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, 2014
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 Inflation Protected 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, 2014
December 31, 2014
We are pleased to present the December 31, 2014 Semiannual Report for the HC Capital Trust (the “Trust”).
The Trust is a diversified open-end management investment company. The Trust currently consists of twenty 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, consistent with the preservation of capital, 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 Inflation Protected Securities Portfolio, seeks to provide inflation protection and income consistent with investment in inflation-indexed 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, consistent with the preservation of capital, 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, consistent with the preservation of capital, exempt from Federal income tax by investing in securities issued by municipalities and related entities.
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 84.45% | ||||||||
Aerospace & Defense — 2.14% | ||||||||
8,046 | Exelis, Inc. | $ | 141 | |||||
17,423 | Honeywell International, Inc. | 1,741 | ||||||
23,497 | L-3 Communications Holdings, Inc. | 2,966 | ||||||
11,436 | Lockheed Martin Corp. | 2,202 | ||||||
12,651 | Raytheon Co. | 1,368 | ||||||
42,439 | The Boeing Co. | 5,516 | ||||||
13,934 | ||||||||
Air Freight & Logistics — 0.41% | ||||||||
24,138 | United Parcel Service, Inc., Class – B | 2,683 | ||||||
Airlines — 0.97% | ||||||||
4,856 | Copa Holdings SA, Class – A | 503 | ||||||
118,413 | Delta Air Lines, Inc. | 5,825 | ||||||
6,328 | ||||||||
Auto Components — 0.63% | ||||||||
59,252 | Johnson Controls, Inc. | 2,864 | ||||||
12,500 | Lear Corp. | 1,226 | ||||||
4,090 | ||||||||
Automobiles — 2.11% | ||||||||
658,224 | Ford Motor Co. | 10,202 | ||||||
100,571 | General Motors Co. | 3,511 | ||||||
13,713 | ||||||||
Banks — 4.94% | ||||||||
7,412 | Associated Banc-Corp. | 138 | ||||||
611,040 | Bank of America Corp. | 10,932 | ||||||
1,751 | Bank of Hawaii Corp. | 104 | ||||||
6,671 | BankUnited, Inc. | 193 | ||||||
30,497 | BB&T Corp. | 1,186 | ||||||
1,721 | BOK Financial Corp. | 103 | ||||||
30,800 | Citigroup, Inc. | 1,667 | ||||||
2,575 | Cullen/Frost Bankers, Inc. | 182 | ||||||
14,806 | First Niagara Financial Group, Inc. | 125 | ||||||
8,784 | Fulton Financial Corp. | 109 | ||||||
52,701 | JPMorgan Chase & Co. | 3,298 | ||||||
4,992 | M&T Bank Corp. | 627 | ||||||
6,504 | PacWest Bancorp | 296 | ||||||
40,045 | PNC Financial Services Group, Inc. | 3,653 | ||||||
174,267 | Wells Fargo & Co. | 9,553 | ||||||
32,166 | ||||||||
Beverages — 1.19% | ||||||||
16,716 | Coca-Cola Enterprises, Inc. | 739 | ||||||
8,731 | Dr. Pepper Snapple Group, Inc. | 626 | ||||||
33,118 | PepsiCo, Inc. | 3,132 | ||||||
76,848 | The Coca-Cola Co. | 3,244 | ||||||
7,741 | ||||||||
Biotechnology — 0.58% | ||||||||
39,984 | Gilead Sciences, Inc. (a) | 3,769 | ||||||
Capital Markets — 1.18% | ||||||||
1,374 | Artisan Partners Asset Management, Inc. | 69 | ||||||
5,411 | BlackRock, Inc., Class – A | 1,935 | ||||||
5,107 | Eaton Vance Corp. | 209 | ||||||
3,302 | Federated Investors, Inc., Class – B | 109 |
Shares | Security Description | Value (000) | ||||||
Capital Markets (continued) | ||||||||
9,050 | Goldman Sachs Group, Inc. | $ | 1,754 | |||||
19,239 | Invesco Ltd. | 761 | ||||||
5,243 | Lazard Ltd., Class – A | 262 | ||||||
3,534 | LPL Financial Holdings, Inc. | 157 | ||||||
17,649 | Northern Trust Corp. | 1,190 | ||||||
11,478 | T. Rowe Price Group, Inc. | 986 | ||||||
4,721 | Waddell & Reed Financial, Inc., Class – A | 235 | ||||||
7,667 | ||||||||
Chemicals — 3.05% | ||||||||
8,348 | Air Products & Chemicals, Inc. | 1,204 | ||||||
2,526 | CF Industries Holdings, Inc. | 688 | ||||||
35,122 | E.I. du Pont de Nemours & Co. | 2,597 | ||||||
31,124 | Eastman Chemical Co. | 2,361 | ||||||
74,799 | LyondellBasell Industries NV, Class A | 5,939 | ||||||
15,937 | Monsanto Co. | 1,904 | ||||||
2,933 | Rockwood Holdings, Inc. | 231 | ||||||
66,737 | The Dow Chemical Co. | 3,044 | ||||||
37,846 | The Mosaic Co. | 1,728 | ||||||
1,992 | The Scotts Miracle-Gro Co. | 124 | ||||||
19,820 | ||||||||
Commercial Services & Supplies — 0.39% | ||||||||
4,363 | Covanta Holding Corp. | 96 | ||||||
2,809 | Iron Mountain, Inc. | 109 | ||||||
5,652 | KAR Auction Services, Inc. | 196 | ||||||
8,276 | Pitney Bowes, Inc. | 202 | ||||||
11,675 | R.R. Donnelley & Sons Co. | 196 | ||||||
11,623 | Republic Services, Inc., Class – A | 468 | ||||||
11,081 | The ADT Corp. | 401 | ||||||
17,011 | Waste Management, Inc. | 873 | ||||||
2,541 | ||||||||
Communications Equipment — 2.11% | ||||||||
203,641 | Brocade Communications Systems, Inc. | 2,411 | ||||||
116,856 | Cisco Systems, Inc. | 3,250 | ||||||
63,472 | Corning, Inc. | 1,455 | ||||||
29,672 | Harris Corp. | 2,131 | ||||||
60,354 | Qualcomm, Inc. | 4,487 | ||||||
13,734 | ||||||||
Consumer Finance — 2.52% | ||||||||
10,250 | Ameriprise Financial, Inc. | 1,356 | ||||||
98,594 | Capital One Financial Corp. | 8,138 | ||||||
54,806 | Discover Financial Services | 3,589 | ||||||
19,652 | Navient Corp. | 425 | ||||||
287,618 | SLM Corp. | 2,931 | ||||||
16,439 | ||||||||
Containers & Packaging — 0.24% | ||||||||
4,234 | Avery Dennison Corp. | 220 | ||||||
3,588 | Bemis Co., Inc. | 162 | ||||||
4,208 | Greif, Inc., Class – A | 199 | ||||||
6,648 | MeadWestvaco Corp. | 295 | ||||||
19,687 | Owens-Illinois, Inc. (a) | 531 | ||||||
3,925 | Sonoco Products Co. | 172 | ||||||
1,579 |
See accompanying notes to financial statements.
1
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Distributors — 0.10% | ||||||||
5,852 | Genuine Parts Co. | $ | 624 | |||||
Diversified Banks — 0.50% | ||||||||
71,753 | U.S. BanCorp | 3,225 | ||||||
Diversified Chemicals — 0.03% | ||||||||
8,153 | Huntsman Corp. | 186 | ||||||
Diversified Consumer Services — 0.05% | ||||||||
10,132 | H&R Block, Inc. | 341 | ||||||
Diversified Financial Services — 0.31% | ||||||||
12,295 | CME Group, Inc. | 1,090 | ||||||
4,250 | IntercontinentalExchange Group, Inc. | 932 | ||||||
2,022 | ||||||||
Diversified Telecommunication Services — 1.18% | ||||||||
96,674 | AT&T, Inc. | 3,247 | ||||||
24,617 | CenturyLink, Inc. | 974 | ||||||
37,876 | Frontier Communications Corp. | 253 | ||||||
68,642 | Verizon Communications, Inc. | 3,211 | ||||||
7,685 | ||||||||
Electric Utilities — 1.51% | ||||||||
32,541 | American Electric Power, Inc. | 1,976 | ||||||
5,803 | Duke Energy Corp. | 485 | ||||||
64,568 | Edison International | 4,227 | ||||||
1,264 | Entergy Corp. | 111 | ||||||
35,668 | Exelon Corp. | 1,323 | ||||||
3,137 | FirstEnergy Corp. | 122 | ||||||
1,273 | Great Plains Energy, Inc. | 36 | ||||||
709 | Hawaiian Electric Industries, Inc. | 24 | ||||||
3,773 | NextEra Energy, Inc. | 401 | ||||||
2,643 | Northeast Utilities | 141 | ||||||
2,157 | OGE Energy Corp. | 77 | ||||||
2,073 | Pepco Holdings, Inc. | 56 | ||||||
840 | Pinnacle West Capital Corp. | 57 | ||||||
5,585 | PPL Corp. | 203 | ||||||
7,630 | The Southern Co. | 375 | ||||||
1,072 | Westar Energy, Inc. | 44 | ||||||
4,245 | Xcel Energy, Inc. | 152 | ||||||
9,810 | ||||||||
Electrical Equipment — 0.84% | ||||||||
21,663 | Eaton Corp. PLC | 1,472 | ||||||
53,616 | Emerson Electric Co. | 3,309 | ||||||
6,156 | Rockwell Automation, Inc. | 685 | ||||||
5,466 | ||||||||
Energy Equipment & Services — 0.81% | ||||||||
3,562 | Atwood Oceanics, Inc. (a) | 101 | ||||||
15,900 | Cameron International Corp. (a) | 794 | ||||||
1,894 | Franks International NV | 31 | ||||||
14,483 | Helmerich & Payne, Inc. | 976 | ||||||
50,344 | National Oilwell Varco, Inc. | 3,300 | ||||||
5,840 | Patterson-UTI Energy, Inc. | 97 | ||||||
5,299 |
Shares | Security Description | Value (000) | ||||||
Food & Staples Retailing — 1.68% | ||||||||
22,900 | CVS Caremark Corp. | $ | 2,205 | |||||
20,987 | Sysco Corp. | 833 | ||||||
73,383 | The Kroger Co. | 4,712 | ||||||
37,142 | Wal-Mart Stores, Inc. | 3,190 | ||||||
10,940 | ||||||||
Food Products — 1.46% | ||||||||
7,068 | Campbell Soup Co. | 311 | ||||||
14,146 | ConAgra Foods, Inc. | 513 | ||||||
7,641 | Flowers Foods, Inc. | 147 | ||||||
28,451 | General Mills, Inc. | 1,517 | ||||||
6,060 | Hershey Co. | 630 | ||||||
41,373 | Ingredion, Inc. | 3,510 | ||||||
10,935 | Kellogg Co. | 716 | ||||||
24,065 | Kraft Foods Group, Inc. | 1,508 | ||||||
1,952 | Pinnacle Foods, Inc. | 69 | ||||||
5,748 | The J.M. Smucker Co. | 580 | ||||||
9,501 | ||||||||
Food Retail — 0.06% | ||||||||
11,171 | Safeway, Inc. | 392 | ||||||
Gas Utilities — 0.58% | ||||||||
1,093 | AGL Resources, Inc. | 60 | ||||||
871 | Atmos Energy Corp. | 49 | ||||||
806 | National Fuel Gas Co. | 56 | ||||||
1,678 | Questar Corp. | 42 | ||||||
93,368 | UGI Corp. | 3,546 | ||||||
3,753 | ||||||||
Health Care Equipment & Supplies — 0.53% | ||||||||
24,126 | Baxter International, Inc. | 1,768 | ||||||
17,252 | Covidien PLC | 1,765 | ||||||
3,533 | ||||||||
Health Care Providers & Services — 2.58% | ||||||||
51,738 | Aetna, Inc. | 4,596 | ||||||
73,653 | Anthem, Inc. | 9,256 | ||||||
16,250 | Express Scripts Holding Co. (a) | 1,376 | ||||||
15,450 | UnitedHealth Group, Inc. | 1,562 | ||||||
16,790 | ||||||||
Hotels, Restaurants & Leisure — 1.78% | ||||||||
18,034 | Carnival Corp. | 818 | ||||||
5,313 | Darden Restaurants, Inc. | 312 | ||||||
10,484 | International Game Technology | 181 | ||||||
69,414 | Las Vegas Sands Corp. | 4,037 | ||||||
35,245 | McDonald's Corp. | 3,302 | ||||||
15,049 | SeaWorld Entertainment, Inc. | 269 | ||||||
2,942 | Six Flags Entertainment Corp. | 127 | ||||||
4,073 | Wynn Resorts Ltd. | 606 | ||||||
26,848 | YUM! Brands, Inc. | 1,956 | ||||||
11,608 |
See accompanying notes to financial statements.
2
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Household Durables — 0.48% | ||||||||
4,937 | Garmin Ltd. | $ | 261 | |||||
4,969 | Leggett & Platt, Inc. | 212 | ||||||
3,750 | Mohawk Industries, Inc. (a) | 583 | ||||||
46,553 | PulteGroup, Inc. | 999 | ||||||
17,160 | Tupperware Brands Corp. | 1,080 | ||||||
3,135 | ||||||||
Household Products — 0.84% | ||||||||
15,546 | Kimberly-Clark Corp. | 1,796 | ||||||
5,002 | The Clorox Co. | 521 | ||||||
34,953 | The Procter & Gamble Co. | 3,184 | ||||||
5,501 | ||||||||
Independent Power and Renewable Electricity Producers — 0.65% | ||||||||
192,600 | Calpine Corp. (a) | 4,262 | ||||||
Industrial Conglomerates — 1.36% | ||||||||
19,878 | 3M Co. | 3,266 | ||||||
221,337 | General Electric Co. | 5,594 | ||||||
8,860 | ||||||||
Industrial Machinery — 0.02% | ||||||||
2,067 | Crane Co. | 121 | ||||||
Insurance — 6.58% | ||||||||
24,237 | ACE Ltd. | 2,784 | ||||||
54,194 | Aflac, Inc. | 3,311 | ||||||
7,136 | Allied World Assurance Co. Holdings AG | 271 | ||||||
100,490 | Allstate Corp. | 7,059 | ||||||
47,879 | American Financial Group, Inc. | 2,907 | ||||||
94,012 | American International Group, Inc. | 5,266 | ||||||
45,300 | Aon PLC | 4,295 | ||||||
6,128 | Arthur J. Gallagher & Co. | 289 | ||||||
30,600 | Aspen Insurance Holdings Ltd. | 1,339 | ||||||
25,590 | Assurant, Inc. | 1,751 | ||||||
4,916 | AXIS Capital Holdings Ltd. | 251 | ||||||
6,697 | Cincinnati Financial Corp. | 347 | ||||||
1,070 | CNA Financial Corp. | 41 | ||||||
1,676 | Endurance Specialty Holdings Ltd. | 100 | ||||||
2,050 | Everest Re Group Ltd. | 349 | ||||||
10,401 | FNF Group | 358 | ||||||
1,870 | Hanover Insurance Group, Inc. | 133 | ||||||
4,644 | HCC Insurance Holdings, Inc. | 249 | ||||||
1,018 | Mercury General Corp. | 58 | ||||||
11,555 | Old Republic International Corp. | 169 | ||||||
52,435 | PartnerRe Ltd. | 5,985 | ||||||
19,564 | Principal Financial Group, Inc. | 1,016 | ||||||
2,761 | ProAssurance Corp. | 125 | ||||||
19,527 | Prudential Financial, Inc. | 1,766 | ||||||
9,666 | The Chubb Corp. | 1,000 | ||||||
14,539 | The Travelers Cos., Inc. | 1,539 | ||||||
3,962 | Validus Holdings Ltd. | 165 | ||||||
42,923 |
Shares | Security Description | Value (000) | ||||||
IT Services — 2.17% | ||||||||
28,128 | Accenture PLC, Class – A | $ | 2,512 | |||||
19,749 | Automatic Data Processing, Inc. | 1,646 | ||||||
47,700 | Booz Allen Hamilton Holding Corp. | 1,265 | ||||||
4,770 | Broadridge Financial Solutions, Inc. | 220 | ||||||
20,370 | International Business Machines Corp. | 3,269 | ||||||
2,856 | Leidos Holdings, Inc. | 124 | ||||||
11,483 | Paychex, Inc. | 530 | ||||||
26,142 | Western Union Co. | 468 | ||||||
294,278 | Xerox Corp. | 4,080 | ||||||
14,114 | ||||||||
Leisure Products — 0.34% | ||||||||
4,795 | Hasbro, Inc. | 264 | ||||||
62,133 | Mattel, Inc. | 1,922 | ||||||
2,186 | ||||||||
Life & Health Insurance — 0.50% | ||||||||
60,329 | MetLife, Inc. | 3,263 | ||||||
Machinery — 2.46% | ||||||||
59,692 | Caterpillar, Inc. | 5,464 | ||||||
13,682 | Cummins, Inc. | 1,973 | ||||||
18,382 | Deere & Co. | 1,626 | ||||||
31,640 | Dover Corp. | 2,269 | ||||||
88,448 | ITT Corp. | 3,579 | ||||||
3,550 | Pentair PLC | 236 | ||||||
6,402 | Stanley Black & Decker, Inc. | 615 | ||||||
5,420 | The Timken Co. | 231 | ||||||
15,993 | ||||||||
Media — 3.02% | ||||||||
7,905 | Cablevision Systems Corp., Class – A | 163 | ||||||
4,284 | Cinemark Holdings, Inc. | 152 | ||||||
44,500 | Comcast Corp. | 2,581 | ||||||
10,085 | Gannett Co., Inc. | 322 | ||||||
97,386 | Liberty Global PLC, Series C (a) | 4,704 | ||||||
17,000 | Liberty Media Corp., Class – C (a) | 596 | ||||||
30,788 | Omnicom Group, Inc. | 2,385 | ||||||
3,184 | Regal Entertainment Group, Class – A | 68 | ||||||
13,507 | Thomson Reuters Corp. | 545 | ||||||
68,753 | Time Warner, Inc. | 5,874 | ||||||
22,753 | Time, Inc. | 560 | ||||||
22,991 | Viacom, Inc., Class – B | 1,730 | ||||||
19,680 | ||||||||
Metals & Mining — 0.67% | ||||||||
4,389 | Allegheny Technologies, Inc. | 153 | ||||||
6,194 | Cliffs Natural Resources, Inc. ˆ | 44 | ||||||
4,452 | Compass Minerals International, Inc. | 387 | ||||||
118,527 | Freeport-McMoRan Copper & Gold, Inc. | 2,768 | ||||||
12,920 | Nucor Corp. | 633 | ||||||
3,455 | Reliance Steel & Aluminum Co. | 212 | ||||||
9,703 | Steel Dynamics, Inc. | 192 | ||||||
4,389 |
See accompanying notes to financial statements.
3
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Multiline Retail — 1.13% | ||||||||
13,400 | Dillard's, Inc., Class – A | $ | 1,677 | |||||
40,444 | Dollar General Corp. (a) | 2,860 | ||||||
9,695 | Kohl's Corp. | 592 | ||||||
29,460 | Target Corp. | 2,236 | ||||||
7,365 | ||||||||
Multi-Utilities — 0.31% | ||||||||
943 | Alliant Energy Corp. | 63 | ||||||
1,905 | Ameren Corp. | 88 | ||||||
4,711 | CenterPoint Energy, Inc. | 110 | ||||||
2,032 | CMS Energy Corp. | 71 | ||||||
2,478 | Consolidated Edison, Inc. | 164 | ||||||
5,109 | Dominion Resources, Inc. | 392 | ||||||
1,456 | DTE Energy Co. | 126 | ||||||
597 | Integrys Energy Group, Inc. | 46 | ||||||
2,197 | MDU Resources Group, Inc. | 52 | ||||||
2,750 | NiSource, Inc. | 117 | ||||||
3,242 | PG&E Corp. | 173 | ||||||
3,790 | Public Service Enterprise Group, Inc. | 157 | ||||||
1,203 | SCANA Corp. | 73 | ||||||
2,050 | Sempra Energy | 227 | ||||||
1,883 | TECO Energy, Inc. | 39 | ||||||
713 | Vectren Corp. | 33 | ||||||
2,167 | Wisconsin Energy Corp. | 114 | ||||||
2,045 | ||||||||
Oil & Gas Equipment & Services — 0.02% | ||||||||
2,733 | RPC, Inc. | 36 | ||||||
2,757 | Tidewater, Inc. | 89 | ||||||
125 | ||||||||
Oil, Gas & Consumable Fuels — 8.90% | ||||||||
30,912 | Chevron Corp. | 3,468 | ||||||
50,539 | ConocoPhillips | 3,490 | ||||||
978 | CVR Energy, Inc. | 38 | ||||||
33,350 | Encana Corp. | 463 | ||||||
35,877 | Exxon Mobil Corp. | 3,317 | ||||||
2,687 | Golar LNG Ltd. | 98 | ||||||
120,150 | Hess Corp. | 8,868 | ||||||
11,014 | HollyFrontier Corp. | 413 | ||||||
27,503 | Kinder Morgan, Inc. | 1,164 | ||||||
41,041 | Marathon Oil Corp. | 1,161 | ||||||
52,255 | Marathon Petroleum Corp. | 4,717 | ||||||
85,034 | Murphy Oil Corp. | 4,296 | ||||||
151,171 | Occidental Petroleum Corp. | 12,185 | ||||||
15,808 | ONEOK, Inc. | 787 | ||||||
3,023 | PBF Energy, Inc. | 81 | ||||||
13,643 | Peabody Energy Corp. | 106 | ||||||
37,619 | Phillips 66 | 2,697 | ||||||
15,000 | SM Energy Co. | 579 | ||||||
40,598 | Spectra Energy Corp. | 1,474 | ||||||
1,526 | Targa Resources Corp. | 162 | ||||||
1,985 | Teekay Shipping Corp. | 101 |
Shares | Security Description | Value (000) | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
49,665 | The Williams Cos., Inc. | $ | 2,232 | |||||
121,347 | Valero Energy Corp. | 6,007 | ||||||
57,904 | ||||||||
Paper & Forest Products — 0.11% | ||||||||
9,600 | Domtar Corp. | 386 | ||||||
8,353 | Weyerhaeuser Co. | 300 | ||||||
686 | ||||||||
Paper Products — 0.17% | ||||||||
21,013 | International Paper Co. | 1,126 | ||||||
Personal Products — 0.05% | ||||||||
17,563 | Avon Products, Inc. | 165 | ||||||
4,091 | Nu Skin Enterprises, Inc., Class – A | 179 | ||||||
344 | ||||||||
Pharmaceuticals — 5.04% | ||||||||
47,513 | AbbVie, Inc. | 3,109 | ||||||
2,150 | Actavis, Inc. PLC (a) | 553 | ||||||
69,449 | Bristol-Myers Squibb Co. | 4,100 | ||||||
36,704 | Eli Lilly & Co. | 2,532 | ||||||
29,990 | Johnson & Johnson | 3,136 | ||||||
54,744 | Merck & Co., Inc. | 3,109 | ||||||
478,704 | Pfizer, Inc. | 14,912 | ||||||
9,150 | Valeant Pharmaceuticals International, Inc.(a) | 1,309 | ||||||
32,760 | ||||||||
Professional Services — 0.10% | ||||||||
14,167 | Nielsen Holdings NV | 634 | ||||||
Real Estate Investment Trusts — 1.37% | ||||||||
1,086 | Alexandria Real Estate Equities, Inc. | 96 | ||||||
1,442 | American Campus Communities, Inc. | 60 | ||||||
8,550 | American Tower Corp. | 846 | ||||||
2,213 | Apartment Investment & Management Co., Class – A | 82 | ||||||
1,676 | AvalonBay Communities, Inc. | 274 | ||||||
3,044 | BioMed Realty Trust, Inc. | 66 | ||||||
2,410 | Brandywine Realty Trust | 39 | ||||||
694 | Brixmor Property Group, Inc. | 17 | ||||||
1,243 | Camden Property Trust | 92 | ||||||
2,705 | CBL & Associates Properties, Inc. | 53 | ||||||
2,057 | Columbia Property Trust, Inc. | 52 | ||||||
1,205 | Corporate Office Properties Trust | 34 | ||||||
1,679 | Corrections Corp. of America | 61 | ||||||
4,819 | Crown Castle International Corp. | 379 | ||||||
4,567 | DDR Corp. | 84 | ||||||
2,155 | Digital Realty Trust, Inc. | 143 | ||||||
2,336 | Douglas Emmett, Inc. | 66 | ||||||
4,228 | Duke Realty Corp. | 85 | ||||||
1,194 | Equity Lifestyle Properties, Inc. | 62 | ||||||
5,213 | Equity Residential | 375 | ||||||
908 | Essex Property Trust, Inc. | 188 | ||||||
1,774 | Extra Space Storage, Inc. | 104 | ||||||
962 | Federal Realty Investment Trust | 128 |
See accompanying notes to financial statements.
4
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Real Estate Investment Trusts (continued) | ||||||||
1,217 | Gaming And Leisure Properties, Inc. | $ | 36 | |||||
8,592 | General Growth Properties, Inc. | 242 | ||||||
6,623 | HCP, Inc. | 292 | ||||||
4,084 | Health Care REIT, Inc. | 309 | ||||||
1,488 | Healthcare Trust of America, Inc., Class – A | 40 | ||||||
808 | Home Properties, Inc. | 53 | ||||||
2,162 | Hospitality Properties Trust | 67 | ||||||
12,017 | Host Hotels & Resorts, Inc. | 286 | ||||||
6,221 | Kimco Realty Corp. | 156 | ||||||
7,830 | Lamar Advertising Co., Class – A | 420 | ||||||
2,074 | Liberty Property Trust | 78 | ||||||
5,798 | MFA Financial, Inc. | 46 | ||||||
1,058 | Mid-America Apartment Communities, Inc. | 79 | ||||||
1,772 | National Retail Properties, Inc. | 70 | ||||||
3,437 | NorthStar Realty Finance Corp. | 60 | ||||||
1,718 | OMEGA Healthcare Investors, Inc. | 67 | ||||||
2,515 | Piedmont Office Realty Trust, Inc., Class – A | 47 | ||||||
785 | Post Properties, Inc. | 46 | ||||||
7,001 | Prologis, Inc. | 301 | ||||||
2,226 | Public Storage | 411 | ||||||
3,204 | Realty Income Corp. | 153 | ||||||
1,145 | Regency Centers Corp. | 73 | ||||||
3,000 | Retail Properties of America, Inc., Class – A | 50 | ||||||
3,397 | Senior Housing Properties Trust | 75 | ||||||
4,630 | Simon Property Group, Inc. | 843 | ||||||
5,329 | Spirit Realty Capital, Inc. | 63 | ||||||
3,304 | Starwood Property Trust, Inc. | 77 | ||||||
913 | Taubman Centers, Inc. | 70 | ||||||
2,132 | The Macerich Co. | 178 | ||||||
5,390 | Two Harbors Investment Corp. | 54 | ||||||
3,585 | UDR, Inc. | 110 | ||||||
4,056 | Ventas, Inc. | 291 | ||||||
2,238 | Vornado Realty Trust | 263 | ||||||
1,619 | Weingarten Realty Investors | 57 | ||||||
1,428 | WP Carey, Inc. | 100 | ||||||
8,949 | ||||||||
Regional Banks — 0.12% | ||||||||
39,538 | Fifth Third Bancorp | 806 | ||||||
Restaurants — 0.02% | ||||||||
12,783 | The Wendy's Co. | 115 | ||||||
Retail Real Estate Investment Trusts — 0.01% | ||||||||
1,444 | Tanger Factory Outlet Centers, Inc. | 53 | ||||||
Road & Rail — 0.24% | ||||||||
14,319 | Norfolk Southern Corp. | 1,570 | ||||||
Semiconductors — 0.08% | ||||||||
11,387 | Xilinx, Inc. | 493 | ||||||
Semiconductors & Semiconductor Equipment — 2.06% | ||||||||
12,393 | Analog Devices, Inc. | 688 | ||||||
95,451 | Applied Materials, Inc. | 2,379 |
Shares | Security Description | Value (000) | ||||||
Semiconductors & Semiconductor Equipment (continued) | ||||||||
8,600 | ASML Holding NV, NYS | $ | 927 | |||||
13,100 | Broadcom Corp. | 568 | ||||||
86,796 | Intel Corp. | 3,150 | ||||||
7,373 | KLA-Tencor Corp. | 518 | ||||||
9,341 | Linear Technology Corp. | 426 | ||||||
12,014 | Maxim Integrated Products, Inc. | 383 | ||||||
8,747 | Microchip Technology, Inc. | 395 | ||||||
75,149 | Texas Instruments, Inc. | 4,017 | ||||||
13,451 | ||||||||
Software — 2.94% | ||||||||
13,577 | CA, Inc. | 413 | ||||||
113,183 | Electronic Arts, Inc. (a) | 5,321 | ||||||
223,133 | Microsoft Corp. | 10,365 | ||||||
52,274 | Oracle Corp. | 2,351 | ||||||
27,961 | Symantec Corp. | 717 | ||||||
19,167 | ||||||||
Specialized Real Estate Investment Trusts — 0.03% | ||||||||
2,582 | Plum Creek Timber Co., Inc. | 110 | ||||||
1,959 | Rayonier, Inc. | 55 | ||||||
165 | ||||||||
Specialty Retail — 1.81% | ||||||||
3,237 | Abercrombie & Fitch Co., Class – A | 93 | ||||||
76,623 | Foot Locker, Inc. | 4,305 | ||||||
129,977 | GameStop Corp., Class – A ˆ | 4,393 | ||||||
291,116 | Office Depot, Inc. (a) | 2,496 | ||||||
26,140 | Staples, Inc. | 474 | ||||||
11,761 | ||||||||
Technology Hardware, Storage & Peripherals — 2.01% | ||||||||
2,963 | Diebold, Inc. | 103 | ||||||
297,076 | Hewlett-Packard Co. | 11,921 | ||||||
3,111 | Lexmark International, Inc., Class – A | 128 | ||||||
23,300 | NetApp, Inc. | 966 | ||||||
13,118 | ||||||||
Textiles, Apparel & Luxury Goods — 0.40% | ||||||||
69,895 | Coach, Inc. | 2,625 | ||||||
Thrifts & Mortgage Finance — 0.08% | ||||||||
18,407 | New York Community Bancorp, Inc. | 294 | ||||||
13,830 | People's United Financial, Inc. | 210 | ||||||
504 | ||||||||
Tobacco — 1.20% | ||||||||
62,971 | Altria Group, Inc. | 3,102 | ||||||
13,816 | Lorillard, Inc. | 870 | ||||||
37,813 | Philip Morris International, Inc. | 3,080 | ||||||
11,889 | Reynolds American, Inc. | 764 | ||||||
7,816 | ||||||||
Trading Companies & Distributors — 0.11% | ||||||||
12,869 | Fastenal Co. | 612 | ||||||
2,048 | GATX Corp. | 118 | ||||||
730 |
See accompanying notes to financial statements.
5
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Common Stocks (concluded) | ||||||||
Water Utilities — 0.02% | ||||||||
1,547 | American Water Works Co., Inc. | $ | 83 | |||||
1,626 | Aqua America, Inc. | 43 | ||||||
126 | ||||||||
Wireless Telecommunication Services — 0.57% | ||||||||
3,653 | Telephone & Data Systems, Inc. | 92 | ||||||
106,460 | Vodafone Group PLC, ADR | 3,638 | ||||||
3,730 | ||||||||
Total Common Stocks | 549,974 | |||||||
Time Deposit — 0.30% | ||||||||
$1,956 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/15 | 1,956 | ||||||
Total Time Deposit | 1,956 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Mutual Fund — 9.90% | ||||||||
64,462,661 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (b) | $ | 64,463 | |||||
Total Mutual Fund | 64,463 | |||||||
Total Investments (cost $502,123) — 94.65% | 616,393 | |||||||
Other assets in excess of liabilities — 5.35 | % | 34,870 | ||||||
Net Assets — 100.00% | $ | 651,263 |
ˆ | All or part of this security was on loan as of December 31, 2014. The total value of securities on loan as of December 31, 2014, was $4,194 (amount in thousands). |
(a) | Represents non-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2014. |
ADR — American Depositary Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of 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 | HC Capital Solutions | Total | |||||||||||||||
Common Stocks | 36.07 | % | 39.99 | % | 8.39 | % | — | 84.45 | % | |||||||||||
Time Deposit | 0.13 | % | — | 0.17 | % | — | 0.30 | % | ||||||||||||
Mutual Fund | — | — | — | 9.90 | % | 9.90 | % | |||||||||||||
Other Assets (Liabilities) | 0.01 | % | 0.25 | % | —0.12 | % | 5.21 | % | 5.35 | % | ||||||||||
Total Net Assets | 36.21 | % | 40.24 | % | 8.44 | % | 15.11 | % | 100.00 | % |
See accompanying notes to financial statements.
6
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 84.31% | ||||||||
Aerospace & Defense — 1.87% | ||||||||
13,506 | Exelis, Inc. | $ | 237 | |||||
11,794 | Honeywell International, Inc. | 1,178 | ||||||
40,149 | L-3 Communications Holdings, Inc. | 5,067 | ||||||
19,197 | Lockheed Martin Corp. | 3,697 | ||||||
21,235 | Raytheon Co. | 2,297 | ||||||
54,169 | The Boeing Co. | 7,041 | ||||||
19,517 | ||||||||
Air Freight & Logistics — 0.43% | ||||||||
40,518 | United Parcel Service, Inc., Class – B | 4,504 | ||||||
Airlines — 1.03% | ||||||||
8,150 | Copa Holdings SA, Class – A | 845 | ||||||
202,327 | Delta Air Lines, Inc. | 9,952 | ||||||
10,797 | ||||||||
Auto Components — 0.51% | ||||||||
66,956 | Johnson Controls, Inc. | 3,236 | ||||||
21,419 | Lear Corp. | 2,101 | ||||||
5,337 | ||||||||
Automobiles — 2.13% | ||||||||
1,052,738 | Ford Motor Co. | 16,318 | ||||||
168,816 | General Motors Co. | 5,893 | ||||||
22,211 | ||||||||
Banks — 4.71% | ||||||||
12,442 | Associated Banc-Corp. | 232 | ||||||
923,191 | Bank of America Corp. | 16,517 | ||||||
2,939 | Bank of Hawaii Corp. | 174 | ||||||
11,199 | BankUnited, Inc. | 324 | ||||||
51,190 | BB&T Corp. | 1,991 | ||||||
2,888 | BOK Financial Corp. | 173 | ||||||
20,800 | Citigroup, Inc. | 1,125 | ||||||
4,323 | Cullen/Frost Bankers, Inc. | 305 | ||||||
24,852 | First Niagara Financial Group, Inc. | 210 | ||||||
14,745 | Fulton Financial Corp. | 182 | ||||||
88,462 | JPMorgan Chase & Co. | 5,536 | ||||||
8,380 | M&T Bank Corp. | 1,053 | ||||||
10,918 | PacWest Bancorp | 496 | ||||||
48,885 | PNC Financial Services Group, Inc. | 4,460 | ||||||
295,999 | Wells Fargo & Co. | 16,227 | ||||||
49,005 | ||||||||
Beverages — 1.25% | ||||||||
28,061 | Coca-Cola Enterprises, Inc. | 1,241 | ||||||
14,656 | Dr. Pepper Snapple Group, Inc. | 1,051 | ||||||
55,591 | PepsiCo, Inc. | 5,257 | ||||||
128,995 | The Coca-Cola Co. | 5,445 | ||||||
12,994 |
Shares | Security Description | Value (000) | ||||||
Biotechnology — 0.65% | ||||||||
72,427 | Gilead Sciences, Inc. (a) | $ | 6,827 | |||||
Capital Markets — 0.95% | ||||||||
2,308 | Artisan Partners Asset Management, Inc. | 117 | ||||||
9,082 | BlackRock, Inc., Class – A | 3,247 | ||||||
8,571 | Eaton Vance Corp. | 351 | ||||||
5,543 | Federated Investors, Inc., Class – B | 183 | ||||||
6,100 | Goldman Sachs Group, Inc. | 1,182 | ||||||
32,294 | Invesco Ltd. | 1,277 | ||||||
8,801 | Lazard Ltd., Class – A | 440 | ||||||
5,933 | LPL Financial Holdings, Inc. | 264 | ||||||
11,899 | Northern Trust Corp. | 802 | ||||||
19,267 | T. Rowe Price Group, Inc. | 1,654 | ||||||
7,924 | Waddell & Reed Financial, Inc., Class – A | 395 | ||||||
9,912 | ||||||||
Chemicals — 2.95% | ||||||||
14,013 | Air Products & Chemicals, Inc. | 2,021 | ||||||
4,241 | CF Industries Holdings, Inc. | 1,156 | ||||||
58,955 | E.I. du Pont de Nemours & Co. | 4,359 | ||||||
53,180 | Eastman Chemical Co. | 4,034 | ||||||
126,998 | LyondellBasell Industries NV, Class A | 10,083 | ||||||
10,757 | Monsanto Co. | 1,285 | ||||||
4,923 | Rockwood Holdings, Inc. | 388 | ||||||
112,024 | The Dow Chemical Co. | 5,110 | ||||||
47,891 | The Mosaic Co. | 2,186 | ||||||
3,344 | The Scotts Miracle-Gro Co. | 208 | ||||||
30,830 | ||||||||
Commercial Services & Supplies — 0.41% | ||||||||
7,324 | Covanta Holding Corp. | 161 | ||||||
4,716 | Iron Mountain, Inc. | 182 | ||||||
9,487 | KAR Auction Services, Inc. | 329 | ||||||
13,892 | Pitney Bowes, Inc. | 339 | ||||||
19,598 | R.R. Donnelley & Sons Co. | 329 | ||||||
19,509 | Republic Services, Inc., Class – A | 785 | ||||||
18,601 | The ADT Corp. | 674 | ||||||
28,556 | Waste Management, Inc. | 1,466 | ||||||
4,265 | ||||||||
Communications Equipment — 2.09% | ||||||||
320,500 | Brocade Communications Systems, Inc. | 3,795 | ||||||
196,151 | Cisco Systems, Inc. | 5,456 | ||||||
106,544 | Corning, Inc. | 2,443 | ||||||
53,073 | Harris Corp. | 3,812 | ||||||
85,167 | Qualcomm, Inc. | 6,330 | ||||||
21,836 | ||||||||
Consumer Finance — 2.56% | ||||||||
6,950 | Ameriprise Financial, Inc. | 919 | ||||||
168,462 | Capital One Financial Corp. | 13,906 |
See accompanying notes to financial statements.
7
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Consumer Finance (continued) | ||||||||
93,644 | Discover Financial Services | $ | 6,133 | |||||
32,987 | Navient Corp. | 713 | ||||||
491,439 | SLM Corp. | 5,008 | ||||||
26,679 | ||||||||
Containers & Packaging — 0.20% | ||||||||
7,106 | Avery Dennison Corp. | 369 | ||||||
6,022 | Bemis Co., Inc. | 272 | ||||||
7,063 | Greif, Inc., Class – A | 334 | ||||||
11,160 | MeadWestvaco Corp. | 494 | ||||||
13,289 | Owens-Illinois, Inc. (a) | 359 | ||||||
6,587 | Sonoco Products Co. | 288 | ||||||
2,116 | ||||||||
Distributors — 0.10% | ||||||||
9,823 | Genuine Parts Co. | 1,047 | ||||||
Diversified Banks — 0.52% | ||||||||
120,444 | U.S. BanCorp | 5,414 | ||||||
Diversified Chemicals — 0.03% | ||||||||
13,685 | Huntsman Corp. | 312 | ||||||
Diversified Consumer Services — 0.05% | ||||||||
17,006 | H&R Block, Inc. | 573 | ||||||
Diversified Financial Services — 0.24% | ||||||||
20,639 | CME Group, Inc. | 1,830 | ||||||
2,900 | IntercontinentalExchange Group, Inc. | 636 | ||||||
2,466 | ||||||||
Diversified Telecommunication Services — 1.24% | ||||||||
162,275 | AT&T, Inc. | 5,451 | ||||||
41,321 | CenturyLink, Inc. | 1,635 | ||||||
63,577 | Frontier Communications Corp. | 424 | ||||||
115,220 | Verizon Communications, Inc. | 5,390 | ||||||
12,900 | ||||||||
Electric Utilities — 1.46% | ||||||||
49,278 | American Electric Power, Inc. | 2,992 | ||||||
9,741 | Duke Energy Corp. | 814 | ||||||
110,241 | Edison International | 7,219 | ||||||
2,120 | Entergy Corp. | 185 | ||||||
30,709 | Exelon Corp. | 1,139 | ||||||
5,266 | FirstEnergy Corp. | 205 | ||||||
2,136 | Great Plains Energy, Inc. | 61 | ||||||
1,189 | Hawaiian Electric Industries, Inc. | 40 | ||||||
6,334 | NextEra Energy, Inc. | 673 | ||||||
4,436 | Northeast Utilities | 237 | ||||||
3,621 | OGE Energy Corp. | 128 | ||||||
3,481 | Pepco Holdings, Inc. | 94 | ||||||
1,411 | Pinnacle West Capital Corp. | 96 |
Shares | Security Description | Value (000) | ||||||
Electric Utilities (continued) | ||||||||
9,374 | PPL Corp. | $ | 341 | |||||
12,808 | The Southern Co. | 629 | ||||||
1,801 | Westar Energy, Inc. | 74 | ||||||
7,125 | Xcel Energy, Inc. | 256 | ||||||
15,183 | ||||||||
Electrical Equipment — 0.88% | ||||||||
36,363 | Eaton Corp. PLC | 2,472 | ||||||
89,997 | Emerson Electric Co. | 5,556 | ||||||
10,333 | Rockwell Automation, Inc. | 1,149 | ||||||
9,177 | ||||||||
Energy Equipment & Services — 0.78% | ||||||||
5,979 | Atwood Oceanics, Inc. (a) | 170 | ||||||
10,750 | Cameron International Corp. (a) | 537 | ||||||
3,181 | Franks International NV | 53 | ||||||
24,311 | Helmerich & Payne, Inc. | 1,639 | ||||||
84,505 | National Oilwell Varco, Inc. | 5,537 | ||||||
9,803 | Patterson-UTI Energy, Inc. | 163 | ||||||
8,099 | ||||||||
Food & Staples Retailing — 1.82% | ||||||||
42,904 | CVS Caremark Corp. | 4,132 | ||||||
35,229 | Sysco Corp. | 1,398 | ||||||
125,387 | The Kroger Co. | 8,052 | ||||||
62,346 | Wal-Mart Stores, Inc. | 5,354 | ||||||
18,936 | ||||||||
Food Products — 1.55% | ||||||||
11,865 | Campbell Soup Co. | 522 | ||||||
23,746 | ConAgra Foods, Inc. | 862 | ||||||
12,828 | Flowers Foods, Inc. | 246 | ||||||
47,756 | General Mills, Inc. | 2,547 | ||||||
10,173 | Hershey Co. | 1,057 | ||||||
71,588 | Ingredion, Inc. | 6,073 | ||||||
18,355 | Kellogg Co. | 1,201 | ||||||
40,393 | Kraft Foods Group, Inc. | 2,531 | ||||||
3,278 | Pinnacle Foods, Inc. | 116 | ||||||
9,647 | The J.M. Smucker Co. | 974 | ||||||
16,129 | ||||||||
Food Retail — 0.06% | ||||||||
18,753 | Safeway, Inc. | 659 | ||||||
Gas Utilities — 0.61% | ||||||||
1,836 | AGL Resources, Inc. | 100 | ||||||
1,462 | Atmos Energy Corp. | 81 | ||||||
1,353 | National Fuel Gas Co. | 94 | ||||||
2,818 | Questar Corp. | 71 | ||||||
159,487 | UGI Corp. | 6,058 | ||||||
6,404 |
See accompanying notes to financial statements.
8
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Health Care Equipment & Supplies — 0.39% | ||||||||
40,499 | Baxter International, Inc. | $ | 2,968 | |||||
11,684 | Covidien PLC | 1,195 | ||||||
4,163 | ||||||||
Health Care Providers & Services — 2.46% | ||||||||
88,403 | Aetna, Inc. | 7,853 | ||||||
125,847 | Anthem, Inc. | 15,816 | ||||||
11,000 | Express Scripts Holding Co. (a) | 931 | ||||||
10,450 | UnitedHealth Group, Inc. | 1,056 | ||||||
25,656 | ||||||||
Hotels, Restaurants & Leisure — 1.80% | ||||||||
30,271 | Carnival Corp. | 1,372 | ||||||
8,918 | Darden Restaurants, Inc. | 523 | ||||||
17,599 | International Game Technology | 304 | ||||||
103,665 | Las Vegas Sands Corp. | 6,030 | ||||||
59,162 | McDonald's Corp. | 5,543 | ||||||
25,262 | SeaWorld Entertainment, Inc. | 452 | ||||||
4,939 | Six Flags Entertainment Corp. | 213 | ||||||
6,837 | Wynn Resorts Ltd. | 1,017 | ||||||
45,067 | YUM! Brands, Inc. | 3,283 | ||||||
18,737 | ||||||||
Household Durables — 0.45% | ||||||||
8,287 | Garmin Ltd. | 438 | ||||||
8,341 | Leggett & Platt, Inc. | 355 | ||||||
2,550 | Mohawk Industries, Inc. (a) | 396 | ||||||
78,803 | PulteGroup, Inc. | 1,691 | ||||||
28,805 | Tupperware Brands Corp. | 1,815 | ||||||
4,695 | ||||||||
Household Products — 0.89% | ||||||||
26,096 | Kimberly-Clark Corp. | 3,015 | ||||||
8,396 | The Clorox Co. | 875 | ||||||
58,670 | The Procter & Gamble Co. | 5,344 | ||||||
9,234 | ||||||||
Independent Power and Renewable Electricity Producers — 0.70% | ||||||||
329,087 | Calpine Corp. (a) | 7,283 | ||||||
Industrial Conglomerates — 1.20% | ||||||||
33,366 | 3M Co. | 5,483 | ||||||
276,673 | General Electric Co. | 6,991 | ||||||
12,474 | ||||||||
Industrial Machinery — 0.02% | ||||||||
3,469 | Crane Co. | 204 | ||||||
Insurance — 6.93% | ||||||||
31,446 | ACE Ltd. | 3,613 | ||||||
90,968 | Aflac, Inc. | 5,557 | ||||||
11,978 | Allied World Assurance Co. Holdings AG | 454 |
Shares | Security Description | Value (000) | ||||||
Insurance (continued) | ||||||||
171,706 | Allstate Corp. | $ | 12,062 | |||||
81,809 | American Financial Group, Inc. | 4,967 | ||||||
160,634 | American International Group, Inc. | 8,997 | ||||||
81,229 | Aon PLC | 7,703 | ||||||
10,286 | Arthur J. Gallagher & Co. | 484 | ||||||
49,100 | Aspen Insurance Holdings Ltd. | 2,149 | ||||||
43,724 | Assurant, Inc. | 2,992 | ||||||
8,252 | AXIS Capital Holdings Ltd. | 422 | ||||||
11,241 | Cincinnati Financial Corp. | 583 | ||||||
1,797 | CNA Financial Corp. | 70 | ||||||
2,814 | Endurance Specialty Holdings Ltd. | 168 | ||||||
3,442 | Everest Re Group Ltd. | 586 | ||||||
17,458 | FNF Group | 601 | ||||||
3,138 | Hanover Insurance Group, Inc. | 224 | ||||||
7,796 | HCC Insurance Holdings, Inc. | 417 | ||||||
1,707 | Mercury General Corp. | 97 | ||||||
19,396 | Old Republic International Corp. | 284 | ||||||
89,521 | PartnerRe Ltd. | 10,218 | ||||||
32,839 | Principal Financial Group, Inc. | 1,706 | ||||||
4,635 | ProAssurance Corp. | 209 | ||||||
32,777 | Prudential Financial, Inc. | 2,965 | ||||||
16,358 | The Chubb Corp. | 1,693 | ||||||
24,404 | The Travelers Cos., Inc. | 2,583 | ||||||
6,650 | Validus Holdings Ltd. | 276 | ||||||
72,080 | ||||||||
IT Services — 2.27% | ||||||||
47,215 | Accenture PLC, Class – A | 4,217 | ||||||
33,151 | Automatic Data Processing, Inc. | 2,764 | ||||||
75,899 | Booz Allen Hamilton Holding Corp. | 2,014 | ||||||
8,006 | Broadridge Financial Solutions, Inc. | 370 | ||||||
34,192 | International Business Machines Corp. | 5,485 | ||||||
4,794 | Leidos Holdings, Inc. | 209 | ||||||
19,275 | Paychex, Inc. | 890 | ||||||
43,882 | Western Union Co. | 786 | ||||||
502,819 | Xerox Corp. | 6,968 | ||||||
23,703 | ||||||||
Leisure Products — 0.35% | ||||||||
8,049 | Hasbro, Inc. | 443 | ||||||
104,295 | Mattel, Inc. | 3,227 | ||||||
3,670 | ||||||||
Life & Health Insurance — 0.53% | ||||||||
101,266 | MetLife, Inc. | 5,477 | ||||||
Machinery — 2.52% | ||||||||
100,950 | Caterpillar, Inc. | 9,240 | ||||||
22,966 | Cummins, Inc. | 3,311 | ||||||
30,855 | Deere & Co. | 2,730 |
See accompanying notes to financial statements.
9
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Machinery (continued) | ||||||||
45,908 | Dover Corp. | $ | 3,293 | |||||
151,127 | ITT Corp. | 6,115 | ||||||
2,400 | Pentair PLC | 159 | ||||||
10,746 | Stanley Black & Decker, Inc. | 1,032 | ||||||
9,098 | The Timken Co. | 388 | ||||||
26,268 | ||||||||
Media — 2.52% | ||||||||
13,268 | Cablevision Systems Corp., Class – A | 274 | ||||||
7,192 | Cinemark Holdings, Inc. | 256 | ||||||
30,100 | Comcast Corp. | 1,746 | ||||||
16,928 | Gannett Co., Inc. | 541 | ||||||
166,398 | Liberty Global PLC, Series C (a) | 8,038 | ||||||
11,450 | Liberty Media Corp., Class – C (a) | 401 | ||||||
32,894 | Omnicom Group, Inc. | 2,548 | ||||||
5,274 | Regal Entertainment Group, Class – A | 113 | ||||||
22,674 | Thomson Reuters Corp. | 915 | ||||||
117,474 | Time Warner, Inc. | 10,034 | ||||||
15,371 | Time, Inc. | 378 | ||||||
15,519 | Viacom, Inc., Class – B | 1,168 | ||||||
26,412 | ||||||||
Metals & Mining — 0.71% | ||||||||
7,367 | Allegheny Technologies, Inc. | 256 | ||||||
10,394 | Cliffs Natural Resources, Inc.ˆ | 74 | ||||||
7,472 | Compass Minerals International, Inc. | 649 | ||||||
198,958 | Freeport-McMoRan Copper & Gold, Inc. | 4,648 | ||||||
21,688 | Nucor Corp. | 1,064 | ||||||
5,800 | Reliance Steel & Aluminum Co. | 355 | ||||||
16,289 | Steel Dynamics, Inc. | 322 | ||||||
7,368 | ||||||||
Multiline Retail — 1.16% | ||||||||
22,400 | Dillard's, Inc., Class – A | 2,804 | ||||||
64,468 | Dollar General Corp. (a) | 4,558 | ||||||
16,274 | Kohl's Corp. | 993 | ||||||
49,452 | Target Corp. | 3,754 | ||||||
12,109 | ||||||||
Multi-Utilities — 0.33% | ||||||||
1,583 | Alliant Energy Corp. | 105 | ||||||
3,196 | Ameren Corp. | 147 | ||||||
7,909 | CenterPoint Energy, Inc. | 185 | ||||||
3,411 | CMS Energy Corp. | 119 | ||||||
4,159 | Consolidated Edison, Inc. | 275 | ||||||
8,575 | Dominion Resources, Inc. | 659 | ||||||
2,444 | DTE Energy Co. | 211 | ||||||
1,002 | Integrys Energy Group, Inc. | 78 |
Shares | Security Description | Value (000) | ||||||
Multi-Utilities (continued) | ||||||||
3,687 | MDU Resources Group, Inc. | $ | 87 | |||||
4,615 | NiSource, Inc. | 196 | ||||||
5,441 | PG&E Corp. | 290 | ||||||
6,361 | Public Service Enterprise Group, Inc. | 263 | ||||||
2,019 | SCANA Corp. | 122 | ||||||
3,442 | Sempra Energy | 383 | ||||||
3,161 | TECO Energy, Inc. | 65 | ||||||
1,197 | Vectren Corp. | 55 | ||||||
3,637 | Wisconsin Energy Corp. | 192 | ||||||
3,432 | ||||||||
Oil & Gas Equipment & Services — 0.02% | ||||||||
4,588 | RPC, Inc. | 60 | ||||||
4,627 | Tidewater, Inc. | 150 | ||||||
210 | ||||||||
Oil, Gas & Consumable Fuels — 9.17% | ||||||||
51,888 | Chevron Corp. | 5,821 | ||||||
84,833 | ConocoPhillips | 5,859 | ||||||
1,641 | CVR Energy, Inc. | 64 | ||||||
22,500 | Encana Corp. | 312 | ||||||
60,222 | Exxon Mobil Corp. | 5,568 | ||||||
4,510 | Golar LNG Ltd. | 164 | ||||||
205,223 | Hess Corp. | 15,149 | ||||||
18,487 | HollyFrontier Corp. | 693 | ||||||
46,166 | Kinder Morgan, Inc. | 1,953 | ||||||
68,891 | Marathon Oil Corp. | 1,949 | ||||||
89,443 | Marathon Petroleum Corp. | 8,073 | ||||||
139,651 | Murphy Oil Corp. | 7,055 | ||||||
232,087 | Occidental Petroleum Corp. | 18,708 | ||||||
26,537 | ONEOK, Inc. | 1,321 | ||||||
5,075 | PBF Energy, Inc. | 135 | ||||||
22,899 | Peabody Energy Corp. | 177 | ||||||
63,145 | Phillips 66 | 4,527 | ||||||
26,500 | SM Energy Co. | 1,022 | ||||||
68,146 | Spectra Energy Corp. | 2,474 | ||||||
2,561 | Targa Resources Corp. | 272 | ||||||
3,333 | Teekay Shipping Corp. | 170 | ||||||
83,367 | The Williams Cos., Inc. | 3,747 | ||||||
206,626 | Valero Energy Corp. | 10,228 | ||||||
95,441 | ||||||||
Paper & Forest Products — 0.11% | ||||||||
16,114 | Domtar Corp. | 648 | ||||||
14,021 | Weyerhaeuser Co. | 503 | ||||||
1,151 | ||||||||
Paper Products — 0.18% | ||||||||
35,272 | International Paper Co. | 1,890 |
See accompanying notes to financial statements.
10
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Personal Products — 0.06% | ||||||||
29,479 | Avon Products, Inc. | $ | 277 | |||||
6,868 | Nu Skin Enterprises, Inc., Class – A | 300 | ||||||
577 | ||||||||
Pharmaceuticals — 4.84% | ||||||||
79,754 | AbbVie, Inc. | 5,219 | ||||||
1,450 | Actavis, Inc. PLC (a) | 373 | ||||||
100,332 | Bristol-Myers Squibb Co. | 5,923 | ||||||
61,609 | Eli Lilly & Co. | 4,250 | ||||||
50,341 | Johnson & Johnson | 5,264 | ||||||
91,892 | Merck & Co., Inc. | 5,219 | ||||||
745,050 | Pfizer, Inc. | 23,208 | ||||||
6,200 | Valeant Pharmaceuticals International, Inc. (a) | 887 | ||||||
50,343 | ||||||||
Professional Services — 0.10% | ||||||||
23,781 | Nielsen Holdings NV | 1,064 | ||||||
Real Estate Investment Trusts — 1.36% | ||||||||
1,824 | Alexandria Real Estate Equities, Inc. | 162 | ||||||
2,421 | American Campus Communities, Inc. | 100 | ||||||
5,800 | American Tower Corp. | 573 | ||||||
3,715 | Apartment Investment & Management Co., Class – A | 138 | ||||||
2,814 | AvalonBay Communities, Inc. | 460 | ||||||
5,110 | BioMed Realty Trust, Inc. | 110 | ||||||
4,046 | Brandywine Realty Trust | 65 | ||||||
1,165 | Brixmor Property Group, Inc. | 29 | ||||||
2,085 | Camden Property Trust | 154 | ||||||
4,541 | CBL & Associates Properties, Inc. | 88 | ||||||
3,453 | Columbia Property Trust, Inc. | 88 | ||||||
2,023 | Corporate Office Properties Trust | 57 | ||||||
2,818 | Corrections Corp. of America | 102 | ||||||
8,088 | Crown Castle International Corp. | 637 | ||||||
7,667 | DDR Corp. | 141 | ||||||
3,617 | Digital Realty Trust, Inc. | 240 | ||||||
3,921 | Douglas Emmett, Inc. | 111 | ||||||
7,098 | Duke Realty Corp. | 143 | ||||||
2,003 | Equity Lifestyle Properties, Inc. | 103 | ||||||
8,751 | Equity Residential | 629 | ||||||
1,524 | Essex Property Trust, Inc. | 315 | ||||||
2,978 | Extra Space Storage, Inc. | 175 | ||||||
1,614 | Federal Realty Investment Trust | 215 | ||||||
2,042 | Gaming And Leisure Properties, Inc. | 60 | ||||||
14,422 | General Growth Properties, Inc. | 406 | ||||||
11,117 | HCP, Inc. | 489 | ||||||
6,856 | Health Care REIT, Inc. | 519 |
Shares | Security Description | Value (000) | ||||||
Real Estate Investment Trusts (continued) | ||||||||
2,499 | Healthcare Trust of America, Inc., Class – A | $ | 67 | |||||
1,356 | Home Properties, Inc. | 89 | ||||||
3,629 | Hospitality Properties Trust | 112 | ||||||
20,171 | Host Hotels & Resorts, Inc. | 479 | ||||||
10,442 | Kimco Realty Corp. | 263 | ||||||
13,144 | Lamar Advertising Co., Class – A | 705 | ||||||
3,481 | Liberty Property Trust | 131 | ||||||
9,732 | MFA Financial, Inc. | 78 | ||||||
1,777 | Mid-America Apartment Communities, Inc. | 133 | ||||||
2,974 | National Retail Properties, Inc. | 117 | ||||||
5,769 | NorthStar Realty Finance Corp. | 101 | ||||||
2,884 | OMEGA Healthcare Investors, Inc. | 113 | ||||||
4,221 | Piedmont Office Realty Trust, Inc., Class – A | 80 | ||||||
1,317 | Post Properties, Inc. | 77 | ||||||
11,752 | Prologis, Inc. | 506 | ||||||
3,738 | Public Storage | 691 | ||||||
5,379 | Realty Income Corp. | 257 | ||||||
1,922 | Regency Centers Corp. | 123 | ||||||
5,036 | Retail Properties of America, Inc., Class – A | 84 | ||||||
5,703 | Senior Housing Properties Trust | 126 | ||||||
7,772 | Simon Property Group, Inc. | 1,416 | ||||||
8,945 | Spirit Realty Capital, Inc. | 106 | ||||||
5,547 | Starwood Property Trust, Inc. | 129 | ||||||
1,532 | Taubman Centers, Inc. | 117 | ||||||
3,578 | The Macerich Co. | 298 | ||||||
9,047 | Two Harbors Investment Corp. | 91 | ||||||
6,018 | UDR, Inc. | 185 | ||||||
6,810 | Ventas, Inc. | 488 | ||||||
3,758 | Vornado Realty Trust | 442 | ||||||
2,717 | Weingarten Realty Investors | 95 | ||||||
2,397 | WP Carey, Inc. | 168 | ||||||
14,176 | ||||||||
Regional Banks — 0.13% | ||||||||
66,369 | Fifth Third Bancorp | 1,352 | ||||||
Restaurants — 0.02% | ||||||||
21,457 | The Wendy's Co. | 194 | ||||||
Retail Real Estate Investment Trusts — 0.01% | ||||||||
2,424 | Tanger Factory Outlet Centers, Inc. | 90 | ||||||
Road & Rail — 0.25% | ||||||||
24,034 | Norfolk Southern Corp. | 2,634 | ||||||
Semiconductors — 0.08% | ||||||||
19,115 | Xilinx, Inc. | 827 | ||||||
Semiconductors & Semiconductor Equipment — 1.92% | ||||||||
20,803 | Analog Devices, Inc. | 1,155 |
See accompanying notes to financial statements.
11
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Aerospace & Defense — 1.87% | ||||||||
163,093 | Applied Materials, Inc. | $ | 4,064 | |||||
5,800 | ASML Holding NV, NYS | 625 | ||||||
8,850 | Broadcom Corp. | 383 | ||||||
145,694 | Intel Corp. | 5,287 | ||||||
12,376 | KLA-Tencor Corp. | 870 | ||||||
15,681 | Linear Technology Corp. | 715 | ||||||
20,167 | Maxim Integrated Products, Inc. | 643 | ||||||
14,683 | Microchip Technology, Inc. | 662 | ||||||
105,482 | Texas Instruments, Inc. | 5,641 | ||||||
20,045 | ||||||||
Software — 3.37% | ||||||||
22,791 | CA, Inc. | 694 | ||||||
193,390 | Electronic Arts, Inc. (a) | 9,092 | ||||||
408,855 | Microsoft Corp. | 18,992 | ||||||
113,123 | Oracle Corp. | 5,087 | ||||||
46,934 | Symantec Corp. | 1,204 | ||||||
35,069 | ||||||||
Specialized Real Estate Investment Trusts — 0.03% | ||||||||
4,334 | Plum Creek Timber Co., Inc. | 185 | ||||||
3,290 | Rayonier, Inc. | 92 | ||||||
277 | ||||||||
Specialty Retail — 1.93% | ||||||||
5,434 | Abercrombie & Fitch Co., Class – A | 156 | ||||||
131,881 | Foot Locker, Inc. | 7,409 | ||||||
221,856 | GameStop Corp., Class – A ˆ | 7,498 | ||||||
493,823 | Office Depot, Inc. (a) | 4,235 | ||||||
43,878 | Staples, Inc. | 795 | ||||||
20,093 | ||||||||
Technology Hardware, Storage & Peripherals — 2.05% | ||||||||
4,974 | Diebold, Inc. | 172 | ||||||
507,600 | Hewlett-Packard Co. | 20,370 | ||||||
5,223 | Lexmark International, Inc., Class – A | 216 | ||||||
15,750 | NetApp, Inc. | 653 | ||||||
21,411 | ||||||||
Textiles, Apparel & Luxury Goods — 0.42% | ||||||||
117,325 | Coach, Inc. | 4,407 | ||||||
Thrifts & Mortgage Finance — 0.08% | ||||||||
30,898 | New York Community Bancorp, Inc. | 495 | ||||||
23,215 | People's United Financial, Inc. | 352 | ||||||
847 |
Shares | Security Description | Value (000) | ||||||
Tobacco — 1.26% | ||||||||
105,702 | Altria Group, Inc. | $ | 5,207 | |||||
23,192 | Lorillard, Inc. | 1,460 | ||||||
63,473 | Philip Morris International, Inc. | 5,170 | ||||||
19,957 | Reynolds American, Inc. | 1,283 | ||||||
13,120 | ||||||||
Trading Companies & Distributors — 0.12% | ||||||||
21,602 | Fastenal Co. | 1,027 | ||||||
3,438 | GATX Corp. | 198 | ||||||
1,225 | ||||||||
Water Utilities — 0.02% | ||||||||
2,596 | American Water Works Co., Inc. | 138 | ||||||
2,728 | Aqua America, Inc. | 73 | ||||||
211 | ||||||||
Wireless Telecommunication Services — 0.47% | ||||||||
6,131 | Telephone & Data Systems, Inc. | 155 | ||||||
141,403 | Vodafone Group PLC, ADR | 4,832 | ||||||
4,987 | ||||||||
Total Common Stocks | 878,735 | |||||||
Time Deposit — 0.53% | ||||||||
$5,572 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/15 | 5,572 | ||||||
Total Time Deposit | 5,572 | |||||||
Mutual Funds — 10.17% | ||||||||
597,179 | Dreyfus Treasury Prime Cash Management Fund, 0.00% (b) | 597 | ||||||
105,442,413 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (b) | 105,443 | ||||||
Total Mutual Funds | 106,040 | |||||||
Total Investments (cost $824,665) — 95.01% | 990,347 | |||||||
Other assets in excess of liabilities — 4.99% | 52,013 | |||||||
Net Assets — 100.00 | % | $ | 1,042,360 |
ˆ | All or part of this security was on loan as of December 31, 2014. The total value of securities on loan as of December 31, 2014, was $7,104 (amount in thousands). |
(a) | Represents non-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2014. |
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, 2014 (Unaudited)
The following table reflects the percentage of 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 | AllianceBernstein L.P. | Cadence Capital Management, LLC | Institutional Capital, LLC | HC Capital Solutions | Total | |||||||||||||||
Common Stocks | 38.83 | % | 41.94 | % | 3.54 | % | — | 84.31 | % | |||||||||||
Time Deposit | 0.45 | % | — | 0.08 | % | — | 0.53 | % | ||||||||||||
Mutual Funds | — | 0.06 | % | — | 10.11 | % | 10.17 | % | ||||||||||||
Other Assets (Liabilities) | 0.15 | % | — | -0.05 | % | 4.89 | % | 4.99 | % | |||||||||||
Total Net Assets | 39.43 | % | 42.00 | % | 3.57 | % | 15.00 | % | 100.00 | % |
See accompanying notes to financial statements.
13
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 83.79% | ||||||||
Aerospace & Defense — 1.86% | ||||||||
1,818 | Engility Holdings, Inc. (a) | $ | 78 | |||||
9,779 | General Dynamics Corp. | 1,346 | ||||||
3,026 | L-3 Communications Holdings, Inc. | 382 | ||||||
25,363 | Precision Castparts Corp. | 6,109 | ||||||
4,483 | Rockwell Collins, Inc. | 379 | ||||||
38,249 | The Boeing Co. | 4,972 | ||||||
28,099 | United Technologies Corp. | 3,231 | ||||||
16,497 | ||||||||
Air Freight & Logistics — 0.08% | ||||||||
5,024 | C.H. Robinson Worldwide, Inc. | 376 | ||||||
6,569 | Expeditors International of Washington, Inc. | 293 | ||||||
669 | ||||||||
Auto Components — 0.02% | ||||||||
4,454 | Gentex Corp. | 161 | ||||||
Automobiles — 0.38% | ||||||||
14,959 | Tesla Motors, Inc. (a) | 3,327 | ||||||
Banks — 0.01% | ||||||||
1,553 | Cullen/Frost Bankers, Inc. | 110 | ||||||
Beverages — 1.17% | ||||||||
4,526 | Brown-Forman Corp., Class – B | 398 | ||||||
4,181 | Monster Beverage Corp. (a) | 453 | ||||||
47,946 | PepsiCo, Inc. | 4,534 | ||||||
117,432 | The Coca-Cola Co. | 4,957 | ||||||
10,342 | ||||||||
Biotechnology — 4.98% | ||||||||
27,312 | Alexion Pharmaceuticals, Inc. (a) | 5,054 | ||||||
81,727 | Amgen, Inc. | 13,018 | ||||||
24,080 | Biogen Idec, Inc. (a) | 8,174 | ||||||
50,869 | Celgene Corp. (a) | 5,690 | ||||||
49,060 | Gilead Sciences, Inc. (a) | 4,624 | ||||||
10,279 | Regeneron Pharmaceuticals, Inc. (a) | 4,217 | ||||||
28,023 | Vertex Pharmaceuticals, Inc. (a) | 3,329 | ||||||
44,106 | ||||||||
Capital Markets — 2.10% | ||||||||
3,925 | BlackRock, Inc., Class – A | 1,403 | ||||||
1,960 | Federated Investors, Inc., Class – B | 65 | ||||||
12,885 | Franklin Resources, Inc. | 713 | ||||||
17,901 | Goldman Sachs Group, Inc. | 3,470 | ||||||
114,504 | Morgan Stanley | 4,443 | ||||||
4,225 | SEI Investments Co. | 169 | ||||||
96,116 | State Street Corp. | 7,546 | ||||||
7,877 | T. Rowe Price Group, Inc. | 676 | ||||||
2,675 | Waddell & Reed Financial, Inc., Class – A | 133 | ||||||
18,618 | ||||||||
Chemicals — 2.60% | ||||||||
70,533 | Ecolab, Inc. | 7,372 | ||||||
2,390 | International Flavors & Fragrances, Inc. | 242 | ||||||
109,270 | Monsanto Co. | 13,055 | ||||||
9,240 | Praxair, Inc. | 1,197 | ||||||
3,714 | Sigma-Aldrich Corp. | 510 |
Shares | Security Description | Value (000) | ||||||
Chemicals (continued) | ||||||||
2,626 | The Sherwin-Williams Co. | $ | 691 | |||||
23,067 | ||||||||
Commercial Services & Supplies — 0.11% | ||||||||
3,263 | Cintas Corp. | 256 | ||||||
3,163 | Copart, Inc. (a) | 115 | ||||||
2,020 | Rollins, Inc. | 67 | ||||||
2,572 | Stericycle, Inc. (a) | 338 | ||||||
3,739 | Waste Connections, Inc. | 164 | ||||||
940 | ||||||||
Communications Equipment — 1.49% | ||||||||
167,912 | Cisco Systems, Inc. | 4,670 | ||||||
2,106 | F5 Networks, Inc. (a) | 275 | ||||||
111,594 | Qualcomm, Inc. | 8,295 | ||||||
13,240 | ||||||||
Construction & Engineering — 0.03% | ||||||||
3,540 | AECOM Technology Corp. (a) | 108 | ||||||
3,944 | Jacobs Engineering Group, Inc. (a) | 176 | ||||||
284 | ||||||||
Consumer Finance — 0.96% | ||||||||
91,910 | American Express Co. | 8,551 | ||||||
Containers & Packaging — 0.01% | ||||||||
1,970 | AptarGroup, Inc. | 132 | ||||||
Distributors — 0.06% | ||||||||
4,723 | Genuine Parts Co. | 503 | ||||||
Diversified Consumer Services — 0.01% | ||||||||
3,405 | Apollo Group, Inc., Class – A (a) | 116 | ||||||
891 | ITT Educational Services, Inc.ˆ(a) | 9 | ||||||
125 | ||||||||
Diversified Financial Services — 0.50% | ||||||||
2,656 | CBOE Holdings, Inc. | 168 | ||||||
247 | FNFV Group(a) | 4 | ||||||
2,143 | IntercontinentalExchange Group, Inc. | 470 | ||||||
43,040 | The McGraw-Hill Cos., Inc. | 3,830 | ||||||
4,472 | ||||||||
Electrical Equipment — 0.31% | ||||||||
7,467 | AMETEK, Inc. | 393 | ||||||
3,744 | Eaton Corp. PLC | 254 | ||||||
22,649 | Emerson Electric Co. | 1,398 | ||||||
1,682 | Hubbell, Inc., Class – B | 180 | ||||||
3,060 | Roper Industries, Inc. | 478 | ||||||
2,703 | ||||||||
Electronic Equipment, Instruments & Components — 0.11% | ||||||||
9,994 | Amphenol Corp., Class – A | 538 | ||||||
1,591 | Dolby Laboratories, Inc., Class – A | 69 | ||||||
4,741 | FLIR Systems, Inc. | 153 | ||||||
2,661 | National Instruments Corp. | 83 | ||||||
1,439 | Zebra Technologies Corp. (a) | 111 | ||||||
954 | ||||||||
Energy Equipment & Services — 1.62% | ||||||||
735 | CARBO Ceramics, Inc.ˆ | 29 |
See accompanying notes to financial statements.
14
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Energy Equipment & Services (continued) | ||||||||
7,473 | FMC Technologies, Inc. (a) | $ | 350 | |||||
12,986 | National Oilwell Varco, Inc. | 851 | ||||||
3,328 | Oceaneering International, Inc. | 196 | ||||||
151,099 | Schlumberger Ltd. | 12,905 | ||||||
14,331 | ||||||||
Food & Staples Retailing — 3.06% | ||||||||
57,645 | Costco Wholesale Corp. | 8,171 | ||||||
38,602 | CVS Caremark Corp. | 3,718 | ||||||
18,236 | Sysco Corp. | 724 | ||||||
929 | The Fresh Market, Inc. (a) | 38 | ||||||
26,203 | Walgreens Boots Alliance, Inc. | 1,997 | ||||||
51,620 | Wal-Mart Stores, Inc. | 4,433 | ||||||
159,298 | Whole Foods Market, Inc. | 8,032 | ||||||
27,113 | ||||||||
Food Products — 1.93% | ||||||||
5,278 | Flowers Foods, Inc. | 101 | ||||||
62,750 | Hershey Co. | 6,522 | ||||||
4,122 | Hormel Foods Corp. | 215 | ||||||
7,449 | Kellogg Co. | 487 | ||||||
4,092 | McCormick & Co., Inc. | 304 | ||||||
6,223 | Mead Johnson Nutrition Co. | 626 | ||||||
233,922 | Mondelez International, Inc., Class – A | 8,497 | ||||||
3,431 | The J.M. Smucker Co. | 346 | ||||||
17,098 | ||||||||
Health Care Equipment & Supplies — 2.03% | ||||||||
163,014 | Abbott Laboratories | 7,339 | ||||||
16,903 | Baxter International, Inc. | 1,239 | ||||||
6,256 | Becton, Dickinson & Co. | 871 | ||||||
2,616 | C.R. Bard, Inc. | 436 | ||||||
14,874 | Covidien PLC | 1,522 | ||||||
4,290 | Dentsply International, Inc. | 229 | ||||||
3,300 | Edwards Lifesciences Corp. (a) | 420 | ||||||
1,493 | Halyard Health, Inc. (a) | 68 | ||||||
1,574 | IDEXX Laboratories, Inc. (a) | 233 | ||||||
1,215 | Intuitive Surgical, Inc. (a) | 643 | ||||||
32,015 | Medtronic, Inc. | 2,311 | ||||||
4,339 | ResMed, Inc. | 243 | ||||||
9,608 | St. Jude Medical, Inc. | 625 | ||||||
9,529 | Stryker Corp. | 899 | ||||||
3,437 | Varian Medical Systems, Inc. (a) | 297 | ||||||
5,440 | Zimmer Holdings, Inc. | 617 | ||||||
17,992 | ||||||||
Health Care Providers & Services — 1.23% | ||||||||
7,790 | AmerisourceBergen Corp. | 702 | ||||||
10,195 | Anthem, Inc. | 1,281 | ||||||
24,703 | Express Scripts Holding Co. (a) | 2,092 | ||||||
2,787 | Henry Schein, Inc. (a) | 379 | ||||||
5,048 | Humana, Inc. | 725 | ||||||
2,965 | Laboratory Corp. of America Holdings (a) | 320 | ||||||
7,203 | McKesson Corp. | 1,495 |
Shares | Security Description | Value (000) | ||||||
Health Care Providers & Services (continued) | ||||||||
3,026 | MEDNAX, Inc. (a) | $ | 200 | |||||
2,903 | Patterson Cos., Inc. | 140 | ||||||
4,631 | Quest Diagnostics, Inc. | 311 | ||||||
32,538 | UnitedHealth Group, Inc. | 3,289 | ||||||
10,934 | ||||||||
Health Care Technology — 0.93% | ||||||||
126,809 | Cerner Corp. (a) | 8,199 | ||||||
Hotels, Restaurants & Leisure — 3.11% | ||||||||
5,456 | Chipotle Mexican Grill, Inc. (a) | 3,735 | ||||||
3,842 | Darden Restaurants, Inc. | 225 | ||||||
22,036 | Dunkin' Brands Group, Inc. | 940 | ||||||
21,151 | Las Vegas Sands Corp. | 1,230 | ||||||
65,591 | Marriott International, Inc. | 5,118 | ||||||
30,201 | McDonald's Corp. | 2,830 | ||||||
888 | Panera Bread Co., Class – A (a) | 155 | ||||||
150,456 | Starbucks Corp. | 12,345 | ||||||
13,798 | YUM! Brands, Inc. | 1,005 | ||||||
27,583 | ||||||||
Household Durables — 0.02% | ||||||||
3,413 | Garmin Ltd. | 180 | ||||||
Household Products — 2.02% | ||||||||
4,244 | Church & Dwight Co., Inc. | 334 | ||||||
135,117 | Colgate-Palmolive Co. | 9,349 | ||||||
11,949 | Kimberly-Clark Corp. | 1,381 | ||||||
3,937 | The Clorox Co. | 410 | ||||||
70,586 | The Procter & Gamble Co. | 6,430 | ||||||
17,904 | ||||||||
Industrial Conglomerates — 0.57% | ||||||||
21,500 | 3M Co. | 3,533 | ||||||
18,003 | Danaher Corp. | 1,543 | ||||||
5,076 | ||||||||
Insurance — 0.73% | ||||||||
65,270 | Aon PLC | 6,190 | ||||||
3,608 | Brown & Brown, Inc. | 119 | ||||||
733 | FNF Group | 25 | ||||||
4,624 | Torchmark Corp. | 250 | ||||||
6,584 | ||||||||
Internet & Catalog Retail — 3.91% | ||||||||
49,141 | Amazon.com, Inc. (a) | 15,251 | ||||||
13,174 | Netflix.com, Inc. (a) | 4,500 | ||||||
10,924 | Priceline.com, Inc. (a) | 12,456 | ||||||
32,583 | TripAdvisor, Inc. (a) | 2,433 | ||||||
34,640 | ||||||||
Internet Software & Services — 7.80% | ||||||||
57,406 | Alibaba Group Holding Ltd. (a) | 5,967 | ||||||
35,198 | eBay, Inc. (a) | 1,975 | ||||||
34,950 | Equinix, Inc. | 7,924 | ||||||
150,131 | Facebook, Inc., Class – A (a) | 11,713 | ||||||
33,662 | Google, Inc. (a) | 17,720 | ||||||
17,680 | Google, Inc., Class – A (a) | 9,382 | ||||||
6,917 | LendingClub Corp. (a) | 175 |
See accompanying notes to financial statements.
15
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Internet Software & Services (continued) | ||||||||
43,890 | LinkedIn Corp., Class – A (a) | $ | 10,082 | |||||
3,360 | Rackspace Hosting, Inc. (a) | 157 | ||||||
59,468 | Tencent Holdings Ltd., ADR | 863 | ||||||
90,264 | Twitter, Inc. (a) | 3,238 | ||||||
69,196 | ||||||||
IT Services — 6.03% | ||||||||
19,568 | Accenture PLC, Class – A | 1,748 | ||||||
115,129 | Automatic Data Processing, Inc. | 9,598 | ||||||
3,782 | Broadridge Financial Solutions, Inc. | 175 | ||||||
19,059 | Cognizant Technology Solutions Corp. (a) | 1,004 | ||||||
1,400 | FleetCor Technologies, Inc. (a) | 208 | ||||||
2,332 | Global Payments, Inc. | 188 | ||||||
24,556 | International Business Machines Corp. | 3,940 | ||||||
2,661 | Jack Henry & Associates, Inc. | 165 | ||||||
2,165 | Leidos Holdings, Inc. | 94 | ||||||
136,848 | MasterCard, Inc., Class – A | 11,791 | ||||||
2,004 | NeuStar, Inc., Class – A (a) | 56 | ||||||
9,998 | Paychex, Inc. | 462 | ||||||
1,220 | Science Applications International Corp. | 60 | ||||||
4,989 | Teradata Corp. (a) | 218 | ||||||
4,922 | Total System Services, Inc. | 167 | ||||||
88,394 | Visa, Inc., Class – A | 23,176 | ||||||
19,160 | Western Union Co. | 343 | ||||||
53,393 | ||||||||
Leisure Products — 0.03% | ||||||||
1,965 | Polaris Industries, Inc. | 297 | ||||||
Life Sciences Tools & Services — 0.83% | ||||||||
1,088 | Bio-Techne Corp. | 101 | ||||||
1,616 | Covance, Inc. (a) | 168 | ||||||
27,611 | Illumina, Inc. (a) | 5,097 | ||||||
1,000 | Mettler-Toledo International, Inc. (a) | 302 | ||||||
11,304 | Thermo Electron Corp. | 1,416 | ||||||
2,638 | Waters Corp. (a) | 297 | ||||||
7,381 | ||||||||
Machinery — 0.27% | ||||||||
4,402 | Donaldson Co., Inc. | 170 | ||||||
2,583 | IDEX Corp. | 201 | ||||||
13,003 | Illinois Tool Works, Inc. | 1,232 | ||||||
3,585 | Pall Corp. | 363 | ||||||
2,825 | Wabtec Corp. | 245 | ||||||
5,834 | Xylem, Inc. | 222 | ||||||
2,433 | ||||||||
Marine — 0.01% | ||||||||
1,612 | Kirby Corp. (a) | 130 | ||||||
Media — 2.39% | ||||||||
17,674 | Discovery Communications, Inc. (a) | 609 | ||||||
18,022 | Discovery Communications, Inc. (a) | 608 | ||||||
1,367 | John Wiley & Sons, Inc., Class – A | 81 | ||||||
849 | Morningstar, Inc. | 55 | ||||||
8,269 | Omnicom Group, Inc. | 641 |
Shares | Security Description | Value (000) | ||||||
Media (continued) | ||||||||
2,587 | Scripps Networks Interactive, Class – A | $ | 195 | |||||
151,163 | The Walt Disney Co. | 14,237 | ||||||
123,884 | Twenty-First Century Fox, Inc. | 4,758 | ||||||
21,184 | ||||||||
Multiline Retail — 0.14% | ||||||||
7,073 | Dollar Tree, Inc. (a) | 498 | ||||||
3,077 | Family Dollar Stores, Inc. | 244 | ||||||
7,552 | Kohl's Corp. | 461 | ||||||
1,203 | ||||||||
Oil, Gas & Consumable Fuels — 2.07% | ||||||||
42,828 | Chevron Corp. | 4,804 | ||||||
41,325 | Concho Resources, Inc. (a) | 4,122 | ||||||
38,456 | EOG Resources, Inc. | 3,541 | ||||||
62,394 | Exxon Mobil Corp. | 5,768 | ||||||
2,020 | World Fuel Services Corp. | 95 | ||||||
18,330 | ||||||||
Personal Products — 0.07% | ||||||||
1,673 | Nu Skin Enterprises, Inc., Class – Aˆ | 73 | ||||||
7,097 | The Estee Lauder Cos., Inc., Class – A | 541 | ||||||
614 | ||||||||
Pharmaceuticals — 6.50% | ||||||||
48,009 | AbbVie, Inc. | 3,142 | ||||||
21,282 | Actavis, Inc. PLC(a) | 5,478 | ||||||
25,241 | Allergan, Inc. | 5,366 | ||||||
117,085 | Bristol-Myers Squibb Co. | 6,912 | ||||||
31,248 | Eli Lilly & Co. | 2,156 | ||||||
5,049 | Hospira, Inc. (a) | 309 | ||||||
66,507 | Johnson & Johnson | 6,955 | ||||||
1,646 | Mallinckrodt PLC(a) | 163 | ||||||
164,509 | Merck & Co., Inc. | 9,342 | ||||||
99,731 | Novo Nordisk A/S, ADR | 4,221 | ||||||
34,135 | Perrigo Co. PLC | 5,706 | ||||||
89,458 | Sanofi-Aventis, ADR | 4,080 | ||||||
17,697 | Shire PLC, ADR | 3,761 | ||||||
57,591 | ||||||||
Professional Services — 0.09% | ||||||||
3,704 | Equifax, Inc. | 300 | ||||||
1,810 | Towers Watson & Co., Class – A | 205 | ||||||
4,472 | Versik Analytics, Inc., Class – A (a) | 286 | ||||||
791 | ||||||||
Real Estate Investment Trusts — 0.40% | ||||||||
35,503 | American Tower Corp. | 3,509 | ||||||
Road & Rail — 1.15% | ||||||||
24,236 | Canadian Pacific Railway Ltd. | 4,670 | ||||||
1,322 | Landstar System, Inc. | 96 | ||||||
45,137 | Union Pacific Corp. | 5,377 | ||||||
10,143 |
See accompanying notes to financial statements.
16
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Semiconductors & Semiconductor Equipment — 1.32% | ||||||||
9,999 | Altera Corp. | $ | 369 | |||||
65,058 | Applied Materials, Inc. | 1,621 | ||||||
79,796 | ARM Holdings PLC, ADR | 3,695 | ||||||
157,838 | Intel Corp. | 5,728 | ||||||
6,044 | Microchip Technology, Inc. | 273 | ||||||
11,686 | ||||||||
Software — 5.78% | ||||||||
86,235 | Adobe Systems, Inc. (a) | 6,268 | ||||||
2,812 | ANSYS, Inc. (a) | 231 | ||||||
4,985 | Cdk Global, Inc. | 203 | ||||||
5,521 | Citrix Systems, Inc. (a) | 352 | ||||||
1,400 | FactSet Research Systems, Inc. | 197 | ||||||
45,208 | FireEye, Inc. (a) | 1,428 | ||||||
8,998 | Intuit, Inc. | 830 | ||||||
118,450 | Oracle Corp. | 5,327 | ||||||
151,008 | Red Hat, Inc. (a) | 10,440 | ||||||
192,001 | Salesforce.com, Inc. (a) | 11,387 | ||||||
83,480 | SAP AG, ADR | 5,814 | ||||||
1,679 | SolarWinds, Inc. (a) | 84 | ||||||
48,612 | Splunk, Inc. (a) | 2,866 | ||||||
31,434 | VMware, Inc., Class – A (a) | 2,594 | ||||||
38,619 | Workday, Inc., Class – A (a) | 3,152 | ||||||
51,173 | ||||||||
Specialty Retail — 4.47% | ||||||||
2,486 | Aaron's, Inc. | 76 | ||||||
2,632 | Abercrombie & Fitch Co., Class – A | 75 | ||||||
2,185 | Advance Auto Parts, Inc. | 348 | ||||||
3,615 | Ascena Retail Group, Inc. (a) | 45 | ||||||
1,145 | AutoZone, Inc. (a) | 709 | ||||||
7,146 | Bed Bath & Beyond, Inc. (a) | 544 | ||||||
8,392 | Best Buy Co., Inc. | 327 | ||||||
2,885 | Dick's Sporting Goods, Inc. | 143 | ||||||
2,171 | Guess?, Inc. | 46 | ||||||
337,169 | Industria de Diseno Textil SA, ADR | 4,788 | ||||||
159,040 | Lowe's Cos., Inc. | 10,943 | ||||||
23,986 | O'Reilly Automotive, Inc. (a) | 4,620 | ||||||
3,243 | PetSmart, Inc. | 264 | ||||||
6,818 | Ross Stores, Inc. | 643 | ||||||
2,585 | Signet Jewelers Ltd. | 340 | ||||||
21,636 | Staples, Inc. | 392 | ||||||
46,911 | The Home Depot, Inc. | 4,924 | ||||||
70,268 | The TJX Cos., Inc. | 4,819 | ||||||
48,711 | Tiffany & Co. | 5,205 | ||||||
1,843 | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | 236 | ||||||
3,163 | Urban Outfitters, Inc. (a) | 111 | ||||||
39,598 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Technology Hardware, Storage & Peripherals — 3.14% | ||||||||
251,181 | Apple, Inc. | $ | 27,726 | |||||
2,168 | Lexmark International, Inc., Class – A | 89 | ||||||
27,815 | ||||||||
�� | Textiles, Apparel & Luxury Goods — 1.95% | |||||||
8,831 | Coach, Inc. | 332 | ||||||
1,159 | Deckers Outdoor Corp. (a) | 106 | ||||||
1,507 | Fossil Group, Inc. (a) | 167 | ||||||
25,487 | Michael Kors Holdings Ltd. (a) | 1,914 | ||||||
98,587 | NIKE, Inc., Class – B | 9,478 | ||||||
1,861 | Ralph Lauren Corp. | 345 | ||||||
59,975 | Under Armour, Inc., Class – A (a) | 4,072 | ||||||
10,658 | V.F. Corp. | 798 | ||||||
17,212 | ||||||||
Tobacco — 0.55% | ||||||||
11,974 | Lorillard, Inc. | 754 | ||||||
50,068 | Philip Morris International, Inc. | 4,078 | ||||||
4,832 | ||||||||
Trading Companies & Distributors — 0.85% | ||||||||
146,161 | Fastenal Co. | 6,952 | ||||||
1,336 | MSC Industrial Direct Co., Inc., Class – A | 109 | ||||||
3,244 | NOW, Inc. ˆ (a) | 83 | ||||||
1,634 | W.W. Grainger, Inc. | 416 | ||||||
7,560 | ||||||||
Total Common Stocks | 742,506 | |||||||
Time Deposit — 1.13% | ||||||||
$9,970 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/15 | 9,970 | ||||||
Total Time Deposit | 9,970 | |||||||
Mutual Funds — 9.85% | ||||||||
87,054,968 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (b) | 87,055 | ||||||
264,633 | SSgA Treasury Money Market Fund, 0.00% (b) | 265 | ||||||
Total Mutual Funds | 87,320 | |||||||
Total Investments (cost $557,011) — 94.77% | 839,796 | |||||||
Other assets in excess of liabilities — 5.23% | 46,327 | |||||||
Net Assets — 100.00% | $ | 886,123 |
ˆ | All or part of this security was on loan as of December 31, 2014. The total value of securities on loan as of December 31, 2014, was $110 (amount in thousands). |
(a) | Represents non-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2014. |
ADR — American Depositary Receipt
See accompanying notes to financial statements.
17
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
The following table reflects the percentage of 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 | HC Capital Solutions | Total | |||||||||||||||
Common Stocks | 35.72 | % | 24.87 | % | 23.20 | % | — | 83.79 | % | |||||||||||
Time Deposit | 0.26 | % | — | 0.87 | % | — | 1.13 | % | ||||||||||||
Mutual Funds | — | 0.07 | % | — | 9.78 | % | 9.85 | % | ||||||||||||
Other Assets (Liabilities) | -0.01 | % | — | 0.02 | % | 5.22 | % | 5.23 | % | |||||||||||
Total Net Assets | 35.97 | % | 24.94 | % | 24.09 | % | 15.00 | % | 100.00 | % |
See accompanying notes to financial statements.
18
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 81.21% | ||||||||
Aerospace & Defense — 2.11% | ||||||||
3,471 | Engility Holdings, Inc. (a) | $ | 149 | |||||
17,475 | General Dynamics Corp. | 2,405 | ||||||
5,433 | L-3 Communications Holdings, Inc. | 686 | ||||||
48,272 | Precision Castparts Corp. | 11,628 | ||||||
7,982 | Rockwell Collins, Inc. | 674 | ||||||
72,935 | The Boeing Co. | 9,480 | ||||||
50,526 | United Technologies Corp. | 5,810 | ||||||
30,832 | ||||||||
Air Freight & Logistics — 0.08% | ||||||||
9,165 | C.H. Robinson Worldwide, Inc. | 687 | ||||||
11,975 | Expeditors International of Washington, Inc. | 534 | ||||||
1,221 | ||||||||
Auto Components — 0.02% | ||||||||
7,661 | Gentex Corp. | 277 | ||||||
Automobiles — 0.44% | ||||||||
28,688 | Tesla Motors, Inc. (a) | 6,380 | ||||||
Banks — 0.01% | ||||||||
2,981 | Cullen/Frost Bankers, Inc. | 211 | ||||||
Beverages — 1.28% | ||||||||
8,040 | Brown-Forman Corp., Class – B | 706 | ||||||
7,981 | Monster Beverage Corp. (a) | 865 | ||||||
86,355 | PepsiCo, Inc. | 8,166 | ||||||
211,425 | The Coca-Cola Co. | 8,926 | ||||||
18,663 | ||||||||
Biotechnology — 4.82% | ||||||||
52,187 | Alexion Pharmaceuticals, Inc. (a) | 9,656 | ||||||
96,331 | Amgen, Inc. | 15,345 | ||||||
45,989 | Biogen Idec, Inc. (a) | 15,610 | ||||||
97,003 | Celgene Corp. (a) | 10,851 | ||||||
93,656 | Gilead Sciences, Inc. (a) | 8,828 | ||||||
9,509 | Regeneron Pharmaceuticals, Inc. (a) | 3,901 | ||||||
53,492 | Vertex Pharmaceuticals, Inc. (a) | 6,355 | ||||||
70,546 | ||||||||
Capital Markets — 1.90% | ||||||||
7,037 | BlackRock, Inc., Class – A | 2,516 | ||||||
4,728 | Federated Investors, Inc., Class – B | 156 | ||||||
22,741 | Franklin Resources, Inc. | 1,259 | ||||||
34,250 | Goldman Sachs Group, Inc. | 6,639 | ||||||
218,346 | Morgan Stanley | 8,472 | ||||||
7,643 | SEI Investments Co. | 306 | ||||||
88,943 | State Street Corp. | 6,982 | ||||||
14,072 | T. Rowe Price Group, Inc. | 1,208 | ||||||
4,655 | Waddell & Reed Financial, Inc., Class – A | 232 | ||||||
27,770 | ||||||||
Chemicals — 2.04% | ||||||||
70,059 | Ecolab, Inc. | 7,323 | ||||||
4,508 | International Flavors & Fragrances, Inc. | 457 | ||||||
148,220 | Monsanto Co. | 17,708 | ||||||
16,580 | Praxair, Inc. | 2,148 | ||||||
6,608 | Sigma-Aldrich Corp. | 907 | ||||||
4,776 | The Sherwin-Williams Co. | 1,256 | ||||||
29,799 |
Shares | Security Description | Value (000) | ||||||
Commercial Services & Supplies — 0.12% | ||||||||
6,093 | Cintas Corp. | $ | 478 | |||||
5,406 | Copart, Inc. (a) | 197 | ||||||
3,664 | Rollins, Inc. | 121 | ||||||
4,739 | Stericycle, Inc. (a) | 622 | ||||||
6,825 | Waste Connections, Inc. | 300 | ||||||
1,718 | ||||||||
Communications Equipment — 1.37% | ||||||||
302,289 | Cisco Systems, Inc. | 8,408 | ||||||
3,859 | F5 Networks, Inc. (a) | 503 | ||||||
149,566 | Qualcomm, Inc. | 11,118 | ||||||
20,029 | ||||||||
Construction & Engineering — 0.04% | ||||||||
6,497 | AECOM Technology Corp. (a) | 197 | ||||||
7,255 | Jacobs Engineering Group, Inc. (a) | 325 | ||||||
522 | ||||||||
Consumer Finance — 0.54% | ||||||||
85,020 | American Express Co. | 7,910 | ||||||
Containers & Packaging — 0.02% | ||||||||
3,531 | AptarGroup, Inc. | 236 | ||||||
Distributors — 0.06% | ||||||||
8,535 | Genuine Parts Co. | 910 | ||||||
Diversified Consumer Services — 0.01% | ||||||||
5,977 | Apollo Group, Inc., Class – A (a) | 204 | ||||||
1,425 | ITT Educational Services, Inc. ˆ (a) | 14 | ||||||
218 | ||||||||
Diversified Financial Services — 0.57% | ||||||||
4,904 | CBOE Holdings, Inc. | 311 | ||||||
508 | FNFV Group (a) | 8 | ||||||
3,926 | IntercontinentalExchange Group, Inc. | 861 | ||||||
81,203 | The McGraw-Hill Cos., Inc. | 7,225 | ||||||
8,405 | ||||||||
Electrical Equipment — 0.33% | ||||||||
13,431 | AMETEK, Inc. | 707 | ||||||
6,947 | Eaton Corp. PLC | 472 | ||||||
40,580 | Emerson Electric Co. | 2,505 | ||||||
3,202 | Hubbell, Inc., Class – B | 342 | ||||||
5,352 | Roper Industries, Inc. | 837 | ||||||
4,863 | ||||||||
Electronic Equipment, Instruments & Components — 0.12% | ||||||||
18,034 | Amphenol Corp., Class – A | 971 | ||||||
2,929 | Dolby Laboratories, Inc., Class – A | 126 | ||||||
8,309 | FLIR Systems, Inc. | 268 | ||||||
5,408 | National Instruments Corp. | 168 | ||||||
2,982 | Zebra Technologies Corp. (a) | 231 | ||||||
1,764 | ||||||||
Energy Equipment & Services — 1.32% | ||||||||
1,107 | CARBO Ceramics, Inc. ˆ | 44 | ||||||
13,210 | FMC Technologies, Inc. (a) | 619 | ||||||
23,381 | National Oilwell Varco, Inc. | 1,532 | ||||||
6,013 | Oceaneering International, Inc. | 354 | ||||||
197,677 | Schlumberger Ltd. | 16,884 | ||||||
19,433 |
See accompanying notes to financial statements.
19
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Food & Staples Retailing — 2.93% | ||||||||
108,331 | Costco Wholesale Corp. | $ | 15,357 | |||||
69,488 | CVS Caremark Corp. | 6,692 | ||||||
32,530 | Sysco Corp. | 1,291 | ||||||
1,586 | The Fresh Market, Inc. (a) | 65 | ||||||
47,074 | Walgreens Boots Alliance, Inc. | 3,587 | ||||||
92,850 | Wal-Mart Stores, Inc. | 7,974 | ||||||
156,879 | Whole Foods Market, Inc. | 7,910 | ||||||
42,876 | ||||||||
Food Products — 1.50% | ||||||||
9,704 | Flowers Foods, Inc. | 186 | ||||||
57,950 | Hershey Co. | 6,023 | ||||||
7,623 | Hormel Foods Corp. | 397 | ||||||
13,262 | Kellogg Co. | 868 | ||||||
7,488 | McCormick & Co., Inc. | 556 | ||||||
11,182 | Mead Johnson Nutrition Co. | 1,124 | ||||||
335,445 | Mondelez International, Inc., Class – A | 12,186 | ||||||
6,064 | The J.M. Smucker Co. | 612 | ||||||
21,952 | ||||||||
Health Care Equipment & Supplies — 2.25% | ||||||||
305,245 | Abbott Laboratories | 13,742 | ||||||
30,283 | Baxter International, Inc. | 2,219 | ||||||
11,159 | Becton, Dickinson & Co. | 1,553 | ||||||
4,719 | C.R. Bard, Inc. | 786 | ||||||
26,648 | Covidien PLC | 2,726 | ||||||
7,986 | Dentsply International, Inc. | 425 | ||||||
5,946 | Edwards Lifesciences Corp. (a) | 757 | ||||||
2,700 | Halyard Health, Inc. (a) | 123 | ||||||
3,066 | IDEXX Laboratories, Inc. (a) | 455 | ||||||
2,162 | Intuitive Surgical, Inc. (a) | 1,144 | ||||||
57,501 | Medtronic, Inc. | 4,152 | ||||||
7,971 | ResMed, Inc. | 447 | ||||||
17,229 | St. Jude Medical, Inc. | 1,120 | ||||||
16,962 | Stryker Corp. | 1,600 | ||||||
6,237 | Varian Medical Systems, Inc. (a) | 540 | ||||||
9,610 | Zimmer Holdings, Inc. | 1,090 | ||||||
32,879 | ||||||||
Health Care Providers & Services — 1.34% | ||||||||
13,837 | AmerisourceBergen Corp. | 1,248 | ||||||
18,298 | Anthem, Inc. | 2,300 | ||||||
44,504 | Express Scripts Holding Co. (a) | 3,768 | ||||||
5,121 | Henry Schein, Inc. (a) | 697 | ||||||
8,943 | Humana, Inc. | 1,284 | ||||||
5,405 | Laboratory Corp. of America Holdings (a) | 583 | ||||||
12,878 | McKesson Corp. | 2,673 | ||||||
5,545 | MEDNAX, Inc. (a) | 367 | ||||||
5,236 | Patterson Cos., Inc. | 252 | ||||||
8,527 | Quest Diagnostics, Inc. | 572 | ||||||
58,537 | UnitedHealth Group, Inc. | 5,917 | ||||||
19,661 | ||||||||
Health Care Technology — 0.55% | ||||||||
124,983 | Cerner Corp. (a) | 8,081 |
Shares | Security Description | Value (000) | ||||||
Hotels, Restaurants & Leisure — 3.11% | ||||||||
10,402 | Chipotle Mexican Grill, Inc. (a) | $ | 7,120 | |||||
6,955 | Darden Restaurants, Inc. | 408 | ||||||
41,367 | Dunkin' Brands Group, Inc. | 1,764 | ||||||
39,602 | Las Vegas Sands Corp. | 2,303 | ||||||
125,076 | Marriott International, Inc. | 9,760 | ||||||
54,384 | McDonald's Corp. | 5,096 | ||||||
1,562 | Panera Bread Co., Class – A (a) | 273 | ||||||
207,136 | Starbucks Corp. | 16,995 | ||||||
24,785 | YUM! Brands, Inc. | 1,806 | ||||||
45,525 | ||||||||
Household Durables — 0.02% | ||||||||
5,880 | Garmin Ltd. | 311 | ||||||
Household Products — 1.77% | ||||||||
7,734 | Church & Dwight Co., Inc. | 610 | ||||||
150,505 | Colgate-Palmolive Co. | 10,413 | ||||||
21,500 | Kimberly-Clark Corp. | 2,484 | ||||||
7,226 | The Clorox Co. | 753 | ||||||
127,254 | The Procter & Gamble Co. | 11,592 | ||||||
25,852 | ||||||||
Industrial Conglomerates — 0.62% | ||||||||
38,772 | 3M Co. | 6,371 | ||||||
32,241 | Danaher Corp. | 2,763 | ||||||
9,134 | ||||||||
Insurance — 0.44% | ||||||||
60,300 | Aon PLC | 5,718 | ||||||
6,439 | Brown & Brown, Inc. | 212 | ||||||
1,376 | FNF Group | 47 | ||||||
8,301 | Torchmark Corp. | 450 | ||||||
6,427 | ||||||||
Internet & Catalog Retail — 3.59% | ||||||||
70,711 | Amazon.com, Inc. (a) | 21,945 | ||||||
25,043 | Netflix.com, Inc. (a) | 8,555 | ||||||
15,290 | Priceline.com, Inc. (a) | 17,434 | ||||||
61,690 | TripAdvisor, Inc. (a) | 4,606 | ||||||
52,540 | ||||||||
Internet Software & Services — 7.52% | ||||||||
109,393 | Alibaba Group Holding Ltd. (a) | 11,370 | ||||||
63,319 | eBay, Inc. (a) | 3,553 | ||||||
30,014 | Equinix, Inc. | 6,805 | ||||||
284,599 | Facebook, Inc., Class – A (a) | 22,204 | ||||||
47,689 | Google, Inc. (a) | 25,104 | ||||||
32,878 | Google, Inc., Class – A (a) | 17,447 | ||||||
13,236 | LendingClub Corp. (a) | 335 | ||||||
65,427 | LinkedIn Corp., Class – A (a) | 15,029 | ||||||
6,064 | Rackspace Hosting, Inc. (a) | 284 | ||||||
113,613 | Tencent Holdings Ltd., ADR | 1,649 | ||||||
173,248 | Twitter, Inc. (a) | 6,214 | ||||||
109,994 | ||||||||
IT Services — 5.52% | ||||||||
35,241 | Accenture PLC, Class – A | 3,147 | ||||||
119,566 | Automatic Data Processing, Inc. | 9,968 | ||||||
6,994 | Broadridge Financial Solutions, Inc. | 323 |
See accompanying notes to financial statements.
20
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
IT Services (continued) | ||||||||
33,944 | Cognizant Technology Solutions Corp. (a) | $ | 1,787 | |||||
2,526 | FleetCor Technologies, Inc. (a) | 376 | ||||||
4,330 | Global Payments, Inc. | 350 | ||||||
44,265 | International Business Machines Corp. | 7,102 | ||||||
4,917 | Jack Henry & Associates, Inc. | 306 | ||||||
3,996 | Leidos Holdings, Inc. | 174 | ||||||
248,216 | MasterCard, Inc., Class – A | 21,386 | ||||||
3,691 | NeuStar, Inc., Class – A (a) | 103 | ||||||
17,761 | Paychex, Inc. | 820 | ||||||
2,318 | Science Applications International Corp. | 115 | ||||||
8,953 | Teradata Corp. (a) | 391 | ||||||
9,011 | Total System Services, Inc. | 306 | ||||||
127,529 | Visa, Inc., Class – A | 33,437 | ||||||
34,363 | Western Union Co. | 615 | ||||||
80,706 | ||||||||
Leisure Products — 0.04% | ||||||||
3,666 | Polaris Industries, Inc. | 554 | ||||||
Life Sciences Tools & Services — 0.95% | ||||||||
2,030 | Bio-Techne Corp. | 188 | ||||||
3,040 | Covance, Inc. (a) | 316 | ||||||
52,743 | Illumina, Inc. (a) | 9,735 | ||||||
1,647 | Mettler-Toledo International, Inc. (a) | 498 | ||||||
20,293 | Thermo Electron Corp. | 2,543 | ||||||
4,945 | Waters Corp. (a) | 557 | ||||||
13,837 | ||||||||
Machinery — 0.30% | ||||||||
8,225 | Donaldson Co., Inc. | 318 | ||||||
4,674 | IDEX Corp. | 364 | ||||||
23,484 | Illinois Tool Works, Inc. | 2,224 | ||||||
6,428 | Pall Corp. | 651 | ||||||
5,400 | Wabtec Corp. | 469 | ||||||
10,623 | Xylem, Inc. | 404 | ||||||
4,430 | ||||||||
Marine — 0.02% | ||||||||
3,155 | Kirby Corp. (a) | 255 | ||||||
Media — 2.18% | ||||||||
33,644 | Discovery Communications, Inc. (a) | 1,159 | ||||||
34,305 | Discovery Communications, Inc. (a) | 1,157 | ||||||
2,782 | John Wiley & Sons, Inc., Class – A | 165 | ||||||
1,287 | Morningstar, Inc. | 83 | ||||||
14,774 | Omnicom Group, Inc. | 1,145 | ||||||
4,779 | Scripps Networks Interactive, Class – A | 360 | ||||||
199,006 | The Walt Disney Co. | 18,743 | ||||||
236,114 | Twenty-First Century Fox, Inc. | 9,068 | ||||||
31,880 | ||||||||
Multiline Retail — 0.15% | ||||||||
12,672 | Dollar Tree, Inc. (a) | 891 | ||||||
5,347 | Family Dollar Stores, Inc. | 424 | ||||||
13,380 | Kohl's Corp. | 817 | ||||||
2,132 | ||||||||
Oil, Gas & Consumable Fuels — 2.31% | ||||||||
77,090 | Chevron Corp. | 8,648 | ||||||
78,628 | Concho Resources, Inc. (a) | 7,843 | ||||||
73,331 | EOG Resources, Inc. | 6,752 |
Shares | Security Description | Value (000) | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
112,464 | Exxon Mobil Corp. | $ | 10,397 | |||||
4,159 | World Fuel Services Corp. | 195 | ||||||
33,835 | ||||||||
Personal Products — 0.07% | ||||||||
3,040 | Nu Skin Enterprises, Inc., Class – A ˆ | 133 | ||||||
12,510 | The Estee Lauder Cos., Inc., Class – A | 953 | ||||||
1,086 | ||||||||
Pharmaceuticals — 6.81% | ||||||||
86,461 | AbbVie, Inc. | 5,658 | ||||||
40,917 | Actavis, Inc. PLC (a) | 10,532 | ||||||
46,967 | Allergan, Inc. | 9,985 | ||||||
222,871 | Bristol-Myers Squibb Co. | 13,155 | ||||||
56,218 | Eli Lilly & Co. | 3,878 | ||||||
9,331 | Hospira, Inc. (a) | 572 | ||||||
119,764 | Johnson & Johnson | 12,524 | ||||||
3,166 | Mallinckrodt PLC (a) | 314 | ||||||
304,559 | Merck & Co., Inc. | 17,295 | ||||||
190,542 | Novo Nordisk A/S, ADR | 8,064 | ||||||
39,571 | Perrigo Co. PLC | 6,615 | ||||||
82,688 | Sanofi-Aventis, ADR | 3,771 | ||||||
33,872 | Shire PLC, ADR | 7,198 | ||||||
99,561 | ||||||||
Professional Services — 0.10% | ||||||||
6,727 | Equifax, Inc. | 544 | ||||||
3,346 | Towers Watson & Co., Class – A | 379 | ||||||
8,230 | Versik Analytics, Inc., Class – A (a) | 527 | ||||||
1,450 | ||||||||
Real Estate Investment Trusts — 0.46% | ||||||||
67,704 | American Tower Corp. | 6,693 | ||||||
Road & Rail — 1.31% | ||||||||
46,217 | Canadian Pacific Railway Ltd. | 8,906 | ||||||
2,722 | Landstar System, Inc. | 197 | ||||||
84,358 | Union Pacific Corp. | 10,050 | ||||||
19,153 | ||||||||
Semiconductors & Semiconductor Equipment — 1.47% | ||||||||
18,065 | Altera Corp. | 667 | ||||||
121,346 | Applied Materials, Inc. | 3,024 | ||||||
151,742 | ARM Holdings PLC, ADR | 7,026 | ||||||
283,931 | Intel Corp. | 10,304 | ||||||
10,949 | Microchip Technology, Inc. | 494 | ||||||
21,515 | ||||||||
Software — 5.45% | ||||||||
162,074 | Adobe Systems, Inc. (a) | 11,783 | ||||||
5,143 | ANSYS, Inc. (a) | 422 | ||||||
9,059 | Cdk Global, Inc. | 369 | ||||||
10,034 | Citrix Systems, Inc. (a) | 640 | ||||||
2,549 | FactSet Research Systems, Inc. | 359 | ||||||
84,495 | FireEye, Inc. (a) | 2,668 | ||||||
16,240 | Intuit, Inc. | 1,497 | ||||||
213,235 | Oracle Corp. | 9,589 | ||||||
208,258 | Red Hat, Inc. (a) | 14,399 | ||||||
278,937 | Salesforce.com, Inc. (a) | 16,544 | ||||||
72,680 | SAP AG, ADR | 5,062 | ||||||
3,594 | SolarWinds, Inc. (a) | 179 | ||||||
92,697 | Splunk, Inc. (a) | 5,464 |
See accompanying notes to financial statements.
21
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Software (continued) | ||||||||
58,992 | VMware, Inc., Class – A (a) | $ | 4,868 | |||||
71,093 | Workday, Inc., Class – A (a) | 5,802 | ||||||
79,645 | ||||||||
Specialty Retail — 4.33% | ||||||||
4,345 | Aaron's, Inc. | 133 | ||||||
4,841 | Abercrombie & Fitch Co., Class – A | 139 | ||||||
3,894 | Advance Auto Parts, Inc. | 620 | ||||||
7,176 | Ascena Retail Group, Inc. (a) | 90 | ||||||
1,959 | AutoZone, Inc. (a) | 1,213 | ||||||
12,642 | Bed Bath & Beyond, Inc. (a) | 963 | ||||||
15,298 | Best Buy Co., Inc. | 596 | ||||||
5,291 | Dick's Sporting Goods, Inc. | 263 | ||||||
3,892 | Guess?, Inc. | 82 | ||||||
642,947 | Industria de Diseno Textil SA, ADR | 9,130 | ||||||
146,990 | Lowe's Cos., Inc. | 10,113 | ||||||
45,125 | O'Reilly Automotive, Inc. (a) | 8,692 | ||||||
5,886 | PetSmart, Inc. | 479 | ||||||
12,157 | Ross Stores, Inc. | 1,146 | ||||||
4,776 | Signet Jewelers Ltd. | 628 | ||||||
38,879 | Staples, Inc. | 704 | ||||||
84,330 | The Home Depot, Inc. | 8,852 | ||||||
131,283 | The TJX Cos., Inc. | 9,003 | ||||||
92,883 | Tiffany & Co. | 9,925 | ||||||
3,488 | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | 446 | ||||||
5,798 | Urban Outfitters, Inc. (a) | 204 | ||||||
63,421 | ||||||||
Technology Hardware, Storage & Peripherals — 3.56% | ||||||||
470,082 | Apple, Inc. | 51,888 | ||||||
4,416 | Lexmark International, Inc., Class – A | 182 | ||||||
52,070 | ||||||||
Textiles, Apparel & Luxury Goods — 2.21% | ||||||||
15,756 | Coach, Inc. | 592 | ||||||
2,100 | Deckers Outdoor Corp. (a) | 191 | ||||||
2,983 | Fossil Group, Inc. (a) | 330 | ||||||
48,147 | Michael Kors Holdings Ltd. (a) | 3,616 | ||||||
185,427 | NIKE, Inc., Class – B | 17,829 | ||||||
3,419 | Ralph Lauren Corp. | 633 | ||||||
113,871 | Under Armour, Inc., Class – A (a) | 7,732 | ||||||
19,119 | V.F. Corp. | 1,432 | ||||||
32,355 | ||||||||
Tobacco — 0.59% | ||||||||
21,450 | Lorillard, Inc. | 1,350 | ||||||
90,044 | Philip Morris International, Inc. | 7,334 | ||||||
8,684 | ||||||||
Trading Companies & Distributors — 0.54% | ||||||||
141,654 | Fastenal Co. | 6,737 | ||||||
2,273 | MSC Industrial Direct Co., Inc., Class – A | 185 | ||||||
5,837 | NOW, Inc. ˆ (a) | 150 | ||||||
3,037 | W.W. Grainger, Inc. | 774 | ||||||
7,846 | ||||||||
Total Common Stocks | 1,188,047 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Corporate Bonds — 0.36% | ||||||||
Banks — 0.17% | ||||||||
700 | Bank of America Corp., 5.75%, 12/1/17 | $ | 773 | |||||
800 | Citigroup, Inc., 0.78%, 3/10/17 (b) | 798 | ||||||
800 | JPMorgan Chase Bank NA, 6.00%, 10/1/17 | 889 | ||||||
2,460 | ||||||||
Capital Markets — 0.06% | ||||||||
$200 | Goldman Sachs Group, Inc., 0.73%, 1/12/15 (b) | 200 | ||||||
500 | Goldman Sachs Group, Inc., 3.70%, 8/1/15 | 508 | ||||||
200 | Goldman Sachs Group, Inc., 0.70%, 3/22/16 (b) | 200 | ||||||
908 | ||||||||
Diversified Financial Services — 0.06% | ||||||||
900 | Ford Motor Credit Co. LLC, 2.38%, 1/16/18 | 905 | ||||||
Diversified Telecommunication Services — 0.06% | ||||||||
100 | Verizon Communications, Inc., 1.77%, 9/15/16 (b) | 102 | ||||||
69 | Verizon Communications, Inc., 2.50%, 9/15/16 | 71 | ||||||
400 | Verizon Communications, Inc., 3.65%, 9/14/18 | 422 | ||||||
200 | Verizon Communications, Inc., 4.50%, 9/15/20 | 217 | ||||||
812 | ||||||||
Oil, Gas & Consumable Fuels — 0.01% | ||||||||
100 | El Paso Pipeline Partners Operating Co. LLC, 6.50%, 4/1/20 | 113 | ||||||
100 | Southwestern Energy Co., 4.10%, 3/15/22, Callable 12/15/21 @ 100.00 | 98 | ||||||
211 | ||||||||
Total Corporate Bonds | 5,296 | |||||||
Asset Backed Securities — 0.01% | ||||||||
56 | Asset Backed Securities Corp. Home Equity Loan Trust, Series 2007-HE2, Class A2, 0.25%, 5/25/37 (b) | 36 | ||||||
39 | SLM Student Loan Trust, Series 2005-4, Class A2, 0.31%, 4/26/21 (b) | 40 | ||||||
27 | Small Business Administration Participation Certificates, Series 2008-20E, Class 1, 5.49%, 5/1/28 | 29 | ||||||
Total Asset Backed Securities | 105 | |||||||
Collateralized Mortgage Obligations — 0.19% | ||||||||
11 | American Home Mortgage Investment Trust, Series 2005-2, Class 4A1, 1.83%, 9/25/45 (b) | 11 | ||||||
120 | Banc of America Commercial Mortgage, Inc., Series 2006-5, Class A4, 5.41%, 9/10/16 | 126 | ||||||
13 | Banc of America Mortgage Securities, Inc., Series 2006-A, Class 2A1, 2.74%, 2/25/36 (b) | 11 | ||||||
31 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2002-11, Class 1A2, 2.67%, 2/25/33 (b) | 29 |
.See accompanying notes to financial statements
22
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Collateralized Mortgage Obligations (continued) | ||||||||
$21 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2002-11, Class 1A1, 2.35%, 2/25/33 (b) | $ | 20 | |||||
23 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2004-9, Class 22A1, 3.01%, 11/25/34 (b) | 23 | ||||||
59 | Citigroup Mortgage Loan Trust, Inc., Series 2005-6, Class A2, 2.28%, 9/25/35 (b) | 59 | ||||||
107 | Citigroup Mortgage Loan Trust, Inc., Series 2005-6, Class A3, 1.93%, 9/25/35 (b) | 104 | ||||||
0 | Citigroup Mortgage Loan Trust, Inc., Series 2005-3, Class 2A2A, 2.56%, 8/25/35 (b) | 0 | ||||||
26 | Countrywide Alternative Loan Trust, Series 2006-OA11B, Class A1B, 0.36%, 9/25/46 (b)(c)(d) | 22 | ||||||
19 | Countrywide Alternative Loan Trust, Series 2006-OA9, Class 2A1A, 0.38%, 7/20/46 (b)(c)(d) | 13 | ||||||
87 | Countrywide Alternative Loan Trust, Series 2003-J2, Class A1, 6.00%, 10/25/33 | 91 | ||||||
22 | Countrywide Alternative Loan Trust, Series 2006-HY13, Class 4A1, 2.66%, 2/25/37 (b)(c)(d) | 19 | ||||||
28 | Countrywide Alternative Loan Trust, Series 2005-81, Class A1, 0.45%, 2/25/37 (b) | 22 | ||||||
0 | Countrywide Home Loans, Series 2005-HYB9, Class 3A2A, 2.31%, 2/20/36 (b) | 0 | ||||||
61 | Countrywide Home Loans, Series 2005-3, Class 2A1, 0.46%, 4/25/35 (b) | 51 | ||||||
659 | Countrywide Home Loans, Series 2005-9, Class 1A3, 0.40%, 5/25/35 (b) | 556 | ||||||
147 | Fannie Mae, Series 2006-82, Class F, 0.74%, 9/25/36 (b) | 148 | ||||||
112 | Fannie Mae Whole Loan, Series 2004-W12, Class 1A1, 6.00%, 7/25/44 | 127 | ||||||
118 | First Horizon Mortgage Pass-Through Trust, Series 2004-AR1, Class 2A1, 2.53%, 2/25/34 (b) | 117 | ||||||
4 | Freddie Mac, Series 3346, Class FA, 0.39%, 2/15/19 (b) | 4 | ||||||
5 | Freddie Mac, Series 2395, Class FT, 0.61%, 12/15/31 (b) | 6 | ||||||
123 | Freddie Mac, Series 3174, Class FM, 0.40%, 5/15/36 (b) | 123 | ||||||
49 | Government National Mortgage Association, Series 2000-14, Class F, 0.81%, 2/16/30 (b) | 49 | ||||||
0 | Government National Mortgage Association, Series 2005-16, Class FA, 0.42%, 2/20/35 (b) | 0 | ||||||
429 | Government National Mortgage Association, Series 2008-6, Class FA, 0.66%, 2/20/38 (b) | 434 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Collateralized Mortgage Obligations (continued) | ||||||||
$119 | Morgan Stanley Capital I, Series 2007-IQ16, Class A4, 5.81%, 12/12/49 | $ | 129 | |||||
609 | Nomura Asset Acceptance Corp., Series 2005-AR5, Class 2A1, 2.66%, 10/25/35 (b) | 554 | ||||||
Total Collateralized Mortgage Obligations | 2,848 | |||||||
Global Bonds — 0.27% | ||||||||
Italy — 0.08% | ||||||||
899 | Buoni del Tesoro Poliennali, Series ICPI, 2.15%, 11/12/17 (e) | 1,126 | ||||||
Mexico — 0.11% | ||||||||
262,310 | Mexican Cetes, 0.00%, 5/28/15 (e) | 1,758 | ||||||
Slovenia — 0.05% | ||||||||
400 | Republic of Slovenia, Series DZ53, 0.18%, 4/9/15 (e)(f)(g) | 483 | ||||||
200 | Republic of Slovenia, 4.70%, 11/1/16 (e)(h) | 259 | ||||||
742 | ||||||||
Spain — 0.01% | ||||||||
100 | Bonos y Obligaciones del Estado, 2.75%, 10/31/24 (e)(h) | 133 | ||||||
United States — 0.02% | ||||||||
100 | Goldman Sachs Group, Inc., 0.43%, 5/18/15 (b) | 121 | ||||||
100 | JPMorgan Chase Bank NA, 4.37%, 11/30/21, Callable 11/14/16 @ 100 (b) | 127 | ||||||
248 | ||||||||
Total Global Bonds | 4,007 | |||||||
Municipal Bond — 0.02% | ||||||||
Washington — 0.02% | ||||||||
200 | Port of Seattle Washington Revenue, Series B1, 7.00%, 5/1/36 | 234 | ||||||
Total Municipal Bond | 234 | |||||||
U.S. Government Agency Mortgages — 0.02% | ||||||||
7 | Fannie Mae, 4.50%, 10/1/35 | 8 | ||||||
222 | Fannie Mae, 2.21%, 10/1/35 (b) | 238 | ||||||
4 | Fannie Mae, 6.00%, 11/1/37 | 5 | ||||||
6 | Fannie Mae, 4.50%, 3/1/41 | 7 | ||||||
50 | Fannie Mae, 4.50%, 4/1/42 | 54 | ||||||
7 | Fannie Mae, 4.50%, 12/1/34 | 8 | ||||||
Total U.S. Government Agency Mortgages | 320 | |||||||
U.S. Treasury Obligations — 1.89% | ||||||||
200 | U.S. Treasury Bond, 3.00%, 11/15/44 | 210 | ||||||
2,500 | U.S. Treasury Inflation Index Note, 0.13%, 7/15/24 (i) | 2,407 | ||||||
339 | U.S. Treasury Note, 0.25%, 9/15/15 | 339 | ||||||
500 | U.S. Treasury Note, 2.25%, 4/30/21 | 510 | ||||||
8,300 | U.S. Treasury Note, 2.75%, 2/15/24 | 8,734 | ||||||
5,400 | U.S. Treasury Note, 2.50%, 5/15/24 | 5,563 | ||||||
9,700 | U.S. Treasury Note, 2.38%, 8/15/24 | 9,880 | ||||||
Total U.S. Treasury Obligations | 27,643 |
See accompanying notes to financial statements.
23
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Yankee Dollars — 0.31% | ||||||||
Aerospace & Defense — 0.01% | ||||||||
$72 | Waha Aerospace BV, 3.93%, 7/28/20 | $ | 75 | |||||
Banks — 0.27% | ||||||||
900 | Banco Bilbao Vizcaya NY, 0.98%, 10/23/15 (b) | 899 | ||||||
500 | Banco Votorantim SA, 5.25%, 2/11/16 (h) | 510 | ||||||
600 | DNB Bank ASA, 3.20%, 4/3/17 (h) | 622 | ||||||
200 | Export-Import Bank of Korea, 5.88%, 1/14/15 | 200 | ||||||
200 | Export-Import Bank of Korea, 4.13%, 9/9/15 | 204 | ||||||
200 | Export-Import Bank of Korea, 5.13%, 6/29/20 | 225 | ||||||
200 | Export-Import Bank of Korea, 5.00%, 4/11/22 | 229 | ||||||
1,000 | Sumitomo Mitsui Banking Corp., 0.55%, 4/29/16 (b) | 999 | ||||||
3,888 | ||||||||
Diversified Financial Services — 0.01% | ||||||||
175 | Doric Nimrod Air Finance Alpha Ltd., Series 2012-1, Class A, 5.13%, 11/30/24 (h) | 181 | ||||||
Oil, Gas & Consumable Fuels — 0.02% | ||||||||
300 | Gazprom OAO, 8.13%, 2/4/15 | 362 | ||||||
Total Yankee Dollars | 4,506 | |||||||
Time Deposit — 1.38% | ||||||||
$20,122 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/15 | 20,122 | ||||||
Total Time Deposit | 20,122 | |||||||
Mutual Funds — 9.61% | ||||||||
623,805 | SSgA U.S. Government Money Market Fund, 0.00% (j) | 624 | ||||||
139,928,558 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (j) | 139,929 | ||||||
Total Mutual Funds | 140,553 | |||||||
Repurchase Agreements — 0.72% | ||||||||
$4,200 | Citigroup Global Markets, 0.14%, 1/2/15 (Purchased on 12/31/14, proceeds at maturity $4,200,033 collateralized by U.S. Treasury Note, 2.50, 5/15/24 fair value $4,299,315) | 4,200 | ||||||
$4,500 | Deutsche Bank Securities, Inc., 0.10%, 1/2/15 (Purchased on 12/31/14, proceeds at maturity $4,500,025 collateralized by U.S. Treasury Bond, 3.13, 2/15/43 fair value $4,599,737) | 4,500 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Repurchase Agreements (continued) | ||||||||
$1,800 | JPMorgan Securities, 0.14%, 1/2/15 (Purchased on 12/31/14, proceeds at maturity $1,800,014 collateralized by U.S. Treasury Note, 1.88, 6/30/15 fair value $1,842,191) | $ | 1,800 | |||||
Total Repurchase Agreements | 10,500 | |||||||
Total Investments (cost $1,039,740) — 95.99% | $ | 1,404,181 | ||||||
Other assets in excess of liabilities — 4.01% | 58,703 | |||||||
Net Assets — 100.00% | $ | 1,462,884 |
Amounts designated as “—” are $0 or have been rounded to $0.
ˆ | All or part of this security was on loan as of December 31, 2014. The total value of securities on loan as of December 31, 2014, was $326 (amount in thousands). |
(a) | Represents non-income producing security. |
(b) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2014. |
(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) | 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, 2014. |
(g) | Rate disclosed represents effective yield at purchase. |
(h) | 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. |
(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, 2014. |
ADR — American Depositary Receipt
LIBOR — Represents the London InterBank Offered Rate
See accompanying notes to financial statements.
24
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
The following table reflects the percentage of 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 | PIMCO | Mellon Quality Yield | Sustainable Growth Advisers | HC Capital Solutions | Total | ||||||||||||||||||
Common Stocks | 41.17 | % | — | 27.12 | % | 12.92 | % | — | 81.21 | % | ||||||||||||||
Corporate Bonds | — | 0.36 | % | — | — | — | 0.36 | % | ||||||||||||||||
Asset Backed Securities | — | 0.01 | % | — | — | — | 0.01 | % | ||||||||||||||||
Collateralized Mortgage Obligations | — | 0.19 | % | — | — | — | 0.19 | % | ||||||||||||||||
Global Bonds | — | 0.27 | % | — | — | — | 0.27 | % | ||||||||||||||||
Municipal Bonds | — | 0.02 | % | — | — | — | 0.02 | % | ||||||||||||||||
U.S. Government Agency Mortgages | — | 0.02 | % | — | — | — | 0.02 | % | ||||||||||||||||
U.S. Treasury Obligations | — | 1.89 | % | — | — | — | 1.89 | % | ||||||||||||||||
Yankee Dollars | — | 0.31 | % | — | — | — | 0.31 | % | ||||||||||||||||
Time Deposits | 0.67 | % | 0.16 | % | — | 0.55 | % | — | 1.38 | % | ||||||||||||||
Mutual Funds | — | 0.04 | % | — | — | 9.57 | % | 9.61 | % | |||||||||||||||
Repurchase Areements | — | 0.72 | % | — | — | — | 0.72 | % | ||||||||||||||||
Other Assets (Liabilities) | -0.01 | % | -1.03 | % | -0.01 | % | 0.01 | % | 5.05 | % | 4.01 | % | ||||||||||||
Total Net Assets | 41.83 | % | 2.96 | % | 27.11 | % | 13.48 | % | 14.62 | % | 100.00 | % |
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2014.
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 | $ | (2,861 | ) | 3/16/15 | $ | (31 | ) | ||||||||
82 | 10-Year U.S Treasury Note Future | 10,397 | 3/20/15 | 63 | ||||||||||||
167 | S&P 500 E-mini Future | 17,138 | 3/20/15 | 425 | ||||||||||||
50 | S&P 500 Index Future | 25,655 | 3/19/15 | 950 | ||||||||||||
Net Unrealized Appreciation/(Depreciation) | 1,407 |
ˆ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
25
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Currency Contracts
Contract Amount (Local Currency) | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/14 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Purchased | ||||||||||||||||||||||||
58,000 | Australian Dollar | Citibank | 2/3/15 | $ | 47 | $ | 47 | $ | — | |||||||||||||||
3,117,202 | Brazilian Real | Bank of America | 1/5/15 | 1,171 | 1,172 | 1 | ||||||||||||||||||
15,996,699 | Brazilian Real | Citibank | 1/5/15 | 6,475 | 6,012 | (463 | ) | |||||||||||||||||
12,501,663 | Brazilian Real | JPMorgan Chase | 1/5/15 | 4,729 | 4,698 | (31 | ) | |||||||||||||||||
20,835,548 | Brazilian Real | BNP Paribas | 1/5/15 | 7,844 | 7,830 | (14 | ) | |||||||||||||||||
8,998,114 | Brazilian Real | BNP Paribas | 2/3/15 | 3,362 | 3,355 | (7 | ) | |||||||||||||||||
6,819,461 | Brazilian Real | Deutsche Bank | 1/5/15 | 2,651 | 2,563 | (88 | ) | |||||||||||||||||
62,000 | British Pound Sterling | Goldman Sachs | 2/3/15 | 97 | 97 | — | ||||||||||||||||||
999,000 | Canadian Dollar | Citibank | 3/3/15 | 858 | 859 | 1 | ||||||||||||||||||
3,857,750 | Chinese Renminbi | JPMorgan Chase | 4/7/16 | 650 | 606 | (44 | ) | |||||||||||||||||
12,485,660 | Chinese Renminbi | Deutsche Bank | 4/7/16 | 1,957 | 1,960 | 3 | ||||||||||||||||||
21,920,000 | Chinese Renminbi | Royal Bank of Scotland | 9/8/15 | 3,400 | 3,465 | 65 | ||||||||||||||||||
1,826,750 | Euro | Citibank | 2/19/15 | 2,288 | 2,211 | (77 | ) | |||||||||||||||||
2,594,000 | Euro | Bank of America | 2/19/15 | 3,184 | 3,140 | (44 | ) | |||||||||||||||||
1,115,031 | Euro | Wespac Banking Corp. | 2/19/15 | 1,370 | 1,350 | (20 | ) | |||||||||||||||||
23,313,893 | Japanese Yen | Bank of America | 1/5/15 | 194 | 195 | 1 | ||||||||||||||||||
14,969,871 | Japanese Yen | Westpac Banking Corp. | 1/5/15 | 126 | 125 | (1 | ) | |||||||||||||||||
27,616,236 | Japanese Yen | Citibank | 1/5/15 | 235 | 231 | (4 | ) | |||||||||||||||||
59,961,000 | Korean Won | Citibank | 2/26/15 | 55 | 54 | (1 | ) | |||||||||||||||||
34,555,000 | Mexican Peso | Citibank | 5/28/15 | 2,340 | 2,321 | (19 | ) | |||||||||||||||||
2,871,000 | Mexican Peso | BNP Paribas | 2/5/15 | 212 | 194 | (18 | ) | |||||||||||||||||
24,786,959 | Mexican Peso | BNP Paribas | 4/1/15 | 1,690 | 1,671 | (19 | ) | |||||||||||||||||
30,592,335 | Mexican Peso | Bank of America | 2/19/15 | 2,080 | 2,068 | (12 | ) | |||||||||||||||||
Total Currencies Purchased | $ | 47,013 | $ | 46,224 | $ | (791 | ) | |||||||||||||||||
Currencies Sold | ||||||||||||||||||||||||
119,000 | Australian Dollar | Goldman Sachs | 1/5/15 | $ | 97 | $ | 97 | $ | — | |||||||||||||||
6,819,461 | Brazilian Real | Deutsche Bank | 1/5/15 | 2,567 | 2,563 | 4 | ||||||||||||||||||
1,213,915 | Brazilian Real | Citibank | 1/5/15 | 515 | 456 | 59 | ||||||||||||||||||
20,835,548 | Brazilian Real | BNP Paribas | 1/5/15 | 7,946 | 7,830 | 116 | ||||||||||||||||||
3,117,202 | Brazilian Real | Bank of America | 1/5/15 | 1,174 | 1,172 | 2 | ||||||||||||||||||
14,782,783 | Brazilian Real | Citibank | 1/5/15 | 5,565 | 5,556 | 9 | ||||||||||||||||||
12,501,663 | Brazilian Real | JPMorgan Chase | 1/5/15 | 5,299 | 4,698 | 601 | ||||||||||||||||||
2,523,501 | Brazilian Real | JPMorgan Chase | 7/2/15 | 928 | 902 | 26 | ||||||||||||||||||
6,819,461 | Brazilian Real | Deutsche Bank | 7/2/15 | 2,514 | 2,437 | 77 | ||||||||||||||||||
77,000 | British Pound Sterling | JPMorgan Chase | 2/3/15 | 120 | 120 | — | ||||||||||||||||||
994,000 | Canadian Dollar | Citibank | 3/3/15 | 868 | 855 | 13 | ||||||||||||||||||
21,920,000 | Chinese Renminbi | Citibank | 9/8/15 | 3,424 | 3,465 | (41 | ) | |||||||||||||||||
16,343,410 | Chinese Renminbi | JPMorgan Chase | 4/7/16 | 2,542 | 2,566 | (24 | ) | |||||||||||||||||
614,000 | Euro | Citibank | 2/19/15 | 757 | 743 | 14 | ||||||||||||||||||
1,370,000 | Euro | Bank of America | 2/19/15 | 1,717 | 1,658 | 59 | ||||||||||||||||||
7,466,000 | Euro | Goldman Sachs | 2/19/15 | 9,313 | 9,037 | 276 | ||||||||||||||||||
65,900,000 | Japanese Yen | Deutsche Bank | 1/5/15 | 559 | 550 | 9 | ||||||||||||||||||
23,314,000 | Japanese Yen | Bank of America | 2/3/15 | 194 | 195 | (1 | ) | |||||||||||||||||
30,514,767 | Mexican Peso | BNP Paribas | 2/19/15 | 2,239 | 2,062 | 177 | ||||||||||||||||||
60,316,204 | Mexican Peso | Deutsche Bank | 5/28/15 | 4,369 | 4,052 | 317 | ||||||||||||||||||
24,709,992 | Mexican Peso | JPMorgan Chase | 4/1/15 | 1,802 | 1,666 | 136 | ||||||||||||||||||
1,924,000 | Mexican Peso | JPMorgan Chase | 2/5/15 | 136 | 130 | 6 | ||||||||||||||||||
Total Currencies Sold | $ | 54,645 | $ | 52,810 | $ | 1,835 | ||||||||||||||||||
Net Unrealized/Appreciation(Depreciation) | $ | 1,044 |
Amounts designated as “—” are $0 or has been rounded to $0.
See accompanying notes to financial statements.
26
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
Interest Rate Swap Agreementsˆ
Pay/Receive Floating Rate | Floating Rate Index | Fixed Rate | Expiration Date | Counterparty | Notional Amount (000) | Swap Premiums Paid/ (Received) (000) | Amount at Value (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||||||||||||
Pay | Brazil Cetip Interbank Deposit Rate Index | 11.25 | % | 1/4/21 | Bank of America | 5,800 BRL | (60 | ) | (51 | ) | 9 | |||||||||||||||||||||||||
$ | (60 | ) | $ | (51 | ) | $ | 9 |
Centrally Cleared Interest Rate Swap Agreementsˆ
Pay/Receive Floating Rate | Floating Rate Index | Fixed Rate | Expiration Date | Notional Amount (000) | Swap Premiums Paid/ (Received) (000) | Amount at Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||||
Receive | 3-Month LIBOR BBA | 2.75 | % | 6/19/43 | 200 USD | $ | 12 | $ | (2 | ) | $ | (14 | ) | |||||||||||||||
Receive | 3-Month LIBOR BBA | 3.25 | % | 12/18/43 | 4,200 USD | 201 | (487 | ) | (688 | ) | ||||||||||||||||||
Pay | 6-Month BBR BBSW | 4.00 | % | 6/18/19 | 1,600 AUD | 2 | 75 | 73 | ||||||||||||||||||||
Receive | 6-Month EURIBOR | 1.25 | % | 3/18/25 | 3,400 EUR | 80 | 163 | 83 | ||||||||||||||||||||
Receive | 3-Month LIBOR BBA | 2.42 | % | 12/3/24 | 3,400 USD | — | (42 | ) | (42 | ) | ||||||||||||||||||
Receive | 3-Month LIBOR BBA | 2.25 | % | 12/17/19 | 11,700 USD | (116 | ) | (271 | ) | (155 | ) | |||||||||||||||||
Receive | 3-Month LIBOR BBA | 1.50 | % | 12/17/17 | 32,200 USD | (50 | ) | (210 | ) | (160 | ) | |||||||||||||||||
Pay | 6-Month BBR BBSW | 4.25 | % | 12/17/24 | 1,400 AUD | (35 | ) | (110 | ) | (75 | ) | |||||||||||||||||
Receive | 3-Month BBR BBSW | 3.25 | % | 9/21/17 | 27,000 AUD | 5 | 202 | 197 | ||||||||||||||||||||
Receive | 6-Month LIBOR BBA | 2.00 | % | 3/18/45 | 1,700 EUR | 36 | (274 | ) | (310 | ) | ||||||||||||||||||
Receive | 3-Month LIBOR BBA | 2.50 | % | 12/17/21 | 2,900 USD | (72 | ) | (88 | ) | (16 | ) | |||||||||||||||||
Pay | 6-Month BBR BBSW | 3.25 | % | 12/17/19 | 200 AUD | 1 | 4 | 3 | ||||||||||||||||||||
Receive | 6-Month BBR BBSW | 3.75 | % | 12/17/24 | 100 AUD | (1 | ) | (4 | ) | (3 | ) | |||||||||||||||||
$ | 63 | $ | (1,044 | ) | $ | (1,107 | ) |
See accompanying notes to financial statements.
27
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 86.55% | ||||||||
Aerospace & Defense — 1.47% | ||||||||
59 | AAR Corp. | $ | 2 | |||||
62 | Aerovironment, Inc. (a) | 2 | ||||||
13 | Alliant Techsystems, Inc. | 2 | ||||||
11 | American Science & Engineering, Inc. | 1 | ||||||
105 | Astronics Corp. (a) | 6 | ||||||
2,600 | Cubic Corp. | 137 | ||||||
5,100 | Curtiss-Wright Corp. | 360 | ||||||
90 | Ducommun, Inc. (a) | 2 | ||||||
35 | Engility Holdings, Inc. (a) | 1 | ||||||
18,000 | Erickson Air-Crane, Inc. (a) | 150 | ||||||
4,579 | Esterline Technologies Corp. (a) | 502 | ||||||
90 | Exelis, Inc. | 2 | ||||||
338 | GenCorp, Inc. (a) | 6 | ||||||
378 | HEICO Corp. | 23 | ||||||
19 | Moog, Inc., Class – A (a) | 1 | ||||||
24 | National Presto Industries, Inc. | 1 | ||||||
9,485 | Orbital Sciences Corp. (a) | 255 | ||||||
52 | Sparton Corp. (a) | 1 | ||||||
8,444 | TASER International, Inc. (a) | 224 | ||||||
49 | Teledyne Technologies, Inc. (a) | 5 | ||||||
20 | Triumph Group, Inc. | 1 | ||||||
1,684 | ||||||||
Air Freight & Logistics — 0.37% | ||||||||
202 | Air Transport Services Group, Inc. (a) | 2 | ||||||
39 | Atlas Air Worldwide Holdings, Inc. (a) | 2 | ||||||
123 | Echo Global Logistics, Inc. (a) | 4 | ||||||
177 | Forward Air Corp. | 9 | ||||||
4,106 | Hub Group, Inc., Class – A (a) | 155 | ||||||
53 | Park-Ohio Holdings Corp. | 3 | ||||||
19,530 | UTI Worldwide, Inc. (a) | 236 | ||||||
63 | XPO Logistics, Inc. (a) | 3 | ||||||
414 | ||||||||
Airlines — 2.74% | ||||||||
79 | Allegiant Travel Co. | 12 | ||||||
4,920 | American Airlines Group, Inc. | 264 | ||||||
33,000 | Controladora Vuela Compania de Aviacion SAB de CV, ADR (a) | 298 | ||||||
20 | Copa Holdings SA, Class – A | 2 | ||||||
326 | Hawaiian Holdings, Inc. (a) | 8 | ||||||
32,821 | JetBlue Airways Corp. (a) | 521 | ||||||
128 | Republic Airways Holdings, Inc. (a) | 2 | ||||||
140 | SkyWest, Inc. | 2 | ||||||
29,444 | United Continental Holdings, Inc. (a) | 1,969 | ||||||
1,442 | Virgin America, Inc. (a) | 62 | ||||||
3,140 | ||||||||
Apparel Retail — 0.01% | ||||||||
84 | Destination XL Group, Inc. (a) | — | ||||||
50 | Shoe Carnival, Inc. | 1 | ||||||
216 | The Men’s Wearhouse, Inc. | 10 | ||||||
11 | ||||||||
Auto Components — 1.70% | ||||||||
383 | American Axle & Manufacturing Holdings, Inc. (a) | 9 | ||||||
2,178 | Autoliv, Inc. | 230 | ||||||
106 | Cooper Tire & Rubber Co. | 4 | ||||||
7,329 | Dana Holding Corp. | 159 |
Shares | Security Description | Value (000) | ||||||
Auto Components (continued) | ||||||||
153 | Dorman Products, Inc. (a) | $ | 7 | |||||
134 | Drew Industries, Inc. (a) | 7 | ||||||
12,901 | Fox Factory Holding Corp. (a) | 209 | ||||||
5,175 | Gentherm, Inc. (a) | 190 | ||||||
8,664 | Modine Manufacturing Co. (a) | 118 | ||||||
108 | Motorcar Parts of America, Inc. (a) | 3 | ||||||
144 | Remy International, Inc. | 3 | ||||||
34 | Shiloh Industries, Inc. (a) | 1 | ||||||
28,100 | Spartan Motors, Inc. | 148 | ||||||
72 | Standard Motor Products, Inc. | 3 | ||||||
12,739 | Stoneridge, Inc. (a) | 164 | ||||||
15 | Strattec Security Corp. | 1 | ||||||
5,900 | Superior Industries, Inc. | 117 | ||||||
6,886 | Tenneco, Inc. (a) | 389 | ||||||
222 | Tower International, Inc. (a) | 6 | ||||||
1,720 | TRW Automotive Holdings Corp. (a) | 177 | ||||||
1,945 | ||||||||
Automobiles — 0.00% | ||||||||
165 | Winnebago Industries, Inc. | 4 | ||||||
Banks — 4.28% | ||||||||
40 | 1st Source, Inc. | 1 | ||||||
66 | American National Bankshares, Inc. | 2 | ||||||
8,775 | Associated Banc-Corp. | 163 | ||||||
40 | Banco Latinoamericano de Comercio Exterior SA, Class – E | 1 | ||||||
6,508 | Bank of the Ozarks, Inc. | 247 | ||||||
9,930 | BankUnited, Inc. | 288 | ||||||
9,966 | BBCN Bancorp, Inc. | 143 | ||||||
40 | Camden National Corp. | 2 | ||||||
7 | Cardinal Financial Corp. | — | ||||||
77 | CNB Financial Corp. | 1 | ||||||
19,797 | Columbia Banking System, Inc. | 547 | ||||||
10,195 | Cullen/Frost Bankers, Inc. | 720 | ||||||
109 | Eagle BanCorp, Inc. (a) | 4 | ||||||
71 | Fidelity Southern Corp. | 1 | ||||||
60 | Financial Institutions, Inc. | 2 | ||||||
84 | First Bancorp | 2 | ||||||
260 | First Bancorp (a) | 2 | ||||||
80 | First Community Bancshares, Inc. | 1 | ||||||
199 | First Financial Bankshares, Inc. | 6 | ||||||
45 | First Financial Corp. | 2 | ||||||
50 | First Interstate BancSystem, Inc. | 1 | ||||||
8,225 | First Midwest BanCorp, Inc. | 141 | ||||||
165 | First Niagara Financial Group, Inc. | 1 | ||||||
40 | Great Southern Bancorp, Inc. | 2 | ||||||
50 | Hancock Holding Co. | 2 | ||||||
60 | Heartland Financial USA, Inc. | 2 | ||||||
247 | Home Bancshares, Inc. | 8 | ||||||
59 | Horizon Bancorp | 2 | ||||||
115 | Independent Bank Corp. | 2 | ||||||
22 | Independent Bank Group, Inc. | 1 | ||||||
60 | International Bancshares Corp. | 2 | ||||||
257 | Investors Bancorp, Inc. | 3 | ||||||
70 | MainSource Financial Group, Inc. | 1 | ||||||
2,500 | MB Financial, Inc. | 82 | ||||||
90 | MidSouth Bancorp, Inc. | 2 | ||||||
13,549 | National Penn Bancshares, Inc. | 143 |
See accompanying notes to financial statements.
28
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Banks (continued) | ||||||||
60 | NBT Bancorp, Inc. | $ | 2 | |||||
50 | Northrim BanCorp, Inc. | 1 | ||||||
85 | OFG Bancorp | 1 | ||||||
12,037 | PacWest Bancorp | 547 | ||||||
50 | Peoples Bancorp, Inc. | 1 | ||||||
8,380 | Popular, Inc. (a) | 285 | ||||||
10,608 | Square 1 Financial, Inc., Class – A (a) | 262 | ||||||
109 | Susquehanna Bancshares, Inc. | 1 | ||||||
4,290 | SVB Financial Group (a) | 498 | ||||||
5,592 | Synovus Financial Corp. | 151 | ||||||
24,690 | TCF Financial Corp. | 392 | ||||||
972 | Texas Capital Bancshares, Inc. (a) | 53 | ||||||
93 | TowneBank | 1 | ||||||
61 | Trustmark Corp. | 1 | ||||||
71 | Univest Corp. of Pennsylvania | 1 | ||||||
9 | Viewpoint Financial Group | — | ||||||
4,703 | Webster Financial Corp. | 153 | ||||||
40 | WesBanco, Inc. | 1 | ||||||
228 | Western Alliance Bancorp (a) | 6 | ||||||
30 | Wintrust Financial Corp. | 1 | ||||||
4,888 | ||||||||
Beverages — 0.02% | ||||||||
45 | Coca-Cola Bottling Co. Consolidated | 4 | ||||||
59 | Craft Brew Alliance, Inc. (a) | 1 | ||||||
68 | National Beverage Corp. (a) | 2 | ||||||
47 | The Boston Beer Co., Inc., Class – A (a) | 13 | ||||||
20 | ||||||||
Biotechnology — 3.32% | ||||||||
5,786 | Acadia Pharmaceuticals, Inc. (a) | 184 | ||||||
99 | Acceleron Pharma, Inc. (a) | 4 | ||||||
120 | Achillion Pharmaceuticals, Inc. (a) | 1 | ||||||
304 | Acorda Therapeutics, Inc. (a) | 12 | ||||||
93 | Actinium Pharmaceuticals, Inc. (a) | 1 | ||||||
12 | Adamas Pharmaceuticals, Inc. (a) | — | ||||||
175 | Aegerion Pharmaceuticals, Inc. (a) | 4 | ||||||
222 | Agenus, Inc. (a) | 1 | ||||||
85 | Agios Pharmaceuticals, Inc. (a) | 10 | ||||||
32 | Akebia Therapeutics, Inc. (a) | — | ||||||
35 | Alder Biopharmaceuticals, Inc. (a) | 1 | ||||||
90 | AMAG Pharmaceuticals, Inc. (a) | 4 | ||||||
71 | Anacor Pharmaceuticals, Inc. (a) | 2 | ||||||
46 | Applied Genetic Technologies Corp. (a) | 1 | ||||||
36 | Ardelyx, Inc. (a) | 1 | ||||||
1,224 | Arena Pharmaceuticals, Inc. (a) | 4 | ||||||
932 | ARIAD Pharmaceuticals, Inc. (a) | 6 | ||||||
588 | Array BioPharma, Inc. (a) | 3 | ||||||
278 | Arrowhead Research Corp.ˆ (a) | 2 | ||||||
30 | Atara Biotherapeutics, Inc. (a) | 1 | ||||||
47 | Auspex Pharmaceuticals, Inc. (a) | 2 | ||||||
31 | Avalanche Biotechnologies, Inc. (a) | 2 | ||||||
337 | BioCryst Pharmaceuticals, Inc. (a) | 4 | ||||||
974 | BioMarin Pharmaceutical, Inc. (a) | 88 | ||||||
24 | BioSpecifics Technologies Corp. (a) | 1 | ||||||
248 | BioTime, Inc. (a) | 1 | ||||||
123 | Bluebird Bio, Inc. (a) | 11 | ||||||
42 | Calithera Biosciences, Inc. (a) | 1 |
Shares | Security Description | Value (000) | ||||||
Biotechnology (continued) | ||||||||
32 | Cara Therapeutics, Inc. (a) | $ | — | |||||
4,459 | Celladon Corp. (a) | 87 | ||||||
458 | Celldex Therapeutics, Inc. (a) | 8 | ||||||
72 | Cellular Dynamics International, Inc. (a) | — | ||||||
8,574 | Cepheid, Inc. (a) | 465 | ||||||
173 | Chimerix, Inc. (a) | 7 | ||||||
140 | Clovis Oncology, Inc. (a) | 8 | ||||||
20 | Coherus Biosciences, Inc. (a) | – | ||||||
715 | CTI BioPharma Corp. (a) | 2 | ||||||
741 | Cytori Therapeutics, Inc. (a) | — | ||||||
46 | CytRx Corp. (a) | — | ||||||
29 | Dicerna Pharmaceuticals, Inc. (a) | — | ||||||
8,280 | Dyax Corp. (a) | 116 | ||||||
33 | Eleven Biotherapeutics, Inc. (a) | — | ||||||
98 | Emergent BioSolutions, Inc. (a) | 3 | ||||||
62 | Enanta Pharmaceuticals, Inc. (a) | 3 | ||||||
77 | Epizyme, Inc. (a) | 1 | ||||||
40 | Esperion Therapeutics, Inc. (a) | 2 | ||||||
26,360 | Exact Sciences Corp.ˆ (a) | 724 | ||||||
1,060 | Exelixis, Inc. (a) | 2 | ||||||
48 | Fibrogen, Inc. (a) | 1 | ||||||
91 | Five Prime Therapeutics, Inc. (a) | 2 | ||||||
27 | Flexion Therapeutics, Inc. (a) | 1 | ||||||
84 | Foundation Medicine, Inc. (a) | 2 | ||||||
173 | Galectin Therapeutics, Inc. (a) | 1 | ||||||
598 | Galena Biopharma, Inc. (a) | 1 | ||||||
48 | Genocea Biosciences, Inc. (a) | — | ||||||
6,361 | Genomic Health, Inc. (a) | 204 | ||||||
584 | Halozyme Therapeutics, Inc. (a) | 6 | ||||||
113 | Heron Therapeutics, Inc. (a) | 1 | ||||||
52 | Hyperion Therapeutics, Inc. (a) | 1 | ||||||
242 | Idera Pharmaceuticals, Inc. (a) | 1 | ||||||
29 | Immune Design Corp. (a) | 1 | ||||||
522 | ImmunoGen, Inc. (a) | 3 | ||||||
404 | Immunomedics, Inc. (a) | 2 | ||||||
271 | Infinity Pharmaceuticals, Inc. (a) | 5 | ||||||
324 | Inovio Pharmaceuticals, Inc. (a) | 3 | ||||||
276 | Insmed, Inc. (a) | 4 | ||||||
60 | Insys Therapeutics, Inc. (a) | 3 | ||||||
201 | Intrexon Corp. (a) | 6 | ||||||
678 | Ironwood Pharmaceuticals, Inc. (a) | 10 | ||||||
5,294 | Isis Pharmaceuticals, Inc. (a) | 328 | ||||||
82 | Karyopharm Therapeutics, Inc. (a) | 3 | ||||||
540 | Keryx Biopharmaceuticals, Inc.ˆ (a) | 8 | ||||||
5,783 | Kindred Biosciences, Inc. (a) | 43 | ||||||
45 | Kite Pharma, Inc. (a) | 3 | ||||||
105 | KYTHERA Biopharmaceuticals, Inc. (a) | 4 | ||||||
1,131 | Lexicon Pharmaceuticals, Inc. (a) | 1 | ||||||
117 | Ligand Pharmaceuticals, Inc., Class – B (a) | 6 | ||||||
121 | MacroGenics, Inc. (a) | 4 | ||||||
1,290 | MannKind Corp.ˆ (a) | 7 | ||||||
523 | Merrimack Pharmaceuticals, Inc. (a) | 6 | ||||||
526 | MiMedx Group, Inc. (a) | 6 | ||||||
29 | Mirati Therapeutics, Inc. (a) | 1 | ||||||
290 | Momenta Pharmaceuticals, Inc. (a) | 3 | ||||||
5,610 | Myriad Genetics, Inc.ˆ (a) | 191 | ||||||
173 | NanoViricides, Inc. (a) | — |
See accompanying notes to financial statements.
29
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Biotechnology (continued) | ||||||||
645 | Navidea Biopharmaceuticals, Inc. (a) | $ | 1 | |||||
76 | NeoStem, Inc. (a) | — | ||||||
337 | Neuralstem, Inc. (a) | 1 | ||||||
430 | Neurocrine Biosciences, Inc. (a) | 10 | ||||||
120 | NewLink Genetics Corp. (a) | 5 | ||||||
270 | Northwest Biotherapeutics, Inc. (a) | 1 | ||||||
1,308 | Novavax, Inc. (a) | 8 | ||||||
5,558 | NPS Pharmaceuticals, Inc. (a) | 199 | ||||||
153 | Ohr Pharmaceutical, Inc. (a) | 1 | ||||||
5,986 | OncoMed Pharmaceuticals, Inc.ˆ (a) | 130 | ||||||
359 | Oncothyreon, Inc. (a) | 1 | ||||||
2,559 | Ophthotech Corp. (a) | 115 | ||||||
1,118 | Opko Health, Inc. (a) | 11 | ||||||
681 | Orexigen Therapeutics, Inc. (a) | 4 | ||||||
364 | Organovo Holdings, Inc. (a) | 3 | ||||||
107 | Osiris Therapeutics, Inc. (a) | 2 | ||||||
32 | Otonomy, Inc. (a) | 1 | ||||||
1,208 | PDL BioPharma, Inc.ˆ | 9 | ||||||
840 | Peregrine Pharmaceuticals, Inc. (a) | 1 | ||||||
241 | Portola Pharmaceuticals, Inc. (a) | 7 | ||||||
125 | Progenics Pharmaceuticals, Inc. (a) | 1 | ||||||
45 | Prothena Corp. PLC (a) | 1 | ||||||
2,776 | PTC Therapeutics, Inc. (a) | 144 | ||||||
132 | Puma Biotechnology, Inc. (a) | 25 | ||||||
39 | Radius Health, Inc. (a) | 2 | ||||||
326 | Raptor Pharmaceuticals Corp. (a) | 3 | ||||||
126 | Receptos, Inc. (a) | 15 | ||||||
224 | Regado Biosciences, Inc. (a) | — | ||||||
81 | Regulus Therapeutics, Inc. (a) | 1 | ||||||
3,406 | Repligen Corp. (a) | 67 | ||||||
104 | Retrophin, Inc. (a) | 1 | ||||||
25 | Sage Therapeutics, Inc. (a) | 1 | ||||||
5,784 | Sangamo BioSciences, Inc. (a) | 88 | ||||||
247 | Sarepta Therapeutics, Inc. (a) | 4 | ||||||
4,155 | Seattle Genetics, Inc. (a) | 134 | ||||||
100 | Spectrum Pharmaceuticals, Inc. (a) | 1 | ||||||
54 | Stemline Therapeutics, Inc. (a) | 1 | ||||||
275 | Sunesis Pharmaceuticals, Inc. (a) | 1 | ||||||
121 | Synageva BioPharma Corp. (a) | 11 | ||||||
494 | Synergy Pharmaceuticals, Inc. | 2 | ||||||
322 | Synta Pharmaceuticals Corp. (a) | 1 | ||||||
40 | T2 Biosystems, Inc. (a) | 1 | ||||||
116 | Tesaro, Inc. (a) | 4 | ||||||
148 | Tetraphase Pharmaceuticals, Inc. (a) | 6 | ||||||
140 | TG Therapeutics, Inc. (a) | 2 | ||||||
440 | Theravance, Inc.ˆ | 6 | ||||||
355 | Threshold Pharmaceuticals, Inc. (a) | 1 | ||||||
18 | Tokai Pharmaceuticals, Inc. (a) | — | ||||||
1,192 | Ultragenyx Pharmaceutical, Inc. (a) | 52 | ||||||
219 | Vanda Pharmaceuticals, Inc. (a) | 3 | ||||||
38 | Verastem, Inc. (a) | — | ||||||
26 | Versartis, Inc. (a) | 1 | ||||||
49,200 | Vical, Inc. (a) | 52 | ||||||
17 | Vitae Pharmaceuticals, Inc. (a) | — | ||||||
36 | Vital Therapies, Inc. (a) | 1 | ||||||
27 | Xencor, Inc. (a) | — |
Shares | Security Description | Value (000) | ||||||
Biotechnology (continued) | ||||||||
394 | XOMA Corp. (a) | $ | 1 | |||||
30 | Zafgen, Inc. (a) | 1 | ||||||
435 | ZIOPHARM Oncology, Inc. (a) | 2 | ||||||
3,799 | ||||||||
Building Products — 1.67% | ||||||||
239 | AAON, Inc. | 5 | ||||||
49 | Advanced Drainage Systems, Inc. | 1 | ||||||
75 | American Woodmark Corp. (a) | 3 | ||||||
92 | Apogee Enterprises, Inc. | 4 | ||||||
3,100 | Armstrong World Industries, Inc. (a) | 158 | ||||||
272 | Builders FirstSource, Inc. (a) | 2 | ||||||
69 | Continental Building Products, Inc. (a) | 1 | ||||||
8,875 | Gibraltar Industries, Inc. (a) | 144 | ||||||
8,921 | Griffon Corp. | 119 | ||||||
96 | Insteel Industries, Inc. | 2 | ||||||
4,750 | Lennox International, Inc. | 453 | ||||||
4,298 | Masonite International Corp. (a) | 264 | ||||||
7,060 | NCI Building Systems, Inc. (a) | 131 | ||||||
33 | Norcraft Cos., Inc. (a) | 1 | ||||||
55 | Nortek, Inc. (a) | 4 | ||||||
47 | Patrick Industries, Inc. (a) | 2 | ||||||
276 | PGT, Inc. (a) | 3 | ||||||
92 | Ply Gem Holdings, Inc. (a) | 1 | ||||||
19 | Quanex Building Products Corp. | — | ||||||
2,210 | Simpson Manufacturing Co., Inc. | 76 | ||||||
4,510 | Trex Co., Inc. (a) | 192 | ||||||
6,543 | Universal Forest Products, Inc. | 349 | ||||||
1,915 | ||||||||
Capital Markets — 1.44% | ||||||||
36 | Arlington Asset Investment Corp. | 1 | ||||||
287 | BGC Partners, Inc., Class – A | 3 | ||||||
74 | Calamos Asset Management, Inc., Class – A | 1 | ||||||
5,500 | Capital Southwest Corp. | 208 | ||||||
109 | Cohen & Steers, Inc. | 5 | ||||||
73,400 | Cowen Group, Inc. (a) | 351 | ||||||
16 | Diamond Hill Investment Group, Inc. | 2 | ||||||
187 | Evercore Partners, Inc., Class – A | 10 | ||||||
40 | FBR & Co. (a) | 1 | ||||||
292 | Financial Engines, Inc. | 11 | ||||||
48 | GAMCO Investors, Inc., Class – A | 4 | ||||||
160 | Greenhill & Co., Inc. | 7 | ||||||
186 | HFF, Inc., Class – A | 7 | ||||||
27 | International Fcstone, Inc. (a) | 1 | ||||||
598 | Ladenburg Thalmann Financial Services, Inc. (a) | 2 | ||||||
3,000 | LPL Financial Holdings, Inc. | 134 | ||||||
57 | Manning & Napier, Inc. | 1 | ||||||
46 | Marcus & Millichap, Inc. (a) | 2 | ||||||
4 | Moelis & Co., Class – A | — | ||||||
50 | Om Asset Management PLC (a) | 1 | ||||||
41 | Oppenheimer Holdings, Inc., Class – A | 1 | ||||||
76 | Pzena Investment Management, Inc. | 1 | ||||||
4,315 | Raymond James Financial, Inc. | 246 | ||||||
16 | RCS Capital Corp., Class – A | — | ||||||
46 | Silvercrest Asset Management Group, Inc. | 1 | ||||||
10,644 | Stifel Financial Corp. (a) | 542 | ||||||
40 | Virtus Investment Partners, Inc. | 7 |
See accompanying notes to financial statements.
30
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Capital Markets (continued) | ||||||||
1,759 | Waddell & Reed Financial, Inc., Class – A | $ | 88 | |||||
43 | Westwood Holdings Group, Inc. | 3 | ||||||
610 | WisdomTree Investments, Inc. | 10 | ||||||
1,651 | ||||||||
Chemicals — 2.23% | ||||||||
85 | A. Schulman, Inc. | 3 | ||||||
121 | Advanced Emissions Solutions, Inc. (a) | 3 | ||||||
3,013 | Albemarle Corp. | 181 | ||||||
40 | Axiall Corp. | 2 | ||||||
172 | Balchem Corp. | 11 | ||||||
6,968 | Cabot Corp. | 306 | ||||||
301 | Calgon Carbon Corp. (a) | 6 | ||||||
1,360 | Celanese Corp., Series A | 82 | ||||||
86 | Chase Corp. | 3 | ||||||
483 | Chemtura Corp. (a) | 12 | ||||||
405 | Ferro Corp. (a) | 5 | ||||||
4,983 | Flotek Industries, Inc. (a) | 93 | ||||||
3,122 | FMC Corp. | 178 | ||||||
156 | FutureFuel Corp. | 2 | ||||||
284 | H.B. Fuller Co. | 13 | ||||||
3 | Hawkins, Inc. | — | ||||||
77 | Innophos Holdings, Inc. | 5 | ||||||
30 | Innospec, Inc. | 1 | ||||||
185 | Koppers Holdings, Inc. | 5 | ||||||
15,300 | Kraton Performance Polymers, Inc. (a) | 318 | ||||||
16 | Kronos Worldwide, Inc. | — | ||||||
12,800 | Landec Corp. (a) | 177 | ||||||
165 | Marrone Bio Innovations, Inc. (a) | 1 | ||||||
4,308 | Methanex Corp. | 197 | ||||||
58 | Minerals Technologies, Inc. | 4 | ||||||
1,096 | NewMarket Corp. | 442 | ||||||
69 | Olin Corp. | 2 | ||||||
257 | Omnova Solutions, Inc. (a) | 2 | ||||||
7,795 | PolyOne Corp. | 296 | ||||||
55 | Quaker Chemical Corp. | 5 | ||||||
217 | Senomyx, Inc. (a) | 1 | ||||||
10 | Sensient Technologies Corp. | 1 | ||||||
93 | Stepan Co. | 4 | ||||||
88 | Trecora Resources (a) | 1 | ||||||
7,870 | Tronox Ltd., Class – A | 188 | ||||||
33 | Zep, Inc. | — | ||||||
2,550 | ||||||||
Commercial Services & Supplies — 1.07% | ||||||||
51 | ABM Industries, Inc. | 1 | ||||||
160 | ACCO Brands Corp. (a) | 1 | ||||||
3,161 | ARC Document Solutions, Inc. (a) | 32 | ||||||
256 | Casella Waste Systems, Inc. (a) | 1 | ||||||
261 | Cenveo, Inc. (a) | 1 | ||||||
166 | Deluxe Corp. | 10 | ||||||
58 | EnerNOC, Inc. (a) | 1 | ||||||
107 | Ennis, Inc. | 1 | ||||||
398 | Healthcare Services Group, Inc. | 12 | ||||||
72 | Heritage-Crystal Clean, Inc. (a) | 1 | ||||||
2,805 | Herman Miller, Inc. | 83 | ||||||
236 | HNI Corp. | 12 | ||||||
33 | InnerWorkings, Inc. (a) | — |
Shares | Security Description | Value (000) | ||||||
Commercial Services & Supplies (continued) | ||||||||
376 | Interface, Inc. | $ | 6 | |||||
5,190 | KAR Auction Services, Inc. | 181 | ||||||
158 | Kimball International, Inc., Class – B | 1 | ||||||
274 | Knoll, Inc. | 6 | ||||||
6,191 | Mobile Mini, Inc. | 252 | ||||||
167 | MSA Safety, Inc. | 9 | ||||||
35 | Multi-Color Corp. | 2 | ||||||
139 | Performant Financial Corp. (a) | 1 | ||||||
70 | Quad Graphics, Inc. | 2 | ||||||
184 | Quest Resource Holding Corp. (a) | — | ||||||
80 | R.R. Donnelley & Sons Co. | 1 | ||||||
2,331 | Ritchie Bros. Auctioneers, Inc. | 63 | ||||||
82 | SP Plus Corp. (a) | 2 | ||||||
551 | Steelcase, Inc., Class – A | 10 | ||||||
2,913 | Team, Inc. (a) | 118 | ||||||
6,146 | Tetra Tech, Inc. | 164 | ||||||
2,447 | The Brink’s Co. | 60 | ||||||
10 | UniFirst Corp. | 1 | ||||||
4,033 | United Stationers, Inc. | 170 | ||||||
120 | US Ecology, Inc. | 5 | ||||||
162 | West Corp. | 5 | ||||||
1,215 | ||||||||
Communications Equipment — 0.60% | ||||||||
2,550 | ADTRAN, Inc. | 56 | ||||||
59 | Alliance Fiber Optic Products, Inc. | 1 | ||||||
72 | Applied Optoelectronics, Inc. (a) | 1 | ||||||
605 | Aruba Networks, Inc. (a) | 11 | ||||||
65 | BEL Fuse, Inc., Class – B | 2 | ||||||
57 | Black Box Corp. | 1 | ||||||
200 | CalAmp Corp. (a) | 4 | ||||||
595 | Ciena Corp. (a) | 12 | ||||||
52 | Clearfield, Inc. (a) | 1 | ||||||
343 | Extreme Networks, Inc. (a) | 1 | ||||||
559 | Finisar Corp. (a) | 11 | ||||||
55 | Harmonic, Inc. (a) | — | ||||||
589 | Infinera Corp. (a) | 9 | ||||||
211 | InterDigital, Inc. | 11 | ||||||
53 | Ixia (a) | 1 | ||||||
90 | KVH Industries, Inc. (a) | 1 | ||||||
52 | NumereX Corp., Class – A (a) | 1 | ||||||
901 | ParkerVision, Inc. (a) | 1 | ||||||
21,700 | PC-Telephone, Inc. | 187 | ||||||
213 | Plantronics, Inc. | 11 | ||||||
356 | Polycom, Inc. (a) | 5 | ||||||
42 | Procera Networks, Inc. (a) | — | ||||||
346 | Ruckus Wireless, Inc. (a) | 4 | ||||||
367 | ShoreTel, Inc. (a) | 3 | ||||||
4,390 | Sierra Wireless, Inc.ˆ (a) | 208 | ||||||
31,583 | Sonus Networks, Inc. (a) | 124 | ||||||
58 | TESSCO Technologies, Inc. | 2 | ||||||
167 | Ubiquiti Networks, Inc. | 5 | ||||||
235 | ViaSat, Inc. (a) | 15 | ||||||
689 | ||||||||
Computer & Electronics Retail — 0.00% | ||||||||
63 | hhgregg, Inc. (a) | — | ||||||
Computer Storage & Peripherals — 0.00% | ||||||||
366 | Quantum Corp. (a) | 1 |
See accompanying notes to financial statements.
31
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Computer Storage & Peripherals (continued) | ||||||||
466 | Violin Memory, Inc. (a) | $ | 2 | |||||
3 | ||||||||
Construction & Engineering — 0.80% | ||||||||
18 | Aegion Corp. (a) | — | ||||||
36 | Argan, Inc. | 1 | ||||||
40 | Chicago Bridge & Iron Co. | 2 | ||||||
28 | Comfort Systems USA, Inc. | — | ||||||
170 | Dycom Industries, Inc. (a) | 6 | ||||||
19,795 | Furmanite Corp. (a) | 155 | ||||||
31 | Great Lakes Dredge & Dock Co. (a) | — | ||||||
2,820 | KBR, Inc. | 48 | ||||||
13,755 | MasTec, Inc. (a) | 311 | ||||||
60 | MYR Group, Inc. (a) | 2 | ||||||
3,684 | Primoris Services Corp. | 86 | ||||||
6,147 | Quanta Services, Inc. (a) | 175 | ||||||
5,231 | Tutor Perini Corp. (a) | 126 | ||||||
912 | ||||||||
Construction Materials — 1.06% | ||||||||
9,969 | CaesarStone Sdot Yam Ltd. | 595 | ||||||
5,100 | Eagle Materials, Inc. | 388 | ||||||
6,726 | Headwaters, Inc. (a) | 101 | ||||||
1,190 | Martin Marietta Materials, Inc. | 131 | ||||||
9 | United States Lime & Minerals, Inc. | 1 | ||||||
78 | US Concrete, Inc. (a) | 2 | ||||||
1,218 | ||||||||
Consumer Finance — 0.41% | ||||||||
38 | Credit Acceptance Corp. (a) | 5 | ||||||
99 | Encore Capital Group, Inc. (a) | 4 | ||||||
50 | Enova International, Inc. (a) | 1 | ||||||
87 | EZCORP, Inc., Class – A (a) | 1 | ||||||
164 | First Cash Financial Services, Inc. (a) | 9 | ||||||
5,570 | Green Dot Corp., Class – A (a) | 114 | ||||||
23 | Nelnet, Inc., Class – A | 1 | ||||||
72 | Nicholas Financial, Inc. (a) | 1 | ||||||
5,539 | PRA Group, Inc. (a) | 322 | ||||||
60 | Santander Consumer USA Holdings, Inc. | 1 | ||||||
60 | World Acceptance Corp. (a) | 5 | ||||||
464 | ||||||||
Containers & Packaging — 1.17% | ||||||||
17 | AEP Industries, Inc. (a) | 1 | ||||||
6,341 | AptarGroup, Inc. | 424 | ||||||
22,523 | Berry Plastics Group, Inc. (a) | 711 | ||||||
1,859 | Graphic Packaging Holding Co. (a) | 25 | ||||||
34 | Greif, Inc., Class – A | 2 | ||||||
162 | Myers Industries, Inc. | 3 | ||||||
2,195 | Packaging Corp. of America | 171 | ||||||
1,337 | ||||||||
Data Processing & Outsourced Services — 0.00% | ||||||||
4 | Alliance Data Systems Corp. (a) | 1 | ||||||
Distributors — 0.01% | ||||||||
13 | Core-Mark Holding Co., Inc. | 1 | ||||||
256 | Pool Corp. | 16 | ||||||
17 | ||||||||
Diversified Consumer Services — 0.28% | ||||||||
5,992 | 2U, Inc. (a) | 117 |
Shares | Security Description | Value (000) | ||||||
Diversified Consumer Services (continued) | ||||||||
100 | American Public Education, Inc. (a) | $ | 4 | |||||
54 | Apollo Group, Inc., Class – A (a) | 2 | ||||||
169 | Bright Horizons Family Solutions, Inc. (a) | 8 | ||||||
66 | Capella Education Co. | 5 | ||||||
718 | Career Education Corp. (a) | 5 | ||||||
13 | Carriage Services, Inc. | — | ||||||
31 | Collectors Universe, Inc. | 1 | ||||||
265 | Grand Canyon Education, Inc. (a) | 12 | ||||||
356 | Hillenbrand, Inc. | 12 | ||||||
4 | ITT Educational Services, Inc. (a) | — | ||||||
238 | K12, Inc. (a) | 3 | ||||||
17 | Liberty Tax, Inc. (a) | 1 | ||||||
456 | LifeLock, Inc. (a) | 8 | ||||||
2,400 | Matthews International Corp., Class – A | 117 | ||||||
346 | Sotheby’s | 15 | ||||||
41 | Steiner Leisure Ltd. (a) | 2 | ||||||
61 | Strayer Education, Inc. (a) | 5 | ||||||
154 | Weight Watchers International, Inc. (a) | 4 | ||||||
321 | ||||||||
Diversified Financial Services — 0.38% | ||||||||
2,750 | Interactive Brokers Group, Inc., Class – A | 80 | ||||||
6,775 | Leucadia National Corp. | 153 | ||||||
214 | MarketAxess Holdings, Inc. | 15 | ||||||
3,005 | On Deck Capital, Inc. (a) | 67 | ||||||
4,809 | PHH Corp. (a) | 115 | ||||||
430 | ||||||||
Diversified Telecommunication Services — 0.91% | ||||||||
168 | 8x8, Inc. (a) | 2 | ||||||
288 | Cincinnati Bell, Inc. (a) | 1 | ||||||
13,924 | Cogent Communications Group, Inc. | 492 | ||||||
200 | Consolidated Communications Holdings, Inc. | 6 | ||||||
84 | FairPoint Communications, Inc. (a) | 1 | ||||||
210 | General Communication, Inc., Class – A (a) | 3 | ||||||
52 | Hawaiian Telcom Holdco, Inc. (a) | 1 | ||||||
160 | IDT Corp. | 3 | ||||||
320 | inContact, Inc. (a) | 3 | ||||||
192 | Inteliquent, Inc. | 4 | ||||||
29 | Intelsat SA (a) | 1 | ||||||
83 | Lumos Networks Corp. | 1 | ||||||
108 | MagicJack VocalTec Ltd. (a) | 1 | ||||||
50,100 | ORBCOMM, Inc. (a) | 328 | ||||||
18,909 | Premiere Global Services, Inc. (a) | 201 | ||||||
1,048 | ||||||||
Electric Utilities — 0.62% | ||||||||
8,904 | El Paso Electric Co. | 357 | ||||||
8,454 | ITC Holdings Corp. | 342 | ||||||
93 | PNM Resources, Inc. | 3 | ||||||
66 | Portland General Electric Co. | 2 | ||||||
170 | Spark Energy, Inc., Class – A | 2 | ||||||
92 | The Empire District Electric Co. | 3 | ||||||
57 | UIL Holdings Corp. | 2 | ||||||
70 | Unitil Corp. | 3 | ||||||
714 | ||||||||
Electrical Components & Equipment — 0.00% | ||||||||
38 | Vicor Corp. (a) | — |
See accompanying notes to financial statements.
32
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Electrical Equipment — 1.19% | ||||||||
2,630 | Acuity Brands, Inc. | $ | 368 | |||||
145 | AZZ, Inc. | 7 | ||||||
5,725 | Brady Corp. | 157 | ||||||
3,057 | Capstone Turbine Corp.ˆ (a) | 2 | ||||||
96 | Encore Wire Corp. | 4 | ||||||
4,061 | EnerSys | 251 | ||||||
11,182 | Enphase Energy, Inc. (a) | 160 | ||||||
251 | Franklin Electric Co., Inc. | 9 | ||||||
1,365 | FuelCell Energy, Inc. (a) | 2 | ||||||
391 | Generac Holdings, Inc. (a) | 18 | ||||||
12,400 | General Cable Corp. | 185 | ||||||
685 | Hubbell, Inc., Class – B | 73 | ||||||
19,300 | Orion Energy Systems, Inc. (a) | 106 | ||||||
256 | Polypore International, Inc. (a) | 12 | ||||||
27 | Power Solutions International, Inc. (a) | 1 | ||||||
30 | Preformed Line Products Co. | 2 | ||||||
25 | Regal-Beloit Corp. | 2 | ||||||
213 | Revolution Lighting Technologies, Inc. (a) | — | ||||||
177 | Thermon Group Holdings, Inc. (a) | 4 | ||||||
1,363 | ||||||||
Electronic Equipment, Instruments & Components — 3.69% | ||||||||
68 | Anixter International, Inc. (a) | 6 | ||||||
80 | Badger Meter, Inc. | 5 | ||||||
7,809 | Belden, Inc. | 614 | ||||||
61 | Benchmark Electronics, Inc. (a) | 2 | ||||||
8,989 | Cognex Corp. (a) | 371 | ||||||
7 | Coherent, Inc. (a) | — | ||||||
5,462 | Control4 Corp. (a) | 84 | ||||||
115 | CUI Global, Inc. (a) | 1 | ||||||
154 | Daktronics, Inc. | 2 | ||||||
35 | Dolby Laboratories, Inc., Class – A | 2 | ||||||
8,057 | DTS, Inc. (a) | 248 | ||||||
120 | Electro Rent Corp. | 2 | ||||||
100 | Fabrinet (a) | 3 | ||||||
84 | FARO Technologies, Inc. (a) | 5 | ||||||
240 | FEI Co. | 22 | ||||||
25,791 | Flextronics International Ltd. (a) | 288 | ||||||
5,863 | Insight Enterprises, Inc. (a) | 152 | ||||||
402 | InvenSense, Inc.ˆ (a) | 7 | ||||||
3,495 | IPG Photonics Corp. (a) | 262 | ||||||
6,100 | Itron, Inc. (a) | 258 | ||||||
10,717 | Jabil Circuit, Inc. | 234 | ||||||
138 | Kimball Electronics, Inc. (a) | 2 | ||||||
3,655 | Littelfuse, Inc. | 353 | ||||||
162 | Maxwell Technologies, Inc. (a) | 1 | ||||||
15 | Mesa Laboratories, Inc. | 1 | ||||||
223 | Methode Electronics, Inc. | 8 | ||||||
85 | MTS Systems Corp. | 6 | ||||||
7,300 | Multi-Fineline Electronix, Inc. (a) | 82 | ||||||
186 | Newport Corp. (a) | 4 | ||||||
27 | OSI Systems, Inc. (a) | 2 | ||||||
70 | PC Connection, Inc. | 2 | ||||||
117 | Plexus Corp. (a) | 5 | ||||||
235 | RealD, Inc. (a) | 3 | ||||||
5,961 | Rogers Corp. (a) | 484 |
Shares | Security Description | Value (000) | ||||||
Electronic Equipment, Instruments & Components (continued) | ||||||||
66 | Sanmina Corp. (a) | $ | 2 | |||||
258 | Speed Commerce, Inc. (a) | 1 | ||||||
41 | SYNNEX Corp. | 3 | ||||||
2,773 | Tech Data Corp. (a) | 175 | ||||||
13,889 | Trimble Navigation Ltd. (a) | 368 | ||||||
224 | TTM Technologies, Inc. (a) | 2 | ||||||
5,219 | Universal Display Corp.ˆ (a) | 145 | ||||||
119 | Vishay Intertechnology, Inc. | 2 | ||||||
4,219 | ||||||||
Energy Equipment & Services — 1.41% | ||||||||
6,296 | Atwood Oceanics, Inc. (a) | 180 | ||||||
183 | Basic Energy Services, Inc. (a) | 1 | ||||||
239 | C&J Energy Services, Inc. (a) | 3 | ||||||
111 | CARBO Ceramics, Inc.ˆ | 4 | ||||||
101 | Dawson Geophysical Co. | 1 | ||||||
33 | Diamond Offshore Drilling, Inc. | 1 | ||||||
2,481 | Dril-Quip, Inc. (a) | 191 | ||||||
133 | Forum Energy Technologies, Inc. (a) | 3 | ||||||
9 | Geospace Technologies Corp. (a) | — | ||||||
106 | Glori Energy, Inc. (a) | — | ||||||
7,246 | Gulf Island Fabrication, Inc. | 140 | ||||||
39 | GulfMark Offshore, Inc., Class – A | 1 | ||||||
11,947 | Helix Energy Solutions Group, Inc. (a) | 260 | ||||||
153 | ION Geophysical Corp. (a) | — | ||||||
160 | Matrix Service Co. (a) | 4 | ||||||
32,062 | McDermott International, Inc. (a) | 94 | ||||||
11,300 | Mitcham Industries, Inc. (a) | 67 | ||||||
110 | Nabors Industries Ltd. | 2 | ||||||
27,510 | Newpark Resources, Inc. (a) | 263 | ||||||
64 | Nordic American Offshore Ltd. | 1 | ||||||
200 | North Atlantic Drilling Ltd. | — | ||||||
410 | Parker Drilling Co. (a) | 1 | ||||||
39 | PHI, Inc. (a) | 1 | ||||||
259 | Pioneer Energy Services Corp. (a) | 1 | ||||||
193 | Profire Energy, Inc. (a) | — | ||||||
72 | RigNet, Inc. (a) | 3 | ||||||
19,193 | Superior Energy Services, Inc. | 388 | ||||||
103 | Tesco Corp. | 1 | ||||||
34 | Unit Corp. (a) | 1 | ||||||
1,891 | Vantage Drilling Co. (a) | 1 | ||||||
200 | Willbros Group, Inc. (a) | 1 | ||||||
1,614 | ||||||||
Food & Staples Retailing — 0.80% | ||||||||
9,435 | Casey’s General Stores, Inc. | 853 | ||||||
75 | Chefs’ Warehouse Holdings LLC (a) | 2 | ||||||
32 | Diplomat Pharmacy, Inc. (a) | 1 | ||||||
145 | Fairway Group Holdings Corp. (a) | — | ||||||
92 | Ingles Markets, Inc., Class – A | 3 | ||||||
265 | Liberator Medical Holdings, Inc. | 1 | ||||||
45 | Natural Grocers by Vitamin Cottage, Inc. (a) | 1 | ||||||
103 | PriceSmart, Inc. | 9 | ||||||
24 | Smart & Final Stores, Inc. (a) | — | ||||||
148 | The Andersons, Inc. | 8 | ||||||
243 | The Fresh Market, Inc. (a) | 10 | ||||||
282 | United Natural Foods, Inc. (a) | 22 |
See accompanying notes to financial statements.
33
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Food & Staples Retailing (continued) | ||||||||
119 | Village Super Market, Inc., Class – A | $ | 3 | |||||
913 | ||||||||
Food Products — 0.07% | ||||||||
288 | B&G Foods, Inc., Class – A | 9 | ||||||
341 | Boulder Brands, Inc. (a) | 4 | ||||||
82 | Calavo Growers, Inc. | 4 | ||||||
213 | Cal-Maine Foods, Inc. | 8 | ||||||
196 | Darling Ingredients, Inc. (a) | 4 | ||||||
132 | Diamond Foods, Inc. (a) | 4 | ||||||
42 | Farmer Brothers Co. (a) | 1 | ||||||
42 | Fresh Del Monte Produce, Inc. | 1 | ||||||
23 | Freshpet, Inc. (a) | — | ||||||
69 | Inventure Foods, Inc. (a) | 1 | ||||||
85 | J&J Snack Foods Corp. | 9 | ||||||
30 | John B Sanfilippo & Son, Inc. | 1 | ||||||
65 | Lancaster Colony Corp. | 6 | ||||||
15 | Lifeway Foods, Inc. (a) | — | ||||||
60 | Limoneira Co. | 1 | ||||||
150 | Omega Protein Corp. (a) | 2 | ||||||
127 | Sanderson Farms, Inc. | 11 | ||||||
1 | Seaboard Corp. (a) | 4 | ||||||
103 | Tootsie Roll Industries, Inc. | 3 | ||||||
123 | TreeHouse Foods, Inc. (a) | 11 | ||||||
84 | ||||||||
Gas Utilities — 0.61% | ||||||||
44 | Southwest Gas Corp. | 3 | ||||||
18,417 | UGI Corp. | 699 | ||||||
702 | ||||||||
Health Care Equipment & Supplies — 5.26% | ||||||||
127 | Abaxis, Inc. | 7 | ||||||
3,701 | Abiomed, Inc. (a) | 141 | ||||||
454 | Accuray, Inc. (a) | 3 | ||||||
86 | Anika Therapeutics, Inc. (a) | 4 | ||||||
614 | Antares Pharma, Inc. (a) | 2 | ||||||
116 | AtriCure, Inc. (a) | 2 | ||||||
9 | Atrion Corp. | 3 | ||||||
192 | Cantel Medical Corp. | 8 | ||||||
155 | Cardiovascular Systems, Inc. (a) | 5 | ||||||
433 | Cerus Corp. (a) | 3 | ||||||
147 | Cyberonics, Inc. (a) | 8 | ||||||
42 | Cynosure, Inc. (a) | 1 | ||||||
25,354 | DexCom, Inc. (a) | 1,397 | ||||||
1,770 | Edwards Lifesciences Corp. (a) | 225 | ||||||
362 | Endologix, Inc. (a) | 6 | ||||||
80 | Exactech, Inc. (a) | 2 | ||||||
244 | GenMark Diagnostics, Inc. (a) | 3 | ||||||
373 | Globus Medical, Inc. (a) | 9 | ||||||
40 | Greatbatch, Inc. (a) | 2 | ||||||
21 | Haemonetics Corp. (a) | 1 | ||||||
50 | Halyard Health, Inc. (a) | 2 | ||||||
1,596 | HeartWare International, Inc. (a) | 117 | ||||||
35 | Inogen, Inc. (a) | 1 | ||||||
26,509 | Insulet Corp. (a) | 1,222 | ||||||
62 | Integra LifeSciences Holdings Corp. (a) | 3 | ||||||
41 | K2M Group Holdings, Inc. (a) | 1 | ||||||
1,915 | LDR Holding Corp. (a) | 63 |
Shares | Security Description | Value (000) | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
253 | Masimo Corp. (a) | $ | 7 | |||||
231 | Meridian Bioscience, Inc. | 4 | ||||||
182 | Natus Medical, Inc. (a) | 7 | ||||||
6,177 | Neogen Corp. (a) | 306 | ||||||
24 | Nevro Corp. (a) | 1 | ||||||
8,225 | Novadaq Technologies, Inc. (a) | 137 | ||||||
221 | NuVasive, Inc. (a) | 10 | ||||||
347 | NxStage Medical, Inc. (a) | 6 | ||||||
42 | Ocular Therapeutix, Inc. (a) | 1 | ||||||
61 | Oxford Immunotec Global PLC (a) | 1 | ||||||
153 | Quidel Corp. (a) | 4 | ||||||
62 | Rockwell Medical Technologies, Inc. (a) | 1 | ||||||
209 | STAAR Surgical Co. (a) | 2 | ||||||
5,665 | STERIS Corp. | 367 | ||||||
10 | SurModics, Inc. (a) | — | ||||||
35 | Tandem Diabetes Care, Inc. (a) | — | ||||||
3,761 | The Cooper Cos., Inc. | 610 | ||||||
7,786 | The Spectranetics Corp. (a) | 269 | ||||||
322 | Thoratec Corp. (a) | 10 | ||||||
38 | TriVascular Technologies, Inc. (a) | — | ||||||
35,984 | Unilife Corp.ˆ (a) | 121 | ||||||
19 | Utah Medical Products, Inc. | 1 | ||||||
100 | Vascular Solutions, Inc. (a) | 3 | ||||||
50 | Veracyte, Inc. (a) | — | ||||||
303 | Volcano Corp. (a) | 5 | ||||||
11,387 | West Pharmaceutical Services, Inc. | 606 | ||||||
142 | Wright Medical Group, Inc. (a) | 4 | ||||||
10,064 | Zeltiq Aesthetics, Inc. (a) | 281 | ||||||
6,005 | ||||||||
Health Care Providers & Services — 2.69% | ||||||||
11 | AAC Holdings, Inc. (a) | — | ||||||
17,090 | Acadia Healthcare Co., Inc. (a) | 1,046 | ||||||
11 | Adeptus Health, Inc., Class – A (a) | — | ||||||
222 | Air Methods Corp. (a) | 10 | ||||||
19 | Alliance HealthCare Services, Inc. (a) | — | ||||||
65 | Almost Family, Inc. (a) | 2 | ||||||
86 | AmSurg Corp. (a) | 5 | ||||||
138 | Bio-Reference Laboratories, Inc. (a) | 4 | ||||||
75 | Biotelemetry, Inc. (a) | 1 | ||||||
161 | Capital Senior Living Corp. (a) | 4 | ||||||
3,194 | Catamaran Corp. (a) | 165 | ||||||
116 | Chemed Corp. | 12 | ||||||
27 | Civitas Solutions, Inc. (a) | — | ||||||
66 | CorVel Corp. (a) | 2 | ||||||
3,801 | ExamWorks Group, Inc. (a) | 158 | ||||||
390 | Five Star Quality Care, Inc. (a) | 2 | ||||||
190 | Gentiva Health Services, Inc. (a) | 4 | ||||||
81 | Hanger, Inc. (a) | 2 | ||||||
32 | HealthEquity, Inc. (a) | 1 | ||||||
430 | HealthSouth Corp. | 17 | ||||||
92 | Healthways, Inc. (a) | 2 | ||||||
1,924 | iKang Healthcare Group, Inc., ADR (a) | 29 | ||||||
60 | IPC The Hospitalist Co., Inc. (a) | 3 | ||||||
94 | Kindred Healthcare, Inc. | 2 | ||||||
52 | Landauer, Inc. | 2 | ||||||
60 | LHC Group, Inc. (a) | 2 | ||||||
9,255 | LifePoint Hospitals, Inc. (a) | 666 |
See accompanying notes to financial statements.
34
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Health Care Providers & Services (continued) | ||||||||
30 | Magellan Health Services, Inc. (a) | $ | 2 | |||||
4,450 | MEDNAX, Inc. (a) | 294 | ||||||
205 | Molina Heathcare, Inc. (a) | 11 | ||||||
1,515 | MWI Veterinary Supply, Inc. (a) | 257 | ||||||
26 | National Healthcare Corp. | 2 | ||||||
57 | National Research Corp., Class – A | 1 | ||||||
1,954 | Owens & Minor, Inc. | 69 | ||||||
67 | Providence Service Corp. (a) | 2 | ||||||
160 | RadNet, Inc. (a) | 1 | ||||||
546 | Select Medical Holdings Corp. | 8 | ||||||
343 | Skilled Healthcare Group, Inc. (a) | 3 | ||||||
71 | Surgical Care Affiliates, Inc. (a) | 2 | ||||||
1,979 | Team Health Holdings, Inc. (a) | 114 | ||||||
142 | The Ensign Group, Inc. | 6 | ||||||
70 | Triple-S Management Corp., Class – A (a) | 2 | ||||||
72 | U.S. Physical Therapy, Inc. | 3 | ||||||
1,862 | WellCare Health Plans, Inc. (a) | 153 | ||||||
3,071 | ||||||||
Health Care Supplies — 0.06% | ||||||||
6,701 | OraSure Technologies, Inc. (a) | 68 | ||||||
Health Care Technology — 0.94% | ||||||||
9,200 | Allscripts Healthcare Solutions, Inc. (a) | 117 | ||||||
44 | Castlight Health, Inc., Class – B (a) | 1 | ||||||
62 | Computer Programs & Systems, Inc. | 4 | ||||||
128 | HealthStream, Inc. (a) | 4 | ||||||
497 | HMS Holdings Corp. (a) | 11 | ||||||
32 | Imprivata, Inc. (a) | — | ||||||
324 | MedAssets, Inc. (a) | 6 | ||||||
11,924 | Medidata Solutions, Inc. (a) | 570 | ||||||
362 | Merge Healthcare, Inc. (a) | 1 | ||||||
10,761 | Omnicell, Inc. (a) | 356 | ||||||
278 | Quality Systems, Inc. | 4 | ||||||
115 | Vocera Communications, Inc. (a) | 1 | ||||||
1,075 | ||||||||
Hotels, Restaurants & Leisure — 2.39% | ||||||||
34 | BJ’s Restaurant, Inc. (a) | 2 | ||||||
438 | Bloomin’ Brands, Inc. (a) | 11 | ||||||
332 | Boyd Gaming Corp. (a) | 4 | ||||||
88 | Bravo Brio Restaurant Group, Inc. (a) | 1 | ||||||
4,000 | Buffalo Wild Wings, Inc. (a) | 723 | ||||||
210 | Caesars Acquisition Co., Class – A (a) | 2 | ||||||
25 | Caesars Entertainment Corp. (a) | — | ||||||
31,600 | Century Casinos, Inc. (a) | 160 | ||||||
47 | Churchill Downs, Inc. | 4 | ||||||
90 | Chuy’s Holdings, Inc. (a) | 2 | ||||||
132 | ClubCorp Holdings, Inc. | 2 | ||||||
102 | Cracker Barrel Old Country Store, Inc. | 14 | ||||||
19 | Dave & Buster’s Entertainment, Inc. (a) | 1 | ||||||
5,224 | Del Frisco’s Restaurant Group, Inc. (a) | 124 | ||||||
354 | Denny’s Corp. (a) | 4 | ||||||
5,765 | Diamond Resorts International, Inc. (a) | 161 | ||||||
39 | DineEquity, Inc. | 4 | ||||||
22 | El Pollo Loco Holdings, Inc. (a) | — | ||||||
16 | Famous Dave’s of America, Inc. (a) | — | ||||||
5,307 | Fiesta Restaurant Group, Inc. (a) | 323 | ||||||
30 | Hyatt Hotels Corp., Class – A (a) | 2 |
Shares | Security Description | Value (000) | ||||||
Hotels, Restaurants & Leisure (continued) | ||||||||
55 | Ignite Restaurant Group, Inc. (a) | $ | — | |||||
5,566 | International Speedway Corp., Class – A | 176 | ||||||
276 | Interval Leisure Group, Inc. | 6 | ||||||
227 | Jack in the Box, Inc. | 18 | ||||||
89 | Jamba, Inc. (a) | 1 | ||||||
368 | Krispy Kreme Doughnuts, Inc. (a) | 7 | ||||||
8,615 | La Quinta Holdings, Inc. (a) | 190 | ||||||
50 | Life Time Fitness, Inc. (a) | 3 | ||||||
123 | Marcus Corp. | 2 | ||||||
114 | Monarch Casino & Resort, Inc. (a) | 2 | ||||||
62 | Morgans Hotel Group Co. (a) | — | ||||||
18 | Nathan’s Famous, Inc. (a) | 1 | ||||||
65 | Noodles & Co. (a) | 2 | ||||||
173 | Papa John’s International, Inc. | 10 | ||||||
44 | Papa Murphy’s Holdings, Inc. (a) | 1 | ||||||
337 | Pinnacle Entertainment, Inc. (a) | 7 | ||||||
134 | Popeyes Louisiana Kitchen, Inc. (a) | 8 | ||||||
81 | Potbelly Corp. (a) | 1 | ||||||
80 | Red Robin Gourmet Burgers, Inc. (a) | 6 | ||||||
31,660 | Ruby Tuesday, Inc. (a) | 217 | ||||||
278 | Ruth’s Hospitality Group, Inc. | 4 | ||||||
195 | Scientific Games Corp. (a) | 2 | ||||||
120 | SeaWorld Entertainment, Inc. | 2 | ||||||
215 | Sonic Corp. | 6 | ||||||
90 | Speedway Motorsports, Inc. | 2 | ||||||
5,870 | Texas Roadhouse, Inc., Class – A | 198 | ||||||
284 | The Cheesecake Factory, Inc. | 14 | ||||||
16 | The Habit Restaurants, Inc. (a) | 1 | ||||||
2,964 | Vail Resorts, Inc. | 270 | ||||||
1,134 | Zoe’s Kitchen, Inc. (a) | 34 | ||||||
2,735 | ||||||||
Household Durables — 0.50% | ||||||||
63 | Beazer Homes USA, Inc. (a) | 1 | ||||||
53 | Cavco Industries, Inc. (a) | 4 | ||||||
61 | CSS Industries, Inc. | 2 | ||||||
50 | Flexsteel Industries, Inc. | 2 | ||||||
3,128 | Harman International Industries, Inc. | 333 | ||||||
65 | Helen of Troy Ltd. (a) | 4 | ||||||
45 | Installed Building Products, Inc. (a) | 1 | ||||||
622 | iRobot Corp. (a) | 21 | ||||||
349 | KB Home | 6 | ||||||
252 | La-Z-Boy, Inc. | 7 | ||||||
38 | LGI Homes, Inc. (a) | 1 | ||||||
122 | Libbey, Inc. (a) | 4 | ||||||
118 | Lifetime Brands, Inc. | 2 | ||||||
4,938 | Meritage Homes Corp. (a) | 177 | ||||||
28 | NACCO Industries, Inc., Class – A | 2 | ||||||
77 | The Dixie Group, Inc. (a) | 1 | ||||||
67 | TRI Pointe Homes, Inc. (a) | 1 | ||||||
57 | Turtle Beach Corp. (a) | — | ||||||
90 | Universal Electronics, Inc. (a) | 6 | ||||||
16 | William Lyon Homes, Class – A (a) | — | ||||||
575 | ||||||||
Household Products — 0.01% | ||||||||
32 | Central Garden & Pet Co., Class – A (a) | — | ||||||
207 | Harbinger Group, Inc. (a) | 3 | ||||||
36 | Oil-Dri Corp. of America | 1 |
See accompanying notes to financial statements.
35
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Household Products (continued) | ||||||||
31 | Orchids Paper Products Co. | $ | 1 | |||||
84 | WD-40 Co. | 7 | ||||||
12 | ||||||||
Independent Power and Renewable Electricity Producers — 0.01% | ||||||||
13 | Abengoa Yield PLC | — | ||||||
40 | Ormat Technologies, Inc. | 1 | ||||||
223 | Pattern Energy Group, Inc. | 6 | ||||||
36 | TerraForm Power, Inc., Class – A | 1 | ||||||
8 | ||||||||
Industrial Conglomerates — 0.13% | ||||||||
1,648 | Carlisle Cos., Inc. | 149 | ||||||
204 | Raven Industries, Inc. | 5 | ||||||
154 | ||||||||
Insurance — 2.67% | ||||||||
867 | Alleghany Corp. (a) | 402 | ||||||
4,196 | American Equity Investment Life Holding Co. | 122 | ||||||
12,329 | American Financial Group, Inc. | 748 | ||||||
127 | AmTrust Financial Services, Inc. | 7 | ||||||
7,057 | Argo Group International Holdings Ltd. | 391 | ||||||
1,917 | Aspen Insurance Holdings Ltd. | 84 | ||||||
50 | Atlas Financial Holdings, Inc. (a) | 1 | ||||||
226 | Crawford & Co. | 2 | ||||||
104 | eHealth, Inc. (a) | 3 | ||||||
108 | Employers Holdings, Inc. | 3 | ||||||
2,425 | Endurance Specialty Holdings Ltd. | 145 | ||||||
1,649 | Everest Re Group Ltd. | 281 | ||||||
68 | Federated National Holding Co. | 2 | ||||||
8,000 | First American Financial Corp. | 271 | ||||||
2,980 | HCC Insurance Holdings, Inc. | 159 | ||||||
35 | HCI Group, Inc. | 2 | ||||||
34 | Heritage Insurance Holdings, Inc. (a) | 1 | ||||||
25 | Infinity Property & Casualty Corp. | 2 | ||||||
176 | Maiden Holdings Ltd. | 2 | ||||||
190 | MBIA, Inc. (a) | 2 | ||||||
9 | National Interstate Corp. | — | ||||||
110 | OneBeacon Insurance Group Ltd. | 2 | ||||||
30 | Phoenix Cos., Inc. (a) | 2 | ||||||
1,081 | Primerica, Inc. | 59 | ||||||
23 | State National Cos., Inc. | — | ||||||
3,806 | Symetra Financial Corp. | 88 | ||||||
80 | United Insurance Holdings Corp. | 2 | ||||||
268 | Universal Insurance Holdings, Inc. | 5 | ||||||
5,046 | W.R. Berkley Corp. | 259 | ||||||
3,047 | ||||||||
Internet & Catalog Retail — 0.03% | ||||||||
185 | 1-800-FLOWERS.COM, Inc., Class – A (a) | 2 | ||||||
70 | Blue Nile, Inc. (a) | 3 | ||||||
71 | Coupons.com, Inc. (a) | 1 | ||||||
111 | Evine Live, Inc. (a) | 1 | ||||||
15 | FTD Cos., Inc. (a) | 1 | ||||||
188 | HSN, Inc. | 13 | ||||||
170 | NutriSystem, Inc. | 3 | ||||||
137 | Orbitz Worldwide, Inc. (a) | 1 | ||||||
66 | Overstock.com, Inc. (a) | 2 |
Shares | Security Description | Value (000) | ||||||
Internet & Catalog Retail (continued) | ||||||||
107 | PetMed Express, Inc. | $ | 2 | |||||
185 | RetailMeNot, Inc. (a) | 3 | ||||||
133 | Shutterfly, Inc. (a) | 5 | ||||||
48 | Travelport Worldwide Ltd. | 1 | ||||||
20 | Wayfair, Inc., Class – A (a) | — | ||||||
38 | ||||||||
Internet Software & Services — 3.30% | ||||||||
57 | Aerohive Networks, Inc. (a) | — | ||||||
3,660 | Akamai Technologies, Inc. (a) | 230 | ||||||
75 | Amber Road, Inc. (a) | 1 | ||||||
227 | Angie’s List, Inc. (a) | 1 | ||||||
40 | AOL, Inc. (a) | 2 | ||||||
111 | Bazaarvoice, Inc. (a) | 1 | ||||||
6,074 | Benefitfocus, Inc. (a) | 199 | ||||||
129 | Blucora, Inc. (a) | 2 | ||||||
41 | Borderfree, Inc. (a) | — | ||||||
30,122 | Brightcove, Inc. (a) | 234 | ||||||
88 | Carbonite, Inc. (a) | 1 | ||||||
38 | Care.com, Inc. (a) | — | ||||||
120 | ChannelAdvisor Corp. (a) | 3 | ||||||
189 | Cimpress NV (a) | 14 | ||||||
4,511 | comScore, Inc. (a) | 209 | ||||||
178 | Constant Contact, Inc. (a) | 7 | ||||||
302 | Cornerstone OnDemand, Inc. (a) | 11 | ||||||
108 | Cvent, Inc. (a) | 3 | ||||||
255 | DealerTrack Holdings, Inc. (a) | 11 | ||||||
7,090 | Demandware, Inc. (a) | 409 | ||||||
233 | Dice Holdings, Inc. (a) | 2 | ||||||
105 | E2open, Inc. (a) | 1 | ||||||
370 | EarthLink Holdings Corp. | 2 | ||||||
181 | Endurance International Group Holdings, Inc. (a) | 3 | ||||||
9,563 | Envestnet, Inc. (a) | 471 | ||||||
44 | Everyday Health, Inc. (a) | 1 | ||||||
87 | Five9, Inc. (a) | — | ||||||
173 | Global Eagle Entertainment, Inc. (a) | 2 | ||||||
14,426 | Gogo, Inc.ˆ (a) | 238 | ||||||
53 | GrubHub, Inc. (a) | 2 | ||||||
107 | GTT Communications, Inc. (a) | 1 | ||||||
3,997 | Hortonworks, Inc. (a) | 108 | ||||||
302 | j2 Global, Inc. | 19 | ||||||
6,202 | Lands’ End, Inc. (a) | 336 | ||||||
302 | LivePerson, Inc. (a) | 4 | ||||||
137 | LogMeln, Inc. (a) | 7 | ||||||
214 | Marchex, Inc. | 1 | ||||||
134 | Marin Software, Inc. (a) | 1 | ||||||
2,423 | Marketo, Inc. (a) | 79 | ||||||
12,500 | Monster Worldwide, Inc. (a) | 58 | ||||||
369 | NIC, Inc. | 7 | ||||||
38 | Opower, Inc. (a) | 1 | ||||||
130 | Perficient, Inc. (a) | 2 | ||||||
43 | Q2 Holdings, Inc. (a) | 1 | ||||||
15,680 | QuinStreet, Inc. (a) | 95 | ||||||
25,600 | RealNetworks, Inc. (a) | 180 | ||||||
7 | Reis, Inc. | — | ||||||
110 | Rocket Fuel, Inc. (a) | 2 | ||||||
160 | SciQuest, Inc. (a) | 2 |
See accompanying notes to financial statements.
36
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Internet Software & Services (continued) | ||||||||
1,032 | Shutterstock, Inc. (a) | $ | 71 | |||||
90 | SPS Commerce, Inc. (a) | 5 | ||||||
70 | Stamps.com, Inc. (a) | 3 | ||||||
113 | Textura Corp. (a) | 3 | ||||||
21 | Travelzoo, Inc. (a) | — | ||||||
11,259 | TrueCar, Inc. (a) | 258 | ||||||
2,260 | Trulia, Inc. (a) | 104 | ||||||
429 | Unwired Planet, Inc. (a) | — | ||||||
4,312 | Web.com Group, Inc. (a) | 82 | ||||||
220 | WebMD Health Corp. (a) | 9 | ||||||
82 | Wix.com Ltd. (a) | 2 | ||||||
14,748 | XO Group, Inc. (a) | 269 | ||||||
181 | Xoom Corp. (a) | 3 | ||||||
268 | Zix Corp. (a) | 1 | ||||||
3,774 | ||||||||
Investment Banking & Brokerage — 0.13% | ||||||||
6,200 | E*Trade Financial Corp. (a) | 150 | ||||||
IT Services — 1.12% | ||||||||
354 | Blackhawk Network Holdings, Inc. (a) | 14 | ||||||
63 | Booz Allen Hamilton Holding Corp. | 2 | ||||||
22 | CACI International, Inc., Class – A (a) | 2 | ||||||
252 | Cardtronics, Inc. (a) | 10 | ||||||
100 | Cass Information Systems, Inc. | 5 | ||||||
201 | Computer Task Group, Inc. | 2 | ||||||
84 | Convergys Corp. | 2 | ||||||
52 | CoreLogic, Inc. (a) | 2 | ||||||
150 | CSG Systems International, Inc. | 4 | ||||||
17 | DST Systems, Inc. | 2 | ||||||
202 | EPAM Systems, Inc. (a) | 10 | ||||||
289 | Euronet Worldwide, Inc. (a) | 16 | ||||||
372 | EVERTEC, Inc. | 8 | ||||||
83 | Exlservice Holdings, Inc. (a) | 2 | ||||||
66 | Forrester Research, Inc. | 3 | ||||||
250 | Global Cash Access Holdings, Inc. (a) | 2 | ||||||
1,404 | Global Payments, Inc. | 113 | ||||||
203 | Heartland Payment Systems, Inc. | 11 | ||||||
103 | Higher One Holdings, Inc. (a) | — | ||||||
259 | iGATE Corp. (a) | 10 | ||||||
9,964 | Jack Henry & Associates, Inc. | 618 | ||||||
40 | Leidos Holdings, Inc. | 2 | ||||||
352 | Lionbridge Technologies, Inc. (a) | 2 | ||||||
42 | Luxoft Holding, Inc. (a) | 2 | ||||||
53 | ManTech International Corp., Class – A | 2 | ||||||
385 | MAXIMUS, Inc. | 21 | ||||||
200 | MoneyGram International, Inc. (a) | 2 | ||||||
359 | NeuStar, Inc., Class – A (a) | 10 | ||||||
702 | Sapient Corp. (a) | 17 | ||||||
260 | Science Applications International Corp. | 13 | ||||||
92 | Sykes Enterprises, Inc. (a) | 2 | ||||||
4,726 | Syntel, Inc. (a) | 212 | ||||||
126 | TeleTech Holdings, Inc. (a) | 3 | ||||||
252 | The Hackett Group, Inc. | 2 | ||||||
236 | Unisys Corp. (a) | 7 | ||||||
3,010 | VeriFone Systems, Inc. (a) | 112 | ||||||
147 | Virtusa Corp. (a) | 6 |
Shares | Security Description | Value (000) | ||||||
IT Services (continued) | ||||||||
221 | WEX, Inc. (a) | $ | 22 | |||||
1,275 | ||||||||
Leisure Products — 0.13% | ||||||||
73 | Arctic Cat, Inc. | 3 | ||||||
263 | Brunswick Corp. | 13 | ||||||
30 | Escalade, Inc. | — | ||||||
66 | Johnson Outdoors, Inc., Class – A | 2 | ||||||
24,413 | Leapfrog Enterprises, Inc. (a) | 115 | ||||||
38 | Malibu Boats, Inc., Class – A (a) | 1 | ||||||
92 | Marine Products Corp. | 1 | ||||||
107 | Nautilus, Inc. (a) | 2 | ||||||
325 | Smith & Wesson Holding Corp. (a) | 3 | ||||||
158 | Sturm, Ruger & Co., Inc. | 5 | ||||||
145 | ||||||||
Life Sciences Tools & Services — 0.91% | ||||||||
136 | Accelerate Diagnostics, Inc. (a) | 3 | ||||||
356 | Affymetrix, Inc. (a) | 4 | ||||||
142 | Albany Molecular Research, Inc. (a) | 2 | ||||||
15 | Bio-Rad Laboratories, Inc., Class – A (a) | 2 | ||||||
20 | Bio-Techne Corp. | 2 | ||||||
118 | Bruker Biosciences Corp. (a) | 2 | ||||||
253 | Cambrex Corp. (a) | 5 | ||||||
39 | Charles River Laboratories International, Inc. (a) | 2 | ||||||
139 | ENZO Biochem, Inc. (a) | 1 | ||||||
6,287 | Fluidigm Corp. (a) | 212 | ||||||
107 | Furiex Pharmaceuticals, Inc.* (a)(b) | — | ||||||
2,550 | Illumina, Inc. (a) | 470 | ||||||
28 | INC Research Holdings, Inc., Class – A (a) | 1 | ||||||
357 | Luminex Corp. (a) | 7 | ||||||
44 | NanoString Technologies, Inc. (a) | 1 | ||||||
334 | Pacific Boisciences of California, Inc. (a) | 3 | ||||||
3,788 | PAREXEL International Corp. (a) | 210 | ||||||
79 | PRA Health Sciences, Inc. (a) | 2 | ||||||
4,777 | QIAGEN NV (a) | 112 | ||||||
632 | Sequenom, Inc. (a) | 2 | ||||||
1,043 | ||||||||
Machinery — 3.33% | ||||||||
263 | Accuride Corp. (a) | 1 | ||||||
5,430 | Actuant Corp., Class – A | 148 | ||||||
40 | AGCO Corp. | 2 | ||||||
9 | Albany International Corp., Class – A | — | ||||||
150 | Altra Holdings, Inc. | 4 | ||||||
88 | American Railcar Industries | 5 | ||||||
86 | Ampco-Pittsburgh Corp. | 2 | ||||||
13 | ARC Group Worldwide, Inc. (a) | — | ||||||
276 | Blount International, Inc. (a) | 5 | ||||||
75 | Briggs & Stratton Corp. | 2 | ||||||
173 | Chart Industries, Inc. (a) | 6 | ||||||
89 | CIRCOR International, Inc. | 5 | ||||||
270 | CLARCOR, Inc. | 18 | ||||||
4,954 | Columbus McKinnon Corp./NY | 139 | ||||||
129 | Commercial Vehicle Group, Inc. (a) | 1 | ||||||
115 | Douglas Dynamics, Inc. | 2 | ||||||
86 | Energy Recovery, Inc. (a) | — | ||||||
125 | ENPRO Industries, Inc. (a) | 8 | ||||||
228 | Global Brass & Copper Holdings, Inc. | 3 |
See accompanying notes to financial statements.
37
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Machinery (continued) | ||||||||
55 | Graham Corp. | $ | 2 | |||||
5,127 | Harsco Corp. | 97 | ||||||
81 | Hyster-Yale Materials Handling, Inc. | 6 | ||||||
4,940 | IDEX Corp. | 385 | ||||||
10,260 | ITT Corp. | 415 | ||||||
163 | John Bean Technologies Corp. | 5 | ||||||
11 | Kadant, Inc. | — | ||||||
5,791 | Lincoln Electric Holdings, Inc. | 400 | ||||||
55 | Lindsay Corp. | 5 | ||||||
85 | Lydall, Inc. (a) | 3 | ||||||
89 | Manitex International, Inc. (a) | 1 | ||||||
18,447 | Meritor, Inc. (a) | 279 | ||||||
83 | Miller Industries, Inc. | 2 | ||||||
209 | Mueller Industries, Inc. | 7 | ||||||
9,674 | Mueller Water Products, Inc., Class – A | 99 | ||||||
89 | Nn, Inc. | 2 | ||||||
15 | Omega Flex, Inc. | 1 | ||||||
2,550 | Pall Corp. | 258 | ||||||
728 | Proto Labs, Inc. (a) | 49 | ||||||
128 | RBC Bearings, Inc. | 8 | ||||||
426 | Rexnord Corp. (a) | 12 | ||||||
4,725 | Snap-on, Inc. | 645 | ||||||
55 | Standex International Corp. | 4 | ||||||
126 | Sun Hydraulics Corp. | 5 | ||||||
104 | Tennant Co. | 8 | ||||||
4,760 | Terex Corp. | 133 | ||||||
54 | The ExOne Co.ˆ (a) | 1 | ||||||
114 | The Gorman-Rupp Co. | 4 | ||||||
186 | The Greenbrier Cos., Inc.ˆ | 10 | ||||||
35 | The Timken Co. | 1 | ||||||
2,651 | TriMas Corp. (a) | 83 | ||||||
27 | Twin Disc, Inc. | 1 | ||||||
23,219 | Wabash National Corp. (a) | 287 | ||||||
2,155 | WABCO Holdings, Inc. (a) | 226 | ||||||
3 | Watts Water Technologies, Inc. | — | ||||||
251 | Woodward, Inc. | 12 | ||||||
51 | Xerium Technologies, Inc. (a) | 1 | ||||||
3,808 | ||||||||
Marine — 0.24% | ||||||||
1,361 | Kirby Corp. (a) | 110 | ||||||
89 | Matson, Inc. | 3 | ||||||
39,955 | Navios Maritime Holdings, Inc. | 164 | ||||||
277 | ||||||||
Media — 0.85% | ||||||||
40 | AMC Entertainment Holdings, Inc., Class – A | 1 | ||||||
126 | Carmike Cinemas, Inc. (a) | 3 | ||||||
57 | Crown Media Holdings, Inc., Class – A (a) | — | ||||||
586 | Cumulus Media, Inc., Class – A (a) | 2 | ||||||
90 | Entercom Communications Corp. (a) | 1 | ||||||
293 | Entravision Communications Corp., Class – A | 2 | ||||||
51 | Eros International PLC (a) | 1 | ||||||
291 | Gray Television, Inc. (a) | 3 | ||||||
32,136 | Harte-Hanks, Inc. | 250 | ||||||
6,390 | Imax Corp. (a) | 197 |
Shares | Security Description | Value (000) | ||||||
Media (continued) | ||||||||
100 | Journal Communications, Inc., Class – A (a) | $ | 1 | |||||
9,460 | Lions Gate Entertainment Corp. | 304 | ||||||
74 | Loral Space & Communications, Inc. (a) | 6 | ||||||
187 | Martha Stewart Living Omnimedia, Inc. (a) | 1 | ||||||
61 | MDC Partners, Inc. | 1 | ||||||
64 | National CineMedia, Inc. | 1 | ||||||
173 | Nexstar Broadcasting Group, Inc., Class – A | 9 | ||||||
180 | Radio One, Inc., Class – D (a) | — | ||||||
47 | ReachLocal, Inc. (a) | — | ||||||
2,340 | Rentrak Corp. (a) | 170 | ||||||
5 | Saga Communications, Inc. | — | ||||||
129 | Salem Communications Corp., Class – A | 1 | ||||||
26 | Scholastic Corp. | 1 | ||||||
389 | Sinclair Broadcast Group, Inc. | 11 | ||||||
40 | Time, Inc. | 1 | ||||||
124 | Townsquare Media, Inc., Class – A (a) | 2 | ||||||
163 | World Wrestling Entertainment, Inc., Class – A | 2 | ||||||
971 | ||||||||
Metals & Mining — 0.99% | ||||||||
6,780 | Agnico-Eagle Mines Ltd. | 169 | ||||||
7,330 | Allegheny Technologies, Inc. | 255 | ||||||
3,382 | Carpenter Technology Corp. | 167 | ||||||
180 | Coeur d’Alene Mines Corp. (a) | 1 | ||||||
100 | Commercial Metals Co. | 2 | ||||||
15,651 | Globe Specialty Metals, Inc. | 269 | ||||||
169 | Gold Resource Corp. | 1 | ||||||
4,354 | Horsehead Holding Corp. (a) | 69 | ||||||
25 | Kaiser Aluminum Corp. | 2 | ||||||
49 | Materion Corp. | 2 | ||||||
109 | Olympic Steel, Inc. | 2 | ||||||
14 | RTI International Metals, Inc. (a) | — | ||||||
3,600 | Schnitzer Steel Industries, Inc., Class – A | 81 | ||||||
635 | Stillwater Mining Co. (a) | 9 | ||||||
274 | SunCoke Energy, Inc. | 5 | ||||||
60 | United States Steel Corp. | 2 | ||||||
3,162 | US Silica Holdings, Inc. | 81 | ||||||
138 | Walter Energy, Inc.ˆ | — | ||||||
291 | Worthington Industries, Inc. | 9 | ||||||
1,126 | ||||||||
Multiline Retail — 0.01% | ||||||||
39 | Big Lots, Inc. | 2 | ||||||
145 | Burlington Stores, Inc. (a) | 7 | ||||||
11 | Dillard’s, Inc., Class – A | 1 | ||||||
196 | Tuesday Morning Corp. (a) | 4 | ||||||
14 | ||||||||
Multi-Utilities — 0.39% | ||||||||
80 | Avista Corp. | 3 | ||||||
8,272 | Black Hills Corp. | 439 | ||||||
442 | ||||||||
Oil, Gas & Consumable Fuels — 2.24% | ||||||||
537 | Abraxas Petroleum Corp. (a) | 2 | ||||||
23 | Adams Resources & Energy, Inc. | 1 | ||||||
14 | Alon USA Energy, Inc. | — | ||||||
17 | Apco Oil & Gas International, Inc. (a) | — | ||||||
92 | Approach Resources, Inc. (a) | 1 | ||||||
19,210 | Bill Barrett Corp. (a) | 219 |
See accompanying notes to financial statements.
38
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
183 | Bonanza Creek Energy, Inc. (a) | $ | 4 | |||||
491 | BPZ Resources, Inc. (a) | — | ||||||
5,712 | Cabot Oil & Gas Corp. | 169 | ||||||
18,038 | Carrizo Oil & Gas, Inc. (a) | 751 | ||||||
35 | Clayton Williams Energy, Inc. (a) | 2 | ||||||
241 | Clean Energy Fuels Corp. (a) | 1 | ||||||
2,330 | CONSOL Energy, Inc. | 79 | ||||||
9,200 | Contango Oil & Gas Co. (a) | 269 | ||||||
4,952 | Continental Resources, Inc. (a) | 190 | ||||||
212 | Delek US Holdings, Inc. | 6 | ||||||
160 | Denbury Resources, Inc. | 1 | ||||||
238 | Diamondback Energy, Inc. (a) | 14 | ||||||
113 | Eclipse Resources Corp. (a) | 1 | ||||||
36,300 | Emerald Oil, Inc.ˆ (a) | 44 | ||||||
136,440 | Enbridge Energy Management LLC (a)(c) | — | ||||||
94 | Evolution Petroleum Corp. | 1 | ||||||
342 | EXCO Resources, Inc. | 1 | ||||||
241 | FX Energy, Inc. (a) | — | ||||||
46 | GasLog Ltd. | 1 | ||||||
345 | Gastar Exploration, Inc. (a) | 1 | ||||||
201 | Goodrich Petroleum Corp.ˆ (a) | 1 | ||||||
220 | Green Plains Renewable Energy, Inc. | 5 | ||||||
5,088 | Interoil Corp.ˆ (a) | 248 | ||||||
3 | Isramco, Inc. (a) | — | ||||||
178 | Jones Energy, Inc., Class – A (a) | 2 | ||||||
1,032 | Magnum Hunter Resources Corp. (a) | 3 | ||||||
222 | Matador Resources Co. (a) | 4 | ||||||
24 | Pacific Ethanol, Inc. (a) | — | ||||||
75 | Panhandle Oil & Gas, Inc., Class – A | 2 | ||||||
300 | Parsley Energy, Inc., Class – A (a) | 5 | ||||||
41 | PBF Energy, Inc. | 1 | ||||||
4 | PDC Energy, Inc. (a) | — | ||||||
269 | PetroQuest Energy, Inc. (a) | 1 | ||||||
13 | Quicksilver Resources, Inc. (a) | — | ||||||
131,930 | Rentech, Inc. (a) | 166 | ||||||
29 | REX American Resources Corp. (a) | 2 | ||||||
5,085 | Rex Energy Corp. (a) | 26 | ||||||
106 | Ring Energy, Inc. (a) | 1 | ||||||
47 | Rosetta Resources, Inc. (a) | 1 | ||||||
37 | RSP Permian, Inc. (a) | 1 | ||||||
185 | Sanchez Energy Corp. (a) | 2 | ||||||
18,263 | SandRidge Energy, Inc.ˆ (a) | 33 | ||||||
242 | Semgroup Corp. | 17 | ||||||
30 | SM Energy Co. | 1 | ||||||
386 | Solazyme, Inc. (a) | 1 | ||||||
10,350 | Synergy Resources Corp. (a) | 130 | ||||||
106 | TransAtlantic Petroleum Ltd. (a) | 1 | ||||||
241 | Triangle Petroleum Corp. (a) | 1 | ||||||
109 | Vertex Energy, Inc. (a) | — | ||||||
88 | W&T Offshore, Inc. | 1 | ||||||
333 | Western Refining, Inc. | 13 | ||||||
11,722 | WPX Energy, Inc. (a) | 136 | ||||||
2,563 | ||||||||
Paper & Forest Products — 0.54% | ||||||||
5,717 | Boise Cascade Co. (a) | 212 | ||||||
115 | Clearwater Paper Corp. (a) | 8 |
Shares | Security Description | Value (000) | ||||||
Paper & Forest Products (continued) | ||||||||
62 | Deltic Timber Corp. | $ | 4 | |||||
40 | Domtar Corp. | 2 | ||||||
480 | KapStone Paper & Packaging Corp. | 14 | ||||||
22,000 | Louisiana-Pacific Corp. (a) | 364 | ||||||
51 | Neenah Paper, Inc. | 3 | ||||||
157 | P.H. Glatfelter Co. | 4 | ||||||
61 | Schweitzer-Mauduit International, Inc. | 3 | ||||||
228 | Wausau Paper Corp. | 3 | ||||||
617 | ||||||||
Personal Products — 0.01% | ||||||||
183 | IGI Laboratories, Inc. (a) | 2 | ||||||
5 | Inter Parfums, Inc. | — | ||||||
73 | Medifast, Inc. (a) | 2 | ||||||
20 | Nature’s Sunshine Products, Inc. | — | ||||||
30 | Nutraceutical International Corp. (a) | 1 | ||||||
17 | Revlon, Inc., Class – A (a) | 1 | ||||||
118 | Synutra International, Inc. (a) | 1 | ||||||
135 | The Female Health Co. | 1 | ||||||
34 | USANA Health Sciences, Inc. (a) | 2 | ||||||
10 | ||||||||
Pharmaceuticals — 0.40% | ||||||||
133 | AcelRx Pharmaceuticals, Inc. (a) | 1 | ||||||
4 | Achaogen, Inc. (a) | — | ||||||
60 | Aerie Pharmaceuticals, Inc. (a) | 2 | ||||||
354 | Akorn, Inc. (a) | 13 | ||||||
117 | Alimera Sciences, Inc. (a) | 1 | ||||||
68 | Amphastar Pharmaceuticals, Inc. (a) | 1 | ||||||
313 | Ampio Pharmaceuticals, Inc. (a) | 1 | ||||||
41 | ANI Pharmaceuticals, Inc. (a) | 2 | ||||||
166 | Aratana Therapeutics, Inc. (a) | 3 | ||||||
285 | Auxilium Pharmaceuticals, Inc. (a) | 10 | ||||||
1,095 | AVANIR Pharmaceuticals, Inc., Class – A (a) | 19 | ||||||
7,138 | BioDelivery Sciences International, Inc. (a) | 85 | ||||||
399 | Bio-Path Holdings, Inc. (a) | 1 | ||||||
249 | Catalent, Inc. (a) | 7 | ||||||
130 | Cempra Holdings LLC (a) | 3 | ||||||
288 | Corcept Therapeutics, Inc. (a) | 1 | ||||||
324 | DepoMed, Inc. (a) | 5 | ||||||
41 | Dermira, Inc. (a) | 1 | ||||||
57 | Egalet Corp. (a) | — | ||||||
191 | Endocyte, Inc. (a) | 1 | ||||||
367 | Horizon Pharma PLC (a) | 5 | ||||||
152 | Impax Laboratories, Inc. (a) | 5 | ||||||
1,268 | Intersect ENT, Inc. (a) | 24 | ||||||
96 | Intra-Cellular Therapies, Inc. (a) | 2 | ||||||
146 | Lannett Co., Inc. (a) | 6 | ||||||
406 | Nektar Therapeutics (a) | 6 | ||||||
191 | Omeros Corp.ˆ (a) | 5 | ||||||
200 | Omthera Pharmaceutical, Inc.* (a) | — | ||||||
1,227 | Pacira Pharmaceuticals, Inc. (a) | 108 | ||||||
192 | Pain Therapeutics, Inc. (a) | — | ||||||
182 | Pernix Therapeutics Holdings, Inc. (a) | 2 | ||||||
156 | Phibro Animal Health Corp., Class – A | 5 | ||||||
10,441 | POZEN, Inc. (a) | 84 | ||||||
357 | Prestige Brands Holdings, Inc. (a) | 12 | ||||||
102 | Relypsa, Inc. (a) | 3 | ||||||
116 | Repros Therapeutics, Inc. (a) | 1 |
See accompanying notes to financial statements.
39
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Pharmaceuticals (continued) | ||||||||
46 | Revance Therapeutics, Inc. (a) | $ | 1 | |||||
184 | Sagent Pharmaceuticals, Inc. (a) | 5 | ||||||
450 | SciClone Pharmaceuticals, Inc. (a) | 4 | ||||||
253 | Sucampo Pharmaceuticals, Inc., Class – A (a) | 4 | ||||||
154 | Supernus Pharmaceuticals, Inc. (a) | 1 | ||||||
423 | The Medicines Co. (a) | 12 | ||||||
648 | TherapeuticsMD, Inc. (a) | 3 | ||||||
129 | Theravance Biopharma, Inc. (a) | 2 | ||||||
477 | VIVUS, Inc. (a) | 1 | ||||||
45 | XenoPort, Inc. (a) | — | ||||||
559 | Zogenix, Inc. (a) | 1 | ||||||
31 | ZS Pharma, Inc. (a) | 1 | ||||||
460 | ||||||||
Professional Services — 1.05% | ||||||||
34 | Barrett Business Services, Inc. | 1 | ||||||
130 | CBIZ, Inc. (a) | 1 | ||||||
254 | Corporate Resource Services, Inc. (a) | — | ||||||
74 | Exponent, Inc. | 6 | ||||||
32 | Franklin Covey Co. (a) | 1 | ||||||
52 | GP Strategies Corp. (a) | 2 | ||||||
165 | Hill International, Inc. (a) | 1 | ||||||
11 | Huron Consulting Group, Inc. (a) | 1 | ||||||
141 | Information Services Group, Inc. (a) | 1 | ||||||
126 | Insperity, Inc. | 4 | ||||||
78 | Kelly Services, Inc., Class – A | 1 | ||||||
149 | Kforce, Inc. | 4 | ||||||
155 | Korn/Ferry International (a) | 4 | ||||||
93 | Mistras Group, Inc. (a) | 2 | ||||||
307 | On Assignment, Inc. (a) | 10 | ||||||
4,144 | Paylocity Holding Corp. (a) | 108 | ||||||
165,900 | Pendrell Corp. (a) | 229 | ||||||
20 | RPX Corp. (a) | — | ||||||
208 | The Advisory Board Co. (a) | 10 | ||||||
192 | The Corporate Executive Board Co. | 14 | ||||||
22 | TriNet Group, Inc. (a) | 1 | ||||||
231 | TrueBlue, Inc. (a) | 5 | ||||||
29 | VSE Corp. | 2 | ||||||
12,319 | WageWorks, Inc. (a) | 795 | ||||||
1,203 | ||||||||
Real Estate Investment Trusts — 2.09% | ||||||||
132 | AG Mortgage Investment Trust, Inc. | 2 | ||||||
11 | Alexander’s, Inc. | 5 | ||||||
5,301 | Alexandria Real Estate Equities, Inc. | 469 | ||||||
45 | American Assets Trust, Inc. | 2 | ||||||
127 | American Capital Mortgage Investment Corp. | 2 | ||||||
480 | Anworth Mortgage Asset Corp. | 3 | ||||||
159 | Apollo Residential Mortgage, Inc. | 3 | ||||||
9,400 | Ares Commercial Real Estate Corp. | 108 | ||||||
694 | Armour Residential REIT, Inc. | 3 | ||||||
250 | Ashford Hospitality Trust | 3 | ||||||
8,400 | AV Homes, Inc. (a) | 122 | ||||||
12 | Aviv REIT, Inc. | — | ||||||
204 | Capstead Mortgage Corp. | 3 | ||||||
121 | CareTrust REIT, Inc. | 1 | ||||||
136 | CBL & Associates Properties, Inc. | 3 |
Shares | Security Description | Value (000) | ||||||
Real Estate Investment Trusts (continued) | ||||||||
376 | Cedar Realty Trust, Inc. | $ | 3 | |||||
186 | Coresite Realty Corp. | 7 | ||||||
6,013 | Corporate Office Properties Trust | 171 | ||||||
100 | CyrusOne, Inc. | 3 | ||||||
277 | CYS Investments, Inc. | 2 | ||||||
3,859 | DiamondRock Hospitality Co. | 57 | ||||||
123 | DuPont Fabros Technology, Inc. | 4 | ||||||
303 | Dynex Capital, Inc. | 2 | ||||||
4,942 | EastGroup Properties, Inc. | 313 | ||||||
519 | Empire State Realty Trust, Inc., Class – A | 9 | ||||||
24 | Forestar Group, Inc. (a) | — | ||||||
698 | Glimcher Realty Trust | 10 | ||||||
137 | Hatteras Financial Corp. | 3 | ||||||
164 | Invesco Mortgage Capital | 3 | ||||||
25 | Kennedy-Wilson Holdings, Inc. | 1 | ||||||
235 | Lexington Realty Trust | 3 | ||||||
4,471 | Mid-America Apartment Communities, Inc. | 333 | ||||||
214 | National Health Investors, Inc. | 15 | ||||||
120 | Pennsylvania Real Estate Investment Trust | 3 | ||||||
4,725 | Potlatch Corp. | 198 | ||||||
96 | PS Business Parks, Inc. | 8 | ||||||
72 | QTS Realty Trust, Inc., Class – L | 2 | ||||||
346 | Rait Financial Trust | 3 | ||||||
179 | RE/MAX Holdings, Inc., Class – A | 6 | ||||||
19,450 | Redwood Trust, Inc. | 382 | ||||||
126 | Ryman Hospitality Properties, Inc. | 7 | ||||||
288 | Sabra Healthcare REIT, Inc. | 9 | ||||||
51 | Saul Centers, Inc. | 3 | ||||||
162 | Sovran Self Storage, Inc. | 14 | ||||||
4,735 | Strategic Hotels & Resorts, Inc. (a) | 63 | ||||||
272 | Sun Communities, Inc. | 16 | ||||||
13 | Tejon Ranch Co. (a) | — | ||||||
33 | UMH Properties, Inc. | — | ||||||
74 | Universal Health Realty Income Trust | 4 | ||||||
92 | Urstadt Biddle Properties, Inc., Class – A | 2 | ||||||
176 | Western Asset Mortgage Capital Corp. | 3 | ||||||
2,391 | ||||||||
Real Estate Management & Development — 0.01% | ||||||||
7 | Altisource Asset Management Corp. (a) | 2 | ||||||
81 | Altisource Portfolio Solutions SA (a) | 2 | ||||||
6 | Consolidated-Tomoka Land Co. | — | ||||||
472 | St. Joe Corp. (a) | 9 | ||||||
13 | ||||||||
Road & Rail — 0.23% | ||||||||
7 | AMERCO, Inc. | 2 | ||||||
135 | ArcBest Corp. | 6 | ||||||
19 | Celadon Group, Inc. | — | ||||||
1,753 | Con-way, Inc. | 86 | ||||||
317 | Heartland Express, Inc. | 9 | ||||||
961 | Kansas City Southern Industries | 118 | ||||||
338 | Knight Transportation, Inc. | 11 | ||||||
57 | Marten Transport Ltd. | 1 | ||||||
9 | P.A.M. Transportation Services, Inc. (a) | — | ||||||
55 | Quality Distribution, Inc. (a) | 1 | ||||||
51 | Roadrunner Transportation Systems, Inc. (a) | 1 | ||||||
135 | Saia, Inc. (a) | 7 | ||||||
482 | Swift Transportation Co. (a) | 14 |
See accompanying notes to financial statements.
40
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Road & Rail (continued) | ||||||||
22 | Universal Truckload Services, Inc. | $ | 1 | |||||
55 | Werner Enterprises, Inc. | 2 | ||||||
23 | YRC Worldwide, Inc. (a) | 1 | ||||||
260 | ||||||||
Semiconductors & Semiconductor Equipment — 7.82% | ||||||||
209 | Advanced Energy Industries, Inc. (a) | 5 | ||||||
220 | Alpha & Omega Semiconductor Ltd. (a) | 2 | ||||||
3,895 | Altera Corp. | 144 | ||||||
159 | Ambarella, Inc. (a) | 8 | ||||||
572 | Amkor Technology, Inc. (a) | 4 | ||||||
456 | Applied Micro Circuits Corp. (a) | 3 | ||||||
17,800 | Atmel Corp. (a) | 149 | ||||||
12,336 | Brooks Automation, Inc. | 157 | ||||||
114 | Cabot Microelectronics Corp. (a) | 5 | ||||||
3,235 | Canadian Solar, Inc. (a) | 78 | ||||||
9,530 | Cavium, Inc. (a) | 589 | ||||||
215 | Cirrus Logic, Inc. (a) | 5 | ||||||
47,230 | Cypress Semiconductor Corp.ˆ | 674 | ||||||
5,573 | Diodes, Inc. (a) | 154 | ||||||
581 | Entegris, Inc. (a) | 8 | ||||||
38 | Exar Corp. (a) | — | ||||||
13,341 | Fairchild Semiconductor International, Inc. (a) | 225 | ||||||
183 | Inphi Corp. (a) | 3 | ||||||
10,516 | Integrated Device Technology, Inc. (a) | 206 | ||||||
127 | Integrated Silicon Solution, Inc. | 2 | ||||||
5,356 | International Rectifier Corp. (a) | 214 | ||||||
148 | IXYS Corp. | 2 | ||||||
655 | Lattice Semiconductor Corp. (a) | 5 | ||||||
72 | MA-COM Technology Solutions Holdings, Inc. (a) | 2 | ||||||
6,576 | Maxim Integrated Products, Inc. | 210 | ||||||
138 | MaxLinear, Inc. (a) | 1 | ||||||
3,928 | Mellanox Technologies Ltd. (a) | 168 | ||||||
270 | Micrel, Inc. | 4 | ||||||
1,554 | Microsemi Corp. (a) | 44 | ||||||
13,189 | Monolithic Power Systems, Inc. | 656 | ||||||
64 | Nanometrics, Inc. (a) | 1 | ||||||
8 | NVE Corp. (a) | 1 | ||||||
72 | OmniVision Technologies, Inc. (a) | 2 | ||||||
35,505 | ON Semiconductor Corp. (a) | 360 | ||||||
177 | PDF Solutions, Inc. (a) | 3 | ||||||
237 | Photronics, Inc. (a) | 2 | ||||||
327 | PMC – Sierra, Inc. (a) | 3 | ||||||
7,292 | Power Integrations, Inc. | 377 | ||||||
53,080 | QuickLogic Corp.ˆ (a) | 167 | ||||||
644 | Rambus, Inc. (a) | 7 | ||||||
1,627 | RF Micro Devices, Inc. (a) | 27 | ||||||
28,132 | Rubicon Technology, Inc. (a) | 129 | ||||||
19 | Rudolph Technologies, Inc. (a) | — | ||||||
3,781 | Semtech Corp. (a) | 104 | ||||||
22,000 | Sigma Designs, Inc. (a) | 163 | ||||||
223 | Silicon Image, Inc. (a) | 1 | ||||||
2,076 | Silicon Laboratories, Inc. (a) | 99 | ||||||
10,338 | Skyworks Solutions, Inc. | 752 |
Shares | Security Description | Value (000) | ||||||
Semiconductors & Semiconductor Equipment (continued) | ||||||||
35,669 | Spansion, Inc., Class – A (a) | $ | 1,221 | |||||
9,700 | SunEdison, Inc. (a) | 189 | ||||||
3,634 | Synaptics, Inc. (a) | 250 | ||||||
103 | Teradyne, Inc. | 2 | ||||||
9,267 | Tessera Technologies, Inc. | 331 | ||||||
26,064 | TriQuint Semiconductor, Inc. (a) | 718 | ||||||
296 | Ultra Clean Holdings, Inc. (a) | 3 | ||||||
15,540 | Ultratech, Inc. (a) | 288 | ||||||
330 | Vitesse Semiconductor Corp. (a) | 1 | ||||||
115 | Xcerra Corp. (a) | 1 | ||||||
8,929 | ||||||||
Software — 5.22% | ||||||||
113 | A10 Networks, Inc. (a) | — | ||||||
646 | ACI Worldwide, Inc. (a) | 13 | ||||||
4,311 | Advent Software, Inc. | 132 | ||||||
125 | American Software, Inc., Class – A | 1 | ||||||
10,344 | Aspen Technology, Inc. (a) | 362 | ||||||
211 | AVG Technologies NV (a) | 4 | ||||||
42 | Barracuda Networks, Inc. (a) | 2 | ||||||
262 | Blackbaud, Inc. | 11 | ||||||
186 | Bottomline Technologies, Inc. (a) | 5 | ||||||
160 | BroadSoft, Inc. (a) | 5 | ||||||
279 | Callidus Software, Inc. (a) | 5 | ||||||
251 | Cinedigm Corp., Class – A (a) | — | ||||||
268 | CommVault Systems, Inc. (a) | 14 | ||||||
132 | Comverse, Inc. (a) | 2 | ||||||
54 | Covisint Corp. (a) | — | ||||||
263 | Cyan, Inc. (a) | 1 | ||||||
6,640 | CyberArk Software Ltd. (a) | 264 | ||||||
31 | Digimarc Corp. | 1 | ||||||
121 | Ebix, Inc. | 2 | ||||||
6,430 | Electronic Arts, Inc. (a) | 302 | ||||||
3,259 | Ellie Mae, Inc. (a) | 131 | ||||||
99 | EPIQ Systems, Inc. | 2 | ||||||
27 | ePlus, Inc. (a) | 2 | ||||||
207 | Fair Isaac Corp. | 15 | ||||||
7,612 | Fleetmatics Group Ltd. (a) | 270 | ||||||
7,700 | Fortinet, Inc. (a) | 236 | ||||||
140 | Gigamon, Inc. (a) | 2 | ||||||
39 | Globant SA (a) | 1 | ||||||
439 | Glu Mobile, Inc. (a) | 2 | ||||||
94 | Guidance Software, Inc. (a) | 1 | ||||||
6,515 | Guidewire Software, Inc. (a) | 330 | ||||||
14 | HubSpot, Inc. (a) | — | ||||||
125 | Imperva, Inc. (a) | 6 | ||||||
262 | Infoblox, Inc. (a) | 5 | ||||||
94 | Interactive Intelligence Group (a) | 5 | ||||||
239 | Jive Software, Inc. (a) | 1 | ||||||
448 | Kofax Ltd. (a) | 3 | ||||||
8,941 | Manhattan Associates, Inc. (a) | 364 | ||||||
44 | Mavenir Systems, Inc. (a) | 1 | ||||||
73 | Mentor Graphics Corp. | 2 | ||||||
52 | MicroStrategy, Inc. (a) | 8 | ||||||
72 | MobileIron, Inc. (a) | 1 | ||||||
60 | Model N, Inc. (a) | 1 | ||||||
223 | Monotype Imaging Holdings, Inc. | 6 |
See accompanying notes to financial statements.
41
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Software (continued) | ||||||||
207 | NetScout Systems, Inc. (a) | $ | 8 | |||||
3,780 | NetSuite, Inc. (a) | 413 | ||||||
48 | Park City Group, Inc. (a) | — | ||||||
215 | Pegasystems, Inc. | 4 | ||||||
7,870 | Proofpoint, Inc. (a) | 380 | ||||||
142 | PROS Holdings, Inc. (a) | 4 | ||||||
15,491 | PTC, Inc. (a) | 568 | ||||||
27 | QAD, Inc., Class – A | 1 | ||||||
509 | QLIK Technologies, Inc. (a) | 16 | ||||||
7,814 | Qualys, Inc. (a) | 295 | ||||||
129 | Rally Software Development Corp. (a) | 1 | ||||||
293 | RealPage, Inc. (a) | 6 | ||||||
19,000 | Rosetta Stone, Inc. (a) | 185 | ||||||
16,521 | Rovi Corp. (a) | 373 | ||||||
46 | Sapiens International Corp. NV (a) | — | ||||||
10,100 | SeaChange International, Inc. (a) | 64 | ||||||
13,287 | Silver Spring Networks, Inc. (a) | 112 | ||||||
387 | SS&C Technologies Holdings, Inc. | 23 | ||||||
200 | Synchronoss Technologies, Inc. (a) | 8 | ||||||
92 | Take-Two Interactive Software, Inc. (a) | 3 | ||||||
11,028 | Tangoe, Inc. (a) | 144 | ||||||
466 | Telecommunication Systems, Inc. (a) | 1 | ||||||
14,900 | Telenav, Inc. (a) | 99 | ||||||
59 | The Rubicon Project, Inc. (a) | 1 | ||||||
2,012 | The Ultimate Software Group, Inc. (a) | 295 | ||||||
15,332 | TiVo, Inc. (a) | 182 | ||||||
188 | Tyler Technologies, Inc. (a) | 21 | ||||||
27 | Varonis Systems, Inc. (a) | 1 | ||||||
166 | VASCO Data Security International, Inc. (a) | 5 | ||||||
321 | Verint Systems, Inc. (a) | 19 | ||||||
217 | VirnetX Holding Corp. (a) | 1 | ||||||
470 | Vringo, Inc. (a) | — | ||||||
62 | Zendesk, Inc. (a) | 2 | ||||||
77,000 | Zynga, Inc. (a) | 205 | ||||||
5,961 | ||||||||
Specialty Retail — 2.12% | ||||||||
52 | Abercrombie & Fitch Co., Class – A | 1 | ||||||
1 | America’s Car-Mart, Inc. (a) | — | ||||||
266 | Ann, Inc. (a) | 10 | ||||||
174 | Asbury Automotive Group, Inc. (a) | 13 | ||||||
110 | Ascena Retail Group, Inc. (a) | 1 | ||||||
103 | Big 5 Sporting Goods Corp. | 2 | ||||||
128 | Brown Shoe Co., Inc. | 4 | ||||||
41 | Build-A-Bear Workshop, Inc. (a) | 1 | ||||||
4,526 | Cabela’s, Inc., Class – A (a) | 240 | ||||||
6,548 | Chico’s FAS, Inc. | 106 | ||||||
191 | Christopher & Banks Corp. (a) | 1 | ||||||
168 | Conn’s, Inc. (a) | 3 | ||||||
65 | Destination Maternity Corp. | 1 | ||||||
26 | Express, Inc. (a) | — | ||||||
1,343 | Five Below, Inc. (a) | 55 | ||||||
249 | Francesca’s Holdings Corp. (a) | 4 | ||||||
40 | GameStop Corp., Class – A | 1 | ||||||
7 | Genesco, Inc. (a) | 1 | ||||||
42 | Group 1 Automotive, Inc. | 4 | ||||||
55 | Haverty Furniture Cos., Inc. | 1 |
Shares | Security Description | Value (000) | ||||||
Specialty Retail (continued) | ||||||||
147 | Hibbett Sports, Inc. (a) | $ | 7 | |||||
47 | Kirkland’s, Inc. (a) | 1 | ||||||
129 | Lithia Motors, Inc. | 11 | ||||||
155 | Lumber Liquidators Holdings, Inc. (a) | 10 | ||||||
7,200 | MarineMax, Inc. (a) | 144 | ||||||
84 | Mattress Firm Holding Corp. (a) | 5 | ||||||
179 | Monro Muffler Brake, Inc. | 10 | ||||||
892 | Murphy USA, Inc. (a) | 61 | ||||||
157 | New York & Co., Inc. (a) | — | ||||||
123 | Outerwall, Inc. (a) | 9 | ||||||
249 | Pacific Sunwear of California, Inc. (a) | 1 | ||||||
536 | Pier 1 Imports, Inc. | 8 | ||||||
4,406 | Rent-A-Center, Inc. | 161 | ||||||
6,514 | Restoration Hardware Holdings, Inc. (a) | 626 | ||||||
10,597 | Select Comfort Corp. (a) | 287 | ||||||
49 | Sonic Automotive, Inc., Class – A | 1 | ||||||
52 | Sportsman’s Warehouse Holdings, Inc. (a) | — | ||||||
97 | Stein Mart, Inc. | 1 | ||||||
160 | The Buckle, Inc. | 8 | ||||||
53 | The Cato Corp. | 2 | ||||||
104 | The Container Store Group, Inc. (a) | 2 | ||||||
72 | The Finish Line, Inc., Class – A | 2 | ||||||
158 | The Tile Shop Holdings, Inc. (a) | 1 | ||||||
150 | Tilly’s, Inc., Class – A (a) | 1 | ||||||
7,711 | Tractor Supply Co. | 609 | ||||||
94 | Vitamin Shoppe, Inc. (a) | 5 | ||||||
11 | Winmark Corp. | 1 | ||||||
100 | Zumiez, Inc. (a) | 4 | ||||||
2,427 | ||||||||
Technology Hardware, Storage & Peripherals — 0.76% | ||||||||
5,951 | Cray, Inc. (a) | 205 | ||||||
318 | Dot Hill Systems Corp. (a) | 1 | ||||||
264 | Electronics for Imaging, Inc. (a) | 11 | ||||||
45,700 | Imation Corp. (a) | 173 | ||||||
147 | Immersion Corp. (a) | 1 | ||||||
42 | Lexmark International, Inc., Class – A | 2 | ||||||
55 | Nimble Storage, Inc. (a) | 2 | ||||||
16,800 | QLogic Corp. (a) | 224 | ||||||
187 | Silicon Graphics International Corp. (a) | 2 | ||||||
7,041 | Super Micro Computer, Inc. (a) | 246 | ||||||
867 | ||||||||
Textiles, Apparel & Luxury Goods — 2.31% | ||||||||
105 | Columbia Sportswear Co. | 5 | ||||||
26 | Crocs, Inc. (a) | — | ||||||
85 | Culp, Inc. | 2 | ||||||
7,496 | Deckers Outdoor Corp. (a) | 682 | ||||||
7,777 | G-III Apparel Group Ltd. (a) | 786 | ||||||
101 | Iconix Brand Group, Inc. (a) | 3 | ||||||
106 | Movado Group, Inc. | 3 | ||||||
81 | Oxford Industries, Inc. | 4 | ||||||
394 | Quiksilver, Inc. (a) | 1 | ||||||
55 | Sequential Brands Group, Inc. (a) | 1 | ||||||
164 | Skechers USA, Inc., Class – A (a) | 9 | ||||||
330 | Steven Madden Ltd. (a) | 11 | ||||||
287 | Tumi Holdings, Inc. (a) | 7 | ||||||
8,524 | Under Armour, Inc., Class – A (a) | 579 |
See accompanying notes to financial statements.
42
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Textiles, Apparel & Luxury Goods (continued) | ||||||||
3,652 | Vera Bradley, Inc. (a) | $ | 74 | |||||
990 | Vince Holding Corp. (a) | 26 | ||||||
15,110 | Wolverine World Wide, Inc. | 445 | ||||||
2,638 | ||||||||
Thrifts & Mortgage Finance — 0.08% | ||||||||
80 | Bofl Holding, Inc. (a) | 6 | ||||||
254 | Essent Group Ltd. (a) | 7 | ||||||
60 | Federal Agricultural Mortgage Corp., Class – C | 2 | ||||||
40 | First Defiance Financial Corp. | 1 | ||||||
70 | Home Loan Servicing Solutions Ltd. | 1 | ||||||
79 | HomeStreet, Inc. | 1 | ||||||
4 | Kearny Financial Corp. (a) | — | ||||||
120 | Meridian Bancorp, Inc. (a) | 1 | ||||||
40 | Meta Financial Group, Inc. | 1 | ||||||
796 | MGIC Investment Corp. (a) | 7 | ||||||
36 | PennyMac Financial Services, Inc. (a) | 1 | ||||||
233 | Radian Group, Inc. | 4 | ||||||
29 | Stonegate Mortgage Corp. (a) | — | ||||||
18 | Tree.com, Inc. (a) | 1 | ||||||
37 | United Financial Bancorp, Inc. | 1 | ||||||
92 | Walker & Dunlop, Inc. (a) | 2 | ||||||
718 | WSFS Financial Corp. | 56 | ||||||
92 | ||||||||
Tobacco — 0.01% | ||||||||
365 | 22nd Century Group, Inc. (a) | 1 | ||||||
38 | Universal Corp. | 2 | ||||||
263 | Vector Group Ltd. | 5 | ||||||
8 | ||||||||
Trading Companies & Distributors — 1.04% | ||||||||
35 | Aceto Corp. | 1 | ||||||
191 | Aircastle Ltd. | 4 | ||||||
7,634 | Applied Industrial Technologies, Inc. | 347 | ||||||
64 | Beacon Roofing Supply, Inc. (a) | 2 | ||||||
70 | CAI International, Inc. (a) | 2 | ||||||
72 | DXP Enterprises, Inc. (a) | 4 | ||||||
3,073 | GATX Corp. | 177 | ||||||
75 | General Finance Corp. (a) | 1 | ||||||
176 | H&E Equipment Services, Inc. | 5 | ||||||
130 | Houston Wire & Cable Co. | 2 | ||||||
86 | Kaman Corp. | 3 | ||||||
9,957 | MRC Global, Inc. (a) | 151 | ||||||
161 | Rush Enterprises, Inc., Class – A (a) | 5 | ||||||
11,082 | Stock Building Supply Holdings, Inc. (a) | 170 | ||||||
112 | TAL International Group, Inc. | 5 | ||||||
68 | Textainer Group Holdings Ltd. | 2 | ||||||
36 | Titan Machinery, Inc. (a) | 1 | ||||||
2,878 | Watsco, Inc. | 307 | ||||||
1,189 | ||||||||
Transportation Infrastructure — 0.00% | ||||||||
46 | Wesco Aircraft Holdings, Inc. (a) | 1 | ||||||
Water Utilities — 0.00% | ||||||||
15 | American States Water Co. | 1 | ||||||
17 | SJW Corp. | 1 | ||||||
39 | The York Water Co. | — | ||||||
2 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Wireless Telecommunication Services — 0.20% | ||||||||
70 | NTELOS Holding Corp. | $ | — | |||||
161 | RingCentral, Inc., Class – A (a) | 2 | ||||||
1,940 | SBA Communications Corp., Class – A (a) | 215 | ||||||
124 | Shenandoah Telecommunications Co. | 4 | ||||||
88 | Spok Holdings, Inc. | 2 | ||||||
223 | ||||||||
Total Common Stocks | 98,952 | |||||||
Contingent Rights — 0.00% | ||||||||
Biotechnology — 0.00% | ||||||||
500 | Clinical Data, Inc.* (a)(b)(c) | — | ||||||
Machinery — 0.00% | ||||||||
1,000 | Gerber Scientific, Inc.* (b)(d) | — | ||||||
Wireless Telecommunication Services — 0.00% | ||||||||
260 | Leap Wireless International, Inc.* (b)(d) | — | ||||||
Total Contingent Rights | — | |||||||
Warrant — 0.00% | ||||||||
Oil, Gas & Consumable Fuels — 0.00% | ||||||||
160 | Magnum Hunter Resources Corp. (a) | — | ||||||
Total Warrant | — | |||||||
Time Deposit — 2.06% | ||||||||
$2,354 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/15 | 2,354 | ||||||
Total Time Deposit | 2,354 | |||||||
Mutual Funds — 11.40% | ||||||||
12,990,903 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (e) | 12,991 | ||||||
36,330 | SSgA Prime Money Market Fund, 0.00% (e) | 36 | ||||||
6,731 | SSgA Treasury Money Market Fund, 0.00% (e) | 7 | ||||||
Total Mutual Funds | 13,034 | |||||||
Total Investments (cost $87,277) — 100.01% | 114,340 | |||||||
Liabilities in excess of other assets — (0.01)% | (15 | ) | ||||||
Net Assets — 100.00% | $ | 114,325 |
Amounts designated as “—” are $0 or have been rounded to $0.
* | Security was fair valued on December 31, 2014 and represents a Level 2 security. Refer to Note 2 in the Notes to Financial Statements. |
ˆ | All or part of this security was on loan as of December 31, 2014. The total value of securities on loan as of December 31, 2014, was $2,009 (amount in thousands). |
(a) | Represents non-income producing security. |
See accompanying notes to financial statements.
43
HC CAPITAL TRUST
The Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
(b) | These securities have been deemed illiquid by the Specialist Manager and represent 0.00% of the Portfolio. |
(c) | Rights entitle the Portfolio to cash based on the company’s achievement of milestones in connection with a pharmaceutical drug that was brought to market. |
(d) | Rights entitle the Portfolio to cash based on any net recoveries obtained by the company in connection with certain claims of patent infringement. |
(e) | The rate disclosed is the rate in effect on December 31, 2014. |
ADR — American Depositary Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of 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 | Ariel Investments, LLC | Cupps Capital Management, LLC | Frontier Capital Management Company, LLC | IronBridge Capital Management LP | Mellon Capital Management Corporation | Pzena Investment Management, LLC | HC Capital Solutions | Total | ||||||||||||||||||||||||
Common Stocks | — | 13.91 | % | 28.58 | % | 29.28 | % | 4.94 | % | 5.06 | % | 4.78 | % | 86.55 | % | |||||||||||||||||
Contingent Rights | — | — | — | — | — | — | — | 0.00 | % | |||||||||||||||||||||||
Warrant | — | — | — | — | — | — | — | 0.00 | % | |||||||||||||||||||||||
Time Deposit | — | — | 0.62 | % | 1.23 | % | — | 0.06 | % | 0.15 | % | 2.06 | % | |||||||||||||||||||
Mutual Funds | 4.92 | % | 0.04 | % | — | — | — | — | 6.44 | % | 11.40 | % | ||||||||||||||||||||
Other Assets (Liabilities) | — | — | -0.01 | % | -0.09 | % | 0.10 | % | 0.01 | % | -0.02 | % | -0.01 | % | ||||||||||||||||||
Total Net Assets | 4.92 | % | 13.95 | % | 29.19 | % | 30.42 | % | 5.04 | % | 5.13 | % | 11.35 | % | 100.00 | % |
See accompanying notes to financial statements.
44
HC CAPITAL TRUST
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 87.36% | ||||||||
Aerospace & Defense — 1.57% | ||||||||
153 | AAR Corp. | $ | 4 | |||||
36 | Alliant Techsystems, Inc. | 4 | ||||||
4,700 | Cubic Corp. | 247 | ||||||
10,895 | Curtiss-Wright Corp. | 769 | ||||||
180 | Ducommun, Inc. (a) | 5 | ||||||
110 | Engility Holdings, Inc. (a) | 5 | ||||||
9,635 | Esterline Technologies Corp. (a) | 1,057 | ||||||
229 | Exelis, Inc. | 4 | ||||||
70 | National Presto Industries, Inc. | 4 | ||||||
19,876 | Orbital Sciences Corp. (a) | 534 | ||||||
16,694 | TASER International, Inc. (a) | 442 | ||||||
70 | Triumph Group, Inc. | 5 | ||||||
3,080 | ||||||||
Air Freight & Logistics — 0.33% | ||||||||
540 | Air Transport Services Group, Inc. (a) | 5 | ||||||
95 | Atlas Air Worldwide Holdings, Inc. (a) | 5 | ||||||
6,478 | Hub Group, Inc., Class – A (a) | 246 | ||||||
32,180 | UTI Worldwide, Inc. (a) | 388 | ||||||
644 | ||||||||
Airlines — 2.73% | ||||||||
8,110 | American Airlines Group, Inc. | 435 | ||||||
54,400 | Controladora Vuela Compania de Aviacion SAB de CV, ADR (a) | 491 | ||||||
50 | Copa Holdings SA, Class – A | 5 | ||||||
180 | Hawaiian Holdings, Inc. (a) | 5 | ||||||
60,075 | JetBlue Airways Corp. (a) | 953 | ||||||
340 | Republic Airways Holdings, Inc. (a) | 5 | ||||||
370 | SkyWest, Inc. | 5 | ||||||
49,656 | United Continental Holdings, Inc. (a) | 3,321 | ||||||
2,930 | Virgin America, Inc. (a) | 127 | ||||||
5,347 | ||||||||
Apparel Retail — 0.00% | ||||||||
150 | Shoe Carnival, Inc. | 4 | ||||||
Auto Components — 1.49% | ||||||||
3,584 | Autoliv, Inc. | 380 | ||||||
200 | Cooper Tire & Rubber Co. | 7 | ||||||
11,450 | Dana Holding Corp. | 249 | ||||||
22,150 | Fox Factory Holding Corp. (a) | 359 | ||||||
10,205 | Gentherm, Inc. (a) | 374 | ||||||
14,100 | Modine Manufacturing Co. (a) | 192 | ||||||
330 | Remy International, Inc. | 7 | ||||||
21,898 | Stoneridge, Inc. (a) | 282 | ||||||
13,735 | Tenneco, Inc. (a) | 777 | ||||||
260 | Tower International, Inc. (a) | 7 | ||||||
2,840 | TRW Automotive Holdings Corp. (a) | 292 | ||||||
2,926 | ||||||||
Banks — 4.79% | ||||||||
120 | 1st Source, Inc. | 4 | ||||||
180 | American National Bankshares, Inc. | 4 |
Shares | Security Description | Value (000) | ||||||
Banks (continued) | ||||||||
15,250 | Associated Banc-Corp. | $ | 284 | |||||
120 | Banco Latinoamericano de Comercio Exterior SA, Class – E | 4 | ||||||
12,420 | Bank of the Ozarks, Inc. | 471 | ||||||
23,330 | BankUnited, Inc. | 676 | ||||||
17,407 | BBCN Bancorp, Inc. | 250 | ||||||
110 | Camden National Corp. | 4 | ||||||
230 | CNB Financial Corp. | 4 | ||||||
42,558 | Columbia Banking System, Inc. | 1,176 | ||||||
20,821 | Cullen/Frost Bankers, Inc. | 1,472 | ||||||
241 | Fidelity Southern Corp. | 4 | ||||||
170 | Financial Institutions, Inc. | 4 | ||||||
700 | First Bancorp (a) | 4 | ||||||
220 | First Bancorp | 4 | ||||||
260 | First Community Bancshares, Inc. | 4 | ||||||
120 | First Financial Corp. | 4 | ||||||
140 | First Interstate BancSystem, Inc. | 4 | ||||||
14,315 | First Midwest BanCorp, Inc. | 245 | ||||||
490 | First Niagara Financial Group, Inc. | 4 | ||||||
105 | Great Southern Bancorp, Inc. | 4 | ||||||
130 | Hancock Holding Co. | 4 | ||||||
160 | Heartland Financial USA, Inc. | 4 | ||||||
160 | Horizon Bancorp | 4 | ||||||
310 | Independent Bank Corp. | 4 | ||||||
170 | International Bancshares Corp. | �� | 5 | |||||
210 | MainSource Financial Group, Inc. | 4 | ||||||
230 | MidSouth Bancorp, Inc. | 4 | ||||||
23,550 | National Penn Bancshares, Inc. | 248 | ||||||
170 | NBT Bancorp, Inc. | 4 | ||||||
150 | Northrim BanCorp, Inc. | 4 | ||||||
240 | OFG Bancorp | 4 | ||||||
19,820 | PacWest Bancorp | 901 | ||||||
160 | Peoples Bancorp, Inc. | 4 | ||||||
13,892 | Popular, Inc. (a) | 473 | ||||||
23,427 | Square 1 Financial, Inc., Class – A (a) | 579 | ||||||
290 | Susquehanna Bancshares, Inc. | 4 | ||||||
9,160 | SVB Financial Group (a) | 1,063 | ||||||
9,700 | Synovus Financial Corp. | 263 | ||||||
49,065 | TCF Financial Corp. | 780 | ||||||
1,800 | Texas Capital Bancshares, Inc. (a) | 98 | ||||||
270 | TowneBank | 4 | ||||||
170 | Trustmark Corp. | 4 | ||||||
200 | Univest Corp. of Pennsylvania | 4 | ||||||
7,647 | Webster Financial Corp. | 249 | ||||||
120 | WesBanco, Inc. | 4 | ||||||
90 | Wintrust Financial Corp. | 4 | ||||||
9,353 | ||||||||
Beverages — 0.00% | ||||||||
43 | Coca-Cola Bottling Co. Consolidated | 4 | ||||||
Biotechnology — 3.32% | ||||||||
11,022 | Acadia Pharmaceuticals, Inc. (a) | 350 |
See accompanying notes to financial statements.
45
HC CAPITAL TRUST
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Biotechnology (continued) | ||||||||
140 | Acorda Therapeutics, Inc. (a) | $ | 6 | |||||
1,593 | BioMarin Pharmaceutical, Inc. (a) | 144 | ||||||
7,636 | Celladon Corp. (a) | 149 | ||||||
17,394 | Cepheid, Inc. (a) | 942 | ||||||
15,400 | Dyax Corp. (a) | 217 | ||||||
228 | Emergent BioSolutions, Inc. (a) | 6 | ||||||
53,088 | Exact Sciences Corp.ˆ (a) | 1,458 | ||||||
13,920 | Genomic Health, Inc. (a) | 445 | ||||||
9,915 | Isis Pharmaceuticals, Inc. (a) | 612 | ||||||
9,390 | Myriad Genetics, Inc.ˆ (a) | 320 | ||||||
10,245 | NPS Pharmaceuticals, Inc. (a) | 366 | ||||||
13,760 | OncoMed Pharmaceuticals, Inc.ˆ (a) | 299 | ||||||
5,080 | Ophthotech Corp. (a) | 228 | ||||||
800 | PDL BioPharma, Inc. | 6 | ||||||
5,444 | PTC Therapeutics, Inc. (a) | 282 | ||||||
6,691 | Repligen Corp. (a) | 132 | ||||||
8,700 | Sangamo BioSciences, Inc. (a) | 132 | ||||||
9,450 | Seattle Genetics, Inc. (a) | 304 | ||||||
2,355 | Ultragenyx Pharmaceutical, Inc. (a) | 103 | ||||||
6,501 | ||||||||
Building Products — 1.63% | ||||||||
5,100 | Armstrong World Industries, Inc. (a) | 261 | ||||||
14,219 | Gibraltar Industries, Inc. (a) | 231 | ||||||
15,441 | Griffon Corp. | 205 | ||||||
7,920 | Lennox International, Inc. | 754 | ||||||
7,425 | Masonite International Corp. (a) | 456 | ||||||
14,137 | NCI Building Systems, Inc. (a) | 262 | ||||||
7,100 | Trex Co., Inc. (a) | 302 | ||||||
13,843 | Universal Forest Products, Inc. | 736 | ||||||
3,207 | ||||||||
Capital Markets — 1.00% | ||||||||
110 | Arlington Asset Investment Corp. | 3 | ||||||
240 | Calamos Asset Management, Inc., Class – A | 3 | ||||||
120 | FBR & Co. (a) | 3 | ||||||
40 | GAMCO Investors, Inc., Class – A | 4 | ||||||
5,190 | LPL Financial Holdings, Inc. | 231 | ||||||
210 | Manning & Napier, Inc. | 3 | ||||||
140 | Oppenheimer Holdings, Inc., Class – A | 3 | ||||||
7,098 | Raymond James Financial, Inc. | 407 | ||||||
22,786 | Stifel Financial Corp. (a) | 1,162 | ||||||
2,903 | Waddell & Reed Financial, Inc., Class – A | 145 | ||||||
1,964 | ||||||||
Chemicals — 2.22% | ||||||||
109 | A. Schulman, Inc. | 4 | ||||||
4,972 | Albemarle Corp. | 299 | ||||||
100 | Axiall Corp. | 4 | ||||||
12,740 | Cabot Corp. | 559 | ||||||
2,250 | Celanese Corp., Series A | 135 |
Shares | Security Description | Value (000) | ||||||
Chemicals (continued) | ||||||||
108 | Chase Corp. | $ | 4 | |||||
9,600 | Flotek Industries, Inc. (a) | 180 | ||||||
5,146 | FMC Corp. | 293 | ||||||
330 | FutureFuel Corp. | 4 | ||||||
170 | Koppers Holdings, Inc. | 4 | ||||||
25,300 | Kraton Performance Polymers, Inc. (a) | 526 | ||||||
9,768 | Methanex Corp. | 448 | ||||||
2,403 | NewMarket Corp. | 971 | ||||||
176 | Olin Corp. | 4 | ||||||
15,810 | PolyOne Corp. | 600 | ||||||
111 | Stepan Co. | 4 | ||||||
12,910 | Tronox Ltd., Class – A | 308 | ||||||
4,347 | ||||||||
Commercial Services & Supplies — 0.88% | ||||||||
130 | ABM Industries, Inc. | 4 | ||||||
410 | ACCO Brands Corp. (a) | 4 | ||||||
5,079 | ARC Document Solutions, Inc. (a) | 52 | ||||||
60 | Deluxe Corp. | 4 | ||||||
300 | Ennis, Inc. | 4 | ||||||
4,275 | Herman Miller, Inc. | 126 | ||||||
8,550 | KAR Auction Services, Inc. | 296 | ||||||
430 | Kimball International, Inc., Class – B | 4 | ||||||
12,990 | Mobile Mini, Inc. | 527 | ||||||
180 | Quad Graphics, Inc. | 4 | ||||||
240 | R.R. Donnelley & Sons Co. | 4 | ||||||
3,850 | Ritchie Bros. Auctioneers, Inc. | 104 | ||||||
230 | Steelcase, Inc., Class – A | 4 | ||||||
10,650 | Tetra Tech, Inc. | 284 | ||||||
160 | The Brink’s Co. | 4 | ||||||
36 | UniFirst Corp. | 4 | ||||||
7,031 | United Stationers, Inc. | 296 | ||||||
120 | West Corp. | 4 | ||||||
1,729 | ||||||||
Communications Equipment — 0.42% | ||||||||
3,904 | ADTRAN, Inc. | 85 | ||||||
160 | BEL Fuse, Inc., Class – B | 4 | ||||||
175 | Black Box Corp. | 4 | ||||||
9,705 | Sierra Wireless, Inc.ˆ (a) | 460 | ||||||
61,951 | Sonus Networks, Inc. (a) | 247 | ||||||
140 | TESSCO Technologies, Inc. | 4 | ||||||
804 | ||||||||
Construction & Engineering — 0.68% | ||||||||
110 | Chicago Bridge & Iron Co. | 5 | ||||||
4,700 | KBR, Inc. | 80 | ||||||
26,455 | MasTec, Inc. (a) | 597 | ||||||
166 | MYR Group, Inc. (a) | 5 | ||||||
5,790 | Primoris Services Corp. | 135 | ||||||
10,145 | Quanta Services, Inc. (a) | 288 | ||||||
9,718 | Tutor Perini Corp. (a) | 234 | ||||||
1,344 |
See accompanying notes to financial statements.
46
HC CAPITAL TRUST
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Construction Materials — 1.07% | ||||||||
17,740 | CaesarStone Sdot Yam Ltd. | $ | 1,061 | |||||
8,400 | Eagle Materials, Inc. | 639 | ||||||
12,946 | Headwaters, Inc. (a) | 194 | ||||||
1,950 | Martin Marietta Materials, Inc. | 215 | ||||||
2,109 | ||||||||
Consumer Finance — 0.44% | ||||||||
130 | Enova International, Inc. (a) | 3 | ||||||
270 | EZCORP, Inc., Class – A (a) | 3 | ||||||
9,170 | Green Dot Corp., Class – A (a) | 188 | ||||||
70 | Nelnet, Inc., Class – A | 3 | ||||||
240 | Nicholas Financial, Inc. (a) | 4 | ||||||
11,395 | PRA Group, Inc. (a) | 660 | ||||||
170 | Santander Consumer USA Holdings, Inc. | 3 | ||||||
35 | World Acceptance Corp. (a) | 3 | ||||||
867 | ||||||||
Containers & Packaging — 1.25% | ||||||||
13,751 | AptarGroup, Inc. | 919 | ||||||
39,670 | Berry Plastics Group, Inc. (a) | 1,251 | ||||||
90 | Greif, Inc., Class – A | 4 | ||||||
3,607 | Packaging Corp. of America | 282 | ||||||
2,456 | ||||||||
Data Processing & Outsourced Services — 0.00% | ||||||||
8 | Alliance Data Systems Corp. (a) | 2 | ||||||
Diversified Consumer Services — 0.21% | ||||||||
9,890 | 2U, Inc. (a) | 194 | ||||||
150 | Apollo Group, Inc., Class – A (a) | 5 | ||||||
1,240 | Career Education Corp. (a) | 9 | ||||||
440 | K12, Inc. (a) | 5 | ||||||
4,160 | Matthews International Corp., Class – A | 203 | ||||||
115 | Steiner Leisure Ltd. (a) | 5 | ||||||
421 | ||||||||
Diversified Financial Services — 0.39% | ||||||||
5,635 | Interactive Brokers Group, Inc., Class – A | 164 | ||||||
11,171 | Leucadia National Corp. | 251 | ||||||
6,160 | On Deck Capital, Inc. (a) | 138 | ||||||
8,402 | PHH Corp. (a) | 201 | ||||||
754 | ||||||||
Diversified Telecommunication Services — 0.60% | ||||||||
23,590 | Cogent Communications Group, Inc. | 836 | ||||||
150 | Hawaiian Telcom Holdco, Inc. (a) | 4 | ||||||
210 | IDT Corp. | 4 | ||||||
30,838 | Premiere Global Services, Inc. (a) | 327 | ||||||
1,171 | ||||||||
Electric Utilities — 0.84% | ||||||||
19,838 | El Paso Electric Co. | 795 | ||||||
20,203 | ITC Holdings Corp. | 817 | ||||||
237 | PNM Resources, Inc. | 7 | ||||||
181 | Portland General Electric Co. | 7 | ||||||
460 | Spark Energy, Inc., Class – A | 6 |
Shares | Security Description | Value (000) | ||||||
Electric Utilities (continued) | ||||||||
239 | The Empire District Electric Co. | $ | 7 | |||||
160 | UIL Holdings Corp. | 7 | ||||||
190 | Unitil Corp. | 7 | ||||||
1,653 | ||||||||
Electrical Equipment — 1.19% | ||||||||
5,325 | Acuity Brands, Inc. | 745 | ||||||
9,934 | Brady Corp. | 272 | ||||||
8,881 | EnerSys | 548 | ||||||
22,728 | Enphase Energy, Inc. (a) | 325 | ||||||
21,175 | General Cable Corp. | 316 | ||||||
1,086 | Hubbell, Inc., Class – B | 116 | ||||||
90 | Preformed Line Products Co. | 5 | ||||||
55 | Regal-Beloit Corp. | 4 | ||||||
2,331 | ||||||||
Electronic Equipment, Instruments & Components — 3.67% | ||||||||
12,557 | Belden, Inc. | 990 | ||||||
170 | Benchmark Electronics, Inc. (a) | 4 | ||||||
15,150 | Cognex Corp. (a) | 626 | ||||||
9,000 | Control4 Corp. (a) | 138 | ||||||
100 | Dolby Laboratories, Inc., Class – A | 4 | ||||||
13,229 | DTS, Inc. (a) | 407 | ||||||
280 | Electro Rent Corp. | 4 | ||||||
260 | Fabrinet (a) | 4 | ||||||
42,495 | Flextronics International Ltd. (a) | 475 | ||||||
10,259 | Insight Enterprises, Inc. (a) | 266 | ||||||
7,233 | IPG Photonics Corp. (a) | 542 | ||||||
10,508 | Itron, Inc. (a) | 444 | ||||||
17,785 | Jabil Circuit, Inc. | 388 | ||||||
375 | Kimball Electronics, Inc. (a) | 5 | ||||||
7,483 | Littelfuse, Inc. | 723 | ||||||
170 | PC Connection, Inc. | 4 | ||||||
110 | Plexus Corp. (a) | 5 | ||||||
9,812 | Rogers Corp. (a) | 799 | ||||||
180 | Sanmina Corp. (a) | 4 | ||||||
60 | SYNNEX Corp. | 5 | ||||||
4,843 | Tech Data Corp. (a) | 306 | ||||||
29,766 | Trimble Navigation Ltd. (a) | 790 | ||||||
605 | TTM Technologies, Inc. (a) | 5 | ||||||
8,170 | Universal Display Corp.ˆ (a) | 227 | ||||||
300 | Vishay Intertechnology, Inc. | 4 | ||||||
7,169 | ||||||||
Energy Equipment & Services — 1.50% | ||||||||
12,643 | Atwood Oceanics, Inc. (a) | 359 | ||||||
230 | Dawson Geophysical Co. | 3 | ||||||
80 | Diamond Offshore Drilling, Inc. | 3 | ||||||
4,001 | Dril-Quip, Inc. (a) | 307 | ||||||
140 | GulfMark Offshore, Inc., Class – A | 3 | ||||||
25,330 | Helix Energy Solutions Group, Inc. (a) | 550 | ||||||
55,044 | McDermott International, Inc. (a) | 160 |
See accompanying notes to financial statements.
47
HC CAPITAL TRUST
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Energy Equipment & Services (continued) | ||||||||
280 | Nabors Industries Ltd. | $ | 4 | |||||
62,715 | Newpark Resources, Inc. (a) | 598 | ||||||
1,080 | Parker Drilling Co. (a) | 3 | ||||||
80 | PHI, Inc. (a) | 3 | ||||||
45,854 | Superior Energy Services, Inc. | 924 | ||||||
250 | Tesco Corp. | 3 | ||||||
90 | Unit Corp. (a) | 3 | ||||||
4,180 | Vantage Drilling Co. (a) | 2 | ||||||
2,925 | ||||||||
Food & Staples Retailing — 0.91% | ||||||||
19,564 | Casey’s General Stores, Inc. | 1,767 | ||||||
250 | Ingles Markets, Inc., Class – A | 9 | ||||||
320 | Village Super Market, Inc., Class – A | 9 | ||||||
1,785 | ||||||||
Food Products — 0.01% | ||||||||
90 | Cal-Maine Foods, Inc. | 4 | ||||||
123 | Fresh Del Monte Produce, Inc. | 4 | ||||||
85 | John B Sanfilippo & Son, Inc. | 4 | ||||||
400 | Omega Protein Corp. (a) | 4 | ||||||
40 | Sanderson Farms, Inc. | 3 | ||||||
1 | Seaboard Corp. (a) | 4 | ||||||
23 | ||||||||
Gas Utilities — 0.74% | ||||||||
120 | Southwest Gas Corp. | 7 | ||||||
37,728 | UGI Corp. | 1,433 | ||||||
1,440 | ||||||||
Health Care Equipment & Supplies — 5.82% | ||||||||
7,130 | Abiomed, Inc. (a) | 271 | ||||||
47,443 | DexCom, Inc. (a) | 2,612 | ||||||
2,930 | Edwards Lifesciences Corp. (a) | 373 | ||||||
210 | Exactech, Inc. (a) | 5 | ||||||
90 | Greatbatch, Inc. (a) | 4 | ||||||
120 | Halyard Health, Inc. (a) | 5 | ||||||
2,600 | HeartWare International, Inc. (a) | 191 | ||||||
48,139 | Insulet Corp. (a) | 2,217 | ||||||
3,720 | LDR Holding Corp. (a) | 122 | ||||||
13,282 | Neogen Corp. (a) | 659 | ||||||
16,862 | Novadaq Technologies, Inc. (a) | 280 | ||||||
11,225 | STERIS Corp. | 728 | ||||||
6,417 | The Cooper Cos., Inc. | 1,040 | ||||||
15,485 | The Spectranetics Corp. (a) | 535 | ||||||
58,590 | Unilife Corp.ˆ (a) | 196 | ||||||
29,810 | West Pharmaceutical Services, Inc. | 1,587 | ||||||
20,300 | Zeltiq Aesthetics, Inc. (a) | 567 | ||||||
11,392 | ||||||||
Health Care Providers & Services — 3.10% | ||||||||
35,846 | Acadia Healthcare Co., Inc. (a) | 2,195 | ||||||
160 | Almost Family, Inc. (a) | 5 | ||||||
100 | AmSurg Corp. (a) | 5 |
Shares | Security Description | Value (000) | ||||||
Health Care Providers & Services (continued) | ||||||||
5,260 | Catamaran Corp. (a) | $ | 272 | |||||
47 | Chemed Corp. | 5 | ||||||
7,415 | ExamWorks Group, Inc. (a) | 308 | ||||||
990 | Five Star Quality Care, Inc. (a) | 4 | ||||||
210 | Hanger, Inc. (a) | 5 | ||||||
125 | HealthSouth Corp. | 5 | ||||||
3,951 | iKang Healthcare Group, Inc., ADRˆ (a) | 59 | ||||||
220 | Kindred Healthcare, Inc. | 4 | ||||||
160 | LHC Group, Inc. (a) | 5 | ||||||
19,832 | LifePoint Hospitals, Inc. (a) | 1,427 | ||||||
70 | Magellan Health Services, Inc. (a) | 4 | ||||||
7,340 | MEDNAX, Inc. (a) | 485 | ||||||
80 | Molina Heathcare, Inc. (a) | 4 | ||||||
3,205 | MWI Veterinary Supply, Inc. (a) | 545 | ||||||
71 | National Healthcare Corp. | 4 | ||||||
7,448 | Owens & Minor, Inc. | 261 | ||||||
330 | Select Medical Holdings Corp. | 5 | ||||||
640 | Skilled Healthcare Group, Inc. (a) | 5 | ||||||
3,240 | Team Health Holdings, Inc. (a) | 186 | ||||||
105 | The Ensign Group, Inc. | 5 | ||||||
190 | Triple-S Management Corp., Class – A (a) | 5 | ||||||
3,215 | WellCare Health Plans, Inc. (a) | 264 | ||||||
6,072 | ||||||||
Health Care Supplies — 0.07% | ||||||||
13,710 | OraSure Technologies, Inc. (a) | 139 | ||||||
Health Care Technology — 1.06% | ||||||||
15,100 | Allscripts Healthcare Solutions, Inc. (a) | 193 | ||||||
23,928 | Medidata Solutions, Inc. (a) | 1,142 | ||||||
22,573 | Omnicell, Inc. (a) | 748 | ||||||
2,083 | ||||||||
Hotels, Restaurants & Leisure — 2.33% | ||||||||
8,212 | Buffalo Wild Wings, Inc. (a) | 1,481 | ||||||
550 | Caesars Acquisition Co., Class – A (a) | 6 | ||||||
10,433 | Del Frisco’s Restaurant Group, Inc. (a) | 248 | ||||||
11,415 | Diamond Resorts International, Inc. (a) | 318 | ||||||
10,590 | Fiesta Restaurant Group, Inc. (a) | 644 | ||||||
90 | Hyatt Hotels Corp., Class – A (a) | 5 | ||||||
170 | International Speedway Corp., Class – A | 5 | ||||||
240 | Interval Leisure Group, Inc. | 5 | ||||||
17,260 | La Quinta Holdings, Inc. (a) | 381 | ||||||
90 | Life Time Fitness, Inc. (a) | 5 | ||||||
270 | Marcus Corp. | 5 | ||||||
310 | Monarch Casino & Resort, Inc. (a) | 5 | ||||||
69,430 | Ruby Tuesday, Inc. (a) | 475 | ||||||
380 | Ruth’s Hospitality Group, Inc. | 6 | ||||||
320 | SeaWorld Entertainment, Inc. | 6 | ||||||
240 | Speedway Motorsports, Inc. | 5 | ||||||
11,230 | Texas Roadhouse, Inc., Class – A | 379 | ||||||
5,662 | Vail Resorts, Inc. | 516 |
See accompanying notes to financial statements.
48
HC CAPITAL TRUST
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Hotels, Restaurants & Leisure (continued) | ||||||||
2,260 | Zoe’s Kitchen, Inc. (a) | $ | 68 | |||||
4,563 | ||||||||
Household Durables — 0.48% | ||||||||
150 | CSS Industries, Inc. | 4 | ||||||
140 | Flexsteel Industries, Inc. | 5 | ||||||
5,144 | Harman International Industries, Inc. | 548 | ||||||
940 | iRobot Corp. (a) | 33 | ||||||
290 | Lifetime Brands, Inc. | 5 | ||||||
9,465 | Meritage Homes Corp. (a) | 341 | ||||||
80 | NACCO Industries, Inc., Class – A | 5 | ||||||
941 | ||||||||
Household Products — 0.00% | ||||||||
60 | Oil-Dri Corp. of America | 2 | ||||||
Industrial Conglomerates — 0.13% | ||||||||
2,725 | Carlisle Cos., Inc. | 246 | ||||||
Insurance — 2.80% | ||||||||
1,922 | Alleghany Corp. (a) | 890 | ||||||
7,329 | American Equity Investment Life Holding Co. | 214 | ||||||
27,470 | American Financial Group, Inc. | 1,667 | ||||||
15,751 | Argo Group International Holdings Ltd. | 873 | ||||||
3,175 | Aspen Insurance Holdings Ltd. | 139 | ||||||
460 | Crawford & Co. | 5 | ||||||
4,225 | Endurance Specialty Holdings Ltd. | 253 | ||||||
2,724 | Everest Re Group Ltd. | 464 | ||||||
4,910 | HCC Insurance Holdings, Inc. | 263 | ||||||
323 | Maiden Holdings Ltd. | 4 | ||||||
500 | MBIA, Inc. (a) | 5 | ||||||
300 | OneBeacon Insurance Group Ltd. | 5 | ||||||
70 | Phoenix Cos., Inc. (a) | 5 | ||||||
1,890 | Primerica, Inc. | 103 | ||||||
6,660 | Symetra Financial Corp. | 154 | ||||||
230 | Universal Insurance Holdings, Inc. | 5 | ||||||
8,221 | W.R. Berkley Corp. | 421 | ||||||
5,470 | ||||||||
Internet & Catalog Retail — 0.00% | ||||||||
490 | 1-800-FLOWERS.COM, Inc., Class – A (a) | 4 | ||||||
Internet Software & Services — 3.11% | ||||||||
6,040 | Akamai Technologies, Inc. (a) | 380 | ||||||
100 | AOL, Inc. (a) | 5 | ||||||
12,431 | Benefitfocus, Inc. (a) | 408 | ||||||
330 | Blucora, Inc. (a) | 5 | ||||||
51,212 | Brightcove, Inc. (a) | 398 | ||||||
8,860 | comScore, Inc. (a) | 411 | ||||||
14,195 | Demandware, Inc. (a) | 817 | ||||||
400 | Dice Holdings, Inc. (a) | 4 | ||||||
1,050 | EarthLink Holdings Corp. | 5 | ||||||
19,220 | Envestnet, Inc. (a) | 945 |
Shares | Security Description | Value (000) | ||||||
Internet Software & Services (continued) | ||||||||
24,307 | Gogo, Inc.ˆ (a) | $ | 402 | |||||
8,206 | Hortonworks, Inc. (a) | 222 | ||||||
75 | j2 Global, Inc. | 5 | ||||||
12,719 | Lands’ End, Inc. (a) | 686 | ||||||
4,690 | Marketo, Inc. (a) | 153 | ||||||
21,725 | Monster Worldwide, Inc. (a) | 100 | ||||||
26,918 | QuinStreet, Inc. (a) | 163 | ||||||
1,936 | Shutterstock, Inc. (a) | 134 | ||||||
23,022 | TrueCar, Inc.ˆ (a) | 527 | ||||||
4,230 | Trulia, Inc. (a) | 195 | ||||||
6,540 | Web.com Group, Inc. (a) | 124 | ||||||
6,089 | ||||||||
Investment Banking & Brokerage — 0.13% | ||||||||
10,100 | E*Trade Financial Corp. (a) | 245 | ||||||
IT Services — 1.13% | ||||||||
110 | Blackhawk Network Holdings, Inc. (a) | 4 | ||||||
160 | Booz Allen Hamilton Holding Corp. | 4 | ||||||
49 | CACI International, Inc., Class – A (a) | 4 | ||||||
93 | Cass Information Systems, Inc. | 5 | ||||||
520 | Computer Task Group, Inc. | 5 | ||||||
192 | Convergys Corp. | 4 | ||||||
141 | CoreLogic, Inc. (a) | 4 | ||||||
172 | CSG Systems International, Inc. | 4 | ||||||
50 | DST Systems, Inc. | 5 | ||||||
600 | Global Cash Access Holdings, Inc. (a) | 4 | ||||||
2,303 | Global Payments, Inc. | 186 | ||||||
120 | iGATE Corp. (a) | 5 | ||||||
20,816 | Jack Henry & Associates, Inc. | 1,295 | ||||||
110 | Leidos Holdings, Inc. | 5 | ||||||
143 | ManTech International Corp., Class – A | 4 | ||||||
530 | MoneyGram International, Inc. (a) | 5 | ||||||
160 | NeuStar, Inc., Class – A (a) | 4 | ||||||
90 | Science Applications International Corp. | 4 | ||||||
190 | Sykes Enterprises, Inc. (a) | 4 | ||||||
10,132 | Syntel, Inc. (a) | 456 | ||||||
180 | TeleTech Holdings, Inc. (a) | 4 | ||||||
540 | The Hackett Group, Inc. | 5 | ||||||
160 | Unisys Corp. (a) | 5 | ||||||
4,970 | VeriFone Systems, Inc. (a) | 185 | ||||||
2,210 | ||||||||
Leisure Products — 0.14% | ||||||||
140 | Arctic Cat, Inc. | 5 | ||||||
170 | Johnson Outdoors, Inc., Class – A | 5 | ||||||
53,976 | Leapfrog Enterprises, Inc. (a) | 255 | ||||||
130 | Sturm, Ruger & Co., Inc. | 5 | ||||||
270 | ||||||||
Life Sciences Tools & Services — 0.94% | ||||||||
670 | Affymetrix, Inc. (a) | 7 | ||||||
380 | Albany Molecular Research, Inc. (a) | 6 | ||||||
48 | Bio-Rad Laboratories, Inc., Class – A (a) | 6 |
See accompanying notes to financial statements.
49
HC CAPITAL TRUST
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Life Sciences Tools & Services (continued) | ||||||||
60 | Bio-Techne Corp. | $ | 6 | |||||
320 | Bruker Biosciences Corp. (a) | 6 | ||||||
250 | Cambrex Corp. (a) | 5 | ||||||
100 | Charles River Laboratories International, Inc. (a) | 6 | ||||||
12,140 | Fluidigm Corp. (a) | 409 | ||||||
4,202 | Illumina, Inc. (a) | 776 | ||||||
330 | Luminex Corp. (a) | 6 | ||||||
7,573 | PAREXEL International Corp. (a) | 421 | ||||||
7,873 | QIAGEN NV (a) | 184 | ||||||
1,838 | ||||||||
Machinery — 3.55% | ||||||||
9,435 | Actuant Corp., Class – A | 257 | ||||||
100 | AGCO Corp. | 5 | ||||||
90 | American Railcar Industries | 5 | ||||||
220 | Ampco-Pittsburgh Corp. | 4 | ||||||
198 | Briggs & Stratton Corp. | 4 | ||||||
8,610 | Columbus McKinnon Corp./NY | 241 | ||||||
350 | Global Brass & Copper Holdings, Inc. | 5 | ||||||
8,050 | Harsco Corp. | 152 | ||||||
55 | Hyster-Yale Materials Handling, Inc. | 4 | ||||||
10,770 | IDEX Corp. | 838 | ||||||
21,840 | ITT Corp. | 884 | ||||||
12,832 | Lincoln Electric Holdings, Inc. | 886 | ||||||
29,940 | Meritor, Inc. (a) | 454 | ||||||
221 | Miller Industries, Inc. | 5 | ||||||
15,225 | Mueller Water Products, Inc., Class – A | 156 | ||||||
4,205 | Pall Corp. | 426 | ||||||
1,234 | Proto Labs, Inc. (a) | 83 | ||||||
9,823 | Snap-on, Inc. | 1,342 | ||||||
8,310 | Terex Corp. | 232 | ||||||
90 | The Greenbrier Cos., Inc.ˆ | 5 | ||||||
100 | The Timken Co. | 4 | ||||||
4,050 | TriMas Corp. (a) | 127 | ||||||
37,860 | Wabash National Corp. (a) | 468 | ||||||
3,555 | WABCO Holdings, Inc. (a) | 372 | ||||||
6,959 | ||||||||
Marine — 0.29% | ||||||||
2,253 | Kirby Corp. (a) | 182 | ||||||
96,335 | Navios Maritime Holdings, Inc.ˆ | 396 | ||||||
578 | ||||||||
Media — 0.90% | ||||||||
110 | AMC Entertainment Holdings, Inc., Class – A | 3 | ||||||
240 | Entercom Communications Corp. (a) | 3 | ||||||
70,988 | Harte-Hanks, Inc. | 549 | ||||||
10,530 | Imax Corp. (a) | 325 | ||||||
260 | Journal Communications, Inc., Class – A (a) | 3 | ||||||
15,570 | Lions Gate Entertainment Corp. | 499 | ||||||
4,688 | Rentrak Corp. (a) | 341 |
Shares | Security Description | Value (000) | ||||||
Media (continued) | ||||||||
350 | Salem Communications Corp., Class – A | $ | 3 | |||||
77 | Scholastic Corp. | 3 | ||||||
110 | Time, Inc. | 3 | ||||||
220 | Townsquare Media, Inc., Class – A (a) | 3 | ||||||
1,735 | ||||||||
Metals & Mining — 1.01% | ||||||||
11,620 | Agnico-Eagle Mines Ltd. | 289 | ||||||
12,690 | Allegheny Technologies, Inc. | 442 | ||||||
7,516 | Carpenter Technology Corp. | 370 | ||||||
260 | Commercial Metals Co. | 4 | ||||||
26,414 | Globe Specialty Metals, Inc. | 456 | ||||||
7,481 | Horsehead Holding Corp. (a) | 118 | ||||||
60 | Kaiser Aluminum Corp. | 4 | ||||||
251 | Olympic Steel, Inc. | 4 | ||||||
6,240 | Schnitzer Steel Industries, Inc., Class – A | 141 | ||||||
150 | United States Steel Corp. | 4 | ||||||
5,832 | US Silica Holdings, Inc. | 150 | ||||||
1,982 | ||||||||
Multiline Retail — 0.00% | ||||||||
85 | Big Lots, Inc. | 3 | ||||||
37 | Dillard’s, Inc., Class – A | 5 | ||||||
8 | ||||||||
Multi-Utilities — 0.48% | ||||||||
196 | Avista Corp. | 7 | ||||||
17,628 | Black Hills Corp. | 935 | ||||||
942 | ||||||||
Oil, Gas & Consumable Fuels — 1.88% | ||||||||
70 | Adams Resources & Energy, Inc. | 3 | ||||||
41,354 | Bill Barrett Corp. (a) | 471 | ||||||
9,452 | Cabot Oil & Gas Corp. | 280 | ||||||
33,100 | Carrizo Oil & Gas, Inc. (a) | 1,378 | ||||||
3,850 | CONSOL Energy, Inc. | 130 | ||||||
8,168 | Continental Resources, Inc. (a) | 313 | ||||||
100 | Delek US Holdings, Inc. | 3 | ||||||
440 | Denbury Resources, Inc. | 4 | ||||||
62,800 | Emerald Oil, Inc.ˆ (a) | 75 | ||||||
120 | Green Plains Renewable Energy, Inc. | 3 | ||||||
8,367 | Interoil Corp.ˆ (a) | 408 | ||||||
280 | Jones Energy, Inc., Class – A (a) | 3 | ||||||
100 | PBF Energy, Inc. | 3 | ||||||
7,914 | Rex Energy Corp. (a) | 40 | ||||||
31,520 | SandRidge Energy, Inc.ˆ (a) | 57 | ||||||
90 | SM Energy Co. | 3 | ||||||
20,459 | Synergy Resources Corp. (a) | 257 | ||||||
80 | Western Refining, Inc. | 3 | ||||||
20,263 | WPX Energy, Inc. (a) | 236 | ||||||
3,670 | ||||||||
Paper & Forest Products — 0.48% | ||||||||
9,000 | Boise Cascade Co. (a) | 334 | ||||||
100 | Domtar Corp. | 4 |
See accompanying notes to financial statements.
50
HC CAPITAL TRUST
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Paper & Forest Products (continued) | ||||||||
36,300 | Louisiana-Pacific Corp. (a) | $ | 602 | |||||
170 | P.H. Glatfelter Co. | 4 | ||||||
100 | Schweitzer-Mauduit International, Inc. | 4 | ||||||
948 | ||||||||
Personal Products — 0.00% | ||||||||
130 | Nature’s Sunshine Products, Inc. | 2 | ||||||
90 | Nutraceutical International Corp. (a) | 2 | ||||||
4 | ||||||||
Pharmaceuticals — 0.22% | ||||||||
14,122 | BioDelivery Sciences International, Inc. (a) | 170 | ||||||
187 | Impax Laboratories, Inc. (a) | 6 | ||||||
2,050 | Intersect ENT, Inc. (a) | 38 | ||||||
2,105 | Pacira Pharmaceuticals, Inc. (a) | 188 | ||||||
190 | Phibro Animal Health Corp., Class – A | 6 | ||||||
180 | Prestige Brands Holdings, Inc. (a) | 6 | ||||||
210 | Sagent Pharmaceuticals, Inc. (a) | 5 | ||||||
720 | SciClone Pharmaceuticals, Inc. (a) | 6 | ||||||
430 | Sucampo Pharmaceuticals, Inc., Class – A (a) | 6 | ||||||
232 | The Medicines Co. (a) | 6 | ||||||
437 | ||||||||
Professional Services — 0.94% | ||||||||
440 | CBIZ, Inc. (a) | 4 | ||||||
230 | Kelly Services, Inc., Class – A | 4 | ||||||
8,452 | Paylocity Holding Corp. (a) | 221 | ||||||
70 | VSE Corp. | 5 | ||||||
24,765 | WageWorks, Inc. (a) | 1,598 | ||||||
1,832 | ||||||||
Real Estate Investment Trusts — 2.28% | ||||||||
348 | AG Mortgage Investment Trust, Inc. | 6 | ||||||
10,597 | Alexandria Real Estate Equities, Inc. | 939 | ||||||
350 | American Capital Mortgage Investment Corp. | 7 | ||||||
1,290 | Anworth Mortgage Asset Corp. | 7 | ||||||
430 | Apollo Residential Mortgage, Inc. | 7 | ||||||
15,700 | Ares Commercial Real Estate Corp. | 180 | ||||||
1,850 | Armour Residential REIT, Inc. | 7 | ||||||
670 | Ashford Hospitality Trust | 7 | ||||||
532 | Capstead Mortgage Corp. | 7 | ||||||
350 | CBL & Associates Properties, Inc. | 7 | ||||||
990 | Cedar Realty Trust, Inc. | 7 | ||||||
177 | Coresite Realty Corp. | 7 | ||||||
13,356 | Corporate Office Properties Trust | 379 | ||||||
260 | CyrusOne, Inc. | 7 | ||||||
740 | CYS Investments, Inc. | 6 | ||||||
6,724 | DiamondRock Hospitality Co. | 100 | ||||||
810 | Dynex Capital, Inc. | 7 | ||||||
10,291 | EastGroup Properties, Inc. | 652 | ||||||
360 | Hatteras Financial Corp. | 7 | ||||||
433 | Invesco Mortgage Capital | 7 |
Shares | Security Description | Value (000) | ||||||
Real Estate Investment Trusts (continued) | ||||||||
620 | Lexington Realty Trust | $ | 7 | |||||
9,483 | Mid-America Apartment Communities, Inc. | 708 | ||||||
282 | Pennsylvania Real Estate Investment Trust | 7 | ||||||
9,986 | Potlatch Corp. | 418 | ||||||
90 | PS Business Parks, Inc. | 7 | ||||||
920 | Rait Financial Trust | 7 | ||||||
362 | RE/MAX Holdings, Inc., Class – A | 12 | ||||||
43,235 | Redwood Trust, Inc. | 851 | ||||||
7,305 | Strategic Hotels & Resorts, Inc. (a) | 97 | ||||||
454 | Western Asset Mortgage Capital Corp. | 7 | ||||||
4,474 | ||||||||
Real Estate Management & Development — 0.00% | ||||||||
380 | St. Joe Corp. (a) | 7 | ||||||
Road & Rail — 0.18% | ||||||||
15 | AMERCO, Inc. | 4 | ||||||
3,057 | Con-way, Inc. | 150 | ||||||
1,668 | Kansas City Southern Industries | 204 | ||||||
358 | ||||||||
Semiconductors & Semiconductor Equipment — 7.78% | ||||||||
570 | Alpha & Omega Semiconductor Ltd. (a) | 5 | ||||||
6,344 | Altera Corp. | 234 | ||||||
810 | Amkor Technology, Inc. (a) | 6 | ||||||
29,370 | Atmel Corp. (a) | 247 | ||||||
6,645 | Canadian Solar, Inc. (a) | 161 | ||||||
18,925 | Cavium, Inc. (a) | 1,170 | ||||||
270 | Cirrus Logic, Inc. (a) | 6 | ||||||
92,417 | Cypress Semiconductor Corp.ˆ | 1,320 | ||||||
9,511 | Diodes, Inc. (a) | 262 | ||||||
389 | Entegris, Inc. (a) | 5 | ||||||
22,076 | Fairchild Semiconductor International, Inc. (a) | 373 | ||||||
16,420 | Integrated Device Technology, Inc. (a) | 322 | ||||||
293 | Integrated Silicon Solution, Inc. | 5 | ||||||
8,818 | International Rectifier Corp. (a) | 352 | ||||||
390 | IXYS Corp. | 5 | ||||||
10,832 | Maxim Integrated Products, Inc. | 345 | ||||||
8,052 | Mellanox Technologies Ltd. (a) | 344 | ||||||
2,054 | Microsemi Corp. (a) | 58 | ||||||
23,048 | Monolithic Power Systems, Inc. | 1,146 | ||||||
190 | OmniVision Technologies, Inc. (a) | 5 | ||||||
60,230 | ON Semiconductor Corp. (a) | 610 | ||||||
620 | Photronics, Inc. (a) | 5 | ||||||
15,230 | Power Integrations, Inc. | 788 | ||||||
91,300 | QuickLogic Corp.ˆ (a) | 287 | ||||||
5,700 | Semtech Corp. (a) | 157 | ||||||
3,133 | Silicon Laboratories, Inc. (a) | 149 | ||||||
19,252 | Skyworks Solutions, Inc. | 1,400 | ||||||
74,628 | Spansion, Inc., Class – A (a) | 2,554 | ||||||
15,980 | SunEdison, Inc. (a) | 312 |
See accompanying notes to financial statements.
51
HC CAPITAL TRUST
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Semiconductors & Semiconductor Equipment (continued) | ||||||||
5,730 | Synaptics, Inc. (a) | $ | 394 | |||||
261 | Teradyne, Inc. | 5 | ||||||
15,040 | Tessera Technologies, Inc. | 538 | ||||||
41,270 | TriQuint Semiconductor, Inc. (a) | 1,137 | ||||||
590 | Ultra Clean Holdings, Inc. (a) | 5 | ||||||
26,743 | Ultratech, Inc. (a) | 496 | ||||||
15,208 | ||||||||
Software — 5.23% | ||||||||
6,630 | Advent Software, Inc. | 203 | ||||||
21,896 | Aspen Technology, Inc. (a) | 767 | ||||||
13,615 | CyberArk Software Ltd.ˆ (a) | 540 | ||||||
250 | Ebix, Inc. | 4 | ||||||
10,590 | Electronic Arts, Inc. (a) | 498 | ||||||
5,100 | Ellie Mae, Inc. (a) | 206 | ||||||
280 | EPIQ Systems, Inc. | 5 | ||||||
60 | ePlus, Inc. (a) | 5 | ||||||
60 | Fair Isaac Corp. | 4 | ||||||
12,300 | Fleetmatics Group Ltd. (a) | 437 | ||||||
12,600 | Fortinet, Inc. (a) | 386 | ||||||
13,008 | Guidewire Software, Inc. (a) | 659 | ||||||
17,270 | Manhattan Associates, Inc. (a) | 703 | ||||||
191 | Mentor Graphics Corp. | 4 | ||||||
7,758 | NetSuite, Inc. (a) | 847 | ||||||
15,175 | Proofpoint, Inc. (a) | 732 | ||||||
34,518 | PTC, Inc. (a) | 1,264 | ||||||
15,779 | Qualys, Inc. (a) | 596 | ||||||
27,269 | Rovi Corp. (a) | 616 | ||||||
17,556 | SeaChange International, Inc. (a) | 112 | ||||||
22,006 | Silver Spring Networks, Inc. (a) | 186 | ||||||
150 | Take-Two Interactive Software, Inc. (a) | 4 | ||||||
18,700 | Tangoe, Inc. (a) | 244 | ||||||
1,550 | Telecommunication Systems, Inc. (a) | 5 | ||||||
3,797 | The Ultimate Software Group, Inc. (a) | 557 | ||||||
24,915 | TiVo, Inc. (a) | 295 | ||||||
127,000 | Zynga, Inc. (a) | 338 | ||||||
10,217 | ||||||||
Specialty Retail — 2.28% | ||||||||
140 | Abercrombie & Fitch Co., Class – A | 4 | ||||||
320 | Ascena Retail Group, Inc. (a) | 4 | ||||||
280 | Big 5 Sporting Goods Corp. | 4 | ||||||
10,419 | Cabela’s, Inc., Class – A (a) | 549 | ||||||
10,765 | Chico’s FAS, Inc. | 175 | ||||||
240 | Destination Maternity Corp. | 4 | ||||||
2,125 | Five Below, Inc. (a) | 87 | ||||||
110 | GameStop Corp., Class – Aˆ | 4 | ||||||
40 | Group 1 Automotive, Inc. | 4 | ||||||
170 | Haverty Furniture Cos., Inc. | 4 | ||||||
11,800 | MarineMax, Inc. (a) | 237 |
Shares | Security Description | Value (000) | ||||||
Specialty Retail (continued) | ||||||||
60 | Murphy USA, Inc. (a) | $ | 4 | |||||
50 | Outerwall, Inc. (a) | 4 | ||||||
7,687 | Rent-A-Center, Inc. | 279 | ||||||
12,997 | Restoration Hardware Holdings, Inc. (a) | 1,247 | ||||||
17,110 | Select Comfort Corp. (a) | 462 | ||||||
140 | Sonic Automotive, Inc., Class – A | 4 | ||||||
250 | Stein Mart, Inc. | 4 | ||||||
90 | The Cato Corp. | 4 | ||||||
410 | Tilly’s, Inc., Class – A (a) | 4 | ||||||
17,508 | Tractor Supply Co. | 1,379 | ||||||
4,467 | ||||||||
Technology Hardware, Storage & Peripherals — 0.65% | ||||||||
11,731 | Cray, Inc. (a) | 404 | ||||||
101 | Lexmark International, Inc., Class – A | 4 | ||||||
27,600 | QLogic Corp. (a) | 368 | ||||||
14,035 | Super Micro Computer, Inc. (a) | 490 | ||||||
1,266 | ||||||||
Textiles, Apparel & Luxury Goods — 2.74% | ||||||||
220 | Culp, Inc. | 5 | ||||||
15,874 | Deckers Outdoor Corp. (a) | 1,445 | ||||||
15,669 | G-III Apparel Group Ltd. (a) | 1,583 | ||||||
170 | Movado Group, Inc. | 5 | ||||||
18,673 | Under Armour, Inc., Class – A (a) | 1,268 | ||||||
5,800 | Vera Bradley, Inc. (a) | 118 | ||||||
1,890 | Vince Holding Corp. (a) | 49 | ||||||
30,238 | Wolverine World Wide, Inc. | 891 | ||||||
5,364 | ||||||||
Thrifts & Mortgage Finance — 0.06% | ||||||||
140 | Federal Agricultural Mortgage Corp., Class��– C | 4 | ||||||
120 | First Defiance Financial Corp. | 4 | ||||||
190 | Home Loan Servicing Solutions Ltd. | 4 | ||||||
250 | HomeStreet, Inc. | 4 | ||||||
110 | Meta Financial Group, Inc. | 4 | ||||||
234 | Walker & Dunlop, Inc. (a) | 4 | ||||||
1,270 | WSFS Financial Corp. | 98 | ||||||
122 | ||||||||
Tobacco — 0.00% | ||||||||
90 | Universal Corp. | 4 | ||||||
Trading Companies & Distributors — 1.11% | ||||||||
194 | Aircastle Ltd. | 4 | ||||||
17,025 | Applied Industrial Technologies, Inc. | 777 | ||||||
200 | CAI International, Inc. (a) | 5 | ||||||
6,472 | GATX Corp. | 372 | ||||||
340 | Houston Wire & Cable Co. | 4 | ||||||
16,520 | MRC Global, Inc. (a) | 250 | ||||||
18,100 | Stock Building Supply Holdings, Inc. (a) | 277 | ||||||
97 | TAL International Group, Inc. | 4 | ||||||
130 | Textainer Group Holdings Ltd. | 4 |
See accompanying notes to financial statements.
52
HC CAPITAL TRUST
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Trading Companies & Distributors (continued) | ||||||||
4,502 | Watsco, Inc. | $ | 482 | |||||
2,179 | ||||||||
Wireless Telecommunication Services — 0.18% | ||||||||
3,180 | SBA Communications Corp., Class – A (a) | 353 | ||||||
250 | Spok Holdings, Inc. | 4 | ||||||
357 | ||||||||
Total Common Stocks | 171,042 | |||||||
Contingent Rights — 0.00% | ||||||||
Biotechnology — 0.00% | ||||||||
700 | Clinical Data, Inc.* (a)(b)(c) | — | ||||||
Machinery — 0.00% | ||||||||
1,400 | Gerber Scientific, Inc.* (a)(c)(d) | — | ||||||
Total Contingent Rights | — | |||||||
Time Deposit — 3.47% | ||||||||
$6,803 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/15 | 6,803 | ||||||
Total Time Deposit | 6,803 | |||||||
Mutual Funds — 9.46% | ||||||||
18,434,432 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (e) | 18,434 | ||||||
64,194 | SSgA Prime Money Market Fund, 0.00% (e) | 64 | ||||||
22,584 | SSgA Treasury Money Market Fund, 0.00% (e) | 23 | ||||||
Total Mutual Funds | 18,521 | |||||||
Total Investments (cost $148,823) — 100.29% | 196,366 | |||||||
Liabilities in excess of other assets — (0.29)% | (559 | ) | ||||||
Net Assets — 100.00% | $ | 195,807 |
Amounts designated as “—” are $0 or have been rounded to $0.
* | Security was fair valued on December 31, 2014 and represents a Level 2 security. Refer to Note 2 in the Notes to Financial Statements. |
ˆ | All or part of this security was on loan as of December 31, 2014. The total value of securities on loan as of December 31, 2014, was $5,388 (amount in thousands). |
(a) | Represents non-income producing security. |
(b) | Rights entitle the Portfolio to cash based on the company’s achievement of milestones in connection with a pharmaceutical drug that was brought to market. |
(c) | These securities have been deemed illiquid by the Specialist Manager and represent 0.00% of the Portfolio. |
(d) | Rights entitle the Portfolio to cash based on any net recoveries obtained by the company in connection with certain claims of patent infringement. |
(e) | The rate disclosed is the rate in effect on December 31, 2014. |
ADR — American Depositary Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of 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 | HC Capital Solutions | Total | |||||||||||||||||||||
Common Stocks | 16.67 | % | 27.78 | % | 36.96 | % | 0.82 | % | 5.13 | % | — | 87.36 | % | |||||||||||||||
Contingent Rights | — | — | — | — | — | — | 0.00 | % | ||||||||||||||||||||
Time Deposit | — | 1.65 | % | 1.76 | % | — | 0.06 | % | — | 3.47 | % | |||||||||||||||||
Mutual Funds | 0.03 | % | — | — | 0.02 | % | — | 9.41 | % | 9.46 | % | |||||||||||||||||
Other Assets (Liablities) | 0.01 | % | — | -0.29 | % | -0.01 | % | — | — | -0.29 | % | |||||||||||||||||
Total Net Assets | 16.71 | % | 29.43 | % | 38.43 | % | 0.83 | % | 5.19 | % | 9.41 | % | 100.00 | % |
See accompanying notes to financial statements.
53
HC CAPITAL TRUST
The Real Estate Securities Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 93.83% | ||||||||
Consumer Finance — 1.47% | ||||||||
63,491 | Education Realty Trust, Inc. | $ | 2,323 | |||||
Food & Staples Retailing — 1.59% | ||||||||
26,048 | CVS Caremark Corp. | 2,509 | ||||||
Health Care Providers & Services — 2.93% | ||||||||
74,841 | American Realty Capital Healthcare Trust | 891 | ||||||
51,136 | HCA Holdings, Inc. (a) | 3,752 | ||||||
4,643 | ||||||||
Hotels, Restaurants & Leisure — 5.05% | ||||||||
68,380 | Pebblebrook Hotel Trust | 3,121 | ||||||
21,739 | Starwood Hotels & Resorts Worldwide, Inc. | 1,762 | ||||||
36,210 | Wyndham Worldwide Corp. | 3,105 | ||||||
7,988 | ||||||||
Paper & Forest Products — 0.92% | ||||||||
40,779 | Weyerhaeuser Co. | 1,464 | ||||||
Real Estate Investment Trusts — 77.73% | ||||||||
46,308 | Acadia Realty Trust | 1,483 | ||||||
40,588 | American Tower Corp. | 4,012 | ||||||
68,457 | AvalonBay Communities, Inc. | 11,186 | ||||||
226,401 | Big Yellow Group PLC | 2,133 | ||||||
59,615 | Boston Properties, Inc. | 7,672 | ||||||
153,392 | Douglas Emmett, Inc. | 4,356 | ||||||
112,847 | Duke Realty Corp. | 2,280 | ||||||
21,299 | EastGroup Properties, Inc. | 1,349 | ||||||
73,024 | Equity Lifestyle Properties, Inc. | 3,764 | ||||||
37,341 | Essex Property Trust, Inc. | 7,715 | ||||||
37,311 | Extra Space Storage, Inc. | 2,188 | ||||||
33,481 | Federal Realty Investment Trust | 4,468 | ||||||
334,002 | General Growth Properties, Inc. | 9,395 | ||||||
131,457 | Health Care REIT, Inc. | 9,947 | ||||||
102,088 | Healthcare Trust of America, Inc., Class – A | 2,750 | ||||||
53,747 | Kennedy-Wilson Holdings, Inc. | 1,360 | ||||||
30,535 | Kilroy Realty Corp. | 2,109 | ||||||
52,732 | Kite Realty Group Trust | 1,516 | ||||||
118,571 | Paramount Group, Inc. (a) | 2,204 | ||||||
103,196 | Physicians Realty Trust | 1,713 | ||||||
44,568 | Public Storage | 8,238 | ||||||
186,479 | Retail Properties of America, Inc., Class – A | 3,112 | ||||||
91,349 | RLJ Lodging Trust | 3,063 | ||||||
59,042 | Simon Property Group, Inc. | 10,752 | ||||||
59,615 | SL Green Realty Corp. | 7,095 | ||||||
36,612 | The Macerich Co. | 3,054 | ||||||
133,544 | UDR, Inc. | 4,116 | ||||||
123,030 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Real Estate Management & Development — 2.80% | ||||||||
208,227 | Forest City Enterprises, Inc., Class – A (a) | $ | 4,435 | |||||
Wireless Telecommunication Services — 1.34% | ||||||||
19,121 | SBA Communications Corp., Class – A (a) | 2,118 | ||||||
Total Common Stocks | 148,510 | |||||||
Mutual Funds — 5.92% | ||||||||
1,613,951 | DWS Government Cash Money Market Fund, 0.03% (b) | 1,614 | ||||||
7,749,637 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (b) | 7,750 | ||||||
Total Mutual Funds | 9,364 | |||||||
Total Investments (cost $126,775) — 99.75% | 157,874 | |||||||
Other assets in excess of liabilities — 0.25% | 403 | |||||||
Net Assets — 100.00% | $ | 158,277 |
(a) | Represents non-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2014. |
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
54
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 62.54% | ||||||||
Australia — 2.73% | ||||||||
164,319 | Alumina Ltd. (Metals & Mining) (a) | $ | 237 | |||||
82,950 | Amcor Ltd. (Containers & Packaging) | 912 | ||||||
4,552,843 | Beach Energy Ltd. (Oil, Gas & Consumable Fuels) | 3,859 | ||||||
220,779 | BHP Billiton Ltd. (Metals & Mining) | 5,219 | ||||||
50,717 | Boral Ltd. (Construction Materials) | 218 | ||||||
9,018 | Caltex Australia Ltd. (Oil, Gas & Consumable Fuels) | 250 | ||||||
2,304,293 | Fortescue Metals Group Ltd. (Metals & Mining) ˆ | 5,058 | ||||||
28,876 | Iluka Resources Ltd. (Metals & Mining) | 139 | ||||||
105,187 | Incitec Pivot Ltd. (Chemicals) | 272 | ||||||
2,100,236 | Medusa Mining Ltd. (Metals & Mining) (a) | 1,097 | ||||||
51,913 | Newcrest Mining Ltd. (Metals & Mining) (a) | 457 | ||||||
25,408 | Orica Ltd. (Chemicals) | 389 | ||||||
72,578 | Origin Energy Ltd. (Oil, Gas & Consumable Fuels) | 687 | ||||||
29,955 | Rio Tinto Ltd. (Metals & Mining) | 1,404 | ||||||
391,692 | Santos Ltd. (Oil, Gas & Consumable Fuels) | 2,616 | ||||||
50,974 | Woodside Petroleum Ltd. (Oil, Gas & Consumable Fuels) | 1,576 | ||||||
14,303 | WorleyParsons Ltd. (Energy Equipment & Services) | 117 | ||||||
24,507 | ||||||||
Austria — 0.06% | ||||||||
10,049 | OMV AG (Oil, Gas & Consumable Fuels) | 267 | ||||||
7,726 | Voestalpine AG (Metals & Mining) | 305 | ||||||
572 | ||||||||
Belgium — 0.67% | ||||||||
4,015 | Solvay SA (Chemicals) | 543 | ||||||
135,934 | Umicore SA (Chemicals) | 5,470 | ||||||
6,013 | ||||||||
Bermuda — 0.09% | ||||||||
210,000 | Kunlun Energy Co. Ltd. (Oil, Gas & Consumable Fuels) | 198 | ||||||
18,200 | Nabors Industries Ltd. (Energy Equipment & Services) | 236 | ||||||
112,000 | Nine Dragons Paper Holdings Ltd. (Paper & Forest Products) | 98 | ||||||
25,075 | Seadrill Ltd. (Energy Equipment & Services) | 290 | ||||||
822 | ||||||||
Brazil — 0.26% | ||||||||
50,400 | Companhia Siderurgica Nacional SA (CSN) (Metals & Mining) | 106 | ||||||
9,513 | Cosan SA Industria e Comercio (Oil, Gas & Consumable Fuels) | 103 | ||||||
20,577 | Duratex SA (Paper Products) | 62 | ||||||
16,600 | Fibria Celulose SA (Paper & Forest Products) (a) | 203 |
Shares | Security Description | Value (000) | ||||||
Brazil (continued) | ||||||||
204,612 | Petroleo Brasileiro SA (Oil, Gas & Consumable Fuels) | $ | 739 | |||||
24,503 | Ultrapar Participacoes SA (Oil, Gas & Consumable Fuels) | 475 | ||||||
84,610 | Vale SA (Metals & Mining) | 697 | ||||||
2,385 | ||||||||
Canada — 6.57% | ||||||||
2,500 | Agnico-Eagle Mines Ltd. (Metals & Mining) | 62 | ||||||
13,000 | Agnico-Eagle Mines Ltd. (Metals & Mining) | 324 | ||||||
9,887 | Agrium, Inc. (Chemicals) ˆ | 936 | ||||||
128,360 | Alamos Gold, Inc. (Metals & Mining) | 915 | ||||||
9,600 | AltaGas Ltd. (Oil, Gas & Consumable Fuels) | 358 | ||||||
1,400 | ARC Resources Ltd. (Oil, Gas & Consumable Fuels) | 30 | ||||||
21,600 | ARC Resources Ltd. (Oil, Gas & Consumable Fuels) | 468 | ||||||
80,129 | Barrick Gold Corp. (Metals & Mining) | 864 | ||||||
12,000 | Baytex Energy Corp. (Oil, Gas & Consumable Fuels) | 200 | ||||||
27,100 | Cameco Corp. (Oil, Gas & Consumable Fuels) ˆ | 444 | ||||||
184,169 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels) | 5,696 | ||||||
32,300 | Canadian Oil Sands Ltd. (Oil, Gas & Consumable Fuels) | 290 | ||||||
52,014 | Cenovus Energy, Inc. (Oil, Gas & Consumable Fuels) | 1,073 | ||||||
29,777 | Crescent Point Energy Corp. (Oil, Gas & Consumable Fuels) ˆ | 690 | ||||||
50,904 | Eldorado Gold Corp. (Metals & Mining) | 310 | ||||||
75,634 | Enbridge, Inc. (Oil, Gas & Consumable Fuels) | 3,888 | ||||||
58,211 | Enbridge, Inc. (Oil, Gas & Consumable Fuels) | 2,994 | ||||||
2,400 | Encana Corp. (Oil, Gas & Consumable Fuels) | 33 | ||||||
50,467 | EnCana Corp. (Oil, Gas & Consumable Fuels) | 703 | ||||||
13,200 | Enerplus Corp. (Oil, Gas & Consumable Fuels) ˆ | 127 | ||||||
471,071 | First Quantum Minerals Ltd. (Metals & Mining) | 6,697 | ||||||
10,740 | Franco-Nevada Corp. (Metals & Mining) | 529 | ||||||
195,510 | Goldcorp, Inc. (Metals & Mining) | 3,622 | ||||||
55,853 | Goldcorp, Inc. (Metals & Mining) | 1,034 | ||||||
23,515 | Husky Energy, Inc. (Oil, Gas & Consumable Fuels) | 557 | ||||||
1,300 | Husky Energy, Inc. (Oil, Gas & Consumable Fuels) | 31 | ||||||
173,622 | Imperial Oil Ltd. (Oil, Gas & Consumable Fuels) | 7,472 | ||||||
19,960 | Imperial Oil Ltd. (Oil, Gas & Consumable Fuels) | 860 |
See accompanying notes to financial statements.
55
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Canada (continued) | ||||||||
22,300 | Inter Pipeline Ltd. (Oil, Gas & Consumable Fuels) | $ | 690 | |||||
5,900 | Keyera Corp. (Oil, Gas & Consumable Fuels) | 412 | ||||||
82,321 | Kinross Gold Corp. (Metals & Mining) (a) | 231 | ||||||
10,700 | Meg Energy Corp. (Oil, Gas & Consumable Fuels) (a) | 180 | ||||||
6,600 | Methanex Corp. (Chemicals) | 303 | ||||||
691,498 | New Gold, Inc. (Metals & Mining) (a) | 2,973 | ||||||
32,750 | New Gold, Inc. (Metals & Mining) (a) | 140 | ||||||
21,698 | Pacific Rubiales Energy Corp. (Oil, Gas & Consumable Fuels) | 134 | ||||||
4,000 | Paramount Resources Ltd., Class A (Oil, Gas & Consumable Fuels) (a) | 97 | ||||||
22,969 | Pembina Pipelines Corp. (Oil, Gas & Consumable Fuels) ˆ | 837 | ||||||
31,700 | Penn West Petroleum Ltd. (Oil, Gas & Consumable Fuels) ˆ | 66 | ||||||
10,000 | Peyto Exploration & Development Corp. (Oil, Gas & Consumable Fuels) ˆ | 288 | ||||||
57,046 | Potash Corp. of Saskatchewan, Inc. (Chemicals) | 2,018 | ||||||
8,800 | PrairieSky Royalty Ltd. (Oil, Gas & Consumable Fuels) | 232 | ||||||
24,451 | Silver Wheaton Corp. (Metals & Mining) | 497 | ||||||
100,698 | Suncor Energy, Inc. (Oil, Gas & Consumable Fuels) | 3,199 | ||||||
70,286 | Talisman Energy, Inc. (Oil, Gas & Consumable Fuels) | 551 | ||||||
4,300 | Talisman Energy, Inc. (Oil, Gas & Consumable Fuels) | 34 | ||||||
39,797 | Teck Cominco Ltd., Class B (Metals & Mining) | 544 | ||||||
12,051 | Tourmaline Oil Corp. (Oil, Gas & Consumable Fuels) (a) | 402 | ||||||
48,700 | TransCanada Corp. (Oil, Gas & Consumable Fuels) ˆ | 2,394 | ||||||
52,406 | Turquoise Hill Resources Ltd. (Metals & Mining) (a) | 162 | ||||||
205,348 | Uranium Participation Corp. (Capital Markets) (a) | 910 | ||||||
800 | Vermilion Energy, Inc. (Oil, Gas & Consumable Fuels) | 39 | ||||||
7,100 | Vermilion Energy, Inc. (Oil, Gas & Consumable Fuels) ˆ | 348 | ||||||
57,600 | Yamana Gold, Inc. (Metals & Mining) | 233 | ||||||
9,300 | Yamana Gold, Inc. (Metals & Mining) | 37 | ||||||
59,158 | ||||||||
Cayman Islands — 0.02% | ||||||||
125,000 | China Resources Cement Holdings Ltd. (Construction Materials) | 81 | ||||||
117,000 | Lee & Man Paper Manufacturing Ltd. (Paper & Forest Products) | 65 | ||||||
146 |
Shares | Security Description | Value (000) | ||||||
Chile — 0.06% | ||||||||
3,704 | Cap SA (Metals & Mining) | $ | 16 | |||||
86,189 | Empresas CMPC SA (Paper & Forest Products) | 216 | ||||||
30,387 | Empresas Copec SA (Oil, Gas & Consumable Fuels) | 343 | ||||||
575 | ||||||||
China — 0.58% | ||||||||
243,000 | Aluminum Corp. of China Ltd., H Shares (Metals & Mining) (a) | 112 | ||||||
69,000 | Anhui Conch Cement Co. Ltd., H Shares (Construction Materials) ˆ | 255 | ||||||
80,500 | BBMG Corp., H Shares (Construction Materials) | 67 | ||||||
285,000 | China Coal Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 178 | ||||||
199,000 | China National Building Material Co. Ltd., H Shares (Construction Materials) | 192 | ||||||
126,000 | China Oilfield Services Ltd., H Shares (Energy Equipment & Services) | 218 | ||||||
1,754,869 | China Petroleum & Chemical Corp., H Shares (Oil, Gas & Consumable Fuels) | 1,421 | ||||||
230,500 | China Shenhua Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 680 | ||||||
69,300 | Inner Mongolia Yitai Coal Co. Ltd., B Shares (Oil, Gas & Consumable Fuels) | 99 | ||||||
91,000 | Jiangxi Copper Co. Ltd., H Shares (Metals & Mining) | 156 | ||||||
1,450,729 | PetroChina Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 1,611 | ||||||
200,000 | Sinopec Shanghai Petrochemical Co. Ltd., H Shares (Chemicals) | 58 | ||||||
120,000 | Yanzhou Coal Mining Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 102 | ||||||
368,000 | Zijin Mining Group Co. Ltd., H Shares (Metals & Mining) | 104 | ||||||
5,253 | ||||||||
Colombia — 0.06% | ||||||||
27,980 | Cementos Argos SA (Construction Materials) | 120 | ||||||
337,214 | Ecopetrol SA (Oil, Gas & Consumable Fuels) | 295 | ||||||
19,571 | Grupo Argos SA (Construction Materials) | 169 | ||||||
584 | ||||||||
Curaçao — 1.37% | ||||||||
144,791 | Schlumberger Ltd. (Energy Equipment & Services) | 12,367 | ||||||
Denmark — 0.08% | ||||||||
16,454 | Novozymes A/S, B Shares (Specialty Chemicals) | 693 | ||||||
Finland — 0.12% | ||||||||
8,813 | Neste Oil Oyj (Oil, Gas & Consumable Fuels) | 214 | ||||||
35,822 | Stora Enso Oyj, R Shares (Paper & Forest Products) | 320 |
See accompanying notes to financial statements.
56
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Finland (continued) | ||||||||
35,847 | UPM-Kymmene Oyj (Paper & Forest Products) | $ | 588 | |||||
1,122 | ||||||||
France — 1.54% | ||||||||
23,687 | Air Liquide SA (Chemicals) | 2,931 | ||||||
4,237 | Arkema SA (Chemicals) | 280 | ||||||
2,292 | Imerys SA (Construction Materials) | 169 | ||||||
12,840 | Lafarge SA (Construction Materials) | 901 | ||||||
65,083 | Technip SA (Energy Equipment & Services) | 3,876 | ||||||
112,721 | Total SA (Oil, Gas & Consumable Fuels) | 5,774 | ||||||
13,931 | ||||||||
Germany — 1.13% | ||||||||
63,138 | BASF SE (Chemicals) | 5,294 | ||||||
9,545 | HeidelbergCement AG (Construction Materials) | 674 | ||||||
11,229 | K+S AG – Registered (Chemicals) | 310 | ||||||
6,226 | Lanxess AG (Chemicals) | 288 | ||||||
12,768 | Linde AG (Chemicals) | 2,352 | ||||||
8,464 | Symrise AG (Chemicals) | 510 | ||||||
31,123 | ThyssenKrupp AG (Metals & Mining) (a) | 793 | ||||||
10,221 | ||||||||
Greece — 0.01% | ||||||||
3,179 | Titan Cement Co. SA (Construction Materials) | 74 | ||||||
Hong Kong — 0.51% | ||||||||
1,227,302 | CNOOC Ltd. (Oil, Gas & Consumable Fuels) | 1,660 | ||||||
113,000 | Fosun International Ltd. (Metals & Mining) | 147 | ||||||
9,036,000 | Minmetals Resources Ltd. (Diversified Metals & Mining) | 2,783 | ||||||
4,590 | ||||||||
Hungary — 0.01% | ||||||||
2,622 | MOL Hungarian Oil & Gas PLC (Oil, Gas & Consumable Fuels) | 115 | ||||||
India — 0.18% | ||||||||
43,434 | Reliance Industries Ltd., GDR (Oil, Gas & Consumable Fuels) (b) | 1,227 | ||||||
18,460 | Sesa Sterlite Ltd., ADR (Metals & Mining) | 250 | ||||||
19,038 | Tata Steel Ltd., Registered Shares, GDR (Metals & Mining) | 119 | ||||||
1,596 | ||||||||
Indonesia — 0.07% | ||||||||
873,600 | PT Adaro Energy Tbk (Oil, Gas & Consumable Fuels) | 73 | ||||||
21,200 | PT Indo Tambangraya Megah Tbk (Oil, Gas & Consumable Fuels) | 26 | ||||||
101,600 | PT Indocement Tunggal Prakarsa Tbk (Construction Materials) | 205 | ||||||
198,000 | PT Semen Gresik (Persero) Tbk (Construction Materials) | 259 |
Shares | Security Description | Value (000) | ||||||
Indonesia (continued) | ||||||||
43,700 | PT Tambang Batubara Bukit Asam Tbk (Oil, Gas & Consumable Fuels) | $ | 44 | |||||
607 | ||||||||
Ireland — 0.10% | ||||||||
36,868 | CRH PLC (Construction Materials) | 886 | ||||||
Israel — 0.04% | ||||||||
305 | Delek Group Ltd. (Oil, Gas & Consumable Fuels) | 77 | ||||||
29,752 | Israel Chemicals Ltd. (Chemicals) | 214 | ||||||
200 | The Israel Corp. Ltd. (Chemicals) (a) | 95 | ||||||
386 | ||||||||
Italy — 0.86% | ||||||||
434,382 | Eni SpA (Oil, Gas & Consumable Fuels) | 7,608 | ||||||
18,162 | Saipem SpA (Energy Equipment & Services) (a) | 190 | ||||||
7,798 | ||||||||
Japan — 2.67% | ||||||||
9,000 | Air Water, Inc. (Chemicals) | 143 | ||||||
87,000 | Asahi Kasei Corp. (Chemicals) | 794 | ||||||
19,000 | Daicel Corp. (Chemicals) | 222 | ||||||
7,200 | Hitachi Chemical Co. Ltd. (Chemicals) | 127 | ||||||
14,000 | Hitachi Metals Ltd. (Metals & Mining) | 238 | ||||||
5,800 | Idemitsu Kosan Co. Ltd. (Oil, Gas & Consumable Fuels) | 96 | ||||||
57,700 | INPEX Corp. (Oil, Gas & Consumable Fuels) | 642 | ||||||
33,200 | JFE Holdings, Inc. (Metals & Mining) | 741 | ||||||
183,200 | JSR Corp. (Chemicals) | 3,144 | ||||||
155,344 | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | 605 | ||||||
17,000 | Kaneka Corp. (Chemicals) | 91 | ||||||
16,000 | Kansai Paint Co. Ltd. (Chemicals) | 248 | ||||||
209,000 | Kobe Steel Ltd. (Metals & Mining) | 360 | ||||||
138,800 | Komatsu Ltd. (Machinery) | 3,069 | ||||||
22,100 | Kuraray Co. Ltd. (Chemicals) | 251 | ||||||
3,000 | Maruichi Steel Tube Ltd. (Metals & Mining) | 64 | ||||||
94,000 | Mitsubishi Chemical Holdings Corp. (Chemicals) | 456 | ||||||
27,000 | Mitsubishi Gas Chemical Co., Inc. (Chemicals) | 136 | ||||||
73,000 | Mitsubishi Materials Corp. (Metals & Mining) | 242 | ||||||
57,000 | Mitsui Chemicals, Inc. (Chemicals) | 161 | ||||||
12,000 | Nippon Paint Holdings Co. Ltd. (Chemicals) | 348 | ||||||
2,631,082 | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) | 6,528 | ||||||
10,600 | Nitto Denko Corp. (Chemicals) | 592 | ||||||
53,000 | Oji Paper Co. Ltd. (Paper & Forest Products) | 190 | ||||||
28,215 | Shin-Etsu Chemical Co. Ltd. (Chemicals) | 1,837 |
See accompanying notes to financial statements.
57
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
13,100 | Showa Shell Sekiyu K.K. (Oil, Gas & Consumable Fuels) ˆ | $ | 129 | |||||
96,000 | Sumitomo Chemical Co. Ltd. (Chemicals) | 378 | ||||||
36,000 | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | 537 | ||||||
77,000 | Taiheiyo Cement Corp. (Construction Materials) | 242 | ||||||
9,000 | Taiyo Nippon Sanso Corp. (Chemicals) | 99 | ||||||
65,000 | Teijin Ltd. (Chemicals) | 173 | ||||||
20,000 | TonenGeneral Sekiyu K.K. (Oil, Gas & Consumable Fuels) | 171 | ||||||
101,000 | Toray Industries, Inc. (Chemicals) | 807 | ||||||
11,200 | Toyo Seikan Kaisha Ltd. (Containers & Packaging) | 139 | ||||||
2,400 | Yamato Kogyo Co. Ltd. (Metals & Mining) | 67 | ||||||
24,067 | ||||||||
Jersey — 0.44% | ||||||||
729,817 | Glencore International PLC (Metals & Mining) | 3,368 | ||||||
16,915 | Petrofac Ltd. (Energy Equipment & Services) | 184 | ||||||
5,978 | Randgold Resources Ltd. (Metals & Mining) | 406 | ||||||
3,958 | ||||||||
Luxembourg — 0.16% | ||||||||
68,690 | ArcelorMittal (Metals & Mining) | 753 | ||||||
18,257 | Subsea 7 SA (Energy Equipment & Services) | 187 | ||||||
32,704 | Tenaris SA (Energy Equipment & Services) | 494 | ||||||
1,434 | ||||||||
Malaysia — 0.07% | ||||||||
85,350 | Bumi Armada Berhad (Energy Equipment & Services) | 27 | ||||||
23,700 | Lafarge Malayan Cement Berhad (Construction Materials) | 66 | ||||||
191,800 | Petronas Chemicals Group Berhad (Chemicals) | 299 | ||||||
14,400 | Petronas Dagangan Berhad (Oil, Gas & Consumable Fuels) | 71 | ||||||
234,000 | SapuraKencana Petroleum Berhad (Energy Equipment & Services) | 154 | ||||||
617 | ||||||||
Mexico — 0.23% | ||||||||
834,584 | Cemex SAB de CV (Construction Materials) (a) | 851 | ||||||
262,234 | Grupo Mexico SAB de CV, Series B (Metals & Mining) | 761 | ||||||
8,724 | Industrias Penoles SAB de CV (Metals & Mining) | 171 | ||||||
64,932 | Mexichem SAB de CV (Chemicals) (a) | 197 |
Shares | Security Description | Value (000) | ||||||
Mexico (continued) | ||||||||
34,300 | Minera Frisco SAB de CV, Class – A1 (Metals & Mining) (a) | $ | 50 | |||||
2,030 | ||||||||
Mongolia — 0.37% | ||||||||
75,619,300 | Mongolian Mining Corp. (Metals & Mining) (a) | 3,316 | ||||||
Netherlands — 0.96% | ||||||||
16,679 | Akzo Nobel NV (Chemicals) | 1,154 | ||||||
2,989 | Core Laboratories NV (Energy Equipment & Services) | 360 | ||||||
11,848 | Koninklijke DSM NV (Chemicals) | 723 | ||||||
4,533 | Koninklijke Vopak NV (Oil, Gas & Consumable Fuels) | 235 | ||||||
77,755 | LyondellBasell Industries NV, Class A (Chemicals) | 6,172 | ||||||
8,644 | ||||||||
New Zealand — 0.03% | ||||||||
44,720 | Fletcher Building Ltd. (Construction Materials) | 288 | ||||||
Norway — 0.86% | ||||||||
567,075 | DNO International ASA (Oil, Gas & Consumable Fuels) ˆ (a) | 1,201 | ||||||
91,081 | Norsk Hydro ASA (Metals & Mining) | 513 | ||||||
315,061 | Statoil ASA (Oil, Gas & Consumable Fuels) | 5,551 | ||||||
11,808 | Yara International ASA (Chemicals) | 526 | ||||||
7,791 | ||||||||
Papua New Guinea — 0.10% | ||||||||
145,385 | Oil Search Ltd. (Oil, Gas & Consumable Fuels) | 932 | ||||||
Peru — 0.01% | ||||||||
13,100 | Compania de Minas Buenaventura SA, ADR (Metals & Mining) | 125 | ||||||
Poland — 0.10% | ||||||||
3,409 | Grupa Azoty SA (Chemicals) | 61 | ||||||
6,354 | Grupa Lotos SA (Oil, Gas & Consumable Fuels) (a) | 46 | ||||||
9,645 | KGHM Polska Miedz SA (Metals & Mining) | 294 | ||||||
20,928 | Polski Koncern Naftowy Orlen SA (Oil, Gas & Consumable Fuels) | 286 | ||||||
122,329 | Polskie Gornictwo Naftowe i Gazownictwo SA (Oil, Gas & Consumable Fuels) | 153 | ||||||
28,195 | Synthos SA (Chemicals) | 33 | ||||||
873 | ||||||||
Portugal — 0.34% | ||||||||
297,660 | Galp Energia SGPS SA, B Shares (Oil, Gas & Consumable Fuels) | 3,022 | ||||||
Qatar — 0.01% | ||||||||
3,145 | Gulf International Services QSC (Oil, Gas & Consumable Fuels) | 84 |
See accompanying notes to financial statements.
58
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Russia — 0.61% | ||||||||
391,088 | Gazprom OAO, GDR (Oil, Gas & Consumable Fuels) | $ | 1,771 | |||||
27,570 | LUKOIL, ADR (Oil, Gas & Consumable Fuels) | 1,091 | ||||||
7,136 | LUKOIL OAO, ADR (Oil, Gas & Consumable Fuels) | 274 | ||||||
37,788 | Mining & Metallurgical Co. Norilsk Nickel OJSC, ADR (Metals & Mining) | 522 | ||||||
1,347 | Novatek OAO, GDR (Oil, Gas & Consumable Fuels) | 105 | ||||||
4,915 | NovaTek OAO, Registered Shares, GDR (Oil, Gas & Consumable Fuels) | 383 | ||||||
15,150 | Rosneft Oil Co. OJSC, Registered Shares, GDR (Oil, Gas & Consumable Fuels) | 53 | ||||||
54,591 | Rosneft Oil Co. OJSC, Registered Shares, GDR (Oil, Gas & Consumable Fuels) | 190 | ||||||
2,600 | Severstal, Registered Shares, GDR (Metals & Mining) | 24 | ||||||
10,548 | Severstal, Registered Shares, GDR (Metals & Mining) | 96 | ||||||
78,066 | Surgutneftegas, ADR (Oil, Gas & Consumable Fuels) | 324 | ||||||
4,200 | Tatneft OAO, ADR (Oil, Gas & Consumable Fuels) | 103 | ||||||
11,653 | Tatneft OAO, Registered Shares, ADR (Oil, Gas & Consumable Fuels) | 286 | ||||||
20,812 | Uralkali, Registered Shares, GDR (Chemicals) | 245 | ||||||
5,467 | ||||||||
South Africa — 0.32% | ||||||||
6,533 | African Rainbow Minerals Ltd. (Metals & Mining) | 67 | ||||||
3,842 | Anglo Platinum Ltd. (Metals & Mining) (a) | 113 | ||||||
27,657 | AngloGold Ashanti Ltd. (Metals & Mining) (a) | 243 | ||||||
1,665 | Assore Ltd. (Metals & Mining) | 21 | ||||||
9,847 | Exxaro Resources Ltd. (Oil, Gas & Consumable Fuels) | 88 | ||||||
50,150 | Gold Fields Ltd. (Metals & Mining) | 227 | ||||||
34,929 | Impala Platinum Holdings Ltd. (Metals & Mining) (a) | 228 | ||||||
4,703 | Kumba Iron Ore Ltd. (Metals & Mining) | 97 | ||||||
41,221 | Nampak Ltd. (Containers & Packaging) | 155 | ||||||
38,232 | PPC Ltd. (Construction Materials) | 91 | ||||||
37,556 | Sappi Ltd. (Paper & Forest Products) (a) | 136 | ||||||
38,017 | Sasol Ltd. (Oil, Gas & Consumable Fuels) | 1,420 | ||||||
2,886 | ||||||||
South Korea — 0.36% | ||||||||
3,565 | GS Holdings Corp. (Oil, Gas & Consumable Fuels) | 130 | ||||||
7,450 | Hanwha Chemical Corp. (Chemicals) | 79 | ||||||
3,092 | Hanwha Corp. (Chemicals) | 87 | ||||||
1,036 | Honam Petrochemical Corp. (Chemicals) | 149 | ||||||
1,478 | Hyosung Corp. (Chemicals) | 92 |
Shares | Security Description | Value (000) | ||||||
South Korea (continued) | ||||||||
4,819 | Hyundai Steel Co. (Metals & Mining) | $ | 276 | |||||
786 | Korea Kumho Petrochemical Co. Ltd. (Chemicals) | 57 | ||||||
585 | Korea Zinc Co. Ltd. (Metals & Mining) | 214 | ||||||
3,142 | LG Chem Ltd. (Chemicals) | 515 | ||||||
1,008 | OCI Co. Ltd. (Chemicals) (a) | 71 | ||||||
4,495 | POSCO (Metals & Mining) | 1,133 | ||||||
3,916 | SK Innovation Co. Ltd. (Oil, Gas & Consumable Fuels) | 301 | ||||||
3,096 | S-Oil Corp. (Oil, Gas & Consumable Fuels) | 136 | ||||||
3,240 | ||||||||
Spain — 0.15% | ||||||||
8,357 | Cemex Latam Holdings SA (Construction Materials) (a) | 56 | ||||||
69,616 | Repsol YPF SA (Oil, Gas & Consumable Fuels) | 1,303 | ||||||
1,359 | ||||||||
Sweden — 0.83% | ||||||||
456,721 | Boliden AB (Metals & Mining) | 7,305 | ||||||
14,506 | Lundin Petroleum AB (Oil, Gas & Consumable Fuels) (a) | 208 | ||||||
7,513 | ||||||||
Switzerland — 0.67% | ||||||||
546 | EMS-Chemie Holding AG – Registered (Chemicals) | 221 | ||||||
635 | Givaudan SA – Registered (Chemicals) | 1,139 | ||||||
15,739 | Holcim Ltd. – Registered (Construction Materials) | 1,125 | ||||||
146 | Sika AG (Chemicals) | 431 | ||||||
6,389 | Syngenta AG, Registered Shares (Chemicals) | 2,056 | ||||||
24,563 | Transocean Ltd. (Energy Equipment & Services) ˆ | 451 | ||||||
54,500 | Weatherford International PLC (Energy Equipment & Services) (a) | 624 | ||||||
6,047 | ||||||||
Taiwan — 0.35% | ||||||||
151,082 | Asia Cement Corp. (Construction Materials) | 186 | ||||||
799,376 | China Steel Corp. (Metals & Mining) | 663 | ||||||
224,000 | Formosa Chemicals & Fibre Corp. (Chemicals) | 472 | ||||||
79,000 | Formosa Petrochemical Corp. (Oil, Gas & Consumable Fuels) | 171 | ||||||
280,160 | Formosa Plastics Corp. (Chemicals) | 639 | ||||||
313,010 | Nan Ya Plastics Corp. (Chemicals) | 646 | ||||||
216,000 | Taiwan Cement Corp. (Construction Materials) | 295 | ||||||
54,000 | Taiwan Fertilizer Co. Ltd. (Chemicals) | 95 | ||||||
30,450 | TSRC Corp. (Chemicals) | 33 | ||||||
3,200 | ||||||||
Thailand — 0.19% | ||||||||
62,500 | Banpu Public Co. Ltd., Foreign Registered Shares (Oil, Gas & Consumable Fuels) | 47 |
See accompanying notes to financial statements.
59
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Thailand (continued) | ||||||||
62,400 | Energy Absolute Public Co. Ltd. – NVDR (Oil, Gas & Consumable Fuels) | $ | 47 | |||||
26,400 | Indorama Ventures Public Co. Ltd. (Chemicals) | 16 | ||||||
467,400 | IRPC Public Co. Ltd. – NVDR (Oil, Gas & Consumable Fuels) | 43 | ||||||
81,204 | PTT Exploration & Production Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 275 | ||||||
98,355 | PTT Global Chemical Public Co. Ltd. (Chemicals) | 153 | ||||||
69,600 | PTT Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 683 | ||||||
48,700 | Thai Oil Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 62 | ||||||
7,400 | The Siam Cement Public Co. Ltd. (Construction Materials) | 100 | ||||||
20,000 | The Siam Cement Public Co. Ltd. – Foreign Registered Shares (Construction Materials) | 273 | ||||||
1,699 | ||||||||
Turkey — 0.04% | ||||||||
87,794 | Eregli Demir ve Celik Fabrikalari TAS (Metals & Mining) | 167 | ||||||
23,296 | Petkim Petrokimya Holding AS (Chemicals) | 39 | ||||||
7,852 | Tupras-Turkiye Petrol Rafinerileri A/S (Oil, Gas & Consumable Fuels) | 187 | ||||||
393 | ||||||||
United Kingdom — 11.59% | ||||||||
25,136 | AMEC PLC (Energy Equipment & Services) | 332 | ||||||
335,810 | Anglo American PLC (Metals & Mining) | 6,213 | ||||||
25,612 | Antofagasta PLC (Metals & Mining) | 298 | ||||||
1,407,021 | BG Group PLC (Oil, Gas & Consumable Fuels) | 18,826 | ||||||
586,363 | BHP Billiton PLC (Metals & Mining) | 12,565 | ||||||
1,405,490 | BP PLC (Oil, Gas & Consumable Fuels) | 8,920 | ||||||
8,891 | Croda International PLC (Chemicals) | 367 | ||||||
16,677 | Ensco PLC, ADR (Energy Equipment & Services) | 499 | ||||||
13,922 | Fresnillo PLC (Metals & Mining) | 165 | ||||||
13,878 | Johnson Matthey PLC (Chemicals) | 730 | ||||||
18,400 | Noble Corp. PLC (Energy Equipment & Services) | 305 | ||||||
995,268 | Ophir Energy PLC (Oil, Gas & Consumable Fuels) (a) | 2,187 | ||||||
48,253 | Rexam PLC (Containers & Packaging) | 340 | ||||||
368,574 | Rio Tinto PLC (Metals & Mining) | 16,989 | ||||||
692,612 | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | 23,111 | ||||||
167,759 | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | 5,796 | ||||||
498,874 | Tullow Oil PLC (Oil, Gas & Consumable Fuels) | 3,215 |
Shares | Security Description | Value (000) | ||||||
United Kingdom (continued) | ||||||||
407,146 | Vedanta Resources PLC (Diversified Metals & Mining) | $ | 3,611 | |||||
104,469 | ||||||||
United States — 23.96% | ||||||||
14,636 | Air Products & Chemicals, Inc. (Chemicals) | 2,111 | ||||||
4,825 | Airgas, Inc. (Chemicals) | 556 | ||||||
5,678 | Albemarle Corp. (Chemicals) | 341 | ||||||
80,824 | Alcoa, Inc. (Metals & Mining) | 1,276 | ||||||
63,415 | Anadarko Petroleum Corp. (Oil, Gas & Consumable Fuels) | 5,232 | ||||||
4,000 | Antero Resources Corp. (Oil, Gas & Consumable Fuels) (a) | 162 | ||||||
120,604 | Apache Corp. (Oil, Gas & Consumable Fuels) | 7,558 | ||||||
5,300 | Ashland, Inc. (Chemicals) | 635 | ||||||
6,400 | Avery Dennison Corp. (Containers & Packaging) | 332 | ||||||
80,125 | Baker Hughes, Inc. (Energy Equipment & Services) | 4,493 | ||||||
9,000 | Ball Corp. (Containers & Packaging) | 614 | ||||||
81,193 | Cabot Oil & Gas Corp. (Oil, Gas & Consumable Fuels) | 2,404 | ||||||
71,450 | Cameron International Corp. (Energy Equipment & Services) (a) | 3,569 | ||||||
72,252 | Caterpillar, Inc. (Machinery) | 6,613 | ||||||
11,000 | Celanese Corp., Series A (Chemicals) | 660 | ||||||
3,445 | CF Industries Holdings, Inc. (Chemicals) | 939 | ||||||
36,646 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 717 | ||||||
148,481 | Chevron Corp. (Oil, Gas & Consumable Fuels) | 16,657 | ||||||
27,525 | Cimarex Energy Co. (Oil, Gas & Consumable Fuels) | 2,918 | ||||||
249,216 | Cobalt International Energy, Inc. (Oil, Gas & Consumable Fuels) (a) | 2,216 | ||||||
7,800 | Concho Resources, Inc. (Oil, Gas & Consumable Fuels) (a) | 778 | ||||||
222,319 | ConocoPhillips (Oil, Gas & Consumable Fuels) | 15,353 | ||||||
16,300 | CONSOL Energy, Inc. (Oil, Gas & Consumable Fuels) | 551 | ||||||
6,838 | Continental Resources, Inc. (Oil, Gas & Consumable Fuels) (a) | 262 | ||||||
9,900 | Crown Holdings, Inc. (Metal & Glass Containers) (a) | 504 | ||||||
23,800 | Denbury Resources, Inc. (Oil, Gas & Consumable Fuels) | 193 | ||||||
26,691 | Devon Energy Corp. (Oil, Gas & Consumable Fuels) | 1,634 | ||||||
4,830 | Diamond Offshore Drilling, Inc. (Energy Equipment & Services) ˆ | 177 | ||||||
63,286 | E.I. du Pont de Nemours & Co. (Chemicals) | 4,679 | ||||||
10,256 | Eastman Chemical Co. (Chemicals) | 778 | ||||||
18,536 | Ecolab, Inc. (Chemicals) | 1,937 |
See accompanying notes to financial statements.
60
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United States (continued) | ||||||||
50,385 | Energen Corp. (Oil, Gas & Consumable Fuels) | $ | 3,213 | |||||
62,916 | EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | 5,793 | ||||||
10,438 | EQT Corp. (Oil, Gas & Consumable Fuels) | 790 | ||||||
276,180 | Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | 25,533 | ||||||
67,664 | First Solar, Inc. (Semiconductors & Semiconductor Equipment) (a) | 3,017 | ||||||
9,462 | FMC Corp. (Chemicals) | 540 | ||||||
16,100 | FMC Technologies, Inc. (Energy Equipment & Services) (a) | 754 | ||||||
71,417 | Freeport-McMoRan Copper & Gold, Inc. (Metals & Mining) | 1,669 | ||||||
181,177 | Halliburton Co. (Energy Equipment & Services) | 7,125 | ||||||
7,700 | Helmerich & Payne, Inc. (Energy Equipment & Services) | 519 | ||||||
19,048 | Hess Corp. (Oil, Gas & Consumable Fuels) | 1,406 | ||||||
12,872 | HollyFrontier Corp. (Oil, Gas & Consumable Fuels) | 482 | ||||||
5,600 | International Flavors & Fragrances, Inc. (Chemicals) | 568 | ||||||
27,900 | International Paper Co. (Paper Products) | 1,495 | ||||||
368,805 | KBR, Inc. (Construction & Engineering) | 6,251 | ||||||
288,746 | Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | 12,218 | ||||||
46,334 | Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | 1,311 | ||||||
19,483 | Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | 1,759 | ||||||
3,928 | Martin Marietta Materials, Inc. (Construction Materials) | 433 | ||||||
11,600 | MeadWestvaco Corp. (Containers & Packaging) | 515 | ||||||
36,070 | Monsanto Co. (Chemicals) | 4,309 | ||||||
11,600 | Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | 586 | ||||||
29,558 | National Oilwell Varco, Inc. (Energy Equipment & Services) | 1,937 | ||||||
33,875 | Newmont Mining Corp. (Metals & Mining) | 640 | ||||||
24,820 | Noble Energy, Inc. (Oil, Gas & Consumable Fuels) | 1,177 | ||||||
21,900 | Nucor Corp. (Metals & Mining) | 1,074 | ||||||
53,610 | Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | 4,322 | ||||||
7,358 | Oceaneering International, Inc. (Energy Equipment & Services) | 433 | ||||||
14,300 | ONEOK, Inc. (Oil, Gas & Consumable Fuels) | 712 | ||||||
11,900 | Owens-Illinois, Inc. (Containers & Packaging) (a) | 321 | ||||||
38,381 | Phillips 66 (Oil, Gas & Consumable Fuels) | 2,752 |
Shares | Security Description | Value (000) | ||||||
United States (continued) | �� | |||||||
22,042 | Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | $ | 3,281 | |||||
9,518 | PPG Industries, Inc. (Chemicals) | 2,200 | ||||||
20,050 | Praxair, Inc. (Chemicals) | 2,598 | ||||||
12,600 | QEP Resources, Inc. (Oil, Gas & Consumable Fuels) | 255 | ||||||
11,929 | Range Resources Corp. (Oil, Gas & Consumable Fuels) | 638 | ||||||
9,800 | Rock-Tenn Co., Class A (Containers & Packaging) | 598 | ||||||
13,700 | Sealed Air Corp. (Containers & Packaging) | 581 | ||||||
8,200 | Sigma-Aldrich Corp. (Chemicals) | 1,126 | ||||||
10,860 | Southern Copper Corp. (Metals & Mining) | 306 | ||||||
24,269 | Southwestern Energy Co. (Oil, Gas & Consumable Fuels) (a) | 662 | ||||||
46,078 | Spectra Energy Corp. (Oil, Gas & Consumable Fuels) | 1,673 | ||||||
10,259 | Superior Energy Services, Inc. (Energy Equipment & Services) | 207 | ||||||
9,000 | Tesoro Corp. (Oil, Gas & Consumable Fuels) | 669 | ||||||
82,133 | The Dow Chemical Co. (Chemicals) | 3,747 | ||||||
158,509 | The Mosaic Co. (Chemicals) | 7,236 | ||||||
5,751 | The Sherwin-Williams Co. (Chemicals) | 1,513 | ||||||
48,778 | The Williams Cos., Inc. (Oil, Gas & Consumable Fuels) | 2,192 | ||||||
36,300 | Valero Energy Corp. (Oil, Gas & Consumable Fuels) | 1,797 | ||||||
9,000 | Vulcan Materials Co. (Construction Materials) | 592 | ||||||
3,300 | Westlake Chemical Corp. (Chemicals) | 202 | ||||||
104,626 | Whiting Petroleum Corp. (Oil, Gas & Consumable Fuels) (a) | 3,453 | ||||||
216,029 | ||||||||
Total Common Stocks | 563,884 | |||||||
Preferred Stocks — 0.49% | ||||||||
Brazil — 0.41% | ||||||||
15,800 | Bradespar SA – Preferred (Metals & Mining) | 85 | ||||||
10,700 | Braskem SA – Preferred, Class – A (Chemicals) | 70 | ||||||
55,900 | Gerdau SA – Preferred (Metals & Mining) | 202 | ||||||
140,400 | Klabin SA – Preferred (Containers & Packaging) | 152 | ||||||
16,000 | Metalurgica Gerdau SA – Preferred (Metals & Mining) | 68 | ||||||
131,509 | Petroleo Brasileiro SA – Preferred, ADR (Oil, Gas & Consumable Fuels) | 997 | ||||||
288,775 | Petroleo Brasileiro SA – Preferred (Oil, Gas & Consumable Fuels) | 1,089 | ||||||
23,200 | Suzano Papel e Celulose SA – Preferred, Class – A (Paper & Forest Products) | 98 | ||||||
26,187 | Usinas Siderurgicas de Minas Gerais SA – Preferred, Class – A (Metals & Mining) (a) | 50 | ||||||
132,404 | Vale SA – Preferred (Metals & Mining) | 958 | ||||||
3,769 |
See accompanying notes to financial statements.
61
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Preferred Stocks (continued) | ||||||||
Chile — 0.02% | ||||||||
$6,657 | Sociedad Quimica y Minera de Chile SA – Preferred, B Shares (Chemicals) | $ | 162 | |||||
Colombia — 0.01% | ||||||||
6,462 | Grupo Argos SA – Preferred (Construction Materials) | 54 | ||||||
Germany — 0.02% | ||||||||
4,921 | Fuchs Petrolub AG – Preferred (Chemicals) | 196 | ||||||
Russia — 0.02% | ||||||||
98 | AK Transneft OAO – Preferred (Oil, Gas & Consumable Fuels) (c) | 204 | ||||||
South Korea — 0.01% | ||||||||
451 | LG Chem Ltd. – Preferred (Chemicals) | 58 | ||||||
Total Preferred Stocks | 4,443 | |||||||
Right — 0.00% | ||||||||
Spain — 0.00% | ||||||||
66,597 | Repsol SA (Oil, Gas & Consumable Fuels) (a) | 37 | ||||||
Total Right | 37 | |||||||
Commercial Paper — 0.14% | ||||||||
United Kingdom — 0.14% | ||||||||
1,300 | Tesco Treasury Services PLC, 1.00%, 8/18/15 (d)(f) | 1,277 | ||||||
Total Commercial Paper | 1,277 | |||||||
Corporate Bonds — 1.56% | ||||||||
2,100 | AT&T, Inc., 0.68%, 3/30/17 (Diversified Telecommunication Services) (e) | 2,098 | ||||||
2,100 | Citigroup, Inc., 0.75%, 5/1/17(Banks) (e) | 2,095 | ||||||
3,000 | Ford Motor Credit Co. LLC, 0.76%, 9/8/17 (Diversified Financial Services) (e) | 2,979 | ||||||
2,100 | Goldman Sachs Group, Inc., 0.86%, 6/4/17 (Capital Markets) (e) | 2,096 | ||||||
2,100 | International Lease Finance Corp., 5.75%, 5/15/16 (Trading Companies & Distributors) | 2,179 | ||||||
900 | New York Life Global Funding, 2.10%, 1/2/19 (Insurance) (f) | 903 | ||||||
186 | Overseas Private Investment Corp., 4.73%, 3/15/22 (Sovereign) | 205 | ||||||
300 | SLM Corp., 6.25%, 1/25/16 (Consumer Finance) | 312 | ||||||
1,200 | Verizon Communications, Inc., 1.77%, 9/15/16 (Diversified Telecommunication Services) (e) | 1,222 | ||||||
Total Corporate Bonds | 14,089 | |||||||
Asset Backed Securities — 0.64% | ||||||||
400 | ACA CLO Ltd., Series 2006-2A, Class A1, 0.48%, 1/20/21 (e)(f) | 399 | ||||||
662 | Atrium CDO Corp., Series 5A, Class A1, 0.48%, 7/20/20 (e)(f) | 660 | ||||||
360 | Commercial Industrial Finance Corp., Series 2007-1AL, Class A1L, 0.49%, 5/10/21 (e)(f) | 357 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Asset Backed Securities (continued) | ||||||||
$268 | Fore CLO Ltd., Series 2007-1AB, Class A1B, 0.48%, 7/20/19 (e)(f) | $ | 266 | |||||
225 | Four Corners CLO Ltd., Series 2006-2A, Class A, 0.50%, 1/26/20 (e)(f) | 223 | ||||||
347 | First Franklin Mortgage Loan Asset Backed Certificates, Series 2005-FF11D, Class A2D, 0.85%, 11/25/35 (e) | 338 | ||||||
250 | First Franklin Mortgage Loan Asset Backed Certificates, Series 2005-FF2, Class M3, 0.89%, 3/25/35 (e) | 248 | ||||||
300 | Gulf Stream Sextant CLO Ltd., Series 2006-1A, Class B, 0.63%, 8/21/20 (e)(f) | 299 | ||||||
1,100 | Household Home Equity Loan Trust, Series 2007-1, Class M2, 0.65%, 3/20/36 (e) | 1,034 | ||||||
400 | New Century Home Equity Loan Trust, Series 2005-3, Class M2, 0.66%, 7/25/35 (e) | 382 | ||||||
200 | Park Place Securities, Inc., Series 2005-WCW2, Class M1, 0.67%, 7/25/35 (e) | 197 | ||||||
1,004 | Race Point CLO Ltd., Series 2006-3, Class A, 0.49%, 4/15/20 (e)(f) | 1,000 | ||||||
403 | Structured Asset Investment Loan Trust, Series 2003-BC11, Class M1, 1.14%, 10/25/33 (e) | 384 | ||||||
Total Asset Backed Securities | 5,787 | |||||||
Collateralized Mortgage Obligations — 1.05% | ||||||||
300 | Ameriquest Mortgage Securities, Inc., Series 2005-R11, Class M1, 0.62%, 1/25/36 (e) | 273 | ||||||
61 | BCAP LLC Trust, Series 2011-R11, Class 30A5, 2.38%, 1/26/34 (e)(f) | 61 | ||||||
400 | Banc of America Commercial Mortgage, Inc., Series 2007-2, Class A4, 5.78%, 4/10/49 (e) | 428 | ||||||
1,522 | Banc of America Funding Corp., Series 2012-R5, Class A, 0.42%, 10/3/39 (e)(f) | 1,523 | ||||||
579 | Bear Stearns ALT-A Trust, Series 2007-8, Class 1A, 0.87%, 9/25/34 (e) | 561 | ||||||
265 | Countrywide Alternative Loan Trust, Series 2004-J7, Class 2A1, 0.94%, 9/25/34 (e) | 260 | ||||||
70 | Deutsche Mortgage Securities, Inc., Series 2010-RS2, Class A2, 3.82%, 6/28/47 (e)(f) | 70 | ||||||
701 | Freddie Mac, Series 2781, Class F1, 0.61%, 9/15/42 (e) | 706 | ||||||
2,682 | Fannie Mae, Series 2013-M4, Class X1, 4.08%, 2/25/18 (e) | 258 | ||||||
524 | Freddie Mac, Series 3096, Class FX, 0.61%, 5/15/32 (e) | 530 | ||||||
492 | Fannie Mae, Series 2006-98, Class FA, 0.60%, 10/25/36 (e) | 495 | ||||||
167 | Freddie Mac, Series 3179, Class FP, 0.54%, 7/15/36 (e) | 168 |
See accompanying notes to financial statements.
62
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Collateralized Mortgage Obligations (continued) | ||||||||
$200 | First Franklin Mortgage Loan Trust Asset Backed Certificates, Series 2005-FF6, Class M2, 0.61%, 5/25/36 (e) | $ | 179 | |||||
21 | GMAC Mortgage Corp. Loan Trust, Series 2004-AR1, Class 12A, 2.99%, 6/25/34 (e) | 21 | ||||||
200 | Long Beach Mortgage Loan Trust, Series 2005-2, Class M4, 1.10%, 4/25/35 (e) | 191 | ||||||
400 | Structured Asset Securities Corp., Series 2005-NC1, Class M2, 0.65%, 2/25/35 (e) | 372 | ||||||
235 | WaMu Mortgage Pass-Through Certificates, Series 2004-AR10, Class A3, 0.72%, 7/25/44 (e) | 218 | ||||||
350 | WaMu Mortgage Pass-Through Certificates, Series 2004-AR14, Class A1, 2.40%, 1/25/35 (e) | 352 | ||||||
61 | Granite Mortgages PLC, Series 2004-2, Class 2A1, 0.36%, 6/20/44 (e) | 74 | ||||||
559 | Hercules (Eclipse 2006-4) PLC, Series 2006-4, Class A, 0.80%, 10/25/18 (e) | 859 | ||||||
1,567 | Grecale SRL, Series 2011-1, Class A2, 0.71%, 1/27/61 (e) | 1,879 | ||||||
Total Collateralized Mortgage Obligations | 9,478 | |||||||
Certificates of Deposit — 1.28% | ||||||||
2,700 | Banco do Brasil NY, 1.21%, 6/29/15 (e) | 2,700 | ||||||
2,100 | China Construction Bank Corp., 1.70%, 4/16/15 | 2,106 | ||||||
2,520 | Credit Suisse NY, 0.44%, 1/12/15 (e) | 2,520 | ||||||
1,400 | Intesa Sanpaolo SpA, 1.65%, 4/7/15 | 1,403 | ||||||
2,800 | Itau Unibanco NY, 1.19%, 6/26/15 (e) | 2,800 | ||||||
Total Certificates of Deposit | 11,529 | |||||||
Global Bonds — 2.97% | ||||||||
Italy — 0.91% | ||||||||
599 | Buoni del Tesoro Poliennali, Series ICPI, 2.15%, 11/12/17 (g) | 751 | ||||||
400 | Buoni Poliennali del Tesoro, Series ICPI, 5.50%, 11/1/22 (g) | 622 | ||||||
200 | Italy Buoni Poliennali del Tesoro, Series ICPI, 2.55%, 10/22/16 (g) | 249 | ||||||
5,288 | Italy Buoni Poliennali del Tesoro, Series ICPI, 2.25%, 4/22/17 (g) | 6,608 | ||||||
8,230 | ||||||||
Mexico — 0.46% | ||||||||
1,582 | Mexican Udibonos, Series S, 4.50%, 12/4/25 (e)(g) | 126 | ||||||
21,872 | Mexican Udibonos, Series S, 4.50%, 11/22/35 (e)(g) | 1,779 | ||||||
12,702 | Mexican Udibonos, Series S, 4.00%, 11/15/40 (e)(g) | 969 | ||||||
16,865 | Mexican Udibonos, Series S, 4.00%, 11/8/46 (e)(g) | 1,306 | ||||||
4,180 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
New Zealand — 0.01% | ||||||||
$100 | New Zealand Index Linked Bond, 2.00%, 9/20/25 (g) | $ | 80 | |||||
Slovenia — 0.04% | ||||||||
300 | Republic of Slovenia, 4.70%, 11/1/16 (f)(g) | 388 | ||||||
Spain — 1.30% | ||||||||
100 | Bankia SA, 3.50%, 12/14/15 (g) | 124 | ||||||
100 | Bankia SA, 0.29%, 1/25/16 (e)(g) | 120 | ||||||
4,900 | Bonos y Obligaciones del Estado, 5.85%, 1/31/22 (g) | 7,813 | ||||||
1,300 | Generalitat de Catalunya, 4.95%, 2/11/20 (g) | 1,743 | ||||||
1,400 | Generalitat de Valencia, Series E, 4.90%, 3/17/20 (g) | 1,942 | ||||||
11,742 | ||||||||
United Kingdom — 0.05% | ||||||||
190 | LBG Capital No. 2 PLC, Series 21, 15.00%, 12/21/19 (g) | 406 | ||||||
United States — 0.20% | ||||||||
1,000 | JPMorgan Chase Bank NA, 5.38%, 9/28/16 (g) | 1,661 | ||||||
100 | JPMorgan Chase Bank NA, 4.37%, 11/30/21, Callable 11/14/16 @ 100 (e) | 127 | ||||||
1,788 | ||||||||
Total Global Bonds | 26,814 | |||||||
U.S. Government Agency Securities — 1.70% | ||||||||
200 | Federal Home Loan Bank, 0.09%, 5/18/15 (d) | 200 | ||||||
100 | Federal Home Loan Bank, 0.09%, 5/19/15 (d) | 100 | ||||||
2,800 | Federal Home Loan Bank, 0.13%, 9/2/15 | 2,798 | ||||||
1,500 | Federal Home Loan Bank, 0.03%, 3/13/15 (d) | 1,500 | ||||||
2,378 | Freddie Mac, 0.42%, 9/18/15 (h) | 2,380 | ||||||
8,400 | Freddie Mac, 0.09%, 5/6/15 (d) | 8,397 | ||||||
Total U.S. Government Agency Securities | 15,375 | |||||||
U.S. Treasury Obligations — 5.15% | ||||||||
440 | U.S. Treasury Bill, 0.00%, 1/2/15 (d) | 440 | ||||||
1,517 | U.S. Treasury Bill, 0.01%, 1/8/15 (d) | 1,517 | ||||||
130 | U.S. Treasury Bill, 0.11%, 3/5/15 (d)(h) | 130 | ||||||
1,753 | U.S. Treasury Bill, 0.02%, 3/12/15 (d)(h) | 1,753 | ||||||
1,460 | U.S. Treasury Bill, 0.02%, 3/26/15 (d)(h) | 1,460 | ||||||
3,221 | U.S. Treasury Bill, 0.03%, 4/16/15 (d)(h) | 3,221 | ||||||
360 | U.S. Treasury Bill, 0.04%, 4/30/15 (d)(h) | 360 | ||||||
3,974 | U.S. Treasury Bill, 0.05%, 5/14/15 (d)(h) | 3,973 | ||||||
1,034 | U.S. Treasury Bill, 0.06%, 5/21/15 (d)(h) | 1,034 | ||||||
2,920 | U.S. Treasury Bill, 0.06%, 5/28/15 (d)(h) | 2,919 | ||||||
122 | U.S. Treasury Inflation Index Note, 1.88%, 7/15/15 | 122 | ||||||
11,079 | U.S. Treasury Inflation Index Note, 0.13%, 4/15/16 | 11,046 | ||||||
7,498 | U.S. Treasury Inflation Index Note, 0.13%, 4/15/19 | 7,416 | ||||||
6,100 | U.S. Treasury Note, 2.13%, 12/31/21 | 6,159 |
See accompanying notes to financial statements.
63
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
U.S. Treasury Obligations (continued) | ||||||||
$103 | U.S. Treasury Inflation Index Note, 0.13%, 1/15/23 | $ | 99 | |||||
102 | U.S. Treasury Inflation Index Note, 0.38%, 7/15/23 | 101 | ||||||
1,800 | U.S. Treasury Note, 2.75%, 11/15/23 (h) | 1,895 | ||||||
430 | U.S. Treasury Inflation Index Note, 0.13%, 7/15/24 (h) | 414 | ||||||
504 | U.S. Treasury Inflation Index Bond, 2.38%, 1/15/25 (h) | 592 | ||||||
116 | U.S. Treasury Inflation Index Bond, 3.88%, 4/15/29 (h) | 165 | ||||||
1,426 | U.S. Treasury Inflation Index Bond, 1.38%, 2/15/44 | 1,614 | ||||||
Total U.S. Treasury Obligations | 46,430 | |||||||
Yankee Dollars — 1.82% | ||||||||
Australia — 0.31% | ||||||||
2,100 | Westpac Banking Corp., 0.56%, 5/19/17(Banks) (e) | 2,099 | ||||||
700 | Westpac Banking Corp., Series E, 1.85%, 11/26/18(Banks) (f) | 700 | ||||||
2,799 | ||||||||
Canada — 0.04% | ||||||||
400 | Canadian Natural Resources Ltd., 0.63%, 3/30/16 (Oil, Gas & Consumable Fuels) (e) | 399 | ||||||
Chile — 0.03% | ||||||||
300 | Empresa Nacional de Telecomunicaciones SA – Registered Shares, 4.88%, 10/30/24 (Wireless Telecommunication Services) | 305 | ||||||
Colombia — 0.05% | ||||||||
400 | Ecopetrol SA, 7.63%, 7/23/19 (Oil, Gas & Consumable Fuels) | 458 | ||||||
France — 0.43% | ||||||||
2,800 | BPCE SA, 0.87%, 6/17/17 (Banks) (e) | 2,804 | ||||||
1,000 | Dexia Credit Local SA NY, 1.25%, 10/18/16(Banks) (f) | 1,004 | ||||||
3,808 | ||||||||
Italy — 0.08% | ||||||||
700 | Intesa Sanpaolo SpA, 3.13%, 1/15/16 (Banks) | 711 | ||||||
Korea, Republic Of — 0.03% | ||||||||
300 | Export-Import Bank of Korea, 1.09%, 9/17/16(Banks) (e) | 301 | ||||||
Luxembourg — 0.03% | ||||||||
300 | Rosneft Finance SA, Series 6, 7.88%, 3/13/18 (Oil, Gas & Consumable Fuels) (f) | 277 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
U.S. Treasury Obligations (continued) | ||||||||
Netherlands — 0.38% | ||||||||
$1,400 | Deutsche Annington Finance BV, 3.20%, 10/2/17(Real Estate Management & Development) (f) | $ | 1,432 | |||||
2,000 | Rabobank Nederland NY, 0.56%, 4/28/17 (Banks) (e) | 1,998 | ||||||
3,430 | ||||||||
Norway — 0.10% | ||||||||
500 | Kommunalbanken AS, 0.63%, 3/27/17 (Sovereign) (e)(f) | 504 | ||||||
400 | Nordea Eiendomskreditt AS, 2.13%, 9/22/16 (Banks) (f) | 407 | ||||||
911 | ||||||||
Russian Federation — 0.07% | ||||||||
300 | Gazprom OAO, 9.25%, 4/23/19 (Oil, Gas & Consumable Fuels) (f) | 306 | ||||||
400 | Sberbank of Russia Via SB Capital SA, 5.18%, 6/28/19 (Banks) | 354 | ||||||
660 | ||||||||
Slovenia — 0.13% | ||||||||
200 | Republic of Slovenia – Registered Shares, 5.85%, 5/10/23 (Sovereign) | 226 | ||||||
900 | Republic of Slovenia – Registered Shares, 5.25%, 2/18/24 (Sovereign) | 989 | ||||||
1,215 | ||||||||
Switzerland — 0.05% | ||||||||
350 | UBS AG Stamford Connecticut, 7.63%, 8/17/22 (Banks) | 412 | ||||||
United Kingdom — 0.07% | ||||||||
600 | HBOS PLC, Series E, 0.96%, 9/30/16, Callable 3/30/15 @ 100 (Banks) (e) | 596 | ||||||
United States — 0.02% | ||||||||
2,100 | Navient LLC, Series E, 8.78%, 9/15/16 (Consumer Finance) | 143 | ||||||
Total Yankee Dollars | 16,425 | |||||||
Time Deposit — 1.61% | ||||||||
14,501 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/15 | 14,501 | ||||||
Total Time Deposit | 14,501 | |||||||
Mutual Funds — 1.02% | ||||||||
4,100 | ETFS Platinum Trust | 480 | ||||||
8,674,000 | SSgA Treasury Money Market Fund, 0.00% (i) | 8,674 | ||||||
Total Mutual Funds | 9,154 |
See accompanying notes to financial statements.
64
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Contracts, or Principal Amount (000) | Security Description | Value (000) | ||||||
Purchased Options — 0.0% | ||||||||
Total Purchased Options | $ | 31 | ||||||
Repurchase Agreements — 19.39% | ||||||||
$36,200 | Bank of America Corp., 0.06%, 1/2/15 (Purchased on 12/31/14, proceeds at maturity $36,200,121 collateralized by U.S. Treasury Bonds, 3.00% – 3.38%, 5/15/44 – 11/15/44 fair value $36,924,045) | 36,200 | ||||||
36,100 | BNP Paribas, 0.05%, 1/2/15, (Purchased on 12/31/14, proceeds at maturity $36,100,100 collateralized by U.S. Treasury Notes, 0.25% – 3.50%, 2/29/16 – 5/15/20 fair value $36,822,125) | 36,100 | ||||||
6,600 | BNP Paribas, 0.13%, 1/2/15, (Purchased on 12/31/14, proceeds at maturity $6,600,048 collateralized by U.S. Treasury Inflation Index Note, 0.13%, 1/15/23 fair value $6,759,745) | 6,600 | ||||||
3,100 | Credit Suisse Securities, 0.07%, 1/2/15 (Purchased on 12/31/14, proceeds at maturity $3,100,012 collateralized by U.S. Treasury Obligations, 0.38% – 4.50%, 4/15/15 – 2/15/36 fair value $3,165,479) | 3,100 | ||||||
36,300 | Deutsche Bank Securities, Inc., 0.10%, 1/2/15 (Purchased on 12/31/14, proceeds at maturity $36,300,202 collateralized by U.S. Treasury Obligations, 0.13% – 3.63%, 4/15/15 – 2/15/43 fair value $37,261,104) | 36,300 | ||||||
1,600 | Goldman Sachs & Co., 0.17%, 1/2/15 (Purchased on 12/31/14, proceeds at maturity $1,600,015 collateralized by Freddie Mac, 4.00%, 3/1/43 fair value $1,650,707) | 1,600 | ||||||
3,600 | JPMorgan Securities, 0.14%, 1/2/15 (Purchased on 12/31/14, proceeds at maturity $3,600,028 collateralized by U.S. Treasury Note, 1.88%, 6/30/15 fair value $3,683,374) | 3,600 | ||||||
6,600 | Merrill Lynch Pierce Fenner & Smith, Inc., 0.15%, 1/2/15 (Purchased on 12/31/14, proceeds at maturity $6,600,055 collateralized by U.S. Treasury Bond, 3.75%, 11/15/43 fair value $6,786,116) | 6,600 | ||||||
36,200 | Morgan Stanley & Co. LLC, 0.06%, 1/2/15 (Purchased on 12/31/14, proceeds at maturity $36,200,121 collateralized by U.S. Treasury Obligations, 0.00% – 7.63%, 4/30/15 – 5/15/43 fair value $36,924,097) | 36,200 |
Contracts, or Principal Amount (000) | Security Description | Value (000) | ||||||
Repurchase Agreements (continued) | ||||||||
$8,500 | Toronto Dominion Bank NY, 0.15%, 1/2/15 (Purchased on 12/31/14, proceeds at maturity $8,500,071 collateralized by U.S. Treasury Note, 1.25%, 1/31/19 fair value $8,729,065) | $ | 8,500 | |||||
Total Repurchase Agreements | $ | 174,800 | ||||||
Total Investments (cost $953,196) — 101.36% | 914,054 | |||||||
Liabilities in excess of other assets — (1.36%) | (12,257 ) | |||||||
Net Assets — 100.00% | $ | 901,797 |
Amounts designated as “—” are $0 or have been rounded to $0.
ˆ | All or part of this security was on loan as of December 31, 2014. The total value of securities on loan as of December 31, 2014, was $9,393 (amount in thousands). |
(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 0.14% of the Portfolio's net assets. |
(c) | These securities have been deemed illiquid by the Specialist Manager and represent 0.02% of the Portfolio. |
(d) | Rate disclosed represents effective yield at purchase. |
(e) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2014. |
(f) | 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. |
(g) | The principal amount is disclosed in local currency and the value is disclosed in U.S. Dollars. |
(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, 2014. |
ADR — American Depositary Receipt
GDR — Global Depositary Receipt
MTN — Medium Term Note
NVDR — Non-Voting Depository Receipt
See accompanying notes to financial statements.
65
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
The following table reflects the percentage of 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 Corporation | PIMCO | Wellington Management Company, LLP; Global National Resources Equity Strategy | Wellington Management Company, LLP; Commodity Futures Strategy | Total | |||||||||||||||
Common Stocks | 32.32 | % | — | 30.12 | % | 0.10 | % | 62.54 | % | |||||||||||
Preferred Stocks | 0.38 | % | — | 0.11 | % | — | 0.49 | % | ||||||||||||
Rights | — | — | 0.00 | % | — | 0.00 | % | |||||||||||||
Commercial Paper | — | 0.14 | % | — | — | 0.14 | % | |||||||||||||
Corporate Bonds | — | 1.56 | % | — | — | 1.56 | % | |||||||||||||
Asset Backed Securities | — | 0.64 | % | — | — | 0.64 | % | |||||||||||||
Collateralized Mortgage Obligations | — | 1.05 | % | — | — | 1.05 | % | |||||||||||||
Certificates of Deposit | — | 1.28 | % | — | — | 1.28 | % | |||||||||||||
Global Bonds | — | 2.97 | % | — | — | 2.97 | % | |||||||||||||
U.S. Government Agency Securities | — | 1.70 | % | — | — | 1.70 | % | |||||||||||||
U.S. Treasury Obligations | — | 5.15 | % | — | — | 5.15 | % | |||||||||||||
Yankee Dollars | — | 1.82 | % | — | — | 1.82 | % | |||||||||||||
Time Deposits | — | 0.11 | % | 1.50 | % | 0.00 | % | 1.61 | % | |||||||||||
Mutual Funds | 0.96 | % | — | — | 0.06 | % | 1.02 | % | ||||||||||||
Purchased Options | — | 0.00 | % | — | 0.00 | % | 0.00 | % | ||||||||||||
Repurchase Agreements | — | 2.98 | % | — | 16.41 | % | 19.39 | % | ||||||||||||
Other Assets | 0.44 | % | -2.86 | % | 0.22 | % | 0.84 | % | -1.36 | % | ||||||||||
Total Investments | 34.10 | % | 16.54 | % | 31.95 | % | 17.41 | % | 100.00 | % |
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2014.
Long/(Short) Futures
Number of Contracts | Futures Contracts Positionsˆ | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
— | 3.5% Fuel Oil RDAM Crack Swap Future* | $ | — | 12/31/14 | $ | — | ||||||||||
1 | Brent Crude Future* | 57 | 1/15/15 | (10 | ) | |||||||||||
66 | Brent Crude Future* | 3,842 | 2/12/15 | (209 | ) | |||||||||||
119 | Brent Crude Future* | 7,284 | 5/14/15 | (611 | ) | |||||||||||
40 | Brent Crude Future* | 2,618 | 11/13/15 | (274 | ) | |||||||||||
(7) | Brent Crude Future* | (482 | ) | 4/29/16 | 3 | |||||||||||
5 | Brent Crude Future* | 355 | 10/31/16 | 1 | ||||||||||||
(35) | Cocoa Future* | (1,019 | ) | 3/16/15 | (6 | ) | ||||||||||
(8) | Cocoa Future* | (247 | ) | 3/16/15 | 1 | |||||||||||
35 | Cocoa Future* | 1,012 | 5/13/15 | (15 | ) | |||||||||||
11 | Coffee ‘C’ Future* | 687 | 3/19/15 | (110 | ) | |||||||||||
(9) | Corn Future* | (179 | ) | 3/13/15 | (6 | ) | ||||||||||
111 | Corn Future* | 2,337 | 12/14/15 | 68 | ||||||||||||
108 | Cotton No. 2 Future* | 3,255 | 3/9/15 | (17 | ) | |||||||||||
107 | Electrolytic Copper Future* | 16,984 | 1/16/15 | (302 | ) | |||||||||||
6 | Electrolytic Copper Future* | 946 | 3/16/15 | (38 | ) | |||||||||||
(57) | Euro-Bund Future* | (10,750 | ) | 3/6/15 | (127 | ) | ||||||||||
— | European Gasoil Crack Spread Swap Future* | — | 12/31/14 | — | ||||||||||||
83 | Gas Oil Future* | 4,252 | 1/12/15 | (764 | ) | |||||||||||
49 | Gasoline RBOB Future* | 3,030 | 1/30/15 | (47 | ) | |||||||||||
10 | Gasoline RBOB Future* | 632 | 2/27/15 | (170 | ) | |||||||||||
(10) | Gasoline RBOB Future* | (724 | ) | 3/31/15 | 198 |
See accompanying notes to financial statements.
66
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Number of Contracts | Futures Contracts Positionsˆ | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
12 | Gasoline RBOB Future* | $ | 804 | 11/30/15 | $ | (381 | ) | |||||||||
(4) | Gold 100 Oz Future* | (474 | ) | 2/25/15 | (1 | ) | ||||||||||
291 | Gold 100 Oz Future* | 34,481 | 4/28/15 | (551 | ) | |||||||||||
52 | Hard Red Winter Wheat Future* | 1,653 | 7/14/15 | 156 | ||||||||||||
7 | Henry Hub Natural Gas Swap Future* | 62 | 12/29/15 | (11 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 62 | 1/27/16 | (11 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 61 | 2/25/16 | (12 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 58 | 3/29/16 | (15 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 58 | 4/27/16 | (15 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 59 | 5/26/16 | (14 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 60 | 6/28/16 | (13 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 60 | 7/27/16 | (13 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 60 | 8/29/16 | (13 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 60 | 9/28/16 | (13 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 62 | 10/27/16 | (11 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 65 | 11/28/16 | (8 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future* | 77 | 12/28/16 | (8 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future* | 77 | 1/27/17 | (9 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future* | 76 | 2/24/17 | (10 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future* | 73 | 3/29/17 | (13 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future* | 73 | 4/26/17 | (13 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future* | 73 | 5/26/17 | (12 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future* | 74 | 6/28/17 | (12 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future* | 74 | 7/27/17 | (12 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future* | 74 | 8/29/17 | (12 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future* | 75 | 9/27/17 | (11 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future* | 76 | 10/27/17 | (10 | ) | |||||||||||
8 | Henry Hub Natural Gas Swap Future* | 80 | 11/28/17 | (6 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 72 | 12/27/17 | (5 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 72 | 1/29/18 | (6 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 71 | 2/26/18 | (7 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 67 | 3/27/18 | (11 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 67 | 4/26/18 | (11 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 67 | 5/29/18 | (11 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 68 | 6/27/18 | (10 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 68 | 7/27/18 | (10 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 68 | 8/29/18 | (10 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 68 | 9/26/18 | (9 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 70 | 10/29/18 | (8 | ) | |||||||||||
7 | Henry Hub Natural Gas Swap Future* | 73 | 11/28/18 | (5 | ) | |||||||||||
(1) | ICE WTI Crude Future* | (53 | ) | 1/16/15 | 10 | |||||||||||
1 | ICE WTI Crude Future* | 63 | 5/19/16 | 1 | ||||||||||||
(1) | ICE WTI Crude Future* | (65 | ) | 11/18/16 | (1 | ) | ||||||||||
24 | Lean Hogs Future* | 879 | 6/12/15 | (37 | ) | |||||||||||
9 | Live Cattle Future* | 585 | 4/30/15 | (14 | ) | |||||||||||
60 | Live Cattle Future* | 3,718 | 6/30/15 | (61 | ) | |||||||||||
2 | LLS (Argus) VS WTI Spread Calendar Swap Future* | 4 | 1/30/15 | (1 | ) | |||||||||||
2 | LLS (Argus) VS WTI Spread Calendar Swap Future* | 4 | 2/27/15 | (1 | ) | |||||||||||
2 | LLS (Argus) VS WTI Spread Calendar Swap Future* | 4 | 3/31/15 | (1 | ) | |||||||||||
2 | LLS (Argus) VS WTI Spread Calendar Swap Future* | 4 | 4/30/15 | (1 | ) | |||||||||||
2 | LLS (Argus) VS WTI Spread Calendar Swap Future* | 4 | 5/29/15 | (1 | ) | |||||||||||
2 | LLS (Argus) VS WTI Spread Calendar Swap Future* | 5 | 6/30/15 | (1 | ) | |||||||||||
87 | LME Lead Future* | 4,037 | 2/13/15 | (299 | ) | |||||||||||
51 | Mill Wheat Euro Future* | 621 | 3/10/15 | 17 | ||||||||||||
13 | Mill Wheat Euro Future* | 157 | 12/10/15 | — | ||||||||||||
15 | Mini MSCI Emerging Markets Index Future* | 718 | 3/20/15 | 6 |
See accompanying notes to financial statements.
67
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Number of Contracts | Futures Contracts Positionsˆ | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
51 | Natural Gas Future* | $ | 1,473 | 1/28/15 | $ | (550 | ) | |||||||||
(2) | Natural Gas Future* | (58 | ) | 2/25/15 | 392 | |||||||||||
(46) | Natural Gas Future* | (1,325 | ) | 3/27/15 | 357 | |||||||||||
70 | Natural Gas Future* | 2,033 | 4/28/15 | (626 | ) | |||||||||||
20 | Natural Gas Future* | 602 | 6/26/15 | (94 | ) | |||||||||||
(5) | Natural Gas Future* | (177 | ) | 12/29/15 | 30 | |||||||||||
15 | Natural Gas Future* | 523 | 2/25/16 | (80 | ) | |||||||||||
(10) | Natural Gas Future* | (334 | ) | 3/29/16 | 42 | |||||||||||
13 | New York Harbor USLD Future* | 1,001 | 1/30/15 | (111 | ) | |||||||||||
22 | New York Harbor USLD Future* | 1,679 | 2/27/15 | (3 | ) | |||||||||||
(2) | New York Harbor USLD Future* | (155 | ) | 7/31/15 | 37 | |||||||||||
(2) | New York Harbor USLD Future* | (157 | ) | 8/31/15 | 36 | |||||||||||
(2) | New York Harbor USLD Future* | (158 | ) | 9/30/15 | 34 | |||||||||||
38 | NYMEX Palladium Future* | 3,034 | 3/27/15 | 82 | ||||||||||||
(10) | NYMEX WTI Crude Future* | (533 | ) | 1/20/15 | 106 | |||||||||||
(25) | NYMEX WTI Crude Future* | (1,343 | ) | 2/20/15 | 140 | |||||||||||
125 | NYMEX WTI Crude Future* | 6,956 | 5/19/15 | (605 | ) | |||||||||||
27 | NYMEX WTI Crude Future* | 1,553 | 8/20/15 | (276 | ) | |||||||||||
22 | NYMEX WTI Crude Future* | 1,279 | 9/22/15 | (60 | ) | |||||||||||
40 | NYMEX WTI Crude Future* | 2,386 | 11/20/15 | 30 | ||||||||||||
6 | NYMEX WTI Crude Future* | 375 | 5/20/16 | (135 | ) | |||||||||||
(6) | NYMEX WTI Crude Future* | (390 | ) | 11/21/16 | 141 | |||||||||||
(5) | NYMEX WTI Crude Future* | (339 | ) | 11/20/17 | 38 | |||||||||||
2 | NYMEX WTI Crude Future* | 139 | 11/19/18 | (15 | ) | |||||||||||
3 | NYMEX WTI Crude Future* | 211 | 11/20/19 | (24 | ) | |||||||||||
120 | Platinum Future* | 7,257 | 4/28/15 | 30 | ||||||||||||
(52) | Primary Aluminum Future* | (2,403 | ) | 3/16/15 | 94 | |||||||||||
202 | Primary Aluminum Future* | 9,548 | 12/14/15 | (615 | ) | |||||||||||
75 | Primary Nickel Future* | 6,813 | 3/16/15 | (549 | ) | |||||||||||
2 | RBOB Calendar Swap Future* | 145 | 7/31/15 | (29 | ) | |||||||||||
2 | RBOB Calendar Swap Future* | 144 | 8/31/15 | (30 | ) | |||||||||||
2 | RBOB Calendar Swap Future* | 135 | 9/30/15 | (39 | ) | |||||||||||
1 | RBOB Gasoline Brent Crack Spread Future* | 9 | 7/31/15 | 2 | ||||||||||||
1 | RBOB Gasoline Brent Crack Spread Future* | 8 | 8/31/15 | 1 | ||||||||||||
1 | RBOB Gasoline Brent Crack Spread Future* | 3 | 9/30/15 | (4 | ) | |||||||||||
11 | Red Spring Wheat Future* | 342 | 3/13/15 | 16 | ||||||||||||
3 | Red Spring Wheat Future* | 96 | 7/14/15 | (2 | ) | |||||||||||
5 | S&P 500 E-mini Future* | 513 | 3/20/15 | (6 | ) | |||||||||||
36 | Silver Future* | 2,808 | 3/27/15 | (30 | ) | |||||||||||
(3) | Soybean Future* | (155 | ) | 5/14/15 | 3 | |||||||||||
(32) | Soybean Future* | (1,659 | ) | 7/14/15 | 34 | |||||||||||
32 | Soybean Future* | 1,609 | 11/13/15 | (16 | ) | |||||||||||
348 | Sugar #11 Future* | 5,659 | 2/27/15 | (663 | ) | |||||||||||
(19) | Wheat Future* | (560 | ) | 3/13/15 | 4 | |||||||||||
(20) | Wheat Future* | (598 | ) | 7/14/15 | (14 | ) | ||||||||||
12 | Wheat Future* | 369 | 12/14/15 | — | ||||||||||||
8 | White Sugar Future* | 156 | 2/13/15 | (27 | ) | |||||||||||
139 | Zinc Future* | 7,534 | 1/16/15 | (52 | ) | |||||||||||
Net Unrealized Appreciation/(Depreciation) | (6,982 | ) |
Amounts designated as “—” are $0 or have been rounded to $0.
ˆ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
* | All or a portion of these futures contracts are held by the wholly-owned subsidiaries of the Portfolio. See Note 2N in the Notes to Financial Statements for the basis of consolidation. |
See accompanying notes to financial statements.
68
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Currency Contracts
Contract Amount (Local Currency) | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/14 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Purchased | ||||||||||||||||||||||||
230,215 | Australian Dollar | Goldman Sachs | 1/5/15 | $ | 189 | $ | 188 | $ | (1 | ) | ||||||||||||||
1,072,626 | Brazilian Real | Deutsche Bank | 1/5/15 | 404 | 403 | (1 | ) | |||||||||||||||||
2,378,150 | Brazilian Real | Credit Suisse | 1/5/15 | 897 | 894 | (3 | ) | |||||||||||||||||
3,319,939 | Brazilian Real | Deutsche Bank | 2/3/15 | 1,255 | 1,238 | (17 | ) | |||||||||||||||||
396,929 | Brazilian Real | JPMorgan Chase | 1/5/15 | 149 | 149 | — | ||||||||||||||||||
141,000* | Canadian Dollar | JPMorgan Chase | 3/3/15 | 122 | 121 | (1 | ) | |||||||||||||||||
22,433,788 | Euro | Goldman Sachs | 1/5/15 | 27,333 | 27,144 | (189 | ) | |||||||||||||||||
130,000* | Euro | Deutsche Bank | 2/19/15 | 159 | 157 | (2 | ) | |||||||||||||||||
702,212 | Euro | JPMorgan Chase | 1/5/15 | 876 | 850 | (26 | ) | |||||||||||||||||
379,000* | Euro | Goldman Sachs | 2/19/15 | 472 | 459 | (13 | ) | |||||||||||||||||
130,953,804 | Indian Rupee | JPMorgan Chase | 1/20/15 | 2,086 | 2,066 | (20 | ) | |||||||||||||||||
31,056,430 | Indian Rupee | Goldman Sachs | 2/26/15 | 496 | 486 | (10 | ) | |||||||||||||||||
200,000 | Japanese Yen | Deutsche Bank | 1/5/15 | 2 | 2 | — | ||||||||||||||||||
18,239,142 | Mexican Peso | JPMorgan Chase | 2/5/15 | 1,313 | 1,234 | (79 | ) | |||||||||||||||||
Total Currencies Purchased | $ | 35,753 | $ | 35,391 | $ | (362 | ) | |||||||||||||||||
Currencies Sold | ||||||||||||||||||||||||
1,503,000 | Australian Dollar | Deutsche Bank | 1/5/15 | $ | 1,279 | $ | 1,226 | $ | 53 | |||||||||||||||
1,072,626 | Brazilian Real | Deutsche Bank | 1/5/15 | 388 | 403 | (15 | ) | |||||||||||||||||
2,378,150 | Brazilian Real | Credit Suisse | 1/5/15 | 884 | 894 | (10 | ) | |||||||||||||||||
2,378,150 | Brazilian Real | Credit Suisse | 2/3/15 | 889 | 887 | 2 | ||||||||||||||||||
396,929 | Brazilian Real | JPMorgan Chase | 1/5/15 | 147 | 149 | (2 | ) | |||||||||||||||||
471,000 | British Pound Sterling | Goldman Sachs | 2/3/15 | 741 | 734 | 7 | ||||||||||||||||||
1,916,000 | British Pound Sterling | Credit Suisse | 2/3/15 | 2,994 | 2,985 | 9 | ||||||||||||||||||
188,000 | Canadian Dollar | JPMorgan Chase | 3/3/15 | 164 | 162 | 2 | ||||||||||||||||||
177,000 | Euro | Goldman Sachs | 1/5/15 | 220 | 214 | 6 | ||||||||||||||||||
22,434,000 | Euro | Goldman Sachs | 2/3/15 | 27,341 | 27,152 | 189 | ||||||||||||||||||
22,959,000 | Euro | JPMorgan Chase | 1/5/15 | 28,472 | 27,779 | 693 | ||||||||||||||||||
27,245,430 | Indian Rupee | Barclays Bank | 2/26/15 | 423 | 427 | (4 | ) | |||||||||||||||||
36,824,000 | Mexican Peso | Credit Suisse | 2/5/15 | 2,669 | 2,491 | 178 | ||||||||||||||||||
1,513,336 | Mexican Peso | JPMorgan Chase | 2/5/15 | 102 | 102 | — | ||||||||||||||||||
14,415,000 | Mexican Peso | Deutsche Bank | 2/5/15 | 1,056 | 975 | 81 | ||||||||||||||||||
20,279,435 | Mexican Peso | Barclays Bank | 2/5/15 | 1,485 | 1,372 | 113 | ||||||||||||||||||
Total Currencies Sold | $ | 69,256 | $ | 67,952 | $ | 1,302 | ||||||||||||||||||
Net Unrealized/Appreciation(Depreciation) | $ | 940 |
Amounts designated as “—” are $0 or has been rounded to $0.
* | All or a portion of these currency contracts are held by the wholly-owned subsidiaries of the Portfolio. See Note 2N in the Notes to Financial Statements for the basis of consolidation. |
Over-the-counter options written as of December 31, 2014 were as follows:
Description | Counterparty | Put/ Call | Exercise Price | Expiration Date | Number of Contracts | Premium (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||||||||
Inflation Capital US Dollar US CPI Urban Consumers NSA Index Option* | Deutsche Bank | Put | $ | — | 1/11/18 | (50 | ) | $ | (5 | ) | $ | (2 | ) | $ | 3 | |||||||||||||||||
Inflation Capital US Dollar US CPI Urban Consumers NSA Index Option* | Deutsche Bank | Put | — | 1/22/18 | (50 | ) | (5 | ) | (2 | ) | 3 |
See accompanying notes to financial statements.
69
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Description | Counterparty | Put/ Call | Exercise Price | Expiration Date | Number of Contracts | Premium (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||||||||
Inflation Capital US Dollar US CPI Urban Consumers NSA Index Option* | JPMorgan Chase | Put | $ | 4 | 4/22/24 | (60 | ) | $ | (4 | ) | $ | (1 | ) | $ | 3 | |||||||||||||||||
Inflation Capital US Dollar US CPI Urban Consumers NSA Index Option* | JPMorgan Chase | Put | 4 | 5/16/24 | (20 | ) | (1 | ) | — | 1 | ||||||||||||||||||||||
10-Year USD Interest Rate Option | JPMorgan Chase | Call | 2 | 2/19/15 | (890 | ) | (40 | ) | (72 | ) | (32 | ) | ||||||||||||||||||||
10-Year USD Interest Rate Option | JPMorgan Chase | Put | 3 | 2/19/15 | (890 | ) | (48 | ) | (7 | ) | 41 | |||||||||||||||||||||
Total | $ | (103 | ) | $ | (84 | ) | $ | 19 |
Exchange-traded options purchased as of December 31, 2014 were as follows:
Description | Put/ Call | Exercise Price | Expiration Date | Number of Contracts | Cost (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||||
Crude Oil Future* | Call | $ | 145 | 11/17/15 | 5 | $ | 30 | $ | 1 | $ | (29 | ) | ||||||||||||||||
Gold Future Option* | Call | 2,000 | 11/22/16 | 19 | 102 | 16 | (86 | ) | ||||||||||||||||||||
Natural Gas Option* | Call | 5 | 1/27/15 | 69 | 117 | 1 | (116 | ) | ||||||||||||||||||||
Wheat Future* | Put | 575 | 2/20/15 | 16 | 14 | 13 | (1 | ) | ||||||||||||||||||||
Total | $ | 263 | $ | 31 | $ | (232 | ) |
Exchange-traded options written as of December 31, 2014 were as follows:
Description | Put/ Call | Exercise Price | Expiration Date | Number of Contracts | Premium (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||||
Coffee “C'' Future* | Call | $ | 190 | 2/11/15 | (2 | ) | $ | (2 | ) | $ | (2 | ) | $ | — | ||||||||||||||
Corn Future* | Call | 435 | 1/23/15 | (14 | ) | (3 | ) | (1 | ) | 2 | ||||||||||||||||||
Crude Oil Future* | Call | 74 | 1/14/15 | (2 | ) | (2 | ) | — | 2 | |||||||||||||||||||
Crude Oil Future* | Call | 75 | 1/14/15 | (8 | ) | (7 | ) | — | 7 | |||||||||||||||||||
Crude Oil Future* | Call | 67 | 2/17/15 | (4 | ) | (5 | ) | (2 | ) | 3 | ||||||||||||||||||
Gold Future Option* | Call | 1,250 | 1/27/15 | (6 | ) | (4 | ) | (2 | ) | 2 | ||||||||||||||||||
Gold Future Option* | Call | 250 | 2/24/15 | (1 | ) | (1 | ) | (1 | ) | — | ||||||||||||||||||
Mill Wheat Euro Future* | Call | 185 | 2/13/15 | (8 | ) | (5 | ) | (9 | ) | (4 | ) | |||||||||||||||||
Mill Wheat Euro Future* | Call | 185 | 2/13/15 | (8 | ) | (3 | ) | (1 | ) | 2 | ||||||||||||||||||
Natural Gas Future* | Call | 1 | 2/24/15 | (6 | ) | (12 | ) | (1 | ) | 11 | ||||||||||||||||||
Natural Gas Future* | Call | 1 | 2/24/15 | (2 | ) | (7 | ) | (1 | ) | 6 | ||||||||||||||||||
Natural Gas Future* | Call | 4 | 3/26/15 | (2 | ) | — | — | — | ||||||||||||||||||||
Natural Gas Future* | Call | 4 | 3/26/15 | (2 | ) | — | — | — | ||||||||||||||||||||
Soybean Future* | Call | 100 | 1/23/15 | (3 | ) | (1 | ) | (1 | ) | — | ||||||||||||||||||
WTI Brent Future* | Call | — | 1/14/15 | (2 | ) | (1 | ) | (1 | ) | — | ||||||||||||||||||
WTI Brent Future* | Call | — | 2/11/15 | (5 | ) | (4 | ) | (3 | ) | 1 | ||||||||||||||||||
WTI Brent Spread Future* | Call | — | 2/11/15 | (6 | ) | (5 | ) | (12 | ) | (7 | ) | |||||||||||||||||
Corn Future* | Put | 370 | 2/20/15 | (24 | ) | (14 | ) | (6 | ) | 8 | ||||||||||||||||||
Crude Oil Future* | Put | 70 | 11/17/15 | (5 | ) | (37 | ) | (75 | ) | (38 | ) | |||||||||||||||||
Natural Gas Future* | Put | 3 | 1/27/15 | (1 | ) | (1 | ) | (4 | ) | (3 | ) | |||||||||||||||||
Natural Gas Future* | Put | 3 | 3/26/15 | (4 | ) | (4 | ) | (12 | ) | (8 | ) | |||||||||||||||||
Soybean Future* | Put | — | 1/23/15 | (3 | ) | (1 | ) | (2 | ) | (1 | ) | |||||||||||||||||
WTI Brent Future* | Put | — | 2/11/15 | (6 | ) | (5 | ) | — | 5 | |||||||||||||||||||
WTI Brent Future* | Put | — | 2/11/15 | (5 | ) | (3 | ) | (1 | ) | 2 | ||||||||||||||||||
Total | $ | (127 | ) | $ | (137 | ) | $ | (10 | ) |
* | All or a portion of these currency contracts are held by the wholly-owned subsidiaries of the Portfolio. See Note 2N in the Notes to Financial Statements for the basis of consolidation. |
See accompanying notes to financial statements.
70
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Over-the-counter swaptions written as of December 31, 2014 were as follows:
Description | Counterparty | Put/ Call | Exercise Price | Expiration Date | Notional Amount (000) | Premium (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||||||||
NYMEX WTI Crude Oil Index* | Goldman Sachs | Call | $ | 0.3058 | 2/10/15 | $ | 3,000 | $ | (8 | ) | $ | — | $ | 8 | ||||||||||||||||||
Crude Oil February 2015 Future* | Goldman Sachs | Call | 0.2678 | 2/10/15 | 1,000 | (3 | ) | — | 3 | |||||||||||||||||||||||
S&P GSCI Energy Excess Return Index* | Goldman Sachs | Call | 0.5776 | 3/6/15 | 1,000 | (6 | ) | — | 6 | |||||||||||||||||||||||
S&P GSCI Crude Oil Excess Return Index* | Goldman Sachs | Call | 0.4199 | 3/6/15 | 1,000 | (4 | ) | — | 4 | |||||||||||||||||||||||
$ | (21 | ) | $ | — | $ | 21 |
Total Return Swap Agreementsˆ
Underlying Reference | Counterparty | Expiration Date | Notional Amount (000) | Swap Premiums Paid/ (Received) (000) | Amount at Value (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
S&P GSCI Agriculture Index* | Goldman Sachs International | 2/27/15 | $ | 1,528 | — | $ | (67 | ) | $ | (67 | ) | |||||||||||||
S&P GSCI Industrial Metals Index* | Goldman Sachs International | 5/29/15 | 784 | — | (35 | ) | (35 | ) | ||||||||||||||||
S&P GSCI Grains Index* | Goldman Sachs International | 5/29/15 | 227 | — | 3 | 3 | ||||||||||||||||||
S&P GSCI Grains Index* | JPMorgan Chase | 2/27/15 | 2,001 | — | 24 | 24 | ||||||||||||||||||
$ | — | $ | (75 | ) | $ | (75 | ) |
Interest Rate Swap Agreementsˆ
Pay/Receive Floating Rate | Floating Rate Index | Fixed Rate | Expiration Date | Counterparty | Notional Amount (000) | Swap Premiums Paid/ (Received) (000) | Amount at Value (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||||||||
Receive | IRS REC GBP FIXED | 3.55 | % | 2/11/44 | Goldman Sachs International | 200 GB | $ | — | $ | 19 | $ | 19 | ||||||||||||||||||||
Receive | IRS REC MXN | 6.35 | % | 9/1/23 | Deutsche Bank | 2,750 MXN | (5 | ) | 6 | 11 | ||||||||||||||||||||||
Receive | IRS REC MXN | 6.35 | % | 9/1/23 | Goldman Sachs International | 5,000 MXN | (9 | ) | 11 | 20 | ||||||||||||||||||||||
Receive | REC BRL | 12.25 | % | 1/2/17 | Barclays Bank | 7,900 BRL | 6 | 9 | 3 | |||||||||||||||||||||||
Receive | REC IRS GBP FIXED | 3.10 | % | 12/12/24 | JPMorgan Chase | 4,000 GB | 5 | 45 | 40 | |||||||||||||||||||||||
Receive | REC IRS GBP FIXED | 3.53 | % | 12/15/24 | JPMorgan Chase | 100 GB | 1 | 7 | 6 | |||||||||||||||||||||||
Receive | REC IRS GBP FIXED | 3.55 | % | 12/11/44 | Deutsche Bank | 1,000 GB | 3 | 92 | 89 | |||||||||||||||||||||||
Receive | RECV BRL FIXED | 9.10 | % | 1/2/17 | Goldman Sachs International | 16,000 BRL | — | (394 | ) | (394 | ) | |||||||||||||||||||||
Receive | RECV US CPI URBAN CONSUMERS NSA | 2.50 | % | 7/15/22 | Deutsche Bank | 500 USD | 3 | (44 | ) | (47 | ) | |||||||||||||||||||||
$ | 4 | $ | (249 | ) | $ | (253 | ) |
Centrally Cleared Interest Rate Swap Agreementsˆ
Pay/Receive Floating Rate | Floating Rate Index | Fixed Rate | Expiration Date | Notional Amount (000) | Swap Premiums Paid/ (Received) (000) | Amount at Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||||
Pay | 3-Month AUD-BBR-BBSW | 3.75 | % | 6/18/44 | 5,800 USD | $ | 90 | $ | (1,297 | ) | $ | (1,387 | ) | |||||||||||||||
Pay | 3-Month U.S. Dollar LIBOR BBA | 0.75 | % | 6/18/16 | 10,300 USD | (10 | ) | (34 | ) | (24 | ) | |||||||||||||||||
Pay | 6-Month EUR Dollar LIBOR BBA | 2.00 | % | 3/18/45 | 1,200 EUR | (164 | ) | (193 | ) | (29 | ) | |||||||||||||||||
Receive | 1-Month U.S. Dollar LIBOR BBA | 6.35 | % | 9/1/23 | 9,250 MXN | 27 | 17 | (10 | ) | |||||||||||||||||||
Receive | 6-Month AUD Dollar LIBOR BBA | 4.00 | % | 6/18/19 | 4,600 AUD | (29 | ) | 216 | 245 | |||||||||||||||||||
$ | (86 | ) | $ | (1,291 | ) | $ | (1,205 | ) |
See accompanying notes to financial statements.
71
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Commodity Forward Swap Agreementsˆ
Underlying Reference Entity | Counterparty | Strike Price | Expiration Date | Notional Amount (000) | Swap Premiums Paid/ (Received) (000) | Amount at Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||||
ACSH5* | Goldman Sachs International | $ | 7 | 3/2/15 | $ | 10 | $ | — | $ | 17 | $ | 17 | ||||||||||||||||
JETNWECO* | JPMorgan Chase Bank | 17 | 4/1/15 | 3 | — | (9 | ) | (9 | ) | |||||||||||||||||||
JETNWECO* | JPMorgan Chase Bank | 17 | 4/1/15 | 1 | — | 2 | 2 | |||||||||||||||||||||
LLSBRT* | Goldman Sachs International | — | 1/2/16 | 24 | — | 105 | 105 | |||||||||||||||||||||
LLSBRT* | Goldman Sachs International | — | 1/4/16 | 12 | — | 48 | 48 | |||||||||||||||||||||
LLSBRT* | Goldman Sachs International | — | 7/1/15 | 3 | — | 2 | 2 | |||||||||||||||||||||
LLSBRT* | Goldman Sachs International | — | 7/1/15 | 3 | — | 2 | 2 | |||||||||||||||||||||
NAPCO* | JPMorgan Chase Bank | — | 4/1/15 | 1 | — | 1 | 1 | |||||||||||||||||||||
NAPCO* | JPMorgan Chase Bank | — | 4/1/15 | 3 | — | (3 | ) | (3 | ) | |||||||||||||||||||
Platinum Index* | Goldman Sachs International | 272 | 11/2/15 | 1 | — | (51 | ) | (51 | ) | |||||||||||||||||||
Gold Index* | Goldman Sachs International | 268 | 2/2/15 | 1 | — | (111 | ) | (111 | ) | |||||||||||||||||||
$ | — | $ | 3 | $ | 3 |
Commodity Swap Agreementsˆ
Reference Entity | Counterparty | Expiration Date | Notional Amount (000) | Swap Premiums Paid/ (Received) (000) | Amount at Value (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
TBL/BCOMF1T Index* | JPMorgan Chase | 2/17/15 | $ | 7,741 | $ | (14 | ) | $ | (381 | ) | $ | (367 | ) | |||||||||||
TBL/BCOMTR Index* | Canadian Imperial Bank of Commerce | 2/17/15 | 1,722 | — | (86 | ) | (86 | ) | ||||||||||||||||
TBL/JMABNICO Index* | JPMorgan Chase | 2/17/15 | 409 | — | (16 | ) | (16 | ) | ||||||||||||||||
TBL/BCOMTR Index* | JPMorgan Chase | 2/17/15 | 74,505 | (218 | ) | (3,703 | ) | (3,485 | ) | |||||||||||||||
TBL/BCOMTR Index* | Goldman Sachs International | 2/17/15 | 13,018 | (57 | ) | (647 | ) | (590 | ) | |||||||||||||||
TBL/BCOMTR Index* | Deutsche Bank | 2/17/15 | 55,740 | 7 | (2,770 | ) | (2,777 | ) | ||||||||||||||||
TBL/JMABNICP Index* | JPMorgan Chase | 2/17/15 | 3,858 | — | (154 | ) | (154 | ) | ||||||||||||||||
$ | 156,993 | $ | (282 | ) | $ | (7,757 | ) | $ | (7,475 | ) |
See accompanying notes to financial statements.
72
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
Variance Swap Agreementsˆ
Reference Entity | Counterparty | Strike Price | Expiration Date | Notional Amount (000) | Swap Premiums Paid/ (Received) (000) | Amount at Value (000) | Unrealized Appreciation/ (Depreciation) (000)" | |||||||||||||||||||||
Crude Oil February 2015 Future* | Goldman Sachs | $ | 0.1166 | 1/15/15 | $ | 146 | $ | — | $ | (27 | ) | $ | (27 | ) | ||||||||||||||
Crude Oil December 2015 Future* | Deustche Bank | 0.0420 | 11/17/15 | 120 | — | 16 | 16 | |||||||||||||||||||||
NYMEX WTI Crude Future Index* | Deustche Bank | 0.0324 | 5/15/15 | 150 | — | 14 | 14 | |||||||||||||||||||||
NYMEX WTI Crude Future Index* | Deustche Bank | 0.0324 | 5/14/15 | 143 | — | 14 | 14 | |||||||||||||||||||||
Brent Crude Oil Price Index* | Goldman Sachs | 0.1156 | 1/12/15 | 147 | — | (35 | ) | (35 | ) | |||||||||||||||||||
Brent Crude Oil Price Index* | Goldman Sachs | 0.1208 | 1/12/15 | 144 | — | (35 | ) | (35 | ) | |||||||||||||||||||
Dow Jones-UBS Commodity Index* | Goldman Sachs | 0.0196 | 2/3/15 | 187 | — | 1 | 1 | |||||||||||||||||||||
London Gold Market Fixing Ltd Index* | Goldman Sachs | 0.0613 | 11/25/15 | 160 | — | — | 4 | |||||||||||||||||||||
London Gold Market Fixing Ltd Index* | Goldman Sachs | 0.1089 | 11/25/15 | 120 | — | — | — | |||||||||||||||||||||
S&P GSCI Crude Oil Excess Return Index* | Deustche Bank | 0.0638 | 11/17/15 | 100 | — | (30 | ) | (30 | ) | |||||||||||||||||||
S&P GSCI Silver Index* | Goldman Sachs | 0.0272 | 6/11/15 | 423 | — | (1 | ) | (1 | ) | |||||||||||||||||||
S&P GSCI Crude Oil Index* | Deustche Bank | 0.0462 | 5/14/15 | 240 | — | (49 | ) | (49 | ) | |||||||||||||||||||
S&P GSCI Silver Index* | Goldman Sachs | 0.0576 | 6/11/15 | 291 | — | 9 | 9 | |||||||||||||||||||||
S&P 500 Index* | JPMorgan Chase | 0.0269 | 1/22/15 | 305 | — | 1 | 1 | |||||||||||||||||||||
$ | — | $ | (118 | ) | $ | (118 | ) |
ˆ | Cash has been pledged as collateral for swap contracts held by the Portfolio. |
* | All or a portion of these swap contracts are held by the wholly-owned subsidiaries of the Portfolio. See Note 2N in the Notes to Portfolio of Investments. |
Amounts designated as “—” are $0 or have been rounded to $0.
AUD — Australian Dollar
BRL — Brazilian Real
EUR — Euro
MXN — Mexican Nuevo Peso
See accompanying notes to financial statements.
73
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 96.32% | ||||||||
Australia — 5.12% | ||||||||
153,690 | ALS Ltd. (Professional Services) | $ | 666 | |||||
41,565 | Amcor Ltd. (Containers & Packaging) | 457 | ||||||
18,871 | ASX Ltd. (Diversified Financial Services) | 563 | ||||||
193,187 | AusNet Services (Electric Utilities) | 209 | ||||||
267,435 | Australia & New Zealand Banking Group Ltd. (Banks) | 6,957 | ||||||
35,327 | Bank of Queensland Ltd. (Banks) | 348 | ||||||
44,685 | Bendigo & Adelaide Bank Ltd. (Banks) | 465 | ||||||
246,334 | Coca-Cola Amatil Ltd. (Beverages) | 1,859 | ||||||
158,011 | Commonwealth Bank of Australia (Banks) | 10,976 | ||||||
278,266 | Federation Centres (Real Estate Investment Trusts) | 648 | ||||||
328,517 | GPT Group (Real Estate Investment Trusts) | 1,162 | ||||||
75,938 | Iluka Resources Ltd. (Metals & Mining) | 365 | ||||||
228,206 | Insurance Australia Group Ltd. (Insurance) | 1,158 | ||||||
346,295 | Metcash Ltd. (Food & Staples Retailing) | 522 | ||||||
719,676 | Mirvac Group (Real Estate Investment Trusts) | 1,041 | ||||||
229,412 | National Australia Bank Ltd. (Banks) | 6,255 | ||||||
21,706 | Newcrest Mining Ltd. (Metals & Mining) (a) | 191 | ||||||
411,781 | Novion Property Group Pty Ltd. (Real Estate Investment Trusts) | 708 | ||||||
116,285 | Orica Ltd. (Chemicals) | 1,781 | ||||||
1,037,759 | Scentre Group (Real Estate Investment Trusts) | 2,939 | ||||||
453,558 | Stockland Trust Group (Real Estate Investment Trusts) | 1,515 | ||||||
125,388 | Suncorp Group Ltd. (Insurance) | 1,432 | ||||||
423,334 | Sydney Airport (Transportation Infrastructure) | 1,620 | ||||||
848,863 | Telstra Corp. Ltd. (Diversified Telecommunication Services) | 4,120 | ||||||
250,156 | Toll Holdings Ltd. (Air Freight & Logistics) | 1,191 | ||||||
384,791 | Westfield Corp. (Real Estate Investment Trusts) | 2,820 | ||||||
302,999 | Westpac Banking Corp. (Banks) | 8,147 | ||||||
208,308 | Woodside Petroleum Ltd. (Oil, Gas & Consumable Fuels) | 6,441 | ||||||
80,677 | WorleyParsons Ltd. (Energy Equipment & Services) | 661 | ||||||
67,217 | ||||||||
Austria — 0.16% | ||||||||
149,538 | Immofinanz AG (Real Estate Management & Development) (a) | 377 | ||||||
37,806 | OMV AG (Oil, Gas & Consumable Fuels) | 1,004 | ||||||
10,161 | Raiffeisen Bank International AG (Banks) | 155 | ||||||
6,746 | Vienna Insurance Group Wiener Staedtische Versicherung AG (Insurance) | 301 | ||||||
6,334 | Voestalpine AG (Metals & Mining) | 250 | ||||||
2,087 | ||||||||
Belgium — 1.09% | ||||||||
19,846 | Ageas (Insurance) | 706 | ||||||
21,270 | Anheuser-Busch InBev NV (Beverages) | 2,393 |
Shares | Security Description | Value (000) | ||||||
Belgium (continued) | ||||||||
23,491 | Belgacom SA (Diversified Telecommunication Services) | $ | 852 | |||||
12,803 | Colruyt SA (Food & Staples Retailing) | 595 | ||||||
32,831 | Delhaize Group (Food & Staples Retailing) | 2,391 | ||||||
6,780 | Groupe Bruxelles Lambert SA (Diversified Financial Services) | 578 | ||||||
19,941 | KBC Groep NV (Banks) | 1,113 | ||||||
16,102 | Solvay SA (Chemicals) | 2,179 | ||||||
17,022 | Telenet Group Holding NV (Media) (a) | 955 | ||||||
15,038 | UCB SA (Pharmaceuticals) | 1,143 | ||||||
35,783 | Umicore SA (Chemicals) | 1,440 | ||||||
14,345 | ||||||||
Bermuda — 0.24% | ||||||||
74,000 | Alibaba Health Information Technology Ltd. (Diversified Financial Services) (a) | 48 | ||||||
102,000 | Beijing Enterprises Water Group Ltd. (Water Utilities) | 69 | ||||||
46,000 | Cosco Pacific Ltd. (Transportation Infrastructure) | 65 | ||||||
25,300 | Golar LNG Ltd. (Oil, Gas & Consumable Fuels) | 923 | ||||||
300,000 | GOME Electrical Appliances Holding Ltd. (Specialty Retail) | 44 | ||||||
90,000 | Kunlun Energy Co. Ltd. (Oil, Gas & Consumable Fuels) | 85 | ||||||
52,000 | Nine Dragons Paper Holdings Ltd. (Paper & Forest Products) | 45 | ||||||
113,799 | Seadrill Ltd. (Energy Equipment & Services)ˆ | 1,318 | ||||||
122,000 | Sihuan Pharmaceutical Holdings Group Ltd. (Pharmaceuticals) | 81 | ||||||
136,667 | Yue Yuen Industrial Holdings Ltd. (Textiles, Apparel & Luxury Goods) | 491 | ||||||
3,169 | ||||||||
Brazil — 0.62% | ||||||||
18,541 | Ambev SA, ADR (Beverages) | 115 | ||||||
128,300 | Ambev SA (Beverages) | 790 | ||||||
3,100 | B2W CIA Digital (Internet & Catalog Retail) (a) | 26 | ||||||
17,700 | Banco Bradesco SA (Banks) | 229 | ||||||
22,900 | Banco do Brasil SA (Banks) | 205 | ||||||
12,100 | Banco Santander Brasil SA (Banks) | 61 | ||||||
19,200 | BB Seguridade Participacoes SA (Insurance) | 233 | ||||||
47,200 | BM&FBOVESPA SA (Diversified Financial Services) | 175 | ||||||
12,100 | BR Malls Participacoes SA (Real Estate Management & Development) | 75 | ||||||
18,200 | BRF SA (Food Products) | 435 | ||||||
24,300 | CCR SA (Transportation Infrastructure) | 141 | ||||||
13,100 | Centrais Electricas Brasileiras SA (Electric Utilities) | 29 | ||||||
5,905 | CETIP SA (Capital Markets) | 72 | ||||||
9,000 | Cia de Saneamento Basico do Estado de Sao Paulo SABESP (Water Utilities) | 58 | ||||||
19,900 | Cielo SA (IT Services) | 312 |
See accompanying notes to financial statements.
74
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Brazil (continued) | ||||||||
3,900 | Companhia Brasileira de Destribuicao Grupo PAO de (Food & Staples Retailing) | $ | 144 | |||||
19,400 | Companhia Siderurgica Nacional SA (CSN) (Metals & Mining) | 41 | ||||||
3,200 | Cosan SA Industria e Comercio (Oil, Gas & Consumable Fuels) | 35 | ||||||
6,000 | CPFL Energia SA (Electric Utilities) | 41 | ||||||
7,000 | Cyrela Brazil Realty SA Empreendimentos (Household Durables) | 29 | ||||||
9,130 | Duratex SA (Paper Products) | 28 | ||||||
5,400 | Ecorodovias Infraestrutura E Logistica SA (Transportation Infrastructure) | 22 | ||||||
7,300 | EDP – Energias do Brasil SA (Electric Utilities) | 25 | ||||||
17,400 | Embraer SA (Aerospace & Defense) | 160 | ||||||
8,000 | Estacio Participacoes SA (Diversified Consumer Services) | 72 | ||||||
7,400 | Fibria Celulose SA (Paper & Forest Products) (a) | 91 | ||||||
73,500 | Hypermarcas SA (Personal Products) (a) | 461 | ||||||
75,750 | Itau Unibanco Holding SA (Banks) | 985 | ||||||
25,200 | JBS SA (Food Products) | 106 | ||||||
12,400 | Klabin SA (Containers & Packaging) | 68 | ||||||
37,140 | Kroton Educacional SA (Diversified Consumer Services) | 216 | ||||||
4,200 | Localiza Rent A Car SA (Road & Rail) | 56 | ||||||
3,550 | Lojas Americanas SA (Multiline Retail) | 18 | ||||||
3,400 | Lojas Renner SA (Multiline Retail) | 97 | ||||||
1,000 | M Dias Branco SA (Food Products) | 34 | ||||||
2,300 | Multiplan Empreendimentos Imobiliarios SA (Real Estate Management & Development) | 41 | ||||||
4,600 | Natura Cosmeticos SA (Personal Products) | 55 | ||||||
7,700 | OdontoPrev SA (Health Care Providers & Services) | 29 | ||||||
80,000 | Petroleo Brasileiro SA (Oil, Gas & Consumable Fuels) | 288 | ||||||
3,300 | Porto Seguro SA (Insurance) | 38 | ||||||
6,000 | Qualicorp SA (Health Care Providers & Services) (a) | 62 | ||||||
5,400 | Raia Drogasil SA (Food & Staples Retailing) | 52 | ||||||
9,700 | Souza Cruz SA (Tobacco) | 71 | ||||||
4,200 | Sul America SA (Insurance) | 20 | ||||||
23,000 | Tim Participacoes SA (Wireless Telecommunication Services) | 102 | ||||||
3,800 | Totvs SA (Software) | 50 | ||||||
4,700 | Tractebel Energia SA (Independent Power and Renewable Electricity Producers) | 60 | ||||||
3,100 | Transmissora Alianca de Energia Eletrica SA (Electric Utilities) | 22 | ||||||
9,800 | Ultrapar Participacoes SA (Oil, Gas & Consumable Fuels) | 190 | ||||||
111,600 | Vale SA, ADR (Metals & Mining) | 913 | ||||||
36,900 | Vale SA (Metals & Mining) | 304 |
Shares | Security Description | Value (000) | ||||||
Brazil (continued) | ||||||||
1,000 | Via Varejo SA (Specialty Retail) (a) | $ | 8 | |||||
8,190 | WEG SA (Machinery) | 94 | ||||||
8,084 | ||||||||
Canada — 0.51% | ||||||||
9,800 | Bank of Nova Scotia (Banks) | 559 | ||||||
9,900 | Cameco Corp. (Oil, Gas & Consumable Fuels)ˆ | 162 | ||||||
35,400 | Cenovus Energy, Inc. (Oil, Gas & Consumable Fuels) | 731 | ||||||
1,300 | Centerra Gold, Inc. (Metals & Mining) | 7 | ||||||
95,400 | Centerra Gold, Inc. (Metals & Mining) | 496 | ||||||
32,400 | Enbridge, Inc. (Oil, Gas & Consumable Fuels) | 1,667 | ||||||
84,084 | First Quantum Minerals Ltd. (Metals & Mining) | 1,195 | ||||||
23,100 | Imperial Oil Ltd. (Oil, Gas & Consumable Fuels) | 995 | ||||||
22,900 | Labrador Iron Ore Royalty Corp. (Metals & Mining) | 367 | ||||||
9,700 | Potash Corp. of Saskatchewan, Inc. (Chemicals) | 343 | ||||||
5,500 | Progressive Waste Solutions Ltd. (Commercial Services & Supplies) | 165 | ||||||
6,687 | ||||||||
Cayman Islands — 0.42% | ||||||||
20,000 | AAC Technologies Holdings, Inc. (Electronic Equipment, Instruments & Components) | 107 | ||||||
26,000 | Anta Sports Products Ltd. (Textiles, Apparel & Luxury Goods) | 46 | ||||||
25,300 | Chailease Holding Co. Ltd. (Diversified Financial Services) | 63 | ||||||
147,900 | China Huishan Dairy Holdings Co. Ltd. (Food Products) | 26 | ||||||
82,000 | China Mengniu Dairy Co. Ltd. (Food Products) | 338 | ||||||
60,000 | China Resources Cement Holdings Ltd. (Construction Materials) | 39 | ||||||
11,600 | Ctrip.com International, ADR (Hotels, Restaurants & Leisure) (a) | 528 | ||||||
268,000 | GCL-Poly Energy Holdings Ltd. (Semiconductors & Semiconductor Equipment) (a) | 62 | ||||||
160,000 | Geely Automobile Holdings Ltd. (Automobiles) | 51 | ||||||
31,000 | Intime Retail Group Co. Ltd. (Multiline Retail) | 22 | ||||||
21,000 | Kingboard Chemical Holdings Ltd. (Electronic Equipment, Instruments & Components) | 35 | ||||||
16,000 | Kingsoft Corp. Ltd. (Software) | 31 | ||||||
31,000 | Lee & Man Paper Manufacturing Ltd. (Paper & Forest Products) | 17 | ||||||
78,000 | New World China Land Ltd. (Real Estate Management & Development) | 46 | ||||||
669,000 | Semiconductor Manufacturing International Corp. (Semiconductor and Semiconductor Equipment) (a) | 61 |
See accompanying notes to financial statements.
75
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Cayman Islands (continued) | ||||||||
16,000 | Shenzhou International Group (Textiles, Apparel & Luxury Goods) | $ | 53 | |||||
268,500 | Stella International Holdings Ltd. (Textiles, Apparel & Luxury Goods) | 709 | ||||||
222,035 | Tencent Holdings Ltd. (Internet Software & Services) | 3,213 | ||||||
34,000 | Uni-President China Holdings Ltd. (Food Products) | 31 | ||||||
9,000 | Zhen Ding Technology Holding Ltd. (Electronic Equipment, Instruments & Components) | 24 | ||||||
5,502 | ||||||||
Chile — 0.11% | ||||||||
72,544 | AES Gener SA (Independent Power and Renewable Electricity Producers) | 39 | ||||||
68,483 | Aguas Andinas SA, Class – A (Water Utilities) | 40 | ||||||
675,686 | Banco de Chile SA (Banks) | 77 | ||||||
881 | Banco de Credito e Inversiones SA (Banks) | 44 | ||||||
1,810,634 | Banco Santander Chile (Banks) | 90 | ||||||
4,524 | Cap SA (Metals & Mining) | 20 | ||||||
33,567 | Cencosud SA (Food & Staples Retailing) | 84 | ||||||
225,977 | Colbun SA (Independent Power and Renewable Electricity Producers) | 60 | ||||||
4,236 | Compania Cervecerias Unidas SA (Beverages) | 40 | ||||||
3,540,169 | CorpBanca SA (Banks) | 43 | ||||||
93,547 | Empresa Nacional de Electricidad SA (Independent Power and Renewable Electricity Producers) | 141 | ||||||
2,621 | Empresa Nacional de Telecomunicaciones SA (Wireless Telecommunication Services) | 26 | ||||||
37,407 | Empresas CMPC SA (Paper & Forest Products) | 94 | ||||||
13,326 | Empresas Copec SA (Oil, Gas & Consumable Fuels) | 151 | ||||||
498,562 | Enersis SA (Electric Utilities) | 163 | ||||||
7,969 | LATAM Airlines Group SA (Airlines) (a) | 93 | ||||||
24,057 | S.A.C.I. Falabella (Multiline Retail) | 162 | ||||||
14,053 | Vina Concha y Toro SA (Beverages) | 28 | ||||||
1,395 | ||||||||
China — 1.70% | ||||||||
592,000 | Agricultural Bank of China Ltd., H Shares (Banks) | 298 | ||||||
54,000 | Air China Ltd. (Airlines) | 44 | ||||||
98,000 | Aluminum Corp. of China Ltd., H Shares (Metals & Mining) (a) | 45 | ||||||
33,500 | Anhui Conch Cement Co. Ltd., H Shares (Construction Materials) | 124 | ||||||
60,000 | AviChina Industry & Technology Co. Ltd., H Shares (Aerospace & Defense) | 37 | ||||||
16,273 | Baidu, Inc., ADR (Internet Software & Services) (a) | 3,710 | ||||||
3,254,613 | Bank of China Ltd., H Shares (Banks) | 1,827 |
Shares | Security Description | Value (000) | ||||||
China (continued) | ||||||||
243,000 | Bank of Communications Co. Ltd., H Shares (Banks) | $ | 226 | |||||
38,000 | BBMG Corp., H Shares (Construction Materials) | 32 | ||||||
46,000 | Beijing Capital International Airport Co. Ltd., H Shares (Transportation Infrastructure) | 37 | ||||||
15,000 | Byd Co. Ltd., H Shares (Automobiles) | 58 | ||||||
138,000 | CGN Power Co. Ltd., H Shares (Independent Power and Renewable Electricity Producers) (a) | 60 | ||||||
140,000 | China Cinda Asset Management Co. Ltd., H Shares (Capital Markets) (a) | 68 | ||||||
235,000 | China CITIC Bank Corp. Ltd., H Shares (Banks) | 187 | ||||||
105,000 | China Coal Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 66 | ||||||
118,000 | China Communications Construction Co. Ltd. (Construction & Engineering) | 141 | ||||||
76,000 | China Communications Services Corp. Ltd., H Shares (Diversified Telecommunication Services) | 36 | ||||||
1,979,000 | China Construction Bank Corp., H Shares (Banks) | 1,617 | ||||||
54,000 | China COSCO Holdings Co. Ltd., H Shares (Marine) (a) | 26 | ||||||
68,700 | China Everbright Bank Co. Ltd., H Shares (Banks) | 37 | ||||||
38,500 | China Galaxy Securities Co., H Shares (Independent Power and Renewable Electricity Producers) | 48 | ||||||
14,900 | China International Marine Containers Group Co. Ltd., H Shares (Machinery) | 33 | ||||||
206,000 | China Life Insurance Co. Ltd., H Shares (Insurance) | 807 | ||||||
81,000 | China Longyuan Power Group Corp. (Independent Power and Renewable Electricity Producers) | 84 | ||||||
25,000 | China Medical System Holdings Ltd. (Pharmaceuticals) | 41 | ||||||
127,000 | China Merchants Bank Co. Ltd., H Shares (Banks) | 317 | ||||||
171,600 | China Minsheng Banking Corp. Ltd., H Shares (Banks) | 224 | ||||||
80,000 | China National Building Material Co. Ltd., H Shares (Construction Materials) | 77 | ||||||
50,000 | China Oilfield Services Ltd., H Shares (Energy Equipment & Services) | 86 | ||||||
225,400 | China Pacific Insurance Group Co. Ltd. (Insurance) | 1,134 | ||||||
704,000 | China Petroleum & Chemical Corp., H Shares (Oil, Gas & Consumable Fuels) | 570 | ||||||
58,500 | China Railway Construction Corp. Ltd., H Shares (Construction & Engineering) | 74 | ||||||
101,000 | China Railway Group Ltd., H Shares (Construction & Engineering) | 83 | ||||||
54,000 | China Resources Land Ltd. (Real Estate Management & Development) | 143 |
See accompanying notes to financial statements.
76
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
China (continued) | ||||||||
93,500 | China Shenhua Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | $ | 276 | |||||
73,000 | China Shipping Container Lines Co. Ltd., H Shares (Marine) (a) | 23 | ||||||
386,000 | China Telecom Corp. Ltd. (Diversified Telecommunication Services) | 223 | ||||||
38,300 | China Vanke Co. Ltd., H Shares (Real Estate Management & Development) (a) | 85 | ||||||
25,400 | Chongqing Changan Automobile Co. Ltd., Class – A (Automobiles) | 58 | ||||||
77,000 | Chongqing Rural Commercial Bank Co. Ltd., H Shares (Banks) | 48 | ||||||
29,000 | CITIC Securities Co. Ltd., H Shares (Capital Markets) | 108 | ||||||
136,000 | Country Garden Holdings Co. (Real Estate Management & Development) | 54 | ||||||
55,000 | CSR Corp. Ltd., H Shares (Machinery) | 73 | ||||||
72,000 | Datang International Power Generation Co. Ltd., H Shares (Independent Power and Renewable Electricity Producers) | 39 | ||||||
72,000 | Dongfeng Motor Group Co. Ltd., H Shares (Automobiles) | 101 | ||||||
20,000 | ENN Energy Holdings Ltd. (Gas Utilities) | 113 | ||||||
27,500 | Great Wall Motor Co. Ltd., H Shares (Automobiles) | 155 | ||||||
68,000 | Guangzhou Automobile Group Co. Ltd., H Shares (Automobiles) | 61 | ||||||
19,000 | Haitian International Holdings Ltd. (Machinery) | 40 | ||||||
35,200 | Haitong Securities Co. Ltd., H Shares (Capital Markets) | 88 | ||||||
44,000 | Huadian Power International Corp. Ltd., H Shares (Independent Power and Renewable Electricity Producers) | 38 | ||||||
88,000 | Huaneng Power International, Inc., H Shares (Independent Power and Renewable Electricity Producers) | 118 | ||||||
3,278,058 | Industrial & Commercial Bank of China Ltd., H Shares (Banks) | 2,394 | ||||||
25,900 | Inner Mongolia Yitai Coal Co. Ltd., B Shares (Oil, Gas & Consumable Fuels) | 37 | ||||||
10,400 | Jardine Matheson Holdings Ltd. (Industrial Conglomerates) | 632 | ||||||
36,000 | Jiangsu Expressway Co. Ltd., H Shares (Transportation Infrastructure) | 43 | ||||||
34,000 | Jiangxi Copper Co. Ltd., H Shares (Metals & Mining) | 59 | ||||||
40,500 | Longfor Properties (Real Estate Management & Development) | 52 | ||||||
22,000 | New China Life Insurance Co. Ltd., H Shares (Insurance) | 110 | ||||||
163,000 | People's Insurance Co. Group of China Ltd., H Shares (Insurance) | 76 | ||||||
582,000 | PetroChina Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 646 | ||||||
480,500 | PICC Property & Casualty Co. Ltd., H Shares (Insurance) (b) | 927 |
Shares | Security Description | Value (000) | ||||||
China (continued) | ||||||||
193,739 | Ping An Insurance Group Co. of China (Insurance) | $ | 1,963 | |||||
48,000 | Shandong Weigao Group Medical Polymer Co. Ltd. (Health Care Equipment & Supplies) | 39 | ||||||
78,000 | Shanghai Electric Group Co. Ltd., H Shares (Electrical Equipment) | 41 | ||||||
43,500 | Shanghai Fosun Pharmaceutical (Group) Co. Ltd., H Shares (Pharmaceuticals) | 156 | ||||||
19,700 | Shanghai Pharmaceuticals Holding Co. Ltd., H Shares (Health Care Providers & Services) | 44 | ||||||
41,500 | Shimao Property Holdings Ltd. (Real Estate Management & Development) | 92 | ||||||
112,500 | Shui On Land Ltd. (Real Estate Management & Development) | 26 | ||||||
32,000 | Sinopec Engineering Group Co. Ltd., H Shares (Construction & Engineering) | 22 | ||||||
106,000 | Sinopec Shanghai Petrochemical Co. Ltd., H Shares (Chemicals) | 31 | ||||||
29,200 | Sinopharm Group Co. (Health Care Providers & Services) | 103 | ||||||
41,000 | Sinotrans Ltd., H Shares (Air Freight & Logistics) | 27 | ||||||
53,000 | Soho China Ltd. (Real Estate Management & Development) | 37 | ||||||
71,000 | Sun Art Retail Group Ltd. (Food & Staples Retailing) | 71 | ||||||
10,000 | Tsingtao Brewery Co. Ltd. (Beverages) | 67 | ||||||
166,000 | Want Want China Holdings Ltd. (Food Products) | 218 | ||||||
14,000 | Weichai Power Co. Ltd. (Machinery) | 59 | ||||||
48,000 | Yanzhou Coal Mining Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 41 | ||||||
42,000 | Zhejiang Expressway Co. Ltd., H Shares (Transportation Infrastructure) | 48 | ||||||
16,000 | Zhuzhou CSR Times Electric Co. Ltd. (Electrical Equipment) | 94 | ||||||
174,000 | Zijin Mining Group Co. Ltd., H Shares (Metals & Mining) | 49 | ||||||
18,400 | ZTE Corp., H Shares (Communications Equipment) | 40 | ||||||
22,342 | ||||||||
Colombia — 0.04% | ||||||||
5,141 | Almacenes Exito SA (Food & Staples Retailing) | 63 | ||||||
2,681 | Banco Davivienda SA (Banks) | 32 | ||||||
10,169 | Cementos Argos SA (Construction Materials) | 44 | ||||||
2,171 | Corporacion Financiera Colombiana SA (Diversified Financial Services) | 37 | ||||||
138,764 | Ecopetrol SA (Oil, Gas & Consumable Fuels) | 122 | ||||||
7,583 | Grupo Argos SA (Construction Materials) | 65 | ||||||
6,252 | Grupo de Inversiones Suramericana (Diversified Financial Services) | 104 |
See accompanying notes to financial statements.
77
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Colombia (continued) | ||||||||
9,604 | Interconexion Electrica SA (Electric Utilities) | $ | 35 | |||||
23,886 | ISAGEN SA ESP (Electric Utilities) | 30 | ||||||
532 | ||||||||
Curaçao — 0.09% | ||||||||
13,465 | Schlumberger Ltd. (Energy Equipment & Services) | 1,150 | ||||||
Czech Republic — 0.02% | ||||||||
4,336 | CEZ A/S (Electric Utilities) | 111 | ||||||
450 | Komercni Banka A/S (Banks) | 93 | ||||||
2,643 | Telefonica O2 Czech Republic A/S (Diversified Telecommunication Services) | 27 | ||||||
231 | ||||||||
Denmark — 1.40% | ||||||||
565 | A.P. Moller – Maersk A/S, Class – A (Marine) | 1,081 | ||||||
1,412 | A.P. Moller – Maersk A/S, Class – B (Marine) | 2,809 | ||||||
34,413 | Genmab A/S (Biotechnology) (a) | 1,996 | ||||||
274,768 | Novo Nordisk A/S, Class – B (Pharmaceuticals) | 11,625 | ||||||
1,873 | Rockwool International A/S, B Shares (Building Products) | 211 | ||||||
59,529 | TDC A/S (Diversified Telecommunication Services) | 454 | ||||||
1,441 | Tryg A/S (Insurance) | 161 | ||||||
18,337 | ||||||||
Egypt — 0.02% | ||||||||
24,541 | Commercial International Bank Egypt SAE (Banks) | 168 | ||||||
65,910 | Orascom Telecom Holding SAE (Wireless Telecommunication Services) (a) | 37 | ||||||
25,953 | Talaat Moustafa Group (Real Estate Management & Development) | 35 | ||||||
8,648 | Telecom Egypt Co. (Diversified Telecommunication Services) | 14 | ||||||
254 | ||||||||
Finland — 0.65% | ||||||||
13,095 | Elisa Oyj (Diversified Telecommunication Services) | 357 | ||||||
50,680 | Fortum Oyj (Electric Utilities) | 1,100 | ||||||
24,512 | Metso Oyj (Machinery) | 734 | ||||||
19,874 | Nokian Renkaat Oyj (Auto Components) | 485 | ||||||
18,789 | Orion Oyj, Class – B (Pharmaceuticals) | 584 | ||||||
56,146 | Sampo Oyj, A Shares (Insurance) | 2,629 | ||||||
104,859 | Stora Enso Oyj, R Shares (Paper & Forest Products) | 937 | ||||||
101,096 | UPM-Kymmene Oyj (Paper & Forest Products) | 1,657 | ||||||
8,483 | ||||||||
France — 8.21% | ||||||||
173,671 | AXA SA (Insurance) | 4,001 | ||||||
48,755 | BNP Paribas (Banks) | 2,878 |
Shares | Security Description | Value (000) | ||||||
France (continued) | ||||||||
56,631 | Bouygues SA (Construction & Engineering) | $ | 2,045 | |||||
21,807 | Casino Guichard-Perrachon SA (Food & Staples Retailing) | 2,005 | ||||||
12,028 | CNP Assurances (Insurance) | 213 | ||||||
106,343 | Compagnie de Saint-Gobain (Building Products) | 4,504 | ||||||
43,938 | Compagnie Generale des Etablissements Michelin, Class – B (Tires & Rubber) | 3,966 | ||||||
18,703 | Danone SA (Food Products) | 1,223 | ||||||
31,856 | Edenred (Commercial Services & Supplies) | 881 | ||||||
17,341 | Electricite de France SA (Electric Utilities) | 477 | ||||||
2,378 | Essilor International SA (Health Care Equipment & Supplies) | 265 | ||||||
41,068 | Eutelsat Communications (Media) | 1,328 | ||||||
3,436 | Fonciere des Regions (Real Estate Investment Trusts) | 318 | ||||||
160,289 | GDF Suez (Multi-Utilities) | 3,738 | ||||||
3,345 | Gecina SA (Real Estate Investment Trusts) | 418 | ||||||
238 | Hermes International (Textiles, Apparel & Luxury Goods) | 85 | ||||||
4,411 | Icade (Real Estate Investment Trusts) | 353 | ||||||
5,051 | JC Decaux SA (Media) | 174 | ||||||
12,156 | Klepierre (Real Estate Investment Trusts)ˆ | 521 | ||||||
30,835 | Lagardere SCA (Media) | 803 | ||||||
37,195 | Legrand SA (Electrical Equipment) | 1,951 | ||||||
11,825 | L'Oreal SA (Personal Products) | 1,979 | ||||||
10,001 | LVMH Moet Hennessy Louis Vuitton SA (Textiles, Apparel & Luxury Goods) | 1,584 | ||||||
39,155 | Numericable – SFR (Media) (a)(b) | 1,939 | ||||||
301,612 | Orange (Diversified Telecommunication Services) | 5,128 | ||||||
23,874 | Pernod Ricard SA (Beverages) | 2,653 | ||||||
114 | Publicis Groupe (Media) | 8 | ||||||
11,765 | Renault SA (Automobiles) | 857 | ||||||
57,059 | Rexel SA (Trading Companies & Distributors) | 1,022 | ||||||
15,540 | Safran SA (Aerospace & Defense) | 959 | ||||||
191,553 | Sanofi-Aventis (Pharmaceuticals) | 17,463 | ||||||
53,678 | Schneider Electric SA (Electrical Equipment) | 3,909 | ||||||
11,208 | SCOR SE (Insurance) | 340 | ||||||
15,000 | Societe Generale (Banks) | 628 | ||||||
19,427 | Suez Environnement Co. (Multi-Utilities) | 338 | ||||||
35,063 | Technip SA (Energy Equipment & Services) | 2,088 | ||||||
315,364 | Total SA (Oil, Gas & Consumable Fuels) | 16,155 | ||||||
11,846 | Unibail-Rodamco SE (Real Estate Investment Trusts) | 3,038 | ||||||
24,867 | Veolia Environnement (Multi-Utilities) | 440 | ||||||
146,593 | Vinci SA (Construction & Engineering) | 8,003 | ||||||
173,125 | Vivendi (Diversified Telecommunication Services) | 4,309 | ||||||
82,917 | Zodiac Aerospace (Aerospace & Defense) | 2,791 | ||||||
107,778 |
See accompanying notes to financial statements.
78
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Germany — 7.16% | ||||||||
29,181 | Allianz SE (Insurance) | $ | 4,832 | |||||
7,777 | Axel Springer AG (Media) | 469 | ||||||
123,786 | BASF SE (Chemicals) | 10,382 | ||||||
47,591 | Bayer AG (Pharmaceuticals) | 6,486 | ||||||
72,967 | Bayerische Motoren Werke AG (Automobiles) | 7,874 | ||||||
17,466 | Beiersdorf AG (Personal Products) | 1,418 | ||||||
4,929 | Brenntag AG (Trading Companies & Distributors) | 276 | ||||||
211,417 | Daimler AG (Automobiles) | 17,557 | ||||||
66,928 | Deutsche Bank AG (Capital Markets) | 2,004 | ||||||
9,404 | Deutsche Boerse AG (Diversified Financial Services) | 668 | ||||||
216,359 | Deutsche Post AG (Air Freight & Logistics) | 7,023 | ||||||
316,613 | Deutsche Telekom AG – Registered (Diversified Telecommunication Services) | 5,065 | ||||||
74,275 | Deutsche Wohnen AG (Real Estate Management & Development) | 1,752 | ||||||
88,057 | E.ON AG (Multi-Utilities) | 1,505 | ||||||
11,698 | ElringKlinger AG (Auto Components) | 404 | ||||||
5,598 | Freenet AG (Wireless Telecommunication Services) | 159 | ||||||
2,980 | Hannover Rueckversicherung AG – Registered (Insurance) | 269 | ||||||
6,361 | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | 778 | ||||||
31,234 | Linde AG (Chemicals) | 5,753 | ||||||
7,263 | MTU Aero Engines Holding AG (Aerospace & Defense) | 631 | ||||||
8,767 | Muenchener Rueckversicherungs-Gesellschaft AG – Registered Shares (Insurance) | 1,746 | ||||||
37,387 | ProSiebenSat.1 Media AG (Media) | 1,562 | ||||||
23,883 | RWE AG (Multi-Utilities) | 737 | ||||||
27,075 | SAP AG (Software) | 1,890 | ||||||
111,239 | Siemens AG (Industrial Conglomerates) | 12,480 | ||||||
47,720 | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | 253 | ||||||
93,973 | ||||||||
Greece — 0.04% | ||||||||
107,214 | Alpha Bank AE (Banks) (a) | 60 | ||||||
217,770 | Eurobank Ergasias SA (Banks) (a) | 49 | ||||||
878 | Folli Follie SA (Specialty Retail) | 28 | ||||||
7,230 | Hellenic Telecommunication Organization SA (Diversified Telecommunication Services) (a) | 79 | ||||||
2,958 | JUMBO SA (Specialty Retail) | 30 | ||||||
40,545 | National Bank of Greece SA (Banks) (a) | 71 | ||||||
6,479 | Opap SA (Hotels, Restaurants & Leisure) | 69 | ||||||
58,688 | Piraeus Bank SA (Banks) (a) | 64 | ||||||
2,715 | Public Power Corp. SA (Electric Utilities) (a) | 18 | ||||||
1,466 | Titan Cement Co. SA (Construction Materials) | 34 | ||||||
502 |
Shares | Security Description | Value (000) | ||||||
Hong Kong — 3.90% | ||||||||
1,443,580 | AIA Group Ltd. (Insurance) | $ | 7,962 | |||||
4,094 | Alibaba Group Holding Ltd. (Internet Software & Services) (a) | 425 | ||||||
140,000 | Alibaba Pictures Group Ltd. (Internet Software & Services) (a) | 25 | ||||||
181,500 | Beijing Enterprises Holdings Ltd. (Industrial Conglomerates) | 1,419 | ||||||
126,000 | Belle International Holdings Ltd. (Specialty Retail) | 142 | ||||||
351,555 | BOC Hong Kong (Holdings) Ltd. (Banks) | 1,172 | ||||||
84,000 | Brilliance China Automotive Holdings Ltd. (Automobiles) | 135 | ||||||
101,759 | Cheung Kong Infrastructure Holdings Ltd. (Electric Utilities) | 748 | ||||||
68,000 | China Agri-Industries Holdings Ltd. (Food Products) | 28 | ||||||
405,000 | China Everbright International Ltd. (Commercial Services & Supplies) | 598 | ||||||
26,000 | China Everbright Ltd. (Capital Markets) | 62 | ||||||
54,000 | China Gas Holdings Ltd. (Gas Utilities) | 85 | ||||||
318,330 | China Merchants Holdings (International) Co. Ltd. (Transportation Infrastructure) | 1,069 | ||||||
496,610 | China Mobile Ltd. (Wireless Telecommunication Services) | 5,817 | ||||||
114,000 | China Overseas Land & Investment Ltd. (Real Estate Management & Development) | 337 | ||||||
32,000 | China Resources Enterprises Ltd. (Food & Staples Retailing) | 67 | ||||||
26,000 | China Resources Gas Group Ltd. (Gas Utilities) | 67 | ||||||
54,000 | China Resources Power Holdings Co. Ltd. (Independent Power and Renewable Electricity Producers) | 138 | ||||||
58,000 | China South City Holdings Ltd. (Real Estate Management & Development) | 26 | ||||||
46,000 | China State Construction International Holdings Ltd. (Construction & Engineering) | 64 | ||||||
27,000 | China Taiping Insurance Holdings Co. Ltd. (Insurance) (a) | 77 | ||||||
672,000 | China Unicom (Hong Kong) Ltd. (Diversified Telecommunication Services) | 901 | ||||||
52,000 | CITIC Pacific Ltd. (Industrial Conglomerates) | 89 | ||||||
170,593 | CLP Holdings Ltd. (Electric Utilities) | 1,478 | ||||||
1,513,382 | CNOOC Ltd. (Oil, Gas & Consumable Fuels) | 2,047 | ||||||
70,000 | CSPC Pharmaceutical Group Ltd. (Pharmaceuticals) | 62 | ||||||
164,000 | Evergrande Real Estate Group Ltd. (Real Estate Management & Development) | 66 | ||||||
46,000 | Far East Horizon Ltd. (Diversified Financial Services) | 45 | ||||||
48,500 | Fosun International Ltd. (Metals & Mining) | 63 | ||||||
114,000 | Franshion Properties China Ltd. (Real Estate Management & Development) | 33 |
See accompanying notes to financial statements.
79
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Hong Kong (continued) | ||||||||
74,000 | Guangdong Investment Ltd. (Water Utilities) | $ | 96 | |||||
28,400 | Guangzhou R&F Properties Co. Ltd., H Shares (Real Estate Management & Development) | 35 | ||||||
30,000 | Haier Electronics Group Co. Ltd. (Household Durables) | 71 | ||||||
334,000 | Hanergy Thin Film Power Group Ltd. (Semiconductors & Semiconductor Equipment) | 121 | ||||||
412,675 | Hang Lung Properties Ltd. (Real Estate Management & Development) | 1,151 | ||||||
73,006 | Hang Seng Bank Ltd. (Banks) | 1,213 | ||||||
20,500 | Hengan International Group Co. Ltd. (Personal Products) | 214 | ||||||
1,195,680 | HKT Trust & HKT Ltd. (Diversified Telecommunication Services) | 1,557 | ||||||
86,000 | Hysan Development Co. (Real Estate Management & Development) | 382 | ||||||
124,500 | Kerry Properties Ltd. (Real Estate Management & Development) | 449 | ||||||
174,000 | Lenovo Group Ltd. (Technology Hardware, Storage & Peripherals) | 227 | ||||||
236,000 | Li & Fung Ltd. (Textiles, Apparel & Luxury Goods) | 221 | ||||||
13,700 | Melco Crown Entertainment Ltd., ADR (Hotels, Restaurants & Leisure) | 348 | ||||||
199,874 | MTR Corp. Ltd. (Road & Rail) | 818 | ||||||
974,483 | New World Development Co. Ltd. (Real Estate Management & Development) | 1,119 | ||||||
785,000 | PCCW Ltd. (Diversified Telecommunication Services) | 535 | ||||||
134,224 | Power Assets Holdings Ltd. (Electric Utilities) | 1,298 | ||||||
190,400 | Sands China Ltd. (Hotels, Restaurants & Leisure) | 927 | ||||||
15,000 | Shanghai Industrial Holdings Ltd. (Industrial Conglomerates) | 45 | ||||||
88,000 | Sino Biopharmaceutiical Ltd. (Pharmaceuticals) | 79 | ||||||
473,205 | Sino Land Co. Ltd. (Real Estate Management & Development) | 760 | ||||||
100,000 | Sino-Ocean Land Holdings Ltd. (Real Estate Management & Development) | 56 | ||||||
917,483 | SJM Holdings Ltd. (Hotels, Restaurants & Leisure) | 1,451 | ||||||
305,256 | Sun Hung Kai Properties Ltd. (Real Estate Management & Development) | 4,624 | ||||||
150,708 | Swire Pacific Ltd., Class – A (Real Estate Management & Development) | 1,956 | ||||||
122,404 | The Bank of East Asia Ltd. (Banks) | 492 | ||||||
541,408 | The Link Real Estate Investment Trust (Real Estate Investment Trusts) | 3,390 | ||||||
289,970 | The Wharf (Holdings) Ltd. (Real Estate Management & Development) | 2,082 | ||||||
54,000 | Tingyi (Cayman Islands) Holding Corp. (Food Products) | 123 |
Shares | Security Description | Value (000) | ||||||
Hong Kong (continued) | ||||||||
166,000 | Yuexiu Property Co. Ltd. (Real Estate Management & Development) | $ | 32 | |||||
51,119 | ||||||||
Hungary — 0.01% | ||||||||
1,084 | MOL Hungarian Oil & Gas PLC (Oil, Gas & Consumable Fuels) | 48 | ||||||
6,307 | OTP Bank Nyrt PLC (Banks) | 91 | ||||||
4,016 | Richter Gedeon Nyrt (Pharmaceuticals) | 54 | ||||||
193 | ||||||||
India — 0.10% | ||||||||
41,800 | Infosys Ltd., ADR (IT Services) | 1,315 | ||||||
Indonesia — 0.22% | ||||||||
124,800 | Media Nusantara Citra (Media) | 26 | ||||||
356,700 | PT Adaro Energy Tbk (Oil, Gas & Consumable Fuels) | 29 | ||||||
11,700 | PT Astra Agro Lestari Tbk (Food Products) | 23 | ||||||
561,600 | PT Astra International Tbk (Automobiles) | 335 | ||||||
341,500 | PT Bank Central Asia Tbk (Banks) | 362 | ||||||
80,700 | PT Bank Danamon Indonesia Tbk (Banks) | 29 | ||||||
258,800 | PT Bank Mandiri Tbk (Banks) | 225 | ||||||
194,400 | PT Bank Negara Indonesia Persero Tbk (Banks) | 95 | ||||||
308,600 | PT Bank Rakyat Indonesia Persero Tbk (Banks) | 290 | ||||||
206,500 | PT Bumi Serpong Damai (Real Estate Management & Development) | 30 | ||||||
218,400 | PT Charoen Pokphand Indonesia Tbk (Food Products) | 67 | ||||||
210,300 | PT Global MediaCom Tbk (Media) | 24 | ||||||
14,000 | PT Gudang Garam Tbk (Tobacco) | 69 | ||||||
11,900 | PT Indo Tambangraya Megah Tbk (Oil, Gas & Consumable Fuels) | 15 | ||||||
37,800 | PT Indocement Tunggal Prakarsa Tbk (Construction Materials) | 76 | ||||||
34,100 | PT Indofood CBP Sukses Makmur Tbk (Food Products) | 36 | ||||||
130,600 | PT Indofood Sukses Makmur Tbk (Food Products) | 71 | ||||||
40,800 | PT Jasa Marga Persero Tbk (Transportation Infrastructure) | 23 | ||||||
668,300 | PT Kalbe Farma Tbk (Pharmaceuticals) | 99 | ||||||
590,300 | PT Lippo Karawaci Tbk (Real Estate Management & Development) | 48 | ||||||
44,500 | PT Matahari Department Store Tbk (Multiline Retail) | 54 | ||||||
299,500 | PT Perusahaan Gas Negara Tbk (Gas Utilities) | 145 | ||||||
78,900 | PT Semen Gresik (Persero) Tbk (Construction Materials) | 103 | ||||||
128,800 | PT Surya Citra Media Tbk (Media) | 36 | ||||||
24,700 | PT Tambang Batubara Bukit Asam Tbk (Oil, Gas & Consumable Fuels) | 25 | ||||||
1,339,600 | PT Telekomunikasi Indonesia Persero Tbk (Diversified Telecommunication Services) | 308 |
See accompanying notes to financial statements.
80
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Indonesia (continued) | ||||||||
55,400 | PT Tower Bersama Infrastructure Tbk (Wireless Telecommunication Services) | $ | 43 | |||||
40,300 | PT Unilever Indonesia Tbk (Household Products) | 105 | ||||||
42,800 | PT United Tractors Tbk (Machinery) | 60 | ||||||
80,800 | PT XL Axiata Tbk (Diversified Telecommunication Services) | 32 | ||||||
2,883 | ||||||||
Ireland — 0.61% | ||||||||
2,574,096 | Bank of Ireland (Banks) (a) | 964 | ||||||
42,317 | Covidien PLC (Health Care Equipment & Supplies) | 4,328 | ||||||
90,244 | CRH PLC (Construction Materials) | 2,170 | ||||||
7,057 | Ryanair Holdings PLC, ADR (Airlines) (a) | 503 | ||||||
7,965 | ||||||||
Israel — 0.42% | ||||||||
258,223 | Bezeq The Israeli Telecommunication Corp. Ltd. (Diversified Telecommunication Services) | 459 | ||||||
1,141 | Delek Group Ltd. (Oil, Gas & Consumable Fuels) | 287 | ||||||
127,867 | Israel Chemicals Ltd. (Chemicals) | 922 | ||||||
66,736 | Teva Pharmaceutical Industries Ltd. (Pharmaceuticals) | 3,831 | ||||||
5,499 | ||||||||
Italy — 0.97% | ||||||||
16,163 | Assicurazioni Generali SpA (Insurance) | 332 | ||||||
59,592 | Atlantia SpA (Transportation Infrastructure) | 1,385 | ||||||
237,518 | Enel SpA (Electric Utilities) | 1,059 | ||||||
406,525 | Eni SpA (Oil, Gas & Consumable Fuels) | 7,119 | ||||||
214,240 | Intesa Sanpaolo SpA (Banks) | 621 | ||||||
246,229 | Intesa Sanpaolo SpA (Banks) | 607 | ||||||
73,215 | Snam Rete Gas SpA (Gas Utilities) | 362 | ||||||
609,612 | Telecom Italia SpA (Diversified Telecommunication Services) | 650 | ||||||
434,897 | Telecom Italia SpA (Diversified Telecommunication Services) | 364 | ||||||
54,396 | Terna – Rete Elettrica Nationale SpA (Electric Utilities) | 247 | ||||||
12,746 | ||||||||
Japan — 18.27% | ||||||||
145,886 | Aeon Co. Ltd. (Food & Staples Retailing) | 1,466 | ||||||
6,261 | Aeon Credit Service Co. Ltd. (Consumer Finance) | 124 | ||||||
46,424 | Aisin Seiki Co. Ltd. (Auto Components) | 1,668 | ||||||
30,000 | Ajinomoto Co., Inc. (Food Products) | 559 | ||||||
37,228 | Alfresa Holdings Corp. (Health Care Providers & Services) | 450 | ||||||
63,162 | Aozora Bank Ltd. (Banks) | 196 | ||||||
246,229 | Asahi Glass Co. Ltd. (Building Products)ˆ | 1,199 | ||||||
17,680 | Benesse Holdings, Inc. (Diversified Consumer Services) | 525 | ||||||
153,175 | Bridgestone Corp. (Auto Components) | 5,314 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
274,110 | Canon, Inc. (Technology Hardware, Storage & Peripherals) | $ | 8,714 | |||||
136,577 | Dai Nippon Printing Co. Ltd. (Commercial Services & Supplies) | 1,230 | ||||||
45,963 | Daihatsu Motor Co. Ltd. (Automobiles) | 600 | ||||||
162,578 | Daiichi Sankyo Co. Ltd. (Pharmaceuticals) | 2,274 | ||||||
8,079 | Daito Trust Construction Co. Ltd. (Real Estate Management & Development) | 917 | ||||||
66,950 | Daiwa House Industry Co. Ltd. (Real Estate Management & Development) | 1,265 | ||||||
42,700 | Denso Corp. (Auto Components) | 1,991 | ||||||
19,300 | East Japan Railway Co. (Road & Rail) | 1,455 | ||||||
61,157 | Eisai Co. Ltd. (Pharmaceuticals) | 2,365 | ||||||
15,300 | EXEDY Corp. (Auto Components) | 368 | ||||||
14,459 | FamilyMart Co. Ltd. (Food & Staples Retailing) | 545 | ||||||
7,900 | Fanuc Ltd. (Machinery) | 1,303 | ||||||
43,886 | Fukuoka Financial Group, Inc. (Banks) | 226 | ||||||
38,700 | Hamamatsu Photonics K.K. (Electronic Equipment, Instruments & Components) | 1,843 | ||||||
3,496 | Hikari Tsushin, Inc. (Specialty Retail) | 213 | ||||||
12,065 | Hisamitsu Pharmaceutical Co., Inc. (Pharmaceuticals) | 381 | ||||||
22,741 | Hitachi Construction Machinery Co. Ltd. (Construction & Farm Machinery & Heavy Trucks) | 481 | ||||||
332,000 | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | 2,451 | ||||||
9,541 | Hokuriku Electric Power Co. (Electric Utilities) | 122 | ||||||
375,736 | Honda Motor Co. Ltd. (Automobiles) | 11,025 | ||||||
104,481 | HOYA Corp. (Electronic Equipment, Instruments & Components) | 3,534 | ||||||
20,698 | Idemitsu Kosan Co. Ltd. (Oil, Gas & Consumable Fuels) | 342 | ||||||
633,000 | IHI Corp. (Machinery) | 3,206 | ||||||
34,230 | Iida Group Holdings Co. Ltd. (Household Durables) | 417 | ||||||
370,817 | ITOCHU Corp. (Trading Companies & Distributors) | 3,959 | ||||||
6,036 | ITOCHU Techno-Solutions Corp. (IT Services) | 213 | ||||||
27,141 | Japan Airlines Co. Ltd. (Airlines) | 805 | ||||||
91 | Japan Prime Realty Investment Corp. (Real Estate Investment Trusts) | 317 | ||||||
137 | Japan Real Estate Investment Corp. (Real Estate Investment Trusts) | 660 | ||||||
273 | Japan Retail Fund Investment Corp. (Real Estate Investment Trusts) | 577 | ||||||
273,309 | Japan Tobacco, Inc. (Tobacco) | 7,523 | ||||||
51,000 | JGC Corp. (Construction & Engineering) | 1,050 | ||||||
109,879 | JS Group Corp. (Building Products) | 2,313 | ||||||
44,054 | JSR Corp. (Chemicals) | 756 | ||||||
553,406 | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | 2,155 |
See accompanying notes to financial statements.
81
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
10,600 | Kakaku.com, Inc. (Internet Software & Services) | $ | 152 | |||||
73,570 | Kaneka Corp. (Chemicals) | 394 | ||||||
310,000 | Kawasaki Heavy Industries Ltd. (Machinery) | 1,410 | ||||||
138,527 | KDDI Corp. (Wireless Telecommunication Services) | 8,704 | ||||||
7,620 | Keyence Corp. (Electronic Equipment, Instruments & Components) | 3,396 | ||||||
209,663 | Kirin Holdings Co. Ltd. (Beverages) | 2,606 | ||||||
653,986 | Kobe Steel Ltd. (Metals & Mining) | 1,127 | ||||||
271,945 | Komatsu Ltd. (Machinery) | 6,014 | ||||||
21,247 | Konami Corp. (Home Entertainment Software) | 390 | ||||||
38,000 | Kubota Corp. (Machinery) | 552 | ||||||
82,884 | Kuraray Co. Ltd. (Chemicals) | 942 | ||||||
27,921 | Kurita Water Industries Ltd. (Machinery) | 582 | ||||||
56,568 | Kyowa Hakko Kirin Co. Ltd. (Pharmaceuticals) | 533 | ||||||
15,394 | Lawson, Inc. (Food & Staples Retailing) | 930 | ||||||
481,416 | Marubeni Corp. (Trading Companies & Distributors) | 2,881 | ||||||
11,087 | Maruichi Steel Tube Ltd. (Metals & Mining) | 236 | ||||||
11,831 | Miraca Holdings, Inc. (Health Care Providers & Services) | 509 | ||||||
314,386 | Mitsubishi Chemical Holdings Corp. (Chemicals) | 1,525 | ||||||
369,845 | Mitsubishi Corp. (Trading Companies & Distributors) | 6,768 | ||||||
82,018 | Mitsubishi Gas Chemical Co., Inc. (Chemicals) | 412 | ||||||
236,204 | Mitsubishi Materials Corp. (Metals & Mining) | 784 | ||||||
53,926 | Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals) | 791 | ||||||
903,505 | Mitsubishi UFJ Financial Group, Inc. (Banks) | 4,965 | ||||||
420,588 | Mitsui & Co. Ltd. (Trading Companies & Distributors) | 5,634 | ||||||
1,390,277 | Mizuho Financial Group, Inc. (Banks) | 2,331 | ||||||
28,094 | MS&AD Insurance Group Holdings, Inc. (Insurance) | 666 | ||||||
10,600 | Murata Manufacturing Co. Ltd. (Electronic Equipment, Instruments & Components) | 1,157 | ||||||
81,167 | NGK Insulators Ltd. (Machinery) | 1,664 | ||||||
36,116 | NHK Spring Co. Ltd. (Auto Components) | 314 | ||||||
201,499 | Nikon Corp. (Household Durables) | 2,678 | ||||||
3,300 | Nintendo Co. Ltd. (Software) | 344 | ||||||
155 | Nippon Building Fund, Inc. (Real Estate Investment Trusts) | 778 | ||||||
84,423 | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components) | 380 | ||||||
194,343 | Nippon Express Co. Ltd. (Road & Rail) | 985 | ||||||
2,000 | Nippon Paint Holdings Co. Ltd. (Chemicals) | 58 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
155 | Nippon Prologis REIT, Inc. (Real Estate Investment Trusts) | $ | 337 | |||||
52,281 | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | 2,671 | ||||||
693,054 | Nissan Motor Co. Ltd. (Automobiles) | 6,046 | ||||||
20,817 | NKSJ Holdings, Inc. (Insurance) | 524 | ||||||
13,811 | Nomura Real Estate Holdings, Inc. (Real Estate Management & Development) | 236 | ||||||
41,000 | NSK Ltd. (Machinery) | 484 | ||||||
183,225 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 2,669 | ||||||
194,822 | Oji Paper Co. Ltd. (Paper & Forest Products) | 697 | ||||||
87,100 | Olympus Corp. (Health Care Equipment & Supplies) (a) | 3,052 | ||||||
6,500 | Ono Pharmaceutical Co. Ltd. (Pharmaceuticals) | 576 | ||||||
16,482 | Oracle Corp. Japan (Software) | 672 | ||||||
115,712 | Osaka Gas Co. Ltd. (Gas Utilities) | 432 | ||||||
10,053 | Otsuka Corp. (IT Consulting & Other Services) | 319 | ||||||
88,815 | Otsuka Holdings Co. Ltd. (Pharmaceuticals) | 2,662 | ||||||
24,584 | Park24 Co. Ltd. (Commercial Services & Supplies) | 362 | ||||||
25,000 | Recruit Holdings Co. Ltd. (Professional Services) (a)(b) | 718 | ||||||
125,538 | Resona Holdings, Inc. (Banks) | 634 | ||||||
149,483 | Ricoh Co. Ltd. (Office Electronics) | 1,511 | ||||||
5,300 | Rinnai Corp. (Household Durables) | 356 | ||||||
13,900 | Rohto Pharmaceutical Co. Ltd. (Pharmaceuticals) | 174 | ||||||
5,600 | Ryohin Keikaku Co. (Multiline Retail) | 690 | ||||||
13,215 | Sankyo Co. Ltd. (Leisure Products) | 453 | ||||||
101,793 | Sekisui Chemical Co. Ltd. (Household Durables) | 1,225 | ||||||
130,752 | Sekisui House Ltd. (Household Durables) | 1,721 | ||||||
4,900 | Shimano, Inc. (Leisure Products) | 635 | ||||||
26,300 | Shin-Etsu Chemical Co. Ltd. (Chemicals) | 1,713 | ||||||
43,794 | Showa Shell Sekiyu K.K. (Oil, Gas & Consumable Fuels)ˆ | 431 | ||||||
3,700 | SMC Corp. (Machinery) | 970 | ||||||
70,949 | SoftBank Corp. (Wireless Telecommunication Services) | 4,224 | ||||||
9,208 | Sony Financial Holdings, Inc. (Life & Health Insurance) | 136 | ||||||
335,809 | Sumitomo Chemical Co. Ltd. (Chemicals) | 1,322 | ||||||
274,486 | Sumitomo Corp. (Trading Companies & Distributors) | 2,820 | ||||||
118,226 | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | 1,763 | ||||||
163,148 | Sumitomo Mitsui Financial Group, Inc. (Banks) | 5,899 | ||||||
360,832 | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | 1,382 | ||||||
42,091 | Sumitomo Rubber Industries Ltd. (Auto Components) | 626 |
See accompanying notes to financial statements.
82
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
15,600 | Sysmex Corp. (Health Care Equipment & Supplies) | $ | 692 | |||||
190,911 | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | 7,904 | ||||||
15,642 | The Chugoku Electric Power Co., Inc. (Electric Utilities) | 204 | ||||||
49,420 | The Yokohama Rubber Co. Ltd. (Auto Components) | 450 | ||||||
41,649 | Tokio Marine Holdings, Inc. (Insurance) | 1,352 | ||||||
69,981 | TonenGeneral Sekiyu K.K. (Oil, Gas & Consumable Fuels) | 597 | ||||||
133,522 | Toppan Printing Co. Ltd. (Commercial Services & Supplies) | 868 | ||||||
59,324 | TOTO Ltd. (Building Products) | 690 | ||||||
15,362 | Toyoda Gosei Co. Ltd. (Auto Components) | 309 | ||||||
399,503 | Toyota Motor Corp. (Automobiles) | 24,900 | ||||||
48,070 | Toyota Tsusho Corp. (Trading Companies & Distributors) | 1,117 | ||||||
53,427 | Trend Micro, Inc. (Software)ˆ | 1,477 | ||||||
12,000 | Unicharm Corp. (Household Products) | 288 | ||||||
273 | United Urban Investment Corp. (Real Estate Investment Trusts) | 430 | ||||||
53,789 | USS Co. Ltd. (Specialty Retail) | 826 | ||||||
41,119 | West Japan Railway Co. (Road & Rail) | 1,944 | ||||||
450,500 | Yahoo Japan Corp. (Internet Software & Services) | 1,615 | ||||||
10,500 | Yamato Holdings Co. Ltd. (Air Freight & Logistics) | 208 | ||||||
239,702 | ||||||||
Jersey — 0.33% | ||||||||
294,093 | Glencore International PLC (Metals & Mining) | 1,357 | ||||||
23,275 | Petrofac Ltd. (Energy Equipment & Services) | 254 | ||||||
14,610 | Wolseley PLC (Trading Companies & Distributors) | 835 | ||||||
90,235 | WPP PLC (Media) | 1,876 | ||||||
4,322 | ||||||||
Korea, Republic Of — 0.00% | ||||||||
463 | KEPCO Plant Service & Engineering Co. Ltd. (Commercial Services & Supplies) | 34 | ||||||
Luxembourg — 0.43% | ||||||||
49,423 | GAGFAH SA (Real Estate Management & Development) (a) | 1,104 | ||||||
6,616 | RTL Group (Media) | 631 | ||||||
107,370 | SES – FDR, Class – A (Media) | 3,860 | ||||||
5,595 | ||||||||
Malaysia — 0.29% | ||||||||
40,200 | Airasia Berhad (Airlines) | 31 | ||||||
30,000 | Alliance Financial Group Berhad (Banks) | 40 | ||||||
48,300 | AMMB Holdings Berhad (Banks) | 91 | ||||||
46,300 | Astro Malaysia Holdings Berhad (Media) | 40 | ||||||
70,200 | Axiata Group Berhad (Wireless Telecommunication Services) | 141 |
Shares | Security Description | Value (000) | ||||||
Malaysia (continued) | ||||||||
21,897 | Berjaya Sports Toto Berhard (Hotels, Restaurants & Leisure) | $ | 22 | |||||
3,800 | British American Tobacco Malaysia Berhad (Tobacco) | 70 | ||||||
49,800 | Bumi Armada Berhad (Energy Equipment & Services) | 16 | ||||||
137,900 | CIMB Group Holdings Berhad (Banks) | 219 | ||||||
92,736 | Dialog Group Berhad (Construction & Engineering) | 40 | ||||||
89,200 | DiGi.Com Berhad (Wireless Telecommunication Services) | 158 | ||||||
25,500 | Felda Global Ventures Holdings Berhad (Food Products) | 16 | ||||||
40,000 | Gamuda Berhad (Construction & Engineering) | 57 | ||||||
59,500 | Genting Berhad (Hotels, Restaurants & Leisure) | 151 | ||||||
85,400 | Genting Malaysia Berhad (Hotels, Restaurants & Leisure) | 99 | ||||||
7,800 | Genting Plantations Berhad (Food Products) | 22 | ||||||
14,500 | Hong Leong Bank Berhad (Banks) | 58 | ||||||
6,900 | Hong Leong Financial Group Berhad (Banks) | 32 | ||||||
67,200 | Ihh Healthcare Berhad (Health Care Providers & Services) | 93 | ||||||
32,400 | IJM Corp. Berhad (Construction & Engineering) | 61 | ||||||
85,500 | IOI Corp. Berhad (Food Products) | 118 | ||||||
39,800 | IOI Properties Group Berhad (Real Estate Management & Development) | 27 | ||||||
10,700 | Kuala Lumpur Kepong Berhad (Food Products) | 70 | ||||||
11,600 | Lafarge Malayan Cement Berhad (Construction Materials) | 32 | ||||||
122,900 | Malayan Banking Berhad (Banks) | 322 | ||||||
16,400 | Malaysia Airports holdings Berhad (Transportation Infrastructure) | 32 | ||||||
55,600 | Maxis Berhad (Wireless Telecommunication Services) | 109 | ||||||
31,700 | MISC Berhad (Marine) | 65 | ||||||
76,600 | Petronas Chemicals Group Berhad (Chemicals) | 119 | ||||||
7,000 | Petronas Dagangan Berhad (Oil, Gas & Consumable Fuels) | 34 | ||||||
16,100 | Petronas Gas Berhad (Gas Utilities) | 102 | ||||||
13,300 | PPB Group Berhad (Food Products) | 54 | ||||||
73,800 | Public Bank Berhad (Banks) | 387 | ||||||
16,600 | RHB Capital Berhad (Banks) | 36 | ||||||
97,700 | SapuraKencana Petroleum Berhad (Energy Equipment & Services) | 64 | ||||||
81,000 | Sime Darby Berhad (Industrial Conglomerates) | 213 | ||||||
29,200 | Telekom Malaysia Berhad (Diversified Telecommunication Services) | 57 | ||||||
79,500 | Tenega Nasional Berhad (Electric Utilities) | 314 |
See accompanying notes to financial statements.
83
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Malaysia (continued) | ||||||||
29,300 | UEM Sunrise Berhad (Real Estate Management & Development) | $ | 12 | |||||
16,100 | UMW Holdings Berhad (Automobiles) | 51 | ||||||
128,000 | YTL Corp. Berhad (Multi-Utilities) | 58 | ||||||
49,200 | YTL Power International Berhad (Multi-Utilities) | 21 | ||||||
3,754 | ||||||||
Malta — 0.00% | ||||||||
8,581 | Brait SE (Diversified Financial Services) | 58 | ||||||
Mexico — 0.55% | ||||||||
78,900 | Alfa SAB de CV, Class – A (Industrial Conglomerates) (a) | 176 | ||||||
942,000 | America Movil SAB de CV (Wireless Telecommunication Services) | 1,047 | ||||||
9,700 | Arca Continental SAB de CV (Beverages) (a) | 61 | ||||||
15,800 | Cemex SAB de CV, ADR (Construction Materials) (a) | 161 | ||||||
327,564 | Cemex SAB de CV (Construction Materials) (a) | 334 | ||||||
10,500 | Coca-Cola FEMSA SAB de CV, Series L (Beverages) | 90 | ||||||
33,200 | Compartamos SAB de CV (Consumer Finance) (a) | 67 | ||||||
12,400 | Controladora Comercial Mexicana SAB de C.V (Food & Staples Retailing) | 44 | ||||||
5,400 | El Puerto de Liverpool SAB de CV, Class – C1 (Multiline Retail) (a) | 54 | ||||||
61,200 | Fibra Uno Amdinistracion SA (Real Estate Investment Trusts) | 180 | ||||||
53,200 | Fomento Economico Mexicano SAB de CV (Beverages) (a) | 473 | ||||||
24,200 | Genomma Lab Internacional SAB de CV, B Shares (Pharmaceuticals) (a) | 46 | ||||||
3,900 | Gruma, S.A.B de CV, Class – B (Food Products) | 42 | ||||||
9,100 | Grupo Aeroportuario del Pacifico SAB de CV, B Shares (Transportation Infrastructure) | 57 | ||||||
6,200 | Grupo Aeroportuario del Sureste SAB de CV, Class – B (Transportation Infrastructure) (a) | 82 | ||||||
45,900 | Grupo Bimbo SAB de CV (Food Products) (a) | 126 | ||||||
16,100 | Grupo Carso SAB de CV, Series A1 (Industrial Conglomerates) | 79 | ||||||
10,900 | Grupo Comercial Chedraui SAB de CV (Food & Staples Retailing) (a) | 31 | ||||||
69,300 | Grupo Financiero Banorte SAB de CV (Banks) | 381 | ||||||
64,600 | Grupo Financiero Inbursa, SAB de CV, Class – O (Banks) | 167 | ||||||
49,700 | Grupo Financiero Santander Mexico SAB de CV, B Shares (Banks) | 104 | ||||||
9,400 | Grupo Lala SAB de CV (Food Products) (a) | 18 | ||||||
102,700 | Grupo Mexico SAB de CV, Series B (Metals & Mining) | 298 | ||||||
55,723 | Grupo Televisa SA, ADR (Media) | 1,899 |
Shares | Security Description | Value (000) | ||||||
Mexico (continued) | ||||||||
72,200 | Grupo Televisa SAB de CV (Media) (a) | $ | 492 | |||||
3,610 | Industrias Penoles SAB de CV (Metals & Mining) | 71 | ||||||
42,800 | Kimberly-Clark de Mexico SAB de CV, A Shares (Household Products) | 93 | ||||||
26,900 | Mexichem SAB de CV (Chemicals) (a) | 82 | ||||||
19,800 | Minera Frisco SAB de CV, Class – A1 (Metals & Mining) (a) | 29 | ||||||
17,300 | Ohl Mexico SAB de CV (Transportation Infrastructure) (a) | 32 | ||||||
7,200 | Promotora y Operadora de Infraestructura SAB de CV (Construction & Engineering) (a) | 87 | ||||||
142,700 | Wal-Mart de Mexico SAB de CV, Series V (Food & Staples Retailing) | 307 | ||||||
7,210 | ||||||||
Netherlands — 3.14% | ||||||||
39,511 | AEGON NV (Insurance) | 297 | ||||||
73,066 | Akzo Nobel NV (Chemicals) | 5,054 | ||||||
70,499 | ASML Holding NV (Semiconductors & Semiconductor Equipment) | 7,617 | ||||||
8,061 | ASML Holding NV, NYS (Semiconductors & Semiconductor Equipment) | 870 | ||||||
2,379 | Corio NV (Real Estate Investment Trusts) | 116 | ||||||
4,776 | Delta Lloyd NV (Insurance) | 105 | ||||||
14,545 | European Aeronautic Defence & Space Co. (Aerospace & Defense) | 719 | ||||||
27,272 | Gemalto NV (Software)ˆ | 2,225 | ||||||
57,146 | ING Groep NV (Banks) (a) | 738 | ||||||
86,308 | Koninklijke Ahold NV (Food & Staples Retailing) | 1,534 | ||||||
6,698 | Koninklijke Boskalis Westminster NV (Construction & Engineering) | 366 | ||||||
49,856 | Koninklijke DSM NV (Chemicals) | 3,041 | ||||||
98,545 | Koninklijke Philips Electronics NV (Industrial Conglomerates) | 2,856 | ||||||
8,511 | Randstad Holding NV (Professional Services) | 409 | ||||||
196,112 | Reed Elsevier NV (Media) | 4,683 | ||||||
202,147 | TNT NV (Air Freight & Logistics) (a) | 751 | ||||||
221,185 | Unilever NV (Food Products) | 8,652 | ||||||
26,170 | Wolters Kluwer NV (Media) | 798 | ||||||
19,800 | Yandex NV (Internet Software & Services) (a) | 356 | ||||||
41,187 | ||||||||
New Zealand — 0.08% | ||||||||
57,838 | Auckland International Airport Ltd. (Transportation Infrastructure) | 190 | ||||||
156,000 | Infratil Ltd. (Electric Utilities) | 365 | ||||||
194,219 | Telecom Corp. of New Zealand Ltd. (Diversified Telecommunication Services) | 471 | ||||||
1,026 | ||||||||
Norway — 0.55% | ||||||||
41,783 | DNB ASA (Banks) | 617 | ||||||
9,932 | Gjensidige Forsikring ASA (Insurance) | 162 | ||||||
153,681 | Orkla ASA (Food Products) | 1,047 |
See accompanying notes to financial statements.
84
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Norway (continued) | ||||||||
221,654 | Statoil ASA (Oil, Gas & Consumable Fuels) | $ | 3,905 | |||||
75,301 | Telenor ASA (Diversified Telecommunication Services) | 1,524 | ||||||
7,255 | ||||||||
Papua New Guinea — 0.12% | ||||||||
242,173 | Oil Search Ltd. (Oil, Gas & Consumable Fuels) | 1,553 | ||||||
Peru — 0.03% | ||||||||
5,500 | Compania de Minas Buenaventura SA, ADR (Metals & Mining) | 53 | ||||||
1,900 | Credicorp Ltd. (Banks) | 304 | ||||||
357 | ||||||||
Philippines — 0.10% | ||||||||
56,900 | Aboitiz Equity Ventures, Inc. (Industrial Conglomerates) | 66 | ||||||
38,300 | Aboitiz Power Corp. (Independent Power and Renewable Electricity Producers) | 36 | ||||||
60,300 | Alliance Global Group, Inc. (Industrial Conglomerates) | 30 | ||||||
5,390 | Ayala Corp. (Diversified Financial Services) | 83 | ||||||
194,900 | Ayala Land, Inc. (Real Estate Management & Development) | 145 | ||||||
22,490 | Bank of the Philippine Islands (Banks) | 47 | ||||||
39,960 | BDO Unibank, Inc. (Banks) | 97 | ||||||
115,800 | DMCI Holdings, Inc. (Industrial Conglomerates) | 41 | ||||||
248,700 | Energy Development Corp. (Independent Power and Renewable Electricity Producers) | 46 | ||||||
1,060 | Globe Telecom, Inc. (Wireless Telecommunication Services) | 41 | ||||||
15,140 | International Container Terminal Services, Inc. (Transportation Infrastructure) | 39 | ||||||
70,900 | JG Summit Holdings, Inc. (Industrial Conglomerates) | 104 | ||||||
12,380 | Jollibee Foods Corp. (Hotels, Restaurants & Leisure) | 59 | ||||||
346,000 | Megaworld Corp. (Real Estate Management & Development) | 36 | ||||||
324,000 | Metro Pacific Investments Corp. (Diversified Financial Services) | 33 | ||||||
14,460 | Metropolitan Bank & Trust Co. (Banks) | 27 | ||||||
2,425 | Philippine Long Distance Telephone Co. (Wireless Telecommunication Services) | 156 | ||||||
4,130 | SM Investments Corp. (Industrial Conglomerates) | 75 | ||||||
176,200 | SM Prime Holdings, Inc. (Real Estate Management & Development) | 67 | ||||||
25,390 | Universal Robina Corp. (Food Products) | 111 | ||||||
1,339 | ||||||||
Poland — 0.13% | ||||||||
1,346 | Alior Bank SA (Banks) (a) | 30 | ||||||
971 | Bank Handlowy w Warszawie SA (Banks) | 29 | ||||||
13,300 | Bank Millennium SA (Banks) | 31 |
Shares | Security Description | Value (000) | ||||||
Poland (continued) | ||||||||
3,628 | Bank Pekao SA (Banks) | $ | 183 | |||||
969 | Bank Zachodni WBK SA (Banks) | 102 | ||||||
238 | CCC SA (Textiles, Apparel & Luxury Goods) | 9 | ||||||
5,459 | Cyfrowy Polsat SA (Media) | 36 | ||||||
6,568 | Enea SA (Electric Utilities) | 28 | ||||||
3,594 | Energa SA (Electric Utilities) | 23 | ||||||
1,813 | Eurocash SA (Food & Staples Retailing) | 19 | ||||||
47,826 | Getin Nobel Bank SA (Banks) (a) | 29 | ||||||
1,261 | Grupa Azoty SA (Chemicals) | 23 | ||||||
2,309 | Grupa Lotos SA (Oil, Gas & Consumable Fuels) (a) | 17 | ||||||
3,832 | KGHM Polska Miedz SA (Metals & Mining) | 117 | ||||||
20 | LPP SA (Textiles, Apparel & Luxury Goods) | 41 | ||||||
439 | mBank SA (Banks) | 62 | ||||||
21,551 | PGE SA (Electric Utilities) | 115 | ||||||
8,827 | Polski Koncern Naftowy Orlen SA (Oil, Gas & Consumable Fuels) | 120 | ||||||
52,480 | Polskie Gornictwo Naftowe i Gazownictwo SA (Oil, Gas & Consumable Fuels) | 66 | ||||||
24,137 | Powszechna Kasa Oszczednosci Bank Polski SA (Banks) | 242 | ||||||
1,552 | Powszechny Zaklad Ubezpieczen SA (Insurance) | 212 | ||||||
16,485 | Synthos SA (Chemicals) | 19 | ||||||
32,573 | Tauron Polska Energia SA (Electric Utilities) | 46 | ||||||
19,720 | Telekomunikacja Polska SA (Diversified Telecommunication Services) | 46 | ||||||
1,645 | ||||||||
Portugal — 0.13% | ||||||||
431,350 | EDP – Energias de Portugal SA (Electric Utilities) | 1,672 | ||||||
Qatar — 0.07% | ||||||||
2,648 | Barwa Real Estate Co. (Real Estate Management & Development) | 30 | ||||||
4,381 | Doha Bank Qsc (Banks) | 68 | ||||||
627 | Gulf International Services QSC (Oil, Gas & Consumable Fuels) | 17 | ||||||
4,122 | Industries Qatar Q.S.C. (Industrial Conglomerates) | 188 | ||||||
10,143 | Masraf Al Rayan (Banks) | 121 | ||||||
2,222 | Ooredoo Qsc (Diversified Telecommunication Services) | 75 | ||||||
760 | Qatar Electricity & Water Co. (Multi-Utilities) | 39 | ||||||
1,950 | Qatar Islamic Bank (Banks) | 54 | ||||||
4,414 | Qatar National Bank (Banks) | 255 | ||||||
1,440 | The Commercial Bank of Qatar QSC (Banks) | 27 | ||||||
9,533 | Vodafone Qatar (Wireless Telecommunication Services) | 42 | ||||||
916 | ||||||||
Russia — 0.26% | ||||||||
38,600 | ALROSA AO (Metals & Mining) | 39 | ||||||
3,371,000 | Federal Hydrogenerating Co. (Electric Utilities) | 29 |
See accompanying notes to financial statements.
85
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Russia (continued) | ||||||||
324,727 | Gazprom OAO (Oil, Gas & Consumable Fuels) | $ | 697 | |||||
4,645 | LUKOIL OAO, ADR (Oil, Gas & Consumable Fuels) | 178 | ||||||
13,964 | LUKOIL OAO (Oil, Gas & Consumable Fuels) | 506 | ||||||
7,098 | Magnit OJSC, Registered Shares, GDR (Food & Staples Retailing) | 321 | ||||||
2,606 | MegaFon OAO, GDR (Wireless Telecommunication Services) | 36 | ||||||
1,571 | Mining and Metallurgical Co. Norilsk Nickel OJSC (Metals & Mining) | 209 | ||||||
14,600 | Mobile TeleSystems OJSC, ADR (Wireless Telecommunication Services) | 104 | ||||||
2,542 | NovaTek OAO, Registered Shares, GDR (Oil, Gas & Consumable Fuels) | 198 | ||||||
33,780 | Rosneft Oil (Oil, Gas & Consumable Fuels) | 108 | ||||||
18,370 | Rostelecom OJSC (Diversified Telecommunication Services) | 26 | ||||||
45,432 | Sberbank of Russia, ADR (Banks) | 176 | ||||||
291,070 | Sberbank of Russia (Banks) | 256 | ||||||
5,750 | Severstal (Metals & Mining) | 47 | ||||||
3,825 | Sistema JSFC – Registered, GDR (Wireless Telecommunication Services) | 20 | ||||||
208,800 | Surgutneftegas (Oil, Gas & Consumable Fuels) | 81 | ||||||
39,860 | Tatneft, Class – S (Oil, Gas & Consumable Fuels) | 150 | ||||||
37,470 | Uralkali OJSC (Chemicals) | 78 | ||||||
135,270,000 | VTB Bank OJSC (Banks) | 148 | ||||||
3,407 | ||||||||
Singapore — 1.46% | ||||||||
385,772 | Ascendas Real Estate Investment Trust (Real Estate Investment Trusts) | 692 | ||||||
384,944 | CapitaCommercial Trust (Real Estate Investment Trusts) | 508 | ||||||
458,015 | CapitaMall Trust (Real Estate Investment Trusts) | 704 | ||||||
11,898 | DBS Group Holdings Ltd. (Banks) | 184 | ||||||
1,667,441 | Hutchison Port Holdings Trust (Transportation Infrastructure) | 1,146 | ||||||
548,699 | Keppel Corp. Ltd. (Industrial Conglomerates) | 3,658 | ||||||
131,390 | Keppel Land Ltd. (Real Estate Management & Development) | 339 | ||||||
266,608 | Olam International Ltd. (Food & Staples Retailing) | 405 | ||||||
119,000 | SembCorp Industries Ltd. (Industrial Conglomerates) | 399 | ||||||
594,317 | SembCorp Marine Ltd. (Machinery)ˆ | 1,459 | ||||||
76,300 | Singapore Exchange Ltd. (Diversified Financial Services) | 449 | ||||||
465,281 | Singapore Press Holdings Ltd. (Media) | 1,477 | ||||||
369,527 | Singapore Tech Engineering (Aerospace & Defense) | 946 |
Shares | Security Description | Value (000) | ||||||
Singapore (continued) | ||||||||
1,742,079 | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | $ | 5,114 | |||||
114,226 | StarHub Ltd. (Wireless Telecommunication Services) | 357 | ||||||
447,980 | Suntec REIT (Real Estate Investment Trusts) | 663 | ||||||
692,236 | Yangzijiang Shipbuilding Holdings Ltd. (Machinery) | 627 | ||||||
19,127 | ||||||||
South Africa — 0.69% | ||||||||
43,895 | African Bank Investments Ltd. (Diversified Financial Services) (a)(c) | — | ||||||
3,271 | African Rainbow Minerals Ltd. (Metals & Mining) | 34 | ||||||
1,170 | Anglo Platinum Ltd. (Metals & Mining) (a) | 34 | ||||||
11,265 | AngloGold Ashanti Ltd. (Metals & Mining) (a) | 98 | ||||||
8,576 | Aspen Pharmacare Holdings Ltd. (Pharmaceuticals) | 299 | ||||||
1,027 | Assore Ltd. (Metals & Mining) | 13 | ||||||
9,306 | Barclays Africa Group Ltd. (Banks) | 146 | ||||||
5,507 | Barloworld Ltd. (Trading Companies & Distributors) | 45 | ||||||
8,487 | Bidvest Group Ltd. (Industrial Conglomerates) | 222 | ||||||
6,365 | Coronation Fund Managers Ltd. (Capital Markets) | 63 | ||||||
8,906 | Discovery Ltd. (Insurance) | 85 | ||||||
3,474 | Exxaro Resources Ltd. (Oil, Gas & Consumable Fuels) | 31 | ||||||
85,358 | FirstRand Ltd. (Diversified Financial Services) | 372 | ||||||
23,078 | Gold Fields Ltd. (Metals & Mining) | 105 | ||||||
55,514 | Growthpoint Properties Ltd. (Real Estate Investment Trusts) | 132 | ||||||
14,854 | Impala Platinum Holdings Ltd. (Metals & Mining) (a) | 97 | ||||||
5,145 | Imperial Holdings Ltd. (Distributors) | 82 | ||||||
6,725 | Investec Ltd. (Capital Markets) | 56 | ||||||
1,805 | Kumba Iron Ore Ltd. (Metals & Mining) | 37 | ||||||
3,592 | Liberty Holdings Ltd. (Insurance) | 38 | ||||||
27,750 | Life Healthcare Group Holdings Ltd. (Health Care Providers & Services) | 103 | ||||||
2,604 | Massmart Holdings Ltd. (Food & Staples Retailing) | 32 | ||||||
11,339 | Mediclinic International Ltd. (Health Care Providers & Services) | 98 | ||||||
28,315 | MMI Holdings Ltd. (Insurance) | 73 | ||||||
15,582 | Mr. Price Group Ltd. (Specialty Retail) | 315 | ||||||
46,098 | MTN Group Ltd. (Wireless Telecommunication Services) | 878 | ||||||
17,884 | Nampak Ltd. (Containers & Packaging) | 67 | ||||||
13,254 | Naspers Ltd. (Media) | 1,717 | ||||||
5,585 | Nedbank Group Ltd. (Banks) | 120 | ||||||
29,026 | Netcare Ltd. (Health Care Providers & Services) | 95 |
See accompanying notes to financial statements.
86
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
South Africa (continued) | ||||||||
6,007 | Pick n Pay Stores Ltd. (Food & Staples Retailing) | $ | 27 | |||||
13,295 | PPC Ltd. (Construction Materials) | 32 | ||||||
91,563 | Redefine Properties Ltd. (Real Estate Management & Development) | 85 | ||||||
13,249 | Remgro Ltd. (Diversified Financial Services) | 290 | ||||||
8,032 | Resilient Property Income Fund Ltd. (Real Estate Investment Trusts) | 58 | ||||||
20,460 | RMB Holdings Ltd. (Diversified Financial Services) | 113 | ||||||
17,162 | RMI Holdings Ltd. (Insurance) | 61 | ||||||
4,340 | Samsung Heavy Industries Co. Ltd. (Machinery) | 78 | ||||||
49,668 | Sanlam Ltd. (Insurance) | 300 | ||||||
14,462 | Sappi Ltd. (Paper & Forest Products) (a) | 52 | ||||||
15,246 | Sasol Ltd. (Oil, Gas & Consumable Fuels) | 570 | ||||||
37,253 | Shoprite Holdings Ltd. (Food & Staples Retailing) | 539 | ||||||
33,405 | Standard Bank Group Ltd. (Banks) | 411 | ||||||
56,723 | Steinhoff International Holdings Ltd. (Household Durables) | 290 | ||||||
5,590 | Telkom SA SOC Ltd. (Diversified Telecommunication Services) (a) | 34 | ||||||
5,896 | The Foschini Group Ltd. (Specialty Retail) | 68 | ||||||
4,499 | The Spar Group Ltd. (Food & Staples Retailing) | 63 | ||||||
4,444 | Tiger Brands Ltd. (Food Products) | 141 | ||||||
10,682 | Truworths International Ltd. (Specialty Retail) | 71 | ||||||
5,067 | Tsogo Sun Holdings Ltd. (Hotels Restaurants & Leisure) | 13 | ||||||
10,004 | Vodacom Group Ltd. (Wireless Telecommunication Services) | 111 | ||||||
25,278 | Woolworths Holdings Ltd. (Multiline Retail) | 168 | ||||||
9,062 | ||||||||
South Korea — 1.72% | ||||||||
94 | Amorepacific Corp. (Personal Products) (a) | 190 | ||||||
83 | Amorepacific Group (Personal Products) | 75 | ||||||
5,701 | BS Financial Group, Inc. (Banks) | 75 | ||||||
1,935 | Celltrion, Inc. (Pharmaceuticals) (a) | 68 | ||||||
2,220 | Cheil Worldwide, Inc. (Media) (a) | 35 | ||||||
211 | CJ Cheiljedang Corp. (Food Products) | 59 | ||||||
374 | CJ Corp. (Industrial Conglomerates) (a) | 53 | ||||||
73 | CJ Korea Express Co. Ltd. (Road & Rail) (a) | 13 | ||||||
1,590 | Coway Co. Ltd. (Household Durables) | 121 | ||||||
651 | Daelim Industrial Co. Ltd. (Construction & Engineering) | 39 | ||||||
3,090 | Daewoo Engineering & Construction Co. Ltd. (Construction & Engineering) (a) | 16 | ||||||
1,370 | Daewoo International Corp. (Trading Companies & Distributors) (a) | 39 | ||||||
5,070 | Daewoo Securities Co. Ltd. (Capital Markets) (a) | 45 |
Shares | Security Description | Value (000) | ||||||
South Korea (continued) | ||||||||
2,810 | Daewoo Shipbuilding & Marine Engineering Co. Ltd. (Machinery) | $ | 47 | |||||
658 | Daum Kakao Corp. (Internet Software & Services) | 74 | ||||||
3,750 | DGB Financial Group, Inc. (Banks) | 39 | ||||||
1,260 | Dongbu Insurance Co. Ltd. (Insurance) | 63 | ||||||
180 | Doosan Corp. (Industrial Conglomerates) | 17 | ||||||
1,410 | Doosan Heavy Industries & Construction Co. Ltd. (Construction & Engineering) | 30 | ||||||
3,320 | Doosan Infracore Co. Ltd. (Machinery) (a) | 29 | ||||||
576 | E-Mart Co. Ltd. (Food & Staples Retailing) | 107 | ||||||
1,415 | GS Engineering & Construction Corp. (Construction & Engineering) (a) | 30 | ||||||
1,324 | GS Holdings Corp. (Oil, Gas & Consumable Fuels) | 48 | ||||||
1,110 | Halla Climate Control Corp. (Auto Components) (a) | 49 | ||||||
7,940 | Hana Financial Group, Inc. (Banks) | 230 | ||||||
2,008 | Hankook Tire Co. Ltd. (Auto Components) | 96 | ||||||
2,680 | Hanwha Chemical Corp. (Chemicals) | 28 | ||||||
1,430 | Hanwha Corp. (Chemicals) | 40 | ||||||
439 | Honam Petrochemical Corp. (Chemicals) | 64 | ||||||
726 | Hotel Shilla Co. Ltd. (Hotels, Restaurants & Leisure) | 60 | ||||||
15,740 | Hynix Semiconductor, Inc. (Semiconductors & Semiconductor Equipment) (a) | 673 | ||||||
627 | Hyosung Corp. (Chemicals) | 39 | ||||||
451 | Hyundai Department Store (Multiline Retail) | 50 | ||||||
1,690 | Hyundai Development Co. (Construction & Engineering) | 59 | ||||||
1,892 | Hyundai Engineering & Construction Co. Ltd. (Construction & Engineering) | 73 | ||||||
374 | Hyundai Glovis Co. Ltd. (Air Freight & Logistics) | 99 | ||||||
1,058 | Hyundai Heavy Industries Co. Ltd. (Machinery) | 110 | ||||||
1,900 | Hyundai Marine & Fire Insurance Co. Ltd. (Insurance) | 45 | ||||||
3,200 | Hyundai Merchant Marine Co. Ltd. (Marine) (a) | 29 | ||||||
318 | Hyundai Mipo Dockyard Co. (Machinery) | 20 | ||||||
5,040 | Hyundai Mobis Co. Ltd. (Automobiles) | 1,078 | ||||||
15,563 | Hyundai Motor Co. Ltd. (Automobiles) | 2,377 | ||||||
1,918 | Hyundai Steel Co. (Metals & Mining) | 110 | ||||||
464 | Hyundai Wia Corp. (Auto Components) | 74 | ||||||
6,747 | Industrial Bank of Korea (Banks) | 86 | ||||||
910 | Jinro Ltd. (Beverages) | 19 | ||||||
2,770 | Kangwon Land, Inc. (Hotels, Restaurants & Leisure) | 76 | ||||||
10,454 | KB Financial Group, Inc. (Banks) | 342 | ||||||
135 | KCC Corp. (Building Products) | 64 | ||||||
7,307 | Kia Motors Corp. (Automobiles) | 347 | ||||||
1,180 | Korea Aerospace Industries Ltd. (Aerospace & Defense) | 43 |
See accompanying notes to financial statements.
87
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
South Korea (continued) | ||||||||
7,160 | Korea Electric Power Corp. (Electric Utilities) | $ | 276 | |||||
830 | Korea Gas Corp. (Gas Utilities) (a) | 37 | ||||||
990 | Korea Investment Holdings Co. Ltd. (Capital Markets) | 44 | ||||||
307 | Korea Kumho Petrochemical Co. Ltd. (Chemicals) | 22 | ||||||
6,430 | Korea Life Insurance Co. Ltd. (Insurance) | 49 | ||||||
249 | Korea Zinc Co. Ltd. (Metals & Mining) | 91 | ||||||
900 | Korean Air Lines Co. Ltd. (Airlines) (a) | 39 | ||||||
1,680 | KT Corp. (Diversified Telecommunication Services) | 48 | ||||||
27,303 | KT&G Corp. (Tobacco) | 1,896 | ||||||
1,293 | LG Chem Ltd. (Chemicals) | 212 | ||||||
2,656 | LG Corp. (Industrial Conglomerates) | 148 | ||||||
6,520 | LG Display Co. Ltd. (Electronic Equipment, Instruments & Components) (a) | 198 | ||||||
2,944 | LG Electronics, Inc. (Household Durables) | 158 | ||||||
877 | LG Household & Health Care Ltd. (Household Products) | 497 | ||||||
362 | LG Innotek Co. Ltd. (Electronic Equipment, Instruments & Components) (a) | 37 | ||||||
5,540 | LG UPlus Corp. (Diversified Telecommunication Services) | 57 | ||||||
21 | Lotte Confectionery Co. Ltd. (Food Products) (a) | 34 | ||||||
325 | Lotte Shopping Co. Ltd. (Multiline Retail) | 81 | ||||||
425 | LS Corp. (Electrical Equipment) | 21 | ||||||
491 | LS Industrial Systems Co. Ltd. (Electrical Equipment) | 27 | ||||||
809 | Mirae Asset Securities Co. Ltd. (Capital Markets) | 31 | ||||||
1,140 | Naver Corp. (Internet Software & Services) | 730 | ||||||
396 | NCsoft Corp. (Software) | 65 | ||||||
435 | OCI Co. Ltd. (Chemicals) (a) | 31 | ||||||
104 | Orion Corp. (Food Products) | 96 | ||||||
1,870 | Paradise Co. Ltd. (Hotels, Restaurants & Leisure) | 40 | ||||||
1,779 | POSCO (Metals & Mining) | 448 | ||||||
498 | S1 Corp. (Commercial Services & Supplies) | 32 | ||||||
3,479 | Samsung C&T Corp. (Trading Companies & Distributors) | 195 | ||||||
890 | Samsung Card Co. Ltd. (Consumer Finance) | 36 | ||||||
1,598 | Samsung Electro-Mechanics Co. Ltd. (Electronic Equipment, Instruments & Components) | 79 | ||||||
3,831 | Samsung Electronics Co. Ltd. (Semiconductors & Semiconductor Equipment) | 4,605 | ||||||
740 | Samsung Engineering Co. Ltd. (Construction & Engineering) (a) | 25 | ||||||
927 | Samsung Fire & Marine Insurance Co. Ltd. (Insurance) | 238 | ||||||
1,698 | Samsung Life Insurance Co. Ltd. (Insurance) | 180 |
Shares | Security Description | Value (000) | ||||||
South Korea (continued) | ||||||||
1,485 | Samsung SDI Co. Ltd. (Electronic Equipment, Instruments & Components) | $ | 155 | |||||
705 | Samsung SDS Co. Ltd. (IT Services) (a) | 188 | ||||||
1,570 | Samsung Securities Co. Ltd. (Capital Markets) | 63 | ||||||
11,610 | Shinhan Financial Group Co. Ltd. (Banks) | 466 | ||||||
215 | Shinsegae Co. Ltd. (Multiline Retail) | 35 | ||||||
588 | SK C&C Co. Ltd. (IT Services) | 114 | ||||||
715 | SK Holdings Co. Ltd. (Industrial Conglomerates) | 106 | ||||||
1,674 | SK Innovation Co. Ltd. (Oil, Gas & Consumable Fuels) | 129 | ||||||
2,630 | SK Networks Co. Ltd. (Trading Companies & Distributors) (a) | 21 | ||||||
10,819 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 2,646 | ||||||
1,131 | S-Oil Corp. (Oil, Gas & Consumable Fuels) | 50 | ||||||
8,243 | Woori Bank (Banks) (a) | 75 | ||||||
3,690 | Woori Investment & Securities Co. Ltd. (Capital Markets) | 34 | ||||||
229 | Yuhan Corp. (Pharmaceuticals) (a) | 35 | ||||||
22,612 | ||||||||
Spain — 2.57% | ||||||||
84,576 | Abertis Infraestructuras SA (Transportation Infrastructure) | 1,677 | ||||||
36,967 | ACS Actividades de Construccion y Servicios SA (Construction & Engineering) | 1,288 | ||||||
310,512 | Banco Bilbao Vizcaya SA (Banks) | 2,932 | ||||||
932,377 | Banco Santander SA (Banks) | 7,825 | ||||||
98,974 | CaixaBank SA (Banks) | 519 | ||||||
4,918 | Cemex Latam Holdings SA (Construction Materials) (a) | 33 | ||||||
49,977 | Corporacion Mapfre (Insurance) | 169 | ||||||
10,616 | Enagas (Gas Utilities) | 335 | ||||||
135,976 | Ferrovial SA (Construction & Engineering) | 2,688 | ||||||
18,325 | Gas Natural SDG SA (Gas Utilities) | 460 | ||||||
13,757 | Grifols SA, ADR (Biotechnology) | 468 | ||||||
15,717 | Grifols SA (Biotechnology) | 626 | ||||||
7,600 | Grifols SA, Class – B (Biotechnology) | 257 | ||||||
266,567 | Iberdrola SA (Electric Utilities) | 1,797 | ||||||
213,180 | Repsol YPF SA (Oil, Gas & Consumable Fuels) | 3,990 | ||||||
18,599 | Tecnicas Reunidas SA (Energy Equipment & Services) | 813 | ||||||
541,996 | Telefonica SA (Diversified Telecommunication Services) | 7,781 | ||||||
33,658 | ||||||||
Sweden — 2.67% | ||||||||
40,474 | Assa Abloy AB, Class – B (Building Products) | 2,139 | ||||||
485 | Autoliv, Inc. (Auto Components) | 52 | ||||||
42,164 | Electrolux AB, Series B (Household Durables) | 1,233 | ||||||
14,871 | Industrivarden AB, C Shares (Diversified Financial Services) | 258 |
See accompanying notes to financial statements.
88
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Sweden (continued) | ||||||||
3,269 | Modern Times Group, B Shares (Media) | $ | 104 | |||||
307,459 | Nordea Bank AB (Banks) | 3,561 | ||||||
431,698 | Sandvik AB (Machinery) | 4,200 | ||||||
153,762 | Skandinaviska Enskilda Banken AB, Class – A (Banks) | 1,954 | ||||||
121,169 | Skanska AB, B Shares (Construction & Engineering) | 2,603 | ||||||
160,313 | SKF AB, B Shares (Machinery) | 3,379 | ||||||
36,145 | Svenska Handelsbanken AB, A Shares (Banks) | 1,692 | ||||||
131,571 | Swedbank AB, A Shares (Banks) | 3,267 | ||||||
64,612 | Tele2 AB, B Shares (Wireless Telecommunication Services) | 783 | ||||||
482,133 | TeliaSonera AB (Diversified Telecommunication Services) | 3,102 | ||||||
620,949 | Volvo AB, B Shares (Machinery) | 6,701 | ||||||
35,028 | ||||||||
Switzerland — 9.06% | ||||||||
808,812 | ABB Ltd. – Registered (Electrical Equipment) | 17,118 | ||||||
13,179 | Actelion Ltd. – Registered (Biotechnology) | 1,518 | ||||||
80,604 | Adecco SA, Registered Shares (Human Resource & Employment Services) | 5,542 | ||||||
5,623 | Baloise Holding AG, Registered Shares (Insurance) | 719 | ||||||
59,721 | Clariant AG (Chemicals) | 1,001 | ||||||
22,323 | Compagnie Financiere Richemont SA – Registered (Textiles, Apparel & Luxury Goods) | 1,980 | ||||||
39,508 | Credit Suisse Group AG – Registered (Capital Markets) | 993 | ||||||
7,584 | DKSH Holding Ltd. (Professional Services) | 578 | ||||||
3,698 | Givaudan SA – Registered (Chemicals) | 6,636 | ||||||
22,004 | Holcim Ltd. – Registered (Construction Materials) | 1,573 | ||||||
19,010 | Julius Baer Group Ltd. (Capital Markets) | 868 | ||||||
17,395 | Kuehne & Nagel International (Marine) | 2,364 | ||||||
335,598 | Nestle SA (Food Products) | 24,474 | ||||||
51,158 | Novartis AG – Registered (Pharmaceuticals) | 4,746 | ||||||
3,655 | Pargesa Holding SA (Diversified Financial Services) | 282 | ||||||
3,123 | Partners Group Holding AG (Capital Markets) | 909 | ||||||
38,470 | Roche Holding AG – Genusscheine (Pharmaceuticals) | 10,426 | ||||||
1,941 | SGS SA – Registered (Professional Services) | 3,964 | ||||||
13,240 | Swiss Prime Site AG – Registered (Real Estate Management & Development) | 972 | ||||||
41,660 | Swiss Re AG (Insurance) | 3,491 | ||||||
6,993 | Swisscom AG – Registered (Diversified Telecommunication Services) | 3,671 | ||||||
37,809 | Syngenta AG, Registered Shares (Chemicals) | 12,165 | ||||||
2,079 | The Swatch Group AG (Textiles, Apparel & Luxury Goods) | 924 |
Shares | Security Description | Value (000) | ||||||
Switzerland (continued) | ||||||||
199,273 | UBS Group AG (Capital Markets) (a) | $ | 3,426 | |||||
27,091 | Zurich Financial Services AG (Insurance) | 8,468 | ||||||
118,808 | ||||||||
Taiwan — 1.04% | ||||||||
75,000 | Acer, Inc. (Technology Hardware, Storage & Peripherals) (a) | 50 | ||||||
172,000 | Advanced Semiconductor Engineering, Inc. (Semiconductors & Semiconductor Equipment) | 204 | ||||||
8,795 | Advantech Co. Ltd. (Technology Hardware, Storage & Peripherals) | 65 | ||||||
57,120 | Asia Cement Corp. (Construction Materials) | 70 | ||||||
52,000 | Asia Pacific Telecom Co. Ltd. (Diversified Telecommunication Services) | 29 | ||||||
19,000 | Asustek Computer, Inc. (Technology Hardware, Storage & Peripherals) | 207 | ||||||
234,000 | AU Optronics Corp. (Electronic Equipment, Instruments & Components) | 119 | ||||||
18,000 | Catcher Technology Co. Ltd. (Technology Hardware, Storage & Peripherals) | 139 | ||||||
226,800 | Cathay Financial Holding Co. Ltd. (Insurance) | 336 | ||||||
120,720 | Chang Hwa Commercial Bank Ltd. (Banks) | 69 | ||||||
46,000 | Cheng Shin Rubber Industry Co. Ltd. (Auto Components) | 108 | ||||||
15,075 | Chicony Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | 42 | ||||||
52,000 | China Airlines Ltd. (Airlines) (a) | 24 | ||||||
370,000 | China Development Financial Holding Corp. (Banks) | 118 | ||||||
77,900 | China Life Insurance Co. Ltd. (Insurance) | 64 | ||||||
21,000 | China Motor Corp. (Automobiles) | 19 | ||||||
328,440 | China Steel Corp. (Metals & Mining) | 272 | ||||||
373,318 | Chinatrust Financial Holding Co. Ltd. (Banks) | 241 | ||||||
106,000 | Chunghwa Telecom Co. Ltd. (Diversified Telecommunication Services) | 314 | ||||||
11,000 | Clevo Co. (Technology Hardware, Storage & Peripherals) | 17 | ||||||
123,000 | Compal Electronics, Inc. (Technology Hardware, Storage & Peripherals) | 86 | ||||||
18,000 | CTCI Corp. (Construction & Engineering) | 29 | ||||||
51,000 | Delta Electronics, Inc. (Electronic Equipment, Instruments & Components) | 301 | ||||||
179,445 | E.Sun Financial Holding Co. Ltd. (Banks) | 111 | ||||||
5,200 | Eclat Textile Co. Ltd. (Textiles, Apparel & Luxury Goods) | 52 | ||||||
25,000 | Epistar Corp. (Semiconductors & Semiconductor Equipment) | 49 | ||||||
37,000 | EVA Airways Corp. (Airlines) (a) | 26 | ||||||
42,000 | Evergreen Marine Corp. Ltd. (Marine) (a) | 30 | ||||||
27,540 | Far Eastern Department Stores Ltd. (Multiline Retail) | 24 | ||||||
76,720 | Far Eastern New Century Corp. (Industrial Conglomerates) | 76 |
See accompanying notes to financial statements.
89
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Taiwan (continued) | ||||||||
40,000 | Far EasTone Telecommunications Co. Ltd. (Wireless Telecommunication Services) | $ | 92 | |||||
9,000 | Farglory Land Development Co. Ltd. (Real Estate Management & Development) | 11 | ||||||
197,070 | First Financial Holdings Co. Ltd. (Banks) | 116 | ||||||
87,000 | Formosa Chemicals & Fibre Corp. (Chemicals) | 183 | ||||||
1,100 | Formosa International Hotels Corp. (Hotels, Restaurants & Leisure) | 12 | ||||||
31,000 | Formosa Petrochemical Corp. (Oil, Gas & Consumable Fuels) | 67 | ||||||
115,000 | Formosa Plastics Corp. (Chemicals) | 262 | ||||||
23,000 | Formosa Taffeta Co. Ltd. (Textiles, Apparel & Luxury Goods) | 23 | ||||||
25,200 | Foxconn Technology Co. Ltd. (Technology Hardware, Storage & Peripherals) | 68 | ||||||
180,000 | Fubon Financial Holding Co. Ltd. (Diversified Financial Services) | 287 | ||||||
8,000 | Giant Manufacturing Co. Ltd. (Leisure Products) | 70 | ||||||
1,000 | Hermes Microvision, Inc. (Semiconductors & Semiconductor Equipment) | 50 | ||||||
13,500 | Highwealth Construction Corp. (Real Estate Management & Development) | 27 | ||||||
5,150 | Hiwin Technologies Corp. (Machinery) | 43 | ||||||
337,200 | Hon Hai Precision Industry Co. Ltd. (Electronic Equipment, Instruments & Components) | 930 | ||||||
7,000 | Hotai Motor Co. Ltd. (Specialty Retail) | 105 | ||||||
19,000 | HTC Corp. (Technology Hardware, Storage & Peripherals) (a) | 85 | ||||||
158,620 | Hua Nan Financial Holdings Co. Ltd., Class – C (Banks) | 89 | ||||||
222,553 | Innolux Corp. (Electronic Equipment, Instruments & Components) | 108 | ||||||
59,000 | Inotera Memories, Inc. (Semiconductors & Semiconductor Equipment) (a) | 93 | ||||||
68,000 | Inventec Corp. (Technology Hardware, Storage & Peripherals) | 45 | ||||||
9,000 | Kinsus Interconnect Technology Corp. (Semiconductors & Semiconductor Equipment) | 30 | ||||||
3,000 | Largan Precision Co. Ltd. (Electronic Equipment, Instruments & Components) | 225 | ||||||
55,275 | Lite-On Technology Corp. (Technology Hardware, Storage & Peripherals) | 63 | ||||||
39,000 | MediaTek, Inc. (Semiconductors & Semiconductor Equipment) | 567 | ||||||
276,000 | Mega Financial Holding Co. Ltd. (Banks) | 212 | ||||||
6,300 | Merida Industry Co. Ltd. (Leisure Products) | 43 | ||||||
133,000 | Nan Ya Plastics Corp. (Chemicals) | 274 | ||||||
16,000 | Novatek Microelectronics Corp. (Semiconductors & Semiconductor Equipment) | 89 | ||||||
43,000 | Pegatron Corp. (Technology Hardware, Storage & Peripherals) | 98 |
Shares | Security Description | Value (000) | ||||||
Taiwan (continued) | ||||||||
4,000 | Phison Electronics Corp. (Semiconductors & Semiconductor Equipment) | $ | 27 | |||||
60,000 | Pou Chen Corp. (Textiles, Apparel & Luxury Goods) | 73 | ||||||
22,000 | Powertech Technology, Inc. (Semiconductors & Semiconductor Equipment) | 37 | ||||||
16,000 | President Chain Store Corp. (Food & Staples Retailing) | 124 | ||||||
122,320 | President Enterprises Corp. (Food Products) | 193 | ||||||
35,500 | Quanta Computer, Inc., GDR (Technology Hardware, Storage & Peripherals)(b) | 445 | ||||||
72,000 | Quanta Computer, Inc. (Technology Hardware, Storage & Peripherals) | 179 | ||||||
13,000 | Radiant Opto-Electronics Corp. (Semiconductors & Semiconductor Equipment) | 41 | ||||||
14,000 | Realtek Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | 46 | ||||||
19,000 | Ruentex Development Co. Ltd. (Real Estate Management & Development) | 30 | ||||||
15,000 | Ruentex Industries Ltd. (Textiles, Apparel & Luxury Goods) | 31 | ||||||
6,240 | ScinoPharm Taiwan Ltd. (Pharmaceuticals) | 11 | ||||||
212,955 | Shin Kong Financial Holding Co. Ltd. (Insurance) | 60 | ||||||
87,000 | Siliconware Precision Industries Co. (Semiconductors & Semiconductor Equipment) | 131 | ||||||
8,000 | Simplo Technology Co. Ltd. (Electronic Equipment, Instruments & Components) | 39 | ||||||
190,311 | SinoPac Financial Holdings Co. Ltd. (Banks) | 78 | ||||||
9,810 | Standard Foods Corp. (Food Products) | 22 | ||||||
38,000 | Synnex Technology International Corp. (Electronic Equipment, Instruments & Components) | 55 | ||||||
226,462 | Taishin Financial Holding Co. Ltd. (Banks) | 93 | ||||||
118,560 | Taiwan Business Bank (Banks) (a) | 34 | ||||||
91,000 | Taiwan Cement Corp. (Construction Materials) | 125 | ||||||
161,700 | Taiwan Cooperative Financial Holding Co. Ltd. (Banks) | 83 | ||||||
18,000 | Taiwan Fertilizer Co. Ltd. (Chemicals) | 32 | ||||||
51,000 | Taiwan Glass Industry Corp. (Building Products) | 40 | ||||||
45,000 | Taiwan Mobile Co. Ltd. (Wireless Telecommunication Services) | 149 | ||||||
10,400 | Taiwan Semiconductor Manufacturing Co. Ltd., ADR (Semiconductors & Semiconductor Equipment) | 233 | ||||||
673,000 | Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment) | 2,966 | ||||||
42,000 | Teco Electric & Machinery Co. Ltd. (Electrical Equipment) | 40 | ||||||
7,000 | Tpk Holding Co. Ltd. (Electronic Equipment, Instruments & Components) | 42 |
See accompanying notes to financial statements.
90
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Taiwan (continued) | ||||||||
7,000 | Transcend Information, Inc. (Semiconductors & Semiconductor Equipment) | $ | 22 | |||||
13,650 | TSRC Corp. (Chemicals) | 15 | ||||||
8,000 | U-Ming Marine Transport Corp. (Marine) | 13 | ||||||
31,000 | Unimicron Technology Corp. (Electronic Equipment, Instruments & Components) | 23 | ||||||
327,000 | United Microelectronics Corp. (Semiconductors & Semiconductor Equipment) | 152 | ||||||
22,000 | Vanguard International Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | 36 | ||||||
76,000 | Walsin Lihwa Corp. (Electrical Equipment) (a) | 24 | ||||||
57,121 | Wistron Corp. (Technology Hardware, Storage & Peripherals) | 51 | ||||||
43,000 | WPG Holdings Ltd. (Electronic Equipment, Instruments & Components) | 50 | ||||||
33,000 | Yang Ming Marine Transport (Marine) (a) | 17 | ||||||
219,900 | Yuanta Financial Holding Co. Ltd. (Capital Markets) | 107 | ||||||
24,000 | Yulon Motor Co. Ltd. (Automobiles) | 35 | ||||||
13,662 | ||||||||
Thailand — 0.20% | ||||||||
29,200 | Advanced INFO Service Public Co. Ltd. (Wireless Telecommunication Services) | 221 | ||||||
12,600 | Airports of Thailand Public Co. Ltd., Foreign Registered Shares (Transportation Infrastructure) | 107 | ||||||
15,400 | Bangkok Bank Public Co. Ltd. – NVDR (Banks) | 90 | ||||||
92,000 | Bangkok Dusit Medical Service Public Co. Ltd., Class – F (Health Care Providers & Services) | 48 | ||||||
25,500 | Banpu Public Co. Ltd., Foreign Registered Shares (Oil, Gas & Consumable Fuels) | 19 | ||||||
30,400 | BEC World Public Co. Ltd., Foreign Registered Shares (Media) | 47 | ||||||
175,800 | BTS Group Holdings Public Co. Ltd. (Road & Rail) | 51 | ||||||
5,900 | Bumrungrad Hospital Public Co. Ltd. (Health Care Providers & Services) | 25 | ||||||
40,000 | Central Pattana Public Co. Ltd., Foreign Registered Shares (Real Estate Management & Development) | 55 | ||||||
81,600 | Charoen Pokphand Foods Public Co. Ltd. (Food Products) | 67 | ||||||
123,100 | CP ALL Public Co. Ltd. (Food & Staples Retailing) | 158 | ||||||
9,200 | Delta Electronics (Thailand) Public Co. Ltd. (Electronic Equipment, Instruments & Components) | 20 | ||||||
26,800 | Energy Absolute Public Co. Ltd. – NVDR (Oil, Gas & Consumable Fuels) | 20 | ||||||
17,300 | Glow Energy Public Co. Ltd. (Independent Power and Renewable Electricity Producers) | 47 |
Shares | Security Description | Value (000) | ||||||
Thailand (continued) | ||||||||
120,728 | Home Product Center Public Co. Ltd., Foreign Registered Shares (Specialty Retail) | $ | 30 | |||||
33,200 | Indorama Ventures Public Co. Ltd. (Chemicals) | 20 | ||||||
248,200 | IRPC Public Co. Ltd. – NVDR (Oil, Gas & Consumable Fuels) | 23 | ||||||
51,300 | Kasikornbank Public Co. Ltd. (Banks) | 356 | ||||||
107,800 | Krung Thai Bank Public Co. Ltd., Foreign Registered Shares (Banks) | 74 | ||||||
46,400 | Minor International Public Co. Ltd., Foreign Registered Shares (Hotels, Restaurants & Leisure) | 46 | ||||||
38,500 | PTT Exploration & Production Public Co. Ltd. – NVDR (Oil, Gas & Consumable Fuels) | 130 | ||||||
44,800 | PTT Global Chemical Public Co. Ltd. (Chemicals) | 70 | ||||||
38,800 | PTT Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 381 | ||||||
43,800 | Siam Commercial Bank Public Co. Ltd. (Banks) | 241 | ||||||
26,700 | Thai Oil Public Co. Ltd. – NVDR (Oil, Gas & Consumable Fuels) | 34 | ||||||
9,600 | Thai Union Frozen Products Public Co. Ltd. – NVDR (Food Products) | 26 | ||||||
8,800 | The Siam Cement Public Co. Ltd. – NVDR (Construction Materials) | 119 | ||||||
436,800 | TMB Bank Public Co. Ltd. – Foreign Registered Shares (Banks) | 39 | ||||||
238,619 | True Corp. Public Co. Ltd. – Foreign Registered Shares (Diversified Telecommunication Services) (a) | 80 | ||||||
2,644 | ||||||||
Turkey — 0.14% | ||||||||
50,180 | Akbank TAS (Banks) | 186 | ||||||
6,037 | Anadolu EFES Biracilik VE Malt Sanayii A/S (Beverages) (a) | 59 | ||||||
6,942 | Arcelik A/S (Household Durables) | 45 | ||||||
5,766 | Bim Birlesik Magazalar A/S (Food & Staples Retailing) | 123 | ||||||
1,899 | Coca-Cola Icecek A/S (Beverages) | 41 | ||||||
50,826 | Emlak Konut Gayrimenkul Yatirim (Real Estate Investment Trusts) | 60 | ||||||
11,745 | Enka Insaat ve Sanayi A/S (Industrial Conglomerates) | 27 | ||||||
42,091 | Eregli Demir ve Celik Fabrikalari TAS (Metals & Mining) | 80 | ||||||
2,121 | Ford Otomotiv Sanayi A/S (Automobiles) | 30 | ||||||
23,989 | Haci OMER Sabanci Holding (Diversified Financial Services) | 104 | ||||||
18,402 | KOC Holdings A/S (Industrial Conglomerates) | 98 | ||||||
6,398 | Petkim Petrokimya Holding AS (Chemicals) | 11 | ||||||
5,049 | TAV Havalimanlari Holding A/S (Transportation Infrastructure) | 41 |
See accompanying notes to financial statements.
91
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Turkey (continued) | ||||||||
3,854 | Tofas Turk Otomobil Fabrikasi A/S (Automobiles) | $ | 26 | |||||
3,307 | Tupras-Turkiye Petrol Rafinerileri A/S (Oil, Gas & Consumable Fuels) | 78 | ||||||
16,289 | Turk Hava Yollari Anonim Ortakligi (Airlines) (a) | 67 | ||||||
12,992 | Turk Telekomunikasyon A/S (Diversified Telecommunication Services) | 40 | ||||||
22,309 | Turkcell Iletisim Hizmetleri A/S (Wireless Telecommunication Services) (a) | 136 | ||||||
62,684 | Turkiye Garanti Bankasi A/S (Banks) | 253 | ||||||
17,024 | Turkiye Halk Bankasi A/S (Banks) | 101 | ||||||
42,821 | Turkiye Is Bankasi A/S, C Shares (Banks) | 123 | ||||||
17,675 | Turkiye Sise ve Cam Fabrikalari A/S (Industrial Conglomerates) | 27 | ||||||
23,039 | Turkiye Vakiflar Bankasi TAO, Class – D (Banks) | 48 | ||||||
4,274 | Ulker Biskuvi Sanayi A/S (Food Products) | 34 | ||||||
22,134 | Yapi ve Kredi Bankasi AS (Banks) | 46 | ||||||
1,884 | ||||||||
United Arab Emirates — 0.05% | ||||||||
61,648 | Arabtec Holding Co. (Construction & Engineering) | 48 | ||||||
8,412 | Dp World Ltd. (Transportation Infrastructure) | 176 | ||||||
107,198 | Dubai Financial Market (Diversified Financial Services) | 57 | ||||||
63,735 | Dubai Islamic Bank (Banks) | 117 | ||||||
124,902 | Emaar Properties PJSC (Real Estate Management & Development) | 240 | ||||||
638 | ||||||||
United Kingdom — 18.29% | ||||||||
281,100 | AA PLC (Commercial Services & Supplies) (a) | 1,533 | ||||||
10,356 | Admiral Group PLC (Insurance) | 212 | ||||||
79,301 | AMEC PLC (Energy Equipment & Services) | 1,047 | ||||||
285,737 | Anglo American PLC (Metals & Mining) | 5,287 | ||||||
85,642 | Antofagasta PLC (Metals & Mining) | 998 | ||||||
34,000 | ARM Holdings PLC (Semiconductors & Semiconductor Equipment) | 522 | ||||||
4,100 | Associated British Foods PLC (Food Products) | 200 | ||||||
259,624 | AstraZeneca PLC (Pharmaceuticals) | 18,335 | ||||||
265,480 | Aviva PLC (Insurance) | 1,995 | ||||||
35,949 | Babcock Int'l Group PLC (Commercial Services & Supplies) | 589 | ||||||
700,669 | BAE Systems PLC (Aerospace & Defense) | 5,123 | ||||||
212,942 | Balfour Beatty PLC (Construction & Engineering) | 704 | ||||||
534,039 | Barclays PLC (Banks) | 2,007 | ||||||
116,445 | BG Group PLC (Oil, Gas & Consumable Fuels) | 1,558 | ||||||
439,505 | BHP Billiton PLC (Metals & Mining) | 9,418 | ||||||
1,816,523 | BP PLC (Oil, Gas & Consumable Fuels) | 11,529 |
Shares | Security Description | Value (000) | ||||||
United Kingdom (continued) | ||||||||
290,234 | British American Tobacco PLC (Tobacco) | $ | 15,726 | |||||
98,346 | British Land Co. PLC (Real Estate Investment Trusts) | 1,186 | ||||||
240,185 | BT Group PLC (Diversified Telecommunication Services) | 1,494 | ||||||
90,846 | Capital Shopping Centres Group PLC (Real Estate Investment Trusts) | 470 | ||||||
36,242 | Carnival PLC (Hotels, Restaurants & Leisure) | 1,638 | ||||||
281,282 | Centrica PLC (Multi-Utilities) | 1,218 | ||||||
39,788 | Croda International PLC (Chemicals) | 1,642 | ||||||
21,500 | CSR PLC (Semiconductors & Semiconductor Equipment) | 285 | ||||||
3,750 | Diageo PLC (Beverages) | 107 | ||||||
76,723 | Direct Line Insurance Group (Insurance) | 347 | ||||||
12,800 | Ensco PLC, ADR (Energy Equipment & Services) | 383 | ||||||
19,700 | Fidessa Group PLC (Software) | 734 | ||||||
633,892 | GlaxoSmithKline PLC (Pharmaceuticals) | 13,598 | ||||||
121,454 | Grainger PLC (Real Estate Management & Development) | 354 | ||||||
20,255 | Greene King PLC (Hotels, Restaurants & Leisure) | 234 | ||||||
150,387 | Home Retail Group PLC (Internet & Catalog Retail) | 485 | ||||||
996,442 | HSBC Holdings PLC (Banks) | 9,416 | ||||||
234,120 | HSBC Holdings PLC (HK) (Banks) | 2,226 | ||||||
43,271 | ICAP PLC (Capital Markets) | 303 | ||||||
241,674 | Imperial Tobacco Group PLC (Tobacco) | 10,637 | ||||||
48,184 | Inmarsat PLC (Diversified Telecommunication Services) | 597 | ||||||
27,730 | InterContinental Hotels Group PLC (Hotels, Restaurants & Leisure) | 1,116 | ||||||
267,629 | International Consolidated Airlines Group SA (Airlines) (a) | 2,014 | ||||||
269,892 | J Sainsbury PLC (Food & Staples Retailing) | 1,031 | ||||||
42,758 | John Wood Group PLC (Energy Equipment & Services) | 396 | ||||||
47,167 | Johnson Matthey PLC (Chemicals) | 2,481 | ||||||
262,475 | Kingfisher PLC (Specialty Retail) | 1,387 | ||||||
316,809 | Legal & General Group PLC (Insurance) | 1,223 | ||||||
59,392 | Liberty Global PLC, Class – A (Media) (a) | 2,982 | ||||||
75,146 | Liberty Global PLC, Series C (Media) (a) | 3,630 | ||||||
3,490,605 | Lloyds Banking Group PLC (Banks) (a) | 4,105 | ||||||
373,619 | Marks & Spencer Group PLC (Multiline Retail) | 2,766 | ||||||
81,873 | Meggitt PLC (Aerospace & Defense) | 659 | ||||||
97,641 | Merlin Entertainments PLC (Hotels, Restaurants & Leisure) | 604 | ||||||
195,394 | Michael Page International PLC (Professional Services) | 1,246 | ||||||
216,638 | National Grid PLC (Multi-Utilities) | 3,074 | ||||||
294,616 | Ocado Group PLC (Internet & Catalog Retail) (a) | 1,823 | ||||||
250,552 | Old Mutual PLC (Insurance) | 738 |
See accompanying notes to financial statements.
92
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United Kingdom (continued) | ||||||||
107,087 | Ophir Energy PLC (Oil, Gas & Consumable Fuels) (a) | $ | 235 | |||||
167,575 | Pearson PLC (Media) | 3,094 | ||||||
64,941 | Persimmon PLC (Household Durables) | 1,586 | ||||||
217,293 | Prudential PLC (Insurance) | 5,024 | ||||||
75,302 | Resolution Ltd. (Insurance) | 428 | ||||||
258,436 | Rexam PLC (Containers & Packaging) | 1,819 | ||||||
339,485 | Rio Tinto PLC (Metals & Mining) | 15,647 | ||||||
114,882 | Rolls-Royce Holdings PLC (Aerospace & Defense) | 1,543 | ||||||
321,328 | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | 10,722 | ||||||
289,924 | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | 10,016 | ||||||
135,154 | RSA Insurance Group PLC (Insurance) (a) | 912 | ||||||
44,710 | SABMiller PLC (Beverages) | 2,331 | ||||||
30,435 | Saga PLC (Insurance) (a) | 73 | ||||||
76,350 | SEGRO PLC (Real Estate Investment Trusts) | 437 | ||||||
12,252 | Severn Trent PLC (Water Utilities) | 382 | ||||||
52,366 | SSE PLC (Electric Utilities) | 1,323 | ||||||
126,227 | Standard Chartered PLC (Banks) | 1,888 | ||||||
126,336 | Standard Life PLC (Insurance) | 782 | ||||||
95,293 | Tate & Lyle PLC (Food Products) | 894 | ||||||
1,767,292 | Tesco PLC (Food & Staples Retailing) | 5,152 | ||||||
224,069 | The Sage Group PLC (Software) | 1,618 | ||||||
601,955 | Thomas Cook Group PLC (Hotels, Restaurants & Leisure) (a) | 1,191 | ||||||
50,198 | Tullow Oil PLC (Oil, Gas & Consumable Fuels) | 323 | ||||||
6,853 | Unilever PLC (Food Products) | 278 | ||||||
37,414 | United Utilities Group PLC (Water Utilities) | 531 | ||||||
4,400,545 | Vodafone Group PLC (Wireless Telecommunication Services) | 15,086 | ||||||
483,335 | William Morrison Supermarkets PLC (Food & Staples Retailing) | 1,379 | ||||||
240,106 | ||||||||
United States — 0.12% | ||||||||
27,927 | Cognizant Technology Solutions Corp. (IT Services) (a) | 1,471 | ||||||
4,400 | Southern Copper Corp. (Metals & Mining) | 124 | ||||||
1,595 | ||||||||
Total Common Stocks | 1,263,644 | |||||||
Preferred Stocks — 0.63% | ||||||||
Brazil — 0.20% | ||||||||
3,000 | AES Tiete SA – Preferred (Independent Power and Renewable Electricity Producers) | 20 | ||||||
57,200 | Banco Bradesco SA – Preferred (Banks) | 755 | ||||||
4,500 | Banco do Estado do Rio Grande do Sul SA – Preferred, B Shares (Banks) | 25 | ||||||
6,600 | Bradespar SA – Preferred (Metals & Mining) | 36 | ||||||
5,000 | Braskem SA – Preferred, Class – A (Chemicals) | 33 |
Shares | Security Description | Value (000) | ||||||
Brazil (continued) | ||||||||
6,800 | Centrais Eletricas Brasileiras SA – Preferred, B Shares (Electric Utilities) | $ | 21 | |||||
20,900 | Companhia Energetica de Minas Gerais SA – Preferred, ADR (Electric Utilities) | 103 | ||||||
4,900 | Companhia Energetica de Sao Paulo – Preferred, B Shares (Independent Power and Renewable Electricity Producers) | 50 | ||||||
2,900 | Companhia Paranaense de Energia-COPEL – Preferred, B Shares (Electric Utilities) | 39 | ||||||
23,600 | Gerdau SA – Preferred (Metals & Mining) | 85 | ||||||
86,040 | Itausa – Investimentos Itau SA – Preferred (Banks) | 304 | ||||||
15,000 | Lojas Americanas SA – Preferred (Multiline Retail) | 97 | ||||||
7,000 | Metalurgica Gerdau SA – Preferred (Metals & Mining) | 30 | ||||||
8,170 | Oi SA – Preferred (Diversified Telecommunication Services) (a) | 26 | ||||||
115,600 | Petroleo Brasileiro SA – Preferred (Oil, Gas & Consumable Fuels) | 436 | ||||||
8,900 | Suzano Papel e Celulose SA – Preferred, Class – A (Paper & Forest Products) | 38 | ||||||
8,100 | Telefonica Brasil SA – Preferred (Diversified Telecommunication Services) | 143 | ||||||
11,200 | Usinas Siderurgicas de Minas Gerais SA – Preferred, Class – A (Metals & Mining) (a) | 21 | ||||||
50,200 | Vale SA – Preferred (Metals & Mining) | 363 | ||||||
2,625 | ||||||||
Chile — 0.01% | ||||||||
7,534 | Embotelladora Andina SA – Preferred, B Shares (Beverages) | 21 | ||||||
2,526 | Sociedad Quimica y Minera de Chile SA – Preferred, B Shares (Chemicals) | 62 | ||||||
83 | ||||||||
Colombia — 0.02% | ||||||||
11,954 | Bancolombia SA – Preferred (Banks) | 144 | ||||||
3,430 | Grupo Argos SA – Preferred (Construction Materials) | 29 | ||||||
91,081 | Grupo Aval Acciones y Valores SA – Preferred (Banks) | 49 | ||||||
2,721 | Grupo de Inversiones Suramericana – Preferred (Diversified Financial Services) | 45 | ||||||
267 | ||||||||
Germany — 0.32% | ||||||||
9,277 | Bayerische Motoren Werke AG – Preferred (Automobiles) | 758 | ||||||
13,739 | Henkel AG & Co. KGaA – Preferred (Household Products) | 1,480 | ||||||
26,170 | Porsche Automobil Holding SE – Preferred (Automobile Manufacturers) | 2,116 | ||||||
4,354 |
See accompanying notes to financial statements.
93
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Russia — 0.02% | ||||||||
47 | AK Transneft OAO – Preferred (Oil, Gas & Consumable Fuels) | $ | 96 | |||||
23,000 | Sberbank of Russia – Preferred (Banks) | 14 | ||||||
190,100 | Surgutneftegas – Preferred (Oil, Gas & Consumable Fuels) | 91 | ||||||
201 | ||||||||
South Korea — 0.06% | ||||||||
1,100 | Hyundai Motor Co. Ltd. – Preferred (Automobiles) (a) | 134 | ||||||
693 | Hyundai Motor Co. Ltd. – Preferred (Automobiles) (a) | 79 | ||||||
217 | LG Chem Ltd. – Preferred (Chemicals) | 28 | ||||||
559 | Samsung Electronics Co. Ltd. – Preferred (Semiconductors & Semiconductor Equipment) | 526 | ||||||
767 | ||||||||
Total Preferred Stocks | 8,297 | |||||||
Rights — 0.00% | ||||||||
Russia — 0.00% | ||||||||
31,900 | The Moscow Exchange Micex (Diversified Financial Services) (a) | 31 | ||||||
South Korea — 0.00% | ||||||||
783 | DGB Financial Group, Inc. (Banks) (a) | 1 | ||||||
Taiwan — 0.00% | ||||||||
5,449 | EVA Airways Corp. (Airlines) (a) | 1 | ||||||
Total Rights | 33 | |||||||
U.S. Treasury Obligations — 0.00% | ||||||||
$10 | U.S. Treasury Bill, 0.02%, 3/12/15 (d) | 10 | ||||||
20 | U.S. Treasury Bill, 0.07%, 6/4/15 (d) | 20 | ||||||
Total U.S. Treasury Obligations | 30 | |||||||
Time Deposit — 0.42% | ||||||||
5,544 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/15 | 5,544 | ||||||
Total Time Deposit | 5,544 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Mutual Funds — 1.94% | ||||||||
17,696,000 | Dreyfus Treasury Prime Cash Management Fund, 0.00% (e) | 17,696 | ||||||
247,112 | iShares MSCI India ETF | 7,435 | ||||||
233,000 | SSgA Treasury Money Market Fund | $ | 233 | |||||
Total Mutual Funds | 25,364 | |||||||
Total Investments (cost $1,200,708) — 99.31% | 1,302,912 | |||||||
Other assets in excess of liabilities — 0.69% | 9,110 | |||||||
Net Assets — 100.00% | $ | 1,312,022 |
Amounts designated as “—” are $0 or have been rounded to $0.
ˆ | All or part of this security was on loan as of December 31, 2014. The total value of securities on loan as of December 31, 2014, was $6,985 (amount in thousands). |
(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) | This security has been deemed illiquid by the Specialist Manager and represents 0.00% of the Portfolio's net assets. |
(d) | The rate disclosed represents effective yield at purchase. |
(e) | The rate disclosed is the rate in effect on December 31, 2014. |
ADR — American Depositary Receipt
ETF — Exchange Traded Fund
FDR — Fiduciary Depositary Receipt
GDR — Global Depositary Receipt
NVDR — Non-Voting Depository Receipt
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
94
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
The following table reflects the percentage of 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 | Capital Guardian Trust Co. | Causeway Capital Management LLC | Cadence Capital Management – Quality Yield | Mellon Capital Management Corp. – Emerging | Total | ||||||||||||||||||
Common Stocks | 7.94 | % | 12.09 | % | 7.51 | % | 61.72 | % | 7.06 | % | 96.32 | % | ||||||||||||
Preferred Stocks | 0.11 | % | — | — | 0.22 | % | 0.30 | % | 0.63 | % | ||||||||||||||
Time Deposit | 0.05 | % | 0.37 | % | — | — | — | 0.42 | % | |||||||||||||||
Mutual Funds | — | — | — | 1.35 | % | 0.59 | % | 1.94 | % | |||||||||||||||
Other Assets (Liablities) | 0.07 | % | 0.01 | % | 0.13 | % | 0.45 | % | 0.03 | % | 0.69 | % | ||||||||||||
Total Net Assets | 8.17 | % | 12.47 | % | 7.64 | % | 63.74 | % | 7.98 | % | 100.00 | % |
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2014.
Long Futures
Number of Contracts | Futures Contracts Positionsˆ | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
11 | Mini MSCI Emerging Markets Index Future | $527 | 3/20/15 | $ | 15 | |||||||||||
Net Unrealized Appreciation/(Depreciation) | 15 |
Amounts designated as “—” are $0 or have been rounded to $0.
ˆ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Currency Contracts
Contract Amount (Local Currency) | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/14 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Purchased | ||||||||||||||||||||||||
3,949,659 | Japanese Yen | Bank of America | 1/5/15 | $ | 33 | $ | 33 | $ | — | |||||||||||||||
7,799,135 | Japanese Yen | Credit Suisse | 1/6/15 | 65 | 65 | — | ||||||||||||||||||
5,731,145 | Japanese Yen | JPMorgan Chase | 1/7/15 | 48 | 48 | — | ||||||||||||||||||
1,409,504,000 | Korean Won | Citibank | 1/8/15 | 1,292 | 1,283 | (9 | ) | |||||||||||||||||
Total Currencies Purchased | $ | 1,438 | $ | 1,429 | $ | (9 | ) | |||||||||||||||||
Currencies Sold | ||||||||||||||||||||||||
45,313 | British Pound Sterling | Bank of New York | 1/5/15 | $ | 71 | $ | 71 | $ | — | |||||||||||||||
8,821 | British Pound Sterling | Barclays Bank | 1/5/15 | 14 | 14 | — | ||||||||||||||||||
193,411 | British Pound Sterling | Bank of New York | 1/5/15 | 301 | 301 | — | ||||||||||||||||||
668,000 | Euro | UBS Warburg | 1/13/15 | 829 | 808 | 21 | ||||||||||||||||||
14,443 | Euro | Morgan Stanley | 1/5/15 | 17 | 17 | — | ||||||||||||||||||
320,974 | Euro | Bank of New York | 1/5/15 | 388 | 388 | — | ||||||||||||||||||
1,570,891 | Hong Kong Dollar | Westpac Banking Corp. | 1/5/15 | 203 | 203 | — | ||||||||||||||||||
43,720,979 | Japanese Yen | Mellon Bank | 1/5/15 | 363 | 365 | (2 | ) | |||||||||||||||||
2,155,942 | Japanese Yen | Citigroup | 1/7/15 | 18 | 18 | — | ||||||||||||||||||
6,589,937 | Japanese Yen | Deutsche Bank | 1/6/15 | 55 | 55 | — | ||||||||||||||||||
19,811,828 | Japanese Yen | JPMorgan Chase | 1/5/15 | 164 | 165 | (1 | ) | |||||||||||||||||
1,409,504,000 | Korean Won | Citibank | 1/8/15 | 1,266 | 1,283 | (17 | ) | |||||||||||||||||
155,212 | Singapore Dollar | Bank of New York | 1/6/15 | 117 | 117 | — | ||||||||||||||||||
Total Currencies Sold | $ | 3,806 | $ | 3,805 | $ | 1 | ||||||||||||||||||
Net Unrealized/Appreciation (Depreciation) | $ | (8 | ) |
Amounts designated as “—” are $0 or has been rounded to $0.
See accompanying notes to financial statements.
95
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 97.24% | ||||||||
Australia — 5.52% | ||||||||
314,260 | ALS Ltd. (Professional Services) | $ | 1,361 | |||||
52,521 | Amcor Ltd. (Containers & Packaging) | 578 | ||||||
272,741 | Aristocrat Leisure Ltd. (Hotels, Restaurants & Leisure) | 1,448 | ||||||
38,587 | ASX Ltd. (Diversified Financial Services) | 1,151 | ||||||
393,514 | AusNet Services (Electric Utilities) | 425 | ||||||
590,407 | Australia & New Zealand Banking Group Ltd. (Banks) | 15,359 | ||||||
202,171 | Bank of Queensland Ltd. (Banks) | 1,991 | ||||||
91,370 | Bendigo & Adelaide Bank Ltd. (Banks) | 950 | ||||||
154,721 | BHP Billiton Ltd. (Metals & Mining) | 3,657 | ||||||
100,764 | Bradken Ltd. (Machinery) | 385 | ||||||
476,825 | Coca-Cola Amatil Ltd. (Beverages) | 3,599 | ||||||
323,231 | Commonwealth Bank of Australia (Banks) | 22,452 | ||||||
55,083 | CSL Ltd. (Biotechnology) | 3,868 | ||||||
150,050 | Downer EDI Ltd. (Aerospace & Defense) | 573 | ||||||
568,991 | Federation Centres (Real Estate Investment Trusts) | 1,324 | ||||||
251,069 | Fortescue Metals Group Ltd. (Metals & Mining) | 551 | ||||||
1,524,697 | GPT Group (Real Estate Investment Trusts) | 5,395 | ||||||
113,529 | Iluka Resources Ltd. (Metals & Mining) | 545 | ||||||
466,629 | Insurance Australia Group Ltd. (Insurance) | 2,369 | ||||||
708,095 | Metcash Ltd. (Food & Staples Retailing) | 1,067 | ||||||
1,471,580 | Mirvac Group (Real Estate Investment Trusts) | 2,128 | ||||||
469,328 | National Australia Bank Ltd. (Banks) | 12,796 | ||||||
24,850 | Newcrest Mining Ltd. (Metals & Mining) (a) | 219 | ||||||
841,999 | Novion Property Group Pty Ltd. (Real Estate Investment Trusts) | 1,447 | ||||||
237,777 | Orica Ltd. (Chemicals) | 3,643 | ||||||
2,123,072 | Scentre Group (Real Estate Investment Trusts) | 6,013 | ||||||
927,426 | Stockland Trust Group (Real Estate Investment Trusts) | 3,099 | ||||||
256,390 | Suncorp Group Ltd. (Insurance) | 2,928 | ||||||
865,625 | Sydney Airport (Transportation Infrastructure) | 3,313 | ||||||
2,954,613 | Telstra Corp. Ltd. (Diversified Telecommunication Services) | 14,341 | ||||||
511,513 | Toll Holdings Ltd. (Air Freight & Logistics) | 2,436 | ||||||
787,214 | Westfield Corp. (Real Estate Investment Trusts) | 5,769 | ||||||
619,838 | Westpac Banking Corp. (Banks) | 16,667 | ||||||
426,155 | Woodside Petroleum Ltd. (Oil, Gas & Consumable Fuels) | 13,177 | ||||||
164,965 | WorleyParsons Ltd. (Energy Equipment & Services) | 1,351 | ||||||
158,375 |
Shares | Security Description | Value (000) | ||||||
Austria — 0.15% | ||||||||
180,351 | Immofinanz AG (Real Estate Management & Development) (a) | $ | 454 | |||||
77,303 | OMV AG (Oil, Gas & Consumable Fuels) | 2,053 | ||||||
20,775 | Raiffeisen Bank International AG (Banks) | 317 | ||||||
10,996 | Vienna Insurance Group Wiener Staedtische Versicherung AG (Insurance) | 491 | ||||||
26,601 | Voestalpine AG (Metals & Mining) | 1,051 | ||||||
4,366 | ||||||||
Belgium — 1.09% | ||||||||
40,580 | Ageas (Insurance) | 1,443 | ||||||
43,559 | Anheuser-Busch InBev NV (Beverages) | 4,902 | ||||||
48,033 | Belgacom SA (Diversified Telecommunication Services) | 1,743 | ||||||
26,178 | Colruyt SA (Food & Staples Retailing) | 1,217 | ||||||
67,130 | Delhaize Group (Food & Staples Retailing) | 4,888 | ||||||
13,863 | Groupe Bruxelles Lambert SA (Diversified Financial Services) | 1,183 | ||||||
39,152 | KBC Groep NV (Banks) | 2,185 | ||||||
32,923 | Solvay SA (Chemicals) | 4,453 | ||||||
69,620 | Telenet Group Holding NV (Media) (a) | 3,906 | ||||||
31,162 | UCB SA (Pharmaceuticals) | 2,369 | ||||||
73,167 | Umicore SA (Chemicals) | 2,944 | ||||||
31,233 | ||||||||
Bermuda — 0.20% | ||||||||
130,000 | Alibaba Health Information Technology Ltd. (Diversified Financial Services) (a) | 85 | ||||||
180,000 | Beijing Enterprises Water Group Ltd. (Water Utilities) | 122 | ||||||
80,000 | Cosco Pacific Ltd. (Transportation Infrastructure) | 113 | ||||||
40,900 | Golar LNG Ltd. (Oil, Gas & Consumable Fuels) | 1,492 | ||||||
530,000 | GOME Electrical Appliances Holding Ltd. (Specialty Retail) | 77 | ||||||
158,000 | Kunlun Energy Co. Ltd. (Oil, Gas & Consumable Fuels) | 149 | ||||||
91,000 | Nine Dragons Paper Holdings Ltd. (Paper & Forest Products) | 79 | ||||||
213,717 | Seadrill Ltd. (Energy Equipment & Services) ˆ | 2,474 | ||||||
216,000 | Sihuan Pharmaceutical Holdings Group Ltd. (Pharmaceuticals) | 144 | ||||||
279,500 | Yue Yuen Industrial Holdings Ltd. (Textiles, Apparel & Luxury Goods) | 1,005 | ||||||
5,740 | ||||||||
Brazil — 0.48% | ||||||||
34,406 | Ambev SA, ADR (Beverages) | 214 | ||||||
228,300 | Ambev SA (Beverages) | 1,405 | ||||||
5,600 | B2W CIA Digital (Internet & Catalog Retail) (a) | 47 | ||||||
30,100 | Banco Bradesco SA (Banks) | 389 | ||||||
42,100 | Banco do Brasil SA (Banks) | 377 | ||||||
21,500 | Banco Santander Brasil SA (Banks) | 109 | ||||||
33,700 | BB Seguridade Participacoes SA (Insurance) | 409 |
See accompanying notes to financial statements.
96
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Brazil (continued) | ||||||||
88,600 | BM&FBOVESPA SA (Diversified Financial Services) | $ | 328 | |||||
21,500 | BR Malls Participacoes SA (Real Estate Management & Development) | 133 | ||||||
31,500 | BRF SA (Food Products) | 752 | ||||||
38,700 | CCR SA (Transportation Infrastructure) | 224 | ||||||
14,700 | Centrais Electricas Brasileiras SA (Electric Utilities) | 32 | ||||||
10,309 | CETIP SA (Capital Markets) | 125 | ||||||
15,900 | Cia de Saneamento Basico do Estado de Sao Paulo SABESP (Water Utilities) | 102 | ||||||
35,300 | Cielo SA (IT Services) | 554 | ||||||
7,000 | Companhia Brasileira de Destribuicao Grupo PAO de (Food & Staples Retailing) | 259 | ||||||
34,200 | Companhia Siderurgica Nacional SA (CSN) (Metals & Mining) | 72 | ||||||
5,600 | Cosan SA Industria e Comercio (Oil, Gas & Consumable Fuels) | 61 | ||||||
10,600 | CPFL Energia SA (Electric Utilities) | 74 | ||||||
12,300 | Cyrela Brazil Realty SA Empreendimentos (Household Durables) | 51 | ||||||
16,170 | Duratex SA (Paper Products) | 49 | ||||||
9,100 | Ecorodovias Infraestrutura E Logistica SA (Transportation Infrastructure) | 37 | ||||||
12,900 | EDP – Energias do Brasil SA (Electric Utilities) | 44 | ||||||
30,800 | Embraer SA (Aerospace & Defense) | 283 | ||||||
14,100 | Estacio Participacoes SA (Diversified Consumer Services) | 126 | ||||||
11,500 | Fibria Celulose SA (Paper & Forest Products) (a) | 141 | ||||||
121,700 | Hypermarcas SA (Personal Products) (a) | 763 | ||||||
133,890 | Itau Unibanco Holding SA (Banks) | 1,743 | ||||||
34,900 | JBS SA (Food Products) | 147 | ||||||
21,900 | Klabin SA (Containers & Packaging) | 120 | ||||||
65,088 | Kroton Educacional SA (Diversified Consumer Services) | 380 | ||||||
7,400 | Localiza Rent A Car SA (Road & Rail) | 99 | ||||||
9,125 | Lojas Americanas SA (Multiline Retail) | 45 | ||||||
6,000 | Lojas Renner SA (Multiline Retail) | 173 | ||||||
1,800 | M Dias Branco SA (Food Products) | 62 | ||||||
4,100 | Multiplan Empreendimentos Imobiliarios SA (Real Estate Management & Development) | 73 | ||||||
8,100 | Natura Cosmeticos SA (Personal Products) | 97 | ||||||
9,000 | OdontoPrev SA (Health Care Providers & Services) | 33 | ||||||
146,100 | Petroleo Brasileiro SA (Oil, Gas & Consumable Fuels) | 527 | ||||||
5,900 | Porto Seguro SA (Insurance) | 67 | ||||||
10,500 | Qualicorp SA (Health Care Providers & Services) (a) | 110 | ||||||
9,500 | Raia Drogasil SA (Food & Staples Retailing) | 91 | ||||||
17,200 | Souza Cruz SA (Tobacco) | 125 |
Shares | Security Description | Value (000) | ||||||
Brazil (continued) | ||||||||
7,500 | Sul America SA (Insurance) | $ | 36 | |||||
40,600 | Tim Participacoes SA (Wireless Telecommunication Services) | 180 | ||||||
6,700 | Totvs SA (Software) | 88 | ||||||
8,400 | Tractebel Energia SA (Independent Power and Renewable Electricity Producers) | 107 | ||||||
5,400 | Transmissora Alianca de Energia Eletrica SA (Electric Utilities) | 38 | ||||||
17,200 | Ultrapar Participacoes SA (Oil, Gas & Consumable Fuels) | 333 | ||||||
158,100 | Vale SA, ADR (Metals & Mining) | 1,293 | ||||||
69,700 | Vale SA (Metals & Mining) | 575 | ||||||
1,800 | Via Varejo SA (Specialty Retail) (a) | 14 | ||||||
14,560 | WEG SA (Machinery) | 168 | ||||||
13,884 | ||||||||
Canada — 0.40% | ||||||||
15,900 | Bank of Nova Scotia (Banks) | 908 | ||||||
13,400 | Cameco Corp. (Oil, Gas & Consumable Fuels) ˆ | 220 | ||||||
52,000 | Cenovus Energy, Inc. (Oil, Gas & Consumable Fuels) | 1,073 | ||||||
69,500 | Centerra Gold, Inc. (Metals & Mining) | 361 | ||||||
101,500 | Centerra Gold, Inc. (Metals & Mining) | 528 | ||||||
51,000 | Enbridge, Inc. (Oil, Gas & Consumable Fuels) | 2,623 | ||||||
143,339 | First Quantum Minerals Ltd. (Metals & Mining) | 2,037 | ||||||
50,900 | Imperial Oil Ltd. (Oil, Gas & Consumable Fuels) | 2,193 | ||||||
26,200 | Labrador Iron Ore Royalty Corp. (Metals & Mining) | 420 | ||||||
16,200 | Potash Corp. of Saskatchewan, Inc. (Chemicals) | 573 | ||||||
15,200 | Progressive Waste Solutions Ltd. (Commercial Services & Supplies) | 457 | ||||||
11,393 | ||||||||
Cayman Islands — 0.34% | ||||||||
35,500 | AAC Technologies Holdings, Inc. (Electronic Equipment, Instruments & Components) | 190 | ||||||
46,000 | Anta Sports Products Ltd. (Textiles, Apparel & Luxury Goods) | 81 | ||||||
45,100 | Chailease Holding Co. Ltd. (Diversified Financial Services) | 112 | ||||||
288,900 | China Huishan Dairy Holdings Co. Ltd. (Food Products) ˆ | 50 | ||||||
170,000 | China Mengniu Dairy Co. Ltd. (Food Products) | 700 | ||||||
108,000 | China Resources Cement Holdings Ltd. (Construction Materials) | 70 | ||||||
13,300 | Ctrip.com International, ADR (Hotels, Restaurants & Leisure) (a) | 605 | ||||||
472,000 | GCL-Poly Energy Holdings Ltd. (Semiconductors & Semiconductor Equipment) (a) | 110 | ||||||
285,000 | Geely Automobile Holdings Ltd. (Automobiles) | 90 |
See accompanying notes to financial statements.
97
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Cayman Islands (continued) | ||||||||
54,500 | Intime Retail Group Co. Ltd. (Multiline Retail) | $ | 39 | |||||
27,000 | Kingboard Chemical Holdings Ltd. (Electronic Equipment, Instruments & Components) | 45 | ||||||
28,000 | Kingsoft Corp. Ltd. (Software) ˆ | 55 | ||||||
54,000 | Lee & Man Paper Manufacturing Ltd. (Paper & Forest Products) | 30 | ||||||
138,000 | New World China Land Ltd. (Real Estate Management & Development) | 82 | ||||||
1,029,000 | Semiconductor Manufacturing International Corp. (Semiconductor and Semiconductor Equipment) (a) | 94 | ||||||
29,000 | Shenzhou International Group (Textiles, Apparel & Luxury Goods) | 96 | ||||||
469,000 | Stella International Holdings Ltd. (Textiles, Apparel & Luxury Goods) | 1,239 | ||||||
415,565 | Tencent Holdings Ltd. (Internet Software & Services) | 6,013 | ||||||
60,000 | Uni-President China Holdings Ltd. (Food Products) | 55 | ||||||
14,000 | Zhen Ding Technology Holding Ltd. (Electronic Equipment, Instruments & Components) | 37 | ||||||
9,793 | ||||||||
Chile — 0.09% | ||||||||
129,207 | AES Gener SA (Independent Power and Renewable Electricity Producers) | 69 | ||||||
120,344 | Aguas Andinas SA, Class – A (Water Utilities) | 70 | ||||||
1,200,479 | Banco de Chile SA (Banks) | 139 | ||||||
1,869 | Banco de Credito e Inversiones SA (Banks) | 92 | ||||||
3,194,411 | Banco Santander Chile (Banks) | 161 | ||||||
879 | Cap SA (Metals & Mining) | 4 | ||||||
59,288 | Cencosud SA (Food & Staples Retailing) | 148 | ||||||
402,342 | Colbun SA (Independent Power and Renewable Electricity Producers) | 107 | ||||||
7,499 | Compania Cervecerias Unidas SA (Beverages) | 71 | ||||||
7,680,939 | CorpBanca SA (Banks) | 92 | ||||||
166,017 | Empresa Nacional de Electricidad SA (Independent Power and Renewable Electricity Producers) | 252 | ||||||
6,439 | Empresa Nacional de Telecomunicaciones SA (Wireless Telecommunication Services) | 65 | ||||||
58,680 | Empresas CMPC SA (Paper & Forest Products) | 147 | ||||||
22,070 | Empresas Copec SA (Oil, Gas & Consumable Fuels) | 249 | ||||||
947,070 | Enersis SA (Electric Utilities) | 310 | ||||||
15,666 | LATAM Airlines Group SA (Airlines) (a) | 182 | ||||||
43,435 | S.A.C.I. Falabella (Multiline Retail) | 292 | ||||||
24,405 | Vina Concha y Toro SA (Beverages) | 48 | ||||||
2,498 |
Shares | Security Description | Value (000) | ||||||
China — 1.41% | ||||||||
1,052,000 | Agricultural Bank of China Ltd., H Shares (Banks) | $ | 529 | |||||
96,000 | Air China Ltd. (Airlines) | 77 | ||||||
222,000 | Aluminum Corp. of China Ltd., H Shares (Metals & Mining) (a) | 103 | ||||||
59,000 | Anhui Conch Cement Co. Ltd., H Shares (Construction Materials) | 218 | ||||||
104,000 | AviChina Industry & Technology Co. Ltd., H Shares (Aerospace & Defense) | 64 | ||||||
33,098 | Baidu, Inc., ADR (Internet Software & Services) (a) | 7,545 | ||||||
5,890,335 | Bank of China Ltd., H Shares (Banks) | 3,307 | ||||||
432,000 | Bank of Communications Co. Ltd., H Shares (Banks) | 402 | ||||||
67,000 | BBMG Corp., H Shares (Construction Materials) | 56 | ||||||
82,000 | Beijing Capital International Airport Co. Ltd., H Shares (Transportation Infrastructure) | 65 | ||||||
27,000 | Byd Co. Ltd., H Shares (Automobiles) | 104 | ||||||
244,000 | CGN Power Co. Ltd., H Shares (Independent Power and Renewable Electricity Producers) (a) | 106 | ||||||
248,000 | China Cinda Asset Management Co. Ltd., H Shares (Capital Markets) (a) | 120 | ||||||
418,000 | China CITIC Bank Corp. Ltd., H Shares (Banks) | 333 | ||||||
184,000 | China Coal Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 115 | ||||||
207,000 | China Communications Construction Co. Ltd. (Construction & Engineering) | 248 | ||||||
132,000 | China Communications Services Corp. Ltd., H Shares (Diversified Telecommunication Services) | 62 | ||||||
3,532,000 | China Construction Bank Corp., H Shares (Banks) | 2,885 | ||||||
94,000 | China COSCO Holdings Co. Ltd., H Shares (Marine) ˆ(a) | 46 | ||||||
125,900 | China Everbright Bank Co. Ltd., H Shares (Banks) | 68 | ||||||
66,500 | China Galaxy Securities Co., H Shares (Independent Power and Renewable Electricity Producers) | 83 | ||||||
26,300 | China International Marine Containers Group Co. Ltd., H Shares (Machinery) | 58 | ||||||
359,000 | China Life Insurance Co. Ltd., H Shares (Insurance) | 1,407 | ||||||
142,000 | China Longyuan Power Group Corp. (Independent Power and Renewable Electricity Producers) | 146 | ||||||
47,000 | China Medical System Holdings Ltd. (Pharmaceuticals) | 77 | ||||||
224,500 | China Merchants Bank Co. Ltd., H Shares (Banks) | 560 | ||||||
303,000 | China Minsheng Banking Corp. Ltd., H Shares (Banks) | 396 | ||||||
140,000 | China National Building Material Co. Ltd., H Shares (Construction Materials) | 135 |
See accompanying notes to financial statements.
98
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
China (continued) | ||||||||
88,000 | China Oilfield Services Ltd., H Shares (Energy Equipment & Services) | $ | 152 | |||||
390,400 | China Pacific Insurance Group Co. Ltd. (Insurance) | 1,964 | ||||||
1,254,000 | China Petroleum & Chemical Corp., H Shares (Oil, Gas & Consumable Fuels) | 1,016 | ||||||
103,500 | China Railway Construction Corp. Ltd., H Shares (Construction & Engineering) | 131 | ||||||
177,000 | China Railway Group Ltd., H Shares (Construction & Engineering) | 145 | ||||||
96,000 | China Resources Land Ltd. (Real Estate Management & Development) | 253 | ||||||
166,500 | China Shenhua Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 491 | ||||||
206,000 | China Shipping Container Lines Co. Ltd., H Shares (Marine) (a) | 65 | ||||||
682,000 | China Telecom Corp. Ltd. (Diversified Telecommunication Services) | 395 | ||||||
68,000 | China Vanke Co. Ltd., H Shares (Real Estate Management & Development) ˆ(a) | 151 | ||||||
44,900 | Chongqing Changan Automobile Co. Ltd., Class – A (Automobiles) | 102 | ||||||
135,000 | Chongqing Rural Commercial Bank Co. Ltd., H Shares (Banks) | 84 | ||||||
52,000 | CITIC Securities Co. Ltd., H Shares (Capital Markets) | 194 | ||||||
241,000 | Country Garden Holdings Co. (Real Estate Management & Development) | 96 | ||||||
97,000 | CSR Corp. Ltd., H Shares (Machinery) | 131 | ||||||
122,000 | Datang International Power Generation Co. Ltd., H Shares (Independent Power and Renewable Electricity Producers) | 66 | ||||||
128,000 | Dongfeng Motor Group Co. Ltd., H Shares (Automobiles) | 179 | ||||||
38,000 | ENN Energy Holdings Ltd. (Gas Utilities) | 215 | ||||||
49,000 | Great Wall Motor Co. Ltd., H Shares (Automobiles) | 277 | ||||||
118,000 | Guangzhou Automobile Group Co. Ltd., H Shares (Automobiles) | 107 | ||||||
33,000 | Haitian International Holdings Ltd. (Machinery) | 69 | ||||||
62,800 | Haitong Securities Co. Ltd., H Shares (Capital Markets) | 157 | ||||||
86,000 | Huadian Power International Corp. Ltd., H Shares (Independent Power and Renewable Electricity Producers) | 75 | ||||||
154,000 | Huaneng Power International, Inc., H Shares (Independent Power and Renewable Electricity Producers) | 208 | ||||||
6,214,952 | Industrial & Commercial Bank of China Ltd., H Shares (Banks) | 4,540 | ||||||
45,300 | Inner Mongolia Yitai Coal Co. Ltd., B Shares (Oil, Gas & Consumable Fuels) | 65 | ||||||
18,400 | Jardine Matheson Holdings Ltd. (Industrial Conglomerates) | 1,118 |
Shares | Security Description | Value (000) | ||||||
China (continued) | ||||||||
62,000 | Jiangsu Expressway Co. Ltd., H Shares (Transportation Infrastructure) | $ | 74 | |||||
61,000 | Jiangxi Copper Co. Ltd., H Shares (Metals & Mining) | 104 | ||||||
72,000 | Longfor Properties (Real Estate Management & Development) | 92 | ||||||
38,600 | New China Life Insurance Co. Ltd., H Shares (Insurance) | 194 | ||||||
341,000 | People’s Insurance Co. Group of China Ltd., H Shares (Insurance) | 159 | ||||||
1,034,000 | PetroChina Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 1,148 | ||||||
720,260 | PICC Property & Casualty Co. Ltd., H Shares (Insurance)(e) | 1,390 | ||||||
326,356 | Ping An Insurance Group Co. of China (Insurance) | 3,304 | ||||||
88,000 | Shandong Weigao Group Medical Polymer Co. Ltd. (Health Care Equipment & Supplies) | 71 | ||||||
138,000 | Shanghai Electric Group Co. Ltd., H Shares (Electrical Equipment) | 73 | ||||||
70,000 | Shanghai Fosun Pharmaceutical (Group) Co. Ltd., H Shares (Pharmaceuticals) | 251 | ||||||
34,800 | Shanghai Pharmaceuticals Holding Co. Ltd., H Shares (Health Care Providers & Services) | 78 | ||||||
73,500 | Shimao Property Holdings Ltd. (Real Estate Management & Development) | 163 | ||||||
199,500 | Shui On Land Ltd. (Real Estate Management & Development) | 47 | ||||||
56,500 | Sinopec Engineering Group Co. Ltd., H Shares (Construction & Engineering) | 38 | ||||||
186,000 | Sinopec Shanghai Petrochemical Co. Ltd., H Shares (Chemicals) | 54 | ||||||
51,600 | Sinopharm Group Co. (Health Care Providers & Services) | 182 | ||||||
70,000 | Sinotrans Ltd., H Shares (Air Freight & Logistics) | 46 | ||||||
94,000 | Soho China Ltd. (Real Estate Management & Development) | 66 | ||||||
125,500 | Sun Art Retail Group Ltd. (Food & Staples Retailing) ˆ | 125 | ||||||
18,000 | Tsingtao Brewery Co. Ltd. (Beverages) | 121 | ||||||
294,000 | Want Want China Holdings Ltd. (Food Products) | 386 | ||||||
25,000 | Weichai Power Co. Ltd. (Machinery) | 105 | ||||||
84,000 | Yanzhou Coal Mining Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) ˆ | 71 | ||||||
74,000 | Zhejiang Expressway Co. Ltd., H Shares (Transportation Infrastructure) | 86 | ||||||
28,500 | Zhuzhou CSR Times Electric Co. Ltd. (Electrical Equipment) | 167 | ||||||
308,000 | Zijin Mining Group Co. Ltd., H Shares (Metals & Mining) | 87 | ||||||
32,400 | ZTE Corp., H Shares (Communications Equipment) | 70 | ||||||
40,513 |
See accompanying notes to financial statements.
99
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Colombia — 0.03% | ||||||||
9,084 | Almacenes Exito SA (Food & Staples Retailing) | $ | 112 | |||||
4,528 | Banco Davivienda SA (Banks) | 54 | ||||||
17,948 | Cementos Argos SA (Construction Materials) | 77 | ||||||
3,888 | Corporacion Financiera Colombiana SA (Diversified Financial Services) | 65 | ||||||
241,395 | Ecopetrol SA (Oil, Gas & Consumable Fuels) | 211 | ||||||
13,496 | Grupo Argos SA (Construction Materials) | 117 | ||||||
11,140 | Grupo de Inversiones Suramericana (Diversified Financial Services) | 188 | ||||||
16,956 | Interconexion Electrica SA (Electric Utilities) | 61 | ||||||
42,239 | ISAGEN SA ESP (Electric Utilities) | 53 | ||||||
938 | ||||||||
Curaçao — 0.08% | ||||||||
27,012 | Schlumberger Ltd. (Energy Equipment & Services) | 2,307 | ||||||
Czech Republic — 0.01% | ||||||||
7,953 | CEZ A/S (Electric Utilities) | 204 | ||||||
708 | Komercni Banka A/S (Banks) | 146 | ||||||
4,281 | Telefonica O2 Czech Republic A/S (Diversified Telecommunication Services) | 44 | ||||||
394 | ||||||||
Denmark — 1.45% | ||||||||
1,154 | A.P. Moller – Maersk A/S, Class – A (Marine) | 2,209 | ||||||
2,888 | A.P. Moller – Maersk A/S, Class – B (Marine) | 5,745 | ||||||
24,591 | Coloplast A/S, Class – B (Health Care Equipment & Supplies) | 2,058 | ||||||
42,762 | Genmab A/S (Biotechnology) (a) | 2,481 | ||||||
651,615 | Novo Nordisk A/S, Class – B (Pharmaceuticals) | 27,568 | ||||||
3,008 | Rockwool International A/S, B Shares (Building Products) | 338 | ||||||
121,721 | TDC A/S (Diversified Telecommunication Services) | 929 | ||||||
2,943 | Tryg A/S (Insurance) | 329 | ||||||
41,657 | ||||||||
Egypt — 0.02% | ||||||||
43,060 | Commercial International Bank Egypt SAE (Banks) | 294 | ||||||
142,421 | Orascom Telecom Holding SAE (Wireless Telecommunication Services) (a) | 80 | ||||||
45,523 | Talaat Moustafa Group (Real Estate Management & Development) | 62 | ||||||
17,067 | Telecom Egypt Co. (Diversified Telecommunication Services) | 28 | ||||||
464 | ||||||||
Faroe Islands — 0.02% | ||||||||
23,974 | Bakkafrost P/F (Food Products) | 539 |
Shares | Security Description | Value (000) | ||||||
Finland — 0.77% | ||||||||
26,774 | Elisa Oyj (Diversified Telecommunication Services) | $ | 731 | |||||
90,037 | Fortum Oyj (Electric Utilities) | 1,955 | ||||||
127,582 | Kone Oyj (Machinery) | 5,807 | ||||||
50,120 | Metso Oyj (Machinery) | 1,500 | ||||||
40,636 | Nokian Renkaat Oyj (Auto Components) | 991 | ||||||
38,419 | Orion Oyj, Class – B (Pharmaceuticals) | 1,195 | ||||||
97,798 | Sampo Oyj, A Shares (Insurance) | 4,578 | ||||||
214,413 | Stora Enso Oyj, R Shares (Paper & Forest Products) | 1,917 | ||||||
206,718 | UPM-Kymmene Oyj (Paper & Forest Products) | 3,387 | ||||||
22,061 | ||||||||
France — 8.25% | ||||||||
512,357 | AXA SA (Insurance) | 11,805 | ||||||
172,444 | BNP Paribas (Banks) | 10,179 | ||||||
115,796 | Bouygues SA (Construction & Engineering) | 4,181 | ||||||
42,059 | Casino Guichard-Perrachon SA (Food & Staples Retailing) | 3,867 | ||||||
26,116 | CNP Assurances (Insurance) | 463 | ||||||
216,011 | Compagnie de Saint-Gobain (Building Products) | 9,149 | ||||||
89,842 | Compagnie Generale des Etablissements Michelin, Class – B (Tires & Rubber) | 8,109 | ||||||
28,203 | Danone SA (Food Products) | 1,844 | ||||||
65,137 | Edenred (Commercial Services & Supplies) | 1,801 | ||||||
40,555 | Electricite de France SA (Electric Utilities) | 1,116 | ||||||
2,721 | Essilor International SA (Health Care Equipment & Supplies) | 303 | ||||||
83,973 | Eutelsat Communications (Media) | 2,715 | ||||||
7,025 | Fonciere des Regions (Real Estate Investment Trusts) | 649 | ||||||
336,827 | GDF Suez (Multi-Utilities) | 7,853 | ||||||
6,838 | Gecina SA (Real Estate Investment Trusts) | 854 | ||||||
356 | Hermes International (Textiles, Apparel & Luxury Goods) | 127 | ||||||
9,018 | Icade (Real Estate Investment Trusts) | 721 | ||||||
22,934 | Ingenico Group (Electronic Equipment, Instruments & Components) | 2,416 | ||||||
10,806 | JC Decaux SA (Media) | 372 | ||||||
24,855 | Klepierre (Real Estate Investment Trusts) ˆ | 1,067 | ||||||
63,050 | Lagardere SCA (Media) | 1,642 | ||||||
80,869 | Legrand SA (Electrical Equipment) | 4,242 | ||||||
25,988 | L’Oreal SA (Personal Products) | 4,349 | ||||||
17,891 | LVMH Moet Hennessy Louis Vuitton SA (Textiles, Apparel & Luxury Goods) | 2,833 | ||||||
64,525 | Numericable – SFR (Media) (a)(e) | 3,197 | ||||||
612,552 | Orange (Diversified Telecommunication Services) | 10,416 | ||||||
42,022 | Pernod Ricard SA (Beverages) | 4,670 | ||||||
160 | Publicis Groupe (Media) | 11 | ||||||
17,915 | Renault SA (Automobiles) | 1,305 | ||||||
116,705 | Rexel SA (Trading Companies & Distributors) | 2,091 |
See accompanying notes to financial statements.
100
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
France (continued) | ||||||||
24,636 | Safran SA (Aerospace & Defense) | $ | 1,520 | |||||
398,107 | Sanofi-Aventis (Pharmaceuticals) | 36,292 | ||||||
110,181 | Schneider Electric SA (Electrical Equipment) | 8,023 | ||||||
22,918 | SCOR SE (Insurance) | 694 | ||||||
69,357 | Societe Generale (Banks) | 2,902 | ||||||
39,723 | Suez Environnement Co. (Multi-Utilities) | 692 | ||||||
106,789 | Technicolor SA (Media) (a) | 596 | ||||||
73,347 | Technip SA (Energy Equipment & Services) | 4,369 | ||||||
768,753 | Total SA (Oil, Gas & Consumable Fuels) | 39,381 | ||||||
24,221 | Unibail-Rodamco SE (Real Estate Investment Trusts) | 6,213 | ||||||
50,847 | Veolia Environnement (Multi-Utilities) | 901 | ||||||
300,140 | Vinci SA (Construction & Engineering) | 16,386 | ||||||
354,001 | Vivendi (Diversified Telecommunication Services) | 8,810 | ||||||
157,782 | Zodiac Aerospace (Aerospace & Defense) | 5,311 | ||||||
236,437 | ||||||||
Germany — 7.68% | ||||||||
86,202 | Allianz SE (Insurance) | 14,275 | ||||||
16,183 | Axel Springer AG (Media) | 976 | ||||||
303,951 | BASF SE (Chemicals) | 25,494 | ||||||
116,055 | Bayer AG (Pharmaceuticals) | 15,817 | ||||||
147,329 | Bayerische Motoren Werke AG (Automobiles) | 15,898 | ||||||
36,192 | Beiersdorf AG (Personal Products) | 2,938 | ||||||
11,790 | Brenntag AG (Trading Companies & Distributors) | 659 | ||||||
12,785 | Continental AG (Auto Components) | 2,696 | ||||||
433,267 | Daimler AG (Automobiles) | 35,981 | ||||||
139,928 | Deutsche Bank AG (Capital Markets) | 4,190 | ||||||
19,229 | Deutsche Boerse AG (Diversified Financial Services) | 1,366 | ||||||
457,646 | Deutsche Post AG (Air Freight & Logistics) | 14,854 | ||||||
621,042 | Deutsche Telekom AG – Registered (Diversified Telecommunication Services) | 9,936 | ||||||
111,818 | Deutsche Wohnen AG (Real Estate Management & Development) | 2,637 | ||||||
180,056 | E.ON AG (Multi-Utilities) | 3,077 | ||||||
11,227 | ElringKlinger AG (Auto Components) | 388 | ||||||
8,897 | Freenet AG (Wireless Telecommunication Services) | 253 | ||||||
13,028 | Hannover Rueckversicherung AG – Registered (Insurance) | 1,175 | ||||||
23,096 | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | 2,825 | ||||||
15,915 | Indus Holding AG (Industrial Conglomerates) | 729 | ||||||
340,953 | Infineon Technologies AG (Semiconductors & Semiconductor Equipment) | 3,607 | ||||||
66,489 | Linde AG (Chemicals) | 12,246 | ||||||
17,390 | MTU Aero Engines Holding AG (Aerospace & Defense) | 1,511 |
Shares | Security Description | Value (000) | ||||||
Germany (continued) | ||||||||
27,721 | Muenchener Rueckversicherungs-Gesellschaft AG – Registered Shares (Insurance) | $ | 5,520 | |||||
76,462 | ProSiebenSat.1 Media AG (Media) | 3,194 | ||||||
48,834 | RWE AG (Multi-Utilities) | 1,507 | ||||||
52,235 | SAP AG (Software) | 3,647 | ||||||
288,151 | Siemens AG (Industrial Conglomerates) | 32,328 | ||||||
97,575 | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | 517 | ||||||
220,241 | ||||||||
Greece — 0.03% | ||||||||
188,889 | Alpha Bank AE (Banks) (a) | 106 | ||||||
409,594 | Eurobank Ergasias SA (Banks) (a) | 91 | ||||||
1,552 | Folli Follie SA (Specialty Retail) | 50 | ||||||
12,683 | Hellenic Telecommunication Organization SA (Diversified Telecommunication Services) (a) | 139 | ||||||
5,223 | JUMBO SA (Specialty Retail) | 53 | ||||||
75,427 | National Bank of Greece SA (Banks) (a) | 132 | ||||||
11,466 | Opap SA (Hotels, Restaurants & Leisure) | 123 | ||||||
99,254 | Piraeus Bank SA (Banks) (a) | 108 | ||||||
6,061 | Public Power Corp. SA (Electric Utilities) (a) | 40 | ||||||
1,998 | Titan Cement Co. SA (Construction Materials) | 46 | ||||||
888 | ||||||||
Hong Kong — 3.73% | ||||||||
2,595,718 | AIA Group Ltd. (Insurance) | 14,317 | ||||||
6,065 | Alibaba Group Holding Ltd. (Internet Software & Services) (a) | 631 | ||||||
250,000 | Alibaba Pictures Group Ltd. (Internet Software & Services) (a) | 44 | ||||||
325,000 | Beijing Enterprises Holdings Ltd. (Industrial Conglomerates) | 2,542 | ||||||
223,000 | Belle International Holdings Ltd. (Specialty Retail) | 251 | ||||||
718,505 | BOC Hong Kong (Holdings) Ltd. (Banks) | 2,394 | ||||||
146,000 | Brilliance China Automotive Holdings Ltd. (Automobiles) | 234 | ||||||
236,534 | Cheung Kong Infrastructure Holdings Ltd. (Electric Utilities) | 1,740 | ||||||
119,000 | China Agri-Industries Holdings Ltd. (Food Products) | 49 | ||||||
510,000 | China Everbright International Ltd. (Commercial Services & Supplies) | 753 | ||||||
44,000 | China Everbright Ltd. (Capital Markets) | 104 | ||||||
94,000 | China Gas Holdings Ltd. (Gas Utilities) | 147 | ||||||
655,889 | China Merchants Holdings (International) Co. Ltd. (Transportation Infrastructure) | 2,203 | ||||||
1,014,482 | China Mobile Ltd. (Wireless Telecommunication Services) | 11,883 | ||||||
200,000 | China Overseas Land & Investment Ltd. (Real Estate Management & Development) | 592 |
See accompanying notes to financial statements.
101
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Hong Kong (continued) | ||||||||
58,000 | China Resources Enterprises Ltd. (Food & Staples Retailing) | $ | 121 | |||||
42,000 | China Resources Gas Group Ltd. (Gas Utilities) | 109 | ||||||
94,000 | China Resources Power Holdings Co. Ltd. (Independent Power and Renewable Electricity Producers) | 240 | ||||||
102,000 | China South City Holdings Ltd. (Real Estate Management & Development) | 46 | ||||||
80,000 | China State Construction International Holdings Ltd. (Construction & Engineering) | 112 | ||||||
46,800 | China Taiping Insurance Holdings Co. Ltd. (Insurance) (a) | 133 | ||||||
1,130,000 | China Unicom (Hong Kong) Ltd. (Diversified Telecommunication Services) | 1,515 | ||||||
91,000 | CITIC Pacific Ltd. (Industrial Conglomerates) | 155 | ||||||
348,419 | CLP Holdings Ltd. (Electric Utilities) | 3,017 | ||||||
3,162,771 | CNOOC Ltd. (Oil, Gas & Consumable Fuels) | 4,277 | ||||||
132,000 | CSPC Pharmaceutical Group Ltd. (Pharmaceuticals) | 116 | ||||||
292,000 | Evergrande Real Estate Group Ltd. (Real Estate Management & Development) ˆ | 118 | ||||||
80,000 | Far East Horizon Ltd. (Diversified Financial Services) | 79 | ||||||
85,500 | Fosun International Ltd. (Metals & Mining) | 111 | ||||||
202,000 | Franshion Properties China Ltd. (Real Estate Management & Development) | 58 | ||||||
130,000 | Guangdong Investment Ltd. (Water Utilities) | 169 | ||||||
50,000 | Guangzhou R&F Properties Co. Ltd., H Shares (Real Estate Management & Development) | 61 | ||||||
54,000 | Haier Electronics Group Co. Ltd. (Household Durables) | 128 | ||||||
588,000 | Hanergy Thin Film Power Group Ltd. (Semiconductors & Semiconductor Equipment) ˆ | 213 | ||||||
845,000 | Hang Lung Properties Ltd. (Real Estate Management & Development) | 2,358 | ||||||
242,909 | Hang Seng Bank Ltd. (Banks) | 4,037 | ||||||
135,000 | Henderson Land Development Co. Ltd. (Real Estate Management & Development) | 938 | ||||||
36,500 | Hengan International Group Co. Ltd. (Personal Products) | 381 | ||||||
2,123,180 | HKT Trust & HKT Ltd. (Diversified Telecommunication Services) | 2,765 | ||||||
48,000 | Hutchison Whampoa Ltd. (Industrial Conglomerates) | 549 | ||||||
180,000 | Hysan Development Co. (Real Estate Management & Development) | 799 | ||||||
260,000 | Kerry Properties Ltd. (Real Estate Management & Development) | 938 |
Shares | Security Description | Value (000) | ||||||
Hong Kong (continued) | ||||||||
306,000 | Lenovo Group Ltd. (Technology Hardware, Storage & Peripherals) | $ | 400 | |||||
270,000 | Li & Fung Ltd. (Textiles, Apparel & Luxury Goods) | 253 | ||||||
15,700 | Melco Crown Entertainment Ltd., ADR (Hotels, Restaurants & Leisure) | 399 | ||||||
409,000 | MTR Corp. Ltd. (Road & Rail) | 1,674 | ||||||
1,992,000 | New World Development Co. Ltd. (Real Estate Management & Development) | 2,287 | ||||||
1,639,000 | PCCW Ltd. (Diversified Telecommunication Services) | 1,116 | ||||||
274,538 | Power Assets Holdings Ltd. (Electric Utilities) | 2,655 | ||||||
394,000 | Sands China Ltd. (Hotels, Restaurants & Leisure) | 1,918 | ||||||
21,000 | Shanghai Industrial Holdings Ltd. (Industrial Conglomerates) | 63 | ||||||
156,000 | Sino Biopharmaceutiical Ltd. (Pharmaceuticals) | 141 | ||||||
967,839 | Sino Land Co. Ltd. (Real Estate Management & Development) | 1,554 | ||||||
177,000 | Sino-Ocean Land Holdings Ltd. (Real Estate Management & Development) | 100 | ||||||
1,797,899 | SJM Holdings Ltd. (Hotels, Restaurants & Leisure) | 2,843 | ||||||
625,040 | Sun Hung Kai Properties Ltd. (Real Estate Management & Development) | 9,470 | ||||||
304,326 | Swire Pacific Ltd., Class – A (Real Estate Management & Development) | 3,950 | ||||||
255,341 | The Bank of East Asia Ltd. (Banks) | 1,026 | ||||||
1,023,618 | The Link Real Estate Investment Trust (Real Estate Investment Trusts) | 6,409 | ||||||
1,245,300 | The Wharf (Holdings) Ltd. (Real Estate Management & Development) | 8,940 | ||||||
98,000 | Tingyi (Cayman Islands) Holding Corp. (Food Products) | 223 | ||||||
292,000 | Yuexiu Property Co. Ltd. (Real Estate Management & Development) | 56 | ||||||
106,904 | ||||||||
Hungary — 0.01% | ||||||||
2,136 | MOL Hungarian Oil & Gas PLC (Oil, Gas & Consumable Fuels) | 94 | ||||||
9,970 | OTP Bank Nyrt PLC (Banks) | 144 | ||||||
7,107 | Richter Gedeon Nyrt (Pharmaceuticals) | 96 | ||||||
334 | ||||||||
India — 0.06% | ||||||||
53,900 | Infosys Ltd., ADR (IT Services) | 1,696 | ||||||
Indonesia — 0.18% | ||||||||
220,600 | Media Nusantara Citra (Media) | 45 | ||||||
621,300 | PT Adaro Energy Tbk (Oil, Gas & Consumable Fuels) | 52 | ||||||
20,600 | PT Astra Agro Lestari Tbk (Food Products) | 40 | ||||||
985,700 | PT Astra International Tbk (Automobiles) | 588 | ||||||
598,800 | PT Bank Central Asia Tbk (Banks) | 635 | ||||||
201,700 | PT Bank Danamon Indonesia Tbk (Banks) | 73 | ||||||
431,900 | PT Bank Mandiri Tbk (Banks) | 376 |
See accompanying notes to financial statements.
102
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Indonesia (continued) | ||||||||
343,100 | PT Bank Negara Indonesia Persero Tbk (Banks) | $ | 168 | |||||
540,500 | PT Bank Rakyat Indonesia Persero Tbk (Banks) | 508 | ||||||
365,000 | PT Bumi Serpong Damai (Real Estate Management & Development) | 53 | ||||||
385,800 | PT Charoen Pokphand Indonesia Tbk (Food Products) | 117 | ||||||
371,000 | PT Global MediaCom Tbk (Media) | 43 | ||||||
24,900 | PT Gudang Garam Tbk (Tobacco) | 122 | ||||||
20,900 | PT Indo Tambangraya Megah Tbk (Oil, Gas & Consumable Fuels) | 26 | ||||||
67,100 | PT Indocement Tunggal Prakarsa Tbk (Construction Materials) | 135 | ||||||
60,200 | PT Indofood CBP Sukses Makmur Tbk (Food Products) | 64 | ||||||
195,500 | PT Indofood Sukses Makmur Tbk (Food Products) | 107 | ||||||
108,500 | PT Jasa Marga Persero Tbk (Transportation Infrastructure) | 62 | ||||||
1,027,600 | PT Kalbe Farma Tbk (Pharmaceuticals) | 152 | ||||||
1,039,100 | PT Lippo Karawaci Tbk (Real Estate Management & Development) | 85 | ||||||
108,300 | PT Matahari Department Store Tbk (Multiline Retail) | 131 | ||||||
526,600 | PT Perusahaan Gas Negara Tbk (Gas Utilities) | 255 | ||||||
139,600 | PT Semen Gresik (Persero) Tbk (Construction Materials) | 183 | ||||||
227,600 | PT Surya Citra Media Tbk (Media) | 64 | ||||||
43,400 | PT Tambang Batubara Bukit Asam Tbk (Oil, Gas & Consumable Fuels) | 43 | ||||||
2,366,400 | PT Telekomunikasi Indonesia Persero Tbk (Diversified Telecommunication Services) | 544 | ||||||
95,800 | PT Tower Bersama Infrastructure Tbk (Wireless Telecommunication Services) | 75 | ||||||
71,300 | PT Unilever Indonesia Tbk (Household Products) | 185 | ||||||
76,000 | PT United Tractors Tbk (Machinery) | 106 | ||||||
141,100 | PT XL Axiata Tbk (Diversified Telecommunication Services) | 55 | ||||||
5,092 | ||||||||
Ireland — 0.64% | ||||||||
3,401,909 | Bank of Ireland (Banks) (a) | 1,275 | ||||||
86,961 | Covidien PLC (Health Care Equipment & Supplies) | 8,894 | ||||||
184,528 | CRH PLC (Construction Materials) | 4,437 | ||||||
87,912 | Experian PLC (Professional Services) | 1,482 | ||||||
131,784 | Greencore Group PLC (Personal Products) | 585 | ||||||
18,489 | Ryanair Holdings PLC, ADR (Airlines) (a) | 1,318 | ||||||
17,055 | Smurfit Kappa Group PLC (Containers & Packaging) | 383 | ||||||
18,374 |
Shares | Security Description | Value (000) | ||||||
Israel — 0.45% | ||||||||
158,816 | Bank Leumi Le-Israel (Banks) (a) | $ | 543 | |||||
539,809 | Bezeq The Israeli Telecommunication Corp. Ltd. (Diversified Telecommunication Services) | 959 | ||||||
2,389 | Delek Group Ltd. (Oil, Gas & Consumable Fuels) | 600 | ||||||
261,458 | Israel Chemicals Ltd. (Chemicals) | 1,884 | ||||||
733,991 | Israel Discount Bank, Class – A (Banks) (a) | 1,174 | ||||||
136,459 | Teva Pharmaceutical Industries Ltd. (Pharmaceuticals) | 7,836 | ||||||
12,996 | ||||||||
Italy — 1.11% | ||||||||
26,540 | Assicurazioni Generali SpA (Insurance) | 545 | ||||||
121,851 | Atlantia SpA (Transportation Infrastructure) | 2,832 | ||||||
1,263,795 | Enel SpA (Electric Utilities) | 5,633 | ||||||
1,046,629 | Eni SpA (Oil, Gas & Consumable Fuels) | 18,330 | ||||||
248,644 | Intesa Sanpaolo SpA (Banks) | 722 | ||||||
278,207 | Intesa Sanpaolo SpA (Banks) | 685 | ||||||
149,706 | Snam Rete Gas SpA (Gas Utilities) | 741 | ||||||
1,072,189 | Telecom Italia SpA (Diversified Telecommunication Services) | 1,144 | ||||||
889,269 | Telecom Italia SpA (Diversified Telecommunication Services) | 743 | ||||||
110,860 | Terna – Rete Elettrica Nationale SpA (Electric Utilities) | 503 | ||||||
31,878 | ||||||||
Japan — 18.78% | ||||||||
298,225 | Aeon Co. Ltd. (Food & Staples Retailing) | 2,998 | ||||||
12,700 | Aeon Credit Service Co. Ltd. (Consumer Finance) | 251 | ||||||
94,832 | Aisin Seiki Co. Ltd. (Auto Components) | 3,408 | ||||||
21,200 | Ajinomoto Co., Inc. (Food Products) | 395 | ||||||
76,100 | Alfresa Holdings Corp. (Health Care Providers & Services) | 919 | ||||||
30,100 | ALPS ELECTRIC Co. Ltd. (Electronic Equipment, Instruments & Components) | 569 | ||||||
128,000 | Aozora Bank Ltd. (Banks) | 396 | ||||||
503,575 | Asahi Glass Co. Ltd. (Building Products) ˆ | 2,452 | ||||||
255,000 | Asahi Kasei Corp. (Chemicals) | 2,327 | ||||||
99,400 | Astellas Pharma, Inc. (Pharmaceuticals) | 1,384 | ||||||
36,249 | Benesse Holdings, Inc. (Diversified Consumer Services) | 1,076 | ||||||
431,888 | Bridgestone Corp. (Auto Components) | 14,980 | ||||||
685,067 | Canon, Inc. (Technology Hardware, Storage & Peripherals) | 21,778 | ||||||
280,079 | Dai Nippon Printing Co. Ltd. (Commercial Services & Supplies) | 2,522 | ||||||
93,912 | Daihatsu Motor Co. Ltd. (Automobiles) | 1,227 | ||||||
332,591 | Daiichi Sankyo Co. Ltd. (Pharmaceuticals) | 4,651 | ||||||
24,167 | Daito Trust Construction Co. Ltd. (Real Estate Management & Development) | 2,742 | ||||||
344,000 | Daiwa House Industry Co. Ltd. (Real Estate Management & Development) | 6,499 |
See accompanying notes to financial statements.
103
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
59,300 | Denso Corp. (Auto Components) | $ | 2,764 | |||||
27,500 | East Japan Railway Co. (Road & Rail) | 2,073 | ||||||
125,071 | Eisai Co. Ltd. (Pharmaceuticals) | 4,838 | ||||||
24,900 | EXEDY Corp. (Auto Components) | 600 | ||||||
29,557 | FamilyMart Co. Ltd. (Food & Staples Retailing) | 1,113 | ||||||
13,300 | Fanuc Ltd. (Machinery) | 2,193 | ||||||
91,000 | Fukuoka Financial Group, Inc. (Banks) | 469 | ||||||
60,600 | Hamamatsu Photonics K.K. (Electronic Equipment, Instruments & Components) | 2,885 | ||||||
81,500 | HASEKO Corp. (Household Durables) | 656 | ||||||
7,200 | Hikari Tsushin, Inc. (Specialty Retail) | 438 | ||||||
47,000 | Hino Motors Ltd. (Machinery) | 619 | ||||||
24,700 | Hisamitsu Pharmaceutical Co., Inc. (Pharmaceuticals) | 779 | ||||||
46,500 | Hitachi Construction Machinery Co. Ltd. (Construction & Farm Machinery & Heavy Trucks) | 983 | ||||||
655,000 | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | 4,835 | ||||||
19,400 | Hokuriku Electric Power Co. (Electric Utilities) | 248 | ||||||
768,624 | Honda Motor Co. Ltd. (Automobiles) | 22,554 | ||||||
213,795 | HOYA Corp. (Electronic Equipment, Instruments & Components) | 7,232 | ||||||
42,300 | Idemitsu Kosan Co. Ltd. (Oil, Gas & Consumable Fuels) | 699 | ||||||
1,187,000 | IHI Corp. (Machinery) | 6,013 | ||||||
69,900 | Iida Group Holdings Co. Ltd. (Household Durables) | 852 | ||||||
797,668 | ITOCHU Corp. (Trading Companies & Distributors) | 8,517 | ||||||
12,193 | ITOCHU Techno-Solutions Corp. (IT Services) | 430 | ||||||
142,000 | Japan Airlines Co. Ltd. (Airlines) | 4,211 | ||||||
28,000 | Japan Aviation Electronics Industry Ltd. (Electronic Equipment, Instruments & Components) | 612 | ||||||
186 | Japan Prime Realty Investment Corp. (Real Estate Investment Trusts) | 647 | ||||||
280 | Japan Real Estate Investment Corp. (Real Estate Investment Trusts) | 1,349 | ||||||
559 | Japan Retail Fund Investment Corp. (Real Estate Investment Trusts) | 1,182 | ||||||
578,597 | Japan Tobacco, Inc. (Tobacco) | 15,927 | ||||||
107,000 | JGC Corp. (Construction & Engineering) | 2,203 | ||||||
223,845 | JS Group Corp. (Building Products) | 4,712 | ||||||
89,983 | JSR Corp. (Chemicals) | 1,545 | ||||||
1,131,924 | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | 4,405 | ||||||
31,900 | Kakaku.com, Inc. (Internet Software & Services) | 456 | ||||||
149,602 | Kaneka Corp. (Chemicals) | 802 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
504,451 | Kawasaki Heavy Industries Ltd. (Machinery) | $ | 2,294 | |||||
351,944 | KDDI Corp. (Wireless Telecommunication Services) | 22,114 | ||||||
11,950 | Keyence Corp. (Electronic Equipment, Instruments & Components) | 5,326 | ||||||
428,932 | Kirin Holdings Co. Ltd. (Beverages) | 5,331 | ||||||
1,338,000 | Kobe Steel Ltd. (Metals & Mining) | 2,305 | ||||||
562,100 | Komatsu Ltd. (Machinery) | 12,430 | ||||||
43,400 | Konami Corp. (Home Entertainment Software) | 796 | ||||||
221,000 | Kubota Corp. (Machinery) | 3,208 | ||||||
169,429 | Kuraray Co. Ltd. (Chemicals) | 1,925 | ||||||
57,100 | Kurita Water Industries Ltd. (Machinery) | 1,191 | ||||||
116,853 | Kyowa Hakko Kirin Co. Ltd. (Pharmaceuticals) | 1,101 | ||||||
31,526 | Lawson, Inc. (Food & Staples Retailing) | 1,905 | ||||||
984,731 | Marubeni Corp. (Trading Companies & Distributors) | 5,893 | ||||||
22,677 | Maruichi Steel Tube Ltd. (Metals & Mining) | 483 | ||||||
24,200 | Miraca Holdings, Inc. (Health Care Providers & Services) | 1,041 | ||||||
58,500 | MIRAIT Holdings Corp. (Construction & Engineering) | 664 | ||||||
642,700 | Mitsubishi Chemical Holdings Corp. (Chemicals) | 3,118 | ||||||
734,140 | Mitsubishi Corp. (Trading Companies & Distributors) | 13,437 | ||||||
51,000 | Mitsubishi Electric Corp. (Heavy Electrical Equipment) | 606 | ||||||
167,000 | Mitsubishi Gas Chemical Co., Inc. (Chemicals) | 838 | ||||||
483,000 | Mitsubishi Materials Corp. (Metals & Mining) | 1,603 | ||||||
110,343 | Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals) | 1,618 | ||||||
2,239,282 | Mitsubishi UFJ Financial Group, Inc. (Banks) | 12,306 | ||||||
860,326 | Mitsui & Co. Ltd. (Trading Companies & Distributors) | 11,524 | ||||||
604,000 | Mitsui Mining & Smelting Co. Ltd. (Metals & Mining) | 1,458 | ||||||
2,844,092 | Mizuho Financial Group, Inc. (Banks) | 4,768 | ||||||
57,500 | MS&AD Insurance Group Holdings, Inc. (Insurance) | 1,363 | ||||||
15,600 | Murata Manufacturing Co. Ltd. (Electronic Equipment, Instruments & Components) | 1,703 | ||||||
165,327 | NGK Insulators Ltd. (Machinery) | 3,389 | ||||||
73,900 | NHK Spring Co. Ltd. (Auto Components) | 643 | ||||||
423,000 | Nikon Corp. (Household Durables) | 5,620 | ||||||
7,100 | Nintendo Co. Ltd. (Software) | 741 | ||||||
317 | Nippon Building Fund, Inc. (Real Estate Investment Trusts) | 1,592 |
See accompanying notes to financial statements.
104
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
172,000 | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components) | $ | 774 | |||||
396,172 | Nippon Express Co. Ltd. (Road & Rail) | 2,008 | ||||||
9,000 | Nippon Paint Holdings Co. Ltd. (Chemicals) | 261 | ||||||
317 | Nippon Prologis REIT, Inc. (Real Estate Investment Trusts) | �� | 688 | |||||
115,789 | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | 5,916 | ||||||
614,000 | Nippon Yusen Kabushiki Kaisha (Marine) | 1,735 | ||||||
113,300 | NIPRO Corp. (Health Care Equipment & Supplies) | 976 | ||||||
1,508,879 | Nissan Motor Co. Ltd. (Automobiles) | 13,162 | ||||||
42,502 | NKSJ Holdings, Inc. (Insurance) | 1,069 | ||||||
28,200 | Nomura Real Estate Holdings, Inc. (Real Estate Management & Development) | 483 | ||||||
148,200 | North Pacific Bank Ltd. (Banks) | 572 | ||||||
72,000 | NSK Ltd. (Machinery) | 850 | ||||||
47,790 | NTT Data Corp. (IT Consulting & Other Services) | 1,781 | ||||||
374,800 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 5,459 | ||||||
397,090 | Oji Paper Co. Ltd. (Paper & Forest Products) | 1,421 | ||||||
175,000 | Olympus Corp. (Health Care Equipment & Supplies) (a) | 6,131 | ||||||
40,800 | OMRON Corp. (Electronic Equipment, Instruments & Components) | 1,826 | ||||||
12,900 | Ono Pharmaceutical Co. Ltd. (Pharmaceuticals) | 1,142 | ||||||
38,200 | Oracle Corp. Japan (Software) | 1,557 | ||||||
48,700 | ORIX Corp. (Diversified Financial Services) | 613 | ||||||
236,477 | Osaka Gas Co. Ltd. (Gas Utilities) | 883 | ||||||
20,500 | Otsuka Corp. (IT Consulting & Other Services) | 650 | ||||||
181,681 | Otsuka Holdings Co. Ltd. (Pharmaceuticals) | 5,448 | ||||||
165,500 | Panasonic Corp. (Household Durables) | 1,950 | ||||||
50,300 | Park24 Co. Ltd. (Commercial Services & Supplies) | 741 | ||||||
35,500 | Recruit Holdings Co. Ltd. (Professional Services) (a)(b) | 1,020 | ||||||
483,985 | Resona Holdings, Inc. (Banks) | 2,445 | ||||||
305,700 | Ricoh Co. Ltd. (Office Electronics) | 3,091 | ||||||
9,100 | Rinnai Corp. (Household Durables) | 612 | ||||||
15,900 | Rohto Pharmaceutical Co. Ltd. (Pharmaceuticals) | 199 | ||||||
12,100 | Ryohin Keikaku Co. (Multiline Retail) | 1,492 | ||||||
27,004 | Sankyo Co. Ltd. (Leisure Products) | 927 | ||||||
207,457 | Sekisui Chemical Co. Ltd. (Household Durables) | 2,496 | ||||||
267,265 | Sekisui House Ltd. (Household Durables) | 3,517 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
5,600 | Shimano, Inc. (Leisure Products) | $ | 725 | |||||
52,500 | Shin-Etsu Chemical Co. Ltd. (Chemicals) | 3,418 | ||||||
60,900 | SHOWA Corp. (Auto Components) | 563 | ||||||
89,400 | Showa Shell Sekiyu K.K. (Oil, Gas & Consumable Fuels) ˆ | 881 | ||||||
5,000 | SMC Corp. (Machinery) | 1,311 | ||||||
119,810 | SoftBank Corp. (Wireless Telecommunication Services) | 7,133 | ||||||
458,400 | Sojitz Corp. (Trading Companies & Distributors) | 640 | ||||||
18,800 | Sony Financial Holdings, Inc. (Life & Health Insurance) | 277 | ||||||
686,000 | Sumitomo Chemical Co. Ltd. (Chemicals) | 2,701 | ||||||
561,600 | Sumitomo Corp. (Trading Companies & Distributors) | 5,769 | ||||||
242,000 | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | 3,609 | ||||||
478,123 | Sumitomo Mitsui Financial Group, Inc. (Banks) | 17,289 | ||||||
913,000 | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | 3,498 | ||||||
238,531 | Sumitomo Rubber Industries Ltd. (Auto Components) | 3,547 | ||||||
24,100 | Sysmex Corp. (Health Care Equipment & Supplies) | 1,070 | ||||||
49,300 | T&D Holdings, Inc. (Life & Health Insurance) | 591 | ||||||
390,585 | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | 16,171 | ||||||
108,000 | Takuma Co. Ltd. (Machinery) | 717 | ||||||
32,000 | The Chugoku Electric Power Co., Inc. (Electric Utilities) | 418 | ||||||
193,000 | The San-in Godo Bank Ltd. (Banks) | 1,451 | ||||||
102,000 | The Yokohama Rubber Co. Ltd. (Auto Components) | 929 | ||||||
85,225 | Tokio Marine Holdings, Inc. (Insurance) | 2,768 | ||||||
142,135 | TonenGeneral Sekiyu K.K. (Oil, Gas & Consumable Fuels) | 1,214 | ||||||
273,545 | Toppan Printing Co. Ltd. (Commercial Services & Supplies) | 1,778 | ||||||
122,000 | TOTO Ltd. (Building Products) | 1,419 | ||||||
31,481 | Toyoda Gosei Co. Ltd. (Auto Components) | 633 | ||||||
814,800 | Toyota Motor Corp. (Automobiles) | 50,784 | ||||||
98,300 | Toyota Tsusho Corp. (Trading Companies & Distributors) | 2,284 | ||||||
94,000 | Trend Micro, Inc. (Software) ˆ | 2,598 | ||||||
24,300 | Unicharm Corp. (Household Products) | 583 | ||||||
559 | United Urban Investment Corp. (Real Estate Investment Trusts) | 880 | ||||||
110,100 | USS Co. Ltd. (Specialty Retail) | 1,692 | ||||||
156,368 | West Japan Railway Co. (Road & Rail) | 7,394 | ||||||
715,900 | Yahoo Japan Corp. (Internet Software & Services) | 2,567 | ||||||
11,900 | Yamato Holdings Co. Ltd. (Air Freight & Logistics) | 236 | ||||||
538,182 |
See accompanying notes to financial statements.
105
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Jersey — 0.41% | ||||||||
468,495 | Glencore International PLC (Metals & Mining) | $ | 2,162 | |||||
42,567 | Petrofac Ltd. (Energy Equipment & Services) | 464 | ||||||
52,560 | Shire PLC (Pharmaceuticals) | 3,726 | ||||||
28,158 | Wolseley PLC (Trading Companies & Distributors) | 1,610 | ||||||
186,976 | WPP PLC (Media) | 3,887 | ||||||
11,849 | ||||||||
Korea, Republic Of — 0.00% | ||||||||
783 | KEPCO Plant Service & Engineering Co. Ltd. (Commercial Services & Supplies) | 57 | ||||||
Luxembourg — 0.38% | ||||||||
72,658 | GAGFAH SA (Real Estate Management & Development) (a) | 1,622 | ||||||
13,543 | RTL Group (Media) | 1,291 | ||||||
218,347 | SES – FDR, Class – A (Media) | 7,851 | ||||||
10,764 | ||||||||
Malaysia — 0.23% | ||||||||
71,000 | Airasia Berhad (Airlines) | 55 | ||||||
51,700 | Alliance Financial Group Berhad (Banks) | 70 | ||||||
85,400 | AMMB Holdings Berhad (Banks) | 160 | ||||||
82,100 | Astro Malaysia Holdings Berhad (Media) | 71 | ||||||
123,700 | Axiata Group Berhad (Wireless Telecommunication Services) | 249 | ||||||
38,372 | Berjaya Sports Toto Berhard (Hotels, Restaurants & Leisure) | 38 | ||||||
6,700 | British American Tobacco Malaysia Berhad (Tobacco) | 124 | ||||||
86,400 | Bumi Armada Berhad (Energy Equipment & Services) | 27 | ||||||
233,000 | CIMB Group Holdings Berhad (Banks) | 370 | ||||||
162,488 | Dialog Group Berhad (Construction & Engineering) | 70 | ||||||
159,100 | DiGi.Com Berhad (Wireless Telecommunication Services) | 281 | ||||||
70,200 | Felda Global Ventures Holdings Berhad (Food Products) | 44 | ||||||
90,300 | Gamuda Berhad (Construction & Engineering) | 130 | ||||||
105,600 | Genting Berhad (Hotels, Restaurants & Leisure) | 268 | ||||||
151,600 | Genting Malaysia Berhad (Hotels, Restaurants & Leisure) | 176 | ||||||
13,800 | Genting Plantations Berhad (Food Products) | 39 | ||||||
26,200 | Hong Leong Bank Berhad (Banks) | 105 | ||||||
11,700 | Hong Leong Financial Group Berhad (Banks) | 55 | ||||||
120,100 | Ihh Healthcare Berhad (Health Care Providers & Services) | 165 | ||||||
55,500 | IJM Corp. Berhad (Construction & Engineering) | 104 | ||||||
137,300 | IOI Corp. Berhad (Food Products) | 189 |
Shares | Security Description | Value (000) | ||||||
Malaysia (continued) | ||||||||
71,600 | IOI Properties Group Berhad (Real Estate Management & Development) | $ | 50 | |||||
24,500 | Kuala Lumpur Kepong Berhad (Food Products) | 160 | ||||||
20,800 | Lafarge Malayan Cement Berhad (Construction Materials) | 58 | ||||||
220,100 | Malayan Banking Berhad (Banks) | 577 | ||||||
28,400 | Malaysia Airports holdings Berhad (Transportation Infrastructure) | 55 | ||||||
100,000 | Maxis Berhad (Wireless Telecommunication Services) | 195 | ||||||
56,300 | MISC Berhad (Marine) | 116 | ||||||
137,400 | Petronas Chemicals Group Berhad (Chemicals) | 214 | ||||||
12,400 | Petronas Dagangan Berhad (Oil, Gas & Consumable Fuels) | 61 | ||||||
29,000 | Petronas Gas Berhad (Gas Utilities) | 184 | ||||||
23,800 | PPB Group Berhad (Food Products) | 97 | ||||||
129,740 | Public Bank Berhad (Banks) | 677 | ||||||
20,800 | RHB Capital Berhad (Banks) | 45 | ||||||
172,300 | SapuraKencana Petroleum Berhad (Energy Equipment & Services) | 114 | ||||||
138,800 | Sime Darby Berhad (Industrial Conglomerates) | 365 | ||||||
50,300 | Telekom Malaysia Berhad (Diversified Telecommunication Services) | 99 | ||||||
140,800 | Tenega Nasional Berhad (Electric Utilities) | 555 | ||||||
80,900 | UEM Sunrise Berhad (Real Estate Management & Development) | 32 | ||||||
28,500 | UMW Holdings Berhad (Automobiles) | 90 | ||||||
216,100 | YTL Corp. Berhad (Multi-Utilities) | 98 | ||||||
75,600 | YTL Power International Berhad (Multi-Utilities) | 32 | ||||||
6,664 | ||||||||
Malta — 0.00% | ||||||||
16,382 | Brait SE (Diversified Financial Services) | 111 | ||||||
Mexico — 0.46% | ||||||||
140,800 | Alfa SAB de CV, Class – A (Industrial Conglomerates) (a) | 314 | ||||||
1,667,300 | America Movil SAB de CV (Wireless Telecommunication Services) | 1,854 | ||||||
17,100 | Arca Continental SAB de CV (Beverages) (a) | 108 | ||||||
18,100 | Cemex SAB de CV, ADR (Construction Materials) (a) | 184 | ||||||
578,376 | Cemex SAB de CV (Construction Materials) (a) | 590 | ||||||
19,900 | Coca-Cola FEMSA SAB de CV, Series L (Beverages) | 171 | ||||||
58,100 | Compartamos SAB de CV (Consumer Finance) (a) | 117 | ||||||
21,700 | Controladora Comercial Mexicana SAB de C.V (Food & Staples Retailing) | 77 | ||||||
9,600 | El Puerto de Liverpool SAB de CV, Class – C1 (Multiline Retail) (a) | 96 |
See accompanying notes to financial statements.
106
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Mexico (continued) | ||||||||
108,500 | Fibra Uno Amdinistracion SA (Real Estate Investment Trusts) | $ | 320 | |||||
94,300 | Fomento Economico Mexicano SAB de CV (Beverages) (a) | 837 | ||||||
42,400 | Genomma Lab Internacional SAB de CV, B Shares (Pharmaceuticals) (a) | 81 | ||||||
7,900 | Gruma, S.A.B de CV, Class – B (Food Products) | 84 | ||||||
16,100 | Grupo Aeroportuario del Pacifico SAB de CV, B Shares (Transportation Infrastructure) | 101 | ||||||
10,800 | Grupo Aeroportuario del Sureste SAB de CV, Class – B (Transportation Infrastructure) (a) | 143 | ||||||
80,900 | Grupo Bimbo SAB de CV (Food Products) (a) | 223 | ||||||
28,800 | Grupo Carso SAB de CV, Series A1 (Industrial Conglomerates) | 142 | ||||||
19,100 | Grupo Comercial Chedraui SAB de CV (Food & Staples Retailing) (a) | 55 | ||||||
119,100 | Grupo Financiero Banorte SAB de CV (Banks) | 656 | ||||||
114,300 | Grupo Financiero Inbursa, SAB de CV, Class – O (Banks) | 295 | ||||||
86,500 | Grupo Financiero Santander Mexico SAB de CV, B Shares (Banks) | 181 | ||||||
16,500 | Grupo Lala SAB de CV (Food Products) (a) | 32 | ||||||
188,900 | Grupo Mexico SAB de CV, Series B (Metals & Mining) | 548 | ||||||
113,336 | Grupo Televisa SA, ADR (Media) | 3,860 | ||||||
128,300 | Grupo Televisa SAB de CV (Media) (a) | 875 | ||||||
6,380 | Industrias Penoles SAB de CV (Metals & Mining) | 125 | ||||||
75,300 | Kimberly-Clark de Mexico SAB de CV, A Shares (Household Products) | 164 | ||||||
47,200 | Mexichem SAB de CV (Chemicals) (a) | 143 | ||||||
35,000 | Minera Frisco SAB de CV, Class – A1 (Metals & Mining) (a) | 51 | ||||||
30,200 | Ohl Mexico SAB de CV (Transportation Infrastructure) (a) | 56 | ||||||
12,700 | Promotora y Operadora de Infraestructura SAB de CV (Construction & Engineering) (a) | 153 | ||||||
255,200 | Wal-Mart de Mexico SAB de CV, Series V (Food & Staples Retailing) | 548 | ||||||
13,184 | ||||||||
Netherlands — 3.25% | ||||||||
80,839 | AEGON NV (Insurance) | 608 | ||||||
14,400 | Aercap Holdings NV (Aerospace & Defense) (a) | 559 | ||||||
13,400 | AerCap Holdings NV (Trading Companies & Distributors) (a) | 520 | ||||||
162,601 | Akzo Nobel NV (Chemicals) | 11,249 | ||||||
126,414 | ASML Holding NV (Semiconductors & Semiconductor Equipment) | 13,658 | ||||||
13,219 | ASML Holding NV, NYS (Semiconductors & Semiconductor Equipment) | 1,425 |
Shares | Security Description | Value (000) | ||||||
Netherlands (continued) | ||||||||
4,863 | Corio NV (Real Estate Investment Trusts) | $ | 238 | |||||
9,769 | Delta Lloyd NV (Insurance) | 215 | ||||||
80,512 | European Aeronautic Defence & Space Co. (Aerospace & Defense) | 3,980 | ||||||
7,048 | Fugro NV (Energy Equipment & Services) | 146 | ||||||
38,237 | Gemalto NV (Software) ˆ | 3,120 | ||||||
65,473 | ING Groep NV (Banks) (a) | 846 | ||||||
309,418 | Koninklijke Ahold NV (Food & Staples Retailing) | 5,499 | ||||||
13,704 | Koninklijke Boskalis Westminster NV (Construction & Engineering) | 750 | ||||||
83,615 | Koninklijke DSM NV (Chemicals) | 5,099 | ||||||
195,998 | Koninklijke Philips Electronics NV (Industrial Conglomerates) | 5,681 | ||||||
46,841 | NN Group NV (Insurance) (a) | 1,398 | ||||||
17,403 | Randstad Holding NV (Professional Services) | 837 | ||||||
444,474 | Reed Elsevier NV (Media) | 10,613 | ||||||
425,725 | TNT NV (Air Freight & Logistics) (a) | 1,582 | ||||||
579,522 | Unilever NV (Food Products) | 22,666 | ||||||
53,545 | Wolters Kluwer NV (Media) | 1,634 | ||||||
43,500 | Yandex NV (Internet Software & Services) (a) | 781 | ||||||
93,104 | ||||||||
New Zealand — 0.06% | ||||||||
118,896 | Auckland International Airport Ltd. (Transportation Infrastructure) | 391 | ||||||
196,200 | Infratil Ltd. (Electric Utilities) | 459 | ||||||
397,133 | Telecom Corp. of New Zealand Ltd. (Diversified Telecommunication Services) | 962 | ||||||
1,812 | ||||||||
Norway — 0.75% | ||||||||
138,833 | DNB ASA (Banks) | 2,049 | ||||||
20,233 | Gjensidige Forsikring ASA (Insurance) | 330 | ||||||
314,241 | Orkla ASA (Food Products) | 2,141 | ||||||
670,140 | Statoil ASA (Oil, Gas & Consumable Fuels) | 11,808 | ||||||
254,682 | Telenor ASA (Diversified Telecommunication Services) | 5,155 | ||||||
21,483 | ||||||||
Papua New Guinea — 0.09% | ||||||||
394,390 | Oil Search Ltd. (Oil, Gas & Consumable Fuels) | 2,528 | ||||||
Peru — 0.02% | ||||||||
9,800 | Compania de Minas Buenaventura SA, ADR (Metals & Mining) | 94 | ||||||
3,300 | Credicorp Ltd. (Banks) | 528 | ||||||
622 | ||||||||
Philippines — 0.08% | ||||||||
100,830 | Aboitiz Equity Ventures, Inc. (Industrial Conglomerates) | 118 | ||||||
68,900 | Aboitiz Power Corp. (Independent Power and Renewable Electricity Producers) | 66 |
See accompanying notes to financial statements.
107
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Philippines (continued) | ||||||||
106,000 | Alliance Global Group, Inc. (Industrial Conglomerates) | $ | 53 | |||||
8,270 | Ayala Corp. (Diversified Financial Services) | 128 | ||||||
315,000 | Ayala Land, Inc. (Real Estate Management & Development) | 235 | ||||||
40,520 | Bank of the Philippine Islands (Banks) | 85 | ||||||
74,180 | BDO Unibank, Inc. (Banks) | 182 | ||||||
205,000 | DMCI Holdings, Inc. (Industrial Conglomerates) | 72 | ||||||
433,700 | Energy Development Corp. (Independent Power and Renewable Electricity Producers) | 78 | ||||||
1,850 | Globe Telecom, Inc. (Wireless Telecommunication Services) | 71 | ||||||
26,590 | International Container Terminal Services, Inc. (Transportation Infrastructure) | 68 | ||||||
125,900 | JG Summit Holdings, Inc. (Industrial Conglomerates) | 183 | ||||||
21,880 | Jollibee Foods Corp. (Hotels, Restaurants & Leisure) | 105 | ||||||
356,000 | Megaworld Corp. (Real Estate Management & Development) | 37 | ||||||
569,000 | Metro Pacific Investments Corp. (Diversified Financial Services) | 58 | ||||||
15,310 | Metropolitan Bank & Trust Co. (Banks) | 28 | ||||||
4,365 | Philippine Long Distance Telephone Co. (Wireless Telecommunication Services) | 282 | ||||||
7,340 | SM Investments Corp. (Industrial Conglomerates) | 132 | ||||||
518,400 | SM Prime Holdings, Inc. (Real Estate Management & Development) | 196 | ||||||
44,920 | Universal Robina Corp. (Food Products) | 196 | ||||||
2,373 | ||||||||
Poland — 0.10% | ||||||||
1,871 | Alior Bank SA (Banks) (a) | 41 | ||||||
1,729 | Bank Handlowy w Warszawie SA (Banks) | 52 | ||||||
23,377 | Bank Millennium SA (Banks) | 55 | ||||||
6,324 | Bank Pekao SA (Banks) | 318 | ||||||
1,447 | Bank Zachodni WBK SA (Banks) | 153 | ||||||
1,239 | CCC SA (Textiles, Apparel & Luxury Goods) | 47 | ||||||
9,564 | Cyfrowy Polsat SA (Media) | 63 | ||||||
11,685 | Enea SA (Electric Utilities) | 50 | ||||||
5,866 | Energa SA (Electric Utilities) | 38 | ||||||
3,916 | Eurocash SA (Food & Staples Retailing) | 42 | ||||||
65,374 | Getin Nobel Bank SA (Banks) (a) | 40 | ||||||
2,212 | Grupa Azoty SA (Chemicals) | 39 | ||||||
3,961 | Grupa Lotos SA (Oil, Gas & Consumable Fuels) (a) | 29 | ||||||
6,736 | KGHM Polska Miedz SA (Metals & Mining) | 206 | ||||||
37 | LPP SA (Textiles, Apparel & Luxury Goods) | 75 | ||||||
776 | mBank SA (Banks) | 109 | ||||||
38,252 | PGE SA (Electric Utilities) | 203 |
Shares | Security Description | Value (000) | ||||||
Poland (continued) | ||||||||
15,509 | Polski Koncern Naftowy Orlen SA (Oil, Gas & Consumable Fuels) | $ | 212 | |||||
92,662 | Polskie Gornictwo Naftowe i Gazownictwo SA (Oil, Gas & Consumable Fuels) | 116 | ||||||
45,633 | Powszechna Kasa Oszczednosci Bank Polski SA (Banks) | 458 | ||||||
2,886 | Powszechny Zaklad Ubezpieczen SA (Insurance) | 394 | ||||||
29,075 | Synthos SA (Chemicals) | 34 | ||||||
57,327 | Tauron Polska Energia SA (Electric Utilities) | 81 | ||||||
34,745 | Telekomunikacja Polska SA (Diversified Telecommunication Services) | 81 | ||||||
2,936 | ||||||||
Portugal — 0.12% | ||||||||
852,283 | EDP – Energias de Portugal SA (Electric Utilities) | 3,304 | ||||||
Qatar — 0.06% | ||||||||
4,735 | Barwa Real Estate Co. (Real Estate Management & Development) | 54 | ||||||
1,592 | Doha Bank Qsc (Banks) | 25 | ||||||
1,111 | Gulf International Services QSC (Oil, Gas & Consumable Fuels) | 30 | ||||||
7,744 | Industries Qatar Q.S.C. (Industrial Conglomerates) | 353 | ||||||
19,085 | Masraf Al Rayan (Banks) | 229 | ||||||
3,897 | Ooredoo Qsc (Diversified Telecommunication Services) | 131 | ||||||
1,310 | Qatar Electricity & Water Co. (Multi-Utilities) | 66 | ||||||
3,454 | Qatar Islamic Bank (Banks) | 95 | ||||||
9,012 | Qatar National Bank (Banks) | 523 | ||||||
2,536 | The Commercial Bank of Qatar QSC (Banks) | 47 | ||||||
16,753 | Vodafone Qatar (Wireless Telecommunication Services) | 74 | ||||||
1,627 | ||||||||
Russia — 0.21% | ||||||||
86,500 | ALROSA AO (Metals & Mining) | 88 | ||||||
5,977,000 | Federal Hydrogenerating Co. (Electric Utilities) | 52 | ||||||
574,672 | Gazprom OAO (Oil, Gas & Consumable Fuels) | 1,236 | ||||||
11,221 | LUKOIL OAO, ADR (Oil, Gas & Consumable Fuels) | 430 | ||||||
24,794 | LUKOIL OAO (Oil, Gas & Consumable Fuels) | 899 | ||||||
12,525 | Magnit OJSC, Registered Shares, GDR (Food & Staples Retailing) | 566 | ||||||
4,602 | MegaFon OAO, GDR (Wireless Telecommunication Services) | 63 | ||||||
2,763 | Mining and Metallurgical Co. Norilsk Nickel OJSC (Metals & Mining) | 366 | ||||||
25,700 | Mobile TeleSystems OJSC, ADR (Wireless Telecommunication Services) | 184 |
See accompanying notes to financial statements.
108
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Russia (continued) | ||||||||
4,502 | NovaTek OAO, Registered Shares, GDR (Oil, Gas & Consumable Fuels) | $ | 351 | |||||
56,300 | Rosneft Oil (Oil, Gas & Consumable Fuels) | 180 | ||||||
40,080 | Rostelecom OJSC (Diversified Telecommunication Services) | 56 | ||||||
59,829 | Sberbank of Russia, ADR (Banks) | 232 | ||||||
515,590 | Sberbank of Russia (Banks) | 454 | ||||||
10,170 | Severstal (Metals & Mining) | 83 | ||||||
6,696 | Sistema JSFC – Registered, GDR (Wireless Telecommunication Services) | 35 | ||||||
344,600 | Surgutneftegas (Oil, Gas & Consumable Fuels) | 133 | ||||||
70,570 | Tatneft, Class – S (Oil, Gas & Consumable Fuels) | 265 | ||||||
65,820 | Uralkali OJSC (Chemicals) | 137 | ||||||
257,340,000 | VTB Bank OJSC (Banks) | 281 | ||||||
6,091 | ||||||||
Singapore — 1.51% | ||||||||
789,000 | Ascendas Real Estate Investment Trust (Real Estate Investment Trusts) | 1,416 | ||||||
786,909 | CapitaCommercial Trust (Real Estate Investment Trusts) | 1,039 | ||||||
936,000 | CapitaMall Trust (Real Estate Investment Trusts) | 1,438 | ||||||
1,166,000 | ComfortDelGro Corp. Ltd. (Road & Rail) | 2,282 | ||||||
104,521 | DBS Group Holdings Ltd. (Banks) | 1,619 | ||||||
3,407,907 | Hutchison Port Holdings Trust (Transportation Infrastructure) | 2,342 | ||||||
1,122,791 | Keppel Corp. Ltd. (Industrial Conglomerates) | 7,486 | ||||||
269,000 | Keppel Land Ltd. (Real Estate Management & Development) | 693 | ||||||
443,000 | M1 Ltd./Singapore (Wireless Telecommunication Services) | 1,205 | ||||||
277,897 | Olam International Ltd. (Food & Staples Retailing) | 422 | ||||||
347,000 | SembCorp Industries Ltd. (Industrial Conglomerates) | 1,162 | ||||||
1,161,000 | SembCorp Marine Ltd. (Machinery) ˆ | 2,849 | ||||||
155,399 | Singapore Exchange Ltd. (Diversified Financial Services) | 914 | ||||||
950,947 | Singapore Press Holdings Ltd. (Media) | 3,020 | ||||||
755,000 | Singapore Tech Engineering (Aerospace & Defense) | 1,933 | ||||||
3,452,110 | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | 10,135 | ||||||
233,000 | StarHub Ltd. (Wireless Telecommunication Services) | 728 | ||||||
915,180 | Suntec REIT (Real Estate Investment Trusts) | 1,354 | ||||||
1,414,011 | Yangzijiang Shipbuilding Holdings Ltd. (Machinery) | 1,282 | ||||||
43,319 |
Shares | Security Description | Value (000) | ||||||
South Africa — 0.54% | ||||||||
76,767 | African Bank Investments Ltd. (Diversified Financial Services) (a)(b) | $ | — | |||||
5,764 | African Rainbow Minerals Ltd. (Metals & Mining) | 59 | ||||||
2,458 | Anglo Platinum Ltd. (Metals & Mining) (a) | 72 | ||||||
19,886 | AngloGold Ashanti Ltd. (Metals & Mining) (a) | 174 | ||||||
16,639 | Aspen Pharmacare Holdings Ltd. (Pharmaceuticals) | 581 | ||||||
1,828 | Assore Ltd. (Metals & Mining) | 23 | ||||||
16,448 | Barclays Africa Group Ltd. (Banks) | 257 | ||||||
9,687 | Barloworld Ltd. (Trading Companies & Distributors) | 80 | ||||||
15,019 | Bidvest Group Ltd. (Industrial Conglomerates) | 393 | ||||||
10,023 | Coronation Fund Managers Ltd. (Capital Markets) | 99 | ||||||
15,712 | Discovery Ltd. (Insurance) | 151 | ||||||
6,121 | Exxaro Resources Ltd. (Oil, Gas & Consumable Fuels) | 55 | ||||||
152,025 | FirstRand Ltd. (Diversified Financial Services) | 661 | ||||||
40,720 | Gold Fields Ltd. (Metals & Mining) | 184 | ||||||
107,581 | Growthpoint Properties Ltd. (Real Estate Investment Trusts) | 256 | ||||||
26,246 | Impala Platinum Holdings Ltd. (Metals & Mining) (a) | 172 | ||||||
9,054 | Imperial Holdings Ltd. (Distributors) | 144 | ||||||
12,100 | Investec Ltd. (Capital Markets) | 102 | ||||||
3,081 | Kumba Iron Ore Ltd. (Metals & Mining) | 64 | ||||||
6,319 | Liberty Holdings Ltd. (Insurance) | 67 | ||||||
48,976 | Life Healthcare Group Holdings Ltd. (Health Care Providers & Services) | 181 | ||||||
4,562 | Massmart Holdings Ltd. (Food & Staples Retailing) | 56 | ||||||
19,941 | Mediclinic International Ltd. (Health Care Providers & Services) | 173 | ||||||
50,183 | MMI Holdings Ltd. (Insurance) | 130 | ||||||
22,395 | Mr. Price Group Ltd. (Specialty Retail) | 453 | ||||||
80,738 | MTN Group Ltd. (Wireless Telecommunication Services) | 1,538 | ||||||
26,423 | Nampak Ltd. (Containers & Packaging) | 99 | ||||||
22,084 | Naspers Ltd. (Media) | 2,860 | ||||||
9,852 | Nedbank Group Ltd. (Banks) | 211 | ||||||
43,525 | Netcare Ltd. (Health Care Providers & Services) | 142 | ||||||
10,672 | Pick n Pay Stores Ltd. (Food & Staples Retailing) | 48 | ||||||
23,176 | PPC Ltd. (Construction Materials) | 55 | ||||||
142,544 | Redefine Properties Ltd. (Real Estate Management & Development) | 132 | ||||||
23,613 | Remgro Ltd. (Diversified Financial Services) | 517 | ||||||
11,026 | Resilient Property Income Fund Ltd. (Real Estate Investment Trusts) | 80 |
See accompanying notes to financial statements.
109
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
South Africa (continued) | ||||||||
32,328 | RMB Holdings Ltd. (Diversified Financial Services) | $ | 179 | |||||
36,650 | RMI Holdings Ltd. (Insurance) | 130 | ||||||
7,680 | Samsung Heavy Industries Co. Ltd. (Machinery) | 139 | ||||||
88,061 | Sanlam Ltd. (Insurance) | 530 | ||||||
25,158 | Sappi Ltd. (Paper & Forest Products) (a) | 91 | ||||||
27,139 | Sasol Ltd. (Oil, Gas & Consumable Fuels) | 1,013 | ||||||
46,908 | Shoprite Holdings Ltd. (Food & Staples Retailing) | 680 | ||||||
59,327 | Standard Bank Group Ltd. (Banks) | 732 | ||||||
100,568 | Steinhoff International Holdings Ltd. (Household Durables) | 515 | ||||||
10,894 | Telkom SA SOC Ltd. (Diversified Telecommunication Services) (a) | 66 | ||||||
10,349 | The Foschini Group Ltd. (Specialty Retail) | 119 | ||||||
7,858 | The Spar Group Ltd. (Food & Staples Retailing) | 109 | ||||||
7,849 | Tiger Brands Ltd. (Food Products) | 249 | ||||||
18,810 | Truworths International Ltd. (Specialty Retail) | 125 | ||||||
8,980 | Tsogo Sun Holdings Ltd. (Hotels Restaurants & Leisure) | 23 | ||||||
17,719 | Vodacom Group Ltd. (Wireless Telecommunication Services) | 196 | ||||||
44,639 | Woolworths Holdings Ltd. (Multiline Retail) | 296 | ||||||
15,461 | ||||||||
South Korea — 1.48% | ||||||||
158 | Amorepacific Corp. (Personal Products) (a) | 319 | ||||||
146 | Amorepacific Group (Personal Products) | 132 | ||||||
10,068 | BS Financial Group, Inc. (Banks) | 133 | ||||||
3,416 | Celltrion, Inc. (Pharmaceuticals) ˆ(a) | 120 | ||||||
3,920 | Cheil Worldwide, Inc. (Media) (a) | 61 | ||||||
369 | CJ Cheiljedang Corp. (Food Products) | 103 | ||||||
653 | CJ Corp. (Industrial Conglomerates) (a) | 92 | ||||||
269 | CJ Korea Express Co. Ltd. (Road & Rail) (a) | 48 | ||||||
2,810 | Coway Co. Ltd. (Household Durables) | 214 | ||||||
1,105 | Daelim Industrial Co. Ltd. (Construction & Engineering) | 66 | ||||||
5,480 | Daewoo Engineering & Construction Co. Ltd. (Construction & Engineering) (a) | 29 | ||||||
2,410 | Daewoo International Corp. (Trading Companies & Distributors) (a) | 69 | ||||||
8,960 | Daewoo Securities Co. Ltd. (Capital Markets) (a) | 79 | ||||||
4,980 | Daewoo Shipbuilding & Marine Engineering Co. Ltd. (Machinery) | 84 | ||||||
1,171 | Daum Kakao Corp. (Internet Software & Services) | 131 | ||||||
6,490 | DGB Financial Group, Inc. (Banks) | 67 | ||||||
2,223 | Dongbu Insurance Co. Ltd. (Insurance) | 111 | ||||||
338 | Doosan Corp. (Industrial Conglomerates) | 32 |
Shares | Security Description | Value (000) | ||||||
South Korea (continued) | ||||||||
2,510 | Doosan Heavy Industries & Construction Co. Ltd. (Construction & Engineering) | $ | 54 | |||||
5,820 | Doosan Infracore Co. Ltd. (Machinery) (a) | 51 | ||||||
1,015 | E-Mart Co. Ltd. (Food & Staples Retailing) | 188 | ||||||
2,500 | GS Engineering & Construction Corp. (Construction & Engineering) (a) | 52 | ||||||
2,319 | GS Holdings Corp. (Oil, Gas & Consumable Fuels) | 84 | ||||||
1,960 | Halla Climate Control Corp. (Auto Components) (a) | 86 | ||||||
14,020 | Hana Financial Group, Inc. (Banks) | 406 | ||||||
3,548 | Hankook Tire Co. Ltd. (Auto Components) | 169 | ||||||
4,700 | Hanwha Chemical Corp. (Chemicals) | 50 | ||||||
2,510 | Hanwha Corp. (Chemicals) | 71 | ||||||
758 | Honam Petrochemical Corp. (Chemicals) | 109 | ||||||
1,286 | Hotel Shilla Co. Ltd. (Hotels, Restaurants & Leisure) | 107 | ||||||
27,810 | Hynix Semiconductor, Inc. (Semiconductors & Semiconductor Equipment) (a) | 1,189 | ||||||
1,093 | Hyosung Corp. (Chemicals) | 68 | ||||||
798 | Hyundai Department Store (Multiline Retail) | 89 | ||||||
2,980 | Hyundai Development Co. (Construction & Engineering) | 105 | ||||||
3,354 | Hyundai Engineering & Construction Co. Ltd. (Construction & Engineering) | 127 | ||||||
662 | Hyundai Glovis Co. Ltd. (Air Freight & Logistics) | 175 | ||||||
1,883 | Hyundai Heavy Industries Co. Ltd. (Machinery) | 196 | ||||||
3,340 | Hyundai Marine & Fire Insurance Co. Ltd. (Insurance) | 79 | ||||||
3,690 | Hyundai Merchant Marine Co. Ltd. (Marine) (a) | 34 | ||||||
565 | Hyundai Mipo Dockyard Co. (Machinery) | 35 | ||||||
9,480 | Hyundai Mobis Co. Ltd. (Automobiles) | 2,028 | ||||||
33,397 | Hyundai Motor Co. Ltd. (Automobiles) | 5,102 | ||||||
3,384 | Hyundai Steel Co. (Metals & Mining) | 194 | ||||||
818 | Hyundai Wia Corp. (Auto Components) | 131 | ||||||
13,300 | Industrial Bank of Korea (Banks) | 170 | ||||||
1,600 | Jinro Ltd. (Beverages) | 34 | ||||||
4,900 | Kangwon Land, Inc. (Hotels, Restaurants & Leisure) | 135 | ||||||
18,608 | KB Financial Group, Inc. (Banks) | 608 | ||||||
239 | KCC Corp. (Building Products) | 113 | ||||||
12,924 | Kia Motors Corp. (Automobiles) | 614 | ||||||
2,060 | Korea Aerospace Industries Ltd. (Aerospace & Defense) | 74 | ||||||
12,680 | Korea Electric Power Corp. (Electric Utilities) | 489 | ||||||
1,516 | Korea Gas Corp. (Gas Utilities) (a) | 68 | ||||||
1,710 | Korea Investment Holdings Co. Ltd. (Capital Markets) | 75 | ||||||
772 | Korea Kumho Petrochemical Co. Ltd. (Chemicals) | 56 |
See accompanying notes to financial statements.
110
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
South Korea (continued) | ||||||||
11,210 | Korea Life Insurance Co. Ltd. (Insurance) | $ | 85 | |||||
441 | Korea Zinc Co. Ltd. (Metals & Mining) | 161 | ||||||
1,580 | Korean Air Lines Co. Ltd. (Airlines) (a) | 68 | ||||||
2,930 | KT Corp. (Diversified Telecommunication Services) | 83 | ||||||
57,531 | KT&G Corp. (Tobacco) | 3,995 | ||||||
2,163 | LG Chem Ltd. (Chemicals) | 354 | ||||||
4,744 | LG Corp. (Industrial Conglomerates) | 263 | ||||||
11,440 | LG Display Co. Ltd. (Electronic Equipment, Instruments & Components) (a) | 347 | ||||||
5,219 | LG Electronics, Inc. (Household Durables) | 280 | ||||||
1,239 | LG Household & Health Care Ltd. (Household Products) | 702 | ||||||
632 | LG Innotek Co. Ltd. (Electronic Equipment, Instruments & Components) (a) | 64 | ||||||
9,660 | LG UPlus Corp. (Diversified Telecommunication Services) | 101 | ||||||
37 | Lotte Confectionery Co. Ltd. (Food Products) (a) | 60 | ||||||
575 | Lotte Shopping Co. Ltd. (Multiline Retail) | 142 | ||||||
732 | LS Corp. (Electrical Equipment) | 36 | ||||||
827 | LS Industrial Systems Co. Ltd. (Electrical Equipment) | 45 | ||||||
1,428 | Mirae Asset Securities Co. Ltd. (Capital Markets) | 56 | ||||||
2,111 | Naver Corp. (Internet Software & Services) | 1,352 | ||||||
810 | NCsoft Corp. (Software) | 133 | ||||||
769 | OCI Co. Ltd. (Chemicals) (a) | 54 | ||||||
183 | Orion Corp. (Food Products) | 169 | ||||||
2,434 | Paradise Co. Ltd. (Hotels, Restaurants & Leisure) | 52 | ||||||
3,140 | POSCO (Metals & Mining) | 791 | ||||||
880 | S1 Corp. (Commercial Services & Supplies) | 57 | ||||||
6,166 | Samsung C&T Corp. (Trading Companies & Distributors) | 345 | ||||||
1,530 | Samsung Card Co. Ltd. (Consumer Finance) | 62 | ||||||
2,826 | Samsung Electro-Mechanics Co. Ltd. (Electronic Equipment, Instruments & Components) | 140 | ||||||
6,661 | Samsung Electronics Co. Ltd. (Semiconductors & Semiconductor Equipment) | 8,008 | ||||||
1,316 | Samsung Engineering Co. Ltd. (Construction & Engineering) (a) | 45 | ||||||
1,654 | Samsung Fire & Marine Insurance Co. Ltd. (Insurance) | 425 | ||||||
2,849 | Samsung Life Insurance Co. Ltd. (Insurance) | 302 | ||||||
2,624 | Samsung SDI Co. Ltd. (Electronic Equipment, Instruments & Components) | 274 | ||||||
1,267 | Samsung SDS Co. Ltd. (IT Serices) (a) | 338 | ||||||
2,770 | Samsung Securities Co. Ltd. (Capital Markets) | 111 | ||||||
20,940 | Shinhan Financial Group Co. Ltd. (Banks) | 842 |
Shares | Security Description | Value (000) | ||||||
South Korea (continued) | ||||||||
378 | Shinsegae Co. Ltd. (Multiline Retail) | $ | 62 | |||||
1,027 | SK C&C Co. Ltd. (IT Services) | 199 | ||||||
1,257 | SK Holdings Co. Ltd. (Industrial Conglomerates) | 187 | ||||||
2,873 | SK Innovation Co. Ltd. (Oil, Gas & Consumable Fuels) | 222 | ||||||
4,620 | SK Networks Co. Ltd. (Trading Companies & Distributors) (a) | 37 | ||||||
23,873 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 5,840 | ||||||
2,395 | S-Oil Corp. (Oil, Gas & Consumable Fuels) | 105 | ||||||
14,550 | Woori Bank (Banks) (a) | 132 | ||||||
6,560 | Woori Investment & Securities Co. Ltd. (Capital Markets) | 61 | ||||||
403 | Yuhan Corp. (Pharmaceuticals) (a) | 62 | ||||||
42,554 | ||||||||
Spain — 2.56% | ||||||||
172,939 | Abertis Infraestructuras SA (Transportation Infrastructure) | 3,429 | ||||||
75,589 | ACS Actividades de Construccion y Servicios SA (Construction & Engineering) | 2,634 | ||||||
27,257 | Amadeus It Holding SA (IT Services) | 1,085 | ||||||
721,795 | Banco Bilbao Vizcaya SA (Banks) | 6,816 | ||||||
318,179 | Banco de Sabadell SA (Banks) | 842 | ||||||
2,054,940 | Banco Santander SA (Banks) | 17,244 | ||||||
156,300 | CaixaBank SA (Banks) | 819 | ||||||
8,717 | Cemex Latam Holdings SA (Construction Materials) (a) | 59 | ||||||
104,644 | Corporacion Mapfre (Insurance) | 354 | ||||||
21,707 | Enagas (Gas Utilities) | 685 | ||||||
278,040 | Ferrovial SA (Construction & Engineering) | 5,496 | ||||||
37,468 | Gas Natural SDG SA (Gas Utilities) | 941 | ||||||
28,506 | Grifols SA, ADR (Biotechnology) | 969 | ||||||
32,567 | Grifols SA (Biotechnology) | 1,299 | ||||||
8,500 | Grifols SA, Class – B (Biotechnology) | 287 | ||||||
545,068 | Iberdrola SA (Electric Utilities) | 3,674 | ||||||
11,196 | Red Electrica Corporacion SA (Electric Utilities) | 987 | ||||||
435,906 | Repsol YPF SA (Oil, Gas & Consumable Fuels) | 8,160 | ||||||
40,766 | Tecnicas Reunidas SA (Energy Equipment & Services) | 1,782 | ||||||
1,111,304 | Telefonica SA (Diversified Telecommunication Services) | 15,953 | ||||||
73,515 | ||||||||
Sweden — 2.67% | ||||||||
60,176 | Assa Abloy AB, Class – B (Building Products) | 3,180 | ||||||
3,350 | Autoliv, Inc. (Auto Components) | 358 | ||||||
68,473 | Electrolux AB, Series B (Household Durables) | 2,002 | ||||||
102,396 | Hennes & Mauritz AB, B Shares (Specialty Retail) | 4,257 | ||||||
19,022 | ICA Gruppen AB (Construction & Engineering) | 741 |
See accompanying notes to financial statements.
111
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Sweden (continued) | ||||||||
30,408 | Industrivarden AB, C Shares (Diversified Financial Services) | $ | 528 | |||||
3,748 | Modern Times Group, B Shares (Media) | 119 | ||||||
628,687 | Nordea Bank AB (Banks) | 7,283 | ||||||
882,729 | Sandvik AB (Machinery) | 8,589 | ||||||
491,218 | Skandinaviska Enskilda Banken AB, Class – A (Banks) | 6,242 | ||||||
247,662 | Skanska AB, B Shares (Construction & Engineering) | 5,321 | ||||||
327,805 | SKF AB, B Shares (Machinery) | 6,910 | ||||||
57,119 | Svenska Handelsbanken AB, A Shares (Banks) | 2,674 | ||||||
270,125 | Swedbank AB, A Shares (Banks) | 6,706 | ||||||
132,117 | Tele2 AB, B Shares (Wireless Telecommunication Services) | 1,602 | ||||||
985,855 | TeliaSonera AB (Diversified Telecommunication Services) | 6,343 | ||||||
1,269,707 | Volvo AB, B Shares (Machinery) | 13,700 | ||||||
76,555 | ||||||||
Switzerland — 9.19% | ||||||||
1,653,938 | ABB Ltd. – Registered (Electrical Equipment) | 35,005 | ||||||
26,373 | Actelion Ltd. – Registered (Biotechnology) | 3,037 | ||||||
164,816 | Adecco SA, Registered Shares (Human Resource & Employment Services) | 11,333 | ||||||
11,496 | Baloise Holding AG, Registered Shares (Insurance) | 1,470 | ||||||
130,127 | Clariant AG (Chemicals) | 2,181 | ||||||
29,105 | Compagnie Financiere Richemont SA – Registered (Textiles, Apparel & Luxury Goods) | 2,581 | ||||||
85,311 | Credit Suisse Group AG – Registered (Capital Markets) | 2,144 | ||||||
13,075 | DKSH Holding Ltd. (Professional Services) | 996 | ||||||
7,673 | Givaudan SA – Registered (Chemicals) | 13,768 | ||||||
34,441 | Holcim Ltd. – Registered (Construction Materials) | 2,463 | ||||||
26,013 | Julius Baer Group Ltd. (Capital Markets) | 1,188 | ||||||
35,568 | Kuehne & Nagel International (Marine) | 4,833 | ||||||
772,781 | Nestle SA (Food Products) | 56,354 | ||||||
184,868 | Novartis AG – Registered (Pharmaceuticals) | 17,150 | ||||||
7,472 | Pargesa Holding SA (Diversified Financial Services) | 577 | ||||||
9,976 | Partners Group Holding AG (Capital Markets) | 2,903 | ||||||
103,097 | Roche Holding AG – Genusscheine (Pharmaceuticals) | 27,942 | ||||||
3,968 | SGS SA – Registered (Professional Services) | 8,105 | ||||||
4,417 | Swiss Life Holding (Insurance) | 1,044 | ||||||
27,072 | Swiss Prime Site AG – Registered (Real Estate Management & Development) | 1,988 | ||||||
85,184 | Swiss Re AG (Insurance) | 7,138 | ||||||
14,134 | Swisscom AG – Registered (Diversified Telecommunication Services) | 7,419 |
Shares | Security Description | Value (000) | ||||||
Switzerland (continued) | ||||||||
77,366 | Syngenta AG, Registered Shares (Chemicals) | $ | 24,893 | |||||
2,503 | The Swatch Group AG (Textiles, Apparel & Luxury Goods) | 1,112 | ||||||
3,580 | The Swatch Group AG – Registered (Textiles, Apparel & Luxury Goods) | 310 | ||||||
32,258 | UBS AG – Registered (Capital Markets) ˆ | 532 | ||||||
414,880 | UBS Group AG (Capital Markets) (a) | 7,134 | ||||||
56,114 | Zurich Financial Services AG (Insurance) | 17,541 | ||||||
263,141 | ||||||||
Taiwan — 0.83% | ||||||||
134,000 | Acer, Inc. (Technology Hardware, Storage & Peripherals) (a) | 90 | ||||||
303,000 | Advanced Semiconductor Engineering, Inc. (Semiconductors & Semiconductor Equipment) | 360 | ||||||
16,491 | Advantech Co. Ltd. (Technology Hardware, Storage & Peripherals) | 121 | ||||||
100,980 | Asia Cement Corp. (Construction Materials) | 124 | ||||||
90,000 | Asia Pacific Telecom Co. Ltd. (Diversified Telecommunication Services) | 50 | ||||||
34,000 | Asustek Computer, Inc. (Technology Hardware, Storage & Peripherals) | 371 | ||||||
412,000 | AU Optronics Corp. (Electronic Equipment, Instruments & Components) | 209 | ||||||
32,000 | Catcher Technology Co. Ltd. (Technology Hardware, Storage & Peripherals) | 247 | ||||||
389,100 | Cathay Financial Holding Co. Ltd. (Insurance) | 576 | ||||||
244,780 | Chang Hwa Commercial Bank Ltd. (Banks) | 140 | ||||||
82,000 | Cheng Shin Rubber Industry Co. Ltd. (Auto Components) | 192 | ||||||
27,135 | Chicony Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | 76 | ||||||
88,000 | China Airlines Ltd. (Airlines) (a) | 40 | ||||||
660,000 | China Development Financial Holding Corp. (Banks) | 210 | ||||||
140,600 | China Life Insurance Co. Ltd. (Insurance) | 116 | ||||||
35,000 | China Motor Corp. (Automobiles) | 31 | ||||||
583,440 | China Steel Corp. (Metals & Mining) | 484 | ||||||
662,640 | Chinatrust Financial Holding Co. Ltd. (Banks) | 428 | ||||||
185,000 | Chunghwa Telecom Co. Ltd. (Diversified Telecommunication Services) | 548 | ||||||
20,000 | Clevo Co. (Technology Hardware, Storage & Peripherals) | 31 | ||||||
218,000 | Compal Electronics, Inc. (Technology Hardware, Storage & Peripherals) | 152 | ||||||
32,000 | CTCI Corp. (Construction & Engineering) | 51 | ||||||
91,000 | Delta Electronics, Inc. (Electronic Equipment, Instruments & Components) | 538 | ||||||
312,544 | E.Sun Financial Holding Co. Ltd. (Banks) | 194 | ||||||
8,320 | Eclat Textile Co. Ltd. (Textiles, Apparel & Luxury Goods) | 84 |
See accompanying notes to financial statements.
112
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Taiwan (continued) | ||||||||
44,000 | Epistar Corp. (Semiconductors & Semiconductor Equipment) | $ | 87 | |||||
61,000 | EVA Airways Corp. (Airlines) (a) | 43 | ||||||
68,000 | Evergreen Marine Corp. Ltd. (Marine) (a) | 48 | ||||||
67,320 | Far Eastern Department Stores Ltd. (Multiline Retail) | 60 | ||||||
136,680 | Far Eastern New Century Corp. (Industrial Conglomerates) | 135 | ||||||
81,000 | Far EasTone Telecommunications Co. Ltd. (Wireless Telecommunication Services) | 187 | ||||||
19,000 | Farglory Land Development Co. Ltd. (Real Estate Management & Development) | 23 | ||||||
381,920 | First Financial Holdings Co. Ltd. (Banks) | 224 | ||||||
156,000 | Formosa Chemicals & Fibre Corp. (Chemicals) | 329 | ||||||
2,200 | Formosa International Hotels Corp. (Hotels, Restaurants & Leisure) | 23 | ||||||
58,000 | Formosa Petrochemical Corp. (Oil, Gas & Consumable Fuels) | 126 | ||||||
195,000 | Formosa Plastics Corp. (Chemicals) | 444 | ||||||
41,000 | Formosa Taffeta Co. Ltd. (Textiles, Apparel & Luxury Goods) | 40 | ||||||
45,150 | Foxconn Technology Co. Ltd. (Technology Hardware, Storage & Peripherals) | 121 | ||||||
319,000 | Fubon Financial Holding Co. Ltd. (Diversified Financial Services) | 508 | ||||||
14,000 | Giant Manufacturing Co. Ltd. (Leisure Products) | 124 | ||||||
2,000 | Hermes Microvision, Inc. (Semiconductors & Semiconductor Equipment) | 100 | ||||||
24,000 | Highwealth Construction Corp. (Real Estate Management & Development) | 48 | ||||||
9,270 | Hiwin Technologies Corp. (Machinery) | 77 | ||||||
613,760 | Hon Hai Precision Industry Co. Ltd. (Electronic Equipment, Instruments & Components) | 1,695 | ||||||
13,000 | Hotai Motor Co. Ltd. (Specialty Retail) | 195 | ||||||
31,000 | HTC Corp. (Technology Hardware, Storage & Peripherals) (a) | 138 | ||||||
316,220 | Hua Nan Financial Holdings Co. Ltd., Class – C (Banks) | 177 | ||||||
362,500 | Innolux Corp. (Electronic Equipment, Instruments & Components) | 175 | ||||||
113,000 | Inotera Memories, Inc. (Semiconductors & Semiconductor Equipment) (a) | 177 | ||||||
120,000 | Inventec Corp. (Technology Hardware, Storage & Peripherals) | 80 | ||||||
15,000 | Kinsus Interconnect Technology Corp. (Semiconductors & Semiconductor Equipment) | 50 | ||||||
5,000 | Largan Precision Co. Ltd. (Electronic Equipment, Instruments & Components) | 374 | ||||||
98,490 | Lite-On Technology Corp. (Technology Hardware, Storage & Peripherals) | 113 |
Shares | Security Description | Value (000) | ||||||
Taiwan (continued) | ||||||||
70,000 | MediaTek, Inc. (Semiconductors & Semiconductor Equipment) | $ | 1,018 | |||||
491,000 | Mega Financial Holding Co. Ltd. (Banks) | 378 | ||||||
10,500 | Merida Industry Co. Ltd. (Leisure Products) | 71 | ||||||
227,000 | Nan Ya Plastics Corp. (Chemicals) | 468 | ||||||
28,000 | Novatek Microelectronics Corp. (Semiconductors & Semiconductor Equipment) | 156 | ||||||
76,000 | Pegatron Corp. (Technology Hardware, Storage & Peripherals) | 174 | ||||||
7,000 | Phison Electronics Corp. (Semiconductors & Semiconductor Equipment) | 48 | ||||||
106,000 | Pou Chen Corp. (Textiles, Apparel & Luxury Goods) | 128 | ||||||
28,000 | Powertech Technology, Inc. (Semiconductors & Semiconductor Equipment) | 48 | ||||||
29,000 | President Chain Store Corp. (Food & Staples Retailing) | 224 | ||||||
216,960 | President Enterprises Corp. (Food Products) | 343 | ||||||
41,000 | Quanta Computer, Inc., GDR (Technology Hardware, Storage & Peripherals) (e) | 514 | ||||||
128,000 | Quanta Computer, Inc. (Technology Hardware, Storage & Peripherals) | 319 | ||||||
19,000 | Radiant Opto-Electronics Corp. (Semiconductors & Semiconductor Equipment) | 60 | ||||||
24,000 | Realtek Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | 80 | ||||||
33,000 | Ruentex Development Co. Ltd. (Real Estate Management & Development) | 52 | ||||||
27,000 | Ruentex Industries Ltd. (Textiles, Apparel & Luxury Goods) | 57 | ||||||
10,400 | ScinoPharm Taiwan Ltd. (Pharmaceuticals) | 18 | ||||||
372,144 | Shin Kong Financial Holding Co. Ltd. (Insurance) | 105 | ||||||
141,000 | Siliconware Precision Industries Co. (Semiconductors & Semiconductor Equipment) | 212 | ||||||
15,000 | Simplo Technology Co. Ltd. (Electronic Equipment, Instruments & Components) | 74 | ||||||
333,218 | SinoPac Financial Holdings Co. Ltd. (Banks) | 137 | ||||||
17,440 | Standard Foods Corp. (Food Products) | 39 | ||||||
67,000 | Synnex Technology International Corp. (Electronic Equipment, Instruments & Components) | 97 | ||||||
386,965 | Taishin Financial Holding Co. Ltd. (Banks) | 159 | ||||||
235,760 | Taiwan Business Bank (Banks) (a) | 68 | ||||||
160,000 | Taiwan Cement Corp. (Construction Materials) | 219 | ||||||
299,200 | Taiwan Cooperative Financial Holding Co. Ltd. (Banks) | 154 | ||||||
31,000 | Taiwan Fertilizer Co. Ltd. (Chemicals) | 55 | ||||||
48,000 | Taiwan Glass Industry Corp. (Building Products) | 37 |
See accompanying notes to financial statements.
113
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Taiwan (continued) | ||||||||
79,000 | Taiwan Mobile Co. Ltd. (Wireless Telecommunication Services) | $ | 261 | |||||
12,000 | Taiwan Semiconductor Manufacturing Co. Ltd., ADR (Semiconductors & Semiconductor Equipment) | 269 | ||||||
1,191,000 | Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment) | 5,247 | ||||||
96,000 | Teco Electric & Machinery Co. Ltd. (Electrical Equipment) | 91 | ||||||
12,000 | Tpk Holding Co. Ltd. (Electronic Equipment, Instruments & Components) | 71 | ||||||
10,000 | Transcend Information, Inc. (Semiconductors & Semiconductor Equipment) | 31 | ||||||
23,100 | TSRC Corp. (Chemicals) | 25 | ||||||
18,000 | U-Ming Marine Transport Corp. (Marine) | 28 | ||||||
55,000 | Unimicron Technology Corp. (Electronic Equipment, Instruments & Components) | 42 | ||||||
579,000 | United Microelectronics Corp. (Semiconductors & Semiconductor Equipment) | 269 | ||||||
38,000 | Vanguard International Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | 62 | ||||||
130,000 | Walsin Lihwa Corp. (Electrical Equipment) (a) | 41 | ||||||
123,423 | Wistron Corp. (Technology Hardware, Storage & Peripherals) | 111 | ||||||
76,000 | WPG Holdings Ltd. (Electronic Equipment, Instruments & Components) | 88 | ||||||
53,000 | Yang Ming Marine Transport (Marine) (a) | 28 | ||||||
392,525 | Yuanta Financial Holding Co. Ltd. (Capital Markets) | 190 | ||||||
42,000 | Yulon Motor Co. Ltd. (Automobiles) | 61 | ||||||
23,811 | ||||||||
Thailand — 0.16% | ||||||||
51,200 | Advanced INFO Service Public Co. Ltd. (Wireless Telecommunication Services) | 388 | ||||||
22,300 | Airports of Thailand Public Co. Ltd., Foreign Registered Shares (Transportation Infrastructure) | 190 | ||||||
27,300 | Bangkok Bank Public Co. Ltd. – NVDR (Banks) | 160 | ||||||
163,000 | Bangkok Dusit Medical Service Public Co. Ltd., Class – F (Health Care Providers & Services) | 85 | ||||||
43,700 | Banpu Public Co. Ltd., Foreign Registered Shares (Oil, Gas & Consumable Fuels) | 33 | ||||||
44,200 | BEC World Public Co. Ltd., Foreign Registered Shares (Media) | 68 | ||||||
309,900 | BTS Group Holdings Public Co. Ltd. (Road & Rail) | 90 | ||||||
13,300 | Bumrungrad Hospital Public Co. Ltd. (Health Care Providers & Services) | 57 |
Shares | Security Description | Value (000) | ||||||
Thailand (continued) | ||||||||
71,200 | Central Pattana Public Co. Ltd., Foreign Registered Shares (Real Estate Management & Development) | $ | 98 | |||||
118,400 | Charoen Pokphand Foods Public Co. Ltd. (Food Products) | 97 | ||||||
217,400 | CP ALL Public Co. Ltd. (Food & Staples Retailing) | 280 | ||||||
18,500 | Delta Electronics (Thailand) Public Co. Ltd. (Electronic Equipment, Instruments & Components) | 40 | ||||||
47,500 | Energy Absolute Public Co. Ltd. – NVDR (Oil, Gas & Consumable Fuels) | 36 | ||||||
30,200 | Glow Energy Public Co. Ltd. (Independent Power and Renewable Electricity Producers) | 81 | ||||||
151,414 | Home Product Center Public Co. Ltd., Foreign Registered Shares (Specialty Retail) | 38 | ||||||
58,000 | Indorama Ventures Public Co. Ltd. (Chemicals) | 35 | ||||||
615,300 | IRPC Public Co. Ltd. – NVDR (Oil, Gas & Consumable Fuels) | 57 | ||||||
90,300 | Kasikornbank Public Co. Ltd. (Banks) | 625 | ||||||
190,800 | Krung Thai Bank Public Co. Ltd., Foreign Registered Shares (Banks) | 131 | ||||||
69,600 | Minor International Public Co. Ltd., Foreign Registered Shares (Hotels, Restaurants & Leisure) | 68 | ||||||
68,600 | PTT Exploration & Production Public Co. Ltd. – NVDR (Oil, Gas & Consumable Fuels) | 232 | ||||||
79,200 | PTT Global Chemical Public Co. Ltd. (Chemicals) | 123 | ||||||
70,300 | PTT Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 690 | ||||||
76,600 | Siam Commercial Bank Public Co. Ltd. (Banks) | 422 | ||||||
46,700 | Thai Oil Public Co. Ltd. – NVDR (Oil, Gas & Consumable Fuels) | 59 | ||||||
18,900 | Thai Union Frozen Products Public Co. Ltd. - NVDR (Food Products) | 52 | ||||||
18,300 | The Siam Cement Public Co. Ltd. – NVDR (Construction Materials) | 248 | ||||||
764,400 | TMB Bank Public Co. Ltd. – Foreign Registered Shares (Banks) | 68 | ||||||
392,510 | True Corp. Public Co. Ltd. – Foreign Registered Shares (Diversified Telecommunication Services) (a) | 131 | ||||||
4,682 | ||||||||
Turkey — 0.12% | ||||||||
88,871 | Akbank TAS (Banks) | 329 | ||||||
10,714 | Anadolu EFES Biracilik VE Malt Sanayii A/S (Beverages) (a) | 104 | ||||||
12,316 | Arcelik A/S (Household Durables) | 79 | ||||||
10,187 | Bim Birlesik Magazalar A/S (Food & Staples Retailing) | 218 | ||||||
3,350 | Coca-Cola Icecek A/S (Beverages) | 73 |
See accompanying notes to financial statements.
114
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Turkey (continued) | ||||||||
90,465 | Emlak Konut Gayrimenkul Yatirim (Real Estate Investment Trusts) | $ | 107 | |||||
21,338 | Enka Insaat ve Sanayi A/S (Industrial Conglomerates) | 48 | ||||||
73,718 | Eregli Demir ve Celik Fabrikalari TAS (Metals & Mining) | 140 | ||||||
3,776 | Ford Otomotiv Sanayi A/S (Automobiles) | 52 | ||||||
42,541 | Haci OMER Sabanci Holding (Diversified Financial Services) | 185 | ||||||
32,650 | KOC Holdings A/S (Industrial Conglomerates) | 174 | ||||||
11,340 | Petkim Petrokimya Holding AS (Chemicals) | 19 | ||||||
8,803 | TAV Havalimanlari Holding A/S (Transportation Infrastructure) | 72 | ||||||
6,835 | Tofas Turk Otomobil Fabrikasi A/S (Automobiles) | 47 | ||||||
5,823 | Tupras-Turkiye Petrol Rafinerileri A/S (Oil, Gas & Consumable Fuels) | 138 | ||||||
28,677 | Turk Hava Yollari Anonim Ortakligi (Airlines) (a) | 118 | ||||||
23,244 | Turk Telekomunikasyon A/S (Diversified Telecommunication Services) | 72 | ||||||
42,451 | Turkcell Iletisim Hizmetleri A/S (Wireless Telecommunication Services) (a) | 259 | ||||||
112,319 | Turkiye Garanti Bankasi A/S (Banks) | 452 | ||||||
30,116 | Turkiye Halk Bankasi A/S (Banks) | 179 | ||||||
75,852 | Turkiye Is Bankasi A/S, C Shares (Banks) | 218 | ||||||
28,042 | Turkiye Sise ve Cam Fabrikalari A/S (Industrial Conglomerates) | 44 | ||||||
40,653 | Turkiye Vakiflar Bankasi TAO, Class – D (Banks) | 85 | ||||||
7,460 | Ulker Biskuvi Sanayi A/S (Food Products) | 59 | ||||||
39,061 | Yapi ve Kredi Bankasi AS (Banks) | 81 | ||||||
3,352 | ||||||||
United Arab Emirates — 0.04% | ||||||||
97,877 | Arabtec Holding Co. (Construction & Engineering) | 76 | ||||||
14,902 | Dp World Ltd. (Transportation Infrastructure) | 311 | ||||||
289,594 | Dubai Financial Market (Diversified Financial Services) | 153 | ||||||
94,227 | Dubai Islamic Bank (Banks) | 173 | ||||||
213,798 | Emaar Properties PJSC (Real Estate Management & Development) | 412 | ||||||
1,125 | ||||||||
United Kingdom — 18.83% | ||||||||
380,900 | AA PLC (Commercial Services & Supplies) (a) | 2,078 | ||||||
241,075 | Aberdeen Asset Management PLC (Capital Markets) | 1,611 | ||||||
51,062 | Admiral Group PLC (Insurance) | 1,047 | ||||||
162,152 | AMEC PLC (Energy Equipment & Services) | 2,142 | ||||||
786,017 | Anglo American PLC (Metals & Mining) | 14,543 | ||||||
175,119 | Antofagasta PLC (Metals & Mining) | 2,040 |
Shares | Security Description | Value (000) | ||||||
United Kingdom (continued) | ||||||||
53,300 | ARM Holdings PLC (Semiconductors & Semiconductor Equipment) | $ | 818 | |||||
5,200 | Associated British Foods PLC (Food Products) | 254 | ||||||
514,980 | AstraZeneca PLC (Pharmaceuticals) | 36,369 | ||||||
592,180 | Aviva PLC (Insurance) | 4,449 | ||||||
74,490 | Babcock Int’l Group PLC (Commercial Services & Supplies) | 1,220 | ||||||
1,433,445 | BAE Systems PLC (Aerospace & Defense) | 10,482 | ||||||
397,307 | Balfour Beatty PLC (Construction & Engineering) | 1,313 | ||||||
1,214,734 | Barclays PLC (Banks) | 4,566 | ||||||
101,120 | Bellway PLC (Household Durables) | 3,032 | ||||||
253,654 | BG Group PLC (Oil, Gas & Consumable Fuels) | 3,394 | ||||||
893,416 | BHP Billiton PLC (Metals & Mining) | 19,145 | ||||||
3,716,036 | BP PLC (Oil, Gas & Consumable Fuels) | 23,584 | ||||||
627,066 | British American Tobacco PLC (Tobacco) | 33,978 | ||||||
201,221 | British Land Co. PLC (Real Estate Investment Trusts) | 2,427 | ||||||
285,574 | British Sky Broadcasting Group PLC (Media) | 3,985 | ||||||
994,941 | BT Group PLC (Diversified Telecommunication Services) | 6,188 | ||||||
185,740 | Capital Shopping Centres Group PLC (Real Estate Investment Trusts) | 960 | ||||||
81,910 | Carnival PLC (Hotels, Restaurants & Leisure) | 3,701 | ||||||
1,688,336 | Centrica PLC (Multi-Utilities) | 7,312 | ||||||
79,311 | Croda International PLC (Chemicals) | 3,273 | ||||||
48,600 | CSR PLC (Semiconductors & Semiconductor Equipment) | 645 | ||||||
6,617 | Diageo PLC (Beverages) | 190 | ||||||
156,879 | Direct Line Insurance Group (Insurance) | 710 | ||||||
16,000 | Ensco PLC, ADR (Energy Equipment & Services) | 479 | ||||||
34,800 | Fidessa Group PLC (Software) | 1,296 | ||||||
1,304,222 | GlaxoSmithKline PLC (Pharmaceuticals) | 27,977 | ||||||
159,930 | Grainger PLC (Real Estate Management & Development) | 466 | ||||||
27,868 | Greene King PLC (Hotels, Restaurants & Leisure) | 322 | ||||||
335,091 | Home Retail Group PLC (Internet & Catalog Retail) | 1,080 | ||||||
297,653 | Howden Joinery Group PLC (Specialty Retail) | 1,857 | ||||||
2,866,772 | HSBC Holdings PLC (Banks) | 27,087 | ||||||
510,596 | HSBC Holdings PLC (HK) (Banks) | 4,856 | ||||||
90,709 | ICAP PLC (Capital Markets) | 635 | ||||||
29,567 | IMI PLC (Machinery) | 578 | ||||||
481,083 | Imperial Tobacco Group PLC (Tobacco) | 21,174 | ||||||
19,369 | Indivior PLC (Pharmaceuticals) (a) | 45 | ||||||
100,684 | Inmarsat PLC (Diversified Telecommunication Services) | 1,248 |
See accompanying notes to financial statements.
115
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United Kingdom (continued) | ||||||||
57,459 | InterContinental Hotels Group PLC (Hotels, Restaurants & Leisure) | $ | 2,312 | |||||
601,775 | International Consolidated Airlines Group SA (Airlines) (a) | 4,530 | ||||||
1,017,838 | J Sainsbury PLC (Food & Staples Retailing) ˆ | 3,886 | ||||||
45,964 | John Wood Group PLC (Energy Equipment & Services) | 425 | ||||||
95,591 | Johnson Matthey PLC (Chemicals) | 5,029 | ||||||
438,367 | Kingfisher PLC (Specialty Retail) | 2,317 | ||||||
647,803 | Legal & General Group PLC (Insurance) | 2,501 | ||||||
119,632 | Liberty Global PLC, Class – A (Media) (a) | 6,006 | ||||||
145,654 | Liberty Global PLC, Series C (Media) (a) | 7,036 | ||||||
7,194,872 | Lloyds Banking Group PLC (Banks) (a) | 8,462 | ||||||
782,282 | Marks & Spencer Group PLC (Multiline Retail) | 5,792 | ||||||
144,538 | Meggitt PLC (Aerospace & Defense) | 1,163 | ||||||
191,465 | Merlin Entertainments PLC (Hotels, Restaurants & Leisure) | 1,185 | ||||||
402,286 | Michael Page International PLC (Professional Services) | 2,565 | ||||||
40,010 | Micro Focus International PLC (Software) | 673 | ||||||
442,351 | National Grid PLC (Multi-Utilities) | 6,276 | ||||||
10,725 | Next PLC (Multiline Retail) | 1,137 | ||||||
448,044 | Ocado Group PLC (Internet & Catalog Retail) (a) | 2,773 | ||||||
512,852 | Old Mutual PLC (Insurance) | 1,511 | ||||||
122,702 | Ophir Energy PLC (Oil, Gas & Consumable Fuels) (a) | 270 | ||||||
342,829 | Pearson PLC (Media) | 6,331 | ||||||
132,788 | Persimmon PLC (Household Durables) | 3,243 | ||||||
78,425 | Provident Financial PLC (Consumer Finance) | 2,993 | ||||||
355,019 | Prudential PLC (Insurance) | 8,207 | ||||||
19,369 | RecKitt Benckiser Group PLC (Household Products) | 1,569 | ||||||
592,216 | Rentokil Initial PLC (Commercial Services & Supplies) | 1,115 | ||||||
158,306 | Resolution Ltd. (Insurance) | 899 | ||||||
547,090 | Rexam PLC (Containers & Packaging) | 3,851 | ||||||
788,159 | Rio Tinto PLC (Metals & Mining) | 36,327 | ||||||
230,289 | Rolls-Royce Holdings PLC (Aerospace & Defense) | 3,093 | ||||||
681,683 | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | 22,746 | ||||||
628,067 | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | 21,698 | ||||||
228,029 | RSA Insurance Group PLC (Insurance) (a) | 1,539 | ||||||
91,219 | SABMiller PLC (Beverages) | 4,754 | ||||||
50,588 | Saga PLC (Insurance) ˆ(a) | 121 | ||||||
160,493 | SEGRO PLC (Real Estate Investment Trusts) | 919 | ||||||
25,648 | Severn Trent PLC (Water Utilities) | 800 | ||||||
107,077 | SSE PLC (Electric Utilities) | 2,705 | ||||||
258,086 | Standard Chartered PLC (Banks) | 3,859 | ||||||
258,328 | Standard Life PLC (Insurance) | 1,600 |
Shares | Security Description | Value (000) | ||||||
United Kingdom (continued) | ||||||||
194,930 | Tate & Lyle PLC (Food Products) | $ | 1,826 | |||||
3,615,571 | Tesco PLC (Food & Staples Retailing) | 10,541 | ||||||
458,171 | The Sage Group PLC (Software) | 3,309 | ||||||
932,844 | Thomas Cook Group PLC (Hotels, Restaurants & Leisure) (a) | 1,846 | ||||||
104,148 | Tullow Oil PLC (Oil, Gas & Consumable Fuels) | 671 | ||||||
170,189 | Ubm PLC (Media) | 1,272 | ||||||
78,658 | Unilever PLC (Food Products) | 3,196 | ||||||
78,174 | United Utilities Group PLC (Water Utilities) | 1,110 | ||||||
8,844,734 | Vodafone Group PLC (Wireless Telecommunication Services) | 30,322 | ||||||
30,168 | WH Smith PLC (Specialty Retail) | 631 | ||||||
596,306 | William Hill PLC (Hotels Restaurants & Leisure) | 3,350 | ||||||
988,313 | William Morrison Supermarkets PLC (Food & Staples Retailing) | 2,820 | ||||||
539,668 | ||||||||
United States — 0.11% | ||||||||
57,589 | Cognizant Technology Solutions Corp. (IT Services) (a) | 3,032 | ||||||
8,500 | Southern Copper Corp. (Metals & Mining) | 240 | ||||||
3,272 | ||||||||
Total Common Stocks | 2,788,141 | |||||||
Preferred Stocks — 0.55% | ||||||||
Brazil — 0.16% | ||||||||
5,300 | AES Tiete SA – Preferred (Independent Power and Renewable Electricity Producers) | 36 | ||||||
103,600 | Banco Bradesco SA – Preferred (Banks) | 1,366 | ||||||
10,100 | Banco do Estado do Rio Grande do Sul SA – Preferred, B Shares (Banks) | 55 | ||||||
11,800 | Bradespar SA – Preferred (Metals & Mining) | 64 | ||||||
8,800 | Braskem SA – Preferred, Class – A (Chemicals) | 58 | ||||||
11,900 | Centrais Eletricas Brasileiras SA – Preferred, B Shares (Electric Utilities) | 37 | ||||||
36,900 | Companhia Energetica de Minas Gerais SA – Preferred, ADR (Electric Utilities) | 182 | ||||||
8,700 | Companhia Energetica de Sao Paulo – Preferred, B Shares (Independent Power and Renewable Electricity Producers) | 88 | ||||||
5,100 | Companhia Paranaense de Energia-COPEL – Preferred, B Shares (Electric Utilities) | 69 | ||||||
41,600 | Gerdau SA – Preferred (Metals & Mining) | 150 | ||||||
157,210 | Itausa – Investimentos Itau SA – Preferred (Banks) | 556 | ||||||
23,825 | Lojas Americanas SA – Preferred (Multiline Retail) | 155 | ||||||
12,200 | Metalurgica Gerdau SA – Preferred (Metals & Mining) | 52 |
See accompanying notes to financial statements.
116
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Preferred Stocks (continued) | ||||||||
Brazil (continued) | ||||||||
13,640 | Oi SA – Preferred (Diversified Telecommunication Services) (a) | $ | 44 | |||||
201,500 | Petroleo Brasileiro SA – Preferred (Oil, Gas & Consumable Fuels) | 760 | ||||||
15,700 | Suzano Papel e Celulose SA – Preferred, Class – A (Paper & Forest Products) | 66 | ||||||
14,500 | Telefonica Brasil SA – Preferred (Diversified Telecommunication Services) | 256 | ||||||
20,000 | Usinas Siderurgicas de Minas Gerais SA – Preferred, Class – A (Metals & Mining) (a) | 38 | ||||||
91,500 | Vale SA – Preferred (Metals & Mining) | 662 | ||||||
4,694 | ||||||||
Chile — 0.01% | ||||||||
13,354 | Embotelladora Andina SA – Preferred, B Shares (Beverages) | 38 | ||||||
4,452 | Sociedad Quimica y Minera de Chile SA – Preferred, B Shares (Chemicals) | 108 | ||||||
146 | ||||||||
Colombia — 0.02% | ||||||||
21,339 | Bancolombia SA – Preferred (Banks) | 258 | ||||||
6,064 | Grupo Argos SA – Preferred (Construction Materials) | 51 | ||||||
161,668 | Grupo Aval Acciones y Valores SA – Preferred (Banks) | 87 | ||||||
4,778 | Grupo de Inversiones Suramericana – Preferred (Diversified Financial Services) | 79 | ||||||
475 | ||||||||
Germany — 0.30% | ||||||||
18,968 | Bayerische Motoren Werke AG – Preferred (Automobiles) | 1,549 | ||||||
27,814 | Henkel AG & Co. KGaA – Preferred (Household Products) | 2,996 | ||||||
53,511 | Porsche Automobil Holding SE – Preferred (Automobile Manufacturers) | 4,327 | ||||||
8,872 | ||||||||
Russia — 0.01% | ||||||||
75 | AK Transneft OAO – Preferred (Oil, Gas & Consumable Fuels) | 155 | ||||||
53,900 | Sberbank of Russia – Preferred (Banks) | 33 | ||||||
335,200 | Surgutneftegas – Preferred (Oil, Gas & Consumable Fuels) | 159 | ||||||
347 | ||||||||
South Korea — 0.05% | ||||||||
1,944 | Hyundai Motor Co. Ltd. – Preferred (Automobiles) (a) | 236 | ||||||
1,224 | Hyundai Motor Co. Ltd. – Preferred (Automobiles) (a) | 140 | ||||||
386 | LG Chem Ltd. – Preferred (Chemicals) | 49 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
South Korea (continued) | ||||||||
978 | Samsung Electronics Co. Ltd. – Preferred (Semiconductors & Semiconductor Equipment) | $ | 921 | |||||
1,346 | ||||||||
Total Preferred Stocks | 15,880 | |||||||
Warrant — 0.00% | ||||||||
Singapore — 0.00% | ||||||||
80,602 | Olam International Ltd. (Food & Staples Retailing) (a) | 30 | ||||||
Total Warrant | 30 | |||||||
Rights — 0.00% | ||||||||
Russia — 0.00% | ||||||||
56,600 | The Moscow Exchange Micex (Diversified Financial Services) (a) | 56 | ||||||
South Korea — 0.00% | ||||||||
1,356 | DGB Financial Group, Inc. (Banks) (a) | 1 | ||||||
Taiwan — 0.00% | ||||||||
8,984 | EVA Airways Corp. (Airlines) (a) | 1 | ||||||
Total Rights | 58 | |||||||
U.S. Treasury Obligations — 0.00% | ||||||||
$20 | U.S. Treasury Bill, 0.02%, 3/12/15 (c) | 20 | ||||||
35 | U.S. Treasury Bill, 0.07%, 6/4/15 (c) | 35 | ||||||
Total U.S. Treasury Obligations | 55 | |||||||
Time Deposit — 0.96% | ||||||||
27,434 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/15 | 27,434 | ||||||
Total Time Deposit | 27,434 | |||||||
Mutual Funds — 0.78% | ||||||||
7,184,000 | Dreyfus Treasury Prime Cash Management Fund, 0.00% (d) | 7,184 | ||||||
437,777 | iShares MSCI India ETF | 13,173 | ||||||
273,000 | SSgA Treasury Money Market Fund | 273 | ||||||
1,875,000 | SSgA U.S. Government Money Market Fund | 1,875 | ||||||
Total Mutual Funds | 22,505 | |||||||
Repurchase Agreement — 0.17% | ||||||||
5,000 | Jefferies LLC, 0.12%, 1/2/15 (Purchased on 12/31/14, proceeds at maturity $5,000,033 collateralized by U.S. Treasury Obligations, 0.01% – 2.53%, 2/12/15 – 11/15/40 fair value $5,358,681) ˆˆ | 5,000 | ||||||
Total Repurchase Agreement | 5,000 | |||||||
Total Investments (cost $2,747,319) — 99.70% | 2,859,103 | |||||||
Other assets in excess of liabilities — 0.30% | 8,473 | |||||||
Net Assets — 100.00% | $ | 2,867,576 |
See accompanying notes to financial statements.
117
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Amounts designated as “—” are $0 or have been rounded to $0.
ˆ | All or part of this security was on loan as of December 31, 2014. The total value of securities on loan as of December 31, 2014, was $13,029 (amount in thousands). |
ˆˆ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2014. |
(a) | Represents non-income producing security. |
(b) | This security has been deemed illiquid by the Specialist Manager and represents 0.00% of the Portfolio’s net assets. |
(c) | The rate disclosed represents effective yield at purchase. |
(d) | The rate disclosed is the rate in effect on December 31, 2014. |
(e) | 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. |
ADR — American Depositary Receipt
ETF — Exchange Traded Fund
FDR — Fiduciary Depositary Receipt
GDR — Global Depositary Receipt
NVDR — Non-Voting Depository Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of 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. – Emerging | Total | |||||||||||||||||||||
Common Stocks | 7.41 | % | 57.77 | % | 8.58 | % | 7.54 | % | 10.22 | % | 5.72 | % | 97.24 | % | ||||||||||||||
Preferred Stocks | 0.10 | % | 0.20 | % | — | — | — | 0.25 | % | 0.55 | % | |||||||||||||||||
Time Deposit | 0.11 | % | — | 0.47 | % | 0.38 | % | — | — | 0.96 | % | |||||||||||||||||
Mutual Fund | — | 0.25 | % | — | — | 0.06 | % | 0.47 | % | 0.78 | % | |||||||||||||||||
Repurchase Agreement | — | 0.08 | % | 0.06 | % | 0.01 | % | 0.01 | % | 0.01 | % | 0.17 | % | |||||||||||||||
Other Assets (Liablities) | 0.04 | % | 0.23 | % | -0.03 | % | 0.04 | % | 0.01 | % | 0.01 | % | 0.30 | % | ||||||||||||||
Total Net Assets | 7.66 | % | 58.53 | % | 9.08 | % | 7.97 | % | 10.30 | % | 6.46 | % | 100.00 | % |
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2014.
Long Futures
Number of Contracts | Futures Contracts Positionsˆ | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
18 | Mini MSCI Emerging Markets Index Future | $ | 862 | 3/20/15 | $ | 24 | ||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | 24 |
Amounts designated as “—” are $0 or have been rounded to $0.
ˆ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Currency Contracts
Contract Amount (Local Currency) | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/14 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Purchased | ||||||||||||||||||||||||
14,334,724 | Japanese Yen | Credit Suisse | 1/6/15 | $ | 119 | $ | 120 | $ | 1 | |||||||||||||||
7,284,927 | Japanese Yen | Citibank | 1/5/15 | 61 | 61 | — | ||||||||||||||||||
10,587,306 | Japanese Yen | JPMorgan Chase | 1/7/15 | 88 | 88 | — | ||||||||||||||||||
1,632,670,000 | Korean Won | Citibank | 1/8/15 | 1,509 | 1,486 | (23 | ) | |||||||||||||||||
952,586 | Swedish Krona | Deutsche Bank | 1/5/15 | 123 | 122 | (1 | ) | |||||||||||||||||
Total Currencies Purchased | $ | 1,900 | $ | 1,877 | $ | (23) |
See accompanying notes to financial statements.
118
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
Contract Amount (Local Currency) | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/14 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Sold | ||||||||||||||||||||||||
6,970 | British Pound Sterling | Barclays Bank | 1/5/15 | $ | 11 | $ | 11 | $ | — | |||||||||||||||
51,297 | British Pound Sterling | Bank of New York | 1/5/15 | 80 | 80 | — | ||||||||||||||||||
1,037,000 | Euro | UBS Warbrug | 1/13/15 | 1,288 | 1,255 | 33 | ||||||||||||||||||
15,377,010 | Japanese Yen | Deutsche Bank | 1/6/15 | 127 | 128 | (1 | ) | |||||||||||||||||
12,206,521 | Japanese Yen | JPMorgan Chase | 1/5/15 | 101 | 102 | (1 | ) | |||||||||||||||||
4,311,885 | Japanese Yen | Citigroup | 1/7/15 | 36 | 36 | — | ||||||||||||||||||
1,632,670,000 | Korean Won | Citibank | 1/8/15 | 1,465 | 1,485 | (20 | ) | |||||||||||||||||
Total Currencies Sold | $ | 3,108 | $ | 3,097 | $ | 11 | ||||||||||||||||||
Net Unrealized/Appreciation(Depreciation) | $ | (12 | ) |
Amounts designated as “—” are $0 or has been rounded to $0.
See accompanying notes to financial statements.
119
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 90.65% | ||||||||
Bermuda — 1.36% | ||||||||
13,370,113 | Cosco Pacific Ltd. (Transportation Infrastructure) | $ | 18,938 | |||||
34,969,000 | GOME Electrical Appliances Holding Ltd. (Specialty Retail) | 5,112 | ||||||
24,050 | ||||||||
Brazil — 6.51% | ||||||||
797,400 | Ambev SA (Beverages) | 4,906 | ||||||
4,200 | Banco Bradesco SA (Banks) | 54 | ||||||
159,947 | Banco do Brasil SA (Banks) | 1,431 | ||||||
3,828 | Banco Santander Brasil SA (Banks) | 19 | ||||||
1,642,600 | BM&FBOVESPA SA (Diversified Financial Services) | 6,089 | ||||||
967,500 | Brasil Insurance Participacoes e Adminstracao SA (Insurance) (a) | 1,238 | ||||||
60,000 | BRF SA (Food Products) | 1,432 | ||||||
919,898 | Cia de Saneamento Basico do Estado de Sao Paulo SABESP, ADR (Water Utilities) | 5,786 | ||||||
408,400 | Cia Hering (Specialty Retail) | 3,112 | ||||||
1,327,134 | Cia Vale Do Rio, ADR (Metals & Mining) | 9,636 | ||||||
3,900 | Cielo SA (IT Services) | 61 | ||||||
1,123,600 | Cyrela Brazil Realty SA Empreendimentos (Household Durables) | 4,677 | ||||||
1,359,800 | Duratex SA (Paper Products) | 4,109 | ||||||
2,028,247 | EDP – Energias do Brasil SA (Electric Utilities) | 6,846 | ||||||
1,326,690 | Gerdau SA, ADR (Metals & Mining) | 4,710 | ||||||
489,500 | Grupo BTG Pactual SA (Capital Markets) | 5,186 | ||||||
524,691 | Itau Unibanco Holding SA, ADR (Banks) | 6,826 | ||||||
739,203 | Itau Unibanco Holding SA (Banks) | 9,626 | ||||||
3,591,426 | Magnesita Refratarios SA (Construction Materials) (a) | 2,798 | ||||||
384,774 | Oi SA, ADR (Diversified Telecommunication Services) ˆ(b) | 1,227 | ||||||
2,178,391 | Petroleo Brasileiro SA, ADR (Oil, Gas & Consumable Fuels) | 15,902 | ||||||
610,600 | Petroleo Brasileiro SA (Oil, Gas & Consumable Fuels) | 2,204 | ||||||
340,550 | Telefonica Brasil SA, ADR (Diversified Telecommunication Services) | 6,021 | ||||||
585,400 | Transmissora Alianca de Energia Eletrica SA (Electric Utilities) | 4,151 | ||||||
824,300 | Vale SA (Metals & Mining) | 6,797 | ||||||
114,844 | ||||||||
Cayman Islands — 1.54% | ||||||||
1,040,500 | Kingboard Chemical Holdings Ltd. (Electronic Equipment, Instruments & Components) | 1,747 | ||||||
42,294,000 | Parkson Retail Group Ltd. (Multiline Retail) (a) | 10,509 | ||||||
1,035,100 | Tencent Holdings Ltd. (Internet Software & Services) | 14,978 | ||||||
27,234 |
Shares | Security Description | Value (000) | ||||||
Chile — 1.78% | ||||||||
38,500 | Banco de Credito e Inversiones SA (Banks) | $ | 1,901 | |||||
363,346 | Cap SA (Metals & Mining) | 1,607 | ||||||
4,930,761 | Cencosud SA (Food & Staples Retailing) | 12,312 | ||||||
196,078,972 | CorpBanca SA (Banks) | 2,357 | ||||||
745,594 | Empresa Nacional de Telecomunicaciones SA (Wireless Telecommunication Services) (a) | 7,496 | ||||||
17,360,344 | Enersis SA (Electric Utilities) | 5,690 | ||||||
31,363 | ||||||||
China — 16.85% | ||||||||
14,091,000 | Agricultural Bank of China Ltd., H Shares (Banks) | 7,088 | ||||||
2,156,000 | Air China Ltd. (Airlines) | 1,740 | ||||||
3,821,000 | Anhui Conch Cement Co. Ltd., H Shares (Construction Materials) ˆ | 14,148 | ||||||
25,535,100 | Bank of China Ltd., H Shares (Banks) | 14,334 | ||||||
7,071,000 | Bank of Communications Co. Ltd., H Shares (Banks) | 6,575 | ||||||
3,857,500 | Baoxin Auto Group Ltd. (Specialty Retail) ˆ | 2,220 | ||||||
11,932,000 | Beijing Capital International Airport Co. Ltd., H Shares (Transportation Infrastructure) (a) | 9,513 | ||||||
7,716,000 | China CITIC Bank Corp. Ltd., H Shares (Banks) | 6,152 | ||||||
23,486,000 | China Communications Services Corp. Ltd., H Shares (Diversified Telecommunication Services) (a) | 10,983 | ||||||
53,732,350 | China Construction Bank Corp., H Shares (Banks) | 43,893 | ||||||
9,306,000 | China Everbright Bank Co. Ltd., H Shares (Banks) | 5,042 | ||||||
4,053,000 | China Life Insurance Co. Ltd., H Shares (Insurance) | 15,881 | ||||||
3,113,500 | China Merchants Bank Co. Ltd., H Shares (Banks) | 7,773 | ||||||
4,879,900 | China Minsheng Banking Corp. Ltd., H Shares (Banks) | 6,380 | ||||||
139,270 | China Mobile Ltd., ADR (Wireless Telecommunication Services) | 8,192 | ||||||
5,534,000 | China National Building Material Co. Ltd., H Shares (Construction Materials) | 5,339 | ||||||
16,800 | China Pacific Insurance Group Co. Ltd. (Insurance) | 85 | ||||||
10,797,400 | China Petroleum & Chemical Corp., H Shares (Oil, Gas & Consumable Fuels) | 8,746 | ||||||
3,122,000 | China Railway Construction Corp. Ltd., H Shares (Construction & Engineering) | 3,965 | ||||||
2,360,500 | China Shenhua Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 6,966 | ||||||
10,584,000 | China Telecom Corp. Ltd. (Diversified Telecommunication Services) | 6,139 | ||||||
8,038,000 | Chongqing Rural Commercial Bank Co. Ltd., H Shares (Banks) | 4,987 | ||||||
166,000 | Datang International Power Generation Co. Ltd., H Shares (Independent Power and Renewable Electricity Producers) | 90 |
See accompanying notes to financial statements.
120
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
China (continued) | ||||||||
2,816,000 | Dongfang Electric Corp. Ltd., H Shares (Electrical Equipment) ˆ | $ | 5,158 | |||||
22,629,200 | Global Bio-Chem Technology Group Co. Ltd. (Food Products) (a)(b) | 721 | ||||||
7,185,324 | Guangzhou Automobile Group Co. Ltd., H Shares (Automobiles) | 6,497 | ||||||
51,056,440 | Industrial & Commercial Bank of China Ltd., H Shares (Banks) | 37,286 | ||||||
3,702,000 | Jiangsu Expressway Co. Ltd., H Shares (Transportation Infrastructure) | 4,408 | ||||||
915,000 | Jiangxi Copper Co. Ltd., H Shares (Metals & Mining) | 1,562 | ||||||
13,263,000 | Lianhua Supermarket Holdings Ltd., H Shares (Food & Staples Retailing) ˆ(a)(b) | 6,635 | ||||||
3,848,000 | PetroChina Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 4,272 | ||||||
1,536,500 | Ping An Insurance Group Co. of China (Insurance) | 15,560 | ||||||
2,211,000 | Sinopec Engineering Group Co. Ltd., H Shares (Construction & Engineering) | 1,488 | ||||||
3,880,500 | Soho China Ltd. (Real Estate Management & Development) | 2,737 | ||||||
1,716,000 | Weichai Power Co. Ltd. (Machinery) | 7,194 | ||||||
7,792,000 | Wumart Stores, Inc., H Shares (Food & Staples Retailing) (a) | 6,655 | ||||||
568,000 | Zhejiang Expressway Co. Ltd., H Shares (Transportation Infrastructure) | 658 | ||||||
297,062 | ||||||||
Colombia — 0.15% | ||||||||
2,136,636 | Ecopetrol SA (Oil, Gas & Consumable Fuels) | 1,872 | ||||||
198,500 | Interconexion Electrica SA (Electric Utilities) | 721 | ||||||
2,593 | ||||||||
Egypt — 0.01% | ||||||||
98,243 | Telecom Egypt Co. (Diversified Telecommunication Services) | 162 | ||||||
Greece — 0.24% | ||||||||
2,428,537 | National Bank of Greece SA (Banks) (b) | 4,262 | ||||||
Hong Kong — 3.71% | ||||||||
1,683,500 | China Mobile Ltd. (Wireless Telecommunication Services) | 19,720 | ||||||
188,000 | China Overseas Land & Investment Ltd. (Real Estate Management & Development) | 556 | ||||||
2,526,000 | China Resources Power Holdings Co. Ltd. (Independent Power and Renewable Electricity Producers) | 6,444 | ||||||
3,639,500 | China Zhentong Auto Services Holdings Ltd. (Specialty Retail) | 1,613 | ||||||
13,110,000 | CNOOC Ltd. (Oil, Gas & Consumable Fuels) | 17,729 | ||||||
337 | Evergrande Real Estate Group Ltd. (Real Estate Management & Development) ˆ | — | ||||||
1,304,158 | NWS Holdings Ltd. (Industrial Conglomerates) | 2,392 |
Shares | Security Description | Value (000) | ||||||
Hong Kong (continued) | ||||||||
5,655,000 | Shanghai Industrial Holdings Ltd. (Industrial Conglomerates) (a) | $ | 16,891 | |||||
65,345 | ||||||||
Hungary — 1.22% | ||||||||
71,600 | MOL Hungarian Oil & Gas PLC (Oil, Gas & Consumable Fuels) | 3,146 | ||||||
769,285 | OTP Bank Nyrt PLC (Banks) | 11,107 | ||||||
533,746 | Richter Gedeon Nyrt (Pharmaceuticals) | 7,195 | ||||||
21,448 | ||||||||
India — 8.69% | ||||||||
1,283,301 | Bank of India (Commercial Banks) | 6,091 | ||||||
952,559 | Bharat Heavy Electricals Ltd. (Electrical Equipment) | 3,980 | ||||||
286,700 | Bharti Airtel Ltd. (Wireless Telecommunication Services) | 1,594 | ||||||
999,370 | Cairn India Ltd. (Oil, Gas & Consumable Fuels) | 3,809 | ||||||
271,000 | Coal India Ltd. (Coal & Consumable Fuels) | 1,642 | ||||||
222,800 | GAIL India Ltd. (Gas Utilities) | 1,564 | ||||||
23,832 | Hindalco Industries Ltd. (Metals & Mining) | 59 | ||||||
119,775 | Housing Development Finance Corp. Ltd. (Thrifts & Mortgage Finance) | 2,148 | ||||||
1,772,385 | ICICI Bank Ltd. (Banks) | 9,864 | ||||||
1,404,390 | IDFC Ltd. (Diversified Financial Services) | 3,477 | ||||||
7,902,651 | India Cements Ltd. (Construction Materials) (a)(b) | 10,623 | ||||||
182,944 | Infosys Ltd. (IT Services) | 5,678 | ||||||
114,765 | ITC Ltd. (Tobacco) | 669 | ||||||
117,129 | Jubilant Life Sciences Ltd. (Pharmaceuticals) | 225 | ||||||
348,800 | LIC Housing Finance Ltd. (Thirfts & Mortgage Finance) | 2,401 | ||||||
106,800 | Mahindra & Mahindra Ltd. (Automobiles) | 2,080 | ||||||
2,927,967 | NMDC Ltd. (Metals & Mining) | 6,720 | ||||||
2,790,041 | NTPC Ltd. (Independent Power and Renewable Electricity Producers) | 6,345 | ||||||
652,790 | Oil & Natural Gas Corp. Ltd. (Oil, Gas & Consumable Fuels) | 3,513 | ||||||
386,324 | Oriental Bank of Commerce (Banks) | 2,064 | ||||||
2,763,126 | Power Grid Corp. of India Ltd. (Electric Utilities) | 6,024 | ||||||
1,261,850 | Punjab National Bank (Banks) | 4,343 | ||||||
1,732,015 | Reliance Industries Ltd. (Oil, Gas & Consumable Fuels) | 24,358 | ||||||
11,540 | Reliance Industries Ltd., GDR (Oil, Gas & Consumable Fuels) (c) | 326 | ||||||
1,486,289 | Rolta India Ltd. (IT Services) | 2,194 | ||||||
22,594 | Rural Electrification Corp. Ltd. (Diversified Financial Services) | 119 | ||||||
1,275,700 | Sesa Sterlite Ltd. (Metals & Mining) | 4,309 | ||||||
91,938 | Sesa Sterlite Ltd., ADR (Metals & Mining) | 1,249 | ||||||
1,691,480 | South Indian Bank Ltd. (Banks) | 755 | ||||||
3,560,725 | State Bank of India (Banks) | 17,494 |
See accompanying notes to financial statements.
121
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
India (continued) | ||||||||
3,910,290 | Steel Authority of India Ltd. (Metals & Mining) | $ | 5,090 | |||||
58,134 | Tata Consultancy Services Ltd. (IT Services) | 2,356 | ||||||
447,700 | Tata Motors Ltd. (Automobiles) | 3,502 | ||||||
546,200 | Tata Power Co. Ltd. (Electric Utilities) | 708 | ||||||
708,800 | Tata Steel Ltd. (Metals & Mining) | 4,465 | ||||||
162,300 | Wipro Ltd. (IT Services) | 1,410 | ||||||
153,248 | ||||||||
Indonesia — 0.80% | ||||||||
1,788,700 | PT Astra International Tbk (Automobiles) | 1,067 | ||||||
488,800 | PT Bank Central Asia Tbk (Banks) | 519 | ||||||
2,603,700 | PT Bank Danamon Indonesia Tbk (Banks) | 948 | ||||||
2,566,700 | PT Bank Negara Indonesia Persero Tbk (Banks) | 1,258 | ||||||
524,500 | PT Bank Rakyat Indonesia Persero Tbk (Banks) | 493 | ||||||
9,419,500 | PT Indofood Sukses Makmur Tbk (Food Products) | 5,138 | ||||||
380,450 | PT Telekomunikasi Indonesia Persero Tbk (Diversified Telecommunication Services) | 87 | ||||||
3,298,300 | PT United Tractors Tbk (Machinery) | 4,608 | ||||||
14,118 | ||||||||
Jersey — 0.18% | ||||||||
29,828,000 | West China Cement Ltd. (Construction Materials) | 3,125 | ||||||
Malaysia — 2.49% | ||||||||
3,014,100 | AMMB Holdings Berhad (Banks) | 5,663 | ||||||
9,605,288 | CIMB Group Holdings Berhad (Banks) | 15,252 | ||||||
1,805,100 | Felda Global Ventures Holdings Berhad (Food Products) | 1,122 | ||||||
276,600 | Hong Leong Financial Group Berhad (Banks) | 1,300 | ||||||
5,159,283 | IOI Properties Group Berhad (Real Estate Management & Development) | 3,560 | ||||||
2,491,814 | Malayan Banking Berhad (Banks) | 6,529 | ||||||
222,000 | Public Bank Berhad (Banks) | 1,160 | ||||||
1,418,800 | RHB Capital Berhad (Banks) | 3,093 | ||||||
118,300 | Tenega Nasional Berhad (Electric Utilities) | 466 | ||||||
8,311,500 | YTL Corp. Berhad (Multi-Utilities) | 3,781 | ||||||
4,841,400 | YTL Power International Berhad (Multi-Utilities) | 2,045 | ||||||
43,971 | ||||||||
Mexico — 2.77% | ||||||||
2,429,600 | Alpek SA de CV (Chemicals) (b) | 3,110 | ||||||
5,885,900 | America Movil SAB de CV (Wireless Telecommunication Services) | 6,544 | ||||||
478,372 | Arca Continental SAB de CV (Beverages) (b) | 3,027 | ||||||
1,076,300 | Cemex SAB de CV (Construction Materials) (b) | 1,097 | ||||||
520,900 | Coca-Cola FEMSA SAB de CV, Series L (Beverages) | 4,472 |
Shares | Security Description | Value (000) | ||||||
Mexico (continued) | ||||||||
2,632,900 | Consorcio ARA SAB de CV (Household Durables) (b) | $ | 1,158 | |||||
807,390 | Volaris Aviation Holding Company, ADR (Airlines) (a)(b) | 7,283 | ||||||
469,500 | Fomento Economico Mexicano SAB de CV (Beverages) (b) | 4,166 | ||||||
728,337 | Grupo Aeroportuario del Pacifico SAB de CV, B Shares (Transportation Infrastructure) | 4,578 | ||||||
782,500 | Grupo Financiero Banorte SAB de CV (Banks) | 4,308 | ||||||
539,000 | Grupo Financiero Santander Mexico SAB de CV, B Shares (Banks) | 1,127 | ||||||
299,045 | Grupo Mexico SAB de CV, Series B (Metals & Mining) | 868 | ||||||
294,200 | Grupo Televisa SAB de CV (Media) (b) | 2,006 | ||||||
2,444,700 | Ohl Mexico SAB de CV (Transportation Infrastructure) (b) | 4,533 | ||||||
248,100 | Wal-Mart de Mexico SAB de CV, Series V (Food & Staples Retailing) | 534 | ||||||
48,811 | ||||||||
Peru — 0.28% | ||||||||
506,100 | Compania de Minas Buenaventura SA, ADR (Metals & Mining) | 4,838 | ||||||
400 | Credicorp Ltd. (Banks) | 64 | ||||||
4,902 | ||||||||
Philippines — 0.14% | ||||||||
1,303,800 | Metropolitan Bank & Trust Co. (Banks) | 2,404 | ||||||
Poland — 1.57% | ||||||||
2,193,100 | Getin Nobel Bank SA (Banks) (b) | 1,351 | ||||||
150,457 | KGHM Polska Miedz SA (Metals & Mining) | 4,591 | ||||||
850,383 | PGE SA (Electric Utilities) | 4,501 | ||||||
987,880 | Powszechna Kasa Oszczednosci Bank Polski SA (Banks) | 9,926 | ||||||
2,129,509 | Tauron Polska Energia SA (Electric Utilities) | 3,014 | ||||||
1,874,200 | Telekomunikacja Polska SA (Diversified Telecommunication Services) | 4,383 | ||||||
27,766 | ||||||||
Qatar — 0.49% | ||||||||
310,600 | Doha Bank Qsc (Banks) | 4,817 | ||||||
205,379 | The Commercial Bank of Qatar QSC (Banks) | 3,825 | ||||||
8,642 | ||||||||
Russia — 3.31% | ||||||||
4,559,599 | Gazprom OAO, GDR (Oil, Gas & Consumable Fuels) (a) | 20,655 | ||||||
80,319 | LUKOIL, ADR (Oil, Gas & Consumable Fuels) | 3,178 | ||||||
223,250 | LUKOIL OAO, ADR (Oil, Gas & Consumable Fuels) | 8,562 | ||||||
24,310 | Magnit OJSC, Registered Shares, GDR (Food & Staples Retailing) | 1,099 | ||||||
208,402 | MegaFon OAO, GDR (Wireless Telecommunication Services) (c) | 2,840 |
See accompanying notes to financial statements.
122
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Russia (continued) | ||||||||
1,415,282 | Rosneft Oil Co. OJSC, Registered Shares, GDR (Oil, Gas & Consumable Fuels) (c) | $ | 4,934 | |||||
1,633,848 | Sberbank of Russia, ADR (Banks) | 6,601 | ||||||
452,700 | Sberbank of Russia, ADR (Banks) | 1,753 | ||||||
111,764 | Severstal, Registered Shares, GDR (Metals & Mining) | 1,017 | ||||||
3,947 | Sistema JSFC – Registered, GDR (Wireless Telecommunication Services) | 21 | ||||||
13,069 | Sistema JSFC, Registered Shares, GDR (Wireless Telecommunication Services) | 68 | ||||||
944,006 | Surgutneftegaz OAO, ADR (Oil, Gas & Consumable Fuels) | 4,871 | ||||||
2,877,540 | The Moscow Exchange (Diversified Financial Services) | 2,804 | ||||||
58,403 | ||||||||
South Africa — 4.49% | ||||||||
450,300 | African Rainbow Minerals Ltd. (Metals & Mining) | 4,615 | ||||||
1,917,256 | Aveng Ltd. (Construction & Engineering) (b) | 2,910 | ||||||
427,358 | Barloworld Ltd. (Trading Companies & Distributors) | 3,521 | ||||||
93,463 | FirstRand Ltd. (Diversified Financial Services) | 407 | ||||||
583,366 | Growthpoint Properties Ltd. (Real Estate Investment Trusts) | 1,387 | ||||||
243,095 | Imperial Holdings Ltd. (Distributors) | 3,874 | ||||||
232,386 | Kumba Iron Ore Ltd. (Metals & Mining) | 4,810 | ||||||
321,443 | Liberty Holdings Ltd. (Insurance) | 3,412 | ||||||
283,430 | MTN Group Ltd. (Wireless Telecommunication Services) | 5,396 | ||||||
71,889 | Naspers Ltd. (Media) | 9,307 | ||||||
4,800,306 | Redefine Properties Ltd. (Real Estate Management & Development) | 4,444 | ||||||
89,719 | Sasol Ltd. (Oil, Gas & Consumable Fuels) | 3,351 | ||||||
1,616,965 | Standard Bank Group Ltd. (Banks) | 19,947 | ||||||
1,425,100 | Steinhoff International Holdings Ltd. (Household Durables) | 7,297 | ||||||
680,141 | Truworths International Ltd. (Specialty Retail) | 4,521 | ||||||
79,199 | ||||||||
South Korea — 16.64% | ||||||||
82,429 | BS Financial Group, Inc. (Banks) | 1,085 | ||||||
486,093 | DGB Financial Group, Inc. (Banks) ˆ | 4,997 | ||||||
47,200 | Doosan Corp. (Industrial Conglomerates) | 4,435 | ||||||
201,200 | Doosan Heavy Industries & Construction Co. Ltd. (Construction & Engineering) | 4,299 | ||||||
27,311 | E-Mart Co. Ltd. (Food & Staples Retailing) | 5,055 | ||||||
219,889 | Hana Financial Group, Inc. (Banks) | 6,369 | ||||||
154,111 | Hanwha Corp. (Chemicals) | 4,358 | ||||||
79,038 | Hynix Semiconductor, Inc. (Semiconductors & Semiconductor Equipment) (b) | 3,378 | ||||||
219,914 | Hyundai Engineering & Construction Co. Ltd. (Construction & Engineering) | 8,374 |
Shares | Security Description | Value (000) | ||||||
South Korea (continued) | ||||||||
30,681 | Hyundai Marine & Fire Insurance Co. Ltd. (Insurance) | $ | 726 | |||||
36,140 | Hyundai Mobis Co. Ltd. (Automobiles) | 7,733 | ||||||
155,330 | Hyundai Motor Co. Ltd. (Automobiles) | 23,731 | ||||||
407,400 | Industrial Bank of Korea (Banks) | 5,212 | ||||||
222,849 | Jinro Ltd. (Beverages) ˆ | 4,682 | ||||||
302,800 | KB Financial Group, Inc., ADR (Banks) (a)(b) | 9,877 | ||||||
533,431 | KB Financial Group, Inc. (Banks) | 17,443 | ||||||
18,081 | Kia Motors Corp. (Automobiles) | 859 | ||||||
726,920 | Korea Electric Power Corp., ADR (Electric Utilities) (b) | 14,073 | ||||||
307 | Korean Reinsurance Co. (Insurance) | 3 | ||||||
243,230 | KT Corp., ADR (Diversified Telecommunication Services) (b) | 3,434 | ||||||
193,482 | KT Corp. (Diversified Telecommunication Services) | 5,472 | ||||||
2,315 | KT&G Corp. (Tobacco) | 161 | ||||||
51,342 | LG Chem Ltd. (Chemicals) | 8,397 | ||||||
24,245 | LG Corp. (Industrial Conglomerates) | 1,347 | ||||||
161,756 | LG Electronics, Inc. (Household Durables) | 8,666 | ||||||
26,882 | Lotte Shopping Co. Ltd. (Multiline Retail) | 6,650 | ||||||
94,171 | LS Corp. (Electrical Equipment) | 4,646 | ||||||
3,044 | Naver Corp. (Internet Software & Services) | 1,950 | ||||||
22,434 | Nong Shim Co. Ltd. (Food Products) | 5,147 | ||||||
56,448 | POSCO (Metals & Mining) | 14,221 | ||||||
52,560 | POSCO, ADR (Metals & Mining) | 3,354 | ||||||
53,152 | Samsung Electronics Co. Ltd. (Semiconductors & Semiconductor Equipment) | 63,910 | ||||||
387,024 | Shinhan Financial Group Co. Ltd. (Banks) | 15,560 | ||||||
57,130 | Shinsegae Co. Ltd. (Multiline Retail) | 9,379 | ||||||
35,976 | SK Holdings Co. Ltd. (Industrial Conglomerates) | 5,340 | ||||||
1,621 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 397 | ||||||
382,430 | Tong Yang Life Insurance Co. Ltd. (Insurance) | 3,738 | ||||||
541,154 | Woori Bank (Banks) (b) | 4,924 | ||||||
293,382 | ||||||||
Taiwan — 10.82% | ||||||||
3,308,000 | Advanced Semiconductor Engineering, Inc. (Semiconductors & Semiconductor Equipment) | 3,929 | ||||||
960,971 | Asia Cement Corp. (Construction Materials) | 1,183 | ||||||
345,000 | Asustek Computer, Inc. (Technology Hardware, Storage & Peripherals) | 3,765 | ||||||
11,387,000 | AU Optronics Corp. (Electronic Equipment, Instruments & Components) | 5,780 | ||||||
454,500 | Cathay Financial Holding Co. Ltd. (Insurance) | 672 | ||||||
954,000 | China Motor Corp. (Automobiles) | 843 | ||||||
182,611 | China Steel Corp. (Metals & Mining) | 151 |
See accompanying notes to financial statements.
123
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Taiwan (continued) | ||||||||
178,000 | Chunghwa Telecom Co. Ltd. (Diversified Telecommunication Services) | $ | 528 | |||||
22,457,000 | Compal Electronics, Inc. (Technology Hardware, Storage & Peripherals) | 15,681 | ||||||
73,000 | Delta Electronics, Inc. (Electronic Equipment, Instruments & Components) | 431 | ||||||
957,133 | Far Eastern Department Stores Ltd. (Multiline Retail) | 850 | ||||||
3,021,868 | Far Eastern New Century Corp. (Industrial Conglomerates) | 2,989 | ||||||
164,000 | Farglory Land Development Co. Ltd. (Real Estate Management & Development) | 195 | ||||||
7,742,486 | First Financial Holdings Co. Ltd. (Banks) | 4,540 | ||||||
113,200 | Formosa Plastics Corp. (Chemicals) | 258 | ||||||
629,000 | Formosa Taffeta Co. Ltd. (Textiles, Apparel & Luxury Goods) | 621 | ||||||
317,996 | Fubon Financial Holding Co. Ltd. (Diversified Financial Services) | 506 | ||||||
1,000 | Grand Pacific Petrochemical Corp. (Chemicals) | 1 | ||||||
6,510,316 | Hon Hai Precision Industry Co. Ltd. (Electronic Equipment, Instruments & Components) | 17,980 | ||||||
12,045,000 | Innolux Corp. (Electronic Equipment, Instruments & Components) | 5,822 | ||||||
1,000 | Inventec Corp. (Technology Hardware, Storage & Peripherals) | 1 | ||||||
4,338,552 | Lite-On Technology Corp. (Technology Hardware, Storage & Peripherals) | 4,957 | ||||||
170,962 | MediaTek, Inc. (Semiconductors & Semiconductor Equipment) | 2,486 | ||||||
8,311,477 | Mega Financial Holding Co. Ltd. (Banks) | 6,413 | ||||||
116,240 | Nan Ya Plastics Corp. (Chemicals) | 240 | ||||||
1,993,740 | Nan Ya Printed Circuit Board Corp. (Electronic Equipment, Instruments & Components) (b) | 2,602 | ||||||
2,154,000 | Pegatron Corp. (Technology Hardware, Storage & Peripherals) | 4,924 | ||||||
2,183,620 | Pou Chen Corp. (Textiles, Apparel & Luxury Goods) | 2,633 | ||||||
2,309,150 | Radiant Opto-Electronics Corp. (Semiconductors & Semiconductor Equipment) | 7,352 | ||||||
2,468,000 | Ruentex Industries Ltd. (Textiles, Apparel & Luxury Goods) | 5,176 | ||||||
31,645,550 | Shin Kong Financial Holding Co. Ltd. (Insurance) | 8,964 | ||||||
633,000 | Simplo Technology Co. Ltd. (Electronic Equipment, Instruments & Components) | 3,120 | ||||||
13,557,000 | SinoPac Financial Holdings Co. Ltd. (Banks) | 5,556 | ||||||
2,569,000 | Synnex Technology International Corp. (Electronic Equipment, Instruments & Components) | 3,721 | ||||||
11,822,038 | Taishin Financial Holding Co. Ltd. (Banks) | 4,853 |
Shares | Security Description | Value (000) | ||||||
Taiwan (continued) | ||||||||
5,735,000 | Taiwan Business Bank (Banks) (b) | $ | 1,662 | |||||
1,596,000 | Taiwan Cement Corp. (Construction Materials) | 2,182 | ||||||
2,149,000 | Taiwan Cooperative Financial Holding Co. Ltd. (Banks) | 1,105 | ||||||
7,048,000 | Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment) | 31,052 | ||||||
127,230 | Taiwan Semiconductor Manufacturing Co. Ltd., ADR (Semiconductors & Semiconductor Equipment) | 2,847 | ||||||
268,550 | TSRC Corp. (Chemicals) | 286 | ||||||
5,642,000 | Unimicron Technology Corp. (Electronic Equipment, Instruments & Components) | 4,274 | ||||||
3,076,981 | United Microelectronics Corp., ADR (Semiconductors & Semiconductor Equipment) (a) | 6,985 | ||||||
12,889,000 | United Microelectronics Corp. (Semiconductors & Semiconductor Equipment) | 5,983 | ||||||
9,870,000 | Walsin Lihwa Corp. (Electrical Equipment) (b) | 3,096 | ||||||
1,715,408 | Wistron Corp. (Technology Hardware, Storage & Peripherals) | 1,545 | ||||||
190,740 | ||||||||
Thailand — 2.71% | ||||||||
2,215,300 | Bangkok Bank Public Co. Ltd. – Foreign Registered Shares (Banks) | 13,166 | ||||||
907,800 | Bangkok Bank Public Co. Ltd. – NVDR (Banks) | 5,334 | ||||||
142,700 | Banpu Public Co. Ltd., Foreign Registered Shares (Oil, Gas & Consumable Fuels) | 108 | ||||||
100 | Delta Electronics (Thailand) Public Co. Ltd. – Foreign Registered Shares (Electronic Equipment, Instruments & Components) | — | ||||||
1,229,075 | PTT Exploration & Production Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 4,163 | ||||||
8,212,142 | PTT Global Chemical Public Co. Ltd. (Chemicals) | 12,746 | ||||||
607,800 | PTT Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 5,956 | ||||||
4,891,600 | Thai Oil Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 6,226 | ||||||
47,699 | ||||||||
Turkey — 1.50% | ||||||||
3,007,100 | Emlak Konut Gayrimenkul Yatirim (Real Estate Investment Trusts) | 3,561 | ||||||
1 | Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class – D (Metals & Mining) (b) | — | ||||||
862,902 | Turkcell Iletisim Hizmetleri A/S (Wireless Telecommunication Services) (b) | 5,273 | ||||||
1,171,212 | Turkiye Halk Bankasi A/S (Banks) | 6,947 | ||||||
2,045,008 | Turkiye Is Bankasi A/S, C Shares (Banks) | 5,888 |
See accompanying notes to financial statements.
124
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Turkey (continued) | ||||||||
2,262,600 | Turkiye Vakiflar Bankasi TAO, Class – D (Banks) | $ | 4,712 | |||||
26,381 | ||||||||
Ukraine — 0.00% | ||||||||
221,395 | JKX Oil & Gas PLC (Oil, Gas & Consumable Fuels) ˆ(b) | 41 | ||||||
United Arab Emirates — 0.40% | ||||||||
2,148,700 | Abu Dhabi Commercial Bank PJSC (Banks) | 4,046 | ||||||
1,544,840 | Emaar Properties PJSC (Real Estate Management & Development) | 2,978 | ||||||
7,024 | ||||||||
Total Common Stocks | 1,598,219 | |||||||
Preferred Stocks — 4.13% | ||||||||
Brazil — 3.32% | ||||||||
322,000 | Banco Bradesco SA – Preferred (Banks) | 4,249 | ||||||
1,137,200 | Banco do Estado do Rio Grande do Sul SA – Preferred, B Shares (Banks) | 6,205 | ||||||
81,617 | Bradespar SA – Preferred (Metals & Mining) | 439 | ||||||
1,035,712 | Companhia Energetica de Minas Gerais SA – Preferred, ADR (Electric Utilities) | 5,121 | ||||||
433,500 | Companhia Energetica de Sao Paulo – Preferred, B Shares (Independent Power and Renewable Electricity Producers) | 4,374 | ||||||
319,800 | Companhia Paranaense de Energia-COPEL – Preferred, B Shares (Electric Utilities) | 4,321 | ||||||
2,586,500 | Gerdau SA – Preferred (Metals & Mining) | 9,326 | ||||||
1,270,126 | Itausa – Investimentos Itau SA – Preferred (Banks) | 4,488 | ||||||
155,300 | Metalurgica Gerdau SA – Preferred (Metals & Mining) | 660 | ||||||
890,600 | Petroleo Brasileiro SA – Preferred (Oil, Gas & Consumable Fuels) | 3,358 | ||||||
1,791,000 | Randon Participacoes SA – Preferred (Automobiles) | 3,215 | ||||||
287,309 | Telefonica Brasil SA – Preferred (Diversified Telecommunication Services) | 5,066 | ||||||
1,073,381 | Vale SA – Preferred (Metals & Mining) | 7,769 | ||||||
58,591 | ||||||||
Chile — 0.05% | ||||||||
335,607 | Embotelladora Andina SA – Preferred, B Shares (Beverages) | 950 | ||||||
Colombia — 0.28% | ||||||||
404,696 | Bancolombia SA – Preferred (Banks) | 4,880 | ||||||
South Korea — 0.48% | ||||||||
8,905 | Samsung Electronics Co. Ltd. – Preferred (Semiconductors & Semiconductor Equipment) | 8,377 | ||||||
Total Preferred Stocks | 72,798 |
Shares or Principal Amount (000) | Security Description | Value (000) | ||||||
Right — 0.00% | ||||||||
South Korea — 0.00% | ||||||||
12,990 | DGB Financial Group, Inc. (Banks) (b) | $ | 14 | |||||
Total Right | 14 | |||||||
Time Deposit — 0.59% | ||||||||
10,425 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.01%, 1/2/15 | 10,425 | ||||||
Total Time Deposit | 10,425 | |||||||
Mutual Funds — 5.14% | ||||||||
430,000 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares, 0.00% (d) | 430 | ||||||
837,800 | iShares Asia Trust – iShares FTSE A50 China Index ETF ˆ | 1,402 | ||||||
1,461,486 | iShares MSCI Emerging Markets Index Fund ETF | 57,423 | ||||||
18,480 | iShares MSCI Taiwan Index Fund ETF | 279 | ||||||
27,349,000 | SSgA Treasury Money Market Fund | 27,349 | ||||||
169,473 | WisdomTree India Earnings Fund ETF | 3,737 | ||||||
Total Mutual Funds | 90,620 | |||||||
Repurchase Agreement — 0.57% | ||||||||
10,000 | Jefferies LLC, 0.12%, 1/2/15 (Purchased on 12/31/14, proceeds at maturity $10,000,067 collateralized by U.S. Treasury Obligations, 0.01% – 2.53%, 2/12/15 – 11/15/40 fair value $10,212,314) ˆˆ | 10,000 | ||||||
Total Repurchase Agreement | 10,000 | |||||||
Total Investments (cost $1,876,074) — 101.08% | 1,782,076 | |||||||
Liabilities in excess of other assets — (1.08%) | (18,973 | ) | ||||||
Net Assets — 100.00% | $ | 1,763,103 |
Amounts designated as “—” are $0 or have been rounded to $0.
ˆ | All or part of this security was on loan as of December 31, 2014. The total value of securities on loan as of December 31, 2014, was $13,912 (amount in thousands). |
ˆˆ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2014. |
(a) | These securities have been deemed illiquid by the Specialist Manager and represents 7.31% of the Portfolio's net assets. |
(b) | Represents non-income producing security. |
See accompanying notes to financial statements.
125
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
(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) | The rate disclosed is the rate in effect on December 31, 2014. |
ADR — American Depositary Receipt
ETF — Exchange Traded Fund
GDR — Global Depositary Receipt
NVDR — Non-Voting Depository Receipt
The following table reflects the percentage of 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. | HC Capital Solutions | Total | ||||||||||||
Common Stocks | 45.99 | % | 44.66 | % | — | 90.65 | % | |||||||||
Preferred Stocks | 1.06 | % | 3.07 | % | — | 4.13 | % | |||||||||
Time Deposits | 0.59 | % | — | — | 0.59 | % | ||||||||||
Mutual Funds | 1.31 | % | 2.04 | % | 1.79 | % | 5.14 | % | ||||||||
Repurchase Agreement | 0.14 | % | 0.43 | % | — | 0.57 | % | |||||||||
Other Assets (Liablities) | 0.03 | % | -1.11 | % | — | -1.08 | % | |||||||||
Total Net Assets | 49.12 | % | 49.09 | % | 1.79 | % | 100.00 | % |
See accompanying notes to financial statements.
126
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Asset Backed Securities — 0.52% | ||||||||||||||||
$27 | Ally Auto Receivables Trust, Series 2012-4, Class A3 | 0.59 | 1/17/17 | $ | 27 | |||||||||||
25 | American Express Credit Account Master Trust, Series 2012-5, Class A | 0.59 | 5/15/18 | 25 | ||||||||||||
25 | AmeriCredit Automobile Receivables Trust, Series 2013-5, Class A3 | 0.90 | 9/8/18 | 25 | ||||||||||||
110 | Capital One Multi-Asset Execution Trust, Series 2006-A3, Class A3 | 5.05 | 12/17/18 | 115 | ||||||||||||
20 | CarMax Auto Owner Trust, Series 2012-2, Class A4 | 1.16 | 12/15/17 | 20 | ||||||||||||
100 | Citibank Credit Card Issuance Trust, Series 2014-A4, Class A4 | 1.23 | 4/24/19 | 100 | ||||||||||||
50 | Ford Credit Auto Owner Trust, Series 2013-C, Class A4 | 1.25 | 10/15/18 | 50 | ||||||||||||
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 | ||||||||||||
25 | Santander Drive Auto Receivables Trust, Series 2014-3, Class C | 2.13 | 8/17/20 | 25 | ||||||||||||
20 | World Omni Auto Receivables Trust, Series 2014-A, Class A3 | 0.94 | 4/15/19 | 20 | ||||||||||||
Total Asset Backed Securities | 527 | |||||||||||||||
Collateralized Mortgage Obligations — 2.25% | ||||||||||||||||
140 | Banc of America Commercial Mortgage, Inc., Series 2006-2, Class AJ (a) | 5.76 | 5/10/45 | 146 | ||||||||||||
25 | Citigroup Commercial Mortgage Trust, Series 2014-GC23, Class A4 | 3.62 | 7/10/47 | 26 | ||||||||||||
38 | Commercial Mortgage Trust, Series 2013-CR8, Class A1 | 1.02 | 6/10/46 | 38 | ||||||||||||
20 | Commercial Mortgage Trust, Series 2014-LC15, Class A2 | 2.84 | 4/10/47 | 21 | ||||||||||||
20 | Commercial Mortgage Trust, Series 2014-CR15, Class A2 | 2.93 | 2/10/47 | 21 | ||||||||||||
50 | Commercial Mortgage Trust, Series 2013-CR8, Class A5 (a) | 3.61 | 6/10/46 | 52 | ||||||||||||
25 | Commercial Mortgage Trust, Series 2014-UBS3, Class A4 | 3.82 | 6/10/47 | 27 | ||||||||||||
30 | Commercial Mortgage Trust, Series 2014-CR15, Class A4 (a) | 4.07 | 2/10/47 | 32 | ||||||||||||
50 | Commercial Mortgage Trust, Series 2013-CR11, Class A4 | 4.26 | 10/10/46 | 55 | ||||||||||||
25 | Commercial Mortgage Trust, Series 2013-CR11, Class B (a) | 5.33 | 10/10/46 | 28 | ||||||||||||
66 | Fannie Mae, Series 2013-M14, Class APT (a) | 2.59 | 4/25/23 | 66 | ||||||||||||
26 | Fannie Mae, Series 2014-M3, Class AB2 (a) | 3.46 | 1/25/24 | 27 | ||||||||||||
27 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K714, Class A1 | 2.08 | 12/25/19 | 28 | ||||||||||||
70 | �� | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K027, Class A2 | 2.64 | 1/25/23 | 70 | |||||||||||
25 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K017, Class A2 | 2.87 | 12/25/21 | 26 | ||||||||||||
19 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class A1 | 3.02 | 2/25/23 | 20 | ||||||||||||
30 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K033, Class A2 (a) | 3.06 | 7/25/23 | 31 | ||||||||||||
35 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class A2 (a) | 3.31 | 5/25/23 | 37 | ||||||||||||
60 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K014, Class A2 | 3.87 | 4/25/21 | 65 | ||||||||||||
35 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K012, Class A2 | 4.19 | 12/25/20 | 39 | ||||||||||||
15 | Greenwich Capital Commercial Funding Corp., Series 2005-GG5, Class AM (a) | 5.28 | 4/10/37 | 15 | ||||||||||||
25 | GS Mortgage Securities Trust, Series 2013-GC14, Class A5 | 4.24 | 8/10/46 | 27 | ||||||||||||
20 | JPMBB Commercial Mortgage Securities Trust, Series 2014-C21, Class A5 | 3.77 | 8/15/47 | 21 |
See accompanying notes to financial statements.
127
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Collateralized Mortgage Obligations (continued) | ||||||||||||||||
$50 | JPMBB Commercial Mortgage Securities Trust, Series 2013-C15, Class A5 | 4.13 | 11/15/45 | $ | 54 | |||||||||||
150 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2012-C8, Class A3 | 2.83 | 10/15/45 | 150 | ||||||||||||
255 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2006-CB17, Class A4 | 5.43 | 12/12/43 | 269 | ||||||||||||
25 | LB-UBS Commercial Mortgage Trust, Series 2006-C7, Class AM | 5.38 | 10/15/16 | 26 | ||||||||||||
40 | Merrill Lynch Mortgage Trust, Series 2007-C1, Class A3 (a) | 6.03 | 11/12/16 | 40 | ||||||||||||
19 | Morgan Stanley BAML Trust, Series 2013-C9, Class A1 | 0.83 | 5/15/46 | 18 | ||||||||||||
50 | Morgan Stanley BAML Trust, Series 2013-C11, Class A2 | 3.09 | 8/15/46 | 52 | ||||||||||||
50 | Morgan Stanley BAML Trust, Series 2013-C9, Class AS | 3.46 | 5/15/46 | 51 | ||||||||||||
25 | Morgan Stanley BAML Trust, Series 2014-C17, Class A5 | 3.74 | 8/15/47 | 26 | ||||||||||||
255 | Morgan Stanley Capital I, Series 2007-HQ11, Class A4 (a) | 5.45 | 2/12/44 | 273 | ||||||||||||
145 | Morgan Stanley Capital I, Series 2006-HQ9, Class A4 (a) | 5.73 | 7/12/44 | 152 | ||||||||||||
184 | Morgan Stanley Capital I, Series 2007-IQ15, Class A4 (a) | 5.91 | 7/11/17 | 200 | ||||||||||||
20 | UBS-Barclays Commercial Mortgage Trust, Series 2012-C2, Class A2 | 2.11 | 5/10/63 | 20 | ||||||||||||
30 | UBS-Barclays Commercial Mortgage Trust, Series 2012-C4, Class A5 | 2.85 | 12/10/45 | 30 | ||||||||||||
Total Collateralized Mortgage Obligations | 2,279 | |||||||||||||||
U.S. Government Agency Mortgages — 31.57% | ||||||||||||||||
25 | Fannie Mae, Pool #AT7281 | 2.00 | 9/1/28 | 24 | ||||||||||||
99 | Fannie Mae, Pool #AS2673 | 2.00 | 5/1/29 | 99 | ||||||||||||
88 | Fannie Mae, Pool #AU1660 | 2.50 | 7/1/28 | 90 | ||||||||||||
147 | Fannie Mae, Pool #AP4742 | 2.50 | 8/1/27 | 150 | ||||||||||||
91 | Fannie Mae, Pool #AU0293 | 2.50 | 8/1/28 | 93 | ||||||||||||
89 | Fannie Mae, Pool #AU6677 | 2.50 | 9/1/28 | 91 | ||||||||||||
88 | Fannie Mae, Pool #AO3019 | 2.50 | 5/1/27 | 89 | ||||||||||||
149 | Fannie Mae, Pool #MA1210 | 2.50 | 9/1/49 | 152 | ||||||||||||
152 | Fannie Mae, Pool #MA1277 | 2.50 | 12/1/27 | 155 | ||||||||||||
70 | Fannie Mae, Pool #AB7391 | 2.50 | 12/1/42 | 68 | ||||||||||||
90 | Fannie Mae, Pool #AT2127 | 3.00 | 4/1/43 | 91 | ||||||||||||
153 | Fannie Mae, Pool #AO0752 | 3.00 | 4/1/42 | 155 | ||||||||||||
136 | Fannie Mae, Pool #AK0006 | 3.00 | 1/1/27 | 142 | ||||||||||||
90 | Fannie Mae, Pool #AU8932 | 3.00 | 11/1/28 | 93 | ||||||||||||
255 | Fannie Mae, Pool #AB7099 | 3.00 | 11/1/42 | 258 | ||||||||||||
115 | Fannie Mae, Pool #AB4483 | 3.00 | 2/1/27 | 120 | ||||||||||||
214 | Fannie Mae, Pool #MA1307 | 3.00 | 1/1/33 | 222 | ||||||||||||
90 | Fannie Mae, Pool #AB8897 | 3.00 | 4/1/43 | 92 | ||||||||||||
263 | Fannie Mae, Pool #AJ3079 | 3.00 | 11/1/26 | 274 | ||||||||||||
338 | Fannie Mae, Pool #AP6375 | 3.00 | 9/1/42 | 343 | ||||||||||||
25 | Fannie Mae, Pool #AO7628 | 3.00 | 6/1/27 | 26 | ||||||||||||
63 | Fannie Mae, Pool #AW4057 | 3.00 | 8/1/29 | 66 | ||||||||||||
336 | Fannie Mae, Pool #AQ7920 | 3.00 | 12/1/42 | 341 | ||||||||||||
132 | Fannie Mae, Pool #AP6493 | 3.00 | 9/1/42 | 134 | ||||||||||||
95 | Fannie Mae, Pool #AS0302 | 3.00 | 8/1/43 | 96 |
See accompanying notes to financial statements.
128
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$105 | Fannie Mae, Pool #AU3735 | 3.00 | 8/1/43 | $ | 107 | |||||||||||
91 | Fannie Mae, Pool #AT0682 | 3.00 | 4/1/43 | 92 | ||||||||||||
93 | Fannie Mae, Pool #AT7311 | 3.00 | 7/1/43 | 94 | ||||||||||||
48 | Fannie Mae, Pool #AU3353 | 3.00 | 8/1/43 | 48 | ||||||||||||
49 | Fannie Mae, Pool #AW6710 | 3.00 | 6/1/29 | 51 | ||||||||||||
157 | Fannie Mae, Pool #AP2465 | 3.00 | 8/1/42 | 160 | ||||||||||||
94 | Fannie Mae, Pool #MA1107 | 3.50 | 7/1/32 | 100 | ||||||||||||
47 | Fannie Mae, Pool #AJ4867 | 3.50 | 1/1/42 | 49 | ||||||||||||
125 | Fannie Mae, Pool #MA0629 | 3.50 | 1/1/21 | 132 | ||||||||||||
47 | Fannie Mae, Pool #MA1921 | 3.50 | 6/1/34 | 49 | ||||||||||||
221 | Fannie Mae, Pool #AB4689 | 3.50 | 3/1/42 | 231 | ||||||||||||
93 | Fannie Mae, Pool #MA1059 | 3.50 | 5/1/32 | 98 | ||||||||||||
363 | Fannie Mae, Pool #AB6017 | 3.50 | 8/1/42 | 379 | ||||||||||||
273 | Fannie Mae, Pool #AO8137 | 3.50 | 8/1/42 | 285 | ||||||||||||
163 | Fannie Mae, Pool #AO3760 | 3.50 | 5/1/42 | 171 | ||||||||||||
25 | Fannie Mae, Pool #AJ1886 | 3.50 | 3/1/42 | 26 | ||||||||||||
280 | Fannie Mae, Pool #AL1717 | 3.50 | 5/1/27 | 296 | ||||||||||||
42 | Fannie Mae, Pool #AT2673 | 3.50 | 4/1/43 | 44 | ||||||||||||
168 | Fannie Mae, Pool #AP9390 | 3.50 | 10/1/42 | 175 | ||||||||||||
436 | Fannie Mae, Pool #AO2548 | 3.50 | 4/1/42 | 455 | ||||||||||||
163 | Fannie Mae, Pool #AQ0546 | 3.50 | 11/1/42 | 170 | ||||||||||||
218 | Fannie Mae, Pool #AH6242 | 4.00 | 4/1/26 | 234 | ||||||||||||
92 | Fannie Mae, Pool #AH5859 | 4.00 | 2/1/41 | 98 | ||||||||||||
49 | Fannie Mae, Pool #AU8849 | 4.00 | 11/1/43 | 53 | ||||||||||||
431 | Fannie Mae, Pool #190405 | 4.00 | 10/1/40 | 459 | ||||||||||||
107 | Fannie Mae, Pool #AC7328 | 4.00 | 12/1/39 | 115 | ||||||||||||
45 | Fannie Mae, Pool #AJ6153 | 4.00 | 11/1/41 | 48 | ||||||||||||
293 | Fannie Mae, Pool #AJ7689 | 4.00 | 12/1/41 | 313 | ||||||||||||
152 | Fannie Mae, Pool #MA0534 | 4.00 | 10/1/30 | 163 | ||||||||||||
90 | Fannie Mae, Pool #AO2959 | 4.00 | 5/1/42 | 96 | ||||||||||||
139 | Fannie Mae, Pool #AI1186 | 4.00 | 4/1/41 | 148 | ||||||||||||
285 | Fannie Mae, Pool #AI8534 | 4.00 | 8/1/41 | 304 | ||||||||||||
139 | Fannie Mae, Pool #AJ5303 | 4.00 | 11/1/41 | 148 | ||||||||||||
35 | Fannie Mae, Pool #745278 | 4.50 | 6/1/19 | 37 | ||||||||||||
35 | Fannie Mae, Pool #829106 | 4.50 | 10/1/20 | 38 | ||||||||||||
68 | Fannie Mae, Pool #AB3192 | 4.50 | 6/1/41 | 73 | ||||||||||||
21 | Fannie Mae, Pool #735646 | 4.50 | 7/1/20 | 23 | ||||||||||||
45 | Fannie Mae, Pool #MA0481 | 4.50 | 8/1/30 | 49 | ||||||||||||
50 | Fannie Mae, Pool #AU9017 | 4.50 | 9/1/43 | 54 | ||||||||||||
73 | Fannie Mae, Pool #AA9781 | 4.50 | 7/1/24 | 79 | ||||||||||||
35 | Fannie Mae, Pool #930998 | 4.50 | 4/1/29 | 37 | ||||||||||||
109 | Fannie Mae, Pool #AI1888 | 4.50 | 5/1/41 | 119 | ||||||||||||
313 | Fannie Mae, Pool #AE0217 | 4.50 | 8/1/40 | 341 |
See accompanying notes to financial statements.
129
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$46 | Fannie Mae, Pool #AE4314 | 4.50 | 9/1/40 | $ | 50 | |||||||||||
134 | Fannie Mae, Pool #AE0954 | 4.50 | 2/1/41 | 146 | ||||||||||||
45 | Fannie Mae, Pool #AB0388 | 4.50 | 4/1/19 | 47 | ||||||||||||
287 | Fannie Mae, Pool #AL1107 | 4.50 | 11/1/41 | 312 | ||||||||||||
258 | Fannie Mae, Pool #AH7521 | 4.50 | 3/1/41 | 281 | ||||||||||||
46 | Fannie Mae, Pool #AI8104 | 4.50 | 6/1/41 | 50 | ||||||||||||
305 | Fannie Mae, Pool #889117 | 5.00 | 10/1/35 | 338 | ||||||||||||
25 | Fannie Mae, Pool #890603 | 5.00 | 8/1/41 | 28 | ||||||||||||
25 | Fannie Mae, Pool #AA8753 | 5.00 | 6/1/39 | 28 | ||||||||||||
43 | Fannie Mae, Pool #AE0945 | 5.00 | 12/1/20 | 45 | ||||||||||||
180 | Fannie Mae, Pool #AH5988 | 5.00 | 3/1/41 | 200 | ||||||||||||
82 | Fannie Mae, Pool #AD5477 | 5.00 | 5/1/40 | 91 | ||||||||||||
66 | Fannie Mae, Pool #725238 | 5.00 | 3/1/34 | 73 | ||||||||||||
99 | Fannie Mae, Pool #AJ1263 | 5.00 | 9/1/26 | 104 | ||||||||||||
71 | Fannie Mae, Pool #725027 | 5.00 | 11/1/33 | 78 | ||||||||||||
68 | Fannie Mae, Pool #603083 | 5.50 | 1/1/17 | 72 | ||||||||||||
128 | Fannie Mae, Pool #AD0527 | 5.50 | 6/1/39 | 143 | ||||||||||||
455 | Fannie Mae, Pool #890221 | 5.50 | 12/1/33 | 512 | ||||||||||||
81 | Fannie Mae, Pool #959451 | 6.00 | 12/1/37 | 92 | ||||||||||||
147 | Fannie Mae, Pool #725228 | 6.00 | 3/1/34 | 169 | ||||||||||||
61 | Fannie Mae, Pool #AL0583 | 6.50 | 10/1/39 | 69 | ||||||||||||
92 | Fannie Mae, Pool #AE0442 | 6.50 | 1/1/39 | 105 | ||||||||||||
17 | Fannie Mae, Pool #888596 | 6.50 | 7/1/37 | 19 | ||||||||||||
71 | Fannie Mae, Pool #889984 | 6.50 | 10/1/38 | 81 | ||||||||||||
25 | Fannie Mae, 30 YR TBA | 3.00 | 1/25/45 | 25 | ||||||||||||
375 | Fannie Mae, 30 YR TBA | 3.50 | 1/25/45 | 391 | ||||||||||||
75 | Fannie Mae, 30 YR TBA | 3.50 | 2/25/45 | 78 | ||||||||||||
325 | Fannie Mae, 30 YR TBA | 4.00 | 2/25/44 | 346 | ||||||||||||
595 | Fannie Mae, 30 YR TBA | 4.00 | 1/25/45 | 634 | ||||||||||||
100 | Fannie Mae, 30 YR TBA | 4.50 | 1/25/44 | 109 | ||||||||||||
74 | Freddie Mac, Pool #J25686 | 2.00 | 9/1/28 | 74 | ||||||||||||
87 | Freddie Mac, Pool #849138 (a) | 2.45 | 10/1/43 | 89 | ||||||||||||
90 | Freddie Mac, Pool #G18470 | 2.50 | 6/1/28 | 92 | ||||||||||||
89 | Freddie Mac, Pool #G18485 | 2.50 | 10/1/28 | 91 | ||||||||||||
249 | Freddie Mac, Pool #G18459 | 2.50 | 3/1/28 | 254 | ||||||||||||
88 | Freddie Mac, Pool #G18475 | 2.50 | 8/1/28 | 90 | ||||||||||||
49 | Freddie Mac, Pool #J24626 | 2.50 | 7/1/28 | 50 | ||||||||||||
189 | Freddie Mac, Pool #1B7911 (a) | 2.72 | 12/1/40 | 202 | ||||||||||||
72 | Freddie Mac, Pool #G15145 | 3.00 | 7/1/29 | 74 | ||||||||||||
92 | Freddie Mac, Pool #G08525 | 3.00 | 5/1/43 | 93 | ||||||||||||
238 | Freddie Mac, Pool #G08524 | 3.00 | 3/1/43 | 241 | ||||||||||||
186 | Freddie Mac, Pool #G08537 | 3.00 | 7/1/43 | 189 | ||||||||||||
47 | Freddie Mac, Pool #Q20542 | 3.00 | 7/1/43 | 48 |
See accompanying notes to financial statements.
130
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$96 | Freddie Mac, Pool #J15438 | 3.00 | 5/1/21 | $ | 100 | |||||||||||
48 | Freddie Mac, Pool #Q20138 | 3.00 | 7/1/43 | 48 | ||||||||||||
69 | Freddie Mac, Pool #G08556 | 3.00 | 11/1/43 | 70 | ||||||||||||
88 | Freddie Mac, Pool #K90311 | 3.00 | 4/1/33 | 91 | ||||||||||||
93 | Freddie Mac, Pool #G08528 | 3.00 | 4/1/43 | 94 | ||||||||||||
271 | Freddie Mac, Pool #C09035 | 3.00 | 4/1/43 | 274 | ||||||||||||
87 | Freddie Mac, Pool #C04446 | 3.00 | 1/1/43 | 88 | ||||||||||||
96 | Freddie Mac, Pool #E09004 | 3.00 | 7/1/27 | 100 | ||||||||||||
145 | Freddie Mac, Pool #G18518 | 3.00 | 7/1/29 | 151 | ||||||||||||
50 | Freddie Mac, Pool #G18531 | 3.00 | 11/1/29 | 52 | ||||||||||||
90 | Freddie Mac, Pool #C91709 | 3.00 | 6/1/33 | 93 | ||||||||||||
90 | Freddie Mac, Pool #Q18101 | 3.50 | 5/1/43 | 94 | ||||||||||||
91 | Freddie Mac, Pool #Q09896 | 3.50 | 8/1/42 | 95 | ||||||||||||
99 | Freddie Mac, Pool #G08605 | 3.50 | 9/1/44 | 103 | ||||||||||||
93 | Freddie Mac, Pool #J13919 | 3.50 | 12/1/20 | 99 | ||||||||||||
49 | Freddie Mac, Pool #Q17596 | 3.50 | 4/1/43 | 51 | ||||||||||||
119 | Freddie Mac, Pool #C91456 | 3.50 | 6/1/32 | 125 | ||||||||||||
91 | Freddie Mac, Pool #C03759 | 3.50 | 2/1/42 | 95 | ||||||||||||
45 | Freddie Mac, Pool #G07283 | 3.50 | 7/1/42 | 47 | ||||||||||||
477 | Freddie Mac, Pool #G08495 | 3.50 | 6/1/42 | 496 | ||||||||||||
97 | Freddie Mac, Pool #G08591 | 3.50 | 6/1/44 | 101 | ||||||||||||
69 | Freddie Mac, Pool #Q25809 | 4.00 | 4/1/44 | 73 | ||||||||||||
67 | Freddie Mac, Pool #G08563 | 4.00 | 1/1/44 | 72 | ||||||||||||
32 | Freddie Mac, Pool #J14924 | 4.00 | 4/1/26 | 34 | ||||||||||||
94 | Freddie Mac, Pool #Q24955 | 4.00 | 2/1/44 | 101 | ||||||||||||
34 | Freddie Mac, Pool #J06163 | 4.00 | 1/1/20 | 36 | ||||||||||||
22 | Freddie Mac, Pool #Q25548 | 4.00 | 4/1/44 | 24 | ||||||||||||
332 | Freddie Mac, Pool #A96286 | 4.00 | 1/1/41 | 354 | ||||||||||||
92 | Freddie Mac, Pool #G08567 | 4.00 | 1/1/44 | 98 | ||||||||||||
8 | Freddie Mac, Pool #G14786 | 4.00 | 4/1/19 | 9 | ||||||||||||
25 | Freddie Mac, Pool #B18694 | 4.00 | 1/1/20 | 26 | ||||||||||||
32 | Freddie Mac, Pool #B19631 | 4.00 | 7/1/20 | 34 | ||||||||||||
111 | Freddie Mac, Pool #G18303 | 4.50 | 3/1/24 | 119 | ||||||||||||
410 | Freddie Mac, Pool #A97692 | 4.50 | 3/1/41 | 445 | ||||||||||||
20 | Freddie Mac, Pool #J10406 | 4.50 | 8/1/24 | 22 | ||||||||||||
99 | Freddie Mac, Pool #A97186 | 4.50 | 3/1/41 | 109 | ||||||||||||
22 | Freddie Mac, Pool #A97658 | 4.50 | 3/1/41 | 23 | ||||||||||||
71 | Freddie Mac, Pool #Q28202 | 4.50 | 12/1/43 | 77 | ||||||||||||
50 | Freddie Mac, Pool #Q04294 | 4.50 | 11/1/41 | 54 | ||||||||||||
25 | Freddie Mac, Pool #C90686 | 4.50 | 6/1/23 | 27 | ||||||||||||
25 | Freddie Mac, Pool #Q01065 | 4.50 | 6/1/41 | 27 | ||||||||||||
34 | Freddie Mac, Pool #C91377 | 4.50 | 6/1/31 | 37 | ||||||||||||
48 | Freddie Mac, Pool #C09059 | 4.50 | 3/1/44 | 52 |
See accompanying notes to financial statements.
131
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$50 | Freddie Mac, Pool #A14640 | 5.00 | 10/1/33 | $ | 56 | |||||||||||
68 | Freddie Mac, Pool #G01962 | 5.00 | 12/1/35 | 76 | ||||||||||||
158 | Freddie Mac, Pool #G04913 | 5.00 | 3/1/38 | 175 | ||||||||||||
136 | Freddie Mac, Pool #C01598 | 5.00 | 8/1/33 | 151 | ||||||||||||
67 | Freddie Mac, Pool #G04817 | 5.00 | 9/1/38 | 74 | ||||||||||||
73 | Freddie Mac, Pool #G05904 | 5.00 | 9/1/39 | 81 | ||||||||||||
302 | Freddie Mac, Pool #G01665 | 5.50 | 3/1/34 | 341 | ||||||||||||
111 | Freddie Mac, Pool #G04688 | 5.50 | 9/1/38 | 124 | ||||||||||||
31 | Freddie Mac, Pool #G30432 | 5.50 | 11/1/28 | 34 | ||||||||||||
9 | Freddie Mac, Pool #1G1537 (a) | 5.71 | 2/1/37 | 10 | ||||||||||||
140 | Freddie Mac, Pool #G02794 | 6.00 | 5/1/37 | 159 | ||||||||||||
13 | Freddie Mac, Pool #C90989 | 6.00 | 9/1/26 | 14 | ||||||||||||
41 | Freddie Mac, Pool #G03616 | 6.00 | 12/1/37 | 47 | ||||||||||||
100 | Freddie Mac, Gold 15 YR TBA | 3.50 | 1/15/30 | 106 | ||||||||||||
325 | Freddie Mac, Gold 15 YR TBA | 3.50 | 1/15/44 | 338 | ||||||||||||
25 | Freddie Mac, Gold 30 YR TBA | 2.50 | 1/15/44 | 24 | ||||||||||||
775 | Freddie Mac, Gold 30 YR TBA | 4.00 | 1/15/45 | 825 | ||||||||||||
25 | Freddie Mac, Gold 30 YR TBA | 4.00 | 2/15/45 | 27 | ||||||||||||
150 | Freddie Mac, Gold 30 YR TBA | 4.50 | 1/15/44 | 163 | ||||||||||||
32 | Government National Mortgage Association, Pool #MA0719 (a) | 2.00 | 1/20/43 | 33 | ||||||||||||
31 | Government National Mortgage Association, Pool #MA0483 (a) | 2.00 | 10/20/42 | 32 | ||||||||||||
33 | Government National Mortgage Association, Pool #MA0712 (a) | 2.50 | 1/20/43 | 34 | ||||||||||||
83 | Government National Mortgage Association, Pool #AA8341 | 2.50 | 2/15/28 | 85 | ||||||||||||
70 | Government National Mortgage Association, Pool #MA1155 | 2.50 | 7/20/43 | 69 | ||||||||||||
91 | Government National Mortgage Association, Pool #AA6149 | 3.00 | 3/20/43 | 93 | ||||||||||||
95 | Government National Mortgage Association, Pool #AA2654 | 3.00 | 6/15/43 | 98 | ||||||||||||
96 | Government National Mortgage Association, Pool #AA5897 | 3.00 | 12/15/42 | 98 | ||||||||||||
70 | Government National Mortgage Association, Pool #MA0205 | 3.00 | 7/20/27 | 74 | ||||||||||||
87 | Government National Mortgage Association, Pool #MA0851 | 3.00 | 3/20/43 | 89 | ||||||||||||
93 | Government National Mortgage Association, Pool #MA1447 | 3.00 | 11/20/43 | 96 | ||||||||||||
64 | Government National Mortgage Association, Pool #AF2664 | 3.00 | 7/15/43 | 66 | ||||||||||||
46 | Government National Mortgage Association, Pool #MA1374 | 3.00 | 10/20/43 | 47 | ||||||||||||
92 | Government National Mortgage Association, Pool #MA0461 | 3.00 | 10/20/42 | 94 | ||||||||||||
83 | Government National Mortgage Association, Pool #MA0391 | 3.00 | 9/20/42 | 85 | ||||||||||||
98 | Government National Mortgage Association, Pool #MA2147 | 3.00 | 8/20/44 | 101 | ||||||||||||
424 | Government National Mortgage Association, Pool #MA0624 | 3.00 | 12/20/42 | 435 | ||||||||||||
88 | Government National Mortgage Association, Pool #MA1011 | 3.00 | 5/20/43 | 90 | ||||||||||||
39 | Government National Mortgage Association, Pool #AC3938 | 3.50 | 1/15/43 | 41 | ||||||||||||
81 | Government National Mortgage Association, Pool #MA0852 | 3.50 | 3/20/43 | 85 | ||||||||||||
70 | Government National Mortgage Association, Pool #AB9211 | 3.50 | 11/15/42 | 74 | ||||||||||||
88 | Government National Mortgage Association, Pool #MA0699 | 3.50 | 1/20/43 | 92 | ||||||||||||
98 | Government National Mortgage Association, Pool #AJ0411 | 3.50 | 9/15/44 | 103 | ||||||||||||
98 | Government National Mortgage Association, Pool #MA2073 | 3.50 | 7/20/44 | 103 |
See accompanying notes to financial statements.
132
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$297 | Government National Mortgage Association, Pool #MA0220 | 3.50 | 7/20/42 | $ | 313 | |||||||||||
154 | Government National Mortgage Association, Pool #MA0462 | 3.50 | 10/20/42 | 162 | ||||||||||||
84 | Government National Mortgage Association, Pool #MA0934 | 3.50 | 4/20/43 | 88 | ||||||||||||
46 | Government National Mortgage Association, Pool #MA1012 | 3.50 | 5/20/43 | 48 | ||||||||||||
36 | Government National Mortgage Association, Pool #778157 | 3.50 | 3/15/42 | 38 | ||||||||||||
87 | Government National Mortgage Association, Pool #MA0318 | 3.50 | 8/20/42 | 92 | ||||||||||||
284 | Government National Mortgage Association, Pool #MA0088 | 3.50 | 5/20/42 | 298 | ||||||||||||
88 | Government National Mortgage Association, Pool #MA0154 | 3.50 | 6/20/42 | 92 | ||||||||||||
74 | Government National Mortgage Association, Pool #MA2223 | 3.50 | 9/20/44 | 78 | ||||||||||||
82 | Government National Mortgage Association, Pool #MA1574 | 3.50 | 1/20/29 | 88 | ||||||||||||
23 | Government National Mortgage Association, Pool #MA1600 | 3.50 | 1/20/44 | 25 | ||||||||||||
117 | Government National Mortgage Association, Pool #MA1838 | 3.50 | 4/20/44 | 123 | ||||||||||||
98 | Government National Mortgage Association, Pool #MA2148 | 3.50 | 8/20/44 | 103 | ||||||||||||
69 | Government National Mortgage Association, Pool #MA1761 | 4.00 | 3/20/44 | 74 | ||||||||||||
74 | Government National Mortgage Association, Pool #741682 | 4.00 | 7/15/41 | 79 | ||||||||||||
74 | Government National Mortgage Association, Pool #738710 | 4.00 | 9/15/41 | 79 | ||||||||||||
25 | Government National Mortgage Association, Pool #774767 | 4.00 | 12/15/41 | 27 | ||||||||||||
80 | Government National Mortgage Association, Pool #770602 | 4.00 | 9/15/41 | 86 | ||||||||||||
160 | Government National Mortgage Association, Pool #MA1091 | 4.00 | 6/20/43 | 171 | ||||||||||||
75 | Government National Mortgage Association, Pool #766495 | 4.00 | 10/15/41 | 80 | ||||||||||||
309 | Government National Mortgage Association, Pool #005139 | 4.00 | 8/20/41 | 332 | ||||||||||||
249 | Government National Mortgage Association, Pool #MA1839 | 4.00 | 4/20/44 | 267 | ||||||||||||
72 | Government National Mortgage Association, Pool #MA1996 | 4.00 | 6/20/44 | 77 | ||||||||||||
74 | Government National Mortgage Association, Pool #MA2224 | 4.00 | 9/20/44 | 80 | ||||||||||||
143 | Government National Mortgage Association, Pool #MA2074 | 4.00 | 7/20/44 | 153 | ||||||||||||
83 | Government National Mortgage Association, Pool #MA1286 | 4.00 | 9/20/43 | 89 | ||||||||||||
145 | Government National Mortgage Association, Pool #MA2149 | 4.00 | 8/20/44 | 156 | ||||||||||||
179 | Government National Mortgage Association, Pool #MA1762 | 4.50 | 3/20/44 | 196 | ||||||||||||
59 | Government National Mortgage Association, Pool #MA1014 | 4.50 | 5/20/43 | 65 | ||||||||||||
134 | Government National Mortgage Association, Pool #MA1092 | 4.50 | 6/20/43 | 147 | ||||||||||||
194 | Government National Mortgage Association, Pool #737310 | 4.50 | 8/15/40 | 214 | ||||||||||||
73 | Government National Mortgage Association, Pool #738906 | 4.50 | 10/15/41 | 80 | ||||||||||||
403 | Government National Mortgage Association, Pool #004801 | 4.50 | 9/20/40 | 442 | ||||||||||||
99 | Government National Mortgage Association, Pool #721760 | 4.50 | 8/15/40 | 109 | ||||||||||||
25 | Government National Mortgage Association, Pool #727455 | 4.50 | 8/15/41 | 27 | ||||||||||||
49 | Government National Mortgage Association, Pool #748119 | 4.50 | 6/15/41 | 54 | ||||||||||||
36 | Government National Mortgage Association, Pool #MA1451 | 5.00 | 11/20/43 | 39 | ||||||||||||
84 | Government National Mortgage Association, Pool #782523 | 5.00 | 11/15/35 | 93 | ||||||||||||
233 | Government National Mortgage Association, Pool #697946 | 5.00 | 3/15/39 | 258 | ||||||||||||
383 | Government National Mortgage Association, Pool #004559 | 5.00 | 10/20/39 | 427 | ||||||||||||
52 | Government National Mortgage Association, Pool #MA0538 | 5.50 | 11/20/42 | 58 | ||||||||||||
38 | Government National Mortgage Association, Pool #704170 | 5.50 | 1/15/39 | 42 | ||||||||||||
83 | Government National Mortgage Association, Pool #510835 | 5.50 | 2/15/35 | 93 |
See accompanying notes to financial statements.
133
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$52 | Government National Mortgage Association, Pool #MA0466 | 5.50 | 10/20/42 | $ | 58 | |||||||||||
23 | Government National Mortgage Association, Pool #658181 | 5.50 | 11/15/36 | 26 | ||||||||||||
120 | Government National Mortgage Association, Pool #781959 | 6.00 | 7/15/35 | 139 | ||||||||||||
56 | Government National Mortgage Association, Pool #004222 | 6.00 | 8/20/38 | 64 | ||||||||||||
80 | Government National Mortgage Association, Pool #582199 | 6.50 | 1/15/32 | 91 | ||||||||||||
25 | Government National Mortgage Association, 30 YR TBA | 2.50 | 1/15/45 | 25 | ||||||||||||
50 | Government National Mortgage Association, 30 YR TBA | 3.00 | 2/20/45 | 51 | ||||||||||||
25 | Government National Mortgage Association, 30 YR TBA | 3.00 | 2/20/45 | 26 | ||||||||||||
275 | Government National Mortgage Association, 30 YR TBA | 3.50 | 1/20/45 | 289 | ||||||||||||
25 | Government National Mortgage Association, 30 YR TBA | 3.50 | 2/15/45 | 26 | ||||||||||||
25 | Government National Mortgage Association, 30 YR TBA | 4.00 | 2/20/44 | 27 | ||||||||||||
100 | Government National Mortgage Association, 30 YR TBA | 4.00 | 1/20/45 | 107 | ||||||||||||
25 | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/15/45 | 27 | ||||||||||||
Total U.S. Government Agency Mortgages | 31,968 | |||||||||||||||
U.S. Government Agency Securities — 1.93% | ||||||||||||||||
50 | Fannie Mae | 0.75 | 4/20/17 | 50 | ||||||||||||
25 | Fannie Mae | 0.88 | 10/26/17 | 25 | ||||||||||||
60 | Fannie Mae | 0.88 | 5/21/18 | 59 | ||||||||||||
60 | Fannie Mae, Callable 2/23/15 @ 100.00 | 0.95 | 8/23/17 | 60 | ||||||||||||
145 | Fannie Mae, Callable 3/27/15 @ 100.00 | 1.07 | 9/27/17 | 145 | ||||||||||||
45 | Fannie Mae | 1.13 | 4/27/17 | 45 | ||||||||||||
30 | Fannie Mae | 1.25 | 1/30/17 | 30 | ||||||||||||
30 | Fannie Mae | 1.63 | 11/27/18 | 30 | ||||||||||||
55 | Fannie Mae | 1.75 | 9/12/19 | 55 | ||||||||||||
25 | Fannie Mae | 1.88 | 9/18/18 | 25 | ||||||||||||
55 | Fannie Mae (b) | 2.84 | 10/9/19 | 49 | ||||||||||||
20 | Fannie Mae | 5.63 | 7/15/37 | 28 | ||||||||||||
20 | Fannie Mae, Callable 4/18/16 @ 100.00 | 6.00 | 4/18/36 | 21 | ||||||||||||
20 | Fannie Mae | 6.25 | 5/15/29 | 28 | ||||||||||||
25 | Fannie Mae | 7.13 | 1/15/30 | 38 | ||||||||||||
20 | Fannie Mae | 7.25 | 5/15/30 | 31 | ||||||||||||
10 | Federal Farm Credit Bank, Callable 1/16/15 @ 100.00 | 0.54 | 11/7/16 | 10 | ||||||||||||
20 | Federal Farm Credit Bank | 5.13 | 8/25/16 | 21 | ||||||||||||
35 | Federal Home Loan Bank, Series 1 | 1.00 | 6/21/17 | 35 | ||||||||||||
50 | Federal Home Loan Bank | 1.75 | 12/14/18 | 50 | ||||||||||||
25 | Federal Home Loan Bank | 2.13 | 3/10/23 | 24 | ||||||||||||
25 | Federal Home Loan Bank | 3.63 | 3/12/21 | 27 | ||||||||||||
20 | Federal Home Loan Bank | 4.13 | 3/13/20 | 22 | ||||||||||||
95 | Federal Home Loan Bank | 4.75 | 12/16/16 | 103 | ||||||||||||
70 | Federal Home Loan Bank, Series 1069 | 5.00 | 11/17/17 | 78 | ||||||||||||
65 | Federal Home Loan Bank, Series 656 | 5.38 | 5/18/16 | 69 | ||||||||||||
15 | Federal Home Loan Bank | 5.63 | 6/11/21 | 18 | ||||||||||||
50 | Freddie Mac | 0.42 | 9/18/15 | 50 |
See accompanying notes to financial statements.
134
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Securities (continued) | ||||||||||||||||
$70 | Freddie Mac | 0.75 | 1/12/18 | $ | 69 | |||||||||||
65 | Freddie Mac | 1.00 | 7/28/17 | 65 | ||||||||||||
50 | Freddie Mac | 1.00 | 9/29/17 | 50 | ||||||||||||
50 | Freddie Mac | 1.00 | 3/8/17 | 50 | ||||||||||||
25 | Freddie Mac, Callable 1/30/15 @ 100.00 | 1.02 | 4/30/18 | 25 | ||||||||||||
25 | Freddie Mac, Callable 2/28/15 @ 100.00 | 1.03 | 11/28/17 | 25 | ||||||||||||
20 | Freddie Mac, Callable 3/12/15 @ 100.00 | 1.20 | 6/12/18 | 20 | ||||||||||||
25 | Freddie Mac, Callable 3/5/15 @ 100.00 | 1.25 | 12/5/17 | 25 | ||||||||||||
20 | Freddie Mac | 1.25 | 10/2/19 | 20 | ||||||||||||
25 | Freddie Mac | 1.38 | 5/1/20 | 24 | ||||||||||||
20 | Freddie Mac, Callable 6/26/15 @ 100.00 | 1.40 | 8/22/19 | 20 | ||||||||||||
25 | Freddie Mac | 1.75 | 5/30/19 | 25 | ||||||||||||
50 | Freddie Mac | 2.00 | 8/25/16 | 51 | ||||||||||||
65 | Freddie Mac | 2.38 | 1/13/22 | 66 | ||||||||||||
100 | Freddie Mac | 5.25 | 4/18/16 | 106 | ||||||||||||
25 | Freddie Mac | 6.25 | 7/15/32 | 37 | ||||||||||||
5 | Tennessee Valley Authority | 3.50 | 12/15/42 | 5 | ||||||||||||
35 | Tennessee Valley Authority | 5.25 | 9/15/39 | 45 | ||||||||||||
Total U.S. Government Agency Securities | 1,954 | |||||||||||||||
Corporate Bonds — 25.15% | ||||||||||||||||
189 | 3M Co. (Industrial Conglomerates) | 1.38 | 9/29/16 | 191 | ||||||||||||
636 | American Airlines, Series 2013-2, Class A (Airlines) | 4.95 | 1/15/23 | 681 | ||||||||||||
378 | American Express Credit, MTN (Consumer Finance) | 1.75 | 6/12/15 | 380 | ||||||||||||
468 | American International Group, MTN (Insurance) | 5.85 | 1/16/18 | 522 | ||||||||||||
371 | American Tower Corp. (Real Estate Investment Trusts) | 3.50 | 1/31/23 | 358 | ||||||||||||
454 | American Tower Corp. (Real Estate Investment Trusts) | 5.00 | 2/15/24 | 482 | ||||||||||||
93 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | 3.00 | 4/15/16 | 95 | ||||||||||||
585 | Apple, Inc. (Technology Hardware, Storage & Peripherals) | 2.85 | 5/6/21 | 598 | ||||||||||||
330 | Arch Capital Group (U.S.), Inc. (Insurance) | 5.14 | 11/1/43 | 367 | ||||||||||||
405 | AT&T, Inc. (Wireless Telecommunication Services) | 2.38 | 11/27/18 | 409 | ||||||||||||
79 | AT&T, Inc. (Wireless Telecommunication Services), Callable 12/15/44 @ 100.00 | 4.35 | 6/15/45 | 74 | ||||||||||||
299 | Bank of America Corp., Series BKNT (Banks) | 1.25 | 2/14/17 | 298 | ||||||||||||
362 | Bank of America Corp., MTN (Banks) | 1.70 | 8/25/17 | 362 | ||||||||||||
449 | Bank of America Corp. (Banks) | 2.60 | 1/15/19 | 452 | ||||||||||||
251 | Bank of America Corp., MTN (Banks) | 4.25 | 10/22/26 | 250 | ||||||||||||
265 | Barrick NA Finance LLC (Metals & Mining) | 5.75 | 5/1/43 | 263 | ||||||||||||
108 | Becton Dickinson & Co. (Health Care Equipment & Supplies), Callable 6/15/44 @ 100.00 | 4.69 | 12/15/44 | 116 | ||||||||||||
73 | Boardwalk Pipelines LP (Oil, Gas & Consumable Fuels), Callable 9/15/24 @ 100.00 | 4.95 | 12/15/24 | 73 | ||||||||||||
531 | Burlington Northern Santa Fe LLC (Road & Rail), Callable 3/1/44 @ 100.00 | 4.55 | 9/1/44 | 569 | ||||||||||||
470 | CC Holdings GS V LLC (Communications Equipment) | 3.85 | 4/15/23 | 467 | ||||||||||||
157 | Celgene Corp. (Biotechnology), Callable 11/15/43 @ 100.00 | 4.63 | 5/15/44 | 163 |
See accompanying notes to financial statements.
135
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$500 | Cisco Systems, Inc. (Communications Equipment) | 2.13 | 3/1/19 | $ | 502 | |||||||||||
219 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 2/22/16 | 231 | ||||||||||||
678 | Citigroup, Inc. (Banks) | 2.50 | 9/26/18 | 687 | ||||||||||||
388 | Citigroup, Inc. (Banks) | 4.95 | 11/7/43 | 432 | ||||||||||||
210 | Comcast Corp. (Media) | 4.65 | 7/15/42 | 230 | ||||||||||||
367 | Continental Resources, Inc. (Oil, Gas & Consumable Fuels), Callable 3/1/24 @ 100.00 | 3.80 | 6/1/24 | 328 | ||||||||||||
255 | Delphi Corp. (Auto Components), Callable 12/15/23 @ 100.00 | 4.15 | 3/15/24 | 264 | ||||||||||||
154 | Digital Realty Trust LP (Real Estate Investment Trusts), Callable 12/15/20 @ 100.00 | 5.25 | 3/15/21 | 169 | ||||||||||||
373 | Digital Realty Trust LP (Real Estate Investment Trusts) ˆ | 5.88 | 2/1/20 | 417 | ||||||||||||
85 | DIRECTV Holdings LLC (Media), Callable 10/15/24 @ 100.00 | 3.95 | 1/15/25 | 86 | ||||||||||||
139 | Dominion Resources, Inc. (Multi-Utilities) | 1.95 | 8/15/16 | 140 | ||||||||||||
134 | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels), Callable 9/15/43 @ 100.00 | 4.85 | 3/15/44 | 140 | ||||||||||||
309 | ERAC USA Finance Co. (Commercial Services & Supplies) (c) | 5.25 | 10/1/20 | 348 | ||||||||||||
142 | ERAC USA Finance Co. (Commercial Services & Supplies) (c) | 5.60 | 5/1/15 | 144 | ||||||||||||
284 | ERAC USA Finance LLC (Commercial Services & Supplies) (c) | 2.80 | 11/1/18 | 290 | ||||||||||||
270 | Exelon Generation Co. LLC (Independent Power and Renewable Electricity Producers) | 6.20 | 10/1/17 | 300 | ||||||||||||
567 | Ford Motor Credit Co. LLC (Diversified Financial Services) | 5.00 | 5/15/18 | 616 | ||||||||||||
491 | General Electric Capital Corp., Series G, MTN (Diversified Financial Services), Callable 2/13/24 @ 100.00 | 3.45 | 5/15/24 | 507 | ||||||||||||
108 | General Electric Co. (Industrial Conglomerates) | 4.13 | 10/9/42 | 112 | ||||||||||||
162 | General Electric Co. (Industrial Conglomerates) | 5.25 | 12/6/17 | 180 | ||||||||||||
151 | Gilead Sciences, Inc. (Biotechnology), Callable 8/1/44 @ 100.00 | 4.50 | 2/1/45 | 161 | ||||||||||||
229 | Goldman Sachs Group, Inc. (Capital Markets) | 2.55 | 10/23/19 | 228 | ||||||||||||
291 | Goldman Sachs Group, Inc. (Capital Markets) | 2.63 | 1/31/19 | 293 | ||||||||||||
186 | HSBC USA, Inc. (Banks) | 2.38 | 11/13/19 | 186 | ||||||||||||
220 | Intel Corp. (Semiconductors & Semiconductor Equipment) | 1.95 | 10/1/16 | 224 | ||||||||||||
486 | JPMorgan Chase & Co. (Banks) | 4.13 | 12/15/26 | 486 | ||||||||||||
438 | JPMorgan Chase & Co., Series V (Banks), Callable 7/1/19 @ 100.00, Perpetual Bond (d) | 5.00 | — | 429 | ||||||||||||
658 | Kinder Morgan Energy Partners LP (Oil, Gas & Consumable Fuels), Callable 2/15/42 @ 100.00 | 5.00 | 8/15/42 | 625 | ||||||||||||
226 | Kohl's Corp. (Multiline Retail) | 6.88 | 12/15/37 | 285 | ||||||||||||
375 | L-3 Communications Corp. (Aerospace & Defense), Callable 2/28/24 @ 100.00 | 3.95 | 5/28/24 | 378 | ||||||||||||
544 | Lazard Group LLC (Diversified Financial Services) | 4.25 | 11/14/20 | 573 | ||||||||||||
359 | Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels), Callable 3/15/54 @ 100.00 | 5.00 | 9/15/54 | 338 | ||||||||||||
290 | MassMutual Global Funding LLC (Diversified Financial Services) (c) | 2.00 | 4/5/17 | 294 | ||||||||||||
89 | Medtronic, Inc. (Health Care Equipment & Supplies) (c) | 3.50 | 3/15/25 | 91 | ||||||||||||
229 | Medtronic, Inc. (Health Care Equipment & Supplies) (c) | 4.63 | 3/15/45 | 249 | ||||||||||||
131 | MidAmerican Energy Holdings Co. (Multi-Utilities) | 6.13 | 4/1/36 | 165 |
See accompanying notes to financial statements.
136
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$541 | Morgan Stanley (Capital Markets) | 3.70 | 10/23/24 | $ | 549 | |||||||||||
315 | Morgan Stanley, Series F (Capital Markets) | 3.88 | 4/29/24 | 323 | ||||||||||||
213 | Newmont Mining Corp. (Metals & Mining) | 6.25 | 10/1/39 | 216 | ||||||||||||
158 | Pacific Gas & Electric Co. (Electric Utilities), Callable 5/15/43 @ 100.00 | 5.13 | 11/15/43 | 181 | ||||||||||||
26 | Private Export Funding Corp. (Diversified Financial Services) | 2.13 | 7/15/16 | 27 | ||||||||||||
169 | Reinsurance Group of America, Inc. (Insurance) | 4.70 | 9/15/23 | 182 | ||||||||||||
818 | Roche Holding, Inc. (Pharmaceuticals), Callable 8/30/19 @ 100.00 (c) | 2.25 | 9/30/19 | 823 | ||||||||||||
455 | Sabmiller Holdings, Inc. (Beverages) (c) | 2.45 | 1/15/17 | 464 | ||||||||||||
282 | Teva Pharmaceutical Finance Co. LLC (Pharmaceuticals) | 6.15 | 2/1/36 | 349 | ||||||||||||
275 | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), Callable 8/1/43 @ 100.00 | 5.30 | 2/1/44 | 316 | ||||||||||||
67 | TIAA Asset Management Finance Co. LLC (Insurance) (c) | 2.95 | 11/1/19 | 67 | ||||||||||||
198 | TIAA Asset Management Finance Co. LLC (Insurance) (c) | 4.13 | 11/1/24 | 203 | ||||||||||||
116 | Time Warner Cable, Inc. (Media), Callable 3/15/42 @ 100.00 | 4.50 | 9/15/42 | 119 | ||||||||||||
321 | U.S. Bancorp, MTN (Banks), Callable 8/11/24 @ 100.00 | 3.60 | 9/11/24 | 326 | ||||||||||||
505 | U.S. Bank NA, Series BKNT (Banks), Callable 12/30/16 @ 100.00 | 1.10 | 1/30/17 | 506 | ||||||||||||
154 | Union Pacific Corp. (Road & Rail), Callable 7/15/44 @ 100.00 | 4.15 | 1/15/45 | 161 | ||||||||||||
450 | United Airlines Pass Through Trust, Series 2014-1, Class A (Airlines) | 4.00 | 10/11/27 | 457 | ||||||||||||
102 | UnitedHealth Group, Inc. (Health Care Providers & Services), Callable 9/15/42 @ 100.00 | 4.25 | 3/15/43 | 107 | ||||||||||||
970 | Verizon Communications, Inc. (Diversified Telecommunication Services) (c) | 5.01 | 8/21/54 | 1,003 | ||||||||||||
790 | Wal-Mart Stores, Inc. (Food & Staples Retailing) | 1.95 | 12/15/18 | 800 | ||||||||||||
Total Corporate Bonds | 25,477 | |||||||||||||||
U.S. Treasury Obligations — 20.73% | ||||||||||||||||
68 | U.S. Treasury Bond | 2.75 | 8/15/42 | 68 | ||||||||||||
109 | U.S. Treasury Bond | 2.75 | 11/15/42 | 109 | ||||||||||||
150 | U.S. Treasury Bond | 2.88 | 5/15/43 | 153 | ||||||||||||
90 | U.S. Treasury Bond | 3.00 | 11/15/44 | 95 | ||||||||||||
24 | U.S. Treasury Bond | 3.00 | 5/15/42 | 25 | ||||||||||||
150 | U.S. Treasury Bond | 3.13 | 8/15/44 | 161 | ||||||||||||
104 | U.S. Treasury Bond | 3.13 | 11/15/41 | 112 | ||||||||||||
120 | U.S. Treasury Bond | 3.13 | 2/15/43 | 129 | ||||||||||||
112 | U.S. Treasury Bond | 3.13 | 2/15/42 | 121 | ||||||||||||
165 | U.S. Treasury Bond | 3.38 | 5/15/44 | 186 | ||||||||||||
40 | U.S. Treasury Bond | 3.50 | 2/15/39 | 46 | ||||||||||||
125 | U.S. Treasury Bond | 3.63 | 2/15/44 | 147 | ||||||||||||
40 | U.S. Treasury Bond | 3.63 | 8/15/43 | 47 | ||||||||||||
43 | U.S. Treasury Bond | 3.75 | 8/15/41 | 52 | ||||||||||||
85 | U.S. Treasury Bond | 3.75 | 11/15/43 | 102 | ||||||||||||
75 | U.S. Treasury Bond | 3.88 | 8/15/40 | 92 | ||||||||||||
24 | U.S. Treasury Bond | 4.25 | 5/15/39 | 31 | ||||||||||||
60 | U.S. Treasury Bond | 4.25 | 11/15/40 | 78 | ||||||||||||
65 | U.S. Treasury Bond | 4.38 | 5/15/41 | 86 |
See accompanying notes to financial statements.
137
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$70 | U.S. Treasury Bond | 4.38 | 11/15/39 | $ | 92 | |||||||||||
70 | U.S. Treasury Bond | 4.38 | 5/15/40 | 92 | ||||||||||||
55 | U.S. Treasury Bond | 4.50 | 8/15/39 | 73 | ||||||||||||
35 | U.S. Treasury Bond | 4.50 | 2/15/36 | 47 | ||||||||||||
100 | U.S. Treasury Bond | 4.63 | 2/15/40 | 136 | ||||||||||||
70 | U.S. Treasury Bond | 4.75 | 2/15/41 | 98 | ||||||||||||
30 | U.S. Treasury Bond | 5.25 | 11/15/28 | 40 | ||||||||||||
40 | U.S. Treasury Bond | 5.38 | 2/15/31 | 56 | ||||||||||||
30 | U.S. Treasury Bond | 5.50 | 8/15/28 | 41 | ||||||||||||
61 | U.S. Treasury Bond | 6.00 | 2/15/26 | 84 | ||||||||||||
35 | U.S. Treasury Bond | 6.13 | 11/15/27 | 50 | ||||||||||||
65 | U.S. Treasury Bond | 6.25 | 5/15/30 | 97 | ||||||||||||
40 | U.S. Treasury Bond | 6.50 | 11/15/26 | 58 | ||||||||||||
40 | U.S. Treasury Bond | 6.75 | 8/15/26 | 58 | ||||||||||||
50 | U.S. Treasury Bond | 6.88 | 8/15/25 | 72 | ||||||||||||
25 | U.S. Treasury Bond | 7.25 | 5/15/16 | 27 | ||||||||||||
17 | U.S. Treasury Bond | 7.50 | 11/15/24 | 25 | ||||||||||||
95 | U.S. Treasury Bond | 7.50 | 11/15/16 | 107 | ||||||||||||
15 | U.S. Treasury Bond | 7.63 | 2/15/25 | 22 | ||||||||||||
40 | U.S. Treasury Bond | 8.00 | 11/15/21 | 56 | ||||||||||||
35 | U.S. Treasury Bond | 8.13 | 8/15/19 | 45 | ||||||||||||
90 | U.S. Treasury Note | 0.25 | 4/15/16 | 90 | ||||||||||||
150 | U.S. Treasury Note | 0.25 | 2/29/16 | 150 | ||||||||||||
116 | U.S. Treasury Note | 0.25 | 5/15/16 | 116 | ||||||||||||
160 | U.S. Treasury Note | 0.38 | 5/31/16 | 160 | ||||||||||||
78 | U.S. Treasury Note | 0.38 | 2/15/16 | 78 | ||||||||||||
85 | U.S. Treasury Note | 0.38 | 1/15/16 | 85 | ||||||||||||
150 | U.S. Treasury Note | 0.38 | 10/31/16 | 149 | ||||||||||||
100 | U.S. Treasury Note | 0.38 | 1/31/16 | 100 | ||||||||||||
95 | U.S. Treasury Note | 0.38 | 4/30/16 | 95 | ||||||||||||
168 | U.S. Treasury Note | 0.38 | 3/15/16 | 168 | ||||||||||||
120 | U.S. Treasury Note | 0.38 | 3/31/16 | 120 | ||||||||||||
100 | U.S. Treasury Note | 0.50 | 9/30/16 | 100 | ||||||||||||
95 | U.S. Treasury Note | 0.50 | 8/31/16 | 95 | ||||||||||||
155 | U.S. Treasury Note | 0.50 | 7/31/17 | 153 | ||||||||||||
80 | U.S. Treasury Note | 0.50 | 6/15/16 | 80 | ||||||||||||
100 | U.S. Treasury Note | 0.50 | 11/30/16 | 100 | ||||||||||||
105 | U.S. Treasury Note | 0.50 | 6/30/16 | 105 | ||||||||||||
120 | U.S. Treasury Note | 0.50 | 7/31/16 | 120 | ||||||||||||
120 | U.S. Treasury Note | 0.63 | 4/30/18 | 118 | ||||||||||||
82 | U.S. Treasury Note | 0.63 | 10/15/16 | 82 | ||||||||||||
108 | U.S. Treasury Note | 0.63 | 11/15/16 | 108 | ||||||||||||
171 | U.S. Treasury Note | 0.63 | 7/15/16 | 171 |
See accompanying notes to financial statements.
138
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$45 | U.S. Treasury Note | 0.63 | 12/31/16 | $ | 45 | |||||||||||
180 | U.S. Treasury Note | 0.63 | 8/31/17 | 178 | ||||||||||||
85 | U.S. Treasury Note | 0.63 | 5/31/17 | 85 | ||||||||||||
108 | U.S. Treasury Note | 0.63 | 12/15/16 | 108 | ||||||||||||
75 | U.S. Treasury Note | 0.63 | 11/30/17 | 74 | ||||||||||||
180 | U.S. Treasury Note | 0.63 | 8/15/16 | 180 | ||||||||||||
29 | U.S. Treasury Note | 0.63 | 9/30/17 | 29 | ||||||||||||
112 | U.S. Treasury Note | 0.75 | 3/15/17 | 112 | ||||||||||||
140 | U.S. Treasury Note | 0.75 | 2/28/18 | 138 | ||||||||||||
50 | U.S. Treasury Note | 0.75 | 3/31/18 | 49 | ||||||||||||
65 | U.S. Treasury Note | 0.75 | 1/15/17 | 65 | ||||||||||||
20 | U.S. Treasury Note | 0.75 | 10/31/17 | 20 | ||||||||||||
68 | U.S. Treasury Note | 0.75 | 6/30/17 | 68 | ||||||||||||
78 | U.S. Treasury Note | 0.75 | 12/31/17 | 77 | ||||||||||||
155 | U.S. Treasury Note | 0.88 | 5/15/17 | 155 | ||||||||||||
95 | U.S. Treasury Note | 0.88 | 7/15/17 | 95 | ||||||||||||
45 | U.S. Treasury Note | 0.88 | 7/31/19 | 44 | ||||||||||||
90 | U.S. Treasury Note | 0.88 | 8/15/17 | 90 | ||||||||||||
90 | U.S. Treasury Note | 0.88 | 11/15/17 | 90 | ||||||||||||
110 | U.S. Treasury Note | 0.88 | 4/15/17 | 110 | ||||||||||||
91 | U.S. Treasury Note | 0.88 | 1/31/18 | 90 | ||||||||||||
77 | U.S. Treasury Note | 0.88 | 11/30/16 | 77 | ||||||||||||
85 | U.S. Treasury Note | 0.88 | 9/15/16 | 85 | ||||||||||||
145 | U.S. Treasury Note | 0.88 | 4/30/17 | 145 | ||||||||||||
70 | U.S. Treasury Note | 0.88 | 2/28/17 | 70 | ||||||||||||
150 | U.S. Treasury Note | 0.88 | 1/31/17 | 150 | ||||||||||||
50 | U.S. Treasury Note | 0.88 | 10/15/17 | 50 | ||||||||||||
202 | U.S. Treasury Note | 0.88 | 12/31/16 | 203 | ||||||||||||
10 | U.S. Treasury Note | 1.00 | 9/30/16 | 10 | ||||||||||||
12 | U.S. Treasury Note | 1.00 | 10/31/16 | 12 | ||||||||||||
154 | U.S. Treasury Note | 1.00 | 8/31/16 | 155 | ||||||||||||
144 | U.S. Treasury Note | 1.00 | 5/31/18 | 143 | ||||||||||||
85 | U.S. Treasury Note | 1.00 | 12/15/17 | 85 | ||||||||||||
20 | U.S. Treasury Note | 1.00 | 6/30/19 | 20 | ||||||||||||
135 | U.S. Treasury Note | 1.00 | 3/31/17 | 136 | ||||||||||||
100 | U.S. Treasury Note | 1.00 | 9/30/19 | 97 | ||||||||||||
17 | U.S. Treasury Note | 1.00 | 8/31/19 | 17 | ||||||||||||
95 | U.S. Treasury Note | 1.00 | 9/15/17 | 95 | ||||||||||||
85 | U.S. Treasury Note | 1.00 | 11/30/19 | 82 | ||||||||||||
100 | U.S. Treasury Note | 1.13 | 4/30/20 | 97 | ||||||||||||
60 | U.S. Treasury Note | 1.13 | 12/31/19 | 59 | ||||||||||||
100 | U.S. Treasury Note | 1.25 | 2/29/20 | 98 | ||||||||||||
50 | U.S. Treasury Note | 1.25 | 10/31/19 | 49 |
See accompanying notes to financial statements.
139
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$65 | U.S. Treasury Note | 1.25 | 1/31/19 | $ | 64 | |||||||||||
150 | U.S. Treasury Note | 1.25 | 10/31/18 | 149 | ||||||||||||
104 | U.S. Treasury Note | 1.25 | 4/30/19 | 103 | ||||||||||||
155 | U.S. Treasury Note | 1.25 | 11/30/18 | 154 | ||||||||||||
50 | U.S. Treasury Note | 1.38 | 7/31/18 | 50 | ||||||||||||
50 | U.S. Treasury Note | 1.38 | 6/30/18 | 50 | ||||||||||||
135 | U.S. Treasury Note | 1.38 | 9/30/18 | 135 | ||||||||||||
75 | U.S. Treasury Note | 1.38 | 11/30/18 | 75 | ||||||||||||
100 | U.S. Treasury Note | 1.38 | 2/28/19 | 99 | ||||||||||||
20 | U.S. Treasury Note | 1.38 | 5/31/20 | 20 | ||||||||||||
40 | U.S. Treasury Note | 1.38 | 1/31/20 | 39 | ||||||||||||
51 | U.S. Treasury Note | 1.38 | 12/31/18 | 51 | ||||||||||||
160 | U.S. Treasury Note | 1.50 | 10/31/19 | 159 | ||||||||||||
131 | U.S. Treasury Note | 1.50 | 2/28/19 | 131 | ||||||||||||
80 | U.S. Treasury Note | 1.50 | 11/30/19 | 79 | ||||||||||||
139 | U.S. Treasury Note | 1.50 | 6/30/16 | 141 | ||||||||||||
160 | U.S. Treasury Note | 1.50 | 12/31/18 | 160 | ||||||||||||
150 | U.S. Treasury Note | 1.50 | 1/31/19 | 150 | ||||||||||||
120 | U.S. Treasury Note | 1.50 | 5/31/19 | 120 | ||||||||||||
205 | U.S. Treasury Note | 1.50 | 8/31/18 | 206 | ||||||||||||
155 | U.S. Treasury Note | 1.50 | 7/31/16 | 157 | ||||||||||||
120 | U.S. Treasury Note | 1.63 | 8/31/19 | 120 | ||||||||||||
85 | U.S. Treasury Note | 1.63 | 6/30/19 | 85 | ||||||||||||
160 | U.S. Treasury Note | 1.63 | 12/31/19 | 160 | ||||||||||||
130 | U.S. Treasury Note | 1.63 | 4/30/19 | 130 | ||||||||||||
81 | U.S. Treasury Note | 1.63 | 8/15/22 | 79 | ||||||||||||
117 | U.S. Treasury Note | 1.63 | 11/15/22 | 113 | ||||||||||||
130 | U.S. Treasury Note | 1.63 | 3/31/19 | 131 | ||||||||||||
125 | U.S. Treasury Note | 1.63 | 7/31/19 | 125 | ||||||||||||
110 | U.S. Treasury Note | 1.75 | 5/15/22 | 108 | ||||||||||||
120 | U.S. Treasury Note | 1.75 | 9/30/19 | 121 | ||||||||||||
65 | U.S. Treasury Note | 1.75 | 10/31/20 | 65 | ||||||||||||
174 | U.S. Treasury Note | 1.75 | 5/15/23 | 169 | ||||||||||||
130 | U.S. Treasury Note | 1.75 | 5/31/16 | 132 | ||||||||||||
40 | U.S. Treasury Note | 1.75 | 10/31/18 | 41 | ||||||||||||
150 | U.S. Treasury Note | 1.88 | 10/31/17 | 154 | ||||||||||||
59 | U.S. Treasury Note | 1.88 | 6/30/20 | 59 | ||||||||||||
100 | U.S. Treasury Note | 1.88 | 11/30/21 | 99 | ||||||||||||
55 | U.S. Treasury Note | 1.88 | 9/30/17 | 56 | ||||||||||||
75 | U.S. Treasury Note | 1.88 | 8/31/17 | 77 | ||||||||||||
110 | U.S. Treasury Note | 2.00 | 9/30/20 | 111 | ||||||||||||
98 | U.S. Treasury Note | 2.00 | 4/30/16 | 100 | ||||||||||||
100 | U.S. Treasury Note | 2.00 | 5/31/21 | 101 |
See accompanying notes to financial statements.
140
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$120 | U.S. Treasury Note | 2.00 | 2/15/22 | $ | 120 | |||||||||||
130 | U.S. Treasury Note | 2.00 | 2/28/21 | 131 | ||||||||||||
70 | U.S. Treasury Note | 2.00 | 11/15/21 | 70 | ||||||||||||
129 | U.S. Treasury Note | 2.00 | 1/31/16 | 131 | ||||||||||||
60 | U.S. Treasury Note | 2.00 | 11/30/20 | 61 | ||||||||||||
190 | U.S. Treasury Note | 2.00 | 2/15/23 | 189 | ||||||||||||
95 | U.S. Treasury Note | 2.00 | 8/31/21 | 95 | ||||||||||||
95 | U.S. Treasury Note | 2.00 | 10/31/21 | 95 | ||||||||||||
5 | U.S. Treasury Note | 2.13 | 8/31/20 | 5 | ||||||||||||
105 | U.S. Treasury Note | 2.13 | 1/31/21 | 107 | ||||||||||||
100 | U.S. Treasury Note | 2.13 | 9/30/21 | 101 | ||||||||||||
125 | U.S. Treasury Note | 2.13 | 6/30/21 | 127 | ||||||||||||
95 | U.S. Treasury Note | 2.13 | 12/31/21 | 96 | ||||||||||||
134 | U.S. Treasury Note | 2.13 | 8/15/21 | 136 | ||||||||||||
108 | U.S. Treasury Note | 2.25 | 3/31/21 | 110 | ||||||||||||
125 | U.S. Treasury Note | 2.25 | 11/30/17 | 129 | ||||||||||||
105 | U.S. Treasury Note | 2.25 | 4/30/21 | 107 | ||||||||||||
81 | U.S. Treasury Note | 2.25 | 3/31/16 | 83 | ||||||||||||
170 | U.S. Treasury Note | 2.25 | 11/15/24 | 171 | ||||||||||||
100 | U.S. Treasury Note | 2.25 | 7/31/21 | 102 | ||||||||||||
135 | U.S. Treasury Note | 2.38 | 7/31/17 | 140 | ||||||||||||
110 | U.S. Treasury Note | 2.38 | 12/31/20 | 113 | ||||||||||||
125 | U.S. Treasury Note | 2.38 | 8/15/24 | 127 | ||||||||||||
115 | U.S. Treasury Note | 2.50 | 8/15/23 | 119 | ||||||||||||
50 | U.S. Treasury Note | 2.50 | 6/30/17 | 52 | ||||||||||||
255 | U.S. Treasury Note | 2.50 | 5/15/24 | 264 | ||||||||||||
224 | U.S. Treasury Note | 2.63 | 11/15/20 | 234 | ||||||||||||
65 | U.S. Treasury Note | 2.63 | 4/30/18 | 68 | ||||||||||||
115 | U.S. Treasury Note | 2.63 | 8/15/20 | 120 | ||||||||||||
100 | U.S. Treasury Note | 2.75 | 2/28/18 | 105 | ||||||||||||
95 | U.S. Treasury Note | 2.75 | 2/15/24 | 100 | ||||||||||||
236 | U.S. Treasury Note | 2.75 | 11/15/23 | 248 | ||||||||||||
85 | U.S. Treasury Note | 2.75 | 2/15/19 | 89 | ||||||||||||
127 | U.S. Treasury Note | 2.75 | 12/31/17 | 133 | ||||||||||||
60 | U.S. Treasury Note | 2.75 | 11/30/16 | 62 | ||||||||||||
9 | U.S. Treasury Note | 2.75 | 5/31/17 | 9 | ||||||||||||
123 | U.S. Treasury Note | 3.00 | 9/30/16 | 128 | ||||||||||||
89 | U.S. Treasury Note | 3.00 | 8/31/16 | 93 | ||||||||||||
50 | U.S. Treasury Note | 3.00 | 2/28/17 | 52 | ||||||||||||
100 | U.S. Treasury Note | 3.13 | 10/31/16 | 105 | ||||||||||||
61 | U.S. Treasury Note | 3.13 | 5/15/19 | 65 | ||||||||||||
100 | U.S. Treasury Note | 3.13 | 1/31/17 | 105 | ||||||||||||
113 | U.S. Treasury Note | 3.13 | 4/30/17 | 119 |
See accompanying notes to financial statements.
141
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$104 | U.S. Treasury Note | 3.13 | 5/15/21 | $ | 112 | |||||||||||
79 | U.S. Treasury Note | 3.25 | 6/30/16 | 82 | ||||||||||||
85 | U.S. Treasury Note | 3.25 | 12/31/16 | 89 | ||||||||||||
83 | U.S. Treasury Note | 3.25 | 7/31/16 | 87 | ||||||||||||
85 | U.S. Treasury Note | 3.25 | 3/31/17 | 90 | ||||||||||||
121 | U.S. Treasury Note | 3.38 | 11/15/19 | 131 | ||||||||||||
120 | U.S. Treasury Note | 3.50 | 5/15/20 | 131 | ||||||||||||
100 | U.S. Treasury Note | 3.50 | 2/15/18 | 107 | ||||||||||||
50 | U.S. Treasury Note | 3.63 | 8/15/19 | 55 | ||||||||||||
190 | U.S. Treasury Note | 3.63 | 2/15/20 | 208 | ||||||||||||
185 | U.S. Treasury Note | 3.63 | 2/15/21 | 204 | ||||||||||||
60 | U.S. Treasury Note | 3.75 | 11/15/18 | 65 | ||||||||||||
50 | U.S. Treasury Note | 3.88 | 5/15/18 | 54 | ||||||||||||
30 | U.S. Treasury Note | 4.00 | 8/15/18 | 33 | ||||||||||||
75 | U.S. Treasury Note | 4.25 | 11/15/17 | 82 | ||||||||||||
110 | U.S. Treasury Note | 4.50 | 2/15/16 | 115 | ||||||||||||
100 | U.S. Treasury Note | 4.50 | 5/15/17 | 109 | ||||||||||||
50 | U.S. Treasury Note | 4.63 | 2/15/17 | 54 | ||||||||||||
70 | U.S. Treasury Note | 4.75 | 8/15/17 | 77 | ||||||||||||
70 | U.S. Treasury Note | 4.88 | 8/15/16 | 75 | ||||||||||||
Total U.S. Treasury Obligations | 21,000 | |||||||||||||||
Yankee Dollars — 4.52% | ||||||||||||||||
207 | AXIS Specialty Finance PLC (Insurance) | 5.15 | 4/1/45 | 224 | ||||||||||||
229 | Barrick (PD) Australia Finance Pty Ltd. (Metals & Mining) | 5.95 | 10/15/39 | 219 | ||||||||||||
207 | Barrick International (Barbados) Corp. (Metals & Mining) (c) | 6.35 | 10/15/36 | 211 | ||||||||||||
353 | BP Capital Markets PLC (Oil, Gas & Consumable Fuels) | 2.25 | 11/1/16 | 360 | ||||||||||||
283 | Credit Suisse NY (Capital Markets) | 3.63 | 9/9/24 | 288 | ||||||||||||
210 | Ensco PLC (Energy Equipment & Services), Callable 4/1/44 @ 100.00 ˆ | 5.75 | 10/1/44 | 211 | ||||||||||||
124 | Fairfax Financial Holdings Ltd. (Insurance) (c) | 5.80 | 5/15/21 | 133 | ||||||||||||
381 | Japan Tobacco, Inc. (Tobacco) (c) | 2.10 | 7/23/18 | 384 | ||||||||||||
356 | TSMC Global Ltd. (Semiconductors & Semiconductor Equipment) (c) | 1.63 | 4/3/18 | 349 | ||||||||||||
489 | UBS AG (Capital Markets) | 2.38 | 8/14/19 | 489 | ||||||||||||
354 | Volkswagen International Finance NV (Automobiles) (c) | 2.38 | 3/22/17 | 361 | ||||||||||||
91 | Weatherford Bermuda Holdings Ltd. (Energy Equipment & Services) | 5.13 | 9/15/20 | 89 | ||||||||||||
223 | Weatherford Bermuda Holdings Ltd. (Energy Equipment & Services), Callable 10/17/41 @ 100.00 | 5.95 | 4/15/42 | 189 | ||||||||||||
334 | Weatherford International Ltd. (Energy Equipment & Services) | 6.50 | 8/1/36 | 306 | ||||||||||||
283 | Wesfarmers Ltd. (Food & Staples Retailing) (c) | 1.87 | 3/20/18 | 282 | ||||||||||||
452 | Woodside Finance Ltd. (Oil, Gas & Consumable Fuels), Callable 2/10/21 @ 100.00 (c) | 4.60 | 5/10/21 | 482 | ||||||||||||
Total Yankee Dollars | 4,577 | |||||||||||||||
Time Deposit — 0.03% | ||||||||||||||||
32 | State Street Liquidity Management Control System Eurodollar Time Deposit | 0.01 | 1/2/15 | 32 | ||||||||||||
Total Time Deposit | 32 |
See accompanying notes to financial statements.
142
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Mutual Funds — 16.54% | ||||||||||||||||
13,195,434 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares (e) | 0.00 | $ | 13,195 | ||||||||||||
3,213,552 | SSgA Treasury Money Market Fund (e) | 0.00 | 3,214 | |||||||||||||
349,541 | SSgA U.S. Government Money Market Fund (e) | 0.00 | 350 | |||||||||||||
Total Mutual Funds | 16,759 | |||||||||||||||
Total Investments Before TBA Sale Commitments (cost $103,009) — 103.24% | 104,573 | |||||||||||||||
TBA Sale Commitments (f) — (0.53)% | ||||||||||||||||
$(115) | Fannie Mae, 15 YR TBA | 4.50 | 1/25/30 | (121 | ) | |||||||||||
(50) | Freddie Mac, Gold 15 YR TBA | 4.50 | 1/15/30 | (53 | ) | |||||||||||
(100) | Freddie Mac, Gold 30 YR TBA | 5.50 | 1/15/44 | (112 | ) | |||||||||||
(50) | Government National Mortgage Association, 30 YR TBA | 2.50 | 1/20/45 | (49 | ) | |||||||||||
(25) | Government National Mortgage Association, 30 YR TBA | 3.00 | 2/15/45 | (26 | ) | |||||||||||
(100) | Government National Mortgage Association, 30 YR TBA | 5.00 | 1/15/45 | (110 | ) | |||||||||||
(50) | Government National Mortgage Association, 30 YR TBA | 5.50 | 1/15/45 | (56 | ) | |||||||||||
Total TBA Sale Commitments | (527 | ) | ||||||||||||||
Liabilities in excess of other assets — (2.71)% | (2,746 | ) | ||||||||||||||
Net Assets — 100.00% | $ | 101,300 |
ˆ | All or part of this security was on loan as of December 31, 2014. The total value of securities on loan as of December 31, 2014, was $591 (amount in thousands). |
(a) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2014. |
(b) | Rate disclosed represents effective yield at purchase. |
(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) | A perpetual bond is one with no maturity date that pays a fixed interest rate forever. |
(e) | The rate disclosed is the rate in effect on December 31, 2014. |
(f) | 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
The following table reflects the percentage of 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 Corporation | Seix Investment Advisors LLC | HC Capital Solutions | Total | ||||||||||||
Asset Backed Securities | 0.52 | % | — | — | 0.52 | % | ||||||||||
Collateralized Mortgage Obligations | 2.25 | % | — | — | 2.25 | % | ||||||||||
U.S. Government Agency Mortgages | 31.57 | % | — | — | 31.57 | % | ||||||||||
U.S. Government Agency Securities | 1.93 | % | — | — | 1.93 | % | ||||||||||
Corporate Bonds | 0.03 | % | 25.12 | % | — | 25.15 | % | |||||||||
U.S. Treasury Obligations | 20.73 | % | — | — | 20.73 | % | ||||||||||
Yankee Dollars | — | 4.52 | % | — | 4.52 | % | ||||||||||
Time Deposit | 0.03 | % | — | — | 0.03 | % | ||||||||||
Mutual Funds | 3.17 | % | 0.35 | % | 13.02 | % | 16.54 | % | ||||||||
Other Assets (Liablities) | -3.52 | % | 0.28 | % | — | -3.24 | % | |||||||||
Total Net Assets | 56.71 | % | 30.27 | % | 13.02 | % | 100.00 | % |
See accompanying notes to financial statements.
143
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Asset Backed Security — 0.72% | ||||||||||||||||
$4,700 | Magnus-Relda Holding Vier GmbH, Series 1A, Class JNR (a) | 7.00 | 10/28/24 | $ | 5,660 | |||||||||||
Total Asset Backed Security | 5,660 | |||||||||||||||
Collateralized Mortgage Obligations — 6.97% | ||||||||||||||||
6,000 | Banc of America Merrill Lynch Mezzanine Securities Trust, Series 2014-INMZ, Class MZB (a)(b)(c) | 8.65 | 12/15/19 | 6,002 | ||||||||||||
8,000 | BLCP Hotel Trust, Series 2014-CLMZ, Class M (a)(b) | 5.89 | 8/15/29 | 7,948 | ||||||||||||
2,000 | Carefree Portfolio Trust, Series 2014-CMZA, Class MZA (a)(b)(c) | 6.13 | 11/15/29 | 2,000 | ||||||||||||
6,000 | Carefree Portfolio Trust, Series 2014-CMZB, Class MZB (a)(b)(c) | 7.88 | 11/15/29 | 6,000 | ||||||||||||
350 | Commercial Mortgage Trust, Series 2013-CR13, Class E (a)(b) | 4.76 | 12/10/23 | 304 | ||||||||||||
420 | Commercial Mortgage Trust, Series 2013-CR12, Class E (a)(b) | 5.09 | 10/10/46 | 373 | ||||||||||||
3,000 | Credit Suisse European Mortgage Capital Trust, Series 2014-1MGN, Class B (a)(b) | 7.16 | 7/20/22 | 3,630 | ||||||||||||
6,000 | Credit Suisse Mortgage Trust, Series 2014-TIKI, Class F (a)(b) | 3.98 | 9/15/38 | 6,000 | ||||||||||||
600 | Goldman Sachs Mortgage Securities Trust, Series 2013-GC14, Class F (a)(b) | 4.77 | 8/10/46 | 511 | ||||||||||||
6,000 | Hyatt Hotel Portfolio Trust, Series 2014-HYMZ, Class M (a)(b)(c) | 6.39 | 11/15/19 | 5,995 | ||||||||||||
3,900 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2014-CBMZ, Class M (a)(b) | 6.38 | 10/15/29 | 3,908 | ||||||||||||
4,600 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2014-INMZ, Class M (a)(b) | 6.39 | 6/15/29 | 4,603 | ||||||||||||
390 | Morgan Stanley BAML Trust, Series 2013-C10, Class G (a)(b) | 4.08 | 7/15/46 | 318 | ||||||||||||
4,726 | UBS - Barclays Commercial Mortgage Trust, Series 2012-C2, Class G (a)(b) | 4.89 | 5/10/63 | 2,764 | ||||||||||||
8,192 | UBS - Barclays Commercial Mortgage Trust, Series 2012-C2, Class H (a)(b) | 5.00 | 5/10/63 | 4,195 | ||||||||||||
510 | Wells Fargo Commercial Mortgage Trust, Series 2013-LC12, Class E (a) | 3.50 | 7/15/46 | 393 | ||||||||||||
Total Collateralized Mortgage Obligations | 54,944 | |||||||||||||||
Corporate Bonds — 63.01% | ||||||||||||||||
1,500 | Acadia Healthcare Co., Inc. (Health Care Providers & Services), Callable 7/1/17 @ 103.84 | 5.13 | 7/1/22 | 1,478 | ||||||||||||
2,443 | Activision Blizzard, Inc. (Software), Callable 9/15/16 @ 104.22 (a) | 5.63 | 9/15/21 | 2,565 | ||||||||||||
541 | Activision Blizzard, Inc. (Software) | 6.13 | 9/15/23 | 583 | ||||||||||||
3,708 | Aleris International, Inc. (Metals & Mining), Callable 2/17/15 @ 103.81 | 7.63 | 2/15/18 | 3,726 | ||||||||||||
1,279 | Aleris International, Inc. (Metals & Mining), Callable 11/1/15 @ 106.00 | 7.88 | 11/1/20 | 1,273 | ||||||||||||
1,609 | Allegion US Holding Co., Inc. (Household Durables), Callable 10/1/16 @ 104.31 | 5.75 | 10/1/21 | 1,702 | ||||||||||||
2,069 | Alliant Techsystems, Inc. (Aerospace & Defense), Callable 10/1/16 @ 103.94 (a) | 5.25 | 10/1/21 | 2,085 | ||||||||||||
2,624 | Ally Financial, Inc. (Consumer Finance) | 8.00 | 11/1/31 | 3,339 | ||||||||||||
6,634 | AMC Networks, Inc. (Media), Callable 7/15/16 @ 104.00 | 7.75 | 7/15/21 | 7,099 | ||||||||||||
500 | AmerenEnergy Generating Co., Series H (Independent Power and Renewable Electricity Producers) | 7.00 | 4/15/18 | 440 | ||||||||||||
2,609 | American Airlines Pass-Through Trust, Series 2013-2, Class B (Airlines) | 5.60 | 7/15/20 | 2,662 | ||||||||||||
555 | American Airlines Pass-Through Trust, Class B (Airlines) | 5.63 | 1/15/21 | 566 | ||||||||||||
3,832 | American Axle & Manufacturing, Inc. (Auto Components), Callable 3/15/16 @ 105.00 | 6.25 | 3/15/21 | 4,023 | ||||||||||||
3,844 | Amsted Industries, Inc. (Machinery), Callable 3/15/18 @ 103.00 (a) | 5.00 | 3/15/22 | 3,777 | ||||||||||||
393 | Amsted Industries, Inc. (Machinery), Callable 9/15/19 @ 102.69 | 5.38 | 9/15/24 | 382 | ||||||||||||
1,644 | Anixter International, Inc. (Electronic Equipment, Instruments & Components) | 5.13 | 10/1/21 | 1,644 | ||||||||||||
1,049 | Aramark Services, Inc. (Food Products), Callable 3/15/15 @ 104.31 | 5.75 | 3/15/20 | 1,083 | ||||||||||||
500 | Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp. (Oil, Gas & Consumable Fuels), Callable 5/15/16 @ 104.00 | 4.75 | 11/15/21 | 475 | ||||||||||||
1,144 | Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp. (Oil, Gas & Consumable Fuels), Callable 2/1/18 @ 102.94 | 5.88 | 8/1/23 | 1,133 | ||||||||||||
1,783 | Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp. (Oil, Gas & Consumable Fuels), Callable 10/1/16 @ 103.00 | 6.63 | 10/1/20 | 1,814 | ||||||||||||
2,157 | Audatex North America, Inc. (Software), Callable 6/15/17 @ 103.00 (a) | 6.00 | 6/15/21 | 2,222 | ||||||||||||
829 | B&G Foods, Inc. (Food Products), Callable 6/1/16 @ 103.47 | 4.63 | 6/1/21 | 809 | ||||||||||||
247 | Basic Energy Services, Inc. (Energy Equipment & Services), Callable 10/15/17 @ 104.00 | 7.75 | 10/15/22 | 185 | ||||||||||||
200 | Berry Petroleum Co. (Oil, Gas & Consumable Fuels), Callable 3/15/17 @ 103.00 | 6.38 | 9/15/22 | 152 |
See accompanying notes to financial statements.
144
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$1,575 | Berry Petroleum Co. (Oil, Gas & Consumable Fuels), Callable 11/1/15 @ 103.00 | 6.75 | 11/1/20 | $ | 1,260 | |||||||||||
6,000 | Bill Barrett Corp. (Oil, Gas & Consumable Fuels), Callable 10/15/17 @ 103.50 | 7.00 | 10/15/22 | 4,830 | ||||||||||||
1,799 | BI-LO LLC/BI-LO Finance Corp. (Food Products), Callable 2/15/15 @ 105.00 (a) | 9.25 | 2/15/19 | 1,655 | ||||||||||||
2,556 | Blue Racer Mid LLC/Finan (Oil, Gas & Consumable Fuels) (a) | 6.13 | 11/15/22 | 2,467 | ||||||||||||
401 | Building Materials Corp. of America (Building Products), Callable 5/1/16 @ 103.00 | 6.75 | 5/1/21 | 424 | ||||||||||||
3,995 | Calfrac Holdings LP (Energy Equipment & Services), Callable 12/1/15 @ 104.00 (a) | 7.50 | 12/1/20 | 3,376 | ||||||||||||
6,566 | California Resources Corp. (Oil, Gas & Consumable Fuels), Callable 6/15/21 @ 100.00 | 5.50 | 9/15/21 | 5,615 | ||||||||||||
3,257 | Calpine Corp. (Independent Power and Renewable Electricity Producers), Callable 1/15/17 @ 103.94 (a) | 7.88 | 1/15/23 | 3,591 | ||||||||||||
2,832 | Cardtronics, Inc. (IT Services), Callable 8/1/17 @ 103.84 | 5.13 | 8/1/22 | 2,761 | ||||||||||||
3,399 | Carrizo Oil & Gas, Inc. (Oil, Gas & Consumable Fuels), Callable 9/15/16 @ 103.75 | 7.50 | 9/15/20 | 3,263 | ||||||||||||
1,206 | CBRE Services, Inc. (Real Estate Management & Development), Callable 12/15/24 @ 100.00 | 5.25 | 3/15/25 | 1,230 | ||||||||||||
1,389 | CBS Outdoor Americas Capital LLC (Real Estate Investment Trusts), Callable 2/15/17 @ 103.94 | 5.25 | 2/15/22 | 1,399 | ||||||||||||
2,315 | CBS Outdoor Americas Capital LLC (Real Estate Investment Trusts), Callable 9/15/17 @ 102.94 | 5.88 | 3/15/25 | 2,332 | ||||||||||||
1,310 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 2/15/18 @ 103.00 | 5.13 | 2/15/23 | 1,281 | ||||||||||||
831 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 9/30/17 @ 103.00 | 5.25 | 9/30/22 | 829 | ||||||||||||
1,085 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 3/15/16 @ 104.00 | 5.25 | 3/15/21 | 1,093 | ||||||||||||
3,340 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 3/1/18 @ 103.00 | 5.75 | 9/1/23 | 3,382 | ||||||||||||
1,370 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 4/30/15 @ 104.88 | 6.50 | 4/30/21 | 1,439 | ||||||||||||
773 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 1/31/17 @ 103.00 | 6.63 | 1/31/22 | 821 | ||||||||||||
725 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 2/17/15 @ 103.50 | 7.00 | 1/15/19 | 752 | ||||||||||||
3,294 | CenturyLink, Inc. (Diversified Telecommunication Services) | 5.63 | 4/1/20 | 3,418 | ||||||||||||
2,061 | CenturyLink, Inc., Series T (Diversified Telecommunication Services) | 5.80 | 3/15/22 | 2,138 | ||||||||||||
245 | CenturyLink, Inc. (Diversified Telecommunication Services) | 6.45 | 6/15/21 | 263 | ||||||||||||
2,864 | Cenveo Corp. (Commercial Services & Supplies), Callable 2/1/19 @ 100.00 (a) | 6.00 | 8/1/19 | 2,591 | ||||||||||||
1,360 | Cenveo Corp. (Commercial Services & Supplies), Callable 5/15/15 @ 106.00 ˆ | 11.50 | 5/15/17 | 1,238 | ||||||||||||
6,178 | Cequel Communications Holdings I LLC/Cequel Capital Corp. (Media), Callable 9/15/15 @ 105.00 (a) | 6.38 | 9/15/20 | 6,395 | ||||||||||||
2,388 | Chemtura Corp. (Chemicals), Callable 7/15/16 @ 104.00 | 5.75 | 7/15/21 | 2,328 | ||||||||||||
623 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels), Callable 4/15/17 @ 104.00 | 4.88 | 4/15/22 | 606 | ||||||||||||
2,000 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 5.75 | 3/15/23 | 2,060 | ||||||||||||
220 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 6.13 | 2/15/21 | 231 | ||||||||||||
95 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 6.50 | 8/15/17 | 101 | ||||||||||||
500 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 6.63 | 8/15/20 | 531 | ||||||||||||
1,190 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 6.88 | 11/15/20 | 1,279 | ||||||||||||
1,450 | Chesapeake Midstream Partners LLC (Oil, Gas & Consumable Fuels), Callable 4/15/15 @ 104.00 | 5.88 | 4/15/21 | 1,512 | ||||||||||||
6,370 | CHS/Community Health Systems, Inc. (Health Care Providers & Services), Callable 7/15/16 @ 104.00 | 7.13 | 7/15/20 | 6,792 | ||||||||||||
1,905 | Cincinnati Bell, Inc. (Diversified Telecommunication Services), Callable 10/15/15 @ 104.00 | 8.38 | 10/15/20 | 2,000 | ||||||||||||
2,155 | CIT Group, Inc. (Diversified Financial Services) (a) | 4.75 | 2/15/15 | 2,157 | ||||||||||||
2,013 | CIT Group, Inc. (Diversified Financial Services) | 5.00 | 8/15/22 | 2,068 | ||||||||||||
1,080 | CIT Group, Inc. (Diversified Financial Services) | 5.25 | 3/15/18 | 1,126 | ||||||||||||
1,515 | CIT Group, Inc. (Diversified Financial Services) (a) | 6.63 | 4/1/18 | 1,644 | ||||||||||||
2,908 | Clayton Williams Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 4/1/15 @ 104.00 | 7.75 | 4/1/19 | 2,472 | ||||||||||||
3,669 | Clear Channel Worldwide Holdings, Inc., Series B (Media), Callable 11/15/17 @ 103.00 | 6.50 | 11/15/22 | 3,780 | ||||||||||||
383 | Cloud Peak Energy Resources LLC/Cloud Peak Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 3/15/19 @ 103.00 | 6.38 | 3/15/24 | 356 | ||||||||||||
710 | Cloud Peak Energy Resources LLC/Cloud Peak Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 2/17/15 @ 104.25 | 8.50 | 12/15/19 | 740 |
See accompanying notes to financial statements.
145
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$1,418 | Commercial Metals Co. (Metals & Mining), Callable 2/15/23 @ 100.00 | 4.88 | 5/15/23 | $ | 1,354 | |||||||||||
1,572 | CONSOL Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 4/15/17 @ 104.41 (a) | 5.88 | 4/15/22 | 1,462 | ||||||||||||
714 | Constellation Brands, Inc. (Beverages) | 3.75 | 5/1/21 | 707 | ||||||||||||
3,020 | Constellation Brands, Inc. (Beverages) | 4.25 | 5/1/23 | 2,997 | ||||||||||||
551 | Crestwood Midstream Partners LP (Oil, Gas & Consumable Fuels), Callable 11/1/16 @ 104.69 | 6.13 | 3/1/22 | 526 | ||||||||||||
2,618 | Crown Castle International Corp. (Real Estate Investment Trusts) | 5.25 | 1/15/23 | 2,670 | ||||||||||||
4,773 | CTR Partnership LP/CareTrust Capital Corp. (Real Estate Investment Trusts), Callable 6/1/17 @ 102.94 | 5.88 | 6/1/21 | 4,833 | ||||||||||||
1,856 | D.R. Horton, Inc. (Household Durables), Callable 12/1/18 @ 100.00 | 3.75 | 3/1/19 | 1,837 | ||||||||||||
753 | D.R. Horton, Inc. (Household Durables), Callable 6/15/22 @ 100.00 | 4.38 | 9/15/22 | 738 | ||||||||||||
574 | DigitalGlobe, Inc. (Aerospace & Defense), Callable 2/1/17 @ 103.00 | 5.25 | 2/1/21 | 545 | ||||||||||||
2,060 | DISH DBS Corp. (Media) | 5.13 | 5/1/20 | 2,075 | ||||||||||||
1,428 | DISH DBS Corp. (Media) | 5.88 | 7/15/22 | 1,464 | ||||||||||||
1,000 | DISH DBS Corp. (Media) | 6.75 | 6/1/21 | 1,075 | ||||||||||||
965 | DISH DBS Corp. (Media) | 7.88 | 9/1/19 | 1,095 | ||||||||||||
1,390 | DPL, Inc. (Electric Utilities), Callable 7/15/21 @ 100.00 | 7.25 | 10/15/21 | 1,418 | ||||||||||||
145 | EchoStar DBS Corp. (Media) | 7.13 | 2/1/16 | 152 | ||||||||||||
2,419 | Equinix, Inc. (Internet Software & Services), Callable 4/1/17 @ 102.44 | 4.88 | 4/1/20 | 2,407 | ||||||||||||
581 | Equinix, Inc. (Internet Software & Services), Callable 4/1/18 @ 103.00 | 5.38 | 4/1/23 | 581 | ||||||||||||
3,141 | First Cash Financial Services, Inc. (Consumer Finance), Callable 4/1/17 @ 105.06 | 6.75 | 4/1/21 | 3,267 | ||||||||||||
2,281 | Frontier Communications Corp. (Diversified Telecommunication Services), Callable 6/15/21 @ 100.00 | 6.25 | 9/15/21 | 2,292 | ||||||||||||
1,645 | Frontier Communications Corp. (Diversified Telecommunication Services) | 8.13 | 10/1/18 | 1,847 | ||||||||||||
4,264 | Frontier Communications Corp. (Diversified Telecommunication Services) | 8.50 | 4/15/20 | 4,754 | ||||||||||||
3,536 | FTS International, Inc. (Oil, Gas & Consumable Fuels), Callable 5/1/17 @ 105.00 (a) | 6.25 | 5/1/22 | 2,581 | ||||||||||||
615 | Gannett Co., Inc. (Media), Callable 9/15/17 @ 102.44 | 4.88 | 9/15/21 | 610 | ||||||||||||
41 | Gannett Co., Inc. (Media), Callable 9/15/19 @ 102.75 | 5.50 | 9/15/24 | 41 | ||||||||||||
210 | GCI, Inc. (Diversified Telecommunication Services), Callable 6/1/16 @ 103.00 | 6.75 | 6/1/21 | 206 | ||||||||||||
2,015 | GCI, Inc. (Diversified Telecommunication Services), Callable 2/17/15 @ 104.31 | 8.63 | 11/15/19 | 2,113 | ||||||||||||
691 | General Motors Financial Co. (Diversified Financial Services) | 3.50 | 7/10/19 | 706 | ||||||||||||
4,589 | General Motors Financial Co. (Diversified Financial Services) | 4.25 | 5/15/23 | 4,679 | ||||||||||||
2,000 | Genesis Energy, LP (Oil, Gas & Consumable Fuels), Callable 6/15/19 @ 102.82 | 5.63 | 6/15/24 | 1,800 | ||||||||||||
4,154 | Genesis Energy, LP (Oil, Gas & Consumable Fuels), Callable 2/15/17 @ 103.00 | 5.75 | 2/15/21 | 3,863 | ||||||||||||
2,365 | GenOn Energy, Inc. (Independent Power and Renewable Electricity Producers) | 9.50 | 10/15/18 | 2,353 | ||||||||||||
2,603 | Gibraltar Industries, Inc. (Building Products), Callable 2/1/17 @ 103.00 (c) | 6.25 | 2/1/21 | 2,642 | ||||||||||||
3,425 | GMAC, Inc. (Consumer Finance) | 8.00 | 11/1/31 | 4,367 | ||||||||||||
1,883 | Harland Clarke Holdings Corp. (Commercial Services & Supplies), Callable 3/1/17 @ 103.00 (a) | 6.88 | 3/1/20 | 1,836 | ||||||||||||
1,915 | Harland Clarke Holdings Corp. (IT Services), Callable 8/1/15 @ 105.00 (a) | 9.75 | 8/1/18 | 2,025 | ||||||||||||
1,787 | HCA, Inc. (Health Care Providers & Services) | 5.88 | 3/15/22 | 1,957 | ||||||||||||
2,555 | HCA, Inc. (Health Care Providers & Services) | 6.50 | 2/15/20 | 2,863 | ||||||||||||
900 | Hilcorp Energy, Inc./Hilcorp Energy Co. (Oil, Gas & Consumable Fuels), Callable 10/1/15 @ 104.00 (a) | 7.63 | 4/15/21 | 905 | ||||||||||||
2,999 | Hilcorp Energy, Inc./Hilcorp Energy Co. (Oil, Gas & Consumable Fuels), Callable 2/15/15 @ 104.00 (a) | 8.00 | 2/15/20 | 3,059 | ||||||||||||
4,040 | Hornbeck Offshore Services, Inc. (Energy Equipment & Services), Callable 3/1/16 @ 104.00 | 5.00 | 3/1/21 | 3,313 | ||||||||||||
700 | Hughes Satellite Systems Corp. (Diversified Telecommunication Services) | 6.50 | 6/15/19 | 751 | ||||||||||||
1,275 | Hughes Satellite Systems Corp. (Diversified Telecommunication Services) | 7.63 | 6/15/21 | 1,403 | ||||||||||||
2,873 | Huntsman International LLC (Chemicals), Callable 8/15/20 @ 100.00 | 4.88 | 11/15/20 | 2,851 | ||||||||||||
1,232 | Huntsman International Ltd. (Chemicals) (a) | 5.13 | 11/15/22 | 1,214 |
See accompanying notes to financial statements.
146
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$3,663 | IAC/InterActiveCorp (Internet Software & Services), Callable 2/17/15 @ 104.88 | 4.88 | 11/30/18 | $ | 3,727 | |||||||||||
3,691 | Ingles Markets, Inc. (Food & Staples Retailing), Callable 6/15/18 @ 103.00 | 5.75 | 6/15/23 | 3,706 | ||||||||||||
224 | International Lease Finance Corp. (Diversified Financial Services) | 4.63 | 4/15/21 | 228 | ||||||||||||
376 | International Lease Finance Corp. (Diversified Financial Services) | 5.88 | 8/15/22 | 408 | ||||||||||||
1,055 | International Lease Finance Corp. (Diversified Financial Services) | 5.88 | 4/1/19 | 1,137 | ||||||||||||
1,125 | International Lease Finance Corp. (Diversified Financial Services) | 6.25 | 5/15/19 | 1,229 | ||||||||||||
1,000 | Iron Mountain, Inc. (Commercial Services & Supplies), Callable 8/15/17 @ 103.00 | 5.75 | 8/15/24 | 1,006 | ||||||||||||
980 | Iron Mountain, Inc. (Commercial Services & Supplies), Callable 10/1/15 @ 104.00 | 7.75 | 10/1/19 | 1,049 | ||||||||||||
1,100 | J.B. Poindexter & Co., Inc. (Auto Components), Callable 4/1/17 @ 105.00 (a) | 9.00 | 4/1/22 | 1,188 | ||||||||||||
8,000 | JBS USA LLC/JBS USA Finance, Inc. (Food Products), Callable 6/1/15 @ 105.44 (a) | 7.25 | 6/1/21 | 8,240 | ||||||||||||
2,622 | JMC Steel Group, Inc. (Metals & Mining), Callable 2/17/15 @ 106.19 (a) | 8.25 | 3/15/18 | 2,491 | ||||||||||||
8,518 | Key Energy Services, Inc. (Energy Equipment & Services), Callable 3/1/16 @ 103.00 | 6.75 | 3/1/21 | 5,281 | ||||||||||||
435 | Kinder Morgan (Delaware), Inc. (Oil, Gas & Consumable Fuels), Callable 8/15/23 @ 100.00 (a) | 5.63 | 11/15/23 | 466 | ||||||||||||
3,556 | Kindred Healthcare, Inc. (Health Care Providers & Services), Callable 4/15/17 @ 105.00 (a) | 6.38 | 4/15/22 | 3,387 | ||||||||||||
1,209 | KLX, Inc. (Aerospace & Defense), Callable 12/1/17 @ 104.41 (a) | 5.88 | 12/1/22 | 1,221 | ||||||||||||
2,650 | Lamar Media Corp. (Media), Callable 2/1/17 @ 102.94 | 5.88 | 2/1/22 | 2,749 | ||||||||||||
2,262 | LifePoint Hospitals, Inc. (Health Care Providers & Services), Callable 12/1/16 @ 104.13 | 5.50 | 12/1/21 | 2,313 | ||||||||||||
3,787 | Limited Brands, Inc. (Specialty Retail) | 5.63 | 2/15/22 | 4,071 | ||||||||||||
100 | Limited Brands, Inc. (Specialty Retail) | 6.63 | 4/1/21 | 113 | ||||||||||||
170 | Limited Brands, Inc. (Specialty Retail) | 7.00 | 5/1/20 | 193 | ||||||||||||
2,988 | Lin Television Corp. (Cable & Satellite), Callable 1/15/17 @ 103.00 | 6.38 | 1/15/21 | 2,981 | ||||||||||||
6,488 | Linn Energy LLC/Linn Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 4/15/15 @ 104.31 | 8.63 | 4/15/20 | 5,646 | ||||||||||||
522 | Lynx I Corp. (Media), Callable 4/15/17 @ 103.00 (a) | 5.38 | 4/15/21 | 539 | ||||||||||||
4,145 | Martin Midstream Partners LP/Martin Midstream Finance Corp. (Oil, Gas & Consumable Fuels), Callable 2/15/17 @ 104.00 | 7.25 | 2/15/21 | 3,896 | ||||||||||||
693 | Media General Financing Sub, Inc. (Health Care Providers & Services) (a) | 5.88 | 11/15/22 | 686 | ||||||||||||
5,494 | Meritage Homes Corp. (Household Durables) | 7.15 | 4/15/20 | 5,905 | ||||||||||||
7,227 | MGM Resorts International (Hotels, Restaurants & Leisure) ˆ | 5.25 | 3/31/20 | 7,173 | ||||||||||||
4,967 | MPT Operating Partnership LP/MPT Finance Corp. (Real Estate Investment Trusts), Callable 2/15/17 @ 103.00 | 6.38 | 2/15/22 | 5,278 | ||||||||||||
1,615 | MPT Operating Partnership LP/MPT Finance Corp. (Real Estate Investment Trusts), Callable 5/1/16 @ 103.00 | 6.88 | 5/1/21 | 1,728 | ||||||||||||
1,722 | Multi-Color Corp. (Professional Services), Callable 12/1/17 @ 104.60 (a) | 6.13 | 12/1/22 | 1,722 | ||||||||||||
6,023 | Navient LLC (Consumer Finance) | 6.13 | 3/25/24 | 5,917 | ||||||||||||
3,282 | NCR Corp. (Technology Hardware, Storage & Peripherals), Callable 12/15/17 @ 102.94 | 5.88 | 12/15/21 | 3,372 | ||||||||||||
1,906 | Netflix, Inc. (Internet & Catalog Retail) (a) | 5.75 | 3/1/24 | 1,982 | ||||||||||||
3,184 | NGL Energy Partners LP/NGL Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 10/15/16 @ 105.00 (a) | 6.88 | 10/15/21 | 3,136 | ||||||||||||
3,012 | Nielsen Finance LLC/Nielsen Finance Co. (Media), Callable 10/1/16 @ 102.00 | 4.50 | 10/1/20 | 3,027 | ||||||||||||
1,782 | Nielsen Finance LLC/Nielsen Finance Co. (Media), Callable 4/15/17 @ 104.00 (a) | 5.00 | 4/15/22 | 1,791 | ||||||||||||
495 | NRG Energy, Inc. (Independent Power and Renewable Electricity Producers), Callable 7/15/18 @ 103.12 | 6.25 | 7/15/22 | 506 | ||||||||||||
3,157 | NRG Energy, Inc. (Independent Power and Renewable Electricity Producers), Callable 5/15/16 @ 104.00 | 7.88 | 5/15/21 | 3,402 | ||||||||||||
1,575 | NRG Energy, Inc. (Independent Power and Renewable Electricity Producers), Callable 9/1/15 @ 104.00 | 8.25 | 9/1/20 | 1,681 | ||||||||||||
1,759 | Nuance Communications, Inc. (Software), Callable 8/15/16 @ 103.00 (a) | 5.38 | 8/15/20 | 1,763 | ||||||||||||
1,445 | NuStar Logistics LP (Oil, Gas & Consumable Fuels) | 4.80 | 9/1/20 | 1,358 | ||||||||||||
316 | NuStar Logistics LP (Oil, Gas & Consumable Fuels) | 6.75 | 2/1/21 | 334 | ||||||||||||
3,528 | Oasis Petroleum, Inc. (Oil, Gas & Consumable Fuels), Callable 9/15/17 @ 103.44 | 6.88 | 3/15/22 | 3,210 |
See accompanying notes to financial statements.
147
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$2,296 | Ocwen Financial Corp. (Consumer Finance), Callable 5/15/16 @ 105.00 ˆ(a) | 6.63 | 5/15/19 | $ | 2,101 | |||||||||||
1,191 | Omnicare, Inc. (Health Care Providers & Services), Callable 9/1/22 @ 100.00 | 4.75 | 12/1/22 | 1,206 | ||||||||||||
2,214 | Peabody Energy Corp. (Oil, Gas & Consumable Fuels) | 6.00 | 11/15/18 | 2,009 | ||||||||||||
790 | Peabody Energy Corp. (Oil, Gas & Consumable Fuels) ˆ | 6.25 | 11/15/21 | 675 | ||||||||||||
3,105 | Penske Automotive Group (Auto Components), Callable 12/1/19 @ 102.69 | 5.38 | 12/1/24 | 3,144 | ||||||||||||
2,386 | PHH Corp. (Diversified Financial Services), Callable 8/15/17 @ 103.00 | 6.38 | 8/15/21 | 2,186 | ||||||||||||
3,963 | PHH Corp. (Diversified Financial Services) | 7.38 | 9/1/19 | 3,973 | ||||||||||||
3,365 | PolyOne Corp. (Chemicals) | 5.25 | 3/15/23 | 3,363 | ||||||||||||
6,670 | Post Holdings, Inc. (Food Products), Callable 2/15/17 @ 103.69 | 7.38 | 2/15/22 | 6,670 | ||||||||||||
1,916 | QEP Resources, Inc. (Oil, Gas & Consumable Fuels) | 6.80 | 3/1/20 | 1,983 | ||||||||||||
2,700 | Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC (Household Products), Callable 8/15/15 @ 103.94 | 7.88 | 8/15/19 | 2,845 | ||||||||||||
875 | Rose Rock Midstream, LP (Oil, Gas & Consumable Fuels), Callable 7/15/17 @ 104.22 | 5.63 | 7/15/22 | 818 | ||||||||||||
750 | RRI Energy, Inc. (Independent Power and Renewable Electricity Producers) | 7.88 | 6/15/17 | 746 | ||||||||||||
814 | RSI Home Products, Inc. (Household Durables), Callable 3/1/15 @ 105.00 (a) | 6.88 | 3/1/18 | 851 | ||||||||||||
1,070 | Sanchez Energy Corp. (Oil, Gas & Consumable Fuels), Callable 7/15/18 @ 103.00 (a) | 6.13 | 1/15/23 | 899 | ||||||||||||
2,535 | SandRidge Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 3/15/16 @ 103.75 | 7.50 | 3/15/21 | 1,622 | ||||||||||||
1,135 | SandRidge Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 4/15/17 @ 104.00 | 8.13 | 10/15/22 | 715 | ||||||||||||
1,680 | SandRidge Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 1/15/15 @ 104.38 | 8.75 | 1/15/20 | 1,134 | ||||||||||||
7,379 | Select Medical Corp. (Health Care Providers & Services), Callable 6/1/16 @ 105.00 | 6.38 | 6/1/21 | 7,489 | ||||||||||||
2,127 | SemGroup Corp. (Oil, Gas & Consumable Fuels), Callable 6/15/16 @ 106.00 | 7.50 | 6/15/21 | 2,127 | ||||||||||||
700 | Service Corp. International (Diversified Consumer Services) | 8.00 | 11/15/21 | 810 | ||||||||||||
1,689 | Seventy Seven Energy, Inc. (Energy Equipment & Services), Callable 7/15/17 @ 104.88 | 6.50 | 7/15/22 | 988 | ||||||||||||
2,022 | Sinclair Television Group, Inc. (Media), Callable 4/1/16 @ 104.00 | 5.38 | 4/1/21 | 2,007 | ||||||||||||
2,379 | Sinclair Television Group, Inc. (Media), Callable 10/1/17 @ 103.00 | 6.13 | 10/1/22 | 2,421 | ||||||||||||
368 | Sinclair Television Group, Inc. (Media), Callable 11/1/16 @ 105.00 | 6.38 | 11/1/21 | 379 | ||||||||||||
1,488 | Sirius XM Radio, Inc. (Media), Callable 8/15/17 @ 103.00 (a) | 5.25 | 8/15/22 | 1,562 | ||||||||||||
1,143 | Sirius XM Radio, Inc. (Media), Callable 10/1/16 @ 103.00 (a) | 5.88 | 10/1/20 | 1,177 | ||||||||||||
446 | Sirius XM Radio, Inc. (Media), Callable 7/15/19 @ 103.00 (a) | 6.00 | 7/15/24 | 457 | ||||||||||||
1,415 | SLM Corp. (Consumer Finance) | 5.50 | 1/15/19 | 1,447 | ||||||||||||
2,000 | SLM Corp., MTN (Consumer Finance) | 6.25 | 1/25/16 | 2,080 | ||||||||||||
3,571 | Smithfield Foods, Inc. (Food Products), Callable 8/15/17 @ 103.00 | 6.63 | 8/15/22 | 3,732 | ||||||||||||
3,880 | Sprint Capital Corp. (Wireless Telecommunication Services) | 6.90 | 5/1/19 | 3,958 | ||||||||||||
2,597 | Sprint Nextel Corp. (Wireless Telecommunication Services) | 6.00 | 11/15/22 | 2,389 | ||||||||||||
410 | Sprint Nextel Corp. (Wireless Telecommunication Services) | 7.00 | 8/15/20 | 410 | ||||||||||||
960 | Sprint Nextel Corp. (Wireless Telecommunication Services) (a) | 7.00 | 3/1/20 | 1,037 | ||||||||||||
165 | Sprint Nextel Corp. (Wireless Telecommunication Services) (a) | 9.00 | 11/15/18 | 188 | ||||||||||||
735 | Sprint Nextel Corp. (Wireless Telecommunication Services) | 11.50 | 11/15/21 | 884 | ||||||||||||
2,003 | Standard Pacific Corp. (Household Durables), Callable 5/15/24 @ 100.00 | 5.88 | 11/15/24 | 2,003 | ||||||||||||
129 | Steel Dynamics, Inc. (Metals & Mining), Callable 10/1/17 @ 102.56 | 5.13 | 10/1/21 | 131 | ||||||||||||
461 | Steel Dynamics, Inc. (Metals & Mining), Callable 4/15/18 @ 103.00 | 5.25 | 4/15/23 | 468 | ||||||||||||
1,000 | Steel Dynamics, Inc. (Metals & Mining), Callable 8/15/17 @ 103.00 | 6.38 | 8/15/22 | 1,060 | ||||||||||||
1,549 | Steel Dynamics, Inc. (Metals & Mining), Callable 3/15/15 @ 104.00 | 7.63 | 3/15/20 | 1,615 | ||||||||||||
1,127 | Targa Resources Partners LP (Oil, Gas & Consumable Fuels), Callable 2/1/17 @ 103.00 | 6.38 | 8/1/22 | 1,141 | ||||||||||||
5,920 | Tenet Healthcare Corp. (Health Care Providers & Services) | 6.00 | 10/1/20 | 6,357 | ||||||||||||
461 | Tesoro Logistics LP (Oil, Gas & Consumable Fuels), Callable 10/15/18 @ 103.13 (a) | 6.25 | 10/15/22 | 460 | ||||||||||||
1,437 | Tesoro Logistics LP/Tesoro Logistics Corp. (Oil, Gas & Consumable Fuels), Callable 10/1/16 @ 103.00 | 5.88 | 10/1/20 | 1,441 | ||||||||||||
2,213 | The ADT Corp. (Commercial Services & Supplies) | 3.50 | 7/15/22 | 1,887 | ||||||||||||
1,655 | The ADT Corp. (Commercial Services & Supplies) ˆ | 6.25 | 10/15/21 | 1,701 |
See accompanying notes to financial statements.
148
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$5,050 | The AES Corp. (Independent Power and Renewable Electricity Producers), Callable 6/1/21 @ 100.00 | 7.38 | 7/1/21 | $ | 5,706 | |||||||||||
15 | The AES Corp. (Independent Power and Renewable Electricity Producers) | 7.75 | 10/15/15 | 16 | ||||||||||||
250 | The AES Corp. (Independent Power and Renewable Electricity Producers) | 8.00 | 6/1/20 | 286 | ||||||||||||
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 | 3,357 | ||||||||||||
1,177 | The Men's Wearhouse, Inc. (Specialty Retail), Callable 7/1/17 @ 105.00 ˆ(a) | 7.00 | 7/1/22 | 1,209 | ||||||||||||
1,481 | The Ryland Group, Inc. (Household Durables) | 5.38 | 10/1/22 | 1,437 | ||||||||||||
163 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 9/1/15 @ 103.00 | 5.25 | 9/1/18 | 169 | ||||||||||||
627 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 9/1/18 @ 103.00 | 6.00 | 3/1/23 | 629 | ||||||||||||
692 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 1/15/18 @ 103.00 | 6.13 | 1/15/22 | 702 | ||||||||||||
2,423 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 4/1/17 @ 103.00 | 6.25 | 4/1/21 | 2,480 | ||||||||||||
6,064 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 4/28/16 @ 103.27 | 6.54 | 4/28/20 | 6,261 | ||||||||||||
1,305 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 4/1/18 @ 103.00 | 6.63 | 4/1/23 | 1,336 | ||||||||||||
162 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 4/28/18 @ 103.00 | 6.84 | 4/28/23 | 167 | ||||||||||||
1,962 | Toll Brothers Finance Corp. (Household Durables) | 5.88 | 2/15/22 | 2,094 | ||||||||||||
1,320 | TRW Automotive, Inc. (Auto Components) (a) | 4.50 | 3/1/21 | 1,327 | ||||||||||||
855 | United Airlines Pass Through Trust, Class B (Airlines) | 4.63 | 9/3/22 | 837 | ||||||||||||
520 | United Rentals NA, Inc. (Commercial Services & Supplies), Callable 5/15/16 @ 104.00 | 7.38 | 5/15/20 | 562 | ||||||||||||
2,636 | United Rentals NA, Inc. (Commercial Services & Supplies), Callable 4/15/17 @ 104.00 | 7.63 | 4/15/22 | 2,897 | ||||||||||||
3,470 | Universal Hospital Services, Inc. (Health Care Equipment & Supplies), Callable 8/15/15 @ 106.00 | 7.63 | 8/15/20 | 2,984 | ||||||||||||
5,348 | URS Corp. (Industrial Conglomerates), Callable 1/1/22 @ 100.00 | 5.00 | 4/1/22 | 5,027 | ||||||||||||
1,038 | Valeant Pharmaceuticals International, Inc. (Pharmaceuticals), Callable 10/15/16 @ 103.00 (a) | 6.38 | 10/15/20 | 1,085 | ||||||||||||
4,778 | ViaSat, Inc. (Communications Equipment), Callable 6/15/16 @ 103.00 | 6.88 | 6/15/20 | 4,969 | ||||||||||||
2,814 | Vulcan Materials Co. (Construction Materials) | 7.50 | 6/15/21 | 3,278 | ||||||||||||
2,286 | West Corp. (Commercial Services & Supplies), Callable 7/15/17 @ 104.00 (a) | 5.38 | 7/15/22 | 2,189 | ||||||||||||
1,672 | Weyerhaeuser Real Estate Co. (Real Estate Investment Trusts) (a) | 4.38 | 6/15/19 | 1,649 | ||||||||||||
3,446 | Whiting Petroleum Corp. (Oil, Gas & Consumable Fuels), Callable 12/15/18 @ 100.00 | 5.00 | 3/15/19 | 3,222 | ||||||||||||
3,556 | Whiting Petroleum Corp. (Oil, Gas & Consumable Fuels), Callable 12/15/20 @ 100.00 | 5.75 | 3/15/21 | 3,298 | ||||||||||||
901 | William Lyon Homes, Inc. (Household Durables), Callable 4/15/16 @ 104.31 | 5.75 | 4/15/19 | 899 | ||||||||||||
15 | Windstream Corp. (Diversified Telecommunication Services), Callable 2/1/18 @ 103.00 | 6.38 | 8/1/23 | 14 | ||||||||||||
533 | Windstream Corp. (Diversified Telecommunication Services), Callable 4/1/16 @ 104.00 | 7.50 | 4/1/23 | 530 | ||||||||||||
655 | Windstream Corp. (Diversified Telecommunication Services), Callable 6/1/17 @ 104.00 | 7.50 | 6/1/22 | 653 | ||||||||||||
600 | Windstream Corp. (Diversified Telecommunication Services), Callable 10/15/15 @ 104.00 | 7.75 | 10/15/20 | 618 | ||||||||||||
4,750 | Windstream Corp. (Diversified Telecommunication Services) | 7.88 | 11/1/17 | 5,143 | ||||||||||||
Total Corporate Bonds | 496,417 | |||||||||||||||
Yankee Dollars — 14.85% | ||||||||||||||||
294 | Aercap Ireland Capital Ltd./AerCap Global Aviation Trust (Diversified Financial Services) | 5.00 | 10/1/21 | 304 | ||||||||||||
3,343 | AerCap Ireland Capital Ltd./AerCap Global Aviation Trust (Diversified Financial Services) (a) | 3.75 | 5/15/19 | 3,310 | ||||||||||||
1,063 | AerCap Ireland Capital Ltd./AerCap Global Aviation Trust (Diversified Financial Services) (a) | 4.50 | 5/15/21 | 1,076 | ||||||||||||
292 | Aircastle Ltd. (Trading Companies & Distributors) | 6.25 | 12/1/19 | 308 | ||||||||||||
50 | Aircastle Ltd. (Trading Companies & Distributors) | 6.75 | 4/15/17 | 53 | ||||||||||||
530 | Aircastle Ltd. (Trading Companies & Distributors) | 7.63 | 4/15/20 | 587 | ||||||||||||
1,720 | Albea Beauty Holdings SA (Personal Products), Callable 11/1/15 @ 106.00 (a) | 8.38 | 11/1/19 | 1,806 | ||||||||||||
1,714 | Arcelormittal (Metals & Mining) | 6.75 | 2/25/22 | 1,830 | ||||||||||||
5,315 | ArcelorMittal (Metals & Mining) | 5.75 | 8/5/20 | 5,514 | ||||||||||||
2,971 | Barry Callebaut Services NV (Food Products) (a) | 5.50 | 6/15/23 | 3,166 | ||||||||||||
736 | Baytex Energy Corp. (Oil, Gas & Consumable Fuels), Callable 6/1/17 @ 103.00 (a) | 5.13 | 6/1/21 | 626 |
See accompanying notes to financial statements.
149
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Yankee Dollars (continued) | ||||||||||||||||
$1,180 | Bombardier, Inc. (Aerospace & Defense) (a) | 5.75 | 3/15/22 | $ | 1,195 | |||||||||||
172 | Bombardier, Inc. (Aerospace & Defense) ˆ(a) | 6.13 | 1/15/23 | 175 | ||||||||||||
1,295 | Calcipar SA (Building Products), Callable 5/1/15 @ 103.00 (a) | 6.88 | 5/1/18 | 1,301 | ||||||||||||
2,107 | Cogeco Cable, Inc. (Media), Callable 5/1/16 @ 104.00 (a) | 4.88 | 5/1/20 | 2,107 | ||||||||||||
5,702 | Drill Rigs Holdings, Inc. (Oil, Gas & Consumable Fuels), Callable 10/1/15 @ 103.00 (a) | 6.50 | 10/1/17 | 4,704 | ||||||||||||
5,764 | First Quantum Minerals Ltd. (Metals & Mining), Callable 2/15/18 @ 103.50 (a) | 7.00 | 2/15/21 | 5,189 | ||||||||||||
55 | First Quantum Minerals Ltd. (Metals & Mining), Callable 10/15/15 @ 105.44 | 7.25 | 10/15/19 | 51 | ||||||||||||
1,351 | First Quantum Minerals Ltd. (Metals & Mining), Callable 5/15/17 @ 105.00 (a) | 7.25 | 5/15/22 | 1,216 | ||||||||||||
400 | FMG Resources (August 2006) Pty Ltd. (Metals & Mining), Callable 4/1/17 @ 103.44 ˆ(a) | 6.88 | 4/1/22 | 333 | ||||||||||||
2,245 | FMG Resources (August 2006) Pty Ltd. (Metals & Mining), Callable 11/1/15 @ 104.00 ˆ(a) | 8.25 | 11/1/19 | 2,043 | ||||||||||||
2,422 | Gibson Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 7/15/16 @ 105.00 (a) | 6.75 | 7/15/21 | 2,416 | ||||||||||||
2,158 | Grifols Worldwide Operations Ltd. (Pharmaceuticals), Callable 4/1/17 @ 104.75 (a) | 5.25 | 4/1/22 | 2,207 | ||||||||||||
775 | HudBay Minerals, Inc. (Metals & Mining), Callable 10/1/16 @ 105.00 (a) | 9.50 | 10/1/20 | 752 | ||||||||||||
2,608 | HudBay Minerals, Inc. (Metals & Mining), Callable 10/1/16 @ 104.75 | 9.50 | 10/1/20 | 2,530 | ||||||||||||
2,145 | Intelsat Jackson Holdings SA (Diversified Telecommunication Services), Callable 10/15/15 @ 103.63 | 7.25 | 10/15/20 | 2,266 | ||||||||||||
2,150 | Intelsat Jackson Holdings SA (Diversified Telecommunication Services), Callable 4/1/16 @ 103.75 | 7.50 | 4/1/21 | 2,301 | ||||||||||||
3,224 | Intergen NV (Electric Utilities), Callable 6/30/18 @ 103.50 (a) | 7.00 | 6/30/23 | 3,063 | ||||||||||||
3,166 | Lundin Mining Corp. (Metals & Mining) (a) | 7.50 | 11/1/20 | 3,134 | ||||||||||||
843 | Lundin Mining Corp. (Metals & Mining) (a) | 7.88 | 11/1/22 | 843 | ||||||||||||
3,691 | MEG Energy Corp. (Oil, Gas & Consumable Fuels), Callable 7/30/17 @ 103.00 (a) | 6.38 | 1/30/23 | 3,294 | ||||||||||||
3,751 | MEG Energy Corp. (Oil, Gas & Consumable Fuels), Callable 3/15/15 @ 105.00 (a) | 6.50 | 3/15/21 | 3,423 | ||||||||||||
400 | MEG Energy Corp. (Oil, Gas & Consumable Fuels), Callable 9/30/18 @ 104.00 (a) | 7.00 | 3/31/24 | 362 | ||||||||||||
3,393 | Navios Maritime Holdings, Inc. (Marine), Callable 1/15/17 @ 106.00 (a) | 7.38 | 1/15/22 | 3,105 | ||||||||||||
1,021 | NCL Corp. Ltd. (Hotels Restaurants & Leisure) (a) | 5.25 | 11/15/19 | 1,029 | ||||||||||||
1,204 | Norbord, Inc. (Paper & Forest Products) (a) | 5.38 | 12/1/20 | 1,168 | ||||||||||||
2,208 | Northern Blizzard Resources, Inc. (Oil, Gas & Consumable Fuels), Callable 2/1/17 @ 105.00 (a) | 7.25 | 2/1/22 | 1,788 | ||||||||||||
1,555 | Novelis, Inc. (Metals & Mining), Callable 2/17/15 @ 104.19 | 8.38 | 12/15/17 | 1,613 | ||||||||||||
4,348 | Pacific Drilling SA (Oil, Gas & Consumable Fuels), Callable 6/1/16 @ 104.00 (a) | 5.38 | 6/1/20 | 3,544 | ||||||||||||
2,521 | Pacific Drilling V Ltd. (Oil, Gas & Consumable Fuels), Callable 12/1/15 @ 104.00 (a) | 7.25 | 12/1/17 | 2,269 | ||||||||||||
3,405 | Quebecor Media, Inc. (Media) | 5.75 | 1/15/23 | 3,481 | ||||||||||||
3,488 | Rexel SA (Trading Companies & Distributors), Callable 6/15/16 @ 103.94 (a) | 5.25 | 6/15/20 | 3,514 | ||||||||||||
1,672 | Royal Caribbean Cruises Ltd. (Hotels, Restaurants & Leisure) | 5.25 | 11/15/22 | 1,756 | ||||||||||||
1,964 | Seagate HDD Cayman (Technology Hardware, Storage & Peripherals) (a) | 4.75 | 1/1/25 | 2,023 | ||||||||||||
1,782 | SoftBank Corp. (Wireless Telecommunication Services) (a) | 4.50 | 4/15/20 | 1,755 | ||||||||||||
3,672 | Stackpole International Intermediate Co. (Auto Components), Callable 10/15/16 @ 106.00 (a) | 7.75 | 10/15/21 | 3,672 | ||||||||||||
2,038 | Stena AB (Marine) (a) | 7.00 | 2/1/24 | 1,865 | ||||||||||||
2,836 | Telecom Italia Capital (Diversified Telecommunication Services) | 7.00 | 6/4/18 | 3,147 | ||||||||||||
1,269 | Tembec Industries, Inc. (Paper & Forest Products), Callable 10/15/16 @ 104.50 | 9.00 | 12/15/19 | 1,248 | ||||||||||||
1,157 | The Nielsen Co. (Luxembourg) Sarl (Professional Services), Callable 10/1/16 @ 104.00 (a) | 5.50 | 10/1/21 | 1,180 | ||||||||||||
3,751 | Tullow Oil PLC (Oil, Gas & Consumable Fuels), Callable 11/1/16 @ 103.00 (a) | 6.00 | 11/1/20 | 3,113 | ||||||||||||
532 | Tullow Oil PLC (Oil, Gas & Consumable Fuels), Callable 4/15/17 @ 105.00 (a) | 6.25 | 4/15/22 | 447 | ||||||||||||
3,652 | UPCB Finance V Ltd. (Diversified Telecommunication Services), Callable 11/15/16 @ 103.63 (a) | 7.25 | 11/15/21 | 3,994 | ||||||||||||
1,037 | UPCB Finance VI Ltd. (Diversified Telecommunication Services), Callable 1/15/17 @ 103.44 (a) | 6.88 | 1/15/22 | 1,128 | ||||||||||||
836 | Videotron Ltee (Media) | 5.00 | 7/15/22 | 851 |
See accompanying notes to financial statements.
150
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Yankee Dollars (continued) | ||||||||||||||||
$5,520 | VPII Escrow Corp. (Pharmaceuticals), Callable 8/15/15 @ 105.00 (a) | 6.75 | 8/15/18 | $ | 5,872 | |||||||||||
Total Yankee Dollars | 117,047 | |||||||||||||||
Time Deposit — 0.34% | ||||||||||||||||
2,700 | State Street Liquidity Management Control System Eurodollar Time Deposit | 0.01 | 1/2/15 | 2,700 | ||||||||||||
Total Time Deposit | 2,700 | |||||||||||||||
Mutual Funds — 13.04% | ||||||||||||||||
440,900 | BlackRock Corporate High Yield Fund, Inc. | 5,025 | ||||||||||||||
1,332,677 | BlackRock Debt Strategies Fund, Inc. | 4,957 | ||||||||||||||
529,948 | Credit Suisse Asset Management Income Fund, Inc. | 1,744 | ||||||||||||||
260,855 | Deutsche High Income Opportunities Fund, Inc. | 3,660 | ||||||||||||||
269,104 | Deutsche High Income Trust | 2,352 | ||||||||||||||
48,927,645 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares (d) | 0.00 | 48,928 | |||||||||||||
296,898 | First Trust High Income Long/Short Fund | 4,750 | ||||||||||||||
225,383 | Ivy High Income Opportunity Fund | 3,575 | ||||||||||||||
267,646 | MFS Intermediate High Income Fund | 709 | ||||||||||||||
306,608 | Neuberger Berman High Yield Strategies Fund, Inc. | 3,771 | ||||||||||||||
413,329 | New America High Income Fund, Inc. | 3,695 | ||||||||||||||
4,490,570 | SSgA Treasury Money Market Fund (d) | 0.00 | 4,491 | |||||||||||||
393,331 | SSgA U.S. Government Money Market Fund (d) | 0.00 | 393 | |||||||||||||
429,009 | Wells Fargo Advantage Income Opportunities Fund | 3,814 | ||||||||||||||
688,203 | Western Asset High Income Opportunity Fund, Inc. | 3,696 | ||||||||||||||
224,273 | Western Asset High Yield Defined Opportunity Fund, Inc. | 3,537 | ||||||||||||||
719,690 | Western Asset Managed High Income Fund, Inc. | 3,678 | ||||||||||||||
Total Mutual Funds | 102,775 | |||||||||||||||
Repurchase Agreement — 0.63% | ||||||||||||||||
5,000 | Jefferies LLC (Purchased on 12/31/14, proceeds at maturity $5,000,033 collateralized by U.S. Treasury Obligations, 0.01% – 2.53%, 2/12/15 – 11/15/40 fair value $5,133,237) ˆˆ | 0.12 | 1/2/15 | 5,000 | ||||||||||||
Total Repurchase Agreement | 5,000 | |||||||||||||||
Total Investments (cost $800,593) — 99.56% | 784,543 | |||||||||||||||
Other assets in excess of liabilities — 0.44% | 3,434 | |||||||||||||||
Net Assets — 100.00% | $ | 787,977 |
ˆ | All or part of this security was on loan as of December 31, 2014. The total value of securities on loan as of December 31, 2014, was $9,349 (amount in thousands). |
ˆˆ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2014. |
(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) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2014. |
(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, 2014. |
(d) | The rate disclosed is the rate in effect on December 31, 2014. |
MTN — Medium Term Note
See accompanying notes to financial statements.
151
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
The following table reflects the percentage of 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 | City of London Investment Management Company | Fort Washington Investment Advisors, Inc. | Western Asset Management Company | HC Capital Solutions | Total | |||||||||||||||
Asset Backed Security | — | — | 0.72 | % | — | 0.72 | % | |||||||||||||
Collateralized Mortgage Obligations | — | — | 6.97 | % | — | 6.97 | % | |||||||||||||
Corporate Bonds | — | 63.01 | % | — | — | 63.01 | % | |||||||||||||
Yankee Dollars | — | 14.85 | % | — | — | 14.85 | % | |||||||||||||
Time Deposits | — | 0.34 | % | — | — | 0.34 | % | |||||||||||||
Mutual Funds | 6.26 | % | — | 0.52 | % | 6.26 | % | 13.04 | % | |||||||||||
Repurchase Agreement | — | 0.63 | % | — | — | 0.63 | % | |||||||||||||
Other Assets (Liablities) | 0.03 | % | 0.83 | % | -0.42 | % | — | 0.44 | % | |||||||||||
Total Net Assets | 6.29 | % | 79.66 | % | 7.79 | % | 6.26 | % | 100.00 | % |
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2014.
Short Futures
Number of Contracts | Futures Contracts Positions ˆ | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
(37) | Euro FX Future | $ | (5,599 | ) | 3/16/15 | $ | 159 | |||||||||
Net Unrealized Appreciation/(Depreciation) | 159 |
Amounts designated as “—” are $0 or have been rounded to $0.
ˆ | Cash has been pledged as collateral for Futures Contracts held by the Portfolio. |
See accompanying notes to financial statements.
152
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Securities — 7.36% | ||||||||||||||||
$200 | Fannie Mae | 0.50 | 3/30/16 | $ | 201 | |||||||||||
385 | Fannie Mae | 0.88 | 10/26/17 | 382 | ||||||||||||
350 | Fannie Mae | 0.88 | 12/20/17 | 346 | ||||||||||||
300 | Fannie Mae | 0.88 | 8/28/17 | 299 | ||||||||||||
450 | Fannie Mae, Callable 2/23/15 @ 100.00 | 0.95 | 8/23/17 | 447 | ||||||||||||
50 | Fannie Mae, Callable 2/15/15 @ 100.00 | 1.00 | 2/15/18 | 50 | ||||||||||||
300 | Fannie Mae, Series 0001, Callable 1/30/15 @ 100.00 | 1.00 | 4/30/18 | 295 | ||||||||||||
300 | Fannie Mae, Callable 3/28/15 @ 100.00 | 1.00 | 12/28/17 | 298 | ||||||||||||
250 | Fannie Mae, Callable 3/27/15 @ 100.00 | 1.07 | 9/27/17 | 248 | ||||||||||||
75 | Fannie Mae, Callable 3/28/15 @ 100.00 | 1.13 | 3/28/18 | 74 | ||||||||||||
250 | Fannie Mae, Callable 2/28/15 @ 100.00 | 1.15 | 2/28/18 | 249 | ||||||||||||
350 | Fannie Mae | 1.25 | 9/28/16 | 354 | ||||||||||||
150 | Fannie Mae, Callable 1/29/15 @ 100.00 | 1.55 | 10/29/19 | 148 | ||||||||||||
200 | Fannie Mae | 1.75 | 11/26/19 | 200 | ||||||||||||
600 | Fannie Mae | 1.88 | 2/19/19 | 609 | ||||||||||||
350 | Fannie Mae | 1.88 | 9/18/18 | 356 | ||||||||||||
100 | Fannie Mae, Callable 2/22/15 @ 100.00 | 2.50 | 2/22/23 | 98 | ||||||||||||
500 | Fannie Mae | 2.63 | 9/6/24 | 506 | ||||||||||||
430 | Fannie Mae (a) | 2.86 | 10/9/19 | 387 | ||||||||||||
410 | Fannie Mae | 5.00 | 2/13/17 | 446 | ||||||||||||
300 | Fannie Mae | 5.00 | 3/15/16 | 316 | ||||||||||||
400 | Fannie Mae | 5.25 | 9/15/16 | 431 | ||||||||||||
200 | Fannie Mae | 5.38 | 6/12/17 | 221 | ||||||||||||
150 | Fannie Mae, Callable 4/18/16 @ 100.00 | 6.00 | 4/18/36 | 160 | ||||||||||||
85 | Fannie Mae | 6.21 | 8/6/38 | 128 | ||||||||||||
95 | Fannie Mae | 6.25 | 5/15/29 | 132 | ||||||||||||
160 | Fannie Mae | 6.63 | 11/15/30 | 238 | ||||||||||||
180 | Fannie Mae | 7.25 | 5/15/30 | 280 | ||||||||||||
150 | Federal Farm Credit Bank, Callable 1/16/15 @ 100.00 | 0.54 | 11/7/16 | 150 | ||||||||||||
250 | Federal Farm Credit Bank | 5.13 | 8/25/16 | 269 | ||||||||||||
200 | Federal Home Loan Bank, Series 1 | 0.88 | 5/24/17 | 200 | ||||||||||||
500 | Federal Home Loan Bank, Series 1 | 1.00 | 6/21/17 | 500 | ||||||||||||
170 | Federal Home Loan Bank, Callable 1/28/15 @ 100.00 | 1.25 | 2/28/18 | 170 | ||||||||||||
200 | Federal Home Loan Bank, Callable 8/28/15 @ 100.00 | 1.50 | 2/28/17 | 201 | ||||||||||||
200 | Federal Home Loan Bank | 1.75 | 12/14/18 | 202 | ||||||||||||
400 | Federal Home Loan Bank | 2.00 | 9/14/18 | 409 | ||||||||||||
300 | Federal Home Loan Bank | 3.63 | 3/12/21 | 327 | ||||||||||||
200 | Federal Home Loan Bank | 4.13 | 3/13/20 | 222 | ||||||||||||
550 | Federal Home Loan Bank | 4.75 | 12/16/16 | 596 | ||||||||||||
250 | Federal Home Loan Bank, Series 1069 | 5.00 | 11/17/17 | 278 | ||||||||||||
180 | Federal Home Loan Bank | 5.25 | 12/11/20 | 213 | ||||||||||||
500 | Federal Home Loan Bank, Series 656 | 5.38 | 5/18/16 | 533 | ||||||||||||
65 | Federal Home Loan Bank | 5.50 | 7/15/36 | 89 | ||||||||||||
200 | Freddie Mac | 0.42 | 9/18/15 | 200 |
See accompanying notes to financial statements.
153
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Securities (continued) | ||||||||||||||||
$75 | Freddie Mac | 0.50 | 1/28/16 | $ | 75 | |||||||||||
100 | Freddie Mac, Callable 3/20/15 @ 100.00 | 0.57 | 6/20/16 | 100 | ||||||||||||
150 | Freddie Mac, Callable 4/5/15 @ 100.00 | 0.75 | 10/5/16 | 150 | ||||||||||||
500 | Freddie Mac | 0.88 | 3/7/18 | 494 | ||||||||||||
400 | Freddie Mac | 0.88 | 2/22/17 | 401 | ||||||||||||
500 | Freddie Mac | 1.00 | 9/29/17 | 499 | ||||||||||||
500 | Freddie Mac | 1.00 | 3/8/17 | 501 | ||||||||||||
125 | Freddie Mac, Callable 1/30/15 @ 100.00 | 1.02 | 4/30/18 | 123 | ||||||||||||
245 | Freddie Mac, Callable 3/12/15 @ 100.00 | 1.20 | 6/12/18 | 242 | ||||||||||||
300 | Freddie Mac, Callable 3/5/15 @ 100.00 | 1.25 | 12/5/17 | 299 | ||||||||||||
100 | Freddie Mac | 1.25 | 10/2/19 | 98 | ||||||||||||
200 | Freddie Mac | 1.25 | 8/1/19 | 196 | ||||||||||||
200 | Freddie Mac | 1.38 | 5/1/20 | 195 | ||||||||||||
250 | Freddie Mac, Callable 6/26/15 @ 100.00 | 1.40 | 8/22/19 | 246 | ||||||||||||
300 | Freddie Mac | 2.00 | 8/25/16 | 307 | ||||||||||||
450 | Freddie Mac | 2.38 | 1/13/22 | 455 | ||||||||||||
100 | Freddie Mac, Callable 6/29/15 @ 100.00 | 2.50 | 4/17/23 | 99 | ||||||||||||
800 | Freddie Mac | 4.75 | 1/19/16 | 837 | ||||||||||||
1,040 | Freddie Mac | 5.25 | 4/18/16 | 1,104 | ||||||||||||
250 | Freddie Mac | 6.25 | 7/15/32 | 365 | ||||||||||||
80 | Freddie Mac | 6.75 | 3/15/31 | 120 | ||||||||||||
310 | Tennessee Valley Authority | 4.70 | 7/15/33 | 372 | ||||||||||||
135 | Tennessee Valley Authority | 5.25 | 9/15/39 | 172 | ||||||||||||
190 | Tennessee Valley Authority | 6.15 | 1/15/38 | 271 | ||||||||||||
Total U.S. Government Agency Securities | 20,179 | |||||||||||||||
Corporate Bond — 0.10% | ||||||||||||||||
250 | Private Export Funding Corp. (Diversified Financial Services) | 4.38 | 3/15/19 | 275 | ||||||||||||
Total Corporate Bond | 275 | |||||||||||||||
U.S. Treasury Obligations — 78.58% | ||||||||||||||||
837 | U.S. Treasury Bond | 2.75 | 8/15/42 | 837 | ||||||||||||
1,171 | U.S. Treasury Bond | 2.75 | 11/15/42 | 1,170 | ||||||||||||
1,416 | U.S. Treasury Bond | 2.88 | 5/15/43 | 1,448 | ||||||||||||
875 | U.S. Treasury Bond | 3.00 | 11/15/44 | 920 | ||||||||||||
439 | U.S. Treasury Bond | 3.00 | 5/15/42 | 461 | ||||||||||||
1,147 | U.S. Treasury Bond | 3.13 | 2/15/43 | 1,232 | ||||||||||||
1,740 | U.S. Treasury Bond | 3.13 | 8/15/44 | 1,873 | ||||||||||||
1,131 | U.S. Treasury Bond | 3.13 | 2/15/42 | 1,218 | ||||||||||||
666 | U.S. Treasury Bond | 3.13 | 11/15/41 | 719 | ||||||||||||
1,405 | U.S. Treasury Bond | 3.38 | 5/15/44 | 1,582 | ||||||||||||
400 | U.S. Treasury Bond | 3.50 | 2/15/39 | 459 | ||||||||||||
1,280 | U.S. Treasury Bond | 3.63 | 2/15/44 | 1,506 | ||||||||||||
900 | U.S. Treasury Bond | 3.63 | 8/15/43 | 1,058 | ||||||||||||
630 | U.S. Treasury Bond | 3.75 | 8/15/41 | 759 | ||||||||||||
1,245 | U.S. Treasury Bond | 3.75 | 11/15/43 | 1,497 |
See accompanying notes to financial statements.
154
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$935 | U.S. Treasury Bond | 3.88 | 8/15/40 | $ | 1,141 | |||||||||||
400 | U.S. Treasury Bond | 4.25 | 5/15/39 | 514 | ||||||||||||
690 | U.S. Treasury Bond | 4.25 | 11/15/40 | 893 | ||||||||||||
146 | U.S. Treasury Bond | 4.38 | 5/15/41 | 194 | ||||||||||||
455 | U.S. Treasury Bond | 4.38 | 2/15/38 | 595 | ||||||||||||
682 | U.S. Treasury Bond | 4.38 | 11/15/39 | 894 | ||||||||||||
363 | U.S. Treasury Bond | 4.38 | 5/15/40 | 477 | ||||||||||||
450 | U.S. Treasury Bond | 4.50 | 2/15/36 | 600 | ||||||||||||
800 | U.S. Treasury Bond | 4.50 | 8/15/39 | 1,066 | ||||||||||||
173 | U.S. Treasury Bond | 4.63 | 2/15/40 | 235 | ||||||||||||
775 | U.S. Treasury Bond | 4.75 | 2/15/41 | 1,083 | ||||||||||||
282 | U.S. Treasury Bond | 5.25 | 11/15/28 | 378 | ||||||||||||
520 | U.S. Treasury Bond | 5.25 | 2/15/29 | 699 | ||||||||||||
359 | U.S. Treasury Bond | 5.38 | 2/15/31 | 500 | ||||||||||||
313 | U.S. Treasury Bond | 5.50 | 8/15/28 | 427 | ||||||||||||
310 | U.S. Treasury Bond | 6.00 | 2/15/26 | 425 | ||||||||||||
235 | U.S. Treasury Bond | 6.13 | 11/15/27 | 334 | ||||||||||||
150 | U.S. Treasury Bond | 6.13 | 8/15/29 | 219 | ||||||||||||
122 | U.S. Treasury Bond | 6.25 | 8/15/23 | 162 | ||||||||||||
215 | U.S. Treasury Bond | 6.25 | 5/15/30 | 321 | ||||||||||||
618 | U.S. Treasury Bond | 6.50 | 11/15/26 | 890 | ||||||||||||
200 | U.S. Treasury Bond | 6.75 | 8/15/26 | 292 | ||||||||||||
350 | U.S. Treasury Bond | 6.88 | 8/15/25 | 506 | ||||||||||||
474 | U.S. Treasury Bond | 7.13 | 2/15/23 | 655 | ||||||||||||
300 | U.S. Treasury Bond | 7.25 | 8/15/22 | 413 | ||||||||||||
700 | U.S. Treasury Bond | 7.50 | 11/15/16 | 789 | ||||||||||||
7 | U.S. Treasury Bond | 7.88 | 2/15/21 | 9 | ||||||||||||
350 | U.S. Treasury Bond | 8.13 | 8/15/19 | 453 | ||||||||||||
110 | U.S. Treasury Bond | 8.13 | 8/15/21 | 153 | ||||||||||||
400 | U.S. Treasury Bond | 8.75 | 8/15/20 | 550 | ||||||||||||
180 | U.S. Treasury Note | 0.25 | 5/15/16 | 180 | ||||||||||||
1,700 | U.S. Treasury Note | 0.25 | 2/29/16 | 1,698 | ||||||||||||
1,355 | U.S. Treasury Note | 0.25 | 4/15/16 | 1,353 | ||||||||||||
899 | U.S. Treasury Note | 0.38 | 1/15/16 | 900 | ||||||||||||
814 | U.S. Treasury Note | 0.38 | 3/15/16 | 814 | ||||||||||||
980 | U.S. Treasury Note | 0.38 | 10/31/16 | 976 | ||||||||||||
923 | U.S. Treasury Note | 0.38 | 4/30/16 | 923 | ||||||||||||
1,500 | U.S. Treasury Note | 0.38 | 1/31/16 | 1,501 | ||||||||||||
1,371 | U.S. Treasury Note | 0.38 | 2/15/16 | 1,372 | ||||||||||||
1,714 | U.S. Treasury Note | 0.38 | 3/31/16 | 1,714 | ||||||||||||
1,005 | U.S. Treasury Note | 0.38 | 5/31/16 | 1,004 | ||||||||||||
1,050 | U.S. Treasury Note | 0.50 | 7/31/16 | 1,050 | ||||||||||||
1,335 | U.S. Treasury Note | 0.50 | 7/31/17 | 1,320 | ||||||||||||
970 | U.S. Treasury Note | 0.50 | 11/30/16 | 968 |
See accompanying notes to financial statements.
155
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$870 | U.S. Treasury Note | 0.50 | 8/31/16 | $ | 870 | |||||||||||
995 | U.S. Treasury Note | 0.50 | 6/30/16 | 995 | ||||||||||||
935 | U.S. Treasury Note | 0.50 | 9/30/16 | 934 | ||||||||||||
327 | U.S. Treasury Note | 0.50 | 6/15/16 | 327 | ||||||||||||
1,000 | U.S. Treasury Note | 0.63 | 2/15/17 | 998 | ||||||||||||
925 | U.S. Treasury Note | 0.63 | 11/15/16 | 925 | ||||||||||||
1,000 | U.S. Treasury Note | 0.63 | 8/15/16 | 1,002 | ||||||||||||
1,100 | U.S. Treasury Note | 0.63 | 10/15/16 | 1,100 | ||||||||||||
800 | U.S. Treasury Note | 0.63 | 4/30/18 | 784 | ||||||||||||
1,785 | U.S. Treasury Note | 0.63 | 5/31/17 | 1,775 | ||||||||||||
1,000 | U.S. Treasury Note | 0.63 | 7/15/16 | 1,002 | ||||||||||||
1,120 | U.S. Treasury Note | 0.63 | 12/15/16 | 1,119 | ||||||||||||
650 | U.S. Treasury Note | 0.63 | 9/30/17 | 643 | ||||||||||||
800 | U.S. Treasury Note | 0.63 | 11/30/17 | 790 | ||||||||||||
1,220 | U.S. Treasury Note | 0.63 | 8/31/17 | 1,208 | ||||||||||||
1,000 | U.S. Treasury Note | 0.63 | 12/31/16 | 999 | ||||||||||||
1,236 | U.S. Treasury Note | 0.75 | 12/31/17 | 1,223 | ||||||||||||
1,000 | U.S. Treasury Note | 0.75 | 10/31/17 | 992 | ||||||||||||
1,046 | U.S. Treasury Note | 0.75 | 3/15/17 | 1,046 | ||||||||||||
1,150 | U.S. Treasury Note | 0.75 | 2/28/18 | 1,134 | ||||||||||||
513 | U.S. Treasury Note | 0.75 | 3/31/18 | 505 | ||||||||||||
1,100 | U.S. Treasury Note | 0.75 | 1/15/17 | 1,101 | ||||||||||||
1,200 | U.S. Treasury Note | 0.75 | 6/30/17 | 1,196 | ||||||||||||
1,000 | U.S. Treasury Note | 0.88 | 1/31/17 | 1,003 | ||||||||||||
1,281 | U.S. Treasury Note | 0.88 | 9/15/16 | 1,288 | ||||||||||||
680 | U.S. Treasury Note | 0.88 | 4/15/17 | 681 | ||||||||||||
810 | U.S. Treasury Note | 0.88 | 8/15/17 | 808 | ||||||||||||
799 | U.S. Treasury Note | 0.88 | 1/31/18 | 793 | ||||||||||||
380 | U.S. Treasury Note | 0.88 | 7/31/19 | 368 | ||||||||||||
930 | U.S. Treasury Note | 0.88 | 6/15/17 | 929 | ||||||||||||
1,692 | U.S. Treasury Note | 0.88 | 4/30/17 | 1,694 | ||||||||||||
895 | U.S. Treasury Note | 0.88 | 7/15/17 | 894 | ||||||||||||
1,255 | U.S. Treasury Note | 0.88 | 2/28/17 | 1,258 | ||||||||||||
910 | U.S. Treasury Note | 0.88 | 10/15/17 | 907 | ||||||||||||
1,575 | U.S. Treasury Note | 0.88 | 12/31/16 | 1,581 | ||||||||||||
1,022 | U.S. Treasury Note | 0.88 | 11/30/16 | 1,026 | ||||||||||||
940 | U.S. Treasury Note | 0.88 | 5/15/17 | 941 | ||||||||||||
900 | U.S. Treasury Note | 0.88 | 11/15/17 | 896 | ||||||||||||
1,500 | U.S. Treasury Note | 1.00 | 8/31/16 | 1,511 | ||||||||||||
600 | U.S. Treasury Note | 1.00 | 8/31/19 | 584 | ||||||||||||
1,200 | U.S. Treasury Note | 1.00 | 3/31/17 | 1,205 | ||||||||||||
1,210 | U.S. Treasury Note | 1.00 | 9/15/17 | 1,211 | ||||||||||||
716 | U.S. Treasury Note | 1.00 | 9/30/19 | 696 | ||||||||||||
860 | U.S. Treasury Note | 1.00 | 12/15/17 | 858 |
See accompanying notes to financial statements.
156
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$15 | U.S. Treasury Note | 1.00 | 10/31/16 | $ | 15 | |||||||||||
1,400 | U.S. Treasury Note | 1.00 | 5/31/18 | 1,386 | ||||||||||||
927 | U.S. Treasury Note | 1.00 | 9/30/16 | 934 | ||||||||||||
515 | U.S. Treasury Note | 1.00 | 11/30/19 | 500 | ||||||||||||
975 | U.S. Treasury Note | 1.13 | 12/31/19 | 951 | ||||||||||||
655 | U.S. Treasury Note | 1.13 | 4/30/20 | 636 | ||||||||||||
400 | U.S. Treasury Note | 1.13 | 3/31/20 | 389 | ||||||||||||
1,150 | U.S. Treasury Note | 1.25 | 11/30/18 | 1,142 | ||||||||||||
1,295 | U.S. Treasury Note | 1.25 | 10/31/18 | 1,287 | ||||||||||||
475 | U.S. Treasury Note | 1.25 | 10/31/19 | 467 | ||||||||||||
600 | U.S. Treasury Note | 1.25 | 2/29/20 | 587 | ||||||||||||
835 | U.S. Treasury Note | 1.25 | 1/31/19 | 827 | ||||||||||||
300 | U.S. Treasury Note | 1.25 | 4/30/19 | 297 | ||||||||||||
500 | U.S. Treasury Note | 1.38 | 1/31/20 | 493 | ||||||||||||
657 | U.S. Treasury Note | 1.38 | 6/30/18 | 658 | ||||||||||||
300 | U.S. Treasury Note | 1.38 | 5/31/20 | 294 | ||||||||||||
800 | U.S. Treasury Note | 1.38 | 7/31/18 | 801 | ||||||||||||
1,600 | U.S. Treasury Note | 1.38 | 9/30/18 | 1,598 | ||||||||||||
368 | U.S. Treasury Note | 1.38 | 2/28/19 | 366 | ||||||||||||
893 | U.S. Treasury Note | 1.38 | 12/31/18 | 890 | ||||||||||||
585 | U.S. Treasury Note | 1.38 | 11/30/18 | 584 | ||||||||||||
1,135 | U.S. Treasury Note | 1.50 | 5/31/19 | 1,132 | ||||||||||||
1,414 | U.S. Treasury Note | 1.50 | 7/31/16 | 1,436 | ||||||||||||
820 | U.S. Treasury Note | 1.50 | 3/31/19 | 820 | ||||||||||||
1,250 | U.S. Treasury Note | 1.50 | 10/31/19 | 1,242 | ||||||||||||
1,176 | U.S. Treasury Note | 1.50 | 2/28/19 | 1,177 | ||||||||||||
1,800 | U.S. Treasury Note | 1.50 | 8/31/18 | 1,809 | ||||||||||||
750 | U.S. Treasury Note | 1.50 | 6/30/16 | 761 | ||||||||||||
1,210 | U.S. Treasury Note | 1.50 | 11/30/19 | 1,202 | ||||||||||||
1,233 | U.S. Treasury Note | 1.50 | 1/31/19 | 1,233 | ||||||||||||
840 | U.S. Treasury Note | 1.50 | 12/31/18 | 841 | ||||||||||||
1,120 | U.S. Treasury Note | 1.63 | 8/15/22 | 1,089 | ||||||||||||
1,205 | U.S. Treasury Note | 1.63 | 12/31/19 | 1,203 | ||||||||||||
1,660 | U.S. Treasury Note | 1.63 | 8/31/19 | 1,662 | ||||||||||||
1,257 | U.S. Treasury Note | 1.63 | 11/15/22 | 1,219 | ||||||||||||
1,230 | U.S. Treasury Note | 1.63 | 4/30/19 | 1,234 | ||||||||||||
1,160 | U.S. Treasury Note | 1.63 | 6/30/19 | 1,163 | ||||||||||||
1,160 | U.S. Treasury Note | 1.63 | 7/31/19 | 1,162 | ||||||||||||
1,220 | U.S. Treasury Note | 1.63 | 3/31/19 | 1,225 | ||||||||||||
1,000 | U.S. Treasury Note | 1.75 | 10/31/20 | 996 | ||||||||||||
711 | U.S. Treasury Note | 1.75 | 5/31/16 | 724 | ||||||||||||
1,090 | U.S. Treasury Note | 1.75 | 5/15/22 | 1,072 | ||||||||||||
1,400 | U.S. Treasury Note | 1.75 | 9/30/19 | 1,408 | ||||||||||||
640 | U.S. Treasury Note | 1.75 | 10/31/18 | 648 |
See accompanying notes to financial statements.
157
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$2,098 | U.S. Treasury Note | 1.75 | 5/15/23 | $ | 2,042 | |||||||||||
1,000 | U.S. Treasury Note | 1.88 | 11/30/21 | 994 | ||||||||||||
1,200 | U.S. Treasury Note | 1.88 | 10/31/17 | 1,228 | ||||||||||||
1,000 | U.S. Treasury Note | 1.88 | 8/31/17 | 1,023 | ||||||||||||
816 | U.S. Treasury Note | 1.88 | 9/30/17 | 835 | ||||||||||||
750 | U.S. Treasury Note | 1.88 | 6/30/20 | 755 | ||||||||||||
633 | U.S. Treasury Note | 2.00 | 1/31/16 | 644 | ||||||||||||
766 | U.S. Treasury Note | 2.00 | 2/28/21 | 771 | ||||||||||||
866 | U.S. Treasury Note | 2.00 | 4/30/16 | 884 | ||||||||||||
940 | U.S. Treasury Note | 2.00 | 5/31/21 | 945 | ||||||||||||
1,050 | U.S. Treasury Note | 2.00 | 11/30/20 | 1,059 | ||||||||||||
980 | U.S. Treasury Note | 2.00 | 10/31/21 | 983 | ||||||||||||
870 | U.S. Treasury Note | 2.00 | 8/31/21 | 873 | ||||||||||||
1,000 | U.S. Treasury Note | 2.00 | 7/31/20 | 1,013 | ||||||||||||
955 | U.S. Treasury Note | 2.00 | 9/30/20 | 965 | ||||||||||||
1,538 | U.S. Treasury Note | 2.00 | 2/15/23 | 1,532 | ||||||||||||
843 | U.S. Treasury Note | 2.00 | 2/15/22 | 845 | ||||||||||||
1,500 | U.S. Treasury Note | 2.00 | 11/15/21 | 1,506 | ||||||||||||
935 | U.S. Treasury Note | 2.13 | 9/30/21 | 946 | ||||||||||||
1,035 | U.S. Treasury Note | 2.13 | 8/31/20 | 1,053 | ||||||||||||
1,547 | U.S. Treasury Note | 2.13 | 8/15/21 | 1,565 | ||||||||||||
750 | U.S. Treasury Note | 2.13 | 1/31/21 | 761 | ||||||||||||
400 | U.S. Treasury Note | 2.13 | 2/29/16 | 408 | ||||||||||||
960 | U.S. Treasury Note | 2.13 | 6/30/21 | 972 | ||||||||||||
1,000 | U.S. Treasury Note | 2.13 | 12/31/21 | 1,010 | ||||||||||||
1,360 | U.S. Treasury Note | 2.25 | 11/15/24 | 1,369 | ||||||||||||
850 | U.S. Treasury Note | 2.25 | 4/30/21 | 867 | ||||||||||||
300 | U.S. Treasury Note | 2.25 | 3/31/16 | 307 | ||||||||||||
374 | U.S. Treasury Note | 2.25 | 11/30/17 | 387 | ||||||||||||
665 | U.S. Treasury Note | 2.25 | 7/31/21 | 678 | ||||||||||||
500 | U.S. Treasury Note | 2.25 | 7/31/18 | 516 | ||||||||||||
1,010 | U.S. Treasury Note | 2.25 | 3/31/21 | 1,031 | ||||||||||||
1,295 | U.S. Treasury Note | 2.38 | 7/31/17 | 1,342 | ||||||||||||
1,085 | U.S. Treasury Note | 2.38 | 12/31/20 | 1,117 | ||||||||||||
200 | U.S. Treasury Note | 2.38 | 5/31/18 | 207 | ||||||||||||
450 | U.S. Treasury Note | 2.38 | 6/30/18 | 466 | ||||||||||||
1,820 | U.S. Treasury Note | 2.38 | 8/15/24 | 1,854 | ||||||||||||
995 | U.S. Treasury Note | 2.38 | 3/31/16 | 1,020 | ||||||||||||
2,240 | U.S. Treasury Note | 2.50 | 5/15/24 | 2,307 | ||||||||||||
750 | U.S. Treasury Note | 2.50 | 6/30/17 | 780 | ||||||||||||
1,290 | U.S. Treasury Note | 2.50 | 8/15/23 | 1,331 | ||||||||||||
592 | U.S. Treasury Note | 2.63 | 4/30/16 | 609 | ||||||||||||
1,678 | U.S. Treasury Note | 2.63 | 11/15/20 | 1,752 | ||||||||||||
300 | U.S. Treasury Note | 2.63 | 4/30/18 | 314 |
See accompanying notes to financial statements.
158
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$406 | U.S. Treasury Note | 2.63 | 1/31/18 | $ | 424 | |||||||||||
465 | U.S. Treasury Note | 2.63 | 2/29/16 | 477 | ||||||||||||
1,347 | U.S. Treasury Note | 2.63 | 8/15/20 | 1,407 | ||||||||||||
648 | U.S. Treasury Note | 2.75 | 12/31/17 | 679 | ||||||||||||
1,937 | U.S. Treasury Note | 2.75 | 11/15/23 | 2,038 | ||||||||||||
700 | U.S. Treasury Note | 2.75 | 5/31/17 | 732 | ||||||||||||
1,000 | U.S. Treasury Note | 2.75 | 11/30/16 | 1,040 | ||||||||||||
1,029 | U.S. Treasury Note | 2.75 | 2/15/19 | 1,083 | ||||||||||||
2,015 | U.S. Treasury Note | 2.75 | 2/15/24 | 2,119 | ||||||||||||
300 | U.S. Treasury Note | 2.75 | 2/28/18 | 314 | ||||||||||||
400 | U.S. Treasury Note | 2.88 | 3/31/18 | 421 | ||||||||||||
900 | U.S. Treasury Note | 3.00 | 2/28/17 | 943 | ||||||||||||
1,015 | U.S. Treasury Note | 3.00 | 9/30/16 | 1,058 | ||||||||||||
767 | U.S. Treasury Note | 3.00 | 8/31/16 | 798 | ||||||||||||
482 | U.S. Treasury Note | 3.13 | 4/30/17 | 508 | ||||||||||||
1,035 | U.S. Treasury Note | 3.13 | 1/31/17 | 1,087 | ||||||||||||
1,230 | U.S. Treasury Note | 3.13 | 5/15/19 | 1,311 | ||||||||||||
1,300 | U.S. Treasury Note | 3.13 | 10/31/16 | 1,359 | ||||||||||||
1,060 | U.S. Treasury Note | 3.13 | 5/15/21 | 1,138 | ||||||||||||
349 | U.S. Treasury Note | 3.25 | 7/31/16 | 364 | ||||||||||||
600 | U.S. Treasury Note | 3.25 | 6/30/16 | 624 | ||||||||||||
1,102 | U.S. Treasury Note | 3.25 | 12/31/16 | 1,158 | ||||||||||||
1,000 | U.S. Treasury Note | 3.25 | 5/31/16 | 1,039 | ||||||||||||
827 | U.S. Treasury Note | 3.25 | 3/31/17 | 872 | ||||||||||||
1,082 | U.S. Treasury Note | 3.38 | 11/15/19 | 1,172 | ||||||||||||
799 | U.S. Treasury Note | 3.50 | 2/15/18 | 856 | ||||||||||||
1,575 | U.S. Treasury Note | 3.50 | 5/15/20 | 1,718 | ||||||||||||
1,152 | U.S. Treasury Note | 3.63 | 2/15/21 | 1,269 | ||||||||||||
1,260 | U.S. Treasury Note | 3.63 | 2/15/20 | 1,381 | ||||||||||||
1,000 | U.S. Treasury Note | 3.63 | 8/15/19 | 1,091 | ||||||||||||
1,000 | U.S. Treasury Note | 3.75 | 11/15/18 | 1,089 | ||||||||||||
665 | U.S. Treasury Note | 3.88 | 5/15/18 | 723 | ||||||||||||
100 | U.S. Treasury Note | 4.00 | 8/15/18 | 110 | ||||||||||||
500 | U.S. Treasury Note | 4.25 | 11/15/17 | 545 | ||||||||||||
900 | U.S. Treasury Note | 4.50 | 2/15/16 | 942 | ||||||||||||
648 | U.S. Treasury Note | 4.50 | 5/15/17 | 704 | ||||||||||||
500 | U.S. Treasury Note | 4.63 | 11/15/16 | 537 | ||||||||||||
580 | U.S. Treasury Note | 4.63 | 2/15/17 | 627 | ||||||||||||
850 | U.S. Treasury Note | 4.88 | 8/15/16 | 910 | ||||||||||||
1,000 | U.S. Treasury Note | 5.13 | 5/15/16 | 1,064 | ||||||||||||
Total U.S. Treasury Obligations | 215,336 | |||||||||||||||
Time Deposit — 0.19% | ||||||||||||||||
516 | State Street Liquidity Management Control System Eurodollar Time Deposit | 0.01 | 1/2/15 | 516 | ||||||||||||
Total Time Deposit | 516 |
See accompanying notes to financial statements.
159
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Mutual Fund — 13.13% | ||||||||||||||||
35,985,507 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares (b) | 0.00 | $ | 35,986 | ||||||||||||
Total Mutual Fund | 35,986 | |||||||||||||||
Total Investments (cost $267,706) — 99.36% | 272,292 | |||||||||||||||
Other assets in excess of liabilities — 0.64% | 1,767 | |||||||||||||||
Net Assets — 100.00% | $ | 274,059 |
(a) | Rate disclosed represents effective yield at purchase. |
(b) | The rate disclosed is the rate in effect on December 31, 2014. |
See accompanying notes to financial statements.
160
HC CAPITAL TRUST
The Inflation Protected Securities Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Shares | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations — 89.01% | ||||||||||||||||
$6,769 | U.S. Treasury Inflation Index Bond | 0.63 | 2/15/43 | $ | 6,364 | |||||||||||
9,036 | U.S. Treasury Inflation Index Bond | 0.75 | 2/15/42 | 8,779 | ||||||||||||
10,096 | U.S. Treasury Inflation Index Bond | 1.38 | 2/15/44 | 11,427 | ||||||||||||
7,629 | U.S. Treasury Inflation Index Bond | 1.75 | 1/15/28 | 8,636 | ||||||||||||
9,740 | U.S. Treasury Inflation Index Bond | 2.00 | 1/15/26 | 11,161 | ||||||||||||
5,133 | U.S. Treasury Inflation Index Bond | 2.13 | 2/15/41 | 6,701 | ||||||||||||
4,092 | U.S. Treasury Inflation Index Bond | 2.13 | 2/15/40 | 5,304 | ||||||||||||
7,647 | U.S. Treasury Inflation Index Bond | 2.38 | 1/15/27 | 9,152 | ||||||||||||
13,047 | U.S. Treasury Inflation Index Bond | 2.38 | 1/15/25 | 15,318 | ||||||||||||
7,384 | U.S. Treasury Inflation Index Bond | 2.50 | 1/15/29 | 9,162 | ||||||||||||
2,983 | U.S. Treasury Inflation Index Bond | 3.38 | 4/15/32 | 4,231 | ||||||||||||
6,442 | U.S. Treasury Inflation Index Bond | 3.63 | 4/15/28 | 8,854 | ||||||||||||
7,841 | U.S. Treasury Inflation Index Bond | 3.88 | 4/15/29 | 11,223 | ||||||||||||
22,239 | U.S. Treasury Inflation Index Note | 0.13 | 4/15/17 | 22,256 | ||||||||||||
20,293 | U.S. Treasury Inflation Index Note | 0.13 | 7/15/22 | 19,772 | ||||||||||||
24,726 | U.S. Treasury Inflation Index Note | 0.13 | 4/15/18 | 24,635 | ||||||||||||
20,024 | U.S. Treasury Inflation Index Note | 0.13 | 7/15/24 | 19,284 | ||||||||||||
20,385 | U.S. Treasury Inflation Index Note | 0.13 | 1/15/23 | 19,711 | ||||||||||||
19,932 | U.S. Treasury Inflation Index Note | 0.13 | 1/15/22 | 19,387 | ||||||||||||
24,494 | U.S. Treasury Inflation Index Note | 0.13 | 4/15/19 | 24,224 | ||||||||||||
19,764 | U.S. Treasury Inflation Index Note | 0.13 | 4/15/16 | 19,704 | ||||||||||||
20,221 | U.S. Treasury Inflation Index Note | 0.38 | 7/15/23 | 19,991 | ||||||||||||
20,175 | U.S. Treasury Inflation Index Note | 0.63 | 1/15/24 | 20,261 | ||||||||||||
17,823 | U.S. Treasury Inflation Index Note | 0.63 | 7/15/21 | 18,048 | ||||||||||||
16,793 | U.S. Treasury Inflation Index Note | 1.13 | 1/15/21 | 17,445 | ||||||||||||
14,678 | U.S. Treasury Inflation Index Note | 1.25 | 7/15/20 | 15,405 | ||||||||||||
9,663 | U.S. Treasury Inflation Index Note | 1.38 | 1/15/20 | 10,143 | ||||||||||||
7,452 | U.S. Treasury Inflation Index Note | 1.38 | 7/15/18 | 7,805 | ||||||||||||
7,554 | U.S. Treasury Inflation Index Note | 1.63 | 1/15/18 | 7,910 | ||||||||||||
7,873 | U.S. Treasury Inflation Index Note | �� | 1.88 | 7/15/19 | 8,450 | |||||||||||
9,823 | U.S. Treasury Inflation Index Note | 2.00 | 1/15/16 | 9,968 | ||||||||||||
6,932 | U.S. Treasury Inflation Index Note | 2.13 | 1/15/19 | 7,448 | ||||||||||||
8,343 | U.S. Treasury Inflation Index Note | 2.38 | 1/15/17 | 8,753 | ||||||||||||
9,623 | U.S. Treasury Inflation Index Note | 2.50 | 7/15/16 | 10,031 | ||||||||||||
7,152 | U.S. Treasury Inflation Index Note | 2.63 | 7/15/17 | 7,667 | ||||||||||||
Total U.S. Treasury Obligations | 454,610 | |||||||||||||||
Mutual Funds — 10.61% | ||||||||||||||||
52,980,899 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares (a) | 0.00 | 52,981 | |||||||||||||
1,178,877 | SSgA Treasury Money Market Fund (a) | 0.00 | 1,179 | |||||||||||||
Total Mutual Funds | 54,160 | |||||||||||||||
Total Investments (cost $510,059) — 99.62% | 508,770 | |||||||||||||||
Other assets in excess of liabilities — 0.38% | 1,923 | |||||||||||||||
Net Assets — 100.00% | $ | 510,693 |
(a) | The rate disclosed is the rate in effect on December 31, 2014. |
See accompanying notes to financial statements.
161
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds — 71.30% | ||||||||||||||||
$1,387 | 3M Co. (Industrial Conglomerates) | 1.38 | 9/29/16 | $ | 1,402 | |||||||||||
4,244 | American Airlines, Series 2013-2, Class A (Airlines) | 4.95 | 1/15/23 | 4,547 | ||||||||||||
2,566 | American Express Credit, MTN (Consumer Finance) | 1.75 | 6/12/15 | 2,580 | ||||||||||||
3,543 | American International Group, MTN (Insurance) | 5.85 | 1/16/18 | 3,961 | ||||||||||||
2,348 | American Tower Corp. (Real Estate Investment Trusts) | 3.50 | 1/31/23 | 2,269 | ||||||||||||
3,212 | American Tower Corp. (Real Estate Investment Trusts) | 5.00 | 2/15/24 | 3,405 | ||||||||||||
699 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | 3.00 | 4/15/16 | 715 | ||||||||||||
4,256 | Apple, Inc. (Technology Hardware, Storage & Peripherals) | 2.85 | 5/6/21 | 4,354 | ||||||||||||
1,844 | Arch Capital Group (U.S.), Inc. (Insurance) | 5.14 | 11/1/43 | 2,049 | ||||||||||||
3,101 | AT&T, Inc. (Wireless Telecommunication Services) | 2.38 | 11/27/18 | 3,125 | ||||||||||||
566 | AT&T, Inc. (Wireless Telecommunication Services), Callable 12/15/44 @ 100.00 | 4.35 | 6/15/45 | 534 | ||||||||||||
1,775 | Bank of America Corp., Series BKNT (Banks) | 1.25 | 2/14/17 | 1,771 | ||||||||||||
2,588 | Bank of America Corp., MTN (Banks) | 1.70 | 8/25/17 | 2,589 | ||||||||||||
3,442 | Bank of America Corp. (Banks) | 2.60 | 1/15/19 | 3,469 | ||||||||||||
1,697 | Bank of America Corp., MTN (Banks) | 4.25 | 10/22/26 | 1,693 | ||||||||||||
1,796 | Barrick NA Finance LLC (Metals & Mining) | 5.75 | 5/1/43 | 1,782 | ||||||||||||
753 | Becton Dickinson & Co. (Health Care Equipment & Supplies), Callable 6/15/44 @ 100.00 | 4.69 | 12/15/44 | 811 | ||||||||||||
495 | Boardwalk Pipelines LP (Oil, Gas & Consumable Fuels), Callable 9/15/24 @ 100.00 | 4.95 | 12/15/24 | 492 | ||||||||||||
3,640 | Burlington Northern Santa Fe LLC (Road & Rail), Callable 3/1/44 @ 100.00 | 4.55 | 9/1/44 | 3,907 | ||||||||||||
3,395 | CC Holdings GS V LLC (Communications Equipment) | 3.85 | 4/15/23 | 3,372 | ||||||||||||
1,180 | Celgene Corp. (Biotechnology), Callable 11/15/43 @ 100.00 | 4.63 | 5/15/44 | 1,224 | ||||||||||||
2,430 | Cisco Systems, Inc. (Communications Equipment) | 2.13 | 3/1/19 | 2,441 | ||||||||||||
1,904 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 2/22/16 | 2,009 | ||||||||||||
5,041 | Citigroup, Inc. (Banks) | 2.50 | 9/26/18 | 5,100 | ||||||||||||
1,993 | Citigroup, Inc. (Banks) | 4.95 | 11/7/43 | 2,222 | ||||||||||||
1,585 | Comcast Corp. (Media) | 4.65 | 7/15/42 | 1,735 | ||||||||||||
2,495 | Continental Resources, Inc. (Oil, Gas & Consumable Fuels), Callable 3/1/24 @ 100.00 | 3.80 | 6/1/24 | 2,232 | ||||||||||||
1,901 | Delphi Corp. (Auto Components), Callable 12/15/23 @ 100.00 | 4.15 | 3/15/24 | 1,965 | ||||||||||||
1,088 | Digital Realty Trust LP (Real Estate Investment Trusts), Callable 12/15/20 @ 100.00 | 5.25 | 3/15/21 | 1,192 | ||||||||||||
2,833 | Digital Realty Trust LP (Real Estate Investment Trusts) ˆ | 5.88 | 2/1/20 | 3,169 | ||||||||||||
592 | DIRECTV Holdings LLC (Media), Callable 10/15/24 @ 100.00 | 3.95 | 1/15/25 | 597 | ||||||||||||
1,016 | Dominion Resources, Inc. (Multi-Utilities) | 1.95 | 8/15/16 | 1,027 | ||||||||||||
376 | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels), Callable 9/15/43 @ 100.00 | 4.85 | 3/15/44 | 392 | ||||||||||||
2,731 | ERAC USA Finance Co. (Commercial Services & Supplies) (a) | 5.25 | 10/1/20 | 3,075 | ||||||||||||
658 | ERAC USA Finance Co. (Commercial Services & Supplies) (a) | 5.60 | 5/1/15 | 668 | ||||||||||||
1,883 | ERAC USA Finance LLC (Commercial Services & Supplies) (a) | 2.80 | 11/1/18 | 1,923 | ||||||||||||
1,727 | Exelon Generation Co. LLC (Independent Power and Renewable Electricity Producers) | 6.20 | 10/1/17 | 1,919 | ||||||||||||
3,543 | Ford Motor Credit Co. LLC (Diversified Financial Services) | 5.00 | 5/15/18 | 3,850 | ||||||||||||
3,335 | General Electric Capital Corp., Series G, MTN (Diversified Financial Services), Callable 2/13/24 @ 100.00 | 3.45 | 5/15/24 | 3,446 | ||||||||||||
835 | General Electric Co. (Industrial Conglomerates) | 4.13 | 10/9/42 | 864 | ||||||||||||
993 | General Electric Co. (Industrial Conglomerates) | 5.25 | 12/6/17 | 1,102 | ||||||||||||
1,040 | Gilead Sciences, Inc. (Biotechnology), Callable 8/1/44 @ 100.00 | 4.50 | 2/1/45 | 1,112 | ||||||||||||
1,308 | Goldman Sachs Group, Inc. (Capital Markets) | 2.55 | 10/23/19 | 1,303 | ||||||||||||
1,956 | Goldman Sachs Group, Inc. (Capital Markets) | 2.63 | 1/31/19 | 1,968 | ||||||||||||
1,265 | HSBC USA, Inc. (Banks) | 2.38 | 11/13/19 | 1,265 | ||||||||||||
1,346 | Intel Corp. (Semiconductors & Semiconductor Equipment) | 1.95 | 10/1/16 | 1,372 | ||||||||||||
3,388 | JPMorgan Chase & Co. (Banks) | 4.13 | 12/15/26 | 3,391 | ||||||||||||
3,221 | JPMorgan Chase & Co., Series V (Banks), Callable 7/1/19 @ 100.00, Perpetual Bond (b) | 5.00 | — | 3,152 |
See accompanying notes to financial statements.
162
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$4,686 | Kinder Morgan Energy Partners LP (Oil, Gas & Consumable Fuels), Callable 2/15/42 @ 100.00 | 5.00 | 8/15/42 | $ | 4,454 | |||||||||||
1,618 | Kohl’s Corp. (Multiline Retail) | 6.88 | 12/15/37 | 2,043 | ||||||||||||
2,742 | L-3 Communications Corp. (Aerospace & Defense), Callable 2/28/24 @ 100.00 | 3.95 | 5/28/24 | 2,765 | ||||||||||||
4,114 | Lazard Group LLC (Diversified Financial Services) | 4.25 | 11/14/20 | 4,336 | ||||||||||||
2,581 | Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels), Callable 3/15/54 @ 100.00 | 5.00 | 9/15/54 | 2,430 | ||||||||||||
1,360 | MassMutual Global Funding LLC (Diversified Financial Services) (a) | 2.00 | 4/5/17 | 1,379 | ||||||||||||
620 | Medtronic, Inc. (Health Care Equipment & Supplies) (a) | 3.50 | 3/15/25 | 634 | ||||||||||||
1,594 | Medtronic, Inc. (Health Care Equipment & Supplies) (a) | 4.63 | 3/15/45 | 1,728 | ||||||||||||
1,105 | MidAmerican Energy Holdings Co. (Multi-Utilities) | 6.13 | 4/1/36 | 1,388 | ||||||||||||
3,503 | Morgan Stanley (Capital Markets) | 3.70 | 10/23/24 | 3,551 | ||||||||||||
1,266 | Morgan Stanley, Series F (Capital Markets) | 3.88 | 4/29/24 | 1,299 | ||||||||||||
1,372 | Newmont Mining Corp. (Metals & Mining) | 6.25 | 10/1/39 | 1,392 | ||||||||||||
1,181 | Pacific Gas & Electric Co. (Electric Utilities), Callable 5/15/43 @ 100.00 | 5.13 | 11/15/43 | 1,353 | ||||||||||||
1,274 | Reinsurance Group of America, Inc. (Insurance) | 4.70 | 9/15/23 | 1,369 | ||||||||||||
5,884 | Roche Holding, Inc. (Pharmaceuticals), Callable 8/30/19 @ 100.00 (a) | 2.25 | 9/30/19 | 5,921 | ||||||||||||
3,088 | Sabmiller Holdings, Inc. (Beverages) (a) | 2.45 | 1/15/17 | 3,151 | ||||||||||||
2,173 | Teva Pharmaceutical Finance Co. LLC (Pharmaceuticals) | 6.15 | 2/1/36 | 2,688 | ||||||||||||
1,876 | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), Callable 8/1/43 @ 100.00 | 5.30 | 2/1/44 | 2,155 | ||||||||||||
455 | TIAA Asset Management Finance Co. LLC (Insurance) (a) | 2.95 | 11/1/19 | 456 | ||||||||||||
1,347 | TIAA Asset Management Finance Co. LLC (Insurance) (a) | 4.13 | 11/1/24 | 1,380 | ||||||||||||
838 | Time Warner Cable, Inc. (Media), Callable 3/15/42 @ 100.00 | 4.50 | 9/15/42 | 861 | ||||||||||||
3,315 | Toyota Motor Credit Corp., MTN (Consumer Finance) | 3.20 | 6/17/15 | 3,356 | ||||||||||||
3,314 | U.S. Bancorp, MTN (Banks), Callable 8/11/24 @ 100.00 | 3.60 | 9/11/24 | 3,365 | ||||||||||||
3,021 | U.S. Bank NA, Series BKNT (Banks), Callable 12/30/16 @ 100.00 | 1.10 | 1/30/17 | 3,018 | ||||||||||||
596 | Union Pacific Corp. (Road & Rail), Callable 7/15/44 @ 100.00 | 4.15 | 1/15/45 | 621 | ||||||||||||
2,959 | United Airlines Pass Through Trust, Series 2014-1, Class A (Airlines) | 4.00 | 10/11/27 | 3,003 | ||||||||||||
836 | UnitedHealth Group, Inc. (Health Care Providers & Services), Callable 9/15/42 @ 100.00 | 4.25 | 3/15/43 | 876 | ||||||||||||
6,825 | Verizon Communications, Inc. (Diversified Telecommunication Services) (a) | 5.01 | 8/21/54 | 7,061 | ||||||||||||
4,415 | Wal-Mart Stores, Inc. (Food & Staples Retailing) | 1.95 | 12/15/18 | 4,472 | ||||||||||||
Total Corporate Bonds | 177,047 | |||||||||||||||
Yankee Dollars — 12.49% | ||||||||||||||||
1,507 | AXIS Specialty Finance PLC (Insurance) | 5.15 | 4/1/45 | 1,632 | ||||||||||||
1,556 | Barrick (PD) Australia Finance Pty Ltd. (Metals & Mining) | 5.95 | 10/15/39 | 1,491 | ||||||||||||
1,507 | Barrick International (Barbados) Corp. (Metals & Mining) (a) | 6.35 | 10/15/36 | 1,534 | ||||||||||||
2,043 | BP Capital Markets PLC (Oil, Gas & Consumable Fuels) | 2.25 | 11/1/16 | 2,083 | ||||||||||||
2,038 | Credit Suisse NY (Capital Markets) | 3.63 | 9/9/24 | 2,073 | ||||||||||||
1,512 | Ensco PLC (Energy Equipment & Services), Callable 4/1/44 @ 100.00 ˆ | 5.75 | 10/1/44 | 1,517 | ||||||||||||
831 | Fairfax Financial Holdings Ltd. (Insurance) (a) | 5.80 | 5/15/21 | 891 | ||||||||||||
2,611 | Japan Tobacco, Inc. (Tobacco) (a) | 2.10 | 7/23/18 | 2,635 | ||||||||||||
2,049 | TSMC Global Ltd. (Semiconductors & Semiconductor Equipment) (a) | 1.63 | 4/3/18 | 2,011 | ||||||||||||
3,494 | UBS AG (Capital Markets) | 2.38 | 8/14/19 | 3,494 | ||||||||||||
2,399 | Volkswagen International Finance NV (Automobiles) (a) | 2.38 | 3/22/17 | 2,444 | ||||||||||||
707 | Weatherford Bermuda Holdings Ltd. (Energy Equipment & Services) | 5.13 | 9/15/20 | 695 | ||||||||||||
1,949 | Weatherford Bermuda Holdings Ltd. (Energy Equipment & Services), Callable 10/17/41 @ 100.00 | 5.95 | 4/15/42 | 1,650 | ||||||||||||
1,799 | Weatherford International Ltd. (Energy Equipment & Services) | 6.50 | 8/1/36 | 1,648 | ||||||||||||
2,034 | Wesfarmers Ltd. (Food & Staples Retailing) (a) | 1.87 | 3/20/18 | 2,027 | ||||||||||||
2,980 | Woodside Finance Ltd. (Oil, Gas & Consumable Fuels), Callable 2/10/21 @ 100.00 (a) | 4.60 | 5/10/21 | 3,174 | ||||||||||||
Total Yankee Dollars | 30,999 |
See accompanying notes to financial statements.
163
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Mutual Funds — 15.17% | ||||||||||||||||
31,997,018 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares (c) | 0.00 | $ | 31,997 | ||||||||||||
5,662,246 | SSgA U.S. Government Money Market Fund (c) | 0.00 | 5,662 | |||||||||||||
Total Mutual Funds | 37,659 | |||||||||||||||
Total Investments (cost $242,200) — 98.96% | 245,705 | |||||||||||||||
Other assets in excess of liabilities — 1.04% | 2,573 | |||||||||||||||
Net Assets — 100.00% | $ | 248,278 |
ˆ | All or part of this security was on loan as of December 31, 2014. The total value of securities on loan as of December 31, 2014, was $4,451 (amount in thousands). |
(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, 2014. |
MTN — Medium Term Note
See accompanying notes to financial statements.
164
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Asset Backed Securities — 1.50% | ||||||||||||||||
$100 | American Express Credit Account Master Trust, Series 2012-5, Class A | 0.59 | 5/15/18 | $ | 100 | |||||||||||
100 | AmeriCredit Automobile Receivables Trust, Series 2013-5, Class A3 | 0.90 | 9/8/18 | 100 | ||||||||||||
70 | Capital Auto Receivables Asset Trust, Series 2014-2, Class A3 | 1.26 | 5/21/18 | 70 | ||||||||||||
600 | Capital One Multi-Asset Execution Trust, Series 2006-A3, Class A3 | 5.05 | 12/17/18 | 629 | ||||||||||||
100 | CarMax Auto Owner Trust, Series 2012-2, Class A4 | 1.16 | 12/15/17 | 100 | ||||||||||||
195 | CarMax Auto Trust, Series 2014-1, Class A3 | 0.79 | 10/15/18 | 194 | ||||||||||||
300 | Chase Issuance Trust (CHAIT), Series 2014-A1, Class A1 | 1.15 | 1/15/19 | 300 | ||||||||||||
250 | Chase Issuance Trust (CHAIT), Series 2012-A7, Class A7 | 2.16 | 9/16/24 | 241 | ||||||||||||
300 | Citibank Credit Card Issuance Trust, Series 2014-A2, Class A2 | 1.02 | 2/22/19 | 299 | ||||||||||||
100 | Citibank Credit Card Issuance Trust, Series 2014-A1, Class A1 | 2.88 | 1/23/23 | 103 | ||||||||||||
250 | Discover Card Execution Note Trust, Series 2013-A2, Class A2 | 0.69 | 8/15/18 | 250 | ||||||||||||
200 | Discover Card Execution Note Trust, Series 2014-A4, Class A4 | 2.12 | 12/15/21 | 200 | ||||||||||||
195 | Fifth Third Auto Trust, Series 2014-3, Class A3 | 0.96 | 3/15/19 | 194 | ||||||||||||
225 | Ford Credit Auto Owner Trust, Series 2013-C, Class A4 | 1.25 | 10/15/18 | 226 | ||||||||||||
300 | Honda Auto Receivables Owner Trust, Series 2014-3, Class A3 | 0.88 | 6/15/18 | 299 | ||||||||||||
62 | Mercedes-Benz Auto Lease Trust, Series 2013-A, Class A3 | 0.59 | 2/15/16 | 62 | ||||||||||||
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 | 351 | ||||||||||||
200 | Santander Drive Auto Receivables Trust, Series 2014-3, Class C | 2.13 | 8/17/20 | 199 | ||||||||||||
Total Asset Backed Securities | 4,127 | |||||||||||||||
Collateralized Mortgage Obligations — 5.46% | ||||||||||||||||
250 | Citigroup Commercial Mortgage Trust, Series 2014-GC19, Class A2 | 2.79 | 3/10/47 | 256 | ||||||||||||
250 | Citigroup Commercial Mortgage Trust, Series 2014-GC23, Class A4 | 3.62 | 7/10/47 | 261 | ||||||||||||
500 | Commercial Mortgage Trust, Series 2012-CR1, Class A2 | 2.35 | 5/15/45 | 508 | ||||||||||||
100 | Commercial Mortgage Trust, Series 2014-LC15, Class A2 | 2.84 | 4/10/47 | 103 | ||||||||||||
500 | Commercial Mortgage Trust, Series 2013-CR8, Class A5 (a) | 3.61 | 6/10/46 | 524 | ||||||||||||
250 | Commercial Mortgage Trust, Series 2014-UBS3, Class A4 | 3.82 | 6/10/47 | 265 | ||||||||||||
100 | Commercial Mortgage Trust, Series 2013-CR11, Class B (a) | 5.33 | 10/10/46 | 113 | ||||||||||||
316 | CS First Boston Mortgage Securities Corp., Series 2005-C6, Class A4 (a) | 5.23 | 10/15/15 | 322 | ||||||||||||
38 | Fannie Mae, Series 2013-M14, Class APT (a) | 2.59 | 4/25/23 | 38 | ||||||||||||
300 | Fannie Mae, Series 2012-M1, Class A2 | 2.73 | 10/25/21 | 305 | ||||||||||||
160 | Fannie Mae, Series 2014-M3, Class AB2 (a) | 3.46 | 1/25/24 | 168 | ||||||||||||
154 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K714, Class A1 | 2.08 | 12/25/19 | 156 | ||||||||||||
400 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K027, Class A2 | 2.64 | 1/25/23 | 402 | ||||||||||||
150 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K017, Class A2 | 2.87 | 12/25/21 | 155 | ||||||||||||
112 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class A1 | 3.02 | 2/25/23 | 117 | ||||||||||||
200 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K033, Class A2 (a) | 3.06 | 7/25/23 | 206 | ||||||||||||
200 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class A2 (a) | 3.31 | 5/25/23 | 210 | ||||||||||||
360 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K014, Class A2 | 3.87 | 4/25/21 | 392 | ||||||||||||
225 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K012, Class A2 | 4.19 | 12/25/20 | 248 | ||||||||||||
110 | Greenwich Capital Commercial Funding Corp., Series 2005-GG5, Class AM (a) | 5.28 | 4/10/37 | 112 | ||||||||||||
385 | Greenwich Capital Commercial Funding Corp., Series 2006-GG7, Class A4 (a) | 6.01 | 7/10/38 | 403 | ||||||||||||
300 | GS Mortgage Securities Trust, Series 2013-GC14, Class A5 | 4.24 | 8/10/46 | 328 | ||||||||||||
200 | JPMBB Commercial Mortgage Securities Trust, Series 2014-C21, Class A5 | 3.77 | 8/15/47 | 212 | ||||||||||||
200 | JPMBB Commercial Mortgage Securities Trust, Series 2013-C15, Class A5 | 4.13 | 11/15/45 | 218 | ||||||||||||
193 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2013-LC11, Class A2 | 1.85 | 4/15/46 | 193 |
See accompanying notes to financial statements.
165
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Collateralized Mortgage Obligations (continued) | ||||||||||||||||
$1,000 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2012-C8, Class A3 | 2.83 | 10/15/45 | $ | 998 | |||||||||||
220 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2014-C18, Class A5 | 4.08 | 2/15/47 | 238 | ||||||||||||
115 | LB-UBS Commercial Mortgage Trust, Series 2006-C7, Class AM | 5.38 | 10/15/16 | 122 | ||||||||||||
446 | Merrill Lynch Mortgage Trust, Series 2006-C2, Class A4 (a) | 5.74 | 8/12/43 | 471 | ||||||||||||
247 | Merrill Lynch Mortgage Trust, Series 2007-C1, Class A3 (a) | 6.03 | 11/12/16 | 247 | ||||||||||||
250 | Morgan Stanley BAML Trust, Series 2013-C11, Class A2 | 3.09 | 8/15/46 | 260 | ||||||||||||
100 | Morgan Stanley BAML Trust, Series 2014-C17, Class A5 | 3.74 | 8/15/47 | 105 | ||||||||||||
1,545 | Morgan Stanley Capital I, Series 2007-HQ11, Class A4 (a) | 5.45 | 2/12/44 | 1,647 | ||||||||||||
827 | Morgan Stanley Capital I, Series 2006-HQ9, Class A4 (a) | 5.73 | 7/12/44 | 868 | ||||||||||||
1,267 | Morgan Stanley Capital I, Series 2007-IQ15, Class A4 (a) | 5.91 | 7/11/17 | 1,377 | ||||||||||||
250 | UBS Commercial Mortgage Trust, Series 2012-C1, Class AAB | 3.00 | 5/10/45 | 258 | ||||||||||||
1,000 | Wachovia Bank Commercial Mortgage Trust, Series 2006-C26, Class A3 (a) | 6.01 | 6/15/45 | 1,053 | ||||||||||||
185 | Wells Fargo Commercial Mortgage Trust, Series 2014-LC16, Class A5 | 3.82 | 8/15/50 | 196 | ||||||||||||
131 | WF-RBS Commercial Mortgage Trust, Series 2014-LC14, Class A1 | 1.19 | 3/15/47 | 130 | ||||||||||||
500 | WF-RBS Commercial Mortgage Trust, Series 2013-C11, Class A2 | 2.03 | 3/15/45 | 504 | ||||||||||||
300 | WF-RBS Commercial Mortgage Trust, Series 2013-C14, Class ASB | 2.98 | 6/15/46 | 306 | ||||||||||||
Total Collateralized Mortgage Obligations | 14,995 | |||||||||||||||
U.S. Government Agency Mortgages — 80.62% | ||||||||||||||||
95 | Fannie Mae, Pool #AS0001 | 2.00 | 7/1/28 | 95 | ||||||||||||
497 | Fannie Mae, Pool #AS1058 | 2.00 | 11/1/28 | 495 | ||||||||||||
333 | Fannie Mae, Pool #AU4798 | 2.50 | 9/1/28 | 339 | ||||||||||||
525 | Fannie Mae, Pool #AX2403 | 2.50 | 9/1/29 | 535 | ||||||||||||
203 | Fannie Mae, Pool #AU6387 | 2.50 | 11/1/28 | 207 | ||||||||||||
683 | Fannie Mae, Pool #AO3019 | 2.50 | 5/1/27 | 697 | ||||||||||||
443 | Fannie Mae, Pool #AU2619 | 2.50 | 8/1/28 | 452 | ||||||||||||
91 | Fannie Mae, Pool #MA1511 | 2.50 | 7/1/33 | 91 | ||||||||||||
189 | Fannie Mae, Pool #AS0513 | 2.50 | 8/1/43 | 185 | ||||||||||||
834 | Fannie Mae, Pool #MA1277 | 2.50 | 12/1/27 | 851 | ||||||||||||
90 | Fannie Mae, Pool #MA1270 | 2.50 | 11/1/32 | 90 | ||||||||||||
892 | Fannie Mae, Pool #MA1210 | 2.50 | 9/1/49 | 911 | ||||||||||||
300 | Fannie Mae, Pool #AU5334 | 2.50 | 11/1/28 | 306 | ||||||||||||
735 | Fannie Mae, Pool #AP4742 | 2.50 | 8/1/27 | 750 | ||||||||||||
284 | Fannie Mae, Pool #AB7391 | 2.50 | 12/1/42 | 278 | ||||||||||||
84 | Fannie Mae, Pool #AL4360 (a) | 2.72 | 11/1/43 | 86 | ||||||||||||
189 | Fannie Mae, Pool #AL5800 (a) | 2.73 | 2/1/44 | 195 | ||||||||||||
362 | Fannie Mae, Pool #MA1527 | 3.00 | 8/1/33 | 374 | ||||||||||||
2,031 | Fannie Mae, Pool #AB7099 | 3.00 | 11/1/42 | 2,059 | ||||||||||||
456 | Fannie Mae, Pool #AK8522 | 3.00 | 3/1/27 | 475 | ||||||||||||
99 | Fannie Mae, Pool #MA2087 | 3.00 | 11/1/34 | 102 | ||||||||||||
1,176 | Fannie Mae, Pool #AK3302 | 3.00 | 3/1/27 | 1,226 | ||||||||||||
449 | Fannie Mae, Pool #AS1527 | 3.00 | 1/1/29 | 467 | ||||||||||||
726 | Fannie Mae, Pool #AK0006 | 3.00 | 1/1/27 | 757 | ||||||||||||
559 | Fannie Mae, Pool #AP8746 | 3.00 | 10/1/42 | 567 | ||||||||||||
754 | Fannie Mae, Pool #MA1307 | 3.00 | 1/1/33 | 780 | ||||||||||||
574 | Fannie Mae, Pool #AB4483 | 3.00 | 2/1/27 | 598 | ||||||||||||
173 | Fannie Mae, Pool #MA1338 | 3.00 | 2/1/33 | 179 |
See accompanying notes to financial statements.
166
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$552 | Fannie Mae, Pool #AB8897 | 3.00 | 4/1/43 | $ | 559 | |||||||||||
296 | Fannie Mae, Pool #AW7383 | 3.00 | 8/1/29 | 308 | ||||||||||||
296 | Fannie Mae, Pool #AQ3223 | 3.00 | 11/1/27 | 308 | ||||||||||||
1,227 | Fannie Mae, Pool #AO0752 | 3.00 | 4/1/42 | 1,244 | ||||||||||||
550 | Fannie Mae, Pool #AT2127 | 3.00 | 4/1/43 | 557 | ||||||||||||
945 | Fannie Mae, Pool #AP2465 | 3.00 | 8/1/42 | 958 | ||||||||||||
194 | Fannie Mae, Pool #AW8295 | 3.00 | 8/1/29 | 202 | ||||||||||||
165 | Fannie Mae, Pool #AU7890 | 3.00 | 9/1/28 | 172 | ||||||||||||
1,082 | Fannie Mae, Pool #AP6493 | 3.00 | 9/1/42 | 1,096 | ||||||||||||
1,943 | Fannie Mae, Pool #AP6375 | 3.00 | 9/1/42 | 1,970 | ||||||||||||
67 | Fannie Mae, Pool #AR7426 | 3.00 | 7/1/43 | 67 | ||||||||||||
2,269 | Fannie Mae, Pool #AQ7920 | 3.00 | 12/1/42 | 2,300 | ||||||||||||
482 | Fannie Mae, Pool #AT7263 | 3.00 | 9/1/43 | 488 | ||||||||||||
211 | Fannie Mae, Pool #AT7311 | 3.00 | 7/1/43 | 213 | ||||||||||||
264 | Fannie Mae, Pool #MA1401 | 3.00 | 4/1/33 | 273 | ||||||||||||
293 | Fannie Mae, Pool #AS2312 | 3.00 | 5/1/29 | 305 | ||||||||||||
91 | Fannie Mae, Pool #AT1575 | 3.00 | 5/1/43 | 92 | ||||||||||||
195 | Fannie Mae, Pool #AS3117 | 3.00 | 8/1/29 | 203 | ||||||||||||
627 | Fannie Mae, Pool #AU3735 | 3.00 | 8/1/43 | 635 | ||||||||||||
554 | Fannie Mae, Pool #AT0682 | 3.00 | 4/1/43 | 561 | ||||||||||||
624 | Fannie Mae, Pool #MA1059 | 3.50 | 5/1/32 | 658 | ||||||||||||
3,381 | Fannie Mae, Pool #AK7497 | 3.50 | 4/1/42 | 3,530 | ||||||||||||
45 | Fannie Mae, Pool #AJ6181 | 3.50 | 12/1/26 | 48 | ||||||||||||
165 | Fannie Mae, Pool #AK0706 | 3.50 | 2/1/27 | 175 | ||||||||||||
500 | Fannie Mae, Pool #AX1913 | 3.50 | 1/1/22 | 529 | ||||||||||||
229 | Fannie Mae, Pool #MA1889 | 3.50 | 5/1/34 | 241 | ||||||||||||
2,180 | Fannie Mae, Pool #AB6017 | 3.50 | 8/1/42 | 2,275 | ||||||||||||
632 | Fannie Mae, Pool #MA1107 | 3.50 | 7/1/32 | 667 | ||||||||||||
59 | Fannie Mae, Pool #MA1021 | 3.50 | 3/1/27 | 63 | ||||||||||||
863 | Fannie Mae, Pool #AB4689 | 3.50 | 3/1/42 | 901 | ||||||||||||
2,963 | Fannie Mae, Pool #AO8137 | 3.50 | 8/1/42 | 3,093 | ||||||||||||
735 | Fannie Mae, Pool #AO3760 | 3.50 | 5/1/42 | 768 | ||||||||||||
1,769 | Fannie Mae, Pool #AL1717 | 3.50 | 5/1/27 | 1,871 | ||||||||||||
87 | Fannie Mae, Pool #AP9390 | 3.50 | 10/1/42 | 91 | ||||||||||||
2,291 | Fannie Mae, Pool #AO2548 | 3.50 | 4/1/42 | 2,392 | ||||||||||||
898 | Fannie Mae, Pool #AQ0546 | 3.50 | 11/1/42 | 937 | ||||||||||||
83 | Fannie Mae, Pool #AH3394 | 4.00 | 1/1/41 | 89 | ||||||||||||
2,408 | Fannie Mae, Pool #AH6242 | 4.00 | 4/1/26 | 2,579 | ||||||||||||
2,716 | Fannie Mae, Pool #190405 | 4.00 | 10/1/40 | 2,904 | ||||||||||||
168 | Fannie Mae, Pool #AB6027 | 4.00 | 8/1/42 | 179 | ||||||||||||
372 | Fannie Mae, Pool #AT3872 | 4.00 | 6/1/43 | 397 | ||||||||||||
451 | Fannie Mae, Pool #AO2959 | 4.00 | 5/1/42 | 482 | ||||||||||||
929 | Fannie Mae, Pool #AS0531 | 4.00 | 9/1/43 | 998 | ||||||||||||
725 | Fannie Mae, Pool #AH5859 | 4.00 | 2/1/41 | 775 | ||||||||||||
750 | Fannie Mae, Pool #AC7328 | 4.00 | 12/1/39 | 802 | ||||||||||||
1,251 | Fannie Mae, Pool #AJ5303 | 4.00 | 11/1/41 | 1,336 |
See accompanying notes to financial statements.
167
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$1,661 | Fannie Mae, Pool #AJ7689 | 4.00 | 12/1/41 | $ | 1,775 | |||||||||||
593 | Fannie Mae, Pool #MA0641 | 4.00 | 2/1/31 | 639 | ||||||||||||
265 | Fannie Mae, Pool #MA0493 | 4.00 | 8/1/30 | 285 | ||||||||||||
1,166 | Fannie Mae, Pool #AJ7857 | 4.00 | 12/1/41 | 1,246 | ||||||||||||
495 | Fannie Mae, Pool #AI6016 | 4.00 | 7/1/41 | 529 | ||||||||||||
431 | Fannie Mae, Pool #MA0481 | 4.50 | 8/1/30 | 471 | ||||||||||||
400 | Fannie Mae, Pool #AS0861 | 4.50 | 10/1/43 | 434 | ||||||||||||
2 | Fannie Mae, Pool #AB0390 | 4.50 | 3/1/15 | 2 | ||||||||||||
95 | Fannie Mae, Pool #AB1470 | 4.50 | 9/1/40 | 104 | ||||||||||||
249 | Fannie Mae, Pool #AB1389 | 4.50 | 8/1/40 | 270 | ||||||||||||
1,231 | Fannie Mae, Pool #AL1107 | 4.50 | 11/1/41 | 1,337 | ||||||||||||
100 | Fannie Mae, Pool #AW7048 | 4.50 | 6/1/44 | 109 | ||||||||||||
401 | Fannie Mae, Pool #AA9781 | 4.50 | 7/1/24 | 433 | ||||||||||||
8 | Fannie Mae, Pool #AB0388 | 4.50 | 4/1/19 | 9 | ||||||||||||
251 | Fannie Mae, Pool #AU5302 | 4.50 | 10/1/43 | 274 | ||||||||||||
120 | Fannie Mae, Pool #AA0860 | 4.50 | 1/1/39 | 130 | ||||||||||||
111 | Fannie Mae, Pool #982892 | 4.50 | 5/1/23 | 120 | ||||||||||||
811 | Fannie Mae, Pool #AL4450 | 4.50 | 12/1/43 | 880 | ||||||||||||
3,923 | Fannie Mae, Pool #AH7521 | 4.50 | 3/1/41 | 4,263 | ||||||||||||
604 | Fannie Mae, Pool #AI4815 | 4.50 | 6/1/41 | 656 | ||||||||||||
1,172 | Fannie Mae, Pool #AH9055 | 4.50 | 4/1/41 | 1,274 | ||||||||||||
95 | Fannie Mae, Pool #AH6790 | 4.50 | 3/1/41 | 104 | ||||||||||||
297 | Fannie Mae, Pool #254720 | 4.50 | 5/1/18 | 312 | ||||||||||||
76 | Fannie Mae, Pool #310112 | 4.50 | 6/1/19 | 80 | ||||||||||||
532 | Fannie Mae, Pool #AB3192 | 4.50 | 6/1/41 | 578 | ||||||||||||
212 | Fannie Mae, Pool #725504 | 5.00 | 1/1/19 | 227 | ||||||||||||
100 | Fannie Mae, Pool #890603 | 5.00 | 8/1/41 | 110 | ||||||||||||
100 | Fannie Mae, Pool #AL3272 | 5.00 | 2/1/25 | 110 | ||||||||||||
2,106 | Fannie Mae, Pool #889117 | 5.00 | 10/1/35 | 2,333 | ||||||||||||
114 | Fannie Mae, Pool #725238 | 5.00 | 3/1/34 | 126 | ||||||||||||
1 | Fannie Mae, Pool #650196 | 5.00 | 11/1/17 | 1 | ||||||||||||
300 | Fannie Mae, Pool #AS0575 | 5.00 | 9/1/43 | 331 | ||||||||||||
2,547 | Fannie Mae, Pool #AH5988 | 5.00 | 3/1/41 | 2,824 | ||||||||||||
139 | Fannie Mae, Pool #MA0184 | 5.00 | 9/1/29 | 154 | ||||||||||||
5 | Fannie Mae, Pool #868986 | 5.00 | 5/1/21 | 5 | ||||||||||||
324 | Fannie Mae, Pool #796663 | 5.00 | 9/1/19 | 348 | ||||||||||||
11 | Fannie Mae, Pool #A69671 | 5.50 | 12/1/37 | 12 | ||||||||||||
5 | Fannie Mae, Pool #A79636 | 5.50 | 7/1/38 | 5 | ||||||||||||
144 | Fannie Mae, Pool #976945 | 5.50 | 2/1/23 | 157 | ||||||||||||
177 | Fannie Mae, Pool #949500 | 5.50 | 9/1/22 | 193 | ||||||||||||
3,202 | Fannie Mae, Pool #890221 | 5.50 | 12/1/33 | 3,612 | ||||||||||||
75 | Fannie Mae, Pool #909662 | 5.50 | 2/1/22 | 82 | ||||||||||||
5 | Fannie Mae, Pool #630942 | 5.50 | 2/1/17 | 5 | ||||||||||||
121 | Fannie Mae, Pool #545400 | 5.50 | 1/1/17 | 128 | ||||||||||||
39 | Fannie Mae, Pool #545900 | 5.50 | 7/1/17 | 41 | ||||||||||||
516 | Fannie Mae, Pool #AD0527 | 5.50 | 6/1/39 | 577 |
See accompanying notes to financial statements.
168
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$59 | Fannie Mae, Pool #627241 | 5.50 | 9/1/17 | $ | 63 | |||||||||||
76 | Fannie Mae, Pool #AL0725 | 5.50 | 6/1/24 | 81 | ||||||||||||
17 | Fannie Mae, Pool #625938 | 5.50 | 3/1/17 | 18 | ||||||||||||
2,012 | Fannie Mae, Pool #725228 | 6.00 | 3/1/34 | 2,312 | ||||||||||||
381 | Fannie Mae, Pool #AL0583 | 6.50 | 10/1/39 | 434 | ||||||||||||
126 | Fannie Mae, Pool #888596 | 6.50 | 7/1/37 | 144 | ||||||||||||
624 | Fannie Mae, Pool #AE0442 | 6.50 | 1/1/39 | 711 | ||||||||||||
533 | Fannie Mae, Pool #889984 | 6.50 | 10/1/38 | 607 | ||||||||||||
200 | Fannie Mae, 15 YR TBA | 2.00 | 1/25/30 | 199 | ||||||||||||
600 | Fannie Mae, 15 YR TBA | 2.50 | 1/25/29 | 611 | ||||||||||||
200 | Fannie Mae, 15 YR TBA | 3.00 | 1/25/30 | 208 | ||||||||||||
100 | Fannie Mae, 15 YR TBA | 3.00 | 2/25/30 | 104 | ||||||||||||
550 | Fannie Mae, 15 YR TBA | 3.50 | 1/25/30 | 581 | ||||||||||||
800 | Fannie Mae, 30 YR TBA | 3.00 | 1/25/45 | 809 | ||||||||||||
2,750 | Fannie Mae, 30 YR TBA | 3.50 | 1/25/45 | 2,867 | ||||||||||||
300 | Fannie Mae, 30 YR TBA | 3.50 | 2/25/45 | 312 | ||||||||||||
5,650 | Fannie Mae, 30 YR TBA | 4.00 | 1/25/45 | 6,031 | ||||||||||||
1,500 | Fannie Mae, 30 YR TBA | 4.00 | 2/25/44 | 1,597 | ||||||||||||
300 | Fannie Mae, 30 YR TBA | 4.50 | 1/25/44 | 326 | ||||||||||||
200 | Fannie Mae, 30 YR TBA | 5.00 | 1/25/45 | 221 | ||||||||||||
99 | Freddie Mac, Pool #J25759 | 2.00 | 8/1/28 | 99 | ||||||||||||
495 | Freddie Mac, Pool #J25777 | 2.00 | 9/1/28 | 494 | ||||||||||||
434 | Freddie Mac, Pool #849138 (a) | 2.45 | 10/1/43 | 443 | ||||||||||||
483 | Freddie Mac, Pool #J26408 | 2.50 | 11/1/28 | 492 | ||||||||||||
298 | Freddie Mac, Pool #J22874 | 2.50 | 3/1/28 | 303 | ||||||||||||
178 | Freddie Mac, Pool #G18485 | 2.50 | 10/1/28 | 181 | ||||||||||||
430 | Freddie Mac, Pool #J18954 | 2.50 | 4/1/27 | 438 | ||||||||||||
183 | Freddie Mac, Pool #J25585 | 2.50 | 9/1/28 | 186 | ||||||||||||
415 | Freddie Mac, Pool #G18459 | 2.50 | 3/1/28 | 423 | ||||||||||||
61 | Freddie Mac, Pool #G18472 | 2.50 | 7/1/28 | 63 | ||||||||||||
449 | Freddie Mac, Pool #G18470 | 2.50 | 6/1/28 | 458 | ||||||||||||
519 | Freddie Mac, Pool #J23440 | 2.50 | 4/1/28 | 529 | ||||||||||||
433 | Freddie Mac, Pool #J25016 | 2.50 | 8/1/28 | 441 | ||||||||||||
94 | Freddie Mac, Pool #Q20404 | 2.50 | 7/1/43 | 92 | ||||||||||||
1,296 | Freddie Mac, Pool #1B7911 (a) | 2.72 | 12/1/40 | 1,382 | ||||||||||||
559 | Freddie Mac, Pool #Q16222 | 3.00 | 3/1/43 | 566 | ||||||||||||
96 | Freddie Mac, Pool #Q19754 | 3.00 | 7/1/43 | 97 | ||||||||||||
22 | Freddie Mac, Pool #Q13086 | 3.00 | 11/1/42 | 22 | ||||||||||||
422 | Freddie Mac, Pool #C91581 | 3.00 | 11/1/32 | 436 | ||||||||||||
285 | Freddie Mac, Pool #Q20067 | 3.00 | 7/1/43 | 288 | ||||||||||||
324 | Freddie Mac, Pool #Q19752 | 3.00 | 7/1/43 | 327 | ||||||||||||
29 | Freddie Mac, Pool #Q18882 | 3.00 | 5/1/43 | 29 | ||||||||||||
477 | Freddie Mac, Pool #G15145 | 3.00 | 7/1/29 | 495 | ||||||||||||
438 | Freddie Mac, Pool #C04446 | 3.00 | 1/1/43 | 443 | ||||||||||||
332 | Freddie Mac, Pool #C04422 | 3.00 | 12/1/42 | 336 | ||||||||||||
1,957 | Freddie Mac, Pool #G08537 | 3.00 | 7/1/43 | 1,979 |
See accompanying notes to financial statements.
169
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$500 | Freddie Mac, Pool #G15217 | 3.00 | 11/1/29 | $ | 520 | |||||||||||
491 | Freddie Mac, Pool #J28722 | 3.00 | 7/1/29 | 510 | ||||||||||||
100 | Freddie Mac, Pool #J29932 | 3.00 | 11/1/29 | 103 | ||||||||||||
803 | Freddie Mac, Pool #Q21065 | 3.00 | 8/1/43 | 812 | ||||||||||||
93 | Freddie Mac, Pool #Q18599 | 3.00 | 6/1/43 | 94 | ||||||||||||
471 | Freddie Mac, Pool #Q20964 | 3.00 | 8/1/43 | 477 | ||||||||||||
823 | Freddie Mac, Pool #G08534 | 3.00 | 6/1/43 | 833 | ||||||||||||
458 | Freddie Mac, Pool #G08525 | 3.00 | 5/1/43 | 463 | ||||||||||||
469 | Freddie Mac, Pool #C04619 | 3.00 | 3/1/43 | 475 | ||||||||||||
100 | Freddie Mac, Pool #G18534 | 3.00 | 12/1/29 | 104 | ||||||||||||
290 | Freddie Mac, Pool #C91707 | 3.00 | 6/1/33 | 299 | ||||||||||||
277 | Freddie Mac, Pool #C91724 | 3.00 | 9/1/33 | 286 | ||||||||||||
95 | Freddie Mac, Pool #G08540 | 3.00 | 8/1/43 | 96 | ||||||||||||
479 | Freddie Mac, Pool #G18518 | 3.00 | 7/1/29 | 498 | ||||||||||||
398 | Freddie Mac, Pool #G18531 | 3.00 | 11/1/29 | 413 | ||||||||||||
585 | Freddie Mac, Pool #G18514 | 3.00 | 6/1/29 | 608 | ||||||||||||
463 | Freddie Mac, Pool #Q09896 | 3.50 | 8/1/42 | 482 | ||||||||||||
363 | Freddie Mac, Pool #Q08903 | 3.50 | 6/1/42 | 378 | ||||||||||||
493 | Freddie Mac, Pool #C91456 | 3.50 | 6/1/32 | 519 | ||||||||||||
406 | Freddie Mac, Pool #C91403 | 3.50 | 3/1/32 | 427 | ||||||||||||
551 | Freddie Mac, Pool #C09004 | 3.50 | 7/1/42 | 574 | ||||||||||||
198 | Freddie Mac, Pool #G08605 | 3.50 | 9/1/44 | 206 | ||||||||||||
922 | Freddie Mac, Pool #G08554 | 3.50 | 10/1/43 | 960 | ||||||||||||
934 | Freddie Mac, Pool #G08562 | 3.50 | 1/1/44 | 972 | ||||||||||||
490 | Freddie Mac, Pool #J15105 | 3.50 | 4/1/26 | 519 | ||||||||||||
3,136 | Freddie Mac, Pool #G08495 | 3.50 | 6/1/42 | 3,266 | ||||||||||||
486 | Freddie Mac, Pool #Q20860 | 3.50 | 8/1/43 | 506 | ||||||||||||
95 | Freddie Mac, Pool #C03920 | 3.50 | 5/1/42 | 99 | ||||||||||||
197 | Freddie Mac, Pool #G08599 | 3.50 | 8/1/44 | 205 | ||||||||||||
80 | Freddie Mac, Pool #J12435 | 4.00 | 6/1/25 | 85 | ||||||||||||
558 | Freddie Mac, Pool #J11263 | 4.00 | 11/1/19 | 591 | ||||||||||||
4,116 | Freddie Mac, Pool #A96286 | 4.00 | 1/1/41 | 4,393 | ||||||||||||
500 | Freddie Mac, Pool #C09070 | 4.00 | 12/1/44 | 534 | ||||||||||||
412 | Freddie Mac, Pool #G08459 | 4.00 | 9/1/41 | 439 | ||||||||||||
138 | Freddie Mac, Pool #G08483 | 4.00 | 3/1/42 | 148 | ||||||||||||
8 | Freddie Mac, Pool #G14786 | 4.00 | 4/1/19 | 9 | ||||||||||||
179 | Freddie Mac, Pool #C91738 | 4.00 | 11/1/33 | 192 | ||||||||||||
293 | Freddie Mac, Pool #C91765 | 4.00 | 5/1/34 | 315 | ||||||||||||
459 | Freddie Mac, Pool #G08567 | 4.00 | 1/1/44 | 490 | ||||||||||||
346 | Freddie Mac, Pool #G14453 | 4.00 | 6/1/26 | 368 | ||||||||||||
171 | Freddie Mac, Pool #Q04411 | 4.00 | 11/1/41 | 183 | ||||||||||||
472 | Freddie Mac, Pool #Q24955 | 4.00 | 2/1/44 | 506 | ||||||||||||
134 | Freddie Mac, Pool #Q05770 | 4.00 | 1/1/42 | 143 | ||||||||||||
226 | Freddie Mac, Pool #E02862 | 4.50 | 3/1/26 | 244 | ||||||||||||
199 | Freddie Mac, Pool #J09311 | 4.50 | 2/1/24 | 209 | ||||||||||||
105 | Freddie Mac, Pool #J07849 | 4.50 | 5/1/23 | 113 |
See accompanying notes to financial statements.
170
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$5,062 | Freddie Mac, Pool #A97692 | 4.50 | 3/1/41 | $ | 5,495 | |||||||||||
519 | Freddie Mac, Pool #A97495 | 4.50 | 3/1/41 | 563 | ||||||||||||
66 | Freddie Mac, Pool #357316 | 4.50 | 12/1/17 | 69 | ||||||||||||
193 | Freddie Mac, Pool #C09059 | 4.50 | 3/1/44 | 209 | ||||||||||||
222 | Freddie Mac, Pool #J09503 | 4.50 | 4/1/24 | 238 | ||||||||||||
200 | Freddie Mac, Pool #Q25432 | 4.50 | 3/1/44 | 217 | ||||||||||||
37 | Freddie Mac, Pool #1G2883 (a) | 4.89 | 6/1/38 | 39 | ||||||||||||
1,870 | Freddie Mac, Pool #G04913 | 5.00 | 3/1/38 | 2,063 | ||||||||||||
144 | Freddie Mac, Pool #E96297 | 5.00 | 5/1/18 | 151 | ||||||||||||
267 | Freddie Mac, Pool #G13255 | 5.00 | 7/1/23 | 290 | ||||||||||||
100 | Freddie Mac, Pool #C90845 | 5.00 | 8/1/24 | 110 | ||||||||||||
1,560 | Freddie Mac, Pool #C01598 | 5.00 | 8/1/33 | 1,727 | ||||||||||||
200 | Freddie Mac, Pool #G07068 | 5.00 | 7/1/41 | 220 | ||||||||||||
67 | Freddie Mac, Pool #G30414 | 5.50 | 7/1/28 | 75 | ||||||||||||
1,785 | Freddie Mac, Pool #G01665 | 5.50 | 3/1/34 | 2,016 | ||||||||||||
52 | Freddie Mac, Pool #G30371 | 5.50 | 12/1/27 | 58 | ||||||||||||
10 | Freddie Mac, Pool #G06091 | 5.50 | 5/1/40 | 11 | ||||||||||||
459 | Freddie Mac, Pool #G06031 | 5.50 | 3/1/40 | 513 | ||||||||||||
96 | Freddie Mac, Pool #A62706 | 6.00 | 6/1/37 | 108 | ||||||||||||
951 | Freddie Mac, Pool #G02794 | 6.00 | 5/1/37 | 1,080 | ||||||||||||
195 | Freddie Mac, Pool #G03551 | 6.00 | 11/1/37 | 220 | ||||||||||||
114 | Freddie Mac, Pool #G05709 | 6.00 | 6/1/38 | 130 | ||||||||||||
400 | Freddie Mac, Gold 15 YR TBA | 2.50 | 1/15/30 | 407 | ||||||||||||
100 | Freddie Mac, Gold 15 YR TBA | 2.50 | 2/15/30 | 102 | ||||||||||||
2,000 | Freddie Mac, Gold 15 YR TBA | 3.50 | 1/15/44 | 2,080 | ||||||||||||
975 | Freddie Mac, Gold 15 YR TBA | 3.50 | 1/15/30 | 1,029 | ||||||||||||
600 | Freddie Mac, Gold 30 YR TBA | 3.00 | 1/15/44 | 606 | ||||||||||||
400 | Freddie Mac, Gold 30 YR TBA | 3.50 | 2/15/45 | 415 | ||||||||||||
3,750 | Freddie Mac, Gold 30 YR TBA | 4.00 | 1/15/45 | 3,998 | ||||||||||||
100 | Freddie Mac, Gold 30 YR TBA | 4.50 | 1/15/44 | 108 | ||||||||||||
194 | Government National Mortgage Association, Pool #MA0719 (a) | 2.00 | 1/20/43 | 198 | ||||||||||||
188 | Government National Mortgage Association, Pool #MA0483 (a) | 2.00 | 10/20/42 | 194 | ||||||||||||
198 | Government National Mortgage Association, Pool #MA0712 (a) | 2.50 | 1/20/43 | 204 | ||||||||||||
95 | Government National Mortgage Association, Pool #776954 | 2.50 | 11/15/42 | 94 | ||||||||||||
187 | Government National Mortgage Association, Pool #MA1283 | 2.50 | 9/20/43 | 185 | ||||||||||||
166 | Government National Mortgage Association, Pool #AA8341 | 2.50 | 2/15/28 | 170 | ||||||||||||
160 | Government National Mortgage Association, Pool #MA0601 | 2.50 | 12/20/27 | 165 | ||||||||||||
87 | Government National Mortgage Association, Pool #MA1133 | 2.50 | 7/20/28 | 89 | ||||||||||||
88 | Government National Mortgage Association, Pool #MA0908 | 2.50 | 4/20/28 | 91 | ||||||||||||
379 | Government National Mortgage Association, Pool #AD8433 | 3.00 | 7/15/43 | 388 | ||||||||||||
299 | Government National Mortgage Association, Pool #MA0205 | 3.00 | 7/20/27 | 314 | ||||||||||||
602 | Government National Mortgage Association, Pool #MA0391 | 3.00 | 9/20/42 | 616 | ||||||||||||
174 | Government National Mortgage Association, Pool #MA0851 | 3.00 | 3/20/43 | 179 | ||||||||||||
369 | Government National Mortgage Association, Pool #779084 | 3.00 | 4/15/42 | 378 | ||||||||||||
222 | Government National Mortgage Association, Pool #MA0444 | 3.00 | 10/20/27 | 234 | ||||||||||||
459 | Government National Mortgage Association, Pool #MA0461 | 3.00 | 10/20/42 | 469 |
See accompanying notes to financial statements.
171
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$2,896 | Government National Mortgage Association, Pool #MA0624 | 3.00 | 12/20/42 | $ | 2,965 | |||||||||||
456 | Government National Mortgage Association, Pool #AA6149 | 3.00 | 3/20/43 | 467 | ||||||||||||
378 | Government National Mortgage Association, Pool #AA2654 | 3.00 | 6/15/43 | 388 | ||||||||||||
93 | Government National Mortgage Association, Pool #AA2934 | 3.00 | 7/15/42 | 95 | ||||||||||||
984 | Government National Mortgage Association, Pool #MA2147 | 3.00 | 8/20/44 | 1,008 | ||||||||||||
462 | Government National Mortgage Association, Pool #MA1374 | 3.00 | 10/20/43 | 473 | ||||||||||||
173 | Government National Mortgage Association, Pool #MA1265 | 3.00 | 9/20/28 | 182 | ||||||||||||
464 | Government National Mortgage Association, Pool #AG0440 | 3.00 | 8/15/43 | 475 | ||||||||||||
362 | Government National Mortgage Association, Pool #778157 | 3.50 | 3/15/42 | 381 | ||||||||||||
322 | Government National Mortgage Association, Pool #738602 | 3.50 | 8/15/26 | 343 | ||||||||||||
709 | Government National Mortgage Association, Pool #MA0088 | 3.50 | 5/20/42 | 745 | ||||||||||||
810 | Government National Mortgage Association, Pool #MA0852 | 3.50 | 3/20/43 | 852 | ||||||||||||
82 | Government National Mortgage Association, Pool #MA1574 | 3.50 | 1/20/29 | 88 | ||||||||||||
354 | Government National Mortgage Association, Pool #AC3938 | 3.50 | 1/15/43 | 372 | ||||||||||||
1,466 | Government National Mortgage Association, Pool #MA2073 | 3.50 | 7/20/44 | 1,541 | ||||||||||||
99 | Government National Mortgage Association, Pool #740798 | 3.50 | 1/15/42 | 104 | ||||||||||||
2,231 | Government National Mortgage Association, Pool #MA0220 | 3.50 | 7/20/42 | 2,345 | ||||||||||||
50 | Government National Mortgage Association, Pool #MA1266 | 3.50 | 9/20/28 | 53 | ||||||||||||
488 | Government National Mortgage Association, Pool #AD2954 | 3.50 | 7/15/44 | 513 | ||||||||||||
871 | Government National Mortgage Association, Pool #MA1090 | 3.50 | 6/20/43 | 916 | ||||||||||||
1,965 | Government National Mortgage Association, Pool #MA2148 | 3.50 | 8/20/44 | 2,065 | ||||||||||||
922 | Government National Mortgage Association, Pool #MA0462 | 3.50 | 10/20/42 | 970 | ||||||||||||
334 | Government National Mortgage Association, Pool #AD2416 | 3.50 | 5/15/43 | 351 | ||||||||||||
467 | Government National Mortgage Association, Pool #MA1838 | 3.50 | 4/20/44 | 490 | ||||||||||||
839 | Government National Mortgage Association, Pool #MA0934 | 3.50 | 4/20/43 | 882 | ||||||||||||
446 | Government National Mortgage Association, Pool #MA0699 | 3.50 | 1/20/43 | 469 | ||||||||||||
176 | Government National Mortgage Association, Pool #MA0155 | 4.00 | 6/20/42 | 188 | ||||||||||||
399 | Government National Mortgage Association, Pool #AD5627 | 4.00 | 4/15/43 | 429 | ||||||||||||
100 | Government National Mortgage Association, Pool #766495 | 4.00 | 10/15/41 | 107 | ||||||||||||
826 | Government National Mortgage Association, Pool #MA1761 | 4.00 | 3/20/44 | 887 | ||||||||||||
486 | Government National Mortgage Association, Pool #MA1678 | 4.00 | 2/20/44 | 522 | ||||||||||||
332 | Government National Mortgage Association, Pool #MA1286 | 4.00 | 9/20/43 | 357 | ||||||||||||
198 | Government National Mortgage Association, Pool #AB1483 | 4.00 | 8/15/42 | 212 | ||||||||||||
381 | Government National Mortgage Association, Pool #MA0319 | 4.00 | 8/20/42 | 409 | ||||||||||||
87 | Government National Mortgage Association, Pool #779401 | 4.00 | 6/15/42 | 93 | ||||||||||||
969 | Government National Mortgage Association, Pool #MA2149 | 4.00 | 8/20/44 | 1,041 | ||||||||||||
1,792 | Government National Mortgage Association, Pool #005139 | 4.00 | 8/20/41 | 1,925 | ||||||||||||
90 | Government National Mortgage Association, Pool #004922 | 4.00 | 1/20/41 | 96 | ||||||||||||
221 | Government National Mortgage Association, Pool #738710 | 4.00 | 9/15/41 | 237 | ||||||||||||
942 | Government National Mortgage Association, Pool #MA1839 | 4.00 | 4/20/44 | 1,011 | ||||||||||||
370 | Government National Mortgage Association, Pool #713876 | 4.00 | 8/15/39 | 397 | ||||||||||||
956 | Government National Mortgage Association, Pool #MA2074 | 4.00 | 7/20/44 | 1,026 | ||||||||||||
477 | Government National Mortgage Association, Pool #MA1996 | 4.00 | 6/20/44 | 513 | ||||||||||||
498 | Government National Mortgage Association, Pool #753254 | 4.00 | 9/15/43 | 535 | ||||||||||||
356 | Government National Mortgage Association, Pool #MA0701 | 4.50 | 1/20/43 | 390 | ||||||||||||
628 | Government National Mortgage Association, Pool #MA1762 | 4.50 | 3/20/44 | 687 |
See accompanying notes to financial statements.
172
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$3,265 | Government National Mortgage Association, Pool #004801 | 4.50 | 9/20/40 | $ | 3,588 | |||||||||||
137 | Government National Mortgage Association, Pool #MA1092 | 4.50 | 6/20/43 | 150 | ||||||||||||
1,317 | Government National Mortgage Association, Pool #717148 | 4.50 | 5/15/39 | 1,454 | ||||||||||||
442 | Government National Mortgage Association, Pool #005260 | 4.50 | 12/20/41 | 484 | ||||||||||||
99 | Government National Mortgage Association, Pool #738793 | 4.50 | 9/15/41 | 108 | ||||||||||||
1,632 | Government National Mortgage Association, Pool #721760 | 4.50 | 8/15/40 | 1,802 | ||||||||||||
424 | Government National Mortgage Association, Pool #782468 | 5.00 | 11/15/38 | 467 | ||||||||||||
56 | Government National Mortgage Association, Pool #MA0465 | 5.00 | 10/20/42 | 62 | ||||||||||||
494 | Government National Mortgage Association, Pool #782523 | 5.00 | 11/15/35 | 547 | ||||||||||||
266 | Government National Mortgage Association, Pool #712690 | 5.00 | 4/15/39 | 293 | ||||||||||||
112 | Government National Mortgage Association, Pool #675179 | 5.00 | 3/15/38 | 123 | ||||||||||||
407 | Government National Mortgage Association, Pool #694531 | 5.00 | 11/15/38 | 448 | ||||||||||||
274 | Government National Mortgage Association, Pool #604285 | 5.00 | 5/15/33 | 304 | ||||||||||||
2,801 | Government National Mortgage Association, Pool #004559 | 5.00 | 10/20/39 | 3,128 | ||||||||||||
2 | Government National Mortgage Association, Pool #673496 | 5.00 | 4/15/38 | 3 | ||||||||||||
103 | Government National Mortgage Association, Pool #MA0466 | 5.50 | 10/20/42 | 114 | ||||||||||||
66 | Government National Mortgage Association, Pool #MA0538 | 5.50 | 11/20/42 | 74 | ||||||||||||
146 | Government National Mortgage Association, Pool #658181 | 5.50 | 11/15/36 | 163 | ||||||||||||
587 | Government National Mortgage Association, Pool #510835 | 5.50 | 2/15/35 | 661 | ||||||||||||
441 | Government National Mortgage Association, Pool #783284 | 5.50 | 6/20/40 | 495 | ||||||||||||
226 | Government National Mortgage Association, Pool #004222 | 6.00 | 8/20/38 | 254 | ||||||||||||
840 | Government National Mortgage Association, Pool #781959 | 6.00 | 7/15/35 | 972 | ||||||||||||
254 | Government National Mortgage Association, Pool #004245 | 6.00 | 9/20/38 | 285 | ||||||||||||
19 | Government National Mortgage Association, Pool #695773 | 6.50 | 11/15/38 | 22 | ||||||||||||
2 | Government National Mortgage Association, Pool #690789 | 6.50 | 5/15/38 | 2 | ||||||||||||
83 | Government National Mortgage Association, Pool #699237 | 6.50 | 9/15/38 | 95 | ||||||||||||
137 | Government National Mortgage Association, Pool #694642 | 6.50 | 8/15/38 | 157 | ||||||||||||
100 | Government National Mortgage Association, 30 YR TBA | 2.50 | 1/15/45 | 99 | ||||||||||||
2,100 | Government National Mortgage Association, 30 YR TBA | 3.00 | 2/20/45 | 2,148 | ||||||||||||
500 | Government National Mortgage Association, 30 YR TBA | 3.50 | 2/15/45 | 524 | ||||||||||||
2,350 | Government National Mortgage Association, 30 YR TBA | 3.50 | 1/20/45 | 2,467 | ||||||||||||
100 | Government National Mortgage Association, 30 YR TBA | 3.50 | 1/15/45 | 105 | ||||||||||||
2,300 | Government National Mortgage Association, 30 YR TBA | 4.00 | 1/20/45 | 2,466 | ||||||||||||
400 | Government National Mortgage Association, 30 YR TBA | 4.00 | 1/15/45 | 429 | ||||||||||||
200 | Government National Mortgage Association, 30 YR TBA | 4.00 | 2/20/44 | 214 | ||||||||||||
100 | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/15/45 | 109 | ||||||||||||
600 | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/20/44 | 656 | ||||||||||||
Total U.S. Government Agency Mortgages | 221,459 |
See accompanying notes to financial statements.
173
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Mutual Funds — 23.49% | ||||||||||||||||
35,115,215 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares (b) | 0.00 | $ | 35,115 | ||||||||||||
29,437,688 | SSgA Treasury Money Market Fund (b) | 0.00 | 29,438 | |||||||||||||
Total Mutual Funds | 64,553 | |||||||||||||||
Total Investments Before TBA Sale Commitments (cost $301,092) — 111.07% | 305,134 | |||||||||||||||
TBA Sale Commitments (c) — (0.89)% | ||||||||||||||||
$(100) | Fannie Mae, 15 YR TBA | 5.00 | 1/25/30 | (105 | )�� | |||||||||||
(300) | Fannie Mae, 15 YR TBA | 5.50 | 1/25/30 | (317 | ) | |||||||||||
(300) | Fannie Mae, 15 YR TBA | 4.50 | 1/25/30 | (315 | ) | |||||||||||
(1,000) | Fannie Mae, 30 YR TBA | 4.00 | 1/25/45 | (1,060 | ) | |||||||||||
(275) | Freddie Mac, Gold 15 YR TBA | 4.50 | 1/15/30 | (289 | ) | |||||||||||
(100) | Government National Mortgage Association, 30 YR TBA | 5.50 | 1/20/45 | (111 | ) | |||||||||||
(100) | Government National Mortgage Association, 30 YR TBA | 5.00 | 1/20/45 | (109 | ) | |||||||||||
(100) | Government National Mortgage Association, 30 YR TBA | 5.00 | 1/15/45 | (110 | ) | |||||||||||
Total TBA Sale Commitments | (2,416 | ) | ||||||||||||||
Liabilities in excess of other assets — (10.18)% | (27,963 | ) | ||||||||||||||
Net Assets — 100.00% | $ | 274,755 |
(a) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2014. |
(b) | The rate disclosed is the rate in effect on December 31, 2014. |
(c) | 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.) |
TBA — Security is subject to delayed delivery
See accompanying notes to financial statements.
174
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||||||
Municipal Bonds — 97.56% | ||||||||||||||||||||
Alabama — 2.50% | ||||||||||||||||||||
$525 | Madison County Alabama Board of Education Capital Outlay, Tax Anticipation Warrants Revenue | 2.00 | 9/1/15 | $ | 530 | |||||||||||||||
Arizona — 8.16% | ||||||||||||||||||||
650 | Arizona State Transportation Board Grant Anticipation Notes Revenue, Series A | 5.00 | 7/1/17 | 717 | ||||||||||||||||
460 | Gilbert Arizona Public Facilities Municipal Property Corp. Revenue | 5.00 | 7/1/17 | 507 | ||||||||||||||||
500 | Phoenix Arizona Civic Improvement Corp. Excise Tax Revenue, Senior Lien, Series A | 3.00 | 7/1/15 | 507 | ||||||||||||||||
1,731 | ||||||||||||||||||||
California — 3.65% | ||||||||||||||||||||
765 | California State, GO | 5.00 | 4/1/15 | 774 | ||||||||||||||||
Colorado — 2.44% | ||||||||||||||||||||
500 | Colorado Springs Colorado Utilities Revenue, Series C-1 | 4.00 | 11/15/15 | 516 | ||||||||||||||||
Delaware — 3.21% | ||||||||||||||||||||
670 | New Castle County Delaware, GO, Series A | 3.00 | 7/15/15 | 680 | ||||||||||||||||
Florida — 2.04% | ||||||||||||||||||||
255 | Port St. Lucie Florida Utility Revenue (NATL-RE) | 5.00 | 9/1/16 | 272 | ||||||||||||||||
150 | Tallahassee Florida Energy System Revenue | 5.00 | 10/1/16 | 162 | ||||||||||||||||
434 | ||||||||||||||||||||
Illinois — 8.02% | ||||||||||||||||||||
500 | Kane County Illinois Forest Preserve District, GO | 4.00 | 12/15/15 | 518 | ||||||||||||||||
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 | 92 | ||||||||||||||||
475 | Northbrook Illinois, GO, Series A | 5.00 | 12/1/19 | 552 | ||||||||||||||||
500 | Regional Transportation Authority Revenue (AGM/GO of Authority) | 5.75 | 6/1/16 | 536 | ||||||||||||||||
1,698 | ||||||||||||||||||||
Indiana — 0.56% | ||||||||||||||||||||
115 | Columbus Indiana Repair & Renovation School Building Corp. Revenue, Callable 7/15/15 @ 100.00 (NATL-RE/State Aid Withholding) | 5.00 | 7/15/20 | 118 | ||||||||||||||||
Iowa — 5.13% | ||||||||||||||||||||
450 | Waukee Iowa Community School District, GO, Series C | 5.00 | 6/1/19 | 519 | ||||||||||||||||
500 | West Des Moines Iowa, GO, Series B | 5.00 | 6/1/18 | 567 | ||||||||||||||||
1,086 | ||||||||||||||||||||
Massachusetts — 2.60% | ||||||||||||||||||||
525 | Ashburnham Massachusetts, GO | 5.00 | 1/15/16 | 550 | ||||||||||||||||
Michigan — 11.20% | ||||||||||||||||||||
200 | Grand Rapids Michigan Water Supply System Revenue | 4.00 | 1/2/15 | 200 | ||||||||||||||||
1,000 | Michigan State, GO, Series A | 4.00 | 11/1/16 | 1,063 | ||||||||||||||||
500 | Michigan State Trunk Line Revenue (NATL-RE/FGIC) | 5.25 | 11/1/15 | 521 | ||||||||||||||||
500 | Oakland University Michigan Revenue | 5.00 | 3/1/21 | 591 | ||||||||||||||||
2,375 | ||||||||||||||||||||
Nevada — 2.65% | ||||||||||||||||||||
535 | Las Vegas Valley Nevada Water District, GO, Series B | 4.00 | 6/1/16 | 561 | ||||||||||||||||
New Jersey — 0.68% | ||||||||||||||||||||
130 | South Brunswick Township New Jersey, GO | 4.00 | 9/1/20 | 145 | ||||||||||||||||
New Mexico — 2.63% | ||||||||||||||||||||
500 | New Mexico Finance Authority State Transportation Revenue, Series A-2 | 5.00 | 12/15/17 | 557 |
See accompanying notes to financial statements.
175
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||||||
Municipal Bonds | ||||||||||||||||||||
New York — 7.90% | ||||||||||||||||||||
$310 | New York City Transitional Finance Authority Future Tax Secured Revenue, Series D, ETM | 5.00 | 11/1/17 | $ | 347 | |||||||||||||||
1,190 | New York City Transitional Finance Authority Future Tax Secured Revenue, Series D | 5.00 | 11/1/17 | 1,326 | ||||||||||||||||
1,673 | ||||||||||||||||||||
Ohio — 3.53% | ||||||||||||||||||||
730 | Ohio State, GO | 3.00 | 11/1/15 | 747 | ||||||||||||||||
Pennsylvania — 1.83% | ||||||||||||||||||||
380 | South Eastern Pennsylvania School District York County, GO (State Aid Withholding) | 2.00 | 2/15/16 | 387 | ||||||||||||||||
Tennessee — 2.70% | ||||||||||||||||||||
525 | Tennessee State School Bond Authority Revenue, Series A | 4.00 | 11/1/17 | 572 | ||||||||||||||||
Texas — 7.25% | ||||||||||||||||||||
745 | College Station Texas, GO | 5.00 | 2/15/16 | 784 | ||||||||||||||||
400 | Hurst-Euless-Bedford Texas Independent School District, GO (PSF-GTD) | 5.00 | 8/15/17 | 444 | ||||||||||||||||
310 | League City Texas, GO, Series A | 4.00 | 2/15/15 | 311 | ||||||||||||||||
1,539 | ||||||||||||||||||||
Utah — 2.57% | ||||||||||||||||||||
500 | Washington County Utah Water Conservancy District Revenue | 5.25 | 10/1/16 | 542 | ||||||||||||||||
Washington — 13.39% | ||||||||||||||||||||
200 | Cascade Water Alliance Washington Water System Revenue (AMBAC) | 5.00 | 9/1/15 | 206 | ||||||||||||||||
475 | Clark County Washington Public Utilities District No. 1 System Revenue | 5.00 | 1/1/18 | 530 | ||||||||||||||||
275 | King County Washington, GO, Series B | 4.00 | 12/1/16 | 294 | ||||||||||||||||
350 | King County Washington Sewer Revenue, Callable 7/1/20 @ 100.00 | 5.00 | 1/1/22 | 409 | ||||||||||||||||
500 | Tacoma Washington Electric System Revenue, Series A | 4.00 | 1/1/20 | 559 | ||||||||||||||||
800 | Washington State Health Care Facilities Authority, Catholic Health Revenue, Series A | 5.00 | 2/1/16 | 839 | ||||||||||||||||
2,837 | ||||||||||||||||||||
Wisconsin — 2.92% | ||||||||||||||||||||
600 | Madison Wisconsin Area Technical College, Promissory Notes, GO, Series B | 3.00 | 3/1/16 | 619 | ||||||||||||||||
Total Municipal Bonds | 20,671 | |||||||||||||||||||
Mutual Fund — 1.43% | ||||||||||||||||||||
303,919 | SSgA Treasury Money Market Fund (a) | 0.00 | 304 | |||||||||||||||||
Total Mutual Fund | 304 | |||||||||||||||||||
Total Investments (cost $20,718) — 98.99% | 20,975 | |||||||||||||||||||
Other assets in excess of liabilities — 1.01% | 213 | |||||||||||||||||||
Net Assets — 100.00% | $ | 21,188 |
(a) | The rate disclosed is the rate in effect on December 31, 2014. |
AGM — Assured Guaranty Municipal Corporation
AMBAC — American Municipal Bond Assurance Corporation
ETM — Escrowed to Maturity
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.
176
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds — 86.00% | ||||||||||||||||
Alabama — 2.59% | ||||||||||||||||
$1,500 | Alabama State Public School & College Authority Revenue, Series A | 5.00 | 5/1/18 | $ | 1,692 | |||||||||||
2,500 | Alabama State Public School & College Authority Revenue, Series B | 5.00 | 1/1/19 | 2,864 | ||||||||||||
2,500 | Birmingham Alabama Waterworks Board Water Revenue, Series A, Callable 1/1/19 @ 100.00 (Assured GTY) | 5.00 | 1/1/21 | 2,852 | ||||||||||||
2,920 | Birmingham Alabama Waterworks Board Water Revenue, Series A, Callable 1/1/19 @ 100.00 (Assured GTY) | 5.00 | 1/1/22 | 3,327 | ||||||||||||
10,735 | ||||||||||||||||
Alaska — 0.63% | ||||||||||||||||
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 | 2,638 | ||||||||||||
Arizona — 0.87% | ||||||||||||||||
1,500 | Phoenix Arizona Civic Improvement Corp. Wastewater System Revenue, Junior Lien | 5.00 | 7/1/21 | 1,799 | ||||||||||||
1,625 | Phoenix Arizona Civic Improvement Corp. Transportation Excise Tax Revenue | 5.00 | 7/1/18 | 1,841 | ||||||||||||
3,640 | ||||||||||||||||
Arkansas — 0.33% | ||||||||||||||||
1,200 | Arkansas State Development Finance Authority Hospital Revenue, Series B | 5.00 | 2/1/23 | 1,372 | ||||||||||||
California — 12.28% | ||||||||||||||||
5,000 | California State, GO, Callable 4/1/19 @ 100.00 | 5.50 | 4/1/21 | 5,896 | ||||||||||||
5,000 | California State, GO, Callable 10/1/19 @ 100.00 | 5.25 | 10/1/20 | 5,930 | ||||||||||||
3,705 | California State Department of Water Resources Revenue, Central Valley Project | 5.25 | 7/1/22 | 3,718 | ||||||||||||
1,000 | California State Public Works Board Lease Revenue, Department of Forestry & Fire, Series E | 5.00 | 11/1/22 | 1,119 | ||||||||||||
1,000 | California State Public Works Board Lease Revenue, Series B | 5.00 | 10/1/21 | 1,196 | ||||||||||||
605 | California Statewide Communities Development Authority, Multi-Family, Pioneer Park, Series T, AMT (GNMA) | 6.10 | 12/20/20 | 606 | ||||||||||||
2,500 | Los Angeles California Department of Water & Power System Revenue, Series A | 5.00 | 7/1/20 | 2,974 | ||||||||||||
1,650 | Los Angeles California Department of Water & Power System Revenue, Series A | 5.00 | 7/1/21 | 1,998 | ||||||||||||
5,000 | Los Angeles California Harbor Department Revenue, Series C, Callable 8/1/19 @ 100.00 | 5.25 | 8/1/22 | 5,928 | ||||||||||||
2,500 | Los Angeles California Wastewater System Revenue, Series A | 5.00 | 6/1/20 | 2,968 | ||||||||||||
1,250 | North Natomas California Community Facilities District Special Tax Revenue, Series E | 5.00 | 9/1/18 | 1,393 | ||||||||||||
5,000 | Orange County California Sanitation District Wastewater Revenue, Series A | 5.00 | 2/1/22 | 6,109 | ||||||||||||
3,500 | San Francisco California City & County Airports Commission International Terminal Revenue, AMT | 5.25 | 5/1/18 | 3,966 | ||||||||||||
3,925 | San Francisco California City & County Airports Commission International Terminal Revenue, Series F, AMT, Callable 5/1/21 @ 100.00 | 5.00 | 5/1/22 | 4,550 | ||||||||||||
2,500 | University of California Revenue, Series Q, Callable 5/15/17 @ 100.00 | 5.25 | 5/15/23 | 2,795 | ||||||||||||
51,146 | ||||||||||||||||
Colorado — 1.27% | ||||||||||||||||
3,495 | Colorado State Educational & Cultural Facilities Authority Revenue, Series B | 5.00 | 4/1/19 | 3,937 | ||||||||||||
1,150 | Denver City & County Colorado Airport Revenue, Series A, AMT | 5.00 | 11/15/19 | 1,330 | ||||||||||||
5,267 | ||||||||||||||||
Connecticut — 0.72% | ||||||||||||||||
2,500 | Connecticut State Special Tax Obligation Revenue, Transportation Infrastructure, Series A | 5.00 | 9/1/21 | 2,994 | ||||||||||||
Florida — 8.71% | ||||||||||||||||
3,000 | Citizens Property Insurance Corp. Florida Revenue, Series A-1 | 5.25 | 6/1/17 | 3,304 | ||||||||||||
2,000 | Citizens Property Insurance Corp. Florida Revenue, Series A-1 | 5.00 | 6/1/19 | 2,297 | ||||||||||||
2,500 | Citizens Property Insurance Corp. Florida Revenue, Senior Secured Bonds, Series A-1 | 5.00 | 6/1/19 | 2,868 |
See accompanying notes to financial statements.
177
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Florida (continued) | ||||||||||||||||
$2,795 | Clearwater Florida Water & Sewer Revenue, Series B | 5.00 | 12/1/17 | $ | 3,114 | |||||||||||
2,000 | Florida State Municipal Power Agency Revenue, Series A, Callable 10/1/19 @ 100.00 | 5.25 | 10/1/22 | 2,298 | ||||||||||||
4,435 | Florida State Turnpike Authority Revenue, Department of Transportation, Series C | 5.00 | 7/1/20 | 5,224 | ||||||||||||
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 | 2,393 | ||||||||||||
1,300 | JEA Florida Water & Sewer System Revenue, Series A | 5.00 | 10/1/17 | 1,446 | ||||||||||||
1,100 | JEA Florida Electric System Revenue, Series A | 5.00 | 10/1/20 | 1,300 | ||||||||||||
4,700 | Lakeland Florida Energy System Revenue, Series B (AGM) | 5.00 | 10/1/17 | 5,185 | ||||||||||||
1,600 | Lee County Florida Transportation Facilities Revenue (AGM) | 5.00 | 10/1/20 | 1,880 | ||||||||||||
3,250 | Orlando & Orange County Expressway Authority Revenue, Series B | 5.00 | 7/1/17 | 3,570 | ||||||||||||
1,155 | Tampa Bay Florida Water Regional Supply Authority Utility System Revenue | 5.00 | 10/1/20 | 1,365 | ||||||||||||
36,244 | ||||||||||||||||
Georgia — 4.31% | ||||||||||||||||
3,650 | Atlanta Georgia Water & Wastewater Revenue, Series A, Callable 11/1/19 @ 100.00 | 6.00 | 11/1/21 | 4,392 | ||||||||||||
1,700 | Atlanta Georgia Water & Wastewater Revenue, Series B | 5.00 | 11/1/19 | 1,974 | ||||||||||||
3,050 | Georgia State Municipal Gas Authority Revenue, Gas Portfolio III Project, Series U | 5.00 | 10/1/21 | 3,609 | ||||||||||||
4,500 | Metropolitan Atlanta Georgia Rapid Transit Authority Sales Tax Revenue, Series A (NATL-RE) | 5.00 | 7/1/19 | 5,202 | ||||||||||||
1,000 | Municipal Electric Authority of Georgia Revenue, SUB, Series D, Callable 7/1/18 @ 100.00 | 5.75 | 1/1/19 | 1,162 | ||||||||||||
1,500 | Savannah Georgia Economic Development Authority Solid Waste Disposal Revenue, Waste Management Project, Series A, AMT | 5.50 | 7/1/16 | 1,601 | ||||||||||||
17,940 | ||||||||||||||||
Hawaii — 0.34% | ||||||||||||||||
1,450 | Hawaii State Department of Budget & Finance Special Purpose Revenue, Queens Health System, Series B (AMBAC) (a) | 0.23 | 7/1/24 | 1,411 | ||||||||||||
Idaho — 0.13% | ||||||||||||||||
500 | Idaho Housing & Finance Association, Single Family Mortgage Revenue, Series B, Class III, AMT | 5.40 | 7/1/28 | 512 | ||||||||||||
Illinois — 2.75% | ||||||||||||||||
2,660 | Chicago Illinois Certificates of Participation, Tax Increment Allocation Revenue, Diversey/Narragansett Project, Series NT, Callable 2/10/15 @ 100.00 (b) | 7.46 | 2/15/26 | 1,903 | ||||||||||||
2,500 | Illinois State Sales Tax Revenue (NATL-RE) | 5.75 | 6/15/18 | 2,886 | ||||||||||||
2,490 | Railsplitter Tobacco Settlement Authority Illinois Revenue | 5.00 | 6/1/17 | 2,722 | ||||||||||||
3,500 | Railsplitter Illinois Tobacco Settlement Authority Revenue | 5.00 | 6/1/18 | 3,932 | ||||||||||||
11,443 | ||||||||||||||||
Indiana — 0.44% | ||||||||||||||||
1,655 | Indianapolis Indiana Thermal Energy System Revenue (AGM) | 5.00 | 10/1/17 | 1,828 | ||||||||||||
Louisiana — 1.93% | ||||||||||||||||
1,000 | Louisiana Stadium & Exposition District, Series A | 5.00 | 7/1/18 | 1,128 | ||||||||||||
6,000 | Tobacco Settlement Financing Corp. Louisiana Revenue, Series A | 5.00 | 5/15/19 | 6,883 | ||||||||||||
8,011 | ||||||||||||||||
Massachusetts — 6.96% | ||||||||||||||||
1,690 | Massachusetts State Clean Energy Cooperative Corp. Revenue | 4.00 | 7/1/17 | 1,818 | ||||||||||||
4,730 | Massachusetts State Educational Financing Authority Revenue, Series K | 5.00 | 7/1/19 | 5,261 | ||||||||||||
2,315 | Massachusetts State Development Finance Agency Revenue, Bentley University, Callable 7/1/20 @ 100.00 | 5.00 | 7/1/21 | 2,664 |
See accompanying notes to financial statements.
178
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Massachusetts (continued) | ||||||||||||||||
$2,180 | Massachusetts State Development Finance Agency Revenue, Bentley University, Callable 7/1/20 @ 100.00 | 5.00 | 7/1/22 | $ | 2,500 | |||||||||||
2,920 | Massachusetts State Development Finance Agency Revenue, Tufts Medical Center, Inc., Series I | 5.25 | 1/1/21 | 3,409 | ||||||||||||
4,170 | Massachusetts State Health & Educational Facilities Authority Revenue, Northeastern University, Series A | 5.00 | 10/1/17 | 4,613 | ||||||||||||
1,390 | Massachusetts State Health & Educational Facilities Authority Revenue, Massachusetts Eye & Ear Infirmary, Series C | 5.00 | 7/1/18 | 1,547 | ||||||||||||
1,250 | Massachusetts State Health & Educational Facilities Authority Revenue, Massachusetts Eye & Ear Infirmary, Series C | 5.00 | 7/1/19 | 1,416 | ||||||||||||
5,000 | Massachusetts State School Building Authority Sales Tax Revenue, Series B | 5.00 | 10/15/18 | 5,720 | ||||||||||||
28,948 | ||||||||||||||||
Michigan — 4.69% | ||||||||||||||||
4,000 | Michigan State Finance Authority Revenue, Series D1 (AGM) | 5.00 | 7/1/21 | 4,554 | ||||||||||||
6,000 | Michigan State Finance Authority Revenue, Series B, Callable 7/1/18 @ 100.00 | 5.00 | 7/1/21 | 6,782 | ||||||||||||
2,000 | Michigan State, GO, Series A | 5.00 | 11/1/19 | 2,332 | ||||||||||||
2,530 | Michigan State Trunk Line Revenue | 5.00 | 11/15/18 | 2,889 | ||||||||||||
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 | 1,835 | ||||||||||||
1,000 | Wayne County Michigan Airport Authority Revenue, Series A, AMT | 5.00 | 12/1/19 | 1,128 | ||||||||||||
19,520 | ||||||||||||||||
Minnesota — 0.27% | ||||||||||||||||
1,000 | Western Minnesota Municipal Power Agency Revenue, Series A | 4.00 | 1/1/19 | 1,104 | ||||||||||||
Missouri — 1.78% | ||||||||||||||||
2,500 | Kansas City Missouri Airport Revenue, Series A, AMT | 5.00 | 9/1/20 | 2,882 | ||||||||||||
1,600 | Missouri State Joint Municipal Electric Utility Commission Power Project Revenue, Series A | 5.00 | 1/1/21 | 1,871 | ||||||||||||
2,410 | Missouri State Regional Convention & Sports Complex Authority Revenue, Series A | 5.00 | 8/15/17 | 2,664 | ||||||||||||
7,417 | ||||||||||||||||
New Jersey — 0.21% | ||||||||||||||||
750 | New Jersey State Health Care Facilities Financing Authority Revenue, Virtua Health, Inc. | 5.00 | 7/1/19 | 859 | ||||||||||||
New Mexico — 0.60% | ||||||||||||||||
2,500 | New Mexico State Municipal Energy Acquisition Authority Gas Supply Revenue, Callable 2/1/19 @ 100.00 (SPA) (a) | 0.85 | 11/1/39 | 2,502 | ||||||||||||
New York — 9.12% | ||||||||||||||||
1,500 | Metropolitan Transportation Authority New York Revenue, Series C | 5.00 | 11/15/18 | 1,713 | ||||||||||||
2,000 | Metropolitan Transportation Authority New York Revenue, Series B | 5.00 | 11/15/22 | 2,392 | ||||||||||||
3,020 | New York State, GO, Series E, Callable 8/1/19 @ 100.00 | 5.00 | 8/1/21 | 3,500 | ||||||||||||
3,250 | New York NY, GO, Series G | 5.00 | 8/1/19 | 3,757 | ||||||||||||
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 | 2,901 | ||||||||||||
2,000 | New York City Transitional Finance Authority Future Tax Revenue, Sub Series E | 5.00 | 11/1/18 | 2,287 | ||||||||||||
435 | New York State Housing Finance Agency Revenue, St. Philips Housing, Series A (FNMA) | 4.05 | 11/15/16 | 444 | ||||||||||||
2,500 | New York State Dormitory Authority State Personal Income Tax Revenue, Series A | 5.00 | 2/15/19 | 2,870 | ||||||||||||
1,200 | New York State Thruway Authority Revenue, Series J | 5.00 | 1/1/20 | 1,400 | ||||||||||||
5,000 | New York State Thruway Authority General Revenue, Junior Indebtedness Obligations, Series A | 5.00 | 5/1/19 | 5,722 |
See accompanying notes to financial statements.
179
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
New York (continued) | ||||||||||||||||
$3,000 | Port Authority of New York & New Jersey NY Revenue, Consolidated 175th Series | 5.00 | 12/1/17 | $ | 3,359 | |||||||||||
2,000 | Port Authority of New York & New Jersey NY Revenue, Consolidated 185th Series, AMT | 5.00 | 9/1/22 | 2,360 | ||||||||||||
3,000 | Sales Tax Asset Receivable Corp. NY Revenue, Series A | 5.00 | 10/15/19 | 3,508 | ||||||||||||
1,500 | Triborough New York Bridge & Tunnel Authority Revenue, Series A (GO of Authority) | 5.00 | 11/15/18 | 1,716 | ||||||||||||
37,929 | ||||||||||||||||
North Carolina — 0.72% | ||||||||||||||||
3,000 | Wake County Industrial Facilities & Pollution Control Financing Authority Revenue, Series E (a) | 0.14 | 10/1/22 | 2,998 | ||||||||||||
Ohio — 3.31% | ||||||||||||||||
6,535 | Kent State University Revenue, Series B, Callable 5/1/19 @ 100.00 (Assured GTY) | 5.00 | 5/1/22 | 7,499 | ||||||||||||
990 | Mahoning County Ohio Hospital Facilities Revenue, Western Reserve Care System, ETM (MBIA) | 5.50 | 10/15/25 | 1,181 | ||||||||||||
2,500 | Montgomery County Ohio Revenue, Miami Valley Hospital, Series A, Callable 11/15/20 @ 100.00 | 5.75 | 11/15/22 | 3,006 | ||||||||||||
1,875 | Ohio State Capital Facilities Lease Appropriation Revenue, Administrative Building Fund Project, Series A | 5.00 | 10/1/18 | 2,126 | ||||||||||||
13,812 | ||||||||||||||||
Pennsylvania — 3.73% | ||||||||||||||||
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 | 1,321 | ||||||||||||
2,960 | Pennsylvania State Economic Development Finance Authority, Unemployment Compensation Revenue, Series B, Callable 1/1/18 @ 100.00 | 5.00 | 7/1/21 | 3,305 | ||||||||||||
3,500 | Pennsylvania State Economic Development Finance Authority, Unemployment Compensation Revenue, Series B, Callable 7/1/17 @ 100.00 | 5.00 | 1/1/22 | 3,858 | ||||||||||||
2,500 | Pennsylvania Intergovernmental Cooperative Authority, Special Tax Revenue | 5.00 | 6/15/18 | 2,827 | ||||||||||||
1,590 | Pittsburgh Pennsylvania Water & Sewer Authority Revenue, First Lien, Series A (AGM) | 5.00 | 9/1/19 | 1,823 | ||||||||||||
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 | 2,359 | ||||||||||||
15,493 | ||||||||||||||||
South Carolina — 0.96% | ||||||||||||||||
3,500 | Piedmont Municipal Power Agency Electric Revenue, Series A-2, Callable 1/1/21 @ 100.00 | 5.00 | 1/1/22 | 4,051 | ||||||||||||
South Dakota — 0.04% | ||||||||||||||||
150 | Heartland Consumers Power District South Dakota Electric Revenue, ETM | 6.38 | 1/1/16 | 154 | ||||||||||||
Texas — 12.17% | ||||||||||||||||
1,650 | Allen Texas Independent School District, GO (PSF-GTD) | 5.00 | 2/15/21 | 1,981 | ||||||||||||
880 | Bexar County Texas Housing Finance Corp., Multi-Family Housing Revenue, Perkin Square Project, Series A-1 (GNMA) | 6.55 | 12/20/34 | 902 | ||||||||||||
3,500 | Dallas-Fort Worth Texas International Airport Revenue, Series E, AMT | 5.00 | 11/1/19 | 4,023 | ||||||||||||
20 | Dallas Texas, GO, Series A, ETM | 5.00 | 2/15/18 | 22 | ||||||||||||
2,090 | Dickinson Texas Independent School District, GO (PSF-GTD) | 5.00 | 2/15/21 | 2,491 | ||||||||||||
1,000 | El Paso Texas Water & Sewer Revenue | 5.00 | 3/1/22 | 1,206 | ||||||||||||
5,000 | Fort Worth Texas Independent School District, GO, Callable 2/15/18 @ 100.00 (PSF-GTD) | 5.00 | 2/15/21 | 5,619 | ||||||||||||
2,800 | Fort Worth Texas Water & Sewer Revenue | 5.00 | 2/15/19 | 3,216 | ||||||||||||
3,235 | Harris County Houston Texas Sports Authority Revenue, Series A | 5.00 | 11/15/20 | 3,781 | ||||||||||||
2,000 | Houston Texas Hotel Occupancy Tax & Special Revenue, Series A | 5.00 | 9/1/20 | 2,286 |
See accompanying notes to financial statements.
180
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Texas (continued) | ||||||||||||||||
$3,400 | North East Texas Independent School District, GO (PSF-GTD) | 5.00 | 2/1/20 | $ | 3,981 | |||||||||||
1,695 | North Texas Tollway Authority Revenue, Series A | 5.00 | 1/1/22 | 2,004 | ||||||||||||
2,345 | Retama Texas Development Corp., Special Facilities Revenue, ETM | 8.75 | 12/15/18 | 2,992 | ||||||||||||
2,000 | San Antonio Texas, GO | 5.00 | 2/1/20 | 2,345 | ||||||||||||
4,150 | San Antonio Texas Electricity & Gas Revenue, Junior Lien | 5.00 | 2/1/20 | 4,860 | ||||||||||||
2,500 | San Antonio Texas Electricity & Gas Revenue, Series D | 5.00 | 2/1/18 | 2,803 | ||||||||||||
1,175 | San Antonio Texas Water Revenue, Junior Lien, Series A | 5.00 | 5/15/22 | 1,418 | ||||||||||||
2,500 | Texas State College Student Loan, GO, AMT | 5.50 | 8/1/19 | 2,945 | ||||||||||||
1,500 | Texas State Transportation Commission Highway Fund Revenue, Series A | 5.00 | 4/1/19 | 1,733 | ||||||||||||
50,608 | ||||||||||||||||
Utah — 0.44% | ||||||||||||||||
1,500 | Intermountain Power Agency Power Supply Revenue, Series A | 5.00 | 7/1/17 | 1,654 | ||||||||||||
185 | Utah Housing Corp., Single Family Mortgage, Series D-2, Class III, AMT, Callable 2/10/15 @ 100.00 | 5.00 | 7/1/18 | 185 | ||||||||||||
1,839 | ||||||||||||||||
Washington — 3.42% | ||||||||||||||||
2,405 | Energy Northwest Washington Electric Revenue, Columbia Station, Series A, Callable 7/1/16 @ 100.00 | 5.00 | 7/1/23 | 2,565 | ||||||||||||
1,155 | Energy Northwest Washington Electric Revenue, Columbia Generating Station, Series A | 5.00 | 7/1/20 | 1,356 | ||||||||||||
1,070 | Grant County Washington Public Utilities District #2 Priest Rapids Hydro Electric Revenue, Series B, AMT | 5.00 | 1/1/20 | 1,233 | ||||||||||||
1,650 | Grant County Washington Public Utilities District #2 Priest Rapids Hydro Electric Revenue, Series B, AMT | 5.00 | 1/1/21 | 1,927 | ||||||||||||
1,420 | Grant County Washington Public Utilities District #2 Priest Rapids Hydro Electric Revenue, Series B, AMT | 5.00 | 1/1/22 | 1,675 | ||||||||||||
1,000 | Port of Seattle Washington, GO, AMT, Callable 6/1/21 @ 100.00 | 5.25 | 12/1/21 | 1,188 | ||||||||||||
2,500 | Washington State, GO, Series B | 5.00 | 7/1/23 | 3,067 | ||||||||||||
1,000 | Washington State Health Care Facilities Authority Revenue, Providence Health & Services, Series B | 5.00 | 10/1/19 | 1,156 | ||||||||||||
14,167 | ||||||||||||||||
Wisconsin — 0.28% | ||||||||||||||||
1,000 | Wisconsin State Health & Educational Facilities Authority Health Facilities Revenue, UnityPoint Health, Series A | 5.00 | 12/1/21 | 1,183 | ||||||||||||
Total Municipal Bonds | 357,765 | |||||||||||||||
Corporate Bond — 0.00% | ||||||||||||||||
3,939 | ASC Equipment (Diversified Financial Services) *(c)(d) | 5.13 | 3/1/08 | — | ||||||||||||
Total Corporate Bond | — | |||||||||||||||
Time Deposit — 0.50% | ||||||||||||||||
2,094 | State Street Liquidity Management Control System Eurodollar Time Deposit | 0.01 | 1/2/15 | 2,094 | ||||||||||||
Total Time Deposit | 2,094 |
See accompanying notes to financial statements.
181
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
Shares or Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Mutual Fund — 12.97% | ||||||||||||||||
53,982,132 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares (e) | 0.00 | $ | 53,982 | ||||||||||||
Total Mutual Fund | 53,982 | |||||||||||||||
Total Investments (cost $403,390) — 99.47% | 413,841 | |||||||||||||||
Other assets in excess of liabilities — 0.53% | 2,210 | |||||||||||||||
Net Assets — 100.00% | $ | 416,051 |
Amounts designated as “—” are $0 or have been rounded to $0.
* | Security was fair valued on December 31, 2014 and represents a Level 2 security. Refer to Note 2 in the Notes to Financial Statements. |
(a) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2014. The maturity date represents actual maturity date. |
(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 0.46% of the Portfolio's net assets. |
(c) | Escrow security due to bankruptcy. |
(d) | Issuer has defaulted on the payment of principal and interest. These securities have been deemed illiquid by the Specialist Manager and represents 0.00% of the Portfolio's net assets. |
(e) | The rate disclosed is the rate in effect on December 31, 2014. |
AGM — Assured Guaranty Municipal Corporation
AMBAC — American Municipal Bond Assurance Corporation
AMT — Alternative Minimum Tax
ETM — Escrowed to Maturity
FGIC — Financial Guaranty Insurance Company
FNMA — Federal National Mortgage Association
GNMA — Government National Mortgage Association
GO — General Obligation
GTY — Guaranty
MBIA — Municipal Bond Insurance Association
NATL-RE — Reinsurance provided by National Reinsurance
PSF-GTD — Public School Fund Guaranteed
See accompanying notes to financial statements.
182
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds — 85.78% | ||||||||||||||||
Alabama — 4.89% | ||||||||||||||||
$1,500 | Alabama State Public School & College Authority Revenue, Series A | 5.00 | 5/1/19 | $ | 1,730 | |||||||||||
1,235 | Birmingham Alabama, GO, Series A, Callable 6/1/24 @ 100.00 | 5.00 | 12/1/26 | 1,475 | ||||||||||||
500 | Tuscaloosa Alabama, GO, Series C | 3.00 | 1/1/18 | 528 | ||||||||||||
3,733 | ||||||||||||||||
Arizona — 1.52% | ||||||||||||||||
1,000 | Maricopa County Arizona Union High School District No. 216 Agua Fria, GO | 2.00 | 7/1/15 | 1,009 | ||||||||||||
140 | Yuma County Arizona Jail District Revenue, Pledge Obligation | 5.00 | 7/1/20 | 155 | ||||||||||||
1,164 | ||||||||||||||||
California — 3.57% | ||||||||||||||||
1,000 | California State Department of Water Resources, Power Supply Revenue, Series L, Callable 5/1/20 @ 100.00 | 5.00 | 5/1/22 | 1,187 | ||||||||||||
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 | 1,535 | ||||||||||||
2,722 | ||||||||||||||||
Florida — 14.33% | ||||||||||||||||
1,550 | Florida Water Pollution Control Financing Corp. Revenue, Series A | 5.00 | 7/15/16 | 1,659 | ||||||||||||
400 | JEA Florida Electric System Revenue, Series A | 5.00 | 10/1/15 | 414 | ||||||||||||
875 | Jacksonville Florida Special Revenue, Series A | 5.00 | 10/1/15 | 906 | ||||||||||||
1,400 | Lee County Florida School Board Certificates of Participation, Series A, Callable 8/1/24 @ 100.00 | 5.00 | 8/1/27 | 1,660 | ||||||||||||
895 | Lee County Florida Water & Sewer Revenue | 4.00 | 10/1/15 | 920 | ||||||||||||
1,000 | Miami-Dade County Florida Water & Sewer Revenue, Series B (AGM) | 5.25 | 10/1/20 | 1,193 | ||||||||||||
1,085 | Orange County Florida School Board Certificates of Participation, Series A | 5.00 | 8/1/23 | 1,304 | ||||||||||||
1,000 | Palm Beach County Florida Public Improvement Revenue, Series 2 | 5.00 | 11/1/16 | 1,082 | ||||||||||||
1,500 | West Palm Beach Florida Utility System Revenue, Series A, Callable 10/1/21 @ 100.00 | 5.00 | 10/1/22 | 1,790 | ||||||||||||
10,928 | ||||||||||||||||
Hawaii — 2.35% | ||||||||||||||||
1,500 | Honolulu City & County Hawaii, GO, Series B, Callable 12/1/20 @ 100.00 | 5.00 | 12/1/23 | 1,795 | ||||||||||||
Illinois — 2.42% | ||||||||||||||||
1,325 | DuPage & Cook Counties Illinois Community Unit School District #205, GO (NATL-RE) | 5.50 | 1/1/16 | 1,391 | ||||||||||||
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 | 128 | ||||||||||||
320 | Northbrook Illinois, GO | 3.00 | 12/1/15 | 328 | ||||||||||||
1,847 | ||||||||||||||||
Maryland — 2.02% | ||||||||||||||||
1,330 | Maryland State Transportation Authority Revenue, Transportation Facilities Project, Series A | 5.00 | 7/1/19 | 1,541 | ||||||||||||
Massachusetts — 1.59% | ||||||||||||||||
1,000 | Massachusetts Bay Transportation Authority Sales Tax Revenue, Series B | 5.25 | 7/1/21 | 1,215 | ||||||||||||
Michigan — 1.47% | ||||||||||||||||
1,000 | Grand Rapids Michigan Community College, GO (AGM) | 5.00 | 5/1/18 | 1,123 | ||||||||||||
Minnesota — 0.60% | ||||||||||||||||
400 | Crow Wing County Minnesota, GO, Series A | 5.00 | 2/1/19 | 455 | ||||||||||||
Nebraska — 1.40% | ||||||||||||||||
1,000 | Lincoln Nebraska Waterworks Revenue | 3.00 | 8/15/18 | 1,068 | ||||||||||||
Nevada — 2.86% | ||||||||||||||||
800 | Clark County Nevada Highway Improvement Revenue | 5.00 | 7/1/23 | 973 | ||||||||||||
250 | Nevada State, Capital Improvement, GO, Series A, Callable 2/1/15 @ 100.00 | 5.00 | 2/1/19 | 251 | ||||||||||||
800 | Nevada State System of Higher Education Certificates of Participation, Series A, Callable 7/1/24 @ 100.00 | 5.00 | 7/1/26 | 953 | ||||||||||||
2,177 | ||||||||||||||||
New York — 3.34% | ||||||||||||||||
1,495 | New York City Transitional Finance Authority Revenue, Series D, Callable 2/1/21 @ 100.00 | 5.25 | 2/1/22 | 1,794 |
See accompanying notes to financial statements.
183
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments (continued) — December 31, 2014 (Unaudited)
Principal Amount (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
New York (continued) | ||||||||||||||||
$625 | New York State Dormitory Authority State Personal Income Tax Revenue, Series A, Callable 2/15/24 @ 100.00 | 5.00 | 2/15/26 | $ | 755 | |||||||||||
2,549 | ||||||||||||||||
Ohio — 8.80% | ||||||||||||||||
700 | American Municipal Power, Inc. Revenue, Series A, Callable 2/15/24 @ 100.00 | 5.00 | 2/15/27 | 813 | ||||||||||||
1,600 | Columbus Ohio State, GO, Series 1, Callable 7/1/23 @ 100.00 | 5.00 | 7/1/24 | 1,962 | ||||||||||||
1,400 | Cuyahoga County Ohio, GO, Series A | 5.00 | 12/1/19 | 1,632 | ||||||||||||
1,000 | Ohio State, GO, Series B | 5.00 | 9/15/17 | 1,111 | ||||||||||||
1,000 | Ohio State Building Authority State Facilities Revenue | 5.00 | 10/1/21 | 1,187 | ||||||||||||
6,705 | ||||||||||||||||
Oklahoma — 2.26% | ||||||||||||||||
450 | Oklahoma State Capital Improvement Authority State Facilities Revenue, Series A | 2.00 | 7/1/16 | 460 | ||||||||||||
1,150 | Oklahoma State Capital Improvement Authority State Facilities Revenue, Series A | 5.00 | 7/1/17 | 1,267 | ||||||||||||
1,727 | ||||||||||||||||
Pennsylvania — 2.90% | ||||||||||||||||
1,010 | Lackawanna County Pennsylvania Abington Heights School District, GO (State Aid Withholding) | 3.00 | 3/15/16 | 1,040 | ||||||||||||
1,000 | Pennsylvania State, GO, Series A | 5.00 | 5/1/20 | 1,171 | ||||||||||||
2,211 | ||||||||||||||||
South Carolina — 1.66% | ||||||||||||||||
1,100 | Richland County School District No. 2, GO, Series A, Callable 2/1/19 @ 100.00 (SCSDE) | 5.00 | 2/1/20 | 1,269 | ||||||||||||
Texas — 9.21% | ||||||||||||||||
1,000 | Collin County Texas, GO, Series A | 4.00 | 2/15/19 | 1,108 | ||||||||||||
1,250 | Dallas Texas Waterworks & Sewer System Revenue, Callable 10/1/21 @ 100.00 | 5.00 | 10/1/23 | 1,491 | ||||||||||||
1,435 | Sugar Land Texas, GO, Callable 2/15/19 @ 100.00 | 5.00 | 2/15/21 | 1,637 | ||||||||||||
1,800 | Texas State University Systems Financing Revenue | 5.00 | 3/15/17 | 1,964 | ||||||||||||
750 | Webb County Texas, GO | 4.50 | 2/15/19 | 832 | ||||||||||||
7,032 | ||||||||||||||||
Washington — 16.17% | ||||||||||||||||
500 | Everett Washington Water & Sewer Revenue | 5.00 | 12/1/17 | 555 | ||||||||||||
1,000 | King County Washington, GO | 5.25 | 1/1/23 | 1,240 | ||||||||||||
1,400 | King County Washington Sewer Revenue, Callable 1/1/22 @ 100.00 | 5.00 | 1/1/24 | 1,647 | ||||||||||||
750 | King County Washington Sewer Revenue | 5.00 | 1/1/20 | 881 | ||||||||||||
1,580 | Port of Seattle Washington Revenue, Intermediate Lien, Series B | 5.00 | 6/1/18 | 1,780 | ||||||||||||
1,150 | Skagit County Washington, GO | 4.00 | 12/1/17 | 1,251 | ||||||||||||
1,500 | Tacoma Washington Water Revenue, Series A, Callable 6/1/20 @ 100.00 | 5.00 | 12/1/22 | 1,748 | ||||||||||||
1,800 | Washington State, GO, Series R-2011-A | 5.00 | 1/1/18 | 2,014 | ||||||||||||
1,100 | Washington State Health Care Facilities Authority Providence Health & Services Revenue, Series A | 5.00 | 10/1/17 | 1,220 | ||||||||||||
12,336 | ||||||||||||||||
Wisconsin — 2.42% | ||||||||||||||||
1,220 | Menomonee Falls Wisconsin School District, GO, Callable 4/1/17 @ 100.00 (NATL-RE/FGIC) | 4.75 | 4/1/21 | 1,333 | ||||||||||||
500 | Wisconsin State, GO, Series C | 5.00 | 5/1/15 | 508 | ||||||||||||
1,841 | ||||||||||||||||
Total Municipal Bonds | 65,438 |
See accompanying notes to financial statements.
184
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments (concluded) — December 31, 2014 (Unaudited)
Shares (000) | Rate % | Maturity Date | Value (000) | |||||||||||||
Mutual Funds — 14.33% | ||||||||||||||||
9,996,684 | Federated U.S. Treasury Cash Reserve Fund, Institutional Shares (a) | 0.00 | $ | 9,996 | ||||||||||||
932,657 | SSgA Treasury Money Market Fund (a) | 0.00 | 933 | |||||||||||||
Total Mutual Funds | 10,929 | |||||||||||||||
Total Investments (cost $73,551) — 100.11% | 76,367 | |||||||||||||||
Liabilities in excess of other assets — (0.11)% | (85 | ) | ||||||||||||||
Net Assets — 100.00% | $ | 76,282 |
(a) | The rate disclosed is the rate in effect on December 31, 2014. |
AGM — Assured Guaranty Municipal Corporation
FGIC — Financial Guaranty Insurance Company
GO — General Obligation
NATL-RE — Reinsurance provided by National Reinsurance
SCSDE — Insured by South Carolina School Discount Enhancement
See accompanying notes to financial statements.
185
HC CAPITAL TRUST
Statements of Assets and Liabilities
As of December 31, 2014 (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 | $ | 502,123 | $ | 824,665 | $ | 557,011 | $ | 1,039,740 | ||||||||
Unrealized appreciation | 114,270 | 165,682 | 282,785 | 364,441 | ||||||||||||
Investments, at value | 616,393 | 990,347 | 839,796 | 1,404,181 | ||||||||||||
Cash | 3,423 | 7,104 | 110 | 879 | ||||||||||||
Foreign currency, at value (Cost $0, $0, $0 and $166, respectively) | — | — | — | 168 | ||||||||||||
Unrealized appreciation on forward currency contracts | — | — | — | 1,972 | ||||||||||||
Dividends and interest receivable | 927 | 1,491 | 804 | 1,400 | ||||||||||||
Margin deposits | — | — | — | 83 | ||||||||||||
Receivable for portfolio shares issued | 34,020 | 51,716 | 46,025 | 74,035 | ||||||||||||
Receivable from investments sold | 35,982 | 51,608 | 46,098 | 85,481 | ||||||||||||
Foreign tax reclaims receivable | 3 | 7 | 53 | 7 | ||||||||||||
Segregated cash for collateral | — | — | — | 1,360 | ||||||||||||
Variation margin receivable on future contracts | — | — | — | 18 | ||||||||||||
Variation margin receivable on interest rate swap agreements | — | — | — | 25 | ||||||||||||
Prepaid expenses | 17 | 12 | 22 | 20 | ||||||||||||
Total assets | 690,765 | 1,102,285 | 932,908 | 1,569,629 | ||||||||||||
LIABILITIES: | ||||||||||||||||
Swap agreements, at value | — | — | — | 51 | ||||||||||||
Unrealized depreciation on forward currency contracts | — | — | — | 928 | ||||||||||||
Payable to broker for swap agreements | — | — | — | 3,631 | ||||||||||||
Payable for collateral recorded on loaned securities | 4,194 | 7,104 | 110 | 326 | ||||||||||||
Payable for investments purchased | 940 | 632 | 288 | 25,330 | ||||||||||||
Payable for portfolio shares redeemed | 34,053 | 51,716 | 46,005 | 75,326 | ||||||||||||
Variation margin payable on future contracts | — | — | — | 510 | ||||||||||||
Variation margin payable on interest rate swap agreements | — | — | — | 26 | ||||||||||||
Advisory fees payable | 201 | 323 | 274 | 453 | ||||||||||||
Management fees payable | 28 | 45 | 38 | 64 | ||||||||||||
Administrative services fees payable | 4 | 7 | 6 | 9 | ||||||||||||
Trustee fees payable | 7 | 9 | 6 | 8 | ||||||||||||
Other accrued expenses | 75 | 89 | 58 | 83 | ||||||||||||
Total liabilities | 39,502 | 59,925 | 46,785 | 106,745 | ||||||||||||
NET ASSETS | $ | 651,263 | $ | 1,042,360 | $ | 886,123 | $ | 1,462,884 | ||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 35 | $ | 77 | $ | 41 | $ | 89 | ||||||||
Additional paid-in capital | 561,977 | 850,738 | 569,927 | 1,063,730 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | 247 | (14 | ) | (4 | ) | 195 | ||||||||||
Accumulated net realized gain/(loss) from investment transactions | (25,266 | ) | 25,877 | 33,374 | 32,913 | |||||||||||
Net unrealized appreciation on investments | 114,270 | 165,682 | 282,785 | 365,957 | ||||||||||||
Net Assets | $ | 651,263 | $ | 1,042,360 | $ | 886,123 | $ | 1,462,884 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 650,054 | $ | 1,041,038 | $ | 884,460 | $ | 1,460,986 | ||||||||
HC Advisors Shares | 1,209 | 1,322 | 1,663 | 1,898 | ||||||||||||
Total | $ | 651,263 | $ | 1,042,360 | $ | 886,123 | $ | 1,462,884 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING (Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 35,094 | 76,863 | 40,965 | 88,391 | ||||||||||||
HC Advisors Shares | 65 | 98 | 77 | 115 | ||||||||||||
Total | 35,159 | 76,961 | 41,042 | 88,506 | ||||||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 18.52 | $ | 13.54 | $ | 21.59 | $ | 16.53 | ||||||||
HC Advisors Shares | $ | 18.52 | $ | 13.55 | $ | 21.56 | $ | 16.52 |
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
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.
186
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2014 (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 | The Commodity Returns Strategy Portfolio(a) | |||||||||||||
ASSETS: | ||||||||||||||||
Investments, at cost | $ | 87,277 | $ | 148,823 | $ | 126,775 | $ | 953,196 | ||||||||
Unrealized appreciation (depreciation) | 27,063 | 47,543 | 31,099 | (39,142 | ) | |||||||||||
Investments, at value | 114,340 | 196,366 | 157,874 | 914,054 | ||||||||||||
Cash | 2,006 | 5,388 | — | 9,416 | ||||||||||||
Foreign currency, at value (Cost $0, $0, $0 and $980, respectively) | — | — | — | 1,387 | ||||||||||||
Swap agreements at value | — | — | — | 266 | ||||||||||||
Unrealized appreciation on futures | — | — | — | 1 | ||||||||||||
Unrealized appreciation on forward currency contracts | — | — | — | 1,335 | ||||||||||||
Dividends and interest receivable | 55 | 105 | 807 | 1,170 | ||||||||||||
Margin deposits | — | — | — | 15,011 | ||||||||||||
Receivable for portfolio shares issued | 10 | 10 | — | 5,123 | ||||||||||||
Receivable from investments sold | 333 | 592 | — | 2,081 | ||||||||||||
Foreign tax reclaims receivable | — | — | 1 | 200 | ||||||||||||
Segregated cash for collateral | — | — | — | 1,855 | ||||||||||||
Variation margin receivable on future contracts | — | — | — | 330 | ||||||||||||
Variation margin receivable on interest rate swap agreements | — | — | — | 11 | ||||||||||||
Prepaid expenses | 19 | 21 | 20 | 196 | ||||||||||||
Total assets | 116,763 | 202,482 | 158,702 | 952,436 | ||||||||||||
LIABILITIES: | ||||||||||||||||
Written options, at fair value (premiums received $0, $0, $0, and $251, respectively) | — | — | — | 221 | ||||||||||||
Swap agreements, at value | — | — | — | 8,462 | ||||||||||||
Unrealized depreciation on forward currency contracts | — | — | — | 395 | ||||||||||||
Unrealized depreciation on futures | — | — | — | 6,640 | ||||||||||||
Payable for collateral received on loaned securities | 2,009 | 5,388 | — | 9,393 | ||||||||||||
Distributions payable | — | — | — | 674 | ||||||||||||
Payable for investments purchased | 343 | 990 | — | 22,694 | ||||||||||||
Payable for portfolio shares redeemed | 1 | 159 | 157 | 264 | ||||||||||||
Payable to broker for swap collateral | — | — | — | 500 | ||||||||||||
Variation margin payable on future contracts | — | — | — | 590 | ||||||||||||
Variation margin payable on interest rate swap agreements | — | — | — | — | ||||||||||||
Accrued foreign capital gains tax | — | — | — | 6 | ||||||||||||
Advisory fees payable | 70 | 110 | 257 | 436 | ||||||||||||
Management fees payable | 5 | 8 | 7 | 41 | ||||||||||||
Administrative services fees payable | 1 | 1 | 1 | 6 | ||||||||||||
Trustee fees payable | — | 2 | 1 | 2 | ||||||||||||
Other accrued expenses | 9 | 17 | 2 | 315 | ||||||||||||
Total liabilities | 2,438 | 6,675 | 425 | 50,639 | ||||||||||||
NET ASSETS | $ | 114,325 | $ | 195,807 | $ | 158,277 | $ | 901,797 | ||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 5 | $ | 12 | $ | 47 | $ | 100 | ||||||||
Additional paid-in capital | 109,450 | 147,886 | 123,164 | 1,060,117 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | 10 | (39 | ) | 160 | 56 | |||||||||||
Accumulated net realized gain/(loss) from investment transactions | (22,203 | ) | 405 | 3,807 | (103,541 | ) | ||||||||||
Net unrealized appreciation/(depreciation) on investments | 27,063 | 47,543 | 31,099 | (54,935 | ) | |||||||||||
Net Assets | $ | 114,325 | $ | 195,807 | $ | 158,277 | $ | 901,797 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 114,117 | $ | 195,580 | $ | 158,277 | $ | 900,406 | ||||||||
HC Advisors Shares | 208 | 227 | — | 1,391 | ||||||||||||
Total | $ | 114,325 | $ | 195,807 | $ | 158,277 | $ | 901,797 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING (Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 5,225 | 12,277 | 47,076 | 99,936 | ||||||||||||
HC Advisors Shares | 10 | 14 | — | 154 | ||||||||||||
Total | 5,235 | 12,291 | 47,076 | 100,090 | ||||||||||||
Net Asset Value, offering and redemption price per share:(b) | ||||||||||||||||
HC Strategic Shares | $ | 21.84 | $ | 15.93 | $ | 3.36 | $ | 9.01 | ||||||||
HC Advisors Shares | $ | 21.82 | $ | 15.93 | $ | — | $ | 9.01 |
(a) | Statement has been consolidated. See Note 2O in Notes to Financial Statements for basis of consolidation. |
(b) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
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.
187
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2014 (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 | $ | 1,200,708 | $ | 2,747,319 | $ | 1,876,074 | $ | 103,009 | ||||||||
Unrealized appreciation (depreciation) | 102,204 | 111,784 | (93,998 | ) | 1,564 | |||||||||||
Investments, at value | 1,302,912 | 2,859,103 | 1,782,076 | 104,573 | ||||||||||||
Cash | 5,857 | 5,305 | 3,916 | 590 | ||||||||||||
Foreign currency, at value (Cost $4,019, $7,193, $19,722 and $0, respectively) | 4,053 | 7,241 | 19,744 | — | ||||||||||||
Unrealized appreciation on forward currency contracts | 21 | 34 | — | — | ||||||||||||
Dividends and interest receivable | 1,967 | 4,243 | 4,324 | 505 | ||||||||||||
Margin deposits | — | — | 213 | — | ||||||||||||
Receivable for portfolio shares issued | 428 | 969 | 603 | 255 | ||||||||||||
Receivable from investments sold | 2,498 | 992 | 3,269 | 1,477 | ||||||||||||
Foreign tax reclaims receivable | 2,094 | 5,068 | 44 | — | ||||||||||||
TBA sale commitments receivable | — | — | — | 527 | ||||||||||||
Variation margin receivable on future contracts | 1 | 1 | — | — | ||||||||||||
Prepaid expenses | 33 | 41 | 30 | 2 | ||||||||||||
Total assets | 1,319,864 | 2,882,997 | 1,814,219 | 107,929 | ||||||||||||
LIABILITIES: | ||||||||||||||||
Unrealized depreciation on forward currency contracts | 29 | 46 | — | — | ||||||||||||
TBA sale commitments, at fair value | 44 | 78 | 3,037 | 527 | ||||||||||||
Payable for collateral received on loaned securities | 6,985 | 13,029 | 13,912 | 591 | ||||||||||||
Distributions payable | — | — | — | 238 | ||||||||||||
Payable for investments purchased | 221 | 1,214 | 33,340 | 5,224 | ||||||||||||
Payable for portfolio shares redeemed | 9 | 11 | 15 | 31 | ||||||||||||
Advisory fees payable | 312 | 624 | 470 | 9 | ||||||||||||
Management fees payable | 58 | 122 | 74 | 4 | ||||||||||||
Administrative services fees payable | 8 | 18 | 12 | 1 | ||||||||||||
Trustee fees payable | 6 | 12 | 4 | — | ||||||||||||
Other accrued expenses | 170 | 267 | 252 | 4 | ||||||||||||
Total liabilities | 7,842 | 15,421 | 51,116 | 6,629 | ||||||||||||
NET ASSETS | $ | 1,312,022 | $ | 2,867,576 | $ | 1,763,103 | $ | 101,300 | ||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 121 | $ | 281 | $ | 102 | $ | 10 | ||||||||
Additional paid-in capital | 1,183,384 | 2,747,651 | 1,890,413 | 99,717 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | 1,430 | (3,457 | ) | (881 | ) | (120 | ) | |||||||||
Accumulated net realized gain/(loss) from investment transactions | 25,272 | 12,153 | (29,390 | ) | 129 | |||||||||||
Net unrealized appreciation/(depreciation) on investments | 101,815 | 110,948 | (97,141 | ) | 1,564 | |||||||||||
Net Assets | $ | 1,312,022 | $ | 2,867,576 | $ | 1,763,103 | $ | 101,300 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 1,309,387 | $ | 2,864,335 | $ | 1,760,599 | $ | 98,439 | ||||||||
HC Advisors Shares | 2,635 | 3,241 | 2,504 | 2,861 | ||||||||||||
Total | $ | 1,312,022 | $ | 2,867,576 | $ | 1,763,103 | $ | 101,300 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING (Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 121,060 | 280,407 | 102,088 | 9,935 | ||||||||||||
HC Advisors Shares | 244 | 318 | 145 | 289 | ||||||||||||
Total | 121,304 | 280,725 | 102,233 | 10,224 | ||||||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 10.82 | $ | 10.21 | $ | 17.25 | $ | 9.91 | ||||||||
HC Advisors Shares | $ | 10.82 | $ | 10.21 | $ | 17.24 | $ | 9.90 |
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
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.
188
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2014 (Unaudited)
(Amounts in thousands, except per share amounts)
The Fixed Income Opportunity Portfolio | The U.S. Government Fixed Income Securities Portfolio | The Inflation Protected Securities Portfolio | The U.S. Corporate Fixed Income Securities Portfolio | |||||||||||||
ASSETS: | ||||||||||||||||
Investments, at cost | $ | 800,593 | $ | 267,706 | $ | 510,059 | $ | 242,200 | ||||||||
Unrealized appreciation (depreciation) | (16,050 | ) | 4,586 | (1,289 | ) | 3,505 | ||||||||||
Investments, at value | 784,543 | 272,292 | 508,770 | 245,705 | ||||||||||||
Cash | 4,349 | — | — | 4,451 | ||||||||||||
Dividends and interest receivable | 10,989 | 1,178 | 1,863 | 2,097 | ||||||||||||
Receivable for portfolio shares issued | 1,642 | 1,303 | 1,070 | 1,362 | ||||||||||||
Receivable from investments sold | — | 5,699 | 7,466 | — | ||||||||||||
Variation margin receivable on future contracts | 159 | — | — | — | ||||||||||||
Prepaid expenses and other assets | 16 | 16 | 77 | 10 | ||||||||||||
Total assets | 801,698 | 280,488 | 519,246 | 253,625 | ||||||||||||
LIABILITIES: | ||||||||||||||||
Variation margin payable for futures contracts | 42 | — | — | — | ||||||||||||
Payable for collateral related loan securities | 9,349 | — | — | 4,451 | ||||||||||||
Distributions payable | — | 367 | — | 743 | ||||||||||||
Payable for investments purchased | 3,630 | 5,945 | 8,502 | — | ||||||||||||
Payable for portfolio shares redeemed | 1 | 73 | — | 70 | ||||||||||||
Advisory fees payable | 620 | 12 | 16 | 40 | ||||||||||||
Management fees payable | 47 | 12 | 22 | 16 | ||||||||||||
Administrative services fees payable | 5 | 2 | 3 | 2 | ||||||||||||
Trustee fees payable | 2 | 1 | 10 | 1 | ||||||||||||
Other accrued expenses | 25 | 17 | — | 24 | ||||||||||||
Total liabilities | 13,721 | 6,429 | 8,553 | 5,347 | ||||||||||||
NET ASSETS | $ | 787,977 | $ | 274,059 | $ | 510,693 | $ | 248,278 | ||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 112 | $ | 27 | $ | 51 | $ | 25 | ||||||||
Additional paid-in capital | 802,789 | 269,627 | 513,033 | 244,754 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | 126 | (5 | ) | (1,695 | ) | (16 | ) | |||||||||
Accumulated net realized gain/(loss) from investment transactions | 843 | (176 | ) | 593 | 10 | |||||||||||
Net unrealized appreciation/(depreciation) on investments | (15,893 | ) | 4,586 | (1,289 | ) | 3,505 | ||||||||||
Net Assets | $ | 787,977 | $ | 274,059 | $ | 510,693 | $ | 248,278 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 786,939 | $ | 274,059 | $ | 510,692 | $ | 248,278 | ||||||||
HC Advisors Shares | 1,038 | — | 1 | — | ||||||||||||
Total | $ | 787,977 | $ | 274,059 | $ | 510,693 | $ | 248,278 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING (Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | $ | 111,583 | $ | 27,228 | $ | 51,138 | $ | 24,572 | ||||||||
HC Advisors Shares | 147 | — | — | — | ||||||||||||
Total | 111,730 | 27,228 | 51,138 | 24,572 | ||||||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 7.05 | $ | 10.07 | $ | 9.99 | $ | 10.10 | ||||||||
HC Advisors Shares | $ | 7.05 | $ | — | $ | 9.99 | $ | — |
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
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.
189
HC CAPITAL TRUST
Statements of Assets and Liabilities (concluded)
As of December 31, 2014 (Unaudited)
(Amounts in thousands, except per share amounts)
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 | |||||||||||||
ASSETS: | ||||||||||||||||
Investments, at cost | $ | 301,092 | $ | 20,718 | $ | 403,390 | $ | 73,551 | ||||||||
Unrealized appreciation | 4,042 | 257 | 10,451 | 2,816 | ||||||||||||
Investments, at value | 305,134 | 20,975 | 413,841 | 76,367 | ||||||||||||
Dividends and interest receivable | 640 | 215 | 4,757 | 860 | ||||||||||||
Receivable for portfolio shares issued | 1,606 | 37 | 1,570 | 133 | ||||||||||||
Receivable from investments sold | 4,641 | — | — | — | ||||||||||||
TBA sale commitments receivable | 2,416 | — | — | — | ||||||||||||
Prepaid expenses | 12 | 11 | 17 | 10 | ||||||||||||
Total assets | 314,449 | 21,238 | 420,185 | 77,370 | ||||||||||||
LIABILITIES: | ||||||||||||||||
TBA sale commitments, at fair value | 2,416 | — | — | — | ||||||||||||
Distributions payable | 801 | 37 | 1,011 | 140 | ||||||||||||
Cash overdraft | 2 | — | — | — | ||||||||||||
Payable for investments purchased | 36,332 | — | 2,568 | 809 | ||||||||||||
Payable for portfolio shares redeemed | 77 | 2 | 261 | 100 | ||||||||||||
Income payable on TBA sale commitments | 6 | — | — | — | ||||||||||||
Advisory fees payable | 12 | 2 | 259 | 7 | ||||||||||||
Management fees payable | 12 | 1 | 18 | 4 | ||||||||||||
Administrative services fees payable | 2 | — | 3 | — | ||||||||||||
Trustee fees payable | 2 | — | 1 | 2 | ||||||||||||
Other accrued expenses | 32 | 8 | 13 | 26 | ||||||||||||
Total liabilities | 39,694 | 50 | 4,134 | 1,088 | ||||||||||||
NET ASSETS | $ | 274,755 | $ | 21,188 | $ | 416,051 | $ | 76,282 | ||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 28 | $ | 2 | $ | 41 | $ | 7 | ||||||||
Additional paid-in capital | 276,294 | 20,948 | 414,445 | 73,489 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | (836 | ) | (18 | ) | (65 | ) | (25 | ) | ||||||||
Accumulated net realized gain/(loss) from investment transactions | (4,773 | ) | 1 | (8,821 | ) | (5 | ) | |||||||||
Net unrealized appreciation on investments | 4,042 | 257 | 10,451 | 2,816 | ||||||||||||
Net Assets | $ | 274,755 | $ | 21,188 | $ | 416,051 | $ | 76,282 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 274,755 | $ | 21,188 | $ | 413,969 | $ | 75,678 | ||||||||
HC Advisors Shares | — | — | 2,082 | 604 | ||||||||||||
Total | $ | 274,755 | $ | 21,188 | $ | 416,051 | $ | 76,282 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING (Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 27,752 | 2,125 | 40,936 | 7,283 | ||||||||||||
HC Advisors Shares | — | — | 206 | 58 | ||||||||||||
Total | 27,752 | 2,125 | 41,142 | 7,341 | ||||||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 9.90 | $ | 9.97 | $ | 10.11 | $ | 10.39 | ||||||||
HC Advisors Shares | $ | — | $ | — | $ | 10.11 | $ | 10.39 |
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
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.
190
HC CAPITAL TRUST
Statements of Operations
For the Six Months Ended December 31, 2014 (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 | $ | 4 | $ | 7 | $ | 1 | $ | 1,498 | ||||||||
Dividends (net of foreign withholding tax of $3, $5, $0 and $19, respectively) | 6,987 | 11,516 | 5,221 | 7,892 | ||||||||||||
Income from securities lending (net) | 25 | 47 | 8 | 13 | ||||||||||||
Total Investment Income | 7,016 | 11,570 | 5,230 | 9,403 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 609 | 996 | 814 | 1,323 | ||||||||||||
Management fees | 159 | 262 | 216 | 370 | ||||||||||||
Administrative services fees | 94 | 155 | 128 | �� | 219 | |||||||||||
Distribution fees – HC Advisors Shares | 2 | 2 | 2 | 3 | ||||||||||||
Professional fees | 30 | 37 | 34 | 53 | ||||||||||||
Transfer agent fees | 1 | 2 | 2 | 2 | ||||||||||||
Compliance service fees | 5 | 6 | 6 | 9 | ||||||||||||
Custodian fees | 31 | 36 | 32 | 49 | ||||||||||||
Registration and filing fees | 10 | 7 | 9 | 8 | ||||||||||||
Trustee fees | 13 | 17 | 15 | 24 | ||||||||||||
Other | 17 | 19 | 30 | 52 | ||||||||||||
Total expenses before waivers and expenses paid indirectly | 971 | 1,539 | 1,288 | 2,112 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | (2 | ) | (2 | ) | (2 | ) | (3 | ) | ||||||||
Expenses paid indirectly | (21 | ) | (42 | ) | (7 | ) | (12 | ) | ||||||||
Net Expenses | 948 | 1,495 | 1,279 | 2,097 | ||||||||||||
Net Investment Income | 6,068 | 10,075 | 3,951 | 7,306 | ||||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | 44,435 | 76,663 | 55,547 | 55,070 | ||||||||||||
Net realized gains/(losses) from futures transactions | — | — | — | 10,870 | ||||||||||||
Net realized gains/(losses) from written options transactions | — | — | — | (109 | ) | |||||||||||
Net realized gains/(losses) from swap transactions | — | — | — | (474 | ) | |||||||||||
Net realized gains/(losses) from foreign currency transactions | — | — | — | 828 | ||||||||||||
Net realized gains/(losses) from investments, futures, written options, swap transactions, foreign currency transactions | 44,435 | 76,663 | 55,547 | 66,096 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments | (21,438 | ) | (39,815 | ) | (1,010 | ) | 24,056 | |||||||||
Change in unrealized appreciation/(depreciation) on futures | — | — | — | (618 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on written options | — | — | — | (2 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on swaps | — | — | — | (1,162 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on foreign currency translations | — | — | — | 1,045 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, written options, swap transactions, foreign currency transactions | (21,438 | ) | (39,815 | ) | (1,010 | ) | 23,319 | |||||||||
Net realized/unrealized gains/(losses) from investments, futures, written options, swap transactions, foreign currency transactions | 22,997 | 36,848 | 54,537 | 89,415 | ||||||||||||
Change in net assets resulting from operations | $ | 29,065 | $ | 46,923 | $ | 58,488 | $ | 96,721 |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
191
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2014 (Unaudited)
(Amounts in thousands)
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(a) | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | — | $ | — | $ | — | $ | 755 | ||||||||
Dividends (net of foreign withholding tax of $2, $3, $4 and $616, respectively) | 418 | 725 | 1,923 | 6,462 | ||||||||||||
Income from securities lending (net) | 36 | 84 | — | 61 | ||||||||||||
Total Investment Income | 454 | 809 | 1,923 | 7,278 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 348 | 615 | 553 | 2,974 | ||||||||||||
Management fees | 28 | 45 | 42 | 273 | ||||||||||||
Administrative services fees | 16 | 27 | 25 | 161 | ||||||||||||
Distribution fees – HC Advisors Shares | — | — | — | 2 | ||||||||||||
Professional fees | 5 | 6 | 4 | 48 | ||||||||||||
Transfer agent fees | — | — | — | 2 | ||||||||||||
Compliance service fees | 1 | 1 | 1 | 7 | ||||||||||||
Custodian fees | 16 | 8 | 5 | 97 | ||||||||||||
Registration and filing fees | 6 | 4 | 5 | 17 | ||||||||||||
Trustee fees | 2 | 3 | 2 | 21 | ||||||||||||
Other | 25 | 8 | 11 | 88 | ||||||||||||
Total expenses before waivers and expenses paid indirectly | 447 | 717 | 648 | 3,690 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | — | — | — | (2 | ) | |||||||||||
Expenses paid indirectly | (3 | ) | (5 | ) | (1 | ) | (5 | ) | ||||||||
Net Expenses | 444 | 712 | 647 | 3,683 | ||||||||||||
Net Investment Income | 10 | 97 | 1,276 | 3,595 | ||||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | 6,229 | 7,146 | 8,629 | 36,012 | ||||||||||||
Net realized gains/(losses) from futures transactions | — | — | — | (42,080 | ) | |||||||||||
Net realized gains/(losses) from written options transactions | — | — | — | 47 | ||||||||||||
Net realized gains/(losses) from swap transactions | — | — | — | (97,110 | ) | |||||||||||
Net realized gains/(losses) from foreign currency transactions | — | — | (1 | ) | 2,267 | |||||||||||
Net realized gains/(losses) from investments, futures, foreign currency transactions | 6,229 | 7,146 | 8,628 | (100,864 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on investments | (3,045 | ) | (1,893 | ) | 7,734 | (144,812 | ) | |||||||||
Change in unrealized appreciation/(depreciation) on futures | — | — | — | (13,915 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on written options | — | — | — | (79 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on swaps | — | — | — | (9,102 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on foreign currency translations | — | — | — | 846 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, written options, swap transactions, foreign currency transactions | (3,045 | ) | (1,893 | ) | 7,734 | (167,062 | ) | |||||||||
Net realized/unrealized gains/(losses) from investments, futures, foreign currency transactions | 3,184 | 5,253 | 16,362 | (267,926 | ) | |||||||||||
Change in net assets resulting from operations | $ | 3,194 | $ | 5,350 | $ | 17,638 | $ | (264,331 | ) |
(a) | Statement has been consolidated. See Note 2O in Notes to Financial Statements for basis of consolidation. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
192
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2014 (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 | $ | 1 | $ | 1,151 | ||||||||
Dividends (net of foreign withholding tax of $2,159, $4,383, $3,146 and $0, respectively) | 14,510 | 28,699 | 26,860 | — | ||||||||||||
Income from securities lending (net) | 175 | 340 | 218 | 1 | ||||||||||||
Total Investment Income | 14,686 | 29,040 | 27,079 | 1,152 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 1,731 | 3,215 | 3,286 | 53 | ||||||||||||
Management fees | 380 | 728 | 462 | 26 | ||||||||||||
Administrative services fees | 222 | 426 | 273 | 15 | ||||||||||||
Distribution fees – HC Advisors Shares | 4 | 5 | 4 | 4 | ||||||||||||
Professional fees | 117 | 137 | 93 | 4 | ||||||||||||
Transfer agent fees | 5 | 6 | 3 | — | ||||||||||||
Compliance service fees | 18 | 21 | 12 | — | ||||||||||||
Custodian fees | 534 | 523 | 1,126 | 4 | ||||||||||||
Registration and filing fees | 13 | 15 | 12 | 4 | ||||||||||||
Trustee fees | 51 | 60 | 33 | 1 | ||||||||||||
Other | 189 | 177 | 91 | 23 | ||||||||||||
Total expenses before waivers and expenses paid indirectly | 3,264 | 5,313 | 5,395 | 134 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | (4 | ) | (5 | ) | (4 | ) | (4 | ) | ||||||||
Expenses paid indirectly | (3 | ) | (9 | ) | (32 | ) | — | |||||||||
Net Expenses | 3,257 | 5,299 | 5,359 | 130 | ||||||||||||
Net Investment Income | 11,429 | 23,741 | 21,720 | 1,022 | ||||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | 52,902 | 61,946 | 21,458 | 525 | ||||||||||||
Net realized gains/(losses) from futures transactions | (116 | ) | (203 | ) | — | — | ||||||||||
Net realized gains/(losses) from foreign currency transactions | (524 | ) | (1,278 | ) | (2,513 | ) | — | |||||||||
Net realized gains/(losses) from investments, futures, foreign currency transactions | 52,262 | 60,465 | 18,945 | 525 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments | (209,502 | ) | (368,459 | ) | (236,018 | ) | (42 | ) | ||||||||
Change in unrealized appreciation/(depreciation) on futures | 15 | 25 | — | — | ||||||||||||
Change in unrealized appreciation/(depreciation) on foreign currency translations | (11 | ) | (26 | ) | (56 | ) | — | |||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, foreign currency transactions | (209,498 | ) | (368,460 | ) | (236,074 | ) | (42 | ) | ||||||||
Net realized/unrealized gains/(losses) from investments, futures, foreign currency transactions | (157,236 | ) | (307,995 | ) | (217,129 | ) | 483 | |||||||||
Change in net assets resulting from operations | $ | (145,807 | ) | $ | (284,254 | ) | $ | (195,409 | ) | $ | 1,505 |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
193
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2014 (Unaudited)
(Amounts in thousands)
The Fixed Income Opportunity Portfolio | The U.S. Government Fixed Income Securities Portfolio | The Inflation Protected Securities Portfolio | The U.S. Corporate Fixed Income Securities Portfolio | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 21,117 | $ | 1,757 | $ | 807 | $ | 3,813 | ||||||||
Dividends (net of foreign withholding tax of $0, $0, $0 and $0, respectively) | 638 | — | — | — | ||||||||||||
Income from securities lending (net) | 44 | — | — | 10 | ||||||||||||
Total Investment Income | 21,799 | 1,757 | 807 | 3,823 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 894 | 67 | 94 | 250 | ||||||||||||
Management fees | 201 | 65 | 131 | 64 | ||||||||||||
Administrative services fees | 119 | 39 | 77 | 38 | ||||||||||||
Distribution fees – HC Advisors Shares | 1 | — | — | — | ||||||||||||
Professional fees | 29 | 10 | 59 | 14 | ||||||||||||
Transfer agent fees | 1 | — | 1 | — | ||||||||||||
Compliance service fees | 5 | 1 | 3 | 7 | ||||||||||||
Custodian fees | 24 | 11 | 14 | 10 | ||||||||||||
Registration and filing fees | 14 | 6 | 60 | 9 | ||||||||||||
Trustee fees | 13 | 4 | 9 | 5 | ||||||||||||
Other | 50 | 9 | 21 | 15 | ||||||||||||
Total expenses before waivers and expenses paid indirectly | 1,351 | 212 | 469 | 412 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | (1 | ) | — | — | — | |||||||||||
Net Expenses | 1,350 | 212 | 469 | 412 | ||||||||||||
Net Investment Income | 20,449 | 1,545 | 338 | 3,411 | ||||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | 3,044 | 635 | (134 | ) | 2,423 | |||||||||||
Net realized gains/(losses) from futures transactions | 95 | — | — | — | ||||||||||||
Net realized gains/(losses) from foreign currency transactions | (1 | ) | — | — | — | |||||||||||
Net realized gains/(losses) from investments, futures, foreign currency transactions | 3,138 | 635 | (134 | ) | 2,423 | |||||||||||
Change in unrealized appreciation/(depreciation) on investments | (46,765 | ) | 2,626 | (10,977 | ) | (3,163 | ) | |||||||||
Change in unrealized appreciation/(depreciation) on futures | 159 | — | — | — | ||||||||||||
Change in unrealized appreciation/(depreciation) on foreign currency translations | — | — | — | — | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, foreign currency transactions | (46,606 | ) | 2,626 | (10,977 | ) | (3,163 | ) | |||||||||
Net realized/unrealized gains/(losses) from investments, futures, foreign currency transactions | (43,468 | ) | 3,261 | (11,111 | ) | (740 | ) | |||||||||
Change in net assets resulting from operations | $ | (23,019 | ) | $ | 4,806 | $ | (10,773 | ) | $ | 2,671 |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
194
HC CAPITAL TRUST
Statements of Operations (concluded)
For the Six Months Ended December 31, 2014 (Unaudited)
(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 | The Intermediate Term Municipal Bond II Portfolio | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 2,838 | $ | 162 | $ | 4,822 | $ | 810 | ||||||||
Total Investment Income | 2,838 | 162 | 4,822 | 810 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 69 | 14 | 325 | 43 | ||||||||||||
Management fees | 66 | 5 | 106 | 19 | ||||||||||||
Administrative services fees | 39 | 3 | 62 | 11 | ||||||||||||
Distribution fees – HC Advisors Shares | — | — | 3 | 1 | ||||||||||||
Professional fees | 12 | 1 | 8 | 11 | ||||||||||||
Compliance service fees | 2 | — | 1 | 1 | ||||||||||||
Custodian fees | 10 | 1 | 8 | 11 | ||||||||||||
Registration and filing fees | 5 | 5 | 6 | 6 | ||||||||||||
Trustee fees | 5 | — | 4 | 5 | ||||||||||||
Other | 14 | 2 | 25 | 14 | ||||||||||||
Total expenses before waivers and expenses paid indirectly | 222 | 31 | 548 | 122 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | — | — | (3 | ) | (1 | ) | ||||||||||
Net Expenses | 222 | 31 | 545 | 121 | ||||||||||||
Net Investment Income | 2,616 | 131 | 4,277 | 689 | ||||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | 783 | 1 | 2,465 | 377 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments | 983 | (125 | ) | (2,101 | ) | (150 | ) | |||||||||
Change in unrealized appreciation/(depreciation) on investments | 983 | (125 | ) | (2,101 | ) | (150 | ) | |||||||||
Net realized/unrealized gains/(losses) from investments | 1,766 | (124 | ) | 364 | 227 | |||||||||||
Change in net assets resulting from operations | $ | 4,382 | $ | 7 | $ | 4,641 | $ | 916 |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
195
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 | ||||||||||||||||||||||
For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | |||||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 6,068 | $ | 15,596 | $ | 10,075 | $ | 23,478 | $ | 3,951 | $ | 8,703 | ||||||||||||
Net realized gains/(losses) from investments, foreign currency transactions | 44,435 | 100,427 | 76,663 | 135,287 | 55,547 | 73,925 | ||||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments, foreign currency transactions | (21,438 | ) | 15,325 | (39,815 | ) | 38,645 | (1,010 | ) | 76,692 | |||||||||||||||
Change in net assets resulting from operations | 29,065 | 131,348 | 46,923 | 197,410 | 58,488 | 159,320 | ||||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (6,574 | ) | (15,732 | ) | (11,386 | ) | (23,473 | ) | (4,282 | ) | (8,824 | ) | ||||||||||||
HC Advisors Shares | (12 | ) | (39 | ) | (15 | ) | (42 | ) | (8 | ) | (18 | ) | ||||||||||||
Net realized gains/(losses) from investments, foreign currency transactions: | ||||||||||||||||||||||||
HC Strategic Shares | — | — | (120,230 | ) | (142,904 | ) | (9,890 | ) | — | |||||||||||||||
HC Advisors Shares | — | — | (169 | ) | (307 | ) | (19 | ) | — | |||||||||||||||
Change in net assets resulting from distributions | (6,586 | ) | (15,771 | ) | (131,800 | ) | (166,726 | ) | (14,199 | ) | (8,842 | ) | ||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 228,283 | $ | 96,390 | $ | 426,329 | $ | 240,649 | $ | 215,628 | $ | 160,036 | ||||||||||||
Proceeds from reinvestment of dividends | 5,390 | 13,169 | 130,628 | 164,446 | 12,099 | 7,248 | ||||||||||||||||||
Cost of shares redeemed | (234,701 | ) | (276,146 | ) | (467,813 | ) | (335,962 | ) | (227,285 | ) | (213,896 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (1,028 | ) | (166,587 | ) | 89,144 | 69,133 | 442 | (46,612 | ) | |||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | — | 139 | 78 | 311 | — | 136 | ||||||||||||||||||
Cost of shares redeemed | (50 | ) | (777 | ) | (69 | ) | (1,008 | ) | (111 | ) | (289 | ) | ||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | (50 | ) | (638 | ) | 9 | (697 | ) | (111 | ) | (153 | ) | |||||||||||||
Change in net assets from shares of beneficial interest | $ | (1,078 | ) | $ | (167,225 | ) | $ | 89,153 | $ | 68,436 | $ | 331 | $ | (46,765 | ) | |||||||||
Change in net assets | 21,401 | (51,648 | ) | 4,276 | 99,120 | 44,620 | 103,713 | |||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 629,862 | 681,510 | 1,038,084 | 938,964 | 841,503 | 737,790 | ||||||||||||||||||
End of period | $ | 651,263 | $ | 629,862 | $ | 1,042,360 | $ | 1,038,084 | $ | 886,123 | $ | 841,503 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | 247 | $ | 765 | $ | (14 | ) | $ | 1,312 | $ | (4 | ) | $ | 335 | ||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 12,490 | 5,816 | 29,003 | 16,618 | 10,089 | 8,247 | ||||||||||||||||||
Reinvested | 292 | 792 | 9,718 | 12,076 | 564 | 374 | ||||||||||||||||||
Redeemed | (12,840 | ) | (16,960 | ) | (31,971 | ) | (22,760 | ) | (10,639 | ) | (11,108 | ) | ||||||||||||
Change in HC Strategic Shares | (58 | ) | (10,352 | ) | 6,750 | 5,934 | 14 | (2,487 | ) | |||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | 9 | 6 | 22 | — | 7 | ||||||||||||||||||
Redeemed | (3 | ) | (45 | ) | (5 | ) | (69 | ) | (5 | ) | (15 | ) | ||||||||||||
Change in HC Advisors Shares | (3 | ) | (36 | ) | 1 | (47 | ) | (5 | ) | (8 | ) | |||||||||||||
Total change in shares | (61 | ) | (10,388 | ) | 6,751 | 5,887 | 9 | (2,495 | ) |
Amounts designated as “—” are $0 or have been rounded to $0
See accompanying notes to financial statements.
196
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 | ||||||||||||||||||||||
For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | |||||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 7,306 | $ | 14,857 | $ | 10 | $ | 385 | $ | 97 | $ | 367 | ||||||||||||
Net realized gains/(losses) from investments, futures, written options, swap transactions, foreign currency transactions | 66,096 | 106,235 | 6,229 | 22,534 | 7,146 | 30,944 | ||||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments, futures, written options, swap transactions, foreign currency transactions | 23,319 | 133,438 | (3,045 | ) | 2,920 | (1,893 | ) | 2,645 | ||||||||||||||||
Change in net assets resulting from operations | 96,721 | 254,530 | 3,194 | 25,839 | 5,350 | 33,956 | ||||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (7,258 | ) | (15,609 | ) | (34 | ) | (421 | ) | (107 | ) | (330 | ) | ||||||||||||
HC Advisors Shares | (10 | ) | (23 | ) | — | (1 | ) | — | — | |||||||||||||||
Net realized gains/(losses) from investments, futures, written options, swap transactions, foreign currency transactions: | ||||||||||||||||||||||||
HC Strategic Shares | (93,716 | ) | (106,330 | ) | — | — | (19,022 | ) | (27,745 | ) | ||||||||||||||
HC Advisors Shares | (125 | ) | (167 | ) | — | — | (25 | ) | (39 | ) | ||||||||||||||
Change in net assets resulting from distributions | (101,109 | ) | (122,129 | ) | (34 | ) | (422 | ) | (19,154 | ) | (28,114 | ) | ||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 426,205 | $ | 386,626 | $ | 43,045 | $ | 22,645 | $ | 62,767 | $ | 41,223 | ||||||||||||
Proceeds from reinvestment of dividends | 100,319 | 120,585 | 28 | 363 | 19,090 | 28,000 | ||||||||||||||||||
Cost of shares redeemed | (503,875 | ) | (339,573 | ) | (45,807 | ) | (47,385 | ) | (54,950 | ) | (69,762 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 22,649 | 167,638 | (2,734 | ) | (24,377 | ) | 26,907 | (539 | ) | |||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 107 | 146 | 4 | 17 | 15 | 51 | ||||||||||||||||||
Cost of shares redeemed | (140 | ) | (245 | ) | (10 | ) | (43 | ) | (10 | ) | (60 | ) | ||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | (33 | ) | (99 | ) | (6 | ) | (26 | ) | 5 | (9 | ) | |||||||||||||
Change in net assets from shares of beneficial interest | $ | 22,616 | $ | 167,539 | $ | (2,740 | ) | $ | (24,403 | ) | $ | 26,912 | $ | (548 | ) | |||||||||
Change in net assets | 18,228 | 299,940 | 420 | 1,014 | 13,108 | 5,294 | ||||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 1,444,656 | 1,144,716 | 113,905 | 112,891 | 182,699 | 177,405 | ||||||||||||||||||
End of period | $ | 1,462,884 | $ | 1,444,656 | $ | 114,325 | $ | 113,905 | $ | 195,807 | $ | 182,699 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | 195 | $ | 157 | $ | 10 | $ | 34 | $ | (39 | ) | $ | (28 | ) | ||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 24,713 | 24,108 | 2,055 | 1,108 | 3,587 | 2,429 | ||||||||||||||||||
Reinvested | 6,103 | 7,822 | 1 | 18 | 1,229 | 1,753 | ||||||||||||||||||
Redeemed | (29,369 | ) | (21,161 | ) | (2,187 | ) | (2,352 | ) | (3,152 | ) | (3,936 | ) | ||||||||||||
Change in HC Strategic Shares | 1,447 | 10,769 | (131 | ) | (1,226 | ) | 1,664 | 246 | ||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | 6 | 9 | — | 1 | 1 | 3 | ||||||||||||||||||
Redeemed | (8 | ) | (15 | ) | — | (2 | ) | (1 | ) | (3 | ) | |||||||||||||
Change in HC Advisors Shares | (2 | ) | (6 | ) | — | (1 | ) | — | — | |||||||||||||||
Total change in shares | 1,445 | 10,763 | (131 | ) | (1,227 | ) | 1,664 | 246 |
Amounts designated as “—” are $0 or have been rounded to $0
See accompanying notes to financial statements.
197
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 | ||||||||||||||||||||||
For the Six Months Ended December 31, 2014 | For Period September 12, 2013 through June 30, 2014(a) | For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | |||||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 1,276 | $ | 2,676 | $ | 3,595 | $ | 9,200 | $ | 11,429 | $ | 50,196 | ||||||||||||
Net realized gains/(losses) from investments, futures, foreign currency transactions | 8,628 | 2,250 | (100,864 | ) | 42,982 | 52,262 | 169,384 | |||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments, futures, written options, swap transactions, foreign currency transactions | 7,734 | 23,365 | (167,062 | ) | 133,259 | (209,498 | ) | 101,889 | ||||||||||||||||
Change in net assets resulting from operations | 17,638 | 28,291 | (264,331 | ) | 185,441 | (145,807 | ) | 321,469 | ||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (2,240 | ) | (1,546 | ) | (6,253 | ) | (10,032 | ) | (14,041 | ) | (51,093 | ) | ||||||||||||
HC Advisors Shares | — | — | (9 | ) | (13 | ) | (29 | ) | (101 | ) | ||||||||||||||
Net realized gains/(losses) from investments, futures, foreign currency transactions: | ||||||||||||||||||||||||
HC Strategic Shares | (7,059 | ) | (18 | ) | (3,435 | ) | — | (152,759 | ) | (4,102 | ) | |||||||||||||
HC Advisors Shares | — | — | (5 | ) | — | (336 | ) | (8 | ) | |||||||||||||||
Change in net assets resulting from distributions | (9,299 | ) | (1,564 | ) | (9,702 | ) | (10,045 | ) | (167,165 | ) | (55,304 | ) | ||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 11,495 | $ | 177,266 | $ | 276,177 | $ | 333,653 | $ | 145,838 | $ | 167,603 | ||||||||||||
Proceeds from reinvestment of dividends | 9,171 | 1,291 | 8,646 | 8,308 | 132,294 | 45,940 | ||||||||||||||||||
Cost of shares redeemed | (42,311 | ) | (33,701 | ) | (285,364 | ) | (248,890 | ) | (269,987 | ) | (251,509 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (21,645 | ) | 144,856 | (541 | ) | 93,071 | 8,145 | (37,966 | ) | |||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | — | — | 189 | 339 | 207 | 247 | ||||||||||||||||||
Cost of shares redeemed | — | — | (32 | ) | (93 | ) | (47 | ) | (377 | ) | ||||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | — | — | 157 | 246 | 160 | (130 | ) | |||||||||||||||||
Change in net assets from shares of beneficial interest | $ | (21,645 | ) | $ | 144,856 | $ | (384 | ) | $ | 93,317 | $ | 8,305 | $ | (38,096 | ) | |||||||||
Change in net assets | (13,306 | ) | 171,583 | (274,417 | ) | 268,713 | (304,667 | ) | 228,069 | |||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 171,583 | — | 1,176,214 | 907,501 | 1,616,689 | 1,388,620 | ||||||||||||||||||
End of period | $ | 158,277 | $ | 171,583 | $ | 901,797 | $ | 1,176,214 | $ | 1,312,022 | $ | 1,616,689 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | 160 | $ | 1,124 | $ | 56 | $ | 268 | $ | 1,430 | $ | 4,071 | ||||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 3,560 | 63,884 | 29,111 | 30,232 | 11,992 | 12,672 | ||||||||||||||||||
Reinvested | 2,741 | 467 | 925 | 757 | 11,980 | 3,451 | ||||||||||||||||||
Redeemed | (12,919 | ) | (10,657 | ) | (31,059 | ) | (22,352 | ) | (21,930 | ) | (19,178 | ) | ||||||||||||
Change in HC Strategic Shares | (6,618 | ) | 53,694 | (1,023 | ) | 8,637 | 2,042 | (3,055 | ) | |||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | — | 18 | 31 | 16 | 20 | ||||||||||||||||||
Redeemed | — | — | (3 | ) | (9 | ) | (3 | ) | (29 | ) | ||||||||||||||
Change in HC Advisors Shares | — | — | 15 | 22 | 13 | (9 | ) | |||||||||||||||||
Total change in shares | (6,618 | ) | 53,694 | (1,008 | ) | 8,659 | 2,055 | (3,064 | ) |
(a) | Commencement of operations. |
(b) | Statement has been consolidated. See Note 2O in the Notes to Financial Statements for basis of consolidation. |
Amounts designated as “—” are $0 or have been rounded to $0
See accompanying notes to financial statements.
198
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 | ||||||||||||||||||||||
For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | |||||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 23,741 | $ | 93,123 | $ | 21,720 | $ | 31,213 | $ | 1,022 | $ | 2,181 | ||||||||||||
Net realized gains/(losses) from investments, futures, foreign currency transactions | 60,465 | 287,397 | 18,945 | 5,309 | 525 | 188 | ||||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments, futures, foreign currency transactions | (368,460 | ) | 207,531 | (236,074 | ) | 190,779 | (42 | ) | 2,262 | |||||||||||||||
Change in net assets resulting from operations | (284,254 | ) | 588,051 | (195,409 | ) | 227,301 | 1,505 | 4,631 | ||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (33,460 | ) | (93,524 | ) | (41,389 | ) | (25,766 | ) | (1,154 | ) | (2,486 | ) | ||||||||||||
HC Advisors Shares | (38 | ) | (115 | ) | (60 | ) | (39 | ) | (34 | ) | (68 | ) | ||||||||||||
Net realized gains/(losses) from investments, futures, foreign currency transactions: | ||||||||||||||||||||||||
HC Strategic Shares | (267,727 | ) | (100,495 | ) | (28,792 | ) | — | (91 | ) | (429 | ) | |||||||||||||
HC Advisors Shares | (343 | ) | (137 | ) | (44 | ) | — | (3 | ) | (12 | ) | |||||||||||||
Change in net assets resulting from distributions | (301,568 | ) | (194,271 | ) | (70,285 | ) | (25,805 | ) | (1,282 | ) | (2,995 | ) | ||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 365,407 | $ | 444,113 | $ | 263,238 | $ | 597,280 | $ | 19,780 | $ | 26,314 | ||||||||||||
Proceeds from reinvestment of dividends | 296,426 | 181,429 | 58,999 | 22,829 | 1,243 | 2,910 | ||||||||||||||||||
Cost of shares redeemed | (214,254 | ) | (448,774 | ) | (109,821 | ) | (87,035 | ) | (22,518 | ) | (24,112 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 447,579 | 176,768 | 212,416 | 533,074 | (1,495 | ) | 5,112 | |||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 420 | 305 | 125 | 1,037 | 220 | 459 | ||||||||||||||||||
Cost of shares redeemed | (37 | ) | (618 | ) | (81 | ) | (256 | ) | (96 | ) | (115 | ) | ||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | 383 | (313 | ) | 44 | 781 | 124 | 344 | |||||||||||||||||
Change in net assets from shares of beneficial interest | $ | 447,962 | $ | 176,455 | $ | 212,460 | $ | 533,855 | $ | (1,371 | ) | $ | 5,456 | |||||||||||
Change in net assets | (137,860 | ) | 570,235 | (53,234 | ) | 735,351 | (1,148 | ) | 7,092 | |||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 3,005,436 | 2,435,201 | 1,816,337 | 1,080,986 | 102,448 | 95,356 | ||||||||||||||||||
End of period | $ | 2,867,576 | $ | 3,005,436 | $ | 1,763,103 | $ | 1,816,337 | $ | 101,300 | $ | 102,448 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (3,457 | ) | $ | 6,300 | $ | (881 | ) | $ | 18,848 | $ | (120 | ) | $ | 46 | |||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 31,225 | 36,268 | 14,016 | 32,428 | 1,995 | 2,690 | ||||||||||||||||||
Reinvested | 28,439 | 15,097 | 3,385 | 1,229 | 126 | 299 | ||||||||||||||||||
Redeemed | (17,821 | ) | (36,469 | ) | (5,931 | ) | (4,681 | ) | (2,271 | ) | (2,463 | ) | ||||||||||||
Change in HC Strategic Shares | 41,843 | 14,896 | 11,470 | 28,976 | (150 | ) | 526 | |||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | 35 | 25 | 6 | 55 | 22 | 47 | ||||||||||||||||||
Redeemed | (3 | ) | (51 | ) | (4 | ) | (14 | ) | (9 | ) | (12 | ) | ||||||||||||
Change in HC Advisors Shares | 32 | (26 | ) | 2 | 41 | 13 | 35 | |||||||||||||||||
Total change in shares | 41,875 | 14,870 | 11,472 | 29,017 | (137 | ) | 561 |
Amounts designated as “—” are $0 or have been rounded to $0
See accompanying notes to financial statements.
199
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 Inflation Protected Securities Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | For the Six Months Ended December 31, 2014 | For the period April 3, 2014(a) through June 30, 2014 | |||||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 20,449 | $ | 49,105 | $ | 1,545 | $ | 3,176 | $ | 338 | $ | 5,407 | ||||||||||||
Net realized gains/(losses) from investments, futures, foreign currency transactions | 3,138 | 23,664 | 635 | (428 | ) | (134 | ) | 1,141 | ||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments, futures, foreign currency transactions | (46,606 | ) | 23,214 | 2,626 | 1,789 | (10,977 | ) | 9,688 | ||||||||||||||||
Change in net assets resulting from operations | (23,019 | ) | 95,983 | 4,806 | 4,537 | (10,773 | ) | 16,236 | ||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (22,764 | ) | (49,510 | ) | (1,602 | ) | (3,198 | ) | (2,375 | ) | (5,089 | ) | ||||||||||||
HC Advisors Shares | (31 | ) | (59 | ) | — | — | — | — | ||||||||||||||||
Net realized gains/(losses) from investments, futures, foreign currency transactions: | ||||||||||||||||||||||||
HC Strategic Shares | (18,509 | ) | (15,185 | ) | — | (786 | ) | (414 | ) | — | ||||||||||||||
HC Advisors Shares | (25 | ) | (18 | ) | — | — | — | — | ||||||||||||||||
Change in net assets resulting from distributions | (41,329 | ) | (64,772 | ) | (1,602 | ) | (3,984 | ) | (2,789 | ) | (5,089 | ) | ||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 289,597 | $ | 499,918 | $ | 120,330 | $ | 66,039 | $ | 21,799 | $ | 577,167 | ||||||||||||
Proceeds from reinvestment of dividends | 39,527 | 61,741 | 1,376 | 3,560 | 2,651 | 4,793 | ||||||||||||||||||
Cost of shares redeemed | (281,995 | ) | (540,906 | ) | (97,765 | ) | (88,628 | ) | (26,654 | ) | (66,648 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 47,129 | 20,753 | 23,941 | (19,029 | ) | (2,204 | ) | 515,312 | ||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 87 | 153 | — | — | — | — | ||||||||||||||||||
Cost of shares redeemed | (11 | ) | (51 | ) | — | — | — | — | ||||||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | 76 | 102 | — | — | — | — | ||||||||||||||||||
Change in net assets from shares of beneficial interest | $ | 47,205 | $ | 20,855 | $ | 23,941 | $ | (19,029 | ) | $ | (2,204 | ) | $ | 515,312 | ||||||||||
Change in net assets | (17,143 | ) | 52,066 | 27,145 | (18,476 | ) | (15,766 | ) | 526,459 | |||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 805,120 | 753,054 | 246,914 | 265,390 | 526,459 | — | ||||||||||||||||||
End of period | $ | 787,977 | $ | 805,120 | $ | 274,059 | $ | 246,914 | $ | 510,693 | $ | 526,459 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | 126 | $ | 2,472 | $ | (5 | ) | $ | 52 | $ | (1,695 | ) | $ | 342 | ||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 35,588 | 65,904 | 12,054 | 6,667 | 2,160 | 57,398 | ||||||||||||||||||
Reinvested | 5,525 | 8,242 | 138 | 361 | 260 | 468 | ||||||||||||||||||
Redeemed | (34,594 | ) | (70,673 | ) | (9,797 | ) | (8,962 | ) | (2,640 | ) | (6,508 | ) | ||||||||||||
Change in HC Strategic Shares | 6,519 | 3,473 | 2,395 | (1,934 | ) | (220 | ) | 51,358 | ||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | 12 | 21 | — | — | — | — | ||||||||||||||||||
Redeemed | (2 | ) | (7 | ) | — | — | — | — | ||||||||||||||||
Change in HC Advisors Shares | 10 | 14 | — | — | — | — | ||||||||||||||||||
Total change in shares | 6,529 | 3,487 | 2,395 | (1,934 | ) | (220 | ) | 51,358 |
(a) | Commencement of operations. |
Amounts designated as “—” are $0 or have been rounded to $0
See accompanying notes to financial statements.
200
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The U.S. Corporate Fixed Income Securities Portfolio | The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | The Short-Term Municipal Bond Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | |||||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 3,411 | $ | 7,108 | $ | 2,616 | $ | 5,320 | $ | 131 | $ | 260 | ||||||||||||
Net realized gains/(losses) from investments | 2,423 | 45 | 783 | 638 | 1 | 8 | ||||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments | (3,163 | ) | 9,909 | 983 | 4,143 | (125 | ) | 8 | ||||||||||||||||
Change in net assets resulting from operations | 2,671 | 17,062 | 4,382 | 10,101 | 7 | 276 | ||||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (3,558 | ) | (7,199 | ) | (3,581 | )�� | (7,654 | ) | (140 | ) | (261 | ) | ||||||||||||
Net realized gains/(losses) from investments: | ||||||||||||||||||||||||
HC Strategic Shares | (2,303 | ) | (3,582 | ) | — | — | (4 | ) | (44 | ) | ||||||||||||||
Change in net assets resulting from distributions | (5,861 | ) | (10,781 | ) | (3,581 | ) | (7,654 | ) | (144 | ) | (305 | ) | ||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 59,636 | $ | 79,521 | $ | 60,645 | $ | 51,694 | $ | 281 | $ | 2,017 | ||||||||||||
Proceeds from reinvestment of dividends | 5,431 | 9,991 | 2,984 | 6,485 | 144 | 301 | ||||||||||||||||||
Cost of shares redeemed | (71,203 | ) | (58,243 | ) | (40,307 | ) | (63,542 | ) | (803 | ) | (3,194 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (6,136 | ) | 31,269 | 23,322 | (5,363 | ) | (378 | ) | (876 | ) | ||||||||||||||
Change in net assets from shares of beneficial interest | $ | (6,136 | ) | $ | 31,269 | $ | 23,322 | $ | (5,363 | ) | $ | (378 | ) | $ | (876 | ) | ||||||||
Change in net assets | (9,326 | ) | 37,550 | 24,123 | (2,916 | ) | (515 | ) | (905 | ) | ||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 257,604 | 220,054 | 250,632 | 253,548 | 21,703 | 22,608 | ||||||||||||||||||
End of period | $ | 248,278 | $ | 257,604 | $ | 274,755 | $ | 250,632 | $ | 21,188 | $ | 21,703 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (16 | ) | $ | 131 | $ | (836 | ) | $ | 129 | $ | (18 | ) | $ | (9 | ) | ||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 5,824 | 7,881 | 6,128 | 5,267 | 28 | 201 | ||||||||||||||||||
Reinvested | 535 | 1,006 | 303 | 664 | 14 | 30 | ||||||||||||||||||
Redeemed | (6,953 | ) | (5,791 | ) | (4,068 | ) | (6,475 | ) | (80 | ) | (318 | ) | ||||||||||||
Change in HC Strategic Shares | (594 | ) | 3,096 | 2,363 | (544 | ) | (38 | ) | (87 | ) | ||||||||||||||
Total change in shares | (594 | ) | 3,096 | 2,363 | (544 | ) | (38 | ) | (87 | ) |
Amounts designated as “—” are $0 or have been rounded to $0
See accompanying notes to financial statements.
201
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Intermediate Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond II Portfolio | |||||||||||||||
For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | For the Six Months Ended December 31, 2014 | For the Year Ended June 30, 2014 | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
Operations: | ||||||||||||||||
Net investment income | $ | 4,277 | $ | 10,475 | $ | 689 | $ | 1,609 | ||||||||
Net realized gains/(losses) from investments | 2,465 | 611 | 377 | (57 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) from investments | (2,101 | ) | 5,645 | (150 | ) | 1,224 | ||||||||||
Change in net assets resulting from operations | 4,641 | 16,731 | 916 | 2,776 | ||||||||||||
Distributions to Shareholders from: | ||||||||||||||||
Net investment income: | ||||||||||||||||
HC Strategic Shares | (4,488 | ) | (10,544 | ) | (707 | ) | (1,605 | ) | ||||||||
HC Advisors Shares | (26 | ) | (55 | ) | (6 | ) | (12 | ) | ||||||||
Net realized gains/(losses) from investments: | ||||||||||||||||
HC Strategic Shares | — | — | (319 | ) | (225 | ) | ||||||||||
HC Advisors Shares | — | — | (3 | ) | (1 | ) | ||||||||||
Change in net assets resulting from distributions | (4,514 | ) | (10,599 | ) | (1,035 | ) | (1,843 | ) | ||||||||
HC Strategic Shares | ||||||||||||||||
Proceeds from shares issued | $ | 64,565 | $ | 83,412 | $ | 12,138 | $ | 19,161 | ||||||||
Proceeds from reinvestment of dividends | 4,330 | 10,168 | 996 | 1,785 | ||||||||||||
Cost of shares redeemed | (78,307 | ) | (96,267 | ) | (15,040 | ) | (17,642 | ) | ||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (9,412 | ) | (2,687 | ) | (1,906 | ) | 3,304 | |||||||||
HC Advisors Shares | ||||||||||||||||
Proceeds from shares issued | 41 | 655 | 13 | 263 | ||||||||||||
Cost of shares redeemed | (452 | ) | (39 | ) | (132 | ) | (9 | ) | ||||||||
Change in net assets from HC Advisors Shares of beneficial interest | (411 | ) | 616 | (119 | ) | 254 | ||||||||||
Change in net assets from shares of beneficial interest | $ | (9,823 | ) | $ | (2,071 | ) | $ | (2,025 | ) | $ | 3,558 | |||||
Change in net assets | (9,696 | ) | 4,061 | (2,144 | ) | 4,491 | ||||||||||
Net Assets: | ||||||||||||||||
Beginning of period | 425,747 | 421,686 | 78,426 | 73,935 | ||||||||||||
End of period | $ | 416,051 | $ | 425,747 | $ | 76,282 | $ | 78,426 | ||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (65 | ) | $ | 172 | $ | (25 | ) | $ | (1 | ) | |||||
Share Transactions: | ||||||||||||||||
HC Strategic Shares | ||||||||||||||||
Issued | 6,345 | 8,286 | 1,159 | 1,850 | ||||||||||||
Reinvested | 427 | 1,016 | 96 | 173 | ||||||||||||
Redeemed | (7,702 | ) | (9,573 | ) | (1,436 | ) | (1,701 | ) | ||||||||
Change in HC Strategic Shares | (930 | ) | (271 | ) | (183 | ) | 322 | |||||||||
HC Advisors Shares | ||||||||||||||||
Issued | 4 | 65 | 1 | 26 | ||||||||||||
Redeemed | (44 | ) | (4 | ) | (13 | ) | (1 | ) | ||||||||
Change in HC Advisors Shares | (40 | ) | 61 | (12 | ) | 25 | ||||||||||
Total change in shares | (970 | ) | (210 | ) | (195 | ) | 347 |
Amounts designated as “—” are $0 or have been rounded to $0
See accompanying notes to financial statements.
202
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) from Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Total Distributions to Shareholders | ||||||||||||||||||||||
The Value Equity Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 17.88 | $ | 0.17 | $ | 0.66 | $ | 0.83 | $ | (0.19 | ) | $ | — | $ | (0.19 | ) | ||||||||||||
Year Ended June 30, 2014 | 14.94 | 0.42 | 2.94 | 3.36 | (0.42 | ) | — | (0.42 | ) | |||||||||||||||||||
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 | ) | |||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 17.88 | $ | 0.17 | $ | 0.66 | $ | 0.83 | $ | (0.19 | ) | $ | — | $ | (0.19 | ) | ||||||||||||
Year Ended June 30, 2014 | 14.94 | 0.43 | 2.93 | 3.36 | (0.42 | ) | — | (0.42 | ) | |||||||||||||||||||
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(d) | 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, 2014 (Unaudited) | $ | 14.79 | $ | 0.14 | $ | 0.49 | $ | 0.63 | $ | (0.15 | ) | $ | (1.73 | ) | $ | (1.88 | ) | |||||||||||
Year Ended June 30, 2014 | 14.60 | 0.36 | (e) | 2.66 | (e) | 3.02 | (0.35 | ) | (2.48 | ) | (2.83 | ) | ||||||||||||||||
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 | ) | |||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 14.79 | $ | 0.14 | $ | 0.50 | $ | 0.64 | $ | (0.15 | ) | $ | (1.73 | ) | $ | (1.88 | ) | |||||||||||
Year Ended June 30, 2014 | 14.60 | 0.36 | (e) | 2.66 | (e) | 3.02 | (0.35 | ) | (2.48 | ) | (2.83 | ) | ||||||||||||||||
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(d) | 10.21 | 0.21 | 2.75 | 2.96 | (0.20 | ) | — | (0.20 | ) | |||||||||||||||||||
The Growth Equity Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 20.51 | $ | 0.10 | $ | 1.32 | $ | 1.42 | $ | (0.10 | ) | $ | (0.24 | ) | $ | (0.34 | ) | |||||||||||
Year Ended June 30, 2014 | 16.95 | 0.21 | 3.56 | 3.77 | (0.21 | ) | — | (0.21 | ) | |||||||||||||||||||
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 | ) | |||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 20.48 | $ | 0.10 | $ | 1.32 | $ | 1.42 | $ | (0.10 | ) | $ | (0.24 | ) | $ | (0.34 | ) | |||||||||||
Year Ended June 30, 2014 | 16.93 | 0.21 | 3.55 | 3.76 | (0.21 | ) | — | (0.21 | ) | |||||||||||||||||||
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(d) | 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, 2014 (Unaudited) | $ | 16.59 | $ | 0.08 | $ | 1.03 | $ | 1.11 | $ | (0.08 | ) | $ | (1.09 | ) | $ | (1.17 | ) | |||||||||||
Year Ended June 30, 2014 | 15.00 | 0.18 | 3.01 | 3.19 | (0.19 | ) | (1.41 | ) | (1.60 | ) | ||||||||||||||||||
Year Ended June 30, 2013 | 15.02 | 0.23 | 2.07 | 2.30 | (0.23 | ) | (2.09 | ) | (2.32 | ) | ||||||||||||||||||
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 | ) | |||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 16.59 | $ | 0.08 | $ | 1.02 | $ | 1.10 | $ | (0.08 | ) | $ | (1.09 | ) | $ | (1.17 | ) | |||||||||||
Year Ended June 30, 2014 | 15.00 | 0.19 | 3.00 | 3.19 | (0.19 | ) | (1.41 | ) | (1.60 | ) | ||||||||||||||||||
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(d) | 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) | For the period July 6, 2010 (commencement of operations) through June 30, 2011. |
(e) | Per share amounts are based on average shares outstanding. |
(f) | Portfolio Turnover does not include TBA security transactions. |
See accompanying notes to financial statements.
203
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, 2014 (Unaudited) | $ | 18.52 | 4.64 | % | $ | 650,054 | 0.30 | % | 0.30 | % | 0.30 | % | 1.90 | % | 8.18 | % | ||||||||||||||||
Year Ended June 30, 2014 | 17.88 | 22.69 | % | 628,645 | 0.32 | % | 0.31 | % | 0.31 | % | 2.44 | % | 53.96 | % | ||||||||||||||||||
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 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 18.52 | 4.64 | % | $ | 1,209 | 0.55 | % | 0.30 | % | 0.30 | % | 1.90 | % | 8.18 | % | ||||||||||||||||
Year Ended June 30, 2014 | 17.88 | 22.69 | % | 1,217 | 0.57 | % | 0.31 | % | 0.31 | % | 2.43 | % | 53.96 | % | ||||||||||||||||||
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(d) | 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, 2014 (Unaudited) | $ | 13.54 | 4.51 | % | $ | 1,041,038 | 0.29 | % | 0.29 | % | 0.29 | % | 1.92 | % | 64.19 | % | ||||||||||||||||
Year Ended June 30, 2014 | 14.79 | 22.82 | % | 1,036,650 | 0.32 | % | 0.31 | % | 0.31 | % | 2.45 | % | 63.68 | % | ||||||||||||||||||
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 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 13.55 | 4.58 | % | $ | 1,322 | 0.54 | % | 0.29 | % | 0.29 | % | 1.93 | % | 64.19 | % | ||||||||||||||||
Year Ended June 30, 2014 | 14.79 | 22.82 | % | 1,434 | 0.57 | % | 0.31 | % | 0.31 | % | 2.45 | % | 63.68 | % | ||||||||||||||||||
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(d) | 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, 2014 (Unaudited) | $ | 21.59 | 6.98 | % | $ | 884,460 | 0.30 | % | 0.30 | % | 0.30 | % | 0.91 | % | 18.99 | % | ||||||||||||||||
Year Ended June 30, 2014 | 20.51 | 22.33 | % | 839,813 | 0.28 | % | 0.28 | % | 0.28 | % | 1.09 | % | 30.28 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 16.95 | 15.62 | % | 736,260 | 0.27 | % | 0.27 | % | 0.27 | % | 1.47 | % | 23.77 | % | ||||||||||||||||||
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 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 21.56 | 6.99 | % | $ | 1,663 | 0.55 | % | 0.30 | % | 0.30 | % | 0.91 | % | 18.99 | % | ||||||||||||||||
Year Ended June 30, 2014 | 20.48 | 22.29 | % | 1,690 | 0.53 | % | 0.28 | % | 0.28 | % | 1.09 | % | 30.28 | % | ||||||||||||||||||
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(d) | 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, 2014 (Unaudited) | $ | 16.53 | 6.77 | % | $ | 1,460,986 | 0.28 | % | 0.28 | % | 0.28 | % | 0.99 | % | 44.36 | % | ||||||||||||||||
Year Ended June 30, 2014 | 16.59 | 22.19 | % | 1,442,721 | 0.26 | % | 0.26 | % | 0.26 | % | 1.15 | % | 48.43 | % | ||||||||||||||||||
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 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 16.52 | 6.70 | % | $ | 1,898 | 0.53 | % | 0.28 | % | 0.28 | % | 0.99 | % | 44.36 | % | ||||||||||||||||
Year Ended June 30, 2014 | 16.59 | 22.19 | % | 1,935 | 0.51 | % | 0.26 | % | 0.26 | % | 1.16 | % | 48.43 | % | ||||||||||||||||||
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(d) | 14.10 | 34.16 | % | 1,555 | 0.64 | % | 0.38 | % | 0.37 | % | 0.92 | % | 85.12 | %(f) |
See accompanying notes to financial statements.
204
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) from Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Tax Return of Capital | Total Distributions to Shareholders | |||||||||||||||||||||||||
The Small Capitalization–Mid Capitalization Equity Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 21.22 | $ | 0.01 | $ | 0.62 | $ | 0.63 | $ | (0.01 | ) | $ | — | $ | — | $ | (0.01 | ) | ||||||||||||||
Year Ended June 30, 2014 | 17.12 | 0.06 | 4.11 | 4.17 | (0.07 | ) | — | — | (0.07 | ) | ||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||
HC Advisors Shares | — | |||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 21.20 | $ | 0.01 | $ | 0.62 | $ | 0.63 | $ | (0.01 | ) | $ | — | — | $ | (0.01 | ) | |||||||||||||||
Year Ended June 30, 2014 | 17.10 | 0.06 | 4.11 | 4.17 | (0.07 | ) | — | — | (0.07 | ) | ||||||||||||||||||||||
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(d) | 10.13 | 0.05 | 3.91 | 3.96 | (0.06 | ) | — | — | (0.06 | ) | ||||||||||||||||||||||
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 17.19 | $ | 0.01 | $ | 0.46 | $ | 0.47 | $ | (0.01 | ) | $ | (1.72 | ) | $ | — | $ | (1.73 | ) | |||||||||||||
Year Ended June 30, 2014 | 17.09 | 0.03 | 3.28 | 3.31 | (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 | ) | ||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 17.19 | $ | 0.01 | $ | 0.46 | $ | 0.47 | $ | (0.01 | ) | $ | (1.72 | ) | $ | — | $ | (1.73 | ) | |||||||||||||
Year Ended June 30, 2014 | 17.09 | 0.03 | 3.28 | 3.31 | (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(d) | 10.05 | 0.05 | 3.86 | 3.91 | (0.06 | ) | — | — | (0.06 | ) | ||||||||||||||||||||||
The Real Estate Securities Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 3.20 | $ | 0.03 | $ | 0.33 | $ | 0.36 | $ | (0.04 | ) | $ | (0.16 | ) | $ | — | $ | (0.20 | ) | |||||||||||||
Period Ended June 30, 2014(e) | 2.76 | 0.05 | 0.41 | 0.46 | (0.02 | ) | — | (j) | — | (0.02 | ) | |||||||||||||||||||||
Period Ended June 30, 2013(f) | 11.16 | 0.09 | 0.94 | 1.03 | (0.11 | ) | (6.65 | ) | — | (j) | (6.76 | ) | ||||||||||||||||||||
Year Ended June 30, 2012 | 17.60 | 0.13 | 0.63 | 0.76 | (0.20 | ) | (7.00 | ) | — | (7.20 | ) | |||||||||||||||||||||
Year Ended June 30, 2011 | 13.53 | 0.20 | 4.71 | 4.91 | (0.33 | ) | (0.51 | ) | — | (0.84 | ) | |||||||||||||||||||||
Year Ended June 30, 2010 | 10.08 | 0.21 | 3.53 | 3.74 | (0.27 | ) | (0.02 | ) | — | (0.29 | ) | |||||||||||||||||||||
The Commodity Returns Strategy Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited)(g) | $ | 11.64 | $ | 0.04 | $ | (2.58 | ) | $ | (2.54 | ) | $ | (0.06 | ) | $ | (0.03 | ) | $ | — | $ | (0.09 | ) | |||||||||||
Year Ended June 30, 2014(g) | 9.82 | 0.09 | 1.83 | 1.92 | (0.10 | ) | — | — | (0.10 | ) | ||||||||||||||||||||||
Year Ended June 30, 2013(g) | 10.01 | 0.12 | (0.20 | ) | (0.08 | ) | (0.11 | ) | — | — | (0.11 | ) | ||||||||||||||||||||
Year Ended June 30, 2012(g) | 12.62 | 0.07 | (2.46 | ) | (2.39 | ) | (0.06 | ) | (0.16 | ) | — | (0.22 | ) | |||||||||||||||||||
Year Ended June 30, 2011(g) | 9.57 | 0.04 | 3.19 | 3.23 | (0.04 | ) | (0.14 | ) | — | (0.18 | ) | |||||||||||||||||||||
Period Ended June 30, 2010(g)(h) | 10.00 | — | (j) | (0.43 | ) | (0.43 | ) | — | — | — | — | |||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited)(g) | $ | 11.63 | $ | 0.03 | $ | (2.56 | ) | $ | (2.53 | ) | $ | (0.06 | ) | $ | (0.03 | ) | $ | — | $ | (0.09 | ) | |||||||||||
Year Ended June 30, 2014(g) | 9.81 | 0.08 | 1.84 | 1.92 | (0.10 | ) | — | — | (0.10 | ) | ||||||||||||||||||||||
Year Ended June 30, 2013(g) | 10.01 | 0.12 | (0.21 | ) | (0.09 | ) | (0.11 | ) | — | — | (0.11 | ) | ||||||||||||||||||||
Year Ended June 30, 2012(g) | 12.62 | 0.08 | (2.47 | ) | (2.39 | ) | (0.06 | ) | (0.16 | ) | — | (0.22 | ) | |||||||||||||||||||
Period Ended June 30, 2011(d)(g) | 9.71 | 0.05 | 3.04 | 3.09 | (0.04 | ) | (0.14 | ) | — | (0.18 | ) | |||||||||||||||||||||
The International Equity Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 13.56 | $ | 0.10 | $ | (1.34 | ) | $ | (1.24 | ) | $ | (0.12 | ) | $ | (1.38 | ) | $ | — | $ | (1.50 | ) | |||||||||||
Year Ended June 30, 2014 | 11.35 | 0.43 | 2.25 | 2.68 | (0.43 | ) | (0.04 | ) | — | (0.47 | ) | |||||||||||||||||||||
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 | ) | ||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 13.56 | $ | 0.09 | $ | (1.33 | ) | $ | (1.24 | ) | $ | (0.12 | ) | $ | (1.38 | ) | $ | — | $ | (1.50 | ) | |||||||||||
Year Ended June 30, 2014 | 11.36 | 0.43 | 2.24 | 2.67 | (0.43 | ) | (0.04 | ) | — | (0.47 | ) | |||||||||||||||||||||
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 | 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) | For the period July 6, 2010 (commencement of operations) through June 30, 2011. |
(e) | For the period September 12, 2013 (commencement of operations) through June 30, 2014. |
(f) | Represents the last traded net asset value per share on June 30, 2013 As of the close of business on June 30, 2013, the Real Estate Securities Portfolio had no net assets and no shareholders and was closed to new investors. |
(g) | Statement has been consolidated. Please see Note 2O in the Notes to Financial Statements for basis of consolidation. |
(h) | For the period June 8, 2010 (commencement of operations) through June 30, 2010. |
(i) | Amount rounds to less than $0.005 per share. |
See accompanying notes to financial statements.
205
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–Mid Capitalization Equity Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 21.84 | 2.95 | % | $ | 114,117 | 0.80 | % | 0.79 | % | 0.79 | % | 0.02 | % | 18.21 | % | ||||||||||||||||
Year Ended June 30, 2014 | 21.22 | 24.38 | % | 113,698 | 0.61 | % | 0.60 | % | 0.60 | % | 0.32 | % | 41.18 | % | ||||||||||||||||||
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 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 21.82 | 2.95 | % | $ | 208 | 1.05 | % | 0.79 | % | 0.79 | % | 0.02 | % | 18.21 | % | ||||||||||||||||
Year Ended June 30, 2014 | 21.20 | 24.41 | % | 207 | 0.86 | % | 0.60 | % | 0.60 | % | 0.32 | % | 41.18 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 17.10 | 26.38 | % | 191 | 0.75 | % | 0.56 | % | 0.56 | % | 1.02 | % | 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(d) | 14.03 | 39.12 | % | 157 | 0.95 | % | 0.70 | % | 0.70 | % | 0.37 | % | 51.76 | % | ||||||||||||||||||
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 15.93 | 3.01 | % | $ | 195,580 | 0.80 | % | 0.79 | % | 0.79 | % | 0.11 | % | 54.20 | % | ||||||||||||||||
Year Ended June 30, 2014 | 17.19 | 20.85 | % | 182,460 | 0.70 | % | 0.70 | % | 0.70 | % | 0.21 | % | 67.75 | % | ||||||||||||||||||
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 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 15.93 | 3.01 | % | $ | 227 | 1.05 | % | 0.79 | % | 0.79 | % | 0.10 | % | 54.20 | % | ||||||||||||||||
Year Ended June 30, 2014 | 17.19 | 20.85 | % | 239 | 0.95 | % | 0.70 | % | 0.70 | % | 0.22 | % | 67.75 | % | ||||||||||||||||||
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(d) | 13.90 | 38.97 | % | 228 | 0.96 | % | 0.71 | % | 0.71 | % | 0.44 | % | 100.93 | % | ||||||||||||||||||
The Real Estate Securities Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 3.36 | 11.34 | % | $ | 158,277 | 0.77 | % | 0.77 | % | 0.77 | % | 1.52 | % | 31.88 | % | ||||||||||||||||
Period Ended June 30, 2014(e) | 3.20 | 17.00 | % | 171,583 | 0.79 | % | 0.78 | % | 0.78 | % | 1.94 | % | 52.49 | % | ||||||||||||||||||
Period Ended June 30, 2013(f) | 5.43 | 13.28 | % | — | 0.88 | % | 0.88 | % | 0.88 | % | 0.98 | % | 53.50 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 11.16 | 12.29 | % | 77,739 | 0.82 | % | 0.82 | % | 0.82 | % | 1.00 | % | 70.31 | % | ||||||||||||||||||
Year Ended June 30, 2011 | 17.60 | 37.15 | % | 147,326 | 0.80 | % | 0.80 | % | 0.80 | % | 2.15 | % | 79.82 | % | ||||||||||||||||||
Year Ended June 30, 2010 | 13.53 | 37.08 | % | 207,039 | 0.82 | % | 0.82 | % | 0.82 | % | 1.91 | % | 45.39 | % | ||||||||||||||||||
The Commodity Returns Strategy Portfolio | ||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited)(g) | $ | 9.01 | (21.79 | )% | $ | 900,406 | 0.67 | % | 0.67 | % | 0.67 | % | 0.66 | % | 164.73 | % | ||||||||||||||||
Year Ended June 30, 2014(g) | 11.64 | 19.64 | % | 1,174,593 | 0.66 | % | 0.66 | % | 0.66 | % | 0.87 | % | 61.70 | % | ||||||||||||||||||
Year Ended June 30, 2013(g) | 9.82 | (0.85 | )% | 906,350 | 0.64 | % | 0.64 | % | 0.64 | % | 1.18 | % | 34.75 | % | ||||||||||||||||||
Year Ended June 30, 2012(g) | 10.01 | (18.95 | )% | 686,912 | 0.73 | % | 0.73 | % | 0.73 | % | 0.83 | % | 83.66 | % | ||||||||||||||||||
Year Ended June 30, 2011(g) | 12.62 | 33.86 | % | 500,846 | 1.03 | % | 1.03 | % | 1.03 | % | 0.40 | % | 79.60 | % | ||||||||||||||||||
Period Ended June 30, 2010(g)(h) | 9.57 | (4.30 | )% | 120,841 | 1.06 | % | 1.06 | % | 1.06 | % | (0.40 | )% | 3.26 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited)(g) | $ | 9.01 | (21.72 | )% | $ | 1,391 | 0.92 | % | 0.67 | % | 0.67 | % | 0.65 | % | 164.73 | % | ||||||||||||||||
Year Ended June 30, 2014(g) | 11.63 | 19.66 | % | 1,621 | 0.91 | % | 0.66 | % | 0.66 | % | 0.81 | % | 61.70 | % | ||||||||||||||||||
Year Ended June 30, 2013(g) | 9.81 | (0.95 | )% | 1,151 | 0.82 | % | 0.64 | % | 0.64 | % | 1.20 | % | 34.75 | % | ||||||||||||||||||
Year Ended June 30, 2012(g) | 10.01 | (18.95 | )% | 902 | 0.73 | % | 0.73 | % | 0.73 | % | 0.84 | % | 84.66 | % | ||||||||||||||||||
Period Ended June 30, 2011(d)(g) | 12.62 | 31.93 | % | 609 | 1.28 | % | 1.03 | % | 1.03 | % | 0.44 | % | 79.60 | % | ||||||||||||||||||
The International Equity Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.82 | (9.29 | )% | $ | 1,309,387 | 0.40 | % | 0.40 | % | 0.40 | % | 1.51 | % | 22.86 | % | ||||||||||||||||
Year Ended June 30, 2014 | 13.56 | 23.72 | % | 1,613,553 | 0.42 | % | 0.42 | % | 0.42 | % | 3.26 | % | 55.23 | % | ||||||||||||||||||
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 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.82 | (9.29 | )% | $ | 2,635 | 0.65 | % | 0.40 | % | 0.40 | % | 1.50 | % | 22.86 | % | ||||||||||||||||
Year Ended June 30, 2014 | 13.56 | 23.61 | % | 3,136 | 0.67 | % | 0.42 | % | 0.42 | % | 3.24 | % | 55.23 | % | ||||||||||||||||||
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 | 10.99 | 28.93 | % | 1,466 | 0.82 | % | 0.57 | % | 0.57 | % | 3.05 | % | 49.11 | % |
See accompanying notes to financial statements.
206
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) from 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 | ||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 12.58 | $ | 0.08 | $ | (1.25 | ) | $ | (1.17 | ) | $ | (0.12 | ) | $ | (1.08 | ) | $ | — | $ | (1.20 | ) | |||||||||||||||
Year Ended June 30, 2014 | 10.87 | 0.40 | 2.17 | 2.57 | (0.40 | ) | (0.46 | ) | — | (0.86 | ) | |||||||||||||||||||||||||
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(d) | 9.64 | 0.14 | (1.14 | ) | (1.00 | ) | (0.13 | ) | — | — | (0.13 | ) | ||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 12.57 | $ | 0.09 | $ | (1.25 | ) | $ | (1.16 | ) | $ | (0.12 | ) | $ | (1.08 | ) | $ | — | $ | (1.20 | ) | |||||||||||||||
Year Ended June 30, 2014 | 10.87 | 0.41 | 2.15 | 2.56 | (0.40 | ) | (0.46 | ) | — | (0.86 | ) | |||||||||||||||||||||||||
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(e) | 8.73 | 0.24 | 2.27 | 2.51 | (0.28 | ) | — | — | (0.28 | ) | ||||||||||||||||||||||||||
The Emerging Markets Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 20.01 | $ | 0.23 | (f) | $ | (2.28 | ) | $ | (2.05 | ) | $ | (0.41 | ) | $ | (0.30 | ) | $ | — | $ | (0.71 | ) | ||||||||||||||
Year Ended June 30, 2014 | 17.51 | 0.35 | 2.51 | 2.86 | (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 | ) | — | — | — | — | ||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 20.00 | $ | 0.23 | (f) | $ | (2.28 | ) | $ | (2.05 | ) | $ | (0.41 | ) | $ | (0.30 | ) | $ | — | $ | (0.71 | ) | ||||||||||||||
Year Ended June 30, 2014 | 17.51 | 0.35 | 2.50 | 2.85 | (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(e) | 18.17 | 0.25 | 4.36 | 4.61 | (0.15 | ) | (0.21 | ) | — | (0.36 | ) | |||||||||||||||||||||||||
The Core Fixed Income Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 9.89 | $ | 0.10 | $ | 0.04 | $ | 0.14 | $ | (0.11 | ) | $ | (0.01 | ) | $ | — | $ | (0.12 | ) | |||||||||||||||||
Year Ended June 30, 2014 | 9.73 | 0.22 | 0.24 | 0.46 | (0.25 | ) | (0.05 | ) | — | (0.30 | ) | |||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 9.88 | $ | 0.10 | $ | 0.04 | $ | 0.14 | $ | (0.11 | ) | $ | (0.01 | ) | $ | — | $ | (0.12 | ) | |||||||||||||||||
Year Ended June 30, 2014 | 9.73 | 0.21 | 0.24 | 0.45 | (0.25 | ) | (0.05 | ) | — | (0.30 | ) | |||||||||||||||||||||||||
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(e) | 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, 2014 (Unaudited) | $ | 7.65 | $ | 0.19 | $ | (0.41 | ) | $ | (0.22 | ) | $ | (0.21 | ) | $ | (0.17 | ) | $ | — | $ | (0.38 | ) | |||||||||||||||
Year Ended June 30, 2014 | 7.41 | 0.43 | 0.37 | 0.80 | (0.43 | ) | (0.13 | ) | — | (0.56 | ) | |||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 7.65 | $ | 0.19 | $ | (0.41 | ) | $ | (0.22 | ) | $ | (0.21 | ) | $ | (0.17 | ) | $ | — | $ | (0.38 | ) | |||||||||||||||
Year Ended June 30, 2014 | 7.40 | 0.41 | 0.40 | 0.81 | (0.43 | ) | (0.13 | ) | — | (0.56 | ) | |||||||||||||||||||||||||
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(e) | 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) | For the period July 6, 2010 (commencement of operations) through June 30, 2011. |
(e) | For the period November 20, 2009 (commencement of operations) through June 30, 2010. |
(f) | Per share amounts are based on average shares outstanding. |
(g) | For the period December 10, 2009 (commencement of operations) through June 30, 2010. |
See accompanying notes to financial statements.
207
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 | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.21 | (9.38 | )% | $ | 2,864,335 | 0.36 | % | 0.36 | % | 0.36 | % | 1.63 | % | 19.73 | % | ||||||||||||||||
Year Ended June 30, 2014 | 12.58 | 24.16 | % | 3,001,838 | 0.40 | % | 0.40 | % | 0.40 | % | 3.35 | % | 64.38 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 10.87 | 19.86 | % | 2,431,816 | 0.42 | % | 0.42 | % | 0.42 | % | 2.93 | % | 47.98 | % | ||||||||||||||||||
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(d) | 8.51 | (10.46 | )% | 1,417,353 | 0.60 | % | 0.59 | % | 0.60 | % | 2.48 | % | 24.84 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.21 | (9.30 | )% | $ | 3,241 | 0.61 | % | 0.36 | % | 0.36 | % | 1.63 | % | 19.73 | % | ||||||||||||||||
Year Ended June 30, 2014 | 12.57 | 24.07 | % | 3,598 | 0.65 | % | 0.40 | % | 0.40 | % | 3.27 | % | 64.38 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 10.87 | 19.99 | % | 3,385 | 0.63 | % | 0.42 | % | 0.42 | % | 2.89 | % | 47.98 | % | ||||||||||||||||||
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(e) | 10.96 | 28.79 | % | 2,399 | 0.83 | % | 0.58 | % | 0.58 | % | 2.53 | % | 54.67 | % | ||||||||||||||||||
The Emerging Markets Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 17.25 | (10.20 | )% | $ | 1,760,599 | 0.58 | % | 0.58 | % | 0.58 | % | 2.35 | % | 35.59 | % | ||||||||||||||||
Year Ended June 30, 2014 | 20.01 | 16.48 | % | 1,813,476 | 0.73 | % | 0.73 | % | 0.73 | % | 2.26 | % | 75.84 | % | ||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 17.24 | (10.21 | )% | $ | 2,504 | 0.83 | % | 0.58 | % | 0.58 | % | 2.35 | % | 35.59 | % | ||||||||||||||||
Year Ended June 30, 2014 | 20.00 | 16.42 | % | 2,861 | 0.98 | % | 0.73 | % | 0.73 | % | 2.25 | % | 75.84 | % | ||||||||||||||||||
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(e) | 22.42 | 25.44 | % | 966 | 1.25 | % | 1.00 | % | 1.00 | % | 1.28 | % | 61.56 | % | ||||||||||||||||||
The Core Fixed Income Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 9.91 | 1.47 | % | $ | 98,439 | 0.25 | % | 0.25 | % | 0.25 | % | 1.98 | % | 26.34 | % | ||||||||||||||||
Year Ended June 30, 2014 | 9.89 | 4.78 | % | 99,718 | 0.25 | % | 0.25 | % | 0.25 | % | 2.22 | % | 75.17 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 9.73 | (1.02 | )% | 93,015 | 0.27 | % | 0.26 | % | 0.26 | % | 2.09 | % | 53.26 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 10.27 | 7.75 | % | 94,895 | 0.30 | % | 0.30 | % | 0.30 | % | 2.34 | % | 64.20 | % | ||||||||||||||||||
Year Ended June 30, 2011 | 10.14 | 3.36 | % | 103,528 | 0.33 | % | 0.33 | % | 0.33 | % | 2.30 | % | 684.04 | % | ||||||||||||||||||
Year Ended June 30, 2010 | 10.25 | 10.78 | % | 356,056 | 0.34 | % | 0.34 | % | 0.34 | % | 3.23 | % | 511.41 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 9.90 | 1.47 | % | $ | 2,861 | 0.50 | % | 0.25 | % | 0.25 | % | 1.98 | % | 26.34 | % | ||||||||||||||||
Year Ended June 30, 2014 | 9.88 | 4.68 | % | 2,730 | 0.50 | % | 0.25 | % | 0.25 | % | 2.22 | % | 75.17 | % | ||||||||||||||||||
Year Ended June 30, 2013 | 9.73 | (0.92 | )% | 2,341 | 0.45 | % | 0.26 | % | 0.26 | % | 2.08 | % | 53.26 | % | ||||||||||||||||||
Year Ended June 30, 2012 | 10.26 | 7.76 | % | 2,232 | 0.30 | % | 0.30 | % | 0.30 | % | 2.36 | % | 64.20 | % | ||||||||||||||||||
Period Ended June 30, 2011(e) | 10.13 | 3.05 | % | 2,659 | 0.58 | % | 0.33 | % | 0.33 | % | 2.26 | % | 684.04 | % | ||||||||||||||||||
The Fixed Income Opportunity Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 7.05 | (2.82 | )% | $ | 786,939 | 0.34 | % | 0.34 | % | 0.34 | % | 5.09 | % | 20.12 | % | ||||||||||||||||
Year Ended June 30, 2014 | 7.65 | 11.23 | % | 804,070 | 0.30 | % | 0.30 | % | 0.30 | % | 5.52 | % | 82.94 | % | ||||||||||||||||||
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 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 7.05 | (2.82 | )% | $ | 1,038 | 0.59 | % | 0.34 | % | 0.34 | % | 5.08 | % | 20.12 | % | ||||||||||||||||
Year Ended June 30, 2014 | 7.65 | 11.39 | % | 1,050 | 0.55 | % | 0.30 | % | 0.30 | % | 5.52 | % | 82.94 | % | ||||||||||||||||||
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(e) | 7.39 | 18.61 | % | 824 | 0.79 | % | 0.54 | % | 0.54 | % | 7.80 | % | 157.18 | % |
See accompanying notes to financial statements.
208
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, 2014 (Unaudited) | $ | 9.94 | $ | 0.06 | $ | 0.13 | $ | 0.19 | $ | (0.06 | ) | $ | — | $ | (0.06 | ) | ||||||||||||||||
Year Ended June 30, 2014 | 9.91 | 0.12 | 0.07 | 0.19 | (0.13 | ) | (0.03 | ) | (0.16 | ) | ||||||||||||||||||||||
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(d) | 10.00 | 0.07 | 0.01 | 0.08 | (0.07 | ) | — | (0.07 | ) | |||||||||||||||||||||||
The Inflation Protected Securities Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.25 | $ | 0.01 | $ | (0.21 | ) | $ | (0.20 | ) | $ | (0.05 | ) | $ | (0.01 | ) | $ | (0.06 | ) | |||||||||||||
Period Ended June 30, 2014(h) | 10.00 | 0.11 | 0.24 | 0.35 | (0.10 | ) | — | (0.10 | ) | |||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.26 | $ | — | (i) | $ | (0.21 | ) | $ | (0.21 | ) | $ | (0.05 | ) | $ | (0.01 | ) | $ | (0.06 | ) | ||||||||||||
Period Ended June 30, 2014(h) | 10.00 | 0.12 | 0.24 | 0.36 | (0.10 | ) | — | (0.10 | ) | |||||||||||||||||||||||
The U.S. Corporate Fixed Income Securities Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.24 | $ | 0.14 | $ | (0.04 | ) | $ | 0.10 | $ | (0.14 | ) | $ | (0.10 | ) | $ | (0.24 | ) | ||||||||||||||
Year Ended June 30, 2014 | 9.97 | 0.31 | 0.44 | 0.75 | (0.32 | ) | (0.16 | ) | (0.48 | ) | ||||||||||||||||||||||
Year Ended June 30, 2013 | 10.59 | 0.35 | (0.35 | ) | — | (i) | (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(d) | 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, 2014 (Unaudited) | $ | 9.87 | $ | 0.10 | $ | 0.06 | $ | 0.16 | $ | (0.13 | ) | $ | — | $ | (0.13 | ) | ||||||||||||||||
Year Ended June 30, 2014 | 9.78 | 0.21 | 0.18 | 0.39 | (0.30 | ) | — | (0.30 | ) | |||||||||||||||||||||||
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(d) | 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, 2014 (Unaudited) | $ | 10.04 | $ | 0.06 | $ | (0.06 | ) | $ | — | (i) | $ | (0.07 | ) | $ | — | $ | (0.07 | ) | ||||||||||||||
Year Ended June 30, 2014 | 10.05 | 0.12 | 0.01 | 0.13 | (0.12 | ) | (0.02 | ) | (0.14 | ) | ||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||
The Intermediate Term Municipal Bond Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.11 | $ | 0.10 | $ | 0.01 | $ | 0.11 | $ | (0.11 | ) | $ | — | $ | (0.11 | ) | ||||||||||||||||
Year Ended June 30, 2014 | 9.96 | 0.25 | 0.15 | 0.40 | (0.25 | ) | — | (0.25 | ) | |||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.11 | $ | 0.10 | $ | 0.01 | $ | 0.11 | $ | (0.11 | ) | $ | — | $ | (0.11 | ) | ||||||||||||||||
Year Ended June 30, 2014 | 9.96 | 0.25 | 0.15 | 0.40 | (0.25 | ) | — | (0.25 | ) | |||||||||||||||||||||||
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(f) | 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, 2014 (Unaudited) | $ | 10.41 | $ | 0.09 | $ | 0.03 | $ | 0.12 | $ | (0.10 | ) | $ | (0.04 | ) | $ | (0.14 | ) | |||||||||||||||
Year Ended June 30, 2014 | 10.28 | 0.22 | 0.16 | 0.38 | (0.22 | ) | (0.03 | ) | (0.25 | ) | ||||||||||||||||||||||
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(g) | 10.00 | 0.17 | 0.10 | 0.27 | (0.17 | ) | — | (0.17 | ) | |||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.41 | $ | 0.09 | $ | 0.03 | $ | 0.12 | $ | (0.10 | ) | $ | (0.04 | ) | $ | (0.14 | ) | |||||||||||||||
Year Ended June 30, 2014 | 10.29 | 0.22 | 0.15 | 0.37 | (0.22 | ) | (0.03 | ) | (0.25 | ) | ||||||||||||||||||||||
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(g) | 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) | For the period December 6, 2010 (commencement of operations) through June 30, 2011. |
(e) | Portfolio Turnover does not include TBA security transactions. |
(f) | For the period July 6, 2010 (commencement of operations) through June 2011. |
(g) | For the period July 13, 2010 (commencement of operations) through June 30. 2011. |
(h) | For the period April 3, 2014 (commencement of operations) through June 30, 2014 . |
(i) | Amount rounds to less than $0.005 per share. |
See accompanying notes to financial statements.
209
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, 2014 (Unaudited) | $ | 10.07 | 1.93 | % | $ | 274,059 | 0.16 | % | 0.16 | % | 0.16 | % | 1.18 | % | 56.47 | % | ||||||||||||||||
Year Ended June 30, 2014 | 9.94 | 1.91 | % | 246,914 | 0.18 | % | 0.18 | % | 0.18 | % | 1.29 | % | 62.52 | % | ||||||||||||||||||
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(d) | 10.01 | 0.85 | % | 291,810 | 0.26 | % | 0.26 | % | 0.26 | % | 1.43 | % | 73.52 | % | ||||||||||||||||||
The Inflation Protected Securities Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 9.99 | (2.01 | )% | $ | 510,692 | 0.18 | % | 0.18 | % | 0.18 | % | 0.13 | % | 13.27 | % | ||||||||||||||||
Period Ended June 30, 2014(h) | 10.25 | 3.50 | % | 526,458 | 0.15 | % | 0.15 | % | 0.15 | % | 4.55 | % | 18.56 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 9.99 | (2.11 | )% | $ | 1 | 0.43 | % | 0.18 | % | 0.18 | % | 0.13 | % | 13.27 | % | ||||||||||||||||
Period Ended June 30, 2014(h) | 10.26 | 3.60 | % | 1 | 0.40 | % | 0.15 | % | 0.15 | % | 4.58 | % | 18.56 | % | ||||||||||||||||||
The U.S. Corporate Fixed Income Securities Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.10 | 0.97 | % | $ | 248,278 | 0.32 | % | 0.32 | % | 0.32 | % | 2.67 | % | 37.23 | % | ||||||||||||||||
Year Ended June 30, 2014 | 10.24 | 7.76 | % | 257,604 | 0.33 | % | 0.33 | % | 0.33 | % | 3.16 | % | 130.81 | % | ||||||||||||||||||
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(d) | 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, 2014 (Unaudited) | $ | 9.90 | 1.68 | % | $ | 274,755 | 0.17 | % | 0.17 | % | 0.17 | % | 1.98 | % | 10.92%(e) | |||||||||||||||||
Year Ended June 30, 2014 | 9.87 | 4.04 | % | 250,632 | 0.17 | % | 0.17 | % | 0.17 | % | 2.12 | % | 26.46%(e) | |||||||||||||||||||
Year Ended June 30, 2013 | 9.78 | (1.05 | )% | 253,548 | 0.23 | % | 0.23 | % | 0.23 | % | 1.84 | % | 34.20%(e) | |||||||||||||||||||
Year Ended June 30, 2012 | 10.22 | 4.95 | % | 237,857 | 0.30 | % | 0.30 | % | 0.30 | % | 2.49 | % | 28.67%(e) | |||||||||||||||||||
Period Ended June 30, 2011(d) | 10.13 | 2.33 | % | 278,160 | 0.31 | % | 0.31 | % | 0.31 | % | 1.60 | % | 10.64%(e) | |||||||||||||||||||
The Short-Term Municipal Bond Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 9.97 | (0.03 | )% | $ | 21,188 | 0.29 | % | 0.29 | % | 0.29 | % | 1.20 | % | 14.17 | % | ||||||||||||||||
Year Ended June 30, 2014 | 10.04 | 1.26 | % | 21,703 | 0.29 | % | 0.29 | % | 0.29 | % | 1.16 | % | 25.15 | % | ||||||||||||||||||
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 | % | ||||||||||||||||||
The Intermediate Term Municipal Bond Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.11 | 1.08 | % | $ | 413,969 | 0.26 | % | 0.26 | % | 0.26 | % | 2.02 | % | 16.50 | % | ||||||||||||||||
Year Ended June 30, 2014 | 10.11 | 4.10 | % | 423,257 | 0.29 | % | 0.29 | % | 0.29 | % | 2.49 | % | 34.05 | % | ||||||||||||||||||
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 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.11 | 1.08 | % | $ | 2,082 | 0.51 | % | 0.26 | % | 0.26 | % | 2.02 | % | 16.50 | % | ||||||||||||||||
Year Ended June 30, 2014 | 10.11 | 4.10 | % | 2,490 | 0.54 | % | 0.29 | % | 0.29 | % | 2.48 | % | 34.05 | % | ||||||||||||||||||
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(f) | 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, 2014 (Unaudited) | $ | 10.39 | 1.16 | % | $ | 75,678 | 0.31 | % | 0.31 | % | 0.31 | % | 1.77 | % | 13.03 | % | ||||||||||||||||
Year Ended June 30, 2014 | 10.41 | 3.76 | % | 77,702 | 0.25 | % | 0.25 | % | 0.25 | % | 2.12 | % | 17.84 | % | ||||||||||||||||||
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(g) | 10.10 | 2.72 | % | 72,294 | 0.32 | % | 0.32 | % | 0.32 | % | 1.86 | % | 2.81 | % | ||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Six Months ended December 31, 2014 (Unaudited) | $ | 10.39 | 1.16 | % | $ | 604 | 0.56 | % | 0.31 | % | 0.31 | % | 1.77 | % | 13.03 | % | ||||||||||||||||
Year Ended June 30, 2014 | 10.41 | 3.66 | % | 724 | 0.50 | % | 0.25 | % | 0.25 | % | 2.11 | % | 17.84 | % | ||||||||||||||||||
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(g) | 10.10 | 1.54 | % | 303 | 0.57 | % | 0.32 | % | 0.32 | % | 1.99 | % | 2.81 | % |
See accompanying notes to financial statements.
210
HC CAPITAL TRUST
Notes to Financial Statements — December 31, 2014 (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, 2014, the Trust offered twenty 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”), The Institutional Small Capitalization–Mid Capitalization Equity Portfolio (“Institutional Small Cap–Mid Cap 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 Inflation Protected Securities Portfolio (“Inflation Protected 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, 2014, 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.
211
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2014 (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.
Fixed Income Securities (Corporate, Municipal and Foreign Bonds, U.S. Government and Agency Securities and Inflation Indexed Bonds): 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.
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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, 2014 (amounts in thousands):
Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
Value Portfolio | ||||||||||||||||
Common Stocks1 | $ | 549,974 | $ | — | $ | — | $ | 549,974 | ||||||||
Time Deposit | — | 1,956 | — | 1,956 | ||||||||||||
Mutual Fund | 64,463 | — | — | 64,463 | ||||||||||||
Total Investments | $ | 614,437 | $ | 1,956 | $ | — | $ | 616,393 | ||||||||
Institutional Value Portfolio | ||||||||||||||||
Common Stocks1 | $ | 878,735 | $ | — | $ | — | $ | 878,735 | ||||||||
Time Deposit | — | 5,572 | — | 5,572 | ||||||||||||
Mutual Funds | 106,040 | — | — | 106,040 | ||||||||||||
Total Investments | $ | 984,775 | $ | 5,572 | $ | — | $ | 990,347 | ||||||||
Growth Portfolio | ||||||||||||||||
Common Stocks1 | $ | 742,506 | $ | — | $ | — | $ | 742,506 | ||||||||
Time Deposit | — | 9,970 | — | 9,970 | ||||||||||||
Mutual Funds | 87,320 | — | — | 87,320 | ||||||||||||
Total Investments | $ | 829,826 | $ | 9,970 | $ | — | $ | 839,796 | ||||||||
Institutional Growth Portfolio | ||||||||||||||||
Common Stocks1 | $ | 1,188,047 | $ | — | $ | — | $ | 1,188,047 | ||||||||
Corporate Bonds1 | — | 5,296 | — | 5,296 | ||||||||||||
Asset Backed Securities | — | 105 | — | 105 | ||||||||||||
Collateralized Mortgage Obligations | — | 2,848 | — | 2,848 | ||||||||||||
Global Bonds2 | — | 4,007 | — | 4,007 | ||||||||||||
Municipal Bond3 | — | 234 | — | 234 | ||||||||||||
U.S. Government Agency Mortgages | — | 320 | — | 320 | ||||||||||||
U.S. Treasury Obligations | — | 27,643 | — | 27,643 | ||||||||||||
Yankee Dollars1 | — | 4,506 | — | 4,506 | ||||||||||||
Time Deposit | — | 20,122 | — | 20,122 | ||||||||||||
Mutual Funds | 140,553 | — | — | 140,553 | ||||||||||||
Repurchase Agreements | — | 10,500 | — | 10,500 | ||||||||||||
Total Investments | $ | 1,328,600 | $ | 75,581 | $ | — | $ | 1,404,181 |
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
Institutional Growth Portfolio (continued) | ||||||||||||||||
Other Financial Instruments4 | ||||||||||||||||
Futures | $ | 1,407 | $ | — | $ | — | $ | 1,407 | ||||||||
Centrally Cleared Interest Rate Swaps | — | (1,044 | ) | — | (1,044 | ) | ||||||||||
Interest Rate Swaps | — | 51 | — | 51 | ||||||||||||
Currency Contracts | — | 1,044 | — | 1,044 | ||||||||||||
Small Cap–Mid Cap Portfolio | ||||||||||||||||
Common Stocks1 | $ | 98,952 | $ | — | $ | — | $ | 98,952 | ||||||||
Time Deposit | — | 2,354 | — | 2,354 | ||||||||||||
Mutual Funds | 13,034 | — | — | 13,034 | ||||||||||||
Contingent Rights | — | — | 5 | — | — | 5 | ||||||||||
Warrant | — | 5 | — | — | — | 5 | ||||||||||
Total Investments | $ | 111,986 | $ | 2,354 | $ | — | $ | 114,340 | ||||||||
Institutional Small Cap–Mid Cap Portfolio | ||||||||||||||||
Common Stocks1 | $ | 171,042 | $ | — | $ | — | $ | 171,042 | ||||||||
Time Deposit | — | 6,803 | — | 6,803 | ||||||||||||
Mutual Funds | 18,521 | — | — | 18,521 | ||||||||||||
Contingent Rights | — | — | 5 | — | — | 5 | ||||||||||
Total Investments | $ | 189,563 | $ | 6,803 | $ | — | $ | 196,366 | ||||||||
Real Estate Portfolio | ||||||||||||||||
Common Stocks1 | $ | 146,377 | $ | 2,133 | $ | — | $ | 148,510 | ||||||||
Mutual Funds | 9,364 | — | — | 9,364 | ||||||||||||
Total Investments | $ | 155,741 | $ | 2,133 | $ | — | $ | 157,874 | ||||||||
Commodity Portfolio | ||||||||||||||||
Common Stocks1, 2, 6 | $ | 306,165 | $ | 257,719 | $ | — | $ | 563,884 | ||||||||
Preferred Stocks1, 2 | 4,135 | 308 | — | 4,443 | ||||||||||||
Corporate Bonds1 | — | 14,089 | — | 14,089 | ||||||||||||
Asset Backed Securities | — | 5,787 | — | 5,787 | ||||||||||||
Collateralized Mortgage Obligations | — | 9,478 | — | 9,478 | ||||||||||||
Certificates of Deposit | — | 11,529 | — | 11,529 | ||||||||||||
Global Bonds2 | — | 26,814 | — | 26,814 | ||||||||||||
U.S. Government Agency Securities | — | 15,375 | — | 15,375 | ||||||||||||
U.S. Treasury Obligations | — | 46,430 | — | 46,430 | ||||||||||||
Yankee Dollars1, 2 | — | 16,425 | — | 16,425 | ||||||||||||
Time Deposit | — | 14,501 | — | 14,501 | ||||||||||||
Right1, 2 | 37 | — | — | 37 | ||||||||||||
Mutual Funds | 9,154 | — | — | 9,154 | ||||||||||||
Options | 31 | — | — | 31 | ||||||||||||
Repurchase Agreements | — | 174,800 | — | 174,800 | ||||||||||||
Commercial Paper | — | 1,277 | — | 1,277 | ||||||||||||
Total Investments | $ | 319,522 | $ | 594,532 | $ | — | $ | 914,054 | ||||||||
Other Financial Instruments4 | ||||||||||||||||
Futures | $ | (6,982 | ) | $ | — | $ | — | $ | (6,982 | ) | ||||||
Currency Contracts | — | 940 | — | 940 | ||||||||||||
Written Options | (137 | ) | (84 | ) | — | (221 | ) | |||||||||
Variance Swaps | — | (118 | ) | — | (118) |
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
Commodity Portfolio (continued) | ||||||||||||||||
Other Financial Instruments4 (continued) | ||||||||||||||||
Commodity Forward Swaps | $ | — | $ | 3 | $ | — | $ | 3 | ||||||||
Commodity Swaps | — | (7,757 | ) | — | (7,757 | ) | ||||||||||
Total Return Swaps | — | (75 | ) | — | (75 | ) | ||||||||||
Interest Rate Swaps | — | (249 | ) | — | (249 | ) | ||||||||||
Centrally Cleared Interest Rate Swaps | — | (1,291 | ) | — | (1,291 | ) | ||||||||||
International Portfolio | ||||||||||||||||
Common Stocks1, 2, 6 | $ | 48,915 | $ | 1,214,729 | $ | — | $ | 1,263,644 | ||||||||
Preferred Stocks1, 2 | 2,946 | 5,351 | — | 8,297 | ||||||||||||
U.S. Treasury Obligations | — | 30 | — | 30 | ||||||||||||
Time Deposit | — | 5,544 | — | 5,544 | ||||||||||||
Rights1, 2 | 2 | 31 | — | 33 | ||||||||||||
Mutual Funds | 25,364 | — | — | 25,364 | ||||||||||||
Total Investments | $ | 77,227 | $ | 1,225,685 | $ | — | $ | 1,302,912 | ||||||||
Other Financial Instruments4 | ||||||||||||||||
Futures | $ | 15 | $ | — | $ | — | $ | 15 | ||||||||
Currency Contracts | — | (8 | ) | — | (8 | ) | ||||||||||
Institutional International Portfolio | ||||||||||||||||
Common Stocks1, 2, 6 | $ | 90,082 | $ | 2,698,059 | $ | — | $ | 2,788,141 | ||||||||
Preferred Stocks1, 2 | 5,264 | 10,616 | — | 15,880 | ||||||||||||
U.S. Treasury Obligations | — | 55 | — | 55 | ||||||||||||
Time Deposit | — | 27,434 | — | 27,434 | ||||||||||||
Rights1, 2 | 2 | 56 | — | 58 | ||||||||||||
Mutual Funds | 22,505 | — | — | 22,505 | ||||||||||||
Repurchase Agreement | — | 5,000 | — | 5,000 | ||||||||||||
Warrant1, 2 | 30 | — | — | 30 | ||||||||||||
Total Investments | $ | 117,883 | $ | 2,741,220 | $ | — | $ | 2,859,103 | ||||||||
Other Financial Instruments4 | ||||||||||||||||
Futures | $ | 24 | $ | — | $ | — | $ | 24 | ||||||||
Currency Contracts | — | (12 | ) | — | (12 | ) | ||||||||||
Emerging Markets Portfolio | ||||||||||||||||
Common Stocks1, 2 | $ | 291,495 | $ | 1,306,724 | $ | — | $ | 1,598,219 | ||||||||
Preferred Stocks1, 2 | 64,421 | 8,377 | — | 72,798 | ||||||||||||
Time Deposit | — | 10,425 | — | 10,425 | ||||||||||||
Right | 14 | — | — | 14 | ||||||||||||
Mutual Funds | 90,620 | — | — | 90,620 | ||||||||||||
Repurchase Agreement | — | 10,000 | — | 10,000 | ||||||||||||
Total Investments | $ | 446,550 | $ | 1,335,526 | $ | — | $ | 1,782,076 | ||||||||
Core Fixed Income Portfolio | ||||||||||||||||
Corporate Bonds1 | $ | — | $ | 25,477 | $ | — | $ | 25,477 | ||||||||
Asset Backed Securities | — | 527 | — | 527 | ||||||||||||
Collateralized Mortgage Obligations | — | 2,279 | — | 2,279 | ||||||||||||
U.S. Government Agency Securities | — | 1,954 | — | 1,954 | ||||||||||||
U.S. Government Agency Mortgages | — | 31,968 | — | 31,968 | ||||||||||||
U.S. Treasury Obligations | — | 21,000 | — | 21,000 |
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
Core Fixed Income Portfolio (continued) | ||||||||||||||||
Yankee Dollars1 | $ | — | $ | 4,577 | $ | — | $ | 4,577 | ||||||||
Time Deposit | — | 32 | — | 32 | ||||||||||||
Mutual Funds | 16,759 | — | — | 16,759 | ||||||||||||
Total Investments | $ | 16,759 | $ | 87,814 | $ | — | $ | 104,573 | ||||||||
TBA Sale Commitments | $ | — | $ | (527 | ) | $ | — | $ | (527 | ) | ||||||
Fixed Opportunity Portfolio | ||||||||||||||||
Corporate Bonds1 | $ | — | $ | 496,417 | $ | — | $ | 496,417 | ||||||||
Asset Backed Security | — | 5,660 | — | 5,660 | ||||||||||||
Collateralized Mortgage Obligations | — | 54,944 | — | 54,944 | ||||||||||||
Yankee Dollars1 | — | 117,047 | — | 117,047 | ||||||||||||
Time Deposit | — | 2,700 | — | 2,700 | ||||||||||||
Mutual Funds | 102,775 | — | — | 102,775 | ||||||||||||
Repurchase Agreement | — | 5,000 | — | 5,000 | ||||||||||||
Total Investments | $ | 102,775 | $ | 681,768 | $ | — | $ | 784,543 | ||||||||
Other Financial Instruments4 | ||||||||||||||||
Futures | $ | 159 | $ | — | $ | — | $ | 159 | ||||||||
U.S. Government Fixed Income Portfolio | ||||||||||||||||
Corporate Bond1 | $ | — | $ | 275 | $ | — | $ | 275 | ||||||||
U.S. Government Agency Securities | — | 20,179 | — | 20,179 | ||||||||||||
U.S. Treasury Obligations | — | 215,336 | — | 215,336 | ||||||||||||
Time Deposit | — | 516 | — | 516 | ||||||||||||
Mutual Fund | 35,986 | — | — | 35,986 | ||||||||||||
Total Investments | $ | 35,986 | $ | 236,306 | $ | — | $ | 272,292 | ||||||||
Inflation Protected Portfolio | ||||||||||||||||
U.S. Treasury Obligations | $ | — | $ | 454,610 | $ | — | $ | 454,610 | ||||||||
Mutual Funds | 54,160 | — | — | 54,160 | ||||||||||||
Total Investments | $ | 54,160 | $ | 454,610 | $ | — | $ | 508,770 | ||||||||
U.S. Corporate Fixed Income Portfolio | ||||||||||||||||
Corporate Bonds1 | $ | — | $ | 177,047 | $ | — | $ | 177,047 | ||||||||
Yankee Dollars1 | — | 30,999 | — | 30,999 | ||||||||||||
Mutual Funds | 37,659 | — | — | 37,659 | ||||||||||||
Total Investments | $ | 37,659 | $ | 208,046 | $ | — | $ | 245,705 | ||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | ||||||||||||||||
Asset Backed Securities | $ | — | $ | 4,127 | $ | — | $ | 4,127 | ||||||||
Collateralized Mortgage Obligations | — | 14,995 | — | 14,995 | ||||||||||||
U.S. Government Agency Mortgages | — | 221,459 | — | 221,459 | ||||||||||||
Mutual Funds | 64,553 | — | — | 64,553 | ||||||||||||
Total Investments | $ | 64,553 | $ | 240,581 | $ | — | $ | 305,134 | ||||||||
TBA Sale Commitments | $ | — | $ | (2,416 | ) | $ | — | $ | (2,416 | ) | ||||||
Short-Term Municipal Portfolio | ||||||||||||||||
Municipal Bonds3 | $ | — | $ | 20,671 | $ | — | $ | 20,671 | ||||||||
Mutual Fund | 304 | — | — | 304 | ||||||||||||
Total Investments | $ | 304 | $ | 20,671 | $ | — | $ | 20,975 |
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
Intermediate Municipal Portfolio | ||||||||||||||||
Corporate Bond1 | $ | — | $ | — | 5 | $ | — | $ | — | 5 | ||||||
Municipal Bonds3 | — | 357,765 | — | 357,765 | ||||||||||||
Time Deposit | — | 2,094 | — | 2,094 | ||||||||||||
Mutual Fund | 53,982 | — | — | 53,982 | ||||||||||||
Total Investments | $ | 53,982 | $ | 359,859 | $ | — | $ | 413,841 | ||||||||
Intermediate Municipal II Portfolio | ||||||||||||||||
Municipal Bonds3 | $ | — | $ | 65,438 | $ | — | $ | 65,438 | ||||||||
Mutual Funds | 10,929 | — | — | 10,929 | ||||||||||||
Total Investments | $ | 10,929 | $ | 65,438 | $ | — | $ | 76,367 |
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 | 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. |
5 | Amounts are $0 or have been rounded to $0. |
6 | Please see the Portfolio of Investments for securities noted as Level 2. |
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 no transfers from Level 2 to Level 1 as of December 31, 2014.
There were however, transfers from Level 1 to Level 2 as of December 31, 2014. On December 31, 2014, the Portfolios shown below systematically fair valued foreign securities trading on foreign stock exchanges that close before U.S. stock exchanges. The Portfolios did not systematically fair value on June 30, 2014.
Tranfers from Level 1 to Level 2 | ||||
Commodity Portfolio | ||||
Common Stocks | $ | 226,392 | ||
International Portfolio | ||||
Common Stocks | 1,124,566 | |||
Institutional International Portfolio | ||||
Common Stocks | 2,369,042 | |||
Emerging Markets Portfolio | ||||
Common Stocks | 1,066,337 |
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.
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
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). Whether a restricted security is illiquid is determined pursuant to guidelines established by the Board of Trustees. Not all restricted securities are considered illiquid. At December 31, 2014, the Commodity Portfolio and Intermediate Municipal Portfolio held illiquid restricted securities representing 0.14% and 0.46% of net assets, respectively. The illiquid restricted securities held as of December 31, 2014 are identified below:
Security | Acquisition Date | Acquisition Cost (000) | Shares or Principal Amount (000) | Fair Value (000) | ||||||||||||
Commodity Portfolio | ||||||||||||||||
Reliance Industries Ltd. | 10/3/11 | $ | 2,391 | 43 | $ | 1,227 | ||||||||||
Intermediate Municipal Portfolio | ||||||||||||||||
Chicago Illinois Certificates of Participation, Tax Increment Allocation Revenue, Diversey/Narragansett Project, Series NT, Callable 8/11/14 @ 100 | 8/1/06 | $ | 2,839 | 2,660 | $ | 1,903 |
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, Inflation Protected 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, Commodity Portfolio and Fixed Opportunity Portfolio declare and distribute dividends from net investment income, if any, 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 counterparty, 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 cash and/or government securities (as defined in the 1940 Act). If approved by the Adviser, repurchase agreements may also be fully collateralized by other securities that, at the time the repurchase agreement is entered into, are determined by the Board,
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
or its authorized delegate, to be (i) issued by an issuer that has an exceptionally strong capacity to meet its obligations on the collateral, and (ii) sufficiently liquid that they can be sold by the Trust at approximately their carrying value in the ordinary course of business within seven (7) calendar days. Master Repurchase Agreements (“MRA”) permit the Portfolios, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset receivables under the MRA with collateral posted by the counterparty and create one net payment due to or from the Portfolios. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of the MRA counterparty’s bankruptcy or insolvency. Pursuant to the terms of the MRA, the Portfolios receive securities as collateral with a market value in excess of the repurchase price to be received by the Portfolios upon the maturity of the transaction. Upon a bankruptcy or insolvency of the MRA counterparty, the Portfolios would recognize a liability with respect to such excess collateral to reflect the Portfolio’s obligation under bankruptcy law to return the excess to the counterparty.
The following table is a summary of each Portfolio’s open repurchase agreements by counterparty which are subject to offset under an MRA on a net basis as of December 31, 2014:
Portfolio | Value of Repurchase Agreements (000) | Value of Collateral Received (000) | Net Amount (000) | |||||||||
Institutional Growth Equity Portfolio | $ | 10,500 | $ | 10,500 | $ | — | ||||||
Commodity Returns Strategy Portfolio | 174,800 | 174,800 | — |
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, 2014, the following commissions were recaptured (amounts in thousands):
Portfolio | Commissions Recaptured | |||
Value Equity Portfolio | $ | 21 | ||
Institutional Value Equity Portfolio | 42 | |||
Growth Portfolio | 7 | |||
Institutional Growth Equity Portfolio | 12 | |||
Small Capitalization–Mid Capitalization Equity Portfolio | 3 | |||
Institutional Small Capitalization–Mid Capitalization Equity Portfolio | 5 | |||
Real Estate Securities Portfolio | 1 | |||
Commodity Returns Strategy Portfolio | 5 | |||
International Equity Portfolio | 3 | |||
Institutional International Equity Portfolio | 9 | |||
Emerging Markets Portfolio | 32 |
219
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
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.
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.
220
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
The following is a summary of the fair value of derivative instruments held by the Portfolios as of December 31, 2014 (amounts in thousands).
Assets | ||||||||||||||||||||
Portfolio | Unrealized appreciation on futures contracts* | Investments, at value for purchased options | Investments, at value for written options | Unrealized appreciation on forward currency contracts | Swap agreements, at value* | |||||||||||||||
Equity Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | $ | 1,375 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Commodity Portfolio | 6 | — | — | — | 1 | |||||||||||||||
International Portfolio | 15 | — | — | — | — | |||||||||||||||
Institutional International Portfolio | 24 | — | — | — | — | |||||||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | — | — | — | 1,972 | — | |||||||||||||||
Commodity Portfolio | — | — | — | 1,333 | — | |||||||||||||||
International Portfolio | — | — | — | 21 | — | |||||||||||||||
Institutional International Portfolio | — | — | — | 34 | — | |||||||||||||||
Fixed Income Opportunity Portfolio | 159 | — | — | — | — | |||||||||||||||
Commodity Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 2,104 | 31 | — | — | 262 | |||||||||||||||
Interest Rate Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | 63 | — | — | — | 444 | |||||||||||||||
Commodity Portfolio | — | — | — | — | 422 |
Liabilities | ||||||||||||||||||||
Portfolio | Net unrealized deprecation on futures contracts* | Purchased options, at fair value | Written options, at fair value | Unrealized depreciation on forward currency contracts | Swap agreements, at value* | |||||||||||||||
Equity Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | $ | 6 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | — | — | — | 928 | — | |||||||||||||||
Commodity Portfolio | — | — | — | 393 | ||||||||||||||||
International Portfolio | — | — | — | 29 | — | |||||||||||||||
Institutional International Portfolio | — | — | — | 46 | — | |||||||||||||||
Commodity Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 9,086 | — | 137 | — | 8,210 | |||||||||||||||
Interest Rate Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | 31 | — | — | — | 1,539 | |||||||||||||||
Commodity Portfolio | — | — | 84 | — | 1,962 |
* | 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 and centrally cleared swaps, the amounts represent their cumulative appreciation/depreciation. |
Amounts designated as “—” are $0 or have been rounded to $0.
221
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
The following is a summary of the effect of derivative instruments on the Statements of Operations for the year ending December 31, 2014 (amounts in thousands).
Portfolio | 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 | $ | 11,117 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Commodity Portfolio | 12 | — | — | — | — | |||||||||||||||
International Portfolio | (116 | ) | — | — | — | — | ||||||||||||||
Institutional International Portfolio | (203 | ) | — | — | — | — | ||||||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | — | — | — | 1,078 | — | |||||||||||||||
Commodity Portfolio | — | — | — | 2,399 | — | |||||||||||||||
International Portfolio | — | — | — | 119 | — | |||||||||||||||
Institutional International Portfolio | — | — | — | (71 | ) | — | ||||||||||||||
Fixed Income Opportunity Portfolio | 95 | — | — | — | — | |||||||||||||||
Commodity Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | (42,115 | ) | 47 | — | — | (96,965 | ) | |||||||||||||
Interest Rate Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | (247 | ) | (109 | ) | (1 | ) | — | (474 | ) | |||||||||||
Commodity Portfolio | 23 | — | — | — | (145 | ) |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result from Operations | ||||||||||||||||||||
Portfolio | 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 | $ | (731 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||
Commodity Portfolio | (6 | ) | — | — | — | — | ||||||||||||||
International Portfolio | 15 | — | — | — | — | |||||||||||||||
Institutional International Portfolio | 26 | — | — | — | — | |||||||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | — | — | — | 1,206 | — | |||||||||||||||
Commodity Portfolio | — | — | — | 997 | — | |||||||||||||||
International Portfolio | — | — | — | 10 | — | |||||||||||||||
Institutional International Portfolio | — | — | — | 10 | — | |||||||||||||||
Fixed Income Opportunity Portfolio | 159 | — | — | — | — | |||||||||||||||
Commodity Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | (13,907 | ) | (81 | ) | (112 | ) | — | (8,303 | ) | |||||||||||
Interest Rate Risk Exposure: | ||||||||||||||||||||
Institutional Growth Portfolio | 113 | (3 | ) | 1 | — | (1,162 | ) | |||||||||||||
Commodity Portfolio | (2 | ) | 2 | (1 | ) | — | (799 | ) |
Amounts designated as “—” are $0 or have been rounded to $0.
222
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
Offsetting Assets and Liabilities: 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 counterparty. 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 MNA at December 31, 2014. 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.
As of December 31, 2014, each Fund's derivative assets and liabilities by type are as follows (amounts in thousands):
Institutional Growth Portfolio | Commodity Portfolio | International Portfolio | Institutional International Portfolio | Fixed Income Opportunity Portfolio | ||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||||||||||||||||||||||
Futures contracts | $ | 18 | $ | 510 | $ | 331 | $ | 7,230 | $ | 1 | $ | — | $ | 1 | $ | — | $ | 159 | $ | — | ||||||||||||||||||||
Forward currency contracts | 1,974 | 930 | 1,335 | 395 | 21 | 29 | 34 | 46 | — | — | ||||||||||||||||||||||||||||||
Option contracts* | — | — | 31 | 221 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Swap agreements | 25 | 77 | 277 | 8,462 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Total derivative assets and liabilities in the Statement of Assets and Liabilities | 2,017 | 1,517 | 1,974 | 16,308 | 22 | 29 | 35 | 46 | 159 | — | ||||||||||||||||||||||||||||||
Derivatives not subject to a master netting agreement or similar agreement (“MNA”) | (43 | ) | (536 | ) | (373 | ) | (7,367 | ) | (1 | ) | — | (1 | ) | — | (159 | ) | — | |||||||||||||||||||||||
Total assets and liabilities subject to a MNA | $ | 1,974 | $ | 981 | $ | 1,601 | $ | 8,941 | $ | 21 | $ | 29 | $ | 34 | $ | 46 | $ | — | $ | — |
* | Includes option contracts purchased at value as reported in the Statement of Assets and Liabilities. |
223
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
The following table represents each Fund's derivative assets by counterparty net of amounts available for offset under a master netting arrangement and net of the related collateral received by each Fund as of December 31, 2014 (amounts in thousands):
Counterparty | Derivative Assets Subject to a MNA by Counterparty | Derivatives Available for Offset | Non-cash Collateral Received (a) | Cash Collateral Received (a) | Net Amount of Derivative Assets | |||||||||||||||
Institutional Growth Portfolio: | ||||||||||||||||||||
Bank of America | $ | 63 | $ | (63 | ) | $ | — | $ | — | $ | — | |||||||||
BNP Paribas | 293 | (58 | ) | — | (235 | ) | — | |||||||||||||
Citibank | 96 | (96 | ) | — | — | — | ||||||||||||||
Deutsche Bank | 411 | (88 | ) | — | (270 | ) | 53 | |||||||||||||
Goldman Sachs | 276 | — | — | — | 276 | |||||||||||||||
JPMorgan Chase | 770 | (100 | ) | — | (670 | ) | — | |||||||||||||
Royal Bank of Scotland | 65 | — | — | — | 65 | |||||||||||||||
Total | $ | 1,974 | $ | (405 | ) | $ | — | $ | (1,175 | ) | $ | 394 | ||||||||
Commodity Portfolio: | ||||||||||||||||||||
Barclays Bank | $ | 122 | $ | (4 | ) | $ | — | $ | (90 | ) | $ | 28 | ||||||||
Credit Suisse | 189 | (13 | ) | — | (70 | ) | 106 | |||||||||||||
Deutsche Bank | 276 | (276 | ) | — | — | — | ||||||||||||||
Goldman Sachs | 423 | (420 | ) | — | — | 3 | ||||||||||||||
JPMorgan Chase | 591 | (567 | ) | — | — | 24 | ||||||||||||||
Total | $ | 1,601 | $ | (1,280 | ) | $ | — | $ | (160 | ) | $ | 161 | ||||||||
International Portfolio: | ||||||||||||||||||||
UBS Warburg | $ | 21 | $ | — | $ | — | $ | — | $ | 21 | ||||||||||
Total | $ | 21 | $ | — | $ | — | $ | — | $ | 21 | ||||||||||
Institutional International Portfolio: | ||||||||||||||||||||
Credit Suisse | $ | 1 | $ | (1 | ) | $ | — | $ | — | $ | — | |||||||||
UBS Warburg | 33 | — | — | — | 33 | |||||||||||||||
Total | $ | 34 | $ | (1 | ) | $ | — | $ | — | $ | 33 |
224
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
The following table represents each Fund’s derivative liabilities by counterparty net of amounts available for offset under a master netting arrangement and net of the related collateral pledged by each Fund as of December 31, 2014 (amounts in thousands):
Counterparty | Derivative Liabilities Subject to a MNA by Counterparty | Derivatives Available for Offset | Non-cash Collateral Pledged (a) | Cash Collateral Pledged (a) | Net Amount of Derivative Liabilities | |||||||||||||||
Institutional Growth Portfolio: | ||||||||||||||||||||
Bank of America | $ | 108 | $ | (63 | ) | $ | — | $ | — | $ | 45 | |||||||||
BNP Paribas | 58 | (58 | ) | — | — | — | ||||||||||||||
Citibank | 606 | (96 | ) | (510 | ) | — | — | |||||||||||||
Deutsche Bank | 88 | (88 | ) | — | — | — | ||||||||||||||
JPMorgan Chase | 100 | (100 | ) | — | — | — | ||||||||||||||
Westpac Banking Corp. | 21 | — | — | — | 21 | |||||||||||||||
Total | $ | 981 | $ | (405 | ) | $ | (510 | ) | $ | — | $ | 66 | ||||||||
Commodity Portfolio: | ||||||||||||||||||||
Barclays Bank | $ | 4 | $ | (4 | ) | $ | — | $ | — | $ | — | |||||||||
Canadian Imperial Bank of Commerce | 86 | — | — | — | 86 | |||||||||||||||
Deutsche Bank | 2,932 | (276 | ) | (1,658 | ) | — | 998 | |||||||||||||
Goldman Sachs | 1,616 | (423 | ) | (806 | ) | (255 | ) | 132 | ||||||||||||
JPMorgan Chase | 4,290 | (567 | ) | (3,627 | ) | — | 96 | |||||||||||||
Total | $ | 8,941 | $ | (1,283 | ) | $ | (6,091 | ) | $ | (255 | ) | $ | 1,312 | |||||||
International Portfolio: | ||||||||||||||||||||
Citibank | $ | 26 | $ | — | $ | — | $ | — | $ | 26 | ||||||||||
JPMorgan Chase | 1 | — | — | — | 1 | |||||||||||||||
Mellon Bank | 2 | — | — | — | 2 | |||||||||||||||
Total | $ | 29 | $ | — | $ | — | $ | — | $ | 29 | ||||||||||
Institutional International Portfolio: | ||||||||||||||||||||
Citibank | $ | 43 | $ | — | $ | — | $ | — | $ | 43 | ||||||||||
Credit Suisse | 2 | (1 | ) | — | — | 1 | ||||||||||||||
Deutsche Bank | 1 | — | — | — | 1 | |||||||||||||||
Total | $ | 46 | $ | (1 | ) | $ | — | $ | — | $ | 45 |
(a) | The actual collateral received or 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 Statement 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 fluctuation in value during the period the forward contract was open. The Portfolio could be exposed to credit risk if the counterparty is unable to meet the terms of a forward contract, or market risk if the value of the currency changes unfavorably.
225
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
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, 2014 are recorded for financial reporting purposes as net unrealized gains or losses by the Portfolio. In addition, at December 31, 2014, 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 for investments purchased.” The amount of the forward contracts outstanding as of December 31, 2014 and the month-end average contract amount for all forward contracts during the period ending December 31, 2014 are detailed in the table below:
Portfolio | Average Month-End Notional Amount (000) | Forwards Amount Outstanding at December 31, 2014 (000) | ||||||
Institutional Growth Portfolio | $ | 54,496 | $ | 47,796 | ||||
Commodity Portfolio | 98,782 | 115,319 | ||||||
International Portfolio | 5,842 | 3,018 | ||||||
Institutional International Portfolio | 6,820 | 3,473 |
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, 2014 and the month-end average notional amount for the period ending December 31, 2014 are detailed in the table below:
Portfolio | Average Month-End Notional Amount (000) | Notional Amount of Futures Contracts Outstanding at December 31, 2014 (000) | ||||||
Institutional Growth Portfolio | $ | 154,741 | $ | 56,051 | ||||
Commodity Portfolio | 297,104 | 195,276 | ||||||
International Portfolio | 1,133 | 527 | ||||||
Institutional International Portfolio | 1,932 | 862 | ||||||
Fixed Opportunity Portfolio | 2,858 | 5,599 |
226
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
Options Contracts — Purchased Options Contracts: Certain of the Portfolios may be subject to equity price risk, commodities 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 had the following transactions in purchased call and put options during the period ended December 31, 2014:
Number of Contracts | Cost (000) | |||||||
Options outstanding at June 30, 2014 | 28 | $ | 2 | |||||
Options purchased | 28 | — | ||||||
Options exercised | — | — | ||||||
Options expired | — | — | ||||||
Options closed | (56 | ) | (2 | ) | ||||
Options outstanding at December 31, 2014 | — | $ | — |
The Institutional Growth Portfolio had the following transactions in written call and put options during the period ended December 31, 2014:
Number of Contracts | Premiums Received (000) | |||||||
Options outstanding at June 30, 2014 | (28 | ) | $ | (3 | ) | |||
Options written | (7,767,604 | ) | (204 | ) | ||||
Options exercised | — | — | ||||||
Options expired | 3,014,480 | 66 | ||||||
Options closed | 4,753,152 | 141 | ||||||
Options outstanding at December 31, 2014 | — | $ | — |
227
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
The Commodity Portfolio had the following transactions in purchased call and put options during the period ended December 31, 2014:
Number of Contracts | Cost (000) | |||||||
Options outstanding at June 30, 2014 | 50 | $ | 192 | |||||
Options purchased | 116 | 139 | ||||||
Options exercised | — | — | ||||||
Options expired | (49 | ) | (41 | ) | ||||
Options closed | (8 | ) | (27 | ) | ||||
Options outstanding at December 31, 2014 | 109 | $ | 263 |
The Commodity Portfolio had the following transactions in written call and put options during the period ended December 31, 2014:
Number of Contracts | Notional (000)(1) | Premiums Received (000) | ||||||||||
Options outstanding at June 30, 2014 | (646 | ) | $ | — | $ | (113 | ) | |||||
Options written | (2,525 | ) | (7,852 | ) | (380 | ) | ||||||
Options exercised | — | — | — | |||||||||
Options expired | 930 | 1,852 | 132 | |||||||||
Options closed | 152 | — | 110 | |||||||||
Options outstanding at December 31, 2014 | (2,089 | ) | $ | (6,000 | ) | $ | (251 | ) |
(1) | Includes swaptions. |
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 that 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
228
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
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 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.
Variance Swaps: Certain of the Portfolios may invest in variance swaps to gain or reduce 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., the 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, 2014 is disclosed in the swap tables included in the Portfolios of Investments. The notional value of the swap agreements outstanding at December 31, 2014 and the month-end average notional amount for the period ending December 31, 2014 are detailed in the table below:
Portfolio | Average Month-End Notional Amount (000) | Notional Amount of Swap Agreements Outstanding at December 31, 2014 (000) | ||||||
Institutional Growth Portfolio | $ | 122,784 | $ | 95,888 | ||||
Commodity Portfolio | 320,618 | 232,871 |
L. Inflation Indexed Bonds. Certain of the Portfolios may invest in inflation-indexed bonds, which are fixed income securities whose principal value is periodically adjusted to the rate of inflation. The interest rate on these bonds is generally fixed at issuance at a rate lower than typical bonds. Over the life of an inflation-indexed bond, however, interest will be paid based on a principal value which is adjusted for inflation. Any increase or decrease in the principal amount of an inflation-indexed bond will be included as interest income on the Statements of Operations, even though investors do not receive their principal until maturity.
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Interest rates on conventional bonds have two primary components: a “real” yield and an increment that reflects investor expectations of future inflation. By contrast, interest rates on inflation-indexed bonds are adjusted for inflation and, therefore, are not affected meaningfully by inflation expectations. This leaves only real rates to influence the price of inflation-indexed bonds. A rise in real rates will cause the price of inflation-indexed bonds to fall, while a decline in real rates will boost the price of inflation-indexed bonds. Inflation-indexed bonds issued by non-U.S. governments would be expected to be indexed to the inflation rates prevailing in those countries.
The primary risk associated with the use of inflation-indexed bonds is that the principal value of an investment is not protected or otherwise guaranteed by virtue of the Fund’s investments in inflation-indexed bonds. Inflation-indexed bonds are fixed-income securities whose principal value is periodically adjusted according to the rate of inflation. If the index measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward, and consequently the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced. Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. Treasury inflation-indexed bonds. For bonds that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal value. Deflation risk is the possibility that prices throughout the economy decline over time and, in which case, the principal and income of an inflation-protected bond will decline and could result in losses.
M. Bank Loans. Certain Portfolios may invest in bank loans, which generally have interest rates which are reset periodically 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, 2014 none of the Portfolios invested in bank loans.
N. Securities Lending. Certain of the Portfolios may lend from their total assets in the form of their portfolio securities to broker dealers under contracts calling for collateral equal to at least the market value of the securities loaned, marked to market on a daily basis. The Portfolios will continue to benefit from interest or dividends on the securities loaned and may also earn a return from the collateral. The Portfolios pay various fees in connection with the investment of the collateral. Under some securities lending arrangements a Portfolio may receive a set fee for keeping its securities available for lending. Any voting rights, or rights to consent, relating to securities loaned pass to the borrower. Cash collateral received by a Portfolio in securities lending transactions may be invested in short-term liquid fixed income instruments or in money market or short-term funds, or similar investment vehicles. A Portfolio bears the risk of such investments. Securities on loan at December 31, 2014 are presented in the Portfolio of Investments.
Securities lending transactions are entered into by each Portfolio under a Master Securities Lending Agreement (“MSLA”) which permits the Portfolios, under certain circumstances including an event of default (such as bankruptcy or insolvency), to offset amounts payable by the Portfolios to the same counterparty against amounts to be received and create one single net payment due to or from the Portfolios.
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The following table is a summary of the Portfolios’ securities lending agreements by counterparty which are subject to offset under an MSLA as of December 31, 2014:
Portfolio | Value of Securities on Loan (000) | Value of Collateral Received (000) | Net Amount (000) | |||||||||
Value Equity Portfolio | $ | 4,194 | $ | 4,194 | $ | — | ||||||
Institutional Value Equity Portfolio | 7,104 | 7,104 | — | |||||||||
Growth Portfolio | 110 | 110 | — | |||||||||
Institutional Growth Equity Portfolio | 326 | 326 | — | |||||||||
Small Capitalization–Mid Capitalization Equity Portfolio | 2,009 | 2,009 | — | |||||||||
Institutional Small Capitalization–Mid Capitalization Equity Portfolio | 5,388 | 5,388 | — | |||||||||
Commodity Returns Strategy Portfolio | 9,393 | 9,393 | — | |||||||||
International Equity Portfolio | 6,985 | 6,985 | — | |||||||||
Institutional International Equity Portfolio | 13,029 | 13,029 | — | |||||||||
Emerging Markets Portfolio | 13,912 | 13,912 | — | |||||||||
Fixed Income Opportunity Portfolio | 9,349 | 9,349 | — | |||||||||
Core Fixed Income Portfolio | 591 | 591 | — | |||||||||
U.S. Corporate Fixed Income Securities Portfolio | 4,451 | 4,451 | — |
* | The actual value of collateral received may be in excess of the amounts shown in the table. The table only reflects collateral amounts up to the amount of the value of securities on loan as disclosed in the Statements of assets and liabilities. |
O. 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 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 of 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.
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The following table summarizes the structure, incorporation and relationship information of the Funds, and certain financial information of the Funds recognized in the consolidated financial statements referred to above (amounts in thousands).
HC Commodity Related Securities Fund, Ltd. | HC Commodity Related Securities Fund II, Ltd. | |||||||
Date of Incorporation | April 27, 2011 | June 2, 2011 | ||||||
Fund Net Assets | ||||||||
Commodity Portfolio | $ | 54,434 | $ | 42,980 | ||||
Subsidiary % of Fund net assets | 6.12 | % | 4.83% | |||||
Consolidated Financial Statement Information | ||||||||
Total assets | 61,532 | 57,512 | ||||||
Total liabilities | 7,098 | 14,531 | ||||||
Net assets | 54,434 | 42,980 | ||||||
Total investment income | 20 | 35 | ||||||
Net investment income (loss) | 3 | 19 | ||||||
Net realized gains/(losses) from investment transactions | (311 | ) | 72 | |||||
Net realized gains/(losses) from futures transactions | (43,028 | ) | 1,129 | |||||
Net realized gains/(losses) from written options transactions | (154 | ) | 47 | |||||
Net realized gains/(losses) from swap transactions | (683 | ) | (54,611 | ) | ||||
Net realized gains/(losses) from foreign currency transactions | — | (49 | ) | |||||
Change in net unrealized appreciation (depreciation) on investments | 144 | (244 | ) | |||||
Change in net unrealized appreciation (depreciation) on futures | (13,226 | ) | (603 | ) | ||||
Change in net unrealized appreciation (depreciation) on written options | (72 | ) | (24 | ) | ||||
Change in net unrealized appreciation (depreciation) on swaps | (311 | ) | (8,328 | ) | ||||
Change in net unrealized appreciation (depreciation) on foreign currency translations | — | (20 | ) | |||||
Net realized/unrealized gains/(losses) from investments, futures, written options, swap transactions, foreign currency transactions | (57,640 | ) | (62,632 | ) | ||||
Change in net assets resulting from operations | (57,638 | ) | (62,613 | ) |
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, 2014, 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.
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Value Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Institutional Capital, LLC | $ | 157 | 0.35 | % | ||||
AllianceBernstein L.P. | 365 | 0.32 | %(a) | |||||
Cadence Capital Management, LLC | 87 | 0.065 | %(b) | |||||
Mellon Capital Management Corporation | — | 0.065 | %(c)(d) | |||||
Parametric Portfolio Associates, LLC | — | 0.350 | %(c)(z) | |||||
Total | $ | 609 | 0.21 | % |
International Value Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Institutional Capital, LLC | $ | 222 | 0.35 | % | ||||
AllianceBernstein L.P. | 631 | 0.32 | %(a) | |||||
Cadence Capital Management, LLC | 143 | 0.065 | %(b) | |||||
Pacific Investment Management Company, LLC | — | 0.25 | %(c) | |||||
Mellon Capital Management Corporation | — | 0.065 | %(c)(d) | |||||
Parametric Portfolio Associates, LLC | — | 0.350 | %(c)(z) | |||||
Total | $ | 996 | 0.21 | % |
Growth Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Jennison Associates LLC | $ | 393 | 0.25 | %(e) | ||||
Sustainable Growth Advisers | 328 | 0.35 | % | |||||
Mellon Capital Management Corporation | 93 | 0.065 | %(d) | |||||
Cadence Capital Management, LLC | — | 0.065 | %(b)(c) | |||||
Parametric Portfolio Associates, LLC | — | 0.350 | %(c)(z) | |||||
Total | $ | 814 | 0.21 | % |
Institutional Growth Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Jennison Associates, LLC | $ | 689 | 0.25 | %(e) | ||||
Sustainable Growth Advisers | 278 | 0.35 | % | |||||
Pacific Investment Management Company, LLC | 197 | 0.25 | % | |||||
Mellon Capital Management Corporation | 160 | 0.065 | %(d) | |||||
Cadence Capital Management, LLC | — | 0.065 | %(b)(c) | |||||
Parametric Portfolio Associates, LLC | — | 0.350 | %(c)(z) | |||||
Total | $ | 1,323 | 0.19 | % |
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
Small Cap-Mid Cap Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Frontier Capital Management Company, LLC | $ | 72 | 0.45 | % | ||||
Mellon Capital Management Corporation | 3 | 0.065 | %(d) | |||||
IronBridge Capital Management LP | 155 | 0.95 | % | |||||
Pzena Investment Management, LLC | 59 | 1.00 | % | |||||
Cupps Capital Management, LLC | 32 | 0.85 | % | |||||
Cadence Capital Management, LLC | — | 0.065 | %(b)(c) | |||||
Ariel Investments, LLC | 28 | 1.00 | %(f) | |||||
Total | $ | 348 | 0.70 | % |
Institutional Small Cap-Mid Cap Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Frontier Capital Management Company, LLC | $ | 121 | 0.45 | % | ||||
IronBridge Capital Management LP | 309 | 0.95 | % | |||||
Pzena Investment Management, LLC | 99 | 1.00 | % | |||||
Cupps Capital Management, LLC | 85 | 0.85 | % | |||||
Mellon Capital Management Corporation | 2 | 0.066 | %(d) | |||||
Cadence Capital Management, LLC | — | 0.065 | %(b)(c) | |||||
Ariel Investments, LLC | — | 1.00 | %(c)(f) | |||||
Total | $ | 615 | 0.75 | % |
Real Estate Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Wellington Management Company LLP | $ | 553 | 0.67 | %(g) | ||||
Mellon Capital Management Corporation | $ | — | 0.10 | %(c)(h) | ||||
Cadence Capital Management, LLC | $ | — | 0.10 | %(c)(i) | ||||
Total | $ | 553 | 0.67 | % |
Commodity Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Wellington Management Company, LLP | $ | 1,193 | 0.85 | %(j) | ||||
Wellington Management Company, LLP | 1,004 | 0.75 | %(k) | |||||
Pacific Investment Management Company, LLC | 634 | 0.49 | % | |||||
Mellon Capital Management Corporation | 143 | 0.10 | %(h) | |||||
Cadence Capital Management, LLC | — | 0.10 | %(c)(i) | |||||
Total | $ | 2,974 | 0.55 | % |
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International Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Causeway Capital Management, LLC | $ | 343 | 0.45 | % | ||||
Artisan Partners Limited Partnership | 512 | 0.66 | %(l) | |||||
Capital Guardian Trust Company | 375 | 0.33 | %(m) | |||||
Cadence Capital Management, LLC | 428 | 0.10 | %(o)(q) | |||||
Mellon Capital Management Corporation | 73 | 0.13 | %(n)(p) | |||||
Total | $ | 1,731 | 0.23 | % |
Institutional International Equity Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Causeway Capital Management, LLC | $ | 502 | 0.45 | % | ||||
Artisan Partners Limited Partnership | 763 | 0.64 | %(l) | |||||
Capital Guardian Trust Company | 441 | 0.33 | %(m) | |||||
Cadence Capital Management, LLC | 822 | 0.10 | %(o)(q) | |||||
Lazard International Management, LLC | 558 | 0.36 | %(r) | |||||
Mellon Capital Management Corporation | 130 | 0.13 | %(n)(p) | |||||
Total | $ | 3,215 | 0.22 | % |
Emerging Markets Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Boston Company Asset Management | $ | 2,690 | 0.58 | %(s) | ||||
Mellon Capital Management Corporation | 596 | 0.14 | %(n) | |||||
Cadence Capital Management, LLC | — | 0.13 | %(c)(o) | |||||
Total | $ | 3,286 | 0.36 | % |
Core Fixed Income Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Seix Investment Advisors LLC | $ | 35 | 0.22 | %(t) | ||||
Mellon Capital Management Corporation | 7 | 0.06 | %(u) | |||||
Mellon Capital Management Corporation | 11 | 0.15 | %(v) | |||||
Total | $ | 53 | 0.12 | % |
Fixed Income Opportunity Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Fort Washington Investment Advisors, Inc. | $ | 775 | 0.20 | %(w) | ||||
Western Asset Management Company | 99 | 0.75 | %(aa) | |||||
City of London | 20 | 0.45 | %(bb) | |||||
Mellon Capital Management | — | 0.25 | %(c) | |||||
Total | $ | 894 | 0.27 | % |
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
U.S. Government Fixed Income Securities Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Capital Management Corporation | $ | 67 | 0.06 | % |
Inflation Protected Securities Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Capital Management Corporation | $ | 94 | 0.04%(x) |
U.S. Corporate Fixed Income Securities Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Seix Investment Advisors LLC | $ | 250 | 0.22 | %(t) | ||||
Mellon Capital Management Corporation | $ | — | 0.15 | %(c) | ||||
Total | $ | 250 | 0.22 | % |
U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Capital Management Corporation | $ | 69 | 0.06 | % |
Short-Term Municipal Bond Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Breckinridge Capital Advisors, Inc. | $ | 14 | 0.13 | % |
Intermediate Municipal Bond Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Standish Mellon Asset Management Company | $ | 325 | 0.17%(y) |
Intermediate Municipal Bond II Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Breckinridge Capital Advisors, Inc. | $ | 43 | 0.13 | % |
(a) | 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. |
“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 |
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
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, 2014. |
(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 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 the Institutional Small Cap–Mid Cap Portfolio during the period 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.
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(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 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”) account, 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 account, 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 account. |
(l) | Effective March 12, 2014, 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; and
— 0.60% on assets in excess of $50 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.
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(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;
— 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
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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.
(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) | 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 of that portion of the Portfolio managed by Lazard. |
(s) | 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; 0.55% of the average daily net assets on the next $200 million; and 0.50% of the average daily net assets over $400 million of that portion of the Portfolio managed by Boston Company. |
(t) | 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.
(u) | 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 and U.S. Government securities portions 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. |
(v) | 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. |
(w) | 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, and 0.20% of the Combined Assets exceeding $200 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.
(x) | Mellon receives a fee, which shall be payable monthly in arrears, at the annual rate of: 0.04% of the average daily net assets invested according to a domestic inflation-protected securities strategy; 0.07% of the average daily net assets invested according to a global inflation-protected securities strategy; and 0.13% of the average daily net assets invested according to an emerging-markets inflation-protected securities strategy. |
(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) |
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
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.
(z) | Parametric Portfolio Associates, LLC (“Parametric”) receives a fee, which shall be calculated daily and payable monthly in arrears at an annual rate of 0.35% of the first $50 million of the Combined Assets (as defined below) and 0.25% of the Combined Assets exceeding $50 million. |
“Combined Assets” shall mean the sum of: the net assets managed by Parametric in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, and Institutional Growth Portfolio.
(aa) | Effective August 29, 2014, Western Asset Management Company (“Western Asset”) receives an annual fee of 0.75% of the average daily net assets of that portion of the Fixed Income Opportunity Portfolio allocated to Western Asset. Prior to August 29, 2014, Western Asset received a fee of 0.40% of the first $25 million of the Combined Assets (as defined below); 0.375% of the next $25 million of the Combined Assets; 0.3375% of the next $50 million of the Combined Assets; 0.25% of the next $100 million of the Combined Assets; and 0.20% of the Combined Assets over $200 million. |
“Combined Assets” shall mean the sum of: the net assets managed by Western Asset in the Fixed Income Opportunity Portfolio and certain other net assets managed by Western Asset for clients of the Trust’s primary advisor.
(bb) | City of London Investment Management Company Limited (“CLIM”) receives an annual fee of 1.00% of the average daily net assets of the first $100 million; 0.80% of the average daily net assets on the next $100 million; and 0.50% of the average daily net assets over $200 million invested in emerging markets and an annual fee of 0.80% of the average daily net assets of the first $50 million; and 0.40% of the average daily net assets over $50 million invested in developed international markets. |
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 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 $1,957,236 to Citi for the period ending December 31, 2014.
The Trust has adopted a Distribution Plan for the HC 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 HC 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.
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
Unified Financial Securities, Inc. (“Unified”), a wholly-owned subsidiary of Huntington Bancshares, Inc., provides certain distribution services to the Trust. 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 was compensated $110,000 per year through December 31, 2014. Effective January 1, 2015, Alaric is compensated $150,000 per year for these services.
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, 2014 were as follows (amounts in thousands):
Portfolio | Purchases | Sales | ||||||
Value Portfolio | $ | 325,697 | $ | 372,205 | ||||
Institutional Value Portfolio | 597,494 | 692,526 | ||||||
Growth Portfolio | 146,664 | 230,979 | ||||||
Institutional Growth Portfolio | 564,145 | 667,348 | ||||||
Small Cap–Mid Cap Portfolio | 15,124 | 33,362 | ||||||
Institutional Small Cap–Mid Cap Portfolio | 91,159 | 86,257 | ||||||
Real Estate Portfolio | 51,506 | 89,057 | ||||||
Commodity Portfolio | 1,355,831 | 1,244,246 | ||||||
International Portfolio | 334,198 | 408,645 | ||||||
Institutional International Portfolio | 859,055 | 556,506 | ||||||
Emerging Markets Portfolio | 840,308 | 636,256 | ||||||
Core Fixed Income Portfolio | 22,634 | 26,464 | ||||||
Fixed Opportunity Portfolio | 136,709 | 189,274 | ||||||
U.S. Government Fixed Income Portfolio | 137,538 | 125,825 | ||||||
Inflation Protected Portfolio | 63,565 | 67,872 | ||||||
U.S. Corporate Fixed Income Portfolio | 80,256 | 93,297 | ||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 22,386 | 23,505 | ||||||
Short-Term Municipal Portfolio | 2,992 | 3,753 | ||||||
Intermediate Municipal Portfolio | 60,165 | 74,391 | ||||||
Intermediate Municipal II Portfolio | 8,661 | 12,625 |
The aggregate cost of purchases and proceeds from sales of long-term U.S. Government securities for the period ending December 31, 2014 were as follows (amounts in thousands):
Portfolio | Purchases | Sales | ||||||
Institutional Growth Portfolio | $ | 314,750 | $ | 325,637 | ||||
Commodity Portfolio | 179,335 | 133,304 | ||||||
Core Fixed Income Portfolio | 11,226 | 17,317 | ||||||
U.S. Government Fixed Income Portfolio | 137,538 | 125,825 | ||||||
Inflation Protected Portfolio | 63,565 | — | ||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 18,516 | 19,808 |
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
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 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 2011 – 2013, 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 | 509,999 | 112,097 | (5,703 | ) | 106,394 | |||||||||||
Institutional Value Portfolio | 836,708 | 162,346 | (8,707 | ) | 153,639 | |||||||||||
Growth Portfolio | 565,793 | 276,377 | (2,374 | ) | 274,003 | |||||||||||
Institutional Growth Portfolio | 1,050,402 | 358,817 | (5,038 | ) | 353,779 | |||||||||||
Small Cap Mid–Cap Portfolio | 88,525 | 28,791 | (2,976 | ) | 25,815 | |||||||||||
Institutional Small Cap–Mid Cap Portfolio | 151,049 | 48,621 | (3,304 | ) | 45,317 | |||||||||||
Real Estate Portfolio | 127,166 | 30,710 | (2 | ) | 30,708 | |||||||||||
International Portfolio | 1,222,407 | 158,496 | (77,991 | ) | 80,505 | |||||||||||
Institutional International Portfolio | 2,778,603 | 261,459 | (180,959 | ) | 80,500 | |||||||||||
Emerging Markets Portfolio | 1,911,398 | 81,804 | (211,126 | ) | (129,322 | ) | ||||||||||
Core Fixed Income Portfolio | 103,026 | 2,000 | (453 | ) | 1,547 | |||||||||||
Fixed Opportunity Portfolio | 800,833 | 12,104 | (28,394 | ) | (16,290 | ) | ||||||||||
U.S. Government Fixed Income Portfolio | 267,928 | 4,717 | (353 | ) | 4,364 | |||||||||||
Inflation Protected Portfolio | 510,210 | 4,138 | (5,578 | ) | (1,440 | ) | ||||||||||
U.S. Corporate Fixed Income Portfolio | 242,210 | 5,251 | (1,756 | ) | 3,495 | |||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 301,094 | 5,276 | (1,236 | ) | 4,040 | |||||||||||
Short-Term Municipal Portfolio | 20,718 | 274 | (17 | ) | 257 | |||||||||||
Intermediate Municipal Portfolio | 403,358 | 15,412 | (4,929 | ) | 10,483 | |||||||||||
Intermediate Municipal II Portfolio | 73,551 | 2,834 | (18 | ) | 2,816 |
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
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 accretion methods for market discount.
B. Tax Characteristics of Distributions Paid
The tax characteristics of distributions paid during the fiscal year ending June 30, 2014 was as follows (amounts in thousands):
Distributions Paid From: | Total Taxable Distributions | Tax-Exempt Distributions | Total Distributions Paid* | |||||||||||||||||
Year Ended June 30, 2014 | Ordinary Income | Net Long Term Gains | ||||||||||||||||||
Value Portfolio | $ | 15,771 | $ | — | $ | 15,771 | $ | — | $ | 15,771 | ||||||||||
Institutional Value Portfolio | 66,819 | 99,907 | 166,726 | — | 166,726 | |||||||||||||||
Growth Portfolio | 8,842 | — | 8,842 | — | 8,842 | |||||||||||||||
Institutional Growth Portfolio | 33,110 | 89,019 | 122,129 | — | 122,129 | |||||||||||||||
Small Cap–Mid Cap Portfolio | 422 | — | 422 | — | 422 | |||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | 5,542 | 22,572 | 28,114 | — | 28,114 | |||||||||||||||
Real Estate Portfolio | 1,564 | — | 1,564 | — | 1,564 | |||||||||||||||
International Portfolio | 51,194 | 4,110 | 55,304 | — | 55,304 | |||||||||||||||
Institutional International Portfolio | 120,895 | 73,376 | 194,271 | — | 194,271 | |||||||||||||||
Emerging Markets Portfolio | 25,805 | — | 25,805 | — | 25,805 | |||||||||||||||
Core Fixed Income Portfolio | 2,561 | 430 | 2,991 | — | 2,991 | |||||||||||||||
Fixed Opportunity Portfolio | 49,569 | 15,203 | 64,772 | — | 64,772 | |||||||||||||||
U.S. Government Fixed Income Portfolio | 3,179 | 786 | 3,965 | — | 3,965 | |||||||||||||||
Inflation Protected Portfolio | 3,240 | — | 3,240 | — | 3,240 | |||||||||||||||
U.S. Corporate Fixed Income Portfolio | 7,699 | 3,116 | 10,815 | — | 10,815 | |||||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 7,656 | — | 7,656 | — | 7,656 | |||||||||||||||
Short-Term Municipal Portfolio | — | 44 | 44 | 266 | 310 | |||||||||||||||
Intermediate Municipal Portfolio | 2 | — | 2 | 10,643 | 10,645 | |||||||||||||||
Intermediate Municipal II Portfolio | — | 226 | 226 | 1,611 | 1,837 |
* | Total distributions paid may differ from what appears in the Statements of Changes in Net Assets because dividends for tax purposes are recognized when actually paid. The Portfolios may utilize equalization accounting for tax purposes and designate earnings and profits, including net realized gains distributed to shareholders on redemptions of shares, as part of the dividends paid deduction for income tax purposes. |
Amounts designated as “—” are $0 or have been rounded to $0.
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
C. Components of Accumulated Earnings
As of June 30, 2014, 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 | $ | 766 | $ | — | $ | 766 | $ | — | $ | (63,828 | ) | $ | 129,833 | $ | 66,771 | |||||||||||||
Institutional Value Portfolio | 17,557 | 59,896 | 77,453 | — | — | 198,971 | 276,424 | |||||||||||||||||||||
Growth Portfolio | 336 | — | 336 | — | (5,296 | ) | 276,827 | 271,867 | ||||||||||||||||||||
Institutional Growth Portfolio | 8,111 | 62,050 | 70,161 | — | — | 333,297 | 403,458 | |||||||||||||||||||||
Small Cap–Mid Cap Portfolio | 33 | — | 33 | — | (27,376 | ) | 29,052 | 1,709 | ||||||||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | 340 | 13,578 | 13,918 | — | — | 47,803 | 61,721 | |||||||||||||||||||||
Real Estate Portfolio | 3,599 | 369 | 3,968 | — | — | 22,758 | 26,726 | |||||||||||||||||||||
International Portfolio | 6,534 | 138,945 | 145,479 | — | — | 296,010 | 441,489 | |||||||||||||||||||||
Institutional International Portfolio | 42,675 | 210,279 | 252,954 | — | — | 452,523 | 705,477 | |||||||||||||||||||||
Emerging Markets Portfolio | 27,318 | 6,217 | 33,535 | — | — | 104,769 | 138,304 | |||||||||||||||||||||
Core Fixed Income Portfolio | 253 | — | 253 | (208 | ) | (284 | ) | 1,587 | 1,348 | |||||||||||||||||||
Fixed Opportunity Portfolio | 10,299 | 8,495 | 18,794 | — | — | 30,630 | 49,424 | |||||||||||||||||||||
U.S. Government Fixed Income Portfolio | 330 | — | 330 | (273 | ) | (614 | ) | 1,762 | 1,205 | |||||||||||||||||||
Inflation Protected Portfolio | 3,336 | — | 3,336 | (1,848 | ) | — | 9,683 | 11,171 | ||||||||||||||||||||
U.S. Corporate Fixed Income Portfolio | 674 | — | 674 | (541 | ) | (70 | ) | 6,627 | 6,690 | |||||||||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 762 | — | 762 | (629 | ) | (5,555 | ) | 3,058 | (2,364 | ) | ||||||||||||||||||
Short-Term Municipal Portfolio | 21 | 4 | 25 | (18 | ) | — | 382 | 389 | ||||||||||||||||||||
Intermediate Municipal Portfolio | 958 | — | 958 | (787 | ) | (11,311 | ) | 12,577 | 1,437 | |||||||||||||||||||
Intermediate Municipal II Portfolio | 152 | — | 152 | (127 | ) | (59 | ) | 2,966 | 2,932 |
D. Capital Loss Carryforwards
As of their tax year ending June 30, 2014, the following Portfolios had capital loss carryforwards (“CLCFs”) as summarized below (amounts in thousands):
CLCFs subject to expiration:
Portfolio | Expires 2018 | Expires 2019 | Total | |||||||||
Value Portfolio | $ | 63,828 | $ | — | $ | 63,828 | ||||||
Growth Portfolio | 5,296 | — | 5,296 | |||||||||
Small Cap–Mid Cap Portfolio | 27,376 | — | 27,376 | |||||||||
Intermediate Municipal Portfolio | 1,229 | 9,713 | 10,942 |
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CLCFs not subject to expiration:
Portfolio | Short-Term Amount | Long-Term Amount | Total | |||||||||
Core Fixed Income Portfolio | $ | 222 | $ | 34 | $ | 256 | ||||||
U.S. Government Fixed Income Portfolio | 434 | — | 434 | |||||||||
U.S. Corporate Fixed Income Portfolio | 70 | — | 70 | |||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 1,865 | 3,035 | 4,900 | |||||||||
Intermediate Municipal II Portfolio | 13 | — | 13 |
CLCFs that are not subject to expiration must be utilized before those that are subject to expiration. During the year ending June 30, 2014, the Portfolios utilized CLCFs as follows (amounts in thousands):
Portfolio | Total | |||
Value Portfolio | $ | 97,444 | ||
Growth Portfolio | 72,292 | |||
Small Cap–Mid Cap Portfolio | 21,857 | |||
International Portfolio | 20,181 | |||
Intermediate Municipal Portfolio | 984 |
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, 2015 (amounts in thousands):
Portfolio | Post-October Capital Losses | |||
Core Fixed Income Portfolio | $ | 28 | ||
U.S. Government Fixed Income Portfolio | 180 | |||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 655 | |||
Intermediate Municipal Portfolio | 369 | |||
Intermediate Municipal II Portfolio | 46 |
F. Book-To-Tax Differences
Distributions are based on amounts calculated in accordance with applicable federal tax regulations, which may differ from GAAP. To the extent these differences are permanent in nature (e.g., net operating losses, reclassification of bond discount and premium, treatment of gains (losses) relating to foreign currency transactions and differing treatment of income relating to swap agreements), such amounts are reclassified within the capital accounts based on their federal tax-basis treatment; temporary differences do not require reclassifications.
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
On the Statements of Assets and Liabilities, as a result of permanent book-to-tax differences, reclassification adjustments were made as follows (amounts in thousands):
Portfolio | Accumulated Net Investment Income/(Distributions in Excess of Net Investment Income) | Accumulated Net Realized Gains/(Losses) | Paid-In Capital | |||||||||
Value Portfolio | $ | (188 | ) | $ | 188 | $ | — | |||||
Institutional Value Portfolio | (221 | ) | 221 | — | ||||||||
Growth Portfolio | (25 | ) | 25 | — | ||||||||
Institutional Growth Portfolio | (1,061 | ) | 1,061 | — | ||||||||
Small Cap–Mid Cap Portfolio | 6 | (6 | ) | — | ||||||||
Real Estate Portfolio | (6 | ) | 6 | — | ||||||||
International Portfolio | 863 | (863 | ) | — | ||||||||
Institutional International Portfolio | 371 | (371 | ) | — | ||||||||
Emerging Markets Portfolio | 167 | (167 | ) | — | ||||||||
Core Fixed Income Portfolio | 352 | (352 | ) | — | ||||||||
Fixed Opportunity Portfolio | 61 | (50 | ) | (11 | ) | |||||||
Inflation Protected Portfolio | 24 | — | (24 | ) | ||||||||
U.S. Corporate Fixed Income Portfolio | 11 | (11 | ) | — | ||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 2,271 | (2,271 | ) | — | ||||||||
Intermediate Municipal Portfolio | (36 | ) | 36 | — |
G. 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, 2014 was $916,233, resulting in accumulated net unrealized depreciation of $2,179, consisting of $80,375 in gross unrealized appreciation and $82,554 in gross unrealized depreciation.
The tax characteristics of distributions paid during the tax years ending December 31, 2014 and December 31, 2013 were as follows (amounts in thousands):
Distributions Paid From: | Total Taxable Distributions | Tax-Exempt Distributions | Total Distributions Paid* | |||||||||||||||||
Year Ended December 31, 2014 | Ordinary Income | Net Long Term Gains | ||||||||||||||||||
Commodity Portfolio | $ | 8,151 | $ | 3,440 | $ | 11,591 | $ | — | $ | 11,591 |
* | Total distributions paid may differ from the Statements 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.
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Notes to Financial Statements (continued) — December 31, 2014 (Unaudited)
Distributions Paid From: | Total Taxable Distributions | Tax-Exempt Distributions | Total Distributions Paid* | |||||||||||||||||
Year Ended December 31, 2013 | Ordinary Income | Net Long Term Gains | ||||||||||||||||||
Commodity Portfolio | $ | 8,445 | $ | — | $ | 8,445 | $ | — | $ | 8,445 |
* | Total distributions paid may differ from what appears in the Statements of Changes in Net Assets because dividends for tax purposes are recognized when actually paid. 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 part of the dividends paid deduction for income tax purposes. |
Amounts designated as “—” are $0 or have been rounded to $0.
As of December 31, 2014, 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 | $ | 4,328 | $ | 417 | $ | 4,745 | $ | (4,062 | ) | $ | (15,546 | ) | $ | (93,706 | ) | $ | (108,569 | ) |
Amounts designated as “—” are $0 or have been rounded to $0.
At December 31, 2014, the Commodity Portfolio did not have any CLCFs available to offset future capital gains.
At December 31, 2014, the Commodity Portfolio had deferred losses, which will be treated as arising on the first day of the tax year ending December 31, 2015.
Portfolio | Post-October Capital Losses | |||
Commodity Portfolio | $ | 15,546 |
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.
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Notes to Financial Statements (concluded) — December 31, 2014 (Unaudited)
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, 2014.
Effective November 3, 2014, the Board of the Trustees of the Trust approved an interim agreement that provided for the engagement of City of London Investment Management Company Limited (“City of London”) as an additional investment advisory organization (“Specialist Manager”) to manage a portion of the assets of The Fixed Income Opportunity Portfolio beginning on that date. In addition, on December 29, 2014, the Trust submitted to a vote of shareholders (i) a proposed Portfolio Management Agreement between the Trust and City of London with regard to City of London’s fee for its portfolio management services to The Fixed Income Opportunity Portfolio; and (ii) an additional proposed Portfolio Management Agreement between the Trust and City of London with respect to The International Equity Portfolio, The Institutional International Equity Portfolio, and the Emerging Markets Portfolio. Such agreements became effective January 23, 2015.
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Additional Information — December 31, 2014 (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, 2014, the following actions were taken by the shareholders of certain of the Portfolios.
SPECIAL MEETING OF THE SHAREHOLDERS — JULY 18, 2014
A special meeting of shareholders of each of The Value Equity Portfolio, The Institutional Value Equity Portfolio, The Growth Equity Portfolio and The Institutional Growth Equity Portfolio was held on July 18, 2014. At the July 18, 2014 meeting, shareholders of The Value Equity Portfolio, The Institutional Value Equity Portfolio, The Growth Equity Portfolio and The Institutional Growth Equity Portfolio approved an amendment to the portfolio management agreements between the Trust and Parametric Portfolio Associates LLC.
1. Approval of an amendment to the portfolio management agreement between the Trust, on behalf of The Value Equity Portfolio, and Parametric Portfolio Associates LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Value Equity Portfolio | 35,294,489.347 | 33,467,330.535 | 94.8823 | % | 33,467,330.535 | 100 | % |
2. Approval of an amendment to the portfolio management agreement between the Trust, on behalf of The Institutional Value Equity Portfolio, and Parametric Portfolio Associates LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Institutional Value Equity Portfolio | 69,930,990.109 | 42,839,497.971 | 61.259 | % | 42,839,497.971 | 100 | % |
3. Approval of an amendment to the portfolio management agreement between the Trust, on behalf of The Growth Equity Portfolio, and Parametric Portfolio Associates LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Growth Equity Portfolio | 41,066,751.487 | 35,110,827.770 | 85.496 | % | 35,110,827.770 | 100 | % |
4. Approval of an amendment to the portfolio management agreement between the Trust, on behalf of The Institutional Growth Equity Portfolio, and Parametric Portfolio Associates LLC;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Institutional Growth Equity Portfolio | 86,355,736.363 | 52,875,379.599 | 61.229 | % | 52,875,379.599 | 100 | % |
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Additional Information (continued) — December 31, 2014 (Unaudited)
SPECIAL MEETING OF THE SHAREHOLDERS — AUGUST 29, 2014
A special meeting of shareholders of each of The Fixed Income Opportunity Portfolio was held on August 29, 2014. At the August 29, 2014 meeting, shareholders of The Fixed Income Opportunity Portfolio approved an amendment to the portfolio management agreements between the Trust and Western Asset Management Company. The results of the August 29, 2014 meeting are presented below:
1. Approval of an amendment to the portfolio management agreement between the Trust, on behalf of The Fixed Income Portfolio, and Western Asset Management Company;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
The Fixed Income Opportunity Portfolio | 104,788,669.742 | 67,558,799.281 | 64.471 | % | 67,558,799.81 | 100 | % |
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, 2014 through December 31, 2014.
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.
Beginning Account Value, July 1, 2014 | Ending Account Value, December 31, 2014 | Expenses Paid During Period2 | Annualized Expense Ratio | |||||||||||||||||||||
Value Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,046.40 | $ | 1.55 | 0.30 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.69 | $ | 1.53 | 0.30 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,046.40 | $ | 1.55 | 0.30 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.69 | $ | 1.53 | 0.30 | % | ||||||||||||||||
Institutional Value Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,045.10 | $ | 1.49 | 0.29 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.74 | $ | 1.48 | 0.29 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,045.80 | $ | 1.50 | 0.29 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.74 | $ | 1.48 | 0.29 | % | ||||||||||||||||
Growth Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,069.80 | $ | 1.57 | 0.30 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.69 | $ | 1.53 | 0.30 | % |
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Additional Information (continued) — December 31, 2014 (Unaudited)
Beginning Account Value, July 1, 2014 | Ending Account Value, December 31, 2014 | Expenses Paid During Period2 | Annualized Expense Ratio | |||||||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,069.90 | $ | 1.57 | 0.30 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.69 | $ | 1.53 | 0.30 | % | ||||||||||||||||
Institutional Growth Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,067.70 | $ | 1.46 | 0.28 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,067.00 | $ | 1.46 | 0.28 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | ||||||||||||||||
Small Cap-Mid Cap Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,029.50 | $ | 4.04 | 0.79 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,021.22 | $ | 4.02 | 0.79 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,029.50 | $ | 4.04 | 0.79 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,021.22 | $ | 4.02 | 0.79 | % | ||||||||||||||||
Institutional Small Cap- Mid Cap Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,030.10 | $ | 4.04 | 0.79 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,021.22 | $ | 4.02 | 0.79 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,030.10 | $ | 4.04 | 0.79 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,021.22 | $ | 4.02 | 0.79 | % | ||||||||||||||||
Real Estate Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,113.40 | $ | 4.10 | 0.77 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,021.32 | $ | 3.92 | 0.77 | % | ||||||||||||||||
Commodity Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 782.10 | $ | 3.01 | 0.67 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,021.83 | $ | 3.41 | 0.67 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 782.80 | $ | 3.01 | 0.67 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,021.83 | $ | 3.41 | 0.67 | % | ||||||||||||||||
International Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 907.10 | $ | 1.92 | 0.40 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.19 | $ | 2.04 | 0.40 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 907.10 | $ | 1.92 | 0.40 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.19 | $ | 2.04 | 0.40 | % | ||||||||||||||||
Institutional International Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 906.20 | $ | 1.73 | 0.36 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.39 | $ | 1.84 | 0.36 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 907.00 | $ | 1.73 | 0.36 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.39 | $ | 1.84 | 0.36 | % | ||||||||||||||||
Emerging Markets Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 898.00 | $ | 2.77 | 0.58 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,022.28 | $ | 2.96 | 0.58 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 897.90 | $ | 2.77 | 0.58 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,022.28 | $ | 2.96 | 0.58 | % | ||||||||||||||||
Core Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,014.70 | $ | 1.27 | 0.25 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.95 | $ | 1.28 | 0.25 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,014.70 | $ | 1.27 | 0.25 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.95 | $ | 1.28 | 0.25 | % | ||||||||||||||||
Fixed Opportunity Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 971.80 | $ | 1.69 | 0.34 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.49 | $ | 1.73 | 0.34 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 971.80 | $ | 1.64 | 0.33 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.49 | $ | 1.73 | 0.34 | % | ||||||||||||||||
U.S. Government Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,019.30 | $ | 0.81 | 0.16 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,024.40 | $ | 0.82 | 0.16 | % |
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Additional Information (continued) — December 31, 2014 (Unaudited)
Beginning Account Value, July 1, 2014 | Ending Account Value, December 31, 2014 | Expenses Paid During Period2 | Annualized Expense Ratio | |||||||||||||||||||||
Inflation Protected Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 979.90 | $ | 0.90 | 0.18 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 978.90 | $ | 0.90 | 0.18 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % | ||||||||||||||||
U.S. Corporate Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,009.70 | $ | 1.62 | 0.32 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.59 | $ | 1.63 | 0.32 | % | ||||||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,016.80 | $ | 0.86 | 0.17 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,024.35 | $ | 0.87 | 0.17 | % | ||||||||||||||||
Short-Term Municipal Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 999.70 | $ | 1.46 | 0.29 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.74 | $ | 1.48 | 0.29 | % | ||||||||||||||||
Intermediate Municipal Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,010.80 | $ | 1.32 | 0.26 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.89 | $ | 1.33 | 0.26 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,010.80 | $ | 1.32 | 0.26 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.89 | $ | 1.33 | 0.26 | % | ||||||||||||||||
Intermediate Muni II | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,011.60 | $ | 1.57 | 0.31 | % | ||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.64 | $ | 1.58 | 0.31 | % | ||||||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,011.60 | $ | 1.57 | 0.31 | % | |||||||||||||||
Hypothetical1 | $ | 1,000.00 | $ | 1,023.64 | $ | 1.58 | 0.31 | % |
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). |
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, 2014 qualify for the corporate dividend received deduction for the following Portfolio:
Portfolio | Dividends Received Deduction | |||
Commodity Portfolio | 32.66 | % |
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 | % |
The Portfolio intends to designate the maximum amount allowable as taxed at a maximum rate of 23.8%. Complete information will be reported in conjunction with your 2014 Form 1099-DIV.
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Additional Information (continued) — December 31, 2014 (Unaudited)
5. ACCESS TO QUARTERLY HOLDINGS
A complete schedule of each Portfolio’s portfolio holdings for the first and third fiscal quarter 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 | 12.6 | % | ||
Consumer Staples | 7.0 | % | ||
Energy | 10.3 | % | ||
Energy Equipment & Services | 0.0 | % | ||
Financials | 29.6 | % | ||
Health Care | 9.3 | % | ||
Industrials | 9.4 | % | ||
Information Technology | 12.0 | % | ||
Machinery | 0.0 | % | ||
Materials | 4.5 | % | ||
Telecommunication Services | 1.8 | % | ||
Utilities | 3.2 | % | ||
Other | 0.3 | % | ||
Total | 100.0 | % |
Institutional Value Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 11.9 | % | ||
Consumer Staples | 7.2 | % | ||
Energy | 10.5 | % | ||
Energy Equipment & Services | 0.0 | % | ||
Financials | 29.8 | % | ||
Health Care | 8.9 | % | ||
Industrials | 9.4 | % | ||
Information Technology | 12.5 | % | ||
Machinery | 0.0 | % | ||
Materials | 4.3 | % | ||
Telecommunication Services | 1.8 | % | ||
Utilities | 3.1 | % | ||
Other | 0.6 | % | ||
Total | 100.0 | % |
Growth Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 17.2 | % | ||
Consumer Staples | 9.2 | % | ||
Energy | 3.9 | % | ||
Financials | 15.3 | % | ||
Health Care | 17.1 | % | ||
Industrials | 5.7 | % | ||
Information Technology | 27.2 | % | ||
Materials | 2.7 | % | ||
Pharmaceuticals | 0.5 | % | ||
Other | 1.2 | % | ||
Total | 100.0 | % |
Institutional Growth Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 16.8 | % | ||
Consumer Staples | 8.5 | % | ||
Energy | 3.8 | % | ||
Financials | 15.1 | % | ||
Health Care | 16.9 | % | ||
Industrials | 5.7 | % | ||
Information Technology | 26.1 | % | ||
Materials | 2.1 | % | ||
Pharmaceuticals | 0.6 | % | ||
Telecommunication Services | 0.1 | % | ||
Transportation | 0.0 | % | ||
Other | 4.3 | % | ||
Total | 100.0 | % |
254
HC CAPITAL TRUST
Additional Information (continued) — December 31, 2014 (Unaudited)
Small Capitalization Portfolio
Security Allocation | Percentage of Value | |||
Biotechnology | 0.1 | % | ||
Consumer Discretionary | 10.2 | % | ||
Consumer Staples | 0.9 | % | ||
Electrical Equipment | 0.0 | % | ||
Electronic Equipment, Instruments & Components | 0.0 | % | ||
Energy | 3.6 | % | ||
Energy Equipment & Services | 0.0 | % | ||
Financials | 22.7 | % | ||
Health Care | 13.4 | % | ||
Health Care Equipment & Supplies | 0.1 | % | ||
Industrials | 15.3 | % | ||
Information Technology | 22.7 | % | ||
Insurance | 0.2 | % | ||
Machinery | 0.0 | % | ||
Materials | 6.0 | % | ||
Metals & Mining | 0.0 | % | ||
Software | 0.0 | % | ||
Specialty Retail | 0.0 | % | ||
Telecommunication Services | 1.1 | % | ||
Trading Companies & Distributors | 0.0 | % | ||
Utilities | 1.6 | % | ||
Other | 2.1 | % | ||
Total | 100.0 | % |
Institutional Small Capitalization Portfolio
Security Allocation | Percentage of Value | |||
Biotechnology | 0.2 | % | ||
Consumer Discretionary | 10.6 | % | ||
Consumer Staples | 0.9 | % | ||
Electronic Equipment, Instruments & Components | 0.0 | % | ||
Energy | 3.4 | % | ||
Energy Equipment & Services | 0.0 | % | ||
Financials | 21.1 | % | ||
Health Care | 14.2 | % | ||
Health Care Equipment & Supplies | 0.1 | % | ||
Industrials | 15.1 | % | ||
Information Technology | 22.1 | % | ||
Machinery | 0.0 | % | ||
Materials | 6.0 | % | ||
Metals & Mining | 0.0 | % | ||
Software | 0.0 | % | ||
Telecommunication Services | 0.8 | % | ||
Utilities | 2.0 | % | ||
Other | 3.5 | % | ||
Total | 100.0 | % |
Real Estate Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 6.6 | % | ||
Consumer Staples | 1.6 | % | ||
Financials | 86.7 | % | ||
Health Care | 2.9 | % | ||
Materials | 0.9 | % | ||
Telecommunication Services | 1.3 | % | ||
Other | 0.0 | % | ||
Total | 100.0 | % |
Commodity Portfolio
Security Allocation | Percentage of Value | |||
Energy | 32.8 | % | ||
Financials | 16.0 | % | ||
Industrials | 2.1 | % | ||
Materials | 21.5 | % | ||
Telecommunication Services | 0.1 | % | ||
Other | 27.5 | % | ||
Total | 100.0 | % |
International Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 12.5 | % | ||
Consumer Staples | 8.7 | % | ||
Energy | 7.9 | % | ||
Financials | 21.9 | % | ||
Health Care | 9.4 | % | ||
Industrials | 15.4 | % | ||
Information technology | 0.1 | % | ||
Information Technology | 5.7 | % | ||
Materials | 8.5 | % | ||
Telecommunication Services | 7.7 | % | ||
Utilities | 1.8 | % | ||
Other | 0.4 | % | ||
Total | 100.0 | % |
255
HC CAPITAL TRUST
Additional Information (continued) — December 31, 2014 (Unaudited)
Institutional International Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 12.6 | % | ||
Consumer Staples | 8.7 | % | ||
Energy | 7.7 | % | ||
Financials | 20.9 | % | ||
Health Care | 9.7 | % | ||
Industrials | 15.3 | % | ||
Information technology | 0.1 | % | ||
Information Technology | 5.3 | % | ||
Materials | 8.5 | % | ||
Telecommunication Services | 7.8 | % | ||
Utilities | 2.2 | % | ||
Other | 1.2 | % | ||
Total | 100.0 | % |
Emerging Markets Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 7.9 | % | ||
Consumer Staples | 3.9 | % | ||
Energy | 8.9 | % | ||
Financials | 35.9 | % | ||
Health Care | 0.4 | % | ||
Industrials | 7.8 | % | ||
Information Technology | 13.6 | % | ||
Materials | 9.9 | % | ||
Telecommunication Services | 5.7 | % | ||
Thrifts & Mortgage Finance | 0.1 | % | ||
Utilities | 4.7 | % | ||
Other | 1.2 | % | ||
Total | 100.0 | % |
Core Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 2.4 | % | ||
Consumer Staples | 0.8 | % | ||
Energy | 3.0 | % | ||
Financials | 27.5 | % | ||
Health Care | 2.2 | % | ||
Industrials | 3.5 | % | ||
Information Technology | 2.4 | % | ||
Materials | 0.9 | % | ||
Telecommunication Services | 1.5 | % | ||
Utilities | 0.8 | % | ||
Other | 55.0 | % | ||
Total | 100.0 | % |
Fixed Opportunity Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 14.7 | % | ||
Consumer Staples | 4.8 | % | ||
Energy | 15.9 | % | ||
Financials | 21.9 | % | ||
Health Care | 5.9 | % | ||
Industrials | 6.1 | % | ||
Information Technology | 3.9 | % | ||
Materials | 7.1 | % | ||
Telecommunication Services | 8.0 | % | ||
Utilities | 3.0 | % | ||
Other | 8.7 | % | ||
Total | 100.0 | % |
U.S. Government Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Treasury | 79.1 | % | ||
Agency | 7.4 | % | ||
Corporate | 0.1 | % | ||
Other | 13.4 | % | ||
Total | 100.0 | % |
Inflation Protected Securities Portfolio
Security Allocation | Percentage of Value | |||
Treasury | 89.4 | % | ||
Other | 10.6 | % | ||
Total | 100.0 | % |
U.S. Corporate Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 6.5 | % | ||
Consumer Staples | 2.4 | % | ||
Energy | 8.5 | % | ||
Financials | 49.9 | % | ||
Health Care | 7.1 | % | ||
Industrials | 9.7 | % | ||
Information Technology | 6.6 | % | ||
Materials | 2.5 | % | ||
Telecommunication Services | 4.4 | % | ||
Utilities | 2.4 | % | ||
Other | 0.0 | % | ||
Total | 100.0 | % |
256
HC CAPITAL TRUST
Additional Information (continued) — December 31, 2014 (Unaudited)
U.S. Mortgage/Asset Backed Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Agency | 72.3 | % | ||
Mortgage | 5.0 | % | ||
Asset Backed Securities | 1.4 | % | ||
Other | 21.3 | % | ||
Total | 100.0 | % |
Short-Term Municipal Portfolio
Security Allocation | Percentage of Value | |||
Financials | 1.4 | % | ||
General | 7.4 | % | ||
General Obligation | 38.4 | % | ||
Higher Education | 11.0 | % | ||
Medical | 4.0 | % | ||
Power | 2.7 | % | ||
School District | 5.0 | % | ||
Transportation | 16.5 | % | ||
Utilities | 5.8 | % | ||
Water | 7.8 | % | ||
Other | 0.0 | % | ||
Total | 100.0 | % |
Intermediate Municipal Portfolio
Security Allocation | Percentage of Value | |||
Airport | 4.8 | % | ||
Development | 1.2 | % | ||
Education | 1.1 | % | ||
Facilities | 3.0 | % | ||
Financials | 13.0 | % | ||
General | 16.1 | % | ||
General Obligation | 8.1 | % | ||
Higher Education | 5.1 | % | ||
Medical | 4.7 | % | ||
Multi-Family Housing | 0.5 | % | ||
Nursing Homes | 0.3 | % | ||
Pollution | 1.7 | % | ||
Power | 5.9 | % | ||
School District | 2.8 | % | ||
Single Family Housing | 0.2 | % | ||
Student Loan | 1.3 | % | ||
Tobacco | 1.0 | % | ||
Tobacco Settlement | 2.3 | % | ||
Transportation | 10.2 | % | ||
Utilities | 6.0 | % | ||
Water | 10.2 | % | ||
Other | 0.5 | % | ||
Total | 100.0 | % |
Intermediate Municipal II Portfolio
Security Allocation | Percentage of Value | |||
Education | 4.0 | % | ||
Facilities | 6.4 | % | ||
Financials | 14.3 | % | ||
General | 8.0 | % | ||
General Obligation | 28.1 | % | ||
Higher Education | 3.8 | % | ||
Pollution | 2.2 | % | ||
Power | 1.6 | % | ||
School District | 10.9 | % | ||
Transportation | 4.3 | % | ||
Utilities | 5.9 | % | ||
Water | 10.5 | % | ||
Other | 0.0 | % | ||
Total | 100.0 | % |
257
HC CAPITAL TRUST
Additional Information (continued) — December 31, 2014 (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 twenty Portfolios, fifteen of which were managed by two or more Specialist Managers.1 Each Specialist Manager 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 of Trustees (the “Board”):
• | Approved continuation of certain Portfolio Management Agreements relating to certain Portfolios designed to invest primarily in international securities (“International Portfolios”) and other Portfolios that focus on the small and mid capitalization sector of the securities markets (“Small-Mid Cap Portfolios”); |
• | Approved new Portfolio Management Agreements with City of London Investment Management (“CLIM”) relating to four Portfolios; and |
• | Approved a new Portfolio Management Agreement and subsequent amendment to that Agreement with Western Asset Management Company (“WAMCO”) relating to The Fixed Income Opportunity Portfolio. |
Continuation of Certain Portfolio Management Agreements. The Portfolio Management Agreements relating to the International Portfolios and the Small-Mid Cap Portfolios (collectively, the “Continuing Agreements”) approved for continuance during the period are identified below, together with the Specialist Managers subject to review during the period.
Specialist Manager | International Portfolios | |
Artisan Partners Limited Partnership | The International Equity Portfolio The Institutional International Equity Portfolio | |
The Boston Company Asset Management, LLC | The Emerging Markets Portfolio | |
Capital Guardian Trust Company | The International Equity Portfolio The Institutional International Equity Portfolio | |
Causeway Capital Management, LLC | The International Equity Portfolio The Institutional International Equity Portfolio | |
Lazard Asset Management, LLC | The Institutional International Equity Portfolio | |
Wellington Management Company, LLP | The Real Estate Securities Portfolio The Commodity Returns Strategy Portfolio |
Specialist Manager | Small–Mid Cap Portfolios | |
Ariel Investments, LLC | The Small Capitalization–Mid Capitalization Equity Portfolio The Institutional Small Capitalization–Mid Capitalization Equity Portfolio |
1 | See Note 3. |
258
HC CAPITAL TRUST
Additional Information (continued) — December 31, 2014 (Unaudited)
Specialist Manager | Small–Mid Cap Portfolios | |
Cupps Capital Management Company, 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, LLC | 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 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 Mangers 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.
In approving the Continuing Agreements, the Board concluded that continuation of each of the Continuing Agreements was in the best interests of the respective Portfolios 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 and that shares of the respective Portfolios are generally available only to such clients. The Board also gave substantial weight to representations made 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 strategies, 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 Portfolio Management Agreements identified above 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 of each Specialist Manager in capturing the respective Portfolios’ desired asset classes as well as the Board’s assessment of each Specialist Manager’s ability to continue to capture such asset classes in the future. 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 impact of break-points and fee waivers afforded to the Portfolios, financial information about 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
259
HC CAPITAL TRUST
Additional Information (continued) — December 31, 2014 (Unaudited)
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 CLIM. During the period, the Board approved new Portfolio Management Agreements between the Trust and CLIM relating to each of The International Equity Portfolio, The Institutional International Equity Portfolio and The Emerging Markets Portfolio (collectively, the “International Portfolios”), as well as an interim and a final agreement with CLIM relating to The Fixed Income Opportunity Portfolio. The agreements relating to International Portfolios are referred to collectively as the “International Agreements,” and, together with the Agreements related to The Fixed Income Opportunity Portfolio, are referred to as the CLIM Agreements.
The following is a summary of the factors considered by the Board in approving the CLIM Agreements.
In approving the CLIM Agreements, the Board received information from CLIM regarding the strategies it implements by investing in asset class-specific closed-end funds (“CEF Strategies”) and information from the Adviser regarding the Adviser’s belief that implementation of the CEF Strategies in The Fixed Income Opportunity Portfolio and the International Portfolios (collectively, the “Affected Portfolios”) would, under certain market conditions, allow the Portfolios to benefit from volatility in the discounts at which closed-end fund may trade. With respect to the nature and quality of the services expected to be provided to the Affected Portfolios by CLIM, the Board gave considerable weight to the Adviser’s assessment of CLIM’s investment philosophy, investment management capabilities and its compliance framework, as well as the Adviser’s recommendation of CLIM, based on services provided by CLIM to other Hirtle Callaghan accounts and on the performance achieved by CLIM in relation to the performance of relevant broad-based securities indices and other benchmarks.
With respect to the fee schedules pursuant to which CLIM would be compensated for its services, the Board considered the fact that, under the CLIM Agreements, the rates at which advisory fees relating to assets allocated to CLIM would be calculated would, in some cases and under certain circumstances, be higher that the rates then being paid to the other Specialist Managers currently serving the Affected Portfolios and that, by investing in closed-end funds, the Affected Portfolios would incur certain indirect expenses in the form of the fees and expenses to which the closed-end funds are subject. The Board balanced the likelihood of increased expenses, however, against the potential that the Affected Portfolios would benefit by virtue of access to the CLIM Strategies and the fact that the overall levels of advisory fees and expenses experienced by the Affected Portfolios would depend upon the manner and extent to which assets of the Affected Portfolios are allocated by the Adviser to CLIM, as well as among their various Specialist Managers that provide services to the Affected Portfolios.
The Board was also informed with respect to CLIM’s financial position and the projected profitability of the relationships with the Affected Portfolios to CLIM. In considering this information, the Board gave substantial weight to information demonstrating that the rate at which CLIM was to be 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. The Board also was provided with data regarding overall advisory fees paid by funds with investment policies and objectives similar to those of the Affected Portfolios. The Board did not specifically rely on such information but based its conclusions on the facts and circumstances of the Trust. In concluding that approval of the CLIM Agreements was in the best interests of the Affected Portfolios, the Board was also informed that CLIM 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 CLIM Agreements, it was not expected that CLIM would benefit materially from its association with the Trust.
Approval of a New Portfolio Management Agreement and Amendment with WAMCO. During the period, the Board also approved a new Portfolio Management Agreement (the “WAMCO Agreement) and a subsequent
260
HC CAPITAL TRUST
Additional Information (concluded) — December 31, 2014 (Unaudited)
amendment (the “Amendment”) between the Trust and WAMCO relating to The Fixed Income Opportunity Portfolio (the “Portfolio”). The following is a summary of the factors considered by the Board in approving the WAMCO Agreement and the Amendment.
In approving the WAMCO Agreement, the Board received information from WAMCO regarding the fixed income strategies it implements as well as information from the Adviser regarding the Adviser’s belief that WAMCO would contribute to the achievement of the Portfolio’s investment objective. With respect to the nature and quality of the services expected to be provided to the Portfolio, the Board gave considerable weight to the Adviser’s recommendation that the Portfolio would benefit from access to WAMCO’s approach to fixed income investing. The Board also considered fact that WAMCO would not participate in the administration or distribution of shares of the Portfolio and that, other than advisory fees payable under the terms of the WAMCO Agreement, it was not expected that WAMCO would benefit materially from its association with the Trust. In concluding that approval of the WAMCO Agreement was in the best interests of the Portfolio, the Board was informed with respect to information about the performance of WAMCO’s Strategy in relation to the performance of relevant broad-based securities indices and the relevant investment universe.
With respect to the fee schedule pursuant to which WAMCO would be compensated for its services, the Board considered the fact that WAMCO had agreed to temporarily serve the Portfolio at a fee level that was significantly reduced from its standard fee in order to allow the WAMCO Agreement to be implemented immediately pursuant to the Trust’s “Manager of Manager” exemptive order, provided that the Trust seek shareholder approval of a subsequent amendment to the WAMCO Agreement implementing WAMCO’s standard, higher, fee schedule. The Board noted that WAMCO’s standard fee, as represented by the Amendment, was higher than any of the fees then being paid by the Portfolio to any of its then-existing Specialist Managers. The Board was, therefore, aware of the fact that full implementation of the proposed engagement would result in an increase in the overall advisory fees paid by the Portfolio but balanced such increase against the advantage to the Portfolios expected to be achieved by virtue of access to WAMCO’s management. The Board also recognized that the overall levels of advisory fees experienced by the Portfolio would depend upon the manner in which the assets of the Portfolio were allocated among their various Specialist Managers by the Adviser.
The Board was also informed with respect to WAMCO’s financial position and the projected profitability of the relationship with the Portfolio to WAMCO 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 WAMCO was to be compensated under the WAMCO Agreement was determined as a result of arms-length negotiations conducted by the officers of the Trust and the Adviser.
261
HC CAPITAL TRUST
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 | Counsel | |
HC Capital Solutions Five Tower Bridge 300 Barr Harbor Drive, Suite 500 West Conshohocken, PA 19428 | Stradley Ronon Stevens & Young, LLP 2005 Market Street, Suite 2600 Philadelphia, PA 19103-7018 | |
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 | 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.
2/15
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 9, 2015 |
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 9, 2015 |
By (Signature and Title) | /s/ Robert J. Zion | |
Robert J. Zion, Principal Executive Officer |
Date: | March 9, 2015 |