Table of Contents
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, 2010
Table of Contents
Item 1. | Reports to Stockholders. |
Table of Contents
HC CAPITAL TRUST | Semi-Annual Report |
December 31, 2010
We are pleased to present the December 31, 2010 Semi-Annual 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”), which are selected by the Advisor, and, are approved by and under the general supervision of, the Trust’s Board of Trustees.
The Portfolios |
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 Equity Portfolio, seeks long-term capital appreciation by investing in a diversified portfolio of equity securities of small-capitalization companies.
The Institutional Small 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 Related Securities Portfolio, seeks capital appreciation and current income by investing in a diversified portfolio of commodity-related instruments.
The International Equity Portfolio, seeks total return by investing in a diversified portfolio of equity securities of companies based in countries other than the United States of America.
The Institutional International Equity Portfolio, seeks total return by investing in a diversified portfolio of equity securities of companies based in countries other than the United States of America.
The Emerging Markets Portfolio, seeks total return by investing in a diversified portfolio of securities issued by companies domiciled, or doing a substantial portion of their business, in countries with a developing or emerging economy or securities market.
The Core Fixed Income Portfolio, seeks current income by investing in a diversified portfolio of debt securities, including U.S. and non-U.S. government securities, corporate debt securities, and asset-backed issues.
The Fixed Income Portfolio, seeks current income by investing in a diversified portfolio of debt securities, including U.S. and non-U.S. government securities, corporate debt securities, and asset-backed issues.
The Fixed Income Opportunity Portfolio, seeks to achieve above-average total return by investing in high yield securities (commonly referred to as “junk bonds”).
The U.S. Government Fixed Income Securities Portfolio, seeks to provide a moderate and sustainable level of current income, consistent with the preservation of capital by investing primarily in a diversified portfolio of U.S. Treasury and government related fixed income securities.
The U.S. Corporate Fixed Income Securities Portfolio, seeks to provide a moderate and sustainable level of current income, consistent with the preservation of capital by investing primarily in a diversified portfolio of investment grade fixed income securities issued by U.S. corporations.
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio, seeks to provide a moderate and sustainable level of current income, consistent with the preservation of capital by investing primarily in a diversified portfolio of publicly issued mortgage and asset backed securities.
The Short-Term Municipal Bond Portfolio, seeks current income exempt from Federal income tax, consistent with preservation of capital, by investing primarily in securities issued by municipalities and related securities.
The Intermediate Term Municipal Bond Portfolio, seeks current income exempt from Federal income tax by investing in securities issued by municipalities and related entities.
The Intermediate Term Municipal Bond II Portfolio, seeks current income exempt from Federal income tax by investing in securities issued by municipalities and related entities.
Table of Contents
HC CAPITAL TRUST | Semi-Annual Report |
December 31, 2010
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Table of Contents
The Value Equity Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks — 98.24% |
| |||||||
AllianceBernstein L.P. — 40.00% |
| |||||||
Aerospace & Defense — 1.38% |
| |||||||
95,700 | Northrop Grumman Corp. | $ | 6,199 | |||||
21,100 | Raytheon Co. | 978 | ||||||
7,177 | ||||||||
Agricultural Products — 1.85% |
| |||||||
22,100 | Agrium, Inc. | 2,028 | ||||||
33,400 | Archer-Daniels-Midland Co. | 1,005 | ||||||
60,600 | Bunge Ltd. | 3,970 | ||||||
19,300 | CF Industries Holdings, Inc. | 2,608 | ||||||
9,611 | ||||||||
Airlines — 0.56% |
| |||||||
229,400 | Delta Air Lines, Inc. (a) | 2,890 | ||||||
Aluminum — 0.44% |
| |||||||
148,900 | Alcoa, Inc. | 2,292 | ||||||
Apparel Retail — 0.53% |
| |||||||
123,900 | The Gap, Inc. | 2,743 | ||||||
Auto Parts & Equipment — 0.26% |
| |||||||
13,500 | Lear Corp. (a) | 1,333 | ||||||
Automobile Manufacturers — 0.66% |
| |||||||
155,200 | Ford Motor Co. (a) | 2,606 | ||||||
22,300 | General Motors Co. (a) | 822 | ||||||
3,428 | ||||||||
Biotechnology — 0.62% |
| |||||||
89,200 | Gilead Sciences, Inc. (a) | 3,233 | ||||||
Cable & Satellite — 2.31% |
| |||||||
33,400 | Cablevision Systems Corp., Class – A | 1,130 | ||||||
169,100 | Comcast Corp., Class – A | 3,715 | ||||||
42,600 | DIRECTV, Class ��� A (a) | 1,701 | ||||||
82,300 | Time Warner Cable, Inc. | 5,435 | ||||||
11,981 | ||||||||
Communications Equipment — 0.26% |
| |||||||
70,500 | Corning, Inc. | 1,362 | ||||||
Computer Hardware — 1.58% |
| |||||||
390,300 | Dell, Inc. (a) | 5,288 | ||||||
69,900 | Hewlett-Packard Co. | 2,943 | ||||||
8,231 | ||||||||
Consumer Electronics — 0.38% |
| |||||||
64,200 | Garmin Ltd. | 1,990 | ||||||
Consumer Finance — 0.38% |
| |||||||
46,700 | Capital One Financial Corp. | 1,988 | ||||||
Department Stores — 0.63% |
| |||||||
60,200 | Kohl’s Corp. (a) | 3,271 | ||||||
Distillers & Vintners — 0.44% |
| |||||||
103,300 | Constellation Brands, Inc., Class – A (a) | 2,288 | ||||||
Shares | Security | Value (000) | ||||||
Diversified Banks — 2.09% |
| |||||||
35,300 | Comerica, Inc. | $ | 1,491 | |||||
301,900 | Wells Fargo & Co. | 9,356 | ||||||
10,847 | ||||||||
Diversified Chemicals — 0.12% |
| |||||||
18,800 | The Dow Chemical Co. | 642 | ||||||
Diversified Metals & Mining — 0.21% |
| |||||||
66,200 | Commercial Metals Co. | 1,098 | ||||||
Electric Utilities — 0.30% |
| |||||||
40,100 | Edison International | 1,548 | ||||||
Electronic Manufacturing Services — 0.51% |
| |||||||
74,800 | Tyco Electronics Ltd. | 2,648 | ||||||
Food Retail — 0.81% |
| |||||||
123,200 | Safeway, Inc. | 2,771 | ||||||
63,200 | The Kroger Co. | 1,413 | ||||||
4,184 | ||||||||
Home Improvement Retail — 0.40% |
| |||||||
82,500 | Lowe’s Cos., Inc. | 2,069 | ||||||
Homebuilding — 0.19% |
| |||||||
1,442 | NVR, Inc. (a) | 996 | ||||||
Hotels, Resorts & Cruise Lines — 0.32% |
| |||||||
35,400 | Royal Caribbean Cruises Ltd. (a) | 1,664 | ||||||
Household Products — 0.35% |
| |||||||
29,200 | Kimberly-Clark Corp. | 1,841 | ||||||
Independent Power Producers & Energy |
| |||||||
57,700 | Constellation Energy Group, Inc. | 1,767 | ||||||
Industrial Conglomerates — 0.53% |
| |||||||
151,500 | General Electric Co. | 2,771 | ||||||
Industrial Machinery — 2.36% |
| |||||||
30,900 | Eaton Corp. | 3,137 | ||||||
105,100 | Ingersoll-Rand PLC | 4,949 | ||||||
48,600 | Parker Hannifin Corp. | 4,194 | ||||||
12,280 | ||||||||
Integrated Oil & Gas — 2.03% |
| |||||||
47,300 | ConocoPhillips | 3,221 | ||||||
41,600 | Hess Corp. | 3,184 | ||||||
112,400 | Marathon Oil Corp. | 4,162 | ||||||
10,567 | ||||||||
Integrated Telecommunication Services — 0.84% |
| |||||||
72,500 | AT&T, Inc. | 2,130 | ||||||
48,300 | CenturyLink, Inc. | 2,230 | ||||||
4,360 | ||||||||
Investment Banking & Brokerage — 0.83% |
| |||||||
83,100 | Morgan Stanley | 2,261 | ||||||
12,200 | The Goldman Sachs Group, Inc. | 2,052 | ||||||
4,313 | ||||||||
See accompanying notes to financial statements
1
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
AllianceBernstein L.P. (continued) |
| |||||||
Managed Health Care — 0.18% |
| |||||||
35,100 | Health Net, Inc. (a) | $ | 958 | |||||
Movies & Entertainment — 1.45% |
| |||||||
239,500 | News Corp., Class – A | 3,487 | ||||||
61,200 | Time Warner, Inc. | 1,969 | ||||||
52,900 | Viacom, Inc., Class – B | 2,095 | ||||||
7,551 | ||||||||
Multi-line Insurance — 0.23% |
| |||||||
54,600 | XL Group PLC | 1,191 | ||||||
Multi-Utilities — 0.29% |
| |||||||
84,200 | NiSource, Inc. | 1,484 | ||||||
Oil & Gas Drilling — 0.76% |
| |||||||
73,800 | ENSCO International PLC – Sponsored ADR | 3,939 | ||||||
Oil & Gas Exploration & Production — 2.15% |
| |||||||
75,300 | Devon Energy Corp. | 5,912 | ||||||
34,800 | Newfield Exploration Co. (a) | 2,509 | ||||||
119,700 | Nexen, Inc. | 2,741 | ||||||
11,162 | ||||||||
Other Diversified Financial Services — 1.73% |
| |||||||
212,400 | JPMorgan Chase & Co. | 9,010 | ||||||
Packaged Foods & Meats — 0.89% |
| |||||||
135,200 | Sara Lee Corp. | 2,367 | ||||||
110,300 | Smithfield Foods, Inc. (a) | 2,276 | ||||||
4,643 | ||||||||
Pharmaceuticals — 4.39% |
| |||||||
105,300 | AstraZeneca PLC – Sponsored ADR | 4,864 | ||||||
153,500 | Johnson & Johnson | 9,494 | ||||||
484,200 | Pfizer, Inc. | 8,478 | ||||||
22,836 | ||||||||
Property & Casualty Insurance — 0.81% |
| |||||||
18,000 | ACE Ltd. | 1,121 | ||||||
55,600 | The Travelers Cos., Inc. | 3,097 | ||||||
4,218 | ||||||||
Publishing — 0.21% |
| |||||||
70,400 | Gannett Co., Inc. | 1,062 | ||||||
Regional Banks — 0.70% |
| |||||||
62,000 | BB&T Corp. | 1,630 | ||||||
137,200 | Fifth Third Bancorp | 2,014 | ||||||
3,644 | ||||||||
Systems Software — 0.50% |
| |||||||
93,000 | Microsoft Corp. | 2,597 | ||||||
Tobacco — 0.62% |
| |||||||
131,000 | Altria Group, Inc. | 3,225 | ||||||
Shares | Security | Value (000) | ||||||
Wireless Telecommunication Services — 0.58% |
| |||||||
11,300 | Sprint Nextel Corp. (a) | $ | 48 | |||||
111,800 | Vodafone Group PLC – Sponsored ADR | 2,955 | ||||||
3,003 | ||||||||
Total AllianceBernstein L.P. | 207,936 | |||||||
Institutional Capital, LLC — 22.55% |
| |||||||
Aerospace & Defense — 0.75% |
| |||||||
73,157 | Honeywell International, Inc. | 3,889 | ||||||
Asset Management & Custody Banks — 0.44% |
| |||||||
12,100 | BlackRock, Inc. | 2,306 | ||||||
Auto Parts & Equipment — 0.52% |
| |||||||
71,078 | Johnson Controls, Inc. | 2,715 | ||||||
Brewers — 0.39% |
| |||||||
40,859 | Molson Coors Brewing Co., Class – B | 2,051 | ||||||
Communications Equipment — 0.48% |
| |||||||
50,150 | Qualcomm, Inc. | 2,482 | ||||||
Construction & Farm Machinery & |
| |||||||
7,069 | Caterpillar, Inc. | 662 | ||||||
Diversified Banks — 1.42% |
| |||||||
120,107 | U.S. Bancorp | 3,239 | ||||||
133,997 | Wells Fargo & Co. | 4,153 | ||||||
7,392 | ||||||||
Drug Retail — 0.22% |
| |||||||
32,550 | CVS Caremark Corp. | 1,132 | ||||||
Fertilizers & Agricultural Chemicals — 0.48% |
| |||||||
35,900 | Monsanto Co. | 2,500 | ||||||
Gold — 0.59% |
| |||||||
49,589 | Newmont Mining Corp. | 3,046 | ||||||
Health Care Equipment — 0.52% |
| |||||||
59,078 | Covidien PLC | 2,698 | ||||||
Home Improvement Retail — 0.66% |
| |||||||
137,118 | Lowe’s Cos., Inc. | 3,439 | ||||||
Industrial Conglomerates — 0.13% |
| |||||||
28,149 | Textron, Inc. | 665 | ||||||
Insurance Brokers — 0.49% |
| |||||||
54,779 | Aon Corp. | 2,520 | ||||||
Integrated Oil & Gas — 3.33% |
| |||||||
44,625 | Chevron Corp. | 4,072 | ||||||
74,800 | ConocoPhillips | 5,094 | ||||||
88,338 | Marathon Oil Corp. | 3,271 | ||||||
49,890 | Occidental Petroleum Corp. | 4,894 | ||||||
17,331 | ||||||||
Integrated Telecommunication Services — 0.63% |
| |||||||
92,873 | BCE, Inc. | 3,293 | ||||||
See accompanying notes to financial statements
2
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Institutional Capital, LLC (continued) |
| |||||||
Investment Banking & Brokerage — 0.92% |
| |||||||
78,800 | Charles Schwab Corp. | $ | 1,348 | |||||
20,450 | The Goldman Sachs Group, Inc. | 3,439 | ||||||
4,787 | ||||||||
IT Consulting & Other Services — 0.36% |
| |||||||
38,674 | Accenture PLC, Class – A | 1,875 | ||||||
Life & Health Insurance — 1.08% |
| |||||||
51,774 | Aflac, Inc. | 2,922 | ||||||
60,900 | MetLife, Inc. | 2,706 | ||||||
5,628 | ||||||||
Managed Health Care — 0.25% |
| |||||||
23,000 | WellPoint, Inc. (a) | 1,308 | ||||||
Metal & Glass Containers — 0.33% |
| |||||||
55,746 | Owens-Illinois, Inc. (a) | 1,711 | ||||||
Movies & Entertainment — 1.10% |
| |||||||
42,800 | Time Warner, Inc. | 1,377 | ||||||
109,108 | Viacom, Inc., Class – B | 4,322 | ||||||
5,699 | ||||||||
Oil & Gas Exploration & Production — 0.37% |
| |||||||
16,250 | Apache Corp. | 1,938 | ||||||
Pharmaceuticals — 2.57% |
| |||||||
115,211 | Merck & Co., Inc. | 4,152 | ||||||
304,186 | Pfizer, Inc. | 5,327 | ||||||
119,645 | Sanofi-Aventis – Sponsored ADR | 3,856 | ||||||
13,335 | ||||||||
Property & Casualty Insurance — 0.23% |
| |||||||
19,500 | ACE Ltd. | 1,214 | ||||||
Regional Banks — 0.49% |
| |||||||
97,395 | BB&T Corp. | 2,561 | ||||||
Semiconductors — 0.47% |
| |||||||
75,048 | Texas Instruments, Inc. | 2,439 | ||||||
Soft Drinks — 1.69% |
| |||||||
77,326 | PepsiCo, Inc. | 5,051 | ||||||
56,618 | The Coca-Cola Co. | 3,724 | ||||||
8,775 | ||||||||
Systems Software — 0.70% |
| |||||||
130,500 | Microsoft Corp. | 3,644 | ||||||
Wireless Telecommunication Services — 0.81% |
| |||||||
159,217 | Vodafone Group PLC – Sponsored ADR | 4,208 | ||||||
Total Institutional Capital, LLC | 117,243 | |||||||
SSgA Funds Management, Inc. — 35.69% |
| |||||||
Advertising — 0.02% |
| |||||||
2,600 | Omnicom Group, Inc. | 119 | ||||||
Shares | Security | Value (000) | ||||||
Aerospace & Defense — 0.68% |
| |||||||
14,623 | General Dynamics Corp. | $ | 1,038 | |||||
2,900 | Lockheed Martin Corp. | 203 | ||||||
12,898 | Northrop Grumman Corp. | 835 | ||||||
16,449 | Raytheon Co. | 762 | ||||||
6,255 | The Boeing Co. | 408 | ||||||
3,503 | United Technologies Corp. | 276 | ||||||
3,522 | ||||||||
Agricultural Products — 0.16% |
| |||||||
27,751 | Archer-Daniels-Midland Co. | 835 | ||||||
Air Freight & Logistics — 0.08% |
| |||||||
4,664 | FedEx Corp. | 434 | ||||||
Aluminum — 0.11% |
| |||||||
37,887 | Alcoa, Inc. | 583 | ||||||
Apparel Retail — 0.01% |
| |||||||
2,043 | The Gap, Inc. | 45 | ||||||
Asset Management & Custody Banks — 0.47% |
| |||||||
51,920 | Bank of New York Mellon Corp. | 1,568 | ||||||
2,672 | BlackRock, Inc., Class – A | 509 | ||||||
6,300 | Northern Trust Corp. | 349 | ||||||
2,426 | ||||||||
Auto Parts & Equipment — 0.01% |
| |||||||
1,687 | Johnson Controls, Inc. | 65 | ||||||
Biotechnology — 0.61% |
| |||||||
41,023 | Amgen, Inc. (a) | 2,252 | ||||||
10,400 | Biogen Idec, Inc. (a) | 697 | ||||||
2,800 | Genzyme Corp. (a) | 200 | ||||||
3,149 | ||||||||
Cable & Satellite — 0.70% |
| |||||||
120,664 | Comcast Corp., Class – A | 2,651 | ||||||
14,992 | Time Warner Cable, Inc. | 990 | ||||||
3,641 | ||||||||
Communications Equipment — 0.39% |
| |||||||
57,909 | Corning, Inc. | 1,119 | ||||||
100,276 | Motorola, Inc. (a) | 909 | ||||||
2,028 | ||||||||
Construction & Farm Machinery & Heavy |
| |||||||
1,014 | Deere & Co. | 84 | ||||||
Consumer Finance — 0.16% |
| |||||||
19,700 | Capital One Financial Corp. | 838 | ||||||
Department Stores — 0.04% |
| |||||||
3,426 | Kohl’s Corp. (a) | 186 | ||||||
Diversified Banks — 1.67% |
| |||||||
82,167 | U.S. Bancorp | 2,216 | ||||||
208,096 | Wells Fargo & Co. | 6,449 | ||||||
8,665 | ||||||||
See accompanying notes to financial statements
3
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Diversified Chemicals — 0.57% |
| |||||||
25,363 | E.I. du Pont de Nemours & Co. | $ | 1,265 | |||||
49,151 | The Dow Chemical Co. | 1,678 | ||||||
2,943 | ||||||||
Drug Retail — 0.37% |
| |||||||
51,512 | CVS Caremark Corp. | 1,791 | ||||||
3,400 | Walgreen Co. | 133 | ||||||
1,924 | ||||||||
Electric Utilities — 1.10% |
| |||||||
20,381 | American Electric Power, Inc. | 733 | ||||||
56,377 | Duke Energy Corp. | 1,004 | ||||||
8,147 | Entergy Corp. | 577 | ||||||
28,039 | Exelon Corp. | 1,168 | ||||||
17,605 | NextEra Energy, Inc. | 915 | ||||||
35,037 | The Southern Co. | 1,340 | ||||||
5,737 | ||||||||
Environmental & Facilities Services — 0.15% |
| |||||||
20,790 | Waste Management, Inc. | 767 | ||||||
Food Retail — 0.11% |
| |||||||
26,157 | The Kroger Co. | 585 | ||||||
Health Care Distributors — 0.16% |
| |||||||
10,287 | Cardinal Health, Inc. | 394 | ||||||
6,123 | McKesson Corp. | 431 | ||||||
825 | ||||||||
Health Care Equipment — 0.21% |
| |||||||
4,300 | Baxter International, Inc. | 218 | ||||||
11,100 | Medtronic, Inc. | 412 | ||||||
8,786 | Zimmer Holdings, Inc. (a) | 471 | ||||||
1,101 | ||||||||
Home Entertainment Software — 0.04% |
| |||||||
16,418 | Activision Blizzard, Inc. | 204 | ||||||
Home Improvement Retail — 0.07% |
| |||||||
14,889 | Lowe’s Cos., Inc. | 373 | ||||||
Hotels, Resorts & Cruise Lines — 0.10% |
| |||||||
11,846 | Carnival Corp. | 546 | ||||||
Household Products — 1.53% |
| |||||||
3,500 | Colgate-Palmolive Co. | 281 | ||||||
3,706 | Kimberly-Clark Corp. | 234 | ||||||
115,796 | The Procter & Gamble Co. | 7,449 | ||||||
7,964 | ||||||||
Hypermarkets & Super Centers — 0.34% |
| |||||||
32,646 | Wal-Mart Stores, Inc. | 1,761 | ||||||
Shares | Security | Value (000) | ||||||
Industrial Conglomerates — 1.38% |
| |||||||
350,616 | General Electric Co. | $ | 6,413 | |||||
18,838 | Tyco International Ltd. | 780 | ||||||
7,193 | ||||||||
Industrial Machinery — 0.02% |
| |||||||
1,730 | Danaher Corp. | 82 | ||||||
Integrated Oil & Gas — 3.05% |
| |||||||
81,336 | Chevron Corp. | 7,422 | ||||||
39,113 | ConocoPhillips | 2,664 | ||||||
17,581 | Exxon Mobil Corp. | 1,285 | ||||||
12,578 | Hess Corp. | 963 | ||||||
22,335 | Marathon Oil Corp. | 827 | ||||||
27,720 | Occidental Petroleum Corp. | 2,719 | ||||||
15,880 | ||||||||
Integrated Telecommunication Services — 2.26% |
| |||||||
252,755 | AT&T, Inc. | 7,426 | ||||||
120,711 | Verizon Communications, Inc. | 4,319 | ||||||
11,745 | ||||||||
Internet Software & Services — 0.27% |
| |||||||
30,780 | eBay, Inc. (a) | 857 | ||||||
32,166 | Yahoo!, Inc. (a) | 535 | ||||||
1,392 | ||||||||
Investment Banking & Brokerage — 0.94% |
| |||||||
43,865 | Morgan Stanley | 1,194 | ||||||
22,018 | The Goldman Sachs Group, Inc. | 3,702 | ||||||
4,896 | ||||||||
Life & Health Insurance — 0.18% |
| |||||||
1,100 | Aflac, Inc. | 62 | ||||||
19,292 | MetLife, Inc. | 857 | ||||||
919 | ||||||||
Life Sciences Tools & Services — 0.19% |
| |||||||
17,661 | Thermo Electron Corp. (a) | 978 | ||||||
Managed Health Care — 0.62% |
| |||||||
17,059 | Aetna, Inc. | 521 | ||||||
48,409 | UnitedHealth Group, Inc. | 1,748 | ||||||
17,058 | WellPoint, Inc. (a) | 970 | ||||||
3,239 | ||||||||
Movies & Entertainment — 1.22% |
| |||||||
77,239 | News Corp., Class – A | 1,125 | ||||||
83,972 | The Walt Disney Co. | 3,150 | ||||||
38,501 | Time Warner, Inc. | 1,239 | ||||||
21,018 | Viacom, Inc., Class – B | 832 | ||||||
6,346 | ||||||||
Multi-line Insurance — 0.10% |
| |||||||
13,649 | Loews Corp. | 531 | ||||||
See accompanying notes to financial statements
4
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Multi-Utilities — 0.49% |
| |||||||
25,348 | Dominion Resources, Inc. | $ | 1,083 | |||||
16,161 | PG&E Corp. | 773 | ||||||
21,794 | Public Service Enterprise Group, Inc. | 693 | ||||||
2,549 | ||||||||
Oil & Gas Equipment & Services — 0.50% |
| |||||||
13,444 | Baker Hughes, Inc. | 769 | ||||||
17,792 | National Oilwell Varco, Inc. | 1,196 | ||||||
7,500 | Schlumberger Ltd. | 626 | ||||||
2,591 | ||||||||
Oil & Gas Exploration & Production — 1.11% |
| |||||||
21,196 | Anadarko Petroleum Corp. | 1,614 | ||||||
16,249 | Apache Corp. | 1,938 | ||||||
27,984 | Chesapeake Energy Corp. | 725 | ||||||
19,085 | Devon Energy Corp. | 1,498 | ||||||
5,775 | ||||||||
Oil & Gas Storage & Transportation — 0.07% |
| |||||||
14,890 | The Williams Cos., Inc. | 368 | ||||||
Other Diversified Financial Services — 3.31% |
| |||||||
428,934 | Bank of America Corp. | 5,722 | ||||||
904,099 | Citigroup, Inc. (a) | 4,276 | ||||||
170,192 | JPMorgan Chase & Co. | 7,220 | ||||||
17,218 | ||||||||
Packaged Foods & Meats — 0.51% |
| |||||||
11,680 | General Mills, Inc. | 416 | ||||||
1,200 | Kellogg Co. | 61 | ||||||
68,786 | Kraft Foods, Inc. | 2,168 | ||||||
2,645 | ||||||||
Pharmaceuticals — 3.94% |
| |||||||
6,600 | Abbott Laboratories | 316 | ||||||
73,687 | Bristol-Myers Squibb Co. | 1,951 | ||||||
33,233 | Eli Lilly & Co. | 1,164 | ||||||
100,225 | Johnson & Johnson | 6,199 | ||||||
133,318 | Merck & Co., Inc. | 4,805 | ||||||
344,870 | Pfizer, Inc. | 6,039 | ||||||
20,474 | ||||||||
Property & Casualty Insurance — 1.77% |
| |||||||
12,300 | ACE Ltd. | 766 | ||||||
73,973 | Berkshire Hathaway, Inc., Class – B (a) | 5,926 | ||||||
23,178 | The Allstate Corp. | 739 | ||||||
13,111 | The Chubb Corp. | 782 | ||||||
17,639 | The Travelers Cos., Inc. | 982 | ||||||
9,195 | ||||||||
Publishing — 0.08% |
| |||||||
11,000 | Thomson Reuters Corp. | 410 | ||||||
Shares or | Security | Value (000) | ||||||
Railroads — 0.73% |
| |||||||
16,513 | CSX Corp. | $ | 1,067 | |||||
15,678 | Norfolk Southern Corp. | 985 | ||||||
18,849 | Union Pacific Corp. | 1,746 | ||||||
3,798 | ||||||||
Regional Banks — 0.41% |
| |||||||
29,500 | BB&T Corp. | 775 | ||||||
22,330 | PNC Financial Services Group, Inc. | 1,356 | ||||||
2,131 | ||||||||
Retail REITs — 0.08% |
| |||||||
3,930 | Simon Property Group, Inc. | 391 | ||||||
1 | The Macerich Co. | — | ||||||
391 | ||||||||
Semiconductors — 0.48% |
| |||||||
74,814 | Intel Corp. | 1,573 | ||||||
28,800 | Texas Instruments, Inc. | 936 | ||||||
2,509 | ||||||||
Soft Drinks — 0.66% |
| |||||||
29,400 | PepsiCo, Inc. | 1,921 | ||||||
22,756 | The Coca-Cola Co. | 1,496 | ||||||
3,417 | ||||||||
Specialized Finance — 0.17% |
| |||||||
2,749 | CME Group, Inc. | 885 | ||||||
Specialized REITs — 0.01% |
| |||||||
600 | Public Storage | 61 | ||||||
Steel — 0.07% |
| |||||||
7,849 | Nucor Corp. | 344 | ||||||
Systems Software — 0.68% |
| |||||||
108,727 | Microsoft Corp. | 3,036 | ||||||
31,100 | Symantec Corp. (a) | 520 | ||||||
3,556 | ||||||||
Tobacco — 0.41% |
| |||||||
37,300 | Altria Group, Inc. | 918 | ||||||
12,500 | Philip Morris International, Inc. | 732 | ||||||
14,590 | Reynolds American, Inc. | 476 | ||||||
2,126 | ||||||||
Wireless Telecommunication Services — 0.10% |
| |||||||
128,001 | Sprint Nextel Corp. (a) | 542 | ||||||
Total SSgA Funds Management, Inc. | 185,536 | |||||||
Total Common Stocks | 510,715 | |||||||
�� | ||||||||
U.S. Treasury Obligations — 0.04% |
| |||||||
SSgA Funds Management, Inc. — 0.04% |
| |||||||
$ | 10 | U.S. Treasury Bills, | 10 |
See accompanying notes to financial statements
5
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Shares or | Security | Value (000) | ||||||
U.S. Treasury Obligations (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
$ | 179 | U.S. Treasury Bills, | $ | 179 | ||||
Total U.S. Treasury Obligations | 189 | |||||||
Time Deposits — 1.45% | ||||||||
AllianceBernstein L.P. — 1.04% | ||||||||
5,419 | State Street Liquidity Management Control System Time Deposit, | 5,419 | ||||||
Institutional Capital, LLC — 0.41% | ||||||||
2,128 | State Street Liquidity Management Control System Time Deposit, | 2,128 | ||||||
Total Time Deposits | 7,547 | |||||||
Mutual Funds — 0.02% | ||||||||
SSgA Funds Management, Inc. — 0.02% |
| |||||||
97,811 | Alliance Money Market Fund Prime | 98 | ||||||
Total Mutual Funds | 98 | |||||||
Total Investments | 518,549 | |||||||
Other assets in excess of | 1,311 | |||||||
Net Assets — 100.00% | $ | 519,860 | ||||||
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Represents non-income producing security. |
(b) | All or part of this security has been pledged as collateral for futures contracts held by the Portfolio. |
(c) | Rate disclosed represents effective yield at purchase. |
(d) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2010. |
ADR — American Depositary Receipt
REITs — Real Estate Investment Trusts
Futures
SSgA Funds Management, Inc.
Number of | Futures Contracts Positions | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
32 | S&P 500 E-mini Future | $ | 2,005 | Mar-11 | $ | 27 | ||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | 27 | ||||||||||||||
See accompanying notes to financial statements
6
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks — 82.10% |
| |||||||
AllianceBernstein L.P. — 35.81% |
| |||||||
Aerospace & Defense — 1.30% |
| |||||||
146,100 | Northrop Grumman Corp. | $ | 9,464 | |||||
38,800 | Raytheon Co. | 1,798 | ||||||
11,262 | ||||||||
Agricultural Products — 1.70% |
| |||||||
37,100 | Agrium, Inc. | 3,404 | ||||||
40,600 | Archer-Daniels-Midland Co. | 1,221 | ||||||
92,400 | Bunge Ltd. | 6,054 | ||||||
29,400 | CF Industries Holdings, Inc. | 3,974 | ||||||
14,653 | ||||||||
Airlines — 0.46% |
| |||||||
317,600 | Delta Air Lines, Inc. (a) | 4,002 | ||||||
Aluminum — 0.41% |
| |||||||
227,400 | Alcoa, Inc. | 3,500 | ||||||
Apparel Retail — 0.52% |
| |||||||
201,100 | The Gap, Inc. | 4,452 | ||||||
Auto Parts & Equipment — 0.24% |
| |||||||
20,900 | Lear Corp. (a) | 2,063 | ||||||
Automobile Manufacturers — 0.57% |
| |||||||
219,700 | Ford Motor Co. (a) | 3,689 | ||||||
34,100 | General Motors Co. (a) | 1,257 | ||||||
4,946 | ||||||||
Biotechnology — 0.50% |
| |||||||
118,300 | Gilead Sciences, Inc. (a) | 4,287 | ||||||
Cable & Satellite — 2.08% |
| |||||||
54,900 | Cablevision Systems Corp., Class – A | 1,858 | ||||||
252,500 | Comcast Corp., Class – A | 5,547 | ||||||
62,500 | DIRECTV, Class – A (a) | 2,496 | ||||||
122,200 | Time Warner Cable, Inc. | 8,069 | ||||||
17,970 | ||||||||
Communications Equipment — 0.49% |
| |||||||
217,100 | Corning, Inc. | 4,194 | ||||||
Computer Hardware — 1.37% |
| |||||||
542,200 | Dell, Inc. (a) | 7,347 | ||||||
106,700 | Hewlett-Packard Co. | 4,492 | ||||||
11,839 | ||||||||
Consumer Electronics — 0.35% |
| |||||||
98,000 | Garmin Ltd. | 3,037 | ||||||
Consumer Finance — 0.35% |
| |||||||
71,300 | Capital One Financial Corp. | 3,034 | ||||||
Department Stores — 0.52% |
| |||||||
83,100 | Kohl’s Corp. (a) | 4,516 | ||||||
Distillers & Vintners — 0.42% |
| |||||||
163,400 | Constellation Brands, Inc., Class – A (a) | 3,619 | ||||||
Shares | Security | Value (000) | ||||||
Diversified Banks — 1.91% |
| |||||||
54,000 | Comerica, Inc. | $ | 2,281 | |||||
460,400 | Wells Fargo & Co. | 14,268 | ||||||
16,549 | ||||||||
Diversified Chemicals — 0.10% |
| |||||||
25,800 | The Dow Chemical Co. | 881 | ||||||
Diversified Metals & Mining — 0.19% |
| |||||||
101,000 | Commercial Metals Co. | 1,676 | ||||||
Electric Utilities — 0.28% |
| |||||||
63,100 | Edison International | 2,436 | ||||||
Electronic Manufacturing Services — 0.47% |
| |||||||
114,300 | Tyco Electronics Ltd. | 4,046 | ||||||
Food Retail — 0.88% |
| |||||||
250,700 | Safeway, Inc. | 5,638 | ||||||
88,885 | The Kroger Co. | 1,988 | ||||||
7,626 | ||||||||
Home Improvement Retail — 0.38% |
| |||||||
129,400 | Lowe’s Cos., Inc. | 3,245 | ||||||
Homebuilding — 0.22% |
| |||||||
2,800 | NVR, Inc. (a) | 1,935 | ||||||
Hotels, Resorts & Cruise Lines — 0.29% |
| |||||||
54,000 | Royal Caribbean Cruises Ltd. (a) | 2,538 | ||||||
Household Products — 0.33% |
| |||||||
44,600 | Kimberly-Clark Corp. | 2,811 | ||||||
Independent Power Producers & Energy Traders — 0.34% |
| |||||||
97,300 | Constellation Energy Group, Inc. | 2,980 | ||||||
Industrial Conglomerates — 0.49% |
| |||||||
231,100 | General Electric Co. | 4,227 | ||||||
Industrial Machinery — 2.00% |
| |||||||
47,100 | Eaton Corp. | 4,781 | ||||||
130,100 | Ingersoll-Rand PLC | 6,126 | ||||||
74,200 | Parker Hannifin Corp. | 6,404 | ||||||
17,311 | ||||||||
Integrated Oil & Gas — 1.83% |
| |||||||
70,200 | ConocoPhillips | 4,781 | ||||||
61,600 | Hess Corp. | 4,715 | ||||||
171,600 | Marathon Oil Corp. | 6,354 | ||||||
15,850 | ||||||||
Integrated Telecommunication Services — 0.76% |
| |||||||
107,400 | AT&T, Inc. | 3,155 | ||||||
73,700 | CenturyLink, Inc. | 3,403 | ||||||
6,558 | ||||||||
Investment Banking & Brokerage — 0.71% |
| |||||||
108,900 | Morgan Stanley | 2,963 | ||||||
18,700 | The Goldman Sachs Group, Inc. | 3,145 | ||||||
6,108 | ||||||||
See accompanying notes to financial statements
7
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
AllianceBernstein L.P. (continued) | ||||||||
Managed Health Care — 0.17% |
| |||||||
53,600 | Health Net, Inc. (a) | $ | 1,463 | |||||
Movies & Entertainment — 1.07% |
| |||||||
310,291 | News Corp., Class – A | 4,518 | ||||||
48,600 | Time Warner, Inc. | 1,563 | ||||||
80,400 | Viacom, Inc., Class – B | 3,185 | ||||||
9,266 | ||||||||
Multi-line Insurance — 0.18% |
| |||||||
70,200 | XL Group PLC | 1,532 | ||||||
Oil & Gas Drilling — 0.70% |
| |||||||
112,800 | ENSCO International PLC – Sponsored ADR | 6,021 | ||||||
Oil & Gas Exploration & Production — 1.92% |
| |||||||
111,900 | Devon Energy Corp. | 8,785 | ||||||
53,100 | Newfield Exploration Co. (a) | 3,829 | ||||||
173,700 | Nexen, Inc. | 3,978 | ||||||
16,592 | ||||||||
Other Diversified Financial Services — 1.59% |
| |||||||
324,000 | JPMorgan Chase & Co. | 13,744 | ||||||
Packaged Foods & Meats — 0.81% |
| |||||||
206,200 | Sara Lee Corp. | 3,610 | ||||||
163,100 | Smithfield Foods, Inc. (a) | 3,365 | ||||||
6,975 | ||||||||
Pharmaceuticals — 3.85% |
| |||||||
142,200 | AstraZeneca PLC – Sponsored ADR | 6,568 | ||||||
220,700 | Johnson & Johnson | 13,650 | ||||||
743,900 | Pfizer, Inc. | 13,026 | ||||||
33,244 | ||||||||
Property & Casualty Insurance — 0.53% |
| |||||||
82,700 | The Travelers Cos., Inc. | 4,607 | ||||||
Publishing — 0.19% |
| |||||||
107,400 | Gannett Co., Inc. | 1,621 | ||||||
Regional Banks — 0.78% |
| |||||||
134,900 | BB&T Corp. | 3,547 | ||||||
215,000 | Fifth Third Bancorp | 3,156 | ||||||
6,703 | ||||||||
Steel — 0.25% |
| |||||||
28,200 | Cliffs Natural Resources, Inc. | 2,200 | ||||||
Systems Software — 0.46% |
| |||||||
141,900 | Microsoft Corp. | 3,962 | ||||||
Tobacco — 0.33% |
| |||||||
117,400 | Altria Group, Inc. | 2,890 | ||||||
Wireless Telecommunication Services — 0.52% |
| |||||||
18,800 | Sprint Nextel Corp. (a) | 79 |
Shares | Security | Value (000) | ||||||
Wireless Telecommunication Services (continued) |
| |||||||
168,200 | Vodafone Group PLC – Sponsored ADR | $ | 4,446 | |||||
4,525 | ||||||||
Total AllianceBernstein L.P. | 309,496 | |||||||
Institutional Capital, LLC — 24.68% |
| |||||||
Aerospace & Defense — 0.82% |
| |||||||
132,803 | Honeywell International, Inc. | 7,060 | ||||||
Asset Management & Custody Banks — 0.48% |
| |||||||
21,950 | BlackRock, Inc. | 4,183 | ||||||
Auto Parts & Equipment — 0.57% |
| |||||||
129,022 | Johnson Controls, Inc. | 4,929 | ||||||
Brewers — 0.43% |
| |||||||
74,151 | Molson Coors Brewing Co., Class – B | 3,722 | ||||||
Communications Equipment — 0.52% |
| |||||||
91,050 | Qualcomm, Inc. | 4,506 | ||||||
Construction & Farm Machinery & Heavy Trucks — 0.14% |
| |||||||
12,781 | Caterpillar, Inc. | 1,197 | ||||||
Diversified Banks — 1.55% |
| |||||||
217,943 | U.S. Bancorp | 5,878 | ||||||
243,173 | Wells Fargo & Co. | 7,536 | ||||||
13,414 | ||||||||
Drug Retail — 0.24% |
| |||||||
59,100 | CVS Caremark Corp. | 2,055 | ||||||
Fertilizers & Agricultural Chemicals — 0.54% |
| |||||||
67,300 | Monsanto Co. | 4,687 | ||||||
Gold — 0.64% |
| |||||||
90,026 | Newmont Mining Corp. | 5,530 | ||||||
Health Care Equipment — 0.57% |
| |||||||
107,222 | Covidien PLC | 4,896 | ||||||
Home Improvement Retail — 0.72% |
| |||||||
248,832 | Lowe’s Cos., Inc. | 6,241 | ||||||
Industrial Conglomerates — 0.14% |
| |||||||
50,301 | Textron, Inc. | 1,189 | ||||||
Insurance Brokers — 0.53% |
| |||||||
99,371 | Aon Corp. | 4,572 | ||||||
Integrated Oil & Gas — 3.64% |
| |||||||
80,975 | Chevron Corp. | 7,389 | ||||||
135,750 | ConocoPhillips | 9,244 | ||||||
160,342 | Marathon Oil Corp. | 5,937 | ||||||
90,740 | Occidental Petroleum Corp. | 8,902 | ||||||
31,472 | ||||||||
Integrated Telecommunication Services — 0.69% |
| |||||||
168,527 | BCE, Inc. | 5,976 | ||||||
Investment Banking & Brokerage — 1.01% |
| |||||||
143,050 | Charles Schwab Corp. | 2,448 |
See accompanying notes to financial statements
8
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Institutional Capital, LLC (continued) | ||||||||
Investment Banking & Brokerage (continued) |
| |||||||
37,150 | The Goldman Sachs Group, Inc. | $ | 6,247 | |||||
8,695 | ||||||||
IT Consulting & Other Services — 0.39% |
| |||||||
70,176 | Accenture PLC, Class – A | 3,403 | ||||||
Life & Health Insurance — 1.18% |
| |||||||
93,926 | Aflac, Inc. | 5,300 | ||||||
110,550 | MetLife, Inc. | 4,913 | ||||||
10,213 | ||||||||
Managed Health Care — 0.28% |
| |||||||
41,750 | WellPoint, Inc. (a) | 2,374 | ||||||
Metal & Glass Containers — 0.36% |
| |||||||
101,204 | Owens-Illinois, Inc. (a) | 3,107 | ||||||
Movies & Entertainment — 1.21% |
| |||||||
80,200 | Time Warner, Inc. | 2,580 | ||||||
197,972 | Viacom, Inc., Class – B | 7,842 | ||||||
10,422 | ||||||||
Oil & Gas Exploration & Production — 0.41% |
| |||||||
29,500 | Apache Corp. | 3,517 | ||||||
Pharmaceuticals — 2.83% |
| |||||||
216,231 | Merck & Co., Inc. | 7,793 | ||||||
552,114 | Pfizer, Inc. | 9,667 | ||||||
217,155 | Sanofi-Aventis – Sponsored ADR | 6,999 | ||||||
24,459 | ||||||||
Property & Casualty Insurance — 0.25% |
| |||||||
35,350 | ACE Ltd. | 2,200 | ||||||
Regional Banks — 0.54% |
| |||||||
176,755 | BB&T Corp. | 4,647 | ||||||
Semiconductors — 0.51% |
| |||||||
136,172 | Texas Instruments, Inc. | 4,425 | ||||||
Soft Drinks — 1.84% |
| |||||||
140,384 | PepsiCo, Inc. | 9,171 | ||||||
102,792 | The Coca-Cola Co. | 6,761 | ||||||
15,932 | ||||||||
Systems Software — 0.77% |
| |||||||
236,850 | Microsoft Corp. | 6,613 | ||||||
Wireless Telecommunication Services — 0.88% |
| |||||||
288,923 | Vodafone Group PLC – Sponsored ADR | 7,636 | ||||||
Total Institutional Capital, LLC | 213,272 | |||||||
SSgA Funds Management, Inc. — 21.61% |
| |||||||
Advertising — 0.01% |
| |||||||
2,697 | Omnicom Group, Inc. | 123 | ||||||
Aerospace & Defense — 0.41% |
| |||||||
14,951 | General Dynamics Corp. | 1,061 | ||||||
2,852 | Lockheed Martin Corp. | 200 |
Shares | Security | Value (000) | ||||||
Aerospace & Defense (continued) | ||||||||
13,012 | Northrop Grumman Corp. | $ | 843 | |||||
16,558 | Raytheon Co. | 767 | ||||||
6,221 | The Boeing Co. | 406 | ||||||
3,460 | United Technologies Corp. | 272 | ||||||
3,549 | ||||||||
Agricultural Products — 0.10% |
| |||||||
27,924 | Archer-Daniels-Midland Co. | 840 | ||||||
Air Freight & Logistics — 0.05% |
| |||||||
4,690 | FedEx Corp. | 436 | ||||||
Aluminum — 0.07% |
| |||||||
37,406 | Alcoa, Inc. | 576 | ||||||
Apparel Retail — 0.00% |
| |||||||
1,853 | The Gap, Inc. | 41 | ||||||
Asset Management & Custody Banks — 0.28% |
| |||||||
52,249 | Bank of New York Mellon Corp. | 1,578 | ||||||
2,645 | BlackRock, Inc., Class – A | 504 | ||||||
6,262 | Northern Trust Corp. | 347 | ||||||
2,429 | ||||||||
Auto Parts & Equipment — 0.01% |
| |||||||
1,787 | Johnson Controls, Inc. | 68 | ||||||
Biotechnology — 0.37% |
| |||||||
41,341 | Amgen, Inc. (a) | 2,269 | ||||||
10,525 | Biogen Idec, Inc. (a) | 706 | ||||||
2,653 | Genzyme Corp. (a) | 189 | ||||||
3,164 | ||||||||
Cable & Satellite — 0.42% |
| |||||||
121,284 | Comcast Corp., Class – A | 2,665 | ||||||
15,178 | Time Warner Cable, Inc. | 1,002 | ||||||
3,667 | ||||||||
Communications Equipment — 0.24% |
| |||||||
58,483 | Corning, Inc. | 1,130 | ||||||
100,741 | Motorola, Inc. (a) | 914 | ||||||
2,044 | ||||||||
Construction & Farm Machinery & Heavy Trucks — 0.01% |
| |||||||
1,078 | Deere & Co. | 89 | ||||||
Consumer Finance — 0.10% |
| |||||||
19,743 | Capital One Financial Corp. | 840 | ||||||
Department Stores — 0.02% |
| |||||||
3,545 | Kohl’s Corp. (a) | 193 | ||||||
Diversified Banks — 1.01% |
| |||||||
82,619 | U.S. Bancorp | 2,228 | ||||||
209,330 | Wells Fargo & Co. | 6,487 | ||||||
8,715 | ||||||||
Diversified Chemicals — 0.34% |
| |||||||
25,494 | E.I. du Pont de Nemours & Co. | 1,272 |
See accompanying notes to financial statements
9
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Diversified Chemicals (continued) | ||||||||
49,707 | The Dow Chemical Co. | $ | 1,697 | |||||
2,969 | ||||||||
Drug Retail — 0.23% |
| |||||||
52,134 | CVS Caremark Corp. | 1,813 | ||||||
3,413 | Walgreen Co. | 133 | ||||||
1,946 | ||||||||
Electric Utilities — 0.67% |
| |||||||
20,767 | American Electric Power, Inc. | 747 | ||||||
56,945 | Duke Energy Corp. | 1,014 | ||||||
8,084 | Entergy Corp. | 573 | ||||||
28,270 | Exelon Corp. | 1,177 | ||||||
17,698 | NextEra Energy, Inc. | 920 | ||||||
35,519 | The Southern Co. | 1,358 | ||||||
5,789 | ||||||||
Environmental & Facilities Services — 0.09% |
| |||||||
20,920 | Waste Management, Inc. | 771 | ||||||
Food Retail — 0.07% |
| |||||||
26,034 | The Kroger Co. | 582 | ||||||
Health Care Distributors — 0.10% |
| |||||||
10,263 | Cardinal Health, Inc. | 393 | ||||||
6,287 | McKesson Corp. | 443 | ||||||
836 | ||||||||
Health Care Equipment — 0.12% |
| |||||||
4,175 | Baxter International, Inc. | 211 | ||||||
10,887 | Medtronic, Inc. | 404 | ||||||
8,582 | Zimmer Holdings, Inc. (a) | 461 | ||||||
1,076 | ||||||||
Home Entertainment Software — 0.02% |
| |||||||
15,951 | Activision Blizzard, Inc. | 198 | ||||||
Home Improvement Retail — 0.04% |
| |||||||
14,870 | Lowe’s Cos., Inc. | 373 | ||||||
Hotels, Resorts & Cruise Lines — 0.06% |
| |||||||
11,898 | Carnival Corp. | 549 | ||||||
Household Products — 0.93% |
| |||||||
3,449 | Colgate-Palmolive Co. | 277 | ||||||
3,677 | Kimberly-Clark Corp. | 232 | ||||||
116,472 | The Procter & Gamble Co. | 7,493 | ||||||
8,002 | ||||||||
Hypermarkets & Super Centers — 0.21% |
| |||||||
33,012 | Wal-Mart Stores, Inc. | 1,780 | ||||||
Industrial Conglomerates — 0.84% |
| |||||||
352,703 | General Electric Co. | 6,451 | ||||||
18,905 | Tyco International Ltd. | 783 | ||||||
7,234 | ||||||||
Shares | Security | Value (000) | ||||||
Industrial Machinery — 0.01% |
| |||||||
1,842 | Danaher Corp. | $ | 87 | |||||
Integrated Oil & Gas — 1.85% |
| |||||||
81,876 | Chevron Corp. | 7,471 | ||||||
39,578 | ConocoPhillips | 2,695 | ||||||
17,730 | Exxon Mobil Corp. | 1,297 | ||||||
12,757 | Hess Corp. | 977 | ||||||
22,587 | Marathon Oil Corp. | 836 | ||||||
27,881 | Occidental Petroleum Corp. | 2,735 | ||||||
16,011 | ||||||||
Integrated Telecommunication Services — 1.37% |
| |||||||
254,198 | AT&T, Inc. | 7,468 | ||||||
121,485 | Verizon Communications, Inc. | 4,347 | ||||||
11,815 | ||||||||
Internet Software & Services — 0.16% |
| |||||||
30,907 | eBay, Inc. (a) | 860 | ||||||
32,235 | Yahoo!, Inc. (a) | 536 | ||||||
1,396 | ||||||||
Investment Banking & Brokerage — 0.57% |
| |||||||
44,170 | Morgan Stanley | 1,202 | ||||||
22,192 | The Goldman Sachs Group, Inc. | 3,732 | ||||||
4,934 | ||||||||
Life & Health Insurance — 0.11% |
| |||||||
1,153 | Aflac, Inc. | 65 | ||||||
19,399 | MetLife, Inc. | 862 | ||||||
927 | ||||||||
Life Sciences Tools & Services — 0.11% |
| |||||||
17,541 | Thermo Electron Corp. (a) | 971 | ||||||
Managed Health Care — 0.38% |
| |||||||
17,176 | Aetna, Inc. | 524 | ||||||
48,935 | UnitedHealth Group, Inc. | 1,767 | ||||||
17,147 | WellPoint, Inc. (a) | 975 | ||||||
3,266 | ||||||||
Movies & Entertainment — 0.74% |
| |||||||
77,388 | News Corp., Class – A | 1,127 | ||||||
84,456 | The Walt Disney Co. | 3,168 | ||||||
38,785 | Time Warner, Inc. | 1,248 | ||||||
21,093 | Viacom, Inc., Class – B | 835 | ||||||
6,378 | ||||||||
Multi-line Insurance — 0.06% |
| |||||||
13,610 | Loews Corp. | 529 | ||||||
Multi-Utilities — 0.30% |
| |||||||
25,490 | Dominion Resources, Inc. | 1,089 | ||||||
17,037 | PG&E Corp. | 815 | ||||||
21,966 | Public Service Enterprise Group, Inc. | 699 | ||||||
2,603 | ||||||||
See accompanying notes to financial statements
10
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Oil & Gas Equipment & Services — 0.30% |
| |||||||
13,492 | Baker Hughes, Inc. | $ | 771 | |||||
17,959 | National Oilwell Varco, Inc. | 1,208 | ||||||
7,500 | Schlumberger Ltd. | 626 | ||||||
2,605 | ||||||||
Oil & Gas Exploration & Production — 0.67% |
| |||||||
21,252 | Anadarko Petroleum Corp. | 1,619 | ||||||
16,438 | Apache Corp. | 1,960 | ||||||
28,214 | Chesapeake Energy Corp. | 731 | ||||||
19,187 | Devon Energy Corp. | 1,506 | ||||||
5,816 | ||||||||
Oil & Gas Storage & Transportation — 0.04% |
| |||||||
14,875 | The Williams Cos., Inc. | 368 | ||||||
Other Diversified Financial Services — 2.00% |
| |||||||
431,541 | Bank of America Corp. | 5,757 | ||||||
909,574 | Citigroup, Inc. (a) | 4,302 | ||||||
171,184 | JPMorgan Chase & Co. | 7,262 | ||||||
17,321 | ||||||||
Packaged Foods & Meats — 0.31% |
| |||||||
11,614 | General Mills, Inc. | 413 | ||||||
1,208 | Kellogg Co. | 62 | ||||||
69,176 | Kraft Foods, Inc. | 2,180 | ||||||
2,655 | ||||||||
Pharmaceuticals — 2.38% |
| |||||||
6,581 | Abbott Laboratories | 315 | ||||||
74,143 | Bristol-Myers Squibb Co. | 1,963 | ||||||
33,592 | Eli Lilly & Co. | 1,177 | ||||||
100,789 | Johnson & Johnson | 6,234 | ||||||
134,040 | Merck & Co., Inc. | 4,831 | ||||||
346,880 | Pfizer, Inc. | 6,074 | ||||||
20,594 | ||||||||
Property & Casualty Insurance — 1.07% |
| |||||||
12,295 | ACE Ltd. | 765 | ||||||
74,406 | Berkshire Hathaway, Inc., Class – B (a) | 5,961 | ||||||
23,345 | The Allstate Corp. | 744 | ||||||
13,055 | The Chubb Corp. | 779 | ||||||
17,828 | The Travelers Cos., Inc. | 993 | ||||||
9,242 | ||||||||
Publishing — 0.05% |
| |||||||
10,927 | Thomson Reuters Corp. | 407 | ||||||
Railroads — 0.45% |
| |||||||
16,860 | CSX Corp. | 1,089 | ||||||
16,052 | Norfolk Southern Corp. | 1,009 | ||||||
19,038 | Union Pacific Corp. | 1,764 | ||||||
3,862 | ||||||||
Shares or | Security | Value (000) | ||||||
Regional Banks — 0.25% |
| |||||||
30,033 | BB&T Corp. | $ | 789 | |||||
22,507 | PNC Financial Services Group, Inc. | 1,367 | ||||||
2,156 | ||||||||
Retail REITs — 0.05% |
| |||||||
3,926 | Simon Property Group, Inc. | 391 | ||||||
1 | The Macerich Co. | — | ||||||
391 | ||||||||
Semiconductors — 0.29% |
| |||||||
75,465 | Intel Corp. | 1,587 | ||||||
28,965 | Texas Instruments, Inc. | 941 | ||||||
2,528 | ||||||||
Soft Drinks — 0.40% |
| |||||||
29,586 | PepsiCo, Inc. | 1,933 | ||||||
23,038 | The Coca-Cola Co. | 1,515 | ||||||
3,448 | ||||||||
Specialized Finance — 0.10% |
| |||||||
2,773 | CME Group, Inc. | 892 | ||||||
Specialized REITs — 0.01% |
| |||||||
581 | Public Storage | 59 | ||||||
Steel — 0.04% |
| |||||||
7,738 | Nucor Corp. | 339 | ||||||
Systems Software — 0.41% |
| |||||||
109,335 | Microsoft Corp. | 3,053 | ||||||
31,003 | Symantec Corp. (a) | 519 | ||||||
3,572 | ||||||||
Tobacco — 0.25% |
| |||||||
37,639 | Altria Group, Inc. | 927 | ||||||
12,695 | Philip Morris International, Inc. | 743 | ||||||
14,386 | Reynolds American, Inc. | 469 | ||||||
2,139 | ||||||||
Wireless Telecommunication Services — 0.06% |
| |||||||
127,558 | Sprint Nextel Corp. (a) | 540 | ||||||
Total SSgA Funds Management, Inc. | 186,730 | |||||||
Total Common Stocks | 709,498 | |||||||
Corporate Bonds — 0.90% |
| |||||||
PIMCO — 0.90% |
| |||||||
Automobiles — 0.27% |
| |||||||
$ | 1,300 | Daimler Finance North America LLC, 6.50%, 11/15/13 | 1,472 | |||||
831 | Ford Motor Co., | 829 | ||||||
2,301 | ||||||||
Computers & Peripherals — 0.05% |
| |||||||
400 | Hewlett-Packard Co., 1.34%, 5/27/11 (b) | 402 | ||||||
See accompanying notes to financial statements
11
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Security | Value (000) | ||||||
Corporate Bonds (continued) |
| |||||||
PIMCO (continued) |
| |||||||
Consumer Finance — 0.06% |
| |||||||
$ | 100 | SLM Corp., MTN, | $ | 102 | ||||
500 | SLM Corp., Series A, MTN, | 450 | ||||||
552 | ||||||||
Diversified Financial Services — 0.18% |
| |||||||
100 | Citigroup, Inc., | 104 | ||||||
600 | Citigroup, Inc., | 745 | ||||||
400 | Goldman Sachs Group, Inc., | 408 | ||||||
200 | Goldman Sachs Group, Inc., | 193 | ||||||
100 | Goldman Sachs Group, Inc., | 96 | ||||||
1,546 | ||||||||
Diversified Telecommunication Services — 0.06% |
| |||||||
500 | Verizon Communications, Inc., | 506 | ||||||
Electric Utilities — 0.14% |
| |||||||
1,200 | IPALCO Enterprises, Inc., | 1,245 | ||||||
Energy Equipment & Services — 0.01% |
| |||||||
100 | El Paso Pipeline Partners Operating Co. LLC, | 105 | ||||||
Insurance — 0.02% |
| |||||||
100 | American International Group, Inc., MTN, | 98 | ||||||
100 | American International Group, Inc., | 99 | ||||||
197 | ||||||||
Real Estate Investment Trusts — 0.11% |
| |||||||
900 | Weyerhaeuser Co., | 951 | ||||||
Total Corporate Bonds | 7,805 | |||||||
Asset Backed Securities — 0.30% |
| |||||||
PIMCO — 0.30% |
| |||||||
362 | Bear Stearns Asset Backed Securities Trust, | 348 |
Principal | Security | Value (000) | ||||||
$ | 314 | Carrington Mortgage Loan Trust, | $ | 303 | ||||
270 | Countrywide Asset-Backed Certificates, | 266 | ||||||
356 | Morgan Stanley Capital, Inc., | 309 | ||||||
198 | Nationstar Home Equity Loan Trust, | 194 | ||||||
252 | SLM Student Loan Trust, | 251 | ||||||
661 | Small Business Administration Participation Certificates, | 710 | ||||||
32 | Small Business Administration Participation Certificates, | 34 | ||||||
170 | Wells Fargo Home Equity Trust, | 170 | ||||||
Total Asset Backed Securities | 2,585 | |||||||
Collateralized Mortgage Obligations — 3.06% |
| |||||||
PIMCO — 3.06% |
| |||||||
136 | American Home Mortgage Investment Trust, Series 2004-3, Class 5A, | 120 | ||||||
14 | American Home Mortgage Investment Trust, Series 2005-2, Class 4A1, | 12 | ||||||
80 | Banc of America Commercial Mortgage, Inc., Series 2006-5, Class A4, | 84 | ||||||
720 | Banc of America Funding Corp., | 724 | ||||||
676 | Banc of America Funding Corp., | 656 | ||||||
18 | Banc of America Mortgage Securities, Inc., | 14 | ||||||
77 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2000-2, Class A1, | 77 |
See accompanying notes to financial statements
12
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Security | Value (000) | ||||||
Collateralized Mortgage Obligations (continued) |
| |||||||
PIMCO (continued) |
| |||||||
$ | 151 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2003-5, Class 2A1, | $ | 149 | ||||
81 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2004-1, Class 22A1, | 74 | ||||||
617 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2004-6, Class 2A1, | 522 | ||||||
23 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2004-9, Class 22A1, | 23 | ||||||
348 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2005-9, Class A1, | 311 | ||||||
854 | Bear Stearns ALT-A Trust, | 658 | ||||||
700 | Citicorp Mortgage Securities, Inc., | 691 | ||||||
485 | Citigroup Mortgage Loan Trust, Inc., | 434 | ||||||
47 | Citigroup Mortgage Loan Trust, Inc., | 44 | ||||||
118 | Countrywide Alternative Loan Trust, | 120 | ||||||
666 | Countrywide Alternative Loan Trust, | 441 | ||||||
25 | Countrywide Alternative Loan Trust, | 15 | ||||||
25 | Countrywide Alternative Loan Trust, | 18 | ||||||
29 | Countrywide Alternative Loan Trust, | 18 | ||||||
24 | Countrywide Alternative Loan Trust, | 11 | ||||||
79 | Countrywide Home Loans, | 46 |
Principal | Security | Value (000) | ||||||
$ | 837 | Countrywide Home Loans, | $ | 531 | ||||
356 | Countrywide Home Loans, | 241 | ||||||
817 | Countrywide Home Loans, | 553 | ||||||
1,212 | Countrywide Home Loans, | 966 | ||||||
26 | Fannie Mae, | 29 | ||||||
574 | Fannie Mae, | 578 | ||||||
16 | Freddie Mac, | 16 | ||||||
1,584 | Freddie Mac, | 1,593 | ||||||
459 | GMAC Mortgage Corp. Loan Trust, | 435 | ||||||
164 | Government National Mortgage Association, | 165 | ||||||
3,910 | Government National Mortgage Association, | 3,901 | ||||||
3,961 | Government National Mortgage Association, | 3,952 | ||||||
1,374 | Government National Mortgage Association, | 1,383 | ||||||
810 | Greenpoint Mortgage Funding Trust, | 540 | ||||||
624 | GSR Mortgage Loan Trust, | 610 |
See accompanying notes to financial statements
13
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Security | Value (000) | ||||||
Collateralized Mortgage Obligations (continued) |
| |||||||
PIMCO (continued) |
| |||||||
$ | 749 | HarborView Mortgage Loan Trust, | $ | 487 | ||||
305 | JPMorgan Mortgage Trust, | 295 | ||||||
1,263 | Master Adjustable Rate Mortgages Trust, | 992 | ||||||
398 | MLCC Mortgage Investors, Inc., | 361 | ||||||
80 | Morgan Stanley Capital I, | 85 | ||||||
589 | Nomura Asset Acceptance Corp., | 449 | ||||||
472 | Structured Adjustable Rate Mortgage Loan Trust, Series 2004-5, Class 3A2, | 439 | ||||||
185 | WaMu Mortgage Pass-Through Certificates, | 155 | ||||||
398 | WaMu Mortgage Pass-Through Certificates, | 341 | ||||||
1,000 | Wamu Mortgage Pass-Through Certificates, Series 2005-AR4, Class A5, | 832 | ||||||
564 | WaMu Mortgage Pass-Through Certificates, | 472 | ||||||
9 | Washington Mutual MSC MortgageThrough Certificates, | 8 | ||||||
600 | Wells Fargo Mortgage Backed Securities Trust, Series 2005-AR16, Class 4A2, | 504 | ||||||
284 | Wells Fargo Mortgage Backed Securities Trust, Series 2005-AR2, Class 2A2, | 262 | ||||||
Total Collateralized Mortgage Obligations | 26,437 | |||||||
Principal | Security | Value (000) | ||||||
Certificates of Deposit — 0.11% |
| |||||||
PIMCO — 0.11% |
| |||||||
$ | 900 | Intesa Sanpaolo New York, | $ | 903 | ||||
Total Certificates of Deposit | 903 | |||||||
Global Bonds — 0.78% |
| |||||||
PIMCO — 0.78% |
| |||||||
Denmark — 0.31% |
| |||||||
800 | Bundesrepublik Deutschland, Series 7, | 1,187 | ||||||
700 | Bundesrepublik Deutschland, Series 7, | 1,023 | ||||||
300 | Bundesrepublik Deutschland, Series 8, | 443 | ||||||
2,653 | ||||||||
Ireland — 0.15% |
| |||||||
1,000 | Depfa ACS Bank, MTN, | 1,321 | ||||||
Netherlands — 0.09% |
| |||||||
300 | Deutsche Telekom International Finance BV, Series E, MTN, | 506 | ||||||
200 | Rabobank Nederland, MTN, | 253 | ||||||
759 | ||||||||
Norway — 0.11% |
| |||||||
5,323 | Norwegian Government Bond, | 995 | ||||||
United States — 0.12% |
| |||||||
600 | Citigroup, Inc., Series E, MTN, | 790 | ||||||
200 | Goldman Sachs Group, Inc., | 259 | ||||||
1,049 | ||||||||
Total Global Bonds | 6,777 | |||||||
Municipal Bonds — 0.29% |
| |||||||
PIMCO — 0.29% |
| |||||||
California — 0.16% |
| |||||||
100 | California State, GO, | 101 | ||||||
1,000 | Irvine Ranch California Water District Joint Powers Agency Revenue, | 1,014 | ||||||
300 | Irvine Ranch California Water District Joint Powers Agency Revenue, | 304 | ||||||
1,419 | ||||||||
See accompanying notes to financial statements
14
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Security | Value (000) | ||||||
Municipal Bonds (continued) |
| |||||||
PIMCO (continued) |
| |||||||
Illinois — 0.12% |
| |||||||
$ | 1,000 | Illinois State, GO, | $ | 1,000 | ||||
Washington — 0.01% |
| |||||||
100 | Port Seattle Washington Revenue, Series B1, | 106 | ||||||
Total Municipal Bonds | 2,525 | |||||||
U.S. Government Agency Mortgages — 3.61% |
| |||||||
PIMCO — 3.61% |
| |||||||
34 | Fannie Mae, Pool #886660, | 36 | ||||||
335 | Fannie Mae, Pool #900980, | 365 | ||||||
44 | Fannie Mae, Pool #928066, | 47 | ||||||
113 | Fannie Mae, Pool #930631, | 116 | ||||||
240 | Fannie Mae, Pool #932390, | 246 | ||||||
429 | Fannie Mae, Pool #935313, | 441 | ||||||
484 | Fannie Mae, Pool #995672, | 497 | ||||||
149 | Fannie Mae, Pool #AA3414, | 153 | ||||||
118 | Fannie Mae, Pool #AA4463, | 122 | ||||||
55 | Fannie Mae, Pool #AA7165, | 56 | ||||||
203 | Fannie Mae, Pool #AA9845, | 209 | ||||||
209 | Fannie Mae, Pool #AC4815, | 215 | ||||||
155 | Fannie Mae, Pool #AC5442, | 160 | ||||||
258 | Fannie Mae, Pool #AC6815, | 265 | ||||||
1,947 | Fannie Mae, Pool #AD2287, | 2,013 | ||||||
3,630 | Fannie Mae, Pool #AD3808, | 3,729 | ||||||
254 | Fannie Mae, Pool #AD5234, | 261 | ||||||
31 | Fannie Mae, Pool #AD5673, | 32 | ||||||
98 | Fannie Mae, Pool #AD7793, | 101 | ||||||
132 | Fannie Mae, Pool #AD9887, | 135 |
Principal | Security | Value (000) | ||||||
$ | 572 | Fannie Mae, Pool #AE4414, | $ | 570 | ||||
56 | Fannie Mae, Pool #AE5791, | 58 | ||||||
8,000 | Fannie Mae, Pool #AE9764, | 7,966 | ||||||
6,114 | Fannie Mae, Pool #AH1813, | 6,089 | ||||||
7,313 | Fannie Mae, Pool #MA0614, | 7,284 | ||||||
Total U.S. Government Agency Mortgages | 31,166 | |||||||
U.S. Treasury Obligations — 3.15% |
| |||||||
PIMCO — 3.12% |
| |||||||
210 | U.S. Treasury Bills, | 210 | ||||||
14,400 | U.S. Treasury Bills, | 14,389 | ||||||
7,390 | U.S. Treasury Bills, | 7,390 | ||||||
1,508 | U.S. Treasury Bills, | 1,507 | ||||||
759 | U.S. Treasury Bills, | 759 | ||||||
697 | U.S. Treasury Bills, | 697 | ||||||
247 | U.S. Treasury Bills, | 247 | ||||||
700 | U.S. Treasury Note, | 731 | ||||||
500 | U.S. Treasury Note, | 505 | ||||||
200 | U.S.Treasury Inflation Index Note, | 258 | ||||||
200 | U.S.Treasury Inflation Index Note, | 222 | ||||||
Total PIMCO | 26,915 | |||||||
SSgA Funds Management, Inc. — 0.03% |
| |||||||
100 | U.S. Treasury Bills, | 100 | ||||||
197 | U.S. Treasury Bills, | 197 | ||||||
Total SSgA Funds Management, Inc. | 297 | |||||||
Total U.S. Treasury Obligations | 27,212 | |||||||
Yankee Dollars — 0.70% |
| |||||||
PIMCO — 0.70% |
| |||||||
Aerospace & Defense — 0.07% |
| |||||||
600 | Waha Aerospace BV, | 598 | ||||||
See accompanying notes to financial statements
15
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares or | Security | Value (000) | ||||||
Yankee Dollars (continued) |
| |||||||
PIMCO (continued) |
| |||||||
Air Freight & Logistics — 0.01% |
| |||||||
$ | 100 | Intesa Sanpaolo SpA, | $ | 99 | ||||
Commercial Banks — 0.06% |
| |||||||
100 | Export-Import Bank of Korea, | 108 | ||||||
200 | Export-Import Bank of Korea, | 203 | ||||||
200 | Export-Import Bank of Korea, | 206 | ||||||
517 | ||||||||
Diversified Financial Services — 0.05% |
| |||||||
400 | TNK-BP Finance SA, Series 6, MTN, 7.88%, 3/13/18 | 454 | ||||||
Metals & Mining — 0.15% |
| |||||||
1,200 | Vale Overseas Ltd., | 1,326 | ||||||
Oil, Gas & Consumable Fuels — 0.05% |
| |||||||
400 | Petrobras International Finance Co., | 426 | ||||||
Real Estate Management & Development — 0.12% |
| |||||||
1,000 | Qatari Diar Finance QSC, | 995 | ||||||
Sovereign — 0.16% |
| |||||||
1,300 | State of Qatar, | 1,346 | ||||||
Wireless Telecommunication Services — 0.03% |
| |||||||
250 | Deutsche Telekom International Finance BV, | 253 | ||||||
Total Yankee Dollars | 6,014 | |||||||
Time Deposits — 1.26% |
| |||||||
AllianceBernstein L.P. — 0.82% |
| |||||||
7,080 | State Street Liquidity Management Control System Time Deposit, | 7,080 | ||||||
Institutional Capital, LLC — 0.44% |
| |||||||
3,818 | State Street Liquidity Management Control System Time Deposit, | 3,818 | ||||||
Total Time Deposits | 10,898 | |||||||
Mutual Funds — 0.51% |
| |||||||
PIMCO — 0.31% |
| |||||||
2,696,127 | SSgA U.S. Government Money Market 0.00% (b) | 2,696 | ||||||
Shares or | Security | Value (000) | ||||||
SSgA Funds Management, Inc. — 0.20% |
| |||||||
1,723,884 | Alliance Money Market Fund Prime Portfolio, 0.16% (b) | $ | 1,724 | |||||
Total Mutual Funds | 4,420 | |||||||
Put Options Purchased — 0.00% |
| |||||||
PIMCO — 0.00% |
| |||||||
145 | S&P 500 Future Expiring March, 2010 at $525 | 2 | ||||||
112 | S&P 500 Future Expiring March, 2011 at $450 | 1 | ||||||
Total Put Options Purchased | 3 | |||||||
Repurchase Agreements — 2.13% |
| |||||||
PIMCO — 2.13% |
| |||||||
14,300 | Credit Suisse Securities, 0.23%, 1/3/11, (Purchased on 12/31/10, proceeds at maturity $14,300,274, collateralized by U.S. Treasury Note, | 14,300 | ||||||
4,100 | Deutsche Bank, 0.20%, 1/3/11, (Purchased on 12/31/10, proceeds at maturity $4,100,068, collateralized by U.S. Treasury Bond, | 4,100 | ||||||
Total Repurchase Agreements | 18,400 | |||||||
Total Investments Before TBA Sale Commitments | 854,643 | |||||||
TBA Sale Commitments (see summary below) — (3.24)% | (28,025 | ) | ||||||
Other assets in excess of | 37,631 | |||||||
Net Assets — 100.00% | $ | 864,249 | ||||||
TBA Sale Commitments (f) — (3.24)% |
| |||||||
PIMCO — (3.24)% |
| |||||||
$ | (6,000 | ) | Fannie Mae, 40 YR TBA, | $ | (6,142 | ) | ||
(22,000 | ) | Fannie Mae, 30 YR TBA, | (21,883 | ) | ||||
Total TBA Sale Commitments | $ | (28,025 | ) | |||||
See accompanying notes to financial statements
16
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Represents non-income producing security. |
(b) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2010. |
(c) | The principal amount is disclosed in local currency and the value is disclosed in U.S. Dollars. |
(d) | Rate disclosed represents effective yield at purchase. |
(e) | All or part of this security has been pledged as collateral for various derivative contracts held by the Portfolio. |
(f) | Represents a “to-be-announced” transaction. The Portfolio has committed to purchasing (selling) securities for which all specific information is not available at this time. (See Note 2 in Notes to Financial Statements). |
ADR — American Depositary Receipt
GO — General Obligation
MTN — Medium Term Note
REITs — Real Estate Investment Trusts
TBA — Security is subject to delayed delivery.
Futures
PIMCO
Number of | Futures Contracts Positions | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
242 | S&P 500 E-Mini Future | $ | 15,161 | Mar-11 | $ | 581 | ||||||||||
407 | S&P 500 Future | 127,493 | Mar-11 | 4,379 | ||||||||||||
$ | 4,960 | |||||||||||||||
SSgA Funds Management, Inc.
Number of | Futures Contracts Positions | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
54 | S&P 500 E-mini Future | $ | 3,383 | Mar-11 | $ | 46 | ||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | 5,006 | ||||||||||||||
Currency Contracts
PIMCO
Contract | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/10 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
Currencies Purchased | ||||||||||||||||||||||
700,000 | Australian Dollar | Royal Bank of Scotland | 1/28/2011 | $ | 666 | $ | 713 | $ | 47 | |||||||||||||
824,145 | Brazilian Real | HSBC | 2/2/2011 | 631 | 652 | 21 | ||||||||||||||||
169,900 | Brazilian Real | JP Morgan Chase | 2/2/2011 | 90 | 94 | 4 | ||||||||||||||||
156,375 | Brazilian Real | Citibank | 3/2/2011 | 483 | 490 | 7 | ||||||||||||||||
1,090,465 | Brazilian Real | HSBC | 3/2/2011 | 100 | 101 | 1 | ||||||||||||||||
7,800,000 | Chinese Renminbi | Morgan Stanley | 9/14/2011 | 1,400 | 1,420 | 20 | ||||||||||||||||
9,318,400 | Chinese Renminbi | Royal Bank of Scotland | 9/8/2015 | 1,200 | 1,221 | 21 | ||||||||||||||||
8,960,000 | Chinese Renminbi | Royal Bank of Scotland | 9/8/2015 | 1,400 | 1,402 | 2 | ||||||||||||||||
1,718,000 | Danish Kroner | Royal Bank of Canada | 2/7/2011 | 320 | 308 | (12 | ) |
See accompanying notes to financial statements
17
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Currency Contracts (continued)
PIMCO (continued)
Contract | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/10 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
Currencies Purchased (continued) | ||||||||||||||||||||||
400 | Euro | Credit Suisse | 1/25/2011 | $ | 1 | $ | 1 | $ | — | |||||||||||||
10,000,000 | Indian Rupee | Royal Bank of Scotland | 3/9/2011 | 222 | 221 | (1 | ) | |||||||||||||||
19,242,400 | Indian Rupee | Barclays Bank | 3/9/2011 | 426 | 425 | (1 | ) | |||||||||||||||
3,255,000 | Indian Rupee | JP Morgan Chase | 3/9/2011 | 70 | 72 | 2 | ||||||||||||||||
280,000 | Malaysian Ringgit | Barclays Bank | 2/7/2011 | 90 | 91 | 1 | ||||||||||||||||
250,000 | Malaysian Ringgit | Barclays Bank | 2/7/2011 | 352 | 353 | 1 | ||||||||||||||||
240,000 | Malaysian Ringgit | Citibank | 2/7/2011 | 81 | 81 | — | ||||||||||||||||
1,091,920 | Malaysian Ringgit | Citibank | 2/7/2011 | 110 | 113 | 3 | ||||||||||||||||
348,700 | Malaysian Ringgit | Royal Bank of Scotland | 2/7/2011 | 78 | 78 | — | ||||||||||||||||
9,776,000 | Norwegian Krone | Citibank | 2/7/2011 | 1,656 | 1,673 | 17 | ||||||||||||||||
400,000 | Norwegian Krone | Citibank | 2/7/2011 | 66 | 68 | 2 | ||||||||||||||||
1,000,000 | Norwegian Krone | Citibank | 2/7/2011 | 164 | 171 | 7 | ||||||||||||||||
150,000 | Singapore Dollar | Bank of America | 3/9/2011 | 111 | 117 | 6 | ||||||||||||||||
100,000 | Singapore Dollar | Bank of America | 3/9/2011 | 141 | 148 | 7 | ||||||||||||||||
190,000 | Singapore Dollar | Bank of America | 3/9/2011 | 112 | 117 | 5 | ||||||||||||||||
120,000 | Singapore Dollar | Citibank | 3/9/2011 | 60 | 62 | 2 | ||||||||||||||||
150,000 | Singapore Dollar | JP Morgan Chase | 3/9/2011 | 74 | 78 | 4 | ||||||||||||||||
1,056,368 | Singapore Dollar | JP Morgan Chase | 3/9/2011 | 89 | 94 | 5 | ||||||||||||||||
79,147 | Singapore Dollar | JP Morgan Chase | 6/9/2011 | 811 | 823 | 12 | ||||||||||||||||
Total Currencies Purchased | $ | 11,004 | $ | 11,187 | $ | 183 | ||||||||||||||||
Currencies Sold | ||||||||||||||||||||||
1,246,840 | Brazilian Real | Royal Bank of Canada | 2/2/2011 | $ | 723 | $ | 746 | $ | (23 | ) | ||||||||||||
1,090,465 | Brazilian Real | HSBC | 4/4/2011 | 623 | 645 | (22 | ) | |||||||||||||||
339,000 | British Sterling Pound | Royal Bank of Scotland | 3/21/2011 | 530 | 528 | 2 | ||||||||||||||||
11,000 | Canadian Dollar | HSBC | 2/17/2011 | 11 | 11 | — | ||||||||||||||||
9,310,000 | Chinese Renminbi | Royal Bank of Scotland | 9/14/2011 | 1,400 | 1,418 | (18 | ) | |||||||||||||||
1,743,000 | Danish Kroner | Royal Bank of Canada | 2/7/2011 | 324 | 312 | 12 | ||||||||||||||||
798,000 | Euro | Citibank | 1/6/2011 | 5,083 | 5,020 | 63 | ||||||||||||||||
1,022,000 | Euro | Barclays Bank | 1/25/2011 | 1,952 | 1,991 | (39 | ) | |||||||||||||||
196,000 | Euro | Citibank | 1/25/2011 | 1,109 | 1,066 | 43 | ||||||||||||||||
350,000 | Euro | JP Morgan Chase | 1/25/2011 | 485 | 468 | 17 | ||||||||||||||||
3,757,000 | Euro | Royal Bank of Scotland | 1/25/2011 | 1,434 | 1,365 | 69 | ||||||||||||||||
1,490,000 | Euro | Royal Bank of Scotland | 1/25/2011 | 278 | 262 | 16 | ||||||||||||||||
20,403,000 | Japanese Yen | Barclays Bank | 1/14/2011 | 296 | 306 | (10 | ) | |||||||||||||||
10,201,000 | Japanese Yen | Citibank | 1/14/2011 | 119 | 123 | (4 | ) | |||||||||||||||
17,138,000 | Japanese Yen | Goldman Sachs | 1/14/2011 | 203 | 211 | (8 | ) | |||||||||||||||
10,000,000 | Japanese Yen | Royal Bank of Scotland | 1/14/2011 | 243 | 252 | (9 | ) | |||||||||||||||
24,803,000 | Japanese Yen | Royal Bank of Scotland | 1/14/2011 | 121 | 126 | (5 | ) | |||||||||||||||
Total Currencies Sold | $ | 14,934 | $ | 14,850 | $ | 84 | ||||||||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | 267 | ||||||||||||||||||||
See accompanying notes to financial statements
18
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Written Options
PIMCO
Number of | Security Description | Exercise Price | Premium (000) | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
(4 | ) | S&P 500 Future Call | $ | 1,275 | $ | (8 | ) | $ | (8 | ) | Jan-11 | $ | — | |||||||||||
(4 | ) | S&P 500 Future Put | 1,190 | (10 | ) | (4 | ) | Jan-11 | 6 | |||||||||||||||
(1,020 | ) | Put – Interest Rate Option U.S. Dollar 2 – Year Interest | 2 | (61 | ) | (138 | ) | Sep-12 | (77 | ) | ||||||||||||||
(29 | ) | Call – U.S. Treasury 10 Year Future Option | 123 | (7 | ) | (5 | ) | Jan-11 | 2 | |||||||||||||||
(29 | ) | Put – U.S. Treasury 10 Year Future Option | 118 | (20 | ) | (7 | ) | Jan-11 | 13 | |||||||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | (106 | ) | $ | (162 | ) | $ | (56 | ) | |||||||||||||||
Interest Rate SWAP Agreements
PIMCO
Swap Agreements | Notional Amount (000) | Swap Premiums Paid (000) | Amount at Value (000) | Expiration Date | Fixed Rate | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Interest Rate Swap Agreement with Goldman Sachs, based on the London Interbank Offer Rate Index | $ | 2,100 | $ | — | $ | 20 | 11/2/20 | 0.29 | % | $ | 20 | |||||||||||||
Interest Rate Swap Agreement with Citibank NA, based on the London Interbank Offer Rate Index | 800 | — | 24 | 11/2/15 | 1.45 | % | 24 | |||||||||||||||||
Interest Rate Swap Morgan Stanley Capital Services, Inc., based on the London Interbank Offer Rate Index | 700 | — | 21 | 11/2/15 | 1.45 | % | 21 | |||||||||||||||||
Interest Rate Swap Agreement with Barclays Bank, based on the London Interbank Offer Rate Index | 4,500 | 9 | 245 | 12/15/20 | 2.75 | % | 236 | |||||||||||||||||
Interest Rate Swap Agreement with HSBC Bank USA, based on the Brazil Cetip Interbank Deposit Rate Index | 11,000 | 45 | 90 | 1/2/12 | 11.36 | % | 45 | |||||||||||||||||
Interest Rate Swap Agreement with Barclays Bank, based on the Brazil Cetip Interbank Deposit Rate Index | 4,600 | 23 | 21 | 1/2/14 | 11.99 | % | (2 | ) | ||||||||||||||||
$ | 77 | $ | 421 | $ | 344 | |||||||||||||||||||
See accompanying notes to financial statements
19
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks — 99.18% |
| |||||||
Jennison Associates LLC — 36.36% |
| |||||||
Aerospace & Defense — 1.44% |
| |||||||
33,666 | Precision Castparts Corp. | $ | 4,687 | |||||
41,691 | The Boeing Co. | 2,721 | ||||||
36,960 | United Technologies Corp. | 2,909 | ||||||
10,317 | ||||||||
Air Freight & Logistics — 0.60% |
| |||||||
16,958 | C.H. Robinson Worldwide, Inc. | 1,360 | ||||||
24,358 | Expeditors International of Washington, Inc. | 1,330 | ||||||
21,884 | United Parcel Service, Inc., Class – B | 1,588 | ||||||
4,278 | ||||||||
Apparel Retail — 0.06% |
| |||||||
11,988 | Urban Outfitters, Inc. (a) | 429 | ||||||
Apparel, Accessories & Luxury Goods — 1.44% |
| |||||||
69,452 | Coach, Inc. | 3,841 | ||||||
16,280 | LVMH Moet Hennessy Louis Vuitton SA – ADR | 540 | ||||||
26,580 | Phillips-Van Heusen Corp. | 1,675 | ||||||
38,057 | Polo Ralph Lauren Corp. | 4,221 | ||||||
10,277 | ||||||||
Application Software — 0.66% |
| |||||||
35,901 | Salesforce.com, Inc. (a) | 4,739 | ||||||
Automobile Manufacturers — 0.16% |
| |||||||
45,434 | Bayerische Motoren Werke AG – ADR | 1,185 | ||||||
Biotechnology — 1.08% |
| |||||||
71,736 | Celgene Corp. (a) | 4,242 | ||||||
35,749 | Gilead Sciences, Inc. (a) | 1,296 | ||||||
62,932 | Vertex Pharmaceuticals, Inc. (a) | 2,205 | ||||||
7,743 | ||||||||
Brewers — 0.51% |
| |||||||
64,192 | Anheuser-Busch Inbev NV – Sponsored ADR | 3,665 | ||||||
Communications Equipment — 1.90% |
| |||||||
176,885 | Cisco Systems, Inc. (a) | 3,579 | ||||||
150,435 | Juniper Networks, Inc. (a) | 5,554 | ||||||
89,560 | Qualcomm, Inc. | 4,432 | ||||||
13,565 | ||||||||
Computer Hardware — 3.07% |
| |||||||
39,235 | Apple, Inc. (a) | 12,656 | ||||||
17,226 | Hewlett-Packard Co. | 725 | ||||||
58,266 | International Business Machines Corp. | 8,551 | ||||||
21,932 | ||||||||
Computer Storage & Peripherals — 0.81% |
| |||||||
105,841 | NetApp, Inc. (a) | 5,817 | ||||||
Shares | Security | Value (000) | ||||||
Construction & Farm Machinery & Heavy Trucks — 0.53% |
| |||||||
45,455 | Deere & Co. | $ | 3,775 | |||||
Data Processing & Outsourced Services — 1.00% |
| |||||||
21,355 | MasterCard, Inc., Class – A | 4,786 | ||||||
33,427 | Visa, Inc., Class – A | 2,353 | ||||||
7,139 | ||||||||
Electronic Equipment & Instruments — 0.69% |
| |||||||
119,102 | Agilent Technologies, Inc. (a) | 4,934 | ||||||
Fertilizers & Agricultural Chemicals — 0.36% |
| |||||||
37,086 | Monsanto Co. | 2,583 | ||||||
Food Retail — 0.58% |
| |||||||
81,612 | Whole Foods Market, Inc. (a) | 4,129 | ||||||
Footwear — 0.88% |
| |||||||
73,487 | NIKE, Inc., Class – B | 6,277 | ||||||
General Merchandise Stores — 0.93% |
| |||||||
94,305 | Dollar General Corp. (a) | 2,892 | ||||||
62,842 | Target Corp. | 3,779 | ||||||
6,671 | ||||||||
Health Care Services — 1.14% |
| |||||||
86,322 | Express Scripts, Inc. (a) | 4,666 | ||||||
56,475 | Medco Health Solutions, Inc. (a) | 3,460 | ||||||
8,126 | ||||||||
Hotels, Resorts & Cruise Lines — 0.63% |
| |||||||
109,121 | Marriott International, Inc., Class – A | 4,533 | ||||||
Hypermarkets & Super Centers — 0.56% |
| |||||||
55,063 | Costco Wholesale Corp. | 3,976 | ||||||
Industrial Machinery — 0.49% |
| |||||||
74,353 | Ingersoll-Rand PLC | 3,501 | ||||||
Integrated Oil & Gas — 0.82% |
| |||||||
59,564 | Occidental Petroleum Corp. | 5,843 | ||||||
Internet Retail — 1.70% |
| |||||||
67,643 | Amazon.com, Inc. (a) | 12,176 | ||||||
Internet Software & Services — 2.04% |
| |||||||
40,233 | Baidu, Inc., Class – A – Sponsored ADR (a) | 3,884 | ||||||
12,561 | Google, Inc., Class – A (a) | 7,461 | ||||||
37,418 | Mail.ru Group Ltd. – Registered GDR (a)(b) | 1,347 | ||||||
86,200 | Tencent Holdings Ltd. – ADR | 1,890 | ||||||
14,582 | ||||||||
Investment Banking & Brokerage — 1.29% |
| |||||||
161,268 | Charles Schwab Corp. | 2,759 | ||||||
48,312 | Morgan Stanley | 1,315 | ||||||
30,509 | The Goldman Sachs Group, Inc. | 5,130 | ||||||
9,204 | ||||||||
See accompanying notes to financial statements
20
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Jennison Associates LLC (continued) |
| |||||||
IT Consulting & Other Services — 0.19% |
| |||||||
18,916 | Cognizant Technology Solutions Corp., Class – A (a) | $ | 1,386 | |||||
Life Sciences Tools & Services — 0.42% |
| |||||||
47,274 | Illumina, Inc. (a) | 2,994 | ||||||
Movies & Entertainment — 0.98% |
| |||||||
186,434 | The Walt Disney Co. | 6,993 | ||||||
Oil & Gas Equipment & Services — 1.12% |
| |||||||
95,799 | Schlumberger Ltd. | 7,999 | ||||||
Oil & Gas Exploration & Production — 0.45% |
| |||||||
26,800 | Apache Corp. | 3,195 | ||||||
Packaged Foods & Meats — 1.23% |
| |||||||
108,469 | Kraft Foods, Inc. | 3,418 | ||||||
42,978 | Mead Johnson Nutrition Co. | 2,675 | ||||||
87,691 | Unilever PLC – Sponsored ADR | 2,708 | ||||||
8,801 | ||||||||
Personal Products — 0.27% |
| |||||||
24,159 | The Estee Lauder Cos., Inc., Class – A | 1,950 | ||||||
Pharmaceuticals — 1.61% |
| |||||||
28,049 | Abbott Laboratories | 1,344 | ||||||
43,608 | Allergan, Inc. | 2,995 | ||||||
45,027 | Shire PLC – Sponsored ADR | 3,259 | ||||||
74,622 | Teva Pharmaceutical Industries Ltd. – Sponsored ADR | 3,890 | ||||||
11,488 | ||||||||
Railroads — 0.39% |
| |||||||
30,279 | Union Pacific Corp. | 2,806 | ||||||
Restaurants — 0.97% |
| |||||||
38,069 | McDonald’s Corp. | 2,922 | ||||||
124,010 | Starbucks Corp. | 3,985 | ||||||
6,907 | ||||||||
Semiconductors — 0.58% |
| |||||||
82,647 | Broadcom Corp., Class – A | 3,600 | ||||||
29,609 | Marvell Technology Group Ltd. (a) | 549 | ||||||
4,149 | ||||||||
Specialty Stores — 0.41% |
| |||||||
47,138 | Tiffany & Co. | 2,935 | ||||||
Systems Software — 1.95% |
| |||||||
195,183 | Oracle Corp. | 6,109 | ||||||
55,371 | Red Hat, Inc. (a) | 2,528 | ||||||
59,375 | Vmware, Inc., Class – A (a) | 5,279 | ||||||
13,916 | ||||||||
Wireless Telecommunication Services — 0.42% |
| |||||||
58,527 | American Tower Corp., Class – A (a) | 3,022 | ||||||
Total Jennison Associates LLC | 259,937 | |||||||
Shares | Security | Value (000) | ||||||
SsgA Funds Management, Inc. — 24.33% |
| |||||||
Advertising — 0.07% |
| |||||||
10,407 | Omnicom Group, Inc. | $ | 477 | |||||
Aerospace & Defense — 0.96% |
| |||||||
4,000 | General Dynamics Corp. | 284 | ||||||
21,802 | Honeywell International, Inc. | 1,159 | ||||||
2,100 | ITT Corp. | 109 | ||||||
1,300 | L-3 Communications Holdings, Inc. | 92 | ||||||
6,886 | Lockheed Martin Corp. | 481 | ||||||
5,636 | Precision Castparts Corp. | 785 | ||||||
1,800 | Rockwell Collins, Inc. | 105 | ||||||
17,525 | The Boeing Co. | 1,144 | ||||||
34,724 | United Technologies Corp. | 2,733 | ||||||
6,892 | ||||||||
Air Freight & Logistics — 0.32% |
| |||||||
1,922 | C.H. Robinson Worldwide, Inc. | 154 | ||||||
2,456 | Expeditors International of Washington, Inc. | 134 | ||||||
5,694 | FedEx Corp. | 529 | ||||||
20,304 | United Parcel Service, Inc. | 1,474 | ||||||
2,291 | ||||||||
Aluminum — 0.01% |
| |||||||
4,313 | Alcoa, Inc. | 66 | ||||||
Apparel Retail — 0.19% |
| |||||||
1,000 | Abercrombie & Fitch Co., Class – A | 58 | ||||||
1,100 | Aeropostale, Inc. (a) | 27 | ||||||
2,200 | American Eagle Outfitters, Inc. | 32 | ||||||
1,400 | Ross Stores, Inc. | 89 | ||||||
15,939 | The Gap, Inc. | 353 | ||||||
16,292 | The TJX Cos., Inc. | 723 | ||||||
1,400 | Urban Outfitters, Inc. (a) | 50 | ||||||
1,332 | ||||||||
Apparel, Accessories & Luxury Goods — 0.06% |
| |||||||
3,492 | Coach, Inc. | 193 | ||||||
600 | Fossil, Inc. (a) | 42 | ||||||
666 | Polo Ralph Lauren Corp. | 74 | ||||||
1,000 | V.F. Corp. | 86 | ||||||
395 | ||||||||
Application Software — 0.13% |
| |||||||
20,679 | Adobe Systems, Inc. (a) | 636 | ||||||
2,400 | Amdocs Ltd. (a) | 66 | ||||||
1,000 | ANSYS, Inc. (a) | 52 | ||||||
2,100 | Citrix Systems, Inc. (a) | 144 | ||||||
500 | FactSet Research Systems, Inc. | 47 | ||||||
945 | ||||||||
Asset Management & Custody Banks — 0.19% |
| |||||||
1,326 | BlackRock, Inc., Class – A | 253 | ||||||
1,000 | Federated Investors, Inc. | 26 | ||||||
5,931 | Franklin Resources, Inc. | 660 |
See accompanying notes to financial statements
21
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SsgA Funds Management, Inc. (continued) |
| |||||||
Asset Management & Custody Banks (continued) |
| |||||||
2,811 | Northern Trust Corp. | $ | 156 | |||||
1,700 | SEI Investments Co. | 40 | ||||||
3,000 | T. Rowe Price Group, Inc. | 194 | ||||||
1,000 | Waddell & Reed Financial, Inc., Class – A | 35 | ||||||
1,364 | ||||||||
Auto Parts & Equipment — 0.10% |
| |||||||
1,600 | Gentex Corp. | 47 | ||||||
17,993 | Johnson Controls, Inc. | 688 | ||||||
735 | ||||||||
Automobile Manufacturers — 0.22% |
| |||||||
94,055 | Ford Motor Co. (a) | 1,579 | ||||||
Automotive Retail — 0.03% |
| |||||||
1,000 | Advance Auto Parts, Inc. | 66 | ||||||
300 | AutoZone, Inc. (a) | 82 | ||||||
1,600 | O’Reilly Automotive, Inc. (a) | 97 | ||||||
245 | ||||||||
Biotechnology — 0.37% |
| |||||||
11,000 | Amgen, Inc. (a) | 604 | ||||||
13,177 | Celgene Corp. (a) | 779 | ||||||
5,874 | Genzyme Corp. (a) | 418 | ||||||
23,870 | Gilead Sciences, Inc. (a) | 865 | ||||||
2,666 | ||||||||
Cable & Satellite — 0.13% |
| |||||||
23,143 | DIRECTV, Class – A (a) | 924 | ||||||
Casinos & Gaming — 0.06% |
| |||||||
8,800 | Las Vegas Sands Corp. (a) | 404 | ||||||
Communications Equipment — 1.14% |
| |||||||
209,770 | Cisco Systems, Inc. (a) | 4,244 | ||||||
5,752 | Corning, Inc. | 111 | ||||||
14,927 | Juniper Networks, Inc. (a) | 551 | ||||||
65,021 | Qualcomm, Inc. | 3,218 | ||||||
8,124 | ||||||||
Computer & Electronics Retail — 0.06% |
| |||||||
12,669 | Best Buy Co., Inc. | 434 | ||||||
Computer Hardware — 2.57% |
| |||||||
25,708 | Apple, Inc. (a) | 8,292 | ||||||
67,709 | Dell, Inc. (a) | 918 | ||||||
66,216 | Hewlett-Packard Co. | 2,788 | ||||||
43,132 | International Business Machines Corp. | 6,330 | ||||||
1,900 | Teradata Corp. (a) | 78 | ||||||
18,406 | ||||||||
Computer Storage & Peripherals — 0.19% |
| |||||||
57,883 | EMC Corp. (a) | 1,326 | ||||||
900 | Lexmark International, Inc. (a) | 31 | ||||||
1,300 | Qlogic Corp. (a) | 22 | ||||||
1,379 | ||||||||
Shares | Security | Value (000) | ||||||
Construction & Engineering — 0.01% |
| |||||||
1,400 | Jacobs Engineering Group, Inc. (a) | $ | 64 | |||||
Construction & Farm Machinery & Heavy Trucks — 0.45% |
| |||||||
17,700 | Caterpillar, Inc. | 1,658 | ||||||
11,401 | Deere & Co. | 947 | ||||||
10,319 | PACCAR, Inc. | 592 | ||||||
3,197 | ||||||||
Consumer Electronics — 0.01% |
| |||||||
1,300 | Garmin Ltd. | 40 | ||||||
Consumer Finance — 0.18% |
| |||||||
29,850 | American Express Co. | 1,281 | ||||||
100 | Green Dot Corp., Class – A (a) | 6 | ||||||
1,287 | ||||||||
Data Processing & Outsourced Services — 0.46% |
| |||||||
20,026 | Automatic Data Processing, Inc. | 927 | ||||||
1,400 | Broadridge Financial Solutions, Inc. | 31 | ||||||
1,100 | Convergys Corp. (a) | 14 | ||||||
900 | Global Payments, Inc. | 42 | ||||||
1,100 | Lender Processing Services, Inc. | 32 | ||||||
2,721 | MasterCard, Inc., Class – A | 610 | ||||||
900 | NeuStar, Inc. (a) | 23 | ||||||
3,700 | Paychex, Inc. | 114 | ||||||
7,700 | The Western Union Co. | 143 | ||||||
1,900 | Total System Services, Inc. | 29 | ||||||
18,635 | Visa, Inc., Class – A | 1,312 | ||||||
3,277 | ||||||||
Department Stores — 0.08% |
| |||||||
10,060 | Kohl’s Corp. (a) | 547 | ||||||
Distillers & Vintners — 0.01% |
| |||||||
1,200 | Brown-Forman Corp., Class – B | 84 | ||||||
Distributors — 0.01% |
| |||||||
1,800 | Genuine Parts Co. | 92 | ||||||
Diversified Chemicals — 0.06% |
| |||||||
8,684 | E.I. du Pont de Nemours & Co. | 433 | ||||||
Diversified Metals & Mining — 0.26% |
| |||||||
13,292 | Freeport-McMoRan Copper & Gold, Inc. | 1,596 | ||||||
4,928 | Southern Copper Corp. | 240 | ||||||
1,836 | ||||||||
Diversified Support Services — 0.01% |
| |||||||
1,500 | Cintas Corp. | 42 | ||||||
800 | Copart, Inc. (a) | 30 | ||||||
72 | ||||||||
Drug Retail — 0.29% |
| |||||||
19,901 | CVS Caremark Corp. | 692 | ||||||
35,202 | Walgreen Co. | 1,371 | ||||||
2,063 | ||||||||
See accompanying notes to financial statements
22
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SsgA Funds Management, Inc. (continued) |
| |||||||
Education Services — 0.02% |
| |||||||
1,500 | Apollo Group, Inc., Class – A (a) | $ | 59 | |||||
700 | Career Education Corp. (a) | 15 | ||||||
400 | ITT Educational Services, Inc. (a) | 26 | ||||||
200 | Strayer Education, Inc. | 30 | ||||||
130 | ||||||||
Electrical Components & Equipment — 0.28% |
| |||||||
1,800 | AMETEK, Inc. | 71 | ||||||
1,900 | Cooper Industries PLC | 111 | ||||||
30,041 | Emerson Electric Co. | 1,717 | ||||||
700 | Hubbell, Inc., Class – B | 42 | ||||||
1,100 | Roper Industries, Inc. | 84 | ||||||
2,025 | ||||||||
Electronic Components — 0.02% |
| |||||||
2,000 | Amphenol Corp., Class – A | 106 | ||||||
600 | Dolby Laboratories, Inc., Class – A (a) | 40 | ||||||
146 | ||||||||
Electronic Equipment & Instruments — 0.02% |
| |||||||
1,700 | FLIR Systems, Inc. (a) | 51 | ||||||
400 | Mettler-Toledo International, Inc. (a) | 60 | ||||||
700 | National Instruments Corp. | 26 | ||||||
137 | ||||||||
Fertilizers & Agricultural Chemicals — 0.20% |
| |||||||
15,493 | Monsanto Co. | 1,079 | ||||||
4,406 | The Mosaic Co. | 336 | ||||||
1,415 | ||||||||
Food Distributors — 0.10% |
| |||||||
23,296 | Sysco Corp. | 685 | ||||||
Food Retail — 0.00% |
| |||||||
1,094 | The Kroger Co. | 24 | ||||||
Footwear — 0.17% |
| |||||||
14,411 | NIKE, Inc., Class – B | 1,231 | ||||||
General Merchandise Stores — 0.20% |
| |||||||
1,500 | Dollar Tree, Inc. (a) | 84 | ||||||
1,500 | Family Dollar Stores, Inc. | 75 | ||||||
20,954 | Target Corp. | 1,260 | ||||||
1,419 | ||||||||
Gold — 0.12% |
| |||||||
13,553 | Newmont Mining Corp. | 833 | ||||||
Health Care Distributors — 0.10% |
| |||||||
3,200 | AmerisourceBergen Corp. | 109 | ||||||
7,728 | Cardinal Health, Inc. | 296 | ||||||
1,100 | Henry Schein, Inc. (a) | 67 | ||||||
3,195 | McKesson Corp. | 225 | ||||||
1,200 | Patterson Cos., Inc. | 37 | ||||||
734 | ||||||||
Shares | Security | Value (000) | ||||||
Health Care Equipment — 0.84% |
| |||||||
20,954 | Baxter International, Inc. | $ | 1,061 | |||||
9,297 | Becton, Dickinson & Co. | 786 | ||||||
1,100 | C.R. Bard, Inc. | 101 | ||||||
2,100 | CareFusion Corp. (a) | 54 | ||||||
19,900 | Covidien PLC | 908 | ||||||
1,300 | Edwards Lifesciences Corp. (a) | 105 | ||||||
1,900 | Hospira, Inc. (a) | 106 | ||||||
700 | IDEXX Laboratories, Inc. (a) | 48 | ||||||
36,693 | Medtronic, Inc. | 1,361 | ||||||
1,700 | ResMed, Inc. (a) | 59 | ||||||
12,862 | St. Jude Medical, Inc. (a) | 550 | ||||||
12,359 | Stryker Corp. | 664 | ||||||
1,400 | Varian Medical Systems, Inc. (a) | 97 | ||||||
2,300 | Zimmer Holdings, Inc. (a) | 123 | ||||||
6,023 | ||||||||
Health Care Services — 0.29% |
| |||||||
21,794 | Express Scripts, Inc. (a) | 1,178 | ||||||
1,200 | Laboratory Corp. of America Holdings (a) | 105 | ||||||
1,100 | Lincare Holdings, Inc. | 30 | ||||||
12,358 | Medco Health Solutions, Inc. (a) | 757 | ||||||
500 | Mednax, Inc. (a) | 34 | ||||||
2,104 | ||||||||
Health Care Supplies — 0.07% |
| |||||||
2,710 | Alcon, Inc. | 443 | ||||||
1,700 | Dentsply International, Inc. | 58 | ||||||
501 | ||||||||
Health Care Technology — 0.01% |
| |||||||
765 | Cerner Corp. (a) | 72 | ||||||
Home Entertainment Software — 0.01% |
| |||||||
4,238 | Activision Blizzard, Inc. | 53 | ||||||
Home Improvement Retail — 0.51% |
| |||||||
47,737 | Lowe’s Cos., Inc. | 1,197 | ||||||
67,029 | The Home Depot, Inc. | 2,350 | ||||||
1,100 | The Sherwin-Williams Co. | 92 | ||||||
3,639 | ||||||||
Homebuilding — 0.01% |
| |||||||
70 | NVR, Inc. (a) | 48 | ||||||
Homefurnishing Retail — 0.02% |
| |||||||
800 | Aaron’s, Inc. | 16 | ||||||
3,000 | Bed Bath & Beyond, Inc. (a) | 148 | ||||||
164 | ||||||||
Hotels, Resorts & Cruise Lines — 0.03% |
| |||||||
4,764 | Carnival Corp. | 220 | ||||||
Household Products — 0.52% |
| |||||||
800 | Church & Dwight Co., Inc. | 55 | ||||||
17,259 | Colgate-Palmolive Co. | 1,387 | ||||||
14,051 | Kimberly-Clark Corp. | 886 |
See accompanying notes to financial statements
23
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SsgA Funds Management, Inc. (continued) |
| |||||||
Household Products (continued) |
| |||||||
1,600 | The Clorox Co. | $ | 101 | |||||
20,234 | The Procter & Gamble Co. | 1,302 | ||||||
3,731 | ||||||||
Human Resource & Employment Services — 0.00% |
| |||||||
500 | Towers Watson & Co., Class – A | 26 | ||||||
Hypermarkets & Super Centers — 0.57% |
| |||||||
600 | BJ’s Wholesale Club, Inc. (a) | 29 | ||||||
17,624 | Costco Wholesale Corp. | 1,273 | ||||||
51,295 | Wal-Mart Stores, Inc. | 2,766 | ||||||
4,068 | ||||||||
Industrial Conglomerates — 0.54% |
| |||||||
28,273 | 3M Co. | 2,440 | ||||||
700 | Carlisle Cos., Inc. | 28 | ||||||
70,557 | General Electric Co. | 1,291 | ||||||
2,157 | Tyco International Ltd. | 89 | ||||||
3,848 | ||||||||
Industrial Gases — 0.24% |
| |||||||
5,986 | Air Products & Chemicals, Inc. | 545 | ||||||
12,206 | Praxair, Inc. | 1,165 | ||||||
1,710 | ||||||||
Industrial Machinery — 0.29% |
| |||||||
600 | Crane Co. | 25 | ||||||
20,045 | Danaher Corp. | 946 | ||||||
900 | Donaldson Co., Inc. | 52 | ||||||
900 | IDEX Corp. | 35 | ||||||
17,506 | Illinois Tool Works, Inc. | 935 | ||||||
1,300 | Pall Corp. | 64 | ||||||
2,057 | ||||||||
Insurance Brokers — 0.00% |
| |||||||
1,300 | Brown & Brown, Inc. | 31 | ||||||
Integrated Oil & Gas — 1.93% |
| |||||||
14,700 | Chevron Corp. | 1,341 | ||||||
16,222 | ConocoPhillips | 1,105 | ||||||
146,344 | Exxon Mobil Corp. | 10,701 | ||||||
5,500 | Marathon Oil Corp. | 204 | ||||||
4,603 | Occidental Petroleum Corp. | 451 | ||||||
13,802 | ||||||||
Internet Retail — 0.25% |
| |||||||
9,892 | Amazon.com, Inc. (a) | 1,781 | ||||||
Internet Software & Services — 0.79% |
| |||||||
12,128 | eBay, Inc. (a) | 338 | ||||||
8,506 | Google, Inc., Class – A (a) | 5,052 | ||||||
15,157 | Yahoo!, Inc. (a) | 252 | ||||||
5,642 | ||||||||
Shares | Security | Value (000) | ||||||
Investment Banking & Brokerage — 0.12% |
| |||||||
28,023 | Charles Schwab Corp. | $ | 479 | |||||
13,410 | Morgan Stanley | 365 | ||||||
844 | ||||||||
IT Consulting & Other Services — 0.30% |
| |||||||
24,408 | Accenture PLC, Class – A | 1,184 | ||||||
11,944 | Cognizant Technology Solutions Corp. (a) | 875 | ||||||
3,500 | SAIC, Inc. (a) | 55 | ||||||
2,114 | ||||||||
Life & Health Insurance — 0.14% |
| |||||||
12,627 | Aflac, Inc. | 713 | ||||||
5,900 | MetLife, Inc. | 262 | ||||||
900 | Torchmark Corp. | 54 | ||||||
1,029 | ||||||||
Life Sciences Tools & Services — 0.06% |
| |||||||
700 | Covance, Inc. (a) | 36 | ||||||
1,200 | Pharmaceutical Product Development, Inc. | 33 | ||||||
400 | Techne Corp. | 26 | ||||||
4,700 | Thermo Electron Corp. (a) | 260 | ||||||
1,100 | Waters Corp. (a) | 85 | ||||||
440 | ||||||||
Managed Health Care — 0.10% |
| |||||||
13,000 | UnitedHealth Group, Inc. | 469 | ||||||
4,600 | WellPoint, Inc. (a) | 262 | ||||||
731 | ||||||||
Marine — 0.00% |
| |||||||
600 | Kirby Corp. (a) | 26 | ||||||
Metal & Glass Containers — 0.01% |
| |||||||
800 | AptarGroup, Inc. | 38 | ||||||
Movies & Entertainment — 0.08% |
| |||||||
13,914 | News Corp., Class – A | 203 | ||||||
6,840 | Time Warner, Inc. | 220 | ||||||
3,486 | Viacom, Inc., Class – B | 138 | ||||||
561 | ||||||||
Office Electronics — 0.00% |
| |||||||
700 | Zebra Technologies Corp., Class – A (a) | 27 | ||||||
Oil & Gas Equipment & Services — 0.58% |
| |||||||
3,425 | Baker Hughes, Inc. | 196 | ||||||
25,869 | Halliburton Co. | 1,056 | ||||||
600 | Oceaneering International, Inc. (a) | 44 | ||||||
33,738 | Schlumberger Ltd. | 2,817 | ||||||
4,113 | ||||||||
Oil & Gas Exploration & Production — 0.14% |
| |||||||
7,175 | EOG Resources, Inc. | 656 | ||||||
10,008 | Southwestern Energy Co. (a) | 374 | ||||||
1,030 | ||||||||
See accompanying notes to financial statements
24
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SsgA Funds Management, Inc. (continued) |
| |||||||
Oil & Gas Storage & Transportation — 0.02% |
| |||||||
7,013 | The Williams Cos., Inc. | $ | 173 | |||||
Packaged Foods & Meats — 0.19% |
| |||||||
900 | Flowers Foods, Inc. | 24 | ||||||
10,970 | General Mills, Inc. | 390 | ||||||
800 | Hormel Foods Corp. | 41 | ||||||
9,289 | Kellogg Co. | 474 | ||||||
1,500 | McCormick & Co., Inc. | 70 | ||||||
2,323 | Mead Johnson Nutrition Co. | 145 | ||||||
1,800 | The Hershey Co. | 85 | ||||||
1,400 | The J.M. Smucker Co. | 92 | ||||||
1,321 | ||||||||
Paper Packaging — 0.01% |
| |||||||
1,200 | Bemis Co., Inc. | 39 | ||||||
Personal Products — 0.03% |
| |||||||
4,900 | Avon Products, Inc. | 142 | ||||||
1,300 | The Estee Lauder Cos., Inc. | 105 | ||||||
247 | ||||||||
Pharmaceuticals — 1.12% |
| |||||||
56,939 | Abbott Laboratories | 2,728 | ||||||
12,128 | Allergan, Inc. | 833 | ||||||
18,415 | Eli Lilly & Co. | 645 | ||||||
3,300 | Forest Laboratories, Inc., Class – A (a) | 105 | ||||||
27,306 | Johnson & Johnson | 1,689 | ||||||
28,200 | Merck & Co., Inc. | 1,016 | ||||||
58,400 | Pfizer, Inc. | 1,023 | ||||||
8,039 | ||||||||
Property & Casualty Insurance — 0.03% |
| |||||||
1,500 | ACE Ltd. | 94 | ||||||
1,600 | The Travelers Cos., Inc. | 89 | ||||||
183 | ||||||||
Publishing — 0.04% |
| |||||||
500 | John Wiley & Sons, Inc. | 23 | ||||||
300 | Morningstar, Inc. | 16 | ||||||
3,600 | The McGraw-Hill Cos., Inc. | 131 | ||||||
3,530 | Thomson Reuters Corp. | 131 | ||||||
301 | ||||||||
Railroads — 0.02% |
| |||||||
1,843 | Union Pacific Corp. | 171 | ||||||
Regional Banks — 0.01% |
| |||||||
600 | Cullen/Frost Bankers, Inc. | 37 | ||||||
Research and Consulting Services — 0.01% |
| |||||||
1,400 | Equifax, Inc. | 50 | ||||||
1,200 | Versik Analytics, Inc., Class – A (a) | 41 | ||||||
91 | ||||||||
Shares | Security | Value (000) | ||||||
Restaurants — 0.74% |
| |||||||
1,600 | Darden Restaurants, Inc. | $ | 74 | |||||
42,707 | McDonald’s Corp. | 3,278 | ||||||
400 | Panera Bread Co., Class – A (a) | 41 | ||||||
29,678 | Starbucks Corp. | 954 | ||||||
18,614 | YUM! Brands, Inc. | 913 | ||||||
5,260 | ||||||||
Retail REITs — 0.08% |
| |||||||
5,785 | Simon Property Group, Inc. | 576 | ||||||
Semiconductor Equipment — 0.08% |
| |||||||
38,143 | Applied Materials, Inc. | 536 | ||||||
Semiconductors — 0.48% |
| |||||||
14,106 | Broadcom Corp., Class – A | 614 | ||||||
107,468 | Intel Corp. | 2,260 | ||||||
2,100 | Microchip Technology, Inc. | 72 | ||||||
15,729 | Texas Instruments, Inc. | 511 | ||||||
3,457 | ||||||||
Soft Drinks — 0.93% |
| |||||||
41,404 | PepsiCo, Inc. | 2,705 | ||||||
60,166 | The Coca-Cola Co. | 3,957 | ||||||
6,662 | ||||||||
Specialized Consumer Services — 0.00% |
| |||||||
700 | Hillenbrand, Inc. | 15 | ||||||
400 | Weight Watchers International, Inc. | 15 | ||||||
30 | ||||||||
Specialized Finance — 0.02% |
| |||||||
200 | CBOE Holdings, Inc. | 5 | ||||||
900 | InterContinental Exchange, Inc. (a) | 107 | ||||||
112 | ||||||||
Specialized REITs — 0.05% |
| |||||||
3,500 | Public Storage | 355 | ||||||
Specialty Chemicals — 0.04% |
| |||||||
2,615 | Ecolab, Inc. | 132 | ||||||
900 | International Flavors & Fragrance, Inc. | 50 | ||||||
1,400 | Sigma-Aldrich Corp. | 93 | ||||||
275 | ||||||||
Specialty Stores — 0.12% |
| |||||||
1,000 | Dick’s Sporting Goods, Inc. (a) | 38 | ||||||
1,000 | Signet Jewelers Ltd. (a) | 43 | ||||||
28,944 | Staples, Inc. | 659 | ||||||
1,422 | Tiffany & Co. | 89 | ||||||
829 | ||||||||
Steel — 0.02% |
| |||||||
3,938 | Nucor Corp. | 173 | ||||||
Systems Software — 1.23% |
| |||||||
900 | MICROS Systems, Inc. (a) | 39 | ||||||
144,877 | Microsoft Corp. | 4,045 |
See accompanying notes to financial statements
25
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SsgA Funds Management, Inc. (continued) |
| |||||||
Systems Software (continued) |
| |||||||
142,514 | Oracle Corp. | $ | 4,461 | |||||
2,188 | Symantec Corp. (a) | 37 | ||||||
2,115 | VMware, Inc., Class – A (a) | 188 | ||||||
8,770 | ||||||||
Tobacco — 0.64% |
| |||||||
34,570 | Altria Group, Inc. | 851 | ||||||
1,800 | Lorillard, Inc. | 148 | ||||||
60,624 | Philip Morris International, Inc. | 3,548 | ||||||
4,547 | ||||||||
Trading Companies & Distributors — 0.03% |
| |||||||
1,474 | Fastenal Co. | 88 | ||||||
500 | MSC Industrial Direct Co., Inc., Class – A | 32 | ||||||
700 | W.W. Grainger, Inc. | 97 | ||||||
217 | ||||||||
Trucking — 0.00% |
| |||||||
600 | Landstar System, Inc. | 25 | ||||||
Wireless Telecommunication Services — 0.08% |
| |||||||
11,420 | American Tower Corp., Class – A (a) | 590 | ||||||
Total SSgA Funds Management, Inc. | 173,918 | |||||||
Sustainable Growth Advisers — 38.49% |
| |||||||
Air Freight & Logistics — 1.51% |
| |||||||
116,359 | FedEx Corp. | 10,823 | ||||||
Asset Management & Custody Banks — 1.71% |
| |||||||
263,328 | State Street Corp. | 12,203 | ||||||
Communications Equipment — 2.23% |
| |||||||
225,592 | Juniper Networks, Inc. (a) | 8,329 | ||||||
153,195 | Qualcomm, Inc. | 7,581 | ||||||
15,910 | ||||||||
Computer Hardware — 1.55% |
| |||||||
34,225 | Apple, Inc. (a) | 11,040 | ||||||
Data Processing & Outsourced Services — 3.26% |
| |||||||
241,405 | Automatic Data Processing, Inc. | 11,172 | ||||||
172,531 | Visa, Inc., Class – A | 12,143 | ||||||
23,315 | ||||||||
Fertilizers & Agricultural Chemicals — 0.86% |
| |||||||
88,416 | Monsanto Co. | 6,157 | ||||||
Health Care Equipment — 1.92% |
| |||||||
20,486 | Intuitive Surgical, Inc. (a) | 5,280 | ||||||
157,584 | Stryker Corp. | 8,462 | ||||||
13,742 | ||||||||
Health Care Technology — 1.63% |
| |||||||
122,900 | Cerner Corp. (a) | 11,644 | ||||||
Home Improvement Retail — 1.59% |
| |||||||
453,279 | Lowe’s Cos., Inc. | 11,368 | ||||||
Shares or | Security | Value (000) | ||||||
Internet Retail — 1.59% |
| |||||||
63,254 | Amazon.com, Inc. (a) | $ | 11,386 | |||||
Internet Software & Services — 3.26% |
| |||||||
324,200 | eBay, Inc. (a) | 9,023 | ||||||
15,136 | Google, Inc., Class – A (a) | 8,990 | ||||||
115,611 | VistaPrint NV (a) | 5,318 | ||||||
23,331 | ||||||||
Oil & Gas Equipment & Services — 2.84% |
| |||||||
178,816 | National Oilwell Varco, Inc. | 12,025 | ||||||
99,394 | Schlumberger Ltd. | 8,300 | ||||||
20,325 | ||||||||
Pharmaceuticals — 2.69% |
| |||||||
83,312 | Johnson & Johnson | 5,153 | ||||||
39,000 | Novo Nordisk A/S – Sponsored ADR | 4,390 | ||||||
185,326 | Teva Pharmaceutical Industries Ltd. – Sponsored ADR | 9,661 | ||||||
19,204 | ||||||||
Restaurants — 1.38% |
| |||||||
306,447 | Starbucks Corp. | 9,846 | ||||||
Soft Drinks — 2.63% |
| |||||||
116,382 | PepsiCo, Inc. | 7,603 | ||||||
170,082 | The Coca-Cola Co. | 11,186 | ||||||
18,789 | ||||||||
Specialty Chemicals — 1.13% |
| |||||||
160,587 | Ecolab, Inc. | 8,097 | ||||||
Specialty Stores — 1.60% |
| |||||||
502,817 | Staples, Inc. | 11,449 | ||||||
Systems Software — 3.55% |
| |||||||
298,594 | Microsoft Corp. | 8,337 | ||||||
363,629 | Oracle Corp. | 11,381 | ||||||
123,303 | Red Hat, Inc. (a) | 5,629 | ||||||
25,347 | ||||||||
Trading Companies & Distributors — 1.56% |
| |||||||
186,233 | Fastenal Co. | 11,157 | ||||||
Total Sustainable Growth Advisers | 275,133 | |||||||
Total Common Stocks | 708,988 | |||||||
U.S. Treasury Obligations — 0.02% |
| |||||||
SSgA Funds Management, Inc. — 0.02% |
| |||||||
$ | 60 | U.S. Treasury Bills, | 60 | |||||
25 | U.S. Treasury Bills, | 25 | ||||||
67 | U.S. Treasury Bills, | 67 | ||||||
Total U.S. Treasury Obligations | 152 | |||||||
See accompanying notes to financial statements
26
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Shares or | Security | Value (000) | ||||||
Time Deposits — 0.67% |
| |||||||
Jennison Associates LLC — 0.37% |
| |||||||
$ | 2,673 | State Street Liquidity Management Control System Time Deposit, | $ | 2,673 | ||||
Sustainable Growth Advisers — 0.30% |
| |||||||
2,129 | State Street Liquidity Management Control System Time Deposit, | 2,129 | ||||||
Total Time Deposits | 4,802 | |||||||
Mutual Funds — 0.01% |
| |||||||
SSgA Funds Management, Inc. — 0.01% |
| |||||||
64,124 | Alliance Money Market Fund Prime Portfolio, 0.16% (e) | 64 | ||||||
Total Mutual Funds | 64 | |||||||
Total Investments | 714,006 | |||||||
Other assets in excess of liabilities — 0.12% | 861 | |||||||
Net Assets — 100.00% | $ | 714,867 | ||||||
(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) | All or part of this security has been pledged as collateral for futures contracts held by 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, 2010. |
ADR — American Depositary Receipt
GDR — Global Depositary Receipt
REITs — Real Estate Investment Trusts
Futures
SSgA Funds Management, Inc.
Number of | Futures Contracts Positions | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
10 | NASDAQ 100 E-Mini Future | $ | 443 | Mar-11 | $ | 3 | ||||||||||
12 | S&P 500 E-Mini Future | 752 | Mar-11 | 10 | ||||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | 13 | ||||||||||||||
See accompanying notes to financial statements
27
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks — 81.12% |
| |||||||
Jennison Associates LLC — 31.34% |
| |||||||
Aerospace & Defense — 1.24% |
| |||||||
44,786 | Precision Castparts Corp. | $ | 6,235 | |||||
55,441 | The Boeing Co. | 3,618 | ||||||
50,022 | United Technologies Corp. | 3,938 | ||||||
13,791 | ||||||||
Air Freight & Logistics — 0.54% |
| |||||||
23,712 | C.H. Robinson Worldwide, Inc. | 1,901 | ||||||
34,061 | Expeditors International of Washington, Inc. | 1,860 | ||||||
30,602 | United Parcel Service, Inc., Class – B | 2,221 | ||||||
5,982 | ||||||||
Apparel Retail — 0.05% |
| |||||||
16,026 | Urban Outfitters, Inc. (a) | 574 | ||||||
Apparel, Accessories & Luxury Goods — 1.24% |
| |||||||
92,358 | Coach, Inc. | 5,108 | ||||||
21,301 | LVMH Moet Hennessy Louis Vuitton | 706 | ||||||
37,168 | Phillips-Van Heusen Corp. | 2,342 | ||||||
50,626 | Polo Ralph Lauren Corp. | 5,616 | ||||||
13,772 | ||||||||
Application Software — 0.57% |
| |||||||
47,745 | Salesforce.com, Inc. (a) | 6,302 | ||||||
Automobile Manufacturers — 0.14% |
| |||||||
59,947 | Bayerische Motoren Werke AG – ADR | 1,564 | ||||||
Biotechnology — 0.93% |
| |||||||
95,396 | Celgene Corp. (a) | 5,642 | ||||||
47,540 | Gilead Sciences, Inc. (a) | 1,723 | ||||||
83,714 | Vertex Pharmaceuticals, Inc. (a) | 2,932 | ||||||
10,297 | ||||||||
Brewers — 0.44% |
| |||||||
85,363 | Anheuser-Busch InBev NV – Sponsored ADR | 4,873 | ||||||
Communications Equipment — 1.63% |
| |||||||
235,221 | Cisco Systems, Inc. (a) | 4,759 | ||||||
202,681 | Juniper Networks, Inc. (a) | 7,483 | ||||||
119,100 | Qualcomm, Inc. | 5,894 | ||||||
18,136 | ||||||||
Computer Hardware — 2.63% |
| |||||||
52,171 | Apple, Inc. (a) | 16,828 | ||||||
22,908 | Hewlett-Packard Co. | 965 | ||||||
77,483 | International Business Machines Corp. | 11,371 | ||||||
29,164 | ||||||||
Computer Storage & Peripherals — 0.70% |
| |||||||
140,770 | NetApp, Inc. (a) | 7,737 | ||||||
Shares | Security | Value (000) | ||||||
Construction & Farm Machinery & Heavy |
| |||||||
60,447 | Deere & Co. | $ | 5,020 | |||||
Data Processing & Outsourced Services — 0.86% |
| |||||||
28,410 | MasterCard, Inc., Class – A | 6,367 | ||||||
44,452 | Visa, Inc., Class – A | 3,129 | ||||||
9,496 | ||||||||
Electronic Equipment & Instruments — 0.59% |
| |||||||
158,382 | Agilent Technologies, Inc. (a) | 6,562 | ||||||
Fertilizers & Agricultural Chemicals — 0.31% |
| |||||||
49,279 | Monsanto Co. | 3,432 | ||||||
Food Retail — 0.49% |
| |||||||
108,529 | Whole Foods Market, Inc. (a) | 5,491 | ||||||
Footwear — 0.75% | ||||||||
97,683 | NIKE, Inc., Class - B | 8,344 | ||||||
General Merchandise Stores — 0.80% |
| |||||||
125,426 | Dollar General Corp. (a) | 3,847 | ||||||
83,571 | Target Corp. | 5,025 | ||||||
8,872 | ||||||||
Health Care Services — 0.98% |
| |||||||
114,834 | Express Scripts, Inc. (a) | 6,207 | ||||||
75,441 | Medco Health Solutions, Inc. (a) | 4,622 | ||||||
10,829 | ||||||||
Hotels, Resorts & Cruise Lines — 0.54% |
| |||||||
142,976 | Marriott International, Inc., Class – A | 5,939 | ||||||
Hypermarkets & Super Centers — 0.48% |
| |||||||
73,223 | Costco Wholesale Corp. | 5,287 | ||||||
Industrial Machinery — 0.44% |
| |||||||
103,980 | Ingersoll-Rand PLC | 4,896 | ||||||
Integrated Oil & Gas — 0.70% |
| |||||||
79,236 | Occidental Petroleum Corp. | 7,773 | ||||||
Internet Retail — 1.46% |
| |||||||
89,944 | Amazon.com, Inc. (a) | 16,190 | ||||||
Internet Software & Services — 1.82% |
| |||||||
56,264 | Baidu, Inc., Class – A, Sponsored ADR (a) | 5,431 | ||||||
17,553 | Google, Inc., Class – A (a) | 10,426 | ||||||
51,248 | Mail.ru Group Ltd. – Registered GDR (a)(b) | 1,845 | ||||||
114,634 | Tencent Holdings Ltd. – ADR | 2,514 | ||||||
20,216 | ||||||||
Investment Banking & Brokerage — 1.11% |
| |||||||
220,000 | Charles Schwab Corp. | 3,764 | ||||||
64,244 | Morgan Stanley | 1,748 | ||||||
40,572 | The Goldman Sachs Group, Inc. | 6,823 | ||||||
12,335 | ||||||||
See accompanying notes to financial statements
28
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Jennison Associates LLC (continued) |
| |||||||
IT Consulting & Other Services — 0.17% |
| |||||||
25,148 | Cognizant Technology Solutions Corp., Class – A (a) | $ | 1,843 | |||||
Life Sciences Tools & Services — 0.36% |
| |||||||
62,825 | Illumina, Inc. (a) | 3,979 | ||||||
Movies & Entertainment — 0.84% |
| |||||||
248,017 | The Walt Disney Co. | 9,303 | ||||||
Oil & Gas Equipment & Services — 0.96% |
| |||||||
127,385 | Schlumberger Ltd. | 10,637 | ||||||
Oil & Gas Exploration & Production — 0.38% |
| |||||||
35,640 | Apache Corp. | 4,249 | ||||||
Packaged Foods & Meats — 1.05% |
| |||||||
144,262 | Kraft Foods, Inc. | 4,545 | ||||||
57,152 | Mead Johnson Nutrition Co. | 3,558 | ||||||
116,613 | Unilever PLC – Sponsored ADR | 3,601 | ||||||
11,704 | ||||||||
Personal Products — 0.24% |
| |||||||
32,417 | The Estee Lauder Cos., Inc., Class – A | 2,616 | ||||||
Pharmaceuticals — 1.38% |
| |||||||
37,468 | Abbott Laboratories | 1,795 | ||||||
57,991 | Allergan, Inc. | 3,982 | ||||||
59,876 | Shire PLC – Sponsored ADR | 4,334 | ||||||
99,253 | Teva Pharmaceutical Industries Ltd. – Sponsored ADR | 5,174 | ||||||
15,285 | ||||||||
Railroads — 0.35% |
| |||||||
42,354 | Union Pacific Corp. | 3,925 | ||||||
Restaurants — 0.83% |
| |||||||
50,622 | McDonald’s Corp. | 3,886 | ||||||
164,965 | Starbucks Corp. | 5,300 | ||||||
9,186 | ||||||||
Semiconductors — 0.50% |
| |||||||
109,940 | Broadcom Corp., Class – A | 4,788 | ||||||
40,552 | Marvell Technology Group Ltd. (a) | 752 | ||||||
5,540 | ||||||||
Specialty Stores — 0.35% |
| |||||||
62,930 | Tiffany & Co. | 3,919 | ||||||
Systems Software — 1.68% |
| |||||||
259,567 | Oracle Corp. | 8,125 | ||||||
77,435 | Red Hat, Inc. (a) | 3,535 | ||||||
78,959 | VMware, Inc., Class – A (a) | 7,020 | ||||||
18,680 | ||||||||
Wireless Telecommunication Services — 0.36% |
| |||||||
77,829 | American Tower Corp., Class – A (a) | 4,019 | ||||||
Total Jennison Associates LLC | 347,759 | |||||||
Shares | Security | Value (000) | ||||||
SSgA Funds Management, Inc. — 16.15% |
| |||||||
Advertising — 0.05% |
| |||||||
11,067 | Omnicom Group, Inc. | $ | 507 | |||||
Aerospace & Defense — 0.64% |
| |||||||
5,000 | General Dynamics Corp. | 355 | ||||||
20,851 | Honeywell International, Inc. | 1,108 | ||||||
2,600 | ITT Corp. | 136 | ||||||
1,700 | L-3 Communications Holdings, Inc. | 120 | ||||||
6,658 | Lockheed Martin Corp. | 465 | ||||||
5,937 | Precision Castparts Corp. | 827 | ||||||
2,200 | Rockwell Collins, Inc. | 128 | ||||||
16,784 | The Boeing Co. | 1,095 | ||||||
36,599 | United Technologies Corp. | 2,881 | ||||||
7,115 | ||||||||
Air Freight & Logistics — 0.21% |
| |||||||
2,351 | C.H. Robinson Worldwide, Inc. | 188 | ||||||
3,070 | Expeditors International of Washington, Inc. | 168 | ||||||
5,535 | FedEx Corp. | 515 | ||||||
19,459 | United Parcel Service, Inc. | 1,412 | ||||||
2,283 | ||||||||
Aluminum — 0.01% |
| |||||||
4,285 | Alcoa, Inc. | 66 | ||||||
Apparel Retail — 0.13% |
| |||||||
1,300 | Abercrombie & Fitch Co., Class – A | 75 | ||||||
1,300 | Aeropostale, Inc. (a) | 32 | ||||||
2,800 | American Eagle Outfitters, Inc. | 41 | ||||||
1,800 | Ross Stores, Inc. | 114 | ||||||
16,361 | The Gap, Inc. | 362 | ||||||
16,845 | The TJX Cos., Inc. | 748 | ||||||
1,700 | Urban Outfitters, Inc. (a) | 61 | ||||||
1,433 | ||||||||
Apparel, Accessories & Luxury Goods — 0.04% |
| |||||||
4,315 | Coach, Inc. | 239 | ||||||
800 | Fossil, Inc. (a) | 56 | ||||||
808 | Polo Ralph Lauren Corp. | 90 | ||||||
1,300 | V.F. Corp. | 112 | ||||||
497 | ||||||||
Application Software — 0.10% |
| |||||||
21,759 | Adobe Systems, Inc. (a) | 670 | ||||||
2,900 | Amdocs Ltd. (a) | 79 | ||||||
1,300 | ANSYS, Inc. (a) | 68 | ||||||
2,700 | Citrix Systems, Inc. (a) | 185 | ||||||
700 | FactSet Research Systems, Inc. | 65 | ||||||
1,067 | ||||||||
Asset Management & Custody Banks — 0.13% |
| |||||||
1,270 | BlackRock, Inc., Class – A | 242 | ||||||
1,300 | Federated Investors, Inc. | 34 | ||||||
6,206 | Franklin Resources, Inc. | 690 |
See accompanying notes to financial statements
29
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Asset Management & Custody Banks (continued) |
| |||||||
2,710 | Northern Trust Corp. | $ | 150 | |||||
2,100 | SEI Investments Co. | 50 | ||||||
3,700 | T. Rowe Price Group, Inc. | 239 | ||||||
1,200 | Waddell & Reed Financial, Inc., | 43 | ||||||
1,448 | ||||||||
Auto Parts & Equipment — 0.06% |
| |||||||
2,000 | Gentex Corp. | 59 | ||||||
17,231 | Johnson Controls, Inc. | 658 | ||||||
717 | ||||||||
Automobile Manufacturers — 0.14% |
| |||||||
90,895 | Ford Motor Co. (a) | 1,526 | ||||||
Automotive Retail — 0.03% |
| |||||||
1,300 | Advance Auto Parts, Inc. | 86 | ||||||
400 | AutoZone, Inc. (a) | 109 | ||||||
2,000 | O’Reilly Automotive, Inc. (a) | 121 | ||||||
316 | ||||||||
Biotechnology — 0.25% |
| |||||||
13,700 | Amgen, Inc. (a) | 752 | ||||||
12,557 | Celgene Corp. (a) | 743 | ||||||
5,652 | Genzyme Corp. (a) | 402 | ||||||
22,810 | Gilead Sciences, Inc. (a) | 827 | ||||||
2,724 | ||||||||
Cable & Satellite — 0.08% |
| |||||||
22,118 | DIRECTV, Class – A (a) | 883 | ||||||
Casinos & Gaming — 0.04% |
| |||||||
8,745 | Las Vegas Sands Corp. (a) | 402 | ||||||
Communications Equipment — 0.76% |
| |||||||
216,123 | Cisco Systems, Inc. (a) | 4,372 | ||||||
5,769 | Corning, Inc. | 111 | ||||||
14,252 | Juniper Networks, Inc. (a) | 526 | ||||||
68,146 | Qualcomm, Inc. | 3,373 | ||||||
8,382 | ||||||||
Computer & Electronics Retail — 0.04% |
| |||||||
13,397 | Best Buy Co., Inc. | 459 | ||||||
Computer Hardware — 1.63% |
| |||||||
24,794 | Apple, Inc. (a) | 7,997 | ||||||
70,578 | Dell, Inc. (a) | 956 | ||||||
63,919 | Hewlett-Packard Co. | 2,691 | ||||||
43,566 | International Business Machines Corp. | 6,394 | ||||||
2,400 | Teradata Corp. (a) | 99 | ||||||
18,137 | ||||||||
Computer Storage & Peripherals — 0.12% |
| |||||||
55,987 | EMC Corp. (a) | 1,282 | ||||||
1,100 | Lexmark International, Inc., Class – A (a) | 39 |
Shares | Security | Value (000) | ||||||
Computer Storage & Peripherals (continued) |
| |||||||
1,600 | QLogic Corp. (a) | $ | 27 | |||||
1,348 | ||||||||
Construction & Engineering — 0.01% |
| |||||||
1,800 | Jacobs Engineering Group, Inc. (a) | 83 | ||||||
Construction & Farm Machinery & Heavy |
| |||||||
17,090 | Caterpillar, Inc. | 1,601 | ||||||
10,887 | Deere & Co. | 904 | ||||||
9,959 | PACCAR, Inc. | 572 | ||||||
3,077 | ||||||||
Consumer Electronics — 0.00% |
| |||||||
1,600 | Garmin Ltd. | 50 | ||||||
Consumer Finance — 0.11% |
| |||||||
28,522 | American Express Co. | 1,224 | ||||||
100 | Green Dot Corp., Class – A (a) | 6 | ||||||
1,230 | ||||||||
Data Processing & Outsourced Services — 0.31% |
| |||||||
20,949 | Automatic Data Processing, Inc. | 970 | ||||||
1,800 | Broadridge Financial Solutions, Inc. | 40 | ||||||
1,400 | Convergys Corp. (a) | 18 | ||||||
1,200 | Global Payments, Inc. | 56 | ||||||
1,400 | Lender Processing Services, Inc. | 41 | ||||||
2,679 | MasterCard, Inc., Class – A | 600 | ||||||
1,100 | NeuStar, Inc. (a) | 29 | ||||||
4,600 | Paychex, Inc. | 142 | ||||||
9,600 | The Western Union Co. | 178 | ||||||
2,300 | Total System Services, Inc. | 35 | ||||||
19,418 | Visa, Inc., Class – A | 1,367 | ||||||
3,476 | ||||||||
Department Stores — 0.05% |
| |||||||
10,704 | Kohl’s Corp. (a) | 582 | ||||||
Distillers & Vintners — 0.01% |
| |||||||
1,500 | Brown-Forman Corp., Class – B | 104 | ||||||
Distributors — 0.01% |
| |||||||
2,300 | Genuine Parts Co. | 118 | ||||||
Diversified Chemicals — 0.04% |
| |||||||
8,660 | E.I. du Pont de Nemours & Co. | 432 | ||||||
Diversified Metals & Mining — 0.16% |
| |||||||
12,766 | Freeport-McMoRan Copper & Gold, Inc. | 1,533 | ||||||
4,775 | Southern Copper Corp. | 233 | ||||||
1,766 | ||||||||
Diversified Support Services — 0.01% |
| |||||||
1,900 | Cintas Corp. | 53 | ||||||
1,000 | Copart, Inc. (a) | 38 | ||||||
91 | ||||||||
See accompanying notes to financial statements
30
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Drug Retail — 0.20% |
| |||||||
23,460 | CVS Caremark Corp. | $ | 816 | |||||
36,918 | Walgreen Co. | 1,438 | ||||||
2,254 | ||||||||
Education Services — 0.01% |
| |||||||
1,800 | Apollo Group, Inc., Class – A (a) | 71 | ||||||
900 | Career Education Corp. (a) | 19 | ||||||
500 | ITT Educational Services, Inc. (a) | 32 | ||||||
200 | Strayer Education, Inc. | 30 | ||||||
152 | ||||||||
Electrical Components & Equipment — 0.20% |
| |||||||
2,250 | AMETEK, Inc. | 88 | ||||||
2,400 | Cooper Industries PLC | 140 | ||||||
31,353 | Emerson Electric Co. | 1,793 | ||||||
900 | Hubbell, Inc., Class – B | 54 | ||||||
1,400 | Roper Industries, Inc. | 107 | ||||||
2,182 | ||||||||
Electronic Components — 0.02% |
| |||||||
2,500 | Amphenol Corp., Class – A | 132 | ||||||
800 | Dolby Laboratories, Inc., Class – A (a) | 53 | ||||||
185 | ||||||||
Electronic Equipment & Instruments — 0.02% |
| |||||||
2,200 | FLIR Systems, Inc. (a) | 65 | ||||||
500 | Mettler-Toledo International, Inc. (a) | 76 | ||||||
800 | National Instruments Corp. | 30 | ||||||
171 | ||||||||
Fertilizers & Agricultural Chemicals — 0.12% |
| |||||||
14,897 | Monsanto Co. | 1,037 | ||||||
4,322 | The Mosaic Co. | 330 | ||||||
1,367 | ||||||||
Food Distributors — 0.07% |
| |||||||
24,451 | Sysco Corp. | 719 | ||||||
Food Retail — 0.00% |
| |||||||
1,042 | The Kroger Co. | 23 | ||||||
Footwear — 0.12% |
| |||||||
14,998 | NIKE, Inc., Class – B | 1,281 | ||||||
General Merchandise Stores — 0.13% |
| |||||||
1,800 | Dollar Tree, Inc. (a) | 101 | ||||||
1,900 | Family Dollar Stores, Inc. | 94 | ||||||
20,070 | Target Corp. | 1,207 | ||||||
1,402 | ||||||||
Gold — 0.07% |
| |||||||
12,897 | Newmont Mining Corp. | 792 | ||||||
Shares | Security | Value (000) | ||||||
Health Care Distributors — 0.07% |
| |||||||
4,000 | AmerisourceBergen Corp. | $ | 136 | |||||
8,553 | Cardinal Health, Inc. | 328 | ||||||
1,300 | Henry Schein, Inc. (a) | 80 | ||||||
2,986 | McKesson Corp. | 210 | ||||||
1,500 | Patterson Cos., Inc. | 46 | ||||||
800 | ||||||||
Health Care Equipment — 0.59% |
| |||||||
21,981 | Baxter International, Inc. | 1,113 | ||||||
9,845 | Becton, Dickinson & Co. | 832 | ||||||
1,400 | C.R. Bard, Inc. | 129 | ||||||
2,600 | CareFusion Corp. (a) | 67 | ||||||
20,882 | Covidien PLC | 954 | ||||||
1,600 | Edwards Lifesciences Corp. (a) | 129 | ||||||
2,400 | Hospira, Inc. (a) | 134 | ||||||
800 | IDEXX Laboratories, Inc. (a) | 55 | ||||||
38,804 | Medtronic, Inc. | 1,439 | ||||||
2,200 | ResMed, Inc. (a) | 76 | ||||||
13,785 | St. Jude Medical, Inc. (a) | 589 | ||||||
13,193 | Stryker Corp. | 708 | ||||||
1,800 | Varian Medical Systems, Inc. (a) | 125 | ||||||
2,900 | Zimmer Holdings, Inc. (a) | 156 | ||||||
6,506 | ||||||||
Health Care Services — 0.20% |
| |||||||
22,765 | Express Scripts, Inc. (a) | 1,230 | ||||||
1,500 | Laboratory Corp. of America Holdings (a) | 132 | ||||||
1,400 | Lincare Holdings, Inc. | 38 | ||||||
11,834 | Medco Health Solutions, Inc. (a) | 725 | ||||||
700 | Mednax, Inc. (a) | 47 | ||||||
2,172 | ||||||||
Health Care Supplies — 0.05% |
| |||||||
2,873 | Alcon, Inc. | 469 | ||||||
2,100 | Dentsply International, Inc. | 72 | ||||||
541 | ||||||||
Health Care Technology — 0.01% |
| |||||||
1,014 | Cerner Corp. (a) | 96 | ||||||
Home Entertainment Software — 0.00% |
| |||||||
4,120 | Activision Blizzard, Inc. | 51 | ||||||
Home Improvement Retail — 0.35% |
| |||||||
50,432 | Lowe’s Cos., Inc. | 1,265 | ||||||
70,389 | The Home Depot, Inc. | 2,468 | ||||||
1,300 | The Sherwin-Williams Co. | 109 | ||||||
3,842 | ||||||||
Homebuilding — 0.01% |
| |||||||
80 | NVR, Inc. (a) | 55 | ||||||
See accompanying notes to financial statements
31
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Homefurnishing Retail — 0.02% |
| |||||||
1,000 | Aaron’s, Inc. | $ | 20 | |||||
3,800 | Bed Bath & Beyond, Inc. (a) | 187 | ||||||
207 | ||||||||
Hotels, Resorts & Cruise Lines — 0.02% |
| |||||||
4,446 | Carnival Corp. | 205 | ||||||
Household Products — 0.37% |
| |||||||
1,000 | Church & Dwight Co., Inc. | 69 | ||||||
18,203 | Colgate-Palmolive Co. | 1,463 | ||||||
14,810 | Kimberly-Clark Corp. | 934 | ||||||
2,000 | The Clorox Co. | 126 | ||||||
24,058 | The Procter & Gamble Co. | 1,548 | ||||||
4,140 | ||||||||
Human Resource & Employment Services — 0.00% |
| |||||||
600 | Towers Watson & Co., Class – A | 31 | ||||||
Hypermarkets & Super Centers — 0.39% |
| |||||||
800 | BJ’s Wholesale Club, Inc. (a) | 39 | ||||||
18,253 | Costco Wholesale Corp. | 1,318 | ||||||
54,834 | Wal-Mart Stores, Inc. | 2,957 | ||||||
4,314 | ||||||||
Industrial Conglomerates — 0.35% |
| |||||||
29,634 | 3M Co. | 2,557 | ||||||
900 | Carlisle Cos., Inc. | 36 | ||||||
67,439 | General Electric Co. | 1,234 | ||||||
2,196 | Tyco International Ltd. | 91 | ||||||
3,918 | ||||||||
Industrial Gases — 0.16% |
| |||||||
5,864 | Air Products & Chemicals, Inc. | 534 | ||||||
12,708 | Praxair, Inc. | 1,213 | ||||||
1,747 | ||||||||
Industrial Machinery — 0.20% |
| |||||||
700 | Crane Co. | 29 | ||||||
20,980 | Danaher Corp. | 990 | ||||||
1,100 | Donaldson Co., Inc. | 64 | ||||||
1,200 | IDEX Corp. | 47 | ||||||
18,295 | Illinois Tool Works, Inc. | 977 | ||||||
1,700 | Pall Corp. | 84 | ||||||
2,191 | ||||||||
Insurance Brokers — 0.00% |
| |||||||
1,600 | Brown & Brown, Inc. | 38 | ||||||
Integrated Oil & Gas — 1.25% |
| |||||||
17,239 | Chevron Corp. | 1,573 | ||||||
15,557 | ConocoPhillips | 1,059 | ||||||
145,070 | Exxon Mobil Corp. | 10,608 | ||||||
5,339 | Marathon Oil Corp. | 198 | ||||||
4,577 | Occidental Petroleum Corp. | 449 | ||||||
13,887 | ||||||||
Shares | Security | Value (000) | ||||||
Internet Retail — 0.15% |
| |||||||
9,514 | Amazon.com, Inc. (a) | $ | 1,713 | |||||
Internet Software & Services — 0.52% |
| |||||||
12,011 | eBay, Inc. (a) | 334 | ||||||
8,635 | Google, Inc., Class – A (a) | 5,129 | ||||||
15,289 | Yahoo!, Inc. (a) | 254 | ||||||
5,717 | ||||||||
Investment Banking & Brokerage — 0.07% |
| |||||||
26,864 | Charles Schwab Corp. | 460 | ||||||
13,282 | Morgan Stanley | 361 | ||||||
821 | ||||||||
IT Consulting & Other Services — 0.20% |
| |||||||
25,303 | Accenture PLC, Class – A | 1,227 | ||||||
12,559 | Cognizant Technology Solutions Corp. (a) | 920 | ||||||
4,400 | SAIC, Inc. (a) | 70 | ||||||
2,217 | ||||||||
Life & Health Insurance — 0.09% |
| |||||||
12,065 | Aflac, Inc. | 681 | ||||||
5,467 | MetLife, Inc. | 243 | ||||||
1,200 | Torchmark Corp. | 71 | ||||||
995 | ||||||||
Life Sciences Tools & Services — 0.05% |
| |||||||
900 | Covance, Inc. (a) | 46 | ||||||
1,500 | Pharmaceutical Product Development, Inc. | 41 | ||||||
500 | Techne Corp. | 33 | ||||||
5,900 | Thermo Electron Corp. (a) | 326 | ||||||
1,300 | Waters Corp. (a) | 101 | ||||||
547 | ||||||||
Managed Health Care — 0.08% |
| |||||||
16,200 | UnitedHealth Group, Inc. | 585 | ||||||
5,700 | WellPoint, Inc. (a) | 324 | ||||||
909 | ||||||||
Marine — 0.00% |
| |||||||
800 | Kirby Corp. (a) | 35 | ||||||
Metal & Glass Containers — 0.00% |
| |||||||
1,000 | AptarGroup, Inc. | 48 | ||||||
Movies & Entertainment — 0.05% |
| |||||||
13,441 | News Corp., Class – A | 196 | ||||||
6,678 | Time Warner, Inc. | 215 | ||||||
3,241 | Viacom, Inc., Class – B | 128 | ||||||
539 | ||||||||
Office Electronics — 0.00% |
| |||||||
800 | Zebra Technologies Corp., Class – A (a) | 30 | ||||||
Oil & Gas Equipment & Services — 0.36% |
| |||||||
3,193 | Baker Hughes, Inc. | 182 | ||||||
24,737 | Halliburton Co. | 1,010 |
See accompanying notes to financial statements
32
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Oil & Gas Equipment & Services (continued) |
| |||||||
800 | Oceaneering International, Inc. (a) | $ | 59 | |||||
32,515 | Schlumberger Ltd. | 2,715 | ||||||
3,966 | ||||||||
Oil & Gas Exploration & Production — 0.09% |
| |||||||
6,999 | EOG Resources, Inc. | 640 | ||||||
9,530 | Southwestern Energy Co. (a) | 357 | ||||||
997 | ||||||||
Oil & Gas Storage & Transportation — 0.02% |
| |||||||
6,814 | The Williams Cos., Inc. | 168 | ||||||
Packaged Foods & Meats — 0.13% |
| |||||||
1,100 | Flowers Foods, Inc. | 30 | ||||||
10,944 | General Mills, Inc. | 389 | ||||||
1,000 | Hormel Foods Corp. | 51 | ||||||
9,977 | Kellogg Co. | 510 | ||||||
1,900 | McCormick & Co., Inc. | 88 | ||||||
2,929 | Mead Johnson Nutrition Co. | 182 | ||||||
2,200 | The Hershey Co. | 104 | ||||||
1,700 | The J.M. Smucker Co. | 112 | ||||||
1,466 | ||||||||
Paper Packaging — 0.00% |
| |||||||
1,600 | Bemis Co., Inc. | 52 | ||||||
Personal Products — 0.03% |
| |||||||
6,100 | Avon Products, Inc. | 177 | ||||||
1,600 | The Estee Lauder Cos., Inc. | 129 | ||||||
306 | ||||||||
Pharmaceuticals — 0.82% |
| |||||||
59,917 | Abbott Laboratories | 2,871 | ||||||
12,579 | Allergan, Inc. | 864 | ||||||
20,858 | Eli Lilly & Co. | 731 | ||||||
4,100 | Forest Laboratories, Inc., Class – A (a) | 131 | ||||||
30,726 | Johnson & Johnson | 1,900 | ||||||
35,300 | Merck & Co., Inc. | 1,272 | ||||||
73,100 | Pfizer, Inc. | 1,280 | ||||||
9,049 | ||||||||
Property & Casualty Insurance — 0.02% |
| |||||||
1,379 | ACE Ltd. | 86 | ||||||
1,449 | The Travelers Cos., Inc. | 81 | ||||||
167 | ||||||||
Publishing — 0.03% |
| |||||||
600 | John Wiley & Sons, Inc. | 27 | ||||||
300 | Morningstar, Inc. | 16 | ||||||
4,500 | The McGraw-Hill Cos., Inc. | 164 | ||||||
3,276 | Thomson Reuters Corp. | 122 | ||||||
329 | ||||||||
Shares | Security | Value (000) | ||||||
Railroads — 0.01% |
| |||||||
1,749 | Union Pacific Corp. | $ | 162 | |||||
Regional Banks — 0.00% |
| |||||||
700 | Cullen/Frost Bankers, Inc. | 43 | ||||||
Research and Consulting Services — 0.01% |
| |||||||
1,800 | Equifax, Inc. | 64 | ||||||
1,500 | Versik Analytics, Inc., Class – A (a) | 51 | ||||||
115 | ||||||||
Restaurants — 0.50% |
| |||||||
2,000 | Darden Restaurants, Inc. | 93 | ||||||
44,750 | McDonald’s Corp. | 3,435 | ||||||
400 | Panera Bread Co., Class – A (a) | 40 | ||||||
30,941 | Starbucks Corp. | 994 | ||||||
19,408 | YUM! Brands, Inc. | 952 | ||||||
5,514 | ||||||||
Retail REITs — 0.05% |
| |||||||
5,540 | Simon Property Group, Inc. | 551 | ||||||
Semiconductor Equipment — 0.05% |
| |||||||
36,470 | Applied Materials, Inc. | 512 | ||||||
Semiconductors — 0.30% |
| |||||||
13,471 | Broadcom Corp., Class – A | 587 | ||||||
103,778 | Intel Corp. | 2,182 | ||||||
2,600 | Microchip Technology, Inc. | 89 | ||||||
15,383 | Texas Instruments, Inc. | 500 | ||||||
3,358 | ||||||||
Soft Drinks — 0.63% |
| |||||||
44,347 | PepsiCo, Inc. | 2,897 | ||||||
62,612 | The Coca-Cola Co. | 4,118 | ||||||
7,015 | ||||||||
Specialized Consumer Services — 0.00% |
| |||||||
900 | Hillenbrand, Inc. | 19 | ||||||
500 | Weight Watchers International, Inc. | 19 | ||||||
38 | ||||||||
Specialized Finance — 0.01% |
| |||||||
200 | CBOE Holdings, Inc. | 5 | ||||||
1,100 | InterContinental Exchange, Inc. (a) | 131 | ||||||
136 | ||||||||
Specialized REITs — 0.03% |
| |||||||
3,415 | Public Storage | 346 | ||||||
Specialty Chemicals — 0.03% |
| |||||||
3,344 | Ecolab, Inc. | 169 | ||||||
1,100 | International Flavors & Fragrance, Inc. | 61 | ||||||
1,700 | Sigma-Aldrich Corp. | 113 | ||||||
343 | ||||||||
Specialty Stores — 0.08% |
| |||||||
1,300 | Dick’s Sporting Goods, Inc. (a) | 49 | ||||||
1,200 | Signet Jewelers Ltd. (a) | 52 |
See accompanying notes to financial statements
33
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Specialty Stores (continued) |
| |||||||
30,199 | Staples, Inc. | $ | 688 | |||||
1,776 | Tiffany & Co. | 110 | ||||||
899 | ||||||||
Steel — 0.01% |
| |||||||
3,697 | Nucor Corp. | 162 | ||||||
Systems Software — 0.79% |
| |||||||
1,100 | MICROS Systems, Inc. (a) | 48 | ||||||
139,681 | Microsoft Corp. | 3,900 | ||||||
147,346 | Oracle Corp. | 4,612 | ||||||
2,220 | Symantec Corp. (a) | 37 | ||||||
1,983 | VMware, Inc., Class – A (a) | 177 | ||||||
8,774 | ||||||||
Tobacco — 0.42% |
| |||||||
33,012 | Altria Group, Inc. | 813 | ||||||
2,200 | Lorillard, Inc. | 180 | ||||||
63,318 | Philip Morris International, Inc. | 3,706 | ||||||
4,699 | ||||||||
Trading Companies & Distributors — 0.02% |
| |||||||
1,876 | Fastenal Co. | 112 | ||||||
600 | MSC Industrial Direct Co., Inc., Class – A | 39 | ||||||
800 | W.W. Grainger, Inc. | 111 | ||||||
262 | ||||||||
Trucking — 0.00% |
| |||||||
700 | Landstar System, Inc. | 29 | ||||||
Wireless Telecommunication Services — 0.05% |
| |||||||
11,141 | American Tower Corp., Class – A (a) | 575 | ||||||
Total SSgA Funds Management, Inc. | 179,192 | |||||||
Sustainable Growth Advisers — 33.63% |
| |||||||
Air Freight & Logistics — 1.37% |
| |||||||
163,371 | FedEx Corp. | 15,195 | ||||||
Asset Management & Custody Banks — 1.35% |
| |||||||
322,384 | State Street Corp. | 14,939 | ||||||
Communications Equipment — 2.01% |
| |||||||
300,087 | Juniper Networks, Inc. (a) | 11,079 | ||||||
227,128 | Qualcomm, Inc. | 11,241 | ||||||
22,320 | ||||||||
Computer Hardware — 1.33% |
| |||||||
45,881 | Apple, Inc. (a) | 14,800 | ||||||
Data Processing & Outsourced Services — 2.85% |
| |||||||
327,108 | Automatic Data Processing, Inc. | 15,139 | ||||||
233,696 | Visa, Inc., Class – A | 16,447 | ||||||
31,586 | ||||||||
Shares | Security | Value (000) | ||||||
Fertilizers & Agricultural Chemicals — 0.75% |
| |||||||
119,577 | Monsanto Co. | $ | 8,327 | |||||
Health Care Equipment — 1.71% |
| |||||||
29,341 | Intuitive Surgical, Inc. (a) | 7,563 | ||||||
213,522 | Stryker Corp. | 11,466 | ||||||
19,029 | ||||||||
Health Care Technology — 1.42% |
| |||||||
166,531 | Cerner Corp. (a) | 15,777 | ||||||
Home Improvement Retail — 1.39% |
| |||||||
613,970 | Lowe’s Cos., Inc. | 15,398 | ||||||
Internet Retail — 1.35% |
| |||||||
82,940 | Amazon.com, Inc. (a) | 14,929 | ||||||
Internet Software & Services — 2.75% |
| |||||||
439,130 | eBay, Inc. (a) | 12,221 | ||||||
18,609 | Google, Inc., Class – A (a) | 11,053 | ||||||
156,443 | VistaPrint NV (a) | 7,197 | ||||||
30,471 | ||||||||
Oil & Gas Equipment & Services — 2.48% |
| |||||||
242,131 | National Oilwell Varco, Inc. | 16,283 | ||||||
135,074 | Schlumberger Ltd. | 11,279 | ||||||
27,562 | ||||||||
Pharmaceuticals — 2.53% |
| |||||||
113,035 | Johnson & Johnson | 6,991 | ||||||
52,810 | Novo Nordisk A/S – Sponsored ADR | 5,945 | ||||||
290,106 | Teva Pharmaceutical Industries Ltd. – Sponsored ADR | 15,123 | ||||||
28,059 | ||||||||
Restaurants — 1.09% |
| |||||||
376,334 | Starbucks Corp. | 12,092 | ||||||
Soft Drinks — 2.37% |
| |||||||
173,983 | PepsiCo, Inc. | 11,366 | ||||||
226,589 | The Coca-Cola Co. | 14,903 | ||||||
26,269 | ||||||||
Specialty Chemicals — 1.03% |
| |||||||
226,374 | Ecolab, Inc. | 11,414 | ||||||
Specialty Stores — 1.40% |
| |||||||
681,324 | Staples, Inc. | 15,514 | ||||||
Systems Software — 3.08% |
| |||||||
399,151 | Microsoft Corp. | 11,144 | ||||||
492,650 | Oracle Corp. | 15,420 | ||||||
167,053 | Red Hat, Inc. (a) | 7,626 | ||||||
34,190 | ||||||||
Trading Companies & Distributors — 1.37% |
| |||||||
253,917 | Fastenal Co. | 15,212 | ||||||
Total Sustainable Growth Advisers | 373,083 | |||||||
Total Common Stocks | 900,034 | |||||||
See accompanying notes to financial statements
34
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Security | Value (000) | ||||||
Corporate Bonds — 0.79% |
| |||||||
PIMCO — 0.79% |
| |||||||
Automobiles — 0.17% |
| |||||||
$ | 1,700 | Daimler Finance North America LLC, | $ | 1,924 | ||||
Computers & Peripherals — 0.05% | ||||||||
600 | Hewlett-Packard Co., | 603 | ||||||
Consumer Finance — 0.07% | ||||||||
100 | SLM Corp., MTN, | 102 | ||||||
700 | SLM Corp., Series A, MTN, | 631 | ||||||
733 | ||||||||
Diversified Financial Services — 0.15% |
| |||||||
100 | Citigroup, Inc., | 104 | ||||||
700 | Citigroup, Inc., | 869 | ||||||
500 | Goldman Sachs Group, Inc., | 510 | ||||||
200 | Goldman Sachs Group, Inc., | 193 | ||||||
1,676 | ||||||||
Diversified Telecommunication Services — 0.05% |
| |||||||
600 | Verizon Communications, Inc., | 607 | ||||||
Electric Utilities — 0.15% |
| |||||||
1,600 | IPALCO Enterprises, Inc., | 1,660 | ||||||
Energy Equipment & Services — 0.01% |
| |||||||
100 | El Paso Pipeline Partners Operating Co. LLC, | 105 | ||||||
Insurance — 0.03% |
| |||||||
100 | American International Group, Inc., MTN, | 98 | ||||||
200 | American International Group, Inc., | 198 | ||||||
296 | ||||||||
Real Estate Investment Trusts — 0.11% |
| |||||||
1,100 | Weyerhaeuser Co., | 1,162 | ||||||
Total Corporate Bonds | 8,766 | |||||||
Principal | Security | Value (000) | ||||||
Asset Backed Securities — 0.45% |
| |||||||
PIMCO — 0.45% |
| |||||||
$ | 591 | Asset Backed Funding Certificates, | $ | 483 | ||||
670 | Asset Backed Securities Corp. Home Equity Loan Trust, Series 2007-HE2, Class A2, | 577 | ||||||
482 | Bear Stearns Asset Backed Securities Trust, Series 2007-HE5, Class 1A1, | 464 | ||||||
471 | Carrington Mortgage Loan Trust, | 454 | ||||||
503 | Countrywide Asset-Backed Certificates, | 494 | ||||||
405 | Countrywide Asset-Backed Certificates, | 399 | ||||||
569 | Morgan Stanley Capital, Inc., | 494 | ||||||
455 | Nationstar Home Equity Loan Trust, | 447 | ||||||
336 | SLM Student Loan Trust, | 335 | ||||||
728 | Small Business Administration Participation Certificates, | 781 | ||||||
47 | Small Business Administration Participation Certificates, | 51 | ||||||
Total Asset Backed Securities | 4,979 | |||||||
Collateralized Mortgage Obligations — 3.59% |
| |||||||
PIMCO — 3.59% | ||||||||
718 | American Home Mortgage Investment Trust, Series 2004-3, Class 5A, | 634 | ||||||
21 | American Home Mortgage Investment Trust, Series 2005-2, Class 4A1, | 18 | ||||||
120 | Banc of America Commercial Mortgage, Inc., Series 2006-5, Class A4, | 126 |
See accompanying notes to financial statements
35
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Security | Value (000) | ||||||
Collateralized Mortgage Obligations (continued) |
| |||||||
PIMCO (continued) | ||||||||
$ | 1,096 | Banc of America Funding Corp., | $ | 1,102 | ||||
27 | Banc of America Mortgage Securities, Inc., Series 2006-A, Class 2A1, | 22 | ||||||
152 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2002-11, Class 1A1, | 151 | ||||||
51 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2002-11, Class 1A2, | 47 | ||||||
908 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2003-5, Class 2A1, | 891 | ||||||
781 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2004-6, Class 2A1, | 662 | ||||||
905 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2004-7, Class 1A1, | 701 | ||||||
47 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2004-9, Class 22A1, | 46 | ||||||
29 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2005-2, Class A1, | 27 | ||||||
898 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2005-2, Class A2, | 857 | ||||||
1,182 | Bear Stearns ALT-A Trust, | 910 | ||||||
900 | Citicorp Mortgage Securities, Inc., | 888 | ||||||
449 | Citigroup Mortgage Loan Trust, Inc., | 409 | ||||||
1,253 | Citigroup Mortgage Loan Trust, Inc., | 1,181 | ||||||
132 | Citigroup Mortgage Loan Trust, Inc., | 118 | ||||||
235 | Citigroup Mortgage Loan Trust, Inc., | 221 |
Principal | Security | Value (000) | ||||||
$ | 8 | Citigroup Mortgage Loan Trust, Inc., | $ | 8 | ||||
226 | Countrywide Alternative Loan Trust, | 224 | ||||||
1,155 | Countrywide Alternative Loan Trust, | 764 | ||||||
37 | Countrywide Alternative Loan Trust, | 22 | ||||||
448 | Countrywide Alternative Loan Trust, | 266 | ||||||
37 | Countrywide Alternative Loan Trust, | 27 | ||||||
44 | Countrywide Alternative Loan Trust, | 26 | ||||||
36 | Countrywide Alternative Loan Trust, | 17 | ||||||
1,168 | Countrywide Home Loans, | 741 | ||||||
102 | Countrywide Home Loans, | 69 | ||||||
1,050 | Countrywide Home Loans, | 710 | ||||||
727 | Countrywide Home Loans, | 580 | ||||||
67 | Deutsche Alt-A Securities, Inc., | 67 | ||||||
223 | Fannie Mae Whole Loan, | 246 | ||||||
825 | Fannie Mae, Series 2006-82, Class F, | 831 | ||||||
221 | First Horizon Mortgage Pass-Through Trust, Series 2004-AR1, Class 2A1, | 223 | ||||||
14 | Freddie Mac, Series 2395, Class FT, | 14 | ||||||
822 | Freddie Mac, Series 3174, Class FM, | 821 |
See accompanying notes to financial statements
36
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Security | Value (000) | ||||||
Collateralized Mortgage Obligations (continued) |
| |||||||
PIMCO (continued) | ||||||||
$ | 25 | Freddie Mac, Series 3346, Class FA, | $ | 25 | ||||
1,584 | Freddie Mac, Series 3616, Class FG, | 1,593 | ||||||
89 | Government National Mortgage Association, Series 2000-14, Class F, | 89 | ||||||
5,688 | Government National Mortgage Association, Series 2005-16, Class FA, | 5,675 | ||||||
5,659 | Government National Mortgage Association, Series 2005-3, Class FC, | 5,646 | ||||||
1,717 | Government National Mortgage Association, Series 2008-6, Class FA, | 1,729 | ||||||
1,928 | Greenpoint Mortgage Funding Trust, | 1,286 | ||||||
480 | GSR Mortgage Loan Trust, | 458 | ||||||
1,070 | Harborview Mortgage Loan Trust, | 696 | ||||||
398 | MLCC Mortgage Investors, Inc., | 361 | ||||||
120 | Morgan Stanley Capital I, | 128 | ||||||
864 | Nomura Asset Acceptance Corp., | 658 | ||||||
2,543 | Residential Accredit Loans, Inc., | 1,700 | ||||||
717 | Wamu Mortgage Pass-Through Certificates, | 605 | ||||||
663 | WaMu Mortgage Pass-Through Certificates, | 568 | ||||||
752 | WaMu Mortgage Pass-Through Certificates, | 630 | ||||||
474 | Wells Fargo Mortgage Backed Securities Trust, Series 2003-M, Class A1, | 488 |
Principal | Security | Value (000) | ||||||
$ | 479 | Wells Fargo Mortgage Backed Securities Trust, Series 2004-CC, Class A1, | $ | 482 | ||||
600 | Wells Fargo Mortgage Backed Securities Trust, Series 2005-AR16, Class 4A2, | 504 | ||||||
247 | Wells Fargo Mortgage Backed Securities Trust, Series 2005-AR2, Class 2A2, | 227 | ||||||
1,847 | Wells Fargo Mortgage Backed Securities Trust, Series 2006-AR2, Class 2A1, | 1,633 | ||||||
Total Collateralized Mortgage Obligations | 39,848 | |||||||
Certificates of Deposit — 0.12% |
| |||||||
PIMCO — 0.12% |
| |||||||
1,300 | Intesa Sanpaolo New York, | 1,305 | ||||||
Total Certificates of Deposit | 1,305 | |||||||
Global Bonds — 0.78% |
| |||||||
PIMCO — 0.78% |
| |||||||
Denmark — 0.27% |
| |||||||
900 | Bundesrepub. Deutschland, | 1,335 | ||||||
900 | Bundesrepub. Deutschland, | 1,315 | ||||||
200 | Bundesrepub. Deutschland, | 296 | ||||||
2,946 | ||||||||
Ireland — 0.15% |
| |||||||
1,300 | Depfa ACS Bank, MTN, | 1,717 | ||||||
Netherlands — 0.08% |
| |||||||
300 | Deutsche Telekom International Finance BV, | 506 | ||||||
300 | Rabobank Nederland NV, MTN, | 379 | ||||||
885 | ||||||||
Norway — 0.13% | ||||||||
7,404 | Norwegian Government Bond, | 1,385 | ||||||
United States — 0.15% | ||||||||
900 | Citigroup, Inc., Series E, MTN, | 1,185 | ||||||
400 | Goldman Sachs Group, Inc., | 519 | ||||||
1,704 | ||||||||
Total Global Bonds | 8,637 | |||||||
See accompanying notes to financial statements
37
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Security | Value (000) | ||||||
Municipal Bonds — 0.30% | ||||||||
PIMCO — 0.30% | ||||||||
California — 0.15% | ||||||||
$ | 1,000 | Irvine Ranch California Water District Joint Powers Agency Revenue, | $ | 1,014 | ||||
700 | Irvine Ranch California Water District Joint Powers Agency Revenue, | 710 | ||||||
1,724 | ||||||||
Illinois — 0.13% | ||||||||
1,400 | Illinois State, GO, 1.82%, 1/1/11 | 1,400 | ||||||
Washington — 0.02% | ||||||||
200 | Port Seattle Washington Revenue, | 213 | ||||||
Total Municipal Bonds | 3,337 | |||||||
U.S. Government Agency Mortgages — 3.50% |
| |||||||
PIMCO — 3.50% | ||||||||
432 | Fannie Mae, Pool #735591, | 452 | ||||||
66 | Fannie Mae, Pool #852682, | 72 | ||||||
19 | Fannie Mae, Pool #889414, | 20 | ||||||
882 | Fannie Mae, Pool #946254, | 959 | ||||||
648 | Fannie Mae, Pool #994263, | 669 | ||||||
1,308 | Fannie Mae, Pool #AD2287, | 1,353 | ||||||
7,284 | Fannie Mae, Pool #AD5674, | 7,483 | ||||||
3,500 | Fannie Mae, Pool #AE2452, | 3,485 | ||||||
4,437 | Fannie Mae, Pool #AE4414, | 4,418 | ||||||
5,000 | Fannie Mae, Pool #AE6176, | 4,979 | ||||||
2,537 | Fannie Mae, Pool #AE6222, | 2,526 | ||||||
2,640 | Fannie Mae, Pool #AE7224, | 2,629 | ||||||
2,000 | Fannie Mae, Pool #AE7723, | 1,992 | ||||||
2,399 | Fannie Mae, Pool #AE7848, | 2,389 | ||||||
3,000 | Fannie Mae, Pool #AH0441, | 2,987 | ||||||
487 | Fannie Mae, Pool #AH0609, | 485 |
Principal | Security | Value (000) | ||||||
$ | 2,000 | Fannie Mae, Pool #AH1831, | $ | 1,992 | ||||
Total U.S. Government Agency Mortgages | 38,890 | |||||||
U.S. Treasury Obligations — 3.30% | ||||||||
PIMCO — 3.27% | ||||||||
18,700 | U.S. Treasury Bills, | 18,685 | ||||||
629 | U.S. Treasury Bills, | 629 | ||||||
5,027 | U.S. Treasury Bills, | 5,024 | ||||||
7,610 | U.S. Treasury Bills, | 7,610 | ||||||
434 | U.S. Treasury Bills, | 434 | ||||||
77 | U.S. Treasury Bills, | 77 | ||||||
600 | U.S. Treasury Notes, | 592 | ||||||
1,200 | U.S. Treasury Notes, | 1,213 | ||||||
1,400 | U.S. Treasury Notes, | 1,463 | ||||||
200 | U.S. Treasury Inflation Index Notes, | 257 | ||||||
300 | U.S. Treasury Inflation Index Notes, | 333 | ||||||
Total PIMCO | 36,317 | |||||||
SSgA Funds Management, Inc. — 0.03% |
| |||||||
150 | U.S. Treasury Bills, | 150 | ||||||
75 | U.S. Treasury Bills, | 75 | ||||||
73 | U.S. Treasury Bills, | 73 | ||||||
Total SSgA Funds Management, Inc. | 298 | |||||||
Total U.S. Treasury Obligations | 36,615 | |||||||
Yankee Dollars — 0.51% |
| |||||||
PIMCO — 0.51% |
| |||||||
Aerospace & Defense — 0.07% |
| |||||||
800 | Waha Aerospace BV, | 798 | ||||||
Air Freight & Logistics — 0.01% |
| |||||||
100 | Intesa Sanpaolo SpA, | 99 | ||||||
See accompanying notes to financial statements
38
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares or | Security | Value (000) | ||||||
Yankee Dollars (continued) |
| |||||||
PIMCO (continued) |
| |||||||
Commercial Banks — 0.05% |
| |||||||
$ | 200 | Export-Import Bank of Korea, | $ | 206 | ||||
200 | Export-Import Bank of Korea, | 217 | ||||||
200 | Export-Import Bank of Korea, | 203 | ||||||
626 | ||||||||
Diversified Financial Services — 0.03% |
| |||||||
300 | TNK-BP Finance SA, Series 6, MTN, | 340 | ||||||
Metals & Mining — 0.13% |
| |||||||
1,300 | Vale Overseas Ltd., | 1,436 | ||||||
Oil, Gas & Consumable Fuels — 0.06% |
| |||||||
600 | Petrobras International Finance Co., | 639 | ||||||
Real Estate Management & Development — 0.12% |
| |||||||
1,300 | Qatari Diar Finance QSC, | 1,294 | ||||||
Wireless Telecommunication Services — 0.04% |
| |||||||
400 | Deutsche Telekom International Finance BV, 5.38%, 3/23/11 | 404 | ||||||
Total Yankee Dollars | 5,636 | |||||||
Time Deposits — 1.66% |
| |||||||
Jennison Associates LLC — 1.27% |
| |||||||
14,077 | State Street Liquidity Management Control System Time Deposit, | 14,077 | ||||||
Sustainable Growth Advisers — 0.39% |
| |||||||
4,329 | State Street Liquidity Management Control System Time Deposit, | 4,329 | ||||||
Total Time Deposits | 18,406 | |||||||
Mutual Funds — 0.31% |
| |||||||
PIMCO — 0.31% |
| |||||||
3,344,869 | SSgA U.S. Government Money Market 0.00% (c) | 3,345 | ||||||
72,100 | Alliance Money Market Fund Prime Portfolio, 0.16% (c) | 72 | ||||||
Total Mutual Funds | 3,417 | |||||||
Contracts or | Security | Value (000) | ||||||
Put Options Purchased — 0.00% |
| |||||||
PIMCO — 0.00% |
| |||||||
330 | S&P 500 Future Expiring March, 2010 at $525 | $ | 4 | |||||
Total Put Options Purchased | 4 | |||||||
Repurchase Agreements — 2.33% |
| |||||||
PIMCO — 2.33% |
| |||||||
$ | 19,000 | Credit Suisse Securities, 0.23%, 1/3/11, (Purchased on 12/31/10, proceeds to maturity $19,000,364, collateralized by U.S. Treasury Note, 1.00%, 9/30/11 fair value $19,274,000) | 19,000 | |||||
6,900 | Deutsche Bank, 0.20%, 1/3/11, (Purchased on 12/31/10, proceeds to maturity $6,900,115, collateralized by U.S. Treasury Bond, 4.38%, 5/15/40 fair value $7,014,000) | 6,900 | ||||||
Total Repurchase Agreements | 25,900 | |||||||
Total Investments Before TBA Sale Commitments | 1,095,774 | |||||||
TBA Sale Commitments (see summary below) — (3.20)% | (35,560 | ) | ||||||
Other assets in excess of liabilities — 4.44% | 49,293 | |||||||
Net Assets — 100.00% | $ | 1,109,507 | ||||||
TBA Sale Commitments (g) — (3.20)% |
| |||||||
PIMCO — (3.20)% |
| |||||||
$ | (500 | ) | Fannie Mae, 27 YR TBA, | $ | (543 | ) | ||
(28,000 | ) | Fannie Mae, 30 YR TBA, | (27,852 | ) | ||||
(7,000 | ) | Fannie Mae, 40 YR TBA, | (7,165 | ) | ||||
Total TBA Sale Commitments | $ | (35,560 | ) | |||||
See accompanying notes to financial statements
39
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
(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) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2010. |
(d) | The principal amount is disclosed in local currency and the value is disclosed in U.S. Dollars. |
(e) | Rate disclosed represents effective yield at purchase. |
(f) | All or part of this security has been pledged as collateral for various derivative contracts held by the Portfolio. |
(g) | Represents a “to-be-announced” transaction. The Portfolio has committed to purchasing (selling) securities for which all specific information is not available at this time. (See Note 2 in Notes to Financial Statements). |
ADR — American Depositary Receipt
GDR — Global Depositary Receipt
GO — General Obligation
MTN — Medium Term Note
REITs — Real Estate Investment Trusts
TBA — Security is subject to delayed delivery.
Futures
PIMCO
Number of | Futures Contracts Positions | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
266 | S&P 500 E-Mini Future | $ | 16,665 | Mar-11 | $ | 682 | ||||||||||
553 | S&P 500 Future | 173,227 | Mar-11 | 5,710 | ||||||||||||
$ | 6,392 | |||||||||||||||
SSgA Funds Management, Inc.
Number of | Futures Contracts Positions | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
17 | NASDAQ 100 E-Mini Future | $ | 753 | Mar-11 | $ | 5 | ||||||||||
17 | S&P 500 E-Mini Future | 1,065 | Mar-11 | 15 | ||||||||||||
$ | 20 | |||||||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | 6,412 | ||||||||||||||
See accompanying notes to financial statements
40
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Currency Contracts
PIMCO
Contract | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/10 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
Currencies Purchased | ||||||||||||||||||||||
900,000 | Australian Dollar | Royal Bank of Scotland | 1/28/11 | $ | 857 | $ | 917 | $ | 60 | |||||||||||||
1,069,635 | Brazilian Real | JP Morgan Chase | 2/2/11 | 120 | 125 | 5 | ||||||||||||||||
169,900 | Brazilian Real | HSBC | 2/2/11 | 789 | 815 | 26 | ||||||||||||||||
208,500 | Brazilian Real | Citibank | 3/2/11 | 627 | 636 | 9 | ||||||||||||||||
1,362,860 | Brazilian Real | HSBC | 3/2/11 | 100 | 101 | 1 | ||||||||||||||||
10,400,000 | Chinese Renminbi | Morgan Stanley | 9/14/11 | 1,800 | 1,825 | 25 | ||||||||||||||||
11,980,800 | Chinese Renminbi | Royal Bank of Scotland | 9/8/15 | 1,600 | 1,628 | 28 | ||||||||||||||||
11,520,000 | Chinese Renminbi | Royal Bank of Scotland | 9/8/15 | 1,800 | 1,803 | 3 | ||||||||||||||||
1,718,000 | Danish Kroner | Royal Bank of Scotland | 2/7/11 | 320 | 308 | (12 | ) | |||||||||||||||
599,600 | Euro | Credit Suisse | 1/25/11 | 793 | 801 | 8 | ||||||||||||||||
13,000,000 | Indian Rupee | Royal Bank of Scotland | 3/9/11 | 289 | 287 | (2 | ) | |||||||||||||||
24,732,000 | Indian Rupee | Barclays Bank | 3/9/11 | 547 | 546 | (1 | ) | |||||||||||||||
4,185,000 | Indian Rupee | JP Morgan Chase | 3/9/11 | 90 | 92 | 2 | ||||||||||||||||
370,000 | Malaysian Ringgit | Barclays Bank | 2/7/11 | 119 | 120 | 1 | ||||||||||||||||
340,000 | Malaysian Ringgit | Citibank | 2/7/11 | 110 | 110 | — | ||||||||||||||||
310,000 | Malaysian Ringgit | Royal Bank of Scotland | 2/7/11 | 100 | 100 | — | ||||||||||||||||
1,462,560 | Malaysian Ringgit | Barclays Bank | 2/7/11 | 471 | 473 | 2 | ||||||||||||||||
348,700 | Malaysian Ringgit | Citibank | 2/7/11 | 110 | 113 | 3 | ||||||||||||||||
11,907,000 | Norwegian Krone | Citibank | 2/7/11 | 2,017 | 2,038 | 21 | ||||||||||||||||
600,000 | Norwegian Krone | Citibank | 2/7/11 | 99 | 103 | 4 | ||||||||||||||||
1,300,000 | Norwegian Krone | Citibank | 2/7/11 | 213 | 223 | 10 | ||||||||||||||||
190,000 | Singapore Dollars | Bank of America | 3/9/11 | 141 | 148 | 7 | ||||||||||||||||
130,000 | Singapore Dollars | JP Morgan Chase | 3/9/11 | 96 | 101 | 5 | ||||||||||||||||
260,000 | Singapore Dollars | Bank of America | 3/9/11 | 193 | 203 | 10 | ||||||||||||||||
160,000 | Singapore Dollars | JP Morgan Chase | 3/9/11 | 119 | 125 | 6 | ||||||||||||||||
190,000 | Singapore Dollars | Bank of America | 3/9/11 | 142 | 148 | 6 | ||||||||||||||||
1,361,830 | Singapore Dollars | Citibank | 3/9/11 | 50 | 51 | 1 | ||||||||||||||||
65,956 | Singapore Dollars | JP Morgan Chase | 6/9/11 | 1,045 | 1,062 | 17 | ||||||||||||||||
Total Currencies Purchased | $ | 14,757 | $ | 15,002 | $ | 245 | ||||||||||||||||
Currencies Sold | ||||||||||||||||||||||
11,970,000 | Brazilian Real | Royal Bank of Scotland | 2/2/11 | $ | 911 | $ | 940 | $ | (29 | ) | ||||||||||||
1,362,860 | Brazilian Real | HSBC | 4/4/11 | 779 | 806 | (27 | ) | |||||||||||||||
343,000 | British Pound | Royal Bank of Scotland | 3/21/11 | 536 | 534 | 2 | ||||||||||||||||
11,980,800 | Chinese Renminbi | Royal Bank of Scotland | 9/14/11 | 1,800 | 1,824 | (24 | ) | |||||||||||||||
1,097,000 | Danish Kroner | Royal Bank of Scotland | 2/7/11 | 328 | 316 | 12 | ||||||||||||||||
1,571,360 | Euro | Citibank | 1/6/11 | 6,508 | 6,427 | 81 | ||||||||||||||||
1,328,000 | Euro | Citibank | 1/25/11 | 1,525 | 1,466 | 59 | ||||||||||||||||
392,000 | Euro | Royal Bank of Scotland | 1/25/11 | 1,863 | 1,774 | 89 | ||||||||||||||||
233,000 | Euro | Royal Bank of Scotland | 1/25/11 | 556 | 524 | 32 | ||||||||||||||||
4,810,000 | Euro | JP Morgan Chase | 1/25/11 | 323 | 311 | 12 | ||||||||||||||||
2,350,000 | Euro | Barclays Bank | 1/25/11 | 3,078 | 3,140 | (62 | ) | |||||||||||||||
27,632,000 | Japanese Yen | Royal Bank of Scotland | 1/14/11 | 329 | 340 | (11 | ) | |||||||||||||||
13,816,000 | Japanese Yen | Royal Bank of Scotland | 1/14/11 | 164 | 170 | (6 | ) |
See accompanying notes to financial statements
41
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Currency Contracts (continued)
PIMCO (continued)
Contract | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/10 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
Currencies Sold (continued) | ||||||||||||||||||||||
23,212,000 | Japanese Yen | Gold | 1/14/11 | 276 | 286 | (10 | ) | |||||||||||||||
10,000,000 | Japanese Yen | Citibank | 1/14/11 | 120 | 123 | (3 | ) | |||||||||||||||
Total Currencies Sold | $ | 19,096 | $ | 18,981 | $ | 115 | ||||||||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | 360 | ||||||||||||||||||||
Written Options
PIMCO
Number of | Security Description | Exercise Price | Premium (000) | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
(6 | ) | S&P 500 Future Call | $ | 1,275 | $ | (12 | ) | $ | (12 | ) | Jan-11 | $ | — | |||||||||||
(6 | ) | S&P 500 Future Put | 1,190 | (16 | ) | (6 | ) | Jan-11 | 10 | |||||||||||||||
(1,320 | ) | Put – Interest Rate Option U.S. Dollar 2 – Year Interest | 2 | (78 | ) | (178 | ) | Sep-12 | (100 | ) | ||||||||||||||
(32 | ) | Call – U.S. Treasury 10 Year Future Option | 123 | (7 | ) | (5 | ) | Jan-11 | 2 | |||||||||||||||
(32 | ) | Put – U.S. Treasury 10 Year Future Option | 118 | (22 | ) | (8 | ) | Jan-11 | 14 | |||||||||||||||
Net Unrealized Appreciation/(Depreciation ) | $ | (135 | ) | $ | (209 | ) | $ | (74 | ) | |||||||||||||||
Interest Rate SWAP Agreements
PIMCO
Swap Agreements | Notional | Swap Premiums Paid (000) | Amount at Value (000) | Expiration Date | Fixed Rate | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Interest Rate Swap Agreement with Goldman Sachs, based on the London Interbank Offer Rate Index | $ | 1,200 | $ | — | $ | 11 | 11/2/20 | 0.29 | % | $ | 11 | |||||||||||||
Interest Rate Swap Agreement with Citibank NA, based on the London Interbank Offer Rate Index | 1,100 | — | 34 | 11/2/15 | 1.45 | % | 34 | |||||||||||||||||
Interest Rate Swap Morgan Stanley Capital Services, Inc., based on the London Interbank Offer Rate Index | 900 | — | 27 | 11/2/15 | 1.45 | % | 27 | |||||||||||||||||
Interest Rate Swap Agreement with Barclays Bank, based on the London Interbank Offer Rate Index | 5,900 | 12 | 321 | 12/15/20 | 2.75 | % | 309 | |||||||||||||||||
Interest Rate Swap Agreement with HSBC Bank USA, based on the Brazil Cetip Interbank Deposit Rate Index | 15,000 | 61 | 122 | 1/2/12 | 11.36 | % | 61 | |||||||||||||||||
Interest Rate Swap Agreement with Barclays Bank, based on the Brazil Cetip Interbank Deposit Rate Index | 5,500 | 28 | 25 | 1/2/14 | 11.99 | % | (3 | ) | ||||||||||||||||
$ | 101 | $ | 540 | $ | 439 | |||||||||||||||||||
See accompanying notes to financial statements
42
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 98.89% |
| |||||||
Frontier Capital Management Company, LLC — 22.29% |
| |||||||
Aerospace & Defense — 0.51% |
| |||||||
4,315 | Goodrich Corp. | $ | 380 | |||||
12,443 | Orbital Sciences Corp. (a) | 213 | ||||||
23,103 | TASER International, Inc. (a) | 109 | ||||||
702 | ||||||||
Air Freight & Logistics — 0.20% |
| |||||||
7,937 | Hub Group, Inc., Class – A (a) | 279 | ||||||
Airlines — 0.36% |
| |||||||
2,200 | Alaska Air Group, Inc. (a) | 125 | ||||||
9,300 | AMR Corp. (a) | 72 | ||||||
20,400 | JetBlue Airways Corp. (a) | 135 | ||||||
6,800 | United Continental Holdings, Inc. (a) | 162 | ||||||
494 | ||||||||
Alternative Carriers — 0.15% |
| |||||||
31,573 | Premiere Global Services, Inc. (a) | 215 | ||||||
Apparel Retail — 0.26% |
| |||||||
30,158 | Chico’s FAS, Inc. | 363 | ||||||
Application Software — 0.74% |
| |||||||
17,762 | Amdocs Ltd. (a) | 488 | ||||||
5,113 | Manhattan Associates, Inc. (a) | 156 | ||||||
5,200 | Motricity, Inc. (a) | 97 | ||||||
11,700 | Sonic Solutions (a) | 175 | ||||||
12,991 | TiVo, Inc. (a) | 112 | ||||||
1,028 | ||||||||
Asset Management & Custody Banks — 0.20% |
| |||||||
7,689 | Waddell & Reed Financial, Inc., Class – A | 271 | ||||||
Auto Parts & Equipment — 0.49% |
| |||||||
4,108 | Autoliv, Inc. | 324 | ||||||
4,665 | Gentex Corp. | 138 | ||||||
3,625 | WABCO Holdings, Inc. (a) | 221 | ||||||
683 | ||||||||
Biotechnology — 0.19% |
| |||||||
6,674 | BioMarin Pharmaceutical, Inc. (a) | 180 | ||||||
19,835 | Nanosphere, Inc. (a) | 86 | ||||||
266 | ||||||||
Coal & Consumable Fuels — 0.29% |
| |||||||
4,991 | CONSOL Energy, Inc. | 243 | ||||||
3,087 | Massey Energy Co. | 166 | ||||||
409 | ||||||||
Commodity Chemicals — 0.05% |
| |||||||
9,300 | Zagg, Inc. (a) | 71 | ||||||
Communications Equipment — 0.36% |
| |||||||
4,005 | ADTRAN, Inc. | 145 | ||||||
6,132 | Anaren, Inc. (a) | 128 |
Shares | Security Description | Value (000) | ||||||
Communications Equipment — (continued) |
| |||||||
12,508 | Arris Group, Inc. (a) | $ | 140 | |||||
3,905 | Ciena Corp. (a) | 82 | ||||||
495 | ||||||||
Computer Hardware — 0.31% |
| |||||||
14,320 | Avid Technology, Inc. (a) | 250 | ||||||
5,572 | Diebold, Inc. | 179 | ||||||
429 | ||||||||
Computer Storage & Peripherals — 0.21% |
| |||||||
8,678 | Western Digital Corp. (a) | 294 | ||||||
Construction & Engineering — 0.87% |
| |||||||
11,400 | Chicago Bridge & Iron Co. NV (a) | 375 | ||||||
4,306 | Fluor Corp. | 285 | ||||||
6,573 | Foster Wheeler AG (a) | 227 | ||||||
2,886 | Jacobs Engineering Group, Inc. (a) | 132 | ||||||
1,500 | MYR Group, Inc. (a) | 32 | ||||||
7,967 | Quanta Services, Inc. (a) | 159 | ||||||
1,210 | ||||||||
Construction & Farm Machinery & Heavy |
| |||||||
4,069 | Navistar International Corp. (a) | 236 | ||||||
Consumer Electronics — 0.24% |
| |||||||
7,288 | Harman International Industries, Inc. (a) | 337 | ||||||
Data Processing & Outsourced Services — 0.15% |
| |||||||
1,500 | Alliance Data Systems Corp. (a) | 106 | ||||||
2,334 | Global Payments, Inc. | 108 | ||||||
214 | ||||||||
Distributors — 0.06% |
| |||||||
3,364 | LKQ Corp. (a) | 76 | ||||||
Diversified Chemicals — 0.44% |
| |||||||
10,306 | Cabot Corp. | 388 | ||||||
2,836 | FMC Corp. | 227 | ||||||
615 | ||||||||
Diversified Metals & Mining — 0.18% |
| |||||||
3,859 | Brush Engineered Materials, Inc. (a) | 149 | ||||||
3,896 | RTI International Metals, Inc. (a) | 105 | ||||||
254 | ||||||||
Diversified Support Services — 0.07% |
| |||||||
4,021 | Ritchie Bros. Auctioneers, Inc. | 93 | ||||||
Electrical Components & Equipment — 0.67% |
| |||||||
3,800 | A.O. Smith Corp. | 145 | ||||||
13,102 | Belden, Inc. | 482 | ||||||
1,497 | Franklin Electric Co., Inc. | 58 | ||||||
2,795 | Hubbell, Inc., Class – B | 168 | ||||||
1,464 | Thomas & Betts Corp. (a) | 71 | ||||||
924 | ||||||||
See accompanying notes to financial statements
43
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Frontier Capital Management Company, LLC (continued) |
| |||||||
Electronic Components — 0.69% |
| |||||||
6,866 | DTS, Inc. (a) | $ | 337 | |||||
16,347 | Rogers Corp. (a) | 625 | ||||||
962 | ||||||||
Electronic Equipment & Instruments — 0.30% |
| |||||||
5,884 | Cognex Corp. | 173 | ||||||
2,783 | Itron, Inc. (a) | 154 | ||||||
2,300 | OSI Systems, Inc. (a) | 84 | ||||||
411 | ||||||||
Electronic Manufacturing Services — 0.34% |
| |||||||
34,961 | Flextronics International Ltd. (a) | 274 | ||||||
9,697 | Jabil Circuit, Inc. | 195 | ||||||
469 | ||||||||
Environmental & Facilities Services — 0.38% |
| |||||||
3,787 | Clean Harbors, Inc. (a) | 318 | ||||||
6,889 | Republic Services, Inc., Class – A | 206 | ||||||
524 | ||||||||
General Merchandise Stores — 0.21% |
| |||||||
5,274 | Dollar Tree, Inc. (a) | 296 | ||||||
Health Care Equipment — 1.11% |
| |||||||
2,800 | Beckman Coulter, Inc. | 211 | ||||||
2,800 | CONMED Corp. (a) | 74 | ||||||
40,397 | DexCom, Inc. (a) | 551 | ||||||
29,154 | Insulet Corp. (a) | 452 | ||||||
7,400 | MAKO Surgical Corp. (a) | 113 | ||||||
13,554 | Syneron Medical Ltd. (a) | 138 | ||||||
1,539 | ||||||||
Health Care Facilities — 0.09% |
| |||||||
5,100 | VCA Antech, Inc. (a) | 119 | ||||||
Health Care Services — 0.36% |
| |||||||
5,346 | Catalyst Health Solutions, Inc. (a) | 248 | ||||||
3,785 | Mednax, Inc. (a) | 255 | ||||||
503 | ||||||||
Health Care Supplies — 0.53% |
| |||||||
13,024 | The Cooper Cos., Inc. | 734 | ||||||
Industrial Conglomerates — 0.08% |
| |||||||
2,788 | Carlisle Cos., Inc. | 111 | ||||||
Industrial Machinery — 0.59% |
| |||||||
11,262 | Albany International Corp., Class – A | 267 | ||||||
3,830 | Kadant, Inc. (a) | 90 | ||||||
4,780 | Kaydon Corp. | 195 | ||||||
4,160 | Pall Corp. | 206 | ||||||
1,783 | Pentair, Inc. | 65 | ||||||
823 | ||||||||
Shares | Security Description | Value (000) | ||||||
Insurance Brokers — 0.18% |
| |||||||
7,324 | Willis Group Holdings PLC | $ | 254 | |||||
Integrated Oil & Gas — 0.19% |
| |||||||
3,678 | Interoil Corp. (a) | 265 | ||||||
Internet Software & Services — 0.87% |
| |||||||
20,387 | Cogent Communications Group, Inc. (a) | 288 | ||||||
3,853 | comScore, Inc. (a) | 86 | ||||||
5,900 | Constant Contact, Inc. (a) | 183 | ||||||
1,500 | Equinix, Inc. (a) | 122 | ||||||
10,400 | Monster Worldwide, Inc. (a) | 246 | ||||||
10,500 | QuinStreet, Inc. (a) | 202 | ||||||
2,700 | VeriSign, Inc. | 88 | ||||||
1,215 | ||||||||
Investment Banking & Brokerage — 0.22% |
| |||||||
13,702 | GFI Group, Inc. | 64 | ||||||
7,215 | Raymond James Financial, Inc. | 236 | ||||||
300 | ||||||||
Life Sciences Tools & Services — 0.46% |
| |||||||
1,600 | Complete Genomics, Inc. (a) | 12 | ||||||
5,020 | Illumina, Inc. (a) | 318 | ||||||
4,527 | Pharmaceutical Product Development, Inc. | 123 | ||||||
9,797 | QIAGEN NV (a) | 191 | ||||||
644 | ||||||||
Marine — 0.07% |
| |||||||
2,161 | Kirby Corp. (a) | 95 | ||||||
Metal & Glass Containers — 0.62% |
| |||||||
25,648 | Crown Holdings, Inc. (a) | 856 | ||||||
Mortgage REITs — 0.39% |
| |||||||
20,384 | Annaly Capital Management, Inc. | 365 | ||||||
41,731 | Chimera Investment Corp. | 172 | ||||||
537 | ||||||||
Oil & Gas Drilling — 0.14% |
| |||||||
5,353 | Noble Corp. | 191 | ||||||
Oil & Gas Equipment & Services — 0.50% |
| |||||||
2,508 | Core Laboratories NV | 223 | ||||||
5,321 | Dril-Quip, Inc. (a) | 414 | ||||||
6,400 | Willbros Group, Inc. (a) | 63 | ||||||
700 | ||||||||
Oil & Gas Exploration & Production — 0.42% |
| |||||||
5,013 | Cabot Oil & Gas Corp. | 190 | ||||||
4,116 | Continental Resources, Inc. (a) | 242 | ||||||
8,200 | Denbury Resources, Inc. (a) | 157 | ||||||
589 | ||||||||
Oil & Gas Refining & Marketing — 0.39% |
| |||||||
14,981 | Rex Energy Corp. (a) | 205 | ||||||
9,378 | World Fuel Services Corp. | 339 | ||||||
544 | ||||||||
See accompanying notes to financial statements
44
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Frontier Capital Management Company, LLC (continued) |
| |||||||
Packaged Foods & Meats — 0.08% |
| |||||||
5,404 | Smithfield Foods, Inc. (a) | $ | 112 | |||||
Paper Packaging — 0.11% |
| |||||||
6,055 | Packaging Corp. of America | 156 | ||||||
Paper Products — 0.09% |
| |||||||
6,340 | Neenah Paper, Inc. | 125 | ||||||
Pharmaceuticals — 0.10% |
| |||||||
2,117 | Perrigo Co. | 134 | ||||||
Precious Metals & Minerals — 0.10% |
| |||||||
12,919 | Hecla Mining Co. (a) | 145 | ||||||
Property & Casualty Insurance — 0.20% |
| |||||||
10,216 | W.R. Berkley Corp. | 280 | ||||||
Railroads — 0.15% |
| |||||||
4,411 | Kansas City Southern Industries, Inc. (a) | 211 | ||||||
Regional Banks — 0.36% |
| |||||||
70,181 | CapitalSource, Inc. | 498 | ||||||
Reinsurance — 0.17% |
| |||||||
2,779 | Everest Re Group Ltd. | 236 | ||||||
Restaurants — 0.07% |
| |||||||
3,195 | The Cheesecake Factory, Inc. (a) | 98 | ||||||
Semiconductor Equipment — 0.64% |
| |||||||
8,726 | ATMI, Inc. (a) | 174 | ||||||
4,806 | Cabot Microelectronics Corp. (a) | 199 | ||||||
6,761 | Cymer, Inc. (a) | 305 | ||||||
6,300 | MEMC Electronic Materials, Inc. (a) | 71 | ||||||
3,200 | Veeco Instruments, Inc. (a) | 137 | ||||||
886 | ||||||||
Semiconductors — 2.17% |
| |||||||
6,745 | Altera Corp. | 240 | ||||||
7,901 | Fairchild Semiconductor International, Inc. (a) | 123 | ||||||
25,826 | Integrated Device Technology, Inc. (a) | 172 | ||||||
11,126 | International Rectifier Corp. (a) | 330 | ||||||
11,006 | Maxim Integrated Products, Inc. | 260 | ||||||
9,116 | Microsemi Corp. (a) | 209 | ||||||
12,770 | Monolithic Power Systems, Inc. (a) | 211 | ||||||
8,493 | National Semiconductor Corp. | 117 | ||||||
3,700 | ON Semiconductor Corp. (a) | 37 | ||||||
18,101 | PMC-Sierra, Inc. (a) | 155 | ||||||
1,000 | Power Integrations, Inc. | 40 | ||||||
3,567 | Silicon Laboratories, Inc. (a) | 164 | ||||||
33,414 | Skyworks Solutions, Inc. (a) | 957 | ||||||
3,015 | ||||||||
Specialized Consumer Services — 0.24% |
| |||||||
7,509 | Sotheby’s | 338 | ||||||
Specialized Finance — 0.07% |
| |||||||
3,700 | Moody’s Corp. | 98 | ||||||
Shares | Security Description | Value (000) | ||||||
Specialty Chemicals — 0.27% |
| |||||||
6,683 | Albemarle Corp. | $ | 373 | |||||
Systems Software — 0.18% |
| |||||||
1,700 | Ariba, Inc. (a) | 40 | ||||||
3,411 | Rovi Corp. (a) | 211 | ||||||
251 | ||||||||
Trading Companies & Distributors — 0.21% |
| |||||||
4,581 | Watsco, Inc. | 289 | ||||||
Trucking — 0.14% |
| |||||||
4,839 | Landstar System, Inc. | 198 | ||||||
Wireless Telecommunication Services — 0.64% |
| |||||||
18,487 | MetroPCS Communications, Inc. (a) | 233 | ||||||
8,494 | NII Holdings, Inc., Class – B (a) | 379 | ||||||
4,800 | SBA Communications Corp., Class – A (a) | 197 | ||||||
2,400 | Syniverse Holdings, Inc. (a) | 74 | ||||||
883 | ||||||||
Total Frontier Capital Management Company, LLC | 30,965 | |||||||
IronBridge Capital Management LP — 23.07% |
| |||||||
Aerospace & Defense — 0.94% |
| |||||||
6,263 | Esterline Technologies Corp. (a) | 430 | ||||||
8,802 | Moog, Inc., Class – A (a) | 350 | ||||||
12,810 | Orbital Sciences Corp. (a) | 219 | ||||||
3,475 | Triumph Group, Inc. | 311 | ||||||
1,310 | ||||||||
Agricultural Products — 0.23% |
| |||||||
6,995 | Corn Products International, Inc. | 322 | ||||||
Apparel Retail — 0.36% |
| |||||||
8,296 | The Buckle, Inc. | 313 | ||||||
3,485 | Under Armour, Inc., Class – A (a) | 191 | ||||||
504 | ||||||||
Application Software — 0.66% |
| |||||||
7,310 | Informatica Corp. (a) | 322 | ||||||
9,292 | Jack Henry & Associates, Inc. | 271 | ||||||
14,207 | Parametric Technology Corp. (a) | 320 | ||||||
913 | ||||||||
Asset Management & Custody Banks — 0.17% |
| |||||||
6,563 | Waddell & Reed Financial, Inc., Class – A | 232 | ||||||
Auto Parts & Equipment — 0.12% |
| |||||||
10,574 | Modine Manufacturing Co. (a) | 164 | ||||||
Biotechnology — 0.33% |
| |||||||
8,195 | Cepheid, Inc. (a) | 187 | ||||||
8,884 | Martek Biosciences Corp. (a) | 278 | ||||||
465 | ||||||||
See accompanying notes to financial statements
45
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
IronBridge Capital Management LP (continued) |
| |||||||
Building Products — 0.27% |
| |||||||
8,343 | Apogee Enterprises, Inc. | $ | 112 | |||||
6,593 | Universal Forest Products, Inc. | 257 | ||||||
369 | ||||||||
Casinos & Gaming — 0.21% |
| |||||||
6,480 | WMS Industries, Inc. (a) | 293 | ||||||
Commodity Chemicals — 0.30% |
| |||||||
8,499 | Methanex Corp. | 258 | ||||||
1,335 | NewMarket Corp. | 165 | ||||||
423 | ||||||||
Communications Equipment — 0.35% |
| |||||||
8,234 | Polycom, Inc. (a) | 321 | ||||||
4,774 | Riverbed Technology, Inc. (a) | 168 | ||||||
489 | ||||||||
Computer Storage & Peripherals — 0.21% |
| |||||||
9,708 | Synaptics, Inc. (a) | 285 | ||||||
Construction & Engineering — 0.40% |
| |||||||
9,261 | Insituform Technologies, Inc., Class – A (a) | 245 | ||||||
21,355 | MasTec, Inc. (a) | 312 | ||||||
557 | ||||||||
Construction & Farm Machinery & Heavy |
| |||||||
3,933 | Astec Industries, Inc. (a) | 127 | ||||||
7,447 | Westport Innovations, Inc. (a) | 138 | ||||||
265 | ||||||||
Diversified Chemicals — 0.44% |
| |||||||
7,954 | Cabot Corp. | 299 | ||||||
3,977 | FMC Corp. | 318 | ||||||
617 | ||||||||
Education Services — 0.23% |
| |||||||
5,557 | K12, Inc. (a) | 159 | ||||||
1,087 | Strayer Education, Inc. | 166 | ||||||
325 | ||||||||
Electric Utilities — 0.09% |
| |||||||
1,902 | ITC Holdings Corp. | 118 | ||||||
Electrical Components & Equipment — 0.72% |
| |||||||
6,069 | A.O. Smith Corp. | 231 | ||||||
4,495 | American Superconductor Corp. (a) | 128 | ||||||
8,350 | GrafTech International Ltd. (a) | 166 | ||||||
9,827 | Thomas & Betts Corp. (a) | 475 | ||||||
1,000 | ||||||||
Electronic Components — 0.11% |
| |||||||
3,233 | Littelfuse, Inc. | 152 | ||||||
Shares | Security Description | Value (000) | ||||||
Electronic Equipment & Instruments — 0.51% |
| |||||||
2,195 | Itron, Inc. (a) | $ | 122 | |||||
9,158 | National Instruments Corp. | 345 | ||||||
6,761 | Rofin-Sinar Technologies, Inc. (a) | 239 | ||||||
706 | ||||||||
Electronic Manufacturing Services — 0.36% |
| |||||||
27,391 | Celestica, Inc. (a) | 266 | ||||||
5,839 | Trimble Navigation Ltd. (a) | 233 | ||||||
499 | ||||||||
Environmental & Facilities Services — 0.18% |
| |||||||
10,042 | Tetra Tech, Inc. (a) | 252 | ||||||
Footwear — 0.58% |
| |||||||
7,715 | Deckers Outdoor Corp. (a) | 615 | ||||||
6,177 | Wolverine World Wide, Inc. | 197 | ||||||
812 | ||||||||
Gas Utilities — 0.43% |
| |||||||
6,479 | AGL Resources, Inc. | 232 | ||||||
11,458 | UGI Corp. | 362 | ||||||
594 | ||||||||
General Merchandise Stores — 0.37% |
| |||||||
6,334 | Big Lots, Inc. (a) | 193 | ||||||
23,680 | Fred’s, Inc., Class – A | 326 | ||||||
519 | ||||||||
Health Care Distributors — 0.57% |
| |||||||
3,830 | MWI Veterinary Supply, Inc. (a) | 242 | ||||||
18,643 | Owens & Minor, Inc. | 549 | ||||||
791 | ||||||||
Health Care Equipment — 0.59% |
| |||||||
3,016 | Gen-Probe, Inc. (a) | 176 | ||||||
2,774 | IDEXX Laboratories, Inc. (a) | 192 | ||||||
4,410 | Sirona Dental Systems, Inc. (a) | 184 | ||||||
7,309 | Zoll Medical Corp. (a) | 272 | ||||||
824 | ||||||||
Health Care Facilities — 0.28% |
| |||||||
10,390 | LifePoint Hospitals, Inc. (a) | 382 | ||||||
Health Care Technology — 0.12% |
| |||||||
1,727 | Cerner Corp. (a) | 164 | ||||||
Homebuilding — 0.17% |
| |||||||
17,528 | KB Home | 236 | ||||||
Household Appliances — 0.15% |
| |||||||
3,649 | Snap-on, Inc. | 206 | ||||||
Housewares & Specialties — 0.24% |
| |||||||
7,055 | Tupperware Brands Corp. | 336 | ||||||
Hypermarkets & Super Centers — 0.27% |
| |||||||
7,680 | BJ’s Wholesale Club, Inc. (a) | 368 | ||||||
See accompanying notes to financial statements
46
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
IronBridge Capital Management LP (continued) |
| |||||||
Industrial Machinery — 0.53% |
| |||||||
4,883 | IDEX Corp. | $ | 191 | |||||
4,634 | Kennametal, Inc. | 183 | ||||||
2,822 | Lincoln Electric Holdings, Inc. | 184 | ||||||
1,924 | Valmont Industries, Inc. | 171 | ||||||
729 | ||||||||
Investment Banking & Brokerage — 0.67% |
| |||||||
12,762 | Jefferies Group, Inc. | 340 | ||||||
15,857 | Knight Capital Group, Inc., Class – A (a) | 219 | ||||||
5,918 | Stifel Financial Corp. (a) | 367 | ||||||
926 | ||||||||
IT Consulting & Other Services — 0.11% |
| |||||||
3,170 | Syntel, Inc. | 151 | ||||||
Leisure Products — 0.18% |
| |||||||
10,227 | Callaway Golf Co. | 82 | ||||||
30,785 | Leapfrog Enterprises, Inc. (a) | 171 | ||||||
253 | ||||||||
Life Sciences Tools & Services — 0.53% |
| |||||||
22,903 | Bruker Corp. (a) | 380 | ||||||
1,667 | Dionex Corp. (a) | 197 | ||||||
8,922 | Luminex Corp. (a) | 163 | ||||||
740 | ||||||||
Marine — 0.39% |
| |||||||
13,622 | Alexander & Baldwin, Inc. | 545 | ||||||
Metal & Glass Containers — 0.41% |
| |||||||
12,015 | AptarGroup, Inc. | 572 | ||||||
Mortgage REITs — 0.21% |
| |||||||
19,763 | Redwood Trust, Inc. | 295 | ||||||
Multi-line Insurance — 0.26% |
| |||||||
11,182 | American Financial Group, Inc. | 361 | ||||||
Multi-Sector Holdings — 0.09% |
| |||||||
3,738 | PICO Holdings, Inc. (a) | 119 | ||||||
Multi-Utilities — 0.26% |
| |||||||
12,005 | Black Hills Corp. | 360 | ||||||
Office REITs — 0.38% |
| |||||||
3,622 | Alexandria Real Estate Equities, Inc. | 266 | ||||||
7,675 | Corporate Office Properties | 268 | ||||||
534 | ||||||||
Oil & Gas Drilling — 0.42% |
| |||||||
6,547 | Atwood Oceanics, Inc. (a) | 245 | ||||||
7,315 | Unit Corp. (a) | 340 | ||||||
585 | ||||||||
Shares | Security Description | Value (000) | ||||||
Oil & Gas Equipment & Services — 0.30% |
| |||||||
9,450 | Superior Energy Services, Inc. (a) | $ | 331 | |||||
5,267 | Tesco Corp. (a) | 83 | ||||||
414 | ||||||||
Oil & Gas Exploration & Production — 0.39% |
| |||||||
4,111 | Bill Barrett Corp. (a) | 169 | ||||||
9,588 | Swift Energy Co. (a) | 375 | ||||||
544 | ||||||||
Oil & Gas Refining & Marketing — 0.14% |
| |||||||
5,190 | World Fuel Services Corp. | 188 | ||||||
Oil & Gas Storage & Transportation — 0.22% |
| |||||||
12,436 | Southern Union Co. | 299 | ||||||
Pharmaceuticals — 0.11% |
| |||||||
12,041 | Nektar Therapeutics (a) | 155 | ||||||
Property & Casualty Insurance — 0.75% |
| |||||||
1,853 | Alleghany Corp. (a) | 568 | ||||||
8,367 | Argo Group International Holdings Ltd. | 313 | ||||||
13,860 | Stewart Information Services Corp. | 160 | ||||||
1,041 | ||||||||
Regional Banks — 1.23% |
| |||||||
10,089 | Columbia Banking System, Inc. | 213 | ||||||
8,010 | Cullen/Frost Bankers, Inc. | 490 | ||||||
14,251 | First Midwest Bancorp, Inc. | 164 | ||||||
5,347 | IBERIABANK Corp. | 316 | ||||||
35,538 | National Penn Bancshares, Inc. | 285 | ||||||
15,818 | TCF Financial Corp. | 234 | ||||||
1,702 | ||||||||
Residential REITs — 0.39% |
| |||||||
8,464 | Mid-America Apartment Communities, Inc. | 537 | ||||||
Restaurants — 0.07% |
| |||||||
238 | Biglari Holdings, Inc. (a) | 98 | ||||||
Semiconductors — 1.38% |
| |||||||
18,044 | Cypress Semiconductor Corp. (a) | 335 | ||||||
1,317 | Hittite Microwave Corp. (a) | 80 | ||||||
5,339 | International Rectifier Corp. (a) | 159 | ||||||
10,700 | MIPS Technologies, Inc. (a) | 162 | ||||||
5,010 | OmniVision Technologies, Inc. (a) | 148 | ||||||
12,570 | Semtech Corp. (a) | 285 | ||||||
16,544 | Skyworks Solutions, Inc. (a) | 474 | ||||||
9,689 | Standard Microsystems Corp. (a) | 279 | ||||||
1,922 | ||||||||
Specialized Consumer Services — 0.19% |
| |||||||
4,756 | Coinstar, Inc. (a) | 268 | ||||||
Specialized Finance — 0.16% |
| |||||||
18,445 | Fifth Street Finance Corp. | 224 | ||||||
See accompanying notes to financial statements
47
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
IronBridge Capital Management LP (continued) |
| |||||||
Specialized REITs — 0.15% |
| |||||||
6,529 | Potlatch Corp. | $ | 213 | |||||
Specialty Chemicals — 0.46% |
| |||||||
4,724 | Arch Chemicals, Inc. | 179 | ||||||
2,710 | Lubrizol Corp. | 290 | ||||||
2,550 | Minerals Technologies, Inc. | 167 | ||||||
636 | ||||||||
Specialty Stores — 0.41% |
| |||||||
11,816 | Tractor Supply Co. | 573 | ||||||
Steel — 0.18% |
| |||||||
6,216 | Carpenter Technology Corp. | 250 | ||||||
Systems Software — 0.22% |
| |||||||
7,140 | Progress Software Corp. (a) | 302 | ||||||
Technology Distributors — 0.31% |
| |||||||
8,510 | ScanSource, Inc. (a) | 271 | ||||||
5,280 | SYNNEX Corp. (a) | 165 | ||||||
436 | ||||||||
Thrifts & Mortgage Finance — 0.18% |
| |||||||
16,910 | Provident Financial Services, Inc. | 256 | ||||||
Trading Companies & Distributors — 0.24% |
| |||||||
5,146 | Applied Industrial Technologies, Inc. | 167 | ||||||
4,704 | GATX Corp. | 166 | ||||||
333 | ||||||||
Total IronBridge Capital Management LP | 32,053 | |||||||
Pzena Investment Management, LLC — 16.64% |
| |||||||
Advertising — 0.64% |
| |||||||
69,234 | Harte-Hanks, Inc. | 884 | ||||||
Aerospace & Defense — 0.33% |
| |||||||
13,950 | Curtiss-Wright Corp. | 463 | ||||||
Apparel, Accessories & Luxury Goods — 0.46% |
| |||||||
40,900 | The Jones Group, Inc. | 636 | ||||||
Building Products — 0.38% |
| |||||||
33,864 | Griffon Corp. (a) | 431 | ||||||
7,150 | NCI Building Systems, Inc. (a) | 100 | ||||||
531 | ||||||||
Communications Equipment — 0.39% |
| |||||||
14,400 | Plantronics, Inc. | 536 | ||||||
Computer & Electronics Retail — 0.33% |
| |||||||
14,200 | Rent-A-Center, Inc. | 458 | ||||||
Construction & Engineering — 0.10% |
| |||||||
16,467 | Pike Electric Corp. (a) | 141 | ||||||
Data Processing & Outsourced Services — 0.22% |
| |||||||
19,450 | Heartland Payment Systems, Inc. | 300 | ||||||
Shares | Security Description | Value (000) | ||||||
Diversified Support Services — 0.41% |
| |||||||
22,250 | Viad Corp. | $ | 567 | |||||
Electric Utilities — 0.31% |
| |||||||
19,875 | Portland General Electric Co. | 431 | ||||||
Electrical Components & Equipment — 0.43% |
| |||||||
18,500 | Brady Corp., Class – A | 603 | ||||||
Electronic Equipment & Instruments — 0.51% |
| |||||||
19,100 | MTS Systems Corp. | 716 | ||||||
Health Care Equipment — 0.41% |
| |||||||
21,600 | CONMED Corp. (a) | 571 | ||||||
Health Care Services — 0.37% |
| |||||||
7,700 | MEDNAX, Inc. (a) | 518 | ||||||
Health Care Supplies — 0.40% |
| |||||||
27,900 | Immucor, Inc. (a) | 553 | ||||||
Home Furnishings — 0.42% |
| |||||||
200,550 | Sealy Corp. (a) | 586 | ||||||
Industrial Machinery — 1.24% |
| |||||||
27,400 | Blount International, Inc. (a) | 432 | ||||||
17,325 | CIRCOR International, Inc. | 733 | ||||||
14,100 | Graco, Inc. | 556 | ||||||
1,721 | ||||||||
Insurance Brokers — 0.48% |
| |||||||
23,025 | Arthur J. Gallagher & Co. | 670 | ||||||
Life & Health Insurance — 1.42% |
| |||||||
57,447 | American Equity Investment Life Holding Co. | 721 | ||||||
54,400 | CNO Financial Group, Inc. (a) | 369 | ||||||
22,300 | Delphi Financial Group, Inc., Class – A | 643 | ||||||
10,000 | Primerica, Inc. | 242 | ||||||
1,975 | ||||||||
Multi-Utilities — 0.42% |
| |||||||
44,700 | PNM Resources, Inc. | 582 | ||||||
Office Services & Supplies — 0.19% |
| |||||||
35,682 | American Reprographics Co. (a) | 271 | ||||||
Property & Casualty Insurance — 0.90% |
| |||||||
21,318 | Argo Group International Holdings Ltd. | 799 | ||||||
14,675 | First American Financial Corp. | 219 | ||||||
11,345 | Global Indemnity PLC (a) | 232 | ||||||
1,250 | ||||||||
Publishing — 0.36% |
| |||||||
15,700 | Valassis Communications, Inc. (a) | 508 | ||||||
Real Estate Operating Companies — 0.63% |
| |||||||
32,150 | MI Developments, Inc., Class – A | 871 | ||||||
Regional Banks — 1.61% |
| |||||||
11,579 | Chemical Financial Corp. | 256 | ||||||
66,147 | Nara Bancorp, Inc. (a) | 650 |
See accompanying notes to financial statements
48
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Pzena Investment Management, LLC (continued) |
| |||||||
Regional Banks (continued) |
| |||||||
78,900 | National Penn Bancshares, Inc. | $ | 634 | |||||
35,150 | Webster Financial Corp. | 692 | ||||||
2,232 | ||||||||
Semiconductors — 0.75% |
| |||||||
16,975 | Diodes, Inc. (a) | 458 | ||||||
65,741 | Zoran Corp. (a) | 579 | ||||||
1,037 | ||||||||
Specialized Finance — 0.48% |
| |||||||
28,700 | PHH Corp. (a) | 664 | ||||||
Specialized REITs — 0.51% |
| |||||||
59,300 | DiamondRock Hospitality Co. (a) | 712 | ||||||
Technology Distributors — 0.62% |
| |||||||
27,876 | Insight Enterprises, Inc. (a) | 367 | ||||||
11,300 | Tech Data Corp. (a) | 497 | ||||||
864 | ||||||||
Thrifts & Mortgage Finance — 0.39% |
| |||||||
11,475 | WSFS Financial Corp. | 544 | ||||||
Trucking — 0.53% |
| |||||||
20,050 | Con-way, Inc. | 733 | ||||||
Total Pzena Investment Management, LLC | 23,128 | |||||||
SSgA Funds Management, Inc. — 36.89% |
| |||||||
Advertising — 0.08% |
| |||||||
1,100 | Arbitron, Inc. | 46 | ||||||
1,600 | Harte-Hanks, Inc. | 20 | ||||||
2,200 | National CineMedia, Inc. | 44 | ||||||
200 | ReachLocal, Inc. (a) | 4 | ||||||
114 | ||||||||
Aerospace & Defense — 0.67% |
| |||||||
1,636 | AAR Corp. (a) | 45 | ||||||
700 | Aerovironment, Inc. (a) | 19 | ||||||
400 | American Science & Engineering, Inc. | 34 | ||||||
3,200 | Applied Energetics, Inc. (a) | 3 | ||||||
552 | Applied Signal Technology, Inc. | 21 | ||||||
481 | Astronics Corp. (a) | 10 | ||||||
1,152 | Ceradyne, Inc. (a) | 36 | ||||||
680 | Cubic Corp. | 32 | ||||||
2,041 | Curtiss-Wright Corp. | 68 | ||||||
1,150 | DigitalGlobe, Inc. (a) | 37 | ||||||
531 | Ducommun, Inc. | 12 | ||||||
1,375 | Esterline Technologies Corp. (a) | 94 | ||||||
2,800 | GenCorp, Inc. (a) | 15 | ||||||
100 | Global Defense Technology & Systems, Inc. (a) | 2 | ||||||
1,200 | HEICO Corp. | 61 |
Shares | Security Description | Value (000) | ||||||
Aerospace & Defense (continued) |
| |||||||
467 | Herley Industries, Inc. (a) | $ | 8 | |||||
4,200 | Hexcel Corp. (a) | 76 | ||||||
800 | Kratos Defense & Security Solutions, Inc. (a) | 11 | ||||||
661 | Ladish Co., Inc. (a) | 32 | ||||||
242 | LMI Aerospace, Inc. (a) | 4 | ||||||
2,093 | Moog, Inc., Class – A (a) | 83 | ||||||
200 | National Presto Industries, Inc. | 26 | ||||||
2,700 | Orbital Sciences Corp. (a) | 46 | ||||||
2,600 | TASER International, Inc. (a) | 12 | ||||||
1,600 | Teledyne Technologies, Inc. (a) | 70 | ||||||
300 | The Keyw Holding Corp. (a) | 4 | ||||||
764 | Triumph Group, Inc. | 68 | ||||||
929 | ||||||||
Agricultural Products — 0.08% |
| |||||||
141 | Alico, Inc. | 4 | ||||||
3,700 | Darling International, Inc. (a) | 49 | ||||||
1,816 | Fresh Del Monte Produce, Inc. | 45 | ||||||
156 | Griffin Land & Nurseries, Inc. | 5 | ||||||
300 | Limoneira Co. | 9 | ||||||
112 | ||||||||
Air Freight & Logistics — 0.14% |
| |||||||
2,747 | Air Transport Services Group, Inc. (a) | 22 | ||||||
1,149 | Atlas Air Worldwide Holdings, Inc. (a) | 64 | ||||||
360 | Dynamex, Inc. (a) | 9 | ||||||
1,200 | Forward Air Corp. | 34 | ||||||
1,500 | Hub Group, Inc., Class – A (a) | 53 | ||||||
1,500 | Pacer International, Inc. (a) | 10 | ||||||
300 | Park-Ohio Holdings Corp. (a) | 6 | ||||||
198 | ||||||||
Airlines — 0.28% |
| |||||||
6,066 | AirTran Holdings, Inc. (a) | 45 | ||||||
1,663 | Alaska Air Group, Inc. (a) | 94 | ||||||
600 | Allegiant Travel Co. | 29 | ||||||
2,500 | Hawaiian Holdings, Inc. (a) | 20 | ||||||
10,750 | JetBlue Airways Corp. (a) | 71 | ||||||
1,000 | Pinnacle Airlines Corp. (a) | 8 | ||||||
1,791 | Republic Airways Holdings, Inc. (a) | 13 | ||||||
2,480 | SkyWest, Inc. | 39 | ||||||
7,481 | US Airways Group, Inc. (a) | 75 | ||||||
394 | ||||||||
Alternative Carriers — 0.11% |
| |||||||
949 | AboveNet, Inc. | 56 | ||||||
1,442 | Global Crossing Ltd. (a) | 19 | ||||||
3,800 | Globalstar, Inc. (a) | 6 | ||||||
1,700 | Iridium Communications, Inc. (a) | 14 | ||||||
5,700 | PAETEC Holding Corp. (a) | 21 | ||||||
3,009 | Premiere Global Services, Inc. (a) | 20 | ||||||
5,100 | Vonage Holdings Corp. (a) | 11 | ||||||
147 | ||||||||
See accompanying notes to financial statements
49
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Aluminum — 0.06% |
| |||||||
2,791 | Century Aluminum Co. (a) | $ | 43 | |||||
731 | Kaiser Aluminum Corp. | 37 | ||||||
500 | Noranda Aluminum Holding Corp. (a) | 7 | ||||||
87 | ||||||||
Apparel Retail — 0.64% |
| |||||||
2,400 | AnnTaylor Stores Corp. (a) | 66 | ||||||
1,700 | bebe Stores, Inc. | 10 | ||||||
1,914 | Brown Shoe Co., Inc. | 27 | ||||||
1,500 | Casual Male Retail Group, Inc. (a) | 7 | ||||||
5,266 | Charming Shoppes, Inc. (a) | 19 | ||||||
1,429 | Christopher & Banks Corp. | 9 | ||||||
600 | Citi Trends, Inc. (a) | 15 | ||||||
2,500 | Coldwater Creek, Inc. (a) | 8 | ||||||
2,814 | Collective Brands, Inc. (a) | 59 | ||||||
200 | Destination Maternity Corp. (a) | 8 | ||||||
600 | DSW, Inc., Class – A (a) | 23 | ||||||
700 | Express, Inc. | 13 | ||||||
1,036 | Genesco, Inc. (a) | 39 | ||||||
1,815 | Hot Topic, Inc. | 11 | ||||||
1,100 | Jos. A. Bank Clothiers, Inc. (a) | 44 | ||||||
1,451 | New York & Co., Inc. (a) | 6 | ||||||
2,836 | Pacific Sunwear of California, Inc. (a) | 15 | ||||||
600 | Rue21, Inc. (a) | 18 | ||||||
360 | Shoe Carnival, Inc. (a) | 10 | ||||||
1,815 | Stage Stores, Inc. | 31 | ||||||
1,382 | Stein Mart, Inc. | 13 | ||||||
1,122 | The Buckle, Inc. | 42 | ||||||
1,200 | The Cato Corp., Class – A | 33 | ||||||
1,050 | The Children’s Place Retail Stores, Inc. (a) | 52 | ||||||
2,509 | The Dress Barn, Inc. (a) | 66 | ||||||
2,369 | The Finish Line, Inc., Class – A | 41 | ||||||
2,390 | The Men’s Wearhouse, Inc. | 60 | ||||||
3,026 | The Talbots, Inc. (a) | 26 | ||||||
1,400 | Under Armour, Inc., Class – A (a) | 77 | ||||||
4,600 | Wet Seal, Inc., Class – A (a) | 17 | ||||||
900 | Zumiez, Inc. (a) | 24 | ||||||
889 | ||||||||
Apparel, Accessories & Luxury Goods — 0.37% |
| |||||||
2,500 | Carter’s, Inc. (a) | 74 | ||||||
300 | Cherokee, Inc. | 6 | ||||||
551 | Columbia Sportswear Co. | 33 | ||||||
300 | Delta Apparel, Inc. (a) | 4 | ||||||
600 | G-III Apparel Group Ltd. (a) | 21 | ||||||
1,800 | Joe’s Jeans, Inc. (a) | 3 | ||||||
344 | Kenneth Cole Productions, Inc., Class – A (a) | 4 | ||||||
3,900 | Liz Claiborne, Inc. (a) | 28 | ||||||
1,000 | Maidenform Brands, Inc. (a) | 24 | ||||||
779 | Movado Group, Inc. (a) | 13 |
Shares | Security Description | Value (000) | ||||||
Apparel, Accessories & Luxury Goods (continued) |
| |||||||
500 | Oxford Industries, Inc. | $ | 13 | |||||
427 | Perry Ellis International, Inc. (a) | 12 | ||||||
5,799 | Quiksilver, Inc. (a) | 29 | ||||||
3,866 | The Jones Group, Inc. | 60 | ||||||
1,800 | The Warnaco Group, Inc. (a) | 99 | ||||||
1,100 | True Religion Apparel, Inc. (a) | 24 | ||||||
660 | UniFirst Corp. | 36 | ||||||
540 | Vera Bradley, Inc. (a) | 18 | ||||||
800 | Volcom, Inc. | 15 | ||||||
516 | ||||||||
Application Software — 1.19% |
| |||||||
1,400 | ACI Worldwide, Inc. (a) | 38 | ||||||
600 | Advent Software, Inc. (a) | 35 | ||||||
900 | American Software, Inc., Class – A | 6 | ||||||
2,600 | Aspen Technology, Inc. (a) | 33 | ||||||
1,900 | Blackbaud, Inc. | 49 | ||||||
1,400 | Blackboard, Inc. (a) | 58 | ||||||
1,300 | Bottomline Technologies, Inc. (a) | 28 | ||||||
200 | BroadSoft, Inc. (a) | 5 | ||||||
1,700 | Concur Technologies, Inc. (a) | 88 | ||||||
200 | Convio, Inc. (a) | 2 | ||||||
841 | Deltek, Inc. (a) | 6 | ||||||
300 | Digimarc Corp. (a) | 9 | ||||||
1,100 | Ebix, Inc. (a) | 26 | ||||||
2,272 | Epicor Software Corp. (a) | 23 | ||||||
1,600 | EPIQ Systems, Inc. | 22 | ||||||
202 | ePlus, Inc. (a) | 5 | ||||||
1,870 | Fair Isaac Corp. | 44 | ||||||
600 | Guidance Software, Inc. (a) | 4 | ||||||
500 | Interactive Intelligence, Inc. (a) | 13 | ||||||
3,500 | Jack Henry & Associates, Inc. | 102 | ||||||
1,836 | JDA Software Group, Inc. (a) | 51 | ||||||
900 | Kenexa Corp. (a) | 20 | ||||||
5,800 | Lawson Software, Inc. (a) | 54 | ||||||
2,500 | Magma Design Automation, Inc. (a) | 13 | ||||||
900 | Manhattan Associates, Inc. (a) | 27 | ||||||
4,857 | Mentor Graphics Corp. (a) | 58 | ||||||
300 | MicroStrategy, Inc., Class – A (a) | 26 | ||||||
900 | Monotype Imaging Holdings, Inc. (a) | 10 | ||||||
200 | Motricity, Inc. (a) | 4 | ||||||
1,300 | NetScout Systems, Inc. (a) | 30 | ||||||
4,800 | Parametric Technology Corp. (a) | 108 | ||||||
700 | Pegasystems, Inc. | 26 | ||||||
800 | PROS Holdings, Inc. (a) | 9 | ||||||
200 | QAD, Inc., Class – A (a) | 2 | ||||||
2,575 | Quest Software, Inc. (a) | 71 | ||||||
1,400 | Radiant Systems, Inc. (a) | 27 | ||||||
600 | RealD, Inc. (a) | 16 | ||||||
1,100 | Smith Micro Software, Inc. (a) | 17 | ||||||
1,500 | SolarWinds, Inc. (a) | 29 | ||||||
1,751 | Sonic Solutions (a) | 26 |
See accompanying notes to financial statements
50
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Application Software (continued) |
| |||||||
500 | SS&C Technologies Holdings, Inc. (a) | $ | 10 | |||||
2,563 | SuccessFactors, Inc. (a) | 74 | ||||||
1,000 | Synchronoss Technologies, Inc. (a) | 27 | ||||||
1,600 | Taleo Corp., Class – A (a) | 44 | ||||||
300 | TeleNav, Inc. (a) | 2 | ||||||
1,000 | The Ultimate Software Group, Inc. (a) | 49 | ||||||
6,900 | TIBCO Software, Inc. (a) | 136 | ||||||
4,800 | TiVo, Inc. (a) | 41 | ||||||
1,200 | Tyler Technologies, Inc. (a) | 25 | ||||||
1,500 | VirnetX Holding Corp. | 22 | ||||||
1,650 | ||||||||
Asset Management & Custody Banks — 0.45% |
| |||||||
15,666 | American Capital Ltd. (a) | 118 | ||||||
8,950 | Apollo Investment Corp. | 99 | ||||||
400 | Arlington Asset Investment Corp., | 10 | ||||||
1,202 | Artio Global Investors, Inc. | 18 | ||||||
2,924 | BlackRock Kelso Capital Corp. | 32 | ||||||
909 | Calamos Asset Management, Inc., | 13 | ||||||
122 | Capital Southwest Corp. | 13 | ||||||
751 | Cohen & Steers, Inc. | 20 | ||||||
100 | Diamond Hill Investment Group, Inc. | 7 | ||||||
580 | Epoch Holding Corp. | 9 | ||||||
500 | Financial Engines, Inc. (a) | 10 | ||||||
361 | GAMCO Investors, Inc., Class – A | 17 | ||||||
906 | Gladstone Capital Corp. | 10 | ||||||
1,242 | Gladstone Investment Corp. | 9 | ||||||
408 | Golub Capital BDC LLC | 7 | ||||||
1,504 | Harris & Harris Group, Inc. (a) | 7 | ||||||
1,561 | Hercules Technology Growth Capital, Inc. | 16 | ||||||
693 | Main Street Capital Corp. | 13 | ||||||
3,866 | MCG Capital Corp. | 27 | ||||||
1,211 | MVC Capital, Inc. | 18 | ||||||
1,227 | NGP Capital Resources Co. | 11 | ||||||
1,678 | PennantPark Investment Corp. | 21 | ||||||
1,105 | Penson Worldwide, Inc. (a) | 5 | ||||||
3,471 | Prospect Capital Corp. | 37 | ||||||
300 | Pzena Investment Management, Inc., | 2 | ||||||
1,026 | Safeguard Scientifics, Inc. (a) | 17 | ||||||
211 | Solar Capital Ltd. | 5 | ||||||
1,478 | TICC Capital Corp. | 17 | ||||||
622 | Triangle Capital Corp. | 12 | ||||||
221 | Virtus Investment Partners, Inc. (a) | 10 | ||||||
241 | Westwood Holdings Group, Inc. | 10 | ||||||
620 | ||||||||
Shares | Security Description | Value (000) | ||||||
Auto Parts & Equipment — 0.36% |
| |||||||
2,500 | American Axle & Manufacturing Holdings, Inc. (a) | $ | 32 | |||||
900 | Amerigon, Inc. (a) | 10 | ||||||
3,900 | ArvinMeritor, Inc. (a) | 80 | ||||||
5,912 | Dana Holding Corp. (a) | 102 | ||||||
500 | Dorman Products, Inc. (a) | 18 | ||||||
904 | Drew Industries, Inc. | 21 | ||||||
3,695 | Exide Technologies (a) | 35 | ||||||
600 | Fuel Systems Solutions, Inc. (a) | 18 | ||||||
2,286 | Modine Manufacturing Co. (a) | 35 | ||||||
100 | Shiloh Industries, Inc. | 1 | ||||||
1,637 | Spartan Motors, Inc. | 10 | ||||||
611 | Standard Motor Products, Inc. | 8 | ||||||
600 | Stoneridge, Inc. (a) | 9 | ||||||
967 | Superior Industries International, Inc. | 20 | ||||||
2,500 | Tenneco, Inc. (a) | 103 | ||||||
200 | Tower International, Inc. (a) | 4 | ||||||
506 | ||||||||
Automobile Manufacturers — 0.01% |
| |||||||
1,200 | Winnebago Industries, Inc. (a) | 18 | ||||||
Automotive Retail — 0.17% |
| |||||||
442 | America’s Car-Mart, Inc. (a) | 12 | ||||||
1,200 | Asbury Automotive Group, Inc. (a) | 22 | ||||||
1,026 | Group 1 Automotive, Inc. | 43 | ||||||
1,173 | Lithia Motors, Inc., Class – A | 17 | ||||||
600 | Midas, Inc. (a) | 5 | ||||||
1,200 | Monro Muffler Brake, Inc. | 41 | ||||||
2,100 | Penske Automotive Group, Inc. (a) | 37 | ||||||
2,039 | Sonic Automotive, Inc., Class – A | 27 | ||||||
2,349 | The Pep Boys – Manny, Moe & Jack | 31 | ||||||
235 | ||||||||
Biotechnology — 1.15% |
| |||||||
1,600 | Acorda Therapeutics, Inc. (a) | 44 | ||||||
900 | Affymax, Inc. (a) | 6 | ||||||
4,056 | Alkermes, Inc. (a) | 50 | ||||||
3,300 | Allos Therapeutics, Inc. (a) | 15 | ||||||
1,500 | Alnylam Pharmaceuticals, Inc. (a) | 15 | ||||||
900 | AMAG Pharmaceuticals, Inc. (a) | 16 | ||||||
200 | Anthera Pharmaceuticals, Inc. (a) | 1 | ||||||
4,700 | Arena Pharmaceuticals, Inc. (a) | 8 | ||||||
5,200 | ARIAD Pharmaceuticals, Inc. (a) | 27 | ||||||
1,700 | ArQule, Inc. (a) | 10 | ||||||
2,200 | Array BioPharma, Inc. (a) | 7 | ||||||
1,500 | AspenBio Pharma, Inc. (a) | 1 | ||||||
400 | Aveo Phamaceuticals, Inc. (a) | 6 | ||||||
4,600 | AVI BioPharma, Inc. (a) | 10 | ||||||
1,200 | BioCryst Pharmaceuticals, Inc. (a) | 6 | ||||||
2,900 | BioSante Pharmaceuticals, Inc. (a) | 5 | ||||||
200 | BioSpecifics Technologies Corp. (a) | 5 | ||||||
900 | BioTime, Inc. (a) | 8 |
See accompanying notes to financial statements
51
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Biotechnology (continued) |
| |||||||
3,461 | Celera Corp. (a) | $ | 22 | |||||
1,300 | Celldex Therapeutics, Inc. (a) | 5 | ||||||
2,500 | Cepheid, Inc. (a) | 57 | ||||||
1,600 | Chelsea Therapeutics International Ltd. (a) | 12 | ||||||
500 | Clinical Data, Inc. (a) | 8 | ||||||
570 | Codexis, Inc. (a) | 6 | ||||||
2,400 | Cubist Pharmaceuticals, Inc. (a) | 51 | ||||||
3,100 | Curis, Inc. (a) | 6 | ||||||
1,800 | Cytokinetics, Inc. (a) | 4 | ||||||
1,900 | Cytori Therapeutics, Inc. (a) | 10 | ||||||
4,500 | CytRx Corp. (a) | 5 | ||||||
4,100 | Dyax Corp. (a) | 9 | ||||||
3,900 | Dynavax Technologies Corp. (a) | 12 | ||||||
800 | Emergent BioSolutions, Inc. (a) | 19 | ||||||
1,690 | Enzo Biochem, Inc. (a) | 9 | ||||||
2,300 | Enzon Pharmaceuticals, Inc. (a) | 28 | ||||||
1,900 | Exact Sciences Corp. (a) | 11 | ||||||
600 | Genomic Health, Inc. (a) | 13 | ||||||
5,100 | Geron Corp. (a) | 26 | ||||||
3,000 | Halozyme Therapeutics, Inc. (a) | 24 | ||||||
1,500 | Idenix Pharmaceuticals, Inc. (a) | 8 | ||||||
2,800 | ImmunoGen, Inc. (a) | 26 | ||||||
2,700 | Immunomedics, Inc. (a) | 10 | ||||||
3,700 | Incyte Corp. (a) | 61 | ||||||
964 | Infinity Pharmaceuticals, Inc. (a) | 6 | ||||||
2,000 | Inhibitex, Inc. (a) | 5 | ||||||
1,900 | InterMune, Inc. (a) | 69 | ||||||
800 | Ironwood Pharmaceuticals, Inc. (a) | 8 | ||||||
3,900 | Isis Pharmaceuticals, Inc. (a) | 39 | ||||||
2,100 | Keryx Biopharmaceuticals, Inc. (a) | 10 | ||||||
9,627 | Lexicon Pharmaceuticals, Inc. (a) | 14 | ||||||
816 | Ligand Pharmaceuticals, Inc., Class – B (a) | 7 | ||||||
2,800 | MannKind Corp. (a) | 23 | ||||||
1,438 | Martek Biosciences Corp. (a) | 45 | ||||||
1,443 | Maxygen, Inc. | 6 | ||||||
1,400 | Medivation, Inc. (a) | 21 | ||||||
1,100 | Metabolix, Inc. (a) | 13 | ||||||
3,800 | Micromet, Inc. (a) | 31 | ||||||
1,700 | Momenta Pharmaceuticals, Inc. (a) | 25 | ||||||
1,900 | Nabi Biopharmaceuticals (a) | 11 | ||||||
700 | Nanosphere, Inc. (a) | 3 | ||||||
1,900 | Neuralstem, Inc. (a) | 4 | ||||||
2,000 | Neurocrine Biosciences, Inc. (a) | 15 | ||||||
500 | NeurogesX, Inc. (a) | 3 | ||||||
3,800 | Novavax, Inc. (a) | 9 | ||||||
2,800 | NPS Pharmaceuticals, Inc. (a) | 22 | ||||||
700 | Nymox Pharmaceutical Corp. (a) | 5 | ||||||
800 | Omeros Corp. (a) | 7 | ||||||
2,600 | Onyx Pharmaceuticals, Inc. (a) | 96 | ||||||
3,700 | Opko Health, Inc. (a) | 14 |
Shares | Security Description | Value (000) | ||||||
Biotechnology (continued) |
| |||||||
1,300 | Orexigen Therapeutics, Inc. (a) | $ | 11 | |||||
700 | Osiris Therapeutics, Inc. (a) | 5 | ||||||
5,800 | PDL BioPharma, Inc. | 36 | ||||||
2,300 | Peregrine Pharmaceuticals, Inc. (a) | 5 | ||||||
1,800 | Pharmacyclics, Inc. (a) | 11 | ||||||
1,200 | Pharmasset, Inc. (a) | 52 | ||||||
1,164 | Progenics Pharmaceuticals, Inc. (a) | 6 | ||||||
2,200 | Rigel Pharmaceuticals, Inc. (a) | 17 | ||||||
1,900 | Sangamo BioSciences, Inc. (a) | 13 | ||||||
2,800 | Savient Pharmaceuticals, Inc. (a) | 31 | ||||||
1,600 | SciClone Pharmaceuticals, Inc. (a) | 7 | ||||||
3,500 | Seattle Genetics, Inc. (a) | 52 | ||||||
1,300 | SIGA Technologies, Inc. (a) | 18 | ||||||
2,100 | Spectrum Pharmaceuticals, Inc. (a) | 14 | ||||||
5,000 | StemCells, Inc. (a) | 5 | ||||||
900 | Synta Pharmaceuticals Corp. (a) | 6 | ||||||
1,000 | Targacept, Inc. (a) | 27 | ||||||
2,600 | Theravance, Inc. (a) | 65 | ||||||
200 | Transcept Pharmaceuticals, Inc. (a) | 1 | ||||||
1,200 | Vanda Pharmaceuticals, Inc. (a) | 11 | ||||||
3,000 | Vical, Inc. (a) | 6 | ||||||
2,700 | Zalicus, Inc. (a) | 4 | ||||||
2,000 | ZIOPHARM Oncology, Inc. (a) | 9 | ||||||
1,605 | ||||||||
Brewers — 0.02% |
| |||||||
363 | The Boston Beer Co., Inc., Class – A (a) | 35 | ||||||
Broadcasting — 0.06% |
| |||||||
3,800 | Belo Corp., Class – A (a) | 27 | ||||||
403 | Crown Media Holdings, Inc., Class – A (a) | 1 | ||||||
800 | Entercom Communications Corp., Class – A (a) | 9 | ||||||
2,000 | Entravision Communications Corp., Class – A (a) | 5 | ||||||
324 | Fisher Communications, Inc. (a) | 7 | ||||||
2,600 | Gray Television, Inc. (a) | 5 | ||||||
1,032 | LIN TV Corp., Class – A (a) | 5 | ||||||
1,800 | Radio One, Inc., Class – D (a) | 2 | ||||||
1,780 | Sinclair Broadcast Group, Inc., Class – A | 15 | ||||||
200 | Westwood One, Inc. (a) | 2 | ||||||
78 | ||||||||
Building Products — 0.20% |
| |||||||
500 | AAON, Inc. | 14 | ||||||
200 | Ameresco, Inc., Class – A (a) | 3 | ||||||
227 | American Woodmark Corp. | 6 | ||||||
440 | Ameron International Corp. | 34 | ||||||
1,223 | Apogee Enterprises, Inc. | 16 | ||||||
730 | Builders FirstSource, Inc. (a) | 1 | ||||||
1,258 | Gibraltar Industries, Inc. (a) | 17 | ||||||
1,963 | Griffon Corp. (a) | 25 | ||||||
894 | Insteel Industries, Inc. | 11 |
See accompanying notes to financial statements
52
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Building Products (continued) |
| |||||||
800 | NCI Building Systems, Inc. (a) | $ | 11 | |||||
1,742 | Quanex Building Products Corp. | 33 | ||||||
1,609 | Simpson Manufacturing Co., Inc. | 50 | ||||||
600 | Trex Co., Inc. (a) | 14 | ||||||
914 | Universal Forest Products, Inc. | 36 | ||||||
271 | ||||||||
Cable & Satellite — 0.03% |
| |||||||
1,346 | Knology, Inc. (a) | 21 | ||||||
1,996 | Mediacom Communications Corp., Class – A (a) | 17 | ||||||
730 | Outdoor Channel Holdings, Inc. | 5 | ||||||
43 | ||||||||
Casinos & Gaming — 0.13% |
| |||||||
1,100 | Ameristar Casinos, Inc. | 17 | ||||||
2,700 | Boyd Gaming Corp. (a) | 29 | ||||||
487 | Churchill Downs, Inc. | 21 | ||||||
1,100 | Empire Resorts, Inc. (a) | 1 | ||||||
800 | Isle of Capri Casinos, Inc. (a) | 8 | ||||||
222 | Monarch Casino & Resort, Inc. (a) | 3 | ||||||
1,132 | Multimedia Games, Inc. (a) | 6 | ||||||
2,609 | Pinnacle Entertainment, Inc. (a) | 37 | ||||||
3,000 | Scientific Games Corp., Class – A (a) | 30 | ||||||
2,200 | Shuffle Master, Inc. (a) | 25 | ||||||
177 | ||||||||
Catalog Retail — 0.04% |
| |||||||
930 | Gaiam, Inc., Class – A | 7 | ||||||
1,600 | HSN, Inc. (a) | 49 | ||||||
56 | ||||||||
Coal & Consumable Fuels — 0.14% |
| |||||||
100 | Amyris, Inc. (a) | 3 | ||||||
100 | Hallador Energy Co. | 1 | ||||||
5,708 | International Coal Group, Inc. (a) | 44 | ||||||
1,200 | James River Coal Co. (a) | 30 | ||||||
700 | L&L Energy, Inc. (a) | 8 | ||||||
3,456 | Patriot Coal Corp. (a) | 67 | ||||||
2,500 | Uranium Energy Corp. (a) | 15 | ||||||
5,226 | USEC, Inc. (a) | 31 | ||||||
199 | ||||||||
Commercial Printing — 0.10% |
| |||||||
2,300 | Cenveo, Inc. (a) | 12 | ||||||
400 | Consolidated Graphics, Inc. (a) | 19 | ||||||
565 | Courier Corp. | 9 | ||||||
2,157 | Deluxe Corp. | 50 | ||||||
1,059 | Ennis, Inc. | 18 | ||||||
1,000 | InnerWorkings, Inc. (a) | 7 | ||||||
533 | M & F Worldwide Corp. (a) | 12 |
Shares | Security Description | Value (000) | ||||||
Commercial Printing (continued) |
| |||||||
541 | Multi-Color Corp. | $ | 11 | |||||
700 | The Standard Register Co. | 2 | ||||||
140 | ||||||||
Commodity Chemicals — 0.20% |
| |||||||
2,300 | Calgon Carbon Corp. (a) | 35 | ||||||
1,400 | Georgia Gulf Corp. (a) | 34 | ||||||
341 | Hawkins, Inc. | 15 | ||||||
897 | Innophos Holdings, Inc. | 32 | ||||||
800 | Koppers Holdings, Inc. | 29 | ||||||
435 | NewMarket Corp. | 54 | ||||||
141 | NL Industries, Inc. | 2 | ||||||
1,425 | Spartech Corp. (a) | 13 | ||||||
1,200 | STR Holdings, Inc. (a) | 24 | ||||||
200 | TPC Group, Inc. (a) | 6 | ||||||
954 | Westlake Chemical Corp. | 41 | ||||||
285 | ||||||||
Communications Equipment — 1.12% |
| |||||||
1,800 | Acme Packet, Inc. (a) | 96 | ||||||
2,600 | ADTRAN, Inc. | 94 | ||||||
780 | Anaren, Inc. (a) | 16 | ||||||
5,443 | Arris Group, Inc. (a) | 61 | ||||||
3,200 | Aruba Networks, Inc. (a) | 67 | ||||||
2,499 | Aviat Networks, Inc. (a) | 13 | ||||||
530 | Bel Fuse, Inc., Class – B | 13 | ||||||
2,500 | BigBand Networks, Inc. (a) | 7 | ||||||
837 | Black Box Corp. | 32 | ||||||
1,750 | Blue Coat Systems, Inc. (a) | 52 | ||||||
300 | Calix, Inc. (a) | 5 | ||||||
1,300 | Comtech Telecommunications Corp. | 36 | ||||||
1,000 | DG FastChannel, Inc. (a) | 29 | ||||||
975 | Digi International, Inc. (a) | 11 | ||||||
762 | EMS Technologies, Inc. (a) | 15 | ||||||
3,964 | Emulex Corp. (a) | 46 | ||||||
4,163 | Extreme Networks, Inc. (a) | 13 | ||||||
3,150 | Finisar Corp. (a) | 94 | ||||||
1,046 | Globecomm Systems, Inc. (a) | 10 | ||||||
4,594 | Harmonic, Inc. (a) | 39 | ||||||
400 | Hughes Communications, Inc. (a) | 16 | ||||||
3,400 | Infinera Corp. (a) | 35 | ||||||
1,800 | InterDigital, Inc. (a) | 75 | ||||||
1,400 | Ixia (a) | 24 | ||||||
600 | KVH Industries, Inc. (a) | 7 | ||||||
400 | Loral Space & Communications, Inc. (a) | 31 | ||||||
200 | Meru Networks, Inc. (a) | 3 | ||||||
1,500 | NETGEAR, Inc. (a) | 51 | ||||||
1,500 | Network Engines, Inc. (a) | 2 | ||||||
1,300 | Network Equipment Technologies, Inc. (a) | 6 | ||||||
1,400 | Neutral Tandem, Inc. (a) | 20 | ||||||
500 | Occam Networks, Inc. (a) | 4 | ||||||
2,050 | Oclaro, Inc. (a) | 27 |
See accompanying notes to financial statements
53
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Communications Equipment (continued) |
| |||||||
924 | Oplink Communications, Inc. (a) | $ | 17 | |||||
1,338 | Opnext, Inc. (a) | 2 | ||||||
938 | PC-Tel, Inc. (a) | 6 | ||||||
2,000 | Plantronics, Inc. | 74 | ||||||
6,704 | Powerwave Technologies, Inc. (a) | 17 | ||||||
5,214 | Riverbed Technology, Inc. (a) | 183 | ||||||
1,389 | SeaChange International, Inc. (a) | 12 | ||||||
1,900 | ShoreTel, Inc. (a) | 15 | ||||||
9,103 | Sonus Networks, Inc. (a) | 24 | ||||||
830 | Sycamore Networks, Inc. | 17 | ||||||
2,229 | Symmetricom, Inc. (a) | 16 | ||||||
3,321 | Tekelec (a) | 40 | ||||||
4,928 | UTStarcom, Inc. (a) | 10 | ||||||
1,500 | ViaSat, Inc. (a) | 67 | ||||||
1,550 | ||||||||
Computer & Electronics Retail — 0.09% |
| |||||||
600 | FalconStor Software, Inc. (a) | 2 | ||||||
500 | hhgregg, Inc. (a) | 11 | ||||||
3,076 | Rent-A-Center, Inc. | 99 | ||||||
403 | REX American Resources Corp. (a) | 6 | ||||||
506 | Systemax, Inc. (a) | 7 | ||||||
125 | ||||||||
Computer Hardware — 0.06% |
| |||||||
1,151 | Avid Technology, Inc. (a) | 20 | ||||||
1,163 | Cray, Inc. (a) | 8 | ||||||
1,387 | Silicon Graphics International Corp. (a) | 13 | ||||||
800 | Stratasys, Inc. (a) | 26 | ||||||
1,000 | Super Micro Computer, Inc. (a) | 12 | ||||||
79 | ||||||||
Computer Storage & Peripherals — 0.21% |
| |||||||
1,000 | Compellent Technologies, Inc. (a) | 28 | ||||||
2,178 | Electronics for Imaging, Inc. (a) | 31 | ||||||
1,300 | Hutchinson Technology, Inc. (a) | 5 | ||||||
1,900 | Hypercom Corp. (a) | 16 | ||||||
1,479 | Imation Corp. (a) | 15 | ||||||
1,200 | Immersion Corp. (a) | 8 | ||||||
2,200 | Intermec, Inc. (a) | 28 | ||||||
879 | Intevac, Inc. (a) | 12 | ||||||
1,600 | Novatel Wireless, Inc. (a) | 15 | ||||||
1,100 | Presstek, Inc. (a) | 3 | ||||||
8,100 | Quantum Corp. (a) | 30 | ||||||
340 | Rimage Corp. (a) | 5 | ||||||
1,700 | STEC, Inc. (a) | 30 | ||||||
1,400 | Synaptics, Inc. (a) | 41 | ||||||
1,300 | Xyratex Ltd. (a) | 21 | ||||||
288 | ||||||||
Shares | Security Description | Value (000) | ||||||
Construction & Engineering — 0.28% |
| |||||||
1,455 | Dycom Industries, Inc. (a) | $ | 21 | |||||
3,066 | EMCOR Group, Inc. (a) | 89 | ||||||
1,400 | Furmanite Corp. (a) | 10 | ||||||
1,536 | Granite Construction, Inc. | 42 | ||||||
2,861 | Great Lakes Dredge & Dock Co. | 21 | ||||||
1,746 | Insituform Technologies, Inc., Class – A (a) | 46 | ||||||
816 | Layne Christensen Co. (a) | 28 | ||||||
2,239 | MasTec, Inc. (a) | 33 | ||||||
276 | Michael Baker Corp. (a) | 9 | ||||||
1,000 | MYR Group, Inc. (a) | 21 | ||||||
452 | Northwest Pipe Co. (a) | 11 | ||||||
1,100 | Orion Marine Group, Inc. (a) | 13 | ||||||
524 | Pike Electric Corp. (a) | 5 | ||||||
1,100 | Primoris Services Corp. | 10 | ||||||
644 | Sterling Construction Co., Inc. (a) | 8 | ||||||
1,151 | Tutor Perini Corp. | 25 | ||||||
392 | ||||||||
Construction & Farm Machinery & Heavy |
| |||||||
367 | Alamo Group, Inc. | 10 | ||||||
518 | American Railcar Industries, Inc. (a) | 11 | ||||||
877 | Astec Industries, Inc. (a) | 28 | ||||||
372 | Cascade Corp. | 18 | ||||||
1,200 | Commercial Vehicle Group, Inc. (a) | 20 | ||||||
600 | Douglas Dynamics, Inc. | 9 | ||||||
2,758 | Federal Signal Corp. | 19 | ||||||
485 | FreightCar America, Inc. | 14 | ||||||
500 | Lindsay Corp. | 30 | ||||||
565 | Miller Industries, Inc. | 8 | ||||||
235 | NACCO Industries, Inc., Class – A | 25 | ||||||
500 | Sauer-Danfoss, Inc. (a) | 14 | ||||||
839 | The Greenbrier Cos., Inc. (a) | 18 | ||||||
1,674 | Titan International, Inc. | 33 | ||||||
252 | Twin Disc, Inc. | 8 | ||||||
2,900 | Wabash National Corp. (a) | 34 | ||||||
299 | ||||||||
Construction Materials — 0.04% |
| |||||||
2,944 | Headwaters, Inc. (a) | 13 | ||||||
931 | Texas Industries, Inc. | 43 | ||||||
56 | ||||||||
Consumer Electronics — 0.01% |
| |||||||
602 | Universal Electronics, Inc. (a) | 17 | ||||||
Consumer Finance — 0.22% |
| |||||||
2,785 | Advance America Cash Advance Centers, Inc. | 16 | ||||||
1,150 | Cardtronics, Inc. (a) | 20 | ||||||
1,338 | Cash America International, Inc. | 49 | ||||||
345 | CompuCredit Holdings Corp. (a) | 2 | ||||||
200 | Credit Acceptance Corp. (a) | 13 |
See accompanying notes to financial statements
54
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Consumer Finance (continued) |
| |||||||
1,000 | Dollar Financial Corp. (a) | $ | 29 | |||||
1,800 | EZCORP, Inc. (a) | 49 | ||||||
1,200 | First Cash Financial Services, Inc. (a) | 37 | ||||||
1,289 | Nelnet, Inc., Class – A | 31 | ||||||
1,194 | Netspend Holdings, Inc. (a) | 15 | ||||||
2,465 | The First Marblehead Corp. (a) | 5 | ||||||
200 | The Student Loan Corp. | 7 | ||||||
646 | World Acceptance Corp. (a) | 34 | ||||||
307 | ||||||||
Data Processing & Outsourced Services — 0.29% |
| |||||||
300 | Cass Information Systems, Inc. | 11 | ||||||
1,565 | CSG Systems International, Inc. (a) | 30 | ||||||
400 | Echo Global Logistics, Inc. (a) | 5 | ||||||
2,087 | Euronet Worldwide, Inc. (a) | 36 | ||||||
600 | Exlservice Holdings, Inc. (a) | 13 | ||||||
2,101 | Global Cash Access Holdings, Inc. (a) | 7 | ||||||
1,600 | Heartland Payment Systems, Inc. | 25 | ||||||
3,785 | MoneyGram International, Inc. (a) | 10 | ||||||
885 | Online Resources Corp. (a) | 4 | ||||||
1,200 | TeleTech Holdings, Inc. (a) | 25 | ||||||
1,100 | TNS, Inc. (a) | 23 | ||||||
3,550 | VeriFone Systems, Inc. (a) | 137 | ||||||
1,600 | Wright Express Corp. (a) | 73 | ||||||
399 | ||||||||
Department Stores — 0.11% |
| |||||||
1,795 | Dillard’s, Inc., Class – A | 68 | ||||||
1,000 | Retail Ventures, Inc. (a) | 16 | ||||||
6,154 | Saks, Inc. (a) | 66 | ||||||
600 | The Bon-Ton Stores, Inc. (a) | 8 | ||||||
158 | ||||||||
Distillers & Vintners — 0.00% |
| |||||||
400 | MGP Ingredients, Inc. | 4 | ||||||
Distributors — 0.02% |
| |||||||
585 | Audiovox Corp., Class – A (a) | 5 | ||||||
461 | Core-Mark Holding Co., Inc. (a) | 16 | ||||||
21 | ||||||||
Diversified Banks — 0.02% |
| |||||||
1,221 | Banco Latinoamericano de Comercio Exterior SA, Class – E | 23 | ||||||
500 | Encore Bancshares, Inc. (a) | 5 | ||||||
28 | ||||||||
Diversified Capital Markets — 0.01% |
| |||||||
500 | HFF, Inc., Class – A (a) | 5 | ||||||
773 | JMP Group, Inc. | 6 | ||||||
11 | ||||||||
Shares | Security Description | Value (000) | ||||||
Diversified Chemicals — 0.15% |
| |||||||
700 | LSB Industries, Inc. (a) | $ | 17 | |||||
3,512 | Olin Corp. | 72 | ||||||
5,000 | Solutia, Inc. (a) | 115 | ||||||
204 | ||||||||
Diversified Metals & Mining — 0.26% |
| |||||||
1,000 | AMCOL International Corp. | 31 | ||||||
995 | Brush Engineered Materials, Inc. (a) | 38 | ||||||
2,700 | General Moly, Inc. (a) | 17 | ||||||
2,550 | Globe Specialty Metals, Inc. | 44 | ||||||
2,076 | Horsehead Holding Corp. (a) | 27 | ||||||
1,100 | Molycorp, Inc. (a) | 55 | ||||||
1,379 | RTI International Metals, Inc. (a) | 37 | ||||||
7,239 | Thompson Creek Metals Co., Inc. (a) | 107 | ||||||
1,400 | U.S. Energy Corp. (a) | 9 | ||||||
365 | ||||||||
Diversified Real Estate Activities — 0.04% |
| |||||||
1,168 | Campus Crest Communities, Inc. | 16 | ||||||
246 | Consolidated-Tomoka Land Co. | 7 | ||||||
716 | Coresite Realty Corp. | 10 | ||||||
600 | Tejon Ranch Co. (a) | 17 | ||||||
50 | ||||||||
Diversified REITs — 0.24% |
| |||||||
2,754 | CapLease, Inc. | 16 | ||||||
3,499 | Colonial Properties Trust | 63 | ||||||
3,837 | Cousins Properties, Inc. | 32 | ||||||
800 | Excel Trust, Inc. | 10 | ||||||
483 | Gladstone Commercial Corp. | 9 | ||||||
3,671 | Investors Real Estate Trust | 33 | ||||||
400 | One Liberty Properties, Inc. | 7 | ||||||
777 | PS Business Parks, Inc. | 43 | ||||||
2,100 | Retail Opportunity Investments Corp. | 21 | ||||||
2,670 | Washington Real Estate Investment Trust | 83 | ||||||
947 | Winthrop Realty Trust, Inc. | 12 | ||||||
329 | ||||||||
Diversified Support Services — 0.15% |
| |||||||
1,726 | Comfort Systems USA, Inc. | 23 | ||||||
800 | EnerNOC, Inc. (a) | 19 | ||||||
874 | G&K Services, Inc., Class – A | 27 | ||||||
2,700 | Healthcare Services Group, Inc. | 44 | ||||||
1,094 | McGrath Rentcorp | 29 | ||||||
1,529 | Mobile Mini, Inc. (a) | 30 | ||||||
496 | Schawk, Inc. | 10 | ||||||
876 | Viad Corp. | 22 | ||||||
204 | ||||||||
Drug Retail — 0.02% |
| |||||||
27,300 | Rite Aid Corp. (a) | 24 | ||||||
Education Services — 0.15% |
| |||||||
800 | American Public Education, Inc. (a) | 30 | ||||||
500 | Archipelago Learning, Inc. (a) | 5 |
See accompanying notes to financial statements
55
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Education Services (continued) |
| |||||||
800 | Bridgepoint Education, Inc. (a) | $ | 15 | |||||
600 | Cambium Learning Group, Inc. (a) | 2 | ||||||
700 | Capella Education Co. (a) | 47 | ||||||
3,700 | Corinthian Colleges, Inc. (a) | 19 | ||||||
1,300 | Grand Canyon Education, Inc. (a) | 25 | ||||||
1,000 | K12, Inc. (a) | 29 | ||||||
300 | Learning Tree International, Inc. | 3 | ||||||
600 | Lincoln Educational Services Corp. | 9 | ||||||
300 | National American University Holdings, Inc. | 2 | ||||||
800 | The Princeton Review, Inc. (a) | 1 | ||||||
900 | Universal Technical Institute, Inc. | 20 | ||||||
207 | ||||||||
Electric Utilities — 0.49% |
| |||||||
1,350 | ALLETE, Inc. | 50 | ||||||
2,482 | Avista Corp. | 56 | ||||||
611 | Central Vermont Public Service Corp. | 13 | ||||||
2,774 | Cleco Corp. | 85 | ||||||
2,070 | El Paso Electric Co. (a) | 57 | ||||||
2,195 | IDACORP, Inc. | 81 | ||||||
1,021 | MGE Energy, Inc. | 44 | ||||||
1,735 | Otter Tail Corp. | 39 | ||||||
3,362 | Portland General Electric Co. | 73 | ||||||
1,788 | The Empire District Electric Co. | 40 | ||||||
2,354 | UIL Holdings Corp. | 71 | ||||||
1,674 | Unisource Energy Corp. | 60 | ||||||
527 | Unitil Corp. | 12 | ||||||
681 | ||||||||
Electrical Components & Equipment — 0.74% |
| |||||||
1,494 | A.O. Smith Corp. | 57 | ||||||
3,000 | A123 Systems, Inc. (a) | 29 | ||||||
1,800 | Acuity Brands, Inc. | 104 | ||||||
2,800 | Advanced Battery Technologies, Inc. (a) | 11 | ||||||
2,100 | American Superconductor Corp. (a) | 60 | ||||||
1,893 | Baldor Electric Co. | 119 | ||||||
1,900 | Belden, Inc. | 70 | ||||||
2,181 | Brady Corp., Class – A | 71 | ||||||
300 | Coleman Cable, Inc. (a) | 2 | ||||||
775 | Encore Wire Corp. | 19 | ||||||
2,500 | Ener1, Inc. (a) | 9 | ||||||
2,303 | Energy Conversion Devices, Inc. (a) | 11 | ||||||
2,190 | EnerSys (a) | 70 | ||||||
10,064 | Evergreen Solar, Inc. (a) | 6 | ||||||
1,007 | Franklin Electric Co., Inc. | 39 | ||||||
4,000 | FuelCell Energy, Inc. (a) | 9 | ||||||
800 | Generac Holdings, Inc. (a) | 13 | ||||||
5,000 | GrafTech International Ltd. (a) | 99 | ||||||
1,050 | II-VI, Inc. (a) | 49 |
Shares | Security Description | Value (000) | ||||||
Electrical Components & Equipment (continued) |
| |||||||
560 | LaBarge, Inc. (a) | $ | 9 | |||||
1,092 | LSI Industries, Inc. | 9 | ||||||
900 | Polypore International, Inc. (a) | 37 | ||||||
362 | Powell Industries, Inc. (a) | 12 | ||||||
1,500 | UQM Technologies, Inc. (a) | 3 | ||||||
800 | Vicor Corp. | 13 | ||||||
2,500 | Woodward Governor Co. | 94 | ||||||
1,024 | ||||||||
Electronic Components — 0.14% |
| |||||||
286 | CPI International, Inc. (a) | 6 | ||||||
700 | DTS, Inc. (a) | 34 | ||||||
300 | Fabrinet (a) | 6 | ||||||
954 | Littelfuse, Inc. | 45 | ||||||
2,900 | Power-One, Inc. (a) | 30 | ||||||
743 | Rogers Corp. (a) | 28 | ||||||
622 | Spectrum Control, Inc. (a) | 9 | ||||||
1,200 | Universal Display Corp. (a) | 37 | ||||||
195 | ||||||||
Electronic Equipment & Instruments — 0.45% |
| |||||||
569 | Analogic Corp. | 28 | ||||||
1,252 | Anixter International, Inc. | 75 | ||||||
600 | Badger Meter, Inc. | 27 | ||||||
2,900 | Brightpoint, Inc. (a) | 25 | ||||||
1,739 | Checkpoint Systems, Inc. (a) | 36 | ||||||
1,705 | Cognex Corp. | 50 | ||||||
1,100 | Coherent, Inc. (a) | 50 | ||||||
1,000 | Comverge, Inc. (a) | 7 | ||||||
1,410 | Daktronics, Inc. | 22 | ||||||
369 | Dawson Geophysical Co. (a) | 12 | ||||||
1,239 | Electro Scientific Industries, Inc. (a) | 20 | ||||||
700 | FARO Technologies, Inc. (a) | 23 | ||||||
1,300 | Gerber Scientific, Inc. (a) | 10 | ||||||
3,427 | L-1 Identity Solutions, Inc. (a) | 41 | ||||||
1,700 | Methode Electronics, Inc. | 22 | ||||||
3,700 | Microvision, Inc. (a) | 7 | ||||||
600 | MTS Systems Corp. | 22 | ||||||
1,748 | Newport Corp. (a) | 30 | ||||||
661 | OSI Systems, Inc. (a) | 24 | ||||||
1,700 | Plexus Corp. (a) | 53 | ||||||
1,155 | Rofin-Sinar Technologies, Inc. (a) | 41 | ||||||
1,486 | X-Rite, Inc. (a) | 7 | ||||||
632 | ||||||||
Electronic Manufacturing Services — 0.26% |
| |||||||
2,870 | Benchmark Electronics, Inc. (a) | 52 | ||||||
1,710 | CTS Corp. | 19 | ||||||
600 | DDi Corp. | 7 | ||||||
1,400 | Echelon Corp. (a) | 14 | ||||||
1,100 | IPG Photonics Corp. (a) | 35 | ||||||
1,100 | Maxwell Technologies, Inc. (a) | 21 | ||||||
736 | Measurement Specialties, Inc. (a) | 22 |
See accompanying notes to financial statements
56
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Electronic Manufacturing Services (continued) |
| |||||||
1,004 | Mercury Computer Systems, Inc. (a) | $ | 18 | |||||
400 | Multi-Fineline Electronix, Inc. (a) | 11 | ||||||
870 | Park Electrochemical Corp. | 26 | ||||||
1,700 | Pulse Electronics Corp. | 9 | ||||||
700 | RadiSys Corp. (a) | 6 | ||||||
3,300 | Sanmina-SCI Corp. (a) | 38 | ||||||
2,331 | SMART Modular Technologies (WWH), | 13 | ||||||
3,471 | TTM Technologies, Inc. (a) | 52 | ||||||
100 | Viasystems Group, Inc. (a) | 2 | ||||||
804 | Zygo Corp. (a) | 10 | ||||||
355 | ||||||||
Environmental & Facilities Services — 0.25% |
| |||||||
2,180 | ABM Industries, Inc. | 57 | ||||||
1,000 | Casella Waste Systems, Inc., Class – A (a) | 7 | ||||||
900 | Clean Harbors, Inc. (a) | 76 | ||||||
4,369 | EnergySolutions, Inc. | 24 | ||||||
1,001 | Fuel Tech, Inc. (a) | 10 | ||||||
1,685 | Metalico, Inc. (a) | 10 | ||||||
2,700 | Rollins, Inc. | 53 | ||||||
600 | Standard Parking Corp. (a) | 11 | ||||||
802 | Team, Inc. (a) | 20 | ||||||
2,600 | Tetra Tech, Inc. (a) | 65 | ||||||
700 | US Ecology, Inc. | 12 | ||||||
345 | ||||||||
Fertilizers & Agricultural Chemicals — 0.01% |
| |||||||
959 | American Vanguard Corp. | 8 | ||||||
Food Distributors — 0.08% |
| |||||||
554 | Nash Finch Co. | 24 | ||||||
1,014 | Spartan Stores, Inc. | 17 | ||||||
2,000 | United Natural Foods, Inc. (a) | 73 | ||||||
114 | ||||||||
Food Retail — 0.22% |
| |||||||
50 | Arden Group, Inc., Class – A | 4 | ||||||
500 | Cal-Maine Foods, Inc. | 16 | ||||||
1,678 | Casey’s General Stores, Inc. | 71 | ||||||
640 | Ingles Markets, Inc., Class – A | 12 | ||||||
1,886 | Ruddick Corp. | 69 | ||||||
414 | Susser Holdings Corp. (a) | 6 | ||||||
790 | The Andersons, Inc. | 29 | ||||||
627 | The Fresh Market, Inc. (a) | 26 | ||||||
1,104 | The Pantry, Inc. (a) | 22 | ||||||
300 | Village Super Market, Inc., Class – A | 10 | ||||||
448 | Weis Markets, Inc. | 18 | ||||||
2,366 | Winn-Dixie Stores, Inc. (a) | 17 | ||||||
300 | ||||||||
Shares | Security Description | Value (000) | ||||||
Footwear — 0.33% |
| |||||||
3,600 | Crocs, Inc. (a) | $ | 62 | |||||
1,600 | Deckers Outdoor Corp. (a) | 128 | ||||||
3,251 | Iconix Brand Group, Inc. (a) | 63 | ||||||
1,248 | K-Swiss, Inc., Class – A (a) | 15 | ||||||
200 | LaCrosse Footwear, Inc. | 3 | ||||||
400 | R.G. Barry Corp. | 4 | ||||||
1,400 | Skechers U.S.A., Inc., Class – A (a) | 28 | ||||||
1,025 | Steven Madden Ltd. (a) | 43 | ||||||
1,800 | The Timberland Co., Class – A (a) | 44 | ||||||
300 | Weyco Group, Inc. | 7 | ||||||
2,000 | Wolverine World Wide, Inc. | 64 | ||||||
461 | ||||||||
Forest Products — 0.06% |
| |||||||
400 | Deltic Timber Corp. | 23 | ||||||
5,756 | Louisiana-Pacific Corp. (a) | 54 | ||||||
77 | ||||||||
Gas Utilities — 0.45% |
| |||||||
476 | Chesapeake Utilities Corp. | 20 | ||||||
1,883 | New Jersey Resources Corp. | 81 | ||||||
2,087 | Nicor, Inc. | 104 | ||||||
1,218 | Northwest Natural Gas Co. | 57 | ||||||
3,286 | Piedmont Natural Gas Co., Inc. | 92 | ||||||
1,290 | South Jersey Industries, Inc. | 68 | ||||||
2,093 | Southwest Gas Corp. | 77 | ||||||
1,042 | The Laclede Group, Inc. | 38 | ||||||
2,349 | WGL Holdings, Inc. | 84 | ||||||
621 | ||||||||
General Merchandise Stores — 0.05% |
| |||||||
1,924 | 99 Cents Only Stores (a) | 31 | ||||||
1,912 | Fred’s, Inc., Class – A | 26 | ||||||
100 | Gordmans Stores, Inc. (a) | 2 | ||||||
1,232 | Tuesday Morning Corp. (a) | 6 | ||||||
65 | ||||||||
Gold — 0.14% |
| |||||||
3,100 | Allied Nevada Gold Corp. (a) | 81 | ||||||
2,500 | Capital Gold Corp. (a) | 13 | ||||||
10,700 | Golden Star Resources Ltd. (a) | 49 | ||||||
3,500 | Jaguar Mining, Inc. (a) | 25 | ||||||
3,700 | U.S. Gold Corp. (a) | 30 | ||||||
198 | ||||||||
Health Care Distributors — 0.14% |
| |||||||
680 | Chindex International, Inc. (a) | 11 | ||||||
500 | MWI Veterinary Supply, Inc. (a) | 32 | ||||||
2,713 | Owens & Minor, Inc. | 80 | ||||||
1,500 | Pharmerica Corp. (a) | 17 | ||||||
2,400 | PSS World Medical, Inc. (a) | 54 | ||||||
194 | ||||||||
See accompanying notes to financial statements
57
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Health Care Equipment — 0.83% |
| |||||||
900 | Abaxis, Inc. (a) | $ | 24 | |||||
1,300 | ABIOMED, Inc. (a) | 13 | ||||||
2,100 | Accuray, Inc. (a) | 14 | ||||||
1,600 | Alphatec Holdings, Inc. (a) | 4 | ||||||
3,100 | American Medical Systems Holdings, Inc. (a) | 59 | ||||||
1,191 | AngioDynamics, Inc. (a) | 18 | ||||||
1,100 | ArthroCare Corp. (a) | 34 | ||||||
702 | Cantel Medical Corp. | 16 | ||||||
1,300 | Conceptus, Inc. (a) | 18 | ||||||
1,307 | CONMED Corp. (a) | 35 | ||||||
1,321 | CryoLife, Inc. (a) | 7 | ||||||
567 | Cutera, Inc. (a) | 5 | ||||||
1,100 | Cyberonics, Inc. (a) | 34 | ||||||
1,800 | Delcath Systems, Inc. (a) | 18 | ||||||
2,400 | DexCom, Inc. (a) | 33 | ||||||
400 | Dynavox, Inc., Class – A (a) | 2 | ||||||
200 | Exactech, Inc. (a) | 4 | ||||||
1,163 | Greatbatch, Inc. (a) | 28 | ||||||
1,800 | Hansen Medical, Inc. (a) | 3 | ||||||
400 | HeartWare International, Inc. (a) | 35 | ||||||
1,700 | Insulet Corp. (a) | 26 | ||||||
900 | Integra LifeSciences Holdings Corp. (a) | 43 | ||||||
1,264 | Invacare Corp. | 38 | ||||||
700 | IRIS International, Inc. (a) | 7 | ||||||
300 | Kensey Nash Corp. (a) | 8 | ||||||
1,300 | MAKO Surgical Corp. (a) | 20 | ||||||
2,100 | Masimo Corp. | 61 | ||||||
1,000 | MELA Sciences, Inc. (a) | 3 | ||||||
1,700 | Meridian Bioscience, Inc. | 39 | ||||||
1,200 | Natus Medical, Inc. (a) | 17 | ||||||
1,600 | NuVasive, Inc. (a) | 41 | ||||||
1,000 | NxStage Medical, Inc. (a) | 25 | ||||||
700 | Orthofix International NV (a) | 20 | ||||||
2,800 | Orthovita, Inc. (a) | 6 | ||||||
685 | Palomar Medical Technologies, Inc. (a) | 10 | ||||||
900 | Quidel Corp. (a) | 13 | ||||||
1,400 | Sirona Dental Systems, Inc. (a) | 59 | ||||||
3,000 | Solta Medical, Inc. (a) | 9 | ||||||
600 | SonoSite, Inc. (a) | 19 | ||||||
1,200 | Stereotaxis, Inc. (a) | 5 | ||||||
2,500 | STERIS Corp. | 91 | ||||||
800 | SurModics, Inc. (a) | 10 | ||||||
1,824 | Symmetry Medical, Inc. (a) | 17 | ||||||
1,800 | Syneron Medical Ltd. (a) | 18 | ||||||
500 | Synovis Life Technologies, Inc. (a) | 8 | ||||||
1,400 | The Spectranetics Corp. (a) | 7 | ||||||
2,061 | TomoTherapy, Inc. (a) | 7 | ||||||
2,100 | Volcano Corp. (a) | 57 |
Shares | Security Description | Value (000) | ||||||
Health Care Equipment (continued) |
| |||||||
1,700 | Wright Medical Group, Inc. (a) | $ | 26 | |||||
180 | Young Innovations, Inc. | 6 | ||||||
850 | Zoll Medical Corp. (a) | 32 | ||||||
1,152 | ||||||||
Health Care Facilities — 0.23% |
| |||||||
1,331 | AmSurg Corp. (a) | 28 | ||||||
490 | Assisted Living Concepts, Inc., Class – A (a) | 16 | ||||||
1,295 | Capital Senior Living Corp. (a) | 9 | ||||||
900 | Emeritus Corp. (a) | 18 | ||||||
1,700 | Five Star Quality Care, Inc. (a) | 12 | ||||||
1,194 | Hanger Orthopedic Group, Inc. (a) | 25 | ||||||
4,000 | HealthSouth Corp. (a) | 83 | ||||||
1,876 | Kindred Healthcare, Inc. (a) | 34 | ||||||
800 | LCA-Vision, Inc. (a) | 5 | ||||||
842 | MedCath Corp. (a) | 12 | ||||||
442 | National Healthcare Corp. | 20 | ||||||
2,502 | Select Medical Holdings Corp. (a) | 18 | ||||||
983 | Skilled Healthcare Group, Inc., Class – A (a) | 9 | ||||||
2,300 | Sunrise Senior Living, Inc. (a) | 12 | ||||||
600 | The Ensign Group, Inc. | 15 | ||||||
465 | U.S. Physical Therapy, Inc. (a) | 9 | ||||||
325 | ||||||||
Health Care Services — 0.44% |
| |||||||
500 | Accretive Health, Inc. (a) | 8 | ||||||
500 | Air Methods Corp. (a) | 28 | ||||||
1,100 | Alliance HealthCare Services, Inc. (a) | 5 | ||||||
2,132 | Allied Healthcare International, Inc. (a) | 5 | ||||||
300 | Almost Family, Inc. (a) | 12 | ||||||
1,200 | Amedisys, Inc. (a) | 40 | ||||||
563 | American Dental Partners, Inc. (a) | 8 | ||||||
1,700 | AMN Healthcare Services, Inc. (a) | 11 | ||||||
1,000 | Bio-Reference Laboratories, Inc. (a) | 22 | ||||||
1,200 | BioScrip, Inc. (a) | 6 | ||||||
1,300 | Cardionet, Inc. (a) | 6 | ||||||
1,600 | Catalyst Health Solutions, Inc. (a) | 74 | ||||||
900 | Chemed Corp. | 57 | ||||||
1,146 | Continucare Corp. (a) | 5 | ||||||
300 | CorVel Corp. (a) | 15 | ||||||
1,508 | Cross Country Healthcare, Inc. (a) | 13 | ||||||
400 | ExamWorks Group, Inc. (a) | 7 | ||||||
700 | Genoptix, Inc. (a) | 13 | ||||||
1,234 | Gentiva Health Services, Inc. (a) | 33 | ||||||
1,477 | Healthways, Inc. (a) | 17 | ||||||
1,100 | HMS Holdings Corp. (a) | 71 | ||||||
700 | IPC The Hospitalist Co., Inc. (a) | 27 | ||||||
400 | Landauer, Inc. | 24 | ||||||
600 | LHC Group, Inc. (a) | 18 | ||||||
100 | National Research Corp. | 3 | ||||||
300 | PDI, Inc. (a) | 3 | ||||||
500 | Providence Service Corp. (a) | 8 |
See accompanying notes to financial statements
58
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Health Care Services (continued) |
| |||||||
1,243 | RehabCare Group, Inc. (a) | $ | 30 | |||||
800 | Rural/Metro Corp. (a) | 12 | ||||||
1,188 | Sun Healthcare Group, Inc. (a) | 15 | ||||||
600 | Team Health Holdings, Inc. (a) | 9 | ||||||
605 | ||||||||
Health Care Supplies — 0.29% |
| |||||||
2,500 | Align Technology, Inc. (a) | 49 | ||||||
300 | Alimera Sciences, Inc. (a) | 3 | ||||||
2,900 | Antares Pharma, Inc. (a) | 5 | ||||||
66 | Atrion Corp. | 12 | ||||||
1,600 | Cerus Corp. (a) | 4 | ||||||
566 | Cynosure, Inc. (a) | 6 | ||||||
2,000 | Endologix, Inc. (a) | 14 | ||||||
1,000 | Haemonetics Corp. (a) | 63 | ||||||
471 | ICU Medical, Inc. (a) | 17 | ||||||
2,900 | Immucor, Inc. (a) | �� | 58 | |||||
764 | Medical Action Industries, Inc. (a) | 7 | ||||||
1,100 | Merit Medical Systems, Inc. (a) | 18 | ||||||
900 | Neogen Corp. (a) | 37 | ||||||
1,900 | OraSure Technologies, Inc. (a) | 11 | ||||||
400 | Rochester Medical Corp. (a) | 4 | ||||||
1,976 | RTI Biologics, Inc. (a) | 5 | ||||||
1,500 | STAAR Surgical Co. (a) | 9 | ||||||
2,000 | Unilife Corp. (a) | 11 | ||||||
700 | Vascular Solutions, Inc. (a) | 8 | ||||||
1,400 | West Pharmaceutical Services, Inc. | 58 | ||||||
399 | ||||||||
Health Care Technology — 0.17% |
| |||||||
1,400 | athenahealth, Inc. (a) | 58 | ||||||
400 | Computer Programs & Systems, Inc. | 19 | ||||||
1,800 | MedAssets, Inc. (a) | 36 | ||||||
800 | Medidata Solutions, Inc. (a) | 19 | ||||||
500 | MedQuist, Inc. | 4 | ||||||
2,100 | Merge Healthcare, Inc. (a) | 8 | ||||||
1,400 | Omnicell, Inc. (a) | 20 | ||||||
800 | Quality Systems, Inc. | 56 | ||||||
400 | Transcend Services, Inc. (a) | 8 | ||||||
643 | Vital Images, Inc. (a) | 9 | ||||||
237 | ||||||||
Heavy Electrical Equipment — 0.05% |
| |||||||
500 | AZZ, Inc. | 20 | ||||||
4,600 | Broadwind Energy, Inc. (a) | 11 | ||||||
10,000 | Capstone Turbine Corp. (a) | 9 | ||||||
800 | PowerSecure International, Inc. (a) | 6 | ||||||
4,800 | SatCon Technology Corp. (a) | 22 | ||||||
68 | ||||||||
Shares | Security Description | Value (000) | ||||||
Home Entertainment Software — 0.05% |
| |||||||
500 | Renaissance Learning, Inc. | $ | 6 | |||||
400 | Rosetta Stone, Inc. (a) | 9 | ||||||
500 | SRS Labs, Inc. (a) | 4 | ||||||
3,121 | Take-Two Interactive Software, Inc. (a) | 38 | ||||||
3,173 | THQ, Inc. (a) | 19 | ||||||
76 | ||||||||
Home Furnishings — 0.06% |
| |||||||
1,112 | Ethan Allen Interiors, Inc. | 22 | ||||||
2,108 | Furniture Brands International, Inc. (a) | 11 | ||||||
606 | Hooker Furniture Corp. | 8 | ||||||
700 | Kid Brands, Inc. (a) | 6 | ||||||
2,541 | La-Z-Boy, Inc. (a) | 23 | ||||||
2,976 | Sealy Corp. (a) | 9 | ||||||
79 | ||||||||
Home Improvement Retail — 0.02% |
| |||||||
900 | Lumber Liquidators Holdings, Inc. (a) | 22 | ||||||
Homebuilding — 0.11% |
| |||||||
3,119 | Beazer Homes USA, Inc. (a) | 17 | ||||||
566 | Brookfield Homes Corp. (a) | 5 | ||||||
263 | Cavco Industries, Inc. (a) | 12 | ||||||
2,726 | Hovnanian Enterprises, Inc., Class – A (a) | 11 | ||||||
817 | M/I Homes, Inc. (a) | 13 | ||||||
1,422 | Meritage Homes Corp. (a) | 32 | ||||||
224 | Skyline Corp. | 6 | ||||||
5,235 | Standard Pacific Corp. (a) | 24 | ||||||
1,960 | The Ryland Group, Inc. | 33 | ||||||
153 | ||||||||
Homefurnishing Retail — 0.06% |
| |||||||
807 | Haverty Furniture Cos., Inc. | 10 | ||||||
700 | Kirkland’s, Inc. (a) | 10 | ||||||
4,300 | Pier 1 Imports, Inc. (a) | 45 | ||||||
2,400 | Select Comfort Corp. (a) | 22 | ||||||
87 | ||||||||
Hotels, Resorts & Cruise Lines — 0.13% |
| |||||||
800 | Ambassadors Group, Inc. | 9 | ||||||
819 | Bluegreen Corp. (a) | 3 | ||||||
1,576 | Gaylord Entertainment Co. (a) | 57 | ||||||
1,700 | Interval Leisure Group, Inc. (a) | 27 | ||||||
711 | Morgans Hotel Group Co. (a) | 6 | ||||||
4,584 | Orient-Express Hotels Ltd., Class – A (a) | 60 | ||||||
767 | Red Lion Hotels Corp. (a) | 6 | ||||||
973 | The Marcus Corp. | 13 | ||||||
181 | ||||||||
Household Appliances — 0.04% |
| |||||||
1,312 | Helen of Troy Ltd. (a) | 39 | ||||||
900 | iRobot Corp. (a) | 22 | ||||||
61 | ||||||||
See accompanying notes to financial statements
59
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Household Products — 0.06% |
| |||||||
2,580 | Central Garden & Pet Co., Class – A (a) | $ | 25 | |||||
283 | Oil-Dri Corp. of America | 6 | ||||||
900 | Spectrum Brands Holdings, Inc. (a) | 28 | ||||||
615 | WD-40 Co. | 25 | ||||||
84 | ||||||||
Housewares & Specialties — 0.05% |
| |||||||
1,867 | American Greetings Corp., Class – A | 41 | ||||||
253 | Blyth, Inc. | 9 | ||||||
379 | CSS Industries, Inc. | 8 | ||||||
500 | Lifetime Brands, Inc. (a) | 7 | ||||||
65 | ||||||||
Human Resource & Employment Services — 0.18% |
| |||||||
900 | Administaff, Inc. | 26 | ||||||
248 | Barrett Business Services, Inc. | 4 | ||||||
484 | CDI Corp. | 9 | ||||||
525 | GP Strategies Corp. (a) | 5 | ||||||
893 | Heidrick & Struggles International, Inc. | 26 | ||||||
1,300 | Hudson Highland Group, Inc. (a) | 8 | ||||||
1,190 | Kelly Services, Inc., Class – A (a) | 22 | ||||||
1,300 | Kforce, Inc. (a) | 21 | ||||||
1,952 | Korn/Ferry International (a) | 45 | ||||||
1,834 | On Assignment, Inc. (a) | 15 | ||||||
2,086 | SFN Group, Inc. (a) | 20 | ||||||
2,040 | TrueBlue, Inc. (a) | 37 | ||||||
690 | Volt Information Sciences, Inc. (a) | 6 | ||||||
244 | ||||||||
Hypermarkets & Super Centers — 0.02% |
| |||||||
600 | PriceSmart, Inc. | 23 | ||||||
Independent Power Producers & Energy |
| |||||||
600 | American DG Energy, Inc. (a) | 2 | ||||||
5,100 | Dynegy, Inc. (a) | 28 | ||||||
30 | ||||||||
Industrial Conglomerates — 0.10% |
| |||||||
1,256 | Kimball International, Inc., Class – B | 9 | ||||||
800 | Libbey, Inc. (a) | 12 | ||||||
700 | Raven Industries, Inc. | 34 | ||||||
15 | Seaboard Corp. | 30 | ||||||
605 | Standex International Corp. | 18 | ||||||
1,133 | Tredegar Corp. | 22 | ||||||
122 | United Capital Corp. (a) | 4 | ||||||
100 | United States Lime & Minerals, Inc. (a) | 4 | ||||||
133 | ||||||||
Industrial Machinery — 0.90% |
| |||||||
800 | 3D Systems Corp. (a) | 25 | ||||||
2,800 | Actuant Corp., Class – A | 74 |
Shares | Security Description | Value (000) | ||||||
Industrial Machinery (continued) |
| |||||||
1,206 | Albany International Corp., Class – A | $ | 29 | |||||
1,100 | Altra Holdings, Inc. (a) | 22 | ||||||
243 | Ampco-Pittsburgh Corp. | 7 | ||||||
2,137 | Barnes Group, Inc. | 44 | ||||||
2,000 | Blount International, Inc. (a) | 31 | ||||||
2,262 | Briggs & Stratton Corp. | 44 | ||||||
1,231 | Chart Industries, Inc. (a) | 42 | ||||||
799 | CIRCOR International, Inc. | 34 | ||||||
2,101 | CLARCOR, Inc. | 90 | ||||||
1,000 | Colfax Corp. (a) | 18 | ||||||
781 | Columbus McKinnon Corp. (a) | 16 | ||||||
600 | Dynamic Materials Corp. | 14 | ||||||
1,500 | Energy Recovery, Inc. (a) | 5 | ||||||
855 | ENPRO Industries, Inc. (a) | 35 | ||||||
1,156 | ESCO Technologies, Inc. | 44 | ||||||
1,983 | Flow International Corp. (a) | 8 | ||||||
3,600 | Force Protection, Inc. (a) | 20 | ||||||
400 | Graham Corp. | 8 | ||||||
1,200 | John Bean Technologies Corp. | 24 | ||||||
592 | Kadant, Inc. (a) | 14 | ||||||
1,400 | Kaydon Corp. | 57 | ||||||
519 | L.B. Foster Co., Class – A (a) | 21 | ||||||
900 | Lydall, Inc. (a) | 7 | ||||||
700 | Met-Pro Corp. | 8 | ||||||
1,670 | Mueller Industries, Inc. | 55 | ||||||
6,681 | Mueller Water Products, Inc., Class – A | 28 | ||||||
1,433 | Nordson Corp. | 132 | ||||||
100 | Omega Flex, Inc. (a) | 2 | ||||||
600 | PMFG, Inc. (a) | 10 | ||||||
900 | RBC Bearings, Inc. (a) | 35 | ||||||
1,192 | Robbins & Myers, Inc. | 43 | ||||||
500 | Sun Hydraulics Corp. | 19 | ||||||
970 | Tecumseh Products Co., Class – A (a) | 13 | ||||||
800 | Tennant Co. | 31 | ||||||
500 | The Gorman-Rupp Co. | 16 | ||||||
700 | The Middleby Corp. (a) | 59 | ||||||
600 | TriMas Corp. (a) | 12 | ||||||
1,286 | Watts Water Technologies, Inc., Class – A | 47 | ||||||
300 | Xerium Technologies, Inc. (a) | 5 | ||||||
1,248 | ||||||||
Industrial REITs — 0.15% |
| |||||||
9,267 | DCT Industrial Trust, Inc. | 49 | ||||||
1,851 | DuPont Fabros Technology, Inc. | 40 | ||||||
1,190 | EastGroup Properties, Inc. | 50 | ||||||
2,547 | First Industrial Realty Trust, Inc. (a) | 22 | ||||||
2,207 | First Potomac Realty Trust | 37 | ||||||
1,130 | Monmouth Real Estate Investment Corp., | 10 | ||||||
400 | Terreno Realty Corp. (a) | 7 | ||||||
215 | ||||||||
See accompanying notes to financial statements
60
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Insurance Brokers — 0.03% |
| |||||||
1,000 | Crawford & Co., Class – B (a) | $ | 4 | |||||
1,000 | eHealth, Inc. (a) | 14 | ||||||
1,944 | National Financial Partners Corp. (a) | 26 | ||||||
44 | ||||||||
Integrated Oil & Gas — 0.03% |
| |||||||
7,000 | Kodiak Oil & Gas Corp. (a) | 46 | ||||||
Integrated Telecommunication Services — 0.12% |
| |||||||
1,900 | Alaska Communications Systems Group, Inc. | 21 | ||||||
400 | Atlantic Tele-Network, Inc. | 15 | ||||||
1,100 | Cbeyond, Inc. (a) | 17 | ||||||
9,791 | Cincinnati Bell, Inc. (a) | 27 | ||||||
1,076 | Consolidated Communications Holdings, Inc. | 21 | ||||||
1,947 | General Communication, Inc., Class – A (a) | 25 | ||||||
500 | IDT Corp., Class – B | 13 | ||||||
1,200 | NTELOS Holdings Corp. | 23 | ||||||
162 | ||||||||
Internet Retail — 0.11% |
| |||||||
1,272 | 1-800-FLOWERS.COM, Inc., Class – A (a) | 3 | ||||||
500 | Blue Nile, Inc. (a) | 29 | ||||||
3,900 | drugstore.com, Inc. (a) | 9 | ||||||
1,100 | NutriSystem, Inc. | 23 | ||||||
800 | Orbitz Worldwide, Inc. (a) | 5 | ||||||
600 | Overstock.com, Inc. (a) | 10 | ||||||
1,000 | PetMed Express, Inc. | 18 | ||||||
1,142 | Shutterfly, Inc. (a) | 40 | ||||||
400 | Stamps.com, Inc. | 5 | ||||||
500 | U.S. Auto Parts Network, Inc. (a) | 4 | ||||||
600 | Vitacost.com, Inc. (a) | 3 | ||||||
149 | ||||||||
Internet Software & Services — 0.83% |
| |||||||
750 | Ancestry.com, Inc. (a) | 21 | ||||||
6,500 | Art Technology Group, Inc. (a) | 39 | ||||||
1,700 | CDC Corp., Class – A (a) | 6 | ||||||
1,900 | Cogent Communications Group, Inc. (a) | 27 | ||||||
900 | comScore, Inc. (a) | 20 | ||||||
1,200 | Constant Contact, Inc. (a) | 37 | ||||||
1,800 | DealerTrack Holdings, Inc. (a) | 36 | ||||||
700 | Dice Holdings, Inc. (a) | 10 | ||||||
1,707 | Digital River, Inc. (a) | 59 | ||||||
4,836 | EarthLink, Inc. | 42 | ||||||
200 | Envestnet, Inc. (a) | 3 | ||||||
776 | Global Sources Ltd. (a) | 7 | ||||||
2,800 | GSI Commerce, Inc. (a) | 65 | ||||||
1,769 | InfoSpace, Inc. (a) | 15 | ||||||
2,057 | Internap Network Services Corp. (a) | 13 |
Shares | Security Description | Value (000) | ||||||
Internet Software & Services (continued) |
| |||||||
1,795 | Internet Capital Group, Inc. (a) | $ | 26 | |||||
300 | Intralinks Holdings, Inc. (a) | 6 | ||||||
2,002 | j2 Global Communications, Inc. (a) | 58 | ||||||
464 | Keynote Systems, Inc. | 7 | ||||||
1,200 | KIT Digital, Inc. (a) | 19 | ||||||
1,600 | Limelight Networks, Inc. (a) | 9 | ||||||
2,500 | Lionbridge Technologies, Inc. (a) | 9 | ||||||
600 | Liquidity Services, Inc. (a) | 8 | ||||||
1,900 | LivePerson, Inc. (a) | 21 | ||||||
700 | Local.com Corp. (a) | 5 | ||||||
600 | LogMeln, Inc. (a) | 27 | ||||||
800 | LoopNet, Inc. (a) | 9 | ||||||
531 | Marchex, Inc., Class – B | 5 | ||||||
200 | Mediamind Technologies, Inc. (a) | 3 | ||||||
1,911 | ModusLink Global Solutions, Inc. (a) | 13 | ||||||
6,500 | Move, Inc. (a) | 17 | ||||||
2,300 | NIC, Inc. | 22 | ||||||
600 | OpenTable, Inc. (a) | 42 | ||||||
3,500 | Openwave Systems, Inc. (a) | 7 | ||||||
954 | Perficient, Inc. (a) | 12 | ||||||
400 | QuinStreet, Inc. (a) | 8 | ||||||
4,000 | Rackspace Hosting, Inc. (a) | 126 | ||||||
4,207 | RealNetworks, Inc. (a) | 18 | ||||||
900 | RightNow Technologies, Inc. (a) | 21 | ||||||
2,600 | S1 Corp. (a) | 18 | ||||||
1,200 | Saba Software, Inc. (a) | 7 | ||||||
1,600 | SAVVIS, Inc. (a) | 41 | ||||||
200 | SPS Commerce, Inc. (a) | 3 | ||||||
1,900 | Support.com, Inc. (a) | 12 | ||||||
2,400 | Terremark Worldwide, Inc. (a) | 31 | ||||||
1,500 | The Knot, Inc. (a) | 15 | ||||||
200 | Travelzoo, Inc. (a) | 8 | ||||||
3,610 | United Online, Inc. | 24 | ||||||
3,501 | ValueClick, Inc. (a) | 56 | ||||||
1,224 | VASCO Data Security International, Inc. (a) | 10 | ||||||
700 | Vocus, Inc. (a) | 19 | ||||||
2,300 | Zix Corp. (a) | 10 | ||||||
1,152 | ||||||||
Investment Banking & Brokerage — 0.35% |
| |||||||
2,400 | BGC Partners, Inc., Class – A | 20 | ||||||
1,892 | Cowen Group, Inc., Class – A (a) | 9 | ||||||
1,100 | Duff & Phelps Corp., Class – A | 19 | ||||||
653 | Evercore Partners, Inc., Class – A | 22 | ||||||
2,771 | FBR Capital Markets Corp. (a) | 11 | ||||||
3,100 | GFI Group, Inc. | 14 | ||||||
3,700 | Gleacher & Co., Inc. (a) | 9 | ||||||
612 | International Assets Holding Corp. (a) | 14 | ||||||
2,100 | Investment Technology Group, Inc. (a) | 34 | ||||||
1,573 | KBW, Inc. | 44 | ||||||
4,174 | Knight Capital Group, Inc., Class – A (a) | 58 | ||||||
2,000 | LaBranche & Co., Inc. (a) | 7 |
See accompanying notes to financial statements
61
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Investment Banking & Brokerage (continued) |
| |||||||
3,800 | Ladenburg Thalmann Financial Services, Inc. (a) | $ | 4 | |||||
4,984 | MF Global Holdings Ltd. (a) | 42 | ||||||
484 | Oppenheimer Holdings, Inc., Class – A | 13 | ||||||
1,800 | optionsXpress Holdings, Inc. | 28 | ||||||
742 | Piper Jaffray Cos., Inc. (a) | 26 | ||||||
600 | Rodman & Renshaw Capital Group, Inc. (a) | 2 | ||||||
1,091 | Sanders Morris Harris Group, Inc. | 8 | ||||||
1,434 | Stifel Financial Corp. (a) | 89 | ||||||
1,290 | SWS Group, Inc. | 6 | ||||||
1,657 | TradeStation Group, Inc. (a) | 11 | ||||||
490 | ||||||||
IT Consulting & Other Services — 0.34% |
| |||||||
2,800 | Acxiom Corp. (a) | 48 | ||||||
1,418 | CACI International, Inc., Class – A (a) | 76 | ||||||
2,289 | CIBER, Inc. (a) | 11 | ||||||
728 | Computer Task Group, Inc. (a) | 8 | ||||||
600 | Forrester Research, Inc. | 21 | ||||||
950 | iGATE Corp. | 19 | ||||||
725 | Integral Systems, Inc. (a) | 7 | ||||||
945 | ManTech International Corp., Class – A (a) | 39 | ||||||
700 | MAXIMUS, Inc. | 46 | ||||||
300 | NCI, Inc., Class – A (a) | 7 | ||||||
4,300 | Sapient Corp. | 52 | ||||||
2,019 | SRA International, Inc., Class – A (a) | 41 | ||||||
500 | Syntel, Inc. | 24 | ||||||
1,797 | The Hackett Group, Inc. (a) | 6 | ||||||
783 | Tier Technologies, Inc., Class – B (a) | 5 | ||||||
1,962 | Unisys Corp. (a) | 51 | ||||||
502 | Virtusa Corp. (a) | 8 | ||||||
469 | ||||||||
Leisure Facilities — 0.12% |
| |||||||
1,760 | Life Time Fitness, Inc. (a) | 72 | ||||||
694 | Speedway Motorsports, Inc. | 11 | ||||||
1,606 | Vail Resorts, Inc. (a) | 83 | ||||||
166 | ||||||||
Leisure Products — 0.24% |
| |||||||
700 | Arctic Cat, Inc. (a) | 10 | ||||||
3,700 | Brunswick Corp. | 69 | ||||||
2,979 | Callaway Golf Co. | 24 | ||||||
1,173 | JAKKS Pacific, Inc. (a) | 21 | ||||||
1,441 | Leapfrog Enterprises, Inc. (a) | 8 | ||||||
400 | Marine Products Corp. (a) | 3 | ||||||
1,300 | Polaris Industries, Inc. | 102 | ||||||
2,100 | Pool Corp. | 47 | ||||||
1,030 | RC2 Corp. (a) | 22 | ||||||
2,300 | Smith & Wesson Holding Corp. (a) | 9 | ||||||
325 | Steinway Musical Instruments, Inc. (a) | 7 |
Shares | Security Description | Value (000) | ||||||
Leisure Products (continued) |
| |||||||
800 | Sturm, Ruger & Co., Inc. | $ | 12 | |||||
400 | Summer Infant, Inc. (a) | 3 | ||||||
337 | ||||||||
Life & Health Insurance — 0.20% |
| |||||||
2,722 | American Equity Investment | 34 | ||||||
1,885 | Citizens, Inc. (a) | 14 | ||||||
9,678 | CNO Financial Group, Inc. (a) | 66 | ||||||
2,109 | Delphi Financial Group, Inc., Class – A | 61 | ||||||
673 | FBL Financial Group, Inc., Class – A | 19 | ||||||
243 | Kansas City Life Insurance Co. | 8 | ||||||
98 | National Western Life Insurance Co., | 16 | ||||||
1,058 | Presidential Life Corp. | 11 | ||||||
1,200 | Primerica, Inc. | 29 | ||||||
5,922 | The Phoenix Cos., Inc. (a) | 15 | ||||||
273 | ||||||||
Life Sciences Tools & Services — 0.27% |
| |||||||
3,428 | Affymetrix, Inc. (a) | 17 | ||||||
1,181 | Albany Molecular Research, Inc. (a) | 7 | ||||||
3,000 | Bruker Corp. (a) | 50 | ||||||
1,900 | Caliper Life Sciences, Inc. (a) | 12 | ||||||
1,620 | Cambrex Corp. (a) | 8 | ||||||
743 | Dionex Corp. (a) | 88 | ||||||
2,000 | eResearchTechnology, Inc. (a) | 15 | ||||||
5,000 | Exelixis, Inc. (a) | 41 | ||||||
300 | Furiex Pharmaceuticals, Inc. (a) | 4 | ||||||
620 | Kendle International, Inc. (a) | 7 | ||||||
1,600 | Luminex Corp. (a) | 29 | ||||||
600 | Pacific Biosciences of California, Inc. (a) | 10 | ||||||
2,400 | PAREXEL International Corp. (a) | 51 | ||||||
1,400 | PURE Bioscience (a) | 3 | ||||||
3,800 | Sequenom, Inc. (a) | 30 | ||||||
372 | ||||||||
Managed Health Care — 0.32% |
| |||||||
400 | America Service Group, Inc. | 6 | ||||||
2,383 | AMERIGROUP Corp. (a) | 105 | ||||||
2,141 | Centene Corp. (a) | 54 | ||||||
2,647 | HealthSpring, Inc. (a) | 70 | ||||||
1,524 | Magellan Health Services, Inc. (a) | 72 | ||||||
1,700 | Metropolitan Health Networks, Inc. (a) | 8 | ||||||
698 | Molina Heathcare, Inc. (a) | 19 | ||||||
851 | Triple-S Management Corp., Class – B (a) | 16 | ||||||
1,624 | Universal American Corp. | 33 | ||||||
1,941 | WellCare Health Plans, Inc. (a) | 59 | ||||||
442 | ||||||||
Marine — 0.11% |
| |||||||
800 | Baltic Trading Ltd. | 8 | ||||||
2,475 | Eagle Bulk Shipping, Inc. (a) | 12 |
See accompanying notes to financial statements
62
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Marine (continued) |
| |||||||
2,100 | Excel Maritime Carriers Ltd. (a) | $ | 12 | |||||
1,355 | Genco Shipping & Trading Ltd. (a) | 20 | ||||||
1,513 | Horizon Lines, Inc., Class – A | 7 | ||||||
281 | International Shipholding Corp. | 7 | ||||||
1,200 | Overseas Shipholding Group, Inc. | 42 | ||||||
1,998 | Ship Finance International Ltd. | 43 | ||||||
1,260 | Ultrapetrol Bahamas Ltd. (a) | 8 | ||||||
159 | ||||||||
Marine Ports & Services — 0.01% |
| |||||||
519 | CAI International, Inc. (a) | 10 | ||||||
Metal & Glass Containers — 0.08% |
| |||||||
200 | AEP Industries, Inc. (a) | 5 | ||||||
800 | Graham Packaging Co., Inc. (a) | 10 | ||||||
1,693 | Myers Industries, Inc. | 17 | ||||||
2,306 | Silgan Holdings, Inc. | 83 | ||||||
115 | ||||||||
Mortgage REITs — 0.48% |
| |||||||
2,283 | American Capital Agency Corp. | 66 | ||||||
5,807 | Anworth Mortgage Asset Corp. | 41 | ||||||
751 | Apollo Commercial Real Estate Finance, Inc. | 12 | ||||||
3,041 | Capstead Mortgage Corp. | 38 | ||||||
676 | Colony Financial, Inc. | 14 | ||||||
676 | CreXus Investment Corp. | 9 | ||||||
2,189 | Cypress Sharpridge Investments, Inc. | 28 | ||||||
645 | Dynex Capital, Inc. | 7 | ||||||
2,166 | Hatteras Financial Corp. | 66 | ||||||
1,747 | Invesco Mortgage Capital, Inc. | 38 | ||||||
4,498 | iStar Financial, Inc. (a) | 35 | ||||||
12,866 | MFA Financial, Inc. | 105 | ||||||
3,200 | Newcastle Investment Corp. (a) | 21 | ||||||
3,442 | NorthStar Realty Finance Corp. | 16 | ||||||
817 | Pennymac Mortgage Investment Trust | 15 | ||||||
3,683 | RAIT Financial Trust (a) | 8 | ||||||
3,382 | Redwood Trust, Inc. | 50 | ||||||
2,193 | Resource Capital Corp. | 16 | ||||||
2,289 | Starwood Property Trust, Inc. | 49 | ||||||
1,300 | Two Harbors Investment Corp. | 13 | ||||||
1,265 | Walter Investment Management Corp. | 23 | ||||||
670 | ||||||||
Movies & Entertainment — 0.16% |
| |||||||
592 | Ascent Media Corp., Class – A (a) | 23 | ||||||
600 | Ballantyne Strong, Inc. (a) | 5 | ||||||
321 | Carmike Cinemas, Inc. (a) | 3 | ||||||
2,447 | Cinemark Holdings, Inc. | 42 | ||||||
2,800 | CKX, Inc. (a) | 11 | ||||||
2,750 | Lions Gate Entertainment Corp. (a) | 18 | ||||||
6,216 | Live Nation, Inc. (a) | 71 |
Shares | Security Description | Value (000) | ||||||
Movies & Entertainment (continued) |
| |||||||
665 | LodgeNet Interactive Corp. (a) | $ | 3 | |||||
600 | Playboy Enterprises, Inc., Class – B (a) | 3 | ||||||
400 | Rentrak Corp. (a) | 12 | ||||||
2,200 | Warner Music Group Corp. (a) | 12 | ||||||
1,182 | World Wrestling Entertainment, Inc., | 17 | ||||||
220 | ||||||||
Multi-line Insurance — 0.02% |
| |||||||
1,808 | Horace Mann Educators Corp. | 33 | ||||||
Multi-Sector Holdings — 0.04% |
| |||||||
1,327 | Compass Diversified Holdings, Inc. | 24 | ||||||
1,079 | PICO Holdings, Inc. (a) | 34 | ||||||
58 | ||||||||
Multi-Utilities — 0.13% |
| |||||||
1,729 | Black Hills Corp. | 52 | ||||||
715 | CH Energy Group, Inc. | 35 | ||||||
1,619 | NorthWestern Corp. | 47 | ||||||
4,027 | PNM Resources, Inc. | 52 | ||||||
186 | ||||||||
Office REITs — 0.32% |
| |||||||
6,074 | BioMed Realty Trust, Inc. | 113 | ||||||
3,128 | Franklin Street Properties Corp. | 44 | ||||||
1,343 | Government Properties Income Trust | 36 | ||||||
3,259 | Highwoods Properties, Inc. | 104 | ||||||
2,514 | Kilroy Realty Corp. | 92 | ||||||
4,087 | Lexington Realty Trust | 32 | ||||||
1,010 | Mission West Properties, Inc. | 7 | ||||||
2,500 | MPG Office Trust, Inc. (a) | 7 | ||||||
891 | Parkway Properties, Inc. | 16 | ||||||
451 | ||||||||
Office Services & Supplies — 0.29% |
| |||||||
2,352 | ACCO Brands Corp. (a) | 20 | ||||||
1,843 | American Reprographics Co. (a) | 14 | ||||||
1,300 | APAC Customer Services, Inc. (a) | 8 | ||||||
2,400 | Herman Miller, Inc. | 61 | ||||||
300 | Higher One Holdings, Inc. (a) | 6 | ||||||
1,900 | HNI Corp. | 59 | ||||||
2,100 | Interface, Inc., Class – A | 33 | ||||||
2,000 | Knoll, Inc. | 33 | ||||||
1,122 | Mine Safety Appliances Co. | 35 | ||||||
3,496 | Steelcase, Inc., Class – A | 37 | ||||||
2,000 | Sykes Enterprises, Inc. (a) | 41 | ||||||
987 | United Stationers, Inc. (a) | 63 | ||||||
410 | ||||||||
Oil & Gas Drilling — 0.06% |
| |||||||
4,634 | Hercules Offshore, Inc. (a) | 16 | ||||||
5,505 | Parker Drilling Co. (a) | 25 | ||||||
2,721 | Pioneer Drilling Co. (a) | 24 |
See accompanying notes to financial statements
63
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Oil & Gas Drilling (continued) |
| |||||||
600 | Seahawk Drilling, Inc. (a) | $ | 6 | |||||
575 | Union Drilling, Inc. (a) | 4 | ||||||
6,466 | Vantage Drilling Co. (a) | 13 | ||||||
88 | ||||||||
Oil & Gas Equipment & Services — 0.72% |
| |||||||
1,759 | Allis-Chalmers Energy, Inc. (a) | 12 | ||||||
1,154 | Basic Energy Services, Inc. (a) | 19 | ||||||
1,689 | Bristow Group, Inc. (a) | 80 | ||||||
4,610 | Cal Dive International, Inc. (a) | 26 | ||||||
800 | CARBO Ceramics, Inc. | 83 | ||||||
3,612 | Complete Production Services, Inc. (a) | 107 | ||||||
1,400 | Dril-Quip, Inc. (a) | 109 | ||||||
4,273 | Global Industries Ltd. (a) | 30 | ||||||
573 | Gulf Island Fabrication, Inc. | 16 | ||||||
1,130 | GulfMark Offshore, Inc., Class – A (a) | 34 | ||||||
4,742 | Helix Energy Solutions Group, Inc. (a) | 57 | ||||||
979 | Hornbeck Offshore Services, Inc. (a) | 20 | ||||||
5,300 | ION Geophysical Corp. (a) | 45 | ||||||
5,497 | Key Energy Services, Inc. (a) | 71 | ||||||
1,200 | Lufkin Industries, Inc. | 75 | ||||||
1,137 | Matrix Service Co. (a) | 14 | ||||||
572 | Natural Gas Services Group, Inc. (a) | 11 | ||||||
4,404 | Newpark Resources, Inc. (a) | 27 | ||||||
159 | OYO Geospace Corp. (a) | 16 | ||||||
690 | PHI, Inc. (a) | 13 | ||||||
1,800 | RPC, Inc. | 33 | ||||||
519 | T-3 Energy Services, Inc. (a) | 21 | ||||||
1,500 | Tesco Corp. (a) | 24 | ||||||
3,576 | TETRA Technologies, Inc. (a) | 42 | ||||||
2,000 | Willbros Group, Inc. (a) | 20 | ||||||
1,005 | ||||||||
Oil & Gas Exploration & Production — 1.05% |
| |||||||
3,300 | Abraxas Petroleum Corp. (a) | 15 | ||||||
400 | Apco Oil & Gas International, Inc. | 23 | ||||||
732 | Approach Resources, Inc. (a) | 17 | ||||||
2,170 | ATP Oil & Gas Corp. (a) | 36 | ||||||
2,291 | Berry Petroleum Co., Class – A | 100 | ||||||
2,126 | Bill Barrett Corp. (a) | 87 | ||||||
4,749 | BPZ Resources, Inc. (a) | 23 | ||||||
4,800 | Brigham Exploration Co. (a) | 131 | ||||||
1,200 | Callon Petroleum Co. (a) | 7 | ||||||
2,000 | CAMAC Energy, Inc. (a) | 4 | ||||||
1,300 | Carrizo Oil & Gas, Inc. (a) | 45 | ||||||
277 | Clayton Williams Energy, Inc. (a) | 23 | ||||||
1,332 | Cloud Peak Energy, Inc. (a) | 31 | ||||||
456 | Contango Oil & Gas Co. | 26 | ||||||
24 | Contango ORE, Inc. (a) | — | ||||||
9,597 | Delta Petroleum Corp. (a) | 7 |
Shares | Security Description | Value (000) | ||||||
Oil & Gas Exploration & Production (continued) |
| |||||||
842 | Endeavour International Corp. (a) | $ | 12 | |||||
1,500 | Energy Partners Ltd. (a) | 22 | ||||||
2,900 | Energy XXI (Bermuda) Ltd. (a) | 80 | ||||||
600 | Evolution Petroleum Corp. (a) | 4 | ||||||
1,800 | FX Energy, Inc. (a) | 11 | ||||||
2,300 | Gastar Exploration Ltd. (a) | 10 | ||||||
608 | GeoResources, Inc. (a) | 14 | ||||||
1,623 | GMX Resources, Inc. (a) | 9 | ||||||
1,100 | Goodrich Petroleum Corp. (a) | 19 | ||||||
1,100 | Gulfport Energy Corp. (a) | 24 | ||||||
1,660 | Harvest Natural Resources, Inc. (a) | 20 | ||||||
700 | Houston American Energy Corp. | 13 | ||||||
2,200 | Magnum Hunter Resources Corp. (a) | 16 | ||||||
3,900 | McMoRan Exploration Co. (a) | 67 | ||||||
1,000 | Miller Petroleum, Inc. (a) | 5 | ||||||
2,200 | Northern Oil & Gas, Inc. (a) | 60 | ||||||
2,100 | Oasis Petroleum, Inc. (a) | 57 | ||||||
300 | Panhandle Oil & Gas, Inc., Class – A | 8 | ||||||
2,064 | Penn Virginia Corp. | 35 | ||||||
923 | Petroleum Development Corp. (a) | 39 | ||||||
2,551 | Petroquest Energy, Inc. (a) | 19 | ||||||
2,100 | RAM Energy Resources, Inc. (a) | 4 | ||||||
1,800 | Resolute Energy Corp. (a) | 27 | ||||||
2,332 | Rosetta Resources, Inc. (a) | 88 | ||||||
1,994 | Stone Energy Corp. (a) | 45 | ||||||
1,889 | Swift Energy Co. (a) | 74 | ||||||
6,100 | TransAtlantic Petroleum Ltd. (a) | 20 | ||||||
2,466 | VAALCO Energy, Inc. (a) | 18 | ||||||
937 | Venoco, Inc. (a) | 17 | ||||||
1,451 | W&T Offshore, Inc. | 26 | ||||||
3,636 | Warren Resources, Inc. (a) | 16 | ||||||
1,454 | ||||||||
Oil & Gas Refining & Marketing — 0.16% |
| |||||||
409 | Alon USA Energy, Inc. | 3 | ||||||
1,900 | Clean Energy Fuels Corp. (a) | 26 | ||||||
1,063 | CVR Energy, Inc. (a) | 16 | ||||||
735 | Delek US Holdings, Inc. | 5 | ||||||
524 | Green Plains Renewable Energy, Inc. (a) | 6 | ||||||
9,000 | Rentech, Inc. (a) | 11 | ||||||
1,606 | Rex Energy Corp. (a) | 22 | ||||||
2,900 | Syntroleum Corp. (a) | 6 | ||||||
2,074 | Western Refining, Inc. (a) | 22 | ||||||
3,050 | World Fuel Services Corp. | 110 | ||||||
227 | ||||||||
Oil & Gas Storage & Transportation — 0.13% |
| |||||||
2,791 | Cheniere Energy, Inc. (a) | 16 | ||||||
1,742 | Crosstex Energy, Inc. | 16 | ||||||
2,573 | DHT Maritime, Inc. | 12 | ||||||
136,440 | Enbridge Energy Management LLC (a) | — | ||||||
3,776 | General Maritime Corp. | 12 |
See accompanying notes to financial statements
64
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Oil & Gas Storage & Transportation (continued) |
| |||||||
1,814 | Golar LNG Ltd. | $ | 27 | |||||
1,091 | Knightsbridge Tankers Ltd. | 24 | ||||||
2,159 | Nordic American Tanker Shipping Ltd. | 56 | ||||||
400 | Scorpio Tankers, Inc. (a) | 4 | ||||||
1,400 | Teekay Tankers Ltd., Class – A | 17 | ||||||
184 | ||||||||
Packaged Foods & Meats — 0.35% |
| |||||||
2,230 | B&G Foods, Inc., Class – A | 31 | ||||||
100 | Bridgford Foods Corp. | 1 | ||||||
500 | Calavo Growers, Inc. | 12 | ||||||
1,926 | Chiquita Brands International, Inc. (a) | 27 | ||||||
900 | Diamond Foods, Inc. | 48 | ||||||
1,776 | Dole Food Co., Inc. (a) | 24 | ||||||
200 | Farmer Brothers Co. | 4 | ||||||
524 | Harbinger Group, Inc. (a) | 3 | ||||||
486 | Imperial Sugar Co. | 6 | ||||||
500 | J&J Snack Foods Corp. | 24 | ||||||
400 | John B. Sanfilippo & Son, Inc. (a) | 5 | ||||||
800 | Lancaster Colony Corp. | 46 | ||||||
200 | Lifeway Foods, Inc. (a) | 2 | ||||||
2,300 | Pilgrim’s Pride Corp. (a) | 16 | ||||||
900 | Sanderson Farms, Inc. | 35 | ||||||
454 | Seneca Foods Corp., Class – A (a) | 12 | ||||||
3,021 | Smart Balance, Inc. (a) | 13 | ||||||
1,100 | Snyder’s-Lance, Inc. | 26 | ||||||
1,802 | The Hain Celestial Group, Inc. (a) | 49 | ||||||
900 | Tootsie Roll Industries, Inc. | 26 | ||||||
1,594 | TreeHouse Foods, Inc. (a) | 81 | ||||||
491 | ||||||||
Paper Packaging — 0.10% |
| |||||||
3,489 | Boise, Inc. | 28 | ||||||
5,180 | Graphic Packaging Holding Co. (a) | 20 | ||||||
1,691 | Rock-Tenn Co., Class – A | 91 | ||||||
139 | ||||||||
Paper Products — 0.16% |
| |||||||
1,786 | Buckeye Technologies, Inc. | 38 | ||||||
511 | Clearwater Paper Corp. (a) | 40 | ||||||
1,891 | KapStone Paper & Packaging Corp. (a) | 29 | ||||||
608 | Neenah Paper, Inc. | 12 | ||||||
2,210 | P.H. Glatfelter Co. | 27 | ||||||
800 | Schweitzer-Mauduit International, Inc. | 50 | ||||||
600 | Verso Paper Corp. (a) | 2 | ||||||
2,404 | Wausau Paper Corp. | 21 | ||||||
219 | ||||||||
Personal Products — 0.13% |
| |||||||
1,015 | Elizabeth Arden, Inc. (a) | 23 | ||||||
600 | Inter Parfums, Inc. | 11 |
Shares | Security Description | Value (000) | ||||||
Personal Products (continued) |
| |||||||
600 | Medifast, Inc. (a) | $ | 17 | |||||
300 | Nature’s Sunshine Products, Inc. (a) | 3 | ||||||
2,000 | Nu Skin Enterprises, Inc., Class – A | 60 | ||||||
530 | Nutraceutical International Corp. (a) | 8 | ||||||
2,074 | Prestige Brands Holdings, Inc. (a) | 25 | ||||||
434 | Revlon, Inc., Class – A (a) | 4 | ||||||
668 | Schiff Nutrition International, Inc. | 6 | ||||||
800 | Synutra International, Inc. (a) | 11 | ||||||
700 | The Female Health Co. | 4 | ||||||
200 | USANA Health Sciences, Inc. (a) | 9 | ||||||
181 | ||||||||
Pharmaceuticals — 0.58% |
| |||||||
400 | Acura Pharmaceuticals, Inc. (a) | 1 | ||||||
200 | Aegerion Pharmaceuticals, Inc. (a) | 3 | ||||||
2,300 | Akorn, Inc. (a) | 14 | ||||||
1,800 | Alexza Pharmaceuticals, Inc. (a) | 2 | ||||||
1,000 | Aoxing Pharmaceutical Co., Inc. (a) | 3 | ||||||
600 | Ardea Biosciences, Inc. (a) | 16 | ||||||
1,700 | Auxilium Pharmaceuticals, Inc. (a) | 36 | ||||||
3,800 | AVANIR Pharmaceuticals, Inc., | 15 | ||||||
800 | Biodel, Inc. (a) | 1 | ||||||
700 | BioMimetic Therapeutics, Inc. (a) | 9 | ||||||
1,462 | BMP Sunstone Corp. (a) | 14 | ||||||
1,000 | Cadence Pharmaceuticals, Inc. (a) | 8 | ||||||
360 | Caraco Pharmaceutical Laboratories, Inc. (a) | 2 | ||||||
1,100 | Corcept Therapeutics, Inc. (a) | 4 | ||||||
500 | Cumberland Pharmaceuticals, Inc. (a) | 3 | ||||||
2,100 | Cypress Bioscience, Inc. (a) | 14 | ||||||
2,200 | DepoMed, Inc. (a) | 14 | ||||||
3,600 | Durect Corp. (a) | 12 | ||||||
800 | Eurand NV (a) | 9 | ||||||
469 | Hi-Tech Pharmacal Co., Inc. (a) | 12 | ||||||
2,700 | Impax Laboratories, Inc. (a) | 54 | ||||||
2,000 | Inovio Pharmaceuticals, Inc. (a) | 2 | ||||||
2,500 | Inspire Pharmaceuticals, Inc. (a) | 21 | ||||||
600 | Jazz Pharmaceuticals, Inc. (a) | 12 | ||||||
100 | Lannett Co, Inc. (a) | 1 | ||||||
700 | MAP Pharmaceuticals, Inc. (a) | 12 | ||||||
2,788 | Medicis Pharmaceutical Corp., Class – A | 75 | ||||||
3,882 | Nektar Therapeutics (a) | 50 | ||||||
1,100 | NeoStem, Inc. (a) | 2 | ||||||
700 | Obagi Medical Products, Inc. (a) | 8 | ||||||
1,400 | Optimer Pharmaceuticals, Inc. (a) | 16 | ||||||
1,500 | Pain Therapeutics, Inc. (a) | 10 | ||||||
1,563 | Par Pharmaceutical Cos., Inc. (a) | 60 | ||||||
1,100 | POZEN, Inc. (a) | 7 | ||||||
2,300 | Questcor Pharmaceuticals, Inc. (a) | 34 | ||||||
2,300 | Salix Pharmaceuticals Ltd. (a) | 108 | ||||||
2,200 | Santarus, Inc. (a) | 7 | ||||||
1,200 | Somaxon Pharmaceuticals, Inc. (a) | 4 |
See accompanying notes to financial statements
65
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Pharmaceuticals (continued) |
| |||||||
1,215 | SuperGen, Inc. (a) | $ | 3 | |||||
2,092 | The Medicines Co. (a) | 30 | ||||||
3,521 | ViroPharma, Inc. (a) | 61 | ||||||
3,400 | VIVUS, Inc. (a) | 32 | ||||||
1,100 | Xenoport, Inc. (a) | 9 | ||||||
810 | ||||||||
Photographic Products — 0.04% |
| |||||||
11,200 | Eastman Kodak Co. (a) | 60 | ||||||
Precious Metals & Minerals — 0.20% |
| |||||||
4,045 | Coeur d’Alene Mines Corp. (a) | 111 | ||||||
11,577 | Hecla Mining Co. (a) | 130 | ||||||
1,800 | Stillwater Mining Co. (a) | 38 | ||||||
279 | ||||||||
Property & Casualty Insurance — 0.51% |
| |||||||
442 | American Safety Insurance Holdings Ltd. (a) | 9 | ||||||
819 | Amerisafe, Inc. (a) | 14 | ||||||
979 | AmTrust Financial Services, Inc. | 17 | ||||||
1,471 | Argo Group International Holdings Ltd. | 55 | ||||||
408 | Baldwin & Lyons, Inc., Class – B | 10 | ||||||
686 | CNA Surety Corp. (a) | 16 | ||||||
605 | Donegal Group, Inc., Class – A | 9 | ||||||
281 | EMC Insurance Group, Inc. | 6 | ||||||
1,924 | Employers Holdings, Inc. | 34 | ||||||
4,794 | First American Financial Corp. | 72 | ||||||
445 | First Mercury Financial Corp. | 7 | ||||||
388 | FPIC Insurance Group, Inc. (a) | 14 | ||||||
499 | Global Indemnity PLC (a) | 10 | ||||||
485 | Hallmark Financial Services, Inc. (a) | 4 | ||||||
591 | Harleysville Group, Inc. | 22 | ||||||
1,773 | Hilltop Holdings, Inc. (a) | 18 | ||||||
606 | Infinity Property & Casualty Corp. | 37 | ||||||
2,438 | Meadowbrook Insurance Group, Inc. | 25 | ||||||
358 | National Interstate Corp. | 8 | ||||||
1,378 | ProAssurance Corp. (a) | 84 | ||||||
835 | RLI Corp. | 44 | ||||||
606 | Safety Insurance Group, Inc. | 29 | ||||||
1,096 | SeaBright Insurance Holdings, Inc. | 10 | ||||||
2,360 | Selective Insurance Group, Inc. | 43 | ||||||
730 | State Auto Financial Corp. | 13 | ||||||
771 | Stewart Information Services Corp. | 9 | ||||||
586 | The Navigators Group, Inc. (a) | 29 | ||||||
1,648 | Tower Group, Inc. | 42 | ||||||
1,061 | United Fire & Casualty Co. | 24 | ||||||
282 | Universal Insurance Holdings, Inc. | 1 | ||||||
715 | ||||||||
Publishing — 0.14% |
| |||||||
1,000 | AH Belo Corp., Class – A (a) | 9 | ||||||
2,400 | Dex One Corp. (a) | 18 |
Shares | Security Description | Value (000) | ||||||
Publishing (continued) |
| |||||||
1,643 | Journal Communications, Inc., | $ | 8 | |||||
1,900 | Lee Enterprises, Inc. (a) | 5 | ||||||
1,100 | Martha Stewart Living Omnimedia, Inc., Class – A (a) | 5 | ||||||
1,100 | Media General, Inc., Class – A (a) | 6 | ||||||
1,086 | PRIMEDIA, Inc. | 5 | ||||||
1,179 | Scholastic Corp. | 35 | ||||||
500 | SuperMedia, Inc. (a) | 4 | ||||||
1,520 | The E.W. Scripps Co., Class – A (a) | 15 | ||||||
2,500 | The McClatchy Co., Class – A (a) | 12 | ||||||
2,100 | Valassis Communications, Inc. (a) | 68 | ||||||
100 | Value Line, Inc. | 1 | ||||||
191 | ||||||||
Railroads — 0.07% |
| |||||||
1,600 | Genesee & Wyoming, Inc., Class – A (a) | 85 | ||||||
1,151 | RailAmerica, Inc. (a) | 15 | ||||||
100 | ||||||||
Real Estate Development — 0.03% |
| |||||||
411 | Avatar Holdings, Inc. (a) | 8 | ||||||
1,600 | Forestar Group, Inc. (a) | 31 | ||||||
39 | ||||||||
Real Estate Operating Companies — 0.01% |
| |||||||
700 | Hudson Pacific Properties, Inc. | 11 | ||||||
1,900 | Thomas Properties Group, Inc. (a) | 8 | ||||||
19 | ||||||||
Real Estate Services — 0.01% |
| |||||||
800 | Kennedy-Wilson Holdings, Inc. (a) | 8 | ||||||
Regional Banks — 2.18% |
| |||||||
769 | 1st Source Corp. | 16 | ||||||
1,100 | 1st United Bancorp, Inc. (a) | 8 | ||||||
241 | Alliance Financial Corp. | 8 | ||||||
286 | American National Bankshares, Inc. | 7 | ||||||
1,188 | Ameris Bancorp (a) | 12 | ||||||
401 | Ames National Corp. | 9 | ||||||
516 | Arrow Financial Corp. | 14 | ||||||
263 | BancFirst Corp. | 11 | ||||||
202 | Bancorp Rhode Island, Inc. | 6 | ||||||
280 | Bank of Marin Bancorp | 10 | ||||||
615 | Bank of the Ozarks, Inc. | 27 | ||||||
3,162 | Boston Private Financial Holdings, Inc. | 21 | ||||||
180 | Bridge Bancorp, Inc. | 4 | ||||||
323 | Bryn Mawr Bank Corp. | 6 | ||||||
370 | Camden National Corp. | 13 | ||||||
617 | Capital City Bank Group, Inc. | 8 | ||||||
1,444 | Cardinal Financial Corp. | 17 | ||||||
3,532 | Cathay General Bancorp | 59 | ||||||
1,800 | Center Financial Corp. (a) | 14 | ||||||
1,133 | Centerstate Banks, Inc. | 9 |
See accompanying notes to financial statements
66
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Regional Banks (continued) |
| |||||||
203 | Century Bancorp, Inc., Class – A | $ | 5 | |||||
1,035 | Chemical Financial Corp. | 23 | ||||||
522 | Citizens & Northern Corp. | 8 | ||||||
17,409 | Citizens Republic Bancorp, Inc. (a) | 11 | ||||||
658 | City Holding Co. | 24 | ||||||
540 | CNB Financial Corp. | 8 | ||||||
1,190 | CoBiz Financial, Inc. | 7 | ||||||
1,767 | Columbia Banking System, Inc. | 37 | ||||||
1,459 | Community Bank System, Inc. | 40 | ||||||
686 | Community Trust Bancorp, Inc. | 20 | ||||||
3,803 | CVB Financial Corp. | 33 | ||||||
777 | Eagle Bancorp, Inc. (a) | 11 | ||||||
824 | Enterprise Financial Services Corp. | 9 | ||||||
5,158 | F.N.B. Corp. | 51 | ||||||
413 | Financial Institutions, Inc. | 8 | ||||||
747 | First Bancorp North Carolina | 11 | ||||||
4,082 | First Bancorp Puerto Rico (a) | 2 | ||||||
487 | First Bancorp, Inc. Maine | 8 | ||||||
2,467 | First Busey Corp. | 12 | ||||||
4,940 | First Commonwealth Financial Corp. | 35 | ||||||
735 | First Community Bancshares, Inc. | 11 | ||||||
2,453 | First Financial Bancorp | 45 | ||||||
950 | First Financial Bankshares, Inc. | 49 | ||||||
482 | First Financial Corp. | 17 | ||||||
600 | First Interstate BancSystem, Inc. | 9 | ||||||
1,295 | First Merchants Corp. | 11 | ||||||
3,483 | First Midwest Bancorp, Inc. | 40 | ||||||
479 | First South Bancorp, Inc. | 3 | ||||||
4,923 | FirstMerit Corp. | 97 | ||||||
568 | German American Bancorp, Inc. | 10 | ||||||
3,380 | Glacier Bancorp, Inc. | 51 | ||||||
367 | Great Southern Bancorp, Inc. | 9 | ||||||
600 | Green Bankshares, Inc. (a) | 2 | ||||||
1,404 | Hancock Holding Co. | 49 | ||||||
2,900 | Hanmi Financial Corp. (a) | 3 | ||||||
666 | Heartland Financial USA, Inc. | 12 | ||||||
488 | Heritage Financial Corp. (a) | 7 | ||||||
524 | Home Bancorp, Inc. (a) | 7 | ||||||
1,095 | Home Bancshares, Inc. | 24 | ||||||
660 | Hudson Valley Holding Corp. | 16 | ||||||
1,232 | IBERIABANK Corp. | 73 | ||||||
891 | Independent Bank Corp. | 24 | ||||||
2,407 | International Bancshares Corp. | 48 | ||||||
2,306 | Investors Bancorp, Inc. (a) | 30 | ||||||
1,034 | Lakeland Bancorp, Inc. | 11 | ||||||
652 | Lakeland Financial Corp. | 14 | ||||||
688 | MainSource Financial Group, Inc. | 7 | ||||||
2,268 | MB Financial, Inc. | 39 | ||||||
277 | Merchants Bancshares, Inc. | 8 |
Shares | Security Description | Value (000) | ||||||
Regional Banks (continued) |
| |||||||
408 | Metro Bancorp, Inc. (a) | $ | 4 | |||||
284 | MidSouth Bancorp, Inc. | 4 | ||||||
400 | MidWestOne Financial Group, Inc. | 6 | ||||||
1,897 | Nara Bancorp, Inc. (a) | 19 | ||||||
327 | National Bankshares, Inc. | 10 | ||||||
5,807 | National Penn Bancshares, Inc. | 47 | ||||||
1,620 | NBT Bancorp, Inc. | 39 | ||||||
977 | Northfield Bancorp, Inc. | 13 | ||||||
3,961 | Old National Bancorp | 47 | ||||||
500 | OmniAmerican Bancorp, Inc. (a) | 7 | ||||||
1,900 | Oriental Financial Group, Inc. | 24 | ||||||
361 | Orrstown Financial Services, Inc. | 10 | ||||||
935 | Pacific Continental Corp. | 9 | ||||||
1,499 | PacWest Bancorp | 32 | ||||||
528 | Park National Corp. | 38 | ||||||
412 | Peapack-Gladstone Financial Corp. | 5 | ||||||
80 | Penns Woods Bancorp, Inc. | 3 | ||||||
417 | Peoples Bancorp, Inc. | 6 | ||||||
1,523 | Pinnacle Financial Partners, Inc. (a) | 21 | ||||||
175 | Porter Bancorp, Inc. | 2 | ||||||
2,228 | PrivateBancorp, Inc. | 32 | ||||||
2,117 | Prosperity Bancshares, Inc. | 83 | ||||||
1,233 | Renasant Corp. | 21 | ||||||
516 | Republic Bancorp, Inc., Class – A | 12 | ||||||
1,224 | S&T Bancorp, Inc. | 28 | ||||||
630 | S.Y. Bancorp, Inc. | 15 | ||||||
1,132 | Sandy Spring Bancorp, Inc. | 21 | ||||||
542 | SCBT Financial Corp. | 18 | ||||||
407 | Sierra Bancorp | 4 | ||||||
1,700 | Signature Bank (a) | 85 | ||||||
782 | Simmons First National Corp., Class – A | 22 | ||||||
756 | Southside Bancshares, Inc. | 16 | ||||||
826 | Southwest Bancorp, Inc. (a) | 10 | ||||||
840 | State Bancorp, Inc. | 8 | ||||||
1,139 | StellarOne Corp. | 17 | ||||||
1,050 | Sterling Bancorp | 11 | ||||||
3,972 | Sterling Bancshares, Inc. | 28 | ||||||
461 | Suffolk Bancorp | 11 | ||||||
5,933 | Susquehanna Bancshares, Inc. | 57 | ||||||
1,877 | SVB Financial Group (a) | 100 | ||||||
500 | Taylor Capital Group, Inc. (a) | 7 | ||||||
1,547 | Texas Capital Bancshares, Inc. (a) | 33 | ||||||
702 | The Bancorp, Inc. (a) | 7 | ||||||
240 | The First of Long Island Corp. | 7 | ||||||
420 | Tompkins Financial Corp. | 16 | ||||||
206 | Tower Bancorp, Inc. | 5 | ||||||
1,057 | TowneBank | 17 | ||||||
554 | TriCo Bancshares | 9 | ||||||
2,939 | Trustmark Corp. | 73 | ||||||
1,507 | UMB Financial Corp. | 62 | ||||||
5,271 | Umpqua Holdings Corp. | 64 |
See accompanying notes to financial statements
67
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Regional Banks (continued) |
| |||||||
868 | Union First Market Bankshares Corp. | $ | 13 | |||||
1,685 | United Bankshares, Inc. | 49 | ||||||
4,653 | United Community Banks, Inc. (a) | 9 | ||||||
663 | Univest Corp. of Pennsylvania | 13 | ||||||
1,100 | Virginia Commerce Bancorp, Inc. (a) | 7 | ||||||
786 | Washington Banking Co. | 11 | ||||||
714 | Washington Trust Bancorp, Inc. | 16 | ||||||
2,878 | Webster Financial Corp. | 57 | ||||||
966 | WesBanco, Inc. | 18 | ||||||
888 | West Bancorp | 7 | ||||||
4,800 | West Coast Bancorp (a) | 14 | ||||||
1,252 | Westamerica Bancorp | 69 | ||||||
2,894 | Western Alliance Bancorp (a) | 21 | ||||||
4,223 | Whitney Holding Corp. | 60 | ||||||
897 | Wilshire Bancorp, Inc. | 7 | ||||||
1,417 | Wintrust Financial Corp. | 47 | ||||||
3,031 | ||||||||
Reinsurance — 0.25% |
| |||||||
4,406 | Alterra Capital Holdings Ltd. | 95 | ||||||
328 | Enstar Group Ltd. (a) | 28 | ||||||
2,577 | Flagstone Reinsurance Holdings SA | 32 | ||||||
80 | Gerova Financial Group Ltd. (a) | 2 | ||||||
1,233 | Greenlight Capital Re Ltd., Class – A (a) | 33 | ||||||
2,126 | Maiden Holdings Ltd. | 17 | ||||||
2,955 | Montpelier Re Holdings Ltd. | 59 | ||||||
1,819 | Platinum Underwriters Holdings Ltd. | 82 | ||||||
348 | ||||||||
Research and Consulting Services — 0.27% |
| |||||||
1,400 | Acacia Research Corp./Acacia Technologies LLC (a) | 36 | ||||||
2,100 | CBIZ, Inc. (a) | 13 | ||||||
800 | CoStar Group, Inc. (a) | 46 | ||||||
580 | CRA International, Inc. (a) | 14 | ||||||
500 | Exponent, Inc. (a) | 19 | ||||||
500 | Franklin Covey Co. (a) | 4 | ||||||
1,461 | Hill International, Inc. (a) | 9 | ||||||
890 | Huron Consulting Group, Inc. (a) | 23 | ||||||
800 | ICF International, Inc. (a) | 21 | ||||||
1,300 | LECG Corp. (a) | 2 | ||||||
600 | Mistras Group, Inc. (a) | 8 | ||||||
2,400 | Navigant Consulting, Inc. (a) | 22 | ||||||
1,900 | Resources Connection, Inc. | 35 | ||||||
929 | School Specialty, Inc. (a) | 13 | ||||||
600 | The Advisory Board Co. (a) | 29 | ||||||
1,400 | The Corporate Executive Board Co. | 53 | ||||||
1,400 | The Dolan Co. (a) | 19 | ||||||
141 | VSE Corp. | 5 | ||||||
371 | ||||||||
Shares | Security Description | Value (000) | ||||||
Residential REITs — 0.35% |
| |||||||
2,929 | American Campus Communities, Inc. | $ | 93 | |||||
1,577 | Associated Estates Realty Corp. | 24 | ||||||
2,371 | Education Realty Trust, Inc. | 18 | ||||||
1,097 | Equity Lifestyle Properties, Inc. | 61 | ||||||
1,617 | Home Properties, Inc. | 90 | ||||||
1,383 | Mid-America Apartment Communities, Inc. | 88 | ||||||
2,231 | Post Properties, Inc. | 81 | ||||||
896 | Sun Communities, Inc. | 30 | ||||||
364 | UMH Properties, Inc. | 4 | ||||||
489 | ||||||||
Restaurants — 0.52% |
| |||||||
1,185 | AFC Enterprises, Inc. (a) | 16 | ||||||
60 | Biglari Holdings, Inc. (a) | 25 | ||||||
900 | BJ’s Restaurant, Inc. (a) | 32 | ||||||
1,352 | Bob Evans Farms, Inc. | 45 | ||||||
300 | Bravo Brio Restaurant Group, Inc. (a) | 6 | ||||||
700 | Buffalo Wild Wings, Inc. (a) | 31 | ||||||
800 | California Pizza Kitchen, Inc. (a) | 14 | ||||||
300 | Caribou Coffee Co., Inc. (a) | 3 | ||||||
500 | Carrols Restaurant Group, Inc. (a) | 4 | ||||||
800 | CEC Entertainment, Inc. (a) | 31 | ||||||
974 | Cracker Barrel Old Country Store, Inc. | 53 | ||||||
4,100 | Denny’s Corp. (a) | 15 | ||||||
755 | DineEquity, Inc. (a) | 37 | ||||||
1,797 | Domino’s Pizza, Inc. (a) | 29 | ||||||
200 | Einstein Noah Restaurant Group, Inc. (a) | 3 | ||||||
2,300 | Jack in the Box, Inc. (a) | 49 | ||||||
2,500 | Jamba, Inc. (a) | 6 | ||||||
2,400 | Krispy Kreme Doughnuts, Inc. (a) | 17 | ||||||
371 | McCormick & Schmick’s Seafood Restaurants, Inc. (a) | 3 | ||||||
816 | O’Charley’s, Inc. (a) | 6 | ||||||
1,000 | P.F. Chang’s China Bistro, Inc. | 48 | ||||||
942 | Papa John’s International, Inc. (a) | 26 | ||||||
500 | Peet’s Coffee & Tea, Inc. (a) | 21 | ||||||
617 | Red Robin Gourmet Burgers, Inc. (a) | 13 | ||||||
2,871 | Ruby Tuesday, Inc. (a) | 37 | ||||||
1,200 | Ruth’s Hospitality Group, Inc. (a) | 5 | ||||||
2,500 | Sonic Corp. (a) | 25 | ||||||
2,350 | Texas Roadhouse, Inc. (a) | 40 | ||||||
2,500 | The Cheesecake Factory, Inc. (a) | 77 | ||||||
717 | ||||||||
Retail REITs — 0.46% |
| |||||||
1,688 | Acadia Realty Trust | 31 | ||||||
401 | Agree Realty Corp. | 10 | ||||||
87 | Alexander’s, Inc. | 36 | ||||||
6,370 | CBL & Associates Properties, Inc. | 111 | ||||||
2,698 | Cedar Shopping Centers, Inc. | 17 | ||||||
1,734 | Equity One, Inc. | 31 |
See accompanying notes to financial statements
68
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Retail REITs (continued) |
| |||||||
948 | Getty Realty Corp. | $ | 30 | |||||
3,991 | Glimcher Realty Trust | 34 | ||||||
3,268 | Inland Real Estate Corp. | 29 | ||||||
2,333 | Kite Realty Group Trust | 13 | ||||||
3,846 | National Retail Properties, Inc. | 102 | ||||||
2,698 | Pennsylvania Real Estate Investment Trust | 39 | ||||||
1,912 | Ramco-Gershenson Properties Trust | 24 | ||||||
322 | Saul Centers, Inc. | 15 | ||||||
1,839 | Tanger Factory Outlet Centers, Inc. | 94 | ||||||
996 | Urstadt Biddle Properties, Inc., Class – A | 19 | ||||||
635 | ||||||||
Security & Alarm Services — 0.12% |
| |||||||
883 | GeoEye, Inc. (a) | 37 | ||||||
2,100 | The Brink’s Co. | 57 | ||||||
2,742 | The Geo Group, Inc. (a) | 68 | ||||||
162 | ||||||||
Semiconductor Equipment — 0.52% |
| |||||||
1,609 | Advanced Energy Industries, Inc. (a) | 22 | ||||||
4,400 | Amkor Technology, Inc. (a) | 32 | ||||||
1,584 | ATMI, Inc. (a) | 32 | ||||||
5,300 | Axcelis Technologies, Inc. (a) | 18 | ||||||
1,500 | AXT, Inc. (a) | 16 | ||||||
2,948 | Brooks Automation, Inc. (a) | 27 | ||||||
1,051 | Cabot Microelectronics Corp. (a) | 44 | ||||||
1,161 | Cohu, Inc. | 19 | ||||||
1,314 | Cymer, Inc. (a) | 59 | ||||||
6,020 | Entegris, Inc. (a) | 45 | ||||||
1,761 | FEI Co. (a) | 46 | ||||||
2,462 | FormFactor, Inc. (a) | 22 | ||||||
1,600 | FSI International, Inc. (a) | 7 | ||||||
2,600 | GT Solar International, Inc. (a) | 24 | ||||||
1,000 | Integrated Silicon Solution, Inc. (a) | 8 | ||||||
2,900 | Kulicke & Soffa Industries, Inc. (a) | 21 | ||||||
2,000 | LTX-Credence Corp. (a) | 15 | ||||||
2,100 | Mattson Technology, Inc. (a) | 6 | ||||||
2,335 | MKS Instruments, Inc. (a) | 57 | ||||||
700 | Nanometrics, Inc. (a) | 9 | ||||||
900 | PDF Solutions, Inc. (a) | 4 | ||||||
2,287 | Photronics, Inc. (a) | 14 | ||||||
700 | Rubicon Technology, Inc. (a) | 15 | ||||||
1,305 | Rudolph Technologies, Inc. (a) | 11 | ||||||
2,049 | Tessera Technologies, Inc. (a) | 45 | ||||||
900 | Ultra Clean Holdings, Inc. (a) | 8 | ||||||
1,100 | Ultratech, Inc. (a) | 22 | ||||||
1,700 | Veeco Instruments, Inc. (a) | 73 | ||||||
721 | ||||||||
Shares | Security Description | Value (000) | ||||||
Semiconductors — 0.88% |
| |||||||
2,200 | Advanced Analogic Technologies, Inc. (a) | $ | 9 | |||||
2,726 | ANADIGICS, Inc. (a) | 19 | ||||||
2,700 | Applied Micro Circuits Corp. (a) | 29 | ||||||
1,800 | Cavium Networks, Inc. (a) | 68 | ||||||
961 | CEVA, Inc. (a) | 20 | ||||||
2,900 | Cirrus Logic, Inc. (a) | 46 | ||||||
3,400 | Conexant Systems, Inc. (a) | 5 | ||||||
1,400 | Diodes, Inc. (a) | 38 | ||||||
892 | DSP Group, Inc. (a) | 7 | ||||||
2,700 | Entropic Communications, Inc. (a) | 33 | ||||||
1,833 | Exar Corp. (a) | 13 | ||||||
846 | GSI Technology, Inc. (a) | 7 | ||||||
1,151 | Hittite Microwave Corp. (a) | 70 | ||||||
200 | Inphi Corp. (a) | 4 | ||||||
7,000 | Integrated Device Technology, Inc. (a) | 47 | ||||||
843 | IXYS Corp. (a) | 10 | ||||||
3,200 | Kopin Corp. (a) | 13 | ||||||
4,800 | Lattice Semiconductor Corp. (a) | 29 | ||||||
300 | MaxLinear, Inc., Class – A (a) | 3 | ||||||
2,100 | Micrel, Inc. | 27 | ||||||
3,570 | Microsemi Corp. (a) | 82 | ||||||
1,300 | Mindspeed Technologies, Inc. (a) | 8 | ||||||
2,100 | MIPS Technologies, Inc. (a) | 32 | ||||||
1,300 | Monolithic Power Systems, Inc. (a) | 21 | ||||||
1,100 | MoSys, Inc. (a) | 6 | ||||||
2,600 | NetLogic Microsystems, Inc. (a) | 82 | ||||||
200 | NVE Corp. (a) | 12 | ||||||
2,354 | OmniVision Technologies, Inc. (a) | 70 | ||||||
973 | Pericom Semiconductor Corp. (a) | 11 | ||||||
1,500 | PLX Technology, Inc. (a) | 5 | ||||||
1,000 | Power Integrations, Inc. | 40 | ||||||
11,200 | RF Micro Devices, Inc. (a) | 82 | ||||||
2,600 | Semtech Corp. (a) | 59 | ||||||
1,505 | Sigma Designs, Inc. (a) | 21 | ||||||
3,452 | Silicon Image, Inc. (a) | 25 | ||||||
500 | Spansion, Inc., Class – A (a) | 10 | ||||||
963 | Standard Microsystems Corp. (a) | 28 | ||||||
400 | Supertex, Inc. (a) | 10 | ||||||
3,240 | Trident Microsystems, Inc. (a) | 6 | ||||||
6,413 | TriQuint Semiconductor, Inc. (a) | 75 | ||||||
1,000 | Volterra Semiconductor Corp. (a) | 23 | ||||||
2,529 | Zoran Corp. (a) | 22 | ||||||
1,227 | ||||||||
Soft Drinks — 0.03% |
| |||||||
200 | Coca-Cola Bottling Co. Consolidated | 11 | ||||||
3,700 | Heckmann Corp. (a) | 19 | ||||||
500 | National Beverage Corp. | 6 | ||||||
200 | Primo Water Corp. (a) | 3 | ||||||
39 | ||||||||
See accompanying notes to financial statements
69
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Specialized Consumer Services — 0.26% |
| |||||||
1,300 | Coinstar, Inc. (a) | $ | 73 | |||||
200 | CPI Corp. | 5 | ||||||
526 | Mac-Gray Corp. | 8 | ||||||
1,200 | Matthews International Corp., Class – A | 42 | ||||||
300 | Pre-Paid Legal Services, Inc. (a) | 18 | ||||||
2,604 | Regis Corp. | 43 | ||||||
2,800 | Sotheby’s | 126 | ||||||
600 | Steiner Leisure Ltd. (a) | 28 | ||||||
3,567 | Stewart Enterprises, Inc., Class – A | 24 | ||||||
367 | ||||||||
Specialized Finance — 0.17% |
| |||||||
525 | Asset Acceptance Capital Corp. (a) | 3 | ||||||
600 | ASTA Funding, Inc. | 5 | ||||||
121 | California First National Bancorp | 2 | ||||||
687 | Encore Capital Group, Inc. (a) | 16 | ||||||
2,653 | Fifth Street Finance Corp. | 32 | ||||||
300 | Life Partners Holdings, Inc. | 6 | ||||||
1,100 | MarketAxess Holdings, Inc. | 23 | ||||||
500 | Marlin Business Services Corp. (a) | 6 | ||||||
847 | Medallion Financial Corp. | 7 | ||||||
1,387 | NewStar Financial, Inc. (a) | 15 | ||||||
2,419 | PHH Corp. (a) | 56 | ||||||
700 | Portfolio Recovery Associates, Inc. (a) | 53 | ||||||
1,046 | Primus Guaranty Ltd. (a) | 5 | ||||||
500 | THL Credit, Inc. | 6 | ||||||
235 | ||||||||
Specialized REITs — 0.76% |
| |||||||
1,717 | Ashford Hospitality Trust (a) | 17 | ||||||
500 | Chatham Lodging Trust | 9 | ||||||
600 | Chesapeake Lodging Trust | 11 | ||||||
2,120 | Cogdell Spencer, Inc. | 12 | ||||||
7,048 | DiamondRock Hospitality Co. (a) | 85 | ||||||
2,139 | Entertainment Properties Trust | 99 | ||||||
4,058 | Extra Space Storage, Inc. | 71 | ||||||
4,434 | FelCor Lodging Trust, Inc. (a) | 31 | ||||||
2,875 | Healthcare Realty Trust, Inc. | 61 | ||||||
5,244 | Hersha Hospitality Trust | 35 | ||||||
3,222 | LaSalle Hotel Properties | 85 | ||||||
1,195 | LTC Properties, Inc. | 33 | ||||||
5,030 | Medical Properties Trust, Inc. | 54 | ||||||
1,098 | National Health Investors, Inc. | 49 | ||||||
4,412 | OMEGA Healthcare Investors, Inc. | 99 | ||||||
1,600 | Pebblebrook Hotel Trust | 32 | ||||||
1,739 | Potlatch Corp. | 57 | ||||||
1,188 | Sabra Health Care REIT, Inc. | 22 | ||||||
1,297 | Sovran Self Storage, Inc. | 48 | ||||||
6,789 | Strategic Hotels & Resorts, Inc. (a) | 36 | ||||||
5,286 | Sunstone Hotel Investors, Inc. (a) | 55 |
Shares | Security Description | Value (000) | ||||||
Specialized REITs (continued) |
| |||||||
4,044 | U-Store-It Trust | $ | 38 | |||||
482 | Universal Health Realty Income Trust | 18 | ||||||
1,057 | ||||||||
Specialty Chemicals — 0.57% |
| |||||||
1,550 | A. Schulman, Inc. | 35 | ||||||
1,071 | Arch Chemicals, Inc. | 41 | ||||||
1,200 | Balchem Corp. | 41 | ||||||
3,970 | Ferro Corp. (a) | 58 | ||||||
2,087 | H.B. Fuller Co. | 43 | ||||||
200 | KMG Chemicals, Inc. | 3 | ||||||
436 | Kraton Performance Polymers, Inc. (a) | 14 | ||||||
1,400 | Landec Corp. (a) | 8 | ||||||
885 | Minerals Technologies, Inc. | 58 | ||||||
1,387 | OM Group, Inc. (a) | 53 | ||||||
1,900 | Omnova Solutions, Inc. (a) | 16 | ||||||
4,099 | PolyOne Corp. (a) | 51 | ||||||
474 | Quaker Chemical Corp. | 20 | ||||||
2,255 | Rockwood Holdings, Inc. (a) | 88 | ||||||
1,600 | Senomyx, Inc. (a) | 11 | ||||||
2,256 | Sensient Technologies Corp. | 83 | ||||||
300 | Stepan Co. | 23 | ||||||
3,330 | W. R. Grace & Co. (a) | 117 | ||||||
900 | Zep, Inc. | 18 | ||||||
1,094 | Zoltek Cos., Inc. (a) | 13 | ||||||
794 | ||||||||
Specialty Stores — 0.30% |
| |||||||
1,900 | Barnes & Noble, Inc. | 27 | ||||||
900 | Big 5 Sporting Goods Corp. | 14 | ||||||
364 | Books-A-Million, Inc. | 2 | ||||||
2,860 | Borders Group, Inc. (a) | 3 | ||||||
971 | Build-A-Bear Workshop, Inc. (a) | 7 | ||||||
1,768 | Cabela’s, Inc. (a) | 38 | ||||||
798 | Conn’s, Inc. (a) | 4 | ||||||
1,200 | Hibbett Sports, Inc. (a) | 44 | ||||||
1,097 | Jo-Ann Stores, Inc. (a) | 66 | ||||||
1,200 | MarineMax, Inc. (a) | 11 | ||||||
3,624 | OfficeMax, Inc. (a) | 64 | ||||||
4,107 | Sally Beauty Holdings, Inc. (a) | 60 | ||||||
1,250 | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | 42 | ||||||
700 | Vitamin Shoppe, Inc. (a) | 24 | ||||||
520 | West Marine, Inc. (a) | 6 | ||||||
100 | Winmark Corp. | 3 | ||||||
415 | ||||||||
Steel — 0.08% |
| |||||||
638 | A.M. Castle & Co. (a) | 12 | ||||||
609 | Haynes International, Inc. | 25 | ||||||
500 | Metals USA Holdings Corp. (a) | 8 | ||||||
450 | Olympic Steel, Inc. | 13 | ||||||
328 | Universal Stainless & Alloy Products, Inc. (a) | 10 |
See accompanying notes to financial statements
70
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Steel (continued) |
| |||||||
2,288 | Worthington Industries, Inc. | $ | 42 | |||||
110 | ||||||||
Systems Software — 0.33% |
| |||||||
2,527 | Accelrys, Inc. (a) | 21 | ||||||
1,900 | Actuate Corp. (a) | 11 | ||||||
3,700 | Ariba, Inc. (a) | 87 | ||||||
1,800 | CommVault Systems, Inc. (a) | 52 | ||||||
800 | DemandTec, Inc. (a) | 9 | ||||||
1,700 | Fortinet, Inc. (a) | 55 | ||||||
750 | NetSuite, Inc. (a) | 19 | ||||||
600 | OPNET Technologies, Inc. | 16 | ||||||
1,700 | Progress Software Corp. (a) | 72 | ||||||
400 | QLIK Technologies, Inc. (a) | 10 | ||||||
500 | RealPage, Inc. (a) | 15 | ||||||
1,100 | Sourcefire, Inc. (a) | 29 | ||||||
2,200 | TeleCommunication Systems, Inc., | 10 | ||||||
3,300 | Wave Systems Corp., Class – A (a) | 13 | ||||||
1,800 | Websense, Inc. (a) | 36 | ||||||
455 | ||||||||
Technology Distributors — 0.10% |
| |||||||
756 | Agilysys, Inc. (a) | 4 | ||||||
898 | Electro Rent Corp. | 15 | ||||||
2,050 | Insight Enterprises, Inc. (a) | 27 | ||||||
524 | PC Connection, Inc. (a) | 5 | ||||||
800 | Richardson Electronics Ltd. | 9 | ||||||
1,204 | ScanSource, Inc. (a) | 38 | ||||||
1,111 | SYNNEX Corp. (a) | 35 | ||||||
133 | ||||||||
Textiles — 0.01% |
| |||||||
400 | Culp, Inc. (a) | 4 | ||||||
749 | Unifi, Inc. (a) | 13 | ||||||
17 | ||||||||
Thrifts & Mortgage Finance — 0.57% |
| |||||||
853 | Abington Bancorp, Inc. | 10 | ||||||
4,003 | Astoria Financial Corp. | 56 | ||||||
1,915 | Bank Mutual Corp. | 9 | ||||||
1,109 | BankFinancial Corp. | 11 | ||||||
1,643 | Beneficial Mutual Bancorp, Inc. (a) | 14 | ||||||
531 | Berkshire Hills Bancorp, Inc. | 12 | ||||||
400 | BofI Holding, Inc. (a) | 6 | ||||||
2,930 | Brookline Bancorp, Inc. | 32 | ||||||
485 | Clifton Savings Bancorp, Inc. | 5 | ||||||
829 | Danvers Bancorp, Inc. | 15 | ||||||
1,074 | Dime Community Bancshares | 16 | ||||||
326 | Doral Financial Corp. (a) | — | ||||||
516 | ESB Financial Corp. | 8 |
Shares | Security Description | Value (000) | ||||||
Thrifts & Mortgage Finance (continued) |
| |||||||
741 | ESSA Bancorp, Inc. | $ | 10 | |||||
500 | Federal Agricultural Mortgage Corp., | 8 | ||||||
606 | First Financial Holdings, Inc. | 7 | ||||||
2,386 | Flagstar Bancorp, Inc. (a) | 4 | ||||||
1,421 | Flushing Financial Corp. | 20 | ||||||
346 | Fox Chase Bancorp, Inc. (a) | 4 | ||||||
67 | Heritage Financial Group, Inc. | 1 | ||||||
865 | Home Federal Bancorp, Inc. | 11 | ||||||
174 | Kaiser Federal Financial Group, Inc. | 2 | ||||||
546 | Kearny Financial Corp. | 5 | ||||||
563 | Meridian Interstate Bancorp, Inc. (a) | 7 | ||||||
9,144 | MGIC Investment Corp. (a) | 93 | ||||||
205 | NASB Financial, Inc. | 3 | ||||||
5,006 | NewAlliance Bancshares, Inc. | 75 | ||||||
5,004 | Northwest Bancshares, Inc. | 59 | ||||||
536 | OceanFirst Financial Corp. | 7 | ||||||
3,677 | Ocwen Financial Corp. (a) | 35 | ||||||
2,481 | Oritani Financial Corp. | 30 | ||||||
2,663 | Provident Financial Services, Inc. | 40 | ||||||
1,904 | Provident New York Bancorp | 20 | ||||||
6,076 | Radian Group, Inc. | 49 | ||||||
489 | Rockville Financial, Inc. | 6 | ||||||
281 | Roma Financial Corp. | 3 | ||||||
565 | Territorial Bancorp, Inc. | 11 | ||||||
6,403 | The PMI Group, Inc. (a) | 21 | ||||||
3,833 | TrustCo Bank Corp. | 24 | ||||||
822 | United Financial Bancorp, Inc. | 13 | ||||||
760 | ViewPoint Financial Group, Inc. | 9 | ||||||
406 | Waterstone Financial, Inc. (a) | 1 | ||||||
1,157 | Westfield Financial, Inc. | 11 | ||||||
210 | WSFS Financial Corp. | 10 | ||||||
793 | ||||||||
Tires & Rubber — 0.04% |
| |||||||
2,500 | Cooper Tire & Rubber Co. | 59 | ||||||
Tobacco — 0.08% |
| |||||||
4,431 | Alliance One International, Inc. (a) | 19 | ||||||
4,000 | Star Scientific, Inc. (a) | 8 | ||||||
1,152 | Universal Corp. | 47 | ||||||
2,040 | Vector Group Ltd. | 35 | ||||||
109 | ||||||||
Trading Companies & Distributors — 0.34% |
| |||||||
869 | Aceto Corp. | 8 | ||||||
2,112 | Aircastle Ltd. | 22 | ||||||
1,700 | Applied Industrial Technologies, Inc. | 55 | ||||||
1,900 | Beacon Roofing Supply, Inc. (a) | 34 | ||||||
500 | BlueLinx Holdings, Inc. (a) | 2 | ||||||
300 | DXP Enterprises, Inc. (a) | 7 | ||||||
1,420 | H&E Equipment Services, Inc. (a) | 17 | ||||||
700 | Houston Wire & Cable Co. | 10 |
See accompanying notes to financial statements
71
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Trading Companies & Distributors (continued) |
| |||||||
1,531 | Interline Brands, Inc. (a) | $ | 35 | |||||
1,201 | Kaman Corp. | 35 | ||||||
240 | Lawson Products, Inc. | 6 | ||||||
2,500 | RSC Holdings, Inc. (a) | 24 | ||||||
1,349 | Rush Enterprises, Inc., Class – A (a) | 28 | ||||||
356 | SeaCube Container Leasing Ltd. | 5 | ||||||
806 | TAL International Group, Inc. | 25 | ||||||
400 | Textainer Group Holdings Ltd. | 11 | ||||||
641 | Titan Machinery, Inc. (a) | 12 | ||||||
2,688 | United Rentals, Inc. (a) | 61 | ||||||
1,100 | Watsco, Inc. | 69 | ||||||
466 | ||||||||
Trucking — 0.31% |
| |||||||
388 | AMERCO, Inc. (a) | 37 | ||||||
1,232 | Arkansas Best Corp. | 34 | ||||||
4,300 | Avis Budget Group, Inc. (a) | 67 | ||||||
743 | Celadon Group, Inc. (a) | 11 | ||||||
1,200 | Dollar Thrifty Automotive Group, Inc. (a) | 57 | ||||||
2,100 | Heartland Express, Inc. | 34 | ||||||
2,500 | Knight Transportation, Inc. | 47 | ||||||
800 | Marten Transport Ltd. | 17 | ||||||
1,710 | Old Dominion Freight Line, Inc. (a) | 55 | ||||||
300 | P.A.M. Transportation Services, Inc. (a) | 3 | ||||||
20 | Patriot Transportation Holding, Inc. (a) | 2 | ||||||
300 | Roadrunner Transportation Systems, Inc. (a) | 4 | ||||||
675 | Saia, Inc. (a) | 11 | ||||||
324 | Universal Truckload Services, Inc. (a) | 5 | ||||||
421 | USA Truck, Inc. (a) | 6 | ||||||
2,022 | Werner Enterprises, Inc. | 46 | ||||||
436 | ||||||||
Water Utilities — 0.09% |
| |||||||
876 | American States Water Co. | 30 | ||||||
365 | Artesian Resources Corp., Class – A | 7 | ||||||
500 | Cadiz, Inc. (a) | 6 | ||||||
935 | California Water Service Group | 35 | ||||||
285 | Connecticut Water Service, Inc. | 8 | ||||||
566 | Consolidated Water Co. Ltd. | 5 | ||||||
687 | Middlesex Water Co. | 13 | ||||||
524 | SJW Corp. | 14 | ||||||
404 | The York Water Co. | 7 | ||||||
125 | ||||||||
Wireless Telecommunication Services — 0.10% |
| |||||||
2,400 | FiberTower Corp. (a) | 11 | ||||||
4,100 | ICO Global Communications (Holdings) Ltd. (a) | 6 | ||||||
900 | Shenandoah Telecommunications Co. | 17 | ||||||
2,900 | Syniverse Holdings, Inc. (a) | 89 |
Shares or | Security Description | Value (000) | ||||||
Wireless Telecommunication Services (continued) |
| |||||||
100 | TESSCO Technologies, Inc. | $ | 2 | |||||
1,022 | USA Mobility, Inc. | 18 | ||||||
143 | ||||||||
Total SSgA Funds Management, Inc. | 51,255 | |||||||
Total Common Stocks | 137,401 | |||||||
Preferred Stocks — 0.04% |
| |||||||
Pzena Investment Management, LLC — 0.04% |
| |||||||
Home Furnishings — 0.04% |
| |||||||
606 | Sealy Corp. | 53 | ||||||
Total Preferred Stocks | 53 | |||||||
Corporate Bonds — 0.00% |
| |||||||
SSgA Funds Management, Inc. — 0.00% |
| |||||||
Asset Management & Custody Banks — 0.00% |
| |||||||
$ | 1 | GAMCO Investors, Inc., | 1 | |||||
Total Corporate Bonds | 1 | |||||||
U.S. Treasury Obligations — 0.01% |
| |||||||
SSgA Funds Management, Inc. — 0.01% |
| |||||||
10 | U.S. Treasury Bills, | 10 | ||||||
Total U.S. Treasury Obligations | 10 | |||||||
Time Deposits — 0.85% |
| |||||||
Frontier Capital Management Company, LLC — 0.58% |
| |||||||
802 | State Street Liquidity Management Control System Time Deposit, 0.01%, 1/3/11 | 802 | ||||||
IronBridge Capital Management LP — 0.27% |
| |||||||
381 | State Street Liquidity Management Control System Time Deposit, 0.01%, 1/3/11 | 381 | ||||||
Pzena Investment Management, LLC — 0.00% |
| |||||||
2 | State Street Liquidity Management Control System Time Deposit, 0.01%, 1/3/11 | 2 | ||||||
Total Time Deposits | 1,185 | |||||||
Mutual Funds — 0.01% |
| |||||||
SSgA Funds Management, Inc. — 0.01% |
| |||||||
200 | Alliance Money Market Fund Prime Portfolio, 0.16% (e) | — | ||||||
413 | Kayne Anderson Energy Development Fund | 8 | ||||||
Total Mutual Funds | 8 | |||||||
Total Investments | 138,658 | |||||||
Other assets in excess of | 274 | |||||||
Net Assets — 100.00% | $ | 138,932 | ||||||
See accompanying notes to financial statements
72
Table of Contents
HC CAPITAL TRUST
The Small Capitalization Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Represents non-income producing security. |
(b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(c) | All or part of this security has been pledged as collateral for futures contracts held by 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, 2010. |
REITs — Real Estate Investment Trusts
Futures
SSgA Funds Management, Inc.
Number of | Futures Contracts Positions | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
2 | Russell 2000 Mini Future | $ | 157 | Mar-11 | $ | 1 | ||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | 1 | ||||||||||||||
See accompanying notes to financial statements
73
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks — 98.77% |
| |||||||
Frontier Capital Management Company, LLC — 19.82% |
| |||||||
Aerospace & Defense — 0.45% |
| |||||||
5,716 | Goodrich Corp. | $ | 503 | |||||
16,387 | Orbital Sciences Corp. (a) | 281 | ||||||
30,403 | TASER International, Inc. (a) | 143 | ||||||
927 | ||||||||
Air Freight & Logistics — 0.18% |
| |||||||
10,448 | Hub Group, Inc., Class – A (a) | 367 | ||||||
Airlines — 0.32% |
| |||||||
2,900 | Alaska Air Group, Inc. (a) | 165 | ||||||
12,300 | AMR Corp. (a) | 96 | ||||||
27,400 | JetBlue Airways Corp. (a) | 181 | ||||||
9,000 | United Continental Holdings, Inc. (a) | 214 | ||||||
656 | ||||||||
Alternative Carriers — 0.14% |
| |||||||
42,628 | Premiere Global Services, Inc. (a) | 290 | ||||||
Apparel Retail — 0.23% |
| |||||||
39,635 | Chico’s FAS, Inc. | 477 | ||||||
Application Software — 0.66% |
| |||||||
23,352 | Amdocs Ltd. (a) | 641 | ||||||
6,710 | Manhattan Associates, Inc. (a) | 205 | ||||||
7,000 | Motricity, Inc. (a) | 130 | ||||||
16,000 | Sonic Solutions (a) | 240 | ||||||
17,045 | TiVo, Inc. (a) | 147 | ||||||
1,363 | ||||||||
Asset Management & Custody Banks — 0.18% |
| |||||||
10,593 | Waddell & Reed Financial, Inc., Class – A | 374 | ||||||
Auto Parts & Equipment — 0.43% |
| |||||||
5,404 | Autoliv, Inc. | 426 | ||||||
6,052 | Gentex Corp. | 179 | ||||||
4,775 | WABCO Holdings, Inc. (a) | 291 | ||||||
896 | ||||||||
Biotechnology — 0.17% |
| |||||||
8,843 | BioMarin Pharmaceutical, Inc. (a) | 238 | ||||||
26,727 | Nanosphere, Inc. (a) | 117 | ||||||
355 | ||||||||
Coal & Consumable Fuels — 0.26% |
| |||||||
6,548 | CONSOL Energy, Inc. | 319 | ||||||
4,053 | Massey Energy Co. | 218 | ||||||
537 | ||||||||
Commodity Chemicals — 0.05% |
| |||||||
12,700 | Zagg, Inc. (a) | 97 | ||||||
Communications Equipment — 0.31% |
| |||||||
5,194 | ADTRAN, Inc. | 188 | ||||||
8,050 | Anaren, Inc. (a) | 168 |
Shares | Security | Value (000) | ||||||
Communications Equipment (continued) |
| |||||||
16,956 | Arris Group, Inc. (a) | $ | 190 | |||||
5,083 | Ciena Corp. (a) | 107 | ||||||
653 | ||||||||
Computer Hardware — 0.27% |
| |||||||
18,788 | Avid Technology, Inc. (a) | 328 | ||||||
7,300 | Diebold, Inc. | 234 | ||||||
562 | ||||||||
Computer Storage & Peripherals — 0.19% |
| |||||||
11,896 | Western Digital Corp. (a) | 403 | ||||||
Construction & Engineering — 0.77% |
| |||||||
14,888 | Chicago Bridge & Iron Co. NV (a) | 490 | ||||||
5,755 | Fluor Corp. | 381 | ||||||
8,406 | Foster Wheeler AG (a) | 290 | ||||||
3,820 | Jacobs Engineering Group, Inc. (a) | 175 | ||||||
2,000 | MYR Group, Inc. (a) | 42 | ||||||
11,035 | Quanta Services, Inc. (a) | 220 | ||||||
1,598 | ||||||||
Construction & Farm Machinery & Heavy Trucks — 0.15% |
| |||||||
5,311 | Navistar International Corp. (a) | 308 | ||||||
Consumer Electronics — 0.21% |
| |||||||
9,534 | Harman International Industries, Inc. (a) | 441 | ||||||
Data Processing & Outsourced Services — 0.14% |
| |||||||
2,000 | Alliance Data Systems Corp. (a) | 142 | ||||||
3,133 | Global Payments, Inc. | 145 | ||||||
287 | ||||||||
Distributors — 0.05% |
| |||||||
4,436 | LKQ Corp. (a) | 101 | ||||||
Diversified Chemicals — 0.38% |
| |||||||
13,145 | Cabot Corp. | 495 | ||||||
3,703 | FMC Corp. | 296 | ||||||
791 | ||||||||
Diversified Metals & Mining — 0.16% |
| |||||||
5,071 | Brush Engineered Materials, Inc. (a) | 196 | ||||||
5,129 | RTI International Metals, Inc. (a) | 138 | ||||||
334 | ||||||||
Diversified Support Services — 0.06% |
| |||||||
5,110 | Ritchie Bros. Auctioneers, Inc. | 118 | ||||||
Electrical Components & Equipment — 0.59% |
| |||||||
5,076 | A.O. Smith Corp. | 193 | ||||||
17,477 | Belden, Inc. | 644 | ||||||
1,987 | Franklin Electric Co., Inc. | 77 | ||||||
3,696 | Hubbell, Inc., Class – B | 222 | ||||||
1,941 | Thomas & Betts Corp. (a) | 94 | ||||||
1,230 | ||||||||
See accompanying notes to financial statements
74
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Frontier Capital Management Company, LLC (continued) |
| |||||||
Electronic Components — 0.62% |
| |||||||
9,159 | DTS, Inc. (a) | $ | 449 | |||||
21,962 | Rogers Corp. (a) | 840 | ||||||
1,289 | ||||||||
Electronic Equipment & Instruments — 0.26% |
| |||||||
7,757 | Cognex Corp. | 228 | ||||||
3,596 | Itron, Inc. (a) | 200 | ||||||
3,000 | OSI Systems, Inc. (a) | 109 | ||||||
537 | ||||||||
Electronic Manufacturing Services — 0.30% |
| |||||||
45,895 | Flextronics International Ltd. (a) | 360 | ||||||
12,675 | Jabil Circuit, Inc. | 255 | ||||||
615 | ||||||||
Environmental & Facilities Services — 0.33% |
| |||||||
4,926 | Clean Harbors, Inc. (a) | 414 | ||||||
9,112 | Republic Services, Inc., Class – A | 272 | ||||||
686 | ||||||||
General Merchandise Stores — 0.19% |
| |||||||
7,031 | Dollar Tree, Inc. (a) | 394 | ||||||
Health Care Equipment — 1.00% |
| |||||||
3,800 | Beckman Coulter, Inc. | 286 | ||||||
3,800 | CONMED Corp. (a) | 101 | ||||||
55,761 | DexCom, Inc. (a) | 761 | ||||||
38,313 | Insulet Corp. (a) | 594 | ||||||
10,200 | MAKO Surgical Corp. (a) | 155 | ||||||
17,784 | Syneron Medical Ltd. (a) | 181 | ||||||
2,078 | ||||||||
Health Care Facilities — 0.08% |
| |||||||
6,700 | VCA Antech, Inc. (a) | 156 | ||||||
Health Care Services — 0.32% |
| |||||||
7,027 | Catalyst Health Solutions, Inc. (a) | 326 | ||||||
4,960 | Mednax, Inc. (a) | 334 | ||||||
660 | ||||||||
Health Care Supplies — 0.47% |
| |||||||
17,167 | The Cooper Cos., Inc. | 967 | ||||||
Industrial Conglomerates — 0.07% |
| |||||||
3,575 | Carlisle Cos., Inc. | 142 | ||||||
Industrial Machinery — 0.53% |
| |||||||
14,802 | Albany International Corp., Class – A | 351 | ||||||
5,088 | Kadant, Inc. (a) | 120 | ||||||
6,612 | Kaydon Corp. | 269 | ||||||
5,425 | Pall Corp. | 269 | ||||||
2,332 | Pentair, Inc. | 85 | ||||||
1,094 | ||||||||
Shares | Security | Value (000) | ||||||
Insurance Brokers — 0.16% |
| |||||||
9,589 | Willis Group Holdings PLC | $ | 332 | |||||
Integrated Oil & Gas — 0.17% |
| |||||||
4,837 | Interoil Corp. (a) | 349 | ||||||
Internet Software & Services — 0.78% |
| |||||||
27,034 | Cogent Communications Group, Inc. (a) | 382 | ||||||
5,080 | comScore, Inc. (a) | 113 | ||||||
7,700 | Constant Contact, Inc. (a) | 239 | ||||||
2,000 | Equinix, Inc. (a) | 163 | ||||||
13,900 | Monster Worldwide, Inc. (a) | 328 | ||||||
14,200 | QuinStreet, Inc. (a) | 273 | ||||||
3,500 | VeriSign, Inc. | 114 | ||||||
1,612 | ||||||||
Investment Banking & Brokerage — 0.19% |
| |||||||
17,981 | GFI Group, Inc. | 84 | ||||||
9,438 | Raymond James Financial, Inc. | 309 | ||||||
393 | ||||||||
Life Sciences Tools & Services — 0.42% |
| |||||||
2,100 | Complete Genomics, Inc. (a) | 16 | ||||||
6,952 | Illumina, Inc. (a) | 440 | ||||||
5,943 | Pharmaceutical Product Development, Inc. | 161 | ||||||
13,243 | QIAGEN NV (a) | 259 | ||||||
876 | ||||||||
Marine — 0.06% |
| |||||||
2,823 | Kirby Corp. (a) | 124 | ||||||
Metal & Glass Containers — 0.57% |
| |||||||
35,441 | Crown Holdings, Inc. (a) | 1,183 | ||||||
Mortgage REITs — 0.34% |
| |||||||
26,848 | Annaly Capital Management, Inc. | 481 | ||||||
54,850 | Chimera Investment Corp. | 226 | ||||||
707 | ||||||||
Oil & Gas Drilling — 0.12% |
| |||||||
7,030 | Noble Corp. | 251 | ||||||
Oil & Gas Equipment & Services — 0.45% |
| |||||||
3,402 | Core Laboratories NV | 303 | ||||||
6,991 | Dril-Quip, Inc. (a) | 543 | ||||||
8,500 | Willbros Group, Inc. (a) | 84 | ||||||
930 | ||||||||
Oil & Gas Exploration & Production — 0.37% |
| |||||||
6,593 | Cabot Oil & Gas Corp. | 250 | ||||||
5,404 | Continental Resources, Inc. (a) | 318 | ||||||
10,800 | Denbury Resources, Inc. (a) | 206 | ||||||
774 | ||||||||
Oil & Gas Refining & Marketing — 0.35% |
| |||||||
19,919 | Rex Energy Corp. (a) | 272 | ||||||
12,633 | World Fuel Services Corp. | 457 | ||||||
729 | ||||||||
See accompanying notes to financial statements
75
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Frontier Capital Management Company, LLC (continued) |
| |||||||
Packaged Foods & Meats — 0.07% |
| |||||||
7,141 | Smithfield Foods, Inc. (a) | $ | 147 | |||||
Paper Packaging — 0.10% |
| |||||||
7,897 | Packaging Corp. of America | 204 | ||||||
Paper Products — 0.08% |
| |||||||
8,369 | Neenah Paper, Inc. | 165 | ||||||
Pharmaceuticals — 0.08% |
| |||||||
2,751 | Perrigo Co. | 174 | ||||||
Precious Metals & Minerals — 0.09% |
| |||||||
17,019 | Hecla Mining Co. (a) | 192 | ||||||
Property & Casualty Insurance — 0.18% |
| |||||||
13,451 | W.R. Berkley Corp. | 368 | ||||||
Railroads — 0.14% |
| |||||||
5,888 | Kansas City Southern Industries, Inc. (a) | 282 | ||||||
Regional Banks — 0.32% |
| |||||||
92,264 | CapitalSource, Inc. | 655 | ||||||
Reinsurance — 0.15% |
| |||||||
3,714 | Everest Re Group Ltd. | 315 | ||||||
Restaurants — 0.06% |
| |||||||
4,216 | The Cheesecake Factory, Inc. (a) | 129 | ||||||
Semiconductor Equipment — 0.57% |
| |||||||
11,494 | ATMI, Inc. (a) | 229 | ||||||
6,353 | Cabot Microelectronics Corp. (a) | 263 | ||||||
8,936 | Cymer, Inc. (a) | 403 | ||||||
8,600 | MEMC Electronic Materials, Inc. (a) | 97 | ||||||
4,400 | Veeco Instruments, Inc. (a) | 189 | ||||||
1,181 | ||||||||
Semiconductors — 1.93% |
| |||||||
9,344 | Altera Corp. | 332 | ||||||
10,296 | Fairchild Semiconductor International, Inc. (a) | 161 | ||||||
33,949 | Integrated Device Technology, Inc. (a) | 226 | ||||||
14,628 | International Rectifier Corp. (a) | 434 | ||||||
14,452 | Maxim Integrated Products, Inc. | 341 | ||||||
11,966 | Microsemi Corp. (a) | 274 | ||||||
17,730 | Monolithic Power Systems, Inc. (a) | 293 | ||||||
11,165 | National Semiconductor Corp. | 154 | ||||||
5,100 | ON Semiconductor Corp. (a) | 50 | ||||||
23,816 | PMC-Sierra, Inc. (a) | 205 | ||||||
1,400 | Power Integrations, Inc. | 56 | ||||||
4,753 | Silicon Laboratories, Inc. (a) | 219 | ||||||
43,966 | Skyworks Solutions, Inc. (a) | 1,259 | ||||||
4,004 | ||||||||
Specialized Consumer Services — 0.21% |
| |||||||
9,851 | Sotheby’s | 443 | ||||||
Shares | Security | Value (000) | ||||||
Specialized Finance — 0.06% |
| |||||||
5,000 | Moody’s Corp. | $ | 133 | |||||
Specialty Chemicals — 0.24% |
| |||||||
8,802 | Albemarle Corp. | 491 | ||||||
Systems Software — 0.16% |
| |||||||
2,200 | Ariba, Inc. (a) | 52 | ||||||
4,584 | Rovi Corp. (a) | 284 | ||||||
336 | ||||||||
Trading Companies & Distributors — 0.18% |
| |||||||
6,012 | Watsco, Inc. | 379 | ||||||
Trucking — 0.13% | ||||||||
6,367 | Landstar System, Inc. | 261 | ||||||
Wireless Telecommunication Services — 0.57% |
| |||||||
24,296 | MetroPCS Communications, Inc. (a) | 307 | ||||||
11,127 | NII Holdings, Inc., Class – B (a) | 497 | ||||||
6,600 | SBA Communications Corp., Class – A (a) | 270 | ||||||
3,200 | Syniverse Holdings, Inc. (a) | 99 | ||||||
1,173 | ||||||||
Total Frontier Capital Management Company, LLC | 41,075 | |||||||
IronBridge Capital Management LP — 22.79% |
| |||||||
Aerospace & Defense — 1.00% |
| |||||||
9,538 | Esterline Technologies Corp. (a) | 654 | ||||||
11,997 | Moog, Inc., Class – A (a) | 477 | ||||||
22,695 | Orbital Sciences Corp. (a) | 389 | ||||||
6,082 | Triumph Group, Inc. | 544 | ||||||
2,064 | ||||||||
Agricultural Products — 0.24% |
| |||||||
10,679 | Corn Products International, Inc. | 491 | ||||||
Apparel Retail — 0.37% | ||||||||
12,617 | The Buckle, Inc. | 476 | ||||||
5,299 | Under Armour, Inc., Class – A (a) | 291 | ||||||
767 | ||||||||
Application Software — 0.62% |
| |||||||
9,764 | Informatica Corp. (a) | 430 | ||||||
12,683 | Jack Henry & Associates, Inc. | 370 | ||||||
21,700 | Parametric Technology Corp. (a) | 489 | ||||||
1,289 | ||||||||
Asset Management & Custody Banks — 0.16% |
| |||||||
9,588 | Waddell & Reed Financial, Inc., Class – A | 338 | ||||||
Auto Parts & Equipment — 0.12% |
| |||||||
16,107 | Modine Manufacturing Co. (a) | 250 | ||||||
Biotechnology — 0.13% |
| |||||||
12,286 | Cepheid, Inc. (a) | 280 | ||||||
Building Products — 0.28% |
| |||||||
10,736 | Apogee Enterprises, Inc. | 145 | ||||||
11,467 | Universal Forest Products, Inc. | 446 | ||||||
591 | ||||||||
See accompanying notes to financial statements
76
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
IronBridge Capital Management LP (continued) |
| |||||||
Casinos & Gaming — 0.22% |
| |||||||
9,869 | WMS Industries, Inc. (a) | $ | 446 | |||||
Commodity Chemicals — 0.33% |
| |||||||
12,928 | Methanex Corp. | 393 | ||||||
2,289 | NewMarket Corp. | 282 | ||||||
675 | ||||||||
Communications Equipment — 0.36% |
| |||||||
12,446 | Polycom, Inc. (a) | 485 | ||||||
7,260 | Riverbed Technology, Inc. (a) | 255 | ||||||
740 | ||||||||
Computer Storage & Peripherals — 0.25% |
| |||||||
17,528 | Synaptics, Inc. (a) | 515 | ||||||
Construction & Engineering — 0.39% |
| |||||||
12,369 | Insituform Technologies, Inc., Class – A (a) | 328 | ||||||
33,605 | MasTec, Inc. (a) | 490 | ||||||
818 | ||||||||
Construction & Farm Machinery & Heavy Trucks — 0.25% |
| |||||||
9,212 | Astec Industries, Inc. (a) | 299 | ||||||
11,356 | Westport Innovations, Inc. (a) | 210 | ||||||
509 | ||||||||
Diversified Chemicals — 0.47% |
| |||||||
10,627 | Cabot Corp. | 400 | ||||||
7,267 | FMC Corp. | 581 | ||||||
981 | ||||||||
Education Services — 0.27% | ||||||||
7,938 | K12, Inc. (a) | 227 | ||||||
2,147 | Strayer Education, Inc. | 327 | ||||||
554 | ||||||||
Electric Utilities — 0.12% | ||||||||
4,102 | ITC Holdings Corp. | 254 | ||||||
Electrical Components & Equipment — 0.76% |
| |||||||
9,232 | A.O. Smith Corp. | 351 | ||||||
6,316 | American Superconductor Corp. (a) | 181 | ||||||
13,387 | GrafTech International Ltd. (a) | 266 | ||||||
16,056 | Thomas & Betts Corp. (a) | 775 | ||||||
1,573 | ||||||||
Electronic Components — 0.11% |
| |||||||
4,886 | Littelfuse, Inc. | 230 | ||||||
Electronic Equipment & Instruments — 0.52% |
| |||||||
3,749 | Itron, Inc. (a) | 208 | ||||||
13,758 | National Instruments Corp. | 518 | ||||||
9,752 | Rofin-Sinar Technologies, Inc. (a) | 345 | ||||||
1,071 | ||||||||
Shares | Security | Value (000) | ||||||
Electronic Manufacturing Services — 0.38% |
| |||||||
48,260 | Celestica, Inc. (a) | $ | 468 | |||||
7,797 | Trimble Navigation Ltd. (a) | 311 | ||||||
779 | ||||||||
Environmental & Facilities Services — 0.17% |
| |||||||
13,828 | Tetra Tech, Inc. (a) | 347 | ||||||
Footwear — 0.59% |
| |||||||
11,690 | Deckers Outdoor Corp. (a) | 932 | ||||||
9,320 | Wolverine World Wide, Inc. | 297 | ||||||
1,229 | ||||||||
Gas Utilities — 0.31% |
| |||||||
20,065 | UGI Corp. | 634 | ||||||
General Merchandise Stores — 0.36% |
| |||||||
7,950 | Big Lots, Inc. (a) | 242 | ||||||
36,012 | Fred’s, Inc., Class – A | 496 | ||||||
738 | ||||||||
Health Care Distributors — 0.58% |
| |||||||
5,870 | MWI Veterinary Supply, Inc. (a) | 371 | ||||||
28,506 | Owens & Minor, Inc. | 839 | ||||||
1,210 | ||||||||
Health Care Equipment — 0.57% |
| |||||||
4,640 | Gen-Probe, Inc. (a) | 271 | ||||||
3,840 | IDEXX Laboratories, Inc. (a) | 266 | ||||||
6,160 | Sirona Dental Systems, Inc. (a) | 257 | ||||||
10,197 | Zoll Medical Corp. (a) | 380 | ||||||
1,174 | ||||||||
Health Care Facilities — 0.29% |
| |||||||
16,259 | LifePoint Hospitals, Inc. (a) | 598 | ||||||
Health Care Technology — 0.12% |
| |||||||
2,608 | Cerner Corp. (a) | 247 | ||||||
Homebuilding — 0.20% |
| |||||||
30,033 | KB Home | 405 | ||||||
Household Appliances — 0.14% |
| |||||||
5,154 | Snap-on, Inc. | 292 | ||||||
Housewares & Specialties — 0.23% |
| |||||||
10,156 | Tupperware Brands Corp. | 484 | ||||||
Hypermarkets & Super Centers — 0.24% |
| |||||||
10,600 | BJ’s Wholesale Club, Inc. (a) | 508 | ||||||
Industrial Machinery — 0.51% |
| |||||||
6,823 | IDEX Corp. | 267 | ||||||
6,997 | Kennametal, Inc. | 276 | ||||||
4,116 | Lincoln Electric Holdings, Inc. | 268 | ||||||
2,680 | Valmont Industries, Inc. | 238 | ||||||
1,049 | ||||||||
Investment Banking & Brokerage — 0.65% |
| |||||||
17,684 | Jefferies Group, Inc. | 471 | ||||||
21,987 | Knight Capital Group, Inc., Class – A (a) | 303 |
See accompanying notes to financial statements
77
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
IronBridge Capital Management LP (continued) |
| |||||||
Investment Banking & Brokerage (continued) |
| |||||||
9,137 | Stifel Financial Corp. (a) | $ | 567 | |||||
1,341 | ||||||||
IT Consulting & Other Services — 0.11% |
| |||||||
4,800 | Syntel, Inc. | 229 | ||||||
Leisure Products — 0.18% |
| |||||||
15,552 | Callaway Golf Co. | 125 | ||||||
46,037 | Leapfrog Enterprises, Inc. (a) | 256 | ||||||
381 | ||||||||
Life Sciences Tools & Services — 0.38% |
| |||||||
31,616 | Bruker Corp. (a) | 525 | ||||||
13,908 | Luminex Corp. (a) | 254 | ||||||
779 | ||||||||
Marine — 0.33% |
| |||||||
16,945 | Alexander & Baldwin, Inc. | 678 | ||||||
Metal & Glass Containers — 0.34% |
| |||||||
14,962 | AptarGroup, Inc. | 712 | ||||||
Mortgage REITs — 0.22% |
| |||||||
30,131 | Redwood Trust, Inc. | 450 | ||||||
Multi-line Insurance — 0.23% |
| |||||||
14,759 | American Financial Group, Inc. | 477 | ||||||
Multi-Sector Holdings — 0.09% |
| |||||||
5,950 | PICO Holdings, Inc. (a) | 189 | ||||||
Multi-Utilities — 0.20% |
| |||||||
13,952 | Black Hills Corp. | 419 | ||||||
Office REITs — 0.43% |
| |||||||
6,355 | Alexandria Real Estate Equities, Inc. | 465 | ||||||
12,013 | Corporate Office Properties | 420 | ||||||
885 | ||||||||
Oil & Gas Drilling — 0.40% |
| |||||||
9,798 | Atwood Oceanics, Inc. (a) | 366 | ||||||
10,194 | Unit Corp. (a) | 474 | ||||||
840 | ||||||||
Oil & Gas Equipment & Services — 0.28% |
| |||||||
13,040 | Superior Energy Services, Inc. (a) | 457 | ||||||
8,014 | Tesco Corp. (a) | 127 | ||||||
584 | ||||||||
Oil & Gas Exploration & Production — 0.42% |
| |||||||
6,239 | Bill Barrett Corp. (a) | 257 | ||||||
15,866 | Swift Energy Co. (a) | 621 | ||||||
878 | ||||||||
Oil & Gas Refining & Marketing — 0.15% |
| |||||||
8,710 | World Fuel Services Corp. | 315 | ||||||
Shares | Security | Value (000) | ||||||
Oil & Gas Storage & Transportation — 0.21% |
| |||||||
18,164 | Southern Union Co. | $ | 437 | |||||
Pharmaceuticals — 0.11% |
| |||||||
18,348 | Nektar Therapeutics (a) | 236 | ||||||
Property & Casualty Insurance — 0.76% |
| |||||||
2,830 | Alleghany Corp. (a) | 867 | ||||||
12,681 | Argo Group International Holdings Ltd. | 475 | ||||||
19,571 | Stewart Information Services Corp. | 226 | ||||||
1,568 | ||||||||
Regional Banks — 1.32% |
| |||||||
16,563 | Columbia Banking System, Inc. | 349 | ||||||
13,154 | Cullen/Frost Bankers, Inc. | 804 | ||||||
21,190 | First Midwest Bancorp, Inc. | 244 | ||||||
8,916 | IBERIABANK Corp. | 527 | ||||||
54,787 | National Penn Bancshares, Inc. | 440 | ||||||
25,484 | TCF Financial Corp. | 377 | ||||||
2,741 | ||||||||
Residential REITs — 0.41% |
| |||||||
13,270 | Mid-America Apartment Communities, Inc. | 843 | ||||||
Restaurants — 0.06% |
| |||||||
318 | Biglari Holdings, Inc. (a) | 130 | ||||||
Semiconductors — 1.44% |
| |||||||
27,331 | Cypress Semiconductor Corp. (a) | 508 | ||||||
2,001 | Hittite Microwave Corp. (a) | 122 | ||||||
8,161 | International Rectifier Corp. (a) | 242 | ||||||
16,240 | MIPS Technologies, Inc. (a) | 246 | ||||||
7,610 | OmniVision Technologies, Inc. (a) | 225 | ||||||
18,332 | Semtech Corp. (a) | 415 | ||||||
26,876 | Skyworks Solutions, Inc. (a) | 770 | ||||||
15,880 | Standard Microsystems Corp. (a) | 458 | ||||||
2,986 | ||||||||
Specialized Consumer Services — 0.20% |
| |||||||
7,238 | Coinstar, Inc. (a) | 409 | ||||||
Specialized Finance — 0.16% |
| |||||||
27,973 | Fifth Street Finance Corp. | 340 | ||||||
Specialized REITs — 0.16% |
| |||||||
9,961 | Potlatch Corp. | 324 | ||||||
Specialty Chemicals — 0.26% |
| |||||||
7,626 | Arch Chemicals, Inc. | 289 | ||||||
3,841 | Minerals Technologies, Inc. | 251 | ||||||
540 | ||||||||
Specialty Stores — 0.40% |
| |||||||
17,156 | Tractor Supply Co. | 832 | ||||||
Steel — 0.19% |
| |||||||
9,648 | Carpenter Technology Corp. | 388 | ||||||
See accompanying notes to financial statements
78
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
IronBridge Capital Management LP (continued) |
| |||||||
Systems Software — 0.27% |
| |||||||
13,367 | Progress Software Corp. (a) | $ | 566 | |||||
Technology Distributors — 0.30% |
| |||||||
11,806 | ScanSource, Inc. (a) | 376 | ||||||
7,976 | SYNNEX Corp. (a) | 249 | ||||||
625 | ||||||||
Thrifts & Mortgage Finance — 0.17% |
| |||||||
23,293 | Provident Financial Services, Inc. | 352 | ||||||
Trading Companies & Distributors — 0.30% |
| |||||||
10,998 | Applied Industrial Technologies, Inc. | 357 | ||||||
7,622 | GATX Corp. | 269 | ||||||
626 | ||||||||
Total IronBridge Capital Management LP | 47,230 | |||||||
Pzena Investment Management, LLC — 18.55% |
| |||||||
Advertising — 0.72% |
| |||||||
116,857 | Harte-Hanks, Inc. | 1,492 | ||||||
Aerospace & Defense — 0.48% |
| |||||||
29,825 | Curtiss-Wright Corp. | 990 | ||||||
Apparel, Accessories & Luxury Goods — 0.66% |
| |||||||
69,650 | The Jones Group, Inc. | 1,083 | ||||||
5,125 | UniFirst Corp. | 282 | ||||||
1,365 | ||||||||
Building Products — 0.49% |
| |||||||
53,700 | Griffon Corp. (a) | 684 | ||||||
23,800 | NCI Building Systems, Inc. (a) | 333 | ||||||
1,017 | ||||||||
Communications Equipment — 0.37% |
| |||||||
20,475 | Plantronics, Inc. | 762 | ||||||
Computer & Electronics Retail — 0.35% |
| |||||||
22,400 | Rent-A-Center, Inc. | 723 | ||||||
Construction & Engineering — 0.08% |
| |||||||
18,400 | Pike Electric Corp. (a) | 158 | ||||||
Data Processing & Outsourced Services — 0.23% |
| |||||||
31,350 | Heartland Payment Systems, Inc. | 483 | ||||||
Diversified Support Services — 0.51% |
| |||||||
41,800 | Viad Corp. | 1,065 | ||||||
Electric Utilities — 0.38% |
| |||||||
36,600 | Portland General Electric Co. | 794 | ||||||
Electrical Components & Equipment — 0.59% |
| |||||||
37,700 | Brady Corp., Class – A | 1,229 | ||||||
Electronic Equipment & Instruments — 0.54% |
| |||||||
30,000 | MTS Systems Corp. | 1,124 | ||||||
Shares | Security | Value (000) | ||||||
Health Care Equipment — 0.39% |
| |||||||
30,375 | CONMED Corp. (a) | $ | 803 | |||||
Health Care Services — 0.37% |
| |||||||
11,425 | MEDNAX, Inc. (a) | 769 | ||||||
Health Care Supplies — 0.46% |
| |||||||
47,650 | Immucor, Inc. (a) | 945 | ||||||
Home Furnishings — 0.49% |
| |||||||
345,925 | Sealy Corp. (a) | 1,010 | ||||||
Industrial Machinery — 1.38% |
| |||||||
46,750 | Blount International, Inc. (a) | 737 | ||||||
26,075 | CIRCOR International, Inc. | 1,102 | ||||||
22,200 | Graco, Inc. | 876 | ||||||
34,475 | Mueller Water Products, Inc., Class – A | 144 | ||||||
2,859 | ||||||||
Insurance Brokers — 0.42% |
| |||||||
29,925 | Arthur J. Gallagher & Co. | 870 | ||||||
Life & Health Insurance — 1.63% |
| |||||||
92,857 | American Equity Investment Life Holding Co. | 1,165 | ||||||
85,600 | CNO Financial Group, Inc. (a) | 581 | ||||||
35,100 | Delphi Financial Group, Inc., Class – A | 1,012 | ||||||
25,825 | Primerica, Inc. | 626 | ||||||
3,384 | ||||||||
Multi-Utilities — 0.44% |
| |||||||
70,400 | PNM Resources, Inc. | 917 | ||||||
Office Services & Supplies — 0.22% |
| |||||||
59,463 | American Reprographics Co. (a) | 451 | ||||||
Property & Casualty Insurance — 1.16% |
| |||||||
30,152 | Argo Group International Holdings Ltd. | 1,129 | ||||||
52,125 | First American Financial Corp. | 779 | ||||||
24,436 | Global Indemnity PLC (a) | 500 | ||||||
2,408 | ||||||||
Publishing — 0.39% |
| |||||||
24,700 | Valassis Communications, Inc. (a) | 799 | ||||||
Real Estate Operating Companies — 0.68% |
| |||||||
51,850 | MI Developments, Inc., Class – A | 1,405 | ||||||
Regional Banks — 1.69% |
| |||||||
15,461 | Chemical Financial Corp. | 342 | ||||||
103,827 | Nara Bancorp, Inc. (a) | 1,020 | ||||||
124,000 | National Penn Bancshares, Inc. | 996 | ||||||
58,550 | Webster Financial Corp. | 1,153 | ||||||
3,511 | ||||||||
Semiconductors — 0.80% |
| |||||||
28,000 | Diodes, Inc. (a) | 756 | ||||||
102,891 | Zoran Corp. (a) | 905 | ||||||
1,661 | ||||||||
See accompanying notes to financial statements
79
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Pzena Investment Management, LLC (continued) |
| |||||||
Specialized Finance — 0.50% |
| |||||||
45,100 | PHH Corp. (a) | $ | 1,044 | |||||
Specialized REITs — 0.57% |
| |||||||
98,500 | DiamondRock Hospitality Co. (a) | 1,182 | ||||||
Technology Distributors — 0.64% |
| |||||||
41,215 | Insight Enterprises, Inc. (a) | 543 | ||||||
17,700 | Tech Data Corp. (a) | 779 | ||||||
1,322 | ||||||||
Thrifts & Mortgage Finance — 0.30% |
| |||||||
12,975 | WSFS Financial Corp. | 616 | ||||||
Trucking — 0.62% |
| |||||||
35,050 | Con-way, Inc. | 1,282 | ||||||
Total Pzena Investment Management, LLC | 38,440 | |||||||
SSgA Funds Management, Inc. — 37.61% |
| |||||||
Advertising — 0.09% |
| |||||||
1,700 | Arbitron, Inc. | 70 | ||||||
2,500 | Harte-Hanks, Inc. | 32 | ||||||
3,400 | National CineMedia, Inc. | 68 | ||||||
300 | ReachLocal, Inc. (a) | 6 | ||||||
176 | ||||||||
Aerospace & Defense — 0.69% |
| |||||||
2,698 | AAR Corp. (a) | 74 | ||||||
1,100 | Aerovironment, Inc. (a) | 30 | ||||||
600 | American Science & Engineering, Inc. | 51 | ||||||
5,500 | Applied Energetics, Inc. (a) | 5 | ||||||
900 | Applied Signal Technology, Inc. | 34 | ||||||
732 | Astronics Corp. (a) | 15 | ||||||
1,713 | Ceradyne, Inc. (a) | 54 | ||||||
1,000 | Cubic Corp. | 47 | ||||||
3,242 | Curtiss-Wright Corp. | 108 | ||||||
1,700 | DigitalGlobe, Inc. (a) | 54 | ||||||
754 | Ducommun, Inc. | 16 | ||||||
2,083 | Esterline Technologies Corp. (a) | 143 | ||||||
3,800 | GenCorp, Inc. (a) | 20 | ||||||
100 | Global Defense Technology & Systems, Inc. (a) | 2 | ||||||
1,900 | HEICO Corp. | 97 | ||||||
926 | Herley Industries, Inc. (a) | 16 | ||||||
6,300 | Hexcel Corp. (a) | 114 | ||||||
1,100 | Kratos Defense & Security Solutions, Inc. (a) | 14 | ||||||
1,090 | Ladish Co., Inc. (a) | 53 | ||||||
645 | LMI Aerospace, Inc. (a) | 10 | ||||||
3,125 | Moog, Inc., Class – A (a) | 124 | ||||||
300 | National Presto Industries, Inc. | 39 | ||||||
3,900 | Orbital Sciences Corp. (a) | 67 | ||||||
4,200 | TASER International, Inc. (a) | 20 |
Shares | Security | Value (000) | ||||||
Aerospace & Defense (continued) |
| |||||||
2,357 | Teledyne Technologies, Inc. (a) | $ | 104 | |||||
500 | The Keyw Holding Corp. (a) | 7 | ||||||
1,142 | Triumph Group, Inc. | 102 | ||||||
1,420 | ||||||||
Agricultural Products — 0.08% |
| |||||||
113 | Alico, Inc. | 3 | ||||||
5,400 | Darling International, Inc. (a) | 72 | ||||||
2,617 | Fresh Del Monte Produce, Inc. | 65 | ||||||
211 | Griffin Land & Nurseries, Inc. | 7 | ||||||
500 | Limoneira Co. | 14 | ||||||
161 | ||||||||
Air Freight & Logistics — 0.15% |
| |||||||
3,721 | Air Transport Services Group, Inc. (a) | 29 | ||||||
1,748 | Atlas Air Worldwide Holdings, Inc. (a) | 98 | ||||||
710 | Dynamex, Inc. (a) | 18 | ||||||
1,800 | Forward Air Corp. | 51 | ||||||
2,400 | Hub Group, Inc., Class – A (a) | 84 | ||||||
2,400 | Pacer International, Inc. (a) | 16 | ||||||
500 | Park-Ohio Holdings Corp. (a) | 11 | ||||||
307 | ||||||||
Airlines — 0.29% |
| |||||||
9,000 | AirTran Holdings, Inc. (a) | 67 | ||||||
2,369 | Alaska Air Group, Inc. (a) | 134 | ||||||
1,000 | Allegiant Travel Co. | 49 | ||||||
3,600 | Hawaiian Holdings, Inc. (a) | 28 | ||||||
16,449 | JetBlue Airways Corp. (a) | 109 | ||||||
1,300 | Pinnacle Airlines Corp. (a) | 10 | ||||||
3,390 | Republic Airways Holdings, Inc. (a) | 25 | ||||||
3,944 | SkyWest, Inc. | 62 | ||||||
10,903 | US Airways Group, Inc. (a) | 109 | ||||||
593 | ||||||||
Alternative Carriers — 0.10% |
| |||||||
1,400 | AboveNet, Inc. | 82 | ||||||
1,991 | Global Crossing Ltd. (a) | 26 | ||||||
4,800 | Globalstar, Inc. (a) | 7 | ||||||
2,300 | Iridium Communications, Inc. (a) | 19 | ||||||
8,500 | PAETEC Holding Corp. (a) | 32 | ||||||
4,160 | Premiere Global Services, Inc. (a) | 28 | ||||||
7,200 | Vonage Holdings Corp. (a) | 16 | ||||||
210 | ||||||||
Aluminum — 0.07% |
| |||||||
4,534 | Century Aluminum Co. (a) | 70 | ||||||
1,067 | Kaiser Aluminum Corp. | 54 | ||||||
800 | Noranda Aluminum Holding Corp. (a) | 12 | ||||||
136 | ||||||||
Apparel Retail — 0.66% |
| |||||||
3,800 | AnnTaylor Stores Corp. (a) | 104 | ||||||
1,800 | bebe stores, Inc. | 11 |
See accompanying notes to financial statements
80
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Apparel Retail (continued) |
| |||||||
300 | Body Central Corp. (a) | $ | 4 | |||||
2,874 | Brown Shoe Co., Inc. | 40 | ||||||
2,500 | Casual Male Retail Group, Inc. (a) | 12 | ||||||
7,252 | Charming Shoppes, Inc. (a) | 26 | ||||||
2,440 | Christopher & Banks Corp. | 15 | ||||||
1,000 | Citi Trends, Inc. (a) | 25 | ||||||
4,100 | Coldwater Creek, Inc. (a) | 13 | ||||||
4,096 | Collective Brands, Inc. (a) | 86 | ||||||
300 | Destination Maternity Corp. (a) | 11 | ||||||
900 | DSW, Inc., Class – A (a) | 35 | ||||||
1,000 | Express, Inc. | 19 | ||||||
1,601 | Genesco, Inc. (a) | 60 | ||||||
3,040 | Hot Topic, Inc. | 19 | ||||||
1,700 | Jos. A. Bank Clothiers, Inc. (a) | 69 | ||||||
1,498 | New York & Co., Inc. (a) | 7 | ||||||
4,815 | Pacific Sunwear of California, Inc. (a) | 26 | ||||||
900 | Rue21, Inc. (a) | 26 | ||||||
713 | Shoe Carnival, Inc. (a) | 19 | ||||||
2,579 | Stage Stores, Inc. | 45 | ||||||
1,933 | Stein Mart, Inc. | 18 | ||||||
1,746 | The Buckle, Inc. | 66 | ||||||
1,800 | The Cato Corp., Class – A | 49 | ||||||
1,700 | The Children’s Place Retail Stores, Inc. (a) | 84 | ||||||
3,880 | The Dress Barn, Inc. (a) | 102 | ||||||
3,484 | The Finish Line, Inc., Class – A | 60 | ||||||
3,665 | The Men’s Wearhouse, Inc. | 92 | ||||||
4,501 | The Talbots, Inc. (a) | 38 | ||||||
2,200 | Under Armour, Inc., Class – A (a) | 121 | ||||||
6,900 | Wet Seal, Inc., Class – A (a) | 26 | ||||||
1,300 | Zumiez, Inc. (a) | 35 | ||||||
1,363 | ||||||||
Apparel, Accessories & Luxury Goods — 0.38% |
| |||||||
2,000 | American Apparel, Inc. (a) | 3 | ||||||
3,800 | Carter’s, Inc. (a) | 112 | ||||||
500 | Cherokee, Inc. | 9 | ||||||
786 | Columbia Sportswear Co. | 47 | ||||||
400 | Delta Apparel, Inc. (a) | 5 | ||||||
1,000 | G-III Apparel Group Ltd. (a) | 35 | ||||||
3,000 | Joe’s Jeans, Inc. (a) | 5 | ||||||
369 | Kenneth Cole Productions, Inc., Class – A (a) | 5 | ||||||
6,000 | Liz Claiborne, Inc. (a) | 43 | ||||||
1,500 | Maidenform Brands, Inc. (a) | 36 | ||||||
1,154 | Movado Group, Inc. (a) | 19 | ||||||
800 | Oxford Industries, Inc. | 20 | ||||||
602 | Perry Ellis International, Inc. (a) | 17 | ||||||
8,862 | Quiksilver, Inc. (a) | 45 | ||||||
5,870 | The Jones Group, Inc. | 91 | ||||||
2,850 | The Warnaco Group, Inc. (a) | 157 |
Shares | Security | Value (000) | ||||||
Apparel, Accessories & Luxury Goods (continued) |
| |||||||
1,600 | True Religion Apparel, Inc. (a) | $ | 36 | |||||
993 | UniFirst Corp. | 55 | ||||||
900 | Vera Bradley, Inc. (a) | 30 | ||||||
1,300 | Volcom, Inc. | 24 | ||||||
794 | ||||||||
Application Software — 1.23% |
| |||||||
2,200 | ACI Worldwide, Inc. (a) | 59 | ||||||
1,000 | Advent Software, Inc. (a) | 58 | ||||||
1,500 | American Software, Inc., Class – A | 10 | ||||||
4,000 | Aspen Technology, Inc. (a) | 51 | ||||||
2,900 | Blackbaud, Inc. | 75 | ||||||
2,200 | Blackboard, Inc. (a) | 91 | ||||||
2,000 | Bottomline Technologies, Inc. (a) | 43 | ||||||
600 | BroadSoft, Inc. (a) | 14 | ||||||
2,600 | Concur Technologies, Inc. (a) | 135 | ||||||
500 | Convio, Inc. (a) | 4 | ||||||
1,366 | Deltek, Inc. (a) | 10 | ||||||
400 | Digimarc Corp. (a) | 12 | ||||||
1,700 | Ebix, Inc. (a) | 40 | ||||||
3,249 | Epicor Software Corp. (a) | 33 | ||||||
2,100 | EPIQ Systems, Inc. | 29 | ||||||
278 | ePlus, Inc. (a) | 7 | ||||||
2,881 | Fair Isaac Corp. | 67 | ||||||
900 | Guidance Software, Inc. (a) | 6 | ||||||
800 | Interactive Intelligence, Inc. (a) | 21 | ||||||
5,400 | Jack Henry & Associates, Inc. | 157 | ||||||
2,958 | JDA Software Group, Inc. (a) | 83 | ||||||
1,500 | Kenexa Corp. (a) | 33 | ||||||
9,000 | Lawson Software, Inc. (a) | 83 | ||||||
4,000 | Magma Design Automation, Inc. (a) | 20 | ||||||
1,400 | Manhattan Associates, Inc. (a) | 43 | ||||||
6,960 | Mentor Graphics Corp. (a) | 84 | ||||||
500 | MicroStrategy, Inc., Class – A (a) | 43 | ||||||
1,500 | Monotype Imaging Holdings, Inc. (a) | 17 | ||||||
300 | Motricity, Inc. (a) | 6 | ||||||
2,000 | NetScout Systems, Inc. (a) | 46 | ||||||
7,381 | Parametric Technology Corp. (a) | 166 | ||||||
1,000 | Pegasystems, Inc. | 37 | ||||||
1,300 | PROS Holdings, Inc. (a) | 15 | ||||||
360 | QAD, Inc., Class – A (a) | 3 | ||||||
3,881 | Quest Software, Inc. (a) | 108 | ||||||
2,100 | Radiant Systems, Inc. (a) | 41 | ||||||
900 | RealD, Inc. (a) | 23 | ||||||
2,000 | Smith Micro Software, Inc. (a) | 32 | ||||||
2,100 | SolarWinds, Inc. (a) | 40 | ||||||
2,877 | Sonic Solutions (a) | 43 | ||||||
800 | SS&C Technologies Holdings, Inc. (a) | 16 | ||||||
4,037 | SuccessFactors, Inc. (a) | 117 | ||||||
1,500 | Synchronoss Technologies, Inc. (a) | 40 | ||||||
2,550 | Taleo Corp., Class – A (a) | 71 | ||||||
600 | TeleNav, Inc. (a) | 4 |
See accompanying notes to financial statements
81
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Application Software (continued) |
| |||||||
1,600 | The Ultimate Software Group, Inc. (a) | $ | 78 | |||||
10,600 | TIBCO Software, Inc. (a) | 209 | ||||||
7,400 | TiVo, Inc. (a) | 64 | ||||||
1,800 | Tyler Technologies, Inc. (a) | 37 | ||||||
2,300 | VirnetX Holding Corp. | 34 | ||||||
2,558 | ||||||||
Asset Management & Custody Banks — 0.44% |
| |||||||
23,505 | American Capital Ltd. (a) | 178 | ||||||
13,120 | Apollo Investment Corp. | 145 | ||||||
500 | Arlington Asset Investment Corp., Class – A | 12 | ||||||
1,737 | Artio Global Investors, Inc. | 26 | ||||||
5,100 | BlackRock Kelso Capital Corp. | 56 | ||||||
1,236 | Calamos Asset Management, Inc., Class – A | 17 | ||||||
212 | Capital Southwest Corp. | 22 | ||||||
1,103 | Cohen & Steers, Inc. | 29 | ||||||
100 | Diamond Hill Investment Group, Inc. | 7 | ||||||
932 | Epoch Holding Corp. | 14 | ||||||
800 | Financial Engines, Inc. (a) | 16 | ||||||
512 | GAMCO Investors, Inc., Class – A | 25 | ||||||
1,433 | Gladstone Capital Corp. | 17 | ||||||
1,573 | Gladstone Investment Corp. | 12 | ||||||
510 | Golub Capital BDC LLC | 9 | ||||||
1,983 | Harris & Harris Group, Inc. (a) | 9 | ||||||
2,584 | Hercules Technology Growth Capital, Inc. | 27 | ||||||
1,056 | Main Street Capital Corp. | 19 | ||||||
5,261 | MCG Capital Corp. | 37 | ||||||
1,462 | MVC Capital, Inc. | 21 | ||||||
1,566 | NGP Capital Resources Co. | 14 | ||||||
2,458 | PennantPark Investment Corp. | 30 | ||||||
1,457 | Penson Worldwide, Inc. (a) | 7 | ||||||
5,911 | Prospect Capital Corp. | 64 | ||||||
400 | Pzena Investment Management, Inc., | 3 | ||||||
1,277 | Safeguard Scientifics, Inc. (a) | 22 | ||||||
323 | Solar Capital Ltd. | 8 | ||||||
2,077 | TICC Capital Corp. | 23 | ||||||
1,024 | Triangle Capital Corp. | 19 | ||||||
322 | Virtus Investment Partners, Inc. (a) | 15 | ||||||
313 | Westwood Holdings Group, Inc. | 12 | ||||||
915 | ||||||||
Auto Parts & Equipment — 0.37% |
| |||||||
3,800 | American Axle & Manufacturing Holdings, | 49 | ||||||
1,400 | Amerigon, Inc. (a) | 15 | ||||||
6,000 | ArvinMeritor, Inc. (a) | 123 | ||||||
8,937 | Dana Holding Corp. (a) | 154 | ||||||
700 | Dorman Products, Inc. (a) | 25 |
Shares | Security | Value (000) | ||||||
Auto Parts & Equipment (continued) |
| |||||||
1,289 | Drew Industries, Inc. | $ | 29 | |||||
5,221 | Exide Technologies (a) | 49 | ||||||
1,000 | Fuel Systems Solutions, Inc. (a) | 29 | ||||||
3,011 | Modine Manufacturing Co. (a) | 47 | ||||||
200 | Shiloh Industries, Inc. | 3 | ||||||
2,189 | Spartan Motors, Inc. | 13 | ||||||
1,364 | Standard Motor Products, Inc. | 19 | ||||||
1,000 | Stoneridge, Inc. (a) | 16 | ||||||
1,630 | Superior Industries International, Inc. | 35 | ||||||
3,804 | Tenneco, Inc. (a) | 157 | ||||||
300 | Tower International, Inc. (a) | 5 | ||||||
768 | ||||||||
Automobile Manufacturers — 0.01% |
| |||||||
1,900 | Winnebago Industries, Inc. (a) | 29 | ||||||
Automotive Retail — 0.17% |
| |||||||
591 | America’s Car-Mart, Inc. (a) | 16 | ||||||
1,900 | Asbury Automotive Group, Inc. (a) | 35 | ||||||
1,557 | Group 1 Automotive, Inc. | 65 | ||||||
1,371 | Lithia Motors, Inc., Class – A | 20 | ||||||
1,000 | Midas, Inc. (a) | 8 | ||||||
1,850 | Monro Muffler Brake, Inc. | 64 | ||||||
3,000 | Penske Automotive Group, Inc. (a) | 52 | ||||||
2,677 | Sonic Automotive, Inc., Class – A | 36 | ||||||
3,657 | The Pep Boys - Manny, Moe & Jack | 49 | ||||||
345 | ||||||||
Biotechnology — 1.20% |
| |||||||
2,400 | Acorda Therapeutics, Inc. (a) | 65 | ||||||
1,400 | Affymax, Inc. (a) | 9 | ||||||
6,200 | Alkermes, Inc. (a) | 76 | ||||||
5,200 | Allos Therapeutics, Inc. (a) | 24 | ||||||
2,400 | Alnylam Pharmaceuticals, Inc. (a) | 24 | ||||||
1,400 | AMAG Pharmaceuticals, Inc. (a) | 25 | ||||||
900 | Anacor Pharmaceuticals, Inc. (a) | 5 | ||||||
7,600 | Arena Pharmaceuticals, Inc. (a) | 13 | ||||||
8,300 | ARIAD Pharmaceuticals, Inc. (a) | 42 | ||||||
2,800 | ArQule, Inc. (a) | 16 | ||||||
3,600 | Array BioPharma, Inc. (a) | 11 | ||||||
600 | Aveo Phamaceuticals, Inc. (a) | 9 | ||||||
7,400 | AVI BioPharma, Inc. (a) | 16 | ||||||
2,000 | BioCryst Pharmaceuticals, Inc. (a) | 10 | ||||||
4,800 | BioSante Pharmaceuticals, Inc. (a) | 8 | ||||||
300 | BioSpecifics Technologies Corp. (a) | 8 | ||||||
1,500 | BioTime, Inc. (a) | 13 | ||||||
5,190 | Celera Corp. (a) | 33 | ||||||
2,200 | Celldex Therapeutics, Inc. (a) | 9 | ||||||
3,800 | Cepheid, Inc. (a) | 86 | ||||||
2,600 | Chelsea Therapeutics International Ltd. (a) | 20 | ||||||
800 | Clinical Data, Inc. (a) | 13 | ||||||
800 | Codexis, Inc. (a) | 8 | ||||||
3,700 | Cubist Pharmaceuticals, Inc. (a) | 79 |
See accompanying notes to financial statements
82
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Biotechnology (continued) |
| |||||||
5,200 | Curis, Inc. (a) | $ | 10 | |||||
3,000 | Cytokinetics, Inc. (a) | 6 | ||||||
3,100 | Cytori Therapeutics, Inc. (a) | 16 | ||||||
7,600 | CytRx Corp. (a) | 8 | ||||||
6,600 | Dyax Corp. (a) | 14 | ||||||
6,500 | Dynavax Technologies Corp. (a) | 21 | ||||||
1,200 | Emergent BioSolutions, Inc. (a) | 28 | ||||||
2,000 | Enzo Biochem, Inc. (a) | 11 | ||||||
3,300 | Enzon Pharmaceuticals, Inc. (a) | 40 | ||||||
3,000 | Exact Sciences Corp. (a) | 18 | ||||||
900 | Genomic Health, Inc. (a) | 19 | ||||||
8,000 | Geron Corp. (a) | 41 | ||||||
4,800 | Halozyme Therapeutics, Inc. (a) | 38 | ||||||
2,400 | Idenix Pharmaceuticals, Inc. (a) | 12 | ||||||
4,300 | ImmunoGen, Inc. (a) | 40 | ||||||
4,400 | Immunomedics, Inc. (a) | 16 | ||||||
5,600 | Incyte Corp. (a) | 93 | ||||||
714 | Infinity Pharmaceuticals, Inc. (a) | 4 | ||||||
3,400 | Inhibitex, Inc. (a) | 9 | ||||||
2,900 | InterMune, Inc. (a) | 106 | ||||||
1,300 | Ironwood Pharmaceuticals, Inc. (a) | 13 | ||||||
6,000 | Isis Pharmaceuticals, Inc. (a) | 61 | ||||||
3,400 | Keryx Biopharmaceuticals, Inc. (a) | 16 | ||||||
13,596 | Lexicon Pharmaceuticals, Inc. (a) | 20 | ||||||
1,316 | Ligand Pharmaceuticals, Inc., Class – B (a) | 12 | ||||||
4,400 | MannKind Corp. (a) | 35 | ||||||
2,217 | Martek Biosciences Corp. (a) | 69 | ||||||
1,981 | Maxygen, Inc. | 8 | ||||||
2,200 | Medivation, Inc. (a) | 33 | ||||||
1,800 | Metabolix, Inc. (a) | 22 | ||||||
5,800 | Micromet, Inc. (a) | 47 | ||||||
2,700 | Momenta Pharmaceuticals, Inc. (a) | 40 | ||||||
2,700 | Nabi Biopharmaceuticals (a) | 16 | ||||||
1,200 | Nanosphere, Inc. (a) | 5 | ||||||
3,200 | Neuralstem, Inc. (a) | 7 | ||||||
3,100 | Neurocrine Biosciences, Inc. (a) | 24 | ||||||
800 | NeurogesX, Inc. (a) | 5 | ||||||
6,100 | Novavax, Inc. (a) | 15 | ||||||
4,400 | NPS Pharmaceuticals, Inc. (a) | 35 | ||||||
1,200 | Nymox Pharmaceutical Corp. (a) | 8 | ||||||
1,300 | Omeros Corp. (a) | 11 | ||||||
4,000 | Onyx Pharmaceuticals, Inc. (a) | 148 | ||||||
5,900 | Opko Health, Inc. (a) | 22 | ||||||
2,100 | Orexigen Therapeutics, Inc. (a) | 17 | ||||||
1,200 | Osiris Therapeutics, Inc. (a) | 9 | ||||||
8,900 | PDL BioPharma, Inc. | 55 | ||||||
3,800 | Peregrine Pharmaceuticals, Inc. (a) | 9 | ||||||
2,900 | Pharmacyclics, Inc. (a) | 18 | ||||||
1,900 | Pharmasset, Inc. (a) | 82 | ||||||
1,889 | Progenics Pharmaceuticals, Inc. (a) | 10 |
Shares | Security | Value (000) | ||||||
Biotechnology (continued) |
| |||||||
3,300 | Rigel Pharmaceuticals, Inc. (a) | $ | 25 | |||||
3,000 | Sangamo BioSciences, Inc. (a) | 20 | ||||||
4,300 | Savient Pharmaceuticals, Inc. (a) | 48 | ||||||
2,500 | SciClone Pharmaceuticals, Inc. (a) | 10 | ||||||
5,300 | Seattle Genetics, Inc. (a) | 79 | ||||||
2,100 | SIGA Technologies, Inc. (a) | 29 | ||||||
3,300 | Spectrum Pharmaceuticals, Inc. (a) | 23 | ||||||
8,200 | StemCells, Inc. (a) | 9 | ||||||
1,600 | Synta Pharmaceuticals Corp. (a) | 10 | ||||||
1,500 | Targacept, Inc. (a) | 40 | ||||||
4,000 | Theravance, Inc. (a) | 100 | ||||||
1,900 | Vanda Pharmaceuticals, Inc. (a) | 18 | ||||||
4,900 | Vical, Inc. (a) | 10 | ||||||
4,600 | Zalicus, Inc. (a) | 7 | ||||||
3,300 | ZIOPHARM Oncology, Inc. (a) | 15 | ||||||
2,487 | ||||||||
Brewers — 0.03% |
| |||||||
600 | The Boston Beer Co., Inc., Class – A (a) | 57 | ||||||
Broadcasting — 0.06% |
| |||||||
5,500 | Belo Corp., Class – A (a) | 39 | ||||||
657 | Crown Media Holdings, Inc., Class – A (a) | 2 | ||||||
1,200 | Cumulus Media, Inc., Class – A (a) | 5 | ||||||
1,400 | Entercom Communications Corp., | 16 | ||||||
3,300 | Entravision Communications Corp., | 8 | ||||||
424 | Fisher Communications, Inc. (a) | 9 | ||||||
3,300 | Gray Television, Inc. (a) | 6 | ||||||
1,538 | LIN TV Corp., Class – A (a) | 8 | ||||||
600 | Nexstar Broadcasting Group, Inc., | 4 | ||||||
2,200 | Radio One, Inc., Class – D (a) | 2 | ||||||
2,871 | Sinclair Broadcast Group, Inc., Class – A | 24 | ||||||
400 | Westwood One, Inc. (a) | 4 | ||||||
127 | ||||||||
Building Products — 0.21% |
| |||||||
800 | AAON, Inc. | 23 | ||||||
600 | Ameresco, Inc., Class – A (a) | 9 | ||||||
651 | American Woodmark Corp. | 16 | ||||||
649 | Ameron International Corp. | 49 | ||||||
1,742 | Apogee Enterprises, Inc. | 23 | ||||||
2,624 | Builders FirstSource, Inc. (a) | 5 | ||||||
2,108 | Gibraltar Industries, Inc. (a) | 29 | ||||||
3,155 | Griffon Corp. (a) | 40 | ||||||
1,171 | Insteel Industries, Inc. | 15 | ||||||
1,300 | NCI Building Systems, Inc. (a) | 18 | ||||||
1,700 | PGT, Inc. (a) | 4 | ||||||
2,589 | Quanex Building Products Corp. | 49 | ||||||
2,512 | Simpson Manufacturing Co., Inc. | 78 |
See accompanying notes to financial statements
83
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Building Products (continued) |
| |||||||
1,000 | Trex Co., Inc. (a) | $ | 24 | |||||
1,330 | Universal Forest Products, Inc. | 52 | ||||||
434 | ||||||||
Cable & Satellite — 0.03% |
| |||||||
1,982 | Knology, Inc. (a) | 31 | ||||||
2,763 | Mediacom Communications Corp., | 23 | ||||||
982 | Outdoor Channel Holdings, Inc. | 7 | ||||||
61 | ||||||||
Casinos & Gaming — 0.13% |
| |||||||
1,700 | Ameristar Casinos, Inc. | 27 | ||||||
3,700 | Boyd Gaming Corp. (a) | 39 | ||||||
750 | Churchill Downs, Inc. | 32 | ||||||
1,000 | Isle of Capri Casinos, Inc. (a) | 10 | ||||||
445 | Monarch Casino & Resort, Inc. (a) | 6 | ||||||
1,481 | Multimedia Games, Inc. (a) | 8 | ||||||
4,007 | Pinnacle Entertainment, Inc. (a) | 56 | ||||||
4,400 | Scientific Games Corp., Class – A (a) | 44 | ||||||
3,500 | Shuffle Master, Inc. (a) | 40 | ||||||
262 | ||||||||
Catalog Retail — 0.04% |
| |||||||
1,207 | Gaiam, Inc., Class – A | 9 | ||||||
2,400 | HSN, Inc. (a) | 74 | ||||||
83 | ||||||||
Coal & Consumable Fuels — 0.15% |
| |||||||
400 | Amyris, Inc. (a) | 11 | ||||||
300 | Hallador Energy Co. | 3 | ||||||
9,052 | International Coal Group, Inc. (a) | 70 | ||||||
1,800 | James River Coal Co. (a) | 46 | ||||||
1,200 | L&L Energy, Inc. (a) | 13 | ||||||
5,484 | Patriot Coal Corp. (a) | 106 | ||||||
4,000 | Uranium Energy Corp. (a) | 24 | ||||||
7,551 | USEC, Inc. (a) | 45 | ||||||
318 | ||||||||
Commercial Printing — 0.10% |
| |||||||
3,700 | Cenveo, Inc. (a) | 20 | ||||||
600 | Consolidated Graphics, Inc. (a) | 29 | ||||||
667 | Courier Corp. | 10 | ||||||
3,340 | Deluxe Corp. | 77 | ||||||
1,805 | Ennis, Inc. | 31 | ||||||
1,600 | InnerWorkings, Inc. (a) | 11 | ||||||
743 | M & F Worldwide Corp. (a) | 17 | ||||||
666 | Multi-Color Corp. | 13 | ||||||
1,300 | The Standard Register Co. | 4 | ||||||
212 | ||||||||
Shares | Security | Value (000) | ||||||
Commodity Chemicals — 0.21% |
| |||||||
3,600 | Calgon Carbon Corp. (a) | $ | 54 | |||||
2,200 | Georgia Gulf Corp. (a) | 53 | ||||||
466 | Hawkins, Inc. | 21 | ||||||
1,383 | Innophos Holdings, Inc. | 50 | ||||||
1,300 | Koppers Holdings, Inc. | 47 | ||||||
700 | NewMarket Corp. | 86 | ||||||
466 | NL Industries, Inc. | 5 | ||||||
2,148 | Spartech Corp. (a) | 20 | ||||||
1,800 | STR Holdings, Inc. (a) | 36 | ||||||
1,382 | Westlake Chemical Corp. | 60 | ||||||
432 | ||||||||
Communications Equipment — 1.14% |
| |||||||
2,800 | Acme Packet, Inc. (a) | 149 | ||||||
4,000 | ADTRAN, Inc. | 145 | ||||||
932 | Anaren, Inc. (a) | 19 | ||||||
8,833 | Arris Group, Inc. (a) | 99 | ||||||
4,900 | Aruba Networks, Inc. (a) | 102 | ||||||
4,243 | Aviat Networks, Inc. (a) | 21 | ||||||
656 | Bel Fuse, Inc., Class – B | 16 | ||||||
3,400 | BigBand Networks, Inc. (a) | 10 | ||||||
1,142 | Black Box Corp. | 44 | ||||||
2,700 | Blue Coat Systems, Inc. (a) | 81 | ||||||
400 | Calix, Inc. (a) | 7 | ||||||
2,000 | Comtech Telecommunications Corp. | 55 | ||||||
1,600 | DG FastChannel, Inc. (a) | 46 | ||||||
1,453 | Digi International, Inc. (a) | 16 | ||||||
1,012 | EMS Technologies, Inc. (a) | 20 | ||||||
5,990 | Emulex Corp. (a) | 70 | ||||||
6,168 | Extreme Networks, Inc. (a) | 19 | ||||||
4,850 | Finisar Corp. (a) | 144 | ||||||
1,507 | Globecomm Systems, Inc. (a) | 15 | ||||||
7,697 | Harmonic, Inc. (a) | 66 | ||||||
500 | Hughes Communications, Inc. (a) | 20 | ||||||
5,700 | Infinera Corp. (a) | 59 | ||||||
2,800 | InterDigital, Inc. (a) | 117 | ||||||
2,150 | Ixia (a) | 36 | ||||||
1,000 | KVH Industries, Inc. (a) | 12 | ||||||
700 | Loral Space & Communications, Inc. (a) | 54 | ||||||
400 | Meru Networks, Inc. (a) | 6 | ||||||
2,200 | NETGEAR, Inc. (a) | 74 | ||||||
2,600 | Network Engines, Inc. (a) | 4 | ||||||
2,100 | Network Equipment Technologies, Inc. (a) | 10 | ||||||
2,200 | Neutral Tandem, Inc. (a) | 32 | ||||||
900 | Occam Networks, Inc. (a) | 8 | ||||||
3,100 | Oclaro, Inc. (a) | 41 | ||||||
1,223 | Oplink Communications, Inc. (a) | 23 | ||||||
1,864 | Opnext, Inc. (a) | 3 | ||||||
1,265 | PC-Tel, Inc. (a) | 8 | ||||||
3,100 | Plantronics, Inc. | 115 | ||||||
8,755 | Powerwave Technologies, Inc. (a) | 22 | ||||||
8,054 | Riverbed Technology, Inc. (a) | 283 |
See accompanying notes to financial statements
84
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Communications Equipment (continued) |
| |||||||
1,792 | SeaChange International, Inc. (a) | $ | 15 | |||||
3,000 | ShoreTel, Inc. (a) | 23 | ||||||
13,899 | Sonus Networks, Inc. (a) | 37 | ||||||
1,362 | Sycamore Networks, Inc. | 28 | ||||||
2,927 | Symmetricom, Inc. (a) | 21 | ||||||
4,732 | Tekelec (a) | 56 | ||||||
7,804 | UTStarcom, Inc. (a) | 16 | ||||||
2,200 | ViaSat, Inc. (a) | 98 | ||||||
2,365 | ||||||||
Computer & Electronics Retail — 0.09% |
| |||||||
1,100 | FalconStor Software, Inc. (a) | 3 | ||||||
900 | hhgregg, Inc. (a) | 19 | ||||||
4,424 | Rent-A-Center, Inc. | 143 | ||||||
455 | REX American Resources Corp. (a) | 7 | ||||||
774 | Systemax, Inc. (a) | 11 | ||||||
183 | ||||||||
Computer Hardware — 0.06% |
| |||||||
2,030 | Avid Technology, Inc. (a) | 35 | ||||||
2,513 | Cray, Inc. (a) | 18 | ||||||
1,786 | Silicon Graphics International Corp. (a) | 16 | ||||||
1,300 | Stratasys, Inc. (a) | 42 | ||||||
1,600 | Super Micro Computer, Inc. (a) | 19 | ||||||
130 | ||||||||
Computer Storage & Peripherals — 0.21% |
| |||||||
1,500 | Compellent Technologies, Inc. (a) | 41 | ||||||
2,929 | Electronics for Imaging, Inc. (a) | 42 | ||||||
1,600 | Hutchinson Technology, Inc. (a) | 6 | ||||||
3,100 | Hypercom Corp. (a) | 26 | ||||||
1,827 | Imation Corp. (a) | 19 | ||||||
1,900 | Immersion Corp. (a) | 13 | ||||||
3,300 | Intermec, Inc. (a) | 42 | ||||||
1,537 | Intevac, Inc. (a) | 21 | ||||||
1,900 | Novatel Wireless, Inc. (a) | 18 | ||||||
1,800 | Presstek, Inc. (a) | 4 | ||||||
13,800 | Quantum Corp. (a) | 51 | ||||||
599 | Rimage Corp. (a) | 9 | ||||||
2,600 | STEC, Inc. (a) | 46 | ||||||
2,100 | Synaptics, Inc. (a) | 62 | ||||||
2,000 | Xyratex Ltd. (a) | 33 | ||||||
433 | ||||||||
Construction & Engineering — 0.29% |
| |||||||
400 | Argan, Inc. (a) | 4 | ||||||
2,460 | Dycom Industries, Inc. (a) | 36 | ||||||
4,629 | EMCOR Group, Inc. (a) | 134 | ||||||
2,523 | Furmanite Corp. (a) | 17 | ||||||
2,452 | Granite Construction, Inc. | 67 | ||||||
4,010 | Great Lakes Dredge & Dock Co. | 30 |
Shares | Security | Value (000) | ||||||
Construction & Engineering (continued) |
| |||||||
2,582 | Insituform Technologies, Inc., Class – A (a) | $ | 69 | |||||
1,368 | Layne Christensen Co. (a) | 47 | ||||||
3,671 | MasTec, Inc. (a) | 54 | ||||||
500 | Michael Baker Corp. (a) | 16 | ||||||
1,400 | MYR Group, Inc. (a) | 29 | ||||||
615 | Northwest Pipe Co. (a) | 15 | ||||||
1,800 | Orion Marine Group, Inc. (a) | 21 | ||||||
1,099 | Pike Electric Corp. (a) | 9 | ||||||
1,200 | Primoris Services Corp. | 11 | ||||||
985 | Sterling Construction Co., Inc. (a) | 13 | ||||||
1,714 | Tutor Perini Corp. | 37 | ||||||
609 | ||||||||
Construction & Farm Machinery & Heavy Trucks — 0.21% |
| |||||||
493 | Alamo Group, Inc. | 14 | ||||||
593 | American Railcar Industries, Inc. (a) | 13 | ||||||
1,455 | Astec Industries, Inc. (a) | 47 | ||||||
621 | Cascade Corp. | 29 | ||||||
1,700 | Commercial Vehicle Group, Inc. (a) | 28 | ||||||
800 | Douglas Dynamics, Inc. | 12 | ||||||
4,013 | Federal Signal Corp. | 28 | ||||||
802 | FreightCar America, Inc. | 23 | ||||||
800 | Lindsay Corp. | 48 | ||||||
566 | Miller Industries, Inc. | 8 | ||||||
300 | NACCO Industries, Inc., Class – A | 32 | ||||||
700 | Sauer-Danfoss, Inc. (a) | 20 | ||||||
1,326 | The Greenbrier Cos., Inc. (a) | 28 | ||||||
2,468 | Titan International, Inc. | 48 | ||||||
434 | Twin Disc, Inc. | 13 | ||||||
4,500 | Wabash National Corp. (a) | 53 | ||||||
444 | ||||||||
Construction Materials — 0.04% |
| |||||||
4,070 | Headwaters, Inc. (a) | 19 | ||||||
1,411 | Texas Industries, Inc. | 64 | ||||||
83 | ||||||||
Consumer Electronics — 0.01% |
| |||||||
878 | Universal Electronics, Inc. (a) | 25 | ||||||
Consumer Finance — 0.23% |
| |||||||
3,359 | Advance America Cash Advance Centers, Inc. | 19 | ||||||
1,700 | Cardtronics, Inc. (a) | 30 | ||||||
1,900 | Cash America International, Inc. | 70 | ||||||
452 | CompuCredit Holdings Corp. (a) | 3 | ||||||
400 | Credit Acceptance Corp. (a) | 25 | ||||||
1,500 | Dollar Financial Corp. (a) | 43 | ||||||
2,900 | EZCORP, Inc. (a) | 78 | ||||||
1,900 | First Cash Financial Services, Inc. (a) | 59 | ||||||
1,929 | Nelnet, Inc., Class – A | 46 | ||||||
2,100 | Netspend Holdings, Inc. (a) | 27 | ||||||
4,213 | The First Marblehead Corp. (a) | 9 |
See accompanying notes to financial statements
85
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Consumer Finance (continued) |
| |||||||
300 | The Student Loan Corp. | $ | 10 | |||||
1,023 | World Acceptance Corp. (a) | 54 | ||||||
473 | ||||||||
Data Processing & Outsourced Services — 0.30% |
| |||||||
500 | Cass Information Systems, Inc. | 19 | ||||||
2,259 | CSG Systems International, Inc. (a) | 43 | ||||||
700 | Echo Global Logistics, Inc. (a) | 8 | ||||||
3,203 | Euronet Worldwide, Inc. (a) | 56 | ||||||
1,000 | Exlservice Holdings, Inc. (a) | 22 | ||||||
3,376 | Global Cash Access Holdings, Inc. (a) | 11 | ||||||
2,500 | Heartland Payment Systems, Inc. | 39 | ||||||
5,914 | MoneyGram International, Inc. (a) | 16 | ||||||
2,437 | Online Resources Corp. (a) | 11 | ||||||
1,800 | TeleTech Holdings, Inc. (a) | 37 | ||||||
1,700 | TNS, Inc. (a) | 35 | ||||||
5,450 | VeriFone Systems, Inc. (a) | 210 | ||||||
2,500 | Wright Express Corp. (a) | 115 | ||||||
622 | ||||||||
Department Stores — 0.11% |
| |||||||
2,775 | Dillard’s, Inc., Class – A | 105 | ||||||
1,500 | Retail Ventures, Inc. (a) | 25 | ||||||
9,167 | Saks, Inc. (a) | 98 | ||||||
700 | The Bon-Ton Stores, Inc. (a) | 9 | ||||||
237 | ||||||||
Distillers & Vintners — 0.00% |
| |||||||
600 | MGP Ingredients, Inc. | 7 | ||||||
Distributors — 0.02% |
| |||||||
1,220 | Audiovox Corp., Class – A (a) | 10 | ||||||
783 | Core-Mark Holding Co., Inc. (a) | 28 | ||||||
38 | ||||||||
Diversified Banks — 0.02% |
| |||||||
2,013 | Banco Latinoamericano de Comercio Exterior SA, Class – E | 37 | ||||||
600 | Encore Bancshares, Inc. (a) | 6 | ||||||
43 | ||||||||
Diversified Capital Markets — 0.01% |
| |||||||
1,300 | HFF, Inc., Class – A (a) | 12 | ||||||
996 | JMP Group, Inc. | 8 | ||||||
20 | ||||||||
Diversified Chemicals — 0.15% |
| |||||||
1,100 | LSB Industries, Inc. (a) | 27 | ||||||
5,031 | Olin Corp. | 103 | ||||||
7,800 | Solutia, Inc. (a) | 180 | ||||||
310 | ||||||||
Shares | Security | Value (000) | ||||||
Diversified Metals & Mining — 0.26% |
| |||||||
1,500 | AMCOL International Corp. | $ | 47 | |||||
1,324 | Brush Engineered Materials, Inc. (a) | 51 | ||||||
4,300 | General Moly, Inc. (a) | 28 | ||||||
3,950 | Globe Specialty Metals, Inc. | 68 | ||||||
2,787 | Horsehead Holding Corp. (a) | 36 | ||||||
1,700 | Molycorp, Inc. (a) | 85 | ||||||
1,930 | RTI International Metals, Inc. (a) | 52 | ||||||
10,900 | Thompson Creek Metals Co., Inc. (a) | 160 | ||||||
1,800 | U.S. Energy Corp. (a) | 11 | ||||||
538 | ||||||||
Diversified Real Estate Activities — 0.04% |
| |||||||
2,000 | Campus Crest Communities, Inc. | 28 | ||||||
361 | Consolidated-Tomoka Land Co. | 10 | ||||||
1,300 | Coresite Realty Corp. | 18 | ||||||
900 | Tejon Ranch Co. (a) | 25 | ||||||
81 | ||||||||
Diversified REITs — 0.24% |
| |||||||
4,066 | CapLease, Inc. | 24 | ||||||
5,199 | Colonial Properties Trust | 94 | ||||||
6,369 | Cousins Properties, Inc. | 53 | ||||||
1,000 | Excel Trust, Inc. | 12 | ||||||
535 | Gladstone Commercial Corp. | 10 | ||||||
5,145 | Investors Real Estate Trust | 46 | ||||||
600 | One Liberty Properties, Inc. | 10 | ||||||
1,247 | PS Business Parks, Inc. | 70 | ||||||
2,900 | Retail Opportunity Investments Corp. | 29 | ||||||
4,297 | Washington Real Estate Investment Trust | 133 | ||||||
1,678 | Winthrop Realty Trust, Inc. | 21 | ||||||
502 | ||||||||
Diversified Support Services — 0.15% |
| |||||||
2,715 | Comfort Systems USA, Inc. | 36 | ||||||
1,300 | EnerNOC, Inc. (a) | 31 | ||||||
1,299 | G&K Services, Inc., Class – A | 40 | ||||||
4,150 | Healthcare Services Group, Inc. | 68 | ||||||
1,542 | McGrath Rentcorp | 40 | ||||||
2,361 | Mobile Mini, Inc. (a) | 46 | ||||||
704 | Schawk, Inc. | 15 | ||||||
1,388 | Viad Corp. | 35 | ||||||
311 | ||||||||
Drug Retail — 0.02% |
| |||||||
35,500 | Rite Aid Corp. (a) | 31 | ||||||
Education Services — 0.15% |
| |||||||
1,200 | American Public Education, Inc. (a) | 44 | ||||||
800 | Archipelago Learning, Inc. (a) | 8 | ||||||
1,300 | Bridgepoint Education, Inc. (a) | 25 | ||||||
800 | Cambium Learning Group, Inc. (a) | 3 | ||||||
1,100 | Capella Education Co. (a) | 73 | ||||||
5,600 | Corinthian Colleges, Inc. (a) | 29 | ||||||
2,000 | Grand Canyon Education, Inc. (a) | 39 |
See accompanying notes to financial statements
86
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Education Services (continued) |
| |||||||
1,600 | K12, Inc. (a) | $ | 46 | |||||
400 | Learning Tree International, Inc. | 4 | ||||||
900 | Lincoln Educational Services Corp. | 14 | ||||||
400 | National American University Holdings, Inc. | 3 | ||||||
1,400 | Universal Technical Institute, Inc. | 31 | ||||||
319 | ||||||||
Electric Utilities — 0.49% |
| |||||||
2,110 | ALLETE, Inc. | 79 | ||||||
3,696 | Avista Corp. | 83 | ||||||
806 | Central Vermont Public Service Corp. | 18 | ||||||
4,208 | Cleco Corp. | 129 | ||||||
2,922 | El Paso Electric Co. (a) | 80 | ||||||
3,266 | IDACORP, Inc. | 121 | ||||||
1,600 | MGE Energy, Inc. | 68 | ||||||
2,308 | Otter Tail Corp. | 52 | ||||||
5,056 | Portland General Electric Co. | 110 | ||||||
2,785 | The Empire District Electric Co. | 62 | ||||||
3,423 | UIL Holdings Corp. | 102 | ||||||
2,476 | Unisource Energy Corp. | 89 | ||||||
653 | Unitil Corp. | 15 | ||||||
1,008 | ||||||||
Electrical Components & Equipment — 0.77% |
| |||||||
2,336 | A.O. Smith Corp. | 89 | ||||||
4,600 | A123 Systems, Inc. (a) | 44 | ||||||
2,800 | Acuity Brands, Inc. | 161 | ||||||
4,000 | Advanced Battery Technologies, Inc. (a) | 15 | ||||||
3,200 | American Superconductor Corp. (a) | 92 | �� | |||||
3,056 | Baldor Electric Co. | 193 | ||||||
3,000 | Belden, Inc. | 110 | ||||||
3,313 | Brady Corp., Class – A | 108 | ||||||
400 | Coleman Cable, Inc. (a) | 3 | ||||||
1,253 | Encore Wire Corp. | 31 | ||||||
4,100 | Ener1, Inc. (a) | 16 | ||||||
3,355 | Energy Conversion Devices, Inc. (a) | 15 | ||||||
3,247 | EnerSys (a) | 104 | ||||||
13,301 | Evergreen Solar, Inc. (a) | 8 | ||||||
1,394 | Franklin Electric Co., Inc. | 54 | ||||||
6,500 | FuelCell Energy, Inc. (a) | 15 | ||||||
1,200 | Generac Holdings, Inc. (a) | 19 | ||||||
7,700 | GrafTech International Ltd. (a) | 153 | ||||||
1,100 | Hoku Corp. (a) | 3 | ||||||
1,600 | II-VI, Inc. (a) | 74 | ||||||
910 | LaBarge, Inc. (a) | 14 | ||||||
1,418 | LSI Industries, Inc. | 12 | ||||||
1,400 | Polypore International, Inc. (a) | 57 | ||||||
600 | Powell Industries, Inc. (a) | 20 | ||||||
100 | Preformed Line Products Co. | 6 |
Shares | Security | Value (000) | ||||||
Electrical Components & Equipment (continued) |
| |||||||
2,500 | UQM Technologies, Inc. (a) | $ | 6 | |||||
1,300 | Vicor Corp. | 21 | ||||||
3,900 | Woodward Governor Co. | 147 | ||||||
1,590 | ||||||||
Electronic Components — 0.14% |
| |||||||
414 | CPI International, Inc. (a) | 8 | ||||||
1,100 | DTS, Inc. (a) | 54 | ||||||
600 | Fabrinet (a) | 13 | ||||||
1,397 | Littelfuse, Inc. | 66 | ||||||
4,400 | Power-One, Inc. (a) | 45 | ||||||
1,054 | Rogers Corp. (a) | 40 | ||||||
873 | Spectrum Control, Inc. (a) | 13 | ||||||
1,850 | Universal Display Corp. (a) | 57 | ||||||
296 | ||||||||
Electronic Equipment & Instruments — 0.46% |
| |||||||
811 | Analogic Corp. | 40 | ||||||
1,855 | Anixter International, Inc. | 111 | ||||||
900 | Badger Meter, Inc. | 40 | ||||||
4,500 | Brightpoint, Inc. (a) | 39 | ||||||
2,673 | Checkpoint Systems, Inc. (a) | 55 | ||||||
2,596 | Cognex Corp. | 76 | ||||||
1,616 | Coherent, Inc. (a) | 73 | ||||||
1,700 | Comverge, Inc. (a) | 12 | ||||||
2,244 | Daktronics, Inc. | 36 | ||||||
544 | Dawson Geophysical Co. (a) | 17 | ||||||
1,564 | Electro Scientific Industries, Inc. (a) | 25 | ||||||
1,000 | FARO Technologies, Inc. (a) | 33 | ||||||
1,700 | Gerber Scientific, Inc. (a) | 13 | ||||||
5,302 | L-1 Identity Solutions, Inc. (a) | 63 | ||||||
2,511 | Methode Electronics, Inc. | 33 | ||||||
6,100 | Microvision, Inc. (a) | 11 | ||||||
1,000 | MTS Systems Corp. | 38 | ||||||
2,488 | Newport Corp. (a) | 43 | ||||||
1,065 | OSI Systems, Inc. (a) | 39 | ||||||
2,500 | Plexus Corp. (a) | 77 | ||||||
1,807 | Rofin-Sinar Technologies, Inc. (a) | 64 | ||||||
1,964 | X-Rite, Inc. (a) | 9 | ||||||
947 | ||||||||
Electronic Manufacturing Services — 0.26% |
| |||||||
4,359 | Benchmark Electronics, Inc. (a) | 79 | ||||||
2,373 | CTS Corp. | 26 | ||||||
900 | DDi Corp. | 11 | ||||||
2,200 | Echelon Corp. (a) | 22 | ||||||
1,600 | IPG Photonics Corp. (a) | 51 | ||||||
1,700 | Maxwell Technologies, Inc. (a) | 32 | ||||||
993 | Measurement Specialties, Inc. (a) | 29 | ||||||
1,560 | Mercury Computer Systems, Inc. (a) | 29 | ||||||
600 | Multi-Fineline Electronix, Inc. (a) | 16 | ||||||
1,345 | Park Electrochemical Corp. | 40 | ||||||
2,800 | Pulse Electronics Corp. | 15 |
See accompanying notes to financial statements
87
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Electronic Manufacturing Services (continued) |
| |||||||
1,600 | RadiSys Corp. (a) | $ | 14 | |||||
5,100 | Sanmina-SCI Corp. (a) | 59 | ||||||
3,390 | SMART Modular Technologies (WWH), Inc. (a) | 20 | ||||||
5,430 | TTM Technologies, Inc. (a) | 81 | ||||||
200 | Viasystems Group, Inc. (a) | 4 | ||||||
1,078 | Zygo Corp. (a) | 13 | ||||||
541 | ||||||||
Environmental & Facilities Services — 0.26% |
| |||||||
3,388 | ABM Industries, Inc. | 89 | ||||||
1,700 | Casella Waste Systems, Inc., Class – A (a) | 12 | ||||||
1,500 | Clean Harbors, Inc. (a) | 126 | ||||||
6,113 | EnergySolutions, Inc. | 34 | ||||||
1,276 | Fuel Tech, Inc. (a) | 13 | ||||||
2,254 | Metalico, Inc. (a) | 13 | ||||||
4,100 | Rollins, Inc. | 81 | ||||||
1,000 | Standard Parking Corp. (a) | 19 | ||||||
1,166 | Team, Inc. (a) | 28 | ||||||
3,900 | Tetra Tech, Inc. (a) | 98 | ||||||
1,100 | US Ecology, Inc. | 19 | ||||||
532 | ||||||||
Fertilizers & Agricultural Chemicals — 0.01% |
| |||||||
1,259 | American Vanguard Corp. | 11 | ||||||
Food Distributors — 0.08% | ||||||||
889 | Nash Finch Co. | 38 | ||||||
1,662 | Spartan Stores, Inc. | 28 | ||||||
3,000 | United Natural Foods, Inc. (a) | 110 | ||||||
176 | ||||||||
Food Retail — 0.22% |
| |||||||
100 | Arden Group, Inc. | 8 | ||||||
900 | Cal-Maine Foods, Inc. | 28 | ||||||
2,480 | Casey’s General Stores, Inc. | 106 | ||||||
868 | Ingles Markets, Inc., Class – A | 17 | ||||||
2,820 | Ruddick Corp. | 104 | ||||||
587 | Susser Holdings Corp. (a) | 8 | ||||||
1,268 | The Andersons, Inc. | 46 | ||||||
1,000 | The Fresh Market, Inc. (a) | 41 | ||||||
1,356 | The Pantry, Inc. (a) | 27 | ||||||
400 | Village Super Market, Inc., Class – A | 13 | ||||||
720 | Weis Markets, Inc. | 29 | ||||||
3,854 | Winn-Dixie Stores, Inc. (a) | 28 | ||||||
455 | ||||||||
Footwear — 0.34% |
| |||||||
5,500 | Crocs, Inc. (a) | 94 | ||||||
2,494 | Deckers Outdoor Corp. (a) | 199 | ||||||
5,056 | Iconix Brand Group, Inc. (a) | 97 | ||||||
1,749 | K-Swiss, Inc., Class – A (a) | 22 |
Shares | Security | Value (000) | ||||||
Footwear (continued) | ||||||||
300 | LaCrosse Footwear, Inc. | $ | 5 | |||||
600 | R.G. Barry Corp. | 7 | ||||||
2,200 | Skechers U.S.A., Inc., Class – A (a) | 44 | ||||||
1,600 | Steven Madden Ltd. (a) | 67 | ||||||
2,488 | The Timberland Co., Class – A (a) | 61 | ||||||
500 | Weyco Group, Inc. | 12 | ||||||
3,200 | Wolverine World Wide, Inc. | 102 | ||||||
710 | ||||||||
Forest Products — 0.06% |
| |||||||
700 | Deltic Timber Corp. | 39 | ||||||
8,879 | Louisiana-Pacific Corp. (a) | 84 | ||||||
123 | ||||||||
Gas Utilities — 0.44% |
| |||||||
632 | Chesapeake Utilities Corp. | 26 | ||||||
2,767 | New Jersey Resources Corp. | 119 | ||||||
3,057 | Nicor, Inc. | 153 | ||||||
1,848 | Northwest Natural Gas Co. | 86 | ||||||
4,880 | Piedmont Natural Gas Co., Inc. | 136 | ||||||
2,020 | South Jersey Industries, Inc. | 107 | ||||||
3,109 | Southwest Gas Corp. | 114 | ||||||
1,526 | The Laclede Group, Inc. | 56 | ||||||
3,476 | WGL Holdings, Inc. | 124 | ||||||
921 | ||||||||
General Merchandise Stores — 0.05% |
| |||||||
2,923 | 99 Cents Only Stores (a) | 47 | ||||||
2,713 | Fred’s, Inc., Class – A | 37 | ||||||
400 | Gordmans Stores, Inc. (a) | 7 | ||||||
1,960 | Tuesday Morning Corp. (a) | 10 | ||||||
101 | ||||||||
Gold — 0.15% |
| |||||||
4,800 | Allied Nevada Gold Corp. (a) | 126 | ||||||
4,100 | Capital Gold Corp. (a) | 21 | ||||||
16,500 | Golden Star Resources Ltd. (a) | 76 | ||||||
5,300 | Jaguar Mining, Inc. (a) | 38 | ||||||
5,700 | U.S. Gold Corp. (a) | 46 | ||||||
307 | ||||||||
Health Care Distributors — 0.14% |
| |||||||
980 | Chindex International, Inc. (a) | 16 | ||||||
800 | MWI Veterinary Supply, Inc. (a) | 50 | ||||||
4,111 | Owens & Minor, Inc. | 121 | ||||||
2,100 | Pharmerica Corp. (a) | 24 | ||||||
3,700 | PSS World Medical, Inc. (a) | 84 | ||||||
295 | ||||||||
Health Care Equipment — 0.85% |
| |||||||
1,400 | Abaxis, Inc. (a) | 38 | ||||||
2,100 | ABIOMED, Inc. (a) | 20 | ||||||
3,400 | Accuray, Inc. (a) | 23 | ||||||
3,600 | Alphatec Holdings, Inc. (a) | 10 |
See accompanying notes to financial statements
88
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Health Care Equipment (continued) | ||||||||
4,800 | American Medical Systems Holdings, Inc. (a) | $ | 91 | |||||
1,725 | AngioDynamics, Inc. (a) | 27 | ||||||
1,700 | ArthroCare Corp. (a) | 53 | ||||||
877 | Cantel Medical Corp. | 21 | ||||||
2,000 | Conceptus, Inc. (a) | 28 | ||||||
1,946 | CONMED Corp. (a) | 51 | ||||||
1,798 | CryoLife, Inc. (a) | 10 | ||||||
715 | Cutera, Inc. (a) | 6 | ||||||
1,700 | Cyberonics, Inc. (a) | 53 | ||||||
2,900 | Delcath Systems, Inc. (a) | 28 | ||||||
3,950 | DexCom, Inc. (a) | 54 | ||||||
600 | Dynavox, Inc., Class – A (a) | 3 | ||||||
500 | Exactech, Inc. (a) | 9 | ||||||
1,489 | Greatbatch, Inc. (a) | 36 | ||||||
3,000 | Hansen Medical, Inc. (a) | 4 | ||||||
600 | HeartWare International, Inc. (a) | 53 | ||||||
2,700 | Insulet Corp. (a) | 42 | ||||||
1,300 | Integra LifeSciences Holdings Corp. (a) | 61 | ||||||
1,919 | Invacare Corp. | 58 | ||||||
1,100 | IRIS International, Inc. (a) | 11 | ||||||
500 | Kensey Nash Corp. (a) | 14 | ||||||
2,000 | MAKO Surgical Corp. (a) | 30 | ||||||
3,300 | Masimo Corp. | 96 | ||||||
1,700 | MELA Sciences, Inc. (a) | 6 | ||||||
2,600 | Meridian Bioscience, Inc. | 60 | ||||||
1,900 | Natus Medical, Inc. (a) | 27 | ||||||
2,500 | NuVasive, Inc. (a) | 64 | ||||||
1,700 | NxStage Medical, Inc. (a) | 42 | ||||||
1,100 | Orthofix International NV (a) | 32 | ||||||
4,500 | Orthovita, Inc. (a) | 9 | ||||||
1,259 | Palomar Medical Technologies, Inc. (a) | 18 | ||||||
1,400 | Quidel Corp. (a) | 20 | ||||||
2,100 | Sirona Dental Systems, Inc. (a) | 88 | ||||||
4,400 | Solta Medical, Inc. (a) | 13 | ||||||
900 | SonoSite, Inc. (a) | 28 | ||||||
2,000 | Stereotaxis, Inc. (a) | 8 | ||||||
3,800 | STERIS Corp. | 139 | ||||||
1,200 | SurModics, Inc. (a) | 14 | ||||||
2,464 | Symmetry Medical, Inc. (a) | 23 | ||||||
2,500 | Syneron Medical Ltd. (a) | 25 | ||||||
800 | Synovis Life Technologies, Inc. (a) | 13 | ||||||
2,200 | The Spectranetics Corp. (a) | 11 | ||||||
3,016 | TomoTherapy, Inc. (a) | 11 | ||||||
3,200 | Volcano Corp. (a) | 87 | ||||||
2,600 | Wright Medical Group, Inc. (a) | 40 | ||||||
331 | Young Innovations, Inc. | 11 | ||||||
1,350 | Zoll Medical Corp. (a) | 50 | ||||||
1,769 | ||||||||
Shares | Security | Value (000) | ||||||
Health Care Facilities — 0.23% |
| |||||||
2,061 | AmSurg Corp. (a) | $ | 43 | |||||
685 | Assisted Living Concepts, Inc., Class – A (a) | 22 | ||||||
1,696 | Capital Senior Living Corp. (a) | 11 | ||||||
1,300 | Emeritus Corp. (a) | 26 | ||||||
2,200 | Five Star Quality Care, Inc. (a) | 16 | ||||||
1,802 | Hanger Orthopedic Group, Inc. (a) | 38 | ||||||
6,000 | HealthSouth Corp. (a) | 124 | ||||||
2,563 | Kindred Healthcare, Inc. (a) | 47 | ||||||
1,300 | LCA-Vision, Inc. (a) | 8 | ||||||
1,318 | MedCath Corp. (a) | 19 | ||||||
599 | National Healthcare Corp. | 28 | ||||||
3,464 | Select Medical Holdings Corp. (a) | 25 | ||||||
1,134 | Skilled Healthcare Group, Inc., Class – A (a) | 10 | ||||||
3,800 | Sunrise Senior Living, Inc. (a) | 21 | ||||||
900 | The Ensign Group, Inc. | 22 | ||||||
600 | U.S. Physical Therapy, Inc. (a) | 12 | ||||||
472 | ||||||||
Health Care Services — 0.45% |
| |||||||
800 | Accretive Health, Inc. (a) | 13 | ||||||
700 | Air Methods Corp. (a) | 39 | ||||||
1,900 | Alliance HealthCare Services, Inc. (a) | 8 | ||||||
2,812 | Allied Healthcare International, Inc. (a) | 7 | ||||||
500 | Almost Family, Inc. (a) | 19 | ||||||
1,800 | Amedisys, Inc. (a) | 60 | ||||||
1,060 | American Dental Partners, Inc. (a) | 14 | ||||||
2,500 | AMN Healthcare Services, Inc. (a) | 15 | ||||||
1,500 | Bio-Reference Laboratories, Inc. (a) | 33 | ||||||
2,700 | BioScrip, Inc. (a) | 14 | ||||||
1,200 | Cardionet, Inc. (a) | 6 | ||||||
2,400 | Catalyst Health Solutions, Inc. (a) | 112 | ||||||
1,500 | Chemed Corp. | 95 | ||||||
1,794 | Continucare Corp. (a) | 8 | ||||||
400 | CorVel Corp. (a) | 19 | ||||||
1,899 | Cross Country Healthcare, Inc. (a) | 16 | ||||||
800 | ExamWorks Group, Inc. (a) | 15 | ||||||
1,100 | Genoptix, Inc. (a) | 21 | ||||||
1,940 | Gentiva Health Services, Inc. (a) | 52 | ||||||
2,462 | Healthways, Inc. (a) | 28 | ||||||
1,700 | HMS Holdings Corp. (a) | 110 | ||||||
1,000 | IPC The Hospitalist Co., Inc. (a) | 39 | ||||||
600 | Landauer, Inc. | 36 | ||||||
1,000 | LHC Group, Inc. (a) | 30 | ||||||
100 | National Research Corp. | 4 | ||||||
500 | PDI, Inc. (a) | 5 | ||||||
900 | Providence Service Corp. (a) | 15 | ||||||
1,692 | RehabCare Group, Inc. (a) | 40 | ||||||
1,300 | Rural/Metro Corp. (a) | 19 | ||||||
1,562 | Sun Healthcare Group, Inc. (a) | 20 | ||||||
1,000 | Team Health Holdings, Inc. (a) | 16 | ||||||
928 | ||||||||
See accompanying notes to financial statements
89
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Health Care Supplies — 0.30% |
| |||||||
3,800 | Align Technology, Inc. (a) | $ | 74 | |||||
500 | Alimera Sciences, Inc. (a) | 5 | ||||||
4,900 | Antares Pharma, Inc. (a) | 8 | ||||||
100 | Atrion Corp. | 18 | ||||||
2,700 | Cerus Corp. (a) | 7 | ||||||
567 | Cynosure, Inc. (a) | 6 | ||||||
3,300 | Endologix, Inc. (a) | 24 | ||||||
1,600 | Haemonetics Corp. (a) | 101 | ||||||
800 | ICU Medical, Inc. (a) | 29 | ||||||
4,500 | Immucor, Inc. (a) | 89 | ||||||
1,012 | Medical Action Industries, Inc. (a) | 10 | ||||||
2,000 | Merit Medical Systems, Inc. (a) | 32 | ||||||
1,400 | Neogen Corp. (a) | 57 | ||||||
3,100 | OraSure Technologies, Inc. (a) | 18 | ||||||
600 | Rochester Medical Corp. (a) | 7 | ||||||
4,302 | RTI Biologics, Inc. (a) | 11 | ||||||
2,400 | STAAR Surgical Co. (a) | 15 | ||||||
3,200 | Unilife Corp. (a) | 17 | ||||||
1,100 | Vascular Solutions, Inc. (a) | 13 | ||||||
2,100 | West Pharmaceutical Services, Inc. | 86 | ||||||
627 | ||||||||
Health Care Technology — 0.17% |
| |||||||
2,100 | athenahealth, Inc. (a) | 86 | ||||||
600 | Computer Programs & Systems, Inc. | 28 | ||||||
2,800 | MedAssets, Inc. (a) | 56 | ||||||
1,200 | Medidata Solutions, Inc. (a) | 29 | ||||||
800 | MedQuist, Inc. | 7 | ||||||
3,500 | Merge Healthcare, Inc. (a) | 13 | ||||||
2,100 | Omnicell, Inc. (a) | 30 | ||||||
1,200 | Quality Systems, Inc. | 84 | ||||||
600 | Transcend Services, Inc. (a) | 12 | ||||||
1,045 | Vital Images, Inc. (a) | 15 | ||||||
360 | ||||||||
Heavy Electrical Equipment — 0.05% |
| |||||||
800 | AZZ, Inc. | 32 | ||||||
6,100 | Broadwind Energy, Inc. (a) | 14 | ||||||
16,200 | Capstone Turbine Corp. (a) | 16 | ||||||
1,200 | PowerSecure International, Inc. (a) | 9 | ||||||
7,650 | SatCon Technology Corp. (a) | 34 | ||||||
105 | ||||||||
Home Entertainment Software — 0.06% |
| |||||||
900 | Renaissance Learning, Inc. | 10 | ||||||
700 | Rosetta Stone, Inc. (a) | 15 | ||||||
800 | SRS Labs, Inc. (a) | 7 | ||||||
4,916 | Take-Two Interactive Software, Inc. (a) | 60 | ||||||
4,575 | THQ, Inc. (a) | 28 | ||||||
120 | ||||||||
Shares | Security | Value (000) | ||||||
Home Furnishings — 0.05% |
| |||||||
1,672 | Ethan Allen Interiors, Inc. | $ | 33 | |||||
3,455 | Furniture Brands International, Inc. (a) | 18 | ||||||
722 | Hooker Furniture Corp. | 10 | ||||||
700 | Kid Brands, Inc. (a) | 6 | ||||||
3,389 | La-Z-Boy, Inc. (a) | 31 | ||||||
4,183 | Sealy Corp. (a) | 12 | ||||||
110 | ||||||||
Home Improvement Retail — 0.02% |
| |||||||
1,400 | Lumber Liquidators Holdings, Inc. (a) | 35 | ||||||
Homebuilding — 0.11% |
| |||||||
5,183 | Beazer Homes USA, Inc. (a) | 28 | ||||||
714 | Brookfield Homes Corp. (a) | 7 | ||||||
446 | Cavco Industries, Inc. (a) | 21 | ||||||
3,550 | Hovnanian Enterprises, Inc., Class - A (a) | 14 | ||||||
1,095 | M/I Homes, Inc. (a) | 17 | ||||||
2,103 | Meritage Homes Corp. (a) | 47 | ||||||
498 | Skyline Corp. | 13 | ||||||
6,840 | Standard Pacific Corp. (a) | 31 | ||||||
2,954 | The Ryland Group, Inc. | 50 | ||||||
228 | ||||||||
Homefurnishing Retail — 0.07% |
| |||||||
1,206 | Haverty Furniture Cos., Inc. | 16 | ||||||
1,100 | Kirkland’s, Inc. (a) | 15 | ||||||
6,700 | Pier 1 Imports, Inc. (a) | 70 | ||||||
3,700 | Select Comfort Corp. (a) | 34 | ||||||
135 | ||||||||
Hotels, Resorts & Cruise Lines — 0.13% |
| |||||||
1,300 | Ambassadors Group, Inc. | 15 | ||||||
1,069 | Bluegreen Corp. (a) | 3 | ||||||
2,313 | Gaylord Entertainment Co. (a) | 83 | ||||||
2,600 | Interval Leisure Group, Inc. (a) | 42 | ||||||
1,662 | Morgans Hotel Group Co. (a) | 15 | ||||||
6,850 | Orient-Express Hotels Ltd., Class – A (a) | 89 | ||||||
992 | Red Lion Hotels Corp. (a) | 8 | ||||||
1,272 | The Marcus Corp. | 17 | ||||||
272 | ||||||||
Household Appliances — 0.05% |
| |||||||
2,195 | Helen of Troy Ltd. (a) | 65 | ||||||
1,300 | iRobot Corp. (a) | 33 | ||||||
98 | ||||||||
Household Products — 0.06% |
| |||||||
4,087 | Central Garden & Pet Co., Class – A (a) | 40 | ||||||
310 | Oil-Dri Corp. of America | 7 | ||||||
1,200 | Spectrum Brands Holdings, Inc. (a) | 37 | ||||||
1,058 | WD-40 Co. | 43 | ||||||
127 | ||||||||
Housewares & Specialties — 0.04% |
| |||||||
2,619 | American Greetings Corp., Class – A | 58 |
See accompanying notes to financial statements
90
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Housewares & Specialties (continued) | ||||||||
357 | Blyth, Inc. | $ | 12 | |||||
550 | CSS Industries, Inc. | 11 | ||||||
600 | Lifetime Brands, Inc. (a) | 9 | ||||||
90 | ||||||||
Human Resource & Employment Services — 0.18% |
| |||||||
1,400 | Administaff, Inc. | 41 | ||||||
564 | Barrett Business Services, Inc. | 9 | ||||||
716 | CDI Corp. | 13 | ||||||
526 | GP Strategies Corp. (a) | 5 | ||||||
1,193 | Heidrick & Struggles International, Inc. | 34 | ||||||
2,200 | Hudson Highland Group, Inc. (a) | 13 | ||||||
1,726 | Kelly Services, Inc., Class – A (a) | 33 | ||||||
2,000 | Kforce, Inc. (a) | 32 | ||||||
3,068 | Korn/Ferry International (a) | 71 | ||||||
2,162 | On Assignment, Inc. (a) | 18 | ||||||
3,725 | SFN Group, Inc. (a) | 36 | ||||||
2,894 | TrueBlue, Inc. (a) | 52 | ||||||
1,117 | Volt Information Sciences, Inc. (a) | 10 | ||||||
367 | ||||||||
Hypermarkets & Super Centers — 0.02% |
| |||||||
1,000 | PriceSmart, Inc. | 38 | ||||||
Independent Power Producers & Energy Traders — 0.02% |
| |||||||
1,300 | American DG Energy, Inc. (a) | 4 | ||||||
7,100 | Dynegy, Inc. (a) | 40 | ||||||
44 | ||||||||
Industrial Conglomerates — 0.09% |
| |||||||
2,243 | Kimball International, Inc., Class – B | 15 | ||||||
1,400 | Libbey, Inc. (a) | 21 | ||||||
1,000 | Raven Industries, Inc. | 48 | ||||||
21 | Seaboard Corp. | 42 | ||||||
798 | Standex International Corp. | 24 | ||||||
1,582 | Tredegar Corp. | 31 | ||||||
145 | United Capital Corp. (a) | 5 | ||||||
200 | United States Lime & Minerals, Inc. (a) | 8 | ||||||
194 | ||||||||
Industrial Machinery — 0.91% |
| |||||||
1,100 | 3D Systems Corp. (a) | 35 | ||||||
4,300 | Actuant Corp., Class – A | 115 | ||||||
1,739 | Albany International Corp., Class – A | 41 | ||||||
1,700 | Altra Holdings, Inc. (a) | 34 | ||||||
492 | Ampco-Pittsburgh Corp. | 14 | ||||||
3,107 | Barnes Group, Inc. | 64 | ||||||
3,000 | Blount International, Inc. (a) | 47 | ||||||
3,342 | Briggs & Stratton Corp. | 66 | ||||||
1,978 | Chart Industries, Inc. (a) | 67 | ||||||
1,099 | CIRCOR International, Inc. | 47 |
Shares | Security | Value (000) | ||||||
Industrial Machinery (continued) | ||||||||
3,226 | CLARCOR, Inc. | $ | 138 | |||||
1,600 | Colfax Corp. (a) | 29 | ||||||
1,325 | Columbus McKinnon Corp. (a) | 27 | ||||||
800 | Dynamic Materials Corp. | 18 | ||||||
2,500 | Energy Recovery, Inc. (a) | 9 | ||||||
1,276 | ENPRO Industries, Inc. (a) | 53 | ||||||
1,800 | ESCO Technologies, Inc. | 68 | ||||||
3,110 | Flow International Corp. (a) | 13 | ||||||
4,800 | Force Protection, Inc. (a) | 26 | ||||||
600 | Graham Corp. | 12 | ||||||
1,800 | John Bean Technologies Corp. | 36 | ||||||
818 | Kadant, Inc. (a) | 19 | ||||||
2,100 | Kaydon Corp. | 86 | ||||||
702 | L.B. Foster Co., Class – A (a) | 29 | ||||||
1,200 | Lydall, Inc. (a) | 10 | ||||||
923 | Met-Pro Corp. | 11 | ||||||
2,518 | Mueller Industries, Inc. | 82 | ||||||
9,917 | Mueller Water Products, Inc., Class – A | 41 | ||||||
2,200 | Nordson Corp. | 202 | ||||||
200 | Omega Flex, Inc. (a) | 3 | ||||||
1,000 | PMFG, Inc. (a) | 16 | ||||||
1,400 | RBC Bearings, Inc. (a) | 55 | ||||||
1,835 | Robbins & Myers, Inc. | 66 | ||||||
800 | Sun Hydraulics Corp. | 30 | ||||||
1,245 | Tecumseh Products Co., Class – A (a) | 16 | ||||||
1,200 | Tennant Co. | 46 | ||||||
800 | The Gorman-Rupp Co. | 26 | ||||||
1,100 | The Middleby Corp. (a) | 93 | ||||||
1,000 | TriMas Corp. (a) | 21 | ||||||
2,021 | Watts Water Technologies, Inc., Class – A | 74 | ||||||
400 | Xerium Technologies, Inc. (a) | 6 | ||||||
1,891 | ||||||||
Industrial REITs — 0.16% |
| |||||||
14,819 | DCT Industrial Trust, Inc. | 79 | ||||||
2,801 | DuPont Fabros Technology, Inc. | 60 | ||||||
1,788 | EastGroup Properties, Inc. | 76 | ||||||
4,312 | First Industrial Realty Trust, Inc. (a) | 38 | ||||||
3,268 | First Potomac Realty Trust | 55 | ||||||
1,582 | Monmouth Real Estate Investment Corp., | 13 | ||||||
700 | Terreno Realty Corp. (a) | 12 | ||||||
333 | ||||||||
Insurance Brokers — 0.03% |
| |||||||
1,700 | Crawford & Co., Class – B (a) | 6 | ||||||
1,400 | eHealth, Inc. (a) | 20 | ||||||
3,070 | National Financial Partners Corp. (a) | 41 | ||||||
67 | ||||||||
Integrated Oil & Gas — 0.04% |
| |||||||
11,600 | Kodiak Oil & Gas Corp. (a) | 77 | ||||||
See accompanying notes to financial statements
91
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Integrated Telecommunication Services — 0.12% |
| |||||||
2,800 | Alaska Communications Systems Group, Inc. | $ | 31 | |||||
624 | Atlantic Tele-Network, Inc. | 24 | ||||||
1,800 | Cbeyond, Inc. (a) | 28 | ||||||
12,805 | Cincinnati Bell, Inc. (a) | 36 | ||||||
1,726 | Consolidated Communications Holdings, Inc. | 33 | ||||||
2,846 | General Communication, Inc., Class – A (a) | 36 | ||||||
1,000 | IDT Corp., Class – B | 26 | ||||||
1,900 | NTELOS Holdings Corp. | 36 | ||||||
250 | ||||||||
Internet Retail — 0.11% |
| |||||||
1,649 | 1-800-FLOWERS.COM, Inc., Class – A (a) | 4 | ||||||
800 | Blue Nile, Inc. (a) | 46 | ||||||
6,300 | drugstore.com, Inc. (a) | 14 | ||||||
1,700 | NutriSystem, Inc. | 36 | ||||||
1,400 | Orbitz Worldwide, Inc. (a) | 8 | ||||||
1,000 | Overstock.com, Inc. (a) | 16 | ||||||
1,500 | PetMed Express, Inc. | 27 | ||||||
1,682 | Shutterfly, Inc. (a) | 59 | ||||||
700 | Stamps.com, Inc. | 9 | ||||||
900 | U.S. Auto Parts Network, Inc. (a) | 7 | ||||||
1,000 | Vitacost.com, Inc. (a) | 6 | ||||||
232 | ||||||||
Internet Software & Services — 0.86% |
| |||||||
1,150 | Ancestry.Com, Inc. (a) | 33 | ||||||
10,000 | Art Technology Group, Inc. (a) | 60 | ||||||
2,266 | CDC Corp., Class – A (a) | 8 | ||||||
2,800 | Cogent Communications Group, Inc. (a) | 40 | ||||||
1,500 | comScore, Inc. (a) | 33 | ||||||
1,800 | Constant Contact, Inc. (a) | 56 | ||||||
2,600 | DealerTrack Holdings, Inc. (a) | 52 | ||||||
1,100 | Dice Holdings, Inc. (a) | 16 | ||||||
2,690 | Digital River, Inc. (a) | 93 | ||||||
7,655 | EarthLink, Inc. | 66 | ||||||
400 | Envestnet, Inc. (a) | 7 | ||||||
1,142 | Global Sources Ltd. (a) | 11 | ||||||
4,200 | GSI Commerce, Inc. (a) | 97 | ||||||
2,202 | InfoSpace, Inc. (a) | 18 | ||||||
3,503 | Internap Network Services Corp. (a) | 21 | ||||||
2,342 | Internet Capital Group, Inc. (a) | 33 | ||||||
800 | Intralinks Holdings, Inc. (a) | 15 | ||||||
2,978 | j2 Global Communications, Inc. (a) | 86 | ||||||
789 | Keynote Systems, Inc. | 11 | ||||||
1,700 | KIT Digital, Inc. (a) | 27 | ||||||
3,400 | Limelight Networks, Inc. (a) | 20 | ||||||
4,000 | Lionbridge Technologies, Inc. (a) | 15 | ||||||
900 | Liquidity Services, Inc. (a) | 13 |
Shares | Security | Value (000) | ||||||
Internet Software & Services (continued) | ||||||||
2,800 | LivePerson, Inc. (a) | $ | 32 | |||||
1,100 | Local.com Corp. (a) | 7 | ||||||
1,000 | LogMeln, Inc. (a) | 44 | ||||||
1,250 | LoopNet, Inc. (a) | 14 | ||||||
1,106 | Marchex, Inc., Class – B | 10 | ||||||
200 | Mediamind Technologies, Inc. (a) | 3 | ||||||
2,841 | ModusLink Global Solutions, Inc. (a) | 19 | ||||||
10,400 | Move, Inc. (a) | 27 | ||||||
3,700 | NIC, Inc. | 36 | ||||||
1,000 | OpenTable, Inc. (a) | 70 | ||||||
5,700 | Openwave Systems, Inc. (a) | 12 | ||||||
1,385 | Perficient, Inc. (a) | 17 | ||||||
700 | QuinStreet, Inc. (a) | 13 | ||||||
6,200 | Rackspace Hosting, Inc. (a) | 195 | ||||||
5,729 | RealNetworks, Inc. (a) | 24 | ||||||
1,350 | RightNow Technologies, Inc. (a) | 32 | ||||||
3,600 | S1 Corp. (a) | 25 | ||||||
1,900 | Saba Software, Inc. (a) | 12 | ||||||
2,400 | SAVVIS, Inc. (a) | 61 | ||||||
300 | SPS Commerce, Inc. (a) | 5 | ||||||
3,100 | Support.com, Inc. (a) | 20 | ||||||
3,800 | Terremark Worldwide, Inc. (a) | 49 | ||||||
2,100 | The Knot, Inc. (a) | 21 | ||||||
300 | Travelzoo, Inc. (a) | 12 | ||||||
5,994 | United Online, Inc. | 40 | ||||||
5,224 | ValueClick, Inc. (a) | 84 | ||||||
1,922 | VASCO Data Security | 16 | ||||||
1,100 | Vocus, Inc. (a) | 30 | ||||||
3,800 | Zix Corp. (a) | 16 | ||||||
1,777 | ||||||||
Investment Banking & Brokerage — 0.36% |
| |||||||
3,800 | BGC Partners, Inc., Class – A | 32 | ||||||
2,446 | Cowen Group, Inc., Class – A (a) | 11 | ||||||
1,800 | Duff & Phelps Corp., Class – A | 30 | ||||||
1,002 | Evercore Partners, Inc., Class – A | 34 | ||||||
3,672 | FBR Capital Markets Corp. (a) | 14 | ||||||
4,500 | GFI Group, Inc. | 21 | ||||||
5,400 | Gleacher & Co., Inc. (a) | 13 | ||||||
888 | International Assets Holding Corp. (a) | 21 | ||||||
2,900 | Investment Technology Group, Inc. (a) | 48 | ||||||
2,309 | KBW, Inc. | 64 | ||||||
6,647 | Knight Capital Group, Inc., Class – A (a) | 92 | ||||||
2,400 | LaBranche & Co., Inc. (a) | 9 | ||||||
6,300 | Ladenburg Thalmann Financial | 7 | ||||||
8,168 | MF Global Holdings Ltd. (a) | 68 | ||||||
739 | Oppenheimer Holdings, Inc., Class – A | 19 | ||||||
2,700 | optionsXpress Holdings, Inc. | 42 | ||||||
1,062 | Piper Jaffray Cos., Inc. (a) | 37 | ||||||
1,468 | Sanders Morris Harris Group, Inc. | 11 |
See accompanying notes to financial statements
92
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Investment Banking & Brokerage (continued) |
| |||||||
2,253 | Stifel Financial Corp. (a) | $ | 140 | |||||
2,294 | SWS Group, Inc. | 12 | ||||||
3,048 | TradeStation Group, Inc. (a) | 21 | ||||||
746 | ||||||||
IT Consulting & Other Services — 0.34% |
| |||||||
4,400 | Acxiom Corp. (a) | 75 | ||||||
2,051 | CACI International, Inc., Class – A (a) | 109 | ||||||
4,567 | CIBER, Inc. (a) | 21 | ||||||
1,128 | Computer Task Group, Inc. (a) | 12 | ||||||
900 | Forrester Research, Inc. | 32 | ||||||
1,550 | iGATE Corp. | 31 | ||||||
977 | Integral Systems, Inc. (a) | 10 | ||||||
1,411 | ManTech International Corp., Class – A (a) | 58 | ||||||
1,100 | MAXIMUS, Inc. | 72 | ||||||
400 | NCI, Inc., Class – A (a) | 9 | ||||||
6,600 | Sapient Corp. | 80 | ||||||
3,010 | SRA International, Inc., Class – A (a) | 62 | ||||||
800 | Syntel, Inc. | 38 | ||||||
2,073 | The Hackett Group, Inc. (a) | 7 | ||||||
634 | Tier Technologies, Inc., Class – B (a) | 4 | ||||||
2,881 | Unisys Corp. (a) | 75 | ||||||
778 | Virtusa Corp. (a) | 13 | ||||||
708 | ||||||||
Leisure Facilities — 0.12% |
| |||||||
2,717 | Life Time Fitness, Inc. (a) | 111 | ||||||
886 | Speedway Motorsports, Inc. | 14 | ||||||
2,435 | Vail Resorts, Inc. (a) | 127 | ||||||
252 | ||||||||
Leisure Products — 0.25% |
| |||||||
800 | Arctic Cat, Inc. (a) | 12 | ||||||
5,700 | Brunswick Corp. | 107 | ||||||
4,563 | Callaway Golf Co. | 37 | ||||||
1,839 | JAKKS Pacific, Inc. (a) | 34 | ||||||
300 | Johnson Outdoors, Inc., Class – A (a) | 4 | ||||||
2,243 | Leapfrog Enterprises, Inc. (a) | 12 | ||||||
700 | Marine Products Corp. (a) | 5 | ||||||
2,000 | Polaris Industries, Inc. | 156 | ||||||
3,200 | Pool Corp. | 72 | ||||||
1,388 | RC2 Corp. (a) | 30 | ||||||
3,800 | Smith & Wesson Holding Corp. (a) | 14 | ||||||
477 | Steinway Musical Instruments, Inc. (a) | 9 | ||||||
1,300 | Sturm, Ruger & Co., Inc. | 20 | ||||||
800 | Summer Infant, Inc. (a) | 6 | ||||||
518 | ||||||||
Life & Health Insurance — 0.19% |
| |||||||
3,859 | American Equity Investment Life Holding Co. | 48 |
Shares | Security | Value (000) | ||||||
Life & Health Insurance (continued) | ||||||||
2,536 | Citizens, Inc. (a) | $ | 19 | |||||
15,523 | CNO Financial Group, Inc. (a) | 105 | ||||||
3,283 | Delphi Financial Group, Inc., Class – A | 95 | ||||||
945 | FBL Financial Group, Inc., Class – A | 27 | ||||||
290 | Kansas City Life Insurance Co. | 10 | ||||||
159 | National Western Life Insurance Co., Class – A | 26 | ||||||
1,306 | Presidential Life Corp. | 13 | ||||||
1,700 | Primerica, Inc. | 41 | ||||||
7,034 | The Phoenix Cos., Inc. (a) | 18 | ||||||
402 | ||||||||
Life Sciences Tools & Services — 0.27% |
| |||||||
4,402 | Affymetrix, Inc. (a) | 22 | ||||||
1,608 | Albany Molecular Research, Inc. (a) | 9 | ||||||
4,600 | Bruker Corp. (a) | 76 | ||||||
3,000 | Caliper Life Sciences, Inc. (a) | 19 | ||||||
2,044 | Cambrex Corp. (a) | 11 | ||||||
1,100 | Dionex Corp. (a) | 130 | ||||||
3,300 | eResearchTechnology, Inc. (a) | 24 | ||||||
7,200 | Exelixis, Inc. (a) | 59 | ||||||
500 | Furiex Pharmaceuticals, Inc. (a) | 7 | ||||||
811 | Kendle International, Inc. (a) | 9 | ||||||
2,400 | Luminex Corp. (a) | 44 | ||||||
900 | Pacific Biosciences of California, Inc. (a) | 14 | ||||||
3,700 | PAREXEL International Corp. (a) | 79 | ||||||
2,400 | PURE Bioscience (a) | 5 | ||||||
5,600 | Sequenom, Inc. (a) | 45 | ||||||
553 | ||||||||
Managed Health Care — 0.32% |
| |||||||
600 | America Service Group, Inc. | 9 | ||||||
3,500 | AMERIGROUP Corp. (a) | 154 | ||||||
3,293 | Centene Corp. (a) | 84 | ||||||
3,899 | HealthSpring, Inc. (a) | 103 | ||||||
2,267 | Magellan Health Services, Inc. (a) | 107 | ||||||
2,700 | Metropolitan Health Networks, Inc. (a) | 12 | ||||||
1,006 | Molina Heathcare, Inc. (a) | 28 | ||||||
1,469 | Triple-S Management Corp., Class – B (a) | 28 | ||||||
2,247 | Universal American Corp. | 46 | ||||||
2,855 | WellCare Health Plans, Inc. (a) | 86 | ||||||
657 | ||||||||
Marine — 0.11% | ||||||||
1,100 | Baltic Trading Ltd. | 11 | ||||||
4,615 | Eagle Bulk Shipping, Inc. (a) | 23 | ||||||
2,700 | Excel Maritime Carriers Ltd. (a) | 15 | ||||||
1,812 | Genco Shipping & Trading Ltd. (a) | 26 | ||||||
1,985 | Horizon Lines, Inc., Class – A | 9 | ||||||
363 | International Shipholding Corp. | 9 | ||||||
1,700 | Overseas Shipholding Group, Inc. | 60 | ||||||
2,999 | Ship Finance International Ltd. | 65 | ||||||
1,633 | Ultrapetrol Bahamas Ltd. (a) | 11 | ||||||
229 | ||||||||
See accompanying notes to financial statements
93
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Marine Ports & Services — 0.01% |
| |||||||
715 | CAI International, Inc. (a) | $ | 14 | |||||
Metal & Glass Containers — 0.09% |
| |||||||
306 | AEP Industries, Inc. (a) | 8 | ||||||
1,100 | Graham Packaging Co., Inc. (a) | 14 | ||||||
2,634 | Myers Industries, Inc. | 26 | ||||||
3,584 | Silgan Holdings, Inc. | 128 | ||||||
176 | ||||||||
Mortgage REITs — 0.49% | ||||||||
3,426 | American Capital Agency Corp. | 98 | ||||||
8,436 | Anworth Mortgage Asset Corp. | 59 | ||||||
1,291 | Apollo Commercial Real Estate Finance, Inc. | 21 | ||||||
4,696 | Capstead Mortgage Corp. | 59 | ||||||
1,074 | Colony Financial, Inc. | 22 | ||||||
827 | CreXus Investment Corp. | 11 | ||||||
3,558 | Cypress Sharpridge Investments, Inc. | 46 | ||||||
1,447 | Dynex Capital, Inc. | 16 | ||||||
3,111 | Hatteras Financial Corp. | 94 | ||||||
2,671 | Invesco Mortgage Capital, Inc. | 58 | ||||||
6,257 | iStar Financial, Inc. (a) | 49 | ||||||
18,978 | MFA Financial, Inc. | 155 | ||||||
4,300 | Newcastle Investment Corp. (a) | 29 | ||||||
4,640 | NorthStar Realty Finance Corp. | 22 | ||||||
1,177 | Pennymac Mortgage Investment Trust | 21 | ||||||
7,286 | RAIT Financial Trust (a) | 16 | ||||||
5,479 | Redwood Trust, Inc. | 82 | ||||||
3,491 | Resource Capital Corp. | 26 | ||||||
3,322 | Starwood Property Trust, Inc. | 71 | ||||||
1,800 | Two Harbors Investment Corp. | 18 | ||||||
1,800 | Walter Investment Management Corp. | 32 | ||||||
1,005 | ||||||||
Movies & Entertainment — 0.17% | ||||||||
959 | Ascent Media Corp., Class – A (a) | 37 | ||||||
1,000 | Ballantyne Strong, Inc. (a) | 8 | ||||||
645 | Carmike Cinemas, Inc. (a) | 5 | ||||||
3,912 | Cinemark Holdings, Inc. | 67 | ||||||
3,200 | CKX, Inc. (a) | 13 | ||||||
4,500 | Lions Gate Entertainment Corp. (a) | 29 | ||||||
9,811 | Live Nation, Inc. (a) | 112 | ||||||
690 | LodgeNet Interactive Corp. (a) | 3 | ||||||
1,900 | Playboy Enterprises, Inc., Class – B (a) | 10 | ||||||
600 | Rentrak Corp. (a) | 18 | ||||||
3,100 | Warner Music Group Corp. (a) | 18 | ||||||
1,758 | World Wrestling Entertainment, Inc., | 25 | ||||||
345 | ||||||||
Multi-line Insurance — 0.02% | ||||||||
2,568 | Horace Mann Educators Corp. | 46 | ||||||
Shares | Security | Value (000) | ||||||
Multi-Sector Holdings — 0.05% | ||||||||
2,552 | Compass Diversified Holdings, Inc. | $ | 45 | |||||
1,657 | PICO Holdings, Inc. (a) | 53 | ||||||
98 | ||||||||
Multi-Utilities — 0.14% | ||||||||
2,763 | Black Hills Corp. | 83 | ||||||
1,112 | CH Energy Group, Inc. | 54 | ||||||
2,435 | NorthWestern Corp. | 70 | ||||||
6,114 | PNM Resources, Inc. | 80 | ||||||
287 | ||||||||
Office REITs — 0.33% |
| |||||||
8,881 | BioMed Realty Trust, Inc. | 165 | ||||||
4,910 | Franklin Street Properties Corp. | 70 | ||||||
1,941 | Government Properties Income Trust | 52 | ||||||
4,829 | Highwoods Properties, Inc. | 154 | ||||||
3,696 | Kilroy Realty Corp. | 135 | ||||||
6,872 | Lexington Realty Trust | 55 | ||||||
1,435 | Mission West Properties, Inc. | 9 | ||||||
3,300 | MPG Office Trust, Inc. (a) | 9 | ||||||
1,410 | Parkway Properties, Inc. | 25 | ||||||
674 | ||||||||
Office Services & Supplies — 0.30% |
| |||||||
3,816 | ACCO Brands Corp. (a) | 33 | ||||||
2,146 | American Reprographics Co. (a) | 16 | ||||||
2,200 | APAC Customer Services, Inc. (a) | 13 | ||||||
3,600 | Herman Miller, Inc. | 91 | ||||||
700 | Higher One Holdings, Inc. (a) | 14 | ||||||
2,900 | HNI Corp. | 91 | ||||||
3,250 | Interface, Inc., Class – A | 51 | ||||||
3,000 | Knoll, Inc. | 50 | ||||||
1,645 | Mine Safety Appliances Co. | 51 | ||||||
5,213 | Steelcase, Inc., Class – A | 55 | ||||||
2,700 | Sykes Enterprises, Inc. (a) | 55 | ||||||
1,647 | United Stationers, Inc. (a) | 105 | ||||||
625 | ||||||||
Oil & Gas Drilling — 0.06% |
| |||||||
7,353 | Hercules Offshore, Inc. (a) | 26 | ||||||
7,507 | Parker Drilling Co. (a) | 34 | ||||||
3,761 | Pioneer Drilling Co. (a) | 33 | ||||||
700 | Seahawk Drilling, Inc. (a) | 6 | ||||||
777 | Union Drilling, Inc. (a) | 6 | ||||||
10,328 | Vantage Drilling Co. (a) | 21 | ||||||
126 | ||||||||
Oil & Gas Equipment & Services — 0.74% |
| |||||||
2,469 | Allis-Chalmers Energy, Inc. (a) | 17 | ||||||
1,561 | Basic Energy Services, Inc. (a) | 26 | ||||||
2,490 | Bristow Group, Inc. (a) | 118 | ||||||
6,521 | Cal Dive International, Inc. (a) | 37 | ||||||
1,250 | CARBO Ceramics, Inc. | 129 | ||||||
5,275 | Complete Production Services, Inc. (a) | 156 |
See accompanying notes to financial statements
94
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Oil & Gas Equipment & Services (continued) |
| |||||||
2,200 | Dril-Quip, Inc. (a) | $ | 171 | |||||
500 | Global Geophysical Services, Inc. (a) | 5 | ||||||
7,191 | Global Industries Ltd. (a) | 50 | ||||||
1,023 | Gulf Island Fabrication, Inc. | 29 | ||||||
1,665 | GulfMark Offshore, Inc., Class – A (a) | 51 | ||||||
7,300 | Helix Energy Solutions Group, Inc. (a) | 89 | ||||||
1,472 | Hornbeck Offshore Services, Inc. (a) | 31 | ||||||
8,100 | ION Geophysical Corp. (a) | 69 | ||||||
8,429 | Key Energy Services, Inc. (a) | 109 | ||||||
1,900 | Lufkin Industries, Inc. | 118 | ||||||
1,528 | Matrix Service Co. (a) | 18 | ||||||
751 | Natural Gas Services Group, Inc. (a) | 14 | ||||||
5,791 | Newpark Resources, Inc. (a) | 36 | ||||||
200 | OYO Geospace Corp. (a) | 20 | ||||||
889 | PHI, Inc. (a) | 17 | ||||||
2,750 | RPC, Inc. | 50 | ||||||
877 | T-3 Energy Services, Inc. (a) | 35 | ||||||
2,100 | Tesco Corp. (a) | 33 | ||||||
5,369 | TETRA Technologies, Inc. (a) | 64 | ||||||
3,300 | Willbros Group, Inc. (a) | 32 | ||||||
1,524 | ||||||||
Oil & Gas Exploration & Production — 1.06% |
| |||||||
4,700 | Abraxas Petroleum Corp. (a) | 21 | ||||||
600 | Apco Oil & Gas International, Inc. | 34 | ||||||
1,224 | Approach Resources, Inc. (a) | 28 | ||||||
3,086 | ATP Oil & Gas Corp. (a) | 52 | ||||||
3,471 | Berry Petroleum Co., Class – A | 152 | ||||||
3,161 | Bill Barrett Corp. (a) | 130 | ||||||
6,677 | BPZ Resources, Inc. (a) | 32 | ||||||
7,400 | Brigham Exploration Co. (a) | 202 | ||||||
1,900 | Callon Petroleum Co. (a) | 11 | ||||||
3,300 | CAMAC Energy, Inc. (a) | 7 | ||||||
2,000 | Carrizo Oil & Gas, Inc. (a) | 69 | ||||||
378 | Clayton Williams Energy, Inc. (a) | 32 | ||||||
2,116 | Cloud Peak Energy, Inc. (a) | 49 | ||||||
736 | Contango Oil & Gas Co. | 43 | ||||||
33 | Contango ORE, Inc. (a) | — | ||||||
12,778 | Delta Petroleum Corp. (a) | 10 | ||||||
1,357 | Endeavour International Corp. (a) | 19 | ||||||
2,000 | Energy Partners Ltd. (a) | 30 | ||||||
4,400 | Energy XXI (Bermuda) Ltd. (a) | 122 | ||||||
1,000 | Evolution Petroleum Corp. (a) | 6 | ||||||
2,900 | FX Energy, Inc. (a) | 18 | ||||||
3,900 | Gastar Exploration Ltd. (a) | 17 | ||||||
861 | GeoResources, Inc. (a) | 19 | ||||||
2,160 | GMX Resources, Inc. (a) | 12 | ||||||
1,636 | Goodrich Petroleum Corp. (a) | 29 | ||||||
1,700 | Gulfport Energy Corp. (a) | 37 | ||||||
2,391 | Harvest Natural Resources, Inc. (a) | 29 | ||||||
1,200 | Houston American Energy Corp. | 22 |
Shares | Security | Value (000) | ||||||
Oil & Gas Exploration & Production (continued) |
| |||||||
3,500 | Magnum Hunter Resources Corp. (a) | $ | 25 | |||||
6,100 | McMoRan Exploration Co. (a) | 104 | ||||||
1,200 | Miller Petroleum, Inc. (a) | 6 | ||||||
3,400 | Northern Oil & Gas, Inc. (a) | 92 | ||||||
3,100 | Oasis Petroleum, Inc. (a) | 84 | ||||||
500 | Panhandle Oil & Gas, Inc., Class – A | 14 | ||||||
3,036 | Penn Virginia Corp. | 51 | ||||||
1,555 | Petroleum Development Corp. (a) | 66 | ||||||
3,493 | Petroquest Energy, Inc. (a) | 26 | ||||||
3,500 | RAM Energy Resources, Inc. (a) | 6 | ||||||
2,700 | Resolute Energy Corp. (a) | 40 | ||||||
3,457 | Rosetta Resources, Inc. (a) | 130 | ||||||
2,823 | Stone Energy Corp. (a) | 63 | ||||||
2,860 | Swift Energy Co. (a) | 112 | ||||||
8,700 | TransAtlantic Petroleum Ltd. (a) | 29 | ||||||
3,614 | VAALCO Energy, Inc. (a) | 26 | ||||||
1,319 | Venoco, Inc. (a) | 24 | ||||||
2,232 | W&T Offshore, Inc. | 40 | ||||||
5,135 | Warren Resources, Inc. (a) | 23 | ||||||
2,193 | ||||||||
Oil & Gas Refining & Marketing — 0.17% |
| |||||||
561 | Alon USA Energy, Inc. | 3 | ||||||
3,000 | Clean Energy Fuels Corp. (a) | 42 | ||||||
2,063 | CVR Energy, Inc. (a) | 31 | ||||||
1,189 | Delek US Holdings, Inc. | 9 | ||||||
1,101 | Green Plains Renewable Energy, Inc. (a) | 12 | ||||||
14,400 | Rentech, Inc. (a) | 18 | ||||||
2,304 | Rex Energy Corp. (a) | 31 | ||||||
4,700 | Syntroleum Corp. (a) | 9 | ||||||
3,508 | Western Refining, Inc. (a) | 37 | ||||||
4,500 | World Fuel Services Corp. | 163 | ||||||
355 | ||||||||
Oil & Gas Storage & Transportation — 0.13% |
| |||||||
3,651 | Cheniere Energy, Inc. (a) | 20 | ||||||
2,749 | Crosstex Energy, Inc. | 24 | ||||||
3,313 | DHT Maritime, Inc. | 16 | ||||||
5,330 | General Maritime Corp. | 17 | ||||||
2,389 | Golar LNG Ltd. | 36 | ||||||
1,738 | Knightsbridge Tankers Ltd. | 39 | ||||||
3,131 | Nordic American Tanker Shipping Ltd. | 82 | ||||||
1,000 | Scorpio Tankers, Inc. (a) | 10 | ||||||
2,300 | Teekay Tankers Ltd., Class – A | 28 | ||||||
272 | ||||||||
Packaged Foods & Meats — 0.36% |
| |||||||
3,180 | B&G Foods, Inc., Class – A | 44 | ||||||
700 | Calavo Growers, Inc. | 16 | ||||||
2,947 | Chiquita Brands International, Inc. (a) | 41 | ||||||
1,400 | Diamond Foods, Inc. | 74 | ||||||
2,428 | Dole Food Co., Inc. (a) | 33 | ||||||
375 | Farmer Brothers Co. | 7 |
See accompanying notes to financial statements
95
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Packaged Foods & Meats (continued) |
| |||||||
701 | Harbinger Group, Inc. (a) | $ | 4 | |||||
834 | Imperial Sugar Co. | 11 | ||||||
900 | J&J Snack Foods Corp. | 43 | ||||||
500 | John B. Sanfilippo & Son, Inc. (a) | 6 | ||||||
1,200 | Lancaster Colony Corp. | 69 | ||||||
400 | Lifeway Foods, Inc. (a) | 4 | ||||||
3,400 | Pilgrim’s Pride Corp. (a) | 24 | ||||||
1,500 | Sanderson Farms, Inc. | 59 | ||||||
620 | Seneca Foods Corp., Class – A (a) | 17 | ||||||
4,371 | Smart Balance, Inc. (a) | 19 | ||||||
1,700 | Snyder’s-Lance, Inc. | 40 | ||||||
2,758 | The Hain Celestial Group, Inc. (a) | 75 | ||||||
1,600 | Tootsie Roll Industries, Inc. | 46 | ||||||
2,386 | TreeHouse Foods, Inc. (a) | 122 | ||||||
754 | ||||||||
Paper Packaging — 0.10% |
| |||||||
4,791 | Boise, Inc. | 38 | ||||||
7,899 | Graphic Packaging Holding Co. (a) | 31 | ||||||
2,647 | Rock-Tenn Co., Class – A | 143 | ||||||
212 | ||||||||
Paper Products — 0.15% |
| |||||||
2,636 | Buckeye Technologies, Inc. | 55 | ||||||
721 | Clearwater Paper Corp. (a) | 56 | ||||||
2,663 | KapStone Paper & Packaging Corp. (a) | 41 | ||||||
980 | Neenah Paper, Inc. | 19 | ||||||
3,019 | P.H. Glatfelter Co. | 37 | ||||||
1,200 | Schweitzer-Mauduit International, Inc. | 76 | ||||||
1,100 | Verso Paper Corp. (a) | 4 | ||||||
3,285 | Wausau Paper Corp. | 28 | ||||||
316 | ||||||||
Personal Products — 0.13% |
| |||||||
1,608 | Elizabeth Arden, Inc. (a) | 37 | ||||||
900 | Inter Parfums, Inc. | 17 | ||||||
900 | Medifast, Inc. (a) | 26 | ||||||
500 | Nature’s Sunshine Products, Inc. (a) | 5 | ||||||
3,100 | Nu Skin Enterprises, Inc., Class – A | 94 | ||||||
555 | Nutraceutical International Corp. (a) | 8 | ||||||
2,916 | Prestige Brands Holdings, Inc. (a) | 35 | ||||||
658 | Revlon, Inc., Class – A (a) | 6 | ||||||
774 | Schiff Nutrition International, Inc. | 7 | ||||||
1,300 | Synutra International, Inc. (a) | 17 | ||||||
1,200 | The Female Health Co. | 7 | ||||||
400 | USANA Health Sciences, Inc. (a) | 17 | ||||||
276 | ||||||||
Pharmaceuticals — 0.61% |
| |||||||
300 | Aegerion Pharmaceuticals, Inc. (a) | 4 | ||||||
3,700 | Akorn, Inc. (a) | 23 |
Shares | Security | Value (000) | ||||||
Pharmaceuticals (continued) |
| |||||||
2,500 | Alexza Pharmaceuticals, Inc. (a) | $ | 3 | |||||
1,700 | Aoxing Pharmaceutical Co., Inc. (a) | 5 | ||||||
900 | Ardea Biosciences, Inc. (a) | 23 | ||||||
2,700 | Auxilium Pharmaceuticals, Inc. (a) | 57 | ||||||
6,100 | AVANIR Pharmaceuticals, Inc., Class – A (a) | 25 | ||||||
1,200 | BioMimetic Therapeutics, Inc. (a) | 15 | ||||||
1,812 | BMP Sunstone Corp. (a) | 18 | ||||||
1,700 | Cadence Pharmaceuticals, Inc. (a) | 13 | ||||||
485 | Caraco Pharmaceutical Laboratories, Inc. (a) | 2 | ||||||
1,900 | Corcept Therapeutics, Inc. (a) | 7 | ||||||
500 | Cornerstone Therapeutics, Inc. (a) | 3 | ||||||
900 | Cumberland Pharmaceuticals, Inc. (a) | 5 | ||||||
2,300 | Cypress Bioscience, Inc. (a) | 15 | ||||||
3,500 | DepoMed, Inc. (a) | 22 | ||||||
5,800 | Durect Corp. (a) | 20 | ||||||
1,200 | Eurand NV (a) | 14 | ||||||
651 | Hi-Tech Pharmacal Co., Inc. (a) | 16 | ||||||
4,100 | Impax Laboratories, Inc. (a) | 83 | ||||||
7,000 | Inovio Pharmaceuticals, Inc. (a) | 8 | ||||||
3,800 | Inspire Pharmaceuticals, Inc. (a) | 32 | ||||||
900 | Jazz Pharmaceuticals, Inc. (a) | 18 | ||||||
900 | Lannett Co, Inc. (a) | 5 | ||||||
1,000 | MAP Pharmaceuticals, Inc. (a) | 17 | ||||||
4,078 | Medicis Pharmaceutical Corp., Class – A | 109 | ||||||
5,990 | Nektar Therapeutics (a) | 77 | ||||||
2,800 | NeoStem, Inc. (a) | 4 | ||||||
1,200 | Obagi Medical Products, Inc. (a) | 14 | ||||||
2,200 | Optimer Pharmaceuticals, Inc. (a) | 25 | ||||||
2,400 | Pain Therapeutics, Inc. (a) | 16 | ||||||
2,371 | Par Pharmaceutical Cos., Inc. (a) | 91 | ||||||
1,800 | POZEN, Inc. (a) | 12 | ||||||
3,600 | Questcor Pharmaceuticals, Inc. (a) | 53 | ||||||
3,600 | Salix Pharmaceuticals Ltd. (a) | 169 | ||||||
3,600 | Santarus, Inc. (a) | 12 | ||||||
2,000 | Somaxon Pharmaceuticals, Inc. (a) | 6 | ||||||
800 | Sucampo Pharmaceuticals, Inc., Class – A (a) | 3 | ||||||
3,618 | SuperGen, Inc. (a) | 10 | ||||||
3,594 | The Medicines Co. (a) | 51 | ||||||
5,460 | ViroPharma, Inc. (a) | 95 | ||||||
5,100 | VIVUS, Inc. (a) | 48 | ||||||
1,800 | Xenoport, Inc. (a) | 15 | ||||||
1,263 | ||||||||
Photographic Products — 0.05% |
| |||||||
17,400 | Eastman Kodak Co. (a) | 93 | ||||||
Precious Metals & Minerals — 0.20% |
| |||||||
5,932 | Coeur d’Alene Mines Corp. (a) | 162 | ||||||
17,366 | Hecla Mining Co. (a) | 196 | ||||||
2,900 | Stillwater Mining Co. (a) | 62 | ||||||
420 | ||||||||
See accompanying notes to financial statements
96
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Property & Casualty Insurance — 0.52% |
| |||||||
666 | American Safety Insurance Holdings Ltd. (a) | $ | 14 | |||||
1,301 | Amerisafe, Inc. (a) | 23 | ||||||
1,606 | AmTrust Financial Services, Inc. | 28 | ||||||
2,069 | Argo Group International Holdings Ltd. | 77 | ||||||
553 | Baldwin & Lyons, Inc., Class – B | 13 | ||||||
1,137 | CNA Surety Corp. (a) | 27 | ||||||
831 | Donegal Group, Inc., Class – A | 12 | ||||||
356 | EMC Insurance Group, Inc. | 8 | ||||||
2,853 | Employers Holdings, Inc. | 50 | ||||||
7,000 | First American Financial Corp. | 105 | ||||||
969 | First Mercury Financial Corp. | 16 | ||||||
638 | FPIC Insurance Group, Inc. (a) | 24 | ||||||
972 | Global Indemnity PLC (a) | 20 | ||||||
536 | Hallmark Financial Services, Inc. (a) | 5 | ||||||
824 | Harleysville Group, Inc. | 30 | ||||||
2,486 | Hilltop Holdings, Inc. (a) | 25 | ||||||
872 | Infinity Property & Casualty Corp. | 54 | ||||||
3,915 | Meadowbrook Insurance Group, Inc. | 40 | ||||||
404 | National Interstate Corp. | 9 | ||||||
2,106 | ProAssurance Corp. (a) | 128 | ||||||
1,269 | RLI Corp. | 67 | ||||||
892 | Safety Insurance Group, Inc. | 42 | ||||||
1,471 | SeaBright Insurance Holdings, Inc. | 13 | ||||||
3,648 | Selective Insurance Group, Inc. | 66 | ||||||
931 | State Auto Financial Corp. | 16 | ||||||
1,172 | Stewart Information Services Corp. | 13 | ||||||
870 | The Navigators Group, Inc. (a) | 44 | ||||||
2,592 | Tower Group, Inc. | 66 | ||||||
1,618 | United Fire & Casualty Co. | 36 | ||||||
1,158 | Universal Insurance Holdings, Inc. | 6 | ||||||
1,077 | ||||||||
Publishing — 0.14% |
| |||||||
1,200 | AH Belo Corp., Class – A (a) | 10 | ||||||
2,900 | Dex One Corp. (a) | 22 | ||||||
2,798 | Journal Communications, Inc., Class – A (a) | 14 | ||||||
3,100 | Lee Enterprises, Inc. (a) | 7 | ||||||
1,800 | Martha Stewart Living Omnimedia, Inc., Class – A (a) | 8 | ||||||
1,200 | Media General, Inc., Class – A (a) | 7 | ||||||
1,140 | PRIMEDIA, Inc. | 5 | ||||||
2,192 | Scholastic Corp. | 65 | ||||||
900 | SuperMedia, Inc. (a) | 8 | ||||||
1,941 | The E.W. Scripps Co., Class – A (a) | 20 | ||||||
4,000 | The McClatchy Co., Class – A (a) | 19 | ||||||
3,200 | Valassis Communications, Inc. (a) | 103 | ||||||
288 | ||||||||
Shares | Security | Value (000) | ||||||
Railroads — 0.07% |
| |||||||
2,500 | Genesee & Wyoming, Inc., Class – A (a) | $ | 132 | |||||
1,554 | RailAmerica, Inc. (a) | 20 | ||||||
152 | ||||||||
Real Estate Development — 0.03% |
| |||||||
708 | Avatar Holdings, Inc. (a) | 14 | ||||||
2,376 | Forestar Group, Inc. (a) | 46 | ||||||
60 | ||||||||
Real Estate Operating Companies — 0.01% |
| |||||||
1,000 | Hudson Pacific Properties, Inc. | 15 | ||||||
2,400 | Thomas Properties Group, Inc. (a) | 10 | ||||||
25 | ||||||||
Real Estate Services — 0.01% |
| |||||||
1,300 | Kennedy-Wilson Holdings, Inc. (a) | 13 | ||||||
Regional Banks — 2.20% |
| |||||||
1,011 | 1st Source Corp. | 20 | ||||||
1,500 | 1st United Bancorp, Inc. (a) | 10 | ||||||
290 | Alliance Financial Corp. | 9 | ||||||
400 | American National Bankshares, Inc. | 9 | ||||||
1,473 | Ameris Bancorp (a) | 16 | ||||||
576 | Ames National Corp. | 12 | ||||||
594 | Arrow Financial Corp. | 16 | ||||||
449 | BancFirst Corp. | 19 | ||||||
278 | Bancorp Rhode Island, Inc. | 8 | ||||||
380 | Bank of Marin Bancorp | 13 | ||||||
823 | Bank of the Ozarks, Inc. | 36 | ||||||
5,109 | Boston Private Financial Holdings, Inc. | 33 | ||||||
380 | Bridge Bancorp, Inc. | 9 | ||||||
622 | Bryn Mawr Bank Corp. | 11 | ||||||
545 | Camden National Corp. | 20 | ||||||
789 | Capital City Bank Group, Inc. | 10 | ||||||
2,020 | Cardinal Financial Corp. | 23 | ||||||
5,478 | Cathay General Bancorp | 91 | ||||||
2,400 | Center Financial Corp. (a) | 18 | ||||||
1,983 | Centerstate Banks, Inc. | 16 | ||||||
278 | Century Bancorp, Inc., Class – A | 7 | ||||||
1,604 | Chemical Financial Corp. | 36 | ||||||
796 | Citizens & Northern Corp. | 12 | ||||||
26,495 | Citizens Republic Bancorp, Inc. (a) | 16 | ||||||
1,097 | City Holding Co. | 40 | ||||||
843 | CNB Financial Corp. | 12 | ||||||
1,839 | CoBiz Financial, Inc. | 11 | ||||||
2,572 | Columbia Banking System, Inc. | 54 | ||||||
2,311 | Community Bank System, Inc. | 64 | ||||||
1,034 | Community Trust Bancorp, Inc. | 30 | ||||||
6,360 | CVB Financial Corp. | 55 | ||||||
1,024 | Eagle Bancorp, Inc. (a) | 15 | ||||||
1,040 | Enterprise Financial Services Corp. | 11 | ||||||
8,073 | F.N.B. Corp. | 79 | ||||||
734 | Financial Institutions, Inc. | 14 |
See accompanying notes to financial statements
97
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Regional Banks (continued) |
| |||||||
983 | First Bancorp North Carolina | $ | 15 | |||||
22,913 | First Bancorp Puerto Rico (a) | 11 | ||||||
637 | First Bancorp, Inc. Maine | 10 | ||||||
3,987 | First Busey Corp. | 19 | ||||||
7,161 | First Commonwealth Financial Corp. | 51 | ||||||
1,034 | First Community Bancshares, Inc. | 15 | ||||||
4,053 | First Financial Bancorp | 75 | ||||||
1,358 | First Financial Bankshares, Inc. | 70 | ||||||
720 | First Financial Corp. | 25 | ||||||
900 | First Interstate Bancsystem, Inc. | 14 | ||||||
1,712 | First Merchants Corp. | 15 | ||||||
5,260 | First Midwest Bancorp, Inc. | 61 | ||||||
432 | First South Bancorp, Inc. | 3 | ||||||
7,447 | FirstMerit Corp. | 147 | ||||||
739 | German American Bancorp, Inc. | 14 | ||||||
5,075 | Glacier Bancorp, Inc. | 77 | ||||||
742 | Great Southern Bancorp, Inc. | 18 | ||||||
800 | Green Bankshares, Inc. (a) | 3 | ||||||
2,012 | Hancock Holding Co. | 70 | ||||||
7,000 | Hanmi Financial Corp. (a) | 8 | ||||||
855 | Heartland Financial USA, Inc. | 15 | ||||||
588 | Heritage Financial Corp. (a) | 8 | ||||||
601 | Home Bancorp, Inc. (a) | 8 | ||||||
1,515 | Home Bancshares, Inc. | 33 | ||||||
880 | Hudson Valley Holding Corp. | 22 | ||||||
1,827 | IBERIABANK Corp. | 108 | ||||||
1,547 | Independent Bank Corp. | 42 | ||||||
3,499 | International Bancshares Corp. | 70 | ||||||
3,342 | Investors Bancorp, Inc. (a) | 44 | ||||||
1,311 | Lakeland Bancorp, Inc. | 14 | ||||||
1,000 | Lakeland Financial Corp. | 21 | ||||||
1,347 | MainSource Financial Group, Inc. | 14 | ||||||
3,550 | MB Financial, Inc. | 61 | ||||||
352 | Merchants Bancshares, Inc. | 10 | ||||||
975 | Metro Bancorp, Inc. (a) | 11 | ||||||
459 | MidSouth Bancorp, Inc. | 7 | ||||||
500 | MidWestOne Financial Group, Inc. | 8 | ||||||
2,590 | Nara Bancorp, Inc. (a) | 25 | ||||||
477 | National Bankshares, Inc. | 15 | ||||||
8,394 | National Penn Bancshares, Inc. | 67 | ||||||
2,426 | NBT Bancorp, Inc. | 59 | ||||||
1,332 | Northfield Bancorp, Inc. | 18 | ||||||
5,786 | Old National Bancorp | 69 | ||||||
700 | OmniAmerican Bancorp, Inc. (a) | 9 | ||||||
3,333 | Oriental Financial Group, Inc. | 42 | ||||||
512 | Orrstown Financial Services, Inc. | 14 | ||||||
1,310 | Pacific Continental Corp. | 13 | ||||||
1,980 | PacWest Bancorp | 42 | ||||||
824 | Park National Corp. | 60 | ||||||
562 | Peapack-Gladstone Financial Corp. | 7 |
Shares | Security | Value (000) | ||||||
Regional Banks (continued) |
| |||||||
232 | Penns Woods Bancorp, Inc. | $ | 9 | |||||
690 | Peoples Bancorp, Inc. | 11 | ||||||
2,104 | Pinnacle Financial Partners, Inc. (a) | 29 | ||||||
232 | Porter Bancorp, Inc. | 2 | ||||||
3,609 | PrivateBancorp, Inc. | 52 | ||||||
3,122 | Prosperity Bancshares, Inc. | 123 | ||||||
1,579 | Renasant Corp. | 27 | ||||||
634 | Republic Bancorp, Inc., Class – A | 15 | ||||||
1,711 | S&T Bancorp, Inc. | 39 | ||||||
781 | S.Y. Bancorp, Inc. | 19 | ||||||
1,559 | Sandy Spring Bancorp, Inc. | 29 | ||||||
899 | SCBT Financial Corp. | 29 | ||||||
860 | Sierra Bancorp | 9 | ||||||
2,600 | Signature Bank (a) | 130 | ||||||
1,245 | Simmons First National Corp., Class – A | 35 | ||||||
1,119 | Southside Bancshares, Inc. | 24 | ||||||
1,125 | Southwest Bancorp, Inc. (a) | 14 | ||||||
1,120 | State Bancorp, Inc. | 10 | ||||||
1,543 | StellarOne Corp. | 22 | ||||||
1,623 | Sterling Bancorp | 17 | ||||||
5,974 | Sterling Bancshares, Inc. | 42 | ||||||
712 | Suffolk Bancorp | 18 | ||||||
9,049 | Susquehanna Bancshares, Inc. | 88 | ||||||
2,880 | SVB Financial Group (a) | 153 | ||||||
700 | Taylor Capital Group, Inc. (a) | 9 | ||||||
2,522 | Texas Capital Bancshares, Inc. (a) | 54 | ||||||
1,544 | The Bancorp, Inc. (a) | 16 | ||||||
543 | The First of Long Island Corp. | 16 | ||||||
497 | Tompkins Financial Corp. | 19 | ||||||
531 | Tower Bancorp, Inc. | 12 | ||||||
1,743 | TowneBank | 28 | ||||||
934 | TriCo Bancshares | 15 | ||||||
4,306 | Trustmark Corp. | 107 | ||||||
2,140 | UMB Financial Corp. | 89 | ||||||
8,021 | Umpqua Holdings Corp. | 98 | ||||||
1,270 | Union First Market Bankshares Corp. | 19 | ||||||
2,736 | United Bankshares, Inc. | 80 | ||||||
6,521 | United Community Banks, Inc. (a) | 13 | ||||||
1,136 | Univest Corp. of Pennsylvania | 22 | ||||||
1,400 | Virginia Commerce Bancorp, Inc. (a) | 9 | ||||||
1,012 | Washington Banking Co. | 14 | ||||||
935 | Washington Trust Bancorp, Inc. | 20 | ||||||
4,426 | Webster Financial Corp. | 87 | ||||||
1,499 | WesBanco, Inc. | 28 | ||||||
891 | West Bancorp | 7 | ||||||
6,500 | West Coast Bancorp (a) | 18 | ||||||
1,969 | Westamerica Bancorp | 109 | ||||||
4,455 | Western Alliance Bancorp (a) | 33 | ||||||
6,700 | Whitney Holding Corp. | 95 | ||||||
1,298 | Wilshire Bancorp, Inc. | 10 | ||||||
2,339 | Wintrust Financial Corp. | 77 | ||||||
4,562 | ||||||||
See accompanying notes to financial statements
98
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Reinsurance — 0.25% |
| |||||||
6,704 | Alterra Capital Holdings Ltd. | $ | 145 | |||||
452 | Enstar Group Ltd. (a) | 38 | ||||||
3,464 | Flagstone Reinsurance Holdings SA | 44 | ||||||
100 | Gerova Financial Group Ltd. (a) | 3 | ||||||
1,879 | Greenlight Capital Re Ltd., Class – A (a) | 50 | ||||||
3,088 | Maiden Holdings Ltd. | 24 | ||||||
4,449 | Montpelier Re Holdings Ltd. | 89 | ||||||
2,850 | Platinum Underwriters Holdings Ltd. | 128 | ||||||
521 | ||||||||
Research and Consulting Services — 0.28% |
| |||||||
2,200 | Acacia Research Corp./Acacia Technologies LLC (a) | 57 | ||||||
2,600 | CBIZ, Inc. (a) | 16 | ||||||
1,300 | CoStar Group, Inc. (a) | 75 | ||||||
732 | CRA International, Inc. (a) | 17 | ||||||
900 | Exponent, Inc. (a) | 34 | ||||||
900 | Franklin Covey Co. (a) | 8 | ||||||
1,312 | Hill International, Inc. (a) | 8 | ||||||
1,500 | Huron Consulting Group, Inc. (a) | 40 | ||||||
1,200 | ICF International, Inc. (a) | 31 | ||||||
1,500 | LECG Corp. (a) | 2 | ||||||
1,000 | Mistras Group, Inc. (a) | 13 | ||||||
3,500 | Navigant Consulting, Inc. (a) | 32 | ||||||
3,000 | Resources Connection, Inc. | 56 | ||||||
1,326 | School Specialty, Inc. (a) | 18 | ||||||
1,000 | The Advisory Board Co. (a) | 48 | ||||||
2,200 | The Corporate Executive Board Co. | 83 | ||||||
2,100 | The Dolan Co. (a) | 29 | ||||||
266 | VSE Corp. | 9 | ||||||
576 | ||||||||
Residential REITs — 0.37% |
| |||||||
4,429 | American Campus Communities, Inc. | 141 | ||||||
2,881 | Associated Estates Realty Corp. | 44 | ||||||
3,543 | Education Realty Trust, Inc. | 28 | ||||||
1,756 | Equity Lifestyle Properties, Inc. | 98 | ||||||
2,496 | Home Properties, Inc. | 139 | ||||||
2,197 | Mid-America Apartment Communities, Inc. | 139 | ||||||
3,336 | Post Properties, Inc. | 121 | ||||||
1,265 | Sun Communities, Inc. | 42 | ||||||
890 | UMH Properties, Inc. | 9 | ||||||
761 | ||||||||
Restaurants — 0.54% |
| |||||||
1,733 | AFC Enterprises, Inc. (a) | 24 | ||||||
88 | Biglari Holdings, Inc. (a) | 36 | ||||||
1,400 | BJ’s Restaurant, Inc. (a) | 50 | ||||||
2,075 | Bob Evans Farms, Inc. | 68 | ||||||
800 | Bravo Brio Restaurant Group, Inc. (a) | 15 |
Shares | Security | Value (000) | ||||||
Restaurants (continued) |
| |||||||
1,100 | Buffalo Wild Wings, Inc. (a) | $ | 48 | |||||
1,300 | California Pizza Kitchen, Inc. (a) | 22 | ||||||
500 | Caribou Coffee Co., Inc. (a) | 5 | ||||||
900 | Carrols Restaurant Group, Inc. (a) | 7 | ||||||
1,300 | CEC Entertainment, Inc. (a) | 50 | ||||||
1,525 | Cracker Barrel Old Country Store, Inc. | 84 | ||||||
6,600 | Denny’s Corp. (a) | 24 | ||||||
1,100 | DineEquity, Inc. (a) | 54 | ||||||
2,489 | Domino’s Pizza, Inc. (a) | 40 | ||||||
400 | Einstein Noah Restaurant Group, Inc. (a) | 6 | ||||||
3,600 | Jack In The Box, Inc. (a) | 76 | ||||||
4,100 | Jamba, Inc. (a) | 9 | ||||||
3,900 | Krispy Kreme Doughnuts, Inc. (a) | 27 | ||||||
1,094 | McCormick & Schmick’s Seafood Restaurants, Inc. (a) | 10 | ||||||
1,191 | O’Charley’s, Inc. (a) | 9 | ||||||
1,500 | P.F. Chang’s China Bistro, Inc. | 73 | ||||||
1,291 | Papa John’s International, Inc. (a) | 36 | ||||||
700 | Peet’s Coffee & Tea, Inc. (a) | 29 | ||||||
1,100 | Red Robin Gourmet Burgers, Inc. (a) | 24 | ||||||
4,296 | Ruby Tuesday, Inc. (a) | 56 | ||||||
2,000 | Ruth’s Hospitality Group, Inc. (a) | 9 | ||||||
4,000 | Sonic Corp. (a) | 40 | ||||||
3,650 | Texas Roadhouse, Inc. (a) | 63 | ||||||
3,900 | The Cheesecake Factory, Inc. (a) | 120 | ||||||
1,114 | ||||||||
Retail REITs — 0.46% |
| |||||||
2,747 | Acadia Realty Trust | 50 | ||||||
496 | Agree Realty Corp. | 13 | ||||||
154 | Alexander’s, Inc. | 64 | ||||||
9,517 | CBL & Associates Properties, Inc. | 167 | ||||||
3,724 | Cedar Shopping Centers, Inc. | 23 | ||||||
2,714 | Equity One, Inc. | 49 | ||||||
1,360 | Getty Realty Corp. | 43 | ||||||
6,040 | Glimcher Realty Trust | 51 | ||||||
5,146 | Inland Real Estate Corp. | 45 | ||||||
3,767 | Kite Realty Group Trust | 20 | ||||||
5,676 | National Retail Properties, Inc. | 150 | ||||||
3,881 | Pennsylvania Real Estate Investment Trust | 56 | ||||||
2,636 | Ramco-Gershenson Properties Trust | 33 | ||||||
456 | Saul Centers, Inc. | 22 | ||||||
2,720 | Tanger Factory Outlet Centers, Inc. | 139 | ||||||
1,531 | Urstadt Biddle Properties, Inc., Class – A | 30 | ||||||
955 | ||||||||
Security & Alarm Services — 0.12% |
| |||||||
1,407 | GeoEye, Inc. (a) | 60 | ||||||
3,100 | The Brink’s Co. | 83 | ||||||
3,984 | The Geo Group, Inc. (a) | 98 | ||||||
241 | ||||||||
See accompanying notes to financial statements
99
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Semiconductor Equipment — 0.52% |
| |||||||
2,462 | Advanced Energy Industries, Inc. (a) | $ | 34 | |||||
6,700 | Amkor Technologies, Inc. (a) | 50 | ||||||
2,057 | ATMI, Inc. (a) | 41 | ||||||
6,600 | Axcelis Technologies, Inc. (a) | 23 | ||||||
2,200 | AXT, Inc. (a) | 23 | ||||||
4,221 | Brooks Automation, Inc. (a) | 38 | ||||||
1,579 | Cabot Microelectronics Corp. (a) | 65 | ||||||
1,605 | Cohu, Inc. | 27 | ||||||
2,056 | Cymer, Inc. (a) | 93 | ||||||
8,944 | Entegris, Inc. (a) | 67 | ||||||
2,611 | FEI Co. (a) | 69 | ||||||
3,412 | FormFactor, Inc. (a) | 30 | ||||||
2,600 | FSI International, Inc. (a) | 11 | ||||||
4,000 | GT Solar International, Inc. (a) | 36 | ||||||
3,600 | Ikanos Communications, Inc. (a) | 5 | ||||||
1,800 | Integrated Silicon Solution, Inc. (a) | 14 | ||||||
4,400 | Kulicke & Soffa Industries, Inc. (a) | 32 | ||||||
3,300 | LTX-Credence Corp. (a) | 24 | ||||||
3,400 | Mattson Technology, Inc. (a) | 10 | ||||||
3,197 | MKS Instruments, Inc. (a) | 78 | ||||||
1,200 | Nanometrics, Inc. (a) | 15 | ||||||
1,600 | PDF Solutions, Inc. (a) | 8 | ||||||
3,701 | Photronics, Inc. (a) | 22 | ||||||
1,000 | Rubicon Technology, Inc. (a) | 21 | ||||||
2,131 | Rudolph Technologies, Inc. (a) | 18 | ||||||
3,400 | Tessera Technologies, Inc. (a) | 75 | ||||||
1,500 | Ultra Clean Holdings, Inc. (a) | 14 | ||||||
1,600 | Ultratech, Inc. (a) | 32 | ||||||
2,600 | Veeco Instruments, Inc. (a) | 112 | ||||||
1,087 | ||||||||
Semiconductors — 0.91% |
| |||||||
2,400 | Advanced Analogic Technologies, Inc. (a) | 10 | ||||||
300 | Alpha & Omega Semiconductor Ltd. (a) | 4 | ||||||
4,179 | ANADIGICS, Inc. (a) | 29 | ||||||
4,300 | Applied Micro Circuits Corp. (a) | 46 | ||||||
2,800 | Cavium Networks, Inc. (a) | 105 | ||||||
1,312 | CEVA, Inc. (a) | 27 | ||||||
4,400 | Cirrus Logic, Inc. (a) | 70 | ||||||
5,600 | Conexant Systems, Inc. (a) | 9 | ||||||
2,100 | Diodes, Inc. (a) | 57 | ||||||
1,642 | DSP Group, Inc. (a) | 13 | ||||||
4,100 | Entropic Communications, Inc. (a) | 50 | ||||||
2,135 | Exar Corp. (a) | 15 | ||||||
1,399 | GSI Technology, Inc. (a) | 11 | ||||||
1,700 | Hittite Microwave Corp. (a) | 104 | ||||||
500 | Inphi Corp. (a) | 10 | ||||||
9,900 | Integrated Device Technology, Inc. (a) | 66 | ||||||
1,391 | IXYS Corp. (a) | 16 | ||||||
4,600 | Kopin Corp. (a) | 19 |
Shares | Security | Value (000) | ||||||
Semiconductors (continued) |
| |||||||
7,400 | Lattice Semiconductor Corp. (a) | $ | 45 | |||||
500 | MaxLinear, Inc., Class – A (a) | 5 | ||||||
3,200 | Micrel, Inc. | 42 | ||||||
5,600 | Microsemi Corp. (a) | 128 | ||||||
2,100 | Mindspeed Technologies, Inc. (a) | 13 | ||||||
3,200 | MIPS Technologies, Inc. (a) | 48 | ||||||
2,100 | Monolithic Power Systems, Inc. (a) | 35 | ||||||
1,900 | MoSys, Inc. (a) | 11 | ||||||
4,000 | NetLogic Microsystems, Inc. (a) | 126 | ||||||
300 | NVE Corp. (a) | 17 | ||||||
3,504 | OmniVision Technologies, Inc. (a) | 104 | ||||||
1,323 | Pericom Semiconductor Corp. (a) | 14 | ||||||
2,500 | PLX Technology, Inc. (a) | 9 | ||||||
1,600 | Power Integrations, Inc. | 64 | ||||||
17,300 | RF Micro Devices, Inc. (a) | 127 | ||||||
4,000 | Semtech Corp. (a) | 91 | ||||||
2,157 | Sigma Designs, Inc. (a) | 31 | ||||||
5,189 | Silicon Image, Inc. (a) | 38 | ||||||
900 | Spansion, Inc., Class – A (a) | 19 | ||||||
1,524 | Standard Microsystems Corp. (a) | 44 | ||||||
600 | Supertex, Inc. (a) | 14 | ||||||
4,290 | Trident Microsystems, Inc. (a) | 8 | ||||||
10,012 | TriQuint Semiconductor, Inc. (a) | 117 | ||||||
1,600 | Volterra Semiconductor Corp. (a) | 37 | ||||||
3,178 | Zoran Corp. (a) | 28 | ||||||
1,876 | ||||||||
Soft Drinks — 0.03% | ||||||||
300 | Coca-Cola Bottling Co. Consolidated | 17 | ||||||
5,900 | Heckmann Corp. (a) | 30 | ||||||
800 | National Beverage Corp. | 10 | ||||||
700 | Primo Water Corp. (a) | 10 | ||||||
67 | ||||||||
Specialized Consumer Services — 0.27% |
| |||||||
2,000 | Coinstar, Inc. (a) | 113 | ||||||
300 | CPI Corp. | 7 | ||||||
701 | Mac-Gray Corp. | 11 | ||||||
1,900 | Matthews International Corp., Class – A | 66 | ||||||
500 | Pre-Paid Legal Services, Inc. (a) | 30 | ||||||
4,017 | Regis Corp. | 67 | ||||||
4,293 | Sotheby’s | 194 | ||||||
900 | Steiner Leisure Ltd. (a) | 42 | ||||||
5,822 | Stewart Enterprises, Inc., Class – A | 39 | ||||||
�� | ||||||||
569 | ||||||||
Specialized Finance — 0.17% |
| |||||||
1,101 | Asset Acceptance Capital Corp. (a) | 6 | ||||||
700 | ASTA Funding, Inc. | 6 | ||||||
145 | California First National Bancorp | 2 | ||||||
926 | Encore Capital Group, Inc. (a) | 22 | ||||||
3,776 | Fifth Street Finance Corp. | 46 | ||||||
400 | Life Partners Holdings, Inc. | 8 |
See accompanying notes to financial statements
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The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Specialized Finance (continued) |
| |||||||
1,800 | MarketAxess Holdings, Inc. | $ | 37 | |||||
600 | Marlin Business Services Corp. (a) | 7 | ||||||
1,124 | Medallion Financial Corp. | 9 | ||||||
1,951 | NewStar Financial, Inc. (a) | 21 | ||||||
3,860 | PHH Corp. (a) | 89 | ||||||
1,100 | Portfolio Recovery Associates, Inc. (a) | 83 | ||||||
1,397 | Primus Guaranty Ltd. (a) | 7 | ||||||
600 | THL Credit, Inc. | 8 | ||||||
351 | ||||||||
Specialized REITs — 0.76% |
| |||||||
2,513 | Ashford Hospitality Trust (a) | 24 | ||||||
600 | Chatham Lodging Trust | 10 | ||||||
1,100 | Chesapeake Lodging Trust | 21 | ||||||
2,990 | Cogdell Spencer, Inc. | 17 | ||||||
10,774 | DiamondRock Hospitality Co. (a) | 129 | ||||||
3,147 | Entertainment Properties Trust | 146 | ||||||
6,066 | Extra Space Storage, Inc. | 106 | ||||||
6,550 | FelCor Lodging Trust, Inc. (a) | 46 | ||||||
4,220 | Healthcare Realty Trust, Inc. | 89 | ||||||
8,947 | Hersha Hospitality Trust | 59 | ||||||
4,721 | LaSalle Hotel Properties | 125 | ||||||
1,661 | LTC Properties, Inc. | 47 | ||||||
7,833 | Medical Properties Trust, Inc. | 85 | ||||||
1,598 | National Health Investors, Inc. | 72 | ||||||
6,601 | OMEGA Healthcare Investors, Inc. | 148 | ||||||
2,600 | Pebblebrook Hotel Trust | 53 | ||||||
2,715 | Potlatch Corp. | 88 | ||||||
1,562 | Sabra Health Care REIT, Inc. | 29 | ||||||
1,816 | Sovran Self Storage, Inc. | 67 | ||||||
9,641 | Strategic Hotels & Resorts, Inc. (a) | 51 | ||||||
7,861 | Sunstone Hotel Investors, Inc. (a) | 81 | ||||||
6,102 | U-Store-It Trust | 58 | ||||||
758 | Universal Health Realty Income Trust | 28 | ||||||
1,579 | ||||||||
Specialty Chemicals — 0.57% |
| |||||||
2,084 | A. Schulman, Inc. | 48 | ||||||
1,548 | Arch Chemicals, Inc. | 59 | ||||||
1,800 | Balchem Corp. | 61 | ||||||
5,899 | Ferro Corp. (a) | 86 | ||||||
3,261 | H.B. Fuller Co. | 67 | ||||||
400 | KMG Chemicals, Inc. | 6 | ||||||
700 | Kraton Performance Polymers, Inc. (a) | 22 | ||||||
1,500 | Landec Corp. (a) | 9 | ||||||
1,299 | Minerals Technologies, Inc. | 85 | ||||||
2,097 | OM Group, Inc. (a) | 81 | ||||||
3,000 | Omnova Solutions, Inc. (a) | 25 | ||||||
6,076 | PolyOne Corp. (a) | 76 | ||||||
751 | Quaker Chemical Corp. | 31 |
Shares | Security | Value (000) | ||||||
Specialty Chemicals (continued) |
| |||||||
3,423 | Rockwood Holdings, Inc. (a) | $ | 134 | |||||
2,600 | Senomyx, Inc. (a) | 18 | ||||||
3,366 | Sensient Technologies Corp. | 124 | ||||||
500 | Stepan Co. | 38 | ||||||
4,840 | W. R. Grace & Co. (a) | 170 | ||||||
1,400 | Zep, Inc. | 28 | ||||||
1,884 | Zoltek Cos., Inc. (a) | 22 | ||||||
1,190 | ||||||||
Specialty Stores — 0.30% |
| |||||||
2,700 | Barnes & Noble, Inc. | 38 | ||||||
1,300 | Big 5 Sporting Goods Corp. | 20 | ||||||
491 | Books-A-Million, Inc. | 3 | ||||||
2,951 | Borders Group, Inc. (a) | 3 | ||||||
972 | Build-A-Bear Workshop, Inc. (a) | 7 | ||||||
2,699 | Cabela’s, Inc. (a) | 59 | ||||||
1,080 | Conn’s, Inc. (a) | 5 | ||||||
1,800 | Hibbett Sports, Inc. (a) | 66 | ||||||
1,787 | Jo-Ann Stores, Inc. (a) | 109 | ||||||
1,500 | MarineMax, Inc. (a) | 14 | ||||||
5,651 | OfficeMax, Inc. (a) | 100 | ||||||
6,086 | Sally Beauty Holdings, Inc. (a) | 88 | ||||||
2,000 | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | 68 | ||||||
1,000 | Vitamin Shoppe, Inc. (a) | 34 | ||||||
756 | West Marine, Inc. (a) | 8 | ||||||
100 | Winmark Corp. | 3 | ||||||
625 | ||||||||
Steel — 0.08% |
| |||||||
1,123 | A.M. Castle & Co. (a) | 21 | ||||||
841 | Haynes International, Inc. | 35 | ||||||
800 | Metals USA Holdings Corp. (a) | 12 | ||||||
621 | Olympic Steel, Inc. | 18 | ||||||
478 | Universal Stainless & Alloy Products, Inc. (a) | 15 | ||||||
3,612 | Worthington Industries, Inc. | 66 | ||||||
167 | ||||||||
Systems Software — 0.35% |
| |||||||
3,757 | Accelrys, Inc. (a) | 31 | ||||||
3,000 | Actuate Corp. (a) | 17 | ||||||
5,700 | Ariba, Inc. (a) | 134 | ||||||
2,800 | CommVault Systems, Inc. (a) | 80 | ||||||
1,300 | DemandTec, Inc. (a) | 14 | ||||||
2,600 | Fortinet, Inc. (a) | 84 | ||||||
1,150 | NetSuite, Inc. (a) | 29 | ||||||
900 | OPNET Technologies, Inc. | 24 | ||||||
2,700 | Progress Software Corp. (a) | 114 | ||||||
900 | QLIK Technologies, Inc. (a) | 23 | ||||||
900 | RealPage, Inc. (a) | 28 | ||||||
1,800 | Sourcefire, Inc. (a) | 47 | ||||||
3,100 | TeleCommunication Systems, Inc., | 15 |
See accompanying notes to financial statements
101
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The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Systems Software (continued) |
| |||||||
5,400 | Wave Systems Corp., Class – A (a) | $ | 21 | |||||
2,800 | Websense, Inc. (a) | 57 | ||||||
718 | ||||||||
Technology Distributors — 0.09% |
| |||||||
1,094 | Agilysys, Inc. (a) | 6 | ||||||
1,198 | Electro Rent Corp. | 19 | ||||||
3,023 | Insight Enterprises, Inc. (a) | 40 | ||||||
701 | PC Connection, Inc. (a) | 6 | ||||||
900 | Richardson Electronics Ltd. | 11 | ||||||
1,761 | ScanSource, Inc. (a) | 56 | ||||||
1,559 | SYNNEX Corp. (a) | 49 | ||||||
187 | ||||||||
Textiles — 0.01% |
| |||||||
600 | Culp, Inc. (a) | 6 | ||||||
960 | Unifi, Inc. (a) | 16 | ||||||
22 | ||||||||
Thrifts & Mortgage Finance — 0.56% |
| |||||||
1,480 | Abington Bancorp, Inc. | 18 | ||||||
6,044 | Astoria Financial Corp. | 84 | ||||||
2,974 | Bank Mutual Corp. | 14 | ||||||
1,437 | BankFinancial Corp. | 14 | ||||||
2,133 | Beneficial Mutual Bancorp, Inc. (a) | 19 | ||||||
951 | Berkshire Hills Bancorp, Inc. | 21 | ||||||
500 | Bofl Holding, Inc. (a) | 8 | ||||||
4,066 | Brookline Bancorp, Inc. | 44 | ||||||
637 | Clifton Savings Bancorp, Inc. | 7 | ||||||
1,312 | Danvers Bancorp, Inc. | 23 | ||||||
1,696 | Dime Community Bancshares | 25 | ||||||
425 | Doral Financial Corp. (a) | 1 | ||||||
691 | ESB Financial Corp. | 11 | ||||||
890 | ESSA Bancorp, Inc. | 12 | ||||||
700 | Federal Agricultural Mortgage Corp., | 11 | ||||||
1,081 | First Financial Holdings, Inc. | 12 | ||||||
3,208 | Flagstar Bancorp, Inc. (a) | 5 | ||||||
1,997 | Flushing Financial Corp. | 28 | ||||||
453 | Fox Chase Bancorp, Inc. (a) | 5 | ||||||
110 | Heritage Financial Group, Inc. | 1 | ||||||
1,122 | Home Federal Bancorp, Inc. | 14 | ||||||
209 | Kaiser Federal Financial Group, Inc. | 2 | ||||||
1,023 | Kearny Financial Corp. | 9 | ||||||
566 | Meridian Interstate Bancorp, Inc. (a) | 7 | ||||||
�� | 13,581 | MGIC Investment Corp. (a) | 138 | |||||
181 | NASB Financial, Inc. | 3 | ||||||
7,108 | NewAlliance Bancshares, Inc. | 107 | ||||||
7,733 | Northwest Bancshares, Inc. | 91 | ||||||
915 | OceanFirst Financial Corp. | 12 | ||||||
4,824 | Ocwen Financial Corp. (a) | 46 |
Shares | Security | Value (000) | ||||||
Thrifts & Mortgage Finance (continued) |
| |||||||
3,717 | Oritani Financial Corp. | $ | 46 | |||||
3,931 | Provident Financial Services, Inc. | 60 | ||||||
2,637 | Provident New York Bancorp | 28 | ||||||
9,350 | Radian Group, Inc. | 75 | ||||||
440 | Rockville Financial, Inc. | 5 | ||||||
356 | Roma Financial Corp. | 4 | ||||||
767 | Territorial Bancorp, Inc. | 15 | ||||||
10,371 | The PMI Group, Inc. (a) | 34 | ||||||
5,049 | TrustCo Bank Corp. | 32 | ||||||
1,228 | United Financial Bancorp, Inc. | 19 | ||||||
960 | ViewPoint Financial Group, Inc. | 11 | ||||||
556 | Waterstone Financial, Inc. (a) | 2 | ||||||
1,855 | Westfield Financial, Inc. | 17 | ||||||
388 | WSFS Financial Corp. | 18 | ||||||
1,158 | ||||||||
Tires & Rubber — 0.04% |
| |||||||
3,900 | Cooper Tire & Rubber Co. | 92 | ||||||
Tobacco — 0.07% |
| |||||||
6,109 | Alliance One International, Inc. (a) | 26 | ||||||
6,500 | Star Scientific, Inc. (a) | 13 | ||||||
1,611 | Universal Corp. | 65 | ||||||
2,950 | Vector Group Ltd. | 51 | ||||||
155 | ||||||||
Trading Companies & Distributors — 0.35% |
| |||||||
1,691 | Aceto Corp. | 15 | ||||||
3,480 | Aircastle Ltd. | 36 | ||||||
2,700 | Applied Industrial Technologies, Inc. | 88 | ||||||
2,900 | Beacon Roofing Supply, Inc. (a) | 52 | ||||||
500 | DXP Enterprises, Inc. (a) | 12 | ||||||
1,853 | H&E Equipment Services, Inc. (a) | 21 | ||||||
1,200 | Houston Wire & Cable Co. | 16 | ||||||
2,188 | Interline Brands, Inc. (a) | 50 | ||||||
1,777 | Kaman Corp. | 52 | ||||||
291 | Lawson Products, Inc. | 7 | ||||||
3,400 | RSC Holdings, Inc. (a) | 33 | ||||||
2,215 | Rush Enterprises, Inc., Class – A (a) | 45 | ||||||
700 | SeaCube Container Leasing Ltd. | 10 | ||||||
1,207 | TAL International Group, Inc. | 37 | ||||||
600 | Textainer Group Holdings Ltd. | 17 | ||||||
866 | Titan Machinery, Inc. (a) | 17 | ||||||
4,247 | United Rentals, Inc. (a) | 97 | ||||||
1,800 | Watsco, Inc. | 114 | ||||||
719 | ||||||||
Trucking — 0.32% |
| |||||||
625 | AMERCO, Inc. (a) | 60 | ||||||
1,700 | Arkansas Best Corp. | 47 | ||||||
6,600 | Avis Budget Group, Inc. (a) | 103 | ||||||
1,291 | Celadon Group, Inc. (a) | 19 | ||||||
1,800 | Dollar Thrifty Automotive Group, Inc. (a) | 85 | ||||||
3,300 | Heartland Express, Inc. | 53 |
See accompanying notes to financial statements
102
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HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Trucking (continued) |
| |||||||
3,800 | Knight Transportation, Inc. | $ | 72 | |||||
1,100 | Marten Transport Ltd. | 23 | ||||||
2,688 | Old Dominion Freight Line, Inc. (a) | 86 | ||||||
300 | P.A.M. Transportation Services, Inc. (a) | 3 | ||||||
138 | Patriot Transportation Holding, Inc. (a) | 13 | ||||||
200 | Quality Distribution, Inc. (a) | 2 | ||||||
700 | Roadrunner Transportation Systems, Inc. (a) | 10 | ||||||
928 | Saia, Inc. (a) | 15 | ||||||
423 | Universal Truckload Services, Inc. (a) | 7 | ||||||
545 | USA Truck, Inc. (a) | 7 | ||||||
2,814 | Werner Enterprises, Inc. | 64 | ||||||
669 | ||||||||
Water Utilities — 0.09% |
| |||||||
1,306 | American States Water Co. | 45 | ||||||
392 | Artesian Resources Corp., Class – A | 7 | ||||||
800 | Cadiz, Inc. (a) | 10 | ||||||
1,376 | California Water Service Group | 51 | ||||||
556 | Connecticut Water Service, Inc. | 16 | ||||||
1,014 | Consolidated Water Co. Ltd. | 9 | ||||||
966 | Middlesex Water Co. | 18 | ||||||
894 | SJW Corp. | 24 | ||||||
856 | The York Water Co. | 15 | ||||||
195 | ||||||||
Wireless Telecommunication Services — 0.11% |
| |||||||
3,200 | FiberTower Corp. (a) | $ | 14 | |||||
6,500 | ICO Global Communications (Holdings) Ltd. (a) | 10 | ||||||
1,600 | Shenandoah Telecommunications Co. | 30 | ||||||
4,500 | Syniverse Holdings, Inc. (a) | 139 | ||||||
200 | TESSCO Technologies, Inc. | 3 | ||||||
1,445 | USA Mobility, Inc. | 26 | ||||||
222 | ||||||||
Total SSgA Funds Management, Inc. | 77,943 | |||||||
Total Common Stocks | 204,688 | |||||||
Preferred Stocks — 0.02% |
| |||||||
Pzena Investment Management, LLC — 0.02% |
| |||||||
Home Furnishings — 0.02% | ||||||||
503 | Sealy Corp. | 44 | ||||||
Total Preferred Stocks | 44 | |||||||
Shares or | Security | Value (000) | ||||||
Corporate Bonds — 0.00% |
| |||||||
SSgA Funds Management, Inc. — 0.00% |
| |||||||
Asset Management & Custody Banks — 0.00% |
| |||||||
$ | 1 | GAMCO Investors, Inc., | $ | 1 | ||||
Total Corporate Bonds | 1 | |||||||
U.S. Treasury Obligations — 0.03% |
| |||||||
SSgA Funds Management, Inc. — 0.03% |
| |||||||
10 | U.S. Treasury Bills, | 10 | ||||||
40 | U.S. Treasury Bills, | 40 | ||||||
Total U.S. Treasury Obligations | 50 | |||||||
Time Deposits — 1.00% | ||||||||
Frontier Capital Management Company, LLC — 0.29% |
| |||||||
594 | State Street Liquidity Management Control System Time Deposit, | 594 | ||||||
IronBridge Capital Management LP — 0.44% |
| |||||||
919 | State Street Liquidity Management Control System Time Deposit, | 919 | ||||||
Pzena Investment Management, LLC — 0.27% |
| |||||||
564 | State Street Liquidity Management Control System Time Deposit, | 564 | ||||||
Total Time Deposits | 2,077 | |||||||
Mutual Funds — 0.16% |
| |||||||
SSgA Funds Management, Inc. — 0.16% |
| |||||||
326,505 | Alliance Money Market Fund Prime Portfolio, 0.16% (e) | 327 | ||||||
737 | Kayne Anderson Energy Development Fund | 13 | ||||||
Total Mutual Funds | 340 | |||||||
Total Investments | 207,200 | |||||||
Other assets in excess of | 32 | |||||||
Net Assets — 100.00% | $ | 207,232 | ||||||
See accompanying notes to financial statements
103
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Represents non-income producing security. |
(b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(c) | All or part of this security has been pledged as collateral for futures contracts held by 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, 2010. |
REITs — Real Estate Investment Trusts
Futures
SSgA Funds Management, Inc.
Number of | Futures Contracts Positions | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
6 | Russell 2000 Mini Future | $ | 469 | Mar-11 | $ | 4 | ||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | 4 | ||||||||||||||
See accompanying notes to financial statements
104
Table of Contents
HC CAPITAL TRUST
The Real Estate Securities Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks — 95.38% |
| |||||||
Diversified Real Estate Activities — 3.63% |
| |||||||
291,000 | Brookfield Asset Management, Inc., | $ | 9,687 | |||||
Diversified REITs — 6.19% |
| |||||||
1,683,208 | Dexus Property Group | 1,368 | ||||||
258,178 | Land Securities Group PLC | 2,713 | ||||||
149,208 | Vornado Realty Trust | 12,433 | ||||||
16,514 | ||||||||
Health Care Facilities — 4.20% |
| |||||||
523,400 | Brookdale Senior Living, Inc. (a) | 11,206 | ||||||
Hotels, Resorts & Cruise Lines — 1.00% |
| |||||||
59,801 | Accor SA | 2,661 | ||||||
Industrial REITs — 4.93% |
| |||||||
379,800 | AMB Property Corp. | 12,044 | ||||||
62,200 | Terreno Realty Corp. (a) | 1,115 | ||||||
13,159 | ||||||||
Mortgage REITs — 0.55% |
| |||||||
111,500 | CreXus Investment Corp. | 1,461 | ||||||
Office REITs — 19.34% |
| |||||||
153,100 | Alexandria Real Estate Equities, Inc. | 11,216 | ||||||
106,900 | Boston Properties, Inc. | 9,204 | ||||||
1,019,245 | Douglas Emmett, Inc. | 16,920 | ||||||
945,700 | Duke Realty Corp. | 11,783 | ||||||
74,800 | Mack-Cali Realty Corp. | 2,473 | ||||||
51,596 | ||||||||
Real Estate Operating Companies — 4.51% |
| |||||||
646,500 | Forest City Enterprises, Inc., Class – A (a) | 10,790 | ||||||
82,900 | Hudson Pacific Properties, Inc. | 1,248 | ||||||
12,038 | ||||||||
Residential REITs — 11.45% |
| |||||||
23,700 | AvalonBay Communities, Inc. | 2,667 | ||||||
184,300 | Camden Property Trust | 9,949 | ||||||
150,600 | Equity Residential | 7,824 | ||||||
429,100 | UDR, Inc. | 10,092 | ||||||
30,532 | ||||||||
Retail REITs — 15.76% |
| |||||||
390,300 | Kimco Realty Corp. | 7,041 | ||||||
173,200 | Regency Centers Corp. | 7,316 | ||||||
142,877 | Saul Centers, Inc. | 6,765 | ||||||
104,119 | Simon Property Group, Inc. | 10,359 | ||||||
35,534 | Unibail-Rodamco SE | 7,026 | ||||||
361,560 | Westfield Group | 3,542 | ||||||
42,049 | ||||||||
Shares or | Security | Value (000) | ||||||
Specialized REITs — 23.82% |
| |||||||
413,700 | HCP, Inc. | $ | 15,220 | |||||
628,843 | Host Hotels & Resorts, Inc. | 11,238 | ||||||
134,600 | Pebblebrook Hotel Trust | 2,735 | ||||||
503,500 | Plum Creek Timber Co., Inc. | 18,856 | ||||||
104,200 | Public Storage | 10,568 | ||||||
94,000 | Ventas, Inc. | 4,933 | ||||||
63,550 | ||||||||
Total Common Stocks | 254,453 | |||||||
Time Deposits — 4.14% | ||||||||
$ | 11,062 | State Street Liquidity Management Control System Time Deposit, 0.01%, 1/3/11 | 11,062 | |||||
Total Time Deposits | 11,062 | |||||||
Total Investments | 265,515 | |||||||
Other assets in excess of | 1,272 | |||||||
Net Assets — 100.00% | $ | 266,787 | ||||||
(a) | Represents non-income producing security. |
REITs — Real Estate Investment Trusts
See accompanying notes to financial statements
105
Table of Contents
HC CAPITAL TRUST
The Commodity Related Securities Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks — 96.83% |
| |||||||
Australia — 2.42% |
| |||||||
2,204,160 | Alumina Ltd. (Aluminum) | $ | 5,590 | |||||
Brazil — 4.32% |
| |||||||
113,500 | Petroleo Brasileiro SA – Sponsored ADR (Integrated Oil & Gas) | 4,295 | ||||||
188,800 | Vale SA – Sponsored ADR (Steel) | 5,705 | ||||||
10,000 | ||||||||
Canada — 17.05% |
| |||||||
160,200 | Cameco Corp. (Coal & Consumable Fuels) | 6,469 | ||||||
183,000 | Canadian Natural Resources Ltd. (Oil & Gas Exploration & Production) | 8,165 | ||||||
148,500 | EnCana Corp. (Oil & Gas Exploration & Production) | 4,346 | ||||||
30,200 | First Quantum Minerals Ltd. (Diversified Metals & Mining) | 3,281 | ||||||
46,500 | Imperial Oil Ltd. (Integrated Oil & Gas) | 1,884 | ||||||
225,300 | Kinross Gold Corp. (Gold) | 4,272 | ||||||
51,600 | MEG Energy Corp. (Oil & Gas Exploration & Production) (a) | 2,362 | ||||||
224,100 | Suncor Energy, Inc. (Integrated Oil & Gas) | 8,630 | ||||||
39,409 | ||||||||
China — 2.44% |
| |||||||
583,000 | China Shenhua Energy Co. Ltd., H Shares (Coal & Consumable Fuels) | 2,445 | ||||||
24,250 | PetroChina Co. Ltd. – Sponsored ADR (Integrated Oil & Gas) | 3,189 | ||||||
5,634 | ||||||||
France — 1.83% |
| |||||||
110,700 | ArcelorMittal – Registered (Steel) | 4,221 | ||||||
India — 2.34% |
| |||||||
114,260 | Reliance Industries Ltd. – Sponsored GDR (Oil & Gas Refining & Marketing) (b) | 5,411 | ||||||
Indonesia — 1.63% |
| |||||||
11,199,500 | PT Bumi Resources Tbk (Coal & Consumable Fuels) | 3,762 | ||||||
Ireland — 1.55% |
| |||||||
171,811 | CRH PLC (Construction Materials) | 3,592 | ||||||
Italy — 3.64% |
| |||||||
192,500 | Eni SpA – Sponsored ADR (Integrated Oil & Gas) | 8,420 | ||||||
Japan — 1.82% |
| |||||||
1,704,000 | Sumitomo Metal Industries Ltd. (Steel) | 4,199 | ||||||
Shares | Security | Value (000) | ||||||
Mongolia — 1.30% |
| |||||||
2,580,500 | Mongolian Mining Corp. (Diversified Metals & Mining) (a) | $ | 3,011 | |||||
Norway — 1.00% |
| |||||||
97,300 | Statoil ASA – Sponsored ADR (Integrated Oil & Gas) | 2,313 | ||||||
Russia — 3.30% |
| |||||||
167,372 | Gazprom – Sponsored ADR (Integrated Oil & Gas) | 4,258 | ||||||
471,041 | Rosneft Oil Co. OJSC – Registered Shares GDR (Integrated Oil & Gas) | 3,373 | ||||||
7,631 | ||||||||
South Africa — 5.78% |
| |||||||
59,658 | Anglo Platinum Ltd. (Precious Metals & Minerals) (a) | 6,296 | ||||||
55,000 | AngloGold Ashanti Ltd. – Sponsored ADR (Gold) | 2,707 | ||||||
107,443 | Gold Fields Ltd. (Gold) | 1,970 | ||||||
45,800 | Sasol Ltd. – Sponsored ADR (Integrated Oil & Gas) | 2,384 | ||||||
13,357 | ||||||||
United Kingdom — 22.11% |
| |||||||
153,779 | Anglo American PLC (Diversified Metals & Mining) | 7,996 | ||||||
422,776 | BG Group PLC (Integrated Oil & Gas) | 8,542 | ||||||
250,801 | BHP Billiton PLC (Diversified Metals & Mining) | 9,974 | ||||||
160,000 | BP PLC – Sponsored ADR (Integrated Oil & Gas) | 7,067 | ||||||
161,819 | Kazakhmys PLC (Diversified Metals & Mining) | 4,071 | ||||||
35,282 | Rio Tinto PLC (Diversified Metals & Mining) | 2,468 | ||||||
69,400 | Rio Tinto PLC – Sponsored ADR (Diversified Metals & Mining) | 4,973 | ||||||
153,584 | Vedanta Resources PLC (Diversified Metals & Mining) | 6,026 | ||||||
51,117 | ||||||||
United States — 24.30% |
| |||||||
10,500 | Cabot Oil & Gas Corp. (Oil & Gas Exploration & Production) | 397 | ||||||
199,500 | Chesapeake Energy Corp. (Oil & Gas Exploration & Production) | 5,169 | ||||||
122,600 | CONSOL Energy, Inc. (Coal & Consumable Fuels) | 5,976 | ||||||
3,700 | Denbury Resources, Inc. (Oil & Gas Exploration & Production) (a) | 71 | ||||||
48,000 | Devon Energy Corp. (Oil & Gas Exploration & Production) | 3,769 |
See accompanying notes to financial statements
106
Table of Contents
HC CAPITAL TRUST
The Commodity Related Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
United States (continued) |
| |||||||
77,600 | EOG Resources, Inc. (Oil & Gas Exploration & Production) | $ | 7,093 | |||||
72,200 | EQT Corp. (Oil & Gas Exploration & Production) | 3,237 | ||||||
186,400 | Exxon Mobil Corp. (Integrated Oil & Gas) | 13,630 | ||||||
22,400 | Freeport-McMoRan Copper & Gold, Inc. (Diversified Metals & Mining) | 2,690 | ||||||
78,900 | Nucor Corp. (Steel) | 3,457 | ||||||
151,300 | Southwestern Energy Co. (Oil & Gas Exploration & Production) (a) | 5,663 | ||||||
105,000 | Ultra Petroleum Corp. (Oil & Gas Exploration & Production) (a) | 5,016 | ||||||
56,168 | ||||||||
Total Common Stocks | 223,835 | |||||||
Principal | Security | Value (000) | ||||||
Time Deposits — 3.06% |
| |||||||
$ | 7,085 | State Street Liquidity Management Control System Time Deposit, | $ | 7,085 | ||||
Total Time Deposits | 7,085 | |||||||
Total Investments | 230,920 | |||||||
Other assets in excess of | 254 | |||||||
Net Assets — 100.00% | $ | 231,174 | ||||||
(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. |
ADR — American Depositary Receipt
GDR — Global Depositary Receipt
Currency Contracts
Contract | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/10 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Sold | ||||||||||||||||||||||||
156,898 | Canadian Dollar | Standard Chartered Bank | 1/6/11 | $ | 154 | $ | 157 | $ | (3 | ) | ||||||||||||||
30,699 | Canadian Dollar | Standard Chartered Bank | 1/7/11 | 30 | 31 | (1 | ) | |||||||||||||||||
Total Currencies Sold |
| $ | 184 | $ | 188 | $ | (4 | ) | ||||||||||||||||
Net Unrealized Appreciation/(Depreciation) |
| $ | (4 | ) | ||||||||||||||||||||
See accompanying notes to financial statements
107
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks — 98.02% |
| |||||||
Artisan Partners LP — 23.09% |
| |||||||
Australia — 0.43% |
| |||||||
51,630 | Coca-Cola Amatil Ltd. (Soft Drinks) | $ | 574 | |||||
740,189 | Foster’s Group Ltd. (Brewers) | 4,299 | ||||||
4,873 | ||||||||
Belgium — 0.27% |
| |||||||
52,747 | Anheuser-Busch InBev NV (Brewers) | 3,016 | ||||||
Canada — 0.62% |
| |||||||
19,806 | Canadian National Railway Co. (Railroads) | 1,316 | ||||||
88,328 | Canadian Pacific Railway Ltd. (Railroads) | 5,725 | ||||||
7,041 | ||||||||
China — 2.01% |
| |||||||
47,430 | Baidu, Inc., Class – A – Sponsored ADR (Internet Software & Services) (a) | 4,578 | ||||||
224,346 | Beijing Enterprises Holdings Ltd. (Industrial Conglomerates) | 1,391 | ||||||
4,012,224 | China Construction Bank Corp., H Shares (Diversified Banks) | 3,598 | ||||||
601,659 | China Life Insurance Co. Ltd., H Shares (Life & Health Insurance) | 2,458 | ||||||
361,215 | China Merchants Holdings International Co. Ltd. (Marine Ports & Services) | 1,427 | ||||||
617,157 | China Overseas Land & Investment Ltd. (Real Estate Development) | 1,142 | ||||||
690,200 | China Resources Land Ltd. (Real Estate Development) | 1,261 | ||||||
63,625 | Ctrip.com International Ltd. – Sponsored ADR (Hotels, Resorts & Cruise Lines) (a) | 2,573 | ||||||
1,031 | E-Commerce China Dangdang, Inc., Class – A – Sponsored ADR (Internet Retail) (a) | 28 | ||||||
2,211,391 | Huabao International Holdings Ltd. (Specialty Chemicals) | 3,579 | ||||||
36,800 | Tencent Holdings Ltd. (Internet Software & Services) | 800 | ||||||
883 | Youku.com, Inc., Class – A – Sponsored ADR (Systems Software) (a) | 31 | ||||||
22,866 | ||||||||
Denmark — 0.09% |
| |||||||
38,970 | Danske Bank A/S (Diversified Banks) (a) | 999 | ||||||
France — 2.59% |
| |||||||
59,629 | BNP Paribas (Diversified Banks) | 3,793 | ||||||
53,262 | Compagnie de Saint-Gobain (Building Products) | 2,740 |
Shares | Security | Value (000) | ||||||
France (continued) |
| |||||||
3,875 | LVMH Moet Hennessy Louis Vuitton SA (Apparel, Accessories & Luxury Goods) | $ | 637 | |||||
447,935 | Natixis (Diversified Banks) (a) | 2,095 | ||||||
79,732 | Pernod Ricard SA (Distillers & Vintners) | 7,495 | ||||||
29,583 | Publicis Groupe (Advertising) | 1,542 | ||||||
32,136 | Renault SA (Automobile Manufacturers) (a) | 1,868 | ||||||
25,083 | Unibail-Rodamco SE (Retail REITs) | 4,960 | ||||||
80,038 | Vinci SA (Construction & Engineering) | 4,350 | ||||||
29,480 | ||||||||
Germany — 2.91% |
| |||||||
8,911 | Adidas AG (Apparel, Accessories & Luxury Goods) | 587 | ||||||
37,880 | BASF SE (Diversified Chemicals) | 3,037 | ||||||
108,764 | Bayer AG (Pharmaceuticals) | 8,000 | ||||||
10,816 | Brenntag AG (Trading Companies & Distributors) (a)(b) | 1,098 | ||||||
108,635 | Daimler AG (Automobile Manufacturers) (a) | 7,391 | ||||||
36,489 | Linde AG (Industrial Gases) | 5,563 | ||||||
16,906 | Muenchener Rueckversicherungs-Gesellschaft AG (Reinsurance) | 2,561 | ||||||
29,034 | Rhoen-Klinikum AG (Health Care Facilities) | 636 | ||||||
33,173 | Siemens AG (Industrial Conglomerates) | 4,129 | ||||||
33,002 | ||||||||
Hong Kong — 4.59% |
| |||||||
1,740,200 | AIA Group Ltd. (Life & Health Insurance) (a)(b) | 4,892 | ||||||
598,331 | BOC Hong Kong (Holdings) Ltd. (Diversified Banks) | 2,036 | ||||||
233,100 | Cheung Kong (Holdings) Ltd. (Diversified Real Estate Activities) | 3,596 | ||||||
276,500 | Galaxy Entertainment Group Ltd. (Casinos & Gaming) (a) | 313 | ||||||
120,778 | Hang Seng Bank Ltd. (Diversified Banks) | 1,986 | ||||||
476,400 | Henderson Land Development Co. Ltd. (Diversified Real Estate Activities) | 3,248 | ||||||
148,600 | Hong Kong Exchanges & Clearing Ltd. (Specialized Finance) | 3,370 | ||||||
196,630 | HongKong Land Holdings Ltd. (Diversified Real Estate Activities) | 1,420 | ||||||
700,000 | Li & Fung Ltd. (Distributors) | 4,062 | ||||||
785,174 | New World Development Co. Ltd (Diversified Real Estate Activities) | 1,475 |
See accompanying notes to financial statements
108
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Artisan Partners LP (continued) |
| |||||||
Hong Kong (continued) |
| |||||||
1,388,045 | NWS Holdings Ltd. (Industrial Conglomerates) | $ | 2,107 | |||||
4,714,436 | Sands China Ltd. (Casinos & Gaming) (a) | 10,360 | ||||||
1,865,500 | Sino Land Co. Ltd. (Diversified Real Estate Activities) | 3,490 | ||||||
246,400 | Sun Hung Kai Properties Ltd. (Diversified Real Estate Activities) | 4,093 | ||||||
150,400 | The Bank of East Asia Ltd. (Diversified Banks) | 630 | ||||||
2,255,497 | Wynn Macau Ltd. (Casinos & Gaming) | 5,049 | ||||||
52,127 | ||||||||
Italy — 0.27% |
| |||||||
1,127,545 | Intesa Sanpaolo (Diversified Banks) | 3,058 | ||||||
Japan — 1.29% |
| |||||||
37,200 | Canon, Inc. (Office Electronics) | 1,929 | ||||||
104,600 | Honda Motor Co. Ltd. (Automobile Manufacturers) | 4,143 | ||||||
306,900 | MITSUI & CO. Ltd. (Trading Companies & Distributors) | 5,070 | ||||||
100,300 | SOFTBANK Corp. (Wireless Telecommunication Services) | 3,474 | ||||||
14,616 | ||||||||
Netherlands — 1.52% |
| |||||||
52,876 | Akzo Nobel NV (Diversified Chemicals) | 3,284 | ||||||
203,678 | ASML Holding NV (Semiconductor Equipment) | 7,865 | ||||||
399,154 | ING Groep NV (Other Diversified Financial Services) (a) | 3,882 | ||||||
86,921 | TNT NV (Air Freight & Logistics) | 2,294 | ||||||
17,325 | ||||||||
Singapore — 0.45% |
| |||||||
107,400 | City Developments Ltd. (Diversified Real Estate Activities) | 1,052 | ||||||
1,175,787 | Genting Singapore PLC (Casinos & Gaming) (a) | 2,007 | ||||||
272,600 | Oversea-Chinese Banking Corp. Ltd. (Diversified Banks) | 2,099 | ||||||
5,158 | ||||||||
Spain — 0.57% |
| |||||||
147,565 | Amadeus IT Holding SA, A Shares (Data Processing & Outsourced Services) (a)(b) | 3,092 | ||||||
44,524 | Industria de Diseno Textil SA (Apparel Retail) (b) | 3,333 | ||||||
6,425 | ||||||||
Shares | Security | Value (000) | ||||||
Sweden — 0.25% |
| |||||||
145,405 | Sandvik AB (Industrial Machinery) | $ | 2,836 | |||||
Switzerland — 1.85% |
| |||||||
81,422 | Adecco SA (Human Resource & Employment Services) | 5,335 | ||||||
179,255 | Nestle SA (Packaged Foods & Meats) | 10,500 | ||||||
835 | Roche Holding AG (Pharmaceuticals) | 128 | ||||||
11,208 | The Swatch Group AG (Apparel, Accessories & Luxury Goods) | 4,998 | ||||||
20,961 | ||||||||
Turkey — 0.01% |
| |||||||
9,813 | Coca-Cola Icecek A/S (Soft Drinks) | 130 | ||||||
United Kingdom — 3.26% |
| |||||||
542,594 | Experian PLC (Research and Consulting Services) | 6,750 | ||||||
162,026 | Imperial Tobacco Group PLC (Tobacco) | 4,971 | ||||||
1,415,566 | Kingfisher PLC (Home Improvement Retail) | 5,812 | ||||||
45,017 | Standard Chartered PLC (Diversified Banks) | 1,211 | ||||||
1,091,916 | Tesco PLC (Food Retail) | 7,234 | ||||||
622,969 | WPP PLC (Broadcasting) | 7,667 | ||||||
145,843 | Xstrata PLC (Diversified Metals & Mining) | 3,423 | ||||||
37,068 | ||||||||
United States — 0.11% |
| |||||||
25,666 | Accenture PLC, Class – A (IT Consulting & Other Services) | 1,244 | ||||||
Total Artisan Partners LP | 262,225 | |||||||
Capital Guardian Trust Co. — 41.02% |
| |||||||
Australia — 1.57% |
| |||||||
223,704 | Alumina Ltd. (Aluminum) | 567 | ||||||
63,913 | Brambles Ltd. (Diversified Support Services) | 466 | ||||||
198,119 | Coca-Cola Amatil Ltd. (Soft Drinks) | 2,200 | ||||||
104,238 | CSL Ltd. (Biotechnology) | 3,868 | ||||||
167,099 | Iluka Resources Ltd. (Diversified Metals & Mining) (a) | 1,562 | ||||||
58,736 | Newcrest Mining Ltd. (Gold) | 2,429 | ||||||
1,016,881 | Qantas Airways Ltd. (Airlines) (a) | 2,641 | ||||||
884,292 | Telstra Corp. Ltd. (Integrated Telecommunication Services) | 2,523 | ||||||
56,664 | Woolworths Ltd. (Food Retail) | 1,563 | ||||||
17,819 | ||||||||
Austria — 0.37% |
| |||||||
37,491 | Andritz AG (Industrial Machinery) | 3,446 | ||||||
30,318 | Telekom Austria AG (Integrated Telecommunication Services) | 426 |
See accompanying notes to financial statements
109
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Capital Guardian Trust Co. (continued) |
| |||||||
Austria (continued) |
| |||||||
7,323 | Vienna Insurance Group Wiener Staedtische Versicherung AG (Multi-line Insurance) | $ | 380 | |||||
4,252 | ||||||||
Brazil — 0.54% |
| |||||||
22,000 | Banco Bradesco SA – Sponsored ADR (Diversified Banks) | 446 | ||||||
121,700 | Hypermarcas SA (Personal Products) (a) | 1,652 | ||||||
4,800 | Petroleo Brasileiro SA – Sponsored ADR (Integrated Oil & Gas) | 182 | ||||||
15,200 | Petroleo Brasileiro SA – Sponsored ADR (Integrated Oil & Gas) | 519 | ||||||
111,900 | Vale SA – Sponsored ADR (Steel) | 3,382 | ||||||
6,181 | ||||||||
Canada — 2.90% |
| |||||||
146,100 | Barrick Gold Corp. (Gold) | 7,770 | ||||||
26,700 | BCE, Inc. (Integrated Telecommunication Services) | 949 | ||||||
145,300 | Cameco Corp. (Coal & Consumable Fuels) | 5,891 | ||||||
23,800 | Canadian Natural Resources Ltd. (Oil & Gas Exploration & Production) | 1,062 | ||||||
74,600 | Cenovus Energy, Inc. (Integrated Oil & Gas) | 2,498 | ||||||
198,300 | Centerra Gold, Inc. (Gold) (b) | 3,958 | ||||||
6,200 | First Quantum Minerals Ltd. (Diversified Metals & Mining) | 674 | ||||||
44,700 | Inmet Mining Corp. (Diversified Metals & Mining) | 3,474 | ||||||
30,200 | Intact Financial Corp. (Property & Casualty Insurance) | 1,545 | ||||||
44,200 | Ivanhoe Mines Ltd. (Diversified Metals & Mining) (a) | 1,023 | ||||||
16,000 | Onex Corp. (Multi-Sector Holdings) | 487 | ||||||
6,900 | Potash Corp. of Saskatchewan, Inc. (Fertilizers & Agricultural Chemicals) | 1,072 | ||||||
59,100 | Telus Corp. (Integrated Telecommunication Services) | 2,571 | ||||||
32,974 | ||||||||
China — 0.59% |
| |||||||
950,000 | Agricultural Bank of China Ltd., H Shares (Diversified Banks) (a) | 477 | ||||||
2,919,613 | Bank of China Ltd., H Shares (Diversified Banks) | 1,540 |
Shares | Security | Value (000) | ||||||
China (continued) |
| |||||||
521,500 | China Railway Construction Corp. Ltd., H Shares (Construction & Engineering) | $ | 628 | |||||
236,500 | China Shenhua Energy Co. Ltd., H Shares (Coal & Consumable Fuels) | 992 | ||||||
1,854,058 | Industrial and Commercial Bank of China Ltd., H Shares (Diversified Banks) | 1,381 | ||||||
37,600 | Jardine Matheson Holdings Ltd. (Industrial Conglomerates) | 1,654 | ||||||
6,672 | ||||||||
Denmark — 0.60% |
| |||||||
50,288 | Novo Nordisk A/S, Class – B (Pharmaceuticals) | 5,672 | ||||||
137,000 | TDC A/S (Integrated Telecommunication Services) (a)(b) | 1,190 | ||||||
6,862 | ||||||||
Finland — 0.41% |
| |||||||
144,529 | Sampo Oyj, A Shares (Multi-line Insurance) | 3,872 | ||||||
70,348 | Stora Enso Oyj, R Shares (Paper Products) | 722 | ||||||
4,594 | ||||||||
France — 3.70% |
| |||||||
17,317 | Air Liquide SA (Industrial Gases) | 2,190 | ||||||
40,299 | AXA SA (Multi-line Insurance) (b) | 670 | ||||||
101,296 | BNP Paribas (Diversified Banks) (b) | 6,444 | ||||||
81,285 | Bouygues SA (Construction & Engineering) | 3,503 | ||||||
15,093 | Compagnie Generale des Etablissements Michelin, Class – B (Tires & Rubber) (b) | 1,083 | ||||||
113,253 | Danone SA (Packaged Foods & Meats) | 7,115 | ||||||
47,105 | GDF Suez (Multi-Utilities) | 1,690 | ||||||
34,215 | JC Decaux SA (Advertising) (a) | 1,052 | ||||||
21,137 | L’Oreal SA (Personal Products) | 2,346 | ||||||
11,308 | Lafarge SA (Construction Materials) | 709 | ||||||
6,573 | LVMH Moet Hennessy Louis Vuitton SA (Apparel, Accessories & Luxury Goods) | 1,081 | ||||||
93,556 | Pernod Ricard SA (Distillers & Vintners) | 8,795 | ||||||
29,100 | Societe Generale (Diversified Banks) | 1,564 | ||||||
35,718 | Total SA (Integrated Oil & Gas) | 1,892 | ||||||
63,290 | Veolia Environnement (Multi-Utilities) | 1,849 | ||||||
41,983 | ||||||||
Germany — 3.19% |
| |||||||
13,788 | Allianz SE (Multi-line Insurance) | 1,639 |
See accompanying notes to financial statements
110
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Capital Guardian Trust Co. (continued) |
| |||||||
Germany (continued) |
| |||||||
60,810 | Bayer AG (Pharmaceuticals) | $ | 4,473 | |||||
11,572 | Bayerische Motoren Werke AG (Automobile Manufacturers) | 908 | ||||||
10,700 | Brenntag AG (Trading Companies & Distributors) (a)(b) | 1,086 | ||||||
107,510 | Daimler AG (Automobile Manufacturers) (a) | 7,314 | ||||||
23,288 | Deutsche Bank AG (Diversified Capital Markets) | 1,215 | ||||||
34,608 | HeidelbergCement AG (Construction Materials) | 2,162 | ||||||
10,692 | K+S AG (Fertilizers & Agricultural Chemicals) (b) | 809 | ||||||
4,863 | Linde AG (Industrial Gases) | 741 | ||||||
7,166 | Metro AG (Hypermarkets & Super Centers) | 516 | ||||||
13,199 | Muenchener Rueckversicherungs-Gesellschaft AG (Reinsurance) | 2,000 | ||||||
136,681 | SAP AG (Application Software) | 6,926 | ||||||
51,924 | Siemens AG (Industrial Conglomerates) | 6,464 | ||||||
36,253 | ||||||||
Hong Kong — 2.03% |
| |||||||
1,554,400 | AIA Group Ltd. (Life & Health Insurance) (a)(b) | 4,370 | ||||||
306,000 | BOC Hong Kong (Holdings) Ltd. (Diversified Banks) | 1,041 | ||||||
1,722,270 | Hong Kong & China Gas Co. Ltd. (Gas Utilities) | 4,059 | ||||||
426,000 | Li & Fung Ltd. (Distributors) | 2,472 | ||||||
51,000 | Sun Hung Kai Properties Ltd. (Diversified Real Estate Activities) | 847 | ||||||
103,500 | Swire Pacific Ltd., Class – A (Diversified Real Estate Activities) | 1,702 | ||||||
269,780 | The Bank of East Asia Ltd. (Diversified Banks) | 1,130 | ||||||
454,000 | The Link REIT (Retail REITs) | 1,411 | ||||||
603,000 | The Wharf (Holdings) Ltd. (Diversified Real Estate Activities) | 4,639 | ||||||
406,000 | Tingyi (Cayman Islands) Holding Corp. (Packaged Foods & Meats) | 1,040 | ||||||
27,500 | Wing Hang Bank Ltd. (Diversified Banks) | 380 | ||||||
23,091 | ||||||||
India — 0.25% |
| |||||||
3,700 | HDFC Bank Ltd. – Sponsored ADR (Diversified Banks) | 618 | ||||||
18,400 | ICICI Bank Ltd. – Sponsored ADR (Diversified Banks) | 932 |
Shares | Security | Value (000) | ||||||
India (continued) |
| |||||||
27,600 | Reliance Industries Ltd. – Sponsored GDR (Oil & Gas Refining & Marketing) | $ | 1,307 | |||||
2,857 | ||||||||
Ireland — 0.38% |
| |||||||
208,294 | CRH PLC (Construction Materials) | 4,314 | ||||||
Israel — 0.14% |
| |||||||
94,425 | Israel Chemicals Ltd. (Fertilizers & Agricultural Chemicals) | 1,620 | ||||||
Japan — 7.38% |
| |||||||
330,000 | Aozora Bank Ltd. (Diversified Banks) | 683 | ||||||
61,700 | Canon, Inc. (Office Electronics) | 3,200 | ||||||
124,800 | DENSO Corp. (Auto Parts & Equipment) | 4,308 | ||||||
18,000 | Fanuc Ltd. (Industrial Machinery) | 2,765 | ||||||
24,900 | IBIDEN Co. Ltd. (Electronic Components) | 786 | ||||||
249,000 | ISUZU MOTORS Ltd. (Automobile Manufacturers) | 1,132 | ||||||
59,000 | JGC Corp. (Construction & Engineering) | 1,284 | ||||||
121,000 | Kawasaki Kisen Kaisha Ltd. (Marine) | 532 | ||||||
20,700 | Keyence Corp. (Electronic Equipment & Instruments) | 5,998 | ||||||
89,700 | Kurita Water Industries Ltd. (Industrial Machinery) | 2,827 | ||||||
517,000 | Mazda Motor Corp. (Automobile Manufacturers) | 1,484 | ||||||
35,300 | Mitsubishi Corp. (Trading Companies & Distributors) | 956 | ||||||
128,600 | Mitsubishi UFJ Financial Group, Inc. (Diversified Banks) | 696 | ||||||
132,000 | Mitsui Fudosan Co. Ltd. (Diversified Real Estate Activities) | 2,633 | ||||||
448,000 | Mitsui O.S.K. Lines Ltd. (Marine) | 3,058 | ||||||
110,100 | Murata Manufacturing Co. Ltd. (Electronic Components) | 7,718 | ||||||
18,000 | Nintendo Co. Ltd. (Home Entertainment Software) | 5,284 | ||||||
327 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 571 | ||||||
45,700 | Oracle Corp. Japan (Systems Software) | 2,246 | ||||||
7,400 | Shimamura Co. Ltd. (Apparel Retail) | 687 | ||||||
21,800 | SMC Corp. (Industrial Machinery) | 3,736 | ||||||
345,800 | SOFTBANK Corp. (Wireless Telecommunication Services) | 11,975 | ||||||
18,800 | SONY Corp. (Electrical Components & Equipment) | 678 | ||||||
200,000 | Sumitomo Chemical Co. Ltd. (Diversified Chemicals) | 986 | ||||||
182,800 | Sumitomo Corp. (Trading Companies & Distributors) | 2,588 |
See accompanying notes to financial statements
111
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Capital Guardian Trust Co. (continued) |
| |||||||
Japan (continued) |
| |||||||
53,900 | Suzuki Motor Corp. (Automobile Manufacturers) | $ | 1,328 | |||||
50,100 | Sysmex Corp. (Health Care Equipment) | 3,475 | ||||||
15,300 | TDK Corp. (Electronic Components) | 1,065 | ||||||
12,100 | Terumo Corp. (Health Care Equipment) | 681 | ||||||
28,500 | Tokio Marine Holdings, Inc. (Property & Casualty Insurance) | 852 | ||||||
20,900 | Tokyo Electron Ltd. (Semiconductor Equipment) | 1,324 | ||||||
147,800 | Trend Micro, Inc. (Systems Software) | 4,882 | ||||||
3,562 | Yahoo Japan Corp. (Internet Software & Services) | 1,382 | ||||||
83,800 | ||||||||
Jersey — 0.32% |
| |||||||
149,145 | Shire PLC (Pharmaceuticals) | 3,588 | ||||||
Luxembourg — 0.35% |
| |||||||
37,368 | SES – FDR (Cable & Satellite) | 919 | ||||||
128,320 | SES – FDR, Class – A (Cable & Satellite) | 3,054 | ||||||
3,973 | ||||||||
Malaysia — 0.06% |
| |||||||
265,000 | CIMB Group Holdings Berhad (Diversified Banks) | 731 | ||||||
Mexico — 0.41% |
| |||||||
67,600 | America Movil SAB de CV, | 3,876 | ||||||
47,600 | Telefonos de Mexico SAB de CV, | 768 | ||||||
4,644 | ||||||||
Netherlands — 1.75% |
| |||||||
171,532 | ASML Holding NV (Semiconductor Equipment) | 6,623 | ||||||
28,428 | ASML Holding NV – NYS (Semiconductor Equipment) | 1,090 | ||||||
18,600 | European Aeronautic Defence and Space Co. (Aerospace & Defense) (a) | 434 | ||||||
18,400 | Koninklijke DSM NV (Diversified Chemicals) | 1,047 | ||||||
509,598 | Koninklijke KPN NV (Integrated Telecommunication Services) | 7,435 | ||||||
146,180 | Wolters Kluwer NV (Publishing) | 3,203 | ||||||
19,832 | ||||||||
Norway — 0.35% |
| |||||||
116,405 | Seadrill Ltd. (Oil & Gas Drilling) | 3,936 | ||||||
Shares | Security | Value (000) | ||||||
Papua New Guinea — 0.22% |
| |||||||
347,771 | Oil Search Ltd. (Oil & Gas Exploration & Production) (b) | $ | 2,504 | |||||
Poland — 0.11% |
| |||||||
6,700 | Powszechny Zaklad Ubezpieczen SA (Multi-line Insurance) (b) | 805 | ||||||
85,700 | Telekomunikacja Polska SA (Integrated Telecommunication Services) | 474 | ||||||
1,279 | ||||||||
Russia — 0.37% |
| |||||||
163,678 | Gazprom – Sponsored ADR (Integrated Oil & Gas) | 4,164 | ||||||
Singapore — 0.32% |
| |||||||
246,141 | DBS Group Holdings Ltd. (Diversified Banks) | 2,747 | ||||||
193,000 | Olam International Ltd. (Food Distributors) | 472 | ||||||
84,000 | Wilmar International Ltd. (Industrial Conglomerates) | 369 | ||||||
3,588 | ||||||||
South Africa — 0.06% |
| |||||||
18,000 | Impala Platinum Holdings Ltd. (Precious Metals & Minerals) | 638 | ||||||
South Korea — 1.26% |
| |||||||
38,500 | Hynix Semiconductor, Inc. (Semiconductors) (a) | 814 | ||||||
8,500 | Hyundai Mobis (Auto Parts & Equipment) (a) | 2,131 | ||||||
8,830 | LG Chem Ltd. (Commodity Chemicals) (a) | 3,043 | ||||||
9,968 | Samsung Electronics Co. Ltd. (Semiconductors) | 8,337 | ||||||
14,325 | ||||||||
Spain — 0.28% |
| |||||||
13,572 | Industria de Diseno Textil SA (Apparel Retail) | 1,016 | ||||||
62,200 | Repsol YPF SA (Integrated Oil & Gas) | 1,733 | ||||||
18,380 | Telefonica SA (Integrated Telecommunication Services) | 416 | ||||||
3,165 | ||||||||
Sweden — 0.70% |
| |||||||
116,850 | Assa Abloy AB, Class – B (Building Products) | 3,294 | ||||||
63,814 | Hennes & Mauritz AB, B Shares (Apparel Retail) | 2,127 | ||||||
99,728 | Svenska Cellulosa AB, B Shares (Paper Products) | 1,576 | ||||||
30,300 | Svenska Handelsbanken AB, A Shares (Diversified Banks) | 969 | ||||||
7,966 | ||||||||
See accompanying notes to financial statements
112
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Capital Guardian Trust Co. (continued) |
| |||||||
Switzerland — 3.48% |
| |||||||
18,925 | Compagnie Financiere Richemont SA, Class – A (Apparel, Accessories & Luxury Goods) | $ | 1,114 | |||||
16,486 | Credit Suisse Group AG (Diversified Capital Markets) | 664 | ||||||
55,886 | Holcim Ltd. – Registered (Construction Materials) (b) | 4,224 | ||||||
58,658 | Nestle SA (Packaged Foods & Meats) | 3,436 | ||||||
74,276 | Novartis AG – Registered (Pharmaceuticals) | 4,367 | ||||||
63,160 | Roche Holding AG – Genusscheine (Pharmaceuticals) | 9,257 | ||||||
8,600 | Swisscom AG – Registered (Integrated Telecommunication Services) | 3,782 | ||||||
11,445 | Syngenta AG – Registered (Fertilizers & Agricultural Chemicals) | 3,349 | ||||||
8,422 | Synthes, Inc. (Health Care Equipment) | 1,138 | ||||||
17,300 | Transocean Ltd. (Oil & Gas Drilling) (a) | 1,186 | ||||||
429,647 | UBS AG – Registered (Diversified Capital Markets) (a)(b) | 7,056 | ||||||
39,573 | ||||||||
Taiwan — 0.06% |
| |||||||
86,610 | Hon Hai Precision Industry Co. Ltd. – Sponsored GDR (Electronic Manufacturing Services) | 693 | ||||||
United Kingdom — 6.87% |
| |||||||
58,422 | Anglo American PLC (Diversified Metals & Mining) | 3,038 | ||||||
350,938 | ARM Holdings PLC (Semiconductors) | 2,316 | ||||||
11,955 | AstraZeneca PLC (Pharmaceuticals) | 545 | ||||||
59,300 | Autonomy Corp. PLC (Application Software) (a) | 1,391 | ||||||
1,031,379 | Barclays PLC (Diversified Banks) | 4,207 | ||||||
347,106 | BG Group PLC (Integrated Oil & Gas) | 7,013 | ||||||
137,397 | BHP Billiton PLC (Diversified Metals & Mining) | 5,464 | ||||||
766,400 | Cable & Wireless Worldwide PLC (Alternative Carriers) | 785 | ||||||
469,100 | Cairn Energy PLC (Oil & Gas Exploration & Production) (a) | 3,071 | ||||||
105,100 | Diageo PLC (Distillers & Vintners) | 1,941 | ||||||
1,070,400 | Dixons Retail PLC (Computer & Electronics Retail) (a) | 382 | ||||||
899,300 | GKN PLC (Auto Parts & Equipment) | 3,115 | ||||||
82,800 | HSBC Holdings PLC (Diversified Banks) | 849 |
Shares | Security | Value (000) | ||||||
United Kingdom (continued) |
| |||||||
737,648 | HSBC Holdings PLC (Diversified Banks) | $ | 7,487 | |||||
183,888 | Imperial Tobacco Group PLC (Tobacco) | 5,641 | ||||||
4,256,100 | Lloyds Banking Group PLC (Diversified Banks) (a) | 4,359 | ||||||
100,660 | National Grid PLC (Multi-Utilities) | 868 | ||||||
122,700 | Premier Farnell PLC (Technology Distributors) | 549 | ||||||
169,039 | Prudential PLC (Life & Health Insurance) | 1,760 | ||||||
73,667 | Rio Tinto PLC (Diversified Metals & Mining) | 5,152 | ||||||
35,100 | Rotork PLC (Industrial Machinery) | 1,000 | ||||||
191,970 | Royal Dutch Shell PLC, A Shares (Integrated Oil & Gas) | 6,343 | ||||||
6,100 | Shire PLC – Sponsored ADR (Pharmaceuticals) | 442 | ||||||
20,083 | Standard Chartered PLC (Diversified Banks) | 547 | ||||||
49,617 | Standard Chartered PLC (Diversified Banks) | 1,335 | ||||||
972,589 | Tesco PLC (Food Retail) | 6,444 | ||||||
167,100 | Vodafone Group PLC (Wireless Telecommunication Services) | 432 | ||||||
66,634 | Xstrata PLC (Diversified Metals & Mining) | 1,564 | ||||||
78,040 | ||||||||
Total Capital Guardian Trust Co. | 465,911 | |||||||
Causeway Capital Management LLC — 33.91% |
| |||||||
Canada — 0.12% |
| |||||||
142,400 | Precision Drilling Corp. (Oil & Gas Drilling) (a) | 1,375 | ||||||
China — 0.58% |
| |||||||
1,839,500 | Yue Yuen Industrial (Holdings) Ltd. (Footwear) | 6,615 | ||||||
France — 3.33% |
| |||||||
347,165 | AXA SA (Multi-line Insurance) | 5,775 | ||||||
90,635 | BNP Paribas (Diversified Banks) | 5,765 | ||||||
159,281 | Sanofi-Aventis (Pharmaceuticals) | 10,183 | ||||||
69,356 | Technip SA (Oil & Gas Equipment & Services) | 6,403 | ||||||
179,504 | Vinci SA (Construction & Engineering) | 9,757 | ||||||
37,883 | ||||||||
Germany — 4.10% |
| |||||||
82,017 | Bayer AG (Pharmaceuticals) | 6,033 | ||||||
414,016 | Deutsche Post AG (Air Freight & Logistics) | 6,992 |
See accompanying notes to financial statements
113
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Causeway Capital Management LLC (continued) |
| |||||||
Germany (continued) |
| |||||||
151,250 | E.ON AG (Electric Utilities) | $ | 4,621 | |||||
74,564 | Linde AG (Industrial Gases) | 11,367 | ||||||
43,254 | Muenchener Rueckversicherungs-Gesellschaft AG (Reinsurance) | 6,553 | ||||||
88,190 | Siemens AG (Industrial Conglomerates) | 10,978 | ||||||
46,544 | ||||||||
Greece — 0.45% |
| |||||||
293,719 | OPAP SA (Casinos & Gaming) | 5,078 | ||||||
Italy — 0.95% |
| |||||||
981,867 | Snam Rete Gas SpA (Gas Utilities) | 4,880 | ||||||
2,881,024 | UniCredit SpA (Diversified Banks) | 5,959 | ||||||
10,839 | ||||||||
Japan — 7.14% |
| |||||||
45,300 | Fanuc Ltd. (Industrial Machinery) | 6,959 | ||||||
2,524,000 | HASEKO Corp. (Homebuilding) (a) | 2,239 | ||||||
188,900 | Honda Motor Co. Ltd. (Automobile Manufacturers) | 7,482 | ||||||
318,000 | JGC Corp. (Construction & Engineering) | 6,923 | ||||||
857 | KDDI Corp. (Wireless Telecommunication Services) | 4,952 | ||||||
1,100,800 | Mitsubishi UFJ Financial Group, Inc. (Diversified Banks) | 5,953 | ||||||
115,700 | Sankyo Co. Ltd. (Leisure Products) | 6,535 | ||||||
176,300 | Shin-Etsu Chemical Co. Ltd. (Specialty Chemicals) | 9,557 | ||||||
34,900 | SMC Corp. (Industrial Machinery) | 5,981 | ||||||
2,744 | Sony Financial Holdings, Inc. (Life & Health Insurance) (b) | 11,105 | ||||||
84,900 | Tokyo Electron Ltd. (Semiconductor Equipment) | 5,376 | ||||||
203,100 | Toyota Motor Corp. (Automobile Manufacturers) | 8,057 | ||||||
81,119 | ||||||||
Netherlands — 3.70% |
| |||||||
184,278 | Akzo Nobel NV (Diversified Chemicals) | 11,445 | ||||||
302,903 | European Aeronautic Defence and Space Co. (Aerospace & Defense) (a) | 7,058 | ||||||
92,315 | Gemalto NV (Computer Storage & Peripherals) | 3,928 | ||||||
819,157 | Reed Elsevier NV (Publishing) | 10,131 | ||||||
357,465 | TNT NV (Air Freight & Logistics) | 9,433 | ||||||
41,995 | ||||||||
Shares | Security | Value (000) | ||||||
Norway — 0.87% |
| |||||||
579,120 | Aker Solutions ASA (Oil & Gas Equipment & Services) | $ | 9,856 | |||||
Singapore — 0.57% |
| |||||||
546,000 | Singapore Airlines Ltd. (Airlines) | 6,511 | ||||||
South Korea — 1.28% |
| |||||||
22,549 | Hyundai Heavy Industries Co. Ltd. (Construction & Farm Machinery & Heavy Trucks) (a) | 8,804 | ||||||
99,952 | KT&G Corp. (Tobacco) (a) | 5,699 | ||||||
14,503 | ||||||||
Spain — 0.99% |
| |||||||
410,875 | Banco Santander SA (Diversified Banks) | 4,352 | ||||||
345,584 | Enagas (Gas Utilities) | 6,887 | ||||||
11,239 | ||||||||
Sweden — 0.67% |
| |||||||
916,563 | Skandinaviska Enskilda Banken AB, Class – A (Diversified Banks) | 7,651 | ||||||
Switzerland — 3.80% |
| |||||||
69,645 | Compagnie Financiere Richemont SA, Class – A (Apparel, Accessories & Luxury Goods) | 4,098 | ||||||
6,746 | Givaudan SA – Registered (Specialty Chemicals) | 7,282 | ||||||
120,316 | Novartis AG – Registered (Pharmaceuticals) | 7,073 | ||||||
47,388 | Roche Holding AG – Genusscheine (Pharmaceuticals) | 6,946 | ||||||
44,178 | Transocean Ltd. (Oil & Gas Drilling) (a) | 3,027 | ||||||
519,679 | UBS AG – Registered (Diversified Capital Markets) (a) | 8,535 | ||||||
23,965 | Zurich Financial Services AG (Multi-line Insurance) | 6,210 | ||||||
43,171 | ||||||||
United Kingdom — 5.36% |
| |||||||
912,999 | Aviva PLC (Multi-line Insurance) | 5,593 | ||||||
254,230 | Balfour Beatty PLC (Construction & Engineering) | 1,240 | ||||||
184,003 | British American Tobacco PLC (Tobacco) | 7,066 | ||||||
115,304 | Eurasian Natural Resource Corp. (Diversified Metals & Mining) | 1,884 | ||||||
639,266 | HSBC Holdings PLC (Diversified Banks) | 6,555 | ||||||
586,741 | Michael Page International PLC (Human Resource & Employment Services) | 5,076 | ||||||
1,068,880 | Rexam PLC (Metal & Glass Containers) | 5,544 |
See accompanying notes to financial statements
114
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Shares or | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Causeway Capital Management LLC (continued) |
| |||||||
United Kingdom (continued) |
| |||||||
125,486 | Rio Tinto PLC (Diversified Metals & Mining) | $ | 8,777 | |||||
1,017,427 | Rolls-Royce Group PLC (Aerospace & Defense) | 9,881 | ||||||
3,567,949 | Vodafone Group PLC (Wireless Telecommunication Services) | 9,222 | ||||||
60,838 | ||||||||
Total Causeway Capital Management LLC | 385,217 | |||||||
Total Common Stocks | 1,113,353 | |||||||
Convertible Corporate Bonds — 0.02% |
| |||||||
Capital Guardian Trust Co. — 0.02% |
| |||||||
$ | 200 | SeaDrill Ltd., | 248 | |||||
Total Convertible Corporate Bonds | 248 | |||||||
Time Deposits — 2.02% |
| |||||||
Artisan Partners LP — 0.63% |
| |||||||
7,139 | State Street Liquidity Management Control System Time Deposit, | 7,139 | ||||||
Capital Guardian Trust Co. — 0.93% |
| |||||||
10,560 | State Street Liquidity Management Control System Time Deposit, | 10,560 | ||||||
Shares or | Security | Value (000) | ||||||
Causeway Capital Management LLC — 0.46% |
| |||||||
$ | 5,301 | State Street Liquidity Management Control System Time Deposit, | $ | 5,301 | ||||
Total Time Deposits | 23,000 | |||||||
Rights — 0.01% |
| |||||||
Capital Guardian Trust Co. — 0.01% |
| |||||||
44,200 | Ivanhoe Mines Ltd. (Diversified Metals & Mining) | 60 | ||||||
Total Rights | 60 | |||||||
Total Investments | 1,136,661 | |||||||
Liabilities in excess of other | (783 | ) | ||||||
Net Assets — 100.00% | $ | 1,135,878 | ||||||
(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. |
ADR — American Depositary Receipt
FDR — Fiduciary Depositary Receipt
GDR — Global Depositary Receipt
NYS — New York Shares
REITs — Real Estate Investment Trusts
Currency Contracts
Capital Guardian Trust Co.
Contract | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/10 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Sold | ||||||||||||||||||||||||
8,115,748 | Euro | Bank of New York | 1/24/11 | $ | 10,680 | $ | 10,843 | $ | (163 | ) | ||||||||||||||
Total Currencies Sold | $ | 10,680 | $ | 10,843 | $ | (163 | ) | |||||||||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | (163 | ) | |||||||||||||||||||||
See accompanying notes to financial statements
115
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks — 97.26% |
| |||||||
Artisan Partners LP — 25.53% |
| |||||||
Australia — 0.46% |
| |||||||
67,032 | Coca-Cola Amatil Ltd. (Soft Drinks) | $ | 745 | |||||
1,275,642 | Foster’s Group Ltd. (Brewers) | 7,409 | ||||||
8,154 | ||||||||
Belgium — 0.30% |
| |||||||
93,135 | Anheuser-Busch InBev NV (Brewers) | 5,326 | ||||||
Canada — 0.67% |
| |||||||
34,971 | Canadian National Railway Co. (Railroads) | 2,324 | ||||||
148,924 | Canadian Pacific Railway Ltd. (Railroads) | 9,652 | ||||||
11,976 | ||||||||
China — 2.23% |
| |||||||
80,075 | Baidu, Inc., Class – A – Sponsored ADR (Internet Software & Services) (a) | 7,730 | ||||||
396,923 | Beijing Enterprises Holdings Ltd. (Industrial Conglomerates) | 2,461 | ||||||
6,909,900 | China Construction Bank Corp., H Shares (Diversified Banks) | 6,196 | ||||||
1,065,903 | China Life Insurance Co. Ltd., H Shares (Life & Health Insurance) | 4,354 | ||||||
641,370 | China Merchants Holdings International Co. Ltd. (Marine Ports & Services) | 2,533 | ||||||
1,104,154 | China Overseas Land & Investment Ltd. (Real Estate Development) | 2,043 | ||||||
1,220,000 | China Resources Land Ltd. (Real Estate Development) | 2,229 | ||||||
107,740 | Ctrip.com International Ltd. – Sponsored ADR (Hotels, Resorts & Cruise Lines) (a) | 4,358 | ||||||
1,823 | E-Commerce China Dangdang, Inc., Class – A – Sponsored ADR (Internet Retail) (a) | 49 | ||||||
3,798,931 | Huabao International Holdings Ltd. (Specialty Chemicals) | 6,149 | ||||||
65,000 | Tencent Holdings Ltd. (Internet Software & Services) | 1,413 | ||||||
1,562 | Youku.com, Inc., Class – A – Sponsored ADR (Systems Software) (a) | 55 | ||||||
39,570 | ||||||||
Denmark — 0.10% |
| |||||||
66,345 | Danske Bank A/S (Diversified Banks) (a) | 1,701 | ||||||
France — 2.86% |
| |||||||
102,884 | BNP Paribas (Diversified Banks) | 6,545 | ||||||
93,947 | Compagnie de Saint-Gobain (Building Products) | 4,833 |
Shares | Security | Value (000) | ||||||
France (continued) | ||||||||
6,226 | LVMH Moet Hennessy Louis Vuitton SA (Apparel, Accessories & Luxury Goods) | $ | 1,024 | |||||
791,399 | Natixis (Diversified Banks) (a) | 3,701 | ||||||
136,743 | Pernod Ricard SA (Distillers & Vintners) | 12,855 | ||||||
51,766 | Publicis Groupe (Advertising) | 2,697 | ||||||
55,704 | Renault SA (Automobile Manufacturers) (a) | 3,237 | ||||||
42,768 | Unibail-Rodamco SE (Retail REITs) | 8,457 | ||||||
137,271 | Vinci SA (Construction & Engineering) | 7,461 | ||||||
50,810 | ||||||||
Germany — 3.22% |
| |||||||
15,861 | Adidas AG (Apparel, Accessories & Luxury Goods) | 1,045 | ||||||
66,874 | BASF SE (Diversified Chemicals) | 5,362 | ||||||
187,394 | Bayer AG (Pharmaceuticals) | 13,783 | ||||||
19,297 | Brenntag AG (Trading Companies & Distributors) (a)(b) | 1,959 | ||||||
187,179 | Daimler AG (Automobile Manufacturers) (a) | 12,734 | ||||||
62,891 | Linde AG (Industrial Gases) | 9,588 | ||||||
29,850 | Muenchener Rueckversicherungs-Gesellschaft AG (Reinsurance) | 4,522 | ||||||
46,090 | Rhoen-Klinikum AG (Health Care Facilities) | 1,010 | ||||||
57,337 | Siemens AG (Industrial Conglomerates) | 7,138 | ||||||
57,141 | ||||||||
Hong Kong — 5.07% |
| |||||||
3,008,600 | AIA Group Ltd. (Life & Health Insurance) (a)(b) | 8,458 | ||||||
1,015,477 | BOC Hong Kong (Holdings) Ltd. (Diversified Banks) | 3,456 | ||||||
402,900 | Cheung Kong (Holdings) Ltd. (Diversified Real Estate Activities) | 6,215 | ||||||
476,200 | Galaxy Entertainment Group Ltd. (Casinos & Gaming) (a) | 539 | ||||||
214,676 | Hang Seng Bank Ltd. (Diversified Banks) | 3,530 | ||||||
819,900 | Henderson Land Development Co. Ltd. (Diversified Real Estate Activities) | 5,591 | ||||||
256,200 | Hong Kong Exchanges & Clearing Ltd. (Specialized Finance) | 5,811 | ||||||
347,789 | HongKong Land Holdings Ltd. (Diversified Real Estate Activities) | 2,511 | ||||||
1,208,000 | Li & Fung Ltd. (Distributors) | 7,009 | ||||||
1,329,000 | New World Development Co. Ltd. (Diversified Real Estate Activities) | 2,496 |
See accompanying notes to financial statements
116
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Artisan Partners LP (continued) |
| |||||||
Hong Kong (continued) |
| |||||||
2,452,500 | NWS Holdings Ltd. (Industrial Conglomerates) | $ | 3,723 | |||||
8,151,283 | Sands China Ltd. (Casinos & Gaming) (a) | 17,912 | ||||||
3,212,500 | Sino Land Co. Ltd. (Diversified Real Estate Activities) | 6,010 | ||||||
420,800 | Sun Hung Kai Properties Ltd. (Diversified Real Estate Activities) | 6,989 | ||||||
267,800 | The Bank of East Asia Ltd. (Diversified Banks) | 1,121 | ||||||
3,884,300 | Wynn Macau Ltd. (Casinos & Gaming) | 8,696 | ||||||
90,067 | ||||||||
Italy — 0.30% |
| |||||||
1,945,466 | Intesa Sanpaolo (Diversified Banks) | 5,277 | ||||||
Japan — 1.43% |
| |||||||
64,300 | Canon, Inc. (Office Electronics) | 3,335 | ||||||
180,800 | Honda Motor Co. Ltd. (Automobile Manufacturers) | 7,161 | ||||||
528,600 | MITSUI & CO. Ltd. (Trading Companies & Distributors) | 8,733 | ||||||
177,100 | SOFTBANK Corp. (Wireless Telecommunication Services) | 6,133 | ||||||
25,362 | ||||||||
Netherlands — 1.68% |
| |||||||
91,063 | Akzo Nobel NV (Diversified Chemicals) | 5,656 | ||||||
350,810 | ASML Holding NV (Semiconductor Equipment) | 13,546 | ||||||
689,086 | ING Groep NV (Other Diversified Financial Services) (a) | 6,702 | ||||||
149,208 | TNT NV (Air Freight & Logistics) | 3,937 | ||||||
29,841 | ||||||||
Singapore — 0.51% |
| |||||||
191,100 | City Developments Ltd. (Diversified Real Estate Activities) | 1,871 | ||||||
1,989,382 | Genting Singapore PLC (Casinos & Gaming) (a) | 3,396 | ||||||
482,000 | Oversea-Chinese Banking Corp. Ltd. (Diversified Banks) | 3,711 | ||||||
8,978 | ||||||||
Spain — 0.63% |
| |||||||
260,514 | Amadeus IT Holding SA, A Shares (Data Processing & Outsourced Services) (a)(b) | 5,458 |
Shares | Security | Value (000) | ||||||
Spain (continued) |
| |||||||
76,553 | Industria de Diseno Textil SA (Apparel Retail) | $ | 5,731 | |||||
11,189 | ||||||||
Sweden — 0.28% |
| |||||||
256,772 | Sandvik AB (Industrial Machinery) | 5,009 | ||||||
Switzerland — 2.03% |
| |||||||
139,694 | Adecco SA (Human Resource & Employment Services) | 9,154 | ||||||
308,709 | Nestle SA (Packaged Foods & Meats) | 18,082 | ||||||
1,453 | Roche Holding AG (Pharmaceuticals) | 222 | ||||||
19,308 | The Swatch Group AG (Apparel, Accessories & Luxury Goods) | 8,610 | ||||||
36,068 | ||||||||
Turkey — 0.03% |
| |||||||
42,900 | Coca-Cola Icecek AS (Soft Drinks) | 568 | ||||||
United Kingdom — 3.61% |
| |||||||
934,869 | Experian PLC (Research and Consulting Services) | 11,630 | ||||||
282,140 | Imperial Tobacco Group PLC (Tobacco) | 8,656 | ||||||
2,442,488 | Kingfisher PLC (Home Improvement Retail) | 10,029 | ||||||
80,142 | Standard Chartered PLC (Diversified Banks) | 2,155 | ||||||
1,880,479 | Tesco PLC (Food Retail) | 12,459 | ||||||
1,077,626 | WPP PLC (Broadcasting) | 13,263 | ||||||
252,423 | Xstrata PLC (Diversified Metals & Mining) | 5,924 | ||||||
64,116 | ||||||||
United States — 0.12% |
| |||||||
45,373 | Accenture PLC, Class – A (IT Consulting & Other Services) | 2,200 | ||||||
Total Artisan Partners LP | 453,353 | |||||||
Capital Guardian Trust Co. — 38.72% |
| |||||||
Australia — 1.52% |
| |||||||
322,571 | Alumina Ltd. (Aluminum) | 818 | ||||||
139,379 | Brambles Ltd. (Diversified Support Services) | 1,015 | ||||||
303,371 | Coca-Cola Amatil Ltd. (Soft Drinks) | 3,369 | ||||||
155,309 | CSL Ltd. (Biotechnology) | 5,764 | ||||||
257,664 | Iluka Resources Ltd. (Diversified Metals & Mining) (a) | 2,408 | ||||||
101,632 | Newcrest Mining Ltd. (Gold) | 4,203 | ||||||
1,550,873 | Qantas Airways Ltd. (Airlines) (a) | 4,028 | ||||||
1,054,066 | Telstra Corp. Ltd. (Integrated Telecommunication Services) | 3,007 | ||||||
84,884 | Woolworths Ltd. (Food Retail) | 2,341 | ||||||
26,953 | ||||||||
See accompanying notes to financial statements
117
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Capital Guardian Trust Co. (continued) |
| |||||||
Austria — 0.28% |
| |||||||
41,627 | Andritz AG (Industrial Machinery) | $ | 3,826 | |||||
44,650 | Telekom Austria AG (Integrated Telecommunication Services) | 628 | ||||||
11,480 | Vienna Insurance Group Wiener Staedtische Versicherung AG (Multi-line Insurance) | 596 | ||||||
5,050 | ||||||||
Brazil — 0.44% |
| |||||||
34,000 | Banco Bradesco SA – ADR (Diversified Banks) | 690 | ||||||
183,700 | Hypermarcas SA (Personal Products) (a) | 2,494 | ||||||
7,800 | Petroleo Brasileiro SA – ADR (Integrated Oil & Gas) | 295 | ||||||
24,100 | Petroleo Brasileiro SA – Sponsored ADR (Integrated Oil & Gas) | 824 | ||||||
119,200 | Vale SA – Sponsored ADR (Steel) | 3,602 | ||||||
7,905 | ||||||||
Canada — 2.85% |
| |||||||
223,300 | Barrick Gold Corp. (Gold) | 11,875 | ||||||
39,700 | BCE, Inc. (Integrated Telecommunication Services) | 1,411 | ||||||
224,000 | Cameco Corp. (Coal & Consumable Fuels) | 9,082 | ||||||
35,400 | Canadian Natural Resources Ltd. (Oil & Gas Exploration & Production) | 1,580 | ||||||
117,000 | Cenovus Energy, Inc. (Integrated Oil & Gas) | 3,917 | ||||||
299,500 | Centerra Gold, Inc. (Gold) (b) | 5,978 | ||||||
9,800 | First Quantum Minerals Ltd. (Diversified Metals & Mining) | 1,065 | ||||||
73,000 | Inmet Mining Corp. (Diversified Metals & Mining) | 5,674 | ||||||
46,300 | Intact Financial Corp. (Property & Casualty Insurance) | 2,369 | ||||||
81,600 | Ivanhoe Mines Ltd. (Diversified Metals & Mining) (a) | 1,888 | ||||||
24,600 | Onex Corp. (Multi-Sector Holdings) | 748 | ||||||
5,200 | Potash Corp. of Saskatchewan, Inc. (Fertilizers & Agricultural Chemicals) | 808 | ||||||
94,900 | Telus Corp. (Integrated Telecommunication Services) | 4,129 | ||||||
50,524 | ||||||||
China — 0.57% |
| |||||||
1,337,000 | Agricultural Bank of China Ltd., H Shares (Diversified Banks) (a) | 671 |
Shares | Security | Value (000) | ||||||
China (continued) | ||||||||
4,587,335 | Bank of China Ltd., H Shares (Diversified Banks) | $ | 2,420 | |||||
777,000 | China Railway Construction Corp. Ltd., H Shares (Construction & Engineering) | 936 | ||||||
361,500 | China Shenhua Energy Co. Ltd., H Shares (Coal & Consumable Fuels) | 1,516 | ||||||
2,777,952 | Industrial and Commercial Bank of China Ltd., H Shares (Diversified Banks) | 2,069 | ||||||
56,400 | Jardine Matheson Holdings Ltd. (Industrial Conglomerates) | 2,481 | ||||||
10,093 | ||||||||
Denmark — 0.48% |
| |||||||
58,712 | Novo Nordisk A/S, Class – B (Pharmaceuticals) | 6,622 | ||||||
211,000 | TDC A/S (Integrated Telecommunication Services) (a)(b) | 1,833 | ||||||
8,455 | ||||||||
Finland — 0.33% |
| |||||||
221,354 | Sampo Oyj, A Shares (Multi-line Insurance) | 5,930 | ||||||
France — 3.37% |
| |||||||
19,340 | Air Liquide SA (Industrial Gases) | 2,446 | ||||||
52,717 | AXA SA (Multi-line Insurance) | 877 | ||||||
154,647 | BNP Paribas (Diversified Banks) (b) | 9,837 | ||||||
116,015 | Bouygues SA (Construction & Engineering) | 5,000 | ||||||
23,042 | Compagnie Generale des Etablissements Michelin, Class – B (Tires & Rubber) (b) | 1,653 | ||||||
187,589 | Danone SA (Packaged Foods & Meats) | 11,785 | ||||||
71,895 | GDF Suez (Multi-Utilities) | 2,579 | ||||||
51,885 | JC Decaux SA (Advertising) (a) | 1,596 | ||||||
19,263 | L’Oreal SA (Personal Products) | 2,138 | ||||||
9,785 | LVMH Moet Hennessy Louis Vuitton SA (Apparel, Accessories & Luxury Goods) | 1,609 | ||||||
144,396 | Pernod Ricard SA (Distillers & Vintners) | 13,574 | ||||||
45,100 | Societe Generale (Diversified Banks) | 2,424 | ||||||
57,033 | Total SA (Integrated Oil & Gas) | 3,022 | ||||||
45,699 | Veolia Environnement (Multi-Utilities) | 1,335 | ||||||
59,875 | ||||||||
Germany — 3.06% |
| |||||||
9,512 | Allianz SE (Multi-line Insurance) | 1,131 | ||||||
93,490 | Bayer AG (Pharmaceuticals) | 6,876 |
See accompanying notes to financial statements
118
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Capital Guardian Trust Co. (continued) |
| |||||||
Germany (continued) |
| |||||||
17,228 | Bayerische Motoren Werke AG (Automobile Manufacturers) | $ | 1,351 | |||||
20,700 | Brenntag AG (Trading Companies & Distributors) (a)(b) | 2,102 | ||||||
166,387 | Daimler AG (Automobile Manufacturers) (a) | 11,320 | ||||||
35,062 | Deutsche Bank AG (Diversified Capital Markets) | 1,830 | ||||||
54,042 | HeidelbergCement AG (Construction Materials) | 3,377 | ||||||
18,120 | K+S AG (Fertilizers & Agricultural Chemicals) (b) | 1,370 | ||||||
7,569 | Linde AG (Industrial Gases) | 1,154 | ||||||
11,034 | Metro AG (Hypermarkets & Super Centers) | 795 | ||||||
15,328 | Muenchener Rueckversicherungs-Gesellschaft AG (Reinsurance) | 2,322 | ||||||
211,319 | SAP AG (Application Software) | 10,708 | ||||||
80,076 | Siemens AG (Industrial Conglomerates) | 9,968 | ||||||
54,304 | ||||||||
Hong Kong — 1.88% |
| |||||||
2,406,400 | AIA Group Ltd. (Life & Health Insurance) (a)(b) | 6,765 | ||||||
251,500 | BOC Hong Kong (Holdings) Ltd. (Diversified Banks) | 856 | ||||||
2,780,500 | Hong Kong & China Gas Co. Ltd. (Gas Utilities) | 6,553 | ||||||
658,000 | Li & Fung Ltd. (Distributors) | 3,818 | ||||||
78,000 | Sun Hung Kai Properties Ltd. (Diversified Real Estate Activities) | 1,295 | ||||||
160,000 | Swire Pacific Ltd., Class – A (Diversified Real Estate Activities) | 2,631 | ||||||
412,000 | The Bank of East Asia Ltd. (Diversified Banks) | 1,725 | ||||||
676,500 | The Link REIT (Retail REITs) | 2,102 | ||||||
703,000 | The Wharf (Holdings) Ltd. (Diversified Real Estate Activities) | 5,409 | ||||||
626,000 | Tingyi (Cayman Islands) Holding Corp. (Packaged Foods & Meats) | 1,603 | ||||||
40,500 | Wing Hang Bank Ltd. (Diversified Banks) | 560 | ||||||
33,317 | ||||||||
India — 0.25% |
| |||||||
5,600 | HDFC Bank Ltd. – Sponsored ADR (Diversified Banks) | 936 | ||||||
28,300 | ICICI Bank Ltd. – Sponsored ADR (Diversified Banks) | 1,433 |
Shares | Security | Value (000) | ||||||
India (continued) |
| |||||||
42,800 | Reliance Industries Ltd. – Sponsored GDR (Oil & Gas Refining & Marketing) | $ | 2,027 | |||||
4,396 | ||||||||
Ireland — 0.37% | ||||||||
317,565 | CRH PLC (Construction Materials) | 6,577 | ||||||
Israel — 0.14% | ||||||||
145,595 | Israel Chemicals Ltd. (Fertilizers & Agricultural Chemicals) | 2,498 | ||||||
Japan — 7.11% |
| |||||||
490,000 | Aozora Bank Ltd. (Diversified Banks) | 1,014 | ||||||
93,700 | Canon, Inc. (Office Electronics) | 4,860 | ||||||
191,100 | Denso Corp. (Auto Parts & Equipment) | 6,597 | ||||||
27,700 | Fanuc Ltd. (Industrial Machinery) | 4,256 | ||||||
38,400 | IBIDEN Co. Ltd. (Electronic Components) | 1,212 | ||||||
220,000 | ISUZU MOTORS Ltd. (Automobile Manufacturers) | 1,000 | ||||||
87,000 | JGC Corp. (Construction & Engineering) | 1,894 | ||||||
181,000 | Kawasaki Kisen Kaisha Ltd. (Marine) | 796 | ||||||
31,700 | Keyence Corp. (Electronic Equipment & Instruments) | 9,186 | ||||||
158,600 | Kurita Water Industries Ltd. (Industrial Machinery) | 4,998 | ||||||
830,000 | Mazda Motor Corp. (Automobile Manufacturers) | 2,383 | ||||||
54,400 | Mitsubishi Corp. (Trading Companies & Distributors) | 1,473 | ||||||
191,500 | Mitsubishi UFJ Financial Group, Inc. (Diversified Banks) | 1,036 | ||||||
205,000 | Mitsui Fudosan Co. Ltd. (Diversified Real Estate Activities) | 4,089 | ||||||
683,000 | Mitsui O.S.K. Lines Ltd. (Marine) | 4,662 | ||||||
168,500 | Murata Manufacturing Co. Ltd. (Electronic Components) | 11,812 | ||||||
27,700 | Nintendo Co. Ltd. (Home Entertainment Software) | 8,132 | ||||||
494 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 863 | ||||||
70,400 | Oracle Corp. Japan (Systems Software) | 3,461 | ||||||
11,000 | SHIMAMURA Co. Ltd. (Apparel Retail) | 1,020 | ||||||
23,600 | SMC Corp. (Industrial Machinery) | 4,044 | ||||||
535,400 | SOFTBANK Corp. (Wireless Telecommunication Services) | 18,541 | ||||||
27,100 | Sony Corp. (Electronic Equipment & Instruments) | 977 | ||||||
504,000 | Sumitomo Chemical Co. Ltd. (Diversified Chemicals) | 2,484 |
See accompanying notes to financial statements
119
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Capital Guardian Trust Co. (continued) |
| |||||||
Japan (continued) |
| |||||||
280,700 | Sumitomo Corp. (Trading Companies & Distributors) | $ | 3,973 | |||||
80,200 | Suzuki Motor Corp. (Automobile Manufacturers) | 1,976 | ||||||
73,000 | Sysmex Corp. (Health Care Equipment) | 5,063 | ||||||
22,700 | TDK Corp. (Electronic Components) | 1,580 | ||||||
43,200 | Tokio Marine Holdings, Inc. (Property & Casualty Insurance) | 1,292 | ||||||
32,300 | Tokyo Electron Ltd. (Semiconductor Equipment) | 2,045 | ||||||
225,400 | Trend Micro, Inc. (Systems Software) | 7,445 | ||||||
5,494 | Yahoo Japan Corp. (Internet Software & Services) | 2,132 | ||||||
126,296 | ||||||||
Jersey — 0.24% |
| |||||||
173,955 | Shire PLC (Pharmaceuticals) | 4,184 | ||||||
Luxembourg — 0.35% |
| |||||||
55,632 | SES – FDR (Cable & Satellite) | 1,367 | ||||||
200,980 | SES – FDR, Class – A (Cable & Satellite) | 4,784 | ||||||
6,151 | ||||||||
Malaysia — 0.06% |
| |||||||
410,000 | CIMB Group Holdings Berhad (Diversified Banks) | 1,131 | ||||||
Mexico — 0.34% |
| |||||||
104,200 | America Movil SAB de CV, Series L – Sponsored ADR (Wireless Telecommunication Services) | 5,975 | ||||||
Netherlands — 1.72% |
| |||||||
265,247 | ASML Holding NV (Semiconductor Equipment) | 10,242 | ||||||
42,772 | ASML Holding NV – NYS (Semiconductor Equipment) | 1,640 | ||||||
29,000 | European Aeronautic Defence and Space Co. NV (Aerospace & Defense) (a) | 676 | ||||||
28,400 | Koninklijke DSM NV (Diversified Chemicals) | 1,617 | ||||||
785,802 | Koninklijke KPN NV (Integrated Telecommunication Services) | 11,465 | ||||||
225,380 | Wolters Kluwer NV (Publishing) | 4,938 | ||||||
30,578 | ||||||||
Norway — 0.47% |
| |||||||
246,677 | Seadrill Ltd. (Oil & Gas Drilling) | 8,342 | ||||||
Papua New Guinea — 0.21% |
| |||||||
527,027 | Oil Search Ltd. (Oil & Gas Exploration & Production) (b) | 3,794 | ||||||
Shares | Security | Value (000) | ||||||
Poland — 0.11% |
| |||||||
10,300 | Powszechny Zaklad Ubezpieczen SA (Multi-line Insurance) (b) | $ | 1,238 | |||||
141,200 | Telekomunikacja Polska SA (Integrated Telecommunication Services) | 780 | ||||||
2,018 | ||||||||
Russia — 0.35% |
| |||||||
245,922 | Gazprom - Sponsored ADR (Integrated Oil & Gas) | 6,256 | ||||||
Singapore — 0.31% |
| |||||||
379,596 | DBS Group Holdings Ltd. (Diversified Banks) | 4,237 | ||||||
304,000 | Olam International Ltd. (Food Distributors) | 744 | ||||||
125,000 | Wilmar International Ltd. (Industrial Conglomerates) | 548 | ||||||
5,529 | ||||||||
South Africa — 0.05% |
| |||||||
27,500 | Impala Platinum Holdings Ltd. (Precious Metals & Minerals) | 974 | ||||||
South Korea — 1.18% |
| |||||||
73,900 | Hynix Semiconductor, Inc. (Semiconductors) (a) | 1,563 | ||||||
8,800 | Hyundai Mobis (Auto Parts & Equipment) (a) | 2,206 | ||||||
13,060 | LG Chem Ltd. (Commodity Chemicals) (a) | 4,500 | ||||||
15,210 | Samsung Electronics Co. Ltd. (Semiconductors) | 12,721 | ||||||
20,990 | ||||||||
Spain — 0.24% |
| |||||||
20,532 | Industria de Diseno Textil SA (Apparel Retail) | 1,537 | ||||||
95,300 | Repsol YPF SA (Integrated Oil & Gas) | 2,655 | ||||||
4,192 | ||||||||
Sweden — 0.52% |
| |||||||
128,650 | Assa Abloy AB, Class – B (Building Products) | 3,627 | ||||||
52,612 | Hennes & Mauritz AB, B Shares (Apparel Retail) | 1,754 | ||||||
148,472 | Svenska Cellulosa AB, B Shares (Paper Products) | 2,346 | ||||||
46,400 | Svenska Handelsbanken AB, A Shares (Diversified Banks) | 1,484 | ||||||
9,211 | ||||||||
See accompanying notes to financial statements
120
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Capital Guardian Trust Co. (continued) |
| |||||||
Switzerland — 3.38% |
| |||||||
28,175 | Compagnie Financiere Richemont SA, Class – A (Apparel, Accessories & Luxury Goods) | $ | 1,658 | |||||
24,493 | Credit Suisse Group AG (Diversified Capital Markets) | 987 | ||||||
86,295 | Holcim Ltd. – Registered (Construction Materials) (b) | 6,523 | ||||||
76,652 | Nestle SA (Packaged Foods & Meats) | 4,490 | ||||||
114,532 | Novartis AG – Registered (Pharmaceuticals) | 6,733 | ||||||
97,162 | Roche Holding AG – Genusscheine (Pharmaceuticals) | 14,241 | ||||||
12,988 | Swisscom AG – Registered (Integrated Telecommunication Services) | 5,712 | ||||||
17,660 | Syngenta AG – Registered (Fertilizers & Agricultural Chemicals) | 5,167 | ||||||
12,536 | Synthes, Inc. (Health Care Equipment) | 1,694 | ||||||
27,000 | Transocean Ltd. (Oil & Gas Drilling) (a) | 1,850 | ||||||
663,881 | UBS AG – Registered (Diversified Capital Markets) (a)(b) | 10,903 | ||||||
59,958 | ||||||||
United Kingdom — 6.54% |
| |||||||
88,478 | Anglo American PLC (Diversified Metals & Mining) | 4,601 | ||||||
411,462 | ARM Holdings PLC (Semiconductors) | 2,715 | ||||||
17,645 | AstraZeneca PLC (Pharmaceuticals) | 804 | ||||||
85,000 | Autonomy Corp. PLC (Application Software) (a) | 1,994 | ||||||
1,638,321 | Barclays PLC (Diversified Banks) | 6,682 | ||||||
465,794 | BG Group PLC (Integrated Oil & Gas) | 9,411 | ||||||
183,291 | BHP Billiton PLC (Diversified Metals & Mining) | 7,289 | ||||||
1,181,800 | Cable & Wireless Worldwide PLC (Alternative Carriers) | 1,210 | ||||||
766,100 | Cairn Energy PLC (Oil & Gas Exploration & Production) (a) | 5,016 | ||||||
177,700 | Diageo PLC (Distillers & Vintners) | 3,283 | ||||||
1,700,000 | Dixons Retail PLC (Computer & Electronics Retail) (a) | 607 | ||||||
1,329,800 | GKN PLC (Auto Parts & Equipment) | 4,606 | ||||||
1,142,386 | HSBC Holdings PLC (Diversified Banks) | 11,595 | ||||||
123,200 | HSBC Holdings PLC (Diversified Banks) | 1,263 |
Shares | Security | Value (000) | ||||||
United Kingdom (continued) | ||||||||
287,965 | Imperial Tobacco Group PLC (Tobacco) | $ | 8,835 | |||||
6,496,200 | Lloyds Banking Group PLC (Diversified Banks) (a) | 6,653 | ||||||
192,500 | National Grid PLC (Multi-Utilities) | 1,660 | ||||||
187,400 | Premier Farnell PLC (Technology Distributors) | 838 | ||||||
337,561 | Prudential PLC (Life & Health Insurance) | 3,515 | ||||||
113,633 | Rio Tinto PLC (Diversified Metals & Mining) | 7,948 | ||||||
54,000 | Rotork PLC (Industrial Machinery) | 1,539 | ||||||
232,368 | Royal Dutch Shell PLC, A Shares (Integrated Oil & Gas) | 7,678 | ||||||
9,100 | Shire PLC – Sponsored ADR (Pharmaceuticals) | 659 | ||||||
73,699 | Standard Chartered PLC (Diversified Banks) | 1,982 | ||||||
29,898 | Standard Chartered PLC (Diversified Banks) | 815 | ||||||
1,483,311 | Tesco PLC (Food Retail) | 9,827 | ||||||
261,700 | Vodafone Group PLC (Wireless Telecommunication Services) | 676 | ||||||
101,866 | Xstrata PLC (Diversified Metals & Mining) | 2,391 | ||||||
116,092 | ||||||||
Total Capital Guardian Trust Co. | 687,548 | |||||||
Causeway Capital Management LLC — 33.01% |
| |||||||
Canada — 0.12% |
| |||||||
227,000 | Precision Drilling Corp. (Oil & Gas Drilling) (a) | 2,192 | ||||||
China — 0.62% |
| |||||||
3,078,000 | Yue Yuen Industrial (Holdings) Ltd. (Footwear) | 11,068 | ||||||
France — 3.32% |
| |||||||
551,419 | AXA SA (Multi-line Insurance) | 9,172 | ||||||
143,757 | BNP Paribas (Diversified Banks) | 9,145 | ||||||
242,145 | Sanofi-Aventis (Pharmaceuticals) | 15,481 | ||||||
109,244 | Technip SA (Oil & Gas Equipment & Services) | 10,086 | ||||||
277,062 | Vinci SA (Construction & Engineering) | 15,059 | ||||||
58,943 | ||||||||
Germany — 3.87% |
| |||||||
97,926 | Bayer AG (Pharmaceuticals) | 7,203 | ||||||
657,603 | Deutsche Post AG (Air Freight & Logistics) | 11,106 | ||||||
241,042 | E.ON AG (Electric Utilities) | 7,364 | ||||||
100,189 | Linde AG (Industrial Gases) | 15,274 |
See accompanying notes to financial statements
121
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Causeway Capital Management LLC (continued) |
| |||||||
Germany (continued) |
| |||||||
68,471 | Muenchener Rueckversicherungs-Gesellschaft AG (Reinsurance) | $ | 10,373 | |||||
139,717 | Siemens AG (Industrial Conglomerates) | 17,392 | ||||||
68,712 | ||||||||
Greece — 0.44% |
| |||||||
451,973 | OPAP SA (Casinos & Gaming) | 7,814 | ||||||
Italy — 0.92% |
| |||||||
1,396,640 | Snam Rete Gas SpA (Gas Utilities) | 6,942 | ||||||
4,553,755 | UniCredit SpA (Diversified Banks) | 9,418 | ||||||
16,360 | ||||||||
Japan — 7.08% |
| |||||||
71,600 | Fanuc Ltd. (Industrial Machinery) | 11,000 | ||||||
4,020,000 | Haseko Corp. (Homebuilding) (a) | 3,566 | ||||||
278,000 | Honda Motor Co. Ltd. (Automobile Manufacturers) | 11,011 | ||||||
505,000 | JGC Corp. (Construction & Engineering) | 10,993 | ||||||
1,558 | KDDI Corp. (Wireless Telecommunication Services) | 9,002 | ||||||
1,830,200 | Mitsubishi UFJ Financial Group, Inc. (Diversified Banks) | 9,899 | ||||||
184,300 | Sankyo Co. Ltd. (Leisure Products) | 10,411 | ||||||
281,700 | Shin-Etsu Chemical Co. Ltd. (Specialty Chemicals) | 15,270 | ||||||
45,000 | SMC Corp. (Industrial Machinery) | 7,712 | ||||||
3,960 | Sony Financial Holdings, Inc. (Life & Health Insurance) | 16,026 | ||||||
126,000 | Tokyo Electron Ltd. (Semiconductor Equipment) | 7,979 | ||||||
323,000 | Toyota Motor Corp. (Automobile Manufacturers) | 12,813 | ||||||
125,682 | ||||||||
Netherlands — 3.73% |
| |||||||
291,130 | Akzo Nobel NV (Diversified Chemicals) | 18,082 | ||||||
500,333 | European Aeronautic Defence and Space Co. (Aerospace & Defense) (a) | 11,658 | ||||||
146,992 | Gemalto NV (Computer Storage & Peripherals) | 6,254 | ||||||
1,251,768 | Reed Elsevier NV (Publishing) | 15,482 | ||||||
561,201 | TNT NV (Air Freight & Logistics) | 14,809 | ||||||
66,285 | ||||||||
Norway — 0.65% |
| |||||||
682,393 | Aker Solutions ASA (Oil & Gas Equipment & Services) | 11,614 | ||||||
Shares | Security | Value (000) | ||||||
Singapore — 0.43% |
| |||||||
643,000 | Singapore Airlines Ltd. (Airlines) | $ | 7,668 | |||||
South Korea — 1.25% |
| |||||||
33,390 | Hyundai Heavy Industries Co. Ltd. (Construction & Farm Machinery & Heavy Trucks) (a) | 13,036 | ||||||
160,378 | KT&G Corp. (Tobacco) (a) | 9,145 | ||||||
22,181 | ||||||||
Spain — 1.08% |
| |||||||
630,407 | Banco Santander SA (Diversified Banks) | 6,677 | ||||||
623,634 | Enagas (Gas Utilities) | 12,428 | ||||||
19,105 | ||||||||
Sweden — 0.54% |
| |||||||
1,144,103 | Skandinaviska Enskilda Banken AB, Class – A (Diversified Banks) | 9,550 | ||||||
Switzerland — 3.75% |
| |||||||
109,434 | Compagnie Financiere Richemont SA, Class – A (Apparel, Accessories & Luxury Goods) | 6,439 | ||||||
9,843 | Givaudan SA – Registered (Specialty Chemicals) | 10,626 | ||||||
190,936 | Novartis AG – Registered (Pharmaceuticals) | 11,225 | ||||||
75,150 | Roche Holding AG – Genusscheine (Pharmaceuticals) | 11,015 | ||||||
66,193 | Transocean Ltd. (Oil & Gas Drilling) (a) | 4,536 | ||||||
742,232 | UBS AG – Registered (Diversified Capital Markets) (a) | 12,189 | ||||||
40,515 | Zurich Financial Services AG (Multi-line Insurance) | 10,498 | ||||||
66,528 | ||||||||
United Kingdom — 5.21% |
| |||||||
1,695,752 | Aviva PLC (Multi-line Insurance) | 10,389 | ||||||
406,837 | Balfour Beatty PLC (Construction & Engineering) | 1,985 | ||||||
264,210 | British American Tobacco PLC (Tobacco) | 10,147 | ||||||
181,925 | Eurasian Natural Resource Corp. (Diversified Metals & Mining) | 2,972 | ||||||
1,048,400 | HSBC Holdings PLC (Diversified Banks) | 10,750 | ||||||
934,466 | Michael Page International PLC (Human Resource & Employment Services) | 8,085 | ||||||
1,685,817 | Rexam PLC (Metal & Glass Containers) | 8,743 | ||||||
172,725 | Rio Tinto PLC (Diversified Metals & Mining) | 12,080 |
See accompanying notes to financial statements
122
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Shares or | Security | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Causeway Capital Management LLC (continued) |
| |||||||
United Kingdom (continued) |
| |||||||
1,514,089 | Rolls-Royce Group PLC (Aerospace & Defense) | $ | 14,705 | |||||
4,886,277 | Vodafone Group PLC (Wireless Telecommunication Services) | 12,629 | ||||||
92,485 | ||||||||
Total Causeway Capital Management LLC | 586,187 | |||||||
Total Common Stocks | 1,727,088 | |||||||
Time Deposits — 2.66% |
| |||||||
Artisan Partners LP — 0.73% |
| |||||||
$ | 13,007 | State Street Liquidity Management Control System Time Deposit, 0.01%, 1/3/11 | 13,007 | |||||
Capital Guardian Trust Co. — 1.10% |
| |||||||
19,571 | State Street Liquidity Management Control System Time Deposit, 0.01%, 1/3/11 | 19,571 | ||||||
Causeway Capital Management LLC — 0.83% |
| |||||||
14,772 | State Street Liquidity Management Control System Time Deposit, 0.01%, 1/3/11 | 14,772 | ||||||
Total Time Deposits | 47,350 | |||||||
Shares | Security | Value (000) | ||||||
Rights — 0.01% |
| |||||||
Capital Guardian Trust Co. — 0.01% |
| |||||||
81,600 | Ivanhoe Mines Ltd., (Diversified Metals & Mining) | $ | 110 | |||||
Total Rights | 110 | |||||||
Total Investments | 1,774,548 | |||||||
Other assets in excess of | 1,242 | |||||||
Net Assets — 100.00% | $ | 1,775,790 | ||||||
(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. |
ADR — American Depositary Receipt
FDR — Fiduciary Depositary Receipt
GDR — Global Depositary Receipt
NYS — New York Shares
REITs — Real Estate Investment Trusts
Currency Contracts
Capital Guardian Trust Co.
Contract | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/10 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
Currencies Sold | ||||||||||||||||||||||
12,275,449 | Euro | Bank of New York | 1/24/11 | $ | 16,154 | $ | 16,400 | $ | (246 | ) | ||||||||||||
Total Currencies Sold | $ | 16,154 | $ | 16,400 | $ | (246 | ) | |||||||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | (246 | ) | |||||||||||||||||||
See accompanying notes to financial statements
123
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks — 92.28% |
| |||||||
Boston Company Asset |
| |||||||
Brazil — 1.86% |
| |||||||
45,890 | Banco Santander Brasil SA – Sponsored ADR (Diversified Banks) | $ | 624 | |||||
4,090 | Brasil Telecom SA – ADR (Integrated Telecommunication Services) | 90 | ||||||
14,600 | Centrais Eletricas Brasileiras SA (Electric Utilities) | 196 | ||||||
47,300 | Cielo SA (Data Processing & Outsourced Services) | 383 | ||||||
26,200 | Companhia de Saneamento de Minas Gerais – Copasa MG (Water Utilities) | 453 | ||||||
32,000 | Companhia de Tecidos Norte de Minas (Textiles) | 104 | ||||||
31,650 | Companhia Energetica de Minas Gerais – Preferred (Electric Utilities) | 509 | ||||||
3,295 | Embraer SA – ADR (Aerospace & Defense) | 97 | ||||||
10,300 | Fibria Celulose SA – Sponsored ADR (Paper Products) (a) | 165 | ||||||
5,100 | Gerdau SA – Preferred (Steel) | 70 | ||||||
26,490 | Gerdau SA – Sponsored ADR (Steel) | 371 | ||||||
37,300 | Grendene SA (Footwear) | 209 | ||||||
30,900 | Itau Unibanco Holding SA (Diversified Banks) | 741 | ||||||
3,720 | Itau Unibanco Holding SA – Sponsored ADR (Diversified Banks) | 89 | ||||||
111,400 | JBS SA (Packaged Foods & Meats) | 481 | ||||||
20,400 | Light SA (Electric Utilities) | 313 | ||||||
19,300 | Petroleo Brasileiro SA – Sponsored ADR (Integrated Oil & Gas) | 659 | ||||||
47,390 | Petroleo Brasileiro SA – Sponsored ADR (Integrated Oil & Gas) | 1,793 | ||||||
10,060 | Porto Seguro SA (Multi-line Insurance) | 172 | ||||||
40,600 | Redecard SA (Data Processing & Outsourced Services) | 515 | ||||||
24,290 | Tele Norte Leste Participacoes SA – Sponsored ADR (Integrated Telecommunication Services) | 357 | ||||||
23,090 | Vale SA – Sponsored ADR (Steel) | 798 | ||||||
9,189 | ||||||||
China — 1.74% |
| |||||||
506,500 | Asia Cement China Holdings Corp. (Construction Materials) | 248 | ||||||
876,000 | Beijing Capital International Airport Co. Ltd., H Shares (Airport Services) | 468 | ||||||
697,000 | BYD Electronic International Co. Ltd. (Communications Equipment) (a) | 368 | ||||||
165,000 | China Coal Energy Co. Ltd., H Shares (Coal & Consumable Fuels) | 258 |
Shares | Security | Value (000) | ||||||
China (continued) | ||||||||
300,000 | China Communication Services Corp. Ltd., | $ | 179 | |||||
499,690 | China Construction Bank Corp., H Shares (Diversified Banks) | 448 | ||||||
1,450 | China Mobile Ltd. – Sponsored ADR (Wireless Telecommunication Services) | 72 | ||||||
32,800 | China Pacific Insurance Group Co. Ltd., | 136 | ||||||
1,870 | China Petroleum & Chemical Corp. – Sponsored ADR (Integrated Oil & Gas) | 179 | ||||||
246,000 | China Petroleum & Chemical Corp., H Shares (Integrated Oil & Gas) | 235 | ||||||
1,428,000 | China Power International Development Ltd. (Independent Power Producers & Energy Traders) | 292 | ||||||
181,500 | China Railway Construction Corp. Ltd., | 219 | ||||||
529,000 | China Railway Group Ltd., H Shares (Construction & Engineering) | 382 | ||||||
68,500 | China Shenhua Energy Co. Ltd., H Shares (Coal & Consumable Fuels) | 287 | ||||||
58,000 | Cosco Pacific Ltd. (Marine Ports & Services) | 101 | ||||||
1,875,200 | Global Bio-Chem Technology Group Co. Ltd. (Agricultural Products) (a) | 285 | ||||||
203,324 | Guangzhou Automobile Group Co. Ltd., | 280 | ||||||
3,550 | Huaneng Power International, Inc. – Sponsored ADR (Electric Utilities) | 76 | ||||||
586,000 | Huaneng Power International, Inc., H Shares (Independent Power Producers & Energy Traders) | 310 | ||||||
1,495,440 | Industrial and Commercial Bank of China Ltd., H Shares (Diversified Banks) | 1,114 | ||||||
294,000 | Lumena Resources Corp. (Specialty Chemicals) | 106 | ||||||
276,000 | Maanshan Iron & Steel Co. Ltd., H Shares (Steel) | 147 | ||||||
1,150 | PetroChina Co. Ltd. – Sponsored ADR (Integrated Oil & Gas) | 151 | ||||||
730,000 | PetroChina Co. Ltd., H Shares (Integrated Oil & Gas) | 954 | ||||||
3,214,000 | Renhe Commercial Holdings (Real Estate Operating Companies) | 562 | ||||||
1,031,000 | Sinotrans Ltd., H Shares (Air Freight & Logistics) | 283 |
See accompanying notes to financial statements
124
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Boston Company Asset |
| |||||||
China (continued) |
| |||||||
168,000 | TPV Technology Ltd. (Computer Storage & Peripherals) | $ | 107 | |||||
343,000 | Weiqiao Textile Co. Ltd., H Shares (Textiles) | 346 | ||||||
8,593 | ||||||||
Hong Kong — 0.35% |
| |||||||
829,000 | China Dongxiang Group Co. (Apparel, Accessories & Luxury Goods) | 358 | ||||||
103,500 | China Mobile Ltd. (Wireless Telecommunication Services) | 1,028 | ||||||
16,000 | Ju Teng International Holdings Ltd. (Electronic Manufacturing Services) (a) | 8 | ||||||
230,922 | NWS Holdings Ltd. (Industrial Conglomerates) | 351 | ||||||
1,745 | ||||||||
Hungary — 0.04% |
| |||||||
1,892 | MOL Hungarian Oil and Gas (Integrated Oil & Gas) (a) | 189 | ||||||
India — 0.96% |
| |||||||
36,110 | Bank of India (Diversified Banks) | 365 | ||||||
89,630 | Bharti Airtel Ltd. (Wireless Telecommunication Services) | 719 | ||||||
24,200 | Glenmark Pharmaceuticals Ltd. (Pharmaceuticals) | 196 | ||||||
122,630 | India Cements Ltd. (Construction Materials) | 296 | ||||||
58,910 | India Cements Ltd. – Sponsored GDR (Construction Materials) (b)(d) | 285 | ||||||
82,940 | Mahanagar Telephone Nigam Ltd. – Sponsored ADR (Integrated Telecommunication Services) (a) | 201 | ||||||
50,540 | NMDC Ltd. (Diversified Metals & Mining) | 315 | ||||||
10,040 | Patni Computer Systems Ltd. (IT Consulting & Other Services) (a) | 107 | ||||||
24,310 | Reliance Industries Ltd. (Oil & Gas Refining & Marketing) | 576 | ||||||
11,080 | Reliance Industries Ltd. – Sponsored GDR (Oil & Gas Refining & Marketing) (b)(d) | 525 | ||||||
42,270 | Rolta India Ltd. (IT Consulting & Other Services) | 146 | ||||||
57,050 | Rolta India Ltd. – Sponsored GDR (IT Consulting & Other Services) (b)(d) | 197 | ||||||
4,780 | State Bank of India – Sponsored GDR (Diversified Banks) (b)(d) | 601 |
Shares | Security | Value (000) | ||||||
India (continued) |
| |||||||
3,820 | State Bank of India Ltd. (Diversified Banks) | $ | 240 | |||||
4,769 | ||||||||
Indonesia — 0.14% |
| |||||||
419,000 | PT Indosat Tbk (Wireless Telecommunication Services) | 251 | ||||||
157,000 | PT International Nickel Indonesia Tbk | 85 | ||||||
356,000 | PT Medco Energi Internasional Tbk (Oil & Gas Exploration & Production) | 133 | ||||||
253,500 | PT Telekomunikasi Indonesia Tbk (Integrated Telecommunication Services) | 224 | ||||||
693 | ||||||||
Israel — 0.02% |
| |||||||
1,720 | Teva Pharmaceutical Industries Ltd. – Sponsored ADR (Pharmaceuticals) | 90 | ||||||
Malaysia — 0.29% |
| |||||||
479,300 | Genting Malaysia Berhad (Casinos & Gaming) | 527 | ||||||
177,662 | Malayan Banking Berhad (Diversified Banks) | 490 | ||||||
95,000 | Petronas Chemicals Group Berhad (Commodity Chemicals) (a) | 170 | ||||||
43,200 | Sime Darby Berhad (Industrial Conglomerates) | 124 | ||||||
51,600 | Tenaga Nasional Berhad (Electric Utilities) | 140 | ||||||
1,451 | ||||||||
Mexico — 0.16% |
| |||||||
1,150 | America Movil SAB de CV, Series L – Sponsored ADR (Wireless Telecommunication Services) | 66 | ||||||
177,800 | Consorcio ARA SAB de CV (Homebuilding) | 109 | ||||||
9,390 | Desarrolladora Homex SA de CV – Sponsored ADR (Homebuilding) (a) | 318 | ||||||
65,400 | Grupo Continental SAB (Soft Drinks) | 186 | ||||||
15,600 | Grupo Simec SA de CV, Series B (Steel) (a) | 41 | ||||||
23,400 | Industrias CH SAB, Series B (Steel) (a) | 91 | ||||||
811 | ||||||||
Philippines — 0.05% |
| |||||||
172,138 | Bank of the Philippine Islands (Diversified Banks) | 232 | ||||||
Poland — 0.18% |
| |||||||
23,090 | Asseco Poland SA (Systems Software) | 414 | ||||||
2,715 | Bank Pekao SA (Diversified Banks) | 164 |
See accompanying notes to financial statements.
125
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HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Boston Company Asset |
| |||||||
Poland (continued) |
| |||||||
53,410 | Telekomunikacja Polska SA (Integrated Telecommunication Services) | $ | 295 | |||||
873 | ||||||||
Russia — 0.57% |
| |||||||
1,578 | Gazprom (Integrated Oil & Gas) | 40 | ||||||
63,420 | Gazprom – Sponsored ADR (Integrated Oil & Gas) | 1,613 | ||||||
9,580 | LUKOIL – Sponsored ADR (Integrated Oil & Gas) | 548 | ||||||
37,450 | Rosneft Oil Co. – Sponsored GDR (Integrated Oil & Gas) (a)(b)(d) | 255 | ||||||
23,740 | VimpelCom Ltd. – Sponsored ADR (Wireless Telecommunication Services) | 357 | ||||||
2,813 | ||||||||
South Africa — 1.12% |
| |||||||
6,166 | Anglo Platinum Ltd. (Precious Metals & Minerals) (a) | 651 | ||||||
1,390 | AngloGold Ashanti Ltd. – Sponsored ADR (Gold) | 68 | ||||||
19,885 | ArcelorMittal South Africa Ltd. (Steel) | 240 | ||||||
4,760 | Barloworld Ltd. (Industrial Conglomerates) | 49 | ||||||
45,950 | JD Group Ltd. (Home Improvement Retail) | 405 | ||||||
22,767 | MTN Group Ltd. (Wireless Telecommunication Services) | 465 | ||||||
100,170 | Murray & Roberts Holdings Ltd. (Construction & Engineering) | 612 | ||||||
22,390 | Nampak Ltd. (Metal & Glass Containers) | 78 | ||||||
25,020 | Nedbank Group Ltd. (Diversified Banks) | 496 | ||||||
54,390 | Sappi Ltd. (Paper Products) (a) | 281 | ||||||
13,412 | Sasol Ltd. (Integrated Oil & Gas) | 706 | ||||||
76,389 | Standard Bank Group Ltd. (Diversified Banks) | 1,249 | ||||||
42,950 | Telkom South Africa Ltd. (Integrated Telecommunication Services) | 248 | ||||||
5,548 | ||||||||
South Korea — 1.88% |
| |||||||
1,496 | CJ Cheiljedang Corp. (Packaged Foods & Meats) (a) | 286 | ||||||
2,410 | Hite Brewery Co. Ltd. (Brewers) (a) | 256 | ||||||
15,760 | Hyundai Development Co. (Construction & Engineering) (a) | 472 | ||||||
4,270 | Jinro Ltd. (Distillers & Vintners) (a) | 133 | ||||||
12,274 | KB Financial Group, Inc. (Diversified Banks) (a) | 649 |
Shares | Security | Value (000) | ||||||
South Korea (continued) |
| |||||||
5,290 | KB Financial Group, Inc. – Sponsored ADR (Diversified Banks) (a) | $ | 280 | |||||
13,370 | Korea Electric Power Corp. | 356 | ||||||
1,900 | Korea Electric Power Corp. – Sponsored ADR (Electric Utilities) (a) | 26 | ||||||
52,470 | Korea Exchange Bank (Diversified Banks) | 546 | ||||||
23,411 | Korean Reinsurance Co. (Reinsurance) | 243 | ||||||
3,040 | KT Corp. (Integrated Telecommunication Services) (a) | 124 | ||||||
4,500 | KT Corp. – Sponsored ADR (Integrated Telecommunication Services) (a) | 94 | ||||||
6,603 | KT&G Corp. (Tobacco) (a) | 376 | ||||||
3,981 | LG Electronics, Inc. (Consumer Electronics) (a) | 414 | ||||||
118 | Lotte Chilsung Beverage Co. Ltd. (Soft Drinks) (a) | 100 | ||||||
2,462 | Nong Shim Co. Ltd. (Packaged Foods & Meats) (a) | 441 | ||||||
1,436 | POSCO (Steel) | 616 | ||||||
860 | POSCO – Sponsored ADR (Steel) | 93 | ||||||
1,497 | Samsung Electronics Co. Ltd. (Semiconductors) | 1,252 | ||||||
2,297 | Samsung Fire & Marine Insurance Co. Ltd. (Property & Casualty Insurance) | 455 | ||||||
6,580 | Shinhan Financial Group Co. Ltd. (Diversified Banks) (a) | 307 | ||||||
519 | Shinsegae Co. Ltd. (Hypermarkets & Super Centers) (a) | 281 | ||||||
2,543 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 389 | ||||||
13,840 | SK Telecom Co. Ltd. – Sponsored ADR (Wireless Telecommunication Services) | 258 | ||||||
37,480 | Tong Yang Life Insurance Co. Ltd. (Life & Health Insurance) | 385 | ||||||
3,112 | Yuhan Corp. (Pharmaceuticals) (a) | 476 | ||||||
9,308 | ||||||||
Taiwan — 1.07% |
| |||||||
9,681 | Asustek Computer, Inc. – Sponsored GDR (Computer Hardware) (b)(d) | 460 | ||||||
80,200 | AU Optronics Corp. – Sponsored ADR (Electronic Components) (a) | 836 | ||||||
18,379 | First Financial Holding Co. Ltd. – Sponsored GDR (Diversified Banks) (b)(d) | 339 | ||||||
60,844 | Hon Hai Precision Industry Co. Ltd. – Sponsored GDR (Electronic Manufacturing Services) (b)(d) | 490 | ||||||
95,365 | Quanta Computer, Inc. – Sponsored GDR (Computer Hardware) (b)(d) | 1,001 | ||||||
38,390 | Siliconware Precision Industries Co. – Sponsored ADR (Semiconductors) | 228 |
See accompanying notes to financial statements
126
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Boston Company Asset |
| |||||||
Taiwan (continued) |
| |||||||
90,310 | Taiwan Semiconductor Manufacturing Co. Ltd. – Sponsored ADR (Semiconductors) | $ | 1,132 | |||||
258,570 | United Microelectronics Corp. – Sponsored ADR (Semiconductors) | 817 | ||||||
5,303 | ||||||||
Tanzania — 0.11% |
| |||||||
59,310 | African Barrick Gold Ltd. (Gold) | 565 | ||||||
Thailand — 0.23% |
| |||||||
77,200 | Bangkok Bank Public Co. Ltd. (Diversified Banks) | 391 | ||||||
97,400 | Kasikornbank Public Co. Ltd. (Diversified Banks) | 422 | ||||||
29,800 | PTT Public Co. Ltd. (Integrated Oil & Gas) | 316 | ||||||
1,129 | ||||||||
Turkey — 0.12% |
| |||||||
34,554 | Turkcell Iletisim Hizmetleri AS (Wireless Telecommunication Services) | 236 | ||||||
107,025 | Turkiye Is Bankasi AS, Class – C (Diversified Banks) | 382 | ||||||
618 | ||||||||
Ukraine — 0.03% |
| |||||||
29,880 | JKX Oil & Gas PLC (Oil & Gas Exploration & Production) | 147 | ||||||
Total Boston Company Asset Management, LLC | 54,066 | |||||||
SSgA Funds Management, Inc. — 81.36% |
| |||||||
Brazil — 12.60% | ||||||||
190,328 | Banco Bradesco SA – Sponsored ADR (Diversified Banks) | 3,862 | ||||||
167,913 | Banco do Brasil SA (Diversified Banks) | 3,179 | ||||||
146,300 | Banco do Estado do Rio Grande do Sul SA (Diversified Banks) | 1,556 | ||||||
173,300 | BR Malls Participacoes SA (Real Estate Services) | 1,786 | ||||||
120,400 | Braskem SA – Preferred, Class – A (Commodity Chemicals) (a) | 1,478 | ||||||
113,000 | Companhia de Bebidas das Americas – Sponsored ADR (Brewers) | 3,506 | ||||||
60,100 | Companhia Energetica de Minas Gerais SA – Sponsored ADR (Electric Utilities) | 997 | ||||||
28,000 | Companhia Paranaense de Energia-Copel – Sponsored ADR (Electric Utilities) | 705 | ||||||
47,300 | Gol Linhas Aereas Inteligentes SA – ADR (Airlines) | 727 |
Shares | Security | Value (000) | ||||||
Brazil (continued) |
| |||||||
169,000 | Itau Unibanco Holding SA (Diversified Banks) | $ | 4,052 | |||||
357,776 | Itausa – Investimentos Itau SA – Preferred (Diversified Banks) | 2,846 | ||||||
51,400 | Lojas Renner SA (Department Stores) | 1,747 | ||||||
214,000 | MRV Engenharia e Participacoes SA (Homebuilding) | 2,013 | ||||||
87,100 | Natura Cosmeticos SA (Personal Products) | 2,503 | ||||||
89,400 | OGX Petroleo e Gas Participacoes SA (Oil & Gas Exploration & Production) (a) | 1,077 | ||||||
440,500 | PDG Realty SA Empreendimentos e Participacoes (Diversified REITs) | 2,697 | ||||||
283,700 | Petroleo Brasileiro SA – Sponsored ADR (Integrated Oil & Gas) | 9,694 | ||||||
29,000 | Petroleo Brasileiro SA – Sponsored ADR (Integrated Oil & Gas) | 1,097 | ||||||
89,925 | Suzano Papel e Celulose SA (Paper Products) | 801 | ||||||
62,300 | Tractebel Energia SA (Independent Power Producers & Energy Traders) | 1,030 | ||||||
30,000 | Ultrapar Participacoes SA – Preferred (Oil & Gas Storage & Transportation) | 1,900 | ||||||
380,400 | Vale SA – Sponsored ADR (Steel) | 13,150 | ||||||
62,403 | ||||||||
Chile — 0.49% |
| |||||||
9,568 | Cap SA (Steel) (a) | 510 | ||||||
61,906 | Cencosud SA (Hypermarkets & Super Centers) (a) | 487 | ||||||
24,400 | Enersis SA – Sponsored ADR (Electric Utilities) | 567 | ||||||
13,200 | Lan Airlines SA – Sponsored ADR (Airlines) | 406 | ||||||
42,635 | S.A.C.I. Falabella (Department | 479 | ||||||
2,449 | ||||||||
China — 7.08% |
| |||||||
1,026,000 | Air China Ltd., H Shares (Airlines) (a) | 1,152 | ||||||
7,184,100 | Bank of China Ltd., H Shares (Diversified Banks) | 3,790 | ||||||
489,000 | BBMG Corp., H Shares (Construction Materials) | 663 | ||||||
94,500 | Beijing Enterprises Holdings Ltd. (Industrial Conglomerates) | 586 | ||||||
630,000 | Chaoda Modern Agriculture Holdings Ltd. (Agricultural Products) | 473 | ||||||
190,000 | China Bluechemical Ltd., H Shares (Fertilizers & Agricultural Chemicals) | 136 | ||||||
5,358,560 | China Construction Bank Corp., H Shares (Diversified Banks) | 4,805 |
See accompanying notes to financial statements
127
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
China (continued) |
| |||||||
2,349,000 | China Datang Corp. Renewable Power Co. Ltd., H Shares (Independent Power Producers & Energy Traders) (a) | $ | 644 | |||||
278,000 | China Life Insurance Co. Ltd., H Shares (Life & Health Insurance) | 1,136 | ||||||
349,500 | China Merchants Bank Co. Ltd., H Shares (Diversified Banks) | 882 | ||||||
1,656,000 | China Petroleum & Chemical Corp., H Shares (Integrated Oil & Gas) | 1,585 | ||||||
1,024,000 | China Telecom Corp. Ltd., H Shares (Integrated Telecommunication Services) | 536 | ||||||
552,000 | Dongfeng Motor Group Co. Ltd., H Shares (Automobile Manufacturers) | 952 | ||||||
265,000 | Golden Eagle Retail Group Ltd. (Department Stores) | 653 | ||||||
3,907,000 | Industrial and Commercial Bank of China Ltd., H Shares (Diversified Banks) | 2,910 | ||||||
123,500 | Inner Mongolia Yitai Coal Co. Ltd., Class – B (Coal & Consumable Fuels) (a) | 881 | ||||||
264,000 | Jiangxi Copper Co. Ltd., H Shares (Diversified Metals & Mining) | 868 | ||||||
7,700 | New Oriental Education & Technology Group, Inc. – Sponsored ADR (Education Services) (a) | 810 | ||||||
1,558,000 | PetroChina Co. Ltd., H Shares (Integrated Oil & Gas) | 2,037 | ||||||
832,000 | PICC Property & Casualty Co. Ltd., H Shares (Property & Casualty Insurance) (a) | 1,205 | ||||||
66,000 | Ping An Insurance Group Co. of China Ltd., H Shares (Life & Health Insurance) | 738 | ||||||
816,000 | Shanghai Electric Group Co. Ltd., H Shares (Heavy Electrical Equipment) | 539 | ||||||
336,000 | Shimao Property Holdings Ltd. (Real Estate Development) | 507 | ||||||
778,500 | Soho China Ltd. (Real Estate Development) | 579 | ||||||
124,400 | Tencent Holdings Ltd. (Internet Software & Services) | 2,703 | ||||||
212,000 | Xinao Gas Holdings Ltd. (Gas Utilities) | 635 | ||||||
560,000 | Yanzhou Coal Mining Co. Ltd., H Shares (Coal & Consumable Fuels) | 1,711 | ||||||
126,500 | Zhaojin Mining Industry Co. Ltd., H Shares (Gold) (a) | 518 | ||||||
424,000 | Zhejiang Expressway Co. Ltd., H Shares (Highways & Railtracks) | 418 | ||||||
35,052 | ||||||||
Shares | Security | Value (000) | ||||||
Colombia — 0.62% |
| |||||||
18,300 | BanColombia SA – Sponsored ADR (Diversified Banks) | $ | 1,133 | |||||
618,595 | Ecopetrol SA (Integrated Oil & Gas) | 1,324 | ||||||
31,523 | Grupo de Inversiones Suramericana SA (Multi-Sector Holdings) | 617 | ||||||
3,074 | ||||||||
Czech Republic — 1.05% |
| |||||||
59,555 | CEZ A/S (Electric Utilities) | 2,493 | ||||||
8,342 | Komercni Banka A/S (Diversified Banks) | 1,978 | ||||||
35,784 | Telefonica O2 Czech Republic A/S (Integrated Telecommunication Services) | 730 | ||||||
5,201 | ||||||||
Egypt — 1.65% | ||||||||
187,923 | Al Ezz Steel Rebars SAE (Steel) (a) | 635 | ||||||
234,274 | Commercial International Bank (Diversified Banks) | 1,913 | ||||||
18,227 | Egyptian Co. for Mobile Services (Wireless Telecommunication Services) | 518 | ||||||
96,658 | Egyptian Financial Group – Hermes Holding (Investment Banking & Brokerage) | 565 | ||||||
30,719 | ELSwedy Cables Holding, Co. (Electrical Components & Equipment) (a) | 285 | ||||||
32,465 | Orascom Construction Industries (Construction & Engineering) | 1,606 | ||||||
13,241 | Orascom Construction Industries – GDR (Construction & Engineering) | 649 | ||||||
347,015 | Orascom Telecom Holding SAE (Wireless Telecommunication Services) (a) | 258 | ||||||
45,654 | Orascom Telecom Holding SAE (Wireless Telecommunication Services) (a) | 167 | ||||||
39,603 | Orascom Telecom Holding SAE – Registered GDR (Wireless Telecommunication Services) (a) | 141 | ||||||
549,108 | Talaat Moustafa Group (Real Estate Development) (a) | 816 | ||||||
200,369 | Telecom Egypt (Integrated Telecommunication Services) | 624 | ||||||
8,177 | ||||||||
Hong Kong — 3.67% |
| |||||||
652,000 | Agile Property Holdings Ltd. (Real Estate Development) | 960 | ||||||
325,000 | Anta Sports Products Ltd. (Apparel, Accessories & Luxury Goods) | 516 | ||||||
431,000 | China Agri-Industries Holdings Ltd. (Agricultural Products) | 489 | ||||||
838,000 | China Citic Bank, H Shares (Diversified Banks) | 543 |
See accompanying notes to financial statements
128
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Hong Kong (continued) |
| |||||||
612,500 | China Mobile Ltd. (Wireless Telecommunication Services) | $ | 6,083 | |||||
166,000 | China Resources Power Holdings Co. Ltd. (Independent Power Producers & Energy Traders) | 301 | ||||||
108,000 | China Shineway Pharmaceutical Group Ltd. (Pharmaceuticals) | 310 | ||||||
1,723,000 | CNOOC Ltd. (Oil & Gas Exploration & Production) | 4,088 | ||||||
1,404,945 | Evergrande Real Estate Group Ltd. (Real Estate Development) (a) | 683 | ||||||
167,500 | Hengan International Group Co. Ltd. (Personal Products) | 1,445 | ||||||
116,500 | Kingboard Chemical Holdings Ltd. (Electronic Components) | 698 | ||||||
758,000 | Lenovo Group Ltd. (Computer Hardware) | 486 | ||||||
163,000 | Shanghai Industrial Holdings Ltd. (Industrial Conglomerates) | 705 | ||||||
144,000 | Weichai Power Co. Ltd., H Shares (Construction & Farm Machinery & Heavy Trucks) | 886 | ||||||
18,193 | ||||||||
India — 6.12% |
| |||||||
18,281 | ACC Ltd. (Construction Materials) (a) | 440 | ||||||
78,187 | Ambuja Cements Ltd. (Construction Materials) | 250 | ||||||
32,160 | Axis Bank Ltd. (Diversified Banks) | 971 | ||||||
30,156 | Bajaj Auto Ltd. (Motorcycle Manufacturers) | 1,039 | ||||||
6,410 | Bharat Heavy Electricals Ltd. (Heavy Electrical Equipment) | 333 | ||||||
21,065 | Bharat Petroleum Corp. Ltd. (Oil & Gas Refining & Marketing) | 310 | ||||||
21,168 | Coal India Ltd. (Coal & Consumable Fuels) (a) | 149 | ||||||
26,995 | Dr. Reddy’s Laboratories Ltd. (Pharmaceuticals) | 1,004 | ||||||
68,077 | GAIL India Ltd. (Gas Utilities) | 781 | ||||||
24,394 | HDFC Bank Ltd. (Diversified Banks) | 1,280 | ||||||
268,397 | Hindalco Industries Ltd. (Aluminum) | 1,483 | ||||||
98,426 | Hindustan Unilever Ltd. (Household Products) | 689 | ||||||
97,780 | Housing Development Finance Corp. (Thrifts & Mortgage Finance) | 1,593 | ||||||
89,601 | ICICI Bank Ltd. (Diversified Banks) | 2,295 | ||||||
54,953 | Infosys Technologies Ltd. (IT Consulting & Other Services) | 4,232 |
Shares | Security | Value (000) | ||||||
India (continued) | ||||||||
107,536 | Infrastructure Development Finance Co. Ltd. (Specialized Finance) | $ | 439 | |||||
393,116 | ITC Ltd. (Tobacco) | 1,536 | ||||||
17,291 | Larsen & Toubro Ltd. (Construction & Engineering) | 765 | ||||||
58,385 | Mahindra & Mahindra Ltd. (Automobile Manufacturers) | 1,016 | ||||||
18,182 | Oil & Natural Gas Corp. Ltd. (Oil & Gas Exploration & Production) | 524 | ||||||
134,232 | Reliance Industries Ltd. (Oil & Gas Refining & Marketing) | 3,179 | ||||||
73,419 | Rural Electrification Corp. Ltd. (Specialized Finance) | 491 | ||||||
14,540 | Siemens India Ltd. (Industrial Conglomerates) | 267 | ||||||
8,867 | State Bank of India Ltd. (Diversified Banks) | 558 | ||||||
33,326 | Sun Pharmaceutical Industries Ltd. (Pharmaceuticals) | 361 | ||||||
87,845 | Tata Consultancy Services Ltd. (IT Consulting & Other Services) | 2,290 | ||||||
41,393 | Tata Motors Ltd. (Construction & Farm Machinery & Heavy Trucks) | 1,211 | ||||||
10,839 | Tata Power Co. Ltd. (Electric Utilities) | 331 | ||||||
32,565 | Tata Steel Ltd. (Steel) | 496 | ||||||
30,313 | ||||||||
Indonesia — 2.98% |
| |||||||
1,828,000 | PT Adaro Energy Tbk (Coal & Consumable Fuels) | 518 | ||||||
458,500 | PT Astra International Tbk (Automobile Manufacturers) | 2,777 | ||||||
1,985,000 | PT Bank Central Asia Tbk (Diversified Banks) | 1,411 | ||||||
1,889,000 | PT Bank Mandiri Tbk (Diversified Banks) | 1,363 | ||||||
1,443,500 | PT Bank Rakyat Indonesia Tbk (Diversified Banks) | 1,683 | ||||||
4,016,000 | PT Bumi Resources Tbk (Coal & Consumable Fuels) | 1,349 | ||||||
136,000 | PT Gudang Garam Tbk (Tobacco) | 604 | ||||||
78,000 | PT Indo Tambangraya Megah (Coal & Consumable Fuels) (a) | 440 | ||||||
1,819,000 | PT Indofood Sukses Makmur Tbk (Packaged Foods & Meats) | 985 | ||||||
1,735,500 | PT Perusahaan Gas Negara Tbk (Gas Utilities) | 853 | ||||||
1,162,500 | PT Semen Gresik Persero Tbk (Construction Materials) | 1,220 |
See accompanying notes to financial statements
129
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Indonesia (continued) |
| |||||||
1,741,500 | PT Telekomunikasi Indonesia Tbk (Integrated Telecommunication Services) | $ | 1,537 | |||||
14,740 | ||||||||
Mexico — 3.71% |
| |||||||
90,800 | Alfa SAB, Class – A (Industrial Conglomerates) | 910 | ||||||
123,700 | America Movil SAB de CV, Series L – Sponsored ADR (Wireless Telecommunication Services) | 7,093 | ||||||
4,200 | Coca-Cola Femsa SAB de CV – Sponsored ADR (Soft Drinks) | 346 | ||||||
10,100 | Desarrolladora Homex SA de CV – Sponsored ADR (Homebuilding) (a) | 342 | ||||||
26,000 | Fomento Economico Mexicano SAB de CV – Sponsored ADR (Soft Drinks) | 1,454 | ||||||
132,900 | Grupo Aeroportuario del Pacifico SAB de CV, B Shares (Airport Services) | 541 | ||||||
67,800 | Grupo Financiero Banorte SAB de CV (Diversified Banks) | 322 | ||||||
625,000 | Grupo Mexico SAB de CV – Series B (Diversified Metals & Mining) | 2,573 | ||||||
66,200 | Grupo Modelo SAB de CV – Series C (Brewers) | 412 | ||||||
45,100 | Grupo Televisa SA – Sponsored ADR (Broadcasting) (a) | 1,169 | ||||||
119,400 | Kimberly-Clark de Mexico SAB de CV, Class – A (Household Products) | 729 | ||||||
267,600 | Mexichem SAB de CV (Commodity Chemicals) | 958 | ||||||
534,900 | Wal-Mart de Mexico SAB de CV – Series V (Hypermarkets & Super Centers) | 1,529 | ||||||
18,378 | ||||||||
Netherlands — 0.10% |
| |||||||
10,205 | X5 Retail Group NV – Registered GDR (Food Retail) (a) | 472 | ||||||
Peru — 1.52% |
| |||||||
82,100 | Compania de Minas Buenaventura SA – Sponsored ADR (Precious Metals & Minerals) | 4,020 | ||||||
29,300 | Credicorp Ltd. (Diversified Banks) | 3,484 | ||||||
7,504 | ||||||||
Philippines — 1.15% |
| |||||||
1,926,900 | Ayala Land, Inc. (Diversified Real Estate Activities) | 724 | ||||||
531,119 | Bank of the Philippine Islands (Diversified Banks) | 715 |
Shares | Security | Value (000) | ||||||
Philippines (continued) |
| |||||||
5,955,100 | Energy Development Corp. (Independent Power Producers & Energy Traders) | $ | 798 | |||||
263,130 | First Philippine Holdings Corp. (Electric Utilities) | 376 | ||||||
312,410 | Metropolitan Bank & Trust Co. (Diversified Banks) | 514 | ||||||
21,500 | Philippine Long Distance Telephone Co. – Sponsored ADR (Wireless Telecommunication Services) | 1,253 | ||||||
73,380 | SM Investments Corp. (Industrial Conglomerates) | 910 | ||||||
1,512,800 | SM Prime Holdings, Inc. (Real Estate Operating Companies) | 393 | ||||||
5,683 | ||||||||
Poland — 1.14% | ||||||||
9,448 | Bank Pekao SA (Diversified Banks) | 572 | ||||||
25,626 | KGHM Polska Miedz SA (Diversified Metals & Mining) | 1,498 | ||||||
73,034 | Polski Koncern Naftowy Orlen SA (Oil & Gas Refining & Marketing) (a) | 1,130 | ||||||
118,437 | Powszechna Kasa Oszczednosci Bank Polski SA (Diversified Banks) | 1,735 | ||||||
3,155 | Powszechny Zaklad Ubezpieczen SA (Multi-line Insurance) | 379 | ||||||
63,443 | Telekomunikacja Polska SA (Integrated Telecommunication Services) | 351 | ||||||
5,665 | ||||||||
Russia — 9.38% |
| |||||||
109,242 | Gazprom (Integrated Oil & Gas) | 2,758 | ||||||
394,949 | Gazprom – Sponsored ADR (Integrated Oil & Gas) | 10,048 | ||||||
55,753 | Globaltrans Investment PLC – Sponsored GDR Registered (Railroads) | 948 | ||||||
3,729,706 | IDGC Holding JSC (Electric Utilities) (a)(d) | 661 | ||||||
88,200 | LUKOIL – Sponsored ADR (Integrated Oil & Gas) | 5,047 | ||||||
23,900 | Mechel – Sponsored ADR (Steel) | 699 | ||||||
134,266 | Mining and Metallurgical Co. Norilsk Nickel (Diversified Metals & Mining) | 3,178 | ||||||
31,461 | Mining and Metallurgical Co. Norilsk Nickel – ADR (Diversified Metals & Mining) | 756 | ||||||
81,300 | Mobile TeleSystems – Sponsored ADR (Wireless Telecommunication Services) | 1,697 | ||||||
28,246 | NovaTek OAO – Sponsored GDR Registered (Oil & Gas Exploration & Production) | 3,375 |
See accompanying notes to financial statements
130
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Russia (continued) |
| |||||||
32,631 | Polymetal (Precious Metals & Minerals) (a)(d) | $ | 604 | |||||
7,207 | Polymetal – Registered GDR (Precious Metals & Minerals) (a) | 132 | ||||||
302,957 | Rosneft Oil Co. (Integrated Oil & Gas) | 2,167 | ||||||
7,163,900 | Rushydro (Electric Utilities) (a) | 385 | ||||||
1,724,990 | Sberbank (Diversified Banks) | 5,877 | ||||||
104,025 | Severstal (Diversified Metals & Mining) (d) | 1,727 | ||||||
55,830 | Sistema JSFC – Sponsored GDR Registered (Wireless Telecommunication Services) | 1,392 | ||||||
2,540,764 | Surgutneftegaz – Preferred (Integrated Oil & Gas) (d) | 1,270 | ||||||
32,817 | Tatneft – Sponsored ADR (Oil & Gas Exploration & Production) | 1,086 | ||||||
18,200 | VimpelCom Ltd. – Sponsored ADR (Wireless Telecommunication Services) | 274 | ||||||
725,547,274 | VTB Bank OJSC (Diversified Banks) | 2,394 | ||||||
46,475 | ||||||||
South Africa — 3.33% |
| |||||||
19,414 | ABSA Group Ltd. (Diversified Banks) | 413 | ||||||
2,420 | African Rainbow Minerals Ltd. (Diversified Metals & Mining) | 77 | ||||||
6,242 | AngloGold Ashanti Ltd. (Gold) | 310 | ||||||
58,532 | Aveng Ltd. (Construction & Engineering) | 385 | ||||||
19,759 | Bidvest Group Ltd. (Industrial Conglomerates) | 471 | ||||||
21,034 | Exxaro Resources Ltd. (Diversified Metals & Mining) | 436 | ||||||
223,130 | FirstRand Ltd. (Other Diversified Financial Services) | 662 | ||||||
46,498 | Gold Fields Ltd. (Gold) | 853 | ||||||
174,703 | Growthpoint Properties Ltd. (Specialized REITs) | 487 | ||||||
30,433 | Impala Platinum Holdings Ltd. (Precious Metals & Minerals) | 1,078 | ||||||
24,870 | Imperial Holdings Ltd. (Distributors) | 482 | ||||||
19,261 | Investec Ltd. (Diversified Capital Markets) | 164 | ||||||
10,574 | Kumba Iron Ore Ltd. (Steel) | 682 | ||||||
229,245 | Life Healthcare Group Holdings Pte Ltd. (Health Care Facilities) | 518 | ||||||
82,108 | MMI Holdings Ltd. (Life & Health Insurance) (a) | 207 |
Shares | Security | Value (000) | ||||||
South Africa (continued) | ||||||||
95,383 | MTN Group Ltd. (Wireless Telecommunication Services) | $ | 1,949 | |||||
8,316 | Naspers Ltd., N Shares (Cable & Satellite) | 490 | ||||||
14,715 | Remgro Ltd. (Multi-Sector Holdings) | 253 | ||||||
15,838 | Reunert Ltd. (Industrial Conglomerates) (a) | 161 | ||||||
105,349 | RMB Holdings Ltd. (Other Diversified Financial Services) | 617 | ||||||
6,870 | Royal Bafokeng Platinum Ltd. (Precious Metals & Minerals) (a) | 70 | ||||||
117,932 | Sanlam Ltd. (Life & Health Insurance) | 501 | ||||||
30,855 | Sappi Ltd. (Paper Products) (a) | 159 | ||||||
32,666 | Sasol Ltd. (Integrated Oil & Gas) | 1,720 | ||||||
23,153 | Shoprite Holdings Ltd. (Hypermarkets & Super Centers) | 351 | ||||||
47,298 | Standard Bank Group Ltd. (Diversified Banks) | 773 | ||||||
88,487 | Steinhoff International Holdings Ltd. (Home Furnishings) | 330 | ||||||
10,911 | The Spar Group Ltd. (Food Distributors) | 162 | ||||||
5,562 | Tiger Brands Ltd. (Packaged Foods & Meats) | 164 | ||||||
48,309 | Truworths International Ltd. (Apparel Retail) | 526 | ||||||
40,151 | Vodacom Group Ltd. (Wireless Telecommunication Services) | 467 | ||||||
136,402 | Woolworths Holdings Ltd. (Department Stores) | 559 | ||||||
16,477 | ||||||||
South Korea — 12.79% |
| |||||||
503 | Amorepacific Corp. (Personal Products) | 505 | ||||||
20,730 | Daegu Bank (Regional Banks) (a) | 285 | ||||||
15,976 | Daelim Industrial Co. Ltd. (Construction & Engineering) | 1,654 | ||||||
26,290 | Daewoo Shipbuilding & Marine Engineering Co. Ltd. (Construction & Farm Machinery & Heavy Trucks) (a) | 842 | ||||||
33,470 | Dongbu Insurance Co. Ltd. (Property & Casualty Insurance) | 1,327 | ||||||
2,095 | GLOVIS Co. Ltd. (Air Freight & Logistics) (a) | 275 | ||||||
21,713 | GS Holdings (Oil & Gas Refining & Marketing) (a) | 1,248 | ||||||
38,880 | Hana Financial Group, Inc. (Diversified Banks) | 1,484 | ||||||
4,122 | Honam Petrochemical Corp. (Commodity Chemicals) (a) | 977 | ||||||
5,480 | Hyundai Department Store Co. Ltd. (Department Stores) (a) | 674 |
See accompanying notes to financial statements
131
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
South Korea (continued) | ||||||||
6,956 | Hyundai Heavy Industries Co. Ltd. (Construction & Farm Machinery & Heavy Trucks) (a) | $ | 2,716 | |||||
14,176 | Hyundai Mobis (Auto Parts & Equipment) (a) | 3,554 | ||||||
28,313 | Hyundai Motor Co. Ltd. (Automobile Manufacturers) (a) | 4,329 | ||||||
9,203 | Hyundai Steel Co. (Steel) | 1,010 | ||||||
95,890 | Industrial Bank of Korea (Diversified Banks) (a) | 1,585 | ||||||
52,490 | Kangwon Land, Inc. (Casinos & | 1,293 | ||||||
972 | KCC Corp. (Building Products) | 338 | ||||||
87,490 | Korea Exchange Bank (Diversified Banks) | 910 | ||||||
1,581 | Korea Zinc Co. Ltd. (Diversified Metals & Mining) | 385 | ||||||
47,820 | KT Corp. (Integrated Telecommunication Services) (a) | 1,949 | ||||||
23,444 | KT&G Corp. (Tobacco) (a) | 1,337 | ||||||
8,545 | LG Chem Ltd. (Commodity | 2,944 | ||||||
28,839 | LG Corp. (Industrial Conglomerates) | 2,219 | ||||||
38,150 | LG Display Co. Ltd. (Electronic Components) | 1,338 | ||||||
3,009 | LG Household & Health Care Ltd. (Household Products) (a) | 1,034 | ||||||
7,236 | POSCO (Steel) | 3,106 | ||||||
17,326 | Samsung Electronics Co. Ltd. (Semiconductors) | 14,491 | ||||||
3,827 | Samsung Electronics Co. Ltd. – Preferred (Semiconductors) | 2,189 | ||||||
6,889 | Samsung Fire & Marine Insurance Co. Ltd. (Property & Casualty Insurance) | 1,366 | ||||||
64,390 | Shinhan Financial Group Co. Ltd. (Diversified Banks) (a) | 3,002 | ||||||
9,894 | SK Holdings Co. Ltd. (Industrial Conglomerates) (a) | 1,216 | ||||||
9,458 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 1,446 | ||||||
9,530 | Woongjin Coway Co. Ltd. (Household Appliances) | 338 | ||||||
63,366 | ||||||||
Taiwan — 4.29% |
| |||||||
286,256 | Acer, Inc. (Computer Hardware) | 886 | ||||||
130,888 | Advanced Semiconductor Engineering, Inc. (Semiconductors) | 152 | ||||||
186,210 | Asia Cement Corp. (Construction Materials) | 206 |
Shares | Security | Value (000) | ||||||
Taiwan (continued) |
| |||||||
108,700 | Asustek Computer, Inc. (Computer Storage & Peripherals) | $ | 1,034 | |||||
642,000 | AU Optronics Corp. (Electronic Components) (a) | 668 | ||||||
58,000 | Catcher Technology Co. Ltd. (Computer Storage & Peripherals) | 215 | ||||||
280,850 | Cathay Financial Holding Co. Ltd. (Life & Health Insurance) | 499 | ||||||
446,480 | China Steel Corp. (Steel) | 514 | ||||||
754,616 | Chinatrust Financial Holding Co. Ltd. (Diversified Banks) | 555 | ||||||
142,636 | Chunghwa Telecom Co. Ltd. (Integrated Telecommunication Services) | 363 | ||||||
216,000 | Coretronic Corp. (Electronic Equipment & Instruments) | 354 | ||||||
79,000 | Delta Electronics, Inc. (Electronic Components) | 387 | ||||||
457,400 | Far Eastern New Century Corp. (Industrial Conglomerates) | 776 | ||||||
74,000 | Farglory Land Development Co. Ltd. (Real Estate Development) | 200 | ||||||
276,125 | First Financial Holding Co. Ltd. (Diversified Banks) | 255 | ||||||
65,000 | Formosa Chemicals & Fibre Corp. (Specialty Chemicals) | 219 | ||||||
481,000 | Formosa Plastics Corp. (Commodity Chemicals) | 1,611 | ||||||
601,121 | Fubon Financial Holding Co. Ltd. (Other Diversified Financial Services) | 826 | ||||||
392,000 | Hon Hai Precision Industry Co. Ltd. (Electronic Manufacturing Services) | 1,582 | ||||||
47,050 | HTC Corp. (Computer Hardware) | 1,455 | ||||||
61,107 | MediaTek, Inc. (Semiconductors) | 876 | ||||||
333,000 | Mega Financial Holding Co. Ltd. (Diversified Banks) | 257 | ||||||
47,639 | Pegatron Corp. (Computer Storage & Peripherals) (a) | 69 | ||||||
502,620 | Pou Chen Corp. (Footwear) | 465 | ||||||
185,000 | Powertech Technology, Inc. (Semiconductors) | 616 | ||||||
52,520 | Silitech Technology Corp. (Electrical Components & Equipment) | 163 | ||||||
599,000 | Taiwan Cooperative Bank (Diversified Banks) | 521 | ||||||
71,000 | Taiwan Fertilizer Co. Ltd. (Fertilizers & Agricultural Chemicals) | 266 | ||||||
185,000 | Taiwan Mobile Co. Ltd. (Wireless Telecommunication Services) | 443 | ||||||
1,138,000 | Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors) | 2,776 | ||||||
145,000 | Tripod Technology Corp. (Electronic Components) | 593 |
See accompanying notes to financial statements
132
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Shares | Security | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
SSgA Funds Management, Inc. (continued) |
| |||||||
Taiwan (continued) |
| |||||||
63,000 | U-Ming Marine Transport Corp. (Marine) | $ | 137 | |||||
78,100 | Uni-President Enterprises Corp. (Packaged Foods & Meats) | 116 | ||||||
299,000 | United Microelectronics Corp. (Semiconductors) | 167 | ||||||
327,398 | Wistron Corp. (Computer Hardware) | 668 | ||||||
452,000 | Yuanta Financial Holding Co. Ltd. (Investment Banking & Brokerage) | 338 | ||||||
21,228 | ||||||||
Thailand — 2.87% |
| |||||||
313,800 | Advanced Info Service Public Co. Ltd. (Wireless Telecommunication Services) | 885 | ||||||
244,700 | Bangkok Bank Public Co. Ltd. (Diversified Banks) | 1,194 | ||||||
9,800 | Banpu Public Co. Ltd. (Coal & Consumable Fuels) | 256 | ||||||
44,050 | Banpu Public Co. Ltd. (Coal & Consumable Fuels) | 1,158 | ||||||
179,100 | BEC World Public Co. Ltd. (Broadcasting) (a) | 189 | ||||||
1,138,700 | Charoen Pokphand Foods Public Co. Ltd. (Agricultural Products) (a) | 933 | ||||||
717,800 | CP ALL Public Co. Ltd. (Department Stores) | 935 | ||||||
119,400 | Glow Energy Public Co. Ltd. (Independent Power Producers & Energy Traders) (a) | 187 | ||||||
423,300 | Kasikornbank Public Co. Ltd. (Diversified Banks) | 1,763 | ||||||
2,541,600 | Krung Thai Bank Public Co. Ltd. (Diversified Banks) | 1,459 | ||||||
217,200 | PTT Aromatics & Refining Public Co. Ltd. (Oil & Gas Refining & Marketing) | 276 | ||||||
106,600 | PTT Chemical Public Co. Ltd. (Commodity Chemicals) (a) | 520 | ||||||
206,400 | PTT Exploration & Production Public Co. Ltd. (Oil & Gas Exploration & Production) | 1,151 | ||||||
237,100 | PTT Public Co. Ltd. (Integrated Oil & Gas) | 2,518 | ||||||
100,700 | Thai Oil Public Co. Ltd. (Oil & Gas Refining & Marketing) | 262 | ||||||
48,200 | The Siam Cement Public Co. Ltd. (Construction Materials) | 546 | ||||||
14,232 | ||||||||
Shares | Security | Value (000) | ||||||
Tokelau — 0.17% |
| |||||||
56,222 | Anadolu Efes Biracilik Ve Malt Sanayii AS (Brewers) | $ | 854 | |||||
Turkey — 3.75% |
| |||||||
325,230 | Akbank TAS (Diversified Banks) | 1,811 | ||||||
177,623 | Arcelik AS (Household Appliances) | 899 | ||||||
24,653 | BIM Birlesik Magazalar AS (Food Retail) | 840 | ||||||
270,323 | Haci Omer Sabanci Holding AS (Multi-Sector Holdings) | 1,263 | ||||||
405,721 | Koc Holding AS (Industrial Conglomerates) | 1,980 | ||||||
59,960 | Tupras-Turkiye Petrol Rafinerileri AS (Oil & Gas Refining & Marketing) | 1,502 | ||||||
394,381 | Turk Telekomunikasyon AS (Integrated Telecommunication Services) | 1,663 | ||||||
703,136 | Turkiye Garanti Bankasi AS (Diversified Banks) | 3,568 | ||||||
160,659 | Turkiye Halk Bankasi AS (Diversified Banks) | 1,366 | ||||||
668,372 | Turkiye Is Bankasi AS, Class – C (Diversified Banks) | 2,385 | ||||||
404,480 | Yapi ve Kredi Bankasi AS (Diversified Banks) (a) | 1,276 | ||||||
18,553 | ||||||||
United States — 0.90% |
| |||||||
91,700 | Southern Copper Corp. (Diversified Metals & Mining) | 4,469 | ||||||
Total SSgA Funds Management, Inc. | 402,958 | |||||||
Total Common Stocks | 457,024 | |||||||
Mutual Funds — 5.99% |
| |||||||
Boston Company Asset Management, LLC — 0.33% |
| |||||||
6,120 | iShares MSCI Emerging Markets Index | 292 | ||||||
83,680 | iShares MSCI Taiwan Index Fund | 1,307 | ||||||
Total Boston Company Asset Management, LLC | 1,599 | |||||||
SSgA Funds Management, Inc. — 5.66% |
| |||||||
14,524,237 | Alliance Money Market Fund Prime Portfolio, 0.16% (c) | 14,524 | ||||||
9,711,930 | Federated Prime Obligations Portfolio, 0.18% (c) | 9,712 | ||||||
78,900 | Vanguard Emerging Markets ETF | 3,799 | ||||||
Total SSgA Funds Management, Inc. | 28,035 | |||||||
Total Mutual Funds | 29,634 | |||||||
See accompanying notes to financial statements
133
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Shares or | Security | Value (000) | ||||||
Time Deposits — 0.19% |
| |||||||
Boston Company Asset Management, LLC — 0.19% |
| |||||||
$ | 940 | State Street Liquidity Management Control System Time Deposit, 0.01%, 1/3/11 | $ | 940 | ||||
Total Time Deposits | 940 | |||||||
Rights — 0.00% | ||||||||
SSgA Funds Management, Inc. — 0.00% |
| |||||||
32,689 | Metropolitan Bank & Trust Co. | 16 | ||||||
Total Rights | 16 | |||||||
Total Investments | 487,614 | |||||||
Other assets in excess of | 7,630 | |||||||
Net Assets — 100.00% | $ | 495,244 | ||||||
(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) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2010. |
(d) | Security was valued in good faith under procedures established by the Board of Trustees. |
ADR — American Depositary Receipt
ETF — Exchange Traded Fund
GDR — Global Depositary Receipt
Futures
SSgA Funds Management, Inc.
Number of | Futures Contracts Positions ^ | Value (000) | Expiration | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
145 | FTSE/JSE TOP 40 | $ | 6,351 | Mar-11 | $ | 117 | ||||||||||
125 | H-Shares IDX Future | 10,182 | Jan-11 | 191 | ||||||||||||
383 | MSCI Taiwan Index Future | 12,229 | Jan-11 | 194 | ||||||||||||
Net Unrealized Appreciation/(Depreciation) | $ | 502 | ||||||||||||||
^ | See Statement of Assets and Liabilities for Segregated cash for collateral |
Currency Contracts
SSgA Funds Management, Inc.
Contract | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/10 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Purchased | ||||||||||||||||||||||||
27,495,600 | South African Rand | Societe Generale | 1/14/11 | $ | 3,996 | $ | 4,171 | $ | 175 | |||||||||||||||
324,030,000 | Taiwan Dollar | Morgan Stanley | 1/14/11 | 10,821 | 11,136 | 315 | ||||||||||||||||||
Total Currencies Purchased |
| $ | 14,817 | $ | 15,307 | $ | 490 | |||||||||||||||||
Net Unrealized Appreciation/(Depreciation) |
| $ | 490 | |||||||||||||||||||||
See accompanying notes to financial statements
134
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Collateralized Mortgage Obligations — 1.58% | ||||||||||||||||
BlackRock Financial Management, Inc. — 1.58% | ||||||||||||||||
$ | 255 | Banc of America Commercial Mortgage, Inc., Series 2007-2, Class A4 (a) | 5.69 | 4/10/49 | $ | 267 | ||||||||||
190 | CS First Boston Mortgage Securities Corp., Series 2005-C6, Class A4 (a) | 5.23 | 10/15/15 | 204 | ||||||||||||
255 | JPMorgan Chase Commercial Mortgage Securities Co., Series 2006-CB17, Class A4 | 5.43 | 12/12/43 | 270 | ||||||||||||
200 | JPMorgan Chase Commercial Mortgage Securities Co., Series 2007-CB18, Class A3 | 5.45 | 6/12/47 | 207 | ||||||||||||
255 | Morgan Stanley Capital I, Series 2007-HQ11, Class A4 (a) | 5.45 | 2/12/44 | 265 | ||||||||||||
190 | Morgan Stanley Capital I, Series 2007-IQ15, Class A4 (a) | 5.88 | 7/11/17 | 203 | ||||||||||||
255 | Wachovia Bank Commercial Mortgage Trust, Series 2007-C33, Class A4 (a) | 5.90 | 7/15/17 | 265 | ||||||||||||
Total Collateralized Mortgage Obligations | 1,681 | |||||||||||||||
U.S. Government Agency Mortgages — 29.86% | ||||||||||||||||
BlackRock Financial Management, Inc. — 29.86% | ||||||||||||||||
400 | Fannie Mae, 10 YR TBA | 5.50 | 1/25/26 | 430 | ||||||||||||
300 | Fannie Mae, 15 YR TBA | 3.50 | 1/25/26 | 302 | ||||||||||||
1,300 | Fannie Mae, 15 YR TBA | 4.00 | 1/25/26 | 1,339 | ||||||||||||
1,100 | Fannie Mae, 15 YR TBA | 4.50 | 1/25/26 | 1,153 | ||||||||||||
700 | Fannie Mae, 15 YR TBA | 5.00 | 1/25/26 | 743 | ||||||||||||
600 | Fannie Mae, 30 YR TBA | 4.00 | 1/25/41 | 597 | ||||||||||||
3,400 | Fannie Mae, 30 YR TBA | 4.50 | 1/25/41 | 3,490 | ||||||||||||
700 | Fannie Mae, 30 YR TBA | 5.00 | 1/25/41 | 736 | ||||||||||||
200 | Fannie Mae, 30 YR TBA | 5.50 | 1/25/41 | 214 | ||||||||||||
700 | Fannie Mae, 30 YR TBA | 6.50 | 1/25/41 | 778 | ||||||||||||
1,407 | Fannie Mae, Pool #725228 | 6.00 | 3/1/34 | 1,550 | ||||||||||||
1,300 | Fannie Mae, Pool #889117 | 5.00 | 10/1/35 | 1,374 | ||||||||||||
1,976 | Fannie Mae, Pool #890221 | 5.50 | 12/1/33 | 2,128 | ||||||||||||
475 | Fannie Mae, Pool #AE0442 | 6.50 | 1/1/39 | 530 | ||||||||||||
1,300 | Freddie Mac, 30 YR TBA | 4.00 | 1/15/41 | 1,290 | ||||||||||||
1,200 | Freddie Mac, 30 YR TBA | 5.00 | 1/15/41 | 1,259 | ||||||||||||
300 | Freddie Mac, 30 YR TBA | 5.50 | 1/15/41 | 320 | ||||||||||||
100 | Freddie Mac, 30 YR TBA | 6.00 | 1/15/41 | 108 | ||||||||||||
3,000 | Freddie Mac, Gold 30 YR TBA | 4.50 | 1/15/41 | 3,074 | ||||||||||||
900 | Freddie Mac, Pool #1B7911 (a) | 2.71 | 12/1/40 | 909 | ||||||||||||
904 | Freddie Mac, Pool #C01598 | 5.00 | 8/1/33 | 954 | ||||||||||||
1,269 | Freddie Mac, Pool #G01665 | 5.50 | 3/1/34 | 1,363 | ||||||||||||
861 | Freddie Mac, Pool #G02794 | 6.00 | 5/1/37 | 936 | ||||||||||||
200 | Government National Mortgage Association, 30 YR TBA | 4.00 | 1/15/41 | 201 | ||||||||||||
1,200 | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/15/41 | 1,246 | ||||||||||||
800 | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/20/41 | 831 | ||||||||||||
600 | Government National Mortgage Association, 30 YR TBA | 5.00 | 1/15/41 | 638 | ||||||||||||
1,000 | Government National Mortgage Association, 30 YR TBA | 5.00 | 1/20/41 | 1,063 | ||||||||||||
400 | Government National Mortgage Association, 30 YR TBA | 5.50 | 1/20/40 | 430 | ||||||||||||
100 | Government National Mortgage Association, 30 YR TBA | 5.50 | 1/15/41 | 108 | ||||||||||||
300 | Government National Mortgage Association, 30 YR TBA | 6.00 | 1/20/40 | 328 | ||||||||||||
200 | Government National Mortgage Association, 30 YR TBA | 6.50 | 1/15/41 | 225 | ||||||||||||
293 | Government National Mortgage Association, Pool #510835 | 5.50 | 2/15/35 | 318 | ||||||||||||
112 | Government National Mortgage Association, Pool #658181 | 5.50 | 11/15/36 | 121 | ||||||||||||
300 | Government National Mortgage Association, Pool #781959 | 6.00 | 7/15/35 | 329 | ||||||||||||
263 | Government National Mortgage Association, Pool #782523 | 5.00 | 11/15/35 | 280 | ||||||||||||
Total U.S. Government Agency Mortgages | 31,695 | |||||||||||||||
See accompanying notes to financial statements
135
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Securities — 4.17% | ||||||||||||||||
Mellon Capital Management Corp. — 4.17% | ||||||||||||||||
$ | 398 | Fannie Mae, Callable 4/22/11 @ 100.00 | 1.05 | 10/22/13 | $ | 395 | ||||||||||
299 | Fannie Mae, Callable 6/2/11 @ 100.00 | 1.13 | 12/2/13 | 299 | ||||||||||||
249 | Fannie Mae, Callable 5/18/11 @ 100.00 | 1.15 | 11/18/14 | 244 | ||||||||||||
152 | Fannie Mae | 1.63 | 10/26/15 | 148 | ||||||||||||
150 | Fannie Mae | 2.63 | 11/20/14 | 156 | ||||||||||||
282 | Fannie Mae | 2.75 | 2/5/14 | 295 | ||||||||||||
169 | Fannie Mae | 7.25 | 5/15/30 | 228 | ||||||||||||
328 | Fannie Mae, Series 1, Callable 6/28/11 @ 100.00 | 0.88 | 12/28/12 | 327 | ||||||||||||
385 | Federal Home Loan Bank | 0.88 | 8/22/12 | 387 | ||||||||||||
165 | Federal Home Loan Bank | 5.25 | 12/11/20 | 184 | ||||||||||||
371 | Freddie Mac | 1.63 | 4/15/13 | 377 | ||||||||||||
402 | Freddie Mac | 2.88 | 2/9/15 | 419 | ||||||||||||
372 | Freddie Mac | 4.13 | 9/27/13 | 403 | ||||||||||||
448 | Freddie Mac | 5.25 | 4/18/16 | 512 | ||||||||||||
50 | Tennessee Valley Authority | 5.38 | 4/1/56 | 54 | ||||||||||||
Total U.S. Government Agency Securities | 4,428 | |||||||||||||||
Corporate Bonds — 25.48% |
| |||||||||||||||
Mellon Capital Management Corp. — 1.55% |
| |||||||||||||||
300 | Citigroup, Inc. (Diversified Financial Services) | 2.13 | 4/30/12 | 306 | ||||||||||||
402 | General Electric Capital Corp., Series G, MTN (Diversified Financial Services) | 2.20 | 6/8/12 | 411 | ||||||||||||
504 | Goldman Sachs Group, Inc. (Diversified Financial Services) | 3.25 | 6/15/12 | 523 | ||||||||||||
399 | US Central Federal Credit Union (Diversified Financial Services) | 1.90 | 10/19/12 | 407 | ||||||||||||
Total Mellon Capital Management Corp. | 1,647 | |||||||||||||||
Seix Investment Advisors LLC — 23.93% |
| |||||||||||||||
10 | Alabama Power Co. (Electric Utilities) | 5.80 | 11/15/13 | 11 | ||||||||||||
515 | American Tower Corp. (Wireless Telecommunication Services) | 4.50 | 1/15/18 | 510 | ||||||||||||
380 | Anheuser-Busch InBev Worldwide, Inc. (Beverages) | 3.00 | 10/15/12 | 392 | ||||||||||||
180 | Anheuser-Busch InBev Worldwide, Inc. (Beverages) | 6.38 | 1/15/40 | 206 | ||||||||||||
92 | Anheuser-Busch InBev Worldwide, Inc. (Beverages) (b) | 8.20 | 1/15/39 | 125 | ||||||||||||
206 | AT&T, Inc. (Diversified Telecommunication Services) | 4.95 | 1/15/13 | 221 | ||||||||||||
117 | AT&T, Inc. (Diversified Telecommunication Services) | 5.10 | 9/15/14 | 128 | ||||||||||||
468 | AT&T, Inc. (Diversified Telecommunication Services) | 5.80 | 2/15/19 | 527 | ||||||||||||
155 | AT&T, Inc. (Diversified Telecommunication Services) | 6.45 | 6/15/34 | 164 | ||||||||||||
370 | Aviation Capital Group (Diversified Financial Services) (b) | 7.13 | 10/15/20 | 377 | ||||||||||||
320 | Baker Hughes, Inc. (Oil, Gas & Consumable Fuels) | 5.13 | 9/15/40 | 313 | ||||||||||||
136 | Becton, Dickinson & Co. (Health Care Equipment & Supplies) | 3.25 | 11/12/20 | 128 | ||||||||||||
905 | Berkshire Hathaway, Inc. (Insurance) | 3.20 | 2/11/15 | 934 | ||||||||||||
310 | CC Holdings GS V LLC (Wireless Telecommunication Services) Callable 5/1/13 @ 103.88 (b) | 7.75 | 5/1/17 | 339 | ||||||||||||
328 | Cellco Partnership/Verizon Wireless Capital LLC (Wireless Telecommunication Services) | 5.55 | 2/1/14 | 362 | ||||||||||||
154 | Centerpoint Energy Resources Corp., Series B (Oil, Gas & Consumable Fuels) | 7.88 | 4/1/13 | 174 | ||||||||||||
106 | Cisco Systems, Inc. (Communications Equipment) | 4.45 | 1/15/20 | 111 | ||||||||||||
271 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 2/22/16 | 309 | ||||||||||||
618 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 1/15/40 | 646 | ||||||||||||
136 | CME Group, Inc. (Diversified Financial Services) | 5.40 | 8/1/13 | 150 | ||||||||||||
418 | CME Group, Inc. (Diversified Financial Services) | 5.75 | 2/15/14 | 463 | ||||||||||||
105 | Comcast Corp. (Media) | 5.15 | 3/1/20 | 110 | ||||||||||||
146 | Comcast Corp. (Media) | 6.45 | 3/15/37 | 156 | ||||||||||||
155 | Continental Airlines 2010-A (Airlines) | 4.75 | 1/12/21 | 155 |
See accompanying notes to financial statements
136
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) |
| |||||||||||||||
Seix Investment Advisors LLC (continued) |
| |||||||||||||||
$ | 91 | CVS Caremark Corp. (Pharmaceuticals) | 6.60 | 3/15/19 | $ | 107 | ||||||||||
150 | Delta Air Lines 2010-2A (Airlines) | 4.95 | 5/23/19 | 151 | ||||||||||||
415 | Digital Realty Trust LP (Real Estate Investment Trusts) | 5.88 | 2/1/20 | 422 | ||||||||||||
83 | Duke Energy Carolinas LLC, Series C (Electric Utilities) | 7.00 | 11/15/18 | 102 | ||||||||||||
149 | El Paso Natural Gas Co. (Oil, Gas & Consumable Fuels) | 5.95 | 4/15/17 | 160 | ||||||||||||
220 | Enbridge Energy Partners LP (Oil, Gas & Consumable Fuels) Callable 3/15/40 @ 100.00 | 5.50 | 9/15/40 | 209 | ||||||||||||
137 | Energy Transfer Partners LP (Oil, Gas & Consumable Fuels) | 7.50 | 7/1/38 | 159 | ||||||||||||
346 | Energy Transfer Partners LP (Oil, Gas & Consumable Fuels) | 9.00 | 4/15/19 | 433 | ||||||||||||
425 | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels) | 5.25 | 1/31/20 | 442 | ||||||||||||
337 | ERAC USA Finance Co. (Specialty Retail) (b) | 5.25 | 10/1/20 | 343 | ||||||||||||
142 | ERAC USA Finance Co. (Specialty Retail) (b) | 5.60 | 5/1/15 | 155 | ||||||||||||
300 | Exelon Generation Co. LLC (Electric Utilities) | 6.20 | 10/1/17 | 336 | ||||||||||||
600 | General Electric Co. (Industrial Conglomerates) | 5.00 | 2/1/13 | 641 | ||||||||||||
180 | General Electric Co. (Industrial Conglomerates) | 5.25 | 12/6/17 | 194 | ||||||||||||
342 | Georgia Power Co. (Electric Utilities) | 6.00 | 11/1/13 | 382 | ||||||||||||
273 | GlaxoSmithKline Capital, Inc. (Pharmaceuticals) | 4.85 | 5/15/13 | 296 | ||||||||||||
417 | Healthcare Realty Trust, Inc. (Real Estate Investment Trusts) | 6.50 | 1/17/17 | 450 | ||||||||||||
540 | IBM Corp. (Computers & Peripherals) | 7.63 | 10/15/18 | 687 | ||||||||||||
429 | Jefferies Group, Inc. (Capital Markets) | 8.50 | 7/15/19 | 491 | ||||||||||||
385 | JPMorgan Chase & Co. (Diversified Financial Services) | 4.40 | 7/22/20 | 379 | ||||||||||||
575 | JPMorgan Chase & Co. (Diversified Financial Services) | 6.30 | 4/23/19 | 654 | ||||||||||||
159 | Kellogg Co. (Food & Staples Retailing) | 4.25 | 3/6/13 | 169 | ||||||||||||
639 | Lazard Group LLC (Diversified Financial Services) | 7.13 | 5/15/15 | 688 | ||||||||||||
118 | Life Technologies Corp. (Health Care Technology) Callable 10/15/20 @ 100.00 | 5.00 | 1/15/21 | 117 | ||||||||||||
261 | MassMutual Global Funding LLC (Diversified Financial Services) (b) | 2.30 | 9/28/15 | 254 | ||||||||||||
146 | MidAmerican Energy Holdings Co. (Electric Utilities) | 6.13 | 4/1/36 | 158 | ||||||||||||
444 | Morgan Stanley (Capital Markets) | 7.30 | 5/13/19 | 500 | ||||||||||||
340 | Nationwide Mutual Insurance Co. (Real Estate Investment Trusts) (b) | 9.38 | 8/15/39 | 394 | ||||||||||||
297 | NBC Universal (Media) (b) | 5.95 | 4/1/41 | 297 | ||||||||||||
544 | Newmont Mining Corp. (Metals & Mining) | 6.25 | 10/1/39 | 591 | ||||||||||||
222 | News America, Inc. (Media) | 6.15 | 3/1/37 | 231 | ||||||||||||
408 | Northern Trust Corp. (Diversified Financial Services) | 4.63 | 5/1/14 | 441 | ||||||||||||
127 | Oncor Electric Delivery Co. LLC (Electric Utilities) (b) | 5.25 | 9/30/40 | 122 | ||||||||||||
183 | Pacific Gas & Electric Co. (Electric Utilities) | 6.05 | 3/1/34 | 200 | ||||||||||||
311 | Praxair, Inc. (Industrial Conglomerates) | 4.63 | 3/30/15 | 338 | ||||||||||||
139 | Public Service Co. of Colorado, Series 17 (Electric Utilities) | 6.25 | 9/1/37 | 160 | ||||||||||||
139 | Roche Holdings, Inc. (Health Care Providers & Services) (b) | 7.00 | 3/1/39 | 175 | ||||||||||||
205 | Rockies Express Pipeline (Oil, Gas & Consumable Fuels) (b) | 6.85 | 7/15/18 | 219 | ||||||||||||
91 | Southern California Edison Co. (Electric Utilities) | 5.75 | 3/15/14 | 102 | ||||||||||||
620 | TD Ameritrade Holding Corp. (Diversified Financial Services) | 5.60 | 12/1/19 | 649 | ||||||||||||
293 | Teachers Insurance & Annuity (Insurance) (b) | 6.85 | 12/16/39 | 343 | ||||||||||||
155 | Teva Pharmaceutical Finance Co. LLC (Pharmaceuticals) | 6.15 | 2/1/36 | 175 | ||||||||||||
102 | The Kroger Co. (Food & Staples Retailing) | 5.50 | 2/1/13 | 110 | ||||||||||||
120 | The Kroger Co. (Food & Staples Retailing) | 7.50 | 1/15/14 | 138 | ||||||||||||
413 | The NASDAQ OMX Group, Inc. (Diversified Financial Services) | 5.55 | 1/15/20 | 417 | ||||||||||||
294 | TIAA Global Markets, Inc. (Diversified Financial Services) (b) | 5.13 | 10/10/12 | 315 | ||||||||||||
523 | Time Warner Cable, Inc. (Media) | 5.85 | 5/1/17 | 584 | ||||||||||||
278 | Time Warner Cable, Inc. (Media) | 8.25 | 2/14/14 | 323 | ||||||||||||
395 | Time Warner, Inc. (Media) | 4.88 | 3/15/20 | 411 | ||||||||||||
103 | Time Warner, Inc. (Media) | 6.20 | 3/15/40 | 109 |
See accompanying notes to financial statements
137
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) |
| |||||||||||||||
Seix Investment Advisors LLC (continued) |
| |||||||||||||||
$ | 210 | Toyota Motor Credit Corp., MTN (Diversified Financial Services) | 3.20 | 6/17/15 | $ | 217 | ||||||||||
228 | United Parcel Service, Inc. (Air Freight & Logistics) | 3.13 | 1/15/21 | 212 | ||||||||||||
198 | UnitedHealth Group, Inc. (Health Care Providers & Services) Callable 7/15/20 @ 100.00 | 3.88 | 10/15/20 | 189 | ||||||||||||
184 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.25 | 4/15/13 | 200 | ||||||||||||
72 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.55 | 2/15/16 | 81 | ||||||||||||
134 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.85 | 9/15/35 | 139 | ||||||||||||
775 | Wal-Mart Stores, Inc. (Food & Staples Retailing) | 6.50 | 8/15/37 | 910 | ||||||||||||
387 | Williams Partners LP (Oil, Gas & Consumable Fuels) Callable 8/15/20 @ 100.00 | 4.13 | 11/15/20 | 367 | ||||||||||||
131 | Wisconsin Power & Light Co. (Electric Utilities) | 6.38 | 8/15/37 | 151 | ||||||||||||
Total Seix Investment Advisors LLC | 25,400 | |||||||||||||||
Total Corporate Bonds | 27,047 | |||||||||||||||
U.S. Treasury Obligations — 57.45% |
| |||||||||||||||
BlackRock Financial Management, Inc. — 29.58% |
| |||||||||||||||
31,400 | U.S. Treasury Bill (c) | 0.03 | 1/13/11 | 31,399 | ||||||||||||
Total BlackRock Financial Management, Inc. | 31,399 | |||||||||||||||
Mellon Capital Management Corp. — 27.87% |
| |||||||||||||||
195 | U.S. Treasury Bond | 3.88 | 8/15/40 | 180 | ||||||||||||
270 | U.S. Treasury Bond | 4.25 | 5/15/39 | 266 | ||||||||||||
321 | U.S. Treasury Bond | 4.38 | 11/15/39 | 323 | ||||||||||||
320 | U.S. Treasury Bond | 4.38 | 5/15/40 | 322 | ||||||||||||
468 | U.S. Treasury Bond | 4.50 | 2/15/36 | 485 | ||||||||||||
295 | U.S. Treasury Bond | 4.50 | 8/15/39 | 303 | ||||||||||||
372 | U.S. Treasury Bond | 4.63 | 2/15/40 | 390 | ||||||||||||
100 | U.S. Treasury Bond | 5.38 | 2/15/31 | 117 | ||||||||||||
80 | U.S. Treasury Bond | 6.13 | 11/15/27 | 100 | ||||||||||||
193 | U.S. Treasury Bond | 6.25 | 8/15/23 | 243 | ||||||||||||
307 | U.S. Treasury Bond | 6.25 | 5/15/30 | 395 | ||||||||||||
345 | U.S. Treasury Bond | 8.00 | 11/15/21 | 488 | ||||||||||||
341 | U.S. Treasury Note | 0.38 | 8/31/12 | 340 | ||||||||||||
350 | U.S. Treasury Note | 0.38 | 9/30/12 | 349 | ||||||||||||
356 | U.S. Treasury Note | 0.38 | 10/31/12 | 355 | ||||||||||||
657 | U.S. Treasury Note | 0.50 | 11/30/12 | 656 | ||||||||||||
319 | U.S. Treasury Note | 0.63 | 6/30/12 | 320 | ||||||||||||
330 | U.S. Treasury Note | 0.63 | 7/31/12 | 331 | ||||||||||||
308 | U.S. Treasury Note | 0.75 | 5/31/12 | 309 | ||||||||||||
199 | U.S. Treasury Note | 0.75 | 8/15/13 | 199 | ||||||||||||
222 | U.S. Treasury Note | 0.75 | 9/15/13 | 221 | ||||||||||||
302 | U.S. Treasury Note | 0.88 | 1/31/12 | 304 | ||||||||||||
271 | U.S. Treasury Note | 0.88 | 2/29/12 | 273 | ||||||||||||
262 | U.S. Treasury Note | 1.00 | 3/31/12 | 264 | ||||||||||||
302 | U.S. Treasury Note | 1.00 | 4/30/12 | 304 | ||||||||||||
199 | U.S. Treasury Note | 1.00 | 7/15/13 | 200 | ||||||||||||
461 | U.S. Treasury Note | 1.13 | 1/15/12 | 465 | ||||||||||||
693 | U.S. Treasury Note | 1.13 | 12/15/12 | 700 | ||||||||||||
199 | U.S. Treasury Note | 1.13 | 6/15/13 | 201 | ||||||||||||
900 | U.S. Treasury Note | 1.25 | 9/30/15 | 873 | ||||||||||||
240 | U.S. Treasury Note | 1.25 | 10/31/15 | 232 | ||||||||||||
206 | U.S. Treasury Note | 1.38 | 2/15/12 | 208 |
See accompanying notes to financial statements
138
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
Mellon Capital Management Corp. (continued) | ||||||||||||||||
$ | 247 | U.S. Treasury Note | 1.38 | 5/15/12 | $ | 250 | ||||||||||
342 | U.S. Treasury Note | 1.38 | 9/15/12 | 347 | ||||||||||||
374 | U.S. Treasury Note | 1.38 | 10/15/12 | 379 | ||||||||||||
401 | U.S. Treasury Note | 1.38 | 11/15/12 | 407 | ||||||||||||
370 | U.S. Treasury Note | 1.38 | 1/15/13 | 376 | ||||||||||||
360 | U.S. Treasury Note | 1.38 | 2/15/13 | 365 | ||||||||||||
338 | U.S. Treasury Note | 1.38 | 3/15/13 | 343 | ||||||||||||
249 | U.S. Treasury Note | 1.38 | 5/15/13 | 253 | ||||||||||||
226 | U.S. Treasury Note | 1.50 | 7/15/12 | 230 | ||||||||||||
312 | U.S. Treasury Note | 1.75 | 8/15/12 | 318 | ||||||||||||
311 | U.S. Treasury Note | 1.75 | 4/15/13 | 318 | ||||||||||||
201 | U.S. Treasury Note | 1.75 | 3/31/14 | 205 | ||||||||||||
258 | U.S. Treasury Note | 1.75 | 7/31/15 | 257 | ||||||||||||
241 | U.S. Treasury Note | 1.88 | 6/15/12 | 246 | ||||||||||||
260 | U.S. Treasury Note | 1.88 | 6/30/15 | 261 | ||||||||||||
239 | U.S. Treasury Note | 1.88 | 8/31/17 | 228 | ||||||||||||
239 | U.S. Treasury Note | 1.88 | 9/30/17 | 228 | ||||||||||||
238 | U.S. Treasury Note | 1.88 | 10/31/17 | 226 | ||||||||||||
279 | U.S. Treasury Note | 2.13 | 11/30/14 | 286 | ||||||||||||
276 | U.S. Treasury Note | 2.13 | 5/31/15 | 280 | ||||||||||||
189 | U.S. Treasury Note | 2.25 | 5/31/14 | 196 | ||||||||||||
264 | U.S. Treasury Note | 2.25 | 1/31/15 | 271 | ||||||||||||
240 | U.S. Treasury Note | 2.25 | 11/30/17 | 233 | ||||||||||||
265 | U.S. Treasury Note | 2.38 | 8/31/14 | 275 | ||||||||||||
267 | U.S. Treasury Note | 2.38 | 9/30/14 | 277 | ||||||||||||
266 | U.S. Treasury Note | 2.38 | 10/31/14 | 275 | ||||||||||||
282 | U.S. Treasury Note | 2.38 | 2/28/15 | 291 | ||||||||||||
242 | U.S. Treasury Note | 2.38 | 7/31/17 | 239 | ||||||||||||
276 | U.S. Treasury Note | 2.50 | 3/31/15 | 286 | ||||||||||||
282 | U.S. Treasury Note | 2.50 | 4/30/15 | 292 | ||||||||||||
248 | U.S. Treasury Note | 2.50 | 6/30/17 | 247 | ||||||||||||
225 | U.S. Treasury Note | 2.63 | 6/30/14 | 235 | ||||||||||||
252 | U.S. Treasury Note | 2.63 | 7/31/14 | 264 | ||||||||||||
270 | U.S. Treasury Note | 2.63 | 12/31/14 | 282 | ||||||||||||
628 | U.S. Treasury Note | 2.63 | 8/15/20 | 595 | ||||||||||||
228 | U.S. Treasury Note | 2.75 | 11/30/16 | 233 | ||||||||||||
240 | U.S. Treasury Note | 2.75 | 5/31/17 | 243 | ||||||||||||
372 | U.S. Treasury Note | 2.75 | 2/15/19 | 367 | ||||||||||||
207 | U.S. Treasury Note | 3.00 | 8/31/16 | 215 | ||||||||||||
216 | U.S. Treasury Note | 3.00 | 9/30/16 | 224 | ||||||||||||
231 | U.S. Treasury Note | 3.00 | 2/28/17 | 238 | ||||||||||||
561 | U.S. Treasury Note | 3.13 | 10/31/16 | 585 | ||||||||||||
243 | U.S. Treasury Note | 3.13 | 1/31/17 | 252 | ||||||||||||
245 | U.S. Treasury Note | 3.13 | 4/30/17 | 254 | ||||||||||||
414 | U.S. Treasury Note | 3.13 | 5/15/19 | 418 | ||||||||||||
183 | U.S. Treasury Note | 3.25 | 7/31/16 | 193 | ||||||||||||
235 | U.S. Treasury Note | 3.25 | 12/31/16 | 246 | ||||||||||||
235 | U.S. Treasury Note | 3.25 | 3/31/17 | 245 | ||||||||||||
455 | U.S. Treasury Note | 3.38 | 11/15/19 | 464 | ||||||||||||
257 | U.S. Treasury Note | 3.50 | 2/15/18 | 270 |
See accompanying notes to financial statements
139
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
Mellon Capital Management Corp. (continued) | ||||||||||||||||
$ | 451 | U.S. Treasury Note | 3.50 | 5/15/20 | $ | 462 | ||||||||||
431 | U.S. Treasury Note | 3.63 | 8/15/19 | 450 | ||||||||||||
458 | U.S. Treasury Note | 3.63 | 2/15/20 | 475 | ||||||||||||
350 | U.S. Treasury Note | 3.75 | 11/15/18 | 372 | ||||||||||||
212 | U.S. Treasury Note | 3.88 | 5/15/18 | 228 | ||||||||||||
185 | U.S. Treasury Note | 4.00 | 2/15/14 | 202 | ||||||||||||
207 | U.S. Treasury Note | 4.00 | 2/15/15 | 227 | ||||||||||||
226 | U.S. Treasury Note | 4.00 | 8/15/18 | 245 | ||||||||||||
183 | U.S. Treasury Note | 4.13 | 5/15/15 | 202 | ||||||||||||
691 | U.S. Treasury Note | 4.25 | 8/15/13 | 752 | ||||||||||||
191 | U.S. Treasury Note | 4.25 | 8/15/15 | 211 | ||||||||||||
129 | U.S. Treasury Note | 4.25 | 11/15/17 | 142 | ||||||||||||
183 | U.S. Treasury Note | 4.38 | 8/15/12 | 195 | ||||||||||||
174 | U.S. Treasury Note | 4.75 | 8/15/17 | 197 | ||||||||||||
Total Mellon Capital Management Corp. | 29,584 | |||||||||||||||
Total U.S. Treasury Obligations | 60,983 | |||||||||||||||
Yankee Dollars — 6.71% |
| |||||||||||||||
Seix Investment Advisors LLC — 6.71% |
| |||||||||||||||
187 | Allied World Assurance Co. Ltd. (Insurance) | 5.50 | 11/15/20 | 180 | ||||||||||||
272 | Bank of Nova Scotia (Commercial Banks) | 2.38 | 12/17/13 | 280 | ||||||||||||
317 | Bank of Nova Scotia (Commercial Banks) | 3.40 | 1/22/15 | 329 | ||||||||||||
255 | Barrick (PD) Australia Finance Pty Ltd. (Metals & Mining) | 5.95 | 10/15/39 | 270 | ||||||||||||
122 | Barrick Gold Corp. (Metals & Mining) | 6.95 | 4/1/19 | 150 | ||||||||||||
207 | Barrick International (Barbados) Corp. (Metals & Mining) (b) | 6.35 | 10/15/36 | 224 | ||||||||||||
42 | Covidien International Finance SA (Health Care Equipment & Supplies) | 6.00 | 10/15/17 | 48 | ||||||||||||
384 | Credit Suisse New York (Commercial Banks) | 5.30 | 8/13/19 | 406 | ||||||||||||
36 | Diageo Capital PLC (Beverages) | 5.20 | 1/30/13 | 39 | ||||||||||||
615 | E.ON International Finance BV (Electric Utilities) (b) | 5.80 | 4/30/18 | 695 | ||||||||||||
334 | HSBC Bank PLC (Commercial Banks) (b) | 3.50 | 6/28/15 | 342 | ||||||||||||
600 | Royal Bank of Canada, MTN (Commercial Banks) | 2.10 | 7/29/13 | 612 | ||||||||||||
442 | Shell International Finance BV (Energy Equipment & Services) | 5.50 | 3/25/40 | 473 | ||||||||||||
162 | Shell International Finance BV (Energy Equipment & Services) | 6.38 | 12/15/38 | 192 | ||||||||||||
166 | Siemens Financieringsmaatschappij NV (Industrial Conglomerates) (b) | 6.13 | 8/17/26 | 187 | ||||||||||||
250 | Tesco PLC (Food & Staples Retailing) (b) | 5.50 | 11/15/17 | 279 | ||||||||||||
239 | Teva Pharmaceutical Finance II/III LLC (Pharmaceuticals) | 3.00 | 6/15/15 | 243 | ||||||||||||
210 | Total Capital SA (Oil, Gas & Consumable Fuels) | 3.00 | 6/24/15 | 214 | ||||||||||||
350 | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | 6.10 | 6/1/40 | 385 | ||||||||||||
226 | Veolia Environnement (Multi-Utilities) | 6.00 | 6/1/18 | 253 | ||||||||||||
101 | Weatherford Bermuda Holdings Ltd. (Energy Equipment & Services) | 9.63 | 3/1/19 | 130 | ||||||||||||
179 | Weatherford International Ltd. (Energy Equipment & Services) | 6.50 | 8/1/36 | 183 | ||||||||||||
210 | Wesfarmers Ltd. (b) (Industrial Conglomerates) | 7.00 | 4/10/13 | 232 | ||||||||||||
623 | Woodside Finance Ltd. (Diversified Financial Services) (b) | 8.75 | 3/1/19 | 775 | ||||||||||||
Total Yankee Dollars | 7,121 | |||||||||||||||
Time Deposits — 2.99% |
| |||||||||||||||
BlackRock Financial Management, Inc. — 1.04% |
| |||||||||||||||
56 | State Street Liquidity Management Control System Time Deposit | 0.01 | 1/3/11 | 56 | ||||||||||||
1,053 | State Street Liquidity Management Control System Time Deposit | 0.01 | 1/3/11 | 1,053 | ||||||||||||
Total BlackRock Financial Management, Inc. | 1,109 | |||||||||||||||
See accompanying notes to financial statements
140
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Time Deposits (continued) |
| |||||||||||||||
Mellon Capital Management Corp. — 0.12% | ||||||||||||||||
$ | 125 | State Street Liquidity Management Control System Time Deposit | 0.01 | 1/3/11 | $ | 125 | ||||||||||
Seix Investment Advisors LLC — 1.83% | ||||||||||||||||
1,943 | State Street Liquidity Management Control System Time Deposit | 0.01 | 1/3/11 | 1,943 | ||||||||||||
Total Time Deposits | 3,177 | |||||||||||||||
Total Investments Before TBA Sale Commitments (cost $136,384) — 128.24% | 136,132 | |||||||||||||||
TBA Sale Commitments (see summary below) — (1.93)% | (2,047 | ) | ||||||||||||||
Liabilities in excess of other assets — (26.31)% | (27,929 | ) | ||||||||||||||
Net Assets — 100.00% | $ | 106,156 | ||||||||||||||
TBA Sale Commitments (d) — (1.93)% | ||||||||||||||||
BlackRock Financial Management, Inc. — (1.93)% | ||||||||||||||||
$ | (2,000 | ) | Fannie Mae, 30 YR TBA | 4.50 | 2/25/41 | $ | (2,047 | ) | ||||||||
Total TBA Sale Commitments | $ | (2,047 | ) | |||||||||||||
(a) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2010. |
(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) | Rate disclosed represents effective yield at purchase. |
(d) | Represents a “to-be-announced” transaction. The Portfolio has committed to purchasing (selling) securities for which all specific information is not available at this time. (See Note 2 in Notes to Financial Statements). |
MTN — Medium Term Note
TBA — Security is subject to delayed delivery.
Currency Contracts
BlackRock Financial Management, Inc.
Contract | Currency | Counterparty | Settlement Date | Settlement Value (000) | Value on 12/31/2010 (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||
Currencies Purchased | ||||||||||||||||||||||||
857,000 | Euro | Citibank | 1/28/11 | $ | 1,122 | $ | 1,145 | $ | 23 | |||||||||||||||
Total Currencies Purchased | $ | 1,122 | $ | 1,145 | $ | 23 | ||||||||||||||||||
Currencies Sold | ||||||||||||||||||||||||
857,000 | Euro | Citibank | 1/28/11 | $ | 1,164 | $ | 1,145 | $ | 19 | |||||||||||||||
Total Currencies Sold |
| $ | 1,164 | $ | 1,145 | $ | 19 | |||||||||||||||||
Net Unrealized Appreciation/(Depreciation) |
| $ | 42 | |||||||||||||||||||||
See accompanying notes to financial statements
141
Table of Contents
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds — 79.86% |
| |||||||||||||||
$ | 431 | Accellent, Inc. (Health Care Equipment & Supplies) Callable 2/1/13 @ 106.28 | 8.38 | 2/1/17 | $ | 442 | ||||||||||
395 | ACCO Brands Corp. (Commercial Services & Supplies) Callable 9/15/12 @ 105.31 | 10.63 | 3/15/15 | 444 | ||||||||||||
670 | Accuride Corp. (Auto Components) Callable 8/1/14 @ 104.75 (a) | 9.50 | 8/1/18 | 725 | ||||||||||||
990 | Advanced Micro Devices, Inc. (Semiconductors & Semiconductor Equipment) Callable 8/1/15 @ 103.88 (a) | 7.75 | 8/1/20 | 1,027 | ||||||||||||
860 | AES Ironwood LLC (Diversified Financial Services) | 8.86 | 11/30/25 | 855 | ||||||||||||
555 | Affinia Group, Inc. (Auto Components) Callable 8/15/12 @ 108.06 (a) | 10.75 | 8/15/16 | 616 | ||||||||||||
2,075 | Affinion Group Holdings, Inc. (Media) Callable 11/15/12 @ 108.72 (a) | 11.63 | 11/15/15 | 2,153 | ||||||||||||
2,170 | Affinion Group, Inc. (Media) Callable 12/15/14 @ 103.94 (a) | 7.88 | 12/15/18 | 2,116 | ||||||||||||
1,665 | Affinion Group, Inc. (Media) Callable 2/10/11 @ 105.75 | 11.50 | 10/15/15 | 1,732 | ||||||||||||
995 | Ally Financial, Inc. (Diversified Financial Services) (a) | 6.25 | 12/1/17 | 995 | ||||||||||||
545 | Ally Financial, Inc. (Diversified Financial Services) | 8.00 | 3/15/20 | 595 | ||||||||||||
915 | Ally Financial, Inc. (Diversified Financial Services) | 8.30 | 2/12/15 | 1,006 | ||||||||||||
270 | Alta Mesa Holdings LP/Finance (Oil, Gas & Consumable Fuels) Callable 10/15/14 @ 104.81 (a) | 9.63 | 10/15/18 | 262 | ||||||||||||
655 | AMC Entertainment Holdings, Inc. (Media) Callable 12/1/15 @ 104.88 (a) | 9.75 | 12/1/20 | 681 | ||||||||||||
3,100 | American General Finance Corp., MTN (Consumer Finance) | 5.75 | 9/15/16 | 2,402 | ||||||||||||
390 | American General Finance Corp., Series H, MTN (Consumer Finance) | 5.38 | 10/1/12 | 369 | ||||||||||||
1,075 | American General Finance Corp., Series I, MTN (Consumer Finance) | 5.40 | 12/1/15 | 848 | ||||||||||||
200 | American General Finance Corp., Series J, MTN (Consumer Finance) | 6.90 | 12/15/17 | 162 | ||||||||||||
600 | American General Institutional Capital, Series B (Insurance) (a) | 8.13 | 3/15/46 | 607 | ||||||||||||
2,225 | American International Group, Inc. (Insurance) Callable 5/15/38 @ 100.00 (b) | 8.18 | 5/15/58 | 2,369 | ||||||||||||
895 | American Petroleum Tankers LLC (Oil, Gas & Consumable Fuels) Callable 5/1/12 @ 105.13 (a) | 10.25 | 5/1/15 | 926 | ||||||||||||
390 | American Renal Holdings, Inc. (Health Care Providers & Services) Callable 5/15/13 @ 104.19 (a) | 8.38 | 5/15/18 | 400 | ||||||||||||
1,135 | Ameristar Casinos, Inc. (Hotels, Restaurants & Leisure) Callable 12/1/11 @ 104.63 | 9.25 | 6/1/14 | 1,214 | ||||||||||||
560 | AMGH Merger Sub, Inc. (Transportation Infrastructure) Callable 11/1/14 @ 104.63 (a) | 9.25 | 11/1/18 | 588 | ||||||||||||
610 | Amsted Industries, Inc. (Multi-Utilities) Callable 3/15/14 @ 104.06 (a) | 8.13 | 3/15/18 | 647 | ||||||||||||
1,490 | Antero Resources Finance Corp. (Energy Equipment & Services) Callable 12/1/13 @ 104.69 | 9.38 | 12/1/17 | 1,559 | ||||||||||||
1,500 | Apria Healthcare Group, Inc., Series A1 (Health Care Providers & Services) Callable 11/1/11 @ 105.62 | 11.25 | 11/1/14 | 1,639 | ||||||||||||
945 | Aquilex Holdings LLC/Aquilex Finance Corp. (Energy Equipment & Services) Callable 12/15/13 @ 105.56 | 11.13 | 12/15/16 | 957 | ||||||||||||
885 | Arch Coal, Inc. (Oil, Gas & Consumable Fuels) Callable 8/1/13 @ 104.38 | 8.75 | 8/1/16 | 965 | ||||||||||||
1,890 | Aspect Software, Inc. (Software) Callable 5/15/14 @ 105.31 (a) | 10.63 | 5/15/17 | 1,940 | ||||||||||||
725 | Associated Materials LLC (Building Products) Callable 11/1/13 @ 106.84 (a) | 9.13 | 11/1/17 | 758 | ||||||||||||
1,725 | Atlas Pipeline Partners LP (Oil, Gas & Consumable Fuels) Callable 6/15/13 @ 104.38 | 8.75 | 6/15/18 | 1,803 | ||||||||||||
4,225 | Aurora Diagnostics Holdings LLC (Health Care Providers & Services) Callable 1/15/15 @ 105.38 (a) | 10.75 | 1/15/18 | 4,236 | ||||||||||||
1,955 | Avaya, Inc. (Communications Equipment) Callable 11/1/11 @ 104.88 | 9.75 | 11/1/15 | 1,989 | ||||||||||||
1,365 | Avis Budget Car Rental LLC/Avis Budget Finance, Inc. (Commercial Services & Supplies) Callable 10/15/14 @ 104.13 (a) | 8.25 | 1/15/19 | 1,379 | ||||||||||||
885 | Avis Budget Car Rental LLC/Avis Budget Finance, Inc. (Commercial Services & Supplies) Callable 3/15/14 @ 104.81 | 9.63 | 3/15/18 | 954 | ||||||||||||
910 | Axcan Intermediate Holdings, Inc. (Pharmaceuticals) Callable 3/1/11 @ 106.94 | 9.25 | 3/1/15 | 942 | ||||||||||||
975 | Ball Corp. (Containers & Packaging) Callable 11/15/15 @ 102.88 | 5.75 | 5/15/21 | 943 | ||||||||||||
3,405 | Bank of America Corp. (Diversified Financial Services) Callable 1/30/18 @ 100.00 (b) | 8.00 | 12/29/49 | 3,432 | ||||||||||||
620 | BE Aerospace, Inc. (Aerospace & Defense) Callable 10/1/15 @ 103.44 | 6.88 | 10/1/20 | 640 | ||||||||||||
780 | Biomet, Inc. (Electronic Equipment, Instruments & Components) Callable 10/15/12 @ 105.00 | 10.00 | 10/15/17 | 852 | ||||||||||||
900 | Block Communications, Inc. (Media) Callable 2/7/11 @ 104.13 (a) | 8.25 | 12/15/15 | 907 |
See accompanying notes to financial statements
142
Table of Contents
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 890 | Boise Paper Holdings, Inc. (Paper & Forest Products) Callable 11/1/13 @ 104.50 | 9.00 | 11/1/17 | $ | 972 | ||||||||||
640 | Boyd Gaming Corp. (Hotels, Restaurants & Leisure) Callable 2/1/11 @ 103.56 | 7.13 | 2/1/16 | 574 | ||||||||||||
2,390 | Buccaneer Merger Sub, Inc. (Wireless Telecommunication Services) Callable 1/15/15 @ 104.56 (a) | 9.13 | 1/15/19 | 2,468 | ||||||||||||
1,315 | Bumble Bee Acquisition Corp. (Food & Staples Retailing) Callable 12/15/14 @ 104.00 (a) | 9.00 | 12/15/17 | 1,368 | ||||||||||||
825 | Cablevision Systems Corp. (Media) | 8.00 | 4/15/20 | 883 | ||||||||||||
385 | Calpine Construction Finance Co. LP (Electric Utilities) Callable 6/1/13 @ 104.00 (a) | 8.00 | 6/1/16 | 409 | ||||||||||||
430 | Calpine Corp. (Independent Power Producers & Energy Traders) Callable 10/15/13 @ 103.63 (a) | 7.25 | 10/15/17 | 430 | ||||||||||||
1,835 | Calpine Corp. (Independent Power Producers & Energy Traders) Callable 11/1/15 @ 103.75 (a) | 7.50 | 2/15/21 | 1,807 | ||||||||||||
1,300 | Calpine Corp. (Independent Power Producers & Energy Traders) Callable 7/31/15 @ 103.94 (a) | 7.88 | 7/31/20 | 1,316 | ||||||||||||
140 | Casella Waste Systems, Inc. (Commercial Services & Supplies) Callable 7/15/12 @ 105.50 | 11.00 | 7/15/14 | 155 | ||||||||||||
1,355 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media) Callable 10/30/13 @ 105.44 | 7.25 | 10/30/17 | 1,375 | ||||||||||||
1,145 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media) Callable 4/30/13 @ 105.91 | 7.88 | 4/30/18 | 1,185 | ||||||||||||
490 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media) Callable 4/30/15 @ 104.06 | 8.13 | 4/30/20 | 516 | ||||||||||||
735 | Cedar Fair LP (Hotels, Restaurants & Leisure) Callable 8/1/14 @ 104.56 (a) | 9.13 | 8/1/18 | 791 | ||||||||||||
1,000 | Cemex Finance LLC (Capital Markets) Callable 12/14/13 @ 104.75 (a) | 9.50 | 12/14/16 | 1,031 | ||||||||||||
730 | Cenveo Corp. (Paper & Forest Products) Callable 2/1/14 @ 104.44 | 8.88 | 2/1/18 | 706 | ||||||||||||
795 | Cequel Communications Holdings I LLC and Cequel Capital Corp. (Media) Callable 11/15/12 @ 106.47 (a) | 8.63 | 11/15/17 | 831 | ||||||||||||
455 | Chart Industries, Inc. (Machinery) Callable 2/10/11 @ 104.56 | 9.13 | 10/15/15 | 469 | ||||||||||||
1,665 | Checkout Holdings Corp. (Media) Callable 5/15/11 @ 64.40 (a)(c) | 10.75 | 11/15/15 | 1,039 | ||||||||||||
555 | Chemtura Corp. (Chemicals) Callable 9/1/14 @ 103.94 (a) | 7.88 | 9/1/18 | 590 | ||||||||||||
275 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 6.50 | 8/15/17 | 276 | ||||||||||||
345 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 6.88 | 11/15/20 | 349 | ||||||||||||
1,290 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 7.25 | 12/15/18 | 1,335 | ||||||||||||
935 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 7.63 | 7/15/13 | 1,013 | ||||||||||||
925 | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | 9.50 | 2/15/15 | 1,043 | ||||||||||||
625 | Cincinnati Bell, Inc. (Diversified Telecommunication Services) Callable 10/15/13 @ 104.13 | 8.25 | 10/15/17 | 619 | ||||||||||||
815 | Cincinnati Bell, Inc. (Diversified Telecommunication Services) Callable 10/15/15 @ 104.19 | 8.38 | 10/15/20 | 782 | ||||||||||||
145 | Cinemark USA, Inc. (Media) Callable 6/15/14 @ 104.31 | 8.63 | 6/15/19 | 157 | ||||||||||||
1,450 | CIT Group, Inc. (Diversified Financial Services) Callable 2/24/11 @ 102.00 | 7.00 | 5/1/13 | 1,479 | ||||||||||||
1,165 | CIT Group, Inc. (Diversified Financial Services) Callable 2/24/11 @ 102.00 | 7.00 | 5/1/14 | 1,177 | ||||||||||||
2,905 | CIT Group, Inc. (Diversified Financial Services) Callable 2/24/11 @ 102.00 | 7.00 | 5/1/15 | 2,912 | ||||||||||||
3,745 | CIT Group, Inc. (Diversified Financial Services) Callable 2/24/11 @ 102.00 | 7.00 | 5/1/16 | 3,759 | ||||||||||||
2,790 | CIT Group, Inc. (Diversified Financial Services) Callable 2/24/11 @ 102.00 | 7.00 | 5/1/17 | 2,797 | ||||||||||||
660 | Citadel Broadcasting Corp. (Media) Callable 12/15/14 @ 103.88 (a) | 7.75 | 12/15/18 | 683 | ||||||||||||
775 | Citgo Petroleum Corp. (Oil, Gas & Consumable Fuels) Callable 7/1/14 @ 105.75 (a) | 11.50 | 7/1/17 | 868 | ||||||||||||
2,355 | Citigroup Capital XXI (Diversified Financial Services) Callable 12/21/37 @ 100.00 (b) | 8.30 | 12/21/57 | 2,449 | ||||||||||||
520 | Clear Channel Worldwide Holdings, Inc., Series A (Media) Callable 12/15/12 @ 106.94 | 9.25 | 12/15/17 | 565 | ||||||||||||
1,140 | Clear Channel Worldwide Holdings, Inc., Series B (Media) Callable 12/15/12 @ 106.94 | 9.25 | 12/15/17 | 1,248 | ||||||||||||
555 | Clearwire Communications LLC (Diversified Telecommunication Services) Callable 12/1/12 @ 106.00 (a) | 12.00 | 12/1/15 | 598 | ||||||||||||
1,030 | Clearwire Communications LLC/Finance, Inc. (Wireless Telecommunication Services) Callable 12/1/14 @ 106.00 (a) | 12.00 | 12/1/17 | 1,066 | ||||||||||||
2,200 | ClubCorp Club Operations, Inc. (Hotels, Restaurants & Leisure) Callable 12/1/14 @ 105.00 (a) | 10.00 | 12/1/18 | 2,090 | ||||||||||||
1,410 | CNO Financial Group, Inc. (Diversified Financial Services) Callable 1/15/14 @ 106.75 (a) | 9.00 | 1/15/18 | 1,466 | ||||||||||||
3,485 | Coffeyville Resources LLC (Oil, Gas & Consumable Fuels) Callable 4/1/13 @ 108.16 (a) | 10.88 | 4/1/17 | 3,746 | ||||||||||||
840 | Compass Minerals International, Inc. (Metals & Mining) Callable 6/1/14 @ 104.00 | 8.00 | 6/1/19 | 916 | ||||||||||||
1,345 | Concho Resources, Inc. (Oil, Gas & Consumable Fuels) Callable 1/15/16 @ 103.50 | 7.00 | 1/15/21 | 1,379 | ||||||||||||
1,195 | Cooper-Standard Automotive (Auto Components) Callable 5/1/14 @ 104.25 (a) | 8.50 | 5/1/18 | 1,267 |
See accompanying notes to financial statements
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The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 665 | Copano Energy LLC (Oil, Gas & Consumable Fuels) Callable 6/1/13 @ 103.88 | 7.75 | 6/1/18 | $ | 678 | ||||||||||
665 | Copano Energy LLC (Oil, Gas & Consumable Fuels) Callable 3/1/11 @ 104.06 | 8.13 | 3/1/16 | 685 | ||||||||||||
350 | Cott Beverages USA, Inc. (Beverages) callable 9/1/14 @ 104.06 | 8.13 | 9/1/18 | 377 | ||||||||||||
1,375 | Covanta Holding Corp. (Commercial Services & Supplies) Callable 12/1/15 @ 103.63 | 7.25 | 12/1/20 | 1,394 | ||||||||||||
585 | Cricket Communications, Inc. (Wireless Telecommunication Services) Callable 5/5/12 @ 105.81 | 7.75 | 5/15/16 | 607 | ||||||||||||
670 | Cricket Communications, Inc. (Wireless Telecommunication Services) Callable 10/15/15 @ 103.88 (a) | 7.75 | 10/15/20 | 638 | ||||||||||||
780 | Crum & Forster Holding Corp. (Insurance) Callable 5/1/12 @ 103.88 | 7.75 | 5/1/17 | 811 | ||||||||||||
725 | Darling International, Inc. (Commercial Services & Supplies) Callable 12/15/14 @ 104.25 (a) | 8.50 | 12/15/18 | 756 | ||||||||||||
1,340 | Dean Foods Co. (Food Products) | 7.00 | 6/1/16 | 1,229 | ||||||||||||
377 | Delta Air Lines, Inc. (Airlines) | 8.95 | 8/10/14 | 390 | ||||||||||||
406 | Delta Air Lines, Inc. (Airlines) Callable 9/15/11 @ 107.12 (a) | 9.50 | 9/15/14 | 442 | ||||||||||||
2,340 | Diamond Resorts Corp. (Hotels, Restaurants & Leisure) Callable 8/15/14 @ 106.00 (a) | 12.00 | 8/15/18 | 2,340 | ||||||||||||
935 | DigitalGlobe, Inc. (Aerospace & Defense) Callable 5/1/12 @ 105.25 | 10.50 | 5/1/14 | 1,067 | ||||||||||||
1,490 | DISH DBS Corp. (Media) | 7.88 | 9/1/19 | 1,557 | ||||||||||||
1,235 | DuPont Fabros Technology LP (Real Estate Investment Trusts) Callable 12/15/13 @ 104.25 | 8.50 | 12/15/17 | 1,321 | ||||||||||||
2,130 | Dynegy Holdings, Inc. (Independent Power Producers & Energy Traders) | 7.50 | 6/1/15 | 1,608 | ||||||||||||
1,077 | Dynegy Holdings, Inc. (Independent Power Producers & Energy Traders) | 7.75 | 6/1/19 | 719 | ||||||||||||
420 | Echostar DBS Corp. (Media) | 7.13 | 2/1/16 | 434 | ||||||||||||
695 | EchoStar DBS Corp. (Media) | 7.75 | 5/31/15 | 738 | ||||||||||||
985 | Edison Mission Energy (Electric Utilities) | 7.00 | 5/15/17 | 781 | ||||||||||||
1,805 | Edison Mission Energy (Electric Utilities) | 7.20 | 5/15/19 | 1,394 | ||||||||||||
140 | Edison Mission Energy (Electric Utilities) | 7.50 | 6/15/13 | 137 | ||||||||||||
880 | Edison Mission Energy (Electric Utilities) | 7.75 | 6/15/16 | 757 | ||||||||||||
810 | El Paso Corp. (Oil, Gas & Consumable Fuels) | 7.00 | 6/15/17 | 855 | ||||||||||||
2,760 | El Paso Corp., Series G, MTN (Oil, Gas & Consumable Fuels) | 7.75 | 1/15/32 | 2,745 | ||||||||||||
340 | El Paso Corp., Series G, MTN (Oil, Gas & Consumable Fuels) | 7.80 | 8/1/31 | 338 | ||||||||||||
275 | El Paso Corp., Series G, MTN (Oil, Gas & Consumable Fuels) | 8.05 | 10/15/30 | 279 | ||||||||||||
140 | El Paso Natural Gas Co. (Oil, Gas & Consumable Fuels) | 7.25 | 6/1/18 | 150 | ||||||||||||
135 | El Paso Natural Gas Co. (Oil, Gas & Consumable Fuels) | 8.63 | 1/15/22 | 164 | ||||||||||||
3,185 | Endo Pharmaceutical Holdings, Inc. (Pharmaceuticals) Callable 12/15/15 @ 103.50 (a) | 7.00 | 12/15/20 | 3,249 | ||||||||||||
1,245 | Energy Future Holdings Corp. (Electric Utilities) Callable 1/15/15 @ 105.00 (a) | 10.00 | 1/15/20 | 1,281 | ||||||||||||
495 | EnergySolutions, Inc./EnergySolutions LLC (Commercial Services & Supplies) Callable 8/15/14 @ 105.38 (a) | 10.75 | 8/15/18 | 540 | ||||||||||||
280 | Enterprise Products Operation LP (Commercial Banks) Callable 1/15/18 @ 100.00 (b) | 7.03 | 1/15/68 | 291 | ||||||||||||
565 | Entravision Communications Corp. (Media) Callable 8/1/13 @ 106.56 (a) | 8.75 | 8/1/17 | 596 | ||||||||||||
350 | Esterline Technologies Corp. (Aerospace & Defense) Callable 8/1/15 @ 103.50 (a) | 7.00 | 8/1/20 | 361 | ||||||||||||
1,405 | Ferrellgas Partners LP (Gas Utilities) Callable 5/1/16 @ 103.25 (a) | 6.50 | 5/1/21 | 1,370 | ||||||||||||
575 | Ferrellgas Partners LP (Gas Utilities) Callable 10/1/13 @ 104.56 | 9.13 | 10/1/17 | 632 | ||||||||||||
995 | FireKeepers Development Authority (Diversified Financial Services) Callable 5/1/12 @ 110.50 (a) | 13.88 | 5/1/15 | 1,177 | ||||||||||||
675 | Ford Motor Co. (Automobiles) (b) | 3.03 | 12/15/13 | 674 | ||||||||||||
350 | Ford Motor Credit Co. LLC (Consumer Finance) | 8.13 | 1/15/20 | 407 | ||||||||||||
3,580 | Ford Motor Credit Co. LLC (Consumer Finance) | 8.70 | 10/1/14 | 4,032 | ||||||||||||
365 | Forest Oil Corp. (Oil, Gas & Consumable Fuels) Callable 6/15/12 @ 103.63 | 7.25 | 6/15/19 | 370 | ||||||||||||
2,385 | Freescale Semiconductor, Inc. (Semiconductors & Semiconductor Equipment) Callable 4/15/14 @ 104.63 (a) | 9.25 | 4/15/18 | 2,623 | ||||||||||||
915 | Frontier Communications Corp. (Diversified Telecommunication Services) | 7.88 | 4/15/15 | 1,000 | ||||||||||||
1,490 | Frontier Communications Corp. (Diversified Telecommunication Services) | 8.25 | 4/15/17 | 1,635 | ||||||||||||
665 | Genesis Energy LP (Oil, Gas & Consumable Fuels) Callable 12/15/14 @ 103.94 (a) | 7.88 | 12/15/18 | 662 |
See accompanying notes to financial statements
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The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 4,525 | GenOn Energy, Inc. (Independent Power Producers & Energy Traders) (a) | 9.50 | 10/15/18 | $ | 4,497 | ||||||||||
4,545 | GenOn Energy, Inc. (Independent Power Producers & Energy Traders) Callable 10/15/15 @ 104.94 (a) | 9.88 | 10/15/20 | 4,511 | ||||||||||||
615 | Gentiva Health Services, Inc. (Health Care Providers & Services) Callable 9/1/14 @ 105.75 | 11.50 | 9/1/18 | 670 | ||||||||||||
730 | Genworth Financial, Inc. (Insurance) Callable 11/15/16 @ 100.00 (b) | 6.15 | 11/15/66 | 575 | ||||||||||||
525 | GeoEye, Inc. (Aerospace & Defense) Callable 10/1/13 @ 104.31 | 8.63 | 10/1/16 | 549 | ||||||||||||
920 | GeoEye, Inc. (Aerospace & Defense) Callable 10/1/13 @ 104.81 | 9.63 | 10/1/15 | 1,040 | ||||||||||||
1,520 | Geokinetics Holdings, Inc. (Energy Equipment & Services) Callable 12/15/11 @ 104.88 | 9.75 | 12/15/14 | 1,459 | ||||||||||||
1,080 | Georgia Gulf Corp. (Chemicals) Callable 1/15/14 @ 104.50 (a) | 9.00 | 1/15/17 | 1,172 | ||||||||||||
7,035 | GMAC, Inc. (Consumer Finance) | 8.00 | 11/1/31 | 7,580 | ||||||||||||
1,445 | Hartford Financial Services Group (Insurance) Callable 6/15/18 @ 100.00 (b) | 8.13 | 6/15/38 | 1,535 | ||||||||||||
1,150 | HCA, Inc. (Health Care Providers & Services) Callable 2/15/13 @ 104.94 | 9.88 | 2/15/17 | 1,265 | ||||||||||||
635 | Hertz Corp. (Road & Rail) Callable 10/15/14 @ 103.75 (a) | 7.50 | 10/15/18 | 659 | ||||||||||||
1,530 | Hertz Corp. (Road & Rail) Callable 2/10/11 @ 102.22 | 8.88 | 1/1/14 | 1,564 | ||||||||||||
1,805 | Hexion U.S. Finance Corp./Hexion Nova Scotia Finance ULC (Chemicals) Callable 2/1/14 @ 104.44 | 8.88 | 2/1/18 | 1,929 | ||||||||||||
1,485 | Hexion U.S. Finance Corp./Hexion Nova Scotia Finance ULC (Chemicals) Callable 11/15/15 @ 104.50 (a) | 9.00 | 11/15/20 | 1,570 | ||||||||||||
202 | Host Hotels & Resorts LP (Hotels, Restaurants & Leisure) Callable 2/10/11 @ 101.19 | 7.13 | 11/1/13 | 205 | ||||||||||||
405 | Host Hotels & Resorts LP (Hotels, Restaurants & Leisure) Callable 5/15/13 @ 104.50 | 9.00 | 5/15/17 | 450 | ||||||||||||
635 | Hughes Network Systems LLC/HNS Finance Corp. (Wireless Telecommunication Services) Callable 4/15/11 @ 102.38 | 9.50 | 4/15/14 | 655 | ||||||||||||
690 | Huntsman International LLC (Chemicals) Callable 2/7/11 @ 100.00 | 5.50 | 6/30/16 | 668 | ||||||||||||
430 | Huntsman International LLC (Chemicals) Callable 3/15/15 @ 104.31 | 8.63 | 3/15/20 | 468 | ||||||||||||
260 | Huntsman International LLC (Chemicals) Callable 9/15/15 @ 104.31 (a) | 8.63 | 3/15/21 | 281 | ||||||||||||
2,215 | Icahn Enterprises LP/Icahn Enterprises Finance Corp. (Industrial Conglomerates) Callable 1/15/14 @ 104.00 | 8.00 | 1/15/18 | 2,215 | ||||||||||||
1,200 | Icahn Enterprises LP/Icahn Enterprises Finance Corp. (Industrial Conglomerates) Callable 1/15/14 @ 104.00 (a) | 8.00 | 1/15/18 | 1,194 | ||||||||||||
1,000 | ILFC E-Capital Trust I (Diversified Consumer Services) Callable 2/7/11 @ 100.00 (a)(b) | 5.90 | 12/21/65 | 757 | ||||||||||||
500 | ILFC E-Capital Trust ll (Diversified Consumer Services) (a)(b) | 6.25 | 12/21/65 | 390 | ||||||||||||
970 | ING Capital Funding Trust III (Insurance) Callable 3/31/11 @ 100.00 (b) | 8.44 | 12/29/49 | 895 | ||||||||||||
930 | Insight Communications Co., Inc. (Media) Callable 7/15/13 @ 107.03 (a) | 9.38 | 7/15/18 | 990 | ||||||||||||
770 | Integra Telecom (Diversified Telecommunication Services) Callable 4/15/13 @ 105.38 (a) | 10.75 | 4/15/16 | 797 | ||||||||||||
540 | Interface, Inc. (Specialty Retail) Callable 12/1/14 @ 103.81 (a) | 7.63 | 12/1/18 | 558 | ||||||||||||
2,225 | International Lease Finance Corp. (Diversified Financial Services) | 8.25 | 12/15/20 | 2,292 | ||||||||||||
1,010 | International Lease Finance Corp. (Diversified Financial Services) (a) | 8.63 | 9/15/15 | 1,086 | ||||||||||||
1,285 | International Lease Finance Corp. (Diversified Financial Services) (a) | 8.75 | 3/15/17 | 1,378 | ||||||||||||
430 | International Lease Finance Corp., Series R, MTN (Diversified Financial Services) | 6.63 | 11/15/13 | 439 | ||||||||||||
750 | Jabil Circuit, Inc. (Electronic Equipment, Instruments & Components) | 8.25 | 3/15/18 | 849 | ||||||||||||
1,000 | Jarden Corp. (Diversified Consumer Services) Callable 1/15/15 @ 103.75 | 7.50 | 1/15/20 | 1,042 | ||||||||||||
865 | KB Home (Household Durables) | 9.10 | 9/15/17 | 917 | ||||||||||||
229 | Koppers, Inc. (Chemicals) Callable 12/1/14 @ 103.94 | 7.88 | 12/1/19 | 246 | ||||||||||||
1,295 | Kratos Defense & Security Solutions, Inc. (Aerospace & Defense) Callable 6/1/14 @ 105.00 | 10.00 | 6/1/17 | 1,434 | ||||||||||||
720 | Lantheus Medical Imaging, Inc. (Pharmaceuticals) Callable 5/15/14 @ 104.88 (a) | 9.75 | 5/15/17 | 752 | ||||||||||||
1,889 | LBI Escrow Corp. (Diversified Financial Services) Callable 5/1/13 @ 106.00 (a) | 8.00 | 11/1/17 | 2,090 | ||||||||||||
285 | Lear Corp. (Auto Components) Callable 3/15/14 @ 103.94 | 7.88 | 3/15/18 | 305 | ||||||||||||
285 | Lear Corp. (Auto Components) Callable 3/15/15 @ 104.06 | 8.13 | 3/15/20 | 310 | ||||||||||||
1,830 | Level 3 Financing, Inc. (Diversified Telecommunication Services) Callable 2/10/11 @ 101.00 (b) | 4.34 | 2/15/15 | 1,583 | ||||||||||||
1,880 | Level 3 Financing, Inc. (Diversified Telecommunication Services) Callable 2/15/12 @ 104.38 | 8.75 | 2/15/17 | 1,730 |
See accompanying notes to financial statements
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The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 430 | Level 3 Financing, Inc. (Diversified Telecommunication Services) Callable 2/24/11 @ 104.63 | 9.25 | 11/1/14 | $ | 427 | ||||||||||
615 | Liberty Mutual Group, Inc. (Insurance) Callable 3/15/17 @ 100.00 (a)(b) | 7.00 | 3/15/37 | 552 | ||||||||||||
600 | Liberty Mutual Group, Inc. (Insurance) (a) | 7.80 | 3/15/37 | 591 | ||||||||||||
645 | Liberty Mutual Group, Inc. (Insurance) Callable 6/15/38 @ 100.00 (a)(b) | 10.75 | 6/15/58 | 780 | ||||||||||||
570 | Limited Brands, Inc. (Specialty Retail) | 7.00 | 5/1/20 | 601 | ||||||||||||
280 | Lincoln National Corp. (Insurance) Callable 4/20/17 @ 100.00 (b) | 6.05 | 4/20/67 | 258 | ||||||||||||
675 | Lincoln National Corp. (Insurance) Callable 5/17/16 @ 100.00 (b) | 7.00 | 5/17/66 | 658 | ||||||||||||
845 | Linn Energy LLC (Oil, Gas & Consumable Fuels) Callable 7/1/13 @ 104.94 | 9.88 | 7/1/18 | 925 | ||||||||||||
945 | Linn Energy LLC/Linn Energy Finance Corp. (Oil, Gas & Consumable Fuels) | 8.63 | 4/15/20 | 1,018 | ||||||||||||
475 | Live Nation Entertainment, Inc. (Media) Callable 5/15/14 @ 104.06 (a) | 8.13 | 5/15/18 | 481 | ||||||||||||
2,000 | Macy’s Retail Holdings, Inc. (Multiline Retail) (d) | 8.38 | 7/15/15 | 2,340 | ||||||||||||
625 | Marina District Finance Co., Inc. (Hotels, Restaurants & Leisure) Callable 10/15/13 @ 104.75 (a) | 9.50 | 10/15/15 | 614 | ||||||||||||
770 | Marina District Finance Co., Inc. (Hotels, Restaurants & Leisure) Callable 8/15/14 @ 104.94 (a) | 9.88 | 8/15/18 | 758 | ||||||||||||
3,020 | MarkWest Energy Partners LP (Oil, Gas & Consumable Fuels) Callable 11/1/15 @ 103.38 | 6.75 | 11/1/20 | 3,020 | ||||||||||||
285 | MarkWest Energy Partners LP, Series B (Oil, Gas & Consumable Fuels) Callable 7/15/11 @ 104.25 | 8.50 | 7/15/16 | 301 | ||||||||||||
1,457 | MarkWest Energy Partners LP, Series B (Oil, Gas & Consumable Fuels) Callable 4/15/13 @ 104.38 | 8.75 | 4/15/18 | 1,577 | ||||||||||||
985 | Martin Midstream Partners & Finance (Transportation Infrastructure) Callable 4/1/14 @ 104.44 | 8.88 | 4/1/18 | 1,015 | ||||||||||||
2,405 | MBIA, Inc. (Insurance) | 5.70 | 12/1/34 | 1,575 | ||||||||||||
790 | Mcjunkin Red Man Corp. (Commercial Services & Supplies) Callable 12/15/12 @ 107.12 (a) | 9.50 | 12/15/16 | 747 | ||||||||||||
1,755 | Mediacom LLC/Mediacom Capital Corp. (Media) Callable 8/15/14 @ 104.56 | 9.13 | 8/15/19 | 1,790 | ||||||||||||
1,570 | MetroPCS Wireless, Inc. (Wireless Telecommunication Services) Callable 9/1/14 @ 103.94 | 7.88 | 9/1/18 | 1,629 | ||||||||||||
915 | MGM Resorts International (Hotels, Restaurants & Leisure) (a) | 9.00 | 3/15/20 | 1,006 | ||||||||||||
447 | Mirant Mid-Atlantic LLC, Series B (Electric Utilities) | 9.13 | 6/30/17 | 481 | ||||||||||||
2,185 | MTR Gaming Group, Inc. (Hotels, Restaurants & Leisure) Callable 7/15/11 @ 106.31 | 12.63 | 7/15/14 | 2,267 | ||||||||||||
550 | Mueller Water Products, Inc. (Machinery) Callable 9/1/15 @ 104.38 | 8.75 | 9/1/20 | 608 | ||||||||||||
950 | Navistar International Corp. (Machinery) Callable 11/1/14 @ 104.13 | 8.25 | 11/1/21 | 1,021 | ||||||||||||
1,445 | NewPage Corp. (Paper & Forest Products) Callable 3/31/12 @ 105.00 | 11.38 | 12/31/14 | 1,358 | ||||||||||||
450 | Nexstar Broadcasting, Inc./Mission Broadcasting, Inc. (Media) Callable 4/15/14 @ 104.44 (a) | 8.88 | 4/15/17 | 478 | ||||||||||||
455 | Nextel Communications, Inc., Series D (Wireless Telecommunication Services) | 7.38 | 8/1/15 | 456 | ||||||||||||
475 | Nextel Communications, Inc., Series E (Wireless Telecommunication Services) | 6.88 | 10/31/13 | 476 | ||||||||||||
910 | NII Capital Corp. (Wireless Telecommunication Services) Callable 12/15/14 @ 104.44 | 8.88 | 12/15/19 | 981 | ||||||||||||
2,305 | Niska Gas Storage US LLC/Niska Gas Storage Canada ULC (Oil, Gas & Consumable Fuels) | 8.88 | 3/15/18 | 2,466 | ||||||||||||
125 | Northern Tier Energy LLC (Independent Power Producers & Energy Traders) | 10.50 | 12/1/17 | 128 | ||||||||||||
1,145 | NRG Energy, Inc. (Independent Power Producers & Energy Traders) | 7.38 | 1/15/17 | 1,179 | ||||||||||||
1,700 | NRG Energy, Inc. (Independent Power Producers & Energy Traders) Callable 9/1/15 @ 104.13 (a) | 8.25 | 9/1/20 | 1,742 | ||||||||||||
955 | NRG Energy, Inc. (Independent Power Producers & Energy Traders) Callable 6/15/14 @ 104.25 | 8.50 | 6/15/19 | 986 | ||||||||||||
255 | Omnicare, Inc. (Health Care Providers & Services) Callable 2/10/11 @ 101.02 | 6.13 | 6/1/13 | 256 | ||||||||||||
145 | Paetec Holding Corp. (Diversified Telecommunication Services) Callable 6/30/13 @ 104.44 | 8.88 | 6/30/17 | 155 | ||||||||||||
1,755 | Paetec Holding Corp. (Diversified Telecommunication Services) Callable 12/1/14 @ 104.94 (a) | 9.88 | 12/1/18 | 1,803 |
See accompanying notes to financial statements
146
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HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 760 | Penn Virginia Corp. (Oil, Gas & Consumable Fuels) Callable 6/15/13 @ 105.19 | 10.38 | 6/15/16 | $ | 847 | ||||||||||
620 | Penn Virginia Resources Partners LP (Energy Equipment & Services) Callable 4/15/14 @ 104.13 | 8.25 | 4/15/18 | 639 | ||||||||||||
160 | Petrohawk Energy Corp. (Oil, Gas & Consumable Fuels) Callable 6/1/12 @ 103.94 | 7.88 | 6/1/15 | 167 | ||||||||||||
1,555 | PharmaNet Development Group, Inc. (Pharmaceuticals) Callable 4/15/14 @ 105.44 (a) | 10.88 | 4/15/17 | 1,617 | ||||||||||||
585 | PHH Corp. (Commercial Services & Supplies) (a) | 9.25 | 3/1/16 | 617 | ||||||||||||
1,055 | Phillips-Van Heusen Corp. (Textiles, Apparel & Luxury Goods) Callable 5/15/15 @ 103.69 | 7.38 | 5/15/20 | 1,121 | ||||||||||||
1,300 | Pilgrim’s Pride Corp. (Food Products) Callable 12/15/14 @ 103.94 (a) | 7.88 | 12/15/18 | 1,293 | ||||||||||||
885 | Pinnacle Entertainment, Inc. (Hotels, Restaurants & Leisure) Callable 5/15/15 @ 104.38 | 8.75 | 5/15/20 | 916 | ||||||||||||
500 | Plains Exploration & Production Co. (Oil, Gas & Consumable Fuels) Callable 6/1/13 @ 103.81 | 7.63 | 6/1/18 | 526 | ||||||||||||
585 | Plains Exploration & Production Co. (Oil, Gas & Consumable Fuels) Callable 10/15/14 @ 104.81 | 8.63 | 10/15/19 | 641 | ||||||||||||
545 | Plastipak Holdings, Inc. (Containers & Packaging) Callable 8/15/14 @ 105.31 (a) | 10.63 | 8/15/19 | 612 | ||||||||||||
670 | Provident Funding Associates (Diversified Financial Services) Callable 4/15/14 @ 105.13 (a) | 10.25 | 4/15/17 | 695 | ||||||||||||
230 | QVC, Inc. (Internet & Catalog Retail) Callable 10/1/14 @ 103.75 (a) | 7.50 | 10/1/19 | 242 | ||||||||||||
300 | Qwest Capital Funding, Inc. (Diversified Telecommunication Services) | 7.75 | 2/15/31 | 303 | ||||||||||||
735 | Qwest Corp. (Diversified Telecommunication Services) Callable 10/15/15 @ 101.94 | 7.25 | 10/15/35 | 720 | ||||||||||||
1,055 | R.R. Donnelley & Sons Co. (Commercial Services & Supplies) | 7.63 | 6/15/20 | 1,130 | ||||||||||||
1,039 | RailAmerica, Inc. (Road & Rail) | 9.25 | 7/1/17 | 1,142 | ||||||||||||
1,385 | Rain CII Carbon LLC (Chemicals) Callable 12/1/14 @ 104.00 (a) | 8.00 | 12/1/18 | 1,420 | ||||||||||||
280 | Range Resources Corp. (Oil, Gas & Consumable Fuels) Callable 5/15/11 @ 103.75 | 7.50 | 5/15/16 | 291 | ||||||||||||
1,425 | Reckson Operating Partnership LP (Diversified Financial Services) | 7.75 | 3/15/20 | 1,525 | ||||||||||||
495 | Regal Entertainment Group (Media) Callable 8/15/14 @ 104.56 | 9.13 | 8/15/18 | 527 | ||||||||||||
500 | Regions Bank (Commercial Banks) | 6.45 | 6/26/37 | 444 | ||||||||||||
400 | Regions Bank (Commercial Banks) | 7.50 | 5/15/18 | 412 | ||||||||||||
365 | Regions Financial Corp. (Diversified Financial Services) | 5.75 | 6/15/15 | 357 | ||||||||||||
1,725 | Revlon Consumer Products Corp. (Personal Products) Callable 11/15/12 @ 104.88 | 9.75 | 11/15/15 | 1,824 | ||||||||||||
1,035 | Reynolds Group Holdings Ltd. (Personal Products) Callable 10/15/14 @ 103.56 (a) | 7.13 | 4/15/19 | 1,053 | ||||||||||||
815 | Rite Aid Corp. (Food & Staples Retailing) Callable 3/1/12 @ 103.75 | 7.50 | 3/1/17 | 783 | ||||||||||||
670 | Roadhouse Financing, Inc. (Hotels, Restaurants & Leisure) Callable 10/15/13 @ 108.06 (a) | 10.75 | 10/15/17 | 724 | ||||||||||||
120 | Rock-Tenn Co. (Containers & Packaging) Callable 3/15/12 @ 104.63 | 9.25 | 3/15/16 | 131 | ||||||||||||
625 | Rotech Healthcare, Inc. (Health Care Providers & Services) Callable 4/15/13 @ 105.38 (a) | 10.75 | 10/15/15 | 644 | ||||||||||||
200 | Sabine Pass LNG LP (Oil, Gas & Consumable Fuels) | 7.25 | 11/30/13 | 195 | ||||||||||||
500 | Sabine Pass LNG LP (Oil, Gas & Consumable Fuels) | 7.50 | 11/30/16 | 469 | ||||||||||||
625 | Salem Communications Corp. (Media) Callable 12/15/13 @ 104.81 | 9.63 | 12/15/16 | 662 | ||||||||||||
1,380 | SandRidge Energy, Inc. (Oil, Gas & Consumable Fuels) Callable 6/1/13 @ 104.00 (a) | 8.00 | 6/1/18 | 1,401 | ||||||||||||
345 | SandRidge Energy, Inc. (Oil, Gas & Consumable Fuels) Callable 1/15/15 @ 104.38 | 8.75 | 1/15/20 | 354 | ||||||||||||
1,050 | Sears Holding Corp. (Specialty Retail) (a) | 6.63 | 10/15/18 | 979 | ||||||||||||
1,635 | Sinclair Television Group, Inc. (Media) Callable 11/1/13 @ 104.63 (a) | 9.25 | 11/1/17 | 1,770 | ||||||||||||
845 | Sirius XM Radio, Inc. (Media) Callable 9/1/12 @ 104.88 (a) | 9.75 | 9/1/15 | 949 | ||||||||||||
927 | Sithe/Independence Funding Corp., Series A (Electric Utilities) | 9.00 | 12/30/13 | 962 | ||||||||||||
710 | Solutia, Inc. (Chemicals) Callable 3/15/15 @ 103.94 | 7.88 | 3/15/20 | 760 | ||||||||||||
755 | Solutia, Inc. (Chemicals) Callable 11/1/13 @ 104.38 | 8.75 | 11/1/17 | 827 | ||||||||||||
555 | Speedway Motorsports, Inc. (Hotels, Restaurants & Leisure) Callable 6/1/13 @ 104.38 | 8.75 | 6/1/16 | 598 | ||||||||||||
1,065 | Spirit Aerosystems, Inc. (Aerospace & Defense) Callable 12/15/15 @ 103.38 (a) | 6.75 | 12/15/20 | 1,068 | ||||||||||||
305 | Spirit Aerosystems, Inc. (Aerospace & Defense) Callable 10/1/13 @ 103.75 | 7.50 | 10/1/17 | 317 | ||||||||||||
1,935 | Sprint Capital Corp. (Wireless Telecommunication Services) | 6.88 | 11/15/28 | 1,693 | ||||||||||||
5 | Sprint Capital Corp. (Wireless Telecommunication Services) | 6.90 | 5/1/19 | 5 | ||||||||||||
1,160 | Sprint Capital Corp. (Wireless Telecommunication Services) | 7.63 | 1/30/11 | 1,163 | ||||||||||||
845 | Sprint Capital Corp. (Wireless Telecommunication Services) | 8.38 | 3/15/12 | 894 | ||||||||||||
2,595 | Sprint Capital Corp. (Wireless Telecommunication Services) | 8.75 | 3/15/32 | 2,621 |
See accompanying notes to financial statements
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HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 1,100 | Sprint Nextel Corp. (Wireless Telecommunication Services) | 8.38 | 8/15/17 | $ | 1,180 | ||||||||||
285 | SquareTwo Financial Corp. (Diversified Financial Services) Callable 4/1/14 @ 105.81 (a) | 11.63 | 4/1/17 | 281 | ||||||||||||
825 | Standard Pacific Corp. (Household Durables) | 8.38 | 5/15/18 | 825 | ||||||||||||
1,080 | Stater Brothers Holdings (Food & Staples Retailing) Callable 4/15/11 @ 103.88 | 7.75 | 4/15/15 | 1,110 | ||||||||||||
565 | Stratus Technologies, Inc. (Computers & Peripherals) Callable 4/15/13 @ 112.00 (e) | 12.00 | 3/29/15 | 475 | ||||||||||||
1,360 | SunGard Data Systems, Inc. (Software) Callable 11/15/13 @ 105.53 (a) | 7.38 | 11/15/18 | 1,367 | ||||||||||||
1,110 | SunGard Data Systems, Inc. (Software) Callable 11/15/15 @ 103.81 (a) | 7.63 | 11/15/20 | 1,124 | ||||||||||||
1,555 | SUPERVALU, Inc. (Food & Staples Retailing) | 8.00 | 5/1/16 | 1,489 | ||||||||||||
1,145 | Targa Resources Partners LP (Oil, Gas & Consumable Fuels) Callable 7/1/12 @ 104.13 | 8.25 | 7/1/16 | 1,208 | ||||||||||||
5,650 | Telcordia Technologies, Inc. (Diversified Telecommunication Services) Callable 5/1/14 @ 105.50 (a) | 11.00 | 5/1/18 | 5,678 | ||||||||||||
1,440 | Tenet Healthcare Corp. (Health Care Providers & Services) Callable 7/1/14 @ 104.44 | 8.88 | 7/1/19 | 1,627 | ||||||||||||
265 | Tennessee Gas Pipeline Co. (Oil, Gas & Consumable Fuels) | 8.00 | 2/1/16 | 308 | ||||||||||||
195 | Terex Corp. (Machinery) Callable 11/15/12 @ 104.00 | 8.00 | 11/15/17 | 197 | ||||||||||||
1,430 | Terex Corp. (Machinery) Callable 6/1/13 @ 105.44 | 10.88 | 6/1/16 | 1,661 | ||||||||||||
945 | Texas Industries, Inc. (Construction Materials) Callable 8/15/15 @ 104.63 (a) | 9.25 | 8/15/20 | 1,004 | ||||||||||||
500 | Texas Petrochemical Corp. (Chemicals) Callable 10/1/13 @ 106.19 (a) | 8.25 | 10/1/17 | 524 | ||||||||||||
95 | The AES Corp. (Independent Power Producers & Energy Traders) | 7.75 | 10/15/15 | 101 | ||||||||||||
175 | The AES Corp. (Independent Power Producers & Energy Traders) | 8.00 | 10/15/17 | 185 | ||||||||||||
1,610 | The AES Corp. (Independent Power Producers & Energy Traders) | 9.75 | 4/15/16 | 1,799 | ||||||||||||
1,220 | The Manitowoc Co., Inc. (Machinery) Callable 2/15/14 @ 104.75 | 9.50 | 2/15/18 | 1,336 | ||||||||||||
2,170 | The Reader’s Digest Association, Inc. (Media) Callable 2/15/13 @ 104.00 (a)(b) | 9.50 | 2/15/17 | 2,154 | ||||||||||||
910 | Thermadyne Holdings Corp. (Machinery) Callable 12/15/13 @ 106.75 (a) | 9.00 | 12/15/17 | 938 | ||||||||||||
585 | Thermon Industries, Inc. (Oil, Gas & Consumable Fuels) Callable 5/1/14 @ 104.75 (a) | 9.50 | 5/1/17 | 623 | ||||||||||||
564 | Tower Automotive Holdings USA LLC/TA Holdings Finance, Inc. (Auto Components) | 10.63 | 9/1/17 | 601 | ||||||||||||
1,750 | Toys “R” Us Property Co. I LLC (Specialty Retail) Callable 7/15/13 @ 105.38 | 10.75 | 7/15/17 | 1,995 | ||||||||||||
1,045 | Toys “R” Us Property Co. II LLC (Specialty Retail) Callable 12/1/13 @ 104.25 | 8.50 | 12/1/17 | 1,123 | ||||||||||||
3,780 | Trilogy International Partners LLC (Wireless Telecommunication Services) | 10.25 | 8/15/16 | 3,742 | ||||||||||||
745 | Triumph Group, Inc. (Aerospace & Defense) Callable 11/15/13 @ 104.00 | 8.00 | 11/15/17 | 775 | ||||||||||||
1,050 | Triumph Group, Inc. (Aerospace & Defense) Callable 7/15/14 @ 104.31 | 8.63 | 7/15/18 | 1,147 | ||||||||||||
1,000 | TRW Automotive, Inc. (Auto Components) Callable 12/1/13 @ 104.44 (a) | 8.88 | 12/1/17 | 1,120 | ||||||||||||
745 | Tutor Perini Corp. (Construction Materials) Callable 11/1/14 @ 103.81 (a) | 7.63 | 11/1/18 | 749 | ||||||||||||
760 | UHS Escrow Corp. (Health Care Providers & Services) Callable 10/1/14 @ 103.50 (a) | 7.00 | 10/1/18 | 779 | ||||||||||||
350 | United Maritime LLC/Corp. (Electric Utilities) Callable 12/15/12 @ 105.88 | 11.75 | 6/15/15 | 351 | ||||||||||||
3,000 | United Rentals North America, Inc. (Trading Companies & Distributors) Callable 9/15/15 @ 104.19 | 8.38 | 9/15/20 | 3,052 | ||||||||||||
1,600 | United Rentals North America, Inc. (Trading Companies & Distributors) Callable 12/15/14 @ 104.63 | 9.25 | 12/15/19 | 1,780 | ||||||||||||
2,715 | Universal Hospital Services, Inc. (Health Care Equipment & Supplies) Callable 6/1/11 @ 104.25 | 8.50 | 6/1/15 | 2,790 | ||||||||||||
465 | Univision Communications, Inc. (Media) Callable 11/1/15 @ 103.94 (a) | 7.88 | 11/1/20 | 488 | ||||||||||||
400 | US Oncology, Inc. (Health Care Providers & Services) Callable 8/15/13 @ 104.56 | 9.13 | 8/15/17 | 493 | ||||||||||||
800 | USG Corp. (Building Products) Callable 10/15 14 @ 104.19 (a) | 8.38 | 10/15/18 | 784 | ||||||||||||
465 | USG Corp. (Building Products) (d) | 9.50 | 1/15/18 | 451 | ||||||||||||
510 | USG Corp. (Building Products) (a) | 9.75 | 8/1/14 | 538 | ||||||||||||
775 | Verso Paper Holdings LLC/Verso Paper, Inc. (Paper & Forest Products) Callable 1/1/12 @ 105.00 | 11.50 | 7/1/14 | 851 | ||||||||||||
3,010 | Verso Paper Holdings LLC/Verso Paper, Inc., Series B (Paper & Forest Products) Callable 8/1/11 @ 105.69 | 11.38 | 8/1/16 | 3,018 |
See accompanying notes to financial statements
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The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 800 | Vertellus Specialties, Inc. (Chemicals) Callable 4/1/13 @ 104.69 (a) | 9.38 | 10/1/15 | $ | 848 | ||||||||||
3,125 | ViaSat, Inc. (Communications Equipment) Callable 9/15/12 @ 106.66 | 8.88 | 9/15/16 | 3,328 | ||||||||||||
390 | Viasystems, Inc. (Electrical Equipment) Callable 7/15/12 @ 106.00 (a) | 12.00 | 1/15/15 | 436 | ||||||||||||
685 | West Corp. (Diversified Telecommunication Services) Callable 10/1/14 @ 104.31 (a) | 8.63 | 10/1/18 | 726 | ||||||||||||
2,860 | Western Refining, Inc. (Oil, Gas & Consumable Fuels) Callable 6/15/13 @ 105.62 (a) | 11.25 | 6/15/17 | 3,089 | ||||||||||||
605 | Windstream Corp. (Diversified Telecommunication Services) Callable 10/15/15 @ 103.88 | 7.75 | 10/15/20 | 623 | ||||||||||||
1,335 | Windstream Corp. (Diversified Telecommunication Services) Callable 9/1/14 @ 104.06 | 8.13 | 9/1/18 | 1,402 | ||||||||||||
860 | Windstream Corp. (Diversified Telecommunication Services) | 8.63 | 8/1/16 | 905 | ||||||||||||
895 | WMG Holdings Corp. (Media) Callable 2/10/11 @ 103.17 (d) | 9.50 | 12/15/14 | 857 | ||||||||||||
1,800 | Wynn Las Vegas LLC (Hotels, Restaurants & Leisure) Callable 8/15/15 @ 103.88 | 7.75 | 8/15/20 | 1,948 | ||||||||||||
805 | XM Satellite Radio, Inc. (Media) Callable 11/1/14 @ 103.81 (a) | 7.63 | 11/1/18 | 831 | ||||||||||||
1,775 | Zayo Group LLC/Zayo Capital, Inc. (Internet Software & Services) Callable 3/15/13 @ 105.13 | 10.25 | 3/15/17 | 1,944 | ||||||||||||
Total Corporate Bonds | 360,184 | |||||||||||||||
Convertible Corporate Bonds — 0.29% |
| |||||||||||||||
1,250 | Jefferies Group, Inc. (Capital Markets) Callable 11/1/17 @ 100.00 | 3.88 | 11/1/29 | 1,311 | ||||||||||||
Total Convertible Corporate Bonds | 1,311 | |||||||||||||||
Yankee Dollars — 14.02% |
| |||||||||||||||
1,125 | Abengoa Finance SAU (Commercial Services & Supplies) (a) | 8.88 | 11/1/17 | 1,041 | ||||||||||||
785 | Aircastle Ltd. (Trading Companies & Distributors) Callable 8/1/14 @ 104.88 | 9.75 | 8/1/18 | 858 | ||||||||||||
800 | Ardagh Packaging Finance PLC (Containers & Packaging) Callable 10/15/14 @ 103.69 (a) | 7.38 | 10/15/17 | 825 | ||||||||||||
6,000 | CHC Helicopter SA (Transportation Infrastructure) Callable 4/15/15 @ 104.63 (a) | 9.25 | 10/15/20 | 6,210 | ||||||||||||
1,850 | ConvaTec Healthcare (Health Care Providers & Services) Callable 12/15/14 @ 105.25 (a) | 10.50 | 12/15/18 | 1,875 | ||||||||||||
620 | Fairfax Financial Holdings Ltd. (Insurance) | 7.38 | 4/15/18 | 642 | ||||||||||||
1,775 | FMG Resources Pty Ltd. (Metals & Mining) Callable 11/1/12 @ 105.25 (a) | 7.00 | 11/1/15 | 1,819 | ||||||||||||
1,130 | General Maritime Corp. (Oil, Gas & Consumable Fuels) Callable 11/15/13 @ 106.00 | 12.00 | 11/15/17 | 1,090 | ||||||||||||
5,885 | Global Crossing Ltd. (Diversified Telecommunication Services) Callable 11/15/14 @ 104.50 (a) | 9.00 | 11/15/19 | 5,826 | ||||||||||||
600 | Global Crossing Ltd. (Diversified Telecommunication Services) Callable 2/10/11 @ 105.38 | 10.75 | 12/15/14 | 621 | ||||||||||||
1,990 | Global Crossing Ltd. (Diversified Telecommunication Services) Callable 9/15/12 @ 106.00 | 12.00 | 9/15/15 | 2,244 | ||||||||||||
700 | INEOS Finance PLC (Chemicals) Callable 5/15/13 @ 104.50 (a) | 9.00 | 5/15/15 | 745 | ||||||||||||
1,375 | ING Groep NV (Diversified Financial Services) Callable 12/8/15 @ 100.00 (b) | 5.78 | 12/29/49 | 1,183 | ||||||||||||
500 | Inmarsat Finance PLC (Diversified Telecommunication Services) Callable 12/1/13 @ 103.69 (a) | 7.38 | 12/1/17 | 525 | ||||||||||||
1,693 | Intelsat Bermuda Ltd. (Wireless Telecommunication Services) Callable 2/15/13 @ 105.75 | 11.50 | 2/4/17 | 1,871 | ||||||||||||
450 | MCE Finance Ltd. (Hotels, Restaurants & Leisure) Callable 5/15/14 @ 105.13 | 10.25 | 5/15/18 | 516 | ||||||||||||
745 | National Money Mart Co. (Commercial Services & Supplies) Callable 12/15/13 @ 105.19 | 10.38 | 12/15/16 | 805 | ||||||||||||
275 | Navios Maritime Acquisition Corp. (Transportation Infrastructure) Callable 11/1/13 @ 104.31 (a) | 8.63 | 11/1/17 | 281 | ||||||||||||
805 | Nova Chemicals Corp. (Chemicals) Callable 11/1/14 @ 104.31 | 8.63 | 11/1/19 | 879 | ||||||||||||
1,055 | Novelis, Inc. (Metals & Mining) Callable 12/15/13 @ 106.28 (a) | 8.38 | 12/15/17 | 1,092 | ||||||||||||
3,160 | Novelis, Inc. (Metals & Mining) Callable 12/15/15 @ 104.38 (a) | 8.75 | 12/15/20 | 3,278 | ||||||||||||
1,750 | Offshore Group Investment Ltd. (Capital Markets) Callable 2/1/13 @ 108.62 (a) | 11.50 | 8/1/15 | 1,899 | ||||||||||||
1,250 | OPTI Canada, Inc. (Oil, Gas & Consumable Fuels) Callable 2/10/11 @ 102.00 (a) | 9.00 | 12/15/12 | 1,253 | ||||||||||||
685 | OXEA Finance & Cy SCA (Chemicals) Callable 7/15/13 @ 107.12 (a) | 9.50 | 7/15/17 | 742 | ||||||||||||
675 | Patheon, Inc. (Pharmaceuticals) Callable 4/15/13 @ 106.47 (a) | 8.63 | 4/15/17 | 673 | ||||||||||||
455 | Quebecor Media, Inc. (Media) | 7.75 | 3/15/16 | 470 | ||||||||||||
700 | Quebecor Media, Inc. (Media) Callable 3/15/11 @ 103.88 | 7.75 | 3/15/16 | 723 | ||||||||||||
910 | RDS Ultra-Deepwater Ltd. (Oil, Gas & Consumable Fuels) Callable 3/15/14 @ 105.94 (a) | 11.88 | 3/15/17 | 949 | ||||||||||||
1,450 | RSC Equipment Rental, Inc. (Trading Companies & Distributors) Callable 2/10/11 @ 104.75 | 9.50 | 12/1/14 | 1,523 | ||||||||||||
365 | Seagate HDD Cayman (Computers & Peripherals) Callable 5/1/15 @ 103.44 (a) | 6.88 | 5/1/20 | 349 | ||||||||||||
2,635 | Seagate HDD Cayman (Computers & Peripherals) Callable 12/15/14 @ 103.88 (a) | 7.75 | 12/15/18 | 2,668 |
See accompanying notes to financial statements.
149
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HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Shares or | Rate % | Maturity Date | Value (000) | |||||||||||||
Yankee Dollars (continued) |
| |||||||||||||||
$ | 165 | Seagate Technology International Ltd. (Computers & Peripherals) Callable 5/1/13 @ 105.00 (a) | 10.00 | 5/1/14 | $ | 193 | ||||||||||
109 | Sun Media Corp. (Media) | 7.63 | 2/15/13 | 109 | ||||||||||||
965 | Teekay Corp. (Oil, Gas & Consumable Fuels) | 8.50 | 1/15/20 | 1,051 | ||||||||||||
4,000 | Telesat Canada/Telesat LLC (Diversified Telecommunication Services) Callable 11/1/12 @ 105.50 | 11.00 | 11/1/15 | 4,490 | ||||||||||||
1,115 | Trinidad Drilling Ltd. (Oil, Gas & Consumable Fuels) Callable 1/15/15 @ 103.94 (a) | 7.88 | 1/15/19 | 1,126 | ||||||||||||
475 | UPC Germany GmbH (Diversified Financial Services) Callable 12/1/12 @ 108.12 (a) | 8.13 | 12/1/17 | 496 | ||||||||||||
900 | UPC Holding BV (Media) Callable 4/15/14 @ 104.94 (a) | 9.88 | 4/15/18 | 986 | ||||||||||||
2,390 | Warner Chilcott Co. LLC (Pharmaceuticals) Callable 9/15/14 @ 103.88 (a) | 7.75 | 9/15/18 | 2,414 | ||||||||||||
1,380 | White Mountains Re Group Ltd. (Insurance) Callable 6/30/17 @ 100.00 (a)(b) | 7.51 | 5/29/49 | 1,199 | ||||||||||||
2,600 | Wind Acquisition Finance SA (Electric Utilities) Callable 11/15/13 @ 105.44 (a) | 7.25 | 2/15/18 | 2,646 | ||||||||||||
440 | Wind Acquisition Finance SA (Electric Utilities) Callable 7/15/13 @ 105.88 (a) | 11.75 | 7/15/17 | 496 | ||||||||||||
2,207 | Wind Acquisition Holdings Finance SA (Electric Utilities) Callable 7/15/13 @ 106.12 (a) | 12.25 | 7/15/17 | 2,560 | ||||||||||||
Total Yankee Dollars | 63,241 | |||||||||||||||
Common/Preferred Stocks and Rights — 0.23% | ||||||||||||||||
21,000 | Adelphia restructure Rights to Time Warner Cable, Inc., Class – A Stock (Media) (f) | 21 | ||||||||||||||
37,775 | Citigroup Capital XII Callable 3/30/15 @ 25.00 (Diversified Financial Services) | 1,000 | ||||||||||||||
Total Common/Preferred Stocks and Rights | 1,021 | |||||||||||||||
Time Deposits — 3.98% | ||||||||||||||||
$ | 17,940 | State Street Liquidity Management Control System Time Deposit | 0.01 | 1/3/11 | 17,940 | |||||||||||
Total Time Deposits | 17,940 | |||||||||||||||
Total Investments (cost $415,948) — 98.38% | 443,697 | |||||||||||||||
Other assets in excess of liabilities — 1.62% | 7,294 | |||||||||||||||
Net Assets — 100.00% | $ | 450,991 | ||||||||||||||
(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, 2010. |
(c) | Rate disclosed represents effective yield at purchase. |
(d) | 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, 2010. |
(e) | The security has been deemed illiquid by the Specialist Manager and represents 0.11% of the Portfolio. |
(f) | As part of the corporate restructure of Adelphia, holders of Adelphia bonds received the right to receive shares of Time Warner, Inc., Class A Stock. |
MTN — Medium Term Note
ULC — Unlimited Liability Co.
See accompanying notes to financial statements
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HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations — 81.49% | ||||||||||||||||
$ | 1,980 | U.S. Treasury Bond | 3.88 | 8/15/40 | $ | 1,824 | ||||||||||
3,323 | U.S. Treasury Bond | 4.25 | 5/15/39 | 3,274 | ||||||||||||
950 | U.S. Treasury Bond | 4.38 | 11/15/39 | 955 | ||||||||||||
1,804 | U.S. Treasury Bond | 4.38 | 5/15/40 | 1,813 | ||||||||||||
2,259 | U.S. Treasury Bond | 4.50 | 2/15/36 | 2,339 | ||||||||||||
1,663 | U.S. Treasury Bond | 4.50 | 8/15/39 | 1,708 | ||||||||||||
1,816 | U.S. Treasury Bond | 4.63 | 2/15/40 | 1,902 | ||||||||||||
564 | U.S. Treasury Bond | 5.38 | 2/15/31 | 658 | ||||||||||||
956 | U.S. Treasury Bond | 6.13 | 11/15/27 | 1,201 | ||||||||||||
2,980 | U.S. Treasury Bond | 6.25 | 8/15/23 | 3,745 | ||||||||||||
1,731 | U.S. Treasury Bond | 6.25 | 5/15/30 | 2,225 | ||||||||||||
1,100 | U.S. Treasury Bond | 8.00 | 11/15/21 | 1,556 | ||||||||||||
1,923 | U.S. Treasury Note | 0.38 | 8/31/12 | 1,920 | ||||||||||||
1,974 | U.S. Treasury Note | 0.38 | 9/30/12 | 1,969 | ||||||||||||
2,007 | U.S. Treasury Note | 0.38 | 10/31/12 | 2,001 | ||||||||||||
2,013 | U.S. Treasury Note | 0.50 | 11/30/12 | 2,010 | ||||||||||||
5,467 | U.S. Treasury Note | 0.50 | 10/15/13 | 5,406 | ||||||||||||
1,454 | U.S. Treasury Note | 0.50 | 11/15/13 | 1,435 | ||||||||||||
1,799 | U.S. Treasury Note | 0.63 | 6/30/12 | 1,804 | ||||||||||||
1,861 | U.S. Treasury Note | 0.63 | 7/31/12 | 1,866 | ||||||||||||
1,737 | U.S. Treasury Note | 0.75 | 5/31/12 | 1,745 | ||||||||||||
1,122 | U.S. Treasury Note | 0.75 | 8/15/13 | 1,120 | ||||||||||||
1,252 | U.S. Treasury Note | 0.75 | 9/15/13 | 1,248 | ||||||||||||
2,703 | U.S. Treasury Note | 0.88 | 1/31/12 | 2,718 | ||||||||||||
1,528 | U.S. Treasury Note | 0.88 | 2/29/12 | 1,537 | ||||||||||||
1,477 | U.S. Treasury Note | 1.00 | 3/31/12 | 1,488 | ||||||||||||
1,703 | U.S. Treasury Note | 1.00 | 4/30/12 | 1,717 | ||||||||||||
1,122 | U.S. Treasury Note | 1.00 | 7/15/13 | 1,127 | ||||||||||||
4,632 | U.S. Treasury Note | 1.13 | 1/15/12 | 4,669 | ||||||||||||
2,216 | U.S. Treasury Note | 1.13 | 12/15/12 | 2,239 | ||||||||||||
1,122 | U.S. Treasury Note | 1.13 | 6/15/13 | 1,131 | ||||||||||||
1,653 | U.S. Treasury Note | 1.25 | 8/31/15 | 1,608 | ||||||||||||
4,353 | U.S. Treasury Note | 1.25 | 9/30/15 | 4,223 | ||||||||||||
1,353 | U.S. Treasury Note | 1.25 | 10/31/15 | 1,309 | ||||||||||||
1,162 | U.S. Treasury Note | 1.38 | 2/15/12 | 1,175 | ||||||||||||
1,393 | U.S. Treasury Note | 1.38 | 5/15/12 | 1,411 | ||||||||||||
1,929 | U.S. Treasury Note | 1.38 | 9/15/12 | 1,957 | ||||||||||||
2,109 | U.S. Treasury Note | 1.38 | 10/15/12 | 2,140 | ||||||||||||
2,261 | U.S. Treasury Note | 1.38 | 11/15/12 | 2,295 | ||||||||||||
2,086 | U.S. Treasury Note | 1.38 | 1/15/13 | 2,118 | ||||||||||||
2,030 | U.S. Treasury Note | 1.38 | 2/15/13 | 2,061 | ||||||||||||
1,906 | U.S. Treasury Note | 1.38 | 3/15/13 | 1,934 | ||||||||||||
1,248 | U.S. Treasury Note | 1.38 | 5/15/13 | 1,266 | ||||||||||||
1,600 | U.S. Treasury Note | 1.38 | 11/30/15 | 1,555 | ||||||||||||
1,274 | U.S. Treasury Note | 1.50 | 7/15/12 | 1,295 | ||||||||||||
1,759 | U.S. Treasury Note | 1.75 | 8/15/12 | 1,795 | ||||||||||||
1,754 | U.S. Treasury Note | 1.75 | 4/15/13 | 1,794 | ||||||||||||
1,455 | U.S. Treasury Note | 1.75 | 7/31/15 | 1,450 | ||||||||||||
1,359 | U.S. Treasury Note | 1.88 | 6/15/12 | 1,388 | ||||||||||||
1,466 | U.S. Treasury Note | 1.88 | 6/30/15 | 1,472 | ||||||||||||
1,348 | U.S. Treasury Note | 1.88 | 8/31/17 | 1,287 |
See accompanying notes to financial statements
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HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 1,348 | U.S. Treasury Note | 1.88 | 9/30/17 | $ | 1,284 | ||||||||||
1,342 | U.S. Treasury Note | 1.88 | 10/31/17 | 1,276 | ||||||||||||
8,871 | U.S. Treasury Note | 2.13 | 5/31/15 | 9,012 | ||||||||||||
1,066 | U.S. Treasury Note | 2.25 | 5/31/14 | 1,103 | ||||||||||||
1,489 | U.S. Treasury Note | 2.25 | 1/31/15 | 1,529 | ||||||||||||
1,353 | U.S. Treasury Note | 2.25 | 11/30/17 | 1,316 | ||||||||||||
1,590 | U.S. Treasury Note | 2.38 | 2/28/15 | 1,639 | ||||||||||||
1,365 | U.S. Treasury Note | 2.38 | 7/31/17 | 1,347 | ||||||||||||
1,556 | U.S. Treasury Note | 2.50 | 3/31/15 | 1,611 | ||||||||||||
1,590 | U.S. Treasury Note | 2.50 | 4/30/15 | 1,644 | ||||||||||||
1,398 | U.S. Treasury Note | 2.50 | 6/30/17 | 1,393 | ||||||||||||
714 | U.S. Treasury Note | 2.63 | 6/30/14 | 747 | ||||||||||||
1,523 | U.S. Treasury Note | 2.63 | 12/31/14 | 1,588 | ||||||||||||
3,353 | U.S. Treasury Note | 2.63 | 8/15/20 | 3,179 | ||||||||||||
1,694 | U.S. Treasury Note | 2.63 | 11/15/20 | 1,598 | ||||||||||||
1,286 | U.S. Treasury Note | 2.75 | 11/30/16 | 1,313 | ||||||||||||
1,353 | U.S. Treasury Note | 2.75 | 5/31/17 | 1,370 | ||||||||||||
1,167 | U.S. Treasury Note | 3.00 | 8/31/16 | 1,211 | ||||||||||||
1,218 | U.S. Treasury Note | 3.00 | 9/30/16 | 1,263 | ||||||||||||
1,303 | U.S. Treasury Note | 3.00 | 2/28/17 | 1,344 | ||||||||||||
2,503 | U.S. Treasury Note | 3.13 | 10/31/16 | 2,611 | ||||||||||||
1,370 | U.S. Treasury Note | 3.13 | 1/31/17 | 1,423 | ||||||||||||
1,382 | U.S. Treasury Note | 3.13 | 4/30/17 | 1,432 | ||||||||||||
2,335 | U.S. Treasury Note | 3.13 | 5/15/19 | 2,360 | ||||||||||||
1,032 | U.S. Treasury Note | 3.25 | 7/31/16 | 1,086 | ||||||||||||
1,325 | U.S. Treasury Note | 3.25 | 12/31/16 | 1,388 | ||||||||||||
1,325 | U.S. Treasury Note | 3.25 | 3/31/17 | 1,384 | ||||||||||||
2,566 | U.S. Treasury Note | 3.38 | 11/15/19 | 2,619 | ||||||||||||
1,449 | U.S. Treasury Note | 3.50 | 2/15/18 | 1,524 | ||||||||||||
2,543 | U.S. Treasury Note | 3.50 | 5/15/20 | 2,605 | ||||||||||||
2,583 | U.S. Treasury Note | 3.63 | 2/15/20 | 2,681 | ||||||||||||
1,974 | U.S. Treasury Note | 3.75 | 11/15/18 | 2,100 | ||||||||||||
1,195 | U.S. Treasury Note | 3.88 | 5/15/18 | 1,286 | ||||||||||||
1,043 | U.S. Treasury Note | 4.00 | 2/15/14 | 1,136 | ||||||||||||
1,274 | U.S. Treasury Note | 4.00 | 8/15/18 | 1,381 | ||||||||||||
1,032 | U.S. Treasury Note | 4.13 | 5/15/15 | 1,136 | ||||||||||||
5,895 | U.S. Treasury Note | 4.25 | 8/15/14 | 6,503 | ||||||||||||
1,077 | U.S. Treasury Note | 4.25 | 8/15/15 | 1,193 | ||||||||||||
727 | U.S. Treasury Note | 4.25 | 11/15/17 | 801 | ||||||||||||
1,032 | U.S. Treasury Note | 4.38 | 8/15/12 | 1,097 | ||||||||||||
981 | U.S. Treasury Note | 4.75 | 8/15/17 | 1,112 | ||||||||||||
2,338 | U.S. Treasury Note | 5.02 | 2/15/19 | 2,308 | ||||||||||||
2,430 | U.S. Treasury Note | 6.62 | 8/15/19 | 2,539 | ||||||||||||
5,367 | U.S. Treasury Note | 7.76 | 8/15/13 | 5,843 | ||||||||||||
Total U.S. Treasury Obligations | 184,198 | |||||||||||||||
U.S. Government Agency Securities — 12.80% | ||||||||||||||||
2,244 | Fannie Mae, Callable 4/22/11 @ 100.00 | 1.05 | 10/22/13 | 2,227 | ||||||||||||
1,686 | Fannie Mae, Callable 6/2/11 @ 100.00 | 1.13 | 12/2/13 | 1,687 | ||||||||||||
1,404 | Fannie Mae, Callable 5/18/11 @ 100.00 | 1.15 | 11/18/14 | 1,375 | ||||||||||||
657 | Fannie Mae | 1.63 | 10/26/15 | 640 |
See accompanying notes to financial statements
152
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HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Securities (continued) | ||||||||||||||||
$ | 1,616 | Fannie Mae | 2.63 | 11/20/14 | $ | 1,677 | ||||||||||
3,090 | Fannie Mae | 2.75 | 2/5/14 | 3,229 | ||||||||||||
1,053 | Fannie Mae | 7.25 | 5/15/30 | 1,418 | ||||||||||||
2,646 | Fannie Mae, Series 1, Callable 6/28/11 @ 100.00 | 0.88 | 12/28/12 | 2,640 | ||||||||||||
2,185 | Federal Home Loan Bank | 0.88 | 8/22/12 | 2,196 | ||||||||||||
1,050 | Federal Home Loan Bank | 5.25 | 12/11/20 | 1,174 | ||||||||||||
2,092 | Freddie Mac | 1.63 | 4/15/13 | 2,129 | ||||||||||||
2,467 | Freddie Mac | 2.88 | 2/9/15 | 2,568 | ||||||||||||
2,098 | Freddie Mac | 4.13 | 9/27/13 | 2,273 | ||||||||||||
2,926 | Freddie Mac | 5.25 | 4/18/16 | 3,347 | ||||||||||||
319 | Tennessee Valley Authority | 5.38 | 4/1/56 | 342 | ||||||||||||
Total U.S. Government Agency Securities | 28,922 | |||||||||||||||
Corporate Bonds — 4.73% | ||||||||||||||||
3,074 | Citigroup, Inc. (Diversified Financial Services) | 2.13 | 4/30/12 | 3,137 | ||||||||||||
2,267 | General Electric Capital Corp., Series G (Diversified Financial Services) | 2.20 | 6/8/12 | 2,318 | ||||||||||||
2,842 | Goldman Sachs Group, Inc. (Diversified Financial Services) | 3.25 | 6/15/12 | 2,950 | ||||||||||||
2,250 | US Central Federal Credit Union (Diversified Financial Services) | 1.90 | 10/19/12 | 2,297 | ||||||||||||
Total Corporate Bonds | 10,702 | |||||||||||||||
Time Deposits — 0.46% | ||||||||||||||||
1,028 | State Street Liquidity Management Control System Time Deposit | 0.01 | 1/3/11 | 1,028 | ||||||||||||
Total Time Deposits | 1,028 | |||||||||||||||
Total Investments (cost $227,436) — 99.48% | 224,850 | |||||||||||||||
Other assets in excess of liabilities — 0.52% | 1,181 | |||||||||||||||
Net Assets — 100.00% | $ | 226,031 | ||||||||||||||
See accompanying notes to financial statements
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HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds — 72.27% |
| |||||||||||||||
$ | 59 | Alabama Power Co. (Electric Utilities) | 5.80 | 11/15/13 | $ | 66 | ||||||||||
2,993 | American Tower Corp. (Wireless Telecommunication Services) | 4.50 | 1/15/18 | 2,967 | ||||||||||||
1,047 | Anheuser-Busch InBev Worldwide, Inc. (Beverages) | 6.38 | 1/15/40 | 1,199 | ||||||||||||
533 | Anheuser-Busch InBev Worldwide, Inc. (Beverages) (a) | 8.20 | 1/15/39 | 723 | ||||||||||||
1,201 | AT&T, Inc. (Diversified Telecommunication Services) | 4.95 | 1/15/13 | 1,287 | ||||||||||||
683 | AT&T, Inc. (Diversified Telecommunication Services) | 5.10 | 9/15/14 | 747 | ||||||||||||
2,720 | AT&T, Inc. (Diversified Telecommunication Services) | 5.80 | 2/15/19 | 3,062 | ||||||||||||
901 | AT&T, Inc. (Diversified Telecommunication Services) | 6.45 | 6/15/34 | 955 | ||||||||||||
2,140 | Aviation Capital Group (Transportation Infrastructure) (a) | 7.13 | 10/15/20 | 2,180 | ||||||||||||
1,719 | Baker Hughes, Inc. (Oil, Gas & Consumable Fuels) | 5.13 | 9/15/40 | 1,679 | ||||||||||||
792 | Becton, Dickinson & Co. (Health Care Equipment & Supplies) | 3.25 | 11/12/20 | 743 | ||||||||||||
3,317 | Berkshire Hathaway, Inc. (Insurance) | 3.20 | 2/11/15 | 3,423 | ||||||||||||
1,787 | CC Holdings GS V LLC (Wireless Telecommunication Services) Callable 5/1/13 @ 103.88 (a) | 7.75 | 5/1/17 | 1,952 | ||||||||||||
1,908 | Cellco Partnership/Verizon Wireless Capital LLC (Diversified Telecommunication Services) | 5.55 | 2/1/14 | 2,104 | ||||||||||||
895 | CenterPoint Energy Resources Corp., Series B (Multi-Utilities) | 7.88 | 4/1/13 | 1,012 | ||||||||||||
618 | Cisco Systems, Inc. (Communications Equipment) | 4.45 | 1/15/20 | 647 | ||||||||||||
1,574 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 2/22/16 | 1,796 | ||||||||||||
2,602 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 1/15/40 | 2,718 | ||||||||||||
790 | CME Group, Inc. (Diversified Financial Services) | 5.40 | 8/1/13 | 870 | ||||||||||||
2,430 | CME Group, Inc. (Diversified Financial Services) | 5.75 | 2/15/14 | 2,691 | ||||||||||||
612 | Comcast Corp. (Media) | 5.15 | 3/1/20 | 643 | ||||||||||||
854 | Comcast Corp. (Media) | 6.45 | 3/15/37 | 912 | ||||||||||||
906 | Continental Airlines 2010-A (Airlines) | 4.75 | 1/12/21 | 905 | ||||||||||||
860 | Delta Air Lines 2010-2A (Airlines) | 4.95 | 5/23/19 | 863 | ||||||||||||
2,425 | Digital Realty Trust LP (Real Estate Investment Trusts) | 5.88 | 2/1/20 | 2,467 | ||||||||||||
480 | Duke Energy Carolinas LLC, Series C (Electric Utilities) | 7.00 | 11/15/18 | 587 | ||||||||||||
774 | El Paso Natural Gas Co. (Oil, Gas & Consumable Fuels) | 5.95 | 4/15/17 | 830 | ||||||||||||
1,280 | Enbridge Energy Partners LP (Oil, Gas & Consumable Fuels) Callable 3/15/40 @ 100.00 | 5.50 | 9/15/40 | 1,217 | ||||||||||||
796 | Energy Transfer Partners LP (Oil, Gas & Consumable Fuels) | 7.50 | 7/1/38 | 926 | ||||||||||||
2,015 | Energy Transfer Partners LP (Oil, Gas & Consumable Fuels) | 9.00 | 4/15/19 | 2,524 | ||||||||||||
2,471 | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels) | 5.25 | 1/31/20 | 2,570 | ||||||||||||
1,817 | ERAC USA Finance Co. (Specialty Retail) (a) | 5.25 | 10/1/20 | 1,848 | ||||||||||||
658 | ERAC USA Finance Co. (Specialty Retail) (a) | 5.60 | 5/1/15 | 718 | ||||||||||||
1,744 | Exelon Generation Co. LLC (Electric Utilities) | 6.20 | 10/1/17 | 1,952 | ||||||||||||
3,366 | General Electric Co. (Industrial Conglomerates) | 5.00 | 2/1/13 | 3,598 | ||||||||||||
1,045 | General Electric Co. (Industrial Conglomerates) | 5.25 | 12/6/17 | 1,129 | ||||||||||||
1,989 | Georgia Power Co. (Electric Utilities) | 6.00 | 11/1/13 | 2,224 | ||||||||||||
1,588 | GlaxoSmithKline Capital, Inc. (Pharmaceuticals) | 4.85 | 5/15/13 | 1,724 | ||||||||||||
2,471 | Healthcare Realty Trust (Real Estate Investment Trusts) | 6.50 | 1/17/17 | 2,665 | ||||||||||||
2,441 | Jefferies Group, Inc. (Capital Markets) | 8.50 | 7/15/19 | 2,791 | ||||||||||||
2,243 | JPMorgan Chase & Co. (Diversified Financial Services) | 4.40 | 7/22/20 | 2,208 | ||||||||||||
3,350 | JPMorgan Chase & Co. (Diversified Financial Services) | 6.30 | 4/23/19 | 3,813 | ||||||||||||
924 | Kellogg Co. (Food Products) | 4.25 | 3/6/13 | 981 | ||||||||||||
3,379 | Lazard Group LLC (Diversified Financial Services) | 7.13 | 5/15/15 | 3,639 | ||||||||||||
672 | Life Technologies Corp. (Biotechnology) Callable 10/15/20 @ 100.00 | 5.00 | 1/15/21 | 666 | ||||||||||||
1,519 | MassMutual Global Funding LLC (Capital Markets) (a) | 2.30 | 9/28/15 | 1,481 | ||||||||||||
850 | MidAmerican Energy Holdings Co. (Electric Utilities) | 6.13 | 4/1/36 | 918 | ||||||||||||
2,582 | Morgan Stanley (Diversified Financial Services) | 7.30 | 5/13/19 | 2,906 | ||||||||||||
1,970 | Nationwide Mutual Insurance Co. (Insurance) (a) | 9.38 | 8/15/39 | 2,285 | ||||||||||||
1,728 | NBC Universal (Media) (a) | 5.95 | 4/1/41 | 1,728 | ||||||||||||
2,345 | Newmont Mining Corp (Metals & Mining) | 6.25 | 10/1/39 | 2,550 |
See accompanying notes to financial statements
154
Table of Contents
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Corporate Bonds (continued) |
| |||||||||||||||
$ | 1,292 | News America, Inc. (Media) | 6.15 | 3/1/37 | $ | 1,347 | ||||||||||
2,369 | Northern Trust Corp. (Diversified Financial Services) | 4.63 | 5/1/14 | 2,561 | ||||||||||||
739 | Oncor Electric Delivery (Electric Utilities) (a) | 5.25 | 9/30/40 | 710 | ||||||||||||
1,063 | Pacific Gas & Electric Co. (Electric Utilities) | 6.05 | 3/1/34 | 1,164 | ||||||||||||
1,811 | Praxair, Inc. (Industrial Conglomerates) | 4.63 | 3/30/15 | 1,971 | ||||||||||||
810 | Public Service Co. of Colorado, Series 17 (Electric Utilities) | 6.25 | 9/1/37 | 932 | ||||||||||||
806 | Roche Holdings, Inc. (Pharmaceuticals) (a) | 7.00 | 3/1/39 | 1,016 | ||||||||||||
1,191 | Rockies Express Pipeline LLC (Oil, Gas & Consumable Fuels) (a) | 6.85 | 7/15/18 | 1,270 | ||||||||||||
527 | Southern California Edison Co. (Electric Utilities) | 5.75 | 3/15/14 | 588 | ||||||||||||
3,443 | TD Ameritrade Holding Corp. (Diversified Financial Services) | 5.60 | 12/1/19 | 3,606 | ||||||||||||
1,476 | Teachers Insurance & Annuity Association (Insurance) (a) | 6.85 | 12/16/39 | 1,727 | ||||||||||||
903 | Teva Pharmaceutical Finance Co. LLC (Pharmaceuticals) | 6.15 | 2/1/36 | 1,017 | ||||||||||||
593 | The Kroger Co. (Food & Staples Retailing) | 5.50 | 2/1/13 | 641 | ||||||||||||
701 | The Kroger Co. (Food & Staples Retailing) | 7.50 | 1/15/14 | 808 | ||||||||||||
2,404 | The NASDAQ OMX Group, Inc. (Diversified Financial Services) | 5.55 | 1/15/20 | 2,429 | ||||||||||||
506 | TIAA Global Markets, Inc. (Capital Markets) (a) | 5.13 | 10/10/12 | 542 | ||||||||||||
3,041 | Time Warner Cable, Inc. (Media) | 5.85 | 5/1/17 | 3,393 | ||||||||||||
1,616 | Time Warner Cable, Inc. (Media) | 8.25 | 2/14/14 | 1,876 | ||||||||||||
2,297 | Time Warner, Inc. (Media) | 4.88 | 3/15/20 | 2,392 | ||||||||||||
597 | Time Warner, Inc. (Media) | 6.20 | 3/15/40 | 635 | ||||||||||||
1,221 | Toyota Motor Credit Corp., MTN (Diversified Financial Services) | 3.20 | 6/17/15 | 1,261 | ||||||||||||
1,325 | United Parcel Service, Inc. (Air Freight & Logistics) | 3.13 | 1/15/21 | 1,231 | ||||||||||||
1,071 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.25 | 4/15/13 | 1,164 | ||||||||||||
417 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.55 | 2/15/16 | 467 | ||||||||||||
782 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.85 | 9/15/35 | 809 | ||||||||||||
2,250 | Williams Partners LP (Oil, Gas & Consumable Fuels) Callable 8/15/20 @ 100.00 | 4.13 | 11/15/20 | 2,131 | ||||||||||||
759 | Wisconsin Power & Light Co. (Electric Utilities) | 6.38 | 8/15/37 | 875 | ||||||||||||
Total Corporate Bonds | 127,652 | |||||||||||||||
Yankee Dollars — 22.51% | ||||||||||||||||
1,090 | Allied World Assurance Co. Ltd. (Insurance) | 5.50 | 11/15/20 | 1,047 | ||||||||||||
1,584 | Bank of Nova Scotia (Commercial Banks) | 2.38 | 12/17/13 | 1,632 | ||||||||||||
1,843 | Bank of Nova Scotia (Commercial Banks) | 3.40 | 1/22/15 | 1,913 | ||||||||||||
1,377 | Barrick (PD) Australia Finance Pty Ltd. (Metals & Mining) | 5.95 | 10/15/39 | 1,458 | ||||||||||||
711 | Barrick Gold Corp. (Metals & Mining) | 6.95 | 4/1/19 | 872 | ||||||||||||
1,203 | Barrick International (Barbados) Corp. (Metals & Mining) (a) | 6.35 | 10/15/36 | 1,302 | ||||||||||||
245 | Covidien International Finance SA (Health Care Equipment & Supplies) | 6.00 | 10/15/17 | 278 | ||||||||||||
2,232 | Credit Suisse New York, MTN (Commercial Banks) | 5.30 | 8/13/19 | 2,358 | ||||||||||||
211 | Diageo Capital PLC (Beverages) | 5.20 | 1/30/13 | 228 | ||||||||||||
3,573 | E.ON International Finance BV (Electric Utilities) (a) | 5.80 | 4/30/18 | 4,037 | ||||||||||||
1,945 | HSBC Bank PLC (Commercial Banks) (a) | 3.50 | 6/28/15 | 1,994 | ||||||||||||
3,500 | Royal Bank of Canada, MTN (Commercial Banks) | 2.10 | 7/29/13 | 3,569 | ||||||||||||
1,667 | Shell International Finance BV (Energy Equipment & Services) | 5.50 | 3/25/40 | 1,786 | ||||||||||||
942 | Shell International Finance BV (Energy Equipment & Services) | 6.38 | 12/15/38 | 1,116 | ||||||||||||
964 | Siemens Financieringsmaatschappij NV (Industrial Conglomerates) (a) | 6.13 | 8/17/26 | 1,088 | ||||||||||||
1,281 | Tesco PLC (Food & Staples Retailing) (a) | 5.50 | 11/15/17 | 1,429 | ||||||||||||
1,387 | Teva Pharmaceutical Finance II/III LLC (Pharmaceuticals) | 3.00 | 6/15/15 | 1,411 | ||||||||||||
1,219 | Total Capital SA (Oil, Gas & Consumable Fuels) | 3.00 | 6/24/15 | 1,245 | ||||||||||||
1,879 | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | 6.10 | 6/1/40 | 2,068 | ||||||||||||
1,314 | Veolia Environnement (Multi-Utilities) | 6.00 | 6/1/18 | 1,472 | ||||||||||||
585 | Weatherford Bermuda Holdings Ltd. (Energy Equipment & Services) | 9.63 | 3/1/19 | 751 |
See accompanying notes to financial statements
155
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HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Yankee Dollars (continued) | ||||||||||||||||
$ | 838 | Weatherford International Ltd. (Energy Equipment & Services) | 6.50 | 8/1/36 | $ | 856 | ||||||||||
1,223 | Wesfarmers Ltd. (Industrial Conglomerates) (a) | 7.00 | 4/10/13 | 1,349 | ||||||||||||
3,624 | Woodside Finance Ltd. (Diversified Financial Services) (a) | 8.75 | 3/1/19 | 4,507 | ||||||||||||
Total Yankee Dollars | 39,766 | |||||||||||||||
Time Deposits — 3.84% | ||||||||||||||||
6,784 | State Street Liquidity Management Control System Time Deposit | 0.01 | 1/3/11 | 6,784 | ||||||||||||
Total Time Deposits | 6,784 | |||||||||||||||
Total Investments (cost $173,915) — 98.62% | 174,202 | |||||||||||||||
Other assets in excess of liabilities — 1.38% | 2,437 | |||||||||||||||
Net Assets — 100.00% | $ | 176,639 | ||||||||||||||
(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. |
MTN — Medium Term Note
See accompanying notes to financial statements
156
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
U.S. Government Agency Mortgages — 92.03% | ||||||||||||||||
$ | 3,000 | Fannie Mae, 10 YR TBA | 5.50 | 1/25/26 | $ | 3,225 | ||||||||||
1,800 | Fannie Mae, 15 YR TBA | 3.50 | 1/25/26 | 1,812 | ||||||||||||
7,700 | Fannie Mae, 15 YR TBA | 4.00 | 1/25/26 | 7,930 | ||||||||||||
6,900 | Fannie Mae, 15 YR TBA | 4.50 | 1/25/26 | 7,233 | ||||||||||||
4,400 | Fannie Mae, 15 YR TBA | 5.00 | 1/25/26 | 4,668 | ||||||||||||
3,200 | Fannie Mae, 30 YR TBA | 4.00 | 1/25/41 | 3,183 | ||||||||||||
18,300 | Fannie Mae, 30 YR TBA | 4.50 | 1/25/41 | 18,783 | ||||||||||||
200 | Fannie Mae, 30 YR TBA | 5.00 | 1/25/41 | 210 | ||||||||||||
2,800 | Fannie Mae, 30 YR TBA | 6.50 | 1/25/41 | 3,112 | ||||||||||||
9,594 | Fannie Mae, Pool #725228 | 6.00 | 3/1/34 | 10,569 | ||||||||||||
8,983 | Fannie Mae, Pool #889117 | 5.00 | 10/1/35 | 9,493 | ||||||||||||
13,921 | Fannie Mae, Pool #890221 | 5.50 | 12/1/33 | 14,985 | ||||||||||||
3,232 | Fannie Mae, Pool #AE0442 | 6.50 | 1/1/39 | 3,603 | ||||||||||||
7,900 | Freddie Mac, 30 YR TBA | 4.00 | 1/15/41 | 7,842 | ||||||||||||
7,400 | Freddie Mac, 30 YR TBA | 5.00 | 1/15/41 | 7,761 | ||||||||||||
2,800 | Freddie Mac, 30 YR TBA | 5.50 | 1/15/41 | 2,984 | ||||||||||||
1,300 | Freddie Mac, 30 YR TBA | 6.00 | 1/15/41 | 1,408 | ||||||||||||
19,800 | Freddie Mac, Gold 30 YR TBA | 4.50 | 1/15/41 | 20,289 | ||||||||||||
6,100 | Freddie Mac, Pool #1B7911 (a) | 2.71 | 12/1/40 | 6,161 | ||||||||||||
6,221 | Freddie Mac, Pool #C01598 | 5.00 | 8/1/33 | 6,567 | ||||||||||||
8,732 | Freddie Mac, Pool #G01665 | 5.50 | 3/1/34 | 9,382 | ||||||||||||
5,851 | Freddie Mac, Pool #G02794 | 6.00 | 5/1/37 | 6,359 | ||||||||||||
2,300 | Government National Mortgage Association, 30 YR TBA | 4.00 | 1/15/41 | 2,315 | ||||||||||||
8,000 | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/15/41 | 8,305 | ||||||||||||
5,600 | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/20/41 | 5,814 | ||||||||||||
4,300 | Government National Mortgage Association, 30 YR TBA | 5.00 | 1/15/41 | 4,571 | ||||||||||||
6,400 | Government National Mortgage Association, 30 YR TBA | 5.00 | 1/20/41 | 6,803 | ||||||||||||
2,400 | Government National Mortgage Association, 30 YR TBA | 5.50 | 1/20/40 | 2,582 | ||||||||||||
600 | Government National Mortgage Association, 30 YR TBA | 5.50 | 1/15/41 | 648 | ||||||||||||
1,600 | Government National Mortgage Association, 30 YR TBA | 6.00 | 1/20/40 | 1,752 | ||||||||||||
100 | Government National Mortgage Association, 30 YR TBA | 6.00 | 1/15/41 | 110 | ||||||||||||
1,600 | Government National Mortgage Association, 30 YR TBA | 6.50 | 1/15/41 | 1,803 | ||||||||||||
2,081 | Government National Mortgage Association, Pool #510835 | 5.50 | 2/15/35 | 2,258 | ||||||||||||
714 | Government National Mortgage Association, Pool #658181 | 5.50 | 11/15/36 | 773 | ||||||||||||
2,102 | Government National Mortgage Association, Pool #781959 | 6.00 | 7/15/35 | 2,307 | ||||||||||||
1,545 | Government National Mortgage Association, Pool #782523 | 5.00 | 11/15/35 | 1,645 | ||||||||||||
Total U.S. Government Agency Mortgages | 199,245 | |||||||||||||||
U.S. Treasury Obligations — 90.90% | ||||||||||||||||
196,800 | U.S. Treasury Bill (b) | 0.03 | 1/13/11 | 196,798 | ||||||||||||
Total U.S. Treasury Obligations | 196,798 | |||||||||||||||
Collateralized Mortgage Obligations — 5.29% | ||||||||||||||||
1,745 | Banc of America Commercial Mortgage, Inc., Series 2007-2, Class A4 (a) | 5.69 | 4/10/49 | 1,823 | ||||||||||||
1,310 | CS First Boston Mortgage Securities Corp., Series 2005-C6, Class A4 (a) | 5.23 | 10/15/15 | 1,409 | ||||||||||||
1,745 | JP Morgan Chase Commercial Mortgage Securities Corp., Series 2006-CB17, Class A4 | 5.43 | 12/12/43 | 1,850 | ||||||||||||
1,300 | JP Morgan Chase Commercial Mortgage Securities Corp., Series 2007-CB18, Class A3 | 5.45 | 7/12/16 | 1,347 | ||||||||||||
1,745 | Morgan Stanley Capital I, Series 2007-HQ11, Class A4 (a) | 5.45 | 2/12/44 | 1,811 | ||||||||||||
1,310 | Morgan Stanley Capital I, Series 2007-IQ15, Class A4 (a) | 5.88 | 7/11/17 | 1,403 | ||||||||||||
1,745 | Wachovia Bank Commercial Mortgage Trust, Series 2007-C33, Class A4 (a) | 5.90 | 7/15/17 | 1,811 | ||||||||||||
Total Collateralized Mortgage Obligations | 11,454 | |||||||||||||||
See accompanying notes to financial statements
157
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Time Deposits — 0.72% | ||||||||||||||||
$ | 1,569 | State Street Liquidity Management Control System Time Deposit | 0.01 | 1/3/11 | $ | 1,569 | ||||||||||
Total Time Deposits | 1,569 | |||||||||||||||
Total Investments Before TBA Sale Commitments (cost $408,268) — 188.94% | 409,066 | |||||||||||||||
TBA Sale Commitments (see summary below) — (7.48)% | (16,198 | ) | ||||||||||||||
Liabilities in excess of other assets — (81.46)% | (176,366 | ) | ||||||||||||||
Net Assets — 100.00% | $ | 216,502 | ||||||||||||||
TBA Sale Commitments(c) — (7.48)% | ||||||||||||||||
$ | (13,500 | ) | Fannie Mae, 30 YR TBA | 4.50 | 2/25/41 | $ | (13,819 | ) | ||||||||
(700 | ) | Fannie Mae, 30 YR TBA | 5.50 | 1/25/41 | (749 | ) | ||||||||||
(1,500 | ) | Fannie Mae, 30 YR TBA | 6.00 | 1/25/41 | (1,630 | ) | ||||||||||
Total TBA Sale Commitments | $ | (16,198 | ) | |||||||||||||
(a) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2010. |
(b) | Rate disclosed represents effective yield at purchase. |
(c) | Represents a “to-be-announced” transaction. The Portfolio has committed to purchasing (selling) securities for which all specific information is not available at this time. (See Note 2 in Notes to Financial Statements). |
TBA — Security is subject to delayed delivery.
See accompanying notes to financial statements
158
Table of Contents
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds — 97.41% |
| |||||||||||||||
Alabama — 2.93% |
| |||||||||||||||
$ | 1,000 | Alabama State Federal Highway Finance Authority, Revenue, Series A, | 5.25 | 3/1/13 | $ | 1,045 | ||||||||||
California — 6.66% |
| |||||||||||||||
765 | California State, GO | 5.00 | 4/1/15 | 834 | ||||||||||||
1,500 | Los Angeles California Municipal Improvement Corporation Lease Revenue, Series C | 3.00 | 9/1/12 | 1,540 | ||||||||||||
2,374 | ||||||||||||||||
Florida — 17.07% |
| |||||||||||||||
1,250 | Florida Hurricane Catastrophe Fund Finance Corporation Revenue, Series A | 5.00 | 7/1/12 | 1,304 | ||||||||||||
1,000 | Florida State Board of Education, Series B, GO, Callable 1/1/12 @ 101.00 | 5.38 | 1/1/14 | 1,056 | ||||||||||||
1,250 | Jacksonville Florida Special Revenue, Series C-1 | 4.00 | 10/1/13 | 1,338 | ||||||||||||
500 | JEA Florida Electric System Revenue, Series 3-D-1 | 3.00 | 10/1/14 | 520 | ||||||||||||
735 | Lakeland Florida Light & Water Revenue, Series C (AGM) | 6.05 | 10/1/11 | 761 | ||||||||||||
1,000 | Orlando Florida Utilities Commission Utility System Revenue | 5.00 | 10/1/13 | 1,103 | ||||||||||||
6,082 | ||||||||||||||||
Illinois — 5.89% |
| |||||||||||||||
1,000 | Du Page & Will Counties Illinois Community School District No. 204, GO, | 5.25 | 12/30/12 | 1,047 | ||||||||||||
1,000 | Illinois State, Series A, GO, Callable 10/1/13 @ 100.00 | 5.25 | 10/1/14 | 1,052 | ||||||||||||
2,099 | ||||||||||||||||
Iowa — 3.45% |
| |||||||||||||||
1,150 | Iowa Finance Authority Revenue, State Revolving Fund, Callable 8/1/12 @ 100.00 | 5.25 | 8/1/13 | 1,229 | ||||||||||||
Kentucky — 4.62% |
| |||||||||||||||
1,500 | Kentucky State Property & Buildings Commission Revenues, Series A | 5.00 | 11/1/13 | 1,644 | ||||||||||||
Maryland — 0.96% |
| |||||||||||||||
325 | Maryland State Transportation Authority Grant & Revenue Anticipation | 5.00 | 3/1/12 | 342 | ||||||||||||
Michigan — 9.71% |
| |||||||||||||||
650 | Hamilton Michigan Community School District, GO (AGM, Q-SBLF) | 5.00 | 5/1/12 | 685 | ||||||||||||
1,500 | Michigan State Trunk Line Revenue (NATL-RE, FGIC) | 5.25 | 11/1/15 | 1,702 | ||||||||||||
1,000 | Michigan State, Series A, GO | 4.00 | 11/1/16 | 1,072 | ||||||||||||
3,459 | ||||||||||||||||
Nebraska — 3.08% |
| |||||||||||||||
1,000 | Nebraska Public Power District Revenue, Series A (NATL-RE, FGIC) | 5.00 | 1/1/14 | 1,098 | ||||||||||||
Nevada — 2.90% |
| |||||||||||||||
1,000 | Nevada State Colorado River Community, Series I, GO (AGM) | 5.00 | 9/15/11 | 1,032 | ||||||||||||
New York — 7.72% |
| |||||||||||||||
1,500 | New York City Transitional Finance Authority Revenue, Series D | 5.00 | 11/1/17 | 1,717 | ||||||||||||
1,000 | New York State Dormitory Authority Revenue School Districts Financing Program, | 5.25 | 10/1/11 | 1,033 | ||||||||||||
2,750 | ||||||||||||||||
Pennsylvania — 0.94% |
| |||||||||||||||
325 | Swarthmore Borough Authority Pennsylvania College Revenue | 5.00 | 9/15/11 | 335 | ||||||||||||
Tennessee — 2.91% |
| |||||||||||||||
1,000 | Memphis Tennessee, Series C, GO (XLCA) | 5.00 | 11/1/11 | 1,037 | ||||||||||||
See accompanying notes to financial statements
159
Table of Contents
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Shares or | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) |
| |||||||||||||||
Texas — 14.43% |
| |||||||||||||||
$ | 735 | Austin Texas Independent School District, Series A, GO | 3.00 | 8/1/14 | $ | 775 | ||||||||||
745 | College Station Texas, GO | 5.00 | 2/15/16 | 845 | ||||||||||||
1,500 | Mansfield Texas Independent School District, GO | 4.00 | 2/15/13 | 1,592 | ||||||||||||
1,285 | Texas State University Systems Financing Revenue, Series A | 4.00 | 3/15/14 | 1,388 | ||||||||||||
500 | Texas Tech University Revenue, Financing System, Series 9 (AMBAC) | 5.00 | 2/15/13 | 539 | ||||||||||||
5,139 | ||||||||||||||||
Utah — 1.44% |
| |||||||||||||||
500 | Murray City Utah School District, GO, Prerefunded 8/1/11 @ 100.00 | 5.00 | 8/1/13 | 513 | ||||||||||||
Washington — 6.91% |
| |||||||||||||||
1,250 | Energy Northwest Washington Electric Revenue, Columbia Generating Station, Series S | 5.00 | 7/1/15 | 1,420 | ||||||||||||
650 | Washington State, Series R-03-A, GO, Callable 1/1/12 @ 100.00 (NATL-RE) | 5.00 | 1/1/14 | 674 | ||||||||||||
350 | Washington State, Series R-03-A, GO, Prerefunded 1/1/12 @ 100.00 (NATL-RE) | 5.00 | 1/1/14 | 366 | ||||||||||||
2,460 | ||||||||||||||||
Wisconsin — 5.79% | ||||||||||||||||
1,475 | Dane County, Series A, GO | 3.00 | 6/1/12 | 1,516 | ||||||||||||
500 | Milwaukee Wisconsin, Series B-6, GO, Callable 10/1/13 @ 100.00 | 5.00 | 10/1/14 | 547 | ||||||||||||
2,063 | ||||||||||||||||
Total Municipal Bonds | 34,701 | |||||||||||||||
Mutual Funds — 1.44% | ||||||||||||||||
512,649 | SSgA Tax-Free Money Market Fund (a) | 0.01 | 513 | |||||||||||||
Total Mutual Funds | 513 | |||||||||||||||
Total Investments (cost $34,652) — 98.85% | 35,214 | |||||||||||||||
Other assets in excess of liabilities — 1.15% | 410 | |||||||||||||||
Net Assets — 100.00% | $ | 35,624 | ||||||||||||||
(a) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2010. |
AGM — Assured Guaranty Municipal Corporation
AMBAC — American Municipal Bond Assurance Corporation
FGIC — Financial Guaranty Insurance Company
GO — General Obligation
NATL-RE — Reinsurance provided by National Reinsurance
Q-SBLF — Qualified School Bond Loan Fund
XLCA — XL Capital Assurance, Inc.
See accompanying notes to financial statements
160
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds — 98.54% |
| |||||||||||||||
Alabama — 3.08% |
| |||||||||||||||
$ | 2,350 | Alabama State Public School & College Authority Revenue, Capital Improvement, Callable 12/1/17 @ 100.00 | 5.00 | 12/1/24 | $ | 2,452 | ||||||||||
2,500 | Alabama State Public School & College Authority Revenue, Capital Improvement, Series B, Callable 5/1/13 @ 103.00 | 5.00 | 5/1/14 | 2,762 | ||||||||||||
3,000 | Alabama State Public School & College Authority Revenue, Series A | 5.00 | 5/1/14 | 3,323 | ||||||||||||
1,500 | Alabama State Public School & College Authority Revenue, Series A | 5.00 | 5/1/18 | 1,699 | ||||||||||||
2,500 | Birmingham Alabama Waterworks Board Water Revenue, Series A, Callable 1/1/19 @ 100.00 (Assured GTY) | 5.00 | 1/1/21 | 2,621 | ||||||||||||
2,920 | Birmingham Alabama Waterworks Board Water Revenue, Series A, Callable 1/1/19 @ 100.00 (Assured GTY) | 5.00 | 1/1/22 | 3,021 | ||||||||||||
15,878 | ||||||||||||||||
Alaska — 0.47% |
| |||||||||||||||
2,265 | Alaska Industrial Development & Export Authority Revenue, Revolving Fund, Series A, Callable 4/1/20 @ 100.00 (General Obligation of Authority) | 5.25 | 4/1/22 | 2,424 | ||||||||||||
Arizona — 1.56% |
| |||||||||||||||
95 | Arizona Health Facilities Authority Hospital Systems Revenue, Phoenix Baptist Hospital & Medical, ETM | 6.25 | 9/1/11 | 97 | ||||||||||||
620 | Maricopa County Arizona Industrial Development Authority (GNMA) | 6.05 | 10/20/36 | 627 | ||||||||||||
250 | Oro Valley Arizona Oracle Road Improvement District | 5.00 | 1/1/13 | 266 | ||||||||||||
2,000 | Pima County Arizona Sewer System Revenue, Callable 7/1/20 @ 100.00 (AGM) | 5.00 | 7/1/23 | 2,075 | ||||||||||||
1,895 | Pinal County Arizona Certificates of Participation | 5.00 | 12/1/14 | 2,052 | ||||||||||||
2,420 | Pinal County Arizona Certificates of Participation | 5.25 | 12/1/15 | 2,616 | ||||||||||||
310 | Tucson & Pima Counties Arizona Industrial Development Authorities, Single Family Mortgage Revenue, Mortgage Backed Securities, Series A1, AMT (GNMA/FNMA/FHLMC) | 6.00 | 7/1/21 | 311 | ||||||||||||
8,044 | ||||||||||||||||
Arkansas — 0.46% |
| |||||||||||||||
835 | Arkansas State, Development Authority Economic Development Revenue, Series B, AMT, Unrefunded (ADFA/ADED) | 4.25 | 3/1/11 | 838 | ||||||||||||
25 | Arkansas State, Development Authority Economic Development Revenue, Series B, AMT, ETM, Pre-refunded (ADFA/ADED) | 4.25 | 3/1/11 | 25 | ||||||||||||
515 | Arkansas State, Development Authority Economic Development Revenue, Series B, AMT, Unrefunded (ADFA/ADED) | 4.25 | 3/1/13 | 530 | ||||||||||||
15 | Arkansas State, Development Authority Economic Development Revenue, Series B, AMT, ETM, Pre-refunded (ADFA/ADED) | 4.25 | 3/1/13 | 16 | ||||||||||||
450 | Fayetteville Arkansas Sales & Use Tax, Capital Improvements, Series B (MBIA) | 4.00 | 12/1/15 | 473 | ||||||||||||
500 | North Little Rock Arkansas Health Facilities Board of Health Care Revenue Baptist Health (CIFG) | 4.00 | 12/1/11 | 509 | ||||||||||||
2,391 | ||||||||||||||||
California — 17.93% |
| |||||||||||||||
685 | California Education Facilities Authority Revenue, University of San Diego (AMBAC) | 4.75 | 10/1/15 | 686 | ||||||||||||
4,400 | California State Department of Water Resources, Central Valley Project | 5.25 | 7/1/22 | 4,408 | ||||||||||||
5,950 | California State Department of Water Resources, Power Supply Revenue, Series L | 5.00 | 5/1/15 | 6,675 | ||||||||||||
5,000 | California State Economic Recovery, Series A, GO, Callable 7/1/19 @ 100.00 | 5.00 | 7/1/20 | 5,338 | ||||||||||||
1,000 | California State Public Works Board Lease Revenue, Department of Forestry & Fire, Series E | 5.00 | 11/1/22 | 976 | ||||||||||||
4,000 | California State Water Resource Development, Series M, GO | 4.90 | 10/1/14 | 4,008 | ||||||||||||
250 | California State, GO | 6.30 | 9/1/11 | 258 | ||||||||||||
5,000 | California State, GO, Callable 10/1/19 @ 100.00 | 5.25 | 10/1/20 | 5,298 | ||||||||||||
5,000 | California State, GO, Callable 4/1/19 @ 100.00 | 5.50 | 4/1/21 | 5,326 |
See accompanying notes to financial statements
161
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) |
| |||||||||||||||
California (continued) | ||||||||||||||||
$ | 5,000 | California State, GO | 5.00 | 8/1/21 | $ | 5,115 | ||||||||||
1,000 | California State, GO | 5.00 | 8/1/22 | 1,011 | ||||||||||||
250 | California State, GO | 5.00 | 11/1/22 | 254 | ||||||||||||
905 | California Statewide Communities Development Authority, Multi-Family, Pioneer Park, Series T, AMT (GNMA) | 6.10 | 12/20/20 | 925 | ||||||||||||
4,410 | Golden State Tobacco Securitization Corp. California Tobacco Settlement Revenue, Series A-1, Callable 6/1/17 @ 100.00 | 4.50 | 6/1/27 | 3,387 | ||||||||||||
3,037 | Knightsen School District Lease Certificates California, Flexfund Program | 4.75 | 12/1/27 | 2,701 | ||||||||||||
4,200 | Los Angeles California Harbor Department Revenue, Series B, AMT (NATL-RE/FGIC) | 5.00 | 8/1/16 | 4,576 | ||||||||||||
5,000 | Los Angeles California Harbor Department Revenue, Series C, Callable 8/1/19 @ 100.00 | 5.25 | 8/1/22 | 5,401 | ||||||||||||
5,000 | Sacramento County California Airport System Revenue, Series B, Callable 7/1/18 @ 100.00 | 5.00 | 7/1/23 | 5,135 | ||||||||||||
5,000 | San Diego California Public Facilities Financing Authority, Sewer Revenue, Series A, Callable 5/15/19 @ 100.00 | 5.00 | 5/15/23 | 5,218 | ||||||||||||
5,530 | San Francisco California City & County Airports Commission International Terminal Revenue, Series E, Callable 5/1/19 @ 100.00 | 5.25 | 5/1/23 | 5,788 | ||||||||||||
3,000 | San Francisco California City & County Public Utilities Commission, Water Revenue, Series B, | 5.00 | 11/1/26 | 3,093 | ||||||||||||
1,970 | Santa Ana California Financing Authority Revenue, South Harbor Boulevard, Series B (MBIA) | 5.13 | 9/1/19 | 1,921 | ||||||||||||
4,175 | Southern California Public Power Authority, Canyon Power Project Revenue, Series A, | 5.00 | 7/1/23 | 4,416 | ||||||||||||
5,000 | Southern California Public Power Authority, Windy Flats Project Revenue, Series 1, | 5.00 | 7/1/23 | 5,262 | ||||||||||||
2,500 | Tuolumne Wind Project Authority California Revenue, Series A, Callable 1/1/19 @ 100.00 | 5.25 | 1/1/24 | 2,606 | ||||||||||||
2,500 | University of California Revenue, Series Q, Callable 5/15/17 @ 101.00 | 5.25 | 5/15/23 | 2,683 | ||||||||||||
92,465 | ||||||||||||||||
Colorado — 0.86% |
| |||||||||||||||
865 | Colorado Educational & Cultural Facilities Authority Revenue (XLCA) | 5.00 | 6/15/14 | 904 | ||||||||||||
1,920 | Colorado Educational & Cultural Facilities Authority Revenue (XLCA) | 4.10 | 8/15/14 | 1,952 | ||||||||||||
1,505 | Colorado Health Facilities Authority Revenue, Boulder Community Hospital Project, Series A | 4.00 | 10/1/18 | 1,480 | ||||||||||||
102 | University of Colorado Registrants Participation Institutes | 6.00 | 12/1/13 | 108 | ||||||||||||
4,444 | ||||||||||||||||
Delaware — 0.48% |
| |||||||||||||||
2,340 | Delaware State Housing Authority Revenue, Single Family Mortgage, Series A, AMT (AGM) | 5.80 | 7/1/35 | 2,468 | ||||||||||||
District of Columbia — 0.51% |
| |||||||||||||||
435 | District of Columbia Housing Finance Agency, Single Family Mortgage, Series A, AMT (FNMA/GNMA) | 6.25 | 12/1/28 | 435 | ||||||||||||
2,000 | District of Columbia Income Tax Secured Revenue, Series A, Callable 12/1/19 @ 100.00 | 5.00 | 12/1/22 | 2,180 | ||||||||||||
2,615 | ||||||||||||||||
Florida — 12.37% |
| |||||||||||||||
2,290 | Broward County Florida Educational Facilities Authority Revenue, Nova Southeastern, Series B (RADIAN) | 6.25 | 4/1/15 | 2,343 | ||||||||||||
5,000 | Citizens Property Insurance Corp. Florida Revenue, Series A-1 | 6.00 | 6/1/16 | 5,459 | ||||||||||||
3,000 | Citizens Property Insurance Corp. Florida Revenue, Series A-1 | 5.25 | 6/1/17 | 3,136 | ||||||||||||
2,795 | Clearwater Florida Water & Sewer Revenue, Series B | 5.00 | 12/1/17 | 3,156 | ||||||||||||
1,690 | Escambia County Florida Housing Finance Authority, Single Family Mortgage Revenue | 4.63 | 10/1/28 | 1,741 | ||||||||||||
5,000 | Florida Hurricane Catastrophe Fund Finance Corp. Revenue, Series A | 5.00 | 7/1/15 | 5,378 | ||||||||||||
2,000 | Florida Hurricane Catastrophe Fund Finance Corp. Revenue, Series A | 5.00 | 7/1/16 | 2,153 |
See accompanying notes to financial statements
162
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) |
| |||||||||||||||
Florida (continued) | ||||||||||||||||
$ | 2,000 | Florida State Municipal Power Agency Revenue, Series A, Callable 10/1/19 @ 100.00 | 5.25 | 10/1/22 | $ | 2,107 | ||||||||||
1,500 | Florida State Turnpike Authority Revenue, Department of Transportation, Series A (AGM) | 5.00 | 7/1/13 | 1,635 | ||||||||||||
5,180 | Florida State Turnpike Authority Revenue, Department of Transportation, Series A | 5.00 | 7/1/14 | 5,736 | ||||||||||||
2,500 | Greater Orlando Aviation Authority, Florida Airport Facilities Revenue, Series A, AMT (AGM) | 5.00 | 10/1/14 | 2,732 | ||||||||||||
3,180 | Greater Orlando Aviation Authority, Florida Airport Facilities Revenue, Series A, AMT (AGM) | 5.00 | 10/1/15 | 3,488 | ||||||||||||
530 | Hillsborough County Florida Educational Facilities Authority Revenue, University of Tampa (RADIAN) | 5.75 | 4/1/18 | 526 | ||||||||||||
2,245 | Hillsborough County Florida Solid Waste & Resource Recovery Revenue, Series A, AMT, | 5.00 | 9/1/18 | 2,327 | ||||||||||||
4,475 | Hillsborough County Port District Revenue, Tampa Port Authority Project, Series A, AMT, | 5.00 | 6/1/19 | 4,426 | ||||||||||||
1,000 | Lakeland Florida Electric & Water Revenue, ETM | 5.75 | 10/1/19 | 1,085 | ||||||||||||
4,700 | Lakeland Florida Energy System Revenue, Series B (AGM) | 5.00 | 10/1/17 | 5,248 | ||||||||||||
1,675 | Miami-Dade County Florida Aviation Revenue, Miami International Airport, Series A, | 5.50 | 10/1/25 | 1,735 | ||||||||||||
4,240 | Miami-Dade County Florida Transit Sales Surtax Revenue, Series A (Assured GTY) | 5.00 | 7/1/15 | 4,722 | ||||||||||||
1,700 | Orlando Florida Utilities Commission Utility System Revenue | 5.00 | 10/1/15 | 1,928 | ||||||||||||
2,400 | Orlando Florida Utilities Commission Utility System Revenue, Series C | 5.00 | 10/1/14 | 2,689 | ||||||||||||
63,750 | ||||||||||||||||
Georgia — 1.88% |
| |||||||||||||||
3,650 | Atlanta Georgia Water & Wastewater Revenue, Series A, Callable 11/1/19 @ 100.00 | 6.00 | 11/1/21 | 4,118 | ||||||||||||
1,250 | Gwinnett County Georgia Development Authority Public School Project Certificates of Participation, Prerefunded 1/1/14 @ 100.00 (NATL-RE) | 5.25 | 1/1/20 | 1,401 | ||||||||||||
1,500 | Savannah Georgia Economic Development Authority Solid Waste Disposal Revenue, Waste Management Project, Series A, AMT | 5.50 | 7/1/16 | 1,598 | ||||||||||||
2,685 | Savannah Georgia Hospital Authority Revenue, St. Joseph/Candler Health System (RADIAN) | 5.25 | 7/1/23 | 2,569 | ||||||||||||
9,686 | ||||||||||||||||
Hawaii — 1.84% | ||||||||||||||||
6,100 | Hawaii State Airports System Revenue, Series B, AMT | 5.00 | 7/1/16 | 6,626 | ||||||||||||
210 | Hawaii State Housing Finance & Development, AMT (FNMA) | 5.20 | 7/1/12 | 210 | ||||||||||||
2,500 | Honolulu City & County Hawaii Wastewater System Revenue, Series A, Callable 7/1/19 @ 100.00 | 5.00 | 7/1/22 | 2,655 | ||||||||||||
9,491 | ||||||||||||||||
Idaho — 0.42% | ||||||||||||||||
1,745 | Idaho Housing & Finance Association, Single Family Mortgage Revenue, Series B, Class III, AMT | 5.40 | 7/1/28 | 1,751 | ||||||||||||
425 | Idaho Housing & Finance Association, Single Family Mortgage, Series E, Class III, AMT | 5.30 | 1/1/22 | 427 | ||||||||||||
2,178 | ||||||||||||||||
Illinois — 4.63% | ||||||||||||||||
190 | Addison Illinois Single Family Mortgage Revenue, ETM | 7.50 | 4/1/11 | 193 | ||||||||||||
535 | Chicago Illinois City Colleges, Chicago Capital Improvement (FGIC) | 6.00 | 1/1/11 | 535 | ||||||||||||
2,940 | Chicago Illinois Increment Allocation Revenue | 7.46 | 2/15/26 | 2,839 | ||||||||||||
500 | Cicero Illinois Tax Increment, Series A (XLCA) | 5.00 | 1/1/12 | 506 | ||||||||||||
2,280 | Highland Illinois Retirement Facility Revenue, Faith Care Project, Series A, SUB (GNMA) | 5.85 | 10/20/31 | 2,322 | ||||||||||||
165 | Illinois Development Finance Authority Revenue, Community Rehabilitation Providers | 5.70 | 7/1/12 | 165 |
See accompanying notes to financial statements
163
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The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) |
| |||||||||||||||
Illinois (continued) | ||||||||||||||||
$ | 1,600 | Illinois Educational Facilities Authority Revenue (a) | 5.55 | 7/1/14 | $ | 1,303 | ||||||||||
380 | Illinois Educational Facilities Authority Revenue, Art Institute of Chicago, Mandatory Put 3/1/14 @ 100.00 (b) | 4.25 | 3/1/34 | 390 | ||||||||||||
2,000 | Illinois State Toll Highway Authority Toll Highway Revenue, Series A-1, Callable 1/1/20 @ 100.00 | 5.00 | 1/1/25 | 2,017 | ||||||||||||
3,000 | Illinois State, GO, Callable 1/1/20 @ 100.00 | 5.00 | 1/1/22 | 2,887 | ||||||||||||
5,000 | Illinois State, Series B, GO | 5.00 | 1/1/16 | 5,250 | ||||||||||||
945 | Lake County Illinois Community School District, Unrefunded (AGM) (a) | 6.31 | 12/1/17 | 708 | ||||||||||||
695 | Lake County Illinois Community School District, ETM, Pre-refunded (AGM) (a) | 6.31 | 12/1/17 | 567 | ||||||||||||
180 | Lake County Illinois, School District No. 109, Series B, GO | 6.60 | 12/15/18 | 219 | ||||||||||||
1,000 | Railsplitter Tobacco Settlement Authority Illinois Revenue | 5.00 | 6/1/17 | 1,033 | ||||||||||||
1,585 | Railsplitter Tobacco Settlement Authority Illinois Revenue, Callable 6/1/21 @ 100.00 | 5.50 | 6/1/23 | 1,542 | ||||||||||||
380 | Rockford-Concord Commons Housing Finance Corp. Illinois Mortgage Revenue, | 6.15 | 11/1/22 | 380 | ||||||||||||
860 | Round Lake Beach Illinois Tax Increment Revenue | 4.65 | 12/15/13 | 862 | ||||||||||||
180 | Upper Illinois River Valley Development Authority, Solid Waste Disposal Revenue, AMT (c)(d) | 5.90 | 2/1/14 | 176 | ||||||||||||
23,894 | ||||||||||||||||
Indiana — 1.45% | ||||||||||||||||
2,000 | Indiana State Finance Authority Environmental Facilities Revenue, | 4.90 | 1/1/16 | 2,103 | ||||||||||||
1,655 | Indianapolis Indiana Thermal Energy System Revenue (AGM) | 5.00 | 10/1/17 | 1,832 | ||||||||||||
1,390 | Jasper Indiana Hospital Authority, Hospital Facility Revenue, Memorial Hospital Center Project (RADIAN) | 5.50 | 11/1/17 | 1,398 | ||||||||||||
2,000 | Shelbyville Indiana Central Renovation School Building Corp. Revenue, | 5.00 | 7/15/18 | 2,134 | ||||||||||||
7,467 | ||||||||||||||||
Louisiana — 1.18% | ||||||||||||||||
975 | Louisiana Housing Financial Agency Mortgage Revenue, Multi-Family Section 8- 202, Project A (HUD/FHA) | 4.15 | 12/1/12 | 999 | ||||||||||||
1,070 | Louisiana Housing Financial Agency Mortgage Revenue, Multi-Family Section 8- 202, Project A (HUD/FHA) | 4.25 | 12/1/14 | 1,094 | ||||||||||||
320 | Louisiana Local Government Environment Facilities, Community Development Authority Revenue, Jefferson Recreation & Cultural Project (AMBAC) | 4.13 | 4/1/19 | 320 | ||||||||||||
775 | Louisiana Local Government Environmental Facilities Community Development Authority, Series A, Callable 12/1/12 @ 102.00 (AMBAC) | 5.20 | 6/1/17 | 815 | ||||||||||||
2,871 | New Orleans Louisiana Home Mortgage Authority, ETM | 6.25 | 1/15/11 | 2,876 | ||||||||||||
6,104 | ||||||||||||||||
Maryland — 0.44% | ||||||||||||||||
1,250 | Maryland State Economic Development Corp. Revenue, Transportation Facilities Project, Series A, Callable 6/1/20 @ 100.00 | 5.38 | 6/1/25 | 1,186 | ||||||||||||
1,000 | Morgan State University Maryland Academic & Auxiliary Fees Revenue (MBIA) | 6.05 | 7/1/15 | 1,098 | ||||||||||||
2,284 | ||||||||||||||||
Massachusetts — 4.49% | ||||||||||||||||
3,180 | Massachusetts Bay Transportation Authority, Sales Tax Revenue, Series A | 5.25 | 7/1/28 | 3,395 | ||||||||||||
4,450 | Massachusetts Bay Transportation Authority, Sales Tax Revenue, Series C | 5.50 | 7/1/15 | 5,167 |
See accompanying notes to financial statements
164
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The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) |
| |||||||||||||||
Massachusetts (continued) | ||||||||||||||||
$ | 2,315 | Massachusetts State Development Finance Agency Revenue, Bentley University, | 5.00 | 7/1/21 | $ | 2,433 | ||||||||||
2,180 | Massachusetts State Development Finance Agency Revenue, Bentley University, | 5.00 | 7/1/22 | 2,270 | ||||||||||||
320 | Massachusetts State Development Finance Agency Revenue, Series A, | 6.70 | 10/20/21 | 352 | ||||||||||||
1,390 | Massachusetts State Health & Educational Facilities Authority Revenue, Massachusetts Eye & Ear Infirmary, Series C | 5.00 | 7/1/18 | 1,434 | ||||||||||||
1,250 | Massachusetts State Health & Educational Facilities Authority Revenue, Massachusetts Eye & Ear Infirmary, Series C | 5.00 | 7/1/19 | 1,267 | ||||||||||||
1,425 | Massachusetts State Health & Educational Facilities Authority Revenue, Massachusetts General Hospital, Series F (AMBAC) | 6.25 | 7/1/12 | 1,498 | ||||||||||||
4,170 | Massachusetts State Health & Educational Facilities Authority Revenue, Northeastern University, Series A | 5.00 | 10/1/17 | 4,662 | ||||||||||||
335 | Massachusetts State Housing Finance Agency (Radian) | 4.85 | 9/1/13 | 335 | ||||||||||||
340 | Massachusetts State Industrial Finance Agency, Revenue Bond, Retirement Facility, AMT (GNMA) | 5.30 | 6/20/19 | 340 | ||||||||||||
23,153 | ||||||||||||||||
Michigan — 2.92% | ||||||||||||||||
4,000 | Detroit Michigan Sewer Disposal System Revenue, Series C-1, Callable 7/1/19 @ 100.00 | 6.50 | 7/1/24 | 4,379 | ||||||||||||
1,435 | Kalamazoo Michigan Hospital Finance Authority Hospital Facilities Revenue, Borgess Medical Center, Series A, ETM (FGIC) | 5.00 | 6/1/13 | 1,479 | ||||||||||||
285 | Livonia Michigan Municipal Building Authority (AMBAC) | 4.00 | 5/1/16 | 302 | ||||||||||||
1,000 | Michigan State Hospital Finance Authority Revenue, Henry Ford Health System | 5.50 | 11/15/17 | 1,099 | ||||||||||||
1,175 | Michigan State Hospital Finance Authority Revenue, Series P, ETM (MBIA) | 5.38 | 8/15/14 | 1,263 | ||||||||||||
140 | Michigan State Hospital Finance Authority Revenue, St. John Hospital, Series A, | 6.00 | 5/15/13 | 144 | ||||||||||||
2,000 | Michigan State, Series A, GO | 5.00 | 11/1/19 | 2,207 | ||||||||||||
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 | 1,540 | ||||||||||||
2,500 | Wayne County Michigan Airport Authority Revenue, Detroit Metropolitan Airport, Series A, AMT | 5.00 | 12/1/14 | 2,626 | ||||||||||||
15,039 | ||||||||||||||||
Mississippi — 0.12% | ||||||||||||||||
620 | Jackson Mississippi Housing Authority, AMT | 5.30 | 4/1/19 | 620 | ||||||||||||
Missouri — 1.89% | ||||||||||||||||
545 | Grandview Missouri Certificates of Participation (FGIC) | 5.25 | 1/1/18 | 561 | ||||||||||||
250 | Missouri State Health & Educational Facilities Authority Revenue, Jefferson Memorial Hospital (RADIAN) | 4.13 | 8/15/12 | 249 | ||||||||||||
5,000 | Missouri State Highways & Transit Commission State Road Revenue, | 5.25 | 5/1/21 | 5,576 | ||||||||||||
2,960 | Missouri State Housing Development Commission Single-Family Mortgage Revenue, Home Ownership Loan Program, Series D, AMT (GNMA/FNMA) | 5.55 | 9/1/34 | 3,074 | ||||||||||||
285 | St. Charles County Missouri Health Care, AMT (LOC) | 5.40 | 11/15/16 | 285 | ||||||||||||
9,745 | ||||||||||||||||
Montana — 0.26% | ||||||||||||||||
1,250 | Montana Facilities Finance Authority Revenue, Benefits Health System (Assured GTY) | 5.00 | 1/1/13 | 1,322 | ||||||||||||
See accompanying notes to financial statements
165
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The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) |
| |||||||||||||||
Nebraska — 0.15% | ||||||||||||||||
$ | 475 | Nebraska Educational Finance Authority Revenue, Dana College, Series D (d) | 5.45 | 3/15/30 | $ | 166 | ||||||||||
765 | Nebraska Educational Finance Authority Revenue, Dana College, Series D (d) | 5.55 | 3/15/35 | 268 | ||||||||||||
1,000 | Nebraska Educational Financial Authority Revenue, Series A (d) | 5.50 | 3/15/25 | 350 | ||||||||||||
784 | ||||||||||||||||
Nevada — 1.11% | ||||||||||||||||
3,000 | Clark County Nevada Airport Revenue System, Series C, Callable 7/1/19 @ 100.00 (AGM) | 5.00 | 7/1/23 | 3,031 | ||||||||||||
2,250 | Clark County Nevada Airport Revenue System, Series D, Callable 1/1/20 @ 100.00 | 5.00 | 7/1/23 | 2,324 | ||||||||||||
370 | Nevada Housing Division, Multi-Unit Housing, Lake Vista Project, Series A, AMT (LOC) | 5.20 | 10/1/18 | 365 | ||||||||||||
5,720 | ||||||||||||||||
New Jersey — 2.90% | ||||||||||||||||
2,190 | Casino Reinvestment Development Authority, New Jersey Hotel Room Fee Revenue (AMBAC) | 5.00 | 1/1/13 | 2,238 | ||||||||||||
7,555 | Casino Reinvestment Development Authority, New Jersey Revenue, Series A (MBIA) | 5.00 | 6/1/16 | 7,677 | ||||||||||||
500 | New Jersey Economic Development Authority Revenue, Series A, | 6.38 | 4/1/31 | 585 | ||||||||||||
1,600 | New Jersey Health Care Facilities Financing Authority Revenue, Holy Name Medical Center | 5.00 | 7/1/16 | 1,663 | ||||||||||||
2,180 | New Jersey State Transportation Trust Fund Authority, Transportation System Revenue, Series C, | 5.50 | 6/15/21 | 2,422 | ||||||||||||
440 | Tobacco Settlement Financing Corp. Revenue, Series 1-A, Callable 6/1/17 @ 100.00 | 4.50 | 6/1/23 | 377 | ||||||||||||
14,962 | ||||||||||||||||
New York — 6.09% |
| |||||||||||||||
80 | Albany New York Housing Authority, Housing Revenue, Lark Drive Association Project, AMT (LOC) | 5.20 | 12/1/13 | 81 | ||||||||||||
3,545 | Metropolitan Transportation Authority Revenue, Dedicated Tax Fund, Series A-1 | 5.00 | 11/15/13 | 3,895 | ||||||||||||
1,435 | Metropolitan Transportation Authority Revenue, Series A-2 | 5.00 | 11/15/16 | 1,590 | ||||||||||||
2,000 | Metropolitan Transportation Authority Revenue, Series G | 5.00 | 11/15/17 | 2,192 | ||||||||||||
2,500 | New York City Health & Hospital Corp. Revenue, Health System, Series A, | 5.00 | 2/15/22 | 2,604 | ||||||||||||
5,000 | New York City Transitional Finance Authority Revenue, Series B | 5.00 | 11/1/17 | 5,722 | ||||||||||||
2,285 | New York State Dormitory Authority Lease Revenue, Court Facilities, Series A | 5.75 | 5/15/14 | 2,490 | ||||||||||||
325 | New York State Housing Finance Agency Revenue, Multi-Family Housing, Northfield Apartment, Series A (SONYMA) | 4.30 | 8/15/14 | 339 | ||||||||||||
1,230 | New York State Housing Finance Agency Revenue, St. Philips Housing, Series A (FNMA) | 4.05 | 11/15/16 | 1,238 | ||||||||||||
3,250 | New York State, Series B, GO | 5.00 | 8/1/17 | 3,664 | ||||||||||||
1,250 | New York State, Series E, GO | 5.00 | 8/1/19 | 1,390 | ||||||||||||
5,520 | New York State, Series E, GO, Callable 8/1/19 @ 100.00 | 5.00 | 8/1/21 | 5,963 | ||||||||||||
200 | Triborough Bridge & Tunnel Authority New York Revenue, General Purposes, Series A (General Obligation of Authority) | 5.20 | 1/1/20 | 211 | ||||||||||||
31,379 | ||||||||||||||||
North Carolina — 1.18% |
| |||||||||||||||
2,500 | Mecklenburg County North Carolina, Series C, GO | 5.00 | 3/1/15 | 2,850 | ||||||||||||
2,350 | North Carolina Eastern Municipal Power Agency Power System Revenue, Series A | 5.00 | 1/1/21 | 2,456 | ||||||||||||
755 | North Carolina Medical Care Community Revenue, Health Care, Series A | 4.65 | 10/1/14 | 759 | ||||||||||||
6,065 | ||||||||||||||||
See accompanying notes to financial statements
166
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HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) |
| |||||||||||||||
North Dakota — 0.57% |
| |||||||||||||||
$ | 1,250 | Fargo North Dakota Health Systems Revenue, Meritcare Hospital, Group A (MBIA) | 5.60 | 6/1/13 | $ | 1,261 | ||||||||||
1,650 | Fargo North Dakota Health Systems Revenue, Meritcare Hospital, Group A (MBIA) | 5.55 | 6/1/16 | 1,664 | ||||||||||||
2,925 | ||||||||||||||||
Ohio — 3.89% |
| |||||||||||||||
1,000 | Akron Bath Copley Ohio Joint Township Hospital District Revenue, Hospital Facilities, | 5.00 | 11/15/12 | 1,046 | ||||||||||||
6,535 | Kent State University Revenue, Series B, Callable 5/1/19 @ 100.00 (Assured GTY) | 5.00 | 5/1/22 | 6,946 | ||||||||||||
300 | Knox County Ohio Hospital Facilities Revenue, Knox Community Hospital (Asset GTY) | 5.00 | 6/1/12 | 306 | ||||||||||||
990 | Mahoning County Ohio Hospital Facilities Revenue, Western Reserve Care System, ETM (MBIA) | 5.50 | 10/15/25 | 1,123 | ||||||||||||
3,500 | Ohio State Higher Education Facility Revenue, Kenyon College Project, | 4.70 | 7/1/37 | 3,822 | ||||||||||||
250 | Ohio State Higher Education Facility Revenue, Kenyon College Project, | 4.95 | 7/1/37 | 270 | ||||||||||||
500 | Ohio State Higher Education Facility Revenue, Mount Union College Project | 5.25 | 10/1/21 | 522 | ||||||||||||
4,000 | Ohio State Water Development Authority Water Pollution Control Revenue, Water Quality, Series A, Callable 12/1/19 @ 100.00 | 5.00 | 12/1/23 | 4,353 | ||||||||||||
780 | Port of Greater Cincinnati Ohio Development Authority, Economic Development Revenue | 5.00 | 10/1/25 | 706 | ||||||||||||
210 | Stark County Ohio Health Care Facility Review (GNMA) | 5.30 | 7/20/18 | 212 | ||||||||||||
230 | Stark County Ohio Health Care Facility Review (GNMA) | 5.35 | 7/20/23 | 231 | ||||||||||||
630 | Summit County Ohio Port Authority, Building Fund Progress Development Revenue, Twinsburg Township Project, Series D | 5.13 | 5/15/25 | 524 | ||||||||||||
20,061 | ||||||||||||||||
Oklahoma — 0.05% |
| |||||||||||||||
250 | Canadian County Oklahoma Home Financing Authority, Single Family Mortgage, Series A (GNMA) | 6.70 | 9/1/32 | 260 | ||||||||||||
Pennsylvania — 6.19% |
| |||||||||||||||
1,310 | Allegheny County Pennsylvania Residential Finance Authority, Single Family Mortgage, | 5.75 | 5/1/33 | 1,257 | ||||||||||||
2,525 | Allegheny County Pennsylvania Sanitation Authority Sewer Revenue, | 5.00 | 6/1/24 | 2,596 | ||||||||||||
395 | Chester County Pennsylvania Health & Education Facilities Authority Revenue, | 5.00 | 11/1/24 | 374 | ||||||||||||
140 | Delaware County Pennsylvania Authority Health Care Revenue, Mercy Health Corp., | 5.13 | 11/15/12 | 140 | ||||||||||||
2,825 | Delaware Valley Pennsylvania Regional Finance Authority, Local Government Revenue, Series A (AMBAC) | 5.50 | 8/1/28 | 2,766 | ||||||||||||
165 | McKeesport Pennsylvania Area School District, ETM (AGM) | 5.00 | 4/1/13 | 171 | ||||||||||||
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 | 1,255 | ||||||||||||
2,500 | Pennsylvania Intergovernmental Cooperative Authority, Special Tax Revenue | 5.00 | 6/15/18 | 2,837 | ||||||||||||
680 | Pennsylvania State Higher Educational Facilities Authority Revenue (RADIAN) | 5.25 | 11/1/18 | 688 | ||||||||||||
5,000 | Pennsylvania State Higher Educational Facilities Authority Revenue, University of Pennsylvania, | 5.00 | 9/1/17 | 5,755 | ||||||||||||
310 | Pennsylvania State Higher Educational Facilities Authority, Health Services Revenue, Allegheny Delaware Valley Obligation Group (MBIA) | 5.88 | 11/15/16 | 303 | ||||||||||||
1,000 | Pennsylvania State Higher Educational Facilities, St. Joseph’s University (RADIAN) | 5.25 | 12/15/18 | 1,017 |
See accompanying notes to financial statements
167
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HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) |
| |||||||||||||||
Pennsylvania (continued) | ||||||||||||||||
$ | 800 | Philadelphia Pennsylvania Hospitals & Higher Education Facilities, Health Systems, | 5.38 | 1/1/28 | $ | 802 | ||||||||||
950 | Philadelphia Pennsylvania Municipal Authority Revenue, Series B (AGM) | 5.25 | 11/15/15 | 1,014 | ||||||||||||
2,500 | Philadelphia Pennsylvania School District, Series C, GO (State Aid Withholding) | 5.00 | 9/1/14 | 2,715 | ||||||||||||
3,650 | Philadelphia Pennsylvania Water & Wastewater Revenue, Series A | 5.00 | 6/15/15 | 4,012 | ||||||||||||
810 | Pittsburgh Pennsylvania Urban Redevelopment Authority, Multi-Family Mortgage Revenue (GNMA) | 5.35 | 12/20/26 | 816 | ||||||||||||
1,000 | St. Mary Hospital Authority, Pennsylvania Health System Revenue, Catholic Health East, Series B, Callable 11/15/14 @ 100.00 | 5.38 | 11/15/34 | 1,149 | ||||||||||||
2,000 | University of Pittsburgh Revenue, Commonwealth Systems of Higher Education, Series B, | 5.50 | 9/15/21 | 2,263 | ||||||||||||
31,930 | ||||||||||||||||
Puerto Rico — 3.48% | ||||||||||||||||
4,950 | Puerto Rico Commonwealth Infrastructure Financing Authority Special Tax Revenue, | 5.50 | 7/1/26 | 4,849 | ||||||||||||
2,500 | Puerto Rico Electric Power Authority Power Revenue, Series DDD, Callable 7/1/20 @ 100.00 | 5.00 | 7/1/22 | 2,568 | ||||||||||||
4,000 | Puerto Rico Public Buildings Authority Revenue Guaranteed, Government Facilities, Series H (XLCA) | 5.25 | 7/1/13 | 4,274 | ||||||||||||
6,000 | Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue, Series A, Callable 8/1/19 @ 100.00 | 5.50 | 8/1/23 | 6,262 | ||||||||||||
17,953 | ||||||||||||||||
South Carolina — 1.20% | ||||||||||||||||
1,930 | Charleston South Carolina Waterworks & Sewer Revenue, Capital Improvement | 5.13 | 1/1/15 | 2,190 | ||||||||||||
365 | Columbia South Carolina Water & Sewer, ETM | 7.75 | 1/1/11 | 365 | ||||||||||||
3,500 | Piedmont Municipal Power Agency Electric Revenue, Series A-2, Callable 1/1/21 @ 100.00 | 5.00 | 1/1/22 | 3,622 | ||||||||||||
6,177 | ||||||||||||||||
South Dakota — 0.09% | ||||||||||||||||
395 | Heartland Consumers Power District South Dakota Electric Revenue, ETM | 6.38 | 1/1/16 | 443 | ||||||||||||
Tennessee — 0.81% | ||||||||||||||||
90 | Johnson City Tennessee Health & Education, ETM | 7.00 | 7/1/11 | 93 | ||||||||||||
3,050 | Memphis Tennessee Electric Systems Revenue, SUB | 5.00 | 12/1/17 | 3,487 | ||||||||||||
590 | Metro Government Nashville & Davidson County Tennessee, Water & Sewer Revenue (FGIC) | 7.70 | 1/1/12 | 609 | ||||||||||||
4,189 | ||||||||||||||||
Texas — 5.44% | ||||||||||||||||
1,000 | Austin Texas Electricity Utility System Revenue, Series A, Callable 11/15/20 @ 100.00 | 5.00 | 11/15/24 | 1,050 | ||||||||||||
910 | Bexar County Texas Housing Finance Corp., Multi-Family Housing Revenue, Perkin Square Project, Series A-1, (GNMA) | 6.55 | 12/20/34 | 960 | ||||||||||||
4,260 | Fort Worth Texas General Purpose, GO | 5.00 | 3/1/15 | 4,823 | ||||||||||||
5,000 | Fort Worth Texas Independent School District, GO, Callable 2/15/18 @ 100.00 (PSF-GTD) | 5.00 | 2/15/21 | 5,505 | ||||||||||||
3,275 | Fort Worth Texas Water & Sewer Revenue | 5.00 | 2/15/16 | 3,741 | ||||||||||||
635 | Retama Texas Development Corp., Special Facilities Revenue, ETM | 8.75 | 12/15/11 | 682 | ||||||||||||
1,945 | Retama Texas Development Corp., Special Facilities Revenue, ETM | 10.00 | 12/15/17 | 2,788 | ||||||||||||
2,345 | Retama Texas Development Corp., Special Facilities Revenue, ETM | 8.75 | 12/15/18 | 3,254 | ||||||||||||
2,500 | San Antonio Texas Electricity & Gas Revenue, Series D | 5.00 | 2/1/18 | 2,859 | ||||||||||||
2,065 | Texas State College Student Loan, GO | 5.00 | 8/1/16 | 2,380 | ||||||||||||
28,042 | ||||||||||||||||
See accompanying notes to financial statements
168
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) |
| |||||||||||||||
Utah — 1.42% | ||||||||||||||||
$ | 525 | Salt Lake County Utah College Revenue, Westminster College Project | 4.50 | 10/1/12 | $ | 542 | ||||||||||
410 | Salt Lake County Utah College Revenue, Westminster College Project | 4.50 | 10/1/15 | 426 | ||||||||||||
3,000 | Utah County Environmental Improvement Revenue, Marathon Oil Project | 5.05 | 11/1/17 | 3,058 | ||||||||||||
385 | Utah Housing Corp., Single Family Mortgage, Series D-2, Class III, SUB, AMT | 5.00 | 7/1/18 | 386 | ||||||||||||
2,500 | Utah State, Series C, GO | 5.00 | 7/1/18 | 2,919 | ||||||||||||
7,331 | ||||||||||||||||
Virginia — 1.32% | ||||||||||||||||
1,000 | Loudoun County Virginia, Series A, GO (State Aid Withholding) | 5.00 | 7/1/14 | 1,128 | ||||||||||||
3,050 | Virginia Beach Development Authority Public Facility Revenue, Series A | 5.00 | 5/1/15 | 3,448 | ||||||||||||
2,000 | Virginia State Public Building Authority Public Facilities Revenue, Series A | 5.00 | 8/1/14 | 2,239 | ||||||||||||
6,815 | ||||||||||||||||
Washington — 2.80% | ||||||||||||||||
1,000 | Energy Northwest Washington Electric Revenue, Columbia Generating, Series D | 5.00 | 7/1/12 | 1,063 | ||||||||||||
3,000 | Energy Northwest Washington Electric Revenue, Columbia Station, Series A, | 5.00 | 7/1/21 | 3,226 | ||||||||||||
3,500 | Energy Northwest Washington Electric Revenue, Columbia Station, Series A, | 5.00 | 7/1/23 | 3,713 | ||||||||||||
3,500 | Energy Northwest Washington Electric Revenue, Project 3, Series A | 5.25 | 7/1/18 | 4,065 | ||||||||||||
1,735 | King County Washington Housing Authority Revenue, Vashon Community Center, Series A, SUB (GNMA) | 7.25 | 9/20/42 | 1,877 | ||||||||||||
460 | Spokane Washington Housing Authority, Cheney Care Center Revenue, Series A (GNMA) | 6.35 | 8/20/39 | 479 | ||||||||||||
14,423 | ||||||||||||||||
Wisconsin — 0.61% | ||||||||||||||||
3,000 | Wisconsin State Health & Educational Facilities, Hudson Memorial Hospital (FHA) | 5.60 | 7/15/22 | 3,131 | ||||||||||||
Total Municipal Bonds | 508,052 | |||||||||||||||
Corporate Bonds — 0.0% | ||||||||||||||||
Diversified Financial Services — 0.0% | ||||||||||||||||
3,939 | ASC Equipment (c)(e)(f) | — | 3/1/08 | — | ||||||||||||
Total Corporate Bonds | — | |||||||||||||||
Time Deposits — 0.12% | ||||||||||||||||
637 | State Street Liquidity Management Control System Time Deposit | 0.01 | 1/3/11 | 637 | ||||||||||||
Total Time Deposits | 637 | |||||||||||||||
Total Investments (cost $512,218) — 98.66% | 508,689 | |||||||||||||||
Other assets in excess of liabilities — 1.34% | 6,915 | |||||||||||||||
Net Assets — 100.00% | $ | 515,604 | ||||||||||||||
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Zero Coupon Security. Effective rate shown is as of December 31, 2010. |
(b) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2010. The maturity date represents actual maturity date. |
(c) | Escrow security due to bankruptcy. |
See accompanying notes to financial statements
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HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
(d) | Issuer has defaulted on the payment of interest. The securities have been deemed illiquid by the Specialist Manager and represent 0.15% of the Portfolio. |
(e) | Issuer has defaulted on the payment of principal and interest. The securities have been deemed illiquid by the Specialist Manager and represent 0.03% of the Portfolio. |
(f) | The security was originally issued with a coupon rate of 5.125%. |
ADFA/ADED — Arkansas Development Finance Authority / Arkansas Department of Economic Development
AGM — Assured Guaranty Municipal Corporation
AMBAC — American Municipal Bond Assurance Corporation
AMT — Alternative Minimum Tax
CIFG — CDC IXIS Financial Guaranty
ETM — Escrowed to Maturity
FGIC — Financial Guaranty Insurance Company
FHA — Federal Housing Administration
FHLMC — Federal Home Loan Mortgage Corp.
FNMA — Federal National Mortgage Association
GNMA — Government National Mortgage Association
GO — General Obligation
GTY — Guaranty
HUD — Housing and Urban Development
LOC — Letter of Credit
MBIA — Municipal Bond Insurance Association
MBIA-IBC — MBIA Insured Bond Certificate
NATL-RE — Reinsurance provided by National Reinsurance
PSF-GTD — Permanent School Fund Guaranteed
RADIAN — Radian Group, Inc.
SONYMA — State of New York Mortgage Agency
SUB — Subordinate Bond
XLCA — XL Capital Assurance, Inc.
See accompanying notes to financial statements
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HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments — December 31, 2010 (Unaudited)
Principal | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds — 95.55% | ||||||||||||||||
Alabama — 7.19% | ||||||||||||||||
$ | 2,000 | Alabama State Public School & College Authority Revenue, Series A | 5.00 | 5/1/19 | $ | 2,253 | ||||||||||
1,015 | Foley Utilities Board Utilities Revenue | 3.00 | 11/1/13 | 1,054 | ||||||||||||
1,050 | Foley Utilities Board Utilities Revenue | 4.00 | 11/1/14 | 1,126 | ||||||||||||
4,433 | ||||||||||||||||
California — 2.56% | ||||||||||||||||
1,500 | Los Angeles California Unified School District, Series A-2, GO, | 5.00 | 7/1/19 | 1,577 | ||||||||||||
Florida — 12.41% | ||||||||||||||||
1,100 | Broward County Airport System Revenue, Series L (AMBAC) | 5.00 | 10/1/13 | 1,188 | ||||||||||||
2,050 | Florida Water Pollution Control Financing Corp. Revenue, Series A | 5.00 | 7/15/16 | 2,330 | ||||||||||||
1,650 | JEA Florida Electric System Revenue, Series A | 5.00 | 10/1/15 | 1,859 | ||||||||||||
1,000 | Miami-Dade County Florida Water & Sewer Revenue, Series B (AGM) | 5.25 | 10/1/20 | 1,131 | ||||||||||||
1,000 | Palm Beach County Florida Public Improvement Revenue, Series 2 | 5.00 | 11/1/16 | 1,141 | ||||||||||||
7,649 | ||||||||||||||||
Hawaii — 5.40% | ||||||||||||||||
1,585 | Honolulu City & County Hawaii, Series B, GO (NATL-RE) | 5.00 | 7/1/12 | 1,683 | ||||||||||||
1,500 | Honolulu City & County Hawaii, Series B, GO, Callable 12/1/20 @ 100.00 | 5.00 | 12/1/23 | 1,641 | ||||||||||||
3,324 | ||||||||||||||||
Illinois — 4.07% | ||||||||||||||||
2,000 | Cook County Illinois, Series B, GO, Callable 11/15/13 @ 100.00 (NATL-RE) | 5.25 | 11/15/16 | 2,174 | ||||||||||||
320 | Northbrook Illinois, GO | 3.00 | �� | 12/1/15 | 335 | |||||||||||
2,509 | ||||||||||||||||
Kentucky — 3.60% | ||||||||||||||||
2,005 | Kentucky State Property & Buildings Commission Revenues | 5.00 | 8/1/14 | 2,219 | ||||||||||||
Maine — 2.61% | ||||||||||||||||
1,500 | Maine Municipal Bond Bank Grant Anticipation Revenue, Department of Transportation, Series A | 4.00 | 9/1/14 | 1,606 | ||||||||||||
Maryland — 3.37% | ||||||||||||||||
1,830 | Maryland State Transportation Authority Revenue, Transportation Facilities Project, Series A | 5.00 | 7/1/19 | 2,079 | ||||||||||||
Massachusetts — 5.42% | ||||||||||||||||
2,000 | Massachusetts Bay Transportation Authority Sales Tax Revenue, Series B | 5.25 | 7/1/21 | 2,290 | ||||||||||||
1,000 | Massachusetts State Water Pollution Abatement Trust Revenue, Series A | 5.25 | 2/1/12 | 1,051 | ||||||||||||
3,341 | ||||||||||||||||
Michigan — 3.51% | ||||||||||||||||
1,000 | Grand Rapids Michigan Community College, GO (AGM) | 5.00 | 5/1/18 | 1,135 | ||||||||||||
1,000 | Michigan State Trunk Line Fund Revenue, Series B (AGM) | 5.00 | 9/1/11 | 1,028 | ||||||||||||
2,163 | ||||||||||||||||
Nevada — 1.71% | ||||||||||||||||
1,000 | Nevada State, Capital Improvement, Series A, GO, Callable 2/1/15 @ 100.00 | 5.00 | 2/1/19 | 1,052 | ||||||||||||
Ohio — 1.87% | ||||||||||||||||
1,000 | Ohio State, Series B, GO | 5.00 | 9/15/17 | 1,151 | ||||||||||||
Oklahoma — 4.37% | ||||||||||||||||
2,350 | Oklahoma State Capitol Improvement Authority State Facilities Revenue, Series A | 5.00 | 7/1/17 | 2,691 | ||||||||||||
See accompanying notes to financial statements
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HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments (concluded) — December 31, 2010 (Unaudited)
Shares or | Rate % | Maturity Date | Value (000) | |||||||||||||
Municipal Bonds (continued) |
| |||||||||||||||
Pennsylvania — 3.24% | ||||||||||||||||
$ | 1,750 | Pennsylvania State, Series A, GO | 5.00 | 5/1/20 | $ | 1,999 | ||||||||||
South Carolina — 3.92% | ||||||||||||||||
1,100 | Richland County School District No. 2, Series A, GO, Callable 2/1/19 @ 100.00 (SCSDE) | 5.00 | 2/1/20 | 1,241 | ||||||||||||
1,085 | South Carolina State Public Service Authority Revenue, Series D, | 5.25 | 1/1/14 | 1,174 | ||||||||||||
2,415 | ||||||||||||||||
Texas — 7.23% | ||||||||||||||||
1,435 | Sugar Land Texas, GO, Callable 2/15/19 @ 100.00 | 5.00 | 2/15/21 | 1,589 | ||||||||||||
1,800 | Texas State University Systems Financing Revenue | 5.00 | 3/15/17 | 2,057 | ||||||||||||
750 | Webb County Texas, GO | 4.50 | 2/15/19 | 812 | ||||||||||||
4,458 | ||||||||||||||||
Utah — 1.88% | ||||||||||||||||
1,050 | Intermountain Power Agency Power Supply Revenue, Series A, Callable 7/1/14 @ 100.00 | 5.00 | 7/1/16 | 1,156 | ||||||||||||
Washington — 15.31% | ||||||||||||||||
2,000 | King County Washington Sewer Revenue | 5.00 | 1/1/20 | 2,261 | ||||||||||||
1,000 | King County Washington, GO | 5.25 | 1/1/23 | 1,129 | ||||||||||||
1,580 | Port of Seattle Washington Revenue, Intermediate Lien, Series B | 5.00 | 6/1/18 | 1,763 | ||||||||||||
1,500 | Tacoma Washington Water Revenue, Series A, Callable 6/1/20 @ 100.00 | 5.00 | 12/1/22 | 1,641 | ||||||||||||
2,300 | Washington State, GO, Series R-2011-A | 5.00 | 1/1/18 | 2,640 | ||||||||||||
9,434 | ||||||||||||||||
Wisconsin — 5.88% | ||||||||||||||||
875 | D C Everest Area School District, GO, Callable 4/1/15 @ 100.00 (AGM) | 5.00 | 4/1/17 | 967 | ||||||||||||
1,220 | Menomonee Falls Wisconsin School District, GO, Callable 4/1/17 @ 100.00 (NATL-RE, FGIC) | 4.75 | 4/1/21 | 1,296 | ||||||||||||
1,200 | Wisconsin State, Series C, GO | 5.00 | 5/1/15 | 1,360 | ||||||||||||
3,623 | ||||||||||||||||
Total Municipal Bonds | 58,879 | |||||||||||||||
Mutual Funds — 2.96% | ||||||||||||||||
1,825,243 | SSgA Tax-Free Money Market Fund (a) | 0.01 | 1,825 | |||||||||||||
Total Mutual Funds | 1,825 | |||||||||||||||
Total Investments (cost $61,996) — 98.51% | 60,704 | |||||||||||||||
Other assets in excess of liabilities — 1.49% | 917 | |||||||||||||||
Net Assets — 100.00% | $ | 61,621 | ||||||||||||||
(a) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2010. |
AGM — Assured Guaranty Municipal Corporation
AMBAC — American Municipal Bond Assurance Corporation
FGIC — Financial Guaranty Insurance Company
GO — General Obligation
NATL-RE — Reinsurance provided by National Reinsurance
SCSDE — Insured by South Carolina School Discount Enhancement
See accompanying notes to financial statements
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HC CAPITAL TRUST
Statements of Assets and Liabilities
As of December 31, 2010 (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 | $ | 420,315 | $ | 751,603 | $ | 507,189 | $ | 914,244 | ||||||||
Unrealized appreciation (depreciation) | 98,234 | 103,040 | 206,817 | 181,530 | ||||||||||||
Investments, at value | 518,549 | 854,643 | 714,006 | 1,095,774 | ||||||||||||
Cash | — | — | — | 1,287 | ||||||||||||
Foreign currency, at value (Cost $0, $30, $0, $61, respectively) | — | 31 | — | 63 | ||||||||||||
Unrealized appreciation on forward currency contracts | — | 419 | — | 547 | ||||||||||||
Unrealized appreciation on interest rate swap agreements | — | 346 | — | 442 | ||||||||||||
Dividends and interest receivable | 725 | 1,578 | 690 | 1,595 | ||||||||||||
Receivable for Portfolio shares issued | 294 | 56 | 40 | 78 | ||||||||||||
Receivable from investments sold | 3,247 | 28,300 | 1,519 | 32,476 | ||||||||||||
Swaps premium paid | — | 77 | — | 101 | ||||||||||||
Foreign tax reclaims receivable | 153 | 37 | 186 | 93 | ||||||||||||
TBA sale commitments receivable | — | 27,975 | — | 35,496 | ||||||||||||
Segregated cash for collateral | — | — | — | 117 | ||||||||||||
Variation margin receivable on futures contracts | — | 1 | — | — | ||||||||||||
Prepaid expenses | 20 | 31 | 24 | 38 | ||||||||||||
Total Assets | 522,988 | 913,494 | 716,465 | 1,168,107 | ||||||||||||
LIABILITIES: | ||||||||||||||||
Cash overdraft | 178 | 632 | 216 | — | ||||||||||||
TBA sale commitments, at fair value | — | 28,025 | — | 35,560 | ||||||||||||
Written Options, at fair value (premiums received $0, $106, $0, $135, respectively) | — | 162 | — | 209 | ||||||||||||
Unrealized depreciation on forward currency contracts | — | 152 | — | 187 | ||||||||||||
Unrealized depreciation on interest rate swap agreements | — | 2 | — | 3 | ||||||||||||
Payable for investments purchased | 2,659 | 18,973 | 744 | 20,425 | ||||||||||||
Payable for Portfolio shares redeemed | 31 | 195 | 255 | 152 | ||||||||||||
Payable to broker for futures collateral | — | 553 | — | 1,355 | ||||||||||||
Variation margin payable on futures contracts | 2 | 175 | — | 231 | ||||||||||||
Advisory fees payable | 169 | 296 | 279 | 411 | ||||||||||||
Management fees payable | 22 | 37 | 32 | 47 | ||||||||||||
Administrative services fees payable | 4 | 4 | 4 | 6 | ||||||||||||
Other accrued expenses | 63 | 39 | 68 | 14 | ||||||||||||
Total Liabilities | 3,128 | 49,245 | 1,598 | 58,600 | ||||||||||||
NET ASSETS: | $ | 519,860 | $ | 864,249 | $ | 714,867 | $ | 1,109,507 | ||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 43 | $ | 70 | $ | 55 | $ | 84 | ||||||||
Additional paid-in capital | 729,511 | 817,866 | 788,610 | 996,224 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | (25 | ) | 782 | 4 | 1,303 | |||||||||||
Accumulated realized gains/(losses) from investments, futures, written options, swaps and foreign currency transactions | (307,930 | ) | (63,002 | ) | (280,632 | ) | (76,693 | ) | ||||||||
Net unrealized appreciation/(depreciation) on investments, futures, written options, swaps and foreign currency translations | 98,261 | 108,533 | 206,830 | 188,589 | ||||||||||||
Net Assets | $ | 519,860 | $ | 864,249 | $ | 714,867 | $ | 1,109,507 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 519,256 | $ | 863,130 | $ | 714,137 | $ | 1,108,214 | ||||||||
HC Advisors Shares | 604 | 1,119 | 730 | 1,293 | ||||||||||||
Total | $ | 519,860 | $ | 864,249 | $ | 714,867 | $ | 1,109,507 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
(Unlimited number of shares authorized, par value $0.001): | ||||||||||||||||
HC Strategic Shares | 43,456 | 69,659 | 55,002 | 83,751 | ||||||||||||
HC Advisors Shares | 51 | 90 | 56 | 98 | ||||||||||||
Total | 43,507 | 69,749 | 55,058 | 83,849 | ||||||||||||
Net Asset Value, offering and redemption price per share(a) | ||||||||||||||||
HC Strategic Shares | $ | 11.95 | $ | 12.39 | $ | 12.98 | $ | 13.23 | ||||||||
HC Advisors Shares | $ | 11.95 | $ | 12.40 | $ | 12.97 | $ | 13.23 | ||||||||
Amounts designated as “—” are $0 or have been rounded to $0. |
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
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HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2010 (Unaudited)
(Amounts in thousands except per share amounts)
The Small Capitalization Equity Portfolio | The Institutional Small Capitalization Equity Portfolio | The Real Estate Securities Portfolio | The Commodity Related Securities Portfolio | |||||||||||||
ASSETS: | ||||||||||||||||
Investments, at cost | $ | 112,630 | $ | 170,366 | $ | 207,330 | $ | 195,250 | ||||||||
Unrealized appreciation (depreciation) | 26,028 | 36,834 | 58,185 | 35,670 | ||||||||||||
Investments, at value | 138,658 | 207,200 | 265,515 | 230,920 | ||||||||||||
Dividends and interest receivable | 135 | 201 | 705 | 112 | ||||||||||||
Receivable for Portfolio shares issued | — | 16 | 20 | 157 | ||||||||||||
Receivable from investments sold | 335 | 161 | 1,269 | 189 | ||||||||||||
Foreign tax reclaims receivable | — | — | — | 29 | ||||||||||||
Deferred offering costs | — | — | — | 26 | ||||||||||||
Prepaid expenses | 12 | 12 | 10 | 10 | ||||||||||||
Total Assets | 139,140 | 207,590 | 267,519 | 231,443 | ||||||||||||
LIABILITIES: | ||||||||||||||||
Cash overdraft | 51 | 186 | — | — | ||||||||||||
Unrealized depreciation on forward currency contracts | — | — | — | 4 | ||||||||||||
Payable for investments purchased | 2 | 35 | 267 | 91 | ||||||||||||
Payable for Portfolio shares redeemed | 61 | 8 | — | — | ||||||||||||
Variation margin payable on futures contracts | 1 | 3 | — | — | ||||||||||||
Advisory fees payable | 58 | 89 | 442 | 160 | ||||||||||||
Management fees payable | 6 | 9 | 11 | 9 | ||||||||||||
Administrative services fees payable | 1 | 1 | 1 | 1 | ||||||||||||
Other accrued expenses | 28 | 27 | 11 | 4 | ||||||||||||
Total Liabilities | 208 | 358 | 732 | 269 | ||||||||||||
NET ASSETS: | $ | 138,932 | $ | 207,232 | $ | 266,787 | $ | 231,174 | ||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 10 | $ | 16 | $ | 17 | $ | 18 | ||||||||
Additional paid-in capital | 195,129 | 206,210 | 202,622 | 188,822 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | (8 | ) | (6 | ) | (1,940 | ) | 23 | |||||||||
Accumulated realized gains/(losses) from investments, futures and foreign currency transactions | (82,228 | ) | (35,826 | ) | 7,903 | 6,645 | ||||||||||
Net unrealized appreciation/(depreciation) on investments, futures and foreign currency translations | 26,029 | 36,838 | 58,185 | 35,666 | ||||||||||||
Net Assets | $ | 138,932 | $ | 207,232 | $ | 266,787 | $ | 231,174 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 138,812 | $ | 207,035 | $ | 266,421 | $ | 230,894 | ||||||||
HC Advisors Shares | 120 | 197 | 366 | 280 | ||||||||||||
Total | $ | 138,932 | $ | 207,232 | $ | 266,787 | $ | 231,174 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
HC Strategic Shares | 10,363 | 15,633 | 16,733 | 18,160 | ||||||||||||
HC Advisors Shares | 10 | 15 | 23 | 22 | ||||||||||||
Total | 10,373 | 15,648 | 16,756 | 18,182 | ||||||||||||
Net Asset Value, offering and redemption price per share(a) | ||||||||||||||||
HC Strategic Shares | $ | 13.39 | $ | 13.24 | $ | 15.92 | $ | 12.71 | ||||||||
HC Advisors Shares | $ | 13.38 | $ | 13.24 | $ | 15.92 | $ | 12.71 | ||||||||
Amounts designated as “—” are $0 or have been rounded to $0. |
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
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HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2010 (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 | $ | 842,097 | $ | 1,596,199 | $ | 417,966 | $ | 136,384 | ||||||||
Unrealized appreciation (depreciation) | 294,564 | 178,349 | 69,648 | (252 | ) | |||||||||||
Investments, at value | 1,136,661 | 1,774,548 | 487,614 | 136,132 | ||||||||||||
Cash | — | — | 67 | — | ||||||||||||
Foreign currency, at value (cost $618, $669, $3,191, $0, respectively) | 618 | 637 | 3,319 | — | ||||||||||||
Unrealized appreciation on forward currency contracts | — | — | 490 | 42 | ||||||||||||
Dividends and interest receivable | 881 | 1,359 | 296 | 850 | ||||||||||||
Receivable for Portfolio shares issued | 170 | 186 | 63 | 48 | ||||||||||||
Receivable from investments sold | 357 | 3,454 | 1,702 | 22,753 | ||||||||||||
Foreign tax reclaims receivable | 902 | 1,071 | 4 | — | ||||||||||||
TBA sale commitments receivable | — | — | — | 2,021 | ||||||||||||
Segregated cash for collateral | — | — | 2,254 | — | ||||||||||||
Variation margin receivable on futures contracts | — | — | 507 | 5 | ||||||||||||
Prepaid expenses | 34 | 51 | 21 | 13 | ||||||||||||
Total Assets | 1,139,623 | 1,781,306 | 496,337 | 161,864 | ||||||||||||
LIABILITIES: | ||||||||||||||||
TBA sale commitments, at fair value | — | — | — | 2,047 | ||||||||||||
Unrealized depreciation on forward currency contracts | 163 | 246 | — | — | ||||||||||||
Distributions payable | — | — | — | 156 | ||||||||||||
Payable for investments purchased | 2,099 | 3,464 | 553 | 53,433 | ||||||||||||
Payable for Portfolio shares redeemed | 271 | 228 | — | 17 | ||||||||||||
Advisory fees payable | 671 | 1,057 | 311 | 12 | ||||||||||||
Management fees payable | 48 | 76 | 21 | 7 | ||||||||||||
Administrative services fees payable | 6 | 9 | 3 | 1 | ||||||||||||
Other accrued expenses | 487 | 436 | 205 | 35 | ||||||||||||
Total Liabilities | 3,745 | 5,516 | 1,093 | 55,708 | ||||||||||||
NET ASSETS: | $ | 1,135,878 | $ | 1,775,790 | $ | 495,244 | $ | 106,156 | ||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 107 | $ | 168 | $ | 22 | $ | 10 | ||||||||
Additional paid-in capital | 1,063,707 | 1,605,529 | 419,812 | 103,818 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | 2,261 | 915 | (643 | ) | (401 | ) | ||||||||||
Accumulated realized gains/(losses) from investments, futures, written options and foreign currency transactions | (224,659 | ) | (9,069 | ) | 5,260 | 2,965 | ||||||||||
Net unrealized appreciation/(depreciation) on investments, futures, written options and foreign currency translations | 294,462 | 178,247 | 70,793 | (236 | ) | |||||||||||
Net Assets | $ | 1,135,878 | $ | 1,775,790 | $ | 495,244 | $ | 106,156 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 1,134,731 | $ | 1,773,739 | $ | 494,428 | $ | 103,951 | ||||||||
HC Advisors Shares | 1,147 | 2,051 | 816 | 2,205 | ||||||||||||
Total | $ | 1,135,878 | $ | 1,775,790 | $ | 495,244 | $ | 106,156 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
HC Strategic Shares | 107,143 | 168,114 | 22,139 | 10,376 | ||||||||||||
HC Advisors Shares | 108 | 194 | 37 | 220 | ||||||||||||
Total | 107,251 | 168,308 | 22,176 | 10,596 | ||||||||||||
Net Asset Value, offering and redemption price per share(a) | ||||||||||||||||
HC Strategic Shares | $ | 10.59 | $ | 10.55 | $ | 22.33 | $ | 10.02 | ||||||||
HC Advisors Shares | $ | 10.60 | $ | 10.55 | $ | 22.33 | $ | 10.02 | ||||||||
Amounts designated as “—” are $0 or have been rounded to $0. |
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
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HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2010 (Unaudited)
(Amounts in thousands except per share amounts)
The Fixed Income Portfolio | The Fixed Income Opportunity Portfolio | The U.S. Government Fixed Income Securities Portfolio | The U.S. Corporate Fixed Income Securities Portfolio | |||||||||||||
ASSETS: | ||||||||||||||||
Investment in SSgA Prime Money Market Fund at value and cost | $ | 38,792 | $ | — | $ | �� | $ | — | ||||||||
Investments, at cost | — | 415,948 | 227,436 | 173,915 | ||||||||||||
Unrealized appreciation (depreciation) | — | 27,749 | (2,586 | ) | 287 | |||||||||||
Investments, at value | 38,792 | 443,697 | 224,850 | 174,202 | ||||||||||||
Dividends and interest receivable | 4 | 7,842 | 1,368 | 2,414 | ||||||||||||
Receivable for Portfolio shares issued | 11 | — | 323 | 446 | ||||||||||||
Receivable from investments sold | — | — | 6,849 | — | ||||||||||||
Deferred offering costs | — | — | 5 | 5 | ||||||||||||
Prepaid expenses | 8 | 17 | 11 | 11 | ||||||||||||
Total Assets | 38,815 | 451,556 | 233,406 | 177,078 | ||||||||||||
LIABILITIES: | ||||||||||||||||
Cash overdraft | 171 | — | — | — | ||||||||||||
Payable for investments purchased | — | — | 7,016 | — | ||||||||||||
Payable for Portfolio shares redeemed | 271 | 25 | 45 | 53 | ||||||||||||
Distributions payable | 11 | — | 282 | 348 | ||||||||||||
Advisory fees payable | — | 496 | 19 | 28 | ||||||||||||
Management fees payable | 5 | 19 | 8 | 6 | ||||||||||||
Administrative services fees payable | — | 2 | 1 | 1 | ||||||||||||
Other accrued expenses | 32 | 23 | 4 | 3 | ||||||||||||
Total Liabilities | 490 | 565 | 7,375 | 439 | ||||||||||||
NET ASSETS: | $ | 38,325 | $ | 450,991 | $ | 226,031 | $ | 176,639 | ||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 4 | $ | 63 | $ | 23 | $ | 18 | ||||||||
Additional paid-in capital | 50,073 | 452,147 | 228,868 | 178,748 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | 363 | (34 | ) | (6 | ) | (3 | ) | |||||||||
Accumulated realized gains/(losses) from investments | (12,115 | ) | (28,934 | ) | (268 | ) | (2,411 | ) | ||||||||
Net unrealized appreciation/(depreciation) on investments | — | 27,749 | (2,586 | ) | 287 | |||||||||||
Net Assets | $ | 38,325 | $ | 450,991 | $ | 226,031 | $ | 176,639 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | 38,325 | 450,276 | 226,031 | 176,639 | ||||||||||||
HC Advisors Shares | — | 715 | — | — | ||||||||||||
Total | $ | 38,325 | $ | 450,991 | $ | 226,031 | $ | 176,639 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
HC Strategic Shares | 4,192 | 62,694 | 22,877 | 17,863 | ||||||||||||
HC Advisors Shares | — | 100 | — | — | ||||||||||||
Total | 4,192 | 62,794 | 22,877 | 17,863 | ||||||||||||
Net Asset Value, offering and redemption price per share(a) | ||||||||||||||||
HC Strategic Shares | $ | 9.14 | $ | 7.18 | $ | 9.88 | $ | 9.89 | ||||||||
HC Advisors Shares | $ | 9.14 | $ | 7.18 | $ | — | $ | — | ||||||||
Amounts designated as “—” are $0 or have been rounded to $0. |
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
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Table of Contents
HC CAPITAL TRUST
Statements of Assets and Liabilities (concluded)
As of December 31, 2010 (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 | $ | 408,268 | $ | 34,652 | $ | 512,218 | $ | 61,996 | ||||||||
Unrealized appreciation (depreciation) | 798 | 562 | (3,529 | ) | (1,292 | ) | ||||||||||
Investments, at value | 409,066 | 35,214 | 508,689 | 60,704 | ||||||||||||
Dividends and interest receivable | 646 | 452 | 7,521 | 841 | ||||||||||||
Receivable for Portfolio shares issued | 143 | 68 | 2,011 | 203 | ||||||||||||
Receivable from investments sold | 117,368 | — | — | — | ||||||||||||
TBA sale commitments receivable | 16,011 | — | — | — | ||||||||||||
Deferred offering costs | 5 | — | — | 26 | ||||||||||||
Prepaid expenses | 12 | 3 | 17 | 1 | ||||||||||||
Total Assets | 543,251 | 35,737 | 518,238 | 61,775 | ||||||||||||
LIABILITIES: | ||||||||||||||||
TBA sale commitments, at fair value | 16,198 | — | — | — | ||||||||||||
Payable for investments purchased | 309,901 | — | — | — | ||||||||||||
Payable for Portfolio shares redeemed | 30 | 15 | 365 | 17 | ||||||||||||
Distributions payable | 581 | 89 | 2,112 | 115 | ||||||||||||
Advisory fees payable | 27 | 4 | 89 | 6 | ||||||||||||
Management fees payable | 8 | 2 | 22 | 3 | ||||||||||||
Administrative services fees payable | 1 | — | 3 | — | ||||||||||||
Other accrued expenses | 3 | 3 | 43 | 13 | ||||||||||||
Total Liabilities | 326,749 | 113 | 2,634 | 154 | ||||||||||||
NET ASSETS: | $ | 216,502 | $ | 35,624 | $ | 515,604 | $ | 61,621 | ||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 22 | $ | 4 | $ | 55 | $ | 6 | ||||||||
Additional paid-in capital | 217,666 | 35,068 | 550,733 | 62,907 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | (32 | ) | (25 | ) | (108 | ) | — | |||||||||
Accumulated realized gains/(losses) from investments and written options | (1,765 | ) | 15 | (31,547 | ) | — | ||||||||||
Net unrealized appreciation/(depreciation) on investments and written options | 611 | 562 | (3,529 | ) | (1,292 | ) | ||||||||||
Net Assets | $ | 216,502 | $ | 35,624 | $ | 515,604 | $ | 61,621 | ||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 216,502 | $ | 35,624 | $ | 514,787 | $ | 61,414 | ||||||||
HC Advisors Shares | — | — | 817 | 207 | ||||||||||||
Total | $ | 216,502 | $ | 35,624 | $ | 515,604 | $ | 61,621 | ||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
HC Strategic Shares | 21,761 | 3,502 | 54,856 | 6,261 | ||||||||||||
HC Advisors Shares | — | — | 87 | 21 | ||||||||||||
Total | 21,761 | 3,502 | 54,943 | 6,282 | ||||||||||||
Net Asset Value, offering and redemption price per share(a) | ||||||||||||||||
HC Strategic Shares | $ | 9.95 | $ | 10.17 | $ | 9.38 | $ | 9.81 | ||||||||
HC Advisors Shares | $ | — | $ | — | $ | 9.38 | $ | 9.81 | ||||||||
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
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Table of Contents
Statements of Operations
For the Six Months Ended December 31, 2010 (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 | $ | — | $ | 1,275 | $ | — | $ | 1,938 | ||||||||
Dividends (net of foreign withholding tax of $22, $36, $0, $0, respectively) | 5,006 | 6,936 | 4,013 | 4,809 | ||||||||||||
Total Investment Income | 5,006 | 8,211 | 4,013 | 6,747 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 589 | 1,114 | 831 | 1,326 | ||||||||||||
Management fees | 118 | 200 | 169 | 254 | ||||||||||||
Administrative services fees | 93 | 158 | 134 | 201 | ||||||||||||
Distribution fees – HC Advisors Shares(a) | — | 1 | — | 1 | ||||||||||||
Professional fees | 16 | 24 | 24 | 31 | ||||||||||||
Compliance service fees | 7 | 10 | 10 | 13 | ||||||||||||
Custodian fees | 34 | 53 | 50 | 70 | ||||||||||||
Registration and filing fees | 8 | 28 | 8 | 32 | ||||||||||||
Trustee fees | 20 | 29 | 30 | 37 | ||||||||||||
Other | 40 | 48 | 60 | 65 | ||||||||||||
Total Expenses before waivers and expenses paid indirectly | 925 | 1,665 | 1,316 | 2,030 | ||||||||||||
Less: Expenses waived by the Specialist Manager | (122 | ) | (185 | ) | — | — | ||||||||||
Distribution fees waived – HC Advisors Shares(a) | — | (1 | ) | — | (1 | ) | ||||||||||
Expenses paid indirectly | (16 | ) | (25 | ) | (23 | ) | (33 | ) | ||||||||
Net Expenses | 787 | 1,454 | 1,293 | 1,996 | ||||||||||||
Net Investment Income | 4,219 | 6,757 | 2,720 | 4,751 | ||||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | 9,689 | 9,914 | 29,430 | 11,455 | ||||||||||||
Net realized gains/(losses) from futures transactions | 298 | 15,446 | 228 | 19,737 | ||||||||||||
Net realized gains/(losses) from written options transactions | — | 169 | — | 233 | ||||||||||||
Net realized gains/(losses) from interest rate swap transactions | — | (8 | ) | — | (12 | ) | ||||||||||
Net realized gains/(losses) from foreign currency transactions | — | (203 | ) | — | (271 | ) | ||||||||||
Net realized gains/(losses) from investments, futures, written options, interest rate swap and foreign currency transactions | 9,987 | 25,318 | 29,658 | 31,142 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments | 74,357 | 111,188 | 119,083 | 175,590 | ||||||||||||
Change in unrealized appreciation/(depreciation) on futures | 68 | 12,499 | 84 | 15,996 | ||||||||||||
Change in unrealized appreciation/(depreciation) on written options | — | 83 | — | 117 | ||||||||||||
Change in unrealized appreciation/(depreciation) on interest rate swaps | — | 347 | — | 443 | ||||||||||||
Change in unrealized appreciation/(depreciation) on foreign currency translations | — | (286 | ) | — | (374 | ) | ||||||||||
Change in unrealized appreciation on investments, futures, written options, interest rate swaps and foreign currency | 74,425 | 123,831 | 119,167 | 191,772 | ||||||||||||
Net realized/unrealized gains/(losses) from investments, futures, written options, interest rate swaps and foreign currency translations | 84,412 | 149,149 | 148,825 | 222,914 | ||||||||||||
Change in net assets resulting from operations | $ | 88,631 | $ | 155,906 | $ | 151,545 | $ | 227,665 | ||||||||
(a) | For the Period July 6, 2010 (commencement of operations) to December 31, 2010. |
Amounts designated as “—” are $0 or have been rounded to $0. |
See accompanying notes to financial statements.
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Table of Contents
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2010 (Unaudited)
(Amounts in thousands)
The Small Capitalization Equity Portfolio | The Institutional Small Capitalization Equity Portfolio | The Real Estate Securities Portfolio | The Commodity Related Securities Portfolio | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 1 | $ | 2 | $ | 1 | $ | — | ||||||||
Dividends (net of foreign withholding tax of $2, $3, $38, $50, respectively) | 840 | 1,254 | 4,924 | 1,236 | ||||||||||||
Total Investment Income | 841 | 1,256 | 4,925 | 1,236 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 393 | 582 | 820 | 743 | ||||||||||||
Management fees | 31 | 47 | 62 | 44 | ||||||||||||
Administrative services fees | 25 | 37 | 49 | 34 | ||||||||||||
Distribution fees – HC Advisors Shares(a) | — | — | — | — | ||||||||||||
Professional fees | 4 | 6 | 7 | 7 | ||||||||||||
Compliance service fees | 2 | 3 | 3 | 3 | ||||||||||||
Custodian fees | 8 | 13 | 20 | 27 | ||||||||||||
Registration and filing fees | 8 | 11 | 6 | — | ||||||||||||
Trustee fees | 4 | 8 | 9 | 8 | ||||||||||||
Offering fees | — | — | — | 28 | ||||||||||||
Other | 10 | 14 | 15 | 31 | ||||||||||||
Total Expenses before waivers and expenses paid indirectly | 485 | 721 | 991 | 925 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares(a) | — | — | — | — | ||||||||||||
Expenses paid indirectly | (1 | ) | (2 | ) | (3 | ) | — | |||||||||
Net Expenses | 484 | 719 | 988 | 925 | ||||||||||||
Net Investment Income | 357 | 537 | 3,937 | 311 | ||||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | 5,905 | 8,674 | 11,830 | 9,229 | ||||||||||||
Net realized gains/(losses) from futures transactions | 37 | 115 | — | — | ||||||||||||
Net realized gains/(losses) from foreign currency transactions | — | — | (17 | ) | 13 | |||||||||||
Net realized gains/(losses) from investments, futures and foreign currency transactions | 5,942 | 8,789 | 11,813 | 9,242 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments | 25,979 | 38,693 | 36,034 | 42,038 | ||||||||||||
Change in unrealized appreciation/(depreciation) on futures | 12 | 24 | — | — | ||||||||||||
Change in unrealized appreciation/(depreciation) on foreign currency translations | — | — | 1 | (1 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on investments, futures and foreign currency translations | 25,991 | 38,717 | 36,035 | 42,037 | ||||||||||||
Net realized/unrealized gains/(losses) from investments, futures and foreign currency translations | 31,933 | 47,506 | 47,848 | 51,279 | ||||||||||||
Change in net assets resulting from operations | $ | 32,290 | $ | 48,043 | $ | 51,785 | $ | 51,590 | ||||||||
(a) | For the Period July 6, 2010 (commencement of operations) to December 31, 2010. |
Amounts designated as “—” are $0 or have been rounded to $0. |
See accompanying notes to financial statements.
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Table of Contents
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2010 (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 | $ | 19 | $ | 3 | $ | 6 | $ | 4,539 | ||||||||
Dividends (net of foreign withholding tax of $586, $846, $409, $0, respectively) | 7,920 | 12,831 | 3,743 | 31 | ||||||||||||
Total Investment Income | 7,939 | 12,834 | 3,749 | 4,570 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 2,217 | 3,531 | 1,666 | 336 | ||||||||||||
Management fees | 268 | 426 | 112 | 83 | ||||||||||||
Administrative services fees | 212 | 339 | 89 | 67 | ||||||||||||
Distribution fees – HC Advisors Shares(a) | 1 | 2 | 1 | 2 | ||||||||||||
Professional fees | 42 | 57 | 19 | 11 | ||||||||||||
Compliance service fees | 17 | 23 | 6 | 5 | ||||||||||||
Custodian fees | 405 | 549 | 402 | 26 | ||||||||||||
Registration and filing fees | 9 | 49 | 12 | 9 | ||||||||||||
Trustee fees | 47 | 65 | 16 | 13 | ||||||||||||
Other | 118 | 137 | 36 | 24 | ||||||||||||
Total Expenses before waivers and expenses paid indirectly | 3,336 | 5,178 | 2,359 | 576 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares(a) | (1 | ) | (2 | ) | (1 | ) | (2 | ) | ||||||||
Expenses paid indirectly | (8 | ) | (6 | ) | — | — | ||||||||||
Net Expenses | 3,327 | 5,170 | 2,358 | 574 | ||||||||||||
Net Investment Income | 4,612 | 7,664 | 1,391 | 3,996 | ||||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | 37,815 | 12,884 | 7,468 | 13,283 | ||||||||||||
Net realized gains/(losses) from futures transactions | — | — | 3,476 | (2,056 | ) | |||||||||||
Net realized gains/(losses) from written options transactions | — | — | — | 8 | ||||||||||||
Net realized gains/(losses) from foreign currency transactions | 59 | (65 | ) | 627 | (98 | ) | ||||||||||
Net realized gains from investments, futures, written options and foreign currency transactions | 37,874 | 12,819 | 11,571 | 11,137 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments | 188,449 | 341,002 | 88,577 | (8,575 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on futures | — | — | 1,154 | (594 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on written options | — | — | — | (23 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on foreign currency translations | (448 | ) | (569 | ) | 487 | (24 | ) | |||||||||
Change in unrealized appreciation/depreciation on investments, futures, written options and foreign currency translations | 188,001 | 340,433 | 90,218 | (9,216 | ) | |||||||||||
Net realized/unrealized gains/(losses) from investments, futures, written options and foreign currency translations | 225,875 | 353,252 | 101,789 | 1,921 | ||||||||||||
Change in net assets resulting from operations | $ | 230,487 | $ | 360,916 | $ | 103,180 | $ | 5,917 | ||||||||
(a) | For the Period July 6, 2010 (commencement of operations) to December 31, 2010. |
Amounts designated as “—” are $0 or have been rounded to $0. |
See accompanying notes to financial statements.
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Table of Contents
HC CAPITAL TRUST
Statements of Operations (continued)
For the Periods Ended December 31, 2010 (Unaudited)
(Amounts in thousands)
The Fixed Income Portfolio | The Fixed Income Opportunity Portfolio | The U.S. Government Fixed Income Securities Portfolio(a) | The U.S. Corporate Fixed Income Securities Portfolio(a) | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 7,563 | $ | 18,496 | $ | 224 | $ | 396 | ||||||||
Dividends | 14 | 40 | — | — | ||||||||||||
Total Investment Income: | 7,577 | 18,536 | 224 | 396 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 377 | 905 | 19 | 28 | ||||||||||||
Management fees | 96 | 107 | 8 | 6 | ||||||||||||
Administrative services fees | 77 | 85 | 6 | 5 | ||||||||||||
Distribution fees – HC Advisors Shares(b) | 1 | 1 | — | — | ||||||||||||
Professional fees | 13 | 13 | 6 | 4 | ||||||||||||
Compliance service fees | 5 | 6 | 1 | 1 | ||||||||||||
Custodian fees | 28 | 27 | 5 | 4 | ||||||||||||
Registration and filing fees | 10 | 8 | — | — | ||||||||||||
Trustee fees | 15 | 16 | 2 | 1 | ||||||||||||
Offering fees | — | — | — | — | ||||||||||||
Other | 28 | 31 | 1 | 2 | ||||||||||||
Total Expenses before waivers | 650 | 1,199 | 48 | 51 | ||||||||||||
Less: Expenses waived by the Specialist Manager | (28 | ) | — | — | — | |||||||||||
Distribution fees waived – HC Advisors Shares(b) | (1 | ) | (1 | ) | — | — | ||||||||||
Net Expenses | 621 | 1,198 | 48 | 51 | ||||||||||||
Net Investment Income | 6,956 | 17,338 | 176 | 345 | ||||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | 16,153 | 12,410 | (268 | ) | (2,411 | ) | ||||||||||
Change in unrealized appreciation/(depreciation) on investments | (12,439 | ) | 15,807 | (2,586 | ) | 287 | ||||||||||
Net realized/unrealized gains/(losses) from investments | 3,714 | 28,217 | (2,854 | ) | (2,124 | ) | ||||||||||
Change in net assets resulting from operations | $ | 10,670 | $ | 45,555 | $ | (2,678 | ) | $ | (1,779 | ) | ||||||
(a) | For the Period December 6, 2010 (commencement of operations) to December 31, 2010. |
(b) | For the Period July 6, 2010 (commencement of operations) to December 31, 2010. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
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Table of Contents
HC CAPITAL TRUST
Statements of Operations (concluded)
For the Periods Ended December 31, 2010 (Unaudited)
(Amounts in thousands)
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio(a) | The Short-Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond II Portfolio(b) | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 22 | $ | 458 | $ | 10,258 | $ | 524 | ||||||||
Total Investment Income: | 22 | 458 | 10,258 | 524 | ||||||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 27 | 23 | 550 | 33 | ||||||||||||
Management fees | 8 | 9 | 137 | 13 | ||||||||||||
Administrative services fees | 6 | 7 | 109 | 10 | ||||||||||||
Distribution fees – HC Advisors Shares(c) | — | — | 1 | — | ||||||||||||
Professional fees | 4 | 2 | 18 | 4 | ||||||||||||
Compliance service fees | 1 | 1 | 7 | 1 | ||||||||||||
Custodian fees | 4 | 3 | 37 | 6 | ||||||||||||
Registration and filing fees | — | 5 | 6 | — | ||||||||||||
Trustee fees | 2 | 2 | 22 | 4 | ||||||||||||
Offering fees | — | — | — | 11 | ||||||||||||
Other | 2 | 2 | 40 | 10 | ||||||||||||
Total Expenses before waivers | 54 | 54 | 927 | 92 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares(c) | — | — | (1 | ) | — | |||||||||||
Net Expenses | 54 | 54 | 926 | 92 | ||||||||||||
Net Investment Income | (32 | ) | 404 | 9,332 | 432 | |||||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | (1,765 | ) | 57 | 320 | — | |||||||||||
Change in unrealized appreciation/(depreciation) on investments | 611 | (391 | ) | (10,746 | ) | (1,292 | ) | |||||||||
Net realized/unrealized gains/(losses) from investments | (1,154 | ) | (334 | ) | (10,426 | ) | (1,292 | ) | ||||||||
Change in net assets resulting from operations | $ | (1,186 | ) | $ | 70 | $ | (1,094 | ) | $ | (860 | ) | |||||
(a) | For the Period December 6, 2010 (commencement of operations) to December 31, 2010. |
(b) | For the Period July 13, 2010 (commencement of operations) to December 31, 2010. |
(c) | For the Period July 6, 2010, and October 5, 2010, through December 31, 2010, for The Intermediate Term Municipal Bond Portfolio and The Intermediate Term Municipal Bond II Portfolio, respectively. |
Amounts designated as “—” are $0 or have been rounded to $0. |
See accompanying notes to financial statements.
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Table of Contents
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, 2010 | For the Year Ended June 30, 2010 | For the Six Months Ended December 31, 2010 | For the Year Ended June 30, 2010 | For the Six Months Ended December 31, 2010 | For the Year Ended June 30, 2010 | |||||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 4,219 | $ | 9,607 | $ | 6,757 | $ | 8,976 | $ | 2,720 | $ | 6,883 | ||||||||||||
Net realized gains from investments, futures, written options, interest rate swap and foreign currency transactions | 9,987 | 26,334 | 25,318 | 42,286 | 29,658 | 49,152 | ||||||||||||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, written options, interest rate swap and foreign currency translations | 74,425 | 42,783 | 123,831 | (11,879 | ) | 119,167 | 47,297 | |||||||||||||||||
Change in net assets resulting from operations | 88,631 | 78,724 | 155,906 | 39,383 | 151,545 | 103,332 | ||||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (4,689 | ) | (9,150 | ) | (6,575 | ) | (9,051 | ) | (3,109 | ) | (6,664 | ) | ||||||||||||
HC Advisors Shares(a) | (4 | ) | — | (9 | ) | — | (2 | ) | — | |||||||||||||||
Change in net assets resulting from distributions | (4,693 | ) | (9,150 | ) | (6,584 | ) | (9,051 | ) | (3,111 | ) | (6,664 | ) | ||||||||||||
Shares of Beneficial Interest: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 48,286 | $ | 59,393 | $ | 74,851 | $ | 390,550 | $ | 37,941 | $ | 78,476 | ||||||||||||
Proceeds from reinvestment of dividends | 4,016 | 7,368 | 6,192 | 8,532 | 2,646 | 5,395 | ||||||||||||||||||
Cost of shares redeemed | (28,395 | ) | (202,304 | ) | (56,032 | ) | (118,399 | ) | (64,731 | ) | (373,771 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 23,907 | (135,543 | ) | 25,011 | 280,683 | (24,144 | ) | (289,900 | ) | |||||||||||||||
HC Advisors Shares(a) | ||||||||||||||||||||||||
Proceeds from shares issued | 553 | — | 986 | — | 674 | — | ||||||||||||||||||
Cost of shares redeemed | (6 | ) | — | (41 | ) | — | (27 | ) | — | |||||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | 547 | — | 945 | — | 647 | — | ||||||||||||||||||
Change in net assets from shares of beneficial interest | 24,454 | (135,543 | ) | 25,956 | 280,683 | (23,497 | ) | (289,900 | ) | |||||||||||||||
Change in net assets | 108,392 | (65,969 | ) | 175,278 | 311,015 | 124,937 | (193,232 | ) | ||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 411,468 | 477,437 | 688,971 | 377,956 | 589,930 | 783,162 | ||||||||||||||||||
End of period | $ | 519,860 | $ | 411,468 | $ | 864,249 | $ | 688,971 | $ | 714,867 | $ | 589,930 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (25 | ) | $ | 449 | $ | 782 | $ | 609 | $ | 4 | $ | 395 | |||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 4,447 | 5,553 | 6,677 | 35,543 | 3,294 | 6,892 | ||||||||||||||||||
Reinvested | 352 | 678 | 525 | 771 | 217 | 472 | ||||||||||||||||||
Redeemed | (2,580 | ) | (19,017 | ) | (4,726 | ) | (11,055 | ) | (5,306 | ) | (33,702 | ) | ||||||||||||
Change in HC Strategic Shares | 2,219 | (12,786 | ) | 2,476 | 25,259 | (1,795 | ) | (26,338 | ) | |||||||||||||||
HC Advisors Shares(a) | ||||||||||||||||||||||||
Issued | 51 | — | 93 | — | 58 | — | ||||||||||||||||||
Redeemed | — | — | (3 | ) | — | �� | (2 | ) | — | |||||||||||||||
Change in HC Advisors Shares | 51 | — | 90 | — | 56 | — | ||||||||||||||||||
Total change in shares | 2,270 | (12,786 | ) | 2,566 | 25,259 | (1,739 | ) | (26,338 | ) | |||||||||||||||
(a) | For the Period July 6, 2010 (commencement of operations) to December 31, 2010. |
Amounts designated as “—” are $0 or have been rounded to $0. |
See accompanying notes to financial statements.
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HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Institutional Growth Equity Portfolio | The Small Capitalization Equity Portfolio | The Institutional Small Capitalization Equity Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2010 | For the Year Ended June 30, 2010 | For the Six Months Ended December 31, 2010 | For the Year Ended June 30, 2010 | For the Six Months Ended December 31, 2010 | For the Year Ended June 30, 2010 | |||||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 4,751 | $ | 5,116 | $ | 357 | $ | 846 | $ | 537 | $ | 815 | ||||||||||||
Net realized gains/(losses) from investments, futures, written options, interest rate swap and foreign currency transactions | 31,142 | 4,231 | 5,942 | 32,682 | 8,789 | 9,317 | ||||||||||||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, written options, interest rate swap and foreign currency translations | 191,772 | 36,659 | 25,991 | 22,696 | 38,717 | 24,435 | ||||||||||||||||||
Change in net assets resulting from operations | 227,665 | 46,006 | 32,290 | 56,224 | 48,043 | 34,567 | ||||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (3,837 | ) | (5,926 | ) | (398 | ) | (846 | ) | (677 | ) | (716 | ) | ||||||||||||
HC Advisors Shares(a) | (5 | ) | — | — | — | (1 | ) | — | ||||||||||||||||
Change in net assets resulting from distributions | (3,842 | ) | (5,926 | ) | (398 | ) | (846 | ) | (678 | ) | (716 | ) | ||||||||||||
Shares of Beneficial Interest: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 126,534 | $ | 452,888 | $ | 5,177 | $ | 27,215 | $ | 19,329 | $ | 99,979 | ||||||||||||
Proceeds from reinvestment of dividends | 3,582 | 5,303 | 343 | 651 | 619 | 541 | ||||||||||||||||||
Cost of shares redeemed | (103,907 | ) | (180,920 | ) | (12,330 | ) | (272,812 | ) | (21,902 | ) | (173,692 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 26,209 | 277,271 | (6,810 | ) | (244,946 | ) | (1,954 | ) | (73,172 | ) | ||||||||||||||
HC Advisors Shares(a) | ||||||||||||||||||||||||
Proceeds from shares issued | 1,160 | — | 108 | — | 173 | — | ||||||||||||||||||
Cost of shares redeemed | (110 | ) | — | (7 | ) | — | (23 | ) | — | |||||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | 1,050 | — | 101 | — | 150 | — | ||||||||||||||||||
Change in net assets from shares of beneficial interest | 27,259 | 277,271 | (6,709 | ) | (244,946 | ) | (1,804 | ) | (73,172 | ) | ||||||||||||||
Change in net assets | 251,082 | 317,351 | 25,183 | (189,568 | ) | 45,561 | (39,321 | ) | ||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 858,425 | 541,074 | 113,749 | 303,317 | 161,671 | 200,992 | ||||||||||||||||||
End of period | $ | 1,109,507 | $ | 858,425 | $ | 138,932 | $ | 113,749 | $ | 207,232 | $ | 161,671 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | 1,303 | $ | 394 | $ | (8 | ) | $ | 33 | $ | (6 | ) | $ | 135 | ||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 10,415 | 40,077 | 457 | 2,386 | 1,682 | 9,696 | ||||||||||||||||||
Reinvested | 287 | 463 | 26 | 61 | 49 | 51 | ||||||||||||||||||
Redeemed | (8,083 | ) | (16,344 | ) | (1,051 | ) | (25,427 | ) | (1,760 | ) | (16,714 | ) | ||||||||||||
Change in HC Strategic Shares | 2,619 | 24,196 | (568 | ) | (22,980 | ) | (29 | ) | (6,967 | ) | ||||||||||||||
HC Advisors Shares(a) | ||||||||||||||||||||||||
Issued | 107 | — | 11 | — | 17 | — | ||||||||||||||||||
Redeemed | (9 | ) | — | (1 | ) | — | (2 | ) | — | |||||||||||||||
Change in HC Advisors Shares | 98 | — | 10 | — | 15 | — | ||||||||||||||||||
Total change in shares | 2,717 | 24,196 | (558 | ) | (22,980 | ) | (14 | ) | (6,967 | ) | ||||||||||||||
(a) | For the Period July 6, 2010 (commencement of operations) to December 31, 2010. |
Amounts designated as “—” are $0 or have been rounded to $0. |
See accompanying notes to financial statements.
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HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Real Estate Securities Portfolio | The Commodity Related Securities Portfolio | |||||||||||||||
For the Six Months Ended December 31, 2010 | For the Year Ended June 30, 2010 | For the Six Months Ended December 31, 2010 | For the Period June 8, 2010 through June 30, 2010(a) | |||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
Operations: | ||||||||||||||||
Net investment income/(loss) | $ | 3,937 | $ | 2,863 | $ | 311 | $ | (26 | ) | |||||||
Net realized gains/(losses) from investments and foreign currency transactions | 11,813 | 4,655 | 9,242 | (2 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on investments and foreign currency translations | 36,035 | 22,081 | 42,037 | (6,371 | ) | |||||||||||
Change in net assets resulting from operations | 51,785 | 29,599 | 51,590 | (6,399 | ) | |||||||||||
Distributions to Shareholders from: | ||||||||||||||||
Net investment income: | ||||||||||||||||
HC Strategic Shares | (6,328 | ) | (3,649 | ) | (280 | ) | — | |||||||||
HC Advisors Shares(b) | (9 | ) | — | — | — | |||||||||||
Net realized gains from investment transactions: | ||||||||||||||||
HC Strategic Shares | (7,533 | ) | (109 | ) | (2,592 | ) | — | |||||||||
HC Advisors Shares(b) | (11 | ) | — | (3 | ) | — | ||||||||||
Change in net assets resulting from distributions | (13,881 | ) | (3,758 | ) | (2,875 | ) | — | |||||||||
Shares of Beneficial Interest: | ||||||||||||||||
HC Strategic Shares | ||||||||||||||||
Proceeds from shares issued | $ | 24,698 | $ | 149,589 | $ | 62,358 | $ | 127,240 | ||||||||
Proceeds from reinvestment of dividends | 13,616 | 3,585 | 2,730 | — | ||||||||||||
Cost of shares redeemed | (16,783 | ) | (9,099 | ) | (3,692 | ) | — | |||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 21,531 | 144,075 | 61,396 | 127,240 | ||||||||||||
HC Advisors Shares(b) | ||||||||||||||||
Proceeds from shares issued | 336 | — | 236 | — | ||||||||||||
Cost of shares redeemed | (23 | ) | — | (14 | ) | — | ||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | 313 | — | 222 | — | ||||||||||||
Change in net assets from shares of beneficial interest | 21,844 | 144,075 | 61,618 | 127,240 | ||||||||||||
Change in net assets | 59,748 | 169,916 | 110,333 | 120,841 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of period | 207,039 | 37,123 | 120,841 | — | ||||||||||||
End of period | $ | 266,787 | $ | 207,039 | $ | 231,174 | $ | 120,841 | ||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (1,940 | ) | $ | 460 | $ | 23 | $ | (8 | ) | ||||||
Share Transactions: | ||||||||||||||||
HC Strategic Shares | ||||||||||||||||
Issued | 1,625 | 11,987 | 5,627 | 12,623 | ||||||||||||
Reinvested | 872 | 258 | 224 | — | ||||||||||||
Redeemed | (1,064 | ) | (629 | ) | (314 | ) | — | |||||||||
Change in HC Strategic Shares | 1,433 | 11,616 | 5,537 | 12,623 | ||||||||||||
HC Advisors Shares(b) | ||||||||||||||||
Issued | 24 | — | 23 | — | ||||||||||||
Redeemed | (1 | ) | — | (1 | ) | — | ||||||||||
Change in HC Advisors Shares | 23 | — | 22 | — | ||||||||||||
Total change in shares | 1,456 | 11,616 | 5,559 | 12,623 | ||||||||||||
(a) | Period from commencement of operations. |
(b) | For the Period July 6, 2010 (commencement of operations) to December 31, 2010. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
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HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The International Equity Portfolio | The Institutional International Equity Portfolio | The Emerging Markets Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2010 | For the Year Ended June 30, 2010 | For the Six Months Ended December 31, 2010 | For the Period November 20, 2009 through June 30, 2010(a) | For the Six Months Ended December 31, 2010 | For the Period December 10, 2009 through June 30, 2010(a) | |||||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 4,612 | $ | 21,241 | $ | 7,664 | $ | 22,035 | $ | 1,391 | $ | 2,245 | ||||||||||||
Net realized gains/(losses) from investments, futures and foreign currency transactions | 37,874 | 151,946 | 12,819 | (19,235 | ) | 11,571 | (2,485 | ) | ||||||||||||||||
Change in unrealized appreciation/(depreciation) on investments, futures and foreign currency translations | 188,001 | 115,257 | 340,433 | (162,186 | ) | 90,218 | (19,425 | ) | ||||||||||||||||
Change in net assets resulting from operations | 230,487 | 288,444 | 360,916 | (159,386 | ) | 103,180 | (19,665 | ) | ||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (4,557 | ) | (20,524 | ) | (10,473 | ) | (20,952 | ) | (3,214 | ) | (61 | ) | ||||||||||||
HC Advisors Shares(b) | (5 | ) | — | (12 | ) | — | (5 | ) | — | |||||||||||||||
Net realized gains from investment transactions: | ||||||||||||||||||||||||
HC Strategic Shares | — | — | — | — | (4,818 | ) | — | |||||||||||||||||
HC Advisors Shares(b) | — | — | — | — | (7 | ) | — | |||||||||||||||||
Change in net assets resulting from distributions | (4,562 | ) | (20,524 | ) | (10,485 | ) | (20,952 | ) | (8,044 | ) | (61 | ) | ||||||||||||
Shares of Beneficial Interest: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 61,617 | $ | 499,196 | $ | 184,103 | $ | 1,630,940 | $ | 111,398 | $ | 380,120 | ||||||||||||
Proceeds from reinvestment of dividends | 3,783 | 16,907 | 9,431 | 19,138 | 7,904 | 58 | ||||||||||||||||||
Cost of shares redeemed | (82,680 | ) | (1,536,457 | ) | (187,255 | ) | (52,387 | ) | (65,074 | ) | (15,268 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (17,280 | ) | (1,020,354 | ) | 6,279 | 1,597,691 | 54,228 | 364,910 | ||||||||||||||||
HC Advisors Shares(b) | ||||||||||||||||||||||||
Proceeds from shares issued | 1,048 | — | 1,844 | — | 700 | — | ||||||||||||||||||
Cost of shares redeemed | (2 | ) | — | (117 | ) | — | (4 | ) | — | |||||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | 1,046 | — | 1,727 | — | 696 | — | ||||||||||||||||||
Change in net assets from shares of beneficial interest | (16,234 | ) | (1,020,354 | ) | 8,006 | 1,597,691 | 54,924 | 364,910 | ||||||||||||||||
Change in net assets | 209,691 | (752,434 | ) | 358,437 | 1,417,353 | 150,060 | 345,184 | |||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 926,187 | 1,678,621 | 1,417,353 | — | 345,184 | — | ||||||||||||||||||
End of period | $ | 1,135,878 | $ | 926,187 | $ | 1,775,790 | $ | 1,417,353 | $ | 495,244 | $ | 345,184 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | 2,261 | $ | 2,211 | $ | 915 | $ | 3,736 | $ | (643 | ) | $ | 1,185 | |||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 6,372 | 55,261 | 18,873 | 169,943 | 5,459 | 20,195 | ||||||||||||||||||
Reinvested | 360 | 1,834 | 900 | 2,131 | 362 | 3 | ||||||||||||||||||
Redeemed | (8,422 | ) | (160,316 | ) | (18,290 | ) | (5,443 | ) | (3,065 | ) | (815 | ) | ||||||||||||
Change in HC Strategic Shares | (1,690 | ) | (103,221 | ) | 1,483 | 166,631 | 2,756 | 19,383 | ||||||||||||||||
HC Advisors Shares(b) | ||||||||||||||||||||||||
Issued | 108 | — | 206 | — | 37 | — | ||||||||||||||||||
Redeemed | — | — | (12 | ) | — | — | — | |||||||||||||||||
Change in HC Advisors Shares | 108 | — | 194 | — | 37 | — | ||||||||||||||||||
Total change in shares | (1,582 | ) | (103,221 | ) | 1,677 | 166,631 | 2,793 | 19,383 | ||||||||||||||||
(a) | Period from commencement of operations. |
(b) | For the Period July 6, 2010 (commencement of operations) to December 31, 2010. |
Amounts designated as “—” are $0 or have been rounded to $0. |
See accompanying notes to financial statements.
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HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Core Fixed Income Portfolio | The Fixed Income Portfolio | The Fixed Income Opportunity Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2010 | For the Year Ended June 30, 2010 | For the Six Months Ended December 31, 2010 | For the Year Ended June 30, 2010 | For the Six Months Ended December 31, 2010 | For the Year Ended June 30, 2010 | |||||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 3,996 | $ | 11,464 | $ | 6,956 | $ | 19,276 | $ | 17,338 | $ | 31,974 | ||||||||||||
Net realized gains from investments, futures, written options and foreign currency transactions | 11,137 | 8,537 | 16,153 | 15,156 | 12,410 | 17,358 | ||||||||||||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, written options and foreign currency translations | (9,216 | ) | 15,643 | (12,439 | ) | 22,882 | 15,807 | 10,042 | ||||||||||||||||
Change in net assets resulting from operations | 5,917 | 35,644 | 10,670 | 57,314 | 45,555 | 59,374 | ||||||||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (4,552 | ) | (12,054 | ) | (6,961 | ) | (18,065 | ) | (19,328 | ) | (31,005 | ) | ||||||||||||
HC Advisors Shares(a) | (15 | ) | — | (19 | ) | — | (32 | ) | — | |||||||||||||||
Net realized gains from investment transactions: | ||||||||||||||||||||||||
HC Strategic Shares | (7,116 | ) | — | — | — | — | — | |||||||||||||||||
HC Advisors Shares(a) | (24 | ) | — | — | — | — | — | |||||||||||||||||
Change in net assets resulting from distributions | (11,707 | ) | (12,054 | ) | (6,980 | ) | (18,065 | ) | (19,360 | ) | (31,005 | ) | ||||||||||||
Shares of Beneficial Interest: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 87,987 | $ | 130,200 | $ | 30,297 | $ | 123,371 | $ | 80,719 | $ | 116,986 | ||||||||||||
Proceeds from reinvestment of dividends | 11,412 | 10,840 | 6,821 | 16,571 | 18,766 | 28,778 | ||||||||||||||||||
Cost of shares redeemed | (345,762 | ) | (107,808 | ) | (421,486 | ) | (110,029 | ) | (54,221 | ) | (79,180 | ) | ||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (246,363 | ) | 33,232 | (384,368 | ) | 29,913 | 45,264 | 66,584 | ||||||||||||||||
HC Advisors Shares(a) | ||||||||||||||||||||||||
Proceeds from shares issued | 2,253 | — | 1,245 | — | 685 | — | ||||||||||||||||||
Cost of shares redeemed | — | — | (1,250 | ) | — | — | — | |||||||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | 2,253 | — | (5 | ) | — | 685 | — | |||||||||||||||||
Change in net assets from shares of beneficial interest | (244,110 | ) | 33,232 | (384,373 | ) | 29,913 | 45,949 | 66,584 | ||||||||||||||||
Change in net assets | (249,900 | ) | 56,822 | (380,683 | ) | 69,162 | 72,144 | 94,953 | ||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 356,056 | 299,234 | 419,008 | 349,846 | 378,847 | 283,894 | ||||||||||||||||||
End of period | $ | 106,156 | $ | 356,056 | $ | 38,325 | $ | 419,008 | $ | 450,991 | $ | 378,847 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (401 | ) | $ | 170 | $ | 363 | $ | 387 | $ | (34 | ) | $ | 1,988 | ||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 8,602 | 13,201 | 3,268 | 14,273 | 11,296 | 17,783 | ||||||||||||||||||
Reinvested | 1,114 | 1,088 | 735 | 1,877 | 2,648 | 4,300 | ||||||||||||||||||
Redeemed | (34,081 | ) | (10,827 | ) | (45,715 | ) | (12,484 | ) | (7,572 | ) | (11,644 | ) | ||||||||||||
Change in HC Strategic Shares | (24,365 | ) | 3,462 | (41,712 | ) | 3,666 | 6,372 | 10,439 | ||||||||||||||||
HC Advisors Shares(a) | ||||||||||||||||||||||||
Issued | 220 | — | 136 | — | 100 | — | ||||||||||||||||||
Redeemed | — | — | (136 | ) | — | — | — | |||||||||||||||||
Change in HC Advisors Shares | 220 | — | — | — | 100 | — | ||||||||||||||||||
Total change in shares | (24,145 | ) | 3,462 | (41,712 | ) | 3,666 | 6,472 | 10,439 | ||||||||||||||||
(a) | For the Period July 6, 2010 (commencement of operations) to December 31, 2010. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
187
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The U.S. Government Fixed Income Securities Portfolio | The U.S. Corporate Fixed Income Securities Portfolio | The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | ||||||||||
For the Period December 6, 2010 through December 31, 2010(a) | For the Period December 6, 2010 through December 31, 2010(a) | For the Period December 6, 2010 through December 31, 2010(a) | ||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||
Operations: | ||||||||||||
Net investment income/(loss) | $ | 176 | $ | 345 | $ | (32 | ) | |||||
Net realized gains/(losses) from investments | (268 | ) | (2,411 | ) | (1,765 | ) | ||||||
Change in unrealized appreciation/(depreciation) on investments | (2,586 | ) | 287 | 611 | ||||||||
Change in net assets resulting from operations | (2,678 | ) | (1,779 | ) | (1,186 | ) | ||||||
Distributions to HC Strategic Shares Shareholders from: | ||||||||||||
Net investment income: | (182 | ) | (348 | ) | — | |||||||
Change in net assets resulting from distributions | (182 | ) | (348 | ) | — | |||||||
Shares of Beneficial Interest: | ||||||||||||
HC Strategic Shares | ||||||||||||
Proceeds from shares issued | $ | 245,461 | $ | 195,051 | $ | 234,418 | ||||||
Proceeds from reinvestment of dividends | 172 | 331 | — | |||||||||
Cost of shares redeemed | (16,742 | ) | (16,616 | ) | (16,730 | ) | ||||||
Change in net assets from HC Strategic Shares of beneficial interest | 228,891 | 178,766 | 217,688 | |||||||||
Change in net assets | 226,031 | 176,639 | 216,502 | |||||||||
Net Assets: | ||||||||||||
Beginning of period | — | — | — | |||||||||
End of period | $ | 226,031 | $ | 176,639 | $ | 216,502 | ||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (6 | ) | $ | (3 | ) | $ | (32 | ) | |||
Share Transactions: | ||||||||||||
HC Strategic Shares | ||||||||||||
Issued | 24,556 | 19,514 | 23,448 | |||||||||
Reinvested | 17 | 34 | — | |||||||||
Redeemed | (1,696 | ) | (1,685 | ) | (1,687 | ) | ||||||
Change in HC Strategic Shares | 22,877 | 17,863 | 21,761 | |||||||||
(a) | Period from commencement of operations. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
188
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (concluded)
(Amounts in thousands)
The Short-Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond II Portfolio | ||||||||||||||||||
For the Six Months Ended December 31, 2010 | For the Year Ended June 30, 2010 | For the Six Months Ended December 31, 2010 | For the Year Ended June 30, 2010 | For the Period July 13, 2010 through December 31, 2010(a) | ||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||
Operations: | ||||||||||||||||||||
Net investment income | $ | 404 | $ | 865 | $ | 9,332 | $ | 21,077 | $ | 432 | ||||||||||
Net realized gains/(losses) from investments | 57 | 1 | 320 | (18,813 | ) | — | ||||||||||||||
Change in unrealized appreciation/(depreciation) on investments | (391 | ) | 221 | (10,746 | ) | 41,439 | (1,292 | ) | ||||||||||||
Change in net assets resulting from operations | 70 | 1,087 | (1,094 | ) | 43,703 | (860 | )�� | |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||
Net investment income: | ||||||||||||||||||||
HC Strategic Shares | (417 | ) | (858 | ) | (10,047 | ) | (20,875 | ) | (431 | ) | ||||||||||
HC Advisors Shares(b) | — | — | (11 | ) | — | (1 | ) | |||||||||||||
Net realized gains from investment transactions: | ||||||||||||||||||||
HC Strategic Shares | (42 | ) | (102 | ) | — | — | — | |||||||||||||
Change in net assets resulting from distributions | (459 | ) | (960 | ) | (10,058 | ) | (20,875 | ) | (432 | ) | ||||||||||
Shares of Beneficial Interest: | ||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||
Proceeds from shares issued | $ | 1,197 | $ | 15,105 | $ | 26,712 | $ | 147,748 | $ | 64,292 | ||||||||||
Proceeds from reinvestment of dividends | 433 | 856 | 9,572 | 17,786 | 418 | |||||||||||||||
Cost of shares redeemed | (3,423 | ) | (7,772 | ) | (90,123 | ) | (97,770 | ) | (2,008 | ) | ||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (1,793 | ) | 8,189 | (53,839 | ) | 67,764 | 62,702 | |||||||||||||
HC Advisors Shares(b) | ||||||||||||||||||||
Proceeds from shares issued | — | — | 875 | — | 234 | |||||||||||||||
Cost of shares redeemed | — | — | (40 | ) | — | (23 | ) | |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | — | — | 835 | — | 211 | |||||||||||||||
Change in net assets from shares of beneficial interest | (1,793 | ) | 8,189 | (53,004 | ) | 67,764 | 62,913 | |||||||||||||
Change in net assets | (2,182 | ) | 8,316 | (64,156 | ) | 90,592 | 61,621 | |||||||||||||
Net Assets: | ||||||||||||||||||||
Beginning of period | 37,806 | 29,490 | 579,760 | 489,168 | — | |||||||||||||||
End of period | $ | 35,624 | $ | 37,806 | $ | 515,604 | $ | 579,760 | $ | 61,621 | ||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (25 | ) | $ | (12 | ) | $ | (108 | ) | $ | 618 | $ | — | |||||||
Share Transactions: | ||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||
Issued | 116 | 1,467 | 2,747 | 15,564 | 6,419 | |||||||||||||||
Reinvested | 42 | 83 | 990 | 1,874 | 42 | |||||||||||||||
Redeemed | (333 | ) | (755 | ) | (9,344 | ) | (10,312 | ) | (200 | ) | ||||||||||
Change in HC Strategic Shares | (175 | ) | 795 | (5,607 | ) | 7,126 | 6,261 | |||||||||||||
HC Advisors Shares(b) | ||||||||||||||||||||
Issued | — | — | 91 | — | 23 | |||||||||||||||
Redeemed | — | — | (4 | ) | — | (2 | ) | |||||||||||||
Change in HC Advisors Shares | — | — | 87 | — | 21 | |||||||||||||||
Total change in shares | (175 | ) | 795 | (5,520 | ) | 7,126 | 6,282 | |||||||||||||
(a) | Period from commencement of operations. |
(b) | For the Intermediate Term Municipal Bond Portfolio for the Period July 6, 2010 (commencement of operations) to December 31, 2010, and for the Intermediate Term Municipal Bond II Portfolio for the Period October 5, 2010 (commencement of operations) to December 31, 2010. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
189
Table of Contents
Financial Highlights
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting From Operations: | Distributions to Shareholders: | |||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net investment income (loss) | Net realized/ unrealized gains (losses) on investments | Total from Operations | Net investment income | Net realized gains from investments | Tax Return of capital | Total distributions to shareholders | |||||||||||||||||||||||||
The Value Equity Portfolio | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 9.98 | $ | 0.10 | $ | 1.98 | $ | 2.08 | $ | (0.11 | ) | $ | — | $ | — | $ | (0.11 | ) | ||||||||||||||
Year Ended June 30, 2010 | 8.84 | 0.21 | 1.13 | 1.34 | (0.20 | ) | — | — | (0.20 | ) | ||||||||||||||||||||||
Year Ended June 30, 2009 | 13.22 | 0.29 | (4.21 | ) | (3.92 | ) | (0.30 | ) | (0.16 | ) | — | (0.46 | ) | |||||||||||||||||||
Year Ended June 30, 2008 | 18.26 | 0.32 | (3.32 | ) | (3.00 | ) | (0.33 | ) | (1.71 | ) | — | (2.04 | ) | |||||||||||||||||||
Year Ended June 30, 2007 | 16.03 | 0.35 | 3.14 | 3.49 | (0.35 | ) | (0.91 | ) | — | (1.26 | ) | |||||||||||||||||||||
Year Ended June 30, 2006 | 15.01 | 0.27 | 1.82 | 2.09 | (0.27 | ) | (0.80 | ) | — | (1.07 | ) | |||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(c) | $ | 9.93 | $ | 0.08 | $ | 2.05 | $ | 2.13 | $ | (0.11 | ) | $ | — | $ | — | $ | (0.11 | ) | ||||||||||||||
The Institutional Value Equity Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 10.26 | $ | 0.10 | $ | 2.13 | $ | 2.23 | $ | (0.10 | ) | $ | — | $ | — | $ | (0.10 | ) | ||||||||||||||
Year Ended June 30, 2010 | 9.02 | 0.17 | 1.24 | 1.41 | (0.17 | ) | — | — | (0.17 | ) | ||||||||||||||||||||||
Period Ended June 30, 2009(d) | 12.93 | 0.26 | (3.93 | ) | (3.67 | ) | (0.24 | ) | — | — | (0.24 | ) | ||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(c) | $ | 10.21 | $ | 0.09 | $ | 2.20 | $ | 2.29 | $ | (0.10 | ) | $ | — | $ | — | $ | (0.10 | ) | ||||||||||||||
The Growth Equity Portfolio | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 10.39 | $ | 0.04 | $ | 2.60 | $ | 2.64 | $ | (0.05 | ) | $ | — | $ | — | $ | (0.05 | ) | ||||||||||||||
Year Ended June 30, 2010 | 9.42 | 0.10 | 0.97 | 1.07 | (0.10 | ) | — | — | (0.10 | ) | ||||||||||||||||||||||
Year Ended June 30, 2009 | 12.09 | 0.10 | (2.67 | ) | (2.57 | ) | (0.10 | ) | — | — | (0.10 | ) | ||||||||||||||||||||
Year Ended June 30, 2008 | 12.85 | 0.12 | (0.75 | ) | (0.63 | ) | (0.13 | ) | — | — | (0.13 | ) | ||||||||||||||||||||
Year Ended June 30, 2007 | 11.26 | 0.11 | 1.59 | 1.70 | (0.11 | ) | — | — | (0.11 | ) | ||||||||||||||||||||||
Year Ended June 30, 2006 | 10.72 | 0.09 | 0.53 | 0.62 | (0.08 | ) | — | — | (0.08 | ) | ||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(c) | $ | 10.40 | $ | 0.04 | $ | 2.58 | $ | 2.62 | $ | (0.05 | ) | $ | — | $ | — | $ | (0.05 | ) | ||||||||||||||
The Institutional Growth Equity Portfolio | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 10.58 | $ | 0.07 | $ | 2.63 | $ | 2.70 | $ | (0.05 | ) | $ | — | $ | — | $ | (0.05 | ) | ||||||||||||||
Year Ended June 30, 2010 | 9.50 | 0.07 | 1.10 | 1.17 | (0.09 | ) | — | — | (0.09 | ) | ||||||||||||||||||||||
Period Ended June 30, 2009(e) | 12.36 | 0.11 | (2.88 | ) | (2.77 | ) | (0.09 | ) | — | — | (0.09 | ) | ||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(c) | $ | 10.59 | $ | 0.06 | $ | 2.63 | $ | 2.69 | $ | (0.05 | ) | $ | — | $ | — | $ | (0.05 | ) | ||||||||||||||
The Small Capitalization Equity Portfolio | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 10.41 | $ | 0.04 | $ | 2.98 | $ | 3.02 | $ | (0.04 | ) | $ | — | $ | — | $ | (0.04 | ) | ||||||||||||||
Year Ended June 30, 2010 | 8.94 | 0.04 | 1.47 | 1.51 | (0.04 | ) | — | — | (0.04 | ) | ||||||||||||||||||||||
Year Ended June 30, 2009 | 12.62 | 0.04 | (3.67 | ) | (3.63 | ) | (0.04 | ) | — | (0.01 | ) | (0.05 | ) | |||||||||||||||||||
Year Ended June 30, 2008 | 15.83 | 0.09 | (1.70 | ) | (1.61 | ) | (0.11 | ) | (1.49 | ) | — | (1.60 | ) | |||||||||||||||||||
Year Ended June 30, 2007 | 15.70 | 0.09 | 2.28 | 2.37 | (0.08 | ) | (2.16 | ) | — | (2.24 | ) | |||||||||||||||||||||
Year Ended June 30, 2006 | 15.06 | 0.04 | 2.79 | 2.83 | (0.03 | ) | (2.16 | ) | — | (2.19 | ) | |||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(c) | $ | 10.13 | $ | 0.03 | $ | 3.26 | $ | 3.29 | $ | (0.04 | ) | $ | — | $ | — | $ | (0.04 | ) | ||||||||||||||
The Institutional Small Capitalization Equity Portfolio | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 10.32 | $ | 0.03 | $ | 2.93 | $ | 2.96 | $ | (0.04 | ) | $ | — | $ | — | $ | (0.04 | ) | ||||||||||||||
Year Ended June 30, 2010 | 8.88 | 0.05 | 1.43 | 1.48 | (0.04 | ) | — | — | (0.04 | ) | ||||||||||||||||||||||
Period Ended June 30, 2009(f) | 12.93 | 0.05 | (4.05 | ) | (4.00 | ) | (0.05 | ) | — | (0.00 | )(g) | (0.05 | ) | |||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(c) | $ | 10.05 | $ | 0.03 | $ | 3.20 | $ | 3.23 | $ | (0.04 | ) | $ | — | $ | — | $ | (0.04 | ) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | For the period July 6, 2010 (commencement of operations) through December 31, 2010. |
(d) | For the period July 18, 2008 (commencement of operations) through June 30, 2009. |
(e) | For the period August 8, 2008 (commencement of operations) through June 30, 2009. |
(f) | For the period from August 15, 2008 (commencement of operations) through June 30, 2009. |
(g) | Amount rounds to less than $0.005 per share. |
See accompanying notes to financial statements.
190
Table of Contents
Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||
Net Asset Value, End of Period | Total Return(a) | Net Assets, 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) | |||||||||||||||||||||||
$ | 11.95 | 20.90 | % | $ | 519,256 | 0.39 | % | 0.33 | % | 0.33 | % | 1.79 | % | 26.19 | % | |||||||||||||||
9.98 | 14.94 | % | 411,468 | 0.38 | % | 0.33 | % | 0.34 | % | 1.88 | % | 77.68 | % | |||||||||||||||||
8.84 | (29.60 | )% | 477,437 | 0.41 | % | 0.35 | % | 0.40 | % | 2.69 | % | 139.39 | % | |||||||||||||||||
13.22 | (17.95 | )% | 1,090,524 | 0.45 | % | 0.43 | % | 0.45 | % | 2.08 | % | 76.84 | % | |||||||||||||||||
18.26 | 22.40 | % | 1,160,005 | 0.44 | % | 0.42 | % | 0.44 | % | 2.05 | % | 69.13 | % | |||||||||||||||||
16.03 | 14.31 | % | 921,286 | 0.45 | % | 0.43 | % | 0.45 | % | 1.77 | % | 73.19 | % | |||||||||||||||||
$ | 11.95 | 21.51 | % | $ | 604 | 0.64 | % | 0.33 | % | 0.33 | % | 1.83 | % | 26.19 | % | |||||||||||||||
$ | 12.39 | 21.73 | % | $ | 863,130 | 0.41 | % | 0.36 | % | 0.36 | % | 1.69 | % | 35.83 | % | |||||||||||||||
10.26 | 15.54 | % | 688,971 | 0.42 | % | 0.37 | % | 0.38 | % | 1.60 | % | 107.30 | % | |||||||||||||||||
9.02 | (28.85 | )% | 377,956 | 0.41 | % | 0.38 | % | 0.41 | % | 2.96 | % | 129.30 | % | |||||||||||||||||
$ | 12.40 | 22.43 | % | $ | 1,119 | 0.66 | % | 0.36 | % | 0.36 | % | 1.70 | % | 35.83 | % | |||||||||||||||
$ | 12.98 | 25.49 | % | $ | 714,137 | 0.38 | % | 0.38 | % | 0.38 | % | 0.80 | % | 25.61 | % | |||||||||||||||
10.39 | 11.26 | % | 589,930 | 0.37 | % | 0.37 | % | 0.37 | % | 0.89 | % | 51.80 | % | |||||||||||||||||
9.42 | (21.17 | )% | 783,162 | 0.39 | % | 0.38 | % | 0.39 | % | 1.00 | % | 72.93 | % | |||||||||||||||||
12.09 | (4.99 | )% | 1,793,843 | 0.32 | % | 0.31 | % | 0.32 | % | 0.94 | % | 42.13 | % | |||||||||||||||||
12.85 | 15.02 | % | 1,652,976 | 0.32 | % | 0.32 | % | 0.32 | % | 0.91 | % | 39.88 | % | |||||||||||||||||
11.26 | 5.90 | % | 1,280,492 | 0.30 | % | 0.29 | % | 0.30 | % | 0.78 | % | 60.01 | % | |||||||||||||||||
$ | 12.97 | 25.27 | % | $ | 730 | 0.63 | % | 0.38 | % | 0.38 | % | 0.85 | % | 25.61 | % | |||||||||||||||
$ | 13.23 | 25.51 | % | $ | 1,108,214 | 0.39 | % | 0.39 | % | 0.39 | % | 0.93 | % | 35.86 | % | |||||||||||||||
10.58 | 12.23 | % | 858,425 | 0.40 | % | 0.40 | % | 0.40 | % | 0.68 | % | 85.24 | % | |||||||||||||||||
9.50 | (21.82 | )% | 541,074 | 0.40 | % | 0.39 | % | 0.39 | % | 1.36 | % | 66.73 | % | |||||||||||||||||
$ | 13.23 | 25.39 | % | $ | 1,293 | 0.64 | % | 0.39 | % | 0.39 | % | 0.96 | % | 35.86 | % | |||||||||||||||
$ | 13.39 | 29.00 | % | $ | 138,812 | 0.77 | % | 0.77 | % | 0.77 | % | 0.57 | % | 34.94 | % | |||||||||||||||
10.41 | 16.83 | % | 113,749 | 0.74 | % | 0.73 | % | 0.74 | % | 0.37 | % | 101.53 | % | |||||||||||||||||
8.94 | (28.72 | )% | 303,317 | 0.75 | % | 0.74 | % | 0.75 | % | 0.45 | % | 99.01 | % | |||||||||||||||||
12.62 | (10.87 | )% | 663,733 | 0.62 | % | 0.61 | % | 0.62 | % | 0.63 | % | 111.13 | % | |||||||||||||||||
15.83 | 16.68 | % | 694,029 | 0.64 | % | 0.62 | % | 0.64 | % | 0.59 | % | 116.02 | % | |||||||||||||||||
15.70 | 19.99 | % | 612,037 | 0.66 | % | 0.63 | % | 0.64 | % | 0.26 | % | 101.53 | % | |||||||||||||||||
$ | 13.38 | 32.47 | % | $ | 120 | 1.02 | % | 0.77 | % | 0.77 | % | 0.73 | % | 34.94 | % | |||||||||||||||
$ | 13.24 | 28.73 | % | $ | 207,035 | 0.77 | % | 0.77 | % | 0.77 | % | 0.57 | % | 43.27 | % | |||||||||||||||
10.32 | 16.65 | % | 161,671 | 0.72 | % | 0.71 | % | 0.72 | % | 0.41 | % | 156.96 | % | |||||||||||||||||
8.88 | (31.85 | )% | 200,992 | 0.75 | % | 0.73 | % | 0.74 | % | 0.65 | % | 71.46 | % | |||||||||||||||||
$ | 13.24 | 32.19 | % | $ | 197 | 1.02 | % | 0.77 | % | 0.77 | % | 0.61 | % | 43.27 | % |
See accompanying notes to financial statements.
191
Table of Contents
HC CAPITAL TRUST
Financial Highlights (continued)
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting From Operations: | Distributions to Shareholders: | |||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net investment income (loss) | Net realized/ unrealized gains (losses) on investments | Total from Operations | Net investment income | Net realized gains from investments | Tax Return of capital | Total distributions to shareholders | |||||||||||||||||||||||||
The Real Estate Securities Portfolio | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 13.53 | $ | 0.24 | $ | 3.00 | $ | 3.24 | $ | (0.39 | ) | $ | (0.46 | ) | $ | — | $ | (0.85 | ) | |||||||||||||
Year Ended June 30, 2010 | 10.08 | 0.21 | 3.53 | 3.74 | (0.27 | ) | (0.02 | ) | — | (0.29 | ) | |||||||||||||||||||||
Period Ended June 30, 2009(c) | 10.00 | 0.02 | 0.07 | 0.09 | (0.01 | ) | — | — | (0.01 | ) | ||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(d) | $ | 13.08 | $ | 0.23 | $ | 3.46 | $ | 3.69 | $ | (0.39 | ) | $ | (0.46 | ) | $ | — | $ | (0.85 | ) | |||||||||||||
The Commodity Related Securities | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 9.57 | $ | 0.02 | $ | 3.28 | $ | 3.30 | $ | (0.02 | ) | $ | (0.14 | ) | $ | — | $ | (0.16 | ) | |||||||||||||
Period Ended June 30, 2010(e) | 10.00 | — | (h) | (0.43 | ) | (0.43 | ) | — | — | — | — | |||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(d) | $ | 9.71 | $ | 0.02 | $ | 3.14 | $ | 3.16 | $ | (0.02 | ) | $ | (0.14 | ) | $ | — | $ | (0.16 | ) | |||||||||||||
The International Equity Portfolio | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 8.51 | $ | 0.04 | $ | 2.08 | $ | 2.12 | $ | (0.04 | ) | $ | — | $ | — | $ | (0.04 | ) | ||||||||||||||
Year Ended June 30, 2010 | 7.92 | 0.17 | 0.58 | 0.75 | (0.16 | ) | — | — | (0.16 | ) | ||||||||||||||||||||||
Year Ended June 30, 2009 | 12.41 | 0.17 | (4.17 | ) | (4.00 | ) | (0.13 | ) | (0.35 | ) | (0.01 | ) | (0.49 | ) | ||||||||||||||||||
Year Ended June 30, 2008 | 15.35 | 0.26 | (1.36 | ) | (1.10 | ) | (0.28 | ) | (1.56 | ) | — | (1.84 | ) | |||||||||||||||||||
Year Ended June 30, 2007 | 13.02 | 0.30 | 2.97 | 3.27 | (0.34 | ) | (0.60 | ) | — | (0.94 | ) | |||||||||||||||||||||
Year Ended June 30, 2006 | 10.41 | 0.17 | 2.72 | 2.89 | (0.28 | ) | — | — | (0.28 | ) | ||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(d) | $ | 8.74 | $ | 0.02 | $ | 1.88 | $ | 1.90 | $ | (0.04 | ) | $ | — | $ | — | $ | (0.04 | ) | ||||||||||||||
The Institutional International Equity Portfolio | ||||||||||||||||||||||||||||||||
Six Months Ended December 31,2010 | $ | 8.51 | $ | 0.04 | $ | 2.06 | $ | 2.10 | $ | (0.06 | ) | $ | — | $ | — | $ | (0.06 | ) | ||||||||||||||
Period Ended June 30, 2010(f) | 9.64 | 0.14 | (1.14 | ) | (1.00 | ) | (0.13 | ) | — | — | (0.13 | ) | ||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(d) | $ | 8.73 | $ | 0.04 | $ | 1.84 | $ | 1.88 | $ | (0.06 | ) | $ | — | $ | — | $ | (0.06 | ) | ||||||||||||||
The Emerging Markets Portfolio | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 17.81 | $ | 0.06 | $ | 4.83 | $ | 4.89 | $ | (0.15 | ) | $ | (0.22 | ) | $ | — | $ | (0.37 | ) | |||||||||||||
Period Ended June 30, 2010(g) | 18.84 | 0.12 | (1.15 | ) | (1.03 | ) | — | — | (h) | — | — | (h) | ||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(d) | $ | 18.17 | $ | 0.04 | $ | 4.49 | $ | 4.53 | $ | (0.15 | ) | $ | (0.22 | ) | $ | — | $ | (0.37 | ) | |||||||||||||
The Core Fixed Income Portfolio | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 10.25 | $ | 0.09 | $ | 0.01 | $ | 0.10 | $ | (0.13 | ) | $ | (0.20 | ) | $ | — | $ | (0.33 | ) | |||||||||||||
Year Ended June 30, 2010 | 9.57 | 0.32 | 0.70 | 1.02 | (0.34 | ) | — | — | (0.34 | ) | ||||||||||||||||||||||
Year Ended June 30, 2009 | 9.78 | 0.46 | (0.17 | ) | 0.29 | (0.50 | ) | — | — | (0.50 | ) | |||||||||||||||||||||
Year Ended June 30, 2008 | 9.69 | 0.51 | 0.09 | 0.60 | (0.51 | ) | — | — | (0.51 | ) | ||||||||||||||||||||||
Year Ended June 30, 2007 | 9.67 | 0.48 | 0.02 | 0.50 | (0.48 | ) | — | — | (0.48 | ) | ||||||||||||||||||||||
Year Ended June 30, 2006 | 10.21 | 0.42 | (0.45 | ) | (0.03 | ) | (0.48 | ) | (0.03 | ) | — | (0.51 | ) | |||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(d) | $ | 10.27 | $ | 0.12 | $ | (0.04 | ) | $ | 0.08 | $ | (0.13 | ) | $ | (0.20 | ) | $ | — | $ | (0.33 | ) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | For the period May 21, 2009 (commencement of operations) through June 30, 2009. |
(d) | For the period July 6, 2010 (commencement of operations) through December 31, 2010. |
(e) | For the period June 8, 2010 (commencement of operations) through June 30, 2010. |
(f) | For the period November 20, 2009 (commencement of operations) through June 30, 2010. |
(g) | For the period December 10, 2009 (commencement of operations) through June 30, 2010. |
(h) | Amount rounds to less than $0.005 per share. |
See accompanying notes to financial statements.
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Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||
Net Asset Value, End of Period | Total Return(a) | Net Assets, 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) | |||||||||||||||||||||||
$ | 15.92 | 24.06 | %(a) | $ | 266,421 | 0.80 | % | 0.80 | % | 0.80 | % | 3.17 | % | 28.24 | % | |||||||||||||||
13.53 | 37.08 | % | 207,039 | 0.82 | % | 0.82 | % | 0.82 | % | 1.91 | % | 45.39 | % | |||||||||||||||||
10.08 | 0.91 | % | 37,123 | 1.05 | % | 1.05 | % | 1.05 | % | 1.57 | % | 4.41 | % | |||||||||||||||||
$ | 15.92 | 28.42 | % | $ | 366 | 1.05 | % | 0.80 | % | 0.80 | % | 3.24 | % | 28.24 | % | |||||||||||||||
$ | 12.71 | 34.59 | % | $ | 230,894 | 1.05 | % | 1.05 | % | 1.05 | % | 0.36 | % | 43.03 | % | |||||||||||||||
9.57 | (4.30 | )% | 120,841 | 1.06 | % | 1.06 | % | 1.06 | % | (0.40 | )% | 3.26 | % | |||||||||||||||||
$ | 12.71 | 32.65 | % | $ | 280 | 1.30 | % | 1.05 | % | 1.05 | % | 0.38 | % | 43.03 | % | |||||||||||||||
$ | 10.59 | 24.95 | % | $ | 1,134,731 | 0.62 | % | 0.62 | % | 0.62 | % | 0.86 | % | 24.08 | % | |||||||||||||||
8.51 | 9.39 | % | 926,187 | 0.60 | % | 0.60 | % | 0.60 | % | 1.51 | % | 74.59 | % | |||||||||||||||||
7.92 | (31.95 | )% | 1,678,621 | 0.62 | % | 0.61 | % | 0.62 | % | 2.41 | % | 70.27 | % | |||||||||||||||||
12.41 | (8.11 | )% | 1,811,359 | 0.81 | % | 0.81 | % | 0.81 | % | 1.80 | % | 57.27 | % | |||||||||||||||||
15.35 | 25.81 | % | 1,934,888 | 0.34 | % | 0.33 | % | 0.34 | % | 2.19 | % | 53.77 | % | |||||||||||||||||
13.02 | 27.93 | % | 1,511,194 | 0.72 | % | 0.70 | % | 0.71 | % | 1.43 | % | 37.24 | % | |||||||||||||||||
$ | 10.60 | 21.77 | % | $ | 1,147 | 0.87 | % | 0.62 | % | 0.62 | % | 0.80 | % | 24.08 | % | |||||||||||||||
$ | 10.55 | 24.71 | % | $ | 1,773,739 | 0.61 | % | 0.61 | % | 0.61 | % | 0.90 | % | 27.74 | % | |||||||||||||||
8.51 | (10.46 | )% | 1,417,353 | 0.60 | % | 0.59 | % | 0.60 | % | 2.48 | % | 24.84 | % | |||||||||||||||||
$ | 10.55 | 21.57 | % | $ | 2,051 | 0.86 | % | 0.61 | % | 0.61 | % | 0.94 | % | 27.74 | % | |||||||||||||||
$ | 22.33 | 27.53 | % | $ | 494,428 | 1.05 | % | 1.05 | % | 1.05 | % | 0.62 | % | 30.62 | % | |||||||||||||||
17.81 | (5.45 | )% | 345,184 | 1.04 | % | 1.04 | % | 1.04 | % | 1.32 | % | 44.29 | % | |||||||||||||||||
$ | 22.33 | 24.94 | % | $ | 816 | 1.30 | % | 1.05 | % | 1.05 | % | 0.47 | % | 30.62 | % | |||||||||||||||
$ | 10.02 | 0.92 | % | $ | 103,951 | 0.34 | % | 0.34 | % | 0.34 | % | 2.39 | % | 473.15 | % | |||||||||||||||
10.25 | 10.78 | % | 356,056 | 0.34 | % | 0.34 | % | 0.34 | % | 3.23 | % | 511.41 | % | |||||||||||||||||
9.57 | 3.19 | % | 299,234 | 0.38 | % | 0.38 | % | 0.38 | % | 4.88 | % | 221.65 | % | |||||||||||||||||
9.78 | 6.20 | % | 310,476 | 0.34 | % | 0.34 | % | 0.34 | % | 5.09 | % | 201.23 | % | |||||||||||||||||
9.69 | 5.22 | % | 267,050 | 0.35 | % | 0.35 | % | 0.35 | % | 4.87 | % | 159.95 | % | |||||||||||||||||
9.67 | (0.31 | )% | 255,911 | 0.37 | % | 0.37 | % | 0.37 | % | 4.25 | % | 573.92 | % | |||||||||||||||||
$ | 10.02 | 0.73 | % | $ | 2,205 | 0.59 | % | 0.34 | % | 0.34 | % | 2.10 | % | 473.15 | % |
See accompanying notes to financial statements.
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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 | Tax Return of capital | Total distributions to shareholders | |||||||||||||||||||||||||
The Fixed Income Portfolio | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 9.13 | $ | 0.14 | $ | 0.02 | $ | 0.16 | $ | (0.15 | ) | $ | — | $ | — | $ | (0.15 | ) | ||||||||||||||
Year Ended June 30, 2010 | 8.28 | 0.41 | 0.82 | 1.23 | (0.38 | ) | — | — | (0.38 | ) | ||||||||||||||||||||||
Year Ended June 30, 2009 | 9.48 | 0.46 | (1.20 | ) | (0.74 | ) | (0.46 | ) | — | — | (0.46 | ) | ||||||||||||||||||||
Year Ended June 30, 2008 | 9.75 | 0.52 | (0.27 | ) | 0.25 | (0.52 | ) | — | — | (0.52 | ) | |||||||||||||||||||||
Year Ended June 30, 2007 | 9.66 | 0.50 | 0.09 | 0.59 | (0.50 | ) | — | — | (0.50 | ) | ||||||||||||||||||||||
Year Ended June 30, 2006 | 10.23 | 0.46 | (0.54 | ) | (0.08 | ) | (0.49 | ) | — | — | (0.49 | ) | ||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(c) | $ | 9.13 | $ | 0.15 | $ | 0.01 | $ | 0.16 | $ | (0.15 | ) | $ | — | $ | — | $ | (0.15 | ) | ||||||||||||||
The Fixed Income Opportunity Portfolio | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 6.73 | $ | 0.28 | $ | 0.49 | $ | 0.77 | $ | (0.32 | ) | $ | — | $ | — | $ | (0.32 | ) | ||||||||||||||
Year Ended June 30, 2010 | 6.19 | 0.58 | 0.52 | 1.10 | (0.56 | ) | — | — | (0.56 | ) | ||||||||||||||||||||||
Year Ended June 30, 2009 | 6.92 | 0.49 | (0.73 | ) | (0.24 | ) | (0.49 | ) | — | — | (0.49 | ) | ||||||||||||||||||||
Year Ended June 30, 2008 | 7.58 | 0.52 | (0.57 | ) | (0.05 | ) | (0.61 | ) | — | — | (0.61 | ) | ||||||||||||||||||||
Year Ended June 30, 2007 | 7.29 | 0.57 | 0.20 | 0.77 | (0.48 | ) | — | — | (0.48 | ) | ||||||||||||||||||||||
Year Ended June 30, 2006 | 7.68 | 0.45 | (0.40 | ) | 0.05 | (0.44 | ) | — | — | (0.44 | ) | |||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(c) | $ | 6.74 | $ | 0.25 | $ | 0.51 | $ | 0.76 | $ | (0.32 | ) | $ | — | $ | — | $ | (0.32 | ) | ||||||||||||||
The U.S. Government Fixed Income Securities Portfolio |
| |||||||||||||||||||||||||||||||
Period Ended December 31, 2010(d) | $ | 10.00 | $ | 0.01 | $ | (0.12 | ) | $ | (0.11 | ) | $ | (0.01 | ) | $ | — | $ | — | $ | (0.01 | ) | ||||||||||||
The U.S. Corporate Fixed Income Securities Portfolio |
| |||||||||||||||||||||||||||||||
Period Ended December 31, 2010(d) | $ | 10.00 | $ | 0.02 | $ | (0.11 | ) | $ | (0.09 | ) | $ | (0.02 | ) | $ | — | $ | — | $ | (0.02 | ) | ||||||||||||
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio |
| |||||||||||||||||||||||||||||||
Period Ended December 31, 2010(d) | $ | 10.00 | $ | — | $ | (0.05 | ) | $ | (0.05 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
The Short-Term Municipal Bond Portfolio | ||||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 10.28 | $ | 0.11 | $ | (0.09 | ) | $ | 0.02 | $ | (0.12 | ) | $ | (0.01 | ) | $ | — | $ | (0.13 | ) | ||||||||||||
Year Ended June 30, 2010 | 10.23 | 0.27 | 0.07 | 0.34 | (0.26 | ) | (0.03 | ) | — | (0.29 | ) | |||||||||||||||||||||
Year Ended June 30, 2009 | 10.04 | 0.31 | 0.20 | 0.51 | (0.31 | ) | (0.01 | ) | — | (0.32 | ) | |||||||||||||||||||||
Year Ended June 30, 2008 | 9.93 | 0.33 | 0.12 | 0.45 | (0.34 | ) | — | — | (0.34 | ) | ||||||||||||||||||||||
Year Ended June 30, 2007 | 9.93 | 0.34 | — | (e) | 0.34 | (0.34 | ) | — | — | (0.34 | ) | |||||||||||||||||||||
Period Ended June 30, 2006(f) | 10.00 | 0.09 | (0.07 | ) | 0.02 | (0.09 | ) | — | — | (0.09 | ) | |||||||||||||||||||||
The Intermediate Term Municipal Bond Portfolio |
| |||||||||||||||||||||||||||||||
Six Months Ended December 31, 2010 | $ | 9.59 | $ | 0.17 | $ | (0.20 | ) | $ | (0.03 | ) | $ | (0.18 | ) | $ | — | $ | — | $ | (0.18 | ) | ||||||||||||
Year Ended June 30, 2010 | 9.17 | 0.36 | 0.42 | 0.78 | (0.36 | ) | — | — | (0.36 | ) | ||||||||||||||||||||||
Year Ended June 30, 2009 | 9.58 | 0.40 | (0.41 | ) | (0.01 | ) | (0.40 | ) | — | — | (0.40 | ) | ||||||||||||||||||||
Year Ended June 30, 2008 | 9.77 | 0.41 | (0.19 | ) | 0.22 | (0.41 | ) | — | — | (0.41 | ) | |||||||||||||||||||||
Year Ended June 30, 2007 | 9.77 | 0.43 | — | (e) | 0.43 | (0.43 | ) | — | — | (0.43 | ) | |||||||||||||||||||||
Year Ended June 30, 2006 | 10.14 | 0.42 | (0.37 | ) | 0.05 | (0.42 | ) | — | — | (0.42 | ) | |||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(c) | $ | 9.61 | $ | 0.15 | $ | (0.20 | ) | $ | (0.05 | ) | $ | (0.18 | ) | $ | — | $ | — | $ | (0.18 | ) | ||||||||||||
The Intermediate Term Municipal Bond II Portfolio |
| |||||||||||||||||||||||||||||||
Period Ended December 31, 2010(g) | $ | 10.00 | $ | 0.07 | $ | (0.19 | ) | $ | (0.12 | ) | $ | (0.07 | ) | $ | — | $ | — | $ | (0.07 | ) | ||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||
Period Ended December 31, 2010(h) | $ | 10.11 | $ | 0.04 | $ | (0.29 | ) | $ | (0.25 | ) | $ | (0.05 | ) | $ | — | $ | — | $ | (0.05 | ) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | For the period July 6, 2010 (commencement of operations) through December 31, 2010. |
(d) | For the period December 6, 2010 (commencement of operations) through December 31, 2010. |
(e) | Amount rounds to less than $0.005 per share. |
(f) | For the period March 1, 2006 (commencement of operations) through June 30, 2006. |
(g) | For the period July 13, 2010 (commencement of operations) through December 31, 2010. |
(h) | For the period October 6, 2010 (commencement of operations) through December 31, 2010. |
See accompanying notes to financial statements.
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Table of Contents
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) | |||||||||||||||||||||||
$ | 9.14 | 1.76 | % | $ | 38,325 | 0.34 | % | 0.33 | % | 0.33 | % | 3.66 | % | 325.05 | % | |||||||||||||||
9.13 | 15.10 | % | 419,008 | 0.34 | % | 0.32 | % | 0.32 | % | 4.61 | % | 367.50 | % | |||||||||||||||||
8.28 | (7.72 | )% | 349,846 | 0.37 | % | 0.35 | % | 0.35 | % | 5.51 | % | 334.70 | % | |||||||||||||||||
9.48 | 2.51 | % | 302,392 | 0.33 | % | 0.32 | % | 0.32 | % | 5.30 | % | 221.76 | % | |||||||||||||||||
9.75 | 6.23 | % | 257,670 | 0.35 | % | 0.33 | % | 0.33 | % | 5.11 | % | 169.45 | % | |||||||||||||||||
9.66 | (0.77 | )% | 231,215 | 0.36 | % | 0.35 | % | 0.35 | % | 4.68 | % | 175.82 | % | |||||||||||||||||
$ | 9.14 | 1.76 | % | $ | — | 0.59 | % | 0.33 | % | 0.33 | % | 3.68 | % | 325.05 | % | |||||||||||||||
$ | 7.18 | 11.62 | % | $ | 450,276 | 0.56 | % | 0.56 | % | 0.56 | % | 8.06 | % | 80.51 | % | |||||||||||||||
6.73 | 18.19 | % | 378,847 | 0.56 | % | 0.56 | % | 0.56 | % | 8.57 | % | 126.93 | % | |||||||||||||||||
6.19 | (2.79 | )% | 283,894 | 0.60 | % | 0.60 | % | 0.60 | % | 8.72 | % | 100.90 | % | |||||||||||||||||
6.92 | (0.64 | )% | 157,623 | 0.57 | % | 0.57 | % | 0.57 | % | 7.23 | % | 113.40 | % | |||||||||||||||||
7.58 | 10.40 | % | 145,576 | 0.61 | % | 0.61 | % | 0.61 | % | 7.46 | % | 139.66 | % | |||||||||||||||||
7.29 | 0.81 | % | 134,854 | 0.66 | % | 0.66 | % | 0.66 | % | 5.89 | % | 27.34 | % | |||||||||||||||||
$ | 7.18 | 11.46 | % | $ | 715 | 0.81 | % | 0.56 | % | 0.56 | % | 8.02 | % | 80.51 | % | |||||||||||||||
$ | 9.88 | (1.12 | %) | $ | 226,031 | 0.30 | % | 0.30 | % | 0.30 | % | 1.11 | % | 40.89 | % | |||||||||||||||
$ | 9.89 | (0.90 | )% | $ | 176,639 | 0.41 | % | 041 | % | 0.41 | % | 2.78 | % | 90.73 | % | |||||||||||||||
$ | 9.95 | (0.50 | )% | $ | 216,502 | 0.36 | % | 0.36 | % | 0.36 | % | (0.03 | )% | 55.77 | % | |||||||||||||||
$ | 10.17 | 0.20 | % | $ | 35,624 | 0.29 | % | 0.29 | % | 0.29 | % | 2.22 | % | 15.06 | % | |||||||||||||||
10.28 | 3.39 | % | 37,806 | 0.29 | % | 0.29 | % | 0.29 | % | 2.59 | % | 25.70 | % | |||||||||||||||||
10.23 | 5.16 | % | 29,490 | 0.31 | % | 0.30 | % | 0.30 | % | 3.05 | % | 18.99 | % | |||||||||||||||||
10.04 | 4.53 | % | 32,801 | 0.31 | % | 0.31 | % | 0.31 | % | 3.26 | % | 37.07 | % | |||||||||||||||||
9.93 | 3.44 | % | 29,710 | 0.30 | % | 0.30 | % | 0.30 | % | 3.35 | % | 33.45 | % | |||||||||||||||||
9.93 | 0.22 | % | 32,275 | 0.60 | % | 0.60 | % | 0.60 | % | 2.88 | % | 29.56 | % | |||||||||||||||||
$ | 9.38 | (0.35 | )% | $ | 514,787 | 0.34 | % | 0.34 | % | 0.34 | % | 3.40 | % | 13.27 | % | |||||||||||||||
9.59 | 8.57 | % | 579,760 | 0.34 | % | 0.34 | % | 0.34 | % | 3.78 | % | 36.62 | % | |||||||||||||||||
9.17 | (0.07 | )% | 489,168 | 0.35 | % | 0.35 | % | 0.35 | % | 4.26 | % | 23.80 | % | |||||||||||||||||
9.58 | 2.29 | % | 583,889 | 0.33 | % | 0.33 | % | 0.33 | % | 4.26 | % | 17.20 | % | |||||||||||||||||
9.77 | 4.38 | % | 575,373 | 0.34 | % | 0.34 | % | 0.34 | % | 4.32 | % | 14.63 | % | |||||||||||||||||
9.77 | 0.48 | % | 547,233 | 0.35 | % | 0.35 | % | 0.35 | % | 4.19 | % | 17.79 | % | |||||||||||||||||
$ | 9.38 | (0.55 | )% | $ | 817 | 0.59 | % | 0.34 | % | 0.34 | % | 3.40 | % | 13.27 | % | |||||||||||||||
$ | 9.81 | (1.18 | )% | $ | 61,414 | 0.34 | % | 0.34 | % | 0.34 | % | 1.63 | % | — | % | |||||||||||||||
$ | 9.81 | (2.31 | )% | $ | 207 | 0.59 | % | 0.34 | % | 0.34 | % | 1.79 | % | — | % |
See accompanying notes to financial statements.
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Notes to Financial Statements — December 31, 2010 (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, 2010, 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 Equity Portfolio (“Small Cap Portfolio”), The Institutional Small Capitalization Equity Portfolio (“Institutional Small Cap Portfolio”), The Real Estate Securities Portfolio (“Real Estate Portfolio”), The Commodity Related Securities 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” and formerly known as The Fixed Income II Portfolio), The Fixed Income Portfolio (“Fixed Income Portfolio”), The Fixed Income Opportunity Portfolio (“Fixed Opportunity Portfolio”), The U.S. Government Fixed Income Securities Portfolio (“U.S. Government Fixed Income Portfolio”), The U.S. Corporate Fixed Income Securities Portfolio (“U.S. Corporate Fixed Income Portfolio”), The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio (“U.S. Mortgage/Asset Backed Fixed Income Portfolio”), The Short-Term Municipal Bond Portfolio (“Short-Term Municipal Portfolio”), The Intermediate Term Municipal Bond Portfolio (“Intermediate Municipal Portfolio”) and The Intermediate Term Municipal Bond II Portfolio (“Intermediate Municipal II Portfolio”) (each a “Portfolio” and collectively the “Portfolios”).
Each Portfolio is authorized to issue unlimited 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, 2010, 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 the fees paid under the Distribution and Service Plan and 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 and Commodity Portfolio are diversified portfolios under the 1940 Act. The Real Estate Portfolio and Commodity Portfolio are non-diversified portfolios, which means that they may concentrate their 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.
The Intermediate Municipal II Portfolio commenced operations on July 13, 2010. The U.S. Government Fixed Income Portfolio, U.S. Corporate Fixed Income Portfolio, and U.S. Mortgage/Asset Backed Fixed Income Portfolio commenced operations on December 6, 2010.
2. SIGNIFICANT ACCOUNTING POLICIES. The following is a summary of the significant accounting policies followed by the Portfolios:
A. Portfolio Valuation. The net asset value (“NAV”) per share of the Portfolios 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 Portfolio’s NAV per share is calculated by adding the value of all securities and other assets of the Portfolio, subtracting its liabilities and dividing the result by the number of its outstanding shares.
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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 procedures adopted by the Board, 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.
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 the 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 risk 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 security is valued at the closing bid price. Readily marketable securities traded only in the over-the-counter market and not on NASDAQ are valued at the last bid price. In each of these situations, valuations are typically categorized as Level 1 in the fair value hierarchy.
Securities listed on a foreign exchange are valued at the last quoted sales price available provided that where 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, and are typically categorized as Level 1 in the fair value hierarchy. If there have been no sales on such exchange, the security is valued at the mean of the bid and asking price and typically categorized as Level 2 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 and U.S. Government and Agency Securities): Fixed income securities are valued using various inputs including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, and industry and market events, and are typically categorized as Level 2 in the fair value hierarchy.
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Short Term Obligations: Short-term obligations with maturities of 60 days or less are valued at amortized cost, which constitutes fair value as determined by the Board, and are typically categorized as Level 2 in the fair value hierarchy.
Asset Backed Securities: In addition to the inputs discussed above for “Fixed Income Securities,” asset 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.
Derivative Instruments (Futures, Options, Swaps and Forward Currency Contracts): Interest rate 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 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, 2010 (amounts in thousands):
Portfolio | Level 1 - Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | ||||||||||||
Value Portfolio | ||||||||||||||||
Common Stocks1 | $ | 510,715 | $ | — | $ | — | $ | 510,715 | ||||||||
U.S. Treasury Obligations | — | 189 | — | 189 | ||||||||||||
Time Deposits | — | 7,547 | — | 7,547 | ||||||||||||
Mutual Funds | 98 | — | — | 98 | ||||||||||||
Total Investments | $ | 510,813 | $ | 7,736 | $ | — | $ | 518,549 | ||||||||
Other Financial Instruments2 | ||||||||||||||||
Futures | 27 | — | — | 27 | ||||||||||||
Institutional Value Portfolio | ||||||||||||||||
Common Stocks1 | $ | 709,498 | $ | — | $ | — | $ | 709,498 | ||||||||
Corporate Bonds1 | — | 7,805 | — | 7,805 | ||||||||||||
Asset Backed Securities | — | 2,585 | — | 2,585 | ||||||||||||
Collateralized Mortgage Obligations | — | 26,437 | — | 26,437 | ||||||||||||
Certificates of Deposit | — | 903 | — | 903 | ||||||||||||
Global Bonds3 | — | 6,777 | — | 6,777 | ||||||||||||
Municipal Bonds4 | — | 2,525 | — | 2,525 | ||||||||||||
U.S. Government Agency Mortgages | — | 31,166 | — | 31,166 | ||||||||||||
U.S. Treasury Obligations | — | 27,212 | — | 27,212 | ||||||||||||
Yankee Dollars1 | — | 6,014 | — | 6,014 | ||||||||||||
Time Deposits | — | 10,898 | — | 10,898 | ||||||||||||
Mutual Funds | 4,420 | — | — | 4,420 | ||||||||||||
Put Options Purchased | 3 | — | — | 3 | ||||||||||||
Repurchase Agreements | — | 18,400 | — | 18,400 | ||||||||||||
Total Investments | $ | 713,921 | $ | 140,722 | $ | — | $ | 854,643 | ||||||||
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Portfolio | Level 1 - Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | ||||||||||||
Institutional Value Portfolio (continued) |
| |||||||||||||||
TBA Sale Commitments | $ | — | $ | (28,025 | ) | $ | — | $ | (28,025 | ) | ||||||
Other Financial Instruments2 | ||||||||||||||||
Futures | 5,006 | — | — | 5,006 | ||||||||||||
Currency Contracts | — | 267 | — | 267 | ||||||||||||
Written Options | (12 | ) | (150 | ) | — | (162 | ) | |||||||||
Interest Rate Swaps | — | 344 | — | 344 | ||||||||||||
Growth Portfolio | ||||||||||||||||
Common Stocks1 | $ | 708,988 | $ | — | $ | — | $ | 708,988 | ||||||||
U.S. Treasury Obligations | — | 152 | — | 152 | ||||||||||||
Time Deposits | — | 4,802 | — | 4,802 | ||||||||||||
Mutual Funds | 64 | — | — | 64 | ||||||||||||
Total Investments | $ | 709,052 | $ | 4,954 | $ | — | $ | 714,006 | ||||||||
Other Financial Instruments2 | ||||||||||||||||
Futures | 13 | — | — | 13 | ||||||||||||
Institutional Growth Portfolio |
| |||||||||||||||
Common Stocks1 | $ | 900,034 | $ | — | $ | — | $ | 900,034 | ||||||||
Corporate Bonds1 | — | 8,766 | — | 8,766 | ||||||||||||
Asset Backed Securities | — | 4,979 | — | 4,979 | ||||||||||||
Collateralized Mortgage Obligations | — | 39,848 | — | 39,848 | ||||||||||||
Certificates of Deposit | — | 1,305 | — | 1,305 | ||||||||||||
Global Bonds3 | — | 8,637 | — | 8,637 | ||||||||||||
Municipal Bonds4 | — | 3,337 | — | 3,337 | ||||||||||||
U.S. Government Agency Mortgages | — | 38,890 | — | 38,890 | ||||||||||||
U.S. Treasury Obligations | — | 36,615 | — | 36,615 | ||||||||||||
Yankee Dollars1 | — | 5,636 | — | 5,636 | ||||||||||||
Time Deposits | — | 18,406 | — | 18,406 | ||||||||||||
Mutual Funds | 3,417 | — | — | 3,417 | ||||||||||||
Put Options Purchased | 4 | — | — | 4 | ||||||||||||
Repurchase Agreements | — | 25,900 | — | 25,900 | ||||||||||||
Total Investments | $ | 903,455 | $ | 192,319 | $ | — | $ | 1,095,774 | ||||||||
TBA Sale Commitments | — | (35,560 | ) | — | (35,560 | ) | ||||||||||
Other Financial Instruments2 | ||||||||||||||||
Futures | 6,412 | — | — | 6,412 | ||||||||||||
Currency Contracts | — | 360 | — | 360 | ||||||||||||
Written Options | (18 | ) | (191 | ) | — | (209 | ) | |||||||||
Interest Rate Swaps | — | 439 | — | 439 | ||||||||||||
Small Cap Portfolio | ||||||||||||||||
Common Stocks1 | $ | 137,401 | $ | — | $ | — | $ | 137,401 | ||||||||
Preferred Stocks1 | 53 | — | — | 53 | ||||||||||||
Corporate Bonds1 | — | 1 | — | 1 |
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Portfolio | Level 1 - Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | ||||||||||||
Small Cap Portfolio (continued) |
| |||||||||||||||
U.S. Treasury Obligations | $ | — | $ | 10 | $ | — | $ | 10 | ||||||||
Time Deposits | — | 1,185 | — | 1,185 | ||||||||||||
Mutual Funds | 8 | — | — | 8 | ||||||||||||
Total Investments | $ | 137,462 | $ | 1,196 | $ | — | $ | 138,658 | ||||||||
Other Financial Instruments2 | ||||||||||||||||
Futures | 1 | — | — | 1 | ||||||||||||
Institutional Small Cap Portfolio |
| |||||||||||||||
Common Stocks1 | $ | 204,688 | $ | — | $ | — | $ | 204,688 | ||||||||
Preferred Stocks1 | 44 | — | — | 44 | ||||||||||||
Corporate Bonds1 | — | 1 | — | 1 | ||||||||||||
U.S. Treasury Obligations | — | 50 | — | 50 | ||||||||||||
Time Deposits | — | 2,077 | — | 2,077 | ||||||||||||
Mutual Funds | 340 | — | — | 340 | ||||||||||||
Total Investments | $ | 205,072 | $ | 2,128 | $ | — | $ | 207,200 | ||||||||
Other Financial Instruments2 | ||||||||||||||||
Futures | 4 | — | — | 4 | ||||||||||||
Real Estate Portfolio | ||||||||||||||||
Common Stocks1 | $ | 254,453 | $ | — | $ | — | $ | 254,453 | ||||||||
Time Deposits | — | 11,062 | — | $ | 11,062 | |||||||||||
Total Investments | $ | 254,453 | $ | 11,062 | $ | — | $ | 265,515 | ||||||||
Commodity Portfolio | ||||||||||||||||
Common Stocks1 | $ | 223,835 | $ | — | $ | — | $ | 223,835 | ||||||||
Time Deposits | — | 7,085 | — | 7,085 | ||||||||||||
Total Investments | $ | 223,835 | $ | 7,085 | $ | — | $ | 230,920 | ||||||||
Other Financial Instruments2 | ||||||||||||||||
Currency Contracts | — | (4 | ) | — | (4 | ) | ||||||||||
International Portfolio | ||||||||||||||||
Common Stocks1 | $ | 1,113,353 | $ | — | $ | — | 1,113,353 | |||||||||
Convertible Corporate Bonds1 | — | 248 | — | 248 | ||||||||||||
Time Deposits | — | 23,000 | — | 23,000 | ||||||||||||
Rights | 60 | — | — | 60 | ||||||||||||
Total Investments | $ | 1,113,413 | $ | 23,248 | $ | — | $ | 1,136,661 | ||||||||
Other Financial Instruments2 | ||||||||||||||||
Currency Contracts | — | (163 | ) | — | (163 | ) | ||||||||||
Institutional International Portfolio |
| |||||||||||||||
Common Stocks1 | $ | 1,727,088 | $ | — | $ | — | 1,727,088 | |||||||||
Time Deposits | — | 47,350 | — | 47,350 | ||||||||||||
Rights | 110 | — | — | 110 | ||||||||||||
Total Investments | $ | 1,727,198 | $ | 47,350 | $ | — | $ | 1,774,548 | ||||||||
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Portfolio | Level 1 - Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | ||||||||||||
Institutional International Portfolio (continued) |
| |||||||||||||||
Other Financial Instruments2 | ||||||||||||||||
Currency Contracts | — | (246 | ) | — | (246 | ) | ||||||||||
Emerging Markets Portfolio |
| |||||||||||||||
Common Stocks1 | $ | 448,609 | $ | 8,415 | $ | — | $ | 457,024 | ||||||||
Mutual Funds | 29,634 | — | — | 29,634 | ||||||||||||
Time Deposits | 940 | — | 940 | |||||||||||||
Rights | — | 16 | — | 16 | ||||||||||||
Total Investments | $ | 478,243 | $ | 9,371 | $ | — | $ | 487,614 | ||||||||
Other Financial Instruments2 | ||||||||||||||||
Futures | 502 | — | — | 502 | ||||||||||||
Currency Contracts | — | 490 | — | 490 | ||||||||||||
Core Fixed Income Portfolio |
| |||||||||||||||
Collateralized Mortgage Obligations | $ | — | $ | 1,681 | $ | — | $ | 1,681 | ||||||||
U.S. Government Agency Mortgages | — | 31,695 | — | 31,695 | ||||||||||||
U.S. Government Agency Securities | — | 4,428 | — | 4,428 | ||||||||||||
Corporate Bonds1 | — | 27,047 | — | 27,047 | ||||||||||||
U.S. Treasury Obligations | — | 60,983 | — | 60,983 | ||||||||||||
Yankee Dollars1 | — | 7,121 | — | 7,121 | ||||||||||||
Time Deposits | — | 3,177 | — | 3,177 | ||||||||||||
Total Investments | $ | — | $ | 136,132 | $ | — | $ | 136,132 | ||||||||
TBA Sale Commitments | — | (2,047 | ) | — | (2,047 | ) | ||||||||||
Other Financial Instruments2 | ||||||||||||||||
Currency Contracts | — | 42 | — | 42 | ||||||||||||
Fixed Income Portfolio |
| |||||||||||||||
Mutual Funds | $ | 38,792 | $ | — | $ | — | $ | 38,792 | ||||||||
Total Investments | $ | 38,792 | $ | — | $ | — | $ | 38,792 | ||||||||
Fixed Opportunity Portfolio |
| |||||||||||||||
Corporate Bonds1 | $ | — | $ | 360,184 | $ | — | $ | 360,184 | ||||||||
Convertible Corporate Bonds1 | — | 1,311 | — | 1,311 | ||||||||||||
Yankee Dollars1 | — | 63,241 | — | 63,241 | ||||||||||||
Common/Preferred Stocks and Rights1 | 1,021 | — | — | 1,021 | ||||||||||||
Time Deposits | — | 17,940 | — | 17,940 | ||||||||||||
Total Investments | $ | 1,021 | $ | 442,676 | $ | — | $ | 443,697 | ||||||||
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Portfolio | Level 1 - Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | ||||||||||||
U.S. Government Fixed Income Portfolio |
| |||||||||||||||
U.S. Treasury Obligations | $ | — | $ | 184,198 | $ | — | $ | 184,198 | ||||||||
U.S. Government Agency Securities | — | 28,922 | — | 28,922 | ||||||||||||
Corporate Bonds1 | — | 10,702 | — | 10,702 | ||||||||||||
Time Deposits | — | 1,028 | — | 1,028 | ||||||||||||
Total Investments | $ | — | $ | 224,850 | $ | — | $ | 224,850 | ||||||||
U.S. Corporate Fixed Income Portfolio |
| |||||||||||||||
Corporate Bonds1 | $ | — | $ | 127,652 | $ | — | $ | 127,652 | ||||||||
Yankee Dollars1 | — | 39,766 | — | 39,766 | ||||||||||||
Time Deposits | — | 6,784 | — | 6,784 | ||||||||||||
Total Investments | $ | — | $ | 174,202 | $ | — | $ | 174,202 | ||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio |
| |||||||||||||||
U.S. Government Agency Mortgages | $ | — | $ | 199,245 | $ | — | $ | 199,245 | ||||||||
U.S. Treasury Obligations | — | 196,798 | — | 196,798 | ||||||||||||
Collateralized Mortgage Obligations | — | 11,454 | — | 11,454 | ||||||||||||
Time Deposits | — | 1,569 | — | 1,569 | ||||||||||||
Total Investments | $ | — | $ | 409,066 | $ | — | $ | 409,066 | ||||||||
TBA Sale Commitments | — | (16,198 | ) | — | (16,198 | ) | ||||||||||
Short-Term Municipal Portfolio |
| |||||||||||||||
Municipal Bonds4 | $ | — | $ | 34,701 | $ | — | $ | 34,701 | ||||||||
Mutual Funds | 513 | — | — | 513 | ||||||||||||
Total Investments | $ | 513 | $ | 34,701 | $ | — | $ | 35,214 | ||||||||
Intermediate Municipal Portfolio | ||||||||||||||||
Municipal Bonds4 | $ | — | $ | 508,052 | $ | — | $ | 508,052 | ||||||||
Corporate Bonds1 | — | — | — | — | ||||||||||||
Time Deposits | — | 637 | — | 637 | ||||||||||||
Total Investments | $ | — | $ | 508,689 | $ | — | $ | 508,689 | ||||||||
Intermediate Municipal II Portfolio |
| |||||||||||||||
Municipal Bonds4 | $ | — | $ | 58,879 | $ | — | $ | 58,879 | ||||||||
Mutual Funds | 1,825 | — | — | 1,825 | ||||||||||||
Total Investments | $ | 1,825 | $ | 58,879 | $ | — | $ | 60,704 | ||||||||
1 | Please see the Portfolio of Investments for industry classification. |
2 | Other Financial Instruments are derivative instruments not reflected in the Portfolio of Investments, such as futures, currency contracts and swap agreements, which are valued at the unrealized appreciation/(depreciation) on the instrument and written options, which are valued at fair value. |
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3 | Please see the Portfolio of Investments for country classification. |
4 | Please see the Portfolio of Investments for state classification. |
Amounts designated as “—” are $0 or have been rounded to $0. |
The Trust’s policy is to disclose significant transfers between fair value hierarchy levels based on valuations at the end of the reporting period. There were no significant transfers between Level 1, 2, or 3 as of December 31, 2010, based on valuation levels assigned to securities on June 30, 2010.
In January 2010, Financial Accounting Standards Board issued Accounting Standards Update 2010-06 (“update”) to ASC 820-10, “Fair Value Measurements and Disclosures.” The update requires disclosure of Level 3 gross purchases and sales. The update is effective for interim and annual reporting periods beginning after December 15, 2010. As of December 31, 2010, no securities were categorized as Level 3.
C. Securities Transactions and Investment Income. For financial reporting purposes, portfolio security transactions are reported on trade date. However, for daily NAV determination, portfolio security 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 when known. 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 and asset backed securities are classified as investment income or loss for financial reporting purposes.
For certain securities, 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. Allocations. Expenses directly attributable to a Portfolio are charged to that Portfolio. Class specific expenses, such as distribution fees, 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/unrealized gains and losses are allocated to the respective classes based on relative net assets.
E. Dividends and Capital Gain Distributions to Shareholders. The Core Fixed Income Portfolio, Fixed Income Portfolio, U.S. Government Fixed Income Portfolio, U.S. Corporate Fixed Income Portfolio, U.S. Mortgage/Asset Backed Fixed Income Portfolio, Short-Term Municipal Portfolio, Intermediate Municipal Portfolio, and Intermediate Municipal II Portfolio declare and distribute dividends from net investment income on a monthly basis. The Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap Portfolio, Institutional Small Cap Portfolio, Real Estate Portfolio, Fixed Opportunity Portfolio, and Commodity Portfolio declare and distribute dividends from net investment income on a quarterly basis. The International Portfolio and the Institutional International Portfolio declare and distribute dividends from net investment income, if any, on a semi-annual 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 for each Portfolio.
F. 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
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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 time. Repurchase agreements could involve certain risks in the event of default or insolvency of the other party, including possible delays or restrictions upon the Portfolio’s ability to dispose of the underlying securities. The creditworthiness of those banks and non-bank dealers with which the Portfolios may enter into repurchase agreements are monitored in accordance with guidelines adopted by the Board, as is the market value of the securities underlying any repurchase agreement to ensure that the repurchase obligation of the seller is collateralized by an amount at least equal to the repurchase price including accrued interest. All repurchase agreements are fully collateralized by government securities (as defined in the 1940 Act), or securities that, at the time the repurchase agreement is entered into, are rated in the highest rating category by two or more Nationally Recognized Statistical Rating Organizations (“NRSROs”) or the only NRSRO issuing a rating, or, if unrated, are of comparable quality provided that the collateral is an eligible investment for the Portfolio.
G. TBA Purchase 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 exceeding 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.
H. 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 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” in the Statements of Operations.
For the period ended December 31, 2010, the following commissions were recaptured (amounts in thousands):
Portfolio | ||||
Value Portfolio | $ | 16 | ||
Institutional Value Portfolio | 25 | |||
Growth Portfolio | 23 | |||
Institutional Growth Portfolio | 33 | |||
Small Cap Portfolio | 1 | |||
Institutional Small Cap Portfolio | 2 | |||
Real Estate Portfolio | 3 | |||
International Portfolio | 8 | |||
Institutional International Portfolio | 6 |
I. 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,
ii) purchases and sales of investment securities and income and expenses at the exchange rate prevailing on the respective date of such transactions.
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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 is permitted and 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.
J. Derivative Instruments. Certain of the Portfolios may invest in various financial instruments including positions in forward currency contracts, financial futures contracts, options contracts, and swap agreements.
The following is a summary of the fair value of derivative instruments held by the Portfolios as of December 31, 2010 (amounts in thousands).
Asset Derivatives | Liability Derivatives | |||||||||||||||||||
Primary Risk Exposure | Portfolio | Statements of Assets and Liabilities Location | Total Fair Value* | Statements of Assets and Liabilities Location | Total Fair Value* | |||||||||||||||
Futures Contracts | ||||||||||||||||||||
Equity Exposure: | Value Portfolio | Variation margin | $ | 27 | Variation margin | $ | — | |||||||||||||
Institutional Value Portfolio | receivable on | 5,006 | payable on future | — | ||||||||||||||||
Growth Portfolio | future contracts | 13 | contracts | — | ||||||||||||||||
Institutional Growth Portfolio | 6,412 | — | ||||||||||||||||||
Small Cap Portfolio | 1 | — | ||||||||||||||||||
Institutional Small Cap Portfolio | 4 | — | ||||||||||||||||||
Emerging Markets Portfolio | 502 | — | ||||||||||||||||||
Options Contracts | ||||||||||||||||||||
Equity Exposure: | Institutional Value Portfolio | Investments, at | — | Written Options, | 12 | |||||||||||||||
Institutional Growth Portfolio | value | — | at fair value | 18 | ||||||||||||||||
Interest Rate Exposure: | Institutional Value Portfolio | Investments, at | — | Written Options, | 150 | |||||||||||||||
Institutional Growth Portfolio | value | — | at fair value | 191 |
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Asset Derivatives | Liability Derivatives | |||||||||||||||
Primary Risk Exposure | Portfolio | Statements of Assets and Liabilities Location | Total Fair Value* | Statements of Assets and Liabilities Location | Total Fair Value* | |||||||||||
Forward Currency Contracts | ||||||||||||||||
Currency Exchange Rate Exposure: | Institutional Value Portfolio | Unrealized | $ | 419 | Unrealized | $ | 152 | |||||||||
Institutional Growth Portfolio | appreciation on | 547 | depreciation on | 187 | ||||||||||||
Commodity Portfolio | forward currency | — | forward currency | 4 | ||||||||||||
International Portfolio | contracts | — | contracts | 163 | ||||||||||||
Institutional International Portfolio | — | 246 | ||||||||||||||
Emerging Markets Portfolio | 490 | — | ||||||||||||||
Core Fixed Income Portfolio | 42 | — | ||||||||||||||
Swap Agreements | ||||||||||||||||
Interest Rate Exposure: | Institutional Value Portfolio | Swaps premium paid, | 346 | Unrealized | 2 | |||||||||||
Institutional Growth Portfolio | Unrealized appreciation | 442 | depreciation on | 3 | ||||||||||||
on interest rate swap | interest rate | |||||||||||||||
agreements | swap agreements |
* | Total Fair Value is presented by Primary Risk Exposure. For forward currency contracts, such amounts represent the unrealized gain/appreciation or loss/depreciation. For written options, the amounts represent the fair value of the investments. For purchased options, the amounts represent market value as reported in the Portfolios of Investments. For futures contracts, the amounts represent the cumulative appreciation/depreciation of these futures contracts as reported in the Portfolios of Investments. Only the current day’s variation margin is reported within the Statements of Assets and Liabilities as “Variation margin on futures contracts.” For swap agreements, the amounts represent the appreciation/depreciation of these swap agreements as reported in the Portfolios of Investments and Statements of Assets and Liabilities. The premium paid is reported on the Statements of Assets and Liabilities. |
Amounts designated as “—” are $0 or have been rounded to $0. |
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The following is the summary of the effect of derivative instruments on the Statements of Operations for the period ended December 31, 2010 (amounts in thousands).
Primary Risk Exposure | Location of Gain/(Loss) on | Portfolio | Net Realized Gain/(Loss) on Derivatives Recognized in Income | Change in Unrealized Appreciation/ Depreciation on Derivatives Recognized in Income | ||||||||
Futures Contracts | ||||||||||||
Equity Exposure: | Net realized gains/(losses) | Value Portfolio | $ | 298 | $ | 68 | ||||||
from futures transactions, | Institutional Value Portfolio | 15,446 | 12,499 | |||||||||
Change in unrealized | Growth Portfolio | 228 | 84 | |||||||||
appreciation/depreciation on | Institutional Growth | |||||||||||
futures | Portfolio | 19,744 | 15,993 | |||||||||
Small Cap Portfolio | 37 | 12 | ||||||||||
Institutional Small Cap | ||||||||||||
Portfolio | 115 | 24 | ||||||||||
Emerging Markets Portfolio | 3,476 | 1,154 | ||||||||||
Interest Rate Exposure: | Institutional Growth | |||||||||||
Portfolio | (7 | ) | 3 | |||||||||
Core Fixed Income Portfolio | (1,406 | ) | (737 | ) | ||||||||
Currency Exchange Rate | Core Fixed Income Portfolio | (650 | ) | 143 | ||||||||
Exposure: | ||||||||||||
Options Contracts | ||||||||||||
Equity Exposure: | Net realized gains/(losses) | Institutional Value Portfolio | 58 | 24 | ||||||||
from investment | Institutional Growth | |||||||||||
Interest Rate Exposure: | transactions, Net realized | Portfolio | 72 | 32 | ||||||||
gains/(losses) from | Institutional Value Portfolio | 111 | 59 | |||||||||
options transactions, | Institutional Growth | |||||||||||
Change in unrealized | Portfolio | 161 | 85 | |||||||||
appreciation/depreciation | Core Fixed Income Portfolio | 8 | (23 | ) | ||||||||
on investments, Change in | ||||||||||||
unrealized appreciation/ | ||||||||||||
depreciation on options | ||||||||||||
Forward Currency Contracts | ||||||||||||
Currency Exchange Rate | Net realized gains/(losses) | Institutional Value Portfolio | (203 | ) | (263 | ) | ||||||
Exposure: | on foreign currency | Institutional Growth | ||||||||||
transactions, Change in | Portfolio | (271 | ) | (353 | ) | |||||||
unrealized appreciation/ | Commodity Portfolio | 13 | (4 | ) | ||||||||
depreciation on foreign | International Portfolio | 59 | (520 | ) | ||||||||
currency translations | Institutional International | |||||||||||
Portfolio | (65 | ) | (745 | ) | ||||||||
Emerging Markets Portfolio | 627 | 487 | ||||||||||
Core Fixed Income Portfolio | (98 | ) | (24 | ) | ||||||||
Swap Agreements | ||||||||||||
Interest Rate Exposure: | Net realized gains/(losses) | Institutional Value Portfolio | (8 | ) | 347 | |||||||
on interest rate swap | Institutional Growth | |||||||||||
transactions, Change in | Portfolio | (12 | ) | 443 | ||||||||
unrealized appreciation/ | ||||||||||||
depreciation on interest | ||||||||||||
rate swap transactions |
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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 such contracts for the purpose of hedging exposure to changes in foreign currency exchange rates on its holdings. A forward currency contract (“forward”) 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 fluctuates with changes in currency exchange rates. The forward is marked-to-market daily and the change in value is recorded by the Portfolio as unrealized appreciation or depreciation. When the forward is closed, the Portfolio records a realized gain or loss equal to the fluctuation in value during the period the forward was open. The Portfolio could be exposed to credit risk if a counterparty is unable to meet the terms of a forward or if the value of the currency changes unfavorably.
Forwards may involve market or credit 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 contracts is included in net realized gains or losses on foreign currency transactions. Fluctuations in the value of forward contracts held at December 31, 2010, are recorded for financial reporting purposes as net unrealized gains or losses by the Portfolio. In addition, at December 31, 2010, the Portfolios had entered into currency contracts to settle trades in foreign currencies. These transactions are included in the Statements of Assets and Liabilities as “Receivable from investments sold” and “Payable from investments purchased.” The contract amount of the currency contracts outstanding as of December 31, 2010 and the month-end average contract amount for all currency contracts during the period ended December 31, 2010 are detailed in the tables below:
Portfolio | Average Contract Amount (000’s) | Period Ended Currency Contract Amount (000’s) | ||||||
Institutional Value Portfolio | $ | 12,291 | $ | 26,610 | ||||
Institutional Growth Portfolio | 9,480 | 33,854 | ||||||
Real Estate Portfolio | 412 | — | ||||||
Commodity Portfolio | 315 | 275 | ||||||
International Portfolio | 7,536 | 13,101 | ||||||
Institutional International Portfolio | 7,808 | 23,038 | ||||||
Emerging Markets Portfolio | 6,030 | 14,847 | ||||||
Core Fixed Income Portfolio | 664 | 2,287 |
Financial Futures Contracts — Certain of the Portfolios may be subject to equity price risk, interest rate 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. 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 security. A Portfolio recognizes a gain or loss equal to the daily variation margin, which is recorded as a receivable or payable on the Statements of Assets and Liabilities (if applicable). When a futures contract is closed, a realized gain/(loss) is recorded as “Net realized gains/(losses) from futures transactions” on the Statements 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, there is minimal counterparty credit risk to the Portfolios since futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. Securities designated as collateral for market value on
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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 financial futures contracts outstanding at December 31, 2010 and the month-end average notional amount for the period ended December 31, 2010 are detailed in the tables below:
Portfolio | Average Notional Amount (000’s) | Period Ended Notional Amount (000’s) | ||||||
Value Portfolio | $ | 1,845 | $ | 1,978 | ||||
Institutional Value Portfolio | 132,500 | 141,032 | ||||||
Growth Portfolio | 1,275 | 1,182 | ||||||
Institutional Growth Portfolio | 169,808 | 185,299 | ||||||
Small Cap Portfolio | 205 | 155 | ||||||
Institutional Small Cap Portfolio | 632 | 465 | ||||||
Emerging Markets Portfolio | 26,267 | 28,016 | ||||||
Core Fixed Income Portfolio | 35,758 | — |
Options Contracts — Purchased Options Contracts — Certain of the Portfolios may be subject to equity price risk and interest rate risk in the normal course of pursuing their investment objectives. Certain of the Portfolios may purchase put options. Purchasing put options tends to decrease a Portfolio’s exposure to the underlying security. 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 put options which expire are treated as realized losses. When a put option is exercised or closed, premiums paid for purchasing put options are offset against proceeds to determine the realized gain/loss on the transaction.
The Institutional Value Portfolio, Institutional Growth Portfolio and Core Fixed Income Portfolio had the following transactions in purchased options during the period ended December 31, 2010:
Institutional Value Portfolio | Number of Contracts | Cost of Options Purchased (000’s) | ||||||
Options outstanding at June 30, 2010 | 116 | $ | 3 | |||||
Options purchased | 559 | 16 | ||||||
Options expired | (418 | ) | (12 | ) | ||||
Options closed | — | — | ||||||
Options outstanding at December 31, 2010 | 257 | $ | 7 | |||||
Institutional Growth Portfolio | Number of Contracts | Cost of Options Purchased (000’s) | ||||||
Options outstanding at June 30, 2010 | 159 | $ | 4 | |||||
Options purchased | 727 | 21 | ||||||
Options expired | (556 | ) | (16 | ) | ||||
Options closed | — | — | ||||||
Options outstanding at December 31, 2010 | 330 | $ | 9 | |||||
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Core Fixed Income Portfolio | Number of Contracts | Cost of Options Purchased (000’s) | ||||||
Options outstanding at June 30, 2010 | 128 | $ | 21 | |||||
Options purchased | 42 | 15 | ||||||
Options expired | (170 | ) | (36 | ) | ||||
Options closed | — | — | ||||||
Options outstanding at December 31, 2010 | — | $ | — | |||||
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. Certain of the Portfolios may write options contracts for which premiums received 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 option transactions” on the Statements of Operations. When writing an option, the Portfolio bears the market risk of unfavorable changes in the price of the underlying security of the written option.
The Institutional Value Portfolio, Institutional Growth Portfolio and Core Fixed Income Portfolio had the following transactions in written call and put options during the period ended December 31, 2010:
Institutional Value Portfolio | Number of Contracts | Premiums Received (000’s) | ||||||
Options outstanding at June 30, 2010 | (1,688 | ) | $ | (100 | ) | |||
Options written | (2,098 | ) | (243 | ) | ||||
Options expired | 2,688 | 214 | ||||||
Options closed | 12 | 23 | ||||||
Options outstanding at December 31, 2010 | (1,086 | ) | $ | (106 | ) | |||
Institutional Growth Portfolio | Number of Contracts | Premiums Received (000’s) | ||||||
Options outstanding at June 30, 2010 | (2,240 | ) | $ | (136 | ) | |||
Options written | (3,011 | ) | (321 | ) | ||||
Options expired | 3,840 | 293 | ||||||
Options closed | 15 | 29 | ||||||
Options outstanding at December 31, 2010 | (1,396 | ) | $ | (135 | ) | |||
Core Fixed Income Portfolio | Number of Contracts | Premiums Received (000’s) | ||||||
Options outstanding at June 30, 2010 | (120 | ) | $ | (130 | ) | |||
Options written | — | — | ||||||
Options expired | — | — | ||||||
Options closed | 120 | 130 | ||||||
Options outstanding at December 31, 2010 | — | $ | — | |||||
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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 a 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. Certain 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. Certain Portfolios may enter into interest rate swap contracts. Interest rate swaps involve the exchange of commitments to pay and receive interest based on a notional principal amount. The risks of interest rate swaps include changes in market conditions which will affect the value of the contract 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/paid to the counterparty over the contract’s remaining life, to the extent that amount is positive. 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.
The primary risks associated with the use of a swap are imperfect correlation between the price of financial instruments and movements in the prices of the underlying investments and the inability of counterparties to perform. The counterparty to any swap agreement will typically be a bank, investment banking firm or broker/dealer. The Portfolio will bear the counterparty risk, i.e., risk of loss of the net amount, if any, expected to be received under a swap in the event of the default or bankruptcy of the swap counterparty. The unrealized gain/loss as of the period end is disclosed in the swap tables included in the Portfolios of Investments. The Portfolios have engaged in limited swap activity. The notional amounts in the Portfolios of Investments are representative of typical volumes.
K. Use of Estimates. Estimates and assumptions are required to be made regarding assets, liabilities and changes in net assets resulting from operations when financial statements are prepared. Actual results could vary from those estimates.
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 net assets of that portion of the Portfolio managed.
For the period ended December 31, 2010, the Value Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Managers:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
SSgA Funds Management, Inc.* | $ | 33 | 0.04% | |||||
Institutional Capital, LLC | 191 | 0.35% | ||||||
AllianceBernstein L.P. | 365 | 0.37% | (a) | |||||
$ | 589 | 0.25% | ||||||
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For the period ended December 31, 2010, the Institutional Value Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Managers:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
SSgA Funds Management, Inc.* | $ | 33 | 0.04% | |||||
Institutional Capital, LLC | 357 | 0.35% | ||||||
AllianceBernstein L.P. | 557 | 0.37% | (a) | |||||
Pacific Investment Management Company LLC | 167 | 0.25% | ||||||
$ | 1,114 | 0.28% | ||||||
For the period ended December 31, 2010, the Growth Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Managers:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Jennison Associates LLC | $ | 329 | 0.25% | (b) | ||||
SSgA Funds Management, Inc.* | 29 | 0.04% | ||||||
Sustainable Growth Advisers | 473 | 0.35% | ||||||
$ | 831 | 0.25% | ||||||
For the period ended December 31, 2010, the Institutional Growth Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Managers:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Jennison Associates LLC | $ | 448 | 0.25% | (b) | ||||
SSgA Funds Management, Inc.* | 25 | 0.04% | ||||||
Sustainable Growth Advisers | 637 | 0.35% | ||||||
Pacific Investment Management Company LLC | 216 | 0.25% | ||||||
$ | 1,326 | 0.26% | ||||||
For the period ended December 31, 2010, the Small Cap Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Managers:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Frontier Capital Management Company, LLC | $ | 63 | 0.45% | |||||
Sterling Johnston Capital Management, L.P. | 58 | 0.75% | (c) | |||||
IronBridge Capital Management LP | 142 | 0.95% | ||||||
SSgA Funds Management, Inc.* | 25 | 0.16% | (d) | |||||
Pzena Investment Management, LLC | 105 | 1.00% | ||||||
$ | 393 | 0.62% | ||||||
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For the period ended December 31, 2010, the Institutional Small Cap Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Managers:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Frontier Capital Management Company, LLC | $ | 84 | 0.45% | |||||
Sterling Johnston Capital Management, L.P. | 89 | 0.75% | (c) | |||||
IronBridge Capital Management LP | 210 | 0.95% | ||||||
SSgA Funds Management, Inc.* | 25 | 0.11% | (d) | |||||
Pzena Investment Management, LLC | 174 | 1.00% | ||||||
$ | 582 | 0.62% | ||||||
For the period ended December 31, 2010, the Real Estate Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Manager:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Wellington Management Company, LLP | $ | 820 | 0.66% | (e) | ||||
For the period ended December 31, 2010, the Commodity Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Manager:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Wellington Management Company, LLP | $ | 743 | 0.85% | (f) | ||||
For the period ended December 31, 2010, the International Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Managers:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Artisan Partners Limited Partnership | $ | 601 | 0.47% | (g) | ||||
Capital Guardian Trust Company | 783 | 0.35% | (h) | |||||
Causeway Capital Management LLC | 833 | 0.45% | ||||||
$ | 2,217 | 0.41% | ||||||
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For the period ended December 31, 2010, the Institutional International Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Managers:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Artisan Partners Limited Partnership | $ | 1,016 | 0.47% | (g) | ||||
Capital Guardian Trust Company | 1,200 | 0.35% | (h) | |||||
Causeway Capital Management LLC | 1,315 | 0.45% | ||||||
$ | 3,531 | 0.41% | ||||||
For the period ended December 31, 2010, the Emerging Markets Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Managers:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
SSgA Funds Management, Inc.* | $ | 1,460 | 0.72% | (i) | ||||
Boston Company Asset Management, LLC | 206 | 0.89% | (j) | |||||
$ | 1,666 | 0.74% | ||||||
For the period ended December 31, 2010, the Core Fixed Income Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Managers:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
BlackRock Financial Management, Inc. | $ | 328 | 0.20% | (k) | ||||
Seix Investment Advisors LLC | 5 | 0.23% | (l) | |||||
Mellon Capital Management Corporation | 3 | 0.12% | (m) | |||||
$ | 336 | 0.20% | ||||||
For the period ended December 31, 2010, the Fixed Income Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Manager:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Aberdeen Asset Management, Inc. | $ | 377 | 0.20% | (n) | ||||
For the period ended December 31, 2010, the Fixed Opportunity Portfolio incurred the following investment advisory fee expenses with respect to the services of the indicated Specialist Manager:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Seix Investment Advisors LLC | $ | 905 | 0.42% | (o) | ||||
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For the period ended December 31, 2010, the U.S. Government Fixed Income Portfolio incurred the following investment advisory fee expenses with respect to the services of the indicated Specialist Manager:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Mellon Capital Management Corporation | $ | 19 | 0.12% | (m) | ||||
For the period ended December 31, 2010, the U.S. Corporate Fixed Income Portfolio incurred the following investment advisory fee expenses with respect to the services of the indicated Specialist Manager:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Seix Investment Advisors LLC | $ | 28 | 0.23% | (l) | ||||
For the period ended December 31, 2010, the U.S. Mortgage/Asset Backed Fixed Income Portfolio incurred the following investment advisory fee expenses with respect to the services of the indicated Specialist Manager:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
BlackRock Financial Management, Inc. | $ | 27 | 0.175% | (k) | ||||
For the period ended December 31, 2010, the Short-Term Municipal Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Manager:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Breckinridge Capital Advisors, Inc. | $ | 23 | 0.125% | |||||
For the period ended December 31, 2010, the Intermediate Municipal Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Manager:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Standish Mellon Asset Management Company LLC | $ | 550 | 0.20% | |||||
For the period ended December 31, 2010, the Intermediate Municipal II Portfolio incurred the following investment advisory fee expense with respect to the services of the indicated Specialist Manager:
Specialist Manager | Amount Earned (000’s) | Fee | ||||||
Breckinridge Capital Advisors, Inc. | $ | 33 | 0.125% | (p) | ||||
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* | SSgA Funds Management, Inc. (“SSgA FM”) is an affiliate of State Street Bank and Trust Company, the custodian to the Trust. |
(a) | AllianceBernstein L.P. (“AllianceBernstein”) receives a fee, which fee shall be payable monthly in arrears of 0.38% of the average daily net assets of the first $300 million of the Combined Assets (as defined hereafter). On Combined Assets over $300 million, the fee shall be at the annual rate of 0.37% of the Combined Assets. “Combined Assets” shall mean the sum of: the average net assets of the Value Portfolio managed by AllianceBernstein; the average net assets of the Institutional Value Portfolio managed by AllianceBernstein; and assets invested in the same investment strategy as the Portfolio that are managed by AllianceBernstein under the unified managed account program managed by the Trust’s primary adviser. Pursuant to a Fee Waiver Agreement dated October 16, 2009, AllianceBernstein has contractually agreed to waive that portion of the fee to which it is entitled that exceeds 0.25% of the average daily net assets of the AllianceBernstein Combined Assets (on an annualized basis), for the period October 1, 2009 to June 30, 2011. The amounts waived are disclosed on the Statements of Operations. |
(b) | 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; and
— 0.20% on the balance
(c) | Sterling Johnston Capital Management, L.P. acted as a Specialist Manager of the Small Cap Portfolio and Institutional Small Cap Portfolio through November 10, 2010. |
(d) | SSgA FM receives a fee, which fee shall be payable monthly in arrears at the annual rate of 0.04% of the average daily net assets managed by SSgA FM, subject to a minimum annual fee of $50,000. |
(e) | Wellington Management Company, LLP (“Wellington”) receives a fee, which fee 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 average net assets of the Real Estate Portfolio; and assets invested in the same investment strategy as the Portfolio that are managed by Wellington under the unified managed account program managed by the Trust’s primary adviser. |
(f) | Wellington receives a fee, which fee shall be payable monthly in arrears at the annual rate of 0.85% of the average daily net assets of the Portfolio for the first 180 days of the Portfolio’s operations. Thereafter, Wellington shall continue to be entitled to receive a fee at the annual rate of 0.85% so long as at least $50 million in assets are present in the account and 1.00% if less than $50 million in assets are present in the account. |
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(g) | Artisan Partners Limited Partnership (“Artisan”) receives a fee, which fee shall be payable monthly in arrears within 30 days after each month end. For so long as the Combined Assets (as defined below) are greater than $500 million, the fee shall be at the annual rate of 0.47% of the average daily net assets of the Portfolios. If the Combined Assets are reduced to $500 million or less, the fee shall be calculated based on average daily net assets of the Portfolios at the following annual rates: |
— 0.80% on assets up to $50 million;
— 0.60% on assets from $50 million to $100 million; and
— 0.70% on assets in excess of $100 million
“Combined Assets” shall mean the sum of: the average net assets of the International Portfolio managed by Artisan and the average net assets of the Institutional International Portfolio managed by Artisan.
(h) | 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 upon 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
(i) | SSgA FM receives a fee, based on the average daily NAV of the Portfolio’s assets, which fee shall be payable monthly in arrears at the annual rate of 0.85% for the first $50 million in such assets, 0.75% for the next $50 million in assets and 0.70% for those assets in excess of $100 million. |
(j) | Boston Company Asset Management, LLC receives an annual fee of 0.90% of the average daily net assets of the first $50 million of the account; 0.85% of the average daily net assets on the next $50 million on the account; 0.70% of the average daily net assets on the next $100 million on account; and 0.60% of the average daily net assets on the account over $200 million. |
(k) | BlackRock Financial Management, Inc. (“BlackRock”) receives a fee, which fee shall be calculated daily and payable monthly, at the annual rate of 0.175% of the first $200 million of the Combined Assets (as defined below) and 0.15% of the Combined Assets exceeding $200 million. BlackRock began serving as the Specialist |
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Manager to the U.S. Mortgage/Asset Backed Fixed Income Portfolio on December 6, 2010, when the Portfolio commenced operations. |
“Combined Assets” shall mean the sum of: the average net assets managed by BlackRock in the Core Fixed Income Portfolio and the average net assets managed by BlackRock in the U.S. Mortgage/Asset Backed Fixed Income Portfolio.
Prior to December 6, 2010, BlackRock received a fee computed in accordance with a tiered fee of 0.25% of the Core Fixed Income Portfolio’s average daily net assets of the first $100 million, 0.20% of such assets between $100 million and $200 million, and 0.175% of such assets over $200 million.
(l) | Seix Investment Advisors LLC (“Seix”) began serving as a Specialist Manager to the Core Fixed Income Portfolio on December 6, 2010, and the U.S. Corporate Fixed Income Portfolio on December 6, 2010, when the Portfolios commenced operations. 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 average net assets managed by Seix in the Core Fixed Income Portfolio and the average net assets managed by Seix in the U.S. Corporate Fixed Income Portfolio.
(m) | Mellon Capital Management Corporation (“Mellon Capital”) began serving as a Specialist Manager of the Core Fixed Income Portfolio on December 6, 2010, and the U.S. Government Fixed Income Portfolio on December 6, 2010, when the Portfolios commenced operations. Mellon Capital receives a fee, which shall be payable monthly in arrears at the annual rate of 0.12% of the average daily net assets managed by Mellon Capital. |
(n) | Aberdeen Asset Management, Inc. (“Aberdeen”) acted as a Specialist Manager of the Fixed Income Portfolio through December 7, 2010. During the period from July 1, 2010 through December 7, 2010, Aberdeen voluntarily waived and reimbursed a portion of its fees as disclosed on the Statement of Operations. |
(o) | Seix Investment Advisors LLC (“Seix”) receives a fee, based on the average daily assets of the Portfolio under its management at an annual rate of 0.50% for the first $100 million in such assets, and 0.40% for those assets in excess of $100 million. The Agreement also provides that, to the extent that other client account assets of the Trust’s primary adviser are managed by Seix, such assets will be taken into account in calculating the fee payable to Seix. |
(p) | Breckinridge Capital Advisors, Inc. (“Breckinridge”) receives a fee, which fee shall be payable monthly in arrears at the annual rate of 0.125% of the average daily net assets of the Portfolio. Breckinridge began serving as Specialist Manager to the Portfolio on July 13, 2010, when the Portfolio commenced operations. |
Pursuant to a discretionary investment advisory agreement 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 net assets per Portfolio. The fees that the Adviser receives are listed as “Management fees” on the Statements of Operations. The Adviser makes its officers available to serve as officers and/or Trustees of the Trust, provides office space sufficient for the Trust’s principal office, and monitors the performance of various investment management organizations, including the Specialist Managers. The Board has authorized the Trust’s officers to request an order from the Securities and Exchange Commission that would permit 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.
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
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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 fifty-four one-thousandths of one percent (.054%) of the Trust’s Portfolios’ average daily net assets up to $6 billion; and five one-thousandths of one percent (.005%) of the Trust’s Portfolios’ average daily net assets in excess of $6 billion. As such, the Trust paid an aggregate amount of $1,741,652 to Citi for the period ended December 31, 2010.
Unified Financial Securities, Inc. (“Unified”) serves as the Trust’s principal underwriter. Unified is a wholly-owned subsidiary of Huntington Bancshares, Inc. Unified will receive an annual fee of $10,000 for performing the services listed under its agreement with the Trust.
Alaric Compliance Services, LLC. (“Alaric”) provides an employee to serve as the Trust’s Chief Compliance Officer. For these services, Alaric is compensated $110,000 per year.
4. PURCHASE AND SALE TRANSACTIONS. The aggregate amount of cost of purchases and proceeds from sales of investment securities, other than long-term U.S. Government securities and short-term securities, for the period ended December 31, 2010, were as follows (amounts in thousands):
Portfolio | Purchases | Sales | ||||||
Value Portfolio | $ | 138,933 | $ | 117,987 | ||||
Institutional Value Portfolio | 250,466 | 215,670 | ||||||
Growth Portfolio | 167,425 | 192,777 | ||||||
Institutional Growth Portfolio | 287,592 | 273,040 | ||||||
Small Cap Portfolio | 42,583 | 49,588 | ||||||
Institutional Small Cap Portfolio | 77,589 | 79,115 | ||||||
Real Estate Portfolio | 85,493 | 63,388 | ||||||
Commodity Portfolio | 131,775 | 70,195 | ||||||
International Portfolio | 244,318 | 244,386 | ||||||
Institutional International Portfolio | 458,531 | 442,862 | ||||||
Emerging Markets Portfolio | 173,706 | 124,533 | ||||||
Core Fixed Income Portfolio | 87,805 | 236,601 | ||||||
Fixed Income Portfolio | 134,826 | 362,119 | ||||||
Fixed Opportunity Portfolio | 358,247 | 326,266 | ||||||
U.S. Government Fixed Income Portfolio | 12,165 | 1,429 | ||||||
U.S. Corporate Fixed Income Portfolio | 175,472 | 8,221 | ||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 11,408 | — | ||||||
Short-Term Municipal Portfolio | 5,315 | 6,295 | ||||||
Intermediate Municipal Portfolio | 71,244 | 115,052 | ||||||
Intermediate Municipal II Portfolio | 60,637 | 47,577 |
The aggregate cost of purchases and proceeds from sales of long-term U.S. Government securities for the period ended December 31, 2010, were as follows (amounts in thousands):
Portfolio | Purchases | Sales | ||||||
Institutional Value Portfolio | $ | 59,371 | $ | 34,051 | ||||
Institutional Growth Portfolio | 84,510 | 50,844 | ||||||
Core Fixed Income Portfolio | 1,031,545 | 1,111,574 | ||||||
Fixed Income Portfolio | 1,033,710 | 1,209,232 | ||||||
U.S. Government Fixed Income Portfolio | 239,425 | 23,364 | ||||||
U.S. Corporate Fixed Income Portfolio | 126,890 | 124,497 | ||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 80,745 | 6,816 |
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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 and designate 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 three years for federal income tax purposes). The determination has been made that there are not any uncertain tax positions that would require the Portfolios to record a tax liability and, therefore, there is no impact to the Portfolios’ financial statements.
A. Unrealized Appreciation/Depreciation (amounts in thousands):
Portfolio | Tax Cost of Securities | Tax Unrealized Appreciation | Tax Unrealized Depreciation | Net Tax Unrealized Appreciation/ (Depreciation) | ||||||||||||
Value Portfolio | $ | 457,923 | $ | 63,334 | $ | (2,708 | ) | $ | 60,626 | |||||||
Institutional Value Portfolio | 765,149 | 96,003 | (6,509 | ) | 89,494 | |||||||||||
Growth Portfolio | 530,045 | 185,380 | (1,419 | ) | 183,961 | |||||||||||
Institutional Growth Portfolio | 931,899 | 168,025 | (4,150 | ) | 163,875 | |||||||||||
Small Cap Portfolio | 114,789 | 28,212 | (4,343 | ) | 23,869 | |||||||||||
Institutional Small Cap Portfolio | 172,827 | 37,848 | (3,475 | ) | 34,373 | |||||||||||
Real Estate Portfolio | 207,040 | 59,326 | (851 | ) | 58,475 | |||||||||||
Commodity Portfolio | 195,532 | 36,312 | (924 | ) | 35,388 | |||||||||||
International Portfolio | 874,416 | 271,942 | (9,697 | ) | 262,245 | |||||||||||
Institutional International Portfolio | 1,604,415 | 217,102 | (46,969 | ) | 170,133 | |||||||||||
Emerging Markets Portfolio | 418,840 | 75,246 | (6,472 | ) | 68,774 | |||||||||||
Core Fixed Income Portfolio | 140,536 | 302 | (4,706 | ) | (4,404 | ) | ||||||||||
Fixed Income Portfolio | 39,543 | — | (751 | ) | (751 | ) | ||||||||||
Fixed Opportunity Portfolio | 416,001 | 29,181 | (1,485 | ) | 27,696 | |||||||||||
U.S. Government Fixed Income Portfolio | 227,516 | 1 | (2,667 | ) | (2,666 | ) | ||||||||||
U.S. Corporate Fixed Income Portfolio | 173,915 | 844 | (557 | ) | 287 | |||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 408,721 | 613 | (268 | ) | 345 | |||||||||||
Short-Term Municipal Portfolio | 34,652 | 644 | (82 | ) | 562 | |||||||||||
Intermediate Municipal Portfolio | 511,913 | 9,086 | (12,310 | ) | (3,224 | ) | ||||||||||
Intermediate Municipal II Portfolio | 61,996 | 3 | (1,295 | ) | (1,292 | ) |
The differences between book-basis and tax-basis unrealized appreciation/depreciation are attributable primarily to: tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains/losses on investments in passive foreign investment companies, and the difference between book and tax amortization methods for premium and market discounts.
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B. Tax Characteristics of Distributions Paid
The tax characteristics of distributions paid during the fiscal years ended June 30, 2010 and 2009 were as follows (amounts in thousands):
Year Ended June 30, 2010 | Distributions Paid From: | Total Taxable Distributions | Tax-Exempt Distributions | Total Distributions Paid* | ||||||||||||||||
Ordinary Income | Net Long Term Gains | |||||||||||||||||||
Value Portfolio | $ | 9,150 | $ | — | $ | 9,150 | $ | — | $ | 9,150 | ||||||||||
Institutional Value Portfolio | 9,051 | — | 9,051 | — | 9,051 | |||||||||||||||
Growth Portfolio | 6,664 | — | 6,664 | — | 6,664 | |||||||||||||||
Institutional Growth Portfolio | 5,926 | — | 5,926 | — | 5,926 | |||||||||||||||
Small Cap Portfolio | 846 | — | 846 | — | 846 | |||||||||||||||
Institutional Small Cap Portfolio | 716 | — | 716 | — | 716 | |||||||||||||||
Real Estate Portfolio | 3,733 | 25 | 3,758 | — | 3,758 | |||||||||||||||
International Portfolio | 20,524 | — | 20,524 | — | 20,524 | |||||||||||||||
Institutional International Portfolio | 20,952 | — | 20,952 | — | 20,952 | |||||||||||||||
Emerging Markets Portfolio | 61 | — | 61 | — | 61 | |||||||||||||||
Core Fixed Income Portfolio | 12,536 | — | 12,536 | — | 12,536 | |||||||||||||||
Fixed Income Portfolio | 18,165 | — | 18,165 | — | 18,165 | |||||||||||||||
Fixed Opportunity Portfolio | 31,005 | — | 31,005 | — | 31,005 | |||||||||||||||
Short-Term Municipal Portfolio | 14 | 88 | 102 | 855 | 957 | |||||||||||||||
Intermediate Municipal Portfolio | 846 | — | 846 | 20,113 | 20,959 |
Year Ended June 30, 2009 | Distributions Paid From: | Total Taxable Distributions | Tax Return of Capital | Tax-Exempt Distributions | Total Distributions Paid* | |||||||||||||||||||
Ordinary Income | Net Long Term Gains | |||||||||||||||||||||||
Value Portfolio | $ | 14,883 | $ | 5,968 | $ | 20,851 | $ | — | $ | — | $ | 20,851 | ||||||||||||
Institutional Value Portfolio | 8,918 | — | 8,918 | — | — | 8,918 | ||||||||||||||||||
Growth Portfolio | 9,209 | — | 9,209 | — | — | 9,209 | ||||||||||||||||||
Institutional Growth Portfolio | 4,848 | — | 4,848 | — | — | 4,848 | ||||||||||||||||||
Small Cap Portfolio | 1,609 | — | 1,609 | 306 | — | 1,915 | ||||||||||||||||||
Institutional Small Cap Portfolio | 1,037 | — | 1,037 | 22 | — | 1,059 | ||||||||||||||||||
Real Estate Portfolio | 31 | — | 31 | — | — | 31 | ||||||||||||||||||
International Portfolio | 28,580 | 53,940 | 82,520 | 890 | — | 83,410 | ||||||||||||||||||
Core Fixed Income Portfolio | 15,828 | — | 15,828 | — | — | 15,828 | ||||||||||||||||||
Fixed Income Portfolio | 16,401 | — | 16,401 | — | — | 16,401 | ||||||||||||||||||
Fixed Opportunity Portfolio | 15,215 | — | 15,215 | — | — | 15,215 | ||||||||||||||||||
Short-Term Municipal Portfolio | 11 | 27 | 38 | — | 949 | 987 | ||||||||||||||||||
Intermediate Municipal Portfolio | 2,620 | — | 2,620 | — | 19,930 | 22,550 |
* | Total distributions paid may differ from the Statement of Changes in Net Assets because dividends for tax purposes are recognized when actually paid. Certain Portfolios utilize equalization accounting for tax purposes and designate earnings and profits, including net realized gains distributed to shareholders on redemption of shares, as part of the dividends paid deduction for income tax purposes. |
Amounts designated as “—” are $0 or have been rounded to $0.
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C. Components of Accumulated Earnings
As of June 30, 2010, 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 | $ | 449 | $ | — | $ | 449 | $ | — | $ | (275,430 | ) | $ | (18,651 | ) | $ | (293,632 | ) | |||||||||||
Institutional Value Portfolio | 1,148 | — | 1,148 | — | (81,642 | ) | (22,509 | ) | (103,003 | ) | ||||||||||||||||||
Growth Portfolio | 395 | — | 395 | — | (279,568 | ) | 56,941 | (222,232 | ) | |||||||||||||||||||
Institutional Growth Portfolio | 1,108 | — | 1,108 | — | (98,579 | ) | (13,146 | ) | (110,617 | ) | ||||||||||||||||||
Small Cap Portfolio | 31 | — | 31 | — | (85,419 | ) | (2,711 | ) | (88,099 | ) | ||||||||||||||||||
Institutional Small Cap Portfolio | 130 | — | 130 | — | (41,621 | ) | (4,860 | ) | (46,351 | ) | ||||||||||||||||||
Real Estate Portfolio | 3,415 | 1,029 | 4,444 | — | (15 | ) | 21,823 | 26,252 | ||||||||||||||||||||
Commodity Portfolio | — | — | — | — | — | (6,370 | ) | (6,370 | ) | |||||||||||||||||||
International Portfolio | 2,883 | — | 2,883 | — | (225,693 | ) | 68,949 | (153,861 | ) | |||||||||||||||||||
Institutional International Portfolio | 4,253 | — | 4,253 | — | (15,023 | ) | (169,553 | ) | (180,323 | ) | ||||||||||||||||||
Emerging Markets Portfolio | 1,273 | — | 1,273 | — | (435 | ) | (20,535 | ) | (19,697 | ) | ||||||||||||||||||
Core Fixed Income Portfolio | 664 | — | 664 | (394 | ) | (429 | ) | 8,277 | 8,118 | |||||||||||||||||||
Fixed Income Portfolio | 1,647 | — | 1,647 | (1,261 | ) | (27,929 | ) | 12,101 | (15,442 | ) | ||||||||||||||||||
Fixed Opportunity Portfolio | 1,988 | — | 1,988 | — | (40,935 | ) | 11,533 | (27,414 | ) | |||||||||||||||||||
Short-Term Municipal Portfolio | 77 | 1 | 78 | (70 | ) | — | 952 | 960 | ||||||||||||||||||||
Intermediate Municipal Portfolio | 2,107 | — | 2,107 | (1,490 | ) | (32,177 | ) | 7,528 | (24,032 | ) |
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D. Capital Loss Carryforwards
As of June 30, 2010, the following Portfolios had net capital loss carryforwards to offset future capital gains, if any, to the extent provided by the Code:
Portfolio | Amount (000’s) | Expires | ||||||
Value Portfolio | $ | 80,388 | 2017 | |||||
Value Portfolio | 187,590 | 2018 | ||||||
Institutional Value Portfolio | 13,504 | 2017 | ||||||
Institutional Value Portfolio | 68,138 | 2018 | ||||||
Growth Portfolio | 45,682 | 2011 | ||||||
Growth Portfolio | 5,749 | 2012 | ||||||
Growth Portfolio | 112,453 | 2017 | ||||||
Growth Portfolio | 115,684 | 2018 | ||||||
Institutional Growth Portfolio | 11,196 | 2017 | ||||||
Institutional Growth Portfolio | 79,787 | 2018 | ||||||
Small Cap Portfolio | 42,991 | 2017 | ||||||
Small Cap Portfolio | 42,428 | 2018 | ||||||
Institutional Small Cap Portfolio | 6,494 | 2017 | ||||||
Institutional Small Cap Portfolio | 27,400 | 2018 | ||||||
International Portfolio | 87,406 | 2017 | ||||||
International Portfolio | 138,287 | 2018 | ||||||
Institutional International Portfolio | 15,023 | 2018 | ||||||
Emerging Markets Portfolio | 435 | 2018 | ||||||
Core Fixed Income Portfolio | 395 | 2018 | ||||||
Fixed Income Portfolio | 2,369 | 2015 | ||||||
Fixed Income Portfolio | 4,445 | 2017 | ||||||
Fixed Income Portfolio | 21,115 | 2018 | ||||||
Fixed Income Opportunity Portfolio | 10,278 | 2011 | ||||||
Fixed Income Opportunity Portfolio | 15,625 | 2012 | ||||||
Fixed Income Opportunity Portfolio | 515 | 2015 | ||||||
Fixed Income Opportunity Portfolio | 1,612 | 2016 | ||||||
Fixed Income Opportunity Portfolio | 12,905 | 2017 | ||||||
Intermediate Municipal Portfolio | 432 | 2013 | ||||||
Intermediate Municipal Portfolio | 423 | 2014 | ||||||
Intermediate Municipal Portfolio | 645 | 2015 | ||||||
Intermediate Municipal Portfolio | 256 | 2016 | ||||||
Intermediate Municipal Portfolio | 1,901 | 2017 | ||||||
Intermediate Municipal Portfolio | 18,308 | 2018 |
To the extent that these carryforwards are used to offset future capital gains, it is probable that the gains so offset will not be distributed to shareholders. During the fiscal year ended June 30, 2010, the Core Fixed Income Portfolio and Fixed Opportunity Portfolio utilized $3,250 and $2,108, respectively of net capital loss carryforwards.
The Regulated Investment Company Modernization Act of 2010, (the “Act”), was signed into law by President Obama on December 22, 2010. The Act makes a number of changes to the provisions in the Internal Revenue Code of 1986, as amended relating to regulated investment companies (“RICs”), that will generally become effective for taxable years beginning after December 22, 2010. The Act allows RICs to generally carryover net capital losses
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Notes to Financial Statements (concluded) — December 31, 2010 (Unaudited)
indefinitely, effective for losses arising in taxable years beginning after December 22, 2010. Such losses will retain their character as either long-term capital losses or short-term capital losses. Under pre-enactment law, capital losses could be carried forward for eight years and carried forward as short-term capital losses irrespective of the character of the original loss. Loss carryovers from years beginning prior to December 22, 2010 will still expire subject to the eight-year limitation. The Act further provides that losses arising in taxable years after December 22, 2010 (which are carried forward indefinitely) would be utilized prior to loss carryovers arising in taxable years beginning prior to December 22, 2010.
E. Post October Losses
Under current tax law, capital losses realized after October 31 of a Portfolio’s fiscal year may be deferred and treated as occurring on the first business day of the following fiscal year. The Value Portfolio, Institutional Growth Portfolio, Institutional Small Cap Portfolio, Real Estate Portfolio, Core Fixed Income Portfolio and the Intermediate Municipal Portfolio had deferred post October capital and currency losses of $7,452, $7,596, $7,727, $15, $34 and $10,212, respectively.
6. RISK CONSIDERATIONS.
Market Risk — Each Portfolio bears a basic risk like all mutual funds. Mutual fund shareholders run the 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/or 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 differences between U.S. 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 and transaction expenses relating to foreign securities, including custody fees, are generally more costly than transaction expenses for domestic securities. Additionally, 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.
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, 2010, except as stated below.
Effective March 1, 2011, the Trust’s principal underwriter, Unified, increased their fee from $10,000 to $50,000 per year.
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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 twelve months ended June 30, 2010, 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 six months ended December 31, 2010, the following actions were taken by the shareholders of the Core Fixed Income Portfolio.
SPECIAL MEETING OF THE SHAREHOLDERS
A special meeting of shareholders of the Core Fixed Income Portfolio was held on November 30, 2010. At the November 30, 2010 meeting, shareholders of the Core Fixed Income Portfolio approved new portfolio management agreements with the Trust and Mellon Capital and the Trust and Seix. The results of the November 30, 2010 meeting are presented below:
Approval of Mellon Capital as a Specialist Manager for the Core Fixed Income Portfolio and related contract;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
Core Fixed Income Portfolio | 35,260,883 | 28,745,904 | 81.52 | % | 28,745,904 | 100.00 | % |
Approval of Seix as a Specialist Manager for the Core Fixed Income Portfolio and related contract;
Portfolio | Record Date Shares | Shares Voted | % of Total Shares | For Proposal | % of Votes in Favor | |||||||||||||||
Core Fixed Income Portfolio | 35,260,883 | 28,745,904 | 81.52 | % | 28,745,904 | 100.00 | % |
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, 2010 through December 31, 2010.
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.
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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, 2010 | Ending Account Value, December 31, 2010 | Expenses Paid During Period | Annualized Expense Ratio | |||||||||||||||||||
Value Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,209.00 | $ | 1.84 | 1 | 0.33 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,203.54 | $ | 1.68 | 1 | 0.33 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,215.10 | $ | 1.78 | 0.33 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,023.54 | $ | 1.68 | 0.33 | % | ||||||||||||||
Institutional Value Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,217.30 | $ | 2.01 | 1 | 0.36 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,023.39 | $ | 1.84 | 1 | 0.36 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,224.30 | $ | 1.95 | 0.36 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,023.39 | $ | 1.84 | 0.36 | % | ||||||||||||||
Growth Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,254.90 | $ | 2.16 | 1 | 0.38 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,023.39 | $ | 1.94 | 1 | 0.38 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,252.70 | $ | 2.09 | 0.38 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,023.29 | $ | 1.94 | 0.38 | % | ||||||||||||||
Institutional Growth Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,255.10 | $ | 2.22 | 1 | 0.39 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,023.24 | $ | 1.99 | 1 | 0.39 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,253.90 | $ | 2.14 | 0.39 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,023.24 | $ | 1.99 | 0.39 | % | ||||||||||||||
Small Cap Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,290.00 | $ | 4.44 | 1 | 0.77 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,021.32 | $ | 3.92 | 1 | 0.77 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,324.70 | $ | 4.36 | 0.77 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,021.32 | $ | 3.92 | 0.77 | % | ||||||||||||||
Institutional Small Cap Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,287.30 | $ | 4.44 | 1 | 0.77 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,021.32 | $ | 3.92 | 1 | 0.77 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,321.90 | $ | 4.36 | 0.77 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,021.32 | $ | 3.92 | 0.77 | % | ||||||||||||||
Real Estate Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,240.60 | $ | 4.52 | 1 | 0.80 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,021.17 | $ | 4.08 | 1 | 0.80 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,284.20 | $ | 4.46 | 0.80 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,021.17 | $ | 4.08 | 0.80 | % | ||||||||||||||
Commodity Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,345.90 | $ | 6.21 | 1 | 1.05 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,019.91 | $ | 5.35 | 1 | 1.05 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,326.50 | $ | 5.96 | 1.05 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,019.91 | $ | 5.35 | 1.05 | % | ||||||||||||||
International Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,249.50 | $ | 3.52 | 1 | 0.62 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,022.08 | $ | 3.16 | 1 | 0.62 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,217.70 | $ | 3.35 | 0.62 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,022.08 | $ | 3.16 | 0.62 | % |
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Beginning Account Value, July 1, 2010 | Ending Account Value, December 31, 2010 | Expenses Paid During Period | Annualized Expense Ratio | |||||||||||||||||||
Institutional International Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,247.10 | $ | 3.45 | 1 | 0.61 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,022.13 | $ | 3.11 | 1 | 0.61 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,215.70 | $ | 3.30 | 0.61 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,022.13 | $ | 3.11 | 0.61 | % | ||||||||||||||
Emerging Markets Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,275.30 | $ | 6.02 | 1 | 1.05 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,019.91 | $ | 5.35 | 1 | 1.05 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,249.40 | $ | 5.76 | 1.05 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,019.91 | $ | 5.35 | 1.05 | % | ||||||||||||||
Core Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,009.20 | $ | 1.72 | 1 | 0.34 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,023.49 | $ | 1.73 | 1 | 0.34 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,007.30 | $ | 1.66 | 0.34 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,023.49 | $ | 1.73 | 0.34 | % | ||||||||||||||
Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,017.60 | $ | 1.68 | 1 | 0.33 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,023.54 | $ | 1.68 | 1 | 0.33 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,017.60 | $ | 1.62 | 0.33 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,023.54 | $ | 1.68 | 0.33 | % | ||||||||||||||
Fixed Opportunity Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,116.20 | $ | 2.99 | 1 | 0.56 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,022.38 | $ | 2.85 | 1 | 0.56 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 1,114.60 | $ | 2.89 | 0.56 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,022.38 | $ | 2.85 | 0.56 | % | ||||||||||||||
U.S. Government Fixed Income Portfolio | HC Strategic Shares | Actual4 | $ | 1,000.00 | $ | 988.80 | $ | 0.20 | 0.30 | % | ||||||||||||
Hypothetical5 | $ | 1,000.00 | $ | 1,023.69 | $ | 1.53 | 0.30 | % | ||||||||||||||
U.S. Corporate Fixed Income Portfolio | HC Strategic Shares | Actual4 | $ | 1,000.00 | $ | 991.00 | $ | 0.28 | 0.41 | % | ||||||||||||
Hypothetical5 | $ | 1,000.00 | $ | 1,023.14 | $ | 2.09 | 0.41 | % | ||||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | HC Strategic Shares | Actual4 | $ | 1,000.00 | $ | 995.00 | $ | 0.25 | 0.36 | % | ||||||||||||
Hypothetical5 | $ | 1,000.00 | $ | 1,023.39 | $ | 1.84 | 0.36 | % | ||||||||||||||
Short-Term Municipal Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,002.00 | $ | 1.46 | 1 | 0.29 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,023.74 | $ | 1.48 | 1 | 0.29 | % | |||||||||||||
Intermediate Municipal Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 996.50 | $ | 1.71 | 1 | 0.34 | % | |||||||||||
Hypothetical | $ | 1,000.00 | $ | 1,023.49 | $ | 1.73 | 1 | 0.34 | % | |||||||||||||
HC Advisors Shares | Actual2 | $ | 1,000.00 | $ | 994.50 | $ | 1.65 | 0.34 | % | |||||||||||||
Hypothetical3 | $ | 1,000.00 | $ | 1,023.49 | $ | 1.73 | 0.34 | % | ||||||||||||||
Intermediate Municipal II Portfolio | HC Strategic Shares | Actual6 | $ | 1,000.00 | $ | 988.20 | $ | 1.58 | 0.34 | % | ||||||||||||
Hypothetical7 | $ | 1,000.00 | $ | 1,023.49 | $ | 1.73 | 0.34 | % | ||||||||||||||
HC Advisors Shares | Actual8 | $ | 1,000.00 | $ | 976.90 | $ | 0.80 | 0.34 | % | |||||||||||||
Hypothetical9 | $ | 1,000.00 | $ | 1,023.49 | $ | 1.73 | 0.34 | % |
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1 | 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). |
2 | Expenses are equal to the Portfolio’s annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the period from July 6, 2010 (date of commencement of operations) to December 31, 2010, divided by the number of days in the fiscal year. |
3 | Expenses are equal to the Portfolio’s annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year (to reflect one half-year period). Information shown reflects values using the expense ratios for the 178 days of operations during the period, and has been annualized to reflect values for the period July 1, 2010 to December 31, 2010. |
4 | Expenses are equal to the Portfolio’s annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the period from December 6, 2010 (date of commencement of operations) to December 31, 2010, divided by the number of days in the fiscal year. |
5 | Expenses are equal to the Portfolio’s annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year (to reflect one half-year period). Information shown reflects values using the expense ratios for the 24 days of operations during the period, and has been annualized to reflect values for the period July 1, 2010 to December 31, 2010. |
6 | Expenses are equal to the Portfolio’s annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the period from July 13, 2010 (date of commencement of operations) to December 31, 2010, divided by the number of days in the fiscal year. |
7 | Expenses are equal to the Portfolio’s annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year (to reflect one half-year period). Information shown reflects values using the expense ratios for the 171 days of operations during the period, and has been annualized to reflect values for the period July 1, 2010 to December 31, 2010. |
8 | Expenses are equal to the Portfolio’s annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the period from October 5, 2010 (date of commencement of operations) to December 31, 2010, divided by the number of days in the fiscal year. |
9 | Expenses are equal to the Portfolio’s annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year (to reflect one half-year period). Information shown reflects values using the expense ratios for the 57 days of operations during the period, and has been annualized to reflect values for the period July 1, 2010 to December 31, 2010. |
4. 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.
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5. ADDITIONAL PORTFOLIO HOLDINGS INFORMATION
The following tables reflect the percentage of the total investments of each Portfolio attributable to the indicated industry sector or type of security, as appropriate for the indicated Portfolio.
Value Portfolio
Security Allocation | Percentage of Value | |||
Energy | 13.6% | |||
Materials | 3.9% | |||
Industrials | 9.1% | |||
Consumer Discretionary | 12.1% | |||
Consumer Staples | 10.6% | |||
Health Care | 14.5% | |||
Financials | 21.5% | |||
Information Technology | 6.8% | |||
Telecommunication Services | 5.3% | |||
Utilities | 2.6% | |||
Total | 100.0% | |||
Institutional Value Portfolio
Security Allocation | Percentage of Value | |||
Energy | 13.5% | |||
Materials | 4.5% | |||
Industrials | 9.1% | |||
Consumer Discretionary | 12.2% | |||
Consumer Staples | 10.5% | |||
Health Care | 13.6% | |||
Financials | 20.2% | |||
Information Technology | 9.3% | |||
Telecommunication Services | 4.9% | |||
Utilities | 2.2% | |||
Total | 100.0% | |||
Growth Portfolio
Security Allocation | Percentage of Value | |||
Energy | 8.0% | |||
Materials | 3.4% | |||
Industrials | 9.6% | |||
Consumer Discretionary | 17.6% | |||
Consumer Staples | 9.2% | |||
Health Care | 14.4% | |||
Financials | 3.9% | |||
Information Technology | 33.4% | |||
Telecommunication Services | 0.5% | |||
Total | 100.0% | |||
Institutional Growth Portfolio
Security Allocation | Percentage of Value | |||
Energy | 8.5% | |||
Materials | 3.4% | |||
Industrials | 9.8% | |||
Consumer Discretionary | 16.4% | |||
Consumer Staples | 9.4% | |||
Health Care | 14.2% | |||
Financials | 5.9% | |||
Information Technology | 30.8% | |||
Telecommunication Services | 1.0% | |||
Utilities | 0.6% | |||
Total | 100.0% | |||
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Small Cap Portfolio
Security Allocation | Percentage of Value | |||
Energy | 5.8% | |||
Materials | 5.8% | |||
Industrials | 18.2% | |||
Consumer Discretionary | 11.9% | |||
Consumer Staples | 1.7% | |||
Health Care | 11.1% | |||
Financials | 21.1% | |||
Information Technology | 20.3% | |||
Telecommunication Services | 1.4% | |||
Utilities | 2.7% | |||
Total | 100.0% | |||
Institutional Small Cap Portfolio
Security Allocation | Percentage of Value | |||
Energy | 5.7% | |||
Materials | 5.5% | |||
Industrials | 18.9% | |||
Consumer Discretionary | 12.2% | |||
Consumer Staples | 1.7% | |||
Health Care | 10.6% | |||
Financials | 21.4% | |||
Information Technology | 20.0% | |||
Telecommunication Services | 1.3% | |||
Utilities | 2.7% | |||
Total | 100.0% | |||
Real Estate Portfolio
Security Allocation | Percentage of Value | |||
Multifamily | 12.0% | |||
Retail — Shopping Centers | 8.3% | |||
Retail — Malls | 8.2% | |||
Office | 16.9% | |||
Self-Storage Facilities | 4.2% | |||
Lodging | 6.5% | |||
Diversified | 14.0% | |||
Warehouse/Logistics | 5.2% | |||
Specialty Finance | 0.6% | |||
Healthcare Real Estate | 16.7% | |||
Agriculture & Forest Products | 7.4% | |||
Total | 100.0% | |||
Commodity Portfolio
Security Allocation | Percentage of Value | |||
Energy | 70.0% | |||
Metals & Minerals | 30.0% | |||
Total | 100.0% | |||
International Portfolio
Security Allocation | Percentage of Value | |||
Energy | 5.2% | |||
Materials | 12.6% | |||
Industrials | 16.8% | |||
Consumer Discretionary | 13.9% | |||
Consumer Staples | 8.6% | |||
Health Care | 7.0% | |||
Financials | 20.3% | |||
Information Technology | 8.3% | |||
Telecommunication Services | 5.0% | |||
Utilities | 2.3% | |||
Total | 100.0% | |||
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Institutional International Portfolio
Security Allocation | Percentage of Value | |||
Energy | 5.0% | |||
Materials | 12.3% | |||
Industrials | 16.8% | |||
Consumer Discretionary | 14.3% | |||
Consumer Staples | 8.9% | |||
Health Care | 6.6% | |||
Financials | 20.6% | |||
Information Technology | 8.4% | |||
Telecommunication Services | 4.8% | |||
Utilities | 2.3% | |||
Total | 100.0% | |||
Emerging Markets Portfolio
Security Allocation | Percentage of Value | |||
Energy | 13.5 | % | ||
Materials | 14.0 | % | ||
Industrials | 7.2 | % | ||
Consumer Discretionary | 8.3 | % | ||
Consumer Staples | 6.4 | % | ||
Health Care | 0.7 | % | ||
Financials | 26.0 | % | ||
Information Technology | 11.8 | % | ||
Telecommunication Services | 9.0 | % | ||
Utilities | 3.1 | % | ||
Total | 100.0 | % | ||
Core Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Treasury | 27.6% | |||
Agency | 5.7% | |||
Mortgage | 29.7% | |||
Corporate | 31.4% | |||
Cash/Other | 5.6% | |||
Total | 100.0% | |||
Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Cash | 100.0% | |||
Total | 100.0% | |||
Fixed Opportunity Portfolio
Security Allocation | Percentage of Value | |||
Aerospace/Defense/Airlines | 1.5% | |||
Chemicals | 3.8% | |||
Consumer Products/Textiles | 0.7% | |||
Energy | 11.4% | |||
Financial | 13.8% | |||
Food/Drug/Restaurants | 2.0% | |||
Forest Products/Containers | 2.2% | |||
Gaming/Leisure | 4.0% | |||
Health Care | 6.3% | |||
Housing/Building Materials | 2.6% | |||
Information Technology | 5.0% | |||
Manufacturing/Capital Goods | 1.3% | |||
Broadcasting | 1.9% | |||
Cable/Wireless Video | 4.5% | |||
Telecom ex Wireless | 8.9% | |||
Wireless | 3.7% | |||
Diversified Media | 3.2% | |||
Metals/Minerals | 1.8% | |||
Retail | 1.9% | |||
Services/Environmental/Other | 3.9% | |||
Transportation | 3.9% | |||
Utilities | 7.6% | |||
Cash | 4.1% | |||
Total | 100.0% | |||
U.S. Government Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Treasury | 83.0% | |||
Agency | 17.0% | |||
Total | 100.0% | |||
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U.S. Corporate Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Banking | 11.4% | |||
Basic Industry | 4.6% | |||
Brokerage | 5.3% | |||
Capital Goods | 3.0% | |||
Communications | 12.7% | |||
Consumer Cyclical | 6.2% | |||
Consumer Non-Cyclical | 9.2% | |||
Electric | 5.0% | |||
Energy | 9.3% | |||
Financial | 6.0% | |||
Insurance | 5.1% | |||
Natural Gas | 6.8% | |||
Real Estate Investment Trusts | 2.6% | |||
Technology | 5.1% | |||
Transportation | 1.5% | |||
Utilities | 0.7% | |||
Cash | 5.5% | |||
Total | 100.0% | |||
U.S. Mortgage/Asset Backed Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Mortgage Backed Securities | 83.7% | |||
Collateralized Mortgage Backed Securities | 5.3% | |||
Cash/Other | 11.0% | |||
Total | 100.0% | |||
Short-Term Municipal Portfolio
Security Allocation | Percentage of Value | |||
Cash & Equivalents | 1.5% | |||
University | 6.4% | |||
Escrowed to Maturity/Pre-Refunded | 5.5% | |||
General Obligation | 36.0% | |||
Lease Revenue | 9.0% | |||
Water/Sewer Revenue | 3.5% | |||
Sales Tax Revenue | 4.9% | |||
Electric | 12.5% | |||
Transportation | 8.8% | |||
Other | 11.9% | |||
Total | 100.0% | |||
Intermediate Municipal Portfolio
Security Allocation | Percentage of Value | |||
Special Tax | 15.5% | |||
General Obligation | 12.5% | |||
Water/Sewer Revenue | 10.3% | |||
Power | 12.0% | |||
Education | 8.5% | |||
Airport | 7.8% | |||
Escrowed to Maturity/Pre-Refunded | 4.9% | |||
Hospital | 4.9% | |||
Housing | 4.1% | |||
Lease Revenue | 3.8% | |||
Tolls | 2.6% | |||
Bond Bank | 1.4% | |||
Tobacco | 1.3% | |||
Industrial Development | 1.4% | |||
Transportation | 3.3% | |||
Retirement | 1.1% | |||
Taxable Bonds | 0.6% | |||
Human Services | 0.4% | |||
Cash & Equivalents | 1.7% | |||
Other | 1.9% | |||
Total | 100.0% | |||
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Intermediate Municipal II Portfolio
Security Allocation | Percentage of Value | |||
Local General Obligation | 25.5% | |||
State General Obligation | 13.6% | |||
Water/Sewer Revenue | 13.9% | |||
Dedicated Tax | 9.2% | |||
Electric | 6.9% | |||
Airport | 4.8% | |||
State — Appropriation/Lease | 3.7% | |||
Utilities | 3.6% | |||
Transportation | 6.1% | |||
University | 3.4% | |||
Cash/Other | 9.3% | |||
Total | 100.0% | |||
6. BOARD APPROVAL OF INVESTMENT ADVISORY CONTRACTS
As of the date of this report, the Trust offered twenty portfolios (“Portfolios”). The Trust’s investment adviser is HC Capital Solutions, an operating division of Hirtle Callaghan & Co. LLC (the “Adviser”). The Trust has entered into investment advisory agreements 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. Twelve of the Portfolios are currently managed by two or more Specialist Managers.1
During the six-month period covered by this report, the Trust’s Board approved the continuation of portfolio management agreements (“Continuing Agreements”) with ten of the Trust’s Specialist Managers,2 approved new portfolio management agreements (“New Agreements”) with two additional Specialist Managers for the Core Fixed Income Portfolio3 and amended three agreements (“Amended Agreements”), effectively reducing the fees payable to two Specialist Managers.4
1 | See Note 3 for details. |
2 | Continuing Agreements reviewed for continuation by the Board during the period include portfolio management agreements with each of: SSgA Funds Management, Inc. (The Emerging Markets, Value, Institutional Value, Growth, Institutional Growth, Small Capitalization and Institutional Small Capitalization Equity Portfolios); Frontier Capital Management Company, LLC (The Small Capitalization and Institutional Small Capitalization Equity Portfolios); IronBridge Capital Management, L.P. (The Small Capitalization and Institutional Small Capitalization Equity Portfolios); Sterling Johnston Capital Management, L.P. (The Small Capitalization and Institutional Small Capitalization Equity Portfolios); Wellington Management Company, LLP (The Real Estate Securities and Commodity Related Securities Portfolios); Artisan Partners Limited Partnership (The International and Institutional International Equity Portfolios); Capital Guardian Trust Company (The International and Institutional International Equity Portfolios); Causeway Capital Management, LLC (The International and Institutional International Equity Portfolios). |
3 | The New Agreements reviewed for initial approval by the Board during the period include portfolio management agreements with respect to The Core Fixed Income Portfolio with each of Mellon Capital Management Corporation and Seix Investment Advisors, Inc. |
4 | The Amended Agreements reviewed during the period include amendments to existing agreements with each of BlackRock Financial Management, Inc. (relating to the Core Fixed Income and U.S. Mortgage/Asset Backed Fixed Income Securities Portfolios) and Seix Investment Advisors, Inc. (relating to The U.S. Corporate Fixed Income Securities Portfolio). |
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Continuing Agreements. In approving the Continuing Agreements referenced above, the Board concluded that the terms and conditions of the relevant agreements were in the best interests of the Trust and consistent with the expectations of the Trust’s shareholders based on the specific circumstances of the Trust and its 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 certain asset allocation strategies on behalf of its investment advisory clients; that shares of the Trust are generally available only to such clients or clients of financial intermediaries that have contracted with the Adviser; and that the Adviser recommended that each of the Continuing Agreements be approved by the Board. 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 similar funds (“peer funds”) managed by other investment advisory organizations. While the Board found such comparisons to be useful as an indication of the range of fees and services in the peer funds, the Board did not consider such comparisons to be a dispositive factor. Rather, the Board based its findings on the specific facts and circumstances of the Trust.
In approving the continuation of these Continuing Agreements, the Board had before it information to the effect that the Specialist Managers are responsible only for day-to-day investment decisions for, and do not participate in the administration or distribution of shares of, the Portfolios. The Specialist Managers receive limited, if any, benefit from their association with the Trust other than the fee paid to them by the respective Portfolios for which they provide investment management services. The Board reviewed the services provided by the Specialist Managers, their relative performance, the experience of their investment personnel, their adherence to stated investment methodologies and related factors. In concluding that continuation of the respective agreements was appropriate, the Board did not rely upon any single factor, but balanced all of the relevant factors, including the nature and quality of the Specialist Managers’ services, comparative fund performance, comparative fund fee structures and economies of scale while giving considerable weight to the Adviser’s recommendations and its views with respect to: (i) the success and future ability of the respective Portfolios to capture the desired asset class for that firm’s clients; and (ii) in the case of multi-manager Portfolios, the contribution of each Specialist Manager to this endeavor. Based on the foregoing, the Board concluded that the performance of the Specialist Managers was satisfactory and that continuation of such contracts was fair and reasonable and in the best interest of shareholders.
The Board also determined that the rate at which each of the Specialist Managers that serve the Portfolios to which the Continuing Agreements relate is compensated for its services is reasonable. In reaching this conclusion, the Board had before it certain information with respect to the costs incurred by each of the Specialist Managers in providing services to the Portfolios, the profitability of such managers, fees charged by such managers to other institutional clients and/or information on fees charged to peer funds for similar services. The Board did not specifically rely on such information, however, but instead gave substantial weight to information demonstrating that the rate at which these Specialist Managers are compensated was determined as a result of arms-length negotiations conducted by the officers of the Trust and the Adviser, including, in several cases, negotiated fee reductions, waivers and scheduled breakpoints designed to recognize economies of scale in appropriate cases.
New Agreements. In approving the terms and conditions of the New Agreements, the Board determined that such approvals were in the best interests of The Core Fixed Income Portfolio and consistent with the expectations of The Core Fixed Income Portfolio’s shareholders. 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; the Adviser’s recommendations with respect to each of the Specialist Managers; and information relating to the anticipated profitability and revenues of the Specialist Managers and related factors. While the Board found this information to be useful as an indication of the range of fees and services in the peer funds, the Board did not consider such comparisons to be a dispositive factor. Rather, the Board based its findings on the specific facts and circumstances of the Trust, including the fact that the Trust’s Portfolios are designed to serve as vehicles for executing
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Additional Information (concluded) — December 31, 2010 (Unaudited)
selected investment strategies and that all of the Trust’s shareholders are clients of the Adviser or clients of financial intermediaries that have contracted with the Adviser. The Board also noted that each of these Specialist Managers was already engaged by at least one other Portfolio of the Trust to provide advisory services using the same strategies to be employed in The Core Fixed Income Portfolio at the same fee level.
Additionally, in approving the New Agreements, the Board had before it information to the effect that the Specialist Managers would be responsible only for day-to-day investment decisions, would not participate in the administration or distribution of shares of The Core Fixed Income Portfolio and would receive limited, if any, benefit from their association with the Trust other than the fee paid to them by The Core Fixed Income Portfolio. The Board reviewed the services expected to be provided by the Specialist Managers, the performance achieved by the Specialist Managers in accounts following similar strategies to those that would be used with respect to The Core Fixed Income Portfolio, the experience of their investment personnel, their adherence to stated investment methodologies and related factors. In concluding that approval of the respective agreements was appropriate, the Board did not rely upon any single factor, but balanced all of the relevant factors, including the anticipated nature and quality of the Specialist Managers’ services, comparative fund performance, comparative fund fee structures and economies of scale while giving considerable weight to the Adviser’s recommendations and its views with respect to the success and future ability of The Core Fixed Income Portfolio to capture the desired asset class. Based on the foregoing, the Board concluded that the approval of such contracts was fair and reasonable and in the best interest of shareholders.
Amended Agreements. In connection with its deliberations with respect to the implementation of the amendments to existing agreements with each of BlackRock Financial Management, Inc. (relating to the Core Fixed Income and U.S. Mortgage/Asset Backed Fixed income Securities Portfolios) and Seix Investment Advisors, Inc. (relating to The U.S. Corporate Fixed Income Securities Portfolio), the Board had before it information to the effect that each of the two amendments would have the effect of effectively reducing the fees payable by each of the affected portfolios to the respective Specialist Manager without changing or impairing the services to be provided to such portfolio in any way. The Board concluded that such amendments were fair and reasonable.
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Trustees
DONALD E. CALLAGHAN*
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. |
��
Sponsor | Counsel | |
HC Capital Solutions Five Tower Bridge 300 Barr Harbor Drive, Suite 500 West Conshohocken, Pennsylvania 19428 | Drinker Biddle & Reath LLP One Logan Square—18th & Cherry Streets Philadelphia, Pennsylvania 19103-6996 | |
Administrator | Independent Registered Public Accounting Firm | |
Citi Fund Services Ohio, Inc. 3435 Stelzer Road Columbus, Ohio 43219 | PricewaterhouseCoopers LLP 41 South High Street Suite 2500 Columbus, Ohio 43215 | |
Distributor | Custodian | |
Unified Financial Securities, Inc. 2960 North Meridian Street Suite 300 Indianapolis, Indiana 46208-4715 | State Street Bank and Trust Company State Street Financial Center 1 Lincoln Street Boston, Massachusetts 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.
2/11
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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.
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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/ Donald E. Callaghan, Principal Executive Officer | |||
Donald E. Callaghan, Principal Executive Officer | ||||
Date: February 24, 2011 . |
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/ Robert J. Zion, Principal Financial Officer | |||
Robert J. Zion, Principal Financial Officer | ||||
Date: March 4, 2011 . | ||||
By (Signature and Title)* | /s/ Donald E. Callaghan, Principal Executive Officer | |||
Donald E. Callaghan, Principal Executive Officer | ||||
Date: February 24, 2011 . |