) | 371 | ||||||
447,500 | Beijing Enterprises Holdings Ltd. (Industrial Conglomerates) | 4,438 | ||||||
170,835 | BOC Hong Kong (Holdings) Ltd. (Diversified Banks) | 547 | ||||||
128,143 | Cheung Kong (Holdings) Ltd. (Diversified Real Estate Activities) | 2,023 | ||||||
138,759 | Cheung Kong Infrastructure Holdings Ltd. (Electric Utilities) | 876 | ||||||
568,000 | China Merchants Holdings (International) Co. Ltd. (Marine Ports & Services) | 2,073 | ||||||
81,675 | CLP Holdings Ltd. (Electric Utilities) | 646 | ||||||
3,171,000 | CNOOC Ltd. (Oil & Gas Exploration & Production) | 5,897 | ||||||
207,000 | Hang Lung Properties Ltd. (Real Estate Management & Development) | 654 | ||||||
35,345 | Hang Seng Bank Ltd. (Diversified Banks) | 574 | ||||||
1,556,000 | HKT Trust and HKT Ltd. (Integrated Telecommunication Services) | 1,537 | ||||||
216,768 | HongKong Land Holdings Ltd. (Real Estate Operating Companies) | 1,279 | ||||||
102,267 | Hopewell Holdings Ltd. (Diversified Real Estate Activities) | 346 |
Shares | Security Description | Value (000) | ||||||
Hong Kong (continued) | ||||||||
52,000 | Hysan Development Co. (Real Estate Management & Development) | $ | 224 | |||||
60,000 | Kerry Properties Ltd. (Real Estate Management & Development) | 208 | ||||||
528,000 | Li & Fung Ltd. (Distributors) | 681 | ||||||
8,800 | Melco Crown Entertainment Ltd., ADR (Hotels, Restaurants & Leisure) (a) | 345 | ||||||
111,500 | MTR Corp. Ltd. (Road & Rail) | 422 | ||||||
350,000 | New World Development Co. Ltd. (Diversified Real Estate Activities) | 442 | ||||||
370,000 | PCCW Ltd. (Integrated Telecommunication Services) | 166 | ||||||
64,047 | Power Assets Holdings Ltd. (Electric Utilities) | 509 | ||||||
316,800 | Sands China Ltd. (Casinos & Gaming) | 2,588 | ||||||
273,854 | Sino Land Co. Ltd. (Real Estate Development) | 374 | ||||||
688,194 | SJM Holdings Ltd. (Casinos & Gaming) | 2,308 | ||||||
148,256 | Sun Hung Kai Properties Ltd. (Diversified Real Estate Activities) | 1,880 | ||||||
88,450 | Swire Pacific Ltd., Class – A (Diversified Real Estate Activities) | 1,037 | ||||||
108,200 | Swire Properties Ltd. (Real Estate Management & Development) | 274 | ||||||
57,404 | The Bank of East Asia Ltd. (Diversified Banks) | 243 | ||||||
783,067 | The Link Real Estate Investment Trust (Retail Real Estate Investment Trusts) | 3,797 | ||||||
92,000 | The Wharf (Holdings) Ltd. (Diversified Real Estate Activities) | 704 | ||||||
133,200 | Wynn Macau Ltd. (Casinos & Gaming) | 604 | ||||||
54,468 | ||||||||
Indonesia — 0.10% | ||||||||
667,500 | PT Astra International Tbk (Automobile Manufacturers) | 373 | ||||||
1,898,000 | PT Bank Rakyat Indonesia Persero Tbk (Diversified Banks) | 1,132 | ||||||
1,505 | ||||||||
Ireland — 0.79% | ||||||||
84,766 | Covidien PLC (Health Care Equipment & Supplies) | 5,773 | ||||||
66,789 | CRH PLC (Construction Materials) | 1,681 | ||||||
78,236 | Glanbia PLC (Packaged Foods & Meats) | 1,212 | ||||||
31,200 | Ryanair Holdings PLC – Sponsored ADR (Airlines) (a) | 1,464 | ||||||
90,613 | Smurfit Kappa Group PLC (Paper Packaging) | 2,230 | ||||||
12,360 | ||||||||
Israel — 0.20% | ||||||||
179,721 | Bezeq The Israeli Telecommunication Corp. Ltd. (Diversified Telecommunication Services) | 305 | ||||||
761 | Delek Group Ltd. (Oil & Gas Refining & Marketing) | 291 | ||||||
88,004 | Israel Chemicals Ltd. (Fertilizers & Agricultural Chemicals) | 734 | ||||||
46,172 | Teva Pharmaceutical Industries Ltd. (Pharmaceuticals) | 1,847 | ||||||
3,177 |
See accompanying notes to financial statements.
83
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Italy — 0.72% | ||||||||
32,126 | Assicurazioni Generali SpA (Multi-line Insurance) | $ | 756 | |||||
43,554 | Atlantia SpA (Highways & Railtracks) | 977 | ||||||
216,592 | Enel SpA (Electric Utilities) | 946 | ||||||
318,633 | Eni SpA (Integrated Oil & Gas) | 7,665 | ||||||
65,938 | Snam Rete Gas SpA (Gas Utilities) | 369 | ||||||
379,298 | Telecom Italia SpA (Integrated Telecommunication Services) | 297 | ||||||
49,282 | Terna – Rete Elettrica Nationale SpA (Electric Utilities) | 246 | ||||||
11,256 | ||||||||
Japan — 15.45% | ||||||||
86,475 | Aeon Co. Ltd. (Hypermarkets & Super Centers) | 1,170 | ||||||
2,800 | Aeon Credit Service Co. Ltd. (Consumer Finance) | 75 | ||||||
27,568 | Aisin Seiki Co. Ltd. (Auto Parts & Equipment) | 1,118 | ||||||
53,000 | Ajinomoto Co., Inc. (Packaged Foods & Meats) | 767 | ||||||
6,206 | Alfresa Holdings Corp. (Health Care Distributors) | 308 | ||||||
36,000 | Aozora Bank Ltd. (Diversified Banks) | 102 | ||||||
144,851 | Asahi Glass Co. Ltd. (Building Products) | 900 | ||||||
181,577 | Asahi Kasei Corp. (Commodity Chemicals) | 1,421 | ||||||
64,513 | Astellas Pharma, Inc. (Pharmaceuticals) | 3,817 | ||||||
10,951 | Benesse Holdings, Inc. (Education Services) | 439 | ||||||
31,800 | Brother Industries Ltd. (Office Electronics) | 434 | ||||||
164,913 | Canon, Inc. (Office Electronics) | 5,216 | ||||||
30,100 | Casio Computer Co. Ltd. (Consumer Electronics) | 368 | ||||||
31,346 | Chugai Pharmaceutical Co. Ltd. (Pharmaceuticals) | 692 | ||||||
9,744 | Coca-Cola West Co. Ltd. (Soft Drinks) | 206 | ||||||
80,592 | Dai Nippon Printing Co. Ltd. (Commercial Printing) | 855 | ||||||
28,826 | Daihatsu Motor Co. Ltd. (Automobile Manufacturers) | 488 | ||||||
96,902 | Daiichi Sankyo Co. Ltd. (Pharmaceuticals) | 1,770 | ||||||
4,904 | Daito Trust Construction Co. Ltd. (Diversified Real Estate Activities) | 458 | ||||||
40,000 | Daiwa House Industry Co. Ltd. (Diversified Real Estate Activities) | 773 | ||||||
141,100 | Denso Corp. (Auto Parts & Equipment) | 7,438 | ||||||
36,330 | Eisai Co. Ltd. (Pharmaceuticals) | 1,406 | ||||||
3,900 | Electric Power Development Co. Ltd. (Independent Power Producers & Energy Traders) | 114 | ||||||
11,100 | EXEDY Corp. (Auto Components) | 324 | ||||||
8,843 | FamilyMart Co. Ltd. (Food Retail) | 404 | ||||||
12,800 | Fanuc Ltd. (Industrial Machinery) | 2,340 | ||||||
27,000 | Fukuoka Financial Group, Inc. (Regional Banks) | 118 | ||||||
50,500 | Hamamatsu Photonics K.K. (Electronic Equipment, Instruments & Components) | 2,017 | ||||||
16,618 | Hitachi Chemical Co. Ltd. (Specialty Chemicals) | 265 | ||||||
814,000 | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | 6,153 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
41,936 | Hokuhoku Financial Group, Inc. (Commercial Banks) | $ | 84 | |||||
400,420 | Honda Motor Co. Ltd. (Automobile Manufacturers) | 16,466 | ||||||
62,622 | HOYA Corp. (Electronic Equipment, Instruments & Components) | 1,738 | ||||||
13,168 | Idemitsu Kosan Co. Ltd. (Oil & Gas Refining & Marketing) | 299 | ||||||
1,025,000 | IHI Corp. (Industrial Machinery) | 4,420 | ||||||
219,090 | ITOCHU Corp. (Trading Companies & Distributors) | 2,703 | ||||||
3,777 | ITOCHU Techno-Solutions Corp. (IT Consulting & Other Services) | 153 | ||||||
50 | Japan Prime Realty Investment Corp. (Office Real Estate Investment Trusts) | 160 | ||||||
78 | Japan Real Estate Investment Corp. (Office Real Estate Investment Trusts) | 418 | ||||||
157 | Japan Retail Fund Investment Corp. (Retail Real Estate Investment Trusts) | 319 | ||||||
242,903 | Japan Tobacco, Inc. (Tobacco) | 7,890 | ||||||
86,000 | JGC Corp. (Construction & Engineering) | 3,369 | ||||||
38,255 | JS Group Corp. (Building Products) | 1,047 | ||||||
26,817 | JSR Corp. (Specialty Chemicals) | 519 | ||||||
323,224 | JX Holdings, Inc. (Oil & Gas Refining & Marketing) | 1,661 | ||||||
82,800 | Kakaku.com, Inc. (Internet Software & Services) | 1,452 | ||||||
44,398 | Kaneka Corp. (Commodity Chemicals) | 291 | ||||||
76,664 | Kao Corp. (Personal Products) | 2,410 | ||||||
241,000 | Kawasaki Heavy Industries Ltd. (Industrial Machinery) | 1,009 | ||||||
164,648 | KDDI Corp. (Wireless Telecommunication Services) | 10,117 | ||||||
16,320 | Keyence Corp. (Electronic Equipment, Instruments & Components) | 6,974 | ||||||
124,748 | Kirin Holdings Co. Ltd. (Brewers) | 1,793 | ||||||
127,500 | Komatsu Ltd. (Construction & Farm Machinery & Heavy Trucks) | 2,588 | ||||||
80,000 | Kubota Corp. (Construction & Farm Machinery & Heavy Trucks) | 1,321 | ||||||
48,226 | Kuraray Co. Ltd. (Commodity Chemicals) | 574 | ||||||
17,100 | Kurita Water Industries Ltd. (Industrial Machinery) | 354 | ||||||
34,147 | Kyowa Hakko Kirin Co. Ltd. (Pharmaceuticals) | 376 | ||||||
9,133 | Lawson, Inc. (Food Retail) | 683 | ||||||
304,286 | Marubeni Corp. (Trading Companies & Distributors) | 2,185 | ||||||
6,723 | Maruichi Steel Tube Ltd. (Steel) | 170 | ||||||
8,000 | Miraca Holdings, Inc. (Health Care Providers & Services) | 377 | ||||||
183,000 | Mitsubishi Chemical Holdings Corp. (Diversified Chemicals) | 844 | ||||||
219,958 | Mitsubishi Corp. (Trading Companies & Distributors) | 4,213 | ||||||
33,750 | Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals) | 470 | ||||||
650,589 | Mitsubishi UFJ Financial Group, Inc. (Diversified Banks) | 4,288 | ||||||
252,195 | Mitsui & Co. Ltd. (Trading Companies & Distributors) | 3,509 |
See accompanying notes to financial statements.
84
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
110,000 | Mitsui Chemicals, Inc. (Commodity Chemicals) | $ | 265 | |||||
824,497 | Mizuho Financial Group, Inc. (Diversified Banks) | 1,785 | ||||||
31,100 | Murata Manufacturing Co. Ltd. (Electronic Equipment, Instruments & Components) | 2,759 | ||||||
326,167 | NGK Insulators Ltd. (Industrial Machinery) | 6,190 | ||||||
85,600 | Nikon Corp. (Photographic Products) | 1,633 | ||||||
8,200 | Nintendo Co. Ltd. (Home Entertainment Software) | 1,091 | ||||||
90 | Nippon Building Fund, Inc. (Office Real Estate Investment Trusts) | 523 | ||||||
115,003 | Nippon Express Co. Ltd. (Trucking) | 556 | ||||||
31,422 | Nippon Telegraph & Telephone Corp. (Integrated Telecommunication Services) | 1,689 | ||||||
499,221 | Nissan Motor Co. Ltd. (Automobile Manufacturers) | 4,191 | ||||||
31,300 | Nisshin Seifun Group, Inc. (Packaged Foods & Meats) | 323 | ||||||
8,900 | Nissin Foods Holdings Co. Ltd. (Packaged Foods & Meats) | 375 | ||||||
12,747 | NKSJ Holdings, Inc. (Property & Casualty Insurance) | 354 | ||||||
22 | Nomura Real Estate Office Fund, Inc. (Office Real Estate Investment Trusts) | 102 | ||||||
72,000 | NSK Ltd. (Industrial Machinery) | 894 | ||||||
109,100 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 1,787 | ||||||
114,005 | Oji Paper Co. Ltd. (Paper Products) | 584 | ||||||
27,200 | Olympus Corp. (Health Care Equipment & Supplies) (a) | 860 | ||||||
44,293 | Ono Pharmaceutical Co. Ltd. (Pharmaceuticals) | 3,874 | ||||||
34,700 | Oracle Corp. Japan (Systems Software) | 1,267 | ||||||
132,800 | ORIX Corp. (Consumer Finance) | 2,330 | ||||||
71,523 | Osaka Gas Co. Ltd. (Gas Utilities) | 281 | ||||||
52,219 | Otsuka Holdings Co. Ltd. (Pharmaceuticals) | 1,508 | ||||||
14,900 | Park24 Co. Ltd. (Environmental & Facilities Services) | 281 | ||||||
71,181 | Resona Holdings, Inc. (Regional Banks) | 362 | ||||||
5,900 | Rinnai Corp. (Household Appliances) | 459 | ||||||
12,000 | Ryohin Keikaku Co. (General Merchandise Stores) | 1,296 | ||||||
8,167 | Sankyo Co. Ltd. (Leisure Products) | 376 | ||||||
10,503 | Santen Pharmaceutical Co. Ltd. (Pharmaceuticals) | 489 | ||||||
30,200 | SECOM Co. Ltd. (Security & Alarm Services) | 1,818 | ||||||
62,543 | Sekisui Chemical Co. Ltd. (Homebuilding) | 766 | ||||||
77,961 | Sekisui House Ltd. (Homebuilding) | 1,089 | ||||||
109,388 | Seven & I Holdings Co. Ltd. (Food Retail) | 4,342 | ||||||
24,404 | Seven Bank Ltd. (Regional Banks) | 95 | ||||||
87,500 | Shin-Etsu Chemical Co. Ltd. (Specialty Chemicals) | 5,102 | ||||||
43,014 | Shionogi & Co. Ltd. (Pharmaceuticals) | 931 | ||||||
202,000 | Showa Denko K.K. (Diversified Chemicals) | 286 | ||||||
25,400 | Showa Shell Sekiyu K.K. (Oil & Gas Refining & Marketing) | 258 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
4,600 | SMC Corp. (Industrial Machinery) | $ | 1,158 | |||||
84,800 | SoftBank Corp. (Wireless Telecommunication Services) | 7,410 | ||||||
168,900 | Sojitz Corp. (Trading Companies & Distributors) | 300 | ||||||
201,000 | Sumitomo Chemical Co. Ltd. (Diversified Chemicals) | 787 | ||||||
162,003 | Sumitomo Corp. (Trading Companies & Distributors) | 2,033 | ||||||
58,900 | Sumitomo Electric Industries Ltd. (Electrical Components & Equipment) | 981 | ||||||
71,000 | Sumitomo Metal Mining Co. Ltd. (Diversified Metals & Mining) | 929 | ||||||
186,529 | Sumitomo Mitsui Financial Group, Inc. (Diversified Banks) | 9,603 | ||||||
277,000 | Sumitomo Mitsui Trust Holdings, Inc. (Diversified Banks) | 1,457 | ||||||
25,669 | Sumitomo Rubber Industries Ltd. (Tires & Rubber) | 365 | ||||||
6,400 | Suzuki Motor Corp. (Automobile Manufacturers) | 172 | ||||||
18,600 | Sysmex Corp. (Health Care Equipment & Supplies) | 1,097 | ||||||
114,911 | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | 5,265 | ||||||
126,000 | Teijin Ltd. (Commodity Chemicals) | 280 | ||||||
48,250 | The Bank of Yokohama Ltd. (Regional Banks) | 269 | ||||||
24,000 | The Nishi-Nippon City Bank Ltd. (Regional Banks) | 65 | ||||||
30,000 | The Yokohama Rubber Co. Ltd. (Tires & Rubber) | 294 | ||||||
42,436 | Tokio Marine Holdings, Inc. (Property & Casualty Insurance) | 1,417 | ||||||
5,800 | Tokyo Electron Ltd. (Semiconductor Equipment) | 317 | ||||||
87,012 | Tokyo Gas Co. Ltd. (Gas Utilities) | 428 | ||||||
42,020 | TonenGeneral Sekiyu K.K. (Oil & Gas Refining & Marketing) | 385 | ||||||
79,911 | Toppan Printing Co. Ltd. (Commercial Printing) | 638 | ||||||
550,000 | Toshiba Corp. (Computer Hardware) | 2,309 | ||||||
9,419 | Toyoda Gosei Co. Ltd. (Auto Parts & Equipment) | 219 | ||||||
224,500 | Toyota Motor Corp. (Automobile Manufacturers) | 13,689 | ||||||
47,000 | Trend Micro, Inc. (Systems Software) | 1,643 | ||||||
9,200 | Tsumura & Co. (Pharmaceuticals) | 244 | ||||||
153,555 | Ube Industries Ltd. (Diversified Chemicals) | 328 | ||||||
16,400 | Unicharm Corp. (Household Products) | 935 | ||||||
157 | United Urban Investment Corp. (Real Estate Investment Trusts (REITs)) | 226 | ||||||
32,890 | USS Co. Ltd. (Automotive Retail) | 451 | ||||||
24,277 | West Japan Railway Co. (Railroads) | 1,051 | ||||||
370,800 | Yahoo Japan Corp. (Internet Software & Services) | 2,061 | ||||||
94,800 | Yamada Denki Co. Ltd. (Computer & Electronics Retail) | 310 | ||||||
241,487 |
See accompanying notes to financial statements.
85
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Jersey — 0.58% | ||||||||
542,101 | Glencore International PLC (Diversified Metals & Mining) | $ | 2,807 | |||||
35,340 | Wolseley PLC (Trading Companies & Distributors) | 2,004 | ||||||
188,021 | WPP PLC (Advertising) | 4,296 | ||||||
9,107 | ||||||||
Luxembourg — 0.35% | ||||||||
5,705 | Millicom International Cellular SA (Wireless Telecommunication Services) | 568 | ||||||
151,094 | SES – FDR, Class – A (Cable & Satellite) | 4,891 | ||||||
5,459 | ||||||||
Mexico — 0.23% | ||||||||
117,666 | Grupo Televisa SA, ADR (Media) | 3,561 | ||||||
Netherlands — 4.84% | ||||||||
30,226 | AEGON NV (Life & Health Insurance) | 286 | ||||||
147,171 | Akzo Nobel NV (Diversified Chemicals) | 11,405 | ||||||
100,255 | ASML Holding NV (Semiconductor Equipment) | 9,383 | ||||||
10,561 | ASML Holding NV – NYS (Semiconductor Equipment) | 990 | ||||||
1,432 | Corio NV (Retail Real Estate Investment Trusts) | 64 | ||||||
3,082 | Delta Lloyd NV (Life & Health Insurance) | 76 | ||||||
8,819 | European Aeronautic Defence & Space Co. (Aerospace & Defense) | 677 | ||||||
19,035 | Fugro NV (Oil & Gas Equipment & Services) | 1,134 | ||||||
45,758 | Gemalto NV (Computer Storage & Peripherals) | 5,036 | ||||||
68,679 | Koninklijke Ahold NV (Food Retail) | 1,233 | ||||||
5,185 | Koninklijke Boskalis Westminster NV (Construction & Engineering) | 274 | ||||||
62,148 | Koninklijke DSM NV (Diversified Chemicals) | 4,887 | ||||||
80,593 | Koninklijke Philips Electronics NV (Industrial Conglomerates) | 2,954 | ||||||
8,121 | Randstad Holding NV (Professional Services) | 527 | ||||||
448,705 | Reed Elsevier NV (Publishing) | 9,505 | ||||||
555,800 | TNT NV (Air Freight & Logistics) (a) | 3,173 | ||||||
436,585 | Unilever NV (Packaged Foods & Meats) | 17,582 | ||||||
20,068 | Wolters Kluwer NV (Publishing) | 573 | ||||||
34,800 | Yandex NV (Internet Software & Services) (a) | 1,502 | ||||||
96,113 | Ziggo NV (Alternative Carriers) (b) | 4,389 | ||||||
75,650 | ||||||||
New Zealand — 0.02% | ||||||||
154,315 | Telecom Corp. of New Zealand Ltd. (Integrated Telecommunication Services) | 292 | ||||||
Nigeria — 0.07% | ||||||||
1,100,090 | Nigerian Breweries PLC (Brewers) | 1,155 | ||||||
Norway — 0.34% | ||||||||
6,689 | Gjensidige Forsikring ASA (Multi-line Insurance) | 128 | ||||||
103,340 | Orkla ASA (Industrial Conglomerates) | 806 | ||||||
150,916 | Statoil ASA (Integrated Oil & Gas) | 3,658 | ||||||
16,461 | Yara International ASA (Fertilizers & Agricultural Chemicals) | 709 | ||||||
5,301 |
Shares | Security Description | Value (000) | ||||||
Papua New Guinea — 0.14% | ||||||||
306,984 | Oil Search Ltd. (Oil & Gas Exploration & Production) | $ | 2,222 | |||||
Portugal — 0.09% | ||||||||
228,449 | EDP – Energias de Portugal SA (Electric Utilities) | 839 | ||||||
142,862 | Portugal Telecom SGPS SA, Registered Shares (Integrated Telecommunication Services) | 621 | ||||||
1,460 | ||||||||
Russia — 0.09% | ||||||||
9,515 | LUKOIL – Sponsored ADR (Integrated Oil & Gas) | 601 | ||||||
59,664 | Sberbank of Russia – Sponsored ADR (Diversified Banks) | 750 | ||||||
1,351 | ||||||||
Singapore — 1.27% | ||||||||
188,000 | Ascendas Real Estate Investment Trust (Industrial Real Estate Investment Trusts) | 328 | ||||||
184,624 | CapitaCommercial Trust (Office Real Estate Investment Trusts) | 212 | ||||||
223,000 | CapitaMall Trust (Retail Real Estate Investment Trusts) | 337 | ||||||
317,494 | ComfortDelGro Corp. Ltd. (Trucking) | 506 | ||||||
235,977 | DBS Group Holdings Ltd. (Diversified Banks) | 3,198 | ||||||
410,000 | Global Logistic Properties Ltd. (Real Estate Operating Companies) | 939 | ||||||
963,429 | Hutchison Port Holdings Trust (Marine Ports & Services) | 650 | ||||||
10,000 | Jardine Cycle & Carriage Ltd. (Distributors) | 285 | ||||||
242,480 | Keppel Corp. Ltd. (Industrial Conglomerates) | 2,151 | ||||||
64,000 | Keppel Land Ltd. (Real Estate Development) | 169 | ||||||
1,143,608 | Olam International Ltd. (Food Distributors) | 1,391 | ||||||
511,000 | SembCorp Industries Ltd. (Industrial Conglomerates) | 2,224 | ||||||
747,000 | SembCorp Marine Ltd. (Construction & Farm Machinery & Heavy Trucks) | 2,635 | ||||||
41,601 | Singapore Exchange Ltd. (Specialized Finance) | 239 | ||||||
268,895 | Singapore Press Holdings Ltd. (Publishing) | 878 | ||||||
1,177,480 | Singapore Telecommunications Ltd. (Integrated Telecommunication Services) | 3,417 | ||||||
369,443 | Yangzijiang Shipbuilding Holdings Ltd. (Construction & Farm Machinery & Heavy Trucks) | 347 | ||||||
19,906 | ||||||||
South Africa — 0.02% | ||||||||
24,469 | Shoprite Holdings Ltd. (Food Retail) | 384 | ||||||
South Korea — 1.19% | ||||||||
6,054 | Hyundai Mobis Co. Ltd. (Auto Parts & Equipment) (a) | 1,684 | ||||||
100,390 | Korea Electric Power Corp. (Electric Utilities) (a) | 3,306 | ||||||
62,282 | KT&G Corp. (Tobacco) (a) | 4,397 |
See accompanying notes to financial statements.
86
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
South Korea (continued) | ||||||||
816 | LG Household & Health Care Ltd. (Household Products) (a) | $ | 424 | |||||
4,448 | Samsung Electronics Co. Ltd. (Semiconductors) | 5,784 | ||||||
13,842 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 3,017 | ||||||
18,612 | ||||||||
Spain — 1.92% | ||||||||
54,249 | Abertis Infraestructuras SA (Transportation Infrastructure) | 1,205 | ||||||
21,064 | ACS Actividades de Construccion y Servicios SA (Construction & Engineering) | 725 | ||||||
424,821 | Banco Bilbao Vizcaya SA (Commercial Banks) | 5,229 | ||||||
783,168 | Banco Santander SA (Diversified Banks) | 7,009 | ||||||
393,283 | CaixaBank SA (Diversified Banks) (b) | 2,049 | ||||||
27,122 | Corporacion Mapfre (Insurance) | 116 | ||||||
6,729 | Enagas (Gas Utilities) | 176 | ||||||
113,475 | Ferrovial SA (Transportation Infrastructure) | 2,196 | ||||||
12,339 | Gas Natural SDG SA (Gas Utilities) | 317 | ||||||
7,257 | Grifols SA, ADR (Pharmaceuticals) | 262 | ||||||
38,462 | Grifols SA (Biotechnology) | 1,839 | ||||||
2,974 | Grifols SA, Class – B (Biotechnology) | 106 | ||||||
167,377 | Iberdrola SA (Electric Utilities) | 1,067 | ||||||
5,515 | Industria de Diseno Textil SA (Apparel Retail) | 909 | ||||||
3,815 | Red Electrica Corporacion SA (Electric Utilities) | 255 | ||||||
120,556 | Repsol YPF SA (Integrated Oil & Gas) | 3,038 | ||||||
66,279 | �� | Tecnicas Reunidas SA (Oil & Gas Equipment & Services) | 3,600 | |||||
30,098 | ||||||||
Sweden — 2.31% | ||||||||
88,324 | Assa Abloy AB, Class – B (Building Products) | 4,668 | ||||||
47,229 | Boliden AB (Diversified Metals & Mining) | 723 | ||||||
133,536 | Electrolux AB, Series B (Household Appliances) | 3,499 | ||||||
153,383 | Hennes & Mauritz AB, B Shares (Apparel Retail) | 7,066 | ||||||
69,747 | Husqvarna (Household Durables) | 420 | ||||||
5,319 | Industrivarden AB, C Shares (Multi-Sector Holdings) | 101 | ||||||
122,385 | Nordea Bank AB (Diversified Banks) | 1,649 | ||||||
184,118 | Sandvik AB (Industrial Machinery) | 2,597 | ||||||
55,255 | Scania AB, B Shares (Machinery) | 1,082 | ||||||
54,070 | Securitas AB, B Shares (Security & Alarm Services) | 575 | ||||||
416,460 | Skandinaviska Enskilda Banken AB, Class – A (Diversified Banks) | 5,493 | ||||||
61,380 | Skanska AB, B Shares (Construction & Engineering) | 1,254 | ||||||
77,406 | Svenska Handelsbanken AB, A Shares (Diversified Banks) | 3,804 | ||||||
39,097 | Swedbank AB, A Shares (Diversified Banks) | 1,101 | ||||||
27,496 | Tele2 AB, B Shares (Wireless Telecommunication Services) | 312 |
Shares | Security Description | Value (000) | ||||||
Sweden (continued) | ||||||||
205,623 | TeliaSonera AB (Integrated Telecommunication Services) | $ | 1,712 | |||||
36,056 | ||||||||
Switzerland — 9.54% | ||||||||
526,677 | ABB Ltd. – Registered (Heavy Electrical Equipment) | 13,867 | ||||||
15,729 | Actelion Ltd. – Registered (Biotechnology) | 1,329 | ||||||
2,388 | Baloise Holding AG – Registered (Multi-line Insurance) | 304 | ||||||
37,326 | Compagnie Financiere Richemont SA – Registered (Apparel, Accessories & Luxury Goods) | 3,717 | ||||||
12,718 | DKSH Holding Ltd. (Advertising) | 988 | ||||||
4,129 | Givaudan SA – Registered (Specialty Chemicals) | 5,899 | ||||||
42,466 | Holcim Ltd. – Registered (Construction Materials) | 3,179 | ||||||
9,100 | Kuehne & Nagel International (Marine) | 1,195 | ||||||
331,827 | Nestle SA (Packaged Foods & Meats) | 24,297 | ||||||
290,902 | Novartis AG – Registered (Pharmaceuticals) | 23,225 | ||||||
5,414 | Partners Group Holding AG (Asset Management & Custody Banks) | 1,444 | ||||||
120,312 | Roche Holding AG – Genusscheine (Pharmaceuticals) | 33,620 | ||||||
722 | SGS SA – Registered (Research and Consulting Services) | 1,661 | ||||||
4,620 | Swiss Prime Site AG – Registered (Real Estate Operating Companies) | 358 | ||||||
44,744 | Swiss Re AG (Reinsurance) | 4,117 | ||||||
5,944 | Swisscom AG – Registered (Integrated Telecommunication Services) | 3,139 | ||||||
8,984 | Syngenta AG – Registered (Fertilizers & Agricultural Chemicals) | 3,578 | ||||||
6,224 | The Swatch Group AG (Apparel, Accessories & Luxury Goods) | 4,114 | ||||||
7,064 | The Swatch Group AG – Registered (Apparel, Accessories & Luxury Goods) | 795 | ||||||
664,066 | UBS AG – Registered (Diversified Capital Markets) | 12,599 | ||||||
19,993 | Zurich Financial Services AG (Multi-line Insurance) | 5,795 | ||||||
149,220 | ||||||||
Taiwan — 0.03% | ||||||||
15,923 | Catcher Technology Co. Ltd. – Registered, GDR (Computer Storage & Peripherals) | 517 | ||||||
United Kingdom — 19.67% | ||||||||
6,880 | Admiral Group PLC (Property & Casualty Insurance) | 149 | ||||||
209,281 | Anglo American PLC (Diversified Metals & Mining) | 4,574 | ||||||
59,232 | Antofagasta PLC (Diversified Metals & Mining) | 808 | ||||||
6,224 | ASOS PLC (Internet Retail) (a) | 631 | ||||||
162,300 | AstraZeneca PLC (Pharmaceuticals) | 9,606 | ||||||
671,302 | Aviva PLC (Multi-line Insurance) | 4,998 | ||||||
487,835 | BAE Systems PLC (Aerospace & Defense) | 3,514 | ||||||
531,708 | Balfour Beatty PLC (Construction & Engineering) | 2,526 | ||||||
2,396,865 | Barclays PLC (Diversified Banks) | 10,792 |
See accompanying notes to financial statements.
87
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United Kingdom (continued) | ||||||||
247,735 | BG Group PLC (Integrated Oil & Gas) | $ | 5,322 | |||||
313,624 | BHP Billiton PLC (Diversified Metals & Mining) | 9,705 | ||||||
1,184,304 | BP PLC (Integrated Oil & Gas) | 9,570 | ||||||
289,916 | British American Tobacco PLC (Tobacco) | 15,543 | ||||||
64,792 | British Land Co. PLC (Diversified Real Estate Investment Trusts) | 675 | ||||||
46,015 | Capital Shopping Centres Group PLC (Retail Real Estate Investment Trusts) | 236 | ||||||
100,428 | Carnival PLC (Hotels, Resorts & Cruise Lines) | 4,159 | ||||||
195,170 | Centrica PLC (Multi-Utilities) | 1,124 | ||||||
14,381 | Diageo PLC (Distillers & Vintners) | 476 | ||||||
32,300 | Ensco PLC, ADR (Oil & Gas Drilling) | 1,847 | ||||||
15,098 | GKN PLC (Auto Parts & Equipment) | 93 | ||||||
340,398 | GlaxoSmithKline PLC (Pharmaceuticals) | 9,082 | ||||||
159,500 | Grainger PLC (Real Estate Operating Companies) | 538 | ||||||
26,600 | Greene King PLC (Restaurants) | 388 | ||||||
444,124 | Home Retail Group PLC (Catalog Retail) | 1,411 | ||||||
1,132,489 | HSBC Holdings PLC (Diversified Banks) | 12,420 | ||||||
608,920 | HSBC Holdings PLC (HK) (Diversified Banks) | 6,608 | ||||||
28,749 | ICAP PLC (Investment Banking & Brokerage) | 215 | ||||||
370,453 | Imperial Tobacco Group PLC (Tobacco) | 14,340 | ||||||
95,400 | Inchcape PLC (Distributors) | 971 | ||||||
33,677 | Inmarsat PLC (Alternative Carriers) | 422 | ||||||
69,438 | InterContinental Hotels Group PLC (Hotels, Resorts & Cruise Lines) | 2,314 | ||||||
710,758 | International Consolidated Airlines Group SA (Airlines) (a)(b) | 4,724 | ||||||
20,650 | Investec PLC (Diversified Capital Markets) | 150 | ||||||
184,414 | J Sainsbury PLC (Food Retail) | 1,114 | ||||||
45,909 | John Wood Group PLC (Oil & Gas Equipment & Services) | 521 | ||||||
71,465 | Johnson Matthey PLC (Specialty Chemicals) | 3,881 | ||||||
248,232 | Land Securities Group PLC (Diversified Real Estate Investment Trusts) | 3,960 | ||||||
219,511 | Legal & General Group PLC (Life & Health Insurance) | 809 | ||||||
5,277 | Liberty Global PLC, Series C (Cable & Satellite) (a) | 445 | ||||||
61,141 | Liberty Global PLC, Class – A (Cable & Satellite) (a) | 5,441 | ||||||
8,094,768 | Lloyds Banking Group PLC (Diversified Banks) (a)(b) | 10,572 | ||||||
179,400 | Marks & Spencer Group PLC (Department Stores) | 1,285 | ||||||
713,690 | Meggitt PLC (Aerospace & Defense) | 6,233 | ||||||
79,900 | Merlin Entertainments PLC (Hotels, Restaurants & Leisure) (a)(b) | 473 | ||||||
397,720 | Michael Page International PLC (Human Resource & Employment Services) | 3,214 | ||||||
260,828 | National Grid PLC (Multi-Utilities) | 3,403 | ||||||
356,700 | Ocado Group PLC (Internet Retail) (a) | 2,608 | ||||||
297,960 | Ophir Energy PLC (Oil & Gas Exploration & Production) (a) | 1,617 | ||||||
45,501 | Persimmon PLC (Homebuilding) | 933 |
Shares | Security Description | Value (000) | ||||||
United Kingdom (continued) | ||||||||
402,994 | Prudential PLC (Life & Health Insurance) | $ | 8,942 | |||||
50,631 | Resolution Ltd. (Life & Health Insurance) | 297 | ||||||
415,950 | Rexam PLC (Metal & Glass Containers) | 3,654 | ||||||
269,186 | Rio Tinto PLC (Diversified Metals & Mining) | 15,196 | ||||||
588,553 | Rolls-Royce Holdings PLC (Aerospace & Defense) | 12,424 | ||||||
288,167 | Royal Dutch Shell PLC, A Shares (Integrated Oil & Gas) | 10,319 | ||||||
54,682 | Royal Dutch Shell PLC, A Shares (Integrated Oil & Gas) | 1,949 | ||||||
214,407 | Royal Dutch Shell PLC, B Shares (Integrated Oil & Gas) | 8,094 | ||||||
217,266 | Royal Mail PLC (Air Freight & Logistics) (a)(b) | 2,050 | ||||||
129,242 | RSA Insurance Group PLC (Multi-line Insurance) | 196 | ||||||
138,456 | SABMiller PLC (Brewers) | 7,109 | ||||||
51,016 | SEGRO PLC (Industrial Real Estate Investment Trusts) | 282 | ||||||
8,563 | Severn Trent PLC (Water Utilities) | 242 | ||||||
35,992 | SSE PLC (Electric Utilities) | 816 | ||||||
111,831 | Standard Chartered PLC (Diversified Banks) | 2,518 | ||||||
87,914 | Standard Life PLC (Life & Health Insurance) | 523 | ||||||
2,319,286 | Tesco PLC (Food Retail) | 12,840 | ||||||
169,637 | The Sage Group PLC (Application Software) | 1,134 | ||||||
620,583 | Thomas Cook Group PLC (Hotels, Restaurants & Leisure) (a) | 1,718 | ||||||
127,253 | Tullow Oil PLC (Oil & Gas Exploration & Production) | 1,802 | ||||||
9,000 | Unilever PLC (Packaged Foods & Meats) | 370 | ||||||
25,846 | United Utilities Group PLC (Multi-Utilities) | 287 | ||||||
5,929,245 | Vodafone Group PLC (Wireless Telecommunication Services) | 23,267 | ||||||
55,242 | Whitbread PLC (Restaurants) | 3,431 | ||||||
331,572 | William Morrison Supermarkets PLC (Food Retail) | 1,433 | ||||||
307,333 | ||||||||
United States — 0.04% | ||||||||
13,489 | Nielsen Holdings NV (Research and Consulting Services) | 619 | ||||||
Total Common Stocks | 1,420,837 | |||||||
Preferred Stocks — 0.29% | ||||||||
Germany — 0.29% | ||||||||
2,629 | Bayerische Motoren Werke AG – Preferred (Automobile Manufacturers) | 225 | ||||||
36,698 | Henkel AG & Co. KGaA – Preferred (Household Products) | 4,256 | ||||||
4,481 | ||||||||
Total Preferred Stocks | 4,481 | |||||||
Warrant — 0.00% | ||||||||
Singapore — 0.00% | ||||||||
185,000 | Olam International Ltd. (Food Distributors) (a) | 46 | ||||||
Total Warrant | 46 |
See accompanying notes to financial statements.
88
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Right — 0.01% | ||||||||
Spain — 0.01% | ||||||||
120,556 | Repsol SA (Integrated Oil & Gas) (a) | $ | 82 | |||||
Total Right | 82 | |||||||
Time Deposit — 1.04% | ||||||||
$16,318 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/14 | 16,318 | ||||||
Total Time Deposit | 16,318 | |||||||
Mutual Funds — 7.38% | ||||||||
2,760,453 | iShares MSCI Emerging Markets Index Fund ETF, 1.25% (c) | 115,304 | ||||||
23,000 | SSgA Treasury Money Market Fund, 0.00% (c) | 23 | ||||||
Total Mutual Funds | 115,327 | |||||||
Total Investments (cost $1,188,951) — 99.59% | 1,557,091 | |||||||
Other assets in excess of liabilities — 0.41% | 6,455 | |||||||
Net Assets — 100.00% | $ | 1,563,546 |
(a) | Represents non-income producing security. |
(b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(c) | The rate disclosed is the rate in effect on December 31, 2013. |
ADR — American Depositary Receipt
ETF — Exchange Traded Fund
FDR — Fiduciary Depositary Receipt
GDR — Global Depositary Receipt
NYS — New York Registered Shares
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
89
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
The following table reflects the percentage of the total net assets of the Portfolio attributable to each Specialist Manager, see Note 3 in the Notes to Financial Statements.
The International Equity Portfolio | Artisan Partners LP | Cadence Capital Management – Quality Yield | Capital Guardian Trust Co. | Causeway Capital Management LLC | Mellon Capital Management Corp. – MSCI EM | Mellon Capital Management Corp. – MSCI Japan | Total | |||||||||||||||||||||
Common Stocks | 17.45 | % | 36.40 | % | 19.26 | % | 17.76 | % | — | — | 90.87 | % | ||||||||||||||||
Preferred Stocks | 0.28 | % | 0.01 | % | — | — | — | — | 0.29 | % | ||||||||||||||||||
Warrant | — | — | 0.00 | % | — | — | — | 0.00 | % | |||||||||||||||||||
Right | — | 0.01 | % | — | — | — | — | 0.01 | % | |||||||||||||||||||
Time Deposit | 0.17 | % | — | 0.72 | % | 0.15 | % | — | — | 1.04 | % | |||||||||||||||||
Mutual Funds | — | — | — | — | 7.38 | % | 0.00 | % | 7.38 | % | ||||||||||||||||||
Other Assets (Liabilities) | 0.13 | % | 0.17 | % | 0.02 | % | 0.07 | % | — | 0.02 | % | 0.41 | % | |||||||||||||||
Total Net Assets | 18.03 | % | 36.59 | % | 20.00 | % | 17.98% | 7.38% | 0.02 | % | 100.00 | % |
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2013.
Currency Contracts
Contract Amount (Local Currency) | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/13 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Purchased | ||||||||||||||||||||||||
405,572 | Swedish Krona | Bank of America | 1/7/14 | $ | 63 | $ | 63 | $ | — | |||||||||||||||
Total Currencies Purchased | $ | 63 | $ | 63 | $ | — | ||||||||||||||||||
Currencies Sold | ||||||||||||||||||||||||
16,338 | British Pound Sterling | JPMorgan Chase | 1/6/14 | $ | 27 | $ | 27 | $ | — | |||||||||||||||
1,387,000 | Euro | Bank of New York | 1/10/14 | 1,884 | 1,908 | (24 | ) | |||||||||||||||||
554,321,000 | Japanese Yen | Credit Suisse | 1/21/14 | 5,382 | 5,266 | 116 | ||||||||||||||||||
6,831,805 | Japanese Yen | Mellon Bank | 1/7/14 | 65 | 65 | — | ||||||||||||||||||
9,957,247 | Japanese Yen | Bank of New York | 1/6/14 | 95 | 95 | — | ||||||||||||||||||
148,749,000 | Japanese Yen | Bank of New York | 1/21/14 | 1,420 | 1,413 | 7 | ||||||||||||||||||
14,273,836 | Japanese Yen | Mellon Bank | 1/6/14 | 136 | 135 | 1 | ||||||||||||||||||
74,594,809 | Japanese Yen | Merrill Lynch | 1/7/14 | 711 | 708 | 3 | ||||||||||||||||||
32,002,246 | Japanese Yen | Bank of America | 1/7/14 | 305 | 304 | 1 | ||||||||||||||||||
16,002,209 | Japanese Yen | Bank of New York | 1/8/14 | 152 | 152 | — | ||||||||||||||||||
26,020,538 | Japanese Yen | Citibank | 1/7/14 | 247 | 247 | — | ||||||||||||||||||
123,969,155 | Japanese Yen | Morgan Stanley | 1/8/14 | 1,178 | 1,177 | 1 | ||||||||||||||||||
Total Currencies Sold | $ | 11,602 | $ | 11,497 | $ | 105 | ||||||||||||||||||
Net Unrealized/Appreciation (Depreciation) | $ | 105 |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
90
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 91.36% | ||||||||
Australia — 3.50% | ||||||||
59,053 | AGL Energy Ltd. (Multi-Utilities) | $ | 792 | |||||
65,882 | Amcor Ltd. (Paper Packaging) | 620 | ||||||
307,493 | AMP Ltd. (Life & Health Insurance) | 1,205 | ||||||
86,067 | APA Group (Gas Utilities) | 461 | ||||||
19,932 | ASX Ltd. (Specialized Finance) | 654 | ||||||
298,680 | Australia & New Zealand Banking Group Ltd. (Diversified Banks) | 8,594 | ||||||
31,136 | Bank of Queensland Ltd. (Commercial Banks) | 338 | ||||||
49,916 | Bendigo & Adelaide Bank Ltd. (Regional Banks) | 524 | ||||||
134,175 | BHP Billiton Ltd. (Diversified Metals & Mining) | 4,550 | ||||||
100,764 | Bradken Ltd. (Construction & Farm Machinery & Heavy Trucks) | 542 | ||||||
411,957 | CFS Retail Property Trust (Retail Real Estate Investment Trusts) | 715 | ||||||
147,922 | Challenger Ltd. (Insurance) | 819 | ||||||
331,718 | Coca-Cola Amatil Ltd. (Soft Drinks) | 3,562 | ||||||
179,472 | Commonwealth Bank of Australia (Diversified Banks) | 12,465 | ||||||
53,387 | CSL Ltd. (Biotechnology) | 3,287 | ||||||
996,699 | Dexus Property Group (Diversified Real Estate Investment Trusts) | 894 | ||||||
294,051 | Federation Centres (Retail Real Estate Investment Trusts) | 614 | ||||||
251,069 | Fortescue Metals Group Ltd. (Steel) | 1,304 | ||||||
364,309 | GPT Group (Diversified Real Estate Investment Trusts) | 1,106 | ||||||
117,167 | Iluka Resources Ltd. (Diversified Metals & Mining) | 903 | ||||||
700,775 | Incitec Pivot Ltd. (Fertilizers & Agricultural Chemicals) | 1,677 | ||||||
214,108 | Insurance Australia Group Ltd. (Insurance) | 1,112 | ||||||
86,059 | Iress Ltd. (Systems Software) | 725 | ||||||
369,636 | Metcash Ltd. (Food Distributors) | 1,043 | ||||||
754,415 | Mirvac Group (Diversified Real Estate Investment Trusts) | 1,131 | ||||||
256,042 | National Australia Bank Ltd. (Diversified Banks) | 7,961 | ||||||
13,397 | Newcrest Mining Ltd. (Gold) | 93 | ||||||
65,882 | Orora Ltd. (Containers & Packaging) (a) | 68 | ||||||
21,485 | Perpetual Ltd. (Insurance) | 926 | ||||||
105,520 | Platinum Asset Management Ltd. (Asset Management & Custody Banks) | 649 | ||||||
216,778 | SP AusNet (Electric Utilities) | 241 | ||||||
474,915 | Stockland Trust Group (Diversified Real Estate Investment Trusts) | 1,531 | ||||||
91,568 | Sydney Airport (Airport Services) | 311 | ||||||
321,699 | Tabcorp Holdings Ltd. (Casinos & Gaming) | 1,042 | ||||||
597,306 | Tatts Group Ltd. (Casinos & Gaming) | 1,653 | ||||||
1,904,469 | Telstra Corp. Ltd. (Integrated Telecommunication Services) | 8,926 |
Shares | Security Description | Value (000) | ||||||
Australia (continued) | ||||||||
285,948 | Toll Holdings Ltd. (Air Freight & Logistics) | $ | 1,450 | |||||
602,331 | Transurban Group (Highways & Railtracks) | 3,678 | ||||||
429,336 | Westfield Group (Retail Real Estate Investment Trusts) | 3,868 | ||||||
629,076 | Westfield Retail Trust (Retail Real Estate Investment Trusts) | 1,668 | ||||||
418,820 | Westpac Banking Corp. (Diversified Banks) | 12,106 | ||||||
90,385 | Woolworths Ltd. (Food Retail) | 2,731 | ||||||
88,888 | WorleyParsons Ltd. (Oil & Gas Equipment & Services) | 1,317 | ||||||
99,856 | ||||||||
Austria — 0.19% | ||||||||
177,796 | Immofinanz AG (Real Estate Operating Companies) | 824 | ||||||
67,297 | OMV AG (Integrated Oil & Gas) | 3,221 | ||||||
4,832 | Raiffeisen Bank International AG (Commercial Banks) | 170 | ||||||
9,802 | Vienna Insurance Group Wiener Staedtische Versicherung AG (Multi-line Insurance) | 488 | ||||||
13,651 | Voestalpine AG (Steel) | 656 | ||||||
5,359 | ||||||||
Belgium — 1.38% | ||||||||
48,098 | Ageas (Multi-line Insurance) | 2,048 | ||||||
105,269 | Anheuser-Busch InBev NV (Brewers) | 11,187 | ||||||
68,576 | Belgacom SA (Integrated Telecommunication Services) | 2,029 | ||||||
78,805 | Delhaize Group (Food Retail) | 4,683 | ||||||
9,611 | Groupe Bruxelles Lambert SA (Multi-Sector Holdings) | 882 | ||||||
79,021 | KBC Groep NV (Commercial Banks) (b) | 4,484 | ||||||
20,276 | Solvay SA (Diversified Chemicals) | 3,208 | ||||||
73,599 | Telenet Group Holding NV (Alternative Carriers) | 4,391 | ||||||
56,451 | UCB SA (Pharmaceuticals) | 4,204 | ||||||
50,691 | Umicore SA (Specialty Chemicals) | 2,368 | ||||||
39,484 | ||||||||
Bermuda — 0.20% | ||||||||
52,250 | Kerry Logistics Network Ltd. (Air Freight & Logistics) (a) | 74 | ||||||
137,029 | Seadrill Ltd. (Oil & Gas Drilling) | 5,596 | ||||||
5,670 | ||||||||
Brazil — 0.07% | ||||||||
56,280 | Banco Bradesco SA – Sponsored ADR (Diversified Banks) | 705 | ||||||
171,800 | Hypermarcas SA (Personal Products) | 1,286 | ||||||
1,991 | ||||||||
Canada — 0.81% | ||||||||
18,700 | Bank of Nova Scotia (Commercial Banks) | 1,170 | ||||||
35,300 | CAE, Inc. (Aerospace & Defense) | 449 | ||||||
19,500 | Cameco Corp. (Coal & Consumable Fuels) | 405 |
See accompanying notes to financial statements.
91
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Canada (continued) | ||||||||
22,531 | Canadian Pacific Railway Ltd. (Railroads) | $ | 3,409 | |||||
75,800 | Cenovus Energy, Inc. (Integrated Oil & Gas) | 2,170 | ||||||
69,500 | Centerra Gold, Inc. (Metals & Mining) | 283 | ||||||
179,600 | Centerra Gold, Inc. (Gold) | 731 | ||||||
42,000 | Enbridge, Inc. (Oil & Gas Storage & Transportation) | 1,835 | ||||||
165,239 | First Quantum Minerals Ltd. (Diversified Metals & Mining) | 2,978 | ||||||
206,700 | Imperial Oil Ltd. (Integrated Oil & Gas) | 9,154 | ||||||
22,200 | Progressive Waste Solutions Ltd. (Environmental & Facilities Services) | 549 | ||||||
23,133 | ||||||||
Cayman Islands — 0.07% | ||||||||
307,000 | China Mengniu Dairy Co. Ltd. (Food Products) | 1,457 | ||||||
237,000 | Stella International Holdings Ltd. (Footwear) | 604 | ||||||
2,061 | ||||||||
China — 1.24% | ||||||||
90,439 | Baidu, Inc. – Sponsored ADR (Internet Software & Services) (a) | 16,088 | ||||||
2,245,335 | Bank of China Ltd., H Shares (Diversified Banks) | 1,034 | ||||||
379,000 | China Pacific Insurance Group Co. Ltd. (Multi-line Insurance) | 1,486 | ||||||
1,439,809 | China Resources Land Ltd. (Real Estate Development) | 3,569 | ||||||
3,335,952 | Industrial & Commercial Bank of China Ltd., H Shares (Diversified Banks) | 2,254 | ||||||
26,800 | Jardine Matheson Holdings Ltd. (Industrial Conglomerates) | 1,402 | ||||||
630,000 | PICC Property & Casualty Co. Ltd., H Shares (Property & Casualty Insurance) | 934 | ||||||
56,500 | Ping An Insurance Group Co. of China (Insurance) | 506 | ||||||
78,173 | Tencent Holdings Ltd. (Internet Software & Services) | 4,986 | ||||||
938,500 | Yue Yuen Industrial (Holdings) Ltd. (Footwear) | 3,135 | ||||||
35,394 | ||||||||
Curaçao — 0.12% | ||||||||
38,794 | Schlumberger Ltd. (Oil & Gas Equipment & Services) | 3,496 | ||||||
Denmark — 1.04% | ||||||||
151 | A.P. Moller – Maersk A/S, Class – A (Marine) | 1,557 | ||||||
377 | A.P. Moller – Maersk A/S, Class – B (Marine) | 4,092 | ||||||
43,024 | Coloplast A/S, Class – B (Health Care Equipment & Supplies) | 2,849 | ||||||
101,452 | Novo Nordisk A/S (Pharmaceuticals) | 18,597 | ||||||
10,948 | Rockwool International A/S, B Shares (Building Products) | 1,938 |
Shares | Security Description | Value (000) | ||||||
Denmark (continued) | ||||||||
47,688 | TDC A/S (Integrated Telecommunication Services) | $ | 463 | |||||
1,778 | Tryg A/S (Insurance) | 172 | ||||||
29,668 | ||||||||
Finland — 0.54% | ||||||||
18,157 | Elisa Oyj (Integrated Telecommunication Services) | 481 | ||||||
29,693 | Fortum Oyj (Electric Utilities) | 679 | ||||||
33,309 | Metso OYJ (Machinery) | 1,421 | ||||||
27,275 | Neste Oil Oyj (Oil & Gas Refining & Marketing) | 539 | ||||||
18,609 | Nokian Renkaat Oyj (Auto Components) | 893 | ||||||
26,153 | Orion Oyj, Class – B (Integrated Oil & Gas) | 735 | ||||||
137,134 | Sampo Oyj, A Shares (Multi-line Insurance) | 6,738 | ||||||
145,508 | Stora Enso Oyj, R Shares (Paper Products) | 1,460 | ||||||
140,698 | UPM-Kymmene Oyj (Paper Products) | 2,377 | ||||||
15,323 | ||||||||
France — 9.05% | ||||||||
471,232 | AXA SA (Multi-line Insurance) | 13,101 | ||||||
265,613 | BNP Paribas (Diversified Banks) | 20,698 | ||||||
81,182 | Bouygues SA (Construction & Engineering) | 3,062 | ||||||
54,478 | Casino Guichard-Perrachon SA (Food Retail) | 6,278 | ||||||
16,058 | CNP Assurances (Insurance) | 329 | ||||||
205,865 | Compagnie de Saint-Gobain (Building Products) | 11,320 | ||||||
329,505 | Credit Agricole SA (Diversified Banks) (a) | 4,218 | ||||||
21,378 | Danone SA (Packaged Foods & Meats) | 1,539 | ||||||
172,365 | Electricite de France SA (Electric Utilities) | 6,090 | ||||||
59,710 | Eutelsat Communications (Media) | 1,862 | ||||||
4,235 | Fonciere des Regions (Diversified Real Estate Investment Trusts) | 366 | ||||||
302,711 | GDF Suez (Multi-Utilities) | 7,118 | ||||||
3,229 | Gecina SA (Diversified Real Estate Investment Trusts) | 426 | ||||||
4,854 | Icade (Real Estate Investment Trusts (REITs)) | 452 | ||||||
41,248 | JC Decaux SA (Advertising) | 1,701 | ||||||
14,658 | Klepierre (Retail Real Estate Investment Trusts) | 679 | ||||||
45,375 | Lagardere SCA (Publishing) | 1,687 | ||||||
157,068 | Legrand SA (Electrical Components & Equipment) | 8,655 | ||||||
14,582 | L'Oreal SA (Personal Products) | 2,562 | ||||||
19,606 | LVMH Moet Hennessy Louis Vuitton SA (Apparel, Accessories & Luxury Goods) | 3,576 | ||||||
23,994 | Numericable Group SA (Media) (a)(b) | 871 | ||||||
272,506 | Orange (Diversified Telecommunication Services) | 3,374 | ||||||
98,011 | Pernod Ricard SA (Distillers & Vintners) | 11,165 | ||||||
169,895 | Psa Peugeot Citroen (Automobiles) (a) | 2,206 |
See accompanying notes to financial statements.
92
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
France (continued) | ||||||||
30,470 | Renault SA (Automobile Manufacturers) | $ | 2,450 | |||||
63,025 | Rexel SA (Trading Companies & Distributors) | 1,654 | ||||||
302,992 | Sanofi-Aventis (Pharmaceuticals) | 32,142 | ||||||
151,420 | Schneider Electric SA (Electrical Components & Equipment) | 13,206 | ||||||
16,111 | SCOR SE (Reinsurance) | 589 | ||||||
152,339 | Societe Generale (Diversified Banks) | 8,847 | ||||||
28,003 | Suez Environnement Co. (Multi-Utilities) | 502 | ||||||
73,547 | Technip SA (Oil & Gas Equipment & Services) | 7,068 | ||||||
635,692 | Total SA (Integrated Oil & Gas) | 38,938 | ||||||
35,862 | Unibail-Rodamco SE (Retail Real Estate Investment Trusts) | 9,188 | ||||||
35,689 | Veolia Environnement (Multi-Utilities) | 582 | ||||||
193,499 | Vinci SA (Construction & Engineering) | 12,702 | ||||||
248,548 | Vivendi (Movies & Entertainment) | 6,549 | ||||||
61,278 | Zodiac Aerospace (Aerospace & Defense) | 10,853 | ||||||
258,605 | ||||||||
Germany — 9.70% | ||||||||
74,737 | Allianz SE (Multi-line Insurance) | 13,401 | ||||||
19,491 | Axel Springer AG (Publishing) | 1,252 | ||||||
216,787 | BASF SE (Diversified Chemicals) | 23,108 | ||||||
239,183 | Bayer AG (Pharmaceuticals) | 33,544 | ||||||
119,933 | Bayerische Motoren Werke AG (Automobile Manufacturers) | 14,059 | ||||||
68,940 | Beiersdorf AG (Personal Products) | 6,984 | ||||||
9,360 | Bilfinger Berger SE (Construction & Engineering) | 1,050 | ||||||
10,824 | Brenntag AG (Trading Companies & Distributors) | 2,006 | ||||||
13,536 | Continental AG (Auto Parts & Equipment) | 2,968 | ||||||
450,242 | Daimler AG (Automobile Manufacturers) | 38,958 | ||||||
53,452 | Deutsche Bank AG (Diversified Capital Markets) | 2,550 | ||||||
14,497 | Deutsche Boerse AG (Specialized Finance) | 1,201 | ||||||
347,455 | Deutsche Post AG (Air Freight & Logistics) (b) | 12,666 | ||||||
492,871 | Deutsche Telekom AG – Registered (Integrated Telecommunication Services) | 8,427 | ||||||
167,019 | Deutsche Wohnen AG (Real Estate Operating Companies) | 3,225 | ||||||
135,305 | E.ON AG (Electric Utilities) | 2,497 | ||||||
16,357 | ElringKlinger AG (Auto Parts & Equipment) | 665 | ||||||
46,537 | Freenet AG (Wireless Telecommunication Services) | 1,394 | ||||||
17,985 | Hannover Rueckversicherung AG – Registered (Reinsurance) | 1,543 | ||||||
65,846 | HeidelbergCement AG (Construction Materials) | 4,995 |
Shares | Security Description | Value (000) | ||||||
Germany (continued) | ||||||||
9,525 | Hugo Boss AG (Apparel, Accessories & Luxury Goods) | $ | 1,356 | |||||
56,861 | Infineon Technologies AG (Semiconductors & Semiconductor Equipment) | 607 | ||||||
51,767 | K+S AG – Registered (Fertilizers & Agricultural Chemicals) | 1,593 | ||||||
105,480 | Linde AG (Industrial Gases) | 22,062 | ||||||
72,864 | MTU Aero Engines Holding AG (Aerospace & Defense) | 7,155 | ||||||
48,235 | Muenchener Rueckversicherungs-Gesellschaft AG (Reinsurance) | 10,626 | ||||||
32,880 | ProSiebenSat.1 Media AG – Registered (Broadcasting) | 1,628 | ||||||
86,710 | RWE AG (Multi-Utilities) | 3,173 | ||||||
71,444 | SAP AG (Application Software) | 6,124 | ||||||
297,152 | Siemens AG (Industrial Conglomerates) | 40,586 | ||||||
11,845 | Stada Arzneimittel AG (Pharmaceuticals) | 585 | ||||||
24,548 | Suedzucker AG (Food Products) | 663 | ||||||
41,963 | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | 346 | ||||||
7,892 | Volkswagen AG (Automobiles) | 2,138 | ||||||
17,712 | Wacker Chemie AG (Specialty Chemicals) | 1,958 | ||||||
277,093 | ||||||||
Hong Kong — 3.26% | ||||||||
4,614,718 | AIA Group Ltd. (Life & Health Insurance) (b) | 23,151 | ||||||
85,200 | Asm Pacific Technology Ltd. (Semiconductors & Semiconductor Equipment) | 713 | ||||||
757,000 | Beijing Enterprises Holdings Ltd. (Industrial Conglomerates) | 7,508 | ||||||
329,005 | BOC Hong Kong (Holdings) Ltd. (Diversified Banks) | 1,054 | ||||||
333,696 | Cheung Kong (Holdings) Ltd. (Diversified Real Estate Activities) | 5,268 | ||||||
221,534 | Cheung Kong Infrastructure Holdings Ltd. (Electric Utilities) | 1,399 | ||||||
854,000 | China Merchants Holdings (International) Co. Ltd. (Marine Ports & Services) | 3,117 | ||||||
157,419 | CLP Holdings Ltd. (Electric Utilities) | 1,244 | ||||||
4,543,000 | CNOOC Ltd. (Oil & Gas Exploration & Production) | 8,449 | ||||||
235,000 | Galaxy Entertainment Group Ltd. (Casinos & Gaming) (a) | 2,108 | ||||||
398,000 | Hang Lung Properties Ltd. (Real Estate Management & Development) | 1,258 | ||||||
99,909 | Hang Seng Bank Ltd. (Diversified Banks) | 1,620 | ||||||
2,367,000 | HKT Trust and HKT Ltd. (Integrated Telecommunication Services) | 2,338 | ||||||
333,543 | HongKong Land Holdings Ltd. (Real Estate Operating Companies) | 1,968 | ||||||
196,966 | Hopewell Holdings Ltd. (Diversified Real Estate Activities) | 667 | ||||||
99,000 | Hysan Development Co. (Real Estate Management & Development) | 426 |
See accompanying notes to financial statements.
93
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Hong Kong (continued) | ||||||||
115,500 | Kerry Properties Ltd. (Real Estate Management & Development) | $ | 401 | |||||
774,000 | Li & Fung Ltd. (Distributors) | 998 | ||||||
11,100 | Melco Crown Entertainment Ltd., ADR (Hotels, Restaurants & Leisure) (a) | 435 | ||||||
215,000 | MTR Corp. Ltd. (Road & Rail) | 814 | ||||||
674,000 | New World Development Co. Ltd. (Diversified Real Estate Activities) | 851 | ||||||
712,000 | PCCW Ltd. (Integrated Telecommunication Services) | 319 | ||||||
123,538 | Power Assets Holdings Ltd. (Electric Utilities) | 982 | ||||||
477,200 | Sands China Ltd. (Casinos & Gaming) | 3,899 | ||||||
529,839 | Sino Land Co. Ltd. (Real Estate Development) | 724 | ||||||
1,546,899 | SJM Holdings Ltd. (Casinos & Gaming) | 5,187 | ||||||
285,040 | Sun Hung Kai Properties Ltd. (Diversified Real Estate Activities) | 3,615 | ||||||
156,826 | Swire Pacific Ltd., Class – A (Diversified Real Estate Activities) | 1,838 | ||||||
208,200 | Swire Properties Ltd. (Real Estate Management & Development) | 526 | ||||||
110,541 | The Bank of East Asia Ltd. (Diversified Banks) | 468 | ||||||
1,158,355 | The Link Real Estate Investment Trust (Retail Real Estate Investment Trusts) | 5,617 | ||||||
415,300 | The Wharf (Holdings) Ltd. (Diversified Real Estate Activities) | 3,176 | ||||||
196,400 | Wynn Macau Ltd. (Casinos & Gaming) | 890 | ||||||
93,028 | ||||||||
Indonesia — 0.08% | ||||||||
982,500 | PT Astra International Tbk (Automobile Manufacturers) | 549 | ||||||
2,948,000 | PT Bank Rakyat Indonesia Persero Tbk (Diversified Banks) | 1,758 | ||||||
2,307 | ||||||||
Ireland — 0.72% | ||||||||
130,295 | Covidien PLC (Health Care Equipment & Supplies) | 8,873 | ||||||
128,515 | CRH PLC (Construction Materials) | 3,235 | ||||||
114,635 | Glanbia PLC (Packaged Foods & Meats) | 1,776 | ||||||
41,000 | Ryanair Holdings PLC – Sponsored ADR (Airlines) (a) | 1,924 | ||||||
134,570 | Smurfit Kappa Group PLC (Paper Packaging) | 3,312 | ||||||
59,104 | Smurfit Kappa Group PLC (Paper Packaging) | 1,452 | ||||||
20,572 | ||||||||
Israel — 0.26% | ||||||||
158,816 | Bank Leumi Le-Israel (Commercial Banks) (a) | 649 | ||||||
345,818 | Bezeq The Israeli Telecommunication Corp. Ltd. (Diversified Telecommunication Services) | 587 |
Shares | Security Description | Value (000) | ||||||
Israel (continued) | ||||||||
1,463 | Delek Group Ltd. (Oil & Gas Refining & Marketing) | $ | 559 | |||||
169,336 | Israel Chemicals Ltd. (Fertilizers & Agricultural Chemicals) | 1,412 | ||||||
293,955 | Isreal Discount Bank, Class – A (Commercial Banks) (a) | 562 | ||||||
88,844 | Teva Pharmaceutical Industries Ltd. (Pharmaceuticals) | 3,555 | ||||||
7,324 | ||||||||
Italy — 1.01% | ||||||||
46,926 | Assicurazioni Generali SpA (Multi-line Insurance) | 1,104 | ||||||
83,807 | Atlantia SpA (Highways & Railtracks) | 1,880 | ||||||
697,616 | Banco Popolare Societa Cooperativa (Commercial Banks) (a) | 1,338 | ||||||
416,764 | Enel SpA (Electric Utilities) | 1,819 | ||||||
806,799 | Eni SpA (Integrated Oil & Gas) | 19,411 | ||||||
126,879 | Snam Rete Gas SpA (Gas Utilities) | 710 | ||||||
729,844 | Telecom Italia SpA (Integrated Telecommunication Services) | 571 | ||||||
94,828 | Terna – Rete Elettrica Nationale SpA (Electric Utilities) | 474 | ||||||
222,519 | Unione di Banche Italiane ScpA (Commercial Banks) | 1,511 | ||||||
28,818 | ||||||||
Japan — 16.26% | ||||||||
36,100 | ADVANTEST Corp. (Semiconductor Equipment) | 448 | ||||||
166,225 | Aeon Co. Ltd. (Hypermarkets & Super Centers) | 2,250 | ||||||
4,900 | Aeon Credit Service Co. Ltd. (Consumer Finance) | 131 | ||||||
53,032 | Aisin Seiki Co. Ltd. (Auto Parts & Equipment) | 2,151 | ||||||
27,200 | Ajinomoto Co., Inc. (Packaged Foods & Meats) | 393 | ||||||
26,206 | Alfresa Holdings Corp. (Health Care Distributors) | 1,300 | ||||||
70,000 | Aozora Bank Ltd. (Diversified Banks) | 198 | ||||||
279,575 | Asahi Glass Co. Ltd. (Building Products) | 1,737 | ||||||
425,515 | Asahi Kasei Corp. (Commodity Chemicals) | 3,330 | ||||||
124,704 | Astellas Pharma, Inc. (Pharmaceuticals) | 7,379 | ||||||
19,849 | Benesse Holdings, Inc. (Education Services) | 796 | ||||||
117,000 | Bridgestone Corp. (Tires & Rubber) | 4,422 | ||||||
61,200 | Brother Industries Ltd. (Office Electronics) | 835 | ||||||
402,967 | Canon, Inc. (Office Electronics) | 12,745 | ||||||
58,000 | Casio Computer Co. Ltd. (Consumer Electronics) | 709 | ||||||
23,600 | Central Japan Railway Co. (Railroads) | 2,775 | ||||||
60,284 | Chugai Pharmaceutical Co. Ltd. (Pharmaceuticals) | 1,331 | ||||||
17,456 | Coca-Cola West Co. Ltd. (Soft Drinks) | 369 | ||||||
15,600 | Cocokara Fine, Inc. (Drug Retail) | 411 | ||||||
155,079 | Dai Nippon Printing Co. Ltd. (Commercial Printing) | 1,644 |
See accompanying notes to financial statements.
94
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
52,812 | Daihatsu Motor Co. Ltd. (Automobile Manufacturers) | $ | 894 | |||||
186,591 | Daiichi Sankyo Co. Ltd. (Pharmaceuticals) | 3,408 | ||||||
38,167 | Daito Trust Construction Co. Ltd. (Diversified Real Estate Activities) | 3,563 | ||||||
201,000 | Daiwa House Industry Co. Ltd. (Diversified Real Estate Activities) | 3,885 | ||||||
229,900 | Denso Corp. (Auto Parts & Equipment) | 12,118 | ||||||
13,900 | East Japan Railway Co. (Railroads) | 1,106 | ||||||
69,871 | Eisai Co. Ltd. (Pharmaceuticals) | 2,704 | ||||||
7,600 | Electric Power Development Co. Ltd. (Independent Power Producers & Energy Traders) | 221 | ||||||
15,700 | EXEDY Corp. (Auto Components) | 459 | ||||||
16,157 | FamilyMart Co. Ltd. (Food Retail) | 737 | ||||||
19,000 | Fanuc Ltd. (Industrial Machinery) | 3,474 | ||||||
127,000 | Fuji Heavy Industries Ltd. (Automobile Manufacturers) | 3,637 | ||||||
50,000 | Fukuoka Financial Group, Inc. (Regional Banks) | 219 | ||||||
76,100 | Hamamatsu Photonics K.K. (Electronic Equipment, Instruments & Components) | 3,039 | ||||||
93,000 | Hino Motors Ltd. (Construction & Farm Machinery & Heavy Trucks) | 1,459 | ||||||
29,982 | Hitachi Chemical Co. Ltd. (Specialty Chemicals) | 478 | ||||||
1,140,000 | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | 8,619 | ||||||
78,064 | Hokuhoku Financial Group, Inc. (Commercial Banks) | 156 | ||||||
693,759 | Honda Motor Co. Ltd. (Automobile Manufacturers) | 28,532 | ||||||
120,495 | HOYA Corp. (Electronic Equipment, Instruments & Components) | 3,344 | ||||||
22,904 | Idemitsu Kosan Co. Ltd. (Oil & Gas Refining & Marketing) | 521 | ||||||
1,537,000 | IHI Corp. (Industrial Machinery) | 6,627 | ||||||
462,468 | ITOCHU Corp. (Trading Companies & Distributors) | 5,706 | ||||||
6,593 | ITOCHU Techno-Solutions Corp. (IT Consulting & Other Services) | 267 | ||||||
20,000 | Japan Airlines Co. Ltd. (Airlines) | 986 | ||||||
54,000 | Japan Aviation Electronics Industry Ltd. (Electronic Equipment, Instruments & Components) | 693 | ||||||
96 | Japan Prime Realty Investment Corp. (Office Real Estate Investment Trusts) | 307 | ||||||
146 | Japan Real Estate Investment Corp. (Office Real Estate Investment Trusts) | 782 | ||||||
301 | Japan Retail Fund Investment Corp. (Retail Real Estate Investment Trusts) | 612 | ||||||
431,697 | Japan Tobacco, Inc. (Tobacco) | 14,022 | ||||||
120,000 | JGC Corp. (Construction & Engineering) | 4,702 | ||||||
73,545 | JS Group Corp. (Building Products) | 2,013 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
49,283 | JSR Corp. (Specialty Chemicals) | $ | 953 | |||||
621,924 | JX Holdings, Inc. (Oil & Gas Refining & Marketing) | 3,195 | ||||||
60,100 | Kakaku.com, Inc. (Internet Software & Services) | 1,054 | ||||||
80,602 | Kaneka Corp. (Commodity Chemicals) | 528 | ||||||
145,793 | Kao Corp. (Personal Products) | 4,583 | ||||||
350,000 | Kawasaki Heavy Industries Ltd. (Industrial Machinery) | 1,466 | ||||||
293,244 | KDDI Corp. (Wireless Telecommunication Services) | 18,020 | ||||||
19,150 | Keyence Corp. (Electronic Equipment, Instruments & Components) | 8,185 | ||||||
240,832 | Kirin Holdings Co. Ltd. (Brewers) | 3,461 | ||||||
244,400 | Komatsu Ltd. (Construction & Farm Machinery & Heavy Trucks) | 4,961 | ||||||
122,000 | Kubota Corp. (Construction & Farm Machinery & Heavy Trucks) | 2,015 | ||||||
92,829 | Kuraray Co. Ltd. (Commodity Chemicals) | 1,105 | ||||||
31,300 | Kurita Water Industries Ltd. (Industrial Machinery) | 649 | ||||||
63,853 | Kyowa Hakko Kirin Co. Ltd. (Pharmaceuticals) | 703 | ||||||
17,626 | Lawson, Inc. (Food Retail) | 1,317 | ||||||
1,218,131 | Marubeni Corp. (Trading Companies & Distributors) | 8,747 | ||||||
12,477 | Maruichi Steel Tube Ltd. (Steel) | 315 | ||||||
28,100 | Medipal Holdings Corp. (Health Care Distributors) | 370 | ||||||
15,400 | Miraca Holdings, Inc. (Health Care Providers & Services) | 725 | ||||||
58,500 | MIRAIT Holdings Corp. (Construction & Engineering) | 519 | ||||||
27,700 | Misawa Homes Co. Ltd. (Homebuilding) | 425 | ||||||
352,000 | Mitsubishi Chemical Holdings Corp. (Diversified Chemicals) | 1,626 | ||||||
412,240 | Mitsubishi Corp. (Trading Companies & Distributors) | 7,898 | ||||||
539,000 | Mitsubishi Materials Corp. (Diversified Metals & Mining) | 1,986 | ||||||
203,900 | Mitsubishi Motors Corp. (Automobile Manufacturers) (a) | 2,186 | ||||||
61,843 | Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals) | 861 | ||||||
1,418,782 | Mitsubishi UFJ Financial Group, Inc. (Diversified Banks) | 9,352 | ||||||
547,026 | Mitsui & Co. Ltd. (Trading Companies & Distributors) | 7,611 | ||||||
212,000 | Mitsui Chemicals, Inc. (Commodity Chemicals) | 511 | ||||||
1,095,000 | Mitsui Mining & Smelting Co. Ltd. (Metals & Mining) | 3,359 | ||||||
1,586,592 | Mizuho Financial Group, Inc. (Diversified Banks) | 3,436 | ||||||
59,500 | Murata Manufacturing Co. Ltd. (Electronic Equipment, Instruments & Components) | 5,278 |
See accompanying notes to financial statements.
95
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
491,327 | NGK Insulators Ltd. (Industrial Machinery) | $ | 9,323 | |||||
129,000 | Nikon Corp. (Photographic Products) | 2,461 | ||||||
11,900 | Nintendo Co. Ltd. (Home Entertainment Software) | 1,583 | ||||||
168 | Nippon Building Fund, Inc. (Office Real Estate Investment Trusts) | 977 | ||||||
221,172 | Nippon Express Co. Ltd. (Trucking) | 1,069 | ||||||
60,389 | Nippon Telegraph & Telephone Corp. (Integrated Telecommunication Services) | 3,246 | ||||||
867,279 | Nissan Motor Co. Ltd. (Automobile Manufacturers) | 7,282 | ||||||
57,500 | Nisshin Seifun Group, Inc. (Packaged Foods & Meats) | 594 | ||||||
16,200 | Nissin Foods Holdings Co. Ltd. (Packaged Foods & Meats) | 683 | ||||||
23,302 | NKSJ Holdings, Inc. (Property & Casualty Insurance) | 647 | ||||||
43 | Nomura Real Estate Office Fund, Inc. (Office Real Estate Investment Trusts) | 200 | ||||||
148,200 | North Pacific Bank Ltd. (Regional Banks) | 602 | ||||||
105,000 | NSK Ltd. (Industrial Machinery) | 1,304 | ||||||
210,000 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 3,440 | ||||||
218,090 | Oji Paper Co. Ltd. (Paper Products) | 1,116 | ||||||
161,000 | Okasan Securities Group, Inc. (Investment Banking & Brokerage) | 1,639 | ||||||
35,300 | Olympus Corp. (Health Care Equipment & Supplies) (a) | 1,116 | ||||||
70,329 | Ono Pharmaceutical Co. Ltd. (Pharmaceuticals) | 6,152 | ||||||
53,000 | Oracle Corp. Japan (Systems Software) | 1,935 | ||||||
187,700 | ORIX Corp. (Consumer Finance) | 3,293 | ||||||
130,477 | Osaka Gas Co. Ltd. (Gas Utilities) | 512 | ||||||
115,481 | Otsuka Holdings Co. Ltd. (Pharmaceuticals) | 3,334 | ||||||
249,400 | Panasonic Corp. (Consumer Electronics) | 2,899 | ||||||
27,400 | Park24 Co. Ltd. (Environmental & Facilities Services) | 516 | ||||||
130,485 | Resona Holdings, Inc. (Regional Banks) | 665 | ||||||
8,500 | Rinnai Corp. (Household Appliances) | 661 | ||||||
17,600 | Ryohin Keikaku Co. (General Merchandise Stores) | 1,901 | ||||||
14,804 | Sankyo Co. Ltd. (Leisure Products) | 682 | ||||||
20,235 | Santen Pharmaceutical Co. Ltd. (Pharmaceuticals) | 943 | ||||||
58,100 | SECOM Co. Ltd. (Security & Alarm Services) | 3,498 | ||||||
116,457 | Sekisui Chemical Co. Ltd. (Homebuilding) | 1,427 | ||||||
271,965 | Sekisui House Ltd. (Homebuilding) | 3,797 | ||||||
210,669 | Seven & I Holdings Co. Ltd. (Food Retail) | 8,364 | ||||||
40,196 | Seven Bank Ltd. (Regional Banks) | 157 | ||||||
129,900 | Shin-Etsu Chemical Co. Ltd. (Specialty Chemicals) | 7,575 | ||||||
82,829 | Shionogi & Co. Ltd. (Pharmaceuticals) | 1,794 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
389,000 | Showa Denko K.K. (Diversified Chemicals) | $ | 550 | |||||
48,900 | Showa Shell Sekiyu K.K. (Oil & Gas Refining & Marketing) | 496 | ||||||
6,900 | SMC Corp. (Industrial Machinery) | 1,737 | ||||||
107,500 | SoftBank Corp. (Wireless Telecommunication Services) | 9,393 | ||||||
325,100 | Sojitz Corp. (Trading Companies & Distributors) | 577 | ||||||
82,800 | Sony Corp. (Electronic Equipment, Instruments & Components) | 1,436 | ||||||
388,000 | Sumitomo Chemical Co. Ltd. (Diversified Chemicals) | 1,518 | ||||||
311,700 | Sumitomo Corp. (Trading Companies & Distributors) | 3,911 | ||||||
72,300 | Sumitomo Electric Industries Ltd. (Electrical Components & Equipment) | 1,204 | ||||||
136,000 | Sumitomo Metal Mining Co. Ltd. (Diversified Metals & Mining) | 1,779 | ||||||
361,423 | Sumitomo Mitsui Financial Group, Inc. (Diversified Banks) | 18,604 | ||||||
401,000 | Sumitomo Mitsui Trust Holdings, Inc. (Diversified Banks) | 2,110 | ||||||
47,131 | Sumitomo Rubber Industries Ltd. (Tires & Rubber) | 669 | ||||||
9,100 | Suzuki Motor Corp. (Automobile Manufacturers) | 244 | ||||||
17,700 | Sysmex Corp. (Health Care Equipment & Supplies) | 1,044 | ||||||
220,885 | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | 10,123 | ||||||
243,000 | Teijin Ltd. (Commodity Chemicals) | 540 | ||||||
88,750 | The Bank of Yokohama Ltd. (Regional Banks) | 494 | ||||||
44,000 | The Nishi-Nippon City Bank Ltd. (Regional Banks) | 118 | ||||||
89,000 | The San-in Godo Bank Ltd. (Regional Banks) | 637 | ||||||
55,000 | The Yokohama Rubber Co. Ltd. (Tires & Rubber) | 540 | ||||||
70,725 | Tokio Marine Holdings, Inc. (Property & Casualty Insurance) | 2,361 | ||||||
10,400 | Tokyo Electron Ltd. (Semiconductor Equipment) | 569 | ||||||
167,988 | Tokyo Gas Co. Ltd. (Gas Utilities) | 826 | ||||||
78,135 | TonenGeneral Sekiyu K.K. (Oil & Gas Refining & Marketing) | 716 | ||||||
152,545 | Toppan Printing Co. Ltd. (Commercial Printing) | 1,218 | ||||||
1,046,000 | Toshiba Corp. (Computer Hardware) | 4,391 | ||||||
94,000 | Toshiba TEC Corp. (Office Electronics) | 651 | ||||||
17,181 | Toyoda Gosei Co. Ltd. (Auto Parts & Equipment) | 399 | ||||||
338,000 | Toyota Motor Corp. (Automobile Manufacturers) | 20,609 | ||||||
65,700 | Trend Micro, Inc. (Systems Software) | 2,297 | ||||||
16,900 | Tsumura & Co. (Pharmaceuticals) | 447 | ||||||
280,839 | Ube Industries Ltd. (Diversified Chemicals) | 600 |
See accompanying notes to financial statements.
96
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
23,900 | Unicharm Corp. (Household Products) | $ | 1,362 | |||||
301 | United Urban Investment Corp. (Real Estate Investment Trusts (REITs)) | 433 | ||||||
60,100 | USS Co. Ltd. (Automotive Retail) | 824 | ||||||
104,868 | West Japan Railway Co. (Railroads) | 4,542 | ||||||
784,381 | Yahoo Japan Corp. (Internet Software & Services) | 4,358 | ||||||
128,200 | Yamada Denki Co. Ltd. (Computer & Electronics Retail) | 419 | ||||||
34,000 | Zeon Corp. (Specialty Chemicals) | 318 | ||||||
464,495 | ||||||||
Jersey — 0.73% | ||||||||
771,412 | Glencore International PLC (Diversified Metals & Mining) | 3,994 | ||||||
75,642 | Petrofac Ltd. (Oil & Gas Equipment & Services) | 1,533 | ||||||
120,653 | Shire PLC (Pharmaceuticals) | 5,697 | ||||||
51,367 | Wolseley PLC (Trading Companies & Distributors) | 2,913 | ||||||
289,009 | WPP PLC (Advertising) | 6,604 | ||||||
20,741 | ||||||||
Luxembourg — 0.32% | ||||||||
10,978 | Millicom International Cellular SA (Wireless Telecommunication Services) | 1,094 | ||||||
251,117 | SES – FDR, Class – A (Cable & Satellite) | 8,128 | ||||||
9,222 | ||||||||
Mexico — 0.19% | ||||||||
181,444 | Grupo Televisa SA, ADR (Media) | 5,490 | ||||||
Netherlands — 4.13% | ||||||||
339,635 | AEGON NV (Life & Health Insurance) | 3,206 | ||||||
225,547 | Akzo Nobel NV (Diversified Chemicals) | 17,480 | ||||||
118,477 | ASML Holding NV (Semiconductor Equipment) | 11,089 | ||||||
19,219 | ASML Holding NV – NYS (Semiconductor Equipment) | 1,801 | ||||||
2,755 | Corio NV (Retail Real Estate Investment Trusts) | 123 | ||||||
5,930 | Delta Lloyd NV (Life & Health Insurance) | 147 | ||||||
25,786 | European Aeronautic Defence & Space Co. (Aerospace & Defense) | 1,980 | ||||||
22,337 | Fugro NV (Oil & Gas Equipment & Services) | 1,331 | ||||||
59,418 | Gemalto NV (Computer Storage & Peripherals) | 6,540 | ||||||
132,152 | Koninklijke Ahold NV (Food Retail) | 2,372 | ||||||
9,977 | Koninklijke Boskalis Westminster NV (Construction & Engineering) | 527 | ||||||
84,416 | Koninklijke DSM NV (Diversified Chemicals) | 6,638 | ||||||
206,274 | Koninklijke Philips Electronics NV (Industrial Conglomerates) | 7,560 | ||||||
15,627 | Randstad Holding NV (Professional Services) | 1,014 |
Shares | Security Description | Value (000) | ||||||
Netherlands (continued) | ||||||||
685,005 | Reed Elsevier NV (Publishing) | $ | 14,511 | |||||
667,529 | TNT NV (Air Freight & Logistics) (a) | 3,811 | ||||||
710,126 | Unilever NV (Packaged Foods & Meats) | 28,597 | ||||||
38,616 | Wolters Kluwer NV (Publishing) | 1,102 | ||||||
50,800 | Yandex NV (Internet Software & Services) (a) | 2,192 | ||||||
128,933 | Ziggo NV (Alternative Carriers) (b) | 5,888 | ||||||
117,909 | ||||||||
New Zealand — 0.02% | ||||||||
284,666 | Telecom Corp. of New Zealand Ltd. (Integrated Telecommunication Services) | 539 | ||||||
Nigeria — 0.06% | ||||||||
1,540,495 | Nigerian Breweries PLC (Brewers) | 1,618 | ||||||
Norway — 0.54% | ||||||||
64,346 | DNB ASA (Diversified Banks) | 1,151 | ||||||
12,872 | Gjensidige Forsikring ASA (Multi-line Insurance) | 246 | ||||||
198,847 | Orkla ASA (Industrial Conglomerates) | 1,552 | ||||||
312,151 | Statoil ASA (Integrated Oil & Gas) | 7,568 | ||||||
150,173 | Telenor ASA (Diversified Telecommunication Services) | 3,581 | ||||||
31,674 | Yara International ASA (Fertilizers & Agricultural Chemicals) | 1,363 | ||||||
15,461 | ||||||||
Papua New Guinea — 0.11% | ||||||||
449,250 | Oil Search Ltd. (Oil & Gas Exploration & Production) | 3,252 | ||||||
Portugal — 0.10% | ||||||||
439,581 | EDP – Energias de Portugal SA (Electric Utilities) | 1,614 | ||||||
274,893 | Portugal Telecom SGPS SA, Registered Shares (Integrated Telecommunication Services) | 1,195 | ||||||
2,809 | ||||||||
Russia — 0.05% | ||||||||
6,295 | LUKOIL – Sponsored ADR (Integrated Oil & Gas) | 397 | ||||||
87,164 | Sberbank of Russia – Sponsored ADR (Diversified Banks) | 1,096 | ||||||
1,493 | ||||||||
Singapore — 1.24% | ||||||||
362,000 | Ascendas Real Estate Investment Trust (Industrial Real Estate Investment Trusts) | 631 | ||||||
354,909 | CapitaCommercial Trust (Office Real Estate Investment Trusts) | 408 | ||||||
430,000 | CapitaMall Trust (Retail Real Estate Investment Trusts) | 649 | ||||||
985,236 | ComfortDelGro Corp. Ltd. (Trucking) | 1,570 | ||||||
304,147 | DBS Group Holdings Ltd. (Diversified Banks) | 4,122 | ||||||
634,000 | Global Logistic Properties Ltd. (Real Estate Operating Companies) | 1,452 |
See accompanying notes to financial statements.
97
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Singapore (continued) | ||||||||
1,852,907 | Hutchison Port Holdings Trust (Marine Ports & Services) | $ | 1,251 | |||||
19,000 | Jardine Cycle & Carriage Ltd. (Distributors) | 541 | ||||||
462,791 | Keppel Corp. Ltd. (Industrial Conglomerates) | 4,106 | ||||||
123,000 | Keppel Land Ltd. (Real Estate Development) | 326 | ||||||
443,000 | M1 Ltd./Singapore (Wireless Telecommunication Services) | 1,148 | ||||||
1,558,897 | Olam International Ltd. (Food Distributors) | 1,897 | ||||||
715,000 | SembCorp Industries Ltd. (Industrial Conglomerates) | 3,111 | ||||||
965,000 | SembCorp Marine Ltd. (Construction & Farm Machinery & Heavy Trucks) | 3,404 | ||||||
431,399 | Singapore Exchange Ltd. (Specialized Finance) | 2,483 | ||||||
513,947 | Singapore Press Holdings Ltd. (Publishing) | 1,678 | ||||||
2,061,110 | Singapore Telecommunications Ltd. (Integrated Telecommunication Services) | 5,979 | ||||||
702,011 | Yangzijiang Shipbuilding Holdings Ltd. (Construction & Farm Machinery & Heavy Trucks) | 659 | ||||||
35,415 | ||||||||
South Africa — 0.02% | ||||||||
35,568 | Shoprite Holdings Ltd. (Food Retail) | 558 | ||||||
South Korea — 0.94% | ||||||||
8,803 | Hyundai Mobis Co. Ltd. (Auto Parts & Equipment) (a) | 2,449 | ||||||
152,420 | Korea Electric Power Corp. (Electric Utilities) (a) | 5,020 | ||||||
89,436 | KT&G Corp. (Tobacco) (a) | 6,314 | ||||||
1,150 | LG Household & Health Care Ltd. (Household Products) (a) | 597 | ||||||
6,227 | Samsung Electronics Co. Ltd. (Semiconductors) | 8,096 | ||||||
20,208 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 4,405 | ||||||
26,881 | ||||||||
Spain — 1.99% | ||||||||
104,386 | Abertis Infraestructuras SA (Transportation Infrastructure) | 2,319 | ||||||
117,222 | ACS Actividades de Construccion y Servicios SA (Construction & Engineering) | 4,034 | ||||||
712,462 | Banco Bilbao Vizcaya SA (Commercial Banks) | 8,770 | ||||||
1,509,591 | Banco Santander SA (Diversified Banks) | 13,510 | ||||||
561,511 | CaixaBank SA (Diversified Banks) (b) | 2,926 | ||||||
52,187 | Corporacion Mapfre (Insurance) | 223 | ||||||
49,586 | Enagas (Gas Utilities) | 1,295 | ||||||
218,348 | Ferrovial SA (Transportation Infrastructure) | 4,225 | ||||||
23,741 | Gas Natural SDG SA (Gas Utilities) | 611 |
Shares | Security Description | Value (000) | ||||||
Spain (continued) | ||||||||
9,720 | Grifols SA, ADR (Pharmaceuticals) | $ | 351 | |||||
59,199 | Grifols SA (Biotechnology) | 2,831 | ||||||
4,195 | Grifols SA, Class – B (Biotechnology) | 149 | ||||||
322,067 | Iberdrola SA (Electric Utilities) | 2,053 | ||||||
13,469 | Industria de Diseno Textil SA (Apparel Retail) | 2,220 | ||||||
7,340 | Red Electrica Corporacion SA (Electric Utilities) | 490 | ||||||
231,973 | Repsol YPF SA (Integrated Oil & Gas) | 5,846 | ||||||
91,811 | Tecnicas Reunidas SA (Oil & Gas Equipment & Services) | 4,987 | ||||||
56,840 | ||||||||
Sweden — 2.42% | ||||||||
96,994 | Assa Abloy AB, Class – B (Building Products) | 5,126 | ||||||
112,450 | Atlas Copco AB, A Shares (Industrial Machinery) | 3,118 | ||||||
15,972 | Axis Communications AB (Health Care Equipment & Supplies) | 556 | ||||||
90,879 | Boliden AB (Diversified Metals & Mining) | 1,391 | ||||||
198,972 | Electrolux AB, Series B (Household Appliances) | 5,214 | ||||||
331,943 | Hennes & Mauritz AB, B Shares (Apparel Retail) | 15,291 | ||||||
134,208 | Husqvarna (Household Durables) | 808 | ||||||
10,235 | Industrivarden AB, C Shares (Multi-Sector Holdings) | 195 | ||||||
235,493 | Nordea Bank AB (Diversified Banks) | 3,174 | ||||||
354,279 | Sandvik AB (Industrial Machinery) | 4,998 | ||||||
106,322 | Scania AB, B Shares (Machinery) | 2,082 | ||||||
104,040 | Securitas AB, B Shares (Security & Alarm Services) | 1,106 | ||||||
940,225 | Skandinaviska Enskilda Banken AB, Class – A (Diversified Banks) | 12,400 | ||||||
118,107 | Skanska AB, B Shares (Construction & Engineering) | 2,414 | ||||||
107,606 | Svenska Handelsbanken AB, A Shares (Diversified Banks) | 5,288 | ||||||
75,230 | Swedbank AB, A Shares (Diversified Banks) | 2,118 | ||||||
52,908 | Tele2 AB, B Shares (Wireless Telecommunication Services) | 599 | ||||||
395,660 | TeliaSonera AB (Integrated Telecommunication Services) | 3,295 | ||||||
69,173 | ||||||||
Switzerland — 9.10% | ||||||||
954,204 | ABB Ltd. – Registered (Heavy Electrical Equipment) | 25,123 | ||||||
24,334 | Actelion Ltd. – Registered (Biotechnology) | 2,056 | ||||||
4,541 | Baloise Holding AG – Registered (Multi-line Insurance) | 578 | ||||||
71,222 | Compagnie Financiere Richemont SA – Registered (Apparel, Accessories & Luxury Goods) | 7,092 | ||||||
19,049 | DKSH Holding Ltd. (Advertising) | 1,480 | ||||||
104,800 | Gam Holding Ltd. (Capital Markets) | 2,039 |
See accompanying notes to financial statements.
98
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Switzerland (continued) | ||||||||
6,935 | Givaudan SA – Registered (Specialty Chemicals) | $ | 9,907 | |||||
56,685 | Holcim Ltd. – Registered (Construction Materials) | 4,243 | ||||||
17,295 | Kuehne & Nagel International (Marine) | 2,271 | ||||||
653,240 | Nestle SA (Packaged Foods & Meats) | 47,832 | ||||||
484,840 | Novartis AG – Registered (Pharmaceuticals) | 38,709 | ||||||
7,862 | Partners Group Holding AG (Asset Management & Custody Banks) | 2,097 | ||||||
218,422 | Roche Holding AG – Genusscheine (Pharmaceuticals) | 61,034 | ||||||
1,388 | SGS SA – Registered (Research and Consulting Services) | 3,194 | ||||||
8,890 | Swiss Prime Site AG – Registered (Real Estate Operating Companies) | 688 | ||||||
73,415 | Swiss Re AG (Reinsurance) | 6,755 | ||||||
9,020 | Swisscom AG – Registered (Integrated Telecommunication Services) | 4,763 | ||||||
11,316 | Syngenta AG – Registered (Fertilizers & Agricultural Chemicals) | 4,507 | ||||||
8,491 | The Swatch Group AG (Apparel, Accessories & Luxury Goods) | 5,613 | ||||||
18,733 | The Swatch Group AG – Registered (Apparel, Accessories & Luxury Goods) | 2,109 | ||||||
943,154 | UBS AG – Registered (Diversified Capital Markets) | 17,894 | ||||||
34,849 | Zurich Financial Services AG (Multi-line Insurance) | 10,102 | ||||||
260,086 | ||||||||
Taiwan — 0.03% | ||||||||
22,516 | Catcher Technology Co. Ltd. – Registered, GDR (Computer Storage & Peripherals) | 731 | ||||||
United Kingdom — 19.84% | ||||||||
75,892 | Aberdeen Asset Management PLC (Asset Management & Custody Banks) | 628 | ||||||
40,464 | Admiral Group PLC (Property & Casualty Insurance) | 878 | ||||||
402,699 | Anglo American PLC (Diversified Metals & Mining) | 8,801 | ||||||
113,974 | Antofagasta PLC (Diversified Metals & Mining) | 1,555 | ||||||
33,061 | ARM Holdings PLC, ADR (Semiconductors) | 602 | ||||||
8,261 | ASOS PLC (Internet Retail) (a) | 838 | ||||||
310,712 | AstraZeneca PLC (Pharmaceuticals) | 18,389 | ||||||
1,058,867 | Aviva PLC (Multi-line Insurance) | 7,884 | ||||||
938,689 | BAE Systems PLC (Aerospace & Defense) | 6,761 | ||||||
854,258 | Balfour Beatty PLC (Construction & Engineering) | 4,058 | ||||||
3,263,263 | Barclays PLC (Diversified Banks) | 14,694 | ||||||
388,291 | BG Group PLC (Integrated Oil & Gas) | 8,342 | ||||||
577,164 | BHP Billiton PLC (Diversified Metals & Mining) | 17,860 | ||||||
3,108,380 | BP PLC (Integrated Oil & Gas) | 25,118 | ||||||
593,327 | British American Tobacco PLC (Tobacco) | 31,809 |
Shares | Security Description | Value (000) | ||||||
United Kingdom (continued) | ||||||||
124,673 | British Land Co. PLC (Diversified Real Estate Investment Trusts) | $ | 1,298 | |||||
306,314 | British Sky Broadcasting Group PLC (Cable & Satellite) | 4,280 | ||||||
983,313 | BT Group PLC (Integrated Telecommunication Services) | 6,177 | ||||||
35,468 | Burberry Group PLC (Textiles, Apparel & Luxury Goods) | 890 | ||||||
88,542 | Capital Shopping Centres Group PLC (Retail Real Estate Investment Trusts) | 454 | ||||||
141,315 | Carnival PLC (Hotels, Resorts & Cruise Lines) | 5,851 | ||||||
1,067,601 | Centrica PLC (Multi-Utilities) | 6,146 | ||||||
156,646 | Diageo PLC (Distillers & Vintners) | 5,187 | ||||||
44,900 | Ensco PLC, ADR (Oil & Gas Drilling) | 2,567 | ||||||
7,358 | GKN PLC (Auto Parts & Equipment) | 45 | ||||||
888,515 | GlaxoSmithKline PLC (Pharmaceuticals) | 23,707 | ||||||
233,000 | Grainger PLC (Real Estate Operating Companies) | 786 | ||||||
40,600 | Greene King PLC (Restaurants) | 592 | ||||||
556,662 | Home Retail Group PLC (Catalog Retail) | 1,769 | ||||||
2,546,513 | HSBC Holdings PLC (Diversified Banks) | 27,929 | ||||||
807,796 | HSBC Holdings PLC (HK) (Diversified Banks) | 8,767 | ||||||
55,319 | ICAP PLC (Investment Banking & Brokerage) | 414 | ||||||
33,791 | IMI PLC (Industrial Machinery) | 853 | ||||||
606,830 | Imperial Tobacco Group PLC (Tobacco) | 23,491 | ||||||
54,300 | Inchcape PLC (Distributors) | 552 | ||||||
64,801 | Inmarsat PLC (Alternative Carriers) | 811 | ||||||
110,518 | InterContinental Hotels Group PLC (Hotels, Resorts & Cruise Lines) | 3,684 | ||||||
1,014,239 | International Consolidated Airlines Group SA (Airlines) (a)(b) | 6,741 | ||||||
39,736 | Investec PLC (Diversified Capital Markets) | 288 | ||||||
1,241,398 | ITV PLC (Broadcasting) | 3,987 | ||||||
354,848 | J Sainsbury PLC (Food Retail) | 2,144 | ||||||
66,964 | John Wood Group PLC (Oil & Gas Equipment & Services) | 761 | ||||||
109,849 | Johnson Matthey PLC (Specialty Chemicals) | 5,966 | ||||||
381,559 | Land Securities Group PLC (Diversified Real Estate Investment Trusts) | 6,087 | ||||||
422,383 | Legal & General Group PLC (Life & Health Insurance) | 1,557 | ||||||
7,230 | Liberty Global PLC, Series C (Cable & Satellite) (a) | 610 | ||||||
96,038 | Liberty Global PLC, Class – A (Cable & Satellite) (a) | 8,547 | ||||||
13,365,782 | Lloyds Banking Group PLC (Diversified Banks) (a)(b) | 17,456 | ||||||
227,500 | Marks & Spencer Group PLC (Department Stores) | 1,629 | ||||||
1,064,187 | Meggitt PLC (Aerospace & Defense) | 9,294 | ||||||
116,500 | Merlin Entertainments PLC (Hotels, Restaurants & Leisure) (a)(b) | 690 |
See accompanying notes to financial statements.
99
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United Kingdom (continued) | ||||||||
640,792 | Michael Page International PLC (Human Resource & Employment Services) | $ | 5,178 | |||||
43,092 | Micro Focus International PLC (Application Software) | 548 | ||||||
444,714 | National Grid PLC (Multi-Utilities) | 5,802 | ||||||
18,972 | Next PLC (Department Stores) | 1,712 | ||||||
475,300 | Ocado Group PLC (Internet Retail) (a) | 3,475 | ||||||
434,300 | Ophir Energy PLC (Oil & Gas Exploration & Production) (a) | 2,357 | ||||||
87,553 | Persimmon PLC (Homebuilding) | 1,796 | ||||||
31,529 | Provident Financial PLC (Consumer Finance) | 848 | ||||||
519,348 | Prudential PLC (Life & Health Insurance) | 11,523 | ||||||
17,109 | RecKitt Benckiser Group PLC (Household Products) | 1,358 | ||||||
96,571 | Resolution Ltd. (Life & Health Insurance) | 566 | ||||||
620,722 | Rexam PLC (Metal & Glass Containers) | 5,452 | ||||||
499,139 | Rio Tinto PLC (Diversified Metals & Mining) | 28,178 | ||||||
912,544 | Rolls-Royce Holdings PLC (Aerospace & Defense) | 19,264 | ||||||
477,752 | Royal Dutch Shell PLC, A Shares (Integrated Oil & Gas) | 17,110 | ||||||
111,574 | Royal Dutch Shell PLC, A Shares (Integrated Oil & Gas) | 3,976 | ||||||
428,829 | Royal Dutch Shell PLC, B Shares (Integrated Oil & Gas) | 16,188 | ||||||
333,962 | Royal Mail PLC (Air Freight & Logistics) (a)(b) | 3,152 | ||||||
248,688 | RSA Insurance Group PLC (Multi-line Insurance) | 376 | ||||||
212,822 | SABMiller PLC (Brewers) | 10,927 | ||||||
98,164 | SEGRO PLC (Industrial Real Estate Investment Trusts) | 543 | ||||||
16,477 | Severn Trent PLC (Water Utilities) | 465 | ||||||
69,257 | SSE PLC (Electric Utilities) | 1,571 | ||||||
130,993 | Standard Chartered PLC (Diversified Banks) | 2,950 | ||||||
169,164 | Standard Life PLC (Life & Health Insurance) | 1,007 | ||||||
3,905,516 | Tesco PLC (Food Retail) | 21,620 | ||||||
326,414 | The Sage Group PLC (Application Software) | 2,182 | ||||||
919,795 | Thomas Cook Group PLC (Hotels, Restaurants & Leisure) (a) | 2,546 | ||||||
108,855 | Tui Travel PLC (Hotels, Resorts & Cruise Lines) | 745 | ||||||
186,696 | Tullow Oil PLC (Oil & Gas Exploration & Production) | 2,643 | ||||||
43,922 | Unilever PLC (Packaged Foods & Meats) | 1,805 | ||||||
49,733 | United Utilities Group PLC (Multi-Utilities) | 553 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
United Kingdom (continued) | ||||||||
10,241,372 | Vodafone Group PLC (Wireless Telecommunication Services) | $ | 40,188 | |||||
30,168 | WH Smith PLC (Specialty Stores) | 500 | ||||||
United Kingdom (continued) | ||||||||
67,456 | Whitbread PLC (Restaurants) | 4,189 | ||||||
751,280 | William Morrison Supermarkets PLC (Food Retail) | 3,247 | ||||||
566,764 | ||||||||
United States — 0.03% | ||||||||
20,906 | Nielsen Holdings NV (Research and Consulting Services) | 959 | ||||||
Total Common Stocks | 2,609,618 | |||||||
Preferred Stocks — 0.24% | ||||||||
Germany — 0.24% | ||||||||
5,058 | Bayerische Motoren Werke AG – Preferred (Automobile Manufacturers) | 432 | ||||||
56,409 | Henkel AG & Co. KGaA – Preferred (Household Products) | 6,542 | ||||||
6,974 | ||||||||
Total Preferred Stocks | 6,974 | |||||||
Warrant — 0.00% | ||||||||
Singapore — 0.00% | ||||||||
252,000 | Olam International Ltd. (Food Distributors) (a) | 63 | ||||||
Total Warrant | 63 | |||||||
Right — 0.01% | ||||||||
Spain — 0.01% | ||||||||
222,706 | Repsol SA (Integrated Oil & Gas)(a) | 152 | ||||||
Total Right | 152 | |||||||
Time Deposit — 0.44% | ||||||||
$12,709 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/14 | 12,709 | ||||||
Total Time Deposit | 12,709 | |||||||
Mutual Funds — 8.51% | ||||||||
37,706,000 | Dreyfus Treasury Prime Cash Management Fund, 0.00% (c) | 37,706 | ||||||
4,871,006 | iShares MSCI Emerging Markets Index Fund ETF, 1.25% (c) | 203,461 | ||||||
42,000 | SSgA Treasury Money Market Fund, 0.00% (c) | 42 | ||||||
1,847,000 | SSgA U.S. Government Money Market Fund, 0.00% (c) | 1,847 | ||||||
Total Mutual Funds | 243,056 | |||||||
Total Investments (cost $2,317,526) — 100.56% | 2,872,572 | |||||||
Liabilities in excess of other assets — (0.56%) | (15,977 | ) | ||||||
Net Assets — 100.00% | $ | 2,856,595 |
(a) | Represents non-income producing security. |
(b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
See accompanying notes to financial statements.
100
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
(c) | The rate disclosed is the rate in effect on December 31, 2013. |
ADR — American Depositary Receipt
ETF — Exchange Traded Fund
FDR — Fiduciary Depositary Receipt
GDR — Global Depositary Receipt
NYS — New York Registered Shares
REIT — Real Estate Investment Trust
The following table reflects the percentage of the total net assets of the Portfolio attributable to each Specialist Manager, see Note 3 in the Notes to Financial Statements.
The Institutional International Equity Portfolio | Artisan Partners LP | Cadence Capital Management, LLC | Capital Guardian Trust Co. | Causeway Capital Management LLC | Lazard Asset Management LLC | Mellon Capital Management Corp. – MSCI Japan | Mellon Capital Management Corp. – MSCI EM | Total | ||||||||||||||||||||||||
Common Stocks | 14.66 | % | 38.24 | % | 13.54 | % | 14.39 | % | 10.53 | % | — | — | 91.36 | % | ||||||||||||||||||
Preferred Stocks | 0.23 | % | 0.01 | % | — | — | — | — | — | 0.24 | % | |||||||||||||||||||||
Warrant | — | — | 0.00 | % | — | — | — | — | 0.00 | % | ||||||||||||||||||||||
Right | — | 0.01 | % | — | — | — | — | — | 0.01 | % | ||||||||||||||||||||||
Time Deposit | 0.13 | % | — | 0.31 | % | — | — | — | — | 0.44 | % | |||||||||||||||||||||
Mutual Fund | — | 1.32 | % | — | — | 0.07 | % | 0.00 | % | 7.12 | % | 8.51 | % | |||||||||||||||||||
Other Assets (Liabilities) | 0.22 | % | -1.20 | % | 0.04 | % | 0.35 | % | 0.01 | % | 0.02 | % | 0.00 | % | -0.56 | % | ||||||||||||||||
Total Investments | 15.24 | % | 38.38 | % | 13.89% | 14.74% | 10.61 | % | 0.02 | % | 7.12 | % | 100.00 | % |
See accompanying notes to financial statements.
101
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2013.
Currency Contracts
Contract Amount (Local Currency) | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/13 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Purchased | ||||||||||||||||||||||||
1,255,086 | Danish Krone | Deutsche Bank | 1/6/14 | $ | 232 | $ | 231 | $ | (1 | ) | ||||||||||||||
2,038,370 | Danish Krone | Deutsche Bank | 1/3/14 | 376 | 376 | — | ||||||||||||||||||
39,015 | Euro | Deutsche Bank | 1/7/14 | 54 | 54 | — | ||||||||||||||||||
223,738 | Euro | Deutsche Bank | 1/6/14 | 309 | 308 | (1 | ) | |||||||||||||||||
440,310 | Euro | Deutsche Bank | 1/3/14 | 606 | 606 | — | ||||||||||||||||||
544,399,622 | Japanese Yen | Deutsche Bank | 1/7/14 | 5,191 | 5,172 | (19 | ) | |||||||||||||||||
355,992,616 | Japanese Yen | Deutsche Bank | 1/8/14 | 3,384 | 3,381 | (3 | ) | |||||||||||||||||
10,191 | New Zealand Dollar | Deutsche Bank | 1/6/14 | 8 | 8 | — | ||||||||||||||||||
2,112,356 | Norwegian Krone | Deutsche Bank | 1/3/14 | 345 | 348 | 3 | ||||||||||||||||||
1,306,146 | Norwegian Krone | Deutsche Bank | 1/6/14 | 215 | 215 | — | ||||||||||||||||||
141,522 | Swedish Krona | Bank of America | 1/7/14 | 22 | 22 | — | ||||||||||||||||||
4,197,266 | Swedish Krona | Deutsche Bank | 1/7/14 | 654 | 653 | (1 | ) | |||||||||||||||||
6,778,185 | Swedish Krona | Deutsche Bank | 1/3/14 | 1,041 | 1,054 | 13 | ||||||||||||||||||
359,687 | Swedish Krona | UBS Warburg | 1/3/14 | 55 | 56 | 1 | ||||||||||||||||||
1,395,081 | Swiss Franc | Deutsche Bank | 1/6/14 | 1,574 | 1,564 | (10 | ) | |||||||||||||||||
Total Currencies Purchased | $ | 14,066 | $ | 14,048 | $ | (18 | ) | |||||||||||||||||
Currencies Sold | ||||||||||||||||||||||||
1,801,000 | Euro | Bank of New York | 1/10/14 | $ | 2,446 | $ | 2,477 | $ | (31 | ) | ||||||||||||||
715,747,000 | Japanese Yen | Credit Suisse | 1/21/14 | 6,949 | 6,800 | 149 | ||||||||||||||||||
55,208,276 | Japanese Yen | Mellon Bank | 1/6/14 | 527 | 524 | 3 | ||||||||||||||||||
192,469,000 | Japanese Yen | Bank of New York | 1/21/14 | 1,838 | 1,828 | 10 | ||||||||||||||||||
3,640,183 | Japanese Yen | Bank of New York | 1/6/14 | 35 | 35 | — | ||||||||||||||||||
46,055,788 | Japanese Yen | UBS Warburg | 1/7/14 | 438 | 437 | 1 | ||||||||||||||||||
244,315,597 | Japanese Yen | Merrill Lynch | 1/7/14 | 2,329 | 2,320 | 9 | ||||||||||||||||||
26,029,714 | Japanese Yen | Bank of America | 1/7/14 | 248 | 248 | — | ||||||||||||||||||
12,524,977 | Japanese Yen | Mellon Bank | 1/7/14 | 119 | 119 | — | ||||||||||||||||||
186,224,680 | Japanese Yen | Morgan Stanley | 1/8/14 | 1,770 | 1,769 | 2 | ||||||||||||||||||
22,178,499 | Japanese Yen | Bank of New York | 1/8/14 | 211 | 211 | — | ||||||||||||||||||
Total Currencies Sold | $ | 16,910 | $ | 16,767 | $ | 143 | ||||||||||||||||||
Net Unrealized/Appreciation (Depreciation) | $ | 125 |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
102
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 92.98% | ||||||||
Austria — 0.20% | ||||||||
78,993 | Erste Group Bank AG (Commercial Banks) | $ | 2,752 | |||||
Bermuda — 0.68% | ||||||||
6,152,542 | Cosco Pacific Ltd. (Marine Ports & Services) | 8,442 | ||||||
856,000 | Sihuan Pharmaceutical Holdings Group Ltd. (Pharmaceuticals) | 782 | ||||||
9,224 | ||||||||
Brazil — 10.86% | ||||||||
54,654 | AES Tiete SA – Preferred (Independent Power Producers & Energy Traders) | 442 | ||||||
100,600 | Ambev SA, ADR (Brewers) | 739 | ||||||
239,500 | Arteris SA (Highways & Railtracks) | 1,934 | ||||||
150,530 | Banco Bradesco SA – Sponsored ADR (Diversified Banks) | 1,886 | ||||||
598,347 | Banco do Brasil SA (Diversified Banks) | 6,189 | ||||||
566,828 | Banco Santander Brasil SA (Biotechnology) | 3,359 | ||||||
2,751,810 | Banco Santander Brasil SA – Sponsored ADR (Diversified Banks) | 16,786 | ||||||
371,300 | BB Seguridade Participacoes SA (Multi-line Insurance) | 3,856 | ||||||
526,500 | Brasil Insurance Participacoes e Adminstracao SA (Insurance Brokers) | 4,073 | ||||||
425,060 | Cia de Saneamento Basico do Estado de Sao Paulo SABESP – Sponsored ADR (Water Utilities) | 4,820 | ||||||
383,500 | Cielo S.A. (IT Services) | 10,673 | ||||||
15,775 | Companhia Brasileira de Destribuicao Grupo PAO de (Hypermarkets & Super Centers) | 702 | ||||||
118,684 | CPFL Energia SA (Electric Utilities) | 960 | ||||||
479,800 | Diagnosticos da America SA (Health Care Providers & Services) | 2,962 | ||||||
291,500 | Direcional Engenharia SA (Homebuilding) | 1,484 | ||||||
1,124,747 | EDP – Energias do Brasil SA (Electric Utilities) | 5,412 | ||||||
531,300 | Even Construtora E Incorporadora SA (Household Products) | 1,836 | ||||||
119,100 | EZ Tec Empreendimentos e Participacoes SA (Homebuilding) | 1,471 | ||||||
206,200 | Gafisa SA – Sponsored ADR (Homebuilding) (a) | 645 | ||||||
75,340 | Gerdau SA – Sponsored ADR (Steel) | 591 | ||||||
234,800 | Grupo BTG Pactual (Diversified Financial Services) | 2,721 | ||||||
455,469 | Itau Unibanco Holding SA (Diversified Banks) | 6,053 | ||||||
603,072 | Itau Unibanco Holding SA – Sponsored ADR (Diversified Banks) | 8,184 | ||||||
41,215 | Itausa – Investimentos Itau SA (Diversified Banks) | 156 | ||||||
1,056,900 | JBS SA (Packaged Foods & Meats) | 3,929 | ||||||
1,077,700 | Magnesita Refratarios SA (Construction Materials (b) | 2,696 |
Shares | Security Description | Value (000) | ||||||
Brazil (continued) | ||||||||
1,880,390 | Petroleo Brasileiro SA – Sponsored ADR (Integrated Oil & Gas) | $ | 25,912 | |||||
59,761 | Porto Seguro SA (Multi-line Insurance) | 754 | ||||||
421,210 | Sul America SA (Multi-line Insurance) | 2,641 | ||||||
260,740 | Telefonica Brasil SA – Sponsored ADR (Integrated Telecommunication Services) | 5,011 | ||||||
79,892 | Tractebel Energia SA (Independent Power Producers & Energy Traders) | 1,218 | ||||||
40,700 | Transmissora Alianca de Energia Eletrica SA (Electric Utilities) | 314 | ||||||
57,187 | Tupras-Turkiye Petrol Rafinerileri AS (Oil & Gas Refining & Marketing) | 1,143 | ||||||
862,950 | Vale SA – Sponsored ADR (Steel) | 13,160 | ||||||
344,107 | Via Varejo SA (Specialty Retail) (a) (c) | 3,669 | ||||||
148,381 | ||||||||
Cayman Islands — 0.59% | ||||||||
643,000 | Anta Sports Products Ltd. (Textiles, Apparel & Luxury Goods) | 796 | ||||||
347,500 | Asia Cement China Holdings Corp. (Construction Materials) | 219 | ||||||
1,430,000 | Bosideng International Holdings Ltd. (Apparel, Accessories & Luxury Goods) | 269 | ||||||
144,000 | Dongyue Group Ltd. (Specialty Chemicals) | 57 | ||||||
542,000 | Greentown China Holdings Ltd. (Real Estate Development) | 828 | ||||||
73,000 | Mstar Semiconductor, Inc. (Semiconductors) | 850 | ||||||
16,264,000 | Parkson Retail Group Ltd. (Department Stores) | 5,013 | ||||||
8,032 | ||||||||
Chile — 0.39% | ||||||||
556,102 | AES Gener SA (Home Entertainment Software) | 308 | ||||||
534,234 | Aguas Andinas SA, Class – A (Water Utilities) | 345 | ||||||
4,346,512 | Banco de Chile SA (Diversified Banks) | 632 | ||||||
7,483 | Banco de Credito e Inversiones SA (Diversified Banks) | 415 | ||||||
15,471,559 | Banco Santander Chile (Diversified Banks) | 898 | ||||||
6,510 | Banco Santander Chile SA, ADR (Commercial Banks) | 153 | ||||||
17,339 | Cap SA (Steel) | 330 | ||||||
30,858,237 | CorpBanca SA (Diversified Banks) | 426 | ||||||
762,904 | Empresa Nacional de Electricidad SA (Independent Power Producers & Energy Traders) | 1,136 | ||||||
26,875 | Empresa Nacional de Telecomunicaciones SA (Wireless Telecommunication Services) | 365 | ||||||
193,015 | Vina Concha y Toro SA (Distillers & Vintners) | 362 | ||||||
5,370 |
See accompanying notes to financial statements.
103
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
China — 14.41% | ||||||||
5,823,000 | Agricultural Bank of China Ltd., H Shares (Diversified Banks) | $ | 2,861 | |||||
756,000 | Air China Ltd. (Airlines) | 565 | ||||||
1,952,500 | Anhui Conch Cement Co. Ltd., H Shares (Construction Materials) | 7,239 | ||||||
30,658,100 | Bank of China Ltd., H Shares (Diversified Banks) | 14,115 | ||||||
6,806,000 | Beijing Capital International Airport Co. Ltd., H Shares (Airport Services) | 5,328 | ||||||
2,102,000 | China CITIC Bank Corp. Ltd., H Shares (Real Estate Development) | 1,141 | ||||||
2,110,000 | China Coal Energy Co. Ltd., H Shares (Coal & Consumable Fuels) | 1,186 | ||||||
6,038,000 | China Communications Services Corp. Ltd., H Shares (Integrated Telecommunication Services) | 3,738 | ||||||
38,186,250 | China Construction Bank Corp., H Shares (Diversified Banks) | 28,811 | ||||||
1,380,000 | China Life Insurance Co. Ltd., H Shares (Life & Health Insurance) | 4,316 | ||||||
1,877,000 | China Machinery Engineering Corp., H Shares (Construction & Engineering) | 1,518 | ||||||
2,045,500 | China Minsheng Banking Corp. Ltd., H Shares (Diversified Banks) | 2,271 | ||||||
109,950 | China Mobile Ltd. – Sponsored ADR (Wireless Telecommunication Services) | 5,749 | ||||||
1,152,000 | China National Building Material Co. Ltd., H Shares (Construction Materials) | 1,239 | ||||||
14,339,400 | China Petroleum & Chemical Corp., H Shares (Integrated Oil & Gas) | 11,706 | ||||||
4,388,000 | China Power International Development Ltd. (Independent Power Producers & Energy Traders) | 1,561 | ||||||
2,658,500 | China Railway Construction Corp. Ltd., H Shares (Construction & Engineering) | 2,647 | ||||||
6,714,000 | China Railway Group Ltd., H Shares (Construction & Engineering) | 3,463 | ||||||
1,854,000 | China Shenhua Energy Co. Ltd., H Shares (Coal & Consumable Fuels) | 5,846 | ||||||
928,000 | China Southern Airlines Co. Ltd., H Shares (Airlines) | 361 | ||||||
608,000 | Chongqing Rural Commercial Bank Co. Ltd., H Shares (Regional Banks) | 295 | ||||||
690,000 | Datang International Power Generation Co. Ltd., H Shares (Independent Power Producers & Energy Traders) | 319 | ||||||
2,015,600 | Dongfang Electric Corp. Limited (Heavy Electrical Equipment) | 3,535 | ||||||
3,827,000 | Dongfeng Motor Group Co. Ltd., H Shares (Automobile Manufacturers) | 5,991 | ||||||
374,000 | ENN Energy Holdings Ltd. (Gas Utilities) | 2,766 |
Shares | Security Description | Value (000) | ||||||
China (continued) | ||||||||
24,281,200 | Global Bio-Chem Technology Group Co. Ltd. (Agricultural Products) (a)(b) | $ | 1,879 | |||||
710,500 | Great Wall Motor Co. Ltd., H Shares (Automobile Manufacturers) | 3,922 | ||||||
1,331,324 | Guangzhou Automobile Group Co. Ltd., H Shares (Automobile Manufacturers) | 1,456 | ||||||
1,764,000 | Huaneng Power International, Inc., H Shares (Electric Utilities) | 1,595 | ||||||
35,330,440 | Industrial & Commercial Bank of China Ltd., H Shares (Diversified Banks) | 23,876 | ||||||
1,271,820 | Inner Mongolia Yitai Coal Co. Ltd., Class – B (Coal & Consumable Fuels) | 2,250 | ||||||
626,000 | Jiangsu Expressway Co. Ltd., H Shares (Highways & Railtracks) | 769 | ||||||
356,000 | Jiangxi Copper Co. Ltd., H Shares (Diversified Metals & Mining) | 643 | ||||||
6,132,000 | Lianhua Supermarket Holdings Ltd., H Shares (Hypermarkets & Super Centers) (b) | 4,745 | ||||||
7,368,000 | PetroChina Co. Ltd., H Shares (Integrated Oil & Gas) | 8,077 | ||||||
4,950 | PetroChina Co. Ltd. – Sponsored ADR (Integrated Oil & Gas) | 543 | ||||||
4,271,340 | PICC Property & Casualty Co. Ltd., H Shares (Property & Casualty Insurance) | 6,335 | ||||||
436,500 | Ping An Insurance Group Co. of China (Insurance) | 3,910 | ||||||
870,000 | Shimao Property Holdings Ltd. (Real Estate Development) | 1,999 | ||||||
917,500 | Shui On Land Ltd. (Independent Power Producers & Energy Traders) | 282 | ||||||
11,634,000 | Sinotrans Ltd., H Shares (Air Freight & Logistics) | 4,396 | ||||||
474,500 | Soho China Ltd. (Real Estate Development) | 409 | ||||||
70,200 | Tencent Holdings Ltd. (Internet Software & Services) | 4,478 | ||||||
100,000 | Tsingtao Brewery Co. Ltd. (Brewers) | 845 | ||||||
1,080,000 | Weiqiao Textile Co. Ltd., H Shares (Textiles) | 663 | ||||||
5,372,000 | Zhejiang Expressway Co. Ltd., H Shares (Highways & Railtracks) | 5,079 | ||||||
1,534,000 | Zijin Mining Group Co. Ltd., H Shares (Gold) | 328 | ||||||
197,046 | ||||||||
Colombia — 0.44% | ||||||||
2,457,130 | Ecopetrol SA (Integrated Oil & Gas) | 4,713 | ||||||
813,723 | Grupo Aval Acciones y Valores SA (Diversified Banks) | 546 | ||||||
434,483 | ISAGEN SA ESP (Electric Utilities) | 732 | ||||||
5,991 | ||||||||
Czech Republic — 0.41% | ||||||||
128,705 | CEZ A/S (Electric Utilities) | 3,353 |
See accompanying notes to financial statements.
104
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Czech Republic (continued) | ||||||||
9,987 | Komercni Banka A/S (Diversified Banks) | $ | 2,225 | |||||
5,578 | ||||||||
Egypt — 0.01% | ||||||||
81,950 | Telecom Egypt Co. (Integrated Telecommunication Services) | 173 | ||||||
Greece — 0.07% | ||||||||
49,737 | Motor Oil (Hellas) Corinth Refineries SA (Integrated Oil & Gas) | 562 | ||||||
28,560 | Opap SA (Hotels, Restaurants & Leisure) | 380 | ||||||
942 | ||||||||
Hong Kong — 4.17% | ||||||||
352,000 | Agile Property Holdings Ltd. (Real Estate Management & Development) | 377 | ||||||
1,814,000 | China Mobile Ltd. (Wireless Telecommunication Services) | 18,809 | ||||||
1,458,000 | China Resources Power Holdings Co. Ltd. (Independent Power Producers & Energy Traders) | 3,456 | ||||||
749,000 | CITIC Pacific Ltd. (Industrial Conglomerates) | 1,146 | ||||||
5,637,000 | CNOOC Ltd. (Oil & Gas Exploration & Production) | 10,483 | ||||||
337 | Evergrande Real Estate Group Ltd. (Real Estate Development) | — | (d) | |||||
1,312,000 | Guangdong Investment Ltd. (Water Utilities) | 1,283 | ||||||
1,693,200 | Guangzhou R&F Properties Co. Ltd., H Shares (Real Estate Development) | 2,476 | ||||||
1,684,000 | Lenovo Group Ltd. (Computer Storage & Peripherals) | 2,048 | ||||||
3,725,656 | NWS Holdings Ltd. (Industrial Conglomerates (b) | 5,679 | ||||||
2,556,000 | Shanghai Industrial Holdings Ltd. (Industrial Conglomerates) | 9,345 | ||||||
4,544,000 | Shougang Fushan Resources Group Ltd. (Diversified Metals & Mining) | 1,594 | ||||||
1,306,000 | Yuexiu Property Co. Ltd. (Diversified Real Estate Activities) | 322 | ||||||
57,018 | ||||||||
Hungary — 0.57% | ||||||||
256,980 | OTP Bank Nyrt PLC (Electrical Components & Equipment) | 4,880 | ||||||
139,650 | Richter Gedeon Nyrt (Pharmaceuticals) | 2,846 | ||||||
7,726 | ||||||||
India — 8.73% | ||||||||
39,275 | Bajaj Auto Ltd. (Motorcycle Manufacturers) | 1,213 | ||||||
9,114 | Bank of Baroda (Diversified Banks) | 95 | ||||||
25,584 | Bank of India (Commercial Banks) | 98 | ||||||
2,270,802 | Bharat Heavy Electricals Ltd. (Heavy Electrical Equipment) | 6,495 | ||||||
217,896 | Cairn India Ltd. (Oil, Gas & Consumable Fuels) | 1,141 |
Shares | Security Description | Value (000) | ||||||
India (continued) | ||||||||
236,499 | Coal India Ltd. (Coal & Consumable Fuels) | $ | 1,109 | |||||
336,887 | Dabur India Ltd. (Personal Products) | 928 | ||||||
18,580 | Grasim Industries Ltd. (Construction Materials) | 815 | ||||||
261,759 | HCL Technologies Ltd. (IT Consulting & Other Services) | 5,343 | ||||||
92,645 | HDFC Bank Ltd. (Diversified Banks) | 997 | ||||||
19,255 | Hero MotoCorp Ltd. (Motorcycle Manufacturers) | 646 | ||||||
235,253 | Hindalco Industries Ltd. (Metals & Mining) | 466 | ||||||
1,101,060 | Hindustan Petroleum Corp. Ltd. (Oil & Gas Refining & Marketing) | 4,224 | ||||||
275,437 | ICICI Bank Ltd. (Diversified Banks) | 4,893 | ||||||
55,330 | ICICI Bank Ltd. – Sponsored ADR (Diversified Banks) | 2,057 | ||||||
224,039 | IDFC Ltd. (Specialized Finance) | 397 | ||||||
5,434,347 | India Cements Ltd. (Construction Materials) (b) | 5,285 | ||||||
1,553,605 | ITC Ltd. (Tobacco) | 8,085 | ||||||
317,129 | Jubilant Life Sciences Ltd. (Diversified Chemicals) | 696 | ||||||
50,185 | Lupin Ltd. (Pharmaceuticals) | 737 | ||||||
78,720 | Maruti Suzuki India Ltd. (Automobile Manufacturers) | 2,245 | ||||||
2,548,155 | NMDC Ltd. (Diversified Metals & Mining) | 5,846 | ||||||
244,061 | NTPC Ltd. (Specialty Chemicals) | 541 | ||||||
535,403 | Oil & Natural Gas Corp. Ltd. (Oil & Gas Exploration & Production) | 2,501 | ||||||
627,902 | Oriental Bank of Commerce (Diversified Banks) | 2,323 | ||||||
230,884 | Power Finance Corp. (Specialized Finance) | 623 | ||||||
3,872,153 | Power Grid Corp. of India Ltd. (Electric Utilities) | 6,254 | ||||||
235,300 | Punjab National Bank (Diversified Capital Markets) | 2,383 | ||||||
1,090,295 | Reliance Industries Ltd. (Oil & Gas Refining & Marketing) | 15,782 | ||||||
70,100 | Reliance Industries Ltd. – Sponsored GDR (Oil & Gas Refining & Marketing) (c) | 2,029 | ||||||
1,788,289 | Rolta India Ltd. (IT Consulting & Other Services) (b) | 1,943 | ||||||
305,351 | Rural Electrification Corp. Ltd. (Specialized Finance) | 1,089 | ||||||
1,010,569 | Sesa Sterlite Ltd. (Metals & Mining) | 3,300 | ||||||
48,108 | Sesa Sterlite Ltd. – Sponsored ADR (Diversified Metals & Mining) | 633 | ||||||
339,305 | State Bank of India (Diversified Banks) | 9,691 | ||||||
3,287,030 | Steel Authority of India Ltd. (Steel) | 3,850 | ||||||
177,616 | Sun Pharmaceutical Industries Ltd. (Pharmaceuticals) | 1,629 | ||||||
80,681 | Tata Consultancy Services Ltd. (IT Consulting & Other Services) | 2,833 |
See accompanying notes to financial statements.
105
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
India (continued) | ||||||||
255,664 | Tata Motors Ltd. (Construction & Farm Machinery & Heavy Trucks) | $ | 1,556 | |||||
69,288 | Tata Motors Ltd. – Sponsored ADR (Construction & Farm Machinery & Heavy Trucks) | 2,134 | ||||||
192,544 | Tata Steel Ltd. (Steel) | 1,321 | ||||||
32,000 | Tata Steel Ltd. – Sponsored GDR, Registered Shares (Steel) | 221 | ||||||
74,721 | Wipro Ltd. (IT Consulting & Other Services) | 676 | ||||||
166,243 | Wipro Ltd. – Sponsored ADR (IT Services) | 2,093 | ||||||
119,216 | ||||||||
Indonesia — 0.91% | ||||||||
3,494,000 | PT Aneka Tambang Tbk (Diversified Metals & Mining) | 313 | ||||||
181,025 | PT Astra Agro Lestari Tbk (Agricultural Products) | 374 | ||||||
8,961,500 | PT Astra International Tbk (Automobile Manufacturers) | 5,012 | ||||||
6,278,500 | PT Bank Negara Indonesia Persero Tbk (Diversified Banks) | 2,040 | ||||||
183,038 | PT Indo Tambangraya Megah Tbk (Coal & Consumable Fuels) | 429 | ||||||
2,042,000 | PT Indofood Sukses Makmur Tbk (Packaged Foods & Meats) | 1,108 | ||||||
10,906,850 | PT Telekomunikasi Indonesia Persero Tbk (Integrated Telecommunication Services) | 1,928 | ||||||
781,000 | PT United Tractors Tbk (Construction & Farm Machinery & Heavy Trucks) | 1,220 | ||||||
12,424 | ||||||||
Malaysia — 1.89% | ||||||||
233,400 | Alliance Financial Group Berhad (Diversified Banks) | 339 | ||||||
582,800 | Axiata Group Berhad (Wireless Telecommunication Services) | 1,228 | ||||||
293,904 | Berjaya Sports Toto Berhard (Casinos & Gaming) | 364 | ||||||
1,740,155 | CIMB Group Holdings Berhad (Diversified Banks) | 4,051 | ||||||
628,100 | Genting Berhad (Casinos & Gaming) | 1,968 | ||||||
591,500 | IJM Corp. Berhad (Construction & Engineering) | 1,062 | ||||||
219,400 | Kuala Lumpur Kepong Berhad (Agricultural Products) | 1,669 | ||||||
90,900 | Lafarge Malayan Cement Berhad (Construction Materials) | 238 | ||||||
1,331,614 | Malayan Banking Berhad (Diversified Banks) | 4,043 | ||||||
513,400 | Maxis Berhad (Wireless Telecommunication Services) | 1,140 | ||||||
495,200 | MISC Berhad (Marine) (a) | 862 | ||||||
282,300 | Parkson Holdings Berhad (Department Stores) | 237 |
Shares | Security Description | Value (000) | ||||||
Malaysia (continued) | ||||||||
1,358,500 | Sime Darby Berhad (Diversified Financial Services) | $ | 3,950 | |||||
251,000 | Telekom Malaysia Berhad (Integrated Telecommunication Services) | 425 | ||||||
1,229,000 | Tenega Nasional Berhad (Electric Utilities) | 4,272 | ||||||
25,848 | ||||||||
Mexico — 2.92% | ||||||||
592,800 | Alpek SA de CV (Diversified Chemicals) | 1,349 | ||||||
6,837,100 | America Movil SA de CV-Serl (Wireless Telecommunication Services) | 7,977 | ||||||
252,110 | America Movil SAB de CV – Sponsored ADR, Series L (Wireless Telecommunication Services) | 5,892 | ||||||
197,072 | Arca Continental SAB de CV (Soft Drinks) | 1,233 | ||||||
271,600 | Cemex SAB de CV – Sponsored ADR (Construction Materials) (a) | 3,213 | ||||||
787,100 | Compartamos SAB de CV (Consumer Finance) | 1,473 | ||||||
2,632,900 | Consorcio ARA SAB de CV (Homebuilding) (a) | 1,031 | ||||||
191,237 | Grupo Aeroportuario del Pacifico SAB de CV, B Shares (Airport Services) | 1,023 | ||||||
116,815 | Grupo Aeroportuario del Sureste SAB de CV, Class – B (Airport Services) | 1,462 | ||||||
154,600 | Grupo Financiero Santander Mexico SAB de CV – Sponsored ADR, Class – B (Diversified Banks) | 2,109 | ||||||
1,404,445 | Grupo Mexico SAB de CV, Series B (Diversified Metals & Mining) | 4,654 | ||||||
39,740 | Industrias Penoles SA de CV (Precious Metals & Minerals) | 987 | ||||||
1,788,900 | Kimberly-Clark de Mexico SAB de CV, Class – A (Household Products) | 5,084 | ||||||
945,800 | Ohl Mexico Sab de CV (Highways & Railtracks) (a) | 2,423 | ||||||
39,910 | ||||||||
Morocco — 0.02% | ||||||||
18,315 | Maroc Telecom SA (Integrated Telecommunication Services) | 215 | ||||||
Peru — 0.31% | ||||||||
15,400 | Compania de Minas Buenaventura SA – Sponsored ADR (Gold) | 173 | ||||||
30,100 | Credicorp Ltd. (Diversified Banks) | 3,995 | ||||||
4,168 | ||||||||
Philippines — 0.77% | ||||||||
898,397 | Aboitiz Equity Ventures, Inc. (Industrial Conglomerates) | 1,104 | ||||||
1,111,600 | Aboitiz Power Corp. (Independent Power Producers & Energy Traders) | 852 | ||||||
3,677,800 | Alliance Global Group, Inc. (Food Distributors) | 2,139 | ||||||
448,829 | Bank of the Philippine Islands (Diversified Banks) | 860 | ||||||
1,360,400 | DMCI Holdings, Inc. (Industrial Conglomerates) | 1,716 |
See accompanying notes to financial statements.
106
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Philippines (continued) | ||||||||
120,480 | First Philippine Holdings Corp. (Electric Utilities) | $ | 146 | |||||
7,480 | Globe Telecom, Inc. (Wireless Telecommunication Services) | 276 | ||||||
977,404 | Metropolitan Bank & Trust Co. (Diversified Banks) | 1,664 | ||||||
2,850 | Philippine Long Distance Telephone Co. (Wireless Telecommunication Services) | 171 | ||||||
12,090 | Philippine Long Distance Telephone Co. – Sponsored ADR (Wireless Telecommunication Services) | 727 | ||||||
50,768 | SM Investments Corp. (Industrial Conglomerates) | 814 | ||||||
10,469 | ||||||||
Poland — 1.52% | ||||||||
81,030 | Asseco Poland SA (Systems Software) | 1,234 | ||||||
384,190 | Energa SA (Electric Utilities) (a) | 2,027 | ||||||
13,536 | Jastrzebska Spolka Weglowa SA (Diversified Metals & Mining) | 238 | ||||||
50,356 | KGHM Polska Miedz SA (Diversified Metals & Mining) | 1,969 | ||||||
534,576 | PGE SA (Electric Utilities) | 2,883 | ||||||
562,560 | Powszechna Kasa Oszczednosci Bank Polski SA (Commercial Banks) | 7,346 | ||||||
23,998 | Powszechny Zaklad Ubezpieczen SA (Multi-line Insurance) | 3,569 | ||||||
1,011,251 | Tauron Polska Energia SA (Electric Utilities) | 1,464 | ||||||
20,730 | ||||||||
Russia — 6.27% | ||||||||
1,441,106 | Gazprom OAO – Sponsored ADR (Integrated Oil & Gas) | 12,321 | ||||||
1,598,900 | Gazprom OAO – Sponsored GDR (Integrated Oil & Gas) | 13,831 | ||||||
125,661 | LUKOIL (Integrated Oil & Gas) | 7,770 | ||||||
106,675 | LUKOIL, ADR (Integrated Oil & Gas) | 6,662 | ||||||
822 | Magnit OJSC (Food Retail) | 230 | ||||||
102,218 | Magnit OJSC – Sponsored GDR, Registered Shares (Food Retail) | 6,766 | ||||||
54,908 | MegaFon OAO – Sponsored GDR (Wireless Telecommunication Services) | 1,839 | ||||||
117,972 | Mining & Metallurgical Co. Norilsk Nickel OJSC – Sponsored ADR (Diversified Metals & Mining) | 1,961 | ||||||
281,458 | Mobile TeleSystems OJSC – Sponsored ADR (Wireless Telecommunication Services) | 6,088 | ||||||
1,315,880 | Rosneft Oil Co. OJSC – Sponsored GDR, Registered Shares (Integrated Oil & Gas) (c) | 10,020 | ||||||
1,347,234 | Sberbank (Diversified Banks) | 4,126 | ||||||
391,300 | Sberbank of Russia – Sponsored ADR (Diversified Banks) | 4,923 |
Shares | Security Description | Value (000) | ||||||
Russia (continued) | ||||||||
52,080 | Severstal – Sponsored GDR, Registered Shares (Steel) | $ | 515 | |||||
2,638,097 | Surgutneftegaz OAO (Integrated Oil & Gas) | 2,264 | ||||||
407,906 | Surgutneftegaz OAO – Sponsored ADR Preferred (Integrated Oil & Gas) | 3,165 | ||||||
1,608,570 | The Moscow Exchange (Diversified Financial Services) | 3,157 | ||||||
85,638 | ||||||||
South Africa — 4.59% | ||||||||
184,030 | AngloGold Ashanti Ltd. (Gold) | 2,165 | ||||||
521,757 | Barclays Africa Group Ltd. (Diversified Banks) | 6,604 | ||||||
49,702 | Exxaro Resources Ltd. (Diversified Metals & Mining) | 697 | ||||||
712,054 | FirstRand Ltd. (Diversified Financial Services) | 2,445 | ||||||
125,890 | Gold Fields Ltd. (Gold) | 396 | ||||||
289,782 | Growthpoint Properties Ltd. (Diversified Real Estate Investment Trusts) | 673 | ||||||
65,386 | Imperial Holdings Ltd. (Distributors) | 1,268 | ||||||
194,735 | Investec Ltd. (Diversified Capital Markets) | 1,388 | ||||||
842,363 | JD Group Ltd. (Home Improvement Retail) | 2,338 | ||||||
13,889 | Kumba Iron Ore Ltd. (Steel) | 589 | ||||||
19,574 | Liberty Holdings Ltd. (Life & Health Insurance) | 228 | ||||||
189,019 | MMI Holdings Ltd. (Life & Health Insurance) | 458 | ||||||
95,619 | Mondi Ltd. (Paper Products) | 1,644 | ||||||
516,174 | MTN Group Ltd. (Wireless Telecommunication Services) | 10,720 | ||||||
632,586 | Murray & Roberts Holdings Ltd. (Construction & Engineering) (a) | 1,623 | ||||||
101,687 | Nampak Ltd. (Metal & Glass Containers) | 399 | ||||||
33,309 | Naspers Limited (Media) | 3,493 | ||||||
34,993 | Nedbank Group Ltd. (Diversified Banks) | 703 | ||||||
88,108 | PPC Ltd. (Construction Materials) | 265 | ||||||
476,166 | Redefine Properties Ltd. (Real Estate Operating Companies) | 444 | ||||||
62,104 | Reunert Ltd. (Industrial Conglomerates) | 407 | ||||||
121,459 | RMB Holdings Ltd. (Diversified Financial Services) | 562 | ||||||
114,454 | RMI Holdings Ltd. (Life & Health Insurance) | 301 | ||||||
102,280 | Samsung Heavy Industries Co. Ltd. (Machinery) (a) | 3,688 | ||||||
308,694 | Sanlam Ltd. (Life & Health Insurance) | 1,572 | ||||||
155,365 | Sasol Ltd. (Integrated Oil & Gas) | 7,650 | ||||||
526,815 | Standard Bank Group Ltd. (Diversified Banks) | 6,525 | ||||||
66,180 | Telkom South Africa Ltd. (Integrated Telecommunication Services) (a) | 177 | ||||||
70,548 | The Foschini Group Ltd. (Apparel Retail) | 646 |
See accompanying notes to financial statements.
107
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
South Africa (continued) | ||||||||
59,603 | The Spar Group Ltd. (Food Distributors) | $ | 750 | |||||
152,071 | Truworths International Ltd. (Apparel Retail) | 1,118 | ||||||
64,180 | Vodacom Group Ltd. (Wireless Telecommunication Services) | 817 | ||||||
62,753 | ||||||||
South Korea — 18.25% | ||||||||
33,550 | BS Financial Group, Inc. (Regional Banks) (a) | 509 | ||||||
32,385 | Daelim Industrial Co. Ltd. (Construction & Engineering) (a) | 2,888 | ||||||
33,230 | Daewoo Securities Co. Ltd. (Investment Banking & Brokerage) | 280 | ||||||
27,330 | DGB Financial Group, Inc. (Regional Banks) (a) | 427 | ||||||
34,370 | Dongbu Insurance Co. Ltd. (Property & Casualty Insurance) | 1,831 | ||||||
3,337 | Doosan Corp. (Industrial Conglomerates) | 441 | ||||||
19,511 | Doosan Heavy Industries & Construction Co. Ltd. (Construction & Engineering) (a) | 655 | ||||||
20,945 | GS Holdings Corp. (Oil & Gas Refining & Marketing) (a) | 1,137 | ||||||
105,440 | Hana Financial Group, Inc. (Diversified Banks) | 4,387 | ||||||
19,250 | Hanwha Chemical Corp. (Commodity Chemicals) (a) | 393 | ||||||
53,260 | Hanwha Corp. (Commodity Chemicals) (a) | 1,979 | ||||||
5,235 | Hyosung Corp. (Commodity Chemicals) (a) | 349 | ||||||
184,960 | Hyundai Development Co. (Construction & Engineering) (a) | 4,066 | ||||||
17,836 | Hyundai Heavy Industries Co. Ltd. (Construction & Farm Machinery & Heavy Trucks) (a) | 4,344 | ||||||
26,470 | Hyundai Hysco (Steel)* (a) | 1,041 | ||||||
90,690 | Hyundai Marine & Fire Insurance Co. Ltd. (Property & Casualty Insurance) | 2,793 | ||||||
23,312 | Hyundai Mobis Co. Ltd. (Auto Parts & Equipment) (a) | 6,484 | ||||||
90,259 | Hyundai Motor Co. Ltd. (Automobile Manufacturers) (a) | 20,231 | ||||||
24,970 | Hyundai Securities Co. Ltd. (Investment Banking & Brokerage) | 138 | ||||||
8,945 | Hyundai Wia Corp. (Auto Parts & Equipment) (a) | 1,611 | ||||||
246,540 | Industrial Bank of Korea (Diversified Banks) (a) | 2,839 | ||||||
54,740 | Jahwa Electronics Co. Ltd. (Electronic Equipment, Instruments & Components) (a) | 1,079 | ||||||
210,671 | Jinro Ltd. (Distillers & Vintners) (a) | 4,402 | ||||||
39,480 | Kangwon Land, Inc. (Casinos & Gaming) (a) | 1,158 |
Shares | Security Description | Value (000) | ||||||
South Korea (continued) | ||||||||
312,874 | KB Financial Group, Inc. (Diversified Banks) (a) | $ | 12,527 | |||||
145,810 | KB Financial Group, Inc. – Sponsored ADR (Diversified Banks) (a) | 5,907 | ||||||
5,084 | KCC Corp. (Building Products) | 2,257 | ||||||
112,691 | Kia Motors Corp. (Automobile Manufacturers) (a) | 5,991 | ||||||
109,510 | Korea Electric Power Corp. (Electric Utilities) (a) | 3,606 | ||||||
675,160 | Korea Electric Power Corp. – Sponsored ADR (Electric Utilities) (a) | 11,215 | ||||||
39,720 | Korea Life Insurance Co. Ltd. (Life & Health Insurance) | 286 | ||||||
77,490 | KT Corp. (Integrated Telecommunication Services) (a) | 2,317 | ||||||
129,080 | KT Corp. – Sponsored ADR (Integrated Telecommunication Services) (a) | 1,919 | ||||||
83,447 | KT&G Corp. (Tobacco) (a) | 5,892 | ||||||
11,671 | LG Chem Ltd. (Commodity Chemicals) (a) | 3,312 | ||||||
41,010 | LG Corp. (Industrial Conglomerates) (a) | 2,487 | ||||||
93,328 | LG Electronics, Inc. (Consumer Electronics) (a) | 6,023 | ||||||
7,225 | LS Corp. (Electrical Components & Equipment) (a) | 554 | ||||||
6,101 | LS Industrial Systems Co. Ltd. (Electrical Components & Equipment) (a) | 380 | ||||||
104,580 | Mirae Asset Securities Co. Ltd. (Asset Management & Custody Banks) | 3,806 | ||||||
12,204 | Nong Shim Co. Ltd. (Packaged Foods & Meats) (a) | 2,903 | ||||||
46,368 | PARTRON Co. Ltd. (Electronic Equipment, Instruments & Components) | 626 | ||||||
39,922 | POSCO (Steel) | 12,353 | ||||||
36,718 | POSCO – Sponsored ADR (Steel) | 2,864 | ||||||
6,971 | S1 Corp. (Security & Alarm Services) (a) | 494 | ||||||
7,040 | Samsung Card Co. Ltd. (Consumer Finance) (a) | 250 | ||||||
33,776 | Samsung Electronics Co. Ltd. (Semiconductors) | 43,917 | ||||||
25,014 | Samsung Fire & Marine Insurance Co. Ltd. (Property & Casualty Insurance) | 6,139 | ||||||
12,301 | Samsung Life Insurance Co. Ltd. (Life & Health Insurance) | 1,212 | ||||||
14,884 | Samsung SDI Co. Ltd. (Electronic Equipment, Instruments & Components) (a) | 2,285 | ||||||
12,496 | Samsung Securities Co. Ltd. (Investment Banking & Brokerage) | 522 | ||||||
207,920 | Shinhan Financial Group Co. Ltd. (Diversified Banks) (a) | 9,320 | ||||||
30,227 | Shinsegae Co. Ltd. (Hypermarkets & Super Centers) (a) | 7,233 | ||||||
9,215 | SK C&C Co. Ltd. (IT Consulting & Other Services) (a) | 1,179 | ||||||
25,120 | SK Holdings Co. Ltd. (Industrial Conglomerates) (a) | 4,547 |
See accompanying notes to financial statements.
108
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
South Korea (continued) | ||||||||
33,515 | SK Innovation Co. Ltd. (Oil & Gas Refining & Marketing) (a) | $ | 4,494 | |||||
50,450 | SK Networks Co. Ltd. (Trading Companies & Distributors) (a) | 361 | ||||||
18,401 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 4,011 | ||||||
74,870 | SK Telecom Co. Ltd. – Sponsored ADR (Wireless Telecommunication Services) | 1,843 | ||||||
18,477 | S-Oil Corp. (Oil & Gas Refining & Marketing) | 1,296 | ||||||
193,730 | Tong Yang Life Insurance Co. Ltd. (Life & Health Insurance) | 2,084 | ||||||
421,680 | Woori Finance Holdings Co. Ltd. (Diversified Banks) (a) | 5,315 | ||||||
24,270 | Woori Investment & Securities Co. Ltd. (Diversified Banks) | 221 | ||||||
249,410 | ||||||||
Taiwan — 10.14% | ||||||||
977,000 | Acer, Inc. (Computer Hardware) (a) | 600 | ||||||
3,737,000 | Advanced Semiconductor Engineering, Inc. (Semiconductors) | 3,474 | ||||||
1,704,972 | Asia Cement Corp. (Construction Materials) | 2,208 | ||||||
282,000 | Asustek Computer, Inc. (Computer Storage & Peripherals) | 2,537 | ||||||
153,000 | Cheng Uei Precision Industry Co. Ltd. (Electronic Equipment, Instruments & Components) | 307 | ||||||
191,470 | Chicony Electronics Co. Ltd. (Computer Storage & Peripherals) | 481 | ||||||
325,000 | China Petrochemical Development Corp. (Commodity Chemicals) | 148 | ||||||
2,408,384 | China Steel Corp. (Steel) | 2,182 | ||||||
7,964,376 | Chinatrust Financial Holding Co. Ltd. (Diversified Banks) | 5,439 | ||||||
785,000 | CHIPBOND Technology Corp. (Semiconductors) | 1,234 | ||||||
258,000 | Chong Hong Construction Co. Ltd. (Diversified Real Estate Activities) | 792 | ||||||
753,000 | Chunghwa Telecom Co. Ltd. (Integrated Telecommunication Services) | 2,352 | ||||||
3,800 | Chunghwa Telecom Co. Ltd. – Sponsored ADR (Integrated Telecommunication Services) | 118 | ||||||
5,845,000 | Compal Electronics, Inc. (Computer Hardware) | 4,482 | ||||||
229,000 | CTCI Corp. (Construction & Engineering) | 371 | ||||||
384,190 | Far Eastern Department Stores Ltd. (Department Stores) | 380 | ||||||
1,946,440 | Far Eastern New Century Corp. (Industrial Conglomerates) | 2,247 | ||||||
318,000 | Far EasTone Telecommunications Co. Ltd. (Wireless Telecommunication Services) | 699 |
Shares | Security Description | Value (000) | ||||||
Taiwan (continued) | ||||||||
300,579 | Farglory Land Development Co. Ltd. (Real Estate Development) | $ | 509 | |||||
76,000 | Feng Hsin Iron & Steel Co. Ltd. (Steel) | 140 | ||||||
11,969,585 | First Financial Holdings Co. Ltd. (Diversified Banks) | 7,451 | ||||||
1,153,420 | Formosa Chemicals & Fibre Corp. (Specialty Chemicals) | 3,251 | ||||||
861,200 | Formosa Plastics Corp. (Chemicals) | 2,327 | ||||||
272,000 | Formosa Taffeta Co. Ltd. (Textiles) | 329 | ||||||
330,750 | Foxconn Technology Co. Ltd. (Computer Hardware) | 772 | ||||||
1,944,996 | Fubon Financial Holding Co. Ltd. (Diversified Financial Services) | 2,846 | ||||||
314,200 | Highwealth Construction Corp. (Real Estate Development) | 664 | ||||||
7,727,961 | Hon Hai Precision Industry Co. Ltd. (Electronic Manufacturing Services) | 20,772 | ||||||
1,941,015 | Inventec Corp. (Computer Hardware) | 1,716 | ||||||
107,240 | LCY Chemical Corp. (Commodity Chemicals) | 139 | ||||||
1,524,549 | Lite-On Technology Corp. (Computer Storage & Peripherals) | 2,445 | ||||||
185,000 | MediaTek, Inc. (Semiconductors) | 2,753 | ||||||
3,186,477 | Mega Financial Holding Co. Ltd. (Commercial Banks) | 2,684 | ||||||
980,240 | Nan Ya Plastics Corp. (Chemicals) | 2,266 | ||||||
1,993,740 | Nan Ya Printed Circuit Board Corp. (Electronic Equipment, Instruments & Components) (a) | 2,496 | ||||||
2,202,620 | Pou Chen Corp. (Footwear) | 3,293 | ||||||
2,696,900 | Powertech Technology, Inc. (Semiconductors) | 4,122 | ||||||
2,095,000 | Quanta Computer, Inc. (Computer Hardware) | 4,886 | ||||||
525,040 | Radiant Opto-Electronics Corp. (Semiconductors) | 1,920 | ||||||
1,068,000 | Ruentex Development Co. Ltd. (Real Estate Development) | 2,072 | ||||||
5,769,000 | Shin Kong Financial Holding Co. Ltd. (Insurance) | 1,994 | ||||||
867,000 | Siliconware Precision Industries Co. (Semiconductors) | 1,036 | ||||||
535,290 | Siliconware Precision Industries Co. – Sponsored ADR (Semiconductors) | 3,201 | ||||||
821,000 | Simplo Technology Co. Ltd. (Technology Distributors) | 3,637 | ||||||
495,000 | Synnex Technology International Corp. (Commodity Chemicals) | 786 | ||||||
2,776,000 | Taiwan Cement Corp. (Construction Materials) | 4,309 | ||||||
328,000 | Taiwan Mobile Co. Ltd. (Wireless Telecommunication Services) | 1,060 | ||||||
3,035,000 | Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors) | 10,744 |
See accompanying notes to financial statements.
109
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Taiwan (continued) | ||||||||
63,530 | Taiwan Semiconductor Manufacturing Co. Ltd. – Sponsored ADR (Semiconductors) | $ | 1,108 | |||||
612,000 | Transcend Information, Inc. (Semiconductors) | 1,760 | ||||||
167,000 | Tripod Technology Corp. (Electronic Equipment, Instruments & Components) | 299 | ||||||
109,000 | TSRC Corp. (Commodity Chemicals) | 161 | ||||||
147,000 | Tung Ho Steel Enterprise Corp. (Steel) | 129 | ||||||
153,000 | U-Ming Marine Transport Corp. (Marine) | 275 | ||||||
493,000 | Unimicron Technology Corp. (Electronic Equipment, Instruments & Components) | 374 | ||||||
4,821,000 | United Microelectronics Corp. (Semiconductors) | 1,998 | ||||||
2,120,691 | United Microelectronics Corp. – Sponsored ADR (Semiconductors) | 4,326 | ||||||
878,640 | Wistron Corp. (Computer Hardware) | 739 | ||||||
563,000 | WPG Holdings Ltd. (Technology Distributors) | 648 | ||||||
138,488 | ||||||||
Thailand — 2.11% | ||||||||
479,485 | Advanced Info Service Public Co. Ltd. (Wireless Telecommunication Services) | 2,912 | ||||||
62,000 | Bangkok Bank Public Co. Ltd. (Diversified Banks) | 336 | ||||||
1,298,500 | Bangkok Bank Public Co. Ltd. – Foreign Registered Shares (Diversified Banks) | 7,037 | ||||||
360,700 | Bangkok Bank Public Co. Ltd. – NVDR (Diversified Banks) | 1,954 | ||||||
415,000 | Banpu Public Co. Ltd. – Foreign Registered Shares (Coal & Consumable Fuels) | 382 | ||||||
1,039,000 | Charoen Pokphand Foods Public Co. Ltd. (Packaged Foods & Meats) | 1,012 | ||||||
944,000 | Kasikornbank Public Co. Ltd. (Diversified Banks) | 4,555 | ||||||
1,699,200 | Krung Thai Bank Public Co. Ltd. – NVDR (Diversified Banks) | 853 | �� | |||||
561,575 | PTT Exploration & Production Public Co. Ltd. (Oil & Gas Exploration & Production) | 2,846 | ||||||
445,700 | PTT Global Chemical PCL – NVDR (Chemicals) | 1,072 | ||||||
809,342 | PTT Global Chemical Public Co. Ltd. (Diversified Chemicals) | 1,946 | ||||||
341,800 | PTT Public Co. Ltd. (Integrated Oil & Gas) | 2,976 | ||||||
92,600 | Thai Airways International Public Co. Ltd. (Airlines) | 39 |
Shares | Security Description | Value (000) | ||||||
Thailand (continued) | ||||||||
537,100 | Thai Oil Public Co. Ltd. (Oil & Gas Refining & Marketing) | $ | 920 | |||||
28,840 | ||||||||
Turkey — 1.40% | ||||||||
109,565 | Arcelik AS (Household Appliances) | 620 | ||||||
972,040 | Asya Katilim Bankasi AS (Diversified Banks) (a) | 657 | ||||||
5,182,217 | Emlak Konut Gayrimenkul Yatirim (Residential REITs) | 5,071 | ||||||
570,575 | Eregli Demir ve Celik Fabrikalari TAS (Steel) | 686 | ||||||
32,186 | Ford Otomotiv Sanayi AS (Automobile Manufacturers) | 340 | ||||||
131,859 | TAV Havalimanlari Holding AS (Airport Services) | 949 | ||||||
57,442 | Tofas Turk Otomobil Fabrikasi AS (Automobile Manufacturers) | 359 | ||||||
798,561 | Turk Hava Yollari Anonim Ortakligi (Airlines) | 2,396 | ||||||
103,284 | Turk Telekomunikasyon AS (Integrated Telecommunication Services) | 287 | ||||||
1,240,360 | Turkiye Garanti Bankasi AS (Diversified Banks) | 4,024 | ||||||
441,475 | Turkiye Halk Bankasi AS (Diversified Banks) | 2,500 | ||||||
418,799 | Turkiye Is Bankasi AS, Class – C (Diversified Banks) | 907 | ||||||
173,023 | Turkiye Vakiflar Bankasi TAO, Class – D (Diversified Banks) | 308 | ||||||
19,104 | ||||||||
Ukraine — 0.02% | ||||||||
271,395 | JKX Oil & Gas PLC (Oil & Gas Exploration & Production) (a) | 321 | ||||||
United Arab Emirates — 0.13% | ||||||||
853,331 | Emaar Properties PJSC (Real Estate Operating Companies) | 1,775 | ||||||
United Kingdom — 0.07% | ||||||||
321,307 | Old Mutual PLC (Life & Health Insurance) | 1,006 | ||||||
United States — 0.12% | ||||||||
54,995 | Southern Copper Corp. (Diversified Metals & Mining) | 1,579 | ||||||
Total Common Stocks | 1,270,127 | |||||||
Preferred Stocks — 3.04% | ||||||||
Brazil — 2.02% | ||||||||
112,917 | Bradespar SA – Preferred (Steel) | 1,201 | ||||||
310,633 | Companhia Energetica de Minas Gerais SA – Preferred, ADR (Electric Utilities) | 1,845 |
See accompanying notes to financial statements.
110
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Preferred Stocks (continued) | ||||||||
Brazil (continued) | ||||||||
402,200 | Gerdau SA – Preferred (Steel) | $ | 3,127 | |||||
986,600 | Petroleo Brasileiro SA – Preferred (Integrated Oil & Gas) | 7,144 | ||||||
146,100 | Petroleo Brasileiro SA – Sponsored ADR (Integrated Oil & Gas) | 2,146 | ||||||
145,509 | Telefonica Brasil SA – Preferred (Integrated Telecommunication Services) | 2,765 | ||||||
669,781 | Vale SA – Preferred (Steel) | 9,293 | ||||||
27,521 | ||||||||
Russia — 0.21% | ||||||||
1,098 | AK Transneft OAO – Preferred (Oil & Gas Storage & Transportation) | 2,880 | ||||||
South Korea — 0.81% | ||||||||
11,529 | Samsung Electronics Co. Ltd. – Preferred (Semiconductors) | 11,068 | ||||||
Total Preferred Stocks | 41,469 | |||||||
Time Deposit — 1.14% | ||||||||
$15,631 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/14 | 15,631 | ||||||
Total Time Deposit | 15,631 | |||||||
Mutual Funds — 2.36% | ||||||||
4,152,600 | iShares Asia Trust – iShares FTSE A50 China Index ETF | 5,002 | ||||||
565,480 | iShares MSCI Emerging Markets Index Fund ETF, 1.25% (e) | 23,621 | ||||||
18,480 | iShares MSCI Taiwan Index Fund ETF | 266 | ||||||
321,000 | SSgA Treasury Money Market Fund, 0.00% (e) | 321 | ||||||
176,920 | WisdomTree India Earnings Fund ETF | 3,085 | ||||||
Total Mutual Funds | 32,295 | |||||||
Total Investments (cost $1,309,487) — 99.52% | 1,359,522 | |||||||
Other assets in excess of liabilities — 0.48% | 6,618 | |||||||
Net Assets — 100.00% | $ | 1,366,140 |
Amounts designated as “—” are $0 or have been rounded to $0.
* | Security was fair valued on December 31, 2013 and represents a Level 2 security. Refer to Note 2 in Notes to Financial Statements. |
(a) | Represents non-income producing security. |
(b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security has been deemed illiquid by the Specialist Manager and represents 0.02% of the Portfolio. |
(c) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(d) | Amounts designated as “—” are $0 or have been rounded to $0. |
(e) | The rate disclosed is the rate in effect on December 31, 2013. |
ADR — American Depositary Receipt
ETF — Exchange Traded Fund
GDR — Global Depositary Receipt
NVDR — Non-Voting Depository Receipt
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
111
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
The following table reflects the percentage of the total net assets of the Portfolio attributable to each Specialist Manager, see Note 3 in the Notes to Financial Statements.
The Emerging Markets Portfolio | Boston Company Asset Management, LLC | Mellon Capital Management Corp. | SSgA Funds Management, Inc. | Total | ||||||||||||
Common Stocks | 41.04 | % | 25.19 | % | 26.75 | % | 92.98 | % | ||||||||
Preferred Stocks | 0.23 | % | 2.02 | % | 0.79 | % | 3.04 | % | ||||||||
Time Deposits | 1.14 | % | — | — | 1.14 | % | ||||||||||
Mutual Funds | 2.34 | % | 0.02 | % | — | 2.36 | % | |||||||||
Other Assets (Liabilities) | 0.23 | % | 0.38 | % | -0.13 | % | 0.48 | % | ||||||||
Total Investments | 44.98 | % | 27.61 | % | 27.41 | % | 100.00 | % |
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2013.
Long/(Short) Futures
Number of Contracts | Futures Contracts Positionsˆ | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
(60) | FTSE/JSE Top 40 Index Future | $ | (2,394 | ) | 3/21/14 | $ | (135 | ) | ||||||||
74 | MSCI Taiwan Index Future | 2,244 | 1/30/14 | 47 | ||||||||||||
(94) | SGX CNX Nifty Index Future | (1,194 | ) | 1/31/14 | 3 | |||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | (85 | ) |
Currency Contracts
Contract Amount (Local Currency) | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/13 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Purchased | ||||||||||||||||||||||||
2,924,100,000 | Chilean Peso | Barclays Bank | 3/20/14 | $ | 5,431 | $ | 5,518 | $ | 87 | |||||||||||||||
15,308,818 | Hong Kong Dollar | Royal Bank of Canada | 3/20/14 | 1,975 | 1,975 | — | ||||||||||||||||||
549,440,250 | Indian Rupee | Deutsche Bank | 3/20/14 | 8,750 | 8,719 | (31 | ) | |||||||||||||||||
23,750,000,000 | Indonesian Rupiah | Deutsche Bank | 3/20/14 | 1,932 | 1,926 | (6 | ) | |||||||||||||||||
7,530,200 | Malaysian Ringgit | Deutsche Bank | 3/20/14 | 2,329 | 2,289 | (40 | ) | |||||||||||||||||
4,412,850 | Peruvian Nuevo | Citibank | 3/20/14 | 1,555 | 1,563 | 8 | ||||||||||||||||||
5,536,913 | Peruvian Nuevo | Citibank | 3/20/14 | 1,975 | 1,960 | (15 | ) | |||||||||||||||||
26,407,725 | Russian Ruble | JPMorgan Chase | 3/20/14 | 790 | 794 | 4 | ||||||||||||||||||
98,238,095 | South African Rand | Citibank | 3/20/14 | 9,349 | 9,295 | (54 | ) | |||||||||||||||||
167,297,750 | Thai Baht | Deutsche Bank | 3/20/14 | 5,150 | 5,075 | (75 | ) | |||||||||||||||||
11,748,580 | Turkish Lira | Societe Generale | 3/20/14 | 5,666 | 5,386 | (280 | ) | |||||||||||||||||
Total Currencies Purchased | $ | 44,902 | $ | 44,500 | $ | (402 | ) | |||||||||||||||||
Currencies Sold | ||||||||||||||||||||||||
96,565,650 | Czech Koruna | Royal Bank of Canada | 3/20/14 | $ | 4,848 | $ | 4,870 | $ | (22 | ) | ||||||||||||||
55,861,500 | Hong Kong Dollar | Societe Generale | 3/20/14 | 7,205 | 7,205 | — | ||||||||||||||||||
338,489,000 | Hungarian Forint | Credit Suisse | 3/20/14 | 1,531 | 1,561 | (30 | ) | |||||||||||||||||
164,606,000 | Indian Rupee | Deutsche Bank | 3/20/14 | 2,600 | 2,612 | (12 | ) | |||||||||||||||||
3,002,448,750 | Korean Won | JP Morgan Chase | 3/20/14 | 2,839 | 2,839 | — | ||||||||||||||||||
244,626,000 | Philippine Peso | JP Morgan Chase | 3/20/14 | 5,538 | 5,522 | 16 | ||||||||||||||||||
20,933,000 | Polish Zloty | Royal Bank of Canada | 3/20/14 | 6,845 | 6,900 | (55 | ) | |||||||||||||||||
118,600,500 | Russian Ruble | JP Morgan Chase | 3/20/14 | 3,561 | 3,566 | (5 | ) | |||||||||||||||||
27,965,000 | Taiwanese Dollar | Barclays Bank | 3/20/14 | 952 | 941 | 11 | ||||||||||||||||||
82,480,000 | Thai Baht | Deutsche Bank | 3/20/14 | 2,544 | 2,502 | 42 | ||||||||||||||||||
13,540,800 | Turkish Lira | Goldman Sachs | 3/20/14 | 6,500 | 6,207 | 293 | ||||||||||||||||||
Total Currencies Sold | $ | 44,963 | $ | 44,725 | $ | 238 | ||||||||||||||||||
Net Unrealized/Appreciation(Depreciation) | $ | (164 | ) |
See accompanying notes to financial statements.
112
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Asset Backed Securities — 0.41% | ||||||||||||||||
$60 | Ally Auto Receivables Trust, Series 2012-4, Class A3 | 0.59 | 1/17/17 | $ | 60 | |||||||||||
110 | Capital One Multi-Asset Execution Trust, Series 2006-A3, Class A3 | 5.05 | 12/17/18 | 120 | ||||||||||||
20 | CarMax Auto Owner Trust, Series 2012-2, Class A4 | 1.16 | 12/15/17 | 20 | ||||||||||||
80 | Citibank Credit Card Issuance Trust, Series 2005-A5, Class A5 | 4.55 | 6/20/17 | 85 | ||||||||||||
60 | Honda Auto Receivables Owner Trust, Series 2012-3, Class A4 | 0.74 | 10/15/18 | 60 | ||||||||||||
60 | Nissan Auto Receivables Owner Trust, Series 2012-A, Class A4 | 1.00 | 7/16/18 | 60 | ||||||||||||
Total Asset Backed Securities | 405 | |||||||||||||||
Collateralized Mortgage Obligations — 2.11% | ||||||||||||||||
140 | Banc of America Commercial Mortgage, Inc., Series 2006-2, Class AJ | 5.77 | 5/10/45 | 146 | ||||||||||||
55 | Bear Stearns Commercial Mortgage Securities, Inc., Series 2005-PW10, Class A4 | 5.41 | 12/11/40 | 58 | ||||||||||||
50 | Commercial Mortgage Trust, Series 2013-CR8, Class A5 | 3.61 | 6/10/46 | 49 | ||||||||||||
145 | CS First Boston Mortgage Securities Corp., Series 2005-C6, Class A4 | 5.23 | 10/15/15 | 153 | ||||||||||||
140 | Greenwich Capital Commercial Funding Corp., Series 2005-GG5, Class AM | 5.28 | 4/10/37 | 149 | ||||||||||||
150 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2012-C8, Class A3 | 2.83 | 10/15/45 | 141 | ||||||||||||
175 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2005-LDP1, Class A4 | 5.04 | 3/15/46 | 180 | ||||||||||||
255 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2006-CB17, Class A4 | 5.43 | 12/12/43 | 276 | ||||||||||||
25 | LB-UBS Commercial Mortgage Trust, Series 2006-C7, Class AM | 5.38 | 10/15/16 | 27 | ||||||||||||
107 | Merrill Lynch Mortgage Trust, Series 2007-C1, Class A3 | 5.86 | 11/12/16 | 110 | ||||||||||||
23 | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C9, Class A1 | 0.83 | 5/15/46 | 23 | ||||||||||||
255 | Morgan Stanley Capital I, Series 2007-HQ11, Class A4 | 5.45 | 2/12/44 | 279 | ||||||||||||
190 | Morgan Stanley Capital I, Series 2007-IQ15, Class A4 | 5.91 | 7/11/17 | 212 | ||||||||||||
153 | Morgan Stanley Capital I Trust, Series 2006-HQ9, Class A4 | 5.73 | 7/12/44 | 167 | ||||||||||||
98 | Wachovia Bank Commercial Mortgage Trust, Series 2006-C23, Class A4 | 5.42 | 1/15/45 | 105 | ||||||||||||
Total Collateralized Mortgage Obligations | 2,075 | |||||||||||||||
U.S. Government Agency Mortgages — 37.62% | ||||||||||||||||
173 | Fannie Mae, Pool #MA1277 | 2.50 | 12/1/27 | 172 | ||||||||||||
97 | Fannie Mae, Pool #AU1660 | 2.50 | 7/1/28 | 97 | ||||||||||||
99 | Fannie Mae, Pool #AU0293 | 2.50 | 8/1/28 | 99 | ||||||||||||
156 | Fannie Mae, Pool #A03019 | 2.50 | 5/1/27 | 155 | ||||||||||||
169 | Fannie Mae, Pool #MA1210 | 2.50 | 9/1/49 | 167 | ||||||||||||
168 | Fannie Mae, Pool #AP4742 | 2.50 | 8/1/27 | 167 | ||||||||||||
98 | Fannie Mae, Pool #AU6677 | 2.50 | 9/1/28 | 97 | ||||||||||||
242 | Fannie Mae, Pool #AJ1300 | 2.92 | 10/1/41 | 254 | ||||||||||||
307 | Fannie Mae, Pool #AJ3079 | 3.00 | 11/1/26 | 313 | ||||||||||||
159 | Fannie Mae, Pool #AK0006 | 3.00 | 1/1/27 | 162 | ||||||||||||
50 | Fannie Mae, Pool #AU3353 | 3.00 | 8/1/43 | 48 | ||||||||||||
233 | Fannie Mae, Pool #MA1307 | 3.00 | 1/1/33 | 230 | ||||||||||||
132 | Fannie Mae, Pool #AB4483 | 3.00 | 2/1/27 | 135 | ||||||||||||
198 | Fannie Mae, Pool #AU3735 | 3.00 | 8/1/43 | 188 | ||||||||||||
97 | Fannie Mae, Pool #AB8897 | 3.00 | 4/1/43 | 92 | ||||||||||||
375 | Fannie Mae, Pool #AB7099 | 3.00 | 11/1/42 | 357 | ||||||||||||
275 | Fannie Mae, Pool #AP6493 | 3.00 | 9/1/42 | 262 | ||||||||||||
372 | Fannie Mae, Pool #AQ7920 | 3.00 | 12/1/42 | 354 | ||||||||||||
166 | Fannie Mae, Pool #AO0752 | 3.00 | 4/1/42 | 157 | ||||||||||||
100 | Fannie Mae, Pool #AT7311 | 3.00 | 7/1/43 | 95 | ||||||||||||
97 | Fannie Mae, Pool #AT0682 | 3.00 | 4/1/43 | 92 |
See accompanying notes to financial statements.
113
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$97 | Fannie Mae, Pool #AT2127 | 3.00 | 4/1/43 | $ | 92 | |||||||||||
361 | Fannie Mae, Pool #AP6375 | 3.00 | 9/1/42 | 343 | ||||||||||||
99 | Fannie Mae, Pool #AS0302 | 3.00 | 8/1/43 | 95 | ||||||||||||
169 | Fannie Mae, Pool #AP2465 | 3.00 | 8/1/42 | 161 | ||||||||||||
106 | Fannie Mae, Pool #MA1107 | 3.50 | 7/1/32 | 108 | ||||||||||||
104 | Fannie Mae, Pool #MA1059 | 3.50 | 5/1/32 | 106 | ||||||||||||
406 | Fannie Mae, Pool #AB4689 | 3.50 | 3/1/42 | 404 | ||||||||||||
398 | Fannie Mae, Pool #AB6017 | 3.50 | 8/1/42 | 396 | ||||||||||||
334 | Fannie Mae, Pool #AL1717 | 3.50 | 5/1/27 | 350 | ||||||||||||
181 | Fannie Mae, Pool #AO3760 | 3.50 | 5/1/42 | 180 | ||||||||||||
510 | Fannie Mae, Pool #AO8137 | 3.50 | 8/1/42 | 507 | ||||||||||||
50 | Fannie Mae, Pool #AJ4867 | 3.50 | 1/1/42 | 50 | ||||||||||||
473 | Fannie Mae, Pool #AO2548 | 3.50 | 4/1/42 | 471 | ||||||||||||
179 | Fannie Mae, Pool #AQ0546 | 3.50 | 11/1/42 | 178 | ||||||||||||
186 | Fannie Mae, Pool #AP9390 | 3.50 | 10/1/42 | 185 | ||||||||||||
125 | Fannie Mae, Pool #AC7328 | 4.00 | 12/1/39 | 129 | ||||||||||||
155 | Fannie Mae, Pool #AI1186 | 4.00 | 4/1/41 | 159 | ||||||||||||
558 | Fannie Mae, Pool #AH6242 | 4.00 | 4/1/26 | 591 | ||||||||||||
106 | Fannie Mae, Pool #AH5859 | 4.00 | 2/1/41 | 109 | ||||||||||||
331 | Fannie Mae, Pool #AJ7689 | 4.00 | 12/1/41 | 341 | ||||||||||||
308 | Fannie Mae, Pool #AI8534 | 4.00 | 8/1/41 | 318 | ||||||||||||
184 | Fannie Mae, Pool #MA0534 | 4.00 | 10/1/30 | 193 | ||||||||||||
155 | Fannie Mae, Pool #AJ5303 | 4.00 | 11/1/41 | 160 | ||||||||||||
502 | Fannie Mae, Pool #190405 | 4.00 | 10/1/40 | 517 | ||||||||||||
99 | Fannie Mae, Pool #AI8104 | 4.50 | 6/1/41 | 105 | ||||||||||||
30 | Fannie Mae, Pool #735646 | 4.50 | 7/1/20 | 32 | ||||||||||||
51 | Fannie Mae, Pool #745278 | 4.50 | 6/1/19 | 54 | ||||||||||||
567 | Fannie Mae, Pool #AH7521 | 4.50 | 3/1/41 | 601 | ||||||||||||
99 | Fannie Mae, Pool #AA9781 | 4.50 | 7/1/24 | 105 | ||||||||||||
80 | Fannie Mae, Pool #AB3192 | 4.50 | 6/1/41 | 85 | ||||||||||||
49 | Fannie Mae, Pool #829106 | 4.50 | 10/1/20 | 53 | ||||||||||||
87 | Fannie Mae, Pool #AB0388 | 4.50 | 4/1/19 | 93 | ||||||||||||
161 | Fannie Mae, Pool #AE0954 | 4.50 | 2/1/41 | 170 | ||||||||||||
44 | Fannie Mae, Pool #930998 | 4.50 | 4/1/29 | 46 | ||||||||||||
378 | Fannie Mae, Pool #AE0217 | 4.50 | 8/1/40 | 401 | ||||||||||||
137 | Fannie Mae, Pool #MA0481 | 4.50 | 8/1/30 | 146 | ||||||||||||
336 | Fannie Mae, Pool #AL1107 | 4.50 | 11/1/41 | 356 | ||||||||||||
134 | Fannie Mae, Pool #AJ1263 | 5.00 | 9/1/26 | 144 | ||||||||||||
84 | Fannie Mae, Pool #725238 | 5.00 | 3/1/34 | 92 | ||||||||||||
229 | Fannie Mae, Pool #AH5988 | 5.00 | 3/1/41 | 249 | ||||||||||||
394 | Fannie Mae, Pool #889117 | 5.00 | 10/1/35 | 429 | ||||||||||||
121 | Fannie Mae, Pool #AE0945 | 5.00 | 12/1/20 | 129 | ||||||||||||
586 | Fannie Mae, Pool #890221 | 5.50 | 12/1/33 | 646 | ||||||||||||
128 | Fannie Mae, Pool #603083 | 5.50 | 1/1/17 | 137 | ||||||||||||
325 | Fannie Mae, Pool #AD0527 | 5.50 | 6/1/39 | 356 | ||||||||||||
558 | Fannie Mae, Pool #725228 | 6.00 | 3/1/34 | 626 |
See accompanying notes to financial statements.
114
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$366 | Fannie Mae, Pool #959451 | 6.00 | 12/1/37 | $ | 405 | |||||||||||
94 | Fannie Mae, Pool #AL0583 | 6.50 | 10/1/39 | 105 | ||||||||||||
133 | Fannie Mae, Pool #AE0442 | 6.50 | 1/1/39 | 148 | ||||||||||||
24 | Fannie Mae, Pool #888596 | 6.50 | 7/1/37 | 26 | ||||||||||||
104 | Fannie Mae, Pool #889984 | 6.50 | 10/1/38 | 115 | ||||||||||||
200 | Fannie Mae, 15 YR TBA | 2.50 | 1/25/29 | 198 | ||||||||||||
100 | Fannie Mae, 15 YR TBA | 3.00 | 1/25/29 | 102 | ||||||||||||
75 | Fannie Mae, 15 YR TBA | 3.50 | 1/25/29 | 78 | ||||||||||||
100 | Fannie Mae, 30 YR TBA | 2.50 | 1/25/44 | 90 | ||||||||||||
750 | Fannie Mae, 30 YR TBA | 4.00 | 1/25/44 | 773 | ||||||||||||
75 | Fannie Mae, 30 YR TBA | 4.50 | 1/25/43 | 79 | ||||||||||||
350 | Fannie Mae, 30 YR TBA | 5.00 | 1/25/43 | 380 | ||||||||||||
99 | Freddie Mac, Pool #849138 | 2.46 | 10/1/43 | 100 | ||||||||||||
99 | Freddie Mac, Pool #G18485 | 2.50 | 10/1/28 | 98 | ||||||||||||
281 | Freddie Mac, Pool #G18459 | 2.50 | 3/1/28 | 279 | ||||||||||||
100 | Freddie Mac, Pool #G18470 | 2.50 | 6/1/28 | 99 | ||||||||||||
98 | Freddie Mac, Pool #G18475 | 2.50 | 8/1/28 | 97 | ||||||||||||
337 | Freddie Mac, Pool #1B7911 | 2.72 | 12/1/40 | 352 | ||||||||||||
289 | Freddie Mac, Pool #C09035 | 3.00 | 4/1/43 | 274 | ||||||||||||
50 | Freddie Mac, Pool #Q20542 | 3.00 | 7/1/43 | 47 | ||||||||||||
100 | Freddie Mac, Pool #G08556 | 3.00 | 11/1/43 | 95 | ||||||||||||
96 | Freddie Mac, Pool #K90311 | 3.00 | 4/1/33 | 95 | ||||||||||||
95 | Freddie Mac, Pool #C04446 | 3.00 | 1/1/43 | 90 | ||||||||||||
197 | Freddie Mac, Pool #G08537 | 3.00 | 7/1/43 | 187 | ||||||||||||
99 | Freddie Mac, Pool #G08528 | 3.00 | 4/1/43 | 94 | ||||||||||||
97 | Freddie Mac, Pool #G08525 | 3.00 | 5/1/43 | 92 | ||||||||||||
98 | Freddie Mac, Pool #C91709 | 3.00 | 6/1/33 | 96 | ||||||||||||
385 | Freddie Mac, Pool #G08524 | 3.00 | 3/1/43 | 365 | ||||||||||||
527 | Freddie Mac, Pool #G08495 | 3.50 | 6/1/42 | 524 | ||||||||||||
133 | Freddie Mac, Pool #C91456 | 3.50 | 6/1/32 | 135 | ||||||||||||
50 | Freddie Mac, Pool #G07283 | 3.50 | 7/1/42 | 50 | ||||||||||||
50 | Freddie Mac, Pool #Q17596 | 3.50 | 4/1/43 | 50 | ||||||||||||
48 | Freddie Mac, Pool #B19631 | 4.00 | 7/1/20 | 51 | ||||||||||||
49 | Freddie Mac, Pool #J14924 | 4.00 | 4/1/26 | 52 | ||||||||||||
94 | Freddie Mac, Pool #G14786 | 4.00 | 4/1/19 | 99 | ||||||||||||
673 | Freddie Mac, Pool #A96286 | 4.00 | 1/1/41 | 691 | ||||||||||||
146 | Freddie Mac, Pool #G18303 | 4.50 | 3/1/24 | 157 | ||||||||||||
96 | Freddie Mac, Pool #C91377 | 4.50 | 6/1/31 | 104 | ||||||||||||
1,807 | Freddie Mac, Pool #A97692 | 4.50 | 3/1/41 | 1,916 | ||||||||||||
289 | Freddie Mac, Pool #C01598 | 5.00 | 8/1/33 | 312 | ||||||||||||
100 | Freddie Mac, Pool #G05904 | 5.00 | 9/1/39 | 108 | ||||||||||||
91 | Freddie Mac, Pool #G01962 | 5.00 | 12/1/35 | 98 | ||||||||||||
212 | Freddie Mac, Pool #G04913 | 5.00 | 3/1/38 | 229 | ||||||||||||
94 | Freddie Mac, Pool #G04817 | 5.00 | 9/1/38 | 101 | ||||||||||||
42 | Freddie Mac, Pool #G30432 | 5.50 | 11/1/28 | 45 | ||||||||||||
157 | Freddie Mac, Pool #G04688 | 5.50 | 9/1/38 | 171 |
See accompanying notes to financial statements.
115
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$395 | Freddie Mac, Pool #G01665 | 5.50 | 3/1/34 | $ | 434 | |||||||||||
11 | Freddie Mac, Pool #1G1537 | 5.67 | 2/1/37 | 12 | ||||||||||||
63 | Freddie Mac, Pool #G03616 | 6.00 | 12/1/37 | 69 | ||||||||||||
16 | Freddie Mac, Pool #C90989 | 6.00 | 9/1/26 | 18 | ||||||||||||
200 | Freddie Mac, Pool #G02794 | 6.00 | 5/1/37 | 221 | ||||||||||||
225 | Freddie Mac, Gold 15 YR TBA | 2.50 | 1/15/29 | 223 | ||||||||||||
450 | Freddie Mac, Gold 15 YR TBA | 3.00 | 1/15/29 | 458 | ||||||||||||
250 | Freddie Mac, Gold 15 YR TBA | 3.50 | 1/15/29 | 261 | ||||||||||||
25 | Freddie Mac, Gold 15 YR TBA | 4.50 | 1/15/29 | 27 | ||||||||||||
50 | Freddie Mac, Gold 30 YR TBA | 3.00 | 1/15/44 | 47 | ||||||||||||
700 | Freddie Mac, Gold 30 YR TBA | 3.50 | 1/15/44 | 695 | ||||||||||||
475 | Freddie Mac, Gold 30 YR TBA | 4.00 | 1/15/44 | 488 | ||||||||||||
44 | Government National Mortgage Association, Pool #MA0483 | 2.00 | 10/20/42 | 46 | ||||||||||||
46 | Government National Mortgage Association, Pool #MA0719 | 2.00 | 1/20/43 | 48 | ||||||||||||
43 | Government National Mortgage Association, Pool #MA0712 | 2.50 | 1/20/43 | 45 | ||||||||||||
75 | Government National Mortgage Association, Pool #MA1155 | 2.50 | 7/20/43 | 69 | ||||||||||||
93 | Government National Mortgage Association, Pool #AA8341 | 2.50 | 2/15/28 | 93 | ||||||||||||
96 | Government National Mortgage Association, Pool #MA0851 | 3.00 | 3/20/43 | 93 | ||||||||||||
92 | Government National Mortgage Association, Pool #MA0391 | 3.00 | 9/20/42 | 89 | ||||||||||||
471 | Government National Mortgage Association, Pool #MA0624 | 3.00 | 12/20/42 | 456 | ||||||||||||
83 | Government National Mortgage Association, Pool #MA0205 | 3.00 | 7/20/27 | 85 | ||||||||||||
98 | Government National Mortgage Association, Pool #AA6149 | 3.00 | 3/20/43 | 94 | ||||||||||||
100 | Government National Mortgage Association, Pool #AA2654 | 3.00 | 6/15/43 | 97 | ||||||||||||
50 | Government National Mortgage Association, Pool #MA1374 | 3.00 | 10/20/43 | 48 | ||||||||||||
97 | Government National Mortgage Association, Pool #MA1011 | 3.00 | 5/20/43 | 94 | ||||||||||||
48 | Government National Mortgage Association, Pool #778157 | 3.50 | 3/15/42 | 49 | ||||||||||||
329 | Government National Mortgage Association, Pool #MA0088 | 3.50 | 5/20/42 | 333 | ||||||||||||
95 | Government National Mortgage Association, Pool #MA0934 | 3.50 | 4/20/43 | 96 | ||||||||||||
98 | Government National Mortgage Association, Pool #AC3938 | 3.50 | 1/15/43 | 99 | ||||||||||||
75 | Government National Mortgage Association, Pool #738602 | 3.50 | 8/15/26 | 79 | ||||||||||||
177 | Government National Mortgage Association, Pool #MA0462 | 3.50 | 10/20/42 | 179 | ||||||||||||
343 | Government National Mortgage Association, Pool #MA0220 | 3.50 | 7/20/42 | 346 | ||||||||||||
94 | Government National Mortgage Association, Pool #MA0852 | 3.50 | 3/20/43 | 95 | ||||||||||||
94 | Government National Mortgage Association, Pool #738710 | 4.00 | 9/15/41 | 98 | ||||||||||||
98 | Government National Mortgage Association, Pool #770602 | 4.00 | 9/15/41 | 102 | ||||||||||||
371 | Government National Mortgage Association, Pool #005139 | 4.00 | 8/20/41 | 386 | ||||||||||||
94 | Government National Mortgage Association, Pool #741682 | 4.00 | 7/15/41 | 97 | ||||||||||||
99 | Government National Mortgage Association, Pool #MA1286 | 4.00 | 9/20/43 | 103 | ||||||||||||
191 | Government National Mortgage Association, Pool #MA1091 | 4.00 | 6/20/43 | 199 | ||||||||||||
488 | Government National Mortgage Association, Pool #004801 | 4.50 | 9/20/40 | 525 | ||||||||||||
376 | Government National Mortgage Association, Pool #737310 | 4.50 | 8/15/40 | 405 | ||||||||||||
329 | Government National Mortgage Association, Pool #721760 | 4.50 | 8/15/40 | 355 | ||||||||||||
90 | Government National Mortgage Association, Pool #MA1014 | 4.50 | 5/20/43 | 97 | ||||||||||||
181 | Government National Mortgage Association, Pool #MA1092 | 4.50 | 6/20/43 | 195 | ||||||||||||
104 | Government National Mortgage Association, Pool #782523 | 5.00 | 11/15/35 | 113 | ||||||||||||
475 | Government National Mortgage Association, Pool #004559 | 5.00 | 10/20/39 | 520 |
See accompanying notes to financial statements.
116
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$50 | Government National Mortgage Association, Pool #MA1451 | 5.00 | 11/20/43 | $ | 54 | |||||||||||
329 | Government National Mortgage Association, Pool #697946 | 5.00 | 3/15/39 | 356 | ||||||||||||
32 | Government National Mortgage Association, Pool #658181 | 5.50 | 11/15/36 | 35 | ||||||||||||
66 | Government National Mortgage Association, Pool #704170 | 5.50 | 1/15/39 | 72 | ||||||||||||
77 | Government National Mortgage Association, Pool #MA0538 | 5.50 | 11/20/42 | 85 | ||||||||||||
74 | Government National Mortgage Association, Pool #MA0466 | 5.50 | 10/20/42 | 82 | ||||||||||||
109 | Government National Mortgage Association, Pool #510835 | 5.50 | 2/15/35 | 121 | ||||||||||||
146 | Government National Mortgage Association, Pool #781959 | 6.00 | 7/15/35 | 164 | ||||||||||||
80 | Government National Mortgage Association, Pool #004222 | 6.00 | 8/20/38 | 90 | ||||||||||||
82 | Government National Mortgage Association, Pool #582199 | 6.50 | 1/15/32 | 92 | ||||||||||||
200 | Government National Mortgage Association, 30 YR TBA | 3.00 | 2/15/44 | 193 | ||||||||||||
550 | Government National Mortgage Association, 30 YR TBA | 3.00 | 2/20/44 | 531 | ||||||||||||
750 | Government National Mortgage Association, 30 YR TBA | 3.50 | 1/20/44 | 757 | ||||||||||||
150 | Government National Mortgage Association, 30 YR TBA | 3.50 | 1/15/44 | 151 | ||||||||||||
150 | Government National Mortgage Association, 30 YR TBA | 4.00 | 1/15/44 | 156 | ||||||||||||
300 | Government National Mortgage Association, 30 YR TBA | 4.00 | 1/20/44 | 312 | ||||||||||||
150 | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/20/44 | 160 | ||||||||||||
Total U.S. Government Agency Mortgages | 36,935 | |||||||||||||||
U.S. Government Agency Securities — 2.61% | ||||||||||||||||
75 | Fannie Mae | 0.38 | 3/16/15 | 75 | ||||||||||||
15 | Fannie Mae, Callable 3/28/14 @ 100.00 | 0.50 | 3/28/16 | 15 | ||||||||||||
20 | Fannie Mae, Callable 1/29/14 @ 100.00 | 0.50 | 4/29/16 | 20 | ||||||||||||
55 | Fannie Mae, Callable 2/27/14 @ 100.00 | 0.55 | 2/27/15 | 55 | ||||||||||||
50 | Fannie Mae | 0.88 | 5/21/18 | 48 | ||||||||||||
65 | Fannie Mae | 0.88 | 8/28/17 | 64 | ||||||||||||
60 | Fannie Mae, Callable 2/23/14 @ 100.00 | 0.95 | 8/23/17 | 59 | ||||||||||||
180 | Fannie Mae, Callable 3/27/14 @ 100.00 | 1.07 | 9/27/17 | 178 | ||||||||||||
75 | Fannie Mae | 1.13 | 4/27/17 | 75 | ||||||||||||
152 | Fannie Mae | 1.63 | 10/26/15 | 155 | ||||||||||||
30 | Fannie Mae | 1.63 | 11/27/18 | 30 | ||||||||||||
150 | Fannie Mae (a) | 1.70 | 6/1/17 | 143 | ||||||||||||
75 | Fannie Mae (a) | 3.56 | 10/9/19 | 64 | ||||||||||||
10 | Fannie Mae, Callable 11/13/14 @ 100.00 | 5.38 | 11/13/28 | 10 | ||||||||||||
20 | Fannie Mae | 5.63 | 7/15/37 | 24 | ||||||||||||
20 | Fannie Mae, Callable 4/18/16 @ 100.00 | 6.00 | 4/18/36 | 22 | ||||||||||||
20 | Fannie Mae | 6.25 | 5/15/29 | 25 | ||||||||||||
25 | Fannie Mae | 7.13 | 1/15/30 | 34 | ||||||||||||
40 | Fannie Mae | 7.25 | 5/15/30 | 55 | ||||||||||||
10 | Federal Farm Credit Bank, Callable 1/14/14 @ 100.00 | 0.54 | 11/7/16 | 10 | ||||||||||||
10 | Federal Farm Credit Bank, Callable 1/14/14 @ 100.00 | 0.73 | 8/15/16 | 10 | ||||||||||||
30 | Federal Farm Credit Bank | 4.88 | 12/16/15 | 33 | ||||||||||||
20 | Federal Farm Credit Bank | 5.13 | 8/25/16 | 22 | ||||||||||||
30 | Federal Home Loan Bank, Callable 1/28/14 @ 100.00 | 0.45 | 12/28/15 | 30 | ||||||||||||
60 | Federal Home Loan Bank | 0.50 | 11/20/15 | 60 | ||||||||||||
30 | Federal Home Loan Bank | 2.75 | 3/13/15 | 31 | ||||||||||||
25 | Federal Home Loan Bank | 3.63 | 3/12/21 | 26 |
See accompanying notes to financial statements.
117
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Securities (continued) | ||||||||||||||||
$50 | Federal Home Loan Bank | 4.13 | 3/13/20 | $ | 55 | |||||||||||
95 | Federal Home Loan Bank | 4.75 | 12/16/16 | 106 | ||||||||||||
20 | Federal Home Loan Bank, Series 1069 | 5.00 | 11/17/17 | 23 | ||||||||||||
65 | Federal Home Loan Bank, Series 656 | 5.38 | 5/18/16 | 72 | ||||||||||||
15 | Federal Home Loan Bank | 5.63 | 6/11/21 | 18 | ||||||||||||
55 | Freddie Mac, Callable 1/29/14 @ 100.00 | 0.32 | 4/29/15 | 55 | ||||||||||||
50 | Freddie Mac | 0.42 | 9/18/15 | 50 | ||||||||||||
70 | Freddie Mac | 0.75 | 1/12/18 | 68 | ||||||||||||
100 | Freddie Mac | 1.00 | 3/8/17 | 100 | ||||||||||||
65 | Freddie Mac | 1.00 | 7/28/17 | 65 | ||||||||||||
50 | Freddie Mac | 1.00 | 9/29/17 | 49 | ||||||||||||
25 | Freddie Mac, Callable 2/28/14 @ 100.00 | 1.03 | 11/28/17 | 25 | ||||||||||||
20 | Freddie Mac, Callable 3/12/14 @ 100.00 | 1.20 | 6/12/18 | 20 | ||||||||||||
50 | Freddie Mac | 1.25 | 10/2/19 | 47 | ||||||||||||
20 | Freddie Mac, Callable 8/22/14 @ 100.00 | 1.40 | 8/22/19 | 19 | ||||||||||||
50 | Freddie Mac | 1.75 | 9/10/15 | 51 | ||||||||||||
10 | Freddie Mac, Callable 3/13/14 @ 100.00 | 2.25 | 3/13/20 | 10 | ||||||||||||
80 | Freddie Mac | 2.38 | 1/13/22 | 76 | ||||||||||||
100 | Freddie Mac | 2.88 | 2/9/15 | 103 | ||||||||||||
100 | Freddie Mac | 5.25 | 4/18/16 | 111 | ||||||||||||
25 | Freddie Mac | 6.25 | 7/15/32 | 32 | ||||||||||||
35 | Tennessee Valley Authority | 5.25 | 9/15/39 | 37 | ||||||||||||
Total U.S. Government Agency Securities | 2,565 | |||||||||||||||
Corporate Bonds — 25.58% | ||||||||||||||||
210 | 3M Co. (Industrial Conglomerates) | 1.38 | 9/29/16 | 213 | ||||||||||||
594 | Agilent Technologies, Inc. (Life Sciences Tools & Services), Callable 4/15/23 @ 100.00 | 3.88 | 7/15/23 | 563 | ||||||||||||
343 | Allstate Corp. (Insurance), Callable 8/15/23 @ 100.00 | 5.75 | 8/15/53 | 346 | ||||||||||||
674 | American Airlines 2013-2, Class A (Airlines) (b) | 4.95 | 1/15/23 | 695 | ||||||||||||
520 | American International Group, MTN (Insurance) | 5.85 | 1/16/18 | 596 | ||||||||||||
412 | American Tower Corp. (Real Estate Investment Trusts) | 3.50 | 1/31/23 | 376 | ||||||||||||
505 | American Tower Corp. (Real Estate Investment Trusts) | 5.00 | 2/15/24 | 508 | ||||||||||||
103 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | 3.00 | 4/15/16 | 107 | ||||||||||||
180 | Apple, Inc. (Computer Hardware) | 3.85 | 5/4/43 | 150 | ||||||||||||
278 | Arch Capital Group (U.S.), Inc. (Insurance) | 5.14 | 11/1/43 | 278 | ||||||||||||
620 | AT&T, Inc. (Wireless Telecommunication Services) | 2.38 | 11/27/18 | 620 | ||||||||||||
293 | AT&T, Inc. (Wireless Telecommunication Services), Callable 12/15/44 @ 100.00 | 4.35 | 6/15/45 | 248 | ||||||||||||
273 | AutoZone, Inc. (Specialty Retail), Callable 1/15/22 @ 100.00 | 3.70 | 4/15/22 | 263 | ||||||||||||
295 | Barrick NA Finance LLC (Diversified Metals & Mining) | 5.75 | 5/1/43 | 265 | ||||||||||||
650 | Berkshire Hathaway, Inc. (Insurance) | 3.20 | 2/11/15 | 670 | ||||||||||||
522 | CC Holdings GS V LLC (Wireless Telecommunication Services) | 3.85 | 4/15/23 | 489 | ||||||||||||
244 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 2/22/16 | 268 | ||||||||||||
313 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 1/15/40 | 332 | ||||||||||||
754 | Citigroup, Inc. (Diversified Financial Services) | 2.50 | 9/26/18 | 757 | ||||||||||||
226 | Citigroup, Inc. (Diversified Financial Services) | 6.68 | 9/13/43 | 260 | ||||||||||||
233 | Comcast Corp. (Media) | 4.65 | 7/15/42 | 216 | ||||||||||||
415 | Digital Realty Trust LP (Real Estate Investment Trusts) | 5.88 | 2/1/20 | 442 |
See accompanying notes to financial statements.
118
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$155 | Dominion Resources, Inc. (Multi-Utilities) | 1.95 | 8/15/16 | $ | 158 | |||||||||||
113 | eBay, Inc. (Internet Software & Services), Callable 1/15/42 @ 100.00 | 4.00 | 7/15/42 | 96 | ||||||||||||
339 | Enterprise Products Operating LLC (Commercial Banks) | 4.85 | 3/15/44 | 319 | ||||||||||||
309 | ERAC USA Finance Co. (Diversified Financial Services) (b) | 5.25 | 10/1/20 | 340 | ||||||||||||
142 | ERAC USA Finance Co. (Diversified Financial Services) (b) | 5.60 | 5/1/15 | 151 | ||||||||||||
316 | ERAC USA Finance LLC (Diversified Financial Services) (b) | 2.80 | 11/1/18 | 320 | ||||||||||||
300 | Exelon Generation Co. LLC (Independent Power Producers & Energy Traders) | 6.20 | 10/1/17 | 339 | ||||||||||||
326 | Express Scripts Holding Co. (Personal Products) | 2.65 | 2/15/17 | 336 | ||||||||||||
316 | Fidelity National Information Services, Inc. (Data Processing & Outsourced Services), Callable 1/15/23 @ 100.00 | 3.50 | 4/15/23 | 288 | ||||||||||||
529 | Fifth Third Bank, Series BKNT (Commercial Banks), Callable 1/28/18 @ 100.00 | 1.45 | 2/28/18 | 515 | ||||||||||||
200 | Ford Motor Credit Co. LLC (Diversified Financial Services) | 4.38 | 8/6/23 | 201 | ||||||||||||
567 | Ford Motor Credit Co. LLC (Diversified Financial Services) | 5.00 | 5/15/18 | 632 | ||||||||||||
300 | General Electric Capital Corp., Series C (Diversified Financial Services), Callable 6/15/23 @ 100.00, Perpetual Bond (c) | 5.25 | — | 281 | ||||||||||||
700 | General Electric Capital Corp., Series B (Diversified Financial Services), Callable 12/15/22 @ 100.00, Perpetual Bond (c) | 6.25 | — | 722 | ||||||||||||
213 | General Electric Co. (Industrial Conglomerates) | 4.13 | 10/9/42 | 197 | ||||||||||||
180 | General Electric Co. (Industrial Conglomerates) | 5.25 | 12/6/17 | 204 | ||||||||||||
773 | Goldman Sachs Group, Inc. (Capital Markets) | 2.90 | 7/19/18 | 786 | ||||||||||||
245 | Intel Corp. (Semiconductors & Semiconductor Equipment) | 1.95 | 10/1/16 | 252 | ||||||||||||
592 | Intel Corp. (Semiconductors & Semiconductor Equipment) | 4.25 | 12/15/42 | 524 | ||||||||||||
151 | Intel Corp. (Semiconductors & Semiconductor Equipment) | 4.80 | 10/1/41 | 147 | ||||||||||||
787 | JPMorgan Chase & Co. (Diversified Financial Services) | 1.63 | 5/15/18 | 770 | ||||||||||||
268 | KeyBank NA, Series BKNT (Commercial Banks) | 1.65 | 2/1/18 | 264 | ||||||||||||
732 | Kinder Morgan Energy Partners LP (Oil, Gas & Consumable Fuels), Callable 2/15/42 @ 100.00 | 5.00 | 8/15/42 | 676 | ||||||||||||
605 | Lazard Group LLC (Capital Markets) | 4.25 | 11/14/20 | 604 | ||||||||||||
357 | Macy's Retail Holdings, Inc. (Multiline Retail), Callable 8/15/42 @ 100.00 | 4.30 | 2/15/43 | 301 | ||||||||||||
290 | MassMutual Global Funding LLC (Thrifts & Mortgage Finance) (b) | 2.00 | 4/5/17 | 291 | ||||||||||||
146 | MidAmerican Energy Holdings Co. (Electric Utilities) | 6.13 | 4/1/36 | 166 | ||||||||||||
919 | Morgan Stanley (Capital Markets) | 5.00 | 11/24/25 | 921 | ||||||||||||
160 | Mylan, Inc. (Pharmaceuticals) (b) | 1.80 | 6/24/16 | 163 | ||||||||||||
237 | Newmont Mining Corp. (Metals & Mining) | 6.25 | 10/1/39 | 210 | ||||||||||||
176 | Pacific Gas & Electric Co. (Independent Power Producers & Energy Traders), Callable 5/15/43 @ 100.00 | 5.13 | 11/15/43 | 182 | ||||||||||||
636 | PNC Bank NA (Commercial Banks), Callable 12/28/15 @ 100.00 | 0.80 | 1/28/16 | 634 | ||||||||||||
26 | Private Export Funding Corp. (Diversified Financial Services) | 2.13 | 7/15/16 | 27 | ||||||||||||
455 | Sabmiller Holdings, Inc. (Beverages) (b) | 2.45 | 1/15/17 | 466 | ||||||||||||
322 | TC Pipelines LP (Oil, Gas & Consumable Fuels) | 4.65 | 6/15/21 | 326 | ||||||||||||
217 | The Dow Chemical Co. (Chemicals), Callable 5/15/42 @ 100.00 | 4.38 | 11/15/42 | 191 | ||||||||||||
225 | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), Callable 8/1/43 @ 100.00 | 5.30 | 2/1/44 | 228 | ||||||||||||
226 | Time Warner, Inc. (Media) | 4.90 | 6/15/42 | 215 | ||||||||||||
210 | Toyota Motor Credit Corp., MTN (Diversified Financial Services) | 3.20 | 6/17/15 | 218 | ||||||||||||
1,035 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 6.55 | 9/15/43 | 1,211 | ||||||||||||
680 | Wal-Mart Stores, Inc. (Specialty Retail) | 1.95 | 12/15/18 | 678 | ||||||||||||
215 | WellPoint, Inc. (Health Care Providers & Services) | 5.10 | 1/15/44 | 213 |
See accompanying notes to financial statements.
119
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$544 | Wells Fargo & Co. (Commercial Banks) | 1.25 | 2/13/15 | $ | 548 | |||||||||||
155 | Zoetis, Inc. (Personal Products), Callable 8/1/42 @ 100.00 | 4.70 | 2/1/43 | 145 | ||||||||||||
Total Corporate Bonds | 25,118 | |||||||||||||||
U.S. Treasury Obligations — 23.66% | ||||||||||||||||
109 | U.S. Treasury Bond | 2.75 | 11/15/42 | 86 | ||||||||||||
128 | U.S. Treasury Bond | 2.75 | 8/15/42 | 101 | ||||||||||||
140 | U.S. Treasury Bond | 2.88 | 5/15/43 | 113 | ||||||||||||
174 | U.S. Treasury Bond | 3.00 | 5/15/42 | 146 | ||||||||||||
104 | U.S. Treasury Bond | 3.13 | 11/15/41 | 90 | ||||||||||||
162 | U.S. Treasury Bond | 3.13 | 2/15/42 | 140 | ||||||||||||
165 | U.S. Treasury Bond | 3.13 | 2/15/43 | 141 | ||||||||||||
40 | U.S. Treasury Bond | 3.50 | 2/15/39 | 38 | ||||||||||||
70 | U.S. Treasury Bond | 3.63 | 8/15/43 | 66 | ||||||||||||
100 | U.S. Treasury Bond | 3.75 | 11/15/43 | 97 | ||||||||||||
135 | U.S. Treasury Bond | 3.75 | 8/15/41 | 132 | ||||||||||||
100 | U.S. Treasury Bond | 3.88 | 8/15/40 | 100 | ||||||||||||
82 | U.S. Treasury Bond | 4.25 | 5/15/39 | 87 | ||||||||||||
100 | U.S. Treasury Bond | 4.25 | 11/15/40 | 106 | ||||||||||||
45 | U.S. Treasury Bond | 4.38 | 2/15/38 | 49 | ||||||||||||
70 | U.S. Treasury Bond | 4.38 | 11/15/39 | 76 | ||||||||||||
100 | U.S. Treasury Bond | 4.38 | 5/15/40 | 109 | ||||||||||||
57 | U.S. Treasury Bond | 4.50 | 2/15/36 | 63 | ||||||||||||
100 | U.S. Treasury Bond | 4.63 | 2/15/40 | 113 | ||||||||||||
70 | U.S. Treasury Bond | 4.75 | 2/15/41 | 81 | ||||||||||||
50 | U.S. Treasury Bond | 5.38 | 2/15/31 | 61 | ||||||||||||
61 | U.S. Treasury Bond | 6.00 | 2/15/26 | 78 | ||||||||||||
50 | U.S. Treasury Bond | 6.13 | 8/15/29 | 66 | ||||||||||||
80 | U.S. Treasury Bond | 6.13 | 11/15/27 | 104 | ||||||||||||
70 | U.S. Treasury Bond | 6.25 | 5/15/30 | 94 | ||||||||||||
100 | U.S. Treasury Bond | 6.50 | 11/15/26 | 134 | ||||||||||||
17 | U.S. Treasury Bond | 7.50 | 11/15/24 | 24 | ||||||||||||
15 | U.S. Treasury Bond | 7.63 | 2/15/25 | 21 | ||||||||||||
150 | U.S. Treasury Note | 0.25 | 2/15/15 | 150 | ||||||||||||
200 | U.S. Treasury Note | 0.25 | 10/31/15 | 200 | ||||||||||||
120 | U.S. Treasury Note | 0.25 | 11/30/15 | 120 | ||||||||||||
120 | U.S. Treasury Note | 0.25 | 12/31/15 | 120 | ||||||||||||
125 | U.S. Treasury Note | 0.25 | 9/30/15 | 125 | ||||||||||||
167 | U.S. Treasury Note | 0.25 | 7/15/15 | 167 | ||||||||||||
250 | U.S. Treasury Note | 0.25 | 4/15/16 | 249 | ||||||||||||
185 | U.S. Treasury Note | 0.25 | 5/15/16 | 184 | ||||||||||||
174 | U.S. Treasury Note | 0.25 | 5/15/15 | 174 | ||||||||||||
250 | U.S. Treasury Note | 0.25 | 5/31/15 | 250 | ||||||||||||
130 | U.S. Treasury Note | 0.25 | 7/31/15 | 130 | ||||||||||||
185 | U.S. Treasury Note | 0.25 | 12/15/15 | 185 | ||||||||||||
149 | U.S. Treasury Note | 0.25 | 8/15/15 | 149 | ||||||||||||
300 | U.S. Treasury Note | 0.25 | 3/31/15 | 299 |
See accompanying notes to financial statements.
120
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$120 | U.S. Treasury Note | 0.25 | 2/28/15 | $ | 120 | |||||||||||
176 | U.S. Treasury Note | 0.25 | 9/15/15 | 176 | ||||||||||||
176 | U.S. Treasury Note | 0.25 | 10/15/15 | 176 | ||||||||||||
187 | U.S. Treasury Note | 0.38 | 4/15/15 | 187 | ||||||||||||
174 | U.S. Treasury Note | 0.38 | 6/15/15 | 174 | ||||||||||||
243 | U.S. Treasury Note | 0.38 | 2/15/16 | 243 | ||||||||||||
185 | U.S. Treasury Note | 0.38 | 11/15/15 | 185 | ||||||||||||
185 | U.S. Treasury Note | 0.38 | 1/15/16 | 185 | ||||||||||||
168 | U.S. Treasury Note | 0.38 | 3/15/16 | 168 | ||||||||||||
134 | U.S. Treasury Note | 0.38 | 3/15/15 | 134 | ||||||||||||
120 | U.S. Treasury Note | 0.50 | 6/15/16 | 120 | ||||||||||||
185 | U.S. Treasury Note | 0.63 | 7/15/16 | 185 | ||||||||||||
185 | U.S. Treasury Note | 0.63 | 8/15/16 | 185 | ||||||||||||
270 | U.S. Treasury Note | 0.63 | 9/30/17 | 263 | ||||||||||||
120 | U.S. Treasury Note | 0.63 | 4/30/18 | 116 | ||||||||||||
115 | U.S. Treasury Note | 0.63 | 11/15/16 | 115 | ||||||||||||
110 | U.S. Treasury Note | 0.63 | 10/15/16 | 110 | ||||||||||||
195 | U.S. Treasury Note | 0.63 | 11/30/17 | 190 | ||||||||||||
200 | U.S. Treasury Note | 0.63 | 5/31/17 | 197 | ||||||||||||
180 | U.S. Treasury Note | 0.63 | 8/31/17 | 177 | ||||||||||||
115 | U.S. Treasury Note | 0.63 | 12/15/16 | 115 | ||||||||||||
50 | U.S. Treasury Note | 0.75 | 3/31/18 | 49 | ||||||||||||
169 | �� | U.S. Treasury Note | 0.75 | 2/28/18 | 165 | |||||||||||
160 | U.S. Treasury Note | 0.75 | 10/31/17 | 157 | ||||||||||||
178 | U.S. Treasury Note | 0.75 | 12/31/17 | 174 | ||||||||||||
70 | U.S. Treasury Note | 0.88 | 2/28/17 | 70 | ||||||||||||
250 | U.S. Treasury Note | 0.88 | 12/31/16 | 251 | ||||||||||||
191 | U.S. Treasury Note | 0.88 | 1/31/18 | 187 | ||||||||||||
150 | U.S. Treasury Note | 0.88 | 7/31/19 | 141 | ||||||||||||
145 | U.S. Treasury Note | 0.88 | 4/30/17 | 145 | ||||||||||||
115 | U.S. Treasury Note | 0.88 | 9/15/16 | 116 | ||||||||||||
95 | U.S. Treasury Note | 1.00 | 11/30/19 | 89 | ||||||||||||
139 | U.S. Treasury Note | 1.00 | 8/31/19 | 131 | ||||||||||||
194 | U.S. Treasury Note | 1.00 | 5/31/18 | 190 | ||||||||||||
226 | U.S. Treasury Note | 1.00 | 10/31/16 | 228 | ||||||||||||
208 | U.S. Treasury Note | 1.00 | 8/31/16 | 210 | ||||||||||||
260 | U.S. Treasury Note | 1.00 | 3/31/17 | 261 | ||||||||||||
18 | U.S. Treasury Note | 1.00 | 9/30/16 | 18 | ||||||||||||
100 | U.S. Treasury Note | 1.13 | 3/31/20 | 94 | ||||||||||||
185 | U.S. Treasury Note | 1.25 | 2/29/20 | 175 | ||||||||||||
179 | U.S. Treasury Note | 1.25 | 9/30/15 | 182 | ||||||||||||
340 | U.S. Treasury Note | 1.25 | 11/30/18 | 332 | ||||||||||||
182 | U.S. Treasury Note | 1.25 | 8/31/15 | 185 | ||||||||||||
150 | U.S. Treasury Note | 1.25 | 1/31/19 | 146 | ||||||||||||
156 | U.S. Treasury Note | 1.25 | 10/31/15 | 159 | ||||||||||||
100 | U.S. Treasury Note | 1.25 | 10/31/18 | 98 |
See accompanying notes to financial statements.
121
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$114 | U.S. Treasury Note | 1.38 | 2/28/19 | $ | 112 | |||||||||||
158 | U.S. Treasury Note | 1.38 | 11/30/15 | 161 | ||||||||||||
135 | U.S. Treasury Note | 1.38 | 9/30/18 | 133 | ||||||||||||
150 | U.S. Treasury Note | 1.38 | 6/30/18 | 149 | ||||||||||||
51 | U.S. Treasury Note | 1.38 | 12/31/18 | 50 | ||||||||||||
135 | U.S. Treasury Note | 1.50 | 12/31/18 | 133 | ||||||||||||
185 | U.S. Treasury Note | 1.50 | 6/30/16 | 189 | ||||||||||||
285 | U.S. Treasury Note | 1.50 | 8/31/18 | 283 | ||||||||||||
207 | U.S. Treasury Note | 1.63 | 8/15/22 | 188 | ||||||||||||
217 | U.S. Treasury Note | 1.63 | 11/15/22 | 196 | ||||||||||||
186 | U.S. Treasury Note | 1.75 | 7/31/15 | 190 | ||||||||||||
140 | U.S. Treasury Note | 1.75 | 10/31/18 | 141 | ||||||||||||
90 | U.S. Treasury Note | 1.75 | 5/15/22 | 83 | ||||||||||||
289 | U.S. Treasury Note | 1.75 | 5/15/23 | 260 | ||||||||||||
65 | U.S. Treasury Note | 1.75 | 10/31/20 | 62 | ||||||||||||
205 | U.S. Treasury Note | 1.88 | 6/30/20 | 200 | ||||||||||||
189 | U.S. Treasury Note | 1.88 | 6/30/15 | 194 | ||||||||||||
200 | U.S. Treasury Note | 1.88 | 10/31/17 | 205 | ||||||||||||
129 | U.S. Treasury Note | 2.00 | 1/31/16 | 133 | ||||||||||||
110 | U.S. Treasury Note | 2.00 | 9/30/20 | 108 | ||||||||||||
48 | U.S. Treasury Note | 2.00 | 4/30/16 | 50 | ||||||||||||
170 | U.S. Treasury Note | 2.00 | 11/15/21 | 162 | ||||||||||||
260 | U.S. Treasury Note | 2.00 | 2/15/23 | 241 | ||||||||||||
120 | U.S. Treasury Note | 2.00 | 2/15/22 | 114 | ||||||||||||
105 | U.S. Treasury Note | 2.00 | 7/31/20 | 103 | ||||||||||||
284 | U.S. Treasury Note | 2.13 | 8/15/21 | 274 | ||||||||||||
150 | U.S. Treasury Note | 2.13 | 12/31/15 | 155 | ||||||||||||
176 | U.S. Treasury Note | 2.13 | 5/31/15 | 181 | ||||||||||||
105 | U.S. Treasury Note | 2.13 | 8/31/20 | 104 | ||||||||||||
81 | U.S. Treasury Note | 2.25 | 3/31/16 | 84 | ||||||||||||
214 | U.S. Treasury Note | 2.25 | 1/31/15 | 219 | ||||||||||||
125 | U.S. Treasury Note | 2.25 | 11/30/17 | 130 | ||||||||||||
110 | U.S. Treasury Note | 2.38 | 12/31/20 | 110 | ||||||||||||
275 | U.S. Treasury Note | 2.50 | 8/15/23 | 264 | ||||||||||||
134 | U.S. Treasury Note | 2.50 | 3/31/15 | 138 | ||||||||||||
149 | U.S. Treasury Note | 2.50 | 4/30/15 | 153 | ||||||||||||
224 | U.S. Treasury Note | 2.63 | 11/15/20 | 228 | ||||||||||||
252 | U.S. Treasury Note | 2.63 | 8/15/20 | 257 | ||||||||||||
210 | U.S. Treasury Note | 2.75 | 2/15/19 | 220 | ||||||||||||
150 | U.S. Treasury Note | 2.75 | 12/31/17 | 159 | ||||||||||||
9 | U.S. Treasury Note | 2.75 | 5/31/17 | 10 | ||||||||||||
164 | U.S. Treasury Note | 2.75 | 11/30/16 | 173 | ||||||||||||
201 | U.S. Treasury Note | 3.00 | 8/31/16 | 213 | ||||||||||||
123 | U.S. Treasury Note | 3.00 | 9/30/16 | 131 | ||||||||||||
191 | U.S. Treasury Note | 3.13 | 5/15/19 | 204 | ||||||||||||
100 | U.S. Treasury Note | 3.13 | 1/31/17 | 107 |
See accompanying notes to financial statements.
122
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$154 | U.S. Treasury Note | 3.13 | 5/15/21 | $ | 161 | |||||||||||
113 | U.S. Treasury Note | 3.13 | 4/30/17 | 121 | ||||||||||||
79 | U.S. Treasury Note | 3.25 | 6/30/16 | 84 | ||||||||||||
223 | U.S. Treasury Note | 3.25 | 7/31/16 | 238 | ||||||||||||
245 | U.S. Treasury Note | 3.25 | 3/31/17 | 263 | ||||||||||||
235 | U.S. Treasury Note | 3.25 | 12/31/16 | 252 | ||||||||||||
231 | U.S. Treasury Note | 3.38 | 11/15/19 | 248 | ||||||||||||
149 | U.S. Treasury Note | 3.50 | 5/15/20 | 161 | ||||||||||||
100 | U.S. Treasury Note | 3.50 | 2/15/18 | 109 | ||||||||||||
245 | U.S. Treasury Note | 3.63 | 2/15/20 | 266 | ||||||||||||
185 | U.S. Treasury Note | 3.63 | 2/15/21 | 200 | ||||||||||||
136 | U.S. Treasury Note | 3.63 | 8/15/19 | 148 | ||||||||||||
60 | U.S. Treasury Note | 3.75 | 11/15/18 | 66 | ||||||||||||
207 | U.S. Treasury Note | 4.00 | 2/15/15 | 216 | ||||||||||||
30 | U.S. Treasury Note | 4.00 | 8/15/18 | 33 | ||||||||||||
191 | U.S. Treasury Note | 4.25 | 8/15/15 | 203 | ||||||||||||
137 | U.S. Treasury Note | 4.88 | 8/15/16 | 152 | ||||||||||||
100 | U.S. Treasury Note | 9.00 | 11/15/18 | 135 | ||||||||||||
100 | U.S. Treasury Note | 9.13 | 5/15/18 | 133 | ||||||||||||
168 | U.S. Treasury Note | 11.25 | 2/15/15 | 189 | ||||||||||||
Total U.S. Treasury Obligations | 23,224 | |||||||||||||||
Yankee Dollars — 6.85% | ||||||||||||||||
167 | Allied World Assurance Co. Ltd. (Insurance) | 5.50 | 11/15/20 | 181 | ||||||||||||
700 | AstraZeneca PLC (Pharmaceuticals) | 1.95 | 9/18/19 | 681 | ||||||||||||
255 | Barrick (PD) Australia Finance Pty Ltd. (Metals & Mining) | 5.95 | 10/15/39 | 221 | ||||||||||||
207 | Barrick International (Barbados) Corp. (Metals & Mining) (b) | 6.35 | 10/15/36 | 186 | ||||||||||||
556 | BNP Paribas, MTN (Diversified Banks) | 2.40 | 12/12/18 | 554 | ||||||||||||
393 | BP Capital Markets PLC (Oil, Gas & Consumable Fuels) | 2.25 | 11/1/16 | 407 | ||||||||||||
373 | Ensco PLC (Energy Equipment & Services) | 4.70 | 3/15/21 | 395 | ||||||||||||
279 | Fairfax Financial Holdings Ltd. (Insurance) (b) | 5.80 | 5/15/21 | 283 | ||||||||||||
381 | Japan Tobacco, Inc. (Tobacco) (b) | 2.10 | 7/23/18 | 380 | ||||||||||||
651 | Kinross Gold Corp. (Metals & Mining) | 5.13 | 9/1/21 | 626 | ||||||||||||
200 | Lloyds Banking Group PLC (Diversified Banks) | 2.30 | 11/27/18 | 199 | ||||||||||||
212 | Perrigo Co. PLC (Pharmaceuticals), Callable 5/15/43 @ 100.00 (b) | 5.30 | 11/15/43 | 208 | ||||||||||||
385 | SoftBank Corp. (Wireless Telecommunication Services) (b) | 4.50 | 4/15/20 | 375 | ||||||||||||
356 | TSMC Global Ltd. (Semiconductors & Semiconductor Equipment) (b) | 1.63 | 4/3/18 | 341 | ||||||||||||
354 | Volkswagen International Finance N.V. (Diversified Financial Services) (b) | 2.38 | 3/22/17 | 363 | ||||||||||||
101 | Weatherford Bermuda Holdings Ltd. (Energy Equipment & Services) | 5.13 | 9/15/20 | 109 | ||||||||||||
248 | Weatherford Bermuda Holdings Ltd. (Energy Equipment & Services), Callable 10/17/41 @ 100.00 | 5.95 | 4/15/42 | 248 | ||||||||||||
179 | Weatherford International Ltd. (Energy Equipment & Services) | 6.50 | 8/1/36 | 186 | ||||||||||||
315 | Wesfarmers Ltd. (Multiline Retail) (b) | 1.87 | 3/20/18 | 306 | ||||||||||||
452 | Woodside Finance Ltd. (Thrifts & Mortgage Finance), Callable 2/10/21 @ 100.00 (b) | 4.60 | 5/10/21 | 473 | ||||||||||||
Total Yankee Dollars | 6,722 |
See accompanying notes to financial statements.
123
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares or Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Preferred Stocks — 0.81% | ||||||||||||||||
7,425 | Arch Capital Group Ltd., Series C (Insurance) Callable 4/2/17 @ 25.00 | $ | 170 | |||||||||||||
5,250 | PNC Financial Services Group, Inc., Series P (Regional Banks) Callable 5/1/22 @ 25.00 | 133 | ||||||||||||||
3,075 | Public Storage, Inc., Series U (Real Estate Investment Trusts) Callable 6/15/17 @ 25.00 | 62 | ||||||||||||||
4,725 | Reinsurance Group of America (Insurance) Callable 9/15/22 @ 25.00 | 115 | ||||||||||||||
11,950 | U.S. Bancorp, Series F (Commercial Banks) Callable 1/15/22 @ 25.00 | 314 | ||||||||||||||
Total Preferred Stocks | 794 | |||||||||||||||
Time Deposit — 0.34% | ||||||||||||||||
329 | State Street Liquidity Management Control System Eurodollar Time Deposit | 0.01 | 1/2/14 | 329 | ||||||||||||
Total Time Deposit | 329 | |||||||||||||||
Mutual Funds — 5.99% | ||||||||||||||||
4,531,356 | SSgA Treasury Money Market Fund (d) | 0.00 | 4,531 | |||||||||||||
1,344,596 | SSgA U.S. Government Money Market Fund (d) | 0.00 | 1,345 | |||||||||||||
Total Mutual Funds | 5,876 | |||||||||||||||
Total Investments Before TBA Sale Commitments (cost $105,011) — 105.98% | 104,043 | |||||||||||||||
TBA Sale Commitments (e) — (1.70)% | ||||||||||||||||
$(100) | Fannie Mae, 15 YR TBA | 5.00 | 1/25/29 | (106 | ) | |||||||||||
(200) | Fannie Mae, 15 YR TBA | 4.00 | 1/25/28 | (212 | ) | |||||||||||
(500) | Fannie Mae, 30 YR TBA | 6.00 | 1/25/44 | (555 | ) | |||||||||||
(700) | Freddie Mac, Gold 30 YR TBA | 4.50 | 1/15/43 | (741 | ) | |||||||||||
(50) | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/15/44 | (53 | ) | |||||||||||
Total TBA Sale Commitments | (1,667 | ) | ||||||||||||||
Liabilities in excess of other assets — (4.28)% | (4,199 | ) | ||||||||||||||
Net Assets — 100.00% | $ | 98,177 |
(a) | Rate disclosed represents effective yield at purchase. |
(b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(c) | A perpetual bond is one with no maturity date that pays a fixed interest rate forever. |
(d) | The rate disclosed is the rate in effect on December 31, 2013. |
(e) | Represents a “to be announced” transaction. The Portfolio has committed to sell securities for which all specific information is not available at this time. (See Note 2 in the Notes to Financial Statements.) |
MTN — Medium Term Note
TBA — Security is subject to delayed delivery
See accompanying notes to financial statements.
124
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
The following table reflects the percentage of the total net assets of the Portfolio attributable to each Specialist Manager, see Note 3 in the Notes to Financial Statements.
The Core Fixed Income Portfolio | Mellon Capital Management Corp. | Seix Investment Advisors LLC | Total | |||||||||
Asset Backed Securities | 0.41 | % | — | 0.41 | % | |||||||
Collateralized Mortgage Obligations | 2.11 | % | — | 2.11 | % | |||||||
U.S. Government Agency Mortgages | 37.62 | % | — | 37.62 | % | |||||||
U.S. Government Agency Securities | 2.61 | % | — | 2.61 | % | |||||||
Corporate Bonds | 0.03 | % | 25.55 | % | 25.58 | % | ||||||
U.S. Treasury Obligations | 23.66 | % | — | 23.66 | % | |||||||
Yankee Dollars | — | 6.85 | % | 6.85 | % | |||||||
Preferred Stocks | — | 0.81 | % | 0.81 | % | |||||||
Time Deposit | 0.34 | % | — | 0.34 | % | |||||||
Mutual Funds | 4.62 | % | 1.37 | % | 5.99 | % | ||||||
Other Assets (Liabilities) | -6.31 | % | 0.33 | % | -5.98 | % | ||||||
Total Investments | 65.09 | % | 34.91 | % | 100.00 | % |
See accompanying notes to financial statements.
125
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds — 76.72% | ||||||||||||||||
$3,696 | Accellent, Inc. (Health Care Equipment & Supplies), Callable 2/7/14 @ 104.19 | 8.38 | 2/1/17 | $ | 3,867 | |||||||||||
1,500 | Access Midstream Partners LP (Oil, Gas & Consumable Fuels), Callable 12/15/17 @ 102.44 | 4.88 | 5/15/23 | 1,448 | ||||||||||||
2,015 | Access Midstream Partners LP (Oil, Gas & Consumable Fuels), Callable 1/15/17 @ 103.06 | 6.13 | 7/15/22 | 2,156 | ||||||||||||
392 | Acco Brands Corp. (Office Services & Supplies), Callable 4/30/17 @ 103.38 | 6.75 | 4/30/20 | 387 | ||||||||||||
3,901 | Activision Blizzard, Inc. (Software), Callable 9/15/16 @ 104.22 (a) | 5.63 | 9/15/21 | 4,038 | ||||||||||||
3,708 | Aleris International, Inc. (Metals & Mining), Callable 2/15/14 @ 105.72 | 7.63 | 2/15/18 | 3,922 | ||||||||||||
279 | Aleris International, Inc. (Metals & Mining), Callable 11/1/15 @ 105.91 | 7.88 | 11/1/20 | 296 | ||||||||||||
4,094 | Allegion US Holding Co., Inc. (Home Improvement Retail), Callable 10/1/16 @ 104.31(a) | 5.75 | 10/1/21 | 4,258 | ||||||||||||
4,897 | Alliant Techsystems, Inc. (Aerospace & Defense), Callable 10/1/16 @ 103.94 (a) | 5.25 | 10/1/21 | 4,909 | ||||||||||||
960 | Ally Financial, Inc. (Diversified Financial Services) | 5.50 | 2/15/17 | 1,039 | ||||||||||||
2,495 | Ally Financial, Inc. (Diversified Financial Services) | 6.25 | 12/1/17 | 2,782 | ||||||||||||
1,825 | Ally Financial, Inc. (Diversified Financial Services) | 8.00 | 12/31/18 | 2,154 | ||||||||||||
3,375 | Ally Financial, Inc. (Diversified Financial Services) | 8.00 | 11/1/31 | 4,016 | ||||||||||||
4,791 | AMC Networks, Inc. (Media), Callable 7/15/16 @ 103.88 | 7.75 | 7/15/21 | 5,389 | ||||||||||||
500 | AmerenEnergy Generating Co., Series H (Electric Utilities) | 7.00 | 4/15/18 | 428 | ||||||||||||
2,366 | American Airlines Pass-Through Trust, Series 2013-2, Class B (Airlines) (a) | 5.60 | 7/15/20 | 2,389 | ||||||||||||
3,832 | American Axle & Manufacturing, Inc. (Auto Components), Callable 3/15/16 @ 104.69 | 6.25 | 3/15/21 | 4,072 | ||||||||||||
610 | Amsted Industries, Inc. (Machinery), Callable 3/15/14 @ 104.06 (a) | 8.13 | 3/15/18 | 643 | ||||||||||||
1,049 | Aramark Corp. (Food Products), Callable 3/15/15 @ 104.31 (a) | 5.75 | 3/15/20 | 1,096 | ||||||||||||
1,641 | Asbury Automotive Group, Inc. (Automotive Retail), Callable 11/15/15 @ 104.19 | 8.38 | 11/15/20 | 1,844 | ||||||||||||
1,500 | Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp. (Oil, Gas & Consumable Fuels), Callable 5/15/16 @ 103.56 (a) | 4.75 | 11/15/21 | 1,373 | ||||||||||||
1,144 | Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp. (Oil, Gas & Consumable Fuels), Callable 2/1/18 @ 102.94 (a) | 5.88 | 8/1/23 | 1,090 | ||||||||||||
1,783 | Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp. (Oil, Gas & Consumable Fuels), Callable 10/1/16 @ 103.31 | 6.63 | 10/1/20 | 1,863 | ||||||||||||
5,000 | Audatex Holdings, Inc. (Internet Software & Services), Callable 6/15/17 @ 103.00 (a) | 6.00 | 6/15/21 | 5,238 | ||||||||||||
3,126 | AutoNation, Inc. (Specialty Retail) | 5.50 | 2/1/20 | 3,357 | ||||||||||||
502 | Basic Energy Services, Inc. (Energy Equipment & Services), Callable 10/15/17 @ 103.88 | 7.75 | 10/15/22 | 518 | ||||||||||||
3,452 | Basic Energy Services, Inc. (Energy Equipment & Services), Callable 2/15/15 @ 103.88 | 7.75 | 2/15/19 | 3,607 | ||||||||||||
2,905 | BE Aerospace, Inc. (Aerospace & Defense), Callable 4/1/17 @ 102.63 | 5.25 | 4/1/22 | 2,949 | ||||||||||||
1,953 | Belden, Inc. (Electric Utilities), Callable 9/1/17 @ 102.75 (a) | 5.50 | 9/1/22 | 1,913 | ||||||||||||
700 | Berry Petroleum Co. (Oil, Gas & Consumable Fuels), Callable 3/15/17 @ 103.19 | 6.38 | 9/15/22 | 712 | ||||||||||||
1,575 | Berry Petroleum Co. (Oil, Gas & Consumable Fuels), Callable 11/1/15 @ 103.38 | 6.75 | 11/1/20 | 1,634 | ||||||||||||
6,000 | Bill Barrett Corp. (Oil, Gas & Consumable Fuels), Callable 10/15/17 @ 103.50 | 7.00 | 10/15/22 | 6,225 | ||||||||||||
5,799 | BI-LO LLC/BI-LO Finance Corp. (Food & Staples Retailing), Callable 2/15/15 @ 104.63 (a) | 9.25 | 2/15/19 | 6,408 | ||||||||||||
2,025 | Cablevision Systems Corp. (Media) | 8.00 | 4/15/20 | 2,263 | ||||||||||||
405 | Calfrac Holdings LP (Oil & Gas Equipment & Services), Callable 12/1/15 @ 103.75 (a) | 7.50 | 12/1/20 | 413 | ||||||||||||
2,576 | Calpine Corp. (Independent Power Producers & Energy Traders), Callable 11/1/15 @ 103.75 (a) | 7.50 | 2/15/21 | 2,811 | ||||||||||||
4,953 | Calpine Corp. (Independent Power Producers & Energy Traders), Callable 1/15/17 @ 103.94 (a) | 7.88 | 1/15/23 | 5,411 | ||||||||||||
4,399 | Carrizo Oil & Gas, Inc. (Oil, Gas & Consumable Fuels), Callable 9/15/16 @ 103.75 | 7.50 | 9/15/20 | 4,817 | ||||||||||||
1,000 | Carrizo Oil & Gas, Inc. (Oil, Gas & Consumable Fuels), Callable 10/15/14 @ 104.31 | 8.63 | 10/15/18 | 1,083 | ||||||||||||
2,000 | Case New Holland, Inc. (Machinery) | 7.88 | 12/1/17 | 2,360 | ||||||||||||
1,310 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 2/15/18 @ 102.56 | 5.13 | 2/15/23 | 1,215 | ||||||||||||
831 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 9/30/17 @ 102.63 | 5.25 | 9/30/22 | 776 | ||||||||||||
1,765 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 3/15/16 @ 103.94 (a) | 5.25 | 3/15/21 | 1,686 | ||||||||||||
720 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 3/1/18 @ 102.88 (a) | 5.75 | 9/1/23 | 682 | ||||||||||||
4,120 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 7/15/18 @ 102.88 | 5.75 | 1/15/24 | 3,892 | ||||||||||||
1,370 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 4/30/15 @ 104.88 | 6.50 | 4/30/21 | 1,408 |
See accompanying notes to financial statements.
126
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$773 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 1/31/17 @ 103.31 | 6.63 | 1/31/22 | $ | 796 | |||||||||||
725 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 1/15/14 @ 105.25 | 7.00 | 1/15/19 | 764 | ||||||||||||
1,960 | CenturyLink, Inc. (Diversified Telecommunication Services) | 5.63 | 4/1/20 | 1,994 | ||||||||||||
1,500 | CenturyLink, Inc., Series T (Diversified Telecommunication Services) | 5.80 | 3/15/22 | 1,481 | ||||||||||||
245 | CenturyLink, Inc. (Diversified Telecommunication Services) | 6.45 | 6/15/21 | 255 | ||||||||||||
1,250 | Cenveo Corp. (Commercial Services & Supplies), Callable 2/1/14 @ 104.44 | 8.88 | 2/1/18 | 1,250 | ||||||||||||
1,360 | Cenveo Corp. (Commercial Services & Supplies), Callable 5/15/15 @ 105.75 | 11.50 | 5/15/17 | 1,340 | ||||||||||||
6,945 | Cequel Communications Holdings I LLC/Cequel Capital Corp. (Diversified Telecommunication Services), Callable 9/15/15 @ 104.78 (a) | 6.38 | 9/15/20 | 7,119 | ||||||||||||
2,065 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 5.75 | 3/15/23 | 2,127 | ||||||||||||
220 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 6.13 | 2/15/21 | 236 | ||||||||||||
95 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 6.50 | 8/15/17 | 107 | ||||||||||||
500 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 6.63 | 8/15/20 | 559 | ||||||||||||
1,190 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 6.88 | 11/15/20 | 1,345 | ||||||||||||
185 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 7.25 | 12/15/18 | 214 | ||||||||||||
925 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 9.50 | 2/15/15 | 1,002 | ||||||||||||
1,450 | Chesapeake Midstream Partners LLC (Oil, Gas & Consumable Fuels), Callable 4/15/15 @ 104.41 | 5.88 | 4/15/21 | 1,544 | ||||||||||||
6,476 | CHS/Community Health Systems, Inc. (Health Care Providers & Services), Callable 7/15/16 @ 103.56 | 7.13 | 7/15/20 | 6,719 | ||||||||||||
1,905 | Cincinnati Bell, Inc. (Diversified Telecommunication Services), Callable 10/15/15 @ 104.19 | 8.38 | 10/15/20 | 2,062 | ||||||||||||
2,155 | CIT Group, Inc. (Diversified Financial Services) (a) | 4.75 | 2/15/15 | 2,233 | ||||||||||||
2,013 | CIT Group, Inc. (Diversified Financial Services) | 5.00 | 8/15/22 | 1,963 | ||||||||||||
1,080 | CIT Group, Inc. (Diversified Financial Services) | 5.25 | 3/15/18 | 1,158 | ||||||||||||
3,515 | CIT Group, Inc. (Diversified Financial Services) (a) | 6.63 | 4/1/18 | 3,950 | ||||||||||||
1,915 | Citigroup, Inc., Series D (Diversified Financial Services), Callable 5/15/23 @ 100.00, Perpetual Bond (b) | 5.35 | — | 1,685 | ||||||||||||
831 | Clayton Williams Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 4/1/15 @ 103.88 | 7.75 | 4/1/19 | 854 | ||||||||||||
2,077 | Clayton Williams Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 4/1/15 @ 103.88 (a) | 7.75 | 4/1/19 | 2,134 | ||||||||||||
515 | Clean Harbors, Inc. (Commercial Services & Supplies), Callable 12/1/16 @ 102.56 | 5.13 | 6/1/21 | 520 | ||||||||||||
280 | Clean Harbors, Inc. (Commercial Services & Supplies), Callable 8/1/16 @ 102.63 | 5.25 | 8/1/20 | 288 | ||||||||||||
760 | Clear Channel Worldwide Holdings, Inc., Series A (Media), Callable 11/15/17 @ 103.25 | 6.50 | 11/15/22 | 770 | ||||||||||||
3,506 | Clear Channel Worldwide Holdings, Inc., Series B (Media), Callable 11/15/17 @ 103.25 | 6.50 | 11/15/22 | 3,581 | ||||||||||||
710 | Cloud Peak Energy Resources LLC/Cloud Peak Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 12/15/14 @ 104.25 | 8.50 | 12/15/19 | 770 | ||||||||||||
3,693 | Commercial Metals Co. (Steel), Callable 2/15/23 @ 100.00 | 4.88 | 5/15/23 | 3,434 | ||||||||||||
500 | Consol Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 4/1/15 @ 104.13 | 8.25 | 4/1/20 | 541 | ||||||||||||
714 | Constellation Brands, Inc. (Distillers & Vintners) | 3.75 | 5/1/21 | 671 | ||||||||||||
2,395 | Constellation Brands, Inc. (Distillers & Vintners) | 4.25 | 5/1/23 | 2,233 | ||||||||||||
435 | Continental Airlines 2003-ERJ1 Pass-Through Trust, Series RJ03 (Airlines) | 7.88 | 1/2/20 | 469 | ||||||||||||
2,618 | Crown Castle International Corp. (Wireless Telecommunication Services) | 5.25 | 1/15/23 | 2,566 | ||||||||||||
5,658 | Delphi Corp. (Auto Components), Callable 2/15/18 @ 102.50 | 5.00 | 2/15/23 | 5,820 | ||||||||||||
133 | Delta Air Lines, Inc., Series 071C (Airlines) | 8.95 | 8/10/14 | 134 | ||||||||||||
1,017 | Denbury Resources, Inc. (Oil, Gas & Consumable Fuels), Callable 1/15/18 @ 102.31 | 4.63 | 7/15/23 | 918 | ||||||||||||
574 | DigitalGlobe, Inc. (Aerospace & Defense), Callable 2/1/17 @ 102.62 (a) | 5.25 | 2/1/21 | 560 | ||||||||||||
2,060 | DISH DBS Corp. (Media) | 4.25 | 4/1/18 | 2,101 | ||||||||||||
3,450 | DISH DBS Corp. (Media) | 5.00 | 3/15/23 | 3,217 | ||||||||||||
4,970 | DISH DBS Corp. (Media) | 5.88 | 7/15/22 | 4,969 | ||||||||||||
1,000 | DISH DBS Corp. (Media) | 6.75 | 6/1/21 | 1,060 | ||||||||||||
965 | DISH DBS Corp. (Media) | 7.88 | 9/1/19 | 1,105 | ||||||||||||
3,390 | DPL, Inc. (Multi-Utilities), Callable 7/15/21 @ 100.00 | 7.25 | 10/15/21 | 3,432 | ||||||||||||
145 | EchoStar DBS Corp. (Media) | 7.13 | 2/1/16 | 161 | ||||||||||||
45 | El Paso Natural Gas Co. (Oil, Gas & Consumable Fuels) | 8.63 | 1/15/22 | 57 |
See accompanying notes to financial statements.
127
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$3,819 | Equinix, Inc. (Internet Software & Services), Callable 4/1/17 @ 102.44 | 4.88 | 4/1/20 | $ | 3,800 | |||||||||||
581 | Equinix, Inc. (Internet Software & Services), Callable 4/1/18 @ 102.69 | 5.38 | 4/1/23 | 568 | ||||||||||||
2,350 | Equinix, Inc. (Internet Software & Services), Callable 7/15/16 @ 103.50 | 7.00 | 7/15/21 | 2,567 | ||||||||||||
495 | Exterran Holdings, Inc. (Energy Equipment & Services), Callable 2/7/14 @ 105.44 | 7.25 | 12/1/18 | 523 | ||||||||||||
5,108 | Exterran Partners LP (Energy Equipment & Services), Callable 4/1/17 @ 103.00 (a) | 6.00 | 4/1/21 | 5,070 | ||||||||||||
1,132 | Fidelity National Information Services, Inc. (IT Services), Callable 3/15/17 @ 102.50 | 5.00 | 3/15/22 | 1,156 | ||||||||||||
2,044 | Forest Oil Corp. (Oil, Gas & Consumable Fuels), Callable 2/7/14 @ 102.42 | 7.25 | 6/15/19 | 1,990 | ||||||||||||
1,887 | Frontier Communications Corp. (Diversified Telecommunication Services) | 8.13 | 10/1/18 | 2,156 | ||||||||||||
4,900 | Frontier Communications Corp. (Diversified Telecommunication Services) | 8.50 | 4/15/20 | 5,488 | ||||||||||||
1,000 | GCI, Inc. (Media), Callable 6/1/16 @ 103.38 | 6.75 | 6/1/21 | 958 | ||||||||||||
3,000 | GCI, Inc. (Media), Callable 11/15/14 @ 104.31 | 8.63 | 11/15/19 | 3,188 | ||||||||||||
4,589 | General Motors Financial Co. (Asset Management & Custody Banks) (a) | 4.25 | 5/15/23 | 4,365 | ||||||||||||
4,838 | Genesis Energy LP (Oil, Gas & Consumable Fuels), Callable 2/15/17 @ 102.88 | 5.75 | 2/15/21 | 4,892 | ||||||||||||
123 | Genesis Energy LP (Oil, Gas & Consumable Fuels), Callable 12/15/14 @ 103.94 | 7.88 | 12/15/18 | 133 | ||||||||||||
3,365 | GenOn Energy, Inc. (Multi-Utilities) | 9.50 | 10/15/18 | 3,811 | ||||||||||||
2,237 | Gibraltar Industries, Inc. (Building Products), Callable 2/1/17 @ 103.13 (c) | 6.25 | 2/1/21 | 2,299 | ||||||||||||
3,425 | GMAC, Inc. (Consumer Finance) | 8.00 | 11/1/31 | 4,097 | ||||||||||||
1,000 | Griffon Corp. (Building Products), Callable 4/1/14 @ 105.34 | 7.13 | 4/1/18 | 1,060 | ||||||||||||
5,715 | Hawk Acquisition Sub, Inc. (Food Products), Callable 4/15/15 @ 102.13 (a) | 4.25 | 10/15/20 | 5,529 | ||||||||||||
9,965 | HCA, Inc. (Health Care Providers & Services) | 5.88 | 3/15/22 | 10,289 | ||||||||||||
2,555 | HCA, Inc. (Health Care Providers & Services) | 6.50 | 2/15/20 | 2,807 | ||||||||||||
895 | HCA, Inc. (Health Care Providers & Services) | 7.50 | 2/15/22 | 982 | ||||||||||||
1,000 | HCA, Inc. (Health Care Providers & Services), Callable 11/15/15 @ 103.88 | 7.75 | 5/15/21 | 1,093 | ||||||||||||
5,250 | Health Management Associates, Inc. (Health Care Providers & Services), Callable 1/15/16 @ 103.69 | 7.38 | 1/15/20 | 5,873 | ||||||||||||
900 | Hilcorp Energy, Inc./Hilcorp Energy Co. (Oil, Gas & Consumable Fuels), Callable 10/1/15 @ 103.81 (a) | 7.63 | 4/15/21 | 977 | ||||||||||||
5,999 | Hilcorp Energy, Inc./Hilcorp Energy Co. (Oil, Gas & Consumable Fuels), Callable 2/15/15 @ 104.00 (a) | 8.00 | 2/15/20 | 6,494 | ||||||||||||
3,554 | Hornbeck Offshore Services, Inc. (Energy Equipment & Services), Callable 3/1/16 @ 103.75 | 5.00 | 3/1/21 | 3,483 | ||||||||||||
700 | Hughes Satellite Systems Corp. (Media) | 6.50 | 6/15/19 | 758 | ||||||||||||
1,275 | Hughes Satellite Systems Corp. (Media) | 7.63 | 6/15/21 | 1,422 | ||||||||||||
1,000 | Huntington Ingalls Industries (Aerospace & Defense), Callable 3/15/16 @ 103.56 | 7.13 | 3/15/21 | 1,098 | ||||||||||||
1,061 | IAC/InterActiveCorp (Internet Software & Services), Callable 12/15/17 @ 102.38 (a) | 4.75 | 12/15/22 | 989 | ||||||||||||
4,473 | IAC/InterActiveCorp (Internet Software & Services), Callable 11/30/14 @ 104.88 (a) | 4.88 | 11/30/18 | 4,551 | ||||||||||||
330 | ILFC E-Capital Trust ll (Diversified Financial Services) (a) | 6.25 | 12/21/65 | 312 | ||||||||||||
6,269 | Ingles Markets, Inc. (Food & Staples Retailing), Callable 6/15/18 @ 102.88 | 5.75 | 6/15/23 | 6,144 | ||||||||||||
224 | International Lease Finance Corp. (Diversified Financial Services) | 4.63 | 4/15/21 | 214 | ||||||||||||
1,731 | International Lease Finance Corp. (Diversified Financial Services) | 5.88 | 8/15/22 | 1,727 | ||||||||||||
3,055 | International Lease Finance Corp. (Diversified Financial Services) | 5.88 | 4/1/19 | 3,254 | ||||||||||||
1,125 | International Lease Finance Corp. (Diversified Financial Services) | 6.25 | 5/15/19 | 1,218 | ||||||||||||
1,800 | Iron Mountain, Inc. (Commercial Services & Supplies), Callable 8/15/17 @ 102.88 | 5.75 | 8/15/24 | 1,669 | ||||||||||||
980 | Iron Mountain, Inc. (Commercial Services & Supplies), Callable 10/1/15 @ 103.88 | 7.75 | 10/1/19 | 1,093 | ||||||||||||
1,100 | J.B. Poindexter & Co., Inc. (Machinery), Callable 4/1/17 @ 104.50 (a) | 9.00 | 4/1/22 | 1,174 | ||||||||||||
995 | Jarden Corp. (Household Durables), Callable 1/15/15 @ 103.75 | 7.50 | 1/15/20 | 1,075 | ||||||||||||
8,000 | JBS USA LLC/JBS USA Finance, Inc. (Food Products), Callable 6/1/15 @ 105.44 (a) | 7.25 | 6/1/21 | 8,340 | ||||||||||||
280 | Jefferies LoanCore LLC/Jefferies Finance LLC (Asset Management & Custody Banks), Callable 6/1/16 @ 105.16 (a) | 6.88 | 6/1/20 | 277 | ||||||||||||
2,622 | JMC Steel Group, Inc. (Metals & Mining), Callable 3/15/14 @ 106.19 (a) | 8.25 | 3/15/18 | 2,648 | ||||||||||||
1,972 | KB Home (Household Durables), Callable 9/15/21 @ 100.00 | 7.00 | 12/15/21 | 2,056 | ||||||||||||
440 | KB Home (Household Durables) | 7.50 | 9/15/22 | 463 | ||||||||||||
2,553 | Key Energy Services, Inc. (Energy Equipment & Services), Callable 3/1/16 @ 103.38 | 6.75 | 3/1/21 | 2,617 | ||||||||||||
3,750 | Kindred Healthcare, Inc. (Health Care Providers & Services), Callable 6/1/14 @ 106.19 | 8.25 | 6/1/19 | 3,994 |
See accompanying notes to financial statements.
128
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$1,000 | Koppers, Inc. (Chemicals), Callable 12/1/14 @ 103.94 | 7.88 | 12/1/19 | $ | 1,080 | |||||||||||
3,200 | Lamar Media Corp. (Media), Callable 2/1/17 @ 102.94 | 5.88 | 2/1/22 | 3,280 | ||||||||||||
1,000 | Lamar Media Corp. (Media), Callable 4/15/14 @ 103.94 | 7.88 | 4/15/18 | 1,056 | ||||||||||||
3,568 | Libbey Glass, Inc. (Household Durables), Callable 5/15/15 @ 105.16 | 6.88 | 5/15/20 | 3,853 | ||||||||||||
3,987 | Limited Brands, Inc. (Specialty Retail) | 5.63 | 2/15/22 | 4,076 | ||||||||||||
500 | Limited Brands, Inc. (Specialty Retail) | 6.63 | 4/1/21 | 549 | ||||||||||||
150 | Limited Brands, Inc. (Specialty Retail) | 6.95 | 3/1/33 | 148 | ||||||||||||
570 | Limited Brands, Inc. (Specialty Retail) | 7.00 | 5/1/20 | 640 | ||||||||||||
760 | Linn Energy LLC/Linn Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 11/1/15 @ 103.13 (a) | 6.25 | 11/1/19 | 768 | ||||||||||||
2,855 | Linn Energy LLC/Linn Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 5/15/15 @ 103.25 | 6.50 | 5/15/19 | 2,912 | ||||||||||||
6,488 | Linn Energy LLC/Linn Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 4/15/15 @ 104.31 | 8.63 | 4/15/20 | 7,006 | ||||||||||||
3,660 | LKQ Corp. (Distributors), Callable 5/15/18 @ 102.38 (a) | 4.75 | 5/15/23 | 3,404 | ||||||||||||
1,134 | Lynx I Corp. (Communications Equipment), Callable 4/15/17 @ 102.69 (a) | 5.38 | 4/15/21 | 1,134 | ||||||||||||
1,100 | Lynx II Corp. (Communications Equipment), Callable 4/15/18 @ 103.19 | 6.38 | 4/15/23 | 1,119 | ||||||||||||
580 | Markwest Energy Partners LP/MarkWest Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 12/15/16 @ 103.12 | 6.25 | 6/15/22 | 613 | ||||||||||||
3,965 | Martin Midstream Partners LP/Martin Midstream Finance Corp. (Air Freight & Logistics), Callable 2/15/17 @ 103.63 | 7.25 | 2/15/21 | 4,044 | ||||||||||||
2,246 | MedImpact Holdings, Inc. (Health Care Providers & Services), Callable 2/1/15 @ 105.25 (a) | 10.50 | 2/1/18 | 2,465 | ||||||||||||
3,919 | Meritage Homes Corp. (Household Durables) (a) | 7.15 | 4/15/20 | 4,233 | ||||||||||||
1,575 | Meritage Homes Corp. (Household Durables) | 7.15 | 4/15/20 | 1,701 | ||||||||||||
2,723 | MetroPCS Wireless, Inc. (Communications Equipment), Callable 4/1/17 @ 103.13 (a) | 6.25 | 4/1/21 | 2,825 | ||||||||||||
1,305 | MetroPCS Wireless, Inc. (Communications Equipment), Callable 4/1/18 @ 103.31 (a) | 6.63 | 4/1/23 | 1,347 | ||||||||||||
12,187 | MGM Resorts International (Casinos & Gaming) | 5.25 | 3/31/20 | 12,096 | ||||||||||||
2,400 | MidContinent Express Pipeline LLC (Oil & Gas Storage & Transportation) (a) | 6.70 | 9/15/19 | 2,340 | ||||||||||||
4,967 | MPT Operating Partnership LP/MPT Finance Corp. (Real Estate Investment Trusts), Callable 2/15/17 @ 103.19 | 6.38 | 2/15/22 | 5,140 | ||||||||||||
1,615 | MPT Operating Partnership LP/MPT Finance Corp. (Real Estate Investment Trusts), Callable 5/1/16 @ 103.44 | 6.88 | 5/1/21 | 1,728 | ||||||||||||
5,850 | Newfield Exploration Co. (Oil, Gas & Consumable Fuels), Callable 2/1/15 @ 103.44 | 6.88 | 2/1/20 | 6,267 | ||||||||||||
3,184 | NGL Energy Partners LP (Oil, Gas & Consumable Fuels), Callable 10/15/16 @ 105.16 (a) | 6.88 | 10/15/21 | 3,264 | ||||||||||||
3,012 | Nielsen Finance LLC/Nielsen Finance Co. (Software), Callable 10/1/16 @ 102.25 | 4.50 | 10/1/20 | 2,929 | ||||||||||||
3,804 | Niska Gas Storage US LLC/Niska Gas Storage Canada ULC (Oil, Gas & Consumable Fuels), Callable 3/15/14 @ 104.44 | 8.88 | 3/15/18 | 3,956 | ||||||||||||
3,500 | NRG Energy, Inc. (Independent Power Producers & Energy Traders), Callable 5/15/16 @ 103.94 | 7.88 | 5/15/21 | 3,876 | ||||||||||||
3,405 | NRG Energy, Inc. (Independent Power Producers & Energy Traders), Callable 9/1/15 @ 104.13 | 8.25 | 9/1/20 | 3,771 | ||||||||||||
2,556 | Nuance Communications, Inc. (Software), Callable 8/15/16 @ 102.69 (a) | 5.38 | 8/15/20 | 2,498 | ||||||||||||
3,899 | Oasis Petroleum, Inc. (Oil, Gas & Consumable Fuels), Callable 9/15/17 @ 103.44 (a) | 6.88 | 3/15/22 | 4,133 | ||||||||||||
860 | Oasis Petroleum, Inc. (Oil, Gas & Consumable Fuels), Callable 7/15/17 @ 103.44 | 6.88 | 1/15/23 | 916 | ||||||||||||
2,000 | Omega Healthcare Investors, Inc. (Real Estate Investment Trusts), Callable 10/15/15 @ 103.38 | 6.75 | 10/15/22 | 2,173 | ||||||||||||
1,000 | Omega Healthcare Investors, Inc. (Real Estate Investment Trusts), Callable 2/15/15 @ 103.75 | 7.50 | 2/15/20 | 1,090 | ||||||||||||
743 | Omnicare, Inc. (Health Care Providers & Services), Callable 6/1/15 @ 103.88 | 7.75 | 6/1/20 | 823 | ||||||||||||
400 | Oriental Republic of Uruguay (Sovereign) | 7.88 | 1/15/33 | 491 | ||||||||||||
5,489 | Peabody Energy Corp. (Oil, Gas & Consumable Fuels) | 6.00 | 11/15/18 | 5,846 | ||||||||||||
2,390 | Peabody Energy Corp. (Oil, Gas & Consumable Fuels) | 6.25 | 11/15/21 | 2,414 | ||||||||||||
100 | Pemex Proj FDG Master TR (Energy Equipment & Services) | 5.75 | 3/1/18 | 112 | ||||||||||||
1,502 | Penske Auto Group, Inc. (Automotive Retail), Callable 10/1/17 @ 102.88 | 5.75 | 10/1/22 | 1,536 | ||||||||||||
765 | PetroQuest Energy, Inc. (Oil & Gas Exploration & Production), Callable 9/1/14 @ 105.00 | 10.00 | 9/1/17 | 794 |
See accompanying notes to financial statements.
129
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$2,386 | PHH Corp. (Diversified Financial Services), Callable 8/15/17 @ 103.19 | 6.38 | 8/15/21 | $ | 2,386 | |||||||||||
7,110 | PHH Corp. (Diversified Financial Services) | 7.38 | 9/1/19 | 7,589 | ||||||||||||
805 | Pioneer Drilling Co. (Energy Equipment & Services), Callable 3/15/14 @ 104.94 | 9.88 | 3/15/18 | 853 | ||||||||||||
1,250 | Plains Exploration & Production Co. (Oil, Gas & Consumable Fuels), Callable 6/15/16 @ 103.06 | 6.13 | 6/15/19 | 1,367 | ||||||||||||
1,625 | Plains Exploration & Production Co. (Oil, Gas & Consumable Fuels), Callable 5/1/16 @ 103.31 | 6.63 | 5/1/21 | 1,782 | ||||||||||||
5,919 | Plains Exploration & Production Co. (Oil, Gas & Consumable Fuels), Callable 2/15/18 @ 103.44 | 6.88 | 2/15/23 | 6,599 | ||||||||||||
385 | Plains Exploration & Production Co. (Oil, Gas & Consumable Fuels), Callable 10/15/14 @ 104.81 | 8.63 | 10/15/19 | 422 | ||||||||||||
3,973 | PolyOne Corp. (Chemicals) | 5.25 | 3/15/23 | 3,874 | ||||||||||||
7,670 | Post Holdings, Inc. (Food Products), Callable 2/15/17 @ 103.69 | 7.38 | 2/15/22 | 8,207 | ||||||||||||
2,595 | Post Holdings, Inc. (Food Products), Callable 2/15/17 @ 103.69 (a) | 7.38 | 2/15/22 | 2,777 | ||||||||||||
460 | Provident Funding Associates LP/PFG Finance Corp. (Diversified Financial Services), Callable 6/15/16 @ 105.06 (a) | 6.75 | 6/15/21 | 458 | ||||||||||||
1,916 | QEP Resources, Inc. (Oil & Gas Exploration & Production) | 6.80 | 3/1/20 | 2,008 | ||||||||||||
500 | R.R. Donnelley & Sons Co. (Commercial Services & Supplies) | 8.25 | 3/15/19 | 573 | ||||||||||||
1,845 | Range Resources Corp. (Oil, Gas & Consumable Fuels), Callable 2/15/17 @ 102.50 | 5.00 | 8/15/22 | 1,813 | ||||||||||||
1,100 | Regency Energy Partners LP (Oil, Gas & Consumable Fuels), Callable 7/15/16 @ 103.25 | 6.50 | 7/15/21 | 1,166 | ||||||||||||
184 | Res-Care, Inc. (Health Care Providers & Services), Callable 1/15/15 @ 105.38 | 10.75 | 1/15/19 | 206 | ||||||||||||
2,700 | Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC (Household Durables), Callable 8/15/15 @ 103.94 | 7.88 | 8/15/19 | 2,984 | ||||||||||||
1,042 | Rockies Express Pipeline LLC (Oil, Gas & Consumable Fuels) (a) | 6.00 | 1/15/19 | 964 | ||||||||||||
750 | RRI Energy, Inc. (Independent Power Producers & Energy Traders) | 7.88 | 6/15/17 | 825 | ||||||||||||
4,181 | RSI Home Products, Inc. (Household Durables), Callable 3/1/15 @ 105.16 (a) | 6.88 | 3/1/18 | 4,379 | ||||||||||||
960 | Sabine Pass Liquefaction LLC (Oil, Gas & Consumable Fuels) (a) | 5.63 | 4/15/23 | 898 | ||||||||||||
5,231 | Sabine Pass Liquefaction LLC (Oil, Gas & Consumable Fuels) (a) | 5.63 | 2/1/21 | 5,113 | ||||||||||||
3,265 | Sabine Pass LNG LP (Oil, Gas & Consumable Fuels), Callable 11/1/16 @ 103.25 | 6.50 | 11/1/20 | 3,387 | ||||||||||||
632 | Sabre, Inc. (Leisure Equipment & Products), Callable 5/15/15 @ 106.38 (a) | 8.50 | 5/15/19 | 702 | ||||||||||||
1,038 | Salix Pharmaceuticals Ltd. (Pharmaceuticals), Callable 1/15/17 @ 104.50 (a) | 6.00 | 1/15/21 | 1,064 | ||||||||||||
2,535 | SandRidge Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 3/15/16 @ 103.75 | 7.50 | 3/15/21 | 2,655 | ||||||||||||
1,135 | SandRidge Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 4/15/17 @ 104.06 | 8.13 | 10/15/22 | 1,203 | ||||||||||||
1,680 | SandRidge Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 1/15/15 @ 104.38 | 8.75 | 1/15/20 | 1,810 | ||||||||||||
1,210 | SBA Telecommunications Corp. (Communications Equipment), Callable 7/15/16 @ 102.88 | 5.75 | 7/15/20 | 1,258 | ||||||||||||
6,675 | Select Medical Corp. (Health Care Providers & Services), Callable 6/1/16 @ 104.78 | 6.38 | 6/1/21 | 6,525 | ||||||||||||
3,036 | SemGroup LP (Oil & Gas Storage & Transportation), Callable 6/15/16 @ 105.63 (a) | 7.50 | 6/15/21 | 3,211 | ||||||||||||
1,000 | Service Corp. International (Diversified Consumer Services), Callable 7/15/17 @ 102.69 (a) | 5.38 | 1/15/22 | 1,013 | ||||||||||||
1,750 | Service Corp. International (Diversified Consumer Services) | 7.00 | 6/15/17 | 1,960 | ||||||||||||
700 | Service Corp. International (Diversified Consumer Services) | 8.00 | 11/15/21 | 803 | ||||||||||||
2,609 | SESI LLC (Oil & Gas Equipment & Services), Callable 12/15/16 @ 103.56 | 7.13 | 12/15/21 | 2,909 | ||||||||||||
228 | Sinclair Television Group, Inc. (Media), Callable 4/1/16 @ 104.04 | 5.38 | 4/1/21 | 225 | ||||||||||||
2,773 | Sinclair Television Group, Inc. (Media), Callable 10/1/17 @ 103.06 | 6.13 | 10/1/22 | 2,801 | ||||||||||||
1,600 | Sinclair Television Group, Inc. (Media), Callable 11/1/16 @ 104.78 (a) | 6.38 | 11/1/21 | 1,656 | ||||||||||||
2,714 | Sirius XM Radio, Inc. (Media), Callable 5/1/16 @ 102.13 (a) | 4.25 | 5/15/20 | 2,565 | ||||||||||||
1,655 | Sirius XM Radio, Inc. (Media), Callable 8/15/17 @ 102.63 (a) | 5.25 | 8/15/22 | 1,672 | ||||||||||||
352 | Sirius XM Radio, Inc. (Media), Callable 10/1/16 @ 102.94 (a) | 5.88 | 10/1/20 | 359 | ||||||||||||
10,998 | SLM Corp. (Consumer Finance) | 5.50 | 1/15/19 | 11,413 | ||||||||||||
2,000 | SLM Corp., MTN (Consumer Finance) | 6.25 | 1/25/16 | 2,160 | ||||||||||||
5,971 | Smithfield Foods, Inc. (Food Products), Callable 8/15/17 @ 103.31 | 6.63 | 8/15/22 | 6,329 | ||||||||||||
2,075 | Sprint Capital Corp. (Wireless Telecommunication Services) | 6.88 | 11/15/28 | 1,956 | ||||||||||||
3,780 | Sprint Capital Corp. (Wireless Telecommunication Services) | 6.90 | 5/1/19 | 4,130 | ||||||||||||
1,830 | Sprint Capital Corp. (Wireless Telecommunication Services) | 8.75 | 3/15/32 | 1,963 |
See accompanying notes to financial statements.
130
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The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$1,899 | Sprint Nextel Corp. (Wireless Telecommunication Services) | 6.00 | 11/15/22 | $ | 1,852 | |||||||||||
1,960 | Sprint Nextel Corp. (Wireless Telecommunication Services) (a) | 7.00 | 3/1/20 | 2,185 | ||||||||||||
1,410 | Sprint Nextel Corp. (Wireless Telecommunication Services) | 7.00 | 8/15/20 | 1,526 | ||||||||||||
1,100 | Sprint Nextel Corp. (Wireless Telecommunication Services) | 8.38 | 8/15/17 | 1,273 | ||||||||||||
1,665 | Sprint Nextel Corp. (Wireless Telecommunication Services) (a) | 9.00 | 11/15/18 | 2,006 | ||||||||||||
735 | Sprint Nextel Corp. (Wireless Telecommunication Services) | 11.50 | 11/15/21 | 963 | ||||||||||||
730 | Steel Dynamics, Inc. (Metals & Mining), Callable 4/15/18 @ 102.63 | 5.25 | 4/15/23 | 730 | ||||||||||||
1,000 | Steel Dynamics, Inc. (Metals & Mining), Callable 8/15/17 @ 103.19 | 6.38 | 8/15/22 | 1,080 | ||||||||||||
2,000 | Stewart Enterprises, Inc. (Diversified Consumer Services), Callable 4/15/14 @ 104.88 | 6.50 | 4/15/19 | 2,120 | ||||||||||||
3,444 | StoneMor Partners LP (Human Resource & Employment Services), Callable 6/1/16 @ 105.91 (a) | 7.88 | 6/1/21 | 3,582 | ||||||||||||
192 | Sun Merger Sub, Inc. (Food Products), Callable 8/1/15 @ 102.00 (a) | 5.25 | 8/1/18 | 201 | ||||||||||||
1,127 | Targa Resources Partners LP (Oil, Gas & Consumable Fuels), Callable 2/1/17 @ 103.19 | 6.38 | 8/1/22 | 1,192 | ||||||||||||
3,830 | Taylor Morrison Communities, Inc. (Homebuilding), Callable 4/15/16 @ 103.94 (a) | 5.25 | 4/15/21 | 3,725 | ||||||||||||
13,788 | Tenet Healthcare Corp. (Health Care Providers & Services) (a) | 6.00 | 10/1/20 | 14,391 | ||||||||||||
2,125 | Tenneco, Inc. (Auto Components), Callable 8/15/14 @ 103.88 | 7.75 | 8/15/18 | 2,274 | ||||||||||||
90 | Tennessee Gas Pipeline Co. (Oil, Gas & Consumable Fuels) | 8.00 | 2/1/16 | 102 | ||||||||||||
2,350 | Tesoro Logistics LP/Tesoro Logistics Corp. (Oil, Gas & Consumable Fuels), Callable 10/1/16 @ 102.94 | 5.88 | 10/1/20 | 2,403 | ||||||||||||
580 | Tesoro Logistics LP/Tesoro Logistics Corp. (Oil, Gas & Consumable Fuels), Callable 10/15/16 @ 104.59 | 6.13 | 10/15/21 | 597 | ||||||||||||
3,897 | The ADT Corp. (Commercial Services & Supplies) (a) | 6.25 | 10/15/21 | 4,092 | ||||||||||||
6,650 | The AES Corp. (Independent Power Producers & Energy Traders), Callable 6/1/21 @ 100.00 | 7.38 | 7/1/21 | 7,497 | ||||||||||||
34 | The AES Corp. (Independent Power Producers & Energy Traders) | 7.75 | 10/15/15 | 38 | ||||||||||||
250 | The AES Corp. (Independent Power Producers & Energy Traders) | 8.00 | 6/1/20 | 293 | ||||||||||||
2,196 | The Goodyear Tire & Rubber Co. (Auto Components), Callable 3/1/16 @ 104.88 | 6.50 | 3/1/21 | 2,328 | ||||||||||||
2,900 | The Goodyear Tire & Rubber Co. (Auto Components) | 8.75 | 8/15/20 | 3,393 | ||||||||||||
5,132 | Titan International, Inc. (Machinery), Callable 10/1/16 @ 105.16 (a) | 6.88 | 10/1/20 | 5,350 | ||||||||||||
163 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 9/1/15 @ 102.63 (a) | 5.25 | 9/1/18 | 172 | ||||||||||||
884 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 1/15/18 @ 103.06 | 6.13 | 1/15/22 | 899 | ||||||||||||
8,064 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 4/28/16 @ 103.27 | 6.54 | 4/28/20 | 8,567 | ||||||||||||
362 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 4/28/18 @ 103.42 | 6.84 | 4/28/23 | 376 | ||||||||||||
268 | Tomkins LLC/Tomkins, Inc. (Machinery), Callable 10/1/14 @ 104.50 | 9.00 | 10/1/18 | 293 | ||||||||||||
1,085 | TransDigm Group, Inc. (Aerospace & Defense), Callable 7/15/16 @ 105.62 | 7.50 | 7/15/21 | 1,166 | ||||||||||||
1,700 | TransDigm Group, Inc. (Aerospace & Defense), Callable 12/15/14 @ 103.88 | 7.75 | 12/15/18 | 1,823 | ||||||||||||
1,320 | TRW Automotive, Inc. (Auto Components) (a) | 4.50 | 3/1/21 | 1,333 | ||||||||||||
250 | Tutor Perini Corp. (Construction & Engineering), Callable 11/1/14 @ 103.81 | 7.63 | 11/1/18 | 268 | ||||||||||||
1,765 | TW Telecom Holdings, Inc. (Communications Equipment), Callable 10/1/17 @ 102.69 | 5.38 | 10/1/22 | 1,734 | ||||||||||||
1,215 | United Rentals NA, Inc. (IT Services), Callable 7/15/15 @ 102.88 | 5.75 | 7/15/18 | 1,299 | ||||||||||||
520 | United Rentals NA, Inc. (IT Services), Callable 5/15/16 @ 103.69 | 7.38 | 5/15/20 | 577 | ||||||||||||
3,660 | United Rentals NA, Inc. (IT Services), Callable 4/15/17 @ 103.81 | 7.63 | 4/15/22 | 4,066 | ||||||||||||
3,470 | Universal Hospital Services, Inc. (Health Care Equipment & Supplies), Callable 8/15/15 @ 105.72 | 7.63 | 8/15/20 | 3,661 | ||||||||||||
1,255 | Valassis Communications, Inc. (Media), Callable 2/1/16 @ 103.31 | 6.63 | 2/1/21 | 1,294 | ||||||||||||
1,038 | Valeant Pharmaceuticals International, Inc. (Pharmaceuticals), Callable 10/15/16 @ 103.19 (a) | 6.38 | 10/15/20 | 1,093 | ||||||||||||
908 | Valeant Pharmaceuticals International, Inc. (Pharmaceuticals), Callable 1/2/14 @ 103.25 (a) | 6.50 | 7/15/16 | 938 | ||||||||||||
4,778 | ViaSat, Inc. (Communications Equipment), Callable 6/15/16 @ 103.44 | 6.88 | 6/15/20 | 5,054 | ||||||||||||
3,967 | Visteon Corp. (Auto Components), Callable 4/15/14 @ 105.06 | 6.75 | 4/15/19 | 4,215 | ||||||||||||
1,106 | Vulcan Materials Co. (Construction & Engineering) | 7.50 | 6/15/21 | 1,260 | ||||||||||||
490 | Weekley Homes LLC (Construction & Engineering), Callable 2/1/17 @ 104.50 (a) | 6.00 | 2/1/23 | 473 | ||||||||||||
2,480 | West Corp. (Diversified Telecommunication Services), Callable 11/15/14 @ 103.94 | 7.88 | 1/15/19 | 2,678 | ||||||||||||
662 | West Corp. (Diversified Telecommunication Services), Callable 10/1/14 @ 104.31 | 8.63 | 10/1/18 | 720 |
See accompanying notes to financial statements.
131
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$3,439 | Whiting Petroleum Corp. (Oil & Gas Exploration & Production), Callable 12/15/18 @ 100.00 | 5.00 | 3/15/19 | $ | 3,516 | |||||||||||
3,556 | Whiting Petroleum Corp. (Oil & Gas Exploration & Production), Callable 12/15/20 @ 100.00 | 5.75 | 3/15/21 | 3,681 | ||||||||||||
615 | Windstream Corp. (Diversified Telecommunication Services), Callable 2/1/18 @ 103.19 | 6.38 | 8/1/23 | 575 | ||||||||||||
533 | Windstream Corp. (Diversified Telecommunication Services), Callable 4/1/16 @ 103.75 | 7.50 | 4/1/23 | 536 | ||||||||||||
1,355 | Windstream Corp. (Diversified Telecommunication Services), Callable 6/1/17 @ 103.75 | 7.50 | 6/1/22 | 1,385 | ||||||||||||
600 | Windstream Corp. (Diversified Telecommunication Services), Callable 10/15/15 @ 103.88 | 7.75 | 10/15/20 | 637 | ||||||||||||
4,750 | Windstream Corp. (Diversified Telecommunication Services) | 7.88 | 11/1/17 | 5,427 | ||||||||||||
Total Corporate Bonds | 698,173 | |||||||||||||||
Yankee Dollars — 19.66% | ||||||||||||||||
292 | Aircastle Ltd. (Trading Companies & Distributors) | 6.25 | 12/1/19 | 313 | ||||||||||||
50 | Aircastle Ltd. (Trading Companies & Distributors) | 6.75 | 4/15/17 | 56 | ||||||||||||
1,730 | Aircastle Ltd. (Trading Companies & Distributors) | 7.63 | 4/15/20 | 1,942 | ||||||||||||
705 | Aircastle Ltd. (Trading Companies & Distributors), Callable 8/1/14 @ 104.88 | 9.75 | 8/1/18 | 770 | ||||||||||||
4,817 | Albea Beauty Holdings SA (Personal Products), Callable 11/1/15 @ 106.28 (a) | 8.38 | 11/1/19 | 5,010 | ||||||||||||
215 | Arab Republic of Egypt – Registered (Sovereign) | 5.75 | 4/29/20 | 204 | ||||||||||||
3,375 | ArcelorMittal (Metals & Mining) | 5.75 | 8/5/20 | 3,586 | ||||||||||||
400 | ArcelorMittal (Metals & Mining) | 6.13 | 6/1/18 | 439 | ||||||||||||
150 | Banco del Estado de Chile (Commercial Banks) (a) | 4.13 | 10/7/20 | 152 | ||||||||||||
250 | Banco Nacional de Desenvolvimento Economico e Social – Registered (Sovereign) | 6.50 | 6/10/19 | 271 | ||||||||||||
330 | Bank of Ceylon (Commercial Banks) | 6.88 | 5/3/17 | 331 | ||||||||||||
2,792 | Barrick Gold Corp. (Metals & Mining) | 4.10 | 5/1/23 | 2,524 | ||||||||||||
5,540 | Barry Callebaut Services NV (Food Products) (a) | 5.50 | 6/15/23 | 5,651 | ||||||||||||
200 | Bolivia Government – Registered (Sovereign) | 5.95 | 8/22/23 | 197 | ||||||||||||
1,180 | Bombardier, Inc. (Aerospace & Defense) (a) | 5.75 | 3/15/22 | 1,171 | ||||||||||||
2,613 | Bombardier, Inc. (Aerospace & Defense) (a) | 6.13 | 1/15/23 | 2,593 | ||||||||||||
1,974 | Bombardier, Inc. (Aerospace & Defense) (a) | 7.75 | 3/15/20 | 2,240 | ||||||||||||
150 | Caixa Economica Federal – Registered (Commercial Banks) | 4.50 | 10/3/18 | 149 | ||||||||||||
1,600 | Calcipar SA (Construction Materials), Callable 5/1/15 @ 103.44 (a) | 6.88 | 5/1/18 | 1,696 | ||||||||||||
1,500 | Cascades, Inc. (Paper Products), Callable 1/15/15 @ 103.94 | 7.88 | 1/15/20 | 1,605 | ||||||||||||
547 | CHC Helicopter SA (Oil & Gas Storage & Transportation), Callable 6/1/16 @ 107.03 | 9.38 | 6/1/21 | 561 | ||||||||||||
815 | CODELCO – Registered (Metals & Mining) | 4.50 | 8/13/23 | 811 | ||||||||||||
2,107 | Cogeco Cable, Inc. (Cable & Satellite), Callable 5/1/16 @ 103.66 (a) | 4.88 | 5/1/20 | 2,033 | ||||||||||||
345 | Costa Rica Government – Registered (Sovereign) | 4.38 | 4/30/25 | 304 | ||||||||||||
270 | Development Bank of Kazakhstan JSC – Registered (Commercial Banks) | 4.13 | 12/10/22 | 241 | ||||||||||||
400 | Dominican Republic – Registered (Sovereign) | 6.60 | 1/28/24 | 402 | ||||||||||||
5,702 | Drill Rigs Holdings, Inc. (Oil, Gas & Consumable Fuels), Callable 10/1/15 @ 103.25 (a) | 6.50 | 10/1/17 | 6,158 | ||||||||||||
300 | Eskom Holdings Ltd. (Utilities) | 5.75 | 1/26/21 | 298 | ||||||||||||
5,810 | Expro Finance Luxembourg SCA (Oil, Gas & Consumable Fuels), Callable 2/7/14 @ 104.25 (a) | 8.50 | 12/15/16 | 6,057 | ||||||||||||
215 | Fairfax Financial Holdings Ltd. (Insurance) | 7.38 | 4/15/18 | 241 | ||||||||||||
771 | Federative Republic of Brazil (Sovereign) | 2.63 | 1/5/23 | 663 | ||||||||||||
515 | Federative Republic of Brazil (Sovereign) | 5.63 | 1/7/41 | 500 | ||||||||||||
484 | Federative Republic of Brazil (Sovereign), Callable 8/17/15 @ 100.00 | 11.00 | 8/17/40 | 549 | ||||||||||||
205 | FMG Resources (August 2006) Pty Ltd. (Metals & Mining), Callable 2/1/14 @ 105.16 (a) | 6.88 | 2/1/18 | 216 | ||||||||||||
1,525 | FMG Resources (August 2006) Pty Ltd. (Metals & Mining), Callable 4/1/17 @ 103.44 (a) | 6.88 | 4/1/22 | 1,662 | ||||||||||||
5,245 | FMG Resources (August 2006) Pty Ltd. (Metals & Mining), Callable 11/1/15 @ 104.13 (a) | 8.25 | 11/1/19 | 5,888 | ||||||||||||
135 | Gabonese Republic – Registered (Sovereign) | 8.20 | 12/12/17 | 156 | ||||||||||||
1,814 | Gibson Energy, Inc. (Oil & Gas Storage & Transportation), Callable 7/15/16 @ 105.06 (a) | 6.75 | 7/15/21 | 1,918 | ||||||||||||
190 | Government of Jamaica (Sovereign) | 8.00 | 6/24/19 | 184 | ||||||||||||
4,154 | HudBay Minerals, Inc. (Metals & Mining), Callable 10/1/16 @ 104.75 | 9.50 | 10/1/20 | 4,268 |
See accompanying notes to financial statements.
132
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Yankee Dollars (continued) | ||||||||||||||||
$6,065 | Intelsat Jackson Holdings SA (Diversified Telecommunication Services), Callable 8/1/18 @ 102.75 (a) | 5.50 | 8/1/23 | $ | 5,770 | |||||||||||
2,145 | Intelsat Jackson Holdings SA (Diversified Telecommunication Services), Callable 10/15/15 @ 103.63 | 7.25 | 10/15/20 | 2,346 | ||||||||||||
2,150 | Intelsat Jackson Holdings SA (Diversified Telecommunication Services), Callable 4/1/16 @ 103.75 | 7.50 | 4/1/21 | 2,370 | ||||||||||||
3,224 | Intergen NV (Independent Power Producers & Energy Traders), Callable 6/30/18 @ 103.50 (a) | 7.00 | 6/30/23 | 3,337 | ||||||||||||
100 | Islamic Republic of Pakistan (Sovereign) | 6.88 | 6/1/17 | 98 | ||||||||||||
200 | Kazakhstan Temir Zholy – Registered (Oil & Gas Exploration & Production) | 6.95 | 7/10/42 | 199 | ||||||||||||
170 | KazMunayGas National Co. – Registered (Oil & Gas Exploration & Production) | 5.75 | 4/30/43 | 147 | ||||||||||||
300 | KazMunayGas National Co. – Registered (Oil & Gas Exploration & Production) | 6.38 | 4/9/21 | 326 | ||||||||||||
350 | KazMunayGas National Co. – Registered (Oil & Gas Exploration & Production) | 9.13 | 7/2/18 | 424 | ||||||||||||
600 | Kingdom of Morocco – Registered (Sovereign) | 4.25 | 12/11/22 | 555 | ||||||||||||
541 | Lebanese Republic, Series G (Sovereign) | 6.38 | 3/9/20 | 553 | ||||||||||||
2,700 | LyondellBasell Industries NV (Chemicals), Callable 8/17/21 @ 100.00 | 6.00 | 11/15/21 | 3,105 | ||||||||||||
200 | Majapahit Holding BV – Registered (Diversified Financial Services) | 7.88 | 6/29/37 | 208 | ||||||||||||
3,691 | MEG Energy Corp. (Oil, Gas & Consumable Fuels), Callable 7/30/17 @ 103.19 (a) | 6.38 | 1/30/23 | 3,714 | ||||||||||||
2,400 | MEG Energy Corp. (Oil, Gas & Consumable Fuels), Callable 3/15/15 @ 104.88 (a) | 6.50 | 3/15/21 | 2,526 | ||||||||||||
1,000 | MEG Energy Corp. (Oil, Gas & Consumable Fuels), Callable 9/30/18 @ 103.50 (a) | 7.00 | 3/31/24 | 1,013 | ||||||||||||
270 | Mongolia International Bond – Registered (Sovereign) | 5.13 | 12/5/22 | 225 | ||||||||||||
1,555 | Novelis, Inc. (Metals & Mining), Callable 2/7/14 @ 106.28 | 8.38 | 12/15/17 | 1,660 | ||||||||||||
200 | OJSC Russian Agricultural Bank (RSHB) – Registered (Commercial Banks) | 5.30 | 12/17/17 | 206 | ||||||||||||
280 | Oriental Republic of Uruguay (Sovereign) | 4.13 | 11/20/45 | 216 | ||||||||||||
6,348 | Pacific Drilling SA (Oil, Gas & Consumable Fuels), Callable 6/1/16 @ 104.03 (a) | 5.38 | 6/1/20 | 6,379 | ||||||||||||
2,521 | Pacific Drilling V Ltd. (Oil, Gas & Consumable Fuels), Callable 12/1/15 @ 103.63 (a) | 7.25 | 12/1/17 | 2,723 | ||||||||||||
520 | Penerbangan Malaysia Berhad (Aerospace & Defense) (a) | 5.63 | 3/15/16 | 567 | ||||||||||||
330 | Pertamina Persero PT (Oil & Gas Exploration & Production) | 6.50 | 5/27/41 | 289 | ||||||||||||
450 | Petroleos de Venezuela SA (Oil & Gas Storage & Transportation) | 8.50 | 11/2/17 | 375 | ||||||||||||
270 | Petroleos de Venezuela SA (Oil & Gas Storage & Transportation) | 12.75 | 2/17/22 | 246 | ||||||||||||
360 | Petroleos Mexicanos (Oil, Gas & Consumable Fuels) | 6.50 | 6/2/41 | 376 | ||||||||||||
354 | Petroleos Mexicanos (Oil, Gas & Consumable Fuels) | 8.00 | 5/3/19 | 429 | ||||||||||||
190 | Petroliam Nasional Berhad – Registered (Oil, Gas & Consumable Fuels) | 7.63 | 10/15/26 | 238 | ||||||||||||
250 | Petronas Capital Ltd. (Oil & Gas Storage & Transportation) (a) | 5.25 | 8/12/19 | 274 | ||||||||||||
300 | Power Sector Assets & Liabilities Management Corp. – Registered (Diversified Financial Services) | 7.25 | 5/27/19 | 356 | ||||||||||||
3,405 | Quebecor Media, Inc. (Cable & Satellite) | 5.75 | 1/15/23 | 3,295 | ||||||||||||
555 | Republic of Argentina, Series NY (Sovereign) (c) | 2.50 | 12/31/38 | 226 | ||||||||||||
894 | Republic of Argentina, Series NY (Sovereign) | 5.77 | 12/31/33 | 675 | ||||||||||||
255 | Republic of Belarus (Sovereign) | 8.95 | 1/26/18 | 256 | ||||||||||||
600 | Republic of Chile (Sovereign) | 3.25 | 9/14/21 | 587 | ||||||||||||
660 | Republic of Colombia (Sovereign) | 6.13 | 1/18/41 | 706 | ||||||||||||
840 | Republic of Colombia (Sovereign) | 7.38 | 1/27/17 | 970 | ||||||||||||
225 | Republic of Costa Rica – Registered (Sovereign) | 6.25 | 11/1/23 | 218 | ||||||||||||
357 | Republic of Cote d'Ivoire – Registered (Sovereign) (c) | 5.75 | 12/31/32 | 319 | ||||||||||||
200 | Republic of Croatia – Registered (Sovereign) | 6.25 | 4/27/17 | 213 | ||||||||||||
720 | Republic of Croatia – Registered (Sovereign) | 6.63 | 7/14/20 | 771 | ||||||||||||
300 | Republic of El Salvador – Registered (Sovereign) | 7.38 | 12/1/19 | 327 | ||||||||||||
300 | Republic of El Salvador – Registered (Sovereign) | 7.65 | 6/15/35 | 292 | ||||||||||||
220 | Republic of Ghana – Registered (Sovereign) | 7.88 | 8/7/23 | 207 | ||||||||||||
220 | Republic of Guatemala – Registered (Sovereign) | 4.88 | 2/13/28 | 200 | ||||||||||||
466 | Republic of Hungary (Sovereign) | 5.38 | 2/21/23 | 460 | ||||||||||||
699 | Republic of Hungary (Sovereign) | 6.25 | 1/29/20 | 754 | ||||||||||||
460 | Republic of Indonesia – Registered (Sovereign) | 4.63 | 4/15/43 | 369 |
See accompanying notes to financial statements.
133
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Yankee Dollars (continued) | ||||||||||||||||
$780 | Republic of Indonesia – Registered (Sovereign) | 6.88 | 1/17/18 | $ | 871 | |||||||||||
315 | Republic of Indonesia – Registered (Sovereign) | 7.50 | 1/15/16 | 347 | ||||||||||||
385 | Republic of Iraq – Registered (Sovereign), Callable 3/2/14 @ 100.00 | 5.80 | 1/15/28 | 327 | ||||||||||||
360 | Republic of Latvia – Registered (Sovereign) | 2.75 | 1/12/20 | 343 | ||||||||||||
550 | Republic of Lebanese, Series E (Sovereign) | 9.00 | 3/20/17 | 613 | ||||||||||||
175 | Republic of Lithuania – Registered (Sovereign) | 5.13 | 9/14/17 | 191 | ||||||||||||
639 | Republic of Lithuania – Registered (Sovereign) | 7.38 | 2/11/20 | 768 | ||||||||||||
280 | Republic of Nigeria – Registered (Sovereign) | 5.13 | 7/12/18 | 287 | ||||||||||||
408 | Republic of Panama (Sovereign) | 6.70 | 1/26/36 | 456 | ||||||||||||
555 | Republic of Panama (Sovereign) | 7.13 | 1/29/26 | 666 | ||||||||||||
759 | Republic of Peru (Sovereign) | 6.55 | 3/14/37 | 872 | ||||||||||||
300 | Republic of Peru (Sovereign) | 7.13 | 3/30/19 | 363 | ||||||||||||
624 | Republic of Philippines (Sovereign) | 5.00 | 1/13/37 | 649 | ||||||||||||
100 | Republic of Philippines (Sovereign) | 7.75 | 1/14/31 | 132 | ||||||||||||
840 | Republic of Philippines (Sovereign) | 8.38 | 6/17/19 | 1,071 | ||||||||||||
225 | Republic of Poland (Sovereign) | 5.00 | 10/19/15 | 242 | ||||||||||||
921 | Republic of Poland (Sovereign) | 5.00 | 3/23/22 | 984 | ||||||||||||
350 | Republic of Poland (Sovereign) | 6.38 | 7/15/19 | 409 | ||||||||||||
600 | Republic of Serbia (Sovereign) | 7.25 | 9/28/21 | 632 | ||||||||||||
605 | Republic of South Africa (Sovereign) | 4.67 | 1/17/24 | 578 | ||||||||||||
414 | Republic of South Africa (Sovereign) | 6.88 | 5/27/19 | 474 | ||||||||||||
427 | Republic of Sri Lanka – Registered (Sovereign) | 5.88 | 7/25/22 | 399 | ||||||||||||
840 | Republic of Turkey (Sovereign) | 7.00 | 6/5/20 | 916 | ||||||||||||
275 | Republic of Turkey (Sovereign) | 7.00 | 9/26/16 | 302 | ||||||||||||
735 | Republic of Turkey (Sovereign) | 8.00 | 2/14/34 | 818 | ||||||||||||
65 | Republic of Venezuela – Registered (Sovereign) | 11.75 | 10/21/26 | 56 | ||||||||||||
450 | Republic of Venezuela – Registered (Sovereign) | 11.95 | 8/5/31 | 383 | ||||||||||||
465 | Republic of Venezuela – Registered (Sovereign) | 12.75 | 8/23/22 | 429 | ||||||||||||
450 | Romania – Registered (Sovereign) | 6.75 | 2/7/22 | 511 | ||||||||||||
1,672 | Royal Caribbean Cruises Ltd. (Hotels, Restaurants & Leisure) | 5.25 | 11/15/22 | 1,672 | ||||||||||||
300 | Russia Foreign Bond – Registered (Sovereign) | 3.63 | 4/29/15 | 310 | ||||||||||||
429 | Russia Foreign Bond – Registered (Sovereign) (c) | 7.50 | 3/31/30 | 500 | ||||||||||||
800 | Russian Federation – Registered (Sovereign) | 4.88 | 9/16/23 | 808 | ||||||||||||
2,260 | Seagate HDD Cayman (Computer Storage & Peripherals), Callable 5/1/15 @ 103.44 | 6.88 | 5/1/20 | 2,444 | ||||||||||||
1,597 | Sensata Technologies BV (Semiconductors) (a) | 4.88 | 10/15/23 | 1,501 | ||||||||||||
250 | Sinochem Hong Kong Group Co. Ltd. (Chemicals) (a) | 4.50 | 11/12/20 | 255 | ||||||||||||
600 | Sinopec Group Overseas Development (2012) Ltd. – Registered (Oil & Gas Exploration & Production) | 2.75 | 5/17/17 | 613 | ||||||||||||
395 | Sinopec Group Overseas Development (2013) Ltd. – Registered (Oil & Gas Exploration & Production) | 4.38 | 10/17/23 | 388 | ||||||||||||
230 | Slovak Republic – Registered (Sovereign) | 4.38 | 5/21/22 | 237 | ||||||||||||
4,011 | SoftBank Corp. (Wireless Telecommunication Services) (a) | 4.50 | 4/15/20 | 3,911 | ||||||||||||
2,817 | Stackpole International Intermediate Co. SA (Aerospace & Defense), Callable 10/15/16 @ 105.81 (a) | 7.75 | 10/15/21 | 2,931 | ||||||||||||
200 | State Grid Overseas Investment (2013) Ltd. – Registered (Utilities) | 3.13 | 5/22/23 | 183 | ||||||||||||
245 | State Oil Co. of the Azerbaijan Republic, Series E (Oil, Gas & Consumable Fuels) | 4.75 | 3/13/23 | 231 | ||||||||||||
2,836 | Telecom Italia Capital (Diversified Telecommunication Services) | 7.00 | 6/4/18 | 3,141 | ||||||||||||
650 | Tembec Industries, Inc. (Paper & Forest Products), Callable 12/15/14 @ 105.62 | 11.25 | 12/15/18 | 712 | ||||||||||||
804 | The Nielsen Co. (Luxembourg) Sarl (Diversified Financial Services), Callable 10/1/16 @ 104.13 (a) | 5.50 | 10/1/21 | 816 | ||||||||||||
3,751 | Tullow Oil PLC (Oil & Gas Exploration & Production), Callable 11/1/16 @ 103.00 (a) | 6.00 | 11/1/20 | 3,808 | ||||||||||||
441 | Ukraine Government – Registered (Sovereign) | 7.75 | 9/23/20 | 407 | ||||||||||||
200 | Ukraine Government – Registered (Sovereign) | 7.80 | 11/28/22 | 181 | ||||||||||||
500 | Ukraine Government – Registered (Sovereign) | 9.25 | 7/24/17 | 498 |
See accompanying notes to financial statements.
134
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Shares or Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Yankee Dollars (continued) | ||||||||||||||||
$455 | Ukreximbank (Biz Finance PLC) – Registered (Sovereign) | 8.38 | 4/27/15 | $ | 433 | |||||||||||
726 | United Mexican States (Sovereign) | 3.63 | 3/15/22 | 725 | ||||||||||||
150 | United Mexican States, MTN (Sovereign) | 4.75 | 3/8/44 | 135 | ||||||||||||
70 | United Mexican States (Sovereign) | 5.63 | 1/15/17 | 78 | ||||||||||||
132 | United Mexican States (Sovereign) | 6.05 | 1/11/40 | 144 | ||||||||||||
75 | United Mexican States (Sovereign) | 6.75 | 9/27/34 | 89 | ||||||||||||
3,570 | UPCB Finance V Ltd. (Diversified Telecommunication Services), Callable 11/15/16 @ 103.63 (a) | 7.25 | 11/15/21 | 3,874 | ||||||||||||
2,119 | UPCB Finance VI Ltd. (Diversified Telecommunication Services), Callable 1/15/17 @ 103.44 (a) | 6.88 | 1/15/22 | 2,251 | ||||||||||||
2,081 | Valeant Pharmaceuticals International, Inc. (Pharmaceuticals), Callable 12/1/16 @ 102.81 (a) | 5.63 | 12/1/21 | 2,091 | ||||||||||||
1,261 | Videotron Ltee (Wireless Telecommunication Services) | 5.00 | 7/15/22 | 1,233 | ||||||||||||
275 | Vnesheconombank (VEB) – Registered (Commercial Banks) | 6.80 | 11/22/25 | 287 | ||||||||||||
5,520 | VPII Escrow Corp. (Pharmaceuticals), Callable 8/15/15 @ 105.06 (a) | 6.75 | 8/15/18 | 6,064 | ||||||||||||
1,055 | VPII Escrow Corp. (Pharmaceuticals), Callable 7/15/16 @ 105.63 (a) | 7.50 | 7/15/21 | 1,158 | ||||||||||||
2,503 | Wind Acquisition Finance SA (Diversified Telecommunication Services), Callable 2/7/14 @ 105.44 (a) | 7.25 | 2/15/18 | 2,634 | ||||||||||||
881 | Wind Acquisition Finance SA (Diversified Telecommunication Services), Callable 2/7/14 @ 105.44 (a) | 7.25 | 2/15/18 | 923 | ||||||||||||
Total Yankee Dollars | 178,860 | |||||||||||||||
Preferred Stock — 0.16% | ||||||||||||||||
55,515 | GMAC Capital Trust I (Consumer Finance) Callable 2/15/16 @ 25.00 | 1,484 | ||||||||||||||
Total Preferred Stock | 1,484 | |||||||||||||||
Time Deposit — 1.68% | ||||||||||||||||
$15,248 | State Street Liquidity Management Control System Eurodollar Time Deposit | 0.01 | 1/2/14 | 15,248 | ||||||||||||
Total Time Deposit | 15,248 | |||||||||||||||
Mutual Fund — 0.05% | ||||||||||||||||
477,246 | SSgA Treasury Money Market Fund(d) | 0.00 | 477 | |||||||||||||
Total Mutual Fund | 477 | |||||||||||||||
Total Investments (cost $875,566) — 98.27% | 894,242 | |||||||||||||||
Other assets in excess of liabilities — 1.73% | 15,735 | |||||||||||||||
Net Assets — 100.00% | $ | 909,977 |
(a) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(b) | A perpetual bond is one with no maturity date that pays a fixed interest rate forever. |
(c) | Step Bond: Coupon rate is set for an initial period and then increased to a higher coupon rate at a specified date. The rate shown is the rate in effect at December 31, 2013. |
(d) | The rate disclosed is the rate in effect on December 31, 2013. |
MTN — Medium Term Note
ULC — Unlimited Liability Co.
See accompanying notes to financial statements.
135
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
The following table reflects the percentage of the total net assets of the Portfolio attributable to each Specialist Manager, see Note 3 in the Notes to Financial Statements.
The Fixed Income Opportunity Portfolio | Fort Washington | Mellon Capital Management Corporation | Seix Investment Advisors LLC | Total | ||||||||||||
Corporate Bonds | 76.65 | % | 0.07 | % | — | 76.72 | % | |||||||||
Yankee Dollars | 15.17 | % | 4.49 | % | — | 19.66 | % | |||||||||
Preferred Stocks | 0.16 | % | — | — | 0.16 | % | ||||||||||
Time Deposits | 1.67 | % | — | 0.01 | % | 1.68 | % | |||||||||
Mutual Fund | — | 0.05 | % | — | 0.05 | % | ||||||||||
Other Assets (Liabilities) | 1.68 | % | 0.06 | % | -0.01 | % | 1.73 | % | ||||||||
Total Net Assets | 95.33 | % | 4.67 | % | 0.00 | % | 100.00 | % |
See accompanying notes to financial statements.
136
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Securities — 9.80% | ||||||||||||||||
$475 | Fannie Mae | 0.38 | 3/16/15 | $ | 476 | |||||||||||
250 | Fannie Mae, Callable 3/28/14 @ 100.00 | 0.50 | 3/28/16 | 250 | ||||||||||||
320 | Fannie Mae, Callable 1/29/14 @ 100.00 | 0.50 | 4/29/16 | 319 | ||||||||||||
150 | Fannie Mae, Callable 1/29/14 @ 100.00 | 0.55 | 4/29/16 | 150 | ||||||||||||
95 | Fannie Mae, Callable 2/27/14 @ 100.00 | 0.55 | 2/27/15 | 95 | ||||||||||||
415 | Fannie Mae, Callable 4/18/14 @ 100.00 | 0.57 | 4/18/16 | 414 | ||||||||||||
350 | Fannie Mae | 0.88 | 12/20/17 | 343 | ||||||||||||
750 | Fannie Mae | 0.88 | 2/8/18 | 731 | ||||||||||||
800 | Fannie Mae | 0.88 | 8/28/17 | 790 | ||||||||||||
385 | Fannie Mae | 0.88 | 10/26/17 | 378 | ||||||||||||
450 | Fannie Mae, Callable 2/23/14 @ 100.00 | 0.95 | 8/23/17 | 445 | ||||||||||||
300 | Fannie Mae, Series 0001, Callable 4/30/14 @ 100.00 | 1.00 | 4/30/18 | 292 | ||||||||||||
50 | Fannie Mae, Callable 2/15/14 @ 100.00 | 1.00 | 2/15/18 | 49 | ||||||||||||
300 | Fannie Mae, Callable 3/28/14 @ 100.00 | 1.00 | 12/28/17 | 293 | ||||||||||||
250 | Fannie Mae, Callable 3/27/14 @ 100.00 | 1.07 | 9/27/17 | 247 | ||||||||||||
75 | Fannie Mae, Callable 3/28/14 @ 100.00 | 1.13 | 3/28/18 | 73 | ||||||||||||
250 | Fannie Mae, Callable 2/28/14 @ 100.00 | 1.15 | 2/28/18 | 245 | ||||||||||||
350 | Fannie Mae | 1.25 | 9/28/16 | 355 | ||||||||||||
150 | Fannie Mae, Callable 1/29/14 @ 100.00 | 1.55 | 10/29/19 | 142 | ||||||||||||
400 | Fannie Mae | 1.63 | 10/26/15 | 409 | ||||||||||||
100 | Fannie Mae, Callable 2/22/14 @ 100.00 | 2.50 | 2/22/23 | 91 | ||||||||||||
580 | Fannie Mae (a) | 3.21 | 10/9/19 | 493 | ||||||||||||
610 | Fannie Mae | 5.00 | 2/13/17 | 686 | ||||||||||||
300 | Fannie Mae | 5.00 | 3/15/16 | 330 | ||||||||||||
400 | Fannie Mae | 5.25 | 9/15/16 | 449 | ||||||||||||
400 | Fannie Mae | 5.38 | 6/12/17 | 457 | ||||||||||||
30 | Fannie Mae, Callable 11/13/14 @ 100.00 | 5.38 | 11/13/28 | 31 | ||||||||||||
150 | Fannie Mae, Callable 4/18/16 @ 100.00 | 6.00 | 4/18/36 | 164 | ||||||||||||
85 | Fannie Mae | 6.21 | 8/6/38 | 106 | ||||||||||||
295 | Fannie Mae | 6.25 | 5/15/29 | 370 | ||||||||||||
160 | Fannie Mae | 6.63 | 11/15/30 | 208 | ||||||||||||
230 | Fannie Mae | 7.25 | 5/15/30 | 316 | ||||||||||||
150 | Federal Farm Credit Bank, Callable 1/14/14 @ 100.00 | 0.54 | 11/7/16 | 149 | ||||||||||||
85 | Federal Farm Credit Bank, Callable 1/14/14 @ 100.00 | 0.73 | 8/15/16 | 85 | ||||||||||||
300 | Federal Farm Credit Bank | 4.88 | 12/16/15 | 326 | ||||||||||||
250 | Federal Farm Credit Bank | 5.13 | 8/25/16 | 279 | ||||||||||||
150 | Federal Home Loan Bank | 0.25 | 1/16/15 | 150 | ||||||||||||
600 | Federal Home Loan Bank | 0.50 | 11/20/15 | 601 | ||||||||||||
170 | Federal Home Loan Bank, Callable 1/28/14 @ 100.00 | 1.25 | 2/28/18 | 167 | ||||||||||||
590 | Federal Home Loan Bank | 2.75 | 3/13/15 | 608 | ||||||||||||
300 | Federal Home Loan Bank | 4.75 | 12/16/16 | 335 | ||||||||||||
750 | Federal Home Loan Bank, Series 1069 | 5.00 | 11/17/17 | 856 | ||||||||||||
580 | Federal Home Loan Bank | 5.25 | 12/11/20 | 672 | ||||||||||||
500 | Federal Home Loan Bank, Series 656 | 5.38 | 5/18/16 | 557 |
See accompanying notes to financial statements.
137
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||||||||||||||
U.S. Government Agency Securities (continued) | ||||||||||||||||||||||||||||
$65 | Federal Home Loan Bank | 5.50 | 7/15/36 | $ | 75 | |||||||||||||||||||||||
200 | Freddie Mac | 0.42 | 9/18/15 | 200 | ||||||||||||||||||||||||
100 | Freddie Mac | 0.50 | 8/28/15 | 100 | ||||||||||||||||||||||||
75 | Freddie Mac, Callable 1/28/15 @ 100.00 | 0.50 | 1/28/16 | 75 | ||||||||||||||||||||||||
500 | Freddie Mac, Series 0001, Callable 2/27/14 @ 100.00 | 0.55 | 2/27/15 | 500 | ||||||||||||||||||||||||
100 | Freddie Mac, Callable 3/20/14 @ 100.00 | 0.57 | 6/20/16 | 100 | ||||||||||||||||||||||||
190 | Freddie Mac, Callable 0 @ 100.00 | 0.60 | 3/28/16 | 190 | ||||||||||||||||||||||||
150 | Freddie Mac, Callable 4/5/14 @ 100.00 | 0.75 | 10/5/16 | 150 | ||||||||||||||||||||||||
500 | Freddie Mac, Callable 2/24/14 @ 100.00 | 0.85 | 2/24/16 | 500 | ||||||||||||||||||||||||
500 | Freddie Mac | 1.00 | 3/8/17 | 501 | ||||||||||||||||||||||||
245 | Freddie Mac, Callable 3/12/14 @ 100.00 | 1.20 | 6/12/18 | 241 | ||||||||||||||||||||||||
400 | Freddie Mac | 1.25 | 8/1/19 | 381 | ||||||||||||||||||||||||
500 | Freddie Mac | 1.25 | 10/2/19 | 474 | ||||||||||||||||||||||||
250 | Freddie Mac, Callable 8/22/14 @ 100.00 | 1.40 | 8/22/19 | 234 | ||||||||||||||||||||||||
700 | Freddie Mac | 1.75 | 9/10/15 | 716 | ||||||||||||||||||||||||
200 | Freddie Mac, Callable 3/13/14 @ 100.00 | 2.25 | 3/13/20 | 197 | ||||||||||||||||||||||||
750 | Freddie Mac | 2.38 | 1/13/22 | 717 | ||||||||||||||||||||||||
100 | Freddie Mac, Callable 4/17/14 @ 100.00 | 2.50 | 4/17/23 | 93 | ||||||||||||||||||||||||
767 | Freddie Mac | 2.88 | 2/9/15 | 789 | ||||||||||||||||||||||||
400 | Freddie Mac | 3.75 | 3/27/19 | 436 | ||||||||||||||||||||||||
1,100 | Freddie Mac | 4.75 | 1/19/16 | 1,195 | ||||||||||||||||||||||||
940 | Freddie Mac | 5.25 | 4/18/16 | 1,041 | ||||||||||||||||||||||||
80 | Freddie Mac | 6.75 | 3/15/31 | 106 | ||||||||||||||||||||||||
290 | Tennessee Valley Authority | 4.70 | 7/15/33 | 292 | ||||||||||||||||||||||||
135 | Tennessee Valley Authority | 5.25 | 9/15/39 | 144 | ||||||||||||||||||||||||
190 | Tennessee Valley Authority | 6.15 | 1/15/38 | 226 | ||||||||||||||||||||||||
Total U.S. Government Agency Securities | 24,655 | |||||||||||||||||||||||||||
Corporate Bond — 0.11% | ||||||||||||||||||||||||||||
250 | Private Export Funding Corp. (Thrifts & Mortgage Finance) | 4.38 | 3/15/19 | 276 | ||||||||||||||||||||||||
Total Corporate Bond | 276 | |||||||||||||||||||||||||||
U.S. Treasury Obligations — 88.66% | ||||||||||||||||||||||||||||
1,380 | U.S. Treasury Bond | 2.75 | 8/15/42 | 1,093 | ||||||||||||||||||||||||
1,734 | U.S. Treasury Bond | 2.75 | 11/15/42 | 1,371 | ||||||||||||||||||||||||
1,467 | U.S. Treasury Bond | 2.88 | 5/15/43 | 1,189 | ||||||||||||||||||||||||
1,039 | U.S. Treasury Bond | 3.00 | 5/15/42 | 871 | ||||||||||||||||||||||||
1,147 | U.S. Treasury Bond | 3.13 | 2/15/43 | 982 | ||||||||||||||||||||||||
1,046 | U.S. Treasury Bond | 3.13 | 11/15/41 | 903 | ||||||||||||||||||||||||
1,731 | U.S. Treasury Bond | 3.13 | 2/15/42 | 1,492 | ||||||||||||||||||||||||
500 | U.S. Treasury Bond | 3.63 | 8/15/43 | 472 | ||||||||||||||||||||||||
1,085 | U.S. Treasury Bond | 3.75 | 11/15/43 | 1,049 | ||||||||||||||||||||||||
1,240 | U.S. Treasury Bond | 3.75 | 8/15/41 | 1,209 | ||||||||||||||||||||||||
935 | U.S. Treasury Bond | 3.88 | 8/15/40 | 935 | ||||||||||||||||||||||||
690 | U.S. Treasury Bond | 4.25 | 11/15/40 | 734 | ||||||||||||||||||||||||
982 | U.S. Treasury Bond | 4.38 | 11/15/39 | 1,067 |
See accompanying notes to financial statements.
138
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$525 | U.S. Treasury Bond | 4.38 | 2/15/38 | $ | 571 | |||||||||||
1,211 | U.S. Treasury Bond | 4.38 | 5/15/40 | 1,315 | ||||||||||||
800 | U.S. Treasury Bond | 4.50 | 8/15/39 | 887 | ||||||||||||
973 | U.S. Treasury Bond | 4.63 | 2/15/40 | 1,099 | ||||||||||||
775 | U.S. Treasury Bond | 4.75 | 2/15/41 | 892 | ||||||||||||
450 | U.S. Treasury Bond | 4.75 | 2/15/37 | 518 | ||||||||||||
850 | U.S. Treasury Bond | 5.25 | 11/15/28 | 1,023 | ||||||||||||
605 | U.S. Treasury Bond | 5.38 | 2/15/31 | 741 | ||||||||||||
313 | U.S. Treasury Bond | 5.50 | 8/15/28 | 386 | ||||||||||||
900 | U.S. Treasury Bond | 6.00 | 2/15/26 | 1,149 | ||||||||||||
1,235 | U.S. Treasury Bond | 6.13 | 11/15/27 | 1,607 | ||||||||||||
135 | U.S. Treasury Bond | 6.25 | 5/15/30 | 180 | ||||||||||||
122 | U.S. Treasury Bond | 6.25 | 8/15/23 | 157 | ||||||||||||
474 | U.S. Treasury Bond | 7.13 | 2/15/23 | 639 | ||||||||||||
7 | U.S. Treasury Bond | 7.88 | 2/15/21 | 10 | ||||||||||||
1,000 | U.S. Treasury Bond | 8.13 | 8/15/19 | 1,332 | ||||||||||||
110 | U.S. Treasury Bond | 8.13 | 8/15/21 | 153 | ||||||||||||
1,070 | U.S. Treasury Note | 0.25 | 9/30/15 | 1,069 | ||||||||||||
1,760 | U.S. Treasury Note | 0.25 | 5/15/15 | 1,761 | ||||||||||||
2,300 | U.S. Treasury Note | 0.25 | 12/31/15 | 2,294 | ||||||||||||
1,901 | U.S. Treasury Note | 0.25 | 10/15/15 | 1,899 | ||||||||||||
1,500 | U.S. Treasury Note | 0.25 | 2/15/15 | 1,501 | ||||||||||||
1,300 | U.S. Treasury Note | 0.25 | 5/15/16 | 1,292 | ||||||||||||
1,000 | U.S. Treasury Note | 0.25 | 3/31/15 | 1,001 | ||||||||||||
1,180 | U.S. Treasury Note | 0.25 | 10/31/15 | 1,178 | ||||||||||||
1,351 | U.S. Treasury Note | 0.25 | 7/31/15 | 1,351 | ||||||||||||
1,000 | U.S. Treasury Note | 0.25 | 5/31/15 | 1,000 | ||||||||||||
1,810 | U.S. Treasury Note | 0.25 | 2/28/15 | 1,811 | ||||||||||||
1,465 | U.S. Treasury Note | 0.25 | 7/15/15 | 1,465 | ||||||||||||
1,601 | U.S. Treasury Note | 0.25 | 9/15/15 | 1,600 | ||||||||||||
1,825 | U.S. Treasury Note | 0.25 | 12/15/15 | 1,821 | ||||||||||||
1,315 | U.S. Treasury Note | 0.25 | 8/15/15 | 1,314 | ||||||||||||
2,500 | U.S. Treasury Note | 0.38 | 6/30/15 | 2,505 | ||||||||||||
2,047 | U.S. Treasury Note | 0.38 | 6/15/15 | 2,051 | ||||||||||||
1,680 | U.S. Treasury Note | 0.38 | 4/15/15 | 1,684 | ||||||||||||
1,330 | U.S. Treasury Note | 0.38 | 8/31/15 | 1,332 | ||||||||||||
1,914 | U.S. Treasury Note | 0.38 | 3/15/16 | 1,911 | ||||||||||||
1,171 | U.S. Treasury Note | 0.38 | 2/15/16 | 1,170 | ||||||||||||
1,899 | U.S. Treasury Note | 0.38 | 1/15/16 | 1,898 | ||||||||||||
1,898 | U.S. Treasury Note | 0.38 | 11/15/15 | 1,899 | ||||||||||||
2,200 | U.S. Treasury Note | 0.63 | 11/30/17 | 2,145 | ||||||||||||
1,250 | U.S. Treasury Note | 0.63 | 8/15/16 | 1,250 | ||||||||||||
2,000 | U.S. Treasury Note | 0.63 | 7/15/16 | 2,003 | ||||||||||||
1,120 | U.S. Treasury Note | 0.63 | 12/15/16 | 1,115 |
See accompanying notes to financial statements.
139
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$2,950 | U.S. Treasury Note | 0.63 | 5/31/17 | $ | 2,913 | |||||||||||
650 | U.S. Treasury Note | 0.63 | 9/30/17 | 636 | ||||||||||||
800 | U.S. Treasury Note | 0.63 | 4/30/18 | 772 | ||||||||||||
1,500 | U.S. Treasury Note | 0.63 | 10/15/16 | 1,497 | ||||||||||||
1,120 | U.S. Treasury Note | 0.63 | 11/15/16 | 1,117 | ||||||||||||
1,000 | U.S. Treasury Note | 0.75 | 10/31/17 | 982 | ||||||||||||
1,813 | U.S. Treasury Note | 0.75 | 3/31/18 | 1,761 | ||||||||||||
1,850 | U.S. Treasury Note | 0.75 | 2/28/18 | 1,801 | ||||||||||||
1,526 | U.S. Treasury Note | 0.75 | 12/31/17 | 1,492 | ||||||||||||
1,522 | U.S. Treasury Note | 0.88 | 11/30/16 | 1,527 | ||||||||||||
1,145 | U.S. Treasury Note | 0.88 | 9/15/16 | 1,152 | ||||||||||||
2,000 | U.S. Treasury Note | 0.88 | 2/28/17 | 2,000 | ||||||||||||
700 | U.S. Treasury Note | 0.88 | 7/31/19 | 659 | ||||||||||||
2,568 | U.S. Treasury Note | 0.88 | 4/30/17 | 2,560 | ||||||||||||
50 | U.S. Treasury Note | 0.88 | 12/31/16 | 50 | ||||||||||||
1,799 | U.S. Treasury Note | 0.88 | 1/31/18 | 1,765 | ||||||||||||
890 | U.S. Treasury Note | 1.00 | 9/30/19 | 840 | ||||||||||||
2,100 | U.S. Treasury Note | 1.00 | 3/31/17 | 2,105 | ||||||||||||
2,135 | U.S. Treasury Note | 1.00 | 9/30/16 | 2,153 | ||||||||||||
1,000 | U.S. Treasury Note | 1.13 | 3/31/20 | 937 | ||||||||||||
1,055 | U.S. Treasury Note | 1.13 | 4/30/20 | 986 | ||||||||||||
200 | U.S. Treasury Note | 1.13 | 5/31/19 | 192 | ||||||||||||
1,606 | U.S. Treasury Note | 1.25 | 9/30/15 | 1,632 | ||||||||||||
1,285 | U.S. Treasury Note | 1.25 | 4/30/19 | 1,245 | ||||||||||||
2,028 | U.S. Treasury Note | 1.25 | 10/31/15 | 2,062 | ||||||||||||
1,000 | U.S. Treasury Note | 1.25 | 2/29/20 | 947 | ||||||||||||
1,395 | U.S. Treasury Note | 1.25 | 1/31/19 | 1,360 | ||||||||||||
1,637 | U.S. Treasury Note | 1.25 | 8/31/15 | 1,663 | ||||||||||||
1,295 | U.S. Treasury Note | 1.25 | 10/31/18 | 1,270 | ||||||||||||
3,250 | U.S. Treasury Note | 1.25 | 11/30/18 | 3,181 | ||||||||||||
1,857 | U.S. Treasury Note | 1.38 | 6/30/18 | 1,843 | ||||||||||||
1,000 | U.S. Treasury Note | 1.38 | 9/30/18 | 988 | ||||||||||||
995 | U.S. Treasury Note | 1.38 | 2/28/19 | 974 | ||||||||||||
85 | U.S. Treasury Note | 1.38 | 11/30/18 | 84 | ||||||||||||
893 | U.S. Treasury Note | 1.38 | 12/31/18 | 878 | ||||||||||||
1,523 | U.S. Treasury Note | 1.38 | 11/30/15 | 1,552 | ||||||||||||
2,000 | U.S. Treasury Note | 1.38 | 7/31/18 | 1,982 | ||||||||||||
1,100 | U.S. Treasury Note | 1.50 | 7/31/16 | 1,125 | ||||||||||||
700 | U.S. Treasury Note | 1.50 | 8/31/18 | 696 | ||||||||||||
820 | U.S. Treasury Note | 1.50 | 3/31/19 | 806 | ||||||||||||
1,305 | U.S. Treasury Note | 1.50 | 12/31/18 | 1,290 | ||||||||||||
1,257 | U.S. Treasury Note | 1.63 | 11/15/22 | 1,135 | ||||||||||||
1,250 | U.S. Treasury Note | 1.63 | 8/15/22 | 1,136 | ||||||||||||
1,600 | U.S. Treasury Note | 1.75 | 10/31/20 | 1,535 |
See accompanying notes to financial statements.
140
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$1,977 | U.S. Treasury Note | 1.75 | 5/15/22 | $ | 1,828 | |||||||||||
640 | U.S. Treasury Note | 1.75 | 10/31/18 | 643 | ||||||||||||
2,398 | U.S. Treasury Note | 1.75 | 5/15/23 | 2,161 | ||||||||||||
1,683 | U.S. Treasury Note | 1.75 | 7/31/15 | 1,722 | ||||||||||||
711 | U.S. Treasury Note | 1.75 | 5/31/16 | 732 | ||||||||||||
1,200 | U.S. Treasury Note | 1.88 | 10/31/17 | 1,230 | ||||||||||||
3,140 | U.S. Treasury Note | 1.88 | 6/30/15 | 3,217 | ||||||||||||
166 | U.S. Treasury Note | 1.88 | 9/30/17 | 170 | ||||||||||||
1,500 | U.S. Treasury Note | 2.00 | 11/15/21 | 1,432 | ||||||||||||
1,697 | U.S. Treasury Note | 2.00 | 2/15/22 | 1,610 | ||||||||||||
2,016 | U.S. Treasury Note | 2.00 | 4/30/16 | 2,086 | ||||||||||||
1,823 | U.S. Treasury Note | 2.00 | 1/31/16 | 1,883 | ||||||||||||
1,000 | U.S. Treasury Note | 2.00 | 7/31/20 | 982 | ||||||||||||
2,938 | U.S. Treasury Note | 2.00 | 2/15/23 | 2,726 | ||||||||||||
1,070 | U.S. Treasury Note | 2.00 | 9/30/20 | 1,046 | ||||||||||||
1,718 | U.S. Treasury Note | 2.13 | 2/29/16 | 1,781 | ||||||||||||
491 | U.S. Treasury Note | 2.13 | 12/31/15 | 508 | ||||||||||||
2,265 | U.S. Treasury Note | 2.13 | 5/31/15 | 2,325 | ||||||||||||
2,147 | U.S. Treasury Note | 2.13 | 8/15/21 | 2,080 | ||||||||||||
1,135 | U.S. Treasury Note | 2.13 | 8/31/20 | 1,120 | ||||||||||||
11 | U.S. Treasury Note | 2.25 | 1/31/15 | 11 | ||||||||||||
1,074 | U.S. Treasury Note | 2.25 | 11/30/17 | 1,115 | ||||||||||||
1,085 | U.S. Treasury Note | 2.38 | 12/31/20 | 1,081 | ||||||||||||
1,295 | U.S. Treasury Note | 2.38 | 7/31/17 | 1,353 | ||||||||||||
2,570 | U.S. Treasury Note | 2.38 | 2/28/15 | 2,634 | ||||||||||||
1,445 | U.S. Treasury Note | 2.38 | 3/31/16 | 1,507 | ||||||||||||
2,590 | U.S. Treasury Note | 2.50 | 4/30/15 | 2,669 | ||||||||||||
750 | U.S. Treasury Note | 2.50 | 6/30/17 | 787 | ||||||||||||
2,540 | U.S. Treasury Note | 2.50 | 8/15/23 | 2,439 | ||||||||||||
1,228 | U.S. Treasury Note | 2.50 | 3/31/15 | 1,263 | ||||||||||||
2,447 | U.S. Treasury Note | 2.63 | 8/15/20 | 2,497 | ||||||||||||
906 | U.S. Treasury Note | 2.63 | 1/31/18 | 953 | ||||||||||||
465 | U.S. Treasury Note | 2.63 | 2/29/16 | 487 | ||||||||||||
1,993 | U.S. Treasury Note | 2.63 | 11/15/20 | 2,025 | ||||||||||||
592 | U.S. Treasury Note | 2.63 | 4/30/16 | 621 | ||||||||||||
1,250 | U.S. Treasury Note | 2.75 | 5/31/17 | 1,323 | ||||||||||||
1,029 | U.S. Treasury Note | 2.75 | 2/15/19 | 1,078 | ||||||||||||
600 | U.S. Treasury Note | 2.75 | 11/15/23 | 587 | ||||||||||||
765 | U.S. Treasury Note | 2.75 | 12/31/17 | 809 | ||||||||||||
200 | U.S. Treasury Note | 2.88 | 3/31/18 | 212 | ||||||||||||
2,367 | U.S. Treasury Note | 3.00 | 8/31/16 | 2,514 | ||||||||||||
265 | U.S. Treasury Note | 3.00 | 9/30/16 | 282 | ||||||||||||
2,110 | U.S. Treasury Note | 3.13 | 5/15/21 | 2,200 | ||||||||||||
1,430 | U.S. Treasury Note | 3.13 | 5/15/19 | 1,524 |
See accompanying notes to financial statements.
141
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$2,135 | U.S. Treasury Note | 3.13 | 1/31/17 | $ | 2,282 | |||||||||||
1,382 | U.S. Treasury Note | 3.13 | 4/30/17 | 1,479 | ||||||||||||
1,780 | U.S. Treasury Note | 3.25 | 6/30/16 | 1,899 | ||||||||||||
2,202 | U.S. Treasury Note | 3.25 | 12/31/16 | 2,362 | ||||||||||||
827 | U.S. Treasury Note | 3.25 | 3/31/17 | 889 | ||||||||||||
349 | U.S. Treasury Note | 3.25 | 7/31/16 | 373 | ||||||||||||
1,382 | U.S. Treasury Note | 3.38 | 11/15/19 | 1,487 | ||||||||||||
1,149 | U.S. Treasury Note | 3.50 | 2/15/18 | 1,247 | ||||||||||||
1,191 | U.S. Treasury Note | 3.50 | 5/15/20 | 1,285 | ||||||||||||
1,752 | U.S. Treasury Note | 3.63 | 2/15/21 | 1,891 | ||||||||||||
1,129 | U.S. Treasury Note | 3.63 | 8/15/19 | 1,230 | ||||||||||||
2,540 | U.S. Treasury Note | 3.63 | 2/15/20 | 2,766 | ||||||||||||
1,000 | U.S. Treasury Note | 3.75 | 11/15/18 | 1,097 | ||||||||||||
1,165 | U.S. Treasury Note | 3.88 | 5/15/18 | 1,284 | ||||||||||||
2,167 | U.S. Treasury Note | 4.00 | 2/15/15 | 2,259 | ||||||||||||
548 | U.S. Treasury Note | 4.13 | 5/15/15 | 577 | ||||||||||||
825 | U.S. Treasury Note | 4.25 | 8/15/15 | 878 | ||||||||||||
2,039 | U.S. Treasury Note | 4.25 | 11/15/17 | 2,270 | ||||||||||||
1,032 | U.S. Treasury Note | 4.50 | 11/15/15 | 1,112 | ||||||||||||
648 | U.S. Treasury Note | 4.50 | 5/15/17 | 723 | ||||||||||||
1,304 | U.S. Treasury Note | 9.13 | 5/15/18 | 1,730 | ||||||||||||
Total U.S. Treasury Obligations | 223,000 | |||||||||||||||
Time Deposit — 0.60% | ||||||||||||||||
1,509 | State Street Liquidity Management Control System Eurodollar Time Deposit | 0.01 | 1/2/14 | 1,509 | ||||||||||||
Total Time Deposit | 1,509 | |||||||||||||||
Total Investments (cost $252,211) — 99.17% | 249,440 | |||||||||||||||
Other assets in excess of liabilities — 0.83% | 2,099 | |||||||||||||||
Net Assets — 100.00% | $ | 251,539 |
(a) | Rate disclosed represents effective yield at purchase. |
See accompanying notes to financial statements.
142
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds — 71.56% | ||||||||||||||||
$1,104 | 3M Co. (Industrial Conglomerates) | 1.38 | 9/29/16 | $ | 1,120 | |||||||||||
3,914 | Agilent Technologies, Inc. (Life Sciences Tools & Services), Callable 4/15/23 @ 100.00 | 3.88 | 7/15/23 | 3,710 | ||||||||||||
2,290 | Allstate Corp. (Insurance), Callable 8/15/23 @ 100.00 | 5.75 | 8/15/53 | 2,307 | ||||||||||||
4,404 | American Airlines 2013-2, Class A (Airlines) (a) | 4.95 | 1/15/23 | 4,539 | ||||||||||||
3,444 | American International Group, MTN (Insurance) | 5.85 | 1/16/18 | 3,950 | ||||||||||||
2,627 | American Tower Corp. (Real Estate Investment Trusts) | 3.50 | 1/31/23 | 2,395 | ||||||||||||
3,376 | American Tower Corp. (Real Estate Investment Trusts) | 5.00 | 2/15/24 | 3,401 | ||||||||||||
699 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | 3.00 | 4/15/16 | 729 | ||||||||||||
1,179 | Apple, Inc. (Computer Hardware) | 3.85 | 5/4/43 | 985 | ||||||||||||
1,814 | Arch Capital Group (U.S.), Inc. (Insurance) | 5.14 | 11/1/43 | 1,814 | ||||||||||||
4,051 | AT&T, Inc. (Wireless Telecommunication Services) | 2.38 | 11/27/18 | 4,054 | ||||||||||||
1,965 | AT&T, Inc. (Wireless Telecommunication Services), Callable 12/15/44 @ 100.00 | 4.35 | 6/15/45 | 1,664 | ||||||||||||
1,580 | AutoZone, Inc. (Specialty Retail), Callable 1/15/22 @ 100.00 | 3.70 | 4/15/22 | 1,525 | ||||||||||||
1,667 | Barrick NA Finance LLC (Diversified Metals & Mining) | 5.75 | 5/1/43 | 1,499 | ||||||||||||
4,327 | Berkshire Hathaway, Inc. (Insurance) | 3.20 | 2/11/15 | 4,460 | ||||||||||||
3,299 | CC Holdings GS V LLC (Wireless Telecommunication Services) | 3.85 | 4/15/23 | 3,088 | ||||||||||||
1,850 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 2/22/16 | 2,035 | ||||||||||||
2,125 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 1/15/40 | 2,249 | ||||||||||||
4,899 | Citigroup, Inc. (Diversified Financial Services) | 2.50 | 9/26/18 | 4,924 | ||||||||||||
1,489 | Citigroup, Inc. (Diversified Financial Services) | 6.68 | 9/13/43 | 1,713 | ||||||||||||
1,541 | Comcast Corp. (Media) | 4.65 | 7/15/42 | 1,435 | ||||||||||||
3,169 | Digital Realty Trust LP (Real Estate Investment Trusts) | 5.88 | 2/1/20 | 3,371 | ||||||||||||
883 | Dominion Resources, Inc. (Multi-Utilities) | 1.95 | 8/15/16 | 898 | ||||||||||||
707 | eBay, Inc. (Internet Software & Services), Callable 1/15/42 @ 100.00 | 4.00 | 7/15/42 | 599 | ||||||||||||
2,242 | Enterprise Products Operating LLC (Commercial Banks) | 4.85 | 3/15/44 | 2,108 | ||||||||||||
2,372 | ERAC USA Finance Co. (Diversified Financial Services) (a) | 5.25 | 10/1/20 | 2,608 | ||||||||||||
658 | ERAC USA Finance Co. (Diversified Financial Services) (a) | 5.60 | 5/1/15 | 699 | ||||||||||||
2,107 | ERAC USA Finance LLC (Diversified Financial Services) (a) | 2.80 | 11/1/18 | 2,133 | ||||||||||||
1,932 | Exelon Generation Co. LLC (Independent Power Producers & Energy Traders) | 6.20 | 10/1/17 | 2,184 | ||||||||||||
1,733 | Express Scripts Holding Co. (Personal Products) | 2.65 | 2/15/17 | 1,786 | ||||||||||||
2,058 | Fidelity National Information Services, Inc. (Data Processing & Outsourced Services), Callable 1/15/23 @ 100.00 | 3.50 | 4/15/23 | 1,876 | ||||||||||||
3,302 | Fifth Third Bank, Series BKNT (Commercial Banks), Callable 1/28/18 @ 100.00 | 1.45 | 2/28/18 | 3,218 | ||||||||||||
1,112 | Ford Motor Credit Co. LLC (Diversified Financial Services) | 4.38 | 8/6/23 | 1,118 | ||||||||||||
3,444 | Ford Motor Credit Co. LLC (Diversified Financial Services) | 5.00 | 5/15/18 | 3,836 | ||||||||||||
2,600 | General Electric Capital Corp., Series C (Diversified Financial Services), Callable 6/15/23 @ 100.00, Perpetual Bond (b) | 5.25 | — | 2,431 | ||||||||||||
4,000 | General Electric Capital Corp., Series B (Diversified Financial Services), Callable 12/15/22 @ 100.00, Perpetual Bond (b) | 6.25 | — | 4,130 | ||||||||||||
1,360 | General Electric Co. (Industrial Conglomerates) | 4.13 | 10/9/42 | 1,256 | ||||||||||||
1,111 | General Electric Co. (Industrial Conglomerates) | 5.25 | 12/6/17 | 1,258 | ||||||||||||
5,042 | Goldman Sachs Group, Inc. (Capital Markets) | 2.90 | 7/19/18 | 5,131 | ||||||||||||
1,308 | Intel Corp. (Semiconductors & Semiconductor Equipment) | 1.95 | 10/1/16 | 1,345 | ||||||||||||
3,514 | Intel Corp. (Semiconductors & Semiconductor Equipment) | 4.25 | 12/15/42 | 3,105 | ||||||||||||
1,159 | Intel Corp. (Semiconductors & Semiconductor Equipment) | 4.80 | 10/1/41 | 1,130 |
See accompanying notes to financial statements.
143
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$5,190 | JPMorgan Chase & Co. (Diversified Financial Services) | 1.63 | 5/15/18 | $ | 5,082 | |||||||||||
1,679 | KeyBank NA, Series BKNT (Commercial Banks) | 1.65 | 2/1/18 | 1,651 | ||||||||||||
4,554 | Kinder Morgan Energy Partners LP (Oil, Gas & Consumable Fuels), Callable 2/15/42 @ 100.00 | 5.00 | 8/15/42 | 4,206 | ||||||||||||
3,998 | Lazard Group LLC (Capital Markets) | 4.25 | 11/14/20 | 3,989 | ||||||||||||
2,222 | Macy's Retail Holdings, Inc. (Multiline Retail), Callable 8/15/42 @ 100.00 | 4.30 | 2/15/43 | 1,875 | ||||||||||||
1,522 | MassMutual Global Funding LLC (Thrifts & Mortgage Finance) (a) | 2.00 | 4/5/17 | 1,526 | ||||||||||||
1,074 | MidAmerican Energy Holdings Co. (Electric Utilities) | 6.13 | 4/1/36 | 1,220 | ||||||||||||
6,003 | Morgan Stanley (Capital Markets) | 5.00 | 11/24/25 | 6,021 | ||||||||||||
1,054 | Mylan, Inc. (Pharmaceuticals) (a) | 1.80 | 6/24/16 | 1,075 | ||||||||||||
2,394 | Newmont Mining Corp. (Metals & Mining) | 6.25 | 10/1/39 | 2,118 | ||||||||||||
1,148 | Pacific Gas & Electric Co. (Independent Power Producers & Energy Traders), Callable 5/15/43 @ 100.00 | 5.13 | 11/15/43 | 1,185 | ||||||||||||
3,967 | PNC Bank NA (Commercial Banks), Callable 12/28/15 @ 100.00 | 0.80 | 1/28/16 | 3,958 | ||||||||||||
2,300 | Sabmiller Holdings, Inc. (Beverages) (a) | 2.45 | 1/15/17 | 2,355 | ||||||||||||
1,799 | TC Pipelines LP (Oil, Gas & Consumable Fuels) | 4.65 | 6/15/21 | 1,820 | ||||||||||||
1,357 | The Dow Chemical Co. (Chemicals), Callable 5/15/42 @ 100.00 | 4.38 | 11/15/42 | 1,191 | ||||||||||||
1,460 | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), Callable 8/1/43 @ 100.00 | 5.30 | 2/1/44 | 1,476 | ||||||||||||
1,490 | Time Warner, Inc. (Media) | 4.90 | 6/15/42 | 1,414 | ||||||||||||
1,530 | Toyota Motor Credit Corp., MTN (Diversified Financial Services) | 3.20 | 6/17/15 | 1,591 | ||||||||||||
6,841 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 6.55 | 9/15/43 | 8,004 | ||||||||||||
4,430 | Wal-Mart Stores, Inc. (Specialty Retail) | 1.95 | 12/15/18 | 4,414 | ||||||||||||
1,418 | WellPoint, Inc. (Health Care Providers & Services) | 5.10 | 1/15/44 | 1,406 | ||||||||||||
3,241 | Wells Fargo & Co. (Commercial Banks) | 1.25 | 2/13/15 | 3,268 | ||||||||||||
963 | Zoetis, Inc. (Personal Products), Callable 8/1/42 @ 100.00 | 4.70 | 2/1/43 | 900 | ||||||||||||
Total Corporate Bonds | 161,561 | |||||||||||||||
Yankee Dollars — 19.44% | ||||||||||||||||
1,188 | Allied World Assurance Co. Ltd. (Insurance) | 5.50 | 11/15/20 | 1,285 | ||||||||||||
4,564 | AstraZeneca PLC (Pharmaceuticals) | 1.95 | 9/18/19 | 4,435 | ||||||||||||
1,741 | Barrick (PD) Australia Finance Pty Ltd. (Metals & Mining) | 5.95 | 10/15/39 | 1,506 | ||||||||||||
1,507 | Barrick International (Barbados) Corp. (Metals & Mining) (a) | 6.35 | 10/15/36 | 1,350 | ||||||||||||
3,626 | BNP Paribas, MTN (Diversified Banks) | 2.40 | 12/12/18 | 3,615 | ||||||||||||
1,986 | BP Capital Markets PLC (Oil, Gas & Consumable Fuels) | 2.25 | 11/1/16 | 2,055 | ||||||||||||
2,359 | Ensco PLC (Energy Equipment & Services) | 4.70 | 3/15/21 | 2,496 | ||||||||||||
1,826 | Fairfax Financial Holdings Ltd. (Insurance) (a) | 5.80 | 5/15/21 | 1,851 | ||||||||||||
2,537 | Japan Tobacco, Inc. (Tobacco) (a) | 2.10 | 7/23/18 | 2,530 | ||||||||||||
4,120 | Kinross Gold Corp. (Metals & Mining) | 5.13 | 9/1/21 | 3,966 | ||||||||||||
1,351 | Lloyds Banking Group PLC (Diversified Banks) | 2.30 | 11/27/18 | 1,347 | ||||||||||||
1,403 | Perrigo Co. PLC (Pharmaceuticals), Callable 5/15/43 @ 100.00 (a) | 5.30 | 11/15/43 | 1,377 | ||||||||||||
2,516 | SoftBank Corp. (Wireless Telecommunication Services) (a) | 4.50 | 4/15/20 | 2,453 | ||||||||||||
2,292 | TSMC Global Ltd. (Semiconductors & Semiconductor Equipment) (a) | 1.63 | 4/3/18 | 2,195 | ||||||||||||
1,858 | Volkswagen International Finance N.V. (Diversified Financial Services) (a) | 2.38 | 3/22/17 | 1,906 | ||||||||||||
614 | Weatherford Bermuda Holdings Ltd. (Energy Equipment & Services) | 5.13 | 9/15/20 | 660 | ||||||||||||
1,618 | Weatherford Bermuda Holdings Ltd. (Energy Equipment & Services), Callable 10/17/41 @ 100.00 | 5.95 | 4/15/42 | 1,621 |
See accompanying notes to financial statements.
144
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
Shares or Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||||||||||||||
Yankee Dollars (continued) | ||||||||||||||||||||||||||||
$1,094 | Weatherford International Ltd. (Energy Equipment & Services) | 6.50 | 8/1/36 | $ | 1,141 | |||||||||||||||||||||||
1,977 | Wesfarmers Ltd. (Multiline Retail) (a) | 1.87 | 3/20/18 | 1,921 | ||||||||||||||||||||||||
3,991 | Woodside Finance Ltd. (Thrifts & Mortgage Finance), Callable 2/10/21 @ 100.00 (a) | 4.60 | 5/10/21 | 4,180 | ||||||||||||||||||||||||
Total Yankee Dollars | 43,890 | |||||||||||||||||||||||||||
Preferred Stocks — 2.10% | ||||||||||||||||||||||||||||
45,975 | Arch Capital Group Ltd., Series C (Insurance) Callable 4/2/17 @ 25.00 | 1,054 | ||||||||||||||||||||||||||
32,025 | PNC Financial Services Group, Inc., Series P (Regional Banks) Callable 5/1/22 @ 25.00 | 809 | ||||||||||||||||||||||||||
18,300 | Public Storage, Inc., Series U (Real Estate Investment Trusts) Callable 6/15/17 @ 25.00 | 370 | ||||||||||||||||||||||||||
29,725 | Reinsurance Group of America (Insurance) Callable 9/15/22 @ 25.00 | 721 | ||||||||||||||||||||||||||
67,800 | U.S. Bancorp, Series F (Commercial Banks) Callable 1/15/22 @ 25.00 | 1,783 | ||||||||||||||||||||||||||
Total Preferred Stocks | 4,737 | |||||||||||||||||||||||||||
Time Deposit — 0.44% | ||||||||||||||||||||||||||||
$1,000 | State Street Liquidity Management Control System Eurodollar Time Deposit | 0.01 | 1/2/14 | 1,000 | ||||||||||||||||||||||||
Total Time Deposit | 1,000 | |||||||||||||||||||||||||||
Mutual Fund — 4.66% | ||||||||||||||||||||||||||||
10,517,156 | SSgA U.S. Government Money Market Fund (c) | 0.00 | 10,517 | |||||||||||||||||||||||||
Total Mutual Fund | 10,517 | |||||||||||||||||||||||||||
Total Investments (cost $223,715) — 98.20% | 221,705 | |||||||||||||||||||||||||||
Other assets in excess of liabilities — 1.80% | 4,071 | |||||||||||||||||||||||||||
Net Assets — 100.00% | $ | 225,776 |
(a) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(b) | A perpetual bond is one with no maturity date that pays a fixed interest rate forever. |
(c) | The rate disclosed is the rate in effect on December 31, 2013. |
MTN — Medium Term Note
See accompanying notes to financial statements.
145
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Asset Backed Securities — 1.07% | ||||||||||||||||
$350 | Ally Auto Receivables Trust, Series 2012-4, Class A3 | 0.59 | 1/17/17 | $ | 350 | |||||||||||
600 | Capital One Multi-Asset Execution Trust, Series 2006-A3, Class A3 | 5.05 | 12/17/18 | 654 | ||||||||||||
100 | CarMax Auto Owner Trust, Series 2012-2, Class A4 | 1.16 | 12/15/17 | 101 | ||||||||||||
550 | Citibank Credit Card Issuance Trust, Series 2005-A5, Class A5 | 4.55 | 6/20/17 | 582 | ||||||||||||
350 | Honda Auto Receivables Owner Trust, Series 2012-3, Class A4 | 0.74 | 10/15/18 | 351 | ||||||||||||
100 | Mercedes-Benz Auto Lease Trust, Series 2013-A, Class A3 | 0.59 | 2/15/16 | 100 | ||||||||||||
210 | Nissan Auto Lease Trust, Series 2013-A, Class A4 | 0.74 | 10/15/18 | 210 | ||||||||||||
350 | Nissan Auto Receivables Owner Trust, Series 2012-A, Class A4 | 1.00 | 7/16/18 | 352 | ||||||||||||
Total Asset Backed Securities | 2,700 | |||||||||||||||
Collateralized Mortgage Obligations — 5.39% | ||||||||||||||||
370 | Bear Stearns Commercial Mortgage Securities, Inc., Series 2005-PW10, Class A4 | 5.41 | 12/11/40 | 393 | ||||||||||||
900 | Citigroup/Deutsche Bank Commercial Mortgage Trust, Series 2006-CD2, Class AM | 5.35 | 1/15/46 | 966 | ||||||||||||
500 | Commercial Mortgage Trust, Series 2012-CR1, Class A2 | 2.35 | 5/15/45 | 508 | ||||||||||||
400 | Commercial Mortgage Trust, Series 2013-CR8, Class A5 | 3.61 | 6/10/46 | 394 | ||||||||||||
997 | CS First Boston Mortgage Securities Corp., Series 2005-C6, Class A4 | 5.23 | 10/15/15 | 1,054 | ||||||||||||
860 | Greenwich Capital Commercial Funding Corp., Series 2005-GG5, Class AM | 5.28 | 4/10/37 | 913 | ||||||||||||
393 | Greenwich Capital Commercial Funding Corp., Series 2006-GG7, Class A4 | 5.82 | 7/10/38 | 429 | ||||||||||||
1,000 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2012-C8, Class A3 | 2.83 | 10/15/45 | 940 | ||||||||||||
1,000 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2005-LDP1, Class A4 | 5.04 | 3/15/46 | 1,031 | ||||||||||||
115 | LB-UBS Commercial Mortgage Trust, Series 2006-C7, Class AM | 5.38 | 10/15/16 | 124 | ||||||||||||
485 | Merrill Lynch Mortgage Trust, Series 2006-C2, Class A4 | 5.74 | 8/12/43 | 531 | ||||||||||||
656 | Merrill Lynch Mortgage Trust, Series 2007-C1, Class A3 | 5.86 | 11/12/16 | 675 | ||||||||||||
1,745 | Morgan Stanley Capital I, Series 2007-HQ11, Class A4 | 5.45 | 2/12/44 | 1,908 | ||||||||||||
1,310 | Morgan Stanley Capital I, Series 2007-IQ15, Class A4 | 5.91 | 7/11/17 | 1,462 | ||||||||||||
875 | Morgan Stanley Capital I Trust, Series 2006-HQ9, Class A4 | 5.73 | 7/12/44 | 953 | ||||||||||||
250 | UBS Commercial Mortgage Trust, Series 2012-C1, Class AAB | 3.00 | 5/10/45 | 252 | ||||||||||||
1,000 | Wachovia Bank Commercial Mortgage Trust, Series 2006-C26, Class A3 | 6.01 | 6/15/45 | 1,098 | ||||||||||||
Total Collateralized Mortgage Obligations | 13,631 | |||||||||||||||
U.S. Government Agency Mortgages — 95.38% | ||||||||||||||||
1,014 | Fannie Mae, Pool #MA1210 | 2.50 | 9/1/49 | 1,004 | ||||||||||||
215 | Fannie Mae, Pool #AU6387 | 2.50 | 11/1/28 | 213 | ||||||||||||
394 | Fannie Mae, Pool #AU4798 | 2.50 | 9/1/28 | 391 | ||||||||||||
779 | Fannie Mae, Pool #A03019 | 2.50 | 5/1/27 | 773 | ||||||||||||
382 | Fannie Mae, Pool #AU5334 | 2.50 | 11/1/28 | 379 | ||||||||||||
298 | Fannie Mae, Pool #AS0513 | 2.50 | 8/1/43 | 270 | ||||||||||||
97 | Fannie Mae, Pool #MA1270 | 2.50 | 11/1/32 | 92 | ||||||||||||
489 | Fannie Mae, Pool #AU2619 | 2.50 | 8/1/28 | 485 | ||||||||||||
840 | Fannie Mae, Pool #AP4742 | 2.50 | 8/1/27 | 834 | ||||||||||||
950 | Fannie Mae, Pool #MA1277 | 2.50 | 12/1/27 | 944 | ||||||||||||
97 | Fannie Mae, Pool #MA1511 | 2.50 | 7/1/33 | 92 | ||||||||||||
1,450 | Fannie Mae, Pool #AJ1300 | 2.92 | 10/1/41 | 1,524 | ||||||||||||
661 | Fannie Mae, Pool #AB4483 | 3.00 | 2/1/27 | 675 | ||||||||||||
590 | Fannie Mae, Pool #AB8897 | 3.00 | 4/1/43 | 561 | ||||||||||||
593 | Fannie Mae, Pool #AT0682 | 3.00 | 4/1/43 | 563 | ||||||||||||
2,077 | Fannie Mae, Pool #AP6375 | 3.00 | 9/1/42 | 1,974 | ||||||||||||
938 | Fannie Mae, Pool #MA1307 | 3.00 | 1/1/33 | 924 |
See accompanying notes to financial statements.
146
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$847 | Fannie Mae, Pool #AK0006 | 3.00 | 1/1/27 | $ | 865 | |||||||||||
544 | Fannie Mae, Pool #AK8522 | 3.00 | 3/1/27 | 556 | ||||||||||||
287 | Fannie Mae, Pool #MA1401 | 3.00 | 4/1/33 | 282 | ||||||||||||
189 | Fannie Mae, Pool #MA1338 | 3.00 | 2/1/33 | 188 | ||||||||||||
2,157 | Fannie Mae, Pool #AB7099 | 3.00 | 11/1/42 | 2,050 | ||||||||||||
1,266 | Fannie Mae, Pool #AK3302 | 3.00 | 3/1/27 | 1,293 | ||||||||||||
392 | Fannie Mae, Pool #MA1527 | 3.00 | 8/1/33 | 386 | ||||||||||||
600 | Fannie Mae, Pool #AP8746 | 3.00 | 10/1/42 | 570 | ||||||||||||
1,324 | Fannie Mae, Pool #AO0752 | 3.00 | 4/1/42 | 1,259 | ||||||||||||
1,014 | Fannie Mae, Pool #AP2465 | 3.00 | 8/1/42 | 964 | ||||||||||||
1,836 | Fannie Mae, Pool #AP6493 | 3.00 | 9/1/42 | 1,746 | ||||||||||||
599 | Fannie Mae, Pool #AT7311 | 3.00 | 7/1/43 | 569 | ||||||||||||
526 | Fannie Mae, Pool #AT7263 | 3.00 | 9/1/43 | 500 | ||||||||||||
188 | Fannie Mae, Pool #AU7890 | 3.00 | 9/1/28 | 192 | ||||||||||||
70 | Fannie Mae, Pool #AR7426 | 3.00 | 7/1/43 | 67 | ||||||||||||
2,511 | Fannie Mae, Pool #AQ7920 | 3.00 | 12/1/42 | 2,388 | ||||||||||||
98 | Fannie Mae, Pool #AT1575 | 3.00 | 5/1/43 | 93 | ||||||||||||
497 | Fannie Mae, Pool #AS0302 | 3.00 | 8/1/43 | 473 | ||||||||||||
590 | Fannie Mae, Pool #AT2127 | 3.00 | 4/1/43 | 560 | ||||||||||||
1,187 | Fannie Mae, Pool #AU3735 | 3.00 | 8/1/43 | 1,128 | ||||||||||||
2,435 | Fannie Mae, Pool #AB4689 | 3.50 | 3/1/42 | 2,422 | ||||||||||||
3,230 | Fannie Mae, Pool #AO8137 | 3.50 | 8/1/42 | 3,212 | ||||||||||||
1,113 | Fannie Mae, Pool #AP9390 | 3.50 | 10/1/42 | 1,107 | ||||||||||||
2,390 | Fannie Mae, Pool #AB6017 | 3.50 | 8/1/42 | 2,376 | ||||||||||||
74 | Fannie Mae, Pool #MA1021 | 3.50 | 3/1/27 | 78 | ||||||||||||
71 | Fannie Mae, Pool #AJ6181 | 3.50 | 12/1/26 | 74 | ||||||||||||
204 | Fannie Mae, Pool #AK0706 | 3.50 | 2/1/27 | 214 | ||||||||||||
697 | Fannie Mae, Pool #MA1059 | 3.50 | 5/1/32 | 709 | ||||||||||||
711 | Fannie Mae, Pool #MA1107 | 3.50 | 7/1/32 | 724 | ||||||||||||
4,063 | Fannie Mae, Pool #AK7497 | 3.50 | 4/1/42 | 4,040 | ||||||||||||
816 | Fannie Mae, Pool #AO3760 | 3.50 | 5/1/42 | 811 | ||||||||||||
985 | Fannie Mae, Pool #AQ0546 | 3.50 | 11/1/42 | 980 | ||||||||||||
2,108 | Fannie Mae, Pool #AL1717 | 3.50 | 5/1/27 | 2,206 | ||||||||||||
2,841 | Fannie Mae, Pool #AO2548 | 3.50 | 4/1/42 | 2,825 | ||||||||||||
1,059 | Fannie Mae, Pool #MA0641 | 4.00 | 2/1/31 | 1,106 | ||||||||||||
878 | Fannie Mae, Pool #AC7328 | 4.00 | 12/1/39 | 904 | ||||||||||||
198 | Fannie Mae, Pool #AB6027 | 4.00 | 8/1/42 | 204 | ||||||||||||
457 | Fannie Mae, Pool #MA0493 | 4.00 | 8/1/30 | 478 | ||||||||||||
516 | Fannie Mae, Pool #AI6016 | 4.00 | 7/1/41 | 532 | ||||||||||||
4,182 | Fannie Mae, Pool #AH6242 | 4.00 | 4/1/26 | 4,435 | ||||||||||||
1,341 | Fannie Mae, Pool #AJ7857 | 4.00 | 12/1/41 | 1,381 | ||||||||||||
1,874 | Fannie Mae, Pool #AJ7689 | 4.00 | �� | 12/1/41 | 1,930 | |||||||||||
3,166 | Fannie Mae, Pool #190405 | 4.00 | 10/1/40 | 3,261 | ||||||||||||
1,399 | Fannie Mae, Pool #AJ5303 | 4.00 | 11/1/41 | 1,441 | ||||||||||||
398 | Fannie Mae, Pool #AT3872 | 4.00 | 6/1/43 | 410 | ||||||||||||
94 | Fannie Mae, Pool #AH3394 | 4.00 | 1/1/41 | 96 |
See accompanying notes to financial statements.
147
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$834 | Fannie Mae, Pool #AH5859 | 4.00 | 2/1/41 | $ | 859 | |||||||||||
146 | Fannie Mae, Pool #AA0860 | 4.50 | 1/1/39 | 154 | ||||||||||||
1,369 | Fannie Mae, Pool #AH9055 | 4.50 | 4/1/41 | 1,451 | ||||||||||||
295 | Fannie Mae, Pool #AB1389 | 4.50 | 8/1/40 | 312 | ||||||||||||
720 | Fannie Mae, Pool #AI4815 | 4.50 | 6/1/41 | 763 | ||||||||||||
1,440 | Fannie Mae, Pool #AL1107 | 4.50 | 11/1/41 | 1,525 | ||||||||||||
299 | Fannie Mae, Pool #AU5302 | 4.50 | 10/1/43 | 317 | ||||||||||||
85 | Fannie Mae, Pool #AB0390 | 4.50 | 3/1/15 | 90 | ||||||||||||
544 | Fannie Mae, Pool #AA9781 | 4.50 | 7/1/24 | 579 | ||||||||||||
332 | Fannie Mae, Pool #AB0388 | 4.50 | 4/1/19 | 352 | ||||||||||||
789 | Fannie Mae, Pool #MA0481 | 4.50 | 8/1/30 | 841 | ||||||||||||
467 | Fannie Mae, Pool #254720 | 4.50 | 5/1/18 | 497 | ||||||||||||
633 | Fannie Mae, Pool #AB3192 | 4.50 | 6/1/41 | 671 | ||||||||||||
144 | Fannie Mae, Pool #982892 | 4.50 | 5/1/23 | 153 | ||||||||||||
5,426 | Fannie Mae, Pool #AH7521 | 4.50 | 3/1/41 | 5,751 | ||||||||||||
238 | Fannie Mae, Pool #MA0511 | 4.50 | 9/1/30 | 253 | ||||||||||||
2,721 | Fannie Mae, Pool #889117 | 5.00 | 10/1/35 | 2,964 | ||||||||||||
175 | Fannie Mae, Pool #MA0184 | 5.00 | 9/1/29 | 191 | ||||||||||||
2 | Fannie Mae, Pool #650196 | 5.00 | 11/1/17 | 2 | ||||||||||||
258 | Fannie Mae, Pool #725238 | 5.00 | 3/1/34 | 281 | ||||||||||||
3,238 | Fannie Mae, Pool #AH5988 | 5.00 | 3/1/41 | 3,518 | ||||||||||||
5 | Fannie Mae, Pool #868986 | 5.00 | 5/1/21 | 6 | ||||||||||||
470 | Fannie Mae, Pool #725504 | 5.00 | 1/1/19 | 501 | ||||||||||||
484 | Fannie Mae, Pool #796663 | 5.00 | 9/1/19 | 518 | ||||||||||||
225 | Fannie Mae, Pool #545400 | 5.50 | 1/1/17 | 240 | ||||||||||||
73 | Fannie Mae, Pool #545900 | 5.50 | 7/1/17 | 78 | ||||||||||||
10 | Fannie Mae, Pool #630942 | 5.50 | 2/1/17 | 11 | ||||||||||||
2,821 | Fannie Mae, Pool #AD0527 | 5.50 | 6/1/39 | 3,097 | ||||||||||||
5 | Fannie Mae, Pool #A79636 | 5.50 | 7/1/38 | 6 | ||||||||||||
13 | Fannie Mae, Pool #A69671 | 5.50 | 12/1/37 | 14 | ||||||||||||
4,125 | Fannie Mae, Pool #890221 | 5.50 | 12/1/33 | 4,549 | ||||||||||||
132 | Fannie Mae, Pool #AL0725 | 5.50 | 6/1/24 | 141 | ||||||||||||
106 | Fannie Mae, Pool #909662 | 5.50 | 2/1/22 | 116 | ||||||||||||
90 | Fannie Mae, Pool #627241 | 5.50 | 9/1/17 | 95 | ||||||||||||
196 | Fannie Mae, Pool #976945 | 5.50 | 2/1/23 | 215 | ||||||||||||
144 | Fannie Mae, Pool #625938 | 5.50 | 3/1/17 | 153 | ||||||||||||
195 | Fannie Mae, Pool #949500 | 5.50 | 9/1/22 | 214 | ||||||||||||
3,133 | Fannie Mae, Pool #959451 | 6.00 | 12/1/37 | 3,471 | ||||||||||||
3,802 | Fannie Mae, Pool #725228 | 6.00 | 3/1/34 | 4,267 | ||||||||||||
590 | Fannie Mae, Pool #AL0583 | 6.50 | 10/1/39 | 655 | ||||||||||||
179 | Fannie Mae, Pool #888596 | 6.50 | 7/1/37 | 198 | ||||||||||||
777 | Fannie Mae, Pool #889984 | 6.50 | 10/1/38 | 863 | ||||||||||||
904 | Fannie Mae, Pool #AE0442 | 6.50 | 1/1/39 | 1,004 | ||||||||||||
2,400 | Fannie Mae, 15 YR TBA | 2.50 | 1/25/29 | 2,375 | ||||||||||||
900 | Fannie Mae, 15 YR TBA | 3.00 | 1/25/29 | 918 | ||||||||||||
200 | Fannie Mae, 15 YR TBA | 3.50 | 1/25/29 | 209 |
See accompanying notes to financial statements.
148
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$300 | Fannie Mae, 30 YR TBA | 2.50 | 1/25/44 | $ | 271 | |||||||||||
5,000 | Fannie Mae, 30 YR TBA | 4.00 | 1/25/44 | 5,148 | ||||||||||||
500 | Fannie Mae, 30 YR TBA | 4.50 | 1/25/43 | 530 | ||||||||||||
800 | Fannie Mae, 30 YR TBA | 5.00 | 1/25/43 | 869 | ||||||||||||
496 | Freddie Mac, Pool #849138 | 2.46 | 10/1/43 | 500 | ||||||||||||
468 | Freddie Mac, Pool #G18459 | 2.50 | 3/1/28 | 464 | ||||||||||||
68 | Freddie Mac, Pool #G18472 | 2.50 | 7/1/28 | 68 | ||||||||||||
489 | Freddie Mac, Pool #J18954 | 2.50 | 4/1/27 | 485 | ||||||||||||
198 | Freddie Mac, Pool #J25585 | 2.50 | 9/1/28 | 196 | ||||||||||||
319 | Freddie Mac, Pool #J22874 | 2.50 | 3/1/28 | 316 | ||||||||||||
466 | Freddie Mac, Pool #J25016 | 2.50 | 8/1/28 | 462 | ||||||||||||
586 | Freddie Mac, Pool #J23440 | 2.50 | 4/1/28 | 581 | ||||||||||||
198 | Freddie Mac, Pool #G18485 | 2.50 | 10/1/28 | 196 | ||||||||||||
500 | Freddie Mac, Pool #G18470 | 2.50 | 6/1/28 | 496 | ||||||||||||
2,287 | Freddie Mac, Pool #1B7911 | 2.72 | 12/1/40 | 2,387 | ||||||||||||
30 | Freddie Mac, Pool #Q18882 | 3.00 | 5/1/43 | 29 | ||||||||||||
500 | Freddie Mac, Pool #Q20964 | 3.00 | 8/1/43 | 474 | ||||||||||||
599 | Freddie Mac, Pool #Q16222 | 3.00 | 3/1/43 | 568 | ||||||||||||
1,084 | Freddie Mac, Pool #G08537 | 3.00 | 7/1/43 | 1,028 | ||||||||||||
487 | Freddie Mac, Pool #G08525 | 3.00 | 5/1/43 | 462 | ||||||||||||
480 | Freddie Mac, Pool #C04446 | 3.00 | 1/1/43 | 455 | ||||||||||||
463 | Freddie Mac, Pool #C91581 | 3.00 | 11/1/32 | 457 | ||||||||||||
872 | Freddie Mac, Pool #G08534 | 3.00 | 6/1/43 | 827 | ||||||||||||
297 | Freddie Mac, Pool #C91724 | 3.00 | 9/1/33 | 293 | ||||||||||||
853 | Freddie Mac, Pool #Q21065 | 3.00 | 8/1/43 | 809 | ||||||||||||
99 | Freddie Mac, Pool #Q18599 | 3.00 | 6/1/43 | 94 | ||||||||||||
289 | Freddie Mac, Pool #K90311 | 3.00 | 4/1/33 | 286 | ||||||||||||
24 | Freddie Mac, Pool #Q13086 | 3.00 | 11/1/42 | 22 | ||||||||||||
100 | Freddie Mac, Pool #C03920 | 3.50 | 5/1/42 | 99 | ||||||||||||
400 | Freddie Mac, Pool #Q08903 | 3.50 | 6/1/42 | 397 | ||||||||||||
800 | Freddie Mac, Pool #C91456 | 3.50 | 6/1/32 | 816 | ||||||||||||
455 | Freddie Mac, Pool #C91403 | 3.50 | 3/1/32 | 464 | ||||||||||||
3,463 | Freddie Mac, Pool #G08495 | 3.50 | 6/1/42 | 3,440 | ||||||||||||
152 | Freddie Mac, Pool #G08483 | 4.00 | 3/1/42 | 157 | ||||||||||||
750 | Freddie Mac, Pool #J11263 | 4.00 | 11/1/19 | 792 | ||||||||||||
202 | Freddie Mac, Pool #Q04411 | 4.00 | 11/1/41 | 208 | ||||||||||||
94 | Freddie Mac, Pool #G14786 | 4.00 | 4/1/19 | 99 | ||||||||||||
4,494 | Freddie Mac, Pool #A96286 | 4.00 | 1/1/41 | 4,620 | ||||||||||||
473 | Freddie Mac, Pool #G08459 | 4.00 | 9/1/41 | 486 | ||||||||||||
11 | Freddie Mac, Pool #B12556 | 4.00 | 3/1/14 | 12 | ||||||||||||
168 | Freddie Mac, Pool #Q05770 | 4.00 | 1/1/42 | 172 | ||||||||||||
462 | Freddie Mac, Pool #G14453 | 4.00 | 6/1/26 | 488 | ||||||||||||
318 | Freddie Mac, Pool #J09503 | 4.50 | 4/1/24 | 341 | ||||||||||||
100 | Freddie Mac, Pool #357316 | 4.50 | 12/1/17 | 106 | ||||||||||||
265 | Freddie Mac, Pool #E02862 | 4.50 | 3/1/26 | 284 | ||||||||||||
619 | Freddie Mac, Pool #A97495 | 4.50 | 3/1/41 | 655 |
See accompanying notes to financial statements.
149
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$6,753 | Freddie Mac, Pool #A97692 | 4.50 | 3/1/41 | $ | 7,158 | |||||||||||
431 | Freddie Mac, Pool #J09311 | 4.50 | 2/1/24 | 462 | ||||||||||||
152 | Freddie Mac, Pool #J07849 | 4.50 | 5/1/23 | 163 | ||||||||||||
43 | Freddie Mac, Pool #1G2883 | 4.88 | 6/1/38 | 45 | ||||||||||||
3,193 | Freddie Mac, Pool #G04913 | 5.00 | 3/1/38 | 3,439 | ||||||||||||
200 | Freddie Mac, Pool #E96297 | 5.00 | 5/1/18 | 212 | ||||||||||||
369 | Freddie Mac, Pool #G13255 | 5.00 | 7/1/23 | 398 | ||||||||||||
1,987 | Freddie Mac, Pool #C01598 | 5.00 | 8/1/33 | 2,151 | ||||||||||||
72 | Freddie Mac, Pool #G30371 | 5.50 | 12/1/27 | 79 | ||||||||||||
910 | Freddie Mac, Pool #G06031 | 5.50 | 3/1/40 | 992 | ||||||||||||
2,719 | Freddie Mac, Pool #G01665 | 5.50 | 3/1/34 | 2,990 | ||||||||||||
14 | Freddie Mac, Pool #G06091 | 5.50 | 5/1/40 | 15 | ||||||||||||
84 | Freddie Mac, Pool #G30414 | 5.50 | 7/1/28 | 92 | ||||||||||||
1,355 | Freddie Mac, Pool #G02794 | 6.00 | 5/1/37 | 1,500 | ||||||||||||
288 | Freddie Mac, Pool #G03551 | 6.00 | 11/1/37 | 318 | ||||||||||||
148 | Freddie Mac, Pool #A62706 | 6.00 | 6/1/37 | 164 | ||||||||||||
181 | Freddie Mac, Pool #G05709 | 6.00 | 6/1/38 | 201 | ||||||||||||
1,900 | Freddie Mac, Gold 15 YR TBA | 2.50 | 1/15/29 | 1,882 | ||||||||||||
2,800 | Freddie Mac, Gold 15 YR TBA | 3.00 | 1/15/29 | 2,852 | ||||||||||||
1,600 | Freddie Mac, Gold 15 YR TBA | 3.50 | 1/15/29 | 1,668 | ||||||||||||
100 | Freddie Mac, Gold 30 YR TBA | 2.50 | 1/15/44 | 90 | ||||||||||||
3,500 | Freddie Mac, Gold 30 YR TBA | 3.00 | 1/15/44 | 3,315 | ||||||||||||
4,400 | Freddie Mac, Gold 30 YR TBA | 3.50 | 1/15/44 | 4,367 | ||||||||||||
1,800 | Freddie Mac, Gold 30 YR TBA | 4.00 | 1/15/44 | 1,849 | ||||||||||||
269 | Government National Mortgage Association, Pool #MA0483 | 2.00 | 10/20/42 | 279 | ||||||||||||
279 | Government National Mortgage Association, Pool #MA0719 | 2.00 | 1/20/43 | 288 | ||||||||||||
98 | Government National Mortgage Association, Pool #MA1109 | 2.00 | 6/20/43 | 101 | ||||||||||||
259 | Government National Mortgage Association, Pool #MA0712 | 2.50 | 1/20/43 | 268 | ||||||||||||
199 | Government National Mortgage Association, Pool #MA1283 | 2.50 | 9/20/43 | 183 | ||||||||||||
187 | Government National Mortgage Association, Pool #AA8341 | 2.50 | 2/15/28 | 185 | ||||||||||||
97 | Government National Mortgage Association, Pool #MA1133 | 2.50 | 7/20/28 | 97 | ||||||||||||
183 | Government National Mortgage Association, Pool #MA0601 | 2.50 | 12/20/27 | 183 | ||||||||||||
192 | Government National Mortgage Association, Pool #MA0851 | 3.00 | 3/20/43 | 186 | ||||||||||||
497 | Government National Mortgage Association, Pool #AG0440 | 3.00 | 8/15/43 | 481 | ||||||||||||
499 | Government National Mortgage Association, Pool #MA1374 | 3.00 | 10/20/43 | 483 | ||||||||||||
266 | Government National Mortgage Association, Pool #MA0444 | 3.00 | 10/20/27 | 273 | ||||||||||||
671 | Government National Mortgage Association, Pool #MA0391 | 3.00 | 9/20/42 | 650 | ||||||||||||
499 | Government National Mortgage Association, Pool #AA2654 | 3.00 | 6/15/43 | 483 | ||||||||||||
3,216 | Government National Mortgage Association, Pool #MA0624 | 3.00 | 12/20/42 | 3,113 | ||||||||||||
397 | Government National Mortgage Association, Pool #AD8433 | 3.00 | 7/15/43 | 384 | ||||||||||||
197 | Government National Mortgage Association, Pool #MA1265 | 3.00 | 9/20/28 | 202 | ||||||||||||
488 | Government National Mortgage Association, Pool #AA6149 | 3.00 | 3/20/43 | 472 | ||||||||||||
352 | Government National Mortgage Association, Pool #MA0205 | 3.00 | 7/20/27 | 362 | ||||||||||||
2,571 | Government National Mortgage Association, Pool #MA0220 | 3.50 | 7/20/42 | 2,598 | ||||||||||||
823 | Government National Mortgage Association, Pool #MA0088 | 3.50 | 5/20/42 | 832 | ||||||||||||
954 | Government National Mortgage Association, Pool #MA0934 | 3.50 | 4/20/43 | 964 |
See accompanying notes to financial statements.
150
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$385 | Government National Mortgage Association, Pool #738602 | 3.50 | 8/15/26 | $ | 402 | |||||||||||
939 | Government National Mortgage Association, Pool #MA0852 | 3.50 | 3/20/43 | 948 | ||||||||||||
482 | Government National Mortgage Association, Pool #778157 | 3.50 | 3/15/42 | 486 | ||||||||||||
393 | Government National Mortgage Association, Pool #AC3938 | 3.50 | 1/15/43 | 397 | ||||||||||||
1,061 | Government National Mortgage Association, Pool #MA0462 | 3.50 | 10/20/42 | 1,072 | ||||||||||||
2,152 | Government National Mortgage Association, Pool #005139 | 4.00 | 8/20/41 | 2,242 | ||||||||||||
119 | Government National Mortgage Association, Pool #779401 | 4.00 | 6/15/42 | 124 | ||||||||||||
464 | Government National Mortgage Association, Pool #MA0319 | 4.00 | 8/20/42 | 483 | ||||||||||||
574 | Government National Mortgage Association, Pool #753254 | 4.00 | 9/15/43 | 598 | ||||||||||||
397 | Government National Mortgage Association, Pool #MA1286 | 4.00 | 9/20/43 | 413 | ||||||||||||
281 | Government National Mortgage Association, Pool #738710 | 4.00 | 9/15/41 | 293 | ||||||||||||
448 | Government National Mortgage Association, Pool #713876 | 4.00 | 8/15/39 | 466 | ||||||||||||
479 | Government National Mortgage Association, Pool #MA0701 | 4.50 | 1/20/43 | 514 | ||||||||||||
3,958 | Government National Mortgage Association, Pool #004801 | 4.50 | 9/20/40 | 4,259 | ||||||||||||
551 | Government National Mortgage Association, Pool #005260 | 4.50 | 12/20/41 | 590 | ||||||||||||
185 | Government National Mortgage Association, Pool #MA1092 | 4.50 | 6/20/43 | 199 | ||||||||||||
2,831 | Government National Mortgage Association, Pool #721760 | 4.50 | 8/15/40 | 3,051 | ||||||||||||
2,436 | Government National Mortgage Association, Pool #717148 | 4.50 | 5/15/39 | 2,626 | ||||||||||||
609 | Government National Mortgage Association, Pool #782523 | 5.00 | 11/15/35 | 666 | ||||||||||||
363 | Government National Mortgage Association, Pool #712690 | 5.00 | 4/15/39 | 395 | ||||||||||||
76 | Government National Mortgage Association, Pool #MA0465 | 5.00 | 10/20/42 | 83 | ||||||||||||
3,474 | Government National Mortgage Association, Pool #004559 | 5.00 | 10/20/39 | 3,804 | ||||||||||||
337 | Government National Mortgage Association, Pool #604285 | 5.00 | 5/15/33 | 369 | ||||||||||||
919 | Government National Mortgage Association, Pool #782468 | 5.00 | 11/15/38 | 998 | ||||||||||||
163 | Government National Mortgage Association, Pool #675179 | 5.00 | 3/15/38 | 176 | ||||||||||||
523 | Government National Mortgage Association, Pool #694531 | 5.00 | 11/15/38 | 568 | ||||||||||||
7 | Government National Mortgage Association, Pool #673496 | 5.00 | 4/15/38 | 7 | ||||||||||||
384 | Government National Mortgage Association, Pool #MA0538 | 5.50 | 11/20/42 | 425 | ||||||||||||
203 | Government National Mortgage Association, Pool #658181 | 5.50 | 11/15/36 | 224 | ||||||||||||
776 | Government National Mortgage Association, Pool #510835 | 5.50 | 2/15/35 | 862 | ||||||||||||
400 | Government National Mortgage Association, Pool #MA0466 | 5.50 | 10/20/42 | 442 | ||||||||||||
657 | Government National Mortgage Association, Pool #783284 | 5.50 | 6/20/40 | 724 | ||||||||||||
320 | Government National Mortgage Association, Pool #004222 | 6.00 | 8/20/38 | 360 | ||||||||||||
365 | Government National Mortgage Association, Pool #004245 | 6.00 | 9/20/38 | 405 | ||||||||||||
1,026 | Government National Mortgage Association, Pool #781959 | 6.00 | 7/15/35 | 1,150 | ||||||||||||
4 | Government National Mortgage Association, Pool #690789 | 6.50 | 5/15/38 | 4 | ||||||||||||
103 | Government National Mortgage Association, Pool #695773 | 6.50 | 11/15/38 | 115 | ||||||||||||
193 | Government National Mortgage Association, Pool #699237 | 6.50 | 9/15/38 | 215 | ||||||||||||
147 | Government National Mortgage Association, Pool #694642 | 6.50 | 8/15/38 | 164 | ||||||||||||
200 | Government National Mortgage Association, 30 YR TBA | 2.50 | 1/15/44 | 184 | ||||||||||||
600 | Government National Mortgage Association, 30 YR TBA | 3.00 | 2/15/44 | 579 | ||||||||||||
4,200 | Government National Mortgage Association, 30 YR TBA | 3.00 | 2/20/44 | 4,058 | ||||||||||||
1,200 | Government National Mortgage Association, 30 YR TBA | 3.50 | 1/15/44 | 1,209 | ||||||||||||
5,100 | Government National Mortgage Association, 30 YR TBA | 3.50 | 1/20/44 | 5,146 |
See accompanying notes to financial statements.
151
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
Shares or Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$3,400 | Government National Mortgage Association, 30 YR TBA | 4.00 | 1/20/44 | $ | 3,535 | |||||||||||
1,400 | Government National Mortgage Association, 30 YR TBA | 4.00 | 1/15/44 | 1,455 | ||||||||||||
700 | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/20/44 | 748 | ||||||||||||
Total U.S. Government Agency Mortgages | 241,332 | |||||||||||||||
Mutual Funds — 14.32% | ||||||||||||||||
5,128,559 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares (a) | 0.00 | 5,129 | |||||||||||||
31,103,411 | SSgA Treasury Money Market Fund (a) | 0.00 | 31,103 | |||||||||||||
Total Mutual Funds | 36,232 | |||||||||||||||
Total Investments Before TBA Sale Commitments (cost $295,833) — 116.16% | 293,895 | |||||||||||||||
TBA Sale Commitments (b) — (4.85)% | ||||||||||||||||
$(100) | Fannie Mae, 15 YR TBA | 5.50 | 1/25/29 | (106 | ) | |||||||||||
(1,950) | Fannie Mae, 15 YR TBA | 4.00 | 1/25/28 | (2,067 | ) | |||||||||||
(5,000) | Fannie Mae, 30 YR TBA | 6.00 | 1/25/44 | (5,546 | ) | |||||||||||
(800) | Fannie Mae, 30 YR TBA | 5.50 | 1/25/43 | (880 | ) | |||||||||||
(2,000) | Fannie Mae, 30 YR TBA | 3.50 | 1/25/42 | (1,987 | ) | |||||||||||
(400) | Freddie Mac, Gold 30 YR TBA | 5.00 | 1/15/44 | (431 | ) | |||||||||||
(100) | Freddie Mac, Gold 30 YR TBA | 5.50 | 1/15/43 | (109 | ) | |||||||||||
(100) | Government National Mortgage Association, 30 YR TBA | 5.00 | 1/15/43 | (108 | ) | |||||||||||
(1,000) | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/15/44 | (1,067 | ) | |||||||||||
Total TBA Sale Commitments | (12,301 | ) | ||||||||||||||
Liabilities in excess of other assets — (11.31)% | (28,618 | ) | ||||||||||||||
Net Assets — 100.00% | $ | 252,976 |
(a) | The rate disclosed is the rate in effect on December 31, 2013. |
(b) | Represents a “to be announced” transaction. The Portfolio has committed to sell securities for which all specific information is not available at this time. (See Note 2 in the Notes to Portfolio of Investments.) |
TBA — Security is subject to delayed delivery
See accompanying notes to financial statements.
152
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds — 96.75% | ||||||||||||||||
Arizona — 5.55% | ||||||||||||||||
$650 | Arizona State Transportation Board Grant Anticipation Notes, Revenue, Series A | 5.00 | 7/1/17 | $ | 740 | |||||||||||
500 | Phoenix Arizona Civic Improvement Corp. Excise Tax Revenue, Senior Lien, Series A | 3.00 | 7/1/15 | 520 | ||||||||||||
1,260 | ||||||||||||||||
California — 3.56% | ||||||||||||||||
765 | California State, GO | 5.00 | 4/1/15 | 810 | ||||||||||||
Colorado — 2.35% | ||||||||||||||||
500 | Colorado Springs Co. Utilities Revenue, Series C-1 | 4.00 | 11/15/15 | 533 | ||||||||||||
Delaware — 3.07% | ||||||||||||||||
670 | New Castle County Delaware, GO, Series A | 3.00 | 7/15/15 | 698 | ||||||||||||
Florida — 4.21% | ||||||||||||||||
500 | JEA Florida Electric System Revenue, Series 3-D-1 | 3.00 | 10/1/14 | 510 | ||||||||||||
255 | Port St. Lucie Florida Utility Revenue (NATL-RE) | 5.00 | 9/1/16 | 281 | ||||||||||||
150 | Tallahassee Florida Energy System Revenue | 5.00 | 10/1/16 | 167 | ||||||||||||
958 | ||||||||||||||||
Illinois — 11.32% | ||||||||||||||||
755 | Cook County Township Illinois High School District #211 Palatine/Schaumburg, GO | 1.00 | 12/1/14 | 759 | ||||||||||||
300 | Cook County Illinois Community College District No. 535 Oakton, GO | 4.00 | 12/1/14 | 310 | ||||||||||||
500 | Kane County Illinois Forest Preserve District, GO | 4.00 | 12/15/15 | 534 | ||||||||||||
310 | Lake County Illinois Adlai E. Stevenson High School District No. 125 Prairie, GO, Callable 1/1/15 @ 100.00 | 5.00 | 1/1/19 | 325 | ||||||||||||
90 | Lake County Illinois Adlai E. Stevenson High School District No. 125 Prairie, GO, Callable 1/1/15 @ 100.00 | 5.00 | 1/1/19 | 94 | ||||||||||||
500 | Regional Transportation Authority Revenue (AGM/GO of Authority) | 5.75 | 6/1/16 | 552 | ||||||||||||
2,574 | ||||||||||||||||
Iowa — 3.68% | ||||||||||||||||
250 | Waukee Iowa Community School District, Capital Loan Notes, GO, Series A | 4.00 | 6/1/14 | 254 | ||||||||||||
500 | West Des Moines Iowa, GO, Series B | 5.00 | 6/1/18 | 581 | ||||||||||||
835 | ||||||||||||||||
Michigan — 11.78% | ||||||||||||||||
400 | Grand Rapids Michigan Water Supply System Revenue | 4.00 | 1/1/15 | 414 | ||||||||||||
1,000 | Michigan State, GO, Series A | 4.00 | 11/1/16 | 1,094 | ||||||||||||
600 | Michigan State Comprehensive Transportation Revenue | 5.00 | 11/15/14 | 625 | ||||||||||||
500 | Michigan State Trunk Line Revenue (NATL-RE/FGIC) | 5.25 | 11/1/15 | 543 | ||||||||||||
2,676 | ||||||||||||||||
Nebraska — 3.96% | ||||||||||||||||
900 | Nebraska Public Power District Revenue, Series A (NATL-RE/FGIC) | 5.00 | 1/1/14 | 900 | ||||||||||||
New Jersey — 2.68% | ||||||||||||||||
600 | Lacey New Jersey Municipal Utilities Authority Revenue | 2.00 | 12/1/14 | 609 | ||||||||||||
New Mexico — 2.53% | ||||||||||||||||
500 | New Mexico Finance Authority State Transportation Revenue, Series A-2 | 5.00 | 12/15/17 | 576 | ||||||||||||
New York — 7.61% | ||||||||||||||||
1,500 | New York City Transitional Finance Authority Revenue, Series D | 5.00 | 11/1/17 | 1,730 | ||||||||||||
North Carolina — 1.79% | ||||||||||||||||
400 | North Carolina State Turnpike Authority Monroe Connector System Appropriation Revenue | 4.00 | 7/1/14 | 408 | ||||||||||||
Ohio — 3.37% | ||||||||||||||||
730 | Ohio State, GO | 3.00 | 11/1/15 | 766 |
See accompanying notes to financial statements.
153
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
Shares or Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Pennsylvania — 1.71% | ||||||||||||||||
$380 | South Eastern Pennsylvania School District York County, GO (State Aid Withholding) | 2.00 | 2/15/16 | $ | 389 | |||||||||||
Rhode Island — 2.27% | ||||||||||||||||
500 | Rhode Island State Clean Water Finance Agency Pollution Control Revenue | 4.75 | 10/1/22 | 517 | ||||||||||||
Tennessee — 2.58% | ||||||||||||||||
525 | Tennessee State School Bond Authority Revenue, Series A | 4.00 | 11/1/17 | 587 | ||||||||||||
Texas — 11.41% | ||||||||||||||||
735 | Austin Texas Independent School District, GO, Series A | 3.00 | 8/1/14 | 747 | ||||||||||||
745 | College Station Texas, GO | 5.00 | 2/15/16 | 813 | ||||||||||||
400 | Hurst-Euless-Bedford Texas Independent School District, GO (PSF-GTD) | 5.00 | 8/15/17 | 458 | ||||||||||||
310 | League City Texas, GO, Series A | 4.00 | 2/15/15 | 323 | ||||||||||||
250 | Texas State University Systems Financing Revenue, Series A | 4.00 | 3/15/14 | 252 | ||||||||||||
2,593 | ||||||||||||||||
Utah — 2.46% | ||||||||||||||||
500 | Washington County Utah Water Conservancy District Revenue | 5.25 | 10/1/16 | 560 | ||||||||||||
Washington — 6.09% | ||||||||||||||||
200 | Cascade Water Alliance Washington Water System Revenue (AMBAC) | 5.00 | 9/1/15 | 215 | ||||||||||||
275 | King County Washington, Go, Series B | 4.00 | 12/1/16 | 302 | ||||||||||||
800 | Washington State Health Care Facilities Authority, Catholic Health, Revenue, Series A | 5.00 | 2/1/16 | 865 | ||||||||||||
1,382 | ||||||||||||||||
Wisconsin — 2.77% | ||||||||||||||||
600 | Madison Wisconsin Area Technical College, Promissory Notes, GO, Series B | 3.00 | 3/1/16 | 631 | ||||||||||||
Total Municipal Bonds | 21,992 | |||||||||||||||
Mutual Fund — 2.24% | ||||||||||||||||
509,395 | State Street Institutional Tax Free Money Market Fund, Institutional Shares (a) | 0.00 | 509 | |||||||||||||
Total Mutual Fund | 509 | |||||||||||||||
Total Investments (cost $22,102) — 98.99% | 22,501 | |||||||||||||||
Other assets in excess of liabilities — 1.01% | 229 | |||||||||||||||
Net Assets — 100.00% | $ | 22,730 |
(a) | The rate disclosed is the rate in effect on December 31, 2013. |
AGM — Assured Guaranty Municipal Corporation
AMBAC — American Municipal Bond Assurance Corporation
FGIC — Financial Guaranty Insurance Company
GO — General Obligation
NATL-RE — Reinsurance provided by National Reinsurance
PSF-GTD — Public School Fund Guaranteed
See accompanying notes to financial statements.
154
HC CAPITAL TRUST
The Intermediate Term Municipal Bond
Portfolio of Investments — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds — 98.64% | ||||||||||||||||
Alabama — 1.86% | ||||||||||||||||
$1,500 | Alabama State Public School & College Authority Revenue, Series A | 5.00 | 5/1/18 | $ | 1,733 | |||||||||||
2,500 | Birmingham Alabama Waterworks Board Water Revenue, Series A, Callable 1/1/19 @ 100.00 (Assured GTY) | 5.00 | 1/1/21 | 2,775 | ||||||||||||
2,920 | Birmingham Alabama Waterworks Board Water Revenue, Series A, Callable 1/1/19 @ 100.00 (Assured GTY) | 5.00 | 1/1/22 | 3,196 | ||||||||||||
7,704 | ||||||||||||||||
Alaska — 0.61% | ||||||||||||||||
2,265 | Alaska Industrial Development & Export Authority Revenue, Revolving Fund, Series A, Callable 4/1/20 @ 100.00 (GO of Authority) | 5.25 | 4/1/22 | 2,519 | ||||||||||||
Arizona — 0.46% | ||||||||||||||||
1,625 | Phoenix Arizona Civic Improvement Corp. Transportation Excise Tax Revenue | 5.00 | 7/1/18 | 1,886 | ||||||||||||
California — 15.40% | ||||||||||||||||
5,000 | California State, GO, Callable 4/1/19 @ 100.00 | 5.50 | 4/1/21 | 5,714 | ||||||||||||
5,000 | California State, GO, Callable 10/1/19 @ 100.00 | 5.25 | 10/1/20 | 5,786 | ||||||||||||
4,060 | California State Department of Water Resources Revenue, Central Valley Project | 5.25 | 7/1/22 | 4,065 | ||||||||||||
5,000 | California State Economic Recovery, GO, Series A, Callable 7/1/19 @ 100.00 | 5.00 | 7/1/20 | 5,839 | ||||||||||||
5,000 | California State Economic Recovery, GO, Series A | 5.00 | 7/1/18 | 5,860 | ||||||||||||
1,000 | California State Public Works Board Lease Revenue, Department of Forestry & Fire, Series E | 5.00 | 11/1/22 | 1,091 | ||||||||||||
685 | California Statewide Communities Development Authority, Multi-Family, Pioneer Park, Series T, AMT (GNMA) | 6.10 | 12/20/20 | 686 | ||||||||||||
2,661 | Knightsen School District Lease Certificates California, Flexfund Program (a) | 4.75 | 12/1/27 | 2,524 | ||||||||||||
2,500 | Los Angeles California Department of Water & Power System Revenue, Series A | 5.00 | 7/1/20 | 2,964 | ||||||||||||
1,650 | Los Angeles California Department of Water & Power System Revenue, Series A | 5.00 | 7/1/21 | 1,956 | ||||||||||||
4,200 | Los Angeles California Harbor Department Revenue, Series B, AMT (NATL-RE/FGIC) | 5.00 | 8/1/16 | 4,636 | ||||||||||||
5,000 | Los Angeles California Harbor Department Revenue, Series C, Callable 8/1/19 @ 100.00 | 5.25 | 8/1/22 | 5,603 | ||||||||||||
2,500 | Los Angeles California Wastewater System Revenue, Series A | 5.00 | 6/1/20 | 2,954 | ||||||||||||
1,250 | North Natomas California Community Facilities District Special Tax Revenue, Series E | 5.00 | 9/1/18 | 1,356 | ||||||||||||
5,000 | Orange County California Sanitation District Wastewater Revenue, Series A | 5.00 | 2/1/22 | 5,916 | ||||||||||||
3,500 | San Francisco California City & County Airports Commission International Terminal Revenue, AMT | 5.25 | 5/1/18 | 4,007 | ||||||||||||
2,500 | University of California Revenue, Series Q, Callable 5/15/17 @ 101.00 | 5.25 | 5/15/23 | 2,826 | ||||||||||||
63,783 | ||||||||||||||||
Colorado — 1.26% | ||||||||||||||||
3,495 | Colorado State Educational & Cultural Facilities Authority Revenue, Series B | 5.00 | 4/1/19 | 3,921 | ||||||||||||
1,150 | Denver City & County Colorado Airport Revenue, Series A, AMT | 5.00 | 11/15/19 | 1,281 | ||||||||||||
5,202 | ||||||||||||||||
Connecticut — 0.66% | ||||||||||||||||
2,420 | Connecticut State Special Tax Obligation Revenue, Transportation Infrastructure | 5.00 | 1/1/17 | 2,723 | ||||||||||||
Delaware — 0.16% | ||||||||||||||||
645 | Delaware State Housing Authority Revenue, Single Family Mortgage, Series A, AMT (AGM) | 5.80 | 7/1/35 | 657 | ||||||||||||
Florida — 8.92% | ||||||||||||||||
5,000 | Citizens Property Insurance Corp. Florida Revenue, Series A-1 | 6.00 | 6/1/16 | 5,596 | ||||||||||||
3,000 | Citizens Property Insurance Corp. Florida Revenue, Series A-1 | 5.25 | 6/1/17 | 3,381 | ||||||||||||
2,000 | Citizens Property Insurance Corp. Florida Revenue, Series A-1 | 5.00 | 6/1/19 | 2,270 | ||||||||||||
2,795 | Clearwater Florida Water & Sewer Revenue, Series B | 5.00 | 12/1/17 | 3,164 |
See accompanying notes to financial statements.
155
HC CAPITAL TRUST
The Intermediate Term Municipal Bond
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Florida (continued) | ||||||||||||||||
$895 | Escambia County Florida Housing Finance Authority, Single Family Mortgage Revenue (FHLMC/GNMA/FNMA) | 4.63 | 10/1/28 | $ | 934 | |||||||||||
2,000 | Florida Hurricane Catastrophe Fund Finance Corp. Revenue, Series A | 5.00 | 7/1/16 | 2,210 | ||||||||||||
2,000 | Florida State Municipal Power Agency Revenue, Series A, Callable 10/1/19 @ 100.00 | 5.25 | 10/1/22 | 2,235 | ||||||||||||
4,475 | Hillsborough County Port District Revenue, Tampa Port Authority Project, Series A, AMT, Callable 6/1/15 @ 100.00 (NATL-RE) | 5.00 | 6/1/19 | 4,646 | ||||||||||||
2,245 | Hillsborough County Florida Solid Waste & Resource Recovery Revenue, Series A, AMT, Callable 9/1/16 @ 100.00 (AMBAC) | 5.00 | 9/1/18 | 2,428 | ||||||||||||
4,700 | Lakeland Florida Energy System Revenue, Series B (AGM) | 5.00 | 10/1/17 | 5,351 | ||||||||||||
1,000 | Lakeland Florida Electric & Water Revenue, ETM | 5.75 | 10/1/19 | 1,093 | ||||||||||||
3,250 | Orlando & Orange County Expressway Authority Revenue, Series B | 5.00 | 7/1/17 | 3,664 | ||||||||||||
36,972 | ||||||||||||||||
Georgia — 4.77% | ||||||||||||||||
3,650 | Atlanta Georgia Water & Wastewater Revenue, Series A, Callable 11/1/19 @ 100.00 | 6.00 | 11/1/21 | 4,288 | ||||||||||||
1,700 | Atlanta Georgia Water & Wastewater Revenue, Series B | 5.00 | 11/1/19 | 1,968 | ||||||||||||
5,000 | DeKalb County Georgia School District, Sales Tax, GO (State Aid Withholding) | 4.00 | 11/1/17 | 5,572 | ||||||||||||
4,500 | Metropolitan Atlanta Georgia Rapid Transit Authority Sales Tax Revenue, Series A (NATL-RE) | 5.00 | 7/1/19 | 5,236 | ||||||||||||
1,000 | Municipal Electric Authority of Georgia Revenue, SUB, Series D, Callable 7/1/18 @ 100.00 | 5.75 | 1/1/19 | 1,165 | ||||||||||||
1,500 | Savannah Georgia Economic Development Authority Solid Waste Disposal Revenue, Waste Management Project, Series A, AMT | 5.50 | 7/1/16 | 1,620 | ||||||||||||
19,849 | ||||||||||||||||
Hawaii — 1.95% | ||||||||||||||||
6,100 | Hawaii State Airports System Revenue, Series B, AMT | 5.00 | 7/1/16 | 6,687 | ||||||||||||
1,575 | Hawaii State Department of Budget & Finance Special Purpose Revenue, Queens Health System, Series B (AMBAC) (b) | 0.21 | 7/1/24 | 1,452 | ||||||||||||
8,139 | ||||||||||||||||
Idaho — 0.41% | ||||||||||||||||
170 | Idaho Housing & Finance Association, Single Family Mortgage Revenue, Series E, Class III, AMT | 5.30 | 1/1/22 | 170 | ||||||||||||
1,545 | Idaho Housing & Finance Association, Single Family Mortgage Revenue, Series B, Class III, AMT | 5.40 | 7/1/28 | 1,566 | ||||||||||||
1,736 | ||||||||||||||||
Illinois — 6.07% | ||||||||||||||||
1,825 | Chicago Illinois, GO, Series A, Callable 1/1/18 @ 100.00 | 5.00 | 1/1/19 | 1,965 | ||||||||||||
2,500 | Chicago Illinois, GO, Series A, Callable 1/1/15 @ 100.00 (AGM) | 5.00 | 1/1/17 | 2,590 | ||||||||||||
2,755 | Chicago Illinois Certificates of Participation, Tax Increment Allocation Revenue, Diversey/Narragansett Project, Series NT, Callable 2/10/14 @ 100.00 (a) | 7.46 | 2/15/26 | 2,095 | ||||||||||||
325 | Illinois State Educational Facilities Authority Revenue (c) | — | 7/1/14 | 324 | ||||||||||||
3,250 | Illinois State, GO, Series A | 5.00 | 4/1/20 | 3,579 | ||||||||||||
2,500 | Illinois State, GO | 4.00 | 7/1/16 | 2,666 | ||||||||||||
2,440 | Illinois State, GO | 5.00 | 7/1/17 | 2,702 | ||||||||||||
3,000 | Illinois State Sales Tax Revenue, Junior Obligation | �� | 5.00 | 6/15/17 | 3,398 | |||||||||||
2,500 | Illinois State Unemployment Insurance Fund Building Receipts Revenue, Series B, Callable 6/15/15 @ 100.00 | 5.00 | 6/15/19 | 2,650 | ||||||||||||
2,490 | Railsplitter Tobacco Settlement Authority Illinois Revenue | 5.00 | 6/1/17 | 2,778 |
See accompanying notes to financial statements.
156
HC CAPITAL TRUST
The Intermediate Term Municipal Bond
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Illinois (continued) | ||||||||||||||||
$320 | Rockford-Concord Commons Housing Finance Corp. Illinois Mortgage Revenue, Concord Commons Project, Series A (FHA) | 6.15 | 11/1/22 | $ | 320 | |||||||||||
100 | Upper Illinois River Valley Development Authority, Solid Waste Disposal Revenue, AMT (d)(e) | 5.90 | 2/1/14 | 100 | ||||||||||||
25,167 | ||||||||||||||||
Indiana — 2.39% | ||||||||||||||||
5,550 | Indiana State Finance Authority Environmental Facilities Revenue, Indianapolis Power & Light Co., Series C | 4.90 | 1/1/16 | 5,946 | ||||||||||||
1,655 | Indianapolis Indiana Thermal Energy System Revenue (AGM) | 5.00 | 10/1/17 | 1,845 | ||||||||||||
2,000 | Shelbyville Indiana Central Renovation School Building Corp. Revenue, First Mortgage, Callable 7/15/15 @ 100.00 (MBIA) | 5.00 | 7/15/18 | 2,100 | ||||||||||||
9,891 | ||||||||||||||||
Louisiana — 1.90% | ||||||||||||||||
1,000 | Louisiana Stadium & Exposition District, Series A | 5.00 | 7/1/18 | 1,135 | ||||||||||||
6,000 | Tobacco Settlement Financing Corp. Louisiana Revenue, Series A | 5.00 | 5/15/19 | 6,735 | ||||||||||||
7,870 | ||||||||||||||||
Maryland — 0.11% | ||||||||||||||||
435 | Morgan State University Maryland Academic & Auxiliary Fees Revenue (MBIA) | 6.05 | 7/1/15 | 446 | ||||||||||||
Massachusetts — 7.15% | ||||||||||||||||
1,690 | Massachusetts State Clean Energy Cooperative Corp. Revenue | 4.00 | 7/1/17 | 1,861 | ||||||||||||
4,730 | Massachusetts State Educational Financing Authority Revenue, Series K | 5.00 | 7/1/19 | 5,118 | ||||||||||||
2,315 | Massachusetts State Development Finance Agency Revenue, Bentley University, Callable 7/1/20 @ 100.00 | 5.00 | 7/1/21 | 2,541 | ||||||||||||
2,180 | Massachusetts State Development Finance Agency Revenue, Bentley University, Callable 7/1/20 @ 100.00 | 5.00 | 7/1/22 | 2,360 | ||||||||||||
2,920 | Massachusetts State Development Finance Agency Revenue, Tufts Medical Center, Inc., Series I | 5.25 | 1/1/21 | 3,234 | ||||||||||||
4,170 | Massachusetts State Health & Educational Facilities Authority Revenue, Northeastern University, Series A | 5.00 | 10/1/17 | 4,723 | ||||||||||||
1,390 | Massachusetts State Health & Educational Facilities Authority Revenue, Massachusetts Eye & Ear Infirmary, Series C | 5.00 | 7/1/18 | 1,499 | ||||||||||||
1,250 | Massachusetts State Health & Educational Facilities Authority Revenue, Massachusetts Eye & Ear Infirmary, Series C | 5.00 | 7/1/19 | 1,342 | ||||||||||||
1,000 | Massachusetts State School Building Authority Sales Tax Revenue, Series B | 5.00 | 10/15/16 | 1,122 | ||||||||||||
5,000 | Massachusetts State School Building Authority Sales Tax Revenue, Series B | 5.00 | 10/15/18 | 5,848 | ||||||||||||
29,648 | ||||||||||||||||
Michigan — 5.39% | ||||||||||||||||
1,440 | Detroit Michigan Water Supply System Revenue, Senior Lien, Series B, Callable 7/1/16 @ 100.00 (NATL-RE) | 5.00 | 7/1/18 | 1,438 | ||||||||||||
1,200 | Kent Hospital Finance Authority Revenue, Spectrum Health Hospitals, Series A | 5.00 | 11/15/16 | 1,333 | ||||||||||||
2,500 | Michigan State Finance Authority Revenue, State Revolving Fund, Clean Water | 5.00 | 10/1/17 | 2,876 | ||||||||||||
6,000 | Michigan State Finance Authority Revenue, Series B, Callable 7/1/18 @ 100.00 | 5.00 | 7/1/21 | 6,751 | ||||||||||||
1,750 | Michigan State Finance Authority Revenue, State Revolving Fund, Clean Water | 5.00 | 10/1/17 | 2,013 | ||||||||||||
2,500 | Michigan State Finance Authority Revenue, State Revolving Fund, Clean Water, Series C | 4.38 | 8/20/14 | 2,526 | ||||||||||||
2,000 | Michigan State, GO, Series A | 5.00 | 11/1/19 | 2,337 | ||||||||||||
235 | Michigan State Hospital Finance Authority Revenue, Series P, ETM (MBIA) | 5.38 | 8/15/14 | 242 | ||||||||||||
1,665 | Wayne County Michigan Airport Authority Revenue, Detroit Metropolitan Airport, Junior Lien, AMT, Callable 12/1/17 @ 100.00 (NATL-RE/FGIC) | 5.00 | 12/1/22 | 1,774 |
See accompanying notes to financial statements.
157
HC CAPITAL TRUST
The Intermediate Term Municipal Bond
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Michigan (continued) | ||||||||||||||||
$965 | Wayne County Michigan Airport Authority Revenue, Detroit Metropolitan Airport, AMT, Callable 12/1/15 @ 100.00 (AGC-ICC MBIA) | 4.75 | 12/1/18 | $ | 1,017 | |||||||||||
22,307 | ||||||||||||||||
Missouri — 2.70% | ||||||||||||||||
2,500 | Kansas City Missouri Airport Revenue, Series A, AMT | 5.00 | 9/1/20 | 2,779 | ||||||||||||
2,410 | Missouri State Regional Convention & Sports Complex Authority Revenue, Series A | 5.00 | 8/15/17 | 2,747 | ||||||||||||
5,000 | Missouri State Highways & Transit Commission State Road Revenue, Callable 5/1/17 @ 100.00 | 5.25 | 5/1/21 | 5,640 | ||||||||||||
11,166 | ||||||||||||||||
Nebraska — 0.00% | ||||||||||||||||
1,000 | Nebraska Educational Finance Authority Revenue, Dana College, Series A (d)(e) | 5.50 | 3/15/25 | 8 | ||||||||||||
475 | Nebraska Educational Finance Authority Revenue, Dana College, Series D, Callable 2/10/14 @ 100.00 (d)(e) | 5.45 | 3/15/30 | 4 | ||||||||||||
765 | Nebraska Educational Finance Authority Revenue, Dana College, Series D, Callable 2/10/14 @ 100.00 (d)(e) | 5.55 | 3/15/35 | 6 | ||||||||||||
18 | ||||||||||||||||
New Jersey — 2.46% | ||||||||||||||||
3,830 | Casino Reinvestment Development Authority, New Jersey Revenue, Series A (MBIA) | 5.00 | 6/1/16 | 3,940 | ||||||||||||
2,425 | New Jersey Building Authority Revenue, Series A | 5.00 | 6/15/17 | 2,739 | ||||||||||||
750 | New Jersey State Health Care Facilities Finance Authority Revenue, Virtua Health, Inc. | 5.00 | 7/1/19 | 855 | ||||||||||||
2,500 | New Jersey Economic Development Authority Revenue, School Facilities Construction, Series N-1, Callable 9/1/15 @ 100.00 (NATL-RE) | 5.00 | 9/1/18 | 2,643 | ||||||||||||
10,177 | ||||||||||||||||
New York — 9.43% | ||||||||||||||||
1,435 | Metropolitan Transportation Authority Revenue, Series A-2 | 5.00 | 11/15/16 | 1,608 | ||||||||||||
1,500 | Metropolitan Transportation Authority Revenue, Series C | 5.00 | 11/15/18 | 1,734 | ||||||||||||
2,000 | Metropolitan Transportation Authority Revenue, Series G | 5.00 | 11/15/17 | 2,294 | ||||||||||||
3,250 | New York State, GO, Series B | 5.00 | 8/1/17 | 3,697 | ||||||||||||
3,020 | New York State, GO, Series E, Callable 8/1/19 @ 100.00 | 5.00 | 8/1/21 | 3,392 | ||||||||||||
5,915 | New York NY, GO, Series D | 5.00 | 8/1/17 | 6,728 | ||||||||||||
2,500 | New York City Health & Hospital Corp. Revenue, Health System, Series A, Callable 2/15/20 @ 100.00 (GO of Corp.) | 5.00 | 2/15/22 | 2,768 | ||||||||||||
3,000 | New York City Transitional Finance Authority Future Tax Revenue, Sub Series 13 | 5.00 | 11/1/17 | 3,461 | ||||||||||||
2,835 | New York City Transitional Finance Authority Future Tax Secured Bonds Revenue, Sub Series I | 5.00 | 5/1/17 | 3,219 | ||||||||||||
2,000 | New York City Transitional Finance Authority Future Tax Revenue, Series E | 5.00 | 11/1/18 | 2,339 | ||||||||||||
640 | New York State Housing Finance Agency Revenue, St. Philips Housing, Series A (FNMA) | 4.05 | 11/15/16 | 656 | ||||||||||||
85 | New York State Housing Finance Agency Revenue, Multi-Family Housing, Northfield Apartment, Series A (SONYMA) | 4.30 | 8/15/14 | 85 | ||||||||||||
3,000 | New York State Thruway Authority Revenue, Series A | 5.00 | 5/1/19 | 3,444 | ||||||||||||
3,000 | Port Authority of New York & New Jersey NY Revenue, Consolidated 175th Series | 5.00 | 12/1/17 | 3,452 | ||||||||||||
200 | Triborough Bridge & Tunnel Authority New York Revenue, General Purposes, Series A (GO of Authority) | 5.20 | 1/1/20 | 208 | ||||||||||||
39,085 |
See accompanying notes to financial statements.
158
HC CAPITAL TRUST
The Intermediate Term Municipal Bond
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
North Carolina — 0.66% | ||||||||||||||||
$3,000 | Wake County Industrial Facilities & Pollution Control Financing Authority Revenue, Series E (b) | 0.11 | 10/1/22 | $ | 2,714 | |||||||||||
Ohio — 3.29% | ||||||||||||||||
6,535 | Kent State University Revenue, Series B, Callable 5/1/19 @ 100.00 (Assured GTY) | 5.00 | 5/1/22 | 7,215 | ||||||||||||
990 | Mahoning County Ohio Hospital Facilities Revenue, Western Reserve Care System, ETM (MBIA) | 5.50 | 10/15/25 | 1,159 | ||||||||||||
2,500 | Montgomery County Ohio Revenue, Miami Valley Hospital, Series A, Callable 11/15/20 @ 100.00 | 5.75 | 11/15/22 | 2,816 | ||||||||||||
1,875 | Ohio State Capital Facilities Lease Appropriation Revenue, Administrative Building Fund Project, Series A | 5.00 | 10/1/18 | 2,168 | ||||||||||||
250 | Ohio State Higher Education Facility Revenue, Kenyon College Project, Callable 7/1/15 @ 100.00 (b) | 4.95 | 7/1/37 | 267 | ||||||||||||
13,625 | ||||||||||||||||
Oregon — 1.40% | ||||||||||||||||
5,120 | Oregon State Department of Administrative Services Certificates of Participation, Series A | 5.00 | 5/1/17 | 5,790 | ||||||||||||
Pennsylvania — 5.84% | ||||||||||||||||
1,230 | Montgomery County Pennsylvania Industrial Development Authority Revenue, Acts Retirement-Life Communities, Inc., Series B, Callable 11/15/16 @ 100.00 | 5.00 | 11/15/17 | 1,331 | ||||||||||||
2,960 | Pennsylvania State Economic Development Finance Authority, Unemployment Compensation Revenue, Series B, Callable 1/1/18 @ 100.00 | 5.00 | 7/1/21 | 3,322 | ||||||||||||
3,500 | Pennsylvania State Economic Development Finance Authority, Unemployment Compensation Revenue, Series B, Callable 7/1/17 @ 100.00 | 5.00 | 1/1/22 | 3,896 | ||||||||||||
2,500 | Pennsylvania Intergovernmental Cooperative Authority, Special Tax Revenue | 5.00 | 6/15/18 | 2,877 | ||||||||||||
2,530 | Pennsylvania State, GO | 5.00 | 7/1/18 | 2,946 | ||||||||||||
5,000 | Pennsylvania State Higher Educational Facilities Authority Revenue, University of Pennsylvania, Series A | 5.00 | 9/1/17 | 5,706 | ||||||||||||
1,590 | Pittsburgh Pennsylvania Water & Sewer Authority Revenue, Series A (AGM) | 5.00 | 9/1/19 | 1,825 | ||||||||||||
2,000 | University of Pittsburgh Revenue, Commonwealth Systems of Higher Education, Series B, Callable 3/15/19 @ 100.00 (GO of University) | 5.50 | 9/15/21 | 2,327 | ||||||||||||
24,230 | ||||||||||||||||
Puerto Rico — 1.12% | ||||||||||||||||
1,380 | Puerto Rico Electric Power Authority Power Revenue, Series TT | 5.00 | 7/1/17 | 1,197 | ||||||||||||
2,000 | Puerto Rico Electric Power Authority Power Revenue, Series DDD | 5.00 | 7/1/20 | 1,567 | ||||||||||||
2,500 | Puerto Rico Electric Power Authority Power Revenue, Series DDD, Callable 7/1/20 @ 100.00 | 5.00 | 7/1/22 | 1,847 | ||||||||||||
4,611 | ||||||||||||||||
South Carolina — 0.93% | ||||||||||||||||
3,500 | Piedmont Municipal Power Agency Electric Revenue, Series A-2, Callable 1/1/21 @ 100.00 | 5.00 | 1/1/22 | 3,869 | ||||||||||||
South Dakota — 0.05% | ||||||||||||||||
215 | Heartland Consumers Power District South Dakota Electric Revenue, ETM | 6.38 | 1/1/16 | 227 | ||||||||||||
Texas — 7.49% | ||||||||||||||||
1,650 | Allen Texas Independent School District, GO (PSF-GTD) | 5.00 | 2/15/21 | 1,948 | ||||||||||||
885 | Bexar County Texas Housing Finance Corp., Multi-Family Housing Revenue, Perkin Square Project, Series A-1 (GNMA) | 6.55 | 12/20/34 | 915 | ||||||||||||
3,500 | Dallas-Fort Worth Texas International Airport Revenue, Series E, AMT | 5.00 | 11/1/19 | 3,911 | ||||||||||||
20 | Dallas Texas, GO, Series A, ETM | 5.00 | 2/15/18 | 23 | ||||||||||||
6,380 | Dallas Texas, GO, Series A | 5.00 | 2/15/18 | 7,379 |
See accompanying notes to financial statements.
159
HC CAPITAL TRUST
The Intermediate Term Municipal Bond
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Texas (continued) | ||||||||||||||||
$5,000 | Fort Worth Texas Independent School District, GO, Callable 2/15/18 @ 100.00 (PSF-GTD) | 5.00 | 2/15/21 | $ | 5,598 | |||||||||||
2,000 | Houston Texas Hotel Occupancy Tax & Special Revenue, Series A | 5.00 | 9/1/20 | 2,202 | ||||||||||||
2,345 | Retama Texas Development Corp., Special Facilities Revenue, ETM | 8.75 | 12/15/18 | 3,127 | ||||||||||||
2,500 | San Antonio Texas Electricity & Gas Revenue, Series D | 5.00 | 2/1/18 | 2,889 | ||||||||||||
2,500 | Texas State College Student Loan, GO, AMT | 5.50 | 8/1/19 | 3,011 | ||||||||||||
31,003 | ||||||||||||||||
Utah — 0.47% | ||||||||||||||||
1,500 | Intermountain Power Agency Power Supply Revenue, Series A | 5.00 | 7/1/17 | 1,702 | ||||||||||||
235 | Utah Housing Corp., Single Family Mortgage, SUB, Series D-2, Class III, AMT, Callable 2/10/14 @ 100.00 | 5.00 | 7/1/18 | 235 | ||||||||||||
1,937 | ||||||||||||||||
Washington — 2.88% | ||||||||||||||||
1,500 | Energy Northwest Washington Electric Revenue, Columbia Station, Series A, Callable 7/1/16 @ 100.00 | 5.00 | 7/1/21 | 1,649 | ||||||||||||
3,500 | Energy Northwest Washington Electric Revenue, Columbia Station, Series A, Callable 7/1/16 @ 100.00 | 5.00 | 7/1/23 | 3,837 | ||||||||||||
3,500 | Energy Northwest Washington Electric Revenue, Project 3, Series A | 5.25 | 7/1/18 | 4,103 | ||||||||||||
1,000 | Port of Seattle Washington, GO, AMT, Callable 6/1/21 @ 100.00 | 5.25 | 12/1/21 | 1,144 | ||||||||||||
1,000 | Washington State Health Care Facilities Authority Revenue, Providence Health & Services, Series B | 5.00 | 10/1/19 | 1,153 | ||||||||||||
11,886 | ||||||||||||||||
Wisconsin — 0.45% | ||||||||||||||||
1,625 | Wisconsin State, GO, Series 1 | 5.00 | 5/1/17 | 1,849 | ||||||||||||
Total Municipal Bonds | 408,686 | |||||||||||||||
Corporate Bond — 0.00% | ||||||||||||||||
3,939 | ASC Equipment (Diversified Financial Services) (d)(f) | 5.13 | 3/1/08 | — | ||||||||||||
Total Corporate Bond | — | |||||||||||||||
Time Deposit — 0.07% | ||||||||||||||||
304 | State Street Liquidity Management Control System Eurodollar Time Deposit | 0.01 | 1/2/14 | 304 | ||||||||||||
Total Time Deposit | 304 | |||||||||||||||
Total Investments (cost $403,647) — 98.71% | 408,990 | |||||||||||||||
Other assets in excess of liabilities — 1.29% | 5,347 | |||||||||||||||
Net Assets — 100.00% | $ | 414,337 |
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | These securities haves been deemed illiquid by the Specialist Manager and represent 1.14% of the Portfolio. |
(b) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2013. The maturity date represents actual maturity date. |
(c) | Zero Coupon Security. Effective rate shown is as of December 31, 2013. |
(d) | Escrow security due to bankruptcy. |
(e) | Issuer has defaulted on the payment of interest. These securities have been deemed illiquid by the Specialist Manager and represent 0.03% of the Portfolio's net assets. |
(f) | Issuer has defaulted on the payment of principal and interest. These securities have been deemed illiquid by the Specialist Manager and represent 0.00% of the Portfolio's net assets. |
AGC — Associated General Contractors
AGM — Assured Guaranty Municipal Corporation
See accompanying notes to financial statements.
160
HC CAPITAL TRUST
The Intermediate Term Municipal Bond
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
AMBAC — American Municipal Bond Assurance Corporation
AMT — Alternative Minimum Tax
ETM — Escrowed to Maturity
FGIC — Financial Guaranty Insurance Company
FHA — Federal Housing Administration
FHLMC — Federal Home Loan Mortgage Corporation
FNMA — Federal National Mortgage Association
GNMA — Government National Mortgage Association
GO — General Obligation
GTY — Guaranty
ICC — Interstate Commerce Commission
MBIA — Municipal Bond Insurance Association
NATL-RE — Reinsurance provided by National Reinsurance
PSF-GTD — Public School Fund Guaranteed
SONYMA — State of New York Mortgage Agency
See accompanying notes to financial statements.
161
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds — 94.75% | ||||||||||||||||
Alabama — 5.33% | ||||||||||||||||
$1,500 | Alabama State Public School & College Authority Revenue, Series A | 5.00 | 5/1/19 | $ | 1,748 | |||||||||||
1,000 | Alexander City, GO, Series A (Assured GTY) | 5.00 | 5/1/18 | 1,130 | ||||||||||||
1,050 | Foley Utilities Board Utilities Revenue | 4.00 | 11/1/14 | 1,081 | ||||||||||||
3,959 | ||||||||||||||||
Arizona — 0.21% | ||||||||||||||||
140 | Yuma County Arizona Jail District Revenue, Pledge Obligation | 5.00 | 7/1/20 | 154 | ||||||||||||
California — 3.68% | ||||||||||||||||
1,000 | California State Department of Water Resources, Power Supply Revenue, Series L, Callable 5/1/20 @ 100.00 | 5.00 | 5/1/22 | 1,140 | ||||||||||||
1,500 | Los Angeles California Unified School District, GO, Series A-2, Callable 7/1/15 @ 100.00 (NATL-RE) | 5.00 | 7/1/19 | 1,599 | ||||||||||||
2,739 | ||||||||||||||||
Florida — 12.46% | ||||||||||||||||
1,550 | Florida Water Pollution Control Financing Corp. Revenue, Series A | 5.00 | 7/15/16 | 1,721 | ||||||||||||
400 | JEA Florida Electric System Revenue, Series A | 5.00 | 10/1/15 | 430 | ||||||||||||
875 | Jacksonville Florida Special Revenue, Series A | 5.00 | 10/1/15 | 945 | ||||||||||||
895 | Lee County Florida Water & Sewer Revenue | 4.00 | 10/1/15 | 951 | ||||||||||||
1,000 | Miami-Dade County Florida Water & Sewer Revenue, Series B (AGM) | 5.25 | 10/1/20 | 1,167 | ||||||||||||
1,085 | Orange Country Florida School Board Certificates of Participation, Series A | 5.00 | 8/1/23 | 1,227 | ||||||||||||
1,000 | Palm Beach County Florida Public Improvement Revenue, Series 2 | 5.00 | 11/1/16 | 1,122 | ||||||||||||
1,500 | West Palm Beach Florida Utility System Revenue, Series A, Callable 10/1/21 @ 100.00 | 5.00 | 10/1/22 | 1,701 | ||||||||||||
9,264 | ||||||||||||||||
Hawaii — 2.29% | ||||||||||||||||
1,500 | Honolulu City & County Hawaii, GO, Series B, Callable 12/1/20 @ 100.00 | 5.00 | 12/1/23 | 1,692 | ||||||||||||
Illinois — 2.63% | ||||||||||||||||
1,000 | Lake County Illinois Community High School District No. 124 Grant, GO | 5.00 | 12/1/14 | 1,042 | ||||||||||||
425 | Lake County Illinois Adlai E. Stevenson High School District No. 125 Prairie, GO, Callable 1/1/15 @ 100.00 | 5.00 | 1/1/19 | 445 | ||||||||||||
125 | Lake County Illinois Adlai E. Stevenson High School District No. 125 Prairie, GO, Callable 1/1/15 @ 100.00 | 5.00 | 1/1/19 | 130 | ||||||||||||
320 | Northbrook Illinois, GO | 3.00 | 12/1/15 | 334 | ||||||||||||
1,951 | ||||||||||||||||
Kentucky — 1.39% | ||||||||||||||||
1,005 | Kentucky State Property & Buildings Commission Revenues | 5.00 | 8/1/14 | 1,033 | ||||||||||||
Maine — 2.07% | ||||||||||||||||
1,500 | Maine Municipal Bond Bank Grant Anticipation Revenue, Department of Transportation, Series A | 4.00 | 9/1/14 | 1,538 | ||||||||||||
Maryland — 4.83% | ||||||||||||||||
505 | Baltimore County Maryland, Metropolitan District 70th Issue, GO | 5.00 | 9/1/14 | 521 | ||||||||||||
1,360 | Charles County Maryland, Consolidated Public Improvement, GO | 4.00 | 7/15/20 | 1,513 | ||||||||||||
1,330 | Maryland State Transportation Authority Revenue, Transportation Facilities Project, Series A | 5.00 | 7/1/19 | 1,551 | ||||||||||||
3,585 | ||||||||||||||||
Massachusetts — 3.22% | ||||||||||||||||
2,000 | Massachusetts Bay Transportation Authority Sales Tax Revenue, Series B | 5.25 | 7/1/21 | 2,390 | ||||||||||||
Michigan — 2.42% | ||||||||||||||||
1,000 | Grand Rapids Michigan Community College, GO (AGM) | 5.00 | 5/1/18 | 1,146 | ||||||||||||
600 | Kentwood Michigan Public Schools, GO | 4.00 | 5/1/19 | 656 | ||||||||||||
1,802 | ||||||||||||||||
Minnesota — 0.62% | ||||||||||||||||
400 | Crow Wing County Minnesota, GO, Series A | 5.00 | 2/1/19 | 464 | ||||||||||||
Nebraska — 1.45% | ||||||||||||||||
1,000 | Lincoln Nebraska Waterworks Revenue | 3.00 | 8/15/18 | 1,078 | ||||||||||||
Nevada — 2.63% | ||||||||||||||||
800 | Clark County Nevada Highway Improvement Revenue | 5.00 | 7/1/23 | 903 |
See accompanying notes to financial statements.
162
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments (continued) — December 31, 2013 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Nevada (continued) | ||||||||||||||||
$1,000 | Nevada State, Capital Improvement, GO, Series A, Callable 2/1/15 @ 100.00 | 5.00 | 2/1/19 | $ | 1,051 | |||||||||||
1,954 | ||||||||||||||||
New Mexico — 0.70% | ||||||||||||||||
500 | New Mexico Finance Authority State Transportation Revenue, Sub Lien, Series B (XLCA) | 4.00 | 12/15/14 | 518 | ||||||||||||
New York — 5.00% | ||||||||||||||||
2,245 | New York City Transitional Finance Authority Revenue, Series D, Callable 2/1/21 @ 100.00 | 5.25 | 2/1/22 | 2,604 | ||||||||||||
1,025 | New York City Transitional Finance Authority Revenue, Sub Series E | 5.00 | 11/1/15 | 1,112 | ||||||||||||
3,716 | ||||||||||||||||
Ohio — 7.82% | ||||||||||||||||
1,600 | Columbus Ohio State, GO, Series 1, Callable 7/1/23 @ 100.00 | 5.00 | 7/1/24 | 1,859 | ||||||||||||
1,400 | Cuyahoga County Ohio, GO, Series A | 5.00 | 12/1/19 | 1,643 | ||||||||||||
1,000 | Ohio State, GO, Series B | 5.00 | 9/15/17 | 1,150 | ||||||||||||
1,000 | Ohio State Building Authority State Facilities Revenue | 5.00 | 10/1/21 | 1,155 | ||||||||||||
5,807 | ||||||||||||||||
Oklahoma — 1.76% | ||||||||||||||||
1,150 | Oklahoma State Capitol Improvement Authority State Facilities Revenue, Series A | 5.00 | 7/1/17 | 1,306 | ||||||||||||
Pennsylvania — 1.58% | ||||||||||||||||
1,000 | Pennsylvania State, GO, Series A | 5.00 | 5/1/20 | 1,174 | ||||||||||||
South Carolina — 1.72% | ||||||||||||||||
1,100 | Richland County School District No. 2, GO, Series A, Callable 2/1/19 @ 100.00 (SCSDE) | 5.00 | 2/1/20 | 1,278 | ||||||||||||
Texas — 11.90% | ||||||||||||||||
1,000 | Collin County Texas, GO, Series A | 4.00 | 2/15/19 | 1,117 | ||||||||||||
750 | City of Corpus Christi Texas Utility System Revenue | 4.00 | 7/15/15 | 790 | ||||||||||||
1,250 | Dallas Texas Waterworks & Sewer System Revenue, Callable 10/1/21 @ 100.00 | 5.00 | 10/1/23 | 1,430 | ||||||||||||
1,025 | Galveston County Texas, GO (AGM) | 5.25 | 2/1/14 | 1,029 | ||||||||||||
1,435 | Sugar Land Texas, GO, Callable 2/15/19 @ 100.00 | 5.00 | 2/15/21 | 1,598 | ||||||||||||
1,800 | Texas State University Systems Financing Revenue | 5.00 | 3/15/17 | 2,036 | ||||||||||||
750 | Webb County Texas, GO | 4.50 | 2/15/19 | 843 | ||||||||||||
8,843 | ||||||||||||||||
Utah — 1.45% | ||||||||||||||||
1,050 | Intermountain Power Agency Power Supply Revenue, Series A, Callable 7/1/14 @ 100.00 | 5.00 | 7/1/16 | 1,075 | ||||||||||||
Virginia — 0.77% | ||||||||||||||||
500 | Virginia State College Building Authority Educational Facilities Revenue, Series A, Callable 9/1/22 @ 100.00 | 5.00 | 9/1/23 | 572 | ||||||||||||
Washington — 14.35% | ||||||||||||||||
500 | Everett Washington Water & Sewer Revenue | 5.00 | 12/1/17 | 575 | ||||||||||||
1,000 | King County Washington, GO | 5.25 | 1/1/23 | 1,182 | ||||||||||||
1,400 | King County Washington Sewer Revenue, Callable 1/1/22 @ 100.00 | 5.00 | 1/1/24 | 1,578 | ||||||||||||
1,500 | King County Washington Sewer Revenue | 5.00 | 1/1/20 | 1,757 | ||||||||||||
1,580 | Port of Seattle Washington Revenue, Intermediate Lien, Series B | 5.00 | 6/1/18 | 1,808 | ||||||||||||
1,500 | Tacoma Washington Water Revenue, Series A, Callable 6/1/20 @ 100.00 | 5.00 | 12/1/22 | 1,683 | ||||||||||||
1,800 | Washington State, GO, Series R-2011-A | 5.00 | 1/1/18 | 2,076 | ||||||||||||
10,659 | ||||||||||||||||
Wisconsin — 2.47% | ||||||||||||||||
1,220 | Menomonee Falls Wisconsin School District, GO, Callable 4/1/17 @ 100.00 (NATL-RE/FGIC) | 4.75 | 4/1/21 | 1,301 | ||||||||||||
500 | Wisconsin State, GO, Series C | 5.00 | 5/1/15 | 532 | ||||||||||||
1,833 | ||||||||||||||||
Total Municipal Bonds | 70,384 |
See accompanying notes to financial statements.
163
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments (concluded) — December 31, 2013 (Unaudited)
Shares | Rate % | Maturity Date | Value (000) | |||||||||||||
Mutual Fund — 3.96% | ||||||||||||||||
2,938,895 | State Street Institutional Tax Free Money Market Fund, Institutional Shares (a) | 0.00 | $ | 2,939 | ||||||||||||
Total Mutual Fund | 2,939 | |||||||||||||||
Total Investments (cost $71,598) — 98.71% | 73,323 | |||||||||||||||
Other assets in excess of liabilities — 1.29% | 958 | |||||||||||||||
Net Assets — 100.00% | $ | 74,281 |
(a) | The rate disclosed is the rate in effect on December 31, 2013. |
AGM — Assured Guaranty Municipal Corporation
FGIC — Financial Guaranty Insurance Company
GO — General Obligation
GTY — Guaranty
NATL-RE — Reinsurance provided by National Reinsurance
SCSDE — Insured by South Carolina School Discount Enhancement
XLCA — XL Capital Assurance, Inc.
See accompanying notes to financial statements.
164
HC CAPITAL TRUST
Statements of Assets and Liabilities
As of December 31, 2013 (Unaudited)
(Amounts in thousands except per share amounts)
The Value Equity Portfolio | The Institutional Value Equity Portfolio | The Growth Equity Portfolio | The Institutional Growth Equity Portfolio | |||||||||||||
ASSETS: | ||||||||||||||||
Investments, at cost | $ | 492,825 | $ | 774,856 | $ | 526,243 | $ | 1,024,424 | ||||||||
Unrealized appreciation (depreciation) | 143,421 | 202,626 | 299,082 | 336,724 | ||||||||||||
Investments, at value | 636,246 | 977,482 | 825,325 | 1,361,148 | ||||||||||||
Cash | — | — | 1 | — | ||||||||||||
Foreign currency, at value (Cost $0, $0, $0 and $344, respectively) | — | — | — | 347 | ||||||||||||
Unrealized appreciation on forward currency contracts | — | — | — | 382 | ||||||||||||
Dividends and interest receivable | 1,073 | 1,626 | 747 | 1,286 | ||||||||||||
Receivable for portfolio shares issued | 3 | 5,876 | 7 | 757 | ||||||||||||
Receivable from investments sold | 1,644 | 1,408 | — | 1,075 | ||||||||||||
Foreign tax reclaims receivable | 4 | 7 | 31 | 12 | ||||||||||||
Segregated cash for collateral | — | — | — | 9,456 | ||||||||||||
Variation margin receivable on future contracts | — | — | — | 573 | ||||||||||||
Variation margin receivable on interest rate swap agreements | — | — | — | 223 | ||||||||||||
Prepaid expenses | 16 | 12 | 19 | 19 | ||||||||||||
Total Assets | 638,986 | 986,411 | 826,130 | 1,375,278 | ||||||||||||
LIABILITIES: | ||||||||||||||||
Written Options, at fair value (premiums received $0, $0, $0 and $48, respectively) | — | — | — | 47 | ||||||||||||
Net swap agreements, at value | — | — | — | 273 | ||||||||||||
Unrealized depreciation on forward currency contracts | — | — | — | 395 | ||||||||||||
Payable for investments purchased | 319 | 480 | 2,297 | 12,285 | ||||||||||||
Payable for portfolio shares redeemed | — | 322 | — | 492 | ||||||||||||
Payable to broker for futures collateral | — | — | — | 181 | ||||||||||||
Payable for swap agreements | — | — | — | 2 | ||||||||||||
Variation margin payable on future contracts | — | — | — | 38 | ||||||||||||
Variation margin payable on interest rate swap agreements | — | — | — | 11 | ||||||||||||
Advisory fees payable | 190 | 279 | 217 | 298 | ||||||||||||
Management fees payable | 27 | 40 | 34 | 55 | ||||||||||||
Administrative services fees payable | 11 | 16 | 12 | 20 | ||||||||||||
Trustee | 11 | 3 | 5 | 22 | ||||||||||||
Other accrued expenses | 155 | 32 | 49 | 207 | ||||||||||||
Total Liabilities | 713 | 1,172 | 2,614 | 14,326 | ||||||||||||
NET ASSETS: | $ | 638,273 | $ | 985,239 | $ | 823,516 | $ | 1,360,952 | ||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 38 | $ | 71 | $ | 42 | $ | 86 | ||||||||
Additional paid-in capital | 607,193 | 767,374 | 582,288 | 1,016,848 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | (103 | ) | (159 | ) | 49 | (66 | ) | |||||||||
Accumulated net realized gain/(loss) from investments, futures, options and foreign currency transactions and translations | (112,276 | ) | 15,328 | (57,945 | ) | 739 | ||||||||||
Net unrealized appreciation on investments, futures, options and foreign currency translations | 143,421 | 202,625 | 299,082 | 343,345 | ||||||||||||
Net Assets | $ | 638,273 | $ | 985,239 | $ | 823,516 | $ | 1,360,952 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 636,521 | $ | 983,511 | $ | 821,751 | $ | 1,359,067 | ||||||||
HC Advisors Shares | 1,752 | 1,728 | 1,765 | 1,885 | ||||||||||||
Total | $ | 638,273 | $ | 985,239 | $ | 823,516 | $ | 1,360,952 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING (Unlimited number of shares authorized, par value $0.001): | ||||||||||||||||
HC Strategic Shares | 37,707 | 70,543 | 41,579 | 85,455 | ||||||||||||
HC Advisors Shares | 103 | 124 | 89 | 119 | ||||||||||||
Total | 37,810 | 70,667 | 41,668 | 85,574 | ||||||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 16.88 | $ | 13.94 | $ | 19.76 | $ | 15.90 | ||||||||
HC Advisors Shares | $ | 16.88 | $ | 13.95 | $ | 19.74 | $ | 15.90 |
(a) | Amounts designated as “—” are $0 or have been rounded to $0. Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
165
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2013 (Unaudited)
(Amounts in thousands except per share amounts)
The Small Capitalization– Mid Capitalization Equity Portfolio | The Institutional Small Capitalization– Mid Capitalization Equity Portfolio | The Real Estate Securities Portfolio (a) | The Commodity Returns Strategy Portfolio (b) | |||||||||||||
ASSETS: | ||||||||||||||||
Investments, at cost | $ | 88,076 | $ | 129,652 | $ | 171,476 | $ | 978,087 | ||||||||
Unrealized appreciation (depreciation) | 37,615 | 49,953 | (219 | ) | 74,189 | |||||||||||
Investments, at value | 125,691 | 179,605 | 171,257 | 1,052,276 | ||||||||||||
Cash | — | — | — | 20 | ||||||||||||
Foreign currency, at value (Cost $0, $0, $0 and $2,443, respectively) | — | — | — | 2,448 | ||||||||||||
Unrealized appreciation on forward currency contracts | — | — | — | 55 | ||||||||||||
Dividends and interest receivable | 110 | 132 | 711 | 657 | ||||||||||||
Margin deposits | — | — | — | 10,255 | ||||||||||||
Receivable for portfolio shares issued | 4 | 19 | 79 | 402 | ||||||||||||
Receivable from investments sold | 18 | 267 | 326 | 2,832 | ||||||||||||
Foreign tax reclaims receivable | — | — | — | 103 | ||||||||||||
Segregated cash for collateral | — | — | — | 1,279 | ||||||||||||
Variation margin receivable on futures contracts | — | — | — | 536 | ||||||||||||
Variation margin receivable on swap agreements | — | — | — | 12 | ||||||||||||
Prepaid expenses | 13 | 16 | 3 | 137 | ||||||||||||
Total Assets | 125,836 | 180,039 | 172,376 | 1,071,012 | ||||||||||||
LIABILITIES: | ||||||||||||||||
Written options at fair value (premiums received $0, $0, $0 and $375, respectively) | — | — | — | 73 | ||||||||||||
Unrealized depreciation on forward currency contracts | — | — | — | 212 | ||||||||||||
Net swap agreements, at value | — | — | — | 1,433 | ||||||||||||
Payable for investments purchased | 346 | 145 | 86 | 4,139 | ||||||||||||
Payable for portfolio shares redeemed | 1 | 110 | 3 | 68 | ||||||||||||
Payable to broker for futures collateral | — | — | — | 830 | ||||||||||||
Variation margin payable on future contracts | — | — | — | 1,181 | ||||||||||||
Advisory fees payable | 43 | 73 | 183 | 466 | ||||||||||||
Management fees payable | 5 | 7 | 7 | 44 | ||||||||||||
Administrative services fees payable | 2 | 4 | 1 | 7 | ||||||||||||
Trustee | — | 1 | — | 1 | ||||||||||||
Other accrued expenses | 8 | 18 | 4 | 185 | ||||||||||||
Total Liabilities | 405 | 358 | 284 | 8,639 | ||||||||||||
NET ASSETS: | $ | 125,431 | $ | 179,681 | $ | 172,092 | $ | 1,062,373 | ||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 6 | $ | 11 | $ | 62 | $ | 91 | ||||||||
Additional paid-in capital | 129,089 | 124,108 | 172,844 | 1,081,767 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | 27 | (77 | ) | (562 | ) | 299 | ||||||||||
Accumulated net realized gain/(loss) from investments, futures, options and foreign currency transactions and translations | (41,307 | ) | 5,688 | (33 | ) | (92,694 | ) | |||||||||
Net unrealized appreciation/depreciation on investments, futures and foreign currency transactions and translations | 37,616 | 49,951 | (219 | ) | 72,910 | |||||||||||
Net Assets | $ | 125,431 | $ | 179,681 | $ | 172,092 | $ | 1,062,373 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 125,228 | $ | 179,479 | $ | 172,092 | $ | 1,061,087 | ||||||||
HC Advisors Shares | 203 | 202 | — | 1,286 | ||||||||||||
Total | $ | 125,431 | $ | 179,681 | $ | 172,092 | $ | 1,062,373 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING (Unlimited number of shares authorized, par value $0.001): | ||||||||||||||||
HC Strategic Shares | 6,186 | 10,803 | 62,468 | 98,836 | ||||||||||||
HC Advisors Shares | 10 | 12 | — | 119 | ||||||||||||
Total | 6,196 | 10,815 | 62,468 | 98,955 | ||||||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 20.24 | $ | 16.61 | $ | 2.75 | $ | 10.74 | ||||||||
HC Advisors Shares | $ | 20.22 | $ | 16.61 | $ | — | $ | 10.73 |
(a) | For the period September 12, 2013 (commencement of operations) through December 31, 2013. |
(b) | Statement has been consolidated. See Note 2M in Notes to Financial Statements for basis of consolidation. |
(c) | Amounts designated as “—” are $0 or have been rounded to $0. Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
166
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2013 (Unaudited)
(Amounts in thousands except per share amounts)
The International Equity Portfolio | The Institutional International Equity Portfolio | The Emerging Markets Portfolio | The Core Fixed Income Portfolio | |||||||||||||
ASSETS: | ||||||||||||||||
Investments, at cost | $ | 1,188,951 | $ | 2,317,526 | $ | 1,309,487 | $ | 105,011 | ||||||||
Unrealized appreciation (depreciation) | 368,140 | 555,046 | 50,035 | (968 | ) | |||||||||||
Investments, at value | 1,557,091 | 2,872,572 | 1,359,522 | 104,043 | ||||||||||||
Cash | — | — | 36 | — | ||||||||||||
Foreign currency, at value (Cost $4,539, $3,788, $11,018 and $0, respectively) | 4,533 | 3,794 | 10,966 | — | ||||||||||||
Unrealized appreciation on forward currency contracts | 129 | 191 | 461 | — | ||||||||||||
Dividends and interest receivable | 979 | 2,460 | 692 | 561 | ||||||||||||
Margin Deposits | — | — | 414 | — | ||||||||||||
Receivable for portfolio shares issued | 15 | 452 | 1,439 | 362 | ||||||||||||
Receivable from investments sold | 4,311 | 16,720 | 7,661 | 1,150 | ||||||||||||
Foreign tax reclaims receivable | 1,737 | 4,261 | 55 | — | ||||||||||||
TBA sale commitments receivable | — | — | — | 1,665 | ||||||||||||
Prepaid expenses | 33 | 51 | 26 | 3 | ||||||||||||
Total Assets | 1,568,828 | 2,900,501 | 1,381,272 | 107,784 | ||||||||||||
LIABILITIES: | ||||||||||||||||
TBA sale commitments, at fair value | — | — | — | 1,667 | ||||||||||||
Unrealized depreciation on forward currency contracts | 24 | 66 | 625 | — | ||||||||||||
Distributions payable | — | — | — | 283 | ||||||||||||
Payable for investments purchased | 4,340 | 40,489 | 7,574 | 7,581 | ||||||||||||
Payable for portfolio shares redeemed | — | 1,869 | 5,000 | 31 | ||||||||||||
Variation margin payable on future contracts | — | — | 85 | — | ||||||||||||
Accrued foreign capital gains tax | — | — | 710 | — | ||||||||||||
Advisory fees payable | 523 | 852 | 612 | 10 | ||||||||||||
Management fees payable | 65 | 116 | 57 | 4 | ||||||||||||
Administrative services fees payable | 10 | 18 | 9 | 1 | ||||||||||||
Trustee | 13 | 30 | 10 | 3 | ||||||||||||
Other accrued expenses | 307 | 466 | 450 | 27 | ||||||||||||
Total Liabilities | 5,282 | 43,906 | 15,132 | 9,607 | ||||||||||||
NET ASSETS: | $ | 1,563,546 | $ | 2,856,595 | $ | 1,366,140 | $ | 98,177 | ||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 119 | $ | 235 | $ | 73 | $ | 10 | ||||||||
Additional paid-in capital | 1,166,460 | 2,249,968 | 1,359,714 | 99,777 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | 150 | (3,770 | ) | (2,150 | ) | (200 | ) | |||||||||
Accumulated net realized gain/(loss) from investments, futures, options and foreign currency transactions and translations | 28,619 | 55,044 | (40,495 | ) | (441 | ) | ||||||||||
Net unrealized appreciation/depreciation on investments, futures and foreign currency transactions and translations | 368,198 | 555,118 | 48,998 | (969 | ) | |||||||||||
Net Assets | $ | 1,563,546 | $ | 2,856,595 | $ | 1,366,140 | $ | 98,177 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 1,560,411 | $ | 2,852,964 | $ | 1,364,121 | $ | 95,604 | ||||||||
HC Advisors Shares | 3,135 | 3,631 | 2,019 | 2,573 | ||||||||||||
Total | $ | 1,563,546 | $ | 2,856,595 | $ | 1,366,140 | $ | 98,177 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING (Unlimited number of shares authorized, par value $0.001): | ||||||||||||||||
HC Strategic Shares | 118,403 | 234,624 | 73,090 | 9,961 | ||||||||||||
HC Advisors Shares | 237 | 299 | 109 | 268 | ||||||||||||
Total | 118,640 | 234,923 | 73,199 | 10,229 | ||||||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 13.18 | $ | 12.16 | $ | 18.66 | $ | 9.60 | ||||||||
HC Advisors Shares | $ | 13.19 | $ | 12.15 | $ | 18.66 | $ | 9.60 |
(a) | Amounts designated as “—” are $0 or have been rounded to $0. Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
167
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2013 (Unaudited)
(Amounts in thousands except per share amounts)
The Fixed Income Opportunity Portfolio | The U.S. Government Fixed Income Securities Portfolio | The U.S. Corporate Fixed Income Securities Portfolio | The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | |||||||||||||
ASSETS: | ||||||||||||||||
Investments, at cost | $ | 875,566 | $ | 252,211 | $ | 223,715 | $ | 295,834 | ||||||||
Unrealized appreciation (depreciation) | 18,676 | (2,771 | ) | (2,010 | ) | (1,939 | ) | |||||||||
Investments, at value | 894,242 | 249,440 | 221,705 | 293,895 | ||||||||||||
Cash | — | — | — | 5 | ||||||||||||
Dividends and interest receivable | 14,532 | 1,247 | 2,135 | 799 | ||||||||||||
Receivable for portfolio shares issued | 1,974 | 2,562 | 2,914 | 2,692 | ||||||||||||
Receivable from investments sold | — | 6,592 | — | 1,289 | ||||||||||||
TBA sale commitments receivable | — | — | — | 12,281 | ||||||||||||
Prepaid expenses | 39 | 13 | 12 | 13 | ||||||||||||
Total Assets | 910,787 | 259,854 | 226,766 | 310,974 | ||||||||||||
LIABILITIES: | ||||||||||||||||
TBA sale commitments, at fair value | — | — | — | 12,301 | ||||||||||||
Distributions payable | — | 365 | 859 | 889 | ||||||||||||
Payable for investments purchased | 191 | 7,896 | — | 44,708 | ||||||||||||
Payable for portfolio shares redeemed | — | 14 | 77 | 33 | ||||||||||||
Advisory fees payable | 570 | 13 | 42 | 13 | ||||||||||||
Management fees payable | 39 | 11 | 9 | 11 | ||||||||||||
Administrative services fees payable | 6 | 2 | 1 | 3 | ||||||||||||
Trustee | — | 1 | — | 5 | ||||||||||||
Other accrued expenses | 4 | 13 | 2 | 35 | ||||||||||||
Total Liabilities | 810 | 8,315 | 990 | 57,998 | ||||||||||||
NET ASSETS: | $ | 909,977 | $ | 251,539 | $ | 225,776 | $ | 252,976 | ||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 123 | $ | 26 | $ | 23 | $ | 26 | ||||||||
Additional paid-in capital | 890,945 | 255,119 | 229,519 | 261,060 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | 39 | (5 | ) | (17 | ) | (1,470 | ) | |||||||||
Accumulated net realized gain/(loss) from investments, futures, options and foreign currency transactions and translations | 194 | (830 | ) | (1,739 | ) | (4,682 | ) | |||||||||
Net unrealized appreciation/depreciation on investments, futures and foreign currency transactions and translations | 18,676 | (2,771 | ) | (2,010 | ) | (1,958 | ) | |||||||||
Net Assets | $ | 909,977 | $ | 251,539 | $ | 225,776 | $ | 252,976 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 908,964 | $ | 251,539 | $ | 225,776 | $ | 252,976 | ||||||||
HC Advisors Shares | 1,013 | — | — | — | ||||||||||||
Total | $ | 909,977 | $ | 251,539 | $ | 225,776 | $ | 252,976 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING (Unlimited number of shares authorized, par value $0.001): | ||||||||||||||||
HC Strategic Shares | 122,496 | 25,785 | 23,074 | 26,212 | ||||||||||||
HC Advisors Shares | 136 | — | — | — | ||||||||||||
Total | 122,632 | 25,785 | 23,074 | 26,212 | ||||||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 7.42 | $ | 9.76 | $ | 9.79 | $ | 9.65 | ||||||||
HC Advisors Shares | $ | 7.42 | $ | — | $ | — | $ | — |
(a) | Amounts designated as “—” are $0 or have been rounded to $0. Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
168
HC CAPITAL TRUST
Statements of Assets and Liabilities (concluded)
As of December 31, 2013 (Unaudited)
(Amounts in thousands except per share amounts)
The Short-Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond II Portfolio | ||||||||||
ASSETS: | ||||||||||||
Investments, at cost | $ | 22,102 | $ | 403,647 | $ | 71,598 | ||||||
Unrealized appreciation (depreciation) | 399 | 5,343 | 1,725 | |||||||||
Investments, at value | 22,501 | 408,990 | 73,323 | |||||||||
Dividends and interest receivable | 229 | 5,891 | 1,005 | |||||||||
Receivable for portfolio shares issued | 36 | 1,175 | 216 | |||||||||
Prepaid expenses | 6 | 13 | 7 | |||||||||
Total Assets | 22,772 | 416,069 | 74,551 | |||||||||
LIABILITIES: | ||||||||||||
Distributions payable | 37 | 1,227 | 224 | |||||||||
Payable for portfolio shares redeemed | 2 | 236 | 32 | |||||||||
Advisory fees payable | 2 | 237 | 8 | |||||||||
Management fees payable | 1 | 18 | 3 | |||||||||
Administrative services fees payable | — | 3 | — | |||||||||
Other accrued expenses | — | 11 | 3 | |||||||||
Total Liabilities | 42 | 1,732 | 270 | |||||||||
NET ASSETS: | $ | 22,730 | $ | 414,337 | $ | 74,281 | ||||||
NET ASSETS CONSIST OF: | ||||||||||||
Shares of beneficial interest, at par value | $ | 2 | $ | 42 | $ | 7 | ||||||
Additional paid-in capital | 22,349 | 419,832 | 72,656 | |||||||||
Accumulated net investment income/(distributions in excess of net investment income) | (19 | ) | (49 | ) | (29 | ) | ||||||
Accumulated net realized loss from investments, futures, options and foreign currency transactions and translations | (1 | ) | (10,831 | ) | (78 | ) | ||||||
Net unrealized appreciation on investments, futures, options and foreign currency translations | 399 | 5,343 | 1,725 | |||||||||
Net Assets | $ | 22,730 | $ | 414,337 | $ | 74,281 | ||||||
NET ASSETS: | ||||||||||||
HC Strategic Shares | $ | 22,730 | $ | 412,295 | $ | 73,768 | ||||||
HC Advisors Shares | — | 2,042 | 513 | |||||||||
Total | $ | 22,730 | $ | 414,337 | $ | 74,281 | ||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING (Unlimited number of shares authorized, par value $0.001): | ||||||||||||
HC Strategic Shares | 2,265 | 41,461 | 7,209 | |||||||||
HC Advisors Shares | — | 206 | 50 | |||||||||
Total | 2,265 | 41,667 | 7,259 | |||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||
HC Strategic Shares | $ | 10.04 | $ | 9.94 | $ | 10.23 | ||||||
HC Advisors Shares | $ | — | $ | 9.94 | $ | 10.23 |
(a) | Amounts designated as “—” are $0 or have been rounded to $0. Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
169
HC CAPITAL TRUST
Statements of Operations
For the Six Months Ended December 31, 2013 (Unaudited)
(Amounts in thousands)
The Value Equity Portfolio | The Institutional Value Equity Portfolio | The Growth Equity Portfolio | The Institutional Growth Equity Portfolio | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 9 | $ | 12 | $ | — | $ | 1,143 | ||||||||
Dividends (net of foreign withholding tax of $23, $34, $4 and $7, respectively) | 7,955 | 11,217 | 5,571 | 8,003 | ||||||||||||
Total Investment Income | 7,964 | 11,229 | 5,571 | 9,146 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 601 | 875 | 624 | 871 | ||||||||||||
Management fees | 166 | 236 | 198 | 308 | ||||||||||||
Administrative services fees | 98 | 140 | 117 | 182 | ||||||||||||
Distribution fees – HC Advisors Shares | 2 | 2 | 2 | 2 | ||||||||||||
Professional fees | 90 | 58 | 50 | 128 | ||||||||||||
Compliance service fees | 9 | 6 | 6 | 15 | ||||||||||||
Custodian fees | 86 | 44 | 37 | 90 | ||||||||||||
Registration and filing fees | 12 | 8 | 10 | 9 | ||||||||||||
Trustee fees | 26 | 19 | 17 | 44 | ||||||||||||
Other | 40 | 35 | 24 | 54 | ||||||||||||
Total Expenses before waivers and expenses paid indirectly | 1,130 | 1,423 | 1,085 | 1,703 | ||||||||||||
Less: Expenses waived by Specialist Manager | (29 | ) | (40 | ) | — | — | ||||||||||
Distribution fees waived – HC Advisors Shares | (2 | ) | (2 | ) | (2 | ) | (2 | ) | ||||||||
Expenses paid indirectly | (8 | ) | (17 | ) | (4 | ) | (5 | ) | ||||||||
Net Expenses | 1,091 | 1,364 | 1,079 | 1,696 | ||||||||||||
Net Investment Income | 6,873 | 9,865 | 4,492 | 7,450 | ||||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | 58,041 | 81,224 | 28,269 | 32,423 | ||||||||||||
Net realized gains/(losses) from futures transactions | — | — | — | 14,901 | ||||||||||||
Net realized gains/(losses) from written options transactions | — | — | — | 372 | ||||||||||||
Net realized gains/(losses) from swap transactions | — | — | — | (600 | ) | |||||||||||
Net realized gains/(losses) from foreign currency transactions | (1 | ) | (1 | ) | — | 281 | ||||||||||
Net realized gains/(losses) from investments, futures, written options and foreign currency transactions | 58,040 | 81,233 | 28,269 | 47,377 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments | 23,038 | 35,771 | 91,979 | 126,164 | ||||||||||||
Change in unrealized appreciation/(depreciation) on futures | — | — | — | 7,544 | ||||||||||||
Change in unrealized appreciation/(depreciation) on written options | — | — | — | 45 | ||||||||||||
Change in unrealized appreciation/(depreciation) on swaps | — | — | — | 66 | ||||||||||||
Change in unrealized appreciation/(depreciation) on foreign currency translations | — | 2 | — | 326 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, written options and foreign currency translations | 23,038 | 35,773 | 91,979 | 134,145 | ||||||||||||
Net realized/unrealized gains from investments, futures, written options and foreign currency transactions | 81,078 | 116,996 | 120,248 | 181,522 | ||||||||||||
Change in net assets resulting from operations | $ | 87,951 | $ | 126,861 | $ | 124,740 | $ | 188,972 |
See accompanying notes to financial statements.
170
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2013 (Unaudited)
(Amounts in thousands)
The Small Capitalization–Mid Capitalization Equity Portfolio | The Institutional Small Capitalization–Mid Capitalization Equity Portfolio | The Real Estate Securities Portfolio (a) | The Commodity Returns Strategy Portfolio (b) | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | — | $ | — | $ | — | $ | 7,114 | ||||||||
Dividends (net of foreign withholding tax of $1, $2 and $597, respectively) | 615 | 919 | 1,243 | — | ||||||||||||
Total Investment Income | 615 | 919 | 1,243 | 7,114 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 259 | 489 | 293 | 2,657 | ||||||||||||
Management fees | 30 | 45 | 22 | 252 | ||||||||||||
Administrative services fees | 18 | 27 | 13 | 149 | ||||||||||||
Distribution fees – HC Advisors Shares | — | — | — | 2 | ||||||||||||
Professional fees | 7 | 12 | 3 | 53 | ||||||||||||
Compliance service fees | 1 | 1 | — | 6 | ||||||||||||
Custodian fees | 11 | 12 | 1 | 75 | ||||||||||||
Registration and filing fees | 7 | 5 | 5 | 11 | ||||||||||||
Trustee fees | 2 | 4 | — | 18 | ||||||||||||
Other | 9 | 12 | 1 | 37 | ||||||||||||
Total Expenses before waivers and expenses paid indirectly | 344 | 607 | 338 | 3,260 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | — | — | — | (2 | ) | |||||||||||
Expenses paid indirectly | (3 | ) | (6 | ) | — | (6 | ) | |||||||||
Net Expenses | 341 | 601 | 338 | 3,252 | ||||||||||||
Net Investment Income | 274 | 318 | 905 | 3,862 | ||||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | 9,618 | 24,326 | (15 | ) | 4,091 | |||||||||||
Net realized gains/(losses) from futures transactions | 35 | — | — | (5,070 | ) | |||||||||||
Net realized gains/(losses) from written options transactions | — | — | — | 123 | ||||||||||||
Net realized gains/(losses) from swap transactions | — | — | — | (6,358 | ) | |||||||||||
Net realized gains/(losses) from foreign currency transactions | — | — | — | (523 | ) | |||||||||||
Net realized gains/(losses) from investments, futures, written options and foreign currency transactions | 9,653 | 24,326 | (15 | ) | (7,737 | ) | ||||||||||
Change in unrealized appreciation/(depreciation) on investments | 10,428 | 3,160 | (219 | ) | 76,980 | |||||||||||
Change in unrealized appreciation/(depreciation) on futures | — | — | — | 7,732 | ||||||||||||
Change in unrealized appreciation/(depreciation) on written options | — | — | — | 144 | ||||||||||||
Change in unrealized appreciation/(depreciation) on swaps | — | — | — | 7,073 | ||||||||||||
Change in unrealized appreciation/(depreciation) on foreign currency translations | — | — | — | 2,113 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, written options and foreign currency translations | 10,428 | 3,160 | (219 | ) | 94,042 | |||||||||||
Net realized/unrealized gains/(losses) from investments, futures, written options and foreign currency transactions | 20,081 | 27,486 | (234 | ) | 86,305 | |||||||||||
Change in net assets resulting from operations | $ | 20,355 | $ | 27,804 | $ | 671 | $ | 90,167 |
(a) | For the period September 12, 2013 (commencement of operations) through December 31, 2013. |
(b) | Statement has been consolidated. See Note 2M in Notes to Financial Statements for basis of consolidation. |
See accompanying notes to financial statements.
171
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2013 (Unaudited)
(Amounts in thousands)
The International Equity Portfolio | The Institutional International Equity Portfolio | The Emerging Markets Portfolio | The Core Fixed Income Portfolio | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 1 | $ | 1 | $ | 3 | $ | 1,177 | ||||||||
Dividends (net of foreign withholding tax of $1,479, $2,897 and $1,922, respectively) | 13,363 | 24,537 | 15,341 | 30 | ||||||||||||
Total Investment Income | 13,364 | 24,538 | 15,344 | 1,207 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 2,225 | 3,896 | 3,298 | 56 | ||||||||||||
Management fees | 381 | 673 | 310 | 24 | ||||||||||||
Administrative services fees | 225 | 397 | 183 | 14 | ||||||||||||
Distribution fees – HC Advisors Shares | 4 | 5 | 3 | 3 | ||||||||||||
Professional fees | 75 | 202 | 109 | 14 | ||||||||||||
Compliance service fees | 9 | 24 | 11 | 1 | ||||||||||||
Custodian fees | 177 | 446 | 941 | 11 | ||||||||||||
Registration and filing fees | 11 | 11 | 9 | 5 | ||||||||||||
Trustee fees | 26 | 72 | 34 | 4 | ||||||||||||
Other | 280 | 132 | 72 | 6 | ||||||||||||
Total Expenses before waivers and expenses paid indirectly | 3,413 | 5,858 | 4,970 | 138 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | (4 | ) | (5 | ) | (3 | ) | (3 | ) | ||||||||
Expenses paid indirectly | (7 | ) | (19 | ) | (5 | ) | — | |||||||||
Net Expenses | 3,402 | 5,834 | 4,962 | 135 | ||||||||||||
Net Investment Income | 9,962 | 18,704 | 10,382 | 1,072 | ||||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | 71,075 | 122,788 | (14,987 | ) | (303 | ) | ||||||||||
Net realized gains/(losses) from futures transactions | 48 | 123 | 643 | — | ||||||||||||
Net realized gains/(losses) from foreign currency transactions | (89 | ) | (599 | ) | (1,510 | ) | — | |||||||||
Net realized gains/(losses) from investments, futures and foreign currency transactions | 71,034 | 122,312 | (15,854 | ) | (303 | ) | ||||||||||
Change in unrealized appreciation/(depreciation) on investments | 158,537 | 282,821 | 101,171 | (313 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on futures | (40 | ) | (75 | ) | (148 | ) | — | |||||||||
Change in unrealized appreciation/(depreciation) on foreign currency translations | 277 | 495 | (179 | ) | — | |||||||||||
Change in unrealized appreciation/(depreciation) on investments, futures and foreign currency translations | 158,774 | 283,241 | 100,844 | (313 | ) | |||||||||||
Net realized/unrealized gains/(losses) from investments, futures and foreign currency transactions | 229,808 | 405,553 | 84,990 | (616 | ) | |||||||||||
Change in net assets resulting from operations | $ | 239,770 | $ | 424,257 | $ | 95,372 | $ | 456 |
See accompanying notes to financial statements.
172
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2013 (Unaudited)
(Amounts in thousands)
The Fixed Income Opportunity Portfolio | The U.S. Government Fixed Income Securities Portfolio | The U.S. Corporate Fixed Income Securities Portfolio | The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 25,380 | $ | 1,843 | $ | 3,925 | $ | 2,680 | ||||||||
Dividends (net of foreign withholding tax of, respectively) | 620 | — | 184 | — | ||||||||||||
Total Investment Income | 26,000 | 1,843 | 4,109 | 2,680 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 775 | 77 | 245 | 75 | ||||||||||||
Management fees | 216 | 65 | 56 | 64 | ||||||||||||
Administrative services fees | 127 | 38 | 33 | 38 | ||||||||||||
Distribution fees – HC Advisors Shares | 1 | — | — | — | ||||||||||||
Professional fees | 38 | 19 | 12 | 21 | ||||||||||||
Compliance service fees | 5 | 2 | 1 | 2 | ||||||||||||
Custodian fees | 32 | 12 | 6 | 14 | ||||||||||||
Registration and filing fees | 10 | 5 | 5 | 5 | ||||||||||||
Trustee fees | 14 | 7 | 5 | 7 | ||||||||||||
Other | 28 | 7 | 3 | 8 | ||||||||||||
Total Expenses before waivers and expenses paid indirectly | 1,246 | 232 | 366 | 234 | ||||||||||||
Less: Expenses waived by Specialist Manager | (23 | ) | — | — | — | |||||||||||
Distribution fees waived – HC Advisors Shares | (1 | ) | — | — | — | |||||||||||
Net Expenses | 1,222 | 232 | 366 | 234 | ||||||||||||
Net Investment Income | 24,778 | 1,611 | 3,743 | 2,446 | ||||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | 7,569 | (447 | ) | (1,595 | ) | (759 | ) | |||||||||
Net realized gains/(losses) from investments | 7,569 | (447 | ) | (1,595 | ) | (759 | ) | |||||||||
Change in unrealized appreciation/(depreciation) on investments | 11,177 | (2,942 | ) | 1,231 | (874 | ) | ||||||||||
Change in unrealized appreciation/(depreciation) on investments | 11,177 | (2,942 | ) | 1,231 | (874 | ) | ||||||||||
Net realized/unrealized gains/(losses) from investments | 18,746 | (3,389 | ) | (364 | ) | (1,633 | ) | |||||||||
Change in net assets resulting from operations | $ | 43,524 | $ | (1,778 | ) | $ | 3,379 | $ | 813 |
See accompanying notes to financial statements.
173
HC CAPITAL TRUST
Statements of Operations (concluded)
For the Six Months Ended December 31, 2013 (Unaudited)
(Amounts in thousands)
The Short-Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond II Portfolio | ||||||||||
INVESTMENT INCOME: | ||||||||||||
Interest | $ | 168 | $ | 6,091 | $ | 927 | ||||||
Total Investment Income | 168 | 6,091 | 927 | |||||||||
EXPENSES: | ||||||||||||
Advisory fees | 14 | 364 | 47 | |||||||||
Management fees | 6 | 105 | 19 | |||||||||
Administrative services fees | 3 | 62 | 11 | |||||||||
Distribution fees – HC Advisors Shares | — | 2 | 1 | |||||||||
Professional fees | 1 | 22 | 4 | |||||||||
Compliance service fees | — | 2 | 1 | |||||||||
Custodian fees | 1 | 12 | 4 | |||||||||
Registration and filing fees | 3 | 7 | 6 | |||||||||
Trustee fees | — | 8 | 1 | |||||||||
Other | — | 8 | — | |||||||||
Total Expenses before waivers and expenses paid indirectly | 28 | 592 | 94 | |||||||||
Less: Distribution fees waived – HC Advisors Shares | — | (2 | ) | (1 | ) | |||||||
Net Expenses | 28 | 590 | 93 | |||||||||
Net Investment Income | 140 | 5,501 | 834 | |||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||
Net realized gains/(losses) from investment transactions | 3 | 1,102 | (75 | ) | ||||||||
Net realized gains/(losses) from investments | 3 | 1,102 | (75 | ) | ||||||||
Change in unrealized appreciation/(depreciation) on investments | 25 | (1,564 | ) | (17 | ) | |||||||
Change in unrealized appreciation/(depreciation) on investments | 25 | (1,564 | ) | (17 | ) | |||||||
Net realized/unrealized gains/(losses) from investments | 28 | (462 | ) | (92 | ) | |||||||
Change in net assets resulting from operations | $ | 168 | $ | 5,039 | $ | 742 |
See accompanying notes to financial statements.
174
HC CAPITAL TRUST
Statements of Changes in Net Assets
(Amounts in thousands)
The Value Equity Portfolio | The Institutional Value Equity Portfolio | The Growth Equity Portfolio | ||||||||||||||||||||||
Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 6,873 | $ | 18,721 | $ | 9,865 | $ | 29,037 | $ | 4,492 | $ | 10,768 | ||||||||||||
Net realized gains from investments and foreign currency transactions | 58,040 | 65,200 | 81,223 | 110,987 | 28,269 | 54,900 | ||||||||||||||||||
Change in unrealized appreciation on investments and foreign currency translations | 23,038 | 75,026 | 35,773 | 108,801 | 91,979 | 40,848 | ||||||||||||||||||
Change in net assets resulting from operations | 87,951 | 158,947 | 126,861 | 248,825 | 124,740 | 106,516 | ||||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (8,083 | ) | (17,697 | ) | (11,572 | ) | (28,092 | ) | (4,931 | ) | (10,714 | ) | ||||||||||||
HC Advisors Shares | (21 | ) | (34 | ) | (22 | ) | (50 | ) | (11 | ) | (21 | ) | ||||||||||||
Net realized gains from investment, futures, options, and foreign currency transactions: | ||||||||||||||||||||||||
HC Strategic Shares | — | — | (142,904 | ) | (51,203 | ) | — | — | ||||||||||||||||
HC Advisors Shares | — | — | (307 | ) | (87 | ) | — | — | ||||||||||||||||
Change in net assets resulting from distributions | (8,104 | ) | (17,731 | ) | (154,805 | ) | (79,432 | ) | (4,942 | ) | (10,735 | ) | ||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 47,421 | 183,993 | 143,687 | 87,508 | 71,921 | 50,319 | ||||||||||||||||||
Proceeds from reinvestment of dividends | 6,914 | 15,226 | 153,424 | 76,916 | 4,100 | 8,974 | ||||||||||||||||||
Cost of shares redeemed | (177,406 | ) | (268,524 | ) | (222,596 | ) | (355,459 | ) | (110,076 | ) | (150,226 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (123,071 | ) | (69,305 | ) | 74,515 | (191,035 | ) | (34,055 | ) | (90,933 | ) | |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 80 | 553 | 36 | 154 | 50 | 620 | ||||||||||||||||||
Cost of shares redeemed | (93 | ) | (59 | ) | (332 | ) | (2 | ) | (67 | ) | (192 | ) | ||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | (13 | ) | 494 | (296 | ) | 152 | (17 | ) | 428 | |||||||||||||||
Change in net assets from shares of beneficial interest | (123,084 | ) | (68,811 | ) | 74,219 | (190,883 | ) | (34,072 | ) | (90,505 | ) | |||||||||||||
Change in net assets | (43,237 | ) | 72,405 | 46,275 | (21,490 | ) | 85,726 | 5,276 | ||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 681,510 | 609,105 | 938,964 | 960,454 | 737,790 | 732,514 | ||||||||||||||||||
End of period | $ | 638,273 | $ | 681,510 | $ | 985,239 | $ | 938,964 | $ | 823,516 | $ | 737,790 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (103 | ) | $ | 1,128 | $ | (159 | ) | $ | 1,570 | $ | 49 | $ | 499 | ||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 1,973 | 13,819 | 8,380 | 6,623 | 2,309 | 3,163 | ||||||||||||||||||
Reinvested | 426 | 1,117 | 11,296 | 5,984 | 217 | 558 | ||||||||||||||||||
Redeemed | (10,196 | ) | (19,210 | ) | (13,312 | ) | (24,836 | ) | (4,385 | ) | (9,443 | ) | ||||||||||||
Change in HC Strategic Shares | (7,797 | ) | (4,274 | ) | 6,364 | (12,229 | ) | (1,859 | ) | (5,722 | ) | |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | 5 | 42 | 2 | 12 | 3 | 39 | ||||||||||||||||||
Redeemed | (6 | ) | (4 | ) | (22 | ) | — | (4 | ) | (11 | ) | |||||||||||||
Change in HC Advisors Shares | (1 | ) | 38 | (20 | ) | 12 | (1 | ) | 28 | |||||||||||||||
Total change in shares | (7,798 | ) | (4,236 | ) | 6,344 | (12,217 | ) | (1,860 | ) | (5,694 | ) |
See accompanying notes to financial statements.
175
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Institutional Growth Equity Portfolio | The Small Capitalization–Mid Capitalization Equity Portfolio | The Institutional Small Capitalization–Mid Capitalization Equity Portfolio | ||||||||||||||||||||||
Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 7,450 | $ | 17,066 | $ | 274 | $ | 1,256 | $ | 318 | $ | 1,364 | ||||||||||||
Net realized gains from investments, futures, written options and foreign currency transactions | 47,377 | 109,211 | 9,653 | 17,878 | 24,326 | 25,484 | ||||||||||||||||||
Change in unrealized appreciation on investments, futures, written options and foreign currency translations | 134,145 | 50,060 | 10,428 | 11,297 | 3,160 | 22,004 | ||||||||||||||||||
Change in net assets resulting from operations | 188,972 | 176,337 | 20,355 | 30,431 | 27,804 | 48,852 | ||||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (9,495 | ) | (17,369 | ) | (311 | ) | (1,246 | ) | (330 | ) | (1,469 | ) | ||||||||||||
HC Advisors Shares | (14 | ) | (29 | ) | (1 | ) | (2 | ) | — | (2 | ) | |||||||||||||
Net realized gains from investment, futures, options, and foreign currency transactions: | ||||||||||||||||||||||||
HC Strategic Shares | (106,330 | ) | (141,758 | ) | — | — | (27,745 | ) | — | |||||||||||||||
HC Advisors Shares | (167 | ) | (253 | ) | — | — | (39 | ) | — | |||||||||||||||
Change in net assets resulting from distributions | (116,006 | ) | (159,409 | ) | (312 | ) | (1,248 | ) | (28,114 | ) | (1,471 | ) | ||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 205,827 | 788,140 | 13,673 | 10,300 | 38,761 | 12,385 | ||||||||||||||||||
Proceeds from reinvestment of dividends | 114,941 | 157,759 | 271 | 1,077 | 28,000 | 1,260 | ||||||||||||||||||
Cost of shares redeemed | (177,431 | ) | (201,162 | ) | (21,427 | ) | (52,821 | ) | (64,139 | ) | (80,711 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 143,337 | 35,411 | (7,483 | ) | (41,444 | ) | 2,622 | (67,066 | ) | |||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 1 | 285 | 4 | 91 | — | — | ||||||||||||||||||
Cost of shares redeemed | (68 | ) | (283 | ) | (24 | ) | (115 | ) | (36 | ) | (97 | ) | ||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | (67 | ) | 2 | (20 | ) | (24 | ) | (36 | ) | (97 | ) | |||||||||||||
Change in net assets from shares of beneficial interest | 143,270 | 35,413 | (7,503 | ) | (41,468 | ) | 2,586 | (67,163 | ) | |||||||||||||||
Change in net assets | 216,236 | 52,341 | 12,540 | (12,285 | ) | 2,276 | (19,782 | ) | ||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 1,144,716 | 1,092,375 | 112,891 | 125,176 | 177,405 | 197,187 | ||||||||||||||||||
End of period | $ | 1,360,952 | $ | 1,144,716 | $ | 125,431 | $ | 112,891 | $ | 179,681 | $ | 177,405 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (66 | ) | $ | 1,993 | $ | 27 | $ | 65 | $ | (77 | ) | $ | (65 | ) | |||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 9,988 | 5,323 | 89 | 691 | 1,160 | 855 | ||||||||||||||||||
Reinvested | 7,474 | 11,513 | 14 | 73 | 1,753 | 88 | ||||||||||||||||||
Redeemed | (8,182 | ) | (1,328 | ) | (500 | ) | (3,318 | ) | (2,477 | ) | (5,134 | ) | ||||||||||||
Change in HC Strategic Shares | 9,280 | 3,556 | (397 | ) | (2,554 | ) | 436 | (4,191 | ) | |||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | 20 | — | 6 | — | — | ||||||||||||||||||
Redeemed | (4 | ) | (19 | ) | (1 | ) | (7 | ) | (2 | ) | (6 | ) | ||||||||||||
Change in HC Advisors Shares | (4 | ) | 1 | (1 | ) | (1 | ) | (2 | ) | (6 | ) | |||||||||||||
Total change in shares | 9,276 | 3,557 | (398 | ) | (2,555 | ) | 434 | (4,197 | ) |
See accompanying notes to financial statements.
176
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Real Estate Securities Portfolio | The Commodity Returns Strategy Portfolio (b) | The International Equity Portfolio | ||||||||||||||||||
Six Months Ended December 31, 2013 (a) | Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | ||||||||||||||||
Operations: | ||||||||||||||||||||
Net investment income | $ | 905 | $ | 3,862 | $ | 9,230 | $ | 9,962 | $ | 38,574 | ||||||||||
Net realized gains/(losses) from investments, futures, written options and foreign currency transactions | (15 | ) | (7,737 | ) | (20,458 | ) | 71,034 | 75,995 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, written options and foreign currency translations | (219 | ) | 94,042 | (11,740 | ) | 158,774 | 118,039 | |||||||||||||
Change in net assets resulting from operations | 671 | 90,167 | (22,968 | ) | 239,770 | 232,608 | ||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||
Net investment income: | ||||||||||||||||||||
HC Strategic Shares | (1,467 | ) | (4,088 | ) | (8,734 | ) | (13,990 | ) | (37,940 | ) | ||||||||||
HC Advisors Shares | — | (5 | ) | (12 | ) | (28 | ) | (74 | ) | |||||||||||
Net realized gains from investment, futures, options, and foreign currency transactions: | ||||||||||||||||||||
HC Strategic Shares | (18 | ) | — | — | (4,101 | ) | — | |||||||||||||
HC Advisors Shares | — | — | — | (8 | ) | — | ||||||||||||||
HC Strategic Shares | — | — | — | — | — | |||||||||||||||
Change in net assets resulting from distributions | (1,485 | ) | (4,093 | ) | (8,746 | ) | (18,127 | ) | (38,014 | ) | ||||||||||
HC Strategic Shares | ||||||||||||||||||||
Proceeds from shares issued | 172,013 | 91,489 | 277,246 | 40,658 | 148,701 | |||||||||||||||
Proceeds from reinvestment of dividends | 1,227 | 3,399 | 7,227 | 15,600 | 32,160 | |||||||||||||||
Cost of shares redeemed | (334 | ) | (26,114 | ) | (33,362 | ) | (102,932 | ) | (179,762 | ) | ||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 172,906 | 68,774 | 251,111 | (46,674 | ) | 1,099 | ||||||||||||||
HC Advisors Shares | ||||||||||||||||||||
Proceeds from shares issued | — | 50 | 357 | 118 | 1,156 | |||||||||||||||
Proceeds from reinvestment of dividends | — | — | — | — | — | |||||||||||||||
Cost of shares redeemed | — | (26 | ) | (67 | ) | (161 | ) | (341 | ) | |||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | — | 24 | 290 | (43 | ) | 815 | ||||||||||||||
Change in net assets from shares of beneficial interest | 172,906 | 68,798 | 251,401 | (46,717 | ) | 1,914 | ||||||||||||||
Change in net assets | 172,092 | 154,872 | 219,687 | 174,926 | 196,508 | |||||||||||||||
Net Assets: | ||||||||||||||||||||
Beginning of period | — | 907,501 | 687,814 | 1,388,620 | 1,192,112 | |||||||||||||||
End of period | $ | 172,092 | $ | 1,062,373 | $ | 907,501 | $ | 1,563,546 | $ | 1,388,620 | ||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (562 | ) | $ | 299 | $ | 1,113 | $ | 150 | $ | 4,206 | |||||||||
Share Transactions: | ||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||
Issued | 62,141 | 8,670 | 26,142 | 3,270 | 13,337 | |||||||||||||||
Reinvested | 446 | 319 | 672 | 1,198 | 2,804 | |||||||||||||||
Redeemed | (119 | ) | (2,475 | ) | (3,108 | ) | (8,138 | ) | (16,244 | ) | ||||||||||
Change in HC Strategic Shares | 62,468 | 6,514 | 23,706 | (3,670 | ) | (103 | ) | |||||||||||||
HC Advisors Shares | ||||||||||||||||||||
Issued | — | 4 | 33 | 10 | 107 | |||||||||||||||
Redeemed | — | (2 | ) | (6 | ) | (13 | ) | (29 | ) | |||||||||||
Change in HC Advisors Shares | — | 2 | 27 | (3 | ) | 78 | ||||||||||||||
Total change in shares | 62,468 | 6,516 | 23,733 | (3,673 | ) | (25 | ) |
(a) | For the period September 12, 2013 (commencement of operations) through December 31, 2013. |
(b) | Statement has been consolidated. See Note 2M in Notes to Financial Statements for basis of consolidation. |
See accompanying notes to financial statements.
177
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Institutional International Equity Portfolio | The Emerging Markets Portfolio | The Core Fixed Income Portfolio | ||||||||||||||||||||||
Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 18,704 | $ | 65,883 | $ | 10,382 | $ | 20,938 | $ | 1,072 | $ | 2,068 | ||||||||||||
Net realized gains/(losses) from investments, futures and foreign currency transactions | 122,312 | 80,629 | (15,854 | ) | (3,986 | ) | (303 | ) | 1,469 | |||||||||||||||
Change in unrealized appreciation/(depreciation) on investments, futures and foreign currency translations | 283,241 | 243,796 | 100,844 | (44,699 | ) | (313 | ) | (4,466 | ) | |||||||||||||||
Change in net assets resulting from operations | 424,257 | 390,308 | 95,372 | (27,747 | ) | 456 | (929 | ) | ||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (28,882 | ) | (64,552 | ) | (25,766 | ) | (12,659 | ) | (1,304 | ) | (2,495 | ) | ||||||||||||
HC Advisors Shares | (37 | ) | (94 | ) | (39 | ) | (22 | ) | (35 | ) | (61 | ) | ||||||||||||
Net realized gains from investment, futures, options, and foreign currency transactions: | ||||||||||||||||||||||||
HC Strategic Shares | (100,494 | ) | (14,436 | ) | — | — | (429 | ) | (1,728 | ) | ||||||||||||||
HC Advisors Shares | (138 | ) | (23 | ) | — | — | (12 | ) | (42 | ) | ||||||||||||||
Change in net assets resulting from distributions | (129,551 | ) | (79,105 | ) | (25,805 | ) | (12,681 | ) | (1,780 | ) | (4,326 | ) | ||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 215,106 | 314,885 | 245,534 | 463,014 | 8,649 | 16,880 | ||||||||||||||||||
Proceeds from reinvestment of dividends | 125,435 | 69,282 | 22,829 | 11,619 | 1,730 | 4,215 | ||||||||||||||||||
Cost of shares redeemed | (213,693 | ) | (253,236 | ) | (52,879 | ) | (74,063 | ) | (6,499 | ) | (17,850 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 126,848 | 130,931 | 215,484 | 400,570 | 3,880 | 3,245 | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 82 | 8 | 212 | 614 | 273 | 263 | ||||||||||||||||||
Cost of shares redeemed | (242 | ) | (262 | ) | (109 | ) | (133 | ) | (8 | ) | (24 | ) | ||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | (160 | ) | (254 | ) | 103 | 481 | 265 | 239 | ||||||||||||||||
Change in net assets from shares of beneficial interest | 126,688 | 130,677 | 215,587 | 401,051 | 4,145 | 3,484 | ||||||||||||||||||
Change in net assets | 421,394 | 441,880 | 285,154 | 360,623 | 2,821 | (1,771 | ) | |||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 2,435,201 | 1,993,321 | 1,080,986 | 720,363 | 95,356 | 97,127 | ||||||||||||||||||
End of period | $ | 2,856,595 | $ | 2,435,201 | $ | 1,366,140 | $ | 1,080,986 | $ | 98,177 | $ | 95,356 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (3,770 | ) | $ | 6,445 | $ | (2,150 | ) | $ | 13,273 | $ | (200 | ) | $ | 67 | |||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 17,983 | 28,953 | 13,043 | 24,488 | 894 | 1,660 | ||||||||||||||||||
Reinvested | 10,614 | 6,385 | 1,229 | 593 | 179 | 414 | ||||||||||||||||||
Redeemed | (17,641 | ) | (23,861 | ) | (2,824 | ) | (3,851 | ) | (671 | ) | (1,758 | ) | ||||||||||||
Change in HC Strategic Shares | 10,956 | 11,477 | 11,448 | 21,230 | 402 | 316 | ||||||||||||||||||
HC Advisors Shares | �� | |||||||||||||||||||||||
Issued | 7 | 1 | 12 | 33 | 28 | 26 | ||||||||||||||||||
Redeemed | (20 | ) | (25 | ) | (5 | ) | (7 | ) | (1 | ) | (3 | ) | ||||||||||||
Change in HC Advisors Shares | (13 | ) | (24 | ) | 7 | 26 | 27 | 23 | ||||||||||||||||
Total change in shares | 10,943 | 11,453 | 11,455 | 21,256 | 429 | 339 |
See accompanying notes to financial statements.
178
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Fixed Income Opportunity Portfolio | The U.S. Government Fixed Income Securities Portfolio | The U.S. Corporate Fixed Income Securities Portfolio | ||||||||||||||||||||||
Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 24,778 | $ | 42,004 | $ | 1,611 | $ | 3,117 | $ | 3,743 | $ | 7,173 | ||||||||||||
Net realized gains/(losses) from investments | 7,569 | 15,556 | (447 | ) | 2,918 | (1,595 | ) | 6,627 | ||||||||||||||||
Change in unrealized appreciation/(depreciation) on investments | 11,177 | (5,856 | ) | (2,942 | ) | (10,545 | ) | 1,231 | (14,532 | ) | ||||||||||||||
Change in net assets resulting from operations | 43,524 | 51,704 | (1,778 | ) | (4,510 | ) | 3,379 | (732 | ) | |||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (27,582 | ) | (41,418 | ) | (1,690 | ) | (3,091 | ) | (3,971 | ) | (7,107 | ) | ||||||||||||
HC Advisors Shares | (32 | ) | (52 | ) | — | — | — | — | ||||||||||||||||
Net realized gains from investment, futures, options, and foreign currency transactions: | ||||||||||||||||||||||||
HC Strategic Shares | (15,186 | ) | — | (786 | ) | (6,578 | ) | (3,582 | ) | (5,533 | ) | |||||||||||||
HC Advisors Shares | (17 | ) | — | — | — | — | — | |||||||||||||||||
Change in net assets resulting from distributions | (42,817 | ) | (41,470 | ) | (2,476 | ) | (9,669 | ) | (7,553 | ) | (12,640 | ) | ||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 178,058 | 164,816 | 16,627 | 42,481 | 16,878 | 32,445 | ||||||||||||||||||
Proceeds from reinvestment of dividends | 41,175 | 39,043 | 2,238 | 9,064 | 7,097 | 11,798 | ||||||||||||||||||
Cost of shares redeemed | (63,114 | ) | (47,895 | ) | (28,462 | ) | �� | (22,126 | ) | (14,079 | ) | (18,710 | ) | |||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 156,119 | 155,964 | (9,597 | ) | 29,419 | 9,896 | 25,533 | |||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 99 | 159 | — | — | — | — | ||||||||||||||||||
Cost of shares redeemed | (2 | ) | (9 | ) | — | — | — | — | ||||||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | 97 | 150 | — | — | — | — | ||||||||||||||||||
Change in net assets from shares of beneficial interest | 156,216 | 156,114 | (9,597 | ) | 29,419 | 9,896 | 25,533 | |||||||||||||||||
Change in net assets | 156,923 | 166,348 | (13,851 | ) | 15,240 | 5,722 | 12,161 | |||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 753,054 | 586,706 | 265,390 | 250,150 | 220,054 | 207,893 | ||||||||||||||||||
End of period | $ | 909,977 | $ | 753,054 | $ | 251,539 | $ | 265,390 | $ | 225,776 | $ | 220,054 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | 39 | $ | 2,875 | $ | (5 | ) | $ | 74 | $ | (17 | ) | $ | 211 | ||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 23,819 | 21,553 | 1,690 | 4,175 | 1,705 | 3,083 | ||||||||||||||||||
Reinvested | 5,533 | 5,191 | 228 | 887 | 719 | 1,115 | ||||||||||||||||||
Redeemed | (8,447 | ) | (6,303 | ) | (2,900 | ) | (2,167 | ) | (1,420 | ) | (1,764 | ) | ||||||||||||
Change in HC Strategic Shares | 20,905 | 20,441 | (982 | ) | 2,895 | 1,004 | 2,434 | |||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | 13 | 20 | — | — | — | — | ||||||||||||||||||
Redeemed | — | (1 | ) | — | — | — | — | |||||||||||||||||
Change in HC Advisors Shares | 13 | 19 | — | — | — | — | ||||||||||||||||||
Total change in shares | 20,918 | 20,460 | (982 | ) | 2,895 | 1,004 | 2,434 |
See accompanying notes to financial statements.
179
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | The Short-Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond Portfolio | ||||||||||||||||||||||
Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 2,446 | $ | 4,562 | $ | 140 | $ | 313 | $ | 5,501 | $ | 12,196 | ||||||||||||
Net realized gains/(losses) from investments | (759 | ) | 672 | 3 | 50 | 1,102 | 13,079 | |||||||||||||||||
Change in unrealized appreciation/(depreciation) on investments | (874 | ) | (8,260 | ) | 25 | (306 | ) | (1,564 | ) | (18,330 | ) | |||||||||||||
Change in net assets resulting from operations | 813 | (3,026 | ) | 168 | 57 | 5,039 | 6,945 | |||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (4,108 | ) | (8,291 | ) | (151 | ) | (313 | ) | (5,854 | ) | (12,313 | ) | ||||||||||||
HC Advisors Shares | — | — | — | — | (28 | ) | (44 | ) | ||||||||||||||||
Net realized gains from investment, futures, options, and foreign currency transactions: | ||||||||||||||||||||||||
HC Strategic Shares | — | — | (44 | ) | (232 | ) | — | — | ||||||||||||||||
Change in net assets resulting from distributions | (4,108 | ) | (8,291 | ) | (195 | ) | (545 | ) | (5,882 | ) | (12,357 | ) | ||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 14,869 | 38,033 | 1,401 | 4,313 | 17,250 | 55,785 | ||||||||||||||||||
Proceeds from reinvestment of dividends | 3,486 | 6,971 | 192 | 535 | 5,640 | 11,859 | ||||||||||||||||||
Cost of shares redeemed | (15,632 | ) | (17,996 | ) | (1,444 | ) | (7,470 | ) | (29,602 | ) | (84,784 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 2,723 | 27,008 | 149 | (2,622 | ) | (6,712 | ) | (17,140 | ) | |||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | — | — | — | — | 219 | 1,185 | ||||||||||||||||||
Cost of shares redeemed | — | — | — | — | (13 | ) | (368 | ) | ||||||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | — | — | — | — | 206 | 817 | ||||||||||||||||||
Change in net assets from shares of beneficial interest | 2,723 | 27,008 | 149 | (2,622 | ) | (6,506 | ) | (16,323 | ) | |||||||||||||||
Change in net assets | (572 | ) | 15,691 | 122 | (3,110 | ) | (7,349 | ) | (21,735 | ) | ||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 253,548 | 237,857 | 22,608 | 25,718 | 421,686 | 443,421 | ||||||||||||||||||
End of period | $ | 252,976 | $ | 253,548 | $ | 22,730 | $ | 22,608 | $ | 414,337 | $ | 421,686 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (1,470 | ) | $ | 192 | $ | (19 | ) | $ | (8 | ) | $ | (49 | ) | $ | 332 | ||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 1,528 | 3,764 | 139 | 424 | 1,733 | 5,462 | ||||||||||||||||||
Reinvested | 358 | 689 | 19 | 52 | 567 | 1,162 | ||||||||||||||||||
Redeemed | (1,607 | ) | (1,782 | ) | (143 | ) | (732 | ) | (2,976 | ) | (8,287 | ) | ||||||||||||
Change in HC Strategic Shares | 279 | 2,671 | 15 | (256 | ) | (676 | ) | (1,663 | ) | |||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | — | — | — | 22 | 116 | ||||||||||||||||||
Redeemed | — | — | — | — | (1 | ) | (36 | ) | ||||||||||||||||
Change in HC Advisors Shares | — | — | — | — | 21 | 80 | ||||||||||||||||||
Total change in shares | 279 | 2,671 | 15 | (256 | ) | (655 | ) | (1,583 | ) |
See accompanying notes to financial statements.
180
HC CAPITAL TRUST
Statements of Changes in Net Assets (concluded)
(Amounts in thousands)
The Intermediate Term Municipal Bond II Portfolio | ||||||||
Six Months Ended December 31, 2013 | Year Ended June 30, 2013 | |||||||
Operations: | ||||||||
Net investment income | $ | 834 | $ | 1,513 | ||||
Net realized gains/(losses) from investments | (75 | ) | 224 | |||||
Change in unrealized depreciation on investments | (17 | ) | (1,991 | ) | ||||
Change in net assets resulting from operations | 742 | (254 | ) | |||||
Distributions to Shareholders from: | ||||||||
Net investment income: | ||||||||
HC Strategic Shares | (864 | ) | (1,494 | ) | ||||
HC Advisors Shares | (6 | ) | (8 | ) | ||||
Net realized gains from investment, futures, options, and foreign currency transactions: | ||||||||
HC Strategic Shares | (225 | ) | (193 | ) | ||||
HC Advisors Shares | (1 | ) | (1 | ) | ||||
Change in net assets resulting from distributions | (1,096 | ) | (1,696 | ) | ||||
HC Strategic Shares | ||||||||
Proceeds from shares issued | 5,180 | 13,037 | ||||||
Proceeds from reinvestment of dividends | 1,064 | 1,648 | ||||||
Cost of shares redeemed | (5,596 | ) | (11,653 | ) | ||||
Change in net assets from HC Strategic Shares of beneficial interest | 648 | 3,032 | ||||||
HC Advisors Shares | ||||||||
Proceeds from shares issued | 55 | 311 | ||||||
Cost of shares redeemed | (3 | ) | (112 | ) | ||||
Change in net assets from HC Advisors Shares of beneficial interest | 52 | 199 | ||||||
Change in net assets from shares of beneficial interest | 700 | 3,231 | ||||||
Change in net assets | 346 | 1,281 | ||||||
Net Assets: | ||||||||
Beginning of period | 73,935 | 72,654 | ||||||
End of period | $ | 74,281 | $ | 73,935 | ||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (29 | ) | $ | 7 | |||
Share Transactions: | ||||||||
HC Strategic Shares | ||||||||
Issued | 504 | 1,231 | ||||||
Reinvested | 104 | 156 | ||||||
Redeemed | (543 | ) | (1,096 | ) | ||||
Change in HC Strategic Shares | 65 | 291 | ||||||
HC Advisors Shares | ||||||||
Issued | 5 | 29 | ||||||
Redeemed | — | (10 | ) | |||||
Change in HC Advisors Shares | 5 | 19 | ||||||
Total change in shares | 70 | 310 |
See accompanying notes to financial statements.
181
HC CAPITAL TRUST
Financial Highlights
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting From Operations: | Distributions to Shareholders: | ||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss) | Net Realized/ Unrealized Gains (Losses) on Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Tax Return of capital | Total Distributions to Shareholders | ||||||||||||||||||||||||||
The Value Equity Portfolio HC Strategic Shares | |||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 14.94 | $ | 0.17 | $ | 1.97 | $ | 2.14 | $ | (0.20 | ) | $ | — | $ | — | $ | (0.20 | ) | |||||||||||||||
Year Ended June 30, 2013 | 12.22 | 0.38 | 2.69 | 3.07 | (0.35 | ) | — | — | (0.35 | ) | |||||||||||||||||||||||
Year Ended June 30, 2012 | 12.50 | 0.30 | (0.28 | ) | 0.02 | (0.30 | ) | — | — | (0.30 | ) | ||||||||||||||||||||||
Year Ended June 30, 2011 | 9.98 | 0.22 | 2.52 | 2.74 | (0.22 | ) | — | — | (0.22 | ) | |||||||||||||||||||||||
Year Ended June 30, 2010 | 8.84 | 0.21 | 1.13 | 1.34 | (0.20 | ) | — | — | (0.20 | ) | |||||||||||||||||||||||
Year Ended June 30, 2009 | 13.22 | 0.29 | (4.21 | ) | (3.92 | ) | (0.30 | ) | (0.16 | ) | — | (0.46 | ) | ||||||||||||||||||||
HC Advisors Shares | |||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 14.94 | $ | 0.17 | $ | 1.97 | $ | 2.14 | $ | (0.20 | ) | $ | — | $ | — | $ | (0.20 | ) | |||||||||||||||
Year Ended June 30, 2013 | 12.22 | 0.35 | 2.72 | 3.07 | (0.35 | ) | — | — | (0.35 | ) | |||||||||||||||||||||||
Year Ended June 30, 2012 | 12.49 | 0.31 | (0.28 | ) | 0.03 | (0.30 | ) | — | — | (0.30 | ) | ||||||||||||||||||||||
Period Ended June 30, 2011 (e) | 9.93 | 0.21 | 2.57 | 2.78 | (0.22 | ) | — | — | (0.22 | ) | |||||||||||||||||||||||
The Institutional Value Equity Portfolio | |||||||||||||||||||||||||||||||||
HC Strategic Shares | |||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 14.60 | $ | 0.15 | $ | 1.84 | $ | 1.99 | $ | (0.17 | ) | $ | (2.48 | ) | $ | — | $ | (2.65 | ) | ||||||||||||||
Year Ended June 30, 2013 | 12.55 | 0.38 | 2.69 | 3.07 | (0.37 | ) | (0.65 | ) | — | (1.02 | ) | ||||||||||||||||||||||
Year Ended June 30, 2012 | 12.96 | 0.13 | (0.06 | ) | 0.07 | (0.30 | ) | (0.18 | ) | — | (0.48 | ) | |||||||||||||||||||||
Year Ended June 30, 2011 | 10.26 | 0.23 | 2.67 | 2.90 | (0.20 | ) | — | — | (0.20 | ) | |||||||||||||||||||||||
Year Ended June 30, 2010 | 9.02 | 0.17 | 1.24 | 1.41 | (0.17 | ) | — | — | (0.17 | ) | |||||||||||||||||||||||
Period Ended June 30, 2009(g) | 12.93 | 0.26 | (3.93 | ) | (3.67 | ) | (0.24 | ) | — | — | (0.24 | ) | |||||||||||||||||||||
HC Advisors Shares | |||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 14.60 | $ | 0.17 | $ | 1.84 | $ | 2.00 | $ | (0.17 | ) | $ | (2.48 | ) | $ | — | $ | (2.65 | ) | ||||||||||||||
Year Ended June 30, 2013 | 12.55 | 0.37 | 2.70 | 3.07 | (0.37 | ) | (0.65 | ) | — | (1.02 | ) | ||||||||||||||||||||||
Year Ended June 30, 2012 | 12.97 | 0.14 | (0.08 | ) | 0.06 | (0.30 | ) | (0.18 | ) | — | (0.48 | ) | |||||||||||||||||||||
Period Ended June 30, 2011 (e) | 10.21 | 0.21 | 2.75 | 2.96 | (0.20 | ) | — | — | (0.20 | ) | |||||||||||||||||||||||
The Growth Equity Portfolio | |||||||||||||||||||||||||||||||||
HC Strategic Shares | |||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 16.95 | $ | 0.11 | $ | 2.82 | $ | 2.93 | $ | (0.12 | ) | $ | — | $ | — | $ | (0.12 | ) | |||||||||||||||
Year Ended June 30, 2013 | 14.88 | 0.24 | 2.07 | 2.31 | (0.24 | ) | — | — | (0.24 | ) | |||||||||||||||||||||||
Year Ended June 30, 2012 | 13.87 | 0.15 | 1.01 | 1.16 | (0.15 | ) | — | — | (0.15 | ) | |||||||||||||||||||||||
Year Ended June 30, 2011 | 10.39 | 0.10 | 3.48 | 3.58 | (0.10 | ) | — | — | (0.10 | ) | |||||||||||||||||||||||
Year Ended June 30, 2010 | 9.42 | 0.10 | 0.97 | 1.07 | (0.10 | ) | — | — | (0.10 | ) | |||||||||||||||||||||||
Year Ended June 30, 2009 | 12.09 | 0.10 | (2.67 | ) | (2.57 | ) | (0.10 | ) | — | — | (0.10 | ) | |||||||||||||||||||||
HC Advisors Shares | |||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 16.93 | $ | 0.11 | $ | 2.82 | $ | 2.93 | $ | (0.12 | ) | $ | — | $ | — | $ | (0.12 | ) | |||||||||||||||
Year Ended June 30, 2013 | 14.86 | $ | 0.22 | 2.09 | 2.31 | (0.24 | ) | — | — | (0.24 | ) | ||||||||||||||||||||||
Year Ended June 30, 2012 | 13.85 | 0.15 | 1.01 | 1.16 | (0.15 | ) | — | — | (0.15 | ) | |||||||||||||||||||||||
Period Ended June 30, 2011 (e) | 10.40 | 0.10 | 3.45 | 3.55 | (0.10 | ) | — | — | (0.10 | ) | |||||||||||||||||||||||
The Institutional Growth Equity Portfolio | |||||||||||||||||||||||||||||||||
HC Strategic Shares | |||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 15.00 | $ | 0.09 | $ | 2.34 | $ | 2.43 | $ | (0.12 | ) | $ | (1.41 | ) | $ | — | $ | (1.53 | ) | ||||||||||||||
Year Ended June 30, 2013 | 15.02 | 0.23 | 2.07 | 2.30 | (0.23 | ) | (2.10 | ) | — | (2.33 | ) | ||||||||||||||||||||||
Year Ended June 30, 2012 | 14.10 | 0.16 | 0.97 | 1.13 | (0.15 | ) | (0.06 | ) | — | (0.21 | ) | ||||||||||||||||||||||
Year Ended June 30, 2011 | 10.58 | 0.12 | 3.50 | 3.62 | (0.10 | ) | — | — | (0.10 | ) | |||||||||||||||||||||||
Year Ended June 30, 2010 | 9.50 | 0.07 | 1.10 | 1.17 | (0.09 | ) | — | — | (0.09 | ) | |||||||||||||||||||||||
Period Ended June 30, 2009(h) | 12.36 | 0.11 | (2.88 | ) | (2.77 | ) | (0.09 | ) | — | — | (0.09 | ) | |||||||||||||||||||||
HC Advisors Shares | |||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 15.00 | $ | 0.09 | $ | 2.34 | $ | 2.43 | $ | (0.12 | ) | $ | (1.41 | ) | $ | — | $ | (1.53 | ) | ||||||||||||||
Year Ended June 30, 2013 | 15.01 | 0.23 | 2.08 | 2.31 | (0.23 | ) | (2.09 | ) | — | (2.32 | ) | ||||||||||||||||||||||
Year Ended June 30, 2012 | 14.10 | 0.16 | 0.96 | 1.12 | (0.15 | ) | (0.06 | ) | — | (0.21 | ) | ||||||||||||||||||||||
Period Ended June 30, 2011 (e) | 10.59 | 0.11 | 3.50 | 3.61 | (0.10 | ) | — | — | (0.10 | ) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio Turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | Unaudited. |
(e) | For the period July 6, 2010 (commencement of operations) through June 30, 2011. |
(f) | Portfolio Turnover does not include TBA security transactions. |
(g) | For the period July 18, 2008 (commencement of operations) through June 30, 2009. |
(h) | For the period August 8, 2008 (commencement of operations) through June 30, 2009. |
(i) | For the period August 15, 2008 (commencement of operations) through June 30, 2009. |
(j) | Amount rounds to less than $0.005 per share. |
See accompanying notes to financial statements.
182
Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||||||
Net Asset Value, End of Period | Total Return (a) | Net Assets at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers (b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers (b) | Ratio of Expenses to Average Net Assets, Net of Waivers (b) | Ratio of Net Investment Income (Loss) to Average Net Assets (b) | Portfolio Turnover Rate (a)(c) | |||||||||||||||||||||||||||
The Value Equity Portfolio | ||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 16.88 | 14.38 | % | $ | 636,521 | 0.34 | % | 0.33 | % | 0.33 | % | 2.07 | % | 21.78 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 14.94 | 25.46 | % | $ | 679,946 | 0.29 | % | 0.27 | % | 0.27 | % | 2.73 | % | 54.28 | % | |||||||||||||||||||
Year Ended June 30, 2012 | 12.22 | 0.23 | % | 608,294 | 0.29 | % | 0.26 | % | 0.26 | % | 2.59 | % | 108.58 | % | ||||||||||||||||||||
Year Ended June 30, 2011 | 12.50 | 27.56 | % | 534,710 | 0.37 | % | 0.31 | % | 0.31 | % | 1.90 | % | 72.04 | % | ||||||||||||||||||||
Year Ended June 30, 2010 | 9.98 | 14.94 | % | 411,468 | 0.38 | % | 0.33 | % | 0.34 | % | 1.88 | % | 77.68 | % | ||||||||||||||||||||
Year Ended June 30, 2009 | 8.84 | (29.60 | )% | 477,437 | 0.41 | % | 0.35 | % | 0.40 | % | 2.69 | % | 139.39 | % | ||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 16.88 | 14.38 | % | $ | 1,752 | 0.58 | % | 0.32 | % | 0.32 | % | 2.07 | % | 21.78 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 14.94 | 25.46 | % | 1,564 | 0.48 | % | 0.27 | % | 0.27 | % | 2.74 | % | 54.28 | % | ||||||||||||||||||||
Year Ended June 30, 2012 | 12.22 | 0.32 | % | 811 | 0.29 | % | 0.26 | % | 0.26 | % | 2.58 | % | 108.58 | % | ||||||||||||||||||||
Period Ended June 30, 2011 (e) | 12.49 | 28.10 | % | 763 | 0.62 | % | 0.31 | % | 0.31 | % | 1.98 | % | 72.04 | % | ||||||||||||||||||||
The Institutional Value Equity Portfolio | ||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 13.94 | 14.36 | % | $ | 983,511 | 0.30 | % | 0.29 | % | 0.29 | % | 2.09 | % | 29.55 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 14.60 | 25.76 | % | 936,866 | 0.28 | % | 0.26 | % | 0.26 | % | 2.76 | % | 51.12 | % | ||||||||||||||||||||
Year Ended June 30, 2012 | 12.55 | 0.78 | % | 958,796 | 0.29 | % | 0.26 | % | 0.26 | % | 2.58 | % | 128.77 | % | ||||||||||||||||||||
Year Ended June 30, 2011 | 12.96 | 28.41 | % | 820,117 | 0.40 | % | 0.35 | % | 0.35 | % | 1.79 | % | 97.05 | % (f) | ||||||||||||||||||||
Year Ended June 30, 2010 | 10.26 | 15.54 | % | 688,971 | 0.42 | % | 0.37 | % | 0.38 | % | 1.60 | % | 107.30 | % | ||||||||||||||||||||
Period Ended June 30, 2009 (g) | 9.02 | (28.85 | )% | 377,956 | 0.41 | % | 0.38 | % | 0.41 | % | 2.96 | % | 129.30 | % | ||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 13.95 | 14.44 | % | $ | 1,728 | 0.55 | % | 0.29 | % | 0.29 | % | 2.10 | % | 29.55 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 14.60 | 25.76 | % | 2,098 | 0.46 | % | 0.26 | % | 0.26 | % | 2.76 | % | 51.12 | % | ||||||||||||||||||||
Year Ended June 30, 2012 | 12.55 | 0.70 | % | 1,658 | 0.29 | % | 0.26 | % | 0.26 | % | 2.58 | % | 128.77 | % | ||||||||||||||||||||
Period Ended June 30, 2011 (e) | 12.97 | 29.14 | % | 1,292 | 0.65 | % | 0.35 | % | 0.35 | % | 1.83 | % | 97.05 | % (f) | ||||||||||||||||||||
The Growth Equity Portfolio | ||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 19.76 | 17.30 | % | $ | 821,751 | 0.27 | % | 0.27 | % | 0.27 | % | 1.14 | % | 8.71 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 16.95 | 15.62 | % | 736,260 | 0.27 | % | 0.27 | % | 0.27 | % | 1.47 | % | 23.37 | % | ||||||||||||||||||||
Year Ended June 30, 2012 | 14.88 | 8.49 | % | 731,586 | 0.31 | % | 0.31 | % | 0.31 | % | 1.11 | % | 64.59 | % | ||||||||||||||||||||
Year Ended June 30, 2011 | 13.87 | 34.56 | % | 735,267 | 0.37 | % | 0.36 | % | 0.37 | % | 0.82 | % | 49.14 | % | ||||||||||||||||||||
Year Ended June 30, 2010 | 10.39 | 11.26 | % | 589,930 | 0.37 | % | 0.37 | % | 0.37 | % | 0.89 | % | 51.80 | % | ||||||||||||||||||||
Year Ended June 30, 2009 | 9.42 | (21.17 | )% | 783,162 | 0.39 | % | 0.38 | % | 0.39 | % | 1.00 | % | 72.93 | % | ||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 19.74 | 17.32 | % | $ | 1,765 | 0.52 | % | 0.27 | % | 0.27 | % | 1.13 | % | 8.71 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 16.93 | 15.64 | % | 1,530 | 0.46 | % | 0.27 | % | 0.27 | % | 1.49 | % | 23.77 | % | ||||||||||||||||||||
Year Ended June 30, 2012 | 14.86 | 8.50 | % | 928 | 0.31 | % | 0.31 | % | 0.31 | % | 1.10 | % | 64.59 | % | ||||||||||||||||||||
Period Ended June 30, 2011 (e) | 13.85 | 34.24 | % | 955 | 0.62 | % | 0.36 | % | 0.37 | % | 0.83 | % | 49.14 | % | ||||||||||||||||||||
The Institutional Growth Equity Portfolio | ||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 15.90 | 16.60 | % | $ | 1,359,067 | 0.28 | % | 0.27 | % | 0.27 | % | 1.21 | % | 16.19 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 15.00 | 17.08 | % | 1,142,874 | 0.26 | % | 0.26 | % | 0.26 | % | 1.53 | % | 39.54 | % | ||||||||||||||||||||
Year Ended June 30, 2012 | 15.02 | 8.20 | % | 1,090,547 | 0.32 | % | 0.32 | % | 0.32 | % | 1.18 | % | 83.80 | % | ||||||||||||||||||||
Year Ended June 30, 2011 | 14.10 | 34.29 | % | 1,072,089 | 0.39 | % | 0.38 | % | 0.37 | % | 0.92 | % | 85.12 | % (f) | ||||||||||||||||||||
Year Ended June 30, 2010 | 10.58 | 12.23 | % | 858,425 | 0.40 | % | 0.40 | % | 0.40 | % | 0.68 | % | 85.24 | % | ||||||||||||||||||||
Period Ended June 30, 2009(h) | 9.50 | (21.82 | )% | 541,074 | 0.40 | % | 0.39 | % | 0.39 | % | 1.36 | % | 66.73 | % | ||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 15.90 | 16.60 | % | $ | 1,855 | 0.53 | % | 0.28 | % | 0.28 | % | 1.21 | % | 16.19 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 15.00 | 17.15 | % | 1,842 | 0.44 | % | 0.26 | % | 0.26 | % | 1.54 | % | 39.54 | % | ||||||||||||||||||||
Year Ended June 30, 2012 | 15.01 | 8.13 | % | 1,828 | 0.32 | % | 0.32 | % | 0.32 | % | 1.19 | % | 83.80 | % | ||||||||||||||||||||
Period Ended June 30, 2011 (e) | 14.10 | 34.16 | % | 1,555 | 0.64 | % | 0.38 | % | 0.37 | % | 0.92 | % | 85.12 | % (f) |
See accompanying notes to financial statements.
183
HC CAPITAL TRUST
Financial Highlights
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting From Operations: | Distributions to Shareholders: | |||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss) | Net Realized/ Unrealized Gains (Losses) on Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Tax Return of capital | Total Distributions to Shareholders | |||||||||||||||||||||||||
The Small Capitalization Equity Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 17.12 | $ | 0.04 | $ | 3.13 | $ | 3.17 | $ | (0.05 | ) | $ | — | $ | — | $ | (0.05 | ) | ||||||||||||||
Year Ended June 30, 2013 | 13.68 | 0.15 | 3.43 | 3.58 | (0.14 | ) | — | — | (0.14 | ) | ||||||||||||||||||||||
Year Ended June 30, 2012 | 14.04 | 0.07 | (0.36 | ) | (0.29 | ) | (0.07 | ) | — | — | (0.07 | ) | ||||||||||||||||||||
Year Ended June 30, 2011 | 10.41 | 0.05 | 3.64 | 3.69 | (0.06 | ) | — | — | (0.06 | ) | ||||||||||||||||||||||
Year Ended June 30, 2010 | 8.94 | 0.04 | 1.47 | 1.51 | (0.04 | ) | — | — | (0.04 | ) | ||||||||||||||||||||||
Year Ended June 30, 2009 | 12.62 | 0.04 | (3.67 | ) | (3.63 | ) | (0.04 | ) | — | (0.01 | ) | (0.05 | ) | |||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 17.10 | $ | 0.04 | $ | 3.13 | $ | 3.17 | $ | (0.05 | ) | $ | — | $ | — | $ | (0.05 | ) | ||||||||||||||
Year Ended June 30, 2013 | 13.66 | 0.14 | 3.44 | 3.58 | (0.14 | ) | — | — | (0.14 | ) | ||||||||||||||||||||||
Year Ended June 30, 2012 | 14.03 | 0.07 | (0.37 | ) | (0.30 | ) | (0.07 | ) | — | — | (0.07 | ) | ||||||||||||||||||||
Period Ended June 30, 2011 (e) | 10.13 | 0.05 | 3.91 | 3.96 | (0.06 | ) | — | — | (0.06 | ) | ||||||||||||||||||||||
The Institutional Small Capitalization Equity Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 | $ | 17.09 | $ | 0.03 | $ | 2.70 | $ | 2.73 | $ | (0.03 | ) | $ | (3.18 | ) | $ | — | $ | (3.21 | ) | |||||||||||||
Year Ended June 30, 2013 | 13.52 | 0.09 | 3.58 | 3.67 | (0.10 | ) | — | — | (0.10 | ) | ||||||||||||||||||||||
Year Ended June 30, 2012 | 13.90 | 0.04 | (0.38 | ) | (0.34 | ) | (0.04 | ) | — | — | (0.04 | ) | ||||||||||||||||||||
Year Ended June 30, 2011 | 10.32 | 0.05 | 3.59 | 3.64 | (0.06 | ) | — | — | (0.06 | ) | ||||||||||||||||||||||
Year Ended June 30, 2010 | 8.88 | 0.05 | 1.43 | 1.48 | (0.04 | ) | — | — | (0.04 | ) | ||||||||||||||||||||||
Period Ended June 30, 2009 (f) | 12.93 | 0.05 | (4.05 | ) | (4.00 | ) | (0.05 | ) | — | — | (j) | (0.05 | ) | |||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 17.09 | $ | 0.03 | $ | 2.70 | $ | 2.73 | $ | (0.03 | ) | $ | (3.18 | ) | $ | — | $ | (3.21 | ) | |||||||||||||
Year Ended June 30, 2013 | 13.52 | 0.09 | 3.58 | 3.67 | (0.10 | ) | — | — | (0.10 | ) | ||||||||||||||||||||||
Year Ended June 30, 2012 | 13.90 | 0.04 | (0.38 | ) | (0.34 | ) | (0.04 | ) | — | — | (0.04 | ) | ||||||||||||||||||||
Period Ended June 30, 2011 (e) | 10.05 | 0.05 | 3.86 | 3.91 | (0.06 | ) | — | — | (0.06 | ) | ||||||||||||||||||||||
The Real Estate Securities Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d)(g) | $ | 2.79 | $ | 0.02 | $ | (0.04 | ) | $ | (0.02 | ) | $ | (0.02 | ) | $ | — | (j) | $ | — | $ | (0.02 | ) | |||||||||||
The Commodity Returns Strategy Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 9.82 | $ | 0.04 | $ | 0.92 | $ | 0.96 | $ | (0.04 | ) | $ | — | $ | — | $ | (0.04 | ) | ||||||||||||||
Year Ended June 30, 2013 (h) | 10.01 | 0.12 | (0.20 | ) | (0.08 | ) | (0.11 | ) | — | — | (0.11 | ) | ||||||||||||||||||||
Year Ended June 30, 2012 (h) | 12.62 | 0.07 | (2.46 | ) | (2.39 | ) | (0.06 | ) | (0.16 | ) | — | (0.22 | ) | |||||||||||||||||||
Year Ended June 30, 2011 (h) | 9.57 | 0.04 | 3.19 | 3.23 | (0.04 | ) | (0.14 | ) | — | (0.18 | ) | |||||||||||||||||||||
Period Ended June 30, 2010 (h)(i) | 10.00 | — | (i) | (0.43 | ) | (0.43 | ) | — | — | — | — | |||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 9.81 | $ | 0.04 | $ | 0.92 | $ | 0.96 | $ | (0.04 | ) | $ | — | $ | — | $ | (0.04 | ) | ||||||||||||||
Year Ended June 30, 2013 (h) | 10.01 | 0.12 | (0.21 | ) | (0.09 | ) | (0.11 | ) | — | — | (0.11 | ) | ||||||||||||||||||||
Year Ended June 30, 2012 (h) | 12.62 | 0.08 | (2.47 | ) | (2.39 | ) | (0.06 | ) | (0.16 | ) | — | (0.22 | ) | |||||||||||||||||||
Period Ended June 30, 2011 (e) (h) | 9.71 | 0.05 | 3.04 | 3.09 | (0.04 | ) | (0.14 | ) | — | (0.18 | ) | |||||||||||||||||||||
The International Equity Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 11.35 | $ | 0.09 | $ | 1.89 | $ | 1.98 | $ | (0.12 | ) | $ | (0.03 | ) | $ | — | $ | (0.15 | ) | |||||||||||||
Year Ended June 30, 2013 | 9.74 | 0.32 | 1.61 | 1.93 | (0.32 | ) | — | — | (0.32 | ) | ||||||||||||||||||||||
Year Ended June 30, 2012 | 10.98 | 0.24 | (1.25 | ) | (1.01 | ) | (0.23 | ) | — | — | (0.23 | ) | ||||||||||||||||||||
Year Ended June 30, 2011 | 8.51 | 0.25 | 2.49 | 2.74 | (0.27 | ) | — | — | (0.27 | ) | ||||||||||||||||||||||
Year Ended June 30, 2010 | 7.92 | 0.17 | 0.58 | 0.75 | (0.16 | ) | — | — | (0.16 | ) | ||||||||||||||||||||||
Year Ended June 30, 2009 | 12.41 | 0.17 | (4.17 | ) | (4.00 | ) | (0.13 | ) | (0.35 | ) | (0.01 | ) | (0.49 | ) | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 11.36 | $ | 0.08 | $ | 1.90 | $ | 1.98 | $ | (0.12 | ) | $ | (0.03 | ) | $ | — | $ | (0.15 | ) | |||||||||||||
Year Ended June 30, 2013 | 9.75 | 0.31 | 1.62 | 1.93 | (0.32 | ) | — | — | (0.32 | ) | ||||||||||||||||||||||
Year Ended June 30, 2012 | 10.99 | 0.24 | (1.25 | ) | (1.01 | ) | (0.23 | ) | — | — | (0.23 | ) | ||||||||||||||||||||
Period Ended June 30, 2011 (e) | 8.74 | 0.23 | 2.29 | 2.52 | (0.27 | ) | — | — | (0.27 | ) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio Turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | Unaudited. |
(e) | For the period July 6, 2010 (commencement of operations) through June 30, 2011. |
(f) | For the period August 15, 2008 (commencement of operations) through June 30, 2009. |
(g) | For the period September 12, 2013 (commencement of operations) through December 31, 2013. |
(h) | Statement has been consolidated. Please see Note 2M in the Notes to Financial Statements for basis of consolidation. |
(i) | For the period June 8, 2010 (commencement of operations) through June 30, 2010. |
(j) | Amount rounds to less than $0.005 per share. |
See accompanying notes to financial statements.
184
Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||||||
Net Asset Value, End of Period | Total Return (a) | Net Assets at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers (b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers (b) | Ratio of Expenses to Average Net Assets, Net of Waivers (b) | Ratio of Net Investment Income (Loss) to Average Net Assets (b) | Portfolio Turnover Rate (a)(c) | |||||||||||||||||||||||||||
The Small Capitalization Equity Portfolio | ||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 20.24 | 18.53 | % | $ | 125,228 | 0.56 | % | 0.56 | % | 0.56 | % | 0.45 | % | 16.14 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 17.12 | 26.34 | % | 112,700 | 0.56 | % | 0.56 | % | 0.56 | % | 0.99 | % | 34.45 | % | ||||||||||||||||||||
Year Ended June 30, 2012 | 13.68 | (2.06 | )% | 125,014 | 0.63 | % | 0.63 | % | 0.63 | % | 0.52 | % | 57.28 | % | ||||||||||||||||||||
Year Ended June 30, 2011 | 14.04 | 35.48 | % | 134,582 | 0.70 | % | 0.70 | % | 0.70 | % | 0.37 | % | 51.76 | % | ||||||||||||||||||||
Year Ended June 30, 2010 | 10.41 | 16.83 | % | 113,749 | 0.74 | % | 0.73 | % | 0.74 | % | 0.37 | % | 101.53 | % | ||||||||||||||||||||
Year Ended June 30, 2009 | 8.94 | (28.72 | )% | 303,317 | 0.75 | % | 0.74 | % | 0.75 | % | 0.45 | % | 99.01 | % | ||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 20.22 | 18.55 | % | $ | 203 | 0.81 | % | 0.56 | % | 0.56 | % | 0.46 | % | 16.14 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 17.10 | 26.38 | % | 191 | 0.75 | % | 0.56 | % | 0.56 | % | 1.04 | % | 34.45 | % | ||||||||||||||||||||
Year Ended June 30, 2012 | 13.66 | (2.13 | )% | 162 | 0.63 | % | 0.63 | % | 0.63 | % | 0.52 | % | 57.28 | % | ||||||||||||||||||||
Period Ended June 30, 2011 (e) | 14.03 | 39.12 | % | 157 | 0.95 | % | 0.70 | % | 0.70 | % | 0.37 | % | 51.76 | % | ||||||||||||||||||||
The Institutional Small Capitalization Equity Portfolio | ||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 | $ | 16.61 | 16.77 | % | $ | 179,479 | 0.67 | % | 0.67 | % | 0.67 | % | 0.35 | % | 30.42 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 17.09 | 27.29 | % | 177,162 | 0.70 | % | 0.69 | % | 0.69 | % | 0.68 | % | 58.43 | % | ||||||||||||||||||||
Year Ended June 30, 2012 | 13.52 | (2.45 | )% | 196,911 | 0.78 | % | 0.76 | % | 0.76 | % | 0.29 | % | 81.04 | % | ||||||||||||||||||||
Year Ended June 30, 2011 | 13.90 | 35.33 | % | 188,534 | 0.71 | % | 0.71 | % | 0.71 | % | 0.42 | % | 100.93 | % | ||||||||||||||||||||
Year Ended June 30, 2010 | 10.32 | 16.65 | % | 161,671 | 0.72 | % | 0.71 | % | 0.72 | % | 0.41 | % | 156.96 | % | ||||||||||||||||||||
Period Ended June 30, 2009 (f) | 8.88 | (31.85 | )% | 200,992 | 0.75 | % | 0.73 | % | 0.74 | % | 0.65 | % | 71.46 | % | ||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 16.61 | 16.77 | % | $ | 202 | 0.92 | % | 0.66 | % | 0.66 | % | 0.37 | % | 30.42 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 17.09 | 27.29 | % | 243 | 0.88 | % | 0.69 | % | 0.69 | % | 0.67 | % | 58.43 | % | ||||||||||||||||||||
Year Ended June 30, 2012 | 13.52 | (2.45 | )% | 276 | 0.78 | % | 0.76 | % | 0.76 | % | 0.29 | % | 81.04 | % | ||||||||||||||||||||
Period Ended June 30, 2011 (e) | 13.90 | 38.97 | % | 228 | 0.96 | % | 0.71 | % | 0.71 | % | 0.44 | % | 100.93 | % | ||||||||||||||||||||
The Real Estate Securities Portfolio | ||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) (g) | $ | 2.75 | 0.51 | % | $ | 172,092 | 0.75 | % | 0.75 | % | 0.75 | % | 2.00 | % | 10.84 | % | ||||||||||||||||||
The Commodity Returns Strategy Portfolio | ||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 10.74 | 9.81 | % | $ | 1,061,088 | 0.64 | % | 0.64 | % | 0.64 | % | 0.76 | % | 22.12 | % | ||||||||||||||||||
Year Ended June 30, 2013 (h) | 9.82 | (0.85 | )% | 906,350 | 0.64 | % | 0.64 | % | 0.64 | % | 1.18 | % | 34.75 | % | ||||||||||||||||||||
Year Ended June 30, 2012 (h) | 10.01 | (18.95 | )% | 686,912 | 0.73 | % | 0.73 | % | 0.73 | % | 0.83 | % | 83.66 | % | ||||||||||||||||||||
Year Ended June 30, 2011 (h) | 12.62 | 33.86 | % | 500,846 | 1.03 | % | 1.03 | % | 1.03 | % | 0.40 | % | 79.60 | % | ||||||||||||||||||||
Period Ended June 30, 2010 (h) (i) | 9.57 | (4.30 | )% | 120,841 | 1.06 | % | 1.06 | % | 1.06 | % | (0.40 | )% | 3.26 | % | ||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 10.73 | 9.82 | % | $ | 1,286 | 0.89 | % | 0.64 | % | 0.64 | % | 0.77 | % | 22.12 | % | ||||||||||||||||||
Year Ended June 30, 2013 (h) | 9.81 | (0.95 | )% | 1,151 | 0.82 | % | 0.64 | % | 0.64 | % | 1.20 | % | 34.75 | % | ||||||||||||||||||||
Year Ended June 30, 2012 (h) | 10.01 | (18.95 | )% | 902 | 0.73 | % | 0.73 | % | 0.73 | % | 0.84 | % | 83.66 | % | ||||||||||||||||||||
Period Ended June 30, 2011 (e) (h) | 12.62 | 31.93 | % | 609 | 1.28 | % | 1.03 | % | 1.03 | % | 0.44 | % | 79.60 | % | ||||||||||||||||||||
The International Equity Portfolio | ||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 13.18 | 17.49 | % | $ | 1,560,411 | 0.45 | % | 0.45 | % | 0.45 | % | 1.31 | % | 20.50 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 11.35 | 19.76 | % | 1,385,888 | 0.41 | % | 0.41 | % | 0.41 | % | 2.91 | % | 46.29 | % | ||||||||||||||||||||
Year Ended June 30, 2012 | 9.74 | (9.13 | )% | 1,190,531 | 0.54 | % | 0.54 | % | 0.54 | % | 2.58 | % | 68.87 | % | ||||||||||||||||||||
Year Ended June 30, 2011 | 10.98 | 32.30 | % | 1,204,581 | 0.57 | % | 0.57 | % | 0.57 | % | 2.42 | % | 49.11 | % | ||||||||||||||||||||
Year Ended June 30, 2010 | 8.51 | 9.39 | % | 926,187 | 0.60 | % | 0.60 | % | 0.60 | % | 1.51 | % | 74.59 | % | ||||||||||||||||||||
Year Ended June 30, 2009 | 7.92 | (31.95 | )% | 1,678,621 | 0.62 | % | 0.61 | % | 0.62 | % | 2.41 | % | 70.27 | % | ||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 13.19 | 17.48 | % | $ | 3,135 | 0.70 | % | 0.45 | % | 0.45 | % | 1.31 | % | 20.50 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 11.36 | 19.74 | % | 2,732 | 0.61 | % | 0.41 | % | 0.41 | % | 3.07 | % | 46.29 | % | ||||||||||||||||||||
Year Ended June 30, 2012 | 9.75 | (9.12 | )% | 1,581 | 0.54 | % | 0.54 | % | 0.54 | % | 2.62 | % | 68.87 | % | ||||||||||||||||||||
Period Ended June 30, 2011 (e) | 10.99 | 28.93 | % | 1,466 | 0.82 | % | 0.57 | % | 0.57 | % | 3.05 | % | 49.11 | % |
See accompanying notes to financial statements.
185
HC CAPITAL TRUST
Financial Highlights (continued)
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting From Operations: | Distributions to Shareholders: | ||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss) | Net Realized/ Unrealized Gains (Losses) on Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Tax Return of Capital | Total Distributions to Shareholders | ||||||||||||||||||||||||||
The Institutional International Equity Portfolio | |||||||||||||||||||||||||||||||||
HC Strategic Shares | |||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 10.87 | $ | 0.08 | $ | 1.79 | $ | 1.87 | $ | (0.12 | ) | $ | (0.46 | ) | $ | — | $ | (0.58 | ) | ||||||||||||||
Year Ended June 30, 2013 | 9.38 | 0.30 | 1.56 | 1.86 | (0.30 | ) | (0.07 | ) | — | (0.37 | ) | ||||||||||||||||||||||
Year Ended June 30, 2012 | 10.97 | 0.22 | (1.29 | ) | (1.07 | ) | (0.21 | ) | (0.31 | ) | — | (0.52 | ) | ||||||||||||||||||||
Year Ended June 30, 2011 | 8.51 | 0.25 | 2.49 | 2.74 | (0.28 | ) | — | — | (0.28 | ) | |||||||||||||||||||||||
Period Ended June 30, 2010 (e) | 9.64 | 0.14 | (1.14 | ) | (1.00 | ) | (0.13 | ) | — | — | (0.13 | ) | |||||||||||||||||||||
HC Advisors Shares | |||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 10.87 | $ | 0.09 | $ | 1.77 | $ | 1.86 | $ | (0.12 | ) | $ | (0.46 | ) | $ | — | $ | (0.58 | ) | ||||||||||||||
Year Ended June 30, 2013 | 9.37 | 0.31 | 1.56 | 1.87 | (0.30 | ) | (0.07 | ) | — | (0.37 | ) | ||||||||||||||||||||||
Year Ended June 30, 2012 | 10.96 | 0.23 | (1.30 | ) | (1.07 | ) | (0.21 | ) | (0.31 | ) | — | (0.52 | ) | ||||||||||||||||||||
Period Ended June 30, 2011 (f) | 8.73 | 0.24 | 2.27 | 2.51 | (0.28 | ) | — | — | (0.28 | ) | |||||||||||||||||||||||
The Emerging Markets Portfolio | |||||||||||||||||||||||||||||||||
HC Strategic Shares | |||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 17.51 | $ | 0.11 | $ | 1.40 | $ | 1.51 | $ | (0.36 | ) | $ | — | $ | — | $ | (0.36 | ) | |||||||||||||||
Year Ended June 30, 2013 | 17.79 | 0.34 | (0.36 | ) | (0.02 | ) | (0.26 | ) | — | — | (0.26 | ) | |||||||||||||||||||||
Year Ended June 30, 2012 | 22.42 | 0.18 | (4.20 | ) | (4.02 | ) | (0.17 | ) | (0.44 | ) | — | (0.61 | ) | ||||||||||||||||||||
Year Ended June 30, 2011 | 17.81 | 0.25 | 4.72 | 4.97 | (0.15 | ) | (0.21 | ) | — | (0.36 | ) | ||||||||||||||||||||||
Period Ended June 30, 2010 (g) | 18.84 | 0.12 | (1.15 | ) | (1.03 | ) | — | (h) | — | — | (h) | — | (h) | ||||||||||||||||||||
HC Advisors Shares | |||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 17.51 | $ | 0.15 | $ | 1.36 | $ | 1.51 | $ | (0.36 | ) | $ | — | $ | — | $ | (0.36 | ) | |||||||||||||||
Year Ended June 30, 2013 | 17.79 | 0.36 | (0.38 | ) | (0.02 | ) | (0.26 | ) | — | — | (0.26 | ) | |||||||||||||||||||||
Year Ended June 30, 2012 | 22.42 | 0.19 | (4.21 | ) | (4.02 | ) | (0.17 | ) | (0.44 | ) | — | (0.61 | ) | ||||||||||||||||||||
Period Ended June 30, 2011 (f) | 18.17 | 0.25 | 4.36 | 4.61 | (0.15 | ) | (0.21 | ) | — | (0.36 | ) | ||||||||||||||||||||||
The Core Fixed Income Portfolio | |||||||||||||||||||||||||||||||||
HC Strategic Shares | |||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 9.73 | $ | 0.11 | $ | (0.06 | ) | $ | 0.05 | $ | (0.13 | ) | $ | (0.05 | ) | $ | — | $ | (0.18 | ) | |||||||||||||
Year Ended June 30, 2013 | 10.27 | 0.21 | (0.30 | ) | (0.09 | ) | (0.26 | ) | (0.19 | ) | — | (0.45 | ) | ||||||||||||||||||||
Year Ended June 30, 2012 | 10.14 | 0.24 | 0.53 | 0.77 | (0.25 | ) | (0.39 | ) | — | (0.64 | ) | ||||||||||||||||||||||
Year Ended June 30, 2011 | 10.25 | 0.19 | 0.15 | 0.34 | (0.25 | ) | (0.20 | ) | — | (0.45 | ) | ||||||||||||||||||||||
Year Ended June 30, 2010 | 9.57 | 0.32 | 0.70 | 1.02 | (0.34 | ) | — | — | (0.34 | ) | |||||||||||||||||||||||
Year Ended June 30, 2009 | 9.78 | 0.46 | (0.17 | ) | 0.29 | (0.50 | ) | — | — | (0.50 | ) | ||||||||||||||||||||||
HC Advisors Shares | |||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 9.73 | $ | 0.10 | $ | (0.05 | ) | $ | 0.05 | $ | (0.13 | ) | $ | (0.05 | ) | $ | — | $ | (0.18 | ) | |||||||||||||
Year Ended June 30, 2013 | 10.26 | 0.21 | (0.29 | ) | (0.08 | ) | (0.26 | ) | (0.19 | ) | — | (0.45 | ) | ||||||||||||||||||||
Year Ended June 30, 2012 | 10.13 | 0.24 | 0.53 | 0.77 | (0.25 | ) | (0.39 | ) | — | (0.64 | ) | ||||||||||||||||||||||
Period Ended June 30, 2011 (f) | 10.27 | 0.24 | 0.07 | 0.31 | (0.25 | ) | (0.20 | ) | — | (0.45 | ) | ||||||||||||||||||||||
The Fixed Income Opportunity Portfolio | |||||||||||||||||||||||||||||||||
HC Strategic Shares | |||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 7.41 | $ | 0.21 | $ | 0.17 | $ | 0.38 | $ | (0.24 | ) | $ | (0.13 | ) | $ | — | $ | (0.37 | ) | ||||||||||||||
Year Ended June 30, 2013 | 7.22 | 0.47 | 0.19 | 0.66 | (0.47 | ) | — | — | (0.47 | ) | |||||||||||||||||||||||
Year Ended June 30, 2012 | 7.39 | 0.52 | (0.16 | ) | 0.36 | (0.53 | ) | — | — | (0.53 | ) | ||||||||||||||||||||||
Year Ended June 30, 2011 | 6.73 | 0.57 | 0.66 | 1.23 | (0.57 | ) | — | — | (0.57 | ) | |||||||||||||||||||||||
Year Ended June 30, 2010 | 6.19 | 0.58 | 0.52 | 1.10 | (0.56 | ) | — | — | (0.56 | ) | |||||||||||||||||||||||
Year Ended June 30, 2009 | 6.92 | 0.49 | (0.73 | ) | (0.24 | ) | (0.49 | ) | — | — | (0.49 | ) | |||||||||||||||||||||
HC Advisors Shares | |||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 7.40 | $ | 0.21 | $ | 0.18 | $ | 0.39 | $ | (0.24 | ) | $ | (0.13 | ) | $ | — | $ | (0.37 | ) | ||||||||||||||
Year Ended June 30, 2013 | 7.22 | 0.47 | 0.18 | 0.65 | (0.47 | ) | — | — | (0.47 | ) | |||||||||||||||||||||||
Year Ended June 30, 2012 | 7.39 | 0.53 | (0.17 | ) | 0.36 | (0.53 | ) | — | — | (0.53 | ) | ||||||||||||||||||||||
Period Ended June 30, 2011 (f) | 6.74 | 0.53 | 0.69 | 1.22 | (0.57 | ) | — | — | (0.57 | ) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio Turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | Unaudited. |
(e) | For the period November 20, 2009 (commencement of operations) through June 30, 2010. |
(f) | For the period July 6, 2010 (commencement of operations) through June 30, 2011. |
(g) | For the period December 10, 2009 (commencement of operations) through June 30, 2010. |
(h) | Amount rounds to less than $0.005 per share. |
(i) | Portfolio Turnover does not include TBA security transactions. |
See accompanying notes to financial statements.
186
Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||||
Net Asset Value, End of Period | Total Return (a) | Net Assets at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers (b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers (b) | Ratio of Expenses to Average Net Assets, Net of Waivers (b) | Ratio of Net Investment Income (Loss) to Average Net Assets (b) | Portfolio Turnover Rate (a)(c) | |||||||||||||||||||||||||
The Institutional International Equity Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 12.16 | 17.44 | % | $ | 2,852,964 | 0.43 | % | 0.43 | % | 0.43 | % | 1.39 | % | 26.42 | % | ||||||||||||||||
Year Ended June 30, 2013 | 10.87 | 19.86 | % | 2,431,816 | 0.42 | % | 0.42 | % | 0.42 | % | 2.93 | % | 47.87 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 9.38 | (9.40 | )% | 1,990,173 | 0.55 | % | 0.55 | % | 0.55 | % | 2.59 | % | 68.64 | % | ||||||||||||||||||
Year Ended June 30, 2011 | 10.97 | 32.24 | % | 1,753,957 | 0.58 | % | 0.58 | % | 0.58 | % | 2.30 | % | 54.67 | % | ||||||||||||||||||
Period Ended June 30, 2010 (e) | 8.51 | (10.46 | )% | 1,417,353 | 0.60 | % | 0.59 | % | 0.60 | % | 2.48 | % | 24.84 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 12.15 | 17.34 | % | $ | 3,631 | 0.68 | % | 0.43 | % | 0.43 | % | 1.40 | % | 26.42 | % | ||||||||||||||||
Year Ended June 30, 2013 | 10.87 | 19.99 | % | 3,385 | 0.63 | % | 0.42 | % | 0.42 | % | 2.89 | % | 47.87 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 9.37 | (9.41 | )% | 3,148 | 0.55 | % | 0.55 | % | 0.55 | % | 2.68 | % | 68.64 | % | ||||||||||||||||||
Period Ended June 30, 2011 (f) | 10.96 | 28.79 | % | 2,399 | 0.83 | % | 0.58 | % | 0.58 | % | 2.53 | % | 54.67 | % | ||||||||||||||||||
The Emerging Markets Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 18.66 | 8.62 | % | $ | 1,364,121 | 0.80 | % | 0.80 | % | 0.80 | % | 1.67 | % | 19.07 | % | ||||||||||||||||
Year Ended June 30, 2013 | 17.51 | (0.28 | )% | 1,079,208 | 0.77 | % | 0.77 | % | 0.77 | % | 2.27 | % | 63.21 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 17.79 | (17.81 | )% | 719,013 | 0.98 | % | 0.98 | % | 0.98 | % | 1.68 | % | 52.27 | % | ||||||||||||||||||
Year Ended June 30, 2011 | 22.42 | 28.05 | % | 510,732 | 1.00 | % | 1.00 | % | 1.00 | % | 1.21 | % | 61.56 | % | ||||||||||||||||||
Period Ended June 30, 2010 (g) | 17.81 | (5.45 | )% | 345,184 | 1.04 | % | 1.04 | % | 1.04 | % | 1.32 | % | 44.29 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 18.66 | 8.62 | % | $ | 2,019 | 1.06 | % | 0.80 | % | 0.80 | % | 1.75 | % | 19.07 | % | ||||||||||||||||
Year Ended June 30, 2013 | 17.51 | (0.28 | )% | 1,778 | 0.95 | % | 0.77 | % | 0.77 | % | 2.24 | % | 63.21 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 17.79 | (17.81 | )% | 1,350 | 0.98 | % | 0.98 | % | 0.98 | % | 1.68 | % | 52.27 | % | ||||||||||||||||||
Period Ended June 30, 2011 (f) | 22.42 | 25.44 | % | 966 | 1.25 | % | 1.00 | % | 1.00 | % | 1.28 | % | 61.56 | % | ||||||||||||||||||
The Core Fixed Income Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 9.60 | 0.49 | % | $ | 95,604 | 0.28 | % | 0.28 | % | 0.28 | % | 2.20 | % | 32.23 | %(i) | ||||||||||||||||
Year Ended June 30, 2013 | 9.73 | (1.02 | )% | 93,015 | 0.27 | % | 0.26 | % | 0.26 | % | 2.09 | % | 53.26 | %(i) | ||||||||||||||||||
Year Ended June 30, 2012 | 10.27 | 7.75 | % | 94,895 | 0.30 | % | 0.30 | % | 0.30 | % | 2.34 | % | 64.20 | %(i) | ||||||||||||||||||
Year Ended June 30, 2011 | 10.14 | 3.36 | % | 103,528 | 0.33 | % | 0.33 | % | 0.33 | % | 2.30 | % | 684.04 | %(i) | ||||||||||||||||||
Year Ended June 30, 2010 | 10.25 | 10.78 | % | 356,056 | 0.34 | % | 0.34 | % | 0.34 | % | 3.23 | % | 511.41 | %(i) | ||||||||||||||||||
Year Ended June 30, 2009 | 9.57 | 3.19 | % | 299,234 | 0.38 | % | 0.38 | % | 0.38 | % | 4.88 | % | 221.65 | %(i) | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2013 (d) | $ | 9.60 | 0.49 | % | $ | 2,573 | 0.53 | % | 0.28 | % | 0.28 | % | 2.21 | % | 32.23 | %(i) | ||||||||||||||||
Year Ended June 30, 2013 | 9.73 | (0.92 | )% | 2,341 | 0.45 | % | 0.26 | % | 0.26 | % | 2.08 | % | 53.26 | %(i) | ||||||||||||||||||
Year Ended June 30, 2012 | 10.26 | 7.76 | % | 2,232 | 0.30 | % | 0.30 | % | 0.30 | % | 2.36 | % | 64.20 | %(i) | ||||||||||||||||||
Period Ended June 30, 2011 (f) | 10.13 | 3.05 | % | 2,659 | 0.58 | % | 0.33 | % | 0.33 | % | 2.26 | % | 684.04 | %(i) | ||||||||||||||||||
The Fixed Income Opportunity Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 7.42 | 5.15 | % | $ | 908,964 | 0.29 | % | 0.28 | % | 0.28 | % | 5.73 | % | 56.36 | % | ||||||||||||||||
Year Ended June 30, 2013 | 7.41 | 9.17 | % | 752,140 | 0.43 | % | 0.43 | % | 0.43 | % | 6.33 | % | 74.84 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 7.22 | 5.27 | % | 585,953 | 0.53 | % | 0.53 | % | 0.53 | % | 7.30 | % | 104.25 | % | ||||||||||||||||||
Year Ended June 30, 2011 | 7.39 | 18.78 | % | 452,436 | 0.54 | % | 0.54 | % | 0.54 | % | 7.84 | % | 157.18 | % | ||||||||||||||||||
Year Ended June 30, 2010 | 6.73 | 18.19 | % | 378,847 | 0.56 | % | 0.56 | % | 0.56 | % | 8.57 | % | 126.93 | % | ||||||||||||||||||
Year Ended June 30, 2009 | 6.19 | (2.79 | )% | 283,894 | 0.60 | % | 0.60 | % | 0.60 | % | 8.72 | % | 100.90 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 7.42 | 5.29 | % | $ | 1,013 | 0.53 | % | 0.28 | % | 0.28 | % | 5.73 | % | 56.36 | % | ||||||||||||||||
Year Ended June 30, 2013 | 7.40 | 9.03 | % | 914 | 0.64 | % | 0.43 | % | 0.43 | % | 6.33 | % | 74.84 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 7.22 | 5.27 | % | 753 | 0.53 | % | 0.53 | % | 0.53 | % | 7.33 | % | 104.25 | % | ||||||||||||||||||
Period Ended June 30, 2011 (f) | 7.39 | 18.61 | % | 824 | 0.79 | % | 0.54 | % | 0.54 | % | 7.80 | % | 157.18 | % |
See accompanying notes to financial statements.
187
HC CAPITAL TRUST
Financial Highlights (concluded)
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting From Operations: | Distributions to Shareholders: | |||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income (Loss) | Net Realized/ Unrealized Gains (Losses) on Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Total Distributions to Shareholders | ||||||||||||||||||||||
The U.S. Government Fixed Income Securities Portfolio | ||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 9.91 | $ | 0.07 | $ | (0.12 | ) | $ | (0.05 | ) | $ | (0.07 | ) | $ | (0.03 | ) | $ | (0.10 | ) | |||||||||
Year Ended June 30, 2013 | 10.48 | 0.12 | (0.30 | ) | (0.18 | ) | (0.12 | ) | (0.27 | ) | (0.39 | ) | ||||||||||||||||
Year Ended June 30, 2012 | 10.01 | 0.15 | 0.66 | 0.81 | (0.15 | ) | (0.19 | ) | (0.34 | ) | ||||||||||||||||||
Period Ended June 30, 2011 (e) | 10.00 | 0.07 | 0.01 | 0.08 | (0.07 | ) | — | (0.07 | ) | |||||||||||||||||||
The U.S. Corporate Fixed Income Securities Portfolio | ||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 9.97 | $ | 0.17 | $ | (0.01 | ) | $ | 0.16 | $ | (0.18 | ) | $ | (0.16 | ) | $ | (0.34 | ) | ||||||||||
Year Ended June 30, 2013 | 10.59 | 0.35 | (0.35 | ) | — | (f) | (0.34 | ) | (0.28 | ) | (0.62 | ) | ||||||||||||||||
Year Ended June 30, 2012 | 9.96 | 0.26 | 0.81 | 1.07 | (0.35 | ) | (0.09 | ) | (0.44 | ) | ||||||||||||||||||
Period Ended June 30, 2011 (e) | 10.00 | 0.18 | (0.04 | ) | 0.14 | (0.18 | ) | — | (0.18 | ) | ||||||||||||||||||
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | ||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 9.78 | $ | 0.10 | $ | (0.07 | ) | $ | 0.03 | $ | (0.16 | ) | $ | — | $ | (0.16 | ) | |||||||||||
Year Ended June 30, 2013 | 10.22 | 0.20 | (0.30 | ) | (0.10 | ) | (0.34 | ) | — | (0.34 | ) | |||||||||||||||||
Year Ended June 30, 2012 | 10.13 | 0.25 | 0.24 | 0.49 | (0.36 | ) | (0.04 | ) | (0.40 | ) | ||||||||||||||||||
Period Ended June 30, 2011 (e) | 10.00 | 0.10 | 0.13 | 0.23 | (0.10 | ) | — | (0.10 | ) | |||||||||||||||||||
The Short-Term Municipal Bond Portfolio | ||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 10.05 | $ | 0.06 | $ | 0.02 | $ | 0.08 | $ | (0.07 | ) | (0.02 | ) | $ | (0.09 | ) | ||||||||||||
Year Ended June 30, 2013 | 10.26 | 0.13 | (0.11 | ) | 0.02 | (0.13 | ) | (0.10 | ) | (0.23 | ) | |||||||||||||||||
Year Ended June 30, 2012 | 10.24 | 0.20 | 0.04 | 0.24 | (0.20 | ) | (0.02 | ) | (0.22 | ) | ||||||||||||||||||
Year Ended June 30, 2011 | 10.28 | 0.22 | (0.03 | ) | 0.19 | (0.22 | ) | (0.01 | ) | (0.23 | ) | |||||||||||||||||
Year Ended June 30, 2010 | 10.23 | 0.27 | 0.07 | 0.34 | (0.26 | ) | (0.03 | ) | (0.29 | ) | ||||||||||||||||||
Year Ended June 30, 2009 | 10.04 | 0.31 | 0.20 | 0.51 | (0.31 | ) | (0.01 | ) | (0.32 | ) | ||||||||||||||||||
The Intermediate Term Municipal Bond Portfolio | ||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 9.96 | $ | 0.13 | $ | (0.01 | ) | $ | 0.12 | $ | (0.14 | ) | $ | — | $ | (0.14 | ) | |||||||||||
Year Ended June 30, 2013 | 10.10 | 0.28 | (0.14 | ) | 0.14 | (0.28 | ) | — | (0.28 | ) | ||||||||||||||||||
Year Ended June 30, 2012 | 9.64 | 0.33 | 0.46 | 0.79 | (0.33 | ) | — | (0.33 | ) | |||||||||||||||||||
Year Ended June 30, 2011 | 9.59 | 0.34 | 0.05 | 0.39 | (0.34 | ) | — | (0.34 | ) | |||||||||||||||||||
Year Ended June 30, 2010 | 9.17 | 0.36 | 0.42 | 0.78 | (0.36 | ) | — | (0.36 | ) | |||||||||||||||||||
Year Ended June 30, 2009 | 9.58 | 0.40 | (0.41 | ) | (0.01 | ) | (0.40 | ) | — | (0.40 | ) | |||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 9.96 | $ | 0.13 | $ | (0.01 | ) | $ | 0.12 | $ | (0.14 | ) | $ | — | $ | (0.14 | ) | |||||||||||
Year Ended June 30, 2013 | 10.10 | 0.26 | (0.12 | ) | 0.14 | (0.28 | ) | — | (0.28 | ) | ||||||||||||||||||
Year Ended June 30, 2012 | 9.64 | 0.33 | 0.46 | 0.79 | (0.33 | ) | — | (0.33 | ) | |||||||||||||||||||
Period Ended June 30, 2011 (h) | 9.61 | 0.32 | 0.05 | 0.37 | (0.34 | ) | — | (0.34 | ) | |||||||||||||||||||
The Intermediate Term Municipal Bond II Portfolio | ||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 10.28 | $ | 0.11 | $ | (0.01 | ) | $ | 0.10 | $ | (0.12 | ) | $ | (0.03 | ) | $ | (0.15 | ) | ||||||||||
Year Ended June 30, 2013 | 10.56 | 0.22 | (0.25 | ) | (0.03 | ) | (0.22 | ) | (0.03 | ) | (0.25 | ) | ||||||||||||||||
Year Ended June 30, 2012 | 10.10 | 0.23 | 0.47 | 0.70 | (0.23 | ) | (0.01 | ) | (0.24 | ) | ||||||||||||||||||
Period Ended June 30, 2011 (i) | 10.00 | 0.17 | 0.10 | 0.27 | (0.17 | ) | — | (0.17 | ) | |||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 10.29 | $ | 0.11 | $ | (0.02 | ) | $ | 0.09 | $ | (0.12 | ) | $ | (0.03 | ) | $ | (0.15 | ) | ||||||||||
Year Ended June 30, 2013 | 10.56 | 0.22 | (0.24 | ) | (0.02 | ) | (0.22 | ) | (0.03 | ) | (0.25 | ) | ||||||||||||||||
Year Ended June 30, 2012 | 10.10 | 0.23 | 0.47 | 0.70 | (0.23 | ) | (0.01 | ) | (0.24 | ) | ||||||||||||||||||
Period Ended June 30, 2011 (i) | 10.11 | 0.14 | (0.01 | ) | 0.13 | (0.14 | ) | — | (0.14 | ) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio Turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | Unaudited. |
(e) | For the period December 6, 2010 (commencement of operations) through June 30, 2011. |
(f) | Amount rounds to less than $0.005 per share. |
(g) | Portfolio Turnover does not include TBA security transactions. |
(h) | For the period July 6, 2010 (commencement of operations) through June 30, 2011. |
(i) | For the period July 13, 2010 (commencement of operations) through June 30, 2011. |
See accompanying notes to financial statements.
188
Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||||
Net Asset Value, End of Period | Total Return(a) | Net Assets at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Waivers(b) | Ratio of Net Investment Income (Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) | |||||||||||||||||||||||||
The U.S. Government Fixed Income Securities Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 9.76 | (0.55 | )% | $ | 251,539 | 0.18 | % | 0.18 | % | 0.18 | % | 1.25 | % | 20.70 | % | ||||||||||||||||
Year Ended June 30, 2013 | 9.91 | (1.75 | )% | 265,390 | 0.18 | % | 0.18 | % | 0.18 | % | 1.21 | % | 41.62 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 10.48 | 8.10 | % | 250,150 | 0.25 | % | 0.25 | % | 0.25 | % | 1.40 | % | 89.01 | % | ||||||||||||||||||
Period Ended June 30, 2011 (e) | 10.01 | 0.85 | % | 291,810 | 0.26 | % | 0.26 | % | 0.26 | % | 1.43 | % | 73.52 | % | ||||||||||||||||||
The U.S. Corporate Fixed Income Securities Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 9.79 | 1.60 | % | $ | 225,776 | 0.33 | % | 0.33 | % | 0.33 | % | 3.36 | % | 58.49 | % | ||||||||||||||||
Year Ended June 30, 2013 | 9.97 | (0.24 | )% | 220,054 | 0.33 | % | 0.33 | % | 0.33 | % | 3.26 | % | 52.16 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 10.59 | 10.87 | % | 207,893 | 0.35 | % | 0.35 | % | 0.35 | % | 3.33 | % | 56.04 | % | ||||||||||||||||||
Period Ended June 30, 2011 (e) | 9.96 | 1.44 | % | 233,801 | 0.36 | % | 0.36 | % | 0.36 | % | 3.48 | % | 127.65 | % | ||||||||||||||||||
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 9.65 | 0.29 | % | $ | 252,976 | 0.18 | % | 0.18 | % | 0.18 | % | 1.92 | % | 15.93 | %(g) | ||||||||||||||||
Year Ended June 30, 2013 | 9.78 | (1.05 | )% | 253,548 | 0.23 | % | 0.23 | % | 0.23 | % | 1.84 | % | 34.20 | %(g) | ||||||||||||||||||
Year Ended June 30, 2012 | 10.22 | 4.95 | % | 237,857 | 0.30 | % | 0.30 | % | 0.30 | % | 2.49 | % | 28.67 | %(g) | ||||||||||||||||||
Period Ended June 30, 2011 (e) | 10.13 | 2.33 | % | 278,160 | 0.31 | % | 0.31 | % | 0.31 | % | 1.60 | % | 10.64 | %(g) | ||||||||||||||||||
The Short-Term Municipal Bond Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 10.04 | 0.76 | % | $ | 22,730 | 0.25 | % | 0.25 | % | 0.25 | % | 1.21 | % | 4.37 | % | ||||||||||||||||
Year Ended June 30, 2013 | 10.05 | 0.21 | % | 22,608 | 0.27 | % | 0.27 | % | 0.27 | % | 1.27 | % | 5.92 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 10.26 | 2.33 | % | 25,718 | 0.27 | % | 0.27 | % | 0.27 | % | 1.88 | % | 22.24 | % | ||||||||||||||||||
Year Ended June 30, 2011 | 10.24 | 1.92 | % | 32,518 | 0.28 | % | 0.28 | % | 0.28 | % | 2.17 | % | 19.68 | % | ||||||||||||||||||
Year Ended June 30, 2010 | 10.28 | 3.39 | % | 37,806 | 0.29 | % | 0.29 | % | 0.29 | % | 2.59 | % | 25.70 | % | ||||||||||||||||||
Year Ended June 30, 2009 | 10.23 | 5.16 | % | 29,490 | 0.31 | % | 0.30 | % | 0.30 | % | 3.05 | % | 18.99 | % | ||||||||||||||||||
The Intermediate Term Municipal Bond Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 9.94 | 1.22 | % | $ | 412,295 | 0.28 | % | 0.28 | % | 0.28 | % | 2.63 | % | 17.61 | % | ||||||||||||||||
Year Ended June 30, 2013 | 9.96 | 1.39 | % | 419,846 | 0.29 | % | 0.29 | % | 0.29 | % | 2.74 | % | 59.43 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 10.10 | 8.29 | % | 442,365 | 0.31 | % | 0.31 | % | 0.31 | % | 3.24 | % | 16.99 | % | ||||||||||||||||||
Year Ended June 30, 2011 | 9.64 | 4.13 | % | 493,229 | 0.33 | % | 0.33 | % | 0.33 | % | 3.48 | % | 21.78 | % | ||||||||||||||||||
Year Ended June 30, 2010 | 9.59 | 8.57 | % | 579,760 | 0.34 | % | 0.34 | % | 0.34 | % | 3.78 | % | 36.62 | % | ||||||||||||||||||
Year Ended June 30, 2009 | 9.17 | (0.07 | )% | 489,168 | 0.35 | % | 0.35 | % | 0.35 | % | 4.26 | % | 23.80 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 9.94 | 1.22 | % | $ | 2,042 | 0.53 | % | 0.28 | % | 0.28 | % | 2.62 | % | 17.61 | % | ||||||||||||||||
Year Ended June 30, 2013 | 9.96 | 1.39 | % | 1,840 | 0.48 | % | 0.29 | % | 0.29 | % | 2.70 | % | 59.43 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 10.10 | 8.29 | % | 1,056 | 0.31 | % | 0.31 | % | 0.31 | % | 3.24 | % | 16.99 | % | ||||||||||||||||||
Period Ended June 30, 2011 (h) | 9.64 | 3.92 | % | 1,211 | 0.58 | % | 0.33 | % | 0.33 | % | 3.50 | % | 21.78 | % | ||||||||||||||||||
The Intermediate Term Municipal Bond II Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 10.23 | 0.99 | % | $ | 73,768 | 0.25 | % | 0.25 | % | 0.25 | % | 2.23 | % | 5.16 | % | ||||||||||||||||
Year Ended June 30, 2013 | 10.28 | (0.37 | )% | 73,472 | 0.25 | % | 0.25 | % | 0.25 | % | 2.06 | % | 3.76 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 10.56 | 6.97 | % | 72,377 | 0.25 | % | 0.25 | % | 0.25 | % | 2.17 | % | 12.31 | % | ||||||||||||||||||
Period Ended June 30, 2011 (i) | 10.10 | 2.72 | % | 72,294 | 0.32 | % | 0.32 | % | 0.32 | % | 1.86 | % | 2.81 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 (d) | $ | 10.23 | 0.89 | % | $ | 513 | 0.50 | % | 0.25 | % | 0.25 | % | 2.23 | % | 5.16 | % | ||||||||||||||||
Year Ended June 30, 2013 | 10.29 | (0.27 | )% | 463 | 0.44 | % | 0.25 | % | 0.25 | % | 2.06 | % | 3.76 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 10.56 | 6.97 | % | 277 | 0.25 | % | 0.25 | % | 0.25 | % | 2.24 | % | 12.31 | % | ||||||||||||||||||
Period Ended June 30, 2011 (i) | 10.10 | 1.54 | % | 303 | 0.57 | % | 0.32 | % | 0.32 | % | 1.99 | % | 2.81 | % |
See accompanying notes to financial statements.
189
HC CAPITAL TRUST
Notes to Financial Statements — December 31, 2013 (Unaudited)
1. DESCRIPTION. HC Capital Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management series investment company. The Trust is a Delaware statutory trust which was organized on December 15, 1994. As of December 31, 2013, the Trust offered nineteen separate investment portfolios: The Value Equity Portfolio (“Value Portfolio”), The Institutional Value Equity Portfolio (“Institutional Value Portfolio”), The Growth Equity Portfolio (“Growth Portfolio”), The Institutional Growth Equity Portfolio (“Institutional Growth Portfolio”), The Small Capitalization–Mid Capitalization Equity Portfolio (“Small Cap–Mid Cap Portfolio”) (formerly “The Small Capitalization Equity Portfolio”), The Institutional Small Capitalization–Mid Capitalization Equity Portfolio (“Institutional Small Cap–Mid Cap Portfolio”) (formerly “The Institutional Small Capitalization Equity Portfolio”), The Real Estate Securities Portfolio (“Real Estate Portfolio”), The Commodity Returns Strategy Portfolio (“Commodity Portfolio”), The International Equity Portfolio (“International Portfolio”), The Institutional International Equity Portfolio (“Institutional International Portfolio”), The Emerging Markets Portfolio (“Emerging Markets Portfolio”), The Core Fixed Income Portfolio (“Core Fixed Income Portfolio”), The Fixed Income Opportunity Portfolio (“Fixed Opportunity Portfolio”), The U.S. Government Fixed Income Securities Portfolio (“U.S. Government Fixed Income Portfolio”), The U.S. Corporate Fixed Income Securities Portfolio (“U.S. Corporate Fixed Income Portfolio”), The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio (“U.S. Mortgage/Asset Backed Fixed Income Portfolio”), The Short-Term Municipal Bond Portfolio (“Short-Term Municipal Portfolio”), The Intermediate Term Municipal Bond Portfolio (“Intermediate Municipal Portfolio”) and The Intermediate Term Municipal Bond II Portfolio (“Intermediate Municipal II Portfolio”) (each a “Portfolio” and collectively the “Portfolios”).
Each Portfolio is authorized to issue an unlimited number of shares of beneficial interest with a par value of $0.001 each in two classes of shares: HC Advisors Shares and HC Strategic Shares. As of December 31, 2013, the HC Advisors Shares for U.S. Government Fixed Income Portfolio, U.S. Corporate Fixed Income Portfolio, U.S. Mortgage/Asset Backed Fixed Income Portfolio and Short-Term Municipal Portfolio had not yet commenced operations. Each class of shares for each of the Portfolios has identical rights and privileges except with respect to voting rights on matters affecting a single class of shares. The Trust’s investment adviser is HC Capital Solutions (the “Adviser”), an operating division of Hirtle Callaghan & Co., LLC.
All the Portfolios in the Trust, except the Real Estate Portfolio are diversified portfolios under the 1940 Act. The Real Estate Portfolio is a non-diversified portfolio, which means that it may concentrate its investments in the securities of a limited number of issuers.
As is customary, the Trust’s organizational documents permit the Trust to indemnify its officers and trustees against certain liabilities under certain circumstances. In addition, in the normal course of business, the Trust enters into contracts with its vendors and others that also permit the indemnification of parties to the contract under certain circumstances. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust.
2. SIGNIFICANT ACCOUNTING POLICIES. The following is a summary of the significant accounting policies followed by the Portfolios in the preparation of their financial statements. The policies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The presentation of the Portfolios’ financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses for the period. Actual results could differ from those estimates.
A. Portfolio Valuation. The net asset value (“NAV”) per share of each Portfolio is determined at the close of regular trading on the New York Stock Exchange (“NYSE”), normally at 4:00 p.m. Eastern time, on days the NYSE is open. Each class’s NAV per share is calculated by adding the market value or fair value, as applicable, of all securities and other assets of the Portfolio, subtracting its liabilities and dividing the result by the number of its outstanding shares.
190
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
B. Securities Valuation. Security values are ordinarily obtained through the use of independent pricing services in accordance with procedures adopted by the Trust’s Board of Trustees (the “Board”). Pursuant to such procedures, the Portfolios may use a pricing service, bank, or broker-dealer experienced in such matters to value the Portfolio’s securities. When reliable market quotations are not readily available for any security, the fair value of that security will be determined by a committee established by the Board in accordance with procedures adopted by the Board. The fair valuation process is designed to value the subject security at the price the Portfolio would reasonably expect to receive upon its current sale. Additional consideration is given to securities that have experienced a decrease in the volume or level of activity or to circumstances that indicate that a transaction is not orderly.
For disclosure purposes, the Trust has a three-tier fair value hierarchy that is dependent upon the various “inputs” used to determine the value of the Portfolios’ investments. These inputs are summarized in the three broad levels listed below:
• | Level 1 — quoted prices in active markets for identical assets |
• | Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 — significant unobservable inputs (including a Portfolio’s own assumptions in determining the fair value of investments) |
The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities.
Equity Securities (Common and Preferred Stock and Exchange-Traded Funds): Readily marketable portfolio securities listed on a national securities exchange or on NASDAQ are valued at the closing price on the exchange or at the NASDAQ Official Closing Price. If there have been no sales on such exchange, or on NASDAQ, the securities are valued at the closing bid price. In each of these situations, valuations are typically categorized as Level 1 in the fair value hierarchy. Readily marketable securities traded only in the over-the-counter market and not on NASDAQ are valued at the closing price and are typically categorized as Level 1 in the fair value hierarchy, or, if there have been no sales, are valued at the mean of the last reported bid and asked prices and are typically categorized as Level 2 in the fair value hierarchy.
Securities listed on a foreign exchange are valued at the closing price on that exchange provided that where the prices of such securities are denominated in foreign currencies, such prices are converted into U.S. dollars at the bid price of such currencies against U.S. dollars at the time of the NAV calculation. If there have been no sales on such exchange, the security is valued at the closing bid price. In each of these situations, valuations are typically categorized as Level 1 in the fair value hierarchy. Fair value pricing may be used if events materially affecting the value of foreign securities occur between the time when the exchange on which they are traded closes and the time when the NAV is calculated. Such securities may be valued at fair value in accordance with procedures adopted by the Board. Management identifies possible fluctuations in international securities by monitoring the increase or decrease in the value of a designated benchmark index. In the event of an increase or decrease greater than predetermined levels, a Portfolio may use a systematic valuation model provided by an independent third party to fair value its international securities. Such systematic valuations are typically categorized as Level 2 in the fair value hierarchy.
Mutual Funds: Mutual funds are valued at their respective daily net asset value and are typically categorized as Level 1 in the fair value hierarchy.
191
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
Fixed Income Securities (Corporate, Municipal and Foreign Bonds, and U.S. Government and Agency Securities): Fixed income securities are valued using various inputs including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, and industry and market events, and are typically categorized as Level 2 in the fair value hierarchy.
Asset Backed and Mortgage Backed Securities: In addition to the inputs discussed above for fixed income securities, asset backed and mortgage backed securities are valued using new issue data, monthly payment information and collateral performance and are typically categorized as Level 2 in the fair value hierarchy.
Short-Term Obligations: Short-term obligations with maturities of 60 days or less may also be valued at amortized cost, which constitutes fair value as determined by the Board. Such securities are typically categorized as Level 2 in the fair value hierarchy.
Derivative Instruments (Futures, Options, Swaps and Forward Currency Contracts): Swaps are valued using interdealer broker rates, benchmark yields, and swap details and are typically categorized as Level 2 in the fair value hierarchy. Exchange traded futures, swaps and options are valued using quoted prices from the exchange and are typically categorized as Level 1 in the fair value hierarchy. Interest rate swaptions are valued using future interest rate volatility, yield curve, and strike price and are typically categorized as Level 2 in the fair value hierarchy. Forward currency contracts are valued using market quotes posted by major currency dealers and are typically categorized as Level 2 in the fair value hierarchy.
The following is a summary of the inputs used to value the following Portfolios’ securities as of December 31, 2013 (amounts in thousands):
Portfolio | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
Value Portfolio | ||||||||||||||||
Common Stocks1 | $ | 572,822 | $ | — | $ | — | $ | 572,822 | ||||||||
Time Deposit | — | 3,434 | — | 3,434 | ||||||||||||
Mutual Fund | 59,990 | — | — | 59,990 | ||||||||||||
Total Investments | $ | 632,812 | $ | 3,434 | $ | — | $ | 636,246 | ||||||||
Institutional Value Portfolio | ||||||||||||||||
Common Stocks1 | $ | 877,144 | $ | — | $ | — | $ | 877,144 | ||||||||
Time Deposit | — | 15,852 | — | 15,852 | ||||||||||||
Mutual Fund | 84,486 | — | — | 84,486 | ||||||||||||
Total Investments | $ | 961,630 | $ | 15,852 | $ | — | $ | 977,482 | ||||||||
Growth Portfolio | ||||||||||||||||
Common Stocks1 | $ | 746,765 | $ | — | $ | — | $ | 746,765 | ||||||||
Time Deposit | — | 7,821 | — | 7,821 | ||||||||||||
Mutual Funds | 70,739 | — | — | 70,739 | ||||||||||||
Total Investments | $ | 817,504 | $ | 7,821 | $ | — | $ | 825,325 |
192
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Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
Portfolio | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
Institutional Growth Portfolio | ||||||||||||||||
Common Stocks1 | $ | 1,080,628 | $ | — | $ | — | $ | 1,080,628 | ||||||||
Corporate Bonds1 | — | 5,992 | — | 5,992 | ||||||||||||
Asset Backed Securities | — | 1,336 | — | 1,336 | ||||||||||||
Collateralized Mortgage Obligations | — | 21,191 | — | 21,191 | ||||||||||||
Certificate of Deposit | — | 3,695 | — | 3,695 | ||||||||||||
Global Bonds2 | — | 8,878 | — | 8,878 | ||||||||||||
Municipal Bonds3 | — | 926 | — | 926 | ||||||||||||
U.S. Government Agency Securities | — | 20,800 | — | 20,800 | ||||||||||||
U.S. Government Agency Mortgages | — | 7,750 | — | 7,750 | ||||||||||||
U.S. Treasury Obligations | — | 72,239 | — | 72,239 | ||||||||||||
Yankee Dollars1 | — | 6,339 | — | 6,339 | ||||||||||||
Time Deposit | — | 12,076 | — | 12,076 | ||||||||||||
Mutual Funds | 115,095 | — | — | 115,095 | ||||||||||||
Call Option | — | 1 | — | 1 | ||||||||||||
Put Option | — | 2 | — | 2 | ||||||||||||
Repurchase Agreement | — | 4,200 | — | 4,200 | ||||||||||||
Total Investments | $ | 1,195,723 | $ | 165,425 | $ | — | $ | 1,361,148 | ||||||||
Other Financial Instruments5 | ||||||||||||||||
Futures | $ | 5,046 | $ | — | $ | — | $ | 5,046 | ||||||||
Currency Contracts | — | (13 | ) | — | (13 | ) | ||||||||||
Options | — | 1 | — | 1 | ||||||||||||
Interest Rate Swaps | — | (276 | ) | — | (276 | ) | ||||||||||
Small Capitalization Portfolio | ||||||||||||||||
Common Stocks1 | $ | 110,453 | $ | — | $ | — | $ | 110,453 | ||||||||
Contingent Rights | — | 3 | — | 3 | ||||||||||||
Warrant | —6 | — | — | —6 | ||||||||||||
Time Deposit | — | 3,017 | — | 3,017 | ||||||||||||
Mutual Funds | 12,218 | — | — | 12,218 | ||||||||||||
Total Investments | $ | 122,671 | $ | 3,020 | $ | — | $ | 125,691 | ||||||||
Institutional Small Capitalization Portfolio | ||||||||||||||||
Common Stocks1 | $ | 147,214 | $ | — | $ | — | $ | 147,214 | ||||||||
Time Deposit | — | 4,239 | — | 4,239 | ||||||||||||
Mutual Funds | 28,152 | — | — | 28,152 | ||||||||||||
Total Investments | $ | 175,366 | $ | 4,239 | $ | — | $ | 179,605 | ||||||||
Real Estate Portfolio | ||||||||||||||||
Common Stocks | $ | 168,729 | $ | — | $ | — | $ | 168,729 | ||||||||
Mutual Fund | 2,528 | — | — | 2,528 | ||||||||||||
Total Investments | $ | 171,257 | $ | — | $ | — | $ | 171,257 |
193
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
Portfolio | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
Commodity Portfolio | ||||||||||||||||
Common Stocks1,4 | $ | 667,111 | $ | 335 | $ | — | $ | 667,446 | ||||||||
Preferred Stocks | 5,295 | — | — | 5,295 | ||||||||||||
Warrant | 23 | — | — | 23 | ||||||||||||
Rights | 67 | — | — | 67 | ||||||||||||
Corporate Bonds1,4 | — | 4,775 | — | 4,775 | ||||||||||||
Asset Backed Securities | — | 6,385 | — | 6,385 | ||||||||||||
Collateralized Mortgage Obligations | — | 4,632 | — | 4,632 | ||||||||||||
Certificate of Deposit | — | 800 | — | 800 | ||||||||||||
Global Bonds | — | 5,832 | — | 5,832 | ||||||||||||
U.S. Government Agency Securities | — | 68,262 | — | 68,262 | ||||||||||||
U.S. Treasury Obligations | — | 61,743 | — | 61,743 | ||||||||||||
Yankee Dollars | — | 9,437 | — | 9,437 | ||||||||||||
Time Deposit | — | 5,908 | — | 5,908 | ||||||||||||
Mutual Fund | 2,340 | — | — | 2,340 | ||||||||||||
Call Options Purchased | 23 | — | — | 23 | ||||||||||||
Put Option Purchased | — | 108 | — | 108 | ||||||||||||
Repurchase Agreements | — | 209,200 | — | 209,200 | ||||||||||||
Total Investments | $ | 674,859 | $ | 377,417 | $ | — | $ | 1,052,276 | ||||||||
Other Financial Instruments5 | ||||||||||||||||
Futures | $ | (935 | ) | $ | — | $ | — | $ | (935 | ) | ||||||
Currency Contracts | — | (157 | ) | — | (157 | ) | ||||||||||
Options | (40 | ) | (33 | ) | — | (73 | ) | |||||||||
Variance Swaps | 9 | (2 | ) | — | 7 | |||||||||||
Commodity Swaps | — | (775 | ) | — | (775 | ) | ||||||||||
Total Return Swaps | — | (166 | ) | — | (166 | ) | ||||||||||
Interest Rate Swaps | — | (499 | ) | — | (499 | ) | ||||||||||
International Portfolio | ||||||||||||||||
Common Stocks1,4 | 1,420,837 | — | — | 1,420,837 | ||||||||||||
Preferred Stocks1 | 4,481 | — | — | 4,481 | ||||||||||||
Warrant | 46 | — | — | 46 | ||||||||||||
Time Deposit | — | 16,318 | — | 16,318 | ||||||||||||
Right | 82 | — | — | 82 | ||||||||||||
Mutual Funds | 115,327 | — | — | 115,327 | ||||||||||||
Total Investments | $ | 1,540,773 | $ | 16,318 | $ | — | $ | 1,557,091 | ||||||||
Other Financial Instruments5 | ||||||||||||||||
Currency Contracts | $ | — | $ | 105 | $ | — | $ | 105 |
194
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
Portfolio | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
Institutional International Portfolio | ||||||||||||||||
Common Stocks1,4 | $ | 2,609,618 | $ | — | $ | — | $ | 2,609,618 | ||||||||
Preferred Stocks1 | 6,974 | — | — | 6,974 | ||||||||||||
Warrant | 63 | — | — | 63 | ||||||||||||
Right | 152 | — | — | 152 | ||||||||||||
Time Deposit | — | 12,709 | — | 12,709 | ||||||||||||
Mutual Funds | 243,056 | — | — | 243,056 | ||||||||||||
Total Investments | $ | 2,859,863 | $ | 12,709 | $ | — | $ | 2,872,572 | ||||||||
Other Financial Instruments5 | ||||||||||||||||
Currency Contracts | $ | — | $ | 125 | $ | — | $ | 125 | ||||||||
Emerging Markets Portfolio | ||||||||||||||||
Common Stocks1,4 | 1,269,086 | 1,041 | — | 1,270,127 | ||||||||||||
Preferred Stocks1,4 | 41,469 | — | — | 41,469 | ||||||||||||
Time Deposit | — | 15,631 | — | 15,631 | ||||||||||||
Mutual Funds | 32,295 | — | — | 32,295 | ||||||||||||
Total Investments | $ | 1,342,850 | $ | 16,672 | $ | — | $ | 1,359,522 | ||||||||
Other Financial Instruments5 | ||||||||||||||||
Futures | $ | (85 | ) | $ | — | $ | — | $ | (85 | ) | ||||||
Currency Contracts | — | (164 | ) | — | (164 | ) | ||||||||||
Core Fixed Income Portfolio | ||||||||||||||||
Asset Backed Securities | $ | — | $ | 405 | $ | — | $ | 405 | ||||||||
Collateralized Mortgage Obligations | — | 2,075 | — | 2,075 | ||||||||||||
U.S. Government Agency Mortgages | — | 36,935 | — | 36,935 | ||||||||||||
U.S. Government Agency Securities | — | 2,565 | — | 2,565 | ||||||||||||
Corporate Bonds1 | — | 25,118 | — | 25,118 | ||||||||||||
U.S. Treasury Obligations | — | 23,224 | — | 23,224 | ||||||||||||
Yankee Dollars1 | — | 6,722 | — | 6,722 | ||||||||||||
Preferred Stocks1 | 794 | — | — | 794 | ||||||||||||
Time Deposit | — | 329 | — | 329 | ||||||||||||
Mutual Funds | 5,876 | — | — | 5,876 | ||||||||||||
Total Investments | $ | 6,670 | $ | 97,373 | $ | — | $ | 104,043 | ||||||||
TBA Sale Commitments | $ | — | $ | (1,667 | ) | $ | — | $ | (1,667 | ) | ||||||
Fixed Opportunity Portfolio | ||||||||||||||||
Corporate Bonds1 | $ | — | $ | 698,173 | $ | — | $ | 698,173 | ||||||||
Yankee Dollars1 | — | 178,860 | — | 178,860 | ||||||||||||
Preferred Stocks1,4 | 1,484 | — | — | 1,484 | ||||||||||||
Time Deposit | — | 15,248 | — | 15,248 | ||||||||||||
Mutual Fund | 477 | — | — | 477 | ||||||||||||
Total Investments | $ | 1,961 | $ | 892,281 | $ | — | $ | 894,242 |
195
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Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
Portfolio | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||||||
U.S. Government Fixed Income Portfolio | ||||||||||||||||
U.S. Government Agency Securities | $ | — | $ | 24,655 | $ | — | $ | 24,655 | ||||||||
Corporate Bond1 | — | 276 | — | 276 | ||||||||||||
U.S. Treasury Obligations | — | 223,000 | — | 223,000 | ||||||||||||
Time Deposit | — | 1,509 | — | 1,509 | ||||||||||||
Total Investments | $ | — | $ | 249,440 | $ | — | $ | 249,440 | ||||||||
U.S. Corporate Fixed Income Portfolio | ||||||||||||||||
Corporate Bonds1 | $ | — | $ | 161,561 | $ | — | $ | 161,561 | ||||||||
Yankee Dollars1 | — | 43,890 | — | 43,890 | ||||||||||||
Preferred Stocks1 | 4,737 | — | — | 4,737 | ||||||||||||
Time Deposit | — | 1,000 | — | 1,000 | ||||||||||||
Mutual Fund | 10,517 | — | — | 10,517 | ||||||||||||
Total Investments | $ | 15,254 | $ | 206,451 | $ | — | $ | 221,705 | ||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | ||||||||||||||||
Asset Backed Securities | $ | — | $ | 2,700 | $ | — | $ | 2,700 | ||||||||
Collateralized Mortgage Obligations | — | 13,631 | — | 13,631 | ||||||||||||
U.S. Government Agency Mortgages | — | 241,332 | — | 241,332 | ||||||||||||
Mutual Funds | 36,232 | — | — | 36,232 | ||||||||||||
Total Investments | $ | 36,232 | $ | 257,663 | $ | — | $ | 293,895 | ||||||||
TBA Sale Commitments | $ | — | $ | (12,301 | ) | $ | — | $ | (12,301 | ) | ||||||
Short-Term Municipal Portfolio | ||||||||||||||||
Municipal Bonds5 | $ | — | $ | 21,992 | $ | — | $ | 21,992 | ||||||||
Mutual Fund | 509 | — | — | 509 | ||||||||||||
Total Investments | $ | 509 | $ | 21,992 | $ | — | $ | 22,501 | ||||||||
Intermediate Municipal Portfolio | ||||||||||||||||
Municipal Bonds5 | $ | — | $ | 408,686 | $ | — | $ | 408,686 | ||||||||
Corporate Bond1 | — | —6 | — | —6 | ||||||||||||
Time Deposit | — | 304 | — | 304 | ||||||||||||
Total Investments | $ | — | $ | 408,990 | $ | — | $ | 408,990 | ||||||||
Intermediate Municipal II Portfolio | ||||||||||||||||
Municipal Bonds5 | $ | — | $ | 70,384 | $ | — | $ | 70,384 | ||||||||
Mutual Fund | 2,939 | — | — | 2,939 | ||||||||||||
Total Investments | $ | 2,939 | $ | 70,384 | $ | — | $ | 73,323 |
1 | Please see the Portfolio of Investments for industry classification. |
2 | Please see the Portfolio of Investments for country classification. |
3 | Please see the Portfolio of Investments for state classification. |
4 | Please see the Portfolio of Investments for securities noted as Level 2. |
5 | Other Financial Instruments are derivative instruments not reflected in the Portfolio of Investments, such as futures and currency contracts, which are valued at the unrealized appreciation/(depreciation) on the instrument and written options and swap agreements, which are valued at fair value. |
6 | Amounts are $0 or have been rounded to $0. |
196
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
The Trust’s policy is to disclose transfers between fair value hierarchy levels based on valuations at the end of the reporting period. There were transfers from Level 1 to Level 2 and Level 2 to Level 1 as of December 31, 2013.
Transfers from Level 1 to Level 2 | ||||
Commodity Portfolio | ||||
Common Stocks | $ | 335 |
Transfers from Level 2 to Level 1 | ||||
Commodity Portfolio | ||||
Common Stocks | $ | 4,822 | ||
Emerging Markets Portfolio | ||||
Common Stocks | $ | 2,029 |
C. Securities Transactions and Investment Income. For financial reporting purposes, portfolio securities transactions are reported on trade date. However, for daily NAV determination, portfolio securities transactions are reflected no later than in the first calculation on the first business day following trade date. Dividend income is recognized on the ex-dividend date and foreign dividends are recognized as soon as reliable information is available from the Portfolio’s sources. Interest income, including amortization of premium and accretion of discount on investments, is accrued daily, as earned. Realized gains and losses from securities transactions are determined by comparing the identified cost of the security lot sold to the net sales proceeds. Realized gains and losses from paydown transactions on mortgage backed and asset backed securities are classified as investment income or loss for financial reporting purposes.
For certain securities, including real estate investment trusts, the Portfolio records distributions received in excess of income as a reduction of cost of investments and/or realized gain. Such amounts are based on estimates if actual amounts are not available. Actual amounts of income, realized gain and return of capital may differ from the estimated amounts. The Portfolio adjusts the estimated amounts of the components of distributions as adjustments to investment income, unrealized appreciation/depreciation and realized gain/loss on investments as necessary, once the issuers provide information about the actual composition of the distributions.
D. Restricted Securities. A restricted security is a security that cannot be offered for public sale without prior registration under the Securities Act of 1933 (the “1933 Act”) (absent an exemption). At December 31, 2013, the Institutional Growth Portfolio, Commodity Portfolio, International Equity Portfolio, Institutional International Equity Portfolio, Emerging Markets Portfolio, Core Fixed Income Portfolio, Fixed Opportunity Portfolio and U.S. Corporate Fixed Income Portfolio held restricted securities representing 0.46%, 1.44%, 3.36%, 2.69%, 2.78%, 5.44%, 32.62% and 15.37% of net assets, respectively. The restricted securities held as of December 31, 2013 are identified below:
Security | Acquisition Date | Acquisition Cost (000) | Principal Amount (000) | Fair Value (000) | ||||||||||||
Institutional Growth Portfolio: | ||||||||||||||||
Banco Bradesco SA, 2.34%, 5/16/14 | 5/9/11 | $ | 500 | $ | 500 | $ | 500 | |||||||||
Banco Votorantim SA, 5.25%, 2/11/16 | 2/7/11 | 988 | 1,000 | 1,033 | ||||||||||||
BlueMountain CLO Ltd., Series 2005-1A, Class A1F, 0.48%, 11/15/17 | 11/27/12 | 65 | 65 | 65 | ||||||||||||
DNB Bank ASA, 3.20%, 4/3/17 | 3/26/12 | 1,099 | 1,100 | 1,150 | ||||||||||||
Doric Nimrod Air Finance Alpha Ltd., Series 2012-1, Class A, 5.13%, 11/30/24 | 6/28/12 | 188 | 188 | 191 | ||||||||||||
Kingsland Ltd., Series 2005-1A, Class A1A, 0.49%, 6/13/19 | 11/28/12 | $ | 89 | $ | 90 | $ | 90 | |||||||||
Nordea Bank AB, 1.14%, 1/14/14 | 1/11/11 | 1,300 | 1,300 | 1,300 |
197
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Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
Security | Acquisition Date | Acquisition Cost (000) | Principal Amount (000) | Fair Value (000) | |||||||||||||
Institutional Growth Portfolio: (continued) | |||||||||||||||||
Republic of Slovenia, 4.70%, 11/1/16 | 11/15/13 | 398 | 400 | 566 | |||||||||||||
SSIF Nevada LP, 0.94%, 4/14/14 | 4/6/11 | 1,400 | 1,400 | 1,402 | |||||||||||||
$ | 6,027 | $ | 6,043 | $ | 6,297 | ||||||||||||
Commodity Portfolio: | |||||||||||||||||
Achmea Hypotheekbank NV, 3.20%, 11/3/14 | 2/8/12 | $ | 485 | $ | 462 | $ | 473 | ||||||||||
AIMCO, Series 2005-AAB, Class A1B, 0.49%, 10/20/19 | 8/27/12 | 239 | 246 | 243 | |||||||||||||
AK Transneft OAO – Preferred | 9/29/11 | 122 | 98 | 257 | |||||||||||||
Avenue CLO Ltd., Series 2004-2AL, Class A1L, 0.50%, 10/30/17 | 3/15/13 | 239 | 242 | 241 | |||||||||||||
BlueMountain CLO Ltd., Series 2005-1A, Class A1F, 0.48%, 11/15/17 | 11/27/12 | 285 | 288 | 287 | |||||||||||||
Citibank Omni Master Trust, Series 2009-A14A4, Class A14, 2.92%, 8/15/18 | 6/9/11 | 1,056 | 1,000 | 1,015 | |||||||||||||
Commercial Industrial Finance Corp., Series 2007-1AL, Class A1L, 0.50%, 5/10/21 | 6/15/11 | 561 | 600 | 591 | |||||||||||||
Deutsche Annington Finance BV, 3.20%, 10/2/17 | 9/25/13 | 1,400 | 1,400 | 1,416 | |||||||||||||
Dexia Credit Local SA NY, 1.25%, 10/18/16 | 10/10/13 | 997 | 1,000 | 1,000 | |||||||||||||
Fannie Mae, Series 2013-M4, Class X1, 3.95%, 2/25/18 | 3/28/13 | 409 | 2,958 | 393 | |||||||||||||
Fore CLO Ltd., Series 2007-1AB, Class A1B, 0.49%, 7/20/19 | 11/27/12 | 572 | 591 | 582 | |||||||||||||
Four Corners CLO Ltd., Series 2006-2A, Class A, 0.51%, 1/26/20 | 12/11/12 | 315 | 319 | 315 | |||||||||||||
HSBC Bank PLC, 1.63%, 7/7/14 | 6/28/11 | 999 | 1,000 | 1,007 | |||||||||||||
Kommunalbanken AS, 0.63%, 3/27/17 | 3/20/12 | 500 | 500 | 504 | |||||||||||||
New York Life Global Funding, 2.10%, 1/2/19 | 12/5/13 | 899 | 900 | 895 | |||||||||||||
Nordea Eiendomskreditt AS, 2.13%, 9/22/16 | 9/15/11 | 400 | 400 | 411 | |||||||||||||
Oak Hill Credit Partners, Series 2005-4AB, Class A1B, 0.49%, 5/17/21 | 9/11/12 | 300 | 305 | 305 | |||||||||||||
Reliance Industries Ltd. – Sponsored GDR | 8/10/11 | 4,860 | 166,605 | 4,822 | |||||||||||||
Republic of Slovenia, 4.70%, 11/1/16 | 11/15/13 | 299 | 300 | 424 | |||||||||||||
Stanfield Bristol CLO Ltd., Series 2005-1A, Class A1, 0.50%, 10/15/19 | 12/11/12 | 111 | 113 | 112 | |||||||||||||
$ | 15,046 | $ | 533,048 | $ | 15,293 | ||||||||||||
International Portfolio: | |||||||||||||||||
AIA Group Ltd. | 10/22/10 | $ | 73,314 | $ | 3,269,380 | $ | 16,401 | ||||||||||
CaixaBank SA | 3/22/13 | 1,084 | 393,283 | 2,049 | |||||||||||||
Deutsche Post AG | 8/8/12 | 3,578 | 226,044 | 8,240 | |||||||||||||
International Consolidated Airlines Group SA | 6/5/13 | 1,858 | 710,758 | 4,724 | |||||||||||||
KBC Groep NV | 9/9/13 | 1,974 | 52,703 | 2,991 | |||||||||||||
Lloyds Banking Group PLC | 3/28/13 | 4,900 | 8,094,768 | 10,572 | |||||||||||||
Merlin Entertainments PLC | 11/8/13 | 252 | 79,900 | 473 | |||||||||||||
Numbericable, Group SA | 11/8/13 | 465 | 17,342 | 630 | |||||||||||||
Royal Mail PLC | 10/11/13 | 924 | 217,266 | 2,050 | |||||||||||||
Ziggo NV | 3/21/12 | 2,480 | 96,113 | 4,389 | |||||||||||||
$ | 90,827 | $ | 13,157,557 | $ | 52,519 | ||||||||||||
Institutional International Portfolio: | |||||||||||||||||
AIA Group Ltd. | 10/22/10 | $ | 102,350 | $ | 4,614,718 | $ | 23,151 | ||||||||||
CaixaBank SA | 3/22/13 | 1,547 | 561,511 | 2,926 | |||||||||||||
Deutsche Post AG | 8/8/12 | 5,497 | 347,455 | 12,666 | |||||||||||||
International Consolidated Airlines Group SA | 6/5/13 | 2,646 | 1,014,239 | 6,741 | |||||||||||||
KBC Groep NV | 9/9/13 | $ | 2,961 | $ | 79,021 | $ | 4,484 | ||||||||||
Lloyds Banking Group PLC | 3/28/13 | 8,509 | 13,365,782 | 17,456 | |||||||||||||
Merlin Entertainments PLC | 11/8/13 | 367 | 116,500 | 690 | |||||||||||||
Numericable Group SA | 11/8/13 | 640 | 23,994 | 871 |
198
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
Security | Acquisition Date | Acquisition Cost (000) | Principal Amount (000) | Fair Value (000) | ||||||||||||
Institutional International Portfolio: (continued) | ||||||||||||||||
Royal Mail PLC | 10/11/13 | 1,423 | 333,962 | 3,152 | ||||||||||||
Ziggo NV | 3/21/12 | 3,458 | 128,933 | 4,759 | ||||||||||||
$ | 129,399 | $ | 20,586,115 | $ | 76,895 | |||||||||||
Emerging Markets Portfolio: | ||||||||||||||||
Global Bio-Chem Technology Group Co. Ltd. | 7/13/10 | $ | 20,154 | $ | 24,281,200 | $ | 1,879 | |||||||||
India Cements Ltd. | 10/13/11 | 318,927 | 5,434,347 | 5,285 | ||||||||||||
Lianhua Supermarket Holdings Ltd., H Shares | 1/4/12 | 38,765 | 6,132,000 | 4,745 | ||||||||||||
Magnesita Refratarios SA | 7/18/11 | 6,726 | 1,077,700 | 2,696 | ||||||||||||
NWS Holdings Ltd. | 3/18/10 | 43,967 | 3,725,656 | 5,679 | ||||||||||||
Reliance Industries Ltd. – Sponsored GDR | 9/29/11 | 1,924 | 70,100 | 2,029 | ||||||||||||
Rolta India Ltd. | 8/12/11 | 126,635 | 1,788,289 | 1,943 | ||||||||||||
Rosneft Oil Co. OJSC – Sponsored GDR, Registered Shares | 5/10/13 | 9,504 | 1,315,880 | 10,020 | ||||||||||||
Via Varejo SA | 12/13/13 | 7,914 | 344,107 | 3,669 | ||||||||||||
$ | 574,516 | $ | 44,169,279 | $ | 37,945 | |||||||||||
Core Fixed Income Portfolio: | ||||||||||||||||
American Airlines 2013-2, Class A | 7/24/13 | $ | 689 | $ | 674 | $ | 695 | |||||||||
Barrick International (Barbados) Corp. | 12/8/10 | 227 | 207 | 186 | ||||||||||||
ERAC USA Finance Co. | 12/9/10 | 156 | 142 | 151 | ||||||||||||
ERAC USA Finance Co. | 12/9/10 | 321 | 309 | 340 | ||||||||||||
ERAC USA Finance LLC | 7/18/13 | 316 | 316 | 320 | ||||||||||||
Fairfax Financial Holdings Ltd. | 5/4/11 | 278 | 279 | 283 | ||||||||||||
Japan Tobacco, Inc. | 7/16/13 | 381 | 381 | 380 | ||||||||||||
MassMutual Global Funding LLC | 3/29/12 | 289 | 290 | 291 | ||||||||||||
Mylan, Inc. | 6/18/13 | 160 | 160 | 163 | ||||||||||||
Perrigo Co. PLC | 12/2/13 | 214 | 212 | 208 | ||||||||||||
Sabmiller Holdings, Inc. | 1/10/12 | 454 | 455 | 466 | ||||||||||||
SoftBank Corp. | 4/18/13 | 385 | 385 | 375 | ||||||||||||
TSMC Global Ltd. | 3/27/13 | 356 | 356 | 341 | ||||||||||||
Volkswagen International Finance N.V. | 3/19/12 | 352 | 354 | 363 | ||||||||||||
Wesfarmers Ltd. | 3/13/13 | 315 | 315 | 306 | ||||||||||||
Woodside Finance Ltd. | 5/5/11 | 455 | 452 | 473 | ||||||||||||
$ | 5,347 | $ | 5,287 | $ | 5,341 | |||||||||||
Fixed Opportunity Portfolio: | ||||||||||||||||
Activision Blizzard, Inc. (Software), Callable 9/15/16 @ 104.22 | 9/12/13 | $ | 3,924 | $ | 3,901 | $ | 4,038 | |||||||||
Albea Beauty Holdings SA | 10/17/12 | 4,992 | 4,817 | 5,010 | ||||||||||||
Allegion US Holding Co., Inc. Callable 10/1/16 @ 104.31 | 9/27/13 | 4,094 | 4,094 | 4,258 | ||||||||||||
Alliant Techsystems, Inc. Callable 10/1/16 @ 103.94 | 10/22/13 | 4,897 | 4,897 | 4,909 | ||||||||||||
American Airlines Pass-Through Trust, Series 2013-2, Class B | 12/6/13 | 2,378 | 2,366 | 2,390 | ||||||||||||
Amsted Industries, Inc. (Machinery), Callable 3/15/14 @ 104.06 | 3/12/10 | 607 | 610 | 643 | ||||||||||||
Aramark Corp. (Food Products), Callable 3/15/15 @ 104.31 | 2/22/13 | 1,070 | 1,049 | 1,096 | ||||||||||||
Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp. Callable 2/1/18 @ 102.94 | 1/28/13 | 1,144 | 1,144 | 1,090 | ||||||||||||
Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp. Callable 2/1/18 @ 102.94 | 5/7/13 | $ | 1,500 | $ | 1,500 | $ | 1,373 | |||||||||
Audatex Holdings, Inc. Callable 6/15/17 @ 103.00 | 10/17/13 | 5,088 | 5,000 | 5,238 | ||||||||||||
Banco del Estado de Chile | 12/13/13 | 154 | 150 | 152 | ||||||||||||
Barry Callebaut Services NV | 10/31/13 | 5,631 | 5,540 | 5,651 | ||||||||||||
Belden, Inc. Callable 9/1/17 @ 102.75 | 8/13/12 | 1,954 | 1,953 | 1,914 |
199
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
Security | Acquisition Date | Acquisition Cost (000) | Principal Amount (000) | Fair Value (000) | ||||||||||||
Fixed Opportunity Portfolio: (continued) | ||||||||||||||||
BI-LO LLC/BI-LO Finance Corp.Callable 2/15/15 @ 104.63 | 6/7/12 | 6,352 | 5,799 | 6,408 | ||||||||||||
Bombardier, Inc. | 2/13/12 | 2,252 | 1,974 | 2,240 | ||||||||||||
Bombardier, Inc. | 3/5/12 | 1,175 | 1,180 | 1,171 | ||||||||||||
Bombardier, Inc. | 1/9/13 | 2,617 | 2,613 | 2,593 | ||||||||||||
Calcipar SA | 6/7/12 | 1,604 | 1,600 | 1,696 | ||||||||||||
Calfrac Holdings LP | 12/16/13 | 416 | 405 | 413 | ||||||||||||
Calpine Corp. | 5/31/12 | 2,745 | 2,576 | 2,811 | ||||||||||||
Calpine Corp. | 12/6/11 | 5,309 | 4,953 | 5,411 | ||||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. | 2/28/13 | 1,799 | 1,765 | 1,686 | ||||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. | 8/6/13 | 686 | 720 | 682 | ||||||||||||
Cequel Communications Holdings I LLC/Cequel Capital Corp. | 10/11/12 | 7,107 | 6,945 | 7,119 | ||||||||||||
CIT Group, Inc. | 3/21/12 | 3,861 | 3,515 | 3,950 | ||||||||||||
CIT Group, Inc. | 2/2/12 | 2,155 | 2,155 | 2,233 | ||||||||||||
Clayton Williams Energy, Inc. | 12/11/13 | 2,155 | 2,077 | 2,134 | ||||||||||||
Cogeco Cable, Inc. | 4/18/13 | 2,093 | 2,107 | 2,033 | ||||||||||||
DigitalGlobe, Inc. | 1/25/13 | 579 | 574 | 560 | ||||||||||||
Drill Rigs Holdings, Inc. | 9/13/12 | 5,769 | 5,702 | 6,158 | ||||||||||||
Expro Finance Luxembourg SCA | 5/31/12 | 6,019 | 5,810 | 6,057 | ||||||||||||
Exterran Partners LP | 3/22/13 | 5,026 | 5,108 | 5,070 | ||||||||||||
FMG Resources (August 2006) Pty Ltd. | 9/7/12 | 199 | 205 | 216 | ||||||||||||
FMG Resources (August 2006) Pty Ltd. | 10/25/11 | 5,315 | 5,245 | 5,888 | ||||||||||||
FMG Resources (August 2006) Pty Ltd. | 5/29/12 | 1,490 | 1,525 | 1,662 | ||||||||||||
General Motors Financial Co. | 5/7/13 | 4,377 | 4,589 | 4,365 | ||||||||||||
Gibson Energy, Inc. | 6/25/13 | 1,788 | 1,814 | 1,918 | ||||||||||||
Hawk Acquisition Sub, Inc. | 3/22/13 | 5,715 | 5,715 | 5,529 | ||||||||||||
Hilcorp Energy, Inc./Hilcorp Energy Co. | 5/29/12 | 6,490 | 5,999 | 6,494 | ||||||||||||
Hilcorp Energy, Inc./Hilcorp Energy Co. | 5/10/13 | 1,001 | 900 | 977 | ||||||||||||
IAC/InterActiveCorp | 12/21/12 | 1,061 | 1,061 | 989 | ||||||||||||
IAC/InterActiveCorp | 11/12/13 | 4,486 | 4,473 | 4,551 | ||||||||||||
ILFC E-Capital Trust ll | 3/30/10 | 254 | 330 | 312 | ||||||||||||
Intelsat Jackson Holdings SA | 5/21/13 | 5,894 | 6,065 | 5,769 | ||||||||||||
Intergen NV | 6/7/13 | 3,169 | 3,224 | 3,337 | ||||||||||||
J.B. Poindexter & Co., Inc. | 6/13/12 | 1,095 | 1,100 | 1,174 | ||||||||||||
JBS USA LLC/JBS USA Finance, Inc. | 5/29/12 | 7,958 | 8,000 | 8,340 | ||||||||||||
Jefferies LoanCore LLC/Jefferies Finance LLC | 5/16/13 | 280 | 280 | 277 | ||||||||||||
JMC Steel Group, Inc. | 3/4/11 | 2,678 | 2,622 | 2,648 | ||||||||||||
Linn Energy LLC/Linn Energy Finance Corp. | 5/9/13 | 796 | 760 | 768 | ||||||||||||
LKQ Corp. | 6/11/13 | 3,531 | 3,660 | 3,404 | ||||||||||||
Lynx I Corp. | 2/7/13 | 1,134 | 1,134 | 1,134 | ||||||||||||
MedImpact Holdings, Inc. | 2/1/11 | 2,256 | 2,246 | 2,465 | ||||||||||||
MEG Energy Corp. | 6/28/13 | 2,390 | 2,400 | 2,526 | ||||||||||||
MEG Energy Corp. | 7/16/12 | $ | 3,816 | $ | 3,691 | $ | 3,714 | |||||||||
MEG Energy Corp. | 9/26/13 | 1,000 | 1,000 | 1,013 | ||||||||||||
Meritage Homes Corp. | 11/21/13 | 4,182 | 3,919 | 4,233 | ||||||||||||
MetroPCS Wireless, Inc. | 3/8/13 | 2,758 | 2,723 | 2,825 | ||||||||||||
MetroPCS Wireless, Inc. | 3/8/13 | 1,305 | 1,305 | 1,347 | ||||||||||||
MidContinent Express Pipeline LLC | 5/6/13 | 2,461 | 2,400 | 2,340 | ||||||||||||
NGL Energy Partners LP | 10/10/13 | 3,184 | 3,184 | 3,264 |
200
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
Security | Acquisition Date | Acquisition Cost (000) | Principal Amount (000) | Fair Value (000) | ||||||||||||
Fixed Opportunity Portfolio: (continued) | ||||||||||||||||
Nuance Communications, Inc. | 8/9/12 | 2,591 | 2,556 | 2,498 | ||||||||||||
Oasis Petroleum, Inc. | 9/10/13 | 3,899 | 3,899 | 4,133 | ||||||||||||
Pacific Drilling SA | 5/17/13 | 6,228 | 6,348 | 6,380 | ||||||||||||
Pacific Drilling V Ltd. | 11/16/12 | 2,594 | 2,521 | 2,723 | ||||||||||||
Penerbangan Malaysia Berhad | 12/13/13 | 570 | 520 | 567 | ||||||||||||
Petronas Capital Ltd. | 12/13/13 | 277 | 250 | 274 | ||||||||||||
Post Holdings, Inc. | 7/11/13 | 2,745 | 2,595 | 2,777 | ||||||||||||
Provident Funding Associates LP/PFG Finance Corp. | 5/22/13 | 460 | 460 | 458 | ||||||||||||
Rockies Express Pipeline LLC | 1/10/13 | 1,042 | 1,042 | 964 | ||||||||||||
RSI Home Products, Inc. | 2/15/13 | 4,378 | 4,181 | 4,380 | ||||||||||||
Sabine Pass Liquefaction LLC | 1/29/13 | 5,229 | 5,231 | 5,113 | ||||||||||||
Sabine Pass Liquefaction LLC | 4/10/13 | 960 | 960 | 898 | ||||||||||||
Sabre, Inc. | 6/7/12 | 638 | 632 | 702 | ||||||||||||
Salix Pharmaceuticals Ltd. | 12/12/13 | 1,038 | 1,038 | 1,064 | ||||||||||||
SemGroup LP | 6/7/13 | 3,072 | 3,036 | 3,211 | ||||||||||||
Sensata Technologies BV | 9/5/13 | 1,489 | 1,597 | 1,501 | ||||||||||||
Service Corp. International | 6/17/13 | 1,000 | 1,000 | 1,013 | ||||||||||||
Sinclair Television Group, Inc. | 9/26/13 | 1,600 | 1,600 | 1,656 | ||||||||||||
Sinochem Hong Kong Group Co. Ltd. | 12/13/13 | 257 | 250 | 255 | ||||||||||||
Sirius XM Radio, Inc. | 8/8/12 | 1,665 | 1,655 | 1,672 | ||||||||||||
Sirius XM Radio, Inc. | 5/2/13 | 2,698 | 2,714 | 2,565 | ||||||||||||
Sirius XM Radio, Inc. | 9/19/13 | 352 | 352 | 359 | ||||||||||||
SoftBank Corp. | 4/18/13 | 3,966 | 4,011 | 3,911 | ||||||||||||
Sprint Nextel Corp. | 6/28/13 | 1,956 | 1,665 | 2,006 | ||||||||||||
Sprint Nextel Corp. | 2/27/12 | 2,151 | 1,960 | 2,185 | ||||||||||||
Stackpole International Intermediate Co. SA | 10/1/13 | 2,868 | 2,817 | 2,930 | ||||||||||||
StoneMor Partners LP | 5/16/13 | 3,444 | 3,444 | 3,582 | ||||||||||||
Sun Merger Sub, Inc. | 7/19/13 | 192 | 192 | 201 | ||||||||||||
Taylor Morrison Communities, Inc. | 4/11/13 | 3,823 | 3,830 | 3,725 | ||||||||||||
Tenet Healthcare Corp. | 9/13/13 | 14,294 | 13,788 | 14,391 | ||||||||||||
The ADT Corp. | 12/10/13 | 4,092 | 3,897 | 4,092 | ||||||||||||
The Nielsen Co. (Luxembourg) Sarl | 9/20/13 | 804 | 804 | 816 | ||||||||||||
Titan International, Inc. | 9/26/13 | 5,158 | 5,132 | 5,350 | ||||||||||||
T-Mobile USA, Inc. | 8/14/13 | 163 | 163 | 172 | ||||||||||||
TRW Automotive, Inc. | 2/25/13 | 1,330 | 1,320 | 1,333 | ||||||||||||
Tullow Oil PLC | 11/1/13 | 3,751 | 3,751 | 3,807 | ||||||||||||
UPCB Finance V Ltd. | 11/8/11 | 3,763 | 3,570 | 3,873 | ||||||||||||
UPCB Finance VI Ltd. | 7/3/12 | 2,216 | 2,119 | 2,251 | ||||||||||||
Valeant Pharmaceuticals International, Inc. | 8/5/13 | 1,068 | 1,038 | 1,094 | ||||||||||||
Valeant Pharmaceuticals International, Inc. | 10/3/11 | 873 | 908 | 938 | ||||||||||||
Valeant Pharmaceuticals International, Inc. | 11/15/13 | $ | 2,081 | $ | 2,081 | $ | 2,091 | |||||||||
VPII Escrow Corp. | 6/27/13 | 1,055 | 1,055 | 1,158 | ||||||||||||
VPII Escrow Corp. | 6/27/13 | 5,622 | 5,520 | 6,065 | ||||||||||||
Weekley Homes LLC | 1/28/13 | 490 | 490 | 473 | ||||||||||||
Wind Acquisition Finance SA | 11/18/10 | 2,365 | 2,503 | 2,634 | ||||||||||||
Wind Acquisition Finance SA | 1/9/13 | 912 | 881 | 923 | ||||||||||||
$ | 292,430 | $ | 287,544 | $ | 296,825 |
201
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
Security | Acquisition Date | Acquisition Cost (000) | Principal Amount (000) | Fair Value (000) | ||||||||||||
U.S. Corporate Fixed Income Portfolio: | ||||||||||||||||
American Airlines 2013-2, Class A | 7/24/13 | $ | 4,496 | $ | 4,404 | $ | 4,539 | |||||||||
Barrick International (Barbados) Corp. | 12/8/10 | 1,650 | 1,507 | 1,350 | ||||||||||||
ERAC USA Finance Co. | 12/9/10 | 725 | 658 | 699 | ||||||||||||
ERAC USA Finance Co. | 12/9/10 | 2,467 | 2,372 | 2,608 | ||||||||||||
ERAC USA Finance LLC | 7/18/13 | 2,104 | 2,107 | 2,133 | ||||||||||||
Fairfax Financial Holdings Ltd. | 5/4/11 | 1,820 | 1,826 | 1,851 | ||||||||||||
Japan Tobacco, Inc. | 7/16/13 | 2,534 | 2,537 | 2,530 | ||||||||||||
MassMutual Global Funding LLC | 3/29/12 | 1,515 | 1,522 | 1,526 | ||||||||||||
Mylan, Inc. | 6/18/13 | 1,053 | 1,054 | 1,075 | ||||||||||||
Perrigo Co. PLC | 12/2/13 | 1,417 | 1,403 | 1,377 | ||||||||||||
Sabmiller Holdings, Inc. | 1/10/12 | 2,296 | 2,300 | 2,355 | ||||||||||||
SoftBank Corp. | 4/18/13 | 2,516 | 2,516 | 2,453 | ||||||||||||
TSMC Global Ltd. | 3/27/13 | 2,290 | 2,292 | 2,195 | ||||||||||||
Volkswagen International Finance N.V. | 3/19/12 | 1,846 | 1,858 | 1,906 | ||||||||||||
Wesfarmers Ltd. | 3/13/13 | 1,977 | 1,977 | 1,921 | ||||||||||||
Woodside Finance Ltd. | 5/5/11 | 4,017 | 3,991 | 4,180 | ||||||||||||
$ | 34,723 | $ | 34,324 | $ | 34,698 |
E. Allocations. Expenses directly attributable to a Portfolio are charged to that Portfolio. Class specific expenses, if any, are borne by that class. Other expenses are allocated proportionately among the Portfolios in relation to the net assets of each Portfolio or by another appropriate method. Income, non-class specific expenses and realized and unrealized gains and losses are allocated to the respective classes based on relative net assets.
F. Dividends and Capital Gain Distributions to Shareholders. The Core Fixed Income Portfolio, U.S. Government Fixed Income Portfolio, U.S. Corporate Fixed Income Portfolio, U.S. Mortgage/Asset Backed Fixed Income Portfolio, Short-Term Municipal Portfolio, Intermediate Municipal Portfolio and Intermediate Municipal II Portfolio declare and distribute dividends from net investment income on a monthly basis. The Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Fixed Opportunity Portfolio and Commodity Portfolio declare and distribute dividends from net investment income on a quarterly basis. The International Portfolio and the Institutional International Portfolio declare and distribute dividends from net investment income, if any, on a semiannual basis. The Emerging Markets Portfolio declares and distributes dividends from net investment income, if any, on an annual basis. Net realized capital gains, if any, are declared and distributed at least annually by each Portfolio.
G. Repurchase Agreements. Among the instruments that each of the Portfolios may use for temporary investment purposes are repurchase agreements. Under the terms of a typical repurchase agreement, a Portfolio would acquire an underlying debt security for a relatively short period (usually not more than one week), subject to an obligation of the seller to repurchase that security and the obligation of the Portfolio to resell that security at an agreed-upon price and date. Repurchase agreements could involve certain risks in the event of default or insolvency of the other party, including possible delays or restrictions upon the Portfolio’s ability to dispose of the underlying securities. The creditworthiness of those banks and non-bank dealers with which the Portfolios may enter into repurchase agreements are monitored in accordance with guidelines adopted by the Board, as is the market value of the securities underlying any repurchase agreement to ensure that the repurchase obligation of the seller is collateralized by an amount at least equal to the repurchase price including accrued interest. All repurchase agreements are fully collateralized by government securities (as defined in the 1940 Act), or securities that, at the time the repurchase agreement is entered into, are rated in the highest rating category by two or more Nationally
202
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
Recognized Statistical Rating Organizations (“NRSROs”) or the only NRSRO issuing a rating, or, if unrated, are of comparable quality provided that the collateral is an eligible investment for the Portfolio.
H. TBA Purchase and Sale Commitments. Certain of the Portfolios may enter into “TBA” (to be announced) commitments to purchase or sell securities for a fixed price at a future date, typically not to exceed 45 days. TBA commitments may be considered securities in themselves, and involve a risk of loss if the value of the security to be purchased or sold declines or increases, respectively, prior to settlement date. The risk is in addition to the risk of decline in the value of a Portfolio’s other assets. Unsettled TBA commitments are valued at the current market value of the underlying securities, according to the procedures described under “Securities Valuation” above.
I. Commission Recapture. Certain of the Portfolios participate in a commission recapture program. These Portfolios will utilize the recaptured commissions to pay for, in whole or in part, certain expenses of the Portfolios, excluding investment advisory and distribution fees. The expenses eligible to be paid will include, but are not limited to, administration fees, audit fees, custodian fees, legal fees and printing expenses, as directed by the Trust. These amounts are disclosed as “Expenses paid indirectly” on the Statements of Operations.
For the period ending December 31, 2013, the following commissions were recaptured (amounts in thousands):
Portfolio | Commissions Recaptured | |||
Value Portfolio | $ | 8 | ||
Institutional Value Portfolio | 17 | |||
Growth Portfolio | 4 | |||
Institutional Growth Portfolio | 5 | |||
Small Cap—Mid Cap Portfolio | 3 | |||
Institutional Small Cap—Mid Cap Portfolio | 6 | |||
Commodity Portfolio | 6 | |||
International Portfolio | 7 | |||
Institutional International Portfolio | 19 | |||
Emerging Markets Portfolio | 5 |
J. Foreign Exchange Transactions. The books and records of the Portfolios are maintained in U.S. dollars. Non-U.S. dollar denominated amounts are translated into U.S. dollars as follows, with the resultant exchange gains and losses recorded in the Statements of Operations:
i) value of investment securities and other assets and liabilities at the exchange rate on the valuation date; and
ii) purchases and sales of investment securities and income and expenses at the exchange rate prevailing on the respective date of such transactions.
The Portfolios do not isolate realized and unrealized gains and losses attributable to changes in the exchange rates from gains and losses that arise from changes in the value of investments. Such fluctuations are included with net realized and unrealized gain or loss on investments.
Dividends and interest from non-U.S. sources received by a Portfolio are generally subject to non-U.S. withholding taxes at rates ranging up to 30%. Such withholding taxes may be reduced or eliminated under the terms of applicable U.S. income tax treaties, and each Portfolio intends to, if reasonable, undertake any procedural steps required to claim the benefits of such treaties. If the value of more than 50% of a Portfolio’s total assets at the close of any taxable year consists of stock or securities of non-U.S. corporations, the Portfolio may elect to treat any non-U.S. taxes paid by it as paid by its shareholders.
203
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
The Portfolios may be subject to foreign taxes on gains in investments or currency repatriation. The Portfolios accrue such taxes, as applicable, based on their current interpretation of tax rules in the foreign markets in which they invest.
K. Derivative Instruments. Certain of the Portfolios may invest in various financial instruments including positions in forward currency contracts, financial futures contracts, options contracts and swap agreements.
The following is a summary of the fair value of derivative instruments held by the Portfolios as of December 31, 2013 (amounts in thousands).
Assets | ||||||||||||||||
Fund | Net unrealized appreciation on futures contracts* | Investments, at value for written options | Unrealized appreciation on forward currency contracts | Swap agreements, at value | ||||||||||||
Equity Risk Exposure: | ||||||||||||||||
Institutional Growth Portfolio | $ | 5,517 | $ | — | $ | — | $ | — | ||||||||
Emerging Markets Portfolio | 50 | — | — | — | ||||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||
Institutional Growth Portfolio | — | — | 382 | — | ||||||||||||
Commodity Portfolio | — | — | 55 | — | ||||||||||||
International Portfolio | — | — | 129 | — | ||||||||||||
Institutional International Portfolio | — | — | 191 | — | ||||||||||||
Emerging Markets Portfolio | — | — | 461 | — | ||||||||||||
Commodity Risk Exposure: | ||||||||||||||||
Commodity Portfolio | 2,728 | — | — | 160 | ||||||||||||
Interest Rate Risk Exposure: | ||||||||||||||||
Institutional Growth Portfolio | 33 | — | — | 76 | ||||||||||||
Commodity Portfolio | — | — | 7 |
204
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Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
Liabilities | ||||||||||||||||
Fund | Net unrealized deprecation on futures contracts* | Written options, at fair value | Unrealized depreciation on forward currency contracts | Net swap agreements, at value | ||||||||||||
Equity Risk Exposure: | ||||||||||||||||
Institutional Growth Portfolio | $ | — | $ | — | $ | — | $ | — | ||||||||
Emerging Markets Portfolio | $ | 135 | $ | — | $ | — | $ | — | ||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||
Institutional Growth Portfolio | — | 3 | 395 | — | ||||||||||||
Commodity Portfolio | — | — | 212 | |||||||||||||
International Portfolio | — | — | 24 | — | ||||||||||||
Institutional International Portfolio | — | — | 66 | — | ||||||||||||
Emerging Markets Portfolio | — | — | 625 | — | ||||||||||||
Commodity Risk Exposure: | ||||||||||||||||
Commodity Portfolio | 3,663 | 69 | — | 1,094 | ||||||||||||
Interest Rate Risk Exposure: | ||||||||||||||||
Institutional Growth Portfolio | 504 | 44 | — | 349 | ||||||||||||
Commodity Portfolio | — | 4 | — | 506 |
* | Total Fair Value is presented by Primary Risk Exposure. For foreign currency contracts, such amounts represent the appreciation (for asset derivatives) or depreciation (for liability derivatives). For futures contracts, the amounts represent their cumulative appreciation/depreciation. |
Amounts designated as “—” are $0 or have been rounded to $0.
The following is the summary of the effect of derivative instruments on the Statements of Operations for the period ending December 31, 2013 (amounts in thousands).
Fund | Net realized gains/(losses) from futures transactions | Net realized gains/(losses) from written options transactions | Net realized gains/(losses) from purchased options transactions | Net realized gains/(losses) from foreign currency transactions | Net realized gains/(losses) from swap transactions | |||||||||||||||
Equity Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | $ | 14,561 | $ | (10 | ) | $ | — | $ | — | $ | — | |||||||||
Small Cap Portfolio | 35 | — | — | — | — | |||||||||||||||
Emerging Markets Portfolio | 406 | — | — | — | — | |||||||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||||||
Value Portfolio | — | — | — | (1 | ) | — | ||||||||||||||
Institutional Value Portfolio | — | — | — | (1 | ) | — | ||||||||||||||
Institutional Growth Portfolio | 141 | 40 | — | 281 | 28 | |||||||||||||||
Commodity Portfolio | — | — | — | (523 | ) | — | ||||||||||||||
International Portfolio | 48 | — | — | (89 | ) | — | ||||||||||||||
Institutional International Portfolio | 123 | — | — | (599 | ) | — | ||||||||||||||
Emerging Markets Portfolio | 237 | — | — | (1,510 | ) | — |
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Fund | Net realized gains/(losses) from futures transactions | Net realized gains/(losses) from written options transactions | Net realized gains/(losses) from purchased options transactions | Net realized gains/(losses) from foreign currency transactions | Net realized gains/(losses) from swap transactions | |||||||||||||||
Commodity Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | $ | (5,089 | ) | $ | 30 | $ | — | $ | — | $ | (6,358 | ) | ||||||||
Interest Rate Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | 199 | 342 | — | — | (628 | ) | ||||||||||||||
Commodity Portfolio | 19 | 93 | — | — | — |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result from Operations | ||||||||||||||||||||
Fund | Change in unrealized appreciation/ (depreciation) on futures | Change in unrealized appreciation/ (depreciation) on written options | Change in unrealized appreciation/ (depreciation) on purchased options | Change in unrealized appreciation/ (depreciation) on foreign currency translations | Change in unrealized appreciation/ (depreciation) on swaps | |||||||||||||||
Equity Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | $ | 2,529 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Emerging Markets Portfolio | (175 | ) | — | — | — | — | ||||||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | 5,517 | — | (1 | ) | 326 | — | ||||||||||||||
Commodity Portfolio | — | — | — | 2,279 | — | |||||||||||||||
International Portfolio | (40 | ) | — | — | 277 | — | ||||||||||||||
Institutional International Portfolio | (75 | ) | — | — | 495 | — | ||||||||||||||
Emerging Markets Portfolio | (29 | ) | — | — | (179 | ) | — | |||||||||||||
Commodity Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 7,732 | 128 | — | — | 7,207 | |||||||||||||||
Interest Rate Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | (502 | ) | 45 | — | — | 66 | ||||||||||||||
Commodity Portfolio | — | 16 | (149 | ) | — | (134 | ) |
Amounts designated as “—” are $0 or have been rounded to $0.
Effective January 1, 2013, the Trust adopted Financial Accounting Standards Board Accounting Standards Update (“ASU”) No. 2013-01 “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities” (“ASU 2013-01”) which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 “‘Disclosures about Offsetting Assets and Liabilities” (“ASU 2011-11”). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity’s financial statements to understand the effect of those arrangements on its financial position. The objective of this disclosure is to facilitate comparison between those entities that prepare their financial statements on the basis of U.S. GAAP and those entities that prepare their financial statements on the basis of International Financial Reporting Standards. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities
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lending transactions that are offset either in accordance with other requirements of U.S. GAAP or subject to an enforceable master netting arrangement or similar agreement.
The Trust is generally subject to master netting agreements (“MNA”) that allow for amounts owed between the Portfolio and the counterparty to be netted. The party that has the larger payable pays the excess of the larger amount over the smaller amount to the other party. The MNA do not apply to amounts owed to/from different counterparties. The amounts shown in the Statement of Assets and Liabilities do not take into consideration the effects of legally enforceable MNA. The table below presents the gross and net amounts of these assets and liabilities with any offsets to reflect the Portfolio’s ability to reflect the master netting agreements at December 31, 2013. For financial reporting purposes, the Portfolios do not offset derivative assets and derivative liabilities that are subject to MNA in the Statement of Assets and Liabilities. This table also summarizes the fair values of derivative instruments on the Portfolio’s Statement of Assets and Liabilities, categorized by risk exposure, as of December 31, 2013.
The following table presents the Portfolios' derviative assets by counterparty, net of amounts available for offset under a MNA and net of the related collateral received by the Portfolios as of December 31, 2013.
Gross Amounts Not Offset in the Statements of Assets and Liabilities | ||||||||||||||||||||
Portfolio - Specialist Manager | Gross Asset as presented in the Statement of Assets and Liabilities (000) | Gross (Liability) as presented in the Statement of Assets and Liabilities (000) | Net Amount (000) | Financial Instrument Received (Pledged) (000)* | Cash Collateral Received (Pledged) (000)* | |||||||||||||||
Intstitutional Growth Portfolio - PIMCO | ||||||||||||||||||||
Option Contracts – Citibank North America | $ | — | $ | (21 | ) | $ | (21 | ) | $ | — | $ | — | ||||||||
Option Contracts – Morgan Stanley | — | (23 | ) | (23 | ) | — | — | |||||||||||||
Commodity Portfolio – PIMCO | ||||||||||||||||||||
Swap Agreement – Royal Bank of Canada | $ | — | $ | (4 | ) | $ | (4 | ) | $ | — | $ | — | ||||||||
Option Contracts – Credit Suisse | — | (12 | ) | (12 | ) | — | — | |||||||||||||
Swap Agreements – Deutsche Bank | 91 | (603 | ) | (512 | ) | — | (512 | ) | ||||||||||||
Option Contracts – Deutsche Bank | — | (12 | ) | (12 | ) | — | — | |||||||||||||
Swap Agreements – Goldman Sachs International | 56 | (10 | ) | 46 | 46 | — | ||||||||||||||
Option Contracts – Goldman Sachs International | — | (4 | ) | (4 | ) | — | — | |||||||||||||
Swap Agreements – JPMorgan Chase | 16 | (315 | ) | (299 | ) | (299 | ) | — | ||||||||||||
Commodity Portfolio – Wellington Management Co. | ||||||||||||||||||||
Swap Agreements – JPMorgan Chase | $ | — | $ | (167 | ) | $ | (167 | ) | $ | — | $ | — |
* | The actual financial instruments and cash collateral (received)/pledged may be in excess of the amounts shown in the table. |
The table only reflects collateral amounts up to the amount of the financial instrument disclosed on the Statements of Assets and Liabilities.
Forward Currency Contracts: Certain of the Portfolios may be subject to currency exchange rate risk in the normal course of pursuing their investment objectives. A Portfolio enters into forward currency contracts (“forward contracts”) for the purpose of hedging exposure to changes in foreign currency exchange rates on its holdings. A forward contract is an agreement between two parties to buy and sell a currency at a set price on a future date. The value of the forward contract fluctuates with changes in currency exchange rates. The forward contract is marked-to-market daily and the change in value is recorded by the Portfolio as unrealized appreciation or depreciation. When the forward contract is closed, the Portfolio records a realized gain or loss equal to the
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fluctuation in value during the period the forward contract was open. The Portfolio could be exposed to credit risk if a counterparty is unable to meet the terms of a forward contract, or market risk if the value of the currency changes unfavorably.
Forward contracts may involve credit or market risk in excess of the amounts reflected on the Portfolio’s Statement of Assets and Liabilities. The gain or loss from the difference between the cost of original contracts and the amount realized upon the closing of such forward contracts is included in net realized gains or losses on foreign currency transactions. Fluctuations in the value of forward contracts held at December 31, 2013 are recorded for financial reporting purposes as net unrealized gains or losses by the Portfolio. In addition, at December 31, 2013, the Portfolios entered into currency contracts to settle trades in foreign currencies. These transactions are included in the Statements of Assets and Liabilities as “Receivable from investments sold” and “Payable from investments purchased.” The amount of the forward contracts outstanding as of December 31, 2013 and the month-end average contract amount for all forward contracts during the period ending December 31, 2013 are detailed in the table below:
Portfolio | Average Month-End Notional Amount (000) | Forwards Amount Outstanding at December 31, 2013 (000) | ||||||
Institutional Growth Portfolio. | $ | 37,688 | $ | 30,772 | ||||
Commodity Portfolio | 22,706 | 24,718 | ||||||
International Portfolio | 4,952 | 11,951 | ||||||
Institutional International Portfolio | 11,436 | 35,388 | ||||||
Emerging Markets Portfolio | 71,162 | 89,867 |
Financial Futures Contracts: Certain of the Portfolios may be subject to equity price risk, interest rate risk, commodity price risk and foreign currency exchange rate risk in the normal course of pursuing their investment objectives. Certain of the Portfolios may invest in financial futures contracts (“futures contracts”) as part of their investment strategies, to gain exposure to or hedge against changes in the value of equities, interest rates or foreign currencies. The Commodity Portfolio may invest in commodity-linked futures contracts to gain exposure to the commodities market. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. Upon entering into a futures contract, a Portfolio is required to pledge to the broker an amount of cash and/or other assets equal to a certain percentage of the contract amount (initial margin deposit). Subsequent payments, known as “variation margin,” are made or received by a Portfolio each day, depending on the daily fluctuations in the value of the underlying financial instrument. A Portfolio recognizes a gain or loss equal to the daily variation margin, which is recorded as a receivable or payable on the Statement of Assets and Liabilities (if applicable). When a futures contract is closed, a realized gain or loss is recorded as “Net realized gains/ (losses) from futures transactions” on the Statement of Operations. Should market conditions move unexpectedly, the Portfolio may not achieve the anticipated benefits of the futures contracts and may realize a loss. The use of futures transactions involves the risk of an imperfect correlation in movements in the price of futures contracts, interest rates, and the underlying hedged assets. With futures contracts, there is minimal counterparty credit risk to the Portfolios since futures contracts are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange-traded futures contracts, guarantees the futures contracts against default. Securities designated as collateral for market value on futures contracts are noted in each Portfolio’s Portfolio of Investments (if applicable). Such collateral is held with the Trust’s custodian. The notional value of the futures contracts outstanding at December 31, 2013 and the month-end average notional amount for the period ending December 31, 2013 are detailed in the table below:
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Portfolio | Average Month-End Notional Amount (000) | Notional Amount of Futures Contracts Outstanding at December 31, 2013 (000) | ||||||
Institutional Growth Portfolio | $ | 218,546 | $ | 252,776 | ||||
Small Cap–Mid Cap Portfolio | 82 | — | ||||||
Commodity Portfolio | 246,144 | 254,994 | ||||||
International Portfolio | 188 | — | ||||||
Institutional International Portfolio | 245 | — | ||||||
Emerging Markets Portfolio | 8,192 | 5,679 |
Options Contracts — Purchased Options Contracts: Certain of the Portfolios may be subject to equity price risk and interest rate risk in the normal course of pursuing their investment objectives. In order to reduce such risks and/or in anticipation of future purchases, including to achieve market exposure, pending direct investment in securities. Certain of the Portfolios may purchase put or call options. Options contracts provide the purchaser with the right, but not the obligation, to buy or sell (call or put option, respectively) a financial instrument at the exercise price. The Portfolio pays a premium which is included in “Investments, at value” on the Statement of Assets and Liabilities and marked-to-market to reflect the current value of the option. Premiums paid for purchasing options which expire are treated as realized losses. When an option is exercised or closed, premiums paid for purchasing options are offset against proceeds to determine the realized gain or loss on the transaction.
Options Contracts — Written Options Contracts: Certain of the Portfolios may be subject to equity price risk and interest rate risk in the normal course of pursuing their investment objectives. In order to reduce such risks and/or in anticipation of future purchases, including to achieve market exposure, pending direct investment in securities, certain of the Portfolios may write put or call options. Premiums received from written options contracts are recorded as liabilities and are subsequently adjusted to the current value of the options written. Premiums received from writing options which expire are treated as realized gains. Premiums received from writing options, which are either exercised or closed, are offset against the proceeds received or the amount paid on the transaction to determine realized gains or losses. Realized gains and losses are reported as “Net realized gains/(losses) from options transactions” on the Statement of Operations (if applicable). When writing an option, the Portfolio bears the market risk of unfavorable changes in the price of the underlying instrument.
With exchange-traded options, there is minimal counterparty credit risk to the Portfolios since the exchange’s clearinghouse, as counterparty to all exchange-traded options, guarantees the options against default. With over-the-counter options, the Portfolios bear the risk that counterparties will be unable to perform under the terms of the contracts.
The Institutional Growth Portfolio and Commodity Portfolio had the following transactions in written call and put options during the period ending December 31, 2013:
Institutional Growth Portfolio | Number of Contracts | Premiums Received (000) | ||||||
Options outstanding at June 30, 2013 | (4,002 | ) | $ | (314 | ) | |||
Options purchased | (4,571,424 | ) | (121 | ) | ||||
Options expired | 2,288,307 | 328 | ||||||
Options closed | 2,285,791 | 59 | ||||||
Options outstanding at December 31, 2013 | (1,328 | ) | $ | (48 | ) |
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Commodity Portfolio | Number of Contracts | Premiums Received (000) | ||||||
Options outstanding at June 30, 2013 | (1,261 | ) | $ | (454 | ) | |||
Options purchased | (3,292 | ) | (272 | ) | ||||
Options expired | 2,319 | 266 | ||||||
Options closed | 644 | 85 | ||||||
Options outstanding at December 31, 2013 | (1,590 | ) | $ | (375 | ) |
Swap Agreements: Certain of the Portfolios may enter into swap agreements (“swap”) for purposes of attempting to gain exposure to the securities making up an index without actually purchasing those instruments, to hedge a position or to gain exposure to a particular instrument or currency. A swap is a two-party contract entered into for periods ranging from one day to more than one year. In a standard swap transaction, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount,” i.e., the return on or increase in value of a particular dollar amount invested in a “basket” of securities representing a particular index.
Interest Rate Swaps: Certain of the Portfolios are subject to interest rate risk exposure in the normal course of pursuing their investment objectives. Because certain Portfolios hold fixed-rate bonds, the value of these bonds may decrease if interest rates rise. In order to reduce such risks, certain Portfolios may enter into interest rate swaps. Interest rate swaps involve the exchange of commitments to pay and receive a fixed or floating rate of interest based on a notional principal amount. The risks of interest rate swaps include changes in market conditions which will affect their value or the cash flows and the possible inability of the counterparty to fulfill its obligations under the agreement. A Portfolio’s maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from the counterparty over the swap’s remaining life. Net periodic interest payments to be received or paid are accrued daily and are recorded as realized gains or losses on the Statements of Operations.
Total Return Swaps: Certain of the Portfolios are subject to equity price risk in the normal course of pursuing their investment objectives. In order to reduce such risks, certain Portfolios may enter into total return swaps to gain or mitigate exposure to the underlying securities or indices. In “long” total return swaps, the counterparty will generally agree to pay the Portfolio the amount, if any, by which the notional amount of the swaps would have increased in value had it been invested in the particular instruments, plus an amount equal to any dividends or interest that would have been received on those instruments. The Portfolio will agree to pay to the counterparty an amount equal to a fixed or floating rate of interest on the notional amount of the swaps plus the amount, if any, by which the notional amount would have decreased in value had it been invested in such instruments plus, in certain instances, commissions or trading spreads on the notional amount. Total return swaps do not involve the delivery of securities or other underlying instruments. The net amount of the excess, if any, of a Portfolio’s obligations over its entitlements with respect to each swap is accrued on a daily basis and an amount of cash or liquid assets, having an aggregate net asset value at least equal to such accrued excess, is maintained at the broker-dealer or the Portfolio’s custodian. Until a total return swap is settled in cash, the gain or loss on the notional amount plus dividends or interest on the instruments less the interest paid by the Portfolio on the notional amount are recorded as “unrealized appreciation or depreciation on swap agreements” and when cash is exchanged, the gain or loss realized is recorded as “realized gains or losses on swap transactions.” A Portfolio may enter into total return swaps that provide the opposite return of its benchmark index or security (“short” the index or security). Its operations are similar to those swaps disclosed above except that the counterparty pays interest to the Portfolio on the notional amount outstanding and that dividends or interest on the underlying instruments reduce the value of the swaps plus, in certain instances, the Portfolio will agree to pay to the counterparty commissions or trading spreads on the notional amount. These amounts are netted against any unrealized appreciation or depreciation to determine the value of the swaps.
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Variance Swaps: Certain of the Portfolios may invest in variance swaps to gain or mitigate exposure to the underlying reference securities. Variance swaps involve two parties agreeing to exchange cash flows based on the measured variance (or square of the volatility) of a specified underlying asset. One party agrees to exchange a “fixed rate” or strike price payment for the “floating rate” or realized price variance on the underlying asset with respect to the notional amount. At inception, the strike price is generally chosen such that the fair value of the swaps is zero. At the maturity date, a net cash flow is exchanged, where the payoff amount is equivalent to the difference between the realized price variance of the underlying asset and the strike price multiplied by the notional amount. As a receiver of the realized price variance, a Portfolio would receive the payoff amount when the realized price variance of the underlying asset is greater than the strike price and would owe the payoff amount when the variance is less than the strike price. As a payer of the realized price variance, a Portfolio would owe the payoff amount when the realized price variance of the underlying asset is greater than the strike price and would receive the payoff amount when the variance is less than the strike price. This type of swap is essentially a forward contract on the future realized price variance of the underlying asset.
The primary risks associated with the use of swaps are an imperfect correlation between the price of financial instruments and movements in the prices of the underlying investments and the inability of counterparties to perform under the agreement. The counterparty to any swap agreement will typically be a bank, investment banking firm or broker-dealer. The Portfolio will bear the counterparty risk, i.e., risk of loss of the net amount, if any, expected to be received under a swap in the event of the default or bankruptcy of the swap counterparty. The unrealized gain or loss at December 31, 2013 is disclosed in the swap tables included in the Portfolios of Investments. The notional value of the swap agreements outstanding at December 31, 2013 and the month-end average notional amount for the period ending December 31, 2013 are detailed in the table below:
Portfolio | Average Month-End Notional Amount (000) | Notional Amount of Futures Contracts Outstanding at December 31, 2013 (000) | ||||||
Institutional Growth Portfolio | $ | 47,410 | $ | 46,760 | ||||
Commodity Portfolio | 210,017 | 223,907 |
L. Bank Loans. Certain Portfolios may invest in bank loans, which generally have interest rates which are reset daily, monthly, quarterly or semiannually by reference to a base lending rate plus a premium. These base rates are primarily the London-Interbank Offered Rate, and secondarily the prime rate offered by one or more major U. S. banks and the certificate of deposit rate or other base lending rates used by commercial lenders. Bank loans often require prepayments from excess cash flows or allow the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. Therefore, the anticipated or actual maturity may be considerably earlier than the stated maturity shown in the Portfolio of Investments.
All or a portion of any bank loans may be unfunded. The Portfolio is obligated to fund any commitments at the borrower’s discretion. Therefore, the Portfolio must have funds sufficient to cover its contractual obligation. These unfunded loan commitments, which are marked-to-market daily, are presented in the Portfolio of Investments. As of December 31, 2013, the Fixed Opportunity Portfolio invested in bank loans, which are presented in the Portfolio’s Portfolio of Investments.
M. Basis for Consolidation for the Commodity Portfolio. The HC Commodity Related Securities Fund, Ltd. and the HC Commodity Related Securities Fund II, Ltd. (the “Funds”) are incorporated as Cayman Islands exempted companies. The Funds are wholly-owned subsidiaries of the Commodity Portfolio and act as investment vehicles for the Commodity Portfolio for the purpose of effecting certain commodity-linked investments consistent with its
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investment objectives. The Funds may invest in commodity-linked derivative instruments including options, futures and swaps. The Funds may also invest in debt securities, some of which are intended to serve as margin or collateral for the Funds’ derivative positions.
Under the Articles of Association each of the Funds, shares issued by the Funds give the Commodity Portfolio, as the sole shareholder, the right to receive notice of, to attend, and to vote at general meetings of the Funds, the right to participate in the profits of the Funds and rights to the assets of the Funds in the event that they are liquidated. As of December 31, 2013, the Commodity Portfolio’s aggregate investment in the Funds was $103,729,072, representing 9.76% of the Commodity Portfolio’s net assets.
The Commodity Portfolio’s investments in these Funds have been consolidated and include the portfolio holdings of the underlying Funds. The consolidated financial statements include the accounts of the Commodity Portfolio and the Funds. All intercompany transactions and balances have been eliminated.
3. INVESTMENT ADVISORY AND ADMINISTRATIVE CONTRACTS. The Trust has entered into investment advisory contracts (“Portfolio Management Contracts”) on behalf of each of the Portfolios with one or more investment management organizations (each, a “Specialist Manager”). For the Portfolio(s) it serves, each Specialist Manager is responsible for providing a continuous program of investment management for that portion of the Portfolio allocated to it and for placing all orders for the purchase and sale of securities and other instruments for such portion of the Portfolio. Except as noted, each Specialist Manager earns a fee, accrued daily and paid either monthly or quarterly, based on average daily net assets of that portion of the Portfolio managed.
For the period ending December 31, 2013, the Portfolios incurred the following investment advisory fees, before any applicable fee waivers, with respect to the services of the indicated Specialist Manager(s). The following annual fee rates are applied to the portions of the Portfolios that are managed by the Specialist Managers in determining amounts earned, except as footnoted.
Value Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Institutional Capital, LLC | $ | 202 | 0.35 | % | ||||
AllianceBernstein L.P. | 314 | 0.34 | %(a) | |||||
Cadence Capital Management, LLC | 85 | 0.065 | %(b) | |||||
Mellon Capital Management Corporation | — | 0.065 | %(c)(d) | |||||
$ | 601 | 0.19 | % |
Institutional Value Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Institutional Capital, LLC | $ | 303 | 0.35 | % | ||||
AllianceBernstein L.P. | 453 | 0.34 | %(a) | |||||
Cadence Capital Management, LLC | 119 | 0.065 | %(b) | |||||
Pacific Investment Management Company LLC | — | 0.25 | %(c) | |||||
Mellon Capital Management Corporation | — | 0.065 | %(c)(d) | |||||
$ | 875 | 0.20 | % |
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Growth Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Jennison Associates LLC | $ | 287 | 0.28 | %(e) | ||||
Mellon Capital Management Corporation | 112 | 0.065 | %(d) | |||||
Sustainable Growth Advisers | 225 | 0.35 | % | |||||
Cadence Capital Management, LLC | — | 0.065 | %(b)(c) | |||||
$ | 624 | 0.17 | % |
Institutional Growth Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Jennison Associates LLC | $ | 365 | 0.28 | %(e) | ||||
Mellon Capital Management Corporation | 184 | 0.065 | %(d) | |||||
Sustainable Growth Advisers | 128 | 0.35 | % | |||||
Pacific Investment Management Company LLC | 194 | 0.25 | % | |||||
Cadence Capital Management, LLC | — | 0.065 | %(b)(c) | |||||
$ | 871 | 0.15 | % |
Small Cap–Mid Cap Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Frontier Capital Management Company, LLC | $ | 62 | 0.45 | % | ||||
Mellon Capital Management Corporation | 12 | 0.065 | %(d) | |||||
IronBridge Capital Management LP | 93 | 0.95 | % | |||||
Pzena Investment Management, LLC | 92 | 1.00 | % | |||||
Cupps Capital Management, LLC | — | 0.85 | %(c) | |||||
Cadence Capital Management, LLC | — | 0.065 | %(b)(c) | |||||
Ariel Investments, LLC | — | N/A%(c)(f) | ||||||
$ | 259 | 0.47 | % |
Institutional Small Cap–Mid Cap Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Frontier Capital Management Company, LLC | $ | 103 | 0.45 | % | ||||
Mellon Capital Management Corporation | 8 | 0.065 | %(d) | |||||
IronBridge Capital Management LP | 160 | 0.95 | % | |||||
Pzena Investment Management, LLC | 131 | 1.00 | % | |||||
Cupps Capital Management, LLC | 87 | 0.85 | % | |||||
Cadence Capital Management, LLC | — | 0.065 | %(b)(c) | |||||
Ariel Investments, LLC | — | N/A%(c)(f) | ||||||
$ | 489 | 0.62 | % |
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Real Estate Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Wellington Management Company, LLP | $ | 293 | 0.71 | %(g) | ||||
Mellon Capital Management Corporation | — | 0.10 | %(c)(h) | |||||
Cadence Capital Management, LLC | — | 0.10 | %(c)(i) | |||||
$ | 293 | 0.71 | % |
Commodity Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Wellington Management Company, LLP | $ | 1,360 | 0.85 | %(j) | ||||
Wellington Management Company, LLP | 701 | 0.75 | %(k) | |||||
Pacific Investment Management Company LLC | 457 | 0.49 | % | |||||
Mellon Capital Management Corporation | 139 | 0.10 | %(c)(h) | |||||
Cadence Capital Management, LLC | — | 0.10 | %(c)(i) | |||||
$ | 2,657 | 0.53 | % |
International Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Artisan Partners Limited Partnership | $ | 687 | 0.47 | %(l) | ||||
Capital Guardian Trust Company | 608 | 0.33 | %(m) | |||||
Causeway Capital Management LLC | 656 | 0.45 | % | |||||
Mellon Capital Management Corporation | 60 | 0.13 | %(n) | |||||
Cadence Capital Management, LLC | — | 0.13 | %(c)(o) | |||||
Mellon Capital Management Corporation | — | 0.10 | %(c)(p) | |||||
Cadence Capital Management, LLC | 214 | 0.10 | %(q) | |||||
$ | 2,225 | 0.29 | % |
Institutional International Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Artisan Partners Limited Partnership | $ | 1,046 | 0.47 | %(l) | ||||
Capital Guardian Trust Company | 849 | 0.33 | %(m) | |||||
Causeway Capital Management LLC | 972 | 0.45 | % | |||||
Lazard Asset Management LLC | 556 | 0.42 | %(r) | |||||
Mellon Capital Management Corporation | 106 | 0.13 | %(n) | |||||
Cadence Capital Management, LLC | — | 0.13 | %(c)(0) | |||||
Mellon Capital Management Corporation | — | 0.10 | (c)(p) | |||||
Cadence Capital Management, LLC | 367 | 0.10 | (q) | |||||
$ | 3,896 | 0.29 | % |
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Emerging Markets Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
SSgA Funds Management, Inc.* | $ | 1,472 | 0.73 | %(s) | ||||
Mellon Capital Management Corporation | 259 | 0.13 | %(n) | |||||
Boston Company Asset Management, LLC | 1,567 | 0.71 | %(t) | |||||
Cadence Capital Management, LLC | — | 0.13 | %(c)(o) | |||||
$ | 3,298 | 0.53 | % |
Core Fixed Income Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Seix Investment Advisors LLC | $ | 37 | 0.22 | %(u) | ||||
Mellon Capital Management Corporation | 11 | 0.06 | %(v) | |||||
Mellon Capital Management Corporation | 8 | 0.15 | %(w) | |||||
$ | 56 | 0.15 | % |
Fixed Opportunity Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Capital Management Corporation | $ | 123 | 0.25 | % | ||||
Fort Washington Investment Advisors, Inc. | 652 | 0.20 | %(x) | |||||
Pacific Investment Management Company LLC | — | 0.45 | %(c) | |||||
$ | 775 | 0.18 | % |
U.S. Government Fixed Income Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Capital Management Corporation | $ | 77 | 0.06 | % |
U.S. Corporate Fixed Income Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Seix Investment Advisors LLC | $ | 245 | 0.22 | %(u) | ||||
Mellon Capital Management Corporation | — | 0.15 | % | |||||
$ | 245 | 0.22 | % |
U.S. Mortgage/Asset Backed Fixed Income Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Capital Management Corporation | $ | 75 | 0.06 | % |
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Short-Term Municipal Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Breckinridge Capital Advisors, Inc | $ | 14 | 0.125 | % |
Intermediate Municipal Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Standish Mellon Asset Management Company | $ | 364 | 0.17 | %(y) |
Intermediate Municipal II Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Breckinridge Capital Advisors, Inc | $ | 47 | 0.125 | % |
* | SSgA Funds Management, Inc. (“SSgA FM”) is an affiliate of State Street Bank and Trust Company, the custodian to the Trust. |
(a) | Effective October 1, 2013, AllianceBernstein L.P. (“AllianceBernstein”) receives a fee, which shall be payable monthly in arrears, of 0.37% of the average daily net assets of the first $150 million of the Combined Assets (as defined below), 0.35% of the next $150 million of Combined Assets and 0.29% of the Combined Assets exceeding $300 million. |
Prior to October 1, 2013, AllianceBernstein received a fee of 0.38% of the average daily net assets of the first $300 million of the Combined Assets and 0.37% of the Combined Assets exceeding $300 million. Alliance Bernstein contractually agreed to waive the portion of the fee to which it was entitled that exceeded 0.31% of the average daily net asset value of the Combined Assets. The amounts waived are disclosed on the Statements of Operations. For the six months ending December 31, 2013, the Value Portfolio and the Institutional Value Portfolio paid AllianceBernstein $285,123 and $413,416, respectively.
“Combined Assets” shall mean the sum of: the average net assets of the portion of the Value Portfolio managed by AllianceBernstein, the average net assets of the portion of the Institutional Value Portfolio managed by AllianceBernstein, and assets invested in the same investment strategy as the Portfolio that are managed by AllianceBernstein for certain other clients of the Trust’s primary adviser.
(b) | Cadence Capital Management LLP (“Cadence”) receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.065% of the average daily net assets of the portion of the Portfolio managed by Cadence. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.075% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Cadence in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Cadence in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(c) | Specialist manager approved by the Board but to which no assets were allocated during the period ending December 31, 2013. |
(d) | Mellon Capital Management Corporation (“Mellon”) receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at |
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the annual rate of 0.065% of the average daily net assets of the portion of the Portfolio managed by Mellon. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.075% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Mellon in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(e) | Jennison Associates LLC (“Jennison”) is entitled to receive an annual fee of no more than 0.30% of average daily net assets of that portion of the Growth Portfolio and Institutional Growth Portfolio allocated to Jennison (the “Jennison Accounts”). While the rate at which Jennison’s fee for managing the Portfolios will not exceed 0.30%, the fee may decrease based on the aggregate market value of the Jennison Accounts and certain other assets managed by Jennison (which may pay fees exceeding 0.30%) for the benefit of certain investors who are clients of the Trust’s primary adviser at the following annual rates: |
— 0.75% on the first $10 million;
— 0.50% on the next $30 million;
— 0.35% on the next $25 million;
— 0.25% on the next $335 million;
— 0.22% on the next $600 million;
— 0.20% on the next $4 billion; and
— 0.25% on the balance
(f) | For its services to the Small Cap–Mid Cap Portfolio and the Institutional Small Cap–Mid Cap Portfolio, Ariel Investments, LLC (“Ariel”) will be paid an annual fee, calculated daily and payable quarterly, in arrears, based on the Combined Assets (as defined below), in accordance with the following schedule: 1.00% of the first $10 million of the Combined Assets, 0.75% of the next $10 million of Combined Assets and 0.50% of the Combined Assets exceeding $20 million. Ariel did not manage assets for either of these Portfolios during the periods shown in the table. |
“Combined Assets” shall mean the sum of: the net assets managed by Ariel in the Small Cap-Mid Cap Portfolio, the Institutional Small Cap-Mid Cap Portfolio and the net assets invested in the same strategy as the Portfolios that are managed by Ariel for the benefit of certain investors who are clients of certain affiliates of the Trust’s primary adviser.
(g) | Wellington Management Company, LLP (“Wellington”) receives a fee, which shall be payable monthly in arrears of 0.75% of the average daily net assets of the first $50 million of the Combined Assets (as defined below). On Combined Assets over $50 million, the fee shall be at the annual rate of 0.65% of the Combined Assets. “Combined Assets” shall mean the sum of: the net assets of the Real Estate Portfolio and assets invested in the same investment strategy as the Portfolio that are managed by Wellington for certain other clients of the Trust’s primary adviser. |
(h) | Mellon receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.10% of the average daily net assets of the portion of the Portfolio managed by Mellon. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.11% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Mellon in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional
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International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(i) | Cadence receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.10% of the average daily net assets of the portion of the Portfolio managed by Cadence. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.11% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Cadence in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Cadence in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(j) | With respect to its Global National Resources Strategy (“GNRS”), Wellington is entitled to receive a fee, which shall be payable monthly in arrears at the annual rate of 0.85%, so long as at least $50 million in assets are present in the GNRS and 1.00% if less than $50 million in assets are present in the GNRS. |
(k) | With respect to its Commodity Futures Strategy, Wellington is entitled to receive a fee, which shall be payable monthly in arrears at the annual rate of 0.75% of the average daily net assets of the Commodity Futures Strategy. |
(l) | Artisan Partners Limited Partnership (“Artisan”) receives a fee, which shall be payable monthly in arrears within 30 days after each month end. For so long as the Combined Assets (as defined below) are greater than $500 million, the fee shall be at the annual rate of 0.47% of the average daily net assets of the Portfolios. If the Combined Assets are reduced to $500 million or less, the fee shall be calculated based on average daily net assets of the Portfolios at the following annual rates: |
— 0.80% on assets up to $50 million;
— 0.60% on assets from $50 million to $100 million; and
— 0.70% on assets in excess of $100 million
“Combined Assets” shall mean the sum of: the net assets of the International Portfolio managed by Artisan and the net assets of the Institutional International Portfolio managed by Artisan.
(m) | Capital Guardian Trust Company (“CapGuardian”) receives a fee, which shall be payable quarterly in arrears in accordance with the following annual rates. The minimum annual fee (based on an account size of $50 million) is $312,500. |
— 0.70% on the first $25 million;
— 0.55% on the next $25 million;
— 0.425% on the next $200 million; and
— 0.375% on the balance
When the total aggregated fees exceed $3 million, before discounts (as set forth below), fee break points are to be eliminated and the Portfolio will pay its fee at an annual rate of 0.375% on all assets in the Portfolio managed by CapGuardian.
The following fee discounts will be applied based upon the total annualized aggregate fees, which include fees from separate accounts, pooled investments vehicles, and funds with internally charged fees managed by The Capital Group Companies, Inc. The resulting discount percentage will be applied to each account’s fees (excluding fees related to investments in funds with internally charged fees):
— 5% discount on fees from $1.25 million to $4 million;
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— 7.5% discount on fees from $4 million to $8 million;
— 10% discount on fees from $8 million to $12 million; and
— 12.5% discount on fees over $12 million
(n) | With respect to the emerging markets portion of the portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.13% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.15% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Mellon in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon in other investment advisory accounts for which HC Capital Solutions or one of its affiliates serves as investment adviser.
(o) | With respect to the emerging markets portion of the Portfolio managed by Cadence, Cadence receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.13% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.15% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Cadence in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Cadence in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(p) | With respect to the developed markets portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.10% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.11% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Mellon in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(q) | With respect to the developed markets portion of the Portfolio managed by Cadence, Cadence receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.10% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.11% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Cadence in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Cadence in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(r) | Effective October 1, 2013, Lazard Asset Management LLC (“Lazard”) receives a fee which shall be payable monthly in arrears of 0.40% of the average daily net assets of the first $75 million and 0.35% on the excess over $75 million |
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Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
of that portion of the Portfolio managed by Lazard. Prior to October 1, 2013, Lazard received a fee of 0.45% of the average daily net assets of the first $100 million, 0.40% of the next $150 million and 0.0375% on the excess over $250 million. |
(s) | SSgA FM receives a fee based on the average daily net assets of that portion of the Portfolio managed by SSgA, which shall be payable monthly in arrears at the annual rate of 0.85% for the first $50 million in such assets, 0.75% for the next $50 million in assets and 0.70% for those assets in excess of $100 million. |
(t) | Boston Company Asset Management, LLC (“Boston Company”) receives an annual fee of 0.90% of the average daily net assets of the first $50 million; 0.85% of the average daily net assets on the next $50 million; 0.70% of the average daily net assets on the next $100 million; and 0.60% of the average daily net assets over $200 million of that portion of the Portfolio managed by Boston Company. |
(u) | Seix Investment Advisors LLC (“Seix”), receives a fee, which shall be calculated daily and payable monthly in arrears at the annual rate of 0.25% of the first $100 million of the Combined Assets (as defined below) and 0.20% of the Combined Assets exceeding $100 million. “Combined Assets” shall mean the sum of: the net assets managed by Seix in the Core Fixed Income Portfolio and the net assets managed by Seix in the U.S. Corporate Fixed Income Portfolio. |
(v) | Mellon Capital Management Corporation (“Mellon”) receives a fee which shall be calculated daily and payable monthly at the annual rate of 0.06% of the average daily net assets of the U.S. mortgage- and asset-backed securities portion of the Core Fixed Income Portfolio managed by Mellon. Mellon also receives a fee at the annual rate of 0.06% of the average daily net assets of the U.S. Government Fixed Income Portfolio and the U.S. Mortgage/Asset Backed Fixed Income Portfolio. |
(w) | Mellon Capital Management Corporation (“Mellon”) receives a fee which shall be calculated daily and payable monthly at the annual rate of 0.15% of the average daily net assets of the U.S. corporate fixed-income securities portion of the Core Fixed Income Portfolio managed by Mellon. Mellon also receives a fee at the annual rate of 0.15% of the average daily net assets of the portion of the U.S. Corporate Fixed Income Portfolio managed by Mellon. |
(x) | Fort Washington Investment Advisors, Inc. (“Fort Washington”) receives a fee, which shall be payable monthly in arrears. For so long as the Combined Assets (as defined below) are greater than $200 million, the fee shall be at the annual rate of 0.20% of the Combined Assets. If the Combined Assets are reduced to $200 million or less due to withdrawals or redemptions, beginning with the first calendar quarter following the date of such withdrawals or redemptions, the fee shall be based on 0.40% of the Combined Assets of the first $25 million, 0.375% of the Combined Assets of the next $25 million, 0.3375% of the Combined Assets of the next $50 million, and 0.25% of the Combined Assets of the next $100 million. |
“Combined Assets” shall mean the sum of: the average daily net assets managed by Fort Washington in the Portfolio and the net assets invested in the same strategy as the Portfolio that are managed by Fort Washington for the benefit of certain investors who are clients of the Trust’s primary adviser.
(y) | Standish Mellon Asset Management Company (“Standish Mellon”) receives a fee, which shall be calculated daily and payable quarterly, at an annual rate of 0.25% for the first $100 million of the Combined Assets (as defined below) and 0.15% of the Combined Assets exceeding $100 million. Standish Mellon is entitled to receive a fee at an annual rate not to exceed 0.20% of the Combined Assets. |
“Combined Assets” shall mean the sum of: the net assets managed by Standish Mellon in the Portfolio and the net assets invested in the same strategy as the Portfolio that are managed by Standish Mellon for the benefit of certain investors who are clients of the Trust’s primary adviser.
Pursuant to discretionary investment advisory agreements between the Trust and the Adviser, the Adviser is paid a fee which is accrued daily and paid monthly at an annual rate of 0.05% of average daily net assets per Portfolio. The fees that the Adviser receives are listed as “Management fees” on the Statements of Operations. The Adviser continuously monitors the performance of various investment management organizations, including the Specialist Managers retained by the Trust, and generally oversees the services provided to the Trust by its administrator, custodian and other service providers. The Adviser is also authorized to allocate and reallocate assets among Specialist Managers in multi-manager portfolios of the Trust from time to time without additional authorization of the Trust’s Board. In addition, the Adviser
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Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
will make its officers available to serve as officers and/or Trustees of the Trust, and maintain office space sufficient for the Trust’s principal office. The Securities and Exchange Commission has issued an order that permits the Trust to enter into portfolio management agreements with Specialist Managers upon the approval of the Board but without submitting such contracts for the approval of the shareholders of the relevant Portfolio under certain circumstances.
Citi Fund Services Ohio, Inc. (“Citi”) is responsible for providing the Portfolios with administrative, fund accounting, dividend and capital gains disbursing agent and transfer agency services. Citi receives compensation for providing administration, fund accounting and transfer agency services at an all inclusive fee (“Omnibus Fee”) based on a percentage of each Portfolio’s average net assets. These amounts are disclosed as “Administrative service fees” on the Statements of Operations. The Omnibus Fee is accrued daily and payable on a monthly basis at an annual rate of 0.054% of the Trust’s Portfolios’ average daily net assets up to $6 billion; 0.005% of the Trust’s Portfolios’ average daily net assets between $6 billion and $12 billion; and 0.0295% in excess of $12 billion. As such, the Trust paid an aggregate amount of $2,204,424 to Citi for the period ending December 31, 2013.
The Trust has adopted a Distribution Plan for the Advisors Shares under which the Adviser may receive compensation for distribution services. Under the Distribution Plan, which was adopted pursuant to Rule 12b-1 under the 1940 Act, the Adviser is entitled to receive a fee of up to 0.25% annually of the average daily net assets attributable to the Advisors Shares. Currently, the Adviser is voluntarily waiving all fees associated with the Distribution Plan, and there is no current intention to collect such a fee.
Unified Financial Securities, Inc. (“Unified”), a wholly-owned subsidiary of Huntington Bancshares, Inc., serves as the Trust’s principal underwriter. Unified receives an annual fee of $50,000 for performing the services listed under its agreement with the Trust.
Alaric Compliance Services, LLC. (“Alaric”) provides an employee to serve as the Trust’s Chief Compliance Officer. For these services, Alaric is compensated $110,000 per year.
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Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
4. PURCHASE AND SALE TRANSACTIONS. The aggregate cost of purchases and proceeds from sales of investment securities, other than long-term U.S. Government securities, TBA securities and short-term securities, for the period ending December 31, 2013 were as follows (amounts in thousands):
Portfolio | Purchases | Sales | ||||||
Value Portfolio | $ | 132,715 | $ | 296,393 | ||||
Institutional Value Portfolio | 256,106 | 405,483 | ||||||
Growth Portfolio | 63,661 | 159,324 | ||||||
Institutional Growth Portfolio | 170,822 | 226,614 | ||||||
Small Cap–Mid Cap Portfolio | 17,455 | 38,971 | ||||||
Institutional Small Cap–Mid Cap Portfolio | 46,506 | 103,009 | ||||||
Real Estate Portfolio | 178,824 | 9,283 | ||||||
Commodity Portfolio | 192,196 | 143,431 | ||||||
International Portfolio | 295,837 | 350,349 | ||||||
Institutional International Portfolio | 716,966 | 691,435 | ||||||
Emerging Markets Portfolio | 432,076 | 228,923 | ||||||
Core Fixed Income Portfolio | 20,858 | 19,159 | ||||||
Fixed Opportunity Portfolio | 490,367 | 398,802 | ||||||
U.S. Government Fixed Income Portfolio | — | — | ||||||
U.S. Corporate Fixed Income Portfolio | 125,768 | 125,230 | ||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 6,288 | 6,132 | ||||||
Short-Term Municipal Portfolio | 4,011 | 941 | ||||||
Intermediate Municipal Portfolio | 72,503 | 96,393 | ||||||
Intermediate Municipal II Portfolio | 5,559 | 3,738 |
The aggregate cost of purchases and proceeds from sales of long-term U.S. Government securities for the period ending December 31, 2013, were as follows (amounts in thousands):
Portfolio | Purchases | Sales | ||||||
Institutional Growth Portfolio | $ | — | $ | 12,691 | ||||
Commodity Portfolio | 24,023 | 6,052 | ||||||
Core Fixed Income Portfolio | 14,594 | 10,128 | ||||||
U.S. Government Fixed Income Portfolio | 62,474 | 52,730 | ||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 31,594 | 28,171 |
5. FEDERAL INCOME TAXES. It is the policy of each Portfolio to continue to qualify as a regulated investment company by complying with the provisions available to certain investment companies, as defined in applicable sections of the Internal Revenue Code (the “Code”), and to make distributions of net investment income and net realized capital gains sufficient to relieve it (but not the shareholders) from all, or substantially all, federal income taxes. The Portfolios may utilize equalization accounting for tax purposes by designating earnings and profits, including net realized gains distributed to shareholders on redemption of shares, as a part of the dividends paid deduction for income tax purposes.
The Trust has evaluated tax positions taken or expected to be taken in the course of preparing each Portfolio’s tax returns to determine whether it is more likely than not (i.e., greater than 50-percent chance) that each tax position will be sustained upon examination by a taxing authority based on the technical merits of the position. A tax position that meets the more-likely-than-not recognition threshold is measured to determine the amount of benefit to recognize in the financial statements. Differences between tax positions taken in a tax return and amounts recognized in the financial
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Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
statements will generally result in an increase in a liability for taxes payable (or a reduction of a tax refund receivable), including the recognition of any related interest and penalties as an operating expense. Tax positions taken in tax years remain subject to examination by tax authorities (generally the last three tax year ends 2010 – 2012, and the interim tax period since then). The determination has been made that there are no uncertain tax positions that would require the Portfolios to record a tax liability and, therefore, there is no impact to the Portfolios’ financial statements. Furthermore, management of the Portfolios is not aware of any tax position for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next 12 months.
A. Unrealized Appreciation/Depreciation on securities (amounts in thousands):
Portfolio | Tax Cost of Securities | Tax Unrealized Appreciation | Tax Unrealized (Depreciation) | Net Tax Unrealized Appreciation/ (Depreciation) | ||||||||||||
Value Portfolio | 499,724 | 139,753 | (3,230 | ) | 136,523 | |||||||||||
Institutional Value Portfolio | 782,499 | 199,629 | (4,646 | ) | 194,983 | |||||||||||
Growth Portfolio | 533,417 | 293,008 | (1,100 | ) | 291,908 | |||||||||||
Institutional Growth Portfolio | 1,031,159 | 333,890 | (3,901 | ) | 329,989 | |||||||||||
Small Cap Portfolio | 89,477 | 37,944 | (1,730 | ) | 36,214 | |||||||||||
Institutional Small Cap-Mid Cap Portfolio | 131,234 | 50,090 | (1,719 | ) | 48,371 | |||||||||||
Real Estate Portfolio | 172,110 | 4,623 | (5,476 | ) | (853 | ) | ||||||||||
International Portfolio | 1,205,450 | 366,784 | (15,143 | ) | 351,641 | |||||||||||
Institutional International Portfolio | 2,345,755 | 551,212 | (24,395 | ) | 526,817 | |||||||||||
Emerging Markets Portfolio | 1,333,740 | 99,074 | (73,292 | ) | 25,782 | |||||||||||
Core Fixed Income Portfolio | 105,047 | 1,044 | (2,048 | ) | (1,004 | ) | ||||||||||
Fixed Opportunity Portfolio | 875,707 | 23,650 | (5,115 | ) | 18,535 | |||||||||||
U.S. Government Fixed Income Portfolio | 252,366 | 2,145 | (5,071 | ) | (2,926 | ) | ||||||||||
U.S. Corporate Fixed Income Portfolio | 223,866 | 2,982 | (5,143 | ) | (2,161 | ) | ||||||||||
U.S. Mortgage/Asset Backed Portfolio | 295,843 | 2,835 | (4,783 | ) | (1,948 | ) | ||||||||||
Short-Term Municipal Portfolio | 22,102 | 401 | (3 | ) | 398 | |||||||||||
Intermediate Municipal Portfolio | 403,601 | 14,537 | (9,148 | ) | 5,389 | |||||||||||
Intermediate Municipal II Portfolio | 71,598 | 1,931 | (206 | ) | 1,725 |
The differences between book-basis and tax-basis unrealized appreciation/depreciation are attributable primarily to: tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains/losses on investments in passive foreign investment companies and the difference between book and tax amortization methods for acquisition premium and market discount.
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Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
B. Tax Characteristics of Distributions Paid
The tax characteristics of distributions paid during the fiscal years ending June 30, 2013 and June 30, 2012 were as follows (amounts in thousands):
Distributions Paid From: | Total Taxable Distributions | Tax Return of Capital | Tax-Exempt Distributions | Total Distributions Paid* | ||||||||||||||||||||
Year Ended June 30, 2013 | Ordinary Income | Net Long Term Gains | ||||||||||||||||||||||
Value Portfolio | $ | 17,731 | $ | — | $ | 17,731 | $ | — | $ | — | $ | 17,731 | ||||||||||||
Institutional Value Portfolio | 38,224 | 41,208 | 79,432 | — | — | 79,432 | ||||||||||||||||||
Growth Portfolio | 10,735 | — | 10,735 | — | — | 10,735 | ||||||||||||||||||
Institutional Growth Portfolio | 18,861 | 140,548 | 159,409 | — | — | 159,409 | ||||||||||||||||||
Small Cap–Mid Cap Portfolio | 1,248 | — | 1,248 | — | — | 1,248 | ||||||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | 1,471 | — | 1,471 | — | — | 1,471 | ||||||||||||||||||
Real Estate Portfolio | 3,172 | 46,847 | 50,019 | 33 | — | 50,052 | ||||||||||||||||||
International Portfolio | 38,014 | — | 38,014 | — | — | 38,014 | ||||||||||||||||||
Institutional International Portfolio | 70,500 | 8,605 | 79,105 | — | — | 79,105 | ||||||||||||||||||
Emerging Markets Portfolio | 12,681 | — | 12,681 | — | — | 12,681 | ||||||||||||||||||
Core Fixed Income Portfolio | 3,627 | 770 | 4,397 | — | — | 4,397 | ||||||||||||||||||
Fixed Opportunity Portfolio | 41,470 | — | 41,470 | — | — | 41,470 | ||||||||||||||||||
U.S. Government Fixed Income Portfolio | 4,444 | 5,259 | 9,703 | — | — | 9,703 | ||||||||||||||||||
U.S. Corporate Fixed Income Portfolio | 9,002 | 3,661 | 12,663 | — | — | 12,663 | ||||||||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 8,452 | — | 8,452 | — | — | 8,452 | ||||||||||||||||||
Short-Term Municipal Portfolio | — | 232 | 232 | — | 328 | 560 | ||||||||||||||||||
Intermediate Municipal Portfolio | 65 | — | 65 | — | 12,720 | 12,785 | ||||||||||||||||||
Intermediate Municipal II Portfolio | 6 | 188 | 194 | — | 1,517 | 1,711 |
Distributions Paid From: | Total Taxable Distributions | Tax-Exempt Distributions | Tax-Exempt Distributions | Total Distributions Paid* | ||||||||||||||||||||
Year Ended June 30, 2012 | Ordinary Income | Net Long Term Gains | ||||||||||||||||||||||
Value Portfolio | $ | 14,635 | $ | — | $ | 14,635 | $ | — | $ | — | $ | 14,635 | ||||||||||||
Institutional Value Portfolio | 22,075 | 13,419 | 35,494 | — | — | 35,494 | ||||||||||||||||||
Growth Portfolio | 7,924 | — | 7,924 | — | — | 7,924 | ||||||||||||||||||
Institutional Growth Portfolio | 11,271 | 4,783 | 16,054 | — | — | 16,054 | ||||||||||||||||||
Small Cap–Mid Cap Portfolio | 627 | — | 627 | — | — | 627 | ||||||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | 513 | — | 513 | — | — | 513 | ||||||||||||||||||
Real Estate Portfolio | 10,574 | 46,451 | 57,025 | — | — | 57,025 | ||||||||||||||||||
International Portfolio | 27,139 | — | 27,139 | — | — | 27,139 | ||||||||||||||||||
Institutional International Portfolio | 43,446 | 55,971 | 99,417 | — | — | 99,417 | ||||||||||||||||||
Emerging Markets Portfolio | 8,746 | 8,915 | 17,661 | — | — | 17,661 | ||||||||||||||||||
Core Fixed Income Portfolio | 3,318 | 3,170 | 6,488 | — | — | 6,488 | ||||||||||||||||||
Fixed Opportunity Portfolio | 38,104 | — | 38,104 | — | — | 38,104 | ||||||||||||||||||
U.S. Government Fixed Income Portfolio | 8,418 | — | 8,418 | — | — | 8,418 | ||||||||||||||||||
U.S. Corporate Fixed Income Portfolio | 9,199 | — | 9,199 | — | — | 9,199 | ||||||||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 9,752 | — | 9,752 | — | — | 9,752 |
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Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
Distributions Paid From: | Total Taxable Distributions | Tax-Exempt Distributions | Tax-Exempt Distributions | Total Distributions Paid* | ||||||||||||||||||||
Year Ended June 30, 2012 | Ordinary Income | Net Long Term Gains | ||||||||||||||||||||||
Short-Term Municipal Portfolio | — | 64 | 64 | — | 599 | 663 | ||||||||||||||||||
Intermediate Municipal Portfolio | 181 | — | 181 | — | 15,574 | 15,755 | ||||||||||||||||||
Intermediate Municipal II Portfolio | — | 46 | 46 | — | 1,599 | 1,645 |
* | Total distributions paid may differ from the Statement of Changes in Net Assets because dividends for tax purposes are recognized when actually paid. Certain Portfolios utilize equalization accounting for tax purposes and designate earnings and profits, including net realized gains distributed to shareholders on redemption of shares, as part of the dividends paid deduction for income tax purposes. |
Amounts designated as “—” are $0 or have been rounded to $0.
C. Components of Accumulated Earnings
As of June 30, 2013, the components of accumulated earnings/(deficit) on a tax basis were as follows (amounts in thousands):
Portfolio | Undistributed Ordinary Income/Tax Exempt Income | Undistributed Long Term Capital Gains | Accumulated Earnings | Dividends Payable | Accumulated Capital and Other Losses | Unrealized Appreciation/ Depreciation | Total Accumulated Earnings/(Deficit) | |||||||||||||||||||||
Value Portfolio | $ | 1,128 | $ | — | $ | 1,128 | $ | — | $ | (161,272 | ) | $ | 111,339 | $ | (48,805 | ) | ||||||||||||
Institutional Value Portfolio | 34,275 | 54,942 | 89,217 | — | — | 156,524 | 245,741 | |||||||||||||||||||||
Growth Portfolio | 499 | — | 499 | — | (77,588 | ) | 198,477 | 121,388 | ||||||||||||||||||||
Institutional Growth Portfolio | 14,305 | 52,432 | 66,737 | — | — | 204,318 | 271,055 | |||||||||||||||||||||
Small Cap–Mid Cap Portfolio | 88 | — | 88 | — | (49,233 | ) | 25,438 | (23,707 | ) | |||||||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | 96 | 11,280 | 11,376 | — | — | 44,503 | 55,879 | |||||||||||||||||||||
Real Estate Portfolio | — | — | — | — | — | — | — | |||||||||||||||||||||
International Portfolio | 5,018 | — | 5,018 | — | (20,181 | ) | 190,486 | 175,323 | ||||||||||||||||||||
Institutional International Portfolio | 30,635 | 38,269 | 68,904 | — | — | 242,794 | 311,698 | |||||||||||||||||||||
Emerging Markets Portfolio | 13,542 | — | 13,542 | — | (5,695 | ) | (71,036 | ) | (63,189 | ) | ||||||||||||||||||
Core Fixed Income Portfolio | 282 | 430 | 712 | (205 | ) | (102 | ) | (692 | ) | (287 | ) | |||||||||||||||||
Fixed Opportunity Portfolio | 2,924 | 8,142 | 11,066 | — | — | 7,136 | 18,202 | |||||||||||||||||||||
U.S. Government Fixed Income Portfolio | 333 | 786 | 1,119 | (254 | ) | (268 | ) | 55 | 652 | |||||||||||||||||||
U.S. Corporate Fixed Income Portfolio | 1,258 | 3,116 | 4,374 | (574 | ) | — | (3,390 | ) | 410 | |||||||||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio . | 827 | — | 827 | (631 | ) | (3,898 | ) | (1,109 | ) | (4,811 | ) | |||||||||||||||||
Short-Term Municipal Portfolio | 28 | 41 | 69 | (22 | ) | — | 374 | 421 | ||||||||||||||||||||
Intermediate Municipal Portfolio | 1,165 | — | 1,165 | (833 | ) | (11,926 | ) | 6,900 | (4,694 | ) | ||||||||||||||||||
Intermediate Municipal II Portfolio | 157 | 226 | 383 | (121 | ) | (2 | ) | 1,742 | 2,002 |
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Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
D. Capital Loss Carryforwards
As of their tax year ending June 30, 2013, the following Portfolios had capital loss carryforwards (“CLCFs”) as summarized below (amounts in thousands):
CLCFs subject to expiration:
Portfolio | Expires 2017 | Expires 2018 | Expires 2019 | Total | ||||||||||||
Value Portfolio | $ | — | $ | 161,272 | $ | — | $ | 161,272 | ||||||||
Growth Portfolio | — | 77,589 | — | 77,589 | ||||||||||||
Small Cap–Mid Cap Portfolio | 6,675 | 42,558 | — | 49,223 | ||||||||||||
International Portfolio | — | 20,181 | — | 20,181 | ||||||||||||
Intermediate Municipal Portfolio | — | 2,213 | 9,713 | 11,926 |
CLCFs not subject to expiration:
Portfolio | Short-Term Amount | Long-Term Amount | Total | |||||||||
Emerging Markets Portfolio | $ | 5,695 | $ | — | $ | 5,695 | ||||||
U.S. Mortgage/Asset Backed Portfolio | 487 | 1,032 | 1,519 |
CLCFs that are not subject to expiration must be utilized before those that are subject to expiration. During the year ending June 30, 2013, the Portfolios utilized CLCFs as follows (amounts in thousands):
Portfolio | Amount | |||
Value Portfolio | $ | 59,713 | ||
Growth Portfolio | 53,922 | |||
Small Cap–Mid Cap Portfolio | 17,061 | |||
Institutional Small Cap–Mid Cap Portfolio | 12,873 | |||
International Portfolio | 63,147 | |||
Fixed Opportunity Portfolio | 7,674 | |||
Intermediate Municipal Portfolio | 13,080 |
E. Deferred Losses
Under current tax law, capital losses and specified ordinary losses realized after October 31 and non-specified ordinary losses incurred after December 31 (ordinary losses collectively known as “late year ordinary loss”) may be deferred and treated as occurring on the first business day of the following fiscal year. The following Portfolios had deferred losses, which will be treated as arising on the first day of the fiscal year ending June 30, 2014 (amounts in thousands):
Portfolio | Post-October Capital Losses | |||
Core Fixed Income Portfolio | $ | 103 | ||
U.S. Government Fixed Income Portfolio | 268 | |||
U.S. Mortgage/Asset Backed Portfolio | 2,380 | |||
Intermediate Municipal II Portfolio | 2 |
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Notes to Financial Statements (continued) — December 31, 2013 (Unaudited)
F. Commodity Portfolio Tax Information
The Commodity Portfolio has a tax year end of December 31.
The Commodity Portfolio’s tax cost of securities as of December 31, 2013 was $971,060, resulting in accumulated net unrealized appreciation of $81,215, consisting of $115,445 in gross unrealized appreciation and $34,230 in gross unrealized depreciation.
The tax characteristics of distributions paid during the tax years ending December 31, 2013 and December 31, 2012 were as follows (amounts in thousands):
Year Ended December 31, 2013 | Distributions Paid From: | Total Taxable Distributions | Tax-Exempt Distributions | Total Distributions Paid* | ||||||||||||||||
Ordinary Income | Net Long Term Gains | |||||||||||||||||||
Commodity Portfolio | $ | 8,445 | $ | — | $ | 8,445 | $ | — | $ | 8,445 |
* | Total distributions paid may differ from the Statement of Changes in Net Assets because dividends for tax purposes are recognized when actually paid. Certain Portfolios utilize equalization accounting for tax purposes and designate earnings and profits, including net realized gains distributed to shareholders on redemption of shares, as part of the dividends paid deduction for income tax purposes. |
Amounts designated as “—” are $0 or have been rounded to $0
Year Ended December 31, 2012 | Distributions Paid From: | Total Taxable Distributions | Tax-Exempt Distributions | Total Distributions Paid* | ||||||||||||||||
Ordinary Income | Net Long Term Gains | |||||||||||||||||||
Commodity Portfolio | $ | 7,499 | $ | — | $ | 7,499 | $ | — | $ | 7,499 |
* | Total distributions paid may differ from those shown in the Statements of Changes in Net Assets because dividends for tax purposes are recognized when actually paid. The Commodity Portfolio may utilize equalization accounting for tax purposes by designating earnings and profits, including net realized gains distributed to shareholders on redemption of shares, as part of the dividends paid deduction for income tax purposes. |
Amounts designated as “—” are $0 or have been rounded to $0.
At December 31, 2013, the components of accumulated earnings (deficit) on a tax basis were as follows.
Portfolio | Undistributed Ordinary Income/Tax Exempt Income | Undistributed Long Term Capital Gains | Accumulated Earnings | Dividends Payable | Accumulated Capital and Other Losses | Unrealized Appreciation/ Depreciation | Total Accumulated Earnings/(Deficit) | |||||||||||||||||||||
Commodity Portfolio | $ | (103 | ) | $ | — | $ | (103 | ) | $ | — | $ | (33,793 | ) | $ | 81,291 | $ | 47,395 |
Amounts designated as “—” are $0 or have been rounded to $0.
At December 31, 2013, the Commodity Portfolio had CLCFs (not subject to expiration) to offset future capital gains, if any, as summarized in the table below (amounts in thousands):
Capital loss carry forward originating in current tax year
Short-Term Capital Loss | Long-Term Capital Loss | Total | ||||||
$21,504 | $ | 11,702 | $ | 33,206 |
At December 31, 2013, the Commodity Portfolio had deferred losses, which will be treated as arising on the first day of the tax year ending December 31, 2014.
At December 31, 2013, the Commodity Portfolio had deferred losses, which will be teated as arising on the first day of the fiscal year ending June 30, 2014.
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Notes to Financial Statements (concluded) — December 31, 2013 (Unaudited)
Portfolio | Post-October Capital Losses | |||
Commodity Portfolio | $ | 397 |
Portfolio | Post-October Currency Losses | |||
Commodity Portfolio | $ | 189 |
6. RISK CONSIDERATIONS.
Market Risk — Each Portfolio bears a basic risk that the value of the securities held by a Portfolio may decline in response to general market and economic conditions, or conditions that affect specific market sectors or individual companies.
Credit Risk — Credit risk is the risk that an issuer (or in the case of certain securities, the guarantor or counterparty) will be unable to make principal and interest payments when due. The creditworthiness of an issuer may be affected by a number of factors, including the financial condition of the issuer (or guarantor) and, in the case of foreign issuers, the financial condition of the region.
Foreign Investment Risk — Investments in securities issued by non-U.S. companies and non-U.S. governments and their agencies may be adversely affected by the lack of timely or reliable financial information, political, social and/or economic developments abroad and foreign regulatory requirements and market practices. Securities denominated in foreign currencies are subject to the risk that the value of the foreign currency will decline in relation to the U.S. dollar. In addition, risks associated with foreign investments may be intensified in the case of investments in emerging market countries, whose political, legal and economic systems are less developed and less stable than those of more developed nations.
Concentration Risk — Concentration risk is the risk that results from focusing investments in one industry or market sector. The Real Estate Portfolio and Commodity Portfolio concentrate their investments in real estate securities and commodity-related industries, respectively, which may present greater risks of loss than if the Portfolios were more broadly diversified over numerous unrelated industries.
Commodity-Related Derivatives Risk — The Commodity Portfolio, through its investment in its subsidiaries, will hold commodity-related derivatives. Commodity-related derivatives provide exposure, which may include long and/or short exposure, to the investment returns of physical commodities that trade in the commodities markets without investing directly in physical commodities. The value of a commodity-related derivative typically is based on the price movements of a physical commodity (such as heating oil, precious metals, livestock, or agricultural products), a commodity futures contract or commodity index, or some other readily measurable economic variable. The value of commodity-related derivatives may be affected by changes in overall market movements, volatility of the underlying benchmark, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. The value of commodity-related derivatives will rise or fall in response to changes in the underlying commodity or related index. Investments in commodity-related derivatives may be subject to greater volatility than non-derivative based investments. A highly liquid secondary market may not exist for certain commodity-related derivatives, and there can be no assurance that one will develop.
7. SUBSEQUENT EVENTS. Management has evaluated subsequent events through the date these financial statements were issued. Based on the evaluation, no additional disclosures or adjustments were required to the financial statements as of December 31, 2013.
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Additional Information — December 31, 2013 (Unaudited)
1. SECURITY PROXY VOTING. A description of the policies and procedures that the Trust uses to determine how to vote proxies relating to portfolio securities is contained in the Statement of Additional Information. Information regarding how the Portfolios voted proxies relating to portfolio securities during the most recent twelve months ended June 30, is available without charge, upon request, by calling 800-242-9596 and on the Securities and Exchange Commission’s (“SEC”) website at http://www.sec.gov.
2. SHAREHOLDER VOTES. During the period ending December 31, 2013, the following actions were taken by the shareholders of certain of the Portfolios.
SPECIAL MEETING OF THE SHAREHOLDERS — AUGUST 2, 2013
A special meeting of shareholders of each of The Value Equity Portfolio, The Institutional Value Equity Portfolio, The Growth Equity Portfolio, The Institutional Growth Equity Portfolio, The Small Capitalization–Mid Capitalization Equity Portfolio (f/k/a The Small Capitalization Equity Portfolio), The Institutional Small Capitalization–Mid Capitalization Equity Portfolio (f/k/a The Institutional Small Capitalization Equity Portfolio), The Real Estate Securities Portfolio, The Commodity Returns Strategy Portfolio, The International Equity Portfolio, The Institutional International Equity Portfolio and The Emerging Markets Portfolio was held on August 2, 2013. At the August 2, 2013 meeting, shareholders of The Value Equity Portfolio, The Institutional Value Equity Portfolio, The Growth Equity Portfolio, The Institutional Growth Equity Portfolio, The Small Capitalization–Mid Capitalization Equity Portfolio, The Institutional Small Capitalization–Mid Capitalization Equity Portfolio, The Real Estate Securities Portfolio, The Commodity Returns Strategy Portfolio, The International Equity Portfolio, The Institutional International Equity Portfolio and The Emerging Markets Portfolio approved portfolio management agreements between the Trust and Mellon Capital Management Corporation (“Mellon”). Additionally, shareholders of The Small Capitalization–Mid Capitalization Equity Portfolio and The Institutional Small Capitalization–Mid Capitalization Equity Portfolio approved portfolio management agreements between the Trust and Ariel Investments, LLC (“Ariel”). The results of the August 2, 2013 meeting are presented below:
1. Approval of an amendment to the portfolio management agreement between the Trust, on behalf of The Value Equity Portfolio, and Mellon Capital Management Corporation;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Value Equity Portfolio | 45,609,480.743 | 43,875,025.002 | 96.197 | % | 43,871,848.002 | 96.190 | % |
2. Approval of the portfolio management agreement between the Trust, on behalf of The Institutional Value Equity Portfolio, and Mellon Capital Management Corporation;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Institutional Value Equity Portfolio | 64,323,100.212 | 37,982,568.355 | 59.049 | % | 37,982,568.355 | 59.049 | % |
3. Approval of the portfolio management agreement between the Trust, on behalf of The Growth Equity Portfolio, and Mellon Capital Management Corporation;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Growth Equity Portfolio | 43,528,666.523 | 41,777,611.553 | 95.977 | % | 41,744,856.553 | 95.971 | % |
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Additional Information (continued) — December 31, 2013 (Unaudited)
4. Approval of the portfolio management agreement between the Trust, on behalf of The Institutional Growth Equity Portfolio, and Mellon Capital Management Corporation;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Institutional Growth Equity Portfolio | 76,298,305.092 | 45,127,002.030 | 59.145 | % | 45,127,002.030 | 59.145 | % |
5. Approval of the portfolio management agreement between the Trust, on behalf of The Small Capitalization–Mid Capitalization Equity Portfolio, and Mellon Capital Management Corporation;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Small Capitalization–Mid Capitalization Equity Portfolio | 6,594,561.290 | 6,365,300.378 | 96.523 | % | 6,365,300.378 | 96.523 | % |
6. Approval of the portfolio management agreement between the Trust, on behalf of The Institutional Small Capitalization–Mid Capitalization Equity Portfolio, and Mellon Capital Management Corporation;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio | 10,381,914.097 | 5,655,470.523 | 54.474 | % | 5,655,470.523 | 54.474 | % |
7. Approval of the portfolio management agreement between the Trust, on behalf of The Real Estate Securities Portfolio, and Mellon Capital Management Corporation;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Real Estate Securities Portfolio | 18.416 | 0.00 | 0.00 | % | 0.00 | % | 0.00 | % |
8. Approval of the portfolio management agreement between the Trust, on behalf of The Commodity Returns Strategy Portfolio, and Mellon Capital Management Corporation;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Commodity Returns Strategy Portfolio | 92,440,586.188 | 67,165,153.459 | 72.657 | % | 67,165,153.459 | 72.657 | % |
9. Approval of the portfolio management agreement between the Trust, on behalf of The International Equity Portfolio, and Mellon Capital Management Corporation;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The International Equity Portfolio | 122,313,703.700 | 117,196,855.190 | 95.816 | % | 117,189,971.190 | 95.811 | % |
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Additional Information (continued) — December 31, 2013 (Unaudited)
10. Approval of the portfolio management agreement between the Trust, on behalf of The Institutional International Equity Portfolio, and Mellon Capital Management Corporation;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Institutional International Equity Portfolio | 223,979,120.747 | 145,316,628.097 | 64.879 | % | 145,316,628.097 | 64.879 | % |
11. Approval of the portfolio management agreement between the Trust, on behalf of The Emerging Markets Portfolio, and Mellon Capital Management Corporation;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Emerging Markets Portfolio | 61,743,381.380 | 46,393,379.492 | 75.139 | % | 46,393,379.492 | 75.139 | % |
12. Approval of the portfolio management agreement between the Trust, on behalf of The Small Capitalization–Mid Capitalization Equity Portfolio, and Ariel Investments, LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Small Capitalization–Mid Capitalization Equity Portfolio | 6,594,561.290 | 6,365,300.378 | 96.523 | % | 6,365,300.378 | 96.523 | % |
13. Approval of the portfolio management agreement between the Trust, on behalf of The Institutional Small Capitalization–Mid Capitalization Equity Portfolio, and Ariel Investments, LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio | 10,381,914.097 | 5,655,470.523 | 54.474 | % | 5,655,470.523 | 54.474 | % |
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Additional Information (continued) — December 31, 2013 (Unaudited)
SPECIAL MEETING OF THE SHAREHOLDERS — SEPTEMBER 30, 2013
A special meeting of shareholders of each of The Value Equity Portfolio, The Institutional Value Equity Portfolio, The Growth Equity Portfolio, The Institutional Growth Equity Portfolio, The Small Capitalization–Mid Capitalization Equity Portfolio (f/k/a The Small Capitalization Equity Portfolio), The Institutional Small Capitalization–Mid Capitalization Equity Portfolio (f/k/a The Institutional Small Capitalization Equity Portfolio), The Real Estate Securities Portfolio, The Commodity Returns Strategy Portfolio, The International Equity Portfolio, The Institutional International Equity Portfolio and The Emerging Markets Portfolio was held on September 30, 2013. At the September 30, 2013 meeting, shareholders of The Value Equity Portfolio, The Institutional Value Equity Portfolio, The Growth Equity Portfolio, The Institutional Growth Equity Portfolio, The Small Capitalization–Mid Capitalization Equity Portfolio (f/k/a The Small Capitalization Equity Portfolio), The Institutional Small Capitalization–Mid Capitalization Equity Portfolio (f/k/a The Institutional Small Capitalization Equity Portfolio), The Real Estate Securities Portfolio, The Commodity Returns Strategy Portfolio, The International Equity Portfolio, The Institutional International Equity Portfolio and The Emerging Markets Portfolio approved the portfolio management agreements between the Trust and Cadence Capital Management LLC (“Cadence”).
1. Approval of an amendment to the portfolio management agreement between the Trust, on behalf of The Value Equity Portfolio, and Cadence Capital Management LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Value Equity Portfolio | 44,696,830.17 | 42,834,535.033 | 95.833 | % | 42,834,535.033 | 95.833 | % |
2. Approval of the portfolio management agreement between the Trust, on behalf of The Institutional Value Equity Portfolio, and Cadence Capital Management LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Institutional Value Equity Portfolio | 62,991,338.16 | 37,218,768.789 | 59.085 | % | 37,218,768.789 | 59.085 | % |
3. Approval of the portfolio management agreement between the Trust, on behalf of The Growth Equity Portfolio, and Cadence Capital Management LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Growth Equity Portfolio | 43,335,578.71 | 41,395,489.520 | 95.523 | % | 41,395,489.520 | 95.523 | % |
4. Approval of the portfolio management agreement between the Trust, on behalf of The Institutional Growth Equity Portfolio, and Cadence Capital Management LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Institutional Growth Equity Portfolio | 75,122,023.59 | 44,378,601.707 | 59.075 | % | 44,378,601.707 | 59.075 | % |
5. Approval of the portfolio management agreement between the Trust, on behalf of The Small Capitalization–Mid Capitalization Equity Portfolio, and Cadence Capital Management LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Small Capitalization–Mid Capitalization Equity Portfolio | 6,522,538.59 | 6,238,642.815 | 95.647 | % | 6,238,642.815 | 95.647 | % |
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6. Approval of the portfolio management agreement between the Trust, on behalf of The Institutional Small Capitalization–Mid Capitalization Equity Portfolio, and Cadence Capital Management LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio | 10,363,781.94 | 5,744,035.933 | 55.424 | % | 5,705,646.933 | 55.054 | % |
7. Approval of the portfolio management agreement between the Trust, on behalf of The Real Estate Securities Portfolio, and Cadence Capital Management LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Real Estate Securities Portfolio | 18.416 | 18.000 | 97.741 | % | 18.000 | 97.741 | % |
8. Approval of the portfolio management agreement between the Trust, on behalf of The Commodity Returns Strategy Portfolio, and Cadence Capital Management LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Commodity Returns Strategy Portfolio | 93,977,160.98 | 64,035,471.422 | 68.139 | % | 63,996,616.422 | 68.098 | % |
9. Approval of the portfolio management agreement between the Trust, on behalf of The International Equity Portfolio, and Cadence Capital Management LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The International Equity Portfolio | 122,797,202.65 | 116,791,847.375 | 95.109 | % | 116,791,847.375 | 95.109 | % |
10. Approval of the portfolio management agreement between the Trust, on behalf of The Institutional International Equity Portfolio, and Cadence Capital Management LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Institutional International Equity Portfolio | 224,338,585.16 | 123,394,598.998 | 55.003 | % | 123,107,805.998 | 54.876 | % |
11. Approval of the portfolio management agreement between the Trust, on behalf of The Emerging Markets Portfolio, and Cadence Capital Management LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Emerging Markets Portfolio | 63,755,981.34 | 45,918,472. | 72.022 | % | 45,860,277.997 | 71.931 | % |
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3. EXPENSE EXAMPLE. As a shareholder of the Trust, you incur ongoing costs, including management fees and other Portfolio expenses. This example (as set forth in the table below) is intended to help you understand your ongoing costs (in dollars) of investing in the Trust and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from July 1, 2013 through December 31, 2013.
Actual Expenses: The table below provides information about actual account values and actual expenses. You may use the information below, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.
Hypothetical Example for Comparison Purposes: The table below provides information about hypothetical account values and hypothetical expenses based on each of the Portfolio’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as redemption fees or exchange fees. Therefore, the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
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Beginning Account Value, July 1, 2013 | Ending Account Value, December 31, 2013 | Expenses Paid During Period2 | Annualized Expense Ratio | |||||||||||||||||||||
Value Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,143.80 | $ | 1.78 | 0.33 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,023.54 | $ | 1.68 | 0.33 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,143.80 | $ | 1.73 | 0.32 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,023.59 | $ | 1.63 | 0.32 | % | |||||||||||||||||
Institutional Value Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,143.60 | $ | 1.57 | 0.29 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,023.74 | $ | 1.48 | 0.29 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,144.40 | $ | 1.57 | 0.29 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,023.74 | $ | 1.48 | 0.29 | % | |||||||||||||||||
Growth Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,173.00 | $ | 1.48 | 0.27 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,023.84 | $ | 1.38 | 0.27 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,173.20 | $ | 1.48 | 0.27 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,023.84 | $ | 1.38 | 0.27 | % | |||||||||||||||||
Institutional Growth Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,166.00 | $ | 1.47 | 0.27 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,023.84 | $ | 1.38 | 0.27 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,166.00 | $ | 1.53 | 0.28 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | |||||||||||||||||
Small Cap–Mid Cap Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,185.30 | $ | 3.08 | 0.56 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,022.38 | $ | 2.85 | 0.56 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,185.50 | $ | 3.08 | 0.56 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,022.38 | $ | 2.85 | 0.56 | % | |||||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,167.70 | $ | 3.66 | 0.67 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,021.83 | $ | 3.41 | 0.67 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,167.70 | $ | 3.61 | 0.66 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,021.88 | $ | 3.36 | 0.66 | % | |||||||||||||||||
Real Estate Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,005.10 | $ | 2.29 | 0.75 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,021.42 | $ | 3.82 | 0.75 | % | |||||||||||||||||
Commodity Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,098.10 | $ | 3.38 | 0.64 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,021.98 | $ | 3.26 | 0.64 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,098.20 | $ | 3.38 | 0.64 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,021.98 | $ | 3.26 | 0.64 | % | |||||||||||||||||
International Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,174.90 | $ | 2.47 | 0.45 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,022.94 | $ | 2.29 | 0.45 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,174.80 | $ | 2.47 | 0.45 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,022.94 | $ | 2.29 | 0.45 | % | |||||||||||||||||
Institutional International Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,174.40 | $ | 2.36 | 0.43 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,023.04 | $ | 2.19 | 0.43 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,173.40 | $ | 2.36 | 0.43 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,023.04 | $ | 2.19 | 0.43 | % |
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Beginning Account Value, July 1, 2013 | Ending Account Value, December 31, 2013 | Expenses Paid During Period2 | Annualized Expense Ratio | |||||||||||||||||||||
Emerging Markets Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,086.20 | $ | 4.21 | 0.80 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,021.17 | $ | 4.08 | 0.80 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,086.20 | $ | 4.21 | 0.80 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,021.17 | $ | 4.08 | 0.80 | % | |||||||||||||||||
Core Fixed Income Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,004.90 | $ | 1.41 | 0.28 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,004.90 | $ | 1.41 | 0.28 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | |||||||||||||||||
Fixed Opportunity Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,051.50 | $ | 1.45 | 0.28 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,052.90 | $ | 1.45 | 0.28 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | |||||||||||||||||
U.S. Government Fixed Income Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 994.50 | $ | 0.90 | 0.18 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,024.30 | $ | 0.92 | 0.18 | % | |||||||||||||||||
U.S. Corporate Fixed Income Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,016.00 | $ | 1.68 | 0.33 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,023.54 | $ | 1.68 | 0.33 | % | |||||||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,002.90 | $ | 0.91 | 0.18 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,024.30 | $ | 0.92 | 0.18 | % | |||||||||||||||||
Short-Term Municipal Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,007.60 | $ | 1.27 | 0.25 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,023.95 | $ | 1.28 | 0.25 | % | |||||||||||||||||
Intermediate Municipal Portfolio | HC Strategic Shares | Actual | 1,000 | $ | 1,012.20 | $ | 1.42 | 0.28 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,012.20 | $ | 1.42 | 0.28 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | |||||||||||||||||
Intermediate Muni II | HC Strategic Shares | Actual | 1,000 | $ | 1,009.90 | $ | 1.27 | 0.25 | % | |||||||||||||||
Hypothetical | 1,000 | $ | 1,023.95 | $ | 1.28 | 0.25 | % | |||||||||||||||||
HC Advisors Shares | Actual | 1,000 | $ | 1,008.90 | $ | 1.27 | 0.25 | % | ||||||||||||||||
Hypothetical | 1,000 | $ | 1,023.95 | $ | 1.28 | 0.25 | % |
1 | Represents the hypothetical 5% annual return before expenses. |
2 | Expenses are equal to the Portfolio’s annualized expense ratio multiplied by the average account value over the period multiplied by 184/365 (to reflect the one-half year period). |
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4. ADDITIONAL FEDERAL INCOME TAX INFORMATION
A. Dividends Received Deduction. For corporate shareholders, the following percentage of the total ordinary income distributions paid during the fiscal year ending December 31, 2013 qualify for the corporate dividend received deduction for the following Portfolio:
Portfolio | Dividends Received Deduction | |||
Commodity Portfolio | 44.73 | % |
* | Amount rounds to zero. |
B. Qualified Dividends. For the fiscal year ending December 31, 2013, under current tax law, the following dividends paid may be subject to a maximum tax rate of 23.8%.
Portfolio | Dividends Paid | |||
Commodity Portfolio | 100.00 | % |
* | Amount rounds to zero. |
The Portfolios intend to designate the maximum amount allowable as taxed at a maximum rate of 23.8%. Complete information will be reported in conjunction with your 2013 Form 1099-DIV.
5. ACCESS TO QUARTERLY HOLDINGS
A complete schedule of each Portfolio’s portfolio holdings for the first and third fiscal quarters of each fiscal year is filed with the SEC on Form N-Q and is available on the SEC’s website at http://www.sec.gov. In addition, the schedules may be reviewed and copied at the SEC’s Public Reference Room in Washington D.C. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.
6. ADDITIONAL PORTFOLIO HOLDINGS INFORMATION
The following tables reflect the percentage of the total investments of each Portfolio attributable to the indicated industry sector, type of security or geographic region, as appropriate for the indicated Portfolio.
Value Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 11.2 | % | ||
Consumer Staples | 8.6 | % | ||
Energy | 9.7 | % | ||
Financials | 28.8 | % | ||
Health Care | 10.4 | % | ||
Industrials | 9.0 | % | ||
Information Technology | 11.1 | % | ||
Materials | 5.2 | % | ||
Telecommunication Services | 3.4 | % | ||
Utilities | 2.1 | % | ||
Other | 0.5% |
Security Allocation | Percentage of Value | |||
Total | 100.0 | % |
Institutional Value Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 11.2 | % | ||
Consumer Staples | 8.5 | % | ||
Energy | 9.7 | % | ||
Financials | 28.5 | % | ||
Health Care | 10.7 | % | ||
Industrials | 8.6 | % | ||
Information Technology | 10.8 | % | ||
Materials | 5.0% |
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Security Allocation | Percentage of Value | |||
Telecommunication Services | 3.3 | % | ||
Utilities | 2.1 | % | ||
Other | 1.6 | % | ||
Total | 100.0 | % |
Growth Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 16.5 | % | ||
Consumer Staples | 11.5 | % | ||
Energy | 5.6 | % | ||
Financials | 11.8 | % | ||
Health Care | 16.8 | % | ||
Industrials | 7.5 | % | ||
Information Technology | 26.1 | % | ||
Materials | 3.2 | % | ||
Other | 1.0 | % | ||
Total | 100.0 | % |
Institutional Growth Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 14.0 | % | ||
Consumer Staples | 11.1 | % | ||
Energy | 4.8 | % | ||
Financials | 11.5 | % | ||
Health Care | 15.2 | % | ||
Industrials | 7.2 | % | ||
Information Technology | 22.5 | % | ||
Materials | 2.0 | % | ||
Telecommunication Services | 0.0 | % | ||
Other | 11.7 | % | ||
Total | 100.0 | % |
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Additional Information (continued) — December 31, 2013 (Unaudited)
Small Cap Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 11.1 | % | ||
Consumer Staples | 2.0 | % | ||
Energy | 4.1 | % | ||
Financials | 14.9 | % | ||
Health Care | 12.6 | % | ||
Industrials | 18.2 | % | ||
Information Technology | 16.8 | % | ||
Materials | 6.1 | % | ||
Telecommunication Services | 0.7 | % | ||
Utilities | 1.4 | % | ||
Other | 12.1 | % | ||
Total | 100.0 | % |
Institutional Small Cap Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 9.6 | % | ||
Consumer Staples | 1.2 | % | ||
Energy | 4.2 | % | ||
Financials | 14.6 | % | ||
Health Care | 11.4 | % | ||
Industrials | 16.8 | % | ||
Information Technology | 16.0 | % | ||
Materials | 5.9 | % | ||
Telecommunication Services | 0.7 | % | ||
Utilities | 1.6 | % | ||
Other | 18.0 | % | ||
Total | 100.0 | % |
Real Estate Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 6.1 | % | ||
Consumer Staples | 1.5 | % | ||
Financials | 85.2 | % | ||
Health Care | 4.1 | % | ||
Telecommunication Services | 1.6 | % | ||
Other | 1.5 | % | ||
Total | 100.0 | % |
Commodity Portfolio
Security Allocation | Percentage of Value | |||
Energy | 37.3 | % | ||
Financials | 1.6 | % | ||
Industrials | 0.9 | % | ||
Materials | 25.5 | % | ||
Telecommunication Services | 0.1 | % | ||
Utilities | 0.2 | % | ||
Other | 34.4 | % | ||
Total | 100.0 | % |
International Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 11.8 | % | ||
Consumer Staples | 10.5 | % | ||
Energy | 7.2 | % | ||
Financials | 17.4 | % | ||
Health Care | 10.3 | % | ||
Industrials | 14.3 | % | ||
Information Technology | 5.2 | % | ||
Materials | 8.3 | % | ||
Telecommunication Services | 5.0 | % | ||
Utilities | 1.6 | % | ||
Other | 8.4 | % | ||
Total | 100.0 | % |
Institutional International Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 11.7 | % | ||
Consumer Staples | 10.2 | % | ||
Energy | 7.4 | % | ||
Financials | 17.6 | % | ||
Health Care | 10.6 | % | ||
Industrials | 14.0 | % | ||
Information Technology | 4.4 | % | ||
Materials | 8.1 | % | ||
Telecommunication Services | 5.2 | % | ||
Utilities | 1.9 | % | ||
Other | 8.9 | % | ||
Total | 100.0 | % |
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Emerging Markets Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 7.2 | % | ||
Consumer Staples | 4.5 | % | ||
Energy | 14.0 | % | ||
Financials | 27.2 | % | ||
Health Care | 0.7 | % | ||
Industrials. | 9.3 | % | ||
Information Technology | 12.8 | % | ||
Materials | 9.7 | % | ||
Telecommunication Services | 6.9 | % | ||
Utilities | 4.2 | % | ||
Other | 3.5 | % | ||
Total | 100.0 | % |
Core Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 2.1 | % | ||
Consumer Staples | 0.8 | % | ||
Energy | 2.4 | % | ||
Financials | 15.0 | % | ||
Health Care | 1.8 | % | ||
Industrials | 1.3 | % | ||
Information Technology | 2.4 | % | ||
Materials | 1.6 | % | ||
Telecommunication Services | 3.0 | % | ||
Utilities | 0.6 | % | ||
Other | 69.0 | % | ||
Total | 100.0 | % |
Fixed Opportunity Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 14.6 | % | ||
Consumer Staples | 6.8 | % | ||
Energy | 21.9 | % | ||
Financials | 9.0 | % | ||
Health Care | 8.5 | % | ||
Industrials | 6.3 | % | ||
Information Technology | 6.2 | % | ||
Materials | 5.5 | % | ||
Telecommunication Services | 11.8 | % | ||
Utilities | 4.0 | % | ||
Other | 5.4 | % | ||
Total | 100.0 | % |
U.S. Government Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Treasury | 89.4 | % | ||
Agency | 9.9 | % | ||
Corporate | 0.1 | % | ||
Time Deposits | 0.6 | % | ||
Total | 100.0 | % |
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Additional Information (continued) — December 31, 2013 (Unaudited)
U.S. Corporate Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 7.4 | % | ||
Consumer Staples | 1.9 | % | ||
Energy | 6.8 | % | ||
Financials | 45.9 | % | ||
Health Care | 5.4 | % | ||
Industrials | 3.7 | % | ||
Information Technology | 7.3 | % | ||
Materials | 5.2 | % | ||
Telecommunication Services | 9.3 | % | ||
Utilities | 1.9 | % | ||
Other | 5.2 | % | ||
Total | 100.0 | % |
U.S. Mortgage/Asset Backed Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Agency | 82.2 | % | ||
Mortgage | 4.6 | % | ||
Asset Backed Securities | 0.9 | % | ||
Cash/Other | 12.3 | % | ||
Total | 100.0 | % |
Short-Term Municipal Portfolio
Security Allocation | Percentage of Value | |||
General | 14.3 | % | ||
General Obligation | 26.3 | % | ||
Higher Education | 5.3 | % | ||
Medical | 3.8 | % | ||
Power | 6.3 | % | ||
School District | 16.1 | % | ||
Transportation | 11.0 | % | ||
Utilities | 5.8 | % | ||
Water | 8.8 | % | ||
Other | 2.3 | % | ||
Total | 100.0 | % |
Intermediate Municipal Portfolio
Security Allocation | Percentage of Value | |||
Airport | 5.3 | % | ||
Education | 3.4 | % | ||
Facilities | 5.3 | % | ||
Financials | 0.0 | % | ||
General | 17.6 | % | ||
General Obligation | 16.9 | % | ||
Higher Education | 8.3 | % | ||
Medical. | 4.2 | % | ||
Multi-Family Housing | 0.7 | % | ||
Nursing Homes | 0.3 | % | ||
Pollution | 1.7 | % | ||
Power | 8.9 | % | ||
School District | 3.2 | % | ||
Single Family Housing | 0.9 | % | ||
Tobacco Settlement | 2.3 | % | ||
Transportation | 8.8 | % | ||
Utilities | 2.6 | % | ||
Water | 9.5 | % | ||
Other | 0.1 | % | ||
Total | 100.0 | % |
Intermediate Municipal II Portfolio
Security Allocation | Percentage of Value | |||
Airport | 0.0 | % | ||
Bond Bank | 2.1 | % | ||
Education | 2.4 | % | ||
Facilities | 6.5 | % | ||
General | 10.8 | % | ||
General Obligation | 30.1 | % | ||
Higher Education | 3.6 | % | ||
Pollution. | 2.3 | % | ||
Power | 3.0 | % | ||
School District | 10.5 | % | ||
Transportation | 5.3 | % | ||
Utilities | 7.4 | % | ||
Water | 12.0 | % | ||
Other | 4.0 | % | ||
Total | 100.0 | % |
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Additional Information (continued) — December 31, 2013 (Unaudited)
7. BOARD APPROVAL OF INVESTMENT ADVISORY CONTRACTS
The Trust’s investment adviser is HC Capital Solutions (the “Adviser”), an operating division of Hirtle Callaghan & Co. LLC, (“Hirtle Callaghan”). The Adviser provides overall investment management services with respect to the Trust and its Portfolios pursuant to the terms of two separate agreements with the Trust (“HC Contracts”). The Adviser is authorized under the HC Contracts to purchase and sell portfolio securities for the Portfolios. Day-to-day portfolio management services are generally provided to the respective Portfolios by one or more investment advisory organizations (each a “Specialist Manager”) pursuant to the terms of separate investment advisory agreements (each, a “Portfolio Management Agreement”). As of the date of this report, the Trust offered nineteen Portfolios, thirteen of which were managed by two or more Specialist Managers,1 each of which is responsible for providing day-to-day portfolio management services for that portion of a Portfolio’s assets allocated to it by, and under the supervision of, the Adviser.
During the six-month period covered by this report, the Trust’s Board:
• | Approved the continuation of certain Portfolio Management Agreements relating to each of several Portfolios; |
• | In connection with the retention of Mellon Capital Management Corporation (“Mellon Capital”) and Cadence Capital Management (“Cadence”), approved Portfolio Management Agreements with Mellon and Cadence relating to several existing and one newly organized Portfolio; |
• | Approved new Portfolio Management Agreements between the Trust and Artisan Partners Limited Partnership (“Artisan”), which approval permits Artisan to continue to serve as a Specialist Manager for certain of the Trust’s Portfolios following certain transactions involving Artisan; |
• | Approved amendments to the Portfolio Management Agreements between the Trust and each of AllianceBernstein, L.P. (“AllianceBernstein”) and Lazard Asset Management, LLC (“Lazard”), in each case reducing the rate at which advisory fees payable to these Specialist Managers are computed. |
In considering each of the Portfolio Management Agreements referenced above, the Board recognized that, under each such agreement, a Specialist Manager is responsible only for day-to-day investment decisions with respect to that portion of a Portfolio’s assets allocated to it. The Board further recognized that Specialist Managers do not participate in the administration of any of the Portfolios or in the distribution of shares of any Portfolio and thus receive limited, if any, benefit from their association with the Trust other than the fee paid to them by the respective Portfolios for investment management services.
Continuation of Certain Portfolio Management Agreements. During the period, the Board approved continuation of Portfolio Management Agreements with Wellington Management Company, LLP (“WMC”) relating to the Commodity Returns Strategy Portfolio and the Real Estate Securities Portfolio (collectively, the “WMC Portfolios”). The Board also approved the continuance of Portfolio Management Agreements relating to Portfolios designed to invest primarily in international securities (“International Portfolios”) and those Portfolios that focus on the small/mid capitalization sector of the securities markets (“Small/Mid Portfolios”). The agreements related to the WMC Portfolios, the International Portfolios and the Small/Mid Portfolios (collectively, the “Continuing Agreements”) are identified, together with the Specialist Managers subject to review during the period, below.
Specialist Manager | International Portfolios | |
Artisan Partners Limited Partnership | The International Equity Portfolio The Institutional International Equity Portfolio | |
Capital Guardian Trust Company | The International Equity Portfolio The Institutional International Equity Portfolio |
1 | See Note 3. |
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Additional Information (continued) — December 31, 2013 (Unaudited)
Specialist Manager | International Portfolios | |
Causeway Capital Management LLC | The International Equity Portfolio The Institutional International Equity Portfolio | |
Lazard Asset Management LLC | The Institutional International Equity Portfolio | |
The Boston Company Asset Management LLC | The Emerging Markets Portfolio | |
SSgA Funds Management | The Emerging Markets Portfolio |
Specialist Manager | WCM Portfolios | |
Wellington Management Company, LLP | The Real Estate Securities Portfolio The Commodity Returns Strategy Portfolio |
Specialist Manager | Small/Mid Portfolios | |
Cupps Capital Management, LLC | The Small Capitalization–Mid Capitalization Equity Portfolio The Institutional Small Capitalization–Mid Capitalization Equity Portfolio | |
Frontier Capital Management Company, LLC | The Small Capitalization–Mid Capitalization Equity Portfolio The Institutional Small Capitalization–Mid Capitalization Equity Portfolio | |
IronBridge Capital Management LP | The Small Capitalization–Mid Capitalization Equity Portfolio The Institutional Small Capitalization–Mid Capitalization Equity Portfolio | |
Pzena Investment Management, LLC | The Small Capitalization–Mid Capitalization Equity Portfolio The Institutional Small Capitalization–Mid Capitalization Equity Portfolio |
In approving the Continuing Agreements, the Board concluded that continuation of each of the Continuing Agreements was in the best interests of the Trust and consistent with the expectations of shareholders of the respective Portfolios. While the Board did not identify any particular factor as controlling, the Board gave substantial weight to the fact that the Trust is designed primarily to serve as a vehicle through which the Adviser implements asset allocation strategies on behalf of Hirtle Callaghan’s clients; that shares of the respective Portfolios are generally available only to such clients; and representations by the Adviser that the performance achieved by the relevant Specialist Managers was consistent with the Adviser’s expectations in the context of overall objectives, and multi-manager strategy, of each of the respective Portfolios. During the course of its deliberations, the Board was informed with respect to publicly available information assembled by a third-party service provider about the performance of peer funds managed by other investment advisory organizations. The Board did not specifically rely on such information but based its conclusions on the facts and circumstances of the Trust.
In concluding that continuation of the respective agreements was appropriate, the Board did not rely upon any single factor but gave considerable weight to the Adviser’s recommendations and its assessment of each Specialist Manager’s overall compliance profile and the success and future ability of the respective Portfolios to capture the desired asset class. Based on the foregoing, the Board concluded that the performance of the Specialist Managers was satisfactory and that continuation of such contracts was in the best interest of shareholders of the respective Portfolios.
The Board also determined that the rate at which each of the Specialist Managers is compensated under the Continuing Agreements is reasonable. In reaching this conclusion, the Board had before it information about the
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Additional Information (continued) — December 31, 2013 (Unaudited)
impact of break-points and fee waivers afforded to the Portfolios, financial information about the the Specialist Managers relating to factors such as profitability, comparable fees charged to other institutional clients and/or to peer funds for similar services and costs incurred by the Specialist Managers in providing services to the respective Portfolios. In considering this information, the Board gave substantial weight to information demonstrating that the rate at which these Specialist Managers are compensated was determined as a result of arms-length negotiations conducted by the officers of the Trust and the Adviser, including in several cases, negotiated fee waivers and scheduled breakpoints designed to recognize economies of scale where appropriate.
Approval of New Portfolio Management Agreements with Mellon Capital. During the period, the Board approved new Portfolio Management Agreements (the “Mellon Capital Agreements”) between the Trust and Mellon Capital relating to each of the Portfolios (collectively, the “Affected Fixed Income Portfolios”) listed below:
The Core Fixed Income Portfolio
The US Corporate Fixed Income Securities Portfolio
The Fixed Income Opportunity Portfolio
The Inflation Protected Securities Portfolio
The following is a summary of the factors considered by the Board in approving the Mellon Capital Agreements.
With respect to the nature and quality of the services expected to be provided to the Affected Fixed Income Portfolios, the Board gave considerable weight to the Adviser’s expectations with respect to the potential that implementation of Mellon Capital’s index exposure strategies (“Mellon Capital Strategies”) would contribute to the achievement of each Portfolio’s investment objective and their ability to capture the desired asset class. The Board also considered fact that, although the Mellon Capital Strategies would be implemented in consultation with the Adviser, Mellon Capital would not participate in the administration or distribution of shares of the Portfolios and that, other than advisory fees payable under the terms of the Mellon Capital Agreements, it was not expected that Mellon Capital would benefit materially from its association with the Trust. The Board further considered its familiarity with Mellon Capital based on the firm’s ongoing services to a number of other Portfolios of the Trust. In concluding that approval of the Mellon Capital Agreements was in the best interests of the Affected Fixed Income Portfolios, the Board was informed with respect to publicly available information about the performance of other managers employing similar strategies but did not base it determination on results reported to have been achieved by such managers.
With respect to the fee schedules pursuant to which Mellon Capital would be compensated for its services, the Board considered the fact that, under the Mellon Capital Agreements, the rate at which advisory fees relating to assets allocated to Mellon Capital would be calculated would be lower than the rate applicable to assets allocated to the other Specialist Managers currently serving the Core Fixed Income, Fixed Income Opportunity and U.S. Corporate Fixed Income Securities Portfolios (“Existing Portfolios”). In determining that the fee schedules proposed for these Existing Portfolios were fair and reasonable, the Board recognized that the impact of the lower rate on overall advisory fees would depend on the allocation of assets within the Existing Portfolios. With respect to the newly organized The Inflation Protected Securities Portfolio, the Board also determined that the proposed fee schedule was fair and reasonable, basing its finding on several factors, including comparisons to the fees charged by other investment advisory organizations for similar services.
The Board was also informed with respect to Mellon Capital’s financial position and profitability as well as data regarding advisory fees paid by other funds with similar investment policies, In considering this information, the Board gave substantial weight to information demonstrating that the rate at which Mellon Capital is compensated under the separate Portfolio Management Agreements was determined as a result of arms-length negotiations conducted by the officers of the Trust and the Adviser.
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Additional Information (continued) — December 31, 2013 (Unaudited)
Approval of New Portfolio Management Agreements with Cadence. During the period, the Board approved new Portfolio Management Agreements (the “Cadence Agreements”) between the Trust and Cadence relating to each of the Portfolios (collectively, the “Affected Equity Portfolios”) listed below:
The Value Equity Portfolio | The Institutional Value Equity Portfolio | |
The Growth Equity Portfolio | The Institutional Growth Equity Portfolio | |
The Small Capitalization Equity Portfolio | The Institutional Small Capitalization Equity Portfolio | |
The Institutional International Equity Portfolio | The International Equity Portfolio | |
The Real Estate Securities Portfolio | The Commodity Returns Strategy Portfolio | |
The Emerging Markets Portfolio |
The Cadence Agreements included both permanent agreements with respect to each of the Affected Equity Portfolios and interim agreements with respect The Value Equity Portfolio, The Institutional Value Equity Portfolio, The International Equity Portfolio and The Institutional International Equity Portfolio which allowed Cadence to begin providing services to those Portfolios pending shareholder approval of the permanent agreements.
The following is a summary of the factors considered by the Board in approving the Cadence Agreements.
With respect to the nature and quality of the services expected to be provided to the Affected Equity Portfolios, the Board gave considerable weight to the Adviser’s expectations with respect to the potential that implementation of Cadence’s rules-based index strategies (“Cadence Index Strategies”) would contribute to the achievement of each Portfolio’s investment objective and their ability to capture the desired asset class. The Board also considered fact that, although the Cadence Index Strategies would be implemented in consultation with the Adviser, Cadence would not participate in the administration or distribution of shares of the Portfolios, as well as the fact that Cadence would receive limited, if any, benefit from its association with the Trust other than advisory fees payable to Cadence under the terms of the Cadence Agreements. In concluding that approval of the Cadence Agreements was in the best interests of the Affected Equity Portfolios, the Board was informed with respect to publicly available information about the performance of other index managers but, due to the customized nature of the Cadence Index Strategies, did not base it determination on results reported to have achieved by such managers.
With respect to the fee schedules pursuant to which Cadence would be compensated for its services, the Board noted that the Affected Equity Portfolios would benefit from reduced fees in the event that the aggregate allocation of assets to the Cadence Index Strategies exceeds certain levels and the Adviser’s expectation that such break points would be reached upon full implementation of the Cadence Agreements. With respect to the expected increase in the advisory fees that would be paid by several of the Affected Equity Portfolios upon implementation of the respective Cadence Agreements, the Board took into consideration the customized analytical services to which the Affected Equity Portfolios would have access as contrasted with more traditional index programs. Informed with respect to Cadence’s financial position and profitability, the Board gave substantial weight in its deliberations to information demonstrating that the rate at which Cadence is to be compensated was determined as a result of arms-length negotiations conducted by the officers of the Trust and the Adviser, including scheduled breakpoints designed to recognize economies of scale where appropriate.
Approval of New Portfolio Management Agreements with Artisan. During the period, the Board also approved new Portfolio Management Agreements (the “New Artisan Agreements”) with Artisan related to The International Equity Portfolio and The Institutional International Equity Portfolio. The Board’s approval of the New Artisan Agreements effectively permits Artisan to continue to provide portfolio management services to these Portfolios following the certain changes in Artisan’s ownership structure which, under the 1940 Act, would result in the automatic termination of the existing agreements with Artisan. In determining to approve the New Artisan Agreements, the Board considered the fact that approval of the New Agreements would avoid disruption of the portfolio management services provided to the Portfolios. The Board also considered each of the factors it had considered in approving continuation of the Continuing Agreements noted above, as well as a revision in the break-point schedule that would reduce fees payable to Artisan by the Portfolios under certain circumstances.
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Additional Information (continued) — December 31, 2013 (Unaudited)
Approval of Amendments to Certain Portfolio Management Agreements. During the period, the Board also approved amendments to the Portfolio Management Agreements with AllianceBernstein, relating to the Value Equity and Institutional Value Equity Portfolios and with Lazard relating to the Institutional International Equity Portfolio (“Affected Equity Portfolios”). In approving the amendments, each of which reduced the rate at which fees payable by the relevant Portfolios to AllianceBernstein and Lazard, respectively, are computed, the Board reviewed information with respect to the nature of the services provided by each of AllianceBernstein and Lazard and the role of each organization in the context of the Affected Equity Portfolios, as well the view of the Adviser to the effect that reduction of the advisory fee rate would not change or impair the nature or quality of services provided to these Portfolios. Based on all of the information presented, the Board concluded that implementation of the amendments was in the interests of the shareholders of the relevant Portfolios.
OFFICERS AND AFFILIATED TRUSTEES. The table below sets forth certain information about each of the Trust’s Affiliated Trustees, as well as its executive officers.
NAME, ADDRESS, AND AGE | POSITION(S) HELD WITH TRUST | TERM OF OFFICE; TERM SERVED IN OFFICE | PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS | NUMBER OF PORTFOLIOS IN FUND COMPLEX OVERSEEN | OTHER DIRECTORSHIPS HELD BY TRUSTEE** | |||||
Robert J. Zion* Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Age: 51 | Trustee; President | Indefinite; Trustee since 4/30/07; President since 6/12/12 | Mr. Zion is currently the Chief Operating Officer, Secretary and a Principal of Hirtle Callaghan & Co., LLC (“Hirtle Callaghan”), a registered investment adviser and the parent company of the Adviser. He has been with Hirtle Callaghan for more than the past five years. | 19 | None | |||||
Colette L. Bergman Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Age: 43 | Vice President & Treasurer | Indefinite; Since 6/12/12 | Ms. Bull is currently a Vice President of Hirtle Callaghan. She has been with Hirtle Callaghan for more than the past five years. | 19 | N/A | |||||
Guy Talarico Alaric Compliance Services, LLC 150 Broadway, Suite 302 New York, NY 10038 Age: 58 | Chief Compliance Officer | Indefinite; Since 4/25/13 | Mr. Talarico is the founder of Alaric Compliance Services LLC and served as its President and Chief Executive Officer for more than the past five years. | 19 | N/A | |||||
Amber Baker Citi Fund Services 3435 Stelzer Road Columbus, OH 43219 Age: 32 | Secretary | Indefinite; Since 12/09/13 | Ms. Baker is a Vice President and has been with Citi Fund Services Ohio, Inc. since November 2013. Prior to November 2013, Ms. Baker was associate counsel at NGAM Distribution, L.P. (from May 2010 to October 2013); and an associate at Wilmer Cutler Pickering Hale and Dorr LLP (from January 2008 to September 2009). | 19 | N/A |
* | Mr. Zion may be deemed to be an “interested person” of the Adviser as that term is defined by the 1940 Act, as a result of his past or present positions with the Adviser or its affiliates. |
** | The information in this column relates only to directorships in companies required to file certain reports with the SEC under the various federal securities laws. |
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Additional Information (concluded) — December 31, 2013 (Unaudited)
INDEPENDENT TRUSTEES. The following table sets forth certain information about the Independent Trustees.
NAME, ADDRESS, AND AGE | POSITION(S) HELD WITH TRUST | TERM OF OFFICE; TERM SERVED IN OFFICE | PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS | NUMBER OF PORTFOLIOS IN FUND COMPLEX OVERSEEN | OTHER DIRECTORSHIPS HELD BY TRUSTEE* | |||||
Jarrett Burt Kling Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Age: 70 | Trustee | Indefinite; Since 7/20/95 | For more than the past five years Mr. Kling has been a managing director of CBRE Clarion Securities, LLC, a registered investment adviser. | 19 | None | |||||
Harvey G. Magarick Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Age: 74 | Trustee | Indefinite; Since 7/01/04 | Mr. Magarick is retired. Prior to June 3, 2004, he was a partner in the accounting firm of BDO Seidman, LLP. | 19 | Atlas Resources LP | |||||
R. Richard Williams Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Age: 68 | Trustee | Indefinite; Since 7/15/99 | Since 2000, Mr. Williams has been the owner of Seaboard Advisers (consulting services). | 19 | Franklin Square Energy and Power Fund | |||||
Richard W. Wortham, III Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Age: 75 | Trustee | Indefinite; Since 7/20/95 | Mr. Wortham is currently the President of The Wortham Foundation and has been a Trustee for more than the past five years. | 19 | Oncor Electric Delivery Company LLC |
* | The information in this column relates only to directorships in companies required to file certain reports with the SEC under the various federal securities laws. |
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Trustees
JARRETT B. KLING
HARVEY G. MAGARICK
RICHARD W. WORTHAM III
R. RICHARD WILLIAMS
ROBERT J. ZION*
* | “Interested Person” as that term is defined in the Investment Company Act of 1940. |
Investment Adviser
HC Capital Solutions
Five Tower Bridge
300 Barr Harbor Drive, Suite 500
West Conshohocken, PA 19428
Administrator
Citi Fund Services Ohio, Inc.
3435 Stelzer Road
Columbus, OH 43219
Distributor
Unified Financial Securities, Inc.
2960 North Meridian Street, Suite 300
Indianapolis, IN 46208-4715
Counsel
Stradley Ronon Stevens & Young, LLP
2005 Market Street, Suite 2600
Philadelphia, PA 19103-7018
McCarter & English, LLP
1735 Market Street, Suite 700
Philadelphia, PA 19103
Independent Registered Public Accounting Firm
PricewaterhouseCoopers LLP
41 South High Street, Suite 2500
Columbus, OH 43215
Custodian
State Street Bank and Trust Company
State Street Financial Center
1 Lincoln Street
Boston, MA 02111-2900
This report is for the information of the shareholders of HC Capital Trust. Its use in connection with any offering of the Trust’s shares is authorized only in case of a concurrent or prior delivery of the Trust’s current prospectus. The prospectus contains more complete information, including investment objectives, risks, fees and expenses and should be read carefully before investing or sending any money.
2/14
Item 2. Code of Ethics.
Not Applicable
Item 3. Audit Committee Financial Expert.
Not Applicable
Item 4. Principal Accountant Fees and Services.
Not applicable
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Schedule of Investments.
(a) Not applicable.
(b) Not applicable.
(b)(1) Not applicable.
(b)(2) Not applicable.
(b)(3) Not applicable.
(b)(4) Not applicable.
(b)(5) Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
Not Applicable
Item 11. Controls and Procedures.
(a)The registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this report, that these disclosure controls and procedures are adequately designed and are operating effectively to ensure that information required to be disclosed by the registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.
(b)There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the second fiscal quarter of the period covered by this report that have materially affected or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Exhibits.
(a)(1) Not applicable.
(a)(2) Certifications pursuant to Rule 30a-2(a) are attached hereto.
(a)(3) Not applicable.
(b) Certifications pursuant to Rule 30a-2(b) are furnished herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) HC Capital Trust
By (Signature and Title) /s/ Robert J. Zion
Robert J. Zion, Principal Executive Officer
Date: March 7, 2014
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) /s/ Colette L. Bergman
Colette L. Bergman, Principal Financial Officer
Date: March 7, 2014
By (Signature and Title) /s/ Robert J. Zion
Robert J. Zion, Principal Executive Officer
Date: March 7, 2014